Surgical Stapler Market Size, Share, Demand, Financial Overview, Key Developments, Swot Analysis and Forecast to 2027

 The Global Surgical Stapler Market is expected to grow during the forecast period (2018 to 2023) at a CAGR approx. 7.2 %.

A surgical stapler is a complex mechanical medical device that has been present in the market for years and is mature in technology. Surgical staplers are used in various surgeries such as gastrointestinal, gynecologic, thoracic, and many other surgeries to remove the part of organ and tissues. This surgical stapler reduces the time of surgical procedure. The global surgical stapler market is increasing due to increasing surgical procedures, the introduction of technologically advanced surgical staplers, and growing number of bariatric and other weight loss surgeries. However, due to increasing aesthetic surgeries, breast surgeries, surgical technology, and pediatric surgical procedures, the surgical stapler market size is expected to grow in the future.  

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However, the high cost of treatment, misuse of funding, and lack of awareness are some of the factors which are expected to hamper the growth of the market during the forecast period.

Segmentation

The global surgical stapler market is segmented into types, product, application, and end-users. Based on types the surgical stapler market is segmented into disposable surgical staplers and reusable surgical staplers. On the basis of the product, the market is segmented into manual surgical staplers and powered surgical staplers. Based on application, the surgical stapler market is segmented into abdominal and pelvic surgery, general surgery, cardiac and thoracic surgery, orthopedic surgery, and other surgical applications. Based on end-user the market is segmented into hospitals, ambulatory surgical centers (ASCs), and clinics.

Regional Market Summary

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The global surgical stapler market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. The European global surgical stapler 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 global surgical stapler market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The surgical stapler market in the Middle East and Africa has been segmented into the Middle East and Africa.

North America will dominate the surgical stapler market during the forecast period. Technological advancements, growing geriatric population, and rising number of surgical procedures are likely to drive the surgical stapler market during the forecast period. North America and Europe are expected to hold a major share of around 70% of the surgical stapler market during the forecast period. The European market is expected to be the second-largest market. The market growth in this region can be attributed to the increasing awareness and adoption of the advanced surgical technology. Asia-Pacific is expected to be the fastest-growing surgical stapler market during the forecast period owing to the increasing prevalence of cardiac diseases, rising investments in healthcare, increasing geriatric population, and expansions by market players in the region. Asia-Pacific is giving strong competition to the global surgical stapler market by producing cost-effective treatments that are high in demand in local as well as global markets. The market in the Middle East and Africa is expected to account for the smallest share in the global surgical stapler market due to the underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.

Key Players

Some of the key players in the global surgical stapler market are  Ethicon. US, LLC., Cardica Inc, Smith and Nephew Plc, CONMED Corporation, Purple Surgical Inc., Welfare Medical Ltd, Reach Surgical, Grena Ltd, B.Braun Melsungen AG, Frankenman International Limited, Zimmer Biomet, Stryker, Meril Life Sciences Pvt. Ltd., Touchstone International Medical Science Co.Ltd, and Medtronic.

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COVID-19 Outbreak Impact Market Size, Share, Demand, Financial Overview, Key Developments, Swot Analysis and Forecast to 2027

 COVID-19 Outbreak and Healthcare Industry

At the time of evaluating the impact of COVID-19 outbreak on healthcare market the total positive cases reached 1,350,357, the death toll came out to be at 74,866, whereas the total recovered population is 287,481. It has been observed that countries such as South Korea, Taiwan, and Singapore have controlled the spreading of COVID-19 before it could reach the community level. On the other hand, well-developed economies such as the US, Italy, the UK, Spain, France, and Germany are not capable to control the COVID-19 even after having a robust healthcare infrastructure. This has resulted in a very high impact of COVID-19 outbreak on healthcare market.

However, precautionary measures such as strict social distancing and lockdown taken by many countries that include India, Italy, Germany, France, Spain, and the US have resulted in the decline in the number of cases of COVID-19. However, China has a low rate of new COVID 19 patients and is in a position of restarting its economy.

