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Optical Biometry Devices Market Companies Size, Share, Growth Trends, and Forecast Analysis

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Optical Biometry Devices: Introduction

  • Optical biometry devices are used for intraocular lens power calculations in clinical practice. Optical biometry is very accurate and non-invasive automated procedure that measures the characteristics of the eyes automatically.

Expansion in Emerging Markets in Asia Pacific and Latin America to Offer Opportunities in Optical Biometry Devices Market

  • Key factors attributed to the rapid growth of the market in Asia Pacific are presence of high patient population suffering from eye disorders and high prevalence of diseases such as diabetes and hypertension

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  • Moreover, the region comprises several emerging economies, which could be significant markets for optical biometry technologies due to high unmet medical needs and low penetration of these devices
  • Key companies operating in the market are focused on expansion of their product portfolios by developing new products with reduced side effects and enhanced effectiveness to treat optical diseases
  • Emerging economies are major markets for optical biometry devices due to expansion of health care infrastructure
  • Penetration of advanced health care disease treatment techniques is significantly high in developed countries. However, the rate of adoption is low in emerging economies in Asia and Latin America due to lack of awareness about optical biometry devices.

Key Drivers and Restraints of Global Optical Biometry Devices Market

  • Major drivers of the global optical biometry market are rise in prevalence of various disorders related to different parts of the body, changing lifestyle, aging population, and increase in awareness and acceptance of several optical imaging technologies
  • However, lack of well-defined reimbursement structure in most of the regions hampers the growth of the market
  • Significant scope for emerging optical imaging technologies in applications such as oncology, neurology, and research and low penetration in emerging economies provide immense opportunities in the market in these regions
  • Changing lifestyle such as sedentary lifestyle, longer working duration in front of a laptop/pc monitor, and absence of exercise and physical activities lead to several health conditions among populations across the world

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Swept-source Optical Coherence Tomography (SS-OCT) Based Optical Biometry Segment to Dominate Global Market

  • Based on product type, the global optical biometry devices market can be divided into swept-source optical coherence tomography (SS-OCT) based optical biometry, optical low-coherence reflectometry (OLCR) based optical biometry, and partial coherence interferometry (PCI) based optical biometry.
  • The swept-source optical coherence tomography (SS-OCT) based optical biometry segment dominated the market owing to its high accuracy and fast speed 

Intraocular Lens (IOL) Power Calculation Segment to Expand at a Rapid Pace

  • Based on application, the global optical biometry devices market can be bifurcated into blood intraocular lens (IOL) placement and intraocular lens (IOL) power calculation. The intraocular lens (IOL) power calculation segment dominated the global market in 2018.
  • The intraocular lens (IOL) power calculation segment dominated the market owing to high usage of intraocular lens (IOL) power calculation in optical biometry

Hospitals Dominated Global Optical Biometry Devices Market

  • Based on end-user, the global optical biometry devices market can be classified into hospitals, ophthalmology clinics, ambulatory surgical centers, and others
  • The hospitals segment dominated the global optical biometry devices market in 2018. High usage of optical biometry in hospitals for eye treatment and availability of certified physicians in hospitals drive the segment.

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North America to Lead Global Optical Biometry Devices Market

  • In terms of region, the global optical biometry devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America is projected to account for major share of the global optical biometry devices market during the forecast period. Key driver of the market in the region is high uptake of these technologies in several applications such as ophthalmology, dentistry, and dermatology.
  • North America also comprises large geriatric population that suffers from several disorders and requires optical biometry devices. This contributes to the growth of the market in the region.
  • High awareness and affordability of the population also boost the growth of the market in North America

Key Manufacturers Operating in Global Optical Biometry Devices Market

The global optical biometry devices market was highly fragmented in 2018. Key manufacturers operating in the global market are:

  • Carl Zeiss Meditec AG
  • Menicon Co., Ltd.
  • Metall Zug AG
  • NIDEK CO., LTD.
  • SANTEC CORPORATION
  • Topcon Corporation
  • HEINE Optotechnik GmbH & Co. KG
  • Tomey Corporation
  • AMETEK, Inc.
  • Leica Microsystems

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posted Feb 11 by Bella Watson

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Transparency Market Research has recently published a new research report that evaluates the overall global microfluidic device systems market and provides a trajectory of the market. The research report, titled “Microfluidic Device System Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” studies microfluidic devices system as an evolving scientific field that has myriad analytical applications and a huge commercial potential.

