Medical Second Opinion Market Demand Forecast, Business Revenue, Statistics, Growth, Investment Opportunities, Challenges, Sales, Developments and Impact of COVID-19

Market Highlights

According to MRFR analysis, Global Medical Second Opinion Market is expected to register a CAGR of 15.8% during the forecast period of 2020 to 2027 and reach USD 9751.58 Million by 2027.

A second opinion is the practice of a patient seeking an alternate evaluation of his/her diagnosis and course of treatment by another, or a few other specialist doctors to confirm the diagnosis and validate their treatment.

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The growth of medical second opinion can be contributed to the growing need for guidance, high demand for the second opinion due to outbreak of COVID 19, increasing need to improve diagnosis and treatment planning, and increased instances of medical errors. According to the Centers for Disease Control and Prevention, 2017 US report, the number of deaths due to diabetes reached 83,564. To overcome this, improvement in diagnosis and treatment is needed which is expected to drive the medical second opinion market globally.

Furthermore, the involvement of financial, health, and legal costs, reduction in costs and ease of interaction of medical services, and health insurance are also expected to fuel the market growth during the forecast period.

However, the lack of complete knowledge and changes in economic strategies in developing countries is expected to hamper the growth of the global medical second opinion. In India, there is a lack of knowledge in the healthcare industry due to the shortage of doctors, clinics, hospitals, nurses leading to reduce in second opinion services for patients. 

Several market players such as SecondOpinionExpert, Inc., Cleveland Clinic MyConsult, and 2nd MD, among others currently dominate the global medical second opinion market.

 

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas region held the largest market, owing to the increasing need to improve diagnosis in the region. The medical second opinion market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European second opinion market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, Italy, Spain, the UK, and the rest of Western Europe. The second opinion market in Asia-Pacific has been segmented into Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific. Due to the increasing chronic diseases, the market in Asia-Pacific is expected to be the fastest-growing. The medical second opinion market in the Middle East & Africa has been divided into the Middle East and Africa. In 2018, UAE’s Healthcare sector partnered with leading US institutions aiming to facilitate US companies in the phase of the UAE healthcare development by providing information about the Emirati healthcare sector and the potential UAE partners for developing the healthcare sector.

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Segmentation

The global medical second opinion market has been segmented based on services, providers, applications, and sources of services.

Based on the services, the global medical second opinion has been segmented into medical condition management, post-acute care nursing, and medical peer review services. The medical condition management is expected to hold the largest market share for a different medical second opinion.

On the basis of providers, the market has been segmented into hospital physicians/specialties, online physicians portal, medical second opinion companies, and health insurance companies. The medical second opinion companies are expected to hold a major market share.

Based on application, the market has been segmented into cancer, diabetes, cardiac disorders, neurological disorders, respiratory disorders, and ocular disorders. The medical second opinion is more applicable in the case of cancer because of a substantial increase in the number of cases across different countries.

The market based on source of service has been segmented into in-house and outsourced.

Key Players

 

Some of the key players in the global medical second opinion market are SecondOpinionExpert, Inc., (California), DoctorSpring (California), 2nd MD (Houston), Cleveland Clinic MyConsult, Partners Healthcare, HCA Hospitals (US), Teladoc Health, Inc., (US), Amradnet (US), Johns Hopkins Medicine, XMRI.COM.

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Medical Imaging Market- Trends, Report, Global Analysis to forecast

Market Highlights

 

Global Medical Imaging Market is estimated to be valued at USD 45,719.65 Million by 2025 and is expected to register a CAGR of 6.52% during the forecast period.

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Imaging systems play a major role in the primary screening of any disease. Medical imaging systems help in the diagnosis,treatment selection, and monitoring of the progress of the treatment. The increasing strategic joint ventures between prominent players, rise in research and development activities focusing on advancements in imaging devices, and increasing awareness about disease diagnostics are driving the global medical imaging market. However, the shortage of trained professionals, the inability of healthcare organizations to purchase expensive imaging systems, and the high cost of high-end imaging devices are expected to hamper the growth of this market.

