Global Medical Smart Textile Market Positive Growth And Forecasts By 2027

Market Insights:

The Global Medical Smart Textile Market is expected to register a CAGR of 7.51% to reach 2,105.32 Million by 2027. Medical smart textile is a new field of research and is most widely used in the healthcare sector. Sensors are integrated into the textiles, in continuous contact with the human body, and could capture physiological changes occurring within the body. The demand for medical smart textiles is increasing due to the rising burden of diseases, evolving methods of diagnosis, and extensive use of wearable medical devices. These factors are expected to fuel the growth of the global medical smart textile market. However, the high cost of smart textiles is anticipated to hamper the market growth.

 

Key Players

The global medical smart textile market overview by Market research Future contains The top prominent players like Schoeller Switzerland, Vista Medical Ltd, Sensoria Inc., Gentherm, Siren, Pireta, AiQ Smart Clothing, Camira Fabrics, Carre Technologies Inc, and 3teks.

Some of the key strategies followed by players operating in the global medical smart textile market were innovation, product development, and acquisition & mergers.

• In February 2019, Gentherm signed a partnership agreement with ThermoAnalytics, Inc., a leading thermal modeling software development firm for the advancement of human thermal comfort predictions.

• In June 2019, Pireta developed a unique process that adds conductive metallic pattern directly into textile clothing without changing the fabric feel. These wearable smart garments and e-textile enabled physicians to diagnose diseases in their early stages and provide better treatment options. The launch of this device would help the company to increase its revenue in the future.

• In July 2019, Camira Fabric acquired Luna Textiles, a US-based company that manufactures fabric for healthcare, hospitality, and other lounge seating purposes. This acquisition helped Camira Fabric to increase its revenue.

Market Dynamics

 

The rising burden of diseases is expected to fuel the growth of the global medical smart textile market during the forecast period. According to the Global Burden of Disease Study in 2017, from 1990 to 2017, the leading causes of premature deaths were neonatal disorders, ischemic heart disease, lower respiratory infections, diarrhea, chronic obstructive pulmonary disease (COPD), and strokes. These diseases accounted for more than 1 million deaths worldwide in 2017. Additionally, the Global Burden of Disease Study in 2017, stated that there was a change in the mortality rate due to excess drug-resistant tuberculosis from 2007 to 2017.

 

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Segmentation

The global medical smart textile market has been segmented by technology, application, and end user. The market, based on technology, has been divided into wearable technology, textile sensors, and others. Based on application, the medical smart textile market has been segregated into bio-monitoring, surgery, therapy, and wellness and others. The global medical smart textile market, based on end user, has been bifurcated into hospitals and clinics and others. The hospitals and clinics held a share of 67.3% in 2018.

Regional Market Summary

The global medical smart textile market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is likely to dominate the global medical smart textile market. The growth in this region can be attributed to the extensive use of medical devices. Moreover, applications in medical engineering for monitoring vital health indicators help in maximizing the growth of the market in this region. Europe held a substantial share in the global medical smart textile market. This can be attributed to the rising government expenditure to promote the healthcare sector in the region. For instance, according to Eurostat, in 2016, healthcare expenditure per person was EUR 5,000 or higher in three EU member states that are Luxembourg (EUR 5,600), Sweden (EUR 5,100) and Denmark (EUR 5,000), as the per-person healthcare expenditure is very high in Europe and is continuously growing. Asia-Pacific is estimated to be the fastest-growing region in the global market. This is due to the extensive demand for advanced medical devices and increasing applications of technology in the early diagnosis of diseases fueling the growth of the medical smart textile market in the region. The medical smart textile market in the Middle East & Africa is expected to witness a modest market growth rate from 2019 to 2027. The Middle East would lead the market growth in this region. Increasing awareness about medical smart textiles is expected to drive market growth during the assessment period. 

