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Urinary Catheters Market Size 2030 Scrutinized in the New Analysis

5 min read

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.

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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.

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.

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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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Life Science Reagents Market Outlook, Trend, Growth and Share Estimation Analysis

6 min read

Transparency Market Research (TMR) has published a new report on the life science reagents market for the forecast period of 2019–2027. According to the report, the global life science reagents market was valued at around US$ 37,000 Mn in 2018, and is projected to expand at a CAGR of nearly 8% from 2019 to 2027.

Life Science Reagents Market: Overview

Life science reagents play a critical role in the manufacturing and testing of pharmaceutical products, cell-based products, and several other healthcare-related solutions. The growth of the global life science reagents market is attributed to the increase in the global geriatric population, which is more prone to different types of infectious diseases. Moreover, the increase in the incidences of infectious diseases and technical advancements in the life science industry are boosting the growth of the global life science reagents market.

North America dominated the global life science reagents market in 2018, and this trend is expected to continue during the forecast period too. This is attributed to the increase in research and development activities in the region, which drive the demand for life science reagents to perform various research activities.

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However, the increase in the number of local manufacturers creating pricing pressure in the market is likely to hamper the growth of the global life science reagents market in North America during the latter half of the forecast period. Asia Pacific is expected to be a highly lucrative market for life science reagents during the forecast period.

Technological Advancements and High Prevalence of Chronic and Infectious Diseases to Drive Market Growth

Technological advancements in the field of life sciences and biotechnology have resulted in numerous changes in healthcare diagnostics, drug discovery, personalized medicines, forensic sciences, and clinical research & development, majorly driving the growth of the life science reagents market.

Developments in enzyme-linked immune assay technology (ELISA), polymerase chain reaction (PCR) such as digital PCR, rtPCR, chromatography, single cell technology, next-generation sequencing (NGS), and flow cytometry techniques, and their applications in the healthcare industry such as disease diagnostics and treatment monitoring are propelling the growth of the global life science reagents market.

Additionally, the diagnosis of infectious and chronic diseases is one of the leading applications of in-vitro diagnostics. Life science reagents (both, biological and chemical reagents) are integral and vital parts of the any diagnostic test.

The outbreak of infectious viruses such as Zika, in 2015, positively impacted the in-vitro diagnostic industry. This, in turn, increased the demand for life science reagents.

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Life Science Reagents Market: Immunoassay Reagents Segment to Remain Prominent

In terms of product, the global life science reagents market has been classified into chromatography reagents, molecular diagnostic reagents, immunoassay reagents, clinical chemistry reagents, flow cytometry reagents, cell & tissue culture reagents, hematology & hemostasis reagents, microbiology reagents, and others. The immunoassay reagents segment dominated the global life science reagents market in 2018 and the trend is likely to continue during the forecast period.

Life Science Reagents Market: Hospitals & Diagnostic Laboratories to be a Promising Segment

In terms of end user, the global life science reagents market has been divided into hospitals & diagnostic laboratories, commercial & contract research manufacturers, academic & research institutes, and others (blood banks, forensic laboratories, and government institutes).

The hospitals & diagnostic laboratories segment is expected to be a highly lucrative segment of the global life science reagents market during the forecast period. The segment is likely to be driven by an increase in the number of diagnostic tests.

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North America Prominent the Global Life Science Reagents Market

Geographically, the global life science reagents market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the global life science reagents market in 2018, followed by Europe. The region accounted for a major share of the global life science reagents market in 2018, owing to high research and development activities in the region.

The life science reagents market in Asia Pacific is projected to expand at a high CAGR from 2019 to 2027. This can be attributed to the increase in healthcare expenditure and large patient population, especially in countries such as India and China, in the region.

Life Science Reagents Market: Competitive Landscape

Hoffmann-La Roche AG and Thermo Fisher Scientific, Inc. lead the global life science reagents market.

The global life science reagents market is fragmented in terms of number of players. Key players in the global market include Hoffmann-La Roche AG, Danaher Corporation, Abbott, Siemens Healthineers, DiaSorin S.p.A, Sysmex Corporation, bioMerieux SA, Thermo Fisher Scientific, Inc., BD, Merck KGaA, Agilent Technologies, Inc., and Waters Corporation. Wide distribution network, new product development, and mergers & acquisitions are the key strategies followed by these major players to operate their businesses in the global life science reagents market.

