The global Wound Healing market was valued at approximately US$ 23.3 Bn in 2016 is projected to register cumulative annual growth rate (CAGR) of over 4.8% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Wound Healing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. The report suggests that increasing patient pool for chronic wounds is likely to spur the demand of wound healing products in the coming years (2017 to 2025). As key players introduce technologically advanced wound healing solutions in developed markets such a North America and Europe, these regions are likely to account for dominating share of the global wound healing market. Established presence & wide distribution networks of major players and growing market penetration of emerging players are likely to boost growth of Asia Pacific wound healing market at a CAGR of around 5.3% from 2017 to 2025.
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High Cost of Advanced Wound Care Products to Restrain Global Market Expansion
According to the Centers of Disease Control (CDC) statistics, an estimated 450,000 – 500,000 patients suffer from burn injuries each year in the U.S. The direct costs of treatment of burn injuries in the U.S., was estimated to be around US$ 10.4 Bn. Wounds impose underappreciated burden on the population across the globe and they account for the majority of injuries related to skin. Rise in the prevalence of diabetes and obesity, and increasing adoption rate for wound care therapy devices in developed and emerging markets are likely to fuel the uptake of wound healing products by 2025. However, high price of newly launched and technologically advanced wound care products restricts their demand. Conventional wound healing products are preferred over technologically advanced costly dressings in the emerging economies, despite their slow healing process. The price sensitive market of developing nations thus restricts the growth of advanced wound management technologies, which in turn has attributed for devaluation of the market, thereby restraining growth of global wound healing market.
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Wound Closure Agents to Lose Market Share
The report offers detailed segmentation of global Wound Healing market based on product, wound type, and gender. Among the product types studied, wound closure agents segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Topical agents segment which comprises hemostatic agents, antimicrobials, wound cleansers, and others are likely to get boost from their ongoing R&D activities, in turn estimating highest number of new product launches in the near future. The wound closure agents segment is anticipated to lose its market share during the forecast period, and is expected to hold a share of 24.0% by 2025 from 28.1% in 2016. Availability of other advanced wound healing products with reduced risk of infection are factors likely to hamper the market share of this segment.
Chronic Wounds to Be the Most Promising Wound Type to Invest In
Among wound types, chronic wounds segment is projected to hold dominant share of global wound healing market during the forecast period and is likely to expand at CAGR of around 5.0% from 2017 to 2025. From chronic wounds, ulcers sub-segment is expected to lead the global wound healing market in terms of CAGR by 2025. As per the Agency for Healthcare Research & Quality (AHRQ), in U.S. US$ 9.0 Bn to US$ 11.0 Bn are spent on pressure ulcers by health care systems annually. Significant patient population, and availability of favorable reimbursement policies which are driving manufacturers’ focus on business expansion in advanced wound care products are projected to fuel this expansion. Significant economic burden of surgical site infections (SSI), and higher treatment costs associated with it is expected to propel the expansion of chronic wound segment during 2017-2025.
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Women are to Capture Relatively Significant Market Share during the Forecast Period
In case of women, especially in low and middle income countries, there is significant gap between reported and actual cases of diabetes and chronic wounds, which is anticipated to improve during forecast period. In terms of gender, women segment held 52.9% of global wound healing market share in terms of revenue. Initiatives such as Wound Awareness Week and other outreach programs are projected to increase the awareness in significant patient population.
Asia Pacific to Register Exponential Growth Rate and Offer Huge Incremental Opportunity
In terms of value, North America was leading contributor in global wound healing market in 2016. As per the data published by ‘Wound Care Awareness Week–2017’, the annual cost (including direct as well as indirect costs) of treatment of all types of wounds incurred to health care systems in the U.S. is US$ 50.0 Bn, while the annual cost of amputations exceeds US$ 8.0 Bn. High prevalence of chronic wound in this region is imposing significant economic burden and is increasing demand for affordable care in the U.S., which in turn is driving the growth of wound healing market in North America. Healthcare spending in emerging markets such as China and India are rising, which is fueling the expansion of Asia Pacific wound healing market. Geographical expansion of international players to this region through distribution and licensing agreements with local distributors in the region are anticipated to propel the growth of Asia Pacific in global wound healing market at CAGR of 5.3% from 2017 to 2025. Regaining economic growth in Latin America countries such as Brazil is augmenting healthcare expenditure through rise in private health insurance, entry of international wound healing products manufacturers & health care providers in this region. It is one of the major factor for the estimated growth of Latin America during 2017-2025.
