New Product Formulations Hold the Key to Undeterred Sales of Oxycodone

Growing cases and demand for pain management is increasing the number of referrals to pain management clinics, which is resulting in the growth of the oxycodone market. According to the latest research conducted by the Future Market Insights (FMI), the global oxycodone market is anticipated to account for over US$ 4,016.1 Mn, in terms of value, by 2028 end. The report further projects significant growth potential for the market, which is expected to expand at a CAGR of 4.6 % through 2028.

The market has been segmented by product type, applications, distribution channels and regions. The product type segment of the market includes long acting oxycodone and short acting oxycodone. The application segment of the market includes pain management and de-addiction. On the basis of distribution channel, the market has been segmented into retail pharmacies and hospital pharmacies. Based on product type, the long acting segment is expected to account for the largest share of 69.5 % in 2018 and is expected to grow at the highest CAGR of 4.9% during the forecast period.

The growth of the global oxycodone market is being primarily driven by the rise in the number of patients suffering from terminally ill diseases, severe cough resulting from lung infection, cancer and high surge in prescription for post-operative pain medication. These are some of the important factors expected to boost the consumption of opioids as a pain medicine.

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According to the Center for Disease Control and Prevention, in 2013, 239 million surgeries were conducted across the globe, of which 69 million were conducted in the U.S. Of all these 239 million surgeries, around 65% of the patients experienced moderate to severe post-operative pain. Opioid pain management drugs adoption is indirectly expanding the growth of the oxycodone market. However, poor efficiency and efficacy of oxycodone might hamper the growth of the oxycodone market during the forecast period. The companies operating in the market are involved in developing advanced formulations and new experimental drugs.

Concerns over opioid abuse and associated mortality due to opioid abuse are the primary restraints negatively impacting the concerned market. Opioid abuse deaths accounted for 49,000 of the 72,000 drug overdose deaths in the U.S. in 2017. According to the estimates presented by the center of disease control, about 66% of the 63,600 drug overdose deaths in 2016 involved the use of an opioid. On an average, 115 U.S. citizens die every day due to opioid overdose.

This oxycodone report assesses the trends that are driving the growth of each segment of the market at the global as well as regional level and offers potential takeaways that could prove substantially useful for manufacturers planning to enter the market.

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North America is expected to be the dominant regional market for oxycodone and accounted for a high revenue share in 2017. The U.S. market is expected to account for a large share and is expected to grow at a CAGR of 5.9% over the forecast period. Europe and Asia Pacific are expected to grow at CAGRs of 4.8% and 4.2%, respectively. The developing regions, led by India and China, are expected to drive the future oxycodone market owing to their developing economies and expanding healthcare infrastructure.

The Middle East and Africa market is dominated by the gulf economies owing to their high per capita income and high public healthcare expenditure. The development of large hospital complexes in the Gulf nations will drive market adoption of oxycodone products.

FMI’s report tracks some of the key companies operating in the market, such as Purdue Pharma, Pfizer Inc., Janssen Pharmaceuticals Inc., Teva Pharmaceuticals, Endo Pharmaceuticals plc., Westward Pharmaceuticals, Mallinckrodt Pharmaceuticals, Mylan N.V., Impax Laboratories Inc. and Indivior plc., among others.

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The companies operating in the oxycodone market are focusing on developing new drugs. Concerns over oxycodone use and the growing mortality from overdose are the primary constraints in the oxycodone market.

Government initiatives in cancer treatment to fuel growth of the global biopsy device market during the projected period

Key players focussing on strategic M&A for amplified market shares

Patients are increasingly preferring minimally invasive surgical procedures in order to avoid conventional surgical complications and side-effects, promoting sales of biopsy devices, leading to the growth of the biopsy devices globally. In addition to enabling the accurate diagnosis, a biopsy device assures minimal patient discomfort and trauma. This is identified to be a major factor impacting the popularity of biopsy, and biopsy device thereby.

Over the 10-year forecast period 2016-2026, the global biopsy device market is estimated to witness a moderate yet promising CAGR of 6.5%, according to Future Market Insights. In a recently published report titled “Global Biopsy Device Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”, Future Market Insights analyses the market for biopsy device and offers key insights into the market condition for the aforementioned period. Valued at around US$ 1,397 Mn in 2016, the market will possibly attain the revenues beyond US$ 2,621 Mn by 2026-end.

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Key Opportunities for Manufacturers and Suppliers, Grasped by Future Market Insights Research:

• Developing economies present lucrative, untapped markets for biopsy device.
• Growing adoption of hybrid imaging technology will underpin new growth opportunities.
• Following massive consumption by hospitals, demand for biopsy device from specific oncology centres and research institutes will prompt at multiple opportunities in near future.
• Surging demand for minimal invasive breast biopsy highlight lucrative opportunities that lie in the breast cancer sector.
• Increasing adoption of biopsy device by oncologists will generate several revenue generation opportunities in the disease monitoring sector.

Supported by increasing discretionary funding for cancer research, growing government expenditure for healthcare and favourable reimbursement scenario (especially in the U.S.) will collectively elevate the revenue sales of the global biopsy device market. Collaborations between various government and private companies, fuelled by increasing awareness about disease diagnosis and monitoring, will further elevate the market growth in near future.

M&A and Technological Upgrades Remain at the Forefront

A majority of key players in the global biopsy device market are currently focusing on providing innovative biopsy tests and technological upgrades. Mergers, acquisitions, and partnerships with diagnostic laboratories will help to strengthen their presence in the global market.  

