Healthcare Expenditure Is Set to Spur the Demand for Medical Devices and Accessories Market

Market Insights:

Medical devices and accessories refer to any apparatus, machine, instrument used for the treatment of disease and illness through monitoring, diagnosis, and treatment. Growing occurrences of chronic diseases and diabetes, geriatric population, rising cases of surgical cases, healthcare expenditure, and technological advancements for superior medical infrastructures, and constant investments by industry giants are some of the pointers that might help the global medical device and accessories market to flourish during the forecast period.

Market Research Future stated that the global Medical Devices and Accessories Market is estimated to register a CAGR of 6.53%, reaching the valuation of USD 133,835.9, during the forecast period, 2014-2023.

Other additional factors influencing the growth of the global market include mergers and collaboration led by the market players.

Major Players:

·         Koninklijke Philips n.v

·         General Electric Company

·         Medtronic

·         Johnson & johnson Services

·         Siemens AG

·         Danaher Corporation

·         Stryker Corporation

·         Boston Scientific Corporation

Market Segmentation:

The medical devices and accessories market is diversified by various types of devices.

On the basis of devices, the market study is divided into the therapeutic medical guide, dental implant, coronary pressure, monitors, cochlear implant, nerve stimulator, diabetes monitors market, global suture needles, cardiovascular application, and catheters.

The cardiovascular segment is further sub-segmented to cardiac pacemakers, cardiac defibrillators, cardiac monitors, and others. The coronary pressure monitor is sub-segmented into instruments, pressure monitor, BP transducers, and automated blood ambulatory blood pressure monitor, sphygmomanometer. The catheter segment is classified into neurological catheters, cardiovascular catheters, specialty catheters, urinary catheters, and intravenous catheters. The therapeutic medical guidewire segment bifurcated into solid guidewire and wrapped guidewire. The nerve stimulator segment is divided into deep brain stimulators, vagus nerve stimulators, and spinal cord stimulators.

Regional Outlooks:

The strong health trend associated with rising health care spending in North America should strengthen the regional medical device and accessory market. Technological progress in supporting medical infrastructure is increasingly attracting investment from influential market players in research and development, paving the way for new and innovative products. These factors have a powerful positive effect on the US market. North America is set to lead the global medical devices and accessories market.

The European region is expected to be second in the world market due to high medical costs, government support, and exceptional medical infrastructure.

The Asia Pacific region is likely to see the fastest-growing market. The growing geriatric population and the technological progress that creates opportunities for innovation are key factors in the regional market that may stimulate the Asia Pacific medical device market in the near future.

The growth of the medical device and equipment market in the Middle East and the African region, due to the lower availability of medical facilities and socioeconomic decline, is considered the smallest in the market in the coming years.

Recent Updates

The Indian government is emphasizing to place a proposal for American companies to manufacture medical devices in India to mitigate the issue of high cost. The medical device imports jumped in India to Rs 38,837 crore, rising to 24% in FY 2019. The US is the largest medical device exporter to India, acquiring a one-fifth share of the market in India, followed by other exporters such as Germany, China, Singapore, and the Netherlands.

Companion Diagnostics Market Driven by Growing Research into Genetics

Market Overview:

Market Research Future (MRFR) expects the global companion diagnostics market to exhibit a robust 15.4% CAGR over the 2017 to 2023 forecast period to reach a valuation of more than USD 12 billion, according to the latest research report from the market research expert. The report provides a comprehensive overview of the global companion diagnostics market to readers looking to assess the growth prospects of the market and figure out which strategies are likely to work in the market in the coming years. Major drivers and restraints affecting the global companion diagnostics market are profiled in the report to help readers understand the major factors motivating the market in the coming years. Key competitive insights into the companion diagnostics market’s workings are also provided in the report on the back of a detailed analysis of the historical performance of companies in the global market.

The field of companion diagnostics has boomed since the genetics revolution, as more in-depth information about a patient’s tendency to react to certain chemicals has been made available by genetic studies. Increasing availability of detailed information about a patient’s genetic makeup has allowed for the development of effective tests to cross-check various therapeutic products against the genetic tendencies exhibited by the patient. This has led to steady growth of the Companion Diagnostics Market over the last few years.

The increasing demand for personalized medicine in the coming years is likely to be a major driver for the companion diagnostics market. As the genetics field has grown, physicians and medical researchers have been quick to make use of it to develop ways of treating diseases with highly personalized, customized treatment formulations that best suit the individual patient in question.

