Thursday, 20 August 2020

Worldwide Medical Gases and Equipment Market Top 10 Players Universal Analysis, Industry Demand And 2023 Forecast

 Market Scenario:

 

Medical gases are the life-saving element that provides direct influence in maintaining the life of patients. Medical gas equipment are the supply systems used by hospitals & clinics, academic & research institutions, pharmaceutical & biotechnology industries to create or distribute medical gases in the piping system. Few of the market growth factors are globally growing geriatric population coupled with increasing prevalence of chronic diseases, the presence of favorable government initiatives such as industry-friendly safety, and rising demand for point of care products & home healthcare. The Centers for Disease Control and Prevention (CDC) reported that, in the US, 6 in 10 adults have a chronic disease and 4 in 10 adults have two or more chronic diseases such as heart disease, cancer, chronic lung disease, stroke, diabetes, and chronic kidney disease (CKD).

 

Market Research Future (MRFR) projects the global medical gases and equipment market size up surging with a robust 7.5% CAGR over the forecast period, according to a new report. The global medical gases and equipment market was valued at USD 13 bn in 2017 and is expected to exhibit stable growth over the forecast period due to the growing medical gases and equipment market demand in various medical and research institutions.

 

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The growing geriatric population and the growing prevalence of chronic respiratory diseases is also likely to be a major driver for the global medical gases and equipment market over the forecast period, as medical gases are majorly used in the treatment and management of chronic respiratory diseases. The rising demand for home healthcare is also likely to be a major driver for the global medical gases and equipment market over the forecast period. Increasing government support to initiatives enhancing the healthcare sector’s operations is also likely to be a major driver for the global medical gases and equipment market over the forecast period.

 

Key players:

Atlas Copco, Air Liquide, Praxair Technology, Inc., Airgas, Inc., Messer Group GmbH, AB Matheson Tri-Gas, Inc., The Linde Group, TAIYO NIPPON SANSO CORPORATION, Amico Corporation, SCI Analytical, SOL S.p.A., Rotarex SA, GCE Holding AB, Air Products and Chemicals, Inc., and Matheson Tri-Gas, Inc. are some of the prominent players in the global medical gases and equipment market.

Segmentation:

The Global Medical Gases And Equipment Market has been segmented into product, application, and end user.By product, the market has been segmented into medical gases, medical gas mixtures, and medical gas equipment. The medical gases segment has been further categorized into nitrogen gas, nitrous oxide gas, oxygen gas, carbon dioxide gas, helium gas, and medical air. The medical gases segment spearheaded the market in 2017 owing to worldwide increasing patient hospitalization and a surge in the number of patients suffering from respiratory diseases.The medical gas mixtures segment is further categorized into medical laser gas mixtures, medical drug gas mixtures, sterilant gas mixtures, lung diffusion mixtures, blood gas mixtures, aerobic gas mixtures, anaerobic gas mixtures, and breathing zone monitoring calibration standard. The medical gas equipment is further categorized into air compressors, vacuum systems, flow meters, cylinders, alarm systems, masks, and others (manifolds, regulators, and outlets).

On the basis of application, the market has been segmented into therapeutic applications, diagnostic applications, pharmaceutical manufacturing & research, and others. The therapeutic applications segment is further categorized into respiratory therapies, cardiovascular therapies, anesthesia delivery, and others.Based on end user, the market has been segmented into hospitals & clinics, academic & research institutions, pharmaceutical & biotechnology companies, and home healthcare.The Global Medical Gases And Equipment Market  has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The medical gases and equipment market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European Medical Gases And Equipment Market has been segmented into Western Europe and Eastern Europe. The Western Europe Medical Gases And Equipment Market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.The Medical Gases And Equipment Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The medical gases and equipment market in the Middle East & Africa has been segmented into the Middle East and Africa.

