Monday, January 27, 2020

Global Intravenous Immunoglobulins Market to Reach US$ 15,789.1 Mn by 2025 Gaining from High Adoption of Immunoglobulin in Hospitals

The global prevalence of primary immunodeficiency is rising, giving impetus to the global intravenous immunoglobulins market. A report is published by Fortune Business Insights, titled “Intravenous Immunoglobulins: Global Market Analysis, Insights and Forecast, 2018-2025,” offers in-depth insights into the market. As per the report, in 2017 the global market was worth US$ 9,787.6 Mn. The market is anticipated to further expand at a CAGR of 6.2% and reach US$ 15,789.1 by the end of 2025.
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In terms of indication, the report classifies the global market in primary immunodeficiency, chronic inflammatory demyelinating polyneuropathy (CIDP), and others. Primary immunodeficiency was leading the market in 2017. The segment accounted for 28.6% of the global market in 2017. During the forecast period 2018-2025, the segment is likely to witness expansion at an impressive pace. Diagnosis of primary immunodeficiency is gaining momentum and encouraging the adoption of intravenous immunoglobulins. Moreover, e patients who are incapable to perform self-intervention of  immunoglobulin are further generating high demand in the intravenous immunoglobulins market. Besides this, the chronic inflammatory demyelinating polyneuropathy segment is forecast to show a slower growth owing to the low prevalence of the disease the segment may witness slow growth.

"Intravenous Immunoglobulin Application in Hospitals to Rise Persistently"

Intravenous immunoglobulin is the most common route of administration of immunoglobulins, which is the chief driver of the global market. The rising demand from hospitals and specialty clinics is anticipated to encourage the adoption of intravenous immunoglobulins. Furthermore, key companies are increasingly investing in research and development of advanced intravenous immunoglobulins. Such researches are likely to enable growth in the market over the forecast period.

Immunoglobulins are proven to be one of the best treatment options for various immune diseases. Owing to the high popularity of immunoglobulins, the market is foreseen to witness high demand.

On the contrary, factors that may restrain the global intravenous immunoglobulins market are side effects associated with Intravenous immunoglobulins and intravenous immunoglobulin’s high cost.

"North America to Continue Dominating Global Market"

The North America intravenous immunoglobulins market was worth US$ 5,587.4 Mn in 2017. The region is further expected to emerge dominant over the forecast period. The increasing number of patients in the region is anticipated to drive the regional market. Moreover, in terms of dominance of route of administration, intravenous (IV) is the most dominating type in developing nations. This is likely to enable growth in market. Besides this, the advanced intravenous immunoglobulins are rapidly adopted in developed nations. This in response if fueling the demand in market. Asia Pacific is anticipated to expand at a promising CAGR. Owing to the high prevalence of primary immunodeficiency in Asian population, the market is foreseen to witness demand for immunoglobulin.

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The competition among the key players is increasing. Owing to the prevailing opportunities, players are focusing on the adoption of innovative strategies to gain a strong brand presence. In 2017 Grifols, S.A. was leading the global market owing to its diverse product portfolio. The Grifols, S.A. also holds a major share in the European and North America intravenous immunoglobulins market. Other key companies operating in the global intravenous immunoglobulins market are CSL Behring, Grifols, S.A., Kedrion S.p.A, Octapharma, Bio Products Laboratory Ltd., Biotest AG, China Biologic Products Holdings, Inc., LFB SA, and Shanghai RAAS Blood Products Co., Ltd.

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Thursday, January 23, 2020

Global Blood Glucose Meter Market to Grow with Increasing Presence of Online Pharmacies

The global blood glucose meter market size is projected to reach USD 15,415.6 million by 2026, registering a CAGR of 9.6% during the forecast period. Rising prevalence of diabetes in the world is the factor dominating the blood glucose meter market trends. Diabetes is a metabolic disease in which the body is unable to properly process sugar into energy, leading to excess presence of glucose in the blood. The incidence rate of this disorder is on the rise worldwide.

