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Cardiac Pacemaker Market To Witness A CAGR Of -0.5% Between 2024

Market Report Summary 

  • Market – Cardiac Pacemaker Market 
  • Market Value – US$ 3,923.8 Mn in 2024 
  • Market CAGR Value – -0.5% in 2024 
  • Market Forecast Year – 2020 to 2030 

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Persistence Market Research (PMR) delivers key insights on the global cardiac pacemaker market in its upcoming report titled, “Cardiac Pacemaker Market: Global Industry Analysis and Forecast, 2016–2024”. The global cardiac pacemaker market was valued at US$ 4,100.0 Mn in 2015 and this is likely to decline to US$ 3923.8 Mn by 2024. In terms of revenue, the global cardiac pacemaker market is anticipated to exhibit a declining CAGR of -0.5% over the forecast period owing to various factors, on which PMR offers detailed insights and forecasts.

Global cardiac pacemaker market dynamics

A key unmet need in global cardiac pacemaker market is the lack of a 100% safe and efficient pacemaker device to treat arrhythmias. There is an imperative need for development of cost-effective and rapid diagnostic methods for arrhythmias with a growing geriatric population and increasing patient pool with escalating global demand for treatment.

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Company Profiles

  • BIOTRONIK SE & Co. KG
  • Boston Scientific Corporation
  • Medtronic
  • St. Jude Medical Inc.
  • LivaNova PLC.
  • lepumedical.com
  • Osypka Medical GmbH
  • Pacetronix.com
  • MEDICOWEB

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This is anticipated to offer lucrative opportunities to new players in the global cardiac pacemaker market. Various key players in the cardiac pacemaker market are signing partnerships and licensing deals to share the research and development platform. In 2014, Medtronic has signed a deal with Lifetech Scientific to bring pacemaker into the Chinese market. According to the agreement, Lifetech Scientific shall manufacture pacemaker at their facility and Medtronic’s would provide with technology and required training.

Global cardiac pacemaker market forecast

The market is segmented based on product type, end users, and regions. Based on product type, the market is segmented into implantable pacemaker and external pacemaker. Both the segments are expected to exhibit a negative CAGR for the forecast period, owing to increasing number of device recall related to device malfunctioning. The implantable pacemaker segment is expected to exhibit a declining CAGR of -0.5% and external pacemaker segment is expected to exhibit a declining CAGR of -1.0% during the forecast period.

Based on end users, the market is segmented into hospitals and ambulatory surgical centers.  The hospitals segment is anticipated to account for the highest market share over the forecast period exhibiting a declining CAGR of -0.1% due to better reimbursement rates offered by government and non-government bodies.

This report assesses trends, that drive growth of each segment on the global as well as regional levels, and offers potential takeaways, that could prove substantially useful to medical device manufacturing companies who wish to enter into the global cardiac pacemaker market. North America and Europe are expected to lose market share in terms of revenue generation.

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Latin America, APAC, and MEA are collectively expected to be more attractive in terms of revenue generation in the global cardiac pacemaker market in 2016 with growth in revenue for the forecast period. Latin America is expected to expand at a CAGR of 1.1% closely followed by Asia Pacific with a CAGR of 1.0% over the forecast period, due to increase in the diagnosis rate and improved healthcare infrastructure.

The India cardiac pacemaker market is expected to increase over other markets and register a CAGR of 1.5% in the region due to increased government initiative, increase in health care expenditure, and increase in disease prevalence. The growth of cardiac pacemakers in this region is largely due to increased participation of local manufacturers and increasing healthcare expenditure.

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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

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Persistence Market Research
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Medical Implants Sterile Packaging Market To Grow At 6.5% Y-O-Y In Forecast Years 2024

Market Report Summary 

  • Market – Medical Implants Sterile Packaging Market 
  • Market Value – US$ 2,436.4 Mn in 2024 
  • Market CAGR Value – 6.5% in 2024 
  • Market Forecast Year – 2020 to 2030 

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According to a new report by Persistence Market Research titled “Medical Implants Sterile Packaging Market: Global Industry Analysis and Forecast, 2016–2024”, the global medical implants sterile packaging market is anticipated to be valued at US$ 1,427.8 Mn by the end of 2016 and this is estimated to increase to US$ 2,436.4 Mn by the end of 2024, registering a CAGR of 6.5% in terms of value during the forecast period (2016 – 2024). Orthopedic implants (including spinal implants, reconstructive joint implants, and extremity braces & support) is expected to gain a significant market share owing to a large global baby boomer population prone to orthopedic ailments.

