Key Trends Driving Growth and Opportunities in the Theranostics Market

 

Market Definition

Theranostics is a term used for diagnosis and therapy. Theranostics can be broadly defined as a combination of molecularly targeted imaging and therapy, whereas imaging helps to gain information regarding presence of targeted moleculaes on cell surface and therapy progression. Radiotheranostics involves the use of radionuclide/radiopharmaceutical that delivers targeted radiation to kill the cancerous cells and imaging modality such as positron emission tomography (PET) is used to locate the cancer.  FDA approved theranostics procedures are performed for different applications such as prostate cancer, neuroendocrine tumor, etc. These procedures are mainly performed in hospitals, cancer care centers, and  theranostics centers.

Market Outlook:

The report "Theranostics Market by Product (Diagnostic imaging (PET, CT, MRI), Radiopharmaceuticals (Lu-177, Sm-153, Ra-223, I-131), Biomarker screening, Software), Application (Prostate Cancer, Bone metastasis), & Stakeholder Expectations - Global Forecast to 2028", is projected to reach USD 4.3 billion by 2028 from USD 2.1 billion in 2023, at a CAGR of 15.5% from 2023 to 2028.

 
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Growth Drivers

 

Precision medicine or personalized medicine involves the targeted approach for a patient by considering the difference in the genes and other factors such as lifestyles and environments. Specific characteristics of a patient are analyzed tailored for innovative approach to medical treatment. The treatment or therapy designed for the patient by considering the molecular and cellular profile results in effective prevention, diagnosis, improved outcomes, and reduced side effects.

Market Segmentation: -

• Based on the product, the global theranostics market is segmented into diagnostic imaging, radiopharmaceuticals, IVD/Biomarker screening, and software and services. The radiopharmaceuticals segment is anticipated to register the highest growth rate over the forecast period and also accounted for the highest share of the theranostics market in 2022.
• Based on application, the theranostics market is segmented into prostate cancer, bone metastasis, other cancer, and other applications. The prostate cancer segment accounted for the largest share of the market in 2022 and is also expected to grow at the highest CAGR during the forecast period.
• Based on end user, the global theranositcs market is segmented into hospitals and cancer centers, theranostics centers, and research and academic centers. The hospitals and cancer care centers segment accounted for the largest share of the market in 2022. Consistent rise in the number of hospitals and rising old-age population are driving the growth of this segment.
• The Asia Pacific theranostics market is anticipated to register the highest growth from 2023 to 2028. The key players of theranostics market are focusing on expanding their footprint in the APAC region. This region is witnessing a significant rise in the adoption of the treatment by different end user facilities in the region.

Growth opportunities 

Developing economies such as offer growth opportunities for the major players in the market. Although the cost factor is a concern in these developing countries, their huge population base—especially in India and China—offers a sustainable market for theranostics.

The high incidence of chronic diseases such as cancer, strokes, and neurological and cardiovascular diseases, as well as the high death rates in these countries, have increased the need for early detection. According to a GLOBOCAN 2020 report, the number of new cancer cases diagnosed in 2020 was 19.3 million, and almost 10.0 million died due to cancer.

Recent Developments of Theranostics Industry:

• Advanced Accelerator Applications (France) received FDA approval for Pluvicto (lutetium Lu 177 vipivotide tetraxetan). Pluvicto is a targeted radioligand therapy for patients with prostate cancer with a therapeutic radioisotope.
• Bayer AG (Germany) and the Broad Institute of MIT and Harvard (US) extended their long term collaboration for the advancement of new therapeutic approaches in cancer.
• GE Healthcare collaborated with the Mayo Clinic (US) for innovation in research and product development. The collaboration aims to have the technology for clinicians for the precise diagnosis and approaches to theranostics and medical imaging.

Top Key Players:

As of 2022, prominent players in the market are Advanced Accelerator Applications (France), Bayer AG (Germany), GE Healthcare (US).

The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Increasing establishment of hospitals, rising focus on targeted therapies, and introduction of novel theranostic approaches are expected to drive the market during the forecast period. Introduction of artificial intelligence (AI) helps to improve the diagnostic accuracy. Recent FDA approvals increases the awareness and supports rising adoption of theranostics.

The Future of Surgical Procedures: Growth, Trends, and Opportunities

 Understanding Surgical Procedures

A surgical procedure or surgery is a medical specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury to help improve bodily function and appearance or repair unwanted ruptured areas. Surgery can involve cutting, abrading, suturing, or physically changing body tissues and organs.