 

Regional Market Summary 
Geographically, the Americas is expected to dominate the global medical gases and equipment market due to the domicile of key market participants, the presence of sophisticated healthcare infrastructure and target population, and growing elderly population & prevalence of chronic diseases such as diabetes, cancer, asthma, respiratory diseases, cardiovascular diseases, and other non-communicable diseases. Europe is also likely to hold substantial market share over the forecast period owing to the presence of various associations, namely, the MGA (Medical Gas Association) and EIGA (European Industrial Gases Association), and federations such as the European Federation of Precision Mechanical and Optical Industries EUROM.

The market in Asia-Pacific is expected to exhibit the fastest growth during the forecast period attributed to the presence of large population base in countries like China & India, improving healthcare infrastructure coupled with rising spending on healthcare. The medical gases and equipment market in the Middle East & Africa would register the modest market growth rate from 2018 to 2023. Majority of the regional market is anticipated to be governed by the Middle East region due to increasing healthcare sector reforms.

Industry Updates:

In February 2019, Kitajima Sanso built a new medical oxygen filling plant in Myanmar. The plant is expected to begin operations in December 2019.

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International Oncology Information Systems Market 2019 Estimation And Forecasts Up To 2023

 Market Scenario

Global Oncology Information Systems (OIS) Market insights by MRFR is expected to register a healthy CAGR over the forecast period. The market held a market value of USD 2,356.6 million in 2017 and is projected to grow at a CAGR of 7.5% during the forecast period.

Oncology Information Systems (OIS) is a comprehensive information and image management solution that facilitates the management of patient treatment schedules, treatment plans, treatment delivery, and treatment summaries. This system involves the exchange of information between radiation therapy departments and the healthcare enterprises. Factors attributed for the market growth are worldwide growing geriatric population along with rising prevalence of cancer, increasing investments in cancer research, and technological advancements in OIS. The International Agency for Research on Cancer (IARC) stated that there were 14 million new cases of cancer in 2012 that grew to 17.0 million in 2018, which is anticipated to reach to more than 22 million by 2030. Progress in developing treatments is enabling investors to invest in oncology research. Increasing equity investments in ca ncer-therapeutics startups is foreseen to shape the OIS vertical in the near future. On the contrary, higher costs associated with OIS services are anticipated to restrain the market growth over the forecast period.

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Segmentation

The global oncology information systems market has been segmented into product & service type, application, and end user.

By product & service type, the market has been segmented into software and professional services. The software segment is further categorized into patient information systems and treatment planning systems. The professional services segment is further divided into consulting/optimization services, implementation services, and post-sale & maintenance services. The software for patient information systems segment spearheaded the market in 2017 as these systems offer advantages including planned treatment and remote access due to digital availability as compared to conventional record maintenance methods.

On the basis of application, the market has been classified into medical oncology, radiation oncology, and surgical oncology. The medical oncology segment would lead the market over the forecast period owing to rising applications of OIS in efficiently managing, interpreting, analyzing, and storing the patient information, as well as, in predicting the treatment results for patients, thereby improving their survival rates.

Based on end user, the market has been categorized into hospitals & oncology clinics, government institutes, and research centers.

The global oncology information systems market segmentation by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The oncology information systems market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European oncology information systems market has been segmented into Western Europe and Eastern Europe. The Western Europe oncology information systems market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The oncology information systems market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The oncology information systems market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key players

Accuray Incorporated, Cerner Corporation, Philips Healthcare, McKesson Corporation, Altos Solutions, Inc., Elekta AB, Varian Medical Systems, Inc., Flatiron Health, Inc., RaySearch Laboratories, Epic Systems Corporation, Bogardus Medical Systems, Inc., and CureMD Healthcare are some of the prominent players in the global oncology information systems market.

Regional Analysis

Geographically, the Americas would grab the highest market share over the forecast period due to the presence of oncology information systems providers, changing lifestyle coupled with rising burden of cancer, increasing expenditure on healthcare, and adoption of oncology information systems in the US and Canada. The IARC reported that in 2018, the Americas have 13.3% of the global population and accounted for 21.0% of incidence and 14.4% of mortality worldwide.

