Mechanical Ventilators Market will Register a CAGR of 4.8% Between 2016 to 2024

The global market for mechanical ventilators was worth US$1.1 bn in 2015 and is poised to reach a value of US$1.8 bn by 2024, registering a 4.8% CAGR therein. In terms of volume, the mechanical ventilators market is projected to expand at a CAGR of 5.5% during the forecast period.

Transparency Market Research finds that the global mechanical ventilators market is characterized by the strong presence of a number of local and regional players. These companies are just as capable as global players in efficiently catering to the changing consumer needs and entering neighboring markets. However, regulatory requirements differing from country to country tend to restrict the entry of these players in several national markets. Nevertheless, large multinational players are entering into strategic partnerships or acquiring small start-up companies in order to match the competition in local markets for mechanical ventilators.

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Non-invasive Mechanical Ventilators Gaining Preference over Invasive Variants

By type of product, critical care mechanical ventilators contributed the most toward the global market. In terms of percentage share contribution, the segment is anticipated to account for a 48.2% share by 2024. The portable mechanical ventilators segment is expected to exhibit the strongest CAGR of 7.6% from 2016 to 2024 by value.

Based on mode, invasive mechanical ventilators presently form the leading segment of the global market. However, registering a rapid growth rate through 2024, the non-invasive mode segment is expected to reflect a gain in market share by the end of the forecast period. On the basis of end use, hospitals account for the major share in the global mechanical ventilators market in terms of revenue. Home healthcare, on the other hand, is forecast to register the highest growth rate by 2024.

From a geographical standpoint, North America is expected to account for a 39.7% share in the global mechanical ventilators market by 2024 and will continue its dominance during the forecast period. Asia Pacific is the most attractive market and is slated to expand at a CAGR of 5.5% from 2016 to 2024.

Increased Demand for Mechanical Ventilators in Hospitals and Trauma Centers

The World Health Organization reports that more than five million deaths are reported every year owing to chronic respiratory diseases. The deteriorating quality of air, particularly in countries where the economy is largely dependent on pollution-intensive industries, is one of the chief causes of the alarming spike in the prevalence of respiratory diseases, especially chronic obstructive pulmonary disease (COPD). This translates into an increased demand for medical devices, one of which is mechanical ventilators.

“On the backdrop of the constantly growing incidence of reported respiratory diseases, the demand for mechanical ventilators in hospitals and trauma centers has increased and, in recent times, catalyzed the sales of the same,” the author of the report states.

In contrast, the shrinking profit margins of manufacturers, intensive competitive rivalry, budgetary constraints faced by small healthcare facilities, and injuries associated with the prolonged use of ventilators threaten the growth of the global mechanical ventilators market.

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Key players in the global mechanical ventilators market include Dragerwerk AG & Co. KGaA, Philips Healthcare, GE Healthcare, Smiths Medical, Becton, Dickinson and Company, Fisher and Paykel Healthcare Limited, Getinge Group, Medtronic Plc, ResMed, and Hamilton Medical AG.

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Electrosurgical Devices Market Value to Reach US$7,963.2 Million by 2024

The global market for electrosurgical devices is highly fragmented and features a less intense level of competition owing to the presence of a large number of global as well as domestic players across key regional markets, observes a recent report by Transparency Market Research. Although entry barriers are low for new players, factors such as high level of fragmentation, intense price competition, rising R&D costs are factors that can impede growth prospects for new players.

North America to Remain Dominant Contributor to Global Revenue

Transparency Market Research estimates that the global electrosurgery devices market will exhibit a 6.7% CAGR over the period between 2016 and 2024. As a result, the market, valuing at US$4,480.8 mn in 2015, is expected to rise to US$7,963.2 mn in 2024. In terms of product type, the segment of electrosurgical accessories accounts for the dominant share. Geographically, North America leads and is expected to remain the dominant contributor of revenue to the global market over the forecast period as well.

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Government Investments to Improve Growth Prospects

Across key end-use areas including hospitals, surgical ambulatory units, and specialized clinics, the adoption of electrosurgical devices has increased at a significant pace owing to encouraging reimbursement policies and coverage of medical bills under medical insurance policies in a vast number of developed and developing countries. Provision of medical insurance enables those covered to adopt the best surgical options available without having to consider cost of surgery as a constraint. This is one of the key factor fueling the global demand for electrosurgical devices across the globe in the past few years.

The global market for electrosurgical devices is also chiefly driven by the rising focus on the improvement of health care systems in several developed countries. Government bodies are increasing funds invested towards the research and development of advanced medical treatments and target-specific surgical devices, projected to drive the global electrosurgical devices market.

Complications Associated with Electrosurgery to Hamper Market Growth

The possibility of occurrence of several electro-thermal injuries and post-operative complications owing to factors such as improper application of electrosurgery devices, failure of insulation, capacitive coupling, and direct coupling is one of the core challenges faced by the global electrosurgical devices market. More than half of these complications are associated with the entry technique of devices. According to a study conducted by the Society of American Gastrointestinal and Endoscopic Surgeons, the rate of occurrence of electrosurgical complications during delivery of energy to living tissue is nearly as high as 27%.

Moreover, growth of the market is also hampered owing to stringent quality and safety regulations governing the overall adoption and usage of these devices and the longwinded approval processes, which have discouraged electrosurgical devices manufacturers in developed countries. These market players, as a result, are focusing on growth opportunities across regions such as Asia Pacific and Latin America for new product launches.

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To capitalize the growth opportunities and strengthen their hold on the global market, leading players are focusing on development of new products and accessories with multimodality application and improved coagulation and cutting properties. A recent instance of this is the 2016 launch of APCapplicator electrosurgical handpiece by ERBE Elektromedizin GmbH. The device works for both vessel cutting and coagulation purposes and shows applications in open surgery and laparoscopy. Development of innovative multimodality systems such as robotic surgical systems, to make surgical procedures more precise and easy, is also a trending strategy in the market.

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Pyrogen Testing Market to Surge at a CAGR of 11.9% during the Forecast Period of 2016 and 2024

The players are determined to retain their presence in the global competition and contribute significantly to soaring revenues through the forecast period. According to the research report by Transparency Market Research, the opportunity in the global pyrogen testing market is expected to be worth US$1,527.8 mn by the end of 2024 as compared to US$570.0 mn in 2015. During the forecast period of 2016 and 2024, the global market is expected to surge at a CAGR of 11.9%.

North America to Show High Adoption of Pyrogen Testing between 2016 and 2024

Of all the geographical segments in the global market, North America is anticipated to show an incredible CAGR of 11.6% during the forecast period. This growth is being fueled by the majority of pharmaceutical investing in the region due to favorable support from the governments. Amongst the types of tests, the limulus amoebocyte lysate (LAL) test is expected to lead the market as it is poised to surge at a CAGR of 12.6% during the forecast period.