 

Regional Analysis

Geographically, the global medical imaging market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. As per MRFR analysis, the Americas was the largest market for medical imaging in 2018 and is expected to remain dominant during the review period. The existence of medical imaging system companies and the rising prevalence of chronic diseases, funding by organizations for research, along with increased adoption of diagnostic tests by the patients are boosting the market growth in the American region. The National Cancer Institute (NCI) funded USD 5,636.4 million in 2017 from USD 5,206.2 million in 2016 for various research areas in cancer.

 

Europe would follow the Americas in terms of value during the forecast period owing to the presence of favorable government initiatives and laws, and target population base, rising prevalence of lifestyle-associated conditions, and increasing adoption rate of imaging devices. For instance, in 2018, Europe accounted for 23.4% of the global cancer cases and 20.3% of the cancer deaths, though it holds only 9.0% of the global population.

Asia-Pacific is expected to exhibit the fastest market growth from 2019 to 2025 owing to the increasing per capita health spending, growing older population base, developing the healthcare sector in China, India, and Australia, a defined regulatory framework enabling accelerated product approvals, and diagnostic process at comparatively lower prices.

The Middle East and Africa are expected to represent a modest market growth from 2019 to 2025. The Middle East would hold a substantial market share over the assessment period due to developing healthcare infrastructure, booming medical tourism, the budding medical device industry.

 

Segment Analysis

The Global Medical Imaging Market has been segmented on the basis of modality, application, and end-user. The market, based on modality, has been divided into x-ray systems, magnetic resonance imaging (MRI), ultrasound systems, computed tomography (CT), and nuclear imaging. The global medical imaging market, based on application, has been categorized into cardiology, oncology, neurology, and others. The global medical imaging market, by end-user, has been classified as hospitals and clinics, diagnostic centers, academic institutes, and research organizations.

 

 

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Key Players

Market Research Future (MRFR) recognizes Koninklijke Philips N.V. (Netherlands), Siemens AG (Germany), Analogic Corporation (US), Canon Medical Systems Corporation (Japan), Carestream Health (US), CMR Naviscan (US), General Electric Company (US), Esaote S.p.A (Italy), FUJIFILM Holdings Corporation (Japan), Hitachi Ltd (Japan), Hologic, Inc. (US), Medtronic PLC (Ireland), Samsung (South Korea), Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China), Shimadzu Corporation (Japan), Koninklijke Philips N.V. as the key players in the global medical imaging market.

Key Findings of the Study

The global medical imaging market is projected to reach over USD 45,719.65 million by 2025 at a 6.52% CAGR during the review period of 2019 to 2025.

 

The US held a market share of 86.9% in 2018. Initiatives of major players are likely to drive the growth of this segment at a steady rate. For instance, in July 2019, FUJIFILM Holdings Corporation (Japan) opened a new headquarter office in Lexington, Massachusetts, US.

 

Based on modality, the x-ray systems segment accounted for the largest market share of 31.1% in 2018.

 

Based on the application, the cardiology segment accounted for the largest market share of 35.1% in 2018.

 

On the basis of end-user, the hospitals and clinics segment accounted for the largest market share of 47.9% in 2018.

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Antibiotic Resistance Market- Trends, Global Demand, Report and Forecast

 

Market Highlights

According to MRFR analysis, Antibiotic Resistance Market is expected to register a CAGR of 5.8% during the forecast period of 2019 to 2025 and was valued at USD 8,120 Million in 2018.

Antimicrobial resistance occurs when microorganisms such as bacteria, viruses, fungi, and parasites change when they are exposed to antimicrobial drugs. Antibiotic drugs include antibiotics, antifungals, antivirals, antimalarials, and anthelmintic.

