Paper Diagnostics Market Worth $10.50 Billion By 2025

The global paper diagnostics market size is estimated to reach USD 10.50 billion by 2025, according to a new report by Grand View Research, Inc, rising at a CAGR of 8.0% during the forecast period. Increasing prevalence of diseases such as cancer, autoimmune diseases, and inflammatory diseases is one of the key factors expected to fuel the demand for novel and rapid diagnostics techniques, thereby driving the market during the forecast period. For instance, as per the American Cancer Society, in 2018, around 1.7 million new cancer cases are likely to be diagnosed and 609,640 individuals are poised to die due to cancer. The number of cancer cases is projected to rise by around 70.0% over the next two decades. This trend is anticipated to help the market gain momentum during the forecast period.

Rising R&D investments, technological advancements, and new product launches are the key growth strategies incorporated by companies to cater to rising needs. ARKRAY Inc.; Acon Laboratories, Inc.;Abbott; Bio-Rad Laboratories; Siemens healthcare; Abcam Plc; and Abingdon Health are some of the players focusing on new product development by rising R&D investments. For instance, in March 2017, ARKRAY Inc. launched saliva testing system, capable of measuring cariogenic bacteria, acidity & buffer capacity, occult blood, leukocyte & proteins, and ammonia from saliva. Moreover, in May 2017, ACON Laboratories, Inc. received U.S. FDA approval for its “Mission Urine Reagent Strips” for detection of Microalbumin and Creatinine.

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https://www.grandviewresearch.com/industry-analysis/paper-diagnostics-market

Further key findings from the report suggest:

Introduction of technologically advanced paper based diagnostic products, which offer sensitive and rapid results, is estimated to boost market growth over the forecast period
Development of paper-based ELISA for detection of autoimmune antibodies in body fluid is expected to bolster the demand for technologically advanced & upgraded lateral flow assays over the forecast period
Lateral flow assays held a significant share in the market in 2017, owing to wide application in disease diagnostics and associated advantages such as robust & rapid results, sensitivity, ease of use, and cost efficiency
Paper based diagnostic devices are widely used as point-of-care diagnostics. Increasing inclination towards these devices can be attributed to advent of wax patterning technology, facilitating greater flexibility and adaptability
In terms of application, the clinical diagnostics segment is likely to witness lucrative growth during the same period. Rising awareness regarding their benefits such as improved control and rapid results and growth prospects in area of nanomaterial & biomolecules are contributing to the growth of the segment
In 2017, North America was the most prominent regional market, owing to surging demand for self-testing devices coupled with well-established healthcare infrastructure
Market leaders are involved in R&D activities to develop accurate, cost efficient, and sensitive paper based microfluidics. Focus on mergers and acquisitions, consistent system upgradation through R&D investments and fund raising are some of the key strategies adopted by players.

Vascular Imaging Market Worth $24.4 Billion By 2026

The global vascular imaging market size is expected to reach USD 24.4 billion by 2026, registering a CAGR of 4.2% over the forecast period according to a new report by Grand View Research, Inc. Increasing prevalence of cardiovascular disorders and growing technological advancements in vascular scanning devices are majorly driving the vascular imaging market. In addition, growing funding for developments in vascular imaging devices is further anticipated to fuel the market.

Recent developments in ultrasound technology including 3D visualization and handheld devices are expected to contribute to the vascular imaging market growth. Replacement of 2D technology into 3D has enabled 3D capturing of images without the movement of transducer in real-time. In addition, developments in vector-Doppler technique based on plane-wave imaging are gaining popularity. This method effectively decreases the frame rate (reduces scan-lines) required for focusing an image and more rapidly.

Increasing number of diagnostic imaging centers due to increasing patient pool is an opportunity for the manufacturers to introduce more efficient imaging technologies. Increasing developments in imaging technologies, such as X-ray based analyses and ultrasonography techniques are expected to expand the applications of vascular imaging. These modalities are highly preferred in both palliative and curative care for superior levels of healthcare.

