Nanomedicine Market Worth Is Anticipated To Reach USD 350.8 Billion By 2025

Development of novel nanotechnology-based drugs and therapies is driven by the need to develop therapies that have fewer side effects and that are more cost-effective than traditional therapies, in particular for cancer.

Application of nanotechnology-based contrast reagents for diagnosis and monitoring of the effects of drugs on an unprecedented short timescale is also attributive drive growth in the coming years. Additionally, demand for biodegradable implants with longer lifetimes that enable tissue restoration is anticipated to influence demand.

As per the WHO factsheet, cancer is found to be one of the major causes of mortality and morbidity worldwide, with approximately 14 million new cases in 2012 and 8.2 million cancer-related deaths. Thus, demand for nanomedicine in order to curb such high incidence rate is expected to boost market progress during the forecast period.

Solutions such as nanoformulations with triggered release for tailor-made pharmacokinetics, nanoparticles for local control of tumor in combination with radiotherapy, and functionalized nanoparticles for targeted in-vivo activation of stem cell production are anticipated to drive R&D, consequently resulting in revenue generation in the coming years.

Biopharmaceutical and medical devices companies are actively engaged in development of novel products as demonstrated by the increasingly growing partnerships between leading enterprises and nanomedicine startups. For instance, in November 2015, Ablynx and Novo Nordisk signed a global collaboration and a licensing agreement for development and discovery of innovative drugs with multi-specific nanobodies. This strategic partnership is anticipated to rise the net annual sales of the products uplifting the market growth.

However, in contrary with the applications of nanotechnology, the entire process of lab to market approval is a tedious and expensive one with stringent regulatory evaluation involved thereby leading investors to remain hesitant for investments.

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Further key findings from the report suggest:

• Therapeutics accounted for the largest share of market revenue in 2016 owing to presence of nanoemulsions, nanoformulations, or nanodevices
• These devices possess the ability to cross biological barriers. Moreover, presence of drugs such as Doxil, Abraxane, and Emend is attributive for higher revenue generation
• Presence of substantial number of products manufactured through the use of microbial sources can be attributed for the largest share
• In-vitro diagnostics is expected to witness lucrative progress as a result of R&D carried out in this segment
• Introduction of nano-enabled biomarkers, vectors and contrast agents with high-specificity and sensitivity are attributive for projected progress
• Clinical cardiology is expected to witness the fastest growth through to 2025 owing to development in nano-functionalization and modification of surfaces for increased biocompatibility of implants in treatment of late thrombosis
• Moreover, an abundance of research publications and patent filings from European region with a share of about 25% in nanomedicine-related publications is supportive for revenue generation from European economies
• Asia Pacific is estimated to witness the fastest growth over the forecast period
• Factors responsible include government and regulatory authorities that have implemented a framework to encourage R&D collaborations and framework extension.
• Key players operating in this industry include Pfizer Inc., Ablynx NV, Nanotherapeutics Inc., Nanoviricides Inc., Abraxis Inc., Arrowhead Research Inc., Celgene Corporation, Bio-Gate AG, and Merck
• Active expansion strategies are undertaken by a number of the major market entities in order to strengthen their position

• North America dominated the industry in 2016, accounting for a 42% of total revenue
• Presence of key participants operating in the region are involved in collaborative activities are attributive for the largest share of North America in sector revenue

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Digital Pathology Market Growth Is Expected To Reach USD 979.0 Million By 2025

Increasing prevalence of chronic diseases, which triggers demand for advanced diagnostics, is expected to provide growth opportunities to digital pathology market. Growing economic stability and awareness pertaining to associated benefits with the use of computer-aided diagnostics is further contributing toward the industry growth.

Technological advancements such as digital imaging, computerization, robotic light microscopy, and multiple fiberoptic communications are some of the key factors contributing toward the rising adoption of digital pathology. In addition, introduction of cloud-based technology enabling storage of digital slides coupled with secure access to pathologists is expected to serve this industry as a potential growth driver.

Digital pathology has important role in companion diagnostics and drug development pipeline, including molecular biology, biobanking, molecular tissue profiling, and tissue microarray analysis. Increasing demand for high-quality tissue samples in tissue-based biomarker research is propelling the adoption of this technology over the forecast period.

