Image-guided Therapy Systems Market Size Is Projected To Reach USD 5.8 Billion By 2028: Grand View Research Inc.

San Francisco, 29 April 2021: The Report Image-guided Therapy Systems Market Size, Share & Trends Analysis Report By Product (Endoscopes, MRI), By Application (Cardiac Surgery, Neurosurgery), By End-use (Hospitals, ASCs), And Segment Forecasts, 2021 – 2028

The global image-guided therapy systems market size is expected to reach USD 5.8 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.0% from 2021 to 2028. The growing geriatric population base and increasing cases of chronic diseases are expected to boost the market growth. Other factors propelling the market growth include a rising preference for minimally invasive surgeries and technological advancements in image-guided therapy systems. Various initiatives undertaken in the area of cancer radiotherapy are also driving the market.

New product launches by major companies are also having a positive impact on market growth. For instance, in September 2020, Olympus Corporation launched ENDO-AID, an AI platform and endoscopy application with computer-aided detection for gastrointestinal applications. The AI platform with an endoscopy system-EVIS X1 enables real-time display. The growing adoption of such advanced systems is expected to drive the market. The increasing number of initiatives undertaken by public and private firms in the area of cancer radiotherapy is also estimated to have a positive impact on market growth.

Many academic institutions are also investing in cancer radiotherapy projects for increasing the effectiveness of treatment therapies. This is also likely to contribute to market expansion. The development of the Image-guided Therapy Program by the Brigham and Women’s Hospital aimed at advancing imaging and therapeutic technologies for developing minimally invasive surgical and interventional techniques is an example of one such initiative.

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Image-guided Therapy Systems Market Report Highlights

• North America accounted for the largest share in 2020 owing to the rising geriatric population and high per capita expenditure
• By product, the endoscopes segment accounted for the largest revenue share in 2020 owing to technological advancements, a high volume of endoscope-guided surgeries, and the rising preference for minimally invasive surgeries
• By application, cardiac surgery emerged as the largest application segment in 2020 owing to factors, such as rising incidence of target diseases, increasing preference for minimally invasive cardiac surgeries, and R&D initiatives aimed at developing real-time cardiac intervention systems
• By end use, the hospitals segment accounted for the largest market share in 2020 as the hospital settings are equipped with technologically advanced devices
• The ambulatory surgery centers segment is projected to expand at the fastest CAGR of 6.5% over the forecast period

List of Key Players of Image-guided Therapy Systems Market

• Koninklijke Philips N.V.
• Medtronic
• Siemens Healthineers
• Analogic Corporation
• GE Healthcare
• Varian Medical Systems, Inc.
• Brainlab AG
• Olympus Corporation
• Stryker

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Bioanalytical Testing Services Market Size Is Expected To Reach USD 6.3 Billion By 2028: Grand View Research Inc.

San Francisco, 29 April 2021: The Report Bioanalytical Testing Services Market Size, Share & Trends Analysis Report By Molecule Type (Small Molecule, Large Molecule), By Test Type (ADME, PK, PD, Bioavailability, Bioequivalence), By Workflow, By Region, And Segment Forecasts, 2021 – 2028

The global bioanalytical testing services market size is anticipated to reach USD 6.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.6% from 2021 to 2028. The economic efficiency offered for outsourcing as compared to conducting an in-house study is encouraging the outsourcing of these services that is expected to boost the demand over the forecast period. Innovation or new molecule development is directly proportional to the demand for testing services. Due to pricing concerns, competitive pressures, and lead-time to market, companies are opting for outsourcing of testing services. The growing focus on customized care as well as on technological advancements is lowering the molecule lifecycle, which has resulted into rapid development of new molecules.

The market player’s performance in the pharmaceutical analytical testing domain is greatly influenced by the demand from end-user. Due to the increasing awareness level, intense market efforts, government initiatives, and improving accessibility, consumers, these days, are more anxious about personal care, leading to higher consumption of pharmaceutical products. The consumption levels are projected to rise exponentially over the forecast period.

