Single Cell Analysis Market is expected to reach USD 5.0 billion by 2024

The global Single Cell analysis market is expected to reach USD 5.0 billion by 2024, according to a new report published by Grand View Research, Inc. The rising adoption of Single Cell analysis tools owing to the improving healthcare scenario is fueling the growth of the market.

The continuous efforts in the R&D sector of the healthcare industry are resulting in the wide applicability of the Single Cell analysis technologies in the different disease areas, as a widespread diagnostic tool to address the complex heterogeneity observed in cells. Introduction of stem cell therapies and non-invasive techniques for prenatal analysis are some of the examples of the applications of the Single Cell analysis techniques. On the contrary, the high-cost and long shelf-life of the instruments is challenging the growth of the market.

Single Cell Analysis Market

In addition, the increasing pool of individuals suffering from target diseases, such as cancer, and neurological disorders, rising per capita income, and the government initiatives to encourage the R&D in healthcare sectors are augmenting the demand for Single Cell analysis in the developing countries. The extensive demand for non-invasive techniques for prenatal diagnosis to prevent the immunological and genetic disorders in fetuses is fueling the demand for Single Cell tests in the market. The penetration of advanced therapeutic tools for the treatment of chronic diseases, such as cancer related to the malfunctions of the Single Cells is proving to be a boon for the global market. Moreover, the adoption of stem cell therapy for treatments related to bone marrow transplants, hair regeneration, and other health-related issues is widening the scope of the Single Cell analytical technologies globally.

Geographically, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa (MEA). North America accounted for the largest market share and was followed by Europe in 2015.Well-developed healthcare and R&D infrastructure and the availability of skilled labor are pushing the adoption of Single Cell analysis in these regions.

AsiaPacificis expected to show the fastest growth rate during the forecast period. Factors, such as the booming medical tourism, availability of advanced healthcare treatments, and the availability of skilled healthcare professionals at a lower cost are some of the factors anticipated to accelerate the adoption of Single Cell analysis in the Asia Pacific region. Moreover, the increasing government expenditure for clinical research activities and the improvement of healthcare infrastructure are boosting the growth of the market. As a result, the Asia Pacific market is anticipated to capture around 21% of the global share during the forecast period.

Players are implementing strategies, such as partnerships, collaborations, and mergers to expand their market share. The collaborative agreement between Illumina, Inc. and Bio-Rad Laboratories, Inc. is one such example of the strategic endeavors undertaken by the market players.

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Further key findings from the study suggest:

  • The consumables segment accounted for the largest market share and is expected to maintain its dominance owing to the repeat purchase of reagents, assay kits, beads, and microplates
  • The instruments market segment is expected to show significant growth during the forecast period
  • The applications segment of the market is further divided into cancer, neurology, immunology, prenatal diagnosis, and in-vitro fertilization. Increasing prevalence of the target diseases is propelling the growth of the market.
  • North America captured the largest market share of around 38% in 2015 and is estimated to maintain its dominance throughout the forecast period. Speedy adoption of analytical techniques and the rising R&D efforts in the field of diagnostics are the major factors contributing to the largest market share of North America in the global market. The AsiaPacific region is expected to show significant growth from 2016 to 2024 due mainly to the flourishing clinical research sector, medical tourism, and the high government healthcare expenditure in the region.
  • The major market players in this market include but are not limited to Thermo Fisher Scientific, Inc., Illumina, Inc., Qiagen N.V., Bio-Rad Laboratories, Inc., Merck Millipore GmbH, Beckman Coulter, Inc. (U.S.),Becton, Dickinson and Company (U.S.)

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Cell Surface Marker Detection Market is expected to reach USD 6.49 billion by 2022

The global cell surface marker detection market is expected to reach USD 6.49 billion by 2022, according to a new report by Grand View Research, Inc. This growth in demand can be attributed to rise in incidence of oncology diseases and other cell-associated disorders.

Cell Surface Marker Detection Market

Rapid introduction of advancements and automations in clinical laboratories is a key factor affecting this industry. Incorporation of novel algorithms pertaining to diagnosis and prognosis of chronic disorders is expected to fuel demand of this market in the coming years.

Requirement of solutions for data handling and interpretation of clinical conditions based on obtained results are anticipated to enhance potential for R&D in this sector, consequently driving market growth over the forecast period.

