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Thursday 23 July 2020

Procedure Trays Market Worth USD 18.9 Billion By 2025 | CAGR: 10.5%

Procedure Trays Market Growth & Trends

The global procedure trays market size is expected to reach USD 18.9 billion by 2025, according to a new study by Grand View Research Inc., progressing at a CAGR of 10.5% during the forecast period. Increasing number of surgeries across the world is providing a significant boost to the market.

Moreover, governments worldwide are encouraging usage of single-use sterile instruments to avoid infections. This, in turn, is acting as one of the key trends stoking market growth. Along with the increasing number of surgical procedures, the demand for advanced logistics and inventory management is also growing.

Patients are increasingly preferring noninvasive or minimally invasive surgeries due to high risk of infections associated with invasive surgeries. Usage of prepacked kits aids in prevention and control of infectious diseases. The U.K. government has issued specific guidelines related to degree of sterility that has to be maintained in operating rooms. In addition to high risk of infection, noninvasive surgeries require shorter hospital stays, thus saving time and medical cost.

Huge unused stocks of hospital supplies can lead to their expiration. As hospitals are not required to keep a large stock of medical supplies due to procedure trays, it helps in avoiding expiry of products. Due to convenience offered by procedure trays, administrative and purchase departments in hospitals are not required to contact many suppliers. Hence, it saves procurement and administration costs.

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Procedure Trays Market Report Highlights

  • Procedure trays market is segmented into operating room, angiography, ophthalmology, and other procedure trays. The operating room segment is expected to lead the market throughout the forecast period.
  • Majority of surgical procedures are performed at hospitals. Hospitals represented the highest share in the market in 2016.As cost saving measures, rising adoption of procedure trays will contribute to the hospital segment.
  • Clinics and other healthcare facilities are anticipated to witness highest CAGR in the coming years. Increasing preference for minimally invasive surgeries will supplement the growth of the segment.
  • North America dominated the procedure trays market in 2016, owing to domicile of several key players and various initiatives undertaken by governments to encourage use of single-use medical supplies to prevent infections.
  • Competition in this market is likely to be high in the coming years as market players are competing to capture maximum share in the market, especially in technologically advanced nations such as the U.S., Germany, and U.K.
  • Some of the key market players are Owens & Minor, Inc.; Cardinal Health; 3M Healthcare; Becton, Dickinson and Company; and Teleflex Incorporated.
  • Mergers and acquisitions of well-established players is one of the key strategies adopted by prominent companies in the market. For instance, Owens & Minor, Inc. acquired Medical Action Industries, Inc. in 2014

Wireless Health Market Worth $315.4 Billion By 2025 | CAGR: 23.5%

The global wireless health market size is expected to reach USD 315.4 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 23.5% CAGR during the forecast period. An increase in the number of eHealth initiatives worldwide, an increase in the penetration of smartphones and Internet connectivity, and growth in the trend of self-disease management are some of the factors boosting the market growth. A growing trend toward the use of wearable devices for monitoring physical parameters, such as sleep, blood pressure, heart rate, and physical activity, is also driving the wireless health market.

The growing geriatric population and subsequent rise in chronic disease burden is also driving the market. According to The Wall Street Journal, there has been an increase in the usage of digital medicine, which enables the management of chronic conditions such as diabetes, heart diseases, and respiratory diseases. Moreover, these digital medicines are cost-effective alternatives to traditional disease management.

Shifting trend toward value-based care is another factor contributing to the growth of the wireless health market. At present, some of the telehealth services, such as consulting a doctor via video connection, are reimbursed by CMS. The use of digital services such as various platforms for health management has promoted the development of various applications for managing diabetes, heart diseases, and asthma. The use of applications for chronic disease management, fitness tracking, supporting medication adherence, preventing hospital readmissions, symptom tracking, and managing mental and behavioral health are on the rise.

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Further key findings from the report suggest:

  • Wireless Personal Area Network (WPAN) emerged as the largest technology segment and Wireless Wide Area Network (WWAN) is anticipated to witness the fastest growth over the coming years
  • Software emerged as the largest component segment owing to the rise in the number of research initiatives. The services segment, on the other hand, is anticipated to expand at the fastest CAGR of 24.7%
  • Patient-specific applications emerged as the largest segment owing to increase in adoption and rise in research initiatives for developing them to manage individual health
  • The patient segment accounted for the largest revenue share in terms of end use owing to the increase in the use of health and fitness applications by people around the world
  • The market is highly fragmented with participants such as IBM; Allscripts; Cerner Corporation; Omron Corporation; Koninklijke Philips N.V.; Epic Systems Corporation; and Evolent Health, Inc.

Medical Cyclotron Market Worth $284.3 Million By 2025 | CAGR: 10.9%

The global medical cyclotron market size is expected to reach USD 284.3 million by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 10.9% during the forecast period. Increasing prevalence of cancer and surging demand for nuclear scans for accurate diagnosis are among the key factors stimulating the growth of the market. Apart from this, cost advantage over outsourced radioactive tracers and availability of technologically advanced diagnostic devices such as PET and SPECT are playing a pivotal role to escalate market growth.

Cancer is becoming the global pandemic as it causes one in eight deaths worldwide. According to the International Agency for Research on Cancer (IARC), in 2012, there were about 14.1 million new cancer cases and 8.2 million deaths due to cancer. With continuous increase in the incidence of chronic diseases, the number of new cancer cases is anticipated to reach 21.7 million and result in 13 million deaths by 2030. Due to mounting cases of cancer, the need for accurate diagnostics is increasing, which is estimated to fuel the demand for medical cyclotrons.