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Key Players such as Acelity L.P., Inc., Smith & Nephew plc, and Mölnlycke Health Care AB are Likely to Continue to Lead the Global Wound Healing Market
The report also provide profiles of leading players operating in global wound healing market include Smith & Nephew plc, Integra LifeSciences Corporation, B. Braun Melsungen AG, Mölnlycke Health Care AB, 3M Healthcare, Ethicon, Inc. (Johnson & Johnson), Hill-Rom Holdings, Inc., Cardinal Health, Acelity L.P., Inc., ConvaTec Inc., BSN medical (Svenska Cellulosa Aktiebolaget SCA), Coloplast Group, Medline Industries, Inc., Organogenesis Inc., and Hollister Incorporated. Expansion of wound healing portfolio by acquiring the wound healing platform of emerging players is a key strategy adopted by many key players.
The global sterility testing market was valued at approximately US$ 750.0 Mn in 2016 is projected to register cumulative annual growth rate (CAGR) of over 7.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Sterility Testing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. The report suggests that increase in research & development activities is outgrowth the demand of sterility testing in the coming years (2017 to 2025). North America dominating the sterility testing market due to establishment of new biopharmaceutical companies as well as quick adoption of advanced technology. The emerging markets such as China, India and Brazil is likely to boost growth of Asia Pacific and Latin America sterility testing market at a CAGR of more than 7.0% from 2017 to 2025.
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Technological Advancement and Strategic partnerships to Drive Global Sterility Testing Market
Technological improvements in devices and reagents available for sterility testing have aided in easing the process and contributed to market growth. This change in sterility requirements is an exciting development for the rapid microbial testing business. Manufacturers operating in the sterility testing market have entered into various strategic mergers & acquisitions and partnerships that enabled them to enhance market position and expand customer base. For instance, bioMérieux and Shimadzu have worked in partnership to develop their linear MALDI-TOF mass spectrometry technology for improved incorporation into the microbiology laboratory workflow. Similarly, BD Diagnostics and Bruker entered into a partnership to improve Bruker MALDI Biotyper for microbial identification and antimicrobial susceptibility testing.
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Instruments and Biopharmaceutical Manufacturing Segment Market to Grow At High Rate
The kits and reagent segment dominate the sterility testing market in terms of revenue. The advantages of kits and reagents segment includes product affordability, easy product availability, increase in research and development activities and high awareness for kits and reagents are likely to fuel the growth of the segment. The instruments segment is the highly growing segment at a CAGR of more than 8.0%. Factors such as technological advancement, growing demand for automated products, favorable reimbursement scenario and rapid process are key factors driving the instruments segment. According to the European Federation of Pharmaceutical Industries & Associations, in 2016, the pharmaceutical sector in Brazil and China expanded at a growth rate of 10.0% and 6.9% respectively. The same year, the pharmaceutical sector in the European Union and the U.S. expanded at an average growth rate of 4.5% and 6.3% respectively. In terms of application sterility testing is highly preferred in biopharmaceutical manufacturing. Rising demand for high-quality and innovative products and growing prevalence of chronic diseases are key driving factors for the biopharmaceutical manufacturing segment.
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Traditional Sterility Tests Dominates In Term of Market Share
Sterility tests type is classified into traditional sterility tests and rapid sterility tests. In terms of test type traditional sterility tests contributes high market share. High acceptance among sterility testing service providers, high awareness about traditional sterility tests, low startup cost, high preference for membrane filtration tests are the key factors driving the traditional sterility tests segment. Rapid sterility tests is the highly growing segment at a CAGR of more than 8.0%. Increase in health care investment, technological advancements and rise in investment for research & development are expected to fuel the growth of the rapid sterility tests segment.