Global medical implants sterile packaging market dynamics

A growing demand in medical packaging and increasing usage of hygiene packaging among multiple end users is anticipated to drive advances in the industry. Medical implants sterile packaging is one of the emerging packaging solutions, widely used for pharma packaging, and is driven by factors such as increasing implant surgeries, innovative medical equipment and implants, increasing chronic degenerative diseases, and changing lifestyle of people.

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Companies Profiles

  • Oliver Tolas
  • Bemis Company, Inc
  • Steripack Contract Manufacturing
  • Orchid Orthopedic Solutions LLC
  • Multivac Group.
  • Janco Inc
  • Sealed Air Corporation

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Global medical implants sterile packaging market forecast

The global medical implants sterile packaging market report is categorically split into four sections – based on product type, material type, application, and region. On the basis of product type the global medical implants sterile packaging market has been segmented into pouches & bags, blister, clamshell, tubes, vials, and others. On the basis of material, the global medical implants sterile packaging market has been segmented into plastic, foils, paper, and others.

On the basis of application, the global medical implants sterile packaging market has been segmented into spinal implants, extremity braces & support, dental implants, cardiovascular implants, reconstructive joint implants, and other implants. On the basis of region, the global medical implants sterile packaging market has been segmented into the five key regions of North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

The pouches & bags product type is likely to emerge the dominant segment throughout the forecast period due to its wide application in multiple pharma industries. The pouches & bags product type segment is estimated to create a large market share of 53.1% in 2016 and is expected to expand at a CAGR of 6.9% from 2016 to 2024 in terms of value.

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The clamshell product type segment is anticipated to witness high Y-o-Y growth rates ranging from 5.8% to 7.2% over 2016–2024 and is expected to exhibit a CAGR of 7.6% in terms of value over the forecast period.

The foils material type segment is expected to create a significant CAGR of 7.3% in terms of value over the forecast period. The paper material type segment is projected to grow at lower Y-o-Y rates ranging from 5.6% to 5.7% over 2016–2024.

The dental implants application segment is estimated to account for 13.7% market share by 2016 end and is anticipated to remain stagnant at 13.8% during the forecast period. The cardiovascular implants segment is projected to grow at a CAGR of 7% in terms of value during 2016–2024.

Among regions, Asia Pacific is anticipated to be the key region driving overall demand for medical implants sterile packaging owing to the increasing usage of packaging and growing consumer spending power in the region. Mature markets such as North America and Europe are expected to witness uneven growth while Latin America and MEA are expected to register sluggish growth throughout the forecast period.

Europe is anticipated to witness higher Y-o-Y growth rates ranging from 5.9% to 6.2% over 2016–2024, and is estimated to record 7.3% CAGR in terms of value over the forecast period.

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Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

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Persistence Market Research
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The Next Generation Antibody Therapeutics Market To Display Growth In Revenue By 13% Between 2022

Market Report Summary 

  • Market – Next Generation Antibody Therapeutics Market 
  • Market Value – US$ 6.76 Bn in 2022 
  • Market CAGR Value – 13% in 2022 
  • Market Forecast Year – 2020 to 2030 

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According to a new market report published by Persistence Market Research “Global Market Study on Next-Generation Antibody Therapeutics: Biosimilar Antibody Products to Witness Highest Growth by 2022”, the global next-generation antibody therapeutics market is project to be valued at US$ 2,250.0 Mn by the end of 2015 and is expected to expand at a CAGR of 13.0% from 2015 to 2022, to account for US$ 6,761.1 Mn by 2022.

