Contactless Payment Transaction Market: Overview

This report on the global contactless payment transaction market provides analysis for the period 2015–2025, wherein 2016 is the base year and the period from 2017 to 2025 is the forecast period. Data for 2015 has been included as historical information. The report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the global contactless payment transaction market growth during the said period. Mode of payments that are playing a major role in the driving the global contactless payment transaction market have also been covered in the study.

The study provides a comprehensive analysis on market growth throughout the above forecast period in terms of revenue estimates (in US$ Bn), across different geographies. Contactless payment is a safe and sound method for consumers to buying products or services through credit card, debit card, contactless card (NFC/RFID), contactless wearable devices, and contactless mobile payment, by using NFC or RFID technology. Furthermore, in contactless payment consumer needs to tap their purchasing card near a sales desk which is known as “tap-and-go” also it does not require a PIN or signature.

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Contactless Payment Transaction Market: Segmentation

The contactless payment transaction market has been segmented on the basis of mode of payment and end-use. Based on mode of payment, the market has been further classified into Contactless Card (NFC/RFID), Wearable Devices, Contactless Mobile Payment. By end-use, the market is further classified into Hospitality, Transport, Media & Entertainment, Retail, Healthcare, Others.

Geographically, the report classifies the global contactless payment transaction market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America; the regions are analyzed in terms of revenue generation. Furthermore, the study also includes quantitative analysis of the competitive scenario for region wise prominent countries which covered in the report include the following – the U.S, Canada, Germany, France, the U.K., Poland, Sweden, China, India, Japan, Australia, South Korea, Taiwan, Singapore, UAE, Saudi Arabia, South Africa, Turkey, Brazil and Argentina. The market size and forecast for each region has been provided for the period from 2015 to 2025 along with the CAGR (%) for the forecast period from 2017 to 2025.

Contactless Payment Transaction Market: Scope of the Report

The report also includes key industry developments in the contactless payment transaction market. Porter Five Force analysis is also included in the report. Ecosystem Analysis which identifies the process of distribution of the product in the contactless payments services is also covered in the report. The report also covers segment wise, market attractiveness analysis and market positioning analysis for all regions covered in the scope of study.

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This report shows market attractiveness analysis for all the segments and for all the regions in the scope of study which identifies and compares segments market attractiveness on the basis of CAGR and market share index.

Contactless Payment Transaction Market: Competitive Landscape

The report also includes competition landscape which include competition matrix, market position analysis of major players in the global contactless payment based on their 2016 revenues, profiling of major players (Contactless Card (NFC/RFID), Wearable Devices, and Contactless Mobile Payment providers). Competition matrix benchmarks leading players on the basis of their capabilities and potential to grow. Factors including market position, offerings and R&D focus are attributed to company’s capabilities. Factors including top line growth, market share, segment growth, infrastructure facilities and future outlook are attributed to company’s potential to grow. This section also identifies and includes various recent developments carried out by the leading players.

Company profiling includes company overview, major business strategies adopted, SWOT analysis and market revenues for past years. The key players profiled in the global contactless payment transaction market include Apple Inc., Barclays, Gemalto N.V., Giesecke & Devrient GmbH, Heartland Payment Systems, Inc., Ingenico Group, Inside Secure, On Track Innovations LTD, Samsung Electronics Ltd., Verifone Systems, Inc., and Wirecard AG.

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Asia Pacific Platelet Rich Plasma Market: Booming Medical Tourism Sector to Stir up Demand, says TMR

The market for platelet rich plasma in Asia Pacific features a semi-consolidated competitive landscape. A new study by Transparency Market Research (TMR) indicates that players such as Arthrex Inc., Harvest Technologies, DePuy Synthes, Zimmer-Biomet, and Stryker have a strong foothold in the market owing to their strong expertise and extensive research and development efforts. By the end of 2023, the overall value of the Asia Pacific platelet rich plasma (PRP) market is estimated to rise to US$110.0 mn. The market will expand at a noteworthy 15.4% CAGR from 2015 to 2023.

