Thursday, 5 March 2020

Tendinitis Treatment Market to Observe Strong Development by 2019

Market Scenario:
An expert on premium research reports, Market Research Future predicts that Global tendinitis treatment market is expected to grow at the CAGR of ~3.8% during the forecast period and is estimated to reach USD 426.4 million by 2023. According to a recent study report published by the Market Research Future, the global tendinitis treatment market is expected to gain eminence over the forecast period. The market is forecasted to demonstrate a steady growth by 2023, surpassing USD 426.4 million with a constant CAGR during the anticipated period (2017 – 2023).
Tendinitis is the inflammation of the tendon, thick cords that attach the muscles to the bone. The inflammation occurs as a result of sudden injury to the tendon, repetitive movement or disease condition such as diabetes, rheumatoid arthritis, gout, Reiter's syndrome or lupus. In case of patients with gout, the uric acid crystals appear in the tendon sheath leading to friction. Tendinitis is found to be prevalent among athletes and is one of the common sport injuries in sport players, especially tennis, golf and others. Various pharmacological and non-pharmacological treatments are available for the treatment of tendinitis. Non-steroidal anti-inflammatory drugs (NSAIDs) constitute the preliminary treatment options. Other treatments including physical therapy, rest, and occupational therapy. Surgery is the last resort for tendinitis, and is only recommended in case of severe damage to the tendon that cannot be treated using pharmacological treatment options.
Key players for Global Tendinitis Treatment Market:                                   
  • Almatica Pharma, Inc. (US),
  • AstraZeneca (US),
  • Bayer (Germany),
  • Boehringer Ingelheim Pharmaceuticals, Inc. (US),
  • Merck & Co., Inc (US),
  • Pfizer (US).
Segments:
Global tendinitis treatment market has been segmented on the basis of condition which comprises of tennis elbow, golfer's elbow, pitcher's shoulder, swimmer's shoulder, jumper's knee, and others.
On the basis of treatments, the market has been segmented into medications, therapy, surgical repair, and others. Medication sub-segmented into pain relievers, corticosteroids, Platelet-Rich Plasma (PRP), and others. Therapy is further sub-segmented into hot and cold therapy, physical therapy, occupational therapy, and others.
On the basis of diagnosis, the market is segmented into physical exam, imaging tests, and others. Imaging test is sub-segmented into ultrasound, Magnetic Resonance Imaging (MRI) scans, and others.
On the basis of end user, it is segmented into hospitals & clinics, medical research centers, academic institutes, and others.
Regional analysis
Considering the global scenario of the market, America is the top contributor in this market. The Americas mainly includes North America and South America. Due to developed healthcare infrastructure and increasing R&D funding, US is dominating country in this region. Europe is second largest market for tendinitis treatment. Due to innovative product development and rapid adoption of new treatments, Germany is dominating this market. Asia Pacific is witnessing rapid growth in this market which is mainly due to rapidly changing healthcare sector, increasing awareness, and rising healthcare expenditure. Middle East and Africa is expected to have limited growth while Middle Eastern countries are expected to dominate this market during the forecast period.
Competitive Analysis
The market for tendinitis treatment is characterised by the presence of several well-established and small players, the global market of tendinitis treatment appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The tendinitis treatment market appears to be highly competitive owing to the presence of several large and small key players accounting for a substantial market share. Many leading players are concentrated in the Americas owing to well-established market and high healthcare expenditures; these players have expanded their market in other region as well. Furthermore, the companies such as Abbott, AstraZeneca, Teva, and Pfizer are well-established in European market. The major four players namely Abbott, AstraZeneca, Teva, and Pfizer accounted for more than 17% share of the Americas and Europe tendinitis market.
In April 2017, Pfizer entered into a merger with Allergan to gain access for Allergan's portfolio including Botox, Viagra, the Prevnar pneumonia vaccine, and treatments for ailments including Alzheimer’s and rheumatoid arthritis.
Furthermore, in July 2017, Merck & Co.Inc & AstraZeneca entered into strategic oncology collaboration to co-develop and co-commercialize AstraZeneca’s LYNPARZA (olaparib) for multiple cancer types.   
Furthermore, in November 2016, AstraZeneca announced a licensing agreement between MedImmune, its global biologics research and development arm, and Allergan plc., for the global rights to MEDI2070.
Moreover, May 2014, the company acquired Merck & Co., Inc.’s non-prescription business to become the OTC leader in North America and Latin America & achieve top global positions in key OTC product categories.
Therefore, the growing key business strategies will help the key competitors to expand their presence in various parts of the globe for their competitive products and will has spurred the growth of the market.  
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Keratoconus Treatment Market Volume Forecast and Value Chain Analysis 2019