The growth of global antibiotic resistance market is driven by various factors such as -      Rising antibiotic drug resistance infections, rise in the incidence of chronic and infectious disease, increase in clinical developments of antibiotic resistance, and rise in global initiatives to control drug-resistance

Several market players currently dominate the global antibiotic resistance market. The key players are involved in product launches and strategic collaborations to strengthen their market positions.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the rising growth in the pharmaceutical sector. The antibiotic resistance market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European antibiotic resistance market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The antibiotic resistance market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Increasing healthcare expenditure has boosted the growth of the antibiotic resistance market; the market in Asia-Pacific is expected to be the fastest-growing. The antibiotic resistance market in the Middle East & Africa has been divided into the Middle East and Africa.

Segmentation

The Global Antibiotic Resistance Market has been Segmented Based on Drug Class, Disease, Pathogen, and End User.

The market, based on drug class, has been divided into cephalosporins, Combination therapies, tetracyclines, lipoglycopeptides, oxazolidinones, and others. The combination therapies segment is likely to be the largest growth during the review period due to the increased usage of these therapies for gram-negative infections. Additionally, it has minimal treatment options available with the increasing demand for antibiotic resistance, thus driving the growth of this segment.

 The global antibiotic resistance market has been bifurcated, based on disease, into complicated urinary tract infections, bloodstream infections, complicated intra-abdominal infections, clostridium difficile infections, acute bacterial and skin structure infections, hospital-acquired bacterial pneumonia/ventilator, community-acquired bacterial pneumonia, and others. The complicated urinary tract infections segment is expected to hold the majority share of the market as urinary tract infections (UTIs) are one of the most common types of infections. Additionally, there were around 1,045 patients affected by UTI.

 

The global antibiotic resistance market has been segmented based on pathogen into staphylococcus aureus, streptococcus pneumoniae, acinetobacter, enterococcus, Hemophilus influenzae, pseudomonas aeruginosa, clostridium difficile, K. pneumoniae, campylobacter, and others. K. pneumoniae is expected to be the fastest segment owing to the increasing K. pneumoniae. Moreover, there were around 212,500 infection cases per year and about 70 deaths every year which would eventually drive the growth of the antibiotic market in this segment.

 

The end user segment of the antibiotic resistance market includes hospitals & clinics, research organizations, and others. The hospitals & clinics segment is expected to hold the largest share of the market as the majority of treatments and procedures are carried out in hospitals, which ultimately increases the usage of antibiotic resistance drugs in the antibiotic resistance market. As a result, this drives the growth of the antibiotic resistance market.

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Key Players

Some of the Key Players in the Global Antibiotic Resistance Market are Achaogen, Inc. (US), MELINTA THERAPEUTICS, INC. (US), Nabriva Therapeutics plc (Ireland), PARATEK therapeutics (US), Seres Therapeutics (US), Theravance Biopharma (UK), Tetraphase Pharmaceuticals (US), Basilea Pharmaceutica Ltd. (Switzerland), Entasis Therapeutics (US), NEMESIS BIOSCIENCE LTD (UK), Procarta Biosystems (England), and Allecra Therapeutics (US)

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Antiemetics Market Global Trends, Demand, Report and Forecast

 

Market Highlights

According to MRFR analysis, Antiemetics Market is expected to register a CAGR of 6.6% during the forecast period of 2019 to 2025 and account for USD 6.7 Billion in 2025.

The Global Antiemetics Market is expected to grow at a steady pace. There are numerous antiemetics agents available for the treatment of nausea and vomiting, including; dopamine antagonists, anticholinergics, antihistamines, serotonin antagonists, and others. The key players manufacturing these products include GSK, Merck, and Pfizer Inc. As these players generate their maximum revenue from the Americas for the market, the region accounted for significant share across the globe.

The market is expected to grow at a steady growth rate. The significant factors influencing the growth of the market include increasing investment in the pharmaceutical industry, increasing the number of postoperative procedures, pregnancy-induced nausea, and acute gastroenteritis, further influencing the growth of the market. Moreover, the rising demand for novel therapeutics and the increasing prevalence of postoperative nausea and vomiting (PONV) is responsible for positive market growth. 

