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Tuesday 23 April 2019

Optical Imaging Market 2019 Global– Key Players, Size, Trends, Growth- Analysis To 2023

Optical imaging is a non-invasive technique in which light is used to interrogate cellular and molecular function in the living body by exploiting the special properties of photons. This market is mainly driven by rising demand for non-invasive procedures, harmful effects of radiation-based imaging, increase in research and development activities in the life sciences sector, and increasing application of optical imaging techniques in drug discovery processes and preclinical research, Moreover factors such as rising geriatric population which leads to increase in cardiovascular, neurological and ophthalmic disorders is also fueling the growth of this market.

The global optical imaging market is expected to be of value USD 1.92 Billion in 2023 and to grow at a depict 10% CAGR during the forecast period.

However, factors such as stringent regulatory approval procedures high costs of instruments, scarcity of skilled operators, and insufficient reimbursements policies for optical imaging procedures restrict market growth.

Segmentation

The global optical imaging market is segmented on the basis of products, techniques, therapeutic area, application, and end-user. Considering the type of product, the market is segmented into imaging systems, software, lenses, illumination systems, cameras and others. Imaging systems are further segmented into optical imaging systems and spectral imaging systems. On the basis of technique, the market is segmented into Optical Coherence Tomography (OCT), photoacoustic imaging, diffused optical tomography, hyperspectral imaging, near-infrared spectroscopy, and super-resolution microscopy.

On a therapeutic area basis, it is segmented into neurology, oncology, ophthalmology, dentistry, cardiology, dermatology, and others. On account of application, the market is segmented into pre-clinical and clinical research, pathological imaging and intraoperative imaging. According to the end-user, the market is segmented into diagnostic imaging centers, hospitals and clinics, research laboratories, and pharmaceutical &biotechnology companies. Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. Americas region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.

Key players

Jude Medical, Inc.
Carl Zeiss Meditec AG
Bioptigen, Inc.
Canon Inc
Heidelberg Engineering, Inc.
Topcon Corporation
Perkinelmer, Inc.
Koninklijke Philips N.V.
Agfa-Gevaert N.V.

Regional Market Summary

In terms of geography, Americas dominates the market for optical imaging owing to increasing prevalence of cardiovascular, neurological and ophthalmic disorders about rising geriatric population which is a major trigger factor for this disease. Additionally, factors such as increasing government initiatives and funding for research in medical devices sector, rising demand for accurate diagnosis, awareness about adverse effects of radiation imaging, ability to provide in-depth images of soft tissues and vascular systems and presence of pharmaceutical giants key players also propel the market growth in this region. For instance, according to National cancer institute, in 2016, around 1,685,210 new cases of cancer were diagnosed in the U.S. Thus, this huge patient pool is going to boost up the market growth during the forecast period.

Europe is the second largest market and holds a healthy share in the global optical imaging market due to major driving factors like availability of advanced treatment facilities, increasing healthcare expenditure, good healthcare infrastructure and flourishing medical device industry due to the presence of major market players. Additionally, knowledge about the benefits of optical imaging over radiation imaging and capability of inhabitants to afford the diagnostics is spurring the market growth.

Asia Pacific is expected to be the fastest growing market with most promising growth possibilities. According to a report published by the department of neurology in 2014, it is estimated that for the current population of 1.27 billion, approximately 30 million people suffer from neurological disorders in India. Thus, owing to the huge patient pool, a faster adaptation of healthcare technology, government initiatives to increase the healthcare quality, availability favorable insurance policies market growth will be accelerated during the forecast period. Moreover, due to lower cost of clinical trials and research key players have been setting up their regional headquarters and manufacturing plants in Singapore, China, Japan, Korea, and Australia which make a positive growth curve in optical imaging market in future.

