Healthcare & Medical Devices
A synopsis of healthcare 3D printing market outlining some of most path-breaking innovations indicative of the expansive industry growth
U.S. Healthcare 3D Printing Market Share, By Technology 2013-2024 (USD Million)
3D printing first came to the fore in 1986, known by the name of ‘stereolithography’. The technology had not garnered popularity back then, however, it has become prevalent since the onset of the 21st century, marking the genesis of healthcare 3D printing industry commercialization. Today, 3D printers are being deployed heavily across the medical space, to create medical device prototypes, dental applications, medicine models, surgical prototypes, and more, thereby creating lucrative growth avenues for healthcare 3D printing market investors. The medical fraternity, in particular, has been the recipient of numerous innovations in 3D printing, subject to the widespread advantages that the technology offers. For instance, a 3D-printed prototype can be specifically customized and used by surgeons to try out a specific procedure on patients, in a risk-free environment, it helps reduce surgery cost, enables medical simulation, helps determine the best tools for surgery, and to identify possible complications. The medical space, already reeling under immense pressure with regards to optimal performance and reduced costs, will stand to gain unprecedented benefits from this good-as-gold technology, as per experts. In the event that it witnesses the predicted propulsion, 3D printing in healthcare market will observe a meteoric rise over the coming seven years.
As per estimates, healthcare 3D printing industry has been projected to cross a valuation of USD 2 billion by 2024. This is indeed an appreciable growth prediction, considering that the market was valued at USD 450 million in 2016. The application of 3D printing in healthcare industry is thus, certain to depict an upward growth trend, as is evident from the robust 3D printing innovations being conducted across the medical and pharma sectors, such as 3D-printed skin for burns, 3D splints for babies, and 3D dental implants. It comes as no surprise therefore, that healthcare 3D printing market may record a CAGR of 20% over 2017-2024.
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A comprehensive detailing of the ground-breaking innovations and organizational efforts that may revolutionize healthcare 3D printing industry:
The application of 3D printing in healthcare market heavily leans toward prosthetics, customized implants, & bioprinting. In 2015, a team of doctors at the Bengaluru-based Sakra World Hospital performed India’s supposedly first endoscopic surgery on a 5-month old girl with fused skull bones, with a 3D-printed helmet that exerts pressure on the required parts of the skull. The party behind this marvel had been Osteo3D, a phenomenal upstart in healthcare 3D printing industry, that had designed a personalized helmet for the surgery. Today, this tenderfoot in healthcare 3D printing market designs 3D-printed prototypes for surgeries, dental implants, maxillofacial surgeries, and neurosurgeries, and has contributed its models for more than 350 surgeries so far.
Recognizing the need for high-grade 3D printing in healthcare industry, the National University of Singapore Centre for Additive Manufacturing plans to develop, enhance, and deploy 3D printing technology in the medical sector, with reference to which the institute has launched a new knowledge center worth USD 18 million. The highlighting factor in this agreement is that four major conglomerates – Osteopore International, Creatz3D, Forefront Additive Manufacturing, and Dou Yee Enterprises have signed MoUs with the center. This is indicative of the robust penetration of 3D printing in healthcare market across various geographies.
As recently reported by the Dubai Health Authority, a 60-year old woman from Oman suffering from cerebral aneurysm underwent a complicated surgery that was met with unexpected success, which can be solely credited to the creation of the 3D model of the patient’s brain. The complexity of the patient’s condition prompted the doctors to create a state-of-the-art 3D prototype of her brain dilated arteries that allowed them to understand how to plan the surgery using the safest, low-risk approach. Touted as one of most brilliantly articulated approaches for complex surgeries, 3D printing will transform the perspective of doctors toward operations, which will tantamount to an upswing in healthcare 3D printing market share.