Asia Pacific to Offer Huge Incremental Opportunity
In terms of value, North America was leading contributor in global sterility testing market in 2016. Technological advancements, rapid adoption for newer technologies, and presence of a large number of providers of pharmaceuticals as well as medical devices are contributing factor for major share of the North America market. However launch of new, innovative products and an expanding skill base in North America implies that more people in the region will have access to advanced technology during the forecast period. Europe is the second largest market. Rise in research & development activities, increase in export of manufactured products to other countries are likely to accelerate Europe sterility testing market. The increase in number of pharmaceutical and biopharmaceutical companies and rising demand for drug products fueling the Asia Pacific sterility testing market. The Middle East & Africa region was valued at approximately US$ 27.1 Mn and likely to propel at a CAGR more than 6.5% from 2017 to 2025. Latin America and Middle East & Africa will create good market opportunity for sterility testing market. The increasing coverage of private health insurance coverage, rapid population growth, rise in prevalence of lifestyle diseases such as diabetes and cardiovascular disorders etc. are the factors fuel the rest of the Rest of the world sterility testing market.
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Key Players such as Merck KGaA, bioMérieux, Inc and Thermo Fisher Scientific Inc., are Likely to Continue to Lead the Global Sterility Testing Market
The report also provide profiles of leading players operating in global sterility testing market include Merck KGaA, bioMérieux, Inc, Sartorius AG, Thermo Fisher Scientific Inc., Charles River Laboratories International, Inc., Solvias AG, Becton, Dickinson and Company, Rapid Micro Biosystems, Inc. Merger & acquisition activities, new product innovation are the the key strategy adopted by many key players. In July 2015, Celsis International, Ltd., a leading provider of rapid testing systems for bacterial contamination acquired by Charles River Laboratories International, Inc.
The global flow cytometry market was valued over US$ 3,072 Mn in 2016 and is projected to register cumulative annual growth rate (CAGR) of over 11.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Global Flow Cytometry Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. The report suggests that rising demand for advanced medicine due increased chronic and acute diseases globally increasing the pharmaceutical researches and drug discovery operations is spurring the growth of flow cytometry in coming years (2017 to 2025).
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The North America and Europe are projected to dominate the global flow cytometry market in the coming years owing to increase in manufacturer focus for business expansion in these regions. Players are continuously developing advanced flow cytometry instruments & products and entering into distribution agreements to fortify their footprints in the North American and European markets. Growing adoption of technologically advanced products manufactured by local manufacturers like Flowcytometry Solutions Pvt. Ltd. is likely to drive the Asia Pacific flow cytometry market. The Asia Pacific flow cytometry market is expected to witness CAGR of over 13% from 2017 to 2025
Flow Cytometry Instruments Dominates the Market Followed by Reagents & Consumables
The report offers detailed segmentation of global flow cytometry market based on technology, product & services, application, and end-user. Among the product & services segment, flow cytometry instrument segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Factors attributed to the higher share of the reagent segment in the global market include increased the use of advance flow cytometry instruments in novel drug discovery, and targeted based drug discovery. Reagents & consumables segment is likely to register comparatively higher growth rate in terms of value in the global flow cytometry market during the forecast period owing to continuous innovations in the product technologies by major market players.
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Pharmaceutical & Drug Discovery and Diagnostics: Top Two Application Areas of Flow Cytometry
Among applications, Pharmaceutical & Drug Discovery segment is projected to hold dominant share of global flow cytometry market during the forecast period and is likely to expand at CAGR more than 10% from 2017 to 2025. Major factors responsible for the dominance of this segment are continuous innovations in flow cytometry instruments and wide product portfolio of major as well as local manufacturers. For instance In October 2017 Sysmex America Inc. introduced CyFlow Antibodies for the application in clinical flow cytometry. Such continuous new product launches, along with exponentially rising patient base in developed as well as developing countries are likely to drive the segment between 2017 and 2025. According to JAMA oncology, in the year 2015 around 17.5 million new cancer cases was estimated globally, around 8.8 million death observed from cancer, which is nearly 1 in 6 deaths. Software and services segment, accounted for more than 28.0% share of global flow cytometry market in 2016, in terms of value.