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Monday 22 April 2019

Heart Tumor Market Global Sales, Revenue, Price and Gross Margin Forecast To 2023

Heart Tumor Market Scenario

Cardiac tumors is a rare disease that aredifficult to diagnose. They are divided on the basis of type into primary and secondary tumors. The prevalance of the secondary tumors is higher than the primary tumors. Majority of the primary cardiac tumors are benign in origin. The high incidences of metastatic tumors is attributed to various types of cancers such as lung, breast, renal cancer, lymphomas and melanomas. Clinical manifestations of these tumors generally based on the size and location of the tumors and spread to the adjacent tissues rather than the type of the tumor itself. Echocardiography is the major tool used for diagnosis of the tumors. Other imaging modalities include cardiac MRI, cardiac CT, and 3D echocardiography, which may offer some additional information with histological examination.

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According to the surgery and autopsy reports, primary cardiac tumors are rare with an incidence rate of about 0.3%-0.7%. Malignant primary cardiac sarcomas are usually located in the right atrium of the heart and are most commonly angiosarcomas. The malignant primary cardiac tumors are often diagnosed in young patientswho have a poor prognosis and survival rate of only 10% According to the WHO, the prevalence of melanoma skin cancers has been increasing from the past few decades. Furthermore, 132,000 melanoma skin cancers cases are reported each year across the globe.
A small percentage of cardiac tumor cases are hereditary, the tumors can also be associated with another health condition, such as LAMB Syndrome, Carney Syndrome or NAME Syndrome. However, most often, the tumor develops without being associated with any health condition or presence of a family history. They result from cell overgrowth but mostly cardiac tumors results from metastatic condition, where cells from other cancerous organ such as lung and breast, soft-tissues and metastasizes to the heart.

The Global Heart Tumor Market is expected to grow at a CAGR of approximately 7.1% during the forecast period 2017-2023.

Heart Tumor Market Key Players

Some of key the players in the Global heart tumor market are Tomtec Imaging Systems GmBh, Koninklijke Philips N.V., Siemens Healthineers, Circle Cardiovascular Imaging Inc., Toshiba Corporation, Shimadzu Corporation, CardioComm Solutions Inc., Integer Holdings Corporation, Pie Medical Imaging, HeartSciences, 3mensio Medical Imaging, and eMedica, S.L.

Heart Tumor Market Segmentation

The heart tumor is segmented on the basis of type, diagnosis, treatment.

On the basis of the type, the market is segmented into primary tumors and secondary tumors. The primary tumors are divided into benign and malignant. The benign tumors is further categorized into myxoma, papillary heart tumors, fibromas, rhabdomyomas, angioma, and lipomas. The malignant tumors are divided into rhabdomyosarcoma, mesenchymomas, neurosarcoma, fusiform cell tumors, malignant heart hemangioma, and lymphosarcoma. The secondary tumor is categorized into metastatic and contiguity. The metastatic secondary tumors are divided into hematogenic and lymphatic and the contiguity is sub categorized into mediastinal tumors, lung tumors and oesophageal, or cardia tumor.

On the basis of the diagnosis, the market is classified into echocardiogram, Computed Tomography (CT) scan, Magnetic Resonance Imaging (MRI), radionuclide imaging, Position Emission Tomography (PET) Scan, myocardial biopsy, cardiac catherization, and electrophysiology test.

On the basis of the treatment, the market is classified into surgery, chemotherapy, radiation therapy. Furthermore, the surgery is further categorized into open heart surgery, minimal invasive surgery, and heart transplant surgery

International Heart Tumor Market Regional Analysis

The global heart tumor market consists of four major regions: the Americas, Europe, Asia Pacific, and the Middle East and Africa. The Americas dominate the market owing to the rising awareness among people and increasing healthcare expenditure. The type of tumors also aids in selection of treatment procedure. For instance, in patient with heart cancers, the results of cardiac imaging could be used to see if the the tumor is spread to the adjacent tissues, which can be further used to remove the portion by performing excision surgery or pursuing treatment with medications.

The growing demand for outpatient surgeries and increasing preference of specialized cardiac imaging devices are some of the major factors intended to cost-effective technology, which further drives the demand for heart tumor treatment in the European region.
Increasing prevalence of metastatic tumors, which require surgical procedures and growing medical tourism in Asia Pacific region are favoring the growth of this market. According to the WHO estimate, 75% of the cardiovascular diseases occur are in low and middle income regions including Asia Pacific and the Middle East and Africa regions.

