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The global anti-microbial coating for medical devices market is growing, due to increasing number of hospitals and surgical centers, increasing number of free trade agreements, and technological advancement, such as nanocomposite coating technology, novel coating technology and parylene technology.
The metallic coating segment is expected to dominate the market and non-metallic segment is expected to grow at the faster rate during the forecasted period. The silver coating is expected to dominate the metallic coating segment of the global market, and anticipated to grow with the fastest rate during the projected period. In addition, the polymer coating segment is expected to dominate the non-metallic coating segment of the market. On the basis of device type, the catheter segment dominates the market; however, the implantable devices segment is expected to grow with the fastest rate during the forecast period.
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The massive unexplored market of the anti-microbial coating for medical devices industry in the developing economies is creating abundant growth opportunities for the market. Various medical devices comes in contact with complex bodily fluids, such as blood and urine; these devices need to be sanitized with anti-microbial coating. Antimicrobial coating is used in medical devices to reduce the risk of infection and demolish microorganisms from medical devices. These coatings should be bio-compatible, bio-stable and non-toxic for various medical devices.
Some of the companies operating in the global anti-microbial coating for medical devices market are Royal DSM, PPG Industries Inc., Sciessent LLC, BASF SE, Biointeractions Ltd., Covalon Technologies Ltd., AST Products Inc., Hydromer Inc., The DOW Chemical Company, and Specialty Coating Systems Inc.
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The increasing adoption of drug of abuse (DOA) testing at the organizational level, growing number of road accidents and deaths, and rising consumption of illicit drugs are some of the reasons behind the growth of the DOA testing market. In 2016, the market generated a revenue of $4.8 billion, and it is predicted to advance at a CAGR of 9.6% during the forecast period (2017–2023). Drug testing refers to the technical analysis of sweat, blood, saliva, urine, breath, and hair samples to detect the presence of cocaine, cannabis, and alcohol.
The key players in the drug of abuse testing market provide equipment such as immunoassay analyzers, chromatographic analyzers and breath analyzers. Among all the equipment, breath analyzers market size is projected to grow at the fastest rate, with a CAGR of 9.5% during the forecast period since they can detect the presence of drugs and alcohol in the breath easily in a short span of time, and are less expensive than other analyzers.
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Geographically, North America has been the largest drug of abuse testing market, with the U.S. being the larger contributor to the regional market, as compared to rest of North America. The leading position of the North American market is mainly due to the increased availability of illicit drugs, rising workplace monitoring for consumption of illicit drugs and increased drug trafficking in the region. According to National Institute on Drug Abuse (NIDA), in 2013, an estimated 24.6 million Americans aged 12 years or above, constituting approximately 9.4% of the total population, had used an illicit drug, which was an increase of 8.3% from 2002. The increase was mainly due to rise in the use of marijuana, the most commonly used illicit drug.
Some of the key players operating in the drug of abuse testing market include Danaher Corporation, Siemens AG, Merck KGaA, Drägerwerk AG & Co. KGaA, Express Diagnostics Int'l, Inc., bioMérieux S.A., Waters Corporation, Roche Holding AG, Quest Diagnostics Inc., Laboratory Corporation of America Holdings, Alere Inc., Abbott Laboratories, Randox Laboratories Ltd., Psychemedics Corporation, Bio-Rad Laboratories, Inc., Sonic Healthcare Ltd., and ThermoFisher Scientific Inc.
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The global healthcare BPO market is witnessing significant growth, due to technological advancements in healthcare IT sector and increasing demand for reducing healthcare costs. The tenth revision of International Statistical Classification of Diseases and Health Related Problems (ICD-10), emergence of biologics and massive unexplored healthcare BPO market in the emerging economies are creating ample opportunities for the growth of the global healthcare BPO market. Healthcare reforms across the globe and adoption of healthcare BPO by major pharmaceuticals, biopharmaceuticals and biotechnology companies are supporting the demand of cost effective and improved healthcare system.
