Market Research Future- Healthcare Analysis Reports: November 2019

Friday, 22 November 2019

Radio Pharmaceutical Market is set to Highest CAGR of 8.7% by 2022

Global Radio Pharmaceutical Market - Overview

Radiopharmaceuticals are drugs which are utilized for therapeutic or diagnostic reasons. These pharmaceuticals are inclusive of radiosotope bond to an organic molecule. These organic molecules carry the radiosotope to tissues, specific organs and cells as the properties of radiosotope are specific. These radioisotopes emits penetrating gamma rays that are used for diagnostic imaging where the radiation has to escape the body before being detected by a specific device (SPECT/PET cameras).

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Early diagnosis and treatment of chronic diseases outlines the importance of advanced imaging technologies and new radiopharmaceutical for diagnosis and treatment of diseases especially cancer. Healthcare providers are now using various radiopharmaceutical for cancer treatment by determining the demand and supply gap of healthcare resources. According to the World Cancer Research Fund International, in 2015, cancer was responsible for 8.8 million deaths, and is the second leading cause of death across the globe. Moreover, growing number of cardiovascular diseases has also upsurged the growth of the market. For instance, according to the American Heart Association, in 2017, about 92.1 million Americans were diagnosed with cardiovascular disease.

Furthermore, geriatric population is more susceptible to various communicable and non-communicable diseases due to weekend immune system. The rising geriatric population with chronic diseases such as cancer, heart diseases and others will create growth opportunities for the market. As per the Economic and Social Commission for Asia and the Pacific (ESCAP), geriatric population in Asia Pacific is expected to more than double from 547 million in 2016 to nearly 1.3 billion by 2050.

The global dental diagnostic and surgical devices market is expecting a healthy growth at a CAGR of ~9.0% during forecast period (2017-2022). According to a recent study report published by the Market Research Future, the global Radio Pharmaceutical market is expected to gain eminence over the forecast period. The market is forecasted to demonstrate a steady growth by 2022, surpassing its previous growth records in terms of value with a constant CAGR during the anticipated period (2017 – 2022).

Global Radio Pharmaceutical Market - Competitive Analysis

The market for Radio Pharmaceutical is characterised by the presence of several well-established and small players, the global market of Mobile Health appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The global radio pharmaceutical market is experiencing extreme competition due to major companies are focusing on the development of new and advances drugs for diagnosis and treatment of various chronic diseases.

For instance, in January 2018, the company received U.S. Food and Drug Administration (FDA) approval of its new drug application (NDA) for LUTATHERA used for the treatment of somatostatin receptor positive gastroenteropancreatic neuroendocrine tumors.

In October 2017, the company announced the acquisition of SurgVision, a high-tech start-up developing a real-time Fluorescence Image Guided Surgery platform, to address an unmet medical need for oncology patients requiring tumor removal surgery.

Moreover, in January 2018, the company entered partnership with F. Hoffmann-La Roche Ltd to develop integrated digital diagnostics platform to improve oncology and critical care treatment to accelerate and improve individualized treatment options for cancer and critical care patients.

In November 2017, the company entered into an agreement with Bruce Power to secure the long-term supply of Cobalt-60 for medical and other applications through the life of the four Bruce B reactors.

While in September 2017, The U.S. Department of Energy’s National Nuclear Security Administration (DOE/NNSA) and NTP completed conversion of medical isotope molybdenum-99 (Mo-99) production process from highly enriched uranium (HEU) to low enriched uranium (LEU) in August.

Therefore, new product launches, acquisitions and agreements are some major strategies which has adopted by the global radiopharmaceuticals to upsurge the growth of the market.

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CBD Hemp Oil Market Focus Top 10 Leading Players - Cannoid, Elixinol, Folium Biosciences, Gaia Botanicals, Canopy Growth Corporation, Etc

CBD Hemp Oil Market – Overview

As CBD is the next most prevalent cannabinoid, its application and demand have grown at a rapid pace in recent years. Market reports connected with the healthcare industry have been offered by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is projected to develop at a positive rate in the upcoming forecast period.

