Strategic Analysis of the Global Pharmaceutical Contract Manufacturing Industry

The global pharmaceutical contract manufacturing/contract research market is anticipated to reach USD 238.3 billion by 2025, according to a new report by Grand View Research, Inc. Impact on the volume of capacity that is required for production due to of increasing expression levels is anticipated to influence outsourcing industry. Increased cell densities as well as increase in expression of each cell has led to the steady decline in the volume requirement. The aforementioned fact provides the client with choices for in selection from several CMOs, which was not the fact earlier. 

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The focus of large pharmaceutical companies to strategically engage with a small number of preferred providers is a meaningful departure from the procurement-based outsourcing. This was one of the many approaches that the service industry had become accustomed to.

Expanding market for biosimilars and biobetters is anticipated to pronounce the demand for contract development and manufacturing support. Service providers that hold the potential of providing cost as well as quality advantages are set to make inroads and grow at tremendous pace in the forecast period.

However, as drug manufacturers are increasing the investments with respect to production capabilities. This may limit the potential growth of contract manufacturing services to traditional customers thereby hampering industrial growth.

Further Key Findings from the Report Suggest:

• Contract manufacturing services estimated to dominate the market over research services
• These services are segmented on the basis of development of different forms of formulations. Active Pharmaceutical Ingredient (API) / Bulk drugs registered the largest share of revenue.
• Pharmaceutical companies prefer the outsourcing services for API research and manufacture
• Factors supportive for this trend includes reduction in the cost of production of APIs
• Active molecules from small companies are always acquired by the big pharmaceutical companies
• The prominent entities focus on marketing rather than core competencies of production of API in order to maintain presence
• Finished dose formulations are expected to register the fastest growth in the coming years
• Contract research services for oncology dominated the market and are anticipated to maintain the dominance in the coming years
• CMOs/CDMOs with the ability to establish facilities in emerging countries are expected to drive growth
• Companies can position themselves for strong growth, given that demand is expected to expand rapidly in the coming years
• The major countries include Brazil. Russia, India, and China as the contract service sector is in its infancy in these regions
• Key players contributing in this market are AbbVie Contract Manufacturing, Catalent, Grifols International, S.A., Baxter BioPharma Solutions, Boehringer Ingelheim Biopharmaceuticals Gmbh, Dalton Pharma Services, and Patheon.
• Companies are engaged in lifecycle management of small-molecule drugs through the development of modified generics with uniquely enhanced properties

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Air Ambulance Services Market Global Analysis, Opportunities and Forecast To 2025

The global air ambulance services market is expected to reach USD 8.2 billion by 2025, according to a new report by Grand View Research, Inc. Increasing incidents of life-threatening diseases, such as cardiovascular disorders, that require emergency medical response support the lucrative growth of the market over the forecast period. In addition, increasing awareness about air medical transport services also spurs growth of this market. Furthermore, Availability of reimbursement in developed countries, such as the U.S., helps people avail these services despite the high cost.

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Improving global economy led to increased spending, which resulted in increased spending on healthcare. The per capita healthcare expenditure has increased exponentially over the last couple of decades. This per capita health expenditure increased by about 55.0% from 1996 to 2014 as published by The World Bank Group. As a result, the demand for these services has been increasing over the forecast period.

This industry is capital intensive, yet there exhibits constant entry of new players, which has helped maintain the supply-demand balance in fierce market place. For instance, in 2012 there were more than 300 players operating in this space with around 1,300 aircrafts, and this number is likely to increase over the forecast period.

Further key findings from the study suggest:

• Rotary-wing air ambulance services, which include helicopter-based services, held a lucrative share in 2015. Easy usability of helicopters and low cost of these services governed their dominance.
• Fixed-wing services include specialized aircrafts having medical facilities and dedicated crew. Rising medical tourism and operability of these aircrafts in adverse weather conditions are few reasons for their increased demand.
• Hospital based service dominated service model segment in 2015 and also anticipated to grow at healthy rate over the forecasts period.
• North America dominated the global air ambulance market in 2016 due to established infrastructure for air medical transport.
• Asia Pacific is anticipated to gain lucrative share over the forecast period. Strengthening economy, especially of countries such as India and China, investments from global conglomerates, and improving business opportunities are likely to provide growth avenues for players.
• Some of the key players in this vertical include AMR; PHI Air Medical; Scandinavian Air Ambulance; IAS Medical; Express AirMed Transport; Native American Air Ambulance; Lifeguard Air Ambulance, REVA Air Ambulance and Acadian.
• Strategic initiatives undertaken by these players include collaboration, service portfolio expansion, and partnerships with business firms & sports and entertainment events.