Competitive Analysis:

·         Thermo Fisher Scientific Inc

·         Qiagen NV

·         Myriad Genetics Inc

·         F. Hoffman-La Roche AG

·         ARUP Laboratories

·         Agilent Technologies

·         Abbott Laboratories

Segmentation:

·         The global companion diagnostics market is segmented on the basis of technology, application, end use, and region.

·         By technology, the global companion diagnostics market is segmented into polymerase chain reaction (PCR), in-situ hybridization, and immunohistochemistry. Of these, the PCR segment holds a dominant 53% share in the global companion diagnostics market and is likely to remain the leading revenue generator over the forecast period.

·         By application, the global companion diagnostics market is segmented into cancer, infectious diseases, cardiovascular diseases, central nervous system disorders, and others.

·         By end use, the market is segmented into pharma and biotech companies, clinical laboratories, contract research organizations, and others.

Regional Analysis:

The Americas is likely to remain the major revenue generator in the global companion diagnostics market over the forecast period, followed by Europe and Asia Pacific. North America is likely to remain the leading regional market due to the growing presence of the healthcare sector and the strong presence of research avenues into genetics. Asia Pacific is likely to exhibit the highest growth rate.

Americas to Spearhead Actinic Keratosis Treatment Market

Market Analysis: 

Actinic keratosis, simply put, is a scaly, rough patch on the skin which results from years of sun exposure. It is commonly found on the neck, scalp, forearms, back of the hands, ears, lips, or face. The size varies from a small inch to about a diameter, and when left untreated, such areas of the skin can turn into a serious type of skin cancer. Change in the color of the skin (brown, flesh-colored, or pink), hard wart-like surface, burning sensation and itching, and rough, patchy, scaly skin are some of its common symptoms. 

The global Actinic Keratosis Treatment Market is predicted to touch USD 6,088.4 million at a 4.20% CAGR over the forecast period (2015-2024), states the new Market Research Future (MRFR) report. No two cases will appear the same, yet is likely to share similar features such as sandpaper texture, crusty patches, raised patches, and red scales. Though anyone can develop actinic keratosis, but those with fair skin, particularly blonde or red hair, green or blue eyes, or skin that easily burns or freckles have a higher risk of experiencing actinic keratosis. 

Various factors are propelling the actinic keratosis treatment market growth. These factors, according to the new MRFR report, include its increasing prevalence, increasing acceptance of therapeutic procedures that are minimally invasive, growing geriatric population, and the presence of suitable medical coverage. Additional factors pushing market growth include the availability of suitable medical attention and environmental factors such as excessive sun exposure and ozone depletion. 

On the flip side, high cost of treatment, risk factors related to the available treatment, low penetration of actinic keratosis treatment market especially in developing economies, and scarcity of skilled medical professionals are factors that may impede the actinic keratosis treatment market growth over the forecast period. 

Key Players:

·         Cipher Pharmaceuticals Inc.

·         Valeant Pharmaceuticals

·         Sun Pharmaceutical Industries Ltd

·         Alma Lasers

·         Stanford Chemicals

·         3M

·         Leo Pharma

·         BioLineRx

·         Biofrontera AG

Market Segmentation:

·         The MRFR report provides a complete segmental analysis of the actinic keratosis treatment market report on the basis of end user, procedure, and medication. 

·         Based on medication, the actinic keratosis treatment market is segmented into diclofenac gel, ingenol mebutate gel, imiquimod cream, fluorouracil cream, and others. 

·         Based on procedure, the actinic keratosis treatment market is segmented into chemical peels, laser, photodynamic therapy, cryotherapy, and others. Of these, the cryotherapy segment will have the largest share in the market over the forecast period. This is a common treatment used for actinic keratosis. 

·         Based on end user, the actinic keratosis treatment is segmented into ambulatory surgical centers, dermatology clinics, and hospitals and oncology centers. Of these, the hospitals and oncology segment will dominate the market over the forecast period. 

Regional Analysis:

By region, the actinic keratosis treatment market report covers the latest trends and growth opportunities across the Asia Pacific, Europe, the Americas, and the Middle East and Africa. Of these, the Americas will spearhead the market over the forecast period. Factors aiding growth in the region include easy availability of advanced treatment methods such as monotherapy and combination therapy and increasing efforts taken on cancer research in the region. 