Nuclear scans for diagnosis use a smaller amount of radioactive material. Nuclear tracers help to find the exact location of growing tumors. Technetium-99m (Tc-99m), strontium, thallium, gallium, and radioactive iodine are some of the radioactive materials used in diagnosis and treatment of tumor. Increase in acceptability of particle accelerators for manufacturing tracer material is projected to trigger the growth of the market over the forecast period.

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Further Key Findings From the Report Suggest:

  • Asia Pacific held the leading share of about 50.0% in 2016, due to spiraling demand for nuclear scans, rising cancer prevalence, and increasing demand for cost-effective diagnosis
  • North America was estimated to be the second-largest market in terms of revenue, valued at USD 26.4 million in 2016
  • The cyclotron 10–12 MeV segment is anticipated to post a CAGR of 10.6% between 2017 and 2025
  • Some of the key players are IBA; GE Healthcare; Siemens Medical Solutions USA, Inc.; Advanced Cyclotron Systems; Sumitomo Heavy Industries, Ltd.; and TeamBest.

Cardiovascular Repair And Reconstruction Devices Market Worth $4,481.5 Million By 2025

Cardiovascular Repair And Reconstruction Devices Market Growth & Trends

The global cardiovascular repair and reconstruction devices market is expected to reach USD 4,481.5 million by 2025, according to a new report by Grand View Research, Inc. Increase in the prevalence of Congenital Heart Defects (CHDs) and the availability of technologically advanced cardiovascular valves, grafts, and patches are among key factors expected to drive growth over the forecast period.

Various initiatives by government organizations for the management of cardiovascular diseases is also expected to drive growth. For instance, American Heart Association funds research projects pertaining to CVD. It has funded some breakthrough projects in cardiology, such as techniques & standards for Cardiopulmonary Resuscitation (CPR), the first artificial heart valve, cholesterol inhibitors, implantable pacemakers, drug-eluting stents, and microsurgery. The foundation has funded more than USD 4 billion in the research projects since 1949.

Increase in the demand for effective therapies that reduce the incidence of adverse cardiac remodeling and help in regeneration or replacement of the myocardial tissues that get damaged during ischemic events is also anticipated to boost the cardiovascular repair and reconstruction devices market over the forecast period. Incidence of various CVD, such as heart attacks, stroke, and cardiac arrest, is rising owing to several risk factors such as changes in lifestyle, smoking, alcohol consumption, physical inactivity, improper nutrition, and obesity. According to American Heart Association, cardiovascular diseases accounted for about one in three deaths in the U.S. The medical cost of CHD is anticipated to increase by nearly 100% between 2013 to 2030. These factors are expected to boost growth over the forecast period.

Technological advancements in the fields of material sciences, interventional cardiology, and cryopreservation are also expected to drive the cardiovascular reconstruction devices market. The use of expanded PTFE for cardiovascular patches, introduction of transcatheter heart valves, and the development of minimally invasive technologies, such as transcatheter aortic valve implantation or transcatheter aortic valve replacement, are among few factors expected to boost growth over the forecast period. In addition, developments in cryopreservation techniques by key players such as CryoLife are among major technological advancements in cardiovascular therapies that are predicted to positively influence the market.

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Cardiovascular Repair And Reconstruction Devices Market Report Highlights

  • The cardiovascular grafts segment emerged as the largest segment in 2016 owing to increase in their adoption in pediatric cardiovascular surgeries for the treatment of CHDs
  • The cardiovascular patches segment is anticipated to be the fastest growing with a growth rate of 6.4%
  • Some of the major players operating in this market are Medtronic; Bard Peripheral Vascular; Terumo Cardiovascular Systems Corporation; W.L. Gore & Associates, Inc.; Getinge AB; CryoLife, Inc.; Edwards Lifesciences Corporation; Baxter; and Admedus.

Legal Marijuana Market Size Worth $73.6 Billion By 2027 | CAGR 18.1%

The  during the forecast period. Increasing legalization of cannabis for medical as well as adult-use is expected to promote growth.

On the basis of type, the medical segment held the leading revenue share of 71.0% in 2019, owing to the growing adoption of cannabis as a pharmaceutical product for treating severe medical conditions, such as cancer, arthritis, and Parkinson’s disease and Alzheimer’s disease among other neurological conditions. Moreover, increasing need for pain management therapies along with growing disease burden of chronic pain among elders is expected to boost the product demand.

Based on product type, the legal marijuana buds segment accounted for the largest market share in terms of revenue and was valued at USD 9.1 billion in 2019. Buds are primary plant products and are readily available without any processing, which makes them relatively affordable for low-income patients. Moreover, the rapid onset of action of smoking buds compared to other types is anticipated to further fuel the segment growth.

Based on medical applications, the chronic pain segment dominated the legal marijuana market in 2019 owing to presence of a large patient pool. On the other hand, mental disorder application is expected to witness the fastest growth over the forecast period owing to the growing number of patients suffering from mental disorders, such as anxiety disorder, depressions, and Alzheimer’s disease.

Based on geography, North America held the largest revenue share at 88.4% in 2019, owing to the increasing legalization of medical marijuana and liberalism of government regulations regarding the same. The legalization of medical cannabis Canada, Israel, and some countries in Europe and South America, owing to its multiple therapeutic applications is expected to promote the growth. Moreover, the recent legalization of cannabis for medical purposes in countries like Australia, Germany, and Poland is expected to create lucrative opportunities for market stakeholders.

