Summary: Stents Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $16,666 million by 2022. In 2015, Coronary stents was the largest segment in terms of value, whereas peripheral stents was the dominating market segment in terms of volume.
The coronary stents market has a huge potential with the presence of many players developing innovative technologies. Increasing advancements in the field of interventional cardiology coupled with the progress of minimally invasive techniques have significantly extended the potential of therapeutic applications of stents. Coronary stents such as bare metal stents, drug-eluting stents, and bioabsorbable stents can be used to treat coronary artery diseases (CAD).
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Bioabsorbable stent is expected to be the fastest growing segment, registering a CAGR of 37.2% during the forecast period. The major factors fueling the market growth are increasing focus on the development of bioabsorbable stents and their high adoption rate as they can be easily absorbed in the body and do not cause restenosis/thrombosis.
Metallic biomaterial is the dominant segment due to its cost effectiveness and the efficacy of vascular healing as compared to other stents. Natural biomaterials such as animal or plant origin materials have demonstrated several advantages over synthetic biomaterials. These are biocompatible, nontoxic, may also carry specific protein binding sites, and other biochemical signals that may assist in tissue healing or integration. The global natural biomaterial stents market is expected to grow at a CAGR of 10.5% from 2016 to 2022.
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In the current scenario, the U.S. and Europe have the largest customer base for stent implants. However, these regions constitute only 17% share of the world population. Whereas, the Asia-Pacific region constitute around 56.4% of the human population in 2015 (Source: United Nations Department of Economic & Social Affairs); with huge geriatric population; therefore, this region exhibits huge market potential. According to the WHO, the geriatric population in the developing countries is projected to increase by 250% between 2010 and 2050, as compared to 71% in the developed countries. This is expected to increase the patient base in these regions. The Asia-Pacific region accounted for majority of the share in the stents market in 2015, and is expected to maintain this trend throughout the forecast period. This is attributed to the increasing incidence of heart failures, changing lifestyle, improved reimbursement policies, and high adoption of advanced stents in the region.
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Key Points from Table of Contents:
Chapter: 7 COMPANY PROFILES
7.1 Abbott Laboratories
7.1.1 Company overview
7.1.2 Operating business segments
7.1.3 Business performance
7.1.4 Key strategic moves & developments
7.1.5 SWOT analysis
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Catheter ablation is highly preferred device due to its minimal invasive nature and is designated as gold standard‐modality for treating atrial fibrillation. The growing adoption of this device by the physicians or electrophysiologists has catered double digit growth in the study period.
Electrophysiology Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $8,271 million by 2022, registering a CAGR of 13.4% during the period 2016-2022. Electrophysiology (EP) ablation catheters is expected to dominate the global electrophysiology market throughout the forecast period. North America accounted more than one-third share of the global electrophysiology market in 2015.
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The market is driven by growth in incidence of atrial fibrillation (one of the most common heart rhythm disorder or cardiac arrhythmia), growth in baby boomer generation with high-risk of targeted diseases, and increase in adoption of EP catheter ablation. Rise in focus of the key players toward innovative EP technologies (such as 3D mapping systems, bidirectional duodecapolar diagnostic catheter, remote steering systems, and irrigated-tip RF catheters), and growth in EP labs further drives the market growth. However, stringent government regulations, high cost of the treatment of complex arrhythmias, preference to pharmaceutical interventions (drugs) over, and dearth of skilled & experienced electrophysiologists restrain the market growth.
EP ablation catheters (such as cryoablation EP catheters, radiofrequency ablation catheters, microwave ablation systems, laser ablation systems and navigational advanced mapping accessories) was a leading segment and accounted for more than 35.0% of total share in 2015. Ablation catheters is preferred due to its diversified use in the treatment of cardiac arrhythmias with lower risk and high success rate. Cryoablation EP catheters market is expected to grow at the fastest CAGR of 15.1%, owing to benefits such as less thrombogenic effects compared to RF ablation catheters, high success rate, and faster recovery. Advanced EP diagnostics catheters market is expected to grow at a CAGR of 14.2%, due to technological advancements in the segment.
