Foot & Ankle Devices Market - Global Industry Analysis, Trends and Forecast 2013 – 2019

Foot and ankle devices are used to restore one or more functions of the human foot or ankle system. The foot and ankle devices market include all those devices which are used in ligament repair and reconstruction procedures including arthrodesis, joint replacement and internal fixation. The global foot and ankle devices market is analyzed by categorizing orthopedic implants and surgical devices, prosthetics and bracing and supports market.

Based on orthopedic implant and device types, the foot and ankle devices market is classified into fixations devices, joint implants and soft tissue orthopedic devices. The fixation devices market is further segmented and analyzed into internal and external fixation devices. Internal fixation devices such as plates, screw, fusion nails and wires and pins are widely used in the foot and ankle surgical procedures. Whereas, external fixation devices such as unilateral, hybrid and ring ankle fixators are prospective options as they are minimally invasive devices. Soft tissue orthopedic devices include artificial tendons and ligaments and musculoskeletal reinforcement devices. Increase in the use of minimally invasive technologies will lead to a growth in the in the number of foot and ankle surgical procedures being performed.

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The prosthetics market for foot and ankle devices include single axial prosthesis, multi axial prosthesis, solid ankle cushioned heel (SACH), pneumatic and hydraulic prosthesis, microprocessor controlled prosthesis. The demand for foot and ankle prosthetics is perpetually growing with the introduction of advanced devices and materials such as carbon fiber, pneumatic foot and hydraulic foot. Also, the introduction of microprocessor controlled prosthetic foot increased the comfort level of the patient in mobility. The goal of designing a prosthetic foot is to be light in weight with high strength as it firma and comfortable while moving. Bracing and support devices market is segmented into two types as soft bracing and hinged bracing. They are advised based on the type of injury such as minor strain or twist. Moreover, braces are also available for postoperative recuperation.

Geographically, the foot and ankle devices market is segmented into four regions namely North America, Europe, Asia-Pacific and Rest of the World. North America is the largest market for the foot and ankle devices because of patient affordability, higher acceptance rate and large number of sports injuries. However, with rising sports injuries and aging population in the Asia-Pacific region, the demand for foot and ankle devices is expected to rise rapidly in this region.

The growth of foot and ankle market will be highly driven by the rising sports injuries, road accidents and rising incidence of diabetes which may lead to amputation of foot-ankle with large sores. In addition, aging population will also be a contributing factor for the growth of the foot and ankle devices market as there is considerable decrease in the bone strength and increased risk of fractures. Furthermore, introduction of new technologies with additional shock absorption and greater battery life will augment the demand for these devices. The joint implants are replacing the need for fusing the ankle as they provide better mobility and biomechanical motion. Better understanding of mechanical function of the prosthetic feet during movement will improve the prescription for prosthetic feet to patients with lower limb amputation.

Some of the major players in the foot and ankle devices market include Wright Medical Technology, Inc., Arthrex, Inc., Integra Life Sciences Corporation, Stryker Corporation, Smith & Nephew plc, Acumed, LLC, Zimmer Holdings Inc., De Puy Synthes, Biomet, Inc., BioPro, Inc., Orthofix Holdings Inc., OrthoHelix Surgical Designs, Inc., and Mondeal Medical Systems GmbH.

Global Preventive Healthcare Technologies and Services Market to Register CAGR of 9.70% 2014-2020, Propelled by Rising Demand to Curb Costs

The competitive landscape of the global preventive healthcare technologies and services market includes players such as Dilon Technologies Inc., Alere Inc., Medtronic Inc., Healthways Inc., Omron Healthcare Inc., Merck & Co. Inc., and ScriptPro LLC. The key players are investing heavily in proteomics and genomics with the increased demand for personalized medicines. Furthermore, the market players are focusing on emerging economies where the market has a significant potential to grow in the near future.

High Cost of Installation to Restrain Growth of Global Preventive Healthcare Technologies and Services Market

Increasing public awareness about prophylaxis and constructive government policies have played a pivotal role in the growth of the global preventive healthcare technologies and services market. The introduction of advanced technologies has significantly reduced the cost of healthcare. However, high costs of installation and maintenance of healthcare IT solutions have dampened the adoption of preventive healthcare technologies and services. “Deficient patient engagement activities have hampered the motivation of physicians and pharmacists to adopt preventive healthcare technologies,” a TMR analyst notes.

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Favorable Regulatory Environment Augments Demand for Preventive Healthcare Technologies and Services across North America

North America remains the largest market for preventive healthcare technologies and services and is anticipated to retain its position during the forecast horizon. A conductive regulatory environment and a comprehensive healthcare reimbursement scenario have helped the growth of the market across this region. In 2003, the United States Medicare Prescription Drug Improvement and Modernization Act made provisions for physicians to avail grants worth US$50 mn to cover the costs of acquisition, installation, and upgrade of preventive healthcare software solutions and technologies. The act also made provisions for availing funds for training staffs. This significantly encouraged the regional healthcare facilities to adopt IT services, thereby aiding the growth of the global healthcare technologies and services market.

Lack of Robust Healthcare Structure Hampers Growth of Global Preventive Healthcare Technologies and Services Market across Asia Pacific

Europe is the second largest market for preventive healthcare technologies and services. Though the market has ample opportunities to grow across Asia Pacific and Rest of the World, the rate of adoption of preventive healthcare services in these regions is expected to be slow. “The sluggishness in the growth of these regional markets can be attributed to the lack of a robust healthcare infrastructure,” TMR report states.

The global preventive healthcare technologies and services market is anticipated to expand at a CAGR of 9.7% during the period from 2014 to 2020. The overall market was worth US$72.8 bn in 2013 and is projected to reach a valuation of US$144.8 bn by 2020.

The review is based on the findings presented by a report published by Transparency Market Research, titled “Preventive Healthcare Technologies and Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014-2020.”

Rising Incidence of Cervical Cancer Dialing Growth for Cervical Cancer Diagnostic Tests Market, states TMR

The competitive landscape of the global cervical cancer diagnostic tests market includes players such as F.Hoffmann-La Roche Ltd., Hologic Inc., Abbott Laboratories, Quest Diagnostics, and Becton, Dickinson & Company. Despite the highly fragmented nature of the market, top players dominate the market, observes Transparency Market Research. This is because top companies are involved in devising intense competitive strategies and ploughing back profits into research and development.