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  • Based on marijuana type, the medical segment held the largest market share of 71.0% in 2019 owing to the increasing use of the product for the treatment of cancer and other medical conditions
  • By product type, the buds segment hold the largest market share in 2019 with a revenue of USD 9.1 billion owing to the easy availability of buds than other products
  • Key players operating in the legal marijuana market include Aurora Cannabis; Canopy Growth Corporation; Maricann Group, Inc.; GW Pharmaceuticals, plc.; Aphria, Inc.; Tilray; The Cronos Group; ABcann Medicinals, Inc.; Lexaria Corp.; and Organigram Holding, Inc.

KSA Air Ambulance Market Worth $146.8 Million By 2025 | CAGR 10.4%

KSA Air Ambulance Market Growth & Trends

The Kingdom of Saudi Arabia (KSA) air ambulance market size is expected to reach USD 146.8 million by 2025, according to a new report by Grand View Research, Inc., registering a 10.4% CAGR during the forecast period. Rise in per capita healthcare expenditure and increasing penetration of private hospital chains are some of the key factors contributing to market growth.

Increasing prevalence of chronic diseases such as cardiac conditions, which demand emergency medical response, and improvement in medical infrastructure in entertainment and sports industries are also anticipated to boost the market.

Disease prevalence of chronic disorders, especially cardiac disorders, is one of the major causes of death in Saudi Arabia. An estimated 42.0% of deaths in Saudi Arabia are due to cardiac disorders. Rapid socioeconomic growth in Middle Eastern countries has resulted in drastic lifestyle changes, which can be considered as a major reason for increasing prevalence of lifestyle disorders.

The per capita healthcare expenditure in Saudi Arabia has increased by 80.7% since 1995, and as of 2014 it was found to be USD 1,147.45. This is anticipated to increase the demand for more innovative emergency medical service facilities. This, in turn, is expected to increase the demand for air ambulance services.

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KSA Air Ambulance Market Report Highlights

  • The hospital-based service model is anticipated to reach USD 117.1 million by 2025 in terms of revenue, at a CAGR of 10.3% from 2017 to 2025
  • In terms of growth rate, the community-based service model segment is projected to ascend at a CAGR of 10.6% over the forecast period
  • The rotary wing segment dominated the Kingdom of Saudi Arabia air ambulance market with a share of over 75.0% in 2016
  • Some of the key companies present in the market are Saudi Air Ambulance; Fakeeh International; ALPHASTAR; Air Ambulance Worldwide, Inc.; Plures Air; and Global Air Rescue.

Zika Virus Testing Market Size Worth $580.4 Million By 2027

The global zika virus testing market size is expected to reach USD 580.4 million by 2027, according to a new report by Grand View Research, Inc., progressing at a CAGR of 7.6% during the forecast period. Zika virus outbreak in 2016 contributed to the rise in response strategies and diagnostic surveillance activities. Widespread incidence of the disease in 2016 was mostly a result of travel-based viral transmission. The recently drawn correlation between Zika virus infection and microcephaly in newborns is further stoking growth of the market.

Spiraling demand for Zika Virus Testing stems from government-led preparedness programs and support from international organizations such as UNICEF. Stockpiling and emergency preparedness initiatives focus on endemic regions as well as immunologically naïve population subsets in the Asian and African markets, which hold high threat of future outbreaks. These developing regions, currently not classified as endemic, are host to temperature changes, humidity, and precipitation as well as reported vector presence that cumulatively provide a supportive habitat for the causative vector, Aedes aegypti mosquitoes.

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Further key findings from the report suggest:

  • NAAT and serological segments in the Zika Virus Testing market held nearly equal market share in 2016. However, the former was preferred for its cost effectiveness in analyzing high volume of tests during the epidemic
  • Serological tests are gaining preference as they can provide differential diagnosis and are performed to detect late-stage infections
  • In 2016, the U.S. states and territories dominated the market in terms of revenue. Increasing blood donation screening using individual donor NAAT tests to prevent transfusion-related disease transmission is one of key factors contributing to the market.
  • Latin America followed in terms of market share as it witnessed more than 50% of the globally recorded disease incidence in 2016. Brazil’s National Development Bank announced funding worth USD 136.6 million, which will drive disease surveillance activities with improved rapid tests to fight zika virus infection in the country
  • UNICEF awarded long-term arrangement contracts, effective until 2019, to Chembio Diagnostic Systems, Inc. and SD Biosensors, Inc. for the supply of ZIKV diagnostics
  • In 2016, Quest Diagnostics, Inc.; Roche; and Hologic were among the leading market players with FDA-approved diagnostics under emergency use authorization
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Anastomosis Devices Market Size Worth $24.84 Million By 2025

Anastomosis Devices Market Growth & Trends

The global anastomosis devices market size is projected to reach USD 24.84 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.2% during the forecast period. Rising prevalence of cardiovascular and gastrointestinal diseases is poised to propel the demand for anastomosis devices in the coming years.

According to WHO, 17.7 million people died from CVD in 2015, which represented 31.0% of all deaths in the world. It also states that 80% of these deaths are due to strokes and heart attacks. CHD/CAD (Coronary Heart/Artery Disease) is the most common type of heart disease and around 370,000 people die annually in the U.S. Surgery is crucial for the treatment of such life-threatening diseases, thereby increasing the adoption of anastomosis devices in these surgeries.

Lifestyle associated changes, medical procedures, and/or drug therapy can be effectively used to prevent or treat CAD in most people. Clearly, invasive cardiac surgery is not the first-line of treatment for patients, where less invasive options such as angioplasty and stenting are feasible. Nevertheless, for many patients with advanced or diffuse diseases, surgery remains the best option and anastomosis devices are widely used in such surgeries. Swelling demand for CABG, increasing geriatric population, reduced risk associated with surgery, and growing number of people who need re-operations after 10 to 12 years from their first bypass surgery.

