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Friday, 12 February 2021

Sterilization Technology Market is Expected to Exhibit a Strong CAGR during forecast period upto 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 2020 Global Market Key Players, Analysis and Forecast to 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 to Perceive Momentous Accruals with a hefty CAGR By 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 to Witness an Outstanding Growth by 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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Drug of Abuse Testing Market is Expected to Exhibit a Strong CAGR during forecast period upto 2023

Drug of Abuse Testing Market is likely to register a CAGR of 7.77% and is projected to reach USD 6,673.3 Million by 2025. Drug of abuse testing is based on diagnosing drug addiction, also called substance use disorder, requiring a thorough evaluation and often includes an assessment by a psychiatrist, a psychologist, or a licensed alcohol and drug counselor. Blood, urine, or other lab tests are used to assess drug use, but they’re not a diagnostic test for addiction. These tests may be used for monitoring treatment.

Several factors such as increased use of drug testing at an organizational level, growing production and trade of illicit drugs worldwide, rise in road accidents and death rates, and the rise in the consumption of illegal drugs are driving the growth of the market. However, the inability of testing products to detect low-dose designer drugs, social issues associated with drug abuse testing, and legalization of drugs are a threat to the growth of the market.

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Market Dynamics

Drug testing in the workplace has traditionally been conducted using collection and analysis of urine. Urine as a specimen for drug testing allows for a long window of detection. Drug of abuse testing has been increasingly used by the American and European organizations at various levels like pre-employment screening, random drug/alcohol screening, post-incident drug or alcohol screening, and abstinence monitoring. Testing has become mandatory for multiple national and international organizations such as the International Olympic Committee (IOC), International Sports Federation (ISF) and National Olympic Committee, to stop drug abuse in sports. Thus, the market is projected to grow at a steady rate during the forecast period.

Segmentation

Based on the type of test, the global drug of abuse testing market has been segmented into onsite screening test and laboratory drug testing. The onsite screening test segment held a market share of 71.62% in 2018. Based on the sample, the global drug of abuse testing market has been segmented into by urine, saliva, hair, and others.

Key Players

The Major Players in the Global Drug Of Abuse Testing Market are Quest Diagnostics (US), Laboratory Corporation of America Holdings (LabCorp) (US), Abbott Laboratories (US), Randox laboratories (UK), Bio-Rad Laboratories, Inc. (the US), Sonic Healthcare (Australia), F. Hoffmann-La Roche Ltd (Switzerland), and Thermo Fisher Scientific, Inc. (US).

Some of the key strategies followed by the players operating in the global drug of abuse testing market were mergers, acquisitions, and new product launches.

Regional Analysis

The Global Drug of Abuse Testing Market, on the basis of region, is divided into North America, Europe, Asia-Pacific, and the rest of the world. The North American region is projected to dominate the global drug of abuse testing market. The growth is mainly attributable to the increasing use of illicit drugs in the region. In order to reduce the cases of drug abuse, the US government has been taking various initiatives like mandatory drug testing in multiple departments including defense, oil, and gas, mining and department of transportation (DOT). Drug testing has also been made a mandatory process in educational institutions.

The European market for drug of abuse testing is projected to be the second-largest during the forecast period. The broad market size of the region is a result of government initiatives to curb abuse and increasing alcohol-related accidents in the region, which leads to a greater emphasis on the use of testing equipment.

Asia-Pacific is the fastest-growing market for drug of abuse testing. This owes to the rise in alcohol consumption and strict government rules and regulations about testing drug consumption in the region.

The rest of the world is expected to grow at a steady rate due to the increasing awareness created by public and private organizations.

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MRSA Drugs Market to Perceive Momentous Accruals with a hefty CAGR By 2023

The Global MRSA Drugs Market is expected to register a CAGR of 4.4% to reach USD 4,312.2 million till 2023. Methicillin-resistant staphylococcus aureus (MRSA) is an infection caused by antibiotic-resistant strains of the pathogen. This infection is generally associated with invasive procedures such as surgeries, intravenous tubing, and sometimes through the skin to skin contact. MRSA drugs are used to kill or restrain methicillin-resistant staphylococcus aureus infection.

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The increase in the prevalence of MRSA infections and number of hospitals, growing awareness about a bacterial infection, and increase in immuno-compromised population are expected to enhance the market growth. However, the high cost of novel MRSA drugs and hospital readmissions reduction program is projected to curb the growth of the market.

Market Dynamics

MRSA drugs have been gaining significant growth in recent years owing to the rising awareness about MRSA infections. For instance, October is celebrated as world MRSA awareness month and November 18, is celebrated as antibiotic awareness day in Europe to raise awareness of antibiotic resistance and promote the judicious use of antibiotics. Thus, the growing awareness about the cause and treatment related to bacterial infection among the population led to an increased usage of MRSA drug market, which thereby provides a favorable scenario for the market to grow during the forecast period.

