Healthcare & Medical Devices

Cancer biological therapy market to exceed the 100 billion-dollar mark by 2023, U.S. to be the key growth avenue

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Cancer is becoming a leading cause of death on a global scale, owing to which cancer biological therapy market has witnessed a significant surge over the recent years. According to WHO, over 14 million new cases and 8.2 million cancer related deaths was recorded in 2012. Furthermore, WHO also estimated new cancer cases to raise by 70% over the next two decades. Tobacco consumption is considered as the most prominent risk factor stimulating the cancer occurrence in people.

U.S. Cancer Biological Therapy Market size, by product, 2012 – 2023 (USD Million)

U.S. Cancer Biological Therapy Market size, by product, 2012 - 2023 (USD Million)

The growing geriatric population is more prone to cancer as per the statistics documented by ACS. Individuals aged 50 and above accounted for more than 86% of cases in the US. As per the reports, In US, more than 246,660 breast cancer cases and 180,890 prostate cancer cases had been diagnosed in 2016. This has considerably surged the global cancer biological therapy market share which was worth USD 61.3 billion in 2015. As per a report by Global Market Insights, Inc., Cancer Biological Therapy Market is estimated to cross USD 100 billion mark by 2023, by attaining a growth rate of 6% over 2016-2023.

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Cancer biological therapy uses the body’s immune system to fight cancer or to lessen the side effects. Cancer vaccines & monoclonal antibodies are among the most promising biological approaches toward cancer treatments. The antibody therapy has by far been the most thriving approach for the treatment of solid tumors and hematological malignancies. Over the period of 2016-2023, the bispecific monoclonal antibodies market is projected to grow at an annual rate of 6.5%, thereby fueling cancer biological therapy industry growth. The cancer vaccines market is also projected to grow at an annual rate of 17.2% over 2016-2023.

Japan contributes a major share in the Asia Pacific cancer biological therapy industry, subject to high prevalence of cancer in growing geriatric population base. The region covered more than 40% of overall APAC revenue share in 2015. Furthermore, China is also set to provide huge growth potential for cancer biological therapy market with favorable government policies and investment in R&D to innovate novel treatments. Strong governmental support and beneficial reimbursement policies will attract huge investments by the industry players to advance the manufacturing capabilities.

North America cancer biological therapy market is driven by a considerable increase in local and private funds for research and development activities. U.S. was the leading country accounting for more than 80% of North American revenue generation in 2015. Germany cancer biological therapy industry acquired a major revenue chunk of the overall Europe market in 2015. Favorable insurance policies in the region are expected to boost the industry share over the coming years.

Company players are majorly focusing on developing various innovative products with minimal side effects. Prominent companies are targeting on the invention of novel drugs to sustain their market positions. Encouraging governmental initiatives and funding have further created new growth avenues for the industry participants. Some of the key cancer biological therapy industry players include Bristol-Myers Squibb, Eli Lilly, Celgene Corporation, Seattle Genetics, Inc., Amgen Inc., GlaxoSmithKline Plc, Novartis International Ag, F. Hoffmann-La Roche AG, Spectrum Pharmaceuticals, Inc., and Merck & Co., Inc.

Author Name : Ojaswita Kutepatil

Antidiabetics market to witness substantial gains via the type II diabetic applications, APAC to emerge as one of the most promising growth avenues over 2016-2023

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Global antidiabetics industry is strongly characterized by the regulatory norms implemented by leading organizations such as the European CE and the FDA. These organizations undertake the responsibility of regulating the commercialization of antidiabetics in clinical trials. With the exponentially growing population and the prevalence of a sedentary lifestyle, a significant rise in the patient pool suffering from diabetes has been observed, which is likely to spur global Antidiabetics Market.