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Prevalence of Chronic Conditions Urges Pharmaceutical Companies to Develop New Drugs

The high prevalence of diseases and conditions that require innovative drugs for treatment has triggered a huge demand for pyrogen testing in recent years. The growing demand for biological drugs is also projected to boost the market. The robust pipelines and approvals of new drugs are also expected to help the global market grow in the coming few years. The emergence of biotechnology and pharmaceutical companies and their rising investments in research and development of innovative therapeutics have also played a crucial part in the rise of the global pyrogen testing market in the recent years. “The growing number of clinical researches to treat the hazardous evolution of infectious diseases and diseases pertaining to unhealthy lifestyle changes has pressurized the pharmaceutical industry to develop enhanced drugs,” states the lead author of this research report. As the epidemics and outbreaks continue, they are likely to provide an impetus to the global market during the forecast period.

The various types of tests available in the global market are recombinant factor C assay (rFC), monocyte activation test (MAT), limulus amoebocyte lysate (LAL) test, and rabbit pyrogen test (RPT). Of these, the limulus amoebocyte lysate (LAL) test is being extensively adopted by several drug manufacturing and development companies. Analysts anticipate that LAL will retain its dominance in the global market as it offers the best quality control. Thus, this testing method is being used for detecting the minute quantity of bacterial toxins or pyrogen in medical devices, pharmaceuticals, and other areas.

Ban on Animal Testing Shadows Growth of Global Market

The ardent efforts to ban the usage of animals for testing is the biggest restraint in the global pyrogen testing market. For instance, growing hue and cry over usage of rabbits for pyrogen testing has raised questions and thus is expected to hamper the testing possibilities in the coming years. The global market is also being hampered due to the demanding nature of monocyte activation test (MAT). This testing method requires fresh human blood, which poses as a logistics challenge and adds to the already expensive nature of testing.

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The global pyrogen testing market is exceptionally consolidated as a few players hold a dominant share in the overall market. The leading players, Thermofisher, Lonza Group, Charles River Laboratories International, Inc., and Merck KGaA, held a lion’s share of 51% in the global market in 2015. Transparency Market Research observes that these companies are expected to retain their leadership as they are focused on development products that are do not require rabbit pyrogen testing along with strategic mergers and acquisitions.

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Hospital Acquired Infection Treatment Market Value to Reach an Estimated US$36.61 Billion by 2024

According to a research report released by Transparency Market Research, the highly fragmented global hospital acquired infection treatment market holds a medium level of competition for players of all sizes. Key players are locked in rivalry for the development of treatments for alternative molecule therapies and multi-drug resistant pathogens. At the same time, the threat of new entrants to the existing market is very high, owing to the growing demand for enhanced therapeutics, despite the high entry barriers set by strict regulatory frameworks and capital intensive research and development. The global hospital acquired infection treatment market was valued at US$28.99 bn at the end of 2015 and is expected to expand at a CAGR of 2.7% within a forecast period from 2016 to 2024. By the end of 2024, this market is expected to reach an estimated US$36.61 bn.

The global hospital acquired infection treatment market in 2015 was dominated by a handful of players, including Abbott, Pfizer, Inc., Merck & Co., Inc., and Bayer AG. The market is currently in a state of battle with the growing count of generics available in the world, owing to an incoming wave of patent expirations. This could create a problem for players trying to maintain favorable profit margins.

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Growing Geriatric Population Propels Nosocomial Treatment Demand in Developed Economies

“There is a multi-tracked set of drivers that are currently augmenting the global hospital acquired infection treatment market. Each driver is directly or indirectly linked to the other. Of the many factors in favor of the market’s growth, the leading factor has to be the growing geriatric population. The elderly – due to their lower physical immunity – are incredibly prone to infections and especially nosocomial ones. Therefore, the growing population of the geriatric is a serious factor that needs to be accounted for within the global hospital acquired infection treatment market,” states a TMR analyst.

Other factors driving the global hospital acquired infection treatment market include the overall condition of healthcare organizations in emerging economies. Their generally lower levels of hygiene, infrastructure maintenance and sterilization techniques are creating a very high demand for nosocomial infection treatments. Countries from Asia Pacific, for instance, are currently showing to be leading in terms of growth rate of demand, thereby attracting several prominent players in the global hospital acquired infection treatment market.

Multi-drug Resistant Bacteria Complicating Market Scenario in Nosocomial Infections Treatments

A key restraint acting on the global hospital acquired infection treatment market currently, is the steady increase in the rate of failures in treatment caused by the growing number of multi-drug resistant bacteria. Given a frequent rate of survival of bacteria after being exposed to drugs that are designed to eliminate them, they are known to develop resistance to them, pressuring the healthcare industry to seek alternative treatments or other forms of drug treatments. There is a growing rate of multi-drug resistant bacteria affecting patients and these infections can prove to be heavily detrimental to a patient’s recovery cycle or even be fatal for them.

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“Key players in the global hospital acquired infection treatment market are more likely to have multiple drugs in the pipeline, the approval of which can be a shot in the arm for the market. The focus on HAIs is increasing at a fast rate in emerging economies as well, giving rise to a massive untapped market for patients from the lower and middle income classes. These avenues can prove to be fruitful for players currently established in the global hospital acquired infection treatment market, as well as new entrants in emerging economies,” adds the analyst.

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Dental Consumables Market to Rise at a CAGR of 6.1% Between 2016 and 2024

According to Transparency Market Research, the global dental consumables market is expected to be worth US$33.4 bn by the end of 2024 as compared to US$19.6 bn in 2015. During the forecast years of 2016 and 2024, the global market is expected to surge at a CAGR of 6.1%.

Europe to Acquire a Share of 41.1% by 2024

The various products available in the global market are crowns and bridges, dental implants, orthodontics, retail dental care essentials, periodontics, endodontics, and dental biomaterials among others. Amongst all of these products, the crowns and bridges segment is expected to show remarkable progress in the coming years. This segment alone is expected to rise at a CAGR of 7.2% between 2016 and 2024.

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Geographically, this market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Europe is anticipated to lead the global market in the coming years due to improving oral health care facilities across countries such as Norway, Greece, Spain, and the U.K. By the end of 2024, Europe is projected to acquire a share of 41.1% in the global dental consumables market by 2024.

Improvements in Dental Implants Assure Uptake

The emergence of services such as dental tourism in developing countries of India, Turkey, and Hungary have triggered a massive demand for dental consumables over the past few years. The low cost of oral health care services provided in these emerging economies has lured in several consumers over the past few years for treatment. The low labor cost, effective treatment methods, and minimum government intervention pertaining to healthcare industries in developing countries are expected to boost dental tourism, which in turn is expected to have a positive reflection on the demand for dental consumables.

The improving success rates of dental implants, especially for the upper jaw is also likely to play a crucial role in the development of the global market. This has led to increased uptake of several procedures that use dental implants. The market is also thriving due to the growing incidence of dental diseases such as tooth decay, gum diseases, tooth erosion, and mouth sores. Furthermore, high prevalence of periodontal diseases have also fueled the growth of the global dental consumables market. The rising disposable incomes in emerging economies and changing lifestyles, which have inclined patients toward improved oral health care, are expected to drive the demand for dental consumables.

High Cost of Treatment and Poor Reimbursement Policies Restrain Market Growth

The increasing expenditure on the research and development of dental consumables has spiked the prices of products. Thus, the high cost of products has also made the treatment costlier, which is likely to have a negative impact on the sales. The poor reimbursement policies of in developed countries of France, the U.S., Germany, Spain, Italy, Australia, and Japan is also hampering the growth of the overall market as it is coaxing patients to migrate to cheaper places to seek treatment.