Aspect Biosystems, a Canada-based biotech firm has recently declared a partnership with DePuy Synthes Products Inc., with an aim to reinvent the growth curve of 3D bioprinting and by extension, effectuate developments in healthcare 3D printing industry. Facilitated by Johnson & Johnson, this agreement states that Aspect’s massive 3D bioprinting platform will be used to develop a 3D-printed knee meniscus for surgical therapy, that will act as a cushion between the shinbone and the thighbone. Considering the ever-growing pool of elderly patients suffering from osteoporosis, surgical treatment of a torn meniscus via 3D printing will garner positive acclaim worldwide, leading to the widespread commercialization of 3D printing in healthcare market.
Shrewdly leveraging on the profitability quotient of 3D printing in healthcare industry, Italy-based OXYDO has collaborated with Materialise NV and the Safilo Group to manufacture 3D printed eclectic eyewear brands. Marking the preface of a revolutionary trend in both, healthcare 3D printing industry and eyewear market, OXYDO proudly showcased its eyewear collection recently, depicting frames using less material. OXYDO’s eyewear range combines the classic frame styles with modern silhouettes by means of 3D printing, setting a precedent for other healthcare 3D printing market giants to follow.
How the future looks like for healthcare 3D printing industry:
Numerous other innovations prevalent across healthcare 3D orienting market include the creation of 3D-printed skin, 3D-printed ears, as recently developed in Scotland for Microtia-affected kids, and even 3D-printed hearts, liver, and other vital organs. While the scenario looks very promising, it does have its share of flaws, given that every patient has a distinguished genetic system.
Several questions regarding the credibility and conformity of this technique have been raised by consumers and experts alike. The deployment of 3D printing in healthcare market, for most parts, is still in the experimental stages, while for many other sub-verticals, the technology has already been implemented, and has met with transcendent success. Some of the essential factors that may have a profound consequence on healthcare 3D printing market are the type of materials used for 3D printing, the cost of printers, and the convenience factor of the methodology used for implementing the software. Despite having depicted a commendable success rate in many vital application arenas, healthcare 3D printing market has not yet gone mainstream. However, analysts have forecast global 3D expenditure to surpass USD 28 billion by 2020, a major chunk of which will be procured by the medical sector. All in all, the potential for 3D printing continues to remain colossal, and expert consensus specifically gestures toward the notion that healthcare 3D printing market will bring about conspicuous revolution across the medical fraternity in the many years to come.
Author Name : Saipriya Iyer
Esoteric testing market to accrue substantial gains through oncology & endocrinology testing over 2017-2024, industry to be governed by a stringent regulatory groundwork
IDbyDNA’s recent collaboration with Arup Laboratories marks the continuity of the successful growth path carved out by Esoteric Testing Market over the last few years. With this partnership, both the companies aim to collectively develop and commercialize next-generation sequencing infectious disease tests that are relatively more accurate and comprehensive than their conventional counterparts. The initiative is also expected to combine laboratory medication with sophisticated science and genomics and bring forth the advantages of precision medicine to infectious diseases, thereby eventually strengthening the position of both companies in global esoteric testing industry.
Germany Esoteric Testing Market Size, By Test Type, 2013-2024 (USD Million)
A vital sub-sphere of the clinical testing spectrum, esoteric testing market has been gaining massive prominence of late. This is evidenced by the valuation of this business space in 2016 – the industry stood at USD 18 billion then. Esoteric testing basically involves the analysis of molecules that are not carried out in routine clinical testing. The tests are often outsourced by large commercial labs to reference labs, for the sake of clarity and convenience. Lately, a massive surge has been observed in the outsourcing framework, which is a positive indicator of esoteric testing industry expansion.
It needs to be noted that these tests are customized and are ordered only in the event when a patient or the physician feels the requirement of additional information related to the disease, perhaps to diagnose a disease, decide the course of treatment, monitor a therapeutic regime, or decide a prognosis. Esoteric testing market is characterized by the requirement of a highly skilled workforce and sophisticated instruments, owing to which these tests are outsourced to specialized laboratories. With the increased prevalence of diseases related to the fields of immunology, genetics, oncology, toxicology, endocrinology, microbiology, serology, and molecular diagnostics, the demand for esoteric testing has shot up by a few notches, owing to which esoteric testing industry size is likely to cross a valuation of USD 35 billion by 2024.
