Global Cruciate Ligament Diagnosis & treatment Market Show Steady Growth: Study 2027

 Market Research Future Adds The “Cruciate Ligament Diagnosis & treatment Market Report –Forecast Till 2027” Report To Their Unique Collection.

The cruciate ligament treatment includes numerous surgical techniques that involve reconstruction and replacement of the knee and related ligaments. The upsurge in obese population is considered as a chief factor emphasizing the growth of this market. Obesity in the aging population has been reported to directly increase the risk of degenerative bone disorders, such as osteoporosis and osteoarthritis, additionally resulting in target injury and fracture owing to the extra pressure exerted on joints. Later, increasing number of people who have osteoporosis is expected to generate demand for the market.

However, the lack of availability of skilled professionals and the high cost of treatment procedures may hinder the growth of the market during the forecast period.

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Many prominent players in the market have incorporated into acquisitions, mergers, and continuous launches of quality systems to hold the market position. The firms are focusing on mergers and acquisitions to enhance their product portfolio. For instance, the acquisition of Cayenne Medical by Zimmer Biomet was involved in reconstruction solutions and advanced soft tissue repair for knee, shoulder, and extremities. Besides, companies are involving into geographic expansions to cater to the untargeted population for tissue repair and surgeries.

Regional Analysis

The global cruciate ligament diagnosis and treatment market consists of four regions, namely, Americas, Europe, Asia Pacific, and the Middle East and Africa.

The American region holds the major share of the global cruciate ligament diagnosis and treatment market, owing to the existing well-established healthcare system, increasing prevalence of degenerative bone disorder cases, and technological advancements. Sports such as soccer, football, and skiing have been reported to be high-risk sports that can cause injury to the ACL when compared to other sports activities. For instance, due to increasing occurrences of ACL injuries, nearly 100,000 ACL reconstructions are performed each year as per a report published by PubMed.

Europe holds the second position in the global cruciate ligament diagnosis and treatment market. It is expected that the government support towards research and development expenditure and rising prevalence of chronic bone diseases are likely to drive the European cruciate ligament diagnosis and treatment market.

The Asia Pacific cruciate ligament diagnosis and treatment market consist of countries, namely, China, Japan, the Republic of Korea, India, Australia, and the Rest of Asia Pacific. Japan is the largest market for cruciate ligament diagnosis and treatment due to an increase in the prevalence of cancer and demand for cruciate ligament diagnosis and treatment techniques. In China, factors responsible for the market growth are rising geriatric population with osteoporosis diseases and availability of low-cost diagnostic and treatment options.  

The Middle East and Africa holds the lowest share of the global market due to low development, lack of technical knowledge, and poor medical facilities.

Segmentation

The global cruciate ligament diagnosis and treatment market is segmented on the basis of type, injury type, product, diagnosis, treatment, and end-user.

Based on type, the global cruciate ligament diagnosis and treatment market is classified as Posterior Cruciate Ligament (PCL) and Anterior Cruciate Ligament (ACL).

The segments for injury type for the global cruciate ligament diagnosis and treatment market are classified as grade I, grade II, and grade III.

On the basis of product, the global cruciate ligament diagnosis and treatment market is classified as cemented implants, cement-less implants, partial implants, and revision implants.

Based on indication, the global cruciate ligament diagnosis and treatment market is classified as osteoarthritis, rheumatoid arthritis, trauma, and others.

The diagnosis segment for the global cruciate ligament diagnosis and treatment market is classified as imaging and others. The imaging segment is further classified as abdominal x-ray, Magnetic Resonance Imaging (MRI), ultrasound, laparoscopy, angiography, and others.

Based on treatment, the global cruciate ligament diagnosis and treatment market is classified as surgery, therapies, devices, and others. Surgery can be further sub-divided into arthroscopy, Anterior Cruciate Ligament (ACL) reconstruction, and others. The therapies include rehabilitation and physical therapies. The devices include elastic bandages and others.

