Medical Devices Reimbursement Market Worth $1169.8 Billion By 2027

The global medical devices reimbursement market size is expected to reach USD 1169.8 billion by 2027, expanding at a CAGR of 10.4%, according to a new report by Grand View Research, Inc. The rising number of regulatory reforms and increasing efforts of healthcare providers to reduce costs and improve the quality of medical equipment are anticipated to propel the market growth. Medical device reimbursement is defined as the payment, a third-party private or public insurer pays to a healthcare provider for the cost incurred while using healthcare equipment.

The major factors fueling market growth are growing dependence on remuneration, increasing prevalence of chronic diseases, and growing preventive care. Rising focus on early diagnostics and preventive care may in turn lead to higher activity within the diagnostic device industry, thus promoting more remuneration share from them. For instance, a fundamental paradigm shift towards incentivizing early diagnosis through remuneration is noticed across developed economies, such as screening for breast cancer.

With the increasing demand for healthcare equipment, the remuneration services are expected to provide various opportunities for healthcare industries to poach upon. Additionally, an increasing number of people pursuing insurance and consolidation of the healthcare system are the major factors fueling the market.

North America held the highest revenue share of about 50.0% in the market in 2019 and is expected to maintain its dominance over the forecast period. Increasing adoption of healthcare devices reimbursement and raising awareness with regards to cost implications are expected to drive the market in the region. In addition, rising demand for healthcare equipment and an increasing number of healthcare centers is expected to drive the market in this region. With increasing chronic diseases, the demand for healthcare equipment is also increasing. As per the National Health Council Report, around 157.0 million people will suffer from multiple chronic conditions until 2020. Due to these reasons, the market is expected to show significant growth over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/medical-devices-reimbursement-market

Further Key Findings From the Study Suggest:

  • The private player segment dominated the market with a share of 64.7% in 2019 due to the presence of a large number of private players
  • The hospitals segment dominated the market with a share of 49.6% over the forecast period due to recent technological developments and high patient footfall requiring the use of healthcare equipment
  • North America is expected to dominate the market over the forecast period owing to strong reimbursement framework
  • The market in Asia Pacific is projected to witness rapid growth during the forecast period owing to rising penetration of insurance services in rural and urban areas.

Dental Adhesives And Sealants Market Size Worth $6.1 Billion By 2027

The global dental adhesives and sealants market size is expected to reach USD 6.1 billion by 2027, expanding at a CAGR of 18.9%, according to a new report by Grand View Research, Inc. The high demand for dental restorations, an increase in the geriatric population and road accidents, and the wide product range are expected to propel market growth over the forecast period. In addition, technological advancements in dental materials are also expected to increase adoption, thereby contributing to market growth.

The introduction of advanced dental sealants by market players are anticipated to dominate the market strategies adopted for growth. For instance, 3M introduced ‘Clinpro’ sealant which changes its color from pink to off-white upon exposure to light. This color change technology not only improves the accuracy of sealant placement but also aids in determining the amount to be placed. The user-friendliness of such technologies is expected to increase the usage and demand for thin plastic coatings among dentists.

Furthermore, the increasing influence of social media coupled with globalization has led to the convergence of concepts related to beauty, especially those concerning facial features. This has led to a rise in demand for dental cosmetic procedures such as tooth whitening, tooth bonding, and dental veneers, which is anticipated to support market growth. Furthermore, the rapidly aging population in countries such as Japan, the U.K., Germany, and the U.S. are anticipated to increase the requirement of dentures and related products.

North America accounted for the highest market share in 2019 owing to favorable reimbursement framework, growing prevalence of oral diseases, and high demand for cosmetic dentistry in the country. In addition, the presence of major players in the region also contributed to market growth.

In Asia Pacific, the market is anticipated to witness the highest CAGR over the forecast. The growth of the market in the region is attributed to growing awareness regarding oral health, increasing the aging population, and rising cases of tooth decay due to changing lifestyles.

