Lab-on-a-Chip Market trends, Global Analysis and Regional Forecast till 2023

 Market Highlights

The Lab-on-a-Chip Market trends is forecasted to exhibit robust growth registering a CAGR of 10% during the forecast period. The global Lab-on-a-Chip Market size is majorly driven by increasing application of lab on chip devices in the medical field in the diagnosis of various infectious diseases which eases sample handling and yields efficient results in a snap of time. Similarly, the use of lab-on-a-chip devices in research purposes is gaining traction due to easy portability, automated biochemical assays, and huge sample handling provision. Moreover, rising demand for miniature devices, advancing fabrication technology, research on biosensors and biomarkers, and economic feasibility of lab-on-a-chip devices are expected to spur the market growth. However, initial higher purchasing rate, as well as lack of awareness about the use of lab-on-a-chip devices in middle-income countries, are major restraints to the market growth.

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Regional Analysis

Americas is the market leader and has an attractive market for lab on chip devices owing to increasing advances in molecular biology and genetic engineering techniques as well as increasing prevalence of infectious diseases.  Additionally, factors such as increasing number of genomic and proteomics research labs government initiatives and funding for research, development of advanced medical treatment options, and rising demand for portable devices are likely to enhance the growth of Lab-on-a-Chip Market size in the American region. For instance, According to stats presented in the Centers for Disease Control and Prevention report in the year 2017, around 49.9% of the children between the ages of 6 months to 17 years in the U.S. received an influenza vaccine. Due to the alarming rate of chronic as well as infectious diseases, use of lab-on-a-chip devices is accelerated due to its precision in diagnosis and multiple samples handling feature.

Europe is the second largest market and holds a healthy share in the global Lab-on-a-Chip Market size due to major driving factors such as the flourishing medical device market, favorable government initiatives to promote life-science and clinical research, rising average per capita income of individuals. For instance, the European Commission stated that the R&D spending by the pharmaceuticals and biotechnology sectors grew by 8.7% in 2014. This investment in R&D along with the ongoing legislative reforms is expected to have a positive impact on the Lab-on-a-Chip Market size.

The Asia-Pacific is expected to be the fastest growing market owing to the faster adaptation of healthcare technology, increasing patient pool of chronic and infectious diseases, government initiatives of healthcare reform, increasing number of CROs and research projects on environmental issues. Furthermore, key medical device players have set up their regional headquarters and manufacturing plants in Singapore, China, Japan,  and Australia thus, boosting the growth of Lab-on-a-Chip Market size.

The Middle East & Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access and availability of treatment facilities. In the Middle East, the United Arab Emirates is the largest market share owing to the development of the healthcare industry and sound economic status of inhabitants. However, this area has the possibility to grow during the forecast period as due to increasing outbreak of new opportunistic pathogen associated diseases like Ebola, Zika Virus, and Hepatitis B which has attracted key players to set up their R&D centers in this region.

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Industry Trends:

A Scotland based company uFraction8 Ltd. has recently come up with a microfluidic-based filtration system which is an essential part in remodeling the LoCs. Other innovations are also startling and can revolutionize the segment by taking the practice some light years ahead. Researchers from the Brigham Young University have now developed a technology that can 3D print LoC.

Segmentation:

The global LoC device market can be segmented by product, technology, application, and end-user. 

Product-wise, the market includes instruments, reagents & consumables, software, and others. Researchers from Biozentrum of the University of Basel and Max Planck Institute in Dresden have set up a LoC along with automatic analysis software that can study single cell responses. 

Based on application, the market comprises genomics, proteomics, the point of care diagnostics, drug discovery and others. LoC has revamped genomic field of study by taking down the time of detection by a considerable margin. Researchers from Griffith University’s Queensland Micro and Nanotechnology Centre have discovered new ways to screen drugs by using LoC that would reduce the drug testing time considerably.

By end-user, the market consists, hospitals and clinics, biotechnology and pharmaceutical companies, forensic laboratories, diagnostics centers, and academic & research institutes.

