Allergy Diagnostics And Therapeutics Market Forecast Report, Industry Trends To 2022: Grand View Research, Inc.

Global allergy diagnostics and therapeutics market is expected to reach USD 40.8 billion by 2022, according to a new report by Grand View Research, Inc. Increasing prevalence of allergic conditions and adoption of immunoassay as a viable diagnostic test is expected to serve this market with lucrative future growth opportunities.
The prevalence of target diseases such as asthma and food allergies are expected to grow over the next seven years, supported by sedentary and dietary lifestyle habits. In addition, rising indoor, industrial pollution, rapid urbanization in developing countries and increasing greenhouse gas concentrations are expected to increase the prevalence of pollen induced respiratory disorder, thereby boosting the overall market growth over the forecast period.
Increasing incidences of allergies has triggered the demand for sensitive, cost effective and accurate diagnostics tools. Manufacturers in congruence with the changing customer preferences are now engaged in constant product development. For instance, the MeDALL allergen-chip for allergy determination is further expected to propel market growth during the next seven years.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/allergy-diagnostic-market

Allergy diagnostics product penetration & future growth opportunities, by allergen type

 

Further key findings from the study suggest:

• Consumables being an indispensable diagnostic product segment sell in large volumes and therefore, dominated the market in 2014 with revenue share of over 55.0%. In addition, expensive nature of reagents and their frequent application in diagnostic assay also supports the aforementioned fact.
• Increasing demand for analyzers and laminators for allergy diagnostics is expected to help this segment grow at a lucrative CAGR of above 12.0% over the forecast period. Increasing awareness pertaining to outsourcing of allergy testing services is anticipated to show upward shift in coming years.
• Increasing demand for minimally invasive and allergen specific tests is anticipated to serve in vitro allergy diagnostics market with future growth opportunities.  The market is expected to grow with CAGR of above 12.0% over the forecast period.
• Inhaled allergens accounted for the largest share of revenue in 2014 owing to, the growing incidences of respiratory allergies. According to statistics published in 2012 by American Academy of Allergy Asthma and Immunology (AAAAI), around 7.8 million children suffered from respiratory allergies worldwide and the number is expected to increase over the forecast period.
• Hospitals are the largest consumer of allergy diagnostic products. The segment is anticipated to grow with CAGR of over 11.0% in coming years.
• Antihistamines were the largest allergy therapeutic segment as of 2014 with share valued at over 17.0% due to associated advantages such as non sedating nature of drugs and minimum side effects with use of second generation antihistamines in allergy treatment.
• Immunotherapy vaccines are expected to witness lucrative growth owing to extensive R&D coupled with the introduction of sublingual immunotherapy tablets in the treatment of allergic rhinitis. For instance, In April 2014, the U.S. FDA announced the approval of a five-grass pollen sublingual tablet (Ex-Oralair) produced by Stallergenes which are used in the treatment of pollen allergy.
• Some key players of this market include Thermo Fisher Scientific, Omega Diagnostics, Siemens Healthcare, Stallergenes Greer, Lincoln Diagnostics, bioMerieux, HOB Biotech Group, Alcon Laboratories, Hycor Biomedical and Hitachi Chemical Diagnostics.
• Industry players are focusing on introducing technologically advanced and innovative products to gain competitive advantage. For instance, in March 2015, Stallergenes received approval for STG 320 in Japan, which is the first sublingual immunotherapy tablet used in the treatment of house dust mite allergy. 

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Medical Device Outsourcing Market Analysis, Size, Share, Growth To 2022

Global medical device outsourcing market is expected to reach USD 62.6 billion by 2022, according to a new report by Grand View Research Inc. Rising price competition and need for reduction of production cost are expected to serve as the most impact rendering drivers for the medical device outsourcing market. 

Sharp cutbacks in the public spending in major EU markets and the U.S., are some key issues currently faced by the medical devices manufacturers. Increasing pressure to enhance profitability in an attempt to cope with the rapidly maturing medical devices markets and growing competition is expected to heighten the demand for outsourcing. 

The medical device outsourcing market is dynamic and highly competitive. Over the next seven years, the industry is expected to witness significant growth owing to steep decline in duration for product commercialization by companies in order to gain the advantage of being the first mover. 

Product design and development are the most availed services, thereby making this segment the largest in terms of revenue in 2014. Expedited commercialization timeframe and faster return on investment are two of the most significant features associated with this segment. 

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North America medical device outsourcing market share, by service, 2012-2022 (USD Million)

 

Further key findings from the study suggest:

• Class II medical devices are expected to grow at the fastest rate and hold the largest share of the medical devices outsourcing market by 2022. Class II devices include majority of surgical equipment and the rising surgical procedure volume is anticipated to drive the segment growth to about USD 30 billion by 2022
• In the services segment, product implementation is anticipated to be the fastest growing segment over the forecast period, owing to, complete assistance and assurance to the medical device manufacturers in functions such as; environment/unit set up, product manufacturing unit installation, server and database administration, client administration, and others.
• Orthopedic is identified as the most lucrative therapeutic class owing to rising incidences of injuries and spinal/joint disorientations. Also, technological advancement in the field of design of prosthetics may contribute to the segment growth.
• The U.S. is expected to dominate the market throughout the forecast period, owing to factors such as growing surgery volume, rising geriatric population base, and higher healthcare expenditure levels.
• Asia Pacific is predicted to be the fastest growing region during the forecast period owing to, increasing price competition, number of skilled professionals, and rising demand for expedited commercialization timeline.
• Key medical device outsourcing market players include; Daiichi Jitsugyo Co. Ltd., Mitutoyo Corp., Hamilton Company, Cirtec Medical Systems LLC, Kinetic Climax Inc., Creganna Tactx Medical Inc. and Omnica Corp. among others.