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Pathological Microscopes Market Expects An Extensive Growth In Roi Till 2023

Market Scenario

The growth of the healthcare sector in conjunction with the rising prevalence of diseases is expected to create demand for advanced equipment over the next couple of years. A study conducted by Market Research Future (MRFR) on the pathological microscopes market projects that a CAGR of 4.50% over the assessment period 2018 to 2023. The report further underlines that the market is expected to scale a valuation of USD 523.20 Mn towards the close of 2023.

The increasing burden of diseases such as cancer, diabetes, tuberculosis, etc. is anticipated to intensify the demand for pathological equipment that facilitates early detection and diagnosis. It is projected to pave the way for innovation and development of devices that offer accuracy. This, in turn, is anticipated to have a favorable impact on the growth pattern of the pathological microscopes market in the years to come.

The automation drive witnessed in the laboratories is also projected to accelerate revenue creation for market participants. Again, the increasing count of laboratories and pathology labs are expected to propel the expansion of the pathological microscopes market size over the next few years.

Competitive Analysis

Microscope manufacturers in the pathological microscopes market include Nikon Corporation (Japan), Leica Biosystems Nussloch GmbH (Germany), Olympus Corporation (Japan), ZEISS International (Germany), Labomed, Inc. (U.S.), Hitachi High-Technologies Corporation (Japan), Euromex Microscopen BV (The Netherlands), Bruker Corporation (U.S.), Sakura Finetek USA, Inc. (U.S.), and Celestron LLC (U.S.).

The players are focusing on integrating new technologies to expedite the diagnosis rate associated with microscopes and lower the mortality rate. Collaborations, new product launches, and partnerships are strategies being adopted to gain a larger market share.

Segmentation

The pathological microscopes market is segmented by type, application, and end-user.

By type, electron microscope held close to 41.4% share in 2017, followed by optical microscope (18.8%), compound microscope (13.5%), digital microscope (5.4%), fluorescence microscope (4.4%), and others (16.5%). Electron microscopes can generate nearly USD 217.81 million by 2023 owing to their application in life sciences. Prevalence of diseases such as anemia and leukemia which require the need of electron microscopes lend credence to the segment valuation. But digital microscopes can exhibit the highest CAGR of 5.01% during the forecast period to accumulate USD 28.90 million for the pathological microscopes market by 2023.

By end-user, pathology & diagnostic laboratories accounted for 45.2% market share in 2017, followed by hospitals & clinics (38.6%), forensic laboratories (11.5%), and others (4.7%). Hospitals & clinics will be the biggest end-user of the pathological microscopes market by 2023. It can generate USD 206.25 million by the end of the forecast period owing to the setup of various branches of hospital chains to handle high patient volume. On the other hand, pathology & diagnostic laboratories can generate USD 239.73 million by 2023 thanks to possessing various skilled personnel and use of hematology, clinical microbiology, and molecular pathology for rapid diagnosis of diseases.

By application, bodily fluids accounted for 79.4% share of the pathological microscopes market in 2017, followed by tissue scanning (12.7%), and others (7.9%). Bodily fluids can generate USD 418.84 million for the pathological microscopes market by 2023. This can be attributed to use of fluid samples to identify the presence of diseases such as tuberculosis in the human body. High prevalence of blood disorders is driving the segment growth. On the other hand, tissue scanning is touted to accumulate USD 67.94 million by 2023. High prevalence of cancer and use of digital microscopes to detect abnormal tissue growth can fuel the segment growth.

Regional Analysis

The global pathological microscopes market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas is expected to gain control over the maximum market share during the review period. The regional market is projected to touch a valuation of USD 190.98 Mn by the end of 2023. The advancements of laboratories being observed in the region are expected to drive the growth of the pathological microscopes market in the nearby future.

Asia Pacific is projected to exhibit healthy growth owing to the rapid developments in the healthcare sector. The pathological microscopes market in the region is anticipated to attract massive investments over the next couple of years, thus, augmenting the market.

Industry News:

In March 2019, Nikon Instruments Inc., a leader in advanced optical instruments, has announced a partnership with OptraSCAN, On-Demand Digital Pathology Solution Provider, for the launch of OS-15-N, a digital slide scanning system that features Nikon optics.

