Healthcare 3D printing market to grow at a CAGR of 15.6% from 2014 to 2020

The global healthcare 3D printing market is estimated to grow at a CAGR of 15.6% from 2014 to 2020 on account of growing need for manufacturing automated products. Rising geriatric population and increasing healthcare requirements across the globe have been majorly driving demand. Rise in number of orthopaedic and cardiovascular disorders occurring prominently among the aged population have resulted in an increased demand for these printing facilities.

Healthcare 3D printing market provides significant opportunities for manufacturing various medical equipment including dental implants, prosthetic limbs, hearing aids and orthotic footwear. Government initiatives to develop healthcare infrastructure and rising investments for R&D are some of the factors driving growth. The ability of the technology to reduce the risks involved with anesthesia during prolonged surgeries has been another factor resulting in their increasing demand. The market is estimated to be worth USD 1.13 billion by 2020.

Polymers captured over 35% of the overall market share in 2013, dominating the raw material segment of the healthcare 3D printing industry. They are primarily used in bio-model printing.

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Ceramics are commonly used for manufacturing tooth or mandible (jaw bone). Increasing occurrences of tooth problems including fractures and decays resulting in replacement of crowns or entire teeth is expected to propel demand for biocompatible materials including ceramics. The market is expected to grow at a CAGR of 15.6% over the forecast period.

Implants accounted for over 60.0% of the global market share in 2013. They are not only cost effective but also provide accuracy which is expected to fuel demand. Customized orthopaedic implants increase performance as they reduce time duration of surgeries. Also, it is convenient and less expensive to tailor 3D printed parts. Dental printers provide metal and wax prosthetics. Rising consumer awareness regarding maintaining oral health is expected to bolster growth over the projected period.

Photo-polymerization technology is extensively utilized by research organizations to produce accurate and efficient bio-models. It was valued over USD 140.0 million in 2013 dominating the global industry. However, laser beam melting is estimated to grow at a CAGR exceeding 16% from 2014 to 2020, thus, becoming the fastest growing technology. It is mostly used for producing orthopaedic implants.

North America accounted for over 35% of the global revenue dominating the regional industry in 2013. Rising awareness among patients, mounting investments for dedicated R&D facilities, advanced healthcare infrastructure coupled with development of 3D printing-based products are expected to drive demand in the region over the forecast period.

Rising demand for customized medical equipments and huge investments in R&D programs in Europe are expected to make it the fastest growing market in the next few years. Increasing healthcare investments and expenditures in emerging economies of Asia Pacific are expected to drive demand at a rapid pace over a period of six years.

Prominent players in the industryinclude Envision TEC, Materialise NV, Stratasys Inc., 3D Systems Software, Organovo, Bio-Rad Laboratories, SOLS, Metamason, Simbionix, RegenHU Ltd., Youbionic, 3D Matters Pte Ltd., 3D Systems Corporation (3DS), Roche Pharmaceuticals, Ekso Bionics, Renishaw plc., Delcam India, Robohand, Worrell, Archam, ALD Vacuum Technologies and Rainbow Biosciences.

Artificial Urinary Sphincters Market Size Worth $643.4 Million By 2026

The global artificial urinary sphincters market size is anticipated to reach USD 643.4 million by 2026, expanding at a CAGR of 6.6%, according to a new report by Grand View Research, Inc. Increasing prevalence of urinary incontinence (UI), rising healthcare expenditure, and technological advancements in artificial urinary sphincters is anticipated to boost the market growth.

As per European Association of Urology, UI affects around 200 million people worldwide. Stress and urge incontinences are the major diseases affecting older women due to the hormonal changes during menopause. According to The Canadian Continence Foundation, the total cost of UI and fecal incontinence is around USD 4.0 billion annually. Artificial urinary sphincter is one of the safest and most reliable treatments for incontinence. In addition, in 2014, around 3.5 million people in Canada had suffered from some type of incontinence. Thus, increasing prevalence of UI is expected to drive the artificial urinary sphincters market growth.

Government spending on healthcare is increasing faster in developing countries than rest of the global economy. In the middle income countries, government per capita healthcare expenditure has doubled since 2000. According to the WHO, government spends around USD 60 on per person health in the lower middle-income countries whereas USD 270 in upper middle-income countries, which reduces inequities and stimulates economic growth.

