Industry Analysis Reports | Health Care | Medical Devices

Thursday, 22 October 2020

Updates: Neurovascular Devices Market Trends, Global Analysis and Demand

Neurovascular Devices Market Synopsis:

Increased incorporation of advanced technology in the healthcare sector has led to the development of various medical devices that can be utilized to treat complex medical conditions. Neurovascular devices are advanced medical devices that are used to treat various neurovascular diseases that can affect the central nervous system and associated vascular system. Market Research Future (MRFR) has published a report stating that the global neurovascular devices market is marked to expand at a noteworthy CAGR of 8.8% during the forecast period of 2017-2023.

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High prevalence of neurovascular diseases in developed and developing regions as a result of changing lifestyle and increased healthcare expenditure are majorly fueling the expansion of the global neurovascular devices market during the assessment period. Increased research and development expenditure and rapid technological advancement in the healthcare sector are also propelling the expansion of the global neurovascular devices market. However, poor economic conditions and lack of primary healthcare facilities are likely to restrain the expansion of the global neurovascular devices market during the forecast period.

Neurovascular Devices Market Top Key Players:

The key players profiled by MRFR that are operating in the global neurosurgery devices market are Stryker, Medtronic, Johnson & Johnson Services, Inc., TERUMO CORPORATION, Abbott, Merit Medical Systems, Inc., Medikit co., ltd., Penumbra, Inc., MicroPort Scientific Corporation, Evasc, Rapid Medical, Neuravi, W. L. Gore & Associates, Inc., OxfordEndovascular, Sensome, Blockade Medical, LLC., Delaware Corporation, Secant Group, LLC, and Gynesonics. The players in the global neurovascular devices market are aiming towards expansion of their businesses on global level by introducing advanced devices through increased research and development expenditure and strategic mergers and acquisitions are aiding these players in maintaining their dominance in the highly competitive environment of the global neurovascular devices market.

Neurovascular Devices Market Segmentation:

The global market for neurovascular devices has been segmented on the basis of product, therapeutic application, and end-user. Based on product, the neurovascular devices market has been segmented into aneurysm coiling and embolization devices, neurothrombectomy devices, support device, and cerebral balloon angioplasty and stenting systems. The aneurysm coiling and embolization devices segment has been sub-segmented into embolic coils, flow diversion devices, and liquid embolic. The embolic coils sub-segment includes detachable coils and pushable coils. The neurothrombectomy devices segment has been sub-segmented into retrieval systems and suction & aspiration devices. The support device segment has been sub-segmented into microguidewires and microcatheters. The cerebral balloon angioplasty & stenting systems segment has been sub-segmented into embolic protection systems and carotid artery stents. The embolic protection systems segmented is further segmented into balloon occlusion devices and distal filter devices. Based on therapeutic application, the neurovascular devices market has been segmented into hemorrhagic stroke and ischemic strokes. Based on end-users, the neurovascular devices market has been segmented into hospitals & clinics, and ambulatory surgical units.

Neurovascular Devices Market Regional Analysis:

Geographically, the global neurovascular devices market has been segmented into four major regions such as Americas, Europe, Asia Pacific, and the Middle East and Africa. The Americas is dominating the global neurovascular devices market owing to the high prevalence of neurovascular diseases, increased healthcare expenditure as a result of increased disposable income, easy adoption of technologically advanced medical devices and the presence of well-developed healthcare sector in this region. The Europe region commands second largest share in the global neurovascular devices market owing to the rapid technological advancement and increased research and development activities for the introduction of advanced medical devices in the developed healthcare sector of this region. The neurovascular devices market in the Asia Pacific region is expanding at the fastest growth rate owing to the increased awareness regarding the availability of advanced medical devices and increased government funding for the development of healthcare sector in this region. Whereas, poor economic condition and absence of primary healthcare facilities in the underdeveloped countries are restraining the growth of the neurovascular devices market in the Middle East and Africa region.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Regional Trends On Diabetes Monitors Market (2020-2023) | size, Share, Trends and Global Growth

Diabetes Monitors Market - Overview

Diabetes monitors are used for monitoring glucose levels in the human bodies to optimize treatment strategies and provide insight into the effect of diet, medications, and exercise on the patient. As a cure for diabetes is yet to be developed so, managing this condition is the most successful means for its control.