Next-generation antibody therapeutics refers to improved antibody therapeutics with enhanced efficiency, greater safety, and improved delivery. Advancements in monoclonal antibody technologies have led to the development of next-generation therapeutic antibodies with reduced functional size, greater bifunctional properties, and low immunogenicity.

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Some of the major players in the market:

  • F. Hoffmann-La Roche Ltd.
  • Kyowa Hakko Kirin Co., Ltd.
  • Seattle Genetics, Inc.
  • ImmunoGen, Inc.
  • Amgen, Inc.
  • Biogen.
  • Bayer AG.
  • Xencor, Inc.

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Next-generation antibody-based therapeutics enhances existing properties of therapeutic antibodies for the treatment of various medical conditions such as cancer, infectious diseases, and autoimmune diseases.

Globally, the next-generation antibody therapeutics market is witnessing significant growth due to technological advancements in antibody therapeutics and increasing the prevalence of chronic diseases. In addition, rising healthcare expenditure and growing R & D activities are driving the growth of the next-generation antibody therapeutics market.

However, stringent regulatory requirements and long approval time for new drug restrains the growth of the market. Similarly, high costs of next-generation antibody therapeutics is a major concern for the market.

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North America is the largest market for next-generation antibody therapeutics. This is mainly due to increasing prevalence of chronic diseases and increasing healthcare spending in the region. The North America next-generation antibody therapeutics market is projected to be valued at US$ 1,104.4 Mn by the end of 2015 and is expected to account for US$ 3,691.8 Mn by 2022 at a CAGR of 14.5%.

On the basis of technology, biosimilar antibody products are the fastest growing segment. On the basis of therapeutic application, oncology is the largest segment in next-generation antibody therapeutics market.

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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

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Persistence Market Research
Address – 305 Broadway, 7th FloorNew York City,
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Call For Inorganic Expansion To Record A CAGR Of 17.5% In The Latin America Capnography Equipment Market Between 2021

Market Report Summary 

  • Market – Latin America Capnography Equipment Market 
  • Market Value – US$ 30.2 Mn in 2021 
  • Market CAGR Value – 17.5% in 2021 
  • Market Forecast Year – 2020 to 2030 

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According to a new market report published by Persistence Market Research “Latin America Capnography Equipment Market: Brazil to Witness Highest Growth by 2021”, the capnography equipment market for Latin America was valued at USD 9.7 million in 2014 and is expected to expand at a CAGR of 17.5 % from 2014 to 2021, to reach USD 30.2 million by 2021.

The capnography equipment market is growing rapidly in Latin America majorly due to the recommendations to use capnography in routine hospital settings by esteemed organizations and government bodies. The World Health Organization (WHO), in its 2009 report on safe surgery, recommended the use of capnography monitoring during endotracheal tube placement, hypoventilation, and esophageal intubation for better outcome.

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Major players profiled in this report include:

  • Drägerwerk AG & Co. KGaA.
  • Masimo Corporation.
  • Medtronic, Inc.
  • Nihon Kohden Corporation.
  • Nonin Medical, Inc.
  • Philips Healthcare.
  • Smiths Medical.
  • Welch Allyn, Inc.

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The Uruguayan Society of Anesthesiologists and the American Society of Anesthesiologists recommended capnography monitoring in routine-use during procedural sedation and anesthetics. These guidelines substantiate the importance of capnography equipment in hospital use. Moreover, high impact of the U.S. health care system on the health care market in Latin America is augmenting the capnography equipment market in this region.

Based on types of capnograph, the sidestream capnograph segment dominated the capnography equipment market in 2014, with a share of around 52.9%. Easy-to-use and capability to monitor the patient in non-intubated condition are the major factors that contributed to the high demand for sidestream capnograph. Additionally, presence of large number of players including local companies offering sidestream capnograph in their portfolio has increased the awareness and demand for sidestream capnograph in Latin America.

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The microstream capnograph segment has been projected to witness high growth during the forecast period in Latin America as these are cost-effective and offer several advantages in all hospital settings. The device could also be used for monitoring both non-intubated patients and neonates. However, sidestream capnograph cannot be used to monitor neonatal patients and mainstream capnograph lack the capability to monitor non-intubated patients.

