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Handheld Imaging Devices Market : Business Overview and Global Development Trends

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Handheld Imaging Devices Market: Introduction

According to the report, the global handheld imaging devices market was valued at approximately ~US$ 950 Mn in 2018. It is expected to expand at a CAGR of ~13% from 2019 to 2027. Handheld imaging devices are mobile or portable imaging devices or scanners that are used to visualize internal organs or scan body parts for diagnosis of different diseases and determine an action plan for further treatment. Handheld imaging devices are utilized in various applications to scan body parts for the diagnosis of different diseases. They are portable and convenient to use both for patients and physicians for early screening of diseases.

Expansion of the global handheld imaging devices market can be ascribed to rising prevalence of chronic diseases across the world. Asia Pacific is a highly lucrative market for handheld imaging devices owing to an increase in the geriatric population, which is more prone to chronic diseases, and rise in awareness about early diagnosis of diseases. North America dominated the global handheld imaging devices market in 2018. It is projected to maintain its dominance during the forecast period due to higher prevalence of diseases and recently approved products such as handheld ultrasound and X-ray scanners.

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Increase in Geriatric Population and Incidence of Chronic Diseases to Drive Handheld Imaging Devices Market

The global population is aging rapidly, especially in developed countries. This geriatric population is prone to various chronic diseases such as cardiovascular diseases, cancer, and diabetes. Incidence and prevalence of chronic diseases fuels the demand for access to early diagnosis using efficient and easily available imaging devices. This drives the global handheld imaging devices market. For instance, according to the WHO, 2,129,118 new cancer cases were reported in the U.S. in 2018.Technological advancements in terms of portability, apps, and software for diagnostic imaging is a major factor driving the global handheld imaging devices market. Moreover, increase in number of approved handheld imaging devices by different regulatory authorities across the world and a surge in inclination toward point-of-care diagnostic tools are major factors propelling the global handheld imaging devices market.

High Demand for X-ray/Fluoroscopy Scanners

Based on product, the handheld imaging devices market has been segmented into X-ray/fluoroscopy scanners, optical imaging devices, ultrasound scanners, near infrared (NIR) spectroscopy scanners, and optical coherence tomography (OCT) scanners. The X-ray/fluoroscopy scanners segment dominated the handheld imaging devices market in 2018. Dominance of the segment can be attributed to a rise in applications of X-ray devices in the dental and orthopedic fields, increase in the demand for handheld devices, and ease of scanning for both physicians and patients. Ultrasound scanners is projected to be a highly lucrative segment of the market during the forecast period due to a rise in the demand for handheld ultrasound scanners in specialty clinics for initial screening due to quick examination and price revision in recent years done by several major companies operating in the handheld imaging devices market.

Advancements in Devices to Drive Global Market

In terms of component, the handheld imaging devices market has been divided into devices, apps & software, and accessories. The devices segment dominated the global market in 2018. It is also estimated to expand at a higher CAGR during the forecast period owing to the launch of advanced versions of devices with additional features and affordability of devices in specialty clinics for early examination.

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Demand for Intraoral X-ray Procedures to Fuel Market Growth

In terms of application, the global handheld imaging devices market has been classified into ophthalmology, endocrinology, urology, gynecology & obstetrics, dermatology, dentistry, cardiology and vascular, orthopedics, and others. The dentistry segment dominated the global handheld imaging devices market in 2018. It is projected to maintain its dominance during the forecast period owing to an increase in the demand for intraoral X-ray procedures across the world and a rise in the prevalence of dental diseases. Orthopedics segment is anticipated to be a highly lucrative segment of the global handheld imaging devices market during the forecast period. Rise in geriatric population prone to orthopedic complications and an increase in emergency care cases due to accidents and injuries are major factors that are likely to drive the segment.

Specialty Clinics to Offer Lucrative Opportunities

Based on end user, the global handheld imaging devices market has been segmented into hospitals, diagnostic imaging centers, specialty clinics, and others. Specialty clinics is projected to be a highly lucrative segment during the forecast period. It is estimated to expand at a notable CAGR for the same period. Cost-effectiveness of handheld imaging devices and training initiatives to operate handheld imaging devices by major companies are key factors driving the specialty clinics segment.

North America to Dominate Global Market

Based on region, the global handheld imaging devices market has been divided into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global handheld imaging devices market in 2018. The region is expected to maintain its dominance during the forecast period. Rise in prevalence of different chronic diseases in the region associated with aging population and recent approval of products in this market are major factors propelling the market in the region. Asia Pacific is a lucrative market for handheld imaging devices. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period, due to an increase in the geriatric population coupled with a rise in patient pool affected by different diseases and availability of affordable products in the region.

