Monday, 24 February 2020

Blood Screening market to receive overwhelming hike in revenues by 2023

The Global Blood Screening Market is expected to register a growth of significant CAGR 9.8% during the forecast period (2018–2023).
Blood Screening is a medical procedure where the donated blood is tested for the presence or absence of HIV, HBV, HCV, malaria, syphilis, and for various other infectious diseases. The donated blood is screened for these infectious diseases to lessen the risk of transfusion-transmitted infections (TTIs).
Factors such as increasing number of blood donations and blood donors, increasing awareness about the safety of donated blood are some major factors influencing the growth of blood screening market. Moreover, increasing affordability and adoption of nucleic acid test (NAT) for blood screening, and growing prevalence of infectious diseases is also boosting the growth of this market. Nevertheless, principal expenditure and the operational costs of NAT devices, lack of regulations for NAT in developing countries, and the advent of alternative technologies are limiting the growth of market. Additionally, china’s and India’s market are observed as rising economies due to the introduction of pathogen reduction technology, and demand of multiplex tests.
Segmentation:
The Global Blood Screening Market has been segmented on the devices, service providers, application, end users.
On the basis of technology, the market has been classified as nucleic acid amplification test (NAT), enzyme-linked immunosorbent assay (ELISA), rapid tests, next-generation sequencing (NGS), western blotting. The nucleic acid amplification test is segmented in to transcription-mediated amplification (TMA) and real-time polymerase chain reaction (PCR). The enzyme-linked immunosorbent assay is segmented in to ELISA market, by platform and ELISA market, by generationOn the basis of products and services, the market has been classified as reagent and kits, enzymes and polymerases, standards and controls, probes and primers, buffers, nucleotides, and solutions, immunosorbents, instruments and software and services. The reagent and kits have been segmented in to NAT reagents & kits, ELISA reagents & kits. The instruments have been segmented in to rental purchase and outright purchase.
On the basis of end users, the market has been classified as hospitals, clinics, research institutes and academic centers, blood banks and others.On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas has been further segmented into North America and South America, with the North American market divided into the US and Canada.
The European arrhythmia monitoring devices market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.  The Blood Screening Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. TheBlood Screening Marketin the Middle East and Africa has been segmented into the Middle East and Africa.
Regional Market Summary:In the Blood Screening Market, North America is anticipated to account for largest market share due to the early adoption of advanced medical technologies, continuous development by companies operating into drugs. According to America’s Blood organization 1 in 7 people entering the hospitals needs blood. According to American Red Cross, less than 38 percent of the population is eligible to give blood or platelets. According to Centers for Disease Control and Prevention (CDC), there are more than 9.5 Million blood donors in the United States and an estimated 5 million patients who receive blood annually, resulting in a total of 14.6 Million transfusions per year.
The European market is expected to hold the second largest market share. Factors such as a rise in research expenses, advancement of technology, the decline in human health, and the necessity for innovative and effective therapies boost the growth of the market in this region. According to World Health Organization (WHO) the average number of donations across the European Region ranges from 6 to 67.6 per 1000 inhabitants, with Demark reporting the highest blood donation rate.
Whereas the market share in Asia-Pacific region is also anticipated to experience growth in the near future due to access to optimal treatment facilities and growing demand for increasing government initiatives, advanced technology, better adoption rate, and rising healthcare expenditure. Countries in the Asia pacific region, such as China and India, are the hotspots for investment opportunities due to treatment and research activities, growing number of partnerships and healthcare modernization, growing rate of diagnosis, quality improvisations.
The market in the Middle East & Africa is expected to account for the smallest share of the global blood screening market due to an underdeveloped healthcare sector, the dearth of technical knowledge, and poor medical facilities.
