top button
    Got Questions


Global IoT Summit 2018
Oct 31, 2018
The Leela Palace, Bangalore



    Connect to us
      Facebook Login
      Site Registration Why to Join

Facebook Login
Site Registration

Magnetic Ink Character Recognition (Micr) Devices Market: Swift Uptake By Banking Sector Stokes Growth,

0 votes
2 views

Some of the prominent participants in global magnetic ink character recognition (MICR) devices market are ACOM Solutions, Inc., Canon, Inc., Hewlett Packard Company, Epson America, Inc., Murni Solusindo Nusantara, MagTek, Inc., Panini SpA, Rosetta Technologies, Inc., Vertical Infonet Pvt.Ltd., Source Technologies, Troy Group, Inc., Xerox Corporation Ltd, Uniform Industrial Corporation, and ZIH Corp.

A recently published research study by Transparency Market Research predicts the global market for magnetic ink character recognition devices to grow at tepid pace in the years to come. As per the report, the market is expected to clock a 1.6% CAGR during the period from 2017 to 2025 to become worth US$665.6 mn by 2025.

MICR printing and recognition technology are the two main types of technologies employed in the global magnetic ink character recognition (MICR) devices market. The recognition technology accounted for over 60.0% share in the market in 2016 because of the growing demand for secure and efficient check and financial document processing across the industries.

Geographically, the key segments of the global market for magnetic ink character recognition devices are North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Of them, Asia Pacific led the market in 2016 with maximum share. The ability of MICR to increase speed of check processing and also authenticate the validity of financial documents has created demand for them in the financial sector particularly. By registering a CAGR of 2.3% in the forecast period, the market in Asia Pacific is expected to retain its leading share in the years ahead too.

magnetic ink character recognition devices market

Get PDF Sample for this Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3154

Need for Fast and Secure Document Management Technology Boosts Demand

Magnetic ink character recognition (MICR) is a technology used to validate the originality or legitimacy of paper documents, specifically checks. Their demand is primarily fuelled by the need for fast and secure document management technology across nations worldwide. Besides, end-users such as government, retail, transportation and banking, financial services and insurance (BFSI) are also contributing to their demand. They rely on MICR technology for high-performance, high-quality and cost-effective financial document and check printing. For example, the pressing need for further optimizing the check processing speed is expected to offer growth avenues to the market for magnetic ink character recognition devices.

posted Feb 13 by anonymous

  Promote This Article
Facebook Share Button Twitter Share Button Google+ Share Button LinkedIn Share Button Multiple Social Share Button

Related Articles
0 votes

The global umbilical cord blood banking market features a markedly fragmented vendor landscape characterized by the presence of a copious number of small players. The combined share of the leading three players is merely 7.0% of the global market, finds Transparency Market Research (TMR). Over the years, the anticipated proliferation of private cord blood banking companies is likely to up the level of competition. TMR, however, observes that the high degree of fragmentation notwithstanding, the market is strictly regulated both by regional and global legislations with an aim to promote better therapeutic use of cord blood.

Prominent players operating in the umbilical cord blood banking market include StemCyte Inc., LifeCell, Vita 34 AG, Cordlife Group Ltd., Cryo-Save AG, Cryo-Cell International, Inc., Cord Blood America, Inc., China Cord Blood Corporation, ViaCord Inc., and CBR Systems, Inc.

Want to know the obstructions to your company’s growth in future? Request a PDF sample here

The global umbilical cord blood banking market is projected to rise at a promising CAGR of 11.4% during 2017–2025. The market stood at US$3,124.4 million in 2016 and is prognosticated to touch a valuation of US$8,178.1 million by 2025 end.

The primary types of storage under umbilical cord blood banking comprise public and private banks. Private cord blood banks is by far the dominant segment and contributed a substantial share of 65.0% in the global market in 2016. Notwithstanding the exorbitant initial cost and the consecutive costs incurred for their services, the popularity of private cord blood banks isn’t likely to wane anytime soon. The segment is expected to hold its sway throughout the assessment period.