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Global Breast Imaging Devices Market Trends, Designs, Growth Factors & Applications

The global breast imaging market is expected to reach USD 7.3 billion by 2024, according to a new report by Grand View Research, Inc. The increasing incidences of breast cancer coupled with the continual product improvements being launched and the numerous R&D innovation initiatives being undertaken in the field of cancer are expected to collectively boost the growth of the market over the forecast period.

In 2012, the WHO estimated that around 53.0% of the global women population (1.8 billion women) is anticipated to suffer from breast cancer over their lifespan. This alarmingly rising rate is expected to be the preliminary driver for this market over the forecast period.

The rising base of the geriatric population is another high impact rendering driver of the breast imaging market. A study by the NCBI (National Center for Biotechnology Information) stated that the incidence of breast cancer is higher in patients above the age group of 45.

Increasing expenditure on R&D coupled with government funding are the other vital factors expected to trigger market growth over the forecast period. In 2013, the National Institute of Health, in the U.S. provided a grant amounting to USD 5.6 billion to conduct research on breast cancer. Digital mammography is one of the technologies gaining popularity as compared to other technologies, which is expected to positively reinforce this market’s growth.

However, the high cost of the existing imaging systems coupled with the stringent regulatory policies governing the approval of new products and marketing are predicted to slowdown growth.

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Further key findings from the study suggest:

• The 3D tomosynthesis segment is identified as the fastest growing segment. This technology offers enhanced efficiency and higher diagnostic accuracy in comparison to other available technologies, which is expected to aid market growth.
• North America is likely to dominate throughout the forecast period with a revenue share of over 30.0% by 2024.Government initiatives including the precision medicine initiative, started by President Obama in 2015, promotes the development of personalized medicine, which is anticipated to foster market growth.
• Asia Pacific is anticipated to grow at the fastest rate of12.0% over the forecast period. The Increasing number of investments in the healthcare sector coupled with the rising awareness of breast cancer and other associated conditions is anticipated to propel the market growth in this region.
• Some major players of the market are Siemens Healthcare, GE Healthcare, Dilon Technologies, Inc., Hologic, Inc., Gamma Medica, Inc., Fujifilm Holdings Corporation, SonoCine, Inc., Philips Healthcare, Toshiba Corporation, and Aurora Imaging Technology, Inc.
• In order to gain a competitive advantage in the market, the key industry players are adhering to mergers, acquisitions and collaborative agreements. For instance, in January 2016, Gamma Medica, Inc. entered into a contract with Alpha Imaging Technology Corp. for the commercialization of its new product, Luma GEM.

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Complementary & alternative medicine market is expected to generate a revenue of USD 196.87 billion by 2025

Factors such as the increase in adoption of alternative medicine by people combined with the government initiatives of a number of key countries to enhance reach is expected to help in expansion revenue generation avenues.

Complementary and alternative forms of therapy are used in the treatment of chronic ailments, long-term pain among others and are also used for additional vitamins and other dietary supplementation of regular diet. Moreover, with considerable increase in the costs of conventional medicine and inclination towards body wellness rather than pharmaceutical cure is likely to boost the market over the forecast period. 

As of early 2016, approximately two thirds of the population in most of the developed and developing countries have reported using one or the other form of alternative or complementary form of medicine. There are certain countries that are moving towards the legalization of some alternative medicine therapies that are being backed with approved clinical data.