Market Scenario:
The Global Keratoconus Treatment Market has been evaluated as a rapidly growing market and it is expected to continue growing in the near future.
Approximately 3 million people are affected by this disease across the globe. Advanced diagnostic and treatment options are key drivers for this market. Increasing awareness of the disease, increasing funding for R&D and growing demand from emerging regions such as Asia are major driving forces of the market. Major players of this market are investing in R&D to develop effective solution for keratoconus. Introduction of wide range of lenses is important factor for market growth.
The keratoconus treatment market was around USD 322.7 million in 2016 and is expected to reach USD 427.5 million by 2023 which is a projected CAGR of 4.1%.
Keratoconus KC is a condition of the eye which results in liberal thinning of the cornea. This may result in blurry vision, double vision, near sightedness, astigmatism, and light sensitivity. Usually both eyes are affected. In more severe cases a scarring or a circle may be seen within the cornea. While the cause is unknown, it is thought to occur due to a combination of genetic, environmental, and hormonal factors.
Further about seven percent of those affected have a family history of the condition, proposed environmental factors comprise of rubbing eyes and allergies. The fundamental mechanism involves changes of the cornea to a cone shape. Diagnosis is by examination with a slit lamp.
Moreover initially the condition can typically be corrected with glasses or soft contact lenses. As the disease worsens special contact lenses may be required. In most people the disease stabilizes after a few years without severe vision problems. In a small number of Keratoconus KC is a condition of the eye which results in liberal thinning of the cornea. This may result in blurry vision, double vision, near sightedness, astigmatism, and light sensitivity. Usually both eyes are affected. In more severe cases a scarring or a circle may be seen within the cornea. While the cause is unknown, it is thought to occur due to a combination of genetic, environmental, and hormonal factors.
Key Players for Global Keratoconus Treatment Market:                               
Some of the key players in this market are: Bausch & Lomb Incorporated (US), CIBA VISION (US), CooperVision (US), HOYA Vision Care (Singapore), Johnson & Johnson Vision Care, Inc. (US), Menicon Co., Ltd. (Japan), Novartis AG (Switzerland), Optik Seis (Indonesia), and SAFILENS S.R.L. (Italy), and others.
Segmentations:                                                                                                                                        
Global keratoconus treatment market has been segmented on the basis of type which comprises of forme fruste keratoconus, corneal hydrops, keratoglobus, pellucid marginal degeneration, posterior keratoconus, and others.
On the basis of end user, it is segmented into eye hospitals & clinics, medical research centers, academic institutes, and others.
On the basis of diagnosis, the market is segmented into computerized corneal mapping, keratometry, slit-lamp examination, refraction test, and others. Slit-lamp examination includes tonometry, vision testing, and others.
On the basis of treatments, the market has been segmented into lenses, surgery, collagen cross-linking, and others. Lenses is sub-segmented into eyeglasses or soft contact lenses, hard contact lenses, piggyback lenses, hybrid lenses, scleral lenses, and others. Surgery is sub-segmented into corneal inserts, cornea transplant, and others. Collagen cross-linking is still in research process and more study is required to implement this treatment option.
Regional Analysis
Considering the global scenario of the market, America is the highest revenue generator with North American region contributing the most. North America mainly includes US and Canada. US is one of the dominant markets not only in America but also in the global market. European market is the second largest and UK is believed to be the fastest growing market for keratoconus treatment in this region. Increasing awareness, growing purchasing power, and rapidly improving healthcare sector are driving the growth for Asia Pacific keratoconus market. Asia Pacific is one of the high potential market for keratoconus treatment. Due to slow adoption of new treatments and prosucts, Middle East and Africa is expected to grow at steady pace.
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Top trends in Hirsutism Treatment Market by 2019

