Neuroprosthetics Market Size, Trends and Forecast 2023

Neuroprosthetics, also known as brain implants or neural implants, have added significant momentum in the past few years due to the massive potential to substitute any injured motor, sensory or cognitive functions. Neuroprosthetic devices improve or replace the function of the central nervous system when implanted in the human body and thus stimulate the function of an organ or organ system that has failed due to disease or injury. It is a brain-computer interface device used to detect and translate neural activity into command sequences for prostheses.

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The primary function of neuroprosthetics is to restore the functionality in patients suffering from loss of motor control such as amyotrophic lateral sclerosis, multiple sclerosis, spinal cord injury, and stroke. These devices are important to enhance the ‘quality-of-life’ of the affected patient population. Neuroprosthetics, as therapeutic modalities, are emerging as a promising opportunity in cases where all usual treatments fail to deliver results to cure the disease condition.

The global Neuroprosthetics market is segmented on the basis of applications, technology, types and geography.Mechanism of action (MOA) of neuroprosthetics differs as per underlying technologies. Hence on the basis of technology neuroprosthetics market is divided into vagus nerve stimulation (VNS), spinal cord stimulation (SCS), deep brain stimulation (DBS) and sacral nerve stimulation (SCS).  Sacral cord stimulation (SCS) is the fastest growing technology segment of neuroprosthetics. Several types of neuroprosthetics have been developed on the basis of application areas. Motor neuroprosthetics help in treatment of motor neuron disorders such as parkinson’s disease, epilepsy, cochlear implants or auditory neuroprosthetics. Retinal implants or visual neuroprosthetics; and cognitive neuroprosthetics help in treatment of alzheimer’s disease, and severe depression and are the fastest growing neuroprosthetics segment, due to increase in growth attribute of improving ‘quality-of-life’ of visually impaired patients. Furthermore, applications such as overactive bladder syndrome, parkinson’s disease and epilepsy are expected to contribute largely to the growth of the overall global neuroprosthetics market.

Geographically, the global neuroprosthetics market is segmented into North America, Europe, Asia Pacific and Rest of the World. North America dominates the neuroprosthetics market due to growth in aging population, and increase in incidence of neurological disorders. Asia Pacific region is expected to display a high growth rate in the forecast period in the global neuroprosthetics market. India and China are the fastest growing markets in the Asia-Pacific region due to increasing awareness about the disease, large pool of patients, improving healthcare infrastructure, and expanding government funding in the region.

Rising prevalence of neurological diseases like traumatic stroke and Parkinson’s disease, brain injury, increase in ageing population, growing awareness about health care, rise in health care expenditure, rapid development of technology, and growing number of initiatives by various government associations and governments are some of the major factors driving growth of the global neuroprosthetics market. Factors such as reimbursement issues, high cost of procedures and adverse effects, however, are known to inhibit the growth of the global neuroprosthetics market. Modern self-charging neural implants that reduce the need for high cost surgery and increased risk to substitute the discharge battery and controlling machinery would help to develop opportunities for the growth of the global neuroprosthetics market.

Some of the key global participants present in the neuroprosthetics market include Cochlear Ltd., Boston Scientific Corporation, Cyberonics, Inc., Medtronic plc, NDI Medical LLC, NeuroPace, Inc., St. Jude Medical, Inc., Nervo Corp., Retina Implant AG, Biomet, Inc., and Sonova .

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Evolving Sophistication in Crime to Create Opportunities for Growth of Global Forensic Technologies Market

Used for the identification, examination, and evaluation of physical evidence gathered from a crime scene, forensic technologies are highly sought in the defense and the homeland security sectors. At an exceptional growth rate of 12.40% during the period from 2013 to 2019, the demand for these technologies are likely to register a strong growth over the next few years. According to Transparency Market Research (TMR), the opportunity in the global market for forensic technologies to expand from US$8.3 bn in 2012 to a value of US$17.6 bn by the end of 2019.

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In this blog post, TMR analysts answer significant queries about the worldwide market for forensic technologies:

What factors will shape the future of the global forensic technologies market?

