Biologics Market 2027 Industry Size, Trends, Segments, Top Vendors, Opportunity, Competitive Scenario, Recent Developments and Forecast Research

 Market Analysis 

The global biologics market is anticipated to touch USD 285,520.4 million at a 6.95% CAGR between 2018-2023, states the new Market Research Future (MRFR) report. Biologics, simply put, are made from materials that come from various living organisms such as animals, humans, and microorganisms, namely yeast or bacteria. Usually, biological products are manufactured, utilizing biotechnology methods or other advanced technologies. They are widely used for providing effective treatment for several complex diseases, including Crohn’s disease, psoriasis, and rheumatoid arthritis, which have limited options for treatment. Biologics is transforming the manner in which physicians treat common conditions that have plagued people for years. They have many potential benefits as; theoretically, they can be customized for hitting particular gene targets in the body. 

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Numerous factors are propelling the biologics market. Such factors, as per the new Market Research Future report, include unremitting research & development activities, rising regulatory convergence, increasing government initiatives in the healthcare sector, growing demand as well as higher acceptability of innovative therapies, and the emergence of orphan drugs and personalized medicines. Additional factors propelling the growth of the biologics market include improvement in the healthcare infrastructure, rapid urbanization, increasing awareness about the efficacy and performance of biologics, and increasing prevalence of different chronic diseases. 

On the contrary, stringent government regulations, higher supervision, the rise of biosimilars, pricing pressures coming from regulators, difficulty to manufacture biologics, and side effects such as breathing problems, chest pain, change in blood pressure, and gastrointestinal complications are factors that may hamper the biologics market growth during the forecast period. 

Market Segmentation 

 

The Market Research Future report offers a complete segmental analysis of the biologics market based on manufacturing, disease indication, and product. 

Based on product, the global biologics market is segmented into gene therapy, growth factors, vaccines, interleukins, monoclonal antibody, and others. Of these, the monoclonal antibody segment will have the largest share in the market during the forecast period for its increasing use for enhancing the body’s immunity system. 

Based on disease indication, the biologics market is segmented into diabetes, cancer, psoriasis/psoriatic arthritis, rheumatoid arthritis, and others. Of these, the cancer segment dominated the market in 2018, but rheumatoid arthritis is predicted to dominate the biologics market over the forecast period for the rapid approval of different drugs by the regulatory agencies. 

Based on manufacturing, the biologics market is segmented into outsourced and in-house. Of these, the outsourced segment will have the maximum share in the market during the forecast period for the presence of several pharmaceutical companies, especially in developing countries. 

Regional Analysis

By region, the biologics market report covers the latest trends and growth opportunities across the Americas, the Asia Pacific, Europe, and the Middle East and Africa. Of these, the Americas will dominate the market during the forecast period. Various factors are propelling the growth of the biologics market in the region, such as investments in new facilities for producing drugs for clinical trials, strong economic growth of Canada and the US, and rapid adoption of manufacturing technologies. It is predicted to touch USD 129,652.7 million at a 4.31% CAGR.

The biologics market in the APAC region will grow at the fastest pace during the forecast period. Various factors are propelling the growth of the biologics market in the region, such as the changing healthcare sector, increasing geriatric populace, and the presence of different contract manufacturing organizations (CMOs) in the region. India is a major contributor in this region for its massive strides in biologics manufacturing.

Key Players 

Notable players profiled in the biologics market report include GlaxoSmithKline Plc (UK), Eli Lilly and Company (US), Bayer AG (Germany), Sanofi (France), F. Hoffman-La Roche AG (Switzerland), Novartis AG (Switzerland), Amgen (US), Pfizer Inc. (US), AstraZeneca (UK), and AbbVie, Inc. (US). Key players have incorporated specific strategies to increase their market share, such as acquisitions, expansions, and new product launches. 

Industry News

December 2019: Researchers at the Shenzhen Institutes of Advanced Technology, China, and Duke University, US, have created a platform that will make the biologics production process simpler. 

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Animal Genetics Market: Current Trends, Business Opportunities, Challenges & Global Industry Analysis by 2027

 According to the Market Research Future (MRFR) analysis, the global animal genetics market size is estimated to register a CAGR of 8.4% from 2018 to 2023 (forecast period). The report offers an in-depth overview of the industry, including production, suppliers, quality, consumption, growth rate, profit margins, services, imports and exports, and technology advancements.