Due to Covid-19 many universities has imposed complete campus lockdown and various other bioanalytical laboratories were suspended for sometimes. This has adversely impacted bioanalytical testing services industry. Also ‘wet lab’ bioanalytical research came to a complete standstill at several universities. But based on recent circumstances the situation has improved for many bioanalytical testing laboratories where activities can be continued in modified forms based on new guidelines. 

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Bioanalytical Testing Services Market Report Highlights

• Small molecule bioanalytical testing services held a lucrative share in 2020. This can be attributed to the maximum generic and branded drug compounds coming under this category
• The Bioavailability (BA) segment dominated the market in 2020 owing to the great demand for these services in generic drug manufacturing. Moreover, with the emergence of biosimilars, the demand for BA studies is expected to increase over the forecast period
• North America dominated the market in 2020. This can be attributed to the fact that it is one of the top manufacturing hubs of highly reliable, complex, and high-end pharmaceuticals
• Asia Pacific region is anticipated to witness the fastest CAGR over the forecast period. This is owing to many developed countries investing in the Asia Pacific region and various amendments to change the clinical trials evaluation standards according to the global platform

List of Key Players of Bioanalytical Testing Services Market

• PPD
• ICON plc
• Covance Inc.
• LabCorp
• Charles River Laboratories International, Inc.
• inVentiv Health
• SGS SA
• Toxikon, Inc.
• Intertek group
• Pace Analytical Services, LLC

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Burn Care Market Size Worth $ 3.7 Billion By 2028: Grand View Research Inc.

San Francisco, 29 April 2021: The Report Burn Care Market Size, Share & Trends Analysis Report By Product (Advanced Dressings, Biologics, Traditional Products), By Depth of Wound (Minor, Partial Thickness, Full Thickness), By Cause, By End Use, By Region, And Segment Forecasts, 2021 – 2028

The global burn care market size is expected to reach USD 3.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.9% from 2021 to 2028. Increasing incidences of burn injuries are anticipated to fuel the demand for cost-effective treatment over the forecast period. As per the WHO, 96.0% of fatal fire-related burns occur in low to middle-income countries. According to the data published by WHO, on average 265,000 deaths are caused by burns every year. The majority of these deaths occur in low to middle-income countries and half of them occur in South East Asia. Moreover, around 1,000,000 people in India are moderately or severely burnt and around 173,000 children in Bangladesh are burnt each year. It also reported that in the U.S., approximately 4,500 burn victims die annually and 10,000 die due to burn-related infections. Owing to this substantial increase in the number of burn incidences, the patient population for burn care and treatment has increased. This in turn is expected to drive market growth over the forecast period.

Furthermore, due to the rising incidences of burn, the demand for treatment options is increasing and as a result, the overall healthcare expenditure on burn care is increasing. Treatment options for burn care include advanced dressings, biologics, traditional burn care products, and others. The foam dressings developed from semipermeable polyurethane are waterproof and can be used on heavily exuding wounds. As a result of which they are preferred over normal dressings which are not waterproof and need to be changed regularly.

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Burn Care Market Report Highlights

• The moist wound dressing segment dominated the market in 2020 due to the rising technological advancements and increasing demand for advanced treatment options
• On the basis of depth of wound, the partial thickness burn segment is anticipated to witness the fastest growth over the forecast period. The growth of the segment is attributable to the favorable reimbursement policies in the developed countries
• The hospitals segment accounted for the largest share of the market owing to the increasing incidence of burn injuries and hospitalizations each year
• The thermal burns segment held the largest share of the market in 2020 owing to a high incidence of fire-related burn injuries

List of Key Players of Burn Care Market

• 3M
• Hollister Incorporated
• Cardinal Health
• Integra LifeSciences Corporation
• KCI Licensing, Inc. (Acelity L.P. Inc.)
• Coloplast Corp.
• DeRoyal Industries, Inc.
• Smith & Nephew
• ConvaTec Inc.

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Smoke Evacuation Systems Market Expected To Witness A Substantial Growth Of USD 285.5 Million By 2028: Grand View Research Inc.

San Francisco, 29 April 2021: The Report Smoke Evacuation System Market Size, Share & Trends Analysis Report By Product, By Application (Laparoscopic Surgeries, Orthopedic, Medical Aesthetic Surgeries), By End-use, By Region, And Segment Forecasts, 2021 – 2028

The global smoke evacuation systems market size is expected to reach USD 285.5 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2021 to 2028. Factors contributing to the growth of this market include an increase in medical tourism for cosmetic surgeries, electrosurgery procedures, and increased product availability.