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Further key findings from the report suggest:

• The market is driven by high adoption rates of herbal dietary supplements other wellness therapies like yoga, acupuncture
• Usage of botanicals has become the most prominent form of alternative medicine as the segment was observed to account for generation of the largest share of revenue
• Europe and the Asia Pacific regions emerge as clear hotspots for these forms of therapies and combine to generate the major share of market revenue
• Developing regions such as Latin America and Middle East Asia are set to witness considerable growth in demand over the forecast period driven by the expensive nature of conventional medicine and lack thereof is certain countries
• Some of the key players and wellness institutes active in the market are Pacific Nutritional Inc, Herb Pharm, Herbal Hills, Helio USA Inc, Deepure Plus, Nordic Naturals, Pure encapsulations, Inc., and other wellness institutes like Iyengar Yoga Institute, John Schumacher’s Unity Woods Yoga Center, Yoga Tree, The Healing Company and Quantum Touch Inc.

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Rising prevalence of chronic diseases such as cardiac and neurological disorders is expected to be the major factor driving the electroceuticals/bioelectric medicine market growth

The global electroceuticals/bioelectric medicine market is expected to reach USD 35.5 billion by 2025, according to a new report by Grand View Research, Inc. Rising geriatric population is the major factor that is expected to propel growth during the forecast period. Aging population is prone to various diseases such as cardiac arrhythmias, Parkinson's disease, Alzheimer's disease, epilepsy, and depression. There are various advanced electroceuticals including implantable cardioverter defibrillators, cochlear implants, cardiac pacemakers, and spinal cord stimulators, which can be used for the treatment of these conditions. 

Increasing investment in the development of advanced bioelectric medicine is another major factor supporting the growth of the electroceuticals market. For instance, in FY 2016, Medtronic, a leading bioelectric medicine manufacturer, invested around USD 2,224 million in R&D for development of advanced products. Technological advancements in these products propel their adoption in treatment of chronic diseases such as cardiac arrhythmias and Parkinson's disease. The technological advanced electroceuticals provide high reliability and efficiency during treatment.

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Further Key Findings From The Report Suggest:

• Implantable cardioverter defibrillators segment was the largest revenue-generating segment of the electroceuticals market in 2016 owing to large application of these products for the treatment of arrhythmia
• The implantable electroceuticals devices segment accounted for the largest revenue share in the bioelectric medicine market in 2016 owing to technological advancements
• In the application segment, the arrhythmia segment accounted for the largest share in 2016 and is expected to maintain its dominance throughout forecast period
• The hospitals dominated the electroceuticals market in terms of revenue in 2016 due to the escalating number of electroceutical devices implant procedures in hospitals
• The North America bioelectric medicine market is the leading regional sector and accounted for the largest revenue share in 2016 mainly due to the existence of large number of medical devices companies in this region
• The Asia Pacific region is expected to grow at a highest growth rate during the study period. The developing healthcare infrastructure and rising healthcare awareness in the Asian countries such as China and India is a major factor contributing to the growth in this region
• Some of the major players include Medtronic; St. Jude Medical; Boston Scientific Corporation; Cochlear Ltd.; Sonova; LivaNova PLC; Biotronik; Nevro Corp.; SECOND SIGHT; and electroCore LLC. 

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Reasons Why You Should Invest In Oncology Based In-vivo CRO Market

The global oncology based in-vivo CRO market is expected to reach USD 1.5 billion by 2025, according to a new report by Grand View Research, Inc. The use of Contract Research Organization (CRO) oncology services helps the manufacturers/sponsors to provide complete attention on the production capacity and at enhancing their in-house processes.

Furthermore, the pressure from the increasing competition due to patent expirations, rapid growth of generics, and introduction of biosimilar equivalents are propelling the pharmaceutical companies to take the aid of such organizations. Hence, it can be predicted that the oncology based in-vivo CRO market may witness lucrative growth over the forecast period.

Another factor propelling growth is the increasing incidence of cancer, and high failure rate of existing treatment options. According to statistics published by the World Health Organization (WHO), approximately 8.2 million deaths are recorded each year from cancer, which accounts for 13.0% deaths worldwide.

