PLAZACORP WILLOWGROVE RESIDENTIAL REAL ESTATE DEVELOPMENT TRUST FILES PRELIMINARY PROSPECTUS FOR INITIAL PUBLIC OFFERING OF UNITS
TORONTO, Nov. 5, 2024 /CNW/ – Plazacorp Willowgrove Residential Real Estate Development Trust (the “REDT“) announced today that it has filed, and obtained a receipt for, a preliminary prospectus with the securities regulatory authorities in each of the provinces of Canada, other than Québec, for a proposed initial public offering of its trust units (the “Offering“).
The preliminary prospectus qualifies the distribution of a minimum of C$60 million and a maximum of C$75 million of Class A Units and/or Class F Units of the REDT at a price of C$10.00 per Class A Unit and Class F Unit.
The REDT is a newly-created, unincorporated investment trust, currently owned by Plazacorp Investments Limited (“Plazacorp“), and was established for the primary purpose of indirectly owning a majority equity interest in a project (the “Project“) to develop two residential subdivisions comprising 676 residences (467 townhomes and 209 single detached homes), and 297 serviced lots on 213 acres of land in Markham and Stouffville, Ontario.
The REDT will aim to develop the Project and, commencing on the sale of homes in the Project, declare and pay to unitholders of the REDT cash distributions out of the available cash flow.
The current owners of the Project will retain a minority ownership interest in the Project following the closing of the Offering and the acquisition of an interest in the Project by the REDT, as further specified in the preliminary prospectus. None of the current owners will receive any of the net proceeds of the Offering, which will be used to pay the costs and expenses of the Offering and to fund the development of the Project, as further specified in the preliminary prospectus.
Significant development approval and pre-development progress has been made to date, including zoning and subdivision approvals, finalization of a Master Environmental Servicing Plan in conjunction with the area municipalities, Conservation Authority and Regional government, and assembling a multidisciplinary team of local counsel, architects, planners and engineers to comprehensively design the sites. Total forecasted costs for the Project are approximately C$804.2 million.
The REDT will be managed by Plazacorp Willowgrove REDT Management Inc., an affiliate of Plazacorp, and administered by a board of trustees, a majority of whom are considered independent by the REDT. The Project will be developed by Plazacorp Upper Markham Management Limited Partnership, a limited partnership which will be controlled by Plazacorp that will earn certain fees in connection with the development of the Project and the sale of lots in the Project.
CIBC World Markets Inc. (the “Agent“) is the sole agent for the Offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the REDT in the United States, nor shall there be any sale of the securities of the REDT in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act“), and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.
A preliminary prospectus containing important information relating to these securities has been filed with securities regulatory authorities in each of the provinces of Canada, other than Québec. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus may be obtained from the Agent and is available on SEDAR+ at www.sedarplus.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
Plazacorp Willowgrove Residential Real Estate Development Trust
Plazacorp Willowgrove Residential Real Estate Development Trust was established for the primary purpose of indirectly owning an interest in a project to develop two residential subdivisions comprising 676 residences (467 townhomes and 209 single detached homes), and 297 serviced lots on 213 acres of land in Markham and Stouffville, Ontario.
Forward-Looking Statements
This news release contains statements that include forward-looking information within the meaning of Canadian securities laws. These forward-looking statements reflect the current expectations of the REDT regarding future events, including statements concerning the use of proceeds of the Offering, expectations with respect to the development of the Project, the timing of construction and completion, expected construction plans, the expected number and breakdown of units constructed and the sale of units. In some cases, forward-looking statements can be identified by terms such as “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “seek”, “aim”, “estimate”, “target”, “project”, “predict”, “forecast”, “potential”, “continue”, “likely”, “schedule”, or the negative thereof or other similar expressions concerning matters that are not historical facts.
Material factors and assumptions used by management of the REDT to develop the forward-looking information include, but are not limited to, the REDT’s current expectations about: construction and development risk; obtaining necessary development permits for the Project; the realization of property value appreciation and timing thereof; the inventory of residential properties; competition from developers of residential properties; the Markham and Stouffville, Ontario real estate markets; government legal and regulatory changes; property encumbrances relating to the Project; closing and other transaction costs in connection with the acquisition and disposition of the Project; the availability of financing and current interest rates; demographic trends; fluctuations in interest rates; litigation risks; the relative illiquidity of real property investments; the Canadian economic environment; the geographic concentration of the REDT’s business; natural disasters and severe weather; demand levels for residential properties in Markham and Stouffville, Ontario and local economic conditions; negative geopolitical events; public health crises; the capital structure of the REDT; distributions; capital depletion; potential conflicts of interest; reliance on the good faith and ability of the Project’s project manager to manage the Project; the limited operating history of the REDT; the limited experience of management of the REDT with respect to managing a reporting issuer; the limited liquidity of the Class A Units and Class F Units; and tax laws. While management of the REDT considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.
Although management believes the expectations reflected in such forward-looking statements are reasonable and represent the REDT’s internal projections, expectations and beliefs at this time, such statements involve known and unknown risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities may not be achieved. A variety of factors, many of which are beyond the REDT’s control, could cause actual results in future periods to differ materially from current expectations of estimated or anticipated events or results expressed or implied by such forward-looking statements. Such factors include the risks identified in the preliminary prospectus, including under the heading “Risk Factors” therein. Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, the REDT undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
SOURCE Plazacorp Willowgrove Residential Real Estate Development Trust
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Body Contouring Treatments Market to Hit USD 2.58 Billion by 2029 with 10.0% CAGR | MarketsandMarkets™
Delray Beach, FL, Nov. 06, 2024 (GLOBE NEWSWIRE) — The global body contouring treatments market growth forecasted to transform from USD 1.46 billion in 2024 to USD 2.58 billion by 2029, driven by a CAGR of 10.0%. from 2024 to 2029. Over the years, this body contouring treatments has evolved significantly, focusing on improved patient safety and decreased follow ups. These innovations combined with reduced downtime and rising awareness for body contouring procedures, has driven the market growth. As healthcare advances, body contouring devices contribute to enhanced outcomes with the improved safety profiles for the patients as well as operators. Use body contouring devices for wide range of applications continues to drive innovation and breakthroughs in different domains, benefiting humanity in multiple ways.
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Browse in-depth TOC on “Body Contouring Treatments Market“
237 – Tables
58 – Figures
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The body contouring treatments market is segmented based on technology into invasive and non-invasive technologies—the non-invasive segment is expected to hold major share of the market in 2023. The reduced risk of complications and rising awareness of the advantages of non-invasive procedures is driving the growth of this segment.