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Global Spirometry Market 2020 |Demand by Top Companies | News | Report and Forecast

The global Spirometry Market is growing rapidly. The market growth attributes to the rising occurrences of respiratory diseases such as asthma and COPD worldwide. Besides, increasing numbers of diagnosis procedures conducted for the detection of interstitial pulmonary fibrosis foster the growth of the market. Moreover, the recent COVID 19 outbreak is projected to escalate the growth of the market exponentially.

Coronavirus has presented considerable challenges to global health services, disturbing almost every aspect of medical practice and policy. Subsequently, there occurs a surge in acute caseload with immediate implications for routine diagnostic and surveillance investigations. These implications have increased numbers of lung function testing (LFT), particularly spirometry, which is performed widely and in a variety of settings. As a result, market revenues are increasing significantly.

According to Market Research Future (MRFR), the valuation of global Spirometry market is expected to reach USD 1,106.76 MN by 2023, growing continually at 10.03% CAGR during the assessment period (2018-2023). Increasing exposure to risk factors among the ever-increasing population is a significant growth driver. Similarly, increasing healthcare expenditures and technological advances in respiratory care devices drive a large share of the market.

In addition to the growing exposure to risk factors such as smoking, pollutants such as chemicals, fumes, and dust, the increasing prevalence of respiratory diseases fosters the growth of the market. Conversely, huge costs associated with tests that require different spirometers and reimbursement limitations are the major factors predicted to obstruct the growth of the market.

Nevertheless, growing government initiatives and funding support to spread awareness and to drive the required R&D to improve diagnostics techniques and devices would support the growth of the market throughout the estimated period.

 

Global Spirometry Market – Segmentations

The report is segmented into five dynamics;

By Product            : Hand-held Spirometry, Table-top Spirometry, Desktop (PC) Spirometry, and others.

By Technology     : Volume Measurement Spirometry, Flow Measurement Spirometry (Pneumotachograph System and Mass Flow Meter), Peak Flow Meter (PFM), and others.

By Application     : Treatment Monitoring, Diagnostic (Asthma, COPD, Interstitial Pulmonary Fibrosis, others), and others.

By End-user          : Research & Academic Institutes, Hospitals & Clinics, Home Care, Diagnostic Centers, and others.

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

 

Spirometry Market – Geographical Analysis

North America dominates the global Spirometry market. The largest market share attributes to the growing prevalence of respiratory diseases such as asthma, COPD, interstitial pulmonary fibrosis, and others. Besides, factors such as the large technological advances and rising adoption of Spirometry devices in the region to improve diagnosis processes drive the growth of the market. Also, the availability of state-of-the-art facilities & infrastructure in the region foster market demand.

Additionally, the growing awareness, alongside the presence of notable industry players, boosts the regional market growth. Furthermore, high healthcare expenditures and expanding rebates on diagnostics push the regional market growth. The North American Spirometry market is projected to reach USD 444.99 MN by 2023, growing at 10.25% CAGR during the forecast period.

Europe stands second in the global spirometry market. The market is largely driven by the presence of major medical device companies in Germany and increasing per capita healthcare expenses in the region. Moreover, factors such as the proliferating healthcare industry and developed infrastructure in the region are driving the market growth further. The Europe spirometry market is expected to create a valuation of USD 322.33 MN by 2023, registering a significant CAGR throughout the review period.

The Spirometry market is brisk in the Asia Pacific region. The region demonstrates enormous growth potential. Additionally, factors such as the availability of cost-competitive diagnostic procedures and devices and large unmet clinical needs for respiratory diseases increase the size of the regional market, providing ample opportunities for market growth. The APAC Spirometry market is assessed to reach USD 247.52 MN by 2023, posting 10.64% CAGR during 2018-2023.

