Sternal Closure Systems Market Size Worth $3.12 Billion By 2026

The global sternal closure systems market size is expected to reach USD 3.12 billion by 2026, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% during the forecast period. The market is driven by growing number of surgeries undertaken to treat complex cardiovascular problems. For instance, according to the data published by American Heart Association (AHA), in 2014, around 520,000 Coronary Artery Bypass Graft (CABG) surgeries performed in the U.S. the report further states that more than 800,000 CABG surgeries are performed worldwide every year.

Furthermore, National Health Interview Survey conducted by CDC in 2016 concluded that 28.1 million people were diagnosed with heart related disorder including, valvular heart disease, cardiac arrest. Moreover, technological advancements such as Talon systems, double sternal wires and favorable reimbursement criteria would propel growth in near future.

Mergers & acquisitions, new product development and geographical expansion are key sustainability strategies adopted by players in the sternal closure systems market. For instance, KLS Martin, in a vain to increase its geographical presence started its sales operations in the U.K., the Netherlands, Italy, France, Australia, Russia, Dubai, Japan, Malaysia and Brazil in last couple of years. The company is also focusing on Asia Pacific to seize the opportunity owing to larger patient pool in the region. In line with the strategy, in June 2016, the company started manufacturing unit in Chennai, India.

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Further Key Findings from the Study Suggest:

Rising adoption of cardiothoracic surgeries including Coronary Artery Bypass Graft (CABG), Aortic valve surgery, Arrhythmia surgery is anticipated to fuel growth in near future.
The closure devices segment held major shares of the global market in 2017, owing to introduction of technologically advanced clips and wires globally and favorable reimbursement regulations offer by developed regions such as North America and Europe.
The PEEK segment is anticipated to post significant growth over the coming years due to several benefits offered by the material, including biocompatibility, chemical resistance, end-product purity, high temperature resistance, and thermoformable nature
North America dominated the market in 2018. Growth of region can be attributed to presence of a large number of players and high competition rivalry in the market. Moreover, rising adoption of technologically advanced systems coupled with presence of skilled professionals will further boost growth of the region.
Asia Pacific is expected to grow at the highest pace during forecast period on the backdrop of increased per capita income, growing need for improved healthcare infrastructure and rising patient pool
The market is currently consolidated, with few companies capturing major shares. However, increasing demand for innovative technologies and recent market dynamics are making way for new entrants.

Continuous Passive Motion Devices Market Worth $1.1 Billion By 2026

The global continuous passive motion devices market size is expected to reach USD 1.1 billion by 2026, according to a new report by Grand View Research, Inc. The increasing number of government initiatives along with the increasing number of ageing population are expected to drive the market growth over the forecast period.

CPM is initiated in the recovery room immediately post surgery procedure or during the early postoperative period. The therapy time may range from 1 to 24 hours of treatment per day and is used as an adjunct to physical therapy that may continue for 1 to 6 weeks depending on the degree of rehabilitation required. In February 2016, BTL launched BTL-CP Motion with 13 automatic preset protocols and 50 user defined protocols that improves movement for better therapy outcomes.

Factors such as the rising prevalence of disorders linked with trauma, joint replacement, or ligament reconstruction boost the CPM devices market. Osteoporosis decreases bone density, causing fracture even after a minor trauma incidence. The condition affects around 8.9 million population annually. The growing concern associated with population suffering from poor bone health has resulted in the development of efficient outpatient rehabilitation systems. Moreover, the improvement in reimbursement scenario, and the preference for minimal invasion offered by CPM devices as compared to surgical procedures are expected to boost the market growth.

