Impact of COVID-19 On Several Industries In Context With The Vaccines Industry

 

Coronavirus (COVID-19) was first seen in late December in Hubei province of Wuhan city in China. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from humans to humans. After the first case in Wuhan, the disease rapidly spread to other parts of the globe. On 11th March 2020, the World Health Organization (WHO) made an assessment that COVID-19 can be characterized as a pandemic. Thus, social-distancing became an important measure to stop the spread of this disease. Various countries across the world adopted nationwide lockdowns. This led to a completely new scenario for the world, where every business in each industry faced new challenges and witnessed new opportunities. Similarly, the vaccines industry, a vital part of the healthcare sector, was also hit in a deleterious manner. Before COVID-19, growth of the vaccines industry was expected to show a gradual increase, owing to various factors such as high investments in R&D and rise in awareness related to immunization. However, COVID-19 spread led to a sudden change in scenario, with unexpected changes in the vaccines industry. Major part of the vaccines industry was hit in a negative manner, whereas some areas grew, owing to rise in demand for vaccine against COVID-19.

The spread of the virus led to a major disruption in the starting phase of the lockdown where business related restrictions were strict, which, in turn, caused disturbances in supply chain as logistics were compromised in every part of the world initially. Other changes included incorporation of safety measures such as social distancing at work places and shortage of human resources.

Impact of COVID-19 on several industries in context with the vaccines industry

Vaccine are suspension of weakened or killed microorganisms or toxins or antibodies, which are administered to a healthy individual to prevent disease. These products are very vital in healthcare as these biological preparations are used to build immunity against deadly contagious diseases, which pose threat to human civilization. Children need immunity against different types of viral diseases in initial years where vaccines play a major role. A vaccine is administered by a qualified healthcare staff, which has sufficient knowledge about dosage and other aspects associated with the administration.

The COVID-19 outbreak impacted the vaccines segment in a negative manner in the initial month of the outbreak. Vaccination efforts that help to control infectious diseases were put on hold to concentrate on medical care for COVID-19. Medical staff was more inclined toward providing healthcare to COVID-19 patients to understand the new virus and stop its spread among healthcare individuals. This led to a scenario where needs related to vaccination were put on hold, owing to stringent social distancing measures. This majorly impacted availability of vaccines throughout the world during the outbreak. For instance, according to the National Foundation for Infectious Diseases, routine vaccination rates declined in the U.S. with demand plummeting as much as 95% for certain vaccines.

Similarly, according to a study conducted by the Centers for Disease Control and Prevention (CDC), fewer than half of infants aged 5 months and younger were up-to-date on recommended vaccinations in Michigan. In addition, according to a data from statewide immunization registry Florida SHOTS (State Health Online Tracking System), Miami-Dade County recorded an approximate 60% decline in children vaccines administered in April 2020, when compared to 2019. WHO also quoted that it is the first time in 28 years that the world could see a reduction in diphtheria-tetanus-pertussis (DTP3) coverage. A similar trend of decline in vaccination rates was seen in other parts of the world in the initial phase of the outbreak. Thus, this decline in demand for immunity providing vaccines negatively impacted the vaccines industry.  

As the airline industry collapsed during COVID-19 which had a profound impact on shipments of vaccines leading to a negative impact on the supply of vaccines. Profound decline in flights and closed airports at destination countries, owing to lockdown obstructed UNICEF’s capability to ship vaccines as per country and supplier shipment plans. Although availability of commercial flights is improving with time, these improvements are limited. Some destinations are still difficult to access with limited flight and charter options. This disruption in supply chain has led to dire conditions in countries in various regions such as West and Central Africa, East and South Africa, and East Asia and South Asia. Stocks form major vaccines have reached critical levels in these regions, which include vaccines such as measles, Bacillus Calmette-Guérin (BCG), pentavalent (diphtheria, tetanus, pertussis (whooping cough), hepatitis B, and haemophiles influenza type b, human papillomavirus (HPV); hepatitis B, oral polio vaccine (OPV), rotavirus, and pneumococcal conjugate vaccine (PCV).

Moreover, with time stringent social distancing guidelines have eased and governments of several countries all over the globe have started taking measures to restore vaccination programs. In addition, importance of vaccination has led to restoration of vaccination programs in many parts of the world. World health organization has called on countries to make sure that immunization is maintained wherever possible. It is also ensuring that observation for vaccine preventable diseases remains undisrupted during the ongoing pandemic.