This market is expected to witness intense competition in near future owing to rising adoption of rigorous strategies by the market players to sustain competition. For instance; manufacturers of whole slide imaging systems are focused on obtaining premarket approval for diagnostic digital systems to capture more revenue share.

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Further key findings from the study suggest:

• Whole slide imaging held the dominant share as of 2016 owing to its increased use in academic research
• Rising implementation of whole slide image scanning in stratified medicine and tissue-based biomarker research is one of the key contributing factors for the dominance of this technology
• Telepathology segment is expected to witness lucrative growth in the near future owing to the benefits associated with its use
• Telepathology offers faster diagnosis and synchronizes patient data, where healthcare professionals can remotely access this information
• Rising demand for accurate & faster diagnosis fosters the demand for static image-based systems that further contributes to the static telepathology system growth 
• Digital pathology has wide applications in academic research owing to various benefits such as cost-effectiveness and rapid results
• The availability of unified platforms for workflows in pathology is anticipated to boost the usage rate of computer-aided imaging technology in academic research, which is anticipated to boost the segment growth.

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Nanoparticles - Metal & Metal Oxides Market Growth In Healthcare Is Anticipated To Reach USD 80.74 Billion By 2025

Several nanotechnologies based medicines have been put forward for approval by the FDA which is anticipated to propel growth.

Success of nanomedicine has prompted the development of enhanced nanomaterials for clinical applications with particular emphasis in therapy and diagnostics. This has resulted into the significant production of metal oxide particles that hold potential utility in human medicine.

Remarkable evolution has been made in nanoparticle based medicines for theranostic applications in disease management. Diverse metals have been used for development of medicines with a promise to optimize the efficacy of nanomedicines and to improve the current standard of medical and clinical practices.

These particles are recognized to have major applications in drug delivery, diagnostic products, biomarker discovery, and product packaging. Widespread application spectrum of these particles in maintaining human health is expected to dramatically impact the progress of this market in the coming years.

Moreover, metal oxides are observed to have significant role in cancer treatment. Nanoparticle-augmented systems enable high-concentration targeted drug delivery to cancer cells, which in turn, is expected to enhance the usage rate of metal nanoparticles for cancer treatment. Development of drug delivery strategies using nanoparticle approaches are expected to bring about changes effective for cancer treatment.

However, prolonged exposure of nanoparticles adversely affects the human health as well environment thereby restraining their adoption rate. These products are involved in autophagy, oxidative stress, lysosome dysfunction, and the activation of certain signaling pathways, thereby exhibiting toxicity for human health.

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Further key findings from the report suggest:

• Presence of untapped potential in alumina and alumina oxide particles is anticipated to create immense opportunities
• Aluminum oxide in combination with polymeric membranes is studied for enhancement of drug delivery owing to its high porosity property displayed in the membranes
• This enhanced efficacy of the membrane performance by the addition of alumina nanoparticles to polymeric membranes is projected to increase its adoption
• Approval of various nanoparticle composition and surface properties for clinical diagnostics and treatment of viral infections is anticipated drive market demand
• In-vivo imaging dominated the market with respect to revenue share
• Use of antibody conjugated to Au nanorods Raman spectrum with polarized, sharpened, and enhanced results can be attributed for larger revenue share
• Oncology dominated over a decade and is projected to sustain its share over the forecast period.
• Rising incidence of cancer and other chronic multi-drug resistant diseases pronounces the demand for these particles.
• Aforementioned factor is anticipated to drive targeted delivery with fastest YoY growth
• Asia Pacific is projected to showcase lucrative progress in the coming years
• Key countries in the region are working to enhance the patient’s reach to nanotechnology-based solutions
• Moreover, continuous support from the government bodies pertaining to initiation of new projects is expected to play crucial role for projected CAGR
• Key players contributing in this market are Pfizer Inc., Brigham Women's Hospital (BWH), Immunolight LLC, nanoComposix, Nanobiotix, Nanospectra Biosciences, Inc, Merck KGaA, and AstraZeneca
• These participants are investing in development of the product portfolio that can target the chronic disorders
• Arrowhead Pharmaceuticals, Cytimmune Sciences, Inc, Nanobiotix, Celgene Corporation, Siteman Center of Cancer Nanotechnology Excellence (Washington University CCNE), and BIND Biosciences are few companies that have products in the pipeline phase.