“Strategic acquisitions are on the growth charts of top players in the global cervical cancer diagnostic tests market,” points out a TMR analyst. A case in point is Abbott Laboratories. In June 2014, Abbott Laboratories announced a factual agreement to acquire a Veropharm, which is a leading Russia-based pharmaceutical company. This acquisition would allow Abbott Laboratories to obtain Veropharm’s large portfolio of medicines, which are targeted towards its current pharmaceutical therapeutic areas.

Focus on product differentiation is another key growth model that leading players in this market are adopting to gain competitive advantage. Top players are also seeking approval for the commercialization of existing assays in the bid to enhance their offerings.

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Lack of Knowledge about Women’s Diseases in Developing Countries Hampers Market Growth

A TMR analyst says, “Increasing rate of prevalence of cervical cancer is expected to fuel the growth of the global cervical cancer diagnostic tests market.” According to the data presented by the American Cancer Society, cervical cancer accounts for a large number of cancer deaths in women in the U.S. However, as per several studies carried out by the Centers for Disease Control and Prevention, new cases of cervical cancer and deaths due to cervical cancer have dropped significantly over the last couple of years.

High incidence of human papillomavirus (HPV) is likely to fuel the market’s growth in the coming years. An increasing awareness about cervical cancer screening is assisting in accelerating the growth of this market.

“Lack of proper primary healthcare infrastructure and outdated facilities in most developing countries pose major challenges to the growth of the global cervical cancer diagnostic tests market,” says a TMR analyst. Due to the lack of primary healthcare facilities in developing nations such as Brazil, India, and China, patients seek treatment from hospitals, which are considerably high in cost. As such, many patients evade screening to avoid high hospitalization costs.

Lack of awareness about women’s diseases in most of the developing regions is a reason for high female mortality in these regions. The majority of women in these regions do not have knowledge about cervical cancer and the regular screening that should be undertaken for its early detection.

Pap Test Type Accounts for Significant Market Share

The global cervical cancer diagnostic tests market is expected to reach a valuation of US$8.9 bn by 2020, says the study.

By test type, Pap test held more than 45% of the market in 2013. The growth of this segment is mainly attributed to the rising awareness about cancer diagnosis and the high efficacy of the investigation at relatively low costs. HPV testing is expected to register a significant growth rate between 2014 and 2020, adds the study. Asia Pacific is expected to emerge as a significant market for cervical cancer diagnostic tests due to the easy penetration of service providers, rising disposable incomes, and an increasing knowledge about women’s diseases.

The information presented in this review is based on a report from Transparency Market Research titled “Cervical Cancer Diagnostic Tests Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

Valuation of Global Video Telemedicine Market to Reach US$1,624.4 mn by 2020, Driven by 4G Reaching More Consumers

The global video telemedicine market is highly consolidated with top four players collectively holding close to 90% of the overall market in 2013, as per a new analysis by Transparency Market Research. These are Cisco Systems Inc., Polycom Inc., LifeSize, and Vidyo Inc. Among these, Cisco Systems Inc. was the clear leader in the same year thanks to its diversified product portfolio and extensive geographical presence.

“Partnerships and collaborations are the key focus of top players in the global video telemedicine market in the bid to expand their geographical presence”, points out a TMR analyst. This is mainly to improve remote and rural patient care, security, and communication. An excellent example is AMD Global Telemedicine Inc. collaborated with Nexus Connected Healthcare in September 2012, the latter being a subsidiary of Nexus IS Inc., to augment the applications of telemedicine.

Technological innovation and integration of applications is another key growth model that leading players are adopting to enhance their portfolio and broaden their regional footprint in the process. This is expected to increase the scope of video telemedicine from early detection and diagnosis to therapeutics.

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Innovation in product design is also what top players in the global video telemedicine market are adopting for revenue growth. For instance, Global Media Group LLC’s TotalExam HD is the one of the world’s first true HD examination cameras.

Introduction of Government Reforms Favors Remote Healthcare Services

“The global video telemedicine market is primarily driven by the rapidly increasing aging population that needs remote health diagnosis and monitoring”, says a TMR analyst. Moreover, regular healthcare needs of this population are driving the demand for mobile health and video telemedicine. According to estimates from the World health Organization (WHO), the percentage of individuals above the age of 60 years would double from 11% in 2011 to 22% by 2050. This indicates a significant rise in the geriatric population base would propel the need for efficient healthcare services that can be rendered remotely.

Government reforms that are favorable for improving the quality of healthcare is also fuelling the growth of the global video telemedicine market, says a TMR analyst. Proliferation of communication technologies and electronic devices is also propelling the growth of the global video telemedicine market.

Lack of Infrastructural Capabilities in Developing Countries Hampers Market Growth

Resistance for adopting new technologies, predominantly in developing nations such as India, Brazil, China, and Argentina is challenging the market’s growth. This is because the majority of the individuals in these countries prefer visiting the healthcare practitioner in place of receiving medical care remotely. Lack of modern healthcare infrastructure in several countries, which can support the deployment of video telemedicine is also restraining the market’s growth. Video telemedicine requires a high-level of technological capacity for the transmission of data and images unambiguously across the recipient’s network.

The dearth of skilled personnel that can operate video telemedicine systems is also an impediment to the growth of this market. The use of video telemedicine also requires dedicated medical personnel at all times to respond to queries.

The global video telemedicine market is expected to be worth US$1,624.4 mn by 2020. Video telemedicine based on asymmetric digital subscriber line (ADSL) communication technology contributed the highest revenue to the overall market in 2013. However, the 4G communication technology segment of the market will display the highest growth rate at a CAGR of more than 18% between 2014 and 2020. Gynecology stood as the leading application segment in 2013; however, neurology and psychiatry application segments are expected to display the highest growth rate during the forecast horizon, the report states.

The review is based on the findings of a Transparency Market Research report titled “Video Telemedicine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

Global Urinalysis Market is expanding at a steady 5.4% CAGR from 2016 to 2024

The global urinalysis market is highly fragment, with the top five companies accounting for a share of 41.7% in 2016. Transparency Market Research finds that these companies, namely F. Hoffman-La Roche Ltd., Beckman Coulter, Inc., Siemens Healthcare, BAYER Healthcare, and Sysmex Corporation, have been dominating the scene owing to various business strategies. Acquisition is one of the most successful and widely chosen growth strategies adopted by players to strengthen their position in the urinalysis market. A case in point would be F. Hoffmann-La Roche Ltd.’s acquisition of GeneWEAVE BioSciences, Inc. in 2015.

Expanding at a steady 5.4% CAGR from 2016 to 2024, the global urinalysis market is projected to grow from a valuation of US$929.9 mn in 2015 to US$1.5 bn by 2024.