Hence, diabetes monitors are essential and highly effective components for the disease management regime. Owing to the increasing prevalence of diabetes the diabetes monitors market is growing pervasively. Moreover, factors such as the technological advancements, are escalating the market on the global level.

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Acknowledging the exponential upsurges, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global diabetes monitors market will reach USD 17458.1 MN by 2023, registering approximately 8.3% CAGR throughout the forecast period (2017-2023).

Additional factors boosting the market growth include huge research funding in diabetes diagnosis and treatment and rising approval from regulatory bodies. Huge technological advancements and the vast uptake of smart technology drives the growth of the diabetes monitors market.

On the flip side, factors impeding the growth of the global diabetes monitors market include the high cost associated with these monitors and the stringent FDA approvals & reimbursement policies. Nevertheless, factors such as the increasing demand for these diabetes monitors are expected to support market growth.

Global Diabetes Monitors Market – Segments

MRFR has segmented the report into five key dynamics for an easy grasp;

By Sample: Blood, Sweat, and Urine Samples.

By Type: Point Sample Test-based Glucose Monitors, and Continuous Glucose Monitors (CGM) among others.

By Component: Lancet, Glucose Test Strips, and Sensors (Enzyme-based and Enzyme-free Sensors) among others.

By End-users: Diagnostic Clinics, Hospitals, and Home among others.

By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.

Global Diabetes Monitors Market – Geographical Analysis

North America accounts for the leading position in the worldwide diabetes monitors market followed by the European and Asia Pacific regions, respectively. The region is expected to reach USD 6623.4 MN by 2023.

Factors substantiating the market growth include the presence of a vast patient population, the leading players, a well-developed technology, and high healthcare expenditure in the region. Moreover, the factors such as the high prevalence of diabetes and support from the companies, private organization, and government associations to improve diabetes care drives the market in the region.

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Europe holds the next largest share in the global diabetes monitors market, the resurging economy in this region is playing a vital role in the growth of the market by availing the best possible healthcare and increasing the healthcare expenditures. Additionally, government support that encourages manufacturers of diabetes monitors to develop better devices is in turn, fostering the market growth in the region.

The Asia Pacific region accounts for a profitable market for diabetes monitors. The increasing number of diabetic patients and rapidly improving healthcare sector are positively impacting the market growth in the region. The APAC diabetes monitors market is expected to grow at 8.9% CAGR during the period - 2017-2023.

The spreading awareness among individuals towards the advantages and the availability of these devices drives the market growth in the region. Furthermore, the increasing per capita income alongside the rising healthcare concerns are leading to increasing the market size of the diabetes monitors market.

Global Diabetes Monitors Market – Competitive Analysis

The highly competitive, diabetes monitors market appears to be widely expanded and fragmented characterized by the several small and large-scale companies operating the market. Well-established players incorporate strategic initiatives such as acquisition, partnership, collaboration, expansion, and product launch to gain a competitive edge and to maintain their positions in the market.

Key Players:

Key players leading the global diabetes monitors market include Abbott Laboratories, Panasonic, Dexcom, Inc., Medtronic, F. Hoffmann-La Roche Ltd, LifeScan, Inc., and Sanofi among others.

Industry/ Innovation/ Related News:

January 07, 2019 –– InventHelp (USA), an inventor service firm that helps inventors announced the development of a Modified Glucose Monitor - Gluco Display – that provides an easy and effective way to assess blood glucose levels, offering an alternative to traditional glucose monitors. Gluco Display featuring a user-friendly design that is convenient and easy to use could help to reduce pain and discomfort.

January 07, 2019 –– Verily (US), a subsidiary research organization of Alphabet focused on the study of life sciences, and healthcare announced raising of USD 1 BN to support its healthcare to bolster growth in key areas such as investments in new strategic partnerships and potential acquisitions.

