Cancer Diagnostics Market Industry Analysis, Opportunities, Technology, Demand, Top Players and Growth Forecast 2031

Rising prevalence of cancer is likely to fuel the demand for cancer diagnostics. A study by Future Market Insights (FMI) projects the cancer diagnostics market to surpass US$ 47.62 Bn in 2021. According to the World Health Organization (WHO), cancer is the second -leading cause of death globally, accounting for over 9.9 million deaths in 2020. Rising cases of cancer have been fuelling the demand for advanced diagnostics.

Technological advancements in various fields such as biopsy, imaging, biomarkers and endoscopy, rising prevalence of cancer, increase in government initiatives for creating awareness, rapidly increase in geriatric population, and growing government funding are key factors driving the growth of the cancer diagnostics market.

Timely detection of cancer requires suitable diagnostic tests to screen the immunosuppressed population which is at moderate risk of cancer, particularly for lung cancer, cervical cancer, breast cancer, prostate cancer, colon cancer and melanoma. Growing awareness of early signs and symptoms of cancer among physicians and other healthcare professionals as well as among the general population supplements the growth of cancer diagnostics.

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Inclusion of cancer screening tests in National Cancer Screening Programs is another major factor expected to fuel the demand for cancer diagnostics. Introduction of regular mammography into national cancer programs by major developed countries where the incidence of breast cancer is high that is leading towards increasing adoption of cancer diagnostics in developed region.

For instance, the U.S. government has included the National Mammography Program in its national cancer screening programs. The government of Australia is taking initiative by conducting 3 cancer screening programs such as the National Cervical Screening Program, BreastScreen Australia and the National Bowel Cancer Screening Program. Similarly, most of the countries in Europe are continuously adopting HPV DNA screening for cervical cancer as a part of national cervical cancer programs.

Short-term Negative Impact Likely Due to COVID-19

The cancer diagnostics market is expected to experience short-term negative growth owing to a reduction in the cancer diagnosis procedures and adoption rate in developed and emerging countries. COVID-19 has impacted the landscape of cancer diagnostics. This has affected demand in various fronts, from prevention to screening and diagnosis, palliative care, treatment, and patient follow-up, to logistics and supplies of cancer diagnostic tests kits and other essential commodities.

Nonetheless after a period of muted growth, the market is poised to recover as economies return to normalcy. As per FMI, the rising incidence of lung cancer is attributable for over 19% of sales in the market.

Key Companies Profiled:

  • Abbott Laboratories
  • Roche
  • Thermo Fisher Scientific Inc.
  • Siemens AG
  • Bio Rad Laboratories Inc.
  • Illumina, Inc.
  • Koninklijke Philips N.V.
  • Canon Medical Systems Corporation
  • Agilent Technologies Inc.

Key Takeaways from Cancer Diagnostics Market Study

  • The rising incidence of cancer will fuel the demand for cancer diagnostics, enabling the market register 8.5% CAGR between 2021 and 2022
  • Increasing cases of cancer in the U.S. accounts for 84% of demand in North America
  • Increasing healthcare spending will enable the U.K. market register over 5% y-o-y growth in 2021
  • Favorable reimbursement policies will support growth in France and Germany
  • Expansion of the healthcare sector will support growth in Japan and South Korea

 “Advancements in cancer diagnostics and rising prevalence of cancer are expected to aid growth of cancer diagnostics. A majority of leading players in cancer diagnostic market are adopting strategic partnerships to sustain the increasing competitive pressure,” says the FMI Analyst

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Who is Winning?

Partnerships between cancer diagnostic assay kits developers, instrument manufacturers and technology licensers are often intended to increase the consumer base.

For instance, in March 2021, Illumina, Inc. signed a partnership agreement with Geneseeq Technology Inc. to develop comprehensive in-vitro diagnostic (IVD) NGS testing kits by using Illumina’s NextSeq 550Dx sequencing platform for cancer.

In June 2020, Thermo Fisher Scientific signed an agreement with Daiichi Sankyo to Co-launch a companion diagnostic for patients with non-small cell lung cancer for identifying Her2 gene mutations using the Oncomine Dx target test.

Cancer Diagnostics Market by Category

Test Type

  • Tumour Biomarkers Tests
    • PSA Tests
    • CTC Tests
    • AFP Tests
    • CA Tests
    • HER2 Tests
    • BRCA Tests
    • ALK Tests
    • CEA Tests
    • EGFR Mutation Tests
    • KRAS Mutation Tests
    • Others
  • Imaging
    • Ultrasound
    • Mammography
    • MRI Scan
    • PET Scan
    • CT Scan
    • SPECT & Others
  • Biopsy
    • Needle Biopsy
    • Endoscopic Biopsy
    • Bone Marrow Biopsy
    • Others
  • Liquid Biopsy
  • Immunohistochemistry
  • In Situ Hybridization

Indication

  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Melanoma
  • Blood Cancer
  • Prostate Cancer
  • Ovarian Cancer
  • Stomach Cancer
  • Liver Cancer
  • Others

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End-user

  • Hospital Associated Labs
  • Independent Diagnostic Laboratories
  • Diagnostic Imaging Centers
  • Cancer Research Institutes
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East and Africa (MEA)

Asia Pacific Reprocessed Medical Devices Market bring in a little over US$ 1 Billion by the end of 2027

Future Market Insights’ recent report on the reprocessed medical devices market in Asia-Pacific region projects that in 2017 and beyond, Japan, China and Southeast Asia will collectively account for more than 60% share of overall market revenues. The report estimates that reprocessed medical devices market in Asia-Pacific is presently valued at US$ 236.9 Mn. In a ten-year forecast period, the market is being projected to expand at 15.7% CAGR and bring in a little over US$ 1 Bn by the end of 2027.

