Heat Treating Market Size Worth $122.34 Billion By 2025

The global heat treating market size is expected to reach USD 122.34 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 3.5% CAGR during the forecast period. Increasing penetration of metal treatment services in automotive, aerospace, construction, energy, and metalworking applications is expected to act as a key market driver over the forecast period.

Steel is a key material used in the metal heat treatment industry. Increasing use of steel in construction and machining applications is projected to positively impact segment growth over the forecast years. Other metals commonly used include aluminum, iron, copper, and nickel. Aluminum is expected to witness significant growth on account of increasing penetration of the metal in aerospace and automotive industries.

The most commonly used processes for heat treatment include hardening and tempering, case hardening, and annealing. Case hardening is expected to witness significant growth over the forecast period due to growing popularity of carburizing, nitrding, and carbonitriding for surface hardening in metalworking and machining applications.

Automotive emerged as the dominant application segment in terms of market share in 2016. However, aerospace is expected to witness highest growth during the next eight years on account of a rapidly-growing aerospace industry in emerging economies worldwide. Companies in the domain including Bluewater Thermal Solutions; Bodycote Heat Treatments Ltd.; Summitglow Ltd.; Ajax Tocco International; and Metcor Inc. are involved in furnace manufacturing, treatment services, and surface treatment facilities.

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Further key findings from the report suggest:

The heat treating market was valued at USD 90.73 billion in 2016 and is expected to exhibit a CAGR of 3.5% from 2017 to 2025. The market is primarily driven by increasing demand for metal treatment services from key end-use verticals
The cast iron material segment was valued at USD 9.43 billion in 2016 and is projected to witness comparatively slower growth over the forecast period. This can be attributed to increasing use of other metals such as aluminum, copper, titanium, and nickel in various end-use industries
In 2016, the case hardening process segment was valued at USD 23.99 billion, expanding at the highest CAGR of 3.7% over the forecast period. This growth can be attributed to increasing use of carburizing for surface hardening as opposed to conventional hardening
Asia Pacific dominated the global market in terms of revenue; the market was valued at USD 34.21 billion in 2016 and is projected to expand at a CAGR of 3.9%. Rapid growth in key end-use industries across emerging economies of India, China, Indonesia, and Vietnam, among others is expected to benefit regional market growth over the forecast years
Key industry participants are engaged in technical collaborations, mergers with furnace manufacturers, and strategies to expand geographical reach in order to increase profit margins and application portfolios.

Image-Guided & Robot-Assisted Surgical Procedures Market Worth $5.6 Billion by 2025

The global image-guided and robot-assisted surgical procedures market size is expected to reach USD 5.6 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 14.6% over the forecast period. An increasing number of complex surgeries, trauma cases, and rapid technological advancements in image-guided robots are expected to propel revenue growth in this market.

Surgical procedures have witnessed a transformation due to technological advancements such as microscopic cameras, three-dimensional (3D) imaging, motion sensors, and remote navigation and robotic catheter control systems in image-guided robots. This, in turn, has enhanced surgical outcomes. The introduction of surgical robots is another factor influencing overall positive health outcomes owing to reduced surgical time and errors. Da Vinci Surgical robot is the most widely used system for complex surgeries. It is accompanied by a computer-enhanced system and enhances its capability of performing laparoscopic surgeries.

Urology surgery was the dominant procedure segment of the global image-guided and robot-assisted surgical procedures market with a share of 38% in 2016. Some of the urological surgeries performed by medical robots include prostatectomy, partial nephrectomy, cystectomy, and pyeloplasty. Da Vinci system is also used to perform complex gynecological procedures such as hysterectomy and sacrocolpopexy. Adoption in surgical procedures helps reduce blood loss and recovery period. An increasing number of surgical procedures using Da Vinci system is expected to drive overall market growth in the near future.

North America accounted for the largest share in the global image-guided and robot-assisted surgical procedures market followed by Europe in 2016. The U.S. accounted for 58.8% of the total global market share in 2016 mainly due to higher penetration of robotics and increasing awareness about minimally-invasive surgeries. Developing economies such as Latin America and Middle East & Africa have witnessed lower adoption owing to the existence of price-sensitive end users. Asia Pacific is projected to expand at a CAGR of 16.4% over the forecast period owing to factors such as improving healthcare infrastructure and increasing penetration of image-guided robots. These factors are expected to contribute to regional demand in the near future.