Among the top companies, Becton, Dickinson and Company is concentrating on innovative, cost-effective product development, whereas Hologic, Inc. is targeting manufacture and sales of biopsy devices, especially for breast cancer surgeries. Other notable players include Boston Scientific Inc., C. R. Bard, Inc., B. Braun Melsungen AG, Cook Medical, INRAD Inc., and PLANMED OY.

Argon Medical, one of the promising new entrants, is expanding its product portfolio and collaborating with established players, whereas for Devicor Medical Products Inc., M&A remains the key strategy.

North America Retains the Most Lucrative Market, Developing Countries to Witness Impressive Growth over 2016-2026

North America will remain the dominant market, reaching nearly US$ 882 Mn by 2026 end, accounting for over 33% share of the market. Western Europe is expected to remain the second largest market for biopsy device, crossing a value of US$ 683 Mn by the end of 2026, capturing over 26% share of the market.

APEJ, with around 14% market value share in 2026, is likely to reach US$ 370.0 Mn by the end of forecast period. MEA will register the fastest CAGR of 7.3%, followed by APEJ and Latin America with the respective CAGRs of 7.1% and 6.5% over 2016-2026. North America, Europe, and Japan will see moderate growth over the forecast period.

Needles Continue to Drive Product Type Segment

By product type, needles will remain dominant with over 36% share of the market value in 2026, whereas guns will represent the second largest sub-segment with over 26% market value share in 2026. With growing significance of early diagnosis of breast biopsy, guidance system segment is estimated to gain around 222 BPS in its market share by 2026 over 2016. Stereostatic X-ray guided biopsy will drive the guidance system segment through to 2026. Reagents and kits will witness moderate consumption.

Medical Diagnostics Monopolise Application Segment

Based on application type, medical diagnostics will continue to hold a dominant share of over 61% by 2026 end, in terms of revenues. Scientific research, accounting for the rest, will witness an impressively growing CAGR of 6.9% over 2016-2026. This segment is expected to reach beyond US$ 1,008.0 Mn in 2026.

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Hospitals Remain Largest End-use Consumer

By end-user, hospitals will continue to contribute nearly 50% share to the market value by 2026 end. This end-use segment will witness a robust CAGR of 8.2%. Diagnostic centres will account for over 23% in 2026 with a slight decline over 2016-2026, whereas specialised oncology centres are anticipated to expand at a CAGR of 6.1% during 2016-2026.

Global Microfluidics Market Poised for Robust CAGR of over 14% through 2026

Applications of microfluidics in drug delivery and diagnostics will continue to fuel the market for microfluidics over the next few years. “The US$ 2.9 Bn microfluidics market will possibly cross US$ 11 Bn by the end of 2026. North America is expected to contribute over US$ 3 Bn to the total revenues in 2026. The collective share of North America and Asia Pacific will be over 40%,” states Future Market Insights in a recently published market report outlook, titled “Microfluidics Market: Global Industry Analysis and Opportunity Assessment, 2016-2026.”

The report by Future Market Insights analyses the global market for microfluidics over a 10-year forecast period, 2016-2026. The market is likely to witness a robust CAGR of 14.4% over the assessed period.

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Key Insights: Market Dynamics

• Increasing discretionary funding from national labs for R&D in the developed regions will remain a primary factor driving the growth of market through 2026.
• Improving healthcare infrastructure and wide availability of affordable microfluidic devices or kits are also foreseen to boost the market growth in near future, especially in developing countries.
• Expansion of drug delivery sector will favour the market growth in near future.
• Consistent advancements in the fields of genomics and proteomics are also expected to benefit the sales of microfluidics-based devices and kits.
• Dynamic collaborations between key market players and active involvement of government entities will collectively foster the market through 2026.

Key Insights: Segments

Ceramics will remain dominant material type

Based on material, ceramics will continue to be the most sought after material for microfluidic device or kit manufacturing. Ceramics segment is expected to remain dominance, accounting for over 42% market value share in 2026, followed by glass, polymer, and silicon. While ceramics is likely to witness the fastest growth, polymer segment is anticipated to exhibit a significant CAGR of over 15% over 2016-2026, driven by PVC.

POCT will be dominant application segment

By application, POCT (point of care testing) segment is projected to retain dominance through 2026, accounting for over 33% share in terms of revenues. Clinical diagnostics and analytical testing will remain the next major segments in the global microfluidics market.

In-vitro diagnostics industry will hold maximum revenue share

On the basis of industry, in-vitro diagnostics, life science research, and pharmaceuticals are likely to be the key segments. In-vitro diagnostics segment is estimated to hold a share of over 35% in the total market revenues. The fastest growing segment will be in-vitro diagnosis.

APEJ will be the most lucrative regional market

Geographically, North America, followed by Western Europe are expected to remain the dominant regions for microfluidics, capturing respective market value share of over 26% and over 21% share by 2026 end. Asia Pacific (excluding Japan) will possibly represent the most lucrative market, expanding at a significant CAGR of over 14% throughout the forecast period. This growth is attributed to growing use of microfluidics devices and kits for in-vitro diagnostics. North America and Western Europe will also exhibit significant growth rates over 2016-2026. 

Key Insights: Leading Market Players

Some of the most prominent players in the global microfluidics market, include Agilent Technologies, PerkinElmer Inc., Thermo Fisher Scientific Inc., Qiagen NV, Bio-Rad Laboratories, Inc., Fluidigm Corporation, Abbott Laboratories, and F. Hoffmann-La Roche Ltd.

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Almost all the leading companies serve point of care testing application and survive the competition with an individual differentiating strategy. Thermo Fisher Scientific Inc. and Abbott Laboratories, through active engagement in agreements and collaborations with leading regional companies, highlight a growing trend of strategic mergers and acquisitions among the top companies.

