Regenerative Medicine Market Research Report with Latest Trend, Share, Size, Opportunities For $ 17.9 billion Industry

The Regenerative Medicine Market growth is driven by rising investments in regenerative medicine research, and the growing pipeline of regenerative medicine products, and the increase in prevalence of chronic diseases, genetic disorders, and cancer.

Growing prevalence of chronic diseases, genetic disorders, and cancer;

Over the last few decades, the incidence and prevalence of chronic diseases such as CVD, cancer, diabetes, ulcers, and genetic disorders such as cystic fibrosis have increased significantly across the globe. Diabetes and obesity can result in the increased incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and surgical wounds, which require treatments and incur exorbitant medical expenses.

Opportunity: Implementation of the 21st Century Cures Act;

The 21st Century Cures Act was signed into law in the US in December 2016. Among other objectives, this new law has been enacted to advance regenerative medicine research and medical innovation and covers various provisions that may impact the development and approval of several products in the coming years.

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Regenerative Medicine Market

The tissue-engineered products segment accounted for the largest share of the Regenerative Medicine Market.

Based on products, segmented into tissue-engineered products, cell therapies, gene therapies, and progenitor and stem cell therapies. The tissue-engineered products segment accounted for the largest share in the market in 2019. The increasing adoption of tissue-engineered products for the treatment of chronic wounds and musculoskeletal disorders and the rising funding for the R&D of regenerative medicine products and therapies are the major factors driving the growth of this segment.

Oncology segment to register the highest growth rate during the forecast period

Based on applications, the Regenerative Medicine Market is segmented into musculoskeletal disorders, wound care, oncology, ocular disorders, dental, and other applications. In 2019, the oncology segment accounted for the highest growth rate. This can be attributed to the rising prevalence of orthopedic diseases, growing geriatric population, increasing number of stem cell research projects, growing number of clinical researches/trials, and the rich pipeline of stem cell products for the treatment of musculoskeletal disorders.

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Recent Developments:

– In February 2020, Integra Lifesciences (US) launched AmnioExcel Plus Placental allograft membrane.

– In November 2019, Stryker Corporation (US) acquired Wright Medical (US) to strengthen its product portfolio.

– In March 2019, Smith & Nephew (UK) acquired Osiris Therapeutics (US) to strengthen its product portfolio.

North America is the largest regional market for Regenerative Medicine Market

The market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share in the market. The growth in the North American market can be attributed to rising stem cell banking, tissue engineering, and drug discovery in the region; expansion of the healthcare sector; and the high adoption of stem cell therapy and cell immunotherapies for the treatment of cancer and chronic diseases.

The major players operating in this Regenerative Medicine Market are 3M (US), Allergan plc (Ireland), Amgen, Inc. (US), Aspect Biosystems (Canada), bluebird bio (US), Kite Pharma (US), Integra LifeSciences Holdings Corporation (US), MEDIPOST Co., Ltd. (South Korea), Medtronic plc (Ireland), Anterogen Co., Ltd. (South Korea), MiMedx Group (US), Misonix (US), Novartis AG (Switzerland), Organogenesis Inc. (US), Orthocell Limited (Australia), Corestem, Inc. (South Korea), Spark Therapeutics (US), APAC Biotech (India), Shenzhen Sibiono GeneTech Co., Ltd. (China), Smith & Nephew plc (UK), Stryker Corporation (US), Takeda Pharmaceutical Company Limited (Japan), Tego Science (South Korea), Vericel Corporation (US), and Zimmer Biomet (US).

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Point of Care Diagnostics Market – Growth Factors Analysis, Share and Forecast

The Point of Care Diagnostics Market growth of the global Point of Care diagnostics market can be attributed to factors such as increasing prevalence of respiratory diseases (such as COVID-19 and influenza) across the globe, and improved access to point-of-care devices through online platforms are some of the other key factors likely to drive the long-term growth.

High prevalence of infectious diseases:

The POC tests can greatly improve the management of infectious diseases, especially in developing countries where access to timely medical care is a challenge and the healthcare infrastructure is antiquated and sparse. According to UNAIDS, around 20.6 million people were living with HIV in East and Southern Africa in 2018. In 2019, 20,000 new HIV cases were registered in the Middle East and North Africa (Source: UNAIDS Data 2020). In the Asia Pacific, an estimated 5.8 million people were suffering from HIV in 2019, led by India and China. According to UNAIDS, in 2019, approximately 2.1 million people in India were infected with HIV. The high prevalence of HIV is likely to boost the demand for point-of-care diagnostics, further accelerating the treatment of HIV infection.

