Microfluidic Device Systems Market in North America to Grow at Striking 21.70% CAGR from 2013 to 2019

There has been a recent release of a new report on the global microfluidic device systems market by Transparency Market Research (TMR). The report suggests that the global microfluidic device market is estimated to grow at a CAGR of 22.8% during the period of 2013 to 2019. The market, which was valued at US$1.5 bn in 2013, will reach US$5.2 bn in 2019.The report, which is titled “Microfluidic Device System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” provides a comprehensive study on the analysis of the microfluidic device market for the period from 2014 to 2019, wherein 2013 is considered as the base year for calculation. The report contains data related to the current market dynamics, trends, market drivers, restraints, and also the strategic developments propelling the global microfluidic device systems market.

The report states that the rising demand for microfluidic devices in proteomics and genomics, point of care testing, and miniaturization of chips are the chief driving forces behind the microfluidic device systems market’s growth. Another factor that could fuel the growth of the microfluidic device systems market is a change in the material mix, which would provide an opportunity to new market entrants. Conversely, strict regulations and standards for global affiliation of medical devices as well as high performance and consistency in quality of the devices are some of the factors limiting the growth of the microfluidic device systems market. Manufacturing issues such as surface chemistry and geometrical issues also account for the challenges faced by the microfluidic device systems market.

The report categorizes the global market for microfluidic device systems chiefly on the basis of four criteria: geography, industry, application, and materials used in the manufacturing process of microfluidic devices.

On the basis of application, the market for microfluidic devices is segmented into pharmaceutical and life sciences research, point of care testing, environment and industrial, clinical and veterinary diagnostics, and drug delivery. Of these, the largest segment of the microfluidic devices market is the veterinary and clinical diagnostic application segment.

Geographically, the microfluidic devices market is segmented into Asia, North America and Europe, wherein North America dominates the global microfluidic devices market, while Asia is a rapidly developing region for the microfluidic devices market.

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On the basis of industry, the microfluidic devices market is segmented into in- vitro diagnostics, pharmaceuticals, and medical devices. Among these, in-vitro diagnostics is the largest industry and is estimated to reach US$3.3 bn in 2019.

The report profiles some of the prominent companies such as Abbott Laboratories, Roche Diagnostics, Siemens Healthcare, Becton Dickinson and Company, Agilent Technologies, Fluidigm Corporation, Bio-Rad Laboratories, and Johnson & Johnson, which are key players in the microfluidic devices market.

The market for microfluidics devices can be expected to rise as microfluidics is an evolving field with a huge potential commercially. With applications in various fields such as cell biology research, protein crystallization, and medicine, microfluidics will remain in the market due to its efficacy in the field of treatment.

Microfluidic Device Systems Market in North America to Grow at Striking 21.70% CAGR from 2013 to 2019

Transparency Market Research has recently published a new research report that evaluates the overall global microfluidic device systems market and provides a trajectory of the market. The research report, titled “Microfluidic Device System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” studies microfluidic devices system as an evolving scientific field that has myriad analytical applications and a huge commercial potential.

It is a multidisciplinary field that uses engineering, chemistry, physics, nanotechnology, biochemistry, and biotechnology with practical solutions that use low fluid volumes achieve automation, multiplexing, and high-throughput screening. These devices are used in areas of cell biology research, medicine, and protein crystallization. The primary goal of these devices is to bring in efficiency and improve treatments.

According to the research report, the global microfluidic device systems market was valued at US$1.5 bn in 2013 and is expected to reach US$5.2 bn by 2019, rising at a CAGR of 22.80% between 2013 and 2019. The key factor propelling the global microfluidic device systems market is the high demand for these systems in chip miniaturization, proteomics, and genomics. Furthermore, the growing demand from the point-of-care testing segment will also boost this market.

