Market Research Blog

The global autoclaves market will exhibit 5% CAGR between 2020 and 2030, especially as demand for sterilization and disinfections continue rising across hospitals, academic and research institutes, biopharmaceutical companies, and other facilities, finds Future Market Insights (FMI) in a new study. As per the report, increasing cases of hospital acquired infections will encourage investment in autoclaves across healthcare facilities.

According to the Centers for Disease Control and Prevention (CDC), on any given day, about 1 in 31 hospital patients has at least one health-care associated infection. Autoclaving destroys microorganisms with higher efficiency than dry heat. Hence autoclaves are registering increasing applications in the healthcare industry.

While the outbreak of novel coronavirus has taken a toll on the market affecting its growth, it is recovering steadily to bounce back. Patient admissions in hospitals and other healthcare facilities has increased, which is in turn fuelling the demand for autoclaves in the recent year.

FMI offers an in-depth analysis and overview of the global autoclaves market, covering factors enabling its growth, creating prospects, and key threats.

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Some of the key takeaways from the report are highlighted below-

• Rise in demand for gravity autoclaves is projected to fuel the growth of the market during the forecast period between 2020 and 2030
• Floor standing autoclaves will gain traction due to the high for laboratory applications
• The demand for front loading type autoclave is expected to be higher than top loading and pass through
• Cylindrical autoclaves will be highly sought-after among chamber types
• Academic and research institutes will continue exhibiting high demand for autoclaves
• North America will dominate in the global market followed by Europe

“The rising awareness among the hospital staff, doctors, and patients regarding the hospital acquired infections is spurring the growth of the autoclaves market. The outbreak of COVID-19 pandemic has resulted in unbridled rise in patient pool across hospitals and healthcare centers, increasing the risk of hospital acquired infections. According to the National Centre for Biotechnology Information (NCBI), the risks of Central Line-Associated Bloodstream Infection (CLABSI), Catheter Associated Urinary Tract Infection (CAUTI), and others are higher in COVID-affected patients. This has been fuelling the demand for autoclaves and the trend is expected persist over the next couple of years,” says an FMI analyst.

COVID-19 Impact Analysis

The outbreak of COVID-19 pandemic caused decline in the growth of market earlier this year. The sudden lockdown, coupled with restrictions imposed, had severely affected manufacturing units of the autoclaves. However, autoclaves being an integral part of the sterilization process started experiencing surge in demand soon after getting over the temporary period of lull. The ongoing pandemic has resulted in higher requirement for sterilized and clean environment across healthcare facilities, which is substantially pushing the demand curve for autoclaves upward. As per Medical Product Outsourcing (MPO), autoclaves are staples in the healthcare industry and they are used extensively for high-pressure steam sterilization on various tools and industrial components, especially during COVID-19 pandemic.

According to the World Health Organization (WHO), biosafety levels BSL-2 and BSL-3 are required in order to handle COVID-19 by maintaining clean and safe environment. As laboratory autoclaves are ideal for sterilization of contaminated instruments, waste, laboratory equipment, and others while maintaining these standards, they are highly required in diverse end-user industries starting from pathology laboratories to academic and research institutes.

Who is Winning?

Competition in the global autoclaves market has been rising steadily. In order to strengthen their foothold, market players are focusing their efforts towards exploring and capitalizing on new opportunities. This has resulted in a slew of product launches in the last few years.

For instance, Benchmark Scientific has launched their new range of BIOCLAVE™ RESEARCH AUTOCLAVES which are designed specifically for laboratory research tools and provide fully automatic services in the current year.

Panasonic Biomedical has launched their new extensive range of laboratory autoclaves such as MLS-3020U, MLS-3751L, MLS-3781L, and others in the recent year.

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More Valuable Insights on Autoclaves Market

In the latest report by Future Market Insights, we offer an unbiased analysis of the global autoclaves market, providing historical data for the period of 2015-2019 and forecast statistics for the period of 2020-2030. In order to understand the global market potential, its growth and scopes, the market is segmented on the basis of product (gravity autoclave, vacuum-induced autoclave), modality (floor standing, bench top, wall mounted, portable), loading type (top loading, front loading, pass through), chamber type (cylindrical, rectangular), end user (hospitals, office based clinics, academics and research institutes, research laboratories, pathology laboratories, biopharmaceutical companies, food and beverage companies), across six major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA).