Based on countries, Brazil held the largest share of around 31.4% of the capnography equipment market in Latin America in 2014. High demand for plastic surgery, rising medical tourism for various types of dental surgeries, cosmetic surgeries and cardiac procedure, and large proportion of GDP expenditure on health care in Brazil are the major factors propelling the capnography equipment market in the region. Brazil is anticipated to be the fastest growing market for capnography equipment in Latin America during the forecast period.

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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

Contact us:

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Persistence Market Research
Address – 305 Broadway, 7th FloorNew York City,
NY 10007 United States
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The Home Infusion Therapy Market To Go Strong With 9% CAGR Between 2021

Market Report Summary 

  • Market – Home Infusion Therapy Market 
  • Market Value – US$ 26,747 Million in 2021 
  • Market CAGR Value – 9% in 2021 
  • Market Forecast Year – 2020 to 2030 

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According to a new market report published by Persistence Market Research “Global Market Study on Home Infusion Therapy Devices – Needleless Connectors to Witness Highest Growth by 2020”, the global home infusion therapy devices market was valued at US$ 15,905.1 Mn in 2014 and is expected to grow at a CAGR of 9% from 2014 to 2020, to reach US$ 26,747.8 Mn by 2020.

Home infusion therapy facilitates intravenous at-home administration of medicines into the patient’s body through needle and catheter. The therapy is prescribed by physicians and administered by trained healthcare professionals. It is used when oral medication is not effective for the treatment of diseases such as cancer and gastrointestinal diseases.

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Some of the major players in the home infusion therapy devices market:

  •     Hospira, Inc.
  •     B. Braun Melsungen AG.
  •     Caesarea Medical Electronics.
  •     Fresenius Kabi AG.
  •     Smiths Medical.
  •     CareFusion Corporation.
  •     ICU Medical, Inc.
  •     JMS Co. Ltd.
  •     Baxter.
  •     Terumo Corporation.

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It is also used in the treatment of diabetes, cystic fibrosis, dehydration, and acute infections. Home infusion therapy reduces time spent by patients in hospitals, nursing homes, and clinics. The therapy is used to administer drugs, antibiotics, nutrients, and other fluids into the veins on a daily, weekly, or monthly basis, depending on the patient’s condition. Home infusion therapy is an effective and safe alternative against conventional hospitalization for the treatment of diseases.

This is due to convenience and friendly environment at the patient’s home, which helps in faster recovery from diseases. Home infusion therapy includes total parenteral nutrition, infusion antibiotic therapy, hydration therapy, IV steroid therapy, chemotherapy, enteral therapy, and pain management. Some major infusion devices used for administration of medicines are infusion pump, intravenous equipment, and needleless connectors. Infusion pumps are categorized as ambulatory infusion pump, large volume infusion pump, and syringe infusion pump.

Globally, the home infusion therapy devices market is witnessing significant growth due to the expanding home care market for infusion therapy and increasing application of infusion devices for relieving pain. Moreover, rising aging population, increasing number of chronic diseases, and technological advancements in infusion devices are also supporting the growth of home infusion therapy devices market.

However, increasing risk to patient safety and occurrence of mistakes while using infusion devices as well as issues related to reimbursement policies for home infusion therapy inhibit the growth of the market. The global home infusion therapy devices market is anticipated to grow from US$ 15,905.1 Mn in 2014 to US$ 26,747.8 Mn by 2020 at a CAGR of 9% during the forecast period.

In North America, the home infusion therapy devices market is growing due to increasing number of patients with chronic diseases such as cancer, AIDS, and diabetes. In addition, growing aging population is also supporting the growth of home infusion therapy devices market in the region.

The home infusion therapy devices market in Europe is growing due to increasing aging population and rising popularity of non-hospital procedures in the region. Furthermore, increasing number of chronic diseases which requires home infusion therapy, such as cancer, diabetes, and AIDS, is also boosting growth of the Europe home infusion therapy devices market.