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Respiratory Diseases Testing Market Worth Is Expected To Reach USD 6.7 Billion By 2025

The market is driven by the rising prevalence of respiratory diseases. As per Forum of International Respiratory Societies, more than 200 million people across the globe suffered from Chronic Obstructive Pulmonary Disease (COPD) and 235 million suffered from asthma in 2014. In addition, the source stated that more than 50 million people struggle with occupational lung diseases annually. Thus, constantly growing target patient population is anticipated to drive the growth.

The adoption of innovative technologies, such as Computed Tomography (CT), for COPD diagnosis is expected to drive the growth. The other new technology in acute medical management of COPD is pulse oximeter that is used for outpatient monitoring.  Airway management plays a main role in testing and management of COPD. Also, with recent technological innovations, there has been a 12.1 % increase in the use of Noninvasive Mechanical Ventilation (NIV) for management of COPD. Along with technological advancements, use of digital radiography (X-ray) and advanced portable spirometers is gaining momentum in the market.

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Further key findings from the study suggest:

• The growing prevalence of COPD and asthma across the globe is expected to increase the demand for respiratory disease testing devices and thereby drive the market growth
• In products, imaging tests held the largest share in 2016 due to rapid development and adoption of innovative technologies
• In respiratory measurement, spirometers, pulse oximeters, ventilators, capnographs, and other noninvasive ventilators used for measurement of lung capacity are expected to grow at a rate of more than 4% over the forecast period
• In end-use, hospitals segment held the largest share in 2016 and is anticipated to grow over the forecast period
• North America the largest market share in 2016. Growing prevalence of respiratory diseases such as COPD, asthma is increasing the demand for respiratory disease testing/diagnostic in North American countries.
• Asia Pacific region is expected to grow at the fastest rate during the forecast period. This growth can be attributed to various factors such as improving health care infrastructure and increasing patient awareness regarding the availability of new diagnostic techniques for respiratory diseases, such as COPD & asthma.
• Some of the major players competing in this market include, but are not limited to, Becton Dickinson (Carefusion Corporation); Koninklijke Philips N.V. (Respironics); ResMed Company; Fischer & Paykel; and Medtronic. These players are strong brands in the market as they have elaborate product portfolios in respiratory disease testing market.

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Global Glycomics/Glycobiology Market Worth Is Expected To Reach USD 2.1 Billion By 2025

Increasing investment in R&D by research institutes and pharmaceutical & biotechnology companies has been a major factor driving market growth. In addition, technological advancement has led to increased demand for advanced glycomics products for drug discovery & development, diagnostics, and oncology research. 

Escalating popularity of personalized medicines for the treatment of several severe chronic diseases and genetic disorders is another major factor contributing toward the growth. Personalized medicines involve the application of glycomics for the study of structure and function of glycans that are attached to biomolecules. Glycans play a crucial role in modulating various biological processes and their assessment can help determine the susceptibility to diseases & response to treatment. Thus, application of glycobiology products is expected to rise in near future, owing to their high potential in personalized medicine.

Untapped opportunities in developing regions, including Asia Pacific and Africa, are another major factor supporting the growth of the glycomics market. Glycomics research is important for comprehensive study of glycomes to understand the cellular signaling pathways, cell functions, genetic structure, and physiological & pathological aspects. Glycomics research has become more popular these days due to its advantages over genomic/proteomic analysis that cannot be used to study many pathological processes. Thus, the demand for advanced glycomics products by researchers and healthcare professionals is expected to fuel the sector growth.