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Growth of the Asia Pacific Flow Cytometry Market Likely To Be Hinged At China, Japan
In terms of value, North America was leading contributor in global flow cytometry market in 2016. Increased demand of flow cytometry products and increasing prevalence rate of immunological diseases such as HIV/AIDS among the population is the U.S. are some factors contributing for major share of the North America market. However, competition from image analyzer, scanning cytometers, dearth of skilled technician for data interpretation & technical implications are likely to hamper this market. Healthcare spending in emerging markets such as China and India are rising, which is fuelling the expansion of Asia Pacific flow cytometry market. Regaining economic growth in Latin American markets such as Brazil is augmenting healthcare expenditure through rise in private health insurance, entry of international drug manufacturers and health care providers in this region. This factor is likely to propel Latin America flow cytometry market at CAGR of 9% from 2017 to 2025.
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Highly Consolidated Market with Top Three Players Accounting For More Than 50.0% of the Global Market
The report also provide profiles of leading players operating in global flow cytometry market Becton, Dickinson and Company (BD), Merck & Co., Inc., and Beckman Coulter, Inc. (Danaher) are major players operating in the market, offering wide range of products such as Becton, Dickinson and Company (BD) offers almost all the flow cytometry products includes instruments, software, antibodies, etc. Merck & Co., Inc. offers flow cytometry instruments, reagents kits, assay kits etc., while Beckman Coulter, Inc. (Danaher) offers advanced technological product as flow cytometry analyzer which offers infrared lasers and ultraviolet with avalanche photodiode sensors. Flowcytometry Solutions Pvt. Ltd. and Sysmex Partec GmbH are the other major players in the developed and developing countries, respectively. Expansion of flow cytometry product portfolio through partnerships to improve drug and biological product analysis is a growing trend in global flow cytometry market. For instance, on 17th January, 2018 Premas Life Sciences Pvt., Ltd. and IncellDx, Inc., signed agreement for diagnosis of solid tumor carcinoma that can now possible to analyzed for protein and molecular biomarkers by flow cytometry. Other prominent players in the global chemiluminescence immunoassay (CLIA) analyzers market include Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Bio-Techne., Alere, Inc. and Miltenyi Biotec GmbH.
The global glaucoma therapeutics market is immensely consolidated and the top five players accounted for just under 85.0% of the market in 2015. Among Novartis AG, Allergan plc., Pfizer Inc., Merck & Co., and Santen Pharmaceuticals, Novartis is the clear leader with a massive share of over 33.0%.
Transparency Market Research has observed that most companies have a hold over the market owing to their well-established brands and a strong pipeline of drugs for the treatment of glaucoma. However, loss in the market share of leading companies due to patent expiry is likely to offset the competitive landscape in the coming years.
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The global glaucoma therapeutics market is projected to rise from a value of US$5.7 bn in 2015 to US$7.6 bn by 2024 at a modest CAGR of 3.4% therein.
North America Dominates Global Market by Revenue
Based on drug class, the glaucoma therapeutics market is led by the combination segment, which is projected to account for a share of 25.8% by 2024. Expanding at an 8.8% CAGR from 2016 to 2024, the segment is fueled by the cost-effective nature of these drugs as compared to individual drugs. On the basis of end use, hospitals formed the leading segment of the glaucoma therapeutics market in 2015. The maximum opportunity was also presented by this segment. Hospitals provide healthcare services at an affordable cost to citizens across the U.S., Canada, the U.K., and several other countries in Europe. This has ensured the dominance of the hospitals segment.
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Geographically, North America is expected to account for a large share in the glaucoma therapeutics market in terms of revenue owing to the rising usage of highly priced prostaglandins. The region accounted for almost half the market in 2015. Exhibiting a 4.2% CAGR from 2016 to 2024, Asia Pacific presents immense scope for growth. India holds a major share in the APAC market in terms of revenue owing to the rising prevalence of glaucoma in the country and a comparatively lower cost of treatment.
Improving Socio-economic Living Conditions Key in Driving Uptake of Glaucoma Therapeutics
The growing need to offer improved eye care and preserve the vision of the patients among healthcare providers has resulted in the development of enhanced therapeutic options for the treatment of glaucoma. “Although eye drops have, until recent years, been the primary method of treatment, the market has been witnessing an evident shift toward combination drugs,” the author notes. The strong pipeline of combination drugs for the treatment of glaucoma therefore ensures steady growth of this market. Aerie Pharmaceuticals’ pipeline of combination drugs such as Rho Kinase Inhibitor (ROCKi) and norepinephrine transport inhibitor (NETi) is a key example of this development.