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Nanotechnology Drug Delivery Market to Reflect Impressive Growth Rate by 2023

4 min read

The competitive landscape of the global nanotechnology drug delivery market is largely consolidated, with a small number of companies accounting for dominant share in the global market in 2014, observes Transparency Market Research in a recent report. However, the scenario is steadily changing as a number of new pharmaceutical companies foray into the nanotechnology drug delivery space in the lookout for innovative, more effective drug delivery techniques. The rising sums that new companies are investing in research and development in this field are allowing for a rise in R&D activities, helping the market expand at a steady pace.

Collaborations among leading pharmaceutical companies and technology developers is a trend that has picked pace in the market in the past few years. This is enabling massive improvements in clinical models used for evaluating the efficiency of nanomedicines. A number of companies are also focusing on the development of nanomedicines for the treatment of a variety of cancers. Some of the leading companies in the market are Amgen, Inc., Teva Pharmaceutical Industries Ltd., Johnson & Johnson, Novartis AG, and AbbVie, Inc.

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The report predicts that the global nanotechnology drug delivery market will expand at an excellent 12.5% CAGR from 2015 and 2023. If the predictions hold true, the market will rise from a valuation of US$ 4.1bn in 2014 to US$11.9 bn by 2023.

North America to Remain Most Lucrative Regional Market

Of the key applications of nanotechnology drug delivery examined in the report, the oncology segment emerged as the contributor in terms of revenue in 2014. Demand for nanotechnology drug delivery is expected to be the highest in the oncology sector over the report’s forecast period as well owing to the massive rise in prevalence of a number of cancers and the high demand for effective treatment methods for cancers across the globe.

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Geography-wise, the market in North America accounted for the dominant share in the overall market in 2014. The region boasts a vast number of some of the world’s leading pharmaceutical companies, technology developers, and research institutions. Moreover, the massive rise in incidence rate of a number of chronic diseases has compelled governments in developed countries in the region to encourage R&D activities and the development of more effective ways of treating common diseases.

Vast Rise in R&D Activities Enable Development of New Drug Delivery Models

The global market for nanotechnology drug delivery is chiefly driven due to a host of factors, including advancements in nanotechnology, which have revolutionized the field of drug delivery, the rising prevalence of infectious diseases, a variety of cancers, and numerous chronic ailments, and the rising demand for novel and more effective drug delivery systems. The vast rise in research activities in the field of nanotechnology, which has enabled the discovery of several new and more effective varieties of imaging and therapeutic agents and thus the development of more reliable diagnostics and therapeutic options, are also spelling growth for the market.

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However, the market’s growth is limited by a certain degree owing to the uncertain regulatory scenario pertaining to the approval of nanotechnology products on a global front and the high cost of nanomedicines. The high cost of nanomedicines is especially a big challenge for the market when it comes to targeting emerging markets with cost-conscious consumers.

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Gynecological Devices Market to Register a Stout Growth by End 2023

4 min read

The global gynecological devices market is marked by a high degree of fragmentation due to the presence of several large and small manufacturers, reports Transparency Market Research (TMR) in a new business intelligence study. This leaves ample room for market consolidation in the near future. Nevertheless, top companies namely Boston Scientific Corporation, Cooper Surgical, and Olympus Corporation hold prominence on account of their extensive product portfolio and geographical outreach. These companies are vying to introduce non-invasive devices to serve a larger consumer base that will also help expand their geographical outreach. With increasing demand for medical help for women-centric health issues, there lies immense scope of growth for players in the gynecological devices market.

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At present, small as well as regional players hold significant share in the gynecological devices market. However, increasing entry barriers and stringent regulations for product approval are limiting the entry of new companies. Insufficient funding from venture capitalists is also challenging new companies to enter this market.

As per projections of a TMR report, the global gynecological devices market will clock 4.8% CAGR between 2017 and 2023. This will translate opportunities in the market to generate a revenue of US$22,589.9 mn by 2023 from US$17,015.9 mn in 2017. In terms of device type, gynecological surgical devices hold prominence in the market. Rising prevalence of single incision laparoscopic surgeries and advances in conventional endoscopic surgeries account for advances in gynecological surgical instruments. Geography-wise, North America is a lucrative market for gynecological devices due to the early adoption of advanced gynecological devices.

