Monthly Archives: February 2015

Medical Transcription Services Market is Expected to Reach USD 60.6 Billion Globally in 2019

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According to a new market report published by Transparency Market Research “Medical Transcription Services Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, the global medical transcription services market was valued at USD 41.4 billion in 2012 and is expected to grow at a CAGR of 5.6% from 2013 to 2019, to reach an estimated value of USD 60.6 billion in 2019.

Medical transcription (MT) is one of the application based domains of healthcare management and is currently facing intense transformation. Factors such as infrastructural initiatives taken up by governments, implementation of electronic health record systems in developed nations, automation of healthcare operations and growing concerns for offering better, safe and swift healthcare service to the patients will have an impact on the current model of medical transcription industry.

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The global medical transcription is segmented on the basis of service types and by the mode of procurement of transcription services. Based on service type, the medical transcription services is classified into History and Physical Report (H&P), Discharge Summary (DS), Operative Note or Report (OP), Consultation Report (CONSULTS), Others (Pathology Report (PATH) & Radiology Report (x rays or radiographs)) market. The market share of CONSULT reports is largest among all the other reports in the medical transcription services market as these reports are repeatedly produced for single patients undergoing treatment each time the patient visits the specialist. It is expected that the global market fort CONSULT reports will reach USD 21.1 billion with the market growing at a CAGR of 3.3% from 2013 to 2019. Earlier H&P reports were made only for hospitalized patients and patients undergoing treatment which involved several visits to specific clinics or hospitals but currently H&P reports are made for both inpatients as well as outpatients to reduce the risk of reimbursement issues. This has increased the share of H&P reports in the overall medical transcription services market.

Any healthcare institute in order to acquire medical transcription service can either outsource the job to a domestic medical transcription service organization, offshore or opt for both methods. Outsourcing is the most preferred mode of service procurement in medical transcription with the market share of 62.2% in 2012. In addition, large internationally operating healthcare organizations prefer to opt for both the modes of service procurement, due to reasons such as ease of operations, rapid turnaround times and easy allocation of monetary resources on the basis of nature of reports.
Asian countries such as India and Philippines are some of the leading hubs for offshoring of transcription services. Most of the offshored business is captured by these countries and is supported by government incentives and subsidies for setting new business and expansion of existing business units. United Arab Emirates (UAE) and Latin America are emerging markets in RoW followed by Qatar. North America currently dominates and is expected to retain its position in the medical transcription services market in the future. Growth drivers for this market in North America are factors such as rise in aging population and passing of Patient Protection and Affordable Healthcare Act, 2013. The North America medical transcription services market was worth more than USD 18 billion and is expected to grow at a CAGR of over 5% in the forecast period.

The global medical transcription services market is highly competitive in nature with a large number of market consolidation activities being conducted in the past ten years. Some of the key market players operating in this market include Acusis LLC, Nuance Communications,Inc., MModal, Inc., iMedX Information Services Pvt. Ltd, Precyse Solutions LLC, Scribe Healthcare Technologies, Inc., Superior Global Solutions, Inc., Transcend Services, Inc. and TransTech Medical Solutions.

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The global medical transcription services market is segmented as follows:

Medical Transcription Services Market, by Service Type

  • History and Physical Report (H&P)
  • Discharge Summary (DS)
  • Operative Note or Report (OP)
  • Consultation Report (CONSULTS)
  • Others (Pathology Report (PATH) & Radiology Report (X-rays or radiographs)

Medical Transcription Services Market, by Mode of Procurement

  • Outsourcing
  • Offshoring
  • Both

Medical Transcription Services Market, by Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

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Spectrometry Market Expected to Reach USD 19.6 Billion Globally in 2020

According to a new market report published by Transparency Market Research “Spectrometry Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020”, the global spectrometry market was valued at USD 12,212.9 million in 2013 and is estimated to reach USD 19,608.7 million by 2020 at a CAGR of 7.2% from 2014 to 2020.