Market Scenario:
Hirsutism is a condition where a woman faces unwanted and excessive male-pattern hair growth on her body. The unwanted hair growth is mainly found in areas such as back, face, stomach, and chest and is majorly caused due to hyperandrogenism which may be ovarian or adrenal. Some of the common symptoms include balding, deepening of voice, decreased breast size, acne, enlargement of the clitoris, and others.
The global hirsutism treatment market is presumed to expand at 13.6 % CAGR during the forecast period owing to the rising expenditure on personal care.
Competitive Dashboard
The major players operating the global market are Bayer AG (Germany), Bristol-Myers Squibb Company (US), AbbVie Inc. (US), Allergan (Republic of Ireland), Sun Pharmaceutical Industries Ltd. (India), Jubilant Cadista (US), Pfizer Inc. (US), and others.
Drivers and Constraints Impacting the Market
Women are nowadays getting more conscious regarding their looks which is further influencing them to opt for hirsutism treatment. Laser therapy is one the most demanding treatments among the women driving the market. With the increasing availability of treatment and products along with the increasing awareness regarding hirsutism is propelling the market growth during the assessment period. Also, growing demand from emerging economies such as South America and Asia are likely to foster the market. Moreover, hospitals are investing in technology upgradation in order to provide effective treatment to their patients which is further expanding the market growth during the review period.
On the flip side, low per capita healthcare expenditure among the low and middle-income countries and lack of awareness regarding hirsutism are some of the major factors likely to retard the market growth in the coming years. Moreover, the cost of medical laser systems is high which makes it hard to afford for every individual, thereby hampering the market growth.
Global Hirsutism Market: Segmental Analysis
The global hirsutism market has been segmented on the basis of type, diagnosis, treatment, end-user, and region.
By mode of type, the global hirsutism market has been segmented into secondary hirsutism, idiopathic hirsutism, and others.
By mode of diagnosis, the global hirsutism market has been segmented into physical examination, blood tests, imaging tests, and others. Among these, the segment for blood-test is further sub-segmented into DHEA-sulfate test, testosterone level test, and others. The physical examination segment is sub-segmented into palpation and percussion, inspection, auscultation, and others. The imaging test is sub-segmented into CT scan, ultrasound, and others.
By mode of treatment, the global hirsutism market has been segmented into procedures, medications, and others. Among these, the medications segment is sub-segmented into anti-androgens, topical cream, oral contraceptives, and others. Procedures comprise laser therapy, electrolysis, and others.
By mode of end-users, the global hirsutism market has been segmented into hospitals and clinics, academic institutes, medical research centers, and others.
Regional Insights
Geographically, the hirsutism market span across four main regions namely, Europe, America, Asia Pacific, and the Middle East and Africa.
Among all the regions, America is estimated to hold the largest market share owing to the increasing demand for treatment and technological advancements in this region. North America is considered to be the dominant region in America. The U.S. generates the highest revenue in this region.
Asia Pacific is considered to be the fastest growing region owing to increasing expenditure on healthcare, growing awareness regarding hirsutism, and availability of affordable healthcare facilities in this region.
Europe is considered to be the second largest market owing to the presence of countries such as France, Germany, and the U.K. On the other hand, the Middle East and Africa showcases the least market share and is anticipated to expand at a slower rate than the average growth rate.
Industry News
A change in the law in Western Australia has drastically reduced the price of laser hair removal. SILK Laser Clinics, which once sold a 67 % stake to the Advent Partners in a deal valuing it between $50 million and $100 million, has opened its first two clinics in WA.
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Intracranial Hemorrhage Diagnosis and Treatment Market to Observe Significant Growth by 2019