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Laboratory-based Urinalysis Holds Lion’s Share of the Market by Test Setting

Consumables was the leading product segment in 2015, accounting for a 71.0% share that year. Plastic consumables was the dominant sub-segment, accounting for approximately 53.0% share of the consumables segment in the same year. The instrument segment is likely to expand at a CAGR of 6.8% from 2016 to 2024, emerging as one of the most promising product segments. By type of test, the urinalysis biochemical test held a large share at the start of the forecast period, while the microscopic and sediments urinalysis segment will register a high growth rate. On the basis of test settings, the laboratory-based testing segment will hold the lion’s share of the market throughout the forecast period. Point-of-care testing, on the other hand, will exhibit strong growth from 2016 to 2024.

Based on end use, hospital laboratories held the leading share of the urinalysis market in terms of both test volume and revenue in 2014. The others segment, which includes industrial institutions, home testing, and nursing facilities, will witness impressive growth in the coming years. Accounting for a 35% share of the global urinalysis market in 2016, North America holds the lead position. The market in Asia Pacific, on the other hand, offers the highest growth potential.

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Benefits of Point-of-care Testing Spurs Adoption of Urinalysis

Point-of-care testing (POCT) technologies have played a vital role in the transformation of the healthcare industry. When implemented accurately, point-of-care testing can have a positive impact on patient care as well as operational efficiency. “With a rising focus on providing cost-effective and timely medical care for ambulatory patients, POC laboratory testing has become one of the fastest growing areas in the medical field,” the author of the study notes. The benefits of point-of-care testing are also reflected in urinalysis, wherein the segment is poised to witness strong growth in the coming years.

The rise in geriatric population, rapid advancement in medical technology, and the rising incidence of diabetes and renal diseases also contribute to the global urinalysis market.

In contrast, the high cost associated with advanced analyzers and the shortage of laboratory staff acts as impediments to the growth of the urinalysis market.

Total Ankle Replacement Market - Trends and Forecast, 2013 – 2019

Total ankle replacement is a surgical process for replacing damaged bones in the ankle joint. Total ankle replacement is performed by placing a plastic or metal implant on top of the ankle bone (talus) and at the end of the shin bone (tibia). Loss of movement and pain in the ankle are the common symptoms. Bone fracture, arthritis, osteoarthritis, and rheumatoid arthritis are some of the primary reasons for total ankle replacement. Arthrodesis and total ankle replacement are the two common types of total ankle replacement surgeries. Recovery period for the total ankle replacement surgery is up to three months after the surgery. Some of the risks associated with ankle replacement are ankle weakness, bone damage during surgery, stiffness, nerve damage, allergic reactions to the artificial joint, and blood vessel damage. Growing awareness about these risks associated with the total ankle replacement surgeries are expected to hamper the growth of the global total ankle replacement market.

The global total ankle replacement market is segmented on the basis of design and geography. By geography, the global total ankle replacement market was dominated by North America in 2013 in terms of revenue and the region is expected to maintain its dominant position throughout the forecast period.

The overview section of the report provides comprehensive data on market drivers, factors limiting the growth of the market, current market trends, market structure, and predictions for the years to come. The report on the global total ankle replacement market is a complete study of changing trends, restraints, and industry growth drivers. The report presents a blueprint that highlights analysis of technology developments. A detailed review of macro and micro factors that are affecting the growth of the market are highlighted in the report. The Porter’s five forces model is used to measure the feasibility of new projects and competitive analysis.

Overview of the Total Ankle Replacement Market

By design, the global total ankle replacement market is classified into agility ankle prosthesis, Buechel-Pappas ankle prosthesis, Scandinavian total ankle replacement (STAR), Salto total ankle replacement, HINTEGRA total ankle replacement, mobility ankle system, TNK total ankle replacement, Ramses total ankle replacement, AES total ankle replacement, BOX total ankle replacement, ESKA ankle prosthesis, German ankle system, alphanorm total ankle replacement, TARIC total ankle replacement, and INBONE total ankle replacement. Based on geography, the global total ankle replacement market is divided into North America, Europe, Asia Pacific, and Rest of the World. The Europe total ankle replacement market is expected to rise due to rising awareness amongst people and the increasing obese population. Asia Pacific is predicted to be the emerging region in the global total ankle replacement market during the forecast period due to increasing awareness about advanced medical technology.

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Risks such as continued pain, mal-alignment, and arthritis development in the adjacent joints are expected to restrict the growth of the global total ankle replacement market in the years to come. However, the growing aging population is a key factor expected to drive the global total ankle replacement market during the period from 2013 to 2019.

Companies mentioned in the research report

Integra Life Sciences, Implants International, Small Bone Innovation, Inc., DePuy Synthes, Zimmer Holdings, Inc., and KYOCERA Medical Corporation are some of the leading companies operating in the global total ankle replacement market. The leading companies are expected to face competition from the emerging companies in the years to come.

Intravascular Ultrasound Devices Market Set to Expand by 2019

Intravascular ultrasound (IVUS) is a medical imaging methodology using a specially designed catheter with miniaturized ultrasound probe attached to the distal end. The proximal end of the catheter is attached to computerized ultrasound equipment. It allows application of ultrasonic technology to visualize the blood vessels internally through surrounding blood column. The arteries of the heart (the coronary arteries) are the most frequent imaging target for IVUS. The application of IVUS in coronary arteries is to determine the amount of atheromatous plaque built up at any particular point in epicardial coronary artery. Built up plaque obstructs the blood flow, disturbs the normal blood pressure in body and raises coronary heart complications (e.g. Stenosis). IVUS is a valuable adjunct to angiography, providing new insights in the diagnosis and therapy for coronary diseases. An angiography depicts only 2D silhouette of the lumen, whereas IVUS allows tomographic assessment of lumen area, plaque size, distribution, and composition. According to experts the range of lumen stenosis locations at which myocardial infarctions occur range from areas of acute dilatation all the way to areas of greater than 95% stenosis. However, the average or typical stenoses at which myocardial infarctions occur were found to be less than 50%. Only 14% of the heart attacks occurred at locations with 75% or more due to stenosis. Overall this research has changed the primary focus of heart attack from severe narrowing to vulnerable plaque. According to WHO, it has been estimated that around 17.3 million people died from CVDs in 2008, representing 30% of all the global deaths. Of these deaths, an estimated 7.3 million were due to coronary heart disease and 6.2 million were due to stroke.

