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Chemiluminescence Immunoassay (Clia) Analyzers Market Size : Lucrative Opportunities

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The global chemiluminescence immunoassay (CLIA) analyzers market was valued over US$ 4.4 Bn in 2016 and is projected to register cumulative annual growth rate (CAGR) of over 6.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Chemiluminescence Immunoassay (CLIA) Analyzers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. The report suggests that rising demand for international accreditations and result comparability by using high-throughput automated immunoassays is spurring the growth of chemiluminescence immunoassay (CLIA) analyzers in coming years (2017 to 2025).

The North America and Europe are projected to dominate the global chemiluminescence immunoassay (CLIA) analyzers market in the coming years owing to increase in manufacturer focus for business expansion in these regions. Players are continuously developing multiplexed assay platforms and entering into distribution agreements to fortify their footprints in the North American and European markets. Growing adoption of technologically advanced products manufactured by local manufacturers like Shenzhen New Industries Biomedical Engineering Co., Ltd. is likely to drive the Asia Pacific chemiluminescence immunoassay (CLIA) analyzers market. The Asia Pacific chemiluminescence immunoassay (CLIA) analyzers market is expected to witness CAGR of over 6.5% from 2017 to 2025

Reagents Dominates the Market Followed by Automated Analyzers

The report offers detailed segmentation of global chemiluminescence immunoassay (CLIA) analyzers market based on product, application, and end-user. Among the product segment, reagents segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Factors attributed to the higher share of the reagent segment in the global market include frequent replacements leading to increasing usage of reagents when compared to analyzer platforms. Automated analyzers segment is likely to register comparatively higher growth rate in terms of value in the global chemiluminescence immunoassay (CLIA) analyzers market during the forecast period owing to continuous innovations in the product technologies by major market players.

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Endocrine Disorders & Oncology: Top Two Application Areas of Chemiluminescence Immunoassay (CLIA) Analyzers

Among applications, endocrine disorders segment is projected to hold dominant share of global chemiluminescence immunoassay (CLIA) analyzers market during the forecast period and is likely to expand at CAGR more than 6.0% from 2017 to 2025. Major factors responsible for the dominance of this segment are continuous innovations in test offerings and wide product portfolio of major as well as local manufacturers.

For instance, in January, 2017, the world's first assay to measure free vitamin D was introduced by Future Diagnostics Solutions and DIAsource Immunoassays SA (Anteo Group). Such continuous new product launches, along with exponentially rising patient base in developed as well as developing countries are likely to drive the segment between 2017 and 2025. According to the National Institute of Diabetes & Digestive and Kidney Diseases in the U.S., nearly 4.6% of the U.S. population suffers from hypothyroidism, which highlights the significant need for advanced testing methods to diagnose the endocrine disorder. Hepatitis and retrovirus segment, accounted for more than 10.0% share of global chemiluminescence immunoassay (CLIA) analyzers market in 2016, in terms of value. It is anticipated to have substantial growth and account for approximately 12.0% of market share by 2025.

Growth of the Asia Pacific Chemiluminescence Immunoassay (CLIA) Analyzers Market Likely To Be Hinged At China, India

In terms of value, North America is likely to continue its dominance in the global chemiluminescence immunoassay (CLIA) analyzers market throughout the forecast period, owing to significant average selling prices of automated chemiluminescence immunoassay analyzers, rising demand from physicians for technologically advanced diagnostic instruments with enhanced specificity and precision, and favorable coverage as per the Clinical Laboratory Improvement Amendments for in-vitro diagnostic procedures in the region. Latin America and Middle East & Africa are relatively untapped markets having high growth potential. The governmental cap on prices of analyzers and group purchasing policies by major multispecialty hospital chains in this region is further increasing adoption of rental CLIA analyzers in these regions. Middle East & Africa chemiluminescence immunoassay (CLIA) analyzers market is characterized with significant population base demanding affordable care, and rise in governmental initiatives for early diagnosis of these chronic diseases. For instance, as per UNAIDS publication in 2016, nearly 65% of the world’s HIV infected population are present in this region.

