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

 Market Synopsis:

Perfusion is a process of delivering oxygenated blood to all tissues. This technique is used in cardiac surgery where perfusion experts employ artificial blood pumps to thrust patients' blood through their body tissue by replacing the function of the heart while the cardiac surgeon operates. Perfusion can be used as chemotherapy technique for the treatment of melanoma occurring in arm or legs. With the help of this technique, flow of blood to and from the limb is stopped for a while by creating a band, and anticancer drugs are put directly in blood of the limb. This helps patients to receive a high dose of drugs in the area where the melanoma had occurred.    

Poor perfusion causes numerous severe health problems such as deep vein thrombosis and coronary artery disease. It has been observed that during major surgeries such as cardiothoracic surgeries and organ transplant, maintenance of perfusion is vital and to maintain this many preservation methods are being used. The two most important methods are machine perfusion (MP) and static cold storage (SCS). Although SCS is a highly adopted process for preservation, it is inefficient to maintain normal functioning of organs at high-risk. Hypothermic machine perfusion (HMP) has emerged as an effective solution to curb such problems. Every year more than one hundred thousand perfusion procedures are being performed around the globe.

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Major players in Perfusion market:

There are plenty of large and small market players which operate in this market. Some of them are  Getinge AB (Sweden), Medtronic (Ireland), LivaNova PLC (U.K.), Terumo Medical Corporation (Japan), XENIOS AG (Germany), Lifeline Scientific, Inc. (U.S.), XVIVO Perfusion (Sweden), Repligen Corporation (U.S.), Spectrum Laboratories, Inc. (U.S.), Merck KGaA (Germany), Harvard Bioscience, Inc. (U.S.), Ala Science (U.S.) and others.

Regional Analysis:

Considering the global scenario of the perfusion market, there are four main regions namely America, Europe, Asia Pacific, and Middle East & Africa.

The Americas mainly includes North America and Latin America. North America is holding the largest market share. Increasing demand of organ transplant, cardiothoracic surgeries and advanced healthcare facilities are driving the growth of the North America perfusion market. European region is the second important market, especially West European countries which are dominating this region. Eastern European countries are also showing significant growth in this market. This is due to the increasing expenditure on healthcare and related services along with government’s initiative for organ donations, this has led to a rapid growth in this market in the Asia Pacific region. Talking about the perfusion market scenario in Middle East & Africa, these regions are expected to have limited growth in the global market of perfusion. Middle East accounts for the largest market share while Africa region is growing steadily.

Segmentation:

Global perfusion market has been segmented on the basis of type which comprise of cardiopulmonary bypass, extracorporeal membrane oxygenation, isolated limb perfusion and others. Cardiopulmonary bypass is further sub-segmented into heart-lung machines, oxygenators, perfusion pumps, monitoring systems, cannulas, and other components.

On the basis of application, it is segmented into lungs, heart, liver, kidneys and others.

On the basis of device type, the market has been segmented into hypothermic machine perfusion, normothermic machine perfusion and others.

On the basis of end user, it is segmented into hospital, specialty clinics, medical research centers, academic institutes, and others. 

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Intravenous Immunoglobulin (IVIg) Market – Insights on Emerging Scope 2027

 Global Intravenous Immunoglobulin (IVIg) Market is growing moderately. IVIg is concerned with the treatment of patients who have weak immune system. Human body produces enough antibodies to fight infection-causing germs, but if patients is suffering from immune deficiency then body can’t produce enough of them. The increasing demand for alternate immunoglobulin replacement therapies, new innovations, increasing R&D funding, developing healthcare infrastructure and increasing healthcare expenditure are major driving forces of the market. The Global Intravenous Immunoglobulin (IVIg) market is growing at a CAGR of 6.30% during the forecast period and expected to reach USD 10,485.86 Million by 2023.