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Further key findings from the report suggest:

Based on the brand, AMS 800 dominated the market in 2018 as it is highly durable, effective, and safe surgical option for the treatment of stress UI in males, and high satisfaction rate among men
The female segment is expected to exhibit the highest CAGR owing to increasing prevalence of UI and fecal incontinence, and increasing awareness about artificial sphincters among women
North America dominated the artificial urinary sphincters market with the highest revenue share in 2018 owing to increasing number of UI cases coupled with growing public awareness to prevent urinary diseases and favorable reimbursement framework in the region
The key players are introducing technologically enhanced products to gain competitive advantage in the industry. For instance, Boston Scientific launched AMS 800 Urinary Control System, to treat stress UI in males. This launch has enhanced Urology and Pelvic Health segment of Boston Scientific Corporation

Customer Relationship Management Market Worth $114.4 Billion By 2027

The global customer relationship management market is estimated to reach USD 114.4 billion by 2027, registering a CAGR of 14.2% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand for novel ways to analyze information, capabilities to aggregate data, and transforming it into better consumer experience is driving the need of customer relationship management (CRM) solutions across industries. Moreover, the merging of CRM, big data, and AI-powered analytics are likely to bridge the gap between customer expectations and company strategies for a better consumer experience.

Customer relationship management solutions have managed to exhibit an impressive adoption and growth rate in the last of couple of years despite over 20 years of market presence. This growth trend is attributed to numerous benefits of CRM suites, including operational efficiency, reduced cost of marketing, and the ability to complete sales cycle ‘on the go.’ Companies are now demanding access to customer data in real-time owing to the rapid proliferation of cloud and mobile solutions. Moreover, owing to increasing penetration of internet and smart mobile devices across the world, service providers are offering Bring Your Own Device (BYOD) solutions, which are expected to boost the customer relationship management solutions in the sales and marketing domain.

Digital optimization to maximize current processes with the help of data and predictive/prescriptive-enabled technologies to develop next best action recommendations using machine learning are becoming two primary drivers of investment and innovation in CRM solutions. For instance, in 2016, Salesforce launched myEinstein services to enable developers and system administrators develop custom AI application. Moreover, the rise in social CRM and mobility has also been driving the growth of a new genre of customer services and relationship management. Many service providers today are offering integrated solutions with various social media platforms such as Facebook, Twitter, and LinkedIn.

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Further key findings from the report suggest:

Considering the COVID19 pandemic crisis across the globe, the value of leveraging technology such as CRM is likely to grow and thrive in the years to come
The CRM analytics segment is anticipated to register the highest CAGR in the coming years owing to the application of artificial intelligence and machine learning along with growing integration of business intelligence and analytics in CRM software
Cloud was the most preferred way of deployment of the technology in 2019 and is predicted to maintain its dominance over the next eight years. Connected devices will play a vital role in the changing industry as the demand for mobile applications is increasing
The Small & Medium Enterprise (SME) segment is expected to be the fastest growing segment in coming years owing to increasing number of SMEs worldwide and their need to identify, prioritize, and minimize their business challenges
Discrete manufacturing is expected to be the fastest growing segment with the highest CAGR from 2020 to 2027 owing to better sales projection, efficient supply chain, and improved customer services
The Asia Pacific regional customer relationship management (CRM) market is expected to experience the highest growth over the forecast period, which can be attributed to the presence of emerging economies such as India and China, who possess large customer base across industry verticals
Customer relationship management market comprises of some prominent players such as Salesforce.com; Microsoft; Adobe; SAP; Oracle; SugarCRM; Zoho; Netsuite Inc.; Insightly Inc.; and Creatio. Large vendors are observed acquiring other players to consolidate their market share, and expand their existing portfolio.

