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Circulating Tumor Cells (CTCs) Prognostic Technologies Market is estimated to reach US$2.16 bn by 2020

Transparency Market Research has recently announced the publication of a new market research report. The research report, titled “Circulating Tumor Cells (CTCs) Prognostic Technologies Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” provides a comprehensive analysis of the global circulating tumor cells (CTCs) prognostic technologies market. A market overview, product segmentation, market drivers, restraints, market trends, and competitive landscape of the overall market have been analyzed in this research report. According to the research report, the global CTCs prognostic technologies market is estimated to reach US$2.16 bn, exhibiting 26.30% CAGR between 2014 and 2020.

As per the research report, rising prevalence of cancer globally, along with substantial developments in therapeutic monitoring, is expected to propel the global CTCs prognostic technologies market. On the flip side, the high cost associated with CTCs diagnostics, lack of awareness about CTCs prognostic technologies and reluctance for the adoption of these technologies are some of the factors that are expected to hamper the growth of this market in the forecast period.

By technology, the two major segments of the global market for CTCs prognostic technologies include tumor cell detection and tumor cell enrichment. The tumor cell detection segment is further sub-segmented into optical methods and molecular methods. Among these segments, the optical methods segment is projected to exhibit 27.30% CAGR from 2014 to 2020. On the other hand, the tumor cell enrichment segment is divided into immunological and immunomagnetic methods, filtration, and centrifugation. In these sub-segments, immunomagnetic methods accounted for the largest share in the overall tumor cell enrichment segment.

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By application, the global market for CTCs prognostic technologies has been classified into colorectal cancer, breast cancer, prostate cancer, and others (such as ovarian cancer, lung cancer, and pancreatic cancer). Among these, the prostate cancer segment is estimated to exhibit 25.20% CAGR; whereas, the breast cancer segment is expected to register 27.10% CAGR between 2014 and 2020.

Geographically, the global market for CTCs prognostic technologies has been segmented into Europe, North America, Asia Pacific, and Rest of the World. Among all these regions, North America dominated the overall CTCs prognostic technologies market. The high growth of this region can be attributed to the rising prevalence rate of cancer and increasing adoption of advanced prognostic technologies. On the other hand, Asia Pacific is also expected to register steady growth in the forecast period owing to the estimated rise in different types of cancers along with several research and development initiatives taken by the governments and major players.

Furthermore, the research report evaluates the competitive landscape of the global CTCs prognostic technologies market on the basis of several parameters such as company profile, inception details, financial overview, business strategies, SWOT analysis, mergers and acquisitions, and recent developments. Some of the prominent players operating in the market are Advanced Cell Diagnostics, AdnaGen, Rarecells USA, AVIVA Biosciences Corp., Celula, Veridex, Vitatex, Fluxion Biosciences, Silicon Biosystems, and Epic Sciences.

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Platelet-rich Plasma Market to expand at a CAGR of 12.0% from 2018 to 2026

Transparency Market Research (TMR) has published a new report titled, “Platelet-rich Plasma Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global platelet-rich plasma market was valued at US$ 195.2 Mn in 2017 and is projected to expand at a CAGR of 12.0% from 2018 to 2026. Technological advancements, regulatory approvals for new devices, and increase in awareness about platelet-rich plasma therapies are anticipated to drive the global market in the next few years. North America and Europe are projected to dominate the global platelet-rich plasma market during the forecast period, primarily due to the high prevalence of orthopedic disorders, rise in incidence rates of rheumatology, increase in the number of sport injuries, and surge in adoption of platelet-rich plasma therapy. The platelet-rich plasma market in Asia Pacific is expected to expand at a significant CAGR from 2018 to 2026. This is attributed to surge in investment in health care infrastructure, economy growth, large population base with orthopedic and rheumatology disorders in emerging countries such as China, India, South Korea, and Malaysia, and rise in per capita health care expenditure in the region.

Increase in the number of orthopedic patients globally is considered a major factor fueling the growth of the global PRP market. PRP treatment reduces injury healing time in orthopedic diseases from four to six months to three to five weeks with surgery. Such sharp reduction in the healing period is likely to propel the PRP market during the forecast period. According to the Arthritis Foundation, approximately 54 million adults and around 300,000 children had doctor-diagnosed arthritis in the U.S. in 2017. This number is projected to reach 67 million by 2030. According to the International Osteoporosis Foundation, globally, 1 in 3 women aged 50 years and above is likely to suffer from osteoporotic fracture. The ratio is 1 in 5 for men. Hence, high prevalence of orthopedic diseases and increase in preference for PRP therapy contribute to the growth of the global PRP market.