 

Spirometry Market – Competitive Analysis

The Spirometry market appears highly competitive due to the presence of several well-established players. To gain a larger competitive share, industry players initiate strategies such as mergers & acquisitions, collaboration, expansion, and technology launch. Significant investments are transpired in the field to bring innovations in the therapy and clinical trials. There is a shift towards the hospital testing department, which dominates a large market share. As a result, players rely on their collaborations and partnerships with hospitals to increase market penetration. Besides, these players employ numerous distributions channels and engage insurance companies to retain their market position. 

Major Players:

Players active in the global Spirometry market include NDD Medical Technologies, Inc. (US), Nihon Kohden Corporation (Germany), Carefusion Corporation (US), Vitalograph (UK), Schiller AG (Switzerland), MGC Diagnostics Corporation (US), Hill-Rom Holdings, Inc. (US), Midmark Corporation (US), COSMED Srl. (Italy), Smiths Medical Inc. (US), and Koninklijke Philips N.V. (Netherlands), among others. 

Industry/ Innovation/ Related News:

June 08, 2020 ---- NHS England announced that thousands of patients with cystic fibrosis (CF), alongside the ones recovering from coronavirus, are being given access to devices and apps to enable remote monitoring of their conditions. CF patients are considered to be at extreme risk from the coronavirus. To enable this group of patients to shield at home as much as possible, patients aged six years, and are given a spirometer to measure their lung capacity, and an app to share this information with their doctor.

NHS England further said that home-based spirometry had been hailed as the most critical intervention by the CF National Network for cystic fibrosis patients. The roll-out of these devices has been accelerated to help patients stay safe at home during the pandemic, while also ensuring the right help fast.

 

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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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Analysis On Retinal Disease Therapeutics Market Demand by Top Companies and Report

The global Retinal Disease Therapeutics Market is expected to rise at a CAGR of 11.2% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global retinal vein occlusion market is mainly driven by the growing awareness about the disease, the growing prevalence of the disease, including the rising prevalence of diabetes, which is a major risk factor for the disease, and the growing efforts being taken by market players to come up with effective remedies for the disease. 

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Retinal vein occlusion is a condition wherein the veins carrying blood away from the retina develop clots or other obstructions. This restricts blood flow and disrupts the cycle of blood flowing through the highly delicate region. This can lead to vision loss, as the region around the corneas and the eyes is highly sensitive to even the smallest disruptions.  Retinal vein occlusion is one of the most common causes of vision loss around the world. This is likely to drive the global retinal vein occlusion market at a sturdy growth rate over the forecast period. The rising prevalence of diabetes is also likely to act as a key driver for the global retinal vein occlusion market, as having diabetes considerably increases the risk of getting a retinal vein occlusion. 

The increasing focus of consumers on ophthalmic care is likely to be a key factor in the global retinal vein occlusion market’s growth over the forecast period. While ophthalmic care has always been important, modern methods and processes are making it even more refined and sophisticated, leading to it becoming ever more important within the healthcare sector. The increasing sophistication of the ophthalmology sector could also act as a key driver for the retinal vein occlusion market, as this could lead to the creation of more advanced, innovative solutions to the disease. 

Competitive Analysis:

Leading players in the global retinal vein occlusion market include Allergan, Bristol-Myers Squibb, Ellex Medical Lasers, IRIDEX Corporation, Quantel Medical Inc., ZEISS, Sanofi Aventis, Alimera Sciences, Icon Biosciences, Genentech Inc., Johnson & Johnson Services Inc., Pfizer Inc., Aerpio Therapeutics Inc., Annexin Pharmaceuticals AB, AstraZeneca, Teva Pharmaceutical, Ranbaxy Pharmaceuticals, Suzuken Co. Ltd., Fovea Pharmaceuticals SA, Valeant Pharmaceuticals, Lumenis, Topcon Medical Systems Inc., Novartis, GlaxoSmithKline plc, Regeneron Pharmaceuticals, and Bayer.