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The International Diabetes Federation (IDF) estimates that around 425 million people are living with diabetes today; by 2045, this number is anticipated to increase to 628.6 million, a rise of 48% from current levels. Moreover, diabetes is the leading cause of neuropathy, kidney failure, amputations, and cardiovascular deaths. Therefore, people suffering from this chronic disease need to closely monitor their blood glucose levels as there are many associated disorders with this disease. As a result, the demand for blood glucose meters is expected to surge in the foreseeable future.

Fortune Business Insights covers some of the key players in this market include:

  • Lifespan Inc.
  • Hoffmann-Le Roche Ltd.
  • Abbott
  • Dexcom, Inc.
  • Ascensia Diabetes Care Holdings AG
  • Medtronic
  • Sanofi
  • Braun Melsungen AG
  • Terumo Medical Corporation

According to the Fortune Business Insights report, titled “Blood Glucose Meter Market Size, Share and Industry Analysis by Product (Continuous Glucose Monitoring Devices, Self-Monitoring Blood Glucose (SMBG) Systems), By Technique (Invasive, Non-Invasive), By Type (Wearable, Non-Wearable), By Distribution Channel (Institutional Sales, Retail Sales, Others), and Regional Forecast 2019-2026”, the market value stood at USD 7,419.0 million in 2018.

Incorporated within the report is an exhaustive analysis of the various factors, upcoming trends, and regional and competitive dynamics that are likely to shape the market during the forecast period. The research shared in it is aimed at providing businesses with adequate information so as to enable to design their strategies to meet the market needs.

"Increasing Adoption of Self-Monitoring Glucose Meters to Favour Market Growth"

Self-monitoring glucose systems have a variety of advantages compared to conventional testing methods. For example, they are easy to use devices that the patient can use by herself to monitor her blood sugar levels. An up-to-date reading can enable the doctor to advise an appropriate diet regime. Furthermore, it can aid the doctor to determine how well the prescribed medication is working and if it needs to be changed in any way. A further advancement in blood glucose meter systems is the creation of Continuous Glucose Monitoring (CGM), used mainly by patients with type 2 diabetes as it enables multiple dosages of insulin in the body during a day. These developments are expected to significantly brighten the future prospects of the market.

"Growing Demand for Innovative Monitoring Devices to Propel the Market in North America"

With a revenue generation of USD 3,012.6 million in 2018, North America, followed by Europe, is slated to command the blood glucose meter share in the forecast period. This will mainly be a result of increasing prevalence of diabetes in the region along with rapid adoption of advanced blood glucose monitoring technologies such as wearable devices. Rising healthcare spending and steady uptake of monitoring devices will allow Asia-Pacific to showcase the highest CAGR among regions.

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"Abbott Introduces Its Next-Gen Blood Glucose Monitor, Intensifies Competition"

The blood glucose meter market forecast points towards a period of intense competition owing to new product launches by key players in a bid to diversify their offerings as well as broaden their presence in the market. For example, in January 2019, Abbott launched its advanced glucose meter called FreeStyle Optium which is equipped to provide blood ketone readings to patients.
Similarly, in June 2018, BioTel CareTM unveiled its futuristic wireless glucose meter that is capable of transmitting and consolidating real-time patient data on an FDA-controlled cloud system.

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Tuesday, January 21, 2020

Dermal Fillers Market to Exhibit 7.8% CAGR, Allergan Launches a New Dermal Filler to Expand its Customer Reach: Fortune Business Insights

The rising demand for minimally-invasive procedures aiding the growth of the global dermal fillers market.  Fortune Business Insights in a new report, titled “DERMAL FILLERS: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026” suggests that the global market will rise at a CAGR of 7.8% during the forecast period, 2019-2026. The growing awareness about dermal fillers treatment in developed as well as developing countries will help the market reach US$ 6303.2 Mn by 2026. 

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Furthermore, the global market was worth US$ 3471.5 Mn in 2019. According to the American Society of Plastic Surgeons (ASPS), over 15.9 million people in the U.S. underwent minimally-invasive cosmetic surgical procedures in the year 2015. The increasing efficiency of dermal fillers is encouraging the next-generation people to invest in these surgeries.