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https://www.grandviewresearch.com/industry-analysis/dental-adhesives-sealants-market

Further key findings from the report suggest:

  • By product, the adhesives segment held the largest market share in 2019 owing to high product availability and demand for cosmetic dentistry
  • Restorative adhesives held the largest market share of 58.0% in terms of revenue in 2019 owing to their broad applications and the presence of a broad product portfolio in the market
  • The resin-based sealant segment accounted for the largest revenue share in 2019 due to the high adoption of these products among dentists
  • In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the growing geriatric population and increase in oral health awareness in the region.

Corneal Implants Market Worth $641.41 Million By 2027

The global corneal implants market size is anticipated to reach USD 641.41 million by 2027 registering a CAGR of 6.5%, according to a new report by Grand View Research, Inc. Rising prevalence of corneal diseases, such as keratoconus, Fuchs dystrophy, and infectious keratitis, is the major factor driving the market growth.

The gap between demand and supply is also expected to boost the market growth in the long run. Various programs spreading awareness about the importance of corneal donation are also likely to support market growth. Moreover, many European countries are adopting “opt-out” policy for organ donation to meet the growing demand for corneal grafts.

Increasing number of R&D activities related to corneal implants is expected to foster the market growth over the forecast period. Bioengineered cornea, 3D printed cornea, and stem cells therapy are few of the topics gaining attention from the stakeholders.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/corneal-implants-market

Further key findings from the study suggest:

  • Based on type, human cornea segment held the largest market share in 2019 and is estimated to retain its dominant position throughout the forecast period
  • Lack of accessibility, shortage of human corneas, and rising number of graft rejection cases are factors expected to drive the segment growth
  • Based on end user, the hospital segment held the largest market share in 2019 and is expected to have a significant growth rate over the forecast period
  • North America holds the largest market share in the global market. U.S, is one of the major suppliers of corneal Implant globally
  • Asia pacific are expected to witness the fastest CAGR over the forecast period due to rising demand for corneal implants in countries, such as China, Indonesia, and Philippines
  • Endothelial keratoplasty segment is expected to register the fastest CAGR from 2020 to 2027 owing benefits, such as faster and better visual restoration with decreased risk of infection and accidents to the eye surface
  • Based on application, Fuchs Dystrophy segment held the largest market share in 2019 and is expected to register the fastest CAGR from 2020 to 2027
  • This growth can be attributed to the factors, such as rising adoption of minimally invasive surgical procedures and high prevalence of the disease

Surgical Light Market Size Worth $2.2 Billion By 2026

The global surgical lights market size is expected to reach USD 2.2 billion by 2026, registering a CAGR of 4.6% during the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for latest technologies to provide patients the best possible care coupled with rising number of surgical procedures around the globe is expected to fuel the growth.

Surgical lights are mainly used in Ambulatory Surgery Centers (ASCs) and hospitals. They are used by surgeons, clinicians, and proceduralists for optimal visualization during a medical procedure. The lights can also be used in emergency rooms, labor and delivery, and examination rooms. A rise in the number of surgeries due to the high prevalence of cardiovascular diseases, neurological disorders, and accidents and trauma cases is anticipated to drive the demand for surgical lights in the forthcoming years. According to a 2016 report of the World Health Organization (WHO), the number of surgeries increased by ~40% from 2004 to 2012.

North America and Europe have led the surgical light market in terms of both the revenue and volume share, owing to the availability of a large number of advanced and progressive healthcare facilities and growing number of ambulatory surgery centers in the regions. In Asia Pacific, the adoption of surgical lights is rising at a significant rate, due to increasing number of well-equipped healthcare facilities in the region.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/surgical-lights-market

Further key findings from the study suggest:

  • Hospitals and ambulatory surgical centers prefer LED surgical lights due to advantages over halogen lights, such as energy-efficiency, less energy consumption, and longer shelf life
  • Government initiatives for promoting the adoption of energy-efficient surgical lamps in hospitals and ambulatory surgical centers along with increasing R&D efforts for advancements in surgical lights is driving the market
  • North America dominated the market with the largest revenue share of 38.7% in 2018. This is due to the increasing number of ambulatory surgical centers for outpatient surgical procedures and growing trend for hybrid operating rooms in U.S.
  • Asia Pacific is expected to witness the fastest CAGR of 6.4% over the forecast period. Improvement of healthcare infrastructure is attributed to the increasing demand for surgical devices, equipment, and accessories
  • Few of the surgical lights market players are STERIS plc; A-dec Inc.; BihlerMED; CV Medical; SKYTRON; Herbert Waldmann GmbH & Co. KG; Getinge AB; Hill-Rom Services; S.I.M.E.O.N. Medical GmbH & Co. KG; and Integra LifeSciences Corporation

Plant Biotechnology Equipment Market Worth $18.35 Billion By 2025

The global plant biotechnology equipment market size is estimated to reach USD 18.35 billion by 2025, according to the new report by Grand View Research, Inc. it is likely to expand at a CAGR of 12.8% over the forecast period. High demand for transgenic crops and biofuel is driving the market growth. Demand for transgenic crops has been rising owing to various benefits, such as improvement in yield, productivity, and quality of output and development of insect-resistant cultivars in crops.

In transgenic plants, one or more species are introduced in the genome using genetic engineering processes. Inserting a combination of genes in a plant makes it more productive. Transgenic plants are also produced to cater to the particular needs of the pharmaceutical sector. The advent of various genetic engineering processes is expected to drive market growth over the forecast period.

Advanced techniques, such as next-generation DNA sequencing, can be availed by breeders to boost the rate of genetic improvement by molecular breeding. Plant cell culture methods can also be used for enhancing food grain quality and increasing food production. These methods are also useful for postharvest applications of food materials. Plant biotech equipment, such as plant phenotyping equipment, cell culture equipment, and smart farm equipment, can play an instrumental role in these methods.

Advances in biotechnology and the rising use of biotech equipment for biofuel production are anticipated to further drive the growth of the plant biotech equipment market over the forecast period. Biofuel is gaining popularity due to rising crude oil prices and uncertainty in fuel supply stemming from depleting natural resources. Biofuel is considered as one of the alternatives to fossil fuels owing to its various benefits.

Biofuel can be produced domestically, can be cheaper than fossil fuels, and is also environment-friendly. Technological challenges associated with biofuel production can be addressed using biotech solutions and equipment, which in turn, is expected to boost the demand for plant biotech equipment over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/plant-biotechnology-equipment-market

Further key findings from the report suggest:

  • Rapidly rising global population has boosted demand for agricultural produce
  • Advances in technology coupled with increasing government funding have enabled the plant biotechnology industry to grow at a significant growth rate in recent years
  • Agriculture sector has witnessed tremendous developments in terms of advanced technologies in recent times. Usage of electronic sensors, smart devices, and other biotechnological methods have transformed conventional farming into innovative and sustainable farming
  • Benefits, such as high-quality crops and increased yield, facilitated by biotech equipment are expected to drive the growth of plant biotech equipment market over the forecast period
  • Advancements in imaging techniques are facilitating a better assessment of plant characteristics, thereby helping in developing better plant breeds.

Mining Automation Market Size Worth $6.2 Billion By 2025

The global mining automation market size is expected to reach USD 6.2 billion by 2025 at a CAGR of 7.3% during the forecast period, according to a report by Grand View Research, Inc. Increasing need to enhance accuracy and productivity of mining operations is expected to drive market growth.

Need for optimizing production costs, reducing human intervention, and changing the mining landscape are key growth-driving factors for the market. Increasing investment in digital technologies, including analytics and human-machine interactions, is also expected to be one of the key factors boosting industry growth. Furthermore, complex stages involved in supply chain activities and growing sophistication in mining operations are driving the need for automation and robotics technology in this sector.

Growing automation has led to adoption of drones as a step toward the evolution of unmanned and aerial data collection technology in mines. Automated drone systems are expected to become an essential technology in future mining automation and digitization activities.