Listed below are important statistics related to major infectious diseases in developing countries:

• According to the WHO, India has the highest tuberculosis burden, with an estimated incidence of 2.64 million cases in 2020.|
  
• In 2019, around 4.3 million new tuberculosis cases were reported in Southeast Asia, and 632,000 people died due to TB infections in this region (Source: WHO).
  
• According to the National Influenza Policy 2017, around 10,000 deaths and 40,000 hospitalizations are caused due to influenza in South Africa each year.

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Point of Care & Rapid Diagnostics Market

The point of care diagnostics market includes major Tier I and II suppliers like the point-of-care diagnostics market are Roche Diagnostics (Switzerland), Abbott Laboratories (US), Siemens Healthineers (Germany), Becton, Dickinson and Company (US), Johnson & Johnson (US), Danaher Corporation (US), Chembio Diagnostics (US), Quidel Corporation. These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has impacted their businesses as well. Demand for point of care diagnostics from key end-users has increased rapidly amidst the global COVID-19 pandemic. Industry experts believe that COVID-19 will have long erm increase in the growth for the point of care diagnostics market in 2020. Along with this, increase in prevalence of different types of infectious diseases, easy access of POC products through online platforms, and growing awaness about the low turnout time of diagnosis using rapid point of care test in turn will boost demnd for POC devices in the coming years.

Demand for glucose monitoring products for home use result in the segment occupying the high share of the point of care diagnostics market

Glucose monitoring products owes a good market share in point of care diagnostics market. The large share of this segment is attributed to factors such as the increase in the availability of glucose motioring devices increase in the prevalence of diabetes couples with growing collaborations among players for develop advance PoC deviceas and rapus shift towards the adoption of home helathacare products.

Asia Pacific likely to emerge as the fastest growing point of care diagnostics market, globally

Geographically, the emerging Asian countries, such as China, India, South Korea, Japan and Singapore, are offering high-growth opportunities for market players. The Asia Pacific point of care market is projected to grow at the highest CAGR of 18.8% from 2020 to 2025. initiatives by the government,rising awareness about selftesting products, and increase in collaborations among key players in the point-of-care diagnostics market in the region. increasing number of hospitals in India and China; and rapid expansion of healthcare infrastructures,and increase in thenumber of research centers are driving the growth of the APAC point of care diagnostics market.

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Prominent players in this market Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Becton Dickinson and Company (US), Abbott Laboratories (US), Quidel Diagnostics (US), and Chembio Diagnostics (US). Other prominent players operating in this market are EKF Diagnostics (UK), Trinity Biotech (Ireland), and Fluxergy (France).

Contract Research Organization Services Market – Developing Regions is Well-Positioned for Strong Growth in the Coming Years

The Contract Research Organization (CROs) Services Market is estimated to grow from USD 115.1 billion by 2027 from USD 68.3 billion in 2022, at a CAGR of 11.0 % during the forecast period.

Increasing investment in pharmaceutical R&D:

Most pharmaceutical, biopharmaceutical, and medical device companies continue to invest heavily in the development of novel drugs and devices. The pharmaceutical industry, in particular, is R&D-intensive. Pharmaceutical companies invest in R&D to deliver high-quality and innovative products to the market. Trends suggest that the top pharmaceutical companies are increasing their R&D efficiencies through heavy investments in R&D and through collaborative R&D efforts. According to the EvaluatePharma report, the global pharmaceutical R&D spending was valued at USD 137 billion in 2012; this increased to USD 212 billion in 2021 and is projected to reach USD 254 billion by 2026. As per the report, R&D spending is observed to be growing steadily at a CAGR of 4.2% from 2020 to 2026. This is expected to boost the outsourcing of research services by pharmaceutical companies, biotechnology companies, as well as research and academic organizations.

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Contract Research Organization (CROs) Services Market

Growth in the drugs and biologics market despite the COVID-19 pandemic:

Despite the ongoing COVID-19 pandemic, 2020 has been the second-best year for the pharmaceutical industry in terms of the number of drugs approved by the US FDA. This year witnessed the authorization of 53 drugs—a number surpassed only in 2018 with 59 pharmaceutical agents. The 53 approvals in 2020 comprised 40 new chemical entities and 13 biologics. The approved biologics included 10 monoclonal antibodies, 2 antibody-drug conjugates, 3 peptides, and 2 oligonucleotides. The FDA has authorized 160 drugs in the last three years (2018–2020), compared to the approval of only 21 drugs in 2010. This growth in the number of approved products worldwide is attributed to the rising investments by biopharmaceutical companies to develop biologics and biosimilars. Currently, more than half of the drug candidates in the discovery stage are biologics, such as proteins, peptides, and monoclonal antibodies. Biologics are expected to contribute around half of the revenue generated by the top 100 pharmaceutical product sales in 2022.