Predominantly, the escalating crime rate, coupled with the sophistication of crime, has the most prominent influence on the global market for forensic technologies. Over the years, the sophistication of crime has evolved drastically.  The prevalence and supply of illicit drugs have increased to great extent. Nowadays, almost every week, a novel type of illicit drug is synthesized, creating severe issues for experts in the examination of the evidence. Due to this scenario, developers of forensic technologies are being exposed to a whole new set of promising opportunities, which is likely to boost the market substantially in the long run.

On the flip side, the decline in the government expenditure on forensic services in almost all economies will reflect negatively on this market over the next few years. However, the impact of this factor will not be much strong as the demand for these technologies will largely be unaffected in the near future.

Which of the regional market will take the lead in the coming years?

North America, which is the leading contributor to the global market for forensic technologies, will retain its position in the forthcoming years; however, its share in the overall market will decline sharply.

Asia Pacific, on the other hand, will gain significant momentum in the next few years. DNA profiling, specifically, will witness a remarkable rise in the demand over the years to come. The untapped status of this region is alluring key market players, which are increasingly engaging into partnerships, mergers, and acquisitions with local participants.

What are the most favored strategies among leading players?

For business development, leading companies are relying on advancements in technologies. Recently, Bio-Rad, a global leader in forensic technologies, introduced Prime PCR probe assays for quantitative amplification. These new assays are to be utilized in qPCR gene expression analysis for human genomes. With this addition to their product portfolio, the company hopes to expand its client base.

Other prominent players in this market are GE Healthcare Life Sciences, SPEX Forensics, Pyramidal Technologies Ltd., Eurofins Medigenomix Gmbh, LGC Forensics, and NMS Labs Inc.

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Global Segmentation: Stem Cells Market, By Application & Treatment Type 2024

The competitive landscape of the stem cells market is characterized by the rivalry between the leading participants, finds a report recently published by Transparency Market Research (TMR). The top players, namely, STEMCELL Technologies Inc., Advanced Cell Technology Inc., BioTime Inc., Cellular Engineering Technologies Inc., and Cellartis AB are engaged in extensive research activities, which has intensified the rivalry between them. With the increasing technological advancement of products, the competition is likely to intensify further over the next few years.

According to TMR, the worldwide market for stem cells, which reached a value of US$62.2 bn in 2015, is likely to expand at an exponential CAGR of 24.20% between 2012 and 2018 and present a whopping opportunity worth US$119.5 bn by the end of the forecast period. Currently, adult stem cells report a higher demand than other stem cells and will continue to do so over the forecast period. Analysts predict the revenue generated from adult stem cells to reach US$103.8 bn by 2018.

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North America to Continue Leading Demand for Stem Cells

The study also presents an evaluation of the global stem cells market on the geographical basis. North America, Asia, Europe, and the Rest of the World have been identified as the main geographical segments of this market in this report. North America has been leading the demand for stem cells due to the increased prevalence of cardiovascular and neurological disorders in this region.

Over the forecast period, North America is likely to remain dominant and offer an opportunity worth US$71.7 bn by 2012. Asia is also expected to register strong growth in the demand for stem cells due to the swift rise in medical tourism and contract research outsourcing during the forecast period, notes the study.

Growing Awareness Level among Consumers Regarding Benefits of Stem Cells to Boost Demand

“The growing awareness level among consumers regarding the benefits stem cells offer in the treatment of various diseases, such as cancer, is boosting their popularity across the world,” says the author of this study.

Besides this, the rising government support to increase research activities in the field of stem cell has also emerged as an important factor behind the growth of this market. For instance, the surge in the Federal funding for the research of stem cells, after the bans were lifted from embryonic stem cells research in 2009, is likely to boost the market in the U.S. in the coming years. Similarly, the Europe market is expected to be propelled by the increasing involvement of government as well as private organizations to support research activities in stem cells.