Key Players

Some of the key players in the Global Antiemetics Market are GSK (UK), Merck (US), Sanofi-Aventis (France), Pfizer Inc. (US), Mylan (US), Eli Lilly and Company (US), Johnson & Johnson (US), Baxter International (US), Dr. Reddy's Laboratories Inc. (India) and others.

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Regional Analysis

On a regional basis, the Americas are anticipated to dominate the global antiemetics market owing to the growing clinical research & development budgets by both public and private organizations in the pharmaceutical industry, increasing demand for novel therapeutics and the abundant presence of significant manufacturer in the region. Additionally, rising postoperative procedures is expected to influence the growth of the market. According to a study, it is found that PONV occurs in nearly 30% of the general surgical population and up to 70% to 80% of high-risk surgical patients. Europe is expected to account for the second-largest market in the global antiemetics market owing to well-developed research infrastructure, increasing healthcare awareness in the region, and high expenditure in pharmaceutical research.

Segmentation

The Global Antiemetics Market has been segmented into agents, drug type, application, and distribution channel.

By agents, the market has been segmented into dopamine antagonists, anticholinergics, antihistamines, serotonin antagonists, cannabinoids, and others. Furthermore, dopamine antagonists is segmented into phenothiazines (chlorpromazine, prochlorperazine), butyrophenones (droperidol, domperidone ), and benzamides. Moreover, serotonin antagonists is further divided into ondansetron, granisetron. The others segment includes dexamethasone and propofol. Dopamine accounted for the largest market share majorly due to FDA approval for the maximum number of application

By drug type, the market is segmented into prescribed and OTC. Prescribed drugs accounted for the large share by drugs type due to the high cost of the drugs when compared to OTC and also are most prescribed by the professionals.

Based on application, the market is segmented into chemotherapy, motion sickness, stomach flu, pregnancy, postoperative surgery, and others. Postoperative surgery accounted for the largest market share on the basis of attributing to an increasing number of surgery procedures and mandatory postoperative procedures for the same.

The global antiemetics market, by distribution channel, has been a retail pharmacy, hospital pharmacy, online. On the basis of distribution channel, retail pharmacies accounted for the largest share due to the presence of a large number of retail pharmacies across the globe.

Moreover, rising healthcare expenditure is boosting the market in this region. Asia-Pacific is expected to be the fastest-growing region due to the growing interest of major key players in entering emerging markets, increasing development in the pharmaceutical industry in this region. Moreover, increasing the adoption of chemotherapy for the treatment of cancer expected to influence the growth of the market. The Middle East & Africa is expected to account for the least share of the global antiemetics market. Moreover, the significant market share of the region is expected to be held by the Middle East region owing to the increasing investment by major manufacturers and changing healthcare reforms.

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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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Hormonal Implants Market Trends, Global Demand, Size, share and Forecast

 Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Hormonal Implants Market.

 Market Highlights

The Global Hormonal Implants Market is estimated to have a positive growth at the CAGR of ~5.0% during the forecast period of 2019–2025.

 A study observed that no pregnancy was observed in a group of certain women using hormonal implants for five years. Safety from unwanted pregnancies and suitable government programmers are the major factors driving the market growth.

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However, cases of side-effects related to hormonal contraceptives, pricing variations, and limited availability of the product are restraining the growth of the market during the assessment period is hindering the growth of the global hormonal implants market in the forecast period.

Global, as well as local players, are present in the hormonal implants market. A majority of the market is currently held by global players like Allergan. In May 2016, ALLERGAN took an initiative to help the US military servicewomen to access LILETTA under the Federal Supply Schedule (FSS) price of USD 55.83 to educate these servicewomen about the importance of contraception.

Regional Analysis

The global hormonal implants market, by region, is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The hormonal implants market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada. The European hormonal implants market has been sub-divided into Western Europe and Eastern Europe. Western Europe has further been segmented as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The hormonal implants market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The hormonal implants market in the Middle East & Africa has been divided into the Middle East and Africa.