In January 2019, Roche, a Swiss multinational healthcare company, has announced the introduction of its uPath enterprise software for digital pathology.

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Over-the-Wire Micro-Guide Catheter Market 2019 – Leading Manufactures, Regions, Drivers, Analysis And Forecasts Till 2023

Market Highlights

Global Over-the-Wire Micro-Guide Catheter Market: Information by, Application (Cardiovascular {Angiography, Angioplasty, Peripheral Stenting and others}, Neurovascular {Intracranial Aneurysms, Percutaneous Neuro Interventional Procedures and others} and others), End User (Hospitals & Clinics, Ambulatory Surgical Centers, Research & Academic Institutes and others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2023

Over-the-wire Micro Guide Catheter (OTW Micro Guide Catheter) is a thin tubular Medical device inserted into the body for diagnosis or treatments of diseases like cardiovascular, neurovascular, and urology. Specially designed to ease complex procedures, OTW Micro Guide Catheter combining excellent cross-ability and optimal guide-wire support, can effectively treat challenging cases involving tortuous vessels, CTO (chronic total occlusions), bifurcations, and highly stenosed and calcified lesions, giving the high success rate.

OTW Catheters are widely used in cardiovascular applications such as peripheral and coronary interventions and neurovascular interventional applications. The high success rate associated with the use of these catheters further augments its uptake and demand, resultantly driving its market growth.

According to Market Research Future (MRFR)’s global Over-the-wire Micro Guide Catheters market Size Forecast, the industry is expected to grow at a CAGR of 9.37% during the forecast period (2018–2023).

According to reports published by the Centers for Disease Control and Prevention, the coronary heart disease is the most common type of heart diseases that accounted for the death of about 366,000 people in 2015.

Over-the-wire catheters comparatively make a better choice to treat a brain aneurysm than the rapid exchange catheters owing to their capabilities of extra pushing to enter stenose vessels, and additional support that they provide.

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The increasing occurrences of coronary heart diseases, neurovascular diseases, hypertension, and other metabolic disorders, raising awareness for health, advancement in technologies, good healthcare infrastructure, and favorable reimbursement policies are fueling the market growth. 

Regional Analysis

The global over-the-wire micro guide catheters market is segmented into four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is the global market leader for over-the-wire Micro-guide catheters. As per the study published in the Surgical Neurology International in 2017, it was found that more than 3% population of the United States equivalent to nearly 10 million individuals have a brain aneurysm. North America commands for the major share of the market whereas; South America show the fastest growth of the market due to the presence of boundless growth opportunities.

Europe OTW Micro Guide Catheter market holds the second position, globally. This is primarily attributable to the increasing prevalence of obesity as well as the increased incidence rate of hypertension and diabetes, which in turn is escalating cardiovascular traumas and cardiac arrest. Each year 15% of deaths in Europe occur due to cardiovascular diseases claims a study conducted by European Society of Cardiology.

The Asia Pacific region is the fastest growing market for the over-the-wire micro guide catheters. The region presents significant growth opportunities for market players as local policy makers continue to restructure the policy framework for the healthcare sector.

Global OTW Micro Guide Catheter Market: Segmentation

The global over-the-wire micro guide catheters market is segmented on the basis of applications and end-users. On the basis of applications, it is segmented into cardiovascular and neurovascular. By the cardiovascular, it is segmented into angiography, angioplasty, peripheral stenting, and others. On the basis of the neurovascular, it is segmented into intracranial aneurysms, percutaneous neurointerventional procedures, and others. Based on end-user the market is segmented into hospitals & clinics, ambulatory surgical centers, research & academic institutes, and others.  

Major Players in the Over-the-wire Micro Guide Catheters Market

Enki – Microtubes, Cardinal Health, DePuy Synthes, Koninklijke Philips N.V, Penumbra Inc., Terumo Europe N.V., Integer Holdings Corporation, Merit Medical Systems Inc., Teleflex Incorporated, Cook Medical, Boston Scientific Corporation, Asahi Intecc Company Limited, and Medtronic plc.