Spectrometry is a scientific technique employed to access properties of light within specific electromagnetic spectrum to identify variety of materials. In the past few decades spectrometry techniques have been resilient enough in providing scientists an informative tool to cater to vast array of applications in various industries. Overall competition in spectrometry market is intense with large conglomerates competing for considerably small application areas and end user segments. Multinational companies account for majority of the revenue share in overall market. The spectrometry market caters to several end user segments such as life sciences, petrochemical, food and safety, forensics among several others. Advanced spectrometry devices allow simultaneous analysis of low concentration analytes in blood samples without any need for sample preparation and other conventional processing techniques such as centrifugation and reagent preparation.

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The global spectrometry market can be studied from two perspectives: by technologies and by application areas. The global spectrometry market by technology can be further broken down into atomic spectrometry, mass spectrometry and molecular spectrometry. The atomic spectrometry segment encompasses atomic absorption spectrometry, X-ray diffraction spectrometry, X-ray fluorescence spectrometry, inductively coupled plasma-atomic emission spectrometer, elemental analyzers and other atomic spectrometers. Atomic spectrometers generally provide information about elemental composition of samples based on the emission of lights that are characteristic of elements present in the sample. The molecular spectrometry market includes nuclear magnetic resonance spectrometry, ultraviolet visible spectrometry, infrared spectrometry, color measurement, near-infrared spectrometry and Raman spectrometry. By 2020, nuclear magnetic resonance (NMR) spectrometry is likely to lead the market in terms of revenues which is estimated to reach approximately USD 1.7 billion worldwide. Sales in molecular spectrometry are majorly contributed by infrared, near-infrared and Raman spectrometry owing to increasing demand for devices in academic and research institutes, security and defense sector especially in economically developed countries. The mass spectrometry segment include variety of products such as gas chromatography-mass spectrometry(GC-MS), liquid chromatography-mass spectrometry (LC-MS), matrix-assisted laser desorption/ionization-time of flight spectrometry (MALDI-TOF), triple-quadrupole liquid chromatography-mass spectrometry, quadrupole-time of flight liquid chromatography-mass spectrometry (Q-TOF LC/MS), inductively coupled plasma mass spectrometry and others.

Innovation in spectrometry techniques has been a major contributing factor for the growth and demand in past couple of years. Handheld and portable instruments with superior imaging quality have effectively contributed towards onsite analysis of samples which reduces the efforts of carrying heavy and bulky samples to laboratories for analysis. Handheld and portable spectrometry devices have found indispensible application in drug identification, food inspection, environmental application and defense sector. The global spectrometry devices market by application is sub-categorized into pharmaceuticals, biotechnology, industrial chemistry, environmental testing, food and beverages among others. Increasing clinical application of spectrometry device in tissue analysis, toxicology, proteomics and disease marker is effectively contributing towards growth and uptake of global spectrometry market. Stringent regulatory scenario with respect to monitoring of soil and water samples is also contributing towards growth and procurement of spectrometry devices globally. Biotechnology market by 2020 is expected to be the fastest growing application area with a CAGR of 18.4%.

Geographically, the spectrometry market is segmented into four prominent geographies: North America, Europe, Asia-Pacific and Rest of the World. Although market for spectrometry devices in developed economic countries such as the United States and Europe in terms of technological advancements has attained a saturation level yet widening of application areas such as space and aeronautics and defense would continue to contribute towards market growth in these regions. Moreover, funds allocation from government organizations and companies for conducting research and development activities at various universities and private research center level are other prominent drivers for the growth of spectrometer devices.
Companies like Thermo Fisher Scientific and Waters Corporation in order to promote academic research by young scientists in mass spectrometry sponsor 2 research awards worth USD 35,000 each to academic scientists. Such activity not only promotes the overall spectrometry market but also encourages research studies to explore and develop novel techniques and application areas pertaining to mass spectrometry development. Apart from this AB SCIEX, an analytical tool manufacturer conducts Young Investigators Grant and Partnerships Award Program to provide special grants to budding researchers and scientists which can be used towards the purchase of selected AB SCIEX MS or LC/MS systems. Asia-Pacific and rest of the World market are among the fastest growing market by 2020 owing to inclination of investment by key players towards these markets primarily due to presence of large untapped customer base and increasing research activities in countries like India, China and other South East Asian countries.