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Demand for Platelet Rich Plasma to Remain High for Orthopedic Surgeries

Based on application, the orthopedic surgeries segment will continue to dominate the market until 2023. The widening base of geriatrics is one of the primary factors fuelling the growth of the segment. The demand for PRP in cosmetic surgeries is also anticipated to increase at a brisk pace during the review period. In terms of country, China will continue to account for the lion’s share in the region until 2023. The growth of the country can be attributed to the high awareness and growing investments in research and development activities in the field of PRP. Owing to these factors, the country will rise at a remarkable CAGR of 17.0% during the same period.

Advent of Advanced PRP Devices to Allow Asia Pacific Market to Gain Traction

The continual research and development activities have led to the introduction of several advanced and innovative PRP devices, which in turn has provided a fillip to the Asia Pacific PRP market. Over the past few years, Asia Pacific has witnessed a boom in the medical tourism sector. Advancements in healthcare in the region have rendered it as a major destination for cosmetic surgeries at affordable costs for people from all across the world. “With millions of people opting for cosmetic surgeries, especially non-invasive type, the demand for PRP in APAC is expected to follow a notable growth trajectory,” says TMR’s lead analyst.

Besides this, the growing incidence of sports injuries, orthopedic diseases, obesity, neurological disorders, and cardiovascular diseases is stoking the growth of the market. The increasing awareness regarding PRP devices across developing countries is also playing a vital role in the development of the Asia Pacific platelet rich plasma market.

Increasing Prices Due to Commercialization of Cosmetic Surgeries to Hamper Growth Prospects

“In recent type, cosmetic surgeries have picked up momentum as a commercialized procedure rather than a treatment for certain skin issues,” says a TMR analyst. The commercialization of these surgeries has triggered the prices of PRP therapies. This, in turn, is acting as a stumbling block in the growth of the Asia Pacific platelet rich plasma market. Moreover, the rising awareness pertaining to the threats associated with the use of PRP is limiting its widespread adoption across the region. Nevertheless, with the introduction of new applications of PRP technologies, the market is expected to tread along a healthy growth track in the near future.

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About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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Global Online Gambling and Betting Market: Overview

Online gambling and betting consists of operators providing gambling and betting games such as poker, casino, sports betting, lottery and other games to end-user through digital environment. This helps end-users to witness gambling and betting activities in real-time through their mobile and other electronic devices. The demand for online gambling and betting is expected to increase in the coming years owing to the growing ease in regulatory norms by various countries globally. The adoption of online gambling by a number of traditional or land-based market operators in the Europe and Asia Pacific regions is expected to increase the adoption of online gambling and betting solutions.

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This research report provides an in-depth analysis of the global online gambling and betting market based on game type and geography. The global online gambling and betting market is categorized based on game types into poker, casino, social gaming, lottery, bingo, sports betting and fantasy sports. The report analyzes each of these segments for the various geographies considered under the scope of the study.

Global Online Gambling and Betting Market: Geographical Assessment

Based on geographical regions, the report segments the global online gambling and betting market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America, which are analyzed in terms of revenue generation. North America is further segmented into the U.S., Canada and Rest of North America, while Europe is divided into the U.K., Malta, Gibraltar, France, Spain, Italy, Germany and Rest of Europe. Asia Pacific is subdivided into China, Japan, Australia, Philippines and Rest of Asia Pacific. Also, MEA is further segmented into South Africa, Nigeria and Rest of MEA, while South America is subdivided into Brazil and Rest of South America. The market revenue for Isle of Man is considered under the U.K. in the report.

Global Online Gambling and Betting Market: Scope of the Study

The report also provides an analysis of the factors that drive and restrain the growth of the online gambling and betting market. It discusses the prevailing market trends, prospective growth opportunities, and major strategies increasing the popularity of the global online gambling and betting market. It provides market estimates and forecasts for all the segments in terms of revenue. Also provided in the report is the market positioning of key players and competition matrix for each player. The report also provides industry evolution and Porter’s Five Forces Analysis for the global online gambling and betting market.

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Major business strategies adopted by key players, their SWOT analysis, and financial information have also been identified in the research report. The key market players profiled in this study include NetEnt AB, GVC Holdings Plc, 888 Holdings plc, Ladbrokes Coral Group Plc, Fortuna Entertainment Group, Playtech Plc, William Hill plc, Kindred Plc, Amaya Inc and Paddy Power Betfair Plc.