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Recently, Roche partnered with the LabCorp Center for Esoteric Testing, to establish the first U.S. site that offered commercial testing services. The testing is expected to be carried out with Roche’s new cobas® 8800 system, which has been designed to automate the overall molecular diagnostics testing process with PCR (polymerase chain reaction) detection. This high-throughput molecular system has already been approved by the FDA and other regulatory bodies, and will stand to offer substantial benefits to both companies, augmenting their position in global esoteric testing market.
It is noteworthy to mention that esoteric testing industry is highly controlled by regulatory bodies, owing to the delicate, sensitive nature of the tests. One of the key medical disciplines for which esoteric testing market is experiencing profound demand is that of oncology. This can be successfully credited to the unpredictable and terminal nature of the disease. Estimates claim esoteric testing industry size from oncology to cross a revenue of USD 6.5 billion by 2024, owing to the rise in demand for customized medication and the increase in the number of rare cancer disorders. The launch of tests such as UroVysion FISH and PTEN/ERG FISH for oncology will also help to augment the growth of esoteric testing industry from oncology.
Genomics is forecast to be another prominent segment of esoteric testing market demonstrating heavy growth potential over 2017-2024, and is heavily dependent on regulatory approval. Recently, the FDA approved Merck’s Keytruda drug to treat gene-based cancer, which has been possible only due to esoteric tests.
Another recent instance demonstrating the importance of approval norms in esoteric testing industry is that of Strand Life Sciences receiving regulatory sanction. The genomic profiling company’s Next-Generation Sequencing laboratory, called the Strand Center for Genomics & Personalized Medicine, has received accreditation certificates from the National Accreditation Board for Testing & Calibration Laboratories (NABL) and the College of American Pathologists (CAP). The regulatory approval will strengthen the position of the firm in global esoteric testing market, given that this facility is the first and only one of its kind in India that can boast of receiving two prestigious approvals.
In the future, the rapid rise in the demand for esoteric tests may lead to the requirement of qualified staff. This may act as a possible hindrance for the growth of esoteric testing industry, as experts predict that the total number of available clinical laboratory technicians may not be able to fulfill the demand for skilled staff. However, the restraint may be overcome with regulatory bodies and educational institutions taking initiatives to train the required employee pool.
All in all, two prime factors that can be considered as major drivers of esoteric testing market are the growing trends toward personalized medicine and the plethora of norms enforced by governmental bodies. The former especially, has penetrated across major geographies, especially the United States, and is expected to substantially influence the dynamics of esoteric testing industry. Additionally, huge investments are being made across the globe in the proteomics and genomics sectors to conduct high-tech research & development activities, which will eventually accelerate the business growth.
Author Name : Saipriya Iyer
U.S. breastfeeding accessories market to witness significant growth over 2017-2024, Breast milk bottles to dominate the product landscape
Breastfeeding Accessories Market has been gearing up at a rapid pace since the last few years with the rigorous initiatives by several governmental and non-governmental organizations regarding the benefits of breastfeeding. Implementation of stringent codes and legislations that prohibit the advertising of breast milk substitutes has been acting in favor of the business expansion. As per estimates, globally, around 135 countries have registered under International Code of Marketing of Breastmilk Substitutes. Today, a majority of the female population demand a work life balance. Working mothers comparatively get lesser time to feed their infants and rely on technology based solutions like breast pump. In this regard, it is important to note that breast pump market is forecast to surpass USD 1.6 billion by 2024, which is expected to leave a proportional impact on breastfeeding accessories market commercialization as well. Industry biggies are highly focusing on strategies such as mergers and acquisitions and advanced product developments to have a better hold over the competitive landscape.