   Europe insulin antidiabetics market size, 2015 & 2023, (USD Million)

Europe insulin antidiabetics market size, 2015 & 2023, (USD Million)

The rising number of diabetic cases have prompted the governments across various geographies to take steps toward promoting awareness regarding this disorder. For instance, the ‘Diabetes UK’ is slated to launch one of the biggest campaigns to encourage consciousness regarding Type II diabetes. The program will also make people aware of the harmful consequences of developing diabetes, encourage them to get screened regularly, and provide other related details. Such campaigns and awareness programs are certain to bring about a positive influence on global antidiabetics market.

In consequence to the unmet medical requirements of the healthcare fraternity and the rapid increase in the diabetic patient base, antidiabetics industry players have been concentrating on increasing their funding on research & development activities with an aim to launch novel insulin products that will efficiently treat this persistent sugar disorder. Major companies such as Sanofi Aventis, Eli Lilly, and Novo Nordisk currently dominate global antidiabetic market, pertaining to their popular brand value, wide range of products, and increased R&D investments. Many antidiabetics products that are currently in the pipeline to be commercialized are manufactured by these companies. In addition, global antidiabetics industry involves the participation of other generic manufacturers such as Pfizer, Oramed Pharmaceuticals, Inc., Takeda Pharmaceuticals, Boehringer Ingelheim, and Merck & Co. Inc.

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According to a report generated by Global Market Insights, Inc., worldwide antidiabetics market size was valued for USD 51.1 billion in 2015, and is anticipated to surpass USD 116 billion by 2023, with a CAGR estimation of more than 10% over 2016-2023. Global antidiabetics industry already has a strong foothold across various geographies, and is expected to strengthen its position across the globe over the years to come. For instance, North America, in 2015, had covered more than 42% of the overall antidiabetics market share, with a valuation of USD 22.2 billion. The United States is a major contributor toward the regional revenue. As per estimates, in 2015, the U.S held the largest share of North America antidiabetics industry, pertaining to the availability of an estimated 24-million patient base, 23% of which were undiagnosed. Subject to the presence of high grade medical infrastructural facilities, increased healthcare expenditure, and a rather supportive reimbursement framework, North America antidiabetics market is expected to grow rather significantly over the forthcoming years.

Global antidiabetics industry is driven by sulphonylureas, DPP-4 inhibitors, SGLT-2, insulin products, alpha-glucosidase inhibitors, GLP-1 agonists, thiazolodinediones, meglitinides, and biguanides. Insulin occupies a lion’s share in the overall demand of antidiabetic products. Pertaining to the growing prevalence of diabetes, a subsequent increase in the diabetic patient pool, and increasing number of awareness programs, insulin antidiabetics market is expected to cross a valuation of USD 75 billion by 2023, with a CAGR projection of around 13.2% over 2016-2023.

Long acting analog insulin antidiabetics industry is expected to cross USD 40.9 billion by 2023, subject to the product popularity and the rapidly rising diabetic cases across the globe. Other products including DPP-4 inhibitors, GLP-1, and biguanides are projected to witness a growth rate of 7.2% over 2016-2023.

Regulatory and governmental bodies across the globe have been striving to increase public awareness regarding diabetes. For instance, the National Institute of Diabetes and Digestive and Kidney Diseases has undertaken several education campaigns such as ‘Small Steps, Big Rewards’, ‘Control your Diabetes for Life’, etc., to increase the importance of diabetic screening, diagnosis, and treatment, which will most certainly carve out a lucrative growth path for global antidiabetics market over the years ahead. Not far behind in the list of organizations is the American Diabetes Association, that has also launched several awareness programs regarding diabetes. In addition, the International Diabetes Federation, along with its member associations celebrate the 14th of November as ‘World Diabetes Day’, utilizing the 24-hour span to initiate awareness campaigns and other related programs. With a strong regulatory framework and governmental support, global antidiabetics industry will chart a profitable growth curve over the coming seven years.