Aromatherapy Market: Essential Oils Will Continue to Rule Consumer Preferences Owing to Their Therapeutic Benefits

A recent study of Future Market Insights (FMI) envisages the aromatherapy market to record a healthy 7.7% value CAGR and reach US$ 8,058.5 million valuation between the period of forecast 2016 and 2026. The market is expected to experience promising growth in the near future, mainly due to the increasing health and wellness trend, and popularity of the direct sales channel. Medical centers offering therapeutic treatments have initiated promotions for the use of aromatherapy in the treatment of generic ailments such as headaches, anxiety and depression. Increasing preference for aromatherapy will also be instrumented by its efficiency in boosting cognitive performance, increasing blood circulation, strengthening immunity, improving digestion and reducing pain.

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The regions of North America and Western Europe are projected to continue their dominance in the aromatherapy market. Collective revenues from aromatherapy product sales in these two regions will surpass US$ 4 billion, according to the study. However, Asia Pacific excluding Japan (APEJ) will record fastest growth in the aromatherapy market, as spa tourism is on the go in ASEAN markets, and an increasing number of women in this region are inclined to buy essential oils for home usage.

Diffusers and other equipment used for extracting the aroma of plant extracts will continue to witness a slower sales growth rate as compared to consumables. Revenues from aromatherapy consumables, such as blended oils, carrier oils, will account for bulk shares of the market during the forecast period. There has been increasing usage of aromatherapy diffusers at home to ward off bad smells. The therapeutic properties of essential oils such as immune system, combating cold, allergies and breathing disorders are promoting sound sleep and relaxation at home. As a result, increasing number of people are opting to buy aromatherapy diffusers and essential oils for home usage.

Aromatherapy acts as a complementary treatment in many viral and bacterial diseases such as acute respiratory infections, viral infections, influenza, and bronchitis, and can be used during prophylactic and therapeutic treatment regime for many diseases. Owing to these added benefits and application of essential oils in many indications leads to increasing sales of essential oils for different condition which in turn drive the revenue growth of aromatherapy market.

Increasing consumer preference for aromatherapy can be attributed to its greater skin rejuvenation and hair fall control offered. This has further driven adoption of aromatherapy in skin care and hair care applications, with revenues projected to register an impressive growth through 2026. Demand for aromatherapy is also expected to rise in the treatment of insomnia, pain management, and scar management. Carrot seed, cedar wood, geranium, hyssop, juniper, rose and lavender essential oils are commonly used for scar management.

Aromatherapy market is fragmented with the presence of few established brands and many local players in the market, and the market is witnessing entry of many home-based and startup firms. The major share of market is captured by the brands such as Young Living Essential Oils, doTERRA, Now foods and Eden Garden.

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Considering the growth prospects in emerging markets, various established companies and startup firms have entered aromatherapy market to capture maximum share in emerging markets, as the market is at its nascent stage where herbal products are in high demand. Companies such as Mountain Rose Herbs, Eden Garden, Frontier Natural Products Co-op (Aura Cacia) and Plant Therapy Essential Oils based in the U.S. are recognized all over the world for offering organic herbs, aromatherapy products, essential oils, and other natural health and body care products through online big retail chains and through their own website.

Two U.S. based companies are likely to dominate the global surgical stapling devices market in terms of market share

With deployment of advanced technologies, medical practitioners will keep adopting specialised devices that facilitate specific surgical operations in medical procedures. Rising number of invasive surgeries has necessitated the need for improved devices for wound management. And, surgical staples have effectively replaced sutures for closing wounds during such procedures. Future Market Insights recently published its report on the global market for surgical stapling devices, the highlights from which indicate that rising number of laparoscopic surgeries performed across the globe have triggered the use of surgical stapling devices. 

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According to Future Market Insights, the global demand for surgical stapling devices is propelling along with the world’s rising geriatric population. Lesser time consumed by surgical stapling devices for closing wounds, and the accuracy & precision of these devices is favouring their adoption for treating wounds of aged patients. In 2016, close to US$ 2,000 Mn worth of surgical stapling devices were sold in the world. The report projects that these revenues will be doubled by the end of 2026, projecting that the global surgical stapling devices market will soar steadily at 7.6% CAGR. 

In the report, titled “Surgical Stapling Devices Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” North America has been identified as the largest market for surgical stapling devices. By the end of forecast period, more than US$ 1,000 Mn revenues will be solely attributed by North America’s surgical stapling devices market. Advanced healthcare infrastructure in Western Europe has facilitated the region’s surgical stapling devices market, which will register a value CAGR of 7.9% through 2026. Although, fastest consumption of surgical stapling devices will be witnessed in the Asia-Pacific excluding Japan (APEJ) region. The APEJ surgical stapling devices market is expected to soar at the highest CAGR of 8.6%. 

Leading Manufacturers of Surgical Stapling Devices: Medtronic plc, Grena Ltd., Purple Surgical Holdings Limited, Dextera Surgical Inc., Johnson & Johnson Services, Inc., 3M Company, and Meril Life Sciences Pvt. Ltd. 

The report reveals that hospitals will remain the largest end-users of surgical stapling devices in the world – accounting for more than 60% of global revenues. Meanwhile, the demand for surgical stapling devices will also gain traction in ambulatory surgical centres. Key findings in the report indicate that powered surgical stapling devices worth US$ 1,182 Mn were sold globally in 2016, while the demand for manual surgical stapling products is anticipated to incur a downtrend in the years to come. 

Throughout the forecast period, six out of ten surgical stapling devices sold in the world are likely to be disposable, while revenues from reusable surgical stapling products will be growing at a sluggish rate. Preference to curved surgical stapling is also on a rise, revenues from which are expected to soar impressively at 9% CAGR. 

