The report “Cell Lysis Market by Product (Consumables (Enzymes, Detergent), Instruments (Sonicators)), Cell Type (Mammalian), Application (Protein Purification), End User (Biopharmaceutical & Biotechnology Companies) – Global Forecast to 2026″ The global cell lysis market size is projected to reach USD 4.1 billion by 2026 from USD 2.9 billion in 2021, at a CAGR of 7.2%. The growth in this market is attributed to the increasing government funding for research, high prevalence of diseases, and growing focus on personalized medicine.
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Consumables accounted for the larger share of the cell lysis market in 2020
Based on the product, the cell lysis market is segmented into consumables and instruments. In 2020, the consumables segment accounted for the larger share of the cell lysis market. The large share of this segment can be attributed to repeated purchase and high consumption, the high prevalence of diseases, and increasing funding for cell-based research.
By cell type, the mammalian cells segment accounted for the largest market share in 2020
Based on the cell type, the cell lysis market is segmented into mammalian cell, microbial cell and other cell. The mammalian cell segment accounted for the largest market share in 2020. The increasing investments in research activities to develop new disease treatments and industrial applications are major driving factors for this market.
Research laboratories and institutes are the largest end-users of the cell lysis market
Based on end-users, the cell lysis market is segmented into research laboratories & institutes, biopharmaceutical & biotechnology companies, and other end users. The research laboratories & institutes segment accounted for the largest market share in 2020 due to the increasing number of rising government funding for cell-based research.
North America dominates the global cell lysis market
The cell lysis market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2018, North America accounted for the largest share of the cell lysis market. The large share of North America can be attributed to factors such as the Growing stem cell and cancer research activities and the expanding biotechnology & pharmaceutical industries
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The major players in the cell lysis market are Thermo Fisher Scientific (US), Merck KGaA (Germany), Becton, Dickinson and Company (US), Danaher Corporation (US), Bio-Rad Laboratories (US), Cell Signaling Technology Inc. (US), Miltenyi Biotec (Germany), Roche Diagnostics (Switzerland), and QIAGEN N.V. (Netherlands).
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The report “Therapeutic Hypothermia Systems Market by Product (Cooling Devices, Cooling Catheters, Cool Caps), Application (Neurology, Cardiology, Neonatal Care), and Region (North America, Europe, Asia- Pacific, RoW) – Global Forecast to 2028″, is projected to reach USD 396 million by 2028 from USD 291 million in 2023, at a CAGR of 6.3% during the forecast period. The growth of this market is majorly driven by the growing number of hypothermia cases, the growing number of road accidents and sports injuries, the rise in the prevalence of traumatic brain surgery, the rise in the geriatric population, and the growing prevalence of chronic and infectious diseases.
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The cooling devices segment is expected to account for the largest share in 2022.
The therapeutic hypothermia systems market, by product, has been segmented into cooling devices, cooling catheters, and cool caps. In 2022, the cooling devices segment dominated the products market. This segment is also estimated to grow at the highest CAGR during the forecast period. The large share is due to its increasing importance in cardiac arrest, and it is less labor-intensive and easier to use.
The neurology segment held the largest market share in the therapeutic hypothermia systems market.
Based on the application, the therapeutic hypothermia systems market is segmented into Neurology, Cardiology, Neonatal care, and other applications. The neurology segment dominated the therapeutic hypothermia systems market in 2022. The large share of this segment can be primarily attributed to the growing incidence of various neurological disorders such as Traumatic brain injury, strokes, and brain and brain tumors.
North America dominates the global therapeutic hypothermia systems market.
Based on the region, the therapeutic hypothermia systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North American market is driven by an increase in the incidence of cardiac arrests and neurological disorders and the availability of technologically advanced products. The Asia Pacific segment is projected to register the highest CAGR during the forecast period. Developing healthcare infrastructure, a rise in medical tourism, and government initiatives to increase the affordability of healthcare services are some of the major factors driving the growth of this regional market.
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Major players in the therapeutic hypothermia systems market include ZOLL Medical Corporation (Japan), Becton, Dickinson and Company (US), and Stryker Corporation (US).