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The report offers a detailed segmentation of the global platelet-rich plasma market based on type. Pure platelet-rich plasma, also called leukocyte-poor platelet-rich plasma, is blood plasma that contains only platelets and trace amount of leukocytes. Major advantages of pure PRP include ease of application to injuries and ligaments, conventional method of PRP production, rich concentration of platelets, and limited contamination with RBCs. Pure PRP accounted for the dominant share of the global PRP market in 2017 due to its widespread use in various applications and rich content of platelets. The segment is likely to continue to dominate the market during the forecast period from 2018 to 2026.

In terms of origin, the global platelet-rich plasma market has been segmented into autologous PRP, allogeneic PRP, and homologous PRP. The autologous PRP segment is likely to account for significant share of the market by 2026. Autologous blood is a patient’s own blood, and hence diseases and infections related to blood transfusion are almost negligible. Therefore, cost of blood tests and analysis is reduced on the use of autologous origin of PRP preparation. Demand for autologous PRP products is expected to increase due to elimination of cost of clinical analysis for blood-borne diseases and the fees to be paid to blood donors. The allogeneic PRP segment is projected to expand at the highest CAGR during the forecast period. The segment is poised to gain market share by the end of 2026. High number of growth factors in allogeneic PRP compared to autologous PRP is expected to drive the segment during the forecast period.

In terms of application, the global platelet-rich plasma market has been segmented into orthopedic surgery, neurosurgery, cosmetic surgery, general surgery, and others. The orthopedic surgery segment dominated the global market in 2017 and the trend is likely to continue during the forecast period. Prevalence of osteoarthritis, rheumatoid arthritis, fibromyalgia, juvenile arthritis, and other forms of orthopedic disorders is increasing primarily due to the aging population, obesity, and changes in lifestyle. According to the Centers for Disease Control and Prevention, nearly half of the population aged 65 and above reported doctor diagnosed arthritis during 2013–2015. This percentage was as low as 7.1% in the population aged between 18 and 44. The cosmetic surgery segment is expected to grow at a rapid pace owing to multiple applications of PRP in cosmetic surgeries and cost-effectiveness.

The platelet-rich plasma market in Asia Pacific is projected to expand at a significant CAGR of 13.7% during the forecast period. Large number of patients with various rheumatology disorders, rise in number of sport injury cases, presence of emerging economies such as China and India, large geriatric population in Japan, and increase in awareness about the advantages and applications of PRP in various therapeutic areas present significant opportunities for global players in these countries. North America is anticipated to dominate the global platelet-rich plasma market owing to high prevalence of orthopedic and rheumatology disorders, increased adoption of PRP therapy in treatment of various disorders, and significant rise in number of plastic and cosmetic surgical procedures in the region.

The global platelet-rich plasma market is highly consolidated, with few global players accounting for major share. Harvest Technologies Corp. (Terumo Corporation), Arthrex, Inc., and Zimmer Biomet Holdings, Inc. are the key players that dominated the global PRP market in 2017. Efficient PRP products and wide distribution networks are the key strategies adopted by these market players. Most of the small scale and R&D companies strive to establish strategic partnerships and distribution agreements with leading distributors and or related companies for the commercialization of their products in the global market. Other prominent market players include EmCyte Corporation, Regen Lab SA, Exactech, Inc., and Cesca Therapeutics, Inc., Nuo Therapeutics, Inc., DePuy Synthes (Johnson & Johnson), ISTO Biologics, and AdiStem Ltd.

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Human Microbiome Market to reach a value of US$ 1,888.9 Mn by 2026

Transparency Market Research (TMR) has published a new report titled, “Human Microbiome Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global human microbiome diagnostic market to worth US$ 1888.9 Mn by 2026. It is projected to expand at a CAGR of 9.8% from 2018 to 2026. Microbiome is the genetic component of the entire range of microorganisms, including bacteria, fungi, protozoa, and viruses which live inside and on the human body. The beneficial bacteria present in the microbiome assist the digestion of food, regulation of the immune system, and protection against other disease-causing bacteria. This ability is being harnessed by start-ups and companies in the microbiome-based therapeutics market to create drugs aimed at treating conditions which have been shown to have a link with imbalance in the microbiome. In this report, the human microbiome market has been analyzed by studying it as two individual markets, the microbiome-based diagnostics market and the microbiome-based therapeutics market. The forecast period for human microbiome diagnostics market is 2018 to 2026 while that for human microbiome therapeutics is 2020 to 2026.