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The leading players operating in the global dental consumables market held a share of 62% in the overall market. Danaher Corporation, Dentsply Sirona, Zimmer Biomet Holdings, Inc., and Henry Schein Inc. have been leading the market due to their low pricing strategy and excellent brand recognition, states Transparency Market Research. These players are expected to focus on mergers and acquisitions to improve their presence in the global market.

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Molecular Diagnostics Market will Reach to US$18.9 Billion by 2025

According to the research report, the global molecular diagnostic market is estimated to reach a valuation of US$18.9 bn by the end of 2025 as compared to US$7.1 bn in 2016. Between the forecast years of 2016 and 2025, the global market is estimated to expand at a steady CAGR of 11.6%.

Well-established Healthcare Infrastructure in North America Bodes Well for Regional Market

On the basis of technology, the global molecular diagnostics market is segmented into PCR and real-time PCR, hybridization, microarray, transcription-mediated amplification, next-generation sequencing, and others such as mass spectrometry. Of these, the PCR and real-time PCR technology segment is anticipated to show a significant progress during the forecast years. This segment is projected to expand at a CAGR of 11.1% between 2016 and 2025. The extensive usage of this technology is expected to play significant role in its growth.

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On the basis of geography, the global molecular diagnostics market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Of these, North America is estimated to account for a share of 39.6% in the overall market by the end of 2025. This segment is likely to thrive due to the changing demographics, high prevalence of cancer, evolving lifestyles, and well-established healthcare infrastructure.

Investments in Research and Development Ensure Uptake of Molecular Diagnostic Kits

The global molecular diagnostic market is anticipated to be driven by the growing investments in research and development of biomarkers. The increasing uptake of biomarkers for diagnosis and prognosis as well as prediction and assessment of ongoing has augmented the demand for molecular diagnostics. Several kits designed for molecular diagnostics allow safe, quick, and accurate detection of infectious diseases such as HIV and hepatitis. Thus, the growing interest of big companies in expanding their business through developing biomarker solutions is expected to benefit the overall market.

The continuous evolution in the field of molecular biology has changed the way diseases are being diagnosed and treated. The new methods have the ability to detect bacteria, viruses, and genetic variations in less time in with absolute precision. Thus, the upgrades in technology, which have significantly customized health care have boosted the demand for molecular diagnostics in recent years. Analysts also predict that the wide range of technologies for diagnosis of diseases will give the global market a shot in the arm during the forecast period.

Poor Awareness and Low FDA Approvals to Restrain Market Growth

The long lead time for FDA approvals for molecular diagnostics is severely restraining the growth of the global market. Molecular diagnostics haven’t had a clinical impact on medical practice as was predicted earlier as delays in approvals have created potential hurdles. The market is also being hampered due to the poor reimbursement policies. The low awareness and lack of clarity pertaining to the diagnostic techniques used for detecting various injections and chronic conditions is a key challenge to the growth of the overall market.

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The global molecular diagnostics market is highly consolidated in nature, observes Transparency Market Research. The leading players accounted for a share of 54% in the overall market in 2015. F. Hoffman-La Roche Ltd., Abbott Laboratories, and Danaher Corporation have dominated the global market in the past few years. The broad product portfolio and strategic mergers and acquisitions have been the winning strategies of these players to remain dominant.

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North America Aesthetic Services Market will Reach a Valuation of US$28.1 Billion by 2024

As per the findings of a recent report by Transparency Marker Research (TMR), the aesthetic services market in the region of North America is highly competitive among some of the key companies, including Dermatology Solutions Group, Advanced Dermatology & Cosmetic Surgery, Cosmetic & Aesthetic Plastic Surgery Clinic Toronto, and Riverchase Dermatology and Cosmetic Surgery. A number of companies functional in the North America aesthetic services market are focused on innovating new products with increasing investment on technological advancements pertaining to the development of minimally invasive treatment, which are not only less painful for the patients but also reduce the duration of hospital stay.

The TMR report projects the demand in the North America aesthetic services market to increment at a healthy CAGR of 7.70% during the forecast period of 2016 to 2024, reaching a valuation of US$28.1 bn by the end of 2024, significantly up from its evaluated worth of US$14.4 bn in 2015. The report anticipates the volume of the demand to nearly double by 2024, estimating it to account for 22 million procedures. Though hospitals remain primary end-users, growing number of dermatology and cosmetic centers is expected to escalate the demand substantially in the near future. The U.S., the third most populous country in the world, is expected to remain the most profitable country-wide market for aesthetic services in the region of North America, with Canada a distant second.

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Demand for Breast Enhancement Escalating

Based on services type, the TMR report segments the North America aesthetic services market into surgical services including skin tightening, body contouring, facial contouring, and facial rejuvenation, non-surgical services including dermabrasion and microdermabrasion, dermal fillers, and laser treatment, and reconstructive procedures including breast enhancement, burn repair surgery, and tissue expansion. In the recent past, breast enhancement and facial contouring sub-segments have gained significant demand, whereas the advent of injectable products and novel mechanical devices for noninvasive procedures have increased the demand for skin tightening and removal of unwanted fat.

On the basis of end-users, the report categorizes the North America aesthetic services market into hospitals, dermatology clinics and cosmetic centers, and ambulatory surgery centers, and projects dermatology clinics and cosmetic centers category to expand at the most prominent CAGR of 8.60% during the forecast period of 2016 to 2024.

The U.S. Serves Maximum Demand

The U.S. and Canada, collectively, contribute to more than 95% of the demand for aesthetic services in the region of North America, with the developed country of the U.S. the main country-wide market. Growing awareness among the consumers, improvement in the medical and healthcare infrastructure, and the prevalence of skin diseases are some of the key factors augmenting the demand for aesthetic services in the country of the U.S.

Growing Consumer Awareness Driving Demand

The North America aesthetic services market is gaining traction from a number of factors, such as growing adoption of minimally invasive and noninvasive aesthetic procedures, rapidly increasing population of the geriatrics, increasing awareness among the customers regarding the cosmetic procedures, technological advancements in energy-based aesthetic devices, growing demand from men, and the availability of user-friendly aesthetic devices. On the other hand, stringent safety regulations and low focus on the development of devices for dermatological conditions are somewhat hindering the market from attaining its true potential.

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Malaysia Medical Tourism Market will Reach US$3.5 Billion by the End of 2024

The medical tourism industry in Malaysia is booming, which contributed to the fierce competition among the leading market players. Because the market is heading towards its maturity, a majority of the prominent enterprises are looking to offer dynamic changes in their services and products to keep reporting sustainable growth. Despite the presence of a large number of companies, the medical tourism market in Malaysia still exhibits a high degree of consolidation, with the leading players holding the crux of the market, finds Transparency Market Research (TMR) in a new report.

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Some of the leading companies exhibiting a strong presence in the Malaysia medical tourism market are KPJ Healthcare Berhad, Prince Court Medical Centre, IJN Health Institute, Sunway Medical Centre, and Island Hospital. These institutions are focusing on emerging dominant by expanding their geographic footprint. Enhancing their foreign customer base has therefore become a key tactic for enterprises looking to establish a stronghold in the Malaysia medical tourism market.