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Further key findings from the study suggest:

  • Flow cytometry devices accounted for over 70% of the revenue generated in the industry for 2014. This large share can be attributed to the growing advancement in these instruments such as enhancement in efficiency and resolution of fluorescence-based cytometric detectors. Furthermore, presence of large product portfolio of different industry players operating in cytometry is responsible for large market share of this technique.
  • Disease diagnosis and identification accounted for over 50% of the revenue generated in the market for 2014. High incidence rate of cell-associated disorders and oncology diseases that need to be treated in order to curb the mortality rate are the major drivers for growth of this segment.
  • Determination of novel drug targets and development of biopharmaceuticals for prognosis of chronic diseases is anticipated to propel growth of research and drug discovery sub-segment in the coming years. With expected development of this segment, the sector will witness lucrative growth over the forecast period.
  • North America accounted for the largest share of this sector for 2014, as there are is significantly high number of research and development projects ongoing in the region related to cytological investigation for proteomics, genomics, and drug and vaccine development. Growing need for biopharmaceuticals is also anticipated to fuel regional growth.
  • North America dominated the industry in 2014, with revenue estimated at USD 999.0 million. Presence of sophisticated healthcare infrastructure and favorable government initiatives with respect to analytical techniques and their applications for disease diagnosis and drug development are some key factors likely to drive growth.
  • Asia Pacific is expected to witness lucrative growth from 2015 to 2022 due to the presence of high-unmet medical needs coupled with rapidly rising healthcare R&D investment and growing medical expenditures in emerging economies of India and China
  • Key participants of the cell surface marker detection industry include Siemens Healthcare, Nihon Kohden Corporation, Sartorius, Janssen Diagnostics Inc., Grifols SA, Thermo Fisher Scientific, BioRad Laboratories Inc., and F. Hoffman La Roche Ltd.
  • These participants are involved in R&D for production of cell-specific antibodies and collaborations with smaller entities operating in the market as well as with academic research laboratories in order to maintain their market position and enter the untapped market regions

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Patient Portal Market is expected to reach USD 5.2 billion by 2024

The global patient portal market is expected to reach USD 5.2 billion by 2024, according to a new report by Grand View Research, Inc. The demand for Electronic Health Record (EHR) with a patient portal is expected to exhibit an upsurge over the forecast period, owing to the increasing demand, favorable government funding policies, and the continual technological advancements offered by the key industrial players.

Patient Portal Market

In May 2016, CureMD signed a pledge of Voluntary National Interoperability. This pledge stated that action plans to develop and implement rapid flow in healthcare information between providers, patients, and other concerned authorities are to be implemented.

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Further key findings from the study suggest:

  • Integrated Patient portal was identified as the most lucrative segment in 2015. The rapid shift of providers from their previous methods to the EHRs, advancements in technology, and increasing demand were some of the reasons for its largest market share.
  • In June 2015, ICON (a global drug development and service provider) launched its online “Firecrest Patient Portal” It was specifically designed for a person to understand the entire treatment process before consulting the provider and view information regarding clinical trials.
  • Moreover, this provided services such as online appointment registration, laboratory tests and reports, and other necessary facilities.
  • Also, as per a report by the European commission, 11regions across the European Union (EU) had participated in the “Sustains project” since 2012, which was EU sponsored. This project was an initiative for joint learning, providing patients’ access to their health records and other online services.
  • North America dominated the market in 2015 as a result of the technological advancements and implementation of healthcare IT in the region.
  • In June 2014, Brattleboro Memorial Hospital launched “myHealthPortal.” It is expected to provide easy and early access to the selected portions of the health records. It is safe and secure, providing confidential communication between the providers and the patient.
  • Europe is expected to grow at a higher rate over the forecast period due to increasing demand of efficient healthcare delivery and advanced solutions. Increased government initiatives in the region and deployment of EHR-based portal solutions are considered responsible for its high growth rate.
  • In November 2015, an event was organized in the European Parliament by members of the European Parliament, Health Policy Partnership, Lung Cancer Europe, and European Cancer Patient’s Coalition. This event witnessed the launch of an Immuno-oncology Patient Portal that proved to be a unique solution for people suffering from cancer in Europe.
  • Developers are collaborating and expanding with the aim of combining the use of innovation and technology to improve efficiency and provide better services for the convenience of the providers.
  • In 2016, McKesson Corporation announced a partnership with Blue Cross Blue Shield of Arizona. This partnership will help deliver a broad range of services, thereby assisting the service providers.
  • In 2015, GE Healthcare announced the acquisition of Camden Group in order to provide their clients access to analytics that involves change management and activation resources, which support organizational and clinical changes.
  • Some key players in this market are GE Healthcare, Allscripts Healthcare Solutions, McKesson Corporation, and Cerner Corporation.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Healthcare Analytics Market is expected to reach USD 42.8 billion by 2024

The global healthcare analytics (HA) market is expected to reach USD 42.8 billion by 2024, according to a new report by Grand View Research, Inc. Efforts to reduce the spiraling healthcare costs is facilitating the usage of the healthcare analytics. Additionally, the benefits of HA include the improvement of patient access to customized care, the furthering of transparent operations to enable better public oversight, and innovation in patient care delivery and services.