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https://www.grandviewresearch.com/industry-analysis/continuous-passive-motion-devices-market

Further Key Findings From the Report Suggest:

Knee joints dominated the type segment in 2018, whereas hip joint is anticipated to witness significant growth over the forecast period.
The growth of knee joints CPM devices is attributed to factors such as the increasing number of knee arthroplasty. The rise in road traffic accidents increases the number of orthopedic surgeries performed worldwide. Improvement of care in such cases involves ensuring better quality of post-hospital care, such as through CPM training program.
Based on design, the market is segmented into fixed and portable devices wherein fixed devices dominated the market while portable CPM devices is anticipated to grow at the fastest rate owing to the increasing use of devices in home setting.
On the basis of demographics, the market is segmented into adults (18 and above) and children (below 18) wherein adult population dominated the segment market owing to increasing number of ageing population with joint disorder.
North America dominated the continuous passive motion devices market in 2018 in terms of revenue share owing to the rising government initiative to increase patient access to outpatient rehabilitation.
Key industry participants of this market include Furniss Corporation; Surgi-Care, Inc.; Bio-Med Inc.; BTL Corporate; Chattanooga; and Chinesport Rehabilitation

Sickle Cell Disease Treatment Market Worth $5.5 Billion by 2023

The global sickle cell disease treatment market size is expected to reach USD 5.5 billion by 2023, according to a new report by Grand View Research, Inc., exhibiting a 14.3% CAGR during the forecast period. Several factors such as increase in investments for R&D, growing target population, and favorable government initiatives are anticipated to drive the market.

Currently available treatments for sickle cell disease (SCD) usually provide symptomatic relief and palliative care. These treatment methods generally include blood transfusions, bone marrow transplant, and pharmacotherapy. Although bone marrow transplant is the only potentially curative treatment, it is recommended only to a small percentage of patients. The market has only two approved products—hydroxyurea and Endari.

High unmet medical needs, strong pipeline, and growing patient pool are key factors expected to influence market growth. In recent years, demand for cost-effective drugs and gene therapies for SCD has increased owing to the unavailability of a permanent cure and risks associated with bone marrow transplant.

Expected launch of late-stage pipeline drugs such as voxelotor, crizanlizumab, Altemia, and rivipansel is projected to drive the sickle cell disease market during the forecast period. Healthcare initiatives undertaken by respective economies are crucial for curbing the financial burden of the disease as well as for increasing access to healthcare facilities and providing various services for early diagnosis, subsequent treatment, and palliative care.

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https://www.grandviewresearch.com/industry-analysis/sickle-cell-disease-treatment-market

Further key findings from the report suggest:

Currently, 20 to 25 million people worldwide are reportedly living with sickle cell disease and about 300,000 infants are born annually with the disease
The U.S. dominated the global market and is projected to maintain its position through 2023, owing to rise in incidence of diseases and launch of promising pipeline candidates
Among treatments, blood transfusion held the largest share in 2017, followed by pharmacotherapy. However, it is anticipated that pharmacotherapy will lead the market by 2023, supported by a strong pipeline and several promising drug launches
Emmaus Medical, Global Blood Therapeutics, bluebird bio, Pfizer, and Novartis are some of the key players operating in this market
Emmaus Medical is projected to dominate the SCD pharmaceutical market in 2023, supported by strong sales of Endari
Currently, 37 pipeline drugs are in various clinical development stages and significant sales contribution is expected from promising candidates such as voxelotor (Global Blood Therapeutics), crizanlizumab (Novartis), Altemia (Sancilio), and rivipansel (Pfizer).

X-ray Systems Market Size Worth $10.43 Billion By 2025

The global x-ray systems market size is expected to reach USD 10.43 billion by 2025, according to a new report by Grand View Research, Inc., registering a 2.9% CAGR during the forecast period. Rising investments in medical technology, increasing R&D activities, and a surge in product launches are key factors driving market growth.

Prominent modalities include radiography, fluoroscopy, and computed radiography. Computed radiography systems are the most preferred systems, as they provide sharp images in a shorter time. Moreover, the imaging plates can be reused. Fluoroscopy is also gaining prominence in developed countries such as the U.S. and Canada.

X-ray systems can be stationary or portable. Even the stationary systems dominated the market in 2017 in terms of revenue, the portable kind are poised to witness faster growth. Stationary radiography systems have significant demand in developing countries where adaption to new technology is slow. Portable systems are preferred over stationary variants due to their mobility, which makes them more convenient and flexible for use.