In the report, titled “Reprocessed Medical Devices Market: Asia-Pacific Industry Analysis and Opportunity Assessment, 2017-2027,” Future Market Insights has compiled several factors that are impacting the dynamics of Asia-Pacific’s reprocessed medical devices market. Rising focus of government authorities towards dumping of medical waste or biowaste is slated to promote the reprocessing of medical devices. Manufacturers of medical devices are continuously striving to control their product costs for recording greater sales. Reprocessed medical devices, thus, become the most feasible option for both, manufacturers and end-users (hospitals). Availability of reprocessed medical devices at low prices, coupled with assurance of qualitative production, has also prompted the market’s growth to a considerable extent.

Cardiology Devices Getting Reprocessed at Higher Rate

The report reveals that in 2016, more than US$ 100 Mn worth of reprocessed medical devices turned out to be used in the field of cardiology. Demand for reprocessed cardiology devices is expected to continue surging in the years to come, registering the highest revenue CAGR of 18.4%. Reprocessing will also gain traction among laparoscopic tools & devices, revenues from which are predicted to reach US$ 111 Mn by 2027-end. Meanwhile, orthopaedic or arthroscopic devices, gastroenterology devices, ENT devices and other such medical devices will be showcasing a comparatively steady growth in terms of revenues.

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Key highlights from the research findings are as follows:

  • By the end of 2027, one of every two reprocessed medical devices sold in Asia-Pacific will be classified under semi-critical medical devices. This indicates that demand for reprocessing is higher for semi-critical medical devices, as opposed to critical or non-critical medical devices.
  • The most prominent method of reprocessing medical devices, observed across Asia-Pacific, is likely to be third-party reprocessing. Third parties assisting drugmakers in reprocessing businesses is serving as a consolidator for Asia-Pacific’s reprocessed medical devices market.
  • The report has identified hospitals as the largest end-user of reprocessed medical devices in Asia-Pacific. Similarly, diagnostic centres and ASCs will also contribute significantly, by exhibiting revenues growth at more than 11% CAGR.

Furthermore, the report has profiled leading reprocessed medical device manufacturers partaking in the Asia-Pacific region. Companies such as Stryker Sustainability, Medline ReNewal, Hygia Health Services, Inc., CLEANPART HEALTHCARE, ReNu Medical, Inc., SureTek Medical, and NEScientific.  

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The key segments in this market are as follows:

By Country

  • Australia
  • New Zealand
  • China
  • India
  • South East Asia
  • Japan
  • Rest of Asia Pacific

By Product Type

  • Gastroenterology Devices
  • Cardiology Devices
  • Laparoscopy Devices
  • Orthopaedic/Arthroscopic Devices
  • ENT Devices
  • Others
    • Pulse Oximetry Sensors
    • Ultrasound Catheters

By Classification

  • Critical
  • Semi-Critical
  • Non-Critical

By Reprocessing Method

  • In-House
  • Third Party Assisted
  • Non-Compliant Reprocessors

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By End User

  • Hospitals
  • Diagnostic Centres
  • Ambulatory Surgical Centres

Drugs of Abuse Testing Market growing at above 5% CAGR through 2031

As per a recent market analysis by Future Market Insights, the global drug of abuse testing market is projected to top US$ 1.5 Bn in 2021, expanding at over 5% CAGR over the forecast period.

Growth can be attributed to the increasing opioid dependence in the geriatric population as a result of high dosage prescription opioid use for pain management. Chronic pain is prevalent among patients suffering from arthritis, heart diseases, and cancer Opioids are prescribed for pain management, however, overdose can result in fatalities.

In response to this, manufacturers are launching rapid, accurate, disposable, and easy-to-use drug of abuse testing kits to detect drug dependence among the elderly. This is indicative of lucrative prospects for new market entrants over the assessment period.

Besides this, growing acceptance of recreational marijuana also has triggered concerns regarding overdose. Marijuana addiction is rare, although overdose can result in breathing disorders, memory loss, elevated stress and anxiety, and concentration issues. As a result, demand for drug of abuse testing systems in corporate and educational organizations is rising for early detection of substance abuse.

As per FMI’s in-depth regional analysis, the U.S. is projected to dominate the North America drug of abuse testing market. The presence of robust healthcare infrastructure along with the prevalence of an opioid endemic in the country is expected to continue pushing sales of drug of abuse testing tools.