Key Players:
Some of the key players in the Global Blood Screening Market Grifols, F. Hoffmann-La Roche, Abbott Laboratories, Biomérieux, Bio-Rad Laboratories, Inc., Siemens Healthineers (A Subsidiary of Siemens AG), Ortho Clinical Diagnostics, Inc., Thermo Fisher Scientific, Inc., Beckman Coulter (A Subsidiary of Danaher Corporation) and Becton, Dickinson and Company.
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Oral Thin Film Drugs market - positive long-term growth outlook 2023

Market Synopsis
Oral thin films (OTF) are an innovative method discovered by pharmaceutical scientists for delivering drugs orally or bucally (absorption or dissolution in the mouth). OTF drugs have gained popularity owing to its rapid dissolution on contact with saliva. The global oral thin film drugs market is predicted to exhibit a 10.50% CAGR from 2018 to 2023 (forecast period), as per the latest report by Market Research Future (MRFR). This can be credited to the expanding geriatric population and their need for advanced drug delivery methods to keep chronic diseases such as diabetes at bay. Continuous investment in research and development (R&D) by companies to create easily dissolvable solutions for other diseases is expected to spur market growth over the forecast period. Introduction of OTF drugs in developing countries can act as a good revenue source for the OTF drugs market.
Report Overview
The report provides an accurate overview of the market complete with statistical graphs to support the forecasted figures. Our analysts make insightful predictions regarding the scope of the market and its future prospects. MRFR’s report includes a thorough analysis of the global oral thin film drugs market segmented on the basis of product, disease indication, distribution channel, and region. Numerous growth strategies undertaken by companies as well as the latest trends driving the market are outlined in the report. The market share of all prominent players and their current position is discussed in minute detail. It analyzes new revenue sources for players and emphasizes on the various strategies implemented by players.
Segment Overview
The global oral thin film drugs market is segmented by product, disease indication, and distribution channel. By product, the market is divided into sublingual and fast dissolving buccal film.  By disease indication, the market is segmented into opioid dependence, migraine, schizophrenia, and nausea and vomiting, and others. Distribution channel discussed in the report include hospital pharmacies, retail pharmacies, online drug stores, and others. The segments covered in the oral thin film drugs market report are analyzed with respect to four main regions namely – Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA), with respective country-level market sizing. The report discusses in detail the various players residing in these regions and their respective strategies to climb up the market ladder.
Competitive Landscape
Prominent players in the oral thin film drugs market include Johnson & Johnson Services, Inc. (U.S.), Pfizer Inc. (U.S.), CURE Pharmaceutical (U.S.), Novartis AG (Switzerland), LTS Lohmann Therapie-Systeme AG (Germany), GlaxoSmithKline Plc (U.K.), and Indivior Plc (U.S.).
The report offers a comprehensive analysis on the profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, expansion techniques, and latest R&D initiatives are discussed in minute detail.
Research Methodology
At MRFR, our research analysts conduct a thorough objective analysis of the market while creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews can lead to accrual of highly relevant data. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner.
In addition, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. The balanced number of buyers and suppliers will result in a negligible demand-supply gap. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.
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Respiratory Care Devices market with global industry analysis by 2019 – 2023

Global Sterilization Equipment Market: By Product (Heat Sterilization, Low-Temperature Sterilization, and Others), by Technology (Gravity, Vacuum, Steam, Forced Convention), and by End-User (Pharmaceutical Companies and Others)–Global Forecast Till 2023
Market Scenario
The Global Respiratory Care Devices market is expected to grow during the forecast period (2018–2023) at a CAGR ~7.0%.
Sterilization is a critical procedure in the healthcare industry and used to control the microbial populations which can affect the product quality. Numerous sterilization techniques are available in the market to control microbial growth. The increasing cases of hospital-acquired infections, an increasing number of surgical procedures, and increasing awareness about food sterilization and disinfection are expected to drive the growth of the market. Moreover, increasing research and development activities and technological advancements in sterilization techniques and increasing cases of chronic wounds are contributing to the growth of the market. According to a survey conducted by the American Professional Wound Care Association (2017), chronic non-healing wounds impact nearly 15% of Medicare beneficiaries (8.2 million) and a conservative estimate of the annual cost is USD 28 billion.
