Light Therapy Market to Witness an Outstanding Growth by 2025

 Light Therapy Market Overview: 

The global light therapy market growth report is showing an opportunity for the market to achieve 5.1% CAGR during the forecast period of 2019 to 2025, with a valuation of USD 1,112.16 million. Market Research Future (MRFR) revealed several growth-inducing factors that can be studied to understand the market motions in the coming years. These factors are the rising dermatological disorders like acne vulgaris, Psoriasis, etc., which affect around 50 million US citizens per year, several psychological conditions like depression, rising investment in research and development, technological advancements, and inclusion of blue light therapies.  

However, side-effects like nausea and headache can create some limitations for the light therapy market. Lack of awareness can also prevent the market from achieving its normal growth.  

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Light Therapy Market Segmentation: 

MRFR analysts have segmented the global market for light therapy for a better review. This segmentation includes studies on product, application, light type, and end user. Figures and charts have backed fetched data from this segmentation.  

By product, the global market for light therapy has been segmented on the basis of the lightbox, floor & desk lamps, light visor, dawn simulator, light therapy bulbs, handheld devices for skin treatment (HDST), and others. The ‘others’ segment includes Bluewave technology and light on timer. The HDST segment is the largest in terms of revenue and market size.  

By application, the global market of light therapy covers Psoriasis, vitiligo, eczema, acne vulgaris, seasonal affective disorder (SAD), sleep disorders, and others. The ‘others’ segment covers bone injuries and joint pains. The sleeping disorder segment has the largest market share, whereas the Psoriasis segment is the fastest-growing one.  

By light type, the global light therapy market has been segmented into blue light, red light, white light, and others. The blue light segment has the largest market share and the red light is predicted to be the fastest-growing segment. 

By end user, the global market has been segmented into home care settings, dermatology clinics, and others. The ‘others’ segment includes workplace and salons. The homecare settings have the largest market coverage.  

Light Therapy Market Regional Analysis: 

North America would lead the global market from the front as the awareness regarding such therapies is high, and investment capacity for research works are also substantial. The US and Canada will take control of the global market.  

Competitive Landscape: 

The global market for light therapy is getting impacted by companies like Northern Light Technology (Canada), Chal-Tec GmbH (Germany), Lucimed SA (Belgium), Koninklijke Philips (Netherlands), Zepter International (Switzerland), Beurer (Germany), BioPhotas (US), Verilux (US), and Nature Bright (Taiwan), Lumie (UK).

Light Therapy Industry News: 

In May 2020, a research paper published in Scientific Reports claimed that bright light therapy is helping patients with Parkinson’s disease in improving their sleep. The disease affects the body clock significantly. The therapy helps in bringing a semblance in that and boost the sleeping pattern. The exact nature of impact is still a matter of discussion and also the reason behind the efficacy. However, researchers believe that it has several things to do with the circadian rhythm.  

In May 2020, the United States Food and Drug Administration (FDA) revealed that they had granted the designation of the breakthrough device to PhotoPharmics‘s light-based, at-home device that can work as an add-on therapy for Parkinson’s disease. This special status provides the company with a prioritized review of approval requests. The device is expected to boost the patient’s circadian rhythm to help maintain the sleep cycle and improve the metabolism rate. 

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Detail Study on Spectral Computed Tomography Market is Projected to Grow Magnificent CAGR till 2025

 Market Highlights

The GlobalSpectral Computed Tomography Market share is expected to register a CAGR of 5.8% during the forecast period with a market value of USD 969.6 Million till 2025. Spectral computed tomography (CT) also known as dual-energy CT (DECT) is an advanced form of computed tomography widely used in x-ray scanning technique. Spectral computed tomography is an advanced medical imaging device, which helps in the differentiation and characterization of tissues through the high quality of X-ray images. Spectral computed tomography (CT) contains two different energy spectra to provide concise images on the basis of material density.

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The major key factors driving the market growth are increasing spending on the healthcare IT sector, technological advancements in the diagnostics sector, and increasing demand for diagnostic devices for precise imaging enhances the market growth. Also, the growing prevalence of cardiovascular and neurological diseases across the globe increase the demand for spectral computed tomography (CT) devices. However, factors such as high cost compared to conventional CT scan machines, availability of alternatives CT scan devices, and the less awareness about the products among the radiologists may hamper the market growth. 

