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Growing cases of allergy incidences are increasing the number of referrals to allergy clinics. This has led to an increase in the number of waiting-list patients seeking allergy diagnostic & treatment. This longer waiting time for treatment can led to eruption of severity in allergy patients. According to a latest research by Future Market Insights (FMI), the global allergy diagnostics market is anticipated to account for over US$ 4,000 Mn, in terms of value, by 2022 end. The report on allergy diagnostics further projects significant growth potential with average year-on-year growth rate pegged at 10% through 2022.
According to the Food Allergy Research & Education (FARE), approximately 200,000 patients suffering from food allergies in the U.S. require emergency medical care every year. Such cases of food allergies have surged the demand for home-based allergy diagnostic techniques. Patients with history of food allergy are becoming self-aware about allergy epidemics. Allergic reactions to anaphylaxis is one of the major causes of food allergies and affect more than 40% of the children witnessing allergic reactions. The growing number of children suffering from allergic reactions is also increasing the number of patients that qualify for protection under the Americans with Section 504 of the Rehabilitation Act of 1973 & Disabilities Act of 1990 (ADA). This factor, in particular, is likely to play an instrumental role in driving the growth of the allergy diagnostic market.
A rapid increase in the number of allergic patients and longer waiting time for allergy diagnostic & treatment has created the need for more advanced and rapid allergy diagnostic solutions. Hence, in order to overcome this alarming situation, companies have introduced ready-to-use allergy diagnostic kits which can be used for on-site testing. Lateral flow assay technology in allergy diagnostic has been playing an important role as its increases allergy diagnostic test sensitivity and specificity of point of care allergy tests.
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Drug allergies are the second most prominent type of allergic reactions in the global allergy diagnostic market. According to the Asthma and Allergy Foundation of America, 10% of the patient population prescribed with antibiotics witnesses allergic reactions, especially while consuming penicillin. This number gets doubled for all hospitalized patients. Conventional blood testing approach is more popular in drug allergy diagnostic due to its higher test specificity. Blood-based allergy test in allergy diagnostic are more reliable in case of server delayed reactions. However, skin prick tests/patch tests are more popular for antibiotics allergy diagnostic tests. Diagnostic laboratories performing allergy diagnostics are the primary point of contact for patients experiencing allergy shocks. According to FMI, the diagnostic laboratories segment accounted for over 40% revenue share in the overall allergy diagnostic market in 2017. However, the growing popularity of point of care allergy diagnostic and its crossover success in clinical studies for developing rapid allergy diagnostic solutions might limit the segment’s growth in near future.
Diversification of food consumption in Asia region signifies varied difference in allergens. Difference in type of food allergens between West and East Asia leads to demand for a unique test measure. Further, the growing number of allergic incidences in Asia Pacific region due to migration of people for education and employment is likely to boost the growth of the allergy diagnostics market in the Asia Pacific region. Increasing geriatric population and rising disposable income in Japan is expected to surge the demand for more advanced allergy diagnostic solutions. Japan allergy diagnostic market is estimated to create absolute $ opportunity worth approximately US$ 150 Mn between 2017 and 2022.
FMI has segmented the global allergy diagnostic market into assay kits, consumables and instruments. In terms of revenue, the instruments segment in allergy diagnostic will hold significant share over the forecast period. In contrary, the services segment in allergy diagnostic market will exhibit limited investment opportunities, in terms of revenue, through 2022.
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FMI’s report tracks some of the key companies operating in the allergy diagnostics market, such as Hitachi Chemical Co., Ltd Thermo Fisher Scientific, Inc., Siemens Healthineers, Danaher Corporation,., HOB Biotech Group Co, bioMérieux, Hycor Biomedical Inc Stallergenes Greer, R-Biopharm AG and Lincoln Diagnostics, Inc.
(Added: Thu Jan 24 2019 Hits: 1 Rating: 0.00 Votes: 0) Rate ItA new study by FMI titled 'Biopharmaceutical Contract Manufacturing Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017–2027', has listed out the key points being considered by Biopharmaceutical contract manufacturing companies to emerge and stay sustainably profitable in the long run. The North American Biopharmaceutical contract manufacturing market is expected to expand at a CAGR of close to 10%, and is expected to remain as a main sink market for revenues, as most of the biopharmaceutical contract manufacturing facilities are located in this region. Europe is expected to remain as the main source market for biopharmaceutical contract manufacturing services. However, with the increasing demand and availability of large sterile spaces required for biopharmaceutical contract manufacturing in countries such as China, the biopharmaceutical contract manufacturing market is witnessing a move to Asia, to countries such as China and South Korea.