The IVUS market can be segmented on the basis of products and applications:

Products

• IVUS Consoles
• IVUS Catheters

IVUS Accessories market ( pullback devices, guidewires, others)

Applications

• IVUS coronary diagnostic market
• IVUS coronary intervention market
• IVUS coronary research market
• IVUS non-coronary /peripheral applications market

Some of the major market drivers of Intravascular Ultrasound Devices market are sedentary lifestyle, increasing incidence and prevalence of cardiovascular diseases rising obese population and aging population. Some of the major restraining factors of this market are high cost of diagnostic devices and lack of uniform reimbursement policies. Most of the market experts expect that future research and developments activities in the field will enhance the application range and efficiency of IVUS as it’s currently at initial stage.

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Asia-Pacific market was observed to be the leading IVUS market as Japan represents the largest regional market for intravascular ultrasound worldwide. This was observed due to efficient reimbursement rate and practice pattern in this country. Asia-Pacific was also observed to be the most growing market. North America was observed to be the second largest IVUS market globally as according to Centre for Disease Control and Prevention (CDC), about 5.1 million people in the United States have heart failure and it costs the nation an estimated USD 32 billion each year. High intake of fats through food and lack of physical activities has increased the obese population in North America. Comparatively, reimbursements offered for IVUS in the U.S. are lower and vary significantly among regions of the country. IVUS usage in Europe is also struggling due to the lack of reimbursements in many countries across the region. Rest of the World (RoW) was also observed to be the growing geographic region after Asia-Pacific, especially Latin America and gulf countries were observed to be the major markets for IVUS.

Some of the major key players of the market are Volcano Corporation, Boston Scientific Corporation, Terumo Corporation, Siemens Healthcare, Silicon Valley Medical Instruments Inc., Avinger Inc., InfraReDx Inc., eV3 Endovascular, Inc. (Covedien), among others.

Continuous Glucose Monitoring Market Outlook and Forecast up to 2019

Continuous glucose monitoring systems (CGMS) are portable and real-time glucose monitoring systems employed for glucose level measurement from time to time from the body of a patient. These systems make use of a wireless technology for the transmission of glucose readings which are taken from the interstitial fluid of the skin cells of the patient, unlike the measurement of glucose levels present in the blood which happens in case of blood glucose meters. The swiftly increasing diabetic population globally has substantially raised the preference for effectual diabetes management systems.

Transparency Market Research (TMR), a market intelligence company, studies the continuous glucose monitoring market in detail. It provides the reasons behind their increased demand and the type of devices leading the market.

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Q. Why are CGMS gaining popularity over the conventionally utilized glucose monitoring systems?

The utilization of CGMS is immensely rising and they are overtaking the conventionally utilized glucose monitoring systems owing to them being user friendly, more accurate, and their provision of presenting access to real-time trends and values. In addition, continuous glucose monitoring systems aid in the management of diabetes, particularly in patients having diabetes I and also aid in lowering long-terms complexities related to diabetes. Furthermore, the increasing technological innovations are also amongst the prime factors behind the increasing employment of these systems, making the control and management of diabetes mellitus relatively simpler. The early identification of hypoglycemic and hyperglycemic levels by the utilization of CGMS devices will also fuel their demand over other types of blood glucose monitoring systems.

Q What are the key opportunities and which factors may negatively impact the growth of the market?

There are numerous growth opportunities in the market as a number of companies have made investments in the research and development of CGMS, thus making the management and control of diabetes easier. For instance, Dexcom, Inc. has developed the next generation disposable continuous glucose monitoring device and it will be introduced in the market by 2021. This launch will positively impact the growth of the market. In addition, the artificial pancreas’ approval, which makes the utilization of CGMS mandatory has also emerged as a key opportunity in the global continuous glucose monitoring devices market. However, the dearth in the reimbursement options and the strict regulatory norms in some nations are amongst the crucial factors impeding the growth of the continuous glucose monitoring market.

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Q. Which device/brand and region have dominated the market?

The segment of Guardian Real Time CGM System led the market in 2012 and was trailed by Dexcom Seven Plus CGM system. On the other hand, in the forecast horizon between 2013 and 2019, the development of the segment of FreeStyle Navigator will witness immense growth.

Geographically, North America held a dominant share in the market for CGMS on the basis of revenue in 2012. This is due to the increasing geriatric population, the increasing obesity, and the growing acceptance of cutting-edge devices in this region. North America was trailed by Europe, which was further followed by Asia Pacific, constituting the third position in the market. In addition, Asia Pacific is predicted to hold the most lucrative opportunities in the growth of the market in forthcoming years.

Infusion Pumps Market to Reach US$7.77 bn by 2019 due to Rising Count of Patients Suffering from Cancer Globally

Currently, the global infusion pumps market is crowded with many active players introducing a wide variety of specialties across the globe. Key players operating in the global infusion pumps market are focusing on introducing new varieties of insulin pumps, ambulatory pumps, large volume pumps, implantable infusion pumps, disposable pumps, and enteral feeding pumps. Technology advancements have helped companies to focus more on manufacturing disposable infusion pumps, which are in demand among hospitals, clinics, and healthcare centers in many areas.

Top companies including CareFusion Corporation, Baxter International, Inc., B. Braun Melsungen AG, and Hospira, Inc. are taking efforts to enhance their already existing infusion pumps. Transparency Market Research (TMR), in its new report, states that the global market for infusion pumps is expected to witness significant growth owing to the rising aging population. As per the report, the global market recorded US$5.4 bn in 2012 and is predicted to reach US$7.7 bn by 2019, progressing at a 5.30% CAGR.

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TMR experts answer the following questions related to the global infusion pumps market, that the companies operating in this market might want to ask:

Q. Will increasing patient base benefit the global market for infusion pumps?

Yes, the increasing patient base is one of the primary factors expected to drive the global market for infusion pumps. Among all health problems, the number of people diagnosed with diabetes is increasing considerably. An uptick in diabetic people is expected to be responsible for the steady expansion of the global infusion pumps market. Apart from this, the market is also expected to be benefited from rising aging population. Technological advancements in the medical devices are predicted to further contribute towards the growth of the global market.

Q. What are the factors expected to restrict the growth of the global infusion pumps market?

Many healthcare clinics and hospitals in various locations reported problems in infusion pumps, leading to product recalls. The patient protection and affordable care act also impose many restrictions on the use of medical devices considering the device problems. Stringent government rules and regulations restrict the entry of new companies in the global infusion pumps market. All these factors are expected to restrict the growth of the global market for infusion pumps in the near future.