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Dermatological surgeries will undoubtedly require greater number of surgical stapling devices. The report estimates that in 2016, nearly US$ 600 million revenues were amassed from the sales of surgical stapling devices in treatment of skin-related surgical wounds. The use of advanced surgical stapling devices is also expected to gain momentum for closing dissected or ruptured blood vessels during surgeries. Wounds situated in the patient’s digestive tract are also being treated by surgical stapling, and by the end of 2026, around US$ 665 million worth of devices will be consumed for such treatments.

MEA Veterinary Vaccines Market: Rising incidence of food borne and zoonotic diseases in MEA countries likely to fuel the demand for attenuated live vaccines

Animal breeding remains to be one of the most fundamental agricultural activity facilitating the growth of food & beverage industry in the Middle East. Milk and meat are some of the common raw materials derived from animal husbandry activities carried out in the MEA region. Future Market Insights recently published its research report on the veterinary vaccines market in the Middle East, which stated that – rising demand for food security in the Middle East, collaborative manufacturing measures witnessed among foodmakers and suppliers, and the absence of appropriate health tracking facilities for animals are factoring the growth in demand for veterinary vaccines. 

Future Market Insights projects that the MEA veterinary vaccines market, which is presently valued at US$ 267.3 million, will soar below average to reach US$ 422.9 million value by 2026-end and register a moderate CAGR of 4.7%. The report estimates that lack of resources for collection of samples, questionable potency of vaccines, and absence of harmonised vaccination procedures are limiting the supply and production of veterinary vaccines in the MEA region. Furthermore, ineffectiveness of veterinary vaccines in curing virulent animal diseases indicates shortcomings on epidemiological knowledge faced by MEA’s virology research institutes. 

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Highest Veterinary Vaccine Sales recorded in Jordan

A regional analysis of the veterinary vaccines market in the Middle East identified Jordan as the most lucrative country for sales of veterinary serums. By the end of 2026, Jordan’s veterinary vaccine market is expected to dominate the MEA region by reaching value of US$ 88 million. The demand for veterinary vaccines will be equally higher in Turkey, while Sudan will witness moderate growth in terms of revenues. Meanwhile, countries such as the United Arab Emirates, Kingdom of Saudi Arabia and Egypt will witness revenue growth at more than 4% CAGR throughout the forecast period.

Based in Jordan, JOVAC is being recognised as one of the leading manufacturers of veterinary vaccines in the Middle East. The veterinary vaccines market in MEA region is also witnessing fervent involvement of European companies such as Bioveta, Inc., Merial, Bayer Healthcare AG, and Ceva. Other key players in the MEA veterinary vaccines market include, Intervac Pvt. Ltd., Zoetis, Elanco, and Merck & Co, Inc. 

Surging Demand for Food & Mouth Disease Vaccination

Prevalence of oral and digestion-related disorders among animals is shaping up the growth in demand for veterinary vaccines across the Middle East. More than 25% of veterinary vaccines revenues amassed from the MEA region during the projection period will be accounted by food and mouth diseases. New Castle disease has also been observed as prominent indicator for administering veterinary vaccines in this region. Moreover, outbreak of Avian influenza in the MEA region is anticipated to attribute more than US$ 80 million revenues by 2026-end. 

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In the report, titled “Veterinary Vaccines Market: Middle East Industry Analysis and Opportunity Assessment, 2016-2026,” the demand for attenuated live vaccines is predicted to remain high throughout the forecast period. Inactivated vaccines will also gain traction, while revenues garnered from sales of recombinant vaccines, DNA vaccines and toxoid vaccines will grow at a sluggish CAGR. Almost three-fourth of gross revenues amassed from sales of veterinary vaccines in the Middle East will continue to be used for treatment of livestock animals. And, these vaccines are likely to enter the market through veterinary clinics and private veterinary pharmacies. Distribution of veterinary vaccines in the Middle East will also be carried out by hospitals, revenues from which are estimated to surpass US$ 100 million by the end of 2026. 

Global dengue vaccine market revenue is expected to expand at a significant rate owing to a large unmet need

Burdening occurrence of dengue fever across the Asia-Pacific region has prompted the demand for effective vaccines and medications to supress this viral malaise. While several pharmaceutical companies are striving to develop a cure for dengue, the fever’s incidence rate in Asia-Pacific is rising at an alarming rate. A recent report published by Future Market Insights predicts that in 2017, an estimated 70.3% of global dengue vaccines market will be dominated by Asia-Pacific. Through 2027, the region will continue to be the largest market for dengue vaccines, procuring a majority revenue share and projecting revenue growth at a 17.4% CAGR.

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Future Market Insights also observes Latin America as the second-largest market for dengue vaccines, and is expected to rake in US$ 288.7 Mn towards the end of 2027. The report, titled “Dengue Vaccines Market: Global Industry Analysis and Opportunity Assessment, 2017-2027,” expects that more and more pharmaceutical giants from across the globe will be partaking in the market’s growth in the years to come. Currently, the market is witnessing active participation of French drugmaker, Sanofi S.A., while vaccines being formulated by companies such as Biological E. Limited, Takeda Pharmaceutical Company Limited, GlaxoSmithKline plc, Merck & Co. Inc., Vabiotech, Butantan Institute, and Panacea Biotech Ltd. are under multiple phases of development.