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Intelligent Building Management Systems Market: Overview

Intelligent building management systems (IBMS) are used to manage the technology involved in modern buildings. Building management systems are further developed with the help of Internet and related IT infrastructure to create IBMS. All the management systems installed in a building are integrated in the IBMS with help of Internet protocol (IP) network. It helps in reducing the energy consumption rate and carbon footprint for the building. Automation helps in maintaining the sound infrastructure of the buildings and comply with the rules and regulations developed by government for building security. Operating costs are reduced with the help of IBMS as all the tasks related to maintenance are performed as per the schedule without any need of inspection.

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Intelligent Building Management Systems Market: Key Drivers

Rapidly increasing construction sector is the main driver of the IBMS market. With the growing population, requirements for sound infrastructure are also rising. Also, buildings constructed nowadays are incorporating technology to improve the lifestyle of society. This rising adoption of technology in the buildings has increased the demand for IBMS. As new and innovative management solutions are being deployed in the buildings to manage technical applications. A single front-end interface is provided in the IBMS through which all the subsystems are managed.

It helps in increasing the efficiency of the whole building by reducing the errors and failures. Further, rules and regulations related to building safety has increased the demand for IBMS. All the buildings must comply with the safety standards established by the government. IBMS has different modules to deal with situations such as fire and flood. With the help of alarm systems residents are informed about the situation so that they can take evasive actions to protect themselves.

Moreover, changing customer mindset helps to boost the awareness about innovative technological solutions related to building management. Consumers are aware about the latest developments related to building safety and are demanding for it. Power-line communications provide tremendous growth opportunities for the IBMS market. It assists power-line communication technology by improving the low speed and high speed networking operations. However, lack of awareness about the IBMS and incompatibility of devices involved in the IBMS with the present systems are restraining the growth of IBMS market.

Intelligent Building Management Systems Market: Segmentation

The IBMS market is segmented on the basis of product and application. On the basis of product the IBMS market is divided into the following segments: Communication protocols, general lighting controls, security and access controls, standards and data distribution, heating ventilation and air conditioning (HVAC) controls, outdoor controls, and entertainment controls. Furthermore, the applications using IBMS include hospitality, life science, energy and infrastructure, residential and retail, educational centers, religious centers, manufacturing buildings, and office space. Moreover, on the basis of geography, the global IBMS market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa.

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Intelligent Building Management Systems Market: Key Players

Major players in the IBMS market include Singapore Technologies Electronics Limited, Allied Digital Services limited, NG Bailey Group, Schneider Electric SE, Delta Electronics, Inc., Siemsatec Ltd., Pacific Control Systems, Larsen & Toubro Limited, T-Systems International GmbH and Advanced Control Corporation.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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Smart kitchen appliances are premium appliances that are designed for comfortable and efficient operation as compared to the traditional appliances. The most significant advantage of smart kitchen appliances is the high energy efficiency over traditional kitchen appliances. Due to growing advancements in the kitchen appliances industry, the smart kitchen appliances market is expected to witness strong growth in the near future. Smart kitchen appliances are equipped with different sensors that facilitate easy operation for the users. In addition some of the smart kitchen appliances are designed with connectivity features that can connect to the other household appliances and also to handheld devices such as smartphones, tablets and others. Thus, users can operate their kitchen appliances remotely from their handheld devices thereby increasing the ease of usage of these appliances.

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The smart kitchen appliances market is majorly driven by the rising discretionary income of the people globally. Due to growing purchasing power, people tend to adopt luxurious goods thereby boosting the demand for smart appliances. Another significant factor fuelling the growth of smart kitchen appliances is the high advantages of smart kitchen appliances over traditional appliances. However, major factor hindering the market growth is the high costs of these appliances over traditional kitchen appliances.

The global market for smart kitchen appliances is segmented on the basis of products, applications and geographic regions. On the basis of products, the market for smart kitchen appliances is segmented into smart refrigerators, smart dishwashers, smart ovens, smart cookware and cooktops, smart scales and thermometers and others. The others segment comprises smart kettles and coffee makers. Further, the global smart kitchen appliances market is segment based on the applications into residential and commercial applications. Furthermore, on the basis of geographic regions the market for smart kitchen appliances is segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA) and Latin America.