Author Name : Saipriya Iyer

Pneumatic nebulizers market to cross the billion-dollar mark by 2023, Asia Pacific to drive the regional demand

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Pneumatic nebulizers market is slated to experience remarkable growth prospects, owing to the prominent product application in the medical and pharmaceutical space. The product is extensively used in the treatment of respiratory diseases. Consequently, the surging prevalence of asthma and COPD (chronic obstructive pulmonary disease) across the globe will stimulate pneumatic nebulizers industry size. As per the study, the global aging population was measured at 809.4 million in 2012. The fact that the elderly are more vulnerable to respiratory diseases will be a major driving factor for the development of pneumatic nebulizers market. As per the report by Global Market Insights, Inc., “Worldwide Pneumatic Nebulizers Market was valued USD 626.2 million in 2015 and will collect a revenue of USD 1.05 billion by 2023 with a CAGR of more than 6% over the period of 2016 to 2023.”

U.S. Pneumatic Nebulizers Market size, by product, 2012 – 2023 (USD Million)

U.S. Pneumatic Nebulizers Market size, by product, 2012 - 2023 (USD Million)

Of late, automation and the emergence of IoT have resulted in surging technological advancements, which has led to the development of various high-end products. The availability of such products is likely to contribute toward the quick and effective treatment of many disorders, which will favor pneumatic nebulizers market growth. The U.S. is expected to invest heavily in technological developments over the coming timeframe, pertaining to which U.S. pneumatic nebulizers market will exhibit considerable annual growth rate over the years ahead, having held a revenue of USD 200 million in 2015. The growth can be attributed to the favorable initiations taken by government to create awareness among the people about the benefits of early respiratory disease treatment. Moreover, easy availability and the heavy utilization of technologically enhanced portable products will propel the industry growth notably.

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Portable pneumatic nebulizers market will generate substantial revenue with an annual growth rate of 7.5% over the coming six years. The growth can be attributed to escalating need of corticosteroid/ bronchodilator combination therapies which are prominently used in the treatment of respiratory diseases such as COPD. Europe pneumatic nebulizers industry will surpass a revenue collection of USD 300 million by 2023, owing to the growing prevalence of respiratory disorders across this region. Germany will be the prominent revenue contributor.

Shifting trends of the consumers toward the adoption of cost effective treatment along with compatibility of the product with different types of compressors will boost the demand for vented pneumatic nebulizers. Vented pneumatic nebulizers industry will collect a revenue of more than USD 700 million by 2023 with a total sale of over 7.5 million units. The rising number of patients suffering from respiratory disorders across the developing countries will fuel the product demand considerably.

Asia Pacific pneumatic nebulizers market will generate a significant revenue with a CAGR of 8% over the coming timeframe. The attributing factors toward the market growth are lack of pollution control norms and the rapidly changing lifestyle. Japan, India, and China will be the prominent revenue contributors of APAC region.

Industry giants are planning to expand their global presence by investing significant capital into low and middle-income countries. Mergers and acquisitions are the few growth strategies adopted by the market players. The noteworthy participants in pneumatic nebulizers market are Philips Respironics, Becton Dickinson, Omron Corporation, DeVilbiss Healthcare, ARI Medical, Heyer Medial AG, Briggs Healthcare, and Salter Labs.

Author Name : Sunil Hebbalkar

U.S. holographic imaging market to witness a sharp growth over 2017-2024, huge presence of numerous industry players to augment the regional demand

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Holograms are on the verge of penetrating deeper into the medical fraternity. Holographic Imaging Market is likely to experience a steep growth over the next few years, subject to the extensive product application in medical academia, medical imaging, and healthcare research. Many companies have been developing holographic technologies for biomedical imaging. For instance, Zebra Imaging, a renowned Texas-based holographic imaging industry player, has developed the ZScape Holographic Motion Display, a technology that is designed to produce true holograms. Through this technology, Zebra Imaging intends to prove that holography can substitute for the lack of cadavers in medical schools. The company has even partnered with the Zygote Media Group with an intention of getting this technology commercialized and deployed at major medical schools across the United States. Similar efforts by other companies, such as EchoPixel, RealView Imaging, and NanoLive is likely to propel holographic imaging market, slated to cross a revenue of USD 3 billion, with a CAGR anticipation of 30% over 2017-2024.