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Global Hirsutism Treatment Market 2019: Industry Key Players, Share, Trend, Applications, Forecast to 2023

Market Scenario:

Global Hirsutism treatment market is expected to grow at the CAGR of ~13.6% during the forecast period and is estimated to reach USD 5295.0 million by 2023.

Increasing procedures, growing awareness of treatments, increasing personal care expenditure, and technological advancement are major factors for the market growth. Increasing R&D and new product development are also important factors for market growth.

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Hirsutism is a condition of excessive, unwanted, and male-pattern hair growth in women. Hirsutism results in unwanted hair growth on body areas such as face, stomach, back, and chest. About 5% of US women have hirsutism.

Key players

AbbVie Inc. (US)
Allergan (Republic of Ireland)
Bayer AG (Germany)
Bristol-Myers Squibb Company (US)
Jubilant Cadista (US)
Pfizer Inc. (US)
Sun Pharmaceutical Industries Ltd. (India)

Segments:
Global hirsutism treatment market has been segmented on the basis of type which comprises of idiopathic hirsutism, secondary hirsutism, and others.

On the basis of diagnosis, the market is segmented into blood tests, imaging tests, physical examination, and others. Blood tests sub-segmented into testosterone level test, DHEA-sulfate test, and others. Imaging test sub-segmented into ultrasound, CT scan, and others. Physical examination sub-segmented into inspection, auscultation, palpation and percussion, and others.

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

On the basis of treatments, the market has been segmented into medications, procedures, and others. Medication is sub-segmented into oral contraceptives, anti-androgens, topical cream, and others. Procedures include electrolysis, laser therapy, and others.

Regional analysis:

Considering the global scenario of the market, America is holding the largest market share. The Americas are second largest hirsutism treatment market, especially developed North America region is holding the largest market share not only in America but also in global hirsutism treatment market. While UK is believed to be the fastest growing market for hirsutism treatment in European region. Factors like technological advancement, and increasing demand for treatments are leading the growth for this region. Europe is the second largest market for hirsutism. Due to Increasing awareness, rising healthcare expenditure, availability of affordable healthcare facilities, Asia Pacific is fastest growing region in global hirsutism market. Middle East and Africa contributes least market share and expected to grow slower than global average growth rate.

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Huge Growth and Opportunities in Global Defibrillators Pads Market Till 2023

Market Scenario:

The defibrillators pads market is expected to register a CAGR of 5% during the forecast period. Defibrillation is a procedure that involves the delivery of an electric shock to the heart which causes depolarization of the heart muscles and re-establishes normal conduction of the heart’s electrical impulse. To increase the efficacy of automated defibrillator, pads are attached to them which directly touches victim’s chest and delivers a shock to them. The gel present in the pads acts as a bonding agent and helps the AED pads to adhere firmly to the victim’s skin thus, increasing its efficacy.

The global defibrillators pads market is majorly driven by the increasing number technical advanced devices, increasing number of regulatory approvals, rising geriatric population, abuse of alcohol, the high prevalence of cardiac diseases such as ventricular fibrillation, ventricular tachycardia, and cardiac arrhythmias, and growing penetration of key market players. Furthermore, the increasing awareness of healthcare, favorable reimbursement policies, increasing innovations in research and development of medical devices, as well as rising average income of individuals are fueling the market growth. However, factors such as high cost of defibrillators pads and complicated and costly surgical procedures involved in implantation defibrillators are likely to hamper the growth of the market. Lack of proper healthcare infrastructure, as well as awareness regarding diseases such as cardiac arrhythmia and tachycardia in middle-income countries, are major challenges to the market growth.

Key Players:

Medtronic
Cardiac Science Corporation
Koninklijke Philips N.V.
Boston Scientific Corporation
Stryker Corporation Biotronik SE & Co. KG.
Defibtech, LLC.
Mindray Medical
Nihon Koden Corporation
Cardinal Health

Market Segmentation:

The global defibrillators pads market is segmented on the basis of product, age group, distribution channel, and end-user. According to products, the market is segmented into manual external, manual internal, automatic external, and others

Considering the age group, the market is segmented into pediatric defibrillator pads and adult defibrillator pads.