Furthermore, analytics play a major part in striving to ameliorate the health economic efficiency. For instance, l’Assurance Maladie in France employed analytics to assess the clinical safety of the class of cholesterol-lowering drugs, statins, which have been implicated in causing severe side-effects, and the derived results were used to introduce evidence-based performance measures to address the cracks in the operational system.

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Further key findings from the study suggest:

  • Descriptive analytics held a significant share in 2015 owing to its applications in process optimization in organizations. On the other hand, predictive analytics is anticipated to grow at a lucrative rate over the forecast period mainly due to its wide applicability in medical systems, such as fraud prevention, disease prevalence forecasts, and risk assessment.
  • The services category dominated the component segment in 2015. Outsourcing of these big data services contributed towards their growth in leading to the high volume of services rendered. Moreover, the outsourcing of services helps in cutting costs associated with infrastructure requirements and in addition, avoids the requirement of skilled individuals to perform the same task.
  • The hardware systems category dominated the component segment, high-cost of the hardware, such as the use of computer systems and internet servers contributed to its growth.
  • On-premise delivered analytic services dominated the delivery mode category with around 54.0% share in 2015. However, the cloud-based delivery mode segment is anticipated to grow at a profitable rate over the forecast period. The benefits of the cloud system, which include remote data entry and real-time data entry features are expected to result in the growth of this segment.
  • The applications of the healthcare big data include financial applications, operational & administrative applications, and clinical applications. Operational and administrative applications governed the applications segment and held a remunerative share in the year, 2015.
  • The demand for financial applications is anticipated to boost over the forecast period. These applications include payment and claim settlements and fraud prevention and risk analysis. Various initiatives undertaken by the government, such as the Fraud Prevention System (FPS) from the CMS is promoting its adoption.
  • The end-users of HA include payers, providers, and others. Payers held a significant market share in 2015 and the providers are anticipated to grow at a lucrative rate. The usage of these services by providers is for population health management, quality improvement, and personalized care.
  • North America captured a significant share in the global market. Advanced healthcare infrastructure in this region and the growing per capita healthcare expenditure supported the greater consumption of these services.
  • The Asia Pacific region is expected to witness gainful growth attributable to the untapped opportunities in the countries including India and China.
  • Some key players operating in the healthcare analytics market include IBM Corporation, Oracle Corporation, SAS, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Optum Health, Inc., and Verisk Analytics, Inc. The notable initiatives in the industry include new product launches, collaboration with government bodies, and investments directed towards R&D efforts.
  • For instance, in December 2015 Truven Health Analytics, Inc. and Philips Electronics N.V. integrated Truven Health Micromedex Solutions in the management platform, the Tasy System. This integrated platform is anticipated to facilitate fast and easy access to a wealth of evidence-based medical information present in the drug interaction repositories of Micromedex Solutions.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Managed Security Services Market is expected to reach USD 60.94 billion by 2024

The global managed security services market is expected to reach USD 60.94 billion by 2024, according to a new report by Grand View Research, Inc. The proliferation of advanced threats is expected to increase the adoption of managed security services over the forecast period.

Growing usage of cloud storage systems among organizations is driving the demand for cloud-based security services. Moreover, regulatory compliances in several countries to protect loss of information are enabling enterprises to deploy security services. For instance, in 2014, Russia announced the adoption of new regulations for the collection and storage of information only on the Russian territory effective from September 2016.

Managed Security Services Market

Managed security services are expected to grow at a robust pace owing to the fast emerging BYOD trend, increasing cybercrime activities and growing concerns for malicious malware attacks. Owing to the increasing consumer privacy regulations such as Personal Protection Act and Consumer Protection Regulations, various sectors such as BFSI and telecom are increasingly adopting these services.