The global microfluidic device systems market has been segmented on the basis of material, industry, application, and geography. The materials available in this market are glass, silicon, and polymer. The industries using these systems are pharmaceuticals, medical devices, and in-vitro diagnostics. On the basis of application this market is segmented into point of care testing, pharmaceutical and life science research, drug delivery, analytical devices, clinical and veterinary diagnostics, and environment and industrial. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

Of all the industries, the in-vitro diagnostics industry is the largest user of microfluidic device systems. This industrial segment was valued at US$949.6 mn in 2013 and is likely to reach US$3.3 bn in 2019, surging at a CAGR of 23.20% 2013 and 2019. Meanwhile, the medical devices segment will also play a vital role in the changing application dynamics of the global microfluidic device systems market.

Out of all the applications, the veterinary and clinical diagnostics held the largest share in the market. However, analysts predict that point of care testing segment will show a remarkable growth rate in the global microfluidic device systems market in the foreseeable future. The North America microfluidic device system market holds a dominant position as it was valued at US$644.5 mn in 2013 and is expected to reach US$2 bn in 2019, expanding at a CAGR of 21.70% from 2013 to 2019.

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Some of the key players in the global microfluidic device systems market are Roche Diagnostics, Siemens Healthcare, Abbott Laboratories, Bio-Rad Laboratories, Agilent Technologies, Fluidigm Corporation, Becton Dickinson and Company, and Johnson & Johnson. The research report profiles these players and provides a complete analysis of the competitive landscape of the overall market. Furthermore, the report also presents a fair case of regulatory framework governing the overall market. The research and development activities, branding ideas, business and marketing strategies, and strategic mergers and acquisitions of these players have also been mentioned in this extensive research report.

Global Microfluidic Device System Market to be Driven by Surging Demand from Proteomics and Genomics

Drug screening, micro fuel cells, chemical micro reactor, sugar testers, and microprocessor cooling are a few of the key areas which extensively use microfluidic devices. In 2013, the global microfluidic device system market had a market value of US$1531.2 million. Owing to factors such as increasing application of microfluidic device systems in the areas of proteomics and genomics, this market is anticipated to reach US$5246.4 million by 2019, growing at a CAGR of 22.8% from 2013 to 2019. Microfluidic devices are a nascent scientific field of study with enormous commercial and analytical applications.

The robust growth of the global microfluidic device system market can be attributed to key factors such as a high demand for point of care testing, miniaturization of chips, and changes in material mix. Miniaturization of chips leads to lower costs of testing, and changing material mix leads to newer opportunities for new market entrants.

Demand for Point of Care Testing to Propel Overall Demand from Microfluidics Device System Market

The global microfluidic device system market is segmented on the basis of material type, application, industry, and geography. On the basis of material type, this market is segmented into polymer, silicon, and glass. Based on application, the global microfluidic device system market is classified into environment and industry, clinical and veterinary diagnostics, drug delivery, point of care testing, analytical devices, and pharmaceutical and life science research. Within the application segment, clinical and veterinary diagnostics leads the overall microfluidic device system market.

Microfluidic device systems are also applied in the areas of protein crystallization, cell biology research, and medicine. Latest healthcare trends, which include home healthcare, reveal that point of care testing is a highly sought-after delivery method for healthcare services. In the area of genomics, microfluidic device systems ensure higher test speed, lower consumption of reagents, and greater efficacy.

On the basis of industry, the microfluidic device system market is segmented into medical devices, in-vitro diagnostics, and pharmaceuticals. The in-vitro diagnostics segment holds the largest share within the industry segmentation of the global microfluidic device system market.

Asia to Lead Microfluidics Device System Market Due to Growing Spread of Healthcare Infrastructure

Geographically, the global microfluidic device system market is segmented into Asia, North America, Europe, and Rest of the World. North America leads the overall microfluidic device system market in terms of both revenue and volume. Some of the prominent market drivers for the North America microfluidic device system market include greater technological development, high incidence of lifestyle diseases, a rapidly growing geriatric population, and greater health awareness.