According to the distribution channel, the market is segmented into online pharmacy, retail pharmacy, hospital pharmacy, and others.

On account of end-user, the market is segmented into pre-hospital services, hospitals & clinics, alternate care facilities, public access market, and home healthcare services market.

Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. Americas region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.

Regional Analysis:

Americas is the global leader for defibrillators pads market owing to increasing prevalence of cardiovascular diseases among adults and older population and rising more elderly population which increases the vulnerability to hypertension and obesity issues which are indirect causes of heart disease. Additionally, factors such as increasing government initiatives and funding for research, development in advanced medical treatment options, and rising demand for technologically advanced treatment are likely to enhance the growth of defibrillators pads market in the American region. For instance, according to American Heart Association, in 2014, around 31% of the deaths in the U.S. were due to cardiovascular disorders. Similarly, according to stats presented in reports published by the Centers for Disease Control and Prevention, heart disease is the most common cause of death and accounted for the death of about 366,000 people in 2015. This growing rate of cardiovascular disorders is expected to have a direct effect on the growth of the defibrillators pads market as it finds whole and sole application in cardiovascular disorders.

Europe is the second largest market and holds a healthy share in the global defibrillators pads market. The European market is expected to grow at a sturdy growth rate during the forecast period due to major driving factors like availability of advanced treatment facilities, increasing healthcare expenditure along with growing need for better healthcare infrastructure and government initiatives of healthcare reform. For instance, according to 2017 statistics presented by the European Society of Cardiology, there were more than 6 million reported new cases of cardiovascular diseases in the European Union and more than 11 million in Europe as a whole. Additionally, every year 15% of deaths in Europe occur due to cardiovascular diseases. Hence cardiovascular disease being one of the major concern in Europe contributes significantly to the market growth of this region. Additionally, Europe spent around 210 Euros in 2015 for treatment of cardiovascular disorders. This rising healthcare expenditure due to cardiovascular disorders is expected to have a positive impact on the defibrillators pads market. Developed countries such as the U.S. and the U.K. are making it compulsory for certain sports arenas, schools, government facilities, and institutes to store and maintain Automated External Defibrillators (AEDs), as unavailability of defibrillators is the most common cause of sudden cardiac arrest.

Asia Pacific is expected to be the fastest growing market. According to report published by the United Nations in 2015; between 2015 and 2030, the number of older persons aged 60 years or over in the world is predicted to grow by 56 %, out of which 66% of the older population would reside in Asia-Pacific regions. This makes the region prone to metabolic disorders that would further aid the chances of cardiovascular diseases. Owing to the huge patient pool, a faster adaptation of healthcare technology, government initiatives to increase the healthcare quality, favorable insurance and reimbursement policies, and key players such as Boston Scientific Corporation and Medtronic have been setting up their regional headquarters and manufacturing plants in Singapore, China, Japan, Korea, and Australia. This is accelerating the growth of the defibrillators pads market. Moreover, raising adaption of western culture has led to increasing sedentary lifestyle due to work culture, addiction to alcohol and smoking, consumption of fast foods which are the indirect causes of cardiovascular diseases and rise in the standard of living in the region also contributes to defibrillators pads market growth. However, on the other hand, factor such as lack of skilled healthcare professionals may slow down the market growth during the forecast period. For instance, according to the Global Burden of Disease Report in 2016, heart diseases is expected to lead to 1.7 million deaths in India. This rising prevalence of heart diseases is expected to propel the growth of the market.

The Middle East & Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access and availability of treatment facilities. In the Middle East, United Arab Emirates is the largest market share owing to the development of healthcare industry and rising availability of specialty care centers.

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Huge Growth and Opportunities in Global Male Breast Cancer Market Till 2023

Market Scenario:

Although breast cancer is common in women, even men suffer from the same. Men also have breast tissues and cancer starts when these tissues start to grow out of control. The breast ducts and glands present in men are not functional, but cancer in these areas can spread when cancer cells enter the blood or lymph system and are carried in the whole body. Men who have suffered from cancer before and undergone radiation therapy are at a high risk of suffering from male breast cancer. The rising geriatric population and an increasingly obese population resulting in high levels of estrogen in males are expected to drive the growth of the market during the forecast period. According to an article published by the National Cancer Institute in April 2018, most of the men who suffer from breast cancer are 60 to 70 years old. Additionally, the rising healthcare expenditure is likely to boost the market growth. On the other hand, lack of knowledge of the disease and high cost of treatment may hinder the growth of the market during the forecast period.