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Further Key Findings From the Report Suggest:

• Enzymes segment is the fastest growing segment of the glycobiology market in 2016, due to its huge application in research & diagnostics and repetitive purchase of these products
• In the application segment, drug discovery & development accounted for the largest revenue share in 2016, owing to the growing focus on novel drug development and demand for personalized medicines
• The academic and research institutes dominated in terms of revenue in 2016, owing to the large focus on glycobiology research and proteomics study
• The North America glycobiology market is the leading regional sector and expected to dominate the market during forecast period
• Existence of large number of research laboratories, pharmaceutical companies, and biotechnology companies in North America region is the major reason for the high demand for glycobiology products in this region
• The Asia Pacific glycobiology market is expected to grow at the highest growth rate during the forecast period
• Some of the major players include Danaher; ProZyme; Shimadzu Corporation; Agilent Technologies; Bruker; Merck KGaA; Takara Bio, Inc.; New England Biolabs; ThermoFisher Scientific, Inc.; and Waters Corporation.

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Global Protein Engineering Market Growth Is Expected To Reach USD 3.09 Billion By 2025

The market is driven by presence of regulatory authorities consistently striving to reduce time and cost involved in the drug discovery process. One such example is the launch of critical path initiative by U.S. FDA, for incorporation of advanced technologies, such as protein engineering, in drug discovery processes. Moreover, this facilitates prediction of probable adverse reactions & toxicity and improves efficacy of target molecules early on, resulting in lowered drug attrition rates in the later stages. This is anticipated to help control overall expenditure. Rise in R&D expenditure by countries indicates the urgent need for adoption of these tools in all drug discovery and development processes. 

The rising number of government initiatives aimed at enhancing protein engineering capabilities is anticipated to present the market with high growth potential. This has resulted in a significant rise in number of research activities & programs and fund allotment for R&D. For instance, Protein Engineering Network of Centres of Excellence (PENCE) contributed approximately USD 1.0 million for proteomics projects and hosted conferences on proteomics in Canada as an effort to broaden research associated with this technology.

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Further Key Findings From the Report Suggest:

• Hybrid approach is predicted to observe exponential growth as a consequence of technological superiority and ability to overcome the shortcomings associated with the aforementioned technologies
• Software & services is expected to emerge as the fastest growing segment owing to high inclination of companies to outsourcing of services to achieve overall cost-efficiency
• Monoclonal antibodies held the largest share in protein-type segment due to development of these antibodies on a large scale through extensive adoption of these engineering tools
• North America held a substantial share, which can be attributed to extensive research activities that are likely to provide high potential growth platform through consistent usage in this region
• The market in Asia Pacific is projected to exhibit exponential growth over the coming years owing to rising awareness pertaining to benefits of protein engineering and increasing disposable income
• The competition is marked by players employing strategies such as mergers & acquisitions and distribution agreements resulting in significant growth in their market share

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Endoscopic Vessel Harvesting Systems Market Growth Is Expected To Reach USD 3.4 Billion By 2025

Growing inclination of the patient population toward minimally invasive cardiac surgeries is one of the key factors expected to drive the market in the coming few years.

The introduction of endoscopic vessel harvesting technology in the field of cardiac surgery was a significant milestone in 1996. According to estimates by the Texas Heart Institute, every year over 200,000 procedures were performed in the U.S. Also, based on the statistics published by the department of surgery (Washington University School of Medicine in St. Louis), they perform Coronary Artery Bypass Grafting (CABG) surgeries on approximately 0.5 million people very year. The growing demand for these procedures and technologically advanced surgical procedures are among few factors anticipated to boost the market over the forecast period.

The presence of favorable reimbursement policies in the U.S. pertaining to CABG surgeries is anticipated to increase the number these surgeries. On July 2016, the Department of Health & Human Services announced that it will begin implementing bundled payment models for high-quality, coordinated cardiac and hip fracture care. The market is highly concentrated with a limited number of products and market players operating in this space. Many studies stated that the open vessels harvesting technique is as effective as minimally invasive vessels harvesting technique. However, the growing awareness regarding benefits of Endoscopic Vessels Harvesting (EVH), such as minimally invasive nature, less complications, and quick recuperation are some of the factors that are anticipated to propel its growth during the forecast period.