On the basis of end-user, the global cruciate ligament diagnosis and treatment market is classified as hospitals, orthopedic clinics, Ambulatory Surgical Center (ASC), and others.

Global Cruciate Ligament Diagnosis & Treatment Key Players

Stryker Corporation (U.S.), Arthrex, Inc. (U.S.), Zimmer Biomet (U.S.), DePuy Synthes, Inc. (U.S.), CONMED Corporation (U.S.), Smith & Nephew plc. (U.S.), DJO Global Inc. (U.S.), Breg, Inc. (U.S.), Bauerfeind AG (Germany), Össur hf. (Iceland), DeRoyal Industries, Inc. (U.S.), BSN Medical GmbH (Germany), 3M Company (U.S.), Otto Bock Healthcare GmbH (Germany), THUASNE SA (France), medi GmbH & Co. KG (Germany), DeRoyal Industries Inc. (U.S.), Corin Group (UK), United Orthopedic Corporation (Taiwan), Exactech Inc. (U.S.), Japan Medical Dynamic Marketing (Japan), Tornier Inc. (U.S.), and others are some prominent players in this market.

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Impact of Existing and Emerging Global Dissolvable Sutures Market Trends And Forecast 2020-2027

 Global dissolvable sutures market is expected to gain prominence over the forecast period (2018-2023). It is estimated that the global dissolvable sutures market is expected to grow at a CAGR ~5.2 % during the forecast period of 2018–2023.

Dissolvable sutures are stitches that doctors and surgeons, use to hold skin, internal organs, blood vessels, and all other tissues of the human body together, after the injury, incision, or surgery. These sutures have an anticipated advantage as they are broken down in the body tissue after a given period, and no foreign material left inside the patient's body. 

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The market growth is attributed to the increasing aging population, rising occurrence of chronic diseases, increasing healthcare expenditure, growing number of surgeries and burns, and increasing number of hospitals. According to the WHO, an estimate of tens of million people are injured or disabled worldwide every year in road accidents. Additionally, immense technological advancements in material science and increasing occurrences of musculoskeletal diseases are likely to boost the market growth during the forecast period.

Despite the drivers, the development of advanced wound care dressings and availability of alternatives such as surgical staplers and complications such as hemorrhage and leakage, especially in esophageal and colonic anastomosis are a few factors restraining the growth of the dissolvable sutures market. Furthermore, stringent government regulations and increasing preference for minimally invasive surgical procedures are the constraints limiting the market growth.

Research Methodology

Market Research Future research is conducted by industry experts who offer insight into industry structure, market segmentation, Treatment assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments & categories geographically presented are studied and are estimated based on primary & secondary research.

• Primary Research

The extensive primary research was conducted to gain a deeper insight of the market and the industry performance. In this particular report, we have conducted primary surveys (interviews) with the key level executives (VP, CEO's, Marketing Director, Business Development Manager and many more) of the major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.

• Secondary Research

Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the global dissolvable sutures market. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, & developments related to the market and Treatment Perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, the international organization of chemical manufacturers, some paid databases and many others.

Global Dissolvable Sutures Key Players

1. Braun Melsungen AG, Boston Scientific Corporation, DemeTECH Corporation, ENDOEVOLUTION LLC, Hu-Friedy Mfg. Co., LLC, Internacional Farmacéutica S.A. De C.V., Johnson & Johnson Services, Inc., Medline Industries, Inc., Medtronic, Péters Surgical, Roboz Surgical Instrument Co., Smith & Nephew, Surgical Specialties Corporation, and Sutures India Private Limited are prominent players in the global dissolvable sutures market.

Segmentation

The global dissolvable sutures market is segmented on the basis of type, application, and end-user.