The transradial closure devices market is growing with the increasing cases of cardio vascular diseases all over the world. A new study by Future Market Insights (FMI) has projected the market to rise at 6.5% CAGR between 2020 and 2030. According to the report, demand will rise consistently on the back of surging cases of cardiovascular ailments caused by stress, unhealthy lifestyle, and others factors.

According to World Health Organization (WHO), every year cardiovascular diseases cause an estimated 31% of death occurring worldwide. Also a 2016 Heat Disease and Stroke Statistics update by the American Heart Association stated that over 15 million people in the U.S. have coronary heart disease.

With no signs of the incidence slowing down, the demand for procedures such as angiography, angioplasty, percutaneous coronary intervention (PCI), and others will continue rising. Consequently, the demand for transradial closure devices is surging rapidly all over the world.

Radial access is highly efficient in providing faster mobility to patients due to smaller incision.  Furthermore, chances of infection at site is lower in radial access as compared to transfemoral access, which makes it highly preferred by diverse end users, starting from hospitals to specialized clinics.

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The outbreak of COVID-19 pandemic is anticipated to impact the market negatively. The temporary period of lull could continue until the next year. However, the transradial closure devices market has high potential to grow further in the coming years.

FMI offers an exhaustive overview of the transradial closure devices market, its growth drivers, and restraints.

Some of the key takeaways from the report are highlighted below-

• Band or strap based transradial closure type devices are expected to lead in the market during the forecast period
• Disposable devices are anticipated to gain traction in terms of usage
• Application of transradial devices in diagnostic segment will remain high throughout the forecast period
• Among the end users, independent catheterization centres will emerge dominant in the coming years
• North America will lead in the global market followed by Europe

“Due to the rising cases of cardio vascular diseases, there has been increase in surgical and diagnostic procedures related to it. Transradial access (RA) being associated with less complications, is highly preferred by the various end users such as ambulatory surgical centers, hospitals, and others. In the coming years, the uptake of transradial closure devices will therefore rise especially since patients are increasingly willing to spend on procedures that ensure shorter hospital stays,” says an FMI analyst.

COVID-19 Impact Analysis

Due to the outbreak of COVID-19 pandemic, manufacturing process of transradial closure devices was hampered during the lock down. Contrary to this, novel coronavirus might cause cardiovascular concerns, which has resulted in surge in demand for the transradial closure devices in hospitals, specialized clinics, and other segments.

As per the latest study by FMI, the global transradial closure devices market has high potential to overcome the threats posed by the ongoing pandemic and grow further in the coming years.

Who is Winning

The global transradial closure devices market is highly competitive. In order to strengthen their foothold market players are focusing on the launch of ultra-modern transradial closure devices.

For instance, Comed B.V has launched their new Io™ Radial Compression Tourniquet (Io™ RACT) which is effective to compress the radial artery puncture, post procedure in the current year. Their Io™ RACT is small, and especially designed to optimize compression, view the puncture side and deflate the compression balloon.

Merit Medical, Inc. has launched their exclusive PreludeSYNC™ Radial Compression Device which assists in achieving vascular hemostasis in the recent year. Their PreludeSYNC™ Radial Compression Device is available with the safety and convenience of a specialized connection device and syringe.

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More Valuable Insights on Transradial Closure Devices Market

In the latest report by Future Market Insights, we offer an unbiased analysis of the global transradial closure devices market, providing historical data for the period of 2015-2019 and forecast statistics for the period of 2020-2030. In order to understand the global market potential, its growth and scopes, the market is segmented on the basis of product type (band/strap based, knob based, plate based), usage (disposable device, reusable device), application (surgical intervention, diagnostics), end user (hospitals, independent catheterization centers, ambulatory surgical centers, specialized clinics), across six major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA).

Future Market Insights (FMI) has recently published an exhaustive yet unbiased study on the global fiducial markers market elaborating on the vital dynamics responsible for shaping future growth trajectory for the forecast period ranging from 2020-2030.

According to the American Cancer Society, in 2019, approximately 174,650 men were diagnosed with prostate cancer, up by 6% from 2018. It is also the second leading cause of deaths among American men, with over 33,000 fatalities expected by 2020-end.

