Interventional Radiology Market: Business Challenges, Emerging Technologies & Competitive Landscape

Global Interventional Radiology Market: Scope and Methodology

This report on the global interventional radiology market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.

The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2014 to 2024, considering the macro and micro environmental factors. Growth rates for each segment within the global interventional radiology market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.

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A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global Interventional Radiology market.

Market revenue in terms of US$ Mn for the period between 2014 and 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all the segments, considering 2015 as the base year. Market size estimations involved in-depth study of services and product features of different types of services. Additionally, market related factors such as increasing preference for technologically advanced services, product innovation, and increasing prevalence of cancer and other chronic diseases in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.

Interventional Radiology Market: Segmentation

Based on product type, the global interventional radiology market has been segmented into x-ray, computed tomography, magnetic resonance imaging, and ultrasound. The market has been further studied from the point of view of major application. Based on application, the market has been categorized into angiography, balloon angioplasty, embolization, biopsy, vertebroplasty-Kyphoplasty, RF ablation and others. On the basis of end user, the market has been segmented hospitals, catheterization labs, ambulatory surgical centers and others.

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Interventional Radiology Market: Geographical and Competitive Dynamics

Geographically, the global interventional radiology market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region. These include the U.S., Canada, the U.K., Germany, France, Italy, Spain, China, Japan, India, Saudi Arabia, UAE, Brazil, and Mexico.

The report also profiles major players in the Interventional Radiology market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Agfa-Gevaert N.V., Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Corporation, Hologic, Inc., Medtronic plc., Philips Healthcare, Siemens Healthineers, Teleflex Incorporated, and Toshiba Medical Systems Corporation.

Demand for Anti-snoring Devices and Snoring Surgery Market will be Proportional to the Increase in Snoring Cases Diagnosed Worldwide

The leading companies operating in the anti-snoring devices and snoring surgery market have been focusing on product innovation and miniaturization of sleep apnea devices. This is a novel trend swaying the global anti-snoring devices and snoring surgery market. Integrated by the nanotechnology, this trend could be a major determinant for the market’s growth. Currently, the market is exhibiting a strong focus on innovation, as per a new study by Transparency Market Research. Efforts by new and existing players have resulted in the development of an impressive pipeline of products that are expected to help find better cure for people suffering from sleep apnea.

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Q: What strategies are the leading market players adopting to gain stronghold?

A: The global anti-snoring devices and snoring surgery market is marked by the presence of an increasing number of companies which has rendered its vendor landscape highly competitive and fragmented. TMR finds that enterprises such as Medtronic plc, Philips Healthcare, GE Healthcare, Fisher & Paykel Healthcare, and ResMed, Inc are not only leading market participant but also hold significant share in the global market with their robust geographic reach and extensive product portfolio.

Of these, Medtronic has managed emerging dominant in the overall market following a slew of recent acquisitions. Medtronic along with Phillips Healthcare and GE healthcare are the top players in the market, contributing a whopping 93.69% of the overall revenue generated by the market. In order to accelerate their pace of gains, a majority of the leading companies operating in the anti-snoring devices and snoring surgery market are investing in research and development activities.

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Besides this they are also focusing on product innovation to strengthen their position in the market. For instance, an Australian company has recently launched a 3D printed anti-snoring device that can be customized based on an individual’s need. The medical device company is called Oventus Medical and is based in Melbourne, Australia. It is set to manufacture a device they named O2Vent. It is a lightweight titanium devices and can help patients stop snoring by delivering air to the back of his or her mouth. Such innovations hold great promise of the company success in the market

Q: Which region will offer most lucrative opportunities to the market?

A: North America and Europe together dominated the global anti-soring devices and snoring surgery market in 2015. While these are mature markets, the opportunities existing in Asia Pacific is also expected to prove quite lucrative for companies manufacturing anti-snoring devices. Because the region is characterized by presence of unmet medical needs and high patient pool it is expected to attract several of the small or medium scale companies and new entrants looking to establish their footprint in the market. In addition favorable government initiatives to spread awareness about sleep apnea and its possible treatments will also support the market’s strong growth in Asia Pacific.

Cardiovascular Monitoring and Diagnostic Devices Market Responds to Impressive Progress in Medicine and Healthcare

Being the leading cause of death and witnessing a high rise in prevalence, the class of ailments that come under the purview of cardiovascular diseases is witnessing increased focus from healthcare, research, and government bodies alike. A large number of companies are venturing into the market with an innovative range of products for diagnosing and treating a variety of cardiovascular diseases. Research and development activities are being granted increasingly more funds and governments bodies are implementing various health schemes aimed at reducing the prevalence and improving awareness about cardiovascular diseases.

