Local Anesthesia Drugs Market Regional Estimates & Trend Analysis

 The Global Local Anesthesia Drugs Market is predicted to reach USD 6.45 billion by 2025 owing to the increasing number of surgeries across the world. Anesthesia is a medical procedure that reduces or prevents the pain during surgery or other painful medical processes. It encourages the loss of awareness or sensation to the patient, which in a way help the surgeons to carry the entire surgery. An anesthesia is a drug that prevents pain during a medical operation. The anesthesia type used for any surgery is determined by different factors like length and type of the surgery, patient health and preference of the surgeon doctor and patient. The local anesthesia drugs market is expected to grow at a CAGR of 3.7% in the years to come.

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The three types of anesthesia drugs are local anesthesia, general anesthesia and regional anesthesia. Long anesthesia is injected in the tissue to numb the particular body location for minor operation. In general anesthesia, the patient is completely unconscious and feels no sense in the body and regional anesthesia comprises an injection near the cluster of nerves to make the body part numb, where the patient may or may not be conscious). The popular drugs in local anesthetics is chemically differentiated as Ester linked Local Anesthetics like Procaine, Cocaine, Tetracaine, Chloroprocaine, benzocaine, etc. and Amide linked Local anesthetics such as Bupivacaine, Lidocaine, prilocaine, dibucaine, ropivacaine, etc.

The growing number of surgeries across the world along with cosmetic surgeries, plastic surgeries and dental surgeries are the driving factors for the rise of local anesthetics. A substantial increase is observed in the rising number of surgeries that require post-operative pain relief and is predicted to grow continuously in the forecast period. At present, the growing number of medical surgeries require solution against post-operative pain, which is again expected to boost the Local Anesthesia Drugs Market. The emergence of modern and effective drugs like articaine, levobupivacaine and ropivacaine are also contributing majorly in the market growth in different regions of the world. The increasing healthcare expenditure in the emerging economies like China, India and Brazil is projected to give a rise in the surgeries performed, which stimulates the market growth.

The general anesthetic drugs comes with different side-effects like vomiting, dry mouth, nausea, shivering, aches in muscles, sore throat, itching, mild hoarseness, disorientation and sleepiness. Some severe complications comprise cognitive dysfunction, malignant hyperthermia and delirium. A patient might also experience psychological changes such as blood pressure disparities, which should be seriously to be taken care of by the physician. If such patient’s condition is taken lightly by the anesthesian, he might face potential risks. The regulatory issues that are imposed by the government are also restricting the growth of market.

The Local Anastasia Drug Market is categorized on the basis of product type that include Local Anesthesia, General Anesthesia and Regional Anesthesia. On the basis of drugs type, the market is categorized into General Anesthesia, Local Anesthesia, etc. On the basis of Route of administration, the market is categorized into intravenous, inhalation, etc. Geographically, the Market is largely dominated by North America which is also believed to be the prominent market for the product. Europe stands next to North America with growing market. Conversely, Asia-Pacific market is also said to grow significantly in the coming years while, the rest regions remain to grow steadily.

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Some of the finest players in the Local Anastasia Drug Industry can be named as Astrazeneca PLC, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Hikma Pharmaceuticals PLC, Baxter International Inc., Hospira, Inc., AbbVie Inc., Fresenius Se & Co. Kgaa.

Market Segment:

Local Anesthesia Drugs Product Outlook (Revenue, USD Million, 2014 - 2025)
• Bupivacaine
• Ropivacaine
• Lidocaine
• Chloroprocaine
• Prilocaine
• Benzocaine
• Other local anesthetics

Local Anesthesia Drugs Application Outlook (Revenue, USD Million, 2014 - 2025)
• Injectable
• Surface Anesthetic

Local Anesthesia Drugs Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• Japan
• Latin America
• Brazil
• Mexico
• MEA
• South Africa

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Breast Pump Market Driver, Analysis, Variables, Trends & Scope Report

 Global Breast Pump Market size is expected to reach USD 1.74 billion by 2025. Breast pump is generally used by working women to continue breastfeeding their babies while still at work. Also, breast pump is used by those mothers to stimulate lactation in case of low milk supply and when the baby is unable to suck milk due to some physical condition. Lactating mothers are becoming increasingly aware about the importance & benefits of breastfeeding. The breast pump market is expected to register a CAGR of 7.8% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

The increasing employment rate and favorable demographics are the main factors driving the market growth in the years to come. Additionally, governments’ initiatives such as the BFSI (Baby Friendly Hospital Initiative) are expected to drive the industry growth in the next couple of years. In the market, various types of breast pumps are available such as manual, electric breast pumps, and battery-powered. Electric breast pumps are identified as the most lucrative segment in the market and expected to hold the largest market share during the forecast period due to their greater efficiency in terms of comfort and user-friendliness.

