Healthcare – Page 4 – Latest Market Trends

Farm Management Software Market Will Reach Height of USD 4.22 billion billion By 2024

The global farm management software market is expected to reach USD 4.22 billion by 2025. The market is driven by factors such as proliferation of IoT, big data analytics and information & communication technology along with emphasis on cloud computing leading to recording and retrieval of real-time data management. In addition, rising population and enlarged demand for food worldwide coupled with government support to boost modern agricultural techniques is likely to boost the market growth in the forthcoming period. The farm management software market is expected to witness a CAGR of 16.7% in the forecast period.

The global farm management software industry witnesses several opportunities such as green initiatives for sustainable agriculture coupled with awareness in farmers for precision agriculture and pursuance of modern agricultural practices. However, rising food demands and farming challenges are likely to create hindrance in the market during the forecast period up to 2025.

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Farming systems are now embracing conceptual framework of web management to support farm production systems. The web management system is trifurcated into decision support sub-system, biophysical sub-system and decision support sub-system. In addition, the web system encompasses project management idea scoupled with model-view controller concepts. In reality, the farm management software supports the farmers with enhanced yield and productivity and farm efficiency is expected to gain a traction due to its proliferation worldwide. Big data plays a significant role in giving predictive insights, rebuilding business process and enabling real-time operational decisions for change in business models.

The farm management software industry segmentation includes agriculture, deployment model, application, service provider and region. Deployment segment dominates the farm management software market growth in the forthcoming period owing to rise in cloud-computing and is anticipated to witness a CAGR of 19.5% during the forecast period.

Geographical segmentation for farm management software industry spans North America, South America, Europe, Asia-Pacific, Europe, Middle East and Africa. North American and South American farm management software market is expected to gain positive traction in the near future. Factors such as rising demand for farm yield, favorable policies by government, demand for agricultural solutions, and inclination towards precision farming is likely to contribute to the market growth in the forthcoming period.

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European market is expected to gain a positive traction in the forthcoming period due to government support, increasing R&D activities pertaining to smart agriculture such as employing drones for enhanced production and building Aero Farms for better agriculture yield. Middle Eastern and African market is expected to gain a higher CAGR in the forthcoming period owing to rise in R&D activities, use of GPS signals and monitoring of real-time data.

The key players in the farm management software industry include Ag Leader technology; CropZilla Software, Inc. AB CropMetrics LLC, Granluar Inc, Dickey-John Corporation, The Climate Corporation; DeLaval; and Farm Edge, Inc. Big players are now offering technological assistance such as Big data analytics for smart farming whereas startups are expanding horizontally in the value chain service by providing insurance, consulting and advisory services.

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Coronary Stent Market Will Reach Height of USD 15.18 billion billion By 2024

The Global Coronary Stent Market is predicted to reach USD 15.18 billion by 2024 owing to factors include technological advancements, rising load of CAD, growing number of PCI procedures (percutaneous coronary intervention), increasing geriatric population and increasing demand for user-friendly procedures. A coronary stent is a miniature tube that is used to open a narrowed artery during the PCI (percutaneous coronary intervention) procedure. This treatment comprises insertion of balloon-tipped tube in the artery which is transported to the blockage location. The stent enlarges and forms a platform after the balloon inflates. This helps the artery to open and stabilize the blood flow to the heart. The Coronary stents are used in the treatment of cardiac disorders like angina pain, myocardial infarction and coronary artery disease. The Coronary Stent Market is expected to grow significantly with CAGR of 6.2% in the forecast period.

The Coronary Stent prevents the heart attack that is caused by the narrowing of coronary arteries. The stent is made of cobalt alloy or stainless steel tube and is attached to small balloons that support to proper blood flow and take care of the vessel wall. The coronary heart disease treatments comprise balloon angioplasty, pharmaceuticals, stenting of coronary artery bypass grafting. Stenting is regarded efficient for the heart patients in comparison to the bypass heart surgery. It is free of any major operation since it can be performed with the support of local low sedation and anesthesia.

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The main driver for the growth of coronary stent industry is the rising prevalence of heart diseases. Owing to the rising elderly population across globe, particularly in the developed economies, the market expects wide opportunities in the different parts of the world. Other factors that drive the market are the genetic diseases like obesity that is prevailing in all the age groups due to the changing unhealthy lifestyle and the technological advancements of bio-absorbable stents.