Currently, elective and endoscopic procedures are delayed due to the outbreak of COVID-19 to reduce the risk of transmission to other patients with chronic conditions. According to the Society of American Gastrointestinal and Endoscopic Surgeons, it is recommended to use electrosurgery pencils with attached smoke evacuators instead of monopolar electrosurgical and advanced bipolar devices and ultrasonic dissectors. Moreover, high-flow vacuum sources or filtration units are recommended during laparoscopic procedures. The market is thus anticipated to experience gradual growth post-COVID-19 revival.

The rising adoption of minimally invasive surgeries owing to their benefits such as shorter hospital stays, quick healing, and fewer surgical incisions, is also expected to boost the market growth during the forecast period, as high-flow vacuum sources are used in a majority of minimally invasive surgeries. This is further supported by increasing technological advancements by market players, the prevalence of chronic diseases that require surgical procedures, and the demand for better surgical equipment.

Major market players are focused on launching technologically upgraded products in the market to enhance their presence. For instance, in January 2020, Symmetry Surgical Inc. acquired the O.R. Company that manufactures, develops and markets, innovative & high-quality surgical devices.

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Smoke Evacuation Systems Market Report Highlights

• The smoke evacuating system segment dominated the market in terms of revenue share in 2020 and is projected to witness a CAGR of over 7.8% from 2021 to 2028. Technological advancements by market players are expected to drive market growth
• North America dominated the market in terms of revenue share in 2020 due to the high number of aesthetic procedures in the region
• The industry participants are focusing on investing in acquisitions, collaborations, product launches, and partnerships to gain a competitive edge
• The hospitals’ category holds the majority of the revenue share of around 42.9% in 2020 owing to high usage of high-flow vacuum sources in hospitals
• In Asia Pacific, the market is anticipated to witness a CAGR of around 9.7% over the forecast period owing to the high investments in R&D and consistent efforts being taken by global market players for commercializing their products at lower prices
• In September 2020, Olympus collaborated with Alesi Surgical Limited for the distribution of the Ultravision surgical smoke control system in the U.S., hence expanding its geographical presence

List of Key Players of Smoke Evacuation System Market

• Medtronic
• CONMED Corporation
• Zimmer Biomet
• Stryker
• Ethicon Inc.
• Erbe Elektromedizin GmbH
• Symmetry Surgical Inc.
• Pall Corporation
• KLS Martin Group
• Olympus Corporation

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Wearable Injectors Market Expanding At A CAGR 17.2% For The Forecast Period From 2021 To 2028: Grand View Research Inc.

San Francisco, 29 April 2021: The Report Wearable Injectors Market Size, Share & Trends Analysis Report By Type (On-body, Off-body), By Technology (Spring-based, Motor-driven), By Application (Oncology, Autoimmune Diseases), By End Use, And Segment Forecasts, 2021 – 2028

The global wearable injectors market size is expected to reach USD 18.3 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 17.2% from 2021 to 2028. Wearable injectors are drug administration devices designed to deliver drugs in large volumes subcutaneously. It is gaining popularity owing to its advantages such as reduced pain, ease of administration, and elimination of costly health facility visits.

Over the last decade, patient interest in the self-administration of injectable drug therapies has grown. The increasing prevalence of diabetes, chronic pain, and auto-immune diseases, such as rheumatoid arthritis, is increasing the use of wearable injectors. Their demand is increasing for the long-term management of asthma, chronic obstructive pulmonary disease (COPD), high cholesterol, and cancer. This is expected to create a lucrative opportunity for advanced device manufacturers to make wearable devices used to administer larger dose volumes at the comfort of home.

The recent COVID-19 pandemic has brought remote care technologies, such as wearable injectors, into the spotlight. Demand for chronic disease products remains largely unaffected by the pandemic. Since wearable injectors serve with the option of delivering medications at home, its demand has also remained stable or rather grown for the short term. Patients suffering from chronic diseases are opting for these devices as it reduces the risk of exposure to COVID-19 by eliminating hospital visits. The pandemic has, however, affected some of the devices in the pipeline, affecting short-term investments. Leading players who continue to invest in innovation push projects forward despite COVID-19 are expected to put their companies in a stronger competitive position post-crisis.