Competition Landscape

GE Healthcare (GE Electric Company), Koninklijke Philips N.V., and Siemens Healthineers are some of the leading players in the global Handheld Imaging Devices market. The global handheld imaging devices market is fragmented in terms of number of players. Key players in the global market include GE Healthcare (GE Electric Company), Koninklijke Philips N.V., Siemens Healthineers, FUJIFILM Corporation, Micro C, LLC, Butterfly Network, Inc., Clarius Mobile Health, InfraScan, Inc., KaVo Dental, and MolecuLight, Inc. New product approvals for specific applications, higher R&D investment, collaborations, strategic partnerships, and price revision for products are key strategies adopted by major players operating in the market

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posted Feb 10 by Bella Watson

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Transparency Market Research (TMR) has published a new report on the systemic lupus erythematosus treatment market for the forecast period of 2019–2027. According to the report, the global systemic lupus erythematosus treatment market was valued at ~US$ 1.7 Bn in 2018, and is projected to expand at a CAGR of ~7% from 2019 to 2027.

Systemic Lupus Erythematosus Treatment Market: Overview

  • Growth of the global systemic lupus erythematosus treatment market can be attributed to rise in the incidence of systemic lupus erythematosus, and promising drug pipeline and approvals.
  • North America dominated the global systemic lupus erythematosus treatment market in 2018, and the trend is anticipated to continue during the forecast period. Highly structured healthcare industry, early new product adoption, and the presence of major market players are expected to drive the market in North America.
  • Asia Pacific is expected to be a highly lucrative market for systemic lupus erythematosus treatment, expanding at a high CAGR during the forecast period.

Immunosuppressive Drugs to Dominate Market

  • Based on drug, the global systemic lupus erythematosus treatment market has been divided into antimalarial drugs, non-steroidal anti-inflammatory drugs (NSAIDS), corticosteroids, immunosuppressive drugs, and others (biologics, B-cell modulators, etc.).
  • The immunosuppressive drugs segment dominated the global systemic lupus erythematosus treatment market in 2018, and the trend is likely to continue during the forecast period.
  • Immunosuppressive drugs such as azathioprine, cyclophosphamide, and methotrexate help control inflammation and the overactive immune system in the treatment of SLE. Furthermore, increase in the popularity of methotrexate as a treatment option is likely to boost the growth of this segment.
  • The immunosuppressive drugs segment can be further segmented into azathioprine, cyclophosphamide, methotrexate, and others. In terms of immunosuppressive drugs, the azathioprine sub-segment is anticipated to dominate the market.

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Oral Mode of Delivery to be Popular

  • In terms of mode of delivery, the global systemic lupus erythematosus treatment market can be divided into intravenous, subcutaneous, and oral.
  • The oral segment dominated the global systemic lupus erythematosus treatment market, due to an increase in the preference for self-administration of drugs such as immunosuppressive drugs, antimalarial drugs, and corticosteroids. This, in turn, is projected to drive the segment during the forecast period.
  • Furthermore, major market players are focusing on the launching of new products in the tablet and capsule form. This is likely to boost the growth of the segment during the forecast period.
  • The intravenous segment is expected to be a highly lucrative segment of the market during the forecast period. The intravenous route helps in the immediate delivery of drug, and since the delivery is into a vein, the drug starts working immediately. Moreover, drug degradation is less as compared to the oral route of administration.

Retail Pharmacies Accounted for Major Share of Market

  • Based on distribution channel, the global systemic lupus erythematosus treatment market has been segmented into hospital pharmacies, retail pharmacies, and online sales.
  • The retail pharmacies segment dominated the global systemic lupus erythematosus treatment market in terms of revenue in 2018, and the trend is projected to continue during the forecast period. Increase in the number of retail pharmacy stores across the globe, availability of new products in retail stores, and availability of most of the drugs, such as NSAIDS, antimalarial drugs, and corticosteroids, as OTC drugs in retail stores, are likely to propel this segment during the forecast period.
  • Hospital pharmacies is expected to be the second-most lucrative segment of the global systemic lupus erythematosus treatment market during the forecast period. The segment is expected to expand at a significant CAGR from 2019 to 2027,due to an increase in the demand for recently launched new products for systemic lupus erythematosus treatment.