Some of the key players in this market are Koninklijke Philips N.V.; GE Healthcare; Hitachi, Ltd.; Shimadzu Corporation, Fujifilm Medical Systems; Siemens Healthineers; Canon Medical Systems Corporation; Carestream Health; Hologic, Inc.; and Biosign. Expansion of regional and service portfolios and mergers and acquisitions are some of the leading strategic undertakings adopted by these players. For instance, in December 2016, Hitachi acquired Kurt & Kurt, a medical diagnostic system provider, to expand its businesses in Turkey.

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https://www.grandviewresearch.com/industry-analysis/x-ray-systems-market

Further key findings from the report suggest:

The global X-ray systems market was valued at USD 8.3 billion in 2017 and is expected to at a modest pace over the forecast period
Based on type, digital systems are anticipated to grow at the fastest rate as analog systems fade out
By modality, the computed radiography segment was valued at USD 2.9 billion in 2017, emerging as the market leader. Fluoroscopy will register the fastest growth over the forecast period
While hospitals enjoy the dominant share on the basis of end use, the diagnostic centers segment is anticipated to register a CAGR of 3.6% from 2018 to 2025

Myeloproliferative Disorders Drugs Market Worth $9.26 Billion By 2023

The global myeloproliferative disorder drugs market size is expected to be valued at USD 9.26 billion by 2023, as per a new report by Grand View Research, Inc., expanding at a CAGR of 3.4% during the forecast period. Availability of novel drugs, the presence of a strong pipeline, rising incidence of myeloproliferative disorders due to changing lifestyles, growing geriatric population, and increasing public awareness are some of the primary growth stimulants for the market. Therapeutic development in the second-line setting for Jakafi-intolerant patients is estimated to work in favor of the Ph- MPNs market.

Chronic myeloproliferative disorders are rare hematological malignances that involve the abnormal accumulation of mature myeloid cells (red blood cells, granulocytes, and platelets) and their precursors (myelocytes, metamyelocytes, nucleated red blood cells, and megakaryocytes) in the peripheral blood and bone marrow. This class of disorder includes four main myeloproliferative diseases, which are further categorized by the presence of the Philadelphia chromosome.

There is a higher incidence of myeloproliferative disorders in North America and Western Europe as compared to East-Asian countries. Most patients are diagnosed with MPNs after 60 years of age, however, the diseases can occur in any age group. The U.S. will be the most prominent market for myeloproliferative disorders drugs owing to the presence of a large target population.

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https://www.grandviewresearch.com/industry-analysis/myeloproliferative-disorders-drugs-market

Further key findings from the study suggest:

The U.S. accounted for more than 45.0% of the market in 2017. Spiraling adoption of novel therapeutics and multiple product launches during the forecast period are anticipated to support the prominence of the market in the global arena over the coming years
Strong unmet needs are likely to shape the future of the market and encourage the development of breakthrough first-in-class therapies. Opportunities remain in the Ph- MPNs setting where there exists an unmet need for a safer drug than Jakafi with higher cure rates and lesser allergic effects
Some of the key market participants are Novartis, Bristol-Myers Squibb, Pfizer, Takeda, Incyte, and Teva. Primary go-to strategies of prominent players include collaborations for the development and regional expansion in emerging markets.

Huntington’s Disease Treatment Market Size Worth $1.5 Billion by 2023

The global huntington’s disease treatment market size is expected to be valued at USD 1.5 billion by 2023, as per a new report by Grand View Research, Inc., registering a CAGR of 38.2% during the forecast period. The market is largely driven by factors such as rapid uptake of disease-modifying therapies, increased adoption of novel therapeutics, and increase in R&D activities.

Huntington’s disease is an inherited neurodegenerative disorder characterized by a combination of motor, cognitive, and psychiatric symptoms. Currently, only two symptom-alleviating therapies are specifically approved for this disorder: Xenazine and Austedo. Off-label medications are used extensively due to lack of approved alternatives.