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According to the National Center for Biotechnology Information (NCBI) – a branch of the National Institutes of Health – around 3.4 million new cases of cancer and 1.7 million deaths from cancer were reported in Europe in 2012. Moreover, according to the Oxford Journals, approximately 7 37,747 men and 5 76,489 women died from cancer in Europe in 2013. Furthermore, according to the European Diabetes Leadership Forum 2012, Copenhagen, about 35 million adults in Europe were suffering from diabetes in 2011, which is anticipated to rise to 43 million by 2030.

Asia represents the fastest-growing market for home infusion therapy devices. This is primarily due to growing aging population and cost effectiveness of home infusion therapy. In addition, rising popularity of non-hospital procedures and increasing prevalence of chronic diseases in the region is further driving the market. According to the National Home Infusion Association, home infusion therapy is more cost-efficient compared to hospitalization treatment.

For instance, home infusion therapy cost nearly US$ 200 a day compared to less than US$ 2,000 a day in a hospital. According to the Wisut Jaijagcome/East-West Center, the number of people aged 65 years and above in Asia was 207 million in 2000 and the number is expected to reach 857 million by 2050.

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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

Contact us:

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Persistence Market Research
Address – 305 Broadway, 7th FloorNew York City,
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Osteoporosis Drugs Market To Register CAGR 4% Growth In Revenue Between 2022

Market Report Summary 

  • Market – Osteoporosis Drugs Market 
  • Market Value – US$14,786.7 Mn in 2022 
  • Market CAGR Value – 4% in 2022 
  • Market Forecast Year – 2020 to 2030 

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According to a new market report published by Persistence Market Research “Global Market Study on Osteoporosis Drugs: AsiaPacific to Witness Highest Growth by 2022”, the global osteoporosis drugs market is estimated to be valued at US$11,226.1 Mn by the end of 2015 and is expected to expand at a CAGR of 4.0% from 2014 to 2022, to account for US$14,786.7 Mn by 2022.

The global osteoporosis drugs market is witnessing significant growth due to rising geriatric population and changing lifestyles impinging bone health. Prevalence of osteoporosis is high among people aged 60 years and above. Moreover, increasing the prevalence of osteoporosis in postmenopausal women, growing awareness about osteoporotic care, and increasing investment in drug discovery and development are also driving the growth of the market.

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Top companies profiled in this report are:

  • Eli Lilly and Company
  • F. Hoffmann-La Roche Ltd.
  • Merck & Co, Inc.
  • Novartis AG
  • Amgen, Inc.
  • Novo Nordisk A/S
  • Actavis plc
  • Pfizer, Inc.
  • GlaxoSmithKline plc
  • Teva Pharmaceutical Industries Ltd

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However, there are various side effects and complications associated with osteoporosis drugs such as heartburn, irritable bowel syndrome, nausea, and ulcers in the stomach or esophagus. Furthermore, patent expiration of osteoporosis drugs also inhibits the growth of the market.The osteoporosis drugs market is anticipated to grow from an estimated US$11,226.1 Mn by the end of 2015 to account for US$14,786.7 Mn by 2022 at a CAGR of 4.0% during the forecast period.

In North America, the prevalence of osteoporosis is high primarily due to increasing geriatric population, growing obesity, and rising prevalence of lifestyle associated diseases in the region. According to the National Osteoporosis Foundation, in 2013, approximately 54 million people in the U.S. aged 50 years and above were affected by osteoporosis and low bone mass. According to the U.S. Department of Health and Human Services, in the U.S., approximately 250,000 hip fractures are associated with osteoporosis.

In Europe, increasing aging population, changing lifestyles, and increasing consumer awareness about osteoporosis care are driving the growth of the osteoporosis drug market. According to the International Osteoporosis Foundation, approximately 5.5 million men and 22 million women suffered from osteoporosis in 2010. Moreover, according to International Osteoporosis Foundation, approximately 27.5 million people in Europe suffered from osteoporosis in 2010 and the number is expected to reach 33.9 Mn by 2030.