Distributed Fiber Optic Sensor Market Size Worth $1.87 Billion By 2025

The global distributed fiber optic sensor market size is anticipated to reach USD 1.87 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.8% from 2019 to 2025. Factors such as significant demand from the civil engineering vertical and rising adoption in the oil and gas sector are projected to substantially boost the market growth. Fiber optics can withstand rough handling, such as in pipes, streams, and reactors, where manual inspection is not feasible. Furthermore, they help in structural health monitoring at dangerous workplaces and can also be used for border security purposes to prevent intrusion. Thus, the capability of Distributed Fiber Optic Sensors (DFOS) to work in challenging environment is another factor propelling the growth.

Increasing demand for sophisticated infrastructure coupled with rising per capita income is predicted to lead to industrial automation, urban mobility, and growth in high-end residential projects. Governments from around the world focus on conserving their existing infrastructure and developing new projects. They are under constant pressure to provide the necessary infrastructure, amenities, and connectivity to people. This has enabled increased spending on road, railway, and dam construction projects. This rapid growth in the advanced civil engineering is expected to boost the distributed fiber optic sensor market.

The rapid adoption of DFOS has encouraged investments in R&D activities by manufacturers and suppliers to launch new products. They are also focusing on optimizing their production process and regulating efficiency to curb all other alternatives of the fiber optics technology. Due to the high price of production and installation processes of DFOS products, the manufacturers are developing competitively priced optic inspection products that are more reliable. However, factors such as technological complexities and other challenges incurring in optical inspection process are hampering the market growth.

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Cloud computing market report highlights:

Temperature sensing application segment is expected to continue leading in terms of market size over the forecast period. Temperature sensors find application in oil and gas and civil engineering segments
Suppliers and manufacturers of fiber optic equipment are looking to achieving higher bandwidth, 100 GBPS, by undertaking intense research activities
North America dominated the global market in 2018 and is projected to account for the largest market share in terms of revenue in the forthcoming years
Growing demand for DFOS equipment can be attributed to the ever-growing demand for efficient and optimized processes, across enterprises and manufacturing sectors
Key market participants include Halliburton, Schlumberger Limited, Yokogawa Electric Corporation, OFS Fitel, LLC, Qinetiq Group PLC, Omnisens SA, Brugg Kable AG, Luna Innovations Incorporated, and AP Sensing GmbH

Integrated Passive Devices Market Size Worth $2.64 Billion By 2025

The global integrated passive devices (IPD) market is expected to reach USD 2.64 billion by 2025, according to a new study by Grand View Research, Inc. The growing demand for wireless, electronic, handheld devices is presumed to drive the market growth over the forecast period.

IPD, such as RF devices, facilitate efficient wireless communication and prevent loss of network signals. They are used across several applications including digital & mixed signals, RF transceivers, power amplifiers, MEMS, digital processors, and power management units. The growing penetration of these devices in wireless consumer market can be attributed to the high volume of customers adopting cellular phones and other IoT devices.

The applications of this technology in digital and mixed signals are fewer, but significant. The commercialization of an application is subject to its potential to comply with electrical performance and density requirements of conventional DC-DC converter modules and high-performance silicon digital interposer substrates.

Additionally, custom-designed IPD used in specialty and niche applications, such as GPS tracking and cellular encryption, are expected to drive the growth of the integrated passive devices market. In terms of materials, thin film products are expected to be the next-generation technology benchmarks as they enable higher densities and lower losses. The advancements in sophisticated packaging techniques have resulted in cost-effective IPD and have increased the scope for large-scale commercialization.

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Further key findings from the study suggest:

The EMS and EMI protection IPD segment dominated the overall market and accounted for over 9% of the market share in 2015. The growth was attributed to its application in wireless medical devices such as stimulators, cardiac pacemakers, and insulin pumps
The automotive end-use segment posed as a key segment and accounted for over USD 276 million of the overall industry revenue in 2015. The cost-effectiveness of IPD lead to their usage in automotive electronics applications such as electronic control Unit (ECU), intelligent headlights, and digital speedometers
The consumer electronics segment is expected to emerge as the fastest-growing segment with a CAGR of over 13% over the forecasted period, due to the increasing penetration of mobile phones
IPDs are presumed to gain traction in the healthcare segment, owing to their use in medical devices, such as pacemakers, enabling size reduction and low power-consumption in the devices
The LED lighting segment accounted for over USD 131 million of the overall integrated passive devices market in 2015, due to its growing adoption in commercial applications such as billboards, traffic signals, and glow signs. LED lighting consumes low power and facilitates the abovementioned applications
The RF IPD segment is expected to significantly contribute to the industry growth and accounted for over USD 806 million of the global industry revenue in 2015, owing to its extensive usage in POS terminals; thereby, contributing toward digital payment facilities
The key industry participants include STATS ChipPAC Ltd., ON Semiconductor, IPDiA, STMicroelectronics, Infineon Technologies AG, Amkor Technology, Inc., and TSMC Ltd.