On the regional front, North America leads the global market accounting for a marked share of 38.2% in 2016. The regional market is expected to retain its dominance and rise at a prominent pace over the years. This can be attributed to the enormous demand for umbilical cord blood primarily for stem cell research in key economies of the region.

To Obtain All-Inclusive Information On Forecast Analysis Of Global Market, Request A PDF Brochure Here.

Growth to Ride on Vast Regenerative Potential of Cord Blood-based Stem Cells

The profound regenerative potential of these blood-forming stem cells in the treatment of a wide spectrum of disease conditions, especially various blood-related disorders, and in hematopoietic stem cell transplantation (HSCT) is a key underpinning fueling the growth of the umbilical cord blood banking market. The rapid stride made by hematopoietic stem cell transplantation, notably pertaining to bone marrow and peripheral blood, in various parts of the world is a notable factor driving the market. The growth of the market is driven by vast current and emerging potential applications of cord blood in immunotherapy, regenerative medicine, and tissue engineering.

Vast Applications of Umbilical Cord Blood in Cell-based Therapies to boost Rapid Expansion

Umbilical cord blood considered as a potential source of diverse stem cells, particularly in heterogeneous populations world over, point to the vast popularity of their storage. The increasing utilization of umbilical cord blood in the treatment of leukemia, lymphoma, and sarcoma, and immunological defects is bolstering the demand for their banking. The promising application of umbilical cord blood in cell therapy research is helping the market to expand rapidly.

Furthermore, the market is enormously benefiting from the vast prospect of umbilical cord blood in exploring new stem cell-based therapeutic strategies, both in non-hematological and hematological diseases, especially in developed nations such as the U.S., the U.K., and Germany. Rapid stride made in the arena of cord blood storage and processing technologies bodes well will create lucrative avenues in the market.

Efforts to Establish Clear Public Policies for Better Use of Cord Blood Cells to Catalyze Growth

Governments and several public bodies in various emerging and established economies are embarking upon initiatives to create awareness about the benefits of umbilical cord blood banking. Substantial public funds pouring in numerous developing countries are aiding in the proliferation of the market over the assessment period.

In recent years, the market has seen the burgeoning rise in private cord blood banking. These banks are capitalizing on key benefits such as collection site of choice, sweeping ownership rights, and the rising prospect of autologous stem cell transplants.

However, the lack of standard and clear public policies pertaining to umbilical cord blood banking in numerous countries world over may restrain market players to realize its full potential. Nevertheless, collaborative efforts to establish clearer international guidelines promoting better use of umbilical cord blood in cell-based research will expand the potential of the market, thereby unlocking lucrative avenues.

Key Takeaways

  • The growth of the market rides on the vast applications of umbilical cord blood in hematopoietic stem cell transplantation and in immunotherapy and tissue engineering
  • Advances in cord blood storage and processing technologies aid in the rapid expansion of the market.
0 votes

The magnetic resonance imaging market has conventionally risen on the back of an advanced imaging technique, which has boosted adoption of the high-cost hardware, and software imaging. In turn, the advancement in the MRI imaging market continues to pave way for unimaginable possibilities in detection of several anomalies in critical organs like brain. Moreover, the prospect of the market remained limited earlier as CT imaging continued to be more cost-effective, and effective for applications like lung imaging. However, new products like Toshiba’s new Ultrashort Echo Time (UTE) enables clinicians to view high susceptibility regions, where conventionally the MR imaging signal used to disappear. Advanced products like this, and GE Healthcare’s MAGiC, promise lower turnaround times for MRI imaging, which is critical in care for chronic diseases, and rising elderly population.

Planning To Lay Down Future Strategy? Request Brochure Of Magnetic Resonance Imaging (MRI) Systems Market

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=56346

The advancements in MRI imaging aren’t limited to a few players either. Some other key players in the magnetic resonance imaging market are Koninklijke Philips N.V., AllTech Medical Systems, Esaote SpA, Hitachi, Ltd., Siemens Healthcare GmbH.  The main players in the market are investing in more research and development as the Unique Selling Point of MRI imaging continues to remain its technological superiority over conventional techniques. The FDA also approved two Siemens MRI applications, one of which makes way for simultaneous imaging, while the other reduces 2D imaging acquisition times by a multiple of 8 as per the official company sources.