The main reason for maximum amount of deaths caused by the heart diseases across the globe is the CAD (Coronary artery disease). Nevertheless, the number of Coronary Artery Disease patients has decreased due to the increasing number of PCIs (percutaneous coronary interventions). This procedure makes use of wide range of coronary stents which again drives the industry growth. Besides, the expansion of BVS (bio resorb able vascular scaffold) and the emergence of the coronary stent market offer considerable growth opportunities. Moreover, the alternative treatment methodologies of CAD, numerous cases of product failure and strict regulations for product approval will restrict the market growth in the forthcoming years.

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The coronary stent industry is categorized on the grounds of product type, delivery modes, material, end-user and geographic region. On the grounds of product type, the market is divided into drug-eluting stents, bare-metal stents and bio absorbable stents. In the forecast period, the drug-eluting stents section is predicted to capture maximum share of the market. This is because the drug-eluting stents possess more benefits than the bare-metal stents and bio absorbable stents. The benefits can be stated as reduced risk of restenosis and other major disorders. On the grounds of delivery modes, the coronary stent market is divided into self-expanding stents and balloon-expanding stents. The balloon expandable stents is predicted to capture larger market share due to the factors like increasing regulatory approvals for balloon-expandable stents, greater use of these stents and growing research activities to enhance technology.

Geographically, the Coronary Stents Market is divided into Europe, North America and Asia, and the rest of the world. North America is estimated to capture comparatively larger market share followed by Europe. Asia is projected to capture the coronary stents industry with a good pace in the coming years. Other factors for the growth of the market in Asia include growing population base, prevalence of heart disease, focus of major players, increasing adoption of modern technologies and lower manufacturing costs in the area. The prominent and emerging market players of coronary stent market are Abbott Laboratories, Boston Scientific Corporation, Biosensors International Group, Ltd., B. Braun Melsungen AG, Terumo Corporation, Medtronic, plc, BIOTRONIK SE & Co. KG, STENTYS SA, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd., Translumina GmbH, and Vascular Concepts.

Continuous Renal Replacement Therapy Market Will Reach Height of USD 1.4 billion billion By 2024

The global Continuous Renal Replacement Therapy (CRRT) market size was valued at around USD 745.4 million in 2016 and is anticipated to reach USD 1.4 billion by 2025, with a CAGR of 7.4%. Acute renal failure is a common complication in the intensive care unit (ICU). Over the last few years, there have been noteworthy technological developments in the delivery of renal replacement therapy, principally as it refers to the critically ill patient population.

Continuous Renal Replacement Therapy (CRRT) is a dialysis modality utilized to treat critically ill, hospitalized patients in the intensive care unit (ICU) who develop acute kidney injury (AKI). Dissimilar to that of chronic kidney disease, which arises gradually over the period of time, AKI often takes place in hospitalized patients treated in an intensive care environment, and it classically occurs over a few hours to a few days.

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Renal replacement therapy is one treatment modality that strives for the replacement of the excretory function of the kidney. Renal replacement always utilizes a semi-permeable membrane to accomplish blood purification. It can be alternating or continuous, and can involve some of the major transport mechanisms such as the convection, adsorption, diffusion, and ultra-filtration. The effort of this is continuous renal replacement rehabilitation.

Continuous renal replacement therapy (CRRT) is a widespread optimal for the cure of ICU patients with AKI, particularly for hemodynamically unbalanced circumstances. CRRT consists of solute removal from blood by hemofiltration or haemodialysis or a blend of both. CRRT is carried out for about 24 hours in an ICU, making it relatively different from traditional renal replacement therapies that consist of intermittent haemodialysis durable from four to six hours or even at a reduced rate. Therefore, CRRT was established in an effort to offer artificial kidney support to those patients who could not abide the traditional haemodialysis as traditional intermittent haemodialysis often causes hemodynamic instability in the critically ill patients. The patients in receipt of CRRT can obtain as much as protein as well as fluid required achieving optimum nutrition.

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There are many factors that propel the growth of Continuous Renal Replacement Therapy (CRRT) Market such as rise in geriatric population, novel product launches, mounting occurrence of Acute Kidney Injury, patient’s inclination towards Renal Replacement Therapy, awareness regarding the blood purification technique, and development in technologies. On the other hand, there are factors that hinder the growth of the market like high demand of skilled ICU nurses, high expenses on Continuous Renal Replacement Therapy and complications of the therapy. The Continuous Renal Replacement Therapy (CRRT) Market can be classified on the basis product, modality, and geography.

On the basis of product, Continuous Renal Replacement Therapy (CRRT) Market is classified as CRRT Disposables, Hemofilters, Bloodlines, CRRT Systems, Dialysate and Replacement Fluids, and the other Disposables. On the basis of modality, Continuous Renal Replacement Therapy (CRRT) Market is classified Slow Continuous Ultrafiltration (SCUF), Continuous Venovenous Hemofiltration (CVVH), Continuous Venovenous Hemodiafiltration (CVVHDF), and Continuous Venovenous Hemodialysis (CVVHD).

