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Thyroid Function Test Market Size Examined in New Research Report

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The global thyroid function test market was valued at approximately US$ 1.3 Bn in 2018. It is projected to register a cumulative annual growth rate (CAGR) of more than 5% from 2019 to 2027, according to a new report published by Transparency Market Research (TMR) titled ‘Thyroid Function Test Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.’ Expansion of the health care industry, increase in health care expenditure, government initiatives, rise in product approvals, and increase in patient population are projected to augment the global market from 2019 to 2027.

North America and Western Europe are likely to account for a dominant share of the global thyroid function test market, owing to advancements in healthcare and products and business expansion by various market leaders. Development of health care infrastructure and high medical expenditure by governments in emerging markets, such as China and India, are likely to boost the thyroid function test market in Asia Pacific at a CAGR of around 6.5% from 2019 to 2027.

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Increasing incidence of thyroid gland disorders to propel market

The global thyroid function test market is majorly driven by increasing incidence of thyroid disorders such as hypothyroidism and hyperthyroidism. Rise in the number of patients affected with autoimmune diseases (which is the major risk factor for thyroid disorder), such as Grave’s disease, is considered a major factor for consistent increase in incidence of thyroid disorder. Organizations such as the World Health Organization (WHO) and the American Association of Clinical Endocrinologists (AACE) have stated that thyroid disorders are rapidly increasing, and they demand novel and effective thyroid therapeutics for treatment. For instance, according to WHO estimates, thyroid disorders such as hypothyroidism, hyperthyroidism, and goiter are common conditions affecting more than 750 million people globally.

The Journal of Clinical Endocrinology and Metabolism also estimated that thyroid dysfunction (i.e. hypothyroidism) is the leading endocrine disorder, and accounts for around 30% to 40% of the total endocrine patients. Thus, increase in the prevalence of thyroid disorders drives the demand for thyroid function tests such as TSH, T3, and T4. Additionally, prevalence of these disorders is increasing at a consistent pace in developed countries. This is anticipated to boost sales of thyroid therapeutics. According to the Endocrine Society, around 140 hypothyroidism and 10 hyperthyroidism cases are reported among every 1,000 individuals in the U.S. each year. These factors are expected to fuel the market in the near future

Rise in obese, diabetic, and cardiovascular patients

Obese, diabetic, and cardiovascular patients are at a higher risk of developing hypothyroidism and hyperthyroidism. Rise in obese, diabetic, and cardiovascular patients is likely to increase the incidence of thyroid disorders, leading to increase in thyroid function test. Several statistics and clinical studies indicate that thyroid abnormalities are more common in obese, diabetic, and cardiovascular patients. For example, in July 2013, the Journal of Clinical Endocrinology and Metabolism published a cross sectional study of 27,097 volunteers (over 40 years) with body mass index more than 30.0 kg/m2 to assess the risk of hypothyroidism among the obese population.

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The clinical results of the study supported that thyroid dysfunction is linked to significant changes in body weight, and represents major risk for obese and overweight people. Patients with cardiovascular diseases are also at a high risk of thyroid disorders. A study published in the international journal the Annals of International Medicine noted that hypothyroidism accounted for more than 60% cases of cardiovascular patients such as myocardial infarction and ischemic heart disease. Hence, the factors and statistics mentioned above indicate that increasing obese, diabetic, and cardiovascular populations is likely to propel the thyroid function test market

Asymptomatic nature of thyroid disorders lead to large undiagnosed population to restrain market

Thyroid disorders (hypothyroidism and hyperthyroidism) are often overlooked or misdiagnosed, as these disorders do not cause noticeable symptoms or are mistaken for, or attributed to, other medical conditions such as stress and aging. Hence, a large number of patients remain undiagnosed or are suffering from asymptomatic thyroid disorders. The American Thyroid Association stated that thyroid disorders are silent epidemic disorders and more than 50% of thyroid patients are unaware of their conditions.

Asia Pacific market to expand significantly

The market in Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. The market is estimated to expand at a CAGR of 6.5% during the forecast period. India, China, and Japan are expected to drive the thyroid function test market in Asia Pacific. Increasing prevalence of thyroid disorder in countries such as India and China, increasing awareness regarding early diagnosis and improving economic condition are expected to fuel the market.

Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., and Abbott to lead market

The report also provides profiles of leading players operating in the global thyroid function test market. They include Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., and Abbott. Increase in mergers & acquisitions, strategic collaborations, and new product launches are expected to drive the global market during the forecast period. Additionally, strong product portfolio, high brand recognition, and strong geographic presence are expected to boost the market during the forecast period.

posted 4 days ago by Bella Watson

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In a recent report by Transparency Market Research (TMR), the vendor landscape for global pulmonary arterial hypertension (PAH) market is highly opportunistic. Since PAH has no permanent cure, the market is gaining popularity. A key factor to boost the growth of the PAH market is the availability of several treatment options for slowing down the spreading of the diseases, control symptoms, and enhancing the quality of life of patients.

Some of the leading players of the global market for PAH are United Therapeutics Corp., Novartis International AG, Pfizer Inc., Gilead Sciences Inc., and GlaxoSmithKline Plc. The key drugs available in the global market are PDE-5 inhibitors, ERAs, prostacyclin analogs, sGC stimulators, and Prostacyclin with ERAs contributing larger shares for revenue. 

As per the TMR report, the global pulmonary arterial hypertension market is estimated to exhibit an impressive CAGR of 17.90% within the forecast period of 2014 to 2020. The value is presumed to be at US$5.19 bn by the end of the forecast period. North America is anticipated to account for a king’s share during the forecast period followed by Europe. This is due to the high awareness about PAH treatments available that drives the growth of the market in both the regions.

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Asia Pacific to Witness Stable Growth with Increase in Preference for Generic Drugs  

The market is receiving a significant boost with the existence of promising pipelines and effective drugs approvals in present times. This is also acting as a primary factor in the growth and development of the pulmonary arterial hypertension market. The government is also taking active initiatives that are acting in favor of the PAH market growth.

According to a TMR, the license expiry of some blockbuster drugs are making way for generic drugs penetration. The increased sales of generic drugs adversely affect the overall revenue generation of the market since it is 70 to 80 per cent cheaper as compared to branded drugs. Cutting-edge therapies are developed for treating PAH. Therefore the future of pulmonary arterial hypertension market is presumed to be brighter in the years to come.

The market in Asia Pacific region is also presumed to be highly opportunistic in nature because of countries like China, Australia, Japan, New Zealand, and India, that has high growth rates. These emerging nations are estimated to be major global players in the future years.

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Patent Expiry of PAH Drug Remedies Affecting Market Growth in Negative Light

Pulmonary arterial hypertension does not have a permanent cure. Medications may only help to decrease the speed by which the disease spreads into the body. In most developing countries, people are unaware of the treatment. This acts as a hindrance in the growth of the PAH market. Apart from that, high cost of such remedies and license expiry may also add as barrier in the growth and development of PAH in the market.

However, the global PAH market is anticipated to see growth in the coming years due to a number of factors like increase in the number of obese population, rise in the healthcare expenses, and ageing population. Growing population of women and their rising health complexities also gives way to PAH market for growth since PAH mostly result from high blood pressure in the lungs. This may further lead to other diseases like obstructive sleep apnea (OSA), and diastolic heart failure, hence creating vast opportunities for PAH market to grow. The key trends in this market are consumption of junk food items, continuous support provided by the government and increase in the number of cardiovascular diseases.

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Alport Syndrome Market: Introduction

  • Alport syndrome is a rare genetic condition characterized by kidney disease, hearing loss, and eye abnormalities. This condition is caused by mutation in the genes COL4A3, COL4A4, and COL4A5, which are involved in the production of proteins such as type IV collagen. Patients suffering from Alport syndrome suffer from progressive loss of kidney function. Presence of blood in urine indicates abnormal functioning of the kidneys. A number of patients suffering from Alport syndrome develop high levels of proteins in the urine. As the condition progresses, the kidney function deteriorates leading to end-stage renal disease (ESRD).
  • People suffering from Alport syndrome experience inner ear abnormalities such as sensorineural hearing loss and vision loss. Eye abnormalities, hearing loss, and progressive kidney diseases are more common in men than women. Alport syndrome is quite rare and occurs in 1 in 50,000 newborns. Nearly 80% of Alport syndrome cases are caused by mutations in the COL4A5 gene located in the X chromosome.

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  • The other 15% of Alport syndrome cases is a result of mutations in the COL4A3 or COL4A4 genes. There is no cure for Alport syndrome; however, rich product pipeline promises effective treatment for the syndrome. Advanced diagnostic techniques for Alport syndrome are likely to help in the management of the symptoms and side effects.