The report further reveals that government institutes will remain the largest end-users of dengue vaccines in the world. Through 2027, a little less than US$ 650 Mn worth of revenues is expected to arise from sales of dengue vaccines across government institutes. Meanwhile, hospitals will also dominate the market by registering a 17.3% revenue CAGR. The market, at present, will witness sales of the sole of vaccine, Dengvaxia, developed by Sanofi. Furthermore, factors shaping up the dynamics of global dengue vaccines market, also compiled in the report, are:

• Apart from the burdening outbreak of dengue in several countries, the economic turmoil in Latin America is projected to impact the global market’s growth at a macroeconomic level
• Live attenuated vaccines are being developed & produced economically, thereby comforting vaccine makers as well as patients
• However, lack of skilled professionals and unavailability of optimum diagnostic systems has given rise to cases where dengue fever is being treated as an undistinguished febrile disease
• The global market for dengue vaccines holds an opportunistic breakthrough when drugmakers will be able to successfully develop effective vaccines for all age group

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On the long run, the global market for dengue vaccines, which is presently valued at close to US$ 250 Mn, will soar vigorously to rake in US$ 1,250.6 Mn revenues by the end of 2027.

Bluetooth connected smart insulin pen segment to register highest market attractiveness index in the near future

Increasing pool of diabetic patients witnessed across the globe has prompted leading manufacturers of medical devices towards development of ground-breaking products. Smart insulin pens are among such devices that have revolutionised the global market for diabetic injection pens. A recent study published by Future Market Insights projects that the global smart insulin pens market, which is currently valued at US$ 0.86 Mn, will expand vigorously at 17.9% CAGR through the end of 2027. During this ten-year forecast period, the global demand for smart insulin pens is estimated to surge rapidly as medical device manufacturers will be actively adopting advanced technologies that deliver cutting-edge devices.

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While the parent market – global diabetic injection pens market – is presently worth US$ 4.9 Bn, contribution of revenues arising from global sales of smart insulin pens will remain minimal. Nevertheless, the global smart insulin pens market will bring in more than US$ 4 Mn revenues by the end of 2027. The report, titled “Smart Insulin Pens Market: Global Industry Analysis and Opportunity Assessment, 2017-2027,” also reveals that Europe will emerge as a dominant region for growth of global smart insulin pens market. Sales of smart insulin pens across European countries are anticipated to bring in over US$ 2.4 Mn by end of 2027. Meanwhile, awareness regarding smart insulin pens is expected to rise robustly across the US and Canada. North America’s smart insulin pens market is, thus, estimated to register revenue growth at a staggering 26.7% CAGR. Through 2027, sales of smart insulin pens across Asia-Pacific region are also projected to gain traction, bringing in a little over US$ 1.2 Mn in revenues.

Key Trends Driving the Demand for Smart Insulin Pens

A crucial factor fuelling the global sales of smart insulin pens is higher dependency of patients & medical professionals on data obtained from clinical trials. Conventional devices are unable to offer facilities that are provided through smart insulin pens. The demand for smart insulin pens is also driven by preference of health insurers towards outcome-based compensation models. Moreover, medical device manufacturers are looking at profitable opportunities arising from rising adoption of medical management processes, increasing development of insulin adherence programs, and higher demand for patient-centric devices. It has been estimated that during the forecast period, the global market for smart insulin pens will witness active participation from three medical device manufacturers – Companion Medical Inc., Emperra GmbH E-Health Technologies and Digital Medics Pty Ltd.

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The report further reveals that a majority of smart insulin pens sold across the world will be purchased for treatment of type II diabetes. The demand for smart insulin pens among type I diabetics is expected to remain considerably lower, procuring global revenues of just over US$ 700,000. Connectivity of smart insulin pens is also observed as a key aspect impacting the market’s growth. And, the report projects the global smart insulin pens market to remain equally split between Bluetooth and USB-connected pens through the end of 2027. The report also expects clinics and ambulatory surgical centres (ASCs) based across the globe as the largest distribution channels for smart insulin pens. In 2017, close to 88% of global smart insulin pens revenues are likely to be accounted by clinics and ASCs. On the other hand, proliferation of online commercial platforms will also play a key role in distribution of smart insulin pens. Throughout the forecast period, e-Commerce distribution channels are expected to exhibit revenue growth at more than 24% CAGR.

Demand for Varicose Vein Treatment Surges in Parallel with Increasing Prevalence of Obesity

Unattended varicose veins can cause one severe pain through swelling, ulceration, venous eczema, and lipodermatosclerosis. Treating them through appropriate measures becomes quite crucial. One may opt for non-surgical remedies such as sclerotherapy, leg elevation, or alternative invasive techniques such as endovenous laser treatments. Collectively, these therapies can be addressed as varicose vein treatments, medically-practiced in all parts of the world. The demand for such varicose vein treatments is expected to grow in the years to come.

Future Market Insights recently conducted its forecast study on the global market for varicose vein treatments, estimating the market’s current value at just over US$ 500 Mn. The report, titled “Varicose Vein Treatment Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” projects that rising prevalence of obesity will fuel the incidence rate of varicose veins in the world. Occurrence of varicose vein is medically-proven to be higher among obese people. Along with this, the demand for varicose vein treatments is also expected to grow on the account of effectiveness of the treatments, utilisation of user-friendly devices, and growing emphasis of medical practitioners on ensuring patient safety during critical treatment of varicose veins. Towards the end of 2026, the global market for varicose vein treatment will have reached value of US$ 931.4 Mn, registering a robust growth at 6.4% CAGR.

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Varicose Vein Treatments: Market Opportunities

Backed with strong clinical evidence, endovenous laser ablation devices are more popular to treat varicose veins. However, compared to other procedures such as foam fillers, vein stripping costs, and blast with electricity, endscopic variceal ligation (EVL) is a costlier treatment alternative. Launch of cost-effective EVL devices will work as a favourable opportunity for new entrants as well as existing players in the market. Decreasing the procedure costs and enhancing the adoption of affordable devices will cumulatively boost the adoption of varicose vein treatments.