Micro & Mechanized Irrigation Systems Market Worth $33.4 Billion By 2025

The global micro & mechanized irrigation systems market is expected to reach USD 33.4 billion by 2025, according to a new study by Grand View Research, Inc. The low cost of micro and mechanized irrigation products is expected to fuel the market growth over the forecast period.

The cost-saving benefits associated with micro and mechanized irrigation systems, such as chemigation and fertigation, further contribute to the demand for these products, especially in emerging economies. These systems cater to the need for effective farming techniques and are subsequently gaining traction across the globe.

The increasing focus on sustainable agriculture techniques is accelerating the implementation of micro and mechanized irrigation systems such as drips and sprinklers. Furthermore, technological proliferation has enabled micro irrigation systems to be controlled through connected devices such as mobile phones and tablets.

These devices enable remote access, thereby providing mobility and fostering user convenience. Large arable lands make the implementation of these systems more economical and profitable. The demand for these systems is high in the agricultural segment, gardens, public parks, and sports turfs.

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Further key findings from the report suggest:

The drip product segment dominated the overall market in 2015 and was valued at USD 2,878.3 million. Advantages such as cost effectiveness and low power requirements are significantly propelling the demand for drip irrigation products
Sprinkler products contributed remarkably to the industry growth and accounted for USD 2,060.4 million in 2015. The ability of sprinklers to displace water at large distances is boosting the adoption of these products
The agriculture application was estimated to be a key segment in 2015 and was valued at USD 3,346.6 million
Greenhouse is anticipated to emerge as the fastest growing segment with a CAGR of over 13% from 2016 to 2025
Orchard crops dominated the global crop segment and were valued at USD 2,873.6 million in 2015. These crops are widely grown in the Asia Pacific region and are exported in developed nations including North America and Europe
The landscape application segment was valued at USD 1,149.8 million of the micro and mechanized irrigation systems market in 2015
The key industry participants include Mahindra EPC Irrigation, Jain Irrigation Systems Ltd., Lindsay Corporation, Nelson Irrigation Corporation, Netafilm Limited, Rain Bird Corporation, Rivulis Irrigation, T-L Irrigation Co., The Toro Company, and Valmont Industries, Inc.

Medical X-Ray Generator Market Worth $2.07 Billion By 2024

The global medical X-ray generator market is expected to reach USD 2.07 billion by 2024, according to a new report by Grand View Research, Inc. The unprecedented shift in lifestyle associated habits coupled with increasing prevalence chronic diseases, is responsible for the rise in demand for accurate diagnostic tools, which is presumed to bolster the market growth. In addition, global geriatric population base that is highly susceptible toward developing these chronic diseases is anticipated to impel the demand for high resolution imaging systems. This high requirement is effectively addressed by use of the medical x-ray generators, thus presenting the market with high growth potential throughout the forecast period.

In addition, these devices lead to better patient outcomes, which include faster detection of disease conditions, and improved patient safety profile. These associated benefits are expected to increase the overall adoption rate of these medical x-ray generators over the coming years

Furthermore, technological advancements such modification of the design of computer-controlled x-ray generator interface with imaging system results in better synchronization of the overall imaging system with x-ray generators. This has resulted in application of medical x-ray generators in fluoroscopy, radiography, and angiography, thus widening the potential for growth during the forecast period.