On the basis of geography, Continuous Renal Replacement Therapy (CRRT) Market is classified as North America, Europe, Asia Pacific, and Rest of the World. In 2015, the largest share was held by Europe tracked by North America. Nevertheless, Asia Pacific’s market is anticipated to grow at the highest rate. The factors that attribute to the high growth include developments in healthcare, increasing geriatric population, expanding sepsis prevalence, and so on.

The prominent players that fuel the growth of Continuous Renal Replacement Therapy (CRRT) Market include Infomed SA, Baxter International Inc., Medica S.p.A, Medical Components, Inc., Nikkiso Co., Ltd, NxStage Medical, Inc., Toray Medical Company Limited, B. Braun Melsungen AG, BellcoS.r.l., Fresenius Medical Care AG & Co. KGaA, and Asahi Kasei Medical Co., Ltd. Since 2014, Baxter International Inc., has dominated the Continuous Renal Replacement Therapy (CRRT) Market.

Blood Screening Market Will Generate About USD 3.9 billion By 2024

Global Blood Screening Market is anticipated to reach USD 3.9 billion by 2024. It is anticipated to grow at a healthy rate in the years to come. Blood is a living tissue made up of liquid, with several proteins and cells suspended in it. It contains red blood cells, circulating fluid, platelets, and white blood cells. It offers nutrition and oxygen to the body cells through arteries, capillaries, and veins. It also helps in removal of carbon dioxide and metabolic waste from the body. Blood screening implies medical procedure wherein blood is inspected for a specific condition or disease. It helps to monitor health issues & diseases and a chronic ailments such as cancer and infections.

The facts that propel the growth of the Market include surge in adoption of nucleic acid amplification test (NAT), increase in prevalence of infectious diseases, rise in awareness regarding healthcare, and increase in the number of blood donations. Furthermore, surge in healthcare expenditure, increase in healthcare initiatives by government, and technical developments in blood screening technologies have resulted in the market growth.

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On the other hand, factors such as dearth of skilled manpower, high operating costs, and strict regulatory approvals may hinder the market development. The introduction of pathogen reduction technology and microbiology screening & multiplexing are anticipated to offer profitable opportunities for the blood screening market. and grow at a significant CAGR of 10.2% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Blood Screening Market may be analyzed based on technology, product outlook, end users, and geography. The Market may be explored by technology as ELISA, Chemiluminescence Immunoassay (CLIA), and Enzyme Immunoassay (EIA), Nucleic Acid Amplification Test (NAT), Western Blotting, and Next-Generation Sequencing (NGS). The NAT may be further split into real-time PCR and transcription-mediated amplification (TMA). The “NAT” dominated the blood screening market in 2016 and is anticipated to maintain its dominance by 2024 due to growing number of blood donations, increasing occurrence of transferrable diseases, and growing disposable income with respect to reimbursement for NAT-tested blood.

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Furthermore, the increasing consciousness about advanced and innovative applications of NAT in disease screening and the growing demand for safe donated blood by patients suffering from thalassemia, hemophilia, and sickle-cell anemia boost the development of this technology sector. Blood Screening Market may be explored by product outlook as Reagent& kit, and Instrument.

The market may be analyzed based on end user into Blood Banks, and Hospitals. The “blood banks” segment dominated the market in 2016 and anticipated to maintain its dominance by 2024 due to factors such as growing demand for donated blood, rising number of rising awareness regarding the safety of blood, organ transplantation surgeries, growing number of donations worldwide, and development in government funding to charitable trusts.

North America accounted for the major share of the global Blood Screening Industry in 2016 and will continue to lead in the forecast period due to factors such as growing participation of several government associations in screening & transfusion activities and blood donations, and rising adoption of nucleic acid tests (NAT). Some of the key players that fuel the growth of the Blood Screening Market include Becton, Danaher Corporation, Abbott Laboratories, Bio-Rad Laboratories, Inc., Beckman Coulter, Inc, F. Hoffmann-La Roche Ltd, Grifols, Dickinson and Company, Ortho Clinical Diagnostics, Siemens AG, and Thermo Fisher Scientific Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

Vaccine Market Will Reach Height of USD 77.5 billion By 2024

The global Vaccine Market was valued at over USD 32.5 billion in 2015 and is expected to reach over USD 77.5 billion by 2024, at a CAGR of 10.3%. A lot of vaccines technologies that could assist in improved safety, effectiveness and deliverance are in progress, such as needle liberated administration, escalating the magnitude and long lasting existence of defensive immune responses provoked by vaccines at the same time as plummeting the dose, and enhanced vaccine stabilization.