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Further key findings from the report suggest:

North America held the largest market share in 2016 due to high investment, increasing demand for robot-assisted surgeries, and adoption of robotics
The U.S. was the largest market with 58.8% of the global market share in terms of revenue in 2016
Asia Pacific is anticipated to be the fastest-growing market at a CAGR of 16.4% between 2017 and 2025 owing to rising demand and technological advancements
Some of the key players in the image-guided and robot-assisted surgical procedures market are Crouse Hospital, St. Vincent, St. Clair Hospital, Northwest Hospital & Medical Center, Atlantic Health System, The Princess Grace Hospital, Apollo Hospitals Enterprise Ltd., Medanta The Medicity, and George Washington University Hospital.

Portable Medical Devices Market Size Worth $85.3 Billion By 2025

The global portable medical devices market size is expected to reach USD 85.3 billion by 2025. It is anticipated to expand at a CAGR 8.7% over the forecast period, according to a new report by Grand View Research, Inc. The market is majorly driven by the increasing adoption of portable therapeutics, diagnostics, and monitoring devices in healthcare facilities. Growing usage of small, lightweight, and handheld devices such as spirometers that help in diagnosing the respiratory diseases is anticipated to provide significant traction to the global market in the forthcoming years.

Furthermore, the upward trend of preventive healthcare and subsequently rising adoption of smart wearables are among other factors boosting the growth of the market for portable medical devices. Fitness trackers and smartwatches exhibit features that offer healthcare benefits. Wearables compute data from day to day activities of users. This data can be used by the physicians to decide a treatment plan.

The rising geriatric population coupled with high prevalence of chronic diseases is also projected to boost the market. Rising adoption of portable devices such as cardiac monitoring, respiratory monitoring, and image-guided therapy systems for the management of chronic conditions such as diabetes, cardiovascular diseases, and respiratory diseases is anticipated to bode well for market growth in the near future. According to the American Cancer Society (ACS) estimates from 2012, the global incidence of cancer is expected to reach nearly 21.7 million by 2030. This is anticipated to drive demand for advanced imaging and therapeutic technologies, which, in turn, is expected to drive the portable medical devices market.

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Further key findings from the report suggest:

In 2017, monitoring devices held the largest market share in terms of revenue owing to increasing adoption of monitoring systems by hospitals, clinics, and other healthcare facilities for better disease management
Smart wearable devices segment is expected to expand at the fastest CAGR 19.0%over the forecast period owing to a rising focus on preventive healthcare
Other applications held the largest market share in 2017. Gynecology segment is anticipated to expand at the fastest CAGR over the forecast period
North America accounted for the largest revenue share of 41.7% in 2017 owing to the high adoption of technologically advanced devices and high treatment rates. However, Asia Pacific is expected to register the fastest CAGR over the forecast period
Key players in the portable medical devices market include General Electric Company, OMNOR Corporation, VYAIRE, SAMSUNG, Koninklijke Philips N.V., Medtronic, F.Hoffmann-La Roche Ltd, and Nox Medical

Monoclonal Antibodies Market Size Worth $138.6 Billion By 2024

The global monoclonal antibodies (mAbs) market was valued at USD 85.4 billion in 2015 and is expected to reach a value of USD 138.6 billion by 2024. Increasing R&D pertaining to the development of therapeutic mAbs coupled with supportive government initiatives is expected to drive the monoclonal antibodies market growth over the forecast period.

Increasing demand for personalized medicine is a vital factor responsible for the increasing development of therapeutic antibodies to provide targeted therapies as every individual responds in a different manner to a particular treatment. Moreover, related benefits of using mAbs for therapeutic purposes, including fewer adverse effects, homogeneity, specificity, and large-scale production, are contributing to significant market growth.

In addition, the government initiatives to enable the cost-effective production of mAbs are anticipated to propel the emergence of this sector over the forecast period. For instance, the biomanufacturing initiative by the National Institute of Standards and Technology in the U.S. provides scientifically sound regulatory guidelines to ensure effective and safe manufacturing of protein therapeutics and to support biopharmaceutical manufacturers in offering low-cost and high-quality protein drugs across the globe.