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Study objectives of Global Intravenous Immunoglobulin (IVIg) Market:

• To provide detailed analysis of the Global Intravenous Immunoglobulin (IVIg) market structure along with forecast for the next 7 years of the various segments and sub-segments of the IVIG Market
• To provide insights about the key drivers and restraints that affecting the growth of the IVIg market
• To provide detail analysis of global IVIg market mainly based on Value chain analysis, PROTER’s five forces, Price analysis, and Supply Chain analysis etc.
• To provide revenue of the market that includes historical as well as forecast revenue, on the basis of segments and sub segments with respect to four main geographies and their countries- Americas, Europe, Asia-Pacific, and Middle East & Africa.
• To provide detail analysis of the market that segmented on the basis of type, application, and its sub-segments.
• To provide detail country level analysis of the market with respect to the current market size and future prospective
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global IVIg Market
• To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

Intended Audience

• Intravenous Immunoglobulin (IVIg) medicines manufacturers and suppliers
• Government and Independent Regulatory Authorities
• Medical Research laboratories
• Research and Development (R&D) Companies
• Market Research and Consulting Service Providers
• Potential Investors

Segments:      

Global Intravenous Immunoglobulin (IVIg) Market has been segmented on the basis of type which comprise IgA (sub segments- IgA1 and IgA2), IgD, IgE, IgG,. On the basis of application it segmented into CIDP (Progressive, Recurrent, Monophasic), Hypogammaglobulinemia (sub segments- AGM1, AGM2, AGM3, AGM4, AGM5, AGM6), Multifocal Motor Neuropathy, Immunodeficiency diseases (sub segments- X-linked agammaglobulinemia (XLA), common variable immunodeficiency (CVID), severe combined immunodeficiency), Primary Humoral Immunodeficiency (Subsegments- B cell (antibody) deficiencies, T cell deficiencies, Combination B and T cell deficiencies, Defective phagocytes, Complement deficiencies, Unknown (idiopathic)), Myasthenia Gravis (Sub segments- generalized myasthenia gravis, ocular myasthenia gravis, Congenital myasthenia gravis, Transient neonatal myasthenia gravis), Guillain-Barre syndrome (Sub segments- Acute inflammatory demyelinating polyradiculoneuropathy (AIDP), Miller Fisher syndrome (MFS), Acute motor axonal neuropathy (AMAN)and acute motor-sensory axonal neuropathy (AMSAN)), Kawasaki disease, ITP (Sub segments- acute and chronic), and others.

Regional Analysis of Global Intravenous Immunoglobulin (IVIg) Market:                   

Considering the global scenario of the market, North America is believed to be the largest market for Global IVIg. Moreover the European market, especially Western Europe is growing and second largest market for Global IVIg. On the other hand, Asia-Pacific is expected to grow at significant rate in the Global IVIg market during the forecasted period. Middle East and Africa is likely to have a limited but steady growth in the market, particularly market in North Africa is growing as compared to South and East region of Africa due to less awareness of these therapies and treatment.  

Key Players for Global Intravenous Immunoglobulin (IVIg) Market:         

Some of the key players in this market are: ABEONA THERAPEUTICS (US), Baxter (US), BDI Pharma (US), Biotest AG.(Germany),, China Biologic Products, Inc. (China), CSL Behring (US), Grifols Inc. (Spain), Kedrion S.p.A (us), Octapharma (Switzerland), Shire (Republic of Ireland), AND others. The report for Global Intravenous Immunoglobulin (IVIg) Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions

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Market Research Future Releases New Report on the MEA Diabetes Market 2027

 The Middle East and Africa Diabetes Market has been evaluated as rapidly growing market and it is expected that the market will continue to grow similarly in the near future. This chronic disease can lead to severe medical conditions such as stroke, heart attack or kidney failure. From last two decades, the prevalence of diabetes has increased rapidly in Middle East and Africa region and about 10% of the population is suffering from diabetes. Due to lack of body activity or exercise and eating unhealthy and junk food are leading the growth for the market. In countries like Saudi Arabia, Kuwait, Bahrain, Qatar and UAE, about 24%, 23%, 22%, 20% and 19% of population is affected by this disease respectively. These countries are among the countries with the highest prevalence of this disease. Many countries are facing the burden of diabetes is mostly because of ageing population while in this region, diabetes is rising in all age groups. Large portion of younger population is suffering from diabetes which is very serious problem and burden on healthcare system of Middle East and Africa region. Type 2 diabetes is most common type of diabetes in this region and it is observed to be most common in men than women. Increasing number of diabetes patients is key driver for the market. Rising middle class population, increasing per capita income results into increasing expenditure on healthcare services is leading to the growth of the market for diabetes in this region. Top class healthcare infrastructure and facilities, technological advancement and availability of skilled medical professionals plays an important role in growth of this market. Government initiatives and commitment to improve public health are also key drivers for the market. Pharmaceutical and device manufacturer companies are focusing on this market and spending money in R&D to deliver innovative product for the patients which can help them to capture maximum market share.