U.S. Breastfeeding Accessories Market size, By Product, 2013-2024 (USD Million)
Statistics claim breastfeeding accessories industry to record a double-digit growth (10%) over the period of 2017-2024, with a target valuation of over USD 1.4 billion by 2024. The U.S has always proved itself as a lucrative growth ground for major markets globally. In this case, technological proliferation is amongst the many factors that has played a pivotal role in the regional breastfeeding accessories industry augmentation. Increasing working female population with hectic schedules and lack of proper maternity leaves have impelled the market growth in U.S. A large number of lactation consultants and breastfeeding advocacy groups spread around the nation have further complemented the business expansion.
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India breastfeeding accessories industry has been also carving a lucrative road map over the past few years. Significant economic development that has resulted in rising disposable incomes is ensuring the growth prospect of the market in this region. In addition to this, increasing awareness concerning the benefits of breast feeding along with numerous initiatives undertaken both by private and public sectors have fueled breastfeeding accessories market adoption. Germany breastfeeding accessories market will also witness lucrative gains over 2017-2024.
Implementation of policies like WHO code along with other supportive initiatives undertaken by renowned organizations encouraging breastfeeding have indeed provided a significant impetus to breastfeeding accessories market. Over the years, the industry has expanded remarkably which is quite evident from its diversified product spectrum including sore nipple cream, nursing pads, breast milk storage bags, breast shells, nipple shields, cleaning pads, and breast milk bottles. Breast milk bottles led the product landscape in 2016 and are likely to continue their domination in the global industry over the coming seven years. Owing to their appropriate design, these bottles are quite feasible both for normal feeding purposes as well as through breast pumps. Breast milk storage bags also procured a major portion of the breastfeeding accessories industry. Greater convenience, low cost, compact size, and disposable pattern are some of the factors favoring the product demand.
The business landscape of breastfeeding accessories market has massively evolved over the recent years, pertaining to the technological interventions that have contributed toward the expansion of the product portfolio. Despite the associated high costs, lack of proper awareness, and product substitutes posing as potential threats to the industry penetration across a few regions, breastfeeding accessories market is anticipated to make a headway in the coming seven years, primarily due to the rigorous involvement of business players in R&D activities. Ardo Medical, Medela, Bailey Medical, Koninklijke Philips, Büttner-Frank, Linco Baby Merchandise Works, Hygeia Health, and Mayborn Group are some of the leading companies involved in breastfeeding accessories industry.
Author Name : Satarupa De
Health intelligent virtual assistant market to surpass the billion-dollar frontier by 2024, speech recognition technology to gain prominence over 2017-2024
The plethora of technological advancements plaguing the globe will contribute toward the robust growth of health intelligent virtual assistant market. Implementation of advanced technologies is likely to simplify critical problems in the healthcare sector, which will subsequently increase the productivity and efficiency of the medical space, thereby stimulating health intelligent virtual assistant industry size. As per the market study, Health Intelligent Virtual Assistant Market was valued at USD 180 million in 2016 and will record an annual growth rate of above 31% over the years ahead.
Germany health intelligent virtual assistant market size, by technology, 2013-2024 (USD Million)
Japan being a tech-oriented country, has been projected to contribute more than USD 110 million toward regional health intelligent virtual assistant market. With a rapid increase in the occurrence of strokes and hypertension among the aging population across this region, mobile assisted services such as telehealth and mobile health are gaining popularity among consumers, which will augment the regional health intelligent virtual assistant industry share.
Increasing technological revolutions such as the emergence of IoT across the globe is certain to propel the product demand. IoT has been particularly favoring health intelligent virtual assistant industry share across UK. The country is witnessing the utilization of advanced healthcare technologies to increase the speed and accuracy of medical care operations. On that note, UK health intelligent virtual assistant market is slated to collect considerable revenue by the end of 2024. The implementation of favorable government norms will also impel the regional growth.