Dermal filler procedures help to treat different skin related concerns such as minimizing the appearance of wrinkles and lines. It also adds fullness to areas that have thinned with aging.

"North America Leads Gains Owing to Growing Demand for Advanced Dermal Fillers"

In 2018, the market in North America was worth US$ 1,596.8 Mn. Driven by the growing demand for innovative and advanced dermal fillers, the region is expected to lead global market through the forecast years. As per a study conducted by ASPS, more than 2 million people in the U.S. underwent hyaluronic acid procedures. Increasing awareness about soft tissue fillers treatment in the U.S. is expected to drive the market in North America. Extensive availability of products in this region is positively impacting the growth of the market.

Apart from North America, the market in Asia Pacific is also growing substantially in the forecast years. The rising demand for aesthetics in China and India is creating growth opportunities for the market in Asia Pacific. In addition to this, the awareness about the effectiveness of dermal fillers for acne scars, lips, and cheeks is increasing gradually, which is driving the market in this region. Key market leaders in India and China are adopting strategies such as new product launches, augmenting demand for dermal fillers.

"Demand for Dermal Fillers to Rise Among Millennials Propelling Growth in the Market"

Growing aging population across the world positively impacts the growth of the market. Increasing number of aged people are undergoing dermal filler therapy to uplift drooping skin and restore lost volume. Continuous support from governments to R&D initiatives and recent regulatory approvals will spur growth in the market.

“The dermal fillers market is driven not only by the relative longevity of tissue fillers, but it is also predominantly driven by increasing safety profiles,” said a lead analyst at Fortune Business Insights. “Market players are constantly focusing on innovating and upgrading their product portfolio to ensure accurate and improved aesthetic outcomes for patients,” he added.  

Driven by continuous innovations and advancements, even millennials find dermal filler treatment appealing. This will further fuel demand for dermal fillers in the forecast period.

"Product Launches by Market Players to Accelerate the Market Growth"

The report profiles some of the key players in the global dermal fillers market. These include BioPlus Co., Ltd., Galderma laboratories, Bioxis pharmaceuticals, Cynosure Inc., Suneva Medical, DR. Korman, Sinclair Pharma, ALLERGAN, Merz Pharma, and CANDELA CORPORATION. Among these, ALLERGAN was leading the global market in 2018 encompassing a large number of specialized and technologically-advanced products. The company offers a JUVÉDERM collection of dermal fillers, which includes lip enhancement and wrinkles correction. Moreover, the company launched Juvéderm VOLUX to reduce fines lines on jawline and chin. 

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Another company called Merz Pharma recently launched a dermal filler product called Belotero Revive to meet the unique skin requirements of aesthetic patients. Such product launches are expected to help companies broaden their product portfolio, which will stimulate growth in the market.

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Wednesday, January 15, 2020

Global Contract Research Organization Services Market to Expand at 9.9% CAGR, Will Gain Impetus from Recent Mergers and Acquisitions

The global contract research organization services market will derive growth from increasing clinical trials in the coming years. According to a report by Fortune Business Insights, titled “Contract Research Organization Services: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 38,396.4 Mn in 2018. Fortune Business Insights states that the market will reach US$ 90,926.3 Mn by 2026, thereby exhibiting a CAGR of 9.9%.
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A contract research organization is a company that is engaged in providing various pharmaceutical services such as product development, statistical analysis, and regulatory updates. The contract research organization also helps in submitting applications for new drug approvals and framing these applications within the regulatory compliances, all while ensuring the applications meets safety standards as stated by the related authorities. Factors such as increasing healthcare expenditure by the government as well as private organizations will favor the growth of the global contract research organization services market in the forthcoming years.