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Highly Consolidated Market With Top Three Players Accounting For More Than 50.0% of the Global Market

The report also provide profiles of leading players operating in global chemiluminescence immunoassay (CLIA) analyzers market. F. Hoffmann-La Roche Ltd., Abbott, Siemens Healthineers, and Beckman Coulter, Inc. (Danaher) are major players operating in the market, offering products with proprietary technologies, such as F. Hoffmann-La Roche Ltd.’s products are manufactured using proprietary electrochemiluminescence technology, while Abbott’s CLIA analyzers are manufactured using the chemiluminescent microparticle immunoassay technology. DiaSorin S.p.A. and Shenzhen New Industries Biomedical Engineering Co., Ltd. are the other major players in the developed and developing countries, respectively.

Expansion of tests offering in integrated digital diagnostics platform through partnerships to improve oncology and critical care treatment is a growing trend in global chemiluminescence immunoassay (CLIA) analyzers market. For instance, in January 2018, F. Hoffmann-La Roche Ltd. and GE Healthcare entered into strategic partnership to develop an industry-first digital platform, which will provide digital clinical decision support solutions in oncology and critical care treatment. Other prominent players in the global chemiluminescence immunoassay (CLIA) analyzers market include Sysmex Corporation, Randox Laboratories Ltd., Ortho Clinical Diagnostics (a part of Carlyle Group), and Tosoh Corporation.

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posted Feb 13 by Bella Watson

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The global chemiluminescence immunoassay (CLIA) analyzers market was valued over US$ 4.4 Bn in 2016 and is projected to register cumulative annual growth rate (CAGR) of over 6.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Chemiluminescence Immunoassay (CLIA) Analyzers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. The report suggests that rising demand for international accreditations and result comparability by using high-throughput automated immunoassays is spurring the growth of chemiluminescence immunoassay (CLIA) analyzers in coming years (2017 to 2025).

The North America and Europe are projected to dominate the global chemiluminescence immunoassay (CLIA) analyzers market in the coming years owing to increase in manufacturer focus for business expansion in these regions. Players are continuously developing multiplexed assay platforms and entering into distribution agreements to fortify their footprints in the North American and European markets. Growing adoption of technologically advanced products manufactured by local manufacturers like Shenzhen New Industries Biomedical Engineering Co., Ltd. is likely to drive the Asia Pacific chemiluminescence immunoassay (CLIA) analyzers market. The Asia Pacific chemiluminescence immunoassay (CLIA) analyzers market is expected to witness CAGR of over 6.5% from 2017 to 2025

Planning To Lay Down Future Strategy? Request Brochure Of Chemiluminescence Immunoassay (CLIA) Analyzers Market

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Market Followed by Automated Analyzers

The report offers detailed segmentation of global chemiluminescence immunoassay (CLIA) analyzers market based on product, application, and end-user. Among the product segment, reagents segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Factors attributed to the higher share of the reagent segment in the global market include frequent replacements leading to increasing usage of reagents when compared to analyzer platforms. Automated analyzers segment is likely to register comparatively higher growth rate in terms of value in the global chemiluminescence immunoassay (CLIA) analyzers market during the forecast period owing to continuous innovations in the product technologies by major market players.

Endocrine Disorders & Oncology: Top Two Application Areas of Chemiluminescence Immunoassay (CLIA) Analyzers

Among applications, endocrine disorders segment is projected to hold dominant share of global chemiluminescence immunoassay (CLIA) analyzers market during the forecast period and is likely to expand at CAGR more than 6.0% from 2017 to 2025. Major factors responsible for the dominance of this segment are continuous innovations in test offerings and wide product portfolio of major as well as local manufacturers. For instance, in January, 2017, the world's first assay to measure free vitamin D was introduced by Future Diagnostics Solutions and DIAsource Immunoassays SA (Anteo Group).