“The introduction of integrated drug warning systems that monitor drug overdose in real-time is expected to fuel sales of drug abuse testing equipment. Besides this, increasing adoption of drug testing tools in forensic laboratories to identify illicit drugs for the criminal justice system are expected to continue augmenting growth of the global drug of abuse testing market through 2031,” says an FMI analyst.

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Key Takeaways:

  • Based on drug type, sales of drug of abuse testing for cannabinoids are expected to remain high through 2031.
  • In terms of technique, immunoassays will remain highly sought-after.
  • Demand for drug of abuse testing in forensic laboratories is anticipated to continue gaining traction over the assessment period.
  • The U.S. is projected to dominate the North America drug of abuse testing market owing to increasing prevalence of opioid dependence in the country.
  • The U.K. will continue exhibiting high demand for drug of testing systems in response to government initiatives regarding drug awareness and control measures.
  • China will emerge as an attractive market due to the presence of key market players and easy availability of raw materials for the manufacturing of testing products.
  • Japan will account for 7% of the total drug of abuse testing market share, while South Korea is expected to hold less than 1% of the total market share through 2031.

Competitive Landscape

Quest Diagnostics, Roche Holding AG, Thermo Fisher Scientific, Inc., Siemens AG (Siemens Healthineers), Abbott Laboratories (Alere, Inc.), Shimadzu Corporation, Express Diagnostics International Inc., Drägerwerk AG & Co. KGaA, and Laboratory Corporation of America Holdings are among the key players profiled by FMI.

Leading players operating in the global drug of abuse testing market are focusing on research and development to expand their product portfolios. Besides this, players are aiming at production facility expansions through mergers, acquisitions, and collaborations.

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Drug of Abuse Testing Market by Category

By Drug Type:

  • Psychostimulants
  • Narcotic
  • Cannabinoids
  • Sedatives
  • Others

By Technique:

  • Immunoassay
  • Chromatography
  • Rapid Testing

By End User:

  • Hospitals
  • Diagnostics Laboratories
  • Forensic Laboratories
  • Others

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By Region:                                                                                                     

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

Infusion Pumps Market to surge at a CAGR of 5.4% from 2020-2030

FMI’s recent report on infusion pumps projects the market to surge at a CAGR of 5.4% from 2020-2030. Growth is attributed to increasing diabetic population across prominent regions. As per World Health Organization’s projections, there were 422 million diabetic people as of 2014, with a 5% increase in premature mortality.

Consequently, there has also been an increase in associated co-morbidities such as strokes, heart attacks, kidney failure and visual impairment. As a result, infusion pump usage has upticked in order to provide the appropriate medication and nutritional input.

To facilitate efficient drug delivery, manufacturers have incorporated various technological advancements in recent years. Additionally, the advent of wearable and smart infusion pumps is further fueling the market’s revenue prospects.

Global Infusion Pumps Market- Key Takeaways

  • Rising prevalence of cancer to push forward oncology-grade infusion pumps usage in the coming years
  • Ambulatory pumps are poised to hold major sway in the wake of swift drug and nutrient delivery
  • Europe to pivot global infusion pumps market growth, capturing over 1/3rd of the revenue pie
  • Global infusion pumps market is likely to surpass US$ 6 Bn by 2030-end
  • Favorable business reimbursement policies are expected to bolster infusion pumps demand in coming years

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COVID-19 Impact Analysis

The COVID-19 pandemic is anticipated to have a moderate impact on the global infusion pumps market. In the initial months of the pandemic’s onset, a slump in the demand-supply equation was observed. This was in response to the imposition of lockdowns and social distancing protocols. Eventually, a resurgence was recorded.

In recent months, regulatory authorities such as the U.S Food and Drug Administration (FDA) issued emergency use authorization to increase the availability of infusion pumps and related accessories. Infusion pumps have been pivotal in administering vital medicines and parenteral nutrition to patients admitted for chronic ailments.

As hospitals reach a saturation point, governments are providing flexibility to infusion pump manufacturers to address supply shortages by permitting them to resume operations. This is slated to sustain the infusion pumps market demand in the short-term forecast.

Global Infusion Pumps Market- Competitive Intelligence

Prominent players 

  • Fresenius Kabi AG,
  • Terumo Corporation,
  • Medtronic Plc,
  • Baxter International Plc.,
  • Smith Medical,
  • MOOG Inc.,
  • Johnson & Johnson Services Inc.,
  • ICU Medical Inc. and
  • Becton Dickinson & Company among others.

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Product launches, expansions, collaborations and other inorganic strategies are being pursued by the aforementioned players. In 2019, Terumo Corporation announced the launch of its TERUFUSION Infusion Pump Type LM Series which utilize smart cutting-edge IT solutions to deliver optimal management and prevents inadvertent excess infusion of drugs into the patient.