U.S. Holographic Imaging Market size, By Product, 2013-2024 (USD Million)
U.S. Holographic Imaging Market size, By Product, 2013-2024 (USD Million)

Of late, the holography technology has been increasingly adopted by research institutions, surgeons, and biomedical scientists, pertaining to the fact that holograms allow doctors to undertake extensively minute colonoscopies virtually, eliminating the need of a physical testing procedure. They also help detect serious issues with sensitive organs such as the brain, the abnormalities of which are particularly difficult to interpret. In addition, the increasing prevalence of cardiovascular and neurological disorders among the growing global geriatric population will spur holographic imaging market trends.

Technological advancements that have taken place in holographic technology and the rising availability of medical devices for interpreting the holographic interferograms will enhance the end-use landscape of holographic imaging industry. Subject to its high-grade interpretation techniques, this technology finds applications in ophthalmology, urology, pathology, and orthopedics, thereby stimulating the demand for holographic imaging market.

Large-scale corporations operating in holographic imaging industry engage in novel product launches coupled with the deployment of the latest technologies, to stay ahead of their rivals. Recently, toward the end of 2016, renowned holographic imaging market player Holoxica had launched a holographic 3D digital human anatomy atlas prototype, that has given clinicians and neuroscience medical experts an insight into the detection, diagnosis, and treatment of neurological disorders. Notable participants of holographic imaging industry include NanoLive, Mach7 Technologies, Holoxica, RealView Imaging, Echopixel, and Ozivio Imaging Systems.

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Biomedical research dominated the application landscape of holographic imaging market in 2016, pertaining to the advancements occurring in holographic interferometric techniques that are utilized heavily in biomedical applications. Biomedical research uses holography to provide 3D digital holograms of various cells, organs, and DNA. Besides, this technology helps create 3D holograms of myriad biomedical datasets, which will stimulate holographic imaging industry.

Holography is extensively deployed across the field of medical education, as it enables medical students to understand the anatomy of the human body with a 3D view. Growing deployment of this technology across medical academia for studying the complex images of the nervous, vascular, and musculoskeletal systems will accelerate the holographic imaging market.

The United States has always been at the forefront as far as the technological advancements in holographic imaging are considered. In 2016, in fact, the U.S. accounted for the largest chunk of regional holographic imaging industry, subject to the extensive research undertaken by the numerous universities and academic & research institutes in the region and the presence of market players such as Zebra Imaging and EchoPixel. Increasing number of initiatives undertaken by biomedical research institutes will further complement the regional holographic imaging market, especially for medical imaging applications.

The healthcare fraternity has been increasingly adopting holography, since it has practically revolutionized the techniques of diagnosis and treatment for cardiovascular and neurological disorders. On these grounds, holographic imaging industry from medical imaging applications will witness a significant growth over the forecast timeframe.

Holographic display accounted for the largest product segment in 2016, pertaining to the increasing application of 3D holographic display. Thus, holographic imaging industry from holographic display products is anticipated to grow at a CAGR of 30% over 2017-2024, subject to the increasing usage of 3D holography in medical education. Another lucrative product segment, holographic microscopes, are also extensively utilized for 3D imaging. The significant growth in technologies such as image processing, numerical computation, and electronic detection will propel holographic imaging market from holographic microscopes.

Holographic imaging is heavily utilized across research organizations, biotech & pharma sectors, hospitals & clinics, academic medical centers. Pharma & biotech companies accounted for the largest share in holographic market revenue in 2016 and are predicted to depict excellent growth prospects over the years ahead. This growth can be attributed to the increasing adoption of advanced technologies and the acceptance of medical imaging for the diagnosis of numerous disorders, across various geographies.