By application, the body contouring treatments market is segmented into non-surgical fat reduction, cellulite treatment, liposuction, abdominoplasty, and other applications. In 2023, the non-surgical fat reduction segment held a significant share of the market 2023. Minimal downtime and less risk compared to traditional surgery are driving the growth of this segment. Minimal downtime feature increases the patient convenience that leads to decreased recovery period further supporting the market growth.
By patient type, the body contouring treatments market is segmented into male patients and female patients. In 2023, the female segment held the largest share of the market 2023. Increasing desire to achieve defined body and social media influence are driving the growth of this segment. Rising number of medical spas and increasing awareness related to the benefits of these procedures further support the segment growth.
Regarding end users, the body contouring treatments market is fragmented into hospitals, aesthetic clinics and medical spas & beauty centers. The major share of the market was contributed by hospitals segment in 2023. Increasing funding opportunities and rising focus on healthcare research and by private and public entities are fuelling the market’s growth. Furthermore, increasing number of aesthetic clinics and rise funding opportunities in past few years support the growth of the end user segment.
The body contouring treatments market is segmented by region into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. In 2023, North America region accounted for the major market share, followed by Europe and Asia Pacific. The significant share of North America in this market is attributed to the strong existence of key players, rising number of obesity cases, increasing medical tourism. Factors such as increasing healthcare expenditure and growing popularity for various aesthetics treatment support the market growth in the region.
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The body contouring treatments market is competitive. As of 2023, the key players operating in the global body contouring treatments market are AbbVie Inc. (US), InMode Ltd. (Israel), Bausch Health Companies Inc. (Canada), Cynosure Lutronic (US), Sisram Medical Ltd (Israel). The top players in this market have adopted key strategies such as partnerships, acquisitions, and expansions in the last four years. In 2023, AbbVie Inc. (US), InMode Ltd. (Israel), Bausch Health Companies Inc. (Canada) held a major share of the body contouring treatments market.
AbbVie Inc. (US):
Abbvie Inc. is among the leading companies in the global body contouring treatments market. AbbVie has a direct distribution network that spans across multiple continents. The company operates in North America, Europe, the Asia Pacific, Latin America, and the Middle East through its subsidiaries. The company offers body contouring devices through other aesthetics segment. The company focuses on enhancing its product portfolio and continuous innovation and developing new products to sustain its leading position in the market.
Bausch Health Companies Inc. (Canada):
Bausch Health Companies Inc. (Bausch) is a multinational pharmaceutical and medical device company that develops, manufactures, and markets a wide range of healthcare products. The company offers medical aesthetics products including body contouring devices through its Solta Medical segment. The company has a geographical presence in more than 90 countries and regions, including the US, Canada, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. Bausch has currently operated approximately 35 manufacturing sites worldwide, of which 24 are Bausch + Lomb facilities. Bausch Health Companies Inc. has a strong brand value among body contouring device end users, strong R&D capabilities, and a robust product portfolio.
Inmode Ltd. (Israel):
Inmode Ltd. is another major player operating in the body contouring treatments market. It offers innovative aesthetic solutions and provides body contouring products under the capital equipment revenues segment. The company is committed to research & development to create and launch new tools that enhance patient outcomes. In June 2022, InMode Ltd. has collaborated with Clinisept+ to provide best skin recovery with minimal patient downtime. The company has global business offices in the US and Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, Australia & New Zealand, France, and Italy.
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About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets Inc. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445 USA : 1-888-600-6441 UK +44-800-368-9399 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com/
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American Homes 4 Rent Insider Trades Send A Signal
JACK CORRIGAN, Board Member at American Homes 4 Rent AMH, reported an insider sell on November 5, according to a new SEC filing.
What Happened: CORRIGAN’s decision to sell 100,000 shares of American Homes 4 Rent was revealed in a Form 4 filing with the U.S. Securities and Exchange Commission on Tuesday. The total value of the sale is $3,519,450.
At Wednesday morning, American Homes 4 Rent shares are up by 2.71%, trading at $36.36.
Get to Know American Homes 4 Rent Better
American Homes 4 Rent is a real estate investment trust primarily focused on acquiring, operating, and leasing single-family homes as rental properties throughout the United States. The company’s real estate portfolio is largely comprised of single-family properties in urban markets in the Southern and Midwestern regions of the U.S. American Homes 4 Rent’s land holdings also represent a sizable percentage of its total assets in terms of value. The company derives the vast majority of its income in the form of rental revenue from single-family properties through short-term or annual leases. The firm’s largest geographical markets include Dallas, Texas; Indianapolis, Indiana; Atlanta, Georgia; and Charlotte, North Carolina in terms of the number of properties in each.
American Homes 4 Rent’s Economic Impact: An Analysis
Revenue Growth: American Homes 4 Rent’s remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 5.54%. This signifies a substantial increase in the company’s top-line earnings. When compared to others in the Real Estate sector, the company excelled with a growth rate higher than the average among peers.
Navigating Financial Profits:
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Gross Margin: With a high gross margin of 54.16%, the company demonstrates effective cost control and strong profitability relative to its peers.
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Earnings per Share (EPS): American Homes 4 Rent’s EPS reflects a decline, falling below the industry average with a current EPS of 0.2.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.65.
Evaluating Valuation:
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Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 36.88, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
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Price to Sales (P/S) Ratio: With a higher-than-average P/S ratio of 7.63, American Homes 4 Rent’s stock is perceived as being overvalued in the market, particularly in relation to sales performance.
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EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): At 16.78, American Homes 4 Rent’s EV/EBITDA ratio reflects a below-par valuation compared to industry averages signalling undervaluation
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
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The Relevance of Insider Transactions
Considering insider transactions is valuable, but it’s crucial to evaluate them in conjunction with other investment factors.
Considering the legal perspective, an “insider” is defined as any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities, according to Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Pointing towards optimism, a company insider’s new purchase signals their positive anticipation for the stock to rise.
Nevertheless, insider sells may not necessarily indicate a bearish view and can be influenced by various factors.
A Deep Dive into Insider Transaction Codes
Examining transactions, investors often concentrate on those unfolding in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of American Homes 4 Rent’s Insider Trades.
Insider Buying Alert: Profit from C-Suite Moves
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Syringes Market Share, Key Drivers, Restraints, and Emerging Trends 2024 to 2033 – Exactitude Consultancy
Luton, Bedfordshire, United Kingdom, Nov. 06, 2024 (GLOBE NEWSWIRE) — The emerging markets in the Asia-Pacific region present significant growth opportunities for companies involved in the development and production of syringes. Key factors contributing to this market expansion include advancements in technology, heightened interest from global players, rapid urbanization, favourable regulatory environments facilitating the approval of new injectables, and a swift increase in the aging population.