North America to Dominate Global Market

  • In terms of region, the global systemic lupus erythematosus treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the global systemic lupus erythematosus treatment market in 2018, followed by Europe.
  • North America accounted for a major share of the global systemic lupus erythematosus treatment market in 2018, owing to an increase in the use of systemic lupus erythematosus treatment products, especially for various symptoms of the disease. Additionally, the launch of new products by major pharmaceutical manufacturers fuels the market in this region.
  • The systemic lupus erythematosus treatment market in Asia Pacific is likely to expand at a high CAGR from 2019 to 2027. This can be attributed to an increase in the prevalence of systemic lupus erythematosus, improving healthcare infrastructure in terms of better facilities, and rise in the demand for advanced products. According to a latest study, the prevalence was in the range of 4.3 to 45.3/100,000 person per year.

Systemic Lupus Erythematosus Treatment Market: Competitive Landscape

  • The global systemic lupus erythematosus treatment market is fragmented in terms of number of players.
  • Key players operating in the global market include GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd., Pfizer, Inc., AstraZeneca, Merck & Co., Inc., Bristol-Myers Squibb Company, Anthera Pharmaceuticals, Inc., ImmuPharma PLC, and Aurinia Pharmaceuticals, Inc.

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The antimicrobial ingredients market is expected to register robust growth. The growing safety concerns are expected to drive demand of antimicrobial ingredient laden products into new sectors. For example, conventionally the growth of antibacterial ingredients market remained limited in the industrial sector at large in healthcare.

However, with the availability of hand-held sprays, antimicrobial products can be widely seen in homes for countertops, used to disinfect children’s toys, used in shopping malls for grocery carts, among others. The antimicrobial ingredients market is also expected to gain more traction in the near future as safeguards against pets, people, and other living things continues to become more important.

Key Trends in the Antimicrobial Ingredients Market

  • Antimicrobial ingredients are expected to rise in demand in the cosmetic sector. Cosmetic sector is undergoing immense pressure to bring in healthy ingredients, thanks to growing public awareness. The rise of social media has fuelled a drive for healthy cosmetics which is expected to continue in the near future. Additionally, antimicrobial ingredients like lactic acid, acetic acid, citric acid, and their salts are proven to reduce fatigue and promote freshness. These qualities are potentially highly appealing for end-consumers. Moreover, top athlete’s cases like Michael Philip’s case has also improved visibility for antimicrobial ingredients like lactic acid. One of the major challenge in deploying antimicrobial ingredients continues to be natural use of the raw ingredients and marketing of the raw materials for higher profit margins. The rise of social media, and growing demand for cosmetics thanks to trends like social media influencers are expected to drive growth of the growth of the antimicrobial ingredients market.

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  • The dry form of antimicrobial ingredients is expected to dominate growth of the antimicrobial ingredients market. The dry form is expected to account for 66% of the total revenues in the antimicrobial ingredients market. The cost-effectiveness of these products and easier mechanisms of storage, transportation, and packaging are expected to account for higher growth. Due to the relative ease on the manufacturing end, these products also lead to higher profit margins for producers in most cases. However, the liquid antimicrobial ingredients are also expected to register robust growth, thanks to growing demand for these in households and general consumer use.
  • Antimicrobial ingredients are rising in demand for freshly produced foods, and minimally processed food products. The long distances in transportation, and better storage facilities have encouraged growth of bacteria and contamination in food products. The antimicrobial ingredients market is expected to witness growing demand for retail displays, postharvest transportation, and storage. The demand in the food & beverage sector faces similar challenges as in cosmetic sector. The demand for natural antimicrobial ingredients and new forms of packaging are key challenges in this sector. For example, innovative means of packaging like antimicrobial sachets deployment inside packaging, edible coatings, and packaging films are increasingly in use. However, further improvements in natural compounds and better packaging solutions to improve shelf life, storage, and produce present a lucrative opportunity. The rising demand for fast-foods, growing requirement to transport food produce over long distances, and rising cases of food contamination are expected to drive more growth for the antimicrobial ingredients market.

A Region in Focus

  • Latin America

The global antimicrobial ingredients market is expected to witness highest growth in Latin America by 2030. It is estimated that over 30% of total revenues in the global market will be generated in Latin America. The easy availability of raw materials, increasingly large scale commercial production, and growing demand for food products are expected to drive growth. Low costs of labor are also expected to play an important role in the growth of the antimicrobial ingredients market in Latin America.