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Atrial fibrillation (AF) indication segment is expected to maintain its lead in the overall electrophysiology market due to its high incidence rate, especially in the developed economies. Although, the AF cases are prevalent in the developing economies, the low awareness, less initiative for preventive care, and unmet medical needs at economical cost has restricted the market growth. Conversely, the growing demand of electrophysiology devices in the developed economies such as North America and Europe has further boosted the market growth due to the high incidence rate of AF, rapidly increasing ageing population, and growing number of EP labs. Furthermore, atrioventricular nodal reentry tachycardia (AVNRT) indication is anticipated to exhibit the highest growth, with a CAGR of 14.8%. The aforementioned is due to the most common regular supraventricular arrhythmia in humans. Nevertheless, despite the smaller target market, it is expected that the cryoablation procedures performed for the treatment of AVNRT will increase at a moderate rate attributable to the physicians adoption of the product and an increase in the number of AVNRT procedures worldwide.
Key Findings of the Electrophysiology Market:
– In 2015, EP ablation catheter was the leading product type, and is projected to grow at a high CAGR of 14.4%.
– Cryoablation EP catheters is expected to grow at a remarkable CAGR of 15.1%.
– Irrigated-tip RF ablation catheters is projected to grow at a high CAGR of 14.6%.
– U.S. was the highest market shareholder with over 80% in the North American region in 2015.
– Japan is the major shareholder, accounting for around half of the Asia-Pacific electrophysiology market.
– North America is expected to dominate the EP market followed Europe, during the analysis period.
North America accounted for the major share in 2015, and is expected to maintain this trend throughout the forecast period. This is due to the rise in prevalence of cardiac arrhythmias coupled with increase in geriatric population, high adoption rate of technologically advanced electrophysiology devices, and high awareness regarding the benefits of electrophysiology devices. In addition, presence of highly sophisticated healthcare infrastructure, rising interventional procedures for the treatment of cardiac arrhythmias especially atrial fibrillation, and favorable reimbursement scenario has propelled the market growth. However, Asia-Pacific region is anticipated to grow rapidly attributed to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of cardiac arrhythmias in this region and quest for improved quality of life in emerging countries.
Some of the key companies profiled in the report are St. Jude Medical, Inc., Biosense Webster, Inc. (A Johnson & Johnson Company), Boston Scientific Corporation, Medtronic, Inc., GE Healthcare (Division of General Electric Co.), Siemens AG, Medtronic plc, Philips Healthcare (A Division of Koninklijke Philips N.V.), Biotronik SE & Co.KG, Microport Scientific Corporation, and Abbott Laboratories.
Extremity Reconstruction Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $3,041 million by 2022, registering a CAGR of 7.5% during the period 2016-2022. Shoulder reconstruction segment, which accounted for more than 70% in 2015, is expected to dominate the global market throughout the forecast period. North America held the leading position in 2015, and is expected to maintain this trend throughout.
The key drivers of the market include increase in incidence of joint disorders such as osteoarthritis & rheumatoid arthritis coupled with growth in geriatric population and global rise in the prevalence of diabetes & obesity. In addition, increase in awareness among patients about the benefits of small joint reconstruction implants and improvement of technology such as development of stemless shoulder implants, reverse shoulder implants, and ankle reconstruction implants that assist in regaining ankle mobility are expected to propel the market growth. However, unfavorable reimbursement scenario and complications associated with extremity reconstruction surgeries hamper the market growth.
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“Shoulder reconstruction segment dominated the upper extremity market owing to technological advancements in shoulder implants such as reverse shoulder implants and stem less shoulder implants, increasing number of patients opting for shoulder reconstruction surgery, and its positive clinical outcomes.‐ ‐In the shoulder reconstruction segment, stemless shoulder implants are expected to grow at a fastest rate, owing to their associated benefits such as minimal pain, less blood loss, and faster recovery” states Deepa Tatkare, Research Analyst, Healthcare Research at AMR.
