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Thursday, 29 April 2021

Hearing Aids Market: Recent Industry Trends and Projected Industry Growth, 2020– 2027

Market Forecast

Hearing Aids Market trends expected to cross USD 10.2 Billion by 2025 at a CAGR of 7%.

Market Synopsis

The technological advancements and launch of new products are expected to fuel the global hearing aids market.

Market Influencer

Technological advancements for the development of products by hearing aids manufacturers which along with improved hearing experience also have sleek appearance promoting the use of hearing aids.

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The growth of global hearing aids market is driven by various factors such as increasing incidence of hearing loss, the launch of new products, increasing geriatric population, and raising awareness about hearing loss treatment. However, the low penetration of hearing aids and product recalls are expected to curb the growth of the global hearing aids market.

The global hearing aids market is currently dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.

Regional Analysis

The market has been divided, by region, into Europe, the Americas, Asia-Pacific, and the Middle East & Africa. Europe is expected to be the largest market owing to the rising incidence of hearing loss and sophisticated healthcare infrastructure. The European hearing aids market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Americas holds the second largest market share. The hearing aids market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The hearing aids market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing awareness regarding the use of hearing aids and increasing population affected by hearing disorders, the market in Asia-Pacific is expected to be the fastest-growing. The hearing aids market in the Middle East & Africa has been divided into the Middle East and Africa and is expected to hold the least market share.

Segmentation

The global hearing aids market has been segmented based on product, product type, type of hearing loss, technology type, and distribution channel.

The market, based on product, has been divided into devices, implants, and accessories, out of which implants is the fastest-growing segment. For instance, the Australia-based manufacturer Cochlear Ltd reported a profit of USD 265 to USD 275 million in first quarter of 2019, 8% to 12% more as compared to that in the first quarter of 2018.

The global hearing aids market has been segmented, on the basis of product type, into wired and wireless. Wireless is the fastest-growing segment owing to technological advancements and product launches. For instance, Sonova, in November 2018 launched products based on SWORD (Sonova Wireless One Radio Digital) chip. The new technology allows hearing instruments to connect with electronic devices such as televisions or mobile phones.

The type of hearing loss segments of the market are sensorineural, conductive, and others. The growth of the segment is due to the high prevalence of hearing loss. For instance, in 2018, around 2 to 3 out of 1000, children in the US are born with a hearing loss in one or both ears.

The technology type segment of the market is segmented as digital hearing aids and analog hearing aids. The digital hearing aids segment is expected to be both, the largest shareholder and the fastest-growing segment owing to its advantages over analog counterparts.

The distribution channel segment is classified into retail stores, E-commerce, and others. The E-commerce segment is expected to be the fastest-growing segment owing to ease of access to products for customers.

Key Players

Some of the key players in the global hearing aids market are Sonova (Switzerland), Cochlear Ltd. (Australia), GN Store Nord A/S (Denmark), Sivantos Pte. Ltd. (Singapore), Arphi Electronics Private Limited (India), Demant A/S (Denmark), Starkey (US), WIDEX INDIA PRIVATE LIMITED (Denmark), Zounds Hearing (US), SeboTek Hearing Systems, LLC (US), Audina Hearing Instruments, Inc. (US), and Microson (Spain).

Liver Cirrhosis Treatment Market Is Seeing Explosive Growth by Future Industry Winners: Forecast, 2020-2027

Market Highlights

According to MRFR analysis, the upcoming global liver cirrhosis treatment market trends expected to register a CAGR of ~5.2% during the forecast period of 2019 to 2025 and was valued at USD 956.89 million in 2018.

Liver cirrhosis is basically the late-stage scarring of the liver caused due to various types of liver diseases and disorders such as alcoholism and hepatitis, among others. No symptoms are observed until the liver is extensively damaged. Complications of liver cirrhosis include portal hypertension, leg & abdomen swelling, splenomegaly, bleeding, infections, malnutrition, hepatic encephalopathy, jaundice, bone diseases, risk of liver cancer, and multi-organ failure.