It is a multidisciplinary field that uses engineering, chemistry, physics, nanotechnology, biochemistry, and biotechnology with practical solutions that use low fluid volumes achieve automation, multiplexing, and high-throughput screening. These devices are used in areas of cell biology research, medicine, and protein crystallization. The primary goal of these devices is to bring in efficiency and improve treatments.

According to the research report, the global microfluidic device systems market was valued at US$1.5 bn in 2013 and is expected to reach US$5.2 bn by 2019, rising at a CAGR of 22.80% between 2013 and 2019. The key factor propelling the global microfluidic device systems market is the high demand for these systems in chip miniaturization, proteomics, and genomics. Furthermore, the growing demand from the point-of-care testing segment will also boost this market.

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The global microfluidic device systems market has been segmented on the basis of material, industry, application, and geography. The materials available in this market are glass, silicon, and polymer. The industries using these systems are pharmaceuticals, medical devices, and in-vitro diagnostics. On the basis of application this market is segmented into point of care testing, pharmaceutical and life science research, drug delivery, analytical devices, clinical and veterinary diagnostics, and environment and industrial. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

Of all the industries, the in-vitro diagnostics industry is the largest user of microfluidic device systems. This industrial segment was valued at US$949.6 mn in 2013 and is likely to reach US$3.3 bn in 2019, surging at a CAGR of 23.20% 2013 and 2019. Meanwhile, the medical devices segment will also play a vital role in the changing application dynamics of the global microfluidic device systems market.

Out of all the applications, the veterinary and clinical diagnostics held the largest share in the market. However, analysts predict that point of care testing segment will show a remarkable growth rate in the global microfluidic device systems market in the foreseeable future. The North America microfluidic device system market holds a dominant position as it was valued at US$644.5 mn in 2013 and is expected to reach US$2 bn in 2019, expanding at a CAGR of 21.70% from 2013 to 2019.

Some of the key players in the global microfluidic device systems market are Roche Diagnostics, Siemens Healthcare, Abbott Laboratories, Bio-Rad Laboratories, Agilent Technologies, Fluidigm Corporation, Becton Dickinson and Company, and Johnson & Johnson. The research report profiles these players and provides a complete analysis of the competitive landscape of the overall market. Furthermore, the report also presents a fair case of regulatory framework governing the overall market. The research and development activities, branding ideas, business and marketing strategies, and strategic mergers and acquisitions of these players have also been mentioned in this extensive research report.

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The latest report compiled by Transparency Market Research talks about the dynamics of the global radiofrequency (RF) ablation devices for pain management market. As per the report, the radiofrequency ablation devices for pain management market is projected to reach an overall valuation worth US$1,114.5 mn by the end of 2024. This growth of the market is expected to be achieved with the help of a strong CAGR of 12.9% over the course of the given forecast period of 2017 to 2024.

As per the findings of the report published by TMR, the global radiofrequency ablation devices for pain management market was dominated by the end-user segment of hospitals. From a geographical outlook, the market is projected to be led by North America and Europe in the coming years of the forecast period. On the other hand, the Asia Pacific region of the global radiofrequency ablation devices for pain management market is projected to show high growth potential during the forecast period of 2017 to 2024.

