Wednesday, 17 June 2020

Global Medical Writing Market 2020 Size, Trends, Industry Analysis, Leading Players & Future Forecast By 2025

Market Synopsis of Global Medical Writing Market
Increasing demand for regulatory paperwork in the pharmaceutical and biopharmaceutical industry is expected to drive the growth of the medical writing market. Pharmaceutical medical writing has grown significantly in India in last few years. Medical writing includes preparing regulatory paperwork and publication of documents related to health, diseases, and healthcare products. It requires medical knowledge and understanding of drug development and regulatory guidelines. Medical writing plays a vital role in the success of a clinical research project. An increase in healthcare spending is expected to drive the growth of the global medical writing market.
Strategic mergers & acquisitions are also projected to boost market growth with companies looking to strengthen their market positions and expand their product portfolios. For instance, in May 2019, ICON acquired MediNova, an integrated network of clinical research sites across Europe, Middle East & Africa. The acquisition helped ICON strengthen its position exponentially in the medical writing market.
The Global Medical Writing Market growth Size is expected to cross USD 3.25 Billion by 2025 at a CAGR of 10.1 %.
An increase in research and development (R&D) investment and the expiration of patents are directly linked to the growth of the market.
Segmentation
The global medical writing market has been segmented based on type, application, and end user.
The market, based on type, has been divided into clinical writing, regulatory writing, scientific writing, disease- and drug-related writing, and others. The clinical writing segment is likely to be the largest during the review period due to increasing investment made by pharmaceutical industries, and other government bodies are investing in clinical trials globally. The regulatory writing segment is predicted to be the fastest-growing. Regulatory writing includes different clinical documents which include treatment of various disorders and contains descriptions of clinical trials.
The global medical writing market has been segregated, based on application, into medical journalism, medical education, and medico marketing. The medical journalism segment is expected to hold the majority share of the market. It is one of the most significant segments due to the growing need for multiple reliable sources of medical information and update on current treatment methodologies in the drug industry. The medical education segment is expected to be the fastest-growing due to the increasing use of various medical notebooks and online research articles to analyze multiple chronic disorders.
The end user segments of the market are pharmaceutical & biotechnology companies and contract research organizations (CROS). The pharmaceutical & biotechnology companies segment is expected to hold the largest share of the market as the use of medical writing is highest in pharmaceutical companies.
Regional Analysis 
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the increasing prevalence of medical writing and rising per capita healthcare expenditure. The medical writing market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European medical writing market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The medical writing market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing patient pool of medical writing and rising awareness about the treatment methods, the market in Asia-Pacific is expected to be the fastest-growing. The medical writing market in the Middle East & Africa has been divided into the Middle East and Africa.
Key players for Global Medical Writing market
Some of the key players in the Global medical writing market are  Cactus Communications (UK), Covance Inc (US), SIRO CLINPHARM (India), IQVIA (US), OMICS International (India), Freyr Solutions (US), SYNCHROGENIX (US), INCLIN, INC (US), and Clinexa Life Sciences Pvt (Australia), and Parexel International Corporation (US). Top of Form
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Global Diabetic Neuropathy Treatment Market 2020 Insights Business Opportunities, Current Trends And Restraints Forecast 2025

Market Scenario:
The Global Diabetic Neuropathy Treatment Market growth is expected to cross USD 5.80 Billion by 2025 at a CAGR of 5.1%.
Market Synopsis
The number of diabetic neuropathy cases is increasing globally, fueling market growth. Diabetic neuropathy treatment is the second-highest contributor to global disability and an estimated 30% to 40% of people across the globe live with diabetic neuropathy.
Diabetic neuropathy is most common in low- and middle-income countries, and this disorder requires lifelong care to manage.
Market Influencer
The rising prevalence of diabetic disorders and increasing reimbursement offered to patients by health insurance providers.
Market Drivers
  • Growing global geriatric population.