Key Drivers and Restraints of Global Alport Syndrome Market

  • Alport syndrome is a major cause of kidney disease among the patient population. Rise in prevalence of genetic disorders is likely to augment the global Alport syndrome market. There is no cure for this syndrome. Hence, availability of drugs for the management of its symptoms such as high blood pressure is projected to boost the growth of the global market.
  • Demand for genetic testing as an effective diagnostic procedure for Alport syndrome is anticipated to drive the global Alport syndrome market. Moreover, skin biopsy and kidney biopsy are used for diagnosis of the early symptoms of Alport syndrome and faster adoption of these diagnostic techniques is a major factor propelling the global market.
  • High investments by the key players and initiatives by governments for research and development of drugs for managing Alport syndrome and its symptoms are likely to propel the global Alport syndrome market. Hence, faster adoption and availability of diagnostic tests across the globe are anticipated to augment the global Alport syndrome market. However, low awareness about the syndrome and its lower diagnosis rates in underdeveloped countries act as major restraints of the global Alport syndrome market.

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North America to Lead Global Alport Syndrome Market

  • In terms of region, the global Alport syndrome market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America dominated the global Alport syndrome market owing to the increase in incidence of the condition, advanced health care system, and presence of diagnostics companies. Additionally, advanced diagnostic tests and broad network of laboratories are anticipated to fuel the growth of the Alport syndrome market in North America. According to the Alport Syndrome Foundation, Alport syndrome affected around 200,000 people in the U.S. in 2017. Moreover, the syndrome is estimated to affect around 1 in 5,000 to 10,000 people in the country, which is 30,000 to 60,000 people. Moreover, Alport syndrome is estimated to affect around 3% of children with chronic kidney disease (CKD) and 0.2% of adults with end stage renal disease (ESRD). These factors drive demand for early diagnosis, development of advanced genetic testing kits, and faster adoption of skin and kidney biopsy for Alport syndrome. Moreover, robust research & development and rich product pipelines of the major players are likely to propel the Alport syndrome market in the region.
  • Europe was the second largest market for Alport syndrome diagnostics in 2018, followed by Asia Pacific. Clinical trials by key players and availability of advanced diagnostic tests for Alport syndrome are likely to augment the Alport syndrome market in Europe. Approval of Bardoxolone methyl by the EMA in May 2018 for chronic kidney disease, a symptom of Alport syndrome substantiates the fast track approval in Europe. Asia Pacific is projected to be the fastest growing market for Alport syndrome diagnostics. Developing health care facilities, rise in awareness, and development of diagnostic kits such as genetic tests, kidney biopsy, and other blood tests are anticipated to augment the Alport syndrome market in Asia Pacific.

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Key Manufacturers Operating in Global Alport Syndrome Market

The global Alport syndrome market is highly fragmented. Key players in the global Alport syndrome market are:

  • Illumina, Inc.
  • Merck KGaA (Sigma-Aldrich, Inc.)
  • PerkinElmer, Inc.
  • F. Hoffmann-La Roche Ltd.
  • Centogene AG
  • Myriad Women’s Health, Inc.
  • Quest Diagnostics
  • Others

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Tools and instruments that are available in the clinical microbiology labs for analysis of patient samples and diagnosis are evolving continuously. The main impetus behind this is to reduce the overall time taken to secure results from those lab instruments. In addition to that, increasing the sample turn-around time with the ultimate goal of earlier patient treatment, enhancing the ease of sample processing, and better recovery rates are also comprise the purpose for such evolution. This is particularly true in the case of Antimicrobial Susceptibility Test (AST). It is every hour saved in getting the results lead to an earlier switch to targeted antibiotic therapy that will have a direct influence on the improvement of clinical outcomes.

Global antimicrobial susceptibility test market is likely to observe a surge in its demand owing to overuse of antibiotics in medicine, antibiotic resistance mechanisms has come up as threat to modern medicine by reducing the utility of clinically relevant antibiotics.

Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., HiMedia Laboratories, Biotron Healthcare, Beckman Coulter, and Creative Diagnostics are some of the leading names that operate in the global antimicrobial susceptibility test market.

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According to a new study by Transparency Market Research (TMR), it is predicted that the global antimicrobial susceptibility test market will expand at a growth rate of 4.6% CAGR between 2017 and 2025. Global antimicrobial susceptibility test market is estimated to reach US$ 3814.0 mn by the end of the forecast period that spans from 2017 to 2025.

Increased Government Initiatives to Prevent Antibiotic Resistance Fuels North American Market

North America is expected to be the retain the position of the most promising market in the global antimicrobial susceptibility test market owing to the emergence of a multidrug resistant strain of Salmonella in the US. For example, in accordance with the report by Centers for Disease Control and Prevention (CDC), around 2 million people in the US were infected with antibiotic-resistant bacteria annually and 23,000 people died as a result of such infection.

Furthermore, government agencies in the US have taken the onus to control and prevent antibiotic resistance, which is anticipated to accelerate the adoption of antimicrobial susceptibility test in the country.

