Clinical Laboratory Test Market 2020 - Opportunity, Driving Trends And Deep Study 2023

 The Global Clinical Laboratory Test Market is expected to register 6.5% CAGR to reach USD 324508.8 Million by 2022.

Clinical laboratory testing has emerged as a rapidly growing segment in healthcare over the past few years. Clinical laboratory testing includes all routine check-ups and other pathology tests for the diagnosis of various diseases ranging from CBC and other routine blood tests to anatomical, pathological testing, molecular, immunological, drug testing, and other tests for disease diagnosis and treatment.

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CBC and other routine blood tests are the most common type of tests that are used for screening certain disorders leading to an increase or decrease of cell counts. These tests help to diagnose a broad range of conditions from anemia and infections to cancer. Increasing prevalence of diseases and growing awareness and concerns regarding health issues all around the globe are the primary reasons for the growth of these routine check-ups and overall clinical laboratory testing market. On the other hand, the major factor restricting the growth of market is the strict government rules and regulations regarding laboratory testing. The global market has significant growth opportunities due to the various untapped therapeutic testing markets.

Market Dynamics

The global clinical laboratories market is segmented by routine medical testing includes full-body testing includes eye check-up, blood test, diabetes testing, and others; anatomical pathology testing includes histological analysis and urinalysis; esoteric medical testing includes tests for infrequent diseases; diagnostic imaging testing includes radiation procedures such as X-ray, CT, MRI, and ultrasound used for diagnosing the patient’s condition through imaging of internal organs.

Currently, around 617 million people, which is approximately 8.5% of people worldwide are aged 65 and over. According to the report “An Aging World: 2015,”, this percentage is expected to jump to nearly 17% by 2050 (1.6 billion). This is the primary reason for the swift growth of clinical laboratories. Besides these, other factors responsible for driving the clinical laboratory market are physician contribution to improve laboratory testing by counseling the patient for a screening of uncertain diseases or symptoms.

Segmentation

The global clinical laboratory tests market is segmented into types of laboratories, types of test, and region. Based on types of laboratories, the global clinical laboratory tests market is segmented into hospital-based laboratories, central/independent laboratories, physician office-based laboratories, and others. Based on types of test, the global market is segmented into complete blood count (CBC), basic metabolic panel (BMP), HbA1c tests, HGB/HCT tests, comprehensive metabolic panel tests, BUN creatinine tests, renal panel tests, electrolytes testing, liver panel tests, and lipid panel tests. Based on application, the global market is segmented into parasitology, virology, hematology, toxicology, immunology/serology, histopathology, and urinalysis. Based on end user, the global market is segmented into hospital-based laboratories, stand-alone laboratories, and clinics-based laboratories.

Regional Analysis

The clinical laboratory market is witnessing significant growth in developing and developed countries such as the UK, the US, China, India, and Spain.

The global clinical laboratory test market, based on region, is segmented into North America, Europe, Asia-Pacific, and the Middle East & Africa. There is a widespread presence of diseases related to hypertension, cardiovascular diseases, cancer, stroke, and other fatal diseases, due to which the expenditure on healthcare and R&D is the highest in North America, followed by Europe. The use of clinical laboratories by research institutes, hospitals, and clinics have increased the demand for clinical laboratories across the world. Asia-Pacific is the fastest-growing market in clinical laboratory tests due to the large geriatric population in China and Japan.

Key Players

The prominent players in the global clinical laboratory test market are AURORA Diagnostics, Laboratory Corporation of America, LifeLabs Medical Laboratories, Quest Diagnostics, and Sonic Healthcare.

The players operating in the global clinical laboratory test market are focusing on product launches and expanding their global footprints by entering untapped markets.   