The pipeline for Huntington’s disease is expected to witness rapid developments in the coming years as disease-modifying drugs transform the market landscape. Improved disease understanding has led to significant progress in the development of therapeutic approaches aimed at modifying specific changes linked to the causative mutation. The potential role of RNA antisense technology and stem cell therapy are under active clinical investigation. Wave Life Sciences and Ionis Pharma’s antisense oligonucleotides aim to target underlying disease cause and are expected to contribute significantly to market growth.

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https://www.grandviewresearch.com/industry-analysis/huntingtons-disease-treatment-market

Further key findings from the report suggest:

Teva is projected to become the market leader, capturing more than 45% of the market in 2023, driven by Austedo’s rapid uptake and improved efficacy profile compared to its competitors. Teva’s Huntexil is expected to be the only new symptom-alleviating drug to be launched during the forecast period
Raptor’s RP103 is expected to face head-to-head competition from Prana Biotech’s Phase II drug PBT2 to be the first disease modifying therapy to be launched in the market
Currently, 23 products are under clinical investigation for Huntington’s disease, out of which, one is in Phase II/III each, thirteen in Phase II trials, two in Phase Ib/IIa, six in pre-clinical trials, and one in discovery phase
EU5 will remain the second largest market with more than 15% share in 2023, driven by rising disease prevalence, novel drug launches, and increase in R&D activities
Companies are now focusing on development of treatments that can be injected directly in the brain to directly inhibit the formation of mutant HTT protein, instead of targeting the mutant protein
Drugs with novel targets in early-phase development include Stealth Biotherapeutics’ SBT-20 (mitochondria-targeted cytoprotective peptide), Cellavita + Azidus Brazil’s Cellavita HD (stem cell therapy), Sangamo/ Shire’s mHTT ZFP (zinc finger protein), and UniQure’s AMT-130 (gene therapy).

Opioids Market Size Worth $29.4 Billion By 2026

The global opioids market size is estimated to reach USD 29.4 billion by 2026, according to a new report by Grand View Research, Inc., expanding at a CAGR of 1.8% over the forecast period. Growing geriatric population, coupled with increasing focus on palliative care, is estimated to drive the market. Moreover, increasing geographical expansions by market players is expected to fuel growth.

Rising prevalence of disease conditions with chronic pain, such as cancer, lower back pain, arthritis, and fibromyalgia, is driving the opioids market. Substantial rise in road accidents and trauma, coupled with constantly increasing cases of surgical procedures, is also driving demand for opioid-based pain management solutions.

On the basis of product, ER was the dominant segment in 2018 owing to its high usage in chronic pain management. However, the abuse and misuse of these drugs have resulted in a serious public health crisis.

North America led the market in 2018 with a share of 55.5% in terms of revenue. One of the major reasons for its dominance is rising geriatric population with terminal conditions, such as rheumatoid arthritis. However, opioid abuse in U.S. has been rising at an alarming rate. Overdose has killed over 28,000 people in 2014 alone. Almost half of those deaths were caused by prescription drugs. Hence, drug abuse has been declared a “public health emergency” in U.S. and this is likely to limit market growth in North America.

According to the federal government, around 4,000 Canadians died due to opioid-related overdose in 2017, which is a 34% jump from the previous year. Globally, Canadians are one of the highest users of prescription opioids and this rate, along with associated deaths and hospital visits, has been growing rapidly. To combat this, Health Canada aims to restrict the marketing of such drugs.

The federal government is calling on pharmaceutical companies to stop marketing opioids. For instance, Purdue Pharma has stopped marketing its opioids in Canada, thereby limiting the growth of the North America market. The company has, in fact, shifted its focus to other regions, such as Asia Pacific, to retain its hold in the market. APAC is likely to witness the fastest growth in the coming years.