Segment Analysis

The global spectral computed tomography market is segmented into application and end user. On the basis of application, the global spectral computed tomography market has been segmented into oncology, cardiology, musculoskeletal disorders, and gastrointestinal diseases. Based on end user, the market has been segmented into diagnostic centers and hospitals & clinics.

Regional Analysis

The global spectral computed tomography market, based on region, is divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Asia-Pacific is expected to hold the largest share of the global spectral computed tomography market. This is owing to the increasing patient population suffering from cancer and cardiovascular diseases and growing geriatric population suffering from numerous diseases are boosting the market growth in this region.

The Americas market holds the second-largest position in the global spectral computed tomography market owing to the increasing healthcare expenditure, and the presence of large number of medical devices companies in this region.

Europe is the third-largest region in the global spectral CT market. Factors such as growth in the medical device industry, the presence of developed economies, high per capita disposable income, and increased healthcare spending by consumers are driving the growth of the market in this region.

The spectral computed tomography market in the Middle East & Africa accounts the least market share due to the adequate healthcare infrastructure support accounted for a relatively smaller market share in 2018.

Market Players

MRFR recognizes the following companies as the key players in the global spectral computed tomography market— General Electric Company (US), Koninklijke Philips N.V. (Amsterdam, Netherlands), MARS Bioimaging Ltd (Christchurch, New Zealand), Neusoft Corporation (China), Shenzhen Anke High-tech Co., Ltd (China), Siemens (UK), and PerkinElmer Inc. (Waltham, Massachusetts).

Key Findings of the Study

• The Global Spectral Computed Tomography Market was valued at USD 655.89 million in 2018, is estimated to grow at USD 969.6 million by 2025 at a CAGR of 5.8% during the assessment period
• Asia-Pacific accounted for the largest share of the global market due to the presence of key market players and an increasing patient population in Japan, China, and India.
• Based on application, the oncology segment accounted for the largest market share in 2018
• On the basis of the end user, the diagnostic centers dominated the market and accounted for a share of 3 million in 2018

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Active Pharmaceutical Ingredients Market to Perceive Momentous Accruals with a hefty CAGR By 2023

 Active Pharmaceutical Ingredients Market Overview

The global active pharmaceutical ingredients market is witnessing a massive rise amid COVID 19 outbreak. The spread of coronavirus has placed unprecedented pressure on countries across the globe. Active pharmaceutical ingredients (API) are the main ingredient in a number of drugs that are intended for the treatment of COVID 19. Resultantly the API market is garnering exponential traction and attention worldwide.

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According to Market Research Future (MRFR), the global active pharmaceutical ingredients market is projected to reach USD 215,125.4 MN by 2023, registering 4.96% CAGR over the review period (2018-2023). Besides, factors such as the increasing occurrences of myriads of chronic diseases and growth in abbreviated new drug applications (ANDA), push the growth of the API market globally.

The rising acceptance & uptake of biopharmaceuticals, alongside the growing importance of generics across the globe, drive the market growth, excellently. Moreover, the increasing numbers of healthcare infrastructure, including hospitals & clinics, are expected to foster market growth. Additionally, factors such as the growing healthcare expenditures and the increase in the global population & economy positively impact the growth of the API market.

Conversely, adverse effects associated with API and the availability of substitutes are the major factors anticipated to restrain the growth of the market. Also, factors such as the stringent regulatory and drug price control policies in various countries are to hamper the growth of the market. In addition, the shortage of particular APIs required in human drugs indicated for coronavirus treatment is posing challenges to market growth.

Global Active Pharmaceutical Ingredients Market – Segments

The report is segmented into six dynamics;

By Manufacturing Process: Captive Manufacturing, Contract Manufacturing, and others.

By Type of Synthesis: Synthetic, Biotech, and others.

By API Formulation: Generic API, Branded/ Innovative API, and others.

By Application: Oncology, Cardiovascular Disease, Neurological Disorders, Orthopedic Disorders, Respiratory, Gastrointestinal Disorders, Urology, and others.

By Molecule: Large Molecule, Small Molecule, and others.

By Regions: Americas, Europe, Asia Pacific, and the rest-of-the-world.