According to TMR, the medical tourism market in Malaysia is forecast to expand a whopping 30.05% CAGR between 2016 and 2024. At this incredible pace, the market will reach US$3.5 bn by the end of 2024, from a valuation of US$424.96 mn in 2016.  Approximately 36.6% of medical tourists availed dental treatments in 2016, making it a leading market segment. Besides this, the market also witnessed considerably high demand in aesthetics/cosmetic surgery procedures and health screening segments.

Lucrative Government Incentives to Continue Bolstering Opportunities 

Low cost of medical services, compared to the same offered in developed economies of North America and Europe is the chief factor luring foreign medical tourists to Malaysia. Besides this, persistent government activities to boost the sector will synergize the country’s medical tourism industry. “With the rising influx of medical tourists from MENA and neighboring countries, the medical tourism market in Malaysia is poised to surge exponentially in the coming years,” said a lead TMR analyst.

The accelerated pace of gains witnessed in the medical tourism market in Malaysia is contributed by excellent macro-economic factors such as the increasing government programs promoting medical tourism, excellent transport facilities, and decent recuperation facilities. For instance, to boost medical tourism, the Malaysian government offers varied tax incentives, especially on the revenue generated from foreign patients. “In 2009, the government offered tax exemption of 50% on revenues earned from foreign patients, which was later increased to a whopping 100% by the end of 2010,” said a lead TMR analyst. Moreover, medical tourism is considered as one of the 12 national key economic areas (NKEAs) in Malaysia, which is a chief driver of the market.

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Medical Inflation Poses Threat to Market’s Growth

On the downside, medical inflation recorded in 2015 and a slight drop in the number of medical travelers could have an adverse influence on the market. Besides this, the market is already witnessing challenges from low revenue generated per patient, soaring healthcare costs, and the mounting burden on Malaysia’s healthcare system. Nevertheless, Malaysia is positioned as a preferred destination for medical travelers, which has potentiated the country’s medical tourism market.

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Personalized LASIK Surgery Market Attains a Value of US$2.6 Billion by 2024

According to a new research report by Transparency Market Research (TMR), the global market for personalized LASIK surgery is highly consolidated in nature with a limited number of players operating it. The top five participants in this market, namely, Alcon, Abbott Medical Optics, Carl Zeiss, NIDEK, and Bausch & Lomb, accounted for 87% of this market in 2015. The diverse product portfolio, rising geographic penetration, and the robust product pipelines are the key factors behind the monopoly of these players on this market.

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The market demonstrates an extremely competitive landscape and the rivalry between the leading players is likely to intensify further in the forthcoming years. As the market consists of a few key participants, a continued price war is expected between them, which consequently, will prompt them to enter into contracts with their end users, strengthening their relations. Mergers and acquisitions are also projected to take place frequently in this market in the near future, states the report.

As per TMR’s estimations, the global market for personalized LASIK, which was worth US$1.6 bn in 2015, is likely to expand at a healthy CAGR of 5.60% during the period from 2016 to 2024 and attain a value of US$2.6 bn by the end of the period of the forecast. Among all the end users, the hospital segment emerged as leading contributor to the global market for personalized LASIK surgeries in 2015 and is anticipated to maintain its position throughout the forecast period.

North America to Maintain Dominance through 2024

The report further offers a geographical assessment of the worldwide market for personalized LASIK surgery. It considers Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa as the key geographical segments of this market. As per the study, North America dominated the global market in 2015 with a share of 45%. The continual increase in the geriatric population, rising prevalence of vision related disorders, and the augmenting awareness regarding the treatments of these disorders using laser technique have surfaced as the key factor behind the growth of the North America market for personalized LASIK surgery. Thanks to the emergence of novel technologies, growing prevalence of ocular disorders, and the escalating utilization of LASIK surgeries by ophthalmologists in the corrective treatments for vision disorders, this regional market is anticipated to hold its position throughout the forecast period.

Asia Pacific, on the other hand, is expected to emerge as the most promising regional market for personalized LASIK surgery in the years to come. The rising population of elderly people, increasing cases of myopia and presbyopia, and the significant surge in investments from key market participants for setting up a robust distribution channel are boosting the Asia Pacific market for personalized LASIK surgery. In addition, the availability of low cost treatments for vision disorders and the upturn in the medical tourism are projected to boost this market significantly in the near future, notes the research study.

Rising Incidence of Myopia and Astigmatism to Boost Demand for Personalized LASIK Surgeries

According to a TMR analyst, “the demand for personalized LASIK surgeries is directly influenced by the prevalence of various vision defects among people across the world.” The rising incidence of myopia and astigmatism, the most common eye disorders, has created significant growth opportunities for market players and corrective treatment providers. Along with this, the swelling pool of presbyopia patients is also impacting the demand for these surgeries greatly, resulting in a considerable growth of this market.

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On the other hand, the rise in the reports of post-surgery complications in eyes and the high cost of advanced ophthalmology systems may limit the uptake of personalized LASIK surgeries to some extent over the coming years. However, the emergence of new ophthalmic technologies are expected to neutralize the effect of these restraints on this market in the years to come, notes the research study.

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Peptide Therapeutics Market to Rise to a Valuation of US$46.6 Billion by 2024

The global market for peptide therapeutics has been dominated by Teva, Novo Nordisk, Eli Lilly, and Sanofi, states Transparency Market Research (TMR) in a research report. These players collectively held a share of over 75% in the global peptide therapeutics market in 2015. These market players are directing thorough research and have taken up different improvement activities to highlight their particular shares in the overall industry, which is probably going to build the competition inside this market, states the research report.

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According to a TMR analyst, “The global market for peptide therapeutics was pegged at US$21.3 bn in 2015 and is expected to rise to a valuation of US$46.6 bn by 2024. The market is expected to expand at a 9.10% CAGR from 2016 to 2024.”

Immunopeptides to be in High Demand

The report breaks down the worldwide market for peptide therapeutics on the premise of various market parameters. One among them is the kind of molecule, in view of which, the market has been arranged into somatostatin, natriuretic, vasopressin, calcitonin, and immunopeptide. On account of the expanding use of immunopeptide for the treatment of a few conditions, for instance, tumors and cancers, the immunopeptide segment has been enlisting a higher development than others.

Since the treatment of these maladies is complex, more ventures is being made by the key market players in innovative development of various different treatments, among which the immuno treatment is the most supported one. This, thus is foreseen towards positive development of the immunopeptide segment soon, takes note of the investigation.

Region-wise, the report sections the overall market for peptide therapeutics into the Middle East and Africa, Europe, North America, Latin America, and Asia Pacific. In 2015, North America procured the main position in the worldwide market with a share of over 38.8%. It is anticipated that this region will hold its position over the time of the conjecture, because of the infrastructural headways in the healthcare and medical industry. The rise of peptide therapeutics as an exceptionally intense medications for the treatment of malignancy and different ailments and the prevalence of market leaders in the U.S. are additionally anticipated to help the North America market for peptide therapeutics in the coming years.

