Agricultural Films Market is expected to reach USD 13.85 billion by 2024

The global agricultural films market is expected to reach USD 13.85 billion by 2024, according to a new report by Grand View Research, Inc. Growing population is anticipated to exert pressure on agricultural productivity. These films are used to enhance the productivity and improve crop quality by minimizing soil erosion, providing nutrients, and suppressing weed growth. They are primarily made of polyethylene. Growing consumer disposable income coupled with the rising high-quality crops demand is anticipated to drive the market growth over the forecast period.

Depleting arable land is expected to impact market growth positively over the next eight years. Protective films are placed over soil, covered over greenhouses and wrapped around fodder. Various benefits offered by agricultural films including reducing the risk of seed germination, decreasing soil compaction, raising soil temperature, providing nutrients, and protecting against UV rays. These advantages are expected to raise product demand in near future.

Agricultural films for green house dominated the global demand and accounted for 42.9% of total revenue in 2015. This trend is anticipated to continue over the forecast period on account of rising demand from emerging economies such as China and India.

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Further key findings from the study suggest:

  • The global agricultural films market demand 5.15 million tons in 2015 and is expected to reach 8.28 million tons by 2024, growing at a CAGR of 5.4% from 2016 to 2024
  • Linear low-density polyethylene (LLDPE) was the major raw material segment in 2015 and is expected to reach a market worth USD 7.29 billion by 2024, growing at a CAGR of 8.0% from 2016 to 2024. The high growth may be attributed to the growing demand for these films in Asia Pacific.
  • Low-density polyethylene (LDPE) is projected to grow at a CAGR of 7.3% from 2016 to 2024. The high growth may be attributed to their use in agriculture areas with harsh climatic conditions and limited water supply.
  • Asia Pacific was the leading consumer and accounted for 70.1% of global revenue in 2015 owing to rising consumer disposable income coupled with favorable government initiatives in the agriculture sector.
  • Major companies operating in the global agricultural films industry include AB Rani last Oy, AEP Industries, Al-Pack Enterprises, BASF, Berry Plastic Group, Inc., British Polyethylene Industries PLC, Novamont S.PA, RKW and Triplast Industrier AB.

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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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Industrial Protective Footwear Market size is expected to reach USD 6.56 billion by 2024

The global industrial protective footwear market size is expected to reach USD 6.56 billion by 2024, according to a new report by Grand View Research, Inc. The substantial growth prospects of the market can be attributed to the rising number of worker accidents across global organizations.

Comfort, innovation, safety, and aesthetic value are the key characteristics of the industrial safety footwear. The global shoe manufacturers over the years have been striving to integrate these features into their products in order to offer improved safety in the workplace as well as provide comfort to workers. Industrial protective shoes have been facing a substantial demand from various industries to avoid fatalities and accidents in the workplace.

With a paradigm shift towards worker safety instead of maximizing profits, a huge demand has been created for protective footwear in hazardous work environments and is anticipated to drive the industry over the forecast period.

In the recent years, safety wear has emerged as an increasingly preferred choice for many companies. These safety products are essential for the prevention and protection against occupational fatalities to workers as well as for the prevention of legal action towards organizations.

However, the high sale volume of spurious and cheap products in the industry is envisioned to challenge the industry growth in the near future. Furthermore, due to the increasing popularity and rising demand for premium branded safety shoes, these products become the sole target for counterfeiting. Thus, high sales volume of counterfeit and low-quality products are expected to challenge the industry growth.

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Further key findings from the study suggest:

  • Leather footwear is presumed to emerge as a predominant product over the forecast period. Leather is increasingly used in safety shoes to provide protection against fatal electric shocks due to its non-conductivity. Moreover, a genuine leather provides protection against falling objects, punctures, cutting hazards, burns, and extreme weather.
  • The rubber safety shoe market was valued at over USD 120 million in 2015 and is expected to grow at a considerable rate over the forecast period. With the emerging use of intense colored rubber materials, safety shoes have now become ergonomically enhanced, water resistant, and lightweight, thereby making them a good choice for various industries.
  • Construction is expected to emerge as a predominant application segment over the next eight years. Growth in this segment is primarily driven by the rising number of workplace accidents, which has, in turn, fueled the adoption of industrial shoes among infrastructure developers to improve occupation safety.
  • Europe led the industry in terms of market share in 2015 and is expected to retain its dominance over the forecast period. The demand in this region is mainly driven by the implementation of standards and compliance with stringent regulations that mandate the use of safety shoes at the workplace. The widespread presence of safety shoe manufacturers in the region is anticipated to drive the industry growth in the region.
  • Low-cost labor, capital, and raw materials, as well as low-interest loans and tax incentives, have forced footwear manufacturers to migrate from North America, UK, and Italy to Asia, especially China. Moreover, the Chinese government is presently attracting footwear manufacturers with various incentives and is working to shift the footwear production sites from the coastal regions to internal territories.

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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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Mannitol Market is expected to reach USD 418.3 million by 2024

The global mannitol market is expected to reach USD 418.3 million by 2024, according to a new report by Grand View Research, Inc. Increasing demand for confectionery and bakery products such as candies, chewing gums and lozenges is expected to drive the market growth.

Mannitol is used for coating these products and also has less calorie content compared to sugar. It is widely used in sugar-free products on account of its non-hygroscopic nature and is also consumed primarily by patients suffering from diabetes.

Rising geriatric population base who do not have ready access to water at times, use mannitol-derived chewing gums. Such a trend is expected to aid the overall market over the forecast period. Owing to properties such as cooling sensation in the mouth, good aqueous solubility and lesser sensitivity towards humidity, mannitol is widely used in food grade application.

However, excessive consumption of mannitol may cause laxative effect among human beings. Such a trend is anticipated to negatively impact the global demand along with its prices over the future years.

Various regulations have been issued by European and the U.S. governments such as E421, which have been favorable to the industry growth over the next eight years. Moreover, there have been lots of technological advances in recent past to produce cheaper raw materials such as inulin which is a polymer of fructose and derived from plant tubers. These are expected to create new avenues for industry participants.

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Further key findings from the study suggest:

  • The global mannitol market demand was 16.6 kilo tons in 2015 and is expected to reach 35.9 kilo tons by 2024, growing at a CAGR of 9.0% from 2016 to 2024
  • Food additive emerged as the leading application segment and accounted for 36.9% of total market volume in 2015. Increasing demand for low calories sugar on account of growing health awareness is expected to drive this segment over the forecast period.
  • Pharmaceutical is presumed to be the fastest growing application segment at an estimated CAGR of 9.6% from 2016 to 2024. Mannitol is used as excipients in pharmaceutical tablet formulation and also helps in treating diseases related to kidney & brain.
  • Asia Pacific emerged as the most dominant regional market in 2015 and held over 60% of global demand for the same year. Changing lifestyle coupled with the prevalence of diseases related to sugar consumption in China, Japan and India are expected to benefit the regional market.
  • Key companies in the industry include Roquette, Cargill, SPI Polyols, Inc., SPI Pharma, Bright Moon Seaweed, Singsino Group Ltd., Hebei Huaxu Pharmaceutical Co., Ltd, EMD Millipore and Moga International Ltd. The market witnesses’ different dynamics regarding market strategies, M&As, and product diversification.

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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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Ophthalmic Devices Market is expected to reach USD 55.5 billion by 2024

The global ophthalmic devices market is expected to reach USD 55.5 billion by 2024, according to a new report by Grand View Research, Inc. The rising geriatric population base is presumed to propel the need for ophthalmic devices as this age group is more prone towards the development of chronic eye disorders. The rising prevalence of eye disorders such as macular degeneration, cataract, diabetic retinopathy and glaucoma is also boosting the growth of ophthalmic devices.

Approximately 10% of the people suffering from eye disorders will experience loss of vision in spite of the proper treatment as per the statistics of the WHO, driving the clinical urgency to incorporate highly advanced ophthalmic devices. Additionally, the rising demand for minimally invasive and complication-free operative surgeries is expected to upsurge the demand for ophthalmic devices.