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Stroke Post Processing Software Market 2020–By Identifying The Key Market Segments And Key Players Holding Market Share

 

Market Overview

Stroke Post Processing Software Market is projected to list a CAGR of 6.48% to influence income generation of USD 1,294.24 Million by 2024. A stroke can be defined as the absence of blood flow to brain tissues, resulting in vascular assembly within the brain. Furthermore, increasing awareness regarding the benefit of stroke post-processing software in individuals and healthcare professionals would create more demand for these products, boosting the global stroke post-processing software market’s growth.

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Market Highlights

The Global Stroke Post Processing Software Market is expected to register a CAGR of 6.48% during the forecast period, with a market value of USD 898.87 Million in 2018. A stroke can be defined as the lack of blood flow to brain tissues and can occur in any vascular structure within the brain.

The collaborations between start-up companies & big market players in the industry, increasing burden of ischemic strokes, and growth in the geriatric population are likely to contribute to the growth of the market during the assessment period. For instance, in January 2019, iSchemaView and NeuroLogica, a subsidiary of Samsung Electronics Co., Ltd and leader in medical imaging technology, collaborated to integrate iSchemaView’s RAPID cerebrovascular imaging platform with NeuroLogica’s portable CereTom CT scanners for use in MSUs and ICUs across the globe. However, stringent regulatory policies is likely to restrain the market growth during the forecast period.

Segment Analysis

The global stroke post processing software market, by installation, has been segmented into the desktop, mobile phones, and tablets. By modality, the market has been segregated into CT Scan and MRI. Based on type, the market has been divided into the ischemic stroke, hemorrhagic stroke, and others. On the basis of the end user, the global stroke post processing software market has been classified as hospitals & clinics, specialty centers, and others. The hospitals and clinics segment accounted for a value of USD 479.89 million in 2018.

Regional Analysis

Geographically, the global stroke post processing software market has been categorized as Europe, the Americas, Asia-Pacific, and the Middle East & Africa. Europe is expected to hold the largest share of the global stroke post processing software market. This is due to the presence of a well-developed healthcare infrastructure. Moreover, European companies offering stroke post processing software are getting involved in collaborations, mergers, and product launches to gain substantial market share, which in turn is positively affecting market growth. Americas showed a considerable amount of growth in the market due to the presence of an established healthcare system and two major stroke post processing software companies in the US, namely Viz.ai, Inc. and iSchemaView, Inc. Asia-Pacific is estimated to be the fastest-growing region in the global market due to the presence of some rapidly developing economies. Also, the availability of scientific expertise in Asia-Pacific is likely to contribute to market growth. The large patient pool for heart diseases in Asia-Pacific creates additional opportunities for market growth. Japan held a share of 28.5% in the Asia-Pacific stroke post processing software market in 2018. Also, the market in the Middle East & Africa is expected to demonstrate slow growth.

Market Players

Market Research Future (MRFR) recognizes the following companies as key players in the global stroke post processing software market that include Brainomix (UK), Viz.ai, Inc. (US), iSchemaView, Inc. (US), General Electric Company (US), Koninklijke Philips NV (Netherlands), and Siemens (Germany).

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Articaine Hydrochloride Market In Depth Study And Analysis Published, 2023

 The Global Articaine Hydrochloride Market is expected to register 8.5% CAGR and is anticipated to reach USD 1,889.0 million by 2025. 

Articaine is a form of a local amide anesthetic that is most commonly used in dentistry. The articaine is marketed as a colorless liquid in vials/cartridges (2ml in each vial/cartridge). It is available in two variants, i.e., Articaine-100 & Articaine-200. Articaine-200 is more potent than Articaine-100. The dosage can be based on the type and extent of surgical procedure, depth of anesthesia, degree of muscular relaxation, and condition of the patient. For pediatric patients, dosage based on their age, weight, the physical condition of the patient, and the extent of the surgical procedure.

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The articaine hydrochloride industry is growing rapidly. Articaine, with its greater ability to diffuse through tissues, become a very widely used local anesthetic in the European and Canadian markets.

