Medical Devices

Research Reports in Medical Devices

Next-Generation Surgical Glue Market
September, 2022

The Next-generation Surgical Glue Market size is anticipated to reach over USD 4.3 Billion by 2031, growing at a rate of 7.65% from 2022 to 2031.

Surgical glue is a polymer that is used to repair major as well as minor wounds, including, incisions made during laparoscopic surgery, lacerations, and wounds on the groin or in the face. The surgical glue is also known as “liquid stitches”, “tissue adhesive” or “2-octyl cyanoacrylate (DERMABOND)”. In addition, this glue has several benefits as compared to conventional staplers and surgical sutures which include less scarring, lower rates of infection, no stitches to remove, and lesser time in the operating room among others.

Global Next-generation Surgical Glue Market Scope and Report Structure
Report Attribute Details
Market Size in 2031$4.3 bn
Growth Rate (2022-31)7.65%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredType, Application, End-User, and Region
Key CompaniesGrünenthal Group, Braun Melsungen AG, Becton, Dickinson, and Company, Baxter International Inc., Advanced Medical Solutions Group plc, Cardinal Health Inc., CryoLife Inc., Johnson & Johnson, Medtronic plc,  and Integra LifeSciences Corporation
Regional ScopeNorth America, Europe, Asia Pacific, Rest of the World
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Drivers and Trends

Some of the factors contributing to the growth of the next-generation surgical glue market are the rising number of traumatic injuries, the growing number of surgical procedures and burn cases, in couple with the increasing incidences of road accidents worldwide. In addition, the growing health awareness in addition to the high prevalence of several diseases which includes respiratory diseases, heart diseases, cancer, and skin diseases have augmented the opportunities for surgeries globally. For instance, as per the World Health Organization (WHO) report 2020, nearly 1.35 million people die every year due to road traffic crashes. In addition, nearly 20-50 million people experience non-fatal injuries, with many experiencing a disability as a result of their injury. Over 90% of the global fatalities on the roads happen in low and middle-income nations, although these nations have around three-fifths of the world’s vehicles. Therefore, the growing occurrence of diseases accompanied by road injury cases is anticipated to drive the next-generation surgical glue market growth.

Further, surgical glue is rapidly achieving clinical approval on the back of the growth in demand for cutting-edge hemostasis products for advancing surgical outcomes in diverse medical specialties. Major companies in the next-generation surgical glue market are orientated on enhancing the user-friendliness, efficacy, as well as safety of adhesives & sealants used for closing incisions in traumatic injuries. This, in turn, has led to the initiation of ergonomic designs in the next-gen surgical glue market.

Further, the other factor boosting the growth of the Next-generation Surgical Glue Market is a rise in the prevalence of cardiovascular and orthopedic disorders. Besides, the growth of the Next-generation Surgical Glue Market is also attributed to the growing demand for high-performance and efficient surgical products globally. Increasing awareness regarding the benefits of the Next-generation Surgical Glue Market is expected to positively impact the revenue growth of the market over the forecast period. In addition, developments in Next-generation Surgical Glue positively contribute to the growth of the Next-generation Surgical Glue Market. Further, the rising demand for Next-generation Surgical Glue from emerging economies to treat patients suffering from various diseases effectively is expected to cater to the growth of the Next-generation Surgical Glue industry. Furthermore, technological advancements in Next-generation Surgical Glue are anticipated to offer lucrative opportunities for the market players.

Market Restraints & Challenges

One of the major factors hindering the Next-generation Surgical Glue Market growth is the higher cost of this glue than sutures. In addition, the other factor restraining the growth of the market is the fact that some people are allergic to it. Further, this glue cannot be used if a patient has an increased risk for slow wound healing. Slow wound healing occurs in patients having diabetes or some other health conditions.

Further, the increasing adoption of minimally invasive surgeries is projected to hinder the growth of the Next-generation Surgical Glue Market during the forecast period. In minimally invasive surgery, specialists use varied techniques in order to cause lesser damage to the body as compared to open surgeries. Besides, minimally invasive surgeries are lesser painful, have shorter hospital stays, are less risky, and have fewer complications.

Next-generation Surgical Glue Market Segmentation

The report analyses the Next-generation Surgical Glue Market based on type, application, end-user, and region.

Next-generation Surgical Glue Market by Type

Based on type, it is segmented into natural and synthetic & semi-synthetic. The natural is sub-segmented into fibrin, collagen, and gelatin. Likewise, the synthetic and semi-synthetic segment is also sub-segmented into cyanoacrylate, polymeric hydrogel, and urethane-based adhesive. The demand for synthetic and semi-synthetic segment is expected to grow significantly in the forecast period. The growth of this segment can be attributed to the rise in the number of surgical procedures performed globally. Synthetic and Semi-Synthetic glue is generally chosen by the patients owing to its better adhesion and cost-effectiveness as compared to natural glue.

Next-generation Surgical Glue Market by Application

By application, it is divided into pulmonary surgery, central nervous system surgery, cardiovascular surgery, orthopedic surgery, general surgery, cosmetic surgery, and others. The demand in the next-generation surgical glue market for cosmetic surgery is expected to grow significantly in the forecast period. Cardiovascular surgery is expected to hold a significant share of the market due to the rise in the number of cardiac disorders & laparoscopic surgeries, along with an increase in demand for next-generation surgical glue for performing surgeries efficiently.

Next-generation Surgical Glue Market by End-User

By end-user, it is categorized into hospitals, ambulatory surgical centers, and others. The demand for next-generation surgical glue in hospitals is expected to grow significantly during the forecast period. A variety of surgeries such as interventional cardiac procedures, open-heart surgery, and occlusion procedures are performed in the hospital cardiac departments. The rise in spending on healthcare infrastructure in emergent economies has resulted in the usage of cutting-edge surgical products in these facilities. In addition, numerous hospitals globally are funding to expand the cardiology unit. Therefore, due to the high procedural volume along with a preference for well-resourced facilities by patients, the hospital segment will witness robust growth in the upcoming years.

Further, there is an apparent lack of double-blind controlled trials and randomized trials in researchers assessing different surgical glues. Also, the landscape is not so regulated. This, in turn, may result in low compensation for the cost of surgical glues. Therefore, there is a need for improving the marketing strategies and goals of companies performing trials on surgical glues. Demand arising from ambulatory surgery centers is expected to help them surmount the price constraints.

Regional Analysis of Next-generation Surgical Glue Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest market share in the Next-generation Surgical Glue Market in 2021 as the U.S. and Canada are investing in the R&D of these devices. In addition, factors such as rapid development in the healthcare industry, the growing development of the clinical specialty, and the growing demand for effective surgical glue are anticipated to propel the growth of the Asia-Pacific Next-generation Surgical Glue Market. Besides, the presence of numerous medium-to-large players in North America and European countries is also attributable to rapid revenue growth. Thus, the demand for Next-generation Surgical Glue would have a positive influence during the forecast period.

Major Players of the Next-generation Surgical Glue Market

The Next-generation Surgical Glue Market report includes players such as Grünenthal Group, Braun Melsungen AG, Becton, Dickinson, and Company, Baxter International Inc., Advanced Medical Solutions Group plc, Cardinal Health Inc., CryoLife Inc., Johnson & Johnson, Medtronic plc,  and Integra LifeSciences Corporation.

COVID-19 Analysis

The COVID-19 pandemic is expected to have a positive impact on the global surgical glue market. As per the National Library of Medicine, there were nearly 1,307 cases of bariatric surgeries in 2020 in India. There were over 85 patients who were COVID positive and underwent bariatric surgeries. Therefore, a rise in the number of surgeries has led to an increase in the usage of surgical glue. Thus, new technological innovations by major players and a rise in the number of product approvals are anticipated to lead to the growth of the next-generation surgical glue market.

Recent Developments
  • In December 2021, Becton, Dickinson, and Company acquired Tissuemed, Ltd., an England-based, privately-held company, a leader in developing self-adhesive surgical sealant films. This acquisition helped the company to expand its product offerings for surgeons outside the U.S.
  • In November 2020, TISSIUM, a MedTech company, received approval from the FDA for its Investigational Device Exemption (IDE) application for its vascular sealant in pre-filled syringe format.
  • In February 2020, Baxter International Inc., a leading medical products company, acquired Seprafilm Adhesion Barrier and related assets from Sanofi for approximately $350 million. This acquisition will help the company to expand its product offerings for surgeon and hospital customers globally.
Next-generation Surgical Glue Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Next-generation Surgical Glue Market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future cardiovascular market potential from 2021 to 2031 in terms of revenue.
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Next-generation Surgical Glue industry.

Frequently Asked Questions

Q1. How big is the Next-generation Surgical Glue Market?

Ans. The Next-generation Surgical Glue Market size is anticipated to reach over USD 4.3 Million in 2031, growing at a rate of 7.65% from 2022 to 2031

Q2. What is the Next-generation Surgical Glue Market growth rate?

Ans. The growth rate of the Next-generation Surgical Glue Market is 7.65% from 2022 to 2031.

Q3. Which region holds a major market share for the Next-generation Surgical Glue Market?

Ans. North America holds a major market share of the Next-generation Surgical Glue Market in 2021.

Q4. Which segment accounted for the largest Next-generation Surgical Glue Market share?

Ans. By end-user, the hospital segment accounted for the largest Next-generation Surgical Glue Market share

Q5. Who are the key players in the Next-generation Surgical Glue Market?

Ans. The key players operating in the market include Grünenthal Group, Braun Melsungen AG, Becton, Dickinson, and Company, Baxter International Inc., Advanced Medical Solutions Group plc, Cardinal Health Inc., CryoLife Inc., Johnson & Johnson, Medtronic plc,  and Integra LifeSciences Corporation.

Q6. What are the factors driving the Next-generation Surgical Glue Market growth?

Ans. The major factors driving the growth of the market are the rise in prevalence of obesity & diabetes along with growth in investments for R&D activities in Next-generation Surgical Glue.

Q7. What are the key growth strategies of Next-generation Surgical Glue Market players?

Ans. The key growth strategies of Next-generation Surgical Glue Market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Next-generation Surgical Glue Market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Next-generation Surgical Glue Market during the forecast period

 

 

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Medical Imaging Market
September, 2022

The global medical power supply market was valued at USD 38.4 billion in 2021 and it is anticipated to grow up to USD 55.1 billion by 2031, at a CAGR of 3.7% during the forecast period.

Medical imaging forms an important component of healthcare industry for better diagnosis and treatment planning. Medical imaging techniques such as an ultrasound, X-ray, MRI, and CT scans help to visualize body organs internally allowing better care for the patients. Medical imaging, also known as radiology, is the field of medicine in which medical professionals recreate various images of parts of the body for diagnostic or treatment purposes. Medical imaging procedures include non-invasive tests that allow doctors to diagnose injuries and diseases without being intrusive.

Global Medical Imaging Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$38.4 bn
Market Size in 2031$55.1 bn
Growth Rate (2021-31)3.7%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, End-use, and Region
Key CompaniesSiemens Healthineers, Canon Medical System Corporation, Samsung Medison, Koninklijke Philips, Carestream Health, Fujifilm, Esaote, GE Healthcare, Hologic, and Konica Minolta
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments

Market Trends and Drivers

Rising healthcare expenditure in developed as well as developing countries surge the demand for medical imaging. All these factors together will drive the medical imaging industry over the forecast period. Furthermore, increasing R&D activities coupled with rising healthcare infrastructure and adaptation of innovative medical imaging modalities are expected to drive market growth over the forthcoming years. Growing incidence of chronic diseases especially in geriatric population increases the demand for medical imaging in hospitals and diagnostic centers. Several technological advancements and innovations increase the reliability of medical imaging thereby increasing its demand in healthcare.

Market Restraints and Challenges

Technological limitations associated with standalone systems may impede the market growth. Technological limitations associated with standalone imaging modalities deter researchers from purchasing them, negatively affecting their market growth. For instance, MRI takes longer to scan large volumes or high-resolution images, whereas PET has a lower spatial resolution. Ultrasound systems are heavily operator-dependent, require direct contact with the body, and have limited tissue depth penetration. SPECT has low detection sensitivity, and CT has poor soft-tissue contrast, providing less information about functional characteristics, and carries the risk of radiation exposure for both physicians and patients.

Global Medical Imaging Market Segmental Overview

The report analyses the global medical power supply market based on Product, End-use, and region.

Global Medical Imaging Market by Product

Based on product, it is segmented into X-ray devices, magnetic resonance imaging (MRI), ultrasound, computed tomography, nuclear imaging, and mammography. X-ray devices are further divided into digital and analog. The X-ray devices segment accounted for around 32.2% market share in 2021. This is attributed to the increasing utilization of X-rays in hospitals and diagnostic centers. X-rays are non-invasive, painless and take lesser time making them ideal for immediate diagnosis and treatment plan. Increasing occurrence of chest disorders surges the demand for chest x-rays. For instance, as per the WHO, 262 million people suffer from asthma worldwide, the disease being more common in children. Over 3 million people dies from COPD each year. Such high incidence of chest disorders increases the demand for x-rays thereby facilitating segmental demand of x-ray devices. Furthermore, advancements in digital radiography (DR) increase the demand for digital x-rays. For instance, Konica- Minolta and Shimadzu developed dynamic digital radiography (DDR) to form moving X-ray images. The technique can be used for conditions such as asthma, COPD and in orthopedic applications to facilitate imaging at a lower dose. All these factors together increase the demand for medical imaging techniques and help in boosting the progression of medical imaging industry.

Global Medical Imaging Market by End-use

Based on end-use, it is segmented into is segmented into hospitals, diagnostic centers and others. Among them, the hospital segment accounted for over USD 17.2 billion in market size in 2021. This is owing to higher demand for medical imaging modalities such as MRI, X-rays, ultrasound, and CT scans in hospital settings for accurate diagnosis during treatment procedures. In addition, availability of advanced medical imaging devices in hospitals and sound infrastructure lead to segmental growth of hospitals. Similarly, presence of skilled healthcare professionals in hospitals to accurately treat and diagnose patient’s surge the demand of medical imaging in hospitals. Additionally, rising cases of chronic diseases and increasing number of admissions in hospitals will further accelerate the medical imaging market progression.

Geographical Analysis of Global Medical Imaging Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America commanded the largest share of the market in 2021. High regional growth is attributed to the presence of top industry players in the U.S. such as Carestream Health Inc., GE Healthcare, and Hologic Inc. These key industry players take promotional and marketing efforts to increase the awareness of medical imaging amongst the people thereby facilitating the North American market statistics. Additionally, increasing healthcare expenditure and R&D investments across the region will help in regional market expansion. According to the data published on OECD, the United States spends higher on healthcare as compared to any other high-income country across the globe, including Japan, Sweden, UK, and Germany.

Major Players in the Global Medical Imaging Market

The key players in the medical power supply market are Siemens Healthineers, Canon Medical System Corporation, Samsung Medison, Koninklijke Philips, Carestream Health, Fujifilm, Esaote, GE Healthcare, Hologic, and Konica Minolta, among others.

COVID-19 Impact

The COVID-19 pandemic had a substantial impact on the medical imaging market. The medical imaging industry witness significant growth during the COVID-19 pandemic owing to the usefulness of medical imaging in the diagnosis and treatment guidance of severe COVID-19 infections. Medical imaging procedures are also used in the management of patients post COVID-19. Chest X-rays, ultrasound and CT are commonly used to gauge the severity of COVID-19 infections and detect spread of disease in the lungs. These factors help to surge the global market demand.

Recent Developments
  • In March 2022, Canon Medical Systems announced an agreement to acquire Nordisk Røntgen Teknik. Nordisk Røntgen Teknik is a leading manufacturer of diagnostic X-ray systems. This acquisition has helped the company establish its global presence in the X-ray business.
  • In March 2022, at 74th National Conference, IRIA 2022, Bengaluru, Siemens Healthineers presented its new product MAGNETOM Free.Star and NAEOTOM Alpha in MRI and CT pipeline. These product launches helped the company widen its customer base by providing advanced medical imaging technology.
  • In November 2021, Philips announced the launch of an AI-enabled MR imaging portfolio, which is intended to improve the efficiency and sustainability of radiology operations by speeding up MR exams. Such technological advancements are said to boost the market growth exponentially.
  • In August 2020, Philips expanded its cardiovascular ultrasound portfolio by launching Affiniti CVx. The system is designed to help cardiology departments and provide better care to more patients while improving efficiency and throughput.
Frequently Asked Questions

Q1. How big is the medical power supply market?

Ans. The global medical power supply market size was USD 38.4 billion in 2021 and is anticipated to reach USD 55.1 billion in 2031, growing at a rate of 3.7% from 2022 to 2031.

Q2. What is the medical power supply market growth rate?

Ans. The growth rate of the medical power supply market is 3.7%.

Q3. Which region holds a major market share for the medical power supply market?

Ans. North America holds a major market share of the medical power supply market in 2021.

Q4. Which segment accounted for the largest medical power supply market share?

Ans. By end user, the laboratories segment accounted for the largest medical power supply market share.

Q5. Who are the key players in the microplate systems market?

Ans. The global medical power supply market report includes players such as Siemens Healthineers, Canon Medical System Corporation, Samsung Medison, Koninklijke Philips, Carestream Health, Fujifilm, Esaote, GE Healthcare, Hologic, and Konica Minolta, among others.

Q6. What are the factors driving the medical power supply market growth?

Ans. The major factors driving the growth of the market are the increase in need for point-of-care imaging system and surge in demand for enhanced optical images for better diagnosis of diseases and disorders.

Q7. What are the key growth strategies of medical power supply market players?

Ans. The key growth strategies of medical power supply market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the medical power supply market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the medical power supply market during the forecast period.

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Medical Power Supply Market
September, 2022

The global medical power supply market was valued at USD 1.2 billion in 2021 and it is anticipated to grow up to USD 2.4 billion by 2031, at a CAGR of 7.0% during the forecast period.

Medical power supply is a small device that supplies power in form of electricity to medical devices. The primary function of a power supply is to convert one form of electrical energy to another. These medical power supply devices must be specially designed to meet the IEC60601 medical equipment safety standard. These standalone devices can be used in an extensive range of medical applications. At times, they are integrated into larger devices/equipment.

Global Medical Power Supply Market Scope and Report Structure
Report Attribute Details
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Base Year2021
Forecast Period2022-2031
Growth Rate (2021-31)7.0%
Historic Period2015-2020
Key CompaniesAdvanced Energy Industries (US), Delta Electronics (Taiwan), TDK-Lambda Corporation (Japan), SL Power Electronics (US), XP Power (Singapore), Spellman High Voltage Electronics Corporation (US), COSEL (Japan), FRIWO Gerätebau (Germany), Bel Fuse (US), MEAN WELL Enterprises (Taiwan)
Market Size in 2021$1.2 bn
Market Size in 2031$2.4 bn
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Segments Covered

Technology, Type, Application, and Region
Market Trends and Drivers

Increased market penetration of portable and integrated medical devices will propel the market growth during the forecast period. Portable/integrated instrument adoption and recent advancements in product design & architecture are supported by developments in adjacent industries, such as semiconductor chips and integrated circuits. Such devices have witnessed rapid installation due to their advantages—improved power factor correction, better thermal management, and reduced audible noise. The availability of funding and support to develop portable medical devices has also driven overall research activity in this sector. These factors have favored the adoption of medical power solutions since the growth of this market is directly tied to instrument use. For instance, in November 2019, Schwarzer Cardiotek GmbH (Germany) was awarded an R&D grant by the Zentrale Innovations programm Mittelstand (ZIM). Schwarzer Cardiotek intends to integrate its electrophysiology recording platform EP-TRACER with Livetec’s ablation system, LiveCath. Similarly, in 2018, Cambridge Medical Robotics (UK) raised USD 100 million to prepare its Versius system (a portable robot for laparoscopic applications) for planned commercialization.

Market Restraints and Challenges

Stringent regulatory compliance and safety standards may impede the market growth. Component manufacturers are expected to adhere to standards implemented by target countries. The majority of power supply components manufactured worldwide are mandated to comply with IEC60601-1 standards and IEC60601 “Medical Electrical Equipment, Part 1: General Requirements for Safety,” which includes specific guidelines for patient safety, provider protocols, and quality mandate for design of electronic medical devices. The RoHS (Restriction of Hazardous Substances) and Electronic Waste Directive (Europe) also impose restrictions on product commercialization for DC power supply manufacturers. Such requirements erect additional market entry/expansion barriers for medical power supply manufacturers to enter new markets.

Global Medical Power Supply Market Segmental Overview

The report analyses the global medical power supply market based on Technology, Type, application, and region.

Global Medical Power Supply Market by Technology

Based on technology, it is segmented into AC to DC power supply, and DC to DC power supply. Among these, Ac to Dc power supply segment accounted for significant market share in 2021. AC-DC power supply products include 200W and less, 201-500W, 501-1000W, 1,000-3,000W and 3000W and above. The 200W and less segment dominated the market in 2019. Rising incidences of home healthcare devices, new product launches, coupled with the rising adoption of portable medical devices models, is expected to fuels the growth of this segment during the forecast period. Moreover increasing new product launch will boost the segmental growth. For instance, in September 2021, New Yorker Electronics announced its release of the new Polytron Devices PFMUIC700 Series of AC-DC power supplies designed for medical applications. The Polytron PFMUIC700 series features ultra-compact size of 6.7 x 3.66 x 1.61 inch (170.2 x 93.0 x 41.0mm) in a fully enclosed plastic case.

Global Medical Power Supply Market by Type

Based on type, it is segmented into open frame power supply, enclosed power supply, adapter power supply, and converters. Among these, the enclosed power supply segment accounted for the largest share of the market in 2019. The large share of this segment is attributed to technological advancements which have resulted in compact enclosed power supplies that offer higher efficiency and low leakage current, which have driven their use.

Global Medical Power Supply Market Application

Based on application, it is segmented into diagnostic, imaging, and monitoring equipment, surgical equipment, home medical equipment and others. The diagnostic imaging systems segment accounted for a larger market share in 2021. The need for continuous functioning has driven the use of uninterrupted power supply solutions in diagnostic imaging equipment. The increasing installation base for diagnostic imaging devices, growing number of imaging procedures, are factors expected to drive the growth of this market segment in the coming years. Power supply products and technology play a critical role in medical imaging, diagnostics, monitoring equipment, and therapeutic businesses. From generating X-rays to powering detectors, these varied voltage power supply and X-ray generator solutions enable and improve the delivery of medical treatment.

The increase in the number of government initiatives for the diagnosis of infectious disease and the rising need for fast detection of diseases are contributing to the growing demand for diagnostic and monitoring equipment across the world. Governments are proactively investing in many research studies, including those for the diagnosis of infectious diseases. Technology holds a central role in expanding the market for diagnostic and monitoring devices. The increase in the aging population and the transformation of acute illnesses, such as heart failure into chronic diseases, indicate that the number of patients is also increasing. All the aforementioned factors are expected to contribute to the huge market share of the segment.

Geographical Analysis of Global Medical Power Supply Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America commanded the largest share of the market in 2021. Market growth is mainly attributed to the strong base of healthcare facilities, especially hospitals and diagnostic imaging centers, and the growing medical equipment production. As per the US Medical Technology Industry Associations (MTIA), US medical device companies are highly regarded globally for their innovative and technologically advanced products. R&D spending continues to represent a high percentage of medical device industry expenditures, averaging 7% of revenue in 2017. The United States holds a significant proportion of the diagnostic imaging market, which may be ascribed to rising technical advancements, higher population affordability, and an annual increase in the number of diagnostic operations.

The market is also predicted to increase in the forecast period, owing to the presence of well-established healthcare facilities, rising demand for improved healthcare systems among the aging population, and rising prevalence of chronic diseases. Owing to the developments in healthcare, multiple public institutions are expected to enhance their laboratory capabilities across the region, in turn boosting the demand for power supply equipment. For instance, the final commissioning is underway at the US Army Medical Research Institute of Infectious Diseases (USAMRIID), which is situated at Fort Detrick in Frederick, Maryland. The medical facility is expected to be open for occupancy by 2021. The 835,000-square-foot building is expected to serve as the lead facility for the US Biological Defense Research Program.

Major Players in the Global Medical Power Supply Market

The key players in the medical power supply market are Advanced Energy Industries (US), Delta Electronics (Taiwan), TDK-Lambda Corporation (Japan), SL Power Electronics (US), XP Power (Singapore), Spellman High Voltage Electronics Corporation (US), COSEL (Japaan), FRIWO Gerätebau (Germany), Bel Fuse (US), and MEAN WELL Enterprises (Taiwan), among others.

COVID-19 Impact

As a result of the pandemic, during March 2020 and throughout the second quarter of 2020, access to customers to sell and implement the medical power supply diminished as hospitals became primarily focused on the COVID-19 pandemic. The pandemic has led to a significant increase in the demand for patient monitoring devices. The closure of manufacturing facilities due to lockdowns and disrupted supply chains slightly impacted the growth of the market at the regional level in 2020. Established vendors such as Astrodyne TDI supported the increased demand and mitigated key shortages of medical-grade power supplies used in ventilators, LVADs, circulatory devices, surgical suites, and oxygen concentrators. The company provided technical support and sampling within 48 hours of the request.

Recent Developments
  • In August 2021 – CUI, a Bel group company, announced the addition of 12 new models to its VMS-C and VMS-C-CNF range of internal medical ac-dc power supplies. These new, higher power models are chassis-mount units, available in open-frame or metal-case variations that are ideal for use in medical and home healthcare applications, such as ultrasound machines and medical beds.
  • In June 2021 – Powerbox announced 300% peak power open-frame power supplies for medical and industrial applications. For medical applications, the AEA600F input to output isolation complies with 2MOPP, its input to the ground with 1MOPP, and output to the ground with 1MOPP making the product suitable for the Body Floating (BF) applications. The units are approved under ANSI/AAMI ES60601-1 and EN60601-1 3rd Edition.
  • In December 2020 – CUI Inc. announced the addition of two 120-watt ac-dc external power supply series, expanding its existing 60601 certified medical power supply family. The new series footprint is 35% smaller than its non-medical counterpart, providing a lighter and less cumbersome adapter that can power a wide range of medical and dental devices.
  • In April 2020 – XP Power released its new UCH600 series of convection cooled, 600W AC-DC power supplies. The ultra-compact power supplies do not require additional cooling and deliver full load power under a wide range of conditions. This series can be used in medical devices, as well as for industrial electronics applications.
  • In March 2020 – Delta Electronics launched MEA-065A, a new 65W output to MEA Series of Medical AC-DC desktop type adapter, which offers four single output voltages of 12V, 15V, 19V, and 24V in an extremely compact size, i.e., 50 x 115 x 29 mm, and finds its application in various types of portable equipment, such as home healthcare equipment, and test and measurement equipment. Key features include 0.1mA low earth leakage and electric shock protection complying with 2 x MOPP.
Frequently Asked Questions

Q1. How big is the medical power supply market?

Ans. The global medical power supply market size was USD 1.2 billion in 2021 and is anticipated to reach USD 2.4 billion in 2031, growing at a rate of 7.0% from 2022 to 2031.

Q2. What is the medical power supply market growth rate?

Ans. The growth rate of the medical power supply market is 7.0%.

Q3. Which region holds a major market share for the medical power supply market?

Ans. North America holds a major market share of the medical power supply market in 2021.

Q4. Which segment accounted for the largest medical power supply market share?

Ans. By end user, the laboratories segment accounted for the largest medical power supply market share.

Q5. Who are the key players in the microplate systems market?