However, in the midst of a staggering impact on demand and supply of vaccines, COVID-19 outbreak also presented a huge opportunity to the vaccines industry. Measures to control the spread included vaccination against the virus, which can induce immunity in healthy individuals against COVID-19. This led to emergence of an urgent demand for vaccine against COVID-19. This demand is recognized by major key players across the globe and governments of nations worldwide.

Table 01.     Global VACCINE market, 2019–2027 ($BILLION)

	2019	2020	2021	2022	2023	2024	2025	2026	2027
Global Market	32.5	34.5	36.7	39.1	41.74	44.6	47.5	50.7	54.1

Source: Primary & Secondary Research and AMR Analysis

Expectations from the vaccination industry

The vaccine industry is taking tremendous efforts to develop the first effective COVID-19 vaccine. Anticipation around the novel vaccine has become stronger as the virus is spreading at a rich pace. The sooner a vaccine is developed the more lives could be saved. Thus, the vaccine industry has a very dynamic role in the battle against COVID-19 infection.  

Major players across the globe have started with research related to the vaccine and some products have reached late stages of clinical trials. In addition, governments, multilateral agencies, not-for-profit institutions, and the private sector are funding for research and development of COVID-19 vaccine. For instance, COVID-19 Therapeutics Accelerator (CTA) is a philanthropic collaboration. This collaboration supports efforts taken for R&D to bring effective treatments against COVID-19 in market quickly and accessibly. Many vaccine giants have joined this program.

Companies such as Johnson & Johnson (Janssen Pharmaceutical Companies), Cadila Healthcare Limited, GlaxoSmithKline plc, Merck Sharp & Dohme, and Sinovac Biotech Ltd. are conducting research related to COVID-19 vaccines. Some vaccine products of these companies are present in the stage III clinical trials and some are in early stages of clinical trials. For instance, Johnson & Johnson’s candidate vaccine is currently being studied in phase III clinical trials. Other companies with their candidate vaccines in the stage III clinical trials include Sinovac Biotech Ltd. and Novavax, Inc.

There are approximately 48 candidate vaccines, which are currently being tested against COVID-19 in clinical trials on humans. Thus, strong pipeline vaccines are anticipated to hit the market in 2021 to change the COVID-19 scenario worldwide.

Post COVID-19 Scenario

As nations are emerging out of strict lockdowns, economy is expected to still need time to stabilize gradually. Players operating in the vaccine industry are anticipated to face new challenges related to different aspects. Decision making management of vaccine companies is anticipated to face challenges such as improvement of liquidity, management of working capital, better management of expenditures, and redefined contracts with suppliers.

Another scenario is anticipated to arise as governments of nations across the globe are becoming more particular about resuming immunization programs. Thus, this is expected to bring stability to the vaccine industry. Flights and land logistics are also anticipated to normalize, which may lead to steady rise in supply of vaccines post COVID-19.

Furthermore, the vaccine industry is expected to face a scenario related to constant demand for COVID-19 vaccine, once it is launched in the market. Certain factors are expected to become very important once the vaccines against COVID-19 are launched. For instance, vaccine manufacturers would have to adapt to a range of demand scenarios such as flexible manufacturing, collaboration with others to drive vaccine delivery, track the adoption, and monitoring of vaccines across various regions.  

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Recent news in the vaccine industry during the pandemic

Vaccine manufacturers around the world are actively participating and taking efforts toward the development of a vaccine effective against COVID-19.

On April 14, 2020, Sanofi S.A. and GlaxoSmithKline plc., entered into a collaboration to develop an adjuvanted vaccine for COVID-19, using innovative technologies from both companies to help address the ongoing pandemic. Sanofi is expected to contribute its S-protein COVID-19 antigen, which is based on recombinant DNA technology and GSK would contribute its proven pandemic adjuvant technology.

On September 15, 2020, Novavax, Inc., announced an amendment to its existing agreement with Serum Institute of India Private Limited (SIIPL) under which SIIPL would manufacture the antigen component of NVX‑CoV2373, Novavax’ COVID‑19 vaccine candidate.

On September 23, 2020, Sinovac Biotech Ltd., received National Medical Products Administration (NMPA) approval to study CoronaVac, inactivated COVID-19 vaccine candidate developed by company in clinical trial in adolescents and children.