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The applications of CBD in pain relief, for the treatment of cancer symptoms, and its effect in reducing anxiety and depression is a major driver for the CBD hemp oil market. Thus, the application of CBD in relief and assist treatment is also being meaningfully expanded to other application areas to improve the market’s progress in the forecast period. Moreover, the application of CBD in the treatment topical skin problems is anticipated to boost the prospects available for the growth of the market.

Segmental Analysis

The segmentation of the CBD hemp oil market is carried out on the basis of application, region, product type, and distribution channel. On the basis of product type, the market for CBD hemp oil has been segmented into vape oil, spray, tincture, and others. On the basis of application, the market is segmented into pain relief, neurological disorder, diabetes, mood disorders, fibromyalgia, and others. Based on distribution channel, the CBD hemp oil market has been segmented into medical marijuana dispensaries, hospital pharmacies, retail pharmacies, e-commerce websites, and others. The regions considered in the market are Latin America, the Middle East, Europe, Africa, North America, and the Asia Pacific

Detailed Regional Analysis

The regional analysis of the CBD hemp oil market includes regions such as Latin America, Europe, Middle East, North America, Africa, and the Asia Pacific. The North American region holds a considerable share of the market and is expected to increase the traction in the impending years. The legalization of cannabis trade in countries like Canada has propelled the regional market on an ascendant growth trajectory. An extensive surge in the production of cannabis is predicted for the region, which is forecasted to expand the regional market in the coming few years. The market in the U.S. is also estimated to display noteworthy development in the imminent future. The factors supporting the growth of the CBD hemp oil market in the region are the widespread prevalence of chronic diseases, increasingly aging population, use of the oil for reducing neurological pain, etc. Meanwhile, the CBD hemp oil market in the Asia Pacific is expected to flourish in the forecast period. The substantial growth of countries such as China, India, and Japan are expected to drive the development of the market in the region.

Competitive Analysis

The employment of product differentiation has led to a favorable product differentiation scenario that is complementing the market’s growth. The participants in the market are trying to establish several USPs that will enable them to capture a more substantial share of the market. Additionally, the vertical additions and product tactics of the market is increasing the potential for the market players. The analysis of the market observes that the market is poised for an accelerated growth rate in the forthcoming years. Improved approachability to various resources and capabilities is projected to compel the growth of the market in the imminent forecast period. The use of successful strategy execution techniques is estimated to have a positive effect on the future growth of the market.

The prominent contenders in the CBD hemp oil market are Cannoid, ENDOCA, PharmaHemp,Elixinol, Folium Biosciences, Isodiol, Gaia Botanicals, Canopy Growth Corporation, Aurora Cannabis, Medical Marijuana, NuLeaf Naturals, CBD American Shaman, Aphria Inc., and others

Industry Updates:

Dec 2018 The US Congress has recently passed a bill that allows CBD products to be recognized as legal on the legislative level. The bill will allow the CBD products to be sold as products for consumers on retail store shelves. The bill also permits farmers to grow industrial hemp legally.

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Wednesday, 20 November 2019

Generic Injectables Market to Expand at a Robust CAGR of 13%Between 2017 and 2023

Market Highlights

It is estimated that the global generic injectables market is expected to register a CAGR ~13% during the forecast period of 2018–2023. Generic injectables is a key feedstock in pharmaceutical, diagnostics, biotechnology, diagnostic, and veterinary industries.

The Americas generic injectables market is expected to witness tremendous growth owing to the expansion of biosimilar products with off patenting of the major patented drugs is expected to drive growth of generic sterile injectable market during forecast period. For example, the loss of patent in 2017 for blockbuster brands such as Cancidas, Remicade, Cubicin, Invanz and Humira leading to entry of generic products. is also expected to drive the market. Other key factors such as the untapped market opportunities in emerging countries, growing investments by government organizations are contributing towards the growth of the market. However, in the negative perception of the consumers towards generic drugs coupled with stringent regulations laid down by the governments are few factors restraining the growth of the market.

On the regional basis, the generic injectables market in the Americas is predicted to dominate the market during the forecast period. The North American region holds substantial share in the global market. Unlike branded drug manufacturers that invest huge amount of capital on R&D and marketing, generic drug manufacturers do not require such investments. Furthermore, the number of competitors in the generic injectables market is lower as compared to oral generics, resulting in limited price erosion and significantly higher profit margins.

