Surgical Equipment Market - Worldwide Market Shares, Strategies, and Forecasts 2013 to 2019

According to a market research report published by Transparency Market Research, the global surgical equipment market is estimated to expand at a CAGR of 4.2% during the period between 2013 and 2019. The report, titled “Surgical Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” projects the global surgical equipment market to be worth US$11.28 bn by 2019. The overall market stood at a valuation of US$8.43 bn in 2013.

Surgical equipment are widely used during surgical procedures for making incisions, grasping certain tissue or skin, holding organs and tissue back, coagulation of blood vessels, providing access to site of operation, and closing the wound by stapling or stitching. Handheld instruments, staples, sutures, and electrosurgical devices are the most commonly used surgical equipment.

The report states that the year-on-year rise in the number of surgical procedures and the growing demand for minimally invasive procedures have fuelled demand from the global surgical equipment market. The rapidly increasing geriatric population and various technical advancements have also augmented the growth of the market.

However, the growing demand for advanced wound closure materials such as hemostats, glues, high-strength medical adhesives, fibrin, and other sealants will negatively impact the market’s growth during the forecast horizon. Additionally, the implementation of the Patient Protection and Affordable Care Act (PPACA) in the U.S. will hamper the growth of the market in North America. There have been a number of incidences of product recalls owing to the side effects associated with some surgical devices. This will also restrain the market. The overall market has a huge scope to grow across the emerging economies in Latin America, Asia Pacific, and Eastern Europe.

In terms of product type, the report broadly segments the global surgical equipment market into surgical sutures and staples, surgical handheld instruments, and electrosurgical devices. The surgical handheld instruments segment has been further divided into forceps, scalpels, retractors, and scissors. The demand for surgical sutures and staples was the highest in 2012 and the segment accounted for over 55% of the market. However, during the forecast period, the segment is expected to lose market share to electrosurgical devices.

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The report studies the surgical equipment market across four key regions: North America, Europe, Asia Pacific, and Rest of the World. Presently, the overall market is dominated by Europe and North America. However, growing public investment in the healthcare sector across Latin America and Asia Pacific is expected to fuel the demand for surgical equipment.

The report profiles some of the key players in the global surgical equipment market such as Covidien plc, Ethicon Inc., B. Braun Melsungen AG, Integra LifeSciences Holdings Corporation, CONMED Corporation, CareFusion Corporation, ERBE Elektromedizin GmbH, KLS Martin LP, Medicon eG, Aspen Surgical Products Inc., and Stryker Corporation. It also provides detailed information about the key players including their product portfolio, financial overview, business strategies, and recent developments.

Big Expectations for the future of Surgical Procedures Volume Market

Rising geriatric population across the world has been identified as a major factor fueling the growth of the surgical procedures market. This is primarily due to elderly people are highly susceptible to various chronic disorders. Moreover, growth in the global population over 65 years of age would highly affect market growth. According to the U.S. Census Board, people older than 65 years represented around 13% of the total population; this percentage is expected to reach 20% by 2030. According to the World Health Organization, the global geriatric population is anticipated to reach 1.5 billion by 2050. Countries aging at a rapid pace are the U.S., Japan, and Germany. Other factors driving the surgical procedures volume globally include increasing incidence of chronic disorders and rise in the number of trauma injury cases. The surgical procedures volume market has been segmented into cardiovascular, orthopedic, neurosurgery, ophthalmic, gynecology, and other procedures such as urology and dental.

The cardiovascular procedures segment has been further categorized into cardiac rhythm management devices implantations, interventional cardiology procedures, and heart transplantation. The interventional cardiology procedures sub-segment held the largest share of the cardiovascular procedures segment due to rising usage of cardiac catheterization in structural heart disease and is becoming complex due to increase in incidence of therapeutic catheterization. According to the American Heart Association, over 5 million people in the U.S. are diagnosed with heart valve disease each year, thereby making coronary angiography the leading segment in the interventional cardiology procedures market. The neurosurgery procedures segment has been sub-segmented into craniotomy, aneurysm coil embolization, CSF drainage, and CSF shunts. CSF drainage was the largest sub-segment of the neurosurgery segment, while the craniotomy sub-segment is anticipated to grow at the fastest rate during the forecast period due to recent developments in intraoperative imaging technologies. Orthopedic procedures have been categorized into three segments: joint replacement surgery, ligament/tendon repair surgery, and spine surgery. Joint replacement was the largest sub-segment of the orthopedic procedures segment. The sub-segment is further segmented into knee replacement, hip replacement, and shoulder replacement surgery. Knee replacement surgery dominated the joint replacement surgery segment as it is considered the most effective intervention for severe osteoarthritis, reducing pain and disability, and restoring patients to near normal function. The ophthalmic procedures segment has been categorized into three sub-segments: cataract surgery, refractive surgery, and glaucoma surgery. The cataract surgery sub-segment held the largest share of the global ophthalmic procedures market and in expected to expand at the highest CAGR due to technological advances and better efficacy of the procedures. Gynecology procedures have been categorized into three segments: hysterectomy surgery, uterine artery embolization, and cesarean section surgery. The continued growth of the global gynecology procedures market is attributed to changing lifestyle, increase in per capita income in the emerging markets, and rising prevalence of gynecological diseases such as menorrhagia, uterine fibroids, and cervical cancers globally. The other procedures segment includes urology procedures and dental procedures. The dental procedures sub-segment is anticipated to witness highest growth rate during the forecast period due to technical advancements leading to higher productivity and efficacy.

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Asia Pacific dominated the global surgical procedures market in 2014, accounting for a share of over 30% primarily due to large patient base, increasing incidence of cardiovascular diseases, traumatic injuries, neurological disorders, and introduction of advanced surgical technologies. Increase in the geriatric population also plays a major role in the growth of the surgical procedures market. Population over 65 years of age in Asia is likely to increase dramatically by 314%, from 207 million in 2000 to 857 million in 2050. This will increase the number of surgery procedures in the region. North America was the fastest growing market for surgical procedures in terms of volume during the forecast period from 2014 to 2023, due to growing innovation and adoption of new surgical technologies, high growth of minimally invasive surgeries, and C-section surgeries. Moreover, efficient reimbursement facilities, large health care infrastructure, rise in the health care expenditure, and high number of hospital beds per capita are anticipated to accelerate the medical infrastructure development in the U.S. making it the dominating segment in North America. Europe was the second largest market for surgical procedures in terms of volume in 2014, accounting for a share of 31.1% of the global market. Primary factors driving growth in the region include increase in the geriatric population and rise in the incidence of fall injuries, traffic-related injuries, cardiovascular diseases, and orthopedic cases. According to the European Commission database, the average number of surgical procedures for cardiac disorders has increased by around 20% from 2005 to 2010. Germany held the largest share of the surgical procedures market in Europe in 2014 due to the better reimbursement mechanism. Brazil accounted for the largest share of the surgery procedures market in Latin America. Growth of the market is attributed to high prevalence of chronic diseases, rise in geriatric population, and increase in health care expenditure. Mexico is expected to be the fastest growing market in Latin America due to low cost of medical treatments and high prevalence of chronic and infectious diseases.