The worldwide industry for vaccines is expected to nurture, owing to technical advancements in admiration to the expansion of new vaccines towards cancers, rising infectious diseases and allergies. The industry will acknowledge constant progress in delivery methodologies, vaccine design, and manufacturing in huge scale process. The industry is expected to witness a drift towards the expansion of customized vaccines. In addition, to which the requirement for cost effective and safe drugs for the cure of HIV infection, many cancers which could be dealt by therapeutic vaccines, will outstandingly fuel the market growth over the forecast period. Inside the healthcare market, the vaccine market was originally considered a small profit venture but is presently professed with transformed interest among market circles owing to its huge demand in regard to rising infectious diseases.

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In addition, an enhanced and considerate understanding of the immune system has cemented new prospects for making new therapeutic and preventive vaccines. Rapid advancements in consideration of the immune system and wish of medical society to engineer both therapeutic and preventive vaccines for a wide-ranging field of diseases are expected to fuel the changes in the managed care industry and medicine industry which in return is expected to fuel the growth of the market. The expansion of worldwide Vaccine industry is partially fuelled by technical breakthroughs such as genome sequencing of contagious pathogens, sophisticated understanding of the immune system and its instrumentation of reaction, chased by a noteworthy influx of money from civic funding bodies, commercial organizations and private charity. Safety, the manifestation of adequately high efficiency and lack in a requirement of a reliable evaluation and development pathway are the main obstructing blocks for making new vaccines.

Additionally, discovering novel and more efficient ways of healing rising public health threats, there is substantial focus on recovering access to immunization for people in developed and developing countries. There is an imbalance in demand to create effective vaccines in opposition to a number of lethal infectious diseases such as malaria, hepatitis C and AIDS. Even though, vaccines for Infectious diseases such as influenza and TB exist, but are only partly effectual and this sector demands significant upgrading to react for the actual public health needs. This imbalance is expected to pose the challenge for this market over the forecast period.

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On the basis of technology class, the market can be segregated into Conjugate Vaccines, Toxoid Vaccines, Sub-Unit Vaccines, Recombinant Vector Vaccines, Live/Attenuated Vaccines, DNA Vaccines, Synthetic Vaccines and Dentritic Vaccines. On the basis of the type, the market can be segregated into Therapeutic and Preventive. On the basis of end users, the market can be segmented into Adult and Paediatric. On the basis of disease indication, the market can be segregated into Infectious Diseases, Cardiovascular Diseases, Allergies, Cancer and Others such as Diabetes. On the basis of a geographical region, the market can be segregated into North America, Asia Pacific, Europe and Rest of the world. Asia Pacific is expected to grow rapidly over the forecast period owing to increasing demands of a vaccine in the countries like India and China coupled with rising awareness about the usage of vaccines. North America is expected to capture maximum revenue over the forecast period owing to great awareness of vaccine and increasing regulation by government to strengthen the vaccination process. North America is followed by Europe.

Some of the key players in the market are Sanofi, Glaxo SmithKline PLC, Merck & CO., INC., Novartis AG, Aduro biotech, ImmunoCellular Therapeutics Ltd, Antigen Express, INC, Agenus Inc, Galena Biopharma Inc., Dynavax Technologies Corp., and Inovio Pharmaceuticals. The companies are focused on initiating the DNA-supported vaccines to stop and cure cancer and infectious diseases. The market is less fragmented and there is the lack of standardization which is expected to pose the challenge for the players over the forecast period. As the number of contagious diseases is increasing, the key companies playing in this area try their best to incorporate latest innovations in their vaccines so that they can have more effective vaccines. This market is expected to be innovation driven over the forecast period.

Choroidal Neovascularization Market to Witness Huge Growth By 2024

Choroid is principally that portion of eye that lies in between the retina and the sclera. It is said that this particular region of eye comprises of blood vessels that constantly offers nutrients to the retinal part of our eye. Choroidal Neovascularization (CNV) Market size on the basis of methods of diagnosis spans Fluorescein Angiography (FA), Indocyanine Green (ICG) angiography, and spectral domain Optical Coherence Tomography (OCT).

Choroidal Neovascularization (CNV) is an ailment, that is distinguished by the formation of new blood vessels that evolve either because of the existence of Vascular Endothelial Growth Factors or because of Age-related Macular Degeneration (AMD). It has been noted that this particular disease is quite prominently occurring in the population with flaws in the inmost stratum of the choroid known as Bruch’s membrane. It is linked with the production of new blood vessels in the choroidal layer of eye.