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http://www.grandviewresearch.com/industry-analysis/monoclonal-antibodies-market

Further Key Findings From the Study Suggest:

The human-based mAbs segment is predicted to grow at a lucrative CAGR in the coming years due to their associated benefits and numerous R&D activities conducted for further development of human mAbs. A large number of mAbs of human origin are in phase III clinical trial for cancer treatment
In vitro production of mAbs is anticipated to show the fastest growth owing to its wide-scale adoption by biologics manufacturers due to its greater efficiency in cost and time
The research institute segment is anticipated to exhibit profitable growth due to increasing R&D efforts in the biotech industry as monoclonal antibodies have emerged as a major class of therapeutics for several human diseases, particularly immunological infectious diseases and cancer
The Asia Pacific region has significant growth potential due to rising government initiatives in this region supporting the use of mAbs for research and treatment purposes coupled with the surge in sponsored R&D projects for the development of cost-effective therapeutic mAbs.
For instance, government-led fund providers, such as the National Natural Science Foundation and the National Basic Research Program of China, offer financial support to enterprises and universities to conduct mAb research and development.
The key players serving the monoclonal antibodies market are Pfizer, Inc., GlaxoSmithKline plc, Novartis AG, Merck & Co., Inc, Amgen, Inc., Abbott Laboratories, AstraZeneca, Eli Lilly and Company, Mylan N.V., Daiichi Sankyo Company, Ltd., Bayer AG, Bristol Myers Squibb Co., Johnson & Johnson Services, Inc., Biogen Inc., Thermo Fisher Scientific, Inc., Sanofi Genzyme, F. Hoffmann-La Roche Ltd., and Novo Nordisk A/S.
The introduction of advanced methods for mAb production further encourages pharmaceutical companies to build their own product pipeline. According to a study published by NCBI at the end of 2013, approximately 816 companies were involved in therapeutic protein research.

Cardiovascular Information System Market Worth $1.2 Billion By 2024

The global cardiovascular information system market is expected to reach USD 1.2 billion by 2024, according to a new report by Grand View Research Inc. The global cardiovascular devices industry is growing swiftly owing to the increasing prevalence of heart diseases and other cardiovascular problems.

In accordance with the growing patient population there is an exponential surge in the patient history documents and patient data records. The resultant, rising burden of patient data is pushing forward the demand for effective management tools; thus, offering increased accessibility of patient information to surgeons and the healthcare staff and hence enhancing the operational efficiency of the practices. In addition, factors, such as technological advancements and the gradually growing awareness regarding the availability of these improved systems are expected to fuel the growth of the cardiovascular devices market.

However, factors, such as high system costs and the lack of skilled operators are impeding the overall growth. In addition, the presence of alternative data management tools is challenging the adoption of the information systems specific to cardiovascular data management. Some of the key players in the market are implementing strategies to expand market share. For instance, companies, such as Philips Healthcare and GE Healthcare offer CVIS systems along with their cardiac imaging products.

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Further key findings from the study suggest:

The CVIS segment captured the largest market share of the global market in 2015. Integration of these systems with imaging devices is responsible for the highest adoption rate of this segment.
Owing to the high cost of these systems, the CVIS segment is expected to maintain its dominance during the forecast period
The cloud-based segment is anticipated to exhibit the fastest growth rate during the forecast period. The associated advantages, such as the affordable cost, remote accessibility of data, and the user friendly interface, are expected to fuel the adoption of the cloud-based mode of operation.
North America captured the largest market share of around 36% in 2015. The dominance of the segment is expected to continue with a CAGR of 5.8% from 2016 to 2024.
The factors contributing to the growth of the North America market include the increasing prevalence of heart diseases and the technological advancements in the region. Moreover, factors, such as the availability of highly advanced healthcare facilities and the higher adoption rate of the data management tools are augmenting the market growth in North America.
Asia Pacific is anticipated to grow at the fastest rate during the forecast period. Countries, such as India and China are expected to be the fastest growing markets in the region owing to the large pool of cardiovascular patients and the rising healthcare expenditure.
The booming medical tourism in Asia Pacific due to the availability of advanced healthcare facilities and services at a lower cost in comparison to the other developed countries serves as the pivotal factor in attracting cardiac patients worldwide to this region.
Some major players in this market include Philips Healthcare, GE Healthcare, McKesson Corporation, Siemens Healthcare GmbH, Merge Healthcare, Inc., Agfa Healthcare N.V., Cerner Corporation, Fujifilm Medical Systems, Inc., Lumedx Corporation, and Digisonics, Inc.

Software Defined Storage Market Worth $17,461.9 Million By 2024

The software defined storage (SDS) market size is expected to reach USD 17,461.9 million by 2024, according to a new study conducted by Grand View Research, Inc.

The emergence of the Big Data technology is anticipated to impel growth in the global software defined storage market. Technological propagation, coupled with benefits such as high flexibility and cloud storage, is instrumental in keeping the industry prospects upbeat. The technology facilitates the efficient management and control of complex networks through proficient resource data traffic management.