Such continuous new product launches, along with exponentially rising patient base in developed as well as developing countries are likely to drive the segment between 2017 and 2025. According to the National Institute of Diabetes & Digestive and Kidney Diseases in the U.S., nearly 4.6% of the U.S. population suffers from hypothyroidism, which highlights the significant need for advanced testing methods to diagnose the endocrine disorder. Hepatitis and retrovirus segment, accounted for more than 10.0% share of global chemiluminescence immunoassay (CLIA) analyzers market in 2016, in terms of value. It is anticipated to have substantial growth and account for approximately 12.0% of market share by 2025.

To Obtain All-Inclusive Information On Forecast Analysis Of Chemiluminescence Immunoassay (CLIA) Analyzers Market , Request A Discount

https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=31517

Growth of the Asia Pacific Chemiluminescence Immunoassay (CLIA) Analyzers Market Likely To Be Hinged At China, India

In terms of value, North America is likely to continue its dominance in the global chemiluminescence immunoassay (CLIA) analyzers market throughout the forecast period, owing to significant average selling prices of automated chemiluminescence immunoassay analyzers, rising demand from physicians for technologically advanced diagnostic instruments with enhanced specificity and precision, and favorable coverage as per the Clinical Laboratory Improvement Amendments for in-vitro diagnostic procedures in the region. Latin America and Middle East & Africa are relatively untapped markets having high growth potential.

The governmental cap on prices of analyzers and group purchasing policies by major multispecialty hospital chains in this region is further increasing adoption of rental CLIA analyzers in these regions. Middle East & Africa chemiluminescence immunoassay (CLIA) analyzers market is characterized with significant population base demanding affordable care, and rise in governmental initiatives for early diagnosis of these chronic diseases. For instance, as per UNAIDS publication in 2016, nearly 65% of the world’s HIV infected population are present in this region.

Highly Consolidated Market With Top Three Players Accounting For More Than 50.0% of the Global Market

The report also provide profiles of leading players operating in global chemiluminescence immunoassay (CLIA) analyzers market. F. Hoffmann-La Roche Ltd., Abbott, Siemens Healthineers, and Beckman Coulter, Inc. (Danaher) are major players operating in the market, offering products with proprietary technologies, such as F. Hoffmann-La Roche Ltd.’s products are manufactured using proprietary electrochemiluminescence technology, while Abbott’s CLIA analyzers are manufactured using the chemiluminescent microparticle immunoassay technology. DiaSorin S.p.A. and Shenzhen New Industries Biomedical Engineering Co., Ltd. are the other major players in the developed and developing countries, respectively.

Expansion of tests offering in integrated digital diagnostics platform through partnerships to improve oncology and critical care treatment is a growing trend in global chemiluminescence immunoassay (CLIA) analyzers market. For instance, in January 2018, F. Hoffmann-La Roche Ltd. and GE Healthcare entered into strategic partnership to develop an industry-first digital platform, which will provide digital clinical decision support solutions in oncology and critical care treatment. Other prominent players in the global chemiluminescence immunoassay (CLIA) analyzers market include Sysmex Corporation, Randox Laboratories Ltd., Ortho Clinical Diagnostics (a part of Carlyle Group), and Tosoh Corporation.

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Mass Spectrometry in Protein Biomarker Market: Important Proteomic Technology in Biomarker Discovery

Protein biomarkers are indicators which are responsible for diagnosis and treatment of different diseases, mainly, cancer. These proteins may leak from tumors to body fluids and lead to early diagnosis.

These protein biomarkers are used in diagnostic purpose as well as several research studies such as drug discovery and potential treatment option for cancer

Protein biomarkers need to be discovered for these cancer diagnosis, research, and treatment purposes. This biomarker discovery stage is followed by verification and validation steps in biomarker pipeline.

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In discovery and verification stages, both mass spectrometry and combination of liquid chromatography and mass spectrometry can be used. Mass spectrometry has greater importance in biomarker pipeline and biomarker studies.

Key Drivers and Restraints of Global Mass Spectrometry in Protein Biomarker Market

Rise in prevalence of cancer across the world and increase in demand for protein biomarker in different disease diagnosis and treatment are some of the major factors responsible for the growth of global mass spectrometry in protein biomarker market

For instance, according to the WHO, cancer was responsible for an estimated 9.6 million deaths and was the second major cause of death globally in 2018. It is estimated that around 1 in 6 deaths occur due to cancer at global level.