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Applications such as personal use and hospital grade could be explored in breast pump industry. The “hospital grade” devices are expected to hold the highest market share in the years to come due to the presence of large number of hospitals and increasing global birth rate. Electric breast pumps for “personal use” are expected to grow at a high CAGR in the upcoming period due to growing number of working mothers and rising healthcare expenditure.

The factors that play an important role in the growth of breast pump market include increasing demand, growing population, increasing urbanization & industrialization, growing working women, changing lifestyle, increasing patient disposable income, rising awareness about the breast pump, technological advancements such as introduction of hands-free breast pumps, favorable change in reimbursement policies, rising birth rates in emerging countries, and growing healthcare industry. Moreover, increasing healthcare expenditure and improving healthcare infrastructure in developing economies are anticipated to boost the market growth in the upcoming period. However, high cost of breast pumps along with low awareness, risk & side effects related to breast pumps are negatively impacting the growth of breast pump industry.

The market is widely analyzed based on different regional factors such as gross domestic product (GDP), demographics, acceptance, inflation rate and others. The market is categorized based on product, technology, application and geography. The market is classified into product such as closed system and open system. The “closed system” segment dominated the overall market share in terms of revenue in 2016 due to their higher prices and increasing usage rates. This segment is expected to hold the large market share in the next couple of years because it offers a more hygienic milk collection mechanism.

North America has been at the forefront with regards to breast pump market and will continue to rule the roost in the years to come. The growing working mothers, increasing awareness about breastfeeding, changing lifestyle, favorable reimbursement policies and increasing population are major factor driving the growth of market in this region. On the other hand, Asia Pacific is expected to grow at the higher CAGR in the next couple of years owing to the increasing healthcare expenditure, rapid economic development, growing awareness levels and rapidly increasing working women.

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The key players contributing to the robust development of the breast pump industry include Medela Inc., Philips Avent, Bailey Medical Engineering, Ameda Breastfeeding Solutions, Chicco, Hygeia Medical Group, MAM, Evenflo Feeding, Pigeon Corporation, Mayborn, Whittlestone, Spectra Baby, Albert Manufacturing USA, Linco Baby Merchandise Works Co., Whittlestone Inc. and Lansinoh Laboratories. These market players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

Market Segment:

Breast Pumps Product Outlook (Revenue, USD Million, 2012 - 2025)
• Closed system
• Open system

Breast Pumps Technology Outlook (Revenue, USD Million, 2012 - 2025)
• Manual
• Battery powered
• Electric

Breast Pumps Application (Electric Pump) Outlook (Revenue, USD Million, 2012 - 2025)
• Personal use
• Hospital grade

Breast Pumps Regional Outlook (Revenue, USD Million, 2012 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Mexico
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia

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Medical Oxygen Concentrators Market Research Scope & Assumptions

 Global medical oxygen concentrator market is expected to witness a high growth on account of its increasing incidences of asthma and respiratory diseases. Medical oxygen concentrator is designed for the supply of enriched oxygen gas from a gas supply. These products were invented in the early 1970’s and have revolutionized medical treatments of chronic and acute patients. These devices use pressure swing absorption technology used to separate some gas species from a mixture of gasses. Health care applications of this concentrator are the major factor driving the overall market demand. These devices are useful in providing oxygen supply to critical patients suffering from respiratory disorders. As per the Centers for Disease control and Prevention, in 2013, around 22 million people suffered from asthma in the U.S. This device usage in the treatment of asthma patients is expected to drive the market over the forecast period.

Home medical therapy is another factor that drives the market demand is expected to propel the growth in near future. Recent trends have shown that there has been a significant growth household medical therapy. Rising incidences of respiratory and cardio vascular diseases coupled with the aging population drive the usage of oxygen concentrators at patients home. This has given rise to portable concentrators which allow patients to carry their movements. Increasing application in commercial aircrafts has been driving the market demand in recent years. In 2014, The Federal aviation administration, the U.S approved around 20 models and brands of portable oxygen concentrators which can be used during air travel emergency.