Therefore, manufacturers are likely to find immense opportunities with respect to introducing fiducial markers to aid in eradicating this deadly disease across potential regions. Recent research has paved the way for non-implantable fiducial markers using the cone-beam CT technology.

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Key Takeaways

• Global fiducial markers market to reach US$ 258.8 Mn by 2030, expanding at over 8% CAGR
• Pure gold fiducial markers to capture lion’s share, expected to generated over 60% revenue by 2020-end
• By modality, photon treatment is expected to generate an absolute opportunity worth US$ 12 Mn through 2030
• Maximum uptake likely across the prostate cancer segment, accounting for over 7 out of 10 fiducial marker applications
• Radiotherapy centers to remain primary end-users of fiducial markers due to deployment of specialized cancer treatments
• Europe and North America to capture an impressive market share, East Asia following closely

“Increasing research and development for discovering technologically advanced solutions to treat cancers and other debilitating disorders is generating immense green space for potential fiducial markers market players,” says the FMI analyst.

COVID-19 Impact Analysis

The COVID-19 pandemic has widened growth prospects for the global fiducial markers market. As cancer treatment acquires precedence, healthcare providers are making accommodations to address patients suffering from debilitating conditions. Consequently, the need for precision-based detection systems has aggrandized in recent months.

Amid strict hygiene and social distancing protocols, healthcare providers are conducting radiation and chemotherapy procedures, leading to increased uptake of fiducial markers. Moreover, to reduce infection risks, patients requiring immediate surgical care are attended to first while consultation for possible prevalence have been shifted to virtual platforms.

Competitive Landscape

The global fiducial markers market comprises of the following prominent players: Eckert & Ziegler BEBIG, Innovative Oncology Solutions, Boston Scientific, IBA Dosimetry, Best Medical International, Inc., Carbon Medical Technologies, CIVCO, alphaXRT, Nanovi A/S, and Stellar Medical to name a few.

A combination of expansion strategies, ranging from new product launches to strategic collaborations and alliances and technological disruptions are employed by these manufacturers to stay afloat in this highly competitive environment.

Innovative Oncology Solutions, for instance, markets the FLEXIMARC G/T Specialty Fiducial Markers, consisting of two 1.2 mm x 3 mm gold nodes separated by a thin, medical grade titanium filament which is optimized for MRI visibility. This permits soft tissue to anchor the marker in place, reducing chances of migration.

With regard to technological advancements, IBA Dosimetry announced the launch of its myQA iON radiation therapy integrated quality assurance (QA) platform in 2019. This platform incorporates process automation, task-based workflows and PT machine log files to streamline cancer treatment procedures.

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More Insights on FMI’s Fiducial Markers Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global fiducial markers market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the fiducial markers market on the basis of product (polymer based markers, metal based markers, pure gold markers and liquid based markers), modality (photon therapy, proton therapy, tomotherapy and cyberknife), disease site (head & neck, breast, lung, abdomen, prostate, kidney, cervix or other gynecologic organs) and end-user (hospitals, cancer research institutes and radiotherapy centers) across seven prominent regions.

Glycoprotein is the proteins with oligosaccharide moieties which emerge after glycosylation during post-translational or co-translational modification of proteins.

Glycoprotein plays a crucial role in cellular metabolism and functions including cell signalling, cellular adhesion, immune system, pathogenicity, genesis and progression of metabolic disease and biomarker of diseases such as cancer.

There Glycosylations are of two types, O-glycosylation on Serine (Ser) or Threonine (Thr) residues and N-glycosylation on Aspargine (Asn) residue with the consensus sequence of Asn-X-Ser, where X is any amino acid except proline (Pro).

Glycoprotein analysis can be instrumental for understanding its structure and function and its role in the underlined diseases prognosis and their therapy. The global glycoprotein analysis market is anticipated to grow with the advancing research of glycoprotein into chronic diseases.

Coronavirus has leveraged the global glycoprotein analysis market growth. Coronavirus glycoprotein coat is actively dwelled to decode the pathogenicity and develop vaccine or therapies for the novel-virus.