In April 2019, Lantheus Holdings announced a collaboration with Cerevast Medical on a treatment for retinal vein occlusion. The treatment uses Lantheus’ microbubbles along with Cerevast’s ultrasound treatment to maximize the efficacy of the retinal vein occlusion treatment. 

Segmentation:

The global retinal vein occlusion market is segmented on the basis of type, condition, diagnosis, treatment, and end user.

On the basis of type, the retinal vein occlusion market is segmented into branch retinal artery occlusion and central retinal vein occlusion.

On the basis of the condition, the retinal vein occlusion market is segmented into non-ischemic and ischemic. The non-ischemic segment held a majority share of more than 62% in the global retinal vein occlusion market in 2016. 

Based on diagnosis, the market is segmented into optical coherence tomography (OCT), fundoscopic examination, fluorescein angiography, and others. Fundoscopic examination is the leading segment of the global retinal vein occlusion market by diagnosis. 

On the basis of treatment, the retinal vein occlusion market is segmented into antivascular endothelial growth factor, corticosteroid drugs, laser retinal photocoagulation, and others.

On the basis of end use, it is segmented into hospitals and clinics, research & academics centers, and others.

Regional Analysis:

The Americas dominate the global retinal vein occlusion market due to the overall higher level of technology present in the medical establishments in the region, the high disposable income of consumers in the region, and the growing prevalence of retinal vein occlusion in the region. The growing geriatric population in North America and the strong research sector in the region is also a key factor in the growth of the retinal vein occlusion market in the Americas.

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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 products, services, technologies, applications, end users, 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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Arachnoid Cysts Market 2023: Top Companies, CAGR Status, Trends, Size, Growth Factors Details for Business Development

 Market Highlights

Arachnoid cysts are cerebrospinal fluid-filled sacs that are positioned between the brain or spinal cord and the arachnoid membrane. Arachnoid membrane is one of the three membranes that shields the brain and spinal cord. Increasing cases of brain abnormalities at the time of birth, rising prevalence of meningitis & tumors is driving the growth of the market. According to a study published by the National Meningitis Association, in December 2014, about 600 to 1000 people in the US suffer from meningococcal diseases every year. Additionally, the rising cases of rare diseases in children are likely to boost the market growth. On the other hand, lack of knowledge of the disease and risky brain surgeries may hinder the growth of the market during the forecast period.

The global Arachnoid Cysts treatment Market Growth is currently dominated by many market players. The key players in the market are engaged in new product launches and strategic collaborations to strengthen its market position. For instance, in October 2014, Sophysa announced its collaboration with Solvay’s Solviva Biomaterials for using its Evivapolysulfone (PSU) resin to manufacture Sophysa’s implantable brain shunt valves, which are used for permanent drainage system surgery.

Regional Analysis

The market in the Americas is expected to dominate the global arachnoid cysts market during the forecast period owing to the rising cases of meningitis and technological advancements in medical devices to diagnose diseases. According to a study published by the National Meningitis Association, in December 2014, out of all the people that are diagnosed with meningococcal diseases in the US, 10 to 15% people die. The European market is expected to be the second-largest due to rising number of brain & spinal surgeries resulting in complications which can lead to arachnoid cysts and rising healthcare expenditure in the region. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to raising awareness of meningitis & complications arising due to brain injuries and favorable government initiatives for healthcare facilities. The market in the Middle East & Africa is likely to account for the smallest share of the global arachnoid cysts market. The market growth in this region can be attributed to the rising government initiatives for improving the healthcare industry.

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Segmentation

The global arachnoid cysts market has been segmented into type, diagnosis, and treatment.

The market, on the basis of type, has been segmented into, intracranial and spinal.

The market, by diagnosis, has been segmented into, CT scan, MRI scan, prenatal ultrasound, and other tests.

The market, by treatment, has been segmented into, permanent drainage system surgery, fenestration, and endoscopic cyst fenestration. Endoscopic cyst fenestration is expected to have the largest market share owing to its preference among the surgeons and also its high efficiency. Permanent drainage system surgery is anticipated to be the fastest growing market due to its long-term effects and its ability to not bringing the symptoms again.