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Further key findings from the study suggest:

• Based on indication, solid tumors are expected to dominate the market as of 2016. Furthermore, it is anticipated to grow at the fastest CAGR owing to the factors such as growing incidence rate, augmenting research for tumors in organs such as breast, and liver, and technological advancement offered by key industry players.
• Solid tumors are analyzed by means of models such as xenograft, Patient Derived Xenografts (PDX), and syngeneic. The PDX models are expected to witness lucrative growth over the forecast period and capture over 40.0% of the market share by 2025.
• Geographic expansion into Asia Pacific countries by well-established players is anticipated to promote the fastest growth for the region. India is one the most lucrative country owing to presence of service tax exemption and venture capital based funding for CROs.
• Few of the industry players for the oncology based in-vivo CRO market are The Jackson Laboratory, Covance, Taconic Biosciences, Charles River Laboratory, EVOTEC, Wuxi AppTec, and ICON Plc.
• A common trend observed is the rising partnerships among CROs to offer bundle packages of services to sponsors. For instance, In May 2017, CRL International, Inc. announced their partnership with OcellO, established in Netherlands. According to this partnership, CRL would be utilizing the latter’s PDX model capabilities in order to expand their oncology based drug discovery service portfolio.

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Increasing demand for therapeutic drugs including pharmaceuticals, biopharmaceuticals, and biologics is the major factor to grow pyrogen testing market

The global pyrogen testing market is expected to reach a value of USD 1.9 billion by 2025, according to a new report by Grand View Research, Inc. Increasing demand for therapeutic drugs including pharmaceuticals, biopharmaceuticals, and biologics is the major factor that propels growth of the market during forecast period. Pyrogen is a toxic molecular substance that causes fever if induced in animal or human body. Pyrogen testing is used by pharmaceutical, biopharmaceuticals, biotechnology, and medical devices companies to confirm the absence of pyrogen. Thus, the companies use various methods such as LAL, in vitro pyrogen, and rabbit test to ensure the quality of products.

Increasing prevalence of chronic diseases, is another foremost factor supporting the growth of the pyrogen testing market. The prevalence of chronic diseases is very high in developed countries and is growing at high pace in developing countries including China and India. Different factors such as unhealthy diet, smoking, alcohol consumption, and lack of exercise leads to occurrence of chronic diseases such as cancer, cardiovascular diseases, diabetes, and chronic respiratory diseases.  Hence, there is a growing demand for therapeutic drugs and medical devices for the treatment of such diseases, which in turn is projected to fuel the demand for pyrogen testing to ensure the quality of products including drugs and devices.

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Further key findings from the study suggest:

• Consumables was the largest revenue grossing segment of the pyrogen testing market in 2016, owing to the large application of pyrogen testing kits and reagents along with its repetitive purchase
• Instruments segment accounted for the remarkable share in the market in 2016 and is also expected to showcase significant growth during forecast period, owing to rising demand for pharmaceutical, biologics, and medical devices for treatment and diagnosis
• The pharmaceutical and biotechnology companies segment dominated the pyrogen testing market in terms of revenue in 2016, due to the large production of therapeutic drugs and growing investment in R&D by companies for drug development
• North America is the leading regional market and accounted for the largest revenue share in 2016 primarily due to the existence of large number of healthcare companies including pharmaceuticals and medical devices in this region
• The Asia Pacific region is anticipated to be the fastest growing market during the study period. The growing prevalence rate of chronic diseases in the Asian countries including India and China, is a major factor contributing to the expansion of market in this region.
• Some major players serving this vertical include Charles River Laboratories, Inc.; Ellab A/S; Merck KGaA; GenScript; Hyglos GmbH; Lonza; Thermo Fisher Scientific, Inc.; Associates of Cape Cod, Inc.; and Pyrostar

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Surging demand for anti-wrinkle creams, anti-aging solutions, and expanding cosmetic industry contribute to the growth hyaluronic acid row material market

The global hyaluronic acid raw material market is expected to reach a value of USD 7.25 billion by 2024, according to a new report by Grand View Research, Inc. The increasing use of hyaluronic acid in various medical applications, such as osteoarthritis, wound healing, postoperative adhesion, tympanic membrane repair, tumor diagnosis, fracture healing, and soft tissue repair is expected to fuel the market growth over the forecast period.

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The orthopedics segment dominated the overall market in 2015 with the highest revenue generation. The increasing geriatric population base, rising incidence of osteoarthritis, and growing adoption of viscosupplements in the treatments contribute to the large market share of this segment. Furthermore, the drug delivery segment is projected to be the fastest growing over the forecast period with a significantly higher CAGR. The increasing R&D activities focusing on targeted drug delivery systems and growing usage of hyaluronic acid in anti-cancer drug delivery is expected to contribute to the market growth.