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Medical applications in the defense sector are anticipated to provide bright prospects for the overall industry growth. Portable oxygen concentrator devices are used by the military during disasters and relief activities for the treatment of victims especially at high altitudes or places where the oxygen concentration is low. It is even used in military aircraft at high altitudes to supply the aircrew with oxygen. Portable oxygen concentrators provide huge opportunities for the overall market growth. These devices are compact in size and low in cost. These devices can be easily fitted inside a passenger vehicle using a vehicle DC adapter. The competition in the field of portable oxygen concentrators is expected to propel the innovation and reduction in product price.

Market segmentation is done on the basis of end use which includes its usage in hospitals, homecare, aircrafts and military. Application in hospitals accounts for maximum segment share especially in North America owing to improved medical facilities. North America has been the leading market in recent years in terms of demand and is expected to continue its dominance owing to developed health care sector and increasing government initiatives for sophisticated medical devices.

Further, regional demand is followed by Asia Pacific mainly on account of increasing incidences of asthma and respiratory diseases incidences. Emerging economies including India and Malaysia is expected to provide bright opportunities on account of increasing privatization in healthcare. Europe is expected to show a steady growth over the forecast period owing to government initiatives. Central and South America is anticipated to witness a substantial growth mainly due to medical tourism in countries including Mexico, Brazil, Cuba and Ecuador. Africa is expected to witness a slow growth owing to developing healthcare sector.

Major players operating in the market are GE healthcare, Philips, and Siemens. Other market players include Smiths medical, Tejjin limited, Airsep Corporation, Invacare corporation. OSI systems, Inova labs, Vygon, Oxlife and O2concepts.

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Market Segmentation

Global Medical Oxygen Concentrators Product Outlook (Revenue, USD Million, 2012 - 2022)
• Portable oxygen concentrators
• Fixed oxygen concentrators

Global Medical Oxygen Concentrators Application Outlook (Revenue, USD Million, 2012 - 2022)
• Home care
• Non home care

Global Medical Oxygen Concentrators Technology Outlook (Revenue, USD Million, 2012 - 2022)
• Continuous flow
• Pulse dose

Medical Oxygen Concentrators Regional Outlook (Revenue, USD Million, 2012 - 2022)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• Japan
• MEA
• South Africa
• Latin America
• Brazil

Atherectomy Devices Market Is Anticipated To Reach USD 894.69 Million By 2025

 The global atherectomy devices market size was valued at USD 488.04 million in 2016 and is anticipated to reach USD 894.69 million by 2025, with CAGR of 6.97% over the forecast period. Increase in prevalence of Peripheral artery disease (PAD) and Deep vein thrombosis (DVT) is expected to drive the market growth over the forecast period. Increase in aging population in the US and in economically developed countries resulting in high requirement of medical devices for chronic illness. This is expected to escalate the market growth of Atherectomy devices. Major factors such as rising life expectancy declining fertility rates play a major role in market growth in the foreseeable future.

Change in lifestyle trends and eating habits increase Consumption of cholesterol and fatty foods among individuals and lack of exercise which has been a major reason for coronary artery disease and high risk of heart attacks. Depending on the severity of the health issue atherectomy devices are used in the surgery by the doctors. Diabetes, high blood pressure, obesity and smoking causes the blood arteries to marrow and limit the blood supply to the heart. It is estimated that 382 billion people throughout the world have diabetes. Environmental factors such as foods, viruses, toxins and unbalanced work life play a role in development of diabetes. Growing number of patients with these vascular diseases are expected to proliferate the demand for atherectomy devices.

Adopting advanced technology by using laser, ultraviolet radiation and recombinant issue technology and 3D image generation provides a better scope for the market. Added benefits such as minimal incisions, higher surgical restoration rate, low postoperative complications increase more patients opting for atherectomy devices. New technological advancements and the recent FDA approval of Two drug coated balloons are increasing atherectomy procedural volume and driving growth in the demand for atherectomy devices.

Recalls of medical devices has been a major issue in pharmaceutical industry. Every device should maintain the standard quality and safety measures set by the Food and Drug Administration (FDA). All the manufacturing firms should ensure that the products are safe and do not endanger the end consumer.