Market Outlook: Surgical Procedures on the Rise

The report "Surgical Procedures Market By Type (Gastrointestinal, Cardiovascular, Dental, Cosmetic, Urologic, Ophthalmic, Orthopedic, ENT, Nervous System, Obstetric/Gynecologic), Channel (Physician Offices, Hospitals, ASCs) - US Forecast to 2028" is projected to reach 1,27,748.5 thousand procedures by 2028 from 1,08,275.5 thousand procedures in 2023, at a CAGR of 3.4% during the forecast period.

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Key Trends and Developments

Increasing Adoption of Outpatient Surgeries

• Ambulatory Surgery Centers (ASCs): Specialized for procedures not requiring hospital admission.
• Technological Advances: Rise of minimally invasive techniques.
• Value-Based Care: Incentives for high-quality, cost-effective care.
• Cost-Effectiveness: Significant savings for governments, payers, and patients.

2022 Specialties Growth in ASCs:

• Orthopedics
• Cardiology
• Higher Acuity Spine Procedures

Growth Drivers

• Prevalence of Chronic Diseases: Increasing need for surgical interventions.
• Aging Population: More medical procedures required for elderly patients.
• Advancements in Surgical Techniques: Improving efficacy and safety.
• Investment in Health Facilities: Enhanced infrastructure supporting market growth.

Market Segmentation: -

• Based on type, the US surgical procedures market is segmented into orthopedic, gastrointestinal, urologic, dental, cardiovascular, ophthalmic, cosmetic, ENT, obstetric/gynecologic, and other surgical procedures.
• Based on channel, the US surgical procedures market is segmented into physician offices, hospitals, and ambulatory surgery centers. Physician offices held the largest share in 2022, followed by hospitals and ambulatory surgery centers.
• The highest CAGR of this segment can be attributed to the potential for cost reduction and the rising demand for better and quicker care among patients. In 2022, specialities that increased their footprint in Ambulatory Surgical Centers (ASCs) included orthopaedics, cardiology, and higher acuity spine procedures. According to the data from the Ambulatory Surgical Center Association, orthopedics was the most common specialty served by ASCs in 2022.

Opportunity: Increasing Adoption Of Outpatient Surgeries

Ambulatory surgery centers (ASCs) are freestanding facilities specializing in surgical, diagnostic, and preventive procedures that do not require hospital admission. Medical procedures are moving into these outpatient facilities due to technological advances such as minimally invasive surgical procedures and value-based care incentives. Health systems have also been acquiring or partnering with physicians and physician practices, further driving the volume of services performed in outpatient settings. The cost-effectiveness of ASCs provides significant savings for governments, third-party payers, and patients. 

 

Conclusion

The surgical procedures market is poised for robust growth driven by technological advancements and the shift towards outpatient surgeries. Despite challenges like regulatory hurdles and high costs, the market outlook remains positive with ongoing investments and strategic initiatives.

 

 

Unveiling the Growth Potential: Trends and Insights in the Amniotic Products Market

 The field of regenerative medicine has witnessed remarkable advancements over the years, and one of the noteworthy contributors to this progress is the use of amniotic products. These products, derived from the placental tissues, have gained substantial attention in various medical applications. In this article post, we delve into the Amniotic Products Industry, its global growth forecasts, and the factors driving its expansion.

Market Overview:

The Amniotic Products Market is set to achieve significant growth in the coming years. According to the report titled "Amniotic Products Market," is projected to reach USD 1,289 million by 2028, showcasing a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period. This impressive growth can be attributed to several factors, which we will explore in detail.

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Key Drivers of Growth:

Several key factors are propelling the growth of the amniotic products industry:

1. Rising Awareness Programs: Increasing awareness programs focused on wound care treatment and management have played a pivotal role in driving the demand for amniotic products. These regenerative therapies have demonstrated effectiveness in wound healing and tissue repair, making them a valuable addition to medical practices.
2. Venture Capital Investments and Government Funding: The industry has benefitted from substantial investments by venture capitalists and government funding. This financial support has accelerated research and development efforts, leading to the creation of innovative amniotic products.
3. Growing Prevalence of Chronic Conditions: The prevalence of chronic conditions such as diabetes and venous ulcers has surged in recent years. Amniotic products offer promising solutions for the treatment of chronic wounds, contributing to their increased adoption.