Key Trends Shaping the Global Cardiopulmonary Stress Testing Systems Market

The dramatic change in lifestyles marred by poor dietary intake, lack of exercise, and stressful schedules have all worked towards making the global population susceptible to obesity and related disorders. A growing consequence of this is seen in the rising number of cardiac patients, who, in turn, have increased the uptake of cardiopulmonary stress testing systems. These systems are used for evaluating the condition of the patient’s heart. According to the World Health Organization (WHO), coronary artery diseases account for 64% of overall cardiovascular deaths across the globe, which has become the primary cursor for increasing sales of cardiopulmonary stress testing systems. In a bid to help patients take well-calculated preventive measures, healthcare centers are adopting various types of cardiopulmonary stress testing systems to provide holistic health checkups.

Transparency Market Research’s recently published report states that the opportunity in the global cardiopulmonary stress testing systems will be worth US$6.67 bn by 2023 as compared to US$3.30 bn in 2014. Between 2015 and 2023, the market is expected to rise at a CAGR of 8.20%. The global market will also receive a boost from growing healthcare infrastructure in the developing countries. The increasing disposable incomes, rising awareness amongst people about cardiovascular diseases and other related conditions, and the burgeoning health insurance industry are collectively expected to provide this market an impetus.

Obesity Continues to Fuel North America Market

The North America cardiopulmonary stress testing systems market is expected to expand at a CAGR of 7.3% between 2015 and 2023. The growth in this region will be attributable to the high adoption rate of cardiac monitoring equipment such as cardiopulmonary exercise testing (CPET) systems, pulse oximeters, stress ECG, SPECT, and stress blood pressure monitors. A high incidence of cardiac disorders in the region due to rising cases of obesity are the prime reason for the remarkable growth of this regional market.

The presence of leading equipment manufacturers in the North America cardiopulmonary stress testing systems market, high awareness amongst people, and enactment of laws such as Affordable Healthcare Act have further bolstered the demand for such equipment in the recent years. The market in North America has also benefited from supportive healthcare infrastructure and introduction of innovative products with ongoing research and development activities.

Asia Pacific is anticipated to be the next big regional market in the overall cardiopulmonary stress testing systems market. The improving purchasing power of consumers, a huge population base, and growing number of patients being diagnosed with cardiovascular diseases will keep this region at the forefront of the global market in the near future.

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Demand for CPET Increases with Technological Advancements

Amongst the various types of products studied in the report, the cardiopulmonary exercise testing (CPET) systems are expected to see an upswing in demand. This segment includes portable CPET systems and desktop CPET systems. The critical role of this non-invasive test to ascertain pulmonary, neuropsychological, hematopoietic, cardiovascular, and skeletal muscle systems’ response to exercise has been propelling the growth of these systems. Technological advancements in this equipment to evaluate the functional parameters are anticipated to boost the market’s growth. The report states that the CPET systems segment will expand at a CAGR of 8.5% between 2015 and 2023.

Some of the leading players operating in the global cardiopulmonary stress testing systems market are Spacelabs Healthcare, GE Healthcare, Philips Healthcare, and CareFusion Corporation. Analysts state that players must look at investing in developing regions as the countries will have higher healthcare budgets in the coming years. Furthermore, companies could also benefit from the rising medical tourism industry in the emerging economies that are willing to spend on acquiring new equipment and systems.

Amylases Biofuel Enzymes Market - Latest Trends & Insights 2019

Besides the additional cost of fossil fuels, the global amylases biofuel enzymes market is projected to considerably gain from the increasing demand for energy derived from renewable resources. In a new study, titled “Amylases Biofuel Enzymes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” Transparency Market Research (TMR) presents exhaustive details pertaining to various factors encouraging or inhibiting growth of market.

Overall, the market has been treading along a positive trajectory. However, the high level of carbon emissions from machines deployed at farm plants for biofuels creates bottlenecks for the market. Stringent regulations aimed at curbing carbon emission are therefore expected to hamper the amylases biofuel enzyme producers as well.

Various types of amylase biofuels are currently available in the market, among which cellulosic ethanol is becoming increasingly popular. In addition, scientists have discovered a new enzyme called Caffeoyl shikimate esterase, which is derived from plants. Such discoveries are touted as major breakthroughs in the production of cellulosic biofuels, which are mainly obtained from plastics, chemicals, and crop waste.

Caffeoyl shikimate esterase helps controlling the formation of lignin. Downregulating its functions could reduce 36% lignin per gram of stem materials, which will subsequently boost sugar levels up by four times. The development of this enzyme is therefore expected to prompt a revolution in the amylases biofuel enzymes market.

Regionally, amylases biofuel producers have been witnessing lucrative prospects in Brazil. The country presently leads the global amylases biofuel enzymes market and is expected to continue its dominance through the forecast period between 2013 and 2019. The U.S. has also emerged as an attractive market for amylases biofuel enzymes in the last few years. Ethanol is the most commonly used biofuel additive in the country.

Companies such as Danisco-Genencor and Novozymes have been engaged in the production of enzymes for several years. Together, they account for a dominant share in the production of enzymes. Besides this, Codexis has partnered with Shell to produce enzymes for second generation biofuels. In order to gain a competitive advantage, these companies have been focusing on product development.

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While the amylases biofuel enzymes market is still at a nascent stage, increasing investments in research and development by the aforementioned companies will fuel its growth in the forthcoming years. Furthermore, these companies are planning to invest in the development of myriad potential feedstock to scale up their production process. This is expected to drive the market during the forecast period.

Presently, the global amylases biofuel enzymes market is exhibiting a consolidated vendor landscape. Some of the prominent companies operating in the market include Enzyme Supplies Ltd., Enzyme Solutions Inc., aEnzyme Development Corporation, Jiangsu Boli Bioproducts Co. Ltd, Novozymes A/S, Montana Microbial Products, Schaumann Bioenergy, Noor Creations, Specialty Enzymes & Biotechnologies Co., Royal Dsm Nv, and Verenium Corporation

Big Expectations for the future of Opioid Induced Constipation Treatment Market

Transparency Market Research has published a new market report titled, “Opioid Induced Constipation Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023”. According to the report, the global opioid induced constipation treatment market was valued at US$0.4 bn in 2014 and is anticipated to expand at a CAGR of 31.2% from 2015 to 2023 to reach US$4.8 bn by 2023.