Market Analysis 

The global animal genetics market is projected to grow exponentially at an alluring 8.4% CAGR over the predicted years (2018-2022). Animal genetics lays emphasis on the different facets of animal heredity which is the traits that passes from generation to generation. This field encompasses topics including animal breeding, genetic testing and genetic variability. Animal genetics utilizes twin techniques of general genetics, ontogenetic, mathematical-statistical, cytological, population and hybrid. On the commercial level, it is utilized for services such as genetic disease testing, DNA typing and genetic trait testing. 

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There are many factors that is driving the growth of the animal genetics market. Some of these factors as per the Market Research Future (MRFR) report include increasing consumption of protein that is animal-derived, rapid urbanization the world over, growing population, increasing use of advanced genetic technologies and genetic services for quality breeds and larger-scale production, rising focus to identify superior breeds, high investments in research and development activities, expansions undertaken by the leading players, rapid increase in animal diseases, increasing trend to possess companion animals, and increasing prevalence of various zoonotic diseases which boosted the demand for genetic testing. On the contrary, factors such as scarcity ok skilled experts in veterinary research, lack of technicians to conduct advanced genetic services, soaring price of animal testing, strict regulatory framework and negative effects to use genetic engineering on various animals may hinder the growth of animal genetics market.

Market Segmentation 

Market Research Future report offers an all-inclusive segmental analysis of the animal genetics market on the basis of animal genetic products, services and end-user. 

Based on animal genetic products, it is segmented into live animals and genetic materials. The genetic materials are further segmented into embryo and semen and the live animals are further segmented into canine, porcine, bovine, poultry and others. Of these, bovine semen is likely to have the maximum share in the market over the predicted years. 

Based on services, the animal genetics market is segmented into gene trait tests, DNA typing, genetic disease tests and others. Of these, genetic disease tests will lead the market over the predicted years. 

Based on end-user, it is segmented into research centers and institutes, diagnostic centers, veterinary hospitals and clinics and others. 

Regional Analysis 

Based on region, the animal genetics market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America will sway the market over the predicted years due to growing use of animal genetics in research and rising acquisition by market players. Europe grabs the second largest position in the animal genetics market owing to high consciousness concerning the wellbeing of animals and rising investment on the region’s veterinary services. In the APAC region, the animal genetics market is expected to grow at the highest CAGR owing to increasing veterinary care services at the community level as well as the veterinary hospital. On the other hand, the animal genetics market in the Middle East and Africa will have a minimal share owing to scarcity of trained healthcare professionals and low per capita income. There however has been a boost in the demand for consistency and accuracy by the government and the end-users here that is increasing the use of the animal genetic technology. 

Key Players 

Key players profiled in the animal genetics market include vetGen (US), Alta Genetics (US), Animal Genetics (US), Envigo (US) Hendrix Genetics BV (The Netherland), Zoetis (US), Topigs Norsvin (Netherlands), CRV Holding B.V. (The Netherland), Groupe Grimaud (France), EW Group (Germany), URUS (US), Genus (UK), Neogen Corporation (US), and others.

Feb 2019- Wisdom Health, a popular dog genetic testing company has introduced an affordable DNA kit that works as human DNA tests. This test will not read the complete genome but will check definite number of markers. The company will compare the genetic information of a dog in their database with many other dogs. Here algorithm will be involved. 

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Veterinary POC Diagnostic Market: Business Opportunities, Competition & Key Companies, Current Trends and Challenges

 Global Veterinary POC Diagnostic Market: By Product (Consumable, Instruments), By Technology (Clinical Biochemistry, Immunodiagnostics, Hematology, Urinalysis, Molecular Diagnostics), By Application (Clinical pathology, Bacteriology, Virology, Parasitology, Orthopedics & traumatology, Gynecology, Oncology, Cardiology, Neurology), By Animal Type (Companion Animals, Livestock Animals) By End User (Veterinary Hospitals and Clinics, Home Care Settings) and Region (Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast to 2027

Market Highlights

According to MRFR analysis, the Global Veterinary POC Diagnostic Market is expected to register a CAGR of 8.9% during the forecast period of 2020 to 2027 and reach USD 2,894 Million by 2027.