Ans. The global medical power supply market report includes players such as Advanced Energy Industries (US), Delta Electronics (Taiwan), TDK-Lambda Corporation (Japan), SL Power Electronics (US), XP Power (Singapore), Spellman High Voltage Electronics Corporation (US), COSEL (Japaan), FRIWO Gerätebau (Germany), Bel Fuse (US), and MEAN WELL Enterprises (Taiwan), among others.

Q6. What are the factors driving the medical power supply market growth?

Ans. The major factors driving the growth of the market are the governments are taking initiatives to set up new and advanced healthcare facilities in developing countries to cater to the requirements of the growing population.

Q7. What are the key growth strategies of medical power supply market players?

Ans. The key growth strategies of medical power supply market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the medical power supply market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the medical power supply market during the forecast period.

 

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Medical Equipment Maintenance Market
September, 2022

The global medical equipment maintenance market was valued at USD 45.4 billion in 2021 and it is anticipated to grow further to USD 121.9 billion in 2031, at a CAGR of 10.4% during the forecast period.

To accurately assess patients’ health, medical equipment is used in diagnostic procedures as well as operations and therapies. As a result, maintaining and enhancing the accuracy and precision of medical devices depends greatly on their maintenance. Maintenance of medical equipment makes sure the tools are accurate and error-free. It entails determining the expected lifespan of machinery that ranges from simple devices like sphygmomanometers to complex ones like Magnetic Resonance Imaging (MRI) machines. Additionally, it is involved with frequency-scheduling tasks, fixing broken equipment, optimizing, and deciding on maintenance schedules based on user data. With the rise in demand for refurbished medical equipment and the incidence of life-threatening disorders, there has been a growing necessity for maintaining medical equipment in recent years.

Global Medical Equipment Maintenance Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$ 45.4 Bn
Market Size in 2031$ 121.9 Bn
Growth Rate (2021-31)10.4%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredEquipment, Service, and Region
Key CompaniesGE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), FUJIFILM Holdings Corporation (Japan), Canon, Inc. (Toshiba Medical System Corporation, Japan), Agfa-Gevaert Group (Belgium), Carestream Health, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), KARL STORZ GmbH & Co. KG (Germany), and Aramark Services, Inc. (US) among others.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

In recent years, as healthcare organizations have worked to improve patient safety and care quality, there has been a greater emphasis on preventive maintenance of medical equipment. This entails a properly planned program where scheduled maintenance chores are carried out to prevent greater and more expensive problems in the future. Additionally, it aids in lowering equipment downtime, improving device reliability and enhancing daily operations.

Preventive maintenance strategies are becoming more popular as planned inspections and maintenance of medical devices help prevent unfavorable incidents and accidents involving medical devices. The safe, effective, and long-lasting use of medical devices is guaranteed by routine maintenance services. In the upcoming years, development possibilities for service providers are anticipated as a result of the increasing emphasis that healthcare organizations are placing on the implementation of preventative maintenance practices.

Market Restraints and Challenges

Healthcare professionals can track and monitor the state of medical devices through maintenance programmes, ensuring effective use and optimal uptime. Given the present emphasis on preventive maintenance and cost pressures, this is especially crucial in order to control total expenditure in the context of austerity measures. These initiatives involve the use of cutting-edge technology-based asset management solutions. However, the deployment of these solutions comes with high initial installation costs and hefty maintenance costs, whilst the installation of advanced medical equipment comes with a service contract cost that must be paid on a yearly basis (around 12% of the cost of the medical equipment). Consequently, during the equipment’s lifetime, the servicing costs incurred are typically higher than the equipment’s purchase price. End customers are being discouraged from utilising advanced medical technology because of the high expense of installation and upkeep.

Global Medical Equipment Maintenance Market Segmental Overview

The report analyses the global medical equipment maintenance market based on equipment, service, and region.

Global Medical Equipment Maintenance Market by Equipment

Based on the equipment, it is segmented into imaging equipment, electromedical equipment, endoscopic devices, surgical instruments, and other. The imaging equipment segment is anticipated to dominate the market during the forecast period. This can be ascribed to the emergence of non-invasive and robotic methods enhancing global surgical operations. In the United States, around 1.8 million cosmetic surgery procedures were carried out in 2019, according to the Plastic Surgery Statistics Report.

Global Medical Equipment Maintenance Market by Service

Based on the service, it is segmented into preventive maintenance, corrective maintenance and operational maintenance. The corrective maintenance segment is anticipated to dominate the market during the forecast period. Correcting a device breakdown or component failure that has happened or has intermittently happened in the device is an unplanned activity. Following an unanticipated failure, corrective maintenance activities include the replacement or restoration of any systems or components needed to restore the physical integrity, aesthetic appeal, and/or functional capabilities of a medical device.

Geographical Analysis of the Global Medical Equipment Maintenance Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. The strong base of healthcare facilities, particularly hospitals and diagnostic imaging centers, and the expanding installation base for cutting-edge medical technology in healthcare facilities are mostly to blame for the market’s rise. In 2020, the US held the greatest market share. The strong independent service provider base, in-house maintenance, and expanding medical device installation base in healthcare institutions are primarily responsible for the market growth.

Major Players in the Global Medical Equipment Maintenance Market

The key players studied in the report are GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), FUJIFILM Holdings Corporation (Japan), Canon, Inc. (Toshiba Medical System Corporation, Japan), Agfa-Gevaert Group (Belgium), Carestream Health, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), KARL STORZ GmbH & Co. KG (Germany), and Aramark Services, Inc. (US) among others.

COVID-19 Impact

Because of the pandemic, hospitals were largely focused on the critical care devices used in the COVID-19 pandemic between March 2020 and the end of the second quarter of 2020, which made it harder to reach clients to provide medical equipment maintenance. The need for critical care equipment like ventilators has significantly increased as a result of the epidemic. Companies that do not service critical care devices will find it difficult to obtain supplies, such as accessories for the maintenance of non-critical medical equipment, due to restrictions on the transportation of components. This is projected to increase the supply-demand gap for the maintenance services of non-critical devices.

Recent Developments
  • July 2022, B. Braun launched Technical Service Center to provide quality-driven medical equipment repair and maintenance services to support the Thailand public health system.
  • May 2022, Medical Manufacturing Technologies, expanded its catheter manufacturing solutions offering with the acquisition of Medical Production Technology Europe (MPT). They provides equipment and process development services centered on balloon forming, folding and pleating, thermal bonding, and stent crimping solutions.
  • March 2021, FUJIFILM Corporation acquired the Diagnostic Imaging-related Business of Hitachi, Ltd. To support R&D, manufacturing, marketing and maintenance services for diagnostic imaging systems, electronic medical records, and other medical related products & services.
  • February 2021, Siemens Healthineers entered into an eight-year technological partnership with Kantonsspital Baden for procurement & maintenance of medical imaging systems, technology management, and the expansion of telemedicine solutions.
  • December 2019, GE Healthcare signed a six-year service contract for imaging technologies across Affidea’s network in the Netherlands.
Frequently Asked Questions

Q1. How big is the Medical Equipment Maintenance market?

Ans. The global Medical Equipment Maintenance market size was USD 45.4 billion in 2021 and is anticipated to reach USD 121.9 billion in 2031, growing at a rate of 10.4% from 2022 to 2031.

Q2. What is the Medical Equipment Maintenance market growth rate?

Ans. The growth rate of the Medical Equipment Maintenance market is 10.4%.

Q3. Which region holds a major market share for the Medical Equipment Maintenance market?

Ans. North America holds a major market share of the Medical Equipment Maintenance market in 2021.

Q4. Which segment accounted for the largest Medical Equipment Maintenance market share?

Ans. By service, preventive maintenance segment accounted for the largest Medical Equipment Maintenance market share.

Q5. Who are the key players in the Medical Equipment Maintenance market?

Ans. The global Medical Equipment Maintenance market report includes players such as GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), FUJIFILM Holdings Corporation (Japan), Canon, Inc. (Toshiba Medical System Corporation, Japan), Agfa-Gevaert Group (Belgium), Carestream Health, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), KARL STORZ GmbH & Co. KG (Germany), and Aramark Services, Inc. (US) among others.

Q6. What are the factors driving the Medical Equipment Maintenance market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Medical Equipment Maintenance market players?

Ans. The key growth strategies of Medical Equipment Maintenance market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Medical Equipment Maintenance market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Medical Equipment Maintenance market during the forecast period.

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Medical Tapes and Bandages Market
September, 2022

The global medical tapes and bandages market was valued at USD 7.4billion in 2021 and it is anticipated to grow up to USD 11.4 billion by 2031, at a CAGR of 4.5% during the forecast period.

Medical tapes are the pressure sensitive adhesive tapes used for supporting bandage or other wound dressings. Medical bandages are a cotton gauge cloth beneficial for supporting medical devices such as surgical dressing or splint. Medical tapes and bandages are used to maintain moisture at site of dressing, promote wound healing and provide mechanical & bacterial protection to the wound.

Global Medical Tapes and Bandages Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$7.4 bn
Market Size in 2031$11.4 bn
Growth Rate (2021-31)4.5%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Application, End-user, and Region.
Key Companies3M Company (US), Johnson & Johnson (US), Cardinal Health Inc. (US), Medline Industries Inc.(US), Essity (Sweden), McKesson Corporation (US), Integra Lifesciences Holdings Corporation (US), Smith & Nephew Plc., (US), B. Braun Melsungen AG (Germany), and PAUL HARTMANN AG (Germany)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Growing prevalence of diseases and conditions affecting wound healing capabilities this will increased the demand for medical tapes and bandages thereby, augment the market growth. Chronic wounds mainly include wound such as diabetic foot ulcers, pressure ulcers, venous leg ulcers, and other chronic wounds. A diabetic foot ulcer is a major complication of diabetes. As diabetes slows down the healing process, all types of ulcers, other chronic and acute wounds, even minor cuts, take time to heal, prolonging treatment type, which in turn increases consumption of medical tapes and bandages used for dressings and re-dressings. In addition, due to prolonged healing time, in some cases, even minor cuts turn into chronic wounds, further increasing the demand for dressings. For instance, according to the International Diabetes Federation (IDF), the global diabetic cases will increase from 415.0 million in 2015 to 642.0 million by 2040. Similarly, as per the CDC estimates that one in three American adults will have diabetes by 2050.

Market Restraints and Challenges

Rising awareness about advanced wound care products may restrain the market growth. Advanced wound care accelerates the healing process for many chronic wounds by providing and promoting a moist environment. As basic/traditional wound care products take a large amount of time for healing of wounds and are less effective in certain types of wounds, advanced wound care products are being used as first-line therapy wherever infection control and healing speed are major concerns. Considering their effectiveness, coupled with the limitations of basic/traditional wound dressings, advanced and active wound care products are expected to cannibalize the market for medical bandages and tapes in the coming years.

Global Medical Tapes and Bandages Market Segmental Overview

The report analyses the global medical tapes and bandages market based on product, application, end-user, and region.

Global Medical Tapes and Bandages Market by Product

Based on product, it is segmented into bandages, and medical tapes. Among these, the medical bandages segment captured the largest market share in 2021. Bandages are majorly used for wound dressings, supporting fractures & splints, and sports injuries. In cases of post-operation, the bandages are used to keep the overall body structure compressed by restricting the movement of the body parts. Bandages are generally made up of a wide variety of materials, such as plastic, cloth, synthetic, or elastic. The bandages have an adhesive attached or an elastic structure to act as their support system. The bandage segment is fragmented into the triangular bandage, elastic bandage, muslin bandage rolls, elastic plaster bandage, orthopedic bandage, and others

Global Medical Tapes and Bandages Market by Application

Based on application, it is segmented into surgical wound treatment, traumatic wound treatment, ulcer treatment, sports injury treatment, burn injury treatment, and others. Among them, surgical wound segment is expected to experience the fastest growth rate during the forecast period. The rising number of surgical site infections (SSI) is one of the major driving factors for the segment growth. Surgical wounds majorly occur due to SSI. As per the Journal of Patient Safety & Infection Control of 2019, estimates for SSIs in India are significantly high ranging from 23.0% to 38.0% in comparison with the global estimates, ranging from 0.5% to 15%. Furthermore, the rising incidence of trauma across the globe also contributes to the segment growth. For instance, as per the World Health Organization (WHO) in 2019, around 9.0% of global mortality occurs due to trauma every year. Hence, considerable segment growth is anticipated during the forecast period.

Global Medical Tapes and Bandages Market End-user

Based on end–user, it is segmented into hospitals, ambulatory surgery centers, clinics, home care settings, and others. Hospital segment is anticipated to witness the fastest CAGR over the forecast period. The hospital segment dominated the market with a share of 27.87% in 2021. Surgical wound care and bone fracture dressings are primarily intended for use in hospitals and are not suitable for home usage. The segment is being driven by an increase in the number of surgical wounds as a result of the increasing number of surgeries. The treatment of a surgical site infection necessitates a lengthy hospital stay and close monitoring. Furthermore, the rising prevalence of diabetic foot ulcers and venous leg ulcers is expected to fuel the market, since medical tapes and bandages are commonly employed in such situations. As a result, such variables may boost segment growth during the predicted period.

Geographical Analysis of Global Medical Tapes and Bandages Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the medical tapes and bandages market with the highest share in 2021. Increasing sports injuries, road accidents, and the presence of several key players in the region are anticipated to drive the market growth. In addition, an increase in the number of surgical procedures/hospital visits, a well-established healthcare infrastructure, and favorable reimbursement & regulatory rules in the healthcare industry are expected to present significant regional growth opportunities in the market. For instance, according to the Centers for Medicare & Medicaid Services (CMS), health spending in the U.S. is expected to grow at 5.5% every year from 2018 to 2027 and is estimated to reach USD 6 trillion by 2027. In addition, high disposable income in developed economies & skilled professionals is some factors responsible for the large share of the market of the region.

Major Players in the Global Medical Tapes and Bandages Market

The key players in the market are 3M Company (US), Johnson & Johnson (US), Cardinal Health Inc. (US), Medline Industries Inc.(US), Essity (Sweden), McKesson Corporation (US), Integra Lifesciences Holdings Corporation (US), Smith & Nephew Plc., (US), B. Braun Melsungen AG (Germany), and PAUL HARTMANN AG (Germany), among others.

COVID-19 Impact

Thus, the COVID-19 pandemic has shown a positive impact on the market growth owing to its increased demand for critical care capacity and to support hospitals in the fight against COVID-19. Furthermore, according to the National Library of Medicine in September 2020, a barrier enclosure has been proposed for use during intubations where there is a substantial risk of aerosolization. The use of noninvasive respiratory assistance is on the rise amid the COVID-19 outbreak. However, it is linked to a significant risk of aerosol formation, which can lead to illnesses among healthcare workers (HCWs). As a result, vacuum suction tubing was hooked to the wall mount, and the other end of the tubing was taped to the inside of the barrier enclosure’s roof with adhesive surgical tape. Thus, these adhesive surgical tapes offer protection against COVID-19-related illnesses in healthcare settings, which is expected to drive market growth. Due to the COVID-19 pandemic in 2020, sales of medical tapes and bandages increased significantly across the globe.

Recent Developments
  • In April 2022, 3M Nexcare Duo bandages recognized as a Product of the year award winner.
  • In April 2021, Essity acquired Bayport Brands which gave Essity distribution rights of the wound care technology Sorbact in Australia and New Zeland from Bayport Brands this will further accelerate the growth in the wound care market.
  • In April 2020, Medline Industries partnered with Yale New Haven for the exclusive supply of medical supplies along with supply chain and logistics solutions.
  • In October 2019, 3M Company acquired Acelity Inc. will further accelerate 3M as a leader in advanced wound care, which is a significant and growing market segment.
  • In April 2019, Smith & Nephew PLC purchased Osiris Therapeutics, Inc. with the goal of speeding up the development of its medical bandages and tapes product line, thus boosting its client base and market reach. Additionally, key players are invest
Frequently Asked Questions

Q1. How big is the medical tapes and bandages market market?

Ans. The global medical tapes and bandages market size was USD 7.4 billion in 2021 and is anticipated to reach USD 11.4 billion in 2031, growing at a rate of 4.5% from 2022 to 2031.

Q2. What is the medical tapes and bandages market growth rate?

Ans. The growth rate of the medical tapes and bandages market is 4.5%.

Q3. Which region holds a major market share for the medical tapes and bandages market?

Ans. North America holds a major market share of the medical tapes and bandages market in 2021.

Q4. Which segment accounted for the largest medical tapes and bandages market share?

Ans. By end user, the hospital segment accounted for the largest medical tapes and bandages market share.

Q5. Who are the key players in the medical tapes and bandages market market?

Ans. The global medical tapes and bandages market report includes players such as 3M Company (US), Johnson & Johnson (US), Cardinal Health Inc. (US), Medline Industries Inc.(US), Essity (Sweden), McKesson Corporation (US), Integra Lifesciences Holdings Corporation (US), Smith & Nephew Plc., (US), B. Braun Melsungen AG (Germany), and PAUL HARTMANN AG (Germany), among others.

Q6. What are the factors driving the medical tapes and bandages market growth?

Ans. The major factors driving the growth of the market are the rising chronic diseases such as diabetes along with injuries in geriatric population.

Q7. What are the key growth strategies of medical tapes and bandages market players?

Ans. The key growth strategies of medical tapes and bandages market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the medical tapes and bandages market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the medical tapes and bandages market during the forecast period.

 

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Medical Radiation Detection, Monitoring & Safety Market
September, 2022

The global medical radiation detection, monitoring & safety market was valued at USD 1.2 billion in 2021 and it is anticipated to grow up to USD 2.0 billion by 2031, at a CAGR of 5.5% during the forecast period.

Medical radiation detectors are a type of medical equipment that detects the presence of radiation. When a person is exposed to radiation for a considerable length of time, an individual is more prone to develop a number of deadly diseases. This raises the requirement for technology capable of detecting the amount of radiation accumulating in the body. Some of the key detectors for detecting radioactive materials and ionizing radiation include the handheld survey meter (HSM), personal radiation detector (PRD), radiation portal monitor (RPM), and radiation isotope identification device (RIID). As technology advances, various radiation-detecting devices may become available for use at home. Dosimeters are medical radiation detectors that can detect Gamma rays, the most dangerous external radioactive threat.

Global Medical Radiation Detection, Monitoring & Safety Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$1.2 bn
Market Size in 2031$2.0 bn
Growth Rate (2021-31)5.5%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Application, End-user, and Region.
Key CompaniesFortive (US), Mirion Technologies, Inc. (US), Thermo Fisher Scientific Inc. (US), Ludlum Measurements, Inc. (US), IBA Worldwide (Belgium), AliMed, Inc. (US), Polimaster Ltd. (Republic of Belarus), AmRay Group (Ireland), Infab, LLC (US), Burlington Medical (US), and Bertin Instruments (France)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Increasing use of nuclear medicine and radiation therapy for diagnosis and treatment will boost the industry progression. During the past decade, nuclear medicine practices have undergone a tremendous transformation owing to advances in radiopharmacy, instrumentation, and IT. The increasing usage of nuclear medicine in diagnosing and treating various diseases such as cancer and cardiovascular disorders has boosted the demand for radiation detection, monitoring, and safety devices. According to NHS England, 42.7 million imaging tests were registered in England in March 2018, compared to 42.1 million in 2017, an increase of 1.4%. such aforementioned factors will positively influence the market growth.

Market Restraints and Challenges

Stringent regulatory requirements may hinders the market growth to some extent. Each country has a standard set of regulations for medical radiation, which are defined by regulatory bodies/departments. For example, the US Department of Labor has defined standards through the Nuclear Regulatory Commission (NRC), International Commission on Radiological Protection (ICRP), National Council on Radiation Protection (NCRP), Food and Drug Administration (FDA), and the US Department of Energy (DOE) for protection against radiation. These departments have implemented several guidelines for the approval of medical radiation detection, monitoring, & safety products. However, these stringent regulations extend the timelines involved in the product approval process.

 

Global Medical Radiation Detection, Monitoring & Safety Market Segmental Overview

The report analyses the global medical radiation detection, monitoring & safety market based on product, detection type, end-user, and region.

Global Medical Radiation Detection, Monitoring & Safety Market by Product

Based on product, it is segmented into personal dosimeters, area process dosimeters, surface contamination monitors, and others. Among these, the personal dosimeters segment captured the largest market share in 2021. This growth is attributed to the wide-ranging applications of the dosimeters in nuclear power plants, radiation dose measurements in medical and industrial processes. In addition, the availability of advanced instruments, such as, automated reader instrument, electronic radiation measuring instrument, alarm badges, thermo luminescent dosimeters (TLD), and handheld and portable devices are propelling the growth of this sector over the forecast period. Moreover, increasing threat of nuclear attacks and technological advancements, such as, optically stimulated luminescence (OSL), that provide higher accuracy for measurement of low levels of radioactivity. The overall increase in the product uptake witnessed as a result of the expansion of the current product portfolio in the companies is expected to push forward the growth of the product segment.

Global Medical Radiation Detection, Monitoring & Safety Market by Detection Type

Based on detection type, it is segmented into gas-filled detectors, scintilators and solid-state. Among them, gas-filled detectors segment is expected to experience the fastest growth rate during the forecast period. Gas-filled detectors held the largest market share in 2015, owing to rising applications in Geiger-Muller counters, ionization chambers, radiation survey meters, and proportional counters. In addition, to the user-friendly nature of these detectors such as portable, durable as well as economical are the factors further augmenting the demand. Moreover, the Geiger-Muller counters held the largest share in gas-filled detectors as a result of the high usage rate in nuclear power plant and manufacturing industries. Furthermore, the variety of alpha, beta, and gamma in Geiger tubes and probes are expected to boost market growth over the forecast period.

Global Medical Radiation Detection, Monitoring & Safety Market End-user

Based on end–user, it is segmented into hospitals, ambulatory surgery centers, clinics, and others. Hospital segment is anticipated to witness the fastest CAGR over the forecast period. The hospital segment dominated the market with a share in 2021. Hospitals held the largest share in 2015, mainly due to the increasing adoption rate of the dosimeters and detectors in radiology, emergency care, dentistry, nuclear medicine, and therapy purposes. Moreover, enhanced meters are utilized to ensure that patients, as well as the medical personnel, are exposed to radioactive emission at optimal levels, within the permissible limits prescribed by the respective authorities. These are particularly required in medical procedures, such as angiography, fluoroscopy, computed tomography (CT), and radiographic imaging that employ the more harmful ionizing radioactive rays to perform clinical diagnosis and monitoring. The rise in these interventional applications is expected to stimulate the growth of this sector over the forecast period.

Geographical Analysis of Global Medical Radiation Detection, Monitoring & Safety Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the medical radiation detection, monitoring & safety market with the highest share in 2021. This can be attributed to the presence of a favorable regulatory framework, and technological advancement over this region. For example, Naturally Occurring Radioactive Material (NORM) and Natural Radiation Management in North America ensure the regulatory framework for safety and the presence of several key players in the region. In addition, an increase in the number of surgical procedures/hospital visits, a well-established healthcare infrastructure, and favorable reimbursement & regulatory rules in the healthcare industry are expected to present significant regional growth opportunities in the market. For instance, according to the Centers for Medicare & Medicaid Services (CMS), health spending in the U.S. is expected to grow at 5.5% every year from 2018 to 2027 and is estimated to reach USD 6 trillion by 2027. In addition, high disposable income in developed economies & skilled professionals is some factors responsible for the large share of the market of the region.

Major Players in the Global Medical Radiation Detection, Monitoring & Safety Market

The key players in the market are Fortive (US), Mirion Technologies, Inc. (US), Thermo Fisher Scientific Inc. (US), Ludlum Measurements, Inc. (US), IBA Worldwide (Belgium), AliMed, Inc. (US), Polimaster Ltd. (Republic of Belarus), AmRay Group (Ireland), Infab, LLC (US), Burlington Medical (US), and Bertin Instruments (France), among others.

COVID-19 Impact

The COVID-19 pandemic has had a devastating global impact on the health of the population and a huge economic impact on most countries worldwide. The pandemic has put significant strain on healthcare systems. Healthcare institutes and providers were instructed to stop performing elective surgical procedures and medical examinations to slow the spread of the disease and conserve healthcare resources for COVID-19 patients. As a result, many radiology departments experienced a rapid decline in imaging case volume. A study conducted by Harvey L. Neiman Health Policy Institute between January 2019 and April 2020, published in the Journal of the American College of Radiology (JACR), suggests that imaging case volume had decreased drastically due to COVID-19 week after week. The decrease in imaging case volume has varied by location, with the greatest declines observed in the outpatient setting (maximum year-over-year decline of 88%), followed by the emergency department (46%) and inpatient setting (4%).

It can be noted that practices that depend on outpatient imaging will be most severely affected. Imaging volume deterioration also varied by modality type, with the greatest declines observed in mammography (94%), nuclear medicine (85%), MRI (74%), ultrasound (64%), interventional radiology (56%), CT (46%), and X-ray (22%). However, according to a recent radiology article published in RSNA, radiology practices anticipate a 50–70% decrease in imaging volume that will last a minimum of three to four months, depending on the location of practice and the severity of the COVID-19 pandemic in each region.

Recent Developments
  • In April 2022, Honeywell launches full operations at gas detector assembly facility in Saudi Arabia.
  • In March 2022, Thermo Fisher Scientific launched GC and GC-MS instruments.
  • In March 2021, Infab, LLC (US) launched The 903 Reverse Vest & Skirt provides strong protection against scatter radiation with a secure and comfortable fit.
  • In October 2021, Mirion Technologies, Inc. (US) acquired Sun Nuclear Corporation, which is present in over 100 countries. This acquisition was meant to strengthen Mirion’s position in the market.
  • In January 2021, Infab, LLC (US) acquired MediDrapes, a provider of disposable protective drapes used in medical imaging equipment such as mini C-arms, fluoroscopes, and ultrasound machines, added to the companys portfolio.
  • In February 2019, Thermo Fisher Scientific launched new dosimetry monitoring service.
Frequently Asked Questions

Q1. How big is the medical radiation detection, monitoring & safety market market?

Ans. The global medical radiation detection, monitoring & safety market size was USD 1.2 billion in 2021 and is anticipated to reach USD 2.0 billion in 2031, growing at a rate of 5.5% from 2022 to 2031.

Q2. What is the medical radiation detection, monitoring & safety market growth rate?

Ans. The growth rate of the medical radiation detection, monitoring & safety market is 5.5%.

Q3. Which region holds a major market share for the medical tapes and bandages market?

Ans. North America holds a major market share of the medical radiation detection, monitoring & safety market in 2021.

Q4. Which segment accounted for the largest medical radiation detection, monitoring & safety market share?

Ans. By end user, the hospital segment accounted for the largest medical radiation detection, monitoring & safety market share.

Q5. Who are the key players in the medical radiation detection, monitoring & safety market?

Ans. The global medical radiation detection, monitoring & safety market report includes players such asFortive (US), Mirion Technologies, Inc. (US), Thermo Fisher Scientific Inc. (US), Ludlum Measurements, Inc. (US), IBA Worldwide (Belgium), AliMed, Inc. (US), Polimaster Ltd. (Republic of Belarus), AmRay Group (Ireland), Infab, LLC (US), Burlington Medical (US), and Bertin Instruments (France), among others.

Q6. What are the factors driving the medical radiation detection, monitoring & safety market growth?

Ans. The major factors driving the growth of the market are the rising chronic diseases such as cancer.

Q7. What are the key growth strategies of medical radiation detection, monitoring & safety market players?

Ans. The key growth strategies of medical radiation detection, monitoring & safety market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the medical radiation detection, monitoring & safety market during the forecast period?