Advances in metagenomics and next-generation sequencing have made microbiome-based testing easier and cheaper, paving the way to carry out rapid analysis of the genomic content of microorganisms from human sample. This has bolstered the development process for microbiome-based diagnostics. Gastrointestinal and metabolic disorders are likely to capture the leading share of the diagnostics market in 2018 owing to rise in interest of companies toward developing an easy analysis platform for gut health-based disorders, such as irritable bowel syndrome and Crohn’s disease. Although cancer is likely to capture a minor share of the market in 2018, much lower than gut health and metabolic disorders, it is a niche operating area for the company involved in developing a diagnostic test for detecting cancer. For instance, Metabiomics is developing molecular diagnostics for detecting markers of colorectal cancer. Existing tests for colorectal cancer rely on invasive colonoscopies; and thus, the non-invasive test developed by Metabiomics (which uses a stool sample to evaluate patient’s gut microbiome) will be a unique opportunity for the company to excel in a market having huge unmet needs.

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Women’s health has been an ignored area, traditionally, in terms of launch of novel diagnostics and therapeutics. However, awareness regarding health and hygiene is rising among women and so is the need for products catering to their needs. For instance, in October 2016, Becton, Dickinson and Company received U.S. Food and Drug Administration (FDA) market authorization for a first-of-its-kind molecular test to detect the common causes for vaginitis. The test uses a microbiome-based algorithm for bacterial vaginosis detection. Such tests are anticipated to fuel the growth of the women’s health segment in microbiome diagnostics. In terms of technology, both metagenomic sequencing and 16s rRNA sequencing are projected to capture an equal share of the diagnostics market owing to a host of benefits associated with these techniques. The suitability of metagenomic sequencing to characterize organisms other than just bacteria is likely to make it a preferred technique for those aiming at developing tests which profile a comprehensive range of diseases.

Presently, there is no approved microbiome-based therapy for treatment of diseases. Overall, the anticipated launch of new drugs for gut health indications (presently in phase I/II/III) in this market during the forecast period is likely to boost the growth of the segment, and thus, contribute to the overall growth of the global therapeutics market. In the microbiome-therapeutics market, start-ups with novel candidates have begun to raise expectations on the promise of this kind of therapy. Seres Therapeutics was a prominent player to emerge as a strong contender in the market, however, phase II setback for SER-109 in 2016 made drug developers cautious with their own studies. However, Seres quickly found out that its SER-109 phase 2 study failure was caused due to misdiagnosis of certain patients and suboptimal dosing in others. Seres had started a new, redesigned clinical trial for SER-109. Thus, the zeal of scientists and clinical experts toward finding a pertinent solution to diseases with unmet medical needs using the novel approach of repopulating the affected area with the beneficial microbiota is expected to propel the market in the future.

In terms of revenue, North America is likely to continue to dominate the global human microbiome market during the forecast period, owing to early adoption of technologies and large number of ongoing clinical trials. The region is projected to be a highly attractive market for gastrointestinal disorder, with a significant attractiveness index. According to the CDC, it has been estimated that in the U.S., Clostridium difficile infection (CDI) is one of the top three critical and urgent antibiotic-resistant bacterial threats. Around 820,000 patients in the U.S. experience a first occurrence of CDI every year; and recurrent CDI has been estimated to affect up to 110,000 patients every year. Unfortunately, the only treatment available for CDI presently is antibiotics, which can only worsen the problem on subsequent infections. The success of Fecal Microbiota Transplantation in clinical trials is a starting point for many companies to venture into the microbiome-based therapeutics domain. Moreover, start-ups in the microbiome market have been spin-offs of prestigious universities in the U.S. This is likely to boost the market for microbiome-based therapies in North America.

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Compression Therapy Market to expand into a revenue of US$4.25 bn by 2024

In a recent report by Transparency Market Research (TMR), the global compression therapy market is expanding by merely using sustained pressure in order to overcome blood flow problems in areas like ankles, joints and other veins. The health care industry in market is experiencing a shift off biochemical medication and onto compression therapies or yoga, due to the trending demand for organic ingredients in the food industry. Consumers are now inclined towards therapies offering sufficient relief without causing any side effects.