Changes in veterinary healthcare system like Point-of-Care (POC), it enables rapid results in non-laboratory settings. There is traction in the veterinary point-of-care diagnostics market due to the adoption of advanced and innovative diagnostic testing methods.

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The growth of the global veterinary POC diagnostic market can be attributed to the growing need for rescue medication, demand for POC diagnostic in the field of veterinary as the diseases in animals is increasing and affecting the human being as well.

Furthermore, growing companion animal population, growing prevalence of animal zoonotic diseases, rising demand for pet insurance & growing animal health expenditure, an increasing number of veterinary practitioners, increase in income levels in developed economies are expected to fuel the market growth during the forecast period.

However, the increasing pet care costs and high cost of veterinary imaging instruments are expected to restrain the growth of the global veterinary POC diagnostic market.

Several market players such as IDEXX Laboratories, Heska Corporation, and Fujifilm among others currently dominate the global veterinary POC diagnostic market. The key players are involved in awareness campaigns, product approvals, mergers, and strategic collaborations to strengthen their market positions, for instance, In January 2020, IDEXX launched the Vcheck Feline NT-proBNP test kit, In January 2020, Heska Corporation acquired SCIL Animal Care Company (Germany) to complement the company's veterinary diagnostics portfolio and expand the geographic portfolio across North America and greater Europe and reach over to 25 countries across these regions., In July 2019, Fujifilm Corporation established FUJIFILM VET Systems Co., Ltd in Japan to supply its veterinary products segment to veterinary clinical practices in the country. This expansion would enhance the company's veterinary medicine business in Japan. In January 2018, IDEXX launched the IDEXX Catalyst SDMA Test.

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 in 2019, owing to the rising animal zoonotic diseases in the region. The veterinary POC diagnostic 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 veterinary POC diagnostic 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 veterinary POC diagnostic market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing zoonotic diseases, the market in Asia-Pacific is expected to be the fastest-growing. The veterinary POC diagnostic market in the Middle East & Africa has been divided into the Middle East and Africa.

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Segmentation

Global Veterinary POC Diagnostic Market has been segmented based on the Product, Technology, Application, Animal Type, and End User.

Based on the type, the global veterinary POC diagnostic market has been segmented into Consumable, Instruments. The consumable segment is expected to hold the largest market share owing to the increasing demand for the rapid detection of diseases, the growing prevalence of animal zoonotic diseases.

On the basis of technology, the market has been segmented into Clinical Biochemistry, Immunodiagnostics, Hematology, Urinalysis, and Molecular Diagnostics. Clinical Biochemistry is expected to hold a major market share due to the higher preference for various advanced clinical diagnostic products by veterinarians and pet owners are contributing to the large share of this segment.

Based on the application, the market has been segmented into Clinical Pathology, Bacteriology, Virology, Parasitology, Orthopedics & traumatology, Gynecology, Oncology, Cardiology, and Neurology. Clinical pathology is expected to grow at the fastest CAGR.
The market based on end user has been segmented into hospitals & clinics, home care, and others. The hospitals and clinics segment is expected to hold the largest market share owing to the larger patient footfall in hospitals.

Based on the animal type, the market has been segmented into Companion animals, Livestock Animals. Clinical pathology is expected to grow at the fastest CAGR.

Key Players

Thermo Fisher Scientific, Inc. (US), Idexx Laboratories, Inc. (US), Zoetis, Inc. (US), Virbac (France), Heska Corporation (US), Eurolyser Diagnostica GmbH (Austria), Woodley Equipment Company Ltd. (UK), Randox Laboratories, Ltd. (UK), AniPoC, Ltd. (UK), Carestream Health, Inc. (US), Neurologica Corporation (US), Fujifilm Sonosite, Inc. (Japan), Diagnostic Imaging Systems, Inc. (US), Esaote spa (Italy), Mindray Medical International Limited (A Part of Excelsior Union Limited) (China), GE Healthcare (US), Minxray, Inc. (US), QR s.r.l. (Italy), Sedecal (Spain), Examion GmbH (Germany)