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Wearable Injectors Market Report Highlights

• By type, the on-body segment led the market in 2020 owing to its advantage to be worn on the skin
• The spring-based technology segment held the largest share of 36.3% in 2020 due to a rise in demand for adhesive patches for the treatment of chronic conditions, such as cancer and diabetes
• The home care end-use segment led the market in 2020. This can be attributed to a rise in preference for self-administration, especially during the COVID-19 pandemic
• North America dominated the market with a share of 41.5% in 2020 owing to the rising prevalence of chronic diseases

List of Key Players of Wearable Injectors Market

• Becton, Dickinson and Company
• Johnson & Johnson Services, Inc.
• Hoffmann-La Roche Ltd.
• Unilife Corporation
• SteadyMed Therapeutics, Inc.
• Amgen, Inc.
• Insulet Corporation
• Enable Injections
• West Pharmaceutical Services, Inc.
• CeQur SA

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Gene Therapy Market Projected To Exhibit Robust CAGR of 20.4%For The Forecast Period From 2021 To 2028: Grand View Research Inc.

San Francisco, 29 April 2021: The Report Gene Therapy Market Size, Share & Trends Analysis Report By Indication (Large B-cell Lymphoma, Beta-Thalassemia Major/SCD), By Vector Type (Lentivirus, AAV), By Region, And Segment Forecasts, 2021 – 2028

The global gene therapy market size is expected to reach USD 10.0 billion by 2028 registering a CAGR of 20.4% during the forecast period, according to a new report by Grand View Research, Inc. The market growth is attributed to the increasing prevalence of cancer coupled with the lack of effective treatment for the disease. Constant expansion of cancer genetic studies has deciphered relevant information about cancer-related molecular signatures.

This has driven the clinical trials for advanced cancer therapeutics, thereby driving the market growth. In addition, expansion of this mode of treatment in non-cancer applications with approval of therapies, such as approval of Bluebird Bio’s Zynteglo in June 2019 for β-thalassemia and others, demonstrates the shift in the preferences of companies towards other unsaturated segments.

Various universities and institutes are observed to exhibit a broad portfolio in the pipeline, which is anticipated to boost revenue generation in the future. The market is anticipated to witnesses a short-term revenue slowdown due to a shift in focus and delay in product launches. However, initiatives for developing novel trial designs, improving the regulatory environment, and managing the supply chain are expected to play a critical role in minimizing the impact of the current global crisis.

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Gene Therapy Market Report Highlights

• Viral vectors have proven their efficiency as a method for effective gene deliveries. As a result, a substantial number of research communities and biotechnology companies have designed their gene therapy programs based on viral vectors
• Moreover, most of currently FDA-secured products involve the use of viral vectors, which contributes to the dominance of the viral vectors segment
• Due to the approval and huge success of lentivirus-based Kymriah and retrovirus-based Yescarta, retrovirus and lentivirus are also among the key revenue-generating segments
• Cancer has led the revenue flow in the market over the past few years and is expected to maintain its dominance in the forecast period
• The presence of approved products for various cancer forms including Large B-cell lymphoma, Acute Lymphoblastic Leukemia (ALL), and melanoma has resulted in the dominance of this segment
• The U.S. is recognized as the hub for clinical trials related to gene therapy. This has significantly impacted the revenue growth of the North America market
• Also, the success of Yescarta and Kymriah in the U.S. as the first approved CAR-t therapy programs has driven huge investments by various government agencies, sponsors, and key companies in this region
• Major market participants are partnering with other key stakeholders via signing licensing, commercialization, and development deals to enhance their worldwide business operations
• For instance, in June 2020, uniQure announced a license agreement with CSL Behring for the commercialization of hemophilia B gene therapy