On October 23, 2020, Johnson & Johnson, announced that it is preparing to resume recruitment in the pivotal Phase 3 ENSEMBLE trial of its investigational Janssen COVID-19 vaccine in the U.S. after a temporary pause.

 

Impact of COVID-19 On Several Industries In Context With The Diagnostics Industry

The COVID-19 outbreak was declared as a pandemic by the WHO on 11th March 2020, and social distancing was seen as a measure to contain the spread of SARS-CoV-2. As a result, the world witnessed nationwide lockdowns where non-essential businesses remained shut and people maintained strict social distancing. This led to a completely new scenario for the world, where every business in each industry faced new challenges and witnessed new opportunities. Similarly, the diagnostics industry, a vital part of the healthcare sector, suffered a great upheaval during the pandemic. The healthcare sector and diagnostics industry are closely interdependent and the latter attains a substantial share in the industry at large.  Being so closely reliant, the impact on diagnostic sector was reflected on a large scale. Growth of this business before COVID-19 was expected to be a gradual increase, owing to various factors such as availability of novel products and rise in awareness related to early diagnosis of medical ailments for better management. However, the outbreak lead to a sudden change in scenario, sending mixed waves to the business flow. Some parts of the diagnostics industry were hit in a negative manner whereas others grew, owing to unexpected rise in demand for products. The fact that the diagnostics industry falls under the category of essential business and diagnostics plays a major role in detection of COVID-19 has also influenced the growth in many ways.

The impact was felt at a greater intensity in the starting phase of the lockdown where business related restrictions were strict, which led to supply chain disruptions as logistics were compromised in every part of the world initially. Other changes included incorporation of safety measures such as social distancing at work place and shortage of human resources. An urgent need for novel diagnostics in COVID-19 testing also impacted the entire diagnostics industry.

Impact of COVID-19 on several industries in context with the diagnostics Industry

Diagnostics are used frequently in the healthcare sector. These are available in form of kits and reagents, which are used to test samples collected from patients such as blood, urine, and tissues. These products lay foundation to diagnosis of various medical ailments such as infectious diseases, cancer, cardiac diseases, and immune system disorders. Thus, their essential nature leads to lower negative impact as compared to other businesses. However, demand for basic diagnostics, which are not considered as essentials suffered a loss. Basic metabolic profile tests, thyroid function panel tests, electrolyte panel tests, genetic tests, and other such diagnostics witnessed a negative trend in the initial period as these tests are of elective nature and thus, were postponed in majority of countries across the globe. This led to a drop in demand for diagnostics worldwide.  According to the U.S. Department of Health & Human Services, most clinics and hospitals restricted in-person delivery of non-essential healthcare services, including genetic counseling to slow the spread of the virus. However, telehealth is being used as a measure out of necessity.

Lockdowns also resulted in closure of many departments of various hospitals, owing to shortage of staff. This impacted the number of diagnostic tests, which were prescribed to non-COVID-19 patients.

However, in the midst of a staggering impact on demand of non-essential diagnostics, COVID-19 outbreak also presented a huge opportunity to the diagnostics industry. The measures to control the spread included a quick detection of virus and isolation of detected individuals. This led to emergence of an urgent demand for diagnostics, which can detect COVID-19. This demand was immediately recognized by major key players across the globe and governments of nations worldwide. Thus, government organizations such as emergency use authorization (EUA) authority helped strengthen protections against COVID-19 outbreak by facilitating availability and use of diagnostics needed for detection of COVID-19.  Thus, many giants operating in the diagnostic industry changed the approach toward business operations. In response to COVID-19, companies such as F. Hoffmann-La Roche Ltd. and  Danaher Corporation (Beckman Coulter Inc.) took measures to increase supply of key tests. This is achieved by following directions from international health organizations and local governments. Production sites are operational and regions with severe impact are backed up with solid inventory reserves and strong supplier relationships. Companies have leveraged their partnerships in the logistics community to move freight around the globe. Companies also dramatically scaled-up production by operating for 24 hours seven-days-a-week at manufacturing sites and invested in additional equipment capacity to meet the demand.

However, laboratories worldwide faced as crisis, owing to shortage of human resources and surplus of COVID-19 samples in initial stages of outbreak. These samples were tested on available laboratory equipment, which impacted in vitro testing in a negative manner. For instance, COVID-19 samples are testing use of Cobas 8800 System and Cobas 6800 System offered by the F. Hoffmann-La Roche AG. Furthermore, these same systems are also utilized to conduct diagnosis of various infectious diseases such as HIV and hepatitis.