Market Dynamics

Articaine hydrochloride is the most popular local anesthetic for dentistry. For example, in Germany, around 97% of the anesthetic used by dentists is articaine hydrochloride. The growth of the market is likely to be driven by increasing incidences of dental caries and other periodontal diseases, advancement in dental anesthesia delivery system device, increasing the use of articaine for dental surgery, innovative nature of the dental anesthetics industry, and vigorous research and development efforts. Periodontal disease is one of the major dental diseases that influence human populations worldwide at high prevalence rates. Periodontal diseases are more prevalent in Asia-Pacific. Lack of the most basic oral health education and limited availability of simple interventions like pain relief and emergency care for acute infection and trauma to the vast majority of the population, especially in the rural areas are major reasons for the high incidences of periodontal diseases in the region. According to the FDI World Dental Federation, more than 80% of people in Asia-Pacific, including countries such as India, Bangladesh, Nepal, Malaysia, and Indonesia, suffer from dental decay. Furthermore, 40–59% of the population in China and Australia suffer from dental caries.

Some of the popular local anesthesia other than articaine are prilocaine, lidocaine, mepivacaine, and bupivacaine. The availability and usage of alternative products are likely to thwart the growth of the articaine hydrochloride market during the forecast period.

Segmentation

The global articaine hydrochloride market has been segmented into application and end user.  Based on application, the global market has been segmented into infiltration, nerve block, and others. Based on end-user, the global market has been segmented into dental clinics, hospitals, and academics & research institutes. The dental clinics segment accounted for a market value of USD 798.5 million in 2018.

Key Players

The prominent players in the global articaine hydrochloride market are 3M (US), Anhui BBCA Pharmaceutical Co., Ltd. (China), Dentsply Sirona (US), Inibsa Dental S.L.U (Spain), Jinan Chenghui Shuangda Chemical Co., Ltd. (China), Jinan Ruixing Pharmaceutical Technology Co., Ltd (China), Manus Aktteva Biopharma LLP (India), Pfizer Inc. (US), Pierrel S.p.A (Italy), Sanofi (France), Septodont (France), Siegfried AG (Switzerland), and Sigma Aldrich (US).

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

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Sterilization Technology Market To Show Steady Growth, 2023

 Sterilization refers to a process that eliminates, or kills all pathogens using various technologies and methods that are applied for sterilization of equipment and medical devices in healthcare institutes. There is an increase in demand for sterilization technologies across the globe. Patient safety and the prevention of hospital-acquired infections being a significant concern have led to the rise in the demand for sterilization technologies in healthcare. The global sterilization technology market is expected to register a CAGR of 8.20% and is anticipated to reach USD 8,142.61 million by 2023. 

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Market Dynamics

Sterilization is the process that destroys or eliminates all forms of microbial life and is carried out in health-care facilities by physical or chemical methods. Sterilization technology includes processes such as gamma radiation, electron beam radiation, filtration, ionizing radiation, and thermal sterilization methods to destroy all microorganisms on the surface of an article or in a fluid to prevent disease transmission.

The sterilization technology market is driven by the increasing occurrences of hospital-acquired infections, increasing number of surgical procedures, growth in the pharmaceutical and biotechnology industries, and rising technological advancements in sterilization equipment. However, the stringent regulatory framework is expected to hamper the growth of the market during the forecast period.

Hospital-acquired infections are healthcare-associated infections that occur in patients under medical care who are not present or incubating at the time of admission. According to the World Health Organization, hundreds of millions of patients are affected by healthcare-associated infections (HAI) worldwide each year, leading to significant mortality and financial losses for health systems. Further, as per the European Centre for Disease Prevention and Control, approximately 30% of patients in Intensive Care Units (ICUs) are affected by at least one episode of healthcare-associated infection. Additionally, according to the World Health Organization (WHO), the prevalence of healthcare-associated infections varies between 5.7% and 19.1% in low- and middle-income countries. These increasing occurrences of HAIs have been leading to substantial financial losses for the overall healthcare system. This vast population affected with HAI are due to insufficient applications of standard and isolation precautions, whereas disinfection and sterilization ensure that medical and surgical instruments do not transmit infectious pathogens to patients. This considerable population affected with HAI and inversely rising need for sterilization are paving the way for a growth curve in the sterilization technology market

Segmentation

The global sterilization technology market has been segmented into type of sterilization, process, and end-user.