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Herbal Medicine Market Key Manufactures Shares, 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.

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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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Age-Related Macular Degeneration Market Report By Global Industry Trends And Forecast The Upcoming Opportunities And Demand Till 2023

Market scenario:

This MRFR study offers a vivid view of the global age-related macular degeneration AMD market. The study includes an in-depth analysis of macro and micro-economic factors likely to influence the market during the forecast period. It further summarizes the key market opportunities and trends.

The Global Age-Related Macular Degeneration Market insights by MRFR assert, the market expected to register a CAGR of 7.80% to reach USD 11,186.8 Million by 2023. Age-related macular degeneration (AMD) is a chronic irreversible medical condition that results in central vision loss because of damage to the central area of the retina (macula). This condition is majorly categorized as dry age-related macular degeneration and wet age-related macular degeneration.

Growing geriatric population and increasing prevalence of age-related macular degeneration, several branded drugs going off-patent are expected to enhance market growth. However, factors such as high cost associated with AMD, stringent FDA regulations may restrain the market growth during the forecast period.

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Key Players

The prominent players in the global age-related macular degeneration market are Novartis AG, Pfizer Inc, F. Hoffmann-La Roche AG, Acucela Inc., Ophthotech Corporation, GlaxoSmithKline PLC, Bayer AG, Rxi Pharmaceuticals, Inc., Regeneron Pharmaceutical Inc., Alimera Sciences Inc., Santen Pharmaceuticals Co., ALLERGAN, and Bausch & Lomb Incorporate.

Market Dynamics

The global age-related macular degeneration market has been primarily driven by growing geriatric population and increasing prevalence of age-related macular degeneration, several branded drugs going off patent. For instance, according to the 2017 statistics suggested by the United Nations, it was estimated that 962 million people aged 60 or above comprise 13% of the global population. Factors such as high cost associated with AMD, stringent FDA regulations may restrain the market growth during the forecast period.

Segmentation

The global age-related macular degeneration market has been segmented into type, stages, age group, treatment, and route of administration. Based on type, the market has been classified as wet age-related macular degeneration (wet AMD) and dry age-related macular degeneration (dry AMD). Dry age-related macular degeneration (dry AMD) held a market share of 2,092.6 USD million in 2017. Based on stages the market has been divided into intermediate-stage age-related macular degeneration, early-stage age-related macular degeneration, late-stage age-related macular degeneration. On the basis of age group, the market has been bifurcated into above 75 years, above 60 years, and 40 years. Based on treatment, the market has been divided into treatment and Diagnosis. Based on the route of administration, the market has been classified as an intravitreal route of administration and intravenous route of administration. Based on the end user, the market has been segmented into hospital & clinics, diagnostic centers, and academic research institutes.

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Regional Analysis

The global age-related macular degeneration market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas dominate the global age-related macular degeneration market is owing to the rising ophthalmological disorders and increasing aging population. Nearly 7.3 million people are at significant risk of vision loss due to AMD.

Europe holds the second largest market share due to increasing older population and rising patient population. Additionally, improving government initiatives and increasing healthcare frame along with growing demand for technologically innovative treatment is driving the growth of age-related macular degeneration market in Europe

Asia-Pacific is estimated to be the fastest-growing region in the global age-related macular degeneration as it is developing at a very rapid pace and has shown the emergence of many players. Moreover, rising prevalence of eye disorders, increasing healthcare spending, and multinational companies moving towards the developing nations and setting operational set-ups are likely to drive the growth of the market. Japan held a market share of 23.2% in 2017.

The Middle East & Africa are expected to witness restricted growth due to limited access and healthcare affordability among the population. In the Middle East, the growth of the market is driven by increasing healthcare infrastructure and healthcare expenditure.