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In addition to this, an improvement in the socio-economic conditions of people in developing countries has increased spending capacity, which has not only resulted in a rise in healthcare expenditure but also led a surge in awareness about living a healthy lifestyle. This has, in turn, upped the early detection of glaucoma and spurred the demand for glaucoma therapeutics.
In contrast, the possible side effects of glaucoma drugs and the growth of the generic drugs market are likely to be the key deterrents in the coming years.
The global tissue banking market features an intensely competitive landscape with the marked presence of a copious number of big original equipment manufacturers and the presence of relatively small number of dedicated facilities that offer services related to tissue banking, finds Transparency Market Research (TMR). The top players operating in the market include Backman Coulter Inc., Panasonic Biomedical, Taylor-Wharton, Brooks Automation, and Thermo Fisher Scientific. Leading companies are focusing on strategic mergers and acquisitions and substantially investing in expanding their product pipelines to attractive regional markets. Several players are also developing technologically advanced equipment for tissue banking activities to gain a competitive edge over others.
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As the global tissue banking market requires substantially heavy investments to set facilities and the employment of markedly high technical expertise, the landscape is likely to witness surge in competition, observes TMR. The threat of entry from small vendors is, therefore, low. The market is characterized by the strict tissue transplant acts and regulations, which further dissuades the entry of small players.
The global tissue banking market is estimated to reach a valuation of US$2.1 billion by the end of 2024. The market is projected to expand at a CAGR of 11.3% during 2016–2024.
The various equipment type used for tissue banking activity are freezers, storage system, labelling and coding equipment, alarming and coding equipment, and thawing equipment. Of these, the freezers segment accounted for a substantial share in the market in 2015 and is projected to rise at a prominence pace through the forecast timeline. The growth of this segment in fueled by an extensive demand for increasing demand for tissue banking in organ transplant, blood transfusions, cellular therapies, vaccines, and regenerative medicines. This is attributed to its suitability for long-term storage of tissues over an extended range of -18°C to -86°C.
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Regionally, Asia Pacific is set to be the most attractive market and is anticipated to rise at a phenomenal pace during the forecast period. The regional market is driven by a large patient population and rapid improvements made in the healthcare infrastructure in recent years.
Extensive Demand for Regenerative Medicines among Aging Population to Boost Market
The drive for the tissue banking market stems from the pressing need for adequate amounts of tissues, primarily for clinical use and research. The growing demand is attributed to the need for harvesting and using transplantable human tissues for replacing and repairing lost or damaged tissues lost on account of aging, physical damage, congenital defects, or diseases. The widening prevalence of cardiovascular diseases (CVD) and neurological disorders, various cancer types, and diabetes in several developing and developed countries is stoking the demand for safe tissue processing, storage, and transportation.
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The rapidly aging baby boomer generation in a number of developed nations is expected to bolster the demand for tissue banking activities. A rise in geriatric population in several developed nations is also expected to accentuate the growth of the overall tissue market. The extensive use of bio-banking of normal and tumor cells and stem cells from bone marrow is also accentuating the growth of the market.
The growing popularity of regenerative medicines in hospitals, research and academics institutes, and diagnostic laboratories is a notable factor boosting the tissue market. The rising discretionary spending on healthcare, combined with favorable insurance and reimbursement policies, is a notable aspect accentuating the growth of the market.
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Stringent Set Protocols key Challenge, Research Institutions to Witness Vast Uptake of Transplantable Tissues
The harvesting, processing, and storage of human tissues is riddled with marked complexity and any lapse, even minor, may affect the life of recipients. The copious amounts of funds required for setting a dedicated tissue banking facility is another crucial factor likely to impede the growth of the market to an extent. The need stringent adherence to set protocols for tissue banking activities is a crucial factor likely to cripple the growth of the market.
Be that as it may, recent advances made in regenerative medicines in several developed nations and the rising demand for tissue transplantation for the treatment of chronic diseases and cancer are notable factors expected to accentuate the growth of the market. The market is also expected to benefit from advancements in cryogenic storage technologies. The vastly growing demand for a variety of transplantable tissues in research centers is also expected to provide a robust fillip to the market’s growth.