The compression therapy market is fragmented as the players are unevenly dispersed all over the world. Thus, there is no significant player in the market. Established players however face challenges from new players who enter the market frequently. The market is looking forward to collaborate with healthcare units and hospitals to ensure that there is regular supply of demand. Some of the key players in the market are BSN Medical, Bio Compression Systems, Inc., 3M Health Care, Covidien plc, medi GmbH & Co KG, and ArjoHuntleigh.

As per TMR reports, the global compression therapy market is estimated to expand into a revenue of US$4.25 bn by 2024. With a moderate CAGR of 5.30%, the market is predicted to grow over the forecast period of 2016 to 2024. Geographically, North America is predicted to rush ahead of other regional segments due to the importance of healthcare facilities in the region. According to 2015 reports, the market revenue generated by North America valued at US$1.27 bn.

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People are facing a lot of health related issues due to trending lifestyle and food habits. Senior citizens especially are seen to be suffering from various age related problems especially cardiac and orthopedic disorders. The compression therapy proves to be helpful to a large extent to such problems and provides relief without any side effects. Other than that people with orthopedic problems like sports injury or obesity and other dysfunctions seems to be more inclined towards remedies that offers no medication but just efficient care. This shift of preference towards compression therapies have played a major role in providing advantage to the market.

Traditional methods of curing injuries have been overpowered by the compression therapy methods. Rise in instances of obesity across the world have added to the advantage of the compression therapy market since the demand for swift and effective treatment is more in case of musculoskeletal injuries. The popularity of various strenuous activities other than sports have increased the number of dysfunctions and injuries. Sports enthusiasts and trainers are advised to adopt compression therapies in case of such musculoskeletal injuries. To pay attention to this need, core specialization methods for compression therapies have started to develop by the healthcare industry.

Several under developed countries on the other hand, are facing poor reimbursement policies and due to lack of information and awareness, the prosperity of the compression therapy market is limited or reduced altogether. Despite that, improvement in healthcare infrastructure in developing economies in Asia Pacific are presumed to open enormous opportunities in the years to come.

Since the natural expansion for a market player is difficult, market players are coming up with mergers as key business strategy. As more and more people are indulging in outdoor activities the chances of injuries like muscle pull or strain are becoming more common. This is leading to the rise of quick remedy without having to take medicines, thus adding to the advantage of compression therapy market.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Breast Pumps Market to register a CAGR of 8.9% from 2017 and 2025

The vendor landscape of the global breast pumps market is of oligopolistic nature and features the dominance of a handful of players, according to a recent market research report by Transparency Market Research. Owing to the intense competition, leading manufacturers and companies aspiring for a larger share in the market are building partnerships with healthcare providers in the industry, especially in developed countries, so as to promote their brands. Businesses are also increasingly focusing on product improvement and innovation for ensuring high level of comfort, efficient milk expression, and ease of handling. Some of the top vendors in the global breast pumps market are Koninklijke Philips N.V., Medela, Pigeon Corporation, Ameda Breastfeeding, Ardo Medical Ag, Albert Manufacturing USA, Hygeia Health, Evenflo Feeding, Inc., and Spectra Baby USA.

According to the report, the global breast pumps market is likely to register a CAGR of 8.9% from 2017 and 2025, rising from US$1,971.8 mn in 2016 to a revenue opportunity of US$4,164.6 mn by 2025.

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Of the various types of breast pumps studied in the report, the segment of double electric breast pumps is dominated in 2016, accounting for over 41% of the overall market, thanks to the economic nature and efficient pumping capacity of the pumps. The segment is also expected to record growth at the highest pace over the report’s forecast period. Geographically, the market in North America is likely to continue to retain its dominant stance over the forecast period. Emerging economies in Asia Pacific are also expected to provide promising growth avenues to the market owing to the rising population of women in workforces.

Some of the key actors expected to positively drive the global breast pumps market are improved awareness regarding the importance of breastmilk for the proper development of infants, rising global population, rising disposable incomes, and the vast rise in the population of affluent middle class in emerging economies. The rising rate of breastfeeding across the globe has also emerged as a very important trend that has led to the increased acceptance of breast pumps on a global level. As per the data published by the Centers of Disease Control and Prevention, there has been a massive rise in breastfeeding rate in the U.S. and Canada in the past few years and the trend continues to remain strong.