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Further Key Findings from the Study Suggest:

Stationary medical x-ray generators held the largest share of over 68.0% in the product segment in 2015. The dominant share can be attributed to low costs, high stability, and durability associated with the device, which is responsible for the high adoption rate in hospital settings.
Cardiovascular segment held the substantial share of over 20.0% in the application segment in 2015. The aforementioned is primarily a consequence of increasing prevalence of cardiovascular diseases. In addition, high demand for mono energetic x-ray generators for cardiovascular imaging, owing to its appropriate and safe intensity of energy projections, is presumed to provide growth potential to the Medical X-ray Generator Market.
In 2015, North America held a substantial share of the overall Medical X-ray Generator Market at over 30.0%. The presence of government regulatory authorities, consistently striving toward high patient safety is a significant factor that is presumed to be responsible for the largest market share of this region.
Furthermore, frequent product launch by prominent market players in the U.S. is presumed to be responsible for its largest share. For instance, In June 2015, Spellman High Voltage Electronics Corporation launched new range of radiography generators, Z series X-ray Generators. The product was launched at a relatively lower cost to cater to mid-tier medical radiography and veterinary imaging segments.
Some key players are increasingly involved in entering into collaborations and product launches to garner a larger share. For instance, in April 2015, Emd Technologies, Inc., launched a new range of EPS Unipolar High-Voltage Generators in the area of the mammography radiology segment. Moreover, in March 2015, Spellman announced to expand x-ray source product portfolio, through the launch of Monoblock x-ray sources with the introduction of XRBC Monoblock series.

Medical Digital Imaging Systems Market Worth $26.43 Billion By 2025

The global medical digital imaging systems market size is estimated to reach USD 26.43 billion by 2025, according to a new report by Grand View Research, Inc., experiencing a CAGR of 7.7% during the forecast period. Growing demand for advanced imaging solutions with minimal errors and faster results is likely to drive the market during the forecast period. Expanding applications of medical digital imaging in preventive healthcare is poised to contribute to the growth of the market.

Some of the causes of chronic diseases are unhealthy diets, sedentary lifestyles, tobacco and alcohol consumption, and biological factors including dyslipidemia, hypertension, obesity, and hyperinsulinemia. Rising prevalence of various chronic diseases is projected to augment the medical digital imaging market during the forecast period.

Governments of countries such as U.S., U.K., India, and Canada are undertaking initiatives to boost the market. These initiatives are in various forms such as declining import duties for devices, providing favorable policies, and educating physicians & medical imaging device operators. The demand for diagnostic techniques has been increasing in the past few years owing to technological advancements in the field of diagnostics and rising awareness among people regarding early diagnosis of diseases.

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Further key findings from the report suggest:

Increased per capita income and medical tourism in Asia Pacific are boosting the adoption of diagnostic imaging devices. The region is anticipated to rise at the highest CAGR over the forecast period
Market players such as GE Healthcare, Toshiba, and Philips Healthcare launched new CT systems that use microelectronic circuits, which reduce the noise created by the device and enhance image quality
Some of the key players operating in this market are Siemens Healthcare, Hitachi, GE Healthcare, Koninklijke Philips, Canon Medical Systems Corporation, Hologic, Medtronic, and Shimadzu Corporation
Regional & service portfolio expansions and mergers & acquisitions are among the key strategies adopted by these players to gain a higher market share.

Heart Attack Diagnostics Market Worth $15.4 Billion By 2024

The heart attack diagnostics market is expected to reach USD 15.4 billion by 2024, according to a new report by Grand View Research, Inc. The heart attack diagnostics market is anticipated to witness a lucrative growth during the forecast period from2016 to 2024. From 2001 to 2011, age-standardized, heart attack incidence rates have significantly decreased worldwide. However, the overall risk factors and the disease burden remains large, thereby rendering the heart attack diagnostic sectors a profitable growth prospect. This growth is attributed to a majority of factors, such as high prevalence of coronary heart diseases, increased tobacco smoking, and obesity, enhanced adoption of unhealthy diet is resulting in a high cholesterol incidence in individuals, particularly in the rising geriatric population. However, the low Medicare reimbursement provided for the mobile cardiac outpatient telemetry electrocardiogram (ECG) and the progressively declining heart attack incidence rates are expected to hamper the market growth.