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Cranial Fixation and Stabilization Market 2021 Developing Trade with SWOT & Forecast Outline 2027

 Cranial Fixation and Stabilization Market Brief Overview

Craniotomy procedures are used to open up a bone flap in the skull to expose the brain. Cranial fixation systems are designed to ensure the stability of flaps during such procedures. They can reduce the surgical time and ensure the strength of flaps. Cranial stabilization systems are required during neurosurgeries and driven by high prevalence of neurological disorders. The global cranial fixation and stabilization market report by Market Research Future (MRFR) contains historical data, current trends, and future opportunities for the forecast period (2019-2025).

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Market Scope

The global cranial fixation and stabilization market is predicted to touch a value of USD 2.29 billion by 2025. It can exhibit a CAGR of 8.90% during the forecast period owing to all surgical procedures involving the head. Rise of minimally invasive surgeries and breakthroughs in instruments demanded for surgeries can bode well for the market. According to the WHO, close to 6.8 million die of neurological conditions annually.

Development of new surgical techniques to assist patients with neurological disorders and the largescale spending on healthcare by nations can be beneficial to the global cranial fixation and stabilization market. Establishment of standards and practices as well as the need for head and neck stabilization during surgeries can evoke the need for cranial fixation & stabilization systems.

However, strict regulations on cranial fixation and stabilization equipment and differing regulations on imports and exports of equipment can hamper the market growth.

Cranial Fixation and Stabilization Market Segmentation

The global cranial fixation and stabilization market is segmented by category, product, type, and end-user.

Category-wise, the market is segmented into cranial stabilization systems and cranial fixation systems. Cranial fixation systems are used for fastening bones after fractures, fastening the skin to bones for trauma victims, and ensuring success in post-surgery. Large number of trauma cases which require the use of these equipment can drive global market growth. On the other hand, cranial stabilization systems can stabilize the head during invasive procedures. 

Products in the market include plates, flat tube clamps, skull clamps, meshes, screws, horseshoe headrests, and accessories. Meshes are used in reconstructive surgeries to fix the face. While skull clamps are used in holding the head firmly in place for surgery. Lastly, horseshoe headrests can support and stabilize the head so head movement is still possible.

Types of cranial stabilization and fixation systems include resorbable and non-resorbable. Resorbable systems can account for a smaller share of the global cranial fixation and stabilization market due to being expensive in nature. While, the non-resorbable segment can generate revenue due to being economical in cost and being attached to the head in developing economies.

End-users in the global cranial fixation and stabilization market are ambulatory surgical centers, hospitals, and others. Hospitals are likely to have the lead among the end-user segment till the end of the forecast period due to high volume of neurosurgeries being performed at these centers. While ambulatory surgical centers can also command a significant share of the market due to a large volume of trauma cases being treated at these facilities.

Cranial Fixation and Stabilization Market Regional Analysis

Europe, Americas, Asia Pacific (APAC), and the Middle East & Africa (MEA) are regions considered in the global cranial fixation and stabilization market.

The Americas had led the global market, with the maximum share of the region belonging to North America. North America records a large number of trauma cases and brain-related injuries and can fuel the demand for cranial stabilization and fixation systems. On the flip side, APAC can register the highest growth rate during the forecast period due to large number of road accidents and investments by private players for improving the existing healthcare infrastructure.

Competition Outlook

Ostomed, Braun Melsungen AG, Zimmer Biomet, Medtronic, Changzhou Huida, Evonos, Stryker, Johnson & Johnson, DePuy Synthes, Pro Med Instruments, Integra LifeSciences Corporation, Medicon, Micromar, NEOS Surgery, KLS Martin Group, and Jeil Medical are prominent players in the global cranial fixation and stabilization market.

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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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Elastography Imaging Market Details: SWOT Analysis, New Project Investment Feasibility

 The global elastography imaging market is growing pervasively, witnessing the rising cancer cases worldwide. Elastography imaging technology has become increasingly popular in the diagnostic data during surgery. The technique is extensively used during the radiology, general imaging, cardiology, cancer, obstetrics, gynecology, urology, vascular, and orthopedic & musculoskeletal applications. 