Thus, the impact on diagnostics industry has a two-way scenario where there is a downfall in non-essential diagnostics and at the same point growth in new demand for COVID-19 diagnostics.  

Expectations from the diagnostics industry

The diagnostic industry found itself on the frontline in the battle against COVID-19 outbreak. The outbreak of the virus lead to an immediate need of diagnostics, which can detect virus in a patient. The diagnostics industry was heavily relied upon by governments across the globe. The major players operating in the industry were expected to manufacture new diagnostics for COVID-19 detection. The demand was quickly put to action as testing is critical step to contain the virus. Many companies received emergency use authorization (EUA) approvals for novel COVID-19 detection tests through which the FDA permits use of a non–FDA-approved drug or device to respond to a declared emergency. Thus, key players launched test kits in initial period of outbreak. Various types of tests kits were launched, which are currently being utilized in the detection of SARS-CoV-2. Hence, this has impacted the market in a positive manner. In the beginning, real-time reverse transcriptase polymerase chain reaction (RT-PCR) based in vitro diagnostics was used for the detection of SARS-CoV-2, which takes a few hours to detect the virus. Some RT-PCR tests that received CE Mark approval in include Cobas SARS-CoV-2 launched by Roche in March 2020. However, as these tests required a longer duration for detection, companies then launched new tests, which take up to 45 minutes for detection. For instance, Cepheid, a subsidiary of Danaher received an emergency use authorization for its Xpert Xpress SARS-CoV-2 test in March 2020. This test is a rapid coronavirus diagnostic test with a detection time of about 45 minutes.

Furthermore, other key players in the diagnostics industry such as Abbott laboratories launched point-of-care (POC) molecular assay, which decreased test duration to 5 minutes. This test delivers results in 13 minutes and can be used outside hospitals such as in physician offices or urgent care clinics. In response to SARS-CoV-2 detection, a wide range of serology immunoassays were also developed for detection of anti-bodies produced by previously infected patients of COVID-19. Abbott Laboratories received CE Mark for its laboratory-based serology blood test for detection of the antibody, IgG, that identifies if a person has or had the novel coronavirus (COVID-19). Other key players such as bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), QIAGEN N.V., Siemens AG (Siemens Healthineers), and Thermo Fisher Scientific, Inc. launched tests for COVID-19 testing. Thus, rapid and urgent demand of these tests led to surge in revenue earned by top players.

Post COVID-19 Scenario

As nations are emerging out of strict lockdowns, economy is expected to still need a time frame to stabilize gradually. These disruptions caused by sudden changes would require time to get back on track. Players operating in the diagnostics industry are anticipated to face new challenges related to different aspects. For instance, social distancing would lead to a negative impact on testing services. However, the scenario is expected to change upon resuming of rescheduled appointments leading to sudden rise in demand for testing services. Similarly, decision making management of diagnostic companies is anticipated to face challenges such as improvement of liquidity, management of working capital, better management of expenditures, and redefined contracts with suppliers.

In the future, healthcare situation caused by COVID-19 is expected to evolve in various ways where countries would look for safe exit strategies from confinement measures. Thus, most reliable strategies would include COVID-19 testing on a larger scale. This is expected to lead to a scenario where the diagnostics industry would play a vital part in this global health emergency. 

Recent news in the diagnostics industry during the pandemic

The diagnostics industry witnessed huge emergency use authorization approvals followed by launch of those products in the market.

In March 2020, On May 2019, Abbott Laboratories received CE Mark for its laboratory-based serology blood test for detection of the antibody, IgG, that identifies if a person has or had the novel coronavirus (COVID-19). Similarly, in the same month bioMérieux S.A. launched three tests in response to the COVID-19 pandemic, which included a real-time PCR test, fully automated test based on BIOFIRE FILMARRAY technology, and BIOFIRE Respiratory Panel 2.1 (RP2.1), an expanded version of its BIOFIRE FILMARRAY Respiratory Panel 2.

In April 2020, Becton, Dickinson and Company received the Emergency Use Authorization from the food and drug administration (FDA) for a new diagnostic test that would enable hospitals to screen for COVID-19 (coronavirus) on site and get results within three hours. In addition, this test is launched to meet an urgent requirement of an easy-to-use, rapid diagnostic, which can be used to test or screen patients and health care workers for COVID-19 across the U.S.