Among the wide variety of endovenous laser ablation devices available in the market, some of them may lead to complications such as thrombophlebitis, nerve damage, burns and deep vein thrombosis conditions. There is a potential opportunity for endovenous laser ablation device manufacturers to tap the larger market by offering competitive products that cause lesser complications.

APEJ Varicose Vein Treatment Market to Record Speedy Growth

Apropos the report, more than 40% of the market revenues will remain concentrated in North America, throughout the forecast period. By 2026-end, North America’s varicose vein treatment market will have reached a value of US$ 420 Mn. US-based AngioDynamics, Inc. will be observed as a key player in the market during this period. In terms of revenue growth, the varicose vein treatment market in Asia-Pacific excluding Japan (APEJ) region is projected to be at the forefront. By exhibiting 7% CAGR, the APEJ varicose vein treatment market will witness active participation of Korean medical device manufacturer, Wontech Co., Ltd. Apart from these, Syneron Medical Ltd., Dornier MedTech GmbH, Alma Lasers Ltd., Alna-Medicalsystem GmbH, LSO Medical, Energist Ltd. and intros Medical Laser GmbH are other companies partaking in the growth of global varicose vein treatment market.

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The report further reveals that hospitals and ambulatory surgical centres as end-users will account for larger share of global revenues, while specialised clinics will register fastest revenue growth at 7.2% CAGR. The report also identifies endovenous laser treatment as the dominant varicose vein treatment in the market, procuring revenues worth over US$ 500 Mn by end of 2026.

Rising cases of cancer, orthopaedic and other chronic diseases likely to impact the global teleradiology market

According to National Institute of Cancer, 448.7 new cancer cases per 100,000 men and women are diagnosed each year in the US. Taking into account the gravity of such details, the demand for teleradiology is expected to surge not just in the US, but in regions witnessing higher concurrence of cancer. In its latest report, Future Market Insights assesses that the global demand for teleradiology will soar vigorously in the years to come. And, the report projects that largest share of global teleradiology revenues will be emanating from the US alone. The country will not only account for dominance of North America in the global teleradiology market, but by the end of 2026, US teleradiology revenues will have closed in on US$ 5.5 Bn value. During this period, the US teleradiology market is expected to reflect a sizeable gain of 416 BPS, exhibiting a stellar CAGR of 22.3%. 

According to Future Market Insights, the global market for teleradiology is presently valued at US$ 1.9 Bn, and is anticipated to be worth US$ 13.2 Bn by the end of 2026, reflecting a CAGR of 21%. The report, titled “Teleradiology Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” has analysed the global teleradiology market by splitting other parts of the world from the US. Dominance of US on the global teleradiology market is expected to remain throughout the forecast. Teleradiology Solutions, Argus Radiology, USARAD Holdings, Inc., TeleDiagnosys Services Pvt. Ltd., Imaging Advantage, Foundation Radiology Group, Direct Radiology, Imaging On Call, LLC, ONRAD, Inc., Rays (Envision Healthcare Company), StatRad LLC, ARIS Radiology, NightShift Radiology, Mednax, Inc., Alta Vista TeleRadiology, and Quality Nighthawk are US-based companies actively participating in the growth of global teleradiology market. 

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However, the report also anticipates higher contribution from Europe and the Asia-Pacific excluding Japan (APEJ) region. By the end of 2026, the teleradiology market in Europe will have reached US$ 2.76 Bn in value, while teleradiology revenues accounted the APEJ region will record fastest growth at 24.6% CAGR. European healthcare companies such as Global Diagnostics (Integral Diagnostics), 4ways Healthcare Limited, Medica Group PLC, Teleconsult Europe, and Telemedicine Clinic are also observed as key market players. The report has also profiled companies such as Everlight Radiology, SRL Diagnostics, and Vital Radiology Services, which are based across the APEJ region. 

Easy Access to Teleradiology Promoting its Adoption

The report has observed that increasing consumer awareness regarding teleradiology & easy accessibility of this technology are boosting the market’s growth at considerable extent. Due to online availability of the radiology series, diagnostic images of complex problems can be shared between professionals within a medical setting. Moreover, local clinicians or radiologists can get opinions from subspecialists in order to make informed decision. Active participation and initiatives taken by various government and non-profit organizations to spread awareness regarding telemedicine worldwide is also expected to fuel growth of the global teleradiology market. 

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Global Teleradiology Market: Key Research Highlights

• A majority of teleradiologists will be preferring CT-scan as the modality for diagnosis, revenues from which are expected to surge at 23.6% CAGR
• MRI scan and ultrasound scans will also be prominent modes of carrying out teleradiological diagnosis
• While hospitals & clinics, collectively, will remain the largest end-users of teleradiology, the demand for such diagnostic technology is expected to gain traction across ambulatory surgical centres (ASCs)
• By 2026-end, ASCs will account for an estimated 30% share of global teleradiology revenues 

Compression Garments and Stockings Market Estimated to Grow Strongly by 2027

According to a latest report published by Future Market Insights, by the end of 2027, the global compression garments and stockings market is anticipated to reach US$ 3,541.3 Mn in value, reflecting a moderate growth at 4.9% CAGR. The global market for compression garments and stockings, which is currently valued at a little over US$ 2,100 Mn, will witness a steady growth in terms of volumes over the forecast period from 2017 to 2027. Towards the end of this period, more than 46 million units of compression garments and stockings will be sold across the globe. The report estimates that volume-wise growth of the global compression garments and stockings market will exhibit a 5.2% CAGR, after recording global sales of 26.5 million compression garments & stockings in 2016. 