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Latest Study - Oncology based Molecular Diagnostics Market Share, Growth Prospects To 2022: Grand View Research, Inc.

Global oncology based molecular diagnostics market is expected to reach USD 3,391.0 million by 2022 according to a new report by Grand View Research Inc. The rising geriatric population base, increasing global prevalence of cancer, rise in sedentary lifestyle adoption levels, and rising awareness & patient education are the driving forces for the oncology based molecular diagnostics market growth over the forecast period.

Growing prevalence of cancer patients owing to adoption of sedentary lifestyles and decrease in immunity levels are estimated to increase industrial growth rate. Furthermore, large variations in both cancer incidence and mortality rates in different sub-regions of developing countries such as Brazil, Mexico, South Africa, and India are also anticipated to enhance the usage of molecular diagnostics to increase survival rates by early detection and validation.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/oncology-based-molecular-diagnostics-market

 North America oncology based molecular diagnostics market revenue by product, 2012-2022, (USD Million)

Further key findings from the study suggest:

• Breast cancer accounted for largest market share in 2014 with revenue estimated at around USD 170.0 million. Molecular diagnostic assays for breast cancer prognostic are expected to increase the adoption of molecular diagnostics in the near future.
• Colorectal cancer is estimated to witness lucrative growth over the forecast period owing to the availability of technologically advanced microarrays & assays such as miRNA microarrays.
• On the basis of product, reagents dominated the overall market with a share of over 55% in 2014 owing to high usage rates. Growing initiatives by researchers in this field for detection of disease related novel biomarkers for drug development purpose are estimated to be the key factors attributing to this segment’s growth
• Clinics and other establishments dominated the overall market in 2014 due to the presence of high procedure volumes and the extensive presence of ancillary support in terms of man power and infrastructure. PoC testing for oncology on the other hand is anticipated to witness significant growth supported by rapidly changing customer preferences.
• In situ hybridization was identified as the most preferred molecular diagnostic technique for breast cancer owing to the advantages associated with FISH technology such as accuracy, sensitivity, and speed. It held over 31.0% of the market in 2014. Whereas, PCR was the extensively preferred technique for lung cancer diagnosis in 2014.
• Sequencing is estimated to be the fastest growing segment with CAGR estimated at over 19.0% during 2015 to 2022. Development of next generation sequencing techniques providing high throughput analysis and sequencing of genomic data is one of the key drivers for significant growth.
• North America on account of the presence of established healthcare infrastructure, high patient awareness levels, increasing disposable income, and high R&D pertaining to drug discovery and development led the market in 2014 in terms of share at over 35.0%
• Asia Pacific is also estimated to witness significant growth over the forecast period owing to the presence of a large number of target population, rising awareness levels for cancer detection, and increasing government initiatives in this region enabling the achievement of the largest market share
• Key players of this market include Abbott Laboratories, Bayer Healthcare, Becton Dickinson, Cepheid, Danaher Corporation, Gen Probe, Roche Diagnostics, Siemens Healthcare and Sysmex Corporation.

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Latest Study - Audiology Devices Market Trends, Analysis To 2020

The Global Audiology Devices Market is expected to reach USD 9,542.3 million by 2020, growing at an estimated CAGR of 5.0% from 2014 to 2020, according to a new study by Grand View Research, Inc. Introduction of technological advancements such as wireless devices, acceptance of these devices by the geriatric population along with increase in demand of cost-effective and efficient devices are some of the major drivers of this market. In addition, presence of untapped growth opportunities in emerging countries such as India, Brazil and China and the increasing health awareness are expected to serve this market as future growth opportunities.

Hearing aids dominated the overall market in terms of revenue share at 64.1% in 2013. High comfort rendered by these products, enhanced connectivity and enhanced user friendliness are some of the factors attributing to its high usage rates and subsequently large market share.

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Further key findings from the study suggest:

• Behind-the-Ear (BTE) aids dominated the hearing aid market by product in terms of share at over 55.5% in 2013 due to its ease of use and connectivity.

• Europe was the largest regional market in 2013, accounting for over 40.0% of global revenue due to the increased prevalence of deafness coupled with the presence of high patient disposable incomes and sophisticated healthcare infrastructure.

• Asia Pacific audiology devices market is expected to grow at the fastest CAGR of 7.4% from 2014 to 2020. Presence of unmet medical needs coupled with a regularly improving healthcare infrastructure coupled with growing population in emerging markets such as India and China are some of the factors attributing to its lucrative growth.

• Cochlear implants are expected witness significant growth over the forecast period, owing to its high effectiveness in terms of sentence understanding. A cochlear implant achieves an average of 80% sentence understanding as compared to hearing aids with 10% sentence understanding.

• Key industry participants of this market include William Demant Holdings A/S, GN ReSound Group, Sonova Holdings AG, Starkey Hearing Technologies, Siemens Healthcare and Widex A/S, Phonak, Audioscan, Cochlear Ltd., Interacoustics, ReSound, Rayovac, Advanced Bionics, MED-EL, Natus, Duracell, Grason-Stadler, Sophono, Oticon, MedRx, Power One, Austar Hearing, National Hearing Care, and NHC/Amplifon.

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