Increasing Number of Non-Profit Organizations are Getting Involved in CRO launches

The demand for CROs has been increasing ever since healthcare institutions have unlocked various benefits of contract research organizations in business operations. With the inflating demand for CROs, investors have identified huge growth potential within establishing CROs. The rise in the number of investors involved in developing contract research organizations has contributed to the growth of the global CRO services market. Besides non-profit organizations, the market continues to witness newer CRO launches from leading companies around the world. IN April 2019, FHI 360 announced the launch of a new CRO service, named FHI Clinical. The company claims to help companies involved in the hard-to-reach market and focuses on resource-limited settings. Fortune Business Insights states that such new CRO launches will have a positive impact on the global contract research organizations services market and will favor growth of the market in the coming years.

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Increasing Mergers and Strategic Collaborations to Favor Market Growth

Increasing mergers and acquisitions aimed at developing existing CROs and establishing new CROs  are a primary factor that will account for the growth of the global contract research organization services market. The global CRO services market will also benefit from a recent surge in the number of company collaborations and agreements. In 2018, Cereno Scientific announced that it is collaborating with leading CRO ‘OCT’. The company announced the collaboration with the aim of conducting phase 2 clinical trials for study of Cereno’s latest drug ‘CS1’. Fortune Business Insights states that Cereno’s latest partnership will have a significant impact on the overall market. The report includes company collaborations and mergers, similar to Cereno’s latest merger.

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Friday, January 10, 2020

Genomics Market to Rise at 18.7% till 2026

The use of genomics is expanding in the medical industry, which is creating growth opportunities for the global genomics market. Fortune Business Insights in a new report, titled “Genomics: Global Market Analysis, Insights and Forecast, 2019-2026” offers valuable insights into the factors enabling growth in the market. Genomics is most commonly used for the diagnosis of cancer. Recent advancements in personalized medicine and genomics have bought significant transformations in disease management. 
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The growing use of genomics in several clinical trials is reflecting a growing trend. Consequently, the global market is expected to rise at an exponential CAGR of 18.7% between 2018 and 2026. In 2018, the market was valued at US$ 15,888.8 Mn and it is anticipated to reach US$ 62,614.6 Mn by 2026. The gradual shift from traditional medicine to precision medicine is positively changing the healthcare environment. Genomics plays a crucial role in the treatment and diagnosis of chronic diseases.    

Adoption of Advanced Technologies Renders North America Dominant

From a geographical standpoint, North America dominated the global genomics market in 2018. The region will continue to maintain its dominance through the forecast period. Rapid technological advancements and the presence of sophisticated healthcare infrastructure are driving the market in this region. In 2018, North America was valued at US$ 6,959.3 Mn. The demand for genomic medicine is increasing in North America on account of the rising adoption of personalized medicine and new sequencing technologies.

Europe is expected to display great growth potential owing to the wide availability of funds and the presence of large MNCs. Governments in England and the U.K. are increasingly making investments in research and development (R&D) activities to favour the expansion of the market in Europe.

The market in Asia Pacific is likely to witness strong growth during the forecast years. The primary factor responsible for the growth is developing healthcare infrastructure, which is increasing demand for biomarkers. The awareness about genomic technologies in increasing in countries such as India and China. People in these countries are becoming more aware with regards to the detection of genetic disorders, their treatment and prognosis. All these factors are enabling growth in the market.

A Myriad of R&D Activities Has Spurred Growth Prospects for Genomics Market

“Several services and start-up companies are paving their way into genomics industry by offering services which include ancestry services, customer genomics services, among others,” stated a lead analyst at Fortune Business Insights. “Rising support from governments regarding research and funding is expected to contribute to the growth of the market,” he added. Several genomic institutes are supporting the industry by granting funds for performing research and development activities. Stanford healthcare uses genomic information to develop a personalized treatment for patients suffering from chronic illness.

The demand for genetically modified plants and animals is increasing. This, coupled with lower costs of genetic procedures is likely to contribute to the development of the genomic market in the forthcoming years. Technological advancements in genomic medicine which include Next-generation Sequencing (NGS), Sanger sequencing, Polymerase Chain Reactions (PCR), and microarray are likely to drive the market. Of these, Polymerase Chain Reactions (PCR) covered the maximum share in the global market in 2018. 