Implementation of Stringent Government Norms Regarding Stem Cell Harvesting to Hamper Market’s Growth

While the market is witnessing lucrative growth prospects, the implementation of stringent government norms pertaining to the harvesting of stem cells is projected to limit their application substantially in the near future. Apart from this, treatments that apply stem cells are extremely expensive, which also is projected to hinder their adoption rate over the next few years, reflecting negatively on the overall growth of this market, states the research report.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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Dental Equipment Market to Exhibit 4.70% CAGR between 2012 and 2018 thanks to Booming Dental Tourism

Global Dental Equipment Market: Overview

Dentistry, for the presumption that it seldom is life-threatening, may be considered secondary to several other segments of medical sciences but there is a growing awareness among end-users about clean teeth not only for health but aesthetical reasons. Researchers are continuously working on new technologies in the field of dentistry and hence, the future of the global market for dental equipment looks bright. This research study projects the global dental equipment market, which was valued at US$5.5 bn in 2011, to grow at a CAGR of 4.7% to reach a valuation of US$7.6 bn by 2018.

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Dental Equipment Market: Trends and Opportunities

The market for dental equipment is continuously growing on the back of technological advancements in the field of dentistry. For instance, digital x-rays are now enabling faster results and also contain less radiation than traditional x-rays while VELscope is a special type of light that dentists shine in a patient’s mouth to detect abnormalities. Moreover, products such as Invisalign have given patients the option of practically invisible braces that can gently straighten teeth. Likewise, lasers are now being used to eliminate discomfort in a number of dental procedures.

Another growing trend in the market for dental equipment is the extended use of dentistry in the cosmetic field. This refers to any dental work that improves the appearance of a person’s teeth, gum, and bite. Termed as dental aesthetics, this advancement primarily focuses on improving color, position, alignment, shape, size, and overall appearance of a person’s smile. All of these technological advancements in the field of dentistry, a worldwide aging population, and growing awareness among younger end users augurs well for the future of the dental devices market.

Conversely, the report also notes that the use of refurbished dental equipment and relatively high costs of advanced dental equipment are premier restraint in the market. The levying of taxes on certain classes of dental equipment coupled with the growing awareness about the use of fluoridation to prevent dental decay is also expected to adversely affect the global market for dental equipment.

Global Dental Equipment Market: Region-wise Outlook

North America constitutes the largest market for dental equipment at the global level because of several factors. For example, there is a high prevalence of dental caries among the population of countries such as U.S. and Canada. According to a report by WHO, in North America in 2011, the decayed, missing, and filled teeth (DMFT) count was estimated at 2.35 among children aged 12 years. Moreover, consumers in North America spend a substantial amount of money on cosmetic dental procedures. The American Academy of Cosmetic Dentistry states that people in the U.S. spend approximately US$2.75 bn annually on cosmetic dental procedures.

Europe contributes to a fairly large market for dental equipment as well its share stood at 35% of the global market as of 2011. The report finds that large populations of Asia Pacific will continue to drive the dental equipment market steadily over the forecast period while North America will continue to lead.

Companies Mentioned in the Report

To provide a thorough overview of the competitive landscape, the report profiles some of the prominent names in the global dental equipment market. The entities profiled in this report include: 3M ESPE, A- Dec Inc., Biolase Inc., Carestream Heath, Inc., Danaher Corporation, Dentsply International Inc., GC Corporation, Henry Schein, Inc., Hu- Friedy Mgf Co., Ivoclar Vivadent AG, Midmark Corporation, Patterson Companies Inc., Planmecaoy, Sirona Dental Systems Inc., Noble Biocare, and Straumann. Out of these, the Danaher Corporation accounted for the highest share of the global dental equipment market revenue in 2011 due to the company’s wide-ranging product portfolio.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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North America Molecular Diagnostics Market, by Technology and Application 2019

The global molecular diagnostics market is teeming with large and small players involved in developing molecular diagnostics products. This makes the landscape highly fragmented and the competition stiff. Manufacturers are leveraging different strategies to maintain their foothold in the market. Besides investing in research to bring about product differentiation, they are also resorting to mergers and acquisitions to enhance their positions.