Advancement of mass spectrometry instruments coupled with software is also one of the major factors attributed for the growth of global mass spectrometry in protein biomarker market

Different strategic collaborations, mergers & acquisitions among major companies and research institutes for research purpose is also propelling the global mass spectrometry in protein biomarker market

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Higher Cost of Research Activities to Hamper Mass Spectrometry in Protein Biomarker Market

It takes very high cost or expenditure for research activities of biomarker in cancer and other related studies. Hence, lack of pharmaceutical & biotechnology companies’ capability for biomarker research due to cost factor may hinder the growth of global mass spectrometry in protein biomarker market.

Lower reproducible results associated with protein assays are also a problem as these assays exhibit less reproducibility due to day-to-day variability because of multiple steps in bottom-up proteomic process.

Mass Spectrometers to be Dominant segment

Based on product type, the global mass spectrometry in protein biomarker market can be segmented into mass spectrometers, accessories, and software

Mass spectrometers dominated the global market, owing to increase in demand of instrument in proteomics and growing application in cancer research

The mass spectrometer segment is further sub-segmented into MALDI-TOF MS, Triple Quadrupole MS, Quadrupole-Trap MS, Hybrid Linear Trap Orbitrap MS, and Quadrupole-Orbitrap MS

Triple Quadrupole MS is expected to be a highly lucrative sub-segment during the forecast period, owing to its features which are relatively simple and easy-to-use with good reproducibility to offer various applications at a low cost
Research & Development Application Segment to be Highly Lucrative Segment

In terms of application, the global mass spectrometry in protein biomarker market can be divided into diagnostics, research & development, therapeutics, and others
The diagnostic segment is anticipated to dominate the mass spectrometry in protein biomarker market during the forecast period. Rise in number of cancer cases across the world and increase in trend for early disease detection by advanced diagnostic procedures are some of the major factors responsible for the growth of this segment.

The research & development segment is projected to be a lucrative segment of the global market, owing to increase in number of research activities and search of new drugs for different conditions

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Life Sciences Companies Segment to be More Promising

Based on end-user, the global mass spectrometry in protein biomarker market can be segmented into diagnostic centers, life sciences companies, and academic & research institutes

The life sciences companies segment is anticipated to be a more promising segment in the next few years due to growth in research activities and rise in search for drug discovery and new molecules by these companies
North America to Lead Global Mass Spectrometry in Protein Biomarker Market

In terms of region, the global mass spectrometry in protein biomarker market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

North America dominated the global mass spectrometry in protein biomarker market in 2018, owing to higher prevalence of cancer, higher demand of biomarkers for disease diagnosis, presence of major players engaged in mergers & acquisitions, collaboration with CROs for biomarkers, and rise in investment for R&D by companies

For instance, in August 2017, BioIVT acquired Asterand Bioscience which was focused on drug research by biomarker validation and target identification
The mass spectrometry in protein biomarker market in Asia Pacific is expected to grow with a high CAGR during the forecast period, owing to large patient pool of cancer, increase in research activities, and improving health care infrastructure in the region

Key Manufacturers Operating in Global Mass Spectrometry in Protein Biomarker Market

Key manufacturers operating in the global market are:

Thermo Fisher Scientific Inc.
Agilent Technologies, Inc.
GE Healthcare
Bruker Corporation
Advion, Inc.
IONICON
Shimadzu Corporation
PerkinElmer Inc.
LECO Corporation
DH Tech. Dev. Pte. Ltd.

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Blood Pressure Monitoring Devices & Accessories Market: Introduction

Transparency Market Research has published a new report titled, ‘Global Blood Pressure Monitoring Devices & Accessories Market’. According to the report, the global blood pressure monitoring devices & accessories market was valued at ~US$ 1.9 Bn in 2018 and is projected to expand at a CAGR of ~7% from 2019 to 2027.