In 2013, this regional market was worth US$644.5 million and is anticipated to report a value of US$2095.5 million by 2019. The Asia microfluidic device system market is expanding rapidly owing to significant growth of the industry and application segments of medical devices and point of care testing, respectively.

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Reduced Side Effects and Higher Efficacy Drives Demand for Microfluidic Device Systems

Microfluidics technology ensures greater efficacy of treatments and reduction of side effects. High demand for miniaturization of pharma and medical devices is a prominent factor that drives the demand for microfluidics technology. Ongoing trends also indicate that this technology is increasingly being applied in the area of micro engineering solutions.

Growing at a 23.2% CAGR, the in-vitro diagnostics segment is anticipated to reach a market value of US$3317.4 million by 2019 from US$949.6 million in 2013.

The overall microfluidic device system market is characterized by a number of product innovations and partnerships between major market players. Some of the key factors that hamper the growth of the global microfluidic device system market are strict regulatory standards and issues pertaining to geometrical and surface chemistry.

The key companies operating in the microfluidic device system market are Becton, Dickinson and Company, Johnson & Johnson, Micronit Microfluidics, Dolomite Centre, RainDance Technologies, Bio-Rad Laboratories, Agilent Technologies Inc., Abbott Laboratories, and Roche Diagnostics.

Teleradiology Market Responds to Impressive Progress in Medicine and Healthcare

Transparency Market Research has published a new report on the global teleradiology market. As per the report, the global teleradiology market is predicted to expand at a 22.30% CAGR during the period between 2013 and 2019. The report, titled ‘Teleradiology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019,’ states that the global teleradiology market stood at US$0.9 bn in 2012 and is expected to reach US$3.8 bn by 2019 owing to factors such as technological advancements and the introduction of mhealth services.

Teleradiology consists of the electronic transmission of radiological images from a particular location to another in a digital format using the internet. Image transfer is primarily carried out from the sender’s end to a secondary location for either consultation or an official diagnosis. Consistent developments and advancements in digital imaging technology have favored the acceptance of teleradiology technologies. The increasing acceptance of social media platforms and the internet in general is further expected to augment the use of teleradiology practices across the globe.

Continuous upgradation of radiology information systems (RIS) and picture archiving and communication systems (PACS) is expected to enhance the teleradiology process. The global teleradiology market is segmented on the basis of geography and modality. Based on modality, the global teleradiology market is classified into x-ray, ultrasound, computed tomography (CT), nuclear imaging, and magnetic resonance imaging (MRI). The x-ray teleradiology segment is expected to register new growth opportunities due to increased awareness, low costs compared to other modalities, and increasing digitalization.

Ultrasound imaging technology, popularly used in diagnosing women’s ailments, is majorly employed to track and visualize development stages of a fetus at the time of pregnancy. Compared with x-rays, ultrasound imaging technology is more beneficial due to its minimally invasive nature. The acceptance of MRI imaging technology is still at a nascent stage due to the high costs of the equipment and lack of technical expertise.

Based on geography, the global teleradiology market is divided into Europe, Asia Pacific, North America, and Rest of the World. In 2012, the global teleradiology market was led by North America, which held a revenue share of more than 33%. The presence of well-equipped healthcare institutions and hospitals and the increasing use of high-bandwidth internet are predicted to propel the North America teleradiology market in the years to come.

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The Asia Pacific teleradiology market is expected to register considerable growth in the coming few years due to ongoing developments in healthcare informatics and medical imaging platforms. However, lack of image data security is expected to hamper the growth of the global teleradiology market through the forecast period.

Agfa-Gevaert N.V., American TeleCare, Inc., Cybernet Systems Corporation, ONRAD, Inc., Radisphere National Radiology Group, Inc., Sectra AB, StatRad, Teleradiology Solutions, and Virtual Radiologic (vRad) are some of the leading companies in the global teleradiology market. The entry of new companies is expected to make the global teleradiology market highly competitive in the coming years.