Holographic imaging industry is in the process of strongly establishing its footprints across the globe. Geographically, Japan is one of the leading regions as far as the adoption of this technology is concerned. Subject to the increasing lifestyle changes, excellent healthcare facilities, rising expenditure on healthcare, and the availability of excellent technological training for medical education, Japan holographic imaging market is forecast to register an excellent growth rate over 2017-2024.  Other regions, such as Brazil, are not far behind either, as far as medical research on holographic imaging is concerned.

While holography, as a technology, has found widespread popularity and is a subject of research for scientists, its deployment as a full-fledged technique will face complications. This is primarily due to the high implementation costs and the lack of convenient accessibility. In addition, the existing holographic display technique has poor spatial resolution. These constraints can be overcome as more and more companies are coming up with highly advanced and cost-effective technologies, thereby propelling global holographic imaging market.

Author Name : Saipriya Iyer

Automated breast ultrasound system market to exhibit phenomenal growth in the U.S., Global share to exceed USD 2 billion by 2024

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Automated breast ultrasound system (ABUS) market has completely revolutionized the diagnostic approach of breast cancer. Increasing incidence of breast cancer across the world in the recent past has indeed propelled the market growth. ABUS has now become a full-fledged diagnostic approach adopted worldwide for the preoperative evaluation of breast tumors. Speaking of technology, subsequent intervention of advanced technologies has only enhanced its pivotal clinical role in the oncology department. A recent technological breakthrough, Invenia ABUS, is anticipated to shift the overall ABUS market dynamics to a new hike, grounding on its credibility of obtaining adjunctive breast images from different angles. Statistics depict that the usage of this system improves cancer diagnosis almost by 55% than mammography. Furthermore, regulatory approval from FDA for deploying automated breast ultrasound systems for supplement screening as an assistive method with mammography is expected to augment the market growth. As per a report by Global Market Insights, Inc., “Automated Breast Ultrasound System Market will witness a giant leap in terms of revenue from USD 285 million to USD 2 billion over a period of 2015-2024. It is also projected to record lucrative annual growth rate of 21% over the forecast span.”

U.S. Automated Breast Ultrasound System Market size, by Product, 2012 – 2024 (USD Mn)

U.S. Automated Breast Ultrasound System Market size, by Product, 2012 - 2024 (USD Mn)

U.S. prominently observes an increasing prevalence of breast cancer, which is why the market growth prospect in this region is huge.  It dominated the North America ABUS market in 2015 by contributing maximum share toward the regional industry in that particular year. Implementation of hi-tech breast screening methods, supportive government’s initiatives, reimbursement scenarios, and concentration of leading players are some of the factors that have complemented the business landscape of the country. China ABUS market is anticipated to mark a billion-dollar business landscape by 2024, by collecting USD 1 billion within next seven years. Amenability toward novel technology and spreading awareness about breast cancer treatment among the common folks is changing the market outlook in China. It covered almost 60% of the Asia Pacific ABUS market in 2015, and is likely to remain one of the major contributors also in the years ahead.

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Based on the product front, automated breast ultrasound system market is bifurcated into ABVS (Automated breast volume scanner) and ABUS. ABVS market is expected to witness maximum gains in the coming years. Since together ABVS in adjunct with mammography enables superior detection and evaluation of breast cancer, automated breast ultrasound system market growth from this product segment is expected to experience a surge in the years ahead. As per estimates, ABVS based market will exceed a revenue of USD 950 million by the end of 2024. Automated breast ultrasound systems held the largest share in 2015, by consuming 48% of the overall volume.  Quick turnaround time, accurate diagnostic results, cost affordability are some of the factors that will allow the market to record a revenue of USD 1.1 billion by 2024. Since these advanced systems are widely employed in hospitals, overall ABUS market from hospitals applications accounted for more than 60% of the overall volume in 2015. With the increasing availability of skilled professionals and improved funding in the hospitals, this sector is projected to chart a profitable roadmap in the years ahead at a CAGR of 21.2% over 2016-2024.