Market Scenario:
The Global Intracranial Haemorrhage Treatment Market is chiefly driven by factors such as rising cases of trauma, accidents, age related brain disorders, cancer etc.  The critical market constraints is the invasive nature of most intra-cranial pressure monitors.
Bleeding or haemorrhages loss of blood from the circulatory system which may be internal or external due to variety of conditions such as trauma, tissue damage due to surgery, accidents, cuts etc. Generally loss of 10–15% of the total blood volume does not cause serious mental problems and can be tolerated by the body. Intracranial haemorrhaging is bleeding in the brain due to trauma or medical conditions such as cancer, tumour etc.
Considering all these factors the intracranial hemorrhage diagnosis and treatment market is expected to reach $ 1.9 billion by the end of 2023, this market is projected to growing at a CAGR of ~ 6.1 % during 2017-2023.
Key players:
Key players profiled in the report are Medtronic Plc., Codman & Shurtleff, Inc., Raumedic AG, Vittamed, Sophysa Ltd., Orsan Medical Technologies, and Spiegelberg GmbH, Johnson & Johnson, Sophysa Ltd, HaiWeiKang, Head Sense Medical, InfraScan, Inc., Integra Life Sciences Corporation and others.
Regional analysis:
US accounts for the maximum market share due to favorable reimbursement scenario and greater expenditure on healthcare. Europe is the second largest market due to large disposable income and rising awareness. Asia pacific region will be the fastest region because of large unmet needs which will be led by China and India. The Middle East and Africa market will be led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa is expected to be a laggard due to poor economic and political conditions.
Segmentation:
The global intracranial hemorrhage diagnosis and treatment market is segmented on the basis of devices and types. Based on the devices, the market has been segmented as invasive and non-invasive. The invasive segment is sub-segmented into ventricular drainage pressure monitors, lumbar drainage pressure monitors, micro-transducer pressure monitors. The non-invasive segment is sub-segmented into tissue resonance analysis (TRA) and Trans Cranial Doppler (TCD). Based on the types, the market has been segmented as intracranial hemorrhage treatment, cerebral hemorrhage, subarachnoid hemorrhage, postpartum hemorrhage, pulmonary hemorrhage, and other. Based on the drugs, the market has been segmented as anti-hypertensive, coagulants, and others. Based on the surgeries, the market has been segmented as decompression surgery, craniotomy with open surgery, simple aspiration, endoscopic evacuation, stereotactic aspiration, and clipping or coiling procedures.
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Mitochondrial Myopathies Market Dynamics, Forecast, Analysis and Supply Demand 2019

Market scenario:
The Global Lactose Intolerance Treatment Market is expected to register a CAGR of 7.10% and reach USD 41,054.4 Million by 2025. Lactose Intolerance treatment is a digestive problem with an impaired ability to digest lactose. Factors such as rising cases of gastrointestinal disorders, increasing awareness about Lactose Intolerance treatment and related complications, and increased prevalence of Lactose Intolerance treatment are the driving forces for the market. However, side-effects associated with supplements is projected to restraint the market during the forecast period (2019-2025).
Market Dynamics
Lactose Intolerance treatment is a medical condition identified by lactase (lactose digesting enzyme) deficiency within the patient’s body. As a result, lactose remains intact and unabsorbed producing various ill-effects such as flatulence, bloating, abdominal pains, and others. There are four types of lactose intolerance, namely, primary lactase deficiency, secondary lactase deficiency, congenital lactase deficiency, and developmental lactase deficiency. Secondary lactase deficiency mainly occurs due to irritable bowel syndrome (IBS), gastroenteritis, Crohn disease, ulcerative colitis, celiac disease, chemotherapy, and antibiotics. As per the study suggested by the Journal of Health, Population, and Nutrition in 2017, the prevalence of Lactose Intolerance treatment was significantly higher in IBS-D patients than in healthy individuals. In this study, some eligible IBS-D patients and healthy individuals were enrolled. In the enrolled individuals, lactose malabsorption was diagnosed by a lactose hydrogen breath test (HBT), and lactose intolerance-related symptoms were monitored for eight hours following lactose administration. It was found that the prevalence of lactose malabsorption was 72% in IBS patients and 60% in healthy individuals.
Segmentation
The global Lactose Intolerance treatment market has been segmented by type of lactose intolerance, treatment, form, and end user. The market, based on type, has been bifurcated into primary lactose intolerance, secondary lactose intolerance, and congenital/developmental lactose intolerance. Based on form, the Lactose Intolerance treatment market has been segregated into food supplements, enzyme lactase supplements, probiotics, and others (combination products and prebiotics). By form, the global Lactose Intolerance treatment market has been segmented into tablets/capsule, powder, and liquid. On the basis of end-user, the market has been divided into home care and hospitals & clinics. 
The food supplements segment, by treatment is estimated to hold a share of 70.4% in the market.
Regional Analysis
The global Lactose Intolerance treatment market, on the basis of region, is divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
Europe held the major market share of 42.0% in 2018. The dairy consumption in Western Europe is good in comparison to other regions of Europe and has a high per-capita consumption rate throughout the region. The Americas held the second largest market share of 28% in 2018. It is further segmented into North and Latin America. The consumption of dairy products is also distinct and variable in the Americas. Latin America, for example, is one of the fastest-growing dairy markets in the world. Consumers in this region are looking for more convenient ways to shop. They seek to purchase products from a single location or store, and it is one of the main drivers of hypermarkets and supermarkets in Latin America. Asia-Pacific is the third-largest region and held the market share of 20.0% in 2018. In terms of value, it has the largest dairy consumption, but it has the lowest per capita income spent on dairy products as it is still developing better infrastructure for the distribution of chilled dairy products. The Middle East and Africa is highly obsolescence with per capita spend on dairy at just USD 25 per head, the lowest in the world.
Key Players
The prominent players in the global are Abbott Laboratories, Inc. (US), Nestle (Switzerland), Cargill, Incorporated (US), Dean Foods (US), Johnson & Johnson, Inc. (US), and Novozyme, (Denmark) are some of the major players in the market.
Some of the key strategies followed by players operating in the global Lactose Intolerance treatmentmarket were innovation, product development, and acquisition & mergers.
  • In March-2018, Nestlé completed its acquisition of Atrium Innovations Inc., a global leader in nutritional health products. This acquisition supports Nestlé’s pursuit of growth opportunities in consumer healthcare to complement the company’s focus on its high-growth food and beverage categories
  • In April-2017, Abbott introduced science-based nutrition drinks to help patients have a better recovery from surgery. New Ensure Surgery Immunonutrition Shake and Ensure Pre-Surgery Clear Nutrition Drink is designed for hospitals implementing surgical guidelines for enhancing patient recovery. These drinks are also lactose-free.
  • In May,2016- Dean Foods launched a new DairyPure brand, lactose free milk to its line of dairy products. DairyPure lactose-free milk delivers real dairy nutrition and delicious taste. Also, it is 100% lactose-free, making it easy to digest for those with lactose sensitivities.