Transparency Market Research states that the global cardiovascular monitoring and diagnostic devices market held an opportunity of US$1.8 bn in 2015. The market is expected to expand at a 6.4% CAGR over the period between 2016 and 2024, and rise to a valuation of US$3.1 bn by 2024.

Electrocardiogram (ECG) Systems Lead on Account of Cost Effectiveness and High Efficiency

The product segment of ECG systems presently holds the largest share in the global cardiovascular monitoring and diagnostic devices market. The widespread presence and high preference for ECG systems in developed and developing regions alike are key to the segment’s leading market position. ECG systems are expected to remain the key contributor to the market’s overall revenues over 206 and 2024 as well, expanding at a 6.3% CAGR in the global market.

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However, the segment of implantable loop recorders is expected to witness the fastest expansion, a 7.1% CAGR from 2016 to 2024. The segment is projected to benefit from the rising awareness about the use of these devices in diagnosing syncope. As several cases of the disease remain undiagnosed when other conventional diagnostic methods are used, implantable loop recorders are gaining an increased level of adoption across medical diagnostic centers globally. The valuation of the segment is expected to reach US$152.7 mn by 2024.

The segment of Holter monitors also holds immense growth promise owing to the rising prevalence of conditions such as arrhythmia and conduction block. The segment was valued at US$416.1 mn in 2015 and is expected to expand at a high single-digit CAGR from 2016 to 2024.

North America to Continue Taking Largest Share of Pie but Emerging Economies Hold More Promise

North America accounted for the largest share of the overall revenues of the global cardiovascular monitoring and diagnostic devices market in 2015. The region is expected to remain the largest market over the period between 2016 and 2024 as well. Factors such as favorable reimbursement policies, high awareness about available diagnosis and treatment methods among patients and physicians, favorable reimbursement policies, and efficient healthcare infrastructure are factors that will help North America remain at the forefront of the global market. Europe, the second largest contributor to the global cardiovascular monitoring and diagnostic devices market in 2015, will also remain a lucrative owing to large scale healthcare infrastructure development activities and rising prevalence of cardiovascular disease.

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However, developing regions such as Latin America and Asia Pacific will present the most promising growth opportunities for the global cardiovascular monitoring and diagnostic devices market over the period between 2016 and 2024. The presence of vast untapped growth prospects, rising healthcare expenditure, and increasing awareness about the efficiency of available techniques and devices in effectively curing several cardiovascular conditions will remain key to the overall growth of the market.

Several research studies also state that the risk of cardiovascular diseases is substantially high in mid- and low-income economies. This substantiates the fact that a large variety of cardiovascular monitoring and diagnostic devices will be consumed in Asia Pacific and Latin America in the next few years. The market for these devices will expand at a 7.5% in Asia Pacific and a 7.3% CAGR in Latin America over the period between 2016 and 2024.

In the highly dynamic global market for cardiovascular monitoring and diagnostic devices market, the top two vendors, GE Healthcare and Philips Healthcare accounted for a more than 55% of the global market in 2015. Other key vendors in the market are Spacelabs Healthcare, St. Jude Medical, Inc., and Siemens Healthcare.

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.

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.

Safety Syringes Market : Recent Industry Trends and Projected Industry Size by 2013 – 2019

The competitive landscape of the global safety syringes market is highly consolidated with the presence of a few key players, observes Transparency Market Research (TMR). These are Becton, Dickinson & Company, Smiths Medical, Retractable Technologies Inc., Revolutions Medical Corporation, Covidien plc, Terumo Corporation, and Unilife Corporation.

“Acquisitions and alliances are the focus of key players in the market to supplement internal growth with the objective to boost revenue growth”, says the lead author of the study. A case in point is, in December 2012, Becton, Dickinson & Company acquired Safety Syringes Inc. This led the former to strengthen its market position while also expanding its product portfolio.

An increasing number of investments in high-impact areas is another key growth strategy adopted by key players in the global safety syringes market. Companies are strategizing to invest heavily in sales and marketing at the global level. Top players in this market are also focused on research and development to develop newer safety syringes and needle devices with automated retraction.

Government Mandates for Safety Mechanism of Syringes Favor Market Growth

“The increasing number of needlestick injuries is the major factor driving the global safety syringes market”, says lead analyst of the study. According to the World Health Report 2002 analyzed by the World Health Organization, of the 35 million healthcare workers worldwide, almost 2 million undergo percutaneous exposure to infections every year. An increasing number of blood borne diseases such as hepatitis C, diphtheria, herpes, tuberculosis, hepatitis B, typhus, and malaria.