  • Change in lifestyle habits leading to bad posture, which is increasing the prevalence of diabetic neuropathy disorder.
  • Increasing research and development of new drugs to treat diabetic neuropathy disorder.
  • Rising prevalence of diabetic neuropathy. For example, the prevalence of diabetic neuropathy in the fiscal year 2000 to 2030 will reach up to 366 million people in the US.
  • Rising awareness of advanced treatments for diabetic neuropathy.
  • Launch of a new medication to manage the symptoms of chronic diabetic neuropathy.
Market Restraints
  • High treatment costs.
  • Availability of alternative therapies such as traditional medicine and physiotherapy.
  • Need for specialized equipment to diagnose and treat diabetic neuropathy.
Segmentation
By Disorder
  • Peripheral Neuropathy: The largest segment of the market, peripheral neuropathy afflicts almost 1% of the entire global population and is three times as likely to afflict women than men.
  • Autonomic Neuropathy: This disorder generally afflicts elderly people. As of 2018, about 23 million people in the US had autonomic neuropathy and over a quarter of those afflicted could not perform daily activities.
  • Proximal Neuropathy: It is a rare type of nerve damage that occurs in hip, buttock, or thigh. It typically affects one side of the body and rarely spreads to the other side of the body. About 50% of patients suffering from diabetes have proximal neuropathy.
  • Focal Neuropathy: This focal neuropathy disorder afflicts roughly 3 out of every ten individuals who have diabetes with over 100 million people affected globally.
By Treatment
  • Drugs: The fastest-growing segment of the market, drugs are most widely used for the treatment of diabetic neuropathy. A rise in the number of FDA approvals for drugs to treat diabetic neuropathy is a key factor for the growth of the segment.
  • Transcutaneous Electrical Nerve Stimulation (TENS): The largest segment, TENS is the preferred treatment for many diabetic neuropathies as they reduce inflammation and suppress immune system activity.
  • Others: The other segment includes physiotherapy and electroacupuncture and various other treatment options for diabetic neuropathy.
By End-User
  • Hospitals and Clinics: The largest segment, hospitals, and clinics are usually the primary points for diagnosis, treatment, and rehabilitation of individuals afflicted with diabetic neuropathy. Growing awareness and increasing efficiency of diabetic neuropathy treatment are projected to drive the growth of this segment during the forecast period.
  • Retail Pharmacy: A small segment. This center provides immediate pain relief and rudimentary drugs for diabetic neuropathy.
  • Online Pharmacy: Various drugs are used for the treatment of diabetic neuropathy which can be easily available in online pharmacy.
  • Others: This segment includes home care and senior citizen centers.
By Region
  • Americas: The largest regional market. The prevalence of diabetic neuropathy is high in the Americas. The region also has a well-established healthcare industry. Out of the entire population, around 72.2% people in the US were suffering from diabetic neuropathy in 2017.
  • Europe: An increasing geriatric population is leading to a rise in the number of diabetic neuropathy disorder cases.
  • Asia-Pacific: The fastest-growing regional market. Asia-Pacific is seeing a surge in the number of people afflicted with diabetic neuropathy due to bad posture brought on by lifestyle changes, aging, and genetic predisposition. Diabetic neuropathy is an increasing problem in Asia. Approximately 4000 patients were diagnosed with diabetic neuropathy in Korea in 2017, whereas in Japan, around 298 people were diagnosed with diabetic neuropathy in 2017.
  • Middle East & Africa: The smallest market due to limited healthcare infrastructure and a very young population.Top of FormBottom of Form
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Implantable Cardioverter Defibrillator (ICD) Market 2020: Size, Upcoming Trends, On-Going Demand, Growth And Forecast From 2020 To 2025 With Most Prominent Key Players

Market Forecast

Global Implantable Cardioverter Defibrillator (ICD) Market is expected to grow from USD 6,952.2 Million in 2018 to 10,425.96 Million by 2025 at a CAGR of 5.96%.