The rising cost of Respiratory Care Devices, stringent government regulations and lack of awareness may hamper the growth of the market during the assessment period.
Segmentation
The global Respiratory Care Devices market has been segmented on the basis of product, technology, and end–user.
On the basis of product, the market has been classified as heat sterilization, low-temperature sterilization, filtration sterilization, ionizing radiation sterilization. The heat sterilization segment has been further divided into dry heat sterilization and moist heat sterilization. The Low-temperature sterilization segment has been further divided into ethylene oxide sterilization, hydrogen peroxide sterilization, and others. The ionizing radiation sterilization segment has been classified as electron beams and gamma rays.
The technology segment has been divided into steam, forced convention, vacuum, gravity, and natural convection.
The market, by end–user, has been segmented into hospitals & clinics, research institutes, pharmaceutical companies, food & beverage industry, medical device companies, and other end–users.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Respiratory Care Devices market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European Respiratory Care Devices market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 
The Respiratory Care Devices market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Respiratory Care Devices market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
The Americas is likely to dominate the global Respiratory Care Devices market owing to the increasingly strict sterility guidelines, increase in the number of surgical procedures due to rising geriatric population, the presence of a well-established healthcare system and adoption of highly advanced technology. According to the article published in 2016 by the National Council on Aging, about 80 percent of older adults have at least one chronic disease and 68 percent have at least two.
The European market is expected to be the second-largest Respiratory Care Devices market. The market growth in this region can be attributed to the increasing government expenditure on healthcare and increasing research activities in the life sciences sector. Moreover, a growing number of road accidents in Europe region are contributing to the growth of the market in this region. According to an article published in 2015 by the World Health Organization (WHO), In Europe per year more than 2 million people suffer from road accidents and injuries related to it.
Asia-Pacific is expected to be the fastest-growing Respiratory Care Devices market during the forecast period owing to the increasing prevalence of chronic diseases, increasing number of hospitals and research institutes in Asia and growth in healthcare and biotech industry. According to the World Health Organization (WHO), the geriatric population in China in the year 2013 was 22.6 million, which is expected to show a massive growth and reach 90.4million by 2050.
The market in the Middle East & Africa is expected to hold the smallest share of the global Respiratory Care Devices market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor research and healthcare facilities.
Key Players
Some of the key players in the global Respiratory Care Devices market are 3M, STERIS plc., Getinge AB, Sotera Health, Advanced Sterilization Products (Division of Ethicon), Belimed, Anderson Products, Boekel Scientific, Celitron Medical, Technologies Kft., Fedegari Autoclavi S.p.A., Cantel Medical., LTE Scientific, Merck & Co., Inc, Midmark Corporation, and MMM Group.
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Sterilization Equipment market global industry by regions, type & applications during 2020-2023

Market Scenario
The Globalsterilization equipment market is expected to grow during the forecast period (2018–2023) at a CAGR ~7.0%.
Sterilization is a critical procedure in the healthcare industry and used to control the microbial populations which can affect the product quality. Numerous sterilization techniques are available in the market to control microbial growth. The increasing cases of hospital-acquired infections, an increasing number of surgical procedures, and increasing awareness about food sterilization and disinfection are expected to drive the growth of the market. Moreover, increasing research and development activities and technological advancements in sterilization techniques and increasing cases of chronic wounds are contributing to the growth of the market. According to a survey conducted by the American Professional Wound Care Association (2017), chronic non-healing wounds impact nearly 15% of Medicare beneficiaries (8.2 million) and a conservative estimate of the annual cost is USD 28 billion.
The rising cost of sterilization equipment, stringent government regulations and lack of awareness may hamper the growth of the market during the assessment period.
Segmentation
The global sterilization equipment market has been segmented on the basis of product, technology, and end–user.