Upper extremity reconstruction implants (such as elbow, radius, hand & wrist, and shoulder) was the leading market segment in 2015, due to increase in the incidences of small joint disorders such as arthritis and fracture. She further added. Ankle replacement segment is expected to grow at a CAGR of 17.4%, owing to technological advancements in this segment. Technological innovations in ankle replacement implants have improved ankle motion in contrast to ankle fusion that restricts movement. Natural biomaterials segment is expected to grow rapidly due to their biocompatible and biodegradable properties.
Key Findings of the extremity reconstruction market Study:
• The shoulder replacement segment generated the highest revenue in 2015, and is projected to grow at a CAGR of 7.3%.
• Stemless shoulder implants segment is projected to grow rapidly registering a CAGR of 20.0%.
• Metallic biomaterial dominated the world extremity reconstruction devices market.
• Total ankle replacement segment is expected grow at a CAGR of 17.4%.
• In 2015, the U.S. led in the global extremity reconstruction market, accounting for more than 67% share in the overall market.
• Germany accounted for about one-third share of the European extremity reconstruction market in 2015.
• Indian extremity reconstruction devices market is expected to grow at a CAGR of 13.7%.
North America accounted for a major share in 2015, and is expected to maintain this trend throughout the forecast period. This is attributed to rise in prevalence of joint disorders coupled with increase in geriatric population, high awareness regarding the benefits of extremity reconstruction devices, favorable reimbursement rates, presence of innovative technologies, and quest for better quality of life in this region. However, the Asia-Pacific region is expected to grow rapidly owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of small joint disorders, increase in awareness about the benefits of extremity reconstruction surgeries, and rise in acceptance of advanced technologies.
Some of the key players profiled in the report include DePuy Synthes (a wholly owned subsidiary of Johnson & Johnson), Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc., Integra Lifesciences Holdings Corporation, Wright Medical Group N.V., Acumed, Inc., Arthrex, Inc., CONMED Corporation, and Skeletal Dynamics LLC.
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In 2015, the stand-alone laboratories and hospital end user segments together held a dominant share, of around 74% of the IVD market. This is attributed to the frequent and primary use of instruments & reagents for diagnosis of infectious and immunological diseases. Besides this, the immune system diseases and infectious diseases indication segments collectively accounted for around half of the market share in 2015, owing to increasing incidences of infectious and sexually transmitted diseases such as HIV, hepatitis, and malaria.
Global In Vitro Diagnostics Market (IVD Market) report released by Allied Market Research, projects that the IVD market is estimated to grow at a CAGR of 4.9% during 2016-2022. The reagent segment accounted for around three-fifths of the market share in 2015 and is expected to maintain the dominance during the forecast period. North America and Europe collectively accounted for about two-thirds of the market share in 2015.
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Growing adoption of advanced diagnostic techniques such as digital pathology, which uses digital instruments for diagnosis, portable point-of-care testing devices for HIV & pregnancy, use of non-invasive procedures over conventional techniques, increasing incidences of cancer, cardiac, urological, and infectious diseases and rising count of technological breakthroughs such as automated instruments and instruments with high throughput are major factors boosting the market growth. Increasing disposable income and progressing healthcare spending capacity would further boost the market growth during the forecast period. However, a lack of structured regulatory frameworks & reimbursement policies can hinder the market growth.
The immunodiagnostic and clinical chemistry technique segments jointly accounted for more than half of market share in 2015 and are expected to maintain this trend throughout the forecast period. High demands for immunochemistry-based tests amongst physicians, rise in chronic diseases, low-cost tests in the market, and widespread healthcare awareness are the driving factors for the growth of immunodiagnostic and clinical chemistry technique market. Blood testing is projected to be the fastest growing segment, owing to its frequent application and inherent convenience of using blood samples.