The report, titled “Compression Garments & Stockings Market: Global Industry Analysis and Opportunity Assessment, 2017-2027,” has included multiple factors impacting the growth of global compression garments & stockings market during the forecast period. Growing caseload for varicose vein treatments and orthopaedic surgeries is observed as a key driver boosting the sales of compression garments & stockings. Meanwhile, advancements in fabric and garment designer is serving as a blessing in disguise for compression garment & stocking manufacturers. Moreover, rising sports injuries, increase in the number of orthopaedic surgeries, and rapidly growing obese population witnessed in several parts of the world is boosting the global demand for compression therapy products. 

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The report has also assessed that compression therapy will remain to be recognized as a gold standard for the treatment of lymphedema, chronic venous insufficiency, and deep vein thrombosis during the forecast period. Compression garments and stockings are easy-to-use, safe, and provides effective treatment in a short time span, which will continue fuelling their sales in the long run. Nonetheless, treatment of vascular diseases with compression therapy products is expensive, and demands greater expenditure for routine follow-ups and out-patient monitoring. 

Global Compression Garments & Stockings Market – Forecast Highlights

• In 2016, more than 90% of the global compression garments and stockings market revenues was accounted by global sales of compression garments
• Through 2027, lower compression garments are pegged to remain in great demand, reflecting a volume CAGR of 5.6%
• Throughout the forecast period, varicose veins will be observed as the largest application, account for half of global revenues by 2027-end
• Wound care application of compression garments and stockings is also expected to gain traction, showcasing a value CAGR of 5.2%
• Towards the end of 2027, more than 15 million compression garments and stockings will be distributed across the globe through hospitals
• In the due course of this forecast period, online sales will be observed as fastest-growing distribution channels, exhibiting a robust volume CAGR of 6.5%
• North America and Western Europe, together, will be at the forefront of expansion of global compression garments and stockings market
• While these two regions account for nearly 70% of the market revenues by 2027-end, the compression garments and stockings markets in Latin America and the Asia-Pacific excluding Japan (APEJ) region will register value CAGRs of 5% and 6.2% respectively 

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Strict Guidelines Limits the Design Space for Potential Conceptual Ideas

Manufacturing medical compression garments require strict guidelines to be followed. Manufacturers are prioritizing optimal therapeutic efficacy, product reliability and best comfort while producing compression garments and stockings. Faulty products and poorly-designed garments & stockings can cause shearing, a potential problem if the patient has weak skin, a venous ulcer or some other wounds. This constraint limits the design space for potential conceptual ideas as patient safety continues to be the most crucial concern and constraint for manufacturers. The report has profiled leading players in the global compression garments and stockings market, which include 3M, BSN Medical, Nouvelle Inc., Medical Z, medi GmbH & Co KG, Covidien Ltd. (a Medtronic PLC. Company), SIGVARIS, Therafirm, Santemol Group Medical, 2XU Pty. Ltd., and Leonisa, Inc.

Respiratory Devices Market Poised to Expand at a Robust Pace Over 2017 – 2027

In an era of smart technologies, conventional devices are being transformed into more intuitive devices. The respiratory devices market is expected to witness transitions from conventional to smart respiratory devices. The challenges associated with empowering the patient population to manage respiratory disorders such as asthma and COPD is likely to spur the need for more simplified and patient-friendly respiratory devices. According to a latest research by Future Market Insights (FMI), the global respiratory devices market is expected to account for over US$ 34,178.1 Mn in terms of value by the end of 2027. The report on respiratory devices further projects significant growth potential with average year-on-year growth rate pegged at 9.2% through 2027.

Respiratory Devices Market Overview & Global Scenario

According to WHO, around 235 million people suffer from asthma each year globally. This high prevalence of respiratory disorders has also significantly impacted the death ratio owing to the lack of effectiveness of inhalers. In several cases, patients do not use respiratory devices/inhalers properly, which leads to uncontrolled asthma. The improper usage of respiratory devices/inhalers also leads to limited drug infusion to the lungs, which leads to poor disease control and increase in the cost of care. In May 2014, National Review of Asthma Deaths published that 2/3rds of mortalities in the UK could be managed with proper routine check-ups. The growing number of hospital admissions due to the improper usage of respiratory devices/inhalers has accelerated the development of first-generation smart respiratory devices/inhalers. These first-generation smart inhalers are built on Bluetooth-enabled technology, which is used to monitor respiratory devices/inhaler usage, patient data collection and dose reminders. However, these respiratory devices have significant room for further improvement as patients are looking for more integrated solutions that can reduce the size of inhalers.

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Respiratory Devices Market: Factors Impacting Growth in Revenue

The growing demand for lightweight and easy to carry portable oxygen concentrators has created the need for innovations in the respiratory devices market. Easy availability of land and other important resources required for production of the respiratory devices with low cost labor the major key players operating in respiratory devices are planning to shift their production facilities to such places, which in turn is expected to change in profit margins of respiratory devices for the company The manufacturers of respiratory devices are investing in product development to drive innovation, which has resulted in the creation of lighter-weight and cost-effective portable oxygen concentrators. Manufacturers of respiratory devices are considering all aspects during the production designing of respiratory devices, which include aesthetics, packaging, noise level, battery life, etc. The company predicts that the portable oxygen concentrators segment in the respiratory devices market will reach US$ 2,061.5 Mn by the end of 2027 with a CAGR of 9.4% over the forecast period.