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The report “Spinal Implants Market by Product (Devices (Thoracic, Cervical, Interbody Fusion, Spinal Non-Fusion), Biologics, Stimulators), Application (VCF, Spinal Decompression, Fusion, Non-Fusion), Surgery (Open, MIS), Region & Customer Unmet Need Forecast to 2028″, is projected to reach USD 14.3 billion by 2028 from USD 11.2 billion in 2023, growing at a CAGR of 5.0% during the forecast period. The expansion of the spinal implants market is propelled by several synergistic factors, including increasing demand for minimally invasive surgical procedures, escalating spinal disorder prevalence, rising geriatric patient population, growing public-private investments to support for the clinical research and the presence of key market players in developing regions.
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Non-Fusion Devices segment to register a significant growth rate over the forecast period of 2022-2028.
Based on the product, the spinal implants market is segmented into Thoracic Fusion and lumbar Fusion Devices, Cervical Fusion Devices, Spine Biologics, Spinal Decompression Devices, Non-Fusion Devices, Vertebral Compression Fracture Treatment Devices, and Spine Bone Stimulators. The surge in spinal disorder and non-fusion procedures often involve less disruption to surrounding tissues and may result in shorter recovery times. Furthermore, The adoption of non-fusion devices in spinal implants reflects a shift toward more patient-centered, minimally invasive approaches that aim to address spinal conditions while preserving motion and reducing the potential for complications associated with fusion surgeries are significant contributors to this segment’s substantial market share.
Open Surgeries segment accounted for the significant share of the spinal implants market in 2022-2028.
Based on the type of surgery, Open Surgeries is the preferred application for surgeons in spine surgical procedures for complex spinal deformities, such as severe scoliosis or advanced kyphosis. The direct visualization provided by open procedures allows surgeons to address intricate anatomical abnormalities more effectively. Additionally, In trauma cases, open procedures are often used when the surgeon needs quick access to treat fractures, dislocations, and other severe injuries., is anticipated to bolster the segment’s growth.
North America to account for a significant market share in the spinal implants market in 2022.
Based on region, The spinal implants market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with North America dominating the market share in 2022. This dominance in North America is propelled by factors such as a growing elderly population, a high incidence of spinal disorder, a rise in demand for minimally invasive surgical procedures, and the presence of well-established players with robust spinal implants portfolios. Furthermore, growing research and funding initiatives from public and private organizations are expected to further boost the spinal implants market in North America.
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As of 2022, prominent players in the spinal implants market are Medtronic (Ireland), Depuy Synthes- Johnson & Johnson (US), NuVasive (US), Spineart (Switzerland), RTI Surgical (Germany), Zimmer Biomet Holdings (US), Globus Medical Inc. (US), Abbott Laboratories (US) and Boston Scientific Corporation (US), Stryker Corporation (US), among others.
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According to research report the “Spatial Genomics and Transcriptomics Market is projected to grow from USD 355 million in 2022 to USD 800 million by 2027 at a CAGR of 17.6%. The major factors driving the growth of the spatial genomics and transcriptomics market are the increasing adoption of spatial genomics and transcriptomics techniques for drug discovery & development and the increasing R&D investments and public-private funding. Additionally, introducing technologically advanced instruments for spatial genomics analysis boosts the market growth.
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Spatial Transcriptomics techniques accounted for the largest share of the spatial genomics & transcriptomics market
Based on the technique, the spatial genomics and transcriptomics market is segmented into spatial transcriptomics techniques and spatial genomics analysis techniques. In 2021, the spatial transcriptomics techniques segment accounted for the largest share of the global spatial genomics and transcriptomics market. Growth in this market segment can be attributed to the high adoption of spatial transcriptomics in drug discovery and development, introduction of novel products, increasing R&D investments and public-private funding.
Consumables is the largest-growing product segment of the spatial genomics & transcriptomics market
Based on product, the spatial genomics and transcriptomics market is segmented into consumables, instruments, and software. In 2021, the consumables segment accounted for the largest share of the product segment of spatial genomics and transcriptomics market. Market growth can largely be attributed to the growing applications of spatial genomics and transcriptomics in drug discovery & development and biomarker identification and the growing use of consumables.