Roche Diagnostics is one of the main players operating in the market. It held a dominant share of 31.0% in the market in 2012 by dint of its wide array of product offerings in the areas of oncology, virology, genomics, women’s health, microbiology, and others. Cutthroat competition, however, is resulting in the loss of its market share. Novartis Diagnostics, which is considered a pioneer in the industry and a leader in the blood donor screening segment, followed in the second position in 2012. Other big names operating in the industry are Hologic, Qiagen, Cepheid, Abbott, etc.

The global market for molecular diagnostics is predicted to be worth US$8.66 bn by 2019, predicts a report by Transparency Market Research.

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Asia Pacific to Clock Maximum Growth Rate due to Prevalence of Chronic Diseases 

Technology-wise, the global market for molecular diagnostics can be segmented into polymerase chain reaction (PCR), transcription mediated amplification (TMA), microarray, hybridization (ISH and FISH), next-generation sequencing, and others. Among them, PCR, which finds application in generating millions of copies of DNA sequence through repeated cycles of heating and cooling, holds sway over the market with maximum share. Its market was worth US$2.08 bn in 2015. However, it is the next generation sequencing segment that is slated to outshine all other segments in terms of growth rate during the forecast period.

The global molecular diagnostics market can be segmented geographically into North America, Asia Pacific, Europe, and the Rest of the World. North America has been the dominant market so far and is predicted to maintain its leading share in the coming years too. The TMR report forecasts the market to reach a value of US$3.51 in 2019. Europe follows North America in terms of market share. Growth rate-wise, however, Asia Pacific is poised to overtake the two dominant regions up until 2019. A host of factors such as rising occurrence of chronic maladies, outbreak of H1N1, burgeoning elderly population, prevalence of hepatitis and HIV, economic development, and rising patient awareness are driving the market in the region.

Cancer one of the Main Drivers of Market

One of the main drivers of the global molecular diagnostics market is the alarming increase in the instances of cancer. The World Health Organization (WHO) predicts that the deadly malady will claim 13.1 billion lives from 2012 to 2030. It also warns that annual cancer cases will increase from 14 million in 2012 to 22 million in the next two decades. This would result in further emphasis on research and discovery of biomarkers to detect different types of cancers and thereby lead to a swift uptake of molecular diagnostics tests. Rise in chronic diseases and a growing geriatric population would also boost the market.

A major market deterrent is unfavorable reimbursement policies. “Insurance companies are refraining from reimbursing molecular diagnostic tests due to lack of appropriate coding system. The erstwhile Obama administration stopped paying bills for molecular diagnostic tests. Molecular tests help screen various biomarkers which aid in diagnosis and act as treatment guide for cancer and other diseases. The cost of these tests typically ranges from US$300 to US$3,000 per test and are considered the most important technologies for early detection,” explains the analyst of the report.

This review is based on the findings of a TMR report titled “Molecular Diagnostics Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019.”

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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Needle-Free Drug Delivery Devices Market: Growing Demand from Asia Pacific to Drive Market at 14.6% CAGR 2013-2019

Transparency Market Research has published a new market report titled, “Needle Free Drug Delivery Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023”. According to the report, the global needle free drug delivery devices market was valued at US$ 5.4 Bn in 2014 and is anticipated to expand at a CAGR of 9.9% from 2015 to 2023 to reach US$ 13.1 Bn in 2023.

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The report provides exhaustive analysis of current and emerging needle free drug delivery devices and the market is estimated based on technologies used in devices and application of various devices. Based on technology, the market has been segmented into jet injectors and competing needle-free technologies. The competing needle-free technologies segment has been sub-segmented into novel needle technology, inhaler technology, and transdermal patch technology.

The jet injectors segment accounted for the largest share of the needle free drug delivery devices market in 2014. Increasing number of needlestick injuries and possible transmission of blood borne pathogens through needle are the major drivers of the jet injectors segment. Additionally, wide range of applications would help increase demand for the technology. The competing needle-free technologies segment is expected to grow at a higher rate during the forecast period owing to high patient compliance and efficient techniques. The novel needle technology sub-segment of the competing needle-free technologies segment accounted for the largest share of the market in 2014. The sub-segment is expected to maintain its leadership position during the forecast period due to accuracy and ease of use. The novel needle technology segment includes micro needles and pen needles that are less invasive. However, the transdermal patch technology segment is likely to witness the highest growth rate during the forecast period from 2015 to 2023 due to availability of different types of commercial transdermal patches, controlled drug delivery, and ability to avoid pre-systemic metabolism. Uses of transdermal patches include sex hormones delivery, pain management, and vaccination.