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https://www.grandviewresearch.com/industry-analysis/vascular-imaging-market

Further Key Findings from the Report Suggest:

By type, non-invasive segment held the largest share in vascular imaging market in 2018 owing to various advantages offered by different techniques, such as patient safety and shorter turnaround time
Advantages offered by CT scanners, such as enhanced spatial and temporal resolution, quick technique, and offering of multiple images from different angles with the help of x-ray tube are expected to expand the applications of this modality
North America dominated the vascular imaging market in 2018, owing to high prevalence of cardiovascular disorders among geriatric population and well-established healthcare facilities
Vascular imaging market in Asia Pacific is expected to witness lucrative growth rate over the forecast period owing to high prevalence of CVDs in lower and middle income economies
The key players present in the vascular imaging market are Siemens Healthineers, GE Healthcare, Koninklijke Philips N.V. Hitachi Medical Corporation , Samsung Medisun, Shimadzu Medical Systems, Hologic Inc., Abbott Laboratories, and Carestream Health Inc.

Patient Positioning Systems Market Size To Reach $1.4 Billion By 2025

The global patient positioning systems market is anticipated to reach USD 1.4 billion by 2025, according to a new report by Grand View Research, Inc., registering a 4.7% CAGR during the forecast period. This market is expected to witness lucrative growth during through 2025 owing to rising awareness about and surging expenditure on diagnostic procedures. In addition, increasing prevalence of cancer and rising geriatric population are expected to assist in market growth.

According to the National Cancer Institute, in 2016, there were 1,685,210 new cases of cancer diagnosed in U.S. and 14.1 million cases globally. The most common types of cancer are breast cancer, prostate cancer, and colon and rectum cancer. This steady increase in disease prevalence acts as a driver for R&D investments in the industry. Increase in innovation has resulted in improved efficiency and accuracy of these systems in cancer therapy. These products keep patients immobile yet comfortable during radiotherapy. This is anticipated to supplement industry growth.

Rising expenditure on diagnostics procedures has been a strong force driving demand in the market. According to a research published by NCBI, majority oncologists and cardiologists in U.S. and Germany prescribe diagnostics tests and choose a treatment plan only after studying test results. Thus, demand for diagnostics tests is increasing globally.

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https://www.grandviewresearch.com/industry-analysis/patient-positioning-systems-market

Further Key Findings From the Report Suggest:

By product, the tables segment held a lucrative market share in 2016, owing to increasing prevalence of cancer and rising number of surgeries performed
In terms of application, the surgery segment is expected to account for the dominant market share on account of rising incidence of cancer, globally
By end use, the ambulatory segment is expected to register the highest growth over the forecast period owning to increase in precision of minimally invasive technologies
North America is projected to dominate the patient positioning systems market over the forecast period due to presence of a large number of diagnostic centers
Some of the key players in the patient positioning systems market are Medtronic; Hill-Rom Holdings, Inc.; Stryker Corporation; Medline Industries; Skytron, LLC; OPT SurgiSystems Srl; SchureMed; Smith & Nephew; STERIS plc; and Leoni.

Blood Collection Market Size Worth $13.99 Billion By 2026

The global blood collection market size is expected to reach a value of USD 13.99 billion by 2026, expanding at a CAGR of 6.6%, according to a new report by Grand View Research, Inc. Rising incidence of infectious and non-communicable diseases is a major factor anticipated to propel the market growth during the forecast period.

According to the World Health Organization, over 41 million individuals that are equivalent to almost 71% of global deaths were caused due to non-communicable diseases in 2018. Cardiovascular diseases registered the highest mortality rates of over 17.9 million followed by cancer that claimed 9 million deaths and respiratory diseases such as chronic obstructive pulmonary disease & asthma claimed over 3.9 million lives in 2017 globally. These facts are indicative of an increase in the incidence of non-communicable diseases, which is expected to fuel market growth.

An increase in the number of road accidents is anticipated to lead to a rise in demand for blood and its components. According to the National Trauma Institute, trauma injuries account for 30% of lives lost globally. The economic burden due to trauma injuries accounts for nearly USD 671 billion in a year. Statistics from the same source indicate that trauma is the number one cause of death from the age of 1 to 46. These facts are indicative of the rising incidence of trauma injuries that require blood collection products for effective treatment.

The growing rate of novel product launches and investments are anticipated to fuel the market growth during the forecast period. For instance, in August 2019, Velano Vascular announced that the company received an investment of USD 10 million from its strategic investor, Intermountain Healthcare for Velano Vascular’s FDA cleared PIVO needle-free blood collection technology.