The competitive landscape of the radiofrequency ablation devices for pain management market is highly consolidated. This is mainly due to the presence of a handful of companies operating in this domain. Some of the key players in the global radiofrequency ablation devices for pain management market include names such as Diros Technology Inc., Halyard Health Inc., St. Jude Medical Inc., Stryker Corporation, and Boston Scientific Corporation among others.

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Of these above-mentioned names, St. Jude Medical Inc. has emerged to be a clear market leader. The company boasts a strong and diversified business portfolio, accurate marketing and acquisition strategies, and vast geographical presence. In addition to this, the company has also invested heavily on the research and development to provide efficient and innovating medical equipment and devices to their end users. Boston Scientific Corporation, another leading company in the global radiofrequency ablation devices for pain management market, has immense expertise in offering services that are cost-effective and highly reliable. The company is also trying to invest more in R&D activities to enhance its business portfolio.

Growing Geriatric Population Boosting Marketing Growth

There are several factors that are influencing the growth of the global radiofrequency ablation devices market for pain management. One key driving factor for the growth of the global market is the increasing number of geriatrics who suffer from a disorder such as arthritis. As per the findings published by the United Nations in 2017, people over the age of 60 account for nearly 13% of the global population. This number is only expected to grow in the coming years. This is also expected to play an important role in the growth of the global radiofrequency ablation devices for pain management market in the near future.

Another important factor that is driving the growth of the global market is the increasing preference of the patients to undergo minimally invasive surgical procedures. Such procedures offer fast relief and also cut down the number of days in the hospital. Additionally, several industry leaders and investing heavily to enhance current technologies. This is also expected to boost the growth of the market in the near future.

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High Compliance Issues Hampering Market Development

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The implementation of information technology in the healthcare industry has created a revolution towards faster diagnostics and treatments, and especially a massive improvement in speeds and efficiency of backend processing and documentation for healthcare institutes and organizations. It is essentially a support system for information management in the healthcare industry, through the use of computer systems that allow for a safe and secure transmission of data between the service providers, the healthcare institute, and the consumers. Healthcare IT integration brought about one of the most critically important functionalities in the healthcare industry: the advent of electronic health records. EHRs can effectively improve the overall efficiency, safety, and quality of a health delivery system.

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The key factors involved in healthcare IT integration revolve around the improvement of quality of care available for a patient. They are also enabled to provide services that can significantly improve the productivity of a healthcare organization, while helping prevent or reduce the rate of medical errors caused by humans, and also cut down on the overall health costs. Healthcare IT integration also includes a wide array of methods – all electronic – to help manage the information provided by a patient, or the information generation throughout their care at a healthcare organization. This helps both the organization as well as the patient.

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Healthcare IT integration refers to the practice of digital intervention for the effective management of patient health. The practice enables the effective archiving, monitoring, integration and communication of patient’s health in a secure environment. In primary healthcare centers, healthcare IT integration practices are used for purposes such as computerized provider order entry, clinical decision support, electronic prescribing, consumer health IT applications, and storage and transfer of electronic medical records across different end points.

This report on the global market for healthcare IT integration presents a detailed overview of the market’s present growth dynamics and an analysis of the key factors influencing its development. The future growth prospects of the market have been analyzed using the key growth drivers, restraints, trends, inputs from industry experts, and several industry-standard analytical tools. A detailed analysis of the competitive landscape of the global healthcare IT integration market has also been included in the report.

Global Healthcare IT Integration Market: Market Potential

In the past few years, the market for healthcare IT integration has witnessed significant traction and a huge rise in adoption across developed as well as developing economies. The market has benefitted from the significant rise in demand for advanced healthcare services, the vast rise in world’s geriatric population, increased prevalence of a number of chronic diseases and the resultant rise in the intervention of IT in the healthcare industry for faster and more efficient services amid rising demand.

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The market has also significantly benefitted from the easy availability of technologically advanced products, declining prices of communication devices, technological advancement of healthcare industry, and the increased usage of mobile computing devices by healthcare practitioners as well as patients. With the increased intervention of IT technologies, the need for effective integration solutions and tools is also being felt. These factors will continue to drive the market in the next few years as well. However, the market’s growth could be restricted to a certain extent in the next few years owing to concerns regarding data security and high cost associated with healthcare IT integration.