These blood vessels may suddenly break into the retina and give rise to disruption as well as sight loss/vision loss. The key symptoms of this disorder may encompass loss of vision, metamorphopsia, paracentral or central scotoma, and apparent change in image size. This disease frequently takes place among the aged group of population and among people who are suffering from severe myopia. Among all, Fluorescein Angiography (FA) is the most frequently employed diagnosis technique.

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And now days, it has been observed that the method of spectral domain OCT has occupied the position of FA, the reason being its attached benefits and highly accurate treatment provided by it. The studies show that CNV very often originate from posterior pole lesions and therefore it becomes quite difficult to spot and identify. Thus, it is very essential to take up an accurate and precise diagnosis in order to get relief from CNV. Researchers have identified a wide range of diagnosis methods of CNV along with various treatments.

As far the treatments are concerned, the prominent ones include angiogenesis inhibitors injection, photodynamic therapy, laser photocoagulation, low dose radiation therapy as well as surgery. Among all these mentioned treatments, it is said that angiogenesis inhibitor injection is the most traditional technique to administer the development of blood vessels by decreasing the area of fluid that is just below the retinal pigment epithelium.

The prominent factor that is playing a major part in raising the Choroidal Neovascularization (CNV) market share include high rate of increment in CNV affected patients owing to augmented aged population. In addition, the concerned government authorities and heath care departments across the globe are taking up various initiatives for raising awareness among the masses regarding the disease. Plus, they are offering appropriate diagnosis and treatments at reasonable prices.

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This is in turn assisting in compelling the overall growth of Choroidal Neovascularization (CNV) market. The only factors that are turning as major hurdles in the market growth include high lack of awareness among masses especially in the African and Asian regions regarding various kinds of eye diseases and soaring cost attached with its treatment.

Additionally, inaccessibility of better healthcare infrastructure, enhanced facilities and high grade care of patients are still standing in the mid-way as major challenges in the market growth. Choroidal Neovascularization (CNV) Market size on the basis of geography spans North America, Europe, Asia-Pacific, South America, and Middle East and Africa. As far as the geography is concerned, Asia Pacific is currently leading the market and it is anticipated that it will rise with a robust CAGR in the next couple of years particularly in the countries like China, and India.

On the other hand, North America is also emerging in the Choroidal Neovascularization (CNV) market owing to the large number of aged population present in the particular region. It is noted that the region is highly affected by this disease. The key players operating in the Choroidal Neovascularization (CNV) market include Bayer AG, Resolvyx Pharmaceuticals Inc, F. Hoffmann-La Roche Ltd, Valeant Pharmaceuticals International Inc., and Chengdu Kanghong Biotech Co. Ltd.

Neuroprosthetics Market Will Generate About USD 4.2 billion By 2024

The market for neuroprosthetics in 2015 was estimated at USD 4.2 billion globally. This can be attributed to high prevalence rate of disorders such as severe depression, Alzheimer’s, muscle/neuromuscular junction disorder, ophthalmic, auditory, epilepsy, and Parkinson’s which will drive the growth.

Also, the increasing investments in R&D for new products and device innovation & development for effective treatment plans to be used for neurological diseases are anticipated to provide significant boost to the overall demand. The increasing preference of self-charging devices, which uses bioenergy is expected to propel demand for brain implants throughout the forecast period. Furthermore, rise in aging population susceptible to neurological diseases is presumed to be a high impact factor for increasing neural implants demand throughout the forecast period.

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The largest market share of around 50.0% was held by spinal cord stimulation segment in 2015. The dominant share can be attributed to high penetration of these devices with technological upgradations. These upgradations facilitate usage in various applications, to treat impaired autonomic, sensory, and motor functions.

Advent of technologically advanced products, that includes surgical implantable devices, featuring images, MRI, movable and automated probes, and local field potentials is predicted to provide attractive growth opportunities. Moreover, the frequent development of next-generation technologies by manufacturers, to enhance treatment interventions for restoration of impaired neurological functions, makes sacral nerve stimulators as fastest growing segment.

Type Insights

The largest market share was held by motor prosthetics followed by the cochlear prosthetics segment in 2015. The dominant share held by motor prosthetic can be attributed to increased adoption, preference for implantable devices in bladder control and brain computer interface for treatment of lateral sclerosis & paraplegic patients.