The actinic keratosis treatment market in the APAC region is predicted to have significant growth over the forecast period. Factors aiding growth in the region include growing government support for medical tourism, rising healthcare spending, rising literacy rates, rapidly growing healthcare infrastructure, and rising disposable income. India, Japan, and China are the key contributors in this region. 

The actinic keratosis treatment market in Europe will have a favorable growth over the forecast period while the Middle East and Africa will experience sluggish growth. 

Global Ambulatory Services Market to Grow at 5.1% CAGR Between 2019 and 2025

Market Overview:

The most important market driving factor for the global ambulatory services market growth is government initiatives to integrate acute and primary healthcare. The acceptance of ambulatory services is being seen as a positive change in the healthcare sector due to its capability to provide improved diagnosis, prognosis, and patient/individual treatment processes. The value for money and continuously aging population also boost market growth. Other factors speeding up the market growth include changing dynamics of the legal as well as regulatory framework, cost-effective nature, convenient facility for the patient, and intense competitive rivalry among an excess of public companies.

Ambulatory services are defined as medical care procedures or tests carried out in a healthcare facility without an overnight stay for the patient. A new report on the global Ambulatory Services Market, published by Market Research Future (MRFR), analyzes that this market could clutch to growth at 5.1% Compound Annual Growth Rate (CAGR) between 2019 and 2025. In terms of money value, the market can be worth USD 3906.8 Mn by the end of the forecast period.  

Key Players

·         AmSurg Corp

·         HCA Holdings Inc

·         Healthway Medical Group

·         Surgical Care Affiliates

·         SurgCenter

·         Surgery Partners

·         Trillium Health Partners

Market Segmentation

·         The global ambulatory services market has been segmented on the basis of type. MRFR’s take on the market surveys various facets of the market in-depth.

·         By type, the market has been segmented into ambulatory surgery, emergency departments, medical specialty, outpatient departments (OPDs), and primary care offices.

Regional Segmentation

A geographical outlining of the global ambulatory services market covers the Americas (North America & Latin America), Asia Pacific, Europe, and the Middle East & Africa (MEA).

During the forecast period, the Americas region is estimated to dominate global market holding 32% of the market share due to the well-developed technology, high disposable income of patients, rising healthcare expenditure, and the presence of the leading players in the market. Due to technological advancements and availability of advanced medical facilities, North America is a bigger regional market segment, compared to South America. North America alone holds the ability to be a strong regional market due to advanced medical sector and high research & development (R&D) in the medical sector in the United States of America (USA). After USA, Canada contributes maximum revenue to the North American market. In South America, the strongest economies are Argentina and Brazil that can be important markets in the future.

Europe is the second-largest regional market due to rising investment in R&D, increasing healthcare funds, and well-developed healthcare infrastructure. Due to the reasons that are same as in the Americas, Western Europe is a bigger regional market than Eastern Europe. The most powerful country-specific markets in Europe are France, Germany, Italy, Spain, and the UK. An inspection of the remaining countries in Western Europe featured in this report speculate the huge contribution to market revenue from some other countries in this region with a sizable revenue from Eastern Europe too.

During the forecast period, the Asia Pacific region can be the fastest growing regional market due to the increasing healthcare expenditure, rising economic growth, improving healthcare facilities, rising aging population, and rapidly changing healthcare sector. The vibrant country-specific markets in this region are Australia, China, India, Japan, and South Korea. An analysis of the remaining countries in the Asia Pacific region featured in this report estimates the huge contribution to market revenue from some other countries.

Tissue Microarray Market to Grow Registering a Considerable CAGR by 2023

Market Highlights:

The need for effective treatments and diagnostic support to battle the surging clinical condition that require special medical attention is strongly prompting the global tissue microarray (TMA) market growth, predicts Market Research Future (MRFR).  The MRFR’s report on the Tissue Microarray Market mentions that between 2017 and 2023, the market can capitalize with a CAGR of 10.54%.  A substantial valuation is forecasted for the market to attain, over the assessment period. 