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Efforts of Global Health Organizations for Women Health a Boon for Market

First and foremost, rising incidence of gynecological disorders such as uterine fibroids, cervical cancer, and menorrhagia is driving the gynecological devices market. In developing countries, healthcare infrastructural development and technologically advanced diagnostic services is favoring the gynecological devices market.

An increasing awareness among women in these countries regarding therapeutics for gynecological diseases is also stoking demand for gynecological devices. Global health organizations and non-profit organizations conduct periodic health check-ups in developing and underdeveloped countries for women health. This stokes demand for gynecological devices.

In urban areas, modern lifestyle and increasing professional and personal stress are also related to gynecological conditions. This is necessitating routine check-up for women-centric health issues that may require gynecological devices at secondary stage of therapeutics.

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Rising Preference for Minimally Invasive Procedures Stokes Demand

At present, acceptance of minimally invasive procedures generally is on the rise. This is because minimally invasive surgeries involve shorter hospital stay and faster recovery. Minimal scarring and ease of post-surgery care are leading individuals to opt for minimally invasive procedures. Gynecological surgery at one time meant big painful incisions, longer recovery periods, and intense monitoring. Due to this, open exposure surgical hysterectomies is increasingly being replaced with minimally invasive hysterectomies that involve the use of an electric morcellator surgical device.

Increasing public and personal healthcare expenditures and rising awareness of therapeutics for gynecological diseases in developing countries is cementing the growth of this market. Women health in these countries is increasingly being considered important for economic development thus drawing the attention of national governments.

However, long hauls for product approval and delays for product approval from regulatory authorities is providing headwinds to the growth of gynecological devices market. Stringent documentation and compliance requirements delay commercial availability of advanced first-mover products.

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Tumor Ablation Market Projected to Witness Vigorous Expansion by 2024

4 min read

A fresh report published by Transparency Market Research (TMR) states that the global tumor ablation market is witnessing high competition owing to increasing fragmentation. The global tumor ablation market exhibit various prospects in the tumor ablation market. The company such as Medtronic plc. is one of the key players in the global tumor ablation market.The company growth mainly depends on its various product portfolio and this helps the company to gain prominence its various competitors.

Some of the key players functioning in the global tumor ablation market are BVM Medical Limited, Sonacare Medial LLC, AngioDynamics, and Sonacare Medial LLC. The players functioning in the tumor ablation market are mainly focused in North America regions due to extensive healthcare facilities in the North America region.

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The revenue generated by the global tumor ablation market is anticipated to account for US$ 1949.5 mn by 2024 end. The global tumor ablation market is expected to grow at 12.2% CAGR during the course of forecast period from 2017 till 2024.

Radiofrequency Ablation of Technology Type Dominate Global Tumor Ablation Market

On the basis of technology, the microwave ablation is likely to dominate the global tumor ablation market as it is one of the popularized technology in the healthcare sector. Less duration of therapy and minimum side effects of the microwave ablation makes the technology more preferred. However, it has been noticed that the radiofrequency ablation technology is dominating the market owing to increase in liver cancer case across the globe. Geographically, North America is projected to account for staggering share of 35% in the overall market in coming years. In addition, advancement in healthcare sector couple with awareness about particular technology to propel growth of the global tumor ablation market in the foreseeable future.

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Growing Government and NGO Initiative to Boost Growth of Global Tumor Ablation Market

The global tumor ablation market is likely to register significant growth due to growing awareness among the consumers regarding the new line therapy for the treatment of cancer. Increasing public awareness about the cancer and growing supportive program by the NGO’s and government to supplement growth of the global tumor ablation market in the coming years. In addition, government is actively participating in several research related product to supplement growth of this market in the near future. Moreover, growing acceptance of several technologies is propagating growth of this market in coming years.

Increase in elderly population is boosting demand for minimally invasive surgeries as these technologies helps in reducing the distress with quick recovery. This further fuels the demand for the minimal invasive process such as radiofrequency ablation associated to invasive processes. Furthermore, increase in disposable income in developing and developed economies helping the consumer to prefer progressive therapies over the conventional one. This is one of the key trend supporting growth of the global tumor ablation market in the coming years.

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Lack of Awareness about Tumor Ablation Hampers Market Growth

On the other hand, the global tumor ablation market is likely to hamper growing owing to lack of awareness among the consumer regarding tumor ablation technique. The limitation of reimbursement policy likely to hamper overall growth of the global tumor ablation market. In addition, high expense associated with the product and research and development activities are another aspect limiting the market growth.