Global Active Pharmaceutical Ingredients Market – Geographical Analysis

North America leads the global active pharmaceutical ingredients market. The region’s largest market share attributes to the rising prevalence of myriads of chronic diseases such as cardiovascular & neurological diseases and orthopedic, respiratory, and gastrointestinal disorders. Besides, the increasing advances in diagnostics techniques and medical & drug development technologies drive regional market growth. Moreover, the rising advances in diagnostics techniques and medical & drug development technologies drive regional market growth.

Also, the presence of notable players and rising numbers of Pharma companies that emphasize on delivering cost-effective product range fosters the growth of the regional market. The North American active pharmaceutical ingredients market is estimated to retain its leading position in the global API market throughout the forecast period.

Europe stands second in the global active pharmaceutical ingredients market. Market growth attributes to factors such as the presence of a large number of CMOs involved in the manufacturing of APIs and the growing need to develop generic drugs. Moreover, the proliferating healthcare industry and pharmaceutical sector in the region boost the growth of the market.

Moreover, increasing incidences of cardiovascular disease and neurological disorders drive the growth of the regional market excellently. The European active pharmaceutical ingredients market value is estimated to escalate exponentially during the assessment period.

The active pharmaceutical ingredients market in the Asia Pacific region is growing continually. Factors such as rising numbers of pharmaceutical & biotechnology companies and a large patient population drive the API market in the region. Additionally, some of the rapidly developing economies such as China, India, and South Korea, which are becoming hubs for the outsourcing of drug manufacturing, impact the market growth positively.

Moreover, constant economic growth in the region influences the growth of the market. The APAC active pharmaceutical ingredients market is expected to register a modest CAGR during the review period (2018 to 2023). Moreover, constant economic growth in the region influences the growth of the market. The APAC active pharmaceutical ingredients market is expected to register a modest CAGR during the review period (2018 to 2023).

Global Active Pharmaceutical Ingredients Market – Competitive Landscape

Highly competitive, the active pharmaceutical ingredients market appears fragmented due to the presence of many well-established players. Companies build additional capacities to develop their APIs at the in-house R&D Centre and to commercialize their portfolio. Focusing on new molecules and patented processes, industry players look forward to making more RD investments.

Active Pharmaceutical Ingredients Market Major Players:

Players leading the global active pharmaceutical ingredients market include F. Hoffmann-La Roche Ltd (Switzerland), Sanofi SA (France), Pfizer Inc. (US), Bayer AG(UK), Abbott (US), Merck & Co., Inc (US), GlaxoSmithKline Plc (UK), Boehringer Ingelheim GmbH (UK), Novartis AG (UK), Teva Pharmaceutical Industries Ltd (Israel), and Eli Lilly and Company (US), among others.

Active Pharmaceutical Ingredients Industry/ Innovation/ Related News:

May 06, 2020 —- The Indian government agreed to supply Europe with around 1,000 tonnes of the active pharmaceutical ingredient (API) for the making of the common pain reliever paracetamol to cope with COVID-19 symptoms. COVID-19 has accounted for 57% of the global death toll in Europe. Europe sought up to 800 tonnes of paracetamol APIs every month.

The European government has asked drugmakers to ensure the stock of up to four months of domestic requirements. In March, the Indian government had put a hold on exports of several drugs including paracetamol, to secure supplies for its people. However, the country has eased the export controls on over-the-counter medicines used for the coronavirus treatment after seeing that the disrupted supply chain of the industry globally.

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Global Skin Tightening Market Research Report 2020 Analysis and Forecast to 2025

 Market Highlights

The Global Skin Tightening Market is forecasted to be valued at USD 6,340.99 Million by 2025 with the CAGR of 6.2% during the forecast period of 2019–2025.

According to International Society of Aesthetic Plastic Surgery (ISAPS), in 2016, estimated the total procedure for skin tightening performed worldwide are 511,481 out of which Japan held the highest number of procedures followed by the US.  The factors that propel the growth of the market are growing geriatric population, increasing advancement in medical technology and the emerging medical aesthetic market.

However, the radiation emitted from skin tightening equipment involve high health-related risk and the stringent government regulations for aesthetic in healthcare is hampering the growth of the skin tightening market.  

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In the current scenario, several players are dominating the global skin tightening market. The market leaders in skin tightening treatment are involved in merger and acquisition, product development and innovation to increase the foothold in the skin tightening market. For instance, in January 2017, Lynton Lasers launched a stand-alone platform, LUMINA laser & IPL platform, which can perform 24 different aesthetic concern including skin tightening.