This report studies the current as well as the future market potential for smart kitchen appliances across the world. The market for smart kitchen appliances has been segmented into following appliances: smart refrigerators, smart ovens, smart dishwashers, smart scales and thermometers, smart cookware and others. The others segment comprises coffee makers and kettles. The market for smart kitchen appliances has been extensively analyzed on the basis of factors such as products, applications and geographic regions. The market size and forecast in terms of revenue (US$ Mn) for each of these segments has been provided for the period from 2014 to 2022, considering 2012 and 2013 as the base years. The report also provides compounded annual growth rate (CAGR) for each segment of the market for the forecast period from 2014 to 2022.

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Geographically, the market for smart kitchen appliances has been segmented into five regions: North America, Europe, Asia Pacific, the Middle East and Africa and Latin America. The market size and forecast for each region has been provided for the period from 2012 to 2022 including the CAGR (%) for the forecast period from 2014 to 2022. The study also includes qualitative analysis of the competitive scenario in these regions. The overview section of the report comprises qualitative analysis of the overall market, highlighting the factors determining the market dynamics such as drivers, restraints, and opportunities along with distribution chain analysis.

The report also provides a section on the competitive landscape, wherein the market positioning analysis of leading players in the Global Smart Kitchen Appliances market, in 2013, has been discussed. The report concludes with the profiles of major players in the global smart kitchen appliances market such as AB Electrolux, Whirlpool Corporation, Samsung Electronics Co., Ltd., LG Electronics, Inc., Haier Group, Panasonic Corporation, Dongbu Daewoo Electronics Corporation, BSH Home Appliances Corporation (Robert Bosch GmbH) and Sub-Zero, Inc.

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Global Drugs of Abuse Testing Market: Snapshot

Drugs of abuse testing offer a variety of testing methods that can be conducted at home as well as in laboratories to detect drugs present in the human body. These drugs are tested through saliva, blood, and sweat. The testing of drugs is done for drugs that are banned by governments. Analysts anticipate that the global market will witness a considerable growth rate in the coming years due to rising prevalence of drug abuse. According to the research report, the global drugs is projected to reach US$6.4 bn by the end of 2024 as against US$4.1 bn in 2015. During the forecast years of 2016 and 2024, the global market is estimated to progress at a CAGR of 5.3%.

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Rise in Drug Abuse Ensures Swift Uptake of Testing Products

The global market for drugs of abuse testing has witnessed a prolific growth over the past few years due to the increasing abuse of illicit drugs and alcohol in various parts of the world. The harmful effects of drug abuse to the society has been the primary growth driver for the increasing uptake of drugs of abuse testing products. The market is also thriving due to emergence of testing laboratories in recent times. The growing pressure on the corporate world to ensure that the work environment is safe for their employees and devoid of illicit activities, offices across the globe are also conducting workplace screening. Analysts predict the growing number initiatives by governments across the globe along with non-profit organization to reduce the levels of drug abuse will have a positive impact on the overall market.

The global drugs of abuse testing market uses samples such as breath, saliva, sweat, urine, blood, and hair to test for presence of drugs in the human body. Of all these, the urine sample type segment accounted for a lion’s share in the global market of 43.8% in 2015. The saliva sample type segment followed next with a share of 24.2% in the overall market in 2015.

On the basis of testing type the global drugs of abuse market is segmented into criminal justice testing, pain management testing, and work place screening. As of 2015, the criminal justice testing segment held a share of 39.7% in the overall market. Amongst the end users, the forensic laboratories segment held a leading share of 42.5% in the global drugs of abuse testing market in 2015.

Stringent Government Norms across North America Boost Regional Market

In terms of geography, the global market is divided into Asia Pacific, Latin America, the Middle East and Africa, Europe, and North America. Of these North America held a mammoth share in the global market. The regional market accounted for 49.3% of the overall market due to stringent rules pertaining to the use of illicit drugs. Europe is also anticipated to show a steady growth rate in the overall market due to high incidence of abuse of prescription drugs.