In 2010, Hospira Inc. partnered with Smith Medical to market and promote various infusion pumps. The companies collaborated in order to co-promote Hospira’s Symbiq and Plum A+ general infusion pumps along with its Hospira MedNet safety software. The venture also promoted Smith Medical’s Medfusion syringe pumps with the PharmGuard Medication Safety Software.

More Insights on the Infusion Pumps Market Report

A recent market study published by FMI on the ophthalmic lasers market includes the global industry analysis of 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. The report incorporates an unbiased analysis of the following segments: product type (syringe pumps, ambulatory pumps, volumetric pumps, implantable pumps, insulin pumps, enteral pumps, PCA pumps and pump accessories), application (chemotherapy/oncology, pediatrics/neonatology, analgesia, gastroenterology, hematology and diabetes), end-user (hospitals, ambulatory surgical centers, homecare, clinics and others) and region (North America, Latin America, Europe, MEA, East Asia, South Asia and Oceania).

Infusion Pumps Market – Key Segment

Product Type

  • Syringe Pumps
  • Ambulatory Pumps
  • Volumetric Pumps (Peristaltic and Cassette/Piston)
  • Implantable Pumps
  • Insulin Pumps
  • Enteral Pumps
  • PCA Pumps
  • Pump Accessories

Application

  • Chemotherapy/Oncology
  • Pediatrics/Neonatology
  • Analgesia
  • Gastroenterology
  • Hematology
  • Diabetes

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End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Homecare
  • Clinics
  • Others

Region

  • North America
  • Latin America
  • Europe
  • Middle East & Africa (MEA)
  • East Asia
  • South Asia
  • Oceania

Dental Imaging Equipment Market is slated to witness a CAGR of 6% during the forecast period 2022–2030

Global dental imaging equipment market is slated to witness a CAGR of 6% through 2030, according to a new report by ESOMAR-certified firm Future Market Insights (FMI).

Dental imaging equipment is witnessing demand from developed as well as developing economies alike, mainly due to increase in the number of patients (as per  the WHO, around 50% of the global population (3.58 Bn) is suffering from oral ailments), coupled with the growth in the number of dental care centers. However, dental imaging is going “digital” now, though outbreak of Covid-19 has slowed down the market for the time being.

Digital Dentistry: The Future

In the year 2019, the IDC (International Dental Show) was attended by Institute of Digital Dentistry in Cologne, Germany. It threw light on the ways dentistry has evolved in the form of 3D printers, CAD materials, milling machines, and intraoral scanners. The institute otherwise provides training and CAD/CAM courses in New Zealand as well as online so as to keep the dentists and course attendees updated about clinical relevance and implementation of digitization by the key market players.

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Digital Expansion: Key to Growth

As stated above, the market players are looking to provide digital imaging solutions to cater to the increasing number of patients with dental ailments. Some of the measures taken in this regard include:

  • In Jun 2020, Level Equity-backed Planet DDS signed an agreement for acquiring Apteryx Imaging, a Canada-based publicly traded company with the objective to explore a wider arena in terms of geography
  • DENTSPLY Sirona Inc., in Oct 2019, launched 2 intraoral sensors (Xios AE and Schick AE) and 3D/2D imaging systems (Orthophos E, Orthophos SL 3D, and Orthophos S 3D)
  • In Oct 2019, Envista Holdings Corporation entered into a partnership with TeamSmile programs all through the US  for propagating the use of KaVo SMARTmatic and KaVo MASTERtorque LUX M8900L

Key Takeaways of Dental Imaging Equipment Market Study

  • Extraoral X-Ray held 28.6% of revenue share in the dental imaging equipment market in 2019
  • Independent dental clinics accounted for major revenue share of 69.1% in 2019
  • North America and Europe contribute account for over 60% of market share in the dental imaging equipment market

“The players are shifting their gears towards digital imaging. This upgradation is expected to shape the global dental imaging equipment market.” says an FMI Analyst.

More Valuable Insights on Dental Imaging Equipment Market

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 segments from 2015 to 2030. The global dental imaging equipment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provide compelling insights on dental imaging equipment market on the basis of product type, (Intraoral X-ray Systems, Intraoral Plate Scanner, Intraoral Sensors, Intraoral Phosphor Storage Plates, Extraoral X-ray Systems, Cone-Beam Computed Tomography (CBCT) Imaging, Intraoral Cameras), by End User (Hospitals, Ambulatory Surgical Centers, Independent Dental Clinics, Forensic Laboratories), across seven major regions.

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Leading Players in Dental Imaging Equipment Market

The dental imaging equipment market is onto the digital spree. Digital imaging systems are being provided by the key players to cater to the increasing number of patients throughout. At the same time, AI is being tried out as an effective tool for dental digital solutions.

In line with the above-mentioned developments, twin robotic X-Ray system from Siemens provides a combination of 2D X-Rays with fluoroscopy along with 3D imaging.