Other companies that received emergency use authorization approvals and launched novel diagnostics during the pandemic include Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche AG, QIAGEN, and Siemens AG.

Prosthetic Heart Valve Market to Reach $8,392 Million by 2023

 

According to a new report published by Allied Market Research, titled, Prosthetic Heart Valve Market by Type: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global prosthetic heart valve market was valued at $3,874 million in 2016, and is expected to reach at $8,392 million by 2023, growing at a CAGR of 11.4% from 2017 to 2023. The transcatheter heart valve segment accounted for more than three-fifths share of the total market in 2016.

 

Prosthetic heart valves are implanted in patients suffering from valvular heart disease, which results in failure of one or more valves present in the human heart. These patients are treated by replacing a natural heart valve with a prosthetic heart valve.

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The market is driven by rise in prevalence of cardiac disorders, such as rheumatic heart diseases, increase in geriatric population, and change in lifestyle of people, novel technological advancements in prosthetic heart valves, rise in patient awareness, demand for minimally invasive cardiovascular surgeries, and surge in transcatheter heart valve surgery centers. However, this growth is limited by high cost, risk associated with prosthetic heart valves, and stringent approval process for prosthetic heart valves. Use of transcatheter heart valves for new indications and emerging markets in Asia-Pacific and LAMEA are expected to provide several opportunities for key players operating in prosthetic heart valve market.

 

The transcatheter heart valve segment is expected to maintain its dominant position throughout the analysis period, owing to rise in prevalence of aortic stenosis, increase in geriatric population, and new device approvals. In addition, transcatheter heart valve segment is expected to grow at the highest CAGR of 15.0%, owing to increase in adoption rate for transcatheter valve implantation procedures.

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Key Findings of the Prosthetic Heart Valve Market

• Based on product type, the transcatheter heart valve segment accounted for more than three-fifths of the total market in 2016.
• Europe accounted for more than half of the transcatheter heart valve market (in terms of value) in 2016, with a CAGR of 13.8%.
• Europe accounted for both, major share (nearly two-fifths) in 2016 (in terms of volume) and highest CAGR of 11.1% (for volume market) from 2017 to 2023, in the global market.
• LAMEA is expected grow at a high CAGR of 11.7% from 2017 to 2023.

 

Europe accounted for majority of the share (nearly half) in the market in 2016, and is expected to remain dominant throughout the forecast period, owing to increased adoption of prosthetic valves, enhanced technological advancements, and development of novel products by the key players. In addition, increase in prevalence of aortic stenosis, rise in awareness among patients & physicians about the availability of advanced prosthetic valves, and advanced healthcare infrastructure fuel the market growth. Moreover, rise in awareness for availability of prosthetic valves and procedures in certain European nations are the key factors that have increased the adoption of advanced prosthetic valves in the region.

 

The major companies profiled in the report include Abbott Laboratories, Medtronic plc., Medical Technology Est., Boston Scientific Corporation; Micro Interventional Devices, Inc., Direct Flow medical, Inc., Edwards Lifesciences Corporation, LivaNova PLC., JenaValve Technology, Inc., and Cryolife, Inc.

Orthopedic Implants Market Expected to Reach $66,636 Million by 2025

 

According to a new report published by Allied Market Research, titled,"Orthopedic Implants Market by Product, Type and Biomaterials: Global Opportunity Analysis and Industry Forecast, 2017 - 2025,"the orthopedic implants market size was valued at $45,901 million in 2017, and is projected to reach $66,636 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025.

 

Orthopedic implant is a medical device surgically placed inside the body to restore bone function by reinforcing or replacing a damaged structure. These implants are either permanently incorporated inside the human body or withdrawn after desired results. The growth in number of replacement surgeries, such as knee, hip, shoulder, and other (bone or joint) has propelled the demand for implants globally.

 

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Factors that drive the growth of the global orthopedic implants market are rise in prevalence of orthopedic injuries or diseases and the rapid rise in geriatric population. In addition, technological innovations, such as robot-assisted surgical tools, acceptance for implantable medical devices, and widespread application of orthopedic implants to treat musculoskeletal, orthopedic diseases, & injuries further supplement the market growth. However, high cost associated with procedures involving orthopedic implants for treatment and stringent government policies hamper the market growth. Furthermore, the emerging economies present lucrative opportunities for the market.