Numerous factors such as increasing obese population and growing geriatric population are expected to drive the growth of the market. For instance, in July 2017, the Bristol-Myers Squibb Company announced a broad clinical collaboration with Clovis Oncology for evaluating the combination of cancer drugs Nivolumab and Rucaparib in Phase 2 and Phase 3 clinical trials in multiple tumor types.

Moreover, favorable healthcare expenditures boost the growth of the market. However, lack of knowledge and the high cost of treatments may hamper the market growth during the assessment period.

The global male breast cancer market is expected to grow slowly at a CAGR of ~ 3.6% during the forecast period from 2018 to 2023. Male breast cancer is caused when the breast tissues of males start growing out of control and become cancerous.

Key players

Achieve Life Sciences, Inc., Pfizer, Eli Lilly and Company, Bristol-Myers Squibb Company, F. Hoffmann-La Roche, Sanofi, Novartis AG, BioNumerik Pharmaceuticals Inc., Seattle Genetics, Inc., GlaxoSmithKline plc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., AstraZeneca, Accord Healthcare, and Bayer AG are some of the key players in the global male breast cancer market.

Segmentation

The global male breast cancer market has been segmented into type, diagnosis, and treatment.

The market, on the basis of type, has been segmented into, ductal carcinoma in situ, Paget’s disease of the nipple, inflammatory breast cancer, and infiltrating ductal carcinoma.

The market, by diagnosis, has been segmented into, mammography, biopsy, PET scan, CT scan, MRI scan, and other tests. On the basis of diagnosis, biopsy is anticipated to record the largest growth owing to its accuracy of diagnosing the disease. It is also expected to be the fastest growing segment.

By diagnosis, biopsy is further segmented into, fine needle aspiration biopsy, core biopsy, and excisional biopsy.

The market, by treatment, has been segmented into, local treatments and systemic treatments.

By treatment, local treatments are further segment into, surgery and radiation therapy.

Surgery is further segmented into, mastectomy, breast-conserving surgery, and lymph nodes biopsy.

By treatment, systemic treatments are further segmented into, chemotherapy, hormone therapy, and targeted therapy.

Hormone therapy is further segmented into, using drugs and orchiectomy (castration).

Chemotherapy is further segmented into, adjuvant therapy and neoadjuvant therapy.

Targeted therapy is further segmented into, for HER2 positive breast cancer, for hormone receptor-positive breast cancer, and for cancer with BRCA mutations.

The European male breast cancer 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 male breast cancer market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The male breast cancer market in the Middle East and Africa has been segmented into the Middle East and Africa.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The male breast cancer 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.

Regional Market Summary

Geographically, the Americas is anticipated to dominate the global male breast cancer market owing to the changing lifestyle and rising prevalence of breast cancer. According to an article published by, the American Cancer Society in April 2018, the lifetime risk of getting breast cancer in men is approximately 1 in 833. Europe is expected to hold the second largest position in the global male breast cancer market. The market growth in this region is attributed to the growing prevalence of rare cancers, the availability of funds for research, and increasing healthcare expenditure. According to the Cancer Research UK, 371 new cases of male breast cancer were reported in 2015 in the UK.

Asia-Pacific is anticipated to be the fastest growing region in the market due to the rising awareness regarding early symptoms of cancer and government support for healthcare facilities. According to a study published by the European Society for Medical Oncology in January 2016, there were 4.3 million new cases of cancer in China in 2015.

On the other hand, the Middle East and Africa has the least share of the market. Majority of the market of this region is expected to be held by the Middle Eastern region due to growing government initiatives for the healthcare sector.