The key players in the dental imaging equipment including the ones mentioned above are:

  • Envista Holdings Corporation
  • Dentsply Sirona
  • Carestream Dental, LLC
  • Danaher Corporation
  • Acteon Group
  • Planmeca Oy

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report

dental imaging equipment market characteristics and attributes with regiional relevance
Dental Imaging Equipment Market: SegmentationThe global dental imaging equipment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.Product Type 

  • Intraoral X-ray Systems
    • Wall/Floor Mounted Intraoral X-ray Systems
    •  Hand-Held Intraoral X-ray Systems
  • Intraoral Plate Scanner
  • Intraoral Sensors
  • Intraoral Phosphor Storage Plates
  • Extraoral X-ray Systems
    • Panoramic X-rays Systems
    • Cephalometric Projections Systems
  • Cone-Beam Computed Tomography (CBCT) Imaging
  • Intraoral Cameras

End Users

  • Hospitals
  • Independent Dental Clinics
  • Ambulatory Surgical Centres
  • Forensic Laboratories

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Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • MEA
  • Oceania

Tinnitus Management Market size is likely to grow US$ 3.2 Billion by 2031

[301 Pages Report] According to a recent study by Future Market Insights (FMI), the global tinnitus management market is expected to register sustainable growth during the forecast period. The market size is likely to grow from US$ 2.5 Bn in 2021 to over US$ 3.2 Bn by 2031 at a CAGR of around 2.8% over the forecast period (2021-2031).

 

Rising prevalence of tinnitus, technological advancements in tinnitus management devices, and rise in research and development activities undertaken by key manufacturers are some of the factors driving the tinnitus management market.

Tinnitus is the medical terminology for a buzzing or ringing noise in the ears. Most people refer to tinnitus as “ringing in the ears.” Tinnitus can either be subjective or objective. Objective tinnitus is uncommon. Subjective tinnitus is very common, accounting for maximum sales of tinnitus management devices and drugs worldwide.

Tinnitus is the third most common health concern among the people throughout the globe. About 10%–15% of adults have prolonged tinnitus requiring medical evaluation worldwide. This increasing prevalence of tinnitus will propel the growth of tinnitus management market over the forecast period.

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Manufacturers are increasingly focusing on quality, technological, and aesthetic features when developing devices such as invisible devices, cloud integration, Ai integration, and drugs with lowest possible side-effects. This is expected to have a positive impact on the global market.

“Technological improvements in tinnitus management devices will remain a priority for the market players. Apart from focus on innovations, market players are expected to aim at strategic collaborations to gain expertise and expand their product portfolio,” says the FMI Analyst.

Key Takeaways from Tinnitus Management Study

  • By product, devices hold the maximum share of 93.8% in 2021, expanding at 2.9% CAGR during the forecast period.
  • By indication, subjective tinnitus will account for 95.6% of the market share in 2021 exhibiting the highest demand.
  • By distribution channel, audiology centers & ENT clinics together account for more than 60% of the market share in 2021.
  • By region, North America held the largest share of 52.7% of the global tinnitus management market in 2021.

The key market players covered by FMI include

  • Signia
  • Starkey Hearing Technologies Inc.
  • GN Hearing A/S
  • Widex A/S
  • Oticon Inc.
  • Neuromod Devices Ltd.
  • Neuromonics Inc.
  • Puretone Inc.
  • Pfizer Inc.
  • Sanofi and GlaxoSmithKline.

Some of the leading manufacturers of tinnitus management market are focusing on product launch, collaboration, and partnership strategies for global expansion objectives, thereby, enhancing their market presence.

  • In October 2020, Starkey and OrCam partner to provide groundbreaking assistive technology to hearing and visually impaired people.
  • In March 2019, Sivantos Pte. Ltd., and Widex A/S, announced the successful completion of the business combination between Sivantos and Widex. The newly created company will operate under the name WS Audiology and be headquartered in Lynge, Denmark and Singapore.

tinnitus management market key regions and product type mekko chart 2021

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Tinnitus Management Market by Category

By Product:

  • Devices
    • Sound Masking Devices
    • Notched Music Devices
    • Hearing Aids
  • Drugs
    • Tricyclic Antidepressants
    • Antianxiety
    • Anticonvulsants

By Indication:

  • Subjective Tinnitus
  • Objective Tinnitus

By Distribution Channel:

  • Audiology Centers
  • ENT Clinics
  • Hospitals
  • E-Commerce

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By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

Bone Growth Stimulators Market is expected to account for US$ 1,387.7 Million by the end of 2029

Various alternative therapies and treatments for fractures, which include synthetic bone grafts, amputation, and allografts, as well as non-invasive therapies, such as electrical bone growth stimulation and low-intensity ultrasound stimulations, have been introduced, which are responsible for driving the global bone growth stimulators market. According to the latest research by FMI, the global bone growth stimulators market is expected to account for US$ 1,387.7 Mn by the end of 2029. The bone growth stimulators market is estimated to grow at a CAGR of 5.2% through the forecast period 2019-2029. However, factors such as the high prices of devices and product recalls are expected to hamper the growth of the bone growth stimulators market.