The global sterilization technology market based on the type of sterilization has been segmented into ethylene oxide, ionizing radiation (gamma radiation, electron beam radiation, and X-ray radiation), filtration, thermal sterilization, and others. Ethylene oxide takes accounted for 48.1% of market share, due to its high penetration, the strength of the radiation dose, and its exposure time. However, ionizing radiation is also likely to take up equal share due to significant health concerns related to the use of ethylene oxide.

The global sterilization technology, by the process, has been segregated into the chemical process (hydrogen peroxide, ozone, and chlorine dioxide), physicochemical (plasma and steam), synergetic processes (psoralens & UVA and low-temperature steam & formaldehyde), and physical processes (microwaves and pulsed light system). These processes use different compounds for sterilization of articles or surfaces.

Based on the end user, the market has been divided into the pharmaceutical industry, hospitals & clinics, and medical device manufacturers. Pharmaceutical industry dominates the global market for sterilization technology. It accounted for the largest market share of 38.4% and was valued at USD 1948.10 million in the year 2017 and is expected to reach USD 3163.60 million by 2023. Effective sterilization processes are vital within the pharmaceutical industries, and the safety of process units and final products depends on the highest quality of hygienic practice, as well as strict controls and regulatory compliance.

Key Players

The prominent players in the global sterilization technology market are Advanced Sterilization Products Services Inc., Atec Pharmatechnik GmbH, Sterile Technologies Inc., Steris PLC, 3M Company, Feldmeier Equipment Co., Donaldson Co. Inc., and Beta Star Life Science Equipment Inc.

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Nerve Stimulators Market In Depth Study And Analysis Published, 2023

 The Global Nerve Stimulators Market is expected to register a CAGR of 9.7% to reach USD 10,978.5 million till 2023. Nerve stimulation is a therapy that uses low-voltage electrical current for pain relief. The nerve stimulator used in nerve stimulation therapy is a bit like a heart pacemaker. In peripheral nerve and spinal cord stimulation, small pulse generator delivers electrical pulses to the nerves or the spinal cord. Nerve stimulator therapy has also proved as an efficient approach to get relief from neurological disorders. Among neurological disorders, nerve stimulation therapy is most commonly used for epilepsy and depression.

Rising incidence of chronic health problems, technological improvements, increasing geriatric population, and improved reimbursement policies in developed countries are expected to enhance the market growth. However, the lack of skilled or trained physicians and high cost of nerve stimulation therapy are projected to curb the growth of the market.

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Market Dynamics

Nerve stimulators have been gaining significance in recent years, owing to the increasing incidence of chronic health problems and increasing geriatric population. For instance, according to a study published in Pain Research and Management in 2017, the prevalence of chronic pain among Brazilian population was 39%, 31.7% in the French population, 48% in the UK, and 50% in the UK. Moreover, According to WHO, it is estimated that the world’s population aged 60 years and older will nearly double from 12% to 22% by 2050.

Segmentation

The global nerve stimulators market, by type, has been segmented into deep brain stimulator, a vagus nerve stimulator, and spinal cord stimulator. Based on applications, the nerve stimulators market has been classified as chronic pain, depression, dystonia, epilepsy, Parkinson’s disease, and others. Based on end user, the market has been classified as ambulatory surgical centers, hospital & clinics, trauma centers, and others.