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Middle East and Africa Diabetes Market was about US$ 11.6 billion in 2016 and is expected to reach US$ 16.4 billion by 2023 at a CAGR of 5.1%.

Middle East and Africa Diabetes Market Players:

There are plenty of large and small market players which operate in Middle East and Africa diabetes market are: Abbott (US), Bayer AG (Germany), Becton Dickinson and Company (US), Johnson & Johnson Services, Inc. (US), Merck & Co., Inc. (US), Novartis AG (Switzerland), Novo Nordisk A/S (Denmark), Roche Diabetes Care, Inc. (US), sanofi-aventis U.S. LLC (US), Ypsomed (Switzerland)

Regional Analysis:

Considering the scenario of the Middle East and African diabetes market, Saudi Arabia is believed to be the largest market for diabetes. Moreover the UAE is also growing and is the second largest market for Middle East and Africa Diabetes. On the other hand, Egypt market is expected to grow at significant rate in the Middle East and Africa diabetes market during the forecasted period. Rest of Middle East and Africa is likely to have a limited but moderate growth in the market.

Segmentation:

Middle East and Africa Diabetes Market has been segmented on the basis of type which comprise Type 1, Type 2, and Gestational diabetes. On the basis of test, market is segmented into Random blood sugar test, Fasting blood sugar test, Oral glucose tolerance test, Initial glucose challenge test and others. On the basis of devices, it is segmented into Blood glucose monitoring devices, Diabetes management devices, and others. On the basis of treatment market is segmented into Medications, Insulin therapy, Transplantation, Bariatric surgery and others.

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Chronic Disease Management Market Detailed Industry Report Analysis 2020-2027

 According to the latest research reports, the global chronic diseases management market size is predicted to reach USD 4000 Million in the year 2018 and it is predicted to register a CAGR of 14.5% during the forecast period. Chronic disease management consists of a predefined set of actions focused primarily on delivering high-quality healthcare and improving patients' quality of life. Chronic illness management Solutions include a wide range of solutions, such as recommendations for chronic diseases self-management model of chronic illness conditions, multidisciplinary treatment, and lifestyle counseling to raise knowledge about various diseases.

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One of the primary factors anticipated to fuel the rise and demand for chronic disease treatment is the global increase in the prevalence of chronic diseases such as COPD, asthma, cancer, diabetes, stroke, or musculoskeletal problems. Furthermore, from 2021 to 2028, the global chronic kidney disease management market is anticipated to grow due to a growth in the number of people with chronic diseases and a rise in awareness of nutritional management of chronic kidney disease. Similarly, rising degrees of digitalization integration in healthcare systems and facilities and an increase in the geriatric population are expected to drive market expansion. Furthermore, better service provider offerings have increased demand for chronic disease management services, which are likely to be key contributors to the chronic disease management market growth. The fast increase in the medical tourism sector, as well as the fast rise in healthcare IT solutions, which have driven the development of chronic disease management services, are projected to provide substantial growth possibilities for the chronic disease management market from 2021 to 2028.

This report contains all the information on the global chronic diseases management market trends, research, and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global chronic diseases management market statistics and forecast to 2026 is also included in the report.

Covid 19 Analysis

The vast majority of funds and resources have been dedicated to the containment of the new coronavirus epidemic, which remains uncontrollable despite the global lockdown. This issue is delaying therapy for those suffering from chronic illnesses. The COVID-19 epidemic, on the other hand, has increased the usage of different digital platforms that assist individuals to obtain better access to medical treatment, which can be beneficial to the care management industry and increase demand for chronic illness management solutions.

Market Dynamic

Drivers

Growing awareness of the importance of life-threatening diseases, as well as rising healthcare spending, are the major drivers driving the growth of the worldwide chronic diseases market size. According to the World Health Organization (WHO), chronic illnesses would account for nearly three-quarters of all fatalities globally by 2020, with ischemic heart disease accounting for 71% of fatalities and diabetes accounting for 70%.