North America accounted for the largest share of the spatial genomics & transcriptomics market
North America held the largest share in the global market, followed by Europe. The large share of the North American regional segment can be attributed to the rising focus on drug discovery & development, attributed to the growing incidence of chronic diseases and genetic diseases and the rapidly growing aging population, also supports the use of spatial genomics and transcriptomics operating in the spatial genomics and transcriptomics market in this region.
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The spatial genomics & transcriptomics market is consolidated in nature with prominent players in the spatial genomics & transcriptomics market include NanoString Technologies, Inc. (US), 10X Genomics (US), Illumina (US), Bio-Rad Laboratories (US), Bio-Techne Corporation (US), Standard BioTools Inc. (US), Genomic Vision SA (France), Akoya Biosciences, Inc. (US), Danaher Corporation (US), Natera, Inc. (US), PerkinElmer, Inc. (US), Seven Bridges Genomics (US), S2 Genomics, Inc. (US), Cantata Bio (US), Vizgen Corporation (US), BioSpyder Technologies Inc. (US), Optical Biosystems Inc. (US), Miltenyi Biotec (Germany), Ultivue Inc. (US), Lunaphore Technologies SA (Switzerland), Rebus Biosystems LLC (US), Resolve Biosciences (Germany), Singular Genomics, Inc. (US), and Veracyte (US).
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According to research report the laparoscopic instruments market is expected to reach USD 22.1 billion by 2026 from an estimated USD 12.3 billion in 2021, at a CAGR of 12.5%. Market growth can largely be attributed to factors such as the increasing adoption of minimally invasive surgeries over open surgeries, rising prevalence of colorectal cancer, increasing number of laparoscopic bariatric procedures, and technological advancements in the field of laparoscopy. Growing healthcare markets in emerging economies and enhancements in equipment capabilities in laparoscopic instruments are expected to offer significant growth opportunities for market players. However, reduced Medicare payments to healthcare providers in the US and the dearth of trained professionals in the field of laparoscopy are expected to restrain the growth of this market to a certain extent. Product recalls and gaps in infrastructural support for laparoscopic procedures pose a challenge in this market.
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In 2020, Intuitive Surgical (US) held the leading position in the laparoscopic instruments market. Intuitive Surgical is one of the pioneers in surgical robots, Intuitive Surgical has successfully established a brand of its own. FDA approvals for the company’s key products, such as the da Vinci X Surgical System, and the launch of its single-port platform in 2018 have further augmented the company’s position in the surgical robots market. Continuous advancements in its robotic systems have also helped the firm maintain a strong leading position. The company’s product portfolio mainly includes Dual Console X Systems, Single Console X Systems, Dual Console Xi Systems, Single Console Xi Systems, and SP Systems.
The medical laparoscopic robots segment is expected to account for the largest share of the laparoscopic isntruments market
Based on product, the global laparoscopic instruments market is segmented into medical laparoscopic robots, energy devices, insufflators, suction/irrigation systems, laparoscopes, hand instruments, closure devices, access devices, and accessories. Medical laparoscopic robots holds maximum share of the global laparoscopic instruments market in 2020. The increasing adoption of robot-assisted laparoscopic procedures and technological advancements in surgical robots contribute to the large share and high growth of this segment.
The bariatric surgery segment is expected to grow at the highest rate during the forecast period
Based on application, the global laparoscopic instruments market is segmented into general surgery, gynecological surgery, colorectal surgery, bariatric surgery, urological surgery and pediatric surgery.. The bariatric surgery segment is expected to grow at the highest rate during the forecast period. The high growth in the bariatric surgery segment can be attributed to the high prevalence of obesity and obesity-related disorders such as diabetes, stroke, and sleep apnea that have boosted the demand for laparoscopically performed bariatric surgeries.
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North America is expected to account for the largest share of the laparoscopic instruments market in 2020
In 2020, North America accounted for the largest share of the global market. The US accounted for the largest share of the North American market. The large share of North America in the global market can be attributed to the growth in the geriatric and chronically ill population, increasing number of minimally invasive surgeries, and technological advancements.