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Early Toxicity Testing Market: Introduction

  • An early toxicity testing or screening is the process of safety assessment which determines the level of tissue or cell damage and maximum safe concentration of any chemical or drug. It is generally performed during preclinical development of products.
  • Toxicology testing may also be carried out to determine the approximate amount and type of drugs present in the blood such as alcohol, amphetamine, barbiturates, benzodiazepine, and cocaine

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  • Key methods used for toxicology testing are in vivo testing, in vitro testing, and in silico testing
  • In vivo testing utilizes test animals to carry out desired testing process. It can be categorized into two types: acute in vivo testing (short-term testing) and chronic in vivo testing (long-term testing).
  • In vitro experimentation uses isolated cells from different organisms, including humans, depending on the type of cell needed to perform the specific research activity
  • In silico method, also known as predictive toxicology testing, is concerned with the development of new non-animal tests that do not simply duplicate existing animal tests but which provide a new scientific basis for safety testing
  • Among the testing methods, the in vivo segment dominates the global toxicology testing services market in terms of value, owing to its high cost

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Key Drivers and Restraints of Global Early Toxicity Testing Market

  • Rise in Focus on Early Detection of Toxicity of Chemicals Drives Global Market
    • Preclinical toxicology testing studies are carried out for screening the new chemical entity under development in order to analyze its safety and efficacy in animal models before it enters clinical trials in human beings
    • Roughly 30% of drugs tested in clinical trials fail due to unanticipated and unacceptable toxicology profiles
    • Early detection of toxicity during the preclinical phase can prevent large spending on clinical trials, thus saving R&D expenditure and unnecessary exposure of toxic chemicals to healthy human volunteers participating in the clinical trials
    • Thus, the companies involved in the drug development process and the regulatory bodies are focusing on early detection of the toxicity of chemicals
    • For this purpose, toxicology studies are outsourced to an expert team from CROs to speed up the process and reduce costs
    • Thus, rise in focus on early detection of toxicity is expected to propel the global early toxicity testing market during the forecast period

Early Toxicity Testing Market: Segmentation

  • Based on technique, the global early toxicity testing market can be segmented into in vivo, in silico, and in vitro
  • In vivo toxicology testing procedure leads the global early toxicity testing market, in terms of value, due to high cost associated with this type of testing technique
  • In vivo toxicology testing is lengthy, expensive, and painful to animals used in the testing procedures. Many ethical groups forbid the use of animals for chemical toxicity research and testing. It contributed to new toxicology testing methods, such as in vitro and in silico tests.
  • Based on end-user, the global early toxicity testing market can be categorized into pharmaceuticals industry, cosmetics industry, chemicals industry, food industry, and others

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Emerging Economies to Offer Growth Opportunities

  • In terms of region, the global early toxicity testing market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America constitutes the largest market for early toxicity testing. This can be attributed to stringent regulations by USFDA governing safety assessment of the products, high research & development funds, presence of leading toxicology testing service provider CROs in the region, and high consumer awareness about safety of the products.
  • Asia Pacific is a lucrative market for toxicology testing services. The market in the region is expected to expand at significantly high CAGR during the forecast period. This can be attributed to increase in preference to CROs in this region due to high quality services offered by them in low cost and high speed, presence of skilled labor, and opening of preclinical testing centers in areas such as China, India, Japan, & Australia by leading players in the market.        .

Key Service Providers Operating in Global Market

The global early toxicity testing market was highly fragmented in 2018. Key players operating in the global early toxicity testing market include:

  • Laboratory Corporation of America Holdings
  • Charles River Laboratories, Inc.
  • Eurofins Scientific
  • Bureau Veritas
  • Envigo
  • Evotec AG
  • Merck KGaA
  • SGS Group
  • Pharmaceutical Product Development, LLC. (PPD)
  • WuXi AppTec
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The global in-vitro diagnostics quality control market is prognosticated to grow notably in forthcoming years. Some of the major organizations in the global in vitro diagnostics quality control market comprise of names, for example, Sysmex Corporation, Quantimetrix Corporation, Thermo Fisher Scientific Inc., Siemens Healthineers, Sun Diagnostics LLC, Seracare Life Sciences Inc., Randox Laboratories, Roche Diagnostics, Ortho Clinical Diagnostics Inc., Bio-Rad Laboratories, Helena Laboratories, Abbott Laboratories, and others. These firms are consistently working to achieve an edge over its competitors. As a result, they are indulging into strategic activities in business, like tie-ups, mergers and acquisitions to improve their entire market presence.

According to Transparency market Research (TMR), the global market for in vitro diagnostics quality control is anticipated to expand at a CAGR of 3.3% within the forecast period from 2017 to 2022. In 2017, the market was valued around worth of US$710.8 mn. Owing to the further growth, the market is anticipated to grow around worth of US$837 by the end of 2022.