Asia-Pacific would represent the phenomenal growth during the forecast period due to growing elderly population coupled with rising prevalence of cancer. The World Health Organization (WHO) and IARC reported that the proportions of cancer deaths in Asia (57.3%) are higher than the proportions of incident cases (48.4%) due to the higher frequency of certain cancer types associated with poorer prognosis and higher mortality rates.

The oncology information systems market in the Middle East & Africa will exhibit considerable market growth rate from 2018 to 2023. Majority of the regional market is likely to govern by the Middle East region due to the presence of world-class cancer treatment centers in Dubai, Saudi Arabia, increasing healthcare sector reforms, and gradually rising investments in OIS sector.

Growing adoption of OIS in European countries, namely, UK, Germany, France, Italy, and Spain, as the major market value contributors such as Philips Healthcare, Elekta AB, and RaySearch Laboratories are headquartered in the region.

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Laser Probe Market 2023 – Market Size, Share, Trends Analysis And Growth Forecast

 Market Scenario:

Laser is view as a highly advanced technology used in imaging diagnostics procedures. Advances in technology and increasing demand for diagnostic services are some of the factors supporting the growth of market. There is a growing need for effective diagnostic technologies, which is creating opportunities for the laser probe market.

 

The rising prevalence of diseases associated with diabetic retinopathy, cancer and age-related macular diseases has made diagnostics a key healthcare segment. Many of these conditions can have a severe impact on the eye sight. It is a known fact that a significant number of eye related issues are triggered by chronic diabetes. However, the severe infection and genetic factors are also frequently linked with laser probe. The American Academy of Ophthalmology stated that in 2016, more than 4 Mn people with diabetes in the US had visual complications. Demand for laser probe has also increased due to their growing application in dental procedures for periodontal diseases and caries.  The aforementioned factors will continue to support the growth of the market throughout the assessment period.

 

As per Market Research Future (MRFR)’s analysis with the global laser probe market forecast, industry growth is set to strike a CAGR of 9.11% during the forecast period 2018 to 2023. The valuation of the market is estimated to reach USD 1560.76 Mn by the end of 2023.

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Competition Tracking:

Some of the notable players operating in the market include Alcon (Novartis), FCI, Reimers & Janssen GmbH, Transonic Systems Inc., OphthalMed LLC, Iridex Corporation, Bausch & Lomb Incorporated, ADInstruments, Quantel Medical, Omega Laser Systems Limited, Vitreq and Lumenis.

Segmental Analysis:

The report includes a thorough segmental analysis of the market based on probe type, product type, application and end user.

On the basis of product type, the market has been segmented into pulsed laser probes, continuous-wave (CW) laser probes and others. The continuous-wave (CW) laser probes segment currently accounts for the largest  Laser Probe Market share. In addition, the segment will continue to witness a steady growth during the forecast period. CW laser probes find widespread application in dermatological procedures such as wrinkle reduction, and scars or marks removal.

By probe type, the market has been segmented into cluster laser probe, single laser probe and others. The single laser probe segment currently accounts for the largest market share. The segment surpassed a valuation of USD 400 Mn in 2017. The cluster laser probe segment is projected to exhibit the strongest CAGR over 2023. Cluster laser probes are highly advanced and quickly gaining popularity. 

By application, the market has been segmented into dermatology, orthopedics, ophthalmology, dentistry, rheumatology and other. Of these, the ophthalmology segment accounted for the highest market share in 2017 and trends are likely to continue beyond 2018. Whereas, the dermatology segment is set to surge at the highest CAGR during the review period. This is primarily owing to the increased application of laser probes in various types of dermatological procedures.

By end-user, the market has been segmented into clinics, tertiary hospitals and others. Currently, the tertiary hospital segment accounts for the predominant share of the market. The currently market valuation of the segment is more than USD 500 Mn. This is attributed to the rapid proliferation of tertiary hospitals in urban and sub-urban areas.