Currently, the global generic injectables market is dominated by numerous players. The major players in this market are involved in new product launches, strategic partnerships and collaborations to increase their product portfolio. For instance, in December 2016, Baxter acquired injectables from Claris for the production of injectable medicines such as anesthesia and analgesics, anti-infective, renal, and critical care medications.

The global generic injectables market is segmented on the basis of product type, container, application, and distribution channel.

Some of the key players in the global generic injectables market are Novartis AG (Sandoz International GmbH), Baxter, Fresenius SE & Co. KGaA, Mylan N.V., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals plc, Lupin Ltd., Sanofi, Biocon, Dr. Reddy’s Laboratories, Aurobindo Pharma, Sagent Pharmaceuticals Inc., Zydus Cadila, GlaxoSmithKline plc, AstraZeneca plc., among others.

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Hair Transplant Market To witness a 24%CAGR Through 2023

Hair Transplant Global Market - Overview

The Global Hair Transplant Market is growing with the rapid pace; mainly due to the increasing demand for Hair Transplant treatments and introduction of advanced technology in the Hair Care and Hair Rejuvenation industry.

According to a recent study report published by the Market Research Future, The global market of Hair Transplants booming and expected to gain prominence over the forecast period. The global hair transplant market is expected to reach USD 23,881.9 million by 2023 from USD 4,128.1 in 2016 with a CAGR of 24 % for the forecasted period. The numbers indicate that the market is going to grow in multi folds.

The market for Hair transplant is mainly driven by Social and cultural factors such as influence of media, fashion and film industry, peer pressure for appearance and beauty, changing dimensions of beauty etc. The growth of the tourism industry and formation of tourism clusters have not only increased exposure to Hair Transplant but have also created a high point demand for these treatments. There has been rising trend of Hair Transplant with a hefty 40% growth with men especially for beard. Additionally, health factors such as accidents, the safety margin that the treatment offers, and the growing number of Hair Transplant hospitals etc. are providing impetus to the market growth of Hair Transplant. Moreover technological factors such as development of advanced technologies like robotics hair-transplant are fostering the market growth further. Also, the fact that some Financing agencies, hair-transplant clinics and other medical practitioners who offer Hair Transplant procedure also offer easy financing plans; this factor also adds on the market growth of Hair Transplant market.

Appearances are important, our hair represents our personality and a head full of thick hair/mane is accountable for almost 80% of beauty. The deep personal relationship between hair and self-esteem is evident throughout history, philosophy and even religion. Everyone strives to have Shiny, thick and Healthy Hair. And this very desire catalyzes the notion of Hair Transplant.

Hair Transplant refers to a surgical technique that extracts hair follicles from a part of the body to a balding part. It is primarily used to treat male pattern baldness. In this minimally invasive procedure, grafts containing hair follicles that are genetically resistant to balding. Back of the head are transplanted to the bald scalp.

Hair Transplant Market - Competitive Analysis

Characterized by the presence of several well-established players having regional and international presence, the global Hair Transplant Market appears to be highly competitive yet consolidated. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, Technology and services. Hair Transplant market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further with an increase in service extensions, technological innovations. To gain the competitive edge and to stay abreast in the market; marketers ensure that the information about Hair Transplant procedures is provided thoroughly to the client only by a well-trained surgeon. They strive to offer uniquely customized solutions to reflect specific aesthetic preferences. These Key Players also ensure to provide the best possible patient care throughout Hair Transplant experience.

Hair Transplant Market - Segments

Global Hair Transplant Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.

Segmentation By Surgical Methods : Comprises - Follicular Unit Transplantation (FUT), Follicular Unit Extraction (FUE) and other.

Segmentation By Type of Surgery : Comprises - Head Hair Transplant, Eyebrow Transplant, Frontal Hairline Lowering or Reconstruction and other.

Segmentation By End User : Comprises - Trichology Clinics, Hospitals, Dermatology Clinics, and other.

Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

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Hair Transplant Market - Regional Analysis

Considering the global scenario of the market, the Americas is holding the largest market share. This market was valued at USD 2,240.7 Million in 2016. Asia Pacific is the second largest and fastest growing market and expected to grow at a CAGR of 24.3% during the forecast period. Europe hair transplant market is also growing significantly. The west European countries like Germany, France, and UK are holding major market share. While UK is believed to be fastest growing market for hair transplant in European region. Europe hair transplant market is expected to reach USD 3,647.3 million by 2033. Due to lack of knowledge of treatments, Middle East & Africa market for hair transplant is expected to grow at a steady pace.

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Veterinary equipment and disposables Market Synopsis and Highlights, Key Findings, Major Companies Analysis and Forecast to 2023

Market Highlights

It is estimated that the global veterinary equipment and disposables market is expected to register a CAGR ~ 14.70% with an estimated market value of 1.63 billion during the forecast period of 2018–2023.

Numerous factors such as increasing incidence rate of zoonotic diseases, increased spending on animal health and growing pet insurance is anticipated to fuel the growth of the market. For instance, according to the data published by the World Health Organization (WHO) in 2016, the expenses related to the prevention and control of rabies is estimated at USD 590 million annually in Asia and Africa, whereas the expenses for the prevention and control of rabies in 2015 was USD 545 million in Asia and Africa. However, the lack of awareness regarding animal health, high cost of veterinary equipment, and unaffordability of veterinary services in certain economies is restraining the growth of veterinary equipment and disposables market. For instance, Vet Times UK in 2016 stated that more than 60% of the population in Europe were not aware that vet medicines have a positive impact on the welfare of animals are are some of the factors restraining the growth of this market.

The global veterinary equipment and disposables market is currently dominated by many market players. The key players in the market are involved in new product launches and strategic collaborations to strengthen its market position. For instance, in August 2017, Henry Schein Inc. announced the acquisition of Merritt Veterinary Supplies Inc., an independent supplier of animal health products.

Regional Analysis

The market in the Americas is expected to dominate the global veterinary equipment and disposables market during the forecast period owing to the increasing per capita animal healthcare expenditure, increase in product innovation, and heavy adoption of new technology in the region. Europe is expected to hold the second largest position in the global veterinary equipment and disposables market. The market growth in this region is because of the presence of a well-established healthcare system and increase in insurance coverage for pets. The growth in the number of animal population coupled with the increase in the number of veterinarians is also contributing to the growth in the region. For instance, according to the facts and figures from the Royal College of Veterinary Surgeons, there were about 19,682 practicing surgeons in the UK in 2014. Asia-Pacific is estimated to be the fastest growing region in the market due to the increased pet adoptions and rise in the number of animal welfare programs. According to the India International Pet Trade Fair, the pet population in India grew from 7 million in 2006 to 10 million in 2014. The market in the Middle East & Africa is likely to account for the smallest share of the global veterinary equipment and disposables market. The market growth in this region owes to the low disposable income in the region.

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Segmentation

The global veterinary equipment and disposables market has been segmented into type, animal type, and end user. The market, based on type, has been segmented into critical care consumables, anesthesia equipment, fluid management equipment, temperature management equipment, research equipment, and rescue and resuscitation equipment. The market, by critical care consumables, has been further segmented into wound management consumables, fluid administration and therapy consumables, airway management consumables, gastroenterology consumables, needles, and others. The market, by anesthesia equipment, has been sub-segmented into anesthesia machines, ventilators, vaporizers, waste gas management systems, gas delivery management systems, and others. The market, by research equipment, has been segmented into lab evacuation systems, and induction chambers. The market, by rescue and resuscitation equipment, has been segmented into resuscitation bags, and oxygen masks.

The market, by animal type, has been segmented into small animals and large animals. The market, by end user, has been segmented into veterinary clinics, veterinary hospitals, research institutes, and others.

Key Players

Some of the key players in the global veterinary equipment and disposables market are B. Braun Melsungen AG, DRE Medical, Digicare Biomedical Technology Inc., Henry Schein, Jorgensen Labs, Medtronic, Midmark Corporation, Patterson Companies, Inc., Smiths Group plc, and Vetland Medical Sales & Services.

