In a fragmented and competitive global medical electrodes market, the entry of new players in regional markets will further intensify the degree of competition, states a new report by Transparency Market Research (TMR). Investments for the development of novel medical electronics and advancement of existing products is a key growth strategy among players in this market.
Abbott Laboratories, Oscor Inc., Biotronik SE & Co. KG, OSYPKA AG, Pacetronix Limited, Medtronic Plc., Boston Scientific Corporation, Lepu Medical Technology, and Zoll Medical Corporation are some prominent names in the global medical electrodes market.
According to TMR, the demand in the global medical electrodes market will rise at a healthy 6% CAGR during the forecast period between 2017 and 2022. At this pace, the revenue in the market is projected to reach US$857 mn by 2022 end from an estimated revenue of US$641.3 mn in 2017.
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The key application segments of the global medical electrodes market include cardiology, neurophysiology, sleep disorders, and intraoperative monitoring. Geography-wise, North America is a key market for medical electrodes owing to presence of a modern healthcare infrastructure; going forward, the region is likely to rise at a healthy 6.3% CAGR between 2017 and 2022.
Rising Prevalence of Cardiac, Neurophysiology Diseases Fuels Growth
The increasing incidence of lifestyle diseases in several parts of the world is a key growth driver of the medical electrodes market. The prevalence of cardiac diseases has particularly been on the rise in developed economies of North America and Western Europe, which is leading to the uptake of medical electrodes for diagnosis purpose. Medical electrodes are increasingly being used for the diagnosis of several diseases such as cardiac diseases and neurophysical disorders, as well as for the treatment of neurological diseases such as Alzheimer’s and Parkinson’s. Medical electrodes function by transferring current energy into electrical energy, which can be used to identify biomarkers left by a number of medical conditions. This is because the accuracy obtained by medical electrodes has made them an integral component of healthcare facilities.
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The increasing adoption of electronics devices to render healthcare and modernization of healthcare facilities in several parts of the world are some other key growth drivers of the global medical electrodes market. Government initiatives as well efforts undertaken by private organizations have led to solid growth of the healthcare sector in several economies of Europe and North America. Further, substantial efforts in a number of countries to include strong diagnostic services within the healthcare sector are likely to augment growth of this market.
Advantages of Improved Diagnosis using Nanotechnology-based Products Benefits Market
Apart from this, the increasing use of nanotechnology in the medical devices arena could further boost the growth of medical electrodes market. Medical electrodes function via a metal detector a conducting gel/paste, which is applied on the patient’s body. With the use of nanotechnology, the efficacy of this process can be improved significantly and thus make medical electrodes even more relevant for diagnosis purposes. Further research in nanotechnology with the objective to augment nanotechnology-based products in medical devices is likely to boost growth of the medical electrodes market in the upcoming years.
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Last but not the least, rising support of governments in emerging economies to improve healthcare facilities could act as a crucial factor to the growth of global medical electrodes market in the future.
The global cardiac surgery instruments market is driven primarily by the growing prevalence of cardiac disorders across the world. The cardiac surgery instruments market has also benefited from the cross-channel demand to improve medical devices in terms of efficacy as well as patient safety, enabling steady growth of the sector. The cardiac surgery instruments market is likely to exhibit steady growth in the coming years due to the importance of the sector to the growing cardiac healthcare and medical devices sector. Strong government support to the healthcare sector and medical devices industry is likely to remain vital for the global cardiac surgery instruments market in the coming years.
The global cardiac surgery instruments market was valued at US$1,061.4 mn in 2017 and is expected to rise to US$1,412.7 mn by 2022 at a robust 5.9% CAGR.
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Here are the key insights into the growth patterns of the global cardiac surgery instruments market:
The growing prevalence of cardiac disorders in developed as well as developing countries is the prime driver for the global cardiac surgery instruments market. Cardiac disorders have risen in prevalence in recent decades due to the growing adoption of sedentary lifestyles, which is likely to remain a constant factor in the coming years. The growing adoption of the Western lifestyle and dietary pattern in emerging Southeast Asian and Latin American countries could also aid the growing prevalence of cardiac disorders in these regions, leading to growing demand from the cardiac surgery instruments market. Cardiovascular diseases account for a significant share in the total number of deaths in several countries such as Australia, New Zealand, Singapore, Thailand, the Philippines, China, South Korea, and Indonesia, where 20%-30% of total deaths are caused by cardiovascular diseases. This is likely to remain a strong driver for the cardiac surgery instruments market in the region in the coming years.
The Asia Pacific except Japan market for cardiac surgery instruments is expected to exhibit a robust 6.2% CAGR over the forecast period to rise to a valuation of US$237.2 mn by 2022, while Japan is expected to gain 2 BPS in its global market share over the 2017-2022 forecast period and could account for more than 8% of the global cardiac surgery instruments market by 2022.