The report provides detailed analysis of current and emerging drugs for opioid induced constipation treatment, and the market is estimated based on type of drug class and dosage form of the drugs. Drug classes include mu-opioid receptor antagonist, chloride channel activator, and others based on their mechanism of action. Based on dosage form of drugs, the market has been segmented into solid, semi-solid, and liquid.

The chloride channel activator segment accounted for the largest share of the opioid induced constipation treatment market in 2014 due to first approval and launch of Amitiza in major countries. However, mu-opioid receptor antagonist was the fastest growing segment due to recent launch of the new drug Movantik and presence of pipeline drugs (naldemedine and other early stage drugs). Mu-opioid receptor antagonist drugs target the root cause of constipation by acting on specific peripheral opioid receptors, which revert the opioid action without affecting opioids analgesic action. Presently, Amitiza is the only available drug that belongs to the chloride channel activator class. However, mu-opioid receptor antagonist class consists of Movantik (AstraZeneca), Relistor (Valeant Pharmaceuticals, Inc.), and Naloxone. Additionally, naldemedine is in the late stage clinical trial. The drug is investigational, oral, mu-opioid receptor antagonist and is expected to launch in mid-2016. In August 2015, Shionogi’s naldemedine met primary and secondary endpoints in phase III clinical trial (COMPOSE II) to treat opioid induced constipation. Linaclotide is another potential drug, which is currently in phase II clinical trial. Phase I clinical trial (KODIAK16) is underway to assess the efficacy and safety of naloxegol in the treatment of opioid induced constipation in pediatric patients. The trial is expected to be completed in November 2017. Hence, launch of pipeline drugs during the forecast period is expected to boost the growth the PAMORA segment. The others segment includes Resolor (prucalopride), bulking agents (cellulose and psyllium), stool softeners (docusate), laxatives, and osmotic agents (lactulose, sorbitol, and polyethylene glycol). Major players in this segment are Boehringer Ingelheim GmbH and C.B. Fleet Company, Inc. Traditional laxatives are not legally approved for the treatment of opioid induced constipation. However, low cost of therapy, high awareness, and easy access to medicines accounted significant share of the opioid induced constipation treatment market. For instance, monthly cost of standard laxative therapy ranges from US$ 6 to US$ 80. However, monthly cost of Amitiza ranges from US$ 300 to US$ 400 and from US$ 600 to US$ 1000 for Relistor. Asia Pacific, Latin America, and Middle East & Africa are the major consumers of traditional medicines used to treat opioid induced constipation due to easy access, low cost, and less awareness about targeted therapy.

Furthermore, based on dosage form, the market has been segmented into solid, semi-solid, and liquid. The solid dosage form segment accounted for the largest share of the market in 2014. The segment is expected to maintain its leadership position during the forecast period. This is due to high patient compliance and launch of new drugs in solid form such as capsules, tablets, and pills. The semi-solid and liquid dosage form segments accounted for small shares of the market.

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The number of players operating in the opioid induced constipation treatment market is small, while demand for the therapy is high. Major players operating in the global opioid induced constipation treatment market are AstraZeneca plc, Takeda Pharmaceutical Company Limited, Abbott Laboratories, Valeant Pharmaceuticals International, Inc., Bayer AG, C.B. Fleet Company, Inc., Boehringer Ingelheim GmbH, Daewoong Co. Ltd., and Cosmo Pharmaceuticals. Acquisitions and collaborations among major companies to commercialize OIC medicines are expected to boost the market during the forecast period. For instance, in March 2015, AstraZeneca and Daiichi Sankyo signed a co-commercialization agreement for Moventik in the U.S. In addition, in October 2014, Takeda and Sucampo entered into global license, development, and commercialization agreement for Amitiza. Hence, strategic agreements between companies are expected to drive the opioid induced constipation treatment market during the forecast period from 2015 to 2023.

Global Membrane Technology Market Boosted by Rise in Pharmaceutical Industry, Poised to Reach US$10.8 bn by 2019

The global membrane technology market is experiencing a significant rise in its valuation. The increasing research and development activities in membrane technology and the growth of several industries such as life sciences, pharmaceutical, and biopharmaceutical in terms of production volume are propelling this market substantially across the world. North America has been leading this market since the last few years. However, Asia Pacific is likely to emerge as the fastest growing membrane technology market across the world.

A research study by Transparency Market Research (TMR) has stated that the worldwide market for membrane technology stood at US$6.4 bn in 2013. Analysts estimate this market to expand at a CAGR of 9.10% between 2014 and 2019 and reach a value of US$10.8 bn by the end of 2019.

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What are the key factors driving the global membrane technology market?

The introduction of single-use disposable technology for biopharmaceutical products is the main driving force behind the robust growth of this market. Other than this, the implementation of stringent regulations regarding sterilizing drugs and medications during production is fueling the demand for membrane filtration, adding significantly to the market’s rise.

The continual advances introduced in the membrane technology are also boosting the market for membrane technology considerably across the world.

What are the major challenges faced by this market?

The global membrane technology market faces severe challenges from membrane fouling. In various processes such as membrane bioreactor, solutions or particles get deposited on the surface of the membrane, degrading its performance, thereby hindering the filtration process.

Apart from this, the high capital investment and operational cost associated with membrane technology also restrict companies to venture into this market, impeding its growth.

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What are the key strategies adopted by players operating in this for business expansion?

Most of the participants in the global membrane technology market are focusing on research and innovation as well as advancement of existing products to gain competitiveness in the market. One of the leading market players, the US-based GE Healthcare Life Sciences, has recently introduced a new ultrafiltration membrane technology for water treatment, named ZeeWeed 700B to be used in the offshore oil and gas market. This new horizontal-designed, inside-out UF membrane provides removal of solids in oil and gas applications and pre-treatment for seawater used for injection.

In May 2015, the company launched a novel nanofiltration membrane for seawater sulfate removal, specially designed for the upstream oil and gas market.

Mergers, acquisitions, and partnerships have also been popular among market players looking for strengthening their positions by expanding their product portfolios. Advantec MFS, Amazon Filters, Trisep Corp., Novasep, Koch Membrane System, Merck Millipore, 3M Co., and Sartorius are some of the other major enterprises operating in the worldwide membrane technology market.

Demand for Corporate Wellness Programs fueled by Concerns over Employee Wellness

Employers are implementing corporate wellness programs that focus on the improvement of the mental and physical health of their employees. These programs aid organizations in many ways in increasing productivity and reducing attrition rate. A market research report by Transparency Market Research, titled “Corporate Wellness Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” focuses on the key trends pertaining to corporate wellness programs at organizational, regional, and global levels.