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Speech recognition, one of the most foremost technologies, led the overall health intelligent virtual assistant industry by covering a share of more than 60% in 2015 and will register an annual growth rate of above 32% over the coming seven years. This technology is gaining popularity among the consumers owing to the deployment of smartphones. The implementation of this technology in HER will undeniably aid physicians to improve their working efficiency and productivity.
Text-to-speech is another lucrative technology segment of health intelligent virtual assistant market that is forecast to generate a revenue of more than USD 460 million by 2024 with a CAGR of above 30% over the years ahead. Cost effectiveness pertaining to the quality of the speech along with effective and efficient medical communication will augment the industry growth. Payers have been mainly using this technology to offer best services to the customers. In this regard, health intelligent virtual assistant market share from payers is slated to exhibit an annual growth rate of more than 30% over 2017 to 2024. Payers have also been making heavy investments to develop healthcare infrastructure, which will help to protect the patient’s data and enhance interoperability.
U.S. dominated North America health intelligent virtual assistant market by accounting for over 90% of revenue contribution in 2016 and will exhibit considerable annual growth rate over the years ahead. Growing adoption of tablets and smart phones have led to the escalating usage of mobile based healthcare services. In addition, the growing emergence of new technological developments will also enhance the industry growth.
In order to bring about an increase in the operational efficiency and deliver effective services to consumers, many of the hospitals have been deploying these virtual assistants on a large scale. Physicians have also been using this product to tackle emergency cases. On that note, health intelligent virtual assistant market size from providers will collect a revenue of USD 820 million by 2024, having held a substantial portion of the revenue share in 2016.
The key players in health intelligent virtual assistant market are Nuance Communications, eGain Communications Pvt Ltd., Next IT Corp., CodeBaby Corp., Google, Inc., Microsoft Corporation, and True Image Interactive.
Author Name : Sunil Hebbalkar
Healthcare laboratory informatics market to cross the billion-dollar benchmark by 2024, U.S. to drive the regional landscape
Over the years, the escalating growth of healthcare laboratory informatics market has been highly influenced by the surging requirements of laboratories to comply with a plethora of regulations. The healthcare space that has been witnessing a paradigm shift from volume to value-based model is adding a renewed dynamism to the market. The growing volume and complexity of clinical data are necessitating the requirement of advanced HTS (high throughput screening) and UHTS (Ultra high throughput screening) solutions that can efficiently derive meaningful insights. In addition to this, increasing integration of lab automation in contract manufacturing and research organizations have significantly accelerated healthcare laboratory informatics market commercialization.
U.S. Healthcare Laboratory Informatics Market Share, By End Use, 2013-2024 (USD Million)
The emergence of digitization and big data analytics is providing a major push to healthcare laboratory informatics market outlook, which is projected to exceed a revenue of USD 1.8 billion by 2024, with 9.5% CAGR projection. This is quite evident from the increasing adoption rate of cloud computing technology in the healthcare organizations lately. Cloud computing technology enables customized services via internet such as disease monitoring, providing alerts to patients about the risks, and geospatial mapping. Advancement in virtualization and increasing access to high-speed internet at low cost is allowing healthcare organization to readily adapt these advanced technological solutions, leaving a subsequent impact on healthcare laboratory informatics market dynamics.
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The renewed healthcare fraternity where cost effective value-based models have become imperative, the industry giants are vigorously exploiting the potential growth prospects of the market. Strategic acquisitions, geographical expansion, and business partnerships are some of the major strategies adopted by the companies to maintain their position in the global healthcare laboratory informatics industry. Leading companies are also integrating informatics solutions to have a competitive edge in the competitive business landscape. Abbott Informatics, Perkin Elmer, Thermo Fisher, Perkin Elmer, LabVantage, LabWare, Lablynx, and Core Informatics are some of the top companies witnessing a strong ground in the overall healthcare laboratory informatics market.