The increasing women population of age 35 to 65 years across the globe engenders a greater demand for anti-aging cosmetic and aesthetic treatments. Owing to the distinctive viscoelastic and moisturizing properties coupled with lower toxicity levels offered by hyaluronic acid-based products, the demand for this polymer in dermal fillers as well as in the treatment of vesicoureteral reflux is expected to experience growth. Thus, it is anticipated that the need for such products will serve as a high impact driver for the hyaluronic acid products over the forecast period. Based on the statistics of the International Society of Aesthetic Plastic Surgery in 2014, there were approximately 20 million cosmetic procedures performed globally, of which nearly 13.5% of the procedures were HA-based non-surgical procedures.

Some of the top countries recording a majority of the aesthetic treatments in 2014 were the U.S., Brazil, Japan, South Korea, Mexico, Germany, France, and Colombia. Medical tourism for cosmetic surgery in the U.S. plays a very important role in aiding the uptake of HA-based products and procedures, which is expected to drive the market in the coming few years.

Further Key Findings From the Study Suggest:

• In 2015, orthopedics was the largest application segment, owing to rising prevalence and incidence of osteoarthritis
• The introduction of FDA-approved hyaluronic acid-based viscosupplements such as ORTHOVISC and MONOVISC is expected to boost usage over the next 8 years
• Some of the key market players are Salix Pharmaceuticals; ALLERGAN; Lifecore Biomedical, LLC; Shiseido Co., Ltd.; Anika Therapeutics, Inc.; Smith & Nephew; Maruha Nichiro Corporation; Ferring B.V.; SEIKAGAKU CORPORATION; Genzyme Corporation; F. Hoffmann-La Roche Ltd., Contipro a.s.; Zimmer Biomet; and others

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Technological advancement in molecular biology products, such as PCR and NGS is key factor contributing toward growth of molecular weight marker market

The global molecular weight marker market is expected to reach a value of USD 1.1 billion by 2025, according to a new report by Grand View Research, Inc. Increasing investment in R&D by companies including biotechnology and biologics is the major factor that drives the growth during the forecast period. These markers are used by researchers and companies for various applications such as polymerase chain reaction (PCR), northern blotting, southern blotting, and molecular cloning. Thus, the increasing application of these products in R&D is expected to boost growth.

Increasing focus on molecular biology research is another major factor supporting the growth of the molecular weight marker market. Molecular biology research is important to understand interactions between the different systems of a cell, including DNA, RNA, and protein biosynthesis & regulation. Thus, these research activities are very high in developed countries and are growing at a high pace in developing countries including China and India. Hence, there is a growing demand for molecular weight marker for research activities, which is expected to fuel the growth.

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Further key findings from the study suggest:

• DNA markers was the largest revenue-generating segment of the molecular weight marker market in 2016 and is also expected to showcase the fastest growth during forecast period
• In the application segment, nucleic acid accounted for the largest share in 2016, owing to the large application of DNA markers in PCR, sequencing, northern blotting, southern blotting, and molecular cloning
• The academic and research institutes dominated the molecular weight marker market in terms of revenue in 2016, due to the large focus on molecular biology and other related research activities
• The North America molecular weight market is the leading regional sector and accounted for the largest revenue share in 2016, mainly due to the existence of large number of research laboratories and biotechnology companies in this region
• The Asia Pacific market is projected to grow at a highest growth rate during the forecast period. The developing healthcare infrastructure and escalating interest on molecular research in the Asian countries such as India and China is a major factor contributing to the growth in this region
• Some of the major players include Thermo Fisher Scientific, Inc.; F Hoffmann-La Roche Ltd.; Merck KGaA; Agilent Technologies; QIAGEN; TAKARA BIO, INC.; Bio-Rad Laboratories, Inc.; Promega Corporation; and New England Biolabs

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Rising incidences of sports related injuries worldwide is anticipated to be high impact rendering driver for the lucrative growth of sports medicine market

The global sports medicine market is expected to reach USD 12.5 billion by 2025, according to a new report by Grand View Research, Inc. Rising incidences of sports related injuries worldwide is anticipated to be high impact rendering driver for the lucrative growth of sports medicine market.