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The growth of the global liver cirrhosis treatment market is driven by various factors such as an increasing global geriatric population, rising prevalence of liver cirrhosis, rapidly changing lifestyle, growing awareness programs regarding liver diseases, rising R&D investment for the development of innovative drugs for liver diseases, and increasing demand for better treatment methods for curing liver cirrhosis. However, stringent government regulations, high investment required for drug research & development, and side-effects of medications prescribed for liver cirrhosis are the factors that are expected to limit the growth of the global liver cirrhosis treatment market.

The global liver cirrhosis treatment market is currently dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the increasing prevalence of liver cirrhosis and high geriatric population. The liver cirrhosis treatment market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European liver cirrhosis treatment market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The liver cirrhosis treatment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing patient pool of liver cirrhosis and raising awareness about the disease, the market in Asia-Pacific is expected to be the fastest-growing. The liver cirrhosis treatment market in the Middle East & Africa has been divided into the Middle East and Africa.

Segmentation

The global liver cirrhosis treatment market has been segmented based on treatment, and end user.

The global liver cirrhosis treatment market has been segmented, on the basis of treatment, into antibiotics, immunosuppressants, and others. The antibiotics segment is expected to hold the majority share of the market as antibiotics are the most preferred type of prescribed drugs for liver cirrhosis patients due to high risk of infections. The immunosuppressants segment is expected to grow at the fastest CAGR, due to an increasing number of liver transplants. Till October 2017, 147,842 liver transplants have been performed in the Americas. Immunosuppressants are a type of drugs that are prescribed to patients who have undergone liver transplant so that the risk of organ rejection is decreased. Other treatment options include drugs to reduce ammonia levels, antihypertensive drugs, and medications to reduce blood pressure, among others.

The market on the basis of end user has been segmented into hospitals and clinics, research and academic institutes, and others. The hospitals and clinics segment is expected to hold the largest share of the market as they are primary centers of treatment for the patient. Research and academic institutes carry out research activities for the development of new treatment options for liver cirrhosis. Other end users include home care settings and specific centers for the treatment of elderly people.

Key Players

Some of the key players in the global liver cirrhosis treatment market are Pfizer, Inc. (US), Merck & Co., Inc. (Germany), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), Takeda Pharmaceutical Company Limited (Japan), Gilead Sciences, Inc. (US), AstraZeneca (UK), Bayer AG (Germany), Sanofi (France), Shionogi Inc. (Japan), and Promethera (Belgium).

Alpha-1 Antitrypsin Deficiency Treatment Market Size, Share, Demand, Financial Overview, Key Developments, Swot Analysis and Forecast to 2027

Market Forecast

Global Alpha-1 Antitrypsin Deficiency Treatment Market trends is expected to cross USD 2,914.7 Million by 2025 at a CAGR of 10.50%.

Growing product pipeline for alpha-1 antitrypsin drugs and rising prevalence of alpha-1 antitrypsin deficiency are set to drive the market growth for alpha-1 antitrypsin deficiency treatment. Approximately 100,000 people in the US are known to suffer from alpha-1 antitrypsin deficiency.

Rising awareness regarding the alpha-1 antitrypsin deficiency is expected to drive the growth of the global alpha-1 antitrypsin deficiency treatment market.

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The market is dominated by numerous established players. The key players are involved in product launches, strategic collaborations, and awareness programs to strengthen their market positions. For instance, in November 2018, Grifols S. A. launched the AlfaCare therapy program for training and counseling of patients diagnosed with alpha-1 antitrypsin deficiency.

Market Influencer

The prevalence of alpha-1 antitrypsin deficiency (AATD) is increasing, which is directly responsible for the growth of the global alpha-1 antitrypsin deficiency treatment market. Strategic initiatives, mergers & acquisitions, partnerships, agreements, product launches, government approvals, and expansion of manufacturing facilities by major competitors are expected to further boost market growth during the forecast period.