Regional Outlook:

On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa (MEA). North America and Latin America collectively command the most dominant share of the global laser probe market. The increasing prevalence of diseases such as cataract and arthritis and the rising demand for aesthetics is supporting the growth market in these two regions.According to the American Society for Nutrition, in 2016, close to 47% of the adults in the US had periodontal disease. In the same years, 586,662 minimally-invasive cosmetic procedures were performed for laser skin resurfacing. The region will remain a key destination for market players throughout the assessment period.

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Global Particle Therapy Market Outlook, Key Financials, Segmental Revenue And Geographical Revenue Till 2023

 Market Scenario:

Particle therapy is one of the world's most advanced areas of external beam radiation therapy applied to oncology. This technique saves healthier radiation tissue better than conventional photon therapy. These particles have more favorable physical intrinsic properties that reduce the intake dose to approximately 50% of the dose in a clinically relevant target.

The Global Particle Therapy Market Forecast 2023 is accounted for USD 790.45 million in 2017 and expected to register 9.1% CAGR during the forecast period (2018–2023). 

The rising prevalence of cancer population, low risk of treatment induced disorders, potential for retreatment owing to low radiation dose, and rising number of particle therapy centers across the world are expected to drive the growth of the Particle therapy market share. Moreover, rising R&D spending and aggressive strategies adopted by the top players such as new product launches are contributing to the growth of the market. For instance, in December 2017, Advanced Oncotherapy plc announced that it secures the fresh funding of USD 46.75 million from which USD 37.5 million of funds coming from a new Chinese investor. The lack of adequate reimbursement policy and high costs involved in the establishment of these centers may hamper the growth of the particle therapy market size during the assessment period.

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Key Players

Some of the key players in the global particle therapy market are Advanced Oncotherapy PLC., Danfysik A/S, Hitachi, Ltd., Ion Beam Applications Sa (IBA), Mevion Medical Systems, Inc., Optivus Proton Therapy, Inc., Protom International, Inc., Provision Healthcare, LLC, Sumitomo Heavy Industries, Ltd., Varian Medical Systems, Inc.

Regional Analysis:

The market is likely to dominate by Americas during the forecast period owing to the increasing prevalence of cancer patients, rising government focused towards establishment of particle therapy centers for treatment, and well-established healthcare sector in the region. The European market is expected to be the second-largest due to government funding and support of the healthcare sector, coupled with increasing research and development. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to technological development, increasing adoption of advance treatment from developed countries, and favorable government initiatives for healthcare facilities. The market in the Middle East & Africa is likely to account for the smallest share of the global particle therapy market.

Segmentation:

The Global Particle Therapy Market has been segmented on the basis of type, product & service, cancer type, system, and application.On the basis of type, the market has been classified as proton therapy and heavy ion therapy. The market, by product and services, has been segmented into products and services. Products are further segmented into cyclotrons, synchrotrons, and synchrocyclotrons. Based on cancer type, the market has been segmented into prostate cancer, lung cancer, pediatric cancer, head and neck cancer, breast cancer, and others. The market, by system, has been segmented into multi-room systems and single-room systems. On the basis of application, the market has been classified as treatment applications and research applications. The pediatric cancer segment is expected to hold the largest market share of the particle therapy market, by cancer type, during the forecast period. Also, research applications to register the highest CAGR in the global particle therapy market during the forecast period.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The particle therapy market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. The European particle therapy market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.  The particle therapy market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The particle therapy market in the Middle East & Africa has been segmented into the Middle East and Africa. 

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Coronary Stents Market 2023 – Market Size, Share, Trends Analysis And Growth Forecast

 Coronary stents are used in the process of angioplasty to make the cross-section of the blood vessel wider. Stents hold the walls of the vessel and thus do not let it sag or shrink, thereby curing the blockages in the vessel. Coronary stents have substantially changed the practice of interventional cardiology by reducing early complications such as abrupt vessel closure and improving late clinical outcome (restenosis). This results in patient and physician satisfaction. Thus, this factor contributes heavily to the growth of this market.