As per data published by the U.S. Consumer Product Safety Commission’s National Electronic Injury Surveillance System (NEISS) in 2012, around 1.9 million people encountered such injuries. Additionally, with aid of fitness awareness initiatives from government and health organizations, people nowadays are more focused on physical exercise including gym, outdoor sports and others fitness activities. With this people are more prone to injuries, hence contributing to the remunerative growth of market.

Additionally, influx of technologically advanced products such as minimally invasive surgical products is anticipated to increase the demand for these devices over the forecast period. For instance, in March 2015, Smith & Nephew launched Q-FIX implant which assists surgeon’s flexibility for all sutures anchors along with fixation and pull-out strength equivalent to large sized anchors.

Similarly, in May 2014 Smith & Nephew acquired ArthroCare, a medical device company based in the U.S. specialized in tissue repair devices. This acquisition helped the company to enrich its sports medicine product portfolio.

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Further key findings from the study suggest:

• Body reconstruction and repair devices consisting of surgical equipment, soft tissue repair, and bone reconstruction devices held significant share in 2016 and also this segment is anticipated to exhibit lucrative growth rate over the forecast period.
• Knee-related applications held largest market share in 2016.The knee injuries are the most frequent in most of the games such as soccer, basketball, bicycle, and running which supported the dominion in application segment.
• In the therapeutic segment, cardiology, IVD, and drug delivery are the top performing segments. Rising incidences of cardiac failures, infectious diseases and high research activity in the field of drug delivery are certain vital impact rendering factors.
• North America, held commanding shares in global sports medicine market. Improved healthcare infrastructure and high healthcare expenditure are key factors responsible for growth. In addition, presence of organizations which are dedicated in field of sports medicine such as the American College of Sports Medicine (ACSM) facilitated availability of adequate and qualified staff.
• The key players of the industry include Stryker Corporation, Arthrex, ArthroCare, Tornier N.V., Wright Medical Technology, DJO Global, Otto Bock Healthcare, Ossur HF, Zimmer Holdings Inc., and Smith & Nephew Plc.

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Rat model market is predicted to witness higher revenue contribution by breeding process

The global rat model market is expected to reach USD 845.0 million by 2025, according to a new report by Grand View Research, Inc. As of 2016, outbred type of rat model is commonly utilized for research and educational activities within the healthcare domain. However, advancement in production technologies is expected to boost growth of knockout and conditioned rats.

The production technologies for aforementioned type of model are recent in nature and can be traced back to 2008, post the development of mobile DNA technology. The first knockout model was introduced in 2009 using Zinc Finger Nuclease (ZFN) method, which led to an advancement in the field of rat models. Other tools for genetic editing are Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR), homologous recombination, and N-ethyl-N-nitrosourea (ENU) mutagenesis.

Furthermore, supportive infrastructure and technology coupled with growing incidence of chronic conditions & genetic mutation amongst human species are expected to extend higher applicability for research purposes, thereby boosting growth.

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Further key findings from the study suggest:

• Outbred is expected to dominate the type segment for rat model market. Presence of numerous outbred type and higher applicability of these to mimic human diseases is anticipated to support growth over the forecast period.
• Microinjection is anticipated to witness the fastest growth over the forecast period owing to faster development of the models and reduction in breeding time. Similarly, development of newer technology within the other segment is expected to propel growth.
• Based on services, the rat model market is predicted to witness higher revenue contribution by breeding process. Cryopreservation is anticipated to witness fastest growth over the forecast period.
• Rising production of conditioned rats for behavioral studies and growing R&D within neurological application is expected to support lucrative growth of rat model. Other application expected to support growth include cardiovascular disorders, diabetes, obesity, and renal disorders.
• The key market players of the industry include Covance Inc.; Envigo; Charles River Laboratories International, Inc.; Horizon Discovery Group plc.; TransViragen, Inc.; Javier Labs; and others. Mergers & acquisitions are expected to strengthen company capabilities. For instance, Horizon Discovery Group plc. accomplished the aforementioned goal by acquiring SAGE Labs, Inc. in 2014.