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Further Key Findings From the Report Suggest:

• The global endoscopic vessel harvesting system market size was estimated at USD 1,881.7 million in 2016 and is expected to grow at a CAGR of 6.1% from 2017 to 2025
• Reusable EVH systems emerged as the largest product segment in 2015 and is estimated to generate revenue over USD 2,136.0 million by 2025
• Global disposable EVH systems was USD 639.3 million in 2016 and is anticipated to witness fastest growth over the next 8 years
• The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to various developments across major economies in the region. The regional market is expected to grow at a CAGR of 7.7% from 2017 to 2025
• Some of the key players including MAQUET Holding B.V. & Co. KG; CARDIO MEDICAL GmbH; Terumo Cardiovascular Group; Med Europe S.r.l. (Elite Life Care); LivaNova plc. (Sorin and Cyberonics); and Saphena Medical, Inc. dominated the global endoscopic vessels harvesting systems market. 

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Ophthalmic Lasers Market Opportunity And Their Growth Is Anticipated To Reach USD 1.6 Billion By 2025

Ophthalmic disorders are rising significantly on a global level. This rise in the prevalence rate has led to high growth of ophthalmic lasers market.

According to American Academy of Ophthalmology 2014 statistics, nearly 4.2 million people in the U.S. are visually impaired. Huge number of people suffering from visual impairment are likely to heighten the demand for ophthalmic lasers in the coming years.

Vision loss is a serious problem among people suffering from glaucoma, cataract, age-related macular degeneration (AMD), and diabetic retinopathy. This commonly occurs among the geriatric population. American Academy of Ophthalmology stated that, around 1.3 million U.S. population are blind. Hence, in order to minimize such huge rate of vision loss, there is a high need for the application of ophthalmic laser technology.

Geriatric population are the primary target for the market. Majority of the chronic ophthalmic disorders, for instance, cataract and AMD occur among this group of population. However, refractive errors are also very common among the young people. Thus, growing number of victims of chronic eye diseases has led to an expected growth of the market.

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Further key findings from the study suggest:

• In 2016, femtosecond lasers dominated the market due to rising prevalence of refractive errors among both geriatric and young population
• Amongst the application segment, refractive error corrections held the largest market share in 2016 due to large number of surgeries conducted for refractive errors
• Cataract removal is anticipated to show lucrative growth over the forecast period owing to the rising prevalence of cataract removal surgeries among the geriatric people
• In 2016, hospitals contributed towards the largest revenue share owing to the emergence of large number of hospitals in developing economies
• North America dominated the market in 2016 due to rising prevalence of ophthalmic disorders in this region
• Asia Pacific is expected to show lucrative growth over the forecast period owing to the increase in awareness levels among people in developing countries about various treatments for chronic eye disorders
• Few major companies include Carl Zeiss Meditec AG, Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Ellex Medical Lasers Limited, Lumenis, and Bausch & Lomb Incorporated.

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Pharmaceutical Filtration Market Growth Is Expected To Reach USD 37.3 Billion By The Year 2025

The global pharmaceutical filtration market is expected to reach USD 37.3 billion by the year 2025 growing at a CAGR of 12.1%, according to a new report by Grand View Research, Inc. The growing expansion of the biopharmaceutical industry have resulted in enormous growth of the market with new and more enhanced technologies being used to cater to the need of drug manufacturers. Increasing demand for therapeutic biopharmaceuticals such as antibodies,hormones, and vaccines is a major factor that drives growth of the market during forecast period. Thus, many pharmaceuticals and biotechnology companies have begun to focus on the development of advanced biologics for the treatment of severe chronic diseases including cancer, heart disease, and rheumatic arthritis. 

Increasing investment in the R&D by pharmaceutical and biotechnology companies is another major factor supporting the growth of the sector. Technological advancements in filtration products is also expected to propel their adoption in manufacturing and research of biopharmaceuticals and other drugs. The technological advanced filters including membrane, pre-filters & depth media, and cartridges & capsules filters provide high reliability and efficiency during drug manufacturing process.