The research report profiles some of the leading companies operating in the global drugs of abuse testing market and provides a thorough explanation of their financial outlook, research and development activities, and business and marketing strategies. The key players identified in the global market are Laboratory Corporation of America Holdings, Alere Inc., Roche Diagnostics, Thermo Fisher Scientific Inc., Siemens Healthcare, Drägerwerk AG & Co. KGaA, Shimadzu Corporation, and Express Diagnostics International Inc.

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About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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ReleaseID: 7969

Large power transformers connect electrical networks or systems of different voltages to allow power exchange between them. Large power transformers are used for power generation, power transmission, electro-intensive industrial applications and consumer applications. The industrial applications include mining, paper and cement mills, chemical plants, substations and power generation. Various applications of large power transformers include hydel power station, thermal power station, and nuclear power plant among others.

This market research study analyzes the large power transformer market on a global level, and provides estimates in terms of volume (Unit shipment) and revenue (USD Billion) from 2013 to 2020. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.

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The report segments the market on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World (RoW), and estimated in terms of volume (Unit shipment) and revenue (USD Billion). In addition, the report segments the market based on power rating into 100 MVA to 500 MVA large power transformers, 501 MVA to 800 MVA large power transformers and 801 MVA to 1200 MVA large power transformers. Each power rating segment has also been estimated on the basis of geography in terms of volume (Unit shipment) and revenue (USD Billion).

Asia Pacific and Rest of the World economies are expected to be the most attractive and fastest growing regions. The growth of the global large power transformers market is attributed to the increasing demand for electricity in both the mature and emerging economies of the world. Increasing industrialization and modernization is enhancing the demand for large power transformers globally. Most widely used large power transformers globally are the segment with power rating 100 MVA to 500 MVA. This segment is expected to constantly dominate the global large power transformers market during the forecast period. large power transformers between the power ratings of 801 MVA and 1200 MVA are expected to be used for HVDC and UHVDC power generation in the Asia Pacific and Middle East regions on account of rising energy demands in these regions in the near future.

The governments across the world are undertaking initiatives to modernize the existing power grids and install technologically enhanced power transformers. The initiatives adopted by the European nations for the deployment of green transformers is also providing substantial positive shift to the global large power transformers market. However, the market also encounters certain economic restraints such as the volatility of the raw material prices in the international markets.

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For better understanding of the global large power transformers market, we have given detailed analysis of the PESTLE and value chain. Moreover, a detailed Porter’s five forces analysis has been given for a better understanding of the intensity of competition present in the market. Furthermore, the study comprises of a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness. Awareness about the low carbon emission transformers is growing worldwide and offer growth opportunities in the future. Smart grids and smart networks are also enhancing the market opportunities for the large power transformers market during the forecast period.

The report provides company market share analysis of the various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies, SWOT analysis, and recent developments in the field of power transformers. Major market participants profiled in this report include ABB Ltd., Alstom SA, Crompton Greaves Ltd., Siemens AG, GE Co, Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries Co. Ltd., and TBEA Co. Ltd. among others.

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The global ophthalmic lasers market features a moderate level of competition and a largely fragmented vendor landscape with the top five vendors cumulatively accounting for a marginal 35% of the market in 2015, observes Transparency Market Research (TMR) in a new report. The high demand for effective surgical products to serve a rising global consumer base of ophthalmic conditions is expected to compel an increasing number of companies from the pharmaceutical sector to foray into the promising ophthalmic lasers market in the near future.

This could intensify the level of competition in the market, fuel development of new product varieties featuring advanced technologies, and lead the market towards maturity. Some of the leading vendors in the market presently are Ellex Medical Laser Ltd., Alcon, Quantel Group, Lumenis Ltd., and Carl Zeiss.

TMR estimates that the global ophthalmic lasers market will exhibit a healthy CAGR of 4.60% over the period between 2016 and 2024 and witness a rise from a valuation of US$0.97 bn in 2015 to US$1.44 bn by 2024.

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North America Market for Ophthalmic Lasers Anticipated to Continue to Dominate

Of the key end-use sectors that employ ophthalmic lasers, including ophthalmic clinics, ambulatory surgical centers (ASCs), and hospitals, the segment of ophthalmic clinics is presently the leading demand driver. The segment is also likely to remain the top demand driver as well as the leading revenue generator in the next few years.