The integration of digital technology into healthcare systems in developed nations increased awareness about the significance of chronic and life-threatening illnesses, and rising healthcare expenditures are projected to drive the worldwide chronic illness management market during the projected period.

Opportunities

In the future, the global chronic disease management market is expected to be fueled by the use of digital technologies and rising IT healthcare services.

Restraints

Non-compliance and a lack of adherence among patients are expected to restrict the growth of the chronic disease management market, while a shortage of technically trained experts and workforce necessary for the treatment of these illnesses may provide a barrier to the industry's expansion.

Challenges

Non-compliance and a lack of adherence among patients are expected to restrict the chronic disease management market's growth, while a shortage of technically trained experts and labor necessary for the treatment of these illnesses might provide a challenge to the market's expansion.

Cumulative Growth Analysis

According to the Centers for Disease Control and Prevention, chronic illnesses affect 6 out of 10 individuals in the United States. Furthermore, according to the National Association of Chronic Illness Directors, chronic disease consumes over 75% of all healthcare expenditures in the United States each year. In terms of public insurance, chronic illness treatment accounts for an even greater amount of expenditures, accounting for 96 cents on the dollar for Medicare and 83 cents on the dollar for Medicaid. The chronic care management market is growing as a result of a large amount of money spent on chronic diseases in healthcare.

According to the National Center for Biotechnology Information, chronic illnesses such as cancer, cardiovascular disease, chronic respiratory disease, diabetes, and mental illness account for 855 fatalities in the European Union. Furthermore, cancer-related healthcare costs in European Union member states accounted for 6% of overall healthcare spending in 2015.

Value Chain Analysis

According to the reports, the global chronic disease management market has been segmented into solution, delivery mode, application, end-user, and region.  The market has been divided into solutions such as instructional solutions, implementation solutions, consulting solutions, and others. The market has been categorized based on application into safety arthritis, cardiovascular disease, cancer, diabetes, and others. The market has been divided into three segments depending on delivery mode: cloud-based, on-premises, and web-based. The market has been divided into three segments based on end-user: providers, payers, and others.

The market has been divided into four regions: the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Chronic Disease Management market in the Americas has been further subdivided into North America and Latin America, with North America split into the United States and Canada. The European Chronic Disease Management market is divided into two sections: Western Europe and Eastern Europe. Western Europe is further subdivided into Germany, France, the United Kingdom, Italy, Spain, and the rest of Western Europe. The Asia-Pacific chronic illness management market has been divided into Japan, China, India, Latin Korea, Australia, and the rest of Asia-Pacific.

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Medical Billing Market Registering a Strong Growth by 2027

 Medical billing is payment practice which involves receiving payments, submitting bills and following up for payments. Factors that influence the growth of medical billing are, increasing expenditure in healthcare, increasing use of internet, increased need for risk and compliance management, increasing digitalization in healthcare industry and many more. Increasing use of Information technology in maximum sectors will also boost the growth of this market. Increasing patient population due to various diseases, payment process involved in medical billing will be more efficient which in turn will boost the growth of the market and medical billing improves cash flow resulting increase in the growth of the market. On the other hand, privacy concerns are the major factor which may hinder the growth of the market. The global medical billing market is expected to grow at a CAGR of 6.5% during forecasted period.

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Medical sector is continuously evolving sector. New technologies like information technology are being continuously being exploited for the ease in workflow. All these provided favourable backgrounds for the market growth. Factors such as increasing healthcare expenditure, rising use of the internet, growing need for risk and compliance management followed by the increasing digitalization in healthcare industry, and others are driving the market growth. Moreover, increasing patient population due to various diseases fuels the global medical billing market. However, privacy concerns are the major factor which may hinder the growth of the market.

Global Medical Billing Market - competitive analysis

Accenture (US), TCS (India), AGS Health (India), Cognizant Technology Solutions (US), GeBBS Healthcare (US), Genpact (US), HCL Technologies (India), Medusind (India), and others are some of the prominent players at the forefront of competition in the Global Medical Billing Market and are profiled in MRFR Analysis. 

Characterized by the presence of several well-established and small players, the global market of medical billing appears to be highly competitive and fragmented. International players are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing.  The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.

Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

In January, 2018- Accenture  entered into an agreement to acquire Germany-based Mackevision, a leading global producer of 3D-enabled and immersive product content. The acquisition will add state-of-the-art visualization capabilities to Accenture Interactive digital services portfolio – strengthening its ability to create compelling, next-generation customer experiences and industrial, extended reality applications. However, financial terms of the transaction are not disclosed.

In July- 2016- Cognizant acquired Idea Couture, a privately-held firm that offers a broad range of digital innovation, strategy, design and technology services. However, the terms of the transaction were not disclosed.

In September, 2017- Genpact, a global professional services firm focused on delivering digital transformation for clients, acquired TandemSeven, a Boston-headquartered company that delivers customer and digital experience innovation consulting using design thinking at its core. TandemSeven’s ability to design better customer experiences complements Genpact’s digital capability aimed at transforming business processes end-to-end. Terms of the deal were not disclosed.

In April, 2016- HCL Technologies Limited signed an agreement to acquire   all of the business of Geometric Limited, except for the 58% stake that Geometric owned in the joint venture- 3DPLM Software Solutions Ltd., with Dassault Systèmes. In consideration of this acquisition, HCL issued 10 equity shares of Rs. 2 each to Geometric shareholders for every 43 equity shares of Geometric of Rs. 2 each held by them. In total, HCL will issue 15,640,546 equity shares of Rs. 2 each. Geometric is one of India’s leading PLM consulting, mechanical engineering and manufacturing engineering services providers.

Global Medical Billing Market - regional analysis

The Global Medical Billing Market is segmented on the basis of regions, into North America, Europe, Asia-Pacific, and the Middle East & Africa. North America accounts for the largest market share of the Global Medical Billing Market by region in 2016. High per capita healthcare expenditures followed by increasing global burden of the diseases and presence of the developed healthcare sector are the major drivers for the market growth during the forecast period. Following the similar trends, Europe holds the second largest market. Asia pacific is estimated to be the fastest growing region in the presence of the developing economies like India and China. Moreover, rapidly growing information technology fuels the market within the region. However, the Middle East and Africa region holds the least share of the global market, especially due to the presence of the poor economies and stringent government policies within the African region. In the Middle East & African region, the Middle East holds the largest market share.

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Lancet and Pen Needles Market Volume Analysis, Size, Share and Key Trends 2020-2027

 

Market Overview

Wearable Medical Device Market will make a jump from USD 7859.4 Mn in 2017 to over USD 27,200 Mn by 2023, suggests MRFR (Market Research Future).Wearable medical device market forecast has been presented in the report, with MRFR experts keeping a tab on all the latest developments and trends that can impact the growth scope.

COVID-19 Analysis

With the COVID-19 outbreak and the pandemic escalating globally, there has been a considerable shortage of essential medical devices as well as supplies. The novel coronavirus is taking up most of the healthcare’s attention and the rising SARS-CoV-2 cases, as well as the consequent lockdown, are proving to be a huge challenge.

The pandemic has boosted the demand for digital health wearables with remote monitoring and telehealth emerging as the best ways to deal with the lockdown and travel bans. Wearable medical device companies are also focusing on accelerating the manufacturing process to develop an extensive range of wearable therapeutic devices. The medical device market research companies have also boosted their efforts in terms of R&D activities and are now more focused on strengthening their supply chains across the world.

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Market Segmentation

The wearable medical devices market has been segmented into applications, types, device types, and distribution channels. Based on the segment which is applications, the market is categorized on the basis of home healthcare, remote patient monitoring, and sports academies and fitness. The global market for wearable medical device is further segmented based on types into activity monitors, patches, smart clothing, and smart watches. Furthermore, the market, on the basis of device types is segmented into diagnostic & monitoring devices and therapeutic devices. Based on the segment which is distribution channels, the market is categorized on the basis of hypermarkets, online channels, and pharmacies.

The global wearable medical devices market research report covers all the aspects of the wearable medical device market based on the segmental analysis of these applications, types, device types, and distribution channels segments. Analysts have also studied the global wearable medical device market's regional markets spread across many continents and countries. The applications, types, device types, and distribution channels segments along with their sub-segments have been analyzed and companies functioning in the wearable medical devices market across these segments are profiled and analyzed based on input and feedback from wearable medical device market-based decision makers as well as primary and secondary sources. The wearable medical device market research report presents analysis based information for companies functioning in the wearable medical device market.