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Nevertheless, North America and Europe are likely to dominate the global cardiac surgery instruments market over the coming years due to the widespread adoption of advanced cardiac surgery protocol and strong government support for product advancement. The cardiac surgery instruments market has strong growth prospects in the coming years in developed Western economies due to the rapid growth of the healthcare industry and significant investment in the healthcare sector from private entities as well as government bodies. The North America market for cardiac surgery instruments is likely to rise from US$372.6 mn to US$503.1 mn over the 2017-2022 forecast period, exhibiting a strong 6.2% CAGR therein. Meanwhile, the Europe cardiac surgery instruments market is likely to exhibit a steady 5.5% CAGR over the 2017-2022 forecast period to rise to a valuation of US$429.9 mn.
The Middle East could also emerge as a prominent contributor to the global cardiac surgery instruments market over the coming years, with the MEA market for cardiac surgery instruments set to exhibit a steady 5.4% CAGR over the 2017-2022 forecast period. The MEA cardiac surgery instruments market is likely to rise to US$53.4 mn by 2022.
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Leading cardiac surgery instruments market players assessed in the report include Cardivon Surgical Inc., Medline Industries Inc., Delacroix-Chevalier, Cardinal Health Inc., Becton, Dickinson, and Company, CONMED Corporation, Teleflex Incorporated, C.R. Bard Inc., and B. Braun Melsungen AG. The competition in the global cardiac surgery instruments market is likely to intensify in the coming years thanks to the growing commercial prospects of the market. Product innovation is likely to remain a successful strategy for players in the cardiac surgery instruments market in the coming years due to the need to stay afloat in the competitive and fragmented market.
Currently, savvy companies operating in the global migraine drugs market are expending time and money into research and development of new and more effective drugs. This is because they have sensed an opportunity in the considerable unmet needs of patients in the absence of a complete cure and also because of the growing genericization of drugs. More players are expected to foray into the market to tap into the opportunities.
Some of the prominent participants in the global migraine drugs market are AstraZeneca Plc., Allergan Plc., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Eli Lilly & Co. Novartis AG, Merck & Co., Inc., Valeant Pharmaceutical International, Inc., Janssen Pharmaceutical Company (Johnson & Johnson), Endo Pharmaceuticals Inc., Zosano Pharma Corporation, Alder BioPharmaceuticals Inc., Avanir Pharmaceuticals, Inc., and Eisai Co., Ltd.
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A research study by Transparency Market Research states that the global migraine drugs market was worth US$2.72 bn in 2016. The report forecasts the market to attain a value of US$3.72 bn by 2025 by registering a tepid CAGR of 3.5% from 2017 and 2025.
The global market for migraine drugs can be divided based on the types of treatments into abortive treatment and prophylactic treatment. The abortive treatment can be divided further into triptans, ergot alkoids, etc. The prophylactic treatment segment too can be segmented again into botulinum toxin, topiramate, etc. At present, the segment of abortive treatment, powered mainly by triptans, leads the market with a higher share.
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Geography-wise, the main segments of the global migraine drugs market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among them, North America, at present holds a dominant share in the market because of the higher allocations on healthcare, growing instances of migraine, and availability of specialty migraine drugs. In the years ahead too, North America is predicted to hold on to its leading share. By 2025, it is expected to rake in a revenue of US$2.13 bn.
Rising Female Population Proves Beneficial to Market
Migraine is a common disease that afflicts almost 14.7% of the world population. As per the World Health Organization, its prevalence is estimated to be 12% among general population. It is found that females are 2 to 3 times more susceptible to the chronic condition. With the rise of the female population and the increase in overall population, particularly in developing nations, the global migraine drugs market will be boosted majorly in the next couple of years.
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Serving to hinder the market, on the other hand, is the easy availability of generics and over reliance on over the counter (OTC) pain killers and other drugs in emerging and under developed markets. The lead analyst of the TMR report observes, “Companies that manufacture and sell migraine drugs that exhibit a high safety and efficacy profile are expected to gain a competitive edge over their peers.”
The global blood collection market is anticipated to expect promising growth opportunities arising from the surge in the number of surgical procedures performed globally, including cancer and organ transplant surgeries. Most of these surgeries require blood transfusion, which could up the demand for target products of the market such as blood bags, tubes, syringes, and needles. End users such as hospitals and diagnostic centers could significantly add to the growth of the market with rising healthcare awareness to prevent and control infectious diseases. More number of government and non-government organizations are participating in such causes with their initiatives.
The global blood collection market, as per Transparency Market Research (TMR), is foretold to rise at a 4.7% CAGR to reach a valuation of US$9.8 bn by the end of 2022. In 2017, the market attained a valuation of US$7.7 bn.