Several companies such as Tata Steel, Rio Tinto Group, and Komatsu Ltd. are the early adopters of drone technology. Usage of these systems enables quick data collection by enhancing accuracy in designing mine plans and making necessary changes, thereby boosting operational productivity.

Changing mining landscape across the globe along with dependence on specific technologies is expected to create growth opportunities over the next few years. Such changes in operations are challenging the viability of traditional exploration and drilling technologies and processes, thereby providing opportunities for the adoption of new technologies.

Rising need for Geographic Information Systems (GIS) in mineral exploration activities has boosted market growth. GIS enables professionals to perform in-depth analysis of insights related to mineral exploration, mining conditions, and geochemical or hydrological data.

Several economies including India, Africa, and Brazil lack the potential for growth owing to use of conventional exploration techniques and equipment. Increased need for exploration in these economies with the adoption of advanced technologies is expected to accelerate demand for automated solutions over the forecast period.

Rising investments and government support, along with ongoing initiatives such as Digital Transformation Initiative (DFT) for a digital transition in the mining sector, would significantly boost the adoption of automated solutions. For instance, in 2017, the Government of Australia announced its plans to invest approximately USD 79 million to encourage medium- and small-sized miners to carry out exploration activities.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/mining-automation-market

Further key findings from the report suggest:

  • The equipment automation segment is projected to expand at a CAGR of 7.5% over the forecast period. Retrofitting existing equipment with automated technology is expected to substantially contribute to segment growth
  • The autonomous trucks sub-segment is expected to dominate the equipment automation segment over the forecast period, on account of their increased deployment to boost productivity and safety
  • The metal mining application segment is expected to grow at a significant rate over the forecast period, which can be attributed to increased gold exploration activities globally
  • The revenue share of Asia Pacific is expected to surpass 40.0% by 2025, owing to growing penetration of automation solutions in economies including Australia and India
  • Prominent market players include Rockwell Automation, Inc.; Komatsu Ltd.; Rio Tinto Group; and Caterpillar Inc.
  • Increased investments in developing automated solutions by either launching new products or retrofitting existing equipment are some of the growth strategies adopted by key players.

North America Smart Trash Bin Market Size Worth $12.3 Million By 2025

The North America smart trash/garbage bin market size is estimated to reach USD 12.3 million by 2025, according to the new report by Grand View Research, Inc., expanding at a CAGR of 6.9% during the forecast period. The smart trash bins considered under the scope of the study refers to the automatic garbage bins. These touchless trash cans are sensor-based and are capable of operating without making any physical contact. The market formulated estimates the market sizing & forecasts for the automatically operated touchless garbage/trash/waste bins.

Regional manufacturers of smart trash cans are investing aggressively in product development to incorporate innovative solutions into their product portfolio. They are targeting consumers by offering attractive touchless waste disposal solutions to create lucrative opportunities for expansions. The 14 to 23 gallon capacity segment accounted for the largest market share in 2017. Availability of smart trash bins in several variants under this category and significant adoption of these products across the commercial sector is contributing to the growth of the segment.

Demand for touchless garbage bins in North American countries, particularly the U.S., has witnessed a significant growth over the past few years to generate substantial revenue. The U.S. is anticipated to continue leading the North America touchless trash bin market over the forecast period on account of growing demand for automatic garbage bins in line with the increasing awareness about hygiene and cleanliness to avoid cross-contamination of germs.

The commercial subsegment dominated the North America smart garbage bins market in 2017 The commercial end use of automatic garbage can encircles the use of touchless garbage bins in corporate offices, retail shops, hotels, restaurants, hospitals, clinics, and other public places, which include malls, multiplexes, restrooms, airports, and bus & metro stations. The demand for touchless waste bins from the residential sector is also anticipated to escalate significantly over the next seven years in line with the expanding popularity of the automatic trash bins among the residential sector, modernizing lifestyle of families, and growing awareness about maintaining clean and tidy surroundings and hygiene.

