Urinary Catheters Market is Projected to Expand at a CAGR of 5.30% from 2017 to 2025

The global market for urinary catheters is highly competitive in nature and is expected to remain in the similar scenario in the next few years, states a new market research report by Transparency Market Research. The presence of a large number of players and the expansion of product portfolio are projected to enhance the competitive scenario of the market. The leading players in the global urinary catheters market are focusing on innovations and developments in order to attract a large number of consumers across the globe. In addition, the rising awareness among consumers is further estimated to accelerate the growth of the overall market in the next few years. Some of the leading players operating in the urinary catheters market across the globe are B. Braun Melsungen AG, TE Connectivity Corp., C.R. Bard Inc., Boston Scientific Corp., Coloplast, Cook Medical, ConvaTec Inc., Medtronic Plc, Hollister Inc., Teleflex Inc., and CURE MEDICAL LLC.

According to the market research study by Transparency Market Research, in 2016, the global urinary catheters market was worth US$3.13 bn. The market is projected to reach a value of US$5.0 bn by 2025, registering a healthy 5.30% CAGR between 2017 and 2025.

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Increasing Research and Development Activities to Drive North America Market

From a regional perspective, North America is expected to witness high growth throughout the forecast period. As per the study, this region is projected to account for a large share and continue with its dominance in the coming years, thanks to the presence of well-established biotechnology and pharmaceutical industries. In addition, the increasing research and development activities and the rising prevalence of neurovascular disorders are further estimated to accelerate the growth of the market in the near future. Furthermore, Europe is projected to stand at the second position in the urinary catheters market in the next few years. The rising research initiatives by the regional manufacturers in order to introduce new technology for urinary catheters is one of the key factors encouraging the growth of the Europe market in the next few years.

Among the key product types, the intermittent catheters segment is projected to account for a large share of the global market and is likely to retain its position throughout the forecast period. The high growth of this region can be attributed to the fact that intermittent catheters have quite less chance of obtaining catheter acquired urinary tract infection, which is considered as one of the most common forms of hospital acquired infections in several developed countries. In addition, several advancements in technology in intermittent catheters and the advent of less invasive and more efficient catheters are further projected to encourage the growth of this segment in the next few years.

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Increasing Urinary Incontinence to Accelerate Market Growth

The increasing prevalence of urinary incontinence due to increasing rate of obesity and rising geriatric population is considered as one of the key factors projected to encourage the growth of the global urinary catheters market in the next few years. The increasing number of surgical procedures and the favorable reimbursement environment are further estimated to accelerate the growth of the overall market in the near future.

On the flip side, the rising preference for alternative treatment options for increasing urinary incontinence is predicted to restrict the growth of the global urinary catheters market in the next few years. Nonetheless, the advent of self-catheterization and single-use catheters is likely to generate promising growth opportunities for the market players across the globe. In addition to this, the developing economies in several Asian nations are also predicted to enhance the growth of the overall market in the forecast period.

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This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Urinary Catheters Market (Product Type - Intermittent Catheters, Foley Catheters, and Male External Catheters) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”

Medical Gas Analyzer Market Opportunity will Rise to US$179.24 by 2024

The global medical gas analyzer market is characterized by a largely consolidated vendor landscape and dominance of a handful of large manufacturers that have operations in key regional markets, says a new report by Transparency Market Research (TMR).

The global market for medical gas analyzers is experiencing immense growth opportunities in developing and less developed economies. However, low-cost products from new market participants in emerging economies is expected to affect the market presence of dominant players. In this scenario, investments in research and development, innovation, and mergers and acquisitions are the key growth strategies that key market players have resorted to. For example, Servomex, a leading company for medical gas analyzer, introduced the next-gen multi-gas analyzer variant SERVOPRO MULTIEXACT 5400 in 2016, with features of paramagnetic, thermal conductivity, and zirconia. Another example is Teledyne Technologies that acquired Frontline Test Equipment Inc., and Quantum Data Inc. This enabled the former to incorporate data communication features into its products.

