Sternal Closure Systems Market Development | Industry Report 2023

According to the new market research report Sternal Closure Systems Market is estimated to be valued at USD 2.02 billion in 2018 and is projected to reach USD 2.61 billion by 2023, at a CAGR of 5.2%. The increased target patient population coupled with the subsequent increase in the number of surgical procedures, growing availability of medical reimbursements across major markets, and technological advancements in sternotomy techniques are expected to drive the demand for sternal closure systems during the study period.

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In the last decade, the sternal closure systems market has witnessed several mergers and acquisitions. For instance, Vance Street Capital LLC and A&E Medical Corporation (US) acquired Medical Concepts (Netherlands), with the aim to increase their product portfolio of single-use medical products in 2016. In this report, the market has been segmented by product, procedure, material, and region.

On the basis of product, the market is segmented into closure devices and bone cement. Closure devices accounted for the largest share of the sternal closure systems market in 2017. The large share of this segment can be attributed to the ongoing technological advancements in closure devices, increasing number of complex cardiovascular surgeries, and growing availability of medical reimbursements across the developed markets.

Based on procedure, the market is segmented into median sternotomy, hemisternotomy, and bilateral thoracosternotomy. The median sternotomy segment is expected to be the fastest-growing segment of the market during the forecast period. Median sternotomy is a widely used surgical procedure for accessing the body cavity via sternal bone during cardiothoracic, spinal, and pulmonary surgeries. Rising number of critical patients suffering from cardiovascular diseases, significant availability of reimbursement for critical cardiac surgeries across developed markets, and rising awareness among surgeons about the clinical benefits offered by technologically advanced sternal closure products during target cardiovascular surgeries are expected to drive the growth of the median sternotomy segment during the forecast period.

By material, the sternal closure systems market for medical devices is segmented into stainless steel, PEEK, and titanium. The titanium material segment is expected to grow at the highest CAGR in the sternal closure systems market. Increased market focus on titanium products due to the associated advantages and economies-of-scale, growing number of clinical research studies to evaluate the clinical efficacy of these products during sternal closure, and increased commercialization of titanium-based sternal closure systems across developed countries (especially in the US) are some the factors driving the growth of this segment.

Based on region, the sternal closure systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is projected to be the fastest-growing regional segment in the sternal closure systems market during the forecast period. Rapid growth in the healthcare expenditure in emerging APAC countries (such as China and India), growing adoption of advanced sternum closure techniques among cardiothoracic surgeons, large patient population for target diseases, the rapidly growing geriatric and obese population (especially in Japan, India, and China), increasingly localized device manufacturing as well as strengthening of distribution networks of prominent manufacturers, and growing trend of medical tourism across APAC countries are expected to drive the growth of the sternal closure systems market in APAC during the forecast period.

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In addition, emerging markets such as China, India, Brazil, and Mexico are expected to offer significant growth opportunities for market players owing to the rising focus of local governments to improve healthcare infrastructure of countries and presence of a large patient pool.

RSV Diagnostics Market Development | Industry Report 2022

According to the new market research report RSV Diagnostics Market is expected to reach USD 929.2 Million by 2022 from USD 574.3 Million in 2017, at a CAGR of 10.1%. RSV diagnostics is done to diagnose lower respiratory tract infections (LRTIs) in children caused by respiratory syncytial virus (RSV) which is the leading cause of infant hospital admissions in developed countries. Factors driving the growth of this market include the rising burden of RSV infections, growing demand for PoC molecular diagnostic tests for the diagnosis of RSV infections, and increasing approval of RSV diagnostic kits and assays.

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The RSV diagnostics market is consolidated in nature due to the presence of a large number of players. The key players in the market are bioMerieux (France), Becton Dickinson (US), Abbott (US), Roche (Switzerland), Danaher (US), Thermo Fisher (US), Luminex (US), BioCartis (Belgium), Hologic (US), and Fast Track Diagnostics (Luxembourg).