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Immunoblotting analysis, epitope mapping, chromatography, spectrometry and many others are actively implemented for research and glycoprotein analysis

Glycoprotein Analysis Market: Drivers and Restraints

The global glycoprotein analysis market driver includes the massive research and technology for glycoprotein analysis to unravel their structure and function. Glycoprotein analysis has a huge market base in food consumption bacterial and yeast protein production and healthcare.

Also the advancing R&D technology and investments into glycoprotein analysis for drugs therapies vaccines disease progression understanding the biology of glycoprotein and product launches.

Glycoprotein analysis is has massive rseaech involvement into cancer of breast prostate and ovary malfunctioning glycoprotein associated enzyme and metabolism aberrations resulting in glycoprotein storage diseases including Alpha-Mannosidosis Aspartylglucosaminuria and Beta-Mannosidosis.

Glycoprotein analysis has attracted huge R&D investments subsidization and reimbursements for glycoprotein associated antibodies mutations and associated pathway targeting which altogether propels the glycoprotein analysis market growth.

However the smooth growth of glycoprotein analysis market is halted due to low abundance of native target glycoproteins purification enrichment and fractionation issues simultaneous glycoprotein sequencing glycan moieties and glycosylation sites analysis.

Glycoprotein analysis gets complex due to the increasing heterogeneity of glycan structures. Glycoprotein analysis requires further sensitive and quantitative methods for the urgent detection of specific glycoform and its role in disease progression.

Glycoprotein analysis techniques such as spectroscopy and chemical reagents are expensive labour-intensive and the dearth of research and medical professionals decelerates the growth of glycoprotein analysis market.

Despite these constraints global glycoprotein analysis market is poised to grow lucratively due to the progressing R&D and healthcare and investments driven by the vast application of glycoprotein in healthcare and food.

The novel analysis methods with improved accuracy sensitivity and efficacy and cost-effectiveness which will  propel the global glycoprotein analysis market furthermore.

Glycoprotein Analysis Market: Overview

The global glycoprotein analysis market is growing lucratively with the technological advancements of glycoprotein analysis for research healthcare and food. By glycosylation the global glycoprotein analysis glycosylation is divided into N-linkage and O-linkage which have a crucial role in the progression and therapy of several diseases.

N-glycosylation plays crucial role in arthritis cancer diabetes Crohn’s diseases and several nervous system diseases. N-linked glycoprotein is found in therapeutic antibodies including Rituximab Etanercept and Infliximab. O-glycosylation is involved in antibody structure analysis and development targeting of Alzheimer diseases and cancers by O-glycan structure and terminal Lewis epitopes.

By end-users the global glycoprotein analysis techniques have major contributions from hospital and research institutes and their collision for glycoprotein associates diseases diagnosis and analysis. The glycoprotein analysis data from research institutes are crucial for the diagnosis.

By techniques mass spectrometry dominates the glycoprotein analysis technique due to their sensitivity specificity speed and stoichiometry for the glycoprotein identification glycosylation site and glycan structures.

Major spectrometry techniques for glycoprotein analysis include mass spectrometry (MS) Electrospray ionization mass spectrometry (ESI-MS) matrix-assisted laser desorption/ionization time-of-flight mass spectrometry (MALDI-TOF MS) and hydrophilic interaction chromatography-mass spectrometry (HILIC-MS).

Glycoprotein Analysis Market: Regional Outlook

North America holds the largest global glycoprotein analysis market with its advanced R&D pharmaceutical development and research healthcare expenditure and investments which are supported by the government research institutes hospitals and other organizations for disease diagnosis therapy and glycoprotein food industry and key players.

Europe holds the second largest global glycoprotein analysis market with its advanced research and healthcare government’s support numerous start-ups and leading companies.

Asia-pacific glycoprotein analysis market is growing at the fastest pace fuelled by the advancing research institutes and hospitals progressing pharmaceuticals and glycoprotein analysis and production. Latin America glycoprotein analysis market is growing gradually with improving R&D and healthcare.

MEA& Africa glycoprotein analysis market is growing laggardly due to the technological backwardness although South-Africa and Israel with their advancing research and growing protein industry are expected to push the growth of regional glycoprotein analysis market

Glycoprotein Analysis Market: Key Players

The key players of the global glycoprotein analysis market include

• Sigma-Aldrich. BD
• Enzo Life Sciences
• Creative Diagnostics
• Thermo Fisher Scientific
• Epitope Diagnostics Inc.
• R&D Systems
• QED Bioscience Inc
• ACROBiosystems.