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Healthcare Contract Research Outsourcing Market Size to Expand Significantly by the End of 2025

7 min read

The global healthcare contract research outsourcing market was valued at US$ 30.0 Bn in 2016 and is projected to expand at a cumulative annual growth rate (CAGR) of 6.8% from 2017 to 2025 according to a new report published by Transparency Market Research (TMR) titled “Healthcare Contract Research Outsourcing Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025” the report suggests that increase product pipeline and efforts for optimization is spurring the growth of healthcare contract research outsourcing market in coming years (2017 to 2025). The North America and Europe are projected to dominate the global market owing increase in demand for cost optimization with reduced drug development timelines and flobalization of clinical trials. The market in Asia Pacific is projected to witness exponential growth rate with more than 8% during the forecast period 2017-2025. The growth of Asia Pacific region is attributed to the huge reduction of drug lag and cost moreover due to its high population growth, Asian countries also show higher disease incidence rates than other regions, thereby providing a viable environment for conducting of clinical trials. The market for healthcare contract research outsourcing in Latin America is likely to grow at moderate growth rate during the forecast period.

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Complex Regulatory and Growing Regulatory Burden to Fuel Market Growth

The global healthcare contract research outsourcing is projected to be potentially driven by the growing complexity of the regulatory procedures and increasing intervention of the healthcare providers in the drug approval and reimbursement process. The therapeutic expertise and varied regional filing process expertise offered by CROs is further fueling the healthcare contract research outsourcing market. The contract research organizations provides wide range of services and solutions to support regulatory filing at various stages of drug development process. These services and business solutions offered by the CROs help the healthcare companies to complete simultaneous regulatory submissions in different regions efficiently and effectively. The key players offering the healthcare contract research outsourcing are coming up with the strategic solutions for long term partnership supporting the healthcare companies at various stages of drug development, thereby reducing the overall development cost and thus, improving the cost effectiveness and efficiency of drug development process. Companies are focusing on the expansion of commercial services so as to effectively support the complete product lifecycle

Regulatory Services in Healthcare Contract Research Outsourcing is Projected to be Highly Lucrative Segment

Clinical trials are most common outsourced services by the healthcare companies. Due to the globalization of the clinical trials and the lack of therapeutic expertise in the for new drug development in unexplored niche market. However the outsourcing of regulatory services is growing due to the increased stringency of the regulatory bodies, complex regulatory process and changing regulatory requirements according to the region.

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Oncology/Hematology segment in Healthcare Contract Research Outsourcing Leads the Market

The report offers the detailed segmentation by therapeutic area of healthcare contract research outsourcing into oncology/hematology, CNS, CV/metabolic, respiratory, infectious diseases, immunology, rare diseases, medical devices and others. The oncology/hematology therapeutic segment is poised to account for leading share of the market during the forecast period 2017-2025. The factors attributed to higher share of oncology/hematology therapeutic segment includes huge unmet treatment needs, robust product pipeline, increased competition and increasing incidence of oncology. The various benefits available with outsourcing of oncology/hematology related services has led to key share of the segment in global market.

Pharmaceutical companies dominates the market and the segment is estimated to witness highest CAGR during the forecast period.

Among the end-user, the pharmaceutical companies accounted for leading share in global healthcare contract research outsourcing market and is estimated to grow with a CAGR more than 6% during the forecast period. Rise in complexity in drug development, need for reduced drug development timelines, cost effectiveness and the advantage of gaining therapeutic expertise along with outsourcing services has favored outsourcing services to the CROs has led to prominent share of pharmaceutical companies segment in the global healthcare CRO market. Development in the field of genetics, elaborate laboratory requirements, changing clinical trial environment, and requirement for detailed study data is likely to drive the expansion of biotechnology companies’ segment growth during the forecast period.

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Asia Pacific region represents potential business development opportunity.

The North America and Europe region accounted for key share of global healthcare contract research outsourcing market in 2016. The presence of world renowned research expertise in CNS, rare disease, oncology, immunology, and stem cells and advanced infrastructure of clinical research sites have contributed to leading share of these region in the global healthcare CRO market. Asia Pacific is projected to be the most attractive market for healthcare contract research outsourcing, with highest attractiveness index. The market in the Asia Pacific region is projected expand at high CAGR of over 8% during the forecast period due to the large patient population in the emerging countries like India and China, well established data integrity regulations and high digital healthcare IT budgets in the countries like Japan, Taiwan, South Korea Malaysia, Singapore etc. Market in Latin America is poised to grow at moderate growth rate during the forecast period.