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Q. Will new product launches and awareness programs benefit the global demand for new infusion pumps?

Yes, emerging nations are offering many opportunities to manufacturers to introduce their new products in the global market. The availability of enough medical infrastructure is also predicted to benefit manufacturers to launch new products. Many companies are involved in infusion pumps analysis services to reveal key practices that contribute to the smart pump workarounds.

For instance, B. Braun, a leading company was recently in the news for launching its infusion safety analysis service that was designed to assure meaningful use of infusion pumps. The infusion pumps safety analysis service helped reveal top infusions pumps.

The global market for infusion pumps is moving towards smart technology. Key companies are engaged in manufacturing smart infusion pumps with high capacity to avoid errors related to dosing.

Global Apheresis Equipment Market to Expand at 11.30% CAGR 2012-2018 owing to Rising Demand for Plasma

The global apheresis equipment market is led by companies such as Asahi Kasei Kuraray Medical Co., Ltd., B. Braun Melsungen AG, Hemacare Corporation, Haemonetics Corp., and Fenwal, Inc. The moderately consolidated global apheresis equipment market is likely to witness further consolidation in the coming years as key players aim to expand their geographical reach and product catalog. Collaborative research efforts and joint development of new product lines is another popular stratagem employed by many key players in the apheresis equipment market.

According to Transparency Market Research, the global apheresis equipment market is set to garner annual revenue of US$1.8 bn by the end of 2016. The annual revenue figure is further expected to rise to US$2.3 bn by the end of 2018.

Asia Pacific Set to Challenge North America’s Dominance

Geographically, North America is the leading contributor to the global market for apheresis equipment. The availability of advanced medical technology and the widespread awareness about the benefit of apheresis in North America are crucial to ensuring sustained growth of the region’s apheresis equipment market. North America held a share of more than 50% in the global apheresis equipment market in 2011, but its share is likely to drop to 44.4% by 2018.

The Asia Pacific market for apheresis equipment is expected to exhibit robust growth over the same period, with a CAGR of 13.49% expected from 2012 to 2018. Though the North America market for apheresis equipment will remain the leading contributor till the end of the forecast period, the investment potential of Asia Pacific is likely to be exploited by key players in the global market, facilitating its rise as a lucrative investment destination for the apheresis equipment industry.

By procedure, plasmapheresis comprises the leading segment of the global apheresis equipment market, holding a majority share of 59.22% in 2011. Despite an expected decline in its market share over the forecast period, plasmapheresis is expected to retain its majority share in the global apheresis equipment market. Photopheresis is another leading segment of the apheresis equipment market and is expected to hold a share of 24.4% in the global market by the end of 2018.

Improving Healthcare Infrastructure in Emerging Countries Drives Demand for Apheresis Equipment

One of the key drivers for the global apheresis equipment market is the steady progress exhibited by the healthcare sector in dynamic emerging economies. The growing awareness about blood donation in urban areas in the developing world has been crucial for the apheresis equipment market, as it has led to the establishment of flourishing blood bank networks and has thus helped provide the infrastructure needed for apheresis.

The increasing therapeutic use of plasma and platelets, which are used in the treatment or management of several diseases, is a crucial driver for the global apheresis equipment market. Plasmapheresis is commonly used in the treatment of several autoimmune diseases, while platelets are vital in managing diseases such as leukemia, the treatment for which damages the patient’s bone marrow. The rising prevalence of such conditions is likely to remain a key driver for the global apheresis equipment market in the coming years.

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High Costs, Risk of Complications Restrict Demand for Apheresis Procedures

One of the key restraints on the global apheresis equipment is the high cost of apheresis procedures. This factor is particularly influential in developing countries, where the absence of adequate reimbursement schemes has left the average consumer at a disadvantage. There is also a lack of trained personnel to operate apheresis equipment in emerging countries, which has emerged as a significant constraining factor.

The risk of contracting diseases through apheresis is one that can’t be denied. This, in addition to the risk of blood pressure complications due to fluctuations in the rate of fluid transfer, has been instrumental in restricting the demand for apheresis. Even though such complications are extremely rare in sophisticated facilities and treatable, they have had a significant negative impact on patient confidence.

The information in this preview comes from a Transparency Market Research report titled ‘Apheresis Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018.’

Neuromodulation Devices Market - Latest Innovations, Drivers, Restraints, Challenges and Forecast 2012 - 2018

Transparency Market Research, in a report titled “Neuromodulation Devices Market - Global Industry Size, Market Share, Trends, Analysis, And Forecast 2012 - 2018,” states that the global neuromodulation devices market is anticipated to expand at a strong CAGR of 14.40% from 2012 to 2018, rising from an estimated value of US$2.7 bn in 2011 to over US$7 bn by 2018.

Neuromodulation devices are advanced medical devices that suppress or enhance the activity of the nervous system for the effective treatment of a particular disease. Neuromodulation technologies can be both implantable as well as non-implantable and comprise devices that deliver chemical, electrical, or other agents to modify nerve cell and brain activity.

The global neuromodulation devices market is driven by a number of factors, including major technological advancements, the add-on therapy nature of neuromodulation devices, the surge in healthcare expenditure by consumers, the rising prevalence of lifestyle-associated disorders such as obesity and depression, the increasing prevalence of diseases such as Alzheimer’s and Parkinson’s, the rising incidence of chronic diseases, the surge in unmet medical needs, the growing demand for minimally invasive surgeries, and the increase in external funding for clinical studies. In contrast, strict FDA approval norms and other government restrictions, the risks and side effects associated with the use of neuromodulation devices, and the availability of alternate treatment options threaten to impede the global neuromodulation devices market.

The report studies the overall market for neuromodulation devices by segmenting it on the basis of type of technology, area of application, and geography.

By type of technology, the neuromodulation devices market is divided into deep brain stimulation, vagus nerve stimulation, spinal cord stimulation, sacral nerve stimulation, and gastric electric stimulation. On the basis of area of application, the neuromodulation devices market is categorized into Boston Scientific’s Precision Spinal Cord Stimulation System, St. Jude Medical’s Eon Mini Neurostimulator System, IntraPace’s Abiliti System, Cyberonics’ VNS Therapy System, Medtronic’s Enterra Therapy System, Medtronic’s Spinal Cord and Deep Brain Neurostimulation Systems, Codman & Shurtleff’s Medstream System, and Nevro’s Senza System for Spinal Cord Stimulation.