A rapid growth is seen by the auditory segment owing to the increase in usage of mid brain AMI’s and brain stem implants ABI’s by patients with impaired hearings. Cochlear implants can be used for stimulation therapy and signal processing systems, which is expected to broaden the treatment scope in the future for neural disorders.

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Traumatic brain injuries, spinal cord injuries, Parkinson’s disease, and Alzheimer’s can be treated with the use of neuroprosthetics. The neuroprosthetic devices can be broadly classified into cognitive & physiological disorders, and motor neuron abnormalities based on application. The largest application segment was found to be motor neuron disorders in 2015 owing to the increasing adoption in epilepsy and Parkinson’s along with high prevalence of the aforementioned thereby leading to a widened consumer base.

The fastest growing segment is anticipated to be cognitive disorders as a consequence of rising prevalence of severe depression and Alzheimer’s. Introduction of various technologically advanced stimulation devices which can stimulate motor controls and calculate limb trajectory to be used in paralysis treatment, is expected to further drive the market during the forecast period.

Regional Insights

The largest share of over 50.0% in terms of revenue was held by North America in 2015. The dominancy in terms of revenue can be attributed to various factors such as, private and government funding as well as supportive healthcare infrastructure. Europe is anticipated to witness an upward shift as a consequence of advent of technologically advanced products for patients with impaired hearing and increasing initiatives by the government.

The fastest growing region is predicted to be Asia Pacific owing to the untapped opportunities present in this emerging region. The shifting focus towards overall cost containment in manufacturing of implants and high awareness amongst patients are predicted to drive the growth prospects. Moreover, increasing investments by the key players for development of new manufacturing facilities is expected to provide high growth potential over the coming years for neural implants.

Competitive Insights

Various companies which offer solutions for a wide range of neurological disorders are BrainGate, Sonova, MED-EL, Nervo Corp., Retina Implant AG, St. Jude Medical Inc., and Boston Scientific Corporation. The prominent players include NeuroPace Inc, NDI Medical LLC, Medtronic Inc., Cyberonics Inc., and Cochlear Limited.

The oligopolistic nature of the market and companies help in providing technologically advanced and effective solutions including, stimulators, smart hearing devices, wireless mini microphones and advanced therapy for neurological diseases. Geographic expansion and strategic collaborations are some of the few sustainable strategies that are adopted by these players. This is predicted to keep the industry’s competitive rivalry at the highest level and drive the market throughout the forecast period.

Pharmacovigilance (PV) Market Will Reach Height of USD 10.27 billion By 2024

The global Pharmacovigilance (PV) Market size is estimated to reach USD 10.27 billion by 2025, registering at a 13.1% CAGR over the forecast period as the scope and its applications are rising enormously across the globe. Pharmacovigilance (PV) is also termed as drug safety, is a science and activities relating to the prevention, detection, understanding, and assessment of adverse effects or other drug-related issues.

The factors that are playing a major role in the growth of pharmacovigilance market are the rising occurrence of adverse drug reactions (ADR), enhancement in development of ADR database and information system, and the rising demand from the end-users. Pharmacovigilance (PV) industry is segmented based on the clinical trial phase, service provider, type of methods, end-user, and region.

Phase IV, phase III, phase II, phase I, and pre-clinical are the clinical trial phase that could be explored in pharmacovigilance (PV) market in the forecast period. The phase IV sector accounted for the substantial market share of pharmacovigilance and is estimated to lead the overall market in the years to come. Also, phase III sector is estimated to show lucrative growth in the years to come. Contract outsourcing, in-house, and other service providers could be explored in pharmacovigilance industry in the forecast period. Contract outsourcing sector accounted for the substantial market share of pharmacovigilance and is estimated to lead the overall market in the years to come.

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Based on the type of method, HER mining, spontaneous reporting, cohort event monitoring, intensified ADR reporting, targeted spontaneous reporting, and others could classify pharmacovigilance market in the forecast period. Spontaneous report sector accounted for the significant market share of pharmacovigilance and is estimated to continue its dominance in the years to come. Also, the cohort event monitoring sector is estimated to grow at the fastest pace in the years to come.

The market may be categorized based on end-users like industrial, hospitals, research organizations, and others that could be explored in the forecast period. The hospitals sector accounted for the substantial market share of pharmacovigilance and is estimated to lead the overall market in the years to come. Also, the research organization sector is estimated to grow at the fastest pace in the years to come.

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Globally, North America accounted for the substantial share of pharmacovigilance industry and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region and the high investment in the development of new drugs. The United States and Canada are the major consumers of pharmacovigilance in the years to come.

Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of pharmacovigilance in this region.