Implantable Cardioverter Defibrillator (ICD) is used to record the heart's activity and treat dangerous ventricular arrhythmias with an electrical shock or pulse to the heart. If an arrhythmia is detected, the ICD delivers a high voltage shock to correct the irregularity in that chamber. A dual-chamber ICD monitors the electrical activity in two chambers of the heart (an atrium and a ventricle) and delivers electric pulses to one or both chambers in the event of an arrhythmia.
Approximately 80% of the patients in the US aged 65 or above survived for at least two years after receiving ICD after sudden cardiac or near-fatal arrhythmia in 2018.
 This is a higher rate than the one found in past trials performed to demonstrate the efficacy of devices in this situation. The study also found that 65.4% of patients were hospitalized after receiving an ICD, ranging from 60.5% in those less than age 70 to 71.5% in those aged 80 and older. In addition to this, approximately 13.1% among those less than 70 years old and 21.9% of those 80 and older were admitted to a skilled nursing facility. The study was conducted on 12,420 Medicare beneficiaries from almost 1,000 hospitals in the US.
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According to a study published in the Endocrinology, Diabetes & Metabolism Case Reports in 2018, more than 26% of the patients diagnosed with type 2 diabetes were estimated to suffer from Silent Myocardial Ischemia (SMI). Moreover, it is reported that the prevalence of diabetes has increased. This is illustrative by the fact sheet of the World Health Organization published in 2018. According to the report, the global prevalence of diabetes among individuals aged 18 years or more was about 8.5% in 2018. Thus, it is interpreted that the rising prevalence of diabetes provides a necessary driving force for the myocardial ischemia segment and ICD market to expand during the forecast period.
Market Influencers
Higher success rates of implantable cardioverter defibrillators for the treatment of patients suffering from myocardial ischemia and acute myocardial infarction would fuel this market.
Technological advancements in subcutaneous ICD technology help in minimally invasive procedures and have high success rate for the treatment of myocardial ischemia and acute myocardial infarction. This is likely to boost the market during the forecast period.
Market Drivers
  • Rise in the prevalence of coronary heart diseases – Coronary heart disease or coronary artery disease is characterized by the hardening and narrowing of the arteries that supply blood to the heart muscle due to plaque buildups (atherosclerosis). This reduces the flow of blood to the heart and may result in partial to complete blockage of heart's arteries. Therefore, the disease is reported to be seen as a major cause of myocardial ischemia. In recent years, the prevalence of coronary heart disease has increased. According to the updated fact sheet of the Centers for Disease Control and Prevention in 2017, coronary heart disease was estimated to be the most common type of heart disease within the regional boundaries of the US. Furthermore, it was illustrated that the disease killed approximately 366,000 people in 2015. Conclusively, it is estimated that such prevalence of coronary heart disease will increase the number of reported cases for myocardial ischemia, thus, providing suitable backgrounds for the market to grow.
  • Increasing application of implantable cardioverter defibrillators due to higher success rates.
  • Growing awareness about implantable cardioverter defibrillators.
Market Restraints
  • High Cost of ICDs: High cost of therapeutic surgeries and side-effects related to medications are projected to restrain the market growth during the forecast period.
  • Stringent government regulations and product approvals in major regions and countries such as European Medicines Agency in European Union, FDA in the US, CFDA in China, and other regulatory agencies in major companies make it difficult for a new entrant into the market further restricting the market growth.
Segmentation
By Product
  • Regular ICD: These are small pager-sized devices placed in the patient’s chest and helps in reducing the risk of dying if the ventricles (lower chambers of heart) goes into dangerous rhythm and when patient undergoes cardiac arrest. This is the most common type of ICD.
  • Cardiac resynchronization therapy defibrillators (CRT-D): These devices are composed of a small electronic device that is implanted surgically into a pocket of skin and helps in both ventricles contract together. They are also called biventricular pacemakers.
