Interventional Radiology Market Value Share Analysis By Product Type, 2016 and 2024

Global Interventional Radiology Market: Snapshot

The use interventional radiology procedures is witnessing a huge surge across the globe owing to their minimally invasive nature and benefits such as less recovery time and hospital stay. A number of interventional radiology procedures are being regularly used for the treatment of diseases such as cancer, cardiovascular diseases, and traumatic inquiries, the prevalence of which is rising at an alarming rate globally. The field of interventional radiology also holds immense promise owing to the wide range of applications and technological advancements.

As a result, the global interventional radiology market is poised to observe significant growth in the next few years. Transparency Market Research estimates that market will exhibit a CAGR of 5.8% over the period between 2016 and 2024. If the prediction holds true, the market, which valued at US$13.8 bn in 2015, is expected to reach US$22.9 bn by 2024.

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Rising Numbers of Traumatic Injuries to Boost Demand for Embolization Procedures

In terms of application, the global market for interventional radiology is examined for angiography, balloon angioplasty, embolization, vertebroplasty, biopsy, kyphoplasty, and RF ablation. Of these, the segment of embolization is expected to account for a share of 24.2% of the global market by 2024. The segment also holds the dominant position in the market presently and accounted for a 23.8% of the global market in 2015.

The rising prevalence of traumatic injuries across the globe is expected to drive the increased demand for embolization surgeries worldwide. According to the National Trauma Institute, traumatic injuries account for nearly 41 mn visits to emergency departments and over 2.3 mn hospital admissions. Traumatic injury is also a serious public health issue globally and is expected to lead to an increased demand for embolization surgeries in the near future.

The angiography segment is projected to account for a share of 21.0% in the global market by 2024. The rising global prevalence of strokes and high demand for minimally invasive surgeries will allow the segment to expand at a favorable pace over the forecast period. Biopsy and vertebroplasty-kyphoplasty are relatively smaller segments of the market, with a collective share of nearly 11.8% in the global market in 2015. The segment of biopsy is expected to register a CAGR of 5.6% during the forecast period owing to the increasing prevalence of breast cancer.

Asia Pacific to Lead to Promising Growth Opportunities

With a 38.4% share, the North America interventional radiology market held the top spot in the global market in 2015. Rising demand for minimal invasive procedures and an endless supply of technological advanced devices and equipment are the major factors supporting the growth of the North America market. The x-ray segment gained the leading position in North America in the same year, accounting for over half of the market. Owing to factors such as improvement in technology, rising incidences of a variety of cancers, and well-established healthcare facilities, the North America market for interventional radiology is expected to expand at a swift pace over the next few years as well.

Although North America will continue to account for a higher share in the global interventional radiology market as compared to other regional markets over the forecast period as well, it is expected to lose prominence to the market in Asia Pacific in terms of rate of growth. The Asia Pacific interventional radiology market is expected to exhibit a 7.1% CAGR from 2016 through 2024. Rising prevalence of a variety of cancers, rising geriatric population, improving healthcare facilities, and rising disposable incomes and the relative rise in healthcare spending will play a key role in driving the Asia Pacific interventional radiology market over the said period.

The global interventional radiology market features a consolidated competitive landscape, wherein a relatively small number of companies account for a majority share in the market. Some of the key players operating in the global Interventional Radiology market are Agfa-Gevaert N.V., Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Corporation, Hologic, Inc., Medtronic plc., and Philips Healthcare.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Global Forensic Technologies Market to Rise at 12.4% CAGR from 2013 to 2019

The global forensic technologies market comprises numerous top players. The segment of DNA profiling in the forensic technologies market is the most dominant segment. The global DNA profiling market is proliferated by the presence of top players such as Bio-Rad, F.Hoffmann La-Roche, and Serva Electrophoresis GmbH, as per Transparency Market Research. 

The global forensic technologies market will touch US$17.7 bn by 2019, exhibiting a healthy 12.40% CAGR between 2013 and 2019. In terms of types of forensic technologies/services, the market is segmented into forensic technologies/services delivered namely, DNA profiling, biometrics/fingerprints analysis, chemical (drugs/explosives/toxicology) analysis and firearms identification and analysis. These are used for different purposes such as chemicals (drugs/explosives/toxicology) can be evaluated by emission spectroscopy/spectrophotometry, spectrometry, and chromatography. In addition, DNA profiles are forensically evaluated by DNA chip technology, mtDNA profiling, short tandem repeat (STR), and polymerase chain reaction (PCR) method, among others.