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Tuesday, 19 November 2019

Arachnoid Cysts Market- Global Trends, Size, and Share By 2023

Arachnoid Cysts Market Highlights

Arachnoid cysts are cerebrospinal fluid-filled sacs that are positioned between the brain or spinal cord and the arachnoid membrane. Arachnoid membrane is one of the three membranes that shields the brain and spinal cord. Increasing cases of brain abnormalities at the time of birth, rising prevalence of meningitis & tumors is driving the growth of the market. According to a study published by the National Meningitis Association, in December 2014, about 600 to 1000 people in the US suffer from meningococcal diseases every year. Additionally, the rising cases of rare diseases in children are likely to boost the market growth. On the other hand, lack of knowledge of the disease and risky brain surgeries may hinder the growth of the market during the forecast period.

The global arachnoid cysts market is currently dominated by many market players. The key players in the market are engaged in new product launches and strategic collaborations to strengthen its market position. For instance, in October 2014, Sophysa announced its collaboration with Solvay’s Solviva Biomaterials for using its Eviva polysulfone (PSU) resin to manufacture Sophysa’s implantable brain shunt valves, which are used for permanent drainage system surgery.

Regional Analysis

The market in the Americas is expected to dominate the global Arachnoid Cysts Market during the forecast period owing to the rising cases of meningitis and technological advancements in medical devices to diagnose diseases. According to a study published by the National Meningitis Association, in December 2014, out of all the people that are diagnosed with meningococcal diseases in the US, 10 to 15% people die. The European market is expected to be the second-largest due to rising number of brain & spinal surgeries resulting in complications which can lead to arachnoid cysts and rising healthcare expenditure in the region. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to raising awareness of meningitis & complications arising due to brain injuries and favorable government initiatives for healthcare facilities. The market in the Middle East & Africa is likely to account for the smallest share of the global arachnoid cysts market. The market growth in this region can be attributed to the rising government initiatives for improving the healthcare industry.

Segmentation

The global arachnoid cysts market has been segmented into type, diagnosis, and treatment.

The market, on the basis of type, has been segmented into, intracranial and spinal.

The market, by diagnosis, has been segmented into, CT scan, MRI scan, prenatal ultrasound, and other tests.

The market, by treatment, has been segmented into, permanent drainage system surgery, fenestration, and endoscopic cyst fenestration. Endoscopic cyst fenestration is expected to have the largest market share owing to its preference among the surgeons and also its high efficiency. Permanent drainage system surgery is anticipated to be the fastest growing market due to its long-term effects and its ability to not bringing the symptoms again.

Key Players

Some of the key players in the global arachnoid cysts market are Spiegelberg GmbH & Co. KG ., Sophysa, Aesculap, Inc., DePuy Synthes, Medtronic, Integra LifeSciences, Christoph Miethke GmbH & Co. KG, Tokibo Co. Ltd., Boston Neurosciences, Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY, Hitachi Medical Systems Europe, Siemens Healthcare Private Limited and FUJIFILM SonoSite, Inc.

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Monday, 18 November 2019

Custom Antibody Market 2018 by Regions, Type and Application, Forecast to 2023

Market Highlights:The Global Custom Antibody Market is expected to register a growth of significant CAGR 9.6% during the forecast period (2018–2023). The custom antibody provides high specificity and selectivity, these are easy to produce as compared to other antibodies and are hence the preferred choice in all types of research studies. Rising geriatric population, growing R&D investment and number of drugs in the pipeline are further anticipated to fuel the market growth. Growth in this segment is mostly driven by the need for high-quality antibodies for research reproducibility and producing high-quality therapeutics.

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Key Players:Some of the key players in the global custom antibody market are Thermo Fisher Scientific Inc., Genscript, Abcam PLC, Merck Group, Bio-Rad Laboratories, Inc., Cell Signaling Technology, Inc., Agilent Technologies, Inc., Biolegend, Inc., Rockland Immunochemicals Inc., Promab Biotechnologies, Inc., Proteogenix, Innovagen Ab.

Segmentation:The Global Custom Antibody Market has been segmented on the basis of service, source, type, research area and end users.On the basis of service, the market has been classified as antibody development, antibody production & purification, antibody fragmentation & labeling. The antibody development is segmented in to antibody characterization, antigen preparation, immunization & hybridoma production. On the basis of source, the market has been classified as mice, rabbits, human beings and others. On the basis of type, the market has been classified as monoclonal antibodies, polyclonal antibodies, recombinant antibodies, others. On the basis of research area, the market has been classified as oncology, infectious diseases, immunology, neurobiology, stem cells, cardiovascular diseases, other research areas. On the basis of end users, the market has been classified as pharmaceutical & biotechnology companies, hospitals and clinics, academic & research institutes, contract research organizations.