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The global neuromodulation devices market is geographically divided into Asia Pacific, Europe, North America, and Rest of the World. Accounting for a massive 65.0% share in the overall market, North America emerged as the leader in the neuromodulation devices market in 2011 and was valued at US$1.7 bn. There has been a considerable rise in the demand for neuromodulation devices in the developing economies in Asia Pacific and this surge in demand is anticipated to drive the Asia Pacific neuromodulation devices market at a remarkable CAGR of over 15.0% from 2012 to 2018. A number of emerging economies in Eastern Europe and Latin America are also anticipated to gain prominence in the neuromodulation devices market over the coming years.

The report identifies the leading players operating in the global neuromodulation devices market and reviews them based on attributes such as business strategies, company overview, product portfolio, financial overview, and recent developments. Boston Scientific Group, Nevro, Cervel Neurotech Inc., Codman and Shurtleff, Integra, Uroplasty, IntraPace, Cyberonics, Medtronic, St. Jude Medical, and Neuronetics Inc. are some of the top companies competing in the neuromodulation devices market.

Endovascular Abdominal Aortic Aneurysm Repair Devices Market Trends and Forecast, 2013 – 2019

Aortic Aneurysm is a widening of the aorta (body’s largest artery) at a certain spot in the wall of aorta and can potentially rupture the artery due to blood pressure and other factors such as xxx. This can lead to massive internal bleeding if not rapidly treated by experienced emergency medical team. As aorta carries blood from heart and runs through chest and abdomen, the aneurysms are possibly observed at these locations and termed as abdominal aortic aneurysms (AAA) and thoracic aortic aneurysms (TAA). Endovascular aneurysm repair (EVAR) is performed to correct these aneurysms in which the weak spot is sealed tightly with an endovascular stent graft. Devices for repairing abdominal aortic aneurysms is known are known as abdominal aortic aneurysm repair devices or more commonly as endovascular stent grafts. Globally, the physicians are preferring endovascular repair of abdominal aortic aneurysms (AAA) over the open surgical repair because of minimal invasive procedure and faster recovery. Presently, more than 60 percent of AAA repairs are performed using EVAR rather than open surgery which reflects the increasing adoption of endovascular stent grafts systems.

The surgical procedure for treating AAA was first performed in 1991 and since then it has become very popular among surgeons all over the world. The popularity of this procedure is attributed to advances in the stent-graft design happened over several years. Furthermore the devices used for these procedures have undergone drastic changes to suit specific anatomical parts which have helped increasing the number of AAA endovascular stent graft procedures and eventually the demand for these devices.

These devices offer several advantages such as minimal stay at hospitals (24 o 48 hours) and patients can return to normal activities sooner compared to open surgical repairs. These advantages improve the quality of life of an individual as well save huge hospitalization charges and are therefore the biggest driving factor for the growth of this market. Although, these devices have benefits over surgical repair, the technology today still has certain drawbacks such as problem of endoleaks (blood leaks from the treated segment), need of regular surveillance, and graft movement or integrity issues. The global endovascular abdominal aortic aneurysm repair devices market is expected to expand as the ongoing research find solutions to these restraining factors.

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Some of the FDA approved devices for endovascular aneurysm repair include, AneuRx AAA stent-graft system (Medtronic, Inc.), GORE EXCLUDER (W. L. Gore & Associates, Inc.), Zenith Flex (Cook Medical, Inc.), and Talent Abdominal Stent Graft (Medtronic, Inc.). Other FDA approved device in the market includes AFX Endovascular AAA System by Endologix, Inc. (in the U.S.) and IntuiTrak Powerlink System (outside the U.S.). These devices differ with respect to usage of stent material and graft material. For instance, Medtronic and W. L. Gore & Associates use nitinol for stents while Cook Medical, Inc. uses stainless steel for stents. On the other hand graft material is either made up of woven polyster or expanded polytetrafluoroethylene (ePFTE).

Some of the companies operating in the global endovascular abdominal aortic aneurysm repair devices market include Bolton Medical, Inc., Cardiatis S.A., Cordis Corporation, Cook Medical Inc., LeMaitre Vascular Inc., JOTEC GmbH, TriVascular, Inc., Terumo Cardiovascular Systems Corporation, TriVascular, Inc., Lombard Medical Technologies plc, Medtronic, Inc., Endologix Inc., Nano Endoluminal, Vascutek Ltd., Aptus Endosystems Inc., and W. L. Gore & Associates.

Growing Cell Separation Technologies Market to Help Curb High Chronic Diseases Prevalence, Set to Rise to US$3.3 bn by 2019

Right from the start of modern biology, the procedure of cell separation from biological samples has every time been a vital task. The progress made in cell separation technologies and immunology is incredible. Today, thanks to the advancements in the technology, researchers use innovative equipment for cell separation procedures. The recent progress in cell separation technologies is supported by developments in sorting devices.

Recent advancements in single cell separation technologies are offering the opportunity to distinguish biological insights in individual cells. Key companies are focusing on adopting new trends in cell separation technologies, which will boost its use in cancer research and stem cell research. Transparency Market Research (TMR) in its new report states that the global cell separation technologies market stood at US$1.7 bn in 2012 and is predicted to reach US$3.3 bn by 2019, progressing at a 9.70% CAGR from 2013 to 2019.

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TMR answers a few questions that key companies operating in the global cell separation technologies market would like to ask:

Q. What factors would drive the global market for cell separation technologies?

The global market for cell separation technologies is primarily driven by the rising occurrence of chronic diseases. The number of cancer patients is increasing at a rapid pace in many regions. Technological advancements have made it possible for researchers to use cell separation technologies in cancer research activities. Thus, the rising number of cancer patients is predicted to benefit the global market.

Technological developments have made it possible for key companies to introduce new cell separation technologies in the global market. Governments of many nations are taking initiatives to increase their funding for the research and development of new cell separation technologies. All these factors are also expected to propel the global cell separation technologies market.

Q. How will patent expiration create growth opportunities for the market?

Many key companies are currently facing patent expiration, which, in a way, is a factor that would affect the growth of the global cell separation technologies market. However, patent expiration will give companies a chance to introduce new cell separation technologies in the global market. The introduction of new technologies will boost the global market.

Q. How will the launch of new technologies benefit the global market?

Many prominent players are concentrating on introducing new cell separation solutions in the global market to meet the needs of healthcare professionals and medical centers.

The demand from clinicians and researchers for advanced technologies that offer enhanced efficiency, scalability, and high viability to optimize cell separation technologies is increasing.