List of Key Players of Gene Therapy Market

• REGENXBIO, Inc.
• Oxford BioMedica plc
• Dimension Therapeutics, Inc.
• Bristol-Myers Squibb Company
• SANOFI
• Applied Genetic Technologies Corporation
• Hoffmann-La Roche Ltd.
• Bluebird Bio, Inc.
• Novartis AG
• Taxus Cardium Pharmaceuticals Group, Inc. (Gene Biotherapeutics)
• UniQure N.V.
• Shire Plc
• Cellectis S.A.
• Sangamo Therapeutics, Inc.
• Orchard Therapeutics
• Gilead Lifesciences, Inc.
• Benitec Biopharma Ltd.
• Sibiono GeneTech Co., Ltd.
• Shanghai Sunway Biotech Co., Ltd.
• Gensight Biologics S.A.
• Transgene
• Calimmune, Inc.
• Epeius Biotechnologies Corp.
• Astellas Pharma, Inc.
• American Gene Technologies
• BioMarin Pharmaceuticals, Inc.

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Expanded Polypropylene Foam Market Size Is Poised To Reach USD 1.56 Billion By 2028: Grand View Research Inc.

San Francisco, 29 April 2021: The Report Expanded Polypropylene Foam Market Size, Share & Trends Analysis Report By Product (Low-, Medium-, High-density), By End-use (Automotive, Appliances), By Region (APAC, Europe), And Segment Forecasts, 2021 – 2028

The global expanded polypropylene foam market size is expected to reach USD 1.56 billion by 2028, registering a CAGR of 6.3% over the forecast period, according to a new report by Grand View Research, Inc. Rapid expansion of the global automotive industry in recent years has been the major growth-driving factor for the market. The product is widely used in the automotive industry; for instance, in the production of floor, door, and hood panels, primarily for noise and thermal insulation in passenger and commercial cars. The considerable growth of the automotive industry in Germany, China, and India is expected to drive product demand over the projected period.

Furthermore, the increasing scope of product application in the consumer goods, construction, and packaging industries is expected to have a positive impact on the overall market growth over the coming years. The increasing use of molded EPP (Expanded Polypropylene) foam products in protective packaging and flexible packaging applications respectively in several verticals, including medical, consumer electronics, food & beverages, household appliances, and industrial equipment, is also expected to drive the industry growth over the forecast period. The appliances end-use segment is expected to witness the fastest CAGR, in terms of revenue, during the forecast period. The rapidly growing appliances industry across major economies of Asia Pacific, Europe, and North America is expected to drive the product demand in this segment.

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Expanded Polypropylene Foam Market Report Highlights

• The market was estimated at USD 936.8 million in 2020 and is expected to grow at a significant CAGR during the forecast period, on account of the increasing application scope of the product in the consumer goods and protective packaging industry segments
• The medium-density product segment accounted for a considerable share in 2020 and is expected to witness the second-fastest CAGR of 6.3% over the forecast period owing to increasing product application scope in consumer goods and furniture applications
• The product demand in the appliances segment is expected to grow at the highest CAGR during the forecast period
• Asia Pacific was the dominant regional market, in terms of revenue, in 2020 and is expected to witness the fastest CAGR of 6.8% during the forecast period
• The region’s high growth can be credited to the rising product application scope in the automotive, consumer goods, and packaging sectors
• Key companies in the market have undertaken several business strategies, such as capacity expansions, mergers & acquisitions, technical collaborations, and distribution agreements, to enhance their market share

List of Key Players of Expanded Polypropylene (EPP) Foam Market

• JSP Corp.
• BASF SE
• Kaneka Corp.
• DS Smiths plc
• Hanwha Corp.
• Furukawa Electric Co., Ltd.
• Sonoco Products Company
• Knauf Industries
• IZOBLOK
• Clark Foam Products Corp.
• Armacell International S.A.

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Healthcare Contract Research Organization Market Size Worth $ 66.1 Billion By 2028: Grand View Research Inc.

San Francisco, 28 April 2021: The Report Healthcare Contract Research Organization Market Size, Share & Trends Analysis Report By Type (Drug Discovery, Pre-clinical, Clinical), By Service (Clinical Monitoring, Regulatory/Medical Affairs), And Segment Forecasts, 2021 – 2028

The global healthcare contract research organization market size is expected to reach USD 66.1 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.6% from 2021 to 2028. The increasing cost of drug development is expected to drive the market over the forecast period. Moreover, rising clinical trial cost and challenges pertaining to patient recruitment have led biopharmaceutical companies to turn to regions like Central and Eastern Europe, Asia Pacific, Latin America, and the Middle East for cost savings and quick patient recruitment.