Key trend of acquisition and collaboration among the leading players to expand the services and increase geographic presence has been observed in last few years.

The report also provide profiles of leading players operating in global healthcare contract research outsourcing market. Syneos Health, IQVIA, PRA Health Sciences, Inc., ICON PLC, and Laboratory Corporation of America Holdings etc. are some of the leading players operating in the global healthcare contract research outsourcing market accounting for significant market share. Companies operating in the CRO industry are aiming to expand their service offerings and increase their geographic presence by means of strategic acquisition and collaboration with leading players in respective domains and geography. In January 2017, INC Research Holdings, Inc. merged with inVentiv Health, Inc. expanding its business offerings in phase I-IV services. Other prominent players operating in the global healthcare contract research outsourcing include market PAREXEL International, Charles River, Medpace and Pharmaceutical Product Development, LLC.

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Vaccines Market is Expected to Expand at a CAGR of 6.0% from 2017 to 2025

4 min read

The demand within the global market for vaccines has been rising on account of advancements in the field of medical therapy and disease prevention, finds Transparency Market Research (TMR). There is a high probability of new vendors emerging in the global vaccines market in the years to come. The historic trends have been suggestive of the opportunities that have aided market growth in recent times. The leading vendors in the global vaccines market have engaged in core research and development in order to earn increased revenues. Furthermore, these vendors are projected to invest in new vaccination lines to elevate their standards of production.

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The competition in the global market for vaccines is expected to intensify in the years to come. This is because a large number of established players are moving neck and neck in the quest to develop more effective vaccines. The competition in the global vaccines market has further escalated on account of the emergence of newbie vendors in the global vaccines market. There is a heavy possibility of strategic alliances being formed in the global vaccines market.

Some of the key players in the global vaccines market are CSL Ltd, Janssen Pharmaceutical Company, GlaxoSmithKline plc., Pfizer, Inc., Mitsubishi Tanabe Pharma Corporation, and Sanofi Pasteur SA.

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Transparency Market Research (TMR) predicts that the global market for vaccines would expand at a healthy CAGR of 6.0% over the period between 2017 and 2025. Furthermore, the cumulative value of the global vaccines market is projected to reach US$ 48.0 Bn by 2025-end, rising up from a value of US$ 28.0 Bn in 2016. On the basis of vaccine type, the market for toxoid vaccines is expected to expand in the years to come. Based on geography, the market for vaccines in Europe is projected to accumulate humongous revenues in the years to come.

Availability of Vaccines for Kids to Propels

The global market for vaccines caters to the masses of all age groups, including children. The need to vaccinate children in order to prevent them from serious diseases is being felt across the world. Hence, the global vaccines market is projected to expand alongside advancements in the field of disease care and paediatrics. Furthermore, the market for vaccines has also expanded on account of the growth of new and advanced facilities across medical facilities such as healthcare centers and hospitals. Doctors and medical practitioners recommend all essential vaccines for people of various age groups which in turn pushes market growth.

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Emergence of New Selling Points to Aid Market Growth

The global market for vaccines has been expanding alongside increase in the number of distribution channels for vaccines. The popularity of institutional sales for the purposeof vaccination has created stellar opportunities for growth within the global market. Moreover, hospitals now have dedicated sections for vaccination and treatment which has in turn propelled market demand. Medication and injective vaccines are also available across retail pharmacies, and this another key consideration from the perspective of market growth. The revenue index of the global vaccines market is projected to reach new volumes in the years to come.

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Breast Imaging Market Size to Surge at the CAGR of ~8% form 2020 to 2028

6 min read

Breast Imaging Market: Introduction

According to the report, the global breast imaging market was valued at ~US$ 3.5 Bn in 2019 and is projected to expand at a CAGR of ~8% from 2020 to 2028. Breast imaging products are used by healthcare professionals, especially by radiologists and oncology hospital technicians, for the diagnosis of breast cancer and monitoring of breast cancer therapy. Different types of technologies used for diagnosis of breast cancer include ionizing breast imaging and nonionizing breast imaging.

The growth of the global breast imaging market can be attributed to the rise in number of people with breast cancer and increase in government initiatives. North America dominated the global breast imaging market in 2019, and the trend is anticipated to continue during the forecast period. Highly structured healthcare industry, early new product adoption, high penetration rate for breast imaging products, and presence of major players are expected to drive the market in North America. Asia Pacific is likely to be a highly lucrative market for breast imaging, expanding at a high CAGR during the forecast period.