Athrectomy devices face a tough competition from Catheter (Tornus) which has been developed for chronic total occlusion recanalization. However, Catheter has a lower success rate of only 77% as compared to the traditional atherectomy devices with 95%. Tornus catheter is also associated with longer procedural duration time with 144 minutes versus the atherectomy devices 115 minutes.

Lack of product differentiation forms a major challenge in the atherectomy market. Most companies trying to enter the market find it hard to overcome the product differentiation because they require high investment and lack resources to create products that can compete with the existing ones. High cost and limited awareness in certain regions of the world act as a restraint for the market growth.

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Atherectomy technique is a popular substitute for stents and angioplasty treatments. In stents and angioplasty, the deposited plaque is pushed inside the blood vessel, however in atherectomy the plaque is removed by using surgical methods. The technique has advantages over the other methods by providing increased wound healing rate

The market has been classified on the basis of its device functions such as rotational, orbital, excimer laser, excisional, directional and Jetstream atherectomy. The largest share of the market is occupied by orbital and directional atherectomy due to minimal invasive treatment, blood flow restoration, reduction in procedure time and application in more complex cases. Market players are coming with better techniques and products to meet the requirement of the consumers.

The market is segmented on the basis of geography such as North America, Europe, Asia pacific. North America is the leading player in the market followed by Europe. Peripheral artery disease affects nearly 10 million people and around 720,000 die every year due to heart attack in US making it the potential market for the devices. Higher number of surgeries are being performed in US and Europe due to better awareness among people and also availability of resources making them the leading regions in the market.

Asia pacific can be a potential market for atherectomy devices since countries such as India and china possess the largest number of cardiac patients with an annual incidence of 7 million strokes. Tobacco consumption is rapidly increasing in south Asian countries in conjunction with economic expansion increasing their risk of artery diseases.

Reduction of abdominal obesity through lifestyle measures can improve all components of the metabolic syndrome and likely delay the development of both diabetes and atherosclerosis. Beyond lifestyle intervention, optimal management of risk factors to evidence-based targets is essential.

High awareness of health problems caused due to change in lifestyle and optimal management of risk factors can improve the metabolic syndrome and likely reduce the development of both diabetes and atherosclerosis and hence reducing the demand for the atherectomy devices.

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The major companies of the market include Bayer AG, Cardiovascular systems, St. Jude medical, Boston scientific corporation, Abbott laboratories, C.R Bard Inc., Volcano Corporation. The competition in this market usually depends on the technology used in manufacturing of the devices and also the pricing strategies. Medtronic’s is leading competitor in peripheral atherectomy devices. Medtronic acquired Covedian in 2015 and is expected to remain in the leading position however it will face increasing competition from cardiovascular systems Inc.

Market Segmentation

Atherectomy Devices Type Outlook (Market Revenue in USD Million, 2014 - 2025)
• Directional atherectomy devices
• Rotational atherectomy devices
• Orbital atherectomy devices
• Laser atherectomy devices

Atherectomy Devices Regional Outlook (Market Revenue in USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• Asia Pacific
• China
• Japan
• Latin America
• Brazil
• Middle East and Africa
• South Africa

Surgical Instrument Tracking Systems Market Is Anticipated To Rise At Over 19.0% In Future

 Industry Insights

Global surgical instrument tracking systems market was valued at over USD 83.5 million in 2015 and is anticipated to rise at over 19.0% during the forecast period. The major factors, which contribute to the growth of this market are growing incidence of hospital acquired infections and instrument misplacement. In the U.S., nearly 90,000 people die every year due to hospital-acquired infections, based on a data by CDC. In order to prevent these infections arising out of instrument contamination, instrument tracking system is highly useful. It is also used for inventory management to enhance the efficiency of the staff.

Rising prevalence of retained surgical equipment cases is another factor which is expected to contribute to the demand for surgical instrument tracking systems in the coming years. The fatality rate of retained surgical instruments accounted for nearly 2%, according to a study by the National Center for Biotechnology Information. Technological advancements in the field of surgical instrument tracking systems, such as RFID, 2D bar codes further boost the growth of this market.

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Product Insights

Based on the product, the market is classified into services, hardware and software. Software held the largest market share in 2016 and is projected to witness lucrative growth over the forecast period. Advancements in the field of software technology, such as tracking surgical instruments and inventory management support the growth of this segment. For instance, IMPRESS, designed by BD helps delivering information on sterilized surgical equipment. This further facilitates inventory management and delivers ongoing assistance through phone.