Rising Use of Peptide for Treatment of Cancer to Bolster Adoption

The core reason behind the substantial growth of the global market for peptide therapeutics is the growing prevalence of cancer. As indicated by the WHO, almost 7 million individuals face death from cancer consistently and there will be more than 16 million new growth cases each year by 2020. Since chemotherapy is confronting significant difficulties because of its powerlessness to convey the right measure of medication directly, the utilization of peptides in tumor treatment has expanded, opening new roads for future development.

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Going ahead, the rising rate of metabolic issue is probably going to make lucrative prospects for the players operating in the global peptide therapeutics market in the years to come. In any case, the absence of administrative models may confine the market from developing throughout the forecast period.

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Umbilical Cord Blood Banking Market will Exhibit a Strong CAGR of 11.4% by 2025

Transparency Market Research estimates that the global umbilical cord blood banking market, which valued at US$3,124.4 mn in 2016, will exhibit a strong CAGR of 11.4% from 2017 to 2025, reaching an estimated value of US$8,178.1 mn in 2025.

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The vendor landscape of the global umbilical cord blood banking market is highly fragmented owing to the presence of several small scale vendors, with the top three vendors collectively accounting for a meagre 7% of the market in 2016, observes Transparency Market Research in a recent report. The rising number of private cord blood banking companies in the global market is expected to make the market further competitive. Although the market is fragmented, it is highly regulated, on domestic as well as international fronts.

Some of the leading players in the market are CBR Systems, Inc., ViaCord Inc., China Cord Blood Corporation, Cord Blood America, Inc., Cryo-Cell International, Inc., Cryo-Save AG, Cordlife Group Ltd., Vita 34 AG, LifeCell, and StemCyte Inc.

Private Blood Banks to Remain Most Preferred Storage Option

In terms of type of storage, the global umbilical cord blood banking market earned a large share in its overall revenue from the private cord banks segment. The segment accounted for a massive

65.0% of the global market in 2016 and is expected to remain the dominant segment despite high initial as well as yearly costs incurred for the processing, testing, and storage of cord blood units in private banks. The high level of assurance and security to cord blood provided by private banks, the provision of complete ownership rights to the donor, and flexible collection sites are some of the key factors compelling end-users to prefer private cord banks instead of public cord banks.

North America presently dominates the global umbilical cord blood banking market, accounting for over 38% of the global umbilical cord blood banking market in 2016. The North America market is expected to exhibit strong growth in the next few years due to the increasing demand for stem cell research and public awareness about cord blood banking. Demand for cord blood banking in North America is high in the U.S., which held 83.8% market share in 2016, followed by Canada.

Rising Rate of Hematopoietic Stem Cell Transplantation Drives Market

The key factors encouraging expectant parents to preserve cord blood include the vast rise in the rate of hematopoietic stem cell transplantation, the vast advancements in cord blood processing and storage technologies, increased awareness about stem cell therapy, and increase in applications of cord blood cells in treatment of various diseases. The market expanded at a rapid pace in the past decade also due to the active role of public and private bodied in educating the parental population about the process and benefits of cord blood banking.

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Umbilical cord blood is a rich source of primitive hematopoietic stem cells. Therefore, it has a strong regenerative potential for stem cell-based therapy for the treatment of non-hematological and hematological diseases. Umbilical cord blood is also used as an alternative to bone marrow treatment.  Hematopoietic stem cell transplantation is the treatment of stem cells, usually derived from peripheral blood, bone marrow, or umbilical cord blood. The transplantation is mostly performed for the treatment of bone marrow or blood cancers. Increasing incidences of cancer along with adoption of stem cell treatment in developed countries such as the U.S., the U.K., and Germany have boosted the demand for umbilical cord blood banking, which, in turn, is expected to propel the market.

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Bariatric Surgery Devices Market Value is Envisaged to Hit US$1,7441.1 Million by 2025

The global bariatric surgical devices market is predicted to witness a number of players contending to make their presence known in the industry. Transparency Market Report (TMR) has recently published a study that identifies some of the leading names in the bariatric surgical devices market across the world. Among these names are some key players such as Apollo Endosurgery Inc., Ethicon Inc., Allergen Inc., and EnteroMedics Inc. The global market is expected to be a highly competitive one, and the market participants are anticipated to face ample rivalry in trying to establish themselves at the top. These enterprises are contemplated to focus on their technological advancements and research, to upkeep their industry position.

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The report published by TMR foretells that the global bariatric surgical devices market is likely to rise at a CAGR of 9.3% during the forecast period 2017-2025. While the market stood at US$798.3 mn in 2016, it is envisaged to hit US$1,7441.1 mn by 2025. North America is predicted to be the leading region in terms of market share on account of rising FDA approval against bariatric procedures.

Closure Devices Segment to Showcase High CAGR, Being Minimally Invasive

The international bariatric surgical devices market may be segmented on the basis of the type of device, and by the end user. The device type segment sees further division into sub-segments, among which, the closure device segment is anticipated to witness a strong CAGR.  In 2016, suturing devices held dominant market share. However, the forecast period is expected to foresee higher popularity of closure devices. Closure devices are minimally invasive, require instant closure of the incision made during surgery. Due to these advantages over other devices, the closure devices segment is predicted to register tremendous growth.

Geographically, North America is anticipated to be the leading region in terms of performance in the worldwide bariatric surgical devices market. This position could be acquired by the region due to accruing obesity issues, junk food consumption, sedentary life choices, and increasing instances of diabetes and sleep apnea. Europe is expected to be another significant region contributing to market share, due to enhanced health care facilities and spending capacities on wellness and health.

However, on account of rising economies, and in turn changes in lifestyle, consumption of convenience foods, and economic prosperity may contribute to Asia Pacific turning out to be the fastest growing region in the market.

Sedentary Lifestyle and Rising Health Concerns to Provide Lucrative Market Opportunities

The global market for bariatric surgical devices is predicted to rise on account of a number of factors, providing ample market opportunities. The rising prevalence of obesity among people in developed and even developing nations is a primary factor providing growth opportunities to the bariatric surgeries market. Prevalence of obesity and rising health concerns along with increasing spending abilities are leading to higher demand of bariatric procedures. Moreover, there is and increasing demand of the procedures to be less-invasive. There has been a steady rise in qualified surgeons over the years, leading to competitive availability. The growing awareness among people about the health risks of obesity, and governmental initiatives to provide coverage for these surgeries is also a huge contributing factor.

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Bariatric surgeries are slated to be on the costlier side. Lack of proper awareness among the masses, and still lower amount of people having disposable incomes could be the considerable challenges faced by the market. However, with the industry players contributing to study of co-morbidity surgeries, and rising innovations in the medical field are expected to overcome the mentioned restraints to market growth. June 2015 witnessed an investment of US$3.2 mn toward a study changes in bile acid induced by endobarriers, by GI Dynamics Inc and GSK. Initiatives by market players is expected to go a long way in market opportunities and growth.

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OTC Consumer Health Product Market to Increment the Demand at a CAGR of 3.6% by 2025

A recent market intelligence study by Transparency Market Research (TMR) has detected that the global over-the-counter (OTC) consumer health products (powder form) market is divided among a number of prominent players, facing significant competition from several local and domestic players. Some of the key companies identified by the report who currently hold substantial position in the global OTC consumer health products are: Sun Pharmaceuticals Ltd., Abbott Laboratories, GlaxosmithKline plc, Pfizer, Inc., Johnson & Johnson, Piramal Enterprises Ltd., Ipsen, Sanofi S.A., Bayer AG, American Health, and Glenmark Pharmaceuticals Ltd. The report projects the global OTC consumer health products (powder form) market to increment the demand at a CAGR of 3.6% during the forecast period of 2017 to 2025, reaching a valuation of US$40.6 bn by the end of 2025.