On the basis of product, the market has been classified as heat sterilization, low-temperature sterilization, filtration sterilization, ionizing radiation sterilization. The heat sterilization segment has been further divided into dry heat sterilization and moist heat sterilization. The Low-temperature sterilization segment has been further divided into ethylene oxide sterilization, hydrogen peroxide sterilization, and others. The ionizing radiation sterilization segment has been classified as electron beams and gamma rays.
The technology segment has been divided into steam, forced convention, vacuum, gravity, and natural convection.
The market, by end–user, has been segmented into hospitals & clinics, research institutes, pharmaceutical companies, food & beverage industry, medical device companies, and other end–users.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The sterilization equipment market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European sterilization equipment market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 
The sterilization equipment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The sterilization equipment market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
The Americas is likely to dominate the global sterilization equipment market owing to the increasingly strict sterility guidelines, increase in the number of surgical procedures due to rising geriatric population, the presence of a well-established healthcare system and adoption of highly advanced technology. According to the article published in 2016 by the National Council on Aging, about 80 percent of older adults have at least one chronic disease and 68 percent have at least two.
The European market is expected to be the second-largest sterilization equipment market. The market growth in this region can be attributed to the increasing government expenditure on healthcare and increasing research activities in the life sciences sector. Moreover, a growing number of road accidents in Europe region are contributing to the growth of the market in this region. According to an article published in 2015 by the World Health Organization (WHO), In Europe per year more than 2 million people suffer from road accidents and injuries related to it.
Asia-Pacific is expected to be the fastest-growing sterilization equipment market during the forecast period owing to the increasing prevalence of chronic diseases, increasing number of hospitals and research institutes in Asia and growth in healthcare and biotech industry. According to the World Health Organization (WHO), the geriatric population in China in the year 2013 was 22.6 million, which is expected to show a massive growth and reach 90.4million by 2050.
The market in the Middle East & Africa is expected to hold the smallest share of the global sterilization equipment market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor research and healthcare facilities.
Key Players
Some of the key players in the global sterilization equipment market are 3M, STERIS plc., Getinge AB, Sotera Health, Advanced Sterilization Products (Division of Ethicon), Belimed, Anderson Products, Boekel Scientific, Celitron Medical, Technologies Kft., Fedegari Autoclavi S.p.A., Cantel Medical., LTE Scientific, Merck & Co., Inc, Midmark Corporation, and MMM Group.
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Endometrial Cancer market industry 2020 product specification, growth drivers, applications and forecast to 2023

Market Scenario
The abnormal growth of endometrium cells in the uterus is termed as endometrial cancer which is also known as uterine cancer. Endometrial cancer is diagnosed at an early stage as women experience abnormal vaginal bleeding. It is reported that endometrial cancer is the sixth most common cancer in women all over the world. The endometrial cancer market is expected to witness a tremendous growth owing to the rising prevalence of endometrial cancer. Other key factors such as the growing obesity among women, increase in menopausal hormone therapy, change in sedentary lifestyle, socioeconomic factors, growing consumption of unhealthy diet, increasing occurrence of Polycystic Ovarian Syndrome (PCOS), and increasing prevalence of breast or ovarian tumor are contributing towards the growth of the market.  Diabetes is another risk factor that leads to the development of endometrial cancer. According to the American Cancer Society,  endometrial cancer is four times common in diabetic women than in normal women. Such factors contribute to endometrial cancer among women.
However, factors such as high cost of diagnostic procedures, expensive treatments, and side effects associated with hysterectomy procedures are expected to restrict the market growth during the forecast period.
Research Methodology
Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.
  • Primary Research
Extensive primary research was conducted to gain a deeper insight into the market and the industry performance. In this particular report, we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of the major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.
  • Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and commercial study of the global endometrial cancer market. It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, international organization of chemical manufacturers, some paid databases, and many others.