In addition, growing pressure on industry players to follow stringent timelines has increased the demand for outsourcing research activities to contract research organizations (CROs). Some government organizations are also outsourcing their clinical trial activities so that they can carry out clinical trials with the required infrastructure and expertise and minimize their cost and timelines.

However, the CRO market has been significantly impacted by the ongoing pandemic. The worldwide focus on finding a vaccine against coronavirus has had a significant impact on the development of other vaccines and drugs. At the peak of the pandemic, vaccines and treatments for COVID-19 accounted for 30% of all the trials in the U.S. This resulted in other trials being put on hold.

The CRO market is recovering slowly through a hybrid approach. They are playing a significant role in helping sponsors and sites to start clinical trials. Market players have already built powerful tools to support virtual clinical trials. They are ready to rapidly assist sponsors to shift to this new environment and leverage the available tools.

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Healthcare CRO Market Report Highlights

• Based on type, clinical trial services dominated the global market in 2020 and held a share of 76.7% owing to the fact that it comprises four elaborate phases, including human subjects
• By service, the clinical monitoring segment held the largest revenue share in 2020
• North America held a significant share in 2020 due to the presence of several global players, who invest a major part of their revenue in research activities
• Asia Pacific is anticipated to register the fastest CAGR over the forecast period due to the reduced cost it offers in comparison to the U.S. and other developed economies. China, Japan, and India are projected to witness tremendous growth in the contract research organization market owing to high disease prevalence

List of Key Players of Healthcare CRO Market

• IQVIA
• Covance
• Pharmaceutical Product Development, LLC (PPD)
• PAREXEL International Corporation
• Charles River Laboratories (CRL)
• ICON plc
• Medidata Solutions
• Syneos Health
• Pharmaron
• GVK Biosciences Private Limited

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Digital Pathology Market Size Is Expected To Reach USD 1.5 Billion By 2028: Grand View Research Inc.

San Francisco, 28 April 2021: The Report Digital Pathology Market Size, Share & Trends Analysis Report By Product (Software, Device), By Application (Drug Discovery & Development, Acedemic Research), By End-use, By Region, And Segment Forecasts, 2021 – 2028

The global digital pathology market size is expected to reach USD 1.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2021 to 2028. The increasing prevalence of chronic diseases triggers the demand for advanced diagnostics, which is expected to drive market growth. Growing economic stability and awareness pertaining to the benefits of using Computer-Aided Diagnostics (CAD) is further contributing to the growth.

Moreover, supportive regulations amidst COVID-19 pandemic is anticipated to increase penetration of digital pathology system in coming years. A March 2020 memorandum issued by the CMS stated that laboratories would be allowed to utilize temporary testing sites, such as homes, for digital pathology review and reporting, even if they are not CLIA-certified (provided that certain criteria are met). This waiver gives pathology labs the necessary regulatory flexibility to remotely maintain operations during the pandemic.

During the pandemic, interim extraordinary measures were put in place in relation to Medical Device Single Audit Program (MDSAP) audits. These allowed substitutions of on-site audits with alternative arrangements, such as desktop audit, remote audit, hybrid audit, and surrogate audit. In July 2020, Proscia received MDSAP certification.

Digital pathology has an important role in companion diagnostics and drug development pipeline, including molecular biology, biobanking, molecular tissue profiling, and tissue microarray analysis. Increasing demand for high-quality tissue samples in tissue-based biomarker research is expected to propel the adoption of the technology over the forecast period.