The ophthalmic devices market growth can also be attributed to technological advancements such as the development of intraocular lenses, mydriatic fundus cameras, and OCT devices. Furthermore, the increasing involvement of market players in expanding treatment solutions through strategic alliances is expected to present this market with a potential growth platform. For instance, in May 2016, Bausch & Lomb through its enterprise partnership with Apple and IBM will develop a cataract surgery app that would integrate patient data, calculation data, and records thereby helping cataract surgeons’ work efficiently. The app will be enabled with IBM’s cognitive computing capabilities to reduce surgical errors.

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Further key findings from the study suggest:

  • The vision care segment dominated the product segment of the overall ophthalmic devices market in terms of revenue share at over 78.0%in 2015,owing to its adoption in vision correction procedures and the rising number of initiatives to promote the awareness pertaining to vision care
  • For instance, in April 2016, Alcon announced its support to the “Think About Your Eyes”, which is a public awareness program. Alcon committed USD 4 million to support this initiative to promote the awareness pertaining to vision care
  • The diagnostic& monitoring devices segment is expected to grow at the fastest CAGR at over 7.0% in 2015. This can be attributed to the fact that diagnosis is an indispensable process in the treatment of eye disorders and is responsible for contributing towards the diagnostics & monitoring segment’s growth
  • In 2015, North America dominated the overall ophthalmic devices market at over 36.0%owing to the increasing utilization of ophthalmic devices in hospitals and private clinics. Moreover, subsequent changes in demographic trends, such as a rise in the geriatric population & unhealthy lifestyles, are presumed to drive the market in this region. Moreover, high R&D investments in the development of new products are expected to impel the market growth in North America
  • Asia Pacific is anticipated to be growing at the fastest CAGR of around 7.0% over the forecast period due to the presence of untapped opportunities in the emerging economies in China and India. Moreover, the increasing government initiatives towards healthcare infrastructure; for instance, in China, healthcare reforms through an initiative called New Health Care Reform Plan implemented by the Chinese State Council and the Communist Party of China (CPC) Central Committee is expected to drive growth of the Chinese regional market.
  • Some key players in this market are involved in adopting collaborative strategies and indulge in frequent product approvals to facilitate business and geographical expansions. For instance, in February 2016, Alcon acquired Transcend Medical, Inc., in a probe to expand its business in the treatment of glaucoma. This acquisition added Minimally Invasive Glaucoma Surgical (MIGS) devices to Alcon’s product portfolio.

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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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Neuroprosthetics Market is expected to reach USD 14.6 billion by 2024

The global neuroprosthetics market is expected to reach USD 14.6 billion by 2024, according to a new report by Grand View Research, Inc. The increasing prevalence of neurological disorders coupled with the demand for cost-effective and technologically advanced implants is expected to drive the demand for neuroprosthetics market in the coming years.

In addition, the associated high costs and side effects of conventional medications are responsible for the rising adoption rate of implants. For instance, the increasing adoption of Vagus Nerve Stimulation (VNS) therapy system over therapeutics such as antidepressants in the treatment of Alzheimer’s disease, brain aneurysm, and strokes is propelling the overall market growth.

Moreover, the rising geriatric population prone to epilepsy opting for neural implantation over the conventional medication is exerting a positive effect on the overall industry growth.

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Further key findings from the study suggest:

  • The motor prosthetic devices segment dominated in terms of revenue share and accounted for over 35.0% of the market in 2015, followed by visual cochlear implants. Whereas, retinal neuroprosthetics were identified as one of the fastest growing market segment owing to the rising penetration and the increasing R&D efforts pertaining to product innovation.
  • The Spinal Cord Stimulation (SCS) segment held the largest share at over 55.0% owing to the analgesic property of the SCS therapy used in the treatment of ischemic pain, failed back surgery syndrome, and complex refractory pain syndrome. Furthermore, it finds applications in intraspinal and epidural microstimulation for inducing leg movements. In addition, technological advancements in this segment is expected to further boost market growth in the near future. The sacral Nerve Stimulation (SNS) is expected to be the fastest growing segment over the forecast period due to its applications in chronic intractable pelvic ache and neurogenic bladder.
  • In the applications segment, motor neuron disorders held the largest segment due to the rising incidences of Parkinson’s disease and epilepsy. For instance, as per the report published by Parkinson’s disease Foundation in 2012, approximately 60,000 Americans were diagnosed with Parkinson’s disease each year and the number is expected to grow further over the forecast period thereby fueling this segment’s growth.
  • In 2015, North America dominated the overall neuroprosthetics market at over 43.0% owing to the large presence of neural implants manufacturers, higher R&D investments, and the availability of funds from both government and private institutes. For instance, the Defense Advanced Research Project Agency (DARPA) and National Institute of Neurological Disorders and Stroke (NIH)in collaboration with the federal agencies are instrumental in providing funds to support R&D initiatives for the further development of neural implants.
  • Asia Pacific is anticipated to be the fastest growing segment due to the introduction of multinational healthcare establishments promoting safe and effective medical procedures along with the rising awareness levels amongst consumers
  • Strategic collaborations and mergers & acquisitions are expected to keep the industry rivalry level high over the forecast period

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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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Optical Brighteners Market is expected to reach USD 1.11 billion by 2024

The global optical brighteners market is expected to reach USD 1.11 billion by 2024, according to a new report by Grand View Research, Inc. Rising demand for optical brighteners from various industries including paper, personal laundry, textiles and cosmetics to improve illumination of the finished product is expected to be a principal factor in stimulating growth over the forecast period.

Increasing demand for whitening agents from the paper industry owing to their ability to impart superior brightness is expected to improve product penetration over the forecast period. Paper accounted for 35.8% of the global volume share in 2015. Growing consumer demand for paper from emerging economies including India and China is expected to propel expansion over the forecast period.

Textiles & apparels are one of the major end-uses of optical brighteners and are projected to witness significant growth at a 6.1% CAGR from 2016 to 2024. Increasing competitiveness among textile and garment manufacturers in Asia Pacific on account of high consumer demand has resulted in a significant rise in production volumes. This in turn has made a positive impact on the product demand owing to its ability to impart various shades of white to textiles & apparels which will influence industry expansion over the next few years.

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Further key findings from the study suggest:

  • European optical brighteners market is expected to grow at a CAGR of 6.4% from 2016 to 2024 in terms of volume. Germany, France and Italy are expected to be key markets on account of a positive outlook of the cosmetics industry. Penetration of optical brighteners has increased significantly in personal care products such as soaps and shampoos which have resulted in improving market dynamics of the product in Europe.
  • Asia Pacific is expected to witness the fastest growth over the projected period. Increasing production volumes of textile and paper in India, Thailand and China is likely to propel expansion of the product over the next eight years. The market is predicted to reach a value of USD 312.3 million by 2024. Cost effective production approach of optical brightener manufacturers in the region has been a major incentive for growth.
  • The demand for optical brighteners in consumer products was 59.4 kilo tons in 2015. Various government policies including FDI and “Make in India’’ is expected to drive the Indian paper and textile industries. Rising demand for detergents &soaps in countries including India, China, U.S., and Saudi Arabia will play a significant role in influencing growth over the forecast period.
  • Key industry players include Huntsman International LLC, Archroma, RPM International Inc., Aron Universal Limited, Teh Fong Min International Co., Ltd., Keystone Inc., BASF SE, Deepak Nitrite Limited and 3V Incorporation. Companies in this sector are increasing their production capacities to expand their business presence and gain market share.

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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.

Contact:

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Grand View Research, Inc
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Tele Intensive Care Unit Market is expected to reach USD 5.8 billion by 2024

The global tele-ICU market is expected to reach USD 5.8 billion by 2024, according to a new report by Grand View Research, Inc. The reduction in ICU complications with the implementation of tele-ICU has fostered the demand for tele-ICU systems. The real-time monitoring and alarms systems assist clinicians to avoid vital sign deviations and reduce associated complications.

Tele-ICU enables real-time access to the patients’ health records and increases clinical decision time, improving the overall healthcare delivery. This in turn boosts the demand for the tele-ICU service.