Regional Analysis:The Americas is projected to lead the custom antibody market in the forecast period. Increasing healthcare awareness, advancement in technology, medical tourism are some other factors that boost the growth of the market. Also, growing investments in the progress of structure-based drug designs, growing focus on developing antibody-based therapeutics, rising research in the fields of genomics field, increasing demand for good quality research tools for data reproducibility and the existence of a huge number of global players in this region.

The European market is expected to hold the second largest market share. The market is expected to witness growth owing to the rising patient population, changing lifestyle, and growing elderly population. This is expected to provide favorable backgrounds for the market to grow. According to the Parkinson’s news today, the frequency of Parkinson’s disease in the U.K. is about 1 in 500 people, with a total of about 127,000 people living with the disease. According to Capra Science, a European company specialized in custom antibody production, llama-derived nanobodies might find therapeutic application in Parkinson’s disease.

Asia-Pacific is projected to be the fastest growing region for the global custom antibody in 2018. It is expected to witness profitable growth over the forecast period due to the existence of favorable healthcare schemes drafted by government agencies and growing research activities in the field of mAb-based therapeutics. Awareness programs and quality assurance of diagnostic procedures have added importance in the developing economies of Korea, Taiwan, China, Sri Lanka and India since the last few years.

The Middle East and Africa accounts for the least share due to stringent government policies and low per capita income.

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Sunday, 17 November 2019

Size Of Contact Lenses Market Share, Trends, Growth and Demand

Market Highlights

The Global Contact Lenses Market is expected to register a CAGR of 5.70% during the forecast period with a market value of USD 12,330.46 Million till 2025.

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Contact lenses are plastic-like ocular prosthetic devices positioned on the eyeball for the improvement of vision. It allows a natural field of view, have no frames to obstruct one’s vision, and reduce distortions. Contact lenses are medical devices that the US Food and Drug Administration (FDA) controls and regulates. In addition, it is only possible to purchase cosmetic and prescription contact lenses with a prescription.

The growing adoption of contact lenses for correction of multiple vision defects including refractive errors such as myopia presbyopia hyperopia, , and astigmatism is likely to drive the growth of the global contact lenses market during the forecast period.

Segment Analysis

The global contact lenses market, by wear type, has been segmented into daily disposable lenses, disposable lenses, frequent replacement lenses, conventional lenses. Based on type, the global contact lenses market has been divided into corrective lens, therapeutic lenses, and cosmetic and lifestyle-oriented lens. The global contact lenses market, by material, has been segmented into silicone hydrogel soft contact lens, methacrylate hydrogel soft contact lens, gas-permeable contact lens, and others. The global contact lenses market, by design segments has been classified into spherical lens, toric lens, multifocal lens, others.

MRFR recognizes the following companies as the key players in the global contact lenses market—

Novartis AG, Neovision Co, Ltd, Seed Co. Ltd, Hoya Corporation, Oculus Private Limited, Camax Optical Corp., CooperVision, Inc. (The Cooper Companies Inc.), Menicon Co., Ltd, Bausch Health, Johnson & Johnson Services Inc., St. Shine Optical Co., Ltd.

Regional Analysis

The global contact lenses market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Americas is likely to hold the largest share of the global contact lenses market. The rising population of people who wear contact lens, increasing prevalence of eye-related diseases, and growing adoption of cosmetic lens among the younger population, and high funding toward R&D in the US and Canada are likely to support the dominance of the Americas during the forecast period.

The Europe market established substantial growth in the market owing to the high adoption of contact lenses and increasing occurrences of age-related eye diseases in countries such as the UK, Germany, France, and Spain.

Asia-Pacific is estimated to be the fastest growing region in the global market due to the increasing prevalence of eye disorders and rising adoption of contact lens among the youth. Additionally, rising investments by major players in the market in Asia-Pacific region is likely to drive the growth of the market.