The clinical research services subsegment accounted for the largest share of the type segment in the CRO services market in 2021.

Based on type, the Contract Research Organization Services Market is segmented into clinical research services, early-phase development services, laboratory services, consulting services, and data management services. The clinical research services segment accounted for the largest share of this market in 2021. The large share of this segment can primarily be attributed to factors such as the increasing R&D of new drugs and the high cost of clinical trials.  

The oncology subsegment accounted for the largest share of the therapeutic area segment in the CRO services market in 2021. 

Based on therapeutic area, the Contract Research Organization (CROs) Services Market is segmented into oncology, infectious diseases, neurology, vaccines, cardiovascular system (CVS) disorders, metabolic disorders/endocrinology, immunological disorders, respiratory disorders, psychiatry, dermatology, hematology, ophthalmology, gastrointestinal diseases, genitourinary & women’s health, and other therapeutic areas. The oncology segment accounted for the largest share of the global Contract Research Organization Services Market in 2021. The large share of this segment is primarily attributed to the increasing number of drug discovery activities for oncology and the rising prevalence of cancer worldwide.

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The Asia Pacific region is the fastest-growing region of the CRO services market in 2021.

Based on the region The global Contract Research Organization (CROs) Services Market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The market in the Asia Pacific is estimated to record the highest CAGR during the forecast period. This can be attributed to the fast-growing pharmaceutical industry in the region, favorable government policies, increasing number of pharmaceutical companies establishing their manufacturing facilities in the region, and the lower cost of clinical trials in the region.

Key players in the Contract Research Organization Services Market include IQVIA Inc. (US), Laboratory Corporation of America Holdings (US), PPD, Inc. (Now a part of Thermo Fisher Scientific Inc.) (US), ICON plc (Ireland), Syneos Health, Inc. (US), Parexel International Corporation (US), and Charles River Laboratories International Inc. (US)

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Virology Specimen Collection Market – Emerging Industry Trends and Global Future Forecast

The Growth in Virology Specimen Collection Market is mainly driven by the rising prevalence of viral diseases, the increasing prevalence of human papillomavirus (HPV) and cervical cancer, and the growing number of blood donations.

Rising prevalence of viral diseases and emergence of newer pathogens:

The Zika virus and Babesia outbreaks, alongside announcements for their inclusion in virology specimen collection tests, indicate the need for innovation in virology specimen collection technologies, consumables, and instruments. Other countries have also undertaken initiatives to check for new and emerging diseases. For example, the prevalence of malaria in African regions and the possibility of mosquito-borne transfer of Zika has resulted in mandates for Zika virus screening in the region.

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This research study involved four major activities in estimating the current size of the virology specimen collection market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.

The viral transport media segment accounted for the largest share of the specimen collection market, by product segment, in 2020

Based on product, the virology specimen collection market is segmented into blood collection kits, specimen collection tubes, viral transport media and swabs. The viral transport media segment accounted for the largest share of the market in 2020. Factors such as rising prevalence of viral diseases and emergence of newer pathogens are contributing for the growth of this market.

Blood segment to register the highest growth rate during the forecast period

The virology specimen collection market is segmented into blood, nasopharyngeal, nasal, throat, cervical, oral and other samples. In 2020, the blood segment accounted for the highest growth rate. Factors such as the rising number of blood donations and rising prevalence of viral diseases and emergence of newer pathogens.

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Geographically: The global Virology Specimen Collection Market is segmented into four major regions, namely, North America, Europe, the Asia Pacific and Rest of the World. In 2020, North America accounted for the largest share of the market. The large share of this region can be attributed to increasing number of blood donations in the region.

The major players operating in virology specimen collection market are Becton, Dickinson and Company (US), Quidel Corporation (US), Thermo Fisher Scientific, Inc. (US), Trinity Biotech (Ireland), Titan Biotech, Ltd. (India), Diasorin SA (Italy), Vircell S.L. (Spain), Copan Italia S.p.A. (Italy), Puritan Medical Products, Co. (Guilford, ME) and Hardy Diagnostics (US).