The advancements in the cloud technology, its availability, and wider access to cloud-based platforms are favorably impacting the industry. Various enterprises across the globe are experiencing the need for minimizing infrastructure development and data storage center costs which are significantly contributing toward theexpansion of the industry.

Enterprises across diverse verticals are generating excessive data, creating the need for effective data storage management solutions. SDS solutions offer high agility and robustness to businesses along with cost and time efficiency.

The industry is projected witness significant growth in the developing markets of South America and the Asia Pacific regions, owing to thestrong growth of the small-scale industries. The need for improving the efficiency and business processesin data centers is driving the demand for SDS solutions in small and medium-sized enterprises.

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Further key findings from the report suggest:

The BFSI segment dominated the global software defined storage industry, accounting for over 17% of the market share in 2015. The large-scale data generation in the banking and financial institutions and the need for incessant data availability are leading to the large-scale adoption of SDS solutions in the BFSI sector.
The North American regional market accounted for over 40% of the global revenue share in 2015. The strong presence of software defined storage solution vendors in the region is expected to contribute to the industry growth in the region. Asia Pacific is expected to emerge as the fastest-growing regional market. The rise of small-scale industries in the developing markets of India and China is driving the regional growth.
Small and medium-sized enterprises accounted for over 30% of the global revenue share in 2015. The growth of Small and Medium-Sized Business (SMB) units across the globe, owing to the favorable government initiatives, is substantially driving the demand for SDS solutions among the small and medium-sized enterprises.
The major vendors include Brain Corporation (U.S.), Hewlett-Packard (U.S.), HRL Laboratories, LLC (U.S.), Intel Corporation (U.S.), Numenta, Inc. (U.S.), and Vicarious FPC, Inc. (U.S.). Industry vendors are emphasizing on new product developments and forming technology alliances to gain a competitive edge in the industry.

Photonic IC Market Projected To Reach $3.54 Billion By 2024

The photonic IC market is expected to reach USD 3.54 billion by 2024 according to a new report by Grand View Research, Inc. Photonic IC is an integrated circuit that uses optical wavelength as an information signal and provides multiple integrated photonic functions. Photonic IC, as such, is similar to an electronic IC and can be a viable replacement for it as well as for the copper-based wired transmission. Photonic IC forms an integral part of lasers, optical amplifiers, modulators, and MUX/DEMUX components, which are extensively used in the optical signal processing, optical communication, biophotonics, and sensing applications. The growing demand for sensing and optical devices are expected to fuel the growth of the photonic IC market.

There is an increasing need for cost effective, power efficient, and compact PICs which would further propel the photonic IC market over the forecast period across the mobile broadband Internet access, high-performance computing, datacenter, and enterprise networking, along with metro and long haul data communications, among many others. The increasing adoption of the high-level integrated PICs and application-specific PICs would boost the photonic IC market to strive for greater functionality and new product development across a number of verticals.

The photonic IC market is anticipated to grow substantially due to the continuous technological advancements and the evolving end-user demands. The laser, optical amplifier, and MUX/DEMUX component segments possess enormous growing opportunities, owing to the ability of photonic ICs to incorporate new optical functionalities that can be embedded on a single chip to achieve high efficiency and compactness.

The increasing demand for the optical communication and sensing applications is driving the growth of photonic ICs around the globe with an efficient management of datacenters and long haul networks providing a thriving market for them. Moreover, with the advancements in quantum computing, the adoption of photonic ICs are increasing as they allow multitasking that quantum computing readily requires. Also, the growing adoption of the biophotonic application in medical devices also holds considerable growth opportunities for the photonic ICs market. On the other hand, the high bandwidth and optimum performance requirements of the telecommunication industry, data storage, cloud service providers, and large business enterprises are expected to boost the optical communication and signal processing segments. This market will create many new opportunities culminating in an increased adoption of photonic ICs over the forecasted period.

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Further key findings from the report suggest:

There is a growing need for higher bandwidth and greater transmission speeds across the Information and Technology (IT) industry. Photonic ICs can be incorporated into the existing products to fulfill this demand in diverse industry verticals to transmit, receive, and switch high-speed digital signals in communication networks. Progressive research and developments are being made towards the low-cost, high-performance optics to help lower the cost of the high-speed Internet access and boost the efficiency of the telecommunication networks
The growing shift towards quantum computing and machine learning, among others, requires enormous parallel computing capabilities. The optical quantum computers can perform much faster than the traditional computers in terms of multitasking, higher level of integration, and efficiency while consuming lower power. This will open new avenues for photonic IC-based computing services across a wide range of verticals.
Broadcom Limited (U.S.), Viavi Solutions, Inc. (U.S.), and NeoPhotonics Corporation (U.S.) are some of the major industry players in this domain. Other key vendors include Oclaro, Inc., Kaiam Corp, Luxtera Inc., Infinera Corp., Finisar Corporation, Ciena Corporation, and Emcore Corporation, among others.

