Ophthalmic Devices Market is Expected to Reach $55.5 Billion by 2024| Top Industry Players Alcon, Inc., Bausch & Lomb, Inc

San Francisco, 1 November 2018: The global ophthalmicdevices market is expected to reach USD 55.5 billion by 2024, according to a new report by Grand View Research, Inc. The rising geriatric population base is presumed to propel the need for ophthalmic devices as this age group is more prone towards the development of chronic eye disorders. The rising prevalence of eye disorders such as macular degeneration, cataract, diabetic retinopathy and glaucoma is also boosting the growth of ophthalmic devices.

Approximately 10% of the people suffering from eye disorders will experience loss of vision in spite of the proper treatment as per the statistics of the WHO, driving the clinical urgency to incorporate highly advanced ophthalmic devices. Additionally, the rising demand for minimally invasive and complication-free operative surgeries is expected to upsurge the demand for ophthalmic devices.

The ophthalmic devices market growth can also be attributed to technological advancements such as the development of intraocular lenses, mydriatic fundus cameras, and OCT devices. Furthermore, the increasing involvement of market players in expanding treatment solutions through strategic alliances is expected to present this market with a potential growth platform. For instance, in May 2016, Bausch & Lomb through its enterprise partnership with Apple and IBM will develop a cataract surgery app that would integrate patient data, calculation data, and records thereby helping cataract surgeons’ work efficiently. The app will be enabled with IBM’s cognitive computing capabilities to reduce surgical errors.

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Further key findings from the study suggest:

·       The vision care segment dominated the product segment of the overall ophthalmic devices market in terms of revenue share at over 78.0%in 2015,owing to its adoption in vision correction procedures and the rising number of initiatives to promote the awareness pertaining to vision care

·       For instance, in April 2016, Alcon announced its support to the “Think About Your Eyes”, which is a public awareness program. Alcon committed USD 4 million to support this initiative to promote the awareness pertaining to vision care

·       The diagnostic& monitoring devices segment is expected to grow at the fastest CAGR at over 7.0% in 2015. This can be attributed to the fact that diagnosis is an indispensable process in the treatment of eye disorders and is responsible for contributing towards the diagnostics & monitoring segment’s growth

·       In 2015, North America dominated the overall ophthalmic devices market at over 36.0%owing to the increasing utilization of ophthalmic devices in hospitals and private clinics. Moreover, subsequent changes in demographic trends, such as a rise in the geriatric population & unhealthy lifestyles, are presumed to drive the market in this region. Moreover, high R&D investments in the development of new products are expected to impel the market growth in North America

·       Asia Pacific is anticipated to be growing at the fastest CAGR of around 7.0% over the forecast period due to the presence of untapped opportunities in the emerging economies in China and India. Moreover, the increasing government initiatives towards healthcare infrastructure; for instance, in China, healthcare reforms through an initiative called New Health Care Reform Plan implemented by the Chinese State Council and the Communist Party of China (CPC) Central Committee is expected to drive growth of the Chinese regional market.

·       Some key players in this market are involved in adopting collaborative strategies and indulge in frequent product approvals to facilitate business and geographical expansions. For instance, in February 2016, Alcon acquired Transcend Medical, Inc., in a probe to expand its business in the treatment of glaucoma. This acquisition added Minimally Invasive Glaucoma Surgical (MIGS) devices to Alcon’s product portfolio.

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Grand View Research has segmented the ophthalmic devices market on the basis of product and region:

Global ophthalmic devices product outlook (Revenue, USD Million, 2013 - 2024)

·         Diagnostics & Monitoring Devices

·         Surgical Instruments

·         Vision Care Products

Ophthalmic devices regional outlook (Revenue, USD Million, 2013 - 2024)

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         MEA

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Speech Analytics Market is Expected to Reach $1.64 Billion by 2025| Key Industry Participants Call Miner, Nexidia

San Francisco, 1 November 2018: The speechanalytics market is expected to reach USD 1.64 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to witness a robust growth exceeding a CAGR of 10% over the forecast period. This growth is ascribed to the increasing emphasis by organizations on improving the market intelligence capabilities along with the growing prominence of voice in the multi-channel world.