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Global Blood Collection Market: Major Insights
The international blood collection market is projected to gain a strong impetus on the back of the elevating number of trauma incidences and accidents and rising prevalence of non-communicable and infectious diseases. In the U.S., there are millions of adults still diagnosed with cancer and heart disease. Consequently, the diagnostics application could gain pace in its growth with the increasing demand for blood collection products. Product advancement is foreseen to bring in ample of opportunities for players dealing with blood collection tubes. In 2016, Vacutainer Barricor by BD received clearance from the U.S. Food and Drug Administration (FDA).
The international blood collection market is prognosticated to be classified according to product, end user, and application. By product, the market could be divided into vials, blood bags, blood lancets, blood collection tubes, blood collection needles and syringes, and others. Out of these segments, blood collection needles and syringes are anticipated to garner a lion’s share in the market by the end of the forecast timeframe. By 2022, this segment could collect a revenue of US$2.8 bn. In view of end user, the market could be segmented into blood banks, hospitals and diagnostic centers, and other end users. By application, diagnostics and treatment are expected to be critical segments of the market.
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Regionally, the international blood collection market is envisaged to testify the lead secured by North America in the coming years. This region could rise at a 4.9% CAGR. However, the Middle East and Africa (MEA) and Japan are prophesied to showcase a sluggish growth in the market. The MEA could be valued at a US$0.4 bn by the end of 2022 while Japan is envisioned to expand at a CAGR of 4.3%. Nevertheless, there could be business opportunities available in Europe expected to expand at a 4.5% CAGR. Asia Pacific except Japan (APEJ) could be a faster growing region of the market.
Global Blood Collection Market: Vendor Landscape
The report offers an analysis of the worldwide blood collection market’s competitive landscape while profiling several key players including Abbott Laboratories, Inc., Medtronic Plc., Becton, Dickinson and Company, Terumo Corporation, Nipro Corporation, QIAGEN N.V., F.L. Medical SRL, Greiner Holding AG, Haemonetics Corporation, and Sarstedt AG & Co.
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The vendor landscape of the global pacemaker devices market is moderately fragmented, thanks to the presence of several established medical companies, observes Transparency Market Research (TMR) in a recent report. In the next few years, the market is likely to become more crowded and competitive owing to the rising number of specialist players in the market globally. To remain competitive in such intense dynamics, companies have begun focusing more on innovations and expansion of business across promising emerging markets.
Some of the leading players operating in the global pacemaker devices market are Boston Scientific Corporation, Biotronik SE & Co. KG, Medtronic Plc., OSYPKA AG, Lepu Medical Technology, Pacetronix Limited, Oscor Inc., Zoll Medical Corporation, and Abbott Laboratories.
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TMR analysts estimate that the global pacemaker devices market will exhibit a promising 8.1% CAGR over the period between 2017 and 2022, rising from a valuation of US$5.5 bn in 2017 to US$8.1 bn by 2022.
Implantable Pacemakers Continue to Remain Most Preferred Product Variety
Of the two key varieties of pacemaker devices in the market, namely external and implantable pacemakers, the segment of implantable pacemakers held a clear authority in the market, holding a more than 65% of the market in 2017. The segment is also likely to hold its ground over the report’s forecast period. The steady rise in the number of innovative devices in this sector, improved convenience of advanced implantable pacemakers over external devices in terms of comfort and accuracy will continue to help implantable pacemaker devices remain the most preferred product type over the report’s forecast period as well.
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Geographically, the market for pacemaker devices in North America presently dominates in terms of revenue contribution to the global market. The regional market, holding a major share in the global market’s overall revenue in 2016, is expected to expand at a robust CAGR of 8.7% over the period between 2017 and 2022. The well-established healthcare research sector in the region and the early adoption of innovative technologies in the field of healthcare and medicine could help the region retain its dominance in the global pacemaker devices market over the report’s forecast period as well.
Increased Funds from Public and Private Bodies Help Push Research Activities Ahead
One of the key factors likely to help the global pacemaker devices market gather steady pace in the near future is the rising support – in the form of conducive regulations, increased funds and investments directed towards R&D activities – in the field of advanced medical devices across the globe. Along with private investments, the market for pacemaker devices is also witnessing a significant rise in investment from governments and public bodies. An uptick in research and development activities is favoring the overall growth prospects of the market as well.
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The market is also benefitting from the increased incorporation of advanced connectivity features in modern-day pacemakers. Increased advent of technologically advanced products is expected to remain one of the key drivers for the market in the next few years as several new and specialized medical device companies are entering the market. Easy availability of advanced technology across high growth potential regions that have vast untapped growth opportunities could also benefit the market massively.