Global Coronary Stents Market is expected to grow significantly over the forecast period. The market held a market value of USD 9,382.63 Million in 2017 and is projected to grow at a CAGR of 7.81% over the forecast period.

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Moreover, the wide acceptance of prosthesis in coronary artery treatment procedures also fuels the market growth. Key companies are also engaged in new product launches related to coronary stents owing to the wide acceptance of the product. For instance, in May 2018, Terumo Europe NV announced the launch of Ultimaster Tansei drug eluting stent in Europe.

The market, by coronary stents, is further segmented into drug eluting stents, bare metal stents, and bioresorbable vascular scaffolds. Drug-eluting stents are metal stents that have been coated with a pharmacologic drug known to suppress restenosis, whereas bare metal stents are stents without a covering or a coating. Bioresorbable vascular scaffolds are intended to provide mechanical support and drug delivery similar to drug eluting stents, followed by complete resorption in some years.

Regional Market Summary 

Geographically, the coronary stents market in usa is anticipated to dominate the global coronary stents market owing to the rising prevalence of the cardiovascular diseases such as cardiac arrhythmia, arterial blockage, and coronary artery disease among others. The development of the better therapeutic approaches and advanced treatment procedures have affected the growth of the American market in a positive way.

According to the data published by the Department of Health, New York in May 2018, percutaneous coronary intervention is one of the two most common procedures performed on patients with coronary artery disease. Besides this, the high medical awareness among American population, high disposable income, presence of the top medical device manufacturers in the region are some of the many factors that drive the growth of the coronary stents market in this region.

Europe is expected to hold the second largest market share in the global coronary stents market. The market growth in this region is majorly attributed to the increasing government support for the device manufacturers. Geographical expansion of companies has led to the wider reach of the medical products and services which has brought a huge change in terms of the acceptance and implementation of the new products as well as procedures. Similarly, Asia-Pacific region has observed a rapid growth in the coronary stents market owing to the development in the medical sector in developing countries like India and China. Moreover, increase in government funding for healthcare, rising R&D expenditure, and growing number of medical device companies in the region has led to its fastest growth during the forecast period. The Middle East and Africa region is anticipated to show minor growth opportunities in the coronary stents market during the forecast period.

 

Key players:

Abbott, B. Braun Melsungen AG, Biotronik SE & Co. KG, Boston Scientific Corporation, C. R. Bard, Inc., Cook Medical, Elixir Medical Corporation, Medtronic plc, Meril Life Sciences, MicroPort Scientific Corporation, Stentys SA, and Terumo Corporation are some of the key players in the global coronary stents market.
Segmentation:

Global Coronary Stents Market has been segmented into products, and end user.Based on products, the market has been segmented into, Drug Eluting Stents, Bare Metal Stents, and Bioresorbable Vascular Scaffolds. The drug eluting stent segment is expected to account for the largest share in the global coronary stents market in 2017. This large share is majorly attributed to the wider acceptance of the drug eluting stents in the angioplasty procedures, better patient compliance as compared to the bare metal stents. On the other hand, bioresorbable stents are projected to grow at the fastest rate during the forecast period. 

European Coronary Stents Market has been segmented into Western Europe and Eastern Europe where-in Western Europe region is further divided into Germany, France, the UK, Italy, Spain, and the rest of Western Europe.  The Coronary Stents Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The coronary stents market in the Middle East & Africa has been segmented into the Middle East and Africa.

On the basis of end users, the market has been segmented into hospitals & clinics, ambulatory surgical centres, specialty centres, and others. The hospitals & clinics segment is expected to account for the largest share in the global coronary stents market in 2017. At the same time, the increasing establishments of the ambulatory surgical centres in the developed and developing countries has led this segment to grow at the fastest rate during the forecast period.Based on the regions, the market for coronary stents is segmented in to, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The coronary stents market in the Americas region has further been segmented into North America and South America, where-in the North American market is further divided into the US and Canada.