To estimate the sizes and growth rates of the syringe market and its various subsegments, a blend of bottom-up and top-down analytical methods was employed. All percentage shares, splits, and breakdowns were determined using secondary sources and subsequently validated through primary sources. Comprehensive parameters influencing the market have been thoroughly analyzed, and both quantitative and qualitative data have been compiled. Primary interviews with industry leaders helped in assessing the market share of each product globally. The report provides insights into growth rates and market drivers for all subsegments, mapping out market sizes and growth trajectories while identifying segments likely to experience rapid growth in each geographic area.
The rise in chronic diseases and the increasing number of vaccinations that heavily rely on syringes, particularly single-use and disposable types, are key contributors to the growth of the global market. The International Diabetes Federation (IDF) Diabetes Atlas predicts that the diabetic population will rise by 46% to reach 643 million by 2030, with a significant increase expected in middle-income countries compared to developed nations. The shift toward disposable medical supplies aimed at preventing infections during hospital procedures is another crucial factor propelling market growth.
The trend of self-administered medications underscores the importance of safety when using syringes. The introduction of disposable syringes has mitigated the risk of cross-contamination by allowing users to dispose of needles immediately after use. Mölnlycke Health Care AB highlights that around 70 million surgical procedures are conducted annually in Europe, contributing to a projected rise in syringe sales in the coming years and further driving market expansion.
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Increased Use of Self-Administered Medications Driving Syringe Sales in the United States
The syringes market in the United States is anticipated to generate an absolute growth opportunity of $5.7 billion by 2033, with projections indicating a growth rate of 2.5 times during the forecast period from 2023 to 2033.
As of 2022, the U.S. held a substantial market share of 25.7%, solidifying its position as a key player in the syringes industry. The increase in syringe sales across the nation can be linked to several factors, including the rising incidence of chronic and infectious diseases, the growing adoption of self-administered medications, the availability of standardized syringes, and the presence of major syringe manufacturers. Additionally, the expansion of sectors such as the prefilled syringes industry, home healthcare market, and insulin syringe market significantly contributes to this growth.
The escalating prevalence of chronic and infectious conditions, particularly diabetes and influenza, is a primary driver behind the growth of the syringe market. According to the CDC’s National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), 6 in 10 adults in the United States live with a chronic disease. This results in substantial annual expenditures on insulin injections, flu vaccines, and other related medical treatments, further fueling the demand for syringes.
Precision at Its Best: Trends in the Syringes Industry in Germany
In 2022, Germany held a 8.2% share of the syringes market, underscoring its significant role in the industry. A prominent trend in this region is the strong emphasis on quality and precision. German manufacturers are committed to utilizing advanced manufacturing technologies and implementing stringent quality control protocols to ensure the production of top-tier syringes. Moreover, there is an increasing focus on sustainable manufacturing practices, which includes the use of eco-friendly materials and energy-efficient production processes.
Synergy of Technology and Care: Trends in the Syringes Industry in Japan
Japan represented 3.8% of the market share in 2022, affirming its importance in the global syringes landscape. The region is recognized for its technological advancements across various sectors, including healthcare. Japanese manufacturers are leading the way in creating innovative syringe designs that enhance functionality, precision, and user-friendliness. Continuous advancements in materials, such as self-lubricating plastics and biocompatible coatings, have further propelled the growth of the syringes industry in Japan.
Empowering Healthcare Delivery: Trends in the Syringes Industry in Australia
Australia accounted for 1.5% of the syringes market in 2022, highlighting its contribution to the industry. A significant trend in this region is the increasing adoption of prefilled syringes. These prefilled syringes offer numerous benefits, including a reduction in medication errors, enhanced dosage accuracy, and greater convenience for both healthcare professionals and patients. The rising demand for self-administered medications, along with the growth in chronic disease cases, is driving the acceptance and use of prefilled syringes in Australia.
Redefining Accessibility: Trends in the Syringes Industry in China
In 2022, China achieved a CAGR of 6.7%, establishing itself as a significant player in the global syringes market. The nation has experienced a notable transition towards the production of low-cost syringes that cater to both domestic and international markets. Chinese manufacturers capitalize on economies of scale and advanced production capabilities, enabling them to offer competitive pricing while maintaining high quality standards. Furthermore, there is an increasing integration of automation into the syringe manufacturing processes, resulting in enhanced production efficiency and substantial cost savings.
Innovation Meets Quality: Trends in the Syringes Industry in the United Kingdom
The United Kingdom accounted for 3.7% of the market share in 2022, affirming its significance in the global syringes industry. The region is characterized by stringent regulatory standards and a strong commitment to product quality. Manufacturers in the UK are dedicated to developing cutting-edge syringe technologies that prioritize patient safety and enhance the overall healthcare experience. The rising demand for self-administration syringes, coupled with the increasing prevalence of chronic diseases, is propelling market growth in the region. Additionally, the UK’s robust healthcare infrastructure and strategic collaborations with pharmaceutical companies provide a competitive advantage in the syringes sector.
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Rising Vaccine Consumption Boosts Demand for Disposable Syringes in India
India is poised to capture over 35% of the South Asia syringes market share during the forecast period, driven by evolving attitudes towards vaccination, a rapidly growing population, heightened health awareness, and an expanding disposable syringes industry. The syringes market in India is projected to experience a CAGR of 10.5% throughout this period, according to FMI.
As one of the fastest-growing economies globally, India boasts a substantial population of over 1.38 billion. This demographic advantage positions the country as a promising market for disposable syringes. Several factors contribute to this growth, including increasing government initiatives aimed at vaccinating every newborn, a robust presence of syringe manufacturers, and a rising awareness of the latest trends in the syringes market. These elements collectively foster an environment conducive to the expansion of the syringes industry in India.
Key Players :
- Becton
- Dickinson and Company
- Gerresheimer AG
- Braun Medical Inc.
- Schott AG
- DWK Life Sciences
- CODAN Medizinische Geräte GmbH & Co KG
- Cardinal Health Inc.
- CHEMI S.P.A.
- Terumo Corporation
- NIPRO Corporation
- Hindustan Syringes
- Medical Devices Ltd.
Recent Developments by Key Players in Syringes Market:
- Medtronic (August 2023): Medtronic announced the launch of its new auto-injector platform designed for chronic disease management. The platform incorporates user-friendly features and advanced dosing technology to improve patient adherence and comfort during self-administration of medications.