Market Insights:

The growing demand of tissue microarray treatment is due to its speedy and cost-effective features. This effective treatment is observed to be popularizing among cancer patients. Consequently, the surge in number of cancer cases can boost the tissue microarray market growth in the near future. For cancer patients, early diagnosis is propitious. TMA offers detection of stages of cancer at cheaper rates. Hence, the diagnostic ability of TMA can also surge its market expansion. TMA also has potential application in drug discovery procedures, which can effectively contribute to the market growth over the forecast period. On the flip side, the inability of tissue microarray to not prove beneficial in cases of heterogeneous cancers can be a drawback for the TMA market expansion.  

Key Players:

·         OriGene Technologies Inc

·         Abcam plc

·         Asterand Bioscience

·         Externautics

·         Protein Biotechnologies Inc

·         US Biomax Inc

·         Auria Biopankki

·         Novus Biologicals

·         OriGene Technologies Inc

Segmental Overview:

·         MRFR in the segmental study of the tissue microarray market covers the crucial aspects of the market.

·         The market has been studied under the segments of procedure, technology, and applications.

·         Based on the procedure, the tissue microarray market has been segmented into Frozen Tissue Array, Immunohistochemistry, and Fluorescent In-Situ Hybridization.

·         Based on the technology, the tissue microarray market has been segmented into Next-Generation Sequencing, DNA Microarray, Western Blotting, Polymerase Chain Reaction (PCR), and Northern Blotting.

·         Based on the application, the microarray market has been segmented into Gene Expression Profiling, Comparative Genomic Hybridization, SNP Detection, Sequencing Bioinformatics, Double-Stranded B-DNA Microarrays, and Oncology.

·         Based on the end-use, the microarray market has been segmented into research organization and pharmaceutical and biotechnological companies.

Regional Outlook:

Based on the region, the global tissue microarray market has been studied across the Americas, Asia Pacific, Europe, and the Middle East Asia and Africa.

The American tissue microarray market to secure the supreme position in the global market. The sturdy hospital infrastructure, availability of trained professionals, several research and developmental projects, and strong economy of the region are considered to be some of the reasons contributing to the expansion of the tissue microarray market over the assessment years.

Europe to succeed North America in the global tissue microarray market growth. The growing emphasis on diagnosis and treatment of diseases like cancer and other infectious diseases are likely to prompt the regional market growth. The growing cases of cancer and rising geriatric citizenry in the region are also bolstering the tissue microarray market growth over the review period.   

The tissue microarray market in the Asia Pacific region is growing expeditiously.  The market growth owes to the stupendous development of medical base. The impressive diagnostics solutions and treatment facilities in countries like China, Japan, and India in APAC are also contributing to the market expansion.  Moreover, the growing cancer patient population in the region can subsequently   the tissue array market growth in the coming years.    

Factors that are likely to constraint the Middle East and African region tissue microarray market are political loopholes, disoriented medical foundation, and lack of awareness about advanced treatments.  However, certain regions like Qatar and Kuwait are pressing ahead initiatives to bring improvements in the healthcare domain. This can shoot up the growth curve of the regional market.

           

Surgical Blades Market to Surpass a Valuation of $535 Million by 2025

Market Overview:

Surgical blade can be defined as a small, sharp, and bladed instrument that can be used to cut skin or tissue. These surgical blades can be of both types like reusable and disposable. The manufacturing component for these blades is either stainless steel or carbon steel. The use of these surgical blades varies greatly as diverse operations require specific blades to produce the maximum result. Disposable blades are quite popular as they prevents any contamination.

The Surgical Blades Market would record a CAGR of 7.4% between 2019 to 2025, which can also be considered as the forecast period for the market. Market Research Future (MRFR) predicts a surpassing of USD 535 Million in 2025.

Competitive Landscape:

·         Swann Morton Limited,

·         Hillrom Services Inc

·         Huaiyin Medical Instruments Co

·         Kai Corporation

·         Surgical Specialties Corporation

·         Shanghai Medical Instruments (Group) Ltd

·         GEISTER MEDIZINTECHNIK GmbH

·         Hu-Friedy

·         KAWAMOTO CORPORATION

·         PL Medical Co

Segmentation:

·         The global market for surgical blades can be segmented on the basis of material, product type, end user. These segments carry significant amount of information regarding the market influencers, volume, and value.

·         By product type, the market for surgical blades incorporates big sterile and non-sterile surgical blade.  The sterile surgical blade segment is holding the bigger share of the market. Non-sterile surgical blade is all set to become the fastest growing segment in the coming days.