The contact lenses market in the Middle East & Africa is expected to grow due to the rising awareness about contact lenses coupled increasing collaborations and agreements to commercialize contact lenses products.

Key Findings of the Study

The global contact lenses market is estimated to grow at USD 12,330.46 Million by 2025 at a CAGR of 5.70% during the assessment period.
Americas accounted for the largest share of the global market due to the presence of key market players and increasing prevalence of eye-related diseases in the US and Canada.
Based on wear type, the daily disposable lenses segment accounted for the largest market share of 5% in 2018.
Based on type, the corrective lens segment accounted for the largest market share of 2% in 2018.
On the basis of material, the silicone hydrogel soft contact lens segment accounted for the largest market share of 1% in 2018.
Based on design, the spherical lens segment held market share of 1% in 2018.
Some of the players operating in the contact lenses market are Novartis AG, CooperVision, Inc. (The Cooper Companies Inc.), Menicon Co., Ltd, Bausch Health.

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Hearing Aids Market is a Healthy CAGR of 7% During the Forecast Period of 2019 to 2025

Market Highlights

According to MRFR analysis, the global hearing aids market is expected to register a CAGR of ~7% during the forecast period of 2019 to 2025 and was valued at USD 8 billion in 2018.

A hearing aid is an electronic device which amplifies sound so that a person with hearing loss can listen, participate in daily activities, and communicate with others. The three basic parts of a hearing aid are a speaker, an amplifier, and a microphone.

The growth of global hearing aids market is driven by various factors such as increasing incidence of hearing loss, the launch of new products, increasing geriatric population, and raising awareness about hearing loss treatment. However, the low penetration of hearing aids and product recalls are expected to curb the growth of the global hearing aids market.

The global hearing aids market is currently dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.

Regional Analysis

The market has been divided, by region, into Europe, the Americas, Asia-Pacific, and the Middle East & Africa. Europe is expected to be the largest market owing to the rising incidence of hearing loss and sophisticated healthcare infrastructure. The European hearing aids market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Americas holds the second largest market share. The hearing aids market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The hearing aids market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing awareness regarding the use of hearing aids and increasing population affected by hearing disorders, the market in Asia-Pacific is expected to be the fastest-growing. The hearing aids market in the Middle East & Africa has been divided into the Middle East and Africa and is expected to hold the least market share.

Segmentation

The global hearing aids market has been segmented based on product, product type, type of hearing loss, technology type, and distribution channel.

The market, based on product, has been divided into devices, implants, and accessories, out of which implants is the fastest-growing segment. For instance, the Australia-based manufacturer Cochlear Ltd reported a profit of USD 265 to USD 275 million in first quarter of 2019, 8% to 12% more as compared to that in the first quarter of 2018.

The global hearing aids market has been segmented, on the basis of product type, into wired and wireless. Wireless is the fastest-growing segment owing to technological advancements and product launches. For instance, Sonova, in November 2018 launched products based on SWORD (Sonova Wireless One Radio Digital) chip. The new technology allows hearing instruments to connect with electronic devices such as televisions or mobile phones.

The type of hearing loss segments of the market are sensorineural, conductive, and others. The growth of the segment is due to the high prevalence of hearing loss. For instance, in 2018, around 2 to 3 out of 1000, children in the US are born with a hearing loss in one or both ears.

The technology type segment of the market is segmented as digital hearing aids and analog hearing aids. The digital hearing aids segment is expected to be both, the largest shareholder and the fastest-growing segment owing to its advantages over analog counterparts.

The distribution channel segment is classified into retail stores, E-commerce, and others. The E-commerce segment is expected to be the fastest-growing segment owing to ease of access to products for customers.

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Key Players

Some of the key players in the global hearing aids market are Sonova (Switzerland), Cochlear Ltd. (Australia), GN Store Nord A/S (Denmark), Sivantos Pte. Ltd. (Singapore), Arphi Electronics Private Limited (India), Demant A/S (Denmark), Starkey (US), WIDEX INDIA PRIVATE LIMITED (Denmark), Zounds Hearing (US), SeboTek Hearing Systems, LLC (US), Audina Hearing Instruments, Inc. (US), and Microson (Spain).