The hardware segment is expected to showcase significant growth over the forecast period. This is due to the high demand for RFID labels and barcode tags. For instance, Dot XXS - Autoclavable Version of Xerafy is especially designed for tagging surgical instruments. It is one of the smallest RFID metal tag and withstands repeated autoclave and chemical washes.

Technology Insights

Barcode technology held the largest market share in 2016. It is the most common technology used for tracking systems and is widely used by medical device industry, thus, contributing to the growth of this segmental revenue. Moreover, the low installation cost associated with these barcodes also has led to increasing use by ambulatory surgery centers and hospitals.

The RFID segment is expected to witness lucrative CAGR over the forecast period owing to the rapid technological advancements in the field of RFID, such as huge data storage capacity, high durability, no requirement of line-of-sight and reusability.

End-Use Insights

In 2016, hospitals held the largest market share owing to the retention of surgical instruments at the site of surgery. In order to improve patient safety by tracking the instruments and managing the inventory, hospitals increasingly use surgical instrument tracking systems. This contributed to the growth of the segment.

Hospitals are also anticipated to show highest growth over the forecast period. Rapid technological advancements in the hardware and software is expected to support the growth of this segment.

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Regional Insights

In 2016, North America held the largest market share. The U.S. Food and Drug Administration launched an innovative device, which can detect and identify medical devices. This factor contributed to this largest revenue growth. In addition, availability of highly developed medical infrastructure, huge penetration of advanced technology and rising healthcare expenditure further accelerates the growth of this regional segment. According to CMS, total healthcare spending in the U.S. was USD 3.2 trillion in 2015, which depicted high healthcare expenditure in this country.

Asia pacific is projected to witness attractive growth over the forecast period owing to the untapped market of this region. Moreover, rapid investments in healthcare infrastructure along with increasing geriatric population also contributed to the high growth of this segment.

Competitive Insights

Some of the major companies of this market are Xerafy; Haldor Advanced Technologies Ltd.; Materials Management Microsystems, Inc; Censis Technologies Inc.; Becton, Dickinson and Company and B. Braun Melsungen AG.

In order to fulfil the unmet needs of the target population, the major companies are undertaking regional expansion, development of new products and mergers & acquisitions. For instance, in October 2015, Xerafy launched world’s smallest RFID tag named XXS Tags.

Market Segment:

Product Outlook (Revenue, USD Million; 2014 - 2025)
• Hardware
• Software
• Services

Technology Outlook (Revenue, USD Million; 2014 - 2025)
• Barcodes
• RFID

End-Use Outlook (Revenue, USD Million; 2014 - 2025)
• Hospitals
• Others

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Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Latin America
• Brazil
• Mexico
• MEA
• South Africa

Medical Image Analysis Software Market Is Estimated To Reach USD 4.51 Billion By 2024

 Market size and trends

The global Medical Image Analysis Software Market size is estimated to reach USD 4.51 billion by 2024 and is anticipated to grow with a CAGR of 8.1% throughout the forecast period. High growth of the market is majorly attributed to the increase in usage and uptake of imaging software for the diagnosis purpose. This technology is widely used for the diagnosis in the field of orthopedic, dental, neurology, oncology, urology and others.

In addition, shifting in focus to provide enhance care has led to the incorporation of various computer aided diagnosis systems, which is further contributing towards market growth. Continuous increasing in the prevalence of chronic disorders such as neurological diseases, cardiovascular diseases and cancer require medical imaging systems to provide effective and fast diagnosis. This fact will further push the market demand of medical imaging software, leading to drive the market growth.

Introduction of technologically advanced products such as 3D imaging, multimodality imaging platforms is also presumed to augment the market over the coming years. Furthermore, various benefits including flexibility and high-resolution imaging, along with convenient use of multi modal integrated workflows are expected to bolster the demand and increase product penetration throughout the forecast period.

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Modality Insights

The largest share of around 30.0% was held by radiographic imaging in the modality segment owing to wide scale availability and cost-effectiveness, which are presumed to be key drivers for the market. The fastest growing segment is anticipated to be ultrasound imaging because of its accuracy and ability for rapid analysis. In addition, the radiation-induced side effects are minimized by use of these techniques, which is considered to be the potential factor for the segment growth.