The report finds that Biopharmaceutical contract manufacturing capacity is tight across the industry, regardless of the location. Globally, biopharma companies have spent over US$ 50 Bn in just the past five years on new plants and equipment. Much of that has been in tax havens like Ireland and Singapore, and in emerging markets. About a quarter of the projects have been in the U.S. There just aren’t enough facilities, and those that are available are too old for modern drugs. It takes nearly four years to design, build, and qualify a new plant. Large-scale plants can cost between US$ 1 Bn and US$ 2 Bn. Patheon’s recent acquisition of Roche’s small facility in biopharmaceutical contract manufacturing sector was attractive because it was inexpensive, but is far from the norm. Much of the ongoing capacity expansion in the biopharmaceutical contract manufacturing industry is customer-funded.
Biosimilar and biologics manufacturing are presenting strong growth opportunities for biopharmaceutical contract manufacturing organizations. The global biopharmaceutical contract manufacturing market is in a state of large consolidation, as participants in the biopharmaceutical contract manufacturing market look to inorganic growth strategies to offer integrated solutions to customers. For instance, leading players in biopharmaceutical contract manufacturing market - Patheon, Catalent, and AMRI have acquired IRIX Pharmaceuticals, Pharmatek, and Euticals, respectively. These biopharmaceutical contract manufacturing companies have been aggressive in expanding their products/services/capabilities through strategic alliances. Similarly, Aenova maintained its market position in the biopharmaceutical contract manufacturing market after the acquisition of Haupt Pharma AG, and by selling its Temmler business in 2015. Both, biopharmaceutical contract manufacturing companies - Fareva and Famar have successfully adopted an integration strategy of acquiring manufacturing facilities in Europe from large pharmaceutical companies.
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Reinventing the European advanced therapies sector may fuel outsourcing activities to biopharmaceutical contract manufacturing players in the region. The next generation therapy market is driven by biological treatment options. These biologics demand more research and clinical trials, and hence, to reduce the cost, most research activities are outsourced to biopharmaceutical contract manufacturing players. The region is richly endowed with venture capitalists, which makes the availability of funding easier for biopharmaceutical contract manufacturing organizations. Potential margins for biopharmaceutical contract manufacturing companies are better in Europe as compared to the U.S. Factors noted by customers while approaching a biopharmaceutical contract manufacturing company are various. As per a NICE survey, a biopharmaceutical contract manufacturing company is selected based on location, quality of service, cGMP compliance, specific expertise in therapeutic area of focus, reputation and area of expertise, and infrastructure.
The top activity outsourced to biopharmaceutical contract manufacturing companies is analytical testing, followed by toxicity testing and fill/finish operations. Dominant outsourcing activities across the biopharmaceutical sector are restricted to services where a high degree of specialization may be required. While outsourcing to biopharmaceutical contract manufacturing companies can address a host of limitations, it comes with its own set of problems - protecting intellectual property rights, effectively handling cross-contamination issues, and complying with quality standards.
Rising focus on cost-effective biopharmaceutical contract manufacturing and the popularity of biosimilar added with the existence of patent cliff of blockbuster biologic drugs in the near future is expected to boost the growth of the biopharmaceutical contract manufacturing market. Big biopharmaceutical companies focusing on reduction in operating costs through the outsourcing of R&D and commercialization of biologic drugs to biopharmaceutical contract manufacturing companies could also increase the growth of the biopharmaceutical contract manufacturing market during the forecast period. However, complex manufacturing guidelines & regulatory processes, limited capacity for large-volume biopharmaceuticals, and high investments requirement to establish a biopharmaceutical contract manufacturing facility will continue to pose challenges to widespread adoption of outsourcing services in biopharmaceutical contract manufacturing market.
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Some of the key biopharmaceutical contract manufacturing companies analyzed in this report titled Biopharmaceutical contract manufacturing market include Lonza Group Ag, Baxter Healthcare Corporation, Samsung Biologics Co., Ltd., Fujifilm Diosynth Biotechnologies, Boehringer Ingelheim GmbH, Patheon N.V., Rentschler Biotechnologie GmbH, Biomeva GmbH, ProBioGen AG, Cytovance Biologics Inc, Kbi Biopharma Inc, WuXi Biologics (Cayman) Inc., Abzena Plc, Vetter Pharma International GmbH, Sandoz International GmbH, Catalent Inc, and AbbVie Contract Manufacturing.