- Fresenius Kabi (June 2023): Fresenius Kabi unveiled its new line of prefilled syringes that utilize cutting-edge sterilization methods to ensure maximum safety and efficacy. The syringes are designed for a wide range of medications, including vaccines and biologics.
- Schott AG (September 2023): Schott AG has introduced a new line of glass syringes with enhanced barrier properties. These syringes are designed to protect sensitive biologics from environmental factors, improving drug stability and shelf life.
- Gerresheimer AG (July 2023): Gerresheimer AG launched a range of disposable syringes featuring an innovative safety mechanism that reduces the risk of accidental needlestick injuries. This new design aims to enhance safety for healthcare workers during medication administration.
- B. Braun (October 2023): B. Braun announced an investment in expanding its syringe production facility in Mexico to meet growing global demand. The expansion includes the implementation of advanced automation technologies to increase production efficiency and ensure high-quality manufacturing standards.
Syringes Market Segments:
This research report categorizes the market size of syringes into the following segments:
By Usability
- Sterilizable/Reusable Syringes
- Hypodermic Syringes
- Oral Syringes
- Disposable Syringes
- Conventional Syringes
- Safety Syringes
- Retractable Safety Syringes
- Non-Retractable Safety Syringes
- Prefilled Syringes
By Material
- Glass Syringes
- Plastic Syringes
By Type
- General Syringes
- Specialized Syringes
- Insulin Syringes
- Tuberculin Syringes
- Allergy Syringes
- Other Syringes
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Rheumatoid Arthritis Drugs Market Size & Share to Surpass USD 29.3 billion by 2031 | Analysis by Transparency Market Research, Inc.
Wilmington, Delaware, United States, Transparency Market Research Inc. -, Nov. 06, 2024 (GLOBE NEWSWIRE) — The rheumatoid arthritis drugs market (류마티스 관절염 치료제 시장) was valued at US$ 17.5 billion in 2022. The market is predicted to grow at a CAGR of 5.7% from 2023 to 2031, reaching US$ 29.3 billion. Rheumatoid arthritis can be treated more effectively with personalized medicine due to genomics and molecular biology advances. Treatments’ effectiveness and side effects could be improved by tailoring them according to an individual’s genetic profile and disease characteristics.
Biologics, particularly targeted therapies, are expected to continue to be developed in the coming years. Compared to traditional disease-modifying antirheumatic drugs (DMARDs), these drugs target specific immune system components involved in rheumatoid arthritis, providing better results and fewer side effects. The convenience and effectiveness of rheumatoid arthritis treatments could be improved with drug delivery innovations. Some biologics are administered orally, as sustained-release formulations, or as subcutaneous injections.
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The current research on rheumatoid arthritis will likely lead to the discovery of new therapeutic targets, which will allow drugs to be developed that modulate the disease process in order to treat it. New treatment avenues could be opened up as a result. Putting different drugs together in a combination may be the key to treating multiple symptoms of the disease simultaneously in the future. Traditional DMARDs could be combined with biologics to make them more effective.
Key Findings of the Market Report
- From 2023 to 2031, Asia Pacific is forecasted to hold the largest share of the global rheumatoid arthritis drugs market.
- Based on drug type, the nonsteroidal Anti-inflammatory Drugs (NSAIDs) segment is expected to drive demand in coming years.
- Hospital pharmacies are expected to drive sales of rheumatoid arthritis drugs in the market.
- Over-the-counter (OTC) medications and a rise in the incidence of rheumatoid arthritis are expected to drive demand for rheumatoid arthritis drugs during the forecast period.
Global Rheumatoid Arthritis Drugs Market: Key Players
As drug manufacturers strive to expand their product portfolio, most are investing in the research and development of new drugs.
- AbbVie Inc.
- Johnson & Johnson Innovative Medicine
- Amgen Inc.
- Pfizer Inc.
- Novartis AG
- Sanofi S.A.
- F. Hoffmann-La Roche Ltd.
- Merck & Co. Inc.
- Bristol-Myers Squibb Company
- Eli Lilly and Company
Global Rheumatoid Arthritis Drugs Market: Growth Drivers
- The increasing prevalence of rheumatoid arthritis globally is a major driver of the market. Chronic autoimmune diseases are becoming more prevalent, so effective treatment options are in greater demand. Developing new drugs with improved safety and effectiveness has been fueled by ongoing research in biotechnology and pharmacology. Treatment for rheumatoid arthritis has increasingly emphasized biologics and targeted therapies.
- Age-related rheumatoid arthritis is more common in aging populations, and they are expected to demand more rheumatoid arthritis drugs as their population ages. Rheumatoid arthritis is becoming more widely recognized, and early diagnosis and treatment are becoming more important, which contributes to an increase in the number of patients seeking medical treatment.
- Government initiatives and policies promote rheumatoid arthritis research and development. Clinical trials can be accelerated with the support of regulatory frameworks and funding. Pharmaceutical companies constantly introduce new formulations and delivery systems, contributing to market growth.
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Global Rheumatoid Arthritis Drugs Market: Regional Landscape
- Rheumatoid arthritis is on the rise in Asia Pacific, contributing to a growing demand for effective treatments. The prevalence of rheumatoid arthritis increases in many countries in the Asia-Pacific region as the population ages. Pharmaceutical interventions are commonly needed for the elderly population due to their susceptibility to diseases related to the immune system, such as rheumatoid arthritis.
- Some countries in the Asia-Pacific region have improved healthcare infrastructure, including the ability to diagnose and treat rheumatoid arthritis. In response to these improvements, rheumatoid arthritis drugs have seen an increase in demand. Since more people are becoming aware of rheumatoid arthritis, early diagnosis and treatment are becoming increasingly important.
- The market demand for chronic illnesses, such as rheumatoid arthritis, is positively affected by government initiatives intended to improve healthcare facilities. In Asia Pacific, biologic drugs are becoming more popular in managing rheumatoid arthritis. As a result, advanced treatments have become more in demand. Many Asia-Pacific countries have experienced economic growth, increasing healthcare spending and affordability, making medications for rheumatoid arthritis more accessible and affordable.
Global Rheumatoid Arthritis Drugs Market: Segmentation
By Drug Type
- Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
- Corticosteroids
- Disease Modifying Anti-rheumatic Drugs (DMARDs)
- Biologic Response Modifiers (Biologics)
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Marine Engines Market Size to Reach $15.2 Billion, at a 3.0% CAGR by 2029 – Report by MarketsandMarkets™
Delray Beach, FL, Nov. 06, 2024 (GLOBE NEWSWIRE) — Marine Engines Market size is projected to grow from USD 13.1 billion in 2024 to USD 15.2 billion by 2029, at a CAGR of 3.0% according to a new report by MarketsandMarkets™. Traditionally, after-sales services like maintenance and repairs have been a part of the Marine Engines Market. However, companies are finding ways to optimize this segment to generate recurring revenue.