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Wednesday, 4 March 2020

Hyperspectral Imaging System Market Size, Share Analysis, Strategies, Revenue and Forecasts to 2025

Global Hyperspectral Imaging System Market held a value of USD 10,700 Million in 2018, at a CAGR of 17.4% during the assessment period of 2019 to 2025.
Hyperspectral Imaging System Market Synopsis
Hyperspectral Imaging Systems (HIS) are also known as imaging spectroscopy. It was originated from remote sensing and has various applications in surveillance, remote sensing, machine vision/optical, and medical diagnostics. It can acquire 2D images across a wide range of the electromagnetic spectrum. Increasing applications for research in life sciences and the medical diagnostics sector in the past few years are responsible for a surge in demand for hyperspectral imaging systems. The key players involved in this market are actively focusing upon building partnerships, collaborations, and joint ventures with hospitals and ambulatory centers to strengthen their position in the market. Moreover, there is an increasing growth in various chronic diseases, which pushes the need for efficient hyperspectral imaging systems in the developing as well as underdeveloped regions.
Hyperspectral Imaging System Market Influencer
Rising funding and investments for the development of hyperspectral medical imaging systems are likely to provide favorable conditions for the growth of the hyperspectral medical imaging system market during the forecast period.
Hyperspectral Imaging System Market Drivers
  • The growing industrial applications of hyperspectral imaging is anticipated to drive the growth of the market during the forecast period. It has various applications in food & agriculture, healthcare, defense, mining, and metrology industries.
  • Innovative and easy to use product launched in recent years
  • Rising spending on scientific research and aerospace industry
  • The growing prevalence of cancer and increasing awareness of innovative diagnostics methods is providing favorable conditions for the growth of the market during the forecast period. According to the US Department of Health and Human Services, 1,735,350 new cases of cancer were detected in the US in 2018. It is expected to accelerate the demand for hyperspectral imaging systems during the study period
  • High investment in research and development for the development of efficient imaging solutions
Market Restraints
  • High costs associated with HIS are likely to hamper the market growth
  • Data storage-related issues associated with HIS