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Impact of COVID-19 Outbreak on Healthcare Market by sector

Continuously rising positive cases are also generating the demand for medical ventilators across the globe. It has been observed the around 5% of the total positive COVID-19 cases are severe that require ventilators for the smoothness in breathing. This is resulting in a growing demand for medical ventilators across the globe. Most of the companies have extended their production capacity to meet the ongoing demand. For instance,

• Getinge increased its capacity by 60% compared to its previous production capacity of 10,000

• Philips has doubled its ventilator production capacity from ~1000 ventilators a week to ~2000 ventilators capacity a week

• Medtronic announced to upscale its production with 40% and is working hard to make it double in the coming days

• GE Healthcare has come up with an agreement with Ford to fill the gap between demand and supply

Also, many players such as Mahindra Group, Ford, and Maruti Suzuki are stepping into the healthcare industry.

It has been observed that many companies are repurposing their production lines to join the fight against COVID-19. Along with this, there are many industrialists and luxury hotels that are entering into the hygiene masks and quarantine center services, respectively.

Many new start-ups are also contributing to the fight against COVID-19 by introducing apps that help to track COVID-19 cases. A Canada-based company Emerge, a blockchain startup based in Toronto, is introducing a public safety system app called Civitas to assist local authorities in many nations.

Apart from a rise in demand and a shortage of medical supply capacity, the spread of medical protectionism has been one of the biggest problems for supply chains in healthcare so far. And though obstacles are eliminated there are still sourcing problems. Malaysia's shutdown may result in a shortage of global supplies of rubber from companies such as Top Glove. However, The G20 heads-of-state meeting has committed to "minimizing trade and global supply chain disruptions" caused by the coronavirus outbreak. Encouragingly, there is a determination to ensure that medical supplies and important agricultural products are distributed "where they are needed the

Objective behind Repurposing

During this critical situation, the priorities for most of the manufacturing companies are to protect their workforce along with the running operation. For meeting this objective, workers are required to protect themselves by wearing masks and disinfecting themselves properly. In countries such as China which now ready to reopen its manufacturing unit, the government allows only those companies for production who have enough face masks along with other required measures. As a result, there is a surge in the demand and supply of such products.

Most of the companies started their production units to meet the demand for such products for their workers to smoothly run their production unit. For instance, Foxconn an electronic company started to produce face masks itself with the clear aim of increasing its production. Also, in India, Anheuser-Busch InBev, that sells Budweiser and Haywards, the known brands of beer, tied-up with the state government to provide 15 lakh basic measure equipment along with face masks to the frontline workers. These companies are rapidly developing production capacities for masks that surpassed their demands and are beginning to help frontline workers in the medical sector and others in their daily battle against COVID-19 at no cost.

Repurposing, though, does not only help businesses retain their workforce and support the common good, it also allows them to keep production lines up in the time of poor demand, raising their modest sales and affecting their image positively.

We at MRFR are continuously tracking the Impact of COVID-19 pandemic on various industries within the healthcare sector that include an impact analysis over medical devices, diagnostics, pharmaceuticals, healthcare IT, insurance, medical tourism, healthcare facilities, etc. These studies help you to understand the drop and rise, owing to the impact of COVID-19 on these industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis of rapid clinical trials, amended government regulations, and many other useful insights.

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New research report offers detailed research on developments in Medical Aesthetics Market 2027

 Global Medical Aesthetics Market Size is expected to register a CAGR of 8.30% during the assessment period, to reach USD 38,850.89 Million by 2027.

Market Dynamics

The growing obese and geriatric population worldwide is leading to an increased demand for aesthetic procedures such as liposuction, hair transplantation, and others. Moreover, the growing demand for beauty treatments and other anti-aging-related cosmetic procedures are accelerating the growth of the global medical aesthetics market. The rising need to appear younger and visible positive effects of these treatments are increasing the popularity of aesthetic procedures across the globe.