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Recently, Quad Technologies launched its new cell separation technology, MagCloudz Kit that enables fast, scalable, and straightforward cell separation. This new technology is expected to be used for T cell purification, circulating tumor cell separation, immunotherapy, and stem cell isolation.

Such new cell sorting techniques are expected to enhance the development of cell therapies. New product developments are expected to motivate key companies to launch their new products. With many new cell separation technologies lined-up in the pipeline, the global market is expected to grow significantly.

Global Market for 3D Printing in Medical Applications to Rise at 15.40% CAGR Fueled by Strong Government & Private Funding

Despite being at a nascent stage, the global 3D printing in medical applications market exhibits intense competition among the leading companies operating therein. According to Transparency Market Research (TMR), the top four companies held over 88% of the global 3D printing in medical applications market in 2012. These players are 3D System, EnvisionTEC, Materialise NV, and Stratasys Inc. To expand their footprint, the companies operating in the market are focusing on mergers and acquisitions. They are also aiming competitive advantage through continuous product innovation.

As per TMR, the global 3D printing in medical applications market was valued at US$354.5 mn in 2012. The market is poised to exhibit a CAGR of 15.4% between 2013 and 2019 to reach US$965.5 mn by the end of 2019. Regionally, Europe emerged as the dominant segment in the global market and is expected to report a CAGR of 16.9% during the forecast period. By application, the medical implants market is expected to report the leading CAGR of 16.8% from 2013 to 2019.

Rising Application of 3D printing for Customizing Prosthetic Implants to Augment Market’s Growth

Persistent technological advancements over the last few years have broadened the scope for medical applications of 3D printing. “The technology is still at a primitive stage, but holds immense potential for a plethora of medical applications,” said a lead TMR analyst. Currently, 3D printing has found application in the construction of surgical templates, customized impacts, and anatomic structures.

“With government and private agencies funding to push 3D printing usage in the healthcare sector, the future of the market seems quite promising,” added the TMR analyst. In regions such as the Americas, Asia, and Europe, governments have already adopted considerable strategies expediting the 3D printing application in the medical sector.

Recently, the technology has discovered application in dentistry, cranio-maxillary, and orthopedic implants. The use of 3D printing has enabled customization of prosthetic implants thus providing faster and cost-effective alternative to traditional prosthetic production. Spurred by these factors, the global 3D printing in medical applications market is expected to report growth at a significant pace over the forecast period.

Lengthy Approval Process Creating Hindrances for the Market

Different raw materials are needed for the fabrication of various implants. It is imperative for these manufacturing materials to be high performing to aid the progress of the medical 3D printing market. Hence, the use of these materials for complex procedures such as cytotoxicity, irritation, delayed hypersensitivity, and genotoxicity requires FDA approvals. However, the approval is attained post extensive clinical trials. This creates significant hindrance for the market.

Besides this, the market also faces challenge from the lack of trained professionals. Being at a nascent stage, major companies operating in the medical 3D printing market are left to target small clinics and dental laboratories to augment use of 3D printing in medical applications. These are the factors inhibiting the market’s trajectory to an extent.

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Acquisition of Software Firms to Bolster 3D Printing in Medical Applications

The market is expected to gain impetus in the forthcoming years from the acquisition of software firms for 3D designing. This trend has been associated with cost reduction in 3D printing for medical applications. It is thus creating considerable opportunity for existing players to remain competent in the disruptive 3D printing in medical applications market.

Information included in the review is based findings published by TMR in a report, titled “3D Printing in Medical Applications Market (Medical Implants (Dental, Orthopedic, Cranio-maxillofacial), Surgical Guides, Surgical Instruments, Bio-engineered Products) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.”

Photopheresis Products Market Trends and Forecast 2016 – 2024

Photopheresis is a type of apheresis, which is a popular therapeutic option used in treatment of various autoimmune diseases, solid organ transplant rejections such as kidney and liver, acute and chronic graft versus host disease (GVHD), and advanced cutaneous T-cell lymphoma. Extracorporeal photopheresis (ECP) was first approved by the US FDA in 1988, as a leukapheresis-based therapeutic procedure.

Today, ECP is also known as extracorporeal photoimmunotherapy, and is available at several specialized centers worldwide. With growing need for blood products in transfusion processes, the market of apheresis is gaining traction. Following plasmapheresis, which is the currently the largest apheresis segment, photopheresis is a significant market as well. Among all other segments of this industry, photopheresis represents the fastest growing market since the past few years. Rising blood disorders affecting global population is primarily driving the market. As photopheresis products are recognized for their established efficiency in the treatment of CTCL, the market for ECP will witness steady growth in the near future.

In photopheresis, WBCs are collected after exposure to photosensitizer, UVA radiation, and 8-MOP. The mechanism is based on the principle of activation of 8-MOP by UVA, which ultimately causes DNA cross linkage. Performed via IV, the process of ECP commences in three key stages, including leukapheresis, photoactivation, and reinfusion. The third step involves the infusion of treated cell product back to the patient. As far as devices or equipment for photopheresis are concerned, several open and closed systems are available in the market. However, the US FDA has approved only closed systems, which allow the integration of drug photoactivation and reinfusion. As a result, closed systems assure lesser risk of contamination, infection, and flaws during reinfusion.

While advanced cutaneous T-cell lymphoma (TTCL) treatment predominantly involves use of photopheresis products, ECP also finds application in various other diseases, including atopic dermatitis, scleroderma, diabetes mellitus type I, bullosa acquisita, lupus erythematosus, and Crohn disease. Research has reaffirmed the efficacy of EPC in treatment of aforementioned disorders. In addition, photopheresis products have also been found to be applicable in some other diseases as well, including multiple sclerosis, rheumatoid arthritis, psoriasis, and nephrogenic systemic fibrosis.

ECP is being used in treatment of various dermatogenic disorders, including scleroderma, scleromyxedema, oral lichen planus, and recalcitrant pemphigus vulgaris and foliaceous. Studies also provide evidences for the application of adjunctive photopheresis in face transplantation and prophylaxis against heart transplant rejection. Moreover, ECP has been found effective against refractory chronic lung transplant rejection and persistent acute lung transplant rejection.

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Recently, a key specialty pharmaceutical player in Switzerland, Mallinckrodt plc announced Switzerland's Federal Department of Home Affairs - FDHA’s approval for the reimbursement of ECP treatment for Switzerland-based patients, who are suffering from bronchiolitis obliterans syndrome (BOS), following lung transplantation. This approval highlights the potential application of ECP as a restoring therapy for BOS patients in Switzerland.