Challenges Ahead:

While the amniotic products industry is on an upward trajectory, it faces certain challenges, including competition from alternative therapies. As medical science continues to evolve, the industry must stay ahead by consistently innovating and demonstrating the unique advantages of amniotic products.

Regional Insights:

Let's take a closer look at regional dynamics in the amniotic products market:

1. UK Leads in Europe: Within Europe, the United Kingdom (UK) is expected to witness the highest growth in the amniotic products market. Factors contributing to this growth include a high prevalence of diabetes and venous ulcers, increasing research and development activities, strategic developments by key players, and a growing geriatric population.
2. China's Dominance in Asia Pacific: In the Asia Pacific (APAC) region, China has emerged as a dominant player in the amniotic products market. Factors driving this include economic growth, rising diabetes cases, a high number of road accidents, increasing disposable income among the middle-class population, a growing elderly demographic, and favorable government support.

End-User Segmentation:

The amniotic products market can be divided into different end-user segments, with hospitals and ambulatory surgical centers experiencing the highest growth rate. This growth is attributed to increased hospital admissions for chronic wounds like pressure ulcers and diabetic foot ulcers. The rising incidence of hospital-acquired pressure ulcers further underscores the significance of amniotic products in this segment.

Recession Impact on the Amniotic Products Market

The impact of a global recession can vary across different regions and countries. Economic conditions, healthcare systems, and regulatory environments differ worldwide, and the severity and duration of the recession will also influence the extent of its impact on the amniotic membranes market globally. During a global recession, the amniotic membranes market could experience several potential impacts. 

Recent Developments of Amniotic Products Industry

• In 2021, The company VIVEX Biologics (US) launched Cygnus Matrix Disks with the latest configuration of the Cygnus family of amniotic tissue allografts.
• In 2021, MiMedx (US) received approval from the Japanese Ministry of Health, Labour, and Welfare for the commercialization of EPIFIX in Japan.
• In 2021, The company Celularity Inc. (US) entered into an exclusive distribution agreement for the commercial distribution rights for orthopedic surgery and sports medicine products with Arthrex, Inc. (US).

Key Market Players:

Several prominent companies are contributing to the growth of the amniotic products industry, including:

1. MiMedx (US)
2. Smith+Nephew (UK)
3. Organogenesis Inc. (US)
4. Integra LifeSciences (US)
5. Stryker (US)
6. APPLIED BIOLOGICS. (US)
7. Celularity Inc. (US)
8. Corza Ophthalmology (US)
9. Lucina BioSciences (US)
10. Next Biosciences (South Africa)

These companies are actively involved in research, innovation, and strategic collaborations to enhance the reach and impact of amniotic products in various medical applications.

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Conclusion:

The Amniotic Products Industry is poised for substantial growth, driven by increasing awareness, investments, and the need for innovative solutions in wound care and regenerative medicine. As we move forward, it will be exciting to witness how this industry continues to evolve and contribute to improving patient outcomes worldwide.

 

Understanding the Laboratory Proficiency Testing Market: Trends and Developments

 The world of biotechnology and healthcare is driven by innovation, precision, and unwavering commitment to quality. And in this journey towards excellence, Laboratory Proficiency Testing (LPT) has emerged as a cornerstone of assurance. As someone deeply entrenched in the biotechnology industry for over a decade, I'm excited to share insights into the soaring growth of the Laboratory Proficiency Testing market, which is set to reach new heights.

A Glimpse into the Market

The Laboratory Proficiency Testing Market is poised for remarkable expansion, with projections indicating it will grow from USD 1.2 billion in 2023 to USD 1.6 billion by 2028, boasting a robust CAGR of 7.4%. This impressive growth is no accident but the result of several key drivers steering the industry towards success.

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The Driving Forces

1.      Stringent Safety and Quality Regulations: In an era where consumer safety and product quality are paramount, regulatory bodies worldwide have imposed rigorous standards. Laboratory Proficiency Testing provides the necessary validation and ensures adherence to these standards, particularly in sectors like food and pharmaceuticals.

2.      Focus on Water Testing: With growing concerns about water quality, the emphasis on water testing is rising. LPT plays a pivotal role in guaranteeing the safety of our water supply, impacting public health significantly.

3.      Laboratory Accreditations: An increasing number of laboratories are recognizing the importance of accreditation. This trend drives the demand for proficiency testing services as laboratories strive to meet and exceed industry standards.