Some of the key players in the global spectrometry market include Thermo Fisher Scientific, Inc., Perkin Elmer, Inc., Agilent Technologies, Inc., Bruker Corporation, Waters Corporation, Shimadzu Corporation, AB Sciex and others.

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The global spectrometry market is segmented as follow:

Spectrometry Market, by Technology

Atomic Spectrometry

  • Atomic Absorption Spectrometry
  • X-ray Diffraction Spectrometry
  • X-ray Fluorescence Spectrometry
  • Elemental Analyzers
  • Inductively Coupled Plasma Atomic Emission Spectrometry
  • Others
  • Molecular Spectrometry

Nuclear Magnetic Resonance Spectrometry

  • Ultraviolet Visible Spectrometry
  • Infrared Spectrometry
  • Color Measurement
  • Near Infrared Spectrometry
  • Raman Spectrometry
  • Others

Mass Spectrometry

  • Gas Chromatography-Mass Spectrometry
  • Liquid Chromatography-Mass Spectrometry
  • Matrix-Assisted Laser Desorption/Ionization-Time of Flight Spectrometry
  • Triple-Quadrupole Liquid Chromatography-Mass Spectrometry
  • Quadrupole-Time of Flight Liquid Chromatography-Mass Spectrometry
  • Inductively Coupled Plasma Mass Spectrometry
  • Others

Spectrometry Market, by Application

  • Pharmaceuticals
  • Biotechnology
  • Industrial Chemistry
  • Environmental Testing
  • Food and Beverages Testing
  • Others

Spectrometry Market, by Geography

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

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An Expert Suggestions on Itrathecal Pumps Market Forecast till 2020

According to a new market report published by Transparency Market Research “Intrathecal Pumps Market – Global Industry Analysis, Size, Share, Procedures, Growth, Trends and Forecast, 2014 – 2020,” the global intrathecal pumps market was valued at USD 0.19 billion in 2013 and is expected to grow at a CAGR of 4.1% from 2014 to 2020, to reach an estimated value of USD 0.26 billion in 2020.

Intrathecal pumps are implantable infusion devices, miniature in size and are surgically placed under the skin of the abdomen. These intrathecal pumps deliver medication through a small flexible tube called catheter, to the spine. These pumps are capable of delivering precise dose of medication from one or any combination of reservoirs without complex pumping and are generally opted when a patient seeks long term medication and other alternatives are costly or less effective. A drug can be infused over an extended period of time and can be delivered at constant or variable rates by regulating the implantable infusion pump as per physician specifications. The drug reservoir is refilled with the help of an external needle injection via a self-sealing septum in the implantable infusion pump.

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The global intrathecal pumps market can be categorized into two major applications: pain and spasticity management. Pain management accounts for the largest share in the intrathecal pumps market, followed by spasticity management. It is expected that the global market for pain management will grow at a CAGR of over 4% from 2014 to 2020. According to the data provided by the International Agency for Research on Cancer (IARC), the number of cancer patients in 2012 rose to 14.1 million new cases in 2012 and the number of deaths due to cancer was estimated to be approximately 8.2 million. With such large magnitude of the disease, there is substantial need for infusion systems to treat cancer pain. Hence, the intrathecal pumps market is expected to grow further as more and more drugs demonstrate safety and efficacy.
With technological up gradation, researchers have successfully developed and manufactured infusion pumps that can deliver multiple medications via a single infusion pump such as use of morphine in treating nociceptive pain and bupivacaine in treating neuropathic pain. The use of multiple medications in a single drug reservoir may bring in drug stability issues and a complex dosing challenge with respect to varying concentration and administration rates for each drug. Thus, many more product modifications are still required to assure precise and accurate drug administration with minimal error rates.