Verily also confirmed that it can leverage its partnerships with medical device companies Dexcom, Sanofi, and Sensile Medical to tap into a revenue stream. Verily is planning to develop devices spanning less intrusive blood glucose monitors and "all-in-one" medical-grade insulin pumps.

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Intravenous (IV) Solution Market Grow At Remarkable CAGR 7.69% By 2022

Intravenous (IV) Solution Market Synopsis:

The advancements in the healthcare sector are inducing growth in the markets that offer medical products. Intravenous systems form a crucial part of medical treatments and surgeries. It is expected to witness high demand over the next couple of years. A study, offered by Market Research Future (MRFR), has found out that the global Intravenous (IV) Solution market is expected to register a CAGR of 7.69% across the projection period 2016 to 2022. The assessment also asserts that the market is anticipated to scale a valuation of USD 11,511.2 Mn by the end of 2022.

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IV solutions are extensively used for treatments ranging from fluid deficiency to cancer diagnosis. The rising burden of chronic diseases is likely to propel the expansion of Intravenous (IV) Solution market in the years to come. The demand for IV solution is huge and signifies opportunities for innovations. Many companies are leveraging packaged intravenous fluids with sterile water for administration to patients. It has already garnered a considerable share of the Intravenous (IV) Solution market and is likely to witness an upswing in demand in the foreseeable future.

The healthcare sector is observing a boom and is expected to thrive further over the assessment period. This, in turn, is anticipated to propel the expansion of the Intravenous (IV) Solution market in the upcoming years. In addition, it has been projected that the rising adoption of vitamin C intravenous treatment therapy for the treatment of colorectal cancer will unleash developmental opportunities for the market players.

Intravenous (IV) Solution Market Segmentation:

By type, the global Intravenous (IV) Solution market has been bifurcated into total parenteral solution, peripheral parenteral solution. Among these, the total parenteral solution segment was valued at USD 4,940.0 Mn in 2016 and is expected to hold the dominant share of the market over the assessment period.

Based on nutritional content, the Intravenous (IV) solution market has been segmented into carbohydrates, amino acid solution, vitamins & minerals, parenteral lipid emulsion, and others. The amino acid solution segment, which stood at a valuation of USD 2,385 Mn in 2016, is expected to retain its pole position through the review period.

By end user, the global Intravenous (IV) solution market has been segmented into hospitals & clinics, ambulatory, and home care.

Intravenous (IV) Solution Market Regional Analysis:

The global Intravenous (IV) solution market, by region, has been segmented into North America, Europe, Asia Pacific, and the Middle East & Africa (MEA). North America held the leading position in the global marketplace in 2015. It is forecasted to retain its forefront position over the review period. The rising prevalence of cancer in conjunction with high consumption of IV solution is poised to fuel the growth of the Intravenous (IV) Solution market in the forthcoming years.

Asia Pacific is expected to scale the highest CAGR of 8.34% between 2016 and 2022. The developments in the healthcare sector of the region backed by increasing healthcare expenditure are anticipated to augment the Intravenous (IV) solution market over the next couple of years.

Intravenous (IV) Solution Market Competitive Dashboard:

The key players of the Intravenous (IV) Solution market profiled in this MRFR report are ICU Medical, Inc. (U.S.), Fresenius Kabi AG (Germany), B. Braun Melsungen AG (Germany), Baxter (U.S.), Terumo Medical Corporation (Tokyo), Amanta Healthcare (India), and Grifols S.A. (Spain).

Industry News:

In May 2019, B. Braun Medical, a German medical and pharmaceutical device company, has announced its investment of USD 1 Bn in into new and existing IV fluid manufacturing facilities for alleviating he IV solution shortage.

In May 2019, Phebra, an Australian pharmaceutical firm, has initiated its international business expansion with the inauguration of its subsidiary entity in Canada, namely Phebra Canada.