The report presents a comprehensive overview of the drivers and restraints and their impact on the global corporate wellness market. Government initiatives play a key role in the growth of this market. For instance, in the U.S., the Affordable Care Act with its reform has increased the cap on perks offered to employees for participating in health-related wellness. Also, several governments worldwide have mandated the implementation of wellness programs across medium and large organizations. Moreover, increasing industrialization has also played a vital role in the growth of the global corporate wellness market. The effectivity of these programs in retaining valuable human resource has increased its adoption in large as well as small organizations.

On the flip side, the success of corporate wellness programs depends on active participation of the employees. Currently, inefficient execution of these programs owing to low awareness and lack of participation are acting as key restraint in the growth of the global corporate wellness market. However, the rising adoption of reward-based approach has stirred up the active participation of employees. Moreover, improvements in wellness programs are likely to present notable opportunities to the service providers catering this market.

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Geographically, the global corporate wellness market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. The inception of corporate wellness programs in North America and Europe happened many years ago and these are well rooted in these regions. However, Asia Pacific holds immense potential for service providers in the corporate wellness market. Rapid industrialization, increasing governments’ initiatives and improving economic conditions increase the scope for corporate wellness programs in this region.

The report provides insights into the competitive landscape of the global corporate wellness market. It also mentions profiles of the key players including their market share, revenue and cost structure, product specification, capacity, latest development, and contact information. It also offers a list of recommendations for the new market entrants. The key players in the global corporate wellness market are Corporate Wellness Solutions, FitLinxx, GCC Group, Provant Health Solutions, and Trotter Wellness. Also, Fitbit, an activity monitor manufacturer is expanding its business by offering corporate wellness solutions.

Disposable Pain Pumps Market Segment Forecast up to 2019

Pain pumps or intrathecal drug delivery is a method of delivering medication e.g. an opioid directly to the spinal cord. The system incorporates a small pump which is surgically placed under the abdominal skin that delivers medication through a catheter to the area around the spinal cord. Pain pumps are generally advised if all other traditional methods have failed to provide relief from long term symptoms. As the medication is delivered directly to the spinal cord, amount of dose required is much smaller than is needed with oral medication. The pumps are programmed to release small amount of medication over a period of time. These pumps can be programmed to deliver medication at a constant rate as well as in varying amount at different times of the day depending upon patient need and conditions. Once the pump reservoir gets over it can either be refilled with the help of a syringe or can be removed permanently.

Major drivers for disposable pain pump market includes significant pain reduction caused by Failed back surgery syndrome, Reflex sympathetic dystrophy, cancer pain. Ability to perform daily routine activities, low medication of dose, safety and effectiveness and ease of device removal also promotes the adoption for pain pump devices. Recent FDA approvals such as Prometra drug-delivery pump from Flowonix Medical Inc. and SynchroMed(R) II Programmable Pump from Medtronic, Inc. will help in driving demand for pain pumps in coming years. Surgical complications such as infections, side effects, spinal fluid leak leading to headache, occurrence of Inflammatory mass at the tip of the catheter breakdown of device due to failure of critical parts, component or battery are some of the restraining forces for this device market.

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Geographically North America and Europe market are leading because of trends in clinical practice, guidelines and protocols, reimbursement, regulatory affairs, and the competitive marketplace. Emerging economies of Asia, Middle East and Latin America are predicted to incur the high growth due to growing disease awareness and rising affordability in order to undertake such procedures.

Some of the key players contributing to the disposable pain pumps includes Advanced Infusion, Alaris Medical Systems Inc., Baxter International Inc., Deltec Inc. (Smiths Medical MD, Inc.),I-Flow Corp., McKinley Medical LLLP, Orthofix International, NVSgarlato Laboratories, Sorenson Medical Inc. Stryker Corp.

Restriction Endonucleases Products Market - Global Industry Analysis, Trends and Forecast 2015 – 2023

Restriction enzymes or restriction endonucleases (RE) are the enzymes that are found in the bacteria and are harvested from them for their use in research and commercial aspects. These enzymes cut the deoxyribonucleotide (DNA) at specific nucleotide sequences and the biological function of these enzymes is to protect cells from foreign DNA . Nomeclature for these enzymes is based on the first letter of the genus followed by first two letters of the species and name of the bacteria of origin. These enzymes find applications in various research activities involving molecular biology techniques.

For instance, these enzymes are used as key reagents in processes such as restriction fragment length polymorphism (RFLP), genomic mapping, several recombinant procedures and DNA sequencing. There are four classes of restriction endonucleases namely types I, II, III and IV of which class II enzymes are the most popular and more useful as compared to others. The reason being the specific determination of the DNA sequences and generate termini with 5’ phosphate and 3’ hydroxyl groups and are capable of recognizing non-palindromic sequences. There has been continuous evolution of the new prototype activities that render continuous updates about new recognition sites along with the commercial availability. REBASE is such one database that provides monthly updates about the above mentioned factors.

Till date more than 10,000 bacteria are screened for the presence of restriction enzymes and currently there are more than 2,500 restriction enzymes have been discovered along with over 250 distinct specificities in sequences. The microorganisms that produce RE also produce DNA methyltransferases and this feature protects their own DNA from cleavage.

These enzymes are used in conventional cloning, deciphering epigenetic modifications, construction of DNA libraries and in vivo gene editing. The market for restriction endonucleases can be segmented by various types that are available commercially and the respective application areas. Companies such as New England Biolabs, Inc. and Thermo Fisher Scientific engage in development and marketing of various types of restriction enzymes (A-Z). For instance, New England Biolabs, Inc. offers restriction enzymes in variable sizes such as 500 and 2,500 units. These units are priced at USD 57.00 for one unit. In addition, Thermo Fisher Scientific also offers these by FastDigest (176) brand and Conventional enzymes.

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Factors such as regulatory policies and product approvals govern the market growth. Furthermore, it can be classifies by the applications and end users. Pharmaceutical and biotechnology companies along with academic research institutes utilize these REs in various activities. Geographically, North America and Europe are the highest revenue generators in this market owing to increasing research and development activities followed by the presence of manufacturers in these regions. On the other hand Asia Pacific and Rest of the World (RoW) regions present lucrative opportunities for the growth of this market due to increasing research projects funding by the respective governments followed by increasing commercial production of these enzymes.

There is a tremendous growth potential in acceptance of these enzymes owing to increasing implementation of molecular biology techniques and processes followed by increasing research and development activities making use of these enzymes. On the other hand, factors such as high cost of downstream activities coupled with variable reliability and accuracy of these enzymes are some factors that might restrain the market growth. Agilent Technologies, Inc., Genetix Biotech Asia Pvt. Ltd., New England Biolabs, Inc., ThermoFisher Scientific, Inc., and Promega Corporation are some of the key market players operating in this market.