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The TMR report observes that the major players of powder form OTC consumer health products have adopted the inorganic growth strategy to strengthen their position in the market. In addition to that, these market leaders are joining hands with local vendors in order to expand their presence in the rural areas of emerging economies to serve to the unmet needs of the population and stay ahead of the competition. Moreover, the unavailability of defined literature for the efficacy of these products is aiding to the research and development activities, and bodes well for the future of the players who invest on new and innovative products.

North America Most Lucrative Region

Based on indication, the report picks out nutritional supplements as most profitable segment of the global OTC consumer health products (powder form) market, serving considerably more demand than other segments, viz. skin care products, wound care management, oral care products, and gastrointestinal products. On the basis of distribution channel, the report expects independent pharmacies and retail stores segment to remain dominant throughout the forecast period, much ahead of other categories, viz. hospital pharmacy, hypermarkets and supermarkets, and online sales. Geographically, the developed region of North America currently serves the maximum demand, followed by Europe, whereas Asia Pacific is projected to increment the demand in the OTC consumer health products market at most robust CAGR during the forecast period.

Geriatric Population Escalating Demand

Escalating percentage of geriatric population, growing awareness regarding lifestyle diseases, increase in self-medication, increase in switch from prescription to OTC products, and rise in disposable income are some of the key factors driving the demand in the global powdered form over the counter consumer health products market. Ubiquity of smartphones and widespread outreach of social media has significantly helped the global over the counter consumer health products market, imparting awareness at a rapid rate regarding the ill-effects of sedentary lifestyle of the urban population, which has escalated the need to add required vitamins and minerals to daily life along with fitness regime.

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On the other hand, intense competition, adverse effects of supplements when taken without any physician’s guidance, lack of valid literature, and stringent regulations and guidelines are hindering the consumer health products market from attaining its true potential. Nevertheless, the current vendors of this market are expected to gain new revenue avenues from some of the emerging trends such as accelerated use of online resources, new product launches, aggressive market and promotion activities, and strategic alliances.

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Respiratory Devices Market to be Worth US$22.1 Billion by the End of 2025

Transparency Market Research (TMR) in one of its recent reports observes the global respiratory devices market to be fragmented with the presence of several small and medium-size companies that operate in niche market segments. In order to sustain the competition, leading players are striving to leverage new technologies to upgrade their existing products as well as to expand their product portfolios.

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Some of the key players in the global respiratory devices market are Chart Industries Inc., Koninklijke Philips N.V., Resmed Inc., GE Healthcare, Becton, Dickinson and Company, Teleflex Incorporated, Medtronic plc, Smiths Medical, Drägerwerk AG & Co., KGaA, Fisher & Paykel Healthcare Limited, and Getinge AB.

TMR estimates the global respiratory devices market to be worth US$22.1 bn by the end of 2025 expanding at a CAGR of 6.1% between 2017 and 2025.

Increased Use of Home Care Devices Makes North America Leader

The segment of therapeutic devices is the leading contributor to the global respiratory devices market vis-à-vis revenue mainly due to the increasing need for respiratory devices and high cost of these devices. The segment of ventilator within therapeutic devices segment held the maximum share in 2016 in terms of value, and going forward too the trend is expected to continue. This is followed by the segment of monitoring and diagnostic devices in terms of revenue contribution to the overall market.

Application-wise, asthma is the leading segment followed by COPD in terms of revenue. As per the Global Asthma Report, by 2014, 34 million individuals were registered to be suffering from asthma.

North America is the leading regional segment in the global respiratory devices market. The increasing demand for devices for home care settings is an important factor contributing to the growth of this regional market.

Need for Assisted Breathing for Several Clinical Conditions Favors Growth

“The rising incidence of diseases such as COPD, asthma, and other respiratory disorders is the primary factor propelling the growth of global respiratory devices market. Rising pollution level and changing environmental conditions has led to the increasing incidence of COPD and asthma. Moreover, the increasing use of tobacco, and a large population of smokers is also increasing the incidence of respiration related dysfunctioning,” says the author of the study. According to WHO, in 2015, COPD accounted for 3 million deaths globally, which was 5% of the total deaths in 2015. The majority of deaths due respiratory disorders occur in low and middle income economic groups. Moreover, a large population of the world that suffers from breathing problems from young age that worsens with age also an important factor contributing to the growth of respiratory devices market.

Every year, a large number of pneumonia cases are reported across the world, majority of which are from developing nations. Progression of the disease worsens the breathing pattern that may lead to the need for assisted breathing for patients. This is carried out with the aid of respiratory devices. As per the WHO, pneumonia accounts for 16% of deaths every year globally; in 2015, 920,136 deaths of children were reported due to pneumonia.

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Some other crucial factors propelling growth of the global respiratory devices market are innovation in medical devices, increasing awareness regarding home care respiratory devices, strategic alliances between market participants for technology transfer and to build strong distribution networks.

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Single-Cell Analysis Market is Anticipated to Reach US$6.5 Bn by 2025

Major players in the single-cell analysis market include Thermo Fisher Scientific, Inc., WaferGen Bio-systems, Inc., Becton, Dickinson and Company, Fluidigm Corporation, Eppendorf AG, QIAGEN N.V., NuGEN Technologies, Inc., Bio-Rad Laboratories, Inc., Illumina, Inc., and 10x Genomics, among others. Steady product development is likely to remain the key growth tactic for companies in the single-cell analysis market, while collaboration with leading companies in emerging regions could also turn out to be profitable for single-cell analysis market players.

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According to Transparency Market Research, the single-cell analysis market is anticipated to reach US$6.5 bn by 2025 at a CAGR of 15.4% from 2017 to 2025.

Geographically, North America is likely to remain the dominant contributor to the global single-cell analysis market despite the steady growth of the market in Asia Pacific. Europe is also likely to remain a valuable contender in the global single-cell analysis market. By product type, consumables are likely to remain the leading revenue generator due to the need for repeat demand for various single-cell analysis consumables.

Rising Government Support to Drive Single-cell Analysis Market

Growing funding from government agencies for research on single-cell analysis is likely to remain a key driver for the single-cell analysis market in developed countries. For instance, the National Institute of Health (NIH) provided funding to Bell Biosystems, Inc. to carry out research on a project titled “Single Cell Spatiotemporal and Functional Reporting Using Magneto-endosymbionts” in 2015 and has remained a consistent contributor to advancements in the cellular research sector. In addition, the growing number of partnerships among key players to develop innovative platforms for single-cell analysis contributes to the growth of the market.

The rising focus on life sciences research in EU countries such as Germany, Spain, and Italy is a leading driver for the global single-cell analysis market. Germany houses more than 700 life sciences companies, leading to the country emerging as a leading regional contender in the global single-cell analysis market. Healthcare research has also prospered in Western Europe in recent years, leading to steady growth of the single-cell analysis market.