On the basis of type, the market is classified as natural dissolvable sutures and synthetic dissolvable sutures. Natural dissolvable sutures are further segmented as catgut plain sutures and catgut chromic sutures. Synthetic dissolvable sutures are further sub-segmented into polyglycolic acid sutures - coated and braided suture, polyglactin 910 sutures - coated and braided suture, poliglecaprone sutures - monofilament suture, and polydioxanone sutures - monofilament suture.

The global dissolvable sutures market on the basis of application is segmented into cardiovascular surgeries, general surgeries, gynecological surgeries, orthopedic surgeries, ophthalmic surgeries, and others.

The global dissolvable sutures market on the basis of end-user is segmented as ambulatory surgical centers, hospitals, clinics, and others.

Geographically, the global dissolvable sutures market has been segmented into America, Europe, Asia Pacific, and the Middle East and Africa. The American dissolvable sutures market is further segmented into North America and South America. North America is further classified as the U.S. and Canada.

The European dissolvable sutures market is segmented into Western Europe and Eastern Europe. Western Europe is further classified as Germany, France, the U.K., Italy, Spain, and the Rest of Western Europe.

The Asia Pacific dissolvable sutures market is segmented into Japan, China, India, the Republic of Korea, Australia, and the Rest of Asia Pacific.

The Middle Eastern and African dissolvable sutures market is segmented into the Middle East and Africa.

Regional Market Summary

The global dissolvable sutures market consists of four regions, namely, Americas, Europe, Asia Pacific, and the Middle East and Africa. North America holds the highest market share in the global dissolvable sutures market owing to the higher adoption of technologically advanced products for surgical procedures in the region, increase in the prevalence of various chronic diseases, and the development of the wound management sector. In addition, according to the Centers for Disease Control and Prevention, in 2015, an approximate 2.8 million people were hospitalized due to injuries in the United States.

Europe holds the second position in the global dissolvable sutures market. The availability of funds for research, huge patient population, increasing healthcare expenditure, and government support for research and development drive the European market. For instance, according to the National Statistics in 2015, the healthcare spending in the U.K. reached 271.6 USD billion in 2015 from 262.2 USD billion in 2014. Furthermore, the presence of developed countries such as Germany and the U.K. within the region is expected to fuel the market growth during the forecast period.

Asia Pacific is experiencing the fastest growth for the global dissolvable sutures market owing to the increasing prevalence of cardiac diseases, rising obese pool, increasing cases of burns, and geriatric population. India and China dominate the market for dissolvable sutures in the Asia Pacific region. According to the World Health Organization, over 1,000,000 people are moderately or severely burnt every year in India. Additionally, the availability of significant growth opportunities for prominent players due to improved healthcare infrastructure, rise in healthcare awareness, and development in the medical tourism industry are also contributing to the growth of the market.

The Middle East and Africa holds the lowest share of the global market due to low development, lack of technical knowledge, and poor medical facilities.

Industry Insights

April 2017, Medtronic Plc signed an agreement to divest a portion of its patient monitoring and recovery division to Cardinal Health for 6.1 USD billion. In this agreement, the company intends to include 17 dedicated manufacturing facilities among the product line such as dental/animal health, chart paper, wound care, incontinence, electrodes, and sharp safety offerings.

Moreover, the Surgigut gut sutures by Medtronic are made up of purified connective tissue derived serosal layer of bovine intestines. The other Medtronic dissolvable sutures include VELOSORB fast braided absorbable sutures, CAPROSYN monofilament absorbable suture, and POLYSORB braided absorbable sutures.

January 2016, Surgical Specialties Corporation acquired FSSB Chirurgische Nadein GMBH, a German manufacturer of surgical needles and sutures. With the acquisition, the company expanded its surgical products portfolio. Moreover, in September 2015, Smith & Nephew launched NASASTENT Dissolvable Nasal Dressing, a structural intranasal splint for use in sinus surgery.