Ans. The North America region will provide more business opportunities for the medical radiation detection, monitoring & safety market during the forecast period.

 

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Medical Electrodes Market
September, 2022

The global medical electrodes market was valued at USD 1.9 billion in 2021 and it is anticipated to grow further to USD 2.6 billion by 2031, at a CAGR of 3.2% during the forecast period.

A medical electrode is a tiny metal plate or needle that transfers electricity from a device to a patient for therapy or surgery. Additionally, electrodes transfer electrical impulses from the heart, brain, skin, muscles, and other regions of the body to recording equipment to aid in the diagnosis of specific disorders. Electrodes come in a variety of forms, including those used for electrocardiography (ECG), foetal scalp electrograms, electroencephalograms, transcutaneous electrical nerve stimulation (TENS), and pacemaker electrodes. The detection of any specific irregularities in the brain is aided by electroencephalography. By placing about 10 electrodes in various locations for the monitoring of electrical and ionic waves or neuronal activity, these brain wave patterns are detected and recorded.

Global Medical Electrodes Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$ 1.9 Bn
Market Size in 2031$ 2.6 Bn
Growth Rate (2021-31)3.2%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Usability, Modality, Application, and Region
Key CompaniesCardinal Health (US), 3M (US), ZOLL Medical Corporation (US), Medtronic (Ireland), Ambu A/S (Denmark), Natus Medical, Inc. (US), Koninklijke Philips N.V. (Netherlands), B. Braun Melsungen AG (Germany), CONMED Corporation (US), GE Healthcare (US), Cognionics, Inc. (US), Nihon Kohden Corporation (Japan), Rhythmlink International, LLC (US), Compumedics Limited (Australia), and Nissha Medical Technologies (Japan) among others.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Over time, there has been a dramatic rise in the prevalence of sleep disorders, cardiovascular and neurological ailments. The volume of diagnostic and therapeutic operations has consequently increased. Because of this, market expansion is probably being driven by the rising demand for these operations. For instance, cardiovascular disease (CVD) is a major cause of death and disability worldwide, according to the World Health Organization (WHO). Globally, 17.9 million CVD-related deaths were reported in 2016; by 2030, this number is expected to rise to 23.6 million.

Market Restraints and Challenges

Government restrictions that come with the approval of these devices limit commercial expansion. Additionally, the rise of this market during the projection period is hampered by some underdeveloped or developing countries’ lack of knowledge about the benefits and associated technological advancements of such devices.

Global Medical Electrodes Market Segmental Overview

The report analyses the global medical electrodes market based on the product, usability, modality, application, and region.

Global Medical Electrodes Market by Product

Based on the product, it is segmented into surface electrodes, needle electrodes. The surface electrodes segment is anticipated to dominate the market during the forecast period. The key factors such as rising incidences of neurological & cardiovascular disorders coupled with increasing investment in research for medical devices is boosting the growth of the market.

Global Medical Electrodes Market by Usability

Based on the usability, it is segmented into disposable medical electrodes and reusable medical electrodes. The disposable electrodes segment is anticipated to dominate the market during the forecast period. Due to their low risk of cross-contamination and affordability, disposable electrodes are being used more frequently, which is responsible for their significant market share.

Global Medical Electrodes Market by Modality

Based on the modality, it is segmented into electromyography, electrocardiography, electroencephalography, brainstem auditory evoked potentials and others. The global increase in cardiac illnesses will lead to an increase in the revenue generated by the electrocardiography (ECG) modality medical electrodes market. In order to record the electrical signals of the heart and look for various heart problems, these electrodes are typically positioned on the patient’s chest. The expanding market will benefit from the increased focus on early diagnosis.

Global Medical Electrodes Market by Application

Based on the application, it is segmented into neurophysiology, cardiology, sleep disorders, intraoperative monitoring, and others. The cardiology application segment is anticipated to dominate the market during the forecast period. Cardiovascular diseases (CVDs) can be regarded as a main cause of death globally and contributed to more than 17.9 million fatalities in 2019, according to the WHO (World Health Organization). Out of these fatalities, heart attacks and strokes were the leading causes of death for about 85% of people. The increased need for early detection and better treatment of these diseases will give the use of medical electrodes a significant boost.

Geographical Analysis of the Global Medical Electrodes Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America region is anticipated to dominate the market during the forecast period. The region’s healthcare spending is on the rise as a result of the quickly growing elderly population and the growing burden of chronic diseases. Higher rates of technological advancements in medical electrodes are a result of the expanding utility of medical devices and effective governmental initiatives. Other factors promoting regional industrial growth include an expanded base of international corporations, rising healthcare awareness, and the availability of greater infrastructure.

Major Players in the Global Medical Electrodes Market

The key players studied in the report are Cardinal Health (US), 3M (US), ZOLL Medical Corporation (US), Medtronic (Ireland), Ambu A/S (Denmark), Natus Medical, Inc. (US), Koninklijke Philips N.V. (Netherlands), B. Braun Melsungen AG (Germany), CONMED Corporation (US), GE Healthcare (US), Cognionics, Inc. (US), Nihon Kohden Corporation (Japan), Rhythmlink International, LLC (US), Compumedics Limited (Australia), and Nissha Medical Technologies (Japan) among others.

COVID-19 Impact

Every part of the medical device sector, including the market for medical electrodes, has been impacted by the COVID-19 epidemic globally due to the considerable interruptions to enterprises and economic activity that have occurred on a global scale. Despite the availability of emergency and OPD services in cardiology, neurology, and other departments, the number of patient visits to hospitals, ambulatory surgery centres, and diagnostic labs has considerably decreased. Patient visits have dramatically decreased as a result of widespread lockdowns and social isolation policies. The sales of medical electrode devices have fallen even further as a result. Many of the industry’s top companies, including Ambu (Denmark), Cardinal Health (US), and CONMED Corporation (US), reported a fall in sales for the second and third quarters of 2020 for their medical devices division.

The market has been impacted by a decline in research activity as a result of laboratory closures and decreased clinical testing, as well as a general decline in the use of medical electrodes due to the declining volume of diagnostic, elective, and non-essential procedures, the lower utilisation of routine testing, and decreased capital spending by customers. Although many nations have started to rebuild their economies, it will take some time before medical electrode usage rates return to pre-pandemic levels. Additionally, any increase in COVID-19 infections could lead to additional lockdowns, quarantine measures, or other limitations to stop the virus’s transmission, which could have a detrimental effect on the market’s expansion.

Recent Developments
  • September 2021, Bittium Corporation launched Omega Snap and added one more product to its Omega Snap product family. In combination with the Bittium Faros ECG device, the new Bittium Omega Snap patch electrodes support one (1-CH), two (2-CH) and three channel (3-CH) ECG measurements.
  • June 2021, Merck, a subsidiary of B. Braun in its new bioelectronics innovative field. With the help of this collaboration companies can develop a neurostimulator device which can be accompanied with the existing drug therapies of patients with chronic inflammatory diseases.
  • May 2021, DC-based startup iCE Neuro Systems received approval from the United States Food and Drug Administration (USFDA) for a subcutaneous electrode called iCE-SG, designed to monitor the brain’s electrical activity from beneath the skin of the scalp.
  • December 2020, Neuro One Medical Technologies Corporation, announced its first human commercial use of its Evo Cortical Electrode.
  • May 2020, Natus Medical, Inc. entered into a partnership with Holberg EEG AS. This partnership aims to improve and automate the diagnosis of epilepsy by developing and distributing an Auto SCORE algorithm across the globe.
  • April 2020, Nihon Kohden disclosed the release of its new Premium electroencephalogram electrode, Disposable Gold Cup to the healthcare community.
  • April 2019, Medtronic entered into a distribution agreement with Alpha Omega. This agreement aimed to market Medtronic’s surgical navigation products designed for procedures in the brain.
  • May 2018, GE Healthcare collaborated with Preventice Solutions. This collaboration is aimed to offer GE Healthcare ECG service into the home, creating a complete solution for monitoring ambulatory ECG patients.
Frequently Asked Questions

Q1. How big is the Medical Electrodes market?

Ans. The global Medical Electrodes market size was USD 1.9 billion in 2021 and is anticipated to reach USD 2.6 billion in 2031, growing at a rate of 3.2% from 2022 to 2031.

Q2. What is the Medical Electrodes market growth rate?

Ans. The growth rate of the Medical Electrodes market is 3.2%.

Q3. Which region holds a major market share for the Medical Electrodes market?

Ans. North America holds a major market share of the Medical Electrodes market in 2021.

Q4. Which segment accounted for the largest Medical Electrodes market share?

Ans. By application, cardiology segment accounted for the largest Medical Electrodes market share.

Q5. Who are the key players in the Medical Electrodes market?

Ans. The global Medical Electrodes market report includes players such as Cardinal Health (US), 3M (US), ZOLL Medical Corporation (US), Medtronic (Ireland), Ambu A/S (Denmark), Natus Medical, Inc. (US), Koninklijke Philips N.V. (Netherlands), B. Braun Melsungen AG (Germany), CONMED Corporation (US), GE Healthcare (US), Cognionics, Inc. (US), Nihon Kohden Corporation (Japan), Rhythmlink International, LLC (US), Compumedics Limited (Australia), and Nissha Medical Technologies (Japan) among others.

Q6. What are the factors driving the Medical Electrodes market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Medical Electrodes market players?

Ans. The key growth strategies of Medical Electrodes market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Medical Electrodes market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Medical Electrodes market during the forecast period.

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Microplate Systems Market
September, 2022

The global microplate systems market was valued at USD 1.2 billion in 2021 and it is anticipated to grow up to USD 2.4 billion by 2031, at a CAGR of 7.2% during the forecast period.

Microbial interactivity is found in biological interactions and process among bacteria. It includes infections from plants, animals and also humans. Microplate systems are known as one of the most significant devices available to examine how the microbes act together. Microplate system is an apparatus used in the laboratory which is developed for finding out biological, chemical process and physical reactions for research and experimental activities. These systems are very useful for testing of gene expression reactions, biological reactions and quantification of proteins. Microplate system has its applications in drug discovery, environmental monitoring, treatment of waste water and fermented foods.

Global Microplate Systems Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$1.2 bn
Market Size in 2031$2.4 bn
Growth Rate (2021-31)7.2%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Application, End-use, and Region
Key CompaniesBio-Rad Laboratories Inc. (US), PerkinElmer (US), Danaher Corporation (US), Thermo Fisher Scientific (US), Agilent Technologies Inc. (US), Tecan (Switzerland), BMG Labtech (Germany), Promega Corporation (US), Enzo Life Sciences Inc. (US), Berthold Technologies (Germany), Biochrom (UK), Corning (US), Lonza (Switzerland)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Increasing R&D expenditure in the biopharmaceutical company will positively impact the market growth.The pharmaceutical and biotechnology industries are among the major end users in the microplate systems market. Microplate systems find high use in modern drug discovery and development activities and genomic & proteomic research, as they increase the test speed and accuracy, thus saving time and enabling researchers to focus on core tasks. Consequently, the increasing pace of R&D in the pharmaceutical industry—as evidenced by the rising expenditure in this area—can be taken as a key growth driver for the market. For instance, according to PhRMA, the R&D expenditure of PhRMA member companies in the US increased from ~USD 26.0 billion in 2000 to USD 58.8 billion in 2015. Similarly, as per EFPIA, in Europe, the pharmaceutical R&D expenditure increased from USD 16.5 billion in 2000 to USD 45.6 billion in 2019.

Market Restraints and Challenges

Survival of small players and new entrants may hinders the market growth to some extent. The survival of small players and new entrants in the microplate systems market is a significant challenge. Huge investments are required for the R&D and launch of innovative products in the market. Thus, to remain competitive in the market, companies have to invest heavily. Moreover, market players have to reduce operational costs to successfully survive in the market, which is very difficult for small players and new entrants.

Global Microplate Systems Market Segmental Overview

The report analyses the global microplate systems market based on product, application, end-use, and region.

Global Microplate Systems Market by Product

Based on product, it is segmented into multi-mode microplate readers and single-mode microplate readers. Among these, multi=mode microplate segment accounted for significant market share in 2021. demand for multi-mode readers is gaining impetus due to the greater flexibility, cost efficiency, and compact sizing options offered by them. Moreover, in addition to fluorescence, absorbance, and luminescence capabilities, multi-mode readers currently offer several configurable modes for fluorescence polarization, fluorescence resonance energy transfer, time-resolved fluorescence, and amplified luminescent proximity homogeneous assays, among others. These capabilities are strengthening the growth prospects for multi-mode readers in the near future.

Global Microplate Systems Market by Application

Based on application, it is segmented into drug discovery, clinical diagnostics, and others. Among them, clinical diagnostics segment is expected to experience the fastest growth rate during the forecast period. clinical diagnostics segment will hold a major share in the microplate systems market by 2028. The segment growth is driven by the ability of microplate instrumentation to ensure high efficiency and performance for improved clinical diagnostic workflows. Microplate instruments and software of Agilent BioTek, for example, have been developed for ease of use in operation and setup of ELISA microplate readers, among other uses. In addition, the commendable increase in the number of diagnostic and medical laboratories in the U.S. will further propel the deployment of microplate equipment to boost laboratory workflow.

Global Microplate Systems Market End-use

Based on end–use, it is segmented into biotechnology and pharmaceutical companies, hospitals and diagnostic laboratories, research and academia and others. Laboratories segment is anticipated to witness the fastest CAGR over the forecast period. High-throughput screening using MR can minimize the operational time required and save reagent costs by enabling analysis of up to 3456 samples at a time. This allows for greater flexibility with sample handling and provides more time for data analysis and interpretation, which form an important aspect of research activities. Hence, research applications of these instruments are expected to rise, as evident by the launch of new products suitable for research laboratories. For instance, in April 2022, Molecular Devices, LLC (Danaher Corporation) launched its SpectraMax Mini Multi-Mode Reader with a compact and economical benchtop design ideal for academic laboratories. Similarly, in February 2022, BMG LABTECH launched the VANTAstar microplate reader suitable for use in life sciences research activities.

Geographical Analysis of Global Microplate Systems Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific microplate systems market will amass substantial profits by 2031, as a result of the high burden of infectious diseases and favorable business landscape for biopharma companies in China, Japan, and other countries. In 2021, Japan-based Bushu Pharmaceuticals Ltd. signed a deal with Suzuken Co. with an aim to offer comprehensive support to specialty pharma manufacturers that are planning to enter the Japanese market. Situations such as these could positively impact the adoption of microplate systems for drug discovery and development activities in the regional pharma sector.

Major Players in the Global Microplate Systems Market

The key players in the microplate system market are Bio-Rad Laboratories Inc. (US), PerkinElmer (US), Danaher Corporation (US), Thermo Fisher Scientific (US), Agilent Technologies Inc. (US), Tecan (Switzerland), BMG Labtech (Germany), Promega Corporation (US), Enzo Life Sciences Inc. (US), Berthold Technologies (Germany), Biochrom (UK), Corning (US), and Lonza (Switzerland), among others.

COVID-19 Impact

Increase in COVID-19-related research activities to impact microplate systems market Trends. In the wake of the coronavirus pandemic, the healthcare domain has showcased severe disruptions due to issues regarding supply chain and raw material availability and manufacturing. Several academic, government, and industry research activities related to basic science as well as clinical studies also dwindled amid the pandemic, which may have impacted the microplate systems industry. However, the shifting focus from basic studies to COVID-19-related researches to address the growing demand for medications, diagnostics, and vaccines may create a positive impact on the industry outlook during the forecast timeline.

Recent Developments
  • In April 2022, Molecular Devices launched new multi-mode microplate reader for academia and biotech laboratories.
  • In May 2021, Beckman Coulter Life Sciences unveiled a new BioLector XT Microbioreactor, equipped with FlowerPlate microtiter plate technology, designed to enable high-throughput strain screenings, feeding strategy optimization, and cultivation parameter monitoring.
  • In May 2021, Thermo Fisher Scientific launched a range of automated incubators and storage systems, Cytomat 24, for microplate incubation applications.
  • In June 2020, Agilent Technologies Inc. launched the BenchCel Microplate Handler.
  • In July 2019, Agilent Technologies Inc. acquired BioTek Instruments to strengthen its product portfolio.
Frequently Asked Questions

Q1. How big is the microplate systems market?

Ans. The global microplate systems market size was USD 1.2 billion in 2021 and is anticipated to reach USD 2.4 billion in 2031, growing at a rate of 7.2% from 2022 to 2031.

Q2. What is the microplate systems market growth rate?

Ans. The growth rate of the microplate systems market is 7.2%.

Q3. Which region holds a major market share for the microplate systems market?

Ans. North America holds a major market share of the microplate systems market in 2021.

Q4. Which segment accounted for the largest microplate systems market share?

Ans. By end user, the laboratories segment accounted for the largest microplate systems market share.

Q5. Who are the key players in the microplate systems market?

Ans. The global microplate systems market report includes players such as Bio-Rad Laboratories Inc. (US), PerkinElmer (US), Danaher Corporation (US), Thermo Fisher Scientific (US), Agilent Technologies Inc. (US), Tecan (Switzerland), BMG Labtech (Germany), Promega Corporation (US), Enzo Life Sciences Inc. (US), Berthold Technologies (Germany), Biochrom (UK), Corning (US), and Lonza (Switzerland), among others.

Q6. What are the factors driving the microplate systems market growth?

Ans. The major factors driving the growth of the market are the increase in popularity for automated cell based and biochemical assays in biotechnology industries has boosted demand and requirement for microplate systems

Q7. What are the key growth strategies of microplate systems market players?

Ans. The key growth strategies of microplate systems market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the microplate systems market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the microplate systems market during the forecast period.

 

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Medical Device Contract Manufacturing Market
September, 2022

The global medical device contract manufacturing market was valued at USD 66.9 billion in 2021 and it is anticipated to grow further till USD 195.3 billion by 2031, at a CAGR of 11.3% during the forecast period.

Medical device contract manufacturing is a business model where a medical device company or Original Equipment Manufacturer (OEM) outsources some or all of the production activities of their entire medical device or some specific components of the device to another company with specialized knowledge, technical expertise, and effective business operations. Medical device contract manufacturing (MDCM) companies provide a range of services, including product development, manufacture, and assembly, quality assurance and control, packaging, sterilization, and regulatory advising. In response to the rapidly expanding and changing medical device industry, today’s contract manufacturers have expanded their manufacturing capabilities, technological know-how, and business definitions to become “total solutions providers,” “full-service providers,” or “end to end solution providers.”

Global Medical Device Contract Manufacturing Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$ 66.9 Bn
Market Size in 2031$ 195.3 Bn
Growth Rate (2021-31)11.3%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredDevice, Services, and Region
Key CompaniesJabil Inc., Synecco, Gerresheimer AG, Celestica Inc., Nordson Corporation, Teleflex Incorporated, Integer Holdings Corporation, Nipro Corporation, SteriPack Group Ltd., TE Connectivity Ltd., Nortech Systems Inc., Invetech and Biofortuna Limited among others.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Due to the increased development and production of sophisticated items like pacemakers and implanted medical devices, innovation in Class III medical devices is increasing. Given the intricacy of the assembly and testing processes, medical device manufacturers confront difficulties producing Class III devices in high amounts. Additionally, regulatory compliance for component traceability and verification, storage, and access must be met by both the devices and the processes. Automated production and manufacturing are essential due to the intricacy involved in generating a Class III device in these quantities. In order to achieve automation, high-quality manufacturing processes, and regulatory compliance, OEMs are using the knowledge of electronic manufacturing services. Advanced automation is made possible by Industry 4.0 technologies, such as cloud computing, machine-to-machine connectivity, and cyber-physical systems, which aid in overcoming these production issues. These technologies’ improved connectivity and data collection capabilities enable the development of high-volume, legally compliant manufacturing processes with effective inventory and production management.

Governments in numerous APAC nations are enticing manufacturers to include Industry 4.0 into their production methods in order to further the development of cutting-edge medical products. For instance, Thailand’s 4.0 growth model led to the establishment of an inventive centre to boost medtech device development and production. To help small and medium-sized businesses (SMEs) create newer technologies, the Intellectual Property Innovation-driven Entrepreneurship Center (IP-IDE) maintains its own data pool and patent information. The Thai government hopes to inspire Thai medical device companies to develop and expand into both domestic and international markets with the IP-IDE centre. The market for medical device outsourced manufacturing is anticipated to expand rapidly over the course of the forecast period due to the growing adoption of Industry 4.0 technologies in the production of sophisticated and crucial medical devices.

Market Restraints and Challenges

To improve their internal capabilities, large medical device makers are currently actively investing in the acquisition of small and medium-sized specialist businesses. Given that acquirers will be able to conduct manufacturing in-house, this could restrict outsourcing to CMOs. One illustration of this is Linden’s December 2018 acquisition of Avalign Technologies Medical, which significantly increased Linden’s capabilities and opened up new growth prospects for the company. To lower their costs for contract manufacturing, other medical device businesses are also acquiring CMOs. A change in the manufacturing of medical devices is the result of this. The advanced technology business unit of Vention Medical (US) was bought by Nordson (US) in 2017. Catheters, sophisticated components, and minimally invasive interventional delivery devices are all areas in which this market excels. Due to this advancement, OEMs will now manufacture a small portion of medical devices instead of CMOs.

Global Medical Device Contract Manufacturing Market Segmental Overview

The report analyses the global medical device contract manufacturing market based on the device, service, and region.

Global Medical Device Contract Manufacturing Market by Device

Based on the device, it is segmented into IVD devices, diagnostic imaging devices, cardiovascular devices, drug delivery devices, endoscopy devices, ophthalmology devices, orthopedic devices, dental devices, and other devices. The IVD devices segment is anticipated to dominate the market during the forecast period. The rising number of IVD tests conducted globally, the COVID-19 pandemic, the expanding availability of IVD kits and reagents, the rise in hospitals and clinical laboratories in developing nations, automation and technological advancements in instruments with high-throughput capabilities, and developments in life sciences research are all factors that contribute to the large share of this market.

Global Medical Device Contract Manufacturing Market by Service

Based on the service, it is segmented into device deployment & manufacturing service, quality management service, assembly service. The device deployment & manufacturing service segment is anticipated to dominate the market during the forecast period. The main causes of the large share of this market are the expanding use of contract manufacturing services in the medical device industry, expansion of the market for medical devices (particularly the market for single-use disposable medical devices), and improved device development and manufacturing capabilities.

Geographical Analysis of the Global Medical Device Contract Manufacturing Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The APAC region is anticipated to dominate the market during the forecast period. The majority of the APAC region’s market share can be attributed to several factors, including lower labour and raw material costs than in developed nations, rising demand for medical devices as a result of better healthcare infrastructure, adoption of technologically advanced products, and laxer regulations than in most developed nations.

Major Players in the Global Medical Device Contract Manufacturing Market

The key players studied in the report are Jabil Inc., Synecco, Gerresheimer AG, Celestica Inc., Nordson Corporation, Teleflex Incorporated, Integer Holdings Corporation, Nipro Corporation, SteriPack Group Ltd., TE Connectivity Ltd., Nortech Systems Inc., Invetech and Biofortuna Limited among others.

COVID-19 Impact

Major corporations around the world have experienced both positive and negative effects from the COVID-19 epidemic, which has disrupted production cycles and supply lines across industries. Since the number of infections shows no indications of decreasing, the medical device industry has encountered enormous obstacles in its efforts to end the pandemic. A second wave of the epidemic is currently affecting half of the planet.

The pandemic is anticipated to have an effect on the market since less people are using medical devices for elective treatments. The need for medical devices such as ventilators and respirators, on the other hand, has multiplied, enhancing the growth prospects for medical device contract makers.

Since the beginning of the epidemic, medical device contract manufacturing businesses have been closely observing the situation. Market participants have made sure that their clients’ supply chains are disrupted as little as possible. Companies have also established stricter cleaning and disinfection protocols, enforced visitor supervision and screening, limited business travel, set up remote working arrangements, and adopted strict quarantine procedures to assure safety.

Recent Developments
  • June 2022, Belgian contract manufacturer Amnovis and medical device service provider BAAT Medical teamed up to offer an innovative and rapid turnaround process for 3D printed medical devices.
  • May 2022, Biomerics, one of the leading vertically integrated medical device contract manufacturers serving the interventional device market, opened a 2,000 sp.ft. balloon and balloon catheter center of excellence in Galway. This is Biomerics first facility in Europe and the second facility outside the United States after Costa Rica.
  • November 2020, Nipro Corporation acquired Venari Medical’s exclusive sales rights for a vascular treatment device developed by Venari Medical in Japan and overseas.
  • October 2020, Nemera acquired Copernicus to become a leading patient-centric drug device combination solutions company. This acquisition will bolster the company’s production capabilities and expand its product portfolio.
  • September 2020, Nipro Corporation established its sales offices in Xi’an, Wuhan, Hefei, and Xiamen. The new offices will further more community-based, meticulous service network in China to provide more community-based, meticulous services and responds to the needs of the medical scene, thereby enhancing the presence of the “Nipro Brand”.
  • January 2020, Nipro Asia Pte Ltd. Acquired JMI Marketing to secure a large market share in Bangladesh’s rapidly growing economy for disposable medical devices, comprising infusion sets, syringes, and IV catheters.

Frequently Asked Questions

Q1. How big is the Medical Device Contract Manufacturing market?

Ans. The global Medical Device Contract Manufacturing market size was USD 66.9 billion in 2021 and is anticipated to reach USD 195.3 billion in 2031, growing at a rate of 11.3% from 2022 to 2031.

Q2. What is the Medical Device Contract Manufacturing market growth rate?

Ans. The growth rate of the Medical Device Contract Manufacturing market is 11.3%.

Q3. Which region holds a major market share for the Medical Device Contract Manufacturing market?

Ans. North America holds a major market share of the Medical Device Contract Manufacturing market in 2021.

Q4. Which segment accounted for the largest Medical Device Contract Manufacturing market share?

Ans. By device, IVD Devices segment accounted for the largest Medical Device Contract Manufacturing market share.

Q5. Who are the key players in the Medical Device Contract Manufacturing market?

Ans. The global Medical Device Contract Manufacturing market report includes players such as Jabil Inc., Synecco, Gerresheimer AG, Celestica Inc., Nordson Corporation, Teleflex Incorporated, Integer Holdings Corporation, Nipro Corporation, SteriPack Group Ltd., TE Connectivity Ltd., Nortech Systems Inc., Invetech and Biofortuna Limited among others.

Q6. What are the factors driving the Medical Device Contract Manufacturing market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Medical Device Contract Manufacturing market players?

Ans. The key growth strategies of Medical Device Contract Manufacturing market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Medical Device Contract Manufacturing market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Medical Device Contract Manufacturing market during the forecast period.

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Medical Cameras Market
September, 2022

The global medical cameras market was valued at USD 2.8 billion in 2021 and it is anticipated to grow further till USD 5.7 billion by 2031, at a CAGR of 7.4% during the forecast period.

By delivering images during numerous medical procedures like endoscopy, spectroscopy, ophthalmology, arthroscopy, and robotic surgery, medical cameras help surgeons and clinical staff. By making a person’s internal organs visible during surgery, they aid in the diagnosis and treatment of disorders. Additionally, it creates a database of typical anatomy and physiology, making it easier to spot any irregularities in a person’s internal organs. With a regular camera, it is impossible to determine properties like water content, chemical composition, and temperature. Medical cameras using infrared technology produce different wavelengths, which are a series of events. Inflamed tissue or irregular blood flow can be found using cameras with thermal imaging capabilities.