Osteoporosis and osteoarthritis are among the common disabling joint disorders that are affecting millions of elderly people across the world. Some of the most common sites of osteoporotic fractures are the spine, wrists, hips, and shoulders. Thus, the increasing population suffering from orthopedic disease is creating high demand for bone growth stimulators. The cause of delayed bone healing and fractures is not known, however, it is creating a large economic impact on the market of bone growth stimulators.

Key Players

  • Bioventus LLC,
  • Zimmer Biomet Holdings Inc.,
  • Orthofix Holdings, Inc.,
  • DJO Global,
  • IGEA, and Ossatec Benelux Ltd.

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Over the past decades, spending on healthcare has grown globally. The growth of the emerging markets and increasing geriatric population in developed economies are among factors expected to boost healthcare spending, which is expected to subsequently expand the bone growth stimulators market. Increasing healthcare spending is expected to boost the demand for bone growth stimulators, which is, in turn, predicted to create high growth opportunities for players in the bone growth stimulators market over the forecast period.

Furthermore, the increasing number of fractures and technological advancements have increased non-invasive, and rapid technologies in the healthcare industry, which is boosting the bone growth stimulators market. Moreover, manufacturers are undertaking various efforts to provide bone growth stimulators that are more versatile and more convenient for patient use. According to the World Bank, around 1.25 million people get injured in road accidents, which leads to fractures and the requirement of fusion surgeries for their treatment every year. These are some of the prime factors that are expected to drive the global Bone growth stimulators market over the forecast period 2019-2029.

BONE GROWTH STIMULATORS MARKET STRUCTURE ANALYSIS

  • The global Bone growth stimulators market represents a consolidated competition landscape, wherein tier 1 companies of the Bone growth stimulators market hold a revenue share of approximately 80%
  • Some of the prominent companies in the Bone growth stimulators market include Bioventus LLC, Zimmer Biomet Holdings Inc., Orthofix Holdings, Inc., DJO Global, IGEA, and Ossatec Benelux Ltd.

The North America bone growth stimulators market and Europe bone growth stimulators market combined are expected to hold a share of approximately 65% of the global bone growth stimulators market during the forecast period. This can be mainly attributed to the high adoption of advanced technology and reduced hospital visits.

Based on the product type, the global bone growth stimulators market has been segmented broadly into non-invasive bone growth stimulators and invasive bone growth stimulators. Non-invasive bone growth stimulators are also segmented into various other sub-segments such as Capacitive Coupling (CC) devices, Pulsed Electromagnetic Field (PEMF) devices, Combined Magnetic Field (CMF) devices, and ultrasound bone growth stimulators. The non-invasive bone growth stimulators segment is expected to hold a prominent share of the global bone growth stimulators market.

Based on applications, the bone growth stimulators market has been segmented into trauma injury & fractures, spinal fusion surgeries, and osteogenesis. In terms of revenue, the trauma injury and fractures segment dominated the global bone growth stimulators market in 2018. Based on the end user, the bone growth stimulators market is segmented into hospitals, homecare settings, orthopaedic clinics, and ambulatory surgical centres. The hospitals segment held the maximum share of the bone growth stimulators market in 2018, and is predicted to continue to dominate the market throughout the forecast period.

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Key Segment

By Product Type 

  • Non-Invasive Bone Growth Stimulators
  • Capacitive Coupling (CC) devices
  • Pulsed Electromagnetic Field (PEMF) devices
  • Combined Magnetic Field (CMF) devices
  • Ultrasound Bone Growth Stimulators
  • Invasive Bone Growth Stimulators

By Applications

  • Trauma Injury and Fractures
  • Spinal Fusion
  • Osteogenesis

By End User

  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers
  • Homecare settings

By Region

  • North America
  • Latin America
  • Europe
  • Middle East and Africa (MEA)
  • East Asia
  • South Asia
  • Oceania

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Medical Carts Market is slated to enjoy a valuation of US$ 3.4 billion in 2022

[170 Pages Report] The global Medical Carts Market is slated to enjoy a valuation of US$ 3.4 Bn in 2022, and is predicted to surge at a CAGR of 7.8% to reach US$ 5.3 Bn by the end of 2028.

 

Growing need for quick access to mobile electronic health records at the point of care has led to surge in demand for medical carts globally. In addition, increasing demand for improving operational efficiency in the healthcare industry is projected to impact the global market growth of medical carts positively. Future Market Insights states that the global market of medical carts is projected to reflect a CAGR of 11.0% over the forecast period, 2022-2028.

Factors Fuelling the Global Market Growth

Growth of the global medical carts market is mainly bound to various macro-economic and micro-economic factors. As the need for accessing medical records at the point of care continues to increase, mobile healthcare technology is projected to witness significant adoption. Growing concerns regarding healthcare expenditure has further led the manufacturers to develop mobile technology carts for the outpatient facilities, large academic medical centers, and acute care centers. Adoption of medical carts equipped with technological features allows the end users to retrieve and store information to enhance patient safety. In addition, medical carts allows the end users to spend less time worrying about the technology and offer better services to the patients in the hospitals.