Software Type Insights

Integrated software held the largest share of more than 55.0%. Dominance can be attributed to high adoption of the software due to its benefits including, cost effectiveness and centralized data storage. Moreover, multiple users can process and view the data with the use of integrated software which provides live viewing features.

The aforementioned factors are presumed to drive the preference of physicians and healthcare providers towards use of this integrated software. Also, lucrative growth rate is expected to be witnessed by stand-alone software with a CAGR of 7.5% throughout the forecast period due to its user friendly interface.

Application Insights

The major application of medical image analysis with a substantial market share was seen in the orthopedic segment in 2015. According to a report by CDC, over 52.5 million people in the U.S. were diagnosed with orthopedic related disorders in the period of 2010-12, which is expected to increase the utilization of medical image software in near future. Moreover, increasing geriatric population base and frequent product approvals for use of medical imaging systems in orthopedic is projected to boost the market growth.

End-user Insights

The largest share of around 32.0% was held by hospitals in end user segment. Supportive infrastructure, which helps in performing surgical intervention with medical imaging software. Moreover, favorable reimbursement by Medicare and Medicaid are increasing surgery volumes, where these devices form an important part of the procedures and contribute to market share.

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Regional Insights

The largest share of over 33.0% in terms of revenue was held by North America in 2015. Presence of key market players, favorable initiatives by government, and high R&D investments are anticipated to be major drivers for the regional dominance. Asia Pacific region is to be considered as the highest growing region with CAGR of 9.7% throughout the forecast period. Growing in this region is majorly supported by the favorable government policies for incorporation of medical imaging software and devices to achieve accurate diagnostic results. Furthermore, increasing expenditure on healthcare in developing economies including India and China supports the growth of this region during the future period.

Competitive Market Share Insights

Some prominent market players are, Xinapse Systems Lts., Bruker Corporation, ClaroNAv Inc., Esaote Inc., Merge Healthcare Inc., MIM Software Inc., Aquilab GmbH, Spacelabs Healthcare Inc., Agfa-Gevaert Corporation, Toshiba Medical Systems Corporation, Siemens Healthineers, Carestream Health Inc., Philips Healthcare, and GE Healthcare.

The industry shows a high competitive rivalry owing to various strategic initiatives such as technological innovation inputs, acquisitions and merger, collaborations, and product launches. For instance, NEO new oncology AG was acquired by Siemens Healthineers in May 2016 to enhance their R&D capabilities product portfolio for treatment of cancer.

Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, the global medical image analysis software market has been segmented on the basis of software type, modality, application and end user and region:

Market Segments

Global medical image analysis software, software type outlook (Revenue, USD Million, 2013 - 2024)
• Integrated Software
• Stand-alone Software

Global medical image analysis software modality outlook (Revenue, USD Million, 2013 - 2024)
• Tomography
• CT (Computed Tomography)
• MRI (Magnetic Resonance Imaging)
• PET (Positron Emission Tomography)
• SPET (Single-Photon Emission Tomography)
• Ultrasound Imaging
• Radiographic Imaging
• Combined Modalities

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Global medical image analysis software application outlook (Revenue, USD Million, 2013 - 2024)
• Orthopedic
• Dental
• Neurology
• Cardiology
• Oncology
• Obstetrics & Gynecology
• Mammography
• Urology & Nephrology

Global medical image analysis software end-use outlook (Revenue, USD Million, 2013 - 2024)
• Hospitals
• Diagnostic Centers
• Research Centers

Medical image analysis software regional outlook (Revenue, USD Million, 2013 - 2024)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• Asia Pacific
• Japan
• China
• India
• Latin America
• Mexico
• Brazil
• MEA
• South Africa

Next Generation Cancer Diagnostics Market Trends and Forecast Report to 2024

 Industry Insights

Global next generation cancer diagnostics market size was worth USD 4,964.05 million in 2016 which is anticipated to grow at a CAGR of more than 9.7% over the forecast period. Rise in mortality rate due to the increasing occurrence of the cancer, second most predominant disease accounting for approximately 8.8 million deaths in 2015 is anticipated to escalate the market for these tests.