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Antimicrobial susceptibility test market in Asia Pacific is estimated to witness substantial growth during the period of forecast, 2017 to 2025. The market is expected to thrive on increased prevalence of microbial infections and rising consumption of antibiotics that eventually leads to development of resistance amongst the people. According to a report by WHO prevalence of multidrug –resistant tuberculosis is quite high though the treatment is very limited. Such factors trigger the growth of antimicrobial susceptibility test market in the region.

Improved Knowledge of Molecular Mechanisms Needed to Control Multidrug Resistance

In the recent years, there has been a drastic rise in the antibiotic resistance amongst bacterial pathogens and this is regarded as one of the biggest threats to global health in the current era. Globally, antibiotic resistance leads to 700,000 deaths each year and medical experts estimate the number could grow to 10 million deaths per year by 2050. Unless stringent actions are taken to check the misuse and overuse of antibiotics, antibiotic resistance will wreak havoc worldwide.

Data also hint that, though antibiotic resistant bacterial infections can occur in the community but most deaths owing to resistance take place in various in-patient healthcare settings such as nursing homes and hospitals. In a hospital setting, when a patient displays signs of infection such as sepsis, they are quickly put on empiric broad spectrum antibiotics. Current literature suggests that around 51% of the patients in general wards and nearly 82% of the patients in Intensive Care Units (ICUs) are already on antibiotics within 4 hours prior to collection of blood samples for culture.

Government healthcare regulatory agencies are proactively implementing measures essential to reduce or control its prevalence. In July 2018, the UK Standards for Microbiology Investigation (UK SMIs) made a recommendation of a core set of antibiotic susceptibilities, which should be set up for a variety of bacterial species isolated from various types of specimen.

Besides, enhanced knowledge of molecular mechanisms that control multidrug resistance is forecasted to facilitate the development of novel therapies, which would combat intractable infections and assist in the cultivation of a deeper understanding of the pathobiology of microbial organisms. Several awareness programs are being conducted to facilitate proper usage of new drugs to re-establish dominance over diseases.

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In the global monoclonal antibody therapeutics market, keen companies are seen partnering with both their local and international counterparts to take advantage of synergies. It enables them to reduce the cost of production, funnel greater amounts into research and development, and gain access to better human resources. Pfizer Inc., Novartis AG, Bayer AG, Sanofi, F. Merck & Co., Inc., Hoffmann-La Roche Ltd., GlaxoSmithKline Plc., and AbbVie Inc. are to name a few prominent participants in the global market for monoclonal antibody therapeutics

A recent research study by Transparency Market Research projects the market for monoclonal antibody therapeutics to attain a value of US$245.8 bn by the end of the forecast period in 2024 by rising at a solid double digit 12.6% CAGR from 2016 to 2024. The estimated valuation of the market as per our report was US$86.7 bn at the start of the forecast period in 2015.

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Monoclonal antibody therapeutics mostly find application in treating autoimmune diseases. This is because of the rising awareness about such diseases and their treatments, better accessibility to healthcare, and the growing applications of monoclonal antibody therapeutics on account of major thrust on their research and development. Going forward too, the rising cases of autoimmune diseases expected to generate maximum opportunities in the market. From a geographical standpoint, Europe and North America together accounted for a share of 62.7% in the global market for monoclonal antibodies therapeutics in 2015. Their market has been stoked by the rising number of elderly, solid reimbursement policies and affordable healthcare, and a strong knowledge about various diseases.

Surging Cancer Cases Underpin Demand in Market

Monoclonal antibody therapeutics is essentially a biological therapy that finds usage in treating different kinds of chronic conditions. Rheumatoid arthritis, cancer, Crohn’s diseases, osteoporosis, systemic lupus erythematous, and psoriasis, among others, can be treated leveraging the therapeutics. Monoclonal antibodies target just the affected areas to annihilate the diseased cells, thus helping the immune system to rebound. The surging cancer cases worldwide is a major driver of the monoclonal antibody therapeutics market. As per the WHO, cancer cases are expected to rise by 70.0% in the next couple of years and this will spell immense opportunities for the market.

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Apart from rising cases of cancer, investments into research and development of new antibodies, especially in the U.S. and Europe, along with speedy approval and commercialization of these drugs will also contribute to the surging revenue in the market. Our report finds that around five to six monoclonal antibodies receive a nod from regulatory bodies in these regions every year for launch in market.