Increasing preference for in-home respiratory therapy for patients suffering from chronic respiratory disorders or patients being treated for infection, which does not require hospitalization, is likely to boost the demand for home oxygen concentrators in respiratory devices market. This is likely to fuel the global demand for home oxygen concentrators in respiratory devices market. FMI predicts that the home oxygen concentrators segment in the respiratory devices market will grow with a CAGR of 6.9% over the forecast period. In-home ventilation therapy (CPAP & BiPAP) is also gaining popularity among COPD and Obstructive Sleep Apnea (OSA) patients. These types of in-home ventilation therapies have reduced the rate of hospitalisation and the overall cost of treatment.

About the Respiratory Devices Market Report

FMI has segmented the global respiratory devices market into product type, end user and region. In terms of revenue, the positive airway pressure devices segment in the respiratory devices market is expected to hold a significant revenue share over the forecast period. On the other hand, the respiratory devices consumables segment in the respiratory devices market will exhibit faster growth in terms of revenue through 2027.

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FMI’s report tracks some of the key companies in the respiratory devices market, which include Drägerwerk AG & Co. KGaA, Hamilton Medical AG, Massimo Corporation, General Electric Healthcare Limited, Inogen Inc., Teleflex Incorporated, ResMed. Inc., Smiths Medical, Medtronic PLC, Koninklijke Philips N.V., and Fisher & Paykel Healthcare Limited.

Cancer Diagnostics Market is estimated to reach US$ 76.8 Bn by 2026 end

Biotechnology companies are focusing on the development of genotype- and phenotype-specific drugs for chronic diseases such as cancer in order to ensure that next-generation drugs are more efficacious. Multiplex and multi-analyte biomarkers play an important role in the development of translational medicine, which facilitates the translation of basic research into medical advances. In line with this, most pharmaceutical and biotechnology companies are committing to associate their drugs with diagnostic assays, as a number of multiplex biomarkers are directly associated with particular drugs. The growing research and development activities in cancer diagnostics are thus expected to bring revolutionary technologies in cancer diagnostics and in turn would drive the growth of the cancer diagnostics market. Future Market Insights, in its latest report on cancer diagnostics, estimates that the global market for cancer diagnostics is expected to expand 2.3x in terms of revenue by 2026 over 2016 and is estimated to reach US$ 76.8 Bn by 2026 end.

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Cancer Diagnostics Market: Overview & Global Market Scenario

Early detection of cancer requires suitable cancer diagnostics procedures to screen the asymptomatic population that is on average risk of cancer, particularly for breast cancer, cervical cancers, colon cancers and melanoma. Increasing awareness towards the early signs and symptoms of cancer among physicians and other healthcare professionals as well as the general population. The inclusion of cancer diagnostics and cancer screening tests to national cancer screening programs by various countries would flourish the global cancer diagnostics market. Regular mammography has been introduced in national cancer programs by major developed countries where the incidence of breast cancer is high. For instance, the U.S. government has included the National Mammography Program to its national cancer screening programs. The government of Australia conducts 3 cancer screening programs viz. BreastScreen Australia, National Cervical Screening Program and National Bowel Cancer Screening Program. Countries in Europe are increasingly adopting HPV DNA screening for cervical cancer as a part of National Cervical Cancer Programs.

Next generation sequencing (NGS) is the most cost-effective, time saving and successful technological advancement in cancer diagnostics in the last three decades. Revolutionary second-generation and third platforms for cancer diagnostics offered by Roche, Illumina and Life Technologies, Pacific Biosciences of California, Inc. are rapidly gaining adoption in the cancer diagnostics market. Many molecular pathology laboratories are transitioning from single molecular PCR protocols to NGS platforms and thus, the market for cancer diagnostics is expected to gain traction.

However, despite the high value propositions of molecular diagnostics for cancer diagnosis, insufficient coverage for costly test procedures discourages majority of patients from pursuing these tests. Moreover, according to the new pricing policy for 2017, CMS has increased rates for several new CPT codes including next-gen sequencing and multi analyte algorithm assays. For instance, CMS increased the cost of next-generation sequencing tests for hereditary breast cancer-related disorders (CPT code 81432) from US$ 623 to US$ 925. It is anticipated that state Medicaid programs will also adjust their prices to reflect Medicare rates. Regulators of CMS as well as private payers are increasingly emphasizing on increasing value and single-source tests having strong evidence of clinical utility. In 2013, CMS discontinued the ‘code stacking’ method for molecular diagnostic reimbursement for cancer. The center has dissolved this policy due to the wrongful exploitation of payment scheme by some of the labs and has stopped paying bills for these tests until the new method of ‘market-based pricing’ comes into action by 2018.

The biopsy segment is likely to dominate the global cancer diagnostics market, primarily due to the introduction of new and advanced techniques such as liquid biopsy and fine needle aspiration for lung cancer. However, the imaging cancer diagnostics segment is expected to gain significant traction due to the high efficiency of imaging technologies such as PET/CT.

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Cancer Diagnostics Market: Competitive Analysis

The competition landscape in the global cancer diagnostics market is changing rapidly. Although molecular testing is a hotspot for investment in in vitro diagnostics, the market exhibits awfully delayed growth due to slow returns on investment. In spite of this, all big cancer diagnostics players in the global market are continuously investing in cancer diagnostics, including molecular biomarker testing, NGS, PET scanners, etc. Companies are also investing in the automation of existing molecular assays for cancer diagnostics to foster future growth prospects in the cancer diagnostics market; however, due to the strong competition among companies in the cancer diagnostics market, they may confront price erosion. For instance, Roche, in spite of being a global leader in cancer diagnostics for many years, has lost some ground after huge investments by its global peers such as Thermo Fisher Scientific Inc. and Merck KGaA, among others.