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Trends: Cystic Fibrosis (CF) Therapeutics Market Size, Share and Global Growth by 2025

The global market consist of players such as AbbVie, Allergan plc, Chiesi Farmaceutici S.p.A., F. Hoffmann-La Roche AG, Gilead Sciences, Inc., Novartis AG, Pharmaxis Ltd, PTC Therapeutics, and Vertex Pharmaceuticals Incorporated are some of the prominent players at the forefront of competition in the global cystic fibrosis market and are profiled in MRFR Analysis report.

Global Cystic Fibrosis Market - Overview:

According to a recent study report published by the Market Research Future analysts, the global cystic fibrosis therapeutics market is growing at a double digit CAGR. The major growth in the cystic fibrosis market was observed with the introduction of Kalydeco drug by Vertex pharmaceutical in 2012. There has been constant development of new drugs and therapies for treating cystic fibrosis. Cystic fibrosis foundation (CFF) has always been in support of the companies involved in the research and development of the cystic fibrosis drugs. The financial support from CFF is influential in the growth of the cystic fibrosis market worldwide.

That being said, there are few hurdles as well in growth of this market. Currently there are approximately 1900 identified CFTR mutations that are responsible for the development of the disease condition. Many are yet to be identified. At present, treatments are available for nearly half the mutations. CF being the rare disease, and due to the limited information available, the extensive research is required. The research and development cost for the cystic fibrosis is very high leading to the massive prices of the end products. High cost of the drugs and treatments is one of the factors that hinder the growth of the cystic fibrosis market.

Global Cystic Fibrosis Market - Competitive Analysis:

The global market for cystic fibrosis is dominated by American pharmaceutical company Vertex Pharmaceuticals Incorporated. With two FDA approved CFTR modulator drugs Kalydeco & Orkambi, Vertex Pharmaceuticals secured a top spot with the market share of 46% in the global cystic fibrosis market. Kalydeco and Orkambi are the drugs that affect the disease at a genetic level where as all the other drugs from different companies deal with the disease symptoms and associated problems. Currently there is no competition for the Kalydeco and Orkambi. Moreover the Vertex is on the verge of developing their next and better drug “triple combo” which is expected to cover 90% of the total identified CFTR mutations. This development is the strong reason for Vertex pharmaceutical to be on top of the table in the near future as well.

Apart from the Vertex, there are some companies which are manufacturing different drugs for the treatment for the cystic fibrosis. These companies have drug products such as Roche- Pulmozyme, Abbvie- Creon, Gilead- Cayston, Novartis- TOBI Podhaler, Allergan- Zenpep, Chiesi- Pertzye, and few others. As these products help patients in managing the cystic fibrosis symptoms and are consumed daily, these companies have fair amount of share in the market. Additionally, there are other companies which such as Pharmaxis, PTC therapeutics, Janssen Pharmaceuticals, Inc which are involved in the development of the treatments for the symptoms of cystic fibrosis.

Global Cystic Fibrosis Market - Regional Analysis;

Cystic fibrosis can occur in both genders as well as in all ethnic groups and races. However the incidences of cystic fibrosis varies across the globe. Cystic fibrosis is more common among the Caucasians. Hence the disease is more prevalent in North America, Europe, and Australia. However cystic fibrosis can also affect Latinos, American Indians, African, and Middle Eastern population.

North America is one of the majorly affected region by the deadly disease cystic fibrosis. The United States is among the countries with highest incidence rates of cystic fibrosis. According to cystic fibrosis foundation, more than 30,000 patients are living with cystic fibrosis in the United States. Nearly, 1000 new cystic fibrosis cases are diagnosed each year. According to CFF’s national patient registry, the median age of the person with cystic fibrosis is currently 33.4 years. The average life expectancy of the CF patients has increased significantly as compared to the patients 30 years back.

European region is also largely affected by cystic fibrosis. According to European Cystic Fibrosis Society (ECFS), considering the 26 major countries in Europe, more than 35,500 people were suffering from cystic fibrosis in 2014. Among the CF patients in Europe, 51.8% were adults with age 18 years or more and 48.2% were less than 18 years old. Countries like United Kingdom, Ireland, Romania, and Bulgaria have the high birth prevalence of CF.

