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Covid-19 Diagnostics Market Analysis & Opportunities Forecast to 2022 to 2032 | FMI

The COVID-19 Diagnostics Market is positioned for exceptional growth, projecting a substantial climb to surpass the valuation of US$ 204.51 billion by 2032, driven by an impressive compound annual growth rate (CAGR) of 7.7%. This anticipated surge reflects the crucial role of diagnostic tools in managing the ongoing pandemic. As global efforts continue to combat COVID-19, this market’s exponential expansion underscores the significance of accurate and efficient testing solutions. The trajectory not only demonstrates the resilience of the healthcare sector but also the industry’s commitment to advancing diagnostic technologies in the face of unprecedented challenges.

The report features unique and salient factors that may make a huge impact on the development of the Covid-19 Diagnostics Market during the forecast period. It can help market players modify their manufacturing and marketing strategies to envisage maximum growth in the market in the years to come. The report provides detailed information about the current and future growth prospects of the market in the most comprehensive way for better understanding of readers.

Download The Free Sample PDF
https://www.futuremarketinsigh....ts.com/reports/sampl

Key Segments of Covid-19 Diagnostics Market

FMI’s study on the market offers information divided into four important segments— Drug Class, Route of Administration, Application, and Region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Key Takeaways from FMI’s Covid-19 Diagnostics Market Study

Molecular assay holds the largest share right now and the trend is expected to continue till the end of 2020. This could be attributed to the fact that molecular assays have been looked upon as a gold standard to detect novel viral infections
Diagnostic labs contributed to more than 60% of total market share in 2020’s first quarter

Key Challenges for Market Players & Researchers

Right now, the challenges faced include lack of information regarding the virus, like genetic information, biologics, duration of immunity in the recovered patients.

Certain treatment options that are expected to be potential game changers include ACE-Mab by Sorrento Therapeutics, HCQ (Hydroxychloroquine and chloroquine), Remdesivir antiviral by Gilead Sciences, and Canakinumab (Ilaris) by Novartis.

Moreover, options like cell-based therapies that involve natural killer cells or Mesenchymal stem cells and plasma therapies are on the verge of providing personalized treatment options.

Key Participant Insights

The key participants are focusing on acceleration of production as well as new product approval phase. For example – Novacyt Group, in Mar 2020, received EUA for 2-hour Covid-19 test. Also, in Apr 2020, CE approval was received by Abbott for IgG serology blood test for Covid-19.

The other players in the market include Veredus Laboratories, Thermo Fisher Scientific, Inc., Quidel Corporation, Perkin Elmer, Inc., Neuberg Diagnostics, Mylab Discovery Solutions Pvt Ltd., Luminex Corporation, Laboratory Corporation of America Holdings, Hologic Inc., Danaher, Cepheid, bioMérieux SA, Altona Diagnostics GmbH, ALDATU BIOSCIENCES, ADT Biotech Sdn Bhd, and 1drop Inc.

Key Segment

Product Type

Instruments
Test Kits
Reagents and Consumables

Sample Type

Oropharyngeal & Nasopharyngeal Swabs
Blood
Urine
Others

Technology

PCR
ELISA
POC

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa

Prosthetic Heart Valve Market Revenue Forecast 2023 - 2033

The global prosthetic heart valve market size stood at US$ 10.9 Billion in 2021 and is anticipated to reach a valuation of US$ 12.3 Billion by the end of 2022, driven by the growing prevalence of valvular disorders such as aortic stenosis (AS), organic and ischemic (functional) mitral regurgitation, and tricuspid regurgitation. The market is projected to experience remarkable growth, expanding at a CAGR of 11.4% between 2022 and 2032, culminating in a total market size of US$ 36.3 Billion by 2032.

Hospitals emerged as the dominant end user in the global prosthetic heart valve market in 2021, accounting for a revenue share of over 75%. This trend is expected to persist throughout the forecast period, attributed to the increasing number of surgical procedures performed in hospitals and the availability of advanced healthcare infrastructure.

According to Future Market Insights, an increasing prevalence of valvular heart disease (VHD) is expected to augment the growth of the global prosthetic heart valve market during the forecast period. Regulatory approval for heart valves, integration of technological advancements, and an increasing number of heart valve implantation procedures are other factors expected to influence the revenue growth of the global prosthetic heart valve market in the next 10 years. However, high costs associated with transcatheter heart valve products, procedure-related risks and complications, and product recalls are some restraints likely to hamper the growth of the global prosthetic heart valve market over the forecast period.

Download the Free Sample PDF
https://www.futuremarketinsigh....ts.com/reports/sampl

Segmentation highlights

The global prosthetic heart valve market is segmented based on Product Type (Mechanical Heart Valves, Biological/Tissue Heart Valves, Transcatheter Heart Valves) and End User (Hospitals, Ambulatory Surgery Centres).

The Transcatheter Heart Valves product type segment is estimated to be valued at US$ 6,069.1 Mn by 2026 end, registering a CAGR of 13.3% between 2016 and 2026
The Hospitals end user segment accounted for 74.5% market share of the global prosthetic heart valve market in 2015. Rising demand for quicker treatment options and remedies is expected to promote the revenue growth of the Hospitals segment over the forecast period

Regional market projections

The global prosthetic heart valve market is segmented by region into North America, Latin America Excluding Brazil, Brazil, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), and Middle East & Africa (MEA). The global prosthetic heart valve market is largely prominent in the developed regions.

The North America regional market is estimated to witness the highest CAGR of 12.4% during the forecast period followed by the Western Europe regional market at 12.1%. Factors such as legislative openness and inline approval procedures are expected to contribute largely to the revenue generation potential and attractiveness of the Western Europe prosthetic heart valve market. Rising adoption of transcatheter heart valves in geriatric patients for better care is expected to fuel revenue growth in the Japan prosthetic heart valve market over the forecast period.

Vendor insights

The report on the global prosthetic heart valve market profiles some of the leading companies dominating the global prosthetic heart valve market. Top market players featured in the global prosthetic heart valve market report are Edwards Lifesciences Corporation, St. Jude Medical, Inc., Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, SYMETIS, LivaNova PLC, CryoLife, Inc., Braile Biomedica, Colibri Heart Valve LLC, and JenaValve Technology, Inc. Leading market players are focussing on delivering differentiated therapies to cardiac patients and are strengthening their foothold in the global prosthetic heart valve market through strategic collaborations and acquisitions.

Key competitors covered in terms of prosthetic heart valve market are Edwards Lifesciences Corporation, St. Jude Medical, Inc., Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, SYMETIS, LivaNovaPLC, CryoLife, Inc., Braile Biomedica, Colibri Heart Valve, LLC, and JenaValve Technology, Inc.

Key strategies adopted by most of the major players in the global prosthetic heart valve market include: product approvals and commercialisation, leveraging existing capabilities to create patient-centric technologies, briskly entering markets in emerging countries and offering the latest innovative technologies to healthcare facilities and, thus strengthening regional proficiency and addressing customer needs. New product launches, innovation and expansion are anticipated to form the core of these strategies during the forecast period.

Key Segment

By Product Type

Mechanical Heart Valves
Mechanical Aortic Valve
Mechanical Mitral Valve
Biological/Tissue Heart Valves
Tissue Aortic Valve
Tissue Mitral Valve
Transcatheter Heart Valves
Transcatheter Aortic Valve
Transcatheter Mitral Valve

By End User

Hospitals
Ambulatory Surgery Centres

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