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Pain Management Market 2020 Analysis, Industry Size, Share Leaders, Current Status by Major vendors and Trends by Forecast to 2027

 The global pain management market size is expected to gain prominence over the forecast period (2018–2023). It is estimated that the pain management market is expected to register a CAGR of 6.0% during the forecast period of 2018–2023.

Pain is considered as a clinical, social, and economic burden in communities around the world, as chronic pain is associated with various health conditions. The increasing prevalence of pain pushes the demand for better diagnosis and treatments.

Notably, the market is expected to expand in the near future due to increasing technological advancements. The increasing occurrences of chronic pain conditions are continuously motivating marketers to come up with more technologically advanced products. For instance, a new noninvasive neuromodulation device, Stimpod NMS460 was introduced by the Xavant Technology to treat the chronic intractable pain. The device has received an FDA approval on August 01, 2017.

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According to a study published in the Current Pain and Headache Reports Journal in 2016, it was found that Peripheral Nerve Stimulation (PNS) is a widely accepted treatment procedure for chronic pain. The StimRouter neuromodulation system by Bioness, Inc is a PNS technology-based device specifically designed to treat chronic pain. The device received the FDA approval in 2015.

Various other factors such as increasing geriatric population, improved reimbursement policies in developed countries, the increasing prevalence of cancer pain, improving regulatory framework, growing research funding, unmet medical needs, rising competition among market players, and increasing government assistance are continuously contributing to the growth of the global pain management market.

Despite these drivers, there are some issues associated with the pain management market. The high cost associated with the technology, lack of skilled or trained physicians, and poor healthcare system in low and middle-income countries may hamper the growth of the market.

Key Players

Some of the key players in the global pain management market are Abbott Laboratories, Abbvie, Allergan, Astellas Pharma, AstraZeneca plc, Bayer AG, Codman And Shurtleff, Inc, DJO Global LLC, Eli Lilly & Company, Endo Health Solutions, F. Hoffmann-La Roche Ltd, Forest Laboratories, GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Mallinckrodt plc, Medtronic PLC, ST. Jude Medical, Inc., Boston Scientific Corporation, Pfizer Inc., Halyard Health, Inc., Smiths Medical, B. Braun Melsungen AG, Neurotech Na, Inc., Becton, Dickinson and Company, Nevro Corp., Merck & Co. Inc., Novartis AG, Purdue Pharma LP, Sanofi, Stryker Corporation, Teva Pharmaceuticals, and others.

Intended Audience

• Pharmaceutical Companies
• Medical Devices Companies
• Research and Development (R&D) Companies
• Government Research Institutes
• Academic Institutes and Universities

Segmentation

The global pain management market is segmented on the basis of type of pain management devices, type of pain management drugs, indication, mode of purchase, and end-user.

On the basis of type of pain management devices, the market is classified as neurostimulation devices, analgesic infusion pumps, and ablation devices. The neurostimulation devices are further segmented into Transcutaneous Electrical Nerve Stimulation (TENS) devices and Spinal Cord Stimulation (SCS) devices. Ablation devices are further segmented into RF ablation devices and cryoablation devices.

On the basis of type of pain management drugs, the market is classified as Non-Steroidal Anti-Inflammatory Drugs (NSAIDS), anticonvulsants, anesthetics, opioids, antimigraine agents, antidepressants, and others. The opioids segment is further classified as oxycodones, hydrocodone, tramadol, morphine, codeine, fentanyl, meperidine, methadone, and others.

On the basis of indication, the market is classified as neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, fibromyalgia, chronic back pain, arthritic pain, migraine, post-operative pain, and others.

On the basis of the mode of purchase, the market is classified as over the counter and prescription-based.

On the basis of end-user, the market is classified as hospitals and clinics, pharmaceutical companies, medical device companies, research and academic institutes, and others.