Additionally, favorable reimbursement scenario and easy availability of technologically advanced devices in developed countries are further propelling the global breast pump market. Moreover, the easy availability of a variety of new product types, increased focus of manufacturers on continuous product modifications to ensure high comfort level, ease of handling and efficient milk expression, and rising awareness regarding the available products in the market are also expected to drive the market in the next few years. However, high prices of breast pumps and the risk of contamination will hold back the global breast pumps market to certain extent.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Ultrasound Devices Market to expand at a CAGR of 6.2% from 2018 to 2026

Transparency Market Research (TMR) has published a new report titled, “Ultrasound Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global ultrasound devices market was valued at US$ 6.5 Bn in 2017. It is projected to expand at a CAGR of 5.6% from 2018 to 2026. Surge in incidence of various disorders such as cardiovascular diseases, respiratory, and abdominal disorders cases is anticipated to boost the demand for ultrasound devices during the forecast period. North America and Europe are projected to dominate the global ultrasound devices market owing to higher rate of adoption and awareness regarding ultrasound devices. Asia Pacific, Latin America, and Middle East & Africa are potential markets for ultrasound devices. The market in Asia Pacific is expected to expand at a CAGR of 6.2% from 2018 to 2026.

Increase in number of cases of various disorders, across the globe, drives the ultrasound devices market. According to the WHO, cardiovascular diseases accounted for an estimated 17.7 million deaths in 2015, representing 31% of all global deaths. Among these, an estimated 7.4 million were due to coronary heart disease, and 6.7 million were due to stroke. This is likely to increase the number of diagnostic procedures; consequently, propelling the global ultrasound devices market.

Compact/handheld ultrasound devices is an emerging segment of the ultrasound devices market. The compact/handheld ultrasound devices segment is likely to expand at a significant CAGR. Moreover, the trolley/cart-based ultrasound devices segment is likely to hold a major share due to technologically advanced product adopted by diagnostic centers. Moreover, increased adoption of portable ultrasound devices for point-of-care applications, it cannot outpace the trolley/cart based ultrasound devices, as they offer more accurate diagnostic capabilities and high performance.

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In terms of application, the global ultrasound devices market has been segmented into various applications. Radiology/general imaging is projected to be a highly attractive segment during the forecast period. Rising sophistication in diagnostic imaging platform, which enables emerging countries to provide 24X7 diagnostic services to its clients is likely to propel this segment during the forecast period.

In terms of end-user, the global ultrasound devices market has been segregated into hospital & surgical centers, diagnostic centers, ambulatory surgical centers, and others. The diagnostic centers segment held a major share of the global market in 2017. Expansion of the segment can be attributed to the availability of multiple service options and devices and tie-ups with health care companies in order to enhance health care products and service offerings. Moreover, diagnostic centers are the preferred choice due to availability of advanced technology and better health care services. The hospital & surgical centers segment is expanding at a high growth rate, especially in developed economies, due to rise in geriatric population and increasing health care infrastructure and support. Moreover, rise in demand for ultrasound devices in ambulatory surgical centers during medical emergency is projected to drive the segment.

In terms of region, the global ultrasound devices market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe dominated the global ultrasound devices market in 2017. In terms of revenue, the market in Europe was valued at US$ 2.1 Bn in 2017, owing to a highly developed health care sector, increase in awareness among health care providers about ultrasound devices, and continuous evolution of ultrasound devices. This region offers significant opportunity to the ultrasound devices market. The ultrasound devices market in Asia Pacific is anticipated to expand at a CAGR of 6.2% during the forecast period, due to increase in awareness about ultrasound devices for diagnostic and therapeutic. Moreover, expansion of the health care sector in countries such as China, Japan, and India offers immense potential in this region. Additionally, technological advancements and increase in rate of adoption of ultrasound devices products are expected to propel the market in the region during the forecast period.

The global ultrasound devices market is highly fragmented in terms of number of players providing different products. Key players in the global ultrasound devices market include GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Hitachi, Ltd., Siemens Healthineers, Mindray Medical International Limited, Samsung Medison Co., Ltd., Fujifilm Holdings Corporation, Esaote SpA, and Analogic Corporation. Expansion of product portfolio through mergers and acquisitions is a key strategy followed by several global players.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Medical Device Technologies Market to earn US$563.8 bn by the end of 2025

According to a recent report compiled by Transparency Market Research (TMR), the competitive landscape of the global medical device technologies market is estimated to show remarkable growth owing to the technological advancements in the health and medical sector. The technological advancements used in medical gadgets has ensured a notable development in terms of treating illness and diagnosing them.