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Key Findings of the In Vitro Diagnostics Market:
– The IVD instruments market is projected to witness the highest CAGR of 6.3% during the forecast period.
– The infectious diseases indication segment is expected to maintain its foothold in the IVD market.
– Cancer is projected to be the fastest growing indication segment during the forecast period.
– In 2015, the infectious diseases and immune system disorders indication segment collectively accounted for about half of the IVD indication market.
– ELISA was the largest revenue generating segment in Immunodiagnostics market and is expected to maintain its dominance throughout the forecast period.
– Asia-Pacific is forecasted to be one of the fastest growing markets, growing at a CAGR of 5.6% from 2016 to 2022.
– In 2015, North America and Europe collectively accounted for around two-thirds of the world IVD market revenue.
North America is anticipated to remain the highest revenue-generating region during the forecast period, owing to widespread adoption of diagnostic techniques among physicians and patients. However, the Asia-Pacific region is expected to grow rapidly during the forecast period, owing to increasing healthcare expenditure, improving hospital infrastructure, and increasing adoption of technologically advanced diagnostic techniques.
The key companies profiled in this report include F. Hoffmann-La Roche AG, Abbott Laboratories, Danaher Corporation, Johnson and Johnson, Sysmex Corporation, Becton Dickinson and Company, bioMrieux, Thermo Fisher Scientific, Inc., Ortho-Clinical Diagnostics, Siemens AG, and Alere Inc.
DNA sequencing means the process of identifying the precise sequence of nucleotides within DNA molecule. The technology plays a vital role in determining the sequence of four major bases such as thymine, ademine, cytosine and guanine in the DNA strand. Applications of DNA sequencing across has further kept the future of the market robust. Recently, an early pioneer is planning on mapping DNA and use their knowledge on genetics into one it kind blood test, that can pick up early signs of cancer. Furthermore, its application in forensics is increasing owing to the sudden rise in crime rate across different countries.
In a recent discovery, research specialist at the popular National Institute of Standards and Technology have introduced to the world a brand new concept that assures accurate and rapid gene sequencing. Researcher have made this possible by pulling the DNA molecule via a chemically stimulated hole in graphene. Theorist Alex Smolyanitsky at the institute said that “This is essentially a tiny strain sensor.” He added “We did not invent a complete technology. We outlined a new physical principle that can potentially be far superior to anything else out there.”, as published in Eureka Alert. Demand for gene editing that provides dramatic progress, when it comes to speed as well as genetic advancements has always been welcomes in the agricultural sector. CRISPR has finally provided an opportunity for highly modulated GMO governance. The promise as peril offered by CRISPR would open new avenues and boost the food production improvements.
Eyeing huge potential in the DNA sequencing market, an off – the – shelf report publisher has published a report titled “World DNA Sequencing Market – Opportunities and Forecasts, 2014 -2020”. The study further outlines the major drivers, restraints and opportunities that are influencing the global sequencing market. Research analysts designing the report brings to the table how application across Microbial, Consumer and Research, drug discovery would increase.
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The race to develop drugs or vaccine with an intent cure the deadly epidemic ‘Ebola’ has finally gained momentum. The entire process of developing, testing and getting a vaccine to the market can take about ten to twenty years. However, in Ebola’s case the entire procedures have been compressed to few months. This has brought several pharmaceutical companies, researchers and regulators into a defined territory, striving to manufacture vaccines that can put the still escalating epidemic to sleep without compromising on a patient’s safety.
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The push to develop a drug or vaccine for a growing public health treat in short time frame has also posed several challenges confirms some of the top officials at Merck. Signing of alliance is a key trend dominating the Ebola drug and vaccine market today. In a recent incident, Gavi global alliance has made it known that it has signed a US$5 M purchase commitment for a vaccine being manufactured by Merck. The drug is believed to protect people against any future outbreaks.