Negative Pressure Wound Therapy Market to Expand at CAGR of 10.2% due to Increased Awareness on Advanced Wound Care Devices

The global negative pressure wound therapy (NPWT) market is characterized by the dominance of a handful of players such as Kinetic Concepts Inc., Devon Medical Inc., Smith & Nephew PLC, and Medela AG. Among these, Kinetic Concepts Inc., emerged as the clear leader with 79% of the market share in 2013.

A TMR analyst points out, “Geographical business expansion is one of the key growth models that top companies in this market are focused on for competitive advantage.” An excellent example is ArjoHuntleigh, the company is aggressively engaged in expanding business operations globally to address the unmet medical needs of patients. In recent years, the company has invested heavily in key emerging markets such as India, China, and Brazil for business expansion.

Strong customer relations is one of the key growth strategies that leading companies in this market are focused on. For example, ArjoHuntleigh is focused on developing strong relationship with customers to attain long term business goals.

Introduction of new products remains at the center of business activities for leading companies in the global NPWT market. This is mainly to introduce new products that are more effective than predecessor products for wound care.

High Occurrence of Chronic Diseases among Geriatrics Pushes Uptake of Advanced Wound Care Products

An increasing geriatric population is one of the foremost factors driving the global negative pressure wound therapy market. According to the World Health Organization, the population of individuals above the age of 65 years is expected to increase from 13% to 53% between 2010 and 2020. The significant rise in aging population is expected to spur the incidence of chronic diseases such as cancer and diabetes, which are associated with skin ulcers. This will drive the NPWT devices market in the coming years.

The increasing rate of occurrence of acute and chronic wounds is also boosting the growth of this market. Skin ulcers of various types often cause pus formation and require advanced wound care products such as NPWT. In particular, decubitus ulcers have been a major concern among bedridden elderly patients suffering from chronic diseases such as diabetes and cancer. Moreover, the number of casualties due to accidents is also escalating the demand for advanced wound care products.

Introduction of novel technologies and newer products boosts the growth of NPWT market. The use of innovative technologies such as nanotechnology, electrical stimulation, low level laser therapy, and therapeutic ultrasound to specialty wound dressing kits is also fuelling the market’s growth.

High Cost of NPWT Systems Hinders Market Growth

Reluctance to adopt technologically advanced products is impeding the growth of the global negative pressure wound therapy market. The high cost of advanced wound therapy is primarily limiting its use for healing purposes. Healthcare providers and physicians in Europe and Asia are reluctant towards adoption of advanced wound care products as compared to the physician in the U.S. due to the high cost factor.

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Unfavorable reimbursement policies for NPWT are also hampering the growth of this market. Due to the high price factor of advanced wound care products, major public and private insurers worldwide have revised reimbursement policies pertaining to the use of these products. This is impacting the growth of the NPWT market.

The global negative pressure wound therapy market is expected to be worth US$2,987.2 mn by 2020, states TMR. On the basis of type of device, conventional NPWT systems is the leading segment of this market. However, single use NPWT systems are expected to display a substantial growth rate in the coming years.

Currently, North America is the leading market for NPWT due to favorable reimbursement policies in this region.

The information presented in this review is based on a Transparency Market Research report, titled “Negative Pressure Wound Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

Global Geriatric Care Services Market's Future Lies in Home Care Services Segment, Expected to Surpass US$850 bn by 2019

The proportion of geriatric population amongst the total population continues to grow and is the single largest driver for the growing global geriatric care services market. Changing family structure in most developed countries has resulted in decrease in time family caregivers can provide. This factor has been crucial in developing and shaping of geriatric care services market. Furthermore, the industrial development and improved job opportunities in the emerging nations of Asia-Pacific have resulted into more people working away from home. This has further led to unavailability of family caregivers which is incentivizing formal care providers. Along with this a large fraction of geriatrics today wish to continue their professional lives but require moderate support from care services. The market in the region has begun developing and returns from geriatric care business in the region are expected to grow in the coming years. The global geriatric care services market was valued at USD 560.4 billion in 2012 and is expected to reach USD 850.0 billion by 2019, growing at a CAGR of 5.9% during the forecast period 2013 to 2019.

The global geriatric care services market is broadly categorized into home care services, adult daycare services, and institutional care services. The institutional care services market constituted the largest segment in the global geriatric care services market while home care services market is expected to witness fastest growth amongst all the segments during the forecast period 2013 to 2019. The freedom to stay at home and cost containment are the prime reasons which explain the emergence of home care services market in the overall geriatric care services market. This segment of market provides unique advantages such as less expensive, desired stay at home and more independence which is helping to gain traction in the steadily growing global geriatric care services market. The shortage of other available options such as nursing homes and assisted living communities in the developing regions is also propelling the growth of global geriatric home care services market.

In 2012, North America was the largest market for geriatric care services contributing to larger proportion of the global market followed by Europe region. These two regions are expected to maintain their leading positions in the global market during the forecast period from 2013 to 2019. Although the market for senior care services in the developed nations of North America and Europe is structured, it is yet in a developing phase. Moreover, the market is absolutely in budding stage in other parts of the world, particularly in countries such as China and India where the situation of elderly care is expected to become grave in the coming years. The market dynamics in China are more rapidly changing relative to India since it has more elderly population while India is still known to be a young country. China will be an attractive destination for the international industry players such as Home Instead Senior Care, Inc., as the government has decided to allow private investments in country’s elderly care services market.

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Brookdale Senior Living, Inc., Extendicare, Inc., Genesis HealthCare Corp., Gentiva Health Services, Inc., GGNSC Holdings, Home Instead Senior Care, Inc., Kindred Healthcare, Inc., Senior Care Centers of America, Skilled Healthcare Group, Inc., and Sunrise Senior Living, Inc. are some of the major companies operating in the global geriatric care services market.

Europe Ambulatory Surgical and Emergency Center Services Market Propelled by Increasing Geriatric Population, Poised to Reach US$42.8 bn by 2020

With few companies presently operating and a large number of vendors expected to be enter in the next few years, the Europe ambulatory surgical and emergency center services market features a moderate level of competitive rivalry, reports a recent TMR report. The vast growth opportunities in the market can be understood from the fact that nearly 98% cataract surgeries and nearly 63% hernia repair surgeries are undertaken in ambulatory surgical units in the U.K. presently.

Only a few companies in the market, such as Community Health Systems, Inc., Healthway Medical Group, and Medical Facilities Corporation, have operations across more than four specialty segments that come under the purview of the market. As a result, these three companies, with operations across a larger number of these specialty segments, including ophthalmology, pain management, gastrointestinal ailments, orthopedic, and dermatology, presently command leading positions in the market. Other key vendors in the market are AmSurg Corporation, Eifelhoehen-Klinik AG, NovaMed, Inc., and Symbion, Inc.

