Overview of the global dermatology diagnostic devices market
Market research analysts at Technavio predict that the global dermatology diagnostic devices market will grow steadily and post a CAGR of around 9% by 2020. One of the key drivers for this market will be the increasing demand for advanced dermatology diagnostic services. The introduction of dermatoscopy to diagnose skin conditions will simplify the diagnostic approach and enable ease of use for physicians. Additionally, factors like advancements in technology, especially in the field of dermatology diagnostic devices will also enhance the accuracy and sensitivity of detection mechanisms. Technological innovation promotes the use of digital dermatoscopy for the early detection of non-malignant melanomas and the subsequent increase in the number of mobile-based technologies for diagnosis of conditions will also help patients in tracking and monitoring moles over a regular period of time.
The recent trend in the market is the growing importance of dermatology in the cosmetic industry. Dermatology procedures emphasize on the diagnosis, prevention, and treatment of skin-related diseases and involves the diagnosis and treatment of conditions such as benign skin growth, uneven skin pigmentation, fungal or bacterial infections, acne, and aging. Furthermore, the emergence of digital dermatoscopy to examine and diagnose skin disorders and the extensive use of OCT scanners will also help in the deep dermal analysis of skin tissues, making diagnosis more precise and specific.
Competitive landscape and key vendors
This market is extremely competitive and appears fragmented due to the presence of various regional and international players. The vendors compete on the basis of the cost of equipment, access to devices, and accuracy of diagnosis
Overview of the global clinical reference laboratory services market
According to the market research analyst at Technavio, the global clinical reference laboratory services market will grow progressively at a modest CAGR of approximately 6% by 2020. One of the major factors attributing to the growth of the market will be the usage of advanced robotics technology in reference laboratories as they increase productivity, elevate experimental data quality, and reduce lab process cycle times. Additionally, the application of laboratory automation technology will improve the efficiency and effectiveness of the diagnostics and testing process. With the help of this technology, laboratories will be able to perform critical activities such as thorough screening, combination chemistry, automated clinical and analytical testing, and large-scale biorepositories. It has been observed that there are expansions of new fully automated instruments such as immunostainer platforms in anatomic pathology or DNA extractors in molecular diagnostics with reduced processing time and low operating costs. Also, these devices help reference laboratories to handle the movement of specimens across disciplines, giving faster results to meet the turnaround time for clients.
The research analyst predicts that the Americas will dominate the market and post a CAGR of around 6% by 2020. The increasing focus on early detection and prevention of diseases, innovations of molecular and genetic technologies, and the revolution of personalized medicines are few of the factors that will contribute the growth of the market during the forecast period. The rising numbers of FDA approvals for new diagnostics procedures will result in vendors focusing on the launch of new, time-saving, and cost-effective diagnostics procedures to increase their market shares.
Competitive landscape and key vendors
It has been observed
Overview of the point-of-care (POC) coagulation testing market
Extensive research carried out by the analysts at Technavio has shown that the global point-of-care (POC) coagulation testing market will grow at a fast pace and will post a CAGR of more than 6% over the forecast period. The increasing penetration of POCT devices in developed countries is one of the significant factors driving the growth of this market. Moreover, the reimbursement system in most European countries like Spain and the UK has led to an augmented demand for diagnostic equipment, especially POCT devices. Additionally, the majority of POCT device manufacturers in developed countries are increasingly focussing on design to provide the latest in technology for quick and accurate diagnosis. This will enable healthcare providers to take the necessary precautions while conducting major surgeries. Also, the new-age POC coagulation testing devices are portable and easy to use, leading to their increased adoption in hospitals and clinics in the US and Western Europe.
In terms of geography, the Americas led the global POC coagulation testing market and is expected to hold close to 67% of the revenue market shares by 2020. The US was the largest revenue contributor in this region. The increase in pulmonary embolisms, stroke, and myocardial infarction caused by blood clotting disorders in the population is driving the market. Also, improved clinical diagnostic procedures and favorable initiatives by the WHO for the development of novel products is also anticipated to contribute to this market’s growth in the region.