Advanced sensor technology allows for real-time engine performance monitoring. Engine manufacturers can leverage this data to offer remote diagnostics and predictive maintenance services. This proactive approach minimizes downtime for ship operators and ensures optimal engine health throughout its lifecycle. Subscription-based services for remote monitoring and diagnostics can be a lucrative revenue stream. Spare parts are a crucial aspect of after-sales service. Manufacturers can create user-friendly digital parts catalogs that allow ship operators to easily identify and order necessary parts online. This streamlines the procurement process and improves efficiency for both parties. Technological advancements are leading to the development of sophisticated engine control and optimization systems. These systems go beyond basic engine control to optimize fuel consumption, reduce emissions, and improve overall engine performance.
Browse in-depth TOC on “Marine Engines Market”
324 – Tables
68 – Figures
334 – Pages
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Scope of the Report
| Report Metric | Details |
| Marine Engines Market Size Values |
|
| Base Year | 2023 |
| Forecast Period | 2024–2029 |
| Forecast Unit | Value (USD Billion) |
| Segments Covered | By Engine, By Type, By Power Range, By Fuel, By Vessel |
| Geographic Regions Covered | Asia Pacific, North America, Europe, Middle East and Africa, and South America |
| Companies Covered | Caterpillar (US), Wärtsilä (Finland), Man Energy Solutions (Germany), AB Volvo Penta (Sweden), HDHyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Heavy Industries, Ltd. (Japan), Cummins Inc. (US), Daihatsu Diesel Mfg. Co., Ltd. (Japan), and Deutz AG (Germany) |
Manufacturers can offer these systems as add-ons to existing engines or integrated into new models. This presents an opportunity to capture additional revenue and cater to the growing demand for efficient and sustainable marine transportation. As environmental regulations tighten and the focus on sustainability intensifies, the demand for cleaner-burning marine engines is rising. Manufacturers can develop conversion kits that allow existing engines to operate on cleaner alternative fuels like LNG or biofuels. This caters to ship operators who want to upgrade their existing fleets to comply with regulations or reduce their environmental impact. Engines capable of seamlessly switching between conventional fuels and cleaner alternatives like LNG offer operational flexibility for ship owners. Developing and offering such engines opens a new revenue stream while addressing the evolving needs of the shipping industry.
By capitalizing on these emerging revenue pockets, marine engine manufacturers can ensure diversified income streams and navigate the dynamic landscape of the maritime transportation sector.
Heavy Fuel Oil (HFO) continues to hold the third-largest market share in the Marine Engines Market. HFO remains the most economical fuel option for marine engines. Its lower price point compared to cleaner alternatives like Liquefied Natural Gas (LNG) translates into significant cost savings for ship operators, especially for large vessels undertaking long voyages. This economic advantage is particularly crucial for bulk carriers and tankers transporting commodities over vast distances. Existing Infrastructure: A well-established global network of refineries and bunkering facilities readily supplies HFO at major ports worldwide. This extensive infrastructure makes it readily available for refueling ships, unlike LNG which requires specialized bunkering facilities that are still under development in many regions. This widespread availability minimizes logistical challenges and ensures smooth operations for ship operators. Installed Engine Base: The global marine fleet consists of a vast number of existing vessels equipped with engines specifically designed to burn HFO. Retrofitting these engines to operate on cleaner fuels can be a complex and expensive undertaking. Therefore, for many ship owners, continuing with HFO remains a viable option until the end of these engines’ lifespans.
General cargo ships hold the third-largest market share in the Marine Engines Market due to a unique combination of factors influencing their engine requirements. General cargo ships, unlike tankers or container ships designed for specific cargo types, carry a wide variety of goods in containers, break bulk, or project cargo. This versatility translates to a need for engines that offer a balance between power, efficiency, and operational flexibility. General cargo ships typically operate on regional or interregional routes, often with frequent port calls. Compared to massive container ships that prioritize long-distance speed, general cargo vessels don’t require the most powerful engines. However, they still need sufficient power for efficient maneuvering in harbors and navigating diverse weather conditions across their routes. Market Growth and Fleet Size: The general cargo shipping segment represents a significant portion of the global maritime transportation industry. This translates to a large and continuously growing fleet of general cargo ships, creating a steady demand for new engines. Additionally, the replacement market for existing engines in this segment further contributes to the substantial market share. Engine manufacturers cater to this market by offering a range of medium-power, fuel-efficient engines with adaptability for future clean fuel options.
The 1,001-5,000 horsepower (hp) segment reigns supreme as the second-largest market share holder in the Marine Engines Market for a confluence of reasons. This power range caters to a broad spectrum of vessels, encompassing large fishing vessels, offshore service vessels, ferries, and passenger ships. Optimal Balance of Power and Efficiency: Compared to the immense powerhouses required for giant container ships or tankers, the 1,001-5,000 hp range offers a sweet spot between power output and fuel consumption. This is crucial for vessels that undertake frequent stops and maneuvers or operate on shorter routes where fuel efficiency becomes a significant operational cost factor. The sheer number of vessels within this power range category contributes significantly to its market share. These include a vast array of fishing vessels, a growing number of offshore service ships supporting the wind energy industry, and numerous ferries and coastal cargo ships operating worldwide. The ongoing need for new engines in these segments, coupled with engine replacements in existing vessels, fuels the market’s growth. The 1,001-5,000 hp segment thrives due to its versatility across various vessel types, the optimal balance it offers between power and fuel efficiency, a large and growing fleet requiring these engines, and advancements in cleaner technologies that cater to both environmental concerns and operational needs.
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North America occupies the fourth position in the global Marine Engines Market share, despite boasting a well-developed maritime industry. Compared to some regions heavily reliant on maritime trade, North America has a well-established network of inland waterways for freight transportation. This translates to a larger focus on barges and tugboats, which typically require smaller, less powerful engines compared to ocean-going vessels. A significant portion of the North American maritime fleet, particularly in sectors like dry bulk cargo, consists of older vessels. While offering opportunities for engine replacement within the existing market, these vessels often utilize older, less powerful engines, impacting the overall market share for high-horsepower engines typically used in newer ships. North America enforces some of the strictest environmental regulations for marine emissions. This can create uncertainty for ship operators hesitant to invest in new, compliant engines due to potential future changes in regulations or fuel options. This hesitancy can dampen the demand for new, high-power engines. North America’s fourth position in the Marine Engines Market share stems from a combination of factors, including its established inland waterway system, an aging fleet dynamic, stringent environmental regulations, and the rise of Asian shipyards. However, opportunities exist for future growth through fleet modernization, infrastructure development for cleaner fuels, and continued innovation within niche segments.