The easy availability and extensive use of this technology are responsible for this segment’s growth. Owing to the increasing number of genetic studies, the demand for genomics is expected to fuel in healthcare facilities & diagnostic centers, Contract Research Organization (CROs) and others.

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Veritas Genetics Launched myGenome to Offer Personalized Services to its Customers

General Electric, Thermo Fisher Scientific Inc., Oxford Nanopore Technologies, Agilent Technologies, Inc., IntegraGen, QIAGEN, BGI, F. Hoffmann-La Roche Ltd, Danaher, and Illumina, Inc. are some of the leading players in the global genomics market. Among these, F. Hoffmann-La Roche Ltd, Agilent Technologies, Inc., and Illumina, Inc. are projected to dominate the global market. Strong geographical presence and robust portfolio are factors responsible for their prominent position in the market. Several companies are entering into strategic alliances to better their market position and increase revenue. 

Bristol Myers Squibb collaborated with Foundation Medicine in March 2017. This collaboration will help the former company to leverage the latter’s molecular information and genomic profiling solutions. Furthermore, it will help Bristol Myers to identify biomarkers such as Microsatellite Instability (MSI) and Tumor Mutational Burden (TMB) in cancer patients. Another company called 10X Genomics acquired an epigenomics-based startup called Epinomics in August 2018. This acquisition will help the company strengthen its market position.

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Thursday, January 2, 2020

Global Medical Robotic Systems Market to Exhibit 21.5% CAGR; Advent of Surgical Robots to Promote Growth, says Fortune Business Insights

The rise in number of health problems and the need to provide better medical assistance are boosting the global medical robotic system market. In a report, titled, “Medical Robotic Systems: Global Market Analysis, Insights, and Forecasts, 2019-2026,” Fortune Business Insights identifies various factors enabling growth in the market.

As per the report, the global medical robotic systems market is anticipated to reach US$ 10,710.6 Mn by 2026 from US$ 2,257.8 Mn in 2018. The forecast period is set from 2019 to 2026 and the market is anticipated to grow at a CAGR of 21.5%.

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"Introduction of Da Vinci Robots Helped Intuitive Surgical Robots Emerge as Leading Market Player"

Various companies operating in the global medical robotic systems market are investing huge sums in research and development for improved and upgraded features in robots. This is done with special focus on rehabilitation robots and surgical robots as the demand for both has increased due to their efficient performance in the past. Other company strategies for better revenue generation include merger and acquisitions, product upgrades, and launch of new robots that will not only assist humans for various medical procedures but also perform surgeries accurately. Currently, Intuitive Surgical Company is leading the global market owing to large number of installations of their Da Vinci Surgical robots.

Some of the companies operating in the global medical robotic system market are Smith & Nephew, Intuitive Surgical Inc., CYBERDYNE INC., Zimmer Biomet, Stryker, Ekso Bionics, BIONIK, Medtronic, and CYBERDYNE INC.

"Surgical Robots Segment to Lead Market with Increasing Prevalence of Neurological Disorders"

The rapid advancement in technology and its implementation in the medical sector has helped the surgical robots segment to emerge dominant, in terms of product. As per Fortune Business Insights, surgical robots segment accounted for 64.8% of the market share and is anticipated to continue its dominance in the coming years. Additionally, the increasing number of neurological disorder cases has propelled the demand for surgical robots, making it earn larger revenues.

"Introduction of Pharmacy Automation and Other Medical Robots to Propel Growth"

Change in lifestyle and rise in disposable income of people have not only resulted in irregular eating habits of people worldwide, but also has spurred the incidence of various diseases. These have propelled the healthcare industry to invest in advanced facilities required to provide proper medical assistance to the people in need. The rise in geriatric population and their vulnerability towards various diseases have resulted in high demand for complex treatment such as major surgeries, which further promotes the use of robotics into the medical industry. The aforementioned factors are boosting the medical robotic systems market.