The North America region can be considered as the manufacturing hub of the automatic garbage bins, as it is the homeland to the prominent manufacturers and suppliers, such as iTouchless Houseware & Products, Inc. (U.S.), Nine Stars Group (USA) Inc., simplehuman (U.S.), Walmart, and Costco Wholesale. Moreover, these manufacturers are supplying their product worldwide through various e-commerce platforms by collaborating & partnering with the eminent e-commerce players. Hence, the e-commerce and online shopping are expected to have a positive impact on the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/north-america-automatic-touchless-garbage-bin-market

Further key findings from the report suggest:

  • The 8 to 13 Gallon subsegment is anticipated to portray substantial growth over the forecast period.
  • The residential end-use sub-segment is projected to witness the highest CAGR over the forecast period.
  • The U.S. market dominated the overall North America regional market in terms of revenue as well as shipments.
  • The increasing awareness about maintaining a hygienic lifestyle and avoiding cross-contamination of germs is prompting households to adopt modern and advanced appliances, including touchless garbage bins.
  • The convenience of hands-free operation while disposing the waste without spilling is driving the North America smart garbage bin market
  • Key industry participants include Ausko Pte Ltd. (Singapore), Nine Stars Group (USA) Inc. (U.S.), iTouchless Housewares & Products, Inc. (U.S.), simplehuman (U.S.), and HANGSHAU Houseware Co., Ltd. (China).

Payment Security Market Worth $43.76 Billion By 2025

The global payment security market size is expected to reach USD 43.76 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 12.3% during the forecast period. Rising need for PCI DSS (payment card industry data security standard) compliance and adoption of digital payment mode by consumers are likely to stoke the growth of the market. The payments industry is going through a movement of infrastructure transformation, which is essential to compete efficiently with non-bank trendsetters and address progressing customer requirements.

Over the past few years, major economies have modernized their payment infrastructures and many others are scheduling to upgrade. Digital payments aid merchants in maintaining continuous compliance with PCI DSS, which is further anticipated to bolster the growth of the payment security market. In March 2015, Worldpay noted over 133,000 fraudulent transactions reported, which interpreted stolen card details being used every 20 seconds. Thus, payment security providers help its customer’s systems to protect itself from threats and aim to provide secure businesses by getting them to comply with PCI DSS. Therefore, the payment security market is estimated to be driven by the adoption of PCI DSS compliance.

Fraud detection and prevention solutions hold the largest share in the overall market. These solutions provide various fraud analytics solutions such as big data and predictive analytics. Big data and predictive analytics helps to detect and avoid frauds.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/payment-security-market

Further key findings from the report suggest:

  • The global payment security market had a valuation of USD 15.79 billion in 2017
  • Encryption platform emerged as the fastest growing segment over the forecast period
  • Large enterprises represented the leading segment in terms of organization in 2017 and are projected to generate revenue over USD 29.80 billion by 2025
  • The education market is poised to witness the highest CAGR of 13.4% over the forecast period
  • North America was the leading revenue contributor in 2017. Rising number of startups in the retail industry and presence of prominent payment security providers in the region is expected to drive the North America payment security market
  • Key players include Braintree, CyberSource, Ingenico, and Index among others. These players commanded the leading revenue share in the market in 2017.

Antibody Production Market Worth $22.6 Billion By 2025

The global antibody production market size is expected to reach a value of USD 22.6 billion by 2025, at a CAGR of 13.5% according to a new report by Grand View Research, Inc. Increasing demand for therapeutic antibodies including monoclonal and polyclonal antibodies is a major factor that drives the growth of the market during the forecast period. Antibodies are the dominant biopharmaceuticals that specifically target the abnormal cells. Thus, many pharmaceuticals and biotechnology companies have begun to focus on the development of advanced antibodies for the treatment of chronic diseases such as cancer, rheumatic heart disease, and arthritis.