Advancements in tests enable early diagnosis and assist efficient detection of different types of tumors which in turn is expected to promote growth over the projected period. The introduction of new products by large bodies, merger, and acquisitions, and joint agreements such as the development of RNA-Seq Kit version by Agilent Technologies Inc. and Agendia Inc. are the factors accountable for the estimated CAGR.

An escalation in the development of companion diagnostics in order to deliver advanced and personalized genomic medicine is also responsible for progress in the coming years.

Furthermore, the technological advancements driving the innovation in point-of-care testing devices is anticipated to aid in commercialization of advanced products thereby supporting revenue generation.

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Technology Insights

Incorporation of technological advancements such as melting curve examination for identification of mutations, qPCR tools for profiling of tumor in clinical test centers, and gene deletions are accountable for the largest share apprehended by multiplexing and qPCR segment.

With the development of next-generation sequencing technology, the use of traditional methods such as protein and DNA microarrays is expected to decrease through the years. Other factors such as data interpretation tools, growth of supportive library preparation procedures, and technological advancements are accountable for the lucrative adoption of next generation oncology tests among researchers.

Cancer Type Insights

Major categorization for the types of cancer includes cervical, breast, lung, colorectal, and other tumor forms. The other types constitute leukemia, prostate, bladder, brain, skin, uterine, esophageal, Non-Hodgkin lymphoma, ovarian, liver, and thyroid.

In 2015, as per World Health Organization lung cancer was accountable for approximately 1.7 million deaths. Moreover, breast cancer incidence is also estimated to grow thereby escalating the demand for screening and diagnostic technologies.

Application Insights

Growth in the number of research schemes to develop novel products and services which enable primary detection of tumor-causing mutations is expected to affect the advancement in genetic analysis over the forecast period. Biomarker tests offer greater sensitivity in screening and also demonstrate 90% accuracy levels in investigational studies which is attributive to induce progress in the coming years.

Function Insights

Risk analysis, prognostic based diagnosis, tumor screening, therapeutic monitoring, & theranostics are the different functions of next generation oncology diagnostic tests.

The prognostic diagnostics segment is anticipated to witness the fastest growth in the coming years as a consequence of higher adoption of prognosis which plays important role in designing oncology therapies and protocols for chemotherapy, radiation-based treatment, and gene therapy.

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Regional Insights

The next generation cancer diagnostics market is dominated by North America with approximately 40% market share. Favorable government initiatives such as launch of “80% by 2018” program for detection of colon cancer is anticipated to propel progress in the coming years.

In this program, almost 170 groups including medical professional societies, health departments, government health departments, and cancer coalitions are functioning to accomplish the mutual goal of attaining 80% screening for oncology diseases by 2018 and are working forward to eliminate the oncology disorders.

Asia Pacific is anticipated to be the fastest developing region. Factors such as economic augmentation, higher investments, and greater untapped market are accountable for the fastest growth of resign in diagnosis sector.

Competitive Insights

Major entities functioning in the market include Novartis AG, Myriad Genetics Inc., Illumina Inc., Almac Group, Sysmex Corporation, F. Hoffmann-La Roche Ltd, Agilent Technologies, Genomic Health, Almac Group, Koninklijke Philips N.V, and Cepheid.

Market players by offering clinical analysis amenities are implementing geographic expansion strategies. Furthermore, reimbursement coverage plays an important factor to increase the patient convenience to the precision drug. For example, in October 2015, U.S., Medicare started the reimbursement procedure for a prostate tumor type known as Oncotype DX.

Market Segment:

Technology Outlook (Revenue, USD Million, 2013 - 2024)
• Next Generation Sequencing
• qPCR & Multiplexing
• Lab-on- a- chip (LOAC) & Reverse Transcriptase-PCR (RT-PCR)
• Protein Microarrays
• DNA Microarrays

Application Outlook (Revenue, USD Million, 2013 - 2024)
• Biomarker Development
• CTC Analysis
• Proteomic Analysis
• Epigenetic Analysis
• Genetic Analysis

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Cancer Type Outlook (Revenue, USD Million, 2013 - 2024)
• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Cervical Cancer
• Others

Function Outlook (Revenue, USD Million, 2013 - 2024)
• Therapeutic Monitoring
• Companion Diagnostics
• Prognostics
• Cancer Screening
• Risk Analysis

Regional Outlook (Revenue, USD Million, 2013 - 2024)
• North America
• U.S
• Canada
• Europe
• Germany
• France
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Middle East & Africa
• South Africa