Introduction of technologically advanced products with associated advantages such as less exposure to anesthesia, reduced operating time, reduced chances of blood leaks, and convenience are among factors likely to stoke growth of the market. Moreover, presence of favorable reimbursement structure in developed countries is estimated to bolster the growth of the market. For instance, Medicare policies in the U.S. offer reimbursement for CABG and colorectal surgery.

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Anastomosis Devices Market Report Highlights

  • Disposable anastomotic devices will continue to dominate the market until 2025, commanding just over 88.0% of the overall market. The growth of the segment can be attributed to wide product offering of various market players
  • Reusable anastomotic devices are anticipated to exhibit a CAGR of about 6.0% over the forecast period owing to increasing need to reduce biomedical waste
  • On the basis of application, cardiovascular surgery held the largest share of the market in 2016 owing to rising prevalence of CHD and increasing number of CABG procedures around the globe
  • North America was at the forefront in the global arena owing to presence of well-structured reimbursement policies, widening base of target population, and local presence of a large number of key players
  • Asia Pacific is expected to grow at a lucrative rate of 6.1% during the forecast period owing to growing geriatric population, rising incidence of CVD, rapid developments in the healthcare sector, and increasing disposable income
  • Key market players are engaged in various strategies such as distribution agreements to augment their market penetration. For instance, in February 2016, Maquet Medical Systems USA entered into a distribution agreement with BIOTRONIK to distribute the latter’s peripheral vascular devices in the U.S.

Wednesday 22 July 2020

Protein Purification And Isolation Market Worth $11.2 Billion By 2027

The global protein purification and isolation market size is expected to reach USD 11.2 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 8.3% over the forecast period. Increase in technological advancements and investments for the development of structure-based drugs by both private and public research organizations are driving the demand for protein purification and isolation products.

Rising demand for the development of single-use products for purification due to increasing need to classify novel protein-based ligands with high specificity and improved proteomics research are further driving market growth. Another factor driving the adoption rate of protein purification techniques is the availability of an extensive range of innovative resins for various applications.

The key players operating in the market are Merck KGaA; Thermo Fisher Scientific; Qiagen; Sigma-Aldrich Co.; GE Healthcare; Agilent Technologies; Bio-Rad Laboratories, Inc.; Norgen Biotek Corporation; Abcam plc, and Promega Corporation. Market players are adopting strategies such as expansion of product portfolio through R&D initiatives, mergers, acquisitions, and strategic collaborations to further strengthen their position in the market.

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Further key findings from the report suggest:

  • The reagents segment is estimated to register a significant growth rate over the forecast period. This is attributed to its high usage in cell lysis and increased commercialization of advanced resins
  • On the basis of technology,chromatography emerged as the leading segment in 2019 owing to the availability of a varied range of products, enhanced results for complex protein purification, and high reliability
  • Drug screening is estimated to be the fastest-growing application segment over the forecast period owing to factors such as high efficacy and increasing R&D investments by manufacturers for the screening of novel drugs
  • Contract research organizations (CROs) are projected to witness a significant growth rate over the forecast period. This is attributed to increasing R&D investments and growing number of preclinical trials outsourced by drug development firms
  • North America dominated the global protein purification and isolation market in 2019 owing to factors such as established research infrastructure, presence of major players, and technological advancements in the region
  • Asia Pacific is estimated to register the highest CAGR over the forecast period due to increasing economic stability, growing number of CROs, and R&D activities in academic and research institutes.

Bone Growth Stimulator Market Size Worth $1.4 Billion By 2025

The global bone growth stimulator market size is expected to reach USD 1.4 billion by 2025, according to a new report by Grand View Research, Inc. Escalating demand for noninvasive and minimally invasive treatments is a major factor estimated to boost market growth during the forecast period. Some advantages offered by minimally invasive surgeries are smaller incisions, low risk of infections, speedy recovery, shorter stay at the hospital, reduced scarring, and minimal blood loss during surgery. Thus, there is high adoption of Bone Morphogenetic Proteins (BMP) and Platelet-rich Plasma (PRP) for minimally invasive spinal and orthopedic surgeries, which is expected to boost market growth.

Rising number of trauma and accident cases is another major factor projected to support growth of the bone growth stimulator market. According to WHO, around 20 to 50 million people are injured every year due to road accidents. Road accidents and trauma are likely to result in severe spinal injuries as well as delayed union or nonunion of bone fractures, which is projected to drive demand for bone growth stimulators.

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Further Key Findings From the Report Suggest:

  • Bone growth stimulation devices segment was the largest revenue grossing segment of the market in 2016 owing to high demand for noninvasive treatments by patients as well as product advancements
  • PRP segment is estimated to grow at the highest CAGR during the forecast period owing to its growing popularity for bone and soft tissue healing, as well as its favorable safety profile and potential promising outcome for development of regenerative treatments
  • In the application segment, the spinal fusion surgeries segment accounted for the largest share in 2016 and is projected to maintain its dominance during the forecast period owing to escalating number of spinal injuries, fractures, and spinal stenosis
  • The hospitals segment accounted for the largest share in the overall market and is expected to maintain its dominance during the study period due to escalating number of admissions of patients suffering from traumatic injuries, road accidents, spinal injuries, and bone fractures
  • North America dominated the overall market in 2016 mainly due to the existence of several leading medical device companies in this region and highly developed healthcare infrastructure
  • The Asia Pacific bone growth stimulator market is projected to grow at the highest rate during the forecast period. Rising number road accidents and developing healthcare infrastructure in Asian countries, including China, India, and Indonesia, are major factors contributing to growth in this region
  • Some of the major players are Orthofix Holdings, Inc.; Medtronic; Zimmer Biomet; DJO Global, Inc; Bioventus; Stryker; DePuy Synthes Companies; Arthrex, Inc.; Isto Biologics; and Terumo BCT, Inc.