Based on the product trends, LIMS (Laboratory Information Management Systems) dominated the global share in 2016. The prime trigger that is enhancing the LIMS based healthcare laboratory informatics market share is its increasing deployment in biobanks. Increasing proliferation of integrated healthcare solutions that require advanced systems to manage a chain of services such as online request management, data security, regulatory compliance, client billing, and patient demographics have significantly increased healthcare laboratory informatics market demand. Other than LIMS, scientific data management systems are also expected to chart an appreciable growth in the years ahead, with a CAGR projection of 9% over 2017-2024.
Overall, healthcare laboratory informatics market share from services observed a notable surge in 2016, covering almost half of the overall volume. The trend is likely to continue in the same line over the coming years, subject to its low internal IT resource requirement and comparatively lower capital investment. Software based market will also witness substantial growth, driven by the increasing demand for technologically evolved scientific data integrated software solutions in clinics and hospitals. Having said that, it is imperative to note that clinics will cover a major portion of the healthcare laboratory industry share in the coming seven years. Growing incorporations of laboratory informatics for health information tacking and quality assurance is further fueling the overall industry trend.
Regionally, healthcare laboratory informatics market has spread its wings mainly across China, U.S., and Germany. The expanding healthcare IT industry in these nations remains the common ground for the regional market growth. Germany’s increasing adoption of cost-effective workflow management system has led the country to achieve a global domination in the overall healthcare laboratory informatics market in 2016. China market will also carve a positive growth chart in the years ahead subject to the ongoing research investments undertaken by both private and public agencies along with spreading healthcare awareness.
Laboratories play a pivotal role in the latest healthcare outcome – based business model. Laboratory information coupled with its scientific data integrated solutions have now become a vital component in the healthcare IT. Despite the fact that healthcare laboratory informatics industry is characterized by some of the major challenges such as unavailability of skilled and trained personnel and instructors that might hamper the industry’s growth path, yet the rapid pace of technological developments and its imprint in medical space will bring a revolutionary change in the way healthcare laboratory informatics market has been perceived so far.
Author Name : Satarupa De
China automated immunoassay analyzers market to register the fastest growth in the regional landscape, advanced healthcare infrastructure to augment business expansion over 2017-2024
Renowned players operating in automated immunoassay analyzers market recently witnessed one of their co-participants, Thermo Fisher Scientific, the reputed American biotech company, launch a novel mass spectrometry-based clinical analyzer, called Thermo Scientific Cascadion. Known sources cite that the company has introduced this device as a tool that depicts the properties of convenient usage, robustness, and automation, as a combined characteristic that is far improved than that of a conventional immunoassay analyzer. With the launch of this product, Thermo Fisher Scientific has conveniently established itself as one of the global leaders operating in automated immunoassay analyzers industry. This business sphere is characterized by novel, technologically advanced product launches such as the aforementioned. Companies such as Siemens Healthcare, Abbott Diagnostics, Luminex Corporation, Biokit, Roche Diagnostics, and Biomerieux, which accumulate a major chunk of automated immunoassay analyzers market, have been focusing on expanding their product portfolio in terms of assay menu, automation level and test volumes, to come up with unique, innovative products and give a competitive edge to their rivals.
U.S. Automated Immunoassay Analyzers Market Size, By Product, 2013-2024 (USD Billion)
Automated immunoassay analyzers are basically deployed for carrying out various types of immunoassay testing for research and academic laboratories. They are used to test and diagnose infectious diseases, cardiological, endocrinological, and oncological diseases, and allergies. They are also used heavily for drug monitoring in hospitals and clinics, thereby augmenting automated immunoassay analyzers industry, slated to cross USD 25 billion with a CAGR projection of 15% over 2017-2024. While the product has a massive application spectrum, infectious diseases accounted for the largest chunk of automated immunoassay analyzers market share in 2016. This may possibly be a result of the rising incidences of diseases caused due to infections, especially across the emerging economies. For instance, pneumonia is the leading cause of around 2 million deaths annually, causing the death of 1 in 5 children below the age of five. Improved healthcare infrastructure and the growing incidences of infections will further impel automated immunoassay analyzers industry size from infectious diseases, anticipated to cross USD 7 billion by 2024.