Most companies in the RSV diagnostics market adopted agreements, expansions, and product launches as the key business growth strategy. These strategies accounted for the largest share of the overall growth strategies mapped from 2014 to 2017. Some of the leading players who adopted these strategies include bioMerieux (France), Abbott (US), Roche (Switzerland). bioMérieux is a world leader in in vitro diagnostics, molecular diagnostics, and microbiology automation. The company operates through two major business divisions, namely, clinical diagnostics and industrial microbiology.

• On the basis of products, the RSV diagnosis market is categorized into kits and assays, instruments, and other products. The kits and assays segment is expected to register the highest growth during the forecast period. Growth in this market is mainly due to the increasing approval of RSV diagnostic kits and assays.
• Based on method, the market is segmented into molecular diagnostics, rapid antigen detection tests, and other methods. The molecular diagnostics segment is estimated to register the highest growth during the forecast period. Growth in this segment can be attributed to the growing demand for molecular diagnostic tests for the diagnosis of RSV infections.
• Based on end user, the market is segmented into hospitals & clinics and home care. The hospitals and clinics segment is estimated to grow at the highest rate during the forecast period. The increasing demand for RSV diagnostic testing in hospitals and clinics is driving the growth of this segment.

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North America is estimated to command the largest share of the market during the forecast period.

Based on region, the RSV diagnostics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is estimated to dominate the RSV diagnostics market in 2017. This is mainly due to factors such as the increasing patient base of RSV diseases, technological advancements in PoC molecular diagnostic devices, and growing healthcare expenditures.

Veterinary Endoscopy Market Development | Industry Report 2023

According to research report the Veterinary Endoscopy Market is expected to reach USD 219.0 million by 2023 from USD 159.8 million in 2018, at a CAGR of 6.5%. Some of the factors driving the growth of this market include increasing use of endoscopes in the diagnosis of animal gastrointestinal diseases, growing population of companion animals and advanced applications of veterinary endoscopy procedures. Increasing pet insurance and growing animal health expenditure; and rising number of veterinary practitioners are some other factors supporting the growth of the market.

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Based on product type, the market is categorized into flexible endoscopes, rigid endoscopes and other endoscopes. The flexible endoscopes segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can primarily be attributed to the wider applications of flexible endoscopes compared to rigid endoscopes.

By procedure, the market is categorized into flexible endoscopy, rigid endoscopy, and other procedures. The flexible endoscopy segment is expected to grow at the highest rate during the forecast period. Increasing number of flexible endoscopy procedures is the key factor contributing to the high growth rate of this segment.
By animal type, the market is categorized into companion animals, large animals, and other animals. The companion animals’ segment is expected to grow at the fastest rate during the forecast period. The rising pet healthcare expenditure and the growing companion animal population are the key factors driving the growth of this segment.

Based on end users, the veterinary endoscopy market is classified into hospitals and academic institutes and clinics. The hospitals and academic institutes segment is estimated to grow at the fastest rate during the forecast period. Increasing number of endoscopy procedures which are performed in veterinary hospitals is driving the growth of this segment.

Based on region, the veterinary endoscopy market is segmented into North America, Europe, Asia Pacific and the Rest of the World (RoW). The veterinary endoscopy market in the Asia Pacific region is expected to register the highest CAGR during the forecast period. Growth in this region can be attributed to the rising pet ownership, increasing animal health expenditure, and rapid development in the animal healthcare infrastructure in the developing countries such as India and China.

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Given the immense opportunities in major applications of veterinary endoscopy, market leaders and emerging players are increasingly focusing on the market in the segments mentioned above to increase their revenues and are also looking to expand their reach to emerging economies.

Surgical Drains Market Top Players and Growth Strategies | Global Forecast 2022

According to research report the surgical drains market is expected to reach USD 2.18 Billion by 2022 from USD 1.82 Billion in 2017, growing at a CAGR of 3.7%. The growth of this market is mainly driven by the growing geriatric population, increasing number of surgical procedures, and rising awareness programs globally.

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Expansions accounted for the largest share of the overall growth strategies followed by key players between 2014 and 2017. Some of the companies that adopted this strategy include Medtronic (Ireland), B. Braun (Germany), Cardinal Health (US), Stryker (US), and Cook Medical (US).