Industry Insights

Clinical Diagnostics Takes the Lead: In 2022, the Clinical Diagnostics segment led the Laboratory Proficiency Testing market. Factors such as the need for early and precise disease diagnosis, advancements in diagnostic techniques, and increased investments in research and development are propelling this growth.

Chromatography on the Rise: Chromatography, among various technologies, is experiencing the highest compound annual growth rate. Its extensive use in water, pharmaceutical, and food industries, along with its accuracy, makes it an indispensable tool.

Regional Analysis: APAC Emerges Strong

The Asia Pacific region is expected to witness the fastest growth in the Laboratory Proficiency Testing market. Outsourcing analytical testing services, coupled with stringent regulations, is driving adoption in countries like China, India, Japan, and Singapore.

Recent Developments

Recent industry developments showcase the dynamism of the Laboratory Proficiency Testing sector:

·         LGC Limited's Acquisition: In July 2023, LGC Limited acquired Kavo International, strengthening its quality measurement portfolio.

·         Monkeypox PT Program: The College of American Pathologists launched a proficiency testing program focused on the monkeypox virus, enhancing quality assurance.

·         Spex CertiPrep Acquisition: Spex CertiPrep acquired NSI Lab Solutions in April 2022, expanding its proficiency testing offerings.

·         Global Partnerships: Fera Science Ltd. partnered with BioFront Technologies to represent FAPAS proficiency testing services in the United States, showcasing the industry's global reach.

Key Players Leading the Way

The Laboratory Proficiency Testing market boasts a roster of prominent players, including LGC Limited, College of American Pathologists, Bio-Rad Laboratories, Merck KGaA, and American Proficiency Institute, among others.

In conclusion, the Laboratory Proficiency Testing market's growth isn't just a statistic; it's a testament to the industry's unwavering commitment to quality, safety, and innovation. As we move forward, this sector will continue to play a pivotal role in shaping the future of biotechnology and healthcare, ensuring that products and services meet the highest standards of excellence. Let's embrace this transformative journey towards a safer and more reliable future.

 

Laser Capture Microdissection Market Poised for Significant Growth: Key Trends and Insights to 2029

 The recently published report by MarketsandMarkets™ titled "Laser Capture Microdissection Market by Product (Instruments, Consumables, Software, Services), System Type (Ultraviolet, Infrared, Immunofluorescence), Application (R&D, Diagnostics) - Global Forecast to 2029" projects the market to reach USD 306 million by 2029, up from USD 184 million in 2024. This represents a compound annual growth rate (CAGR) of 10.6% over the forecast period from 2024 to 2029.

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Market Overview:

The laser capture microdissection (LCM) market is set for substantial growth due to increased adoption across various research fields, advancements in sample preparation techniques, and the rising demand for personalized medicine. The consumables segment, in particular, held the largest market share in 2023, driven by these factors.

Growth Driving Factors:

The growth of the LCM market is propelled by the increasing demand for laser capture microdissection in cancer research and the collaborations between academic institutions, research organizations, and industry players. Continuous advancements in laser technology, microscopy, and automation are also key contributors, enhancing the precision, efficiency, and ease of use of LCM systems.

Key Players:

Prominent companies in the LCM market include:

• Thermo Fisher Scientific Inc. (US)
• Danaher Corporation (US)
• Carl Zeiss AG (Germany)
• F. Hoffmann-La Roche AG (Switzerland)
• Standard BioTools (US)

These key players are leveraging strategies such as mergers and acquisitions, investments, partnerships, collaborations, and new product developments to strengthen their market positions.

Market Segmentation:

• By product, the laser capture microdissection market has been further categorized as instruments, consumables, software and services. The consumables segment held the largest share of the global laser capture microdissection market in 2023. This can be attributed to increasing adoption of LCM technology across various research fields, advancements in sample preparation techniques, and the rising demand for personalized medicine.
• Based on application, the global laser capture microdissection market has been segmented into research & development, diagnostics, and other applications. The research & development segment held the largest market share in 2023.

Regional Insights: The North American market has shown significant growth, primarily due to the large pharmaceutical and biopharmaceutical industries, increased R&D expenditure, stringent regulations, and the presence of major LCM product providers in the US and Canada.

Recent Industry Developments:

• Danaher Corporation (US) acquired Abcam plc (UK) in August 2023, a move that strengthens Danaher's position in the life sciences segment and accelerates drug discovery.
• Crown Bioscience International (US), a JSR Life Sciences company, acquired Indivumed Services GmbH & Co. KG (Germany) in March 2023, enhancing its drug discovery and development services.