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Global Animal Genetics Market Size, and Growth Projection

Growth Factors Driving the Market: The growth of Animal Genetics Market is majorly attributed to the increasing consumption of animal-derived protein, growing global population & rapid urbanization, growing focus on identifying superior breeds, increased adoption of genetic services to prevent genetic diseases & business loss, and increased adoption of advanced genetic technologies. On the other hand, the shortage of skilled professionals in veterinary research is a key factor restraining market growth.

The global animal genetics market is projected to reach USD 7.7 billion by 2026 from USD 5.5 billion in 2021, at a CAGR of 7.1% during the forecast period.

Animal Genetics Market

Industry Segmentation in Detailed:

“The live animals segment accounted for the largest market share in 2020”

Among the product segment, the live animals segment accounted for the largest market share in 2020. The large share of this segment is attributed to the large demand for poultry meat and eggs in developed countries, and simultaneously increasing demand for the same in developing countries due to the growing population and rapid urbanization in these regions. Additionally, changing diet patterns and increasing disposable income also contribute to a shift towards increased consumption of animal protein.

In the live animals segment, poultry accounted for the largest market share during the forecast period. This can be attributed majorly to the strong demand for poultry and eggs in developed countries. Additionally, in developing countries, the growing population and rapid urbanization is contributing to the rising global demand for poultry.

“Poultry accounted for the largest market share in the live animals segment during the forecast period.”

In the live animals segment, poultry accounted for the largest market share during the forecast period. This can be attributed to the strong demand for poultry and eggs in developed countries. Additionally, due to the growing population and rapid urbanization in developed countries, the demand coming from these regions is also increasing significantly.

“semen accounted for the largest market share during the forecast period”

Under the segment of the genetic material, semen held the largest share, most of which came from bovine semen during the forecast period. Growth in this market is mainly driven by the increasing need for raising highly productive animals to meet the growing demand for meat and other animal-derived products.

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Leading Key Players Analysis:

The major players in the global animal genetics market are Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US), Hendix Genetics (Netherlands), and Animal Genetics (US). Some other players in the market include VetGen (US), DanBred (Denmark), Tropical Bovine Genetics (India), Trans Ova Genetics (US), Inguran LLC dba ST Genetics (US), Semex Alliance (Canada), Genetic Veterinary Sciences (US), Cobb-Vantress (US), Milk Source (US), Eurogene AI Services (Ireland).

Geographical Trends in Detailed:

Europe dominates the Animal Genetics market during the forecast period.

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The high growth in this regional market can be attributed to the established livestock sector, growing porcine industry, increasing population and urbanization, rising per capita incomes and increasing per capita spending on animal care, and increasing awareness about technologically advanced animal genetic products and services in this region.

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Cell Culture Media Market – Research Provides In-Depth Detailed Analysis of Trends and Forecast

The growth is majorly driven by the rising R&D spending in pharmaceutical companies, emerging cell culture technologies for cell-based vaccines, increasing demand for monoclonal antibodies, growth in stem cell research, the launch of new cell culture media by market players, and the growing focus on personalized medicine. On the other hand, expensive cell biology research products and ethical concerns regarding cell biology research are expected to hinder the growth.

Emerging cell culture technologies for cell-based vaccines;

In the pharmaceutical industry, cell culture has become a prominent part of vaccine production. The cell culture technology has been used to produce vaccines for rotavirus, polio, smallpox, hepatitis, rubella, and chickenpox. Cell-based flu vaccines have also been approved for use in the US and many European countries.

Earlier, vaccines were manufactured by growing and harvesting viruses in chicken eggs, which was a time-consuming process. On the other hand, cell culture-based vaccine production is a far more efficient method. Its advantages over traditional manufacturing methods include a shortened lead-time and the capability to produce vaccines in larger quantities as per demand. Moreover, cell culture-based vaccines can be stored over a longer period. According to a study published by the CDC in the Journal of Infectious Diseases (June 2020), cell-based vaccines provided greater protection against flu-related hospitalizations than standard-dose egg-based vaccines among Medicare beneficiaries 65 years and older. For the 2020-2021 flu season, all four flu viruses used in Flucelvax Quadrivalent were cell-derived. Consequently, recent years have seen a surge in cell-based vaccines, resulting in efforts by prominent companies to capitalize on the opportunities provided. Seqirus, for example, has been active in this field.

• In February 2020, Seqirus (a part of CSL Limited) received US FDA approval for AUDENZ, a cell-based Influenza A (H5N1) Monovalent Vaccine for individuals aged six months and older.
  