Regional Analysis

The global skin tightening market, by region, is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The skin tightening market in the Americas is estimated to hold the largest market share. In 2016, according to ISAPS, the total number of skin tightening procedure performed are 75,834. The European skin tightening market has been sub-divided into Western Europe and Eastern Europe. Germany is expected to hold the largest market share in the European region followed by Italy.  

The skin tightening market in Asia-Pacific region is expected to be the fastest-growing market, due to increasing research and development funding by the developing countries like China and India for the development of the healthcare sector. The skin tightening market in the Middle East & Africa region has less economic developments and extremely low-income, therefore anticipated to have the least market share but is expected to grow with better opportunities in the coming years.

Segmental Analysis

The global skin tightening market has been segmented based on type, portability, application, end user, and region.

The market, based on type, has been divided into radiofrequency skin tightening, laser skin tightening, ultrasound skin tightening, and others. The radiofrequency skin tightening segment is anticipated to hold the largest share in the market due to the wider preferability and long-lasting results.

The market, based on portability, has been segregated into portable and stand-alone. The stand-alone market is expected to hold the largest share in the market, owing to its increasing application in the medical devices industry.

The market, by application, has been categorized as reduce wrinkles, face lifting, anti-aging, and others. The anti-aging segment is expected to lead the market owing to the increasing focus and concern toward having a youthful appearance.

The market, by end user, has been classified as hospitals & clinics, specialty center, and others. The specialty center segment is anticipated to hold a major share in the market due to the professional skin tightening treatments provided in these establishments.

Key Players

Some of the key players in the global skin tightening market are  ALLERGAN (US), Solta Medical (US), Venus Concept (Canada), SmarterSkin Dermatology (US), INMODE (US), Fotona d.o.o. (Slovenia), BTL (US), Lynton Lasers (UK), EINS MED Co., Ltd (South Korea), ENDYMED MEDICAL (US), and Alma Lasers (Israel). 

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Durable Medical Equipment Market - Factors Driving Growth Post 2023

 Market Scenario

The global durable medical equipment market is expected to grow significantly over the forecast period. It is anticipated that the market held a market value of USD 1,08,553.8 million in 2018 and is projected to grow at 6% CAGR over the forecast period.

Medical equipment can be classified into two types disposable medical equipment and durable medical equipment. Durable medical equipment is reusable and can be used for the long run. The medical devices such as insulin pump, ostomy bags, and hospital furniture are considered under durable medical equipment and are used for years.

The growing geriatric patient population, rising demand for medical equipment, and growing technological innovation in the medical devices industry are boosting the market growth. Additionally, the medical coverage provided for medical equipment drives market growth. The different private insurance companies provide insurance coverage for medical equipment drives market growth.

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However, the high maintenance and equipment cost, stringent government regulation, and lack of skilled professionals to handle this equipment can hamper the market growth over the forecast period. 

Segmentation

The global durable medical equipment market analysis gives segmentation into device type and end user.

The global market, based on device type, has been segmented into personal mobility devices, medical furniture, monitoring and therapeutic devices, and bathroom safety devices. The personal mobility devices segment has been sub-segmented into wheelchair, crutch and cane, walker and rollators, and other personal mobility devices. The medical furniture segment is sub-segmented into medical bed and mattress, lift chairs, stretchers, and others. The monitoring and therapeutic devices segment is sub-segmented into blood glucose monitor, oxygen equipment, vital sign monitor, continuous passive motion (CPM), infusion pump, traction equipment, ostomy bags and accessories, cardiology devices, orthopedic braces and support, diabetic supplies, and others. The bathroom safety devices segment has been sub-segmented into commode, toilet, and others.

The global market, by end user, has been segmented into hospital/clinic, ambulatory surgical center, research centers, home healthcare, and others.

The durable medical equipment market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The durable medical equipment market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada. The increasing patient population, presence of a large number of medical device companies, and rising demand for innovative medical equipment drive the market growth in this region.

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

The Asia-Pacific durable medical equipment market has been segmented into Japan, China, India, Latin Korea, Australia, and the rest of Asia-Pacific.

The durable medical equipment market in the Middle East & Africa has been segmented into the Middle East and Africa. There is an increase in the market growth in this region due to the increasing development in healthcare infrastructure and growing economy in countries such as Kuwait, Iran, Israel, and Iraq.  