Global Medical Cameras Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$ 2.8 Bn
Market Size in 2031$ 5.7 Bn
Growth Rate (2021-31)7.4%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredType, Resolution, End User, and Region
Key CompaniesOlympus Corporation (Japan), Richard Wolf GmbH (Germany), TOPCON CORPORATION (Japan), Sony Corporation (Japan), Stryker (US), Danaher (US), Canon Inc. (Japan), Carl Zeiss AG (Germany), Smith & Nephew (UK), Carestream Dental LLC. (US), Basler AG (Germany), ATMOS MedizinTechnik GmbH & Co. KG. (Germany), IMPERX, Inc (US), IDS Imaging Development Systems GmbH (Germany), and Optomed Plc (Finland) among others.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Medical cameras are needed for a rising number of surgical procedures, which has significantly increased in recent years. The fast increasing senior population globally and the rising frequency of chronic diseases, which is driving up demand for medical equipment, are both responsible for the rising number of surgeries. The challenge of growing elder populations is one that many nations around the world are currently facing. The UN estimates that there were 703 million people worldwide who were 65 or older in 2019. In 2050, the number of seniors is predicted to increase to 1.5 billion. Older patients prefer non-invasive procedures over traditional ones since they have fewer complications. These procedures typically use endoscopy and microscope surgical cameras.

Market Restraints and Challenges

Low-megapixel camera images have a number of shortcomings. When such photos are cropped, zoomed in, or printed, the image quality suffers. Due to the numerous benefits linked to high-megapixel cameras, there is a rising demand for them. In India, endoscopic cameras used in clinics cost around US$1300, whereas prices for endoscopic cameras in hospitals range from US$500 to US$9,000. Prices for intraoral cameras range from $50 to $5,000. The number of megapixels, the type of sensor, and other factors affects camera prices.

Global Medical Cameras Market Segmental Overview

The report analyses the global medical camera market based on type, resolution, end user, and region.

Global Medical Cameras Market by Type

Based on the type, it is segmented into dental cameras, dermatology cameras, endoscopy cameras, ophthalmology cameras, surgical microscopy cameras, and other cameras. The endoscopy cameras segment is anticipated to dominate the market during the forecast period. One of the key factors propelling the market’s expansion is the increase in endoscopic treatments. Additionally, because to the advantages associated with minimally invasive surgical techniques, such as enhanced safety, fewer scarring, quicker recovery, and shorter hospital stays, there is an increase in their use. Additionally, there is a growing trend toward high-end image cameras. Moreover, a rising use of endoscopic devices in illness diagnostics has been noted, and this is another significant driver propelling the growth of the medical camera market. The demand for these tools has grown since disorders that can be identified by endoscopy are becoming more common. Endoscopic cameras of the present generation either have CCD (Charge-Coupled Device) sensors or CMOS (Complementary Metal Oxide Semiconductor) sensors.

Global Medical Cameras Market by Resolution

Based on the resolution, it is segmented into standard definition cameras, and high-definition cameras. High-definition cameras segment is anticipated to dominate the market during the forecast period. Due to the enormous demand for high-quality photos in the medical specialties, HD cameras are in higher demand among end users, which is principally responsible for this segment’s significant market share.

Global Medical Cameras Market by End User

Based on the end user, it is segmented into hospitals, specialty clinics, ambulatory surgery centers, and others. The hospital end user segment is anticipated to dominate the market during the forecast period. This is characterized by an increase in the number of hospitals, a big patient base for the target diseases, and rising healthcare costs.

Geographical Analysis of the Global Medical Cameras Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. The significant market share of the North American region is mostly due to improvements in medical camera technology, the deployment of pro-health government programs, and an increase in surgical procedures.

Major Players in the Global Medical Cameras Market

The key players studied in the report are Olympus Corporation (Japan), Richard Wolf GmbH (Germany), TOPCON CORPORATION (Japan), Sony Corporation (Japan), Stryker (US), Danaher (US), Canon Inc. (Japan), Carl Zeiss AG (Germany), Smith & Nephew (UK), Carestream Dental LLC. (US), Basler AG (Germany), ATMOS MedizinTechnik GmbH & Co. KG. (Germany), IMPERX, Inc (US), IDS Imaging Development Systems GmbH (Germany), and Optomed Plc (Finland) among others.

COVID-19 Impact

The majority of nations have experienced COVID-19-related healthcare service disruptions; the worst affected are the US, Russia, Spain, Italy, the UK, India, Germany, and Iran. The epidemic has caused diagnostic processes to be delayed in numerous nations globally. The market for medical cameras suffered from the postponement of operations and other treatments.

According to a study published in the Gastrojournal titled “Global Impact of the COVID-19 Pandemic on Endoscopy,” the number of endoscopic procedures carried out during the pandemic significantly decreased. Between April 23 and May 12, 2020, 252 endoscopy units around the world participated in the study. 2,069,447 endoscopic procedures were carried out by these endoscopy units in a single year. Endoscopic units reported an average 83% decrease in overall endoscopy volumes during the COVID-19 pandemic compared to baseline. Esophagogastroduodenoscopy, endoscopic ultrasonography, and endoscopic retrograde cholangiopancreatography procedures had an 82% decrease while lower endoscopy procedures saw an 85% decrease (flexible sigmoidoscopy and colonoscopy). The decline in endoscopic procedures brought on by the pandemic might impede the market’s expansion for medical cameras.

Recent Developments
  • November 2020, Optomed Plc announced Aurora IQ camera with integrated AI for faster eye screening.
  • May 2019, Olympus launched a small intestine endoscopy system, “power spiral” in Asia, including Hong Kong, India, Europe.
  • February 2019, Carl Zeiss AG and Chrisoffel Mission for the Blind came together with a local partner, the Poona Blind Men Association, to open a new training center for the treatment of cataracts in Pune. The aim of this new center is to train ophthalmologists and medical personnel throughout the country in phacoemulsification, a modern surgical technique.
Frequently Asked Questions

Q1. How big is the Medical Cameras market?

Ans. The global Medical Cameras market size was USD 2.8 billion in 2021 and is anticipated to reach USD 5.7 billion in 2031, growing at a rate of 7.3% from 2022 to 2031.

Q2. What is the Medical Cameras market growth rate?

Ans. The growth rate of the Medical Cameras market is 7.3%.

Q3. Which region holds a major market share for the Medical Cameras market?

Ans. North America holds a major market share of the Medical Cameras market in 2021.

Q4. Which segment accounted for the largest Medical Cameras market share?

Ans. By type, dental cameras segment accounted for the largest Medical Cameras market share.

Q5. Who are the key players in the Medical Cameras market?

Ans. The global Medical Cameras market report includes players such as Olympus Corporation (Japan), Richard Wolf GmbH (Germany), TOPCON CORPORATION (Japan), Sony Corporation (Japan), Stryker (US), Danaher (US), Canon Inc. (Japan), Carl Zeiss AG (Germany), Smith & Nephew (UK), Carestream Dental LLC. (US), Basler AG (Germany), ATMOS MedizinTechnik GmbH & Co. KG. (Germany), IMPERX, Inc (US), IDS Imaging Development Systems GmbH (Germany), and Optomed Plc (Finland) among others.

Q6. What are the factors driving the Medical Cameras market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Medical Cameras market players?

Ans. The key growth strategies of Medical Cameras market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Medical Cameras market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Medical Cameras market during the forecast period.

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Minimally Invasive Surgical Instruments Market
September, 2022

The global minimally invasive surgical instruments market was valued at USD 12.8 billion in 2021 and it is anticipated to grow up to USD 65.3 billion by 2031, at a CAGR of 17.7% during the forecast period.

Minimally invasive surgeries are much less traumatic than conventional open surgeries. Traditional surgeries performed with conventional laparoscopic instruments can be traumatic and complex. Minimally invasive laparoscopic cameras are inserted through smaller incisions and specialized smaller instruments are used to perform the operation. The healing process is less painful and patients can recover fastest after minimally invasive surgeries.

Global Minimally Invasive Surgical Instruments Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$12.8 bn
Market Size in 2031$65.3 bn
Growth Rate (2021-31)17.7%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredDevice, Application, End-use and Region
Key CompaniesMedtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US), Abbott Laboratories, Inc. (US), Boston Scientific Corporation (US), B. Braun Melsungen AG (Germany), CONMED Corporation (US), Smith & Nephew plc (UK), Zimmer Biomet Holdings, Inc. (US), Becton, Dickinson and Company (US)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Advantages of MIS over open surgical techniques will fuel the industry growth. Over the years, minimally invasive surgeries (MIS) have undergone a drastic transformation in technological advancements, which has brought about a paradigm shift in the way surgical procedures are performed in operating rooms. Most surgeons currently opt for advanced minimally invasive surgical procedures such as laparo-endo single-incision surgery (LESS) due to their advantages over traditional open surgical techniques. These advantages include fewer scars and tissue injury, quicker recovery periods, shorter hospital stays, reduced blood loss and trauma, lower risk of infection, and reduced overall healthcare costs. In addition, minimally invasive surgeries are increasingly being covered by health insurance providers in select countries. These factors have led to an increased preference for minimally invasive surgeries among patients.

Market Restraints and Challenges

Changing regulatory landscape in the medical device industry will augment the market growth. The regulatory environment is extremely uncertain for medical device manufacturers. From 2005 to 2010, the average time taken to approve a 510 (k) application increased by 43%, while the time required to obtain a premarket approval increased by 75%. The US FDA demands more clinical data with respect to the clinical safety and efficacy of a product. This leads to increased investments by companies in clinical trials, delays in the approval process, and additional capital requirements for in-depth post-marketing surveillance studies. It also increases the risk of product recalls, especially when companies lack the funds to conduct additional studies to support additional data requirements from the FDA. These delays in approvals also restrain the growth of the minimally invasive surgical instruments market. Such regulatory reforms also restrict small manufacturers from entering the market.

Global Minimally Invasive Surgical Instruments Market Segmental Overview

The report analyses the global minimally invasive surgical instruments market based on device, application, end-use, and region.

Global Minimally Invasive Surgical Instruments Market by Device

Based on device, it is segmented into, Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, and Monitoring & Visualization Devices. Among these, in 2021, the handheld instruments segment dominated the minimally invasive surgical instruments market with more than 22% share. Handheld instruments used in MIS techniques target reducing the amount of damage to extraneous tissues during surgical procedures, thereby speeding patient recovery time and reducing discomfort & side effects. Most of the instruments in the MIS market are single-use products. The handheld instruments market is driven by technological innovations and their growing adoption in minimally invasive surgeries. For instance, a low-cost mechanical instrument has been developed recently to perform minimally invasive laparoscopic surgeries. These handheld devices can be either mechanical, robotic, or semi-automated. Handheld devices ensure easier access during surgery with instrument triangulation, thereby reducing the risk of potential mistakes.

Global Minimally Invasive Surgical Instruments Market by Application

Based on application, it is segmented into cardiac, gastrointestinal, orthopedic, vascular, gynecological, urological, thoracic, cosmetic, dental and others. Among them, in 2021, Cardiac is one of the key factors boosting the adoption of minimally invasive surgeries. Minimally invasive surgeries have various potential benefits over conventional surgeries such as minimal blood loss, reduction in pain & trauma, minimal risk of infection, lesser or smaller noticeable scars, faster recovery, shorter duration of hospitalization, and quicker return to normal activities. Rising incidence of cardiovascular diseases is one of the significant factors leading to an increase in the adoption of minimally invasive surgeries over conventional ones owing to the various advantages of these surgeries.

Global Minimally Invasive Surgical Instruments Market by End-use

Based on end-use, it is segmented into hospital, and ambulatory surgical center. Among them, ambulatory surgical centers are expected to witness the fastest growth rate over the forecast period. Currently, over 5,500 Medicare certified ambulatory surgical centers are present in the U.S. Ambulatory surgical centers offer surgeries to patients at lower costs and greater flexibility of scheduling as compared to hospitals. Also referred to as same-day surgery centers, these medical facilities discharge patients after minor surgeries. The demand for outpatient surgeries is likely to grow dramatically in the coming years. The growth in ambulatory surgical centers can be attributed to several factors including rise in minimally invasive procedures, advancement in the field of anesthesia, enhanced patient experiences, legislative changes, and economic pressures. To encourage the use of ambulatory surgical centers, Medicare waived the part B deductible for beneficiaries.

Geographical Analysis of Global Minimally Invasive Surgical Instruments Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for significant revenue size in 2021. North America dominated the regional segment of minimally invasive surgical instrument market in 2021 due to the high rate of unintentional injuries and large geriatric population. According to a report by the Organization for Economic Co-operation and Development (OECD), per capita healthcare expenditure in the U.S. is higher than all the other countries in the world. In addition, patients in the U.S. have the ability to choose methods of treatment as well as the providers. This is likely to have a positive impact on the MIS market in North America. On the other hand, Asia Pacific is expected to be fastest-growing regional market from 2022 to 2030.

Major Players in the Global Minimally Invasive Surgical Instruments Market

The key players in the market are Medtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US), Abbott Laboratories, Inc. (US), Boston Scientific Corporation (US), B. Braun Melsungen AG (Germany), CONMED Corporation (US), Smith & Nephew plc (UK), Zimmer Biomet Holdings, Inc. (US), Becton, Dickinson and Company (US), among others.

COVID-19 Impact

Despite, huge investment in R&D and product launches with advanced features, the minimally invasive surgical instruments market witnessed a dip in 2020 due to the outbreak of COVID-19. National lockdowns, stop on logistics movements, lack of resource availability, and most importantly, the economic instability of hospitals and end use settings, led to the fall of the market. A dramatic decline in elective surgeries by nearly 50% across the globe, cancellation of planned laparoscopic surgeries for the year 2020 and early 2021, reduced medical staff, increased workload on surgeons, and risk associated with viral spread, also fueled the market drop. However, it is said to rise sharply by early 2022.

Recent Developments
  • In May 2022, Surgical instruments manufacturer launches new green initiative. This initiative includes launching a new Ethical Duty Smart Repair service, which actively promotes the repair and refurbishment of surgical instruments and other medical devices to tackle global steel wastage.
  • In March 2021, Johnson & Johnson (US) launched its ECHELON+ Stapler.
  • In October 2020, MMI SpA, an Italian company dedicated to improving clinical outcomes for patients undergoing microsurgery, announced today the CE Mark, launch and first human use of its Symani® Surgical System in Europe for open microsurgical procedures.
  • In June 2019, Medtronic plc (Ireland) acquired Titan Spine (Germany). This acquisition strengthened Medtronic’s position as a leading innovator in procedural solutions for spine surgery.
  • In November 2018, Stryker Corporation (US) acquired K2M Group to strengthen and expand its product offerings in the arthroscopy and minimally invasive spine portfolio and expand its manufacturing capabilities.

Frequently Asked Questions

Q1. How big is the orthopedic braces & supports market?

Ans. The global minimally invasive surgical instruments market size was USD 12.2 billion in 2021 and is anticipated to reach USD 65.3 billion in 2031, growing at a rate of 17.7 % from 2022 to 2031.

Q2. What is the minimally invasive surgical instruments market growth rate?

Ans. The growth rate of the minimally invasive surgical instruments market is 17.7%.

Q3. Which region holds a major market share for the molecular quality controls market?

Ans. North America holds a major market share of the minimally invasive surgical instruments market in 2021.

Q4. Which segment accounted for the largest minimally invasive surgical instruments market share?

Ans. By end user, the healthcare segment accounted for the largest minimally invasive surgical instruments market share.

Q5. Who are the key players in the molecular quality controls market?

Ans. The global minimally invasive surgical instruments market report includes players such as Medtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US), Abbott Laboratories, Inc. (US), Boston Scientific Corporation (US), B. Braun Melsungen AG (Germany), CONMED Corporation (US), Smith & Nephew plc (UK), Zimmer Biomet Holdings, Inc. (US), Becton, Dickinson and Company (US), among others.

Q6. What are the factors driving the minimally invasive surgical instruments market growth?

Ans. The major factors driving the growth of the market are the rising number of surgical procedures.

Q7. What are the key growth strategies of minimally invasive surgical instruments market players?

Ans. The key growth strategies of minimally invasive surgical instruments market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the minimally invasive surgical instruments market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the minimally invasive surgical instruments market during the forecast period.

 

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Mobile Biometrics Market
September, 2022

The global mobile biometrics market was valued at USD 20.6 billion in 2021 and it is anticipated to grow up to USD 63.0 billion by 2031, at a CAGR of 11.8% during the forecast period.

Mobile biometrics is the use of biometrics on mobile devices such as smartphones and tablets. Mobile biometrics can be used for a variety of purposes, including authentication, identification, and security. Mobile biometrics can also be used to identify users for the purposes of security and fraud prevention. Authentication is the process of verifying that a user is who they claim to be. Identification is the process of determining who a user is based on their biometrics. Security is the process of protecting data and devices from unauthorized access. There are a variety of mobile biometrics technologies available, including fingerprint recognition, iris recognition, and facial recognition. Each of these technologies has its own strengths and weaknesses. Fingerprint recognition is the most common form of mobile biometrics. It is accurate and reliable, but it can be fooled by fake fingerprints. Iris recognition is more accurate than fingerprint recognition, but it is more expensive and requires special hardware. Facial recognition is the most accurate form of mobile biometrics, but it is the most expensive and requires special hardware.

Global Mobile Biometrics Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$20.6bn
Market Size in 2031$63.0 bn
Growth Rate (2021-31)11.8%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredComponent, Technology, Authentication Type, End-user and Region
Key CompaniesApple Inc. (U.S.) Nuance Communications, Inc. (U.S.), Safran SA (France), NEC Corporation (Japan), 3M Cogent, Inc. (U.S.), and Precise Biometrics (Sweden), and M2SYS Technology (U.S.). Crossmatch (U.S.) BIO-key (U.S.), Aware Inc. (U.S.), Applied Recognition, Inc. (Canada), EyeVerify, Inc. (U.S.)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Growing number of Mobile subscribers is driving the demand of Mobile Biometrics systems. The growing mobile subscribers base has brought significant growth in the Mobile Biometrics Market. According to Global System for Mobile Communications Association (GSMA) Mobile economy report 2021, there were approximately 5.2 billion unique mobile subscribers in 2020 which was forecasted to reach 5.7 billion by the end of 2025 among which smartphones accounted for 60% of the connections and it is expected that the number would reach approximately six billion in 2026, with an 80% share of smartphones. This increasing number of mobile subscribers across the globe tend to boost the demand of mobile biometrics for security applications, further driving its market growth during the forecast period. In last few years, global electronics market has witnessed a huge market growth across the globe due to the mass production of mobile devices of flexible price ranges. Mobile devices with price range around $95 has in-built fingerprint biometric systems. These makes these devices affordable to majority of the consumers across the globe. With this huge availability of mobile subscribers across the globe, the threat of theft and data leakage is always at peak. This uplift the demand of Mobile biometrics system installed in their smartphones which is anticipated to create huge market scope for the Mobile Biometrics market in global level.

Market Restraints and Challenges

The protection of the biometric data and the expenses involved in the placement of mobile biometrics systems might further challenge the growth of the mobile biometrics market in the near future. One of the most important factors restraining the market growth of Mobile Biometrics is the false positives and inaccuracy. Biometric authentication methods rely on partial information to authenticate a user’s identity. For instance, a mobile biometric device will scan an entire fingerprint during the enrolment phase and convert it into data. However, future biometric authentication of the fingerprint will only use parts of the prints to verify identity so it’s faster and quicker. For instance, in 2019, a group of hackers who worked as part of the X-Lab security research team at a Chinese company called Tencent, demonstrated their fingerprint hacking methodology at the GeekPwn 2019 conference in Shanghai. They stated, any fingerprint scanner can be beaten using equipment costing $140 and an app that analyses a photograph of your print. This hacking capabilities tend to bring major challenges in the market growth of Mobile Biometrics during the forecast period.

Global Mobile Biometrics Market Segmental Overview

The report analyses the global needle-free injection system market based on Component, Technology, Authentication Mode, End-use and region.

Global Mobile Biometrics Market by Component

Based on component, it is segmented into hardware, software, and service. Among these, in 2021, the hardware segment accounted for the larger share of the needle-free injection system market. Hardware components are analysed to hold highest share 52.18% in 2020 owing to the increasing adoption of these technologies in various smartphones. In last few years, global electronics market has witnessed a huge market growth across the globe due to the mass production of mobile devices of flexible price ranges. Mobile devices with price range around $95 has in-built fingerprint biometric systems. This availability of low-cost mobile devices with fingerprint biometrics makes it affordable to majority of the consumers across the globe. This high production of affordable mobile devices with fingerprint recognition systems tend to drive the market growth of Hardware segment during the forecast period

Global Mobile Biometrics Market by Technology

Based on technology, it is segmented into face, fingerprint, hand geometry, iris, voice and others. Among them, in 2021, the fingerprint segment is expected to command the largest share of the global needle-free injection system devices market by technology. With the advent of computerized databases and digitization, contactless biometrics verification has a high industrial adoption rate worldwide. Rising demand for secure, hygienic, and convenient authentication systems in condominiums and clubs across the globe is anticipated to drive market growth. For instance, in April 2020, several clubs and condominiums such as Residencial Alphaville Zero, Tamboré 1, and Residencial Alphaville 1, among others in the São Paulo region installed IDEMIA’s MorphoWave Compact, a contactless biometric access control. The access control performs a 3D scan and verification of fingers and offers a hygienic and secure identification experience to the users.

Global Mobile Biometrics Market by Authentication Mode

Based on authentication mode, it is segmented into single factor authentication and multi factor authentication. Among them, in 2021, single factor authentication is estimated to account for the largest share of the needle-free injection system market. Single-factor authentication is a common low-security method of authentication. It only requires matching one factor—such as a password—to a username to gain access to a system

Global Mobile Biometrics Market by End-user

Based on end-use, it is segmented into BFSI, government & defense, aerospace, automotive, consumer electronics, healthcare, retail & e-commerce and others. The healthcare segment accounted for the largest market share in 2021. The healthcare sector is expected to register considerable growth over the forecast period. The rapid technological advancements and AI-powered face and iris identification systems allow hospital facilities to track patients without using physical tracking devices. Furthermore, the emergence of real-time emotion detection, which is an application of face recognition in healthcare is also gaining popularity. It is used to detect emotions that patients exhibit during their stay in the facility. The data is used to determine how patients are feeling and also helps to identify where the patients need more attention in the case, theyre in pain. will propel the market growth.

Geographical Analysis of Global Mobile Biometrics Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for significant revenue size in 2021. This dominance can be attributed to the presence of technology providers such as nVIAsoft Corporation, HID Global, M2SYS Technology, and BioConnect, in the region. Increasing demand for contactless biometrics solutions by payment solution providers to offer secure transactions to their customers in the region is further expected to drive regional growth. For instance, in October 2019, SnapPay, Inc., a provider of payment solutions, announced the availability of facial recognition-based payment technology for merchants in North America. The rising adoption of contactless biometrics solutions in defense and government applications is also expected to drive the demand for the market in North America. Furthermore, increasing government initiatives to implement contactless biometrics solutions to deal with an increasing number of travelers and to increase security at airport facilities are expected to drive the regional demand. For instance, in 2018, the Canadian Border Services Agency installed kiosks, which utilize facial recognition technology at airports. The new technology utilized both facial recognition and fingerprint biometrics to facilitate clearance procedures for travelers at airports in Canada.

Major Players in the Global Mobile Biometrics Market

The key players in the mobile biometrics market are Apple Inc. (U.S.), Nuance Communications, Inc. (U.S.), Safran SA (France), NEC Corporation (Japan), Thals Group (U.S.), Precise Biometrics (Sweden), M2SYS Technology (U.S.), HID Global Corporation (U.S.), BIO-key (U.S.), Aware Inc. (U.S.) and Applied Recognition, Inc. (Canada), among others.

COVID-19 Impact

The recent COVID-19 epidemic that prompted a shift towards social distancing is influencing organizations to move from contact-based biometrics technology to contactless biometrics solutions. The pandemic also brought contactless biometrics to broader use for early detection, public safety monitoring, and patient screening. With the rise of this pandemic across the globe, several institutions, governments, and organizations are now focusing on hygiene and a secure way of sustaining personal identities, offering access controls with no physical contact to the users. Governments across the globe have worked up their measures to implement contactless biometrics technology to quickly react to the crisis.

Recent Developments
  • In May 2022, Apple has reportedly won a patent for new under display technology that can capture biometric data with higher speed and accuracy by using optical fibres.
  • In March 2022, Precise Biometrics has entered a new partnership with Compare-IT, which focuses on the combination of biometric access technologies and smart energy solutions.
  • In January 2021, Fabrick launched mobile biometric open finance solution with Mastercard APIs.
  • In October 2020, Aware, Inc., a leading global provider of biometrics software products, solutions and services launched their new mobile biometric software named Knomi in the authentication of offenders in Arkansas. It offers mobile biometric authentication solution featuring face and voice liveness detection.
  • In March 2019, AppGuard launched TRUSTICA Mobile, which is a consumer mobile device communication app with military-grade security. This device includes iris, facial, and fingerprint biometrics for user authentication and encryption keys that change for each interaction. This tend to uplift the market growth of Mobile Biometric systems in Military & Defence applications.
Frequently Asked Questions

Q1. How big is the mobile biometrics market?

Ans. The global mobile biometrics market size was USD 20.6 billion in 2021 and is anticipated to reach USD 63.0 billion in 2031, growing at a rate of 11.8% from 2022 to 2031.

Q2. What is the mobile biometrics market growth rate?

Ans. The growth rate of the mobile biometrics market is 11.8%.

Q3. Which region holds a major market share for the mobile biometrics market?

Ans. North America holds a major market share of the mobile biometrics market in 2021.

Q4. Which segment accounted for the largest mobile biometrics market share?

Ans. By end user, the healthcare segment accounted for the largest mobile biometrics market share.

Q5. Who are the key players in the mobile biometrics market market?

Ans. The global mobile biometrics market report includes players such as Apple Inc. (U.S.), Nuance Communications, Inc. (U.S.), Safran SA (France), NEC Corporation (Japan), Thals Group (U.S.), Precise Biometrics (Sweden), M2SYS Technology (U.S.), HID Global Corporation (U.S.), BIO-key (U.S.), Aware Inc. (U.S.) and Applied Recognition, Inc. (Canada), among others.

Q6. What are the factors driving the mobile biometrics market growth?

Ans. The major factors driving the growth of the mobile biometrics market are the rising demand for needle free vaccine due to COVID-19 pandemic across the globe.

Q7. What are the key growth strategies of mobile biometrics market players?

Ans. The key growth strategies of mobile biometrics market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the mobile biometrics market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the mobile biometrics market during the forecast period.

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Near Infrared Imaging/NIR Market
September, 2022

The global near infrared imaging/NIR market was valued at USD 216.7 million in 2021 and it is anticipated to grow up to USD 614.5 million by 2031, at a CAGR of 11.0% during the forecast period.

Near infrared imaging uses light between 650 to 950 nm to detect any changes induced, injury, or disease. It is a powerful diagnostic tool for minimally invasive and nonionizing method for tissue imaging. NIR are not absorbed well by the blood or water, which are the main components of tissues, thus increases the changes of illumination for internal structures. It is advantageous over other techniques since it provides better resolution and is less harmless to patients.