Regional Analysis

The global nerve stimulators market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Americas is expected to hold the largest share of the global nerve stimulators market. North America is expected to dominate the market, mainly due to the increasing geriatric population. According to a study published in the Drug and Alcohol Dependence journal in 2017, more than 100 million adult Americans are living with chronic pain. Chronic low back pain and headaches are the most commonly diagnosed conditions. It is also stated that conditions are more prevalent in women than men, i.e., 34.3% in women, and 26.7% in men in the US.

Europe is expected to account for the second-largest market share during the forecast period. The factors responsible for market growth in this region are the presence of huge geriatric population and high healthcare spending.

Asia-Pacific is estimated to be the fastest-growing region in the global market due to the presence of a vast neurological disorder’s patient population, presence of tremendous opportunities for the development of the market drive the growth of the nerve stimulators market in Asia-Pacific. According to a study published in Neurology India journal in 2014, it is found that out of a total population of India, around 30 million people were suffering from neurological disorders in India.

The nerve stimulators market in the Middle East & Africa is expected to grow due to the presence of a well-developed healthcare sector.

Key Players

The prominent players in the global nerve stimulators market are Boston Scientific Corporation, Medtronic, Cochlear Ltd, St Jude Medical, Inc., Cyberonics, Inc., Aleva Neurotherapeutics SA, and NeuroPace, Inc.

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CBCT Dental Imaging Market In Depth Study And Analysis Published, 2023

 The Global CBCT Dental Imaging Market is expected to register a CAGR of 9.8%and is anticipated to reach USD 817.5 Million by 2023. Dental Cone Beam Computed Tomography (CBCT) is a distinctive type of x-ray machine used in circumstances where regular dental or facial x-rays are not enough. This type of computed tomography scanner uses a special type of technology to produce three dimensional (3D) images of oral structures, soft tissues, nerve paths and bone in the craniofacial region in a single scan.

The growing use of CBCT in orthodontic diagnosis and treatment, increasing the use of CBCT imaging in cosmetic dentistry treatments, and rising adoption of CBCT by the healthcare professionals are the major drivers propelling market growth. However, the lack of awareness for the use of advanced technologies and risk of ionizing radiations for children and teens may hinder the growth of the market.

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Market Dynamics

Many institutes are using CBCT imaging technology is coupled with 3D clinical photography and accurate predictive altering for the precise diagnosis, planning, and treatment of orthodontics, and facial deformities and dental and facial implant surgeries. Institutes such as Inland Institute Oral & Maxillofacial Surgery are using full-craniofacial cone-beam CT (computed tomography) technology for highly accurate 3D radiographic images which will help in diagnosing, and planning and treating oral and maxillofacial surgery. The increasing use of CBCT for oral and maxillofacial surgery is driving the market for global CBCT dental imaging market. Additionally, increasing the use of CBCT in orthodontic diagnosis and treatment and increasing adoption of CBCT by healthcare professionals is likely to support market growth. On the other hand, lack of awareness for the use of advanced technologies and risk of ionizing radiations for children and teens are anticipated to hamper the market growth.

Segmentation

The global CBCT dental imaging market has been segmented into type of detector, application, and end user. Based on detectors, the dental CBCT imaging market has been classified as flat panel detectors and image intensifiers. The global CBCT dental imaging market, by application, has been ranked as dental implants, orthodontics, endodontic, and others. By end user, the market has been categorized as hospitals and dental clinics, academic and research institutes, and others. The hospitals and dental clinics segment accounted for a market value of USD 262 million in 2015.  

Key Players

The prominent players in the global CBCT dental imaging market are Carestream Health (US), Dentsply Sirona (US), FONA Dental, SRO (Slovakia), Gendex (US), Imaging Sciences International, LLC (US), J.MORITA MFG. CORP. (Japan), KaVo Dental GmbH (Germany), New Tom (Italy), Planmeca OY (Finland), Prexion (US), Sinclair Dental/Dentaire (Canada), SOREDEX (Finland), and Vatech Networks (South Korea)

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

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Carotid Artery Disease Market In Depth Study And Analysis Published, 2023

 The Global Carotid Artery Disease Market is expected to register a CAGR of 4.1% to reach USD 11,621.6 million till 2023.