In 2016, according to the International Society of Aesthetic Plastic Surgery, an estimated 18,447 liposuction procedures were performed in Taipei, accounting for 1.3% of the total surgical liposuction procedures across the globe. Moreover, it was determined that India stood third in liposuction procedures, representing 5.0% of the total liposuction procedures performed in the world. According to the American Society for Aesthetic Plastic Surgery, 414,335 liposuction procedures were performed in the US in 2016.

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Segmentation

Medical Aesthetics Market Share is segmented based on Product, Technology, and End User.

Global Market based on the product has been segmented into facial aesthetic, body contouring devices, cosmetic implants, hair removal devices, skin aesthetic devices, tattoo removal devices, others. The global medical aesthetics industry, by technology, has been segmented into invasive, non-invasive, minimally invasive. The invasive segment is held the largest market share in 2019. Invasive procedures, such as liposuction, breast augmentation, and nose reshaping, among others, are some of the trending invasive aesthetic procedures. The rise in a number of men and women wanting to improve their aesthetic appearance has been fueling the demand for liposuction procedures, which is fueling the market growth. The global medical aesthetics market, by end user, has been segmented into hospitals & clinics, dermatology & cosmetic centers, others. The hospitals & clinics segment dominated the market. The increasing patient pool in the hospitals & clinics also raises the demand for medical aesthetics, which is propelling the market growth of this segment.

Regional Analysis

Global Medical Aesthetics Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Americas has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The Americas spearheaded the market in 2019 and is likely to continue to command during the assessment period. Well-developed healthcare infrastructure, adoption of cosmetic procedures, increasing prevalence of skin disorders, and presence of board-certified and skilled cosmetic surgeons in the region are some of the major factors contributing to the market growth. According to the American Society of Plastic Surgeons (ASPS), the U.S. is reported to top the list of countries with the maximum number of cosmetic surgeons globally in 2017.

The European market has been divided into Western Europe and Eastern Europe. The Western Europe market has further been classified into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. Europe would follow the Americas in terms of value during the forecast. Europe accounts for the second-largest market for global aesthetics owing to the increasing support from the government, the presence of the target population, and high healthcare spending. According to the report published by the European Union, the healthcare expenditure in European nations was around 9.6% of the total gross domestic product.

The medical aesthetics industry in Asia-Pacific has been segmented into China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific. Asia-Pacific is expected to witness the highest growth rate during the study period. Growing awareness about aesthetics among the young population, rapid development in technology, and the presence of huge opportunities for the development of the market drive the growth of the medical aesthetics in Asia-Pacific market. The government of this region is also looking forward to availing better treatment options from developed nations to improve the quality of life of their citizens. Additionally, the increasing acceptance of facial aesthetics is also fueling the market for medical aesthetics in this region.

The Middle East & Africa market is segmented into the Middle East and Africa. The Middle East is expected to dominate the market owing to the presence of a well-developed healthcare sector. The growth of the market is majorly attributed to the developing healthcare infrastructure, untapped market in this region, and increasing demand for products. These factors are driving the market growth in this region.

Key Players

The Prominent Players in the Global Medical Aesthetics Market are Galderma Laboratories, L.P (US)., Allergan plc (Ireland), Merz Pharmaceuticals GmbH (Germany), Lumenis (Israel), and Bausch Health (US).

Some of the key strategies followed by players operating in the global medical aesthetics market were FDA approvals, joint ventures, acquisitions, expansions, and collaborations, among others.

• In October 2020, Alma, a Sisram Medical Company, launched Alma Hybrid to enable endless options of ablative, non-ablative, and thermal treatments for skin rejuvenation and scar revision.

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Impact of Existing and Emerging Global Allergic Rhinitis Market Trends And Forecast 2020-2027

 Market overview

Theallergic rhinitis market is currently growing at a CAGR of 3.10%. The market is expected to be worth the USD 15,064.12 million by 2025. Growth is expected to be strong in this market until at least the end of 2027. 

Allergic rhinitis is becoming more of a problem worldwide. Various governments around the world are investing heavily in educational campaigns regarding various allergies and the many ways that allergic rhinitis medicines can help alleviate these. 