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Growing Preference for Mammography Screening and Rise in Government Initiatives to Drive Market

Rise in incidence of breast cancer is one of the critical areas of concern in the global healthcare industry. Lack of awareness about breast cancer and benefits of early detection of the condition are the major factors that governments in developing countries are taking into consideration to control the morbidity rate and reduce the mortality rate of breast cancer.

Various governments are taking initiatives such as funding breast cancer screening in the respective countries; educating and spreading awareness; and arranging free breast screening campaigns to encourage women for breast cancer screening. Such governmental and non-governmental initiatives are expected to result in increased awareness about breast cancer, thereby boosting the rate of breast cancer screening worldwide.

The growing preference for mammography screening over other technologies is projected to propel the global market. Increase in public mammography screening programs, along with rise in investment for breast screening from governments is likely to drive the market.

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Ionizing Breast Imaging Technology to Dominate Market

Based on technology, the global breast imaging market has been divided into ionizing breast imaging, nonionizing breast imaging, and others. The ionizing breast imaging segment has been categorized into mammography, positron emission tomography-computed tomography (PET-CT), and molecular breast imaging (MBI). The ionizing breast imaging segment dominated the global breast imaging market in 2018 and the trend is projected to continue during the forecast period.  The American Cancer Society recommends early detection of breast cancer for better control and management. This has led to rise in use of mammography. Mammography is covered by almost all insurance companies.

Coverage of remaining breast screening techniques varies depending on the reimbursement offered by insurance companies. Increase in the use of mammography technique in the diagnosis of breast cancer is anticipated to fuel the growth of this segment. The nonionizing breast imaging segment has been sub-segmented into breast ultrasound, breast MRI, breast thermography, and automated whole-breast ultrasound (AWBU). The breast MRI segment is expected to generate higher revenue during the forecast period.

Hospitals to be Major End User

In terms of end user, the global breast imaging market has been categorized into hospitals & clinics, diagnostic centers, ambulatory surgical centers, and research centers. The hospitals & clinics segment dominated the global breast imaging market in terms of revenue in 2019. The trend is expected to continue during the forecast period. Factors such as increase in number of advanced hospitals with all facilities for breast cancer diagnosis are likely to accelerate the growth of the segment during the forecast period. In addition, increase in diagnosis rate of breast cancer in the U.S. is a key factor driving the hospitals segment. According to the American Hospital Association, total number of registered hospitals in the U.S. stood at 5,686 in 2015.

Diagnostic centers is projected to be a lucrative segment of the global breast imaging market during the forecast period. The segment is anticipated to expand at a significant CAGR from 2020 to 2028. Surge in number of diagnostic centers in developed regions is expected to drive the segment.

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North America to Dominate Global Market

In terms of region, the global breast imaging market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global breast imaging market in 2019, followed by Europe. North America accounted for a major share of the global breast imaging market in 2019, owing to high penetration rate of breast imaging product and presence of major players. In addition, increase in geriatric population coupled with rise in incidence of breast cancer among the population is anticipated to accelerate the growth of the segment. According to the American Cancer Society estimation, in 2020, about 42,170 women are likely to die from breast cancer in the U.S.

The breast imaging market in Asia Pacific is anticipated to expand at a high CAGR from 2020 to 2028. This can be attributed to increase in demand for breast imaging in countries such as India, China, and Japan; improvement of healthcare infrastructure in terms of better facilities; and rise in demand for advanced products in the region. According to the WHO, in 2018, total 162,468 new breast cancer cases were registered and 87,090 death occurred due to breast cancer in India.

Competition Landscape

The global breast imaging market is fragmented in terms of number of players. Key players in the global market include GE Healthcare, Koninklijke Philips N.V., Hologic, Inc., Siemens Healthineers, Fujifilm Holding Corporation, Canon Medical Systems Corporation, Aurora Imaging Technologies, Inc., Dilon Technologies, Inc., and Leica Biosystems Nussloch GmbH (Danaher).

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Life Sciences BPO Market to Gain ~US$ 420 BN by 2027

5 min read

Life Sciences BPO Market: Introduction

Transparency Market Research has published a new report titled, ‘Global Life Sciences BPO Market’. According to the report, the global life sciences BPO market was valued at ~US$214 Bn in 2018 and is projected to expand at a CAGR of ~8% from 2019 to 2027.