Market Dynamics

Carotid artery disease is a condition in which plaques are developed in the arteries that supply blood to the brain, which often lead to strokes. The prominent factors that drive the market growth are increasing geriatric population, increasing adoption of an unhealthy lifestyle, and the popularity of over-the-counter (OTD) drugs. However, the high cost of diagnostics and surgeries and stringent government regulations for the carotid artery disease are likely to restrain market growth over the forecast period.

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Carotid arteries are blood vessels in the neck that supply oxygen-rich blood to the brain. These vessels could get blocked by plaque, a fatty substance consisting of cholesterol, calcium, and other materials. Medication helps to reduce plaque build-up in carotid arteries and blood vessels throughout the body. Ardent efforts by manufacturers of therapeutic drugs for the treatment of carotid artery disease have aided the growth of the global carotid artery disease market. Medications often prescribed for carotid artery disease are antiplatelet medications, anticoagulant medications, tissue plasminogen activator (tPA). The most commonly used anti-platelet medication is aspirin. Other drugs include clopidogrel (Plavix) and dipyridamole (Persantine), which may be prescribed alone or in combination with aspirin to reduce the risk of stroke. This factor is expected to lead to the growth of the global carotid artery disease market and may even increase the revenue-generation ability of market players. The current first line of treatment for carotid artery disease includes anti-platelets medication and tissue plasminogen activator (tPA). The increasing demand for over-the-counter drugs by the patient population is boosting the growth of the market.

Segmentation

The global carotid artery disease market, diagnosis & treatment, has been segmented into diagnosis and treatment. Based on treatment, the market has been further divided into medications and surgical procedures. The medications segment has been sub-segmented into cholesterol-lowering statins, antiplatelet drugs, antihypertensive drugs. The surgical procedures segment has been further divided into carotid endarterectomy, carotid artery angioplasty & stenting, and carotid artery bypass.

Based on end user, the carotid artery disease market has been categorized as hospital & clinics, ambulatory surgical centers, pharmacies, and others.

Regional Analysis

The global carotid artery disease market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas accounted for the largest share in the global carotid artery disease market owing to the rising prevalence of chronic diseases, increasing levels of certain fats and cholesterol in the blood, and stringency of government regulations for drug development. According to the 2014 Surgeon General’s Report on smoking and health, it was estimated that 4,00,000 patients aged 70 years and older in the US suffered from asymptomatic carotid artery stenosis.

The European market was the second largest in 2017 in terms of market share. Factors such as growth in the biopharmaceutical sector, increasing government funding to promote research for the prevention of chronic diseases, the presence of developed economies, high per capita disposable incomes, and increased healthcare spending by consumers are driving the growth of the market in this region. According to the World Diabetes Foundation Organization, the number of people estimated to be suffering from diabetes in 2015 was 59.8 million. The increasing cases of diabetes are likely to drive the carotid artery disease market.

In 2017, Asia-Pacific was the third-largest in the global carotid artery disease market owing to a large number of research organizations, low manufacturing and labor cost, development of new infrastructure to support the healthcare industry, and increasing investments by major players. According to the India Brand Equity Foundation, India is becoming a leader in clinical trials, and contract research and manufacturing activities as the cost of drug production in the country are ~33% lower than that of the US. All these factors are likely to contribute to the fastest growth of the Asia-Pacific region during the forecast period.

Key Players

The prominent players in the global carotid artery disease market are W. L. Gore & Associates, Inc., Becton, Dickinson and Company, Terumo Corporation, Hitachi, Ltd, Silk Road Medical, Inc., Abbott, Medtronic, Stryker Corporation, Cardinal Health, and Boston Scientific Corporation.

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