Regional Overview

The high rate of cyber-attacks and threats may hinder the wearable medical devices market growth. The market research report suggests that companies in the wearable medical device industry could be supported by ailments requiring continuous tracking and monitoring as well as the integration of healthcare data with medical devices during the forecast period. The wearable medical device market is set to register growth at a high CAGR owing to these key factors. The wearable medical device industry is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global wearable medical device market research report reveals that APAC, North America, and Europe regional wearable medical device markets will dominate the global market for wearable medical device during the forecast period 2018 to 2023. As per wearable medical device market analysts, the market is set to witness tremendous growth across smart watches, therapeutic devices, remote patient monitoring, and online channels segments in North America which covers wearable medical device markets across the United States, Canada, Mexico and several other regional markets. Companies active in the wearable medical device market are also analyzed and studied in the wearable medical device industry research report.

The wearable medical device market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the wearable medical devices market research report covers the Asia-Pacific region covering wearable medical device markets from India, China, Japan, Australia, and others. The wearable medical devices market is also spread across the rest of the world. The wearable medical device market report covers all such regions including the Middle East, Africa, Brazil, and others.

Competitive Landscape

Wearable medical device has seen increased demand over the years, due to the increase and complexity of data in the healthcare industry and focus on developing solutions to integrate AI (Artificial Intelligence) in wearable medical devices. Companies functioning in the global wearable medical devices market are also being challenged due to the rising superiority of cyber criminals and low awareness in developing countries. Mergers and acquisitions by wearable medical device industry companies are anticipated to help the market during the forecast period 2018 to 2023. As the wearable medical device market is set to register a high CAGR of 23% and is also anticipated to reach a US$27,200 million by 2023, the report highlights key areas companies need to focus on. The report suggests that the wearable medical device industry will see a healthy growth in the long run till 2023. Based on SWOT analysis and wearable medical device market’s analysis based on Porters’ Five Force Model presented in the wearable medical device industry report. Mergers and acquisitions by wearable medical devices market companies are anticipated to help the market during the forecast period 2018 to 2023. 

Industry News

Preventice Solutions, a manufacturer of wearable heart monitors for remote patient control, is expected to be purchased by medical technology company Boston Scientific for $925 million, including up to $300 million in future commercial milestones. Due to Boston Scientific's current 22 percent equity interest in Preventice, such price tags equate to $720 million in cash and a possible $230 million in Boston Scientific payments. The contract is supposed to be completed by the end of 2021. According to the deal release, Preventice produced $158 million in net sales in 2020, a 30 percent improvement over its results in 2019.

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Medical Image Management Market Foraying into Emerging Economies 2020-2027

 Market Overview

The global medical image management market size is estimated to growr at 7.80% CAGR during the forecast period from 2018-2025. The market size of medical image management will increase up to USD 5971.28 Million. It is used for sharing data of patients and medical test results with physicians. It plays a primary role in making any clinical decision.

Medical images analyzing system helps to store high-quality electronic images and clinical reports. The medical image management systems allow the healthcare providers to give easy access and manage the unorganized data stored in several departments. It is a secure and befitting solution in the field of radiology, the study of reports, imaging archiving, etc.

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Segment Analysis

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. By end user, the global medical image management market has been classified 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 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.

Market Players

MRFR recognizes the following companies as the key players in the global medical image management market— GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers AG (Germany), McKesson Corporation (US), Sectra AB (Sweden), Agfa-Gevaert Group (Belgium), Carestream Health (US), Esaote SpA (Italy), Fujifilm Holding Corporation (Japan), and Novarad (US)

Key Findings of the Study

The Global Image Management Market was valued at USD 3,529.69 million in 2018 and is estimated to grow to USD 5,971.28 Million by 2025 at a CAGR of 7.80% during the assessment period

The Americas accounted for the largest share of the global market due to increasing prevalence of chronic diseases, rising adoption of healthcare IT by healthcare bodies, and an increasing number of medical imaging procedures performed.

Based on product, the vendor neutral archive (VNA) segment accounted for a market share of 6.33% in 2018

On the basis of the end user, the hospitals segment dominated the market and accounted for a share of 45.24% in 2018

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