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

Further key findings from the study suggest:

Extended release was the largest product segment in 2018 due to its high usage in chronic pain management
Cancer pain was the largest pain relief segment in 2018 owing to global increase in prevalence of cancer
North America was the largest regional market in 2018, driven by presence of key players and highest use of prescription opioids
Europe was the second-largest regional market in 2018, primarily fueled by growing geriatric population
Asia Pacific is expected to witness the fastest growth over the forecast period due to increase in geriatric population, coupled with shifting focus of key players towards this region in order to strengthen their position
Some of the key players are Purdue Pharma L.P; West-Ward Pharmaceuticals Corporation; Allergan; Pfizer, Inc.; Janssen Pharmaceuticals, Inc.; Egalet Corporation; and Sun Pharmaceutical Industries Limited. Most key players are focusing on entering untapped regions and expanding their product portfolios.

Thalassemia Market Size Worth $3.53 Billion By 2022

The global thalassemia market size is expected to be valued at USD 3.53 billion by 2022, as per a new report by Grand View Research, Inc., exhibiting a CAGR of 10.8% during the forecast period. Increase in demand for a universal cure, rise in awareness about the disease, and technological advancements are likely to increase the adoption of gene therapies.

Thalassemia is a general term for a group of inheritable blood disorders, in which the body produces abnormal hemoglobin, resulting in the destruction of red blood cells. This ultimately leads to anemia. There are two main types of thalassemia: alpha-thalassemia and beta-thalassemia, the latter being more serious. Beta-thalassemia is a common autosomal recessive disorder worldwide and it is relatively rare in the U.S.

Increase in the incidence of thalassemia is anticipated to fuel market growth. Despite technological advancements, the unmet need for a reliable treatment option still exists. Treatment of thalassemia is mostly restricted to regular blood transfusions and iron chelation therapy. Drugs prescribed for thalassemia mostly cure symptoms and side effects such as anemia, iron overload, and vitamin deficiency. However, gene therapy is emerging as a reliable treatment option for the disease.

Prevalence of thalassemia is reported to increase gradually over the years across different regions. This can be attributed to population migration, intermarriages, and genetic and environmental factors prompting the condition and its implications.

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

Further Key Findings From the Report Suggest:

The global thalassemia market is expected to expand at a lucrative CAGR of 10.8% over the forecast period because of improved safety and efficacy profiles of gene therapy
India and Thailand are expected to offer lucrative growth opportunities for market expansion
Some of the key players in the industry with promising pipeline products are bluebird bio, Inc.; Acceleron Pharma; Novartis AG; Incyte Corporation; Kiadis Pharma; Gamida Cell; and Celgene Corporation
Blood transfusion and iron chelation therapies were the preferred treatment options for thalassemia in 2016, owing to their higher usage, ease, and affordability. However, the segments are likely to lose market share over the forecast period due to the increase in adoption of curative gene therapy
Regionally, among the seven major markets, EU5 held the dominant share in terms of revenue in 2016, followed by U.S. and Japan
U.S. is expected to be the fastest-growing region with a lucrative CAGR from 2016 to 2022 due to an increase in the prevalence of the disease and presence of well-established healthcare services

Specialty Generics Market Size Worth $174.9 Billion By 2025

The global specialty generics market is expected to reach USD 174.9 billion by 2025, according to a new report by Grand View Research, Inc. Rise in demand for low-cost generic specialty drugs is a major factor estimated to accelerate the market growth during the forecast period. Introduction of cost-effective drugs for the treatment of multiple sclerosis, cancer, and other infectious diseases is expected to showcase huge opportunities for the specialty generic drug manufacturers. According to U.S. FDA, generic drugs cost 80% to 85% lower as compared to branded drugs. One of the factors contributing to their affordable price is that they do not need to repeat expensive clinical trials, advertising, and promotional activities. Thus, low cost of generic specialty drugs is expected to accelerate the demand for these medicines.

Rise in number of off-patent specialty drugs is another major factor expected to support growth of the specialty generic drugs market. For instance, the patent for Gilenya, a blockbuster drug by Novartis, will expire in 2019. This drug led to USD 3.1 billion in sales in 2016 for Novartis, with 14% sales growth. In April 2017, Novartis failed to acquire patent extension for Gilenya till 2026 in the U.S. Federal Circuit. Such early patent expirations are expected to boost the entry of new generics.