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Further Key Findings From The Report Suggest:

• Microfiltration is the fastest growing technique amongst others owing to its large application in generic and biopharmaceutical drug productions
• Final product processing was the largest revenue-grossing as well as fastest growing segment of the pharmaceutical filtration market, due to increase in number of companies engaged in pharmaceuticals and biologics production
• Membrane filters held the largest revenue share in the overall sector, which is attributed by its high usage in production, research, environmental testing, and other applications in the pharmaceutical industry
• MCE membrane filters accounted for the largest share in the membrane filters segment, due to its product advancement
• The manufacturing scale dominated the market in terms of revenue in 2016 owing to the increasing production of generic drugs and biopharmaceutical products
• North America is the leading regional sector, which is accounted for the largest revenue share of the overall market in 2016, because of the presence of large number of pharmaceutical, biopharmaceutical, and biotechnology companies in this region
• The Asia Pacific region is expected to grow at a highest CAGR during the forecast period due to escalating presence of drug manufacturers in the developing countries such as China and India
• Some of the major players include Eaton Corporation Plc; GE Healthcare, Parker Hannifin Corporation; Merck KGaA; Danaher Corporation, 3M; Amazon Filters Ltd.; Sartorius Stedim Biotech S.A.; Graver Technologies, LLC; and Meissner Filtration Products, Inc.  

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Craniomaxillofacial (CMF) Devices Market Growth Is Expected To Reach USD 2.68 Billion By 2025

Increasing incidences of facial fractures and demand for minimally invasive surgery for reconstruction are expected to drive the CMF devices market over the forecast period. The associated benefits with minimally invasive reconstructive surgeries such as faster recovery, minimal incision to the body, and less complications associated with the surgery are anticipated to contribute further toward the market growth. 

The introduction of technologically advanced procedures such as robotic arm assisted CMF surgery and bioabsorbable implants for cranial fixation are expected to drive the demand for CMF systems. The advancement such as amplified use of virtual plating technology and development of cost effective thoracic fixation devices are attributing toward the rising demand.

The market is competitive in nature as the manufacturers are involved in new product development strategies to increase their market penetration. Also, the companies are entering into collaborations and research alliance with other market players to increase their product portfolio. Various software and virtual three-dimensional (3D) technologies are adopted by companies to gain competitive advantage. For instance, the introduction of technologically advanced 3D printing allows manufacturers to integrate materials from both facial and cranial reconstruction is expected to gain popularity in coming years.

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Further Key Findings From the Study Suggest:

• CMF plate and screw fixation dominated the product segment of CMF devices as of 2016, owing to increasing number of CMF trauma and reconstruction procedures which are non-elective
• Temporomandibular joint (TMJ) replacement product segment is expected to show lucrative growth over the forecast period
• Metallic implants held the largest revenue share owing to the advantage associated with it, such as less corrosive nature and provide rigid support to the fixators
• CMF devices find the largest application in neurosurgery owing to increasing CMF procedures in the oncology and neurovascular surgery treatments
• Asia Pacific region is anticipated to register rapid growth in coming years owing to the presence of high unmet needs coupled with increasing patient awareness levels and improving healthcare infrastructure
• Three-dimensional printing allow integration of new material for reconstruction and cranial surgery, this attracts more manufacturers for the investments in R&D for the development of advanced products
• Key players operating in this market include Johnson & Johnson (DePuy Synthes), Medtronic Inc., and Zimmer-Biomet Inc. which make the entry for small organizations difficult
• Moreover, stringent norms for product approval and post-approval performance monitoring which are regulated by authorities such as the U.S. FDA and American Academy of implant may act as a threat for new participants

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Joint Reconstruction Devices Market Growth Is Expected To Reach USD 30.4 Billion By 2025

High adoption of minimally invasive surgeries across the globe has given rise to technological advancement in surgical devices and procedures. In addition, growing prevalence of joint-related conditions and changing therapeutic approaches are expected to boost the market growth.

The joint reconstruction devices market is largely dependent on technological development. Ongoing studies on improving robotically-assisted surgeries and bionic implants are expected to play a pivotal role in the development of total joint replacement surgeries market. These advancements are expected to help in complex surgeries to improve success rate of these procedures and increase patient convenience.

A major share of the joint reconstruction market is captured by large joints. Knee and hip joint reconstruction together captured more than half of the revenue share in 2016. The prevalence of conditions related to these two joints is higher as compared to other joints due to overuse. Treatment of conditions related to these joints is crucial to recover the mobility of patients. Thus, a significant amount of funds are invested in R&D of large joint reconstruction techniques.