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Numerous Technological Initiatives to Bolster North America Forensic Technologies Market

In terms of geography, both Europe and North America held a huge share in the past due to the rising crime rates trailed by numerous technological initiatives being taken toward improving DNA profiling methodology in these regions. However in the coming years, the regions of Asia Pacific and Rest of the World (RoW) together are predicted to hold a share of around 60% by 2019. Hence, the overall market for forensic technologies and services in Asia Pacific is predicted to rise at a whopping 31% CAGR and will account for US$3,891 mn by 2019. On the other hand, RoW is poised to rise at a remarkable CAGR of 35% from 2013 to 2019.

The global forensic technologies market is poised to rise due to the increasing rate of crime globally. The increased level of crime will require an increased employment of forensic services/technologies. In addition, the level of sophistication has increased in crime over the past few years. This type of sophistication in crime is predicted to raise the popularity of new services and technologies that accurately evaluate the newer types of crime. The advent of these new technologies in the global forensic technologies market will further provide impetus to the development of the market, states a TMR analyst.

Decreased Government Spending to Emerge as Roadblock in Market Growth

On the other hand, the market is being hampered by the decreased spending of governments on forensic service and technologies. This happens due to the economy downfall in regions which result in budgetary cuts by governments and thus stop reimbursement and funding of publicly or government funded forensic labs. In addition, a number of regulatory constraints will also imped the growth of the global forensic technologies market

Nonetheless, the rising compliance costs for publicly/government funded forensic labs is a key opportunity seen in the global forensic technologies market” says a TMR analyst.

This information is based on the findings of a report published by Transparency Market Research titled, “Forensic Technologies Market (Physical Crime Forensics, Laboratory Forensics, Portable Forensics, Forensic Tools and Products) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.”

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Dental Prosthetics Market Share, Size, Growth & Forecast 2023 Illuminated by New Report

The global dental prosthetics market is consolidated, with the top five companies accounting for 58.8% of the market in 2014. These five companies are Institut Straumann AG, Nobel Biocare Holdings AG, DENTSPLY International, Inc., Biomet 3i, and Zimmer Holdings, Inc. Institut Straumann AG dominates the dental prosthetics market with its strong and wide product portfolio, whereas Nobel Biocare Holdings AG holds a significant share of the pie via strong emphasis on marketing and distribution in emerging economies such as China, Brazil, Eastern Europe, and the Middle East. 

The global market for dental prosthetics is estimated to reach a valuation of US$3.5 bn by the end of 2016. Rising at a healthy CAGR of 7.6% during the forecast period 2015–2023, the revenue in the market is expected to reach US$5.88 by the end of 2023.

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Segment of Dentures Projected for Strongest Growth Rate

The global market for dental prosthetics can be segmented on the basis of type and geography. By type, the market is segmented into crowns, bridges, veneers, dentures, and others including inlays and onlays. Based on type, crowns was the most prominent segment of the market in 2014, accounting for a share of 49.2%. This segmented is projected to expand at a CAGR of 7.6% during the forecast cast period due to high demand for these products and growing prevalence of dental caries. The segment of dentures is projected to witness the strongest growth in the next few years, fueled by the changing cultural attitude toward edentulism. Aesthetically, edentulism is considered less acceptable than before and hence, increasing pressure to replace missing teeth is contributing to the growth of this segment.

Geographically, Europe served the most prominent demand for dental prosthetics in 2014, accounting for a revenue of US$1.2bn. Europe is expected to remain the most significant regional market for dental prosthetics for the next few years, due to an increase in the prevalence of various oral diseases and high adoption of technologically advanced dental prosthetics. However, Asia Pacific is anticipated to expand at the most robust CAGR during the forecast period, owing to reasons such as rising geriatric population and an increase in investments by market players in this region.

Increase in Oral Diseases Driving Demand

Rise in geriatric population directly affects the growth and development of dental prosthetics as elderly people are most likely to lose their teeth. According to the World Health Organization, the global geriatric population is anticipated to reach 1.5 billion by 2050. An increase in the incidence of oral diseases (oral cancer, pyorrhea, and gingivitis) and the number of dental procedures is further fueling the global market for dental prosthetics. According to WHO, in 2012, 5% to 20% adults aged between 35 years and 44 years were diagnosed with severe periodontal diseases resulting in tooth loss. Growing medical tourism in developing nations is another factor fueling the demand for dental prosthetics.

Conversely, the dental prosthetics market is characterized by intense competition from local manufacturers who offer products at low cost. This is expected to hamper market growth as competition could lead to a fall in prices of products in order to protect market share.