  • Subcutaneous-ICD (S-ICD): Works by intensive observation of heart rhythms through wires inserted under the skin and above the heart. The advantage of these ICDs is that there are no wires in the body’s circulatory system, so the risk of serious infections is decreased. The major disadvantage of these ICDs is that it cannot pace the heart out of a dangerous rhythm and can only treat arrhythmias with shocks.
  • Others: Covers accessories and small component parts of implantable cardioverter defibrillators.
By Indication
  • Myocardial ischemia: Myocardial Ischemia is the largest as well as the fastest-growing segment by indication as ICDs are majorly used in the treatment of myocardial ischemia. Moreover, the prevalence rate of sudden cardiac arrests is rising. Myocardial ischemia is further segmented into symptomatic and asymptomatic. When symptoms such as chest pressure or pain, neck or jaw pain, shortness of breath, nausea, and vomiting are experienced by the patient, it is called symptomatic myocardial ischemia whereas, asymptomatic myocardial ischemia is a condition which occurs in the absence of symptoms such as chest pain and anginal equivalents (shortness of breath, sweating, extreme fatigue, and others). The American Heart Association reported that 3 to 4 million Americans have episodes of silent ischemia every year. Diabetic patients and people with a history of previous heart attacks develop silent myocardial ischemia. The asymptomatic (silent) myocardial ischemia segment held the largest share in the market in 2018.
  • Acute myocardial infarction: It is also commonly called a heart attack. Acute myocardial infarction is a life-threatening condition that occurs when blood flow to the heart muscle is abruptly cut off, causing tissue damage. It is the second-largest segment in the market by indication.
  • Electrolyte imbalance and drug toxicity: This segment is the third-largest in the market.
By End User
  • Hospitals and clinics: Hospitals and Clinics is the largest segment owing to the rising number of surgeries in hospitals globally.
  • Ambulatory surgical centers: Holds the second largest segment and is the fastest in terms of growth rate due to the increase in portable medical devices and increase in patient awareness.
By Region
  • Americas
  • Europe
  • Asia-Pacific
  • Middle East & Africa
Regional Analysis
  • Americas: Expected to be the largest market during the forecast period. Americas is the largest growing region due to the growing prevalence of cardiac diseases, high adoption rates of cardiac implantable electronic devices, presence of a well-established healthcare sector, and growing geriatric population in the region.
  • Europe: The European market for implantable cardioverter defibrillator is expected to be the second-largest during the forecast period with the moderate growth rate. According to the European Cardiovascular Disease Statistics 2017, 45% of deaths in Europe is due to Cardiovascular Diseases (CVD).
  • Asia-Pacific: The fastest-growing market. Asia-Pacific is the fastest-growing region due to changing regulatory scenario, growing healthcare expenditure, and increasing prevalence of cardiovascular diseases. According to the Asian Diabetes Prevention Initiative, 60% of the world’s diabetic patient lives in Asia. Such high incidences of diabetes that lead to cardiovascular diseases such as myocardial ischemia are likely to fuel market growth. The major players operating in the market are particularly focusing on mergers and acquisitions, which is expected to support market growth.
  • Middle East & Africa: The Middle East and Africa market is expected to observe slow growth due to less exposure to healthcare services and stringent government rules and regulations.
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Global Connective Tissue Disease Market 2020 By Manufacturers, Demand, Application, And Region 2023

Market Scenario

Connective tissues are a group of cellular congregations that provide support and structure to the human body. Connective tissue disease is a group of disorders which involves these protein rich tissues. Protein rich tissues play an important role of supporting organs and other parts of the body. Connective tissue disorders involves multiple organs and organ systems such as, skin, joints, muscles, lungs, kidneys, eyes, heart, gastrointestinal tract, and blood vessels. More than 200 disorders affect the connective tissues. According to a study published in Pan African Medical Journal in 2017, it is found that mixed connective tissue disorders are more frequent among Asians, and in the African population. It is also reported that among Asian population, the condition is more prevalent in China, and Japan. In the European region, the disorder is more prevalent in Italy, Hungary, Norway, and Poland.