 

According to type, the knee segment accounted for the highest orthopedic implant market share share in 2017, and is anticipated to maintain this trend during the forecast period. However, spine is estimated to register the highest CAGR during the forecast period attributed to increase in geriatric population, rise in incidence of spinal disorders, and expansion in the indications for which spinal fusion surgery is performed.
By material type, the metallic biomaterials segment occupied the largest share in 2017, owing to cost-effectiveness of these materials. Metallic biomaterials provide efficacy of bone healing as compared to other materials. These are used to manufacture various orthopedic implants such as screws, plates, vertebral compression fracture (VCF) devices, and others. However, other biomaterials are estimated to register the highest CAGR during the forecast period. This is due to the growing demand for these materials owing to their several advantages over synthetic biomaterials. These advantages include biocompatibility, no toxicity, and may also carry specific protein binding sites, and other biochemical signals that can help in the process of tissue healing or integration.

 

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 Key Findings of the Orthopedic Implants Market:

• The orthobiologics segment is anticipated to grow at a highest rate during the forecast period.
• U.S. was the major shareholder in the North America orthopedic implants market, accounting for more than three-fourths share in 2017.
• The metallic segment occupied about 64.85% share of the total biomaterial market in 2017.
• China occupied about one-third share of the total Asia-Pacific orthopedic implants market in 2017.
• The knee segment accounted approximately one-fourth share of the orthopedic implants market in 2017.

 

In 2017, Asia-Pacific and LAMEA collectively accounted for more than one-fourth of the total orthopedic implants industry and are expected to continue this trend due to increase in implants development, specifically in China, India, and the other developing countries. Factors such as rise in buying power with developing healthcare infrastructure, and increase in geriatric population, fuel the growth of the orthopedic implants market in the Asia-Pacific region.

 

The major companies profiled in this report include Johnson & Johnson (DePuy Synthes), Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic Plc, and Smith and Nephew Plc., Wright Medical Group N.V., CONMED Corporation., Arthrex, Inc., DJO Finance LLC, and Globus Medical Inc.

UK IVF Services Market Expected to Reach $685.4 Million, by 2022

 

According to a new report published by Allied Market Research titled, UK IVF Services Market by End User and Cycle Type: Opportunity Analysis and Industry Forecast, 2014-2022, the UK IVF services market is estimated to reach $685.4 million by 2022, registering a CAGR of 7.7% from 2016 to 2022.

 

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The UK IVF services market is characterized by important factors such as increase in cases of infertility, delayed marriages, and parenthood decisions. In addition, decrease in birthrate also boost the market growth. For instance, in 2014 total fertility rate decreased to 1.83 per woman from 1.85 in 2013. The IVF services market in the UK is anticipated to experience a continuous growth due to supportive regulatory bodies such as Human Fertilization and Embryo authority (HFEA), which closely regulates the functioning of IVF treatments and research involving human embryos in the UK supplements the market growth. The growth of the market is associated with decrease in birthrate, increase in infertility, and supportive regulations for IVF treatments.

 

The fertility clinics segment is anticipated to dominate the market during the forecast period in terms of volume and revenue. This is because the fertility clinics provide technologically advanced and wide range of fertility treatments under one roof for patients.

 

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 Key Findings of the UK IVF Services Market:

• Based on cycle type, fresh IVF cycles (non-donor) is projected to be one of the fastest growing segment at a CAGR of 8.3% from 2016 to 2022, in terms of revenue
• Based on end users, fertility clinics is projected to be the one of the fastest growing segment at a CAGR of 8.9% from 2016 to 2022, in terms of revenue
• Based on cycle type, fresh IVF cycle (non-donor) is projected to be the one of the fastest growing segment at a CAGR of 7.6% from 2016 to 2022, in terms of volume
• Based on end users, fertility clinics is projected to be the one of the fastest growing segment at a CAGR of 8.2% from 2016 to 2022, in terms of volume

 

Key players in the UK IVF services market includes companies, hospitals, surgical centers, fertility centers, and clinical research institutes. These includes Lister Fertility Clinics, The Bridge center, and Chelsea and Westminster Hospital.

Medical Bionics Market to Reach $29,160 Million, Globally, by 2023

 

Medical Bionics Market Report, published by Allied Market Research, forecasts that the global market was valued at $15,348 million in 2016, and is expected to garner $29,160 million by 2023, registering a CAGR of 9.6% during the forecast period 2017 - 2023. Cardiac bionics segment held more than one-third share of the total market in 2016.