The medical term for high blood pressure is hypertension. Blood pressure is considered to be normal under a systolic value of 140 mmHg and under a diastolic value of 90 mmHg. A blood pressure monitoring device reads blood pressure automatically based on variations in the volume of blood in the arteries. Systolic and diastolic are terms used to depict or interpret blood pressure. The blood pressure is measured in terms of millimeters of mercury (mmHg). The three stages of hypertension are prehypertension (from 120-139 over 80-90), stage 1 (from 140-159 over 90-99), and stage 2 (from 160 and above over 100 and above).

Blood Pressure Monitoring Devices & Accessories Market: Major Segments

In terms of device, the global blood pressure monitoring devices & accessories market has been segmented into sphygmomanometers, automatic blood pressure monitors, ambulatory blood pressure monitors, blood pressure transducers, and blood pressure instrument accessories. Sphygmomanometers have been categorized into mercury sphygmomanometers, aneroid sphygmomanometers, and digital sphygmomanometers. Blood pressure transducers has been classified into disposable and reusable.

Blood pressure instrument accessories have been split into blood pressure cuffs, and bladders, bulbs, and valves. The automatic blood pressure monitors segment is projected to dominate the global market during the forecast period, owing to increase in usage in different types of surgeries for different indications. User-friendliness and safe application are the major advantages of these devices. The segment held significant share of the global blood pressure monitoring devices & accessories market in 2018. The automatic blood pressure monitors segment is anticipated to expand at a moderate CAGR between 2019 and 2027, owing to rise in surgeries and adoption rate of self-serving diagnostic tools.

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Sphygmomanometers are the other most preferred blood pressure monitors, as these are cost-effective and offer accurate readings. Growth of the sphygmomanometers segment is likely to be stable owing to decline in usage of mercury sphygmomanometers, introduction of large number of aneroid sphygmomanometers in the market, and rise in digitalization in the readings of blood pressure monitors. The blood pressure transducers and blood pressure instrument accessories segments are anticipated to witness moderate growth during the forecast period. High accuracy of blood pressure transducers, increase in the geriatric population, and favorable trade regulations in the developing countries are the major factors expected to propel the blood pressure transducers and blood pressure instrument accessories segments during the forecast period.

Based on end user, the global blood pressure monitoring devices & accessories market has been divided into hospitals, ambulatory surgical centers, clinics, home care settings, and others. The home care settings segment captured the largest market share in 2018, owing to the availability of trained & qualified personnel and favorable reimbursement structure.

The segment is expected to expand at the highest CAGR during the forecast period, attributed to the miniaturization of devices and rise in need & demand for self-testing devices by patients. Increase in the geriatric population and improvements in healthcare facilities in developing countries are anticipated to propel the clinics segment during the forecast period. However, rise in need & demand for blood pressure kiosks at public places (gym, airports, colleges, etc.) and government funding to boost the production of blood pressure monitors are likely to augment the ambulatory surgical centers and others segments during the forecast period.

Blood Pressure Monitoring Devices & Accessories Market: Prominent Regions

North America held major share of the global blood pressure monitoring devices & accessories market in 2018. Highly structured health care industry, presence of key players, and growth strategies of these players are the major factors driving the market in the region. Rise in awareness about the benefits of surgeries and procedures and increase in healthcare expenditure also contribute to the growth of the market in North America.

Asia Pacific held the second largest share of the global blood pressure monitoring devices & accessories market in 2018. Growth of the blood pressure monitoring devices & accessories market in the region can be attributed to rise in prevalence of chronic diseases and well-developed healthcare sector in the region. The market in Asia Pacific is expected to grow at a rapid pace during the forecast period. Increase in number of people with cardiovascular diseases, product approvals, and rise in awareness about cardiovascular diseases are factors anticipated to fuel the growth of the blood pressure monitoring devices & accessories market in the region.

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Blood Pressure Monitoring Devices & Accessories Market: Key Players

Key players are expanding their footprint to strengthen their positions in the global blood pressure monitoring devices & accessories market. Increase in population with hypertension offers lucrative opportunities to key players to increase their share in the blood pressure monitoring devices & accessories market. Hence, manufacturers are engaging in new product development, collaborations, and distribution to gain market share.