Geographically, North America is the dominant regional market for intrathecal pumps with almost half of the market share, followed by Europe accounting for around 30% share due to large patient base suffering from chronic pain. The positive reimbursement scenario for these devices in the U.S. contributed significantly to the growth of the market. The intrathecal pumps market in North America is expected to grow at a CAGR of more than 3.5% during the forecast period from 2014 to 2020.

Emerging nations such as India, China, and Brazil offer immense opportunities for the growth of the intrathecal infusion pumps market. Some major factors responsible are growing economy and strengthening insurance policies. The economic growth in these developing countries is expected to enhance disposable income of the patient population and in turn increase the healthcare expenditures. It has also helped increase healthcare infrastructure investments in several countries which will intensify growth of hospital equipment in most countries. Government of these nations in collaboration with private insurance companies are focusing towards improving healthcare coverage in order to support access to better healthcare facilities.

If safety issues concerned with the devices can be controlled and curbed, the market for implantable infusion pumps is likely to grow exponentially in the future as Medtronic, till its recall in 2013, sold almost 140,000 Synchromed Pumps which were mostly used in pain management. It is estimated that 116 million people in the U.S. suffer from chronic pain, which in many cases is not adequately controlled with pain management drugs, including oral narcotic agents and others. This will create growth opportunity for device manufacturers in terms of sales and revenue. The competition in this market is characterized by market consolidation activities, partnerships and intensive mergers and acquisitions. Intrathecal pumps market is dominated by few major players such as Medtronic, Inc., Codman & Shurtleff, Inc. and Flowonix, Inc. Other players in the intrathecal pumps market are Arrow International, Inc., Tricumed GmbH and Medallion Therapeutics, Inc.

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The global intrathecal pumps market is segmented as follows:

Intrathecal Pumps Market, by Application

Pain Management

  • North America
  • U.S.
  • Canada
  • Europe
  • Asia Pacific
  • Rest of the World

Spasticity Management

  • North America
  • U.S.
  • Canada
  • Europe
  • Asia Pacific
  • Rest of the World

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Global Urodynamics Equipment and Disposables Market Expected to Reach USD 216.3 Million Globally by 2020

According to a new market report published by Transparency Market Research “Urodynamics Equipment and Disposables Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”, the global urodynamics equipment and disposables market was valued at USD 140.4 million in 2013 and is expected to grow at a CAGR of 6.1% during the forecast period from 2014 to 2020 to reach USD 216.3 million in 2020.

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Urodynamics tests comprise a range of examinations that are useful for obtaining functional information regarding bladder filling, emptying and urine storage. The focal objective of urodynamics is to comprehend the dysfunction of lower urinary tract by replicating the patient’s symptoms, when present, and determining the cause of these symptoms by suitable urodynamics investigations that would help in programming an appropriate treatment regimen for bladder dysfunction (e.g. urinary incontinence, stress incontinence, bladder neck obstruction, prostatitis, and benign prostatic hyperplasia, etc.).

Uroflowmetry equipment, cystometer, ambulatory urodynamic systems, electromyographs and video urodynamic systems cumulatively form the urodynamics equipment market; among which uroflowmetry equipment emerged as the segment leader in terms of revenue (generating over USD 30 million) in 2013. This has been attributed to the easy availability, high patient and physician preference. On the other hand, ambulatory urodynamics systems are expected to exhibit the highest growth rate of over 8.5% during the forecast period 2014 to 2020 due to their widespread market availability, portable design and advanced microprocessor technology that help these devices in delivering reliable test outcomes.