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According to research report the global “Healthcare IT Integration Market by Product (Interface Engine, Medical Device Integration, Media Integration), Service (Integration, Maintenance, Training, Consulting), End User (Hospital, Laboratories, Home Healthcare, Clinic) – Global Forecast to 2026″, is projected to reach USD 7.1 billion by 2026 from USD 3.9 billion in 2021, at a CAGR of 12.4%. The healthcare IT integration market is primarily driven by the substantial cost saving achieved through data integration in the healthcare industry; the increased use of connected care technologies during the COVID-19 pandemic; the rapid adoption of electronic health records and other healthcare IT solutions; the urgent need to integrate patient data into healthcare systems; and favourable government policies, funding programs, and initiatives to deploy healthcare IT integration solutions.
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The Services segment accounted for the largest market share in 2020.
The services segment accounted for a larger market share (60.8%) of the global healthcare IT integration market in 2020. Services account for a larger size of the healthcare IT integration solutions market owing to their indispensability.
Healthcare professionals rely heavily on service providers for consulting, data storage, installation, training, maintenance, and regular technology upgrades. The products segment is expected to exhibit the highest CAGR of 12.7% during the forecast period.
The rising adoption of healthcare IT integration solutions for simplifying the workflow of healthcare organizations; the growing need for data standardization; and the surging requirement to build, design, and implement standardized, interoperable networking platforms are likely to accelerate the growth of the healthcare IT integration services market during the forecast period.
The interface/integration engines segment accounted for the largest market share in 2020.
The healthcare IT integration market for products is classified into interface/integration engines, medical device integration software, media integration solutions, and other integration tools. In 2020, interface/integration engines accounted for the largest share (73.1%) of the healthcare IT integration products market.
The growth of the market for interface engines can be attributed to the increasing need for information exchange within healthcare service provider facilities and with other affiliated organizations. However, the medical device integration solutions segment is expected to witness the highest CAGR of 13.3% during the forecast period.
Factors such as the increasing adoption of EHR systems and other interoperability solutions in healthcare organizations, a growing number of regulatory requirements and healthcare reforms, the rising preference for home care settings, and the surging need to integrated healthcare systems to improve healthcare quality and outcomes are propelling the growth of the medical device integration software market.
The support and maintenance services segment accounted for the largest market share in 2020.
The healthcare IT integration market for services is segmented into implementation and integration services, support and maintenance services, training and education services, and consulting services. In 2020, support and maintenance services accounted for the largest share (56.0%) of the healthcare IT integration market for services.
Support and maintenance services take care of interoperability and software complexity issues. These services ensure that clients (healthcare providers) obtain access to the vendor company’s technical knowledge base, gain support from its product support team, and acquire application management skills.
The Hospitals segment accounted for the largest market share in 2020.
Based on end user, the healthcare IT integration market is categorized into hospitals, laboratories, clinics, diagnostic imaging centres, and other end users (telehealth service providers, pharmacies, home healthcare companies, nursing homes, and long-term care centres). In 2020, hospitals accounted for the largest share (71.8%) of the healthcare IT integration market.
North America was the largest regional market for healthcare IT Integration market in 2020
The healthcare IT integration market is segmented into five major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share (57.2%) of the healthcare IT integration market, followed by Europe (22.9%).
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Key players offering healthcare IT integration market include Infor (US), InterSystems Corporation (US), Cerner Corporation (US), Orion Health (New Zealand), NextGen Healthcare, Inc. (US), iNTERFACEWARE, Inc. (Canada), Allscripts Healthcare Solutions, Inc. (US), Epic Systems Corporation (US), AVI-SPL, Inc. (US), Corepoint Health (Lyniate) (US), and Oracle Corporation (US). These companies adopted strategies such as service launches, business expansions, agreements, partnerships, collaborations, and acquisitions to strengthen their presence in the healthcare IT Integration market.
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The gene editing market is projected to grow from USD 5.3 billion in 2023 to USD 10.6 billion by 2028 at a CAGR of 15.0%. Gene editing or genome engineering is the insertion, deletion, or replacement of DNA at a specific site in the genome of an organism or cell. It is usually achieved in the lab using genome-editing tools, such as CRISPR, TALEN, and ZFN. This emerging and rapidly evolving field enables the efficient and directed modification of cell lines and genomes of animals and plants.