Healthcare Cyber Security Market Worth $10.85 Billion By 2022

Global healthcare cyber security market size is expected to reach nearly USD 10,848.87million by 2022, according to a new report by Grand View Research, Inc. Key factors attributing to the growth of the market include the increasing incidences of cyber attacks for misuse of electronic patient health records (E-PHR), social security records, IP theft, and others.

Cyber attacks are constantly increasing across the globe. On previous encounters it was witnessed that cyber attacks were focused on stealing, financial information, billing information, and bank account numbers using stolen devices with un-encrypted data, phishing and spam mails. Technological advancements have led to advanced cyber warfare using SQL injections, advanced persistent threats (APT), zero day attacks, and advanced malware.

Lack of adequate IT spending by healthcare organizations and lack of awareness about cyber crime have exposed the vulnerabilities of healthcare organizations. The overall impact of cyber attacks on the hospitals and healthcare systems is estimated to be nearly six billion per year.

Furthermore, these organizations face internal threats due to factors such as the use of cloud services, unsecure networks, employee negligence, bring your own device (BYOD), lack of internal identification and security systems, stolen devices with un-encrypted files.

Healthcare cyber security market is segmented by, type of threat into malware, ddos, advanced persistent threat (apt), spyware, lost and stolen devices, others. In 2013, Boston Scientific, St.Jude Medical and, Medtronic witnessed cyber attacks and hacking. In 2015, Anthem, which is the second largest health insurance provider in the U.S., witnessed a massive cyber attack leading to loss of 80 million customer records.

Security information and event management (SIEM),risk and compliance management, DDoS mitigation, antivirus, antimalware, identity and access management, intrusion detection system (IDS)/intrusion prevention system (IPS) and others are the solutions included in the scope of the study. These solutions can be used individually or can be used as a suite of products providing layer wise security.

Market dynamics in this sector are dependent on the type of threat, effectiveness, and frequency of attack, ability to detect and destroy. New types of threats are detected each day, hence, the solutions need to be upgraded constantly to provide adequate firewall security and prevent data breach.

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http://www.grandviewresearch.com/industry-analysis/healthcare-cyber-security-market

Further key findings from the study suggest:

In 2014, North America held the largest market share of more than 41% owing to the presence of sophisticated healthcare infrastructure, and increasing collaboration between pharmaceutical, medical device industries, with regulatory authorities. This can be illustrated using the U.S FDA guidance document on networked medical devices.
Furthermore, the U.S. is a prime target for cyber crimes due to, the presence of large fortune 500 healthcare organizations, full scale implementation of digital patient records, and use of extensive social security ids for various transactions.
Asia Pacific is identified as one of the most lucrative regional market, growing at a CAGR of over 8.5% during the forecast period. Rapidly improving healthcare infrastructure and high level economic growth in developing countries such as China, India, and South Korea is expected to boost usage rates over the forecast period.
Increasing number of internet users in China and India is expected to create a huge user base vulnerable to cyber attacks. According to data published by the Internet and Mobile Association of India (IAMAI), the internet user base in India is expected to reach nearly 402 million by December 2015
Key players operating in the healthcare cyber security market include, Cisco, IBM, MacAfee, Paulo Alto Networks, Symantec, Trend Micro Lockheed Martin, FireEye, Northrop Grumma, Kaspersky etc.

Aminoglycoside Market Size To Reach $1.68 Billion By 2022

Global aminoglycoside market is expected to reach USD 1.68 billion by 2022 growing at an estimated CAGR of 3.5% from 2015 to 2022, according to a new report by Grand View Research, Inc. This expected growth in demand can be ascribed to the increasing incidences of animal disease outbreaks leading to high utilization of antibiotics.

However, reduction in prescription rate of aminoglycoside antibiotics due to side effects associated with usage of these drugs that include severe ototoxicity, nephrotoxicity, and neuromuscular blockade are expected to affect the market growth negatively. Furthermore, regulatory disapproval for the usage of certain aminoglycoside in regions is also anticipated to attribute for subordinate growth in this industry.