According to the author of the report, “Since the markets in developed regions are saturated, emerging economies such as China, India, South Africa, Brazil, and Mexico offer lucrative new markets. Also, new product, service, and device development will help the players gain ground over their competitors.”

The information presented in this review is based on a Transparency Market Research report, titled, “Dental Prosthetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023.”

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

North America Drug Device Combination Products Market Revenue by 2019

The global drug device combination products market is a consolidated one with a few well-entrenched companies dominating it. The competition in the market is predicted to heat up further in the near future on account of players channelizing their energies into research and development of products with innovative technologies and improved functionality. The players are also competing with each other to capture the under-penetrated emerging economies. Stringent regulatory norms also induces competition among manufacturers to introduce their products first.

The key players dominating the market are Abbott Laboratories, Inc., Allergan, Inc., Boston Scientific Corporation, CareFusion Corporation and Medtronic, Inc. Abbott Laboratories has enhanced its global presence so far through maximizing business through collaborations and acquisitions and by augmenting its product offerings. Allergan has invested heavily in research and development to come up with innovative products. Boston Scientific has resorted to acquisitions again to strengthen its position.

The global market for drug device combination products was worth US$87.1 bn in 2015 and it is predicted to be worth US$115.1 bn in 2019.

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Underserved Asia Pacific to be the Engine for Growth

Based upon the type, the global drug device combination products can be segmented into infusion pumps, drug eluting stents, orthopedic combination products, transdermal patches, photosensitizers, wound care combination products, inhalers, intraocular implants, and drug eluting beads. Among them, the inhalers segment dominates the market with the maximum revenue. Going forward, it is expected to retain its dominant share in the market. It revenue in 2015 was US$32.5 bn. The market for transdermal patches followed next.

Geography-wise, North America has surpassed all other regions in terms of revenue generation year-on-year. In the upcoming years, it is predicted to maintain its leading position to reach a value of US$47.6% by 2019, even though it would pare some of its market share in terms of revenue. Europe stands second in terms of revenue generation. However, Asia Pacific is anticipated to steal the show by outshining all other regions. Its market is underpinned by numerous patients seeking treatment for cardiovascular diseases, diabetes, asthma, and obesity management. The drug device combination products market in emerging economies of the Middle East, Latin America and Africa will also enhance the growth in the market.

Growing Elderly Population at the Forefront of Driving Demand

A rising geriatric population at a heightened risk of having cardiovascular diseases, obesity, bone related disorders, various diabetes related disorders, and cancer, is at the forefront of driving growth in the global market for drug device combination products. Such people often suffer from severe fractures and hence require fracture risk assessment before the fracture happens. This is slated to fuel the market growth substantially. Another factor bringing about the growth is the increasing demand for minimally invasive surgeries. Explains the lead analyst of the report, “Minimally invasive surgeries suit the patient’s preferences due to the factors such as reduced post-surgical complications and side effects along with shorter patient recovery span and minimal pain. Therefore, the fact that interventional cardiology involving the implantation of stents and intraocular lenses is a minimally invasive procedure is proving to be a growth driver.”

One factor said to be countering the market’s growth is infections resulting from drug device combination products such as implants and associated product recalls. According to the analyst of the report, “Drug device combination products constantly face threats like product recalls owing to device malfunctions and side effects. Such attributes cause significant revenue losses for the manufacturers and thereby restrain the growth of the market.”

This review is based on the findings of a TMR report titled “Drug Device Combination Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019.”

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Molecular Diagnostics Market to Register a CAGR of 11.1% from 2013 to 2019 due to Declining Prices

The global molecular diagnostics market is teeming with large and small players involved in developing molecular diagnostics products. This makes the landscape highly fragmented and the competition stiff. Manufacturers are leveraging different strategies to maintain their foothold in the market. Besides investing in research to bring about product differentiation, they are also resorting to mergers and acquisitions to enhance their positions.

Roche Diagnostics is one of the main players operating in the market. It held a dominant share of 31.0% in the market in 2012 by dint of its wide array of product offerings in the areas of oncology, virology, genomics, women’s health, microbiology, and others. Cutthroat competition, however, is resulting in the loss of its market share. Novartis Diagnostics, which is considered a pioneer in the industry and a leader in the blood donor screening segment, followed in the second position in 2012. Other big names operating in the industry are Hologic, Qiagen, Cepheid, Abbott, etc.

The global market for molecular diagnostics is predicted to be worth US$8.66 bn by 2019, predicts a report by Transparency Market Research.