 

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Bionics are the implantable devices, which imitates the function of a natural organ. Advent of technologically advanced systems such as cochlear implants and rise in incidence of chronic disease majorly drive the market growth. In addition, rise in geriatric population and increased focus of government funding on R&D initiatives are anticipated to further drive the demand for medical bionics globally. However, high cost of the device and stringent regulatory approval procedures restrict the market growth.

 

Cardiac bionics are expected to dominate the market throughout the analysis period, owing to the increase in the incidence of cardiac disorders, such as heart failure and structural heart defects. On the other hand, bionic eye segment is expected to grow at the highest CAGR of 13.9% during the forecast period.

 

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 Key findings of Medical Bionics Market:

• Bionic eye segment is projected to grow at a CAGR of 13.9% during the forecast period.
• Implantable bionics accounted for more than four-fifths share of the global medical bionics market.
• Exoskeleton segment is expected to register the highest CAGR of 21.0% during the analysis period owing to the increasing number of amputees.
• France and Germany jointly contributed for nearly one-fourth of the European medical bionics market in 2015.
• Japan is the major shareholder, accounting for almost one-third of the Asia-Pacific medical bionics market in 2015.

 

Asia-Pacific is projected to grow at the highest CAGR of 11.4% during the forecast period owing to improvement in healthcare infrastructures and rise in expenditures in emerging markets (such as India and China) to overcome the unmet medical needs. Technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for market growth.

 

The major companies profiled in the report include Abbott, Boston Scientific Corporation, Cochlear Ltd., LivaNova PLC, Medtronic plc, Orthofix Holdings, Inc., ssur Corporate, Retina Implant AG, Sonova, SECOND SIGHT, SynCardia Systems, LLC, and William Demant Holding A/S.

Molecular diagnostics Market to reach $10,557 Million, Globally, by 2023

 

Molecular Diagnostics Market Report, published by Allied Market Research, forecasts that the global market was valued at $5,962 million in 2016, and is expected to garner $10,557 million by 2023, registering a CAGR of 9.1% during the forecast period 2017-2023. The reagents segment accounted for the highest market share of the global molecular diagnostics market in 2016, owing to the increase in demand for the reagents with rise in number of testing various diseases. These are used in hospitals, laboratories, and others.

 

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Molecular diagnostics are cumulative techniques for analyzing biological markers at the molecular level, such as genome and proteome. These techniques are used for diagnosis of the various infectious diseases, cancer, and other genetic disorders, by performing tests, which detect specific sequences in DNA or RNA including single nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and others. Growth in number of patients suffering from infectious diseases and cancer; advancement in molecular diagnostics; increase in awareness and acceptance for personalized medicines, and growth in the biomarker identification market are the major factors driving the market growth. Stringent regulatory requirements for product approval hampers the market growth. Increase in adoption of molecular diagnostics in the emerging region provide growth opportunities for the market.
The PCR segment accounted for the highest share of the global market in 2016, owing to the increase in the demand for using PCR in proteomics and genomics and is a cost-effective technique, automation of laboratories is possible with cost-effective techniques.

 

The infectious diseases segment accounted for more than two-fifths share of the global market in 2016, owing to the increase in the number of patients suffering from, Human Immunodeficiency Virus (HIV), Hepatitis C virus (HCV), Human Papillomavirus (HPV), Chlamydia trachomatis/ Neisseria gonorrhoeae (CT/NG), and other infectious diseases.

 

The hospitals segment accounted for highest market share of the global market in 2016, owing to the large number of patients are treated in hospitals and most of the tests for these patients are performed in laboratories attached to hospital.

 

Geographically, North America dominated the global market in 2016, and is estimated to continue its dominance during the forecast period. This is attributed to higher adoption for technologically advanced devices, well-equipped healthcare facilities, higher adoption of personalized medicine, and rise in number of patients suffering from infectious diseases and cancer.