Hyperspectral Imaging System Market Segmentation


By Product
  • Visible/Near-Infrared (VNIR): These systems create a false-color composite image made using near-infrared, green, and blue wavelengths. They are used in healthcare and agriculture sectors. VNIR segment is estimated to hold the largest market share during the forecast period due to the ease in operating and high efficiency of VNIR products
  • Mid-Wave Infrared (MWIR): Mid-Wave Infrared (MWIR) systems operate in wavelengths ranging from 3µm to 5µm (3000nm to 5000nm). This segment is anticipated to be the fastest-growing segment owing to the rising adoption of MWIR systems in detecting volcanic vents, industrial gas leaks, or biomass burning events.
  • Short-Wave Infrared (SWIR): It operates in wavelengths between 1,050 and 2,500 nm and used in inspection, sorting, and quality control. It has various applications including surveillance and remote sensing.
  • Long-Wave Infrared (LWIR): Long-Wave Infrared (LWIR) systems are used in the detection of minerals such as quartz, adularia, albite, kaolinite, orthoclase, Na- and Ca-montmorillonite, calcite, opal, chalcedony, gypsum, alunite, jarosite, and other sulfates.
By Technology
  • Pushbroom: These devices are made up of digital micromirror devices (DMD), CMOS image sensors. It is also called a line scan. This segment is estimated to hold maximum market share during the forecast period. The growth of this segment is attributed to the growing popularity of push broom systems in computer vision, remote sensing, biomedicine, surveillance, precision agriculture, environmental studies, forensics, nanoparticle research, food science, mining, forestry, etc.
  • Snapshot: Snapshot hyperspectral imagers are fast as compare to other systems. This segment is expected to register the fastest CAGR during the forecast period.
  • Others: Others include whiskbroom, tunable filter, and other technologies.
By Application
  • Surveillance: The majority of the hyperspectral imaging systems are used for defense and surveillance. Additionally, it can detect satellites, high-altitude reconnaissance aircraft, medium-altitude commercial aircraft, and drones. The market growth of the segment is majorly attributed to the increasing adoption of innovative technologies in the defense sector, along with the rising applications of unmanned aerial vehicles for surveillance purposes.
  • Medical Diagnostics: Medical diagnostics segment is anticipated to be the fastest-growing segment owing to the increasing applications of the hyperspectral imaging system in healthcare, such as the detection of the chemical composition of human tissues. Additionally, it has potential applications in non-invasive diagnosis.
  • Remote Sensing: Remote sensing is likely to hold significant market share in the global hyperspectral imaging system market. It is also known as imaging spectroscopy. It is used for the detection and identification of minerals, terrestrial vegetation, and human-made materials and backgrounds.
  • Machine Vision/Optical: Various hyperspectral imaging systems are used for machine vision/optical purposes.
By Region
  • Americas: Americas is estimated to be the largest regional market owing to the presence of prominent players in the major countries in America. Major market players such as Headwall Photonics, Inc., Resonon, Inc., Corning Incorporated, Applied Spectral Imaging, and Surface Optics Corporation have a significant presence in the Americas. The region is anticipated to dominate the global hyperspectral imaging system market owing to the well-established healthcare sector and rising healthcare spending in the region. According to the Committee for a Responsible Federal Budget, in 2017, the US has spent more than USD 3.5 trillion on healthcare-related expenses.
  • Europe: The European region holds the second largest share as there is increasing support from regulatory authorities to control cancer. Moreover, the rising expenses on defense and surge in demand for innovative and easy to use hyperspectral imaging systems have led to an increase in demand for hyperspectral imaging systems in the region.
  • Asia-Pacific: The Asia-Pacific region is anticipated to be the fastest-growing region in the global hyperspectral imaging system market. This region is witnessing a surge due to the increasing mining activities, and growing biotechnology and agriculture sector in developing countries such as India. According to the India Brand Equity Foundation, the Indian biotechnology sector is likely to reach around USD 12 billion in the year 2018. The growing biotechnology sector is likely to provide favorable conditions and anticipated to drive growth in the market.
  • Middle East & Africa: The smallest market due to limited healthcare infrastructure and limited exposure to innovative solutions.
Key Players
  • Headwall Photonics, Inc.
  • Specim, Spectral Imaging Ltd.
  • Norsk Elektro Optikk as (NEO)
  • Resonon, Inc.
  • Corning Incorporated
  • Telops
  • Applied Spectral Imaging
  • Bayspec, Inc.
  • Surface Optics Corporation
  • Chemimage Corporation
  • Cubert GmbH
  • Raytheon
  • Galileo Group, Inc.
  • Hypermed Imaging, Inc.
  • Inno-Spec
  • Camlin Group Ltd.
  • IMEC
  • XIMEA GmbH
  • Others


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Herbal Medicine Market Opportunities, Drivers, Manufacturers, Analysis and Forecasts Till 2023