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Rising number of diabetic population and awareness level regarding the usage of insulin pens are key factors to growth pen needle market

The global pen needles market is expected to reach a value of USD 4.8 billion by 2025, according to a new report by Grand View Research, Inc. Rising prevalence of diabetes is the primary reason for the significant growth of pen needles market. According to the International Diabetes Federation (IDF), nearly 415 million people were suffering from diabetes in 2015. Such a high prevalence of diabetes across the globe has led to rising demand for pen needles. Patients suffering from diabetes commonly use injectable pen devices, which helps in easy drug delivery.

In addition, obesity is a significant cause of diabetes. Obese people often suffer from type 2 diabetes, which makes them one of the highest revenue contributors of the target market. Thus, people with type 2 diabetes are the common target population for companies manufacturing pen needles.

Rising technological advancements is also expected to drive the market growth. Pen needles allow comfort and easy mode of insulin delivery. These devices are technologically advanced and provide a superior alternative drug delivery method in comparison to syringes and vials. For instance, in 2013, Becton, Dickinson and Company launched BD Ultra-Fine Nano 4mm Pen Needles with EasyFlow Technology, which will enable diabetic patients with easy adherence of insulin therapy regimens.

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Further Key Findings from the Study Suggest:

• Standard needles dominated the market in 2015 due to the availability of cost-effective needles as compared to safety needles
• Safety pen needles are anticipated to showcase lucrative growth over the forecast period due to the continuous technological advancements
• Amongst the needle lengths, 8mm held the largest share in 2015. This is due to the convenience offered by this needle type on diabetic patients
• Needle length of 4mm are expected to witness attractive CAGR over the forecast period owing to its short length
• Insulin therapy accounted for the largest market share in 2015 due to rising awareness regarding self-administration of insulin amongst the diabetic patients
• Europe dominated the market in 2015 followed by North America owing to high prevalence of diabetes in the European region
• Asia Pacific region is anticipated to exhibit the highest growth rate over the forecast period owing to the rising awareness levels amongst the diabetic population regarding easy drug delivery
• Some of the key players include Becton, Dickinson and Company, B. Braun Melsungen AG, Novo Nordisk A/S, Owen Mumford, Ltd., Ypsomed, HTL-STREFA, and TERUMO CORPORATION.

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Demand of cell culture protein surface coating is growing at a high rate, which is estimated to drive the growth of cell culture protein surface coating market

The global cell culture protein surface coating market is expected to reach a value of USD 1.3 billion by 2025, according to a new report by Grand View Research, Inc. Increasing focus on stem cell research and development is the most substantial factor that drives the market growth during the forecast period. Stem cell therapy is the most promising method to treat severe medical conditions such as cardiovascular disease, brain disease, cell deficiency therapy, and blood disease. Thus, the biotechnology companies and research laboratories are adopting innovative protein surface coating products for the development of stem cells.

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Rising demand for biopharmaceutical products including antibodies, vaccines, proteins, and drugs is another major factor driving the growth of the cell culture protein surface coating market. The production of biopharmaceutical products such as monoclonal antibodies and recombinant proteins is carried out by using cell culture technique. The protein surface coating provides improved adhesion and proliferation of cells in vitro. Thus, the demand of cell culture protein surface coating is growing at a high rate, which is estimated to drive the growth of this sector.

Further key findings from the study suggest:

• Self-coating was the largest revenue grossing segment of the cell culture protein surface coatingmarket in 2015. It is expected to uphold its dominance during the forecast period owing to its large application in 2D and 3D cell cultures
• The precoated product segment is the fastest growing segment due to growing popularity of multiwell/microwell plates for in vitro applications
• The synthetic protein segment is anticipated to grow at the fastest rate during forecast period, due to its advantages over other protein types such as reduced risk of contamination and simplified composition
• North America was the largest revenue-generating region of the market in the year 2015. This region is expected to maintain its position during the forecast period
• Existence of big biopharmaceutical companies and highly developed healthcare infrastructure is projected to drive the demand for products of the target market in the region during forecast period
• Asia Pacific region is anticipated to be the fastest growing segment over the forecast period
• Rapidly booming biotechnology industry and comparatively less stringent regulations for biologics development in APAC region is primarily driving the growth of this sector
• Some of the key players include Corning Inc.; Merck KGaA; Thermo Fisher Scientific, Inc.; Greiner Bio One International GmbH; PerkinElmer, Inc.; BioVision, Inc.; and Trevigen Inc.