Furthermore, within the disposables segment, air-charged catheters accounted for the largest market share of the total urodynamics disposables market in 2013. Air-charged catheters are expected to lead the market during the forecast period from 2014 to 2020, at the highest CAGR of 6.7%. Benefits of air-charged catheters such as ease of handling, absence of air-bubble interference coupled with presence of weightless air column are some of the major driving factors of these catheters in the urodynamics disposables market.

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In terms of regional distribution, North America dominated the global urodynamics equipment and disposables market in 2013 and accounted for a share of over 40% of the global market in the same year. High adoption rate of urodynamics tests among urologists and urogynecologists along with presence of large number of testing centers across the region are some of the major factors that are boosting the growth of this market in North America. Moreover, growing incidence of urological dysfunctions and perpetual innovations in the nature of urodynamics capital equipment are some of the additional factors that are driving the growth of this market. Asia Pacific, on the other hand, witnessed the highest growth rate in the urodynamics equipment and disposables market. The ever-growing, price-sensitive population in the developing countries of Asia coupled with growth in incidence of urological dysfunctions among the geriatric population is expected to boost the urodynamics equipment and disposables market in the region during the forecast period.

The urodynamics equipment and disposables market is highly fragmented due to the large presence of equipment manufacturers and providers that generally range from local to global enterprises. The global urodynamics equipment and disposables market, therefore, is characterized by the presence of only a few renowned market players. These include Albyn Medical S.L., American Medical Systems, Inc., CooperSurgical, Inc., Covidien plc, C. R. Bard, Inc., HealthTronics, Inc., LABORIE, Medical Measurement Systems B.V. and Verathon, Inc. Among these, in 2013, LABORIE held the largest market share of the total global urodynamics equipment and disposables market at over 50%. Its market leadership was attributed to several factors such as strong distribution channels, extensive product portfolio and well managed supply competence. The market is expected to remain highly competitive in the next few years with the entry of other global players in the urodynamics equipment and disposables market.

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The global urodynamics equipment and disposables market is segmented as follows:

Global Urodynamics Equipment and Disposables Market, by Type of Products

  • Uroflowmetry Equipment
  • Cystometers
  • Ambulatory Urodynamics Systems
  • Electromyographs
  • Video Urodynamics Systems
  • Urodynamics Disposables
  1. Air-charged Catheters
  2. Water-filled Catheters
  3. Infusion, Extension & Perfusion Pump Tubing Sets
  4. Transducer Sets

Global Urodynamics Equipment and Disposables Market, by Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

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Orthodontic Equipment and Consumables Market Expected to Reach USD 11.0 Billion Globally in 2020

According to a new market report published by Transparency Market Research “Orthodontic Equipment and Consumables Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”, the global orthodontic equipment and consumables market was valued at USD 6.1 billion in 2013 and is expected to grow at a CAGR of 8.8% from 2014 to 2020, to reach an estimated value of USD 11.0 billion in 2020.

Orthodontics is a specialized field of dentistry that deals with the study of irregularity in the alignment of teeth. Orthodontics field has experienced tremendous growth in the last decade. Perpetual development in orthodontics coupled with rising awareness about benefits of orthodontic treatment is resulting in rising demand for orthodontic equipment and consumables. In addition, increasing adoption of orthodontic treatment among adult population owing to availability of user friendly and effective orthodontic tools is fueling the growth of global orthodontic equipment and consumables market.

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The global orthodontic equipment and consumables market is segmented into orthodontic equipment and orthodontic consumables. Orthodontic equipment market is further categorized as CAD/CAM systems, dental chairs, handpieces, light cure, scaling unit, dental lasers, and dental radiology equipment. Dental radiology equipment market accounted for the largest market in 2013. While CAD/CAM systems segment of the global orthodontic equipment market is estimated to grow at the highest CAGR during forecast period 2014 to 2020. CAD/CAM systems have benefits such as automation of product designing and manufacturing, which enables ease of application to clinicians and enhances aesthetics. Accuracy provided by the CAD/CAM systems is one of the key factors supporting the growth of this market segment. Thus, considering all these advantages, adoption of CAD/CAM systems in orthodontics is expected to rise swiftly during the forecast period from 2014 to 2020.

