Intraoperative Imaging Market Worth $4.44 Billion By 2026

The global intraoperative imaging market size is anticipated to reach USD 4.44 Billion by 2026, registering a 5.9% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Rising demand for minimal invasive surgical solutions and increasing application of intraoperative imaging technology in neuro and orthopedic surgeries is expected to contribute towards the growth of the market.

Improving quality of healthcare services especially in the developing countries and stringent guidelines towards patient safety is leading to boost the adoption of advance intraoperative technology. Moreover, adoption of intraoperative devices has helped healthcare facilities in saving costs on repeat operation, thus significantly decreasing overall financial burden on patients

Increasing incidence of neurological disorders such as Parkinson’s, stroke, epilepsy, Alzheimer’s, and dementia is expected to drive the demand for advanced brain surgery solutions including intraoperative imaging. Furthermore, rapidly growing number of spinal fusion and other orthopedic surgeries such as knee and hip replacements and growing trends of minimally invasive procedures installing implants is expected to fuel the market.

Technological advancement in intraoperative Imaging systems is an emerging trend witnessed in the market. These developments include 3D, 4D imaging technology coupled with an efficient guiding and dose management systems which doesn’t affect the surgical procedure time. Such growing development in Intraoperative imaging devices is expected to drive the market during the forecast period.

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

Further key findings from the report suggest:

Based on the product, iCT holds the largest market share and is also expected to grow at a significant rate over the forecast period. Wider application of iCT across several surgical procedures coupled with introduction of innovative technology such as C-arm CT system, low dose exposure systems, pediatric intraoperative CT systems, is expected to propel intraoperative imaging market growth.
Based on Application, neurosurgery and orthopedic surgery market are leading the market. The driving factors are the growing prevalence of neurological disorders across the globe and increasing number of surgeries such as spinal fusion, knee replacement.
Hospital held the largest market share in 2018. Larger patient pool, rising adoption to minimal invasive surgeries, availability of specialist surgeons, and advance technology is expected to propel the growth of this segment.
North America held the largest market share in 2018. Presence of major market players and developed healthcare infrastructure is expected to contribute towards the growth of market in this region.
Asia Pacific is expected to grow at the fastest rate over the forecast period due to rapidly developing economy and healthcare services especially in the countries like India and Indonesia. The increasing popularity of intraoperative imaging technology coupled with large unmet needs in the regions of Asia Pacific is expected to drive the growth of this market.

Implantable Cardiac Rhythm Management Device Market Size Worth $20.39 Billion By 2026

The global implantable cardiac rhythm management device market size is expected to reach USD 20.39 billion by 2026 registering a CAGR of 5.1%, according to a new report by Grand View Research, Inc. Increasing geriatric population, cases of Cardiovascular Disease (CVDs), and demand for accurate and effective diagnostics of these diseases are the factors attributing to the growth of the market. Cardiac disorders are one of the major causes of mortality around the world, with a large percentage of the population suffering from some form of cardiac disorders in their lifetime.

Hectic schedules and busy lifestyle are major factors that cause hypertension among individuals. An estimated 85.7 million Americans (i.e., almost 34% of the population) suffered from high Blood Pressure (BP) and hypertension due to stressful lifestyle. Almost 23.4 million American adults were diagnosed with diabetes in 2017, while an estimated additional 7.6 million American adults are undiagnosed diabetics. Thus, prevalence of CVDs is increasing in younger generation as well. Globally, the prevalence of diabetes is expected to increase to 7.7% by 2030.

Various implantable devices, such as pacemakers, ICDs, and Cardiac Resynchronization Therapy (CRT), are being used for improved cardiac performance. Pacemakers are the mostly used devices for conduction disorders and sinus dysfunctions. CRT devices and ICDs are comparatively new and incorporate better technology than their older counterparts.

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https://www.grandviewresearch.com/industry-analysis/implantable-cardiac-rhythm-management-device-market

Further key findings from the study suggest:

Hospitals is expected to be the largest end use segment of the global implantable cardiac rhythm management (CRM) device market over the forecast period.
The CRT product segment is anticipated to witness the fastest growth due to implementation of supportive legislative policies in developed countries and increased awareness about these products
North America led the global market with a market share of more than 45% in 2018 due to higher awareness levels, supportive government policies, favorable reimbursement schemes, and increased cases of CVDs
Asia Pacific is expected to exhibit the fastest growth at a CAGR of 5.6% from 2019 to 2026
Key companies in the market include St. Jude Medical/Abbott Laboratories; Medtronic PLC; Boston Scientific; Biotronik; Physio-Control, Inc.; Schiller AG; Koninklijke Philips N.V.; Zoll Medical Corporation