The surgical drains market is highly competitive with several big and small players. Prominent players in this market include B. Braun (Germany), Cardinal Health (US), ConvaTec (UK), C.R. Bard (US), Redax (Italy), Ethicon (US), Stryker (US), Romsons (India), Medtronic (Ireland), Medline Industries (US), Cook Medical (US), Poly Medicure (India), Zimmer Biomet (Indiana), Global Medikit (India), Degania Silicone (Israel), Aspen Surgical (US), National Surgical (Australia), Axiom Medical (US), Péters Surgical (France), Ningbo Luke medical China), Goharshafa (Iran), ARMSTRONG MEDICAL (UK), Angiplast (India), CHIMED (Italy), and pfm medical (Germany).

B. Braun Melsungen held the leading position in the global surgical drains market in 2016. The company offers an extensive range of surgical drains. The company has a strong geographic presence and focuses on expansions to strengthen its foothold in the market. In September 2014, the company formed a new subsidiary—B. Braun of Canada, Ltd. This expansion enabled the company to work more closely with customers and Group Purchasing Organizations across the country. The company’s Hospital Care and Aesculap division witnessed a 4.7% and 3.7% growth in its net sales due to strong performance in surgical solutions in 2016. Aesculap also provides advanced training for physicians and specialists in hospitals and medical practices to enable them to keep up with the rapid pace of developments in the healthcare industry through the Aesculap Academy. The Aesculap Academy has local headquarters in more than 40 countries.

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Cardinal Health has a strong geographic presence and a robust product portfolio of surgical drains. As part of its growth strategy, Cardinal Health focuses on organic growth strategies like geographic expansions to increase and enhance its market presence in the surgical drains market. For instance, in 2015, the company opened its new healthcare supply chain innovation center in the US. It provides customized healthcare solutions to hospitals, ambulatory surgery centers, clinical laboratories, pharmacies, and physician offices across the globe. The company’s high-quality products and its presence across the globe help it to hold a leading position in the surgical drains market.

Ambulatory EHR Market Development | Industry Report 2021

According to research the research report Ambulatory EHR Market is expected to reach USD 5.20 billion by 2021 from USD 3.92 billion in 2016, at a CAGR of 5.8%. The Asia-Pacific region presents huge opportunities for growth in the ambulatory EHR market owing to the investments and reforms to modernize China’s healthcare infrastructure, the digital healthcare scenario in India, Japan’s favourable outlook for HCIT, and the implementation of e-Health in Australia.

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The report provides an overall understanding of the market. The application segment includes practice management, patient management, e-prescribing, referral management, population health management, decision support, and health analytics. In 2016, the practice management segment commanded the largest share of the global ambulatory EHR market. These solutions increase the efficiency of day-to-day operations, enhance the value of services provided, and ensure compliance with regulatory requirements.

The delivery mode segment of the market includes cloud-based solutions and on-premise solutions. The cloud-based solutions segment commanded the largest share of the global ambulatory EHR market in 2016 and is expected to be the fastest growing segment during the forecast period. The market is mainly driven by the advantages associated with cloud-based solutions, which include flexibility and cost reduction in healthcare delivery.

Based on practice size, the global ambulatory EHR market is categorized into large practices, small-to-medium-sized practices, and solo practices. The large practices segment commanded the largest share of the global ambulatory EHR market in 2016, owing to factors such as the availability of capital investments, ability to handle the productivity challenges that are created by new EHR adoption, and ability to choose among vendors. However, the small-to-medium-sized practices segment is estimated to register the highest growth rate primarily due to the funding provided by regional exchange centres (REC) to support the adoption of EHR among these users.

The end user segment of the ambulatory EHR market includes hospital-owned ambulatory centres and independent centres. The hospital-owned ambulatory centres segment commanded the largest share of the global ambulatory EHR market in 2016 and is expected to be the fastest growing segment during the forecast period. The large share and high growth rate of hospital-owned ambulatory centres can be attributed to the growing need to improve the profitability of healthcare operations and ensure cost-containment by preventing unnecessary healthcare spending, along with government initiatives to improve the quality of care and payment deduction for eligible professionals who are not meaningful users of Certified EHR.