The Global Herbal Medicine Market value is expected to register a CAGR of 5.88% to reach USD 1,29,689.3 million by 2023.
Herb is a plant or plant part used for its scent, flavor, or therapeutic properties. Herbal medicines are a type of dietary supplements. They are sold as tablets, capsules, powders, teas, extracts, and fresh or dried plants. People use herbal medicines to maintain and improve their health. Many conventional drugs originate from plant sources, and most of the few effective drugs are plant-based. Examples include aspirin (from willow bark), digoxin (from foxglove), quinine (from cinchona bark), and morphine (from the opium poppy). The development of drugs from plants continues, with drug companies engaged in the large-scale pharmacologic screening of herbs.
Key Players
The prominent players in the global herbal medicine market are Arkopharma, Bayer AG, BEOVITA, Hishimo Pharmaceuticals, Schaper & Brümmer, ZeinPharma Germany GmbH, Venus Pharma GmbH, Dasherb Corp, and Arizona Natural Products among other.
Some of the key strategies followed by the players operating in the global herbal medicine market were innovation, product development, acquisition, and expansion.
Market Dynamics
Herbal medicines are used since ancient times for numerous health conditions. It is the oldest and most extensively used system of medicine in the world today. There are various kinds of herbal medicines and supplements used across the world. According to the National Center for Biotechnology Information, 2015, the World Health Organization (WTO), reported that around 70% to 80% of people globally rely on herbal sources for their treatment. Also, according to the American Botanical Council, September 2017, it was reported that in 2016, the sale of herbal supplements increased by 7.7% in the US. It was also estimated that consumers spending on herbal supplements increased to USD 7.452 billion in 2016. Thus, the increase in the demand for herbal products for healthcare purposes is likely to enhance this market during the forecast period.

Segmentation
The global herbal medicine Market, by category, is segmented into herbal pharmaceuticals, herbal dietary supplements, herbal functional foods, and herbal beauty products. The herbal pharmaceutical segment led the herbal medicine market with USD 50,972.4 million in 2017. The herbal pharmaceutical segment is growing owing to the increasing research and development on various herbs to find their medicinal properties, growing demand for natural medicines having fewer side-effects, and rising prevalence of chronic diseases such as diabetes, arthritis, cancer, sleep disorders, and digestive problems.
Marrubium vulgare segment is the fastest-growing segment of the market at CAGR of 6.45% during the forecast period. Marrubium vulgare also known as white horehound is a largely cultivated plant, and its above-ground parts are used for medicinal use. The upper part of the plant is used in powder, liquid extract, or juice form for medicinal purposes. Marrubium vulgare is largely used for digestion problems which include indigestion, loss of appetite, gas, bloating, diarrhea, constipation, and gallbladder complaints. It is also used for the treatment of breathing problems
The global herbal medicine Market, by form, is segmented into extracts, powders, capsules and tablets, syrups, and others. The extracts segment accounted for the largest market share of 36.95% in 2017.
The global herbal medicine Market, by source, is segmented into leaves, fruit, roots, and barks whole plant, and others (combinations of various plant parts). On the basis of source, the leaves segment is expected to lead the global herbal medicine market. The leaves segment held a share of USD 51,495.2 million in 2017.
The global herbal medicine Market, by distribution channel, is segmented into hospital and retail pharmacies, e-commerce, and others. The hospital & retail pharmacies segment accounted for the largest market share of 55.82% in 2017. The growing prevalence of cancer and infectious diseases across the globe, improving healthcare infrastructure, and skilled professionals are driving the growth of hospital and retail pharmacies in the herbal medicine market.
Regional Analysis
Europe is expected to account for the largest market share owing to extensive R&D for herbal medicine, increasing funding for research on medicinal plants, and growing preference for herbal drugs globally. On a regional basis, Europe is segmented into Western Europe and Eastern Europe. Western Europe is estimated to lead market growth during the forecast period. The increasing prevalence of chronic diseases and rising government support facilitate market growth within the region.
Americas accounts for the second largest share in the global herbal medicine market. It accounted for a considerable market share of 16.2% as of 2017. The use of herbal medicines is also growing in the US after conducting the first national study of alternative and complementary medicines used by Eisenberg et al. According to the National Center for Biotechnology Information 2017, it was reported that herbal supplements were majorly used for conditions such as cancer (43.1%), stroke (48.7%), and arthritis (43%) in the US. Such a high demand and preference for herbal products is likely to boost the market growth during the forecast period.
Asia-Pacific is expected to register a CAGR of 5.99% during the forecast period owing to the adoption of traditional medicines by pharmaceutical companies, researchers, and policymakers. On the other hand, the Middle East and Africa are expected to observe a slow growth due to less awareness and in-depth knowledge about herbal drugs in this region.
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