The prevalence of cystic fibrosis is seen to be very low in the Asian region. There is limited information available about CF in Asia, it is likely that the disease is highly underdiagnosed in this region including the Indian subcontinent. It is due to medical community’s lack of knowledge about CF and poor access to the medical and healthcare facilities for cystic fibrosis patients.

The incidence of cystic fibrosis in Middle East varies according to the ethnic background. However, the CF prevalence in Middle East is low as compared to the North American and European region. There are no accurate CF prevalence number for the Northern African countries, but it is expected to be low due to the racial factor and no European genetic mixture.

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2022 Available At Market Research Future

About Market Research Future:

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
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Coronary Pressure Monitors Market Expected to Witness a CAGR of 6.65% over 2023

The coronary pressure monitoring plays a vital role in detecting the health issues of the patients as major fluctuation is the coronary pressure can cause various chronic and acute diseases and can also prove to be fatal in some cases. The coronary pressure monitors are the devices used for the examination of the coronary pressure of the patients with hypertension, diabetes, and other cardiovascular diseases. Market Research Future (MRFR) has recently availed a report asserting that the global coronary pressure monitors market is anticipated to flourish at a noteworthy CAGR of 6.65% during the forecast period of 2017-2023.

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Global Coronary Pressure Monitors Market: Drivers and Restraints

The increasing prevalence of cardiovascular diseases due to changing lifestyles and inclination towards non-invasive medical devices are driving the global coronary pressure monitors market. The increasing incidences of diabetes and rapid rise in obesity among the population of developed and developing countries is propelling the demand for coronary pressure monitors in the market, leading to the expansion of the global coronary pressure monitors market.

The large geriatric population is one of the important drivers propelling the growth of the global coronary pressure monitors market. The increasing investments by the prominent players in the global market for research and development in order to introduce technologically advanced products is fueling the expansion of the global coronary pressure monitors market.

However, the lack of trained professionals, concerns regarding the accuracy of the devices, low shelf life of the products and lack of awareness among the population of the underdeveloped regions are likely to act as major restraints to the expansion of the global coronary pressure monitors market during the forecast period.

Global Coronary Pressure Monitors Market: Segmental Analysis

The global coronary pressure monitors market has been segmented on the basis of devices, technology, and end-users. Based on devices, the coronary pressure monitors market is segmented into sphygmomanometer, BP transducers, automated blood pressure monitor, ambulatory blood pressure monitor, instruments and accessories, and others.

Based on technology, the global coronary pressure monitors market has been segmented into digital, android, wearable and others.

Based on end-users, the coronary pressure monitors market is segmented into hospitals, cardiac care centers, ambulatory centers and home care, academic institutes, and others.

Global Coronary Pressure Monitors Market: Regional Analysis

On the basis of region, the global coronary pressure monitors market has been segmented into four major regions such as Americas, Europe, Asia Pacific (APAC) and the Middle East and Africa. Among these regions, the global market for coronary pressure monitors is dominated by the Americas owing to the well-developed healthcare infrastructure, easy adoption of advanced technology in the healthcare sector, and the increasing prevalence of diabetes and obesity in this region.

The coronary pressure monitors market in the Europe region is majorly driven by the increasing healthcare expenditure, rise in the number of patients with cardiovascular and other diseases, and availability of funds for research and development in healthcare by the government sector in this region, making it a second largest market for coronary pressure monitors in the global market.

The Asia Pacific region is projecting fastest growth in the global coronary pressure monitors market owing to the rapid development in the healthcare sector, increasing public awareness regarding adverse effects of fluctuations in blood pressure and increased incidences of cardiovascular diseases in this region.

The coronary pressure monitors market in the Middle East and Africa region is projecting slow growth due to the poor economic conditions and lack of primary healthcare services in the Africa region. Whereas, the Middle East accounts for the major market share in the coronary pressure monitors market in the Middle East and Africa region due to the well-developed healthcare sector in the Dubai, Qatar, Saudi Arabia, and Kuwait.

Global Coronary Pressure Monitors Market: Competitive Analysis

The prominent players in the global coronary pressure monitors market are aiming towards the expansion of their business through mergers and acquisitions and are increasing the investments in research and development for new product launch in order to sustain the increasing competition in the global coronary pressure monitors market.