The business landscape of automated breast ultrasound system market has remarkably evolved in the past few years with technological involvements that have brought advanced innovative systems in the industry. Though high capital investment, unattractive reimbursement policies, and lack of proper awareness are hampering the market penetration in some of the nations, yet key market players’ continuous involvement in research activities will thrive the expansion in the years ahead. Some of the prominent ABUS industry participants include Siemens, SonoCine, General Electric Company, Toshiba, Hitachi, and Koninklijke Philips.

Author Name : Satarupa De

U.S. biosensors market to lead the regional hierarchy over 2016-2024, advanced healthcare infrastructure to favor the industry trends

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The commercialization scale of Biosensors Market has been commendable since the development of the first oxygen biosensor by Lel and Clark back in 1962. The remarkable penetration of this industry has been witnessed profoundly in the medical space. With the advent of tissue engineering, nanotechnology, and regenerative medicine, the application portfolio of the biosensors industry has expanded by multiple folds in the medical sector. In 2015, the medical applications contributed to approximately 66% of the overall biosensors market, holding a valuation of USD 9.8 billion. The growth is driven by the wide spectrum of biosensor applications in this sector comprising cholesterol monitoring, blood gas analyzer, blood glucose monitoring, drug discovery, and pregnancy testing. Among these, blood glucose monitoring held the largest share of the medical application landscape, driven by the increasing diabetic patient base globally. As per International Diabetes Federation statistics, the diabetic population is estimated to reach 552 million in 2030 which is a rather drastic increase from 366 million in 2011. As per the estimates, blood glucose monitoring segment of the medical biosensors industry is projected to surpass USD 15 billion by 2024.

U.S. Biosensors Market Size, By Application, 2012 – 2024 (USD Million)
U.S. Biosensors Market Size, By Application, 2012 - 2024 (USD Million)

With the growing popularity of portable, affordable, and user-friendly devices, biosensors market is witnessing a plethora of opportunities in the point of care (PoC) testing sector. As per the estimates, the PoC testing led the end-use landscape, having accounted for 47% of the overall industry share in 2015. The trend is likely to continue over the years ahead with the PoC testing segment contributing to a major chunk of the overall biosensors market space. Home healthcare segment is estimated to rank second in the end-use landscape of biosensors industry with an estimated CAGR of 8.5% over 2016-2024.

Being at the forefront pertaining to technological advancements, U.S. biosensors industry is projected to lead the global landscape over 2016-2024. The region accounted for 81% of the regional share in 2015. Besides technological developments, increasing prevalence of chronic ailments coupled with the heavy R&D investments and favorable regulatory scenario are the other pivotal factors driving the regional biosensors industry share.

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Asia Pacific will also profoundly influence the global biosensors industry scenario on account of the region witnessing swift economic developments as well as robust advancements in the overall healthcare infrastructure. Estimates claim the APAC biosensors market to register a CAGR of 11% over the period of 2016-2024.

In terms of technology, Electrochemical biosensors led the industry having held 71% of the overall revenue in 2015. The segment is forecast to surpass a revenue of USD 21 billion by 2024. Optical biosensors are also projected to make substantial contributions with a target CAGR of 8.7% over the period of 2016-2024.

The government initiatives are certain to play a significant role in the overall expansion of the biosensors market. The recent developments in the field of proteomics and genomics are likely to offer a huge set of opportunities to the overall industry. The technological intervention in this space is also providing a significant impetus to the biosensors market. Major IT companies such as IBM, TCS, and Infosys are heavily investing in this space to explore the untapped prospects. Some of the major biosensors industry players are Abbott Laboratories, Bayer Healthcare, Ercon Inc., EG & G IC Sensors, Strategic Diagnostics, Lifescan, Inc. Johnson & Johnson, and Sysmex Corporation. Pricing is one of the major parameters defining the hierarchy of these participants on the competitive scale. The industry is characterized by heavy R&D investments for the development of highly-efficient and compact biosensors, which are in sync with the robust technology advancements in this space.