The number of contact centers is increasing, resulting in industry players to innovate speech analytics solutions, which help companies understand the changing customer requirements. The technology has been increasingly adopted in consumer electronics devices, including laptops, smartphones, and tablets, as it significantly increases the enterprise’s scope as well as improves performance. This, in turn, has resulted in elevating adoption of speech analytics solutions worldwide. In addition, upcoming technologies, such as voice print authentication, are estimated to spur growth over the coming years.

Furthermore, the rising demand for risk management solutions and cloud analytics is also anticipated to favorably impact growth over the next nine years. These solutions offer several growth opportunities as this solution helps optimize performance and enhance customer experience. However, issues pertaining to lack of awareness and rise in cost may pose a challenge to the speech analytics market growth in the near future.

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Further key findings from the report suggest:

·       The service segment is anticipated to grow at a CAGR exceeding 8.0% from 2016 to 2025, which is attributed to the wide product and solution portfolio offerings by service firms operating in the market.

·       The cloud-based deployment segment captured over 25.0% of the total revenue share in 2015 and is anticipated to exhibit growth of over 9.0% from 2016 to 2025, primarily ascribed to the cost benefits and improved performance offered by cloud over the on-premise solutions, along with the increasing adoption of cloud analytics in contact centers.

·       Speech analytics allows organizations to work on unstructured data obtained through customer interactions to enhance customer experience and gain a competitive advantage on account of which the small & medium-sized enterprise segment is expected to gain prominence over the forecast period.

·       The telecommunication segment accounted for a significant market share in 2015, capturing over 15% of the entire revenue share in the same year, which is majorly due to the integration of speech analytics into enterprise systems to enhance efficiency as well as customer experience.

·       Asia Pacific is expected to emerge as the fastest growing region with a CAGR exceeding 12.0% over the forecast period, which is mainly on account of rapid industrialization, and since, organizations have become more competitive and are focusing on better customer service. 

Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/communication-services

Grand View Research has segmented the speech analytics market on the basis of type, deployment, enterprise size, end-use, and region: 

Type Outlook (Revenue, USD Million; 2014 - 2025)

·         Solution

·         Service

Deployment Outlook (Revenue, USD Million; 2014 - 2025)

·         On-premise

·         Cloud

Enterprise Size Outlook (Revenue, USD Million; 2014 - 2025)

·         Small & Medium Enterprise

·         Large Enterprise

End-Use Outlook (Revenue, USD Million; 2014 - 2025)

·         BFSI

·         Telecommunication

·         IT

·         Retail

·         Healthcare

·         Government

·         Hospitality

·         Others

Regional Outlook (Revenue, USD Million; 2014 - 2025)

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Medical Polymers Market Expected to Witness a Sustainable Growth over 2020| Key Industry Participants Celanese Corporation, Eastman Chemicals

San Francisco, 1 November 2018: According to a report by Grand View Research, Inc., global medicalpolymers market is anticipated to value USD 17.05 billion by 2020. Growing requirement for durable and light weight medical devices and equipment is anticipated to propel demand for medical polymers. These polymers are likely to chemical inertness and superior fatigue resistance, low cost, and high flexibility.

High demand for advanced medical instruments attributed to rising cases of chronic diseases can surge demand for medical polymers over next few years. Rising healthcare expenditure coupled with increasing number of hospitals and medical centers globally can fuel growth of market. Growing need for surgical instruments such as clamps, gloves, syringes, medical bags owing to rising adoption of surgeries among patients can influence market growth. Increasing number of geriatric population globally liable to chronic diseases are likely to fuel demand for medical devices and equipment. This, in turn, can surge growth of medical polymers market over the forecast period (2012 to 2020). 

The medical polymers market can be segregated on the basis of product, application, and region. Based on product, the market can be categorized into medical elastomers, medical resins & fibers, biodegradable plastics, and others. In 2016, fibers and resins segment dominated the market and accounted for 86% of overall volume. Increasing use of fibers and resins in multiple applications such as cranial injuries, hip & joint replacement, spinal implant attributed to low cost and bio-compatibility. This, in turn, can fuel growth of segment over next few years.

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On the contrary, biodegradable plastics segment is likely to grow at highest CAGR of 15.8% over the forecast period owing to growing awareness regarding health concerns related to synthetic polymers.