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Asia Pacific to Clock Maximum Growth Rate due to Prevalence of Chronic Diseases 

Technology-wise, the global market for molecular diagnostics can be segmented into polymerase chain reaction (PCR), transcription mediated amplification (TMA), microarray, hybridization (ISH and FISH), next-generation sequencing, and others. Among them, PCR, which finds application in generating millions of copies of DNA sequence through repeated cycles of heating and cooling, holds sway over the market with maximum share. Its market was worth US$2.08 bn in 2015. However, it is the next generation sequencing segment that is slated to outshine all other segments in terms of growth rate during the forecast period.

The global molecular diagnostics market can be segmented geographically into North America, Asia Pacific, Europe, and the Rest of the World. North America has been the dominant market so far and is predicted to maintain its leading share in the coming years too. The TMR report forecasts the market to reach a value of US$3.51 in 2019. Europe follows North America in terms of market share. Growth rate-wise, however, Asia Pacific is poised to overtake the two dominant regions up until 2019. A host of factors such as rising occurrence of chronic maladies, outbreak of H1N1, burgeoning elderly population, prevalence of hepatitis and HIV, economic development, and rising patient awareness are driving the market in the region.

Cancer one of the Main Drivers of Market

One of the main drivers of the global molecular diagnostics market is the alarming increase in the instances of cancer. The World Health Organization (WHO) predicts that the deadly malady will claim 13.1 billion lives from 2012 to 2030. It also warns that annual cancer cases will increase from 14 million in 2012 to 22 million in the next two decades. This would result in further emphasis on research and discovery of biomarkers to detect different types of cancers and thereby lead to a swift uptake of molecular diagnostics tests. Rise in chronic diseases and a growing geriatric population would also boost the market.

A major market deterrent is unfavorable reimbursement policies. “Insurance companies are refraining from reimbursing molecular diagnostic tests due to lack of appropriate coding system. The erstwhile Obama administration stopped paying bills for molecular diagnostic tests. Molecular tests help screen various biomarkers which aid in diagnosis and act as treatment guide for cancer and other diseases. The cost of these tests typically ranges from US$300 to US$3,000 per test and are considered the most important technologies for early detection,” explains the analyst of the report.

This review is based on the findings of a TMR report titled “Molecular Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019.” 

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Knee Cartilage Repair Market to Focus on Developing Countries due to Growing Patient Population

The global knee cartilage repair market had a valuation of US$1.6 bn in 2014. The market’s valuation is expected to rise to US$2.7 bn by 2023, indicating a CAGR of 5.80% between 2015 and 2023.

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Knee Cartilage Repair Market: Snapshot

The increasing prevalence of bone and joint disorders due to the sedentary lifestyle practiced by a growing part of the global population has been a prime driver for the global knee cartilage repair market. Diseases such as rheumatoid and other types of arthritis have become increasingly prevalent in recent years, aided by the unhealthy diet being consumed by the urban population. The convenience of modern knee cartilage repair products has also made patients more confident about their reliability, resulting in a smooth increase in demand. In addition, the increasing prevalence of road accidents and consequent long-term damage has driven the demand for knee cartilage repair procedures.

The knee is one of the most important joints in the human body and is thus the subject of significant research to identify and cure the various disorders associated with it. Knee cartilage repair and knee replacement have emerged as reliable surgical options in recent years for patients suffering from acute or chronic knee conditions. Knee cartilage repair, in particular, has become a crucial option for patients who have suffered a major knee injury.

North America to Remain Prime Regional Market, Rapid Growth Expected in APAC

Geographically, North America is the dominant regional market for knee cartilage repair products and procedures. The widespread prevalence of degenerative lifestyle conditions, the rising incidence of road accidents, and the relatively easy availability of advanced knee cartilage repair facilities have driven the North America knee cartilage repair market in recent years. The robust healthcare R&D framework in North America is likely to result in the production of progressively more efficient and cost-effective knee cartilage repair products in the coming years, ensuring steady growth of this regional market.

On the other hand, the role of Asia Pacific in the global knee cartilage repair market is likely to expand robustly in the coming years. While the Europe market for knee cartilage repair products is likely to retain a higher valuation than Asia Pacific through the forecast period, the vast scope for expansion in Asia Pacific means its growth is likely to be rapid. The Asia Pacific market for knee cartilage repair products is expected to exhibit a CAGR of 6.50% between 2015 and 2023.