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Spirometry Market reaching the value of USD 1,106.76 million with CAGR 10.03% by 2023

Spirometry Market Overview:

The global spirometry market is expecting to touch a valuation of USD 1,106.46 million by 2023, according to Market Research Future (MRFR). The high prevalence of respiratory disorders is the major factor driving the market growth from 2018 to 2023 (forecast period). Rising cases of chronic obstructive pulmonary disorders (COPD), technological advances in respiratory care devices, and the expanding geriatric population are factors expected to spur market demand till 2023. As per a report by Asthma UK in 2016, nearly 1,410 people died from asthma.

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Government initiatives to curtail smoking habits, focus on breathing diseases, rising levels of air pollution, and adoption of spirometers at homes are factors likely to augur market growth. Awareness of reimbursement policies among the public and clinicians are projected to drive patients towards taking these tests. But high costs of spirometers can act as a deterrent against market growth.

Spirometry Market Segmentation:

The spirometry market can be segmented by product, technology, application, and end-user.

By product, the market is segmented into table-top spirometry, hand-held spirometry, and desktop (PC) spirometry. The table-top spirometry segment accounted for 49.9% market share in 2017, followed by hand-held (31%), and desktop (19.1%). This can be attributed to adoption of spirometers in hospitals and clinics. But the desktop segment is touted to register the highest CAGR of 10.58% during the forecast period owing to its rapid diagnosis rate and increasing use of computer-based applications.

By technology, the market covers flow measurement spirometry, volume spirometry, and peak flow meters (PFM). The flow measurement spirometry segment accounted for 50.3% share in 2017. This can be attributed to its lightweight nature and compact size. Its functionality based on the familiar table-top spirometer technology and lack of frequent calibration make it popular among clinicians. But the PFM technology can register 10.58% CAGR over the forecast period to reach USD 149.76 million by 2023.

Major applications of the spirometry market include diagnostic and treatment monitoring. The diagnostic segment is further sub-segmented into asthma, interstitial pulmonary fibrosis, and COPD. The diagnostic segment accounted for 68.93% share of the market in 2017, spurred by the prevalence of breathing diseases such as asthma. But the treatment monitoring segment can exhibit the highest CAGR during the review period to reach a valuation of USD 353 million by 2023. Its valuation in 2018 was suggested to be USD 214.12 million.

Key market end-users include hospitals & clinics, research & academic institutes, diagnostic centers, and home care. The home care segment is projected to enjoy a 9.90% CAGR to reach a valuation of USD 71.14 million by 2023 from USD 44.38 million in 2018.

Spirometry Market Regional Analysis:

The spirometry market covers the latest trends and opportunities across Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

The Americas accounted for 39.74% share in the global market in 2017, followed by Europe and APAC. This can be attributed to economies such as the U.S. which are the earliest adopters of latest technologies coupled with the large patient pool suffering from respiratory disorders. The region is likely to enjoy a 10.25% CAGR over the forecast period.

The Europe spirometry market is expected to enjoy a CAGR similar to the Americas market over the forecast period to touch a valuation of USD 322.33 million by 2023. This can be credited to rising number of asthma cases and ballooned healthcare expenditure of nations such as Germany and France.

The MEA region can experience a respectable CAGR during the review period owing to improvements of healthcare infrastructure and enhanced healthcare budgets of Kuwait, Qatar, and Dubai.

The APAC region is expected to exhibit a 10.94% CAGR over the forecast period owing to high cases of chronic diseases, awareness of respiratory devices, and increased healthcare budgets of developed nations in the region. The growing geriatric populace in China and Japan can contribute to regional market revenue till 2023.

Spirometry MarketCompetitive Dashboard:

Key players in the spirometry market include Smiths Medical Inc. (U.S.), Vitalograph (U.K.), MGC Diagnostics Corporation (U.S.), Hill-Rom Holdings, Inc. (U.S.), Schiller AG (Switzerland), COSMED srl (Italy), Midmark Corporation (U.S.), NDD Medical Technologies, Inc. (U.S.), Carefusion Corporation (U.S.), Nihon Kohden Corporation (Germany), and Koninklijke Philips N.V. (The Netherlands).

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future

+1 646 845 9312

Email: sales@marketresearchfuture.com