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http://www.grandviewresearch.com/industry-analysis/specialty-generics-market

Further Key Findings From the Report Suggest:

In 2016, injectables was the largest revenue-grossing segment in the market due to its high usage and efficacy in treatment of severe chronic diseases
The oncology segment accounted for the largest revenue share in 2016 and is expected to maintain its dominance during the forecast period due to worldwide rise in cancer prevalence
The specialty pharmacy was the largest revenue-generating segment in end use and is estimated to maintain its dominance during the forecast period. This is due to the fact that specialty pharmacies are dedicated to distribution of highlycomplex, costly, and high-touch medicine
North America dominated the total market in 2016 primarily due to the presence of highly developed healthcare infrastructure and local presence of large number of established pharmaceutical companies
The Asia Pacific market is estimated to grow at the highest growth rate during the forecast period. Rising prevalence of chronic diseases, developing healthcare infrastructure, and escalating disposable income in Asian countries, such as China and India, are major factors that can be attributed to the growth
Some of the major players are Teva Pharmaceuticals USA, Inc.; Mylan N.V.; Sandoz International GmbH; Akorn, Inc.; Mallinckrodt; Valeant Pharmaceuticals International, Inc.; Pfizer, Inc.; Endo Pharmaceuticals, Inc.; Apotex Corp.; Sun Pharmaceutical Industries Ltd.

5G Services Market Size Worth $414.50 Billion By 2027

The global 5G services market size is estimated to reach USD 414.50 billion by 2027, registering a CAGR of 43.9% from 2021 to 2027, according to a new study by Grand View Research, Inc. Rapidly rising demand for ultra-reliable and low latency data networks capable of providing enhanced mobile connectivity is estimated to boost the market growth over the forecast period. The potential adoption of 5G services for remote patient monitoring and remote surgery applications is also anticipated to propel the market growth from 2021 to 2027.

The 5G wireless technology is expected to completely transform the transportation and logistics industry by providing seamless vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity. As such, the need to ensure a strong, seamless, and uninterrupted connectivity with autonomous vehicles is estimated to drive the adoption of 5G services. Furthermore, robust deployment of 5G network infrastructure is estimated to improve the operational efficiencies in several IoT use cases, including smart homes, smart cities, and industry 4.0. Hence, rising need for high bandwidth in order to provide reliable communication to IoT devices is expected to elevate the overall market growth over the forecast period.

In some countries such as U.S., China, and Japan, the trend of monitoring energy systems of buildings remotely is rising gradually. This is expected to open new opportunities for rolling out 5G services over the forecast period. As such, growing need for remote asset monitoring, drone control and coordination, and smart grid control is anticipated to fuel the growth of the ultra-reliable low-latency communications (uRLLC) segment over the forecast period.

Key market players such as AT&T Inc.; China Telecommunications Corporation; and Verizon Communications are investing aggressively in rolling out 5G infrastructure to provide low-latency services for faster machine-to-machine (M2M) communication. However, these market players are expected to deliberate before making investments owing to the high 5G spectrum prices. Stringent governments’ regulations and policies pertaining to the 5G wireless technology are also expected to hinder the market growth. Moreover, due to the outbreak of the COVID-19 pandemic, the governments across key countries, such as U.S., Spain, U.K., and France, have postponed the auction for 5G spectrums. This is expected to hamper the market growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/5g-services-market

Further key findings from the report suggest:

In North America, U.S. is anticipated to reach nearly USD 145 billion by 2027 owing to rising demand for higher data speeds for several end-use applications, including M2M communications, energy and utility management, and smart mobility management
By communication type, the enhanced mobile broadband (eMBB) segment is anticipated to hold the largest market share by 2027 owing to the increased emphasis by key market players on rolling out high-speed and low-latency data networks for residential and commercial applications, such as video conferencing, virtual meeting, and VR/AR gaming
Based on vertical, the manufacturing segment is expected to register the fastest CAGR of 49.0% over the forecast period owing to rapidly increasing need for seamless connectivity to drive industrial devices, including robots, and actuators
Market incumbents are focusing on mergers and acquisitions for delivering 5G services in order to strengthen their market presence and expand their product portfolios.