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COVID-19 analysis

COVID-19 became a global nuisance in the Spring of 2020. At first, governments thought that this virus was nothing more than a stronger version of the flu. However, many people reported long-term side effects months after having recovered from the virus. Some of these conditions included diabetes and strokes. What complicated matters further was the fact that the antibodies only lasted for a few months. Therefore, those who recovered could get it again.

Governments around the world responded with mandatory lockdowns and quarantines. This adversely affected the allergic rhinitis market. Many companies found it difficult to source the raw materials for these drugs. This pushed production costs up. These companies were forced to pass these costs onto the end consumer in the form of higher prices.

Market dynamics

Drivers

Climate change has meant that more and more people around the world are suffering from seasonal or long-term allergies. Since these allergies can be severe, governments around the world have been launching marketing and educational programs and campaigns that are designed to warn and inform people about allergies. These campaigns are also designed to promote allergic rhinitis drugs as much as possible.

Many private and national healthcare providers are responding by covering allergic rhinitis drugs and treatments. This phenomenon is expected to be a major driver of growth until at least the end of 2027. 

According to the European Academy of Allergy and Clinical Immunology (EAACI), approximately 150 million people in Europe suffer from chronic allergies. About two-thirds of those are suffering from allergic rhinitis.

Opportunities

Massive government educational programs about allergic rhinitis are expected to create many new opportunities for the allergic rhinitis drugs market. This is especially true because companies are investing heavily in research and development. This is allowing them to create a new generation of over-the-counter and prescription allergic rhinitis drugs that can sell for very high prices. These new-generation drugs are far more effective at relieving the symptoms of allergic rhinitis for longer. 

Restraints

One factor that could potentially hamper growth in the allergic rhinitis market is the many side effects. Though rare, some of these side effects can be dangerous and even deadly!

Challenges

One major challenge that companies in the allergic rhinitis market face are the issue of keeping production costs down. This will make these drugs more affordable and result in more sales. COVID-19 and its aftermath have only exacerbated this challenge. 

Cumulative growth analysis

The CAGR of this allergic rhinitis market is expected to be 3.10% by the end of 2027. The allergic rhinitis drugs market is expected to be worth USD 15,064.12 million by the end of 2025.

Technology analysis

Merck & Co has been at the forefront in terms of research and development in the global allergic rhinitis market. The results have paid off. One new generation of allergy drugs is Asmanex. This is a prescription medicine. It’s an aerosol corticosteroid that’s taken nasally. Asmanex is a strong drug that can relieve many allergy symptoms for longer. 

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Research report covers the Behavioral Health Services Market Forecasts and Growth, 2020-2027

 Market Forecast

Global Behavioral Health Services Market is expected to cross USD 146.3 Billion by 2025 at a CAGR of 3.4 %.

Market Synopsis

Behavioral health services are healthcare organizations that provide medical services, mental health services, and substance abuse. There are many types of behavioral health services that a person may need. The number of behavioral health services cases is increasing globally, fueling the market growth. Around 7.4% of children aged 3-18 years are diagnosed with behavioral health problems every year in the US. Behavioral health services are the second-highest contributor to global disability and an estimated 30% to 40% of people across the globe live with behavioral health services.

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Behavioral health services are most common in low- and middle-income countries, and this disorder requires lifelong care to manage.

Market Influencer

Rising awareness of behavioral health issues is expected to create favorable market prospects for behavioral health service providers.

Market Drivers

• Growing global geriatric population.
• Increasing prevalence of mental disorders. Globally 300 million people are affected by mental disorders.
• Rising demand for behavioral health treatment
• Clinical advancements in therapy
• Online counseling programs and daycare services
• Increasing research and development of new drugs to treat behavioral health disorders.
• Raising awareness of behavioral health services.

Market Restraints

• High treatment costs
• Lack of trained mental healthcare providers
• Limited primary care services

Segmentation

By Services Type

• Inpatient hospital treatment: The largest segment of the market. Inpatient hospital treatment is effectively designed to treat patients with acute behavioral health problems. This includes hospitalization of the patient for a short duration of time.