Robotic Prosthetic Market Worth $2.1 Billion By 2027 | CAGR: 9.2%

The global robotic prosthetic market size is anticipated to reach USD 2.1 billion by 2027, expanding at a CAGR of 9.2%, according to a new report by Grand View Research, Inc. Increasing cases of amputation, advancements in robotic space, and a rise in the number of ulcers, diabetes, and congenital abnormalities that lead to amputation are estimated to drive growth over the forecast period. Moreover, increasing government funding and innovations in robotic space are anticipated to drive growth over the forecast period.

Based on technology used, the market is segmented into MPC Prosthetics and Myoelectrical Prosthetics. MPC technology dominated the market in 2019, and is forecasted to grow at a lucrative rate over the forecast period. Whereas, Myoelectrical prosthetics is anticipated to be the fastest-growing segment during the forecast period. The prosthetics operate on electric power, without putting any extra stress or muscle tension on the wearer. This advantage of Myoelectrical technology over MPC is anticipated to drive segment growth over the forecast period.

Based on the extremity, the robotic prosthetic market is segmented into upper extremity and lower extremity. Lower extremity dominated the market in 2019, and is also expected to grow at the fastest rate over the forecast period. Increasing amputations of the lower limb owing to the high incidence of the diabetic foot and vascular diseases are anticipated to drive segment growth. Moreover, the launch of innovative products by major players is further anticipated to drive growth over the forecast period.

North America dominated the market in 2019, with a revenue share of 43.5%. Major factors driving the growth are increasing healthcare expenditure, improvements in robotic space and favorable government initiatives with regards to supporting robotic technology in U.S. are the major factors driving the growth. Asia Pacific is anticipated to be the fastest-growing region, owing to the growing investments in the robotic field and rising healthcare expenditure.

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Further key findings from the report suggest:

  • The market is anticipated to reach USD 2.07 billion by 2027, owing to the advancements in robotic space
  • The myoelectric prosthetics segment is expected to be the fastest growing with a CAGR of 10.3%, as it operates on electric power without stressing the wearer
  • Lower extremity dominated the space in 2019 with a CAGR of 9.5%, owing to the increasing number of lower limb amputation and growing prevalence of diabetic foot
  • North America dominated the robotic prosthetic market in 2019 with a value of USD 454.9 million, as the adoption of technologically advanced products in the region is high
  • Some of the key players are Ottobock; Touch Bionics, Inc.; Shadow Robot Company; and HDT Global.

Gamma Knife Market Size Worth $239.2 Million By 2025 | CAGR: 3.7%

Gamma Knife Market Growth & Trends

The global gamma knife market size is expected to reach USD 239.2 million by 2025, expanding at a CAGR of 3.7%, according to a new report by Grand View Research, Inc. Increasing prevalence of cancer, brain tumors, and other neurological diseases, rising adoption of these instruments in surgery centers, growing preference for Minimally Invasive Surgeries (MIS), and technological advancements in the device are amongst few factors expected to drive the market.

Gamma knife therapy is used for treatment of various brain and neurological disorders such as brain tumors, brain metastases, epilepsy, and arteriovenous malformations. Demand for these instruments in surgery centers is growing due to their various advantages such as safety, micro precision, lack of postsurgical complications, and lack of incisions.

Technological advancements have improved precision in surgery. For instance, upgradation of Leksell Gamma Knife models U, B, C/4C, and Perfexion to Icon provided micro precision in surgery and boosted adoption of this device in surgery centers. According to reports published by Elekta AB, approximately 70,000 patients undergo gamma knife surgery each year. This number is expected to increase over the forecast period owing to rising prevalence of target diseases and increasing preference for MIS.

In addition, growing demand for MIS over open surgeries is one of the key factors responsible for increasing adoption of this therapy. Gamma knife treatment procedure results in fewer traumas and faster recovery as compared to open surgeries. It helps reduce hospital stays, thus ensuring economic viability and reduction in medical expenses. Lack of incisions and postsurgical complications are key factors responsible for boosting demand for minimally invasive surgeries.

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Gamma Knife Market Report Highlights

  • Global gamma knife market size was estimated at USD 171,505.7 thousandin 2016 and is expected to grow at a CAGR of around 3% from 2017 to 2025
  • Malignant tumors emerged as the largest segment and the ocular diseases segment is anticipated to witness fastest growth over the next 8 years
  • The Asia Pacific region is anticipated to witness lucrative growth over the next decade owing to rising incidence of cancer, developments in healthcare infrastructure, and rapid economic development across major emerging economies. It is expected to grow at a CAGR of around 4% over the forecast period
  • Elekta AB is the only player operating in this market since Gamma Knife is a patent-protected trademark product of the company.

Infectious Disease Therapeutics Market Worth $86.2 Billion By 2025

The global infectious disease therapeutics market is expected to reach USD 86.2 billion by 2025, according to a new report by Grand View Research, Inc. The market is primarily driven by increasing number of Human Immunodeficiency Virus (HIV), Human Papillomavirus (HPV), TB, and hepatitis cases globally.