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Obesity Treatment Market Current Trends, SWOT Analysis, Strategies, Industry Challenges, Business Overview and Forecast Research Study 2027

 Obesity is a disorder characterized by an excessive amount of body fat. The medical condition not only generates cosmetic concerns but is also related to various diseases and health problems, including heart diseases, diabetes, and others. A variety of treatment options are available in the market for obesity treatment, which ranges from medications to surgeries. Growing obese population and increasing acceptance of bariatric surgeries are expected to be the major drivers for the market growth during the forecast period. The Monash University stated that Australia recorded a burgeoning number of bariatric surgeries in 2015, accounting for approximately 15,000 procedures within the region. Moreover, the increasing demand for minimally invasive surgeries, rising awareness, and favorable reimbursement policies are expected to boost the market growth during the forecast period. However, factors such as high cost of surgery followed by the risks of infection and anesthesia allergy and low healthcare expenditure in the middle and low-income countries are estimated to restrain the market growth during the forecast period. According to a study published in the Obesity Surgery Journal in 2017, the mean total cost for bariatric procedures such as gastric bypass or adjustable gastric banding was estimated to be around USD 14,389.

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The Global Obesity Treatment Market is expected to grow at an approximate CAGR of 16.7% during forecast period.

Intended Audience

• Pharmaceutical Companies
• Biotechnological Institutes
• Government and Private Laboratories
• Research and Development (R&D) Companies
• Medical Research Laboratories
• Market Research and Consulting Service Providers

Segmentation

The global obesity treatment market is segmented on the basis of type, diagnosis, treatment, and end-user.

On the basis of type, the market is segmented into inactivity obesity, food obesity, anxiety obesity, venous obesity, atherogenic obesity, and gluten obesity. On the basis of diagnosis, the market is categorized into blood tests, physical examination, and others. The blood tests segment is sub-segmented into cholesterol test, liver function test, thyroid test, and others. The physical examination segment is sub-segmented into heart rate measurement, blood pressure measurement, and others. On the basis of treatment, the market is segmented into medication, surgery, lifestyle changes, and others. The medication segment is sub-segmented into orlistat, lorcaserin, phentermine and topiramate, liraglutide, and others. The surgery segment is sub-segmented into gastric bypass surgery, Laparoscopic Adjustable Gastric Banding (LAGB), gastric sleeve, biliopancreatic diversion, gastric sleeve, and others. On the basis of end-user, the market is segmented into hospitals, clinics, pharmacies, and others.

Key players

Some of the key players for the global obesity treatment market are VIVUS, Inc. (U.S.), Arena Pharmaceuticals, Inc. (U.S.), F. Hoffmann-La Roche, Ltd. (Switzerland), Novo Nordisk A/S (Denmark), Orexigen Therapeutics, Inc. (U.S.), Allergan (Republic of Ireland), Cousin Biotech (France), EnteroMedics, Inc. (U.S.), Johnson & Johnson Services, Inc. (U.S.), Medtronic (U.S.), USGI Medical, Inc. (U.S.), Mediflex Surgical Products (U.S.), Covidien plc (Republic of Ireland), Olympus Corporation (Japan), and others.

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Kidney Stone Market: Drivers, Restraints, Opportunities, and Threats (2020-2027)

 The Global Kidney Stone Market is expected to grow at 4.6% CAGR and reach USD 2,508.01 Million till 2025. Kidney stones are formed in an individual’s kidneys when ordinary substances in the urine turn out to be excessively concentrated. At the point when this happens, waste material can remain in the kidney or may move down through the urinary tract, eventually passing out from the human body. The factors that are anticipated to propel the growth of the global kidney stone market are rising incidence of urolithiasis, inadequate nutrition intake, and minimally invasive procedures. However, the adverse effects of extracorporeal shock wave lithotripsy hinder the growth of the market during the forecast period.