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Further key findings from the study suggest:

  • The managed endpoint threat protection is expected to remain the largest segment owing to the growing BYOD trends among organizations and the need to mitigate the growing malware threats
  • Cloud-based managed security services are expected to be the fastest growing segment owing to the rising number of remote workforce. Moreover, organizations are shifting from on-premise to cloud-based services to reduce the expenditure in managing these services.
  • Telecom & IT is expected to grow at a CAGR of over 16.5% owing to the increasing need to protect and maintain customer privacy. Compliance with regulatory and legal requirements is critical for telecom operators to sustain their operations.
  • The North America managed security services industry is anticipated to remain the largest over the forecast period. The continuous increase in computer hacking is leading to greater adoption of these services in the region.
  • Asia Pacific is expected to be the fastest-growing region, growing at a CAGR of over 19% from 2016 to 2024. Owing to the rising number of complex cyber threats, companies in the region are outsourcing network infrastructure security.
  • Key players in the managed security services market include Dell SecureWorks Inc., IBM Corporation, Symantec Corporation and Verizon Communications Inc. Companies are focusing on providing fully integrated security solutions to develop technologies in the security space.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Polyurea Coating Market is expected to reach USD 1.48 billion by 2024

Global polyurea coating market is expected to reach USD 1.48 billion by 2024, according to a new report by Grand View Research, Inc. Polyurea coating have numerous advantages over conventional coating products, namely, epoxy, fiberglass, and paints. Its properties such as faster setting time, resistance to atmospheric conditions, and high mechanical strength are expected to drive the demand over the next eight years. Polyurea coating offer high standards of corrosion protection, waterproofing, and chemical & structural enhancement. Moreover, these exhibit superior characteristics in spray applications such as improved mechanical, thermal, and chemical resistance, short curing and setting time and high durability as compared to its substitutes.

Polyurea Coating Market

Increased resistance to crack allows it to be utilized in a host of applications.  Rising demand for coating in automotive, buildings & construction, marine, oil & gas, metallurgy & metal forming, aerospace, and mining is expected to propel growth over the forecast period. Extensive R&D is being undertaken by manufacturers to develop innovative technologies for coating manufacturing and development of superior quality products.

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Further key findings from the study suggest:

  • Polyurea coating use in industrial application is expected to witness growth at a CAGR of over 12.0% from 2016 to 2024 on account of rising manufacturing sectors in emerging economies. Numerous companies have been expanding production capacities in order to tap potential markets which are expected to propel demand. Increasing demand for protective coating from the oil & gas and mining sectors is projected to have a positive impact on market growth over the next eight years.
  • Aromatic isocyanate-based coating are expected to grow at a CAGR of over 10% from 2016 to 2024 on account of properties such as excellent UV resistance leading to increasing application scope in the automotive industry. However, the increased price of these products is expected to hinder growth over the forecast period.
  • North America dominated the market in 2015 on account of the presence of a substantial number of market players in the region. The U.S. market for polyurea coating was valued at over USD 150 million in 2015. Supportive regulations and rising investments in Asia Pacific automotive industry is expected to accelerate growth.
  • In March 2014, Bayer Material Science opened a coating, Adhesives, and Specialties Laboratory in Dubai, to enhance its services by providing customized technical support to the customers in the Middle East & Africa.  In February 2012, Alberts Spray Solutions LLC opened a new manufacturing site for polyurea liners in Ohio to cater to the demand from Utica Shale Region of Eastern Ohio and Southwest Pennsylvania. New product development, R&D investments, and expansion strategies are being adopted by the market players to expand their global footprint.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Silicon Wafer Reclaim Market size is expected to reach USD 577.3 million by 2024

The global silicon wafer reclaim market size is expected to reach USD 577.3 million by 2024, according to a new report by Grand View Research, Inc. Increasing raw material prices for manufacturing virgin silicon wafers are likely to compel manufacturers to adopt reclaim technologies. Rising demand for the product as test wafers for testing, controlling and monitoring semiconductor fabrication processes is expected to be a key driver for the industry growth. Rising consumer awareness coupled with government focus on renewable energy sector is expected to drive demand for solar PVs, which in turn is expected to have a positive impact on the market over the projected period.

Silicon Wafer Reclaim Market

Technological advancements in the reclaiming process to increase yield, improve quality, cut reclaim cycle time and reduce cost is expected to open new avenues for the industry growth. The rapid growth of end-use industries including solar photovoltaic and consumer electronics is likely to propel demand for the product and impact the reclaim industry on a positive note. Competitive pricing trends in the consumer electronics industry have resulted in increased demand for low-cost raw materials, which is likely to open new avenues for the market over the next eight years.