An important advantage associated with the implementation of tele-ICU system is the reduction in the length of the hospital stay. This reduces the overall costs incurred by patients, thus supporting the growth of tele-ICU systems.

Additionally, the rising geriatric population base and the increasing prevalence of chronic conditions, such as cancer, neurological, and other disorders,arefueling the usage of remote intensive care environment. The geriatric population is highly susceptible to these disorders. Monitoring chronic conditions in real time facilitates faster recovery. As the geriatric population is the key target population, the usage rate of tele-ICU market systems is anticipated to catapult over the forecast period.

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Further key findings from the study suggest:

  • Hardware components held a revenue share of around 80.0% in 2015. A greater volume of hardware components along with high associated costs have contributed to their growth in the tele-ICU market.
  • On the other hand, software components are projected to witness a lucrative growth over the forecast period. Upgrading the software periodically helps in increasing the efficiency and supports the increasing demand.
  • The market based on types is divided into intensivist, open, open with consultants, and co-managed. The open with consultant model held a substantial share in 2015. The scarcity of intensivist led to the expansion of the open with consultant model.
  • On the contrary, an intensivist model of care is likely to witness a remunerative growth over the forecast period. The sufficient availability of critical care staff over the forecast period is anticipated to contribute towards this segment’s growth.
  • North America dominated this marketing 2015. Favorable infrastructure, geriatric population, and rising prevalence of chronic disorders governed the growth of tele-ICU service in this region.
  • Asia Pacific is anticipated to witness a sturdy growth over the forecast period. The key factors anticipated for the growth in the Asia Pacific region are economic developments, unmet needs of a large population base, supportive government initiatives to improve healthcare system, and booming electronic device industry
  • Some key vendors of tele-ICU include advanced ICU care, Banner Health, inTouch health, Philips, iMDsoft, UPMC Italy, INTELEICU, Tele ICU, INOVA, and VISICU. Partnerships with hospitals and collaborations with software and hardware vendors are the notable initiatives in this market.
  • For instance, in May 2014, InTouch Health broadened its acute and intensive care offerings by launching the FDA-approved application for iPad. This initiative helped the company to enrich its portfolio in critical care.

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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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HPV Testing And Pap Test Market is expected to reach USD 5.6 billion by 2024

The global Human Papillomavirus (HPV) testing and Pap test market are expected to reach USD 5.6 billion by 2024, according to a new report by Grand View Research Inc.The market is majorly driven by the increasing number of cervical cancer cases, government initiatives, and the heightened awareness amongst women about cervical cancer. For instance, the CDC advocates cervical cancer screening tests for women above the age of 30 as it was found that the cervical cancers are rare in the age group, 20-30 years (2 in 100,000) as compared to the older age groups (16 in 100,000).

In addition to carrying out awareness campaigns, the government and key industrial players are providing funding to universities for the development of enhanced technologies to facilitate effective screening, which would mitigate the incidence of late-stage cervical cancer. In this direction,in April 2014, the FDA approved the use of the HPV DNA test, also referred to as the Cobas HPV test (Roche Molecular Systems), as a primary screening test.

A study conducted by the scientists of Hologic, Inc. and University of Pittsburgh Medical Center hasshownthe importance of combined testing (HPV and Pap) stating that the Paptest identifies cellular abnormalities and the HPV test detects suspicious viruses, hence improving the efficiency and providing the best results that are cost-effective and convenient to the patients.

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Further key findings from the study suggest:

  • The cervical cancer screening segment dominated the market in 2015 owing to the introduction of advanced technologies for the screening and detection of cervical cancer. For instance, in May 2016, Hologic Inc. determined that HPV and Pap co-testing was the most effective in the screening of cervical cancer.
  • The laboratories segment dominated the HAV and Pap test market in 2015 owing to the increased performance in the diagnosis of cervical cancer cases. As per the CDC statistics, approximately 21.7 million tests were performed in the U.S.; hence, the hospitalssegmentis expected to witness a rapid growthin the coming years due to the increasing number of diagnostic tests performed in-house and also the availability of advanced technologies.
  • In 2015, North America held the largest share in terms of revenue owing to the continual introduction ofinnovated technologies to improve patient care and diagnosis. In addition, the high number of positive cases being detected, along with the rising death toll (i.e., 2.6 in 1,00,000), has compelled the government to conduct awareness programmes about the early diagnosis and treatment of cervical cancer, which is a key factor for the large market share.
  • In April 2014, the FDA approved the use of the HPV DNA test, also referred to as the Cobas HPV test. Roche introduced a test that detectsthe DNAsequence of cancer-causing high-risk HPVs. It provides information regarding patients’ risk of developing cervical cancer. The Cobas HPV test is used to specifically identify HPV 16 and HPV 18as well as12 other high-risk HPVs from the cervical cell sample in women older than 25 years of age.
  • Asia Pacific is expected to grow at a high CAGR in the coming years. As per the cancer council, 61% of the Australian women are screened for cervical cancer every two years, out of which around 26% who have been detected through the normal Pap test undergo an early re-screening more often than the recommended two years of interval.
  • Some key players in the market are QiagenN. V., Hologic, Inc., Roche Holding AG, Abbott Laboratories, and Becton, Dickinson and Company. These market players are in the process of introducing tests to change the traditional methods of individual HPV and Pap tests and introduce newer techniques or devices to improve the efficiency and convenience.
  • For instance, in February 2016, Quest acquired Clinical Laboratory Partner’s outreach laboratory service business. This acquisition is expected to provide the patients a broader service network with better quality, affordability, and convenience.

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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.

Contact:

Sherry James
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Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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Smart Syringes Market is expected to reach USD 10.2 billion by 2024

The global smart syringes market is expected to reach USD 10.2 billion in 2024, according to a new report by Grand View Research, Inc. In 2015, Some key factors driving the market include the rise in the patient population, the increasing number of needle stick injuries, and the spread of diseases due to unhygienic injection practices.

The injection practices and healthcare delivery standards are not uniform across the globe. The use of disposable syringes has been strongly advocated by various healthcare organizations across different countries; however, adherence to the patient safety guidelines is not adequately implemented in the LMIC (Low and Middle Income Countries).

As per the WHO records, the re-usage of syringes has boosted the infection cases of Ebola, malaria, Marburg virus, HIV, hepatitis, and other diseases in LMIC; these countries have been suffering with a huge infectious diseases burden due to the high transmission rates of blood-borne virus infections. Increasing awareness regarding the usage of smart syringes with safety mechanisms amongst the patients and the healthcare providers is anticipated to fuel the expansion of the smart syringes market over the forecast period.

As per the data published by the U.S. Occupational Safety and Health Administration (OSHA), nearly 5.6 million workers in the healthcare sector are at a high risk of occupational exposure to blood-borne pathogens, mainly on account of needle stick injuries and other metal injuries. The data also indicates that on an average 1,000 injuries occur per day in the U.S. hospitals, which translates to 385,000 needle stick and other injuries per year.

Some previously reported outbreaks due to the re-use of syringes include the following:

  • In 2007, hepatitis C outbreak in Nevada, U.S.
  • In 2009, more than 400 people were infected with Hepatitis B in Gujarat, India
  • In 2014, a group of more than 200 people (children and adults) living near Battambang, Cambodia, tested positive for HIV

Hence, in order to improve the healthcare outcomes and reduce the burden of infections, the healthcare practitioners and hospitals are expected to adopt the usage of smart syringes, which would significantly boost the smart syringes market over the forecast period.

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Further key findings from the study suggest:

  • In 2015, the auto-disable syringes segment dominated the smart syringes market with revenue of over USD 3.0 billion. The established presence of the auto-disable syringes in the market is one of the crucial reasons for its high share.
  • The passive safety syringes segment is expected to emerge as the fastest growing market during the forecast period
  • North America accounted for the largest share in 2015 on account of very high healthcare standards, the presence of well-developed hospital and primary healthcare networks, high patient awareness, and the rising demand for sophisticated drug delivery techniques.
  • Asia Pacific is identified as the most lucrative market. Increase in the disease burden, the rising population levels, and the growing demand for vaccination are the key market drivers in this region. Furthermore, high investments to improve the patient care services and to curb the risk of needle stick infections are expected to spur the smart syringes market over the forecast period.
  • Some key players of the market include Medtronic Plc (Covidien), Terumo Medical Corporation, Braun Melsungen AG, Unilife Corporation, Becton, Dickinson and Co., Revolutions Medical Corporation, Baxter International, Inc., Retractable Technologies, Inc., and Smiths Group plc.