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Market Dynamics

Growing incidences of urolithiasis and minimally invasive procedures are the factors that drive the growth of the global kidney stones market. Urolithiasis causes the development of kidney stones in the urinary system. To treat this disorder, various procedures are used, of which the minimally invasive procedures are the most preferred. Further, the success rate for minimally invasive treatment procedures is 75–100%, depending on the size and the shape of the stones as well as the kidney anatomy. The market for minimally invasive procedures is proliferating due to the increasing expenditure and clinical advantages over conventional treatment routines.

Additionally, urolithiasis is the reason for forming stones in the kidney, bladder, and urethra (urinary tract). Kidney stones are a reason for blood in the urine and pain in the mid-region, flank, or groin. Kidney stones are found in 1 in 20 individuals sooner or later in their life. The major risk factors for kidney disease incorporate high blood pressure, diabetes, and history of kidney failure within the family that are majorly found in individuals that are age 60 or older. For instance, according to the National Kidney Foundation, globally, more than 73 million adults have high blood pressure, and 29 million adults have high diabetes, which are the major reasons for urolithiasis.

Segmentation

Based on type, the global kidney stone market has been segmented into calcium oxalate stones, uric acid, struvite kidney stones, cystine stones, and calcium phosphate stones. Calcium oxalate stone is the leading segment and is expected to reach USD 1751.63 million by the end of 2025. The large market share of calcium oxalate stone is due to the rising cases of dehydration, hypernatremia, hypercalciuria, and hyperuricosuria.

The global kidney stone market, based on treatment type, has been segmented into medications, extracorporeal shock wave lithotripsy, ureteroscopy, and percutaneous nephrolithotomy. The ureteroscopy segment is likely to register the fastest growth rate of 4.6% during the forecast period owing to providing an unobstructed view of the urinary tract, take out suspicious-looking tissue, and break up stones.

The global kidney stone market, based on diagnosis, has been segregated into ultrasound, intravenous pyelography, CT scan, X-ray, and others. The ultrasound segment is expected to hold a significant market share during the forecast period owing to the popularity, good anatomical detail of the kidney in a short timeframe, with no exposure to radiation.

Regional Analysis

The global kidney stone market is mainly categorized as North America, Europe, Asia-Pacific, and the Middle East & Africa.

North America is likely to dominate the global kidney stone market with a market share of 43.9% owing to the maximum occurrence and reoccurrence of kidney stones in the US. For instance, according to the report published by the British Association of Urological Surgeons in 2018, the prevalence of kidney stone in the US was 10.7% in 2017.

Europe accounted for the second-largest market share in 2018 due to the increased funding and growing adoption of the technology within the region. Asia-Pacific is expected to contribute to the market growth for kidney stone during the forecast period owing to rising therapeutic demand and rapidly evolving healthcare sector. On the other hand, the Middle East & Africa is expected to observe slow growth due to low per capita disposable incomes, lack of awareness, and less exposure to healthcare services in this region.

Kidney Stone Market Key Players

The prominent players in the global kidney stone market are Boston Scientific Corporation, Convergent Laser Technologies, DirexGroup, Siemens Healthcare GmbH, C.R. Bard Inc, Cook Medical Inc, Dornier MedTech GmbH, Richard Wolf Medical Instruments Corporation, Olympus Corporation, and Stryker Corporation.

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

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Genetic Testing Market Is Seeing Explosive Growth by Future Industry Winners: Forecast, 2020-2027

 According to the analysis conducted by Market Research Future (MRFR), the Global Genetic Testing Market is projected to thrive at a CAGR of 11.50% and is expected to acquire a market value of USD 22,834.19 Million by 2024.

Genetic testing is used in prenatal screening, diagnostics, and as a predictive tool. The testing market is predicted to propel due to the on-going development in the field to produce useful testing kits. Overall, the market is likely to experience significant expansion due to its growing requirement, rising acquisitions, and partnerships among key players.

The outbreak of COVID-19 has severely impacted the market. The worldwide lockdown to follow social distancing resulted in various challenges in the genetic testing market. COVID-19 resulted in the shutdown of testing labs and clinics, which has restricted face-to-face genetic counseling that is likely to impact the market negatively.