Based on application, the market has been segmented into vaccine delivery, pain management, insulin delivery, pediatric injections, and other applications. The insulin delivery application segment dominated the global needle free drug delivery devices market due to rising prevalence of diabetes and improvement in compliance with insulin regimen. However, the pediatric injections segment is expected to experience the highest growth during the forecast period from 2015 to 2023. High growth rate of the segment is owing to increasing public awareness, government initiatives for pediatric vaccination, and rising acceptance of novel drug delivery devices for pediatric patients. The pain management application segment accounted for the second largest share of the market in 2014. The segment recorded the second highest growth rate due to rising number of chronic pain sufferers globally. Other applications of needle free drug delivery devices include angina, hypertension, and devices for inducing anesthesia.

The global needle free drug delivery devices market is consolidated, with high competition among the top players. Investment in research and development would help companies to increase their market shares. Zogenix, Inc., 3M, and Antares Pharma, Inc. are the major market players in the needle free drug delivery devices market and dominated the global market in 2014. Other players in the industry include Glide Pharmaceutical Technologies Ltd., Injex Pharma AG, and Pharmajet, Inc. In August 2014, 3M Drug Delivery System Division entered into a new collaboration agreement with Presspart Group (a medical device and pharmaceutical component manufacturer). Under the terms of the agreement, Presspart will sell 3M Dose by Dose Counter and Dose Indicator for a wide range of metered dose inhalers (MDI). The agreement will enable 3M to accelerate the growth of dose counter technology. Hence, collaborations and partnerships for the development and marketing of needle free drug delivery devices by major market players would drive the market during the forecast period from 2015 to 2023.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Fitness Products and Services Market Boosted by Increasing Adoption of Active Lifestyle

Transparency Market Research has compiled a vast database on the industry of medical devices. One of the research reports in the category, titled “Global Fitness Products and Services Market Analysis and Forecast 2014 – 2020,” provides a clear perspective on the market for fitness related products and services. The report assimilates all historical data important to this market and creates a projection for it till 2020.

A major driver for the global fitness products and services market is the increasing level of awareness among consumers regarding the need for an active lifestyle. The past decade has seen a substantial rise in the number of people being attracted towards wanting to live healthier lives, which is directly beneficial to the global fitness products and services market.

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Reports show a high number of individuals – especially in developed economies – being obese. The growing tendency of people leading a sedentary lifestyle has created a large number of medical issues which can easily be mitigated by living more actively. As a result, many consumers are leaning towards the consumption of products and services that help them be more active.

Fitness Products and Services Market

Additional factors that are driving the global fitness products and services market include the large-scale modernization of amenities, rapid urbanization in developing economies, increasing disposable income of consumers, and the availability of gyms and personal coaches. Another factor to be considered is the advent of advanced wireless technology in the global fitness products and services market, which is providing it with the highly demanded enhanced connectivity.

The global fitness products and services market is further benefitted by approvals from international bodies such as the WHO, which stated that it has become essential to consolidate entertainment and health to create a more appealing manner of maintaining personal well-being.

From a geographical perspective, North America leads the global fitness products and services market; however, the market’s future will be the rapidly growing Asia Pacific region.

The key players in the global fitness products and services market are highly diverse as this market comprises multiple categories and sub-segments. The leaders in physical fitness are Body Solid, Inc., Reebok International Ltd., Life Fitness, Inc., Keys Fitness Products LP, and Johnson Health Tech Co. Ltd. The segment of apparel and footwear is dominated by names such as Adidas AG, Puma SE, Nike Inc., ASICS America Corporation, and Fila. Some of the top players in the segment of fitness centers are Gold’s Gym International, Health City, and Fitness International LLC.

The global fitness products and services market also comprises multiple mobile apps created by companies such as MapMyFitness, Inc., FitnessKeeper, Inc., and Endomondo.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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