Long Waiting Periods for Specialist Appointments and Reduced Treatment Costs Increase Preference to Single-day Surgeries

Long waiting periods for availing specialist appointments and undergoing complex surgeries are a key factor compelling patients to migrate from hospitals to day care centers or free standing units. Studies have indicated that across European countries such as the U.K., France, Norway, and Sweden, the issue of dearth of timely access to medical services is a key factor driving the demand for ambulatory surgical and emergency center services, which promise timely execution of surgeries. The vast reduction in costs of overall treatment possible with opting day surgery options is also a key factor driving the increased demand for ambulatory surgical centers in Europe.

Along with these factors, the vast technological advancements in the field of surgery, which have enabled the formation of smaller and fewer wound sites and faster recovery of patients, has also helped increase the number of surgeries that can be undertaken in outpatient settings. The vast rise in Europe’s geriatric population and increased life expectancy, leading to an increased number of patients with chronic health conditions, have also significantly boosted the requirement for ambulatory surgical and emergency center services in Europe.

Lack of Adequate Facilities and Reluctance to Day Surgeries to Hinder Market Growth

The lack of adequate facilities for ambulatory surgeries across a vast number of healthcare facilities in Europe is a key factor restraining the growth prospects of the Europe ambulatory surgical and emergency center services market. The presence of a large number of conventional hospital beds in countries like Austria compel patients to opt for conventional surgical procedures.

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Along with this, the reluctance shown by some people for day surgeries, owing to the belief that day surgeries could be unsafe and not very effective, is also a chief factor limiting the overall growth prospects of the Europe ambulatory surgical and emergency center services market. Similarly, reluctance by primary care teams to adopt day surgeries, owing to the belief that the transition would result in an increase in their workloads, is also restraining the market’s growth to a certain extent.

Orthopedic Surgeries to Take the Lead

Transparency Market Research states that the Europe ambulatory surgical and emergency center services market, which had a valuation of US$23.08 bn in 2015 in terms of revenue, is expected to rise to US$42.81 bn by 2020. The segment of orthopedic surgeries is presently the leading contributor to the market’s overall revenues, having a valuation of US$11.39 bn in 2015. It is also expected to a key contributor to the market’s revenue over the forecasting horizon. In terms of geography, the U.K. emerged as the top revenue generator in the overall market, with a revenue contribution of US$6.10 bn in 2015.

This review is based on a recent market research report published by Transparency Market Research, titled “Europe Ambulatory Surgical & Emergency Center Services Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”

Global Biotechnology Market Recovering from Post Recession Crunch, Expected to Reach US$414.5 bn by 2017

According to a recent market research report published by Transparency Market Research, the global biotechnology market is estimated to expand at a CAGR of 11.60% during the period between 2012 and 2017. The report, titled “Global Biotechnology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2010 - 2017”, projects the global biotechnology market to be worth US$414.5 bn by the end of 2017. The overall market stood at a valuation of US$216.5 bn in 2011.

The report points out that the growing demand for food and limited availability of nonrenewable natural resources will augment the growth of the global biotechnology market. The favorable regulatory scenario governing biotechnology R&D and applications will also boost the market. However, the report mentions that ethical issues associated with clinical trials, coupled with the long research and development lead time, might restrain the growth of the market during the forecast horizon. The global biotechnology market has a huge opportunity to grow with the emergence of biosimilars and increasing application of biotechnology in medical sciences. Cloning, stem cell technology, and nanotechnology are expected to define the future outlook of the market.

In terms of technology, the report segments the global biotechnology market into polymerase chain reaction technology, fermentation technology, tissue engineering and regeneration technology, nanobiotechnology, chromatography, cell-based assay, DNA sequencing technology, and others including fingerprinting and enzyme technology. The demand for nanobiotechnology is projected to rapidly increase in the near future.

On the basis of application, the global biotechnology market is broadly categorized into bioagriculture, biopharmacy, bioindustrial, and bioservices. In 2011, the biopharmaceuticals segment accounted for a 60% share in the market owing to an increase in government funding, widespread technological advancements, and availability of cheap labor in developing economies such as India, China, and Thailand. Increasing demand for food in developing countries is expected to boost the market. Bioseeds offer greater advantages compared to conventional seeds and hence will register exponential growth in demand during the forecast period. This will propel the growth of the bioagriculture segment. By 2018, the segment is projected to reach a valuation of US$27.46 bn.

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The report studies the global biotechnology market by segmenting it into four key regions: North America, Asia Pacific, Europe, and Rest of the World. North America leads the overall market thanks to the growing focus on renewable chemicals of countries in the region. In 2011, the region accounted for a 42% share in the market.

The report profiles some of the key players in the global biotechnology market such as Amgen Inc., Abbott Laboratories Inc., AstraZeneca plc, Celgene Corporation, Biogen Idec Inc., F. Hoffman La Roche Ltd, Genzyme Corporation, Genentech Inc., Gilead Sciences, Johnson & Johnson, GlaxoSmithKline plc, Pfizer Inc., Lonza Group Ltd., Novartis International AG, Merck & Co. Inc., Novo Nordisk A/S, and Sanofi. Insightful details about the key players, including their financial overview, business strategy, and recent developments, have been included in the report.

New Trends of Laboratory-Developed Testing Market with Worldwide Industry Analysis to 2023

A laboratory-developed test (LDT) is a kind of in-vitro diagnostic test that faces a limitation of being developed, manufactured and processed within an individual laboratory. In the United States, the federal government regulates the development, manufacturing and use of LDTs through the Centers for Medicare and Medicaid Services (CMS) and the Clinical Laboratory Improvement Amendments (CLIA). In July 2014, the United States Food and Drug Administration (FDA) announced to start regulating some LDTs. A number of LDTs are commercially available for the analysis of substances such as DNA, proteins, glucose and cholesterol in sample taken from human beings. There are many hospitals and laboratories that prefer to offer their own LDTs, even though FDA-approved in-vitro diagnostic tests are available on the market for the same analyte. LDT developers cannot sell their proprietary tests to hospitals, clinical laboratories and physician offices directly, and hence, adopt a business model wherein they enter into partnerships with diagnostic service providers and pathology labs that collect the sample and ship it to them.

Globally, the market for laboratory-developed testing is expanding year on year at double digit rate. Continued developments in technology leading to the introduction of new LDTs, growing demand for personalized treatment and consistent rise in overall patient population are among the major factors driving the market for laboratory-developed testing. In October 2011, Sequenom, Inc. introduced a laboratory developed non-invasive prenatal test, MaterniT21 (now MaterniT21 PLUS) for the determination of fetal chromosomal aneuploidies by analyzing the fetal cell-free DNA circulating in the maternal blood. NIPTs are contributing significantly in the overall growth of laboratory-developed testing market. FDA approved in-vitro diagnostic tests that are considered safe and accurate than LDTs, are expected to affect the laboratory-developed testing market growth to some extent.