Key Players

Compass Health Brand (US), GE Healthcare (US), Getinge AB (US), GF Health Products Inc. (US), Invacare Corporation (US), Medtronic Inc. (Ireland), Sunrise Medical (UK), Koninklijke Philips NV (UK), Medline Industries Inc. (US), Masimo (US), ArjoHuntleigh (UK), Hill-Rom (US), Stryker (US) and Medical Device Depot, Inc. (US) are some of the key players in the global durable medical equipment market. 

Regional Market Summary

Geographically, the market has been segmented, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is anticipated to dominate the global durable medical equipment market owing to a well-developed healthcare sector, the presence of a large number of medical device companies in this region boosts the market growth. Additionally, the presence of a large number of patient population suffering from chronic disorders and the rising demand for technologically advanced products is the key factor attributing to the growth of this region.  

Europe is expected to hold the second-largest position in the global durable medical equipment market. The increasing technological advancement in the healthcare industry, growing mergers & acquisition, and presence of a large number of healthcare organizations drives the market growth in this region. For instance, Alabama Durable Medical Equipment Association (ADMEA) is a Europe-based non-profit organization involved in providing home medical equipment in the region. Thus, such organizations drive market growth during the forecasted period.

Asia-Pacific is expected to be fastest-growing region owing to the huge patient pool suffering from chronic diseases such as diabetes, cancer, arthritis, asthma, and many more diseases. Additionally, the increasing geriatric population drives the growth of this market. According to a fact sheet published by the World Health Organization in February 2018, it was reported that in 2015, 12% of the world’s population was over 60 years and estimated that it will increase to 22% by 2050. The growing geriatric population across the world is expected to increase the burden of the patient population and ultimately drives the demand for medical equipment.

The Middle East & Africa holds the least share of the market. Majority of the market of this region is expected to be held by the Middle East region due to its well-developed healthcare sector and growing government initiatives for the development of the healthcare sector.

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Future Growth of Molecular Diagnostics Market is Expected to Grow Healthy CAGR till 2023

 Molecular Diagnostics Market Insight

Molecular diagnostic techniques are used to analyze biological markers in the genome and proteome. These tests help in diagnosing diseases, their root cause, and determining therapies to be administered in the treatment. The molecular diagnostic market has been witnessing an enormous growth over the past few years. The growth attributes to the rising demand for improved diagnostic procedures to control the prevalence of myriads of chronic diseases and infectious disease growing at an alarming rate.

Besides, increasing awareness regarding the benefits of these techniques and technological advancements are boosting the market growth, increasing the uptake of molecular diagnostic methods. According to Market Research Future (MRFR), the global molecular diagnostics market is estimated to reach USD 16,319.09 MN by 2025, registering 8.57% CAGR during the assessment period (2019-2025). Rise in incidences of different types of cancer and increasing cancer researches are the major growth propellers of the market.

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Recent COVID 19 outbreak has impacted the global molecular diagnostics industry phenomenally. Countries with high rates of coronavirus testing, such as China, Germany, and South Korea, are leading the pack in getting molecular-based testing ready for the market. Diagnostic technology companies are increasingly teaming with electrochemistry, molecular biology, and microfluidics for the development of hand-held portable devices that can leverage molecular diagnostics for this infectious disease – COVID 19.

Additionally, many diagnostic companies are focusing on the development of connected, portable lab to provide on-site care, including molecular diagnostic tests. They are making substantial investments targeting the development of a portable point-of-care COVID-19 test. On the other hand, stringent regulatory policies are significant factors projected to pose challenges in the growth of the market. Nevertheless, increasing emphasis on diagnostic companies would support the market growth during the estimated period.

Impact of COVID-19 on the Global Molecular Diagnostics Market 

The spread of COVID-19 worldwide has dramatically increased the number of suspected cases and the geographic areas where laboratory testing must be implemented and intensified. The molecular testing for COVID-19 has led to shortages of molecular testing reagents worldwide for COVID-19. Beyond supply issues, there are limitations of absorption capacity in several regions, especially in low- and middle-income countries.  