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Blood Collection Market Worldwide Key Players Forecasts By Revenue, Growth Rate Till 2023

 Market Scenario:

Blood collection plays an important role in the treatment 0f patients. It persists as a diagnostic tool in laboratory medicine. In most of the cases, blood is usually collected to perform a variety of laboratory tests. Among all the types of blood collection devices, Capillary Blood Collection is simple and relatively painless procedure for clinical testing.

Global Blood Collection Market Size is expected to grow significantly over the forecast period. It is anticipated that the market held a valuation of USD 7.46 million in 2017 and is projected to grow at a CAGR of 6.1% over the forecast period.

According to the World Health Organization (WHO), there are over 35 Million healthcare workers and these workers face an increased risk of infection from blood-borne pathogens simply because of their exposure to blood and other body fluids. However, blood contamination and injury caused by blood collection devices can restrain the market growth over the assessment period.    

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Rising demand for early diagnosis of chronic conditions is one of the key factors driving the blood collection market trends and growth. According to the Centres for Disease Control and Prevention (CDC), in 2017 nearly 30.3 million people had diabetes out of which 23.1 million people were diagnosed with diabetes while 7.2 million people remain undiagnosed in the United States. Various other factors such as rising awareness about blood sampling, favourable medical device regulation, developing healthcare infrastructure, increasing research & development activities related to healthcare and favourable reimbursement and funding policies are also expected to propel the growth of the market. 

However, the injury caused during blood collection, blood contaminations, and other complications can hinder the market growth over the forecast period.

There are several potential complications related to blood collection procedure such as, Haematoma or excessive bleeding, arteriospasm or involuntary contraction of the artery, nerve damage, fainting or a vasovagal response, and others.

Key players:

  • BD,
  • Medtronic,
  • Terumo,
  • Haemonetics,
  • Fresenius,
  • Nipro Medical,
  • Kawasumi Laboratories,
  • L. Medical,
  • Greiner Holding,
  • Grifols,
  • Braun Melsungen AG,
  • Thermo Fisher Scientific Inc.,
  • HTL-STREFA S.A.,
  • Sarstedt AG & Co

Segmentation:
The Global Blood Collection Market has been segmented into type of blood collection, product, method, and end user.The market, on the basis of type of blood collection, has been segmented into capillary blood collection, venous blood collection, and vacuum blood collection.The market, by product, has been segmented into blood collection devices, blood collection tubes and collector, needles and syringes, warming devices, blood bags, lancets, and others. The blood collection tubes and collector segment is further classified as serum collection tubes, and plasma or whole blood collection tubes. The plasma or whole blood collection tubes segment includes EDTA tubes, heparin tubes, coagulation tubes, glucose tubes, and ESR tubes. The market, by method, has been segmented into automated blood collection and manual blood collection.

The market, by end user, has been segmented into hospitals & clinics, diagnostic centres and pathology laboratories, home diagnostics, blood banks, and others. The hospitals & clinics segment is anticipated to hold the largest Blood Collection market share owing to the increasing cases of chronic conditions. The diagnostic centres and pathology laboratories are expected to grow at the highest CAGR owing to the ongoing research on better blood sampling approaches.The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The blood collection market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European Blood Collection Market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.  The Blood Collection Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The blood collection market in the Middle East & Africa has been segmented into the Middle East and Africa.

 

Regional Market Summary 

According to the data suggested by Centres for Disease Control and Prevention (CDC) in 2017, 38,739 people received an HIV diagnosis in the US. An antigen/antibody test performed on blood from a vein can usually detect HIV infection 18 to 45 days after an exposure.

Geographically, the Americas is anticipated to dominate the global blood collection market owing to rising healthcare expenditure, increasing cases of chronic conditions and technological advancements in blood collection.

The blood collection market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to the awareness regarding use of sterile devices for blood collection and rising healthcare spending. According to the World Bank Group, India spent 3.89% of its Gross Domestic Product (GDP) on health.