The key players of pharmacovigilance (PV) industry are United BioSource Corporation, Accenture, Wipro Ltd., Clinquest Group B.V., BioClinica, Cognizant, PAREXEL International Corporation, Laboratory Corporation of America Holdings, TAKE Solutions Ltd., IBM Corporation, Foresight Group International AG, ArisGlobal, and iMEDGlobal. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

Technical Textiles Market Will Generate About USD 143.75 billion By 2024

Industry Insights

The technical textiles industry was valued around USD 143.75 billion in 2014, owing to increasing diverse end use applications. Technical textile is mainly developed to fulfill non-aesthetic functions such as safety and comfort. Molded with advanced technology to perform the specific function such as a shield for humans in extreme weather conditions, these types of textiles are named in various ways such as technical textile, industrial textile, and functional textile.

Major factors that are expected to influence the industry include the technological breakthrough in medical textiles to amplify opportunities for surgical and diagnostic tools. Also, growing demand for geotextiles in anticipated to be yet another driver for the market.

Developing markets of the Asia Pacific, Middle East, and Latin American region are expected to drive product demand, especially in the automotive industry in the regions. Technical textiles are used for the construction of transportation system accessories such as airbags, air balloons and seat covers.

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Specific characteristics of the product such as high durability, adaptability, and superior performance make this technology attracted by various textile manufacturers. These textiles owing to their superior properties over traditional textiles are being used to provide special functions.

Increasing R&D investments by the industrial participant in the past few years have been the main factor in the development of various novel products. As product demand have been seen increasing significantly in the past few years the industry players have been seen taking serious steps to develop novel applications in accordance with demand from the consumers. These trends are anticipated to drive the market over the forecast period.

The versatility of technical textiles has made them applicable to various fields in the textile industry. High raw material cost including both natural or manmade is anticipated to be a major challenge for industry participants. The absence of sufficient skilled workforce globally for manufacturing of these products is expected to be yet another factor to restraint the industry growth over the forecast period. The reinforcement of embankments is presumed to offer sufficient opportunities for the industry participants over the forecast period owing to the fact that it is global accepted. Emerging need of quality products and services in Latin America and Asia Pacific is anticipated to witness fast acceptance of these products across various industries.

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Technology Insights

Apart from natural fibers such as cotton and jute artificially developed fibers, filaments and yarns are some prominent raw material used in the manufacturing of technical textiles. Technologies such as 3D knitting, thermoforming, 3D weaving, heat-set methods, finishing treatments, nanotechnology, hand-made methods, and others are the leading manufacturing technologies in the present scenario. Thermoforming, 3D knitting, and 3D weaving are the mainly used methods towing to better quality in the end product. Nanotechnology being the new process in developing technical textiles are expected to witness higher acceptability over the forecast period.

Textiles thermoforming is a heat treatment process that is used to mold composites that contain fabric layers. Indutech, Mobiltech, Hometech and Packtech, segments majorly use this technology. Products such as conveyor belts, spacer fabrics, surgical implants geotextiles, and webbings are manufactured using 3D weaving process.

The heat-set process is a thermal process which is carried out either in moist or dry heat atmosphere. Three-dimensional knitting technology can give an accurate measurement. It results with minimum requirements for cutting the final product and is used to manufacture complete garments. The innovation of this technology led to the minimization of post labor work, with more efficiency regarding time and productivity.

End-Use Insights

The global technical textile industry has been divided into various segments that include indutech(Industrial Textile), mobiltech(automobile), sportech(Sports Textile), hometech(Domestic Textile), buildtech(Construction textiles), clothtech(Clothing textile), agrotech(agro textile), packtech(ackaging Textile), meditech(Health Care Textile), protech(Protecting Textile), and others.

Owing to the rapid and constant advancement in automobile technology, mobiltech has the largest share in the overall market in the recent past which was followed by the Indutech technology.

Regional Insights

Asia Pacific industry dominated the industry in 2014. It is expected to account for around 43% of the overall demand by 2022. North American market is expected to decline moderately in the next few years owing to moderate growth of the end-use industries. Various countries in the Asia Pacific region such as India and China are expected to be some of the leading markets in the region.

Increasing infrastructure development in Asia Pacific and Central & South American regions owing to various initiatives taken the respective governments and the developing healthcare industry in these region is expected to augment demand for these products in the next few years.

Competitive Insights

The market is fragmented with numerous multinationals such as Strata Geosystems Ind. Pvt. Ltd., DuPoint, Johnson & Johnson, Ibena Textilewerke GmbH, SRF, and Ahlstrom. These industry participants are involving in various acquisitions with various other multinational or local manufactures and even distributors with the aim of increasing their annual production and also enhance product range.