Global Near Infrared Imaging/NIR Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$216.7 mn
Market Size in 2031$614.5 mn
Growth Rate (2021-31)11.0%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Application, End-use, and Region
Key CompaniesStryker (US), KARL STORZ SE & Co. KG (Germany), Carl Zeiss Meditec AG (Germany), Leica Microsystems (US), Olympus Corporation (Japan), PerkinElmer, Inc. (US), LI-COR, Inc. (US), Medtronic (US), Hamamatsu Photonics K.K. (Japan), and Shimadzu Corporation (Japan)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Growing number of surgical procedures globally will positively impact the market growth. Globally, the number of surgical procedures is on the rise owing to the rising prevalence and incidence of various diseases such as cancer, cardiovascular diseases, neurovascular diseases, and gastrointestinal diseases. Surgical cosmetic procedures and trauma cases are also contributing to the increasing number of surgical procedures. NIR imaging is used for intraoperative imaging during various surgical procedures, such as plastic and reconstructive surgeries, oncology surgeries, gastrointestinal surgeries, cardiovascular surgeries, cardiothoracic surgeries, and neurovascular surgeries. NIR imaging enables surgeons to assess blood flow, tissue viability, and perfusion during these surgeries. In cancer surgeries, NIR imaging is used to establish positive margins that help in the demarcation of cancerous tissues versus normal tissues. Therefore, the increasing number of surgical procedures is expected to drive the NIR imaging market.

Market Restraints and Challenges

Prolonged approval process may hinder the industry growth to some extent. There are only two FDA-approved NIR fluorophores—indocyanine green (ICG) (approved for clinical use in 1959) and methylene blue (MB). However, both ICG and MB are blood pool agents that have no specificity for tumors or normal tissues and are, thus, not ideal fluorophores for fluorescence image-guided surgery. The visualization of the target tissues mainly depends on the efficacy of fluorescent agents, resulting from the difference in the amount of molecular uptake into the target and neighboring normal tissues. Targeted fluorophores enable the visualization of the desired target tissues, thus enhancing the clinical outcomes. However, the introduction of targeted fluorophores is mainly restricted due to the absence of US Food and Drug Administration (FDA) approvals. Additionally, imaging agents have to undergo the same FDA approval process as other pharmaceutical drugs, which may take approximately a decade and around USD 150 million for a fluorescent probe to become available in the market. Post-approval, imaging agents are required to be paired with a specific model of an imaging device. For instance, the approval of Cysview (Photocure) with KARL STORZ’s blue light cystoscope PDD System. This practice limits the entry and adoption of molecularly targeted NIRF imaging agents in clinical practices, thus hindering the market growth.

Global Near Infrared Imaging/NIR Market Segmental Overview

The report analyses the global near infrared imaging/NIR market based on product, application, end-use, and region.

Global Near Infrared Imaging/NIR Market by Product

Based on product, it is segmented into devices and reagents. Devices segment further sub-segmented into near-infrared fluorescene imaging systems, and near-infrared fluorescene and bioluminescene imaging systems. Among these, in 2021, the reagent segment accounted for the larger share. The large share of this segment can be attributed to the as reagents offer several advantages over traditional visible light dyes including high sensitivity and specific detection in biological systems. Reagents are sub-categorized as Indocyanine Green (ICG) and other reagents. The reagents segment is expected to grow considerably during the forecast period owing to the benefits offered by ICG. Indocyanine green offers real-time angiographic images during brain tumor or vascular surgery. Moreover, it is increasingly being used for spine surgery. Hence, growing applications of ICG along with its advantages are the major drivers of the segment.

Global Near Infrared Imaging/NIR Market by Application

Based on application, it is segmented into preclinical imaging, cancer surgeries, gastrointestinal surgeries, cardiovascular surgeries, plastic/reconstructive surgeries and others. Among them, in 2021, the preclinical imaging segment is expected to command the largest share of the global needle-free injection system devices market by technology. Near-infrared (NIR) regents are used in preclinical imaging research to study diseases and conditions such as cancer, inflammation, infection, vascular, and others. The development of advanced NIR reagents with improved fluorescence, tissue penetration, and targeted fluorescence capabilities promotes its adoption into preclinical research. For instance, COX 2 probe- a targeted NIR dye developed by PerkinElmer Inc. detects cyclooxygenase-2, produced in early-stage cancer Such dyes are used in faster clinical development of oncology drugs and diagnostic devices.

Global Near Infrared Imaging/NIR Market by End-use

Based on end-use, it is segmented into hospitals & clinics, pharmaceutical & biotechnology companies and research laboratories. Among them, in 2021, the hospitals and clinics segment captured the largest revenue share and is expected to lead in the future as well. This growth is owing to an increase in the number of admissions of cancer patients in clinics and hospitals and well-established healthcare facilities in developed countries. Near infrared technologies are widely used in hospitals and clinics for detection of bedsores to prevent surgical errors. Laparoscopic devices integrated with near infrared sensors help surgeons to avoid accidental cutting of blood vessels. The adoption of these devices helps in reducing surgical errors and minimizing the duration of hospital stay and healthcare costs for patients. The increasing patient demand for minimally invasive and efficient surgical methods is expected to boost the demand for near infrared products.

Geographical Analysis of Global Near Infrared Imaging/NIR Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for significant revenue size in 2021. This growth is owing to the high disposable income of consumers, speedy adoption of technologically advanced medical devices, and diagnostic techniques. A large number of cancer cases reported in the country are expected to boost the market in the U.S. According to the American Cancer Society, around 1685,210 new cancer cases were identified in 2016 in the U.S. In addition, rise in the number of reconstructive and cosmetic surgeries in the country owing to increased spending and rising awareness regarding early diagnosis is expected to create robust growth opportunities.

Major Players in the Global Near Infrared Imaging/NIR Market

The key players in the market are Stryker (US), KARL STORZ SE & Co. KG (Germany), Carl Zeiss Meditec AG (Germany), Leica Microsystems (US), Olympus Corporation (Japan), PerkinElmer, Inc. (US), LI-COR, Inc. (US), Medtronic (US), Hamamatsu Photonics K.K. (Japan), and Shimadzu Corporation (Japan), among others.

COVID-19 Impact

Globally, the outbreak of COVID-19 has impacted every aspect of the medical devices industry, including interventional neurology devices. From the past six months, the number of patient visits to hospitals has also reduced significantly despite the emergency. There is considerable variation in the management of surgical procedures during the COVID-19 pandemic. Patients are avoiding healthcare institutions to prevent contact with COVID-19 patients and healthcare professionals. Falling rates have been observed across a range of acute and critical conditions, including stroke, myocardial infarction, and various cancers. The near-infrared imaging market is expected to be impacted due to the temporary postponement of various elective surgeries, as governments and authorities seek to ensure the availability of resources for COVID-19 patients. Closed manufacturing facilities due to lockdowns have also disrupted supply chains, and reduced recruitments for clinical trials have further impacted the growth of the overall near-infrared imaging market in 2020.

Recent Developments
  • In January 2021, KARL STORZ announced the launch of the system named IMAGE1 S Rubina multimode visualization, the latest advancement in endoscopic imaging. This technology combines state-of-the-art 4K resolution with superior fluorescence-guided imaging using indocyanine green dye and near-infrared light and (NIR/ICG).
  • In January 2021, Leica Microsystems partnered with Imperial College London in the field of optical imaging and its use in research and innovation.
  • In December 2020, Olympus expanded its VISERA ELITE II surgical imaging platform with the addition of 3D ENDOEYE video laparoscope and a dedicated IR Xenon light source equipped with 3D and Infra-red (IR) capabilities respectively.
  • In 2019, Leica Microsystems received De Novo clearance from the US Food and Drug Administration (FDA) to market its FL400 surgical microscope filter in the US.
  • In 2019, Stryker acquired Mobius Imaging, LLC and GYS Tech, LLC (US). The acquisition strengthened Strykers portfolio of orthopedics, spine, and neurotechnology products.
Frequently Asked Questions

Q1. How big is the orthopedic braces & supports market?

Ans. The global near infrared imaging/NIR market size was USD 216.7 million in 2021 and is anticipated to reach USD 614.5 million in 2031, growing at a rate of 11.0% from 2022 to 2031.

Q2. What is the near infrared imaging/NIR market growth rate?

Ans. The growth rate of the near infrared imaging/NIR market is 11.0%.

Q3. Which region holds a major market share for the needle-free injection system market?

Ans. North America holds a major market share of the near infrared imaging/NIR market in 2021.

Q4. Which segment accounted for the largest near infrared imaging/NIR market share?

Ans. By end user, the healthcare segment accounted for the largest near infrared imaging/NIR market share.

Q5. Who are the key players in the needle-free injection system market?

Ans. The global near infrared imaging/NIR market report includes players such as Stryker (US), KARL STORZ SE & Co. KG (Germany), Carl Zeiss Meditec AG (Germany), Leica Microsystems (US), Olympus Corporation (Japan), PerkinElmer, Inc. (US), LI-COR, Inc. (US), Medtronic (US), Hamamatsu Photonics K.K. (Japan), and Shimadzu Corporation (Japan), among others.

Q6. What are the factors driving the near infrared imaging/NIR market growth?

Ans. The major factors driving the growth of the market are the rising significance of early disease diagnosis driven by a considerable rising prevalence of chronic disorders across the globe.

Q7. What are the key growth strategies of near infrared imaging/NIR market players?

Ans. The key growth strategies of near infrared imaging/NIR market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the near infrared imaging/NIR market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the near infrared imaging/NIR market during the forecast period.

 

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Molecular Quality Controls Market
September, 2022

The global molecular quality controls market was valued at USD 164.0 million in 2021 and it is anticipated to grow up to USD 311.4 million by 2031, at a CAGR of 6.6% during the forecast period.

Molecular quality control refers to the testing and reporting of any irregularity in diagnostic products, which can affect decisions regarding approval of the product for use in laboratories. Molecular laboratories use thorough QC (quality control) procedures to supervise the testing for both systematic as well as random errors and detect immediate shifts in data and abnormalities in long-term trends. Early detection of potential anomalies is crucial for laboratories, as it helps them implement a timely response and avoid negative impacts on patient data.

Global Molecular Quality Controls Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$164.0 mn
Market Size in 2031$311.4 nn
Growth Rate (2021-31)6.6%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Technology, Application, End-use and Region
Key CompaniesF. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific, Inc. (US), Randox Laboratories Ltd. (UK), LGC Limited (UK), Abbott Laboratories (US), Fortress Diagnostics (UK), SERO AS (Norway), Anchor Molecular (US), Ortho-Clinical Diagnostics, Inc. (US), Quidel Corporation (US), Sun Diagnostics, LLC (US), Seegene Inc. (South Korea)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Increasing number of accredited clinical laboratories is anticipated to propel the market growth. Globally, the number of laboratory tests being conducted has increased owing to the rising burden of various diseases worldwide. To meet this demand, the number of laboratories in public as well as the private sector is increasing. In most countries, it is mandatory for clinical laboratories to secure accreditation from regulatory bodies such as the International Organization for Standardization (ISO) 15189:2012 and other similar standards to perform diagnostic tests. During the accreditation process, the respective authorities evaluate the quality system and competence of a laboratory based on specific standards. For instance, in 2020, the number of total laboratory entities registered for CLIA accreditation increased to 286,396 as compared to 259,967 in 2017. Also, in 2018, 15,353 laboratories received CLIA accreditation by several accreditation organizations (Source: CLIA UPDATE – January 2020).

Market Restraints and Challenges

Additional costs involved in quality control and budget constraints in hospitals and laboratories may impede the market growth. Setting up a QC process in a clinical laboratory requires significant investments. Laboratories also need to maintain dedicated personnel to manage the QC system. Moreover, QC procedures incur similar costs, regardless of the volume of tests performed. Hence, the cost of adopting QC procedures is very high for clinical laboratories working with low volumes of diagnostic tests. This, coupled with budgetary constraints in many hospitals and laboratories in developed and developing economies, is expected to result in the lower adoption of QC practices.

Global Molecular Quality Controls Market Segmental Overview

The report analyses the global molecular quality controls market based on product type, analyte type, application, end-use, and region.

Global Molecular Quality Controls Market by Product Type

Based on product type, it is segmented into independent and instrument specific. Among these, in 2021, The Independent control segment accounted for the largest share of the molecular quality control market. The increasing number of accredited laboratories and mandates for the use of quality controls from regulatory bodies to ensure the accuracy of diagnostic test results are driving the growth of the molecular quality control products market.

Global Molecular Quality Controls Market by Analyte Type

Based on analyte type, it is segmented into single analyte, and multi-analyte. Single-analyte controls dominated the molecular quality controls market in 2020 due to the significant use of singleplex assays in hospitals and the advantages associated with the use of single-analyte controls, such as simple analysis & interpretation and low risk of cross-reactivity.

Global Molecular Quality Controls Market by Application

Based on application, it is segmented into oncology, infectious disease, blood screening, genetic testing, and others. Among them, in 2021, oncology is estimated to account for the largest share of the molecular quality controls market by application. With regards to application, the molecular quality controls market from the oncology segment is expected to gain rapid traction by 2028. Proliferating research efforts on cancer and associated biomarkers is a major driver behind this growth. For example, research presented at an annual meeting of the European Society of Medical Oncology estimates that cancer incidence will increase by almost 21% between 2020 and 2040. Furthermore, efforts related to biomarker discovery are also growing rapidly, such as Roche’s introduction of the AVENIO Tumor Tissue CGP Kit in October 2021, designed to help labs expand in-house oncology research.

Global Molecular Quality Controls Market by End-use

Based on end-use, it is segmented into clinical and research laboratories, blood centers, hospitals, IVD manufacturers, academic & research institutes, and others. The clinical and research laboratories segment accounted for the largest share of the molecular quality control market in 2021, increasing number of accredited diagnostic laboratories to provide growth opportunities in the coming years. Also, diagnostic lab well equipped with advanced instrument and provide quality of treatment at lower cost. Such factors will boost the segmental growth over the forecast period.

Geographical Analysis of Global Molecular Quality Controls Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for significant revenue size in 2021. North America was the largest regional market for molecular quality controls due to the developed healthcare system in the U.S. and Canada, the presence of many leading molecular quality control product manufacturers in the region, and the easy accessibility to technologically advanced products in the region. Moreover, due to ongoing pandemic physician focusing towards provide quality of treatment along with growing demand for quality of testing in U.S. will augment the regional market growth.

Major Players in the Global Molecular Quality Controls Market

The key players in the market are F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific, Inc. (US), Randox Laboratories Ltd. (UK), LGC Limited (UK), Abbott Laboratories (US), Fortress Diagnostics (UK), SERO AS (Norway), Anchor Molecular (US), Ortho-Clinical Diagnostics, Inc. (US), Quidel Corporation (US), Sun Diagnostics, LLC (US), and Seegene Inc. (South Korea) among others.

COVID-19 Impact

The onset of the novel coronavirus outbreak has created unprecedented disruptions across the globe. While this disruptive force has created upheavals for many industrial sectors, the molecular quality controls market could flourish significantly during the pandemic, as clinical laboratories and diagnostic manufacturers make efforts to address the growing demand for testing solutions, which are considered essential aspects of COVID-19 disease management. To that end, ZeptoMetrix announced the addition of another important molecular quality control to its vast Infectious Disease NATtrol™ Quality Controls line. Dubbed the SARS-CoV-2 Variant Panel, the solution includes four individual, separate vials of each of the variants, Alpha, Beta, Gamma, and Delta. Developments such as these could contribute to the growing demand for molecular quality control solutions over the foreseeable future.

Recent Developments
  • In February 2022, ZeptoMetrix® launched new ready-to-use SARS-CoV-2 omicron variant molecular quality controls.
  • In October 2021, Roche introduced the AVENIO Tumor Tissue CGP Kit, designed to help labs expand in-house oncology research.
  • In June 2021, SeraCare partnered with the International Quality Network for Pathology (IQN Path) (Luxembourg) to develop, manufacture, and supply a range of highly characterized cell line genomic DNA and formalin-fixed, paraffin-embedded (FFPE) standards with confirmed low, mid, and high levels of mutational burden within their exome regions
  • In May 2021, Bio-Rad entered a global partnership with Roche Diagnostics (Switzerland) to provide its customers access to a complete line of InteliQ products and Unity QC data management solutions along with customer training and support services.
  • In January 2020, Abbott Laboratories invested USD 2.4 billion in R&D, of which USD 10.80 billion was invested in developing technologically advanced diagnostic products to strengthen its product portfolio.
Frequently Asked Questions

Q1. How big is the orthopedic braces & supports market?

Ans. The global molecular quality controls market size was USD 164.0 million in 2021 and is anticipated to reach USD 311.4 million in 2031, growing at a rate of 6.6 % from 2022 to 2031.

Q2. What is the molecular quality controls market growth rate?

Ans. The growth rate of the molecular quality controls market is 6.6%.

Q3. Which region holds a major market share for the molecular quality controls market?

Ans. North America holds a major market share of the molecular quality controls market in 2021.

Q4. Which segment accounted for the largest molecular quality controls market share?

Ans. By end user, the healthcare segment accounted for the largest molecular quality controls market share.

Q5. Who are the key players in the molecular quality controls market?

Ans. The global molecular quality controls market report includes players such as F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific, Inc. (US), Randox Laboratories Ltd. (UK), LGC Limited (UK), Abbott Laboratories (US), Fortress Diagnostics (UK), SERO AS (Norway), Anchor Molecular (US), Ortho-Clinical Diagnostics, Inc. (US), Quidel Corporation (US), Sun Diagnostics, LLC (US), and Seegene Inc. (South Korea), among others.

Q6. What are the factors driving the molecular quality controls market growth?

Ans. The major factors driving the growth of the market are the rising adoption of third-party quality controls, increasing number of accredited clinical laboratories, and the rising demand for external quality assessment support.

Q7. What are the key growth strategies of molecular quality controls market players?

Ans. The key growth strategies of molecular quality controls market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the molecular quality controls market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the molecular quality controls market during the forecast period.

 

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Lung Cancer Therapeutics Market
September, 2022

The global lung cancer therapeutics market was valued at USD 18.3 billion in 2021 and it is anticipated to grow further till USD 74.1 billion by 2031, at a CAGR of 15.0% during the forecast period.

The uncontrolled proliferation of cells in the lung tissues causes lung cancer, a deadly lung tumor. The main risk factor for lung cancer development is cigarette smoking. Lung cancer can also be brought on by smoking tobacco for a long time. Using bronchoscopy or CT guidance, a biopsy is performed to confirm the diagnosis of lung cancer. Therefore, chemotherapy, radiation, immunotherapy, surgery, etc. can all be used to treat lung cancer.

Global Lung Cancer Therapeutics Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$ 18.3 Bn
Market Size in 2031$ 74.1 Bn
Growth Rate (2021-31)15.0%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredTherapy, Cancer Type, Distribution Channel, and Region
Key CompaniesGenentech (F. Hoffmann-La Roche Ltd), Eli Lilly and Company, Celgene Corporation, AstraZeneca, Pfizer Inc., Sanofi, Novartis AG, Astellas, Bristol Myers Squibb, Boehringer Ingelheim Pharmaceuticals, Inc., Millennium Pharmaceuticals, Inc. (Takeda), and Merck Sharp & Dohme Corp. among others.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Rising cancer awareness in both developed and developing countries, the introduction of new medical diagnostic tools and cutting-edge treatments, and an increase in lung cancer diagnoses have all contributed to the market expansion for lung cancer medicines. The expansion of the global market is also being boosted by this, along with rising investments made by leading players in research and development activities. Due to an increase in lung cancer cases, more attention is being paid to R&D projects, which is what is causing the market to alter.

Market Restraints and Challenges

The side effects of drug therapies and the high cost of the therapies have been hindering the growth of the market.

Global Lung Cancer Therapeutics Market Segmental Overview

The report analyses the global lung cancer therapeutics market based on the therapy, cancer type, distribution channel, and region.

Global Lung Cancer Therapeutics Market by Therapy

Based on therapy, it is segmented into targeted therapy, immunotherapy, chemotherapy. The targeted therapy segment is anticipated to dominate the market during the forecast period. The key factors such as increasing R&D advances leading to greater adoption of sophisticated and advanced therapies such as immunotherapy coupled with the increasing prevalence of lung cancer is boosting the growth of the market.

Global Lung Cancer Therapeutics Market by Cancer Type

Based on the cancer type, it is segmented into non-small cell lung cancer and small cell lung cancer. The non-small cell lung cancer segment is anticipated to dominate the market during the forecast period. The increasing prevalence of all types of cancers are prevalent in the general population and lung cancer is one of the most common forms of cancer. The rising prevalence and rising incidence of lung cancer across all demographics and across all age groups have led to increasing demand for lung cancer therapeutics during the forecast period.

Global Lung Cancer Therapeutics Market by Distribution Channel

Based on the distribution channel, it is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others. The hospital pharmacies segment is anticipated to dominate the market during the forecast period. The key factors such as the increasing regulatory approvals and the adoption of advanced therapeutics are boosting the growth of the market.

Geographical Analysis of the Global Lung Cancer Therapeutics Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America and Europe dominated the market during the forecast period. According to lung disease research funding coupled with high incidence rate rise in the aging population coupled with the advent of new treatment therapies such as targeted drug therapy, and stereotactic are boosting the growth of the market.

Major Players in the Global Lung Cancer Therapeutics Market

The key players studied in the report are Genentech (F. Hoffmann-La Roche Ltd), Eli Lilly and Company, Celgene Corporation, AstraZeneca, Pfizer Inc., Sanofi, Novartis AG, Astellas, Bristol Myers Squibb, Boehringer Ingelheim Pharmaceuticals, Inc., Millennium Pharmaceuticals, Inc. (Takeda), and Merck Sharp & Dohme Corp. among others.

COVID-19 Impact

The world is still in danger from the COVID-19 pandemic, especially individuals who already have lung disease. The pandemic has presented many difficulties for people with lung cancer. At the Fifth Affiliated Hospital of Sun Yat-sen University, approximately 95 patients out of 161 had delayed their return visit in April 2020, and 47 cases were finally designated as having delayed admission during the pandemic and having to discontinue or delay their regular anticancer treatments, according to an article published in September 2020 titled “The impact of the COVID-19 pandemic on lung cancer patients.”

Recent Development
  • June 2022, Novartis received approval from European Commission for Tabrecta for the treatment of METex 14 skipping advanced non-small cell lung cancer.
  • April 2022, Astra Zeneca and Daiichi Sankyo received the acceptance of the supplemental Biologics License Application for Enhertu for the treatment of adult patients in the United States with unresectable or metastatic non-small cell lung cancer, by the United States Food and Drug Administration.
  • March 2022, Astra Zeneca, PATH and Qure.ai have formed a new partnership to enhance lung health across low to middle income nations. These three firms will form alliances to develop a framework for early detection of lung cancer in patients that are undergoing chest screening to detect tuberculosis, with the use of advanced artificial intelligence technology.
  • March 2022, Known Medicine, a fast-growing biotechnology vendor focused on discovering effective cancer drugs, has partnered with Duke University to estimate the drug efficacy for patients suffering from lung cancer.
Frequently Asked Questions

Q1. How big is the Lung Cancer Therapeutics market?

Ans. The global Lung Cancer Therapeutics market size was USD 18.3 billion in 2021 and is anticipated to reach USD 74.1 billion in 2031, growing at a rate of 15.0% from 2022 to 2031.

Q2. What is the Lung Cancer Therapeutics market growth rate?

Ans. The growth rate of the Lung Cancer Therapeutics market is 15.0%.

Q3. Which region holds a major market share for the Lung Cancer Therapeutics market?

Ans. North America holds a major market share of the Lung Cancer Therapeutics market in 2021.

Q4. Which segment accounted for the largest Lung Cancer Therapeutics market share?

Ans. By therapy, targeted therapy segment accounted for the largest Lung Cancer Therapeutics market share.

Q5. Who are the key players in the Lung Cancer Therapeutics market?

Ans. The global Lung Cancer Therapeutics market report includes players such as Genentech (F. Hoffmann-La Roche Ltd), Eli Lilly and Company, Celgene Corporation, AstraZeneca, Pfizer Inc., Sanofi, Novartis AG, Astellas, Bristol Myers Squibb, Boehringer Ingelheim Pharmaceuticals, Inc., Millennium Pharmaceuticals, Inc. (Takeda), and Merck Sharp & Dohme Corp. among others.

Q6. What are the factors driving the Lung Cancer Therapeutics market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Lung Cancer Therapeutics market players?

Ans. The key growth strategies of Lung Cancer Therapeutics market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Lung Cancer Therapeutics market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Lung Cancer Therapeutics market during the forecast period.

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Neurovascular Devices/Interventional Neurology Market
September, 2022

The global Neurovascular Devices/Interventional Neurology Market was valued at USD 2.9 billion in 2021 and it is anticipated to grow up to USD 5.4 billion by 2031, at a CAGR of 6.5% during the forecast period.

Neurovascular devices are used to treat neurological disorders. These include coils, stents, and clips that are used to treat neurovascular disorders such as brain aneurysm. These devices are widely used in the treatment and diagnosis of various types of peripheral and central nervous system disorders and ailments. Various neurovascular illnesses, such as cerebral aneurysms and intracranial atherosclerotic disease, are treated with neurovascular implants.

Global Neurovascular Devices/Interventional Neurology Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$2.9 bn
Market Size in 2031$5.4 bn
Growth Rate (2021-31)6.5%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Process,
Therapeutic Application, End-use, and Region
Key CompaniesJohnson & Johnson (US)Medtronic PLC, Stryker Corporation (US), Terumo Corporation (Japan), , Penumbra, Inc. (US), MicroPort Scientific Corporation (China), Kaneka Corp. (Japan), Integer Holdings Corporation, BALT (France), Perflow Medical, and Phenox GmbH (Germany),
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

A rise in the number of neurovascular disorders in the developed countries is expected to boost market growth. An increase in the prevalence of neurological and cerebrovascular conditions such brain aneurysms and ischemic strokes will have a positive impact on market demand. Additionally, the rapidly growing aging population and large population base suffering from ischemic stroke is another major factor driving the market statistics. Another major factor such as rapidly ageing population and large population base suffering from ischemic stroke will drive the industry growth. For instance, according to the American Association of Neurological Surgeons, approximately 700,000 people suffer from stroke each year, with approximately 500,000 of these being first attacks and 200,000 being victims of repeated attacks. Almost a quarter of people who recover from their first stroke will have another within five years. Such a scenario is expected to drive demand for neurovascular devices in the United States.

An ischemic stroke occurs when the blood supply to a part of the brain is cut off. A blood clot that becomes lodged in a narrow blood vessel usually causes the block. The loss of body functions controlled by that area of the brain is caused by the blood clot. To avoid such situations, neurosurgeons employ a variety of neurovascular devices, such as the neurovascular thrombectomy device. This device is useful for removing blood clots that have formed in the neurovascular vessels during an acute ischemic stroke. Such scenarios will drive market trends.

Market Restraints and Challenges

Stringent government regulations for medical device approval may hinders the market progression. Several key neurovascular device manufacturers such as Stryker and Medtronic Plc. have been successful in the development and subsequent commercialization of their respective products during the last decade. These products were primarily intended for interventional use during neurovascular surgeries. However, across the mature markets (particularly in the US), the developmental pipeline for interventional neurology products is affected mainly by pricing pressure faced by the key product manufacturers as a result of unsupportive government reforms undertaken in the last three years. Some of these unsupportive government regulations and reforms include the Patient Protection and Affordable Care Act that was suspended for a two-year period commencing January 1, 2018, got reinstated in 2020. The law imposes a 2.3% excise tax on the sale in the US of certain medical devices by a manufacturer, producer, or importer. Regulatory laws in the US require substantial scientific evidence for clinical trials conducted on human subjects to confirm the safety, efficacy, & risk profile of specific medical devices intended for a particular therapeutic application including for neurovascular intervention.