Segmentation

The global MRSA drugs market, by drug class, has been segmented into sulfa drugs, tetracyclines, oxazolidinones, folate antagonists, lipopeptide, glycopeptide antibiotics, and others. Based on MRSA types, the MRSA drugs market has been categorized as hospital-acquired (HA-MRSA) and community-acquired (CA-MRSA). By disease indication, the market is divided into skin infections, bone and joint infections, and bacteremia, and animal infections. Based on end user, the MRSA Drugs market has been categorized as hospitals and clinics, research and academic institutes, and others.

Regional Analysis

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

The Americas is expected to hold the largest share of the global MRSA drugs market. This is owing to the presence of key market players, well-developed healthcare infrastructure, in the US and Canada. Canada held 25% in North America MRSA Drugs market in 2016.

Europe holds the second position in global MRSA drugs market due to the increasing research & development in the healthcare industry, availability of funds for research, rising cases of bacterial infection, and increasing adoption of novel drugs for the treatment of MRSA.

Asia-Pacific is projected to be the fastest-growing region in the global market due to the rapidly developing medical industry, the presence of a huge patient pool, and increasing expenditure in healthcare by the government. China held a share of 25.1% in the Asia-Pacific MRSA drugs market in 2016. The Middle East & Africa holds the least market share in the global MRSA drugs market.

Key Players

The prominent players in the global MRSA drugs market are Merck KGaA (UK), Olon (Italy), Allergan (Dublin, Ireland), Baxter (US), Theravance Biopharma (Theravance Biopharma), Pfizer (US), Mylan NV (US), and Novartis (Switzerland).

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Mastitis Market | Worldwide Top key Players Profile Analysis | Forecast till 2023

The Global Mastitis Market is expected to register a CAGR of 15.07% to reach USD 18,338.80 Million till 2023. Mastitis is an infection in the tissue of one or both mammary glands inside the breast. It usually affects women who are breastfeeding, and it results from a blocked or a plugged duct. In bovine, mastitis is the inflammation of the mammary gland and udder tissue due to bacterial invasion of the teat canal by a variety of bacterial sources present on the farm, and can also occur as a result of chemical, mechanical, or thermal injury to the cow’s udder.

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The rising cases of breast cancer, increasing rate of pregnancy, and unhygienic barn conditions causing contagious mastitis in bovines across the globe is expected to enhance the market growth. However, the lack of awareness and complications in diagnosis due to similar symptoms of breast cancer & mastitis are projected to curb the growth of the market.

Market Dynamics

Mastitis has been gaining significance in recent years, owing to the rising incidence of breast cancer. For instance, the Breast Cancer Research Foundation estimated that 266,120 new cases of invasive breast cancer were diagnosed in women in 2018 in the US. Similarly, the UK witnessed around 11,563 deaths due to breast cancer in 2016, according to the Cancer Research UK. Whereas, according to the World Cancer Research Fund International, Belgium had the highest rate of breast cancer in women in 2017. Such a vast population suffering from breast cancer boosts market growth during the forecast period.

Segmentation

The global mastitis market, by type, has been segmented into bovine and human. Based on treatment, the Mastitis market has been categorized as bovine and human. Based on end user, the mastitis market has been classified as veterinary centers and hospital & clinics.

Regional Analysis

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

The Americas is expected to hold the largest share of the global mastitis market. North America is expected to dominate the market, mainly due to the increasing p prevalence of mastitis among the bovine population and increasing incidence of breast cancer in the region.

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 advanced treatment facilities, rising government initiatives to promote healthy breastfeeding, and growing healthcare expenditure. For instance, according to Eurostat, Germany spent over EUR 321 billion in 2014.

Asia-Pacific is estimated to be the fastest-growing region in the global market due to the presence of rapidly developing economies such as China, India, and South Korea. Moreover, the vast patient pool of chronic diseases and government initiatives of healthcare reforms will support the growth of the market.

The mastitis market in the Middle East & Africa is expected to grow due to the affordability and accessibility of healthcare.

Key Players

The prominent players in the global Mastitis market are Bayer AG (Germany), Oncothyreon Inc (US), OncoGenex (US), Apthera Inc. (UK), Zoetis Inc. (US), Boehringer Ingelheim GmbH (Germany), Merck Co. & Inc. (US), Astellas Pharma Inc. (Japan), Pfizer Inc. (US), Novartis AG (Switzerland), Sanofi SA (France), and F. Hoffmann-La Roche AG (Switzerland).

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