Orthodontic consumables market is categorized as anchorage appliances (Buccal tube, bands and miniscrews), ligature (elastomeric ligature and wire ligature), bracket (aesthetic brackets, metal brackets and self ligating brackets), and archwires (nickel titanium archwire, stainless steel archwire and beta titanium archwire) market. Brackets segment market accounted for the largest market share in 2013. Factors such as increasing demand for orthodontic brackets due to perpetual launch of new brackets by key companies is the major factor driving the growth of the orthodontic brackets market. In addition, advancement in technology such as smart bracket technology is fueling the growth of the orthodontic brackets market globally. Therefore, it is estimated that the global brackets market is estimated to grow at the highest CAGR during the forecast period 2014 to 2020.

Further, the global orthodontic equipment and consumables market is segmented into regional markets namely, North America, Europe, Asia Pacific and Rest of the World (RoW). Presently, North America is leading the global orthodontic equipment and consumables market with market share of 43.0% in 2013. Availability of exceptionally developed healthcare infrastructure, well organized regulatory framework, wide distribution network and high rate of awareness about orthodontic treatment are some of the factors that are driving the orthodontic equipment and consumables market in North America. Asia Pacific orthodontic equipment and consumables market is expected to show significant growth during the forecast period from 2014 to 2020. Factors such as rapidly developing healthcare infrastructure, rising government support and disposable income are anticipated to drive the orthodontic equipment and consumables market in Asia Pacific. Some of the key market players contributing to the global orthodontic equipment and consumables market include 3 Shape A/S, Danaher Corporation, A- Dec, Inc. Dentsply International Inc. Henry Schein, Inc., GC Corporation, Midmark Corporation, Septodont, Patterson Companies, Ultradent Products, Inc., Sirona Dental Systems Inc and Zimmer Dental Inc.

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Regulatory Affairs Outsourcing Market Expected to Reach USD 4.49 Billion Globally in 2020

According to a new market report published by Transparency Market Research “Regulatory Affairs Outsourcing Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020,” the global regulatory affairs outsourcing market was valued at USD 1.56 billion in 2013 and is expected to grow at a CAGR of 14.6% from 2014 to 2020, to reach an estimated value of USD 4.49 billion in 2020

At present, biopharmaceutical industries are highly synchronized by various regulatory authorities across the globe. For the protection of public health, medical devices and pharmaceutical products are subject to strict regulations. Most of the pharmaceutical companies are opting to outsource their regulatory affairs operations to various competent contract research organizations (CROs) and contract manufacturing organizations (CMOs) in order to acquire timely approval from regulatory bodies. Furthermore, cost efficiencies, process improvement and utilization of the expertise available with the CROs are some of the primary factors which are responsible for the growth of regulatory affairs outsourcing market. Due to higher costs associated with the clinical trial and development procedures and the rising need for cost containment among manufacturing companies and rapid product commercialization, the regulatory affairs outsourcing market is expected to propel during the forecast period of 2014 to 2020.

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The regulatory writing and publishing services segment accounted for the largest share, i.e., more than 40% of the total regulatory affairs outsourcing market in 2013. Factors that have contributed towards the growth of the segment are growing need for rapid approval and submission of drug applications. Moreover, regulatory writers have appropriate understanding of the global and domestic regulatory requirements, thereby driving the growth of the regulatory writing and publishing services market. Similarly, in terms of growth rate, the regulatory consulting and legal representation services segment is estimated to grow at the fastest growth rate of over 13% from 2014 to 2020 of the regulatory affairs outsourcing market. Growing pressure for regulatory consulting and increasing need of client interaction with various regulatory agencies has attributed towards the growth of the regulatory consulting and legal representation services segment.