Global Neurovascular Devices/Interventional Neurology Market Segmental Overview

The report analyses the global Neurovascular Devices/Interventional Neurology Market based on product, process, therapeutic application, end-use, and region.

Global Neurovascular Devices/Interventional Neurology Market by Product

Based on the product, the neurovascular devices market is categorized into embolic protection devices, embolic coils, intracranial stents, intrasaccular devices, catheters, carotid stents, flow diverters, neurothrombectomy devices, balloon systems, stent retrievers, guidewires, and others. Out of these, embolic coils segment accounted for largest market share in 2021 due to the rising prevalence of brain aneurysms and ischemic stroke in developed countries Furthermore, an increase in demand for minimally invasive procedures such as coil embolization will drive future demand for embolic coils. Moreover, in adults who are at high or prohibitive surgical risk, embolization coils and occlusion devices are also used to successfully eliminate the residual central aorta to pulmonary artery. Embolic coiling can also be used to treat a condition known as arteriovenous malformation (AVM). AVMs are abnormal connections between arteries and veins. It can occur in the brain, spinal cord, or anywhere else in the body. As a result, increasing the use of embolic coils will benefit the industry’s growth.

Global Neurovascular Devices/Interventional Neurology Market by Process

By process, the neurovascular devices market is segmented into stenting, neurothrombectomy, cerebral angiography, microsurgical clipping, carotid endarterectomy, coiling, flow diversion and others. Among them, the neurothrombectomy segment accounted significant revenue share in 2021. Blood clots in the cerebral microvasculature are destroyed using neurothrombectomy devices. Because it improves functional outcomes and reduces mortality, neurothrombectomy surgery is the most preferred treatment for acute ischemic stroke. Furthermore, the increasing number of product launches by key players will drive market growth. For example, Medtronic announced the release of the Solitaire X revascularization device in 2019. This device is useful for removing blood clots from the brain. Furthermore, due to the rising incidence of stroke, the use of clot retrievers in elderly patients (aged 55 to 65) has increased. Such scenarios will boost the market growth.

.Global Neurovascular Devices/Interventional Neurology Market by Therapeutic Application

Based on therapeutic applications, the neurovascular devices industry is categorized brain aneurysm, stenosis, ischemic strokes, and others. The brain aneurysm segment accounted for lucrative market share in 2021. This is owing to the rising cases of brain aneurysm in geriatric population. In addition to smoking, high blood pressure, and a family history of aneurysms, there are other significant risk factors for brain aneurysms. There are a number of invasive treatments for this medical problem, including flow diverters and tubular implants resembling stents. By redirecting blood flow away from the aneurysm sac, these neurovascular devices help. The divert encourages arterial reconstruction in the patient and prevents blood flow within the aneurysm, which causes the body to heal the wound. Flow diverters may be useful for treating larger aneurysms that are unsafe to treat using other techniques. Such events will encourage market expansion.

Global Neurovascular Devices/Interventional Neurology Market by End-use

The neurovascular devices market, based on end-use, is segmented into hospitals, ambulatory surgical centers, clinics, and others. The neurovascular devices market, based on end-use, is segmented into hospitals, ambulatory surgical centers, clinics, and others. hospitals and imaging centers segment is expected to grow with the highest CAGR during the forecast period due to the increased awareness about nuclear medicine therapies, increased investment in research and development of nuclear imaging equipment, increased number of diagnostic institutions, and high volume of nuclear imaging procedure. Similarly, presence of skilled healthcare professionals in hospitals to accurately treat and diagnose patient’s surge the demand of medical imaging in hospitals. Additionally, rising cases of chronic diseases and increasing number of admissions in hospitals will further accelerate the nuclear imaging equipment market progression.

Geographical Analysis of Global Neurovascular Devices/Interventional Neurology Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America neurovascular devices market captured significant market share in 2021 and is poised to grow substantially during the forthcoming years. The high regional growth is attributed to an increase in the prevalence of ischemic strokes as well as an increase in the number of surgeries. Furthermore, increased funding for advanced healthcare research, rising per capita healthcare expenditure, and the implementation of favourable reimbursement policies will boost regional market statistics. Furthermore, the region is witnessing several industry hospital collaborations, and the presence of major players in this industry leads to easy availability of neurovascular devices. The aforementioned factors promote regional industry expansion.

Major Players in the Global Neurovascular Devices/Interventional Neurology Market

The key players in the market Johnson & Johnson (US)Medtronic PLC, Stryker Corporation (US), Terumo Corporation (Japan), , Penumbra, Inc. (US), MicroPort Scientific Corporation (China), Kaneka Corp. (Japan), Integer Holdings Corporation, BALT (France), Perflow Medical, and Phenox GmbH (Germany), among others.

COVID-19 Impact

The COVID-19 pandemic has moderate impact on the market. During the pandemic, the vast majority of elective brain surgeries were postponed to make room for people being treated for the virus. Furthermore, as hospitals postponed elective admissions and treatments, hospital admissions began to fall in March 2020. In addition, physicians’ focus has shifted from in-person care to telemedicine, and many people have put off seeking medical help.

Recent Developments
  • In July 2022, Boston Scientific launches Neuroform EZ™ Stent System in U.S. and Europe. Company expands market-leading family of neurovascular stents.
  • In July 2021, Terumo Medical Corporation (TMC) announced the launch of AZUR Vascular Plug. It is the first and only plug compatible with a microcatheter to occlude arteries up to 8mm in diameter. Such advanced product launches helped company in strengthening its market position.
  • In January 2021, Penumbra partnered with Genesis MedTech to expand the neurovascular market in China.
  • In October 2020, Johnson & Johnson launched Cerenovus Stroke Solutions, which includes a suite of three devices designed to aid physicians in clot removal procedures. The devices include the Cerenovus Large Bore Catheter, Cerebase DA Guide Sheath, and Embotrap III Revascularization Device
  • In December 2020, MicroPort Scientific Corporation, received China’s National Medical Products Administration (NMPA) a registration certificate for Bridge Vertebral Drug-Eluting Stent for the treatment of symptomatic vertebral artery stenosis. This product launch helped the company in enhancing its overall product range.
Frequently Asked Questions

Q1. How big is the Neurovascular Devices/Interventional Neurology Market?

Ans. The global Neurovascular Devices/Interventional Neurology Market size was USD 2.9 billion in 2021 and is anticipated to reach USD 5.4 billion in 2031, growing at a rate of 6.5% from 2022 to 2031.

Q2. What is the Neurovascular Devices/Interventional Neurology Market growth rate?

Ans. The growth rate of the Neurovascular Devices/Interventional Neurology Market is 6.5%.

Q3. Which region holds a major market share for the market?

Ans. North America holds a major market share of the Neurovascular Devices/Interventional Neurology Market in 2021.

Q4. Which segment accounted for the largest Neurovascular Devices/Interventional Neurology Market share?

Ans. By end user, the healthcare segment accounted for the largest Neurovascular Devices/Interventional Neurology Market share.

Q5. Who are the key players in the Neurovascular Devices/Interventional Neurology Market?

Ans. The global Neurovascular Devices/Interventional Neurology Market report includes players such as Johnson & Johnson (US)Medtronic PLC, Stryker Corporation (US), Terumo Corporation (Japan), , Penumbra, Inc. (US), MicroPort Scientific Corporation (China), Kaneka Corp. (Japan), Integer Holdings Corporation, BALT (France), Perflow Medical, Phenox GmbH (Germany), among others.

Q6. What are the factors driving the Neurovascular Devices/Interventional Neurology Market growth?

Ans. The major factors driving the growth of the market are the increasing demand for optical imaging across the globe

Q7. What are the key growth strategies of Neurovascular Devices/Interventional Neurology Market players?

Ans. The key growth strategies of Neurovascular Devices/Interventional Neurology Market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Neurovascular Devices/Interventional Neurology Market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Neurovascular Devices/Interventional Neurology Market during the forecast period.

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Needle-Free Injection System Market
September, 2022

The global needle-free injection system market was valued at USD 124.4 million in 2021 and it is anticipated to grow up to USD 596.9 million by 2031, at a CAGR of 17.0% during the forecast period.

Needle-free injection systems are used to administer liquid formulations, drugs, and vaccines into patients without piercing the skin with a conventional needle. The demand for these systems has increased considerably in the recent years as they improve immune response to vaccines, eliminate risks of needles, and reduce healthcare costs.

Global Needle-Free Injection System Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$124.4 mn
Market Size in 2031$596.9 mn
Growth Rate (2021-31)17.0%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Technology, Application, End-use, and Region.
Key CompaniesPharmaJet (US), Portal Instruments (US), Medical International Technology, Inc (MIT) (US), NuGen Medical Devices (Canada), Crossject SA (US), Antares Pharma, 3M, Injex Pharma AG, and INVIO Pharmaceutical Inc.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

High prevalence of infectious diseases globally will fuel the market growth. Despite significant improvements in sanitation and medicine, the global prevalence of infectious diseases is still high. Although non-communicable diseases are the leading causes of morbidity and mortality, infectious diseases remain a major public health concern globally. According to the National Institute of Allergy and Infectious Diseases (NIAID), annually, infectious diseases claim more than 15 million lives globally. In 2019, according to the World Malaria Report by the World Health Organization (WHO), 229 million cases of malaria occurred worldwide. The WHO African Region, with an estimated 215 million malaria cases in 2019, accounted for about 94% of the malaria cases. Similarly, as per the WHO 2021 data, there were an estimated 37.7 million people living with HIV at the end of 2020, over two-thirds of whom (25.4 million) are in the WHO African Region. The growing prevalence of chronic diseases has resulted in a significant increase in demand for biologics (large-molecule drugs). Most large-molecule drugs are administered through injectable.

Market Restraints and Challenges

Higher cost of development as compared to conventional injection systems may impede the industry growth. The overall development cost of a needle-free injection system is relatively higher due to the additional associated costs such as high infrastructural and labor costs. Development costs also increase due to the complexity of these devices. High investments in development result in a high cost of units, which decreases the adoption of these devices by patients. Sterilizable needles and conventional needle injections are the most affordable options at USD 5 to 15 for 1,000 injections. However, needle-free injections require very high initial investments and are likely to be more expensive as manufacturers are required to spend more on the production standard and quality control of the devices. The starter kits for needle-free injections themselves cost around USD 165 for AdvantaJet, USD 260 for Injex 30, and USD 300 for Medi-Jector. Owing to these high costs, affordability becomes a major issue for needle-free injection devices as compared to conventional needle injections. In addition to this, meeting all the standards and specifications makes the manufacturing process costlier than traditional injections.

Global Needle-Free Injection System Market Segmental Overview

The report analyses the global needle-free injection system market based on product, technology, application, end-use, and region.

Global Needle-Free Injection System Market by Product

Based on product, it is segmented into fillable needle-free injectors and prefilled needle-free injectors. Among these, in 2021, the fillable needle-free injectors accounted for the larger share of the needle-free injection system market. The large share of this segment can be attributed to the increasing application of needle-free injections in vaccination, insulin, and other drug delivery.

Global Needle-Free Injection System Market by Technology

Based on technology, it is segmented into jet-based needle-free injectors, spring-based needle-free injectors, and micro array patch injectors. Among them, in 2021, the jet-based needle-free injectors segment is expected to command the largest share of the global needle-free injection system devices market by technology. The large share of this segment can be attributed to benefits associated with this technology, including rapid drug administration, improved dosage accuracy, better diffusion into the tissue, and a faster response rate. For instance, NFII is a needle-free drug delivery method in which a high-speed stream of fluid impacts the skin and delivers a drug13 excluding vaccines and systemically absorbed medications like insulin.

Global Needle-Free Injection System Market by Application

Based on application, it is segmented into vaccine delivery, insulin delivery, oncology, pain management, dermatology and others. Among them, in 2021, vaccine delivery is estimated to account for the largest share of 32.8% of the needle-free injection system market by application. The rising prevalence of chronic diseases and infectious diseases worldwide has increased the demand for vaccination in the considered year and the increasing demand for patient-centric care are the major factors driving the growth of the needle-free injection market by application.

Global Needle-Free Injection System Market by End-use

Based on end-use, it is segmented into hospitals, home care settings, research laboratories, pharmaceutical and biotechnological companies and others. The hospitals & clinics segment accounted for the largest market share of 61.0% in 2020. Factors such as technological advancements and an increase in demand for vaccination are driving the growth of the hospitals & clinics segment. Other factors such as the need to improve the efficiency of diagnostic and the rising number of hospital admission will propel the market growth.

Geographical Analysis of Global Needle-Free Injection System Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for significant revenue size in 2021. High awareness regarding potential benefits of needle-free drug delivery devices has supported the dominance of the region in the global arena. Moreover, presence of well-developed healthcare facilities and extensive R&D expenditure by government organizations and pharmaceutical companies for diabetes and chronic pain management are also contributing to the growth of the market.

Major Players in the Global Needle-Free Injection System Market

The key players in the market are PharmaJet (US), Portal Instruments (US), Medical International Technology, Inc (MIT) (US), NuGen Medical Devices (Canada), Crossject SA (US), Antares Pharma, 3M, Injex Pharma AG, and INVIO Pharmaceutical Inc. among others.

COVID-19 Impact

The needle-free injection system market has been positively impacted by the COVID-19 pandemic, as the need for mass vaccination needs and self-injectable devices has been the focus since the inception of the pandemic outbreak in December 2019. As the number of cases has increased across regions, most of the major needle-free injection system market players have invested in R&D and have entered into partnerships and agreements with other industry players and government agencies to develop a needle-free injection system for the disease.

About 6.8 billion COVID-19 vaccinations have been administered globally, almost double the number of routine vaccines, compared to the total manufacturing capacity of about 6 billion immunization syringes a year. As per the WHO, there could be a shortage of one to two billion syringes needed to administer COVID-19 vaccinations in 2022, which could also impact routine immunizations and undermine needle safety. This has resulted in multiple product investments and research of COVID-19 vaccine delivery devices, with surplus production and distribution of these devices across regions to serve the rising demand. Also, the increasing incidence of communicable diseases due to needlestick injuries, difficulties in vaccine storage, and needle phobia have led to their high uptake and acceptance, especially for the screening for vaccination and insulin delivery.

Recent Developments
  • In March 2022, NovaXS Biotech launch injection therapy needle-free such as NovaXS Biotech wants to make injection therapy needle-free.
  • In December 2021, PharmaJet partner, Nykode Therapeutics announces phase 1/2 clinical trial with next-generation DNA-based COVID-19 vaccine candidates.
  • In August 2021, PharmaJet partner Zydus Cadila announced Emergency Use Authorization approval for worlds first plasmid DNA COVID-19 vaccine deliver via needle-free injection.
  • In May 2021, Enesi pharma achieves key milestone in development of thermostable solid-dose live vaccines against Measles and Rubella and soon entering into clinical trials.
  • In October 2020, the University of Cambridge’s study of DIOSynVax’s candidate was chosen to use PharmaJet’s Needleless vaccine injector to inject one of the COVID-19 vaccines. The vaccine was aimed to be delivered via skin without the use of needles.
Frequently Asked Questions

Q1. How big is the orthopedic braces & supports market?

Ans. The global needle-free injection system market size was USD 124.4 billion in 2021 and is anticipated to reach USD 569.9 billion in 2031, growing at a rate of 17.0% from 2022 to 2031.

Q2. What is the needle-free injection system market growth rate?

Ans. The growth rate of the needle-free injection system market is 17.0%.

Q3. Which region holds a major market share for the needle-free injection system market?

Ans. North America holds a major market share of the needle-free injection system market in 2021.

Q4. Which segment accounted for the largest needle-free injection system market share?

Ans. By end user, the healthcare segment accounted for the largest needle-free injection system market share.

Q5. Who are the key players in the needle-free injection system market?

Ans. The global needle-free injection system market report includes players such as PharmaJet (US), Portal Instruments (US), Medical International Technology, Inc (MIT) (US), NuGen Medical Devices (Canada), Crossject SA (US), Antares Pharma, 3M, Injex Pharma AG, and INVIO Pharmaceutical Inc. among others.

Q6. What are the factors driving the needle-free injection system market growth?

Ans. The major factors driving the growth of the market are the rising demand for needle free vaccine due to COVID-19 pandemic across the globe.

Q7. What are the key growth strategies of needle-free injection system market players?

Ans. The key growth strategies of needle-free injection system market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the needle-free injection system market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the needle-free injection system market during the forecast period.

 

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Liquid Biopsy Market
September, 2022

The liquid biopsy market was valued at USD 2.6 billion in 2021, and it is anticipated to grow further till USD 13.4 billion by 2031, at a CAGR of 17.8% during the forecast period.

Liquid biopsy is an easy, quick, non-invasive, and repeatable sampling technique that can reflect changes in tumor gene expression profiles and offer a solid foundation for a customized treatment and cancer early detection. The focus in recent years has also been on early cancer detection, tracking the development of tumors, evaluating therapy response and clinical prognosis, and identifying recurrent and refractory cancers. Furthermore, due to technological advancements in both practicality and turnaround time, liquid biopsy has recently attracted a lot of attention as a non-invasive substitute procedure for tissue biopsy in patients with cancer.

Global Liquid Biopsy Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$ 2.6 Bn
Market Size in 2031$ 13.4 Bn
Growth Rate (2021-31)17.8%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct & Service, Circulating Biomarker, Cancer Type, and Region
Key CompaniesF. Hoffmann-La Roche Ltd. (Switzerland), Myriad Genetics, Inc. (US), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific, Inc. (US), Guardant Health, Inc. (US), MDxHealth SA (Belgium), Exact Sciences Corporation (US), Illumina Inc. (US), Sysmex Inostics (US), Bio-Rad Laboratories, Inc. (US), Biocept, Inc. (US), NeoGenomics, Inc. (US), ANGLE plc (UK), Menarini-Silicon Biosystems (Italy), and Vortex Biosciences, Inc. (US) among others.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

The number of persons who have cancer has significantly increased on a global scale. Environmental factors, cigarette use, infectious diseases like Hepatitis B and C, as well as lifestyle changes, are some of the causes of the increased incidence of cancer. Cancer is the second-leading cause of mortality worldwide, according to the WHO. According to estimates from the International Agency for Research on Cancer (IARC), there would be 19.3 million new cases of cancer and 9.96 million cancer-related deaths worldwide in 2020. Compared to conventional cancer diagnostic methods, liquid biopsy has various advantages, including lower cost, early prognosis, therapy monitoring, tumour heterogeneity identification, acquired drug resistance, and patient comfort (by eliminating the need for surgery).

Market Restraints and Challenges

The quantities of ctDNA of any particular cancer mutation may be very low in the plasma of a cancer patient, especially after treatment or surgery, making the detection of ctDNA in liquid biopsies technically difficult. According to sampling statistics, there may be fewer than one detectable copy of the cancer mutation-containing ctDNA in any one patient’s plasma sample. As a result, even though ctDNA is present in the plasma but at a low level, it might not be picked up in the patient sample. This affects the informative value of the liquid biopsy tests for cancer by producing false-negative results where ctDNA is present but not identified.

Global Liquid Biopsy Market Segmental Overview

The report analyses the global liquid biopsy market based on the product & service, circulating biomarker, cancer type, and region.

Global Liquid Biopsy Market by Product & Service

Based on the product & services, it is segmented into kits & reagents, platforms & instruments, and services. The platforms & instruments segment is anticipated to dominate the market during the forecast period. Due to a significant amount of ongoing platform and instrument development, research, and approvals in 2020. A high-performance, exome-scale tumor-profiling tool called NeXT Liquid Biopsy, for instance, was introduced by Personalist, Inc. in 20202020. It makes use of blood samples from patients with advanced-stage solid tumor malignancy. Additionally, Guardant Health, Inc. is creating brand-new precision oncology drugs using its massive clinical-genomic liquid biopsy dataset for patients with advanced cancer and its Guardant INFORM platform.

Global Liquid Biopsy Market by Circulating Biomarker

Based on the circulating biomarker, it is segmented into circulating tumor cells, extracellular vesicles, circulating tumor DNA, and others. The circulating tumor cells segment is anticipated to dominate the market during the forecast period. Due to a rise in recent years in the number of clinically necessary tests using genetic studies. Additionally, due to the rapid growth of next-generation sequencing (NGS) technologies in liquid biopsy advancements applied to circulating tumor DNA, circulating tumor DNA is anticipated to be the segment with the fastest rising rate during the projected period (ctDNA).

Global Liquid Biopsy Market by Cancer Type

Based on the cancer type, it is segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, liver cancer, and others. The lung cancer segment is anticipated to dominate the market during the forecast period. Because non-small cell lung cancer is becoming more common worldwide. For instance, according to the World Health Organization, lung cancer will account for the vast majority of cancer-related fatalities worldwide (1.80 million deaths) in 2020. Prostate cancer, which is the most common type of cancer and the second largest cause of death in North America, is also anticipated to experience the fastest growth during the projected period.

Geographical Analysis of the Global Liquid Biopsy Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. The expansion of the liquid biopsy market in North America is supported by the region’s high cancer prevalence and widespread use of innovative liquid-biopsy diagnostics. However, over the analysis period, Asia-Pacific is anticipated to have the greatest CAGR. This is explained by an increase in disposable income, government measures to improve the healthcare system, and an increase in healthcare costs. Additionally, partnerships and strategic approvals with top industry players to advance liquid biopsy technology in this area are anticipated to promote market expansion.

Major Players in the Global Liquid Biopsy Market

The key players studied in the report are F. Hoffmann-La Roche Ltd. (Switzerland), Myriad Genetics, Inc. (US), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific, Inc. (US), Guardant Health, Inc. (US), MDxHealth SA (Belgium), Exact Sciences Corporation (US), Illumina Inc. (US), Sysmex Inostics (US), Bio-Rad Laboratories, Inc. (US), Biocept, Inc. (US), NeoGenomics, Inc. (US), ANGLE plc (UK), Menarini-Silicon Biosystems (Italy), and Vortex Biosciences, Inc. (US) among others.

COVID-19 Impact

Although COVID-19’s far-reaching consequences have been unprecedented, cancer sufferers have been among the most severely impacted groups. The number of patients getting cancer screening, diagnosis, and treatment has been significantly impacted by COVID-19. Oncology clinics were re-profiled for treating patients with the COVID-19 as a result of the increasing demand brought on by the rising rate of COVID-19 patients being hospitalized. As a result, a study found that numerous diagnostic and therapeutic operations, including up to 2.3 million cancer surgeries, have been shelved or delayed globally.

However, as nations gradually loosen their travel restrictions, testing numbers are expected to increase again. Responding to rising cancer incidence has become a critical medical concern on a global scale since the COVID-19 pandemic. Cancer has been recognized as a risk factor for COVID-19 due to the fact that several COVID-19 patients had malignancies. It is predicted that additional research in this area would advance cancer research by helping to better understand the dynamics of infection. It is also anticipated that this will increase demand for liquid biopsy products.

Recent Developments
  • June 2021, Biocept Inc., and Quest Diagnostics collaborated to develop an advanced NGS testing technology especially for the lung cancer patients.
  • June 2021, Guardant Health Inc., launched its Guardant 360 Response test that detects changes in circulating tumor DNA levels.
  • October 2020, F. Hoffmann-La Roche Ltd., received the US FDA approval of expanded claims for the cobas EGFR Mutation Test v2 to be used as a companion diagnostic for a broader group of therapies to treat non-small cell lung cancer.
  • March 2020, Biocept, Inc., entered into an agreement with a second California-based independent physician association to provide its Target Selector liquid biopsy assay services to physicians and patients in the network.
Frequently Asked Questions

Q1. How big is the Liquid Biopsy market?

Ans. The global Liquid Biopsy market size was USD 2.6 billion in 2021 and is anticipated to reach USD 13.4 billion in 2031, growing at a rate of 17.8% from 2022 to 2031.

Q2. What is the Liquid Biopsy market growth rate?

Ans. The growth rate of the Liquid Biopsy market is 17.8%.

Q3. Which region holds a major market share for the Liquid Biopsy market?

Ans. North America holds a major market share of the Liquid Biopsy market in 2021.

Q4. Which segment accounted for the largest Liquid Biopsy market share?

Ans. By product & service, kits & reagents segment accounted for the largest Liquid Biopsy market share.

Q5. Who are the key players in the Liquid Biopsy market?

Ans. The global Liquid Biopsy market report includes players such as F. Hoffmann-La Roche Ltd. (Switzerland), Myriad Genetics, Inc. (US), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific, Inc. (US), Guardant Health, Inc. (US), MDxHealth SA (Belgium), Exact Sciences Corporation (US), Illumina Inc. (US), Sysmex Inostics (US), Bio-Rad Laboratories, Inc. (US), Biocept, Inc. (US), NeoGenomics, Inc. (US), ANGLE plc (UK), Menarini-Silicon Biosystems (Italy), and Vortex Biosciences, Inc. (US) among others.

Q6. What are the factors driving the Liquid Biopsy market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Liquid Biopsy market players?

Ans. The key growth strategies of Liquid Biopsy market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Liquid Biopsy market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Liquid Biopsy market during the forecast period.

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Leukapheresis Market
September, 2022

The global leukapheresis market was valued at USD 62 million in 2021 and it is anticipated to grow further till USD 136 million by 2031, at a CAGR of 8.2% during the forecast period.

The method of leukapheresis is used to remove white blood cells from a blood sample. It is done to lower the number of elevated white blood cells, to gain cells for different types of research, and to collect autologous blood cells for transplanting back into the patient. Leukapheresis is a form of apheresis that removes a component of blood and then reincorporates the remaining blood into circulation. White blood cells are isolated during chemotherapy in order to protect them from potential harm from the high dosage of chemotherapy medications. They are then returned to the patient’s body.

Global Leukapheresis Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$ 62 Mn
Market Size in 2031$ 136 Mn
Growth Rate (2021-31)8.2%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Application, End Use, and Region
Key CompaniesFresenius, Asahi Kasei Medical, Haemonetics, STEMCELL Technologies, Terumo BCT, Macopharma, HemaCare, Caltag Medsystem, StemExpress, Key Biologics LLC, ZenBio Inc, Digital Pharmacist Inc, BioIVT, Precision for Medicine Inc, and Lmb Technologie GmbH among others.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Leukemia incidence has drastically increased across the globe. The American Cancer Society predicts that there will be 61,090 new cases of leukemia in the US in 2021. In addition, it is predicted that leukemia would be responsible for 23,660 fatalities in the US in 2021. Between 2008 and 2020, the incidence rate of leukemia in children increased by 1% year. It is logical to assume that the increased prevalence of hyper leukocytic leukemia will increase the need for therapeutic leukapheresis operations in the next years and support the expansion of the leukapheresis market.

Despite its therapeutic benefits, leukapheresis is still not widely used as a treatment, especially for hyper leukocytic leukemia. But industry participants are starting to pay more attention to how therapeutic leukapheresis is used to treat pediatric patients. The risks and side effects of conventional treatments, such as chemotherapy for children, can be primarily blamed for this. Children’s stem cells can be obtained through leukapheresis and utilized to treat or remove extra WBCs in patients with juvenile lymphoma or other cancers. Given that so few hospitals now offer leukapheresis treatment for children in both established and emerging economies, leukapheresis is an area of focus in this market due to the potential and benefits it offers in this application.

Market Restraints and Challenges

Apheresis equipment typically costs between 20,000 and 150,000 dollars. Smaller hospitals and blood banks therefore avoid using this method of blood collection. Furthermore, for efficient therapy and the collection/removal of WBCs via apheresis, trained and skilled physicians, personnel, and nurses are also needed. Leukapheresis is an expensive technology for short-term use due to all of these issues. Similar to this, leukapheresis at hospitals and cancer treatment facilities has a very high cost because it requires extra disposables, which can cost between USD 1,500 and 3,000 for each patient. As a result, relatively few small blood banks, research institutions, and hospitals have adopted leukapheresis and leukoplakia, which will limit the growth of the leukapheresis market throughout the course of the projected period.