In order to offer ease of movement to the end users, the healthcare manufacturers are increasingly focusing on designing medical carts. Bad design elements include sharp edges in medical carts along with wheel design that impedes navigation and results in ineffective performance. In addition, inability to adjust the height of cart and lack of battery power indicator can also pose significant challenges for the end users while conducting an operation. Increasing demand for medical carts designed with ergonomics will further contribute towards the global market growth of medical carts over the forecast period.

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Adoption medical carts allows the caretakers to accommodate computers that can conveniently be accessed to perform multiple operations in the healthcare setup. As medical carts are incorporated with battery systems medically approved by FDA along with wireless technology, healthcare professionals and caretakers can conveniently access, store and retrieve the patient information in the clinics and hospitals. In addition, adoption of medical carts in various healthcare institutes has lowered the healthcare expenditure and also saves space. These factors are expected to impact the global market growth of medical carts positively throughout the forecast period.

Market Players

  • InterMetro Industries Corporation
  • Omnicell Inc.
  • Capsa Solutions Llc
  • Armstrong Medical Industries Inc.
  • Midmark Corporation
  • Medline Industries Inc.
  • ITD GmbH
  • The Bergmann Group
  • Ergotron Inc.
  • Jaco Inc.
  • AFC Industries Inc.

medical carts market

Sales to Remain High for Computer Medical Carts

Growing need to access the health records of patients at the point of care has led to surge in demand for computer medical carts in the healthcare industry. In terms of revenue, the computer medical carts product type segment is projected to represent the highest growth, recording more than US$ 1,800 Mn by 2028-end. On the other hand, the other product type segment is projected to reflect the fastest growth in the global market over the forecast period.

By 2022-end, the hospitals end users segment is projected to generate significant revenues, accounting for more than US$ 800 Mn. In contrary, the diagnostic centres end users segment is projected to reflect the highest CAGR throughout 2028.

Based on energy source, the non-powered segment is projected to witness a robust revenue growth, recording for more than US$ 3,100 Mn by 2028-end. On the other hand, the powered energy source segment is projected to reflect a significant CAGR over the forecast period.

During the forecast period, the plastic material type segment is projected to reflect the fastest growth in the global market of medical carts. However, the metal material type segment is projected to represent a robust revenue growth, accounting for around US$ 1,300 Mn by 2022-end.

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Key Segments of Medical Carts Industry Survey

By Medical Carts Market by Product Type:

  • Emergency Carts
  • Procedure Carts
  • Anaesthesia Carts
  • Computer Medical Carts
  • Other Product Types

By Medical Carts Market by End User:

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Diagnostic Centres
  • Other End Users

By Medical Carts Market by Material Type:

  • Metal Medical Carts
  • Plastic Medical Carts
  • Wooden Medical Carts

By Medical Carts Market by Energy Source:

  • Powered Medical Carts
  • Non-Powered Medical Carts

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By Medical Carts Market by Region:

  • North America Medical Carts Market
  • Latin America Medical Carts Market
  • Europe Medical Carts Market
  • East Asia Medical Carts Market
  • South Asia & Pacific Medical Carts Market
  • Middle East & Africa (MEA) Medical Carts Market

Hepatitis B Diagnostic Tests Market surpassing a valuation of US$ 1.26 Million by the end of 2028

[218 Pages Report] Future Market Insights presents a new report titled ‘Hepatitis B Diagnostic Tests Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’ that studies the performance of the global hepatitis B diagnostic tests market over a 10 year assessment period from 2017 to 2027. The report presents the value forecasts of the global hepatitis B diagnostic tests market and provides pertinent insights into the factors driving market growth as well as the factors restricting market growth. As per the figures provided by Future Market Insights, the global hepatitis B diagnostic tests market was estimated to be valued at nearly US$ 650 Mn in 2017 and is likely to reach a valuation of nearly US$ 1,200 Mn in 2027 and in the process exhibit a CAGR of 6.3% during the period of forecast 2017-2027.

High Prevalence Of Hepatitis B In The APEJ Region Boosting Global Market Revenue Growth

The prevalence of hepatitis B is highest in the APEJ region and the disease burden caused by chronic cases of hepatitis B is enormous. APEJ region has more number of chronic hepatitis B patients than any other region in the world and is thus a potential market for hepatitis B test kit manufacturers.

As per the data provided by WHO, China accounts for one-third of all chronic hepatitis B infections. In addition, 6.2% of the adult population in the Western Pacific region is infected with hepatitis B.

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In the South-East Asia region, an estimated 2% of the general population is infected with hepatitis B. According to Hepatitis Australia, approximately 225,000 people are living with chronic hepatitis B in the country.

As per the data provided by WHO, in India, the prevalence of hepatitis B surface antigen is 3% – 4.2% with over 40 million hepatitis B carriers. Due to such high prevalence of hepatitis B in the APEJ region, the market for hepatitis B diagnostic tests has a huge potential in the region.

Global Hepatitis B Diagnostic Tests Market: Segmentation And Forecast

The global hepatitis B diagnostic tests market is segmented on the basis of product type, end user and region.