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Key Market Players
Key players in the global Marine Engines Market include Caterpillar (US), Wärtsilä (Finland), Man Energy Solutions (Germany), Rolls-Royce Plc (UK), AB Volvo Penta (Sweden), HDHyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Heavy Industries, Ltd. (Japan), Cummins Inc. (US), Daihatsu Diesel Mfg. Co., Ltd. (Japan), and Deutz AG (Germany).
Recent Developments
- In February 2024, Caterpillar and Solstad Offshore ASA (Solstad) and Cat® dealer Pon Power AS comes into partnership where Caterpillar Marine is committed to helping vessel owners increase fuel efficiency and reduce GHG emissions and offer pathways to support these operational and sustainability targets by providing a range of solutions for alternative fuels and powertrain integration.
- In December 2023, MAN Energy Solutions has announced an agreement with Alfa Laval, the Swedish industrial concern, to develop a methanol fuel-supply solution for MAN four-stroke engines and its fuel-injection technology. As a result, the first four-stroke engine types will be capable of retrofit to methanol operation from 2025.
- In August 2022, Leisure, and Volvo Penta joined forces to develop near-silent, eco-friendly boats. Leiser’s sleek designs paired with Volvo’s hybrid electric technology aim to reduce emission. This collaboration pushes boundaries in sustainable boating, offering a glimpse into the future of the industry.
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Trump's Historic Return: 7 Ways His Second Term Could Impact The US Economy
Donald Trump has won in the 2024 U.S. presidential election, making him the 47th president and the first to secure a non-consecutive second term since Grover Cleveland in the late 1800s.
The Republican Party also regained control of the Senate and holds a lead in the House of Representatives, with 198 seats to the Democrats’ 180 as of early Wednesday morning.
Trump’s victory paves the way for a significant shift in U.S. economic policy, highlighting the stark contrast between his and Kamala Harris’s proposed approaches during the campaign. Trump’s policy direction includes ambitious tax cuts, higher trade tariffs, and potential rollbacks in climate initiatives, which could have significant economic implications for everything from inflation to the national debt.
Here’s a breakdown of the seven key economic areas affected by the election outcome — and what was at stake had the results gone the other way.
1) Taxes
Tax policy was a major dividing line in the 2024 election.
Trump campaigned on a promise to extend and expand his 2017 Tax Cuts and Jobs Act (TCJA), with additional reductions for corporations and the restoration of the state and local tax (SALT) deduction. Trump also proposed exempting some forms of income from taxation and repealing green energy tax credits, aiming to attract more business investment and spur economic growth.
“Trump’s plan to lower corporate taxes is likely to give a boost to the economy at the expense of a greater budget
deficit. The U.S. economy certainly doesn’t seem to need it at this point, and there’s a risk of overheating,” said ABN Amro senior economist Rogier Quaedvlieg.
By contrast, Harris supported tax increases targeting corporations and high-income households.
Harris’s proposals included raising the corporate tax rate from 21% to 28% and increasing the top individual income tax rate to 39.6% on income above $400,000 for single filers and $450,000 for joint filers.
Harris also advocated taxing long-term capital gains and qualified dividends at 28% for incomes above $1 million and introducing a tax on unrealized capital gains at death above a $5 million threshold.
According to the Tax Foundation, Harris’s tax plan could raise approximately $4.1 trillion in revenue over the next decade but could reduce long-term GDP by 2% and cost the economy about 786,000 full-time equivalent jobs.
2) Trade Policy
The two candidates presented vastly different visions for trade.
Trump campaigned on a promise to impose a 60% tariff on Chinese goods and a universal 10% tariff on all imports. His rationale was to protect American manufacturing and reduce reliance on foreign imports, especially from China.
However, economists have warned that such aggressive tariffs could raise consumer prices and provoke retaliatory tariffs from U.S. trade partners.
“A full-scale implementation of Trump’s tariffs will increase inflation and put the U.S. in a recession,” Quaedvlieg said.
Erica York, senior economist at the Tax Foundation, highlighted that “tariffs are a particularly distortive way to raise revenue, especially as they invite foreign retaliation.”
“Trade policy is the main channel by which the U.S. election could generate a global common shock,” wrote JPMorgan in a recent report.
In contrast, Harris supported a more moderate approach, which would involve targeted tariffs on specific industries to protect U.S. strategic interests, similar to the policies followed under the Biden administration.
Harris’s plan focused on preserving trade relations with key U.S. allies while using tariffs selectively to support American industries. Analysts expected this approach to mitigate inflationary pressures and maintain a more stable global trade environment.
3) National Debt
The election outcome also set the tone for U.S. fiscal policy, particularly around the national debt.
Trump’s fiscal plans, which include extending tax cuts and potentially increasing defense and infrastructure spending, are projected to add significantly to the national debt burden.
According to estimates by the Committee for a Responsible Federal Budget (CRFB), Trump’s proposals would increase the federal deficit by around $7.75 trillion in a baseline scenario between 2026 and 2035, pushing the debt-to-GDP ratio from its current level of 102% to 143%, which is 18% of GDP above current law projections.
In a high-deficit scenario, the deficit could rise to $15.55 trillion, pushing the debt-to-GDP ratio to 157%.
Compared to Trump, Harris’s fiscal plans took a more restrained approach to debt. In a baseline scenario, their proposals would have added $3.95 trillion to the national debt. This would increase the debt-to-GDP ratio to about 134% by 2035, a lower increase than Trump’s plan.
In a high-deficit scenario, Kamala Harris would raise the deficit by $8.3 trillion over the same period, bringing the debt-to-GDP ratio to 144%.
“Fiscal policy is likely to be tighter under divided government than under single-party control,” highlighted Goldman Sachs analyst Alex Phillips, suggesting that the elected president’s plan could face more checks and balances restricting high-deficit policies.
Read Also: Trump Vs. Harris: How Their Fiscal Plans Could Add Trillions To The US National Debt
4) Inflation
Inflation was a central issue in the election, with economists projecting starkly different impacts from Trump’s and Harris’s policies.