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Market Dynamics

The growing demand for genetic testing in oncology and the rising adoption of genetic tests into clinical care is predicted to propel the global genetic testing market during the projection tenure. The surging need for personalized medicine is another salient cause that can augment the genetic testing market size.

However, concerns regarding the standardization of genetic testing-based diagnostics and strict rules implemented for product approvals are expected to obstruct the market growth during the assessment period.

Drivers

Rising Prevalence of Genetic Disorders

The rising awareness about the benefits of genetic testing and the increasing prevalence of genetic disorders are primary drivers for the growth of the market.  The increasing need to find a cure to cancer is expected to create a demand for effective testing that can augment the global cancer testing market. Additionally, the rapid expansion of the biotechnology sector are expected to propel the market significantly in the assessment period.

Opportunities

Integration of AI in Testing Procedures

The integration of AI and other smart technologies in genetic testing is expected to offer various market expansion opportunities during the forecast period. Besides, the innovation in product design and strong distribution partnerships are other factors that can provide lucrative chances to grow the trade.

Restraints

Lack of Expertise to Hinder the Market Growth

Despite the presence of various lucrative opportunities that can grow the market, the shortage of trained technicians is a significant factor that can hinder the market in emerging economies.

Challenges

Lack of Medical Solutions for all the Diseases Diagnosed

The biggest challenge for the genetics market is the lack of solutions for all the diseases diagnosed. However, funded research in prognosis post the detection can counter the challenge mentioned above.

Cumulative Growth Analysis

The market is expected to expand rapidly during the forecast period due to the rising awareness of genetic disorders. The industry is anticipated to witness various opportunities for expansion in the coming period.

Market Segmentation

By Type

Prescribed Genetic Testing Segment to Hold Maximum Market Share

Based on type, the global genetic testing market has been segmented into direct to consumer genetic testing and prescribed genetic testing. Among all genetic testing market segments, the prescribed genetic testing market is anticipated to expand at the highest CAGR while acquiring the USD 21653.91 million market value by 2024.

By Method

Molecular Genetic Test/DNA Tests to Hold the Maximum Market Share

Based on the method, the global market has been segmented into chromosomal genetic tests, molecular genetic tests/ DNA tests, and biochemical, genetic tests. Among all, the molecular genetic/DNA tests is expected to lead the global market while thriving at a CAGR of 11.78% during the forecast period.

By Application

Reproductive Health Segment to Acquire the Largest Market Share

Based on application, the global market has been segmented into cancer screening, reproductive health, ancestry, predictive and pre-symptomatic testing, and others. Among all, the reproductive health segment is expected to dominate the market.

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Microfluidic Devices Market Size, Share, Demand, Financial Overview, Key Developments, Swot Analysis and Forecast to 2027

The term microfluidics can be defined as obtaining, preserving, screening, monitoring, and controlling fluids at a micro-level. The fluids obtained are very minute or scaled-down in quantity. The microfluidics device model is generally used to transfer, preserve, blend and separate the fluids for further testing in laboratories. This is done while the development of new cells or in the origination of medicinal drugs and injections. Microfluidics device cell capture is also needed to detect diseases and ailments such as cancer and tumors. Microfluidics testing can also be applied to gasses and other forms of chemicals. This technology has proven to be useful in many industries. The microfluidics device industry is flourishing because of its improved effectiveness and efficient handling of miniature particles.

The Microfluidic Devices market value is foreseen to shoot up to USD 14,296.04 Million by the end of the year 2024. It will grow at a CAGR of 19.70% throughout the forecast period. Let’s hope to see much growth in this market.

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COVID 19 Analysis

People across the globe are suffering from the covid19. This has weighed down the pathological labs for continuous testing and diagnosis of diseases so that they can be treated well in time. The government of every nation is investing a huge lump of their resources in research & development projects. This has made the labs and research centers more equipped than they were before.