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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.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: www.grandviewresearch.com

Blood Testing Market is anticipated to reach USD 62.9 billion by 2024

Global blood testing market is anticipated to reach USD 62.9 billion by 2024, according to a new report by Grand View Research, Inc. Growing adoption of testing and screening methodologies that enhance near patient diagnosis through enhanced blood testing that reduce diagnostic turnaround times and lower hospitals stay durations is a major factor expected to provide lucrative growth in demand for the market.

Federal agencies that play a major role in regulation of genetic tests, including Centers for Medicare and Medicaid Services, Food and Drug Administration, and Federal Trade Commission, have also undertaken initiatives expected to further enhance market usage of Clinical Laboratory Improvement Amendments (CLIA) compliant tests in the market. These steps reinforce the goals set by national governments and the medical fraternities to strengthen early diagnostic capabilities across a number of key geographic regions.

Increasing levels of patient awareness that have been witnessed in a number of demographic factions across developed and developing countries alike is another notable factor expected to drive growth. Growing prevalence of chronic diseases such as diabetes that warrant long term disease managementis also a considerable factor attributive of growth potential over the forecast period.

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http://www.grandviewresearch.com/industry-analysis/blood-testing-market

Further key findings from the study suggest:

  • Glucose testing is estimated to be the dominant segment in 2015 owing to the high number of awareness programs carried out by various diabetes management focused associations. Presence of several local and established players in this segment that serve the market with a broad portfolio of point-of-care and portable meters for blood glucose monitoring is another factor reinforcing the dominance of this segment.
  • Market revenue from of lipid panel tests is second only to blood glucose monitoring and their strong market position can be accounted for by higher incidence of cholesterol associated cardiovascular disorders as a consequence of sedentary lifestyle, need for risk analysis of cardiac diseases and screening for probability of congestive heart failure.
  • Glycated hemoglobin (aka A1C) is anticipated to witness relatively faster growth among the market segments over the forecast period owing to associated higher patient convenience, faster turnaround time, higher accuracy and reliability for testing.
  • North America dominated the industry in 2015, with over 40% of total revenue. Technological advancements such as the introduction of miniaturized diagnostic devices rendering rapid and accurate results that have higher market penetration in the region coupled with favorable medical insurance policies enhancing market adoption are attributive for the largest share. Favorable government initiatives and CLIA waiver on POC testing devices are also notable factors estimated drive growth.
  • Asia Pacific is estimated to witnessthe fastest growth over the forecast period owing to presence of high unmet medical needs pertaining to target disease segments such as cardiovascular disorders, prostate cancer, diabetes, liver diseases, hepatotoxicity, and hyperlipedemia.
  • Moreover, constantly improving healthcare expenditure in developing economies and ongoing initiatives taken by key market participants to strengthen their presence in these untapped pockets of the market is expected to drive regional market development through to 2024.
  • Key players operating in this industry includeRoche Diagnostics, Abbott diagnostics, Bio-Rad Laboratories, Becton Dickinson & Company, Alere, Trinity Biotech PLC, BioMerieux SA, Nipro Diagnostics, Biomerica Inc, Siemens Healthcare, and Beckman Coulter.
  • Introduction of the combination plans and other promotion programs by the clinics and laboratories which provide complete analysis of the blood are factors attributive for the projected growth in the coming years
  • These entities are adopting strategies such as collaborations with hospitalsand diagnostic laboratories in order to provide online testing services. Such services include ordering a test online, carrying out the test and submission to the authorized laboratory, and retrieval of the results via e-mail so as to reduce the number of hospital visits.

See More Reports of This Category:
http://www.grandviewresearch.com/industry/clinical-diagnostics

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.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: www.grandviewresearch.com