• In January 2019, Seqirus received approval from the European Commission for its new cell-based seasonal influenza vaccine, FLUCELVAX TETRA.

Cell Culture Media Market

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The global cell culture media market is projected to USD 10.3 billion by 2026 from USD 4.9 billion in 2021, at a CAGR of 16.0 % between 2021 and 2026.

Report Objectives:

• To define, describe, and forecast the global cell culture media market based on type, application, end user, and region.
  
• To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, opportunities, and challenges)
  
• To strategically analyze micro-markets with respect to individual growth trends, future prospects, and contributions to the overall cell culture media market
  
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

The serum-free media subsegment of the type segment dominated Cell Culture Media Market in 2020:

by type, is segmented into serum-free media, classical media & salts, stem cell culture media, specialty media, chemically defined media, and other cell culture media. In 2020, the serum-free media segment accounted for the largest share of the market. This can be attributed to the advantages of serum-free media over other types of media, including consistent performance, increased growth & productivity, better control over physiological responsiveness, and reduced risk of contamination by serum-borne adventitious agents in cell culture.

North America was the largest regional market for Cell Culture Media Market in 2020.

The global cell culture media market has been segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. In 2020, North America accounted for the largest share of the cell culture media market, followed by Europe. The growing regulatory approvals for cell culture-based vaccines, growth in the biotechnology & pharmaceutical industries, higher investments in cell-based research, and strong government support are the key factors driving the growth of the cell culture media market in North America.

Key Market Players:

Key players in the Cell Culture Media Market include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), Sartorius AG (Germany), Corning Incorporated (US).

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Aptamers Market – Segmentation, Geographical Analysis & Major Key Players

Growth Factors Driving the Market: The Growth of aptamers market is attributed to factors such as increase in number of clinical trials for development of aptamer-based therapeutics, increase in awareness about advantages of aptamers as compared to antibodies, rising investment in pharmaceutical R&D, and rising prevalence of chronic and rare diseases to increase the demand for aptamer-based therapeutics and diagnostics. Growth in the venture capital funding for research on aptamers and growing collaborations with research institutes and pharmaceutical companies are also expected to offer a wide range of growth opportunities to players in the market. On the other hand, low market acceptance as compared to antibodies is likely to restrain the market growth while shortage of skilled & trained professionals may challenge market growth to a certain extent.

MarketsandMarkets™ View on Revenue: The aptamers market valued at an estimated USD 151 million in 2021 and is projected to reach USD 342 million by 2026, at a CAGR of 17.7% during the forecast period.

aptamers market

Industry Segmentation in Detailed:

“The therapeutics development segment will continue to dominate the aptamers application market during the forecast period”

Based on the application, the aptamers market is segmented into therapeutics development, research & development, diagnostics, and other applications. In 2020, the therapeutics development segment dominated the market due to the increasing number of clinical trials evaluating aptamers for new therapies and collaborations among aptamer companies & prominent pharmaceutical and biotechnology firms. The diagnostic segment is projected to grow at the highest CAGR due to the increasing prevalence of chronic diseases and the development of new diagnostic kits to detect cancer and other diseases.

“Pharmaceutical & biotechnology companies are the largest end users of aptamers technology”

Based on end user, the global aptamers market is segmented into pharmaceutical companies & biotechnology companies, academic & government research institutes, contract research organizations, and other end users. In 2020, pharmaceutical & biotechnology companies dominated the market owing to the increasing number of market players offering custom aptamers for use in therapeutics development & rising R&D expenditure. The diagnostic segment will record the highest CAGR during the forecast period due to the development of diagnostic tools for cancer and infectious diseases.

“The DNA-based aptamers segment will continue to dominate the aptamers type market during the forecast period”

Based on type, the aptamers market is segmented into DNA aptamers, XNA aptamers, and RNA aptamers. The DNA-based aptamers segment dominated the market in 2020. The large share of this segment is attributed to their lower production cost and higher stability compared to other nucleic acid-based aptamers and the wide availability of DNA aptamers.

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Leading Key Players Analysis:

Some of the key players operating in the aptamers technology market include Aptamer Group (UK), Raptamer Discovery Group (US), SomaLogic Inc., (US), Aptamer Sciences, Inc. (South Korea), Aptagen, LLC (US), Maravai Lifesciences (US), Kaneka Corporation (Japan), NeoVentures Biotechnology Inc. (Canada), Aptus Biotech (Spain), Base Pair Biotechnologies (US), AMSBIO (UK), Novaptech (France), Bio-Techne (US) among others.