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Further key findings from the report suggest:

• Joint replacement techniques captured the largest share in 2016 and is expected to maintain dominance throughout the forecast period. High procedural volume and high price of implants are anticipated to drive growth.
• Development of operating techniques, allografts, and synthetic bone grafts are expected to boost growth of the bone graft segment. The segment is further divided into allograft and synthetic sub-segments.
• The knee segment is expected to dominate the market throughout the forecast period. Availability of a large number of treatment options and introduction of innovative surgical techniques are expected to drive the growth of the segment.
• Developing economies, increased foreign direct investment, rising demand, and emergence of local players are factors that are expected to render fastest growth in the Asia Pacific region.
• Key players of the market include Medtronic; Nuvasive, Inc.; Zimmer Biomet; Stryker; DePuy Synthes; Aesculap Implant Systems, LLC; Smith and Nephew; CONMED Corporation; and DJO Global, Inc.

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Photomedicine Devices And Technologies Market Growth is Expected To Reach A Value Of USD 470.8 Million By 2024

The global photomedicine devices and technologies market was valued at USD 314.9 million in 2015 and is expected to reach a value of USD 470.8 million by 2024. Growing demand for minimally invasive aesthetic procedures is a key contributing factor toward the flourishing market growth. Rising concern amongst the youth regarding their physical and aesthetic appearance is a crucial factor responsible for this growth.

Moreover, benefits associated with the use of laser surgery, such as less recovery time, painless procedure, cost efficiency, and shorter length of hospital stay, are the factors expected to fuel the demand for minimally invasive aesthetic surgeries over the forecast period.

According to the report published by the American society of plastic surgeons, the total number of minimally invasive cosmetic procedures was 13,945,388 in 2014 and is expected to grow by 4% every year. Whereas, the number of procedures in the UK was 50,122 in 2013, which represents a growth of 17% as compared to the previous year. This represents the emergence of the laser-based cosmetic procedures, which in turn is expected to continue boosting the demand for photomedicine devices in the coming years.

In addition, higher adoption of laser surgery in vision correction, body contouring, and in cancer treatment are anticipated to drive the sector growth over the forecast period.

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Further Key Findings from the Study Suggest:

• Oncology segment is expected to show lucrative growth in the near future due to the increasing global cancer incidence and government funding related to cancer research. In addition, the introduction of various photomedicine technologies in cancer treatment such as photodynamic therapy (PDT), immuno PDT, and fluorescence-guided surgery are anticipated to boost the usage rates in the coming years
• Dichroic lamps are expected to gain popularity in the next 7 years due to their increasing medical application, such as their use in illuminating the organs during endoscopy. On the other hand, laser surgery is anticipated to show substantial growth during the forecast period due to its increasing adoption by healthcare professionals and the growing awareness levels amongst the end users regarding the merits of laser use in surgeries
• For instance, miniature lasers and light emitting diodes, made up of biocompatible materials are used in optical sensing & therapy. Furthermore, the evolution of optogenetics has led to the development of highly efficient photonic devices with better level of integration achieved through neurological circuits thus enabling enhanced optical communication, which offer health monitoring and light activated in vivo therapies for disease treatment
• Asia Pacific photomedicine devices market is anticipated to show lucrative growth during the forecast period. Increasing demand for minimally invasive aesthetic procedures, soaring geriatric population, ongoing cancer research, and the increasing healthcare spending are contributing toward the highest regional growth 
• The photomedicine devices market is oligopolistic in nature and is dominated by players such as Colorado Skin & Vein, THOR Photomedicine Ltd., Lumenis, QBMI Photomedicine, Alma Lasers Ltd., AngioDynamics, and PhotoMedex, Inc. Market players are focusing on strategies such as updating current products, product launches, acquisitions, and distribution agreements
• For example, in May 2014, Spectranetics announced the acquisition of AngioScore, Inc., for USD 230 million. This acquisition led to the expansion of the sales & distribution network of the company and the expansion of the company’s addressable market

Reference Link: https://goo.gl/E0g6bx