From a geographical perspective, the global ophthalmic lasers market in North America is presently the dominant contributor of revenue to the global market and is expected to retain its dominant leading streak over the report’s forecast period as well; it accounted for a massive 40% of the global market in 2016. In the near future, the regional market will benefit from factors such as the presence of a large number of well-established ophthalmic laser companies, state-of-art healthcare infrastructure, and strong regulatory support to the medical devices industry.

Increased Awareness Regarding Treatment Options for Ophthalmic Conditions to Boost Growth Opportunities

One of the chief factors leading to the increased need for niche medical devices such as ophthalmic lasers is the vast rise in population of patients with a number of eye diseases across the globe. Studies show that the rate of incidence of partial and complete blindness has significantly increased over the years and could rise to twice its present volume by 2020, chiefly owing to the rise in conditions such as diabetes, glaucoma, and cataract. The rising awareness regarding the fact that timely diagnosis and effective medical intervention such as laser surgeries could avoid these conditions is a key factor augmenting the global demand for ophthalmic lasers. Rising awareness among global population regarding the effectiveness of available treatment methods could also boost adoption of ophthalmic lasers globally.

The rising population of geriatrics, a demographic more prone to ophthalmic disorders and vision defects, also provides significant scope for the development of the global ophthalmic lasers market. The market especially holds significant promise in regional markets such as Asia Pacific and Latin America with vast untapped growth opportunities and technologically maturing healthcare infrastructure.

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About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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The global phototherapy equipment market exhibits a high degree of competition. Nearly 80% of the overall market revenue in 2016 was contributed by seven players, finds Transparency Market Research (TMR) in a new study. These frontrunners are Herbert Waldmann GmBH & Co. KG, Drägerwerk AG & Co. KGaA, Phoenix Medical Systems Pvt. Ltd, GE Healthcare, Natus Medical Incorporated, Atom Medical Corporation, and The Daavlin Company.

These market players are entering into strategic collaborations with end users and offer them support in forms of equipment refurbished services, insurance reimbursement, and post-sale services, to strengthen their foothold. “These strategies are intensifying the competition prevailing in the global phototherapy equipment market, in order to sustain which key companies are focusing on pricing strategies and product upgradation with new technologies to stay ahead,” says TMR’s lead analyst. The global phototherapy equipment market was valued at US$415.0 mn in 2015 and is poised to rise to US$603.2 mn by 2024, progressing at a CAGR of 4.4% from 2016 to 2024.

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Presence of Advanced Healthcare Infrastructure to Fuel North America’s Dominance

On the basis of end user, hospital was at the forefront of growth in 2015, representing over 47.0% of the overall market revenue. The high customer preference along with the presence of favorable reimbursement policies for hospital treatments will help the segment in retaining dominance until 2024.

Geographically, North America held a dominant share of about 40.0% in the global phototherapy equipment market in 2015. The growth of the segment can be attributed to the high levels of awareness and advanced healthcare infrastructure. Asia Pacific, on the other hand, is estimated to post a tremendous CAGR during the review period, thanks to the increasing investments in the upgradation of distribution channels.

Advent of Novel Technologies to Widen Scope of Applications of Phototherapy Equipment

The growing number of cases of neonatal jaundice worldwide is escalating the demand for effective phototherapy treatments. In some cases, it can lead to severe hyperbilirubinemia, acute bilirubin encephalopathy, and chronic bilirubin encephalopathy. “It is possible to prevent hyperbilirubinemia through early diagnosis and effective phototherapy, which has an important part to play in the growth of the global phototherapy equipment market,” says a TMR analyst. Apart from this, the rising incidence of skin diseases such as eczema and psoriasis is stoking the growth the global market.

With the introduction of new and innovative technologies, the global phototherapy equipment market is anticipated to tread along a healthy growth track. The new designs available are cheaper and more advanced, which has stirred up the demand for phototherapy equipment in developing countries. Considering this, their increased use has been witnessed in alternative treatments as well. To put this in perspective, phototherapy, along with photosensitizing chemical substances, finds application in photodynamic therapy to treat cancer. Moreover, the spiraling demand for minimally invasive procedures is providing a fillip to the market.