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However, the growth of osteoporosis market in Asia Pacific is much due to rising geriatric population and changing lifestyles in the region. Osteoporotic patients have a higher risk of hip fractures, owing to a major cause of morbidity and mortality.

According to the International Osteoporosis Foundation, by 2050, approximately 50% of the world’s osteoporosis hip fractures would occur in women in Asia. In addition, according to a study on Epidemiology in Osteoporosis in Japan by the National Centre for Biotechnology Information, in 2011, approximately 15 million people suffered from osteoporosis in Japan.

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About us:

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

Contact us:

Ashish Kolte
Persistence Market Research
Address – 305 Broadway, 7th FloorNew York City,
NY 10007 United States
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Biopharmaceutical Market To Witness A CAGR Of 9.4% Between 2021

Market Report Summary 

  • Market – Biopharmaceutical Market 
  • Market Value – US$ 278,232.9 Mn in 2021 
  • Market CAGR Value – 9.4% in 2021 
  • Market Forecast Year – 2020 to 2030 

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According to a new market report published by Persistence Market Research “Global Market Study on Biopharmaceuticals: Asia to Witness Highest Growth by 2020”, the global biopharmaceuticals market was valued at US$ 162 Bn in 2014 and is expected to grow at a CAGR of 9.4% from 2014 to 2020, to reach an estimated value of US$ 278 Bn by 2020.

Biopharmaceuticals are medicinal drugs, produced by isolation of the medicinal products from biological sources such as from animals, plants, humans and microorganisms, using biotechnological techniques such as recombinant DNA technology.

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Some of the major players in the Biopharmaceuticals market:

  • Pfizer, Inc.
  • F. Hoffmann-La Roche AG.
  • Johnson & Johnson Services, Inc.
  • Sanofi, Amgen Inc.
  • AbbVie Inc.
  • Merck & Co., Inc.
  • Biogen Idec.
  • Bayer AG.
  • Eli Lilly and Company.
  • Novartis AG GlaxoSmithKline Plc.
  • Bristol-Myers Squibb Company.
  • AstraZeneca PLC.
  • Abbott Laboratories.

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They can also be produced using transgenic organisms, particularly animals and plants that have been genetically engineered to produce drugs. These drugs help in prevention and treatment of various diseases such as rheumatoid arthritis, psoriatic arthritis, psoriasis, cardiovascular disease, anemia arising from chemotherapy, chronic renal failure, cancer, and diabetes.

Globally, the biopharmaceuticals market is witnessing significant growth due to increasing prevalence of chronic diseases, rising aging population, technological advancements in biopharmaceuticals, and increasing R&D investments. In addition, the capability of biopharmaceuticals to approach a particular target with high efficacy helps in the treatment of various chronic diseases and disorders.

Biopharmaceuticals, such as monoclonal antibodies, hormones, cytokines, clotting factors, cell therapies, antisense drugs, recombinant insulin, and vaccines, have the potential to prevent, treat, and completely heal the diseases which are otherwise difficult to cure or have no available treatment. This, in turn, fuels growth of the biopharmaceuticals market.

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However, factors such as high costs of biopharmaceuticals, the risk of side–effects, and availability of low-cost biosimilars are restraining the growth of the global market for biopharmaceuticals. The global biopharmaceuticals market was valued at US$ 162 Bn in 2014 and is expected to reach US$ 278 Bn by 2020 at a CAGR of 9.4% during the forecast period.

North America is the largest market for biopharmaceuticals. This is due to technological advancements in the region. The North America market for biopharmaceuticals was valued at US$ 64.7 Bn in 2014 and is expected to reach US$ 111.5 Bn by 2020 at a CAGR of 9.5% over the forecast period. In terms of type, monoclonal antibodies are the fastest growing segment. In terms of therapeutic application, oncology is the largest segment in the biopharmaceuticals market. Biopharmaceuticals have wide applications in the pharmaceutical industry.

One of the latest trends in the global biopharmaceuticals market is that of outsourcing, where biopharmaceutical companies are dependent on contract manufacturing organizations to produce a biopharmaceutical drug substance, which helps reducing investments for a new product launch.

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