PIVO device temporarily attaches itself to a peripheral IV catheter that collects the fresh venous sample. This device uses disposable needle-free that caters to lowered risks, improved quality of care, and increased efficiency. Therefore, the use of such novel technologies to avoid painful blood collection methods is expected to fuel market growth.

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https://www.grandviewresearch.com/industry-analysis/blood-collection-market

Further Key Findings from the Study Suggest:

Blood collection tubes witnessed huge demand owing to its increasing usage in diagnostics and blood sampling, thus, generated largest revenue in the year 2018
Treatment application is anticipated to gain significant market share in the near future owing to rising incidence of chronic diseases
The diagnostics application segment held the largest revenue share in 2018, due to the expanding pool of geriatric population and escalating prevalence of infectious & non-communicable diseases
In 2018, the hospitals segment accounted for the largest share in the market due to an upsurge in the incidence of trauma & accidental cases along with growing number of surgical procedures
North America held the largest share of the blood collection market in the year 2018, which can be attributed to the presence of a highly developed healthcare infrastructure and advanced blood collection products.
Some of the key companies include Abbott Laboratories, NIPRO Medical Corp., Becton, Dickinson and Company, Terumo Corp., Medtronic, Qiagen, and FL MEDICAL s.r.l.

Nuclear Medicine Market Size Worth $12.6 Billion By 2027

The global nuclear medicine market size is expected to reach USD 12.6 billion by 2027, expanding at a CAGR of 9.5%, according to a new report by Grand View Research, Inc. Research and development of advanced technologies by the key players for diagnosis and treatment of diseases is expected to drive the radiopharmaceuticals market.

For instance, in May 2019, GE Healthcare with Indi Molecular, Inc., collaborated to develop Protein Catalyzed Capture (PCC) technology and immune cell-targeted PET tracer candidates. This diagnostic tool will help in better understanding of patient’s immune cell and in early treatment response.

Rising prevalence of cancer and cardiovascular diseases is one of the major factors responsible for market growth. Moreover, high prevalence of cancer in emerging Asian countries is creating huge demand for radiopharmaceuticals in diagnosing the disease. For instance, according to the GLOBOCAN, in 2018, approximately 48.4% of cancer cases were registered in Asia.

In addition, presence of standard guidelines prepared by regulatory authorities for radiopharmaceuticals is expected to accelerate market growth. For instance, in August 2019, FDA published a guideline for non-clinical studies and product labelling that are not covered by FDA and ICH guidelines for radiopharmaceuticals used in the treatment of cancer.

Manufacturers are focusing on development of innovative technologies to produce medical isotopes that can fulfill the increasing demand for nuclear medicines. For instance, in October 2018, with the support of ASML, The Institute For Radioelements (IRE) developed and built an electron beamline to manufacture medical isotope molybdenum 99 (Mo-99). Due to this innovative technology, the process of production is waste-free and non-fission.

In addition, research centers and hospitals are launching novel nuclear medicine techniques to treat various diseases at an affordable cost as compared to the existing treatments. For instance, in August 2017, the Kovai Medical Centre and Hospital (KMCH) had launched Rhenium 188 Lipiodol to treat liver cancer and other diseases such as metastatic bone pain, rheumatoid arthritis, and hemophilic bleeding joints at low cost with lesser hospitalization.

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https://www.grandviewresearch.com/industry-analysis/nuclear-medicines-market

Further key findings from the study suggest:

In 2019, the SPECT segment had dominated the market owing to integration of SPECT with X-ray/CT that has gained more acceptance and proved to be useful in many clinical situations due to its high accuracy
PET diagnostic nuclear medicine is expected to witness the fastest growth over the forecast period owing to the increasing adoption of high resolution PET scanners
In case of the therapeutic segment, brachytherapy is anticipated to be the fastest growing segment due to the higher radiation protection as compared to other treatment options
The oncology application segment dominated the nuclear medicine market in 2019 owing to the presence of pipeline drugs and high prevalence of cancer
The market in Asia Pacific is projected to witness the fastest growth during the forecast period owing to the high unmet needs and development of radiopharmaceuticals for diagnosis and treatment of various diseases
Key players in the market include companies such as Eckert and Ziegler Group Nordion, Inc.; Bracco Imaging S.p.A.; and GE Healthcare as well as government organizations such as Department of Atomic Energy and Australian Nuclear Science and Technology Organization (ANSTO).