Microfractures and Arthroscopic Chondroplasty to Remain Leading Knee Cartilage Repair Processes

Depending on the nature of the damage, knee cartilage repair can be achieved through various procedures. Some of the most widely employed knee cartilage repair procedures are arthroscopic chondroplasty, osteochondral grafts transplantation, autologous chondrocyte implantation, cell-based cartilage resurfacing, microfractures, and implants. Of these, arthroscopic chondroplasty is likely to remain the leading end-use application of knee cartilage repair products, with the segment expected to account for around 28% of the global knee cartilage repair market by 2023. 

Microfractures are also gaining solid demand due to the rising demand from athletes. Due to the low risk of post-surgical complications from the microfracture technique, it is steadily rising in demand in operations where ensuring long-term knee health is imperative. Though arthroscopic chondroplasty is likely to remain the leading contributor to the global knee cartilage repair market in the coming years, microfracture procedures will also remain a key market segment, with a valuation of US$729.2 mn expected by 2023.

Leading companies in the global knee cartilage repair market include B. Braun Melsungen AG, Smith & Nephew plc, Zimmer Biomet Holdings Inc., DePuy Synthes, Osiris Therapeutics, Inc., Stryker Corporation, and Vericel Corporation.

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Europe and Middle East Blood Gas and Electrolyte Analyzers Market to US$170.5 mn by 2024

Europe and Middle East Blood Gas and Electrolyte Analyzers Market: Snapshot

Blood gas and electrolyte analyzers have been subject to significant advancements over the years, witnessing a massive transformation from central laboratory applications to treatment for respiratory ailments and point-of-care diagnostic uses. Blood gas testing has been significant for critically ill patients for several years now and manufacturers of analyzers are conscious of the needs of the critical care testing, and offer devices that are easy-to-use and provide quick and accurate results. Moreover, manufacturers have focused on offering smaller sized, multi-parameter monitoring devices with expanding test menus due to increasing demand for advanced analyzers.

Transparency Market Research estimates that the Europe and Middle East market for blood gas and electrolyte analyzers will expand at a CAGR of 4.7% in terms of revenue from 2016 to 2024. Expanding at this pace, the market is expected to rise from a valuation of US$114.4 mn in 2015 to US$170.5 mn by 2024. In terms of volume, the market is exhibit a slightly higher 5.0% CAGR over the said period.

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Time- and Cost-effective Portable Analyzers Gain Increased Focus

For the study, the blood gas and electrolyte analyzers market has been segmented based on modality, product type, end-user, and geography. Based on product modality, the market has been segmented into laboratory analyzers, benchtop analyzers, and portable analyzers. Of these, the segment of laboratory analyzers presently leads, holding a 38% of the market in 2015. The segment, however, is losing market owing to the dearth of skilled laboratory staff in many countries across Europe and the Middle East and the relatively slower nature of laboratory analyzers.

These factors have shifted the preference of consumers to portable analyzers that can be used in point-of-care sites. Portable blood gas and electrolyte analyzers are easy to transport and prove to be the most cost effective when employed in test locations with a low test volume per day. Owing to these factors, the segment of portable analyzers is expected to gain wider acceptance in Europe and Middle East and exhibit a more than 5% CAGR in terms of volume as well as revenue over the forecast period.

Market in EU5 Countries to Hold on to Maximum Share in Overall Market

Geographically, the market in Europe and Middle East has been segmented into three regions: EU5, Nordics, and Middle East. The market in the EU5 region accounted for a massive share of 74% of the EME blood gas and electrolyte analyzers market in 2015. The region is expected to retain its dominant stance in the market in the near future as well, chiefly owing to the sophisticated health care sector, with major focus on quality of care in countries in Europe. Europe is the second largest medical devices market, and is also identified as a rapidly growing point-of-care diagnostics market. Germany dominated the EU5 market with nearly 36% share in 2015 and is expected to be at the forefront in the next few years.

The Nordics region, comprising countries such as Denmark, Iceland, Finland, Norway, and Sweden, accounted for a minimal share in the market in 2015. The Middle East accounted for a moderate 12.4% share in the market in the said year. The region offers opportunities in the blood gas and electrolyte analyzers market due to growing prevalence of a number of diseases leading to increase in patient burden. In the past few years, countries in the Middle East have rapidly developed their health care sectors and are making significant investments to improve the quality of health care in order to become attractive destinations for medical tourism.

In the largely consolidated competitive landscape of the EME blood gas and electrolyte analyzers market, some of the most impactful vendors are Abbott Laboratories, Nova Biomedical, Radiometer Medical ApS, Medica Corporation, ERBA Diagnostics Mannheim GmbH, Siemens Healthcare, Instrumentation Laboratories, and F. Hoffmann-La Roche Ltd.

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