• Outpatient counseling: This disorder generally afflicts elderly people. In this therapy, the patient continues to live at home with continued physician oversight and medication management whereas outpatient counseling involves group therapy sessions and life skill workshops to give the patient the tools to live a healthy lifestyle.

• Home-Based Treatment Services: This service is provided face to face at home to address the symptoms to the patient as the result of psychiatric disorder.

• Emergency Mental Health Services: this type of service is given when the patient's behavior is out of control that the person must be treated immediately to avoid injury to themselves or others.

• Others: Various other types of services are also available such as substance abuse, serious mental illness, and bipolar disorder.

By Disorder Type

• Anxiety Disorder: The largest segment of the market. It is considered one of the common mental illnesses in the US. Around 40 million adults in the US suffer through anxiety disorder every year.

• Bipolar Disorders: It is also known as manic depressive disorder. It is brain disorder that causes unusual changes in mood, energy, and activity levels. It is estimated that around 7 million adults in US are diagnosed with bipolar disorder in 2018.

• Depression: It is a leading cause of disability worldwide. Depression is serious mental health condition that requires immediate medical care. More than 17 million US adult’s population had at least one major depressive disorder in the past year.

• Eating Disorder: It is a common disorder found in both men and women.

• Post-Traumatic Stress Disorder (PSTD): It is a disorder that develops in people who have experienced a dangerous event in their life. Around 3.6% of adults in the US are diagnosed with PSTD in recent years.

• Substance Abuse Disorder: Specific types of substances such as opioids, alcohol, or hallucinogens can lead to substance abuse disorder. The most common type of substance abuse disorder includes tobacco, cannabis, and alcohol.

• Others: Other type of disorders includes schizophrenia, insomnia, disruptive behavioral disorders, and pervasive development disorder.

By End-User

• Providers: The provider's segment is further sub-segmented into hospitals and clinics and community centers.

• Hospitals and Clinics: The largest segment, hospitals, and clinics are usually the primary points for diagnosis, treatment, and rehabilitation of individuals afflicted with behavioral health services. Growing awareness and increasing efficiency of behavioral health services are projected to drive the growth of this segment during the forecast period.

• Community Centers: A small segment. This center provides immediate services and rudimentary drugs for behavioral health disorders.

• Patients: Various drugs are used for the treatment of behavioral health services, which can be easily available in online pharmacy.

• Others: This segment includes home care and senior citizen centers.

By Region

• Americas: The largest regional market. The prevalence of behavioral health services is high in the Americas. The region also has a well-established healthcare industry. Out of the entire population, around 2% of people in the US were suffering from behavioral health services in 2017.

• Europe: An increasing geriatric population is leading to a rise in the number of behavioral health services.

• Asia-Pacific: The fastest-growing regional market. Asia-Pacific is seeing a surge in the number of people afflicted with behavioral health services due to the clinical advancement in therapy. Behavioral health services are an increasing problem in Asia. Approximately 3000 patients were diagnosed with behavioral health disorders in Korea in 2017, whereas in Japan, around 298 people were diagnosed with behavioral health disorders in 2017.

• Middle East & Africa: The smallest market due to limited healthcare infrastructure and a very young population.

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Global Contact Lenses Market Industry Production and Demand, Competition News and Trends Forecasts to 2027

 The Global Contact Lenses Market is expected to register a CAGR of 5.70% to reach USD 12,330.46 Million by 2025.

A contact lens is a thin curved lens, worn on the surface of the eyeball by people with compromised vision. The global contact lenses market is expected to exhibit lucrative growth during the forecast period. Some of the major factors characterizing the market growth are the increasing prevalence of visual impairments and eye disorders, and technological advancements in the field of ophthalmology. However, the side-effects associated with the usage of contact lenses is anticipated to limit the market growth over the forecast period.