Government and private organizations are investing heavily in the healthcare sector to prevent, diagnose, and treat infectious diseases; rising investments for development of new drugs to treat infectious diseases, and increasing number of initiatives for creating awareness about these conditions are expected to boost the market during the forecast period. Furthermore, increasing number of patent expirations and entry of generic drugs in the market are expected to increase the demand for infectious disease therapeutics due to their low prices.

In addition, availability of reimbursement for diagnosis & treatment of these infections and free distribution of drugs by manufacturers in regions with high incidence of these diseases are factors further expected to propel the market growth. However, low penetration rate of anti-infective and availability of large number of counterfeit drugs are expected to restraint the market growth during the forecast period.

North American market held the largest share in 2016. Presence of large number of manufacturers, favorable reimbursement scenario, and increasing healthcare expenditure are major factors responsible for the largest share held by this region. However, Asia Pacific is likely to grow at the highest rate between 2017 and 2025. High prevalence of infectious diseases; improving economic conditions in Asian countries, rising government initiatives to increase the adoption of treatments for infectious diseases, and rising funding activities are factors that can be attributed for the highest growth rate of this region during the forecast period.

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Further Key Findings From the Report Suggest:

  • The HIV therapeutics segment held the largest revenue share in 2016 due to high number of HIV cases globally
  • North America dominated the global market owing to the strong reimbursement framework coupled with high adoption rate of treatments for infectious diseases
  • The HPV therapeutics segment is estimated to grow at the highest rate during the forecast period
  • Some of the key players areNovartis AG, Gilead, GlaxoSmithKline plc, Janssen Pharmaceutical, Inc., F. Hoffmann-La Roche Ltd., BioCryst Pharmaceuticals, Inc., and Boehringer Ingelheim GmbH

Gene Expression Market Size Worth $11.3 Billion By 2025 | CAGR 5.8%

Gene Expression Market Growth & Trends

The global gene expression market size is expected to reach USD 11.3 billion by 2025, at a CAGR of 5.8% according to a new report by Grand View Research, Inc. Globally rising demand for targeted molecular therapeutics coupled with rising adoption of precision medicine is anticipated to fuel market growth.

Understanding gene expression under different conditions as well as the effects it has on different metabolic activities has opened various vistas for the development of a novel generation of molecular therapeutics. Search for methods to manipulate the way a coding DNA is expressed as a cure to different conditions arising due to abnormally expressed genes is expected to drive market.

Target expression analysis and single cell analysis using low- to mid- plex techniques to identify smallest differences and correlations in gene expression. Novel products focusing on with improved efficiency and reliability are launched for smaller samples. Increased interest stem cell and gene therapy are projected to propel revenue generation for the market.

Emerging NGS technologies coupled with their drastically declining prices are anticipated to boost adoption of gene expression techniques. Furthermore, government support through initiatives such as Precision Medicine Initiative would encourage private investments in the sector leading to market growth.

Drug discovery and development was estimated with largest share owing to higher adoption in drug response testing for severs and complicated diseases such as all types of cancer, tuberculosis, cardiac conditions and rare genetic disorders. However, clinical diagnostic application is projected with fastest growth owing to rising demand for rapid and accurate diagnosis of complex diseases coupled with their higher incidence.

Rising demand for precision medicine, higher prevalence of genetic disorders, and rapid advances in biotechnology is attributive to largest contribution to revenue by North America. Owing to the presence of countries, witnessing rapid economic developments and demand for better health care solutions Asia Pacific is anticipated to witness the fastest growth.

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Gene Expression Market Report Highlights

  • RNA expression dominated the market with respect to analysis technique as the increased interest of researchers has been observed to have been directed to understanding RNA activity to better understand its effects on diseases
  • As there are a high number of products available for low to mid-plexing of gene expression, the segment was observed to have accounted for the higher share
  • Rising focus on higher accuracy is anticipated to drive growth of high-plex techniques.
  • Moreover, increased focus on cancer genomic is anticipated to bolster growth
  • Introduction of improved data analytics & interpretation with high turnaround efficiency coupled with increase in incidences of target diseases are vital factor influencing R&D.
  • Substantial adoption of gene expression techniques the U.S. can be attributed for the largest share of North American market.
  • Asia Pacific is anticipated to witness a high growth rate due to the presence of initiatives by key market participants to enhance presence in these emerging economies due to the presence of untapped potential
  • Key players contributing in this market are Qiagen, Quest Diagnostics Incorporated, Illumina, Bio-Rad Laboratories, Oxford Gene Technology, TAKARA,Biocartis Group NV, MYRIAD GENETICS, INC.

Aromatherapy Market Size Worth $2.8 Billion By 2026 | CAGR: 10.4%

The global aromatherapy market size is anticipated to reach USD 2.8 billion by 2026, expanding at a CAGR of 10.4% during the forecast period, according to a new report by Grand View Research, Inc. This growth can be attributed to the increased awareness about the therapeutic benefits of essential oils.

Aromatherapy is expected to play a significant role in the field of alternative medicines with a gradual shift from man-made drugs to essential oils to gain therapeutic values. On the basis of a 2016 article by the National Center for Biotechnology Information (NCBI), a clinical trial was conducted on 50 patients suffering from second- and third-degree burns, to study the effects of inhaling these products. The result showed that the products were significantly effective in reducing pain arising from such wounds. Hence, aromatherapy can be used as a complementary therapy for pain relief amongst burn patients, thereby, supporting the market growth. Some of the other therapeutic applications include issues related to skin, digestion, respiratory disorders, insomnia, and immune system functioning.