The research report presents a comprehensive assessment of the market and contains thoughtful insights facts historical data and statistically supported and industry-validated market data.

It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies application and industry.

The report covers exhaust analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Indication
• Value Chain

Regional analysis includes:

• North America (U.S. Canada)
• Latin America (Mexico. Brazil)
• Europe (Germany U.K France Italy Spain)
• South Asia (India ASEAN Countries)
• East Asia (Japan China & South Korea)
• Oceania (Australia & New Zealand)
• Middle East and Africa (GCC Countries South Africa Northern Africa)

The report is a compilation of first-hand information qualitative and quantitative assessment by industry analysts inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

Glycoprotein Analysis Market: Segmentation

The global glycoprotein analysis market is segmented into glycolysation, end-users, techniques and regions.

By glycolysation

• N-linkage
• O-linkage

By end-users

• Hospital
• Research Institutes
• Others

By techniques

• Molecular Reagents
• Mass Spectrometry

As the prevalence of lung cancer, melanoma, and renal cell carcinoma continues to soar worldwide, the adoption of PD-L1 biomarker testing is expected to grow at a healthy pace in the years to come, says Future Market Insights (FMI) in its new market study. Moreover, the report forecasts that the global PD-L1 biomarker testing market will grow in value at a stellar CAGR of 13.1% between 2020 and 2030.

The report opines that the outbreak of COVID-19 is likely to create short-term fluctuations on the supply side due to pandemic-related issues such as workforce shortages and disruptions of delivery networks. Similarly, a steep decline in the number of tests has been observed during the pandemic, and this is expected to further decelerate the demand for PD-L1 biomarker testing.

The report primarily attributes the growth of the market to the increasing incidence of cancers, especially lung and skin, coupled with the development of advanced diagnostic kits and assays.

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Likewise, rising awareness regarding the availability of testing methodology such as immunohistochemistry-based assays and Enzyme-linked Immunoassay (ELISA) based detection will continue to impel the adoption of PD-L1 biomarkers in the forthcoming years.

Key Takeaways

• The global PD-L1 biomarkers testing market is expected to surge past valuation of US$ 2.05 Bn by the end of the forecast period.
• PD-L1 SP142 assay kits will remain the most popular products among end-users, capturing nearly half of the market value, owing to high efficiency in detecting cancer tumors.
• Non-small cell lung cancer and melanoma are cumulatively expected to hold more than 50% of the total market value on the back of the soaring prevalence of these diseases.
• By end-use, PD-lL1 biomarker testing finds the majority of applications in hospitals, which is expected to account for over 60% of market value.
• North America will spearhead the regional landscape through the forecast period, accounting for more than 50% of the global market value.
• Europe is poised to remain the second most lucrative region, holding nearly 1/3rd of market value.

“Market players are directing their efforts towards improving the accessibility of these products and are marking them cost-effective to ensure wide-scale adoption,” remarks FMI analyst.

COVID-19 Impact on PD-L1 Biomarker Testing Market

The COVID-19 pandemic has created disruptions across the healthcare technology landscape and has resulted in a shifting preference among manufacturers towards essential technologies and treatments. Furthermore, although PD-L1 biomarker testing is used to test severe diseases such as cancer, a reduced number of screenings is adversely impacting the demand for testing.

For instance, according to trends observed by Cancer Research Network, screening rates of melanoma plummeted by approximately 50% in the UK in the past few months. Likewise, in the US, the number of tests conducted to detect non-small cell lung cancer fell by 30% in March as compared to February. As patients reschedule or skip regular screenings, this is creating a downtrend in demand for PL-D1 biomarker testing.

However, considering the severity of these diseases, the need for testing will swiftly arise in the future, ensuring that the market’s growth trajectory remains intact.

Who is Winning?

Key players operating in the market are focusing on enhancing existing product designs and developing novel products with increased accuracy. Moreover, traditional growth strategies such as acquisitions and mergers have been identified as strategies adopted by players to strengthen their foothold in the competitive landscape.