Testing remains a crucial step to control the rapid spread of the virus. With an increasing number of cases, governments across the world are exploring the opportunities of allowing private laboratories to ramp up testing. The wide availability of diagnostics will be required for the immediate detection of COVID-19 cases. The World Health Organization (WHO) has developed testing strategy recommendations as a part of the strategic preparedness and response plan. The foundation of this strategy includes:

• Testing in regions with community transmission and in settings where the testing capacity cannot meet needs must be prioritized. It should focus on the early detection and protection of vulnerable patients and healthcare workers.
• Focused testing in healthcare facilities helps ensure that infection prevention and control measures are effectively implemented so that vulnerable patients who do not have COVID-19 are safeguarded from nosocomial COVID-19 infection.
• Testing among vulnerable populations and risk groups will be important for early treatment to minimize progression to severe disease.

Currently Available Testing Kits: Molecular assays and immunoassays are the most widely adopted diagnostics tests for COVID-19.  Furthermore, digital solutions are being developed to monitor and track the development of COVID-19. For instance, InferRead CT Pneumonia is being developed by Beijing-based Infervision Technology, which detects lesions from symptoms of pneumonia. Breath biomarkers that can detect and track the virus are currently being developed.

Global Molecular Diagnostics Market – Segments

The report is segmented into five dynamics;

By Product: Reagents & Kits, Instruments, Services & Software, and others.

By Technique: Polymerase Chain Reaction (PCR), Isothermal Amplification, Hybridization, Sequencing, Microarray, and others. 

By Application: Infectious Diseases, Oncology, Genetic Tests, and others.

By End User: Hospitals & Clinics, Diagnostic Laboratories, and others.

By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.

Molecular Diagnostics Market – Regional Analysis

North America leads the global molecular diagnostics market. The largest market share attributes to the rising prevalence of chronic diseases and growing demand for innovative diagnostics in the region. Also, the presence of key industry players and increasing numbers of pharmaceutical and biotechnology companies in the region boost market growth. The availability of advanced healthcare facilities and high per capita healthcare expenses in the region impact the growth of the market phenomenally. The North American molecular diagnostics market is estimated to retain its dominance over the global market throughout the forecast period.

Europe stands second in the global molecular diagnostics market. The market is majorly driven by the availability of R&D funds and rising support from the government for the development of the life science sector. Besides, the increasing geriatric population, alongside the growing occurrences of chronic diseases in the region, creates a huge demand for effective diagnosis procedures. The European molecular diagnostics market is projected to create a substantial revenue pocket during the review period.

The Asia Pacific molecular diagnostics market share has emerged as a rapidly growing market globally. Factors such as the large population base and growing biotechnology companies in the region push the growth of the market. Also, the burgeoning pharmaceutical industry in the region supports market growth exponentially.

China, Japan, and India dominate the Asia Pacific market owing to the growing economy and manufacturing activities in the molecular diagnostic field. Moreover, the rapidly growing medical devices sector in these countries provides further impetus to the regional market growth. The APAC molecular diagnostics market is expected to grow at a significant CAGR during the forecast period.

Global Molecular Diagnostics Market – Competitive Landscape

Highly competitive, the molecular diagnostics market appears fragmented due to the presence of many large and small players. Industry players are facing extreme pricing pressures, especially in the low-end market. Companies in the high-end market are pursuing collaboration and partnerships with other players to innovate new products. 

They are employing a variety of distributions channels. The development of the online healthcare eCommerce market is another channel being increasingly used for expanding reach with minimum costs. Outsourcing to the cost-competitive manufacturer in China and other developing nations is another strategy being pursued by players.

Molecular Diagnostics Market Major Players:

Players leading the global molecular diagnostics market include Hologic, Inc., F.Hoffmann-La Roche Ltd., QIAGEN, Abbott Laboratories, Becton, Dickinson and Company, Cepheid, Thermo Fisher Scientific, Siemens, and Agilent Technologies, among others.

Molecular Diagnostics Industry/ Innovation/ Related News:

May 19, 2020 —- Bosch Healthcare Solutions (Germany) and BioGX (the US), announced their partnership for point of care molecular tests to expand molecular diagnostic tests offering for the Vivalytic platform. This partnership would accelerate the planned expansion of the test portfolio for the Vivalytic all-in-one platform. 

Bosch Healthcare Solutions offers innovative diagnostic solutions in the healthcare and medical technology sectors. BioGX develops innovative molecular reagents for DNA-/RNA-based tests and provides partner-specified formulation and manufacturing services for molecular reagents platforms.