Other factors promoting the growth of the global medical robot systems market are the increasing patient preference towards minimally invasive surgeries. Besides this, the accuracy offered by robots performing medical treatment is also boosting the market.

On the flipside, the market may face rough waters in terms of high cost of installation, upgradation, and maintenance. This may not be an option for the developing economies and may thus, restrict growth of the medical robotic systems market on a global basis.

Nevertheless, the accuracy level and efficiency of medical robots is improving by the day which, in turn, is boosting the market. Furthermore, the introduction of other medical robots such as pharmacy automation robots, and rehabilitation robots is bringing huge revenues to the market, that is anticipated to bring lucrative growth opportunities for the market in the forecast duration.

"North America to Continue Dominating Market with Increasing Preference for Minimally Invasive Surgeries"

Fortune Business Insights foresees the global medical robotic systems market to be dominated by North America on account of the higher adoption of advanced surgical robots from healthcare settings in developed economies such as Canada and the U.S. Additionally, the number of patients preferring minimally invasive surgeries is increasing in the region which makes it generate greater revenues. This is likely to continue in the coming years making North America continue its dominance in future.

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Monday, December 30, 2019

Wearable Medical Devices Market to Rise at 22.6%; Incorporation of IoT to Aid Growth

The global wearable medical devices market is likely to expand considerably in the coming years due to the incorporation of technologies such as the internet of things (IoT) and artificial intelligence (AI). According to a report published by Fortune Business Insights, titled “Wearable Medical Devices: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 22,630.7 Mn in 2018. Fortune Business Insights states that the market will reach US$ 114,983.2 Mn by 2026, exhibiting a CAGR of 22.6%.

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The rapid adoption of connected devices has created a subsequent demand for wearable medical devices across the world. The increasing incidence of chronic diseases has led to several innovations in healthcare delivery systems. The increasing demand for minimally invasive precision devices I fuelling the demand for wearable medical devices, globally. 

The advent of IoT-integrated devices has enabled companies to generate substantial wearable medical devices market revenue. IoT helps users keep track of monitored data and eliminates the need for hospital visits. The adoption of wearable devices is inclined towards the geriatric population. Subsequently, the growing geriatric population will create a massive platform for the growth of wearable medical devices market companies.

"Increasing Regulatory Approvals to Emerge as the Catalysts for Market Growth"

The soaring demand for wearable devices has resulted in approvals for several products by regulatory authorities, worldwide. As a result of several successful clinical trials, companies are constantly engaging in developing and manufacturing newer products due to the relaxation in product approvals in recent years. Fortune Business Insights has predicted that the increasing number of usage approvals will give significant impetus to the global wearable medical devices market. 

In May 2019, Nemaura bagged CE mark for a new wearable glucose monitoring device. The ‘SugarBEAT’ was a minimally non-invasive device and the efficacy of this device contributed to huge demand. Fortune Business Insights has predicted that an increasing number of regulatory approvals will prove a chief growth driver for the global wearable medical devices market in the coming years.

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"Mergers and Acquisitions to Constitute Substantial Growth"

The increasing number of mergers and acquisitions in recent years has offered massive growth opportunities to the companies involved, besides boosting the overall market. Mergers and acquisitions have enabled companies to generate a substantial amount of wearable medical device market revenue. The report highlights some of the most prominent collaborations between key market players. 

In July 2018, CeQur announced the acquisition of Johnson and Johnson’s insulin delivery patch. CeQur announced that it has acquired a worldwide license for Johnson and Johnson’s ‘Calibra’ and expressed its intention to expand globally. Fortune Business Insights states that this merger and acquisition will have a positive impact on the global wearable medical devices market in the forthcoming years.

The report profiles some of the leading companies operating in the global wearable medical devices market and analyzes the business strategies adopted by some of these companies. A few of the leading companies that are operating in the global market are Fitbit, Inc., Apple Inc., BD, Ypsomed AG, Sonova, Hologic Inc., AiQ Smart Clothing, NeuroMetrix, Inc., Siemens Healthcare GmbH, and SAMSUNG.

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