Essential oils also possess many factors that make them naturally healing solutions. Therapeutic grade essential oils positively impact the overall wellness of the patient. These products have the potential to be natural cleansers and an antibacterial remedy when ingested. People are also becoming aware of the benefits offered by natural therapies as they support the body’s innate healing abilities. With experience and education, they are realizing that bacteria and viruses do not develop resistance to natural substances, the way they do in case of synthetic drugs.

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Further key findings from the study suggest:

  • In 2018, consumables held the largest market share due to the high therapeutic value of aromatherapy products
  • Equipment segment is expected to witness lucrative growth over the forecast period due to the availability of new diffusers with advanced features
  • Topical application led the market in 2018 owing to the wide therapeutic applications available for the target population
  • Relaxation contributed to the maximum revenue for the market in 2018 owing to the increased number of people suffering from stress and anxiety disorders
  • Skin and hair care is anticipated to showcase lucrative CAGR over the forecast period due to increasing incidence of skin allergies
  • Direct-to-customer involves multilevel marketing of aromatherapy products and is estimated to account for the largest market share in terms of revenue
  • Majority of patients prescribed with essential oils for diseases tend to make use of aromatherapy products in the vicinity of their homes, thus, leading to high market share in 2018
  • North America led the aromatherapy market in 2018 due to the huge growth of retail sector
  • Few key players include dōTERRA; Edens Garden; Young Living Essential Oils; Frontier Natural Products Co-op; Rocky Mountain Oils; Rocky Mountain Oils, LLC; Plant Therapy Essential Oils; FLORIHANA; and Biolandes.

Forensic Technology Market Worth $40.4 Billion By 2025 | CAGR: 12.7%

The global forensic technology market size is expected to reach USD 40.4 billion by 2025, according to a new report by Grand View Research, Inc. Innovations in forensic science lead to the development of advanced techniques for solving crimes and increasing the efficiency of DNA testing. Government initiatives for achieving progress in research in forensic science, which is critical for public safety, is widening the scope for forensic technology market growth. For instance, the National Institute of Justice (NIJ) entered into a partnership with the National Institute of Standards and Technology (NIST), and National Science Foundation (NSF) to develop new techniques.

These organizations have also jointly initiated the Industry/University Cooperative Research Centers Program that aids in industry and academic collaborations for efficient R&D in forensic science. One of the major contributions by this program includes the development of practices for preservation and handling of DNA &other biological evidence. These agenda of this program is to enhance the interoperability of national as well as regional automated fingerprinting identification systems, limit investigator bias, and develop standards for efficient analysis in criminal cases.

U.S. forensic technology market by product, 2014–2025 (USD Million)

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Further Key Findings From the Report Suggest:

  • Capillary electrophoresis accounted for the largest part of the type segment in 2016. This can be attributed to high penetration in various applications such as toxicology studies, illicit drug analysis, and ballistics
  • In the services segment, chemical analysis captured the dominant share in 2016. This is a result of increasing adoption of this technique in fire debris analysis, serology, bloodstain pattern analysis, and fingerprinting
  • In the application segment, judicial/law enforcement held the largest part in 2016 owing to the growing number of government initiatives intended toward clearing backlogs of criminal cases that require concrete evidence
  • Laboratory technology held a substantial share of the location segment. This is a consequence of consistent usage due to its ability to analyze a large number of samples
  • North America held the largest share of the market owing to the increase in the number of supportive government initiatives aimed toward promoting the usage of forensic technologies
  • Asia Pacific is anticipated to witness lucrative CAGR during the forecast period. The lucrative growth rate can be attributed to the development of advanced infrastructure for testing facilities
  • High competition has been observed as a result of key players adopting strategies that include new product development and strategic collaborations & agreements to gain competitive advantage

Tuesday 21 July 2020

Perfusion Systems Market Size Worth $183.8 Million By 2025

Perfusion Systems Market Growth & Trends

The global perfusion systems market size is expected to reach USD 183.8 million by 2025, according to a new report by Grand View Research, Inc. Rising demand for transplantation owing to increased incidence of vital organ failures is a major growth driver of the market. To curb this problem, Machine Perfusion (MP) is adopted by clinics. Hence, the demand for the same is expected to grow over the coming years.

Statistics published by the National Kidney Foundation in 2014 states that 4,761 patients died due to the unavailability of a kidney. This showcases the need for viable donated organs for transplantation, thereby boosting the market growth.

The introduction of technologically advanced products for the purpose of enhanced efficiency and cost-effectiveness is expected to serve this market with lucrative opportunities. For instance, the introduction of portable organ perfusion systems is presumed to gain popularity over the coming years owing to associated benefits with its usage such as ease of access, cost-efficiency, and portability.

Market participants are involved in extensive R&D for the development of innovative perfusion techniques. For instance, TransMedics, Inc. carried out the world’s first warmblood perfusion liver transplantation with its innovative TransMedics Organ Care System Liver technology.

Moreover, many market players in the U.S. and Europe are involved in the development of new products that are in clinical trials. For example, METRA developed by OrganOx Ltd. for automatic liver transportation and normothermic liver perfusion is under clinical study in the U.S. The expected product approvals in the coming years are anticipated to serve this industry with lucrative growth opportunities.