Teleradiology Market Size Worth $10.9 Billion By 2027

The global teleradiology market size is estimated to reach USD 10.9 billion by 2027 registering a CAGR of 13.9% over the forecast period, according to a new report by Grand View Research, Inc. Shortage of radiologists, coupled with continuously rising demand for imaging procedures, is expected to drive the market. Despite a significant increase in the installation of radiology equipment in countries such as the U.K., the U.S., and Singapore over the past few years, there is still a high unmet need for diagnostics imaging. For instance, as per a report by the National Health Service (NHS), the average waiting time for an MRI test in England was reported to be 21 days in 2018.

In addition, legislative amendments made by various governments worldwide for diagnostic imaging services will enhance the growth of teleradiology during the forecast period. For instance, amendments in Australia’s Health Insurance Act 1973 for diagnostic imaging have enabled Medicare funding for these diagnostic imaging services since March 2008. This has allowed better access to diagnostic imaging for various conditions. North America is a major market for teleradiology and accounted for 39.5% of the global revenue in 2019 due to factors such as greater funding for R&D, rising patient awareness levels, and growing cancer prevalence.

The regional market is likely to expand further on account of favorable government initiatives for improving the healthcare facilities in rural areas and increased healthcare expenditure. Asia Pacific is expected to witness the fastest growth over the forecast period, exhibiting a CAGR of 14.9%. The rising demand for innovative and advanced medical platforms, coupled with rapidly growing healthcare infrastructure, supports the growth in this region. In addition, the presence of target population and the need for improved disease diagnosis are anticipated to drive the demand for teleradiology equipment in APAC.

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https://www.grandviewresearch.com/industry-analysis/teleradiology-market

Further key findings from the report suggest:

X-ray held the largest teleradiology market share in 2019 owing to its wide application scope, such as in the detection of dental injuries and fractures in bones. Growing demand for bedside imaging and core diagnostics and the introduction of novel technologies are expected to further boost segment growth
CT scan is expected to witness the fastest growth over the forecast period. Extensive usage, faster testing, high-resolution imaging capacity, and the advent of new generation systems such as 4D are some of the factors responsible for segment growth
Based on end-use, hospitals held the largest market share in 2019. Large patient base, building financial capacity, and receptivity to advanced technologies are the factors responsible for uptake of radiology products in hospitals
North America held the largest share in the market for teleradiology in 2019 due to the wide usage of advanced technologies, presence of key companies, and established healthcare infrastructure in the region
Asia Pacific is expected to be the fastest-growing region over the forecast period due to supportive government regulations for the expansion of teleradiology and quick adoption of new technologies
Some of the prominent companies are 4ways Healthcare Ltd.; HealthWatch TeleDiagnostics Pvt. Ltd.; RamSoft, Inc.; Everlight Radiology; Virtual Radiologic; Agfa-Gevaert N.V.; ONRAD; Teleradiology Solutions; and Global Diagnostics. Most of these companies focus on expanding their product portfolios and entering untapped markets such as Asia Pacific.

Smart Bed Market Size Worth $3.1 Billion By 2027

The global smart bed market size is anticipated to reach USD 3.1 billion by 2027, expanding at a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Rising prominence for gaining a healthy sleep through the infusion of sensor-based advanced technology is the growing demand for smart beds. In addition, rising penetration of smart homes across regions is also paving way for technologically integrated household products, thereby paving the way for increased growth of the market.

The rapid development of smart home technology and their penetration across developed nations of America and Europe is positively impacting the demand for the product. According to the European Commission in 2017, Europe’s smart home revenue is expected to reach USD 19.0 billion by 2021, through its massive markets in the U.K. and Germany. Additionally, useful features compiled in the product such as customized mattress firmness that can sense and react to body temperature, tracking breathing, heart rates, and restfulness is gaining consumer’s attention.

Increasing instances of sleeping disorders among individuals particularly in the U.S. is deriving higher traction in the industry. According to American Sleep Association (ASA), insomnia is the most common sleep disorder, with short term issues reported by about 30.0% of adults and chronic insomnia by 10.0% in the country as of December 2019. In addition, 37.0% of those among 20-39-year-olds, and 40.0% of those among 40-59-year-olds expressed short sleep duration. While 35.3% of adults reported less than 7 hours of sleep during a typical day. These instances have raised the need for healthy and quality duration of sleep among consumers, thereby driving product demand in various application segments including households, hospitals, and hospitality.