Increasing Collaboration Activities, Medical Tourism Drive Single-cell Analysis Market in Developing Countries

The growth of the single-cell analysis market in Asia Pacific is anticipated to be driven by India and China, owing to the rising healthcare expenditure in the countries, growing awareness among people, increasing prevalence of cancer and other infectious diseases, and increasing patient population, among others. Furthermore, market players in Asia Pacific have been entering into distribution agreements to enhance the reach of their products to leverage the vast growth opportunities in Asia Pacific. For instance, 10x Genomics, Inc. entered into agreements with MDxK, Inc., Millennium Science Pty Ltd, Research Instruments Pte Ltd, and Star Research Technology Ltd., for the promotion, sales, and support of 10x’s Chromium System in various Asian countries, including South Korea, Australia, New Zealand, Southeast Asia, and China.

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The booming medical tourism industry in Southeast Asia is likely to remain a key driver for the single-cell analysis market in the coming years, as this has driven a steady investment influx in the single-cell analysis industry. The growing acceptance of IVF procedures, previously seen as a taboo in several developing regions, has also led to growing demand for single-cell analysis.

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Awareness of Medical Gas Safety Amongst Manufacturers and Consumers Drives Medical Manifolds Market

Manifolds are pipeline systems with several openings. Manifolds are specially fabricated structures wherein two or more cylinders are connected to a single pipeline to increase the availability of gas at the source. Medical manifolds offer the function of reducing the pressure from cylinders with high pressure to the required pressure, which is feasible to use in the hospital pipeline. In hospitals, medical gases are largely used to provide long-term support to patients in intensive care units (ICUs). Medical air is used in hospitals in large quantities and hence, it is feasible to produce it on site, rather than storing it in gas cylinders. Medical gas supply in a hospital needs to fulfill the stringent requirements of the installation standards and safety of all patients in the hospital. The need for medical manifolds primarily arises from strict rules and requirements for the medical gas supply systems. For instance, in July 2012, the U.S. Congress passed a bill putting into effect the Food & Drug Safety & Innovation Act. This act provides selected gases as approved medications for common medical gas mixtures; provides manufacturers with the protection of their intellectual property rights for new products; and establishes a certification process for medical gas production. These factors serve as a driver for the market.

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Increasing awareness regarding the medical gas safety amongst manufacturers and consumers is a major factor that drives the global medical manifolds market. Growth of the health care infrastructure has led to rise in the number of hospitals, which acts as a driver for the global medical manifolds market. In addition, the establishment of industry-friendly associations such as Medical Gas Association (MGA), Compressed Gas Association (CGA), and Gases & Welding Distributors Association (GAWDA) is fueling the market. Constant efforts made by the members of CGA and GAWDA have rendered the actualization of the U.S. Food and Drug Administration Safety and Innovation Act. These associations help in chalking out strategies that would ultimately help the market thrive and flourish. Therefore, establishment of such associations acts as a driver for the market.

The global medical manifolds market has been segmented by product type and geography. In terms of product, the medical manifolds market has been categorized into simplex manifold systems, cradle pack manifolds, dual manifold systems, semi-automatic manifold systems, automatic manifold systems, digital automatic manifold systems, and others.

Based on the region, the global fermented ingredients market has been segmented into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a significant share of the global market for medical manifolds, owing to presence of industry-friendly organizations such as CGA and GAWDA. These associations consist of industry experts working in reputed organizations. The members of these associations work continuously to make value additions to the market by understanding the market trends and implementing the policies that eventually work out in favour of the market. Europe is considered to be the second largest market for medical manifolds, due to enhanced health care processes and growing health concerns in the region. Moreover, rising geriatric population with the need for hospitalization augments the market in the region. Major factors that would drive the market in Asia Pacific include rapid development of health care infrastructure and presence of large population in the region. High prevalence of pulmonary diseases and emergency medical conditions provides countries such as India and China with multiple untapped opportunities. Latin American countries such as Mexico and Brazil are expected to have considerable growth potential for the medical manifolds market due to evolving health care infrastructure, and increasing medical expenditure.

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Major players operating in the global market for medical manifolds include Praxair, Inc., BeaconMedaes LLC, Merit Medical Systems, Inc., Smiths Group plc, Drägerwerk AG & Co. KGaA, Pattons Medical, Genstar Technologies, and Gascon Systems Pty Ltd.

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OTC Orthopedic Braces Market Growth is Propelled by Rising Incidence of Bone Degenerative Diseases

Orthopedic braces are devices which are used to support and control the joints of the body. The braces can be used on the ankle, knee, hip, back, neck, elbow, fingers, and wrist. Orthopedic braces are used to control the position of limbs and initiate specific movement or motion in the body. Also, the braces can be compensated for weak muscles and to correct structural deformities.  Orthopedic braces are used extensively for diagnosis of cerebral palsy, spina bifida, spinal cord injury, scoliosis, and to deal with after stroke effects. Braces are also used after surgeries on knee joints in order to keep the joints immobile and control motion until the joints recover. Many people use braces for extra support to prevent injuries to joints. Athletes such as football and rugby players’ particularly use braces to prevent injuries. The sophisticated designs, cost effectiveness, and easy availability are driving the growth of the OTC orthopedic braces market. Custom braces and relevant designs can increase the cost of braces which may restrain the OTC orthopedic braces market growth rate during the forecast period.

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Orthotics is an example which is more than a shoe inserts. Orthotics manufacture and design orthoses which modifies the structure and function of the skeletal and neuromuscular system of the body. Demand for orthopedic braces has increased due to increase in the geriatric population, obesity, rising public participation in sports, orthopedic injuries among younger population, and rise in incidence of bone -degenerative diseases, all of which are driving growth in the OTC orthopedic braces market. According to the American Journal of Orthopedics, August 2016, osteoarthritis is a leading cause of disability among middle-aged and older adults, affecting nearly 27 million Americans. Increase in aging of the baby boomer population and rising obesity rates are estimated to increase osteoarthritis by 40% by 2025. Moreover, noninvasive nature of treatment using orthopedic braces and supports, reduced reimbursements offered during orthopedic surgery in developed regions such as North America and Europe are expected to propel the growth opportunities for sports players representing at a global, national or state level. High patient preference for alternative treatments, supports in prophylactic and rehabilitative use and lack of customization options for OTC orthopedic braces can hamper the growth of the global OTC orthopedic brace market during the forecast period.

The OTC orthopedic braces market has been segmented by product type, indication, end-users, and geography. In terms of product type, the OTC orthopedic braces market is classified into foot & ankle braces, upper extremity braces, knee braces, and spinal orthoses braces. In terms of indication type, the market is classified into injury, arthritis, prophylactic, and others. According to the professor of Boston University School of Medicine, knee osteoarthritis is progressive damage to joint cartilage which leads to weakened muscles, pain and swelling. People who wore knee braces reduced pain by about 40% over 6 weeks. In terms of end users, the OTC orthopedic braces market is classified into orthopedic clinics, hospitals, pharmacies, and others. Geographically, the OTC orthopedic braces market is classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Geographically North America dominates the global OTC orthopedic braces reagents market due to increase in obesity, increase in sports activity, and rise in aging  population. Reduced reimbursement policy for surgeries and low cost of braces is expected to drive the OTC orthopedic braces reagents market in North America. Europe is the second largest market for OTC orthopedic braces reagents as there are favorable government policies regarding healthcare infrastructure and awareness programs.  Asia Pacific is expected to grow at a higher rate due to rising population, changing lifestyles, rising interest in sports activity among the population, and increasing per capita expenditure. In addition, economic growth is supporting healthcare infrastructure improvement in developing countries such as Brazil, India, and China. Thus, all these factors collectively support the growth of the OTC orthopedic braces reagents market in Asia Pacific and Latin America.