Europe is expected to hold the second largest position in the global blood collection market. The market growth in this region is attributed to the government funding and improvement in research & development activities.

The Middle East & Africa are expected to hold the least share of the market. The market growth in this region is expected to be driven by rising awareness about blood collection techniques and developing healthcare infrastructure.

 

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Animal Genetics Market 2019 | Opportunities, Challenges, Scope, Analysis And Forecast Till 2023

 Market Scenario:

Animal genetics is a branch of genetics that pacts with the study of genetic variation and inheritance, primarily for domestic and wild animals. The Animal Genetics Market is expected to witness tremendous growth owing to as increased adoption of genetic services to prevent genetic diseases and business loss, and rising acceptance of advanced genetic technologies. Other key factors such significant investments in R&D and expansions undertaken by key players are contributing towards the growth of the market. However, challenges such as need for specific breeding programs for breeds with inferior economic performance, and economic sustainability in local breeds is likely to curb the market growth during the forecast period.

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For the commercial level, animal genetics is used for services such as DNA typing, genetic disease testing, and genetic trait testing. This methodology uses hybrid population, ontogenetic, and cytological studies for determining the genetic hybridizations. For instance, a genetically modified cow might be able to produce more milk and can be less prone to common cattle diseases, such as clostridial disease, bovine respiratory disease complex, etc., thus, effectively increasing overall profit of the cattle farmers.

 

The Global Animal Genetics Market trends and size is projected to register a CAGR of 8.4% over the forecast period.

The key factor responsible for influencing this market is increasing consumption of animal-derived protein, growing global population and rapid urbanization, and growing focus on identifying superior breeds have aided the growth of the toxicology testing market. However, factors such as, the high cost of animal testing, stringent regulatory framework for genetic engineering, and lack of skilled professionals and are expected to restrict the market growth during the forecast period.

 

Key players:

  • Neogen Corporation (US),
  • Genus (UK),
  • URUS (US),
  • EW Group (Germany),
  • Groupe Grimaud (France),
  • CRV Holding B.V. (The Netherland),
  • Topigs Norsvin (Netherlands),
  • Zoetis (US),
  • Envigo (US)
  • Hendrix Genetics BV (The Netherland),
  • Animal Genetics (US),
  • Alta Genetics (US),
  • vetGen (US)

Segmentation:
The Animal Genetics Market Global is segmented into animal genetic products, services, and end-user. The Animal Genetics Market, by animal genetic products, the market is segmented into genetic materials and live animals. The live animals are further bifurcated into poultry, bovine, porcine, canine and others. The genetic materials are sub-segmented into semen and embryo. On the basis of services, the animal genetics market is bifurcated into genetic disease tests, DNA typing, gene trait tests, and others. On the basis of end-user, the market is segmented into veterinary hospitals & clinics, diagnostic centers, research centers and institutes, and others

Regional Market Summary 

The Americas is the largest in the market owing to the high acceptance of animal genetics in research, the development in research expenditure along with the increasing acquisition by the market players are also accountable for the growth of the animal genetics market. For instance, in 2018, Neogen completed the acquisition of Livestock Genetic Services, a firm that specializes in genetic evaluations and data management for cattle-breeding organizations. This strategy enhances the company’s in-house genetic evaluation capabilities and further expands the company’s global network of animal genomics laboratories.

The European region is the second largest animal genetics market over the forecast period due to high consciousness about animal wellbeing coupled with increased expenditure on veterinary services in the region. As per a report by the European Pet Food Industry Federation, more than 75 million households in Europe own a pet.

The Asia Pacific region is likely to develop at the uppermost CAGR for the animal genetics market in the years to come. Moreover, the rising veterinary care services both at the veterinary hospital and at community level are expected to influence the market in a positive way.

The Middle East and Africa accounts for the least share due to low per capita income and lack of availability of well-trained healthcare professionals. However, there has been an increasing demand for test accuracy and consistency among end-users and the government in this region that is enhancing the adoption of animal genetic technology in this region.

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