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Further key findings from the report suggest:

Neomycin and tobramycin together contributed for over USD 600 million as revenue in this market owing to higher usage and prescription of these drugs for treatment of different bacterial infections. Neomycin finds higher usage in topical formulations for treatment of different skin infections.
Injectables accounted for the largest share of revenue amongst other routes of administration owing to higher usage for treatment of tuberculosis, MDR-TB, and XDR-TB. Use of second line anti tuberculosis drugs such as kanamycin & capreomycin by global organizations is attributive for generation of maximum revenue in this segment.
Human use for treatment of respiratory disorders accounted for largest share in applications segment owing to rise in global incidence of tuberculosis. Furthermore, other bacterial infections of respiratory tract that can be treated using aminoglycoside class of antibiotics are anticipated to contribute for expected growth in this segment.
Veterinary treatment is expected to boost industrial growth in the coming years owing to higher incidence of animal diseases outbreaks. However, these drugs have restrictive regulations for administration to food-producing animals as it may lead to toxic effects and resistance development on humans after consumption of animal originated food.
Asia Pacific was the largest market, accounting for over 40% of revenue in aminoglycoside industry owing to, the presence of market players in this region coupled with higher rate of tuberculosis incidences herein.
South Africa spearheaded growth in the MEA market. The presence of relatively higher demand and consumption of injectable solutions in this region because of increase in incidence rate of MDR-TB and other drug resistant infections are some regional growth drivers.
Key participants of the aminoglycoside market include Vega Pharma Ltd., Kremoint Pharma Pvt. Ltd, Xian Wison Biological Technology Co., Ltd., Jiangxi Bolai Pharmacy Co., Ltd., Medson Pharmaceuticals, Hangzhou Uniwise International Co., Ltd., Yi Chang Veterinary Medicine Factory, HuvePharma, and Medico Remedies Pvt. Ltd.
Market players are involved in the development of products with newer formulations and lesser side effects in order to treat eradicate bacterial infections that are resistant to other class of antibiotics.

Narcolepsy Therapeutics Market Size To Reach $3.85 Billion By 2025

The global narcolepsy therapeutics market is expected to reach USD 3.85 billion by 2025, according to a new report by Grand View Research, Inc. The increasing awareness about this sleep disorder among public and healthcare providers is a key factor contributing to the market growth.

The Narcolepsy Network has estimated that out of every 2,000 people 1 is afflicted by this condition. Moreover, Narcolepsy UK states that around 25% patients are identified and remaining 75% are untreated as they remain undiagnosed or are misdiagnosed, which is alarming. Some organizations and networks are constantly working to spread awareness about this condition among the patients and physicians.

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http://www.grandviewresearch.com/industry-analysis/narcolepsy-therapeutics-market

Further key findings from the report suggest:

The narcolepsy therapeutics market is expected to grow substantially owing to the worldwide increasing incidence of this disorder.
Narcolepsy with cataplexy was identified as the largest type segment in 2016. It is expected to retain its position throughout the forecast period owing to the rising cases of cataplexy in patients suffering from narcolepsy.
Narcolepsy without cataplexy is likely to witness the fastest growth over the forecast period due to increasing awareness about Excessive Daytime Sleepiness (EDS) through various mediums, such as awareness campaigns
Sodium oxybate dominated the product segment in terms of revenue share in the year 2016, and it is also expected to be the fastest growing segment over the forecast period. Drugs belonging to this class have higher costs and favorable coverage policies.
Xyrem is the only FDA-approved drug in this category and is extensively prescribed for the treatment of cataplexy and EDS. American Academy of Sleep Medicine (ASSM) recommends it as a standard treatment of this disorder.
Europe dominated the regional market in terms of revenue share in 2016 because of increase in capital investments and existence of established healthcare infrastructure along with a large target population
The H1N1 influenza postvaccination pandemic of the year 2009 has resulted in growth of number of narcolepsy patients
Asia Pacific is likely to exhibit fastest growth during the forecast period due to the rising healthcare expenditure in this region, rising awareness among people, highest prevalence in Japan, and presence of emerging economies such as China & India
Some of the major market players are Jazz Pharmaceuticals PLC;Teva Pharmaceutical Industries Ltd.;Graymark Healthcare, Inc.;Addrenex Pharmaceuticals, Inc.; and BIOPROJET.
Mergers and acquisitions are strategic initiatives undertaken by these market players in an attempt to remain competitive. In addition, companies are expanding their geographical presence to untapped markets.