Biosensors market has also established a remarkable footprint in the agriculture sector. As per the estimates, agriculture applications are estimated to record the highest growth rate of 11% over 2016-2024. Analyzing the current scenario and the fast-paced penetration of biosensors across myriad sectors, this industry is certain to witness a phenomenal growth trajectory over the years to come. Global Market Insights, Inc. forecasts the biosensors market to surpass a revenue of USD 29 billion by 2024.

Author Name :Shikha Sinha

Asia Pacific biopreservation market to witness fastest growth over 2016-2024, Regenerative medicine to drive the application landscape

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Integration of modern technologies in food processing to maintain the microbiological food safety standards is pushing biopreservation market globally. The market has been gaining a remarkable traction in the recent years as biopreservation defines an ecological approach that improves the safety and shelf life of the foods. Increasing consumption of precooked foods that are prone to temperature abuse has led to an increase in food related diseases across the world. Statistics depict that morbidity due to foodborne diseases accounts for a major portion. Not only lifestyle diseases, chronic illnesses like cancer, cardiovascular disease, hypertension has opened up new opportunities for biopreservation market growth. Heightening expenditures on medical services, increasing consumers’ disposable incomes, and the growing demand for regenerative medicines have significantly favored the overall biopreservation industry expansion. As per a report by Global Market Insights, Inc., “Biopreservation market is slated to record a double-digit annual growth rate of 13.4% over 2016-2024, with a projected revenue of USD 9.7 billion by 2024.

U.S. Biopreservation Market size, by product, 2012- 2024 (USD Million)

U.S. Biopreservation Market size, by product, 2012- 2024 (USD Million)

The favorable initiations by the government bodies in the form of funds, grants, and financial assistance have significantly accelerated research activities in the health care sector. Growing number of biobanks across the world for the preservation of DNA, stem cells, plasma, and tissue along with the increased acceptance of ART (assisted reproductive technology) is further complementing biopreservation market dynamics. The overall industry share from bio banking dominated the application landscape in 2015 and is anticipated to continue its prominence over 2016-2024. The combined efforts by the renowned regulatory bodies including WHO, FDA, and ISBER for promoting bio preservative facilities have further provided a major impetus to the biopreservation market.

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Asia Pacific market will chart a profitable roadmap from the bio banking sector. Increasing incidence of chronic diseases, spreading awareness about preservation of umbilical cord cells, and the unmet health care needs are the major driving factors thriving the regional biopreservation market. The region’s encouraging projects on biopreservation and bio banking are quite commendable. Some of the prominent organizations who are involved in these programs include Korea Bio-bank Project, Asian Cancer Research Group, China Kadoorie Bio-bank, International Cancer Genome Consortium, and Asian Pharmacoepidemiology Network. With China and India at the growth front, APAC biopreservation market is expected to witness appreciable growth in the coming time frame.  U.S. biopreservation industry is also estimated to attain substantial revenue over the years ahead, having had a dominant position in the global landscape in 2015.

Considering the product landscape, biopreservation equipment market led the industry in 2015, by accounting for almost 80% of the overall share. Growing deployment of biopreservation equipment in health care laboratories and research centers are the factors that can be given the credit for the market expansion. Other products of the market which represents a significant share encompass LIMS (laboratory information management system) and media. Biopreservation media market will also experience steady gains owing to the technical interference in tissue engineering and regenerative medicine. Overall biopreservation market from regenerative medicine is expected to record the highest growth over the coming seven years.

Mergers and acquisitions and product renovations are the major strategies adopted by the market players to sustain their position in the market. However, lack of proper regulations and funding with respect to medical data export in some of the geographies is hampering the market penetration in those regions. Nonetheless, the legislations pertaining to this market imposed by some of the renowned organizations like FDA will help biopreservation market to attain a remarkable valuation in the years ahead.

Prominent biopreservation industry participants include Thermo Fisher, Atlanta Biologicals, Lifeline Scientific, VWR International, and Biolife Solutions.

Author Name :Satarupa De