Segmentation
The global endometrial cancer market is segmented on the basis of diagnosis, treatment, and end-user. The endometrial cancer market, by diagnosis, is categorized into pelvic examination, transvaginal ultrasound, endometrial biopsy, dilation and curettage (D&C), and laparoscopy. On the basis of treatment, the market is segmented into hysterectomy techniques, radiation, hormone therapy, chemotherapy, and palliative care. The hysterectomy techniques category includes open abdominal hysterectomy, total vaginal hysterectomy, total laparoscopic hysterectomy, and robotic hysterectomy. The radiation category includes external radiation and internal radiation (brachytherapy). The hormonal therapy includes progestins, tamoxifen, luteinizing hormone-releasing hormone agonists, and aromatase inhibitors. The chemotherapy segment is categorized into paclitaxel, carboplatin, doxorubicin, and cisplatin. On the basis of end-user, the market is segmented into hospitals and clinics, ambulatory surgical centers, diagnostic centers, gynecology centers, feminist health centers, and others.     
On the basis of region, the global endometrial cancer market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and South America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, the Republic of Korea, and the rest of Asia-Pacific. The Middle Eastern and African region is sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the Middle East and Africa.
Key players
Some of the key players in the global endometrial cancer market are Pfizer Inc., General Electric Company, Koninklijke Philips N.V., LUPIN, PHYTON, Bayer AG, Celgene Corporation, Johnson & Johnson, CooperSurgical Inc., LiNA Medical USA, Conceptus Inc., Hologic Inc., Karl Storz GmbH & Co. Kg, and Boston Scientific Corporation.
Regional Market Summary
The endometrial cancer market is dominated by North America owing to the rising prevalence of breast cancer. The US Breast Cancer Statistics projected 266,120 new cases of invasive breast cancer and 63,960 new cases of non-invasive breast cancer in 2018. Other factors such as increasing healthcare expenditure and increasing obesity within the female population drive the market growth in this region.
It is estimated that Europe stood second in the global endometrial cancer market owing to the increasing prevalence of ovarian cancer in this region. According to the Cancer Research UK in 2015, 7270 new cases of ovarian cancer were registered in the UK. Thus, the increasing prevalence of ovarian cancer in this region influences the growth of this market in this region.
Asia-Pacific was projected to be the fastest growing region for the global endometrial cancer market in 2017. The market is expected to witness growth owing to the rising prevalence of diabetes in women, changing lifestyle, and growing obesity within the female population. According to the American Diabetes Association, diabetes in South Asia is expected to rise by 150% from 2000 to 2035. This provides a favorable background for the market to grow.
The Middle East and Africa holds the least share in the global endometrial cancer market due to the presence of stringent government policies and poor economies. However, the market is expected to witness growth due to the rising healthcare expenditure, growing private sector in the healthcare domain, and insurance coverage in the Middle East.
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Epigenetics market dynamics, comprehensive analysis, business growth, prospects and opportunities 2019-2023

Market Scenario:
Epigenetics is the study of heritable changes in gene function not involving changes in the DNA sequence such as changes in a chromosome, phenotypic affecting gene activity and expression. The sources of heritable changes may be external from environmental factors, or internal factors such as age, disease and others. Examples of Epigenetics are DNA methylation and histone modification, which alters genes expression without altering the DNA sequence.
The drivers of Epigenetics market are growing risk factors and the associated increase in cases of cancer, increase in the R&D activities, developing pharmaceutical, and biotechnology sectors, application expanse of epigenetics and others. The development of high sensitive and selective tests, instrumentation and a concurrent rise in computational power is driving a massive adoption. The advancements such as the development of DNA and RNA modifying enzymes such as acetylases, methyltransferases, reverse transcriptase, ligases, and other protein-modifying enzymes has generated tremendous enthusiasm and concurrent faster market adoption.