• In January 2019, Abcam Plc acquired Calico Biolabs with an objective to expand its custom monoclonal production service capabilities.
• In December 2018, NeoGenomics, Inc. acquired Genoptix, Inc. to improve its oncology diagnostic services.

FMI’s report includes profiles of some of the most prominent names in the market including F. Hoffmann-La Roche Ltd, Agilent Technologies, Inc., NeoGenomics Laboratories, Inc, HalioDx and Abcam plc. among others.

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To Know More About PD-L1 Biomarkers Market

A new market research report published by Future Market Insights (FMI) on the global PD-L1 biomarkers market offers an executive-level blueprint of the market. It offers insights into demand trends and provides analysis of opportunities over the forecast period, 2020-2030. The report examines the market through four different segments – product, indication, end-use, and region. The report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply and product adoption across several end-use industries.

ESOMAR-certified consulting firm Future Market Insights’ report, projects a healthy growth, for optical coherence tomography (OCT) market. As per the report, the market is forecast to reach a valuation of US$ 1349.09 Mn over the forecast period of 2021 and 2031.

Growing application of OCT in ophthalmology across China, the U.K., Germany and Japan will bolster the demand of optical coherence tomography across the globe.

As per the FMI’s analysis, the optical coherence tomography market across Japan and China is anticipated to expand at over 9.8% and 4.6%, respectively in 2021. Growing prevalence of eye related disorders such as diabetic retinopathy, glaucoma and others will improve the adoption of OCT imaging systems.

Development of advanced OCT imaging systems coupled with increasing government & private organizations initiatives for eye care programs across the globe are propelling the adoption of OCT imaging systems.

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Growing awareness and increasing innovation for the advanced OCT devices for the treatment of skin cancer and eye diseases have urged the manufacturers to incorporate real-time data for better outcomes, expanding their existing product ranges.

Based on the aforementioned factors, the OCT market is slated to expand at a robust pace of over 6.7% CAGR during the assessment period of 2021 and 2031.

Key Takeaways from FMI’s Optical Coherence Tomography Market Study

• Hospitals are anticipated emerge as primary end users of optical coherence tomography market, accounting for leading market share
• Preference for spectral domain-OCT will be higher as compared to swept source-OCT over the forecast period
• Increasing application of OCT in ophthalmology is expected to drive sales through 2031
• Germany and the U.K. will lead the Europe’s optical coherence tomography market on the back of rising cases of eye disorders across the region
• Japan is anticipated to emerge as a lucrative market backed by the rising development of advanced OCT imaging systems within healthcare sector
• China is anticipated to lead the East Asia market during the forecast period, accounting for over 4.6% market sales
• The U.S. is estimated to be the largest market for optical coherence tomography market attributed to be growing prevalence of eye related disorders

“Key players are increasing research and development activities for the development of advanced OCT imaging system for the early detection & treatment of eye-related disorders. This, in turn, is likely to omprovegrowth opportunities for the market players over the coming years,” says the FMI analyst. 

Optical Coherence Tomography Market Competitive Landscape

Future Market Insights, in its updated report, have profiled prominent players operating in optical coherence tomography market which include Leica Microsystems, Optovue Inc., Carl Zeiss Meditec AG, Santec Corporation, Heidelberg Engineering GmbH, Optopol Technology SP Z.O.O., Topcon Corporation, Michelson Diagnostic Ltd., Tomophase Inc., Moptim Imaging Technique, NIDEK Co. Ltd., and Sonostar Technologies Co. Ltd among others.

Optical coherence tomography systems manufacturers are actively focusing on expanding their product portfolios to improve their revenue generation.

Incorporation of advanced technology combined with the upgradation of its existing range of products is also one of the core strategies of market players to maintain their position in the industry.

The global optical coherence tomography market is dominated by top tier-1 market players that include Leica Microsystem (Sub. Danaher), Optovue Inc., and Zeiss Group (Carl Zeiss Meditec AG).

Targeted mergers and collaborations with top distribution channel partners is anticipated to be the key strategy to maintain their top position in the industry. Around 20% to 25% of global market revenue is contributed by the tier-1 players over the forecast period.