Biosimilars, Used in Treating Similar Medical Conditions, Slow Down Demand for Monoclonal Antibodies

Despite the bright potential of the market, it is expected to be hobbled by the growing manufacture of biosimilars, which also find application in treating different autoimmune diseases and chronic conditions. In addition, expiry of patents for many monoclonal antibodies coupled with expensive and complex manufacturing process is hampering market growth. All such factors are serving to drive up prices of the final product thereby dampening sales.

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Transparency Market Research (TMR) has published a new report titled “Drug Delivery System Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. According to the, the global drug delivery system market was valued at approximately US$ 510.0 Bn in 2016 is projected to expand at CAGR of over 6.9% from 2017 to 2025. The report suggests that rise in prevalence of diseases and increases in demand for self-administration devices are likely to spur demand for drug delivery system in the during the forecast period (2017 to 2025).

Key players introduce new drugs delivery systems and devices in developed markets such a North America and Western Europe. Hence, these regions are likely to account for dominant share of the global drug delivery system market. Rise in R&D investment and launch of new and advanced technologies in emerging markets such as Japan and India are expected to boost the drug delivery system market in Asia Pacific. The market in the region is expected to expand at a CAGR of around 7.6% from 2017 to 2025.

Targeted Drug Delivery System Dominates the Market Followed by Polymeric Drug Delivery

The report offers detailed segmentation of the global drug delivery system market based on delivery system, application, route of administration, and geography. In terms of delivery system, the targeted drug delivery segment is expected to account for a dominant share of the global market during the forecast period. Simplified drug administration protocols, avoidance of first pass metabolism, lower dose required as compared to the conventional drug delivery, and higher therapeutic effect in small doses are some factors propelling the segment.

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The polymeric drug delivery segment is likely to expand at a considerable growth rate during the forecast period. Polymeric drug delivery systems allow localized drug delivery in large quantity for the treatment of chronic diseases such as cancer (more specifically, solid tumors) with lower toxicity. This is a major factor driving the segment.

Oncology and CNS: Top Two Application Areas of the Drug Delivery System Market

Based on application, the oncology segment is projected to hold a dominant share of the global drug delivery system market during the forecast period. It is likely to expand at CAGR of more than 7.4% from 2017 to 2025. Dominance of this segment is attributed to continuous innovations in drug offerings and wide product portfolio of major and local manufacturers. For instance, in September, 2017, Amgen Inc. and ALLERGAN collectively obtained FDA approval for the use of MVASI to treat five types of cancer, which includes metastatic carcinoma of the cervix, metastatic renal cell carcinoma, glioblastoma, metastatic colorectal cancer (mCRC), and non-squamous non-small cell lung cancer (NSCLC).

Continuous launch of new products and increase in the number of patients in developed and developing countries are likely to drive the segment between 2017 and 2025. According to WHO report, in 2015, around 8.8 million people died of cancer, of which, around 1.69 million died of lung cancer and 788,000 succumbed to liver cancer. This highlights the significant need for advanced drug delivery system to treat cancer. CAN and diabetes segment, accounted for more than 36.0% share of global drug delivery system market in 2016, in terms of value. It is anticipated to have substantial growth and account for approximately 36% of market share by 2025.

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Asia Pacific to Expand at an Exponential Growth Rate and Offer Significant Incremental Opportunity

In terms of value, North America was leading contributor to the global drug delivery system market in 2016. North America accounted for a key share of the market due to rise in prevalence of acute and chronic diseases in the U.S. According to WHO report 2016, non-communicable diseases accounted for 23% of total deaths in the U.S. Moreover, availability of advanced technology and facilities in the health care system also drive the drug delivery system market in the U.S.

Moreover, rise in research & development spending in emerging markets such as Singapore and Japan is fueling the market in Asia Pacific. Economic growth in countries such as Brazil is increasing health care expenditure through the rise in private health insurance and entry of international drug manufacturers and health care providers in Latin America. Hence, the market in the region is likely to expand at a CAGR of 5.5% from 2017 to 2025.

Key Players such as Boston Scientific Corporation, Johnson & Johnson Services, Inc. and Pfizer, Inc. are Likely to Continue to Lead the Global Drug Delivery System Market

The report also provides profiles of leading players operating in the global drug delivery system market, which include AstraZeneca plc., Pfizer Inc., Novartis AG, Bayer AG, F. Hoffmann-La Roche Ltd, Johnson & Johnson, Amgen Inc., Becton, Dickinson and Company, and Baxter International Inc. These player engage in expansion of drugs delivery system portfolio by improving existing drug delivery devices and developing and launching of new drug delivery system through collaboration. For instance, Becton, Dickinson and Company developed and launched 6mm pen needle for insulin to treat diabetes.

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