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OPPORTUNITY: Expanding pipeline for gene therapy
The expanding pipeline for gene therapy in the gene editing industry presents significant opportunities for advancements in treating genetic disorders and other diseases. Gene therapy involves the delivery of therapeutic genes or gene editing tools into the patient’s cells to correct genetic mutations, restore normal gene function, or introduce therapeutic genes for targeted treatment. The growing number of gene therapy candidates in the development pipeline highlights the potential for transformative breakthroughs in personalized medicine and the treatment of previously incurable diseases.
CHALLENGE: High equipment costs
The costs associated with gene editing equipment can be substantial. For instance, gene editing technologies like CRISPR-Cas9 require specialized laboratory equipment, including DNA sequencers, thermal cyclers, electroporation devices, and fluorescence microscopes. These instruments can have high price tags, ranging from thousands to millions of dollars. In addition to equipment costs, procuring quality reagents, such as nucleases, guide RNAs, and donor templates, can contribute to the overall expenses.
North America dominates the global gene editing market throughout the forecast period
The gene editing market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, North America accounted for the largest share in the gene editing market, which is attributed to the technological advancements, established research infrastructure, and demand for precision medicine.
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The prominent players in the global gene editing market include Merck KGaA (Germany), Thermo Fisher Scientific, Inc. (US), GenScript (China), Agilent Technologies (US), PerkinElmer (US), Lonza (Switzerland), Tecan Life Sciences (Switzerland), Sangamo Therapeutics (US), Editas Medicine (US), CRISPR Therapeutics AG (Switzerland), Precision Biosciences (US), Cellectis (France), Intellia Therapeutics (US), Bluebird Bio, Inc. (US), Regeneron Pharmaceuticals (US), AMSBIO (England), Creative Biogene (US), Synthego Corporation (US), and Beam Therapeutics Inc. (US).
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According to research report the optical imaging market by Product (Cameras, Lenses), Technique (OCT, HIS, NIR, PAT), Therapeutic Area (Ophthalmology, Dermatology, Oncology), Application (Pathological, Intraoperative), End User (Hospital, Research Labs) – Global Forecast to 2027″, is projected to reach USD 2.9 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 13.5%. The market is expanding as a result of factors such as an aging population, an increase in R&D in the life sciences, growing patient expectations for quick and simple diagnosis and treatment, rising information availability and knowledge, and expanding access to health care in Rapidly Developing Economies (RDE) are some other key factors influencing the market’s growth.
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Based on product, the imaging systems segment is expected to account for the largest share of the optical imaging market
Need for good quality equipments and technologies are increasing in recent times, leading to continuous development by market players. Growing competitiveness among players in the market calls for new improved systems and devices to be introduced in this market. Need for non invasive, non contact optical imaging modality with no harmful radiation is an additional factor influencing the market growth. Second to the imaging systems segment, is camera market. Small size, better sensitivity, and high-resolution imaging capability, are expected to drive the greater adoption of cameras for different medical diagnostics applications.
On the basis of application, pathological segment is expected to account for the largest share of the optical imaging market
One of the main drivers of market expansion in the pathological category is the high demand for optical imaging systems in the diagnosis of eye disorders, tumor detection, cardiovascular diseases, skin lesions, and other such illnesses. The popularity of optical imaging systems for pathological application is being fueled by non-invasiveness, precise image capture capabilities, and greater adoption in clinical practice, which is affecting market growth. Due to its low operational costs and relative ease of use, pathological imaging is widely used by clinicians worldwide. Specificity and efficacy of diagnosis is enhanced in this segment due to the use of optical imaging instruments.
DRIVERS: Increasing prevalence of eye disorders due to the rising geriatric population
The growing prevalence of eye disorders, owing to the rising global geriatric population, is one of the key factors driving the growth of the global market. The tear layer loses stability and degrades faster in the elderly, making them more prone to eye disorders. Therefore, the risk of getting severe eye disorders increases significantly with age, particularly after 60 years. Currently, the prevalence rate of glaucoma is four times higher in individuals aged 80 years and above as compared to those aged 40 years and above. Also, the prevalence rates of several other eye disorders, such as cataract, presbyopia, and age-related macular degeneration (AMD), is increasing across the globe. For instance, according to Prevent Blindness (US), 24.41 million people were suffering from cataracts in the US in 2010; this number is expected to increase to 50.0 million by 2050.