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Huge Growth and Opportunities in Global Bone Growth Stimulator Market Till 2023

Market Scenario:

Bone Growth stimulators are devices that are used to boost the healing process during the treatment of the ailments such as spinal fixation, orthopedic fixation. Bone growth stimulators works on all kinds of fractures such as fresh fractures, fractures healing slowly or not at all, fractures with an elevated risk. It can also be used as supportive therapy after surgery on a fracture and in corrective osteotomy.

Global Bone Growth Stimulator Market is expected to grow significantly over the forecast period. The market held a market value of USD 1,213 million in 2017 and is projected to grow at a CAGR of 5.86% over the forecast period.

Bone Growth Stimulator enhances the healing process by stimulating the production of new cells, which will allow your fracture to heal considerably faster. Bone growth stimulators are the perfect treatment approach when patient is not comfortable with the surgical procedure and wants to avoid it. Also, as it fastens the healing process, it helps patients get back to their feet quickly. Bone growth stimulators have revolutionized the treatment of bone fractures and spinal fusions and are becoming an important tool in the healing process. Advantages over surgical procedures, faster recovery time, and increasing patient preference are some of the factors contribute to the growth of the bone growth stimulator market.

Key players:

Arthrex, Inc., Bioventus LLC, Depuy Synthes (A Subsidiary of Johnson & Johnson), DJO Finance LLC, Harvest Technologies (A Terumo BCT Company), Isto Biologics, Medtronic PLC, Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc. are some of the key players in the global bone growth stimulator market.
Segmentation:
The Global Bone Growth Stimulator Market has been segmented into Product, Application and End user.Based on products, the market has been segmented into, bone growth stimulation devices, bone morphogenetic proteins, platelet-rich plasma, and others. The bone growth stimulation devices segment is further segmented into, external bone growth stimulators, implanted bone growth stimulators, and ultrasonic bone growth stimulators among which external bone growth stimulators include pulsed electromagnetic field devices, capacitive coupling devices, and combined magnetic field devices. The Bone Growth Stimulation Devices segment is expected to account for the largest share in the global bone growth stimulator market in 2017. This large share is majorly attributed to the wider acceptance of the devices, and better patient compliance as compared to other techniques.

On the basis of application, the market has been segmented into spinal fusion surgeries, delayed union & non-union bone fractures, oral and maxillofacial surgeries, and other. The spinal fusion surgeries segment is expected to account for the largest share in the global bone growth stimulator market in 2017.On the basis of end users, the market has been segmented into hospitals & clinics, home care, academic and research institutes, and others. The hospitals & clinics segment is expected to account for the largest share in the global bone growth stimulator market in 2017. At the same time, the increasing establishments of the home care services in the developed and developing countries has led this segment to grow at the fastest rate during the forecast period.

Based on the regions, the market for bone growth stimulator is segmented in to, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Bone Growth Stimulator Market in the Americas region has further been segmented into North America and South America, where-in the North American market is further divided into the US and Canada. European Bone Growth Stimulator Market has been segmented into Western Europe and Eastern Europe where-in Western Europe region is further divided into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Bone Growth Stimulator Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The bone growth stimulator market in the Middle East & Africa has been segmented into regions such as the Middle East and Africa.

Regional Market Summary:

Geographically, the Americas is anticipated to dominate the global bone growth stimulator market owing to the rising prevalence of the orthopaedic and spinal ailments such as bone fractures, and spinal damage among others. The development of the better therapeutic approaches and advanced treatment procedures have affected the growth of the American market in a positive way. Moreover, increasing rate of the spinal fusion procedures, growing patient population for the orthopaedic fixation procedures, high awareness among American population, high disposable income, are some of the many factors that drive the growth of the bone growth stimulator market in this region.

Europe is expected to hold the second largest market share in the global bone growth stimulator market. The market growth in this region is majorly attributed to the increasing government support for the device manufacturers. Geographical expansion of companies has led to the wider reach of the medical products and services which has brought a huge change in terms of the acceptance and implementation of the new products as well as procedures. Similarly, Asia-Pacific region has observed a rapid growth in the bone growth stimulator market owing to the development in the medical sector in developing countries like India and China. Moreover, increase in government funding for healthcare, rising R&D expenditure, and growing number of medical device companies in the region has led to its fastest growth during the forecast period. The Middle East and Africa region is anticipated to show minor growth opportunities in the bone growth stimulator market during the forecast period.