In terms of geography, the global market for laboratory-developed testing can be categorized into four major regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). North America represented the largest regional market for laboratory-developed testing in 2013. Reimbursement coverage for major LDTs has been one of the major reasons responsible for North America holding leading position in terms of laboratory-developed testing market across the globe. Europe was the second largest market for laboratory-developed testing after North America in 2013. In Asia-Pacific region, the laboratory-developed testing market is expected to grow under the influence of factors such as the presence of a large pool of patients suffering from various diseases and emerging economy of countries including India, and China. In RoW region, Latin America, Middle East and Africa are the most potential markets. Continuously improving healthcare infrastructure of these regions is expected to play a key role in driving the growth of laboratory-developed testing market.

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Sequenom, Inc., Quest Diagnostics, Laboratory Corporation of America Holdings (LabCorp), ARUP Laboratories, Myriad Genetic Laboratories Inc., Precision Therapeutics Inc., RedPath Integrated Pathology, Inc. and CardioDx are some major diagnostic laboratories that are engaged in the business of laboratory-developed testing. Sequenom Laboratories, a business subsidiary of Sequenom, Inc. offers a variety of LDTs related to non-invasive prenatal and women’s health and other diseases such as cancer, autoimmune and neurological disorders. MaterniT21 PLUS, HerediT CF, SensiGene RHD and RetnaGene AMD are the LDTs being developed and marketed by Sequenom Laboratories. Some other examples of LDTs include Corus CAD by CardioDx, ChemoFx assay by Precision Therapeutics Inc. and PathfinderTG by RedPath Integrated Pathology, Inc.

Hematology Diagnostics Market Forecast up to 2023

Hematology refers to a branch of medicine, which is concerned, with the diagnosis, prevention, and treatment of diseases related to blood, bone marrow, vascular systems, immunology and hemostasis (i.e. blood clotting). Hematological tests can diagnosis various blood related diseases, anemia, leukemia, autoimmune disorders, and blood cancers among others. Hematology constitutes various in vitrodiagnostic (IVD) techniques such as, molecular diagnostics, hemostasis, blood analysis, histology, flow cytometry, and immunodiagnostics, which helps to measure more parameters in blood with a higher precision at comparatively lower cost.

The major factors driving the hematology diagnostics market include, rising incidences of blood related disorders, for instance as per the data stated by the Leukemia & Lymphoma Society (LLS) approximately 9.8% of the population in U.S. was diagnosed with leukemia, myeloma and lymphoma of the 1,658,370 new cases of cancer in 2015. Moreover, data from the National Hemophilia Foundation states that, worldwide approximately 400,000 cases are suffering from hemophilia. Population aged 65 and over isprojected to reach 83.7 million in 2050, which is twice that, estimated in 2012 as per the Administration for Community Living. In addition, technological advancements, government initiatives supporting healthcare infrastructure are some of the factors fueling the growth of the hematology diagnostics market.

Integration of flow-cytometry techniques in analyzers, developments in point of care (POC) hematology testing and introduction of digital imaging systems in labs and increasing use of microfluidics technology in analyzers are creating opportunities in the global hematology diagnostics market. Whereas, product recalls, high cost of hematology diagnostic instruments, lesser adoption in emerging economies and poor health insurance and reimbursement coverage are the major restraints of the global hematology market.

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The global hematology diagnostics market is segmented based on products, end-user and geography. Based on product type, the global hematology diagnostics market is further segmented into hematology analyzers and hematology reagents market. Hematology analyzers perform complete blood counts, coagulation or erythrocyte sedimentation rates (ESRs) tests.Automated hematology analyzers play an important role in transfusion medicine and in blood banks to perform quality check of blood samples and to screen the donors. There is a significant market shift of the hematology diagnostics instruments from manual testing to semi-automated or fully automated instruments.The manufacturers compete mainly on the number of parameters measured, reagents consumed, style, and price. Based on end-user the global hematology diagnostics market is segmented into hospitals, clinical laboratories, and academicand research institutes among others.

Geographically, the global hematology diagnostics market is categorized into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America. North America dominated the global hematology diagnostics market due to increasing blood disorders, increasing ageing population. For instance, as per the U.S. Census Bureau by 2030, approximately 20% of the population in U.S. are projected to be 65 years and above. Moreover better accessibility and availability of testing services are set to drive the market in North America. Whereas, Asia Pacific is growing at a high CAGR due to improving healthcare infrastructure, large patient base, government initiatives, and due improved purchasing power of buyers.

Some of the key players in the global hematology diagnostics market are Beckman Coulter, Abbott Laboratories, HemoCue AB, HORIBA, Ltd., Siemens AG, Sysmex, Mindray Medical International Limited., Roche Diagnostics A/S, Bio-Rad Laboratories, Inc. among others.

Global Organ Preservation Solutions Market to Expand at 16.50% CAGR due to High Incidence of Organ Failure Cases Worldwide

A new Transparency Market Research report states that the global organ preservation solutions market was valued at US$0.06 bn in 2012 and is expected to reach US$0.20 bn by the end of 2019, by rising at a 16.50% CAGR between 2013 and 2019. The title of the report is “Organ Preservation Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.”

In case of organ donation surgeries, the process of the perseveration of donated organs starts after the removal of the required organ, such as liver, kidney, heart, or pancreas, from the body of the donor. The organ is placed in a number of layers of sterile containers and an icy slush mixture surrounds these sterile containers. This mixture is known as an organ preservation solution. The goal of this solution is to keep the organs cold but not frozen. This solution aids in maintaining the viability of the organs starting from the time of donation of the organ to the time of transplantation.

As per the report, the increasing technological developments are amongst the key factors fuelling the growth of the market. For instance, Lifeblood Medical, Inc.’s launch of Lifor, also known as blood surrogate, being presently used for research purposes, may effectively be employed for the preservation of veterinary and human organs in the coming years. In addition, the upswing in per capita healthcare expenditure in a number of nations globally will also have a positive impact on the market for organ preservation solutions. Furthermore, the increasing aging population globally will also augment the development of the market. On the other hand, the soaring cost of procedures and the unavailability of organ donors are amongst the chief factors that may impede the growth of the market in the forthcoming years.

On the basis of solution, the report segments the market for organ preservation solutions into Viaspan, Custodiol HTK (Histidine-Tryptophan-Ketoglutarate) Solution, RENOGRAF, HypoThermosol, PERFADEX, Lifor, Human BioSystems (HBS) Solution, siRNA Transplant Solutions, and others. Amongst these, in 2012, Custodiol HTK Solution led the market on the basis of revenue and is poised to expand at the highest growth rate in the forecast horizon. This is owing to its increasing usage in the preservation of various organs such as lungs, liver, pancreas, and kidneys.