Key Players

Some of the key players in the global arachnoid cysts market are Spiegelberg GmbH & Co. KG ., Sophysa, Aesculap, Inc., DePuy Synthes, Medtronic, Integra LifeSciences, Christoph Miethke GmbH & Co. KG, Tokibo Co. Ltd., Boston Neurosciences, Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY, Hitachi Medical Systems Europe, Siemens Healthcare Private Limited and FUJIFILM SonoSite, Inc.

Table Of Contents:

 

Chapter 1. Report Prologue

 

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

 

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

 

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

Chapter 5. Market Factor Analysis

5.1 Porter’s Five Forces Analysis

5.1.1 Bargaining Power Of Suppliers

5.1.2 Bargaining Power Of Buyers

5.1.3 Threat Of New Entrants

5.1.4 Threat Of Substitutes

5.1.5 Intensity Of Rivalry

5.2 Value Chain Analysis

5.3 Investment Feasibility Analysis

5.4 Pricing Analysis

 

Chapter 6. Global Arachnoid Cysts Market, By Type

6.1 Introduction

6.2 Intracranial

….

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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 products, services, technologies, applications, end users, 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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Worldwide Analysis on Discography market Forecast till 2023

 Market Highlights

Growing geriatric population resulting in the increasing prevalence of degenerative disc disease, increasing per capita healthcare expenditure and rising investments in research and development processes is estimated to drive the market during the forecast period. However, factors such as high procedural cost, complications in the operations, lack of awareness and low per capita healthcare expenditure in the developing countries are restraining the market growth.

The global Discography Market is expected to grow at an approximate CAGR of 8.20% during the forecast period.

Segmentation

The global discography market is segmented on the basis of type, component, application, indication, and end user. On the basis of the type, the market is segmented into lumbar discography, cervical discography, thoracic discography, and others. On the basis of the component, the market is categorized into contrast agent, imaging and others. The contrast agent segment is sub-segmented into iodine, gadolinium, and others. The imaging segment is sub-segmented into X-ray, computed tomography (CT), magnetic resonance imaging (MRI), and others. On the basis of the application, the market is segmented into herniated discs, scoliosis, burst fracture, and others. On the basis of the indication, the market is segmented into spinal decompression, lumbar surgery, laminectomy, and others. On the basis of end user, the market is segmented into hospitals, retail pharmacies, academic institutes, others.

Regional Analysis

The Americas dominates the global discography market. Factors such as the presence of a well-developed healthcare sector, increasing prevalence of lower back pain, and rising healthcare expenditure provides the favorable backgrounds for the market growth within the region. Followed by Europe is the second large market for discography. Availability of funds for research, well developed healthcare infrastructure, huge patient population and government support for research & development are the major drivers for market growth in Europe. Asia Pacific is the fastest growing region for the market due to the presence of developing economies like India & China and favorable government policies. The Middle East & Africa has the least share in the global discography market due to presence of poor economies and stringent government policies within the region. Majority of the market of the Middle & Africa region is held by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure by the presence of the economies like Saudi Arabia, Kuwait, and Qatar within the region.

Key Players

The key players for the global discography market are Stryker (U.S.), Johnson & Johnson Services, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), Medtronic (U.S.), GFS Chemicals, Inc. (U.S.), Avalon Advanced Materials (Canada), GE Healthcare (U.S.), Koninklijke Philips N.V. (the Netherlands), Canon Inc.  (Japan), Carestream Health. (U.S.), and others.

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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 products, services, technologies, applications, end users, 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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Gastroscopes Market 2020- Global Demand and Regional Analysis | MRFR

 A gastroscope is defined as an optical instrument that is used for inspecting the interior of the stomach. A new report on the global gastroscopes market, published by Market Research Future (MRFR), states that this market can visualize progress at 6.9% CAGR between 2018 and 2023. In terms of money value, the market can be worth USD 2,070.71 Mn by the end of the forecast period.