Leading players operating in the global blood pressure monitoring devices & accessories market include Omron Healthcare, Inc., Koninklijke Philips N.V., Schiller AG, American Diagnostic Corporation, SPENGLER, Spacelabs Healthcare, Withings SA, Welch Allyn, Inc., SunTech Medical, Inc., A&D Medical, and GE Healthcare.

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Pediatric Respiratory Disease Treatment Market: Introduction

  • Rise in global pollution levels have caused the pediatric population to be highly susceptible to a number of respiratory ailments. Pediatric respiratory disorders and symptoms include aerodigestive disorders (recurrent aspiration), asthma, chronic cough, and congenital abnormalities of airway & lung development including tracheobronchomalacia, cystic fibrosis, bronchopulmonary dysplasia (chronic lung disease), primary ciliary dyskinesia, recurrent respiratory infections & pneumonia, respiratory failure & ventilator dependency, sleep-apnea, and wheezing.

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Key Drivers and Restraints of Global Pediatric Respiratory Disease Treatment Market

  • Rise in prevalence of respiratory disorders, changing lifestyle habits, progressive increase in obese pediatric population, and surge in awareness about pediatric care are anticipated to increase expenditure on pediatric respiratory disease treatment
  • Allergic rhinitis is the most common form of non-infectious rhinitis. According to the International Study on Asthma and Allergies in Childhood (ISAAC), prevalence of rhinitis varies between 0.8% and 14.9% in six to seven-year old children and between 1.4% and 39.7% in 13 to 14-year old children. Countries with a very low prevalence include Indonesia, Albania, Romania, Georgia, and Greece. Countries with a very high prevalence include Australia, New Zealand, and the U.K.
  • Government and non-government organizations focus on campaigns to increase awareness about pediatric health. Several associations and foundations are playing an active role in spreading awareness about various pediatric conditions such as short bowel syndrome, neuroblastoma, leukemia, cancer palliative care, respiratory diseases care, mental health, and neonatal care.
  • The American Academy of Pediatrics (AAP), Substance Abuse and Mental Health Services Administration (SAMHSA), the Child Health and Development Institute (CHDI), the World Child Cancer, the Indian Cancer Society, and others are engaged in creating awareness among people about pediatric disorders

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Asthma Segment to Lead Global Market

  • The global pediatric respiratory disease treatment market can be segmented based on drug class, disease type, distribution channel, and region
  • In terms of drug class, the global pediatric respiratory disease treatment market can be divided into anti-inflammatory drugs, bronchodilators, combination drugs, corticosteroid, monoclonal antibodies, and others. The combination drugs segment is expected to witness significant growth during the forecast period due to proven efficacy of these drugs in maintaining these conditions and promising pipeline of upcoming drugs in the segment.
  • Based on disease type, the global pediatric respiratory disease treatment market can be classified into asthma, cystic fibrosis, bronchiolitis, pneumonia, idiopathic pulmonary fibrosis, tuberculosis, and others. According to recent global statistics by the Global Asthma Network, nearly 334 million people across the world are affected by asthma. Among them, 14% are children and 8.6% are young adults (aged between 18 and 45 years). Prevalence is higher in developed countries than developing ones.
  • In terms of distribution channel, the global pediatric respiratory disease treatment market can be classified into hospitals & clinics, retail pharmacies, and online pharmacies

Asia Pacific to Offer Lucrative Opportunities in Global Pediatric Respiratory Disease Treatment Market

  • The global pediatric respiratory disease treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is a significant market for pediatric respiratory disease treatment due to strong emphasis on health care development and high health care expenditure.
  • Asia Pacific is also anticipated to offer lucrative opportunities in the pediatric respiratory disease treatment market. This can be attributed to high patient population, rise in awareness about pediatric care, and increase in focus of public & private organizations in preventing respiratory disorders in the developing countries.