The growing government support for biotechnology and growing partnership between academia and industry is another driver of growth. Attractive and critical advantages of technology exemplified by high-throughput molecular analysis of tissues, such as quick, cost-effective, efficient for less labor intensive and requires a lesser number of steps are the operational and economic driving factors of the market. Other technological developments include automation, advances in PCR technology, strategic and cross-functional nature of the molecular diagnostic technology and others.
High growth of biotech and growing number of start-ups are driving the development of proprietary technology. According to national venture capital association, the Biotechnology industry received the second largest amount of venture capital for the year 2016 and ended with a 17% rise in dollars as compared with the previous year.
The prime market constraints include prohibitive costs of molecular diagnostics, ha high cost of manufacturing, consolidated nature of the market has put a premium on the price other f the epigenetics products, nascent stage of technology and high power of firms relative to buyers.
Segments:
The global epigenetics market is segmented based on instruments, consumables, applications, technology, end users, and regions.
Based on instruments, the market comprises of NGS, spectrometer, PCR, software solutions and others.
Based on consumables, the market comprises of kit, enzymes, reagent, and others.
Based on application, the market comprises of oncology, developmental biology, drug discovery, cardiology, immunology, and others.
Based on technology, the market comprises of methylation, histone modification, and others.
Based on end users the market is segmented into academia and research, pharmaceutical and biotechnology industry and others.
Based on the regions, the market is segmented as North America, Europe, Asia Pacific Middle East and Africa and rest of the world.
Regional analysis
North America is the largest market in 2016 with the U.S. in the lead position owing to the faster uptake of technology, the gigantic biotech industry of the U.S., the presence of global and technology players, which is propelling the molecular diagnostics industry.
Europe led by Germany, U.K., and France accounts for the second-largest and second fastest market during the forecasted period. Asia is anticipated to expand at the most rapid rate led by Japan, China, South Korea and India.
The Middle East and Africa market are anticipated to generate a moderate growth on account of the impoverished industry landscape and low demand due to weak economic conditions.
Key Vendors Operating In The Global Epigenetics Market:
Some of the dominant vendors operating in the report are Bio-Rad (US), Illumina (US), QIAGEN (Netherlands), Thermo Fisher (US), Active Motif (US), Diagenode (Belgium), Agilent (US), Merck Millipore (US), Abcam (UK), New England Biolabs (US), PerkinElmer (US), Zymo Research (US), and others.
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Latest trends in the Optical Coherence Tomography market by 2020

Market Scenario
The global optical coherence tomography market is expected to grow at a CAGR of 8.9% during the forecast period 2017-2023.
Optical coherence tomography (OCT) is non-invasive imaging technology. The device generates a false-color representation of the tissue structure, on the micron scale in situ and in real time.  The OCT is analogous to ultrasound imaging, except that it uses light instead of sound. Early OCT systems were based on time-domain (TD) optical technology, but in recent years, Spectral-domain OCT (SD-OCT) succeeded TD-OCT and addressed some of its limitations. The SD-OCT is 50-1000 times faster than the TD technique. The swept-source OCT (SS-OCT) has also attracted a great deal of attention in OCT market, as SS-OCT provides >200,000 A-scans/second with ~5-7 µm axial resolution.
It is noted that rising prevalence of eye diseases and technological advancements are the key factors driving the optical coherence tomography market. The increasing prevalence of eye diseases has a significant impact on the optical coherence tomography market as it further pushes the demand for new, and advanced products of higher accuracy.
Increasing application of optical coherence tomography, rising approval from regulatory bodies, and favorable reimbursements are also fueling the market growth. OCT has been evolved as one of the most important imaging technique in various medical applications. OCT is an optical analog of intravascular ultrasound in cardiology, used to examine the coronary arteries. There are various products in the market for cardiovascular applications such as Dragonfly imaging catheter and C7-XR OCT system by Abbott, Lunawave - Coronary imaging console by Terumo, and others. But despite various applications, Ophthalmology is still the dominating field of biomedical OCT due to the precision of OCT that fits well the near-optical quality of many ophthalmological structures.