U.S. perfusion system market, by technology, 2014–2025 (USD million)

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Perfusion Systems Market Report Highlights

  • Presence of government initiatives such as National Organ Transplant Programme in India and initiatives from nonprofit organizations such as Donate Life America in the U.S. are contributing toward increasing awareness level
  • Introduction of warm blood perfusion technology is expected to offer this industry with future growth opportunities
  • Hypothermic MP held the dominant share as of 2016 owing to increasing adoption for kidney preservation. These systems are capable of preserving an organ for a longer duration as compared to static cold storage. The associated benefits with the use of this technology are expected to fuel the demand
  • The MP technology for kidney transplantation segment held a dominant share as of 2016 owing to benefits attached to its usage
  • As of now, there are two MP systems that are approved by the U.S. FDA including LifePort Kidney Transporter by Organ Recovery Systems Inc. and WAVES RM3 by Waters Medical Systems
  • The Asia Pacific regional industry for MP is expected to witness lucrative CAGR during the forecast period
  • The perfusion system participants are focusing on the development of cost-effective solutions, thereby increasing R&D activities for the development of novel technologies

Joint Reconstruction Devices Market Size Worth $30.4 Billion By 2025

Joint Reconstruction Devices Market Growth & Trends

The global joint reconstruction devices market size is expected to reach USD 30.4 billion by 2025, according to a new report by Grand View Research, Inc. High adoption of minimally invasive surgeries across the globe has given rise to technological advancement in surgical devices and procedures. In addition, growing prevalence of joint-related conditions and changing therapeutic approaches are expected to boost the market growth.

The joint reconstruction devices market is largely dependent on technological development. Ongoing studies on improving robotically-assisted surgeries and bionic implants are expected to play a pivotal role in the development of total joint replacement surgeries market. These advancements are expected to help in complex surgeries to improve success rate of these procedures and increase patient convenience.

A major share of the joint reconstruction market is captured by large joints. Knee and hip joint reconstruction together captured more than half of the revenue share in 2016. The prevalence of conditions related to these two joints is higher as compared to other joints due to overuse. Treatment of conditions related to these joints is crucial to recover the mobility of patients. Thus, a significant amount of funds are invested in R&D of large joint reconstruction techniques.

India joint reconstruction devices market, by technique (USD Million)

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Joint Reconstruction Devices Market Report Highlights

  • Joint replacement techniques captured the largest share in 2016 and is expected to maintain dominance throughout the forecast period. High procedural volume and high price of implants are anticipated to drive growth.
  • Development of operating techniques, allografts, and synthetic bone grafts are expected to boost growth of the bone graft segment. The segment is further divided into allograft and synthetic sub-segments.
  • The knee segment is expected to dominate the joint reconstruction devices market throughout the forecast period. Availability of a large number of treatment options and introduction of innovative surgical techniques are expected to drive the growth of the segment.
  • Developing economies, increased foreign direct investment, rising demand, and emergence of local players are factors that are expected to render fastest growth in the Asia Pacific region.
  • Key players of the market include Medtronic; Nuvasive, Inc.; Zimmer Biomet; Stryker; DePuy Synthes; Aesculap Implant Systems, LLC; Smith and Nephew; CONMED Corporation; and DJO Global, Inc.

Electrodes For Medical Devices Market Size Worth $2.0 Billion By 2025

Electrodes For Medical Devices Market Growth & Trends

The global electrodes for medical devices market size is expected to reach USD 2.0 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness lucrative growth during the forecast period, owing to increasing prevalence of chronic and other diseases such as heart diseases, Parkinson’s Disease (PD), Alzheimer’s disease, brain disorders, Trigeminal Neuralgia (TN or TGN), sinusitis, tinnitus, Raynaud’s disease, fibromyalgia, circulatory disturbances, gout, and body ache, across the globe.

Minimally Invasive Surgery (MIS) is one of the advancements in medical technology in which small incisions are made in the body for laparoscopy, endoscopy, arthroscopy, and other surgical procedures. This procedure is gaining popularity owing to faster recovery, lesser postsurgical infections, pain, & major bleeding, reduced scarring, and high accuracy benefits. In 2015, over 20.0 million Americans underwent MIS, which is expected to assist in the growth of this vertical during the forecast period.

U.S. Electrodes for medical devices market, by diagnostics, 2014–2025 (USD Million)

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Electrodes For Medical Devices Market Report Highlights

  • The diagnostic segment held a profitable revenue share in 2016 and is expected to grow at a significant rate over the forecast period.
  • Rising prevalence of heart diseases, fetal distress syndrome, ocular diseases, and neurological disorders make extensive use of Electrocardiogram (ECG), Electroencephalogram (EEG), electrosurgical, and fetal scalp electrodes
  • The therapeutic segment is anticipated to witness the fastest growth over the forecast period due to widened use of medical electrodes in aesthetic surgeries, RF ablation procedures, neurosurgical procedures, and acute & chronic pain treatments
  • Defibrillator and electrosurgical electrodes are projected to hold substantial market share over the forecast period. This can be attributed to the advanced development of wearable defibrillator that constantly monitors the cardiac rhythms of the wearer and identifies & notifies the user about the occurrence of any abnormality and helps regain the normal heart functionality
  • North America is expected to dominate the medical electrodes devices market during the forecast period, owing to the rising prevalence of CVDs, changing lifestyle of individuals, and presence of target population in the U.S. and Canada. In addition, the presence of advanced technologies with electrodes such as hydrogel and dry electrodes in the region are expected to spur the medical electrodes market growth.
  • Some of the key players in medical electrodes market are 3M Healthcare; Boston Scientific Corporation; GE Healthcare; C.R Bard Inc.; CONMED Corporation; Medtronic; Natus Medical Incorporated; Thermo Fisher Scientific Inc.; Asahi Kasei Corporation; and Philips Healthcare
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