Patent expiry of several blockbuster monoclonal antibodies in the near future is another major factor supporting market growth. Several antibodies such as Avastin, Herceptin, and Mabthera are going to lose their patents in a few years. For instance, the patent of Herceptin (trastuzumab) expired in Europe in July 2014 and will expire in the U.S. in June 2019. Many companies such as Amgen Inc., Synthon, Biocon, and Pfizer Inc. are developing biosimilar for trastuzumab, which is expected to propel the demand for antibody production products.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/antibody-production-market

Further key findings from the study suggest:

  • Downstream processing was the largest revenue-grossing segment of the antibody production market in 2016. It is also expected to exhibit the highest CAGR during the forecast period, owing to the large application of chromatography devices and resins in downstream processing
  • The monoclonal antibody segment was leading in 2016, due to its higher demand in treatment of chronic diseases including cancer, blood disorders, and growth hormone deficiency
  • The pharmaceutical and biotechnology companies segment dominated the overall market in terms of revenue in 2016, owing to the large production of therapeutic antibodies and high investment in R&D by companies for drug development
  • North America was the largest revenue-generating region of the market in the year 2016. This region is expected to maintain its position during the forecast period because of the presence of several leading biopharmaceuticals and biotechnology companies in this region
  • Asia Pacific region is projected to be the fastest-growing segment over the study period, due to rapidly booming biotechnology industry and comparatively less stringent regulations for biologics development in APAC region
  • Some of the key players include GE Healthcare; Thermo Fisher Scientific, Inc.; Sartorius AG; Merck KGaA; Pall Corp.; Eppendorf AG; Cellab GmbH; INTEGRA Biosciences AG; and FiberCell Systems Inc.

Nuclear Medicine Equipment Market Size Worth $2.7 Billion By 2025

The global nuclear medicine equipment market size is expected to reach a value of USD 2.7 billion by 2025, according to a new report by Grand View Research, Inc. Nuclear medicine involves the utilization of radiation to diagnose diseases or treat them. It also involves determining whether specific organs are functioning normally. Over a stretch of the last two decades, rapid technological advancements in nuclear medicine have transformed the medicine practice.

With growing awareness about the importance of early diagnosis of chronic diseases, there has been a noticeable increase in diagnostic nuclear medicine procedures worldwide. This is evident from stats generated from developing countries, which represents about 26% of the world population. These countries conduct diagnostic nuclear medicine tests at a rate of 1.9% per year. In addition, in developed countries such as the U.S., the frequency of nuclear medicine procedures ranges to about 20 million per year. It is evident that the frequency of use of nuclear medicine and procedures involving radiopharmaceuticals in diagnosis is growing at over 10% per year, indicating a rise in adoption of nuclear medicine equipment worldwide. However, high cost associated with nuclear medicine equipment and insufficient reimbursement support for radiology is expected to hinder the growth of the market. In addition, a growing trend of purchasing refurbished systems for cost saving is expected to affect equipment sales of existing market players.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/nuclear-medicine-equipment-market

Further Key Findings From the Study Suggest:

  • The North American market is expected to register lucrative growth owing to increasing preference for SPECT and PET scans for diagnosis of chronic diseases
  • Growing awareness and government initiatives pertaining to usage of radiopharmaceuticals in the North American region is expected to boost usage rates. For instance, in December 2016, the FDA issued new guidelines to enforce FDA’s proposed policies regarding compounding and repackaging of radiopharmaceuticals for human use in the U.S.
  • Oncology accounted for the largest market share in application segment in the year 2015 owing to the increasing incidence and prevalence of cancer worldwide
  • Asia Pacific market is expected to witness significant growth owing to Japan, China, and India where use of nuclear medicine is increasing at a fast pace. In addition, the usage of radioimmunotherapy-based targeted cancer treatment to counter incidence of cancer and cardiovascular diseases is aiding in the growth of the market
  • Some of the leading vendors operating in the nuclear medicine equipment market are GE Healthcare; Siemens Healthineers; Philips Healthcare; and Toshiba America Medical Systems.
  • The key players are focused on expansion & penetration opportunities in developing and emerging economies to achieve sustainable growth in the market