Broad and Growing Product Pipeline to Drive Adoption of Advanced Life Sciences BPO

Rise in demand for new drugs and novel therapies for treatment of diseases such as cancer and immunological disorders coupled with the evolving research & development process has increased the number of compounds in pipeline in the last decade. The development of biosimilar products, cellular therapy, and immune biological products has also contributed toward the advancing pipeline and need of stringent clinical trials in the past few years. This in turn drives the global life sciences BPO market.

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Efforts to Optimize Costs and Development Time

Escalating costs of conducting clinical trials, requirement of data quality, enrollment targets, financial demands regarding setting up of a clinical research practice, and other management related activities drive the outsourcing services. Outsourcing also improves the global reach with respect to drug development with minimum maintenance cost, as CROs are well-versed with regulatory requirements of various regions. According to the Tufts Center for the Study of Drug Development, outsourcing to CROs has supported companies in keeping R&D head counts stable, even though the number of active clinical trials across the world has increased by 80%. Moreover, trials outsourced to CROs are, on average, completed 30% sooner than in-house clinical trials, providing an average timesaving of four to five months.

Contract Manufacturing Organizations to Lead Global Market

Based on service type, the contract manufacturing organizations segment dominated the global market in 2018. Growth of the segment can be attributed to the low cost associated with the production of active pharmaceutical ingredients, as the companies do not have to buy equipment for manufacturing. Moreover, quick turnaround time contributes to the growth of the segment. The contract research organizations (CRO) segment is likely to expand at a high CAGR during the forecast period, owing to significant increase in the number of clinical trials and rise in the demand for new drugs. Significant increase in research and development costs, technological developments, and product innovation, which accounts for high R&D costs prompt several pharmaceutical and medical device companies to outsource preclinical services to CROs. This in turn augments the segment.

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 Life Sciences BPO Market: Prominent Regions

North America held major share of the global life sciences BPO market in 2018. Growth of the market in the region can be attributed to increase in the number of clinical trials and rise in demand for biosimilars owing to patent expiry, which fuels the demand for rapid conduction of trials and regulatory approvals. Moreover, well-established health care infrastructure, rise in prevalence of chronic diseases in the region, presence of leading players, and surge in penetration of life sciences BPO across the paradigm of clinical trials from early-phase to late-phase studies propel the market in the region. Europe held the second largest share of the global life sciences BPO market in 2018. The region is considered a lucrative market for pharmaceutical manufacturers to conduct phase 1 clinical trials rather than the emerging countries due to the availability of highly qualified staff, quality of services & infrastructure, fluency in foreign language, and ability to handle multiple-country clinical trials.

Asia Pacific accounted for significant share of the global life sciences BPO market in 2018. The region comprises major countries such as India, China, Australia, and Japan. Japan accounted for the largest share of the life sciences BPO market in Asia Pacific in 2018. Increase in pricing pressure, high prices of raw ingredients, and the need to reduce cost of marketing have induced several pharmaceutical and nutritional manufacturers to outsource some of their business elements to developing countries.

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Life Sciences BPO Market: Key Players

Manufacturers are adopting strategies such as acquisition, collaboration, and distribution to increase share in the global life sciences BPO market. In February 2020, Charles River Laboratories International, Inc. signed an agreement to acquire Citoxlab for US$ 510 Mn. Citoxlab is a non-clinical CRO specialized in regulated safety assessment services, non-regulated discovery services, and medical device testing. In January 2018, Charles River Laboratories International, Inc. completed the acquisition of KWS BioTest Limited for US$ 20.3 Mn. The latter is specialized in in-vitro and in-vivo discovery testing services for immuno-oncology and inflammatory & infectious diseases.

Leading players operating in the global life sciences BPO market are IQVIA, Laboratory Corporation of America Holdings, Syneos Health, Inc., Parexel International Corporation, PRA Health Sciences, Inc., Charles River Laboratories International, Inc., WuXi AppTec Co., Ltd., ICON plc, Medpace Holdings, Inc., and Pharmaceutical Product Development, LLC.