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As per estimates presented in a report by Transparency Market Research, the global medical gas analyzer market is projected to be worth US$179.24 mn by the end of 2024 from US$136.91 mn in 2016, expanding at a CAGR of 3.1% between 2016 and 2024.

The single gas analyzer product segment led the medical gas analyzer market with a share of nearly 84% vis-à-vis revenue and a share of over 97% in terms of volume in 2016. The segment is expected to rise at a CAGR of 3.2% between 2016 and 2024, mainly because of the low price factor and easy availability of the product segment.

Geography-wise, North America held the leading share of the medical gas analyzer market in 2016. The presence of an ultramodern healthcare infrastructure and stringent regulations in place to avoid medical gas accidents are accounted to be the leading drivers of the North America medical gas analyzer market.

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Stringent Regulations in Place to Remain Key Driver

Some of the key growth drivers of the global medical gas analyzer market include easy adoption of new variants of medical equipment, rapid pace of technological advancement, and the increasing number of hospitals and healthcare centers worldwide. The inclusion of gas sensing technologies such as paramagnetic, infrared, and zirconia that enable safer and speedier measurement of medical gases is also acting in favor of the medical gas analyzer market. Further, data communication and interactive features such as touch screen, alarm system, barcode reader, and data recording and storage that make the handling of medical devices easier is benefitting sales of medical gas analyzer.

The continuous emergence of stringent safety compliances and statutes for healthcare providers to adhere to them is also anticipated to display an increased demand for gas analyzers in the forthcoming years. Increasing number of hospitals, diagnostic centers, and healthcare centers, especially in emerging economies is expected to present growth opportunities to the medical gas analyzer market.

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High Cost Challenges Growth but Rental Business Opens Opportunities

On the flip side, high cost of new technologies that make them uneconomical for many end-users is acting as a significant restraint for the market’s growth. Nevertheless, several end-users are procuring them on rental basis, especially in regional markets where cost is a concern.

The review presented is based on the findings of a report by Transparency Market Research, titled “Medical Gas Analyzer Market (Analyzer Type - Single Gas Analyzer, Multiple Gas Analyzer; Technology - Electrochemical, Optical, and Infrared; End user - Hospitals, Ambulatory Surgery Centers, Pharma, Food, Diagnostics Centers, Research Institutes, and Laboratories) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

Cancer Biomarkers Market to Report a CAGR of 11.8% Between 2017 and 2025

The world market cancer biomarkers market is anticipated to flourish substantially within the forecast period that extends from the year 2017 to the year 2025. With various distinct segments of customer in the market propelling the demand for several types of products, it accounts for substantial scope of growth in the said market. In the years to come, the world market for cancer biomarkers is prognosticated to experience rise in competition. This is so owing to the fact that major players are taking up various strategies such as research and development activities, in a bid to sustain their position in the market.

The international market for cancer biomarkers is highly fragmented. Currently, the said market has numerous market players. The report profiles a few of the eminent market players in the world market for cancer biomarkers, such as, Genomic Health, Thermo Fisher Scientific Inc., Agilent Technologies, bioMérieux SA, Abbott Laboratories, Novartis AG, F. Hoffmann-La Roche Ltd, Hologic, Inc., Illumina, Inc., Merck & Co., Inc.,.and QIAGEN.

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In accordance with a recent market research report that has been published by Transparency Market Research, the world market for Cancer Biomarkers is forecasted to expand at a CAGR of 11.8% over the period between 2017 and 2025. The report also projects the international market for Cancer Biomarkers to reach a market valuation of around US$ 27.63 bn by the year 2025. The overall market was worth around US$ 10.25 bn in the year 2016.