In terms of application, the residential segment held a dominant position in the market in 2019. Lifestyle inflation among low, middle as well as high-income individuals are paving the way for increased spending among consumers towards relaxation and comfort, thereby scaling the demand for smart beds. Also, new innovations led by manufacturers in the industry with new product launches are likely to ramp up the sales for the product. For instance, in February 2019, Eight Sleep introduced a new biometric-monitoring smart bed.

The specialty stores segment accounted for a dominating revenue-based share of 66.5% in 2019. These stores provide training to their employees to assist customers and few of them also offer price-matching guarantees. In addition, major retail chains are focusing on establishing new stores with innovative layout, which is projected to support the growth of this segment in the coming years.

North America dominated the market with a revenue share of 60.2% in 2019. Increasing penetration of home automation in the region is also boosting the demand for smart furniture such as smart beds. According to the European Commission in 2017, smart home revenue in the U.S. is expected to grow over three-fold between 2016 and 2021, exceeding USD 32.0 billion. Additionally, various sleep-related disorders prevalent in the U.S. is triggering higher demand for quality sleep patterns among individuals. According to the American Sleep Association, 50-70 million adults in the U.S. have a sleep disorder. Also, around 25.0 million adults in the U.S. have obstructive sleep apnea.

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https://www.grandviewresearch.com/industry-analysis/smart-bed-market

Further key findings from the study suggest:

The hospital application segment is expected to reach USD 628.4 million by 2027 and is anticipated to witness a CAGR of 5.2% from 2020 to 2027
The specialty stores segment was valued at USD 1.4 billion in 2019 and is expected to reach USD 2.1 billion by 2027
In Asia Pacific, the market is expected to witness substantial growth over the forecast period with a revenue-based CAGR of 5.6% from 2020 to 2027.

Ophthalmic Ultrasound Devices Market Worth $728.7 Million by 2026

The global ophthalmic ultrasound devices market size is expected to reach USD 728.7 million by 2026, according to a new report by Grand View Research, Inc., growing at a CAGR of 6.1%. Increasing burden of ophthalmic disorders, such as cataract & retinal detachments, and high demand for effective imaging tools are factors driving growth. In addition, frequent new product launches are expected to contribute toward high growth during the forecast period.

Advanced technology with integrated scanning features is expected to replace the existing conventional devices. Rising number of private as well as non-profit ophthalmic clinics and ambulatory imaging centers in developing countries is expected to play an important role in driving the global ophthalmic ultrasound systems market.

Increasing incidence of diabetes, a major factor leading to ophthalmic disorders such as cataract & proliferative diabetic retinopathy, growing awareness about cataract surgeries, and introduction of technologically advanced devices are some of factors anticipated to drive the market over the forecast period.

Growing number of strategic initiatives, such as introduction of technologically advanced and integrated devices at competitive prices, establishing of exclusive agreement with hospitals & clinics, and mergers & acquisitions also aid growth. Moreover, establishment of ophthalmology society and evolving government and non-government programs supporting eye care are expected to boost the market.

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https://www.grandviewresearch.com/industry-analysis/ophthalmic-ultrasound-devices-market

Further key findings from the report suggest:

The A-scan segment held largest share and is expected to grow at lucrative CAGR over the forecast period owing to its increasing demand as critical imaging equipment in cataract surgery
Ocular ultrasounds that are portable with integrated scanning features are anticipated to witness fastest growth during the forecast period
Hospital segment accounted for the largest share in 2018. Large patient pool and government support in the form of funding for advancement of eye care in different geographies are expected to contribute toward growth of this segment
North America dominated in 2018. Growth of this region is fueled by local presence of major manufacturers and suppliers developing advance technology coupled with rising prevalence of ophthalmic disorders
Asia Pacific is anticipated to witness fastest growth over the forecast period due to improving healthcare infrastructure and growing economies
Major players in the ophthalmic ultrasound devices market are focusing on launch of advance technology with improved parameters, such as image resolutions & data storage, and building efficient software for improving user interface

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.

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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

Point of Care Testing Market Worth $24.1 Billion By 2027

The global point of care diagnostics market size is expected to reach USD 24.1 billion by 2027, expanding at a CAGR of 3.2%, according to a new report by Grand View Research, Inc. Continuous advancement in the development of highly sensitive and specific miniaturized biosensors, based on microfluidic systems along with handheld devices, is anticipated to drive the market. These systems are capable of automation, integration, and multiplex detection, suitable for use in areas without well-trained professionals.