Segmentation

By Drugs:

Alpha-1 Proteinase Inhibitor: The segment is expected to hold the largest market share as it is the only treatment for AATD, which protects the patient from more lung damage.
Bronchodilators: These are used for the treatment of respiratory disorders associated with AATD.
Steroids: These are used specifically for the treatment of chronic obstructive pulmonary disease, which affects the patient along with AATD.
Others: Other treatment options include antibiotics for infections and jaundice associated with AATD and oxygen therapy.

By Route of Administration:

Oral: The segment is expected to hold the largest market share.
Intravenous: The segment is expected to grow at the fastest CAGR.
Inhalation: This route of administration is used specifically for the administration of corticosteroids for treating breathing disorders.
Others: Subcutaneous and intramuscular routes of administration.

By Distribution Channel:

Hospital Pharmacy: The rise in the number of hospitals is likely to be responsible for the largest market size.
Retail Pharmacy: These fulfill the requirement of drugs that are needed for treatment at home.
Online Stores: The fastest-growing segment owing to increase in number of online pharmacies.

By Region

Americas: The region holds the largest share of the market. The market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada.

Europe: The European alpha-1 antitrypsin deficiency treatment market has been classified as Western Europe and Eastern Europe. The Western European market has further been categorized as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

Asia-Pacific: The market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Asia-Pacific alpha-1 antitrypsin deficiency treatment market is projected to be the fastest-growing during the forecast period.

Middle East & Africa: The market in the Middle East & Africa has been divided into the Middle East and Africa.
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Medical Image Management Market Size, Share, Demand, Financial Overview, Key Developments, Swot Analysis and Forecast to 2027

Global Medical Image Management Market share is expected to register a CAGR of 7.80% to reach USD 5,971.28 Million till 2025. Medical image management systems are used in hospitals and diagnostic centers for sharing patient data and laboratory results with physicians. These systems are very useful and help in maintaining patient data, which plays an important role in clinical decision making.

The rising prevalence of chronic diseases, increasing spending on the healthcare it sector, and technological advancements in diagnostics sector are expected to enhance the market growth. However, the high costs of software solutions and privacy and security concerns are projected to curb the growth of the market.

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Market Dynamics

The market is expected to witness a profitable growth owing to the rising prevalence of chronic diseases. According to the data by the Government of Canada, in 2017, about 2.3 million people aged 12 and older were diagnosed with diabetes. Additionally, according to the press release by Chiron Health published in June 2016, chronic diseases such as heart disease, stroke, cancer, depression, type 2 diabetes, obesity, and arthritis affected an estimated 117 million people in the Americas. The medical image management technology could be used to address the issues related to the data collection and sharing of laboratory results and rising demand for healthcare services related to the diagnosis of cancer, diabetes, and other diseases in the North American region.

Thus, the rising prevalence of chronic diseases is expected to drive the growth of the global medical image management market.

Segmentation

The global medical image management market, by product, has been segmented into picture archiving and communication system, vendor-neutral archive (VNA), application-independent clinical archives, and enterprise viewers/universal viewers.Based on end user, the medical image management market has been categorized as hospitals, diagnostic imaging centers, and others.

Regional Analysis

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

The Americas accounted for the largest market in 2018 and is estimated to dominate the global medical image management market owing to the increasing prevalence of chronic diseases, rising adoption of healthcare IT by healthcare bodies, and an increasing number of medical imaging procedures performed.

Europe acquired the second largest market share in 2018. It is expected to register a CAGR of 8.12% by the end of the forecast period. The European market is expected to register a sturdy growth rate during the forecast period due to major driving factors such as the rising patient population of strokes and cardiovascular disorders, increasing research on ultrasound, and availability of advanced treatment facilities amongst others. For instance, according to the 2017 statistics presented by the European Society of Cardiology, there were more than 6 million new cases of cardiovascular diseases in the European Union and more than 11 million in Europe as a whole.

Asia-Pacific is expected to witness significant growth and is projected to be the fastest-growing region over the forecast period. The high growth rate is due to the rising demand for medical practitioners to produce appropriate vascular, orthopedic, breast, and cardiac images and integration of reports, images, and measurements into a patient’s complete record. India held a share of 17.8% in the Asia-Pacific medical image management market in 2018.