New product launches with the expansion of their existing product range is one of the common market strategy for the key players. For instance:

In March 2021, Premier Medical Imaging AI Inc., a medical technology company focusing to transform cancer surgery with ultra-high resolution, announced the 510 (k) clearance for its Perimeter’s Optical Coherence Tomography imaging system (v2.1) from the U.S. Food & Drug Administration (FDA), designed to examine tissue microstructures during surgical procedures.

In January 2021, Notal Vision announced the launch of its first ‘US Home-Based’ optical coherence tomography platform which was patient self-operated.

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More Insights on the Global Optical Coherence Tomography Market

Future Market Insights, in its latest report, offers an incisive coverage on the global optical coherence tomography market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is classified on the basis of product type (spectral domain-OCT, swept source-OCT, and others), application type (ophthalmology, dermatology, cardiovascular, dental, and others), and end user (hospitals, ophthalmology clinics, dermatology clinics, dental clinics, ambulatory surgical centers, and others) across seven major regions (North America, Latin America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan and Middle East & Africa)

Femtech is a term used for female technology which involves the use of digital health tools including software, diagnostics, products, and services that are targeted at women’s health. According to a recent Future Market Insights (FMI) report, the global femtech market is estimated to hit a valuation of US$ 948.1 Mn in 2021, with a market CAGR of 15.0% during the forecast period (2021-2031).

Market demand is set to rise at a steady pace throughout the forecast period, majorly favoured by investments outside the boundaries of healthcare towards a branched approach involving domains such as workplace regulations, financial equity, and state legislation.

The primary factor supporting the femtech market to positive expansion in terms of growth and stability is the advent of digitalization and artificial intelligence. Technological advancements such as cloud-based informatics allow personalized solutions, driven by consumer input. This has given rise to affordable and accessible analysis in terms of personal health monitoring and diagnosis.

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Key market players have pushed for innovation and accessibility into customized digital solutions. This also includes the introduction of hands-free wearables which are assistive with the regular, day-to-day life of women across the globe.

Additionally, leading product developers in the femtech market work through commercial partners such as department stores, big-box retailers, hospitals, clinics, insurance companies, pharmacies and drugstores, private medical practices and e-commerce platforms to expand product sales prospects.

Key Takeaways from Femtech Market Study

• Menstrual health applications will drive market growth holding around a third of the market, supported by growing purchases from the working women demographic.
• Diagnostic services are projected to cover about 45% of the global market by 2031. This is aided by the growing accessibility of digital health services
• The U.S. holds a dominant share, valuing at over US$ 357.1 Mn by the end of 2021, supported by the presence of leading players and higher consumer acceptance.
• The U.K. and Germany dominate the Europe market, cumulatively accounting for more than 25% of the regional revenue.
• China is a leading market in East Asia, and is forecast to account for more than 50% of the regional value share owing to a vast consumer base.

“The advent of technological improvements in healthcare in the form of devices, applications, services, and products has increased the rate of diagnosis of reproductive disorders in terms of time management and treatments for women. This will aid growth through the upcoming decade,” says the FMI Analyst

Who is Winning?

Some of the leading companies operating in the femtech market are focusing on collaborations with leading institutions for increasing awareness among the population about the adoption of digital health services.

Collaborations with key pharmaceutical companies to launch customized products and services for the growing consumer base has led key players to retain their position in the market while expanding their product portfolio.

• Research collaboration in monitoring fetal heart rates through wearable ECG chips by between Bloomlife and Imec in 2019 has expectantly given rise to superior monitoring capabilities in maternity care.
• Femtech companies have integrated applications for tracking fertility and offer services such as in-vitro fertilization. Additionally, they also offer medical treatments and products such as wearables and hands-free devices.

Key market players covered by FMI include Clue, Aparito Limited, Bloomlife, Bonzun Health Information AB, Elvie, Ava Science Inc., Grace Health, iBreve, LactApp, Natural Cycles Nordic AB, Hera Med Ltd., Niramai Health, NURX Inc., SteadySense GmbH, Pregnolia AG, Willow, WOOM and B-wom.

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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global femtech market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the femtech market based on service (diagnostics, monitoring, therapeutic), application (general health and wellness, maternity care, menstrual health, pelvic and uterine healthcare, cancer and chronic disease), and end-user (direct-to-consumer, hospitals, surgical centres, fertility clinics, diagnostics centres) across seven major regions.