Geographically, North America accounted for the largest share (more than 30%) of the total regulatory affairs outsourcing market in 2013. However, Asia Pacific countries such as Japan, South Korea, Malaysia, Australia, Thailand, India and China are witnessing remarkable growth and are anticipated to grow at a CAGR of over 15% during the forecast period of 2014 to 2020 due to extensive presence of skilled workforce and easy market penetration in developing economies. Moreover, favorable support from governments for healthcare infrastructure would further boost the growth of the regulatory affairs outsourcing market in Asia Pacific.

The impressive growth of the regulatory affairs outsourcing market is likely to attract various market entrants. Major players operating in the regulatory affairs outsourcing market are Charles River Laboratories International, Inc., Covance Group Ltd., Parexel International Corporation, Quintiles Transnational Holdings, Inc., Medpace, Inc., Promedica International, Clinilabs, Inc., Accell Clinical Research, LLC, Criterium, Inc., ICON plc and Pharmaceutical Product Development.

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Cosmetic Implants Market Expected to Reach USD 3.2 Billion Globally in 2020

According to a new market report published by U.S. based market research company, Transparency Market Research “Cosmetic Implants Market – Global Industry Analysis, Size, Share, Growth, Trends & Forecast, 2014 – 2020” the global cosmetic implants market was valued at USD 2.1 billion in 2013 and is estimated to reach a market worth of USD 3.2 billion in 2020 growing at a CAGR of 5.7% from 2014 to 2020.

Increasing number of cosmetic surgeries owing to rising awareness and introduction of new and technologically advanced implant devices are considered as the important drivers of this market. Cosmetic implant devices are used for replacement of missing parts and modification of aesthetic appearance. Increasing awareness about aesthetic appearance and benefits of implants are projected to boost the market growth. Moreover, increasing number of cosmetic surgeons and growing medical infrastructure are expected to propel the market growth during the forecast period from 2014 to 2020.

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The global cosmetic implants market was segmented on the basis of types of sources and applications. Polymer implants was the largest source of cosmetic implant devices and held majority share in 2013, owing to abundant presence of raw materials and extensive use in the manufacturing of breast, facial and body contouring implants. Metal implants segment is likely to witness the highest growth rate. Steadily growing number of cosmetic dentistry practices and high cost of implant devices likely to boost the market growth. Similarly, breast implants was considered as the largest application segment of cosmetic implants market in 2013. This dominance was majorly due to extensive number of breast implant practices owing to rise in awareness is likely to accentuate the market of breast implants. It is anticipated that this application segment would retain its dominance by the end of 2020. Moreover, this segment is projected to grow at a highest CAGR of 6.6% during the forecast period from 2014 to 2020.

Europe was the largest cosmetic implant market globally in 2013, due to extensive number of cosmetic dentistry practices coupled with high cost of devices and procedures and strong awareness about aesthetic appearance and benefits of implant devices and surgeries. However, Rest of the World (RoW) is estimated to witness strong growth and emerge as the most promising and fastest growing market during the forecast period from 2014 to 2020. The growth is expected to be driven by factors such as rapidly growing medical tourism, low cost of implant devices compared to developed countries such as the U.S. and the U.K. and increasing awareness towards physical and aesthetic appearance.

The market is consolidated and is dominated by selective players operating on a global level, such as, Straumann, Nobel BioCare, Allergan, Inc., Mentor Worldwide LLC and Sientra, Inc. Straumann was the market leader in cosmetic dentistry market with around 18.8% of the total share of cosmetic dental implants market. This was followed by Nobel BioCare and DENTSPLY International, Inc. In 2013, Allergan, Inc. dominated the global cosmetic implants market (excluding cosmetic dentistry segment). This was followed by Mentor Worldwide LLC and Sientra, Inc. Geographical expansion and development of new and safe implant devices are the key strategies pursued by different market players to accentuate their market shares.

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