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Conclusion:

The laser capture microdissection market is on an upward trajectory, driven by technological advancements and increased demand across various research and diagnostic applications. With significant growth anticipated by 2029, this market offers promising opportunities for stakeholders and investors.

 

Flow Cytometry Market Forecast: Understanding Industry Trends and Market Dynamics

 The growth of the Flow Cytometry Market is largely driven by the rising prevalence of HIV/AIDS and cancer, growing adoption of flow cytometry techniques in research activities, increasing public-private initiatives in immunology and immuno-oncology research, and rising technological advancements in flow cytometry software.

Flow Cytometry Market is projected to reach USD 7.0 billion by 2028 from USD 4.7 billion in 2023, at a CAGR of 8.3% between 2023 and 2028. 

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Flow Cytometry Market Dynamics:

Drivers:

1. Increasing incidence of HIV/AIDS and cancer
2. Flow cytometry techniques in research activities
3. Use of flow cytometry in regenerative medicine
4. Growing public−private initiatives in immunology and immuno-oncology research
5. Technological advancements in flow cytometry instruments

Restraints:

1. High product cost

Opportunities:

1. Emerging markets
2. Public-private funding initiatives in stem cell research
3. Adoption of recombinant DNA technology for antibody production

Challenges:

1. Complexities related to reagent development
2. Shortage of well-trained and skilled professionals

Markets Segmentation:

·         Based on product & service, the market is segmented into reagents & consumables, instruments, software, services, and accessories. Reagents & consumables accounted for the largest share in the market in 2022.

·         Based on applications, the market is segmented into research, clinical, and industrial applications.  In 2022, the research applications segment accounted for the largest share in the global market. 

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Regional Analysis:

North America accounted for the largest share in Flow Cytometry market.

The North American market is mature with high penetration of flow cytometry technologies among key end users. However, this market is still expected to offer high growth opportunities because of the expanding application areas of flow cytometry in clinical settings.

US- High incidence of cancer and HIV-AIDS drives the market growth.

The high prevalence of cancer (including leukemia, lymphoma, and myeloma), HIV-AIDS, and autoimmune disorders, coupled with the increasing demand for early and effective disease diagnosis and treatment, are the major factors driving market growth in the US. For instance:

• As of 2019, an estimated 1.2 million people were living with HIV, and ~ 36,801 people received an HIV diagnosis in the US.
• According to the National Cancer Institute, in 2020, an estimated 1,806,590 new cancer cases were diagnosed in the US, and 606,520 people were expected to die from the disease.

CANADA: Ongoing government initiatives for life science research expected to drive demand for flow cytometry products

Canada has several R&D clusters that drive and support innovation in Canadian universities, institutes, and technology incubators. In January 2019, the Centre for Commercialization of Regenerative Medicine (CCRM) and GE Healthcare established the Centre for Advanced Therapeutic Cell Technologies (CATCT) in Toronto, Canada, emphasizing the industrialization of cell manufacturing.

Recent Developments: -

• In June 2023, BD launched The BD FACSDuet Premium Sample Preparation System to automate sample preparation in clinical flow cytometry diagnostics.
• In May 2023, Sysmex launched Clinical Flow Cytometry System Flow Cytometer XF-1600, Sample Preparation System PS-10, antibody reagents, and other related products in Japan.
• In June 2022, BD (US) launched BD FACSDiscover S8 Cell Sorter with high-speed imaging technology that sorts cells based on visual characteristics.
• In March 2022, Beckman Coulter, Inc. (US) launched a fully automated sample preparation system (SPS) CellMek SPS, which offers on-demand processing for many sample types to help laboratories expand their capabilities.

Top Key Players: -

The prominent players in the Flow Cytometry Market are Becton, Dickinson and Company (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), and Luminex Corporation (US). These companies have adopted organic and inorganic growth strategies, such as product launches and acquisitions, to maintain their leading positions in the market.

The Flow Cytometry Market is more than just a niche sector in biotechnology; it's a catalyst for groundbreaking discoveries and precise diagnostics. As an industry expert, I am thrilled to witness the industry's remarkable growth and foresee an even more promising future. With ongoing advancements and collaborations, the flow cytometry market will continue to redefine the boundaries of what's possible in healthcare and life sciences.