·         By material, the market for surgical blades can be segmented into stainless steel and high-grade carbon steel. The stainless-steel segment is dominating the market. On the other hand, the high-grade carbon steel market is set to make significant progress in the coming years. 

·         By end user, the market report for surgical blades can be segmented into clinics, hospital, and nursing centers.

Regional Analysis:

The market in the Americas has better chances for progress in the coming years owing to the robust infrastructure of their healthcare sector. The region is known for its significant spending in the healthcare sector. Several manufacturing companies are also from the region who are contributing notably in the regional market growth. The regional market can be segmented into North and South. The North has the US and Canada to contribute the most to the market’s growth due to high expenditure in the segment.

Europe’s growth would be similar to that of North America. Both these regions share same kind of market features owing to which the growth pattern would be alike. Several players from the region are contributing significantly to the regional market growth. Countries like France, Germany, the UK, and others are expected to make sure the regional market grows.

The market in Asia Pacific can be termed as the fastest growing one in the regional segment due to the increasing development in the healthcare sector. Also, the hike in the number of patients availing the treatment is expected to maintain similar kind of growth in the coming years. The hike in the number of patients suffering from different chronic diseases has grown significantly in the recent years, which can spur the regional market intake of the surgical blade. India and China are expected to play crucial roles in transforming the regional market.

The market in Middle East and Africa (MEA) is deemed to find growth in the coming years with a substantial market rate, which would also inspire the regional market presence.

Elastography Imaging Market is Augmented to Consume a Phenomenal Double-Digit CAGR of 11.1% During Forecast 2019-2025

Market Highlights:

Elastography is a medical imaging method that plots the elastic properties of soft tissue to stipulate the diagnostic data during surgery. The elastography imaging market is fueled by numerous factors such as growing demand for minimally invasive procedures to diagnose and treat different chronic diseases, along with the rising prevalence of life-threatening diseases. However, the high cost of the systems is expected to curb the growth of the elastography imaging market.

It is estimated that the global Elastography Imaging Market is expected to register a CAGR of 11.1% during the forecast period of 2019 to 2025, with a market value of USD 2,538.2 million in 2018.

The global elastography imaging market is currently dominated by numerous market players. The key players are involved in new product launches and strategic collaborations to strengthen its market position. For instance, in February 2019, Esaote launched the MyLabX8, an ultrasound platform to support hospitals and clinics. Also, in November 2018, Canon Medical Systems Corporation introduced Contrast Vector Imaging (CVI) to provide additional information on liver hemodynamics and expand the use of contrast-enhanced ultrasound on its premium ultrasound system.

Key Players:

·         Canon Medical Systems Corporation

·         Siemens AG

·         Fujifilm Holdings Corporation

·         Esaote, Resoundant Inc

·         Hitachi Ltd

·         Mindray Medical International Ltd

·         Koninklijke Philips N.V

·         Samsung Electronics (Samsung Medison)

·         Supersonic Imagine

Segmentation:

·         The global elastography imaging market has been segmented based on modality, application, and end user.

·         The market, based on modality, has been bifurcated into ultrasound, and magnetic resonance elastography. The ultrasound segment is expected to hold a major share in the market, owing to the high advantages of this type of modality. The magnetic resonance elastography segment is anticipated to be the fastest growing due to the wider availability and rising adoption rate.

·         The market, by application, has been divided into radiology/general imaging, cardiology, obstetrics/gynecology, urology, vascular, orthopedic & musculoskeletal applications, and others.

·         The market, by end user, has been classified as hospitals & ambulatory surgical centers, diagnostic centers, research laboratories, and others.

Regional Analysis:

The market in the Americas is likely to lead the global elastography imaging market during the assessment period owing to the increasing per capita healthcare expenditure, and the heavy adoption of new technology in the region. Additionally, the increase in the insurance coverage and improving reimbursement scenario in the US and Canada are also projected to drive the growth of the market.

Europe is expected to hold the second largest position in the global elastography imaging market. The market growth in this region is because of the presence of a well-established healthcare system, an increase in life-threatening diseases, and the active involvement of major players. For instance, in May 2017, Esaote expanded its ultrasound sales team in the UK.

The market in Asia-Pacific is projected to have a steady growth rate during the forecast period owing to the increasing number of patients with chronic diseases and government initiatives for healthcare reforms. However, a decrease in capital investment is restricting the market growth of this region.