Analysts broadly agreed that Trump’s proposed tariffs — especially a 60% levy on Chinese imports and a 10% universal tariff — could drive up consumer prices in the U.S.
Gita Gopinath, deputy managing director of the International Monetary Fund, stated in October that “tariffs are inflationary.”
JPMorgan analysts estimate that such measures could increase inflation by as much as 2.4% in a worst-case scenario. ABN Amro also warned that Trump’s tariff-driven trade policy could push inflation up by 1.7 percentage points.
Goldman Sachs chief economist Jan Hatzius projected a “sizable 1.1pp boost to U.S. inflation” under Trump’s policies.
By comparison, Harris’s strategy of targeted tariffs on specific industries was intended to avoid widespread inflationary pressure, maintaining a more balanced approach to trade that would limit price increases for consumers.
Economists saw Harris’s approach as less disruptive to the broader supply chain.
5) Interest Rates & Fed Independence
The election result will also shape the Federal Reserve’s role in monetary policy.
“The resurgence of inflation would force the Fed to raise rates again, or at least keep rates higher for longer,” said Quaedvlieg.
Goldman Sachs’ chief economist Hatzius suggested that Trump’s policies could keep core inflation above 3% in 2025, rather than closer to the Fed’s 2% target. This, Hatzius highlighted, “might well be a reason to delay cuts that might otherwise occur more quickly.”
Regarding the central bank independence role, Trump has a history of pressuring the Fed for lower interest rates, even suggesting negative rates at one point during his previous term.
Analysts at the Brookings Institution expected that Trump’s presidency could put the Fed under renewed pressure to align with his economic agenda.
Harris, in contrast, emphasized respect for the Fed’s independence. “The Fed is an independent entity and as president, I would never interfere in the decisions that the Fed makes,” Harris said during the campaign.
Economists indicated that Harris’s stance would allow the Fed to focus on managing inflation and employment without political interference, potentially leading to a more stable and predictable monetary policy.
6) US Dollar
The U.S. dollar is expected to strengthen under a Trump presidency, as higher inflationary pressures could prompt the Federal Reserve to adopt a more restrictive monetary policy stance.
A recent JPMorgan report suggests that a Republican sweep could boost the greenback by up to 7.3% within the first two quarters, while a Harris presidency with a divided Congress might lead to a decline of more than 5% in the dollar’s trade-weighted index (TWI), as tracked by the Invesco DB USD Index Bullish Fund ETF UUP.
The table below provides JPMorgan’s projections for currency movements over the next one to two quarters based on different 2024 election outcomes.
| Election Scenario | USD TWI Change | USD vs. CNY | USD vs. EUR | USD vs. CAD | USD vs. CAD | USD vs. AUD | USD vs. SEK |
|---|---|---|---|---|---|---|---|
| Republican Sweep | +7.3% | +4.4% | +8.4% | +4.7% | +6.1% | +7.9% | +10.8% |
| Trump w/ Split Congress | +3.3% | +3.0% | +4.3% | +3.3% | -5.4% | +4.6% | +5.0% |
| Harris w/ Split Congress | -5.4% | -2.7% | -3.9% | -4.0% | -4.0% | -2.9% | -5.6% |
| Democratic Sweep | -3.9% | -2.0% | -3.1% | -2.5% | -0.7% | -1.4% | -4.6% |
7) Foreign policy
The election outcome also has sharp implications for foreign policy, particularly around climate, energy sanctions and defense spending.
Trump pledged to withdraw from the Paris Agreement and scale back climate commitments made under the Inflation Reduction Act (IRA).
ABN Amro analysts warn that these rollbacks could harm long-term sustainability goals and impede the transition to a green economy.
Harris, in contrast, pledged to uphold the U.S.’s climate commitments, supporting the Paris Agreement and clean energy goals set by the IRA.
According to S&P Global, Trump also suggested he may relax sanctions on Russia to boost oil supply, while keeping a hard line on Iran and Venezuela.
Harris committed to maintaining sanctions on Russia, Iran, and Venezuela, aligning with the current administration’s stance on energy security.
In defense, Trump emphasized shifting more responsibility to European allies.
“A second Trump term would likely entail renewed defense and security pressures for Europe. Trump has stressed that he expects European countries to spend at least 2% of GDP on defense, as required by NATO members,” wrote Goldman Sachs economist James Moberly.
Trump even proposed ending U.S. military aid to Ukraine, effectively transferring that burden to Europe.
In contrast, Harris indicated continued support for Ukraine and a collaborative approach with NATO allies, without reducing U.S. military commitments.
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Biopsy Devices Market Opportunities, Sales, Analysis and Forecast to 2033 – Exactitude Consultancy
Luton, Bedfordshire, United Kingdom, Nov. 06, 2024 (GLOBE NEWSWIRE) — Biopsy device technologies have significantly advanced over time, with a strong emphasis on increasing accuracy, reducing patient discomfort, and improving diagnostic results. These improvements, coupled with the rising rates of cancer and the demand for early detection, have contributed to the growing significance of biopsy devices in the healthcare industry. As medical care evolves, these devices remain central to both diagnostic and therapeutic treatments, enhancing patient outcomes and supporting the progression of medical knowledge. The integration of imaging systems in biopsy devices continues to drive innovation and progress across various fields, ultimately benefiting healthcare systems and patients globally.
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Driver: Increasing Cancer Prevalence
The global incidence of cancer has been steadily rising, with projections indicating that the number of cancer cases will increase from approximately 19.7 million in 2020 to 28.0 million by 2040, based on GLOBOCAN estimates. Cancer continues to be the second leading cause of death worldwide, contributing to nearly 25% of all deaths in the United States. In 2017, the American Cancer Society predicted around 1.7 million new cancer cases and approximately 600,000 cancer-related deaths in the U.S., which averages about 1,650 deaths per day.
While cancer incidence is higher in more-developed regions, mortality rates are often higher in less-developed countries due to limited healthcare access and lower awareness of early detection methods. According to GLOBOCAN 2020, 56.8% of all new cancer cases and 10 million cancer-related deaths occurred in these countries. By 2025, this trend is expected to worsen, particularly in China and India, which have some of the highest mortality ratios.
The increasing cancer burden will drive a growing demand for biopsy procedures, essential for diagnosing both malignant and benign cancers. In 2022, nearly 47.5% of cancer cases were found in the elderly population, and this figure is projected to rise to 54.6% by 2030. With more than 703 million people aged 65 and above (9.1% of the world’s population), the aging global population will significantly influence the demand for cancer control measures. Projections suggest that cancer incidence among those aged 85 and older could increase fourfold by 2050, further driving the need for biopsies and cancer diagnostics.