Global Healthcare IT Integration Market: Regional Analysis

From a geographical perspective, the report segments the global healthcare IT integration market into North America, Europe, Asia Pacific, and Europe. Of these, the market in North America is presently the leading contributor to the overall market chiefly owing to the technologically advanced healthcare infrastructure. The vast usage of personal computing devices by the general population in countries such as the U.S. and Canada and the rising awareness regarding the vast benefits of IT intervention in the healthcare industry are also leading to the increased demand for healthcare IT integration services and solutions in North America. The market in Europe also holds a prominent position in the global market, mostly owing to aforementioned factors.

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The global genetic testing services market was valued over US$ 33,500.0 Mn in 2016 and is projected to register a compounded annual growth rate (CAGR) of over 7.6% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Genetic Testing Services Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”.

The report suggests that the rising demand for innovative technologies and increasing research & development activities in the field of genetics are likely to drive the genetic testing services market in the next few years (from 2017 to 2025). North America and Europe are projected to dominate the global genetic testing services market in the next few years, owing to rise in the adoption of genetic services and increase in health care spending in these regions.

Asia Pacific is projected to be a rapidly expanding market for genetic testing services from 2017 to 2025. This can be attributed to increase in medical tourism, adoption of genetic testing services, and rise in awareness about benefits of genetic testing in developed countries such as Japan and Australia. Development of innovative tests and value-added services by service providers is expected to fuel the global genetic testing services market during the forecast period. The Asia Pacific genetic testing services market is expected to register the highest CAGR of 7%–8% from 2017 to 2025.

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High Prevalence of Cancer to fuel Global Market

High prevalence of cancer such as breast cancer is one of the driving factors for the global genetic testing services market. Increasing early detection of breast cancer by testing of the BRC gene is driving the global market. Chronic diseases such as diabetes and other cardiovascular diseases require identifying of high-risk patients and implementation of disease management, which is made possible by genetic testing.

This factor is projected to drive the global genetic testing services market during the forecast period. Furthermore, combination of health care IT with genetics and increase in health care spending are some of the factors estimated to propel the global market during the forecast period. Lack of awareness about genetic services in developing countries is one of the factors likely to restrain the global market between 2017 and 2025.

Predictive & Presymptomatic Testing and Hospital-based Segments expected to dominate the Global Market

The report offers detailed segmentation of the global genetic testing services market based on test type, service provider, and application. Among test types, the predictive & presymptomatic testing segment is poised to account for a leading share of the global market from 2017 to 2025. Factors attributable to the major share held by the segment in the global market include early detection of diseases such as cancer, detection of asymptomatic diseases, and identifying the gene-associated risks.

The segment held over 20% share of the global market in 2016, in terms of revenue. Based on service provider, the global genetic testing services market has been segmented into hospital-based laboratories, diagnostic laboratories, specialty clinics, and others. The hospital-based laboratories segment dominated the global market accounting for over 40% of the market share in 2016. The specialty clinics segment is expected to expand at a rapid pace during the forecast period, due to value-added services offered by these clinics.

Oncology Segment dominates the Market, followed by Others Segment

Based on application, the global genetic testing services market has been classified into oncology, infectious diseases, autoimmune diseases, and others. The oncology segment is expected to hold the largest share of the global market from 2017 to 2025, due to high prevalence of cancer and increase in awareness about early detection of cancer. The segment held approximately 40% share of the global market in 2016. The others segment held the second-largest share of the market in 2016, owing to increase in the prevalence of rare diseases and rise in genetic testing in the field of obstetrics.