Competitive landscape and key vendors
Outlook of the global hepatitis B and C diagnostics market
The analyst at Technavio, predicts that the global hepatitis B and C diagnostics market will grow steadily and post a moderate CAGR of approximately 6% by 2020. The rising demand for molecular diagnostic of HBV (hepatitis B virus) and HCV (hepatitis C virus) infections is one of the primary drivers for the growth of this market. Molecular diagnosis simplifies sample preparation for high-volume testing and includes identification and profiling of causative agents of infection and the quantification of pathogens to monitor durability of therapy; thus, resulting in sales of around 60% of the overall molecular diagnosis market. Additionally, new companies are also focusing on the development of new products, which, in turn, is expected to change market dynamics for the diagnosis of HBV and HCV infections. For instance, Cepheid recently announced a quantitative test that offers on-demand molecular testing for confirmation of infection and monitoring of HCV and has obtained CE-IVD (in vitro diagnostics) status under the European Directive on in-vitro diagnostic medical devices, making it one of the leading platforms for molecular diagnosis.
Increasing incidence of HBV and HCV infections in the Americas will contribute to the growth of the diagnostic market. According to the analyst at Technavio, the Americas will dominate the market, accounting for around 46% of the total market share by 2020. The recent increase in blood transfusion will result in the adoption of third-generation hepatitis C diagnostic tests like HCV enzyme immunoassay that contribute to the growth of the market in this region. Also, the implementation of biomarker-based POC (point-of-care) tests initiated by the government and non-profit organizations, is also expected to drive the market growth as the products are highly accessible and easy to use.
Competitive landscape and
Outlook of the blood culture tests market
Extensive research carried out by the analysts at Technavio has shown that the global blood culture tests market will witness tremendous growth and will post a CAGR of more than 7% over the forecast period. With the increasing outsourcing of blood samples to private reference laboratories, the blood culture tests market is anticipated to have a positive outlook in the coming years. Reference laboratories provide testing services for hospitals and in the areas of clinical trials, corporate wellness programs, genomics, insurance, toxicology, molecular diagnostics, and sample tracking. In this market, an increasing number of public hospitals are outsourcing services to independent reference laboratories due to budget constraints, lower turnaround time, and productivity gains, which will, in turn, propel this market’s growth over the next four years.
The augmented demand for rapid diagnostics tests is one of the significant trends impelling this market’s growth during the predicted period. Rapid diagnostics tests offer speedy identification of pathogens; thereby, aiding in the effective targeting of antimicrobial therapy in hospitals. Moreover, these diagnostic tests are cost-effective and accurate. Several advanced technologies like peptide nucleic acid fluorescent in situ hybridization (PNA-FISH) and targeted real-time PCR help lower hospital costs and reduce hospital stays significantly. These benefits emphasize the positive impact of rapid molecular testing in clinical laboratories.
Segmentation by technology and analysis of the blood culture tests market
- Conventional or manual blood culture
- Automated blood culture
During 2015, the conventional or manual blood culture segment dominated the market and accounted for a market share of
Outlook of the global blood processing devices and consumables market
This market study anticipates the global blood processing devices and consumables market to grow at an impressive CAGR of over 8% by 2020. Increasing instances of blood transfusion surgical procedures across the globe will aid in the strong growth of this market during the estimated period. Due to changes in lifestyle, lack of immunity, and other health-related issues, direct and indirect healthcare admission for treatment of medical conditions has increased. This increase in healthcare admissions will spur the need for blood transfusion devices as it provides safe and adequate blood supply to the public and helps maintain safety standards. Furthermore, with the increase in R&D initiatives in regenerative medicine and cell therapies, the global market for blood processing devices and consumables will witness stark growth until the end of the forecast period.
In terms of geography, the global market for blood processing devices and consumables will be dominated by the Americas, which accounted for around 45% of the overall market share during 2015. The extensive use of advanced automation technologies coupled with the large-scale installation of these devices across hospitals, clinics, and blood banks in this region will result in the America’s high market dominion during the next four years. In addition, the US’s high demand for pediatric blood transfusion will also lead to the growth of this market in the region.
Competitive landscape and key vendors
This market is characterized by the presence of major healthcare companies like Abbott Laboratories, BD, and
In-vitro diagnostics is one of the fastest-growing sectors in healthcare. Cost-containment strategies by healthcare entities have led to an increased focus on early diagnosis, preventive medicine, and personalized medicine.
This move towards preventive and personalized medicine is driving the adoption of in-vitro diagnostics, and vendors are focusing on developing tests for a wide range of applications for hospitals and laboratories, as well as for home care. The presence of a high number of market participants has significantly intensified competition.