OPPORTUNITIES: Emerging economies
Emerging countries such as India, China, Japan, and Brazil are expected to provide significant growth opportunities for players operating in the global market. These countries are some of the fastest-growing economies in the world. According to estimates from the World Economic Forum, 2020, these emerging economies contributed to around one-third of the global healthcare expenditure. The rise in geriatric population and diseases associated with it are also certain factors that create high growth opportunities for the market.
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Key Market Players:
Prominent players in the optical imaging market include Carl Zeiss Meditec (Germany), Abbott (US), Topcon Corporation (Japan), Canon (Japan), PerkinElmer (US), Koninklijke Philips (Netherlands), Heidelberg Engineering (US), Leica Microsystems (Germany), Headwall Photonics (US), Visionix (US), Optical Imaging (Israel), Optos (Scotland), Wasatch Photonics (US), ArcScan (US), DermaLumics (Spain), Cylite (Australia), MOPTIM (Guangdong), Michelson Diagnostics (England), Thorlabs (US), Hamamatsu Photonics (Japan), iTheraMedical (Germany), Kibero (Germany), Seno Medical (US), Aspectus Imaging (Germany), and Agfa-Gevaert (Belgium).
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According to research report the report Dental Equipment Market by Product (Therapeutic (Dental chairs, Dental Units, CAD/CAM, Casting Machines, Dental Lasers, Nd:YAG lasers, Carbon dioxide Lasers), Diagnostic (Dental Imaging, CBCT)), End User (Hospitals & Clinics) – Global Forecasts to 2027″, is projected to reach 8.7 billion in 2027 from USD 6.5 billion in 2022, at a CAGR of 6.1% between 2022 and 2027. The overall growth of the dental equipment market is because of the growth of technology and solutions which is accounting to be a major factor driving the market during the forecast period. This increase can be attributed to increased prevalence of oral disorders and the rising desire for cosmetic procedures.
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During the forecast period, the Therapeutic dental equipment segment is expected to be the fastest growing segment of the dental equipment market.
Under type, therapeutic dental equipment segment is forecasted to grow at the highest CAGR from 2022 to 2027. The primary drivers of this market are the introduction of new technologies, particularly electrosurgical devices, which provide advantages for patients in terms of low operating costs, minimum bleeding, and less post-operative pain.
In 2021, by end user, hospitals clinics segment held the largest share of dental equipment market.
By end user, the dental equipment market can be segmented into hospitals and clinics, research and academic institutes and other end users.
Due to the rising awareness of dental disorders and their treatment, the hospitals and clinics segment occupied the largest share of the market in 2021. Additionally, there has been increase in adoption of new technologies and dental tourism which has attributed to the growth of the market.
Driver: New Technological Advancements
The increasing patient pool, demand for minimal invasive dental surgeries, and growing awareness is expected to increase the demand for extraoral imaging systems. This led to a wide range of electrosurgical systems adoption. In the past decade, the dental equipment has witnessed significant transformations and technological advancements in technologies.
Opportunity: Focus on Emerging Market
Fast developing countries such as Asia and Latin America regions such as India, China, and Brazil, shows a high demand for restorative dental products and equipments. Rapid increase in the incidences of dental diseases, developing oral healthcare infrastructure, willingness to spend on dental restoration products because of increasing disposable incomes, and rising awareness of oral hygiene are expected to spur the demand for dental prosthetics, restoration materials, and equipment in these regions.
In addition, favorable government policies and initiatives attracts various industry stakeholders to the markets. For instance, decrease of customs duty for dental products from 16 to 8% in India has opened opportunities for international players.
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Key players in the dental equipment market include DENTSPLY SIRONA Inc, (US), Align Technology Inc. (US), Envista Holdings Corporation (US), Carestream Dental LLC (US), and Planmeca Group (Finland). These companies adopted strategies such as partnerships, acquisitions, collaborations, product launches, expansions, and agreements to strengthen their presence in the dental equipment market.