Drug manufacturers are also seen spending generously on research and development of the Ebola drug and vaccine. The investments made by ‘Walter Reed Army Institute of Research ‘is finally paying off. Institute is now ready to introduce a phase ll trial to assess both the effectiveness and safety of the developed prime – boost vaccine regime. Drug trial would be conducted on HIV patients and those who enjoys a good health, confirms a press release. Ebola vaccine trials across different countries or regions has also been a subject of discussion for those determine to discover a perfect cure. John-Arne Røttingen, who served the public health department since 1999 recently shot to fame for establishing and successfully running a vaccine trial in Guinea. On the other had Russia is seen boasting of vaccine tests in Africa under the observation of the United States.
Eyeing the rat race between major pharmaceutical brands, Allied Market Research has published a market research report titled “World Potential Analysis of Ebola drug and Vaccines Market – Opportunities and Forecasts, 2020”. Besides tracking the commercial trends, the study brings to the table major trials and their progress are pursued thoroughly. The prominent market players evaluated in the market research report includes Tekmira Pharmaceuticals, BioCryst Pharmaceutical Inc., Serepata Therapeutics, NewLink Genetics Corp. and Mapp Biopharmaceutical amongst others. Research analysts designing the report also make sure that all the important aspects are assessed to produce an actionable and relevant report.
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A new study by Allied Market Research, titled, “World Enteral Feeding Devices – Market Opportunity and Forecast, 2014-2020,” suggests that the global enteral feeding devices market is expected to register a CAGR of 5.6% during the forecast period (2015-2020). Enteral feeding tube segment would continue to dominate the market throughout the forecast period. Constant technological innovations and emergence of low profile (close to skin) tubes and gastrostomy buttons are the prime growth factors for enteral feeding tube market, the study suggests.
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Enteral feeding is a method of delivering nutrition or medications directly inside the stomach or intestine, and is usually recommended for patients suffering from chronic illnesses such as head & neck cancer, dementia and stroke. Increasing incidence of cancer and neurological diseases, growing awareness of enteral feeding and rising adoption of home and hospital enteral feeding devices would considerably drive the market growth.
In 2014, neurological application was the leading segment in the enteral feeding application market mainly due to the established use of enteral feeding devices in CNS and mental health disorders. However, by 2020, cancer is expected to takeover neurological application owing to increasing adoption of enteral nutrition among cancer patients and faster rise in cancer patients.
Home enteral feeding devices market segment would exhibit the highest growth during the forecast period owing to emergence of ambulatory and portable enteral feeding devices and reduced overall cost of home enteral care. Based on the age group of patients, pediatric enteral feeding devices market is expected to witness the highest growth due to high prevalence of malnutrition among children and development of convenient equipment designs for children.
Key findings of the study:
- The enteral feeding supplies and disposables collectively dominated the overall enteral feeding devices market in 2014 due to recurring sales of disposables such as giving sets and enteral syringes
- Cancer application would exhibit a CAGR of 6.3% over the forecast period – highest among all segments
- Hospital was the leading end-user market segment in 2014
- Adult enteral feeding device segment is projected to grow at a CAGR of 5.4% during 2015-2020
North America held a dominant position in the enteral feeding device market in 2014, and is expected to maintain its lead throughout the forecast period. This is mainly due to high per capita spending on clinical nutrition, and well established reimbursement scenario. Europe is the second leading geography due to increasing popularity of enteral feeding among adults and pediatrics and high clinical spending in countries such as Spain, France, Germany and United Kingdom. However, the Asia-Pacific region is estimated to register the fastest growth due to growing awareness of enteral nutrition and increasing disposable income in countries like China and India.
The key companies profiled in this report include, Medtronic plc, Fresenius SE & Co. KGaA, Halyard Health, Inc., Boston Scientific Corporation, Danone, Nestlé S.A., Moog, Inc., B. Braun Melsungen AG, C. R. Bard, Inc. and CONMED Corporation.
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