These tests have emerged as an indispensable part of modern healthcare, as it improves the quality, accuracy, availability, and affordability of patient care. The uptake of POC devices is rapidly progressing due to the incorporation of advanced technologies. For instance, in July 2019, HiberGene Diagnostics has outlined plans to develop a cost-effective POC testing system based on its licensed loop-mediated isothermal amplification technology.

The growing popularity of rapid testing in near-patient settings has positively impacted point of care testing market growth. The rise in investments to develop advanced rapid testing devices, such as single integrated user-friendly devices, fuels market progression. For instance, in February 2019, the Global Health Investment Fund (GHIF) granted USD 6 million to Atomo Diagnostics for the commercialization of its AtomoRapid diagnostic test platform.

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https://www.grandviewresearch.com/industry-analysis/point-of-care-poc-diagnostics-industry

Further key findings from the report suggest:

Glucose testing accounted for the largest revenue share owing to the high incidence rate of diabetes and the abundant usage of portable glucose meters
Cancer markers are expected to witness the fastest growth rate due to the extensive ongoing R&D activities related to cancer and growing demand for circulating tumor cells (CTC) – based cancer detection
POC tests offer several benefits as compared to conventional lab tests that lead to their high utilization rate in clinics, resulting in the largest revenue share of clinics
These benefits include reduced turnaround testing timeline, delivery of on-site results, minimal contact with clinical staff, and faster diagnosis
Continuous development of point of care devices, especially glucose meters, for home care settings, early detection, and prevention of diseases is expected to drive the home segment at the fastest growth rate
North America dominated the point of care testing market owing to the favorable government initiatives and programs related to lipid and blood sugar level testing that encourage the usage rate of point of care tests in this region
Key participants operating in this market include Danaher; Abbott Laboratories; bioMérieux SA; Trividia Health, Inc.; QIAGEN, F. Hoffmann-La Roche Ltd.; and Siemens
Companies are adopting several strategic developments related to the development of biosensors for point of care settings
For instance, in September 2019, BioMed X completed its collaboration with Roche Diagnostics for the development of nanomaterial-based biosensors for point of care testing

Catheter Market Size Worth $77.7 Billion By 2026

The global catheter market size is expected to reach USD 77.7 billion by 2026 registering a CAGR of 9.7%, according to a new report by Grand View Research, Inc. Increasing prevalence of chronic diseases and supportive insurance policies are some of the prime factors boosting the market growth. Presence of multi-national manufacturers and improving medical facilities, especially across developing regions, are also anticipated to propel the market growth over the forecast period.

As per the statistics published by the WHO, chronic diseases is anticipated to contribute to 73% of all deaths and 60% of the global burden of disease by 2020. The rise in geriatric population has also led to increase in number of hospitalizations and surgeries anticipating the market growth. Catheters have undergone technological advancements; for instance, miniaturized products and introduction of antimicrobial catheters to reduce associated infections. Wide usage of minimally invasive surgeries is expected to favor the market growth.

Rising awareness about catheters has in turn boosted their demand. In addition, increasing number of midscale catheter manufacturers gaining a higher market share is expected to promote the market growth. Furthermore, rise in funding by various government bodies and medical device manufacturers for R&D will boost the market growth. However, requirement of intensive capital for the development of advanced devices may obstruct market development.

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https://www.grandviewresearch.com/industry-analysis/catheters-market-analysis

Further key findings from the study suggest:

The cardiovascular product segment led the market in 2018 owing to increase in the number of patients suffering from chronic Cardiovascular Diseases (CVDs)
Specialty catheters is expected to be the fastest-growing product segment over the forecast period due to rising prevalence of target diseases and demand for minimally invasive procedures
Asia Pacific is anticipated to witness the fastest CAGR from 2019 to 2026 owing to rising cases of kidney and cardiovascular diseases, improving medical facilities, and supportive insurance policies
Some of the key companies in the global catheter market are Medtronic Plc.; Convatec Corp.; Smiths Medical, Inc.; Boston Scientific Corp.; and Coloplast A/S
The market is price-sensitive with many small-, medium-, and large-scale companies. Key companies focus on product bundling strategies
Strategic partnerships between the manufacturers and the healthcare establishments intensify the market competition

Liver Disease Diagnostics Market Size Worth $48.7 Billion By 2027

The global liver disease diagnostics market size is expected to reach USD 48.7 billion by 2027, expanding at a CAGR of 6.5%, according to a new report by Grand View Research, Inc. increasing funding and research initiatives undertaken by market players is one of the major factors expected to propel market growth. For instance, in November 2019, Glycotest, Inc. received the second USD 3.0 million tranche of USD 10.0 million Series A funding from Shanghai Fosun Pharmaceutical Co., Ltd.(Fosun Pharma). Under this investment, Glycotest, Inc. transferred HCC panel technology to Fosun Pharma to commercialize in China and develop tests for liver cancer and liver fibrosis that are currently under pipeline.