The Middle East & Africa accounted for the least market in 2018 and is forecasted to exhibit steady growth due to the high price of devices, lack of awareness regarding health, and lack of skilled professionals.

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Forensic Swab Market Size, Share, Demand, Financial Overview, Key Developments, Swot Analysis and Forecast to 2027

The Global Forensic Swab Market is expected to register 5.8% CAGR and is anticipated to reach USD 49.09 Million by 2023. Forensic swabs are extensively used by forensic scientists and crime scene investigators for collecting a wide range of evidence-samples such as blood, saliva, and DNA. These samples are analyzed in the laboratory for desired results. Gathering biological samples for successive DNA analysis is one of the major applications for forensic swabs. Rising criminal activities, increasing adoption of DNA forensics, growing forensic biotechnology sector, and favorable government support are some of the major factors driving the market growth during the forecast period. However, factors such as the high price of DNA free forensic swabs and irregular supply of new products in the market are projected to restrain the market growth. However, the growing rate of chronic and infectious diseases, increased research and development investment (R&D), and technological advancements are expected to boost the market growth.

Key Players

The Global forensic swab market manufacturers are Becton, Dickinson and Company Thermo Fisher Scientific Inc., Merck KGaA, Copan Italia S.p.A., MWE, SARSTEDT AG & Co. KG, Luna, Puritan Medical Products, Sirchie, and MEDTECH Forensics.

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Market Dynamics

The past few years, there has been an increase in criminal activities and reported crimes has increased. According to crime statistics published by the Federal Bureau of Investigation, approximately 17,250 murders were estimated to be reported within the US in 2016. The government support for forensics-related activities is one of the major factors driving the global forensic swab market. The judicial framework of various countries has realized the importance of forensics. Currently, forensics is being utilized as toxicology forensics, DNA forensics, and others for investigating criminal offenses. According to a report on forensic science published by the National Criminal Justice Reference Service, the National Institute of Justice received a funding of USD 125 million through the Department of Justice Appropriations Act in 2017 for boosting DNA and other related forensic programs and activities and sexual assault forensic exams.

Segmentation

The global forensic swab market has been segmented into type, type of swab shaft, and end user.

Based on type, the global market has been segmented into foam, flocked, and cotton.

Based on type of swab shaft, the global market has been segmented into wood-stick shaft, polystyrene shaft.

Based on end user, the global market has been divided into forensic science laboratories and hospitals.

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Orthokeratology Lens Market – Qualitative Insights by 2027

Global Orthokeratology Lens Market is expected to register a CAGR of 7.4% to reach USD 3,857.8 Million till 2025.

Orthokeratology is also known as ortho-k, corneal refractive therapy (CRT), and overnight vision correction therapy. It is a non-surgical method used to correct refractive errors by reshaping the curvature of the cornea to improve object visibility. This procedure is a temporary treatment method used for the correction of myopia, hypermetropia, and other eye-related problems.

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The growing prevalence of refractive errors across the globe, advancements in the field of ophthalmology over the past couple of decades and low cost compared to laser-assisted in situ keratomileuses (LASIK) treatment is expected to enhance the market growth. However, the availability of alternative treatment methods and risk associated with orthokeratology are projected to curb the growth of the market.

Market Dynamics

A rise in the number of individuals with refractive errors such as myopia, hypermetropia, astigmatism, and presbyopia increases the demand for innovative treatment methods. Myopia is reported as the most common disorder affecting a large number of populations worldwide. The World Health Organization 2018 fact sheet estimated that approximately 1.3 billion people were living with some form of vision impairment. It also reported that 188.5 million patients have a mild vision impairment, 217 million people have moderate to severe vision impairment, and 36 million people are blind, globally. Such a vast population suffering from eye problems boosts market growth during the forecast period.

Segmentation

The global orthokeratology lens market, by material, has been segmented into silicone acrylate, fluorosilicone acrylate, and fluorocarbon acrylate. On the basis of application, the global orthokeratology lens market has been segmented into myopia and hyperopia. Based on end user, the market has been segmented into hospitals and ophthalmic clinic.