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By preservation technique, the report segments the market into hypothermic perfusion preservation (HPP), static cold storage (SCS), and others. Amongst these, SCS is leading the market owing to it being a more cost-effective and user-friendly technique for physicians in comparison to HPP. However, HPP is anticipated to experience the highest demand in the forecast period owing to its benefit of organ preservation for longer periods of time. In addition, the decreasing count of organ donors and the rising demand for organs globally will also propel the demand for HPP in the coming years.

Geographically, the market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, in 2012, Europe led the market for organ preservation solutions owing to the rising count of donors within countries such as Spain.

Bristol-Myers Squibb, Teva Pharmaceutical Industries Ltd., Dr. Franz Kohler Chemie GmbH, and XVIVO Perfusion AB, among others are the players dominant in the market, as per this study.

Synthetic Biology Market to Reach US$13.4 bn by 2019 due to Increasing Demand for Enhanced Vaccines and Drugs

Synthetic biology is a synergistic combination of biology and engineering for the construction of artificial biological system in order to gain desired functions (i.e. to reduce cost or improve efficacy). It comprises nascent technologies that enable synthesis of novel biological parts and organisms that are used in the field of healthcare, chemicals, agriculture and others (biosecurity, R&D and energy and environment). The synthetic biology market is witnessing rapid growth owing to increase in demand for renewable fuels and bio-based chemicals and inexpensive drugs and vaccines that utilizes synthetic biology technologies and products. In addition, participation of various organizations such as BioBricks, DIYbio and SynBERC, for the development of synthetic biology field will further augment the growth of this market during the forecast period. However, high cost and strict regulations to use synthetic biology techniques hampers the growth of this market. The global synthetic biology market is estimated to be USD 1,769.8 million in 2012 and is expected to reach USD 13,375.5 million by 2019, growing at a CAGR of 32.6% from 2013 to 2019.

Synthetic biology market is segmented mainly by products, by technologies and by applications. Synthetic biology, by product segment is classified as core products and enabling products. Core products are further segmented into synthetic DNA, synthetic genes, synthetic cells, XNA and chassis organisms. The synthetic biology market by core products was dominated by synthetic DNA market in 2012 owing to the commercial availability of this product, compared to other synthetic core products expected to be launched in the market in coming years.

Synthetic biology market, by technologies is segmented as genome engineering, DNA sequencing, bioinformatics and biological components and integrated systems. Genome engineering technology can be used to modify genetic foods, gene cloning and gene therapy. Thus, application of genome engineering increases the scope to utilize this technique and hence accentuates the growth of this market.

Applications of synthetic biology are healthcare, chemicals, agriculture and others. Synthetic biology in healthcare holds largest market share in terms of revenue due to high utilization of synthetic biology techniques to produce cheap drugs and vaccines. Also, commercial availability of synthetic DNA and synthetic genes supports the growth of the healthcare application in the synthetic biology market. Agriculture segment is expected to grow at the highest growth rate during the forecast period.

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Europe contributed the largest share of the global synthetic biology market in 2012 and is expected to grow consistently, owing to increasing efforts of government and private organizations towards the development of this field. North America contributed the second largest share of the total market in 2012. Introduction of novel technologies by will help the growth of this market in North America. The Asia-Pacific region is expected to witness the fastest growth due to support of international organizations (e.g. Biotechnology Industry Organization and others) for the growth of synthetic biology in Asia-Pacific.

In terms of key players, the global synthetic biologymarket is highly fragmented with presence of a large number of players that includeBristol Mayer, Gevo, Inc., Life Technologies, DSM, DuPont, Inc., Genomatica, Inc., LS9, Inc.,Amyris, Inc. and others.

Demand for medical education is primarily driven by the growing preference for online education

The global market for medical education has a handful of players such as Apollo Hospitals, TACT Academy for Clinical Training, Zimmer Biomet Holdings, Inc. (Zimmer Institute), Olympus Corporation, Gundersen Health System, GE Healthcare, and Medical Training College. Transparency Market Research identifies Apollo Hospitals as the leading contributor to the growth of the overall market owing to its extensive course portfolio, strong market penetration in countries in Asia Pacific, and vast scope for practical hospital experience.

“Geographical expansion in several developing countries has been Apollo Hospitals’ leading growth strategy, in addition to the acquisition of smaller local players,” finds the lead author of the TMR study.

In July 2016, Apollo Hospitals Group signed MoUs with Kenyatta National Hospital and Airtel Kenya to not just focus on capacity building in the Kenyan healthcare sector but to also conduct educational lectures and training programs in the country. In the same month, the company signed an agreement with Hainan Ecological Smart City Group in China to develop a highly integrated modern healthcare service facility in the Hainan province, which is likely to lend nursing, medical, and paramedical colleges in the island city tremendous support.

Advantages of Online Training over Traditional Modes of Education a Driving Factor

The demand for medical education is primarily driven by the growing preference for online education. “Online education is a highly lucrative investment avenue,” a TMR analyst observes. “The exposure to modern technologies around the world and the increasing penetration of the internet has greatly fueled the preference of students for online education.” Moreover, online training presents several advantages over traditional modes of education, including variation in training and educational programs, lower cost, comfortable and flexible learning programs, and opportunities for improved technical skills.

In line with this growing trend, TMR predicts that the emergence of e-learning markets in several developing countries will be a major opportunity for players in the medical education market.

High Tuition Fee a Major Roadblock

The cost of higher education, especially in developed countries, continues to pose a key challenge for low-income students. “Medical education is one of the most expensive fields and the tuition fee for classroom courses as well as on-campus training is extremely high. This acts as a major barrier for the medical education market,” the author of the study says.

In addition to this, the declining preference for distance education in medicine and paramedical training is likely to restrict the growth of the medical education market to an extent.

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Steady Growth in Store for Medical Education Market

Expanding at a 4.3% CAGR over the course of the forecast period, the global medical education market is poised to rise from a value of US$25.9 bn in 2015 to US$38.4 bn by 2024. By mode of education, the medical education market is led by on-campus training. Changing student preferences will restrict the demand for distance training by 2024, TMR predicts. However, online training is fast emerging as a lucrative mode of medical education and this segment is likely to register the highest CAGR of 7.29% from 2016 to 2024.

By type of training, the demand for cardiothoracic training has surpassed the rest, while training in radiology presents the highest scope for growth. By geography, North America led the overall medical education market with Asia Pacific as the most rapidly expanding regional segment through the forecast period.

This review is based on the findings of a TMR report titled “Medical Education Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”