  • On the basis of product type, the enzyme immunoassay kits segment was estimated to be valued at nearly US$ 590 Mn in the year 2017 and is likely to reach a valuation of nearly US$ 1,100 Mn in 2027, accounting for a CAGR of 6.2% during the assessment period 2017-2027.
  • On the basis of end user, the hospitals segment was estimated to be valued at nearly US$ 250 Mn in 2017 and is estimated to reach a valuation of nearly US$ 460 Mn in 2027, registering a CAGR of 6.1% during the period of assessment.
  • On the basis of region, the APEJ hepatitis B diagnostic tests market was estimated to be valued at nearly US$ 200 Mn in 2017 and is likely to reach a valuation of nearly US$ 380 Mn in 2027, accounting for a CAGR of 7.2% during the period of forecast.

Global Hepatitis B Diagnostic Tests Market: Competitive Landscape

This report features some of the important players functioning in the global hepatitis B diagnostic tests market such as bioMérieux SA, Bio-Rad Laboratories, Inc., DiaSorin S.p.A., Abbott Laboratories, Meridian Bioscience, Inc., Vista Diagnostics International, Biogate Laboratories Ltd., J.Mitra & Co. Ltd., Siemens Medical Solutions USA, Inc. and General Biologicals Corporation.

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Why Future Market Insights?

• Comprehensive analysis on evolving purchase pattern across different geographies
• Detailed insights of market segments and sub-segments for historical as well as forecast period
• A competitive analysis of prominent players and emerging players in the keyword market
• Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years

Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

Dry Eye Syndrome Treatment Market is expected to reach US$ 8.84 Billion by 2031

[314 Pages Report] Common forms of artificial tears are known for being quick-fix remedies to dry eye syndrome. Drops of artificial tears with CMC and HPMC formulations were a top-selling product in the global market for dry eye syndrome treatment. Now, new products formulated from derivations of hyaluronic acid are witnessing a soaring demand among dry eye syndrome patients from around the world. Future Market Insights’ latest study on the global dry eye syndrome treatment market predicts that developing products with hyaluronic acid formulations will be observed lucrative for the market’s overall expansion.

According to the study, the global market for dry eye syndrome treatment is anticipated to bring in over US$ 4,500 Mn revenues by the end of 2017. Growing preference of consumers towards preservative-free, single dose remedies on dry eye syndrome is expected to stimulate the market’s growth. The market is also expected to witness promising support from governments & private organisations through awareness campaigns and other initiatives in the field of ophthalmic care. Towards the end of 2027, the global market for dry eye syndrome treatment is predicted to expand robustly at 6.4% CAGR, roughly doubling the 2017 value estimations by reaching US$ 6,609.3 Mn.

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Dry Eye Syndrome Treatment Market – Key Trends

Public service programs in developed economies such as the US are providing eye care through volunteering ophthalmologists. These service are free of costs, successfully drawing attention of masses. Participation of government health authorities in such eye care drives is expected to promote the market’s growth. Reduced average length of stay (AVLOS) of dry eye syndrome treatment is also driving their demand among ophthalmology labs. Increasing demand for preservative-free eye care products, harmonised data collection, and availability of advanced labs to treat dry syndrome are also observed as key trends in the global dry eye syndrome treatment market.

Dry Eye Syndrome Treatment Market

Forecast Highlights & Key Players

The report has profiled key players in the global market for dry eye syndrome treatment. A competitive landscape on global dry eye syndrome treatment market includes companies such as Allergan Plc., Novartis AG, Otsuka Pharmaceutical Co. Ltd., Shire Plc., Santen Pharmaceutical Co Ltd., Valent Pharmaceuticals, Akorn, Inc., Abbott Laboratories, Thea Pharmaceuticals Limited, OASIS Medical, Altaire Pharmaceuticals Inc., Boiron USA, Similasan Corporation, Scope Ophthalmics Ltd., Reckitt Benckiser Group PLC., Medicom Healthcare Ltd., FDC Limited, Lupin Limited, Jamjoom Pharmaceuticals Co., and Sentiss Pharma Private limited.

Key highlights of the report include:

  • North America and Western Europe will collectively dominate the market throughout the forecast period, however, the individual revenue share will incur a marginal decline towards the latter half of the forecast period
  • Due to rising pollution levels and proximity of industrial contamination, the demand for dry eye syndrome treatment will surge significantly in Asia-Pacific excluding Japan region, reflecting fastest value growth at a CAGR of 7.4%
  • In 2017 and beyond, cyclosporine will be observed as top-selling product on dry eye syndrome treatment, global sales of which will account for a vigorous revenue growth at 6.9% CAGR
  • More than 60% of global dry eye syndrome treatment market will be dominated by sales through retail pharmacies, making them the largest distribution channel in the market.

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Why Future Market Insights?

  •   Comprehensive analysis on evolving purchase pattern across different geographies
  •   Detailed insights of market segments and sub-segments for historical as well as forecast period
  •   A competitive analysis of prominent players and emerging players in the keyword market
  •   Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years