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Homeopathic Product Market Value is Likely to Soar Around ~US$ 18.6 Bn by 2027

6 min read

Homeopathic Product Market: Introduction

According to the report, the global homeopathic product market was valued at US$ 5.6 Bn in 2018 and is projected to expand at a CAGR of ~14% from 2019 to 2027. Homeopathy is one of the health systems widely practiced in almost all continents. Dr. Hahnemann, the founder of the system, introduced an unconventional approach in the preparation of the medicines and a new therapeutic principle for the treatment of the sick.

According to the U.S. FDA recognized Homeopathic Pharmacopoeia of the United States, homeopathy is natural, as its remedies are produced, from natural sources, whether vegetable, mineral, or animal in nature. Growth of the global homeopathic product market can be attributed to increase in prevalence of various diseases and rise in geriatric population across the globe.

Europe dominated the global homeopathic product market in 2018 and the trend is anticipated to continue during the forecast period. Increase in adoption of homeopathy products, availability of all major companies in the region, and increase in prevalence of various diseases are anticipated to drive the market in Europe. Asia Pacific is expected to be a highly lucrative market for homeopathic product, expanding at a higher CAGR during the forecast period.

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Safety and Less Risk of Adverse Side Effects Associated with Homeopathic Product Drive Market

According to the NHS of the U.K., homeopathic remedies are generally safe, and the risk of a serious adverse side effects arising from taking these remedies is thought to be minimal. According to the British Homeopathic Association, homeopathic medicines are safe to use, as they rarely cause side effects. This means when used appropriately under the guidance of a qualified homeopath, they can be taken by people of all ages, including babies, children, and pregnant or breastfeeding women.

According to the Faculty of Homeopathy, homeopathic medicines in high dilutions, prescribed by trained professionals, are probably safe and unlikely to provoke serious adverse reactions. One of the expressed reasons for the popularity of homeopathy among patients at the Royal London Homoeopathic Hospital (RLHH) is that it does not have side effects associated with several conventional drugs. Hence, safety and less risk of adverse side effects associated with homeopathic remedies are the factors responsible for propelling the homeopathic product market.

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Dilution Product to Dominate Market

Based on product type, the global homeopathic product market has been divided into tincture, dilutions, bio-chemics, ointments, tablets, and others. The dilution segment dominated the global homeopathic product market in 2018 and the trend is likely to continue during the forecast period, as in homeopathy, a solution that is more dilute is described as having a higher potency, and more dilute substances are considered by homeopaths to be stronger and deeper-acting.

Immunology to be Key Application Area

In terms of application, the global homeopathic product market has been segmented into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. The immunology segment dominated the global homeopathic product market and is expected to grow at a rapid pace during the forecast period. According to a study titled “Women and Autoimmune Diseases”, published in NCBI Journal, autoimmune diseases are the third most common category of disease in the U.S. after cancer and heart disease; they affect approximately 5% to 8% of the population.

Plants to be Major Source

Based on source, the global homeopathic product market has been segmented into plants, animals, and minerals. The plants segment dominated the global homeopathic product market in terms of revenue in 2018 and the trend is projected to continue during the forecast period of the homeopathic product market. According to a study titled “Usefulness of Angiospermic Plants in Homeopathy System of Medicine” published in 2015, more than 30,000 plant specimen of medicinal importance are grown all over the world, but only around 2,500 plants species are known to be useful for medicine preparation. Over 300 plants are now traditionally used as drug source in homeopathy.

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Europe to Dominate Global Market

Geographically, the global homeopathic product market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global homeopathic product market in 2018, followed by Europe. Europe accounted for major share of the global homeopathic product market in 2018, owing to presence of key players, increase in research & developmental activities, well-equipped and developed healthcare infrastructure, surge in number of disease cases, and rise in geriatric population. The homeopathic product market in Asia Pacific is likely to expand at a higher CAGR from 2019 to 2027. Significant growth of the homeopathic product market in the region can be attributed to high prevalence of various diseases, increase in adoption of homeopathy products, rise in geriatric population, surge in patient population, and increase in interest of key players in the region.

Competition Landscape

The global homeopathic product market is fragmented in terms of number of players. Key players in the global market include BOIRON, Dr. Reckeweg & Co. GmbH, Hyland’s, Hahnemann Laboratories, Inc., Dr. Willmar Schwabe GmbH & Co. KG, Biologische Heilmittel Heel GmbH, Homeocan inc., Ainsworths (London) Limited, PEKANA, and SBL Pvt. Ltd. R&D activities, merger & acquisitions, agreements, and collaborations are the key strategies adopted by these players to operate their business in the global homeopathic product market.

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