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Lancet Market Estimated to Witness a Staggering Growth by 2024

 Globally, lancets are being utilized by patients who are affected by endocrine related complications, cardiovascular issues, and many others. Lancets are being used for diabetes/glucose test, tests in infants, heel-stick screening tests, as well as for scarred emergency patients or severely burned patients. The global lancet market is growing at an exponential rate and it is expected to grow at a CAGR of 11.3% during 2016 to 2022.

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The increasing prevalence of diabetes and growing incidence number of contagious and non-contagious diseases has been the major factor for influencing the growth of the market. Incidence of contagious diseases is increasing rapidly on a global level. According to the WHO, it has been calculated that, infectious diseases like plaque which is also known as black death has an estimated 50 million deaths in the 14th century, this infectious disease can be a serious disease if not treated, this disease has a case fatality ratio of around 30%-60%, as of 2013 there were 783 cases worldwide which includes 126 deaths.

The global lancet market appears to be oligopolistic owing to the presence of large players active in the regional market. The market is also characterized by a reasonable degree of brand loyalty where establishing a brand name is difficult for newcomers. However, the cost involved in manufacturing setup is low to medium which discreetly comfort the new entrants to enter in the market easily.  Developments in the medical device industry are made to simplify the diagnosis, prevention, and treatment of various diseases. One of such device is lancet, which is capturing a huge market share due to its application. Safety lancets and personal lancets being the two major types of the lancets are dominating the global lancet market.

Industry Updates

June, 2016: F. Hoffmann-La Roche AG received European approval of Avastin Drug in combination with Tarceva for cancer patients with a specific type advance lung cancer.

January, 2016: Catalent Inc., a company involved in biologics announced its research collaboration with Roche on Smartag(TM) technology. Catalent claims Roche will pay Catalent an up-front fee of $1 million. Roche to provide additional research funding during the initial phase of the collaboration between these two companies. 

October, 2015: BD announced the acquisition of GenCellBio systems, an Irish biotech company that has developed proprietary technologies that address key biological analysis protocols, for an undisclosed consideration. The acquisition is expected to improve the BD’s Next Generation Sequencing line of products. 

August, 2015: Roche Holding AG acquired GeneWEAVE to strengthen offerings in microbiology diagnostics. Roche will pay GeneWEAVE shareholdsers $190 million upfront and up to $235 million in contingent product related milestones.

March, 2015: BD completed the acquisition of CareFusion Corporation (CareFusion) for $12.2 billion. CareFusion will operate as a wholly-owned subsidiary of BD. The acquisition is intended to enhance the medication management and patient safety solutions provided by BD. 

March, 2015: BD announced the acquisition of CRISI Medical Systems, a medical technology company focused on providing safety and delivery of IV injectable medications. The acquisition will strengthen BD’s position in addressing preventable medication errors and improve care delivery efficiencies. 

Global Lancets Market – Regional Analysis

The oligopolistic nature of the market with North America at its prime holding the largest regional share. The factors contributing to this major share include the well-established healthcare infrastructure and the high income generating end users. As of now the medical device industry is majorly established in the U.S. and Europe. But trends are showing enormous growth opportunity in Asia, wherein China will play a prominent role in both usage and development of medical devices.

Moreover, in terms of volume; manufacturers from China are anticipated to capture a large portion of the market, companies such as Guangzhou IMPROVE MEDICAL Technology Co. Ltd, SteriLance Medical (Suzhou) Inc., and others are contributing to this major portion. These companies have established their manufacturing unit worldwide.

Global Lancets Market – Competitive Analysis

Many key players involved in this market are keen in introducing new advanced safety lancets for the treatment of various contagious diseases. HTL-STREFA S.A. accounted for major market share of global lancet market, with more than 35% of market share. The large share of the company is attributed to the high demand for safety lancet globally. Moreover, this company has a strong sales and distribution network and this company also provides after sales services and help which play a major role in the satisfaction of the customers. F. Hoffmann-La Roche AG accounts for approximately 22% which can be attributed to their product the ACCU-CHEK which is one of the safety lancets having high demand in the market.

The major players in the market which have global operations of the Lancet market, and are consistently working for the development of the following technology are F. Hoffmann-La Roche AG, Becton, Dickinson and Company, Greiner Bio One International GmbH, Improve Medical Technology Co. Ltd, Terumo Medical Corporation, Bayer Cropscience Limited, HTL-STREFA S.A, Sarstedt AG & Co and others.

FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/lancet-market-2078