Healthcare BPO is the practice of outsourcing business operations by healthcare providers, payers and organizations. Healthcare BPO has several advantages, such as availability of skilled workforce at low cost, reduction in training and administrative costs, and high profitability for healthcare organizations, payers, and providers. In addition, healthcare BPO also improves the quality of patient care, while reducing the investment required for infrastructure.
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Some of the factors driving the growth of the global healthcare BPO market are increasing healthcare costs, advancement in the healthcare IT technology, lack of skilled professionals and increasing demand for improved healthcare. In addition, the high cost associated with R&D and manufacturing of drugs, and reduced productivity is compelling the major pharmaceuticals companies to outsource their business processes. However, data security and privacy concerns, unforeseen costs, and difference in the regulatory processes within different countries are restraining the growth of the global healthcare BPO market.
Some of the major players operating in the global healthcare BPO market are Accenture, Tata Consultancy Services (a part of Tata Group), Genpact, Boehringer Ingelheim GmbH, Cognizant, Charles River Laboratories International Inc., Covance Inc., Infosys Limited, Lonza Group Ltd. and Quintiles Inc.
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The wound closure products market size is set to reach $14.6 billion by 2022, growing at a CAGR of 6.3% between 2016-2022. The market is driven by factors such as growing geriatric population, increasing volume of surgeries, and increase in road accidents. In addition, increase in burn cases across the globe and increasing incidence of chronic wounds is also driving the growth of the market.
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The European wound closure market was valued at $2.8 billion in 2015 and is expected to grow at a CAGR of 5.9% between 2016-2022, to reach $4.2 billion by 2022. European wound closure products market is growing due to increase in aging population, diabetes cases, and obesity levels. Among the European nations, the German market for wound closure products is expected to grow at a CAGR of 6.6% during the forecast period, to reach $1.1 billion by 2022.
The high cost of wound closure products limits the growth of the wound closure products market. High cost of wound closure products, such as adhesives and tissue sealants, haemostats, sutures and wound closure strips limits the affordability of the users. In addition, the manufacturing of these products also requires material with specific characteristic features, thus leading to higher cost. Moreover, raw materials required for manufacturing of wound closure products have specific requirements.
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Some of the key companies operating in the wound closure products market include 3M Company, Medtronic plc, Smith and Nephew plc, CryoLife Inc., DeRoyal Industries Inc., Pfizer Inc., Derma Sciences Inc., Johnson and Johnson, B. Braun Melsungen AG and Baxter International Inc.
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The U.S. scar treatment market size is expected to reach $11.3 billion by 2023. The market is mainly driven by increasing number of surgeries for the improvement of physical appearance, growing prevalence of skin problems leading to scar formation, increasing expenditure on personal care, and technological advancements in dermatological products.
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The increasing appearance consciousness among consumers due to exposure to media, is driving the demand for beauty products and cosmetic surgery. The online availability of scar treatment products, such as scar treating creams, sprays, oils, gels leads to increased accessibility of these products. Also, online retailing is time saving, provides instant access to products, offers discounted prices, and is more convenient, which allows products to be purchased with ease.
The increasing prevalence of skin problems, due to excessive exposure to pollution and UV radiation, results in sunburns, reduced skin elasticity, and other skin diseases. These conditions, without proper treatment on time, can lead to the formation of scars. Various other skin problems, such as acne, burns, post-surgical marks and stretch marks, due to pregnancy or changes in body weight also lead to scar formation, which is boosting the demand of scar treatment products and therapies.
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Furthermore, the technological advancements in scar treatment products and therapies help in the removal of scars easily. The availability of various products, such as creams, oils, gels, and sprays over the counter for treating scars leads to the growth of the U.S. scar treatment market.
Some of the other key players operating in the U.S. scar treatment market are Revitol Corporation Inc., CCA Industries Inc., Scarguard Labs LLC, Quantum Health, Valeant Pharmaceuticals International Inc., Pacific World Corporation, Merz Pharma GmbH & Co. KGaA, and Johnson & Johnson.
Source: P&S Intelligence
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