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Global Genetic Testing Market Growth Factors, Types And Application By Regional Analysis 2023

Market Synopsis of Global Genetic testing Market:

Genetic Testing Market is expected to grow at CAGR of 11.50% to reach USD 22834.19 million till 2024, revealed by Market Research Future (MRFR) with Global Genetic Testing Market Analysis by by Type, Method, by Application, and Regions - Americas, Europe, Asia-Pacific and Middle East & Africa and Forecast till 2024

Key Players

The prominent players in the global genetic testing market are Abbott Laboratories (US), Bio-Rad Laboratories, Inc. (US), Illumina Inc. (US), Myriad Genetics, Inc. (US), PerkinElmer Inc. (US), QIAGEN N. V.  (Germany), Quest Diagnostics Incorporated (US), Eurofins Scientific (US), F. Hoffmann-La Roche Ltd (Switzerland), Blueprint Genetics (Finland), BGI Genomics (China), and Thermo Fisher Scientific Inc. (US).

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Market Insights:

Genetic testing is also known as DNA testing. Genetic tests involve a set of lab tests for the study of the genetic makeup of patients and identify any gene mutations and alterations in the healthy structure of DNA leading to the development of genetic disorders.

Some of the protuberant drivers supporting the growth of the global genetic testing market are identified as raising awareness about the benefits of genetic testing and the rising prevalence of genetic disorders.

Additionally, the role of genetic tests in forensic investigations and change in the trend of the genetic testing industry from service-driven to product-driven industry are expected to drive the global genetic testing market in the coming years.

Genetic testing offers a lot of benefits such as the chance for taking preventive measures to avoid potential diseases and lead a healthy life, knowledge about genetic alterations in the fetus that may lead to abnormal growth, and aids forensic investigations, among others. Due to the great benefits provided by these tests, people are getting more aware of them. This phenomenon intrigues people to go for tests to understand their genetic structure and possible disorders they may have to go through. The growing awareness has gathered a lot of audience for the genetic testing market and has also positively impacted the growth of this market.

Moreover, there has been tremendous growth in the prevalence of genetic disorders which may be due to various reasons such as geographical and environmental changes, change in food habits, pollution, and exposure to harmful radiations or chemicals. Genetic tests are also used to analyze family relations such as father, mother, half-brother, half-sister, and others. Forensic science and genetic testing have aided law and order to a great extent. With an increasing number of companies entering into this segment, the overall market for genetic tests has increased and expected to grow fast in the near future.

Some of the key strategies followed by the players operating in the global genetic testing market were innovation, product development, acquisition, and expansion.

• In April 2017, Myriad Genetics, Inc. signed an agreement with Clovis Oncology for the use of its FDA-Approved BRACAnalysis CDx Test to identify patients with germline BRCA Mutations for the Rubraca (rucaparib) treatment.
• In January 2017, Bio-Rad Laboratories, Inc. announced the launch of the Single Cell Sequencing Solution in collaboration with Illumina Inc.
• In August 2016, Abbott Laboratories launched Alinity, a family of next-generation system.

Segmentation                                                                                                                                        

Global genetic testing Market, by type, segmented into prescribed genetic testing and direct to consumer genetic testing. Prescribed genetic testing is the leading segment, which is growing at the highest CAGR to reach USD 21653.91 million by the end of 2024. Its large market share is majorly attributed to the widespread availability and service providers of various genetic tests and less availability of direct to consumer tests in all parts of the world.

Based on method, the genetic testing market is segmented into molecular genetic tests/ DNA tests, chromosomal genetic tests, and biochemical genetic tests. The molecular genetic test/DNA tests account for major share with 11.78% CAGR during the forecast period. Molecular testing helps to determine the sequence in DNA or RNA related to a particular disease.

The genetic testing market, by application, is segmented into reproductive health, cancer screening, ancestry, predictive and pre-symptomatic testing, and others. The reproductive health segment accounted for the largest market share of 33.61% in 2018.

Regional Analysis         

The Americas accounted for the largest market share of the global genetic testing market, by region in 2018. This large share is majorly due to high awareness about genetic testing, high disposable income of the population, and implementation of newborn screening in the majority of the hospitals in the region. In 2015, approximately 12 million Americans suffered from genetic diseases which are approximately 1 in 20 people.