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North America accounted for the largest share of the market in 2016. The large share of the North American ambulatory EHR market can be attributed to factors such as federal mandates, increasing geriatric population, collaboration between stakeholders, the need to curtail healthcare costs, payment deductions driving the adoption of EHR, conferences and workshops to raise awareness in the U.S., growing efforts to enhance healthcare delivery, and the adoption of digital recordkeeping in Canada.

Blood Gas Analyzer Market Recent Development | Industry Report 2021

According to research report the blood gas analyzer market was estimated to be USD 506.9 Million in 2016, which would reach USD 636 Million by 2021, growing at a CAGR of 4.6% during 2016 to 2021.

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The major players in the global blood gas analyzer market are Abbott Laboratories (U.S.), Alere, Inc. (U.S.), Instrumentation Laboratory (U.S.), Radiometer (Denmark), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany). The top 3 companies together account for a share of more than 70% of the global market. These players have adopted several strategies to remain competitive in this space. Enhancement of existing products, development of new products, collaborations and agreements are among the top strategies adopted by the leading companies in blood gas analyzers market.

Companies such as Roche Diagnostics Limited, Nova Biomedical, Abbott Laboratories, and OPTI Medical Systems, Inc. adopted the strategy of new product launch to develop novel blood gas analyzers, strengthen their product portfolios, and address the demands of their customers. In June 2016, Roche Diagnostics launched its blood gas learning application, namely, Blood Gas Learn Your ABGs. The new app helps in learning and interpreting arterial blood gases. This enabled the company to enhance its market visibility. Similarly, Nova launched Stat Profile Prime, a blood gas analyzer, in May 2014. This testing system can be combined with Nova’s zero maintenance cartridge technology, which gives faster and accurate results. The launch of this product helped the company to expand its product offerings in the point-of-care testing market.

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North America is estimated to dominate the global blood gas analyzer market in 2016. The large share of this regional segment can primarily be attributed to the growing prevalence of lifestyle diseases, increasing number of product approvals, and rising government initiatives. On the other hand, the Asia-Pacific market is expected to witness the highest growth during the forecast period, owing to factors such as growing initiatives by market players and increasing patient population base in this region.

Diagnostic Electrocardiograph (ECG) Market worth $10.3 billion by 2024

According to the new market research report global Diagnostic Electrocardiograph Market is expected to reach USD 10.3 billion by 2024 from USD 7.5 billion in 2019, at a CAGR of 6.4% during the forecast period.

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The Factors such as the rising incidence of lifestyle & cardiovascular diseases and increasing geriatric population are expected to propel the growth of the market.

The hospitals, clinics, and cardiac centers segment accounted for the largest share of the Diagnostic Electrocardiograph (ECG) Market in 2018

By end user, the market is classified into hospitals, clinics, and cardiac centers; ambulatory surgical centers; and other end users. In 2018, the hospitals, clinics, and cardiac centers segment accounted for the largest share of the market. The large share of this segment can primarily be attributed to the growing burden of cardiovascular diseases, which, in turn, is increasing the need for quality cardiology care.

The 3-lead ECG segment is expected to grow at the highest CAGR in the diagnostic ECG market during the forecast period

By lead type, the diagnostic ECG market is divided into 12-lead, 5-lead, 3-lead, 6-lead, single-lead, and other lead types (15- and 18-lead). The 3-lead segment is expected to grow at the highest CAGR during the forecast period. This positive growth is primarily due to the fact that these leads are used conjointly with various other cardiac diagnostic tests and during medical procedures.

Asia Pacific diagnostic ECG market is expected to grow at the highest CAGR during the forecast period

On the basis of region, the diagnostic ECG market is segmented into North America, Europe, Asia Pacific, and RoW. The Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such as growth in the geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, growing demand for advanced technologies, and less stringent regulations are fueling the demand for diagnostic ECG products and services in this region.

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Market Players

The Diagnostic Electrocardiograph (ECG) Market is dominated by players such as GE Healthcare (US), Philips Healthcare (Netherlands), Nihon Kohden (Japan), Hill-Rom Holdings (US), and Ambu (Denmark).