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The global veterinary reference laboratory market is projected to reach USD 6.4 billion by 2027 from USD 4.1 billion in 2022, at a CAGR of 9.3% during the forecast period. The main factors driving this market are rising pet population in developed country, people are more interested in insuring their pets, and rising demand for milk and related products.
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Driver: Growth in the companion animal population
The global demand for animal-derived food products, including beef, veal, buffalo meat, mutton, lamb and goat meat, pork, poultry meat, milk and dairy products, and eggs, is increasing. Livestock products account for 17% of kilocalorie consumption and 33% of protein consumption globally; however, this figure varies across developed and developing countries. The overall livestock sector is expected to witness significant growth due to the high consumption of animal-derived food products. An FAO (Food and Agriculture Organization of the United Nations) survey on mapping the supply and demand for animal-sourced food estimates that Asian countries will register the highest growth in the demand for livestock products such as beef, milk, mutton, pork, and poultry products (chicken and eggs).
Restraints: Growing demand for rapid tests, POC testing and portable instruments
Portable diagnostic instruments meant for POC testing are witnessing growing adoption in the veterinary diagnostics space, mainly due to the challenges encountered in conventional testing, such as the collection and transportation of samples to a high-quality veterinary reference laboratory. This is particularly difficult in the case of rural or remote areas. Hence, major players in this market are focusing on launching portable instruments for field veterinarians for use in remote locations and emergencies.
Rapid tests are also gaining popularity owing to their ease of use, specificity, reproducibility, and low cost. This has correspondingly driven companies to focus on introducing rapid tests that can deliver definitive results in less than 24 hours or even during the course of the initial examination. New technologies that can ensure rapid result generation and real-time convenience of diagnosis will reduce the number of samples shared with reference laboratories by hospitals, clinics, and farms, which is expected to hamper the growth of this market.
Opportunity: Public-private partnerships in veterinary health
Most research institutions and pharmaceutical companies in the private sector offer a broad portfolio of services that include developing new technologies and capabilities for providing services, genetic evaluation, micro-financing farmers & other livestock owners, and training & workshops to educate farmers. Governments also partner with private companies involved in such activities to provide support while restricting their role in monitoring, evaluation, and surveillance.
For example, in Mali, livestock animals contribute close to 80% of the revenue for the rural population, making it essential for citizens to regularly vaccinate and monitor animals for their health. A PPP between the National Veterinary Services and private veterinarians helped the country improve its livestock vaccination coverage for several diseases.
The OIE also released a handbook during its general session (2017) to educate stakeholders on public-private partnerships in the veterinary domain under three different clusters—transactional, collaborative, and transformative. Under transformative PPP, OIE decided to develop guidelines to initiate joint programs with national veterinary services on disease control, product supply, and genetic evaluation. Such PPP initiatives will continue to contribute to the growth of the market and provide fresh opportunities for companies.
Challenge: Shortage of veterinarians in emerging markets
The global animal healthcare industry is marked by a shortage of skilled veterinarians and pathologists. This is particularly evident in the emerging markets across the Asia Pacific and Latin America, which show a huge gap in the demand and supply of veterinary professionals. According to the World Animal Health Information Database (2017), there were 180,821 veterinary professionals in India. According to the 20th Livestock Census (2019), India’s total livestock population was 535.8 million; this translates into a requirement of 60,000 veterinarians catering to bovine animals alone. The demand will increase if poultry, sheep, goats, pigs, and other animals are considered. Similar shortages are observed in other developing countries such as Brazil, China, and Southeast Asian countries.
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Prominent players in the Veterinary Reference Laboratory Market include IDEXX Laboratories, Inc. (US), VCA, Inc. (US), GD Animal Health (Netherlands), Zoetis Inc. (US), NEOGEN Corporation (US), LABOKLIN GmbH (Germany), SYNLAB International GmbH (Germany), Heska Corporation (US), Virbac (US), and Thermo Fisher Scientific, Inc. (US). These companies play a vital role in shaping the market landscape.
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