300 mm reclaimed silicon wafers dominated the industry and are projected to grow at a significant share owing to its rising demand for solar cell manufacturing. Higher efficiencies offered by 300 mm wafers than its counterparts including 200 mm and 150 mm wafers are anticipated to offer a competitive advantage for the product market over the forecast period. Solar cell manufacturing is expected to be major application segment for the industry owing to increasing solar PV installations across various parts of the world.

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Further key findings from the study suggest:

  • 200 mm reclaimed wafer is expected to grow at a CAGR of more than 3.5% owing to its application in integrated circuits used in electronic devices such as smartphones, personal computers, and memory devices. In addition, the growing use of the reclaimed wafer for MEMS circuits and detectors is expected to spiral growth over the forecast period.
  • North America market was valued at over USD 75 million in 2015 owing to increasing demand from the solar energy generation industry. In addition, growing demand for economical silicon wafers for use as a base in the semiconductor industry is expected to drive the market growth in the region. Furthermore, substantial planned solar PV installations in the U.S., Mexico, and Canada is expected to drive the demand for reclaimed and virgin silicon wafers.
  • Latin America is expected to witness a restrained growth of 3.0% owing to a moderate demand for the product owing to a less established semiconductor industry. However, the demand is expected to be fueled by growing installation of solar power generation equipment due to increasing demand for renewable energy sources.
  • Key participants include Nano silicon Inc., Advantec Co. Ltd, KST World Corp, Noel Technologies, Pure Wafer PLC, Rockwood Wafer Reclaim SAS, Silicon Materials Inc, RS Technologies, KEMI Silicon Inc., and Shinryo Corporation.
  • Companies are focused on increasing their footprint by backward integrated to the production of wafers and providing the used wafers for reclaim. For instance, Pure Wafer PLC, an America based company deals in the production and sales of test and virgin wafers and is also a provider of the silicon wafer reclaim services.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Vein Illuminator Market is expected to reach USD 358.5 million by 2024

The global vein illuminator market is expected to reach USD 358.5 million by 2024, according to a new report published by Grand View Research, Inc. The vein illuminator market is anticipated to witness a lucrative growth during the period 2016 to 2024. The factors contributing towards the growth of the market are the growing aging population and the efforts channelized towards improving patient satisfaction. Additionally, factors, such as the demand for technologically advanced medical equipment and the rising research and practical applications are expected to be opportunistic for the industry growth. However, the prevalence of traditional methods owing to the high costs of the vein illuminator devices is likely to hinder the growth of the market in the near future.

Vein Illuminator Market

The vein illuminator market is segmented on the basis of technology, application, end-user, and region. Based on technology, the market is further categorized into transillumination, infrared technology, and ultrasound. The near-infrared illumination technology is estimated to be the largest shareholder due to its ability to penetrate deep into the tissue, which makes it possible to visualize the vessels clearly.

On the basis of application, the market is segmented into intravenous access and blood draw. The end-user segment comprises hospitals, rehabilitation facilities, blood donation camps, and academic institutions. The market for hospitals is expected to grow rapidly during the forecast period due to a surge in the demand for technologically advanced medical equipment. The market is also categorized into North America, Europe, Asia Pacific, MEA, and Latin America.

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Further key findings from the study suggest:

  • In terms of market share, the North America vein illuminator market is expected to hold majority of the share in 2016. Factors resulting in the growth of this industry are the steady preference for highly-advanced medical devices by hospitals as well as the presence of several medical device manufacturing companies in the region.
  • The infrared illumination technology is estimated to lead the industry due to its deep penetration capability into thick tissues tohighlight the presence of vessels with increased clarity. Based on application, the segment for intravenous access is estimated to be the largest shareholder, followed by the blood draw segment.
  • The vein illuminator industry comprises several local as well as global players. Some prominent players in this industry include Accuvein, Inc., Christie Medical Holdings, Inc., Infrared Imaging Systems, Inc., Translite, LLC, and Venoscope, LLC,among others. In order to hold a major share in the industry, the companies are adopting both organic as well as inorganic strategies. The major strategies adopted by the companies are new product development, mergers, collaborations, partnerships, geographical expansions, and acquisitions.
  • The companies are also focusing on research and development activities in order to enhance their product portfolio. For instance, in September 2015, Accuvein, Inc., declared its 26th patent, which was issued by the United States Patent and Trademark office for their vein visualization system.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Cord Blood Banking Service Market is expected to reach over USD 12 billion by 2022

The global market for cord blood banking (CBB) service is expected to reach over USD 12 billion by 2022, growing at an estimated CAGR of around 11% from 2015 to 2022, according to a new report by Grand View Research, Inc. Key drivers of the market include increasing application of stem cell therapy in disease treatment, and rising prevalence of life threatening genetic disorders.