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Key Players Operating in Global Pediatric Respiratory Disease Treatment Market

Leading players in the global pediatric respiratory disease treatment market are:

  • AstraZeneca plc
  • Bayer AG
  • Boehringer Ingelheim GmbH
  • F. Hoffmann-La Roche AG
  • GlaxoSmithKline plc
  • Merck & Co, Inc.
  • Novartis AG
  • Regeneron Pharmaceuticals
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Transparency Market Research (TMR) has published a new report titled, “Coronary Artery Bypass Graft Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global coronary artery bypass graft market was valued at US$ 104.0 Mn in 2017 is projected to expand at a CAGR of 5.3% from 2018 to 2026. Increase in cardiovascular diseases, rise in awareness about endoscopic surgeries, surge in geriatric population, and technological advancements are the major factors anticipated to fuel the growth of the market from 2018 to 2026. Improved hospital infrastructure in the developed markets such a North America and Europe, rise in medical tourism in Asia Pacific, and advantages of endoscopic surgeries are expected to drive the market during the forecast period.

Increase in Adoption of Endoscopic Surgeries to Propel Market

Endoscopic surgeries offer advantages such as short hospital stay and minimal incision at the surgery site. Endoscopic surgery is used to diagnose or treat diseases. Advantages associated with endoscopic surgeries include minimal blood loss, no requirement of general anesthesia, outpatient surgical procedure, small incision, less bleeding, and quick discharge within 2 to 4 days. These factors have increased demand for endoscopic surgeries across the globe.

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Rise in Number of Cardiovascular Diseases Leading to Multiple Blockages to Boost Off-Pump CABG Segment

Cardiovascular diseases is a leading cause of premature deaths among the geriatric population or even among the younger population. Globally, the number of deaths due to cardiovascular diseases has increased in the last decade. There was 41% increase in deaths due to cardiovascular diseases from 12.3 million in 1993 to 17.3 million 2013. According to European Heart Network statistics, CVD accounts for nearly 3.9 million deaths in Europe each year and around 1.8 million deaths in the European Union. Advantages of off-pump CABG such as reduced hospital stay, minimal blood loss, lower post-operative complications, and useful in treating multiple blocks are expected to fuel the growth of the segment. 

Rise in Cardiac Complications and Pricing Pressure to Restrain Market

An article published on Medicine Net stated that the overall mortality rate for CABG is approximately 3% to 4%. Heart attack after CABG procedure is quite common in 5% to 10% cases and stroke in 1% to 2% of patients. Around 5% of the cases require exploration due to significant blood loss. In cases where second surgery is required, there are high chances of infection in chest and lungs. Increase in prices of CABG procedures in developed countries such as the U.S. and the U.K. is a key factor restraining the global coronary artery bypass graft market. The cost of CABG procedure in the U.S. ranges from US$ 70,000 to US$ 200,000 and it costs US$ 28,000 in the U.K., US$ 32,000 to US$ 42,130 in Australia, and US$ 16,247 to US$ 23,600 in Spain.

Asia Pacific to Register Exponential Growth

In terms of revenue, the coronary artery bypass graft market in Asia Pacific is expected to expand at a CAGR of 5.9% during the forecast period. Rise in medical tourism in India due to low cost of surgery is projected to boost the growth of the market in the region. The cost of CABG surgery in India ranges from US$ 1,500 to US$ 5,400. According to Assocham (2015), India’s medical tourism sector more than doubled between 2011 and 2015, i.e., US$ 980.0 Mn to US$ 1.8 Bn. Cost of medication and surgeries in developed countries in Asia Pacific is comparatively lower than in countries such as the U.K. and the U.S. Moreover, up-to-date treatment facilities, skilled doctors, and consultants will attract the western population to the region for extensive treatments.

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Medtronic, Terumo Corporation, Ethicon, Neograft, and Boston Scientific to Lead the Market

The report also provides profiles of leading players operating in the global coronary artery bypass graft market such as Medtronic, Terumo Corporation, KARL STORZ GmbH & Co. KG, Boston Scientific, Ethicon (a subsidiary of Johnson & Johnson), Neograft, Sorin Group, MAQUET Holding B.V. & Co. KG, Edwards Lifesciences, Vitalitec International, Inc., Novadaq Technologies, Inc., and Genesee Biomedical, Inc.

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