As testing increased, a need arises for procuring and manufacturing more mobile microfluidics devices. This has made possible the rise in the sales of the point of care devices market which made possible the rapid testing of antigens.

Microfluidic Devices Market Dynamics

Drivers

The demand for genomics or complete strand of cells, and proteomes is increasing. This is the major driving force for the microfluidic devices market. The testing of microscopic cells has also become possible only with the help of microfluidic devices. As the quantity used and preserved for testing is very minute, it has made the handling less cumbersome and the results attained are quicker than primitive methods of testing

Opportunities

The major benefit of using microfluidic devices is that they use a very small quantity of chemicals which is under observation. It, altogether, lowers the cost of research. The microfluidic devices can also be connected wirelessly to cell phones. This is another boon of the advancement of scientific technology. Point of care testing is possible because of this feature.

Restraints

Businesses have to abide by the law of the land and cannot operate outside it. The rigid policies of medical authorities to provide standardized microfluidic devices may hinder the growth of the market globally. The raw material for manufacturing or assembling the testing equipment is expensive. This is another obstacle for the manufacturers of microfluidic devices.

Value Chain Analysis

Owing to unhealthy lifestyles resulting in deteriorating health, and moving up statistics of chronic diseases, it has become important to get a quicker diagnosis of diseases and finding the least hazardous cure for the same. The key players of the microfluidic devices market are launching devices, such as microfluidics device collagen gel, microfluidics device syringe pump, piezoelectric device microfluidics, microfluidics chromatography device, and others, that have made testing easier and more proficient.

Microfluidic Devices Market Segmentation

The global market of microfluidic devices can be divided into various segments. These are: based on industry, based on materials used, and based on application

Based on industry

This segment is further divided into in-vitro, or in a test tube, diagnosis, pharmaceutical products, and medical devices. In-vitro diagnosis alone had a market share of 50.6% in the year 2018. Pharmaceuticals are further sub-divided into chips that are used for lab analysis, accurate dispensing apparatus, and micro-reactors for drug synthesis. The medical devices include micro-pumps and dispensing systems, inhalers, micro-needles, etc.

Based on material used

Various kinds of materials used in the manufacturing of microfluidic devices are polymer, glass, silicon, and others. Polymer, as a material, is cost-effective and is easy to procure than glass or silicon. This is the reason why polymer holds the largest market share in microfluidic devices.

Based on application

The various places where microfluidic devices are installed or used are Pharmaceutical and Life Science Research institutions, Clinical and Veterinary Diagnostics labs, Point of Care Diagnosis and rapid testing centers, Drug manufacturing and delivery, Environmental and Industrial equipment, and others.

Microfluidic Devices Market Regional Analysis

Microfluidic devices market size is increasing with every passing day. It is leaving its impression in every corner of the world. The regions where they are operating include America, Europe, Asia-pacific, and the rest of the world.

America, which includes the area of North America (the US and Canada) and Latin America, eclipses above the share of all other regions. America is the largest consumer because of the increasing geriatric population, widespread infectious and chronic diseases. Larger investments in medical infrastructure by the authorities, and awareness among the general public, related to the unhealthy habits and their effects in long run, are the key driving factors.

The European region which includes Germany, UK, France, Russia, and Italy, has bagged the position of second-largest market share in the microfluidic devices market. This is because of the easy and cost-effective availability of raw material. Some of the major key players are also investing in these areas because of the ease of doing business.

Asia-Pacific region, which includes China, Japan, India, Australia, and South Korea, provides a huge market for microfluidic devices. It owns to the fact that the government of these countries is investing a large share of their resources in developing a robust medical infrastructure. This region will hit the largest CAGR throughout the period under analysis.

The rest of the world, which includes the region of the Middle East and Africa, is showing a constant but slow growth because of the limited resources with the government and lack of awareness among the general public. Low economic income is also another reason for inactive growth.

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