Chemiluminescence is one of the prominent analyzers that is widely used in techniques such as protein blotting, pharmacological tests, toxicological tests, and immunoassays. Chemiluminescence accounted for the largest share in automated immunoassay analyzers market in 2016, and is anticipated to witness extensive growth over the coming seven years. This growth can be credited to its accurate diagnosis and high sensitivity. Chemiluminescence is used in clinical immunology for studying inflammatory responses, immune response against drugs & pathogens, autoimmune diseases, and endocrine disorders, in hospitals and laboratories. Another analyzer, abbreviated ELISA (enzyme-linked immunosorbent assay), is also expected to witness considerable demand, owing to its affordable costs for an extensive test menu. Automated immunoassay analyzers industry size from ELISA is anticipated to surpass USD 6 billion by 2024, subject to its widespread usage in diagnostic and research & academic laboratories.
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Speaking along similar lines, hospitals held the largest chunk of automated immunoassay analyzers market share in 2016, and will increase considerably over the coming years. This growth can be attributed to favorable healthcare related norms for delivering optimum medical care. Subject to the rising number of educational institutes and the benefits of automated systems, automated immunoassay analyzers industry size from diagnostic laboratories is expected to witness the maximum growth rate over 2017-2024.
Automated immunoassay analyzers market is slated to witness excellent growth prospects across myriad geographies. China automated immunoassay analyzers industry for instance, is projected to observe the highest gains over the oncoming seven years, primarily due to the massive patient base and enhanced healthcare infrastructure in the region. Besides, the penetration of leading manufacturers in APAC will provide multiple opportunities for the growth of regional automated immunoassay analyzers markets such as India and China.
The United States does not stand far behind when it comes to the expansion of automated immunoassay analyzers industry. U.S. accounted for more than 90% of North America automated immunoassay analyzers market in 2016, and is predicted to grow massively over the coming seven years, subject to the extensive adoption of automation trends and favorable government norms.
Automated immunoassay analyzers are heavily used in laboratories, hospitals, clinics to perform biochemical tests with a view to detect and predict the concentration of a substance in the test samples. Of late, small laboratories have been facing the brunt of increased costs, owing to the rapidly changing trends of automation. Since small labs do not adapt quickly to technological changes, protocol changes, staff training, and system revaluation, automated immunoassay analyzers industry has been facing a minor hindrance in terms of costs associated with the shifting of conventional products to automated product. In all likeliness, the constraint may be overcome if manufacturers strive to introduce suitable replacement systems or budget-friendly analyzer systems. In addition, manufacturers have been striving to focus on multiplex technologies using protein and peptide arrays to launch multi-parametric assays systems, thereby contributing toward the positive growth of automated immunoassay analyzers market.
Author Name : Saipriya Iyer
Hospital sector to drive medical fluid bags industry growth over 2017-2024, U.S. to majorly impel the regional landscape
The growing elderly population has led to the high prevalence of age-related ailments like bowel & urinary incontinence. Medical fluid bags market is expected to be driven primarily due to the aforementioned factor. Along similar lines, it is expected that the rapid increase in the number of surgeries, healthcare centers, and premature births are likely to offer massive business growth prospects for the industry players. There has been a considerable rise in the number of research activities in the medical space, which has led to the deployment of novel changes in the manufacturing process of medical bags. The latest products are designed to not only address patient safety but also environmental protection, which will boost the market trends. According to Global Market Insights, Inc., “Medical Fluid Bags Industry, which is estimated to cross the targeted revenue margin of USD 4 billion by 2024, will register a CAGR of nearly 7% over the period of 2017-2024.”