Advancements and Innovations Driving the Hospital Stretchers Market

A report, titled “Hospital Stretchers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” from Transparency Market Research (TMR) provides a 360-degree view of the market. According to the report, the global hospital stretchers market is projected to expand at a CAGR of 3.90% during the forecast period from 2013 to 2019.

In 2012, the global hospital stretchers market was estimated at US$1.3 bn and by 2019, the market is projected to be worth US$1.7 bn. The global hospital stretchers market is driven by the rising prevalence of chronic conditions. Furthermore, the expanding geriatric and obese populations will also propel the global hospital stretchers market. The global hospital stretchers market will also benefit from the growing number of hospital stays.

Moreover, the increasing number of day care surgeries will also drive the global hospital stretchers market. The global hospital stretchers market will also benefit from the increasing average lifespan of hospital stretchers, which ranges from 7 to 10 years, and the growing presence of refurbished equipment. On the other hand, the global hospital stretchers market will be hampered by the high cost of specialized stretchers.

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On the basis of product type, the global hospital stretchers market is divided into radiographic stretchers, bariatric stretchers, adjustable stretchers, fixed-height stretchers, and others. The bariatric stretchers segment is projected to expand swiftly during the forecast period at a CAGR of 5.90%. This segment is driven by the rising obese population. As obese patients need to be carried to hospitals and healthcare centers with ease, the demand for bariatric stretchers has increased significantly due to their ability to carry very heavy weights.

According to technology, the global hospital stretchers market is bifurcated into motorized and non-motorized hospital stretchers. Application-wise, the global hospital stretchers market is classified into radiology, pediatric surgery, day care surgery, emergencies, and intra-hospital transport.

By region, the global hospital stretchers market is divided into Asia Pacific, Europe, North America, and Rest of the World (RoW). North America dominates the global hospital stretchers market due to the presence of a lot of manufacturers in this region. Furthermore, this region benefits from the rise in the population affected with chronic diseases and this region’s cutting-edge medical infrastructure.

Nevertheless, it is Asia Pacific that is the most favorable market in the global hospital stretchers market, due to the expanding medical tourism sector in this region. The medical tourism market is expanding rapidly in countries such as India and Singapore.

The research study recommends that companies must focus on developing innovative and cost-effective hospital stretchers. Players in the global hospital stretchers market, particularly small-scale industries, will also benefit by expanding their product portfolio. Moreover, focusing on the emerging markets of Latin America and Asia Pacific will also benefit companies operating in the global hospital stretchers market. Some of the leading companies operating in the global hospital stretchers market are Stryker Corporation, Givas, Gendron, Fu Shun Hsing Technology, and Anetic Aid Limited.

Global Medical Fiber Optics Market to Exhibit 7.60% CAGR Driven by Increased Healthcare Investment

The rising use of medical fiber optics in minimally invasive surgeries has been augmenting the demand from the global medical fiber optics market. In its report, titled “Medical Fiber Optics Market- Global Industry Analysis, Size, Share, Growth, Trend and Forecast 2013 - 2019,” Transparency Market Research provides a holistic overview of the global medical fiber market and presents insights into the growth drivers and restraints impacting its growth trajectory.

The report pegs the overall value of the global medical fiber optics market at US$863.1 mn in 2013. By the end of 2019, the market is expected to reach an overall valuation of US$1.3 bn. If these figures hold true, the global medical fiber optics market will exhibit a CAGR of 7.60% between 2013 and 2019.“The market for medical fiber optics has been substantially capitalizing on technical advancements in medical devices, resulting in their miniaturization,” said a lead TMR analyst. “The market is also gaining impetus from the rising demand for advanced technologies and rapid development in fiber technology,” he added.

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Despite exhibiting a positive growth trajectory, stringent regulations to ensure high standards and the risk linked with the high intensity of fiber optic lights are some crucial challenges inhibiting the global market for medical fiber optics. Nevertheless, improvements in healthcare infrastructure and medical standards, together with growing awareness about the diverse applications of fiber optics, will enable the market to capitalize on lucrative opportunities in the near future.