Regional Analysis

The global orthokeratology lens 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 orthokeratology lens market. The growth of the Americas can be attributed to its rising geriatric population and increasing ophthalmological disorders, causing an increased need for diagnosis and therapeutics.

Asia-Pacific is expected to account for the second-largest orthokeratology lens market share during the forecast period. The factors responsible for market growth in this region are the rising patient population of people with eye disorders, availability of advanced treatment facilities, increasing healthcare expenditure, and the introduction of advanced therapies into the market along with the presence of good healthcare infrastructure. According to the Asian Development Bank, the elderly population in Asia is projected to reach nearly 923 million by 2050.

Europe is estimated to be growing at the fastest pace in the global market due to the increasing cases of eye disorders and increasing government initiatives are driving the growth of the market. According to reports published by the United Kingdom Statistics Authority, in 2015, around 15,900 people were registered as visually impaired.

The orthokeratology lens market in the Middle East & Africa is expected to exhibit the least growth in the global orthokeratology lens market due to factors such as limited access to healthcare affordability issues.

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Nerve Regeneration Market Is Seeing Explosive Growth by Future Industry Winners: Forecast, 2020-2027

Global Nerve Regeneration Market is expected to register a CAGR of 11.34% to reach USD 12695.25 million by 2024. Nerve regeneration products are used to restore damaged nerves to their normal function, and this procedure is primarily used to treat peripheral nerve injuries. This market is witnessing high growth due to factors such as rising neurological disorders, increasing geriatric population prone to nerve-related diseases, and technological advancements.

Rising neurological disorders, increasing geriatric population susceptible to neurological diseases, and technological advancements in the field of nerve regeneration are expected to enhance the market growth. However, high cost and stringent regulatory framework are projected to restrain the market growth during the forecast period.

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Key Players

The prominent players in the global nerve regeneration market share are Boston Scientific Corporation, LivaNova PLC, Axogen Corporation, Integra LifeSciences, Abbott, Stryker Corporation, Nuvectra Corporation, NeuroPace, Polyganics, and Medtronic.

The players operating in the global nerve regeneration market are focusing on product launches, along with expanding their global footprints by entering untapped markets.

In April 2019, Polyganics increased its production capacity with a new facility at the Zernike Campus, Groningen, to enter a new phase of commercial and research and development (R&D) growth.

In June 2018, NeuroPace launched a Next-Generation RNS System, the world’s only brain-computer interface for the treatment of refractory epilepsy.

Market Dynamics

The rising neurological disorders have primarily driven the global nerve regeneration market. For instance, as per the statistics of World Health Organizations(WHO) in 2017, around 50 million people all over the world were affected by epilepsy. Various other factors, such as increasing geriatric population affected by neurological disorders and technological advancements, are also propelling the growth of the market. Moreover, the high cost of products and stringent regulatory framework are expected to hinder the market growth.

Market Segmentation

Global Nerve Regeneration Market has been segmented into Product, Application, and End User. Based on the product, the market has been segregated into neurostimulation & neuromodulation devices and biomaterials. On the basis of neurostimulation and neuromodulation devices, the market has been divided into internal neurostimulation devices and external neurostimulation devices. Neurostimulation and neuromodulation devices held a share of 4,764.96 USD million in 2018. Internal neurostimulation devices have been further bifurcated into spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and gastric electrical stimulation. External neurostimulation devices have been further segmented into transcutaneous electrical nerve stimulation, transcranial magnetic stimulation. Biomaterials have also been classified as nerve conduits, nerve protectors, nerve wraps, and nerve connectors. Based on the application, the market has been categorized as neurostimulation and neuromodulation surgeries, direct nerve repair/neurorrhaphy, nerve grafting, stem cell therapy, and others. Neurostimulation and neuromodulation surgeries have been bifurcated into internal neurostimulation and neuromodulation surgeries, external neurostimulation, and neuromodulation surgeries. Nerve grafting has been further classified as autografts, allografts, and xenografts. Based on end-user, the market has been divided into end-user, hospitals & clinics, ambulatory surgery centers, and others

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