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Global Bone Implant Market Trends, Demand and Forecast to 2023

Market Scenario:

Bone implants are used to heal bone fractures or as fillers and scaffolds to facilitate the bone formation. Bone implants are surgically placed into the body and designed to restore the function by replacing or reinforcing a damaged structure. The rapid growth in aged population, increasing number of orthopedic surgeries, and rising occurrences of sports-related injuries are expected to drive the growth of the market. Moreover, rising R&D spending and aggressive strategies adopted by top players such as new product launches are contributing to the growth of the market. For instance, in May 2018, NN Inc. acquired Paragon Medical for USD 375 million. Paragon Medical is a medical device manufacturer which focuses on orthopedics, case and tray, and implant and instrument markets. The acquisition supports NNs Inc.’s strategy to grow its life science revenue and positions NN Inc. as one of the ten largest contract manufacturers in orthopedics.

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The rising cost of orthopedic surgeries, the high price of bone implant products, corrosion and instability of bioimplants, and stringent government policies may hinder the growth of the market during the assessment period.

The Global Bone Implant Market is expected to grow during the forecast period (2018–2023) at a CAGR ~6.8%.

Key Players

Some of the key players in the global bone implant market are Depuy Synthes Inc. (Johnson & Johnson), Globus Medical, Inc., NuVasive, Inc., Smith & Nephew plc. , Stryker Corporation, Zimmer Biomet Holdings, Inc., Integra LifeSciences Holdings Corporation, Medtronic, plc, The Orthopedic Implant Company, Wright Medical Group N.V., Aesculap Implant Systems, BioTek Instruments, Inc., Conmed Corporation, Arthrocare Corporation, and others.

Segmentation

The global bone implant market has been segmented on the basis of biomaterial, product, application, device, and end-user.

On the basis of biomaterial, the market has been classified as metals, ceramics, and polymers. The metal segment has been further divided into titanium, stainless steel, cobalt chromium alloy, gold alloys, and Tantalum. The ceramics segment has been further divided into alumina, hydroxyapatite, beta-tricalcium, phosphate, carbon, bioglass, zirconia, and zirconia-toughened alumina. The polymers segment has been classified into polymethylmethacrylate, polytetrafluoroethylene, polyethylene, polysulfone, polyurethane, and polyether ether ketone.

The market, by products, is divided into orthopedic screws, orthopedic plates, interlocking nails (rods), and others. The market, by application, has been classified into hip orthopedic implants, knee orthopedic implants, spine orthopedic implants, dental orthopedic implants, and others.

The market, by device, is divided into external fixators and internal fixators.

The market, by end-user, has been segmented into orthopedic clinics, hospitals, and others.

Regional Market Summary

The Americas is likely to dominate the global bone implant market. The rising occurrence of osteoarthritis and osteoporosis in the aging population, increase in the number of surgical procedures, the presence of a well-established healthcare system, growing prevalence of sports injuries, and adoption of highly advanced technology are contributing to the growth of the market. According to the Annual Report of the American Joint Replacement Registry (AJRR), 860,080 hip and knee replacement procedures from 4,755 surgeons at 654 institutions were conducted in 2017.

Asia-Pacific is expected to be the fastest-growing bone implant market during the forecast period owing to the increasing prevalence of medical tourism, orthopedic diseases along with bone-related issues, and rising investments in healthcare and expansions by market players in the region. Asia-Pacific is anticipated to show significant growth from 2018 to 2023

The European market is expected to be the second-largest bone implant market. The market growth in this region can be attributed to the rising prevalence of orthopedic diseases. Moreover, the increasing demand for orthopedic implants and spinal treatment devices during the forecast period are contributing to the growth of the market in this region. Major players are adapting inorganic growth policies to expand their portfolio. For instance, Stryker Corporation, a major player in the orthopedic market acquired Vexim for USD 215 million in 2017. Vexim offers spine related products, which helped Stryker Corporation to capture the new segment.

The market in the Middle East and Africa is expected to account for the smallest share of the global bone implant market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.

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