U.S. Medical Fluid Bags Market size, By Material, 2013-2024 (USD Million)
Medical fluid bags find wide range of applications across homecare settings, hospitals, diagnostic centers, blood banks, and clinics. Hospital sector, which dominated the application landscape in 2016, is foreseen to record a CAGR of over 7% during the period from 2017 to 2024. Beneficial compensation policies and high incidence of chronic ailments among the aging population will steer the product demand. Rise in the number of hospitals across the developing regions will further boost medical fluid bags industry revenue.
Medical fluid bags industry share in the blood banks sector is expected to experience an immense growth over the coming timeframe, owing to beneficial government sponsored schemes & programs to set up blood donation centers and organize blood donation camps. Escalated need for dependable cold chain facilities will further contribute toward the industry growth. Of late, patients have been depicting an inclination toward home treatments due to their inability to visit hospitals or clinics. This changing trend is predicted to favor medical fluid bags market development across the homecare settings sector.
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Considering the regional outlook, U.S. industry, which contributed a major chunk of global medical fluid bags market share in 2016, is projected to observe a massive growth over the coming seven years. The growth of the industry is highly impacted due to the rise in the number of blood transfusions coupled with the massive increase in the patient base suffering from chronic ailments.
Germany medical fluid bags industry, which made vast contributions toward Europe market share in 2016, is predicted to dominate the regional share over the years to come. Strategic collaborations between the key industry players across the region is predicted to stimulate the market growth.
China medical fluid bags market is projected to experience a massive surge over the next few years, driven by mounting healthcare awareness among the consumers coupled with the easy availability of low-cost medical bags. Mexico medical fluid bags industry is projected to sketch a profitable roadmap over the years ahead, driven by the escalating popularity of cosmetic surgeries along with improvement in healthcare facilities across the region.
Medical fluid bags market encompasses a wide range of products including enema, blood, dialysis, reagent, intravenous, drain, biohazard disposable, and breast milk bags. Drain bags, which held a major portion of medical fluids bags market revenue in 2016, are expected to register notable gains of more than 7% over the span of the next few years. Rise in the patient population suffering from kidney failure, prostate problems, and bladder issues are projected to boost the market growth. Breast milk bags are predicted to experience rapid expansion over the next few years as well, driven by the high surge in the birth rate and a rise in the proportion of working women.
Blood bags industry size is slated to record a commendable expansion during the coming timeline as a result of mounting awareness among the public pertaining to the growing significance of emergency blood transfusions and blood donations. An inactive lifestyle along with the rising need for rigorous medication of constipation-related ailments will fuel medical fluid bags market size from enema bags over the next few years. Intravenous bags are expected to boost medical fluid bags industry share as well. The growth can be attributed to the increase in the geriatric population who have been receiving intravenous nutrition treatment due to the inability to swallow and digest regular meals.
Based on the material trends, medical fluids bags industry is segmented into polyolefins, TPU, PVC compounds, and TPE materials. TPU medical fluid bags market is expected to witness a lucrative surge over the years to come, due to its favorable features such as high tensile strength, abrasion, and resistance to chemicals. High blood biocompatibility of thermoplastic elastomers over its counterparts has enhanced its demand for blood transfusion kits as well as blood bags, thereby driving TPE medical fluid bags industry size.
Polyolefins, which made a major contribution towards medical fluid bags market share in 2016, are expected to further boost the industry development in the near future. High thermal stability & impact and leaching resistance have helped catapult its demand as an ideal raw material for manufacturing medical bags. Its beneficial characteristics such as high elongation, low density & weight, and improved tear resistance, coupled with reduced costs will elevate medical fluid bags market size from PVC over the years to come.
C.R. Bard Inc., Baxter International Inc., Fresenius SE & Co. KGaA, Smiths Medical Company, Kawasumi Laboratories Inc., Thermo Fisher Scientific, B. Braun Melsungen AG, ConvaTec Group plc, and Amcor Limited are the key participants of medical fluid bags industry.
Author Name : Dhananjay Punekar