Increasing Stringency in Regulations to Hamper Growth Prospects

The high prices of phototherapy equipment are limiting their widespread adoption, especially in developing and less developed countries. Besides this, the increasing stringency in regulations pertaining to their approval is rendering it difficult for new players to enter the arena, thus restricting the scope of expansion of the global phototherapy equipment market,

Furthermore, rapid advancements and developments in the medical science sector have paved way for various alternative modes of treatment. The growing demand for alternative treatment such as systematic and topical therapies is, therefore, keeping the market from realizing its utmost potential. Nevertheless, the increasing initiatives by key players to promote phototherapy outreach and the presence of favorable reimbursement policies in emerging countries are offering immense growth opportunities to the global phototherapy equipment market.

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The biopharmaceutical logistics market features a fairly competitive landscape characterized by moderate-to-high degree of competition among the players, observes Transparency Market Research (TMR). The competition in the market landscape is likely to remain unchanged over the forecast period from 2016 to 2024. However, the intensity of competition may subside to an extent, owing to prominent players exploring innovative logistics services pertaining to specific regions, The leading five companies held a combined a market share of 31.0% in 2015, notes TMR. These players are DHL Express, FedEx Corporation, United Parcel Service, DB Schenker, and AmerisourceBergen Corporation.

Several leading players are actively investing in constructing new logistics facilities in various emerging nations to consolidate their regional presence. Furthermore, numerous players are providing user-friendly shipping and transportation, visibility tools, and a variety of specialized e-commerce and logistics management services in order to gain a better foothold in the market. The global biopharmaceutical logistics market is expected to expand at a CAGR of 6.2% from 2016 to 2024. The market was valued at US$70.9 bn and is projected to surge to reach US$120.7 bn by the end of the forecast period.

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Sea Shipping and Road Shipping Segments to Garner Major Volume Share

Geographically, the global biopharmaceutical logistics market is led by Europe and North America. The growth of these regional markets is fueled by the large number of exports and imports of biopharmaceutical products and constant technological advancements to improve transportation services and warehousing facilities.

Based on mode of transportation, the market can be segmented into sea shipping, air shipping, rail shipping, and road shipping. Of these, air shipping is projected to dominate the biopharmaceutical logistics market, when valued in terms of revenue. However, owing to the limited volumes of transportation possible with air shipping, sea shipping and road shipping are projected to gain traction. These segments are anticipated to occupy the major volume share during the forecast period.

Tightening Regulations on Transportation of Temperature-Sensitive Pharmaceutical Products

The soaring demand for temperature-controlled logistics for the transportation of biopharmaceuticals in various regions and the need for safe transportation of these products are the key factors driving the market. A large number of biopharmaceutical companies seek the services of companies who ensure the transportation of their products in conformity with international standards. Furthermore, in-depth understanding of specific custom clearance regulations and operating procedures is imperative for hassle-free transportation of these goods. This is a crucial factor boosting the market. The growing number of global biopharmaceutical players are conducting clinical trials in emerging nations or have to go for shipments in difficult zones. This is a key factor catalyzing the growth of the biopharmaceutical logistics market.

Advanced Packaging and Refrigeration Technologies to Accentuate Market Growth

The pressing demand among biopharmaceutical and biotechnology companies to improve their supply chains and minimize temperature excursions has boosted the market. The advent of advanced packaging and refrigeration technology has led many logistics companies to ensure better transportation of goods. The adoption of these technologies enable biopharmaceutical companies to gain a better visibility of their shipments, which helps them minimize or prevent any transportation loss. The substantial production of biological drugs has also increased the transportation of biopharmaceuticals.

Compared to sea transportation, the high cost associated with the transportation of highly temperature sensitive biopharmaceuticals has dissuaded many biotech and pharmaceutical companies to avail these services. This has impeded the growth of the market to an extent. Nevertheless, the bourgeoning production of targeted therapies and drugs in the medical sector is expected to open up numerous exciting opportunities for market players. In addition, the advent of cutting-edge solutions to improve critical supply of clinical trials is also expected to boost the biopharmaceutical logistics market.

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Name: Rohit Bhisey
Organization: Transparency Market Research
Website: http://www.transparencymarketresearch.com/

ReleaseID: 7955