North America to Lead the Market over the Period of Forecast

The world market for cancer biomarkers has been regionally segmented into the geographies of South America, North America, Asia Pacific, Middle East and Africa, and Europe. The region of North America dominated the international market for cancer biomarkers in the year 2016 and is anticipated to remain dominant through the period of forecast. This is owing to high prevalence of various forms of cancer, rising health care expenditure resulting in the increase of demand for better health care services and diagnostic tests, and number of technological advancements in the field of cancer biomarkers. However, the market in Asia Pacific is expected to register substantial growth rate by the end of 2025 owing to availability of large base of patient pool and rising awareness about health. In addition to that, high percentage of geriatric population and increased disposable income are forecasted to propel the growth of the market.

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Increased Government Initiatives to Trigger Market Growth

Rise in the funding for cancer research by many different organizations is one of the important drivers filliping the demand in the world market for cancer biomarkers. Governments, particularly in many of the developed countries are investing in the activities of research and development pertaining to the treatment and cure of tumor. Due to such activities, the world market for cancer biomarkers is forecasted to attain speed in the years to come. Besides, measures are being taken by several governments so as to spread awareness with respect to cancer and it is also turning out to be beneficial for the rise in demand for cancer biomarkers.

The information shared that has been in this review is based on a TMR business report that contains the title, “Cancer Biomarkers Market (Test Type - PSA Tests, CTC Tests, AFP Tests, CA Tests, HER2 Tests, BRCA Tests, ALK Tests, CEA Tests, EGFR Mutation Tests, and KRAS Mutation Tests; Disease Indication - Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Blood Cancer, Prostate Cancer, Ovarian Cancer, Stomach Cancer, and Liver Cancer) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025”.

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Asia Pacific Single-use Bioprocessing Systems Market is Projected to Expand at a CAGR of 12.50% from 2016 to 2024

The Asia Pacific market for single-use bioprocessing systems is expected to witness a high level of competition throughout the forecast period, states a new research study by Transparency Market Research. The increasing number of players operating in the Asia Pacific market is one of the key factor strengthening the competitive environment of the market. The leading players in the market are focusing on the development of new products in order to enhance their market position in the next few years. Some of the leading players in the market are Sartorius AG, Merck KGaA, Thermo Fisher Scientific, GE Healthcare, Saint Gobain, Danaher Corp., Corning, Inc., and Parker Hannifin Corp. In addition, the increasing number of mergers and acquisitions and strategic collaborations are projected to generate promising growth opportunities for the key players in the Asia Pacific single-use bioprocessing systems market.

According to the research study by Transparency Market Research, in 2016, the Asia Pacific single-use bioprocessing systems market was worth US$0.4 bn and is likely to reach a value of US$1.4 bn by the end of 2024. The market is estimated to register a progressive 12.50% CAGR between 2016 and 2024.

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From a geographical perspective, China is expected to lead the Asia Pacific single-use bioprocessing systems market throughout the forecast period. As per the research study, this segment is likely to remain in the leading position in the coming years and is likely to account for a large share in the market. Furthermore, Japan is expected to witness high growth, thanks to the rising demand for prefabricated and for cost effective modular bioprocessing facilities. In addition, the launch of new products and the development of the pharmaceutical industry are projected to accelerate the growth of the single-use bioprocessing systems market in Japan throughout the forecast period.

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Biosimilar, Vaccine production, blood plasma products, cell therapy, and several other bio pharma products are some of the major application segments of the single-use bioprocessing systems market in Asia Pacific. Among these, the vaccine production segment is estimated to witness high growth throughout the forecast period. As per the study, this segment is likely to remain in the leading position throughout the forecast period, owing to the rising prevalence of chronic diseases in Asia Pacific

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The rising number of applications of single-use bioprocessing systems and the reduced time consumed by sterilize in place and clean in place are some of the major factors that are expected to encourage the growth of the overall market throughout the forecast period. On the other hand, the lack of awareness regarding innovative disposable products and technical difficulties are projected to restrict the growth of the market in the near future. Nonetheless, the requirement of low capital investment and cost effectiveness are likely to offer promising growth opportunities in the coming years.