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On the basis of product type, the in vitro diagnostics quality control market is segmented into serum/plasma based controls, whole blood based controls, urine based controls, quality assurance services, data management solutions, and so on. Among these, whole blood based controls segment is foreseen to lead the global market in forthcoming years, owing to comprehensive assessment property in in vitro diagnostics. Geographically, North America region dominated the global in vitro diagnostics quality controls market, with 37% of entire market, in 2017. The market is expected to grow around worth of US$311.7 mn by the end of forecast period.

Technological Advancement in healthcare Sector to Fuel Market Growth

The global market for in vitro diagnostics quality control has transformed into a key part of the global healthcare segment in the past couple of years, thanks to steady progressions in technology identified with the healthcare sector. This has additionally empowered a rapid development of the global market for in vitro diagnostics quality control. The improved accuracy in the diagnosis offered by the in vitro diagnostics has made it an essential segment in the medical industry.

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The increasing demand for precision in diagnostics in the healthcare industry is to a large extent responsible to go about as the major driving element for the overall advancement of the global market for in vitro diagnostics quality control throughout the given forecast time. The increasing number of authorize clinical labs in the developing economies is additionally anticipated that would assume an imperative part in driving the general development of the global market.

Lack of Awareness About Quality Control Benefits in Rural Regions to Hamper Market Growth

Certified clinical labs have been in steady requirement for the administrations of in vitro diagnostics quality control. Be that as it may, the genuine shortage of these quality control benefits in the various regions is likely to be the key restraining factor for the development of the global market for in vitro diagnostics quality control.

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Manufacturers in order to reap the most out of the guidewires market are evaluating different approaches in modeling guidewires and catheters to advance techniques in endovascular interventions, notes Transparency Market Research (TMR). Medical device makers are striving to unveil guidewires that can help interventional cardiologists navigate a wide cross-section of clinical scenarios. To this end, those seeking higher stakes in the guidewires market have been extensively researching on combining various mechanical properties. Most notable of the properties they focus on comprise flexibility for easy maneuverability and hydrophilicity at the tip, in addition to shaft stiffness and retention friction, a key approach that shapes product innovations in the guidewires market.

Rising Uptake in Percutaneous Coronary Interventions Churns out Sizable Global Revenues

Importantly, medical device makers in the guidewires market are aiming at helping cardiac care specialists choose the best device that fulfils the requirements of the specific clinical scenario. The growing adoption of coronary guidewires among interventional cardiologists have been propelled by rapid advances in angioplasty procedures. This is driven by rising application in percutaneous coronary interventions, world over, such as percutaneous transluminal coronary angioplasty (PTCA) and percutaneous transluminal angioplasty (PTA). The coronary guidewires segment is expected to hold the leading revenue share in the global guidewires market.

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Advances being made in endovascular interventions-technology and techniques are underpinning the lucrativeness of the market. The global guidewires market is expected to garner a CAGR of 6.2% from 2017 to 2025 to climb to reach opportunities worth US$2.7 bn by 2025.

Computer-based Models for Developing Guidewires Have Game-Changing Potential

Growing demand for minimally invasive interventional procedures is a key factor catalyzing advances in endovascular interventions, driving the guidewires market. Advent of computer-based models for developing guidewires has been poised with game-changing potential in the guidewires market. These models are expected to gather steam among the industry as well as the academia due to their potential in evaluating different modeling approaches comprehensively. One of the compelling business propositions in the adoption of computer modelling strategies in the guidewires market is the potential in the design optimization of instruments.

Over the past few years, the role of hybrid guidewires in endourological procedures has gathered the attention of manufacturers in the guidewires market. They are inter alia experimenting with different materials and guidewire designs.

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New Catheterization Techniques Drive Product Innovations

Adoption of new catheterization techniques has also expand the potential of the guidewires market. A case in point is in cardiovascular magnetic resonance (CMR) catheterization, an emerging strategy. In this regard, nitinol guidewires have shown some potential to manufacturers to fare better in trackability, torquability, and mechanical support. This will pave way to high-performance commercial guidewires, especially in developed and developing markets.

Stricter implementation of regulations has motivated medical device makers to unveil guidewires in conformation with the prevailing regulations of the land. North America has presented several significant revenue streams to medical device makers in the global guidewires market. According to TMR, the opportunities in the market are expected to reach worth of US$662.1 by 2025-end.

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