Increasing applications of photopheresis in the medical world are bolstering the market in developed regions. However, developing economies are still in a nascent stage of mass adoption of photopheresis in treatment of diseases. Therakos, Inc. is one of the top players in market. Mac Molds is a leading manufacturer of photopheresis systems.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.

High Incidence of Unintended Pregnancies Steers Rise of Global Contraceptives Market, says TMR

Contraceptives are drugs and devices that are used to prevent pregnancy and sexually transmitted infections. Growing awareness about contraceptives and their offered advantage in preventing pregnancy and sexually transmitted infections (STIs) is the major factor that is driving the contraceptives market. Market players such as Bayer Healthcare in coalition with several NGOs organizes World Contraception Day on September 26th every year, to spread awareness about contraceptives and their benefits. Such awareness drives help the public in making right decisions about their sexual and reproductive health.

Based on the types of products, the global contraceptives market has been categorized into contraceptive drugs and devices. Contraceptive drugs are further classified as contraceptive pills, topical contraceptives and contraceptive injectables. Contraceptive pills dominated the overall drugs segment owing to their high usage in North America and high efficiency in preventing pregnancy and convenience of use. Based on the type of devices, the contraceptives market is further categorized into male and female contraceptive devices. Female contraceptive devices dominated this segment due to their low cost, ease of usage and high potential in the prevention of pregnancy along with sexually transmitted infections. Female devices market is further differentiated into seven segments: female condoms, intrauterine devices, contraceptive sponges, contraceptive diaphragms, contraceptive patches, subdermal contraceptive implants and non-surgical permanent contraceptive devices. The intrauterine devices (IUD) sub-segment held the largest share of the female contraceptive devices segment in 2013 due to high usage rates in Europe and China. However, the introduction of other effective female contraception devices such as sub-dermal contraceptive implants such as Sino-implant (II), female condom FC2 and non-surgical permanent contraception devices such as Essure, which suits the buying preferences of contraceptive users in Asia, coupled with the rising acceptance of vaginal rings, would reduce the market share of intrauterine devices during the forecast period.

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Geographically, the global contraceptives market has been differentiated into four regions: North America, Europe, Asia Pacific and Rest of the World (RoW). North America dominated the global contraceptives market in 2013 due to high incidence rate of unintended pregnancies, availability of favorable reimbursement policies after implementation of the Affordable Care Act and increased use of emergency contraceptive pills and oral contraceptive pills. On the other hand, Asia Pacific is estimated as the most opportunistic market during the forecast period due to strong economic growth in countries such as India, China, Singapore, Philippines, Australia and others. This in turn, has led to increased awareness about the use of contraception for pregnancy prevention and STIs, rising disposable income and demand for healthy life, which is increasing the adoption rate of contraceptives in Asia Pacific.

The global contraceptives market is characterized by the presence of major companies such as Actavis, Inc., Bayers AG, Church & Dwight, Co., Inc., CooperSurgical, Inc., Mayer Laboratories, Inc., Merck & Co., Inc., Reckitt Benckiser plc, Pfizer, Inc., Teva Pharmaceutical Industries Ltd. and The Female Health Company. These market players are engaged in growth strategies such as acquisitions, marketing of products (providing free samples or contraceptives in reduced prices) and creating various awareness programs to increase market share and sustain in the highly competitive contraceptives market.

Veterinary MRI Systems Market: Global Markets & Advanced Technologies

Veterinary MRI Systems Market: Overview

Over the years veterinary care has witnessed tremendous paradigm shift especially with respect to diagnostic imaging. Magnetic resonance imaging is a sophisticated 3D imaging technique which has been a widely used clinical diagnostic tool in last 2 decades. MRI measures and record changes in the magnetic property of the protons present in the cellular water. Unlike x-rays, MRI does not require the use of ionizing radiation. For imaging, MRI device uses radio waves and magnetic field such as pulsed electromagnetic fields in order to excite the protons in the region of interest.

Until recently, MRI had limited applications in veterinary medicine primarily due to cost associated with the initial set up and high operational expenses. In developed regions such as the United States and Europe 7 Tesla and 11 Tesla MRI are among the widely used imaging technique. In veterinary MRI is now seen as a gold standard technique for brain and spinal examination such as spinal disk herniation, trauma of the brain and spine, brain tumors, strokes, and brain malformations.

Additionally, MRI is also seen as a powerful technique for examining tendons and ligament related ailments. In case of chronic wounds and draining tracts MRI imaging helps identifying foreign bodies within the wound which has effectively contributed in increasing the application areas.

Veterinary MRI Systems Market: Trends

In research and development i.e. preclinical imaging the advent of 15.2 Tesla and 21.0 Tesla has drastically revolutionized the micro-MRI market in past few years. Micro-MRI devices are also capable of efficiently rendering information regarding tissue composition, perfusion, oxygenation, tissue elasticity and metabolic activities in a single acquisition. Pertaining to its safety and ease of use, micro-MRI procedure accounts for approximately 23% - 28% of all small animal procedures. Technological advancements pertaining to magnetic field and radiation free imaging are among the key drivers for the growth of veterinary MRI market across the globe. The advent of open MRI systems has also contributed to the growth and demand for MRI devices in veterinary. The only restraint to the growth of the market includes the high cost of the device. In emerging markets, increasing awareness about animal health and rising adoption of imaging modalities are latent growth opportunity for the market in forthcoming years.

Veterinary MRI Systems Market: Region-wise Outlook

Geographically in terms of revenue, developed regions such as the North America and Europe are major contributors owing to increased adoption rate for veterinary MRI devices. Moreover, large number of ongoing pre-clinical researches has also boosted the market in past few years. Despite a high adoption rate the market share of developed regions is expected to decline primarily due to increasing demand for veterinary MRI devices in Asia Pacific and Latin America region.

The majority of the growth in the Asia-Pacific region is primarily driven by the increasing demand of diagnostic tests in the animal health industry in China and India. The growth in the Asia-Pacific and Latin American regions can be attributed to the increased disposable incomes leading to growth in the per capita animal health expenditure in these regions. However demand for pre-owned MRI devices a key restraint affecting the sales of devices in Middle East and Asia Pacific countries.

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Veterinary MRI Systems Market: Key Players

Some of the prominent players operating in the global veterinary MRI market include Hallmarq Veterinary Imaging Ltd., Esaote SpA, Imotek International Ltd., Universal Medical Systems, Inc., Bruker Corporation, Agilent Technologies, Mediso Ltd., MR solutions, Burgess Diagnostics Ltd, and others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.