The specific cause of this disorder is unknown but the genetic patterns are considered to escalate the risk for developing connective tissue diseases. The connective tissue diseases arises due to changes in certain genes are often known as heritable disorders of connective tissue. Some of the common inherited disorders are Ehlers-Danlos syndrome (EDS), Epidermolysis bullosa (EB), Marfan Syndrome, and Osteogenesis imperfect. EDS is an amalgamation of more than 10 disorders, characterized by stretchy skin, over-flexible joints, and abnormal growth of scar tissue. Various autoimmune diseases are also associated with connective tissue disorders, which includes polymyositis and dermatomyositis, rheumatoid arthritis (RA), Sjögren's syndrome, and vasculitis. Mixed connective tissue disease (MCTD) is another rare autoimmune disease, consisting of characteristic features of several diseases such as lupus, polymyositis or dermatomyositis, scleroderma, and rheumatoid arthritis. According to the National Center for Advancing Translational Medicines, currently there is no cure available for this condition but certain medications such as corticosteroids, immunosuppresive drugs, and nonsteroidal anti-inflammatory drugs (NSAIDs) help in the management of symptoms. It is also stated that MCTD is more frequent in females with a male to female ratio of 1:3, and the typical age of onset of MCTD is between 15-25 years.
Notably, the market is expected to expand in the near future due to the rising prevalence of various connective tissue disorders, high unmet needs of current treatment, and surge in the research and development expenditure.
Despite these drivers, there are some issues associated with connective tissue disease market. Lack of infrastructure in the middle and low income countries may hamper the growth of the market.
It is estimated that the global connective tissue disease market is expected to grow at a CAGR 11.5% during the forecast period of 2017-2023.
Intended Audience
  • Hospitals
  • Diagnostic clinics
  • Research and Development (R&D) Companies
  • Government Research Institute
  • Academic Institutes and Universities 
Segmentation
The connective tissue disease market is segmented on the basis of diagnosis, treatment, and end-user.
On the basis of diagnosis, market is segmented into physical examination, X-ray examination, ANA (Antinuclear Antibody Test), and others.
On the basis of treatment, market is classified into non-steroidal anti-inflammatory drugs (NSAIDs), cortisone drugs/steroids, antimalarial drugs, cytotoxic drugs, and others
On the basis of end-user, market is segmented into hospital, diagnostic clinics, and others.
Regional Analysis
The Americas dominate the connective tissue disease market owing to the rising awareness among people, and increasing healthcare expenditure. As per the facts suggested by the Centers for Disease Control and Prevention (CDC), out of the total annual healthcare expenditure, 86% is for people with chronic health conditions in the United States.
Europe holds the second position in the connective tissue disease market. It is expected that the support provided by government bodies for research & development and improvement in reimbursement policies in healthcare will drive the market in Europe.
Asia Pacific is the fastest growing market connective tissue disease, owing to a huge patient pool, developing healthcare technology, and rising healthcare expenditure in some countries within this region. According to the Australian Institute of Health and Welfare, in the years 2015 to 2016, the total health expenditure was USD 170.4 billion, which is 3.6% higher than expenditure of 2014–15.
The Middle East & Africa has the lowest market for connective tissue disease due to lack of technical knowledge and poor medical facilities. 
Key Players
Some of key the players in the market are Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd, Pfizer, AutoImmune Inc., Johnson & Johnson, Amgen Inc., AstraZeneca, Eli Lilly and Company, Biogen, LUPIN, and others.