Based on application, the market can be classified into medical packaging, medical equipment & devices, and others. Medical equipment and devices segment is expected to contribute well for growth of market over next few years attributed to rising cases of chronic diseases globally. In addition, rising healthcare expenditure among consumers living in United States, Germany, and China can drive market growth during the forecast period. It is likely to grow at CAGR of 8.8% over the forecast period owing to growing home-care sector.

Similarly, packaging segment can grow at CAGR of 7.8% in terms of revenue over the forecast period. Growing adoption of medical polymers in pharmaceutical packaging can influence growth of segment during next few years.

Regional segmentation includes Europe, Asia Pacific, North America, and rest of the world. North America is expected to dominate the market and account for largest market share over the forecast period. Growing prevalence of chronic diseases coupled with expansion of insurance coverage can fuel growth of market in the region. In addition, rising awareness regarding health benefits of medical polymers owing to low cost advantage over ceramics and metals can fuel market growth. Moreover, high performance offered by medical devices made from polymers can spur growth of market in the region.

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In Asia Pacific, emerging economies such as China and India are likely to witness significant growth over the forecast period. It is expected to reach market value of USD 4.07 billion by 2020 attributed to rising adoption of  high performance polymers for disposable medical components. In addition, high demand for medical devices owing to rising medical tourism is expected to propel growth of market in the region. Moreover, increasing R&D investments from Chinese government for producing advanced medical polymers can augment market growth in the region.

Some of the leading companies offering medical polymers are Bayer Material Science AG, Celanese Corporation, Eastman Chemical, Exxon Mobil Corporation, and Shanghai New Shanghua Polymer Material Co. Ltd. The market is expected to be characterized by extensive integration by major market players through different stages of value chain. Most companies are likely to distribute their products via dedicated supply networks. In addition, they can also offer customized products according to applications for which product is supposed to be used. Moreover, this market is subject to multiple technological advancements related to advanced polymers that can be used in healthcare sector. Development of new and innovative products is expected to be one of those business strategies adopted by manufacturing companies to gain traction among consumers.  

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Global Medical Device Testing Services Market to Account for $13.4 Billion by 2025|Top Industry Players Eurofins Scientific, LLC; Intertek Group plc

San Francisco, 1 November 2018: According to a report published by Grand View Research, Inc.; the medicaldevice testing service market is expected to reach a valuation of around USD 13.4 billion by 2025.

Strict regulatory standards related to user safety and high demand for good quality products can propel the market over the forecast period (2014 to 2025). In addition, substantial rise in preclinical expense for pharmaceutical as well as medical device is expected to support the market growth.

Increasing complexity in product design along with strict regulatory policies is one of the crucial trends driving the market growth. Factors such as introduction of personalized medicines, artificial intelligence, drug device combinations, wearables, and real-time patient monitoring have led to complex medical device ecosystem. This has increased the need for testing services to get approvals in the market. In-house testing is not possible to many companies as it may take more time and labor costs to complete these tests. Increasing demand for in-vitro test is also expected to increase the demand for testing services due to growing development of in-vitro methods to replace traditional in-vivo methods, which need animal testing. These methods are generally improved for sensitization, irritation, and cytotoxicity.

Worldwide medical device testing services market can be segmented on the basis of service, phase, and region. Based on service, the market can be biocompatibility tests, chemistry test, microbiology and sterility testing, and packed validation.

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In 2016, the microbiology and sterility segment conquered the market. The biocompatibility test segment is expected to show significant growth during the forecast period. The cost of biocompatibility test is expected to reduce due to development of innovative in-vitro methods. The chemistry test segment is a projected to show rapid growth over the forecast period due to several advantages associated with it.

As per phase, the market can be classified into clinical and preclinical. In 2016, the preclinical segment estimated for the major share and likely to show high growth during the forecast period. This phase determines the safety, efficacy, and biocompatibility of biomaterials, prosthesis, and medical devices. The clinical segment is also projected to show significant growth over the study period. This segment involves in sterilization testing and validation, cleaning validation, shelf life and accelerated aging test, and package and shipping testing.

Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

In 2016, Asia Pacific dominated the market in terms of revenue due to high outsourcing rate in emerging countries such as China and India. CROs are extensively making high investments in emerging economies due to presence of operating low cost and greater availability of skilled labors.