High Incremental Opportunity in Asia Pacific

In terms of geography, the global genetic testing services market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the largest share of the global genetic testing services market in 2016 and is projected to continue to dominate the market from 2017 to 2025. The market in the region is projected to expand at a CAGR of over 7% from 2017 to 2025. Well-established health care infrastructure and strong support from public and private sectors in terms of reimbursements are factors responsible for the largest share held by North America in the global genetic testing services market.

Rise in awareness about the disease prevention has led to improvement in the disease diagnosis, which is anticipated to drive the market in the region during the forecast period. Europe is projected to hold the second-largest share of the global genetic testing services market during the forecast period. The market in the region is estimated to expand at a CAGR of 7%–8% from 2017 to 2025. Rising health care expenditure in the region, increasing prevalence of autoimmune diseases, and entry of new players are some of the factors fueling the genetic testing services market in Europe.

Asia Pacific is a rapidly expanding market for genetic testing services, which is likely to expand at a CAGR of over 8% during the forecast period. Population explosion and high prevalence of infectious diseases in Asia Pacific are some of the major factors boosting the market in the region. Australia, Japan, India, and China are potential markets for genetic testing services in the region. The market in India is expected to expand at a rapid CAGR during the forecast period, due to rise in disposable income and increase in funding for R&D in the country.

The genetic testing services market in Middle East & Africa is expected to expand at a CAGR of 6%–7% during the forecast period. Mandatory health care insurance in Gulf countries and high prevalence of infectious diseases in countries in Africa augment the market in the region. Brazil also offers high growth potential to the genetic testing services market, as several diagnostic manufacturers are focused on establishing facilities in the country.

Key Players

Some of the key players operating in the global genetic testing services market are Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Genomic Health, Inc., NeoGenomics Laboratories, Inc., Eurofins Scientific, Ambry Genetics, Hoffmann-La Roche Ltd., Illumina, Inc., CENTOGENE AG, and 23andMe, Inc.

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As per a recent Transparency Market Research report on global opioid tolerance treatment market states the market is anticipated to witness a substantial growth during 2019 to 2027. The report predicts that the growth of the market shall attribute to the growing number in the incidences of where people have become addicted to drugs that contain synthetic opioid like pain relievers and fentanyl. These synthetic drugs are able to make human immunity system weak and makes the addict a lot worse than it was before taking these medicines. There are several initiatives by government of developed countries like U.S. and Canada, which aim to ban opioid consumption. As a result of these campaigns, the global opioid tolerance treatment market is growing rapidly between 2019 and 2027.

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Alpha2-Adrenoceptor Agonists to Lead the Product Category

The drugs category of global opioid tolerance treatment market is dominated by alpha2-adrenoceptor agonists. The drug accounts for approximately 84.0% of total share of the market. This impeccable dominance of is the result of growing popularity of the drugs which is further the product of less or no side-effects from it. Due to these benefits the alpha2-adrenoceptor agonists dominates the drugs category of global opioid tolerance treatment market in the mentioned duration.

Competitive Landscape to Boost the Market to US$ 2 Bn by 2027

Presently, the global opioid tolerance treatment market is highly competitive and has several players that control its dynamics. This as a result makes the global opioid tolerance treatment market as highly fragmented in nature. Due to this nature, the entry of new players in the global opioid tolerance treatment market is quite difficult.

As a result, these players are merging and collaborating with several other businesses. These strategies allow the businesses to gain access to resources that can help them achieve suitability in the global opioid tolerance treatment market. With the help of these strategies, the global opioid tolerance treatment market shall reach to the value of US$ 2 bn by the end of 2027 says the experts at Transparency Market Research with 3.5% CAGR.

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Acquired Tolerance Segment to Dominate the Type Category

In type, the acquired tolerance segment is projected to lead the global opioid tolerance treatment market. It shall account for 74% of total market. This dominance is the result of growing awareness of side-effects from opioid drugs. Based on these developments, the acquired tolerance segment shall dominate the type category of global opioid tolerance treatment market.

North America Leads the Regional Segmentation

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