The report studies the global medical fiber optics market on two fronts, namely application and regional distribution. Based on application, the global medical fiber optics market is segmented into endoscopes, fiberoptic surgical lights, fiberoptics, fiberoptic sensors, fiberoptic dental lights, and others. Regionally, the market is broadly classified into Asia Pacific, Europe, North America, and Rest of the World.

Among the segments based on applications, the endoscopes segment emerged as the dominant player in 2013, with a valuation of US$339.8 mn. The market for endoscopes is likely to expand at a positive CAGR of 8.10% during the report’s forecast period and reach US$543 mn by 2019.

Regionally, the global medical fiber optics market is dominated by North America, since the region boasts high standards and sophisticated healthcare and medical infrastructure. Apart from this, increasing demand for minimally invasive surgeries from the region also boosts the North America market for medical fiber optics, which through the forecast period will maintain its lead in the global medical fiber optics market.

To present a comprehensive overview, the report profiles some of the leading players operating in the market such as Timbercon Inc., IPG Photonics, Coherent Inc., Schott, Rofin, Leoni AG, Vitalcor Inc., Trumph, Sunoptic Technologies, and American Medical System. Additionally, the report states that during its forecast period, Asia Pacific will exhibit the fastest CAGR as one of the regional markets for medical fiber optics.

Hyaluronic Acid Products Market - Market Dynamics and Opportunities Report by Transparency Market Research

Hyaluronic Acid Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

According to “Hyaluronic Acid Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, a new research report published by Transparency Market Research, the global hyaluronic acid products market valued at US$5.32 billion in 2012, is expected to reach US$9.85 billion by the end of 2019, registering growth at a CAGR of 9.2% during the forecast period from 2013 to 2019.

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Hyaluronic acid is a type of glycosaminoglycan that performs multiple functions in the human body, such as transporting nutrients through the body and retaining water in body tissues. It creates protective and flexible layers around the cell during nascent developments taking place inside the human body and conditions such as wound healing, inflammation, and cancer. Hyaluronic acid is an important component that is present naturally in a human body and is found in high concentrations in fluids around the joints and in the eyes.
A global surge in demand for hyaluronic acid products has been noticed in the recent years.  Factors such as the increasing geriatric population, rising demand for anti-ageing procedures, increased consciousness among patients regarding product side-effects, and rising demand for minimally invasive surgical methods have significantly aided the expansion of the market for hyaluronic acid products globally. 

In this report, we shall find segment-wise analysis of the global hyaluronic acid product market both in terms of product types and applications. In-depth investigation of the market’s performance in individual geographic pockets has been included in the research report as well. Geographically, the research study has segmented the market into North America, Europe, Asia Pacific, and Rest of the World. On the basis of type of product, the market for hyaluronic acid products can be segmented under the categories of single-injection cycle, three-injection cycle, and five-injection cycle. Among these segments, the market for single-injection cycle and three-injection cycle is expected to multiply within the next couple of years due to changing dynamics of the market and high preference among patients in favor of short duration treatments. 

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In terms of application, the market for hyaluronic acid can be segmented into osteoarthritis, ophthalmic, dermal fillers, and vesicoureteral reflux (VUR). In the application market, the demand for hyaluronic acid products is the highest in VUR disorders. The demand for hyaluronic acid products from the VUR segment is expected to grow at a CAGR of 12.0% during the forecast period from 2013 to 2019.

According to the report, the major players in the global hyaluronic acid products market include Anika Therapeutics, Inc., Ferring Pharmaceuticals, Inc., Meiji Seika Pharma Co., Ltd., Merz Aesthetics, Inc., Seikagaku Corporation, F. Hoffmann-La Roche Ltd., Galderma S.A., Salix Pharmaceuticals, Inc., Sanofi (Genzyme), Zimmer Holdings, Inc. Allegran Inc., Alcon, Inc., and Smith & Nephew plc.

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