Global Leukapheresis Market Segmental Overview

The report analyses the global leukapheresis market based on the type, application, end users, and region.

Global Leukapheresis Market by Type

Based on the type, it is segmented into leukapheresis devices, apheresis devices, leukoreduction filters, leukapheresis columns & cell separators. The leukapheresis device segment is anticipated to dominate the market during the forecast period. White blood cells (leukocytes) are separated from whole blood using leukapheresis equipment. Leukoreduced blood cell products, such as leukoreduced plasma and leukoreduced RBCs, are also created using these instruments. The rise in therapeutic leukapheresis procedures used to treat inflammatory bowel illnesses, immune-mediated inflammatory diseases, and leukemia is mostly responsible for the market expansion for leukapheresis equipment. Another important element driving market expansion is the blood collection facilities’ growing adoption of leukapheresis equipment.

Global Leukapheresis Market by Application

Based on the application, it is segmented into research applications and therapeutic applications. The research application segment is anticipated to dominate the market during the forecast period. The significant market share of this sector is related to the growing use of leukapheresis products in the research and development of cell-based immunotherapies, as well as to the growing number of clinical studies using leukomas as a primary raw material.

Global Leukapheresis Market by End Users

Based on the end users, it is segmented into blood component providers & blood centers, academic & research institutes, pharmaceutical & biotechnology companies, hospitals & transfusion centers. The blood component providers & blood centers segment is anticipated to dominate the market during the forecast period. The rising amount of blood donations, the rising need for leukomas for the creation of CAR T-cell treatments, and the rising need for blood components in medical illnesses like cancer are all responsible for the large share of this market.

Geographical Analysis of the Global Leukapheresis Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is anticipated to dominate the market during the forecast period. Due to factors including an aging population, a rise in leukemia prevalence, improved healthcare infrastructure, an increase in clinical trials in China, and rising public and private investments for the development of CAR-T therapy, emerging markets in the Asia Pacific region have become significant growth hotspots in the market.

Major Players in the Global Leukapheresis Market

The key players studied in the report are Fresenius, Asahi Kasei Medical, Haemonetics, STEMCELL Technologies, Terumo BCT, Macopharma, HemaCare, Caltag Medsystem, StemExpress, Key Biologics LLC, ZenBio Inc, Digital Pharmacist Inc, BioIVT, Precision for Medicine Inc, and Lmb Technologie GmbH among others.

Recent Development
  • September 2020, All Cells, LLC added cryopreserved leukoplakia to its product portfolio to ensure access to high-quality primary cells without potential delivery delays.
  • June 2020, Haemonetics Corporation announced an agreement to sell its Fajardo, Puerto Rico manufacturing operations of blood filters to GVS S.p.A.
  • June 2020, Stem Express, LLC. Added frozen leukopaks, LE00 (2.5C, 5C, 10C), which are frozen after fresh blood collection and provide an enriched source of peripheral blood mononuclear cells for medical research.
  • January 2020, Fresenius Kabi inaugurated the expansion of its transfusion and apheresis disposables plant in the Dominican Republic in Santa Domingo.
  • February 2019, Terumo BCT, Inc. expanded its global footprint by opening its first regional office in sub-Saharan Africa, in Nairobi, Kenya.
Frequently Asked Questions

Q1. How big is the Leukapheresis market?

Ans. The global Leukapheresis market size was USD 62 Million in 2021 and is anticipated to reach USD 136.5 Million in 2031, growing at a rate of 8.2% from 2022 to 2031.

Q2. What is the Leukapheresis market growth rate?

Ans. The growth rate of the Leukapheresis market is 8.2%.

Q3. Which region holds a major market share for the Leukapheresis market?

Ans. North America holds a major market share of the Leukapheresis market in 2021.

Q4. Which segment accounted for the largest Leukapheresis market share?

Ans. By product, leukapheresis devices segment accounted for the largest Leukapheresis market share.

Q5. Who are the key players in the Leukapheresis market?

Ans. The global Leukapheresis market report includes players such as Fresenius, Asahi Kasei Medical, Haemonetics, STEMCELL Technologies, Terumo BCT, Macopharma, HemaCare, Caltag Medsystem, StemExpress, Key Biologics LLC, ZenBio Inc, Digital Pharmacist Inc, BioIVT, Precision for Medicine Inc, and Lmb Technologie GmbH among others.

Q6. What are the factors driving the Leukapheresis market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Leukapheresis market players?

Ans. The key growth strategies of Leukapheresis market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Leukapheresis market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Leukapheresis market during the forecast period.

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Nuclear Imaging Equipment Market
August, 2022

The global nuclear imaging equipment market was valued at USD 2.9 billion in 2021 and it is anticipated to grow up to USD 5.2 billion by 2031, at a CAGR of 6.1% during the forecast period.

Nuclear imaging system basically involves the use of radioactive substances or tracers for the treatment of diseases. The radioactive substances are injected orally or intravenously and the imaging systems records the radiations emitted by these substances to create images of organs inside the human body. These generated images help the physician in better detection and diagnosis of the illness. The emergence of healthcare cum technology devices have addressed the increasing needs for better diagnostics. The technologically advanced imaging systems has surmounted the conventional systems in terms of precise and accurate images.

Global Nuclear Imaging Equipment Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$2.9 bn
Market Size in 2031$5.2 bn
Growth Rate (2021-31)6.1%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Application, End-use, and region.
Key CompaniesSiemens Healthineers (Germany), GE Healthcare (US), Koninklijke Philips (Netherlands), Digirad Corporation (US), Neusoft Medical Systems Co., Ltd (US), Canon Medical Systems Corporation (Japan), SurgicEye GmbH (Germany), DDD-Diagnostic A/S (Denmark), CMR Naviscan Corporation (US), and Mediso Ltd. (Hungary)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Shift from standalone to hybrid modalities will drive the market growth. With technological advancements in the field of imaging, there has been a significant evolution of hybrid systems in the past decade. The major advancement in this regard is that of combined PET modalities. The innovation of PET/CT modality has been so successful that the major imaging system manufacturers do not provide standalone PET systems any longer. Based on the success of the hybrid PET/CT systems, hybrid PET/MRI and SPECT/CT systems have also gained attention. These hybrid systems can provide precise images with better resolution compared to standalone systems. They can provide morphological as well as physiological information in just one examination. For instance, in the case of skeletal evaluation, a SPECT/CT system offers accurate localization along with improving the specificity of the information provided by CT. Due to advantages such as these, many hospitals are now replacing their standalone systems with hybrid systems. The rising popularity of hybrid modalities is likely to drive the growth of the nuclear imaging equipment market.

Market Restraints and Challenges

High cost of imaging systems may hamper the market growth. Nuclear imaging systems are priced at a premium and require high investments for installations, which increases the procedural cost for patients as well. This affects the adoption rate of new systems, especially in emerging countries; most healthcare facilities in these countries, consequently, cannot afford such systems. In emerging countries like Brazil, the average cost of a PET system is between USD 400,000 and USD 600,000 while a SPECT system would cost between USD 250,000 and USD 400,000. These high costs, coupled with maintenance costs, are expected to hamper the market growth. Healthcare facilities that purchase such costly systems often depend on third-party payers (such as Medicare, Medicaid, or private health insurance plans) to get reimbursements for the costs incurred in the diagnostic, screening, and therapeutic procedures performed using these systems. As a result, factors such as continuous cuts in reimbursements for diagnostic imaging scans and the increasing cost of nuclear imaging systems are preventing medium-sized and small healthcare facilities from investing in technologically advanced nuclear imaging modalities.

Global Nuclear Imaging Equipment Market Segmental Overview

The report analyses the global nuclear imaging equipment market based on product, application, end use, and region.

Global Nuclear Imaging Equipment Market by Product

Based on product, it is segmented into PET, SPECT and Planar Scintigraphy. Among these, PET segment accounted for significant market share in 2021. PET generates computerized images of chemical alteration, such as sugar metabolism, which take place in the tissue. Usually, the patient is given an injection of a combination of sugar and radioactively labeled sugar, radioactive sugar accumulates on the tumor in the body if it is present and can be traced with the help of a scanner.

Global Nuclear Imaging Equipment Market by Application

Based on application, it is segmented into oncology, cardiology, neurology and others. Among them, The oncology application segment is expected to register the highest CAGR during the forecast period. The major factors contributing to the growth of this segment include the rising incidence and prevalence of cancer across the globe, initiatives taken by public and private organizations to curb the rising cancer prevalence, and the development of advanced systems and radiotracers for oncology. Hence aforementioned factors fuel the market growth.

Global Nuclear Imaging Equipment Market by End-use

Based on end-use, it is segmented into Imaging centers, Academic and research institute, Hospitals and Others. The hospital segment accounted for the highest share owing to the factors such as the need to improve the efficiency of diagnostic imaging procedures and the rising number of diagnostic imaging procedures performed in hospitals

Geographical Analysis of Global Nuclear Imaging Equipments Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share in the market. The high growth in this region can be attributed to the increasing incidence of chronic diseases, rising awareness on the benefits of early disease diagnosis, and improvement of healthcare systems in the region. Also, robust, high volume of nuclear medicine procedures, and increased investment in research and development of nuclear imaging equipment. Hence, aforementioned factors will boost the market growth.

Major Players in the Global Nuclear Imaging Equipments Market

The key players in the market are Siemens Healthineers (Germany), GE Healthcare (US), Koninklijke Philips (Netherlands), Digirad Corporation (US), Neusoft Medical Systems Co., Ltd (US), Canon Medical Systems Corporation (Japan), SurgicEye GmbH (Germany), DDD-Diagnostic A/S (Denmark), CMR Naviscan Corporation (US), and Mediso Ltd. (Hungary), among others.

COVID-19 Impact

The COVID-19 outbreak has significantly impacted the availability of hospital resources worldwide. This has been primarily managed by dramatically reducing in-patient and outpatient services for other diseases and implementing infection prevention and control measures. Both diagnostic and therapeutic nuclear medicine procedures declined precipitously, with countries worldwide being affected by the pandemic. Most of the nuclear medicine scans and therapies are carried out in outpatient departments as follow-up cases whereas new studies are usually dealt with in inpatient departments after going through COVID-19 screening. Nuclear medicine lacks portable SPECT and PET scanners, and there is a constant need to inject the patient with radiopharmaceuticals so the movement of the patient is not restricted. Hence it is very crucial for nuclear medical workers to have a thorough knowledge of precautionary measures to prevent COVID-19 transmission.

A majority of heart patients who go through nuclear cardiology procedures are usually above 60 years of age and carry other extreme health risks such as diabetes, hypertension, and chronic renal and lung diseases. All of these factors make them highly vulnerable to developing COVID-19 and have led to a decrease in the number of nuclear imaging procedures. However, many healthcare experts believe that this reduction in the number of procedures is temporary.

Recent Developments
  • In June 2022, Siemens Healthineers get FDA Nod for New SPECT/CT scanner
  • In November 2021, Siemens Healthineers launched the world’s earliest photon-counting CT scanner, Naeotom Alpha. It is highly superior in all technical parameters associated with image quality and is cleared for all clinical applications in U.S. and Europe.
  • In September 2021, GE Healthcare acquired BK Medical, a leader in enhanced surgical imaging, from Altaris Capital Partners for USD 1.45 Billion.
  • In March 2021, BWXT Medical Ltd. and Global Medical Solutions, Ltd. (GMS) have entered into a joint venture (JV) to manufacture and distribute radioisotopes and radiopharmaceuticals in the Asia-Pacific
  • In 2019, Shimadzu Medical Systems (US) and Midwestern State University (MSU, US) to provide medical equipment along with a 10-year service plan for the University through the Shimadzu School of Radiologic Sciences.
  • In 2018, Royal Philips (Netherlands) and Illawarra Shoalhaven Local Health District (Australia) and Nepean Blue Mountains Local Health District (Australia) entered into two 20-year agreements for Managed Equipment Services, where Philips has agreed to provide, upgrade, deliver, optimize, replace, and offer maintenance services for all major medical imaging solutions in Australia and the ASEAN Pacific region.
Frequently Asked Questions

Q1. How big is the orthopedic braces & supports market?

Ans. The global nuclear imaging equipment market size was USD 5.4 billion in 2021 and is anticipated to reach USD 12.8 billion in 2031, growing at a rate of 9.0% from 2022 to 2031.

Q2. What is the nuclear imaging equipment market growth rate?

Ans. The growth rate of the nuclear imaging equipment market is 9.0%.

Q3. Which region holds a major market share for the sepsis diagnostics market?

Ans. North America holds a major market share of the nuclear imaging equipment market in 2021.

Q4. Which segment accounted for the largest nuclear imaging equipment market share?

Ans. By end user, the healthcare segment accounted for the largest nuclear imaging equipment market share.

Q5. Who are the key players in the orthopedic braces & supports market?

Ans. The global nuclear imaging equipment market report includes players such as Siemens Healthineers (Germany), GE Healthcare (US), Koninklijke Philips (Netherlands), Digirad Corporation (US), Neusoft Medical Systems Co., Ltd (US), Canon Medical Systems Corporation (Japan), SurgicEye GmbH (Germany), DDD-Diagnostic A/S (Denmark), CMR Naviscan Corporation (US), and Mediso Ltd. (Hungary), among others.

Q6. What are the factors driving the nuclear imaging equipment market growth?

Ans. The major factors driving the growth of the market are the rising prevalence of cancer in women across the globe.

Q7. What are the key growth strategies of nuclear imaging equipment market players?

Ans. The key growth strategies of nuclear imaging equipment market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the nuclear imaging equipment market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the nuclear imaging equipment market during the forecast period.

 

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Newborn Screening Market
August, 2022

The global newborn screening market was valued at USD 1.7 billion in 2021 and it is anticipated to grow up to USD 3.7 billion by 2031, at a CAGR of 8.0% during the forecast period.

Newborn screening identifies conditions that can affect a childs long-term health or survival. This screening technology includes a series of tests essential for timely detection, early diagnosis, and health management to prevent overall disability and avert death of a child. These tests are performed shortly after the baby is born, and detect genetic, developmental, and metabolic disorders in newborn babies. Newborn screening is done by using a few drops of blood from the newborn’s heel, for certain genetic, endocrine, and metabolic disorders, and are tested for hearing loss and critical congenital heart defects (CCHDs) prior to discharge from a hospital or birthing center.

Global Newborn Screening Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$1.7 bn
Market Size in 2031$3.7bn
Growth Rate (2021-31)8.0%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Technology, Test Type, and Region
Key CompaniesPerkinElmer (US), Demant A/S (Denmark), Natus Medical (US), Bio-Rad Laboratories (US), Danaher Corporation (US), Medtronic (Ireland), Chromsystems Instruments & Chemicals GmbH (Germany), Trivitron Healthcare (India), Baebies (US) and Recipe Chemicals+Instruments (Germany)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

The prevalence of newborn diseases has risen in recent years, prompting providers to raise awareness and support the demand for advanced screening instruments. Hearing, metabolic, and hormonal disorders and critical congenital heart disease are the major newborn disorders; most are treatable if diagnosed early. For instance, according to the US CDC, during 2015–2017, the prevalence of newborn disorders was 34 per 10,000 live births in the US. Approximately 12,900 infants are expected to be identified each year with a disorder. Moreover, according to the same source, the most prevalent disorders are hearing loss (16.5 per 10,000), congenital hypothyroidism (6.0 per 10,000), sickle-cell disease (4.9 per 10,000), and cystic fibrosis (1.8 per 10,000). Such scenario will propel the industry growth.

Market Restraints and Challenges

Several ethical concerns related to prenatal and new-born testing may hamper the market progression. Prenatal and new-born genetic testing raises complex ethical issues further limiting the development of clinical services and implementation of public policy related to access and funding. The use of screening in selective abortion has raised several concerns. The rising occurrence of false results in prenatal and new-born genetic testing might decrease the adoption of genetic testing. For instance, around 5% of women are tested false-positive during prenatal testing for Down syndrome.

Global Newborn Screening Market Segmental Overview

The report analyses the global newborn screening market based on product, technology, test type, and region.

Global Newborn Screening Market by Product

Based on product, it is segmented into instrument and reagents. Among these, removable brace segment accounted for significant market share in 2021. The instruments market segment is expected to experience growth owing to increasing demand for newborn screening across the globe. Instruments used for newborn screening include mass spectrometers, pulse oximeters, fractionators, and others. Further, the launch of improved performance instruments of mass spectroscopy and oximeters is also expected to assist market growth. For instance, PerkinElmer’s TDQ screening system utilizes tandem quadrupole analysis which provides regular robust screening along with higher sensitivity and faster scanning. The rising prevalence of congenital disorders is also likely to boost market growth over the forecast period.

Global Newborn Screening Market by Technology

Based on technology, it is segmented into tandem mass spectrometry, pulse oximetry, enzyme based assay, DNA assay, electrophoresis and others. Among them, tandem mass spectrometry segment is expected to experience the fastest growth rate during the forecast period. Tandem mass spectrometry (TMS) is an advanced analytical instrument used in the laboratories which can analyze body fluids and other body contaminants. Tandem mass spectrometry dominated the overall market in 2014 owing to high demand due to cost-effectiveness, higher applicability, and technological upgrades. Tandem spectroscopy (MS/MS) is also likely to grow at a CAGR of 11.1% over the forecast period, due to its high function in diagnosing an array of conditions in a single procedure. It helps in concurrent recognition of amino acids, carnitine conjugates, and other compounds. Federal Agencies promoting mandatory testing of 50 conditions that can be easily screened using MS/MS technology is a major driving factor for this segment.

Global Newborn Screening Market Test Type

Based on test type, it is segmented into dry blood spot test, CCHD, hearing screen. Dry blood spot segment is anticipated to witness the fastest CAGR over the forecast period. The collection of blood from newborn’s heel within 24-48 hours of birth on the screening card for diagnosis of over 50 conditions is termed as a heel stick or dried blood spot test (DBS). These screening cards are labeled using unique codes and contain no additional identity information. Autisms, Lymphomas, and leukemia, and many other metabolic conditions can be diagnosed through this test. The card used for testing is provided free in North America as a plan to promote higher procedure volume.

Geographical Analysis of Global Newborn Screening Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share of the newborn screening market owing to the growing prevalence of congenital disorders and enforced testing in all the 50 states of the nation. The newborn screening program is diligently followed in all the states of North America. According to statistics published by CDC’s in 2013, more than four million babies born annually are screened for various possible conditions. Conditions for screening was provided through extensive research by the American College of Medical Genetics (ACMG) under the supervision of the U.S. Department of Health and Human Services (HHS). Recently, ACMG has deviated from the traditional screening criteria and added new conditions to the list. Hearing screen was added in 2011.

Major Players in the Global Newborn Screening Market

The key players in the market are PerkinElmer (US), Demant A/S (Denmark), Natus Medical (US), Bio-Rad Laboratories (US), Danaher Corporation (US), Medtronic (Ireland), Chromsystems Instruments & Chemicals GmbH (Germany), Trivitron Healthcare (India), Baebies (US) and Recipe Chemicals+Instruments (Germany), among others.

COVID-19 Impact

COVID-19 has impacted many sectors of the medical devices and diagnostics industry, it has had a limited impact on the market. Legislation in important markets has already emphasized the need for newborn screening; stringent regulations have been implemented to oversee newborn health and protect babies from COVID-19 or exposure to similar diseases. Many screening laboratories and government organizations provide health awareness to parents. On the other hand, the supply and sales operations of major companies in the market, such as Natus (US), PerkinElmer (US), and Masimo (US), were affected during Q2 2020 due to COVID-19. However, operations resumed in Q3 as countries ended lockdowns and permitted the transportation of medical goods

Recent Developments
  • In April 2022, Waters launched new tandem quadrupole mass spectrometer Xevo TQ Absolute
  • In November 2021, Thermo Fisher launched new mass spectrometry and chromatography solutions
  • In September 2020, PerkinElmer (US) recevied CE-IVD approval for EONIS screening assay used to screen SMA (spinal muscular atrophy), SCID (severe combined immunodeficiency), and XLA (X-linked agammaglobulinemia) in newborns
  • In December 2019, PerkinElmer (US) received US FDA approval for GSP Neonatal Creatine Kinase –MM (CK-MM) kit for screening newborns affected by Duchenne muscular dystrophy (DMD)
  • In October 2019, Demant A/S (Denmark) has lancuehd its easyScreen BERAphone, a hearing screening device, at the 64th International Congress of Hearing Aid Acousticians in Nuremberg, Germany
  • In January 2018, Demant A/S (Denmark) has launched GSI Novus, a handheld newborn hearing screener

Frequently Asked Questions

Q1. How big is the orthopedic braces & supports market?

Ans. The global newborn screening market size was USD 1.7 billion in 2021 and is anticipated to reach USD 3.7 billion in 2031, growing at a rate of 8.0% from 2022 to 2031.

Q2. What is the newborn screening market growth rate?

Ans. The growth rate of the newborn screening market is 8.0%.

Q3. Which region holds a major market share for the market?

Ans. North America holds a major market share of the newborn screening market in 2021.

Q4. Which segment accounted for the largest newborn screening market share?

Ans. By end user, the healthcare segment accounted for the largest newborn screening market share.

Q5. Who are the key players in the orthopedic braces & supports market?

Ans. The global newborn screening market report includes players such as PerkinElmer (US), Demant A/S (Denmark), Natus Medical (US), Bio-Rad Laboratories (US), Danaher Corporation (US), Medtronic (Ireland), Chromsystems Instruments & Chemicals GmbH (Germany), Trivitron Healthcare (India), Baebies (US) and Recipe Chemicals+Instruments (Germany), among others.

Q6. What are the factors driving the newborn screening market growth?

Ans. The major factors driving the growth of the market are the increasing demand for new born screening across the globe

Q7. What are the key growth strategies of newborn screening market players?

Ans. The key growth strategies of newborn screening market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the newborn screening market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the newborn screening market during the forecast period.

 

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Lateral Flow Assays Market
August, 2022

The lateral flow assay market was valued at USD 8.3 billion in 2021 and it is anticipated to grow further till USD 15.0 billion by 2031, at a CAGR of 6.1% during the forecast period.

A target analyte can be detected in a sample using lateral flow assays (LFA), also referred to as lateral flow immunochromatographic tests (matrix). For the qualitative and quantitative identification of particular antigens and antibodies, these tests are frequently employed in hospitals and clinical laboratories. Additionally, lateral flow assay kits are used to quickly screen for drug addiction, pregnancy, fertility, cardiac indicators, viral disorders, and cholesterol testing/lipid profiling. They are also employed in the testing of foods and drinks.

Global Lateral Flow Assay Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$ 8.3 Bn
Market Size in 2031$ 15.0 Bn
Growth Rate (2021-31)6.1%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Application, Technique, End Use, and Region
Key CompaniesAbbott Laboratories, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche AG, Bio-rad Laboratories, Inc., Biomérieux SA, Quidel Corporation, Hologic, Inc., Perkinelmer, Inc., Merck KGAA, Becton, Dickinson and Company, Siemens Healthineers, Danaher Corporation and Qiagen N.V. among others.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

The frequency of infectious diseases is still very high on a worldwide scale despite great advancements in sanitation and medicine. Infectious diseases continue to be a major public health problem around the world, despite the fact that non-communicable diseases constitute the largest cause of morbidity and mortality. The popularity of lateral flow assay tests is anticipated to increase in poor nations due to the high frequency of infectious diseases like HIV and malaria, as well as the underdeveloped healthcare infrastructure and growing public awareness.

The popularity of lateral flow assay tests is anticipated to increase in poor nations due to the high frequency of infectious diseases like HIV and malaria, as well as the underdeveloped healthcare infrastructure and growing public awareness. The need for early illness detection skills has also been underlined by recent viral outbreaks of infectious diseases (including Ebola, H1N1, and Zika), which is also anticipated to propel market expansion. Due to the current COVID-19 pandemic, there is a significant need for lateral flow technology-based rapid diagnostic testing, which will drive the market’s expansion throughout the ensuing year.

Market Restraints and Challenges

Although lateral flow assay tests are simple to conduct and more affordable than laboratory procedures, it has been noted that they are less accurate. For instance, the lateral flow-based SARS-CoV-2 antibody tests have demonstrated a significant margin of error. False-negative results have resulted as a result, making it challenging to monitor the coronavirus’s spread. Most doctors and patients choose molecular diagnostics over fast tests for the more accurate diagnosis of COVID-19 and other infectious diseases as a result of the low reliability of lateral flow assay tests.

Global Lateral Flow Assay Market Segmental Overview

The report analyses the global lateral flow assay market based on the product, application, technique, end use, and region.

Global Lateral Flow Assay Market by Product

Based on the product, it is segmented into kits & reagents, and lateral flow readers. The kits & reagents segment is anticipated to dominate the market during the forecast period. During the forecast period, it is anticipated that leading players would expand the market by releasing new kits. For instance, Abbott’s Panbio COVID-19 Antigen Self-Test obtained CE certification in Europe in June 2021. Its business in Europe is anticipated to grow as a result. To detect the Lambda and Delta variants of SARS-CoV-2, Thermo Fisher Scientific updated its TaqMan SARS-CoV-2 Mutation Panel in August 2021. In March 2021, the panel was initially introduced. A customizable screen for identifying mutations is included in the upgrades.

Due to the strong need for lateral flow readers to provide precise and accurate interpretation of results for R&D and sample testing applications, the market for them is expected to expand at a profitable rate. Benchtop and digital/mobile lateral flow readers are the two different types of lateral flow readers. Due to an increase in the usage of digital connectivity to improve lateral readers’ capabilities, it is projected that the market for digital/mobile lateral flow assay readers will grow rapidly in the future years.

Global Lateral Flow Assay Market by Application

Based on the application, it is segmented into clinical testing, veterinary diagnostics, food safety & environment testing, drug development & quality testing. The clinical testing segment is anticipated to dominate the market during the forecast period. This is due to an increase in infectious diseases, such as the COVID-19 outbreak. For the quantitative and qualitative identification of certain antibodies, products of gene amplification, and antigens, lateral flow-based assays are frequently employed in medical offices, hospitals, and clinical laboratories. Because of its portability and convenience of use, lateral flow assay testing makes illness testing easier.

Unlike other laboratory tests, these tests yield results instantly, saving time. The most frequent tests that make use of lateral flow assays are those for infectious illnesses, pregnancy, and urine analysis strip testing. Government mass screening efforts are being driven by an increased incidence of COVID-19 in numerous locations, which is strengthening the market. For instance, the North Dakota Department of Health launched a COVID-19 fast antigen test-based mass screening program in February 2021. It was anticipated that the initiative will increase demand for lateral flow tests.

Global Lateral Flow Assay Market by Technique

Based on the technique, it is segmented into the sandwich assay, competitive assay, and multiplex detection assay. The sandwich assay segment dominated the market during the forecast period. In this method, a colored line at the test line position typically serves as a representation of a positive test. The test doesn’t need any special training and can be applied in any sector or healthcare setting with limited resources. The market expansion is anticipated to be boosted by the increasing number of research activities conducted by various research institutes. Developing a sandwich-based immunochromatographic strip called a lateral flow was the goal of a research study that was published in the Asian Pacific Journal of Tropical Biomedicine in July 2019. Its use was to quickly detect circulating Schistosoma mansoni antigens in urine and serum samples of patients with active schistosomiasis.