However, the high cost of equipment may strongly hinder the growth of the market.
Intended Audience
  • Medical Devices Companies
  • Hospitals & Clinics
  • Diagnostic Centers
  • Research and Development (R&D) Companies
  • Government Research Institute
  • Academic Institutes and Universities
Optical Coherence Tomography Market Segmentation Analysis
The global optical coherence tomography market is segmented on the basis of technology, application, and type of devices.
On the basis of the technology, the market is classified into spectral-domain OCT (SD-OCT), swept-source OCT, and others.
On the basis of the application, the market is segmented into cardiology, ophthalmology, dermatology, oncology, others.
On the basis of the type of devices, the market is segmented into handheld OCT devices, tabletop OCT devices, catheter-based OCT devices, and others.
Key Players
Some of key the players in the optical coherence tomography market are Carl Zeiss AG, Alcon, Abbott Laboratories, Terumo Corporation, KONINKLIJKE PHILIPS N.V, B. Braun Melsungen AG, Boston Scientific Corporation, Topcon Corporation, NIDEK Co., Ltd, Novacam Technologies Inc, OPTOPOL Technology S.A, Heidelberg Engineering GmbH, Optovue, Michelson Diagnostics, Thorlabs Inc., Agfa Healthcare, Imalux Corporation, and others.
Key Findings
  • The global optical coherence tomography market is expected to reach USD 1483.49 million by 2023 at a CAGR of 8.9%.
  • On the basis of the technology, Spectral-domain OCT (SD-OCT) is expected to command the largest market share of 60.1% over the review period, and Swept-source OCT is expected to grow at the fastest CAGR of 9.1% during the forecast period 2017-2023
  • On the basis of the Application, ophthalmology segment is expected to command the largest market share of 53.6% over the review period, and Dermatology is expected to grow at the fastest CAGR of 9.3% during the forecast period 2017-2023
  • The Americas hold the largest share of the global optical coherence tomography market and is expected to reach USD 558.34 million by 2023
  • Asia Pacific is the fastest growing market, which is expected to grow at a CAGR of 9.4% over the 2017-2023
Optical Coherence Tomography Market Regional Analysis
The Americas dominate the optical coherence tomography market owing to the increasing prevalence of prevalence of diabetic retinopathy, and other eye diseases, and the presence of the leading players in the region. According to the 2017 data suggested by Genentech, Inc., around 200,000 new cases of wet AMD are diagnosed in the United States each year. It is also reported that Diabetic retinopathy also impacts around 7.7 million Americans, and the number is expected to escalate to 11.3 million by 2030. Due to increasing acceptance of OCT systems multitude of products have been introduced by leading players, such as ARGOS by Santec, SPECTRALIS by Heidelberg, and others.  In November 2016, Carl Zeiss received FDA approval for PLEX Elite 9000, and commercially available in the United States.
Europe holds the second position in the optical coherence tomography market. The financial support provided by the government and private bodies for research & development is propelling the growth of the optical coherence tomography market in the European region. The prevalence of diabetic retinopathy and other eye diseases is also found to be very prevalent in the European region. As per the 2017 statistics suggested by European Society of Retina Specialists (EURETINA), it is found that age-related macular degeneration (AMD) currently affects nearly 34 million people in the European Union, and around 22 million people in the five most populous countries of Europe alone, i.e., Germany, the United Kingdom (UK), France, Italy and Spain.
Asia Pacific region is projected to be the fastest growing region during the forecast period. Rapid advancement in technology and rising participation of market players drive the growth of this market in Asia Pacific region. For instance, the first swept-source OCT was launched by Topcon in 2012, i.e., the DRI OCT Atlantis with 100,000 A-scans/s at the 1050-nm central wavelength. The system is approved in Europe (CE mark), but not approved for use in the U.S.
The Middle East and Africa hold the least share of the optical coherence tomography market owing to the presence of poor and slow developing countries, especially, in the African region.
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