Geographical Trends in Detailed:

The global aptamers market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of this market. The largest share of North America is attributed to the availability of funds to develop innovative technologies, the presence of prominent market players, and growing collaborations among companies. The Asia Pacific market is estimated to record the highest CAGR during the forecast period. This is attributed to the rising R&D activities on aptamers, the development of aptamer-based products, and the rising focus on drug discovery and development.

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Veterinary Equipment Market | Geographical Growth | Opportunities | Key Players

According to a new market research report “Veterinary Equipment and Disposables Market by Product (Consumables, Anesthesia Machines, Ventilators, Patient Monitoring, Oxygen Masks, Infusion Pumps), Animal (Cats, Dogs, Equines, Bovines), End User (Hospitals, Clinics) – Global Forecast to 2023″, published by MarketsandMarkets™, the global Veterinary Equipment Market is projected to reach USD 2.40 billion by 2023 from USD 1.63 billion in 2018, at a CAGR of 8.0% during the forecast period of 2018 to 2023.

The Veterinary equipment and disposables are used in monitoring, surgeries, and the treatment of diseases in animals. Rising animal health expenditure and growing demand for pet insurance, increasing number of veterinary practitioners in developed regions, and growth in the companion animals market are the primary drivers for the global veterinary equipment market and veterinary disposables market during the forecast period.

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Growth in the companion animal population;

The adoption of companion animals has grown globally due to the positive health benefits associated with them—reduced cardiac arrhythmias, normalization of blood pressure, decreased anxiety, greater psychological stability, and improved wellbeing. According to the APPA National Pet Owners Survey 2017–2018, the canine population in the US increased from 69.9 million in 2012 to 89.7 million in 2016, while the feline population increased from 74.05 million in 2012 to 94.2 million in 2016. According to the European Pet Food Industry Federation (FEDIAF), the canine population in Germany increased from 5.30 million in 2012 to 8.66 million in 2016, whereas the feline population increased from 8.20 million in 2012 to 13.40 million in 2016.

Emerging markets such as Brazil, China, India, and Mexico are also witnessing growth in animal ownership. According to the India International Pet Trade Fair (IIPTF), the number of pets increased from 11 million in 2014 to 15 million in 2016. Approximately 600,000 pets are adopted every year in India. Such trends are expected to support the growth of the animal health industry, which, in turn, will drive the growth of dependent industries such as veterinary equipment market and veterinary disposables market.

The critical care consumables segment is expected to account for the largest share of the Veterinary Equipment and Disposables Market in 2018. 

On the basis of type, the critical care consumables segment accounted for the largest share of the global Veterinary Equipment and Disposables Market. The large share of consumables can be attributed to the large number of consumables required and consumed in almost every veterinary care process, as opposed to the one-time cost of capital equipment.

The small companion animals will continue to dominate the Veterinary Equipment and Disposables Market during the forecast period.

Based on animal, the small companion animals’ segment will dominate the Veterinary Equipment and Disposables Market in 2023. The large share of this segment can be attributed to the high adoption of companion animals and rising expenditure on animal health.

The veterinary clinics segment is estimated to hold the largest market share of the Veterinary Equipment and Disposables Market in 2023.

Based on end user, veterinary clinics are estimated to hold the largest share of the Veterinary Equipment and Disposables Market in 2023. The large share of this segment can be attributed to the growing number of patient visits along with the increasing number of private clinical practices and increasing practice revenues.

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North America will dominate the market in 2023. 

North America is estimated to hold the largest share of the Veterinary Equipment and Disposables Market during the forecast period, followed by Europe and the Asia Pacific. Factors such as the increasing number of companion animals, rising companion animal healthcare expenditure, rise in the number of livestock animals in North America (primarily due to the increasing consumption of meat and dairy products), and growth in the pet insurance market are responsible for the region’s large share in the global Veterinary Equipment and Disposables Market.

The prominent players in the Veterinary Equipment and Disposables Market are Mindray Medical International Limited (China), Smiths Group plc (UK), Nonin Medical (US), Digicare Biomedical Technology, Inc. (US), B. Braun Melsungen AG (Germany), Henry Schein (US), Vetland Medical Sales and Services, LLC (US), Hallowell Engineering & Manufacturing Corporation (US), Infiniti Medical, LLC (US), DRE Veterinary (US), and Midmark Corporation (US).