Global Lateral Flow Assay Market by End Use

Based on the end use, it is segmented into hospitals & clinics, diagnostic laboratories, home care, pharmaceutical & biotechnology companies, and others. The hospital & clinics segment is anticipated to dominate the market during the forecast period. The primary care settings for the diagnosis and treatment of medical diseases include hospitals and clinics. For the diagnosis, treatment, and management of diseases, the majority of the population depends on these long-term facilities. The demand for hospitals with improved diagnostic services has increased as a result of the healthcare industry’s ongoing changes. Globally rising healthcare costs have made a substantial contribution to the market’s expansion.

Geographical Analysis of the Global Lateral Flow Assay Market

Region-wise, it is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America region is anticipated to dominate the market during the forecast period. This can be attributable to the great affordability and broad accessibility of modern lateral flow assays. Additionally, the region is seeing an increase in demand for detection and treatment due to the high incidence of respiratory illnesses such COVID-19, influenza, and RSV. Furthermore, it is projected that the region’s lateral flow assays market would develop as a result of the region’s established healthcare infrastructure and access to government funding for research. The NIH funded USD 248.7 million in the creation of new technologies in July 2020 to solve issues related to the testing of COVID-19.

Major Players in the Global Lateral Flow Assay Market

The key players in the global lateral flow assay market are Abbott Laboratories, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche AG, Bio-rad Laboratories, Inc., Biomérieux SA, Quidel Corporation, Hologic, Inc., Perkinelmer, Inc., Merck KGAA, Becton, Dickinson and Company, Siemens Healthineers, Danaher Corporation and Qiagen N.V. among others.

Recent Development
  • August 2021, Becton, Dickinson and Company got approval for the OTC rapid antigen test using the Scanwell Health Mobile App.
  • April 2021, Becton, Dickinson and Company partnered with USA Track & Filed to provide rapid COVID-19 testing for athletes using the BD Veritor plus system.
  • September 2020, Qiagen N.V. acquired Neu Mo Dx Molecular Inc., to broaden Qiagen’s diagnostics instruments product portfolio and strengthen its automated molecular testing market position.
  • July 2020, Merck KGaA announced its expansion of a new manufacturing facility worth USD 21 million in Buchs.
Frequently Asked Questions

Q1. How big is the Lateral Flow Assay market?

Ans. The global Lateral Flow Assay market size was USD 8.3 Billion in 2021 and is anticipated to reach USD 15.0 Billion in 2031, growing at a rate of 6.1% from 2022 to 2031.

Q2. What is the Lateral Flow Assay market growth rate?

Ans. The growth rate of the Lateral Flow Assay market is 6.1%.

Q3. Which region holds a major market share for the Lateral Flow Assay market?

Ans. North America holds a major market share of the Lateral Flow Assay market in 2021.

Q4. Which segment accounted for the largest Lateral Flow Assay market share?

Ans. By product, kits & reagents segment accounted for the largest Lateral Flow Assay market share.

Q5. Who are the key players in the Lateral Flow Assay market?

Ans. The global Lateral Flow Assay market report includes players such as Abbott Laboratories, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche AG, Bio-rad Laboratories, Inc., Biomérieux SA, Quidel Corporation, Hologic, Inc., Perkinelmer, Inc., Merck KGAA, Becton, Dickinson and Company, Siemens Healthineers, Danaher Corporation and Qiagen N.V. among others.

Q6. What are the factors driving the Lateral Flow Assay market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Lateral Flow Assay market players?

Ans. The key growth strategies of Lateral Flow Assay market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Lateral Flow Assay market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Lateral Flow Assay market during the forecast period.

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Laparoscopic Instruments Market
August, 2022

The laparoscopic instruments market was valued at USD 12.5 billion in 2021 and it is anticipated to grow further till USD 39.8 billion by 2031, at a CAGR of 12.3% during the forecast period.

The front of a laparoscope has a high-resolution camera and a long, narrow tube with a high-intensity light. As it passes through the abdomen, the camera feeds images to the monitor. Endometriosis, ectopic pregnancies, pelvic inflammatory disease (PID), cysts, and fibroids are all treated and diagnosed via laparoscopy. Devices for laparoscopy are frequently employed in both diagnostic and therapeutic treatments for a variety of ailments, including prostatectomy, pancreatic cancer, and digestive issues. The use of these tools during surgical procedures helps to maintain hemostasis and ensures little bleeding. Due to the great level of precision, they provide during procedures, laparoscopy equipment is preferred by both surgeons and doctors.

Global Laparoscopic Instruments Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$ 12.5 Bn
Market Size in 2031$ 39.8 Bn
Growth Rate (2021-31)12.3%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct Type, Application, End User, and Region
Key CompaniesIntuitive Surgical, Inc. (US), Stryker Corporation (US), Olympus Corporation (Japan), Karl Storz GmbH & CO. KG (Germany), Medtronic PLC (Ireland), Microline Surgical, Inc. (US), B. Braun Melsungen AG (Germany), SCHÖLLY Fiberoptic GmbH (Germany), Optomic (Spain), Victor Medical Instruments Co., Ltd (China), Peters Surgical (France), EndoMed Systems GmbH (Germany), Becton, Dickinson and Company (US), Mindray Medical International Limited (China), and CONMED Corporation (US) among others.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

In terms of pre- and post-operative care, as well as the length of hospital stays, laparoscopic operations are less intrusive and cost less money. These procedures lead to less blood loss, fewer postoperative issues, and quicker patient recoveries. Additionally, health insurance companies in several nations are increasingly providing coverage for less invasive procedures. These elements have caused patients to favour minimally invasive operations more frequently. Globally, some 15 million laparoscopic procedures are carried out each year, and the number is expected to rise sharply in the future years. A significant portion (roughly 40–45%) of surgical procedures are performed laparoscopically, including laparoscopic hysterectomy, laparoscopic hysterectomy repair, laparoscopic colectomy, laparoscopic appendectomy, laparoscopic cholecystectomy, and laparoscopic bariatric surgeries.

Market Restraints and Challenges

The US government announced plans to cut Medicare spending by USD 716 billion over the following ten years in August 2012. (till 2022). A 2% reduction in Medicare payments was announced as part of its healthcare reform for Critical Access Hospitals (CAH) and Cancer Hospital interim payments (effective from April 2013). In addition, starting in 2013, the government placed a 2.3% excise charge on domestic sales of taxable medical devices (under the Patient Protection and Affordable Care Act, 2010). Industry participants predict that these revisions will have a detrimental impact on the cash flow of US-based manufacturers of medical devices. The reimbursements for medical operations are anticipated to be impacted by this decrease in Medicare spending.

Global Laparoscopic Instruments Market Segmental Overview

The report analyses the global laparoscopic instruments market based on the product type, application, end user, and region.

Global Laparoscopic Instruments Market by Product Type

Based on the product type, it is segmented into Medical Laparoscopic Robots, Laparoscopes, Energy Devices, Closure Devices, Hand Instruments, Access Devices, Accessories, Insufflators, Suction/Irrigation Pumps. The medical laparoscopic robots segment is anticipated to dominate the market during the forecast period. The growing adoption of minimally invasive surgeries over open surgeries is likely to propel the growth of the market.

Global Laparoscopic Instruments Market by Application

Based on the application, it is segmented into general surgery, gynecological surgery, colorectal surgery, bariatric surgery, urological surgery, and pediatric surgery. The general surgery segment is anticipated to dominate the market during the forecast period. Due to its promise in the treatment of diabetes and disorders linked to cardiovascular diseases, the bariatric segment is predicted to increase at a rapid rate throughout the projection period. Gall bladder removal cases, hernia patients, and surgical removal of the appendix are all on the rise. Laparoscopic bariatric surgery also helps to treat conditions linked to obesity, including type 2 diabetes, high blood pressure, dangerous cholesterol levels, and sleep apnea.

Global Laparoscopic Instruments Market by End User

Based on the end user, it is segmented into hospitals, and ambulatory surgical centers. The hospital segment is anticipated to dominate the market during the forecast period. The increase in the funding by federal government to drive the adoption of these solutions further influence the market. Moreover, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the laparoscopic instruments market.

Geographical Analysis of the Global Laparoscopic Instruments Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. Significant growth potential will also result from the focus on novel, enhanced, and updated disposable laparoscopic devices in research and development. All of these factors will have a big impact on the disposable laparoscopic devices market’s expansion and offer promising future opportunities.

Major Players in the Global Laparoscopic Instruments Market

The key players in the global laparoscopic instruments market are Intuitive Surgical, Inc. (US), Stryker Corporation (US), Olympus Corporation (Japan), Karl Storz GmbH & CO. KG (Germany), Medtronic PLC (Ireland), Microline Surgical, Inc. (US), B. Braun Melsungen AG (Germany), SCHÖLLY Fiberoptic GmbH (Germany), Optomic (Spain), Victor Medical Instruments Co., Ltd (China), Peters Surgical (France), EndoMed Systems GmbH (Germany), Becton, Dickinson and Company (US), Mindray Medical International Limited (China), and CONMED Corporation (US) among others.

COVID-19 Impact

In the first six weeks of the epidemic in the US, healthcare visits plummeted by about 40%, according to Indiana University experts (from early March to mid-April). In the first half of 2020, there was a 70-80% decline in the number of procedures. In the first half of 2020, outpatient consultations and non-emergency operations decreased from around 20 cases per day and 40 procedures per month to nearly zero instances, according to a research paper that was published in the Indian Journal of Surgery in June 2020. Due to the fact that elective procedures make up around 20% of the overall healthcare revenue in nations like the US, this has had a significant impact on healthcare spending. In 2020, this had a negative effect on the market for surgical devices, which also included the market for laparoscopic instruments.

Recent Developments
  • February 2021, Olympus Corporation launched the SIF-H190 Single balloon enteroscopy solution to reach deep into the small intestine.
  • March 2019, Intuitive Surgical Inc. received clearance from the US FDA for the da Vinc X Surgical System.
  • November 2018, Stryker Corporation acquired K2M group to strengthen and expand its offering in the arthroscopy and minimally invasive spine portfolio, as well as expand its additive manufacturing capabilities.
  • January 2017, Ethicon acquired Megadyne Medical to bring together Ethicon’s advanced energy devices with Megadyne’s innovative portfolio of electrosurgical tools.
Frequently Asked Questions

Q1. How big is the Laparoscopic Instruments market?

Ans. The global Laparoscopic Instruments market size was USD 12.5 Billion in 2021 and is anticipated to reach USD 39.8 Billion in 2031, growing at a rate of 12.3% from 2022 to 2031.

Q2. What is the Laparoscopic Instruments market growth rate?

Ans. The growth rate of the Laparoscopic Instruments market is 12.3%.

Q3. Which region holds a major market share for the Laparoscopic Instruments market?

Ans. North America holds a major market share of the Laparoscopic Instruments market in 2021.

Q4. Which segment accounted for the largest Laparoscopic Instruments market share?

Ans. By product type, medical laparoscopic robots segment accounted for the largest Laparoscopic Instruments market share.

Q5. Who are the key players in the Laparoscopic Instruments market?

Ans. The global Laparoscopic Instruments market report includes players such as Intuitive Surgical, Inc. (US), Stryker Corporation (US), Olympus Corporation (Japan), Karl Storz GmbH & CO. KG (Germany), Medtronic PLC (Ireland), Microline Surgical, Inc. (US), B. Braun Melsungen AG (Germany), SCHÖLLY Fiberoptic GmbH (Germany), Optomic (Spain), Victor Medical Instruments Co., Ltd (China), Peters Surgical (France), EndoMed Systems GmbH (Germany), Becton, Dickinson and Company (US), Mindray Medical International Limited (China), and CONMED Corporation (US) among others.

Q6. What are the factors driving the Laparoscopic Instruments market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Laparoscopic Instruments market players?

Ans. The key growth strategies of Laparoscopic Instruments market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Laparoscopic Instruments market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Laparoscopic Instruments market during the forecast period.

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Optical Imaging Market
August, 2022

The global optical imaging market was valued at USD 1.6 billion in 2021 and it is anticipated to grow up to USD 8.6 billion by 2031, at a CAGR of 18.3% during the forecast period.

Optical imaging has become prevalent in the field of medical imaging over the past few years owing to its vast and constantly expanding applications in various therapeutic areas. Currently scientists and doctors use optical imaging widely for research and clinical purpose.

Global Optical Imaging Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$1.6 bn
Market Size in 2031$8.6 bn
Growth Rate (2021-31)18.3%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Technique, Therapeutic Area, End-use, and Region.
Key CompaniesCarl Zeiss Meditec AG (Germany), Abbott (US), Topcon Corporation (Japan), Canon Inc. (Japan), PerkinElmer, Inc. (US), Koninklijke Philips N.V. (Netherlands), Heidelberg Engineering (US), Leica Microsystems (Germany), Headwall Photonics, Inc. (US)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Technological innovations to drive greater market penetration will fuel the industry growth. Optical coherence tomography (OCT) is a well-established technology, widely used in ophthalmology, employed by eye-care professionals as a tool to help understand and diagnose retinal conditions. Scientists are finding new applications in OCT — in dermatology, aesthetics, and cancer diagnosis & treatment. Over the years, there have been several advancements and innovations in the field of optical imaging. OCT technology has advanced from time-domain OCT to frequency-domain OCT, which offers higher speed and facilitates rapid 3D pullback imaging during the administration of a non-occlusive flush of an optically transparent medium or radiocontrast. Improved scanning speed, resolution, reproducibility, and availability of updated software and normative databases have further expanded the application areas of OCT systems in clinical diagnostics. This has enabled the imaging of cellular structures to the level of nerve fiber layers and ganglion cell complexes. The evolution of newer technologies, including optical coherence tomography angiography (OCTA), has added a whole new level of patient care and management to the spectrum.

Market Restraints and Challenges

Lack of skilled operators may impede the market growth. Optical imaging is a specialized diagnostic imaging technique and needs skilled operators for effective utilization. At present, there is a dearth of skilled operators, especially in developing countries, thus being a major factor limiting the uptake of optical imaging for clinical diagnostic applications. Moreover, the technological landscape of the optical imaging market is changing rapidly, with a growing number of advanced products being launched every year. This necessitates physicians and other healthcare providers to acquire the necessary skills to operate advanced imaging systems effectively. Owing to these factors, physicians and healthcare providers are refraining from adopting advanced imaging systems, thereby affecting the growth of this market.

Global Optical Imaging Market Segmental Overview

The report analyses the global optical imaging market based on product, technique, therapeutic area, end-use, and region.

Global Optical Imaging Market by Product

Based on product, it is segmented into imaging systems, illumination systems, cameras, lenses, and software. Among these, imaging system segments accounted for significant market share in 2021. Imaging systems are extensively used for various applications including disease diagnosis, preclinical research, discrete molecular and cellular process imaging. Thus, increasing applications of optical imaging modalities for therapeutic and diagnostic purposes is expected to have a positive impact on the segment growth.

Global Optical Imaging Market by Technique

Based on technique, the optical imaging market is segmented into near-infrared spectrometry, optical coherence tomography, photoacoustic imaging, endoscopy, and hyperspectral imaging. The endoscopy segment is projected to witness robust growth over the analysis timeframe. Rising preference for minimally invasive diagnostic procedures and technological advancements are the major factors that will drive the segment growth. The older patients are more susceptible to chronic and acute ailments. Thus, the adoption of endoscopy procedures is more among the geriatric population base. As per the reports from the Administration of Community Living (ACL), the number of people of age 65 and older were 54.1 million in 2019 and is projected to grow around 94.7 million by 2060 in the U.S. Additionally, the rise in the prevalence in chronic diseases is anticipated to drive the endoscopy market growth further in the analysis timeframe.

Global Optical Imaging Market by Therapeutic Area

Based on therapeutic area, the optical imaging market is classified into ophthalmology, neurology, oncology, cardiology, dentistry, dermatology, and others. The ophthalmology segment is projected to witness a robust growth over the analysis timeframe. The number of multispecialty ophthalmic clinics and eye care hospitals has been increasing significantly, owing to rising age-related eye disorders such as cataract and glaucoma. Various government and private organizations are investing in the establishment of eye care product facilities as demand grows for minimally-invasive surgeries and advanced diagnostic services. The Royal College of Ophthalmologists predicted 40% increase in demand for eye services from 2018 to 2038. Growing number of eye care facilities will boost the expansion of the ophthalmic imaging equipment market.

Global Optical Imaging Market by End-use

Based on end-use, the optical imaging industry is segmented into hospitals, clinics, research laboratories, and diagnostic imaging centers. The hospitals segment is anticipated to experience robust growth. Increasing hospital establishments in numerous developed and developing countries, and growing healthcare expenditure by the government will propel the segment growth over the projected timeline.

Geographical Analysis of Global Optical Imaging Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share in the market. Factors such as the availability of skilled professionals, well-developed research infrastructure, and government initiatives to encourage technological advancement in the industry by offering investments and funds are promoting growth of the market in this region. Moreover, faster adoption of technological advanced products in the region is estimated to further boost the market growth.

Major Players in the Global Optical Imaging Market

The key players in the market Carl Zeiss Meditec AG (Germany), Abbott (US), Topcon Corporation (Japan), Canon Inc. (Japan), PerkinElmer, Inc. (US), Koninklijke Philips N.V. (Netherlands), Heidelberg Engineering (US), Leica Microsystems (Germany), Headwall Photonics, Inc. (US), among others.

COVID-19 Impact

Due to the COVID-19 outbreak, medical practices of all sizes are under immense pressure, and healthcare facilities across the globe have been overwhelmed by the large number of patients visiting them on a daily basis. The rising prevalence of coronavirus disease has driven the demand for accurate diagnosis and treatment devices in several countries across the globe. Due to the rapid spread of COVID-19, the shortage of supplies has become a significant concern. This is due to lockdown measures that have affected areas such as manufacturing sites. Travel restrictions, on the other hand, have affected the shipping and transportation of goods. The pandemic has also affected the availability of raw materials required for manufacturing.

COVID-19 has also affected sales; end users have shown less interest in purchasing imaging products, while delays and the postponement of elective surgeries and other aspects of care—in favor of COVID-19 cases—have reduced imaging volumes. By extension, this has affected the use of optical imaging products and the adoption thereof. Leading manufacturers of optical imaging—Abbott (US), Carl Zeiss (Germany), Philips (Netherlands), PerkinElmer (US), Canon (Japan)—reported fluctuations in revenue as of 2020 Q3, citing lesser sales of optical imaging products. The fluctuations in revenue were reported due to the primary focus on COVID-19 lockdown restrictions and delays in elective procedures. The revenues are expected to rise after the situation stabilizes further because most vendors have strategized new plans to accelerate their optical imaging business.

Recent Developments
  • In August 2021, Abbott receives FDA clearance for its imaging technology using artificial intelligence for vessels in the heart.
  • In January 2021, Koninklijke Philips partnered with Rennes University (France)
  • In December 2020, Carl Zeiss partnered with VIVO (China)
  • In December 2020, Carl Zeiss acquired arivis AG (Berlin)
  • In November 2020, Leica Microsystems Launched Enfocus (Intra-operative OCT Solutions)
Frequently Asked Questions

Q1. How big is the optical imaging market?

Ans. The global optical imaging market size was USD 1.6 million in 2021 and is anticipated to reach USD 8.6 million in 2031, growing at a rate of 18.3% from 2022 to 2031.

Q2. What is the optical imaging market growth rate?

Ans. The growth rate of the optical imaging market is 18.3%.

Q3. Which region holds a major market share for the sepsis diagnostics market?

Ans. North America holds a major market share of the optical imaging market in 2021.

Q4. Which segment accounted for the largest optical imaging market share?

Ans. By end user, the healthcare segment accounted for the largest optical imaging market share.

Q5. Who are the key players in the optical imaging market?

Ans. The global optical imaging market report includes players such as Carl Zeiss Meditec AG (Germany), Abbott (US), Topcon Corporation (Japan), Canon Inc. (Japan), PerkinElmer, Inc. (US), Koninklijke Philips N.V. (Netherlands), Heidelberg Engineering (US), Leica Microsystems (Germany), Headwall Photonics, Inc. (US), among others.

Q6. What are the factors driving the optical imaging market growth?

Ans. The major factors driving the growth of the market are the increasing demand for optical imaging across the globe

Q7. What are the key growth strategies of optical imaging market players?

Ans. The key growth strategies of optical imaging market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the optical imaging market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the optical imaging market during the forecast period.

 

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Nuclear Medicine/Radiopharmaceuticals Market
August, 2022

The global nuclear medicine/radiopharmaceuticals market was valued at USD 7.8 billion in 2021 and it is anticipated to grow up to USD 48.8 billion by 2031, at a CAGR of 20.1% during the forecast period.

Nuclear medicine is primarily a specialized area of radiology that employs very small amounts of radioactive materials, called radiopharmaceuticals for examining organ functions and structures. Radiopharmaceuticals are pharmaceutical formulations comprising radioactive isotopes that are used in diagnosis and therapeutics. They are simple and small substances that contain a radioactive substance that is used in the treatment of cancer and cardiac & neurological disorders.

Global Nuclear Medicine/Radiopharmaceuticals Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$7.8 bn
Market Size in 2031$48.8 bn
Growth Rate (2021-31)20.1%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredType, Application, and Region.
Key CompaniesCardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), NTP Radioisotopes (South Africa)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

Increasing incidence and prevalence of target conditions will boost the business progression. The rising incidence and prevalence of cancer and cardiovascular disease (CVD) is a key factor supporting market growth. Most cases can be prevented through early detection and treatment; nuclear medicine plays a significant role in these areas. According to the WHO, cancer was the leading cause of death in 2020, accounting for nearly 10 million deaths. Annually, 19.3 million new cancer cases are expected to be reported worldwide by 2025. According to the WHO, globally, 17.9 million individuals died from CVD in 2019, accounting for 32% of the overall deaths globally. This figure is expected to reach 23.3 million by 2030. As nuclear medicine plays a significant role in disease diagnosis and treatment, the rising prevalence of these diseases is expected to drive the growth of the nuclear medicine market during the forecast period.

Market Restraints and Challenges

Short half-life of radiopharmaceuticals may restraint the market growth. The expiry of a radiopharmaceutical primarily depends on the half-life of the radioisotope and the content of the radionuclide. For example, the radioactivity of F-18 in PET scans decreases if not used within 110 minutes, while the radioactivity of C-11 decreases within 20 minutes. In SPECT diagnosis, the radioactivity of Tc-99m is reduced after six hours, while I-123 and In-111 isotopes should be utilized within 13 and 67 hours, respectively. The non-utilization of radioisotopes within the prescribed shelf life causes radiation and chemical decomposition, reducing radiochemical purity to an unacceptable form, which may prove fatal during diagnosis and therapy.

Global Nuclear Medicine/Radiopharmaceuticals Market Segmental Overview

The report analyses the global nuclear medicine/radiopharmaceuticals market based on type, application, and region.

Global Nuclear Medicine/Radiopharmaceuticals Market by Type

Based on type, it is segmented into diagnostics and therapeutics. Among these, diagnostic segment held the highest market share in 2021 owing to the presence of a large patient base and the availability of advanced technologies such as Single-Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET). According to the World Nuclear Association Analysis 2021, about 40 million nuclear medicine procedures are performed annually and the demand for radioisotopes increases by around 5% every year. The wide range of radiotracers that are currently employed in the diagnosis of tumors, coupled with technological advancements, are contributing to the growth of the nuclear medicines market.

Global Nuclear Medicine/Radiopharmaceuticals Market by Application

Based on application, it is segmented into oncology, cardiology, neurology, orthopedics, thyroid and others. Among them, the oncology segment dominated the market in 2021. Cancer is one of the leading causes of death worldwide. Factors such as unhealthy diet, smoking habits, and lack of exercise contribute to rising prevalence. Furthermore, rising investment in the R&D of novel nuclear medicines for the treatment of cancer may contribute to segment growth. For instance, in January 2022, ITM Isotope Technologies Munich SE initiated COMPOSE phase 3 trial of 177lu-edotreotide to evaluate the viability of the product for treating patients with neuroendocrine tumors.

Geographical Analysis of Global Nuclear Medicine/Radiopharmaceuticals Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share in the market and is anticipated to grow at a significant rate over the forecast period. The high market share in the region can be attributed to the increased investment in R&D activities, high volume of nuclear medicine procedures, and strong healthcare infrastructure. For instance, in January 2021, Eckert & Ziegler announced the development plan of a cGMP facility for contract manufacturing of radiopharmaceuticals in Boston, U.S. The facility will be dedicated to the production of late-investigational-stage and commercial-stage radioisotopes used in nuclear medicines and can help address the increasing demand for radionuclides in the market.

Major Players in the Global Nuclear Medicine/Radiopharmaceuticals Market

The key players in the market are Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), NTP Radioisotopes (South Africa), among others.

COVID-19 Impact

Coronavirus disease 2019 (COVID‐19) is an acute respiratory infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS‐CoV‐2). Largely unknown before the outbreak began in Wuhan, China, in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a few weeks. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020. The COVID-19 pandemic has led to major changes in the clinical operations of radiology departments worldwide. In parallel with clinical preparedness activities, academic medical centers and universities were rushed to shut down scientific research activities to maximize social distancing and minimize the spread of infection to research staff and others with whom they might have contact.

Recent Developments
  • In July 2022, IAEA and GE Healthcare Join Forces to Train Medical Professionals in Cancer Diagnosis
  • In September 2021, BWX Technologies subsidiary, BWXT Medical inked an agreement with Bayer AG for developing and producing Ac-225 (Actinium-225), a highly powerful radioisotope utilized in targeted alpha therapies. This helped the firm leverage its differential strengths in nuclear medicine.
  • In September 2021, GE Healthcare launched MyoSPECT[ii], a cardiac-dedicated next-gen nuclear medicine scanner with new automated workflow features and extended field-of-view processing to offer a fast and comfortable exam experience
  • In March 2021, Bracco entered into a partnership with CardioNavix which will help improve patient access to cardiac PET imaging.
  • In December 2019. Curium acquired MAP Medical, which will help it to increase its footprint in Europe with direct access to Nordic and Baltic countries.
Frequently Asked Questions

Q1. How big is the nuclear medicine/radiopharmaceuticals market?

Ans. The global nuclear medicine/radiopharmaceuticals market size was USD 7.8 billion in 2021 and is anticipated to reach USD 48.8 billion in 2031, growing at a rate of 20.1% from 2022 to 2031.

Q2. What is the nuclear medicine/radiopharmaceuticals market growth rate?

Ans. The growth rate of the nuclear medicine/radiopharmaceuticals market is 20.1%.

Q3. Which region holds a major market share for the sepsis diagnostics market?

Ans. North America holds a major market share of the nuclear medicine/radiopharmaceuticals market in 2021.

Q4. Which segment accounted for the largest nuclear medicine/radiopharmaceuticals market share?

Ans. By end user, the healthcare segment accounted for the largest nuclear medicine/radiopharmaceuticals market share.

Q5. Who are the key players in the nuclear medicine/radiopharmaceuticals market?

Ans. The global nuclear medicine/radiopharmaceuticals market report includes players such as Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), NTP Radioisotopes (South Africa), among others.

among others.

Q6. What are the factors driving the nuclear medicine/radiopharmaceuticals market growth?

Ans. The major factors driving the growth of the market are the increasing cancer cases across the globe

Q7. What are the key growth strategies of nuclear medicine/radiopharmaceuticals market players?

Ans. The key growth strategies of nuclear medicine/radiopharmaceuticals market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the nuclear medicine/radiopharmaceuticals market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the nuclear medicine/radiopharmaceuticals market during the forecast period.

 

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