 

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Key Findings of Molecular Diagnostics Market

• In 2016, the PCR segment accounted for the highest share of the global molecular diagnostics market.
• The infectious diseases segment contributed the highest revenue to the global market in 2016
• The hospital segment is projected to grow at a CAGR of 8.8% during the forecast period.
• North America market is projected to grow at a CAGR of 9.0% from 2017 to 2023

 

The major companies profiled in the report include Abbott Laboratories, Inc., BioMrieux SA, Becton, Dickinson and Company, Cepheid (subsidiary of Danaher Corporation) (Denmark), Grifols, Hologic Corporation, Novartis AG, Qiagen N.V., Siemens Healthcare GmbH, and Roche Diagnostics.

 

Medical Carts Market Expected to Reach $1,302 Million by 2023

 

Medical Carts Market size valued at $571 million in 2016, and is projected to reach $1,302 million by 2023, growing at a CAGR of 12.4% from 2017 to 2023. The emergency cart segment accounted for nearly half share of the total market in 2016.

 

Medical cart/trolley is a mobile equipment, which consists of a set of shelves, trays, compartments, and drawers for hospital use and medical settings. It carries, dispense, and transport emergency drugs, medicines, medical devices, and medical instruments. Carts are a crucial aspect of medical aid as it provides storing, recording, and dispensing drugs, supplies, and patient information along with patient care. Many carts are designed to supply various surgical and emergency needs depending on the operating room and other medical settings.

 

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The emergency carts segment is expected to dominate the Asia-Pacific medical carts market throughout the forecast period, both in terms of value and volume. China dominated the Asia-Pacific medical carts market in 2016, accounting for more than one-third market share in terms of value, and is projected to continue this trend in the future. In addition, growth in improvement of patient safety and nursing efficiency supplement the market growth. Further, advancement in technologies, such as telemedicine offer lucrative opportunities for the growth of this market. However, lack of skilled professionals, high cost of medical carts, and limited government funding restrain the market growth.

 

The emergency carts segment is anticipated to maintain its dominance, generating highest revenue throughout the forecast period, owing to the large-scale employment of emergency carts at the time of crisis. This is because emergency carts contain sophisticated devices, such as defibrillators, suction devices, advanced cardiac life support (ACLS), apart from drugs, such as atropine, dopamine and others. In addition, it also includes generic drugs to treat common problems, rapid sequence intubation, and pediatric equipment. However, procedure carts segment is growing at the highest CAGR of 13.0% from 2017 to 2023 in terms of value, as it consists many medical equipment that aid in operating procedures, such as endoscopy, cardiology and others and provides access to essential drugs at the same time.

 

Key Findings of the Medical Carts Market:

• The procedure carts segment is anticipated to grow at the highest growth rate during the forecast period.
• North America dominated the global medical carts market, accounting for maximum share of overall market in 2016.
• Asia-Pacific is exhibited to grow at a higher growth rate of 13.5% during the forecast period in terms of value, owing to the high population base in countries, such as India and China.
• The emergency cart segment dominated the overall market in 2016, growing at a CAGR of 12.3% in terms of value, from 2017 to 2023.
• In terms of both value and volume, China accounted for the largest share in 2016, and is anticipated to maintain this trend throughout the forecast period in Asia-Pacific region.
• UK is expected to grow at a remarkable CAGR of 13.8% in terms of value and 13.2% in terms of volume during the forecast period.
• In terms of volume, procedure carts are anticipated to grow at the highest rate of 12.9% from 2017 to 2023.

 

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Asia-Pacific has witnessed highest growth rate for medical carts during the forecast period, and is expected to continue this trend. This is attributed to increase in sizeable population, rise in incidence of diseases and injuries, healthcare infrastructural development, and huge market potential, owing to the arrival of new and robust carts by key players focusing on the emerging markets.

 

Key players operating in the medical carts market have adopted product launch as their key developmental strategy, and focus on launching innovative products to cater to the consumer requirements and strengthen their market share. The major companies profiled in the report include InterMetro Industries Corporation (A Part of Ali Group), Harloff Company (Harloff Manufacturing Co.), Armstrong Medical, Capsa Solutions LLC., Omnicell Inc., Medline Industries Inc., ITD GmbH, Midmark Corporation, The Bergmann Group, and Life-Medic HealthCare Supplies Pte Ltd.

 

The other key players in the value chain include Jegna, Herman Miller, Inc., Zhangjiagang Bestran Technology Co. Ltd., Merino International, BiHealthcare, Tianjin Xuhua Medical Equipment Factory, Medical Master, Hua Shuo Plastic Co., Ltd., Joson-Care Enterprise Co., Ltd., and Tonglu Rex Medical Instrument Co., Ltd.