Europe accounted for the second largest market share. Technological advances, well-developed health care sector, and governmental support for the research and development of different tests and devices have provided fuel for the growth of the market. Germany commands the largest market share in the Europe genetic testing market.

Asia-Pacific is the fastest growing region for genetic testing. The presence of a huge patient population, rapid development in technology, and the presence of huge opportunities for the development of the market drive the growth of the Asia-Pacific genetic testing market. The Middle East & Africa accounted for the 8.8% market share in 2018.

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International Vocal Cord Paralysis Market And Prominence 2023 On Consumer Needs, Revenue, Pricing Strategy And Growth Rate

Market Dynamics

Vocal Cord Paralysis Market is driven by rising prevalence of causing factors of vocal cord paralysis and technological advancements. For instance, according to the American Cancer Society, the estimated number of new cancer cases involving larynx was 13,360 in the US for the year 2017. Moreover, increasing healthcare expenditure has fueled the growth of the market. On the other hand, the high cost of treatment is anticipated to hamper the market growth.

Market Scenario

The Global Vocal Cord Paralysis Market Growth is expected to register a CAGR of 3.8%and is anticipated to reach USD 2,920.2 Million by 2023. Vocal cord paralysis is caused by the disruption of nerve impulses to the muscles of the larynx or voice box. It may be caused by injury to the head, neck, or chest; lung or thyroid cancer; tumors of the neck or chest; or infection. The nerves controlling the vocal cords are long and can be vulnerable to injury in parts of the body, not usually associated with the vocal cords.

The increasing prevalence of causing factors of vocal cord paralysis, technological advancements, and growing healthcare expenditure are the major drivers propelling market growth. However, the high cost associated with the treatment is expected to constrain the growth of the market.

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Competitive Landscape

Key players in the vocal cord paralysis market include Cytophil, Inc. (U.S.), Teleflex Incorporated (U.S.), Medtronic Plc (U.S.), Olympus Corporation (Japan), Stryker Corporation (U.S.), FUJIFILM Holdings Corporation (Japan), LifeCell Corporation (U.S.), Therapy Solutions Inc. (U.S.), KARL STORZ GmbH & Co. KG (Germany), and Smiths Group Plc (U.K.).

 

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.

Segmentation

By type, the market is divided into unilateral and bilateral. Treatment options in the vocal cord paralysis market voice therapy and surgery. The surgery treatment segment is further divided into structural implants, tracheotomy, bulk injection (phonosurgery), and vocal cord repositioning. The segments covered in the vocal cord paralysis market report are analyzed with respect to four regions namely – Americas, Middle East & Africa (MEA), Asia Pacific (APAC), and Europe. The report discusses in detail the various players residing in these regions and their respective strategies to climb up the market standings.

Regional Analysis

By region, the global vocal cord paralysis market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).

The Americas accounted for the largest share of 35.4% share of the global market in 2017 and is due to reach USD 1,007.5 Mn in 2023 at a CAGR of 3.4% by the end of the forecast period. Robust healthcare sector, technological superiority, and rising expenditure ion healthcare sector drive the market in the Americas. In addition, the region is highly aware of the medical condition which is acts a plus for the growth of the market.

 

Europe is a prominent market for vocal cord paralysis and is likely to scale valuation of USD 958.1 Mn at a CAGR of 4% by the end of the forecast period. Similar factors spur the Europe market as the Americas. Also, favorable reimbursement policies and high government support create a conducive environment for the growth of the Europe vocal cord paralysis market.

 

APAC vocal cord paralysis market is likely to exhibit rapid growth over the forecast period and emerge as the fastest growing market over the forecast period. The increasing prevalence of laryngeal cancer, availability of affordable treatment options and high expenditure on healthcare drive the market in APAC. The APAC market is expected to capture a CAGR of 4.11% over the forecast period.

 

The MEA market for vocal cord is expected to hold the least share of the market and expand at a CAGR of 3.90% over the forecast period.

 

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