The continuous growth in the injectable drugs market is another major factor driving this market. This is because injectable drugs market is likely to display demand for drug delivery devices for drug administration that has been designed keeping up with safety requisites. Governmental legislations that require manufacturers to develop syringes equipped with safety mechanisms is also driving the global safety syringes market.

Price Factor Leads to Limited Use in Developing Nations

“The high cost associated with safety syringes is one of the major factors holding back the growth of the safety syringes market,” says the author of the study. According to the International Council of Nurses (ICN), a retractable safety syringe costs more than two times than a normal syringe. This factor is more prominent in developing nations such as China, India, and Brazil where healthcare providers tend to avoid spending money on safety syringes. Healthcare providers in these regions believe that needlestick injuries can be prevented by training healthcare workers to use normal syringes safely.

The growth of the safety syringes market is also impeded due to the rising popularity of non-invasive drug delivery techniques and continued development in alternate drug delivery technology that may be used in place of injectable drug delivery.

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The global safety syringes market will be valued at US$6.5 bn by 2019.

Non-retractable safety syringes account for the larger share of the market on the basis of product. In 2012, non-retractable safety syringes held the larger share of the market both in terms of volume and value.

North America is the largest market for safety syringes. In 2012, North America dominated the global market for safety syringes due to an early adoption of advanced equipment and advanced technology for rendering healthcare services.

The information presented in this review is based on the report, “Safety Syringes Market - Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast, 2013 - 2019.”

Global Cord Blood Banking Services Market Hampered by Blood Shortage and Restrictive Usage; Market to Reach US$15.23 bn by 2019

Stem cells are capable of producing all the three types of blood cells produced in human body i.e. red blood cells, platelets and white blood cells. Researchers have discovered that stem cells can be used for the treatment of 80 different diseases including thalassemia, sickle cell anemia, leukemia diabetes and cardiac diseases. The major sources for stem cell banking are storing of peripheral blood and bone marrow, umbilical cord blood (UCB) is by far considered as the largest component for hematopoietic stem cells. Donated cord blood has become one of the most reliable sources for stem cells over the last decade and is thus considered as a valuable biological resource. The chances of cord blood sample matching with the patients that is closely in relation to the baby whose sample is to be used are 39% more than the sample obtained from the public banks. Cord blood banking services is a promising and a fast growing segment in the field of next generation stem cell therapy and national cord blood registries are changing perception and look of the industry.

Cord blood can be stored in either of the two ways, banking in private cord blood banks or donating in public cord blood banks. Private cord blood banks collect and store cord blood for the use of baby and close family members only. Collection and storage of the cord blood is charged to the parents of the baby. And secondly the cord blood can be donated to a public bank where the cord blood unit is stored and is publically available for the suitable match. All the charges of storage and maintenance of the cord blood unit obtained from public bank are taken from the patient or patient’s family for whom the unit is going to utilize in transplantation process. Though globally the number of private cord blood banks are more as compared to public banks, number of units stored in public banks are more than units of cord blood banks stored in private banks globally.

The amount of stem cells required for the transplantation process vary depending on person’s weight and age. The major disadvantage of cord blood storing in private cord blood bank is that the single unit of the cord blood contains insufficient amount of stem cells and becomes difficult to treat adults using stem cell transplant. On the other hand, cord blood units stored in public banks is available to any patient matching with the blood unit sample stored in public banks globally. And hence multiple units can be utilized for single patient to meet the requirement of the stem cells in transplantation procedure.

Taking inability of the privately stored cord blood units to meet the requirement of the amount of stem cell into consideration healthcare professionals are focusing on enhancing cord blood inventory in public banks so that demand for the cord blood units can be matched. Gynecologists, pediatricians and obstetricians recommend to store cord blood in private banks only if the family has history of the disease that can be treated using stem cells.

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Geographically North America is dominating the global cord blood banking services market followed by Europe. Governments taking initiative to regulate the cord blood banking industry in the country and implementation of hybrid model to reduce the attrition between private cord blood banking and public cord blood banks is driving the growth of cord blood banking services market. Asia-Pacific is lucrative market owing to increased cord blood banking in countries like China and India. Contribution of Asian countries in banking cord blood is expected to increase further as medical tourism industry is booming in this region. Growing awareness about cord blood banking and treatments that can cure blood borne diseases using stem cells in cord blood is increasing. Countries like France, Italy and UAE have banned private banking of the cord blood. Governments of these countries are actively participating in establishing nationwide public banks to enhance the inventory of the cord blood units.