Tissue Diagnostic Market to Attain a Value of US$8.02 bn by 2024

The global tissue diagnostic market has been envisaged in a report by Transparency Market Research (TMR) to include five leading companies that secured a more than 67.0% share in 2016. Danaher Corp., Becton, Dickinson and Company, Roche Holding AG, Agilent Technologies Inc., and Thermo Fisher Scientific are these companies that constantly focused on mergers and acquisitions to sustain their dominance and grow their presence in the market. There could be a strong potential for new companies with some expertise to exist in the market. The analysts authoring the report have also thrown light on other areas of the competitive landscape.

By the completion of 2024, the global tissue diagnostic market has been prophesied by TMR to earn an US$8.02 bn at a 9.50% CAGR applicable for the forecast tenure 2016-2024. In 2016, the market had achieved an estimate revenue of US$3.57 bn. In terms of product, instruments could take longer strides in the market to outshine with their larger share. This segment had collected a share of over 77.00% in 2016. By region, North America had gained a stronger share in the same year while garnering a revenue of US$1.4 bn. This could well lead to its higher ranking in the coming years.

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Improvement in Healthcare Infrastructure for Better Cancer Care Raises Expectations

The U.S. is projected by the Association of periOperative Registered Nurses (AORN) to witness an 80.00% increase in the count of people aged 65 years between 2010 and 2030. Since the elderly require medical care most of the time and are highly vulnerable to diseases, increase in geriatric population could augment the demand for tissue diagnostic services. Spiraling incidence of cancer could be a powerful factor increasing the demand in the world tissue diagnostic market. It is estimated that one in six deaths occur due to cancer on the global platform.

With the rising need for better care for cancer patients, there has been a noticeable improvement in healthcare infrastructure. This could impact the world tissue diagnostic market at an intermediate level in the near future. The use of imaging technology and computer-aided diagnosis (CAD) systems for detecting cancer in early stages has been foreseen to positively influence the market.

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Long and Costly FDA Approvals Delay Arrival of New Treatments and Potential Tests

Expensive healthcare cost as a result of factors such as high charges for treatments and diagnostic tests has been envisioned to hamper the growth of the international tissue diagnostic market. Private insurance companies implementing time-consuming and complicated processes to evaluate applicants and market their services could increase administrative expenses of healthcare providers. Moreover, unfavorable reimbursement and delay in the introduction of new treatments have been forecast to discourage the demand in the market. FDA approvals could be tiring, take more time than usual, and also incur a large expense.

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However, expansion in developing countries due to their increasing disposable income, high awareness, and economic development could create some opportunities in the international tissue diagnostic market. Technological development and innovation, rise in mergers and acquisitions, and swelling awareness have been expected to be other factors improving market growth.

US Knee Implant Market will Likely to Expand at a Steady CAGR of 5.3% by 2024

The US knee implants market is expected to be highly consolidated owing to the growth in knee implant industry in the entire healthcare sector. Smith & Nephew, Johnson & Johnson, Stryker Corp., and Zimmer Biomet Holdings Inc. are the four topmost firms in the US knee implant market and are foreseen to hold over 85% of the overall share in the global market, collectively in the forthcoming years. Exactech Inc., B. Braun Melsungen AG, DJO Global Inc., OMNIlife science, Inc., Arthrex, ConforMIS, and MicroPort Scientific Corp. are the other important players. The dominance of key players is majorly owing to their increased concentration on various research activities, along with the constant product development in the US market of knee implants market.

According to Transparency Market Research (TMR), the US knee implants market is anticipated to expand at a robust CAGR of 5.3% within the foreseen period from 2016 to 2024. In 2016, the market was value around worth of US$4.3 bn. This market valuation is likely to grow around worth of US$7 bn by the end of 2024.

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On the basis of end users the US knee implant market is segmented into ambulatory surgical centers, hospitals, and specific orthopedic clinics. Among these, the segment of hospital accounted for the highest share in the market with 43%, in 2016, of overall end users segment. The segment is foreseen to remain at leading position in upcoming years as well due to rise in number of hospitals in the region. Geographically, the Midwest region is dominating the market, owing to increased ambulatory surgical facilities in the mentioned region. The surge in advancement of technology is contributing in the development of the US knee implants market in Midwest.