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Global Lactose Intolerance Treatment Market 2020 – Investment Strategy, Outlook And Key Development Till 2025

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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Global Herbal Medicine Market 2020 – Investment Strategy, Outlook And Key Development 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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Tuesday, 16 June 2020

2020 Worldwide Precision Medicine Market Analysis, Market Share, Application Analysis, Regional Outlook, Competitive Strategies & Forecast By 2025

Precision Medicine Market Research Report: Information by Ecosystem Players (Pharmaceuticals and Biotechnology Companies, Diagnostic Companies, Healthcare IT Specialists/Big Data Companies and Clinical Laboratories), Sub-Markets (Companion Diagnostics, Biomarker-Based Test, Targeted Therapeutics, Pharmacogenomics (PGX), Molecular Diagnostics and others), Therapeutics (Cancer/Oncology, Cardiovascular Disease (CVD), Central Nervous System, Infectious Diseases and others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Global Forecast till 2025
The major market driving factor for precision medicine are patient’s involvement in personal healthcare, integration of wireless technologies with portable healthcare devices, and increase in genetic diseases (due to mutation, UV rays) among others.
The global precision medicine market size was valued at $38.92 billion in 2015, and is expected to reach $88.64 billion by 2025. Thus the market is expected to perform a growth at a CAGR of 12.48% from 2015 to 2025.
Precision medicine evolved from the concept that same medicine cannot function equally for two different individuals with the same disease as they have different gene structure. At the same time, medication depends on how well patients can respond to its dosage. Hence, the need for precision medicine. Market Research Future (MRFR), in their report, has included various drivers and segments that can produce a reliable prediction for the future market. Prevalent diseases such as cancer, diabetes, and others are boosting the precision medicine market as treatment of such diseases gets a better result with personalized medicine structure. Furthermore, its impact can significantly lower the cost of treatment.
However, a personal data breach can be seen as a major precision medicine market growth prohibition. The diagnostic cost can incur a high cost, stringent government policies, the risk with hardware and software failure, and lack of medical framework can hold back the market during the forecast period.
Key Players for Global Precision Medicine Market:
Abbott Laboratories, Almac Group, Ltd., Asuragen, Inc., Biomérieux Sa, Cepheid Inc., Cetics Healthcare Technologies Gmbh, Ge Healthcare, Glaxosmithkline Plc, Johnson & Johnson, Laboratory Corporation Of America Holdings, Medtronic, Novartis, Pfizer Inc., Qiagen, Biobase Gmbh, Quest Diagnostics Inc, Randox Laboratories Ltd., Sanofi Pharma, Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Ab-Biotics Sa, Caris Life Sciences, Healthcore, Inc., Ibm, Innventis, Intel Corporation, Molecular Health Gmbh, Precision For Medicine
Key Findings:
  • The global precision medicine market is expected to reach USD 88.64 billion by 2025.
  • By ecosystem diagnostic tool companies holds the largest market share of precision medicine market and is expected to reach USD 27.56 billion by 2025.
  • By sub-market, company diagnostics holds the largest market share of precision medicine market and is expected to reach USD 21.32 billion by 2025.
Segmentation
The global precision medicine market has been segmented into ecosystem players, sub-markets, and therapeutics.
Based on ecosystem players, the global market has been segmented into pharmaceuticals and biotechnology companies, diagnostic companies, healthcare IT specialists/big data companies, and clinical laboratories. The diagnostic tool companies segment accounted for a market value of USD 16.27 million in 2017.
Based on sub-markets, the global market has been segmented into companion diagnostics, biomarker-based test, targeted therapeutics, pharmacogenomics (PGX), molecular diagnostics, and others.
Based on therapeutics, the global market has been segmented cancer/oncology, cardiovascular disease (CVD), central nervous system, infectious diseases, and others.
Regional Analysis
Globally North America is the largest market for global precision medicine. Europe is the second-largest market for global precision medicine. The near future market for precision medicine will be dominated by the developed regions with developing regions providing a supporting role only. However the developing regions market particularly Asia Pacific will be the fastest growing and is likely to be the key to the future.
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