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Research Insights on Hernia Repair Market Share, Size and Analysis Report

According to the new market research report “Hernia Repair Market by Product (Mesh (Synthetic, Biologic), Mesh Fixation (Suture, Tack and Glue Applicator)), Surgery Type (Inguinal, Incisional/Ventral, Umbilical, Femoral), and Geography (America, Europe, Asia Pacific) – Forecast to 2023″, published by MarketsandMarkets™, the hernia mesh market is projected to reach USD 4.75 Billion by 2023 from USD 4.09 Billion in 2018, at a CAGR of 3.0% during the forecast period.

Recent Developments:

– In 2017, BD acquired C. R. Bard. With this acquisition, BD entered the hernia repair business. The acquisition is expected to help C. R. Bard to increase its geographic presence in terms of both—sales and operations and maintain its market position.

– In 2017, Allergan acquired LifeCell Corporation. This acquisition expanded its medical aesthetic products portfolio by the addition of ALLODERM and STRATTICE.

– In June 2017, W. L. Gore GORE launched SYNECOR Preperitoneal Biomaterial. The newly launched product helped the company to broaden its product offerings in the hernia market

– In 2016, B. Braun opened its new subsidiary in Zambia named ‘B. Braun Medical Zambia Limited’ which will help the company to establish a strong foothold in Southern Africa.

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The rising adoption of mesh in hernia repair surgeries, rising geriatric population, new product developments, and favorable reimbursement scenario in developed countries are the major factors driving the growth of this market.

The report analyzes and studies the patient population affected with hernia in the US, Canada, Germany, France, the UK, Japan, China, and India. Along with patient population, the report studies the adoption of synthetic and biologic mesh in hernia repair surgeries and the adoption of suture, tack, and glue applicators for mesh fixation.

The hernia mesh segment is estimated to account for the largest share of the hernia mesh market

On the basis of product, the hernia repair market is segmented into mesh and mesh fixators. A mesh is used for reinforcing weak spots in the muscle while repairing the hernia. Mesh fixators are used to fix the mesh in its place to avoid displacement. In 2018, the hernia mesh segment is expected to account for the largest share of the market. This large share can be attributed to the higher prices of meshes compared to mesh fixators.

In 2018, tack applicators to account for the largest share of the mesh fixators market

The hernia mesh fixators market is segmented into sutures, tack applicators, and glue applicators. Among these, sutures is the most common type of mesh fixator, followed by tack. However, due to the higher price of tacks, the tack applicators segment is expected to account for the largest share in the mesh fixators market in 2018. While the rising adoption of surgical glue as mesh fixators makes glue applicators the fastest growing segment of the mesh fixators market.

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In 2018, North America is projected to account for the largest market share

The global hernia repair market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2018, North America is estimated to account for the largest market for hernia mesh devices. The large share of North America in this market can be attributed to the strong demand for and adoption of hernia repair in the US, presence of a large pool of hernia patients, and an efficient and favorable healthcare system are supporting the growth of the hernia mesh market in North America.

The major players in the hernia repair market profiled in this report are Covidien ( Part of Medtronic) (Ireland), Ethicon (Part of Johnson & Johnson) (US), B. Braun (Germany), C.R. Bard (Part of Becton Dickinson) (US), W. L. Gore (US), LifeCell (Part of Allergan) (Ireland), Maquet (Part of Getinge) (Sweden), Cook Medical (US), Integra (US), DIPROMED (Italy), FEG (Germany), Cousin Biotech (France), Herniamesh (Italy), Aspide Medical (France), TransEasy Medical (China), and Via Surgical (Israel).

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Ultrasound Market Analysis, Top 10 Company Profiles, Regional Revenue and Forecast to 2026

According to the new market research report “Ultrasound Market by Technology (Diagnostic (2D, 3D, Doppler), Therapeutic (HIFU, ESWL)), Display (Color, B&W), Portability (Trolley, POC), Application (Gynecology, Cardiology, Orthopedic), Component (Probe), End user (Hospitals) – Global Forecasts to 2026“, published by MarketsandMarkets™, the global market is projected to reach USD 9.0 billion by 2026 from USD 6.7 billion in 2021, at a CAGR of 6.3% during the forecast period.

Growth Driver: increasing prevalence of target diseases;

The high and increasing incidence of target diseases and conditions will boost the adoption of effective diagnostic and therapeutic procedures. The burden of chronic and lifestyle diseases has increased in recent years. The burden of cancer, for example, was expected to increase from 14.1 million new cases in 2012 to 19.3 million new cases in 2020 (Source: GLOBOCAN, 2020).