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The major players operating in the global OTC orthopedic braces reagents market include ALCARE Co., Ltd., DJO Finance LLC, DeRoyal Industries Inc., Ossur hf., Breg, Inc., 3M Company, Otto Bock HealthCare, Bauerfeind AG, BSN Medical, medi GmbH & Co. KG, and Thuasne Group.

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Increase in Open-Heart Surgeries Leads in Promising Growth Opportunities for Surgical Sutures Market

The global market for surgical sutures features a largely consolidated vendor landscape, with the top five vendors accounting for over 65% of the market in 2015, states Transparency Market Research in a recent report. The market features an intensifying price war due to the emergence of a number of domestic players selling products at significantly low prices. These leading players, namely Acelity L.P. Inc., Smith & Nephew plc, Cardinal Health, Medela AG, Integra LifeSciences Corporation, dominate the global surgical sutures market owing to their innovative product offerings and strong customer relationships.

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With profits margins rapidly shrinking and the threat of alternatives becoming a huge challenge, companies operational in the field are focusing on expansion across emerging economies where the high prevalence of cardiovascular diseases is leading to a huge surge in open-heart surgeries. An instance of this would be Medtronic’s acquisition of Covidien plc., an Ireland-based healthcare company and manufacturer of medical devices and supplies, in 2015. The acquisition helped the former gain benefits such as expanding geographical access to a high-growth potential region and lower operational costs.

Transparency Market Research states that the global market for surgical sutures will exhibit a 3.9% CAGR from 2017 to 2025, rising to a valuation of US$5,080.1 mn by 2025.

North America to Retain Leadership Position in Terms of Revenue Contribution

On the basis of product type, the segment of absorbable sutures, which accounted for a nearly 60% of the overall market in terms of revenue contribution in 2016, is expected to remain the leading segment throughout the forecast period. The segment is expected to offer an incremental opportunity of nearly US$880 mn between 2017 and 2025. Geographically, the North America market dominated the global market in 2015, accounting for a nearly 35%. Factors such as the rising numbers of orthopedic surgeries and the high per capita expenditure on healthcare will continue to drive the strong demand for surgical sutures in the North America market throughout the forecast period.

Rising Number of Surgeries to Present Promising Growth Avenues

The rising global demand for surgical sutures is chiefly attributed to increasing numbers of surgical procedures, surging global population, rapidly expanding geriatric population base across developed and developing economies, rising disposable incomes, and the rising willingness of the global population to spend on healthcare and wellness. Technological advancements enabling the development of suture materials capable of improving wound closure time and tissue approximation, which add more value to the final result of surgeries, are also fueling the uptake of surgical sutures across the globe. Moreover, the vast improvements observed in healthcare facilities such as the rising numbers of clinics and hospitals, especially in developing economies, are also intensifying the growth opportunities of the global surgical sutures market.

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Intensifying Price Wars and Shrinking Profit Margins to Intensify Growth Challenges

However, certain factors, such as the availability of other advanced wound closure materials and the burgeoning demand for minimally invasive procedures could hamper the growth prospects of the global surgical sutures market to some extent during the forecast period. The rising demand for precision surgical sutures and the rising number of vendors, especially in several developing economies where a number of local manufacturers offer surgical sutures at significantly low prices, have intensified price wars. The need to offer products at low costs to survive in such environment is adversely affecting the profit margins of leading players, which is consecutively bringing down funds usually invested in R&D activities and eventually resulting in the lack of innovative products in the global market.

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Increased Burden of Hypothermia Cases will Bolster the Growth of Blood and Fluid Warmer Market

Normal human body temperature falls between 96.8 degrees Fahrenheit and 99.5 degrees Fahrenheit. The prolonged body exposure to cold temperature leads to hypothermia condition which drops the body temperature below 95 degrees Fahrenheit. Hypothermia can increase risk during surgeries and cause prolonged healing time. Proper patient temperature management is crucial during the patient's stay in hospitals to accelerate healing after surgeries. Therefore, hospitals and other treatment centers adopt blood and fluid warmer systems to monitor and control the core body temperature of a patient. Also, the conditions such as severe trauma, thyroid conditions, diabetes and consumption of abusive drugs can increase the risk of hypothermia. A blood and fluid warmer instrument is used to warm fluids or blood prior to transfusion to a patient during the temperature management treatment. This treatment is mostly used in operating rooms, intensive care units, and emergency settings for hypothermia prevention. Blood and fluid warmer systems enable patient treatment by maintaining normal body temperature to avoid hypothermia.

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The demand for blood and fluid warming instruments is fuelled by increased burden of hypothermia cases. The incidences of hypothermia is high in cold countries. For instance, according to Center for Disease Control (CDC), in the U.S. there were around 1,301 annual deaths caused due to hypothermia. The incidence of hypothermia is high in geriatric and infant population. Worldwide a gradual increase in surgical procedures along with aging population is the major factor which is anticipated to fuel growth of the global blood and fluid warmer market during the forecast period.  Also, the increasing consumption of abusive drugs, growing incidences of thyroid conditions and diabetes are the other hypothermia causing factors which are expected to boost the demand for blood and fluid warming instruments. Increase in mergers and acquisitions among the major global players is one of the major trend in the global blood and fluid warmer market. However, high research and development expenses in product development and the low awareness about blood and fluid warming instrument treatments in the developing countries is anticipated to hamper growth of the global blood and fluid warmer market growth.

Based on product type, surface warming segment is expected to contribute largest share in global blood and fluid warming market due to increasing adoption in developed countries such as U.S, Germany and U.K. The segment is expected to grow rapidly over the forecast with increased penetration in Asia Pacific. Hospital end user segment is expected to contribute the maximum share among end users. Based on application the acute care segment is expected to contribute the maximum share owing to rise in geriatric population with different diseases.

On the basis of regional presence, global blood and fluid warmer market is segmented into five key regions viz.  North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to dominate the global blood and fluid warmer market in terms of value due to high demand from U.S.

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Some of the major players in global human papillomavirus testing market are 3M Company, Becton, Dickinson and Company, Barkey GmbH, CareFusion, GE Healthcare, Smiths Medical, Meridian Medical Systems, The 37Company, EMIT Corporation, etc. The blood and fluid warming market is mostly dominated by some key global vendors and is expected to witness steady CAGR in terms of revenue owing to increasing adoption in the patients. This patient pool includes people suffering from chronic diseases such as thyroid conditions, and diabetes among geriatric population along with rising number of surgical procedures performed globally. The entry of existing players in emerging countries and product development with enhanced technology in the blood and fluid warming market is expected to create competition in the market.

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