The prevalence of urological diseases – such as urinary retention, benign prostate hyperplasia (BPH), bladder obstruction, urinary incontinence, and prostate cancer – has witnessed a significant uptick in the recent past. According to the statistics of the Centers for Disease Control and Prevention (CDC), nearly 15-25% of hospitalized patients receive a urinary catheter annually. As the number of hospital admissions continues to rise year-on-year, there is a persistent need for foley catheters in hospitals, which are projected to remain a crucial end-use segment.

Likewise, the growing burden of urinary retention, a chronic condition in which individuals cannot voluntarily urinate, is propelling demand for foley catheters to facilitate easy drainage of urine. As per the estimates of the American Academy of Family Physicians (AAFP), approximately 4.5 to 6.8 per 1,000 men in the US suffer from urinary retention. As the incidence of disorders continues to grow across the world, the demand for foley catheters is poised to remain high for the years to come.

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Along similar lines, the high prevalence of urinary incontinence, a condition that causes the urine to leak involuntarily, is projected to bestow remunerative opportunities to players in the foley catheters market. The severity of urinary incontinence rises with age, with men above 70 being the most affected. The expanding base of the geriatric population will continue to necessitate the usage of foley catheters.

Having analyzed and scrutinized all the aforementioned facets in its new market study, Future Market Insights (FMI) projects that the global foley catheters market will grow in value at a CAGR of nearly 5% between 2020 and 2030. Some of the key takeaways from the report include:

• The global foley catheters market is expected to surge past valuation of US$ 2.2 Bn by the end of 2030.
• By product type, 2-way foley catheters are poised to remain the most sought-out variants, owing to their wide availability and simple installation, and will hold more than half of the overall market value.
• Among materials, latex-based foley catheters are expected to gain an edge over their counterpart, silicon-based foley catheters, backed by their ability to reduce urethral irritation.
• Based on indication, urinary incontinence is expected to remain the largest segment, on the back of high incidence among geriatric population.
• North America will remain at the forefront of the regional landscape ascribed to high expenditure on medical aids coupled with new product approvals.
• Asia Pacific and Europe will continue to bestow remunerative opportunities to market players.

“With catheter-acquired infections being a major challenge to the adoption of foley catheters, manufacturers are focusing on developing products with materials and coatings that aid in reducing accumulation of bacteria, thus restraining the possibility of catheter-acquired infections among patients” remarks FMI analyst.

COVID-19 Impact on Foley Catheters Market

COVID-19 is expected to create slight fluctuations in the growth trajectory of the foley catheters market. There has been a notable shift in priorities of healthcare institutions, with treatment for COVID-19 patients being the utmost priority across the world. Hospitals in severely affected nations such as the US and India have deprioritized non-essential hospitalizations, leading to a downfall in the demand for foley catheters. With urology not being the most concerning healthcare issue currently, the sales of numerous urology care devices, including foley catheters are likely to witness a decline across hospitals. However, the demand for foley catheters in long-term care facilities is poised to remain unhinged through the pandemic, and will continue to drive the sales of these devices.

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Who is Winning?

Major players in the market are focusing on developing advanced catheters that reduce the likelihood of the patient developing catheter-associated infections. To achieve the same, they are using novel materials and coatings, and are seeking approvals to commercialize their devices. On these lines,

• C.R Bard is using silver-ion and antimicrobial coatings in the production of foley catheters to eliminate the risk of catheter-associated infections when used for long periods.
• B. Braun Melsungen AG continues to develop its catheter product line named Actreen® catheters, designed specifically for urinary retention, and are coated with lubricants to make it comfortable and hygienic to use.
• In 2019, Safe Medical Design Inc., procured FDA approval to commercialize its new catheter designed to reduce to urethral trauma.

FMI’s report includes profiles of some of the most prominent names in the market including Teleflex Incorporated, Cardinal Health, C.R Bard, B. Braun Melsungen AG, Coloplast A/S, Medtronic plc, Flume, ConvaTec Group, VOTG Medical, Sterimed Group, Ribbel International Limited, Angiplast Private Limited, Mais India Medical Devices Private Limited, and JK Medirise.