Cord Blood Banking Service Market

Moreover, increasing spending capacity is fueling the demand for advanced healthcare facilities including prevention and treatment. As a result, parents are increasingly demanding CBB Service to ensure safety of their child’s future. Furthermore, private players are practicing marketing activities which are creating awareness about the availability of the CBB Service and their benefits.

In addition, governments worldwide are promoting public CBB to develop ethnically diverse cord blood repository which would increase the chances of finding suitable human leukocyte antigen (HLA) match for the patients. As a result, availability of the ethnically rich CB repository coupled with anticipated rise in the stem cell therapies and bone marrow transplants, is expected to spur the CBB Service during the forecast period.

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Further key findings from the study suggest:

  • Private bank segment accounted for the largest market share in 2014. High cost of collection, processing, and storage along with the maximum awareness created by marketing activities practiced by the players resulted in large market share of private banks in the world.
  • Rising government support and no storage and collection costs are the major factors anticipated to drive the public banking segment during the forecast period from 2015 to 2022 with highest CAGR.
  • North America dominated the global market and was followed by Europe in 2014. Dominance of North America is accounted by government support and high penetration rate of stem cell therapy in the U.S. and Canada. Moreover, high awareness and insurance coverage of cord blood banking and stem cell therapies is further boosting the growth of the market in North America.
  • Densely populated emerging countries of Asia Pacific are anticipated to show significant growth during the forecast period from 2015 to 2022. Factors such as increasing investment by global players, government support and rising healthcare expenditure are anticipated to boost the cord blood banking Service market in Asia Pacific.
  • Global cord blood banking Service market is highly fragmented with presence of many private and public players. Few global players operate in various geographies through subsidiaries. While local players are operating independently in respective geographies.
  • Key players of this market include China Cord Blood Corporation, Cord Blood America, Inc., CBR Systems, Inc., Cordlife Group Limited, Cryo-Cell International, Inc., Cryo-Save AG, Lifeforce Cryobanks, National Cord Blood Program, ViaCord, Inc. and Virgin Health Bank

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Brain Computer Interface Market is expected to reach USD 1.7 billion by 2022

Global Brain Computer Interface (BCI) Market is expected to reach USD 1.7 billion by 2022, according to a new study by Grand View Research Inc. Increasing incidences of neurodegenerative conditions, advancements in neuroscience, rising geriatric population base and the growing demand for neuroprosthetics are some impact rendering drivers of the brain computer interface market. Furthermore, growing R&D investments and the presence of government projects such as DECODER (European project that used brain computer interface to detect consciousness in non responsive patients) coupled with rising focus of major market players on emerging economies such as Japan and China are also expected to propel market growth over the forecast period. Introduction of technological advancements occurring in the market is expected to result in the availability of better options for healthcare personnel and individuals. The technology encompasses a wide array of applications designed to revolutionize the communication, automation, security and entertainment experience. Brain computer interface is an emerging technology which is currently at a nascent stage; however, the increasing interest among researchers in collaboration with the government is expected to fuel the future growth of this market.

Brain Computer Interface Market

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Further key findings from the study suggest:

  • Non-invasive BCI is identified as the most lucrative product sub segment of the market and is expected to grow at a rate of over 10.0% over the forecast period majorly owing to, increasing prevalence of paralysis.
  • BCI based healthcare segment accounted for the largest market share in 2014. Rising incidences of brain related disorders, increasing R&D spending over medical applications and growing base of geriatric population are some driving factors for this segment.
  • North America was the largest regional market with a revenue share of over 40.0% in 2014 on account of the presence of an extensive number of ongoing BCI projects. Growing patient awareness level and accessible healthcare infrastructure is also expected to lead to an expedited market growth over the forecast period.
  • Asia Pacific is identified as the most lucrative regional market. Large presence of untapped opportunities coupled with rapidly improving economic conditions is expected to drive regional market growth over the forecast period. China is expected to witness the fastest growth over the forecast period.
  • Key players of the brain computer interface market include Emotiv System, Mind Solutions Corp., Puzzlebox, Natus Medical, Interactive Productline, Compumedics Ltd. and Neuroelectrics.

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