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Market Dynamics

Contact lenses are normally thin plastic-like lenses, that are worn on the surface of the eyeball to improve vision. Contact lenses are medical devices regulated by the US Food and Drug Administration (FDA), however, cosmetic and prescription contact lenses require to be prescribed The increasing adoption of contact lenses for correction of multiple vision defects including refractive errors such as myopia, hyperopia, astigmatism, and presbyopia is likely to drive the growth of the global contact lenses market during the forecast period. For instance, according to the International Myopia Institute, the occurrence of myopia is growing rapidly and by 2050 almost 50% global population is expected to be myopic. Moreover, changing lifestyle, and technological advancements are also anticipated to fuel the demand for contact lenses across the world, thereby supporting the market growth.

Segmentation

On the basis of wear type,  global contact lenses market has been classified into daily disposable lenses, disposable lenses, frequent replacement lenses, and conventional lenses.

The global contact lenses market based on type has been divided into the corrective lens, therapeutic lenses, and cosmetic and lifestyle-oriented lens. The corrective lens segment held a share of 43.2% in 2018.

The global contact lenses market, by material, has been segregated into silicone hydrogel soft contact lens, methacrylate hydrogel soft contact lens, gas-permeable contact lens, and others.

By design, the market has been classified as spherical lens, toric lens, multifocal lens, and others.

Regional Analysis

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

The Americas dominates the global contact lenses market owing to the increasing population of contact lens wearers, growing prevalence of eye-related diseases, and the rising popularity of cosmetic lens among the youth. According to the Centers for Disease Control and Prevention, in 2015, an approximate of 40.9 million contact lens wearers in the US was 18 years or older, which accounted about 16.7% of the US adult population.

The European region holds the second-largest market share owing to the high adoption of contact lenses and increasing occurrences of age-related eye diseases. This region is expected to grow at a CAGR of 6.02% during the forecast period of 2019 to 2025.

Asia-Pacific is estimated to be the fastest-growing region in the global market due to the rising prevalence of eye disorders and growing adoption of contact lens among the youth. Additionally, multinational companies moving towards the developing nations and setting operational set-ups, this is likely to drive the growth of the market.

The contact lenses market in the Middle East & Africa is expected to witness a modest market growth rate from 2019 to 2025. The Middle East is projected to lead the market growth, attributing to factors such as increasing partnerships or agreements to commercialize contact lenses, developing healthcare infrastructure, flourishing medical tourism, growing healthcare industry, and rising awareness about contact lenses.

Key Players

The prominent players in the global contact lenses market are Johnson & Johnson Services Inc., Novartis AG, CooperVision, Inc. (The Cooper Companies Inc.), Bausch Health, Neovision Co, Ltd, Seed Co. Ltd, Hoya Corporation, Menicon Co., Ltd, Oculus Private Limited, Camax Optical Corp., and St. Shine Optical Co., Ltd.

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Global Molecular Diagnostics Market Show Steady Growth: Study 2027

 According to MRFR, the Global Molecular Diagnostics Market is poised to register a CAGR of 8.57%and is slated to reach USD 16.32 Billion by 2025. The growing prevalence of infectious disorders, increasing occurrence of various forms of cancer, and advances in molecular testing techniques are primary drivers of market development.

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COVID-19 Analysis

The dissemination of COVID-19 worldwide has significantly expanded the number of confirmed cases and the geographic areas where laboratory research must be carried out and strengthened. The molecular testing of COVID-19 resulted in a worldwide lack of molecular research reagents for COVID-19. Beyond supply issues, absorption capacity is limited in a number of regions, especially in low-and middle-income countries. Testing appears to be a key step in monitoring the accelerated dissemination of the virus. With a growing array of cases, regulators around the world are investigating the possibilities for private labs to scale up research. The broad availability of diagnostics would be sufficient for the rapid diagnosis of COVID-19 cases. The World Health Organisation (WHO) has produced guidelines for research methods as part of the strategic preparedness and response strategy. 

Market Dynamics

Technological Advancements In Molecular Diagnostics To Drive The Market Growth

In the testing of infectious diseases, molecular diagnostics play an essential role as they offer rapid and effective results. In order to drive the demand for molecular diagnostics over the forecast period, the increasing prevalence of hospital-acquired infections and infectious diseases is further estimated. The detection of numerous diseases has been facilitated by advances in molecular diagnostics and is particularly effective when faced with difficult differential diagnosis. Molecular diagnostic technological advances are expected to significantly drive market growth as they facilitate cost-effectiveness, accuracy and portability. 