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Digital Pathology Market Report Highlights

• Devices held the dominant market share in 2020 owing to increased use in academic research
• The rising implementation of slide management system in stratified medicine and tissue-based biomarker research is one of the key contributing factors for the dominance of this technology
• The software segment is expected to witness lucrative growth in the near future as the product assists in faster diagnosis and synchronization of patient data, where healthcare professionals can remotely access this information
• Digital pathology is increasingly used in academic research owing to various benefits, such as cost-effectiveness and rapid results
• The disease diagnosis segment is expected to witness lucrative growth over the forecast period owing to the increasing prevalence of cancer and demand for noble diagnosis techniques
• The availability of unified platforms for workflows in pathology is anticipated to boost the usage of computer-aided imaging technology in academic research, which is anticipated to boost segment growth
• Hospitals led the end-use segment in 2020 owing to the increasing adoption of digital pathology
• The market is expected to remain innovation-led, with frequent acquisitions and strategic alliances. New product development and well-established distribution channels are key to the competitive advantage of leading players
• An increasing usage rate of the digital imaging systems to facilitate faster diagnosis, particularly of chronic diseases; the increased uptake of these products serves as the key driver of this market

List of Key Players of Digital Pathology Market

• Danaher
• Hamamatsu Photonics, Inc
• Koninklijke Philips N.V.
• Olympus Corporation
• Hoffmann-La Roche Ltd
• Mikroscan Technologies
• Inspirata, Inc
• Visiopharm A/S
• Huron Digital Pathology
• 3DHISTECH Ltd.
• ContextVision AB

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Magnetic Resonance Imaging Market Expected To Witness A Substantial Growth Of USD 8.5 Billion By 2028: Grand View Research Inc.

San Francisco, 28 April 2021: The Report Magnetic Resonance Imaging Market Size, Share & Trends Analysis Report By Architecture, By Field Strength, By Application (Brain & Neurological, Spine & Musculoskeletal), By End-use, By Region, And Segment Forecasts, 2021 – 2028

The global magnetic resonance imaging market size is expected to reach USD 8.5 billion by 2028. The market is expected to expand at a CAGR of 6.0% from 2021 to 2028. The growing prevalence of chronic diseases and increasing demand for early diagnostic techniques are the factors expected to drive the market. In addition, the growing adoption of less invasive procedures is also contributing to the growth of the market. Moreover, the growing number of clinical trials to understand the effectiveness and efficiency of magnetic resonance imaging (MRI) machines in various clinical applications is also expected to boost market growth.

End-users such as research institutes and universities are frequently studying the efficiency of MRI devices with high field strength such as 7T, 10T, and 10.5T. The growing number of research studies will help in unlocking the potential usage and advantages of high field MRI machines for various preclinical as well as clinical applications. Currently, 7T MRI machines are only effective in brain and knee imaging, largely due to the absence of advance coil required for these high field machines. Therefore, the development of advance coils to expand the application of 7T MRI machines is expected to propel market growth during the forecast period.

Key market players are adopting various strategies such as mergers and acquisitions, collaborations, and partnerships to be competitive in the market. Aurora Imaging Technology entered into a distribution agreement with Sumec Group Corporation. Under this distribution agreement, Sumec Corporation will distribute MRI portfolio ofAurora Imaging Technology in China. This, in turn, is helping both the companies in geographical expansion.

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MRI Market Report Highlights

• Adoption of advanced imaging technologies is augmenting the growth of the market
• Open system is anticipated to be the fastest growing segment during the forecast period due to its efficiency to accommodate all size of patients without feeling claustrophobic
• MRI for neurological and brain disorders dominated the market largely due to growing number of neurological conditions and increasing demand for less invasive diagnostic procedure
• The high field segment is expected to experience fastest growth largely due to its efficiency to provide detailed images for diagnosis
• Ambulatory surgical centers are expected to exhibit highest growth rate during the forecast period. Government initiatives to improve primary care is one of the major factor impacting the segment growth
• In 2020, North America dominated the magnetic resonance imaging (MRI) market and accounted for the largest revenue share owing to continuous research and high adoption of advanced techniques in the region
• Asia Pacific is anticipated to witness the fastest growth rate over the forecast period due to growing number of clinical studies in the region for high field MRI machines

List of Key Players of Magnetic Resonance Imaging Market

• GE Healthcare
• Hitachi Medical Systems America AG.
• Siemens AG
• Toshiba Corporation
• Aurora Imaging Technologies, Inc.
• Koninklijke Philips N.V.
• Esaote SPA
• Sanrad Medical Systems Pvt. Ltd.

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