Industry players such as Avintiv have recently increased its product prices and have also taken over Duonor S.A.S as a strategic move in order to meet regional demand and acquire substantial market share with the integration of novel technologies.

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Air Ambulance Services Market Will Reach Height of USD 3.7 billion By 2024

The market size for global air ambulance services was worth USD 3.7 billion in 2016 which is anticipated to grow at a CAGR of more than 9.3% during the forecast period. The factors contributing to the growth of the market are increasing the prevalence of chronic diseases, for instance, cardiac disorders which need an emergency medical response, accessibility of reimbursement policies, rising per capita healthcare expenditure and improvement of medical infrastructure in entertainment & sports industry.

An exponential rise in the per capita healthcare spending is observed worldwide in the past twenty years. According to the statistics given by The World Bank Group, in 1996, the per capita healthcare expenditure was approximately USD 467.6 and this figure raised exponentially to USD 1,060.9 in 2014. The 55.0% growth in per capita healthcare spending can be associated with better access to quality care, better economic conditions, and rising awareness amongst the population. These factors also contribute towards a rise in demand for air ambulance services in the last five years.

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The air ambulance service operators, particularly in developing nations, are offering a wide spectrum to air ambulance services to leverage the increasing demand. Additionally, increase in the number of service providers has intensified the competition in this market. For instance, there exist more than 1,300 aircrafts provided by 300 air ambulance operators, cumulatively, in the U.S.

The incidence of chronic disorders which require an emergency response, for instance, cardiovascular conditions, are increasing at alarming rate. According to a report published by the WHO, cardiovascular diseases contributed to the highest number of total global fatalities. In 2012, 17.5 million deaths translating to 31.0% of the global deaths occurred due to cardiovascular disorders. Air ambulances are highly useful in life-threatening conditions and therefore, these services have continued to hold a steady demand in spite of being expensive.

Developed economies, for instance, the U.S., provide reimbursement policies which enable the air ambulance service providers to overcome the issues related to high service prices and helped the market grow at a remunerative rate. The Government of Accountability Office (GAO) published statistics which say that Medicaid and Medicare payments contributed to approximately 12.0% and 30.0% of market revenue correspondingly whereas private insurers contributed to nearly 50.0% of market revenue. The air ambulance services are expensive, therefore, out of pocket payments are infrequent.

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Based on the type, the global air ambulance market is segmented into fixed wing services and rotary wing services. The rotary wing services, involving helicopter based air medical transport, held more than 68.0% of market share in 2016. These services are used for medical transfer of patients for shorter distances. Additionally, helicopters can easily land on streets, rooftops, and ground thereby increasing the accessibility of these services.

Fixed-wing services refer to aircraft equipped with medical instruments and a medical crew. These services are used to transfer patients to longer distances. These aircrafts are most commonly business jets or private jets modified to accommodate medical equipment and crew.

Service Model Insights

Based on the service model, the global air ambulance market is segmented into hospital-based and community-based services. Hospital-based services held the largest share in 2016 and are projected to grow at a lucrative rate during the forecast period. A majority of hospitals in developed nations provide these services wherein the medical crew is supplied by hospitals in emergency response situations.

Community-based services operate owing donations provided by businesses or public in general. These services function by partnering with community health centers or private players. For instance, in the U.S., Air Methods provides a variety of community-based services such as Air Idaho Rescue in Montana, Idaho, and Wyoming.

Regional Insights

North America dominated global air ambulance market in 2016. Availability of the supportive air medical transport infrastructure, the presence of reimbursement plans, and the local existence of a large number of air ambulance operators has fueled the growth of the market in this region.

On the other hand, Asia Pacific is expected to grow at a lucrative rate of more than 11.0% over the forecast period. The economic conditions in this region are improving and countries like China and India are leading countries on global investments. Accessibility of large labor pool and affordable services are promoting many multinational companies to invest in this region. Many multinational business conglomerates provide air ambulance services as safety protocol component.

Competitive Insights

The global air ambulance market consists of many key players such as PHI Air Medical, Native American Air Ambulance, Acadian, Lifeguard Air Ambulance, Express AirMed Transport, REVA Air Ambulance, IAS Medical, AMR, and Scandinavian Air Ambulance.

These market players undertake various strategic initiatives such as collaborations, service portfolio expansion and partnerships with entertainment events, sports events, and business firms. For instance, in January 2016, REVA launched a new operations base in Schenectady, New York. The new base allows REVA to provide rapid response to medical requirements in Europe and abroad. The new base also opened new opportunities with insurers and other leading facilities in Northeast region.