Opportunities

Growing R&D Investments to Drive the Market Growth

The demand for molecular testing is expected to drive growing funding by governments and numerous organisations for R&D in molecular diagnostics. The availability of R&D funds and increasing government support for the life sciences sector are expected to boost market growth in this region.

Restraints

Stringency Of Molecular Diagnostics Regulations Likely to Impede Market Growth

In the pharmaceutical, biotechnology, and medical technology sectors, the regulatory framework for approvals has always been a major restrictive factor. Inaccurate results could be provided by faulty diagnostic kits. Therefore the strictness of regulations associated with the approval process for molecular diagnostics limits market growth.

Segment Overview

Global Molecular Diagnostics Market has been segmented into Product, Technique, Application, and End User. 

By Product

By product, the market has been segregated into reagents & kits, instruments, and services & software. This market segment of molecular diagnostics is dominated by the the reagents segment. Some of the major growth drivers for the segment are high use of reagents in molecular diagnostic testing, growing demand for over-the-counter diagnostic tests, and increased adoption of these tests in non-medical facilities such as home self-testing.. 

By Technique

Based on the technique, the market has been divided into a isothermal amplification, polymerase chain reaction (PCR), hybridization, sequencing, microarray, and others. PCR dominates the market due to increased use and advances in PCR techniques are some of this segment's highest impact rendering drivers.

By Application

The market has been segmented into genetic tests, infectious diseases, oncology, and others based on application. In 2019, infectious disease testing dominated the market for molecular diagnostics due to the relapse of infectious diseases, including new multidrug-resistant TB, H1N1, and HIV strains.

By End-User

By end-user, the market has been divided as hospitals & clinics, diagnostic laboratories, and others. The increasing demand for early diagnosis of numerous diseases has increased the funding for advanced diagnostic laboratories, which means that the segment is likely to see significant growth.

Regional Analysis

The regionally based analysis of the Global Molecular Diagnostic Market has been conducted in the Americas, Europe, Asia-Pacific and the Middle East and Africa.

North America Dominates the Market with Superior Healthcare Infrastructure

During the forecast period, the Americas is projected to dominate the global market for molecular diagnostics. The growing geriatric population and the implementation of new health facilities in the region are attributable to this. North America leads the market because of the existence of a well-established diagnostic system, technical advancements, patient awareness, and the presence of innovative technologies in the area of molecular diagnostics..

Growing R&D Investments Drive the Europe Market

During the forecast period, the European market for molecular diagnostics is expected to be the second-largest. The availability of R&D funding and growing government support for the life sciences sector are expected to boost market growth in this region.

Growing Outsourcing Of Clinical Trials to APAC Drives the Market Growth

Asia-Pacific is estimated to be the fastest-growing market due to developing economies like China, India and South Korea emerging as major destinations for the outsourcing of clinical trials, drug manufacturing and pathology testing. In addition, the study being done in the area has strengthened the healthcare system.

Growing Awareness Towards Molecular Diagnostics Solutions Drives the MEA Market Growth

During the review period, the molecular diagnostics market in the Middle East & Africa is expected to experience steady growth. Increasing expenditure on healthcare to provide better healthcare facilities will increase the growth of the market in the coming years. It is expected that increasing awareness and accessibility of advanced molecular diagnostics solutions will further boost the growth of the molecular diagnostics industry in the region.

Competitive Landscape

Acquisitions of established, advance Diagnostic labs to be the primary tactics adopted by leading players

Companies active in the molecular diagnostic industry plan to strengthen their global reach through authorization by government agencies, partnerships, strategic mergers & acquisitions with other market leaders in their respective territories and regions around the world

December 2020: Naveris, a healthcare company dedicated to improving patient care through early detection of virus-related cancers, announced the closure of its expanded Series A funding, bringing the total amount raised to more than $19 million since its inception.

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