In January 2018, Omron Healthcare, one of the leading players in the global coronary pressure monitors market, has launched its new innovation in the form of a wearable oscillometric wrist blood pressure monitor named ‘Omron HeartGuide’ which is the single at-home device that measures blood pressure.

Some of the key players of the global coronary pressure monitors market are Koninklijke Philips N.V. (Europe), General Electric Company (United States), Medtronic (Europe), Omron Corporation (Asia Pacific), A&D Medical Inc. (Asia Pacific), Drägerwerk AG & Co. KGaA (Europe), Rossmax International Ltd. (Asia Pacific), American Diagnostics Corp. (U.S.), and others.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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Artificial Kidney Global Market Quadruples By 2025 At A CAGR of 95.54% Asserts MRFR

Industry Overview

The global artificial kidney market size is likely to touch USD 2,795.01 million at a 95.54% CAGR between 2019-2025, as per the latest Market Research Future (MRFR) report. An artificial kidney or hemodialyzer helps to filter the blood of an individual having kidney damage. It offers the advantage of constant blood filtration. An artificial kidney can help in reducing kidney disease and improve the patient’s quality of life. These devices are lightweight and rely on batteries that are long-lasting, highly permeable membranes, new filtering materials, and advances in miniaturization.

A bioartificial kidney is in great demand for the plentiful benefits that it offers. These surgically implanted devices are small and compact and come with human kidney cells and a filtration unit that is highly permeable. As they have live cells, they can filter the blood theoretically and also at the same time, perform vital functions of the real kidney, such as help to release hormones for controlling blood pressure.

Numerous factors are adding to the global artificial kidney market growth. Such factors, according to the MRFR report, include rising prevalence of kidney disease, minimum/less availability of kidney donors, an increase in kidney transplant surgeries, rising disposable income, and advanced healthcare facilities. Additional factors adding to global artificial kidney market growth include favorable reimbursement policies, increasing investments by key players for technological advances, research, and development activities to develop cost-effective products, and emphasis by the government to develop healthcare infrastructure.

Market Segmentation

The MRFR report provides an inclusive segmental analysis of the global artificial kidney market based on dialysis and type.

By type, the global artificial kidney market is segmented into the implantable artificial kidney and wearable artificial kidney. Of these, the wearable artificial kidney will lead the market over the forecast period for the technical benefits of artificial organs and the increasing prevalence of renal failure.

By dialysis, the global artificial kidney market is segmented into peritoneal dialysis, haemodialysis, and combination. Of these, haemodialysis will have a major share in the market over the forecast period for the increasing number of haemodialysis procedures.

Regional Analysis

By region, the global artificial kidney market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will command the largest share in the market over the forecast period for the rising prevalence of chronic kidney diseases, rising R&D by public and private organizations, and the presence of top market players in the region.

The global artificial kidney market in Europe is predicted to hold the second-largest share over the forecast period for the growing geriatric population coupled with technological advances in medicine and technology.

The global artificial kidney market in the APAC region is predicted to grow at a quick pace over the forecast period for increasing opportunities for industry players for investing in the region, rising investments by government bodies, increasing disposable income, and increasing incidence of renal failure.

The global artificial kidney market in the MEA is likely to have a small share during the forecast period. However, increasing awareness about the benefits of artificial kidney among patients and untapped markets may boost the market growth in the upcoming years.

Key Players

Notable players profiled in the global artificial kidney market report include Asahi Kasei Medical Vo., Ltd, Triomed AB. (Sweden), AWAK Technologies Pte.Ltd.(Singapore), Blood Purification Technologies Inc., and Kawasumi Laboratories, Inc. (Japan).

Industry News

December 2019: Researchers at the US Kidney Research Corporation have developed an artificial kidney that can help to purify blood for creating its own urine. This approach, unlike dialysis, do not need dialysate or purified water, which adds expense and complexity for patients and providers.