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Market Research Future (MRFR), in its recent elastography imaging market insights, asserts that the global elastography imaging market valuation had reached USD 2,538.2 MN in 2018, which is estimated to appreciate further at 11.1% CAGR during the forecast period (2019 to 2025). The growing prevalence of life-threatening diseases and increasing demand for minimally invasive procedures to diagnose and treat different chronic diseases, alongside the elastography imaging market trends, act as major driving forces for the market growth. 

Besides, the increasing launches of innovative systems with easy to use technologies are helping the market to grow freely. Growing awareness about the benefits of elastography imaging technique in cancer detection, impact the growth of the market positively. Conversely, high costs of elastography imaging systems and the requirement of high initial investments are the major factors projected to impede market growth during the forecast period. Nevertheless, changes in regulatory policies and rising demand for effective therapies to treat complicated disorders would support the market growth throughout the analyzed period.

 

Global Elastography Imaging Market   - Segmentations

The report has been segmented into four main dynamics.

By Modality : Ultrasound, Magnetic Resonance Elastography, and others. 

By Application : Radiology/General Imaging, Cardiology, Obstetrics/Gynecology, Urology, Vascular, Orthopedic & Musculoskeletal Applications, and others. 

By End User : Hospitals & Ambulatory Surgical Centers, Diagnostic Centers, Research Laboratories, and others. 

By Regions : Americas, Europe, APAC, Middle East & Africa, and Rest-of-the-World.

 

Global Elastography Imaging Market - Geographical Analysis

North America dominates the global elastography imaging market. The largest market share attributes to the rising numbers of cancer patients and the high adoption of new technology in the region.  Besides, the presence of major market players and the increasing usages of elastography imaging techniques for the detection of cancer are spurring market growth. Also, the high healthcare expenses and technological advances in elastography imaging drive the regional market growth. 

Additional factors such as the increasing R&D expenses, the increase in the insurance coverage, and improving reimbursement scenario in the US & Canada fuel the growth of the regional market. The North American elastography imaging market is expected to retain its dominance over the global market throughout the assessment period.

Europe holds the second-largest share in the global elastography imaging market. The market is majorly driven by the considerable growth in the occurrences of cancer and the increasing support & funding from regulatory authorities to control the rising prevalence of cancer. Moreover, factors such as the presence of well-established healthcare systems and the rising per capita healthcare spending, drive the regional market growth. Also, augmenting demand for innovative diagnosis techniques has been increasing the elastography imaging market size.

The elastography imaging market in the Asia Pacific region is growing briskly. The market is predominantly led by raising awareness about the advantages of elastography imaging systems in the detection & treatment of cancer. Additionally, the increasing number of patients with chronic diseases and government initiatives for healthcare reforms push the market growth excellently. Furthermore, factors such as the increasing healthcare expenses, resurging economy in the region, and spreading awareness about elastography techniques, influence the growth of the regional market. 

 

Global Elastography Imaging Market   - Competitive Landscape

Highly competitive, the elastography imaging market appears fragmented, with many well-established players forming a competitive landscape. To gain a larger competitive share, market players adopt strategic approaches such as mergers & acquisitions, product & technology launch, expansion, and collaboration. Players make substantial investments to drive the R&D required for innovation and product launch. They also invest in increasing their global footprint and acquiring promising companies from emerging markets. 

 Major Players:

Players leading the global elastography imaging market include Canon Medical Systems Corporation, Esaote, Fujifilm Holdings Corporation, General Electric Company, Hitachi Ltd., Koninklijke Philips N.V., Mindray Medical International Ltd., Resoundant Inc., Samsung Electronics (Samsung Medison), Siemens AG, and Supersonic Imagine, among others. 

Industry/Innovation/Related News:

April 30, 2020 ---- American Association for Cancer Research published a study a recent Cancer Research in which the diagnostic accuracy of quantitative micro-elastography for margin assessment in breast-conserving surgery has been evaluated. The study reveals that imaging plus elastography enhances surgical margin assessment in breast cancer. Findings from the study - Quantitative microelastography demonstrated increased sensitivity, specificity, and accuracy in detecting positive surgical margins in combination with optical coherence tomography versus optical coherence tomography alone in women who received breast-conserving surgery.