Brain Imaging Continues to Remain Important

It is estimated that brain imaging accounts for 1 out of every 4 scans that take place. Additionally, the conventional delays in MRI imaging are expected to go away in the near future, thanks to new product launches. Technologies like GOBrain, promise to significantly reduce time taken for scans. Additionally, rising fatalities due to accidents, and chronic diseases like Alzheimer’s, and HIV are expected to result in over 45 million potential cases for brain scans worldwide. Moreover, the advancements in technologies promise to shorter the imaging process in line with clinical routine. The shorter scans and imaging times are essential for elderly patients, who can exhibit lower tolerance to treatments, and require urgent care on a consistent basis.

To Obtain All-Inclusive Information On Forecast Analysis Of Magnetic Resonance Imaging (MRI) Systems Market , Request A Discount

https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=56346

Neurological Illnesses to Promise a New Arena for Growth in the MRI Market

According to a recently published in Public Health journal, the deaths from neurological diseases is on the rise in developed countries. The rise is notable with a 10% increase in fatalities among men for neurological disease in seven countries. These countries include UK, Australia, Canada, Spain, Germany, Italy, US, and the UK. A wide variety of neurological illnesses mainly Epilepsy, Dementia, Multiple Sclerosis, Headache disorders, and Neuroinfections require advanced brain imaging techniques like MRI for effective treatment. The recent advancements in diagnostics, and growing surge of neurological disorders like Alzheimer’s, and reimbursement mechanisms for growth will promise new opportunities for players in the magnetic resonance imaging market.

0 votes

The magnetic resonance imaging market has conventionally risen on the back of an advanced imaging technique, which has boosted adoption of the high-cost hardware, and software imaging. In turn, the advancement in the MRI imaging market continues to pave way for unimaginable possibilities in detection of several anomalies in critical organs like brain. Moreover, the prospect of the market remained limited earlier as CT imaging continued to be more cost-effective, and effective for applications like lung imaging. However, new products like Toshiba’s new Ultrashort Echo Time (UTE) enables clinicians to view high susceptibility regions, where conventionally the MR imaging signal used to disappear. Advanced products like this, and GE Healthcare’s MAGiC, promise lower turnaround times for MRI imaging, which is critical in care for chronic diseases, and rising elderly population.

Planning To Lay Down Future Strategy? Request Brochure Of Magnetic Resonance Imaging (MRI) Systems Market

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=56346

The advancements in MRI imaging aren’t limited to a few players either. Some other key players in the magnetic resonance imaging market are Koninklijke Philips N.V., AllTech Medical Systems, Esaote SpA, Hitachi, Ltd., Siemens Healthcare GmbH.  The main players in the market are investing in more research and development as the Unique Selling Point of MRI imaging continues to remain its technological superiority over conventional techniques. The FDA also approved two Siemens MRI applications, one of which makes way for simultaneous imaging, while the other reduces 2D imaging acquisition times by a multiple of 8 as per the official company sources.

Brain Imaging Continues to Remain Important

It is estimated that brain imaging accounts for 1 out of every 4 scans that take place. Additionally, the conventional delays in MRI imaging are expected to go away in the near future, thanks to new product launches. Technologies like GOBrain, promise to significantly reduce time taken for scans. Additionally, rising fatalities due to accidents, and chronic diseases like Alzheimer’s, and HIV are expected to result in over 45 million potential cases for brain scans worldwide. Moreover, the advancements in technologies promise to shorter the imaging process in line with clinical routine. The shorter scans and imaging times are essential for elderly patients, who can exhibit lower tolerance to treatments, and require urgent care on a consistent basis.