Companies are focusing on collaborations and partnership to improve the quality of care,which is anticipated to drive the market. For instance, in October 2019, Perspectum Diagnostics entered into a partnership to offer LiverMultiScan at Precious Medical Center in Singapore. The aim of this partnership was to create awareness among people to consider liver checking as an integral part of their health screening.

Researchers conducting studies to support the development of novel diagnostic methods that can accurately differentiate between benign and malignant lesions are expected to fuel market growth. For instance, researchers from Charité – Universitätsmedizin Berlin used tomoelastography to visualize mechanical properties of tumors and developed a new Magnetic Resonance Imaging (MRI) technique to detect grading of tumor consistency.

Furthermore, companies are conducting clinical trials to develop new tests with high sensitivity and specificity. For instance, Laboratory for Advanced Medicine is conducting a clinical trial on 1,600 patients with liver cirrhosis using invasive biopsy through quantification of cfDNA methylation and comparing it with ultrasound technique. The test is projected to be completed in 2020.

Development and commercialization of accurate diagnostic methods is expected to boost the market. For instance, in March 2020, ENDRA Life Sciences Inc. received CE mark for TAEUS FLIP system. This system measures liver fat to identify and monitor Non-Alcoholic Fatty Liver Disease (NAFLD) and Non-Alcoholic Steatohepatitis (NASH). It is an ultrasound system that accurately and at point of care quantifies fat in the liver.

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

Further key findings from the study suggest:

Imaging segment witnessed the largest market share in 2019 owing to increasing initiatives by key players to develop accurate imaging systems
Based on end-use, the hospitals segments held the largest share in 2019. Factors such as increasing adoption of advanced technologies and favorable reimbursement policies are expected to drive segment growth
North America dominated the market in 2019 due to increasing alcoholic consumption and rising awareness regarding chronic diseases
The market in Asia Pacific is projected to witness the fastest growth over the forecast period owing to the high unmet needs and rising regular check-ups for the diagnosis of diseases.

Aortic Aneurysm Market Size Worth $4.71 Billion By 2026

The global aortic aneurysm market size is estimated to reach USD 4.71 billion by 2026 registering a CAGR of 8.6%, according to a new report by Grand View Research, Inc. Growing geriatric population in developed countries and rise in the number of tobacco smokers are expected to be the key factors driving the global market. Technological advancements in endovascular surgical procedures will augment the market growth further.

Cases of Abdominal Aortic Aneurysms (AAAs), especially in men aged 65 years and above, surpassed the number of Thoracic Aortic Aneurysm Repair (TAA) by threefold. This has increased the demand for advanced stent-graft systems for AAA. Due to the lack of multiple treatment options and being a complex procedure, TAA procedures are fewer. This offers a lucrative opportunity to the manufacturers for developing advanced products for Thoracic Endovascular Aneurysm Repair (TEVAR).

Companies in the market focus on M&A activities to gain higher market share. For instance, leading companies, such as Medtronic, Endologix, and Terumo, acquired smaller firms to expand their product portfolios and geographical reach. In addition, recent FDA approvals have aided in overall market growth. For example, in 2016, Cook Medical received commercialization rights for its Zenith product line in the U.S market for TEVAR.

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https://www.grandviewresearch.com/industry-analysis/aortic-aneurysm-market

Further key findings from the study suggest:

In 2018, AAA segment held the largest share of the global aortic aneurysm market on account of high disease incidences
Stent grafts held a major market share, in terms of sales revenue, in 2018, as they have more than 50% share in the overall surgical treatment cost of a patient
Endovascular Aortic Aneurysm Repair (EVAR), which includes minimally invasive surgeries, is expected to be the fastest-growing segment in future as it is more efficient than open aneurysm due to fewer postsurgical adverse effects
North America held the highest revenue share in 2018 followed by Europe on account of well-established healthcare infrastructure, access to advanced screening and diagnostic tools for AAA, and favorable reimbursement scenario in the region
Cook Medical Devices Pvt. Ltd., Medtronic PLC, Lifetech Scientific Corp., and Gore Medical are some of the key companies in the global market