The ideal scenario to perform the imaging in the surgical cavity is immediately after the specimen has been removed. This would give surgeons a direct indication of whether any tumor had been missed. The next goal of the research team is to develop a handheld quantitative microelastography probe to enable intraoperative imaging.

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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.

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Veterinary CBD Market: Trends, Size, Share, Growth, Demand and Regional Outlook by 2027

 Cannabidiol (CBD) is an active ingredient of cannabis, a derivative of the marijuana plant. The legal status granted to the cultivation of CBD across some countries has sparked its demand. Adoption of pets and the need for pain alleviation medicines can induce the demand of cannabidiol. The global veterinary CBD market report by Market Research Future (MRFR) outlines various factors and drawbacks to be faced by the players for the period between 2019 and 2025. The comprehensive report contains tables, graphs, and figures to support the predictive data and trends.

The global veterinary CBD market is likely to touch USD 202.6 billion at a 4.9% CAGR between 2019- 2025, according to the recent Market Research Future (MRFR) report. Veterinary CBD treatment is provided to pets to treat diseases such as anxiety, seizures, and cancer. Hemp-derived & marijuana-derived are the two sources of veterinary CBD. 

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Various factors are adding to the global Pet CBD market growth. These factors, as per the new MRFR report, include low implementation costs, rising willingness to invest in pet healthcare, an increase in household pets, a relatively new & untapped market, and does not need to be tailor-made. Additional factors adding market growth include the tremendous potential of CBD for managing seizures, anxiety, and pet pain. Additional factors adding market growth include CBD works miraculously to maintain pets’ mental health and also reduce fatigue, tiredness, and balance mood swings, treat osteoarthritis, fewer side effects, and demand for organic healthcare products by pet owners. 

On the contrary, differing regulations and laws related to the manufacturing/processing and purchase of pet CBD products raw materials, issues related to export and import, legal restrictions and allowances that differ, and unclear regulatory environment are factors that may limit the global veterinary CBD market growth over the forecast period. 

Market Segmentation 

The MRFR report provides an inclusive segmental analysis of the global veterinary CBD market based on source, product, and distribution channel. 

By source, the veterinary CBD market is segmented into hemp-derived & marijuana-derived. Of these, the hemp-derived source will lead the market over the forecast period for relaxation rules to grow hemp and legalization in most countries. 

By product, the veterinary CBD market is segmented into personal care, food grade, and therapeutic grade. The food grade segment is further segmented into chews, treats, and others. The therapeutic grade segment is further segmented into pet CBD oils and pet supplements. Of these, the therapeutic grade segment will dominate the market over the forecast period for the increasing concern of consumers for their pet’s mental wellbeing and increased support for such products by veterinarians. 

By distribution channel, the veterinary CBD market is segmented into veterinary clinics, retail pharmacies, e-commerce websites, and others. Of these, e-commerce websites will have a major share in the market over the forecast period. 

Regional Analysis

Based on the region, the global veterinary CBD market covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), & the Middle East & Africa (MEA). Of these, the Americas will spearhead the market over the forecast period for the large-scale infrastructure support for new industries and legislative allowance for marijuana. 

The global veterinary CBD market in Europe is predicted to have the second-largest share over the forecast period for a well-established tradition for research as well as implementation. 

The global veterinary CBD market in the APAC region is predicted to grow at a quick pace over the forecast period for having the highest numbers of livestock and pets and increasing use of medicinal marijuana. Besides, the Asia Pacific is the largest producer of hemp. 

The global veterinary CBD market in the MEA is predicted to have the smallest share over the forecast period for an underdeveloped pet healthcare industry, fewer household pets, and lower per capita income. 

Key Players 

Eminent players profiled in the global veterinary CBD market report include Joy Organics (US), Green Roads of Florida (US), HempMy Pet (US), Pet Releaf (US), Honest Paws (US), Wet Noses (US), Canna-Pet (US), Fomo Bones (US), and HolistaPet (US). Industry players have encompassed strategies such as strategic alliances, mergers, acquisitions, joint ventures, product launch, and research and development to create a niche in the market.  