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Aromatherapy Market to See 6.13% CAGR Through 2023

Market Scope

Market Research Future (MRFR) in its report on the global aromatherapy analysed that between 2017 and 2023, the market can register a CAGR of 6.18%. The expeditious spreading of awareness about healing through aroma is projected to aid the aromatherapy market to attain a valuation of USD 4.3 billion by 2023.

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Market Boosters and Pitfalls

The surging cases of m is expected to shoot up the growth curve of the global aromatherapy market. The incredible method of healing through aroma using essential oils, is a non-invasive method, hence, is gaining high prominence among people. This is widening the rate of adoption of aromatherapy. As chemically processed medicines and surgeries are crucial to eliminate disorder from the system, so advantageous is aromatherapy as it boosts the immunity of the body. As a result of its long-term health benefits, aromatherapy is being widely accepted. These factors are spotted to reinforce the aromatherapy market growth over the evaluation period. Other market drivers are identifies as, surge in geriatric populace and hike in the healthcare expenditure.

However, the arising confusion in proclamation of different health benefits promised by different brand and intensification of governmental regulations can hinder the expansion of the aromatherapy market.

Segmental Overview

The aromatherapy market study has been segmented on the basis of product, equipment, application, and therapeutic application.

Based on the product, the aromatherapy market has been segmented into carrier oil, essential oil, and blended oil.

Based on the equipment, the aromatherapy market has been segmented into nebulizer diffuser, heat diffuser, and ultrasonic diffuser.

Based on the application, the aromatherapy market has been segmented into inhalation, heat diffuser, aerial diffusion, and tropical

Based on the therapeutic application, the aromatherapy market has been segmented into pain management, relaxation and sleep, skin and hair care, and other remedies.

Regional Outlook

Based in the region, the aromatherapy market has been studied Europe, Asia Pacific, North America, and Middle East & Africa (MEA).

The aromatherapy market in North America is likely to lead globally, over the coming years. The hike in per capita income in the US is predicted to amplify the regional market growth. Although, ambiguity of aromatherapy can retard the regional market growth, emergence of more effective aroma-therapeutic can technique can bolster the market expansion.

As per MRFR, the Europe is forecasted to secure the second largest market share over the review period. The European regional market is expected to demonstrate growth at a rapid pace. Owing to tradition of aromatherapy, France, followed by Italy is reckoned to grasp a massive share of the European aromatherapy market in the near future.

The stupendous growth of the aromatherapy market in North America and Europe is reinforced by the existence of giant market players operating in the market.

Followed by China, India in the Asia Pacific region is to witness an impressive aromatherapy market growth, stretching over the forecast period. This is due to the huge patient pool in the region. Another reason bolstering the regional aromatherapy market in China and India is the established tradition of aromatherapy. APAC bosting of its strong economy that notes a hike in per capita income and surge in healthcare expenditure are other drivers which can boost the regional market expansion.

In the MEA region, regions like UAE and Saudi Arabia are likely to witness an excellent growth of the aromatherapy market. However, the aromatherapy market in the African region is expected to demonstrate a sluggish growth in the coming years. Low healthcare budget and lack of awareness of aromatherapy in Africa can impede its market growth.

Market Key Players

MRFR enlisted significant market players operating in the aromatherapy market. They are; Neal’s Yard Remedies (United Kingdom), Young Living (USA), Air Aroma (USA), Zija International (China), Nu Skin (USA), ), Muji (Japan), Tree of Life (made by Jaroma), and dōTERRA (USA), NOW Foods (USA).

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Market Research Future
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Pune – 411028
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Industry Analysis Reports | Health Care | Medical Devices | Pharmaceutical

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Thursday, 22 October 2020

Updates: Neurovascular Devices Market Trends, Global Analysis and Demand

Regional Trends On Diabetes Monitors Market (2020-2023) | size, Share, Trends and Global Growth

Intravenous (IV) Solution Market Grow At Remarkable CAGR 7.69% By 2022

Trends: Cystic Fibrosis (CF) Therapeutics Market Size, Share and Global Growth by 2025

Coronary Pressure Monitors Market Expected to Witness a CAGR of 6.65% over 2023

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