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In 2016, North America stood on the second position.  and is estimated to show remarkable growth during the forecast period. This region is one of the topmost manufacturing centers for complex, reliable, and high-quality medical devices. The region has several established CROs, which offers comprehensive testing services for medical device companies.

The market in the Europe is mainly driven by countries including Germany, the U.K., France, Spain, and Italy. Increasing need for cost cutting and rise in complexity in product designing are considered as key drivers that would drive the market in this region.

Prominent players operating in the market include Toxikon, Inc.; Charles River Laboratories International, Inc.; Toxikon, Inc.; Sterigenics International LLC; and Pace Analytical Services LLC.The market is currently observing significant rise in number of companies in recent years. The market is highly fragmented by few major companies and numerous small and medium enterprises (SMEs). The growth of this industry can be associated with increasing demand from small and mid-size companies, due to absence of in-house facilities for testing. The participants in the market are mainly focusing on portfolio expansion and to expand their geographical reach to gain higher market share. The market has also observed high consolidation in CRO space in recent years.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Mining Equipment Market Size is Expected to Reach $128.39 Billion by 2025| Top Industry Players Joy Global Inc.; Sandvik AB

San Francisco, 1 November 2018: The global miningequipment market size is expected to reach USD 128.39 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 6.5% during the forecast period. Rising drilling and exploration activities globally are expected to provide an impetus to industry growth.

Increasing demand for resources in the mining sector has encouraged players in the sector to adopt technologies and procedures that streamline every step of the exploration process. This need has enabled mining companies to roll out automated equipment including drillers, excavators, and trucks to boost efficiency while reducing need for human intervention.

Increasing product launches and focus on automation is expected to offer new growth avenues in the mining sector. These new product launches and automation technologies have the potential to transform daily operations and optimize returns on mining assets. Furthermore, favorable government initiatives such as fiscal incentives and coal mining policies are further aiding industry growth.

Decreasing ore grades and exhaustion of minerals are imposing a threat to mining companies, which has led to shifting mining sites to more remote locations. These locations bring with them technical complexities related to labor, energy consumption, and infrastructure, which require efficient mining equipment, thereby driving market growth.

Increasing demand for iron ore, coal, diamonds, and chromium in emerging countries is expected to provide strong growth avenues for surface mining over the next few years. Burgeoning adoption of this equipment facilitates selective mining operations by producing high-quality materials and creating embankments and stable surfaces.

Additionally, there has been increasing demand for underground mining equipment from the coal industry. Many countries such as India, UAE, Brazil, and China have made substantial investments in coal activities and oil and gas production satiate their energy requirements. Surging infrastructure development activities are expected to supplement coal demand in the Asia Pacific region, as it is one of the most crucial raw materials required in the manufacturing of cement and steel.

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Further key findings from the report suggest:

·       The mineral processing machinery segment is anticipated to gain substantial market share by 2025. It is a crucial process that most ores have to go through post-mining to ensure a more concentrated material

·       The metal mining application segment is expected to expand at a CAGR of 6.7% over the forecast period. Increased gold exploration activities globally are expected to account for segment growth

·       Revenue share of the North America market is expected to surpass 9.6% by 2025. This growth can be attributed to identification of new natural gas reserves in U.S.

·       Key players in the industry include Caterpillar Inc.; Komatsu Ltd.; Joy Global Inc.; Sandvik AB; Atlas Copco AB; and Metso Corporation.

Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments

Grand View Research has segmented the global mining equipment market report based on product, application, and region:

Mining Equipment Product Outlook (Revenue, USD Billion, 2014 - 2025)

·         Mining drills & breakers

·         Crushing, pulverizing, & screening equipment

·         Mineral processing machinery

·         Surface mining equipment

·         Underground mining machinery

·         Others

Mining Equipment Application Outlook (Revenue, USD Billion, 2014 - 2025)

·         Metal mining

·         Mineral mining

·         Coal mining

Mining Equipment Regional Outlook (Revenue, USD Billion, 2014 - 2025)

·         North America

o    U.S.

o    Canada

·         Europe

o    Germany

o    U.K.

·         Asia Pacific

o    China

o    India

·         Rest of the Word (RoW)

Access Press Release of Mining Equipment Market@ www.grandviewresearch.com/press-release/mining-equipment-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com