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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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Compression Therapy Market 2019 | Trends, Growth Demand, Opportunities & Forecast To 2027

Compression Therapy Market Research Report: By Technique (Static and Dynamic), Product (Compression Garments, Compression Pump, Compression Braces), Application (Varicose Vein, Deep Vein Thrombosis, Lymphedema, Leg Ulcer) – Global Forecast Till 2027

Market Highlights

The Global compression therapy market size is expected to grow at an approximate CAGR of 5.2% during forecast period, 2018–2023.

Increasing participation of market players is the key factor driving the compression therapy market. For instance, in 2015, SIGVARIS launched diabetic compression socks to provide maximum therapeutic relief for diabetic patients.

Various other factors such as increasing incidence of sports injuries and accidents, technological advancements, presence of a large target patient population and rising patient awareness regarding the benefits of compression therapy are also expected to propel the growth of the market.

However, low patient compliance for compression garments, adoption of alternative therapies for specific target indications and lack of universally accepted standards for compression products can hinder the market growth over the forecast period.

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Compression Therapy Market Outlook

The global compression therapy market is expected to expand in size by exhibiting a CAGR of 5.2% during the forecast period. Rising prevalence of vein disorders such as varicose veins is likely to drive the market growth. Increasing cases of arthritis can work in favor of the market demand. According to the Centers for Disease Control & Prevention (CDC), close to 54.4 million adults were reportedly afflicted with some form of arthritis from 2013-2015.

Various iterations of compression garments ranging from bandages to devices which can alleviate the pain levels of patients as well as the extension of the process to other diseases can augur well for the global compression therapy market. Furthermore, patient awareness of the therapy, increasing cases of sport injuries and accidents, and a large patient pool are other factors which can spur the market growth.

But availability of alternative therapies, paucity of standards of compression products, and low patient compliance may impede the market growth.

Compression Therapy Market Segmentation Analysis

The global compression therapy market is segmented based on technique, product, application and region.

The global market for compression therapy, by technique is segmented into static compression therapy and dynamic compression therapy.

The market, by product, is segmented into compression garments, compression pumps and compression braces. The compression garments segment is further classified as compression stockings, compression bandages & wraps and others.

Based on application, the market is segmented into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment and others.

Compression Therapy Market Regional Analysis

The Middle East & Africa (MEA), Americas, Europe, and Asia Pacific (APAC) are major regions in the global Market.

The Americas is expected to dominate the global market due to the presence of various vein disorders and the large susceptible geriatric population. Presence of reputed market players launching new products, reimbursement plans, and growing healthcare awareness in economies of Canada and the U.S. are other drivers which can be lucrative for the compression therapy market in the region.

Europe will assume the second position in the global market due to various cases of leg ulcers and heavy investments in research and development in devices to provide relief to patients with orthopedic pain. According to the Burns & Trauma Journal report of 2018, venous ulcers are a common problem with the condition prevalent to nearly 3% of the regional population above 65 years of age.

The APAC region is predicted to showcase the fastest growth due to the expansion plans of the regional healthcare sector, large healthcare budget, and penetration of international market players. For instance, Australia spent close to USD 181 billion on health alone for the period between 2016-2017. Initiatives to lower the price of products to make it affordable to customers and the rising expendable income levels of patients can play a pivotal role for the global compression therapy market.

Compression Therapy Market Competitive Outlook

Tactile Medical, Paul Hartmann AG, DJO Global Inc., Sigvaris, 3M, Sanyleg S.R.L., Cardinal Health, Inc., Getinge AB, BSN Medical, Medi GmbH & Co. Kg, Medtronic PLC, Convatec Inc., Smith & Nephew PLC., Bio Compression Systems, Inc., Juzo, and others are reputed companies currently operating in the global compression therapy market.

Industry Update

The Wave Company has developed an electronic muscle stimulation (EMS) suit which can reduce fatigue levels using kinesiology taping. The suit known as WaveWear will be available on Kickstarter for commoditization. Known uses of the suit include pain reduction, posture correction, and injury prevention.

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Compression Therapy Market Analysis By Top Leaders 2020- Global Industry Growth By Size, Share, Revenue And Value Chain, Emerging Technologies Future Trends and Growth Opportunities Up To 2023