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The most remarkable market driver for the global gastroscopes market growth is increasing the prevalence of gastric ailments. The gastroscope is always necessary for performing a medical procedure called Gastroscopy that is useful for observing the internal structure or parts of the esophagus, stomach, and small intestine. Other market drivers that fuel the global gastroscopes market growth include rising prevalence of the gastrointestinal disease, demand for technologically advanced gastroscopes providing high-quality images, product expansion, and lastly, strategies such as merger & acquisition.  However, some factors that can hamper the global gastroscopes market growth include high cost of gastroscopes and risk of infection.

Market Segmentation

The gastroscopes market Growth segmentation encompasses application, end-user, and type. MRFR’s take on the market marks various facets of the market in-depth. 

The application-based segmentation of this market covers contraindications, chronic gastritis, gastric ulcer, normal mucosa, and others. The chronic gastritis segment can be sub-segmented into atrophic gastritis and superficial gastritis.

Based on end-user, the market has been segmented into ambulatory surgical centers, diagnostic labs, hospitals & clinics, and others. By type, the market has been segmented into dual-channel gastroscopes, standard gastroscopes, therapeutic gastroscopes, and transnasal gastroscopes.

Regional Segmentation

A geographical outlining of the global gastroscopes market covers the Americas (North America & Latin America), Asia Pacific, Europe, and the Middle East & Africa (MEA).

The Americas is the biggest regional market as North America alone has the potential of becoming a powerful regional market. Due to the advanced medical facilities being available in the USA and the presence of key market players, North America is a larger regional market segment compared to Latin America. The market has been seen growing in North America due to the increasing adoption of new technologies for the detection of gastric cancer, stomach ulcer, and other gastrointestinal diseases. Due to the rising number of gastroscopies performed in the hospitals and diagnostic centers, the demand, as well as the market for gastroscopes, is going up. The rising prevalence of digestive conditions such as dyspepsia and dysphagia is also boosting the market in this region. USA and Canada are generating the maximum revenue in this region.

During the forecast period, Europe can be the second largest regional market due to increasing geriatric population and the prevalence of gastrointestinal disorders like Barrett's esophagus, esophageal cancer, and inflammatory bowel disease. Due to the reasons the same as in The Americas, Western Europe is a bigger market compared to Eastern Europe. The outstanding country-specific markets in this region are France, Germany, Italy, Spain, and the UK. 

During the forecast period, the Asia Pacific region can be the fastest growing regional market due to the increasing prevalence of gastrointestinal diseases like colorectal cancer, Crohn’s disease (CD), gastroesophageal reflux disease, and inflammatory bowel disease (IBD). The rising demand for gastroscopies, rising geriatric population, and availability of high quality as well as affordable treatment options are also boosting the market growth. India and China are the biggest country-specific markets in this region due to the improving healthcare sector. Other country-specific markets of note in this region are Australia, Japan, and South Korea. 

During the forecast period, the MEA region can witness steady growth due to rising demand for diagnostic devices and improving the infrastructure of the healthcare system.  

Key Players

Big players in the global gastroscopes market are Boston Scientific Corporation (USA), Cogentix Medical (USA), Endomed Systems GmbH (Germany), Fujifilm Holdings Corporation (Japan), KARL STORZ GmbH & Co. KG. (Germany), Olympus Corporation (Japan), PENTAX Medical Company (Japan), Perkin Elmer (USA), SofMedica (Romania), and SonoScape Medical Corp. (China).