(Added: Wed Jan 23 2019 Hits: 1 Rating: 0.00 Votes: 0) Rate ItIn a recent global market study, the analysts of Future Market Insights examined the various factors impacting revenue growth of the global orthopaedic bone cement and casting materials market. An increasing prevalence of orthopaedic disorders and patient preference towards quality treatment for a better lifestyle are primarily responsible for fuelling market demand for orthopaedic bone cement and casting materials. The analysts have presented their forecasts along with the key market dynamics including revenue drivers, growth restraints, and market opportunities and trends in a new publication titled “Orthopaedic Bone Cement and Casting Materials Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027” that presents detailed forecasts of the global orthopaedic bone cement and casting materials market for a period of 10 years (2017 – 2027) by benchmarking the historical market estimations from 2012 to 2016.
Factors Impacting Revenue Growth of the Global Orthopaedic Bone Cement and Casting Materials Market
Future Market Insights analysis reveals the various factors that are likely to boost the growth in adoption of orthopaedic bone cement and casting materials. A growing number of people suffering from bone diseases such as osteoporosis, an increasing number of sports injuries and accidents leading to fractures of the bone, and the availability of advanced treatment options for severe back pain are some of the factors likely to drive the market towards high revenue growth in the coming decade.
The global orthopaedic bone cement and casting materials market is also likely to witness a few trends in the near future. Growing research and development activities in the field of orthopaedics and increasing use of casting materials to treat orthopaedic injuries are expected to increase in the next few years, impacting the global market for orthopaedic bone cement and casting materials significantly.
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Global Orthopaedic Bone Cement and Casting Materials Market: Regional Analysis & Forecast
Future Market Insights has tracked the performance of the global orthopaedic bone cement and casting materials market across the key geographies of North America, Latin America, Western Europe, Eastern Europe, Japan, APEJ, and MEA. Unsurprisingly, North America is the dominant regional market with estimated revenues in excess of US$ 1,400 Mn by the end of 2027, witnessing a CAGR of 5.1%. The APEJ orthopaedic bone cement and casting materials market is estimated to be valued at almost US$ 940 Mn by the end of 2027, recording an impressive CAGR of 9.7% – the highest among all the regional markets. The Western Europe regional market is slated to register a CAGR of 7.1% during 2017 – 2027.
Global Orthopaedic Bone Cement and Casting Materials Market: Segmental Forecasts
Forecast by Product Type: The global orthopaedic bone cement and casting materials market is segmented on the basis of product type into Bone Cement and Casting Materials. The Bone Cement segment is expected to be the most lucrative product type segment with an attractiveness index of 1.1 and a CAGR of 6.9% in terms of value.
Forecast by Application: The global orthopaedic bone cement and casting materials market is segmented on the basis of application into Joint Arthroplasty, Trauma Cases, Sports Injury, Spine Surgeries, and Others. Joint Arthroplasty is the most lucrative segment by application and also the largest, estimated to reach a market valuation of US$ 1,458.6 Mn by the end of 2027, registering a CAGR of 7.3%.
Forecast by End User: The global orthopaedic bone cement and casting materials market is segmented on the basis of end user into Hospitals, Ambulatory Surgical Centres, and Orthopaedic Clinics. Hospitals is the largest end user segment, estimated to reach a market valuation of just under US$ 2000 Mn and witness a growth rate of 7.0% between 2017 and 2027.
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Global Orthopaedic Bone Cement and Casting Materials Market: Competitive Landscape
The report profiles some of the top companies operating in the global orthopaedic bone cement and casting materials market such as DJO Global, Inc., Heraeus Holding, Zimmer Biomet, BeneCare Medical, BSN medical, Stryker, 3M Health Care Ltd., DePuy Companies (Sub. Johnson & Johnson Services, Inc.), Smith & Nephew Plc, Exactech, Inc., Medtronic, Inc., B. Braun Melsungen AG, Cook Medical, SOMATEX® Medical Technologies GmbH, TEKNIMED, T-Tape Company B.V., Lohmann & Rauscher GmbH & Co. KG, MIKA MEDICAL, Össur, and Innovation Rehab LTD.
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