As ultrasound technologies are cost-effective, safer, and offer earlier diagnosis & treatment of target diseases, their demand in disease management is expected to increase during the forecast period. Important statistics related to other major target diseases have been mentioned below:

– According to the American Heart Association, by 2030, about 41.4% of US adults will have hypertension (an increase of 8.4% from 2012)

– The burden of cancer, for example, is expected to increase from 14.1 million new cases to 18.1 million new cases during 2012- 2018 (Source: GLOBOCAN, 2018)

– Globally, 415 million people had diabetes in 2015; by 2040, this figure will reach 642 million (Source: IDF Diabetes Atlas, 8th Edition). The number of diabetics in developing countries is expected to reach 228 million in 2025.

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Ultrasound Market

The growth of this market is mainly driven by the increasing prevalence of target diseases, which have supported the demand for effective diagnostic procedures.

Ultrasound technology has been traditionally used by healthcare professionals in OB/GYN applications for fetal imaging and the diagnosis of fetal abnormalities (such as tangled umbilical cord and developmental abnormalities). With technological advancements in the field of medical imaging as well as minimally invasive surgical procedures, ultrasound is increasingly gaining prominence in disease diagnosis and the treatment for various applications, such as cardiology, vascular disorders, urology, breast cancer, orthopedics, and musculoskeletal injuries. This has led a number of manufacturers and independent researchers to focus on the development and commercialization of application-specific ultrasound devices.

The 3D & 4D ultrasound subsegment of diagnostic ultrasound to register significant growth in the ultrasound market by 2026

Based on technology, the market is segmented into diagnostic and therapeutic ultrasound. The diagnostic ultrasound segment is further categorized into 2D, 3D & 4D, and Doppler ultrasound. These technologies are used for the visualization and diagnosis of various medical conditions (such as gynecological disorders and neurological conditions), fetal imaging, and the imaging of organs. The growth of this market is driven by the rising preference for 3D/4D ultrasound across developed markets and their technological benefits as compared to 2D ultrasound.

Based on system portability, the trolley/cart-based ultrasound systems segment is expected to account for the largest share of the market in 2020

On the basis of system portability, the ultrasound market is segmented into trolley/cart-based ultrasound systems, compact/handheld ultrasound systems, and point-of-care ultrasound systems. The trolley/cart-based ultrasound systems segment is expected to account for the largest share of the ultrasound market in 2020. The growing demand for trolley/cart-based ultrasound systems is mainly attributed to the growing adoption of these systems across major markets due to their increased use in acute care settings and emergency care in hospitals and healthcare institutions.

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The vascular applications segment is expected to register the highest growth rate during the forecast period

Based on application, the market is divided into eight segments-radiology/general imaging applications, obstetrics/gynecology applications, cardiology applications, urological applications, vascular applications, orthopedic & musculoskeletal applications, pain management applications, and other applications. Vascular ultrasound is one of the fastest-growing application segments in the ultrasound market majorly due to the rising incidence of vascular disorders across the globe, coupled with the greater adoption of vascular ultrasound for the diagnosis of these disorders and technological advancements in the field of 3D/4D imaging.

On the basis of component, the market is segmented into transducers/probes, workstations, and other components. The transducers/probes segment is further divided into curvilinear/convex array probes, liner array probes, phased array probes, and other probes. The transducers/probes segment accounted for the largest share of the market in 2020. This can be attributed to technological advancements, the introduction of specially designed products, and the rising adoption of ultrasound technology for the diagnosis of various disease indications.

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Europe is expected to dominate the global ultrasound market in 2020

In 2020, Europe is expected to account for the largest share of the global ultrasound market. This can be attributed to the large number of ongoing clinical research projects in the field of ultrasound, expansions in the clinical applications of focused ultrasound (and the early commercialization of these devices in Europe), and the significant healthcare expenditure across mature European countries (such as Germany, France, the UK, Italy, and Spain).

GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Hitachi, Ltd. (Japan), Siemens Healthineers AG (Germany), Hologic, Inc. (US), FUJIFILM Holdings Corporation (Japan), Samsung Electronics Co., Ltd. (Korea), Mindray Medical International Limited (China), Analogic Corporation (US), Esaote S.p.A (Italy), Carestream Health (US), CURA Healthcare (India), Chison Medical Technologies Co., Ltd. (China), Mobisante, Inc. (US), Neusoft Corporation (China), Clarius Mobile Health (Canada), Medgyn Products, Inc. (US), and United Imaging Healthcare Co., Ltd. (China), among others are some of the major players operating in the global ultrasound market.