Key Players

Some of the key players in the global hormonal implants market are Shanghai Dahua Pharmaceuticals Co., Merck & Co., Inc., Bayer HealthCare, Ltd and Allergan.

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Segmental Analysis

The global hormonal implants market has been segmented based hormone, type, distribution sector, end user, and region.

 

The market, based on hormone, has been bifurcated into levonorgestrel and etonogestrel. The levonorgestrel segment is anticipated to hold the largest share in the market, market due to the wider preferability and longer durability compared to other contraceptives for the use of hormonal implants.

 

The market, based on the distribution sector, has been segmented into the public sector and private sector. The public sector market is expected to hold the largest share in the market, due to increasing adoption rates in public healthcare facilities under various government regulations.

 

The market, by end-user, has been divided into hospitals & clinics, academic & research institutes. The hospitals & clinics segment is expected to lead the market, due to the major commercialization is done through them.

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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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Veterinary Imaging Market- Trends and Global Demand, Report and Forecast

 

Market Research Future published a Half-Cooked Research Report on “Global Veterinary Imaging Market Research Report - Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Veterinary Imaging Market  - Overview

The global veterinary imaging market has been evaluated as steadily growing market and it is expected that the market will continue to grow similarly in the near future. Veterinary deals with diagnosis and treatment of diseases in animals. Veterinary imaging devices are useful in diagnosis and treatment of diseases in animals. These devices also gives clear understanding of disease or injury that helps veterinarian for treatment of animal. Increasing awareness about animal healthcare and improvement of animal life are key factors for the growth of the market. Disease pattern in animals are continuously changing and becoming more challenging for veterinarians to diagnose these diseases. Veterinary imaging devices gives them in accurate diagnosis and further treatment. Increasing pet adoption is another major factor for the growth of the market. Increasing number of veterinarians, veterinary clinics and growing veterinary healthcare infrastructure are driving the growth for the market. Cattle are very important part of farming that have economic importance because they provides many products like milk, meat and leather. Farmers are becoming more aware about the health of their cattle which is good sign for the growth of the market. About 75% of veterinarians are working in private hospitals or pet clinics and these hospitals or clinics are spending money in advancement of technology to provide better facilities. Veterinary imaging devices manufacturers are spending money to develop innovative and usable product for the market. However there are some factors are inhibiting the growth of the market such as high cost of devices that small clinics cannot afford, lack of knowledge about new technology or products, availability of products, access to veterinary healthcare facilities, lack of skilled veterinary professionals etc.

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Top Companies:

Atlantis Worldwide (US), Canon Inc. (Japan), Diagnostic Imaging Systems, Inc. (US), Fujifilm Holdings Corporation (Japan), GE Healthcare (US), Hitachi, Ltd (Japan), Medical Imaging / IMCO, Inc. (US), Sectra (Sweden), Siemens AG (Germany), Toshiba Medical Systems Corporation (Japan) are some of the prominent players at the forefront of competition in the Global Veterinary Imaging Market and are profiled in MRFR Analysis. 

Global Veterinary Imaging Market  - Competitive Analysis

Characterized by the presence of several well-established and small players, the global market of veterinary imaging appears to be highly competitive and fragmented. Major market players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing.  The Market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers. Therefore, key players ensure that their portfolio includes products both for treating sick animals and for preventing disease occurrence.

December, 2015 - Fujifilm and Anicom Holdings, Inc. entered into partnership and established joint venture for developing and providing cutting-edge veterinary technologies and services with focus on regenerative medicine. According to company reports, it had developed advanced veterinary medicine by combining Fujifilm's advanced production engineering and quality control technology nurtured in its photographic film business as well as diagnostic imaging technology, blood's chemical composition analysis technology and regenerative medical technology, with Anicom's veterinary hospital network, electronic medical record system and extensive animal treatment data. Moreover, the company had conducted science-based clinical research such as regenerative medicine including cell therapies.

Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

Global Veterinary Imaging Market - Regional Analysis

Depending on geographic region, veterinary imaging market is segmented into four key regions: Americas, Europe, Asia-Pacific, and Middle East & Africa. Considering the global scenario of the market, North America holds be the largest market for veterinary imaging due to increasing awareness about animal healthcare and increasing investment in healthcare domain. Moreover the European market is also growing and second largest market for Veterinary Imaging. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the Veterinary Imaging during the forecasted period. Whereas, The Middle East & Africa have the least market share. Additionally, factors such as lack of awareness, low healthcare expenditures will restrain the market during the corresponding period.

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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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Theranostics Market Demand, Growth And Forecast MRFR

 Key Playersof the prominent players in the global theranostics market are Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Beckman Coulter, Inc., Focus Diagnostics, Abbott Laboratories, Illumina, Inc., Agilent Technologies, Inc., QIAGEN, Myriad Genetics, Inc., Foundation Medicine, Inc., and AmeriPath, Inc.

 

Market Highlights

The global theranostics market size accounted for USD 7,968.4 million in 2018 and is projected to grow at a CAGR of 11.4% over the forecast period. Theranostics is a new field of medicine which combines therapeutics, nanoscience, and diagnostics based on specific targeted diagnostic tests. Theranostics is also called as theragnostics or companion diagnostics (CDx), or pharmacodiagnostics or personalized medical care, or personalized therapy, or personalized medicine technology.

 

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Theranostics is a proposed diagnostic methodology for personalizing therapeutic intervention and the integration of imaging and therapy in a single system, enabling simultaneous therapy and follow-up of the treatment. Some of the market growth factors are increasing development of novel companion diagnostic tests, emerging use of theranostics, increasing partnerships and collaborations by major market players to develop innovative companion diagnostics, and rising burden of chronic diseases. In contrast, lack of proper defined regulations for theranostics tests and inadequate reimbursement facilities in most of the countries are anticipated to impede the market growth during the forecast period.

Molecular theranostics is a major field which includes small biochemical moieties and biomacromolecules. Theranostics is important for personalized as well as precision medicine that provides therapeutic outcome so that a physician can make a decision pertaining to the course of treatment for the patient.

 

Segmentation

The global theranostics market has been segmented into the therapeutic area, technology, end user, and region.

By therapeutic area, the market has been segmented into oncology, cardiovascular diseases, neurological disorders, immunological disorders, and others. The oncology segment is further categorized into breast cancer, colorectal cancer, lung cancer, cervical cancer, and others.

On the basis of technology, the market has been divided into polymerase chain reaction (PCR), immunohistochemistry (IHC), in situ hybridization (ISH), sequencing, and others. The sequencing segment is likely to register comparatively higher CAGR over the forecast period due to the increasing number of proof-of-concept case studies and research related to sequencing, particularly next-generation sequencing (NGS) technology.

Based on end user, the market has been classified into hospitals and clinics, diagnostic laboratories, and others.

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Regional Analysis

The global theranostics market has been categorized on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. On a regional basis, the Americas would command the market throughout the forecast period attributed to the domicile of major market participants, increasing research and development activities, and growing adoption of theranostics in the US and Canada. For instance, in June 2018, Genome Canada launched a national initiative for clinical implementation of precision health that would ultimately impact the market growth in the near future.

Europe would follow Americas in terms of value over the forecast period due to flourishing pharmaceutical and medical device companies, increasing partnerships and collaborations between life science companies and medical diagnostics companies, and growing personalized medicine sector. Personalized medicine (PM) is an emerging approach to prevention, diagnosis, treatment, and care which is assisting in addressing the challenge of the aging of the population, rising prevalence of chronic diseases, and increasing healthcare costs.

The market in Asia-Pacific would register the fastest market growth over next seven years owing to booming medical tourism, swiftly developing healthcare infrastructure, and growing awareness in the developing countries, namely, India, China, Singapore, and Australia.

The Middle East & Africa has the least share of the global theranostics market. In addition, the major market share of the region would be held by the Middle Eastern region due to developing healthcare system and medical infrastructure in the Arab countries.

 

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