The heart attack diagnostics market has been classified by product into electrocardiogram, which measures the electrical activity of the heart; echocardiogram, a form of ultrasound test that provides images of the heart; blood tests that measure the expression of certain proteins in excess, such as troponin levels, and cardiac enzymes; and other diagnostic products. The ECG segment is expected to witness a significant growth rate in developing countries, owing to the technological advances coupled with increasing applications of ECG. Although, the increasing demand for cost effective, rapid blood tests such as troponin and Creatine Kinase MB Isoenzyme (CK-MB) is likely to acquire major market share in the near future. The key countries landscape included in the report are U.S., Canada, Germany, UK, China, India, Brazil, Mexico, South Africa, and Middle East. The Asia Pacific region is anticipated to be the fastest growing region during the forecast period. On the other hand, North America is estimated to dominate the global heart attack diagnostics market.

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Further key findings from the study suggest:

North America is estimated to dominate the global heart attack diagnostics market. The increasing awareness about heart attacks, its causative and risk factors, and enhanced uptake and acceptance of technologically advanced diagnostics is expected to contribute to the market growth.
The Asia Pacific region is expected to be the fastest growing region during the forecast period. to The reason being the considerably large burden of heart diseases in certain developing regions, such as in India, where 2.4 million people die annually due to heart diseases. As a result of the soaring incidences of heart diseases, an urgent requirement to undertake awareness measures and incorporate advanced diagnostics is expected to fuel the market growth.
The troponin blood test type is the largest grossing segment and is expected to capture the largest share in 2015, especially in developing countries including Brazil, China, and India. Its applications as a cardiac monitoring device and its indispensable use as a heart attack diagnostic tool will be a contributing factor supporting the market growth. The industry comprises of several local as well as global players. Some of the major players of this industry include Siemens Healthcare GmbH, Schiller AG, GE Healthcare, and Hitachi Medical Systems.

Exoskeleton Market Size Worth $4.2 Billion By 2027

The global exoskeleton market size is anticipated to reach USD 4.2 billion by 2027, expanding at a CAGR of 26.3% over the forecast period, according to a new report by Grand View Research, Inc. Growing adoption of exoskeletons in healthcare and non-healthcare settings, reimbursement coverage offered on these systems, and increasing prevalence of spinal cord injuries (SCIs) are the key factors driving the market. Moreover, development in robotics and growing demand for customized exoskeleton that addresses the specific needs of the patients is anticipated to fuel the growth over the forecast period.

Based on technology type, in 2019, mobile exoskeleton dominated the global market, accounting for a revenue share of 61.8%. Introduction of innovative mobile exoskeleton by manufacturers for the aging and disabled population is a key factor driving the market. However, mobile systems are complicated and expensive to design, which increases their cost. This is compelling the patients to switch to the stationary systems, thus making stationary systems the fastest growing segment in the market.

On the basis of technology drive type, in 2019, electric actuators dominated the global exoskeleton market with a share of 32.1% in terms of revenue, as they are cost-effective in comparison with the other drive types. Moreover, presence of a wide variety of commercialized electric actuators is fueling the growth of this electric actuators segment. Usage of fuel cell-powered exoskeleton is increasing in military applications as they provide longer operation hours. This is anticipated to drive the fuel cell segment over the forecast period.

North America dominated the global market in 2019, generating a revenue of USD 297.8 million. Increasing investments in robotics, growing geriatric population, favorable reimbursement policies, and availability of funding for various projects are anticipated to drive the regional market over the forecast period. Asia Pacific is expected to exhibit the fastest CAGR owing to growing geriatric population, improvement in the healthcare infrastructure, and increasing investments in robotics in countries, such as Japan, China, and India.

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Further key findings from the report suggest:

The global exoskeleton market size is anticipated to reach USD 4.2 billion by 2027 owing to rising applications of these products in healthcare and non-healthcare settings
Based on technology type, mobile exoskeleton accounted for a major share of 61.8% in 2019 owing to introduction of innovative mobile systems for various industrial applications
On the basis of technology drive type, electric actuators dominated the global market with a revenue share of 32.1% as they are cost-effective than other drive types
North America dominated the market with a value of USD 297.8 million in 2019 owing to availability of favorable reimbursement policies and increasing investments in robotics
Some of the key players operating in this market are Ekso Bionics, Cyberdyne, ReWalk Laboratories, REX Bionics, and Suit X.