Restraint: Risk of Infections
Biopsy procedures, crucial for detecting abnormalities in specific areas, carry an inherent risk of infection due to the incisions and cuts involved in tissue sampling. A 2014 study published in The Journal of Urology raised concerns about post-biopsy infections, especially in prostate biopsies. In Sweden, the rate of urinary tract infections (UTIs) increased from around 2% immediately following the biopsy to 6% after 30 days, with 1% of patients requiring hospitalization. The growing risk of infections after biopsy procedures presents a significant challenge, which may hinder market growth as healthcare providers strive to reduce these risks and enhance patient safety.
Opportunity: Technological Advancements
Ongoing advancements in biopsy device technology, including improved imaging capabilities, robotic assistance, and precision-guided tools, are driving new opportunities for more accurate and minimally invasive procedures. Modern imaging techniques such as ultrasound, magnetic resonance imaging (MRI), and computed tomography (CT) scans are now essential in guiding biopsy procedures, ensuring better precision and minimizing complications. For example, real-time ultrasound imaging allows healthcare providers to precisely target and collect tissue samples with reduced risk.
- Medtronic has launched the StealthStation iO navigation system, an advanced image-guided surgical platform that integrates artificial intelligence (AI) to enhance the precision and effectiveness of biopsy and other surgical procedures.
- Hologic, a prominent provider of women’s health solutions, introduced the Affirm Breast Biopsy System in September 2022. This system utilizes 3D tomosynthesis for accurate needle placement, featuring an intelligent needle guide that retracts automatically after tissue acquisition, minimizing patient discomfort and procedural complications.
Furthermore, the growing development of liquid biopsy technologies, which enable the detection of cancer biomarkers in blood and other bodily fluids, is a major breakthrough in non-invasive diagnostics. Companies like TrovaGene are working on liquid biopsy tests for early colorectal cancer detection, while Natera is advancing a test for ovarian cancer. These innovations have the potential to improve diagnostic accuracy, safety, and efficiency, paving the way for further growth in the biopsy industry.
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Challenge: Underdeveloped Healthcare Infrastructure and Lack of Resources in Developing Countries
As awareness of cancer types increases, the demand for biopsy procedures in developing countries is projected to grow. However, the lack of healthcare resources and inadequate infrastructure present significant challenges to the accessibility and effectiveness of these procedures. This issue is particularly evident in the higher mortality rates for breast cancer in low- and middle-income countries, where the absence of early detection programs contributes to delayed diagnoses.
The incidence of cervical cancer is also rising, yet screening coverage remains alarmingly low in many developing regions. For instance, in Sub-Saharan Africa, only 5% of women at risk undergo cancer screenings. In India, despite established screening guidelines based on visual inspection, the coverage remains insufficient. Various factors, including a shortage of trained healthcare professionals, limited laboratory resources, poor access to healthcare facilities, and cultural barriers, hinder the progress of cancer diagnosis in these regions. These obstacles present a significant challenge to the growth of the global biopsy market.
By Product: The needle-based biopsy instruments segment led the biopsy devices market in 2022, holding the largest market share. Needle-based biopsies are minimally invasive, offering quick procedures with relatively low discomfort for patients, which makes them an attractive option for both healthcare providers and patients. The rising cancer incidence and the need for early diagnosis have driven the demand for tissue sampling, especially for lesions that are hard to reach using traditional methods.
By Application: The breast biopsy application segment is expected to experience significant growth in the near future. As the number of cancer cases increases, breast biopsies are increasingly used for diagnostic purposes. This trend is contributing to the growth of the biopsy devices market in this segment.
By End User: The hospitals and breast care centers segment accounted for the largest market share in 2022. However, the diagnostic imaging centers segment is projected to grow at the highest compound annual growth rate (CAGR) during the forecast period, driven by increasing demand for precise and early-stage diagnostics.
By Region: North America is expected to remain the largest market for biopsy devices during the forecast period. This growth is fueled by the region’s technological advancements, robust healthcare infrastructure, a high prevalence of chronic diseases, and an aging population. Additionally, North America’s ample financial resources for advanced medical equipment, well-established regulatory frameworks, and active research collaboration are contributing to its dominance. The region’s insurance coverage for diagnostic procedures and its competitive market environment further foster the adoption of biopsy technologies.
Key Players
- ardinal Health Inc.
- Hologic, Inc.
- Danaher Corporation
- CONMED Corporation
- Cook Medical
- DTR Medical
- INRAD, Inc.
- Devicor Medical Products Inc.
- Gallini Srl
- TransMed7, LLC.
Recent Developments of Biopsy Devices Market
- March 2024: Medtronic announced the launch of the Fusion Biopsy System, a robotic-assisted platform for enhanced precision in prostate biopsies. This new system integrates advanced imaging and AI to improve diagnosis accuracy and patient outcomes.
- February 2024: Hologic introduced its new Selenia Dimensions 3D Mammography System, designed to improve breast cancer detection with advanced biopsy technology. The system’s enhanced imaging and biopsy capabilities offer improved tissue sampling for more accurate diagnostics.
- January 2024: Boston Scientific received FDA clearance for its new Exalt Model D Single-Use Biopsy Forceps, offering improved tissue sample collection in gastrointestinal procedures. The forceps provide enhanced precision and patient safety with a single-use design.
- November 2023: Cook Medical expanded its range of biopsy needles with the launch of the BiopsyPro Plus Needle. This device features a new ergonomic design, ensuring greater control and comfort during biopsies of soft tissues in various clinical applications.
- October 2023: Abbott Laboratories launched a next-generation core needle biopsy device aimed at improving the speed and accuracy of tissue sampling in breast cancer diagnosis. This device integrates advanced imaging guidance to reduce procedure time and enhance patient comfort.
Market Segmentations
By Product
- Needle Based Biopsy Instruments
- Liquid Biopsy Instruments
- Localization Wire
- Biopsy Forceps
- Procedure Tray
- Biopsy Table
- Other Biopsy Products
By Guidance Technique
- Image Guided Biopsy
- Ultrasound Guided Biopsy
- Stereotactic Guided Biopsy
- MRI Guided Biopsy
- Other Biopsy
- Non-Image Guided Biopsy
- Liquid Biopsy
- General Biopsy
By Application
- Breast Cancer
- Lung Cancer
- Kidney Cancer
- Prostate Cancer
- Bone Marrow Biopsy
- Other Applications
By End User
- Hospitals and Breast Care Centers
- Diagnostic Imaging Centers
- Research and Academic Institutes
- Other End Users
By Region
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
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