Some of the major players of the global medical device technologies market are Baxter International Inc., Boston Scientific Corporation, Johnson & Johnson, Medtronic plc, and Smith & Nephew plc. The market is mostly dominated by companies manufacturing in vitro diagnostic devices as they hold the maximum revenue share of the market. Nevertheless, small players are leaving no stone unturned in order to secure their place in the market worldwide.

As per the TMR report, the global medical device technologies market is anticipated to earn US$563.8 bn by the end of 2025. The market is estimated to expand with a CAGR of 4.6% within the forecast period of 2017 to 2025. Based on end user, academics and hospitals and research segment is seen to be leading the market share. From a geographical perspective, the market is seen to be dominated by North America followed by Europe.

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The market for medical device technologies is mainly dominated by the regions of North America, Middle East and Africa, Asia Pacific, Europe and Latin America. Among these, the market in North America is seen to be holding the lion’s share owing to the increase in the number of patients of both metabolic as well as chronic diseases like cancer, and cardiovascular diseases. These kind of diseases demand both critical therapeutic treatment and diagnosis along with extra care of the patient. The presence of numerous manufacturers in the region is also drawing more revenue generation of the North American region. Apart from that, automated medical processes demand is also expected to fuel the medical device technologies market in the years to come.

Medical sector technologies have also brought out to be sustainable, productive as well as efficient in terms of healthcare facilities. It is also accompanied by smart gadgets like ultrasound systems, and constant glucose monitoring system along with other medical devices. At present, many clinics and hospitals are focusing more on installation of automated processes and implementing them in order to lower the possibility of errors as it is concerned with the patient’s wellbeing. This is further adding to draw more revenue share into the overall market, hence boosting the market growth. Other factors anticipated to boost the demand for medical device technologies in the market are quick and steady data analysis along with workflow automation.

Although the medical device technologies market is seeing rapid growth, factors like the increasing incidence of non-license technology for integrating biomedical devices may act as a hindrance to the overall growth of the market in the future years to come. However, the introduction of hi-tech devices bringing positive results have offered lucrative opportunities for the future growth of the market in the long run.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Forensic Technologies Market to attain value of US$80.7 bn by the end of 2025

Transparency Market Research (TMR) observes the global forensic technologies market has highly competitive vendor landscape. Thanks to number of players operating in the global forensic technologies market, the players are experiencing intense competition. However, the market is dominated by the handful of the companies. Some of the prominent players operating in the market are SCIEX (Danaher Corporation), NMS Labs, Eurofins Medigenomix GmbH, and Forensic Pathway. These players are adopting the strategies such as mergers, acquisitions, and partnerships for improving the global presence and product portfolio.

A report from TMR estimates, the global forensic technologies market valued at US$39.6 bn in 2016, and is projected to attain value of US$80.7 bn by the end of 2025. The market is expected to expand with a CAGR of 8.3% over the forecast period from 2017 to 2025. Based on services, the chemical analysis segment dominated the market and is expected to continue its dominance over the forecast period. Based on location, the laboratory forensics segment accounted for the leading share in the global market for forensic technologies. Based on region, the market in North America dominated the global market and is projected to remain dominant by attaining value of US$39.3 bn by the end of 2025.

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Growing global crime rate is creating need for the better and advanced forensic technologies across the industries such as banking, medicine, and telecommunications. Additionally, growing advancement in the forensic technologies is experiencing high adoption of these technologies, which is propelling growth of the global forensic technologies market. Additionally, growing focus and research activities in the DNA sequencing area coupled with automated fingerprint identification and facial reconstruction is fuelling adoption of forensic technologies market.

Growing investment by government and numerous supportive reimbursement policies is supporting growth of the market. In addition, widening applications of forensic technologies across numerous end use industries is boosting growth of the market.

Despite these growth prospects, the high costs of technology coupled with requirement of highly skilled operator is limiting growth of the global forensic technologies market. Additionally, emerging economies are not willing to adopt new technologies due to its high cost and high investment, which is again posing as a challenge to the growth of the forensic technologies market. Moreover, the administrative limitations in wide-ranging industries are creating obstacles for the growth of the forensic technologies market. Nonetheless, growing cases that require support from advanced forensic technology is creating lucrative opportunities for growth in the upcoming years.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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