To Obtain All-Inclusive Information On Forecast Analysis Of Magnetic Resonance Imaging (MRI) Systems Market , Request A Discount

https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=56346

Neurological Illnesses to Promise a New Arena for Growth in the MRI Market

According to a recently published in Public Health journal, the deaths from neurological diseases is on the rise in developed countries. The rise is notable with a 10% increase in fatalities among men for neurological disease in seven countries. These countries include UK, Australia, Canada, Spain, Germany, Italy, US, and the UK. A wide variety of neurological illnesses mainly Epilepsy, Dementia, Multiple Sclerosis, Headache disorders, and Neuroinfections require advanced brain imaging techniques like MRI for effective treatment. The recent advancements in diagnostics, and growing surge of neurological disorders like Alzheimer’s, and reimbursement mechanisms for growth will promise new opportunities for players in the magnetic resonance imaging market.

0 votes

Transparency Market Research (TMR) has published a new report titled, “Joint Replacement Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global joint replacement devices market was valued at US$ 18,518.2 Mn in 2017 and is anticipated expand at a CAGR of 4.4% from 2018 to 2026. High prevalence of osteoarthritis, growth in the medical devices industry in emerging economies in regions such as Asia Pacific, and launch of technological advanced products such as customized knee implants are projected to augment the global market between 2018 and 2026.

High Prevalence of Osteoarthritis to Propel Market

Osteoarthritis is a common disorder that affects the adult and geriatric population across the globe. This condition can be treated through joint replacement surgeries using orthopedic knee and hip implants. According to the Arthritis Foundation, 14 million individuals in the U.S. had symptomatic knee osteoarthritis in 2016. According to the World Health Organization (WHO), 130 million people are likely to suffer from osteoarthritis worldwide, out of which 40 million people are projected to be severely disabled by the disease by 2050.

Planning To Lay Down Future Strategy? Request Brochure Of Joint Replacement Devices Market

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=45072

Rapidly Growth in Medical Devices Industry to Create Opportunities in Market

Demand for medical devices used for surgical procedures and diagnosis of diseases is high. Increase in the number of market players launching new products for orthopedic surgeries, surge in hip and knee replacement procedures, and rise in emphasis on cost-effective health care boost the demand of orthopedic implants. Use of robotics and artificial intelligence in the health care setting has improved health care delivery and increased the demand for medical devices. Key players operating in the orthopedic industry are extensively engaged in research & development activities to develop new and upgrade existing devices for better application in joint replacement surgeries. This, in turn, is propelling the joint replacement devices market.

Products Recalls by Regulatory Authorities to Restrain Market

Regulatory authorities such as the Food and Drug Administration (FDA) have recalled a number of hip and knee implants in the last few years. Defective products pose a threat to the patients and thus, render the surgery to be unsuccessful. Hence, product recalls are expected to restrain the market during the forecast period.

To Obtain All-Inclusive Information On Forecast Analysis Of Joint Replacement Devices Market , Request A Discount

https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=45072

Market in Asia Pacific to Expand Considerably

In terms of revenue, the joint replacement devices market in Asia Pacific is projected to expand at a CAGR of 4.4% during the forecast period. Increase in awareness about the availability of orthopedic implants and rise in patient population in the region are expected to boost the demand for joint replacement devices. Furthermore, initiatives by governments to control the prices of joint replacement implants in the region is anticipated to create lucrative opportunities in the market in the next few years.

Collaborative Efforts by Key Players to Boost Market

The report also provides profiles of leading players operating in the global joint replacement devices market. These include Aesculap Implant Systems, Arthrex, Inc., ConforMIS, DePuy Synthes (a Johnson & Johnson Company), DJO Global, Exactech, Inc., Medtronic, Smith & Nephew, Stryker, and Zimmer Biomet. New product launches, focus on developing technologically advanced products, and increase in mergers & acquisitions and strategic collaborations with companies and government organizations are expected to drive the global market during the forecast period. In July 2016, Zimmer Biomet entered into a collaborative agreement with Indo UK Institutes of Health (IUIH) to improve the health care infrastructure in India by establishing Zimmer Biomet Institute of India.

...