Latest Industry News

• American company K.P.I. Health Care has given medical equipment worth D26 Mn to Edward Francis Small Teaching Hospital (EFSTH) of Gambia. The equipment included Philips HD-15 with 55-2 PureWave Cardinal sector, Samsung HM-70A Portable 4D Diagnostic Ultrasound;  and Upper GI Endoscope (Gastroscope). 20 AUG 2019

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Global Neurovascular Devices Market -Growth factors, Demand and Research Reprot

 Neurovascular Devices Market Highlights

Neurovascular devices encompass a range of devices which are used for neurovascular management. The rise of neurovascular devices such as brain aneurysms, carotid artery disease, and others are likely to warrant of advanced devices which can prevent the possibility of strokes and other diseases. The global neurovascular devices market report by Market Research Future (MRFR) comprises a comprehensive analysis of the current state and future predictions for the period of 2018 to 2023 (forecast period).

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Neurovascular Devices Market Scope

The global neurosurgery devices market is expected to grow at a CAGR of 8.8% during forecast period. It is driven by the rise of neurovascular diseases and development of minimally invasive procedures. According to the Brain Aneurysm Foundation, cerebral aneurysms are accountable for close to a million deaths annually. Progress in neurovascular management and innovations in microsurgical devices and treatments can drive market growth in a positive direction.

Investments by government organizations for management of neurological conditions can bode well for the market. This is exemplified by the use of funds amounting to USD 6.6 billion by the NHS in the U.K. Clinical trials being conducted for new methods and procedures can encourage market growth. Endovascular treatments are gaining traction with many patients opting it as a method for acute ischemic stroke.

However, high procedural costs and lack of skilled physicians can dampen the market growth prospects.

Neurovascular Devices Market Segmentation

The global neurovascular devices market is segmented by product, therapeutic application, and end-user.

On the basis of the product, the market is segmented into, aneurysm coiling & embolization devices, neurothrombectomy devices, cerebral balloon angioplasty and stenting systems, and support device. Aneurysm coiling & embolization devices are sub-segmented into liquid embolic, embolic coils, and flow diversion devices. Embolic coils, a part of aneurysm coiling & embolization devices segment, are further segmented into detachable coils and pushable coils. Similarly, neurothrombectomy devices segment is sub-segmented into suction and aspiration devices and retrieval systems. The support device segment is sub-segmented into microcatheters and microguidewires. The cerebral balloon angioplasty and stenting systems segment is sub-segmented into carotid artery stents and embolic protection systems. Embolic protection systems are further divided into distal filter devices and balloon occlusion devices.

By therapeutic application, the global neurovascular devices market is categorized into hemorrhagic stroke and ischemic strokes.

By end-users, the market is segmented into hospitals & clinics and ambulatory surgical units.

Neurovascular Devices Market Regional Analysis

The Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa are regions considered for measuring the value and volume of the global neurovascular devices market.

The Americas are touted to dominate the global neurovascular devices market owing to high prevalence of neurovascular diseases. According to a study by the Methodist DeBakey Cardiovascular Journal in 2014, close to 1 million strokes occur annually due to intracranial atherosclerotic disease. The large healthcare expenditure of nations in the region and presence of major players can further regional market growth.

APAC is predicted to exhibit a stellar growth rate during the forecast period owing to the growth of economies of China and India. Demand for minimally invasive surgeries by the geriatric populace can fuel the demand in the global neurovascular devices market.

Neurovascular Devices Market Competitive Outlook

Evasc, OxfordEndovascular, Gynesonics, Delaware Corporation, TERUMO CORPORATION, Merit Medical Systems, Inc., Secant Group, LLC, Rapid Medical, Neuravi, Medikit co., ltd., Stryker, Abbott, MicroPort Scientific Corporation, W. L. Gore & Associates, Inc., Medtronic, Penumbra, Inc., Johnson & Johnson Services, Inc., Blockade Medical, LLC., and Sensome are major players of the global neurovascular devices market. Product launches, acquisitions, and distribution agreements are strategies being implemented by players to sustain their position in the market. In 2020, Arterio Medical submitted the results of the clinical trial of Endura Embolization System in bifurcation systems. The results demonstrated the low relapse of coils and provide immediate cerebral aneurysm occlusion.

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