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Improved Medical Services in Region to Surge Demand for Knee Implants in the US

The major driver for the U.S. knee implants market is the rising of geriatric population in the nation. The betterment in medical facilities and standards in the developed regions has resulted in a consistent improvement in the nation, which has now prompted a circumstance where the geriatric statistic has continued expanding to phenomenal levels. This has profited the healthcare industry to a great extent, as old age people are more inclined to experience the ill effects of a various types of wellbeing concerns, including joint and bone issues that require the utilization of implants. The relentless improvement of the healthcare facilities is hence prone to have a double advantages on the U.S. knee implants market, as quick innovation will prompt the accessibility of advanced knee implant devices, while the change in the entire healthcare norms will prompt development of an indispensable customer statistic.

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Increased Cases of Obesity to Support Market Growth in Future

The rise in number of people suffering from obesity in urban areas, because of the rising popularity of undesirable eating methodologies and ways of life, is likewise liable to profit the U.S. knee implants market in the coming years. The urban statistic in the U.S. is in this manner estimated to end up being a key customer for the U.S. knee implants market.

Smart Medical Devices Market Will be Worth US$66.1 Bn by 2024

The global smart medical devices market has been studied in a report by Transparency Market Research (TMR) to witness the dominance of leading players due to their strong product portfolio, snowballing presence in different regions, and high brand recognition. Abbott Laboratories, F. Hoffmann-La Roche Ltd., and Apple Inc. have put their sophisticated products to good use to grab full attention of consumers while staying at the forefront of the market. In 2016, leading companies had secured a massive share of 43.0%, according to the report. Product innovation and penetration in developing markets have helped players to take a leading position in the industry.

TMR has envisioned the global smart medical devices market to bag a revenue of US$66.1 bn by the end of 2024 while expanding at a 7.8% CAGR between 2016 and 2024. In 2017, the market had secured a revenue of US$38.9 bn. By product, diagnostic and monitoring devices have been prognosticated to collect a larger share of 47.4% by the concluding forecast year. However, there may not be much difference between the share of this dominant product and that of therapeutic devices. On the regional front, the market could testify of North America’s dominance as it grows at a 7.5% CAGR. However, North America could slightly decrease its share by 2024, whereas Europe has been expected to increase its share during the same period.

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Large Segment of Geriatric Population Dependent on Smart Medical Devices

Susceptible to a broad scope of diseases, the ever-rising geriatric population could be a primary growth factor of the world smart medical devices market. Vendors have been relying on enviable properties of smart medical devices that help in the efficient management of diseases. Such properties of the devices have drawn a whole lot of dependency on them in the medical field. The adoption of smarter ways to manage various conditions, mounting awareness among patients, and technological advancement could make it easy for vendors to improve their business in the market.

The expansion of smart medical devices in terms of growth has been supported by increasing investments. Devices that help to monitor day-to-day fitness activities as well as manage messages and calls have assisted many to multitask proficiently.

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Smart Medical Devices Labeled as “Unnecessary Luxury” in Developing Countries

The perception of smart medical devices being “luxury items,” particularly in emerging economies, could have an undesirable effect on the global market. High cost of smart medical devices could be another factor deterring market growth. Furthermore, privacy concerns with regard to patient data have been projected to haunt the demand for smart medical devices.

However, players could take advantage of niche markets by improving the marketing of their products and creating awareness about them. For instance, although NeuroMetrix, Inc. has two chronic pain management devices widely used in the U.S., their awareness is relatively low outside the country. In the U.K., around 43.0% adults live with some kind of chronic pain, as per the findings of the Department of Health for England and Scotland. Companies could break the wrong perception about smart medical devices in emerging economies by creating awareness about health and fitness.

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If you are a new player, low entry barriers could encourage you to execute your business plans confidently when operating in the international smart medical devices market.