Medication Adherence Market Projected to Have a Stable Growth for the Next Few Years

The medication adherence market size is projected to reach $3.6 billion by 2023, growing at a CAGR of 12.3% during 2017-2023. The market is growing mainly due to the rising demand for advanced medication adherence systems, increasing prevalence of chronic diseases, rising geriatric population, increasing demand for mobile health (mHealth) technologies, and expanding demand for personalized healthcare technologies.

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The global medication adherence market in terms of product is categorized into software centric products and hardware centric products. Software centric products held the larger share in the global market, since these products are low cost and easily accessible, as compared to the hardware centric products. The hardware centric products are expected to register faster growth during the forecast period, with the CAGR likely to increase from 11.1% in the historical period to 13.1% in the forecast period.

The major players in the medication adherence market are undergoing mergers and acquisitions to improve their position in the market. For instance, in December 2016, Omnicell, Inc. announced the complete acquisition of Ateb, Inc. together with its Canadian affiliate, Ateb Canada Ltd. Ateb, Inc. is a provider of pharmacy-based patient care solutions and medication synchronization to independent and chain pharmacies. The acquisition was done to expand the product portfolio of Omnicell, Inc. with industry leading medication adherence solutions to retail pharmacies.

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Some of the other key players operating in the medication adherence market include Proteus Digital Health, Inc., AdhereTech Inc., Qualcomm Incorporated, Adherence Solutions LLC, SMRxT Inc., and DrFirst.com, Inc.

Source: P&S Intelligence

Protein Expression Market Analysis, Share, Growth Drivers and Forecast to 2023

The protein expression market is expected to reach $3.0 billion by 2023, growing at a CAGR of 11.7% between 2017-2023. Key factors driving the growth of the market include increasing prevalence of chronic diseases, rise in the availability of funding for protein-based research, technological advancements, growing aging population and increasing growth in the life science sector.

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Major players in the protein expression industry are developing products with technically advanced features that are designed to produce high protein yield, and maintain a balance of speed and scalability; thereby, enhancing its application in the drug development workflow. One of the recent advanced product launched by the major players in the market include Gibco ExpiCHO expression system, launched in 2015 by Thermo Fisher Scientific Inc., that offers an increase yield of over 100-fold, thereby enabling up to 3g/L of protein yield; in comparison to its previous CHO system. Therefore, technically advanced products will drive the growth of the protein expression market during forecast period.

The major players in the protein expression market are entering into partnerships with other firms to gain a larger share in the market. For instance, in July 2017, LabCorp, a medical laboratory tests and services provider through a national network of primary clinical laboratories and specialty testing group laboratories, and Cancer Genetics, Inc. (CGI), DNA-based cancer diagnostics and services provider, signed agreements with Thermo Fisher Scientific to join the NGS Companion Dx Center of Excellence Program (COEP). As preferred partners, each laboratory will participate in oncology-focused clinical trials in collaboration with pharmaceutical companies and Thermo Fisher. The companies may also qualify for early access to Thermo Fisher's pipeline of novel platforms and assays to assist with development of Oncomine-branded solutions for clinical and biopharma applications.

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Some of the key players operating in the protein expression market include Thermo Fisher Scientific Inc., Merck KGaA, Genscript Biotech Corporation, Agilent Technologies, Inc., Promega Corporation, Bio-Rad Laboratories, Inc., Qiagen N.V., New England Biolabs Inc., and Lonza Group Ltd.

Source: P&S Intelligence

Drug of Abuse Testing Market to Grow at a CAGR of 9.6% Between 2017-2023

As per the findings of the research, consumables held the larger share in the drug of abuse testing market in 2016, since consumable are easily available for use and provide rapid test results when compared to equipment. Rapid test kits are used at a large scale and its consumption is expected to increase at faster rate during the forecast period, since they are easy to use and provide result in a short span of time, as compared to assay kits & reagents.

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The key players in the drug of abuse testing market provide equipment such as immunoassay analyzers, chromatographic analyzers and breath analyzers. Among all the equipment, breath analyzers market size is projected to grow at the fastest rate, with a CAGR of 9.5% during the forecast period since they can detect the presence of drugs and alcohol in the breath easily in a short span of time, and are less expensive than other analyzers.

Geographically, North America has been the largest drug of abuse testing market, with the U.S. being the larger contributor to the regional market, as compared to rest of North America. The leading position of the North American market is mainly due to the increased availability of illicit drugs, rising workplace monitoring for consumption of illicit drugs and increased drug trafficking in the region. According to National Institute on Drug Abuse (NIDA), in 2013, an estimated 24.6 million Americans aged 12 years or above, constituting approximately 9.4% of the total population, had used an illicit drug, which was an increase of 8.3% from 2002. The increase was mainly due to rise in the use of marijuana, the most commonly used illicit drug.

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Some of the key players operating in the drug of abuse testing market include Danaher Corporation, Siemens AG, Merck KGaA, Drägerwerk AG & Co. KGaA, Express Diagnostics Int'l, Inc., bioMérieux S.A., Waters Corporation, Roche Holding AG, Quest Diagnostics Inc., Laboratory Corporation of America Holdings, Alere Inc., Abbott Laboratories, Randox Laboratories Ltd., Psychemedics Corporation, Bio-Rad Laboratories, Inc., Sonic Healthcare Ltd., and ThermoFisher Scientific Inc.

Source: P&S Intelligence

Medication Management Market Trends, Share, Growth Drivers and Future Analysis

The global medication management market is growing at a significant rate, due to growing demand for advanced healthcare information system, and growing investments by HIT players. In addition, the growing need for remote patient monitoring services, increasing demand of mHealth technologies, and increasing support from government organizations are also driving the growth of the global medication management market.

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Medications are involved in the treatment of medical conditions and impact every aspect of the patient's life. Medication errors are the second most common type of medical events reported in healthcare facilities. Among the various medication errors, medicine omission or overdose occurs most frequently. The reduction of all medication errors would significantly improve the patient safety and quality use of medicines.

Medication management systems enable the accomplishment of prescribing, supply and administration of medicines electronically. These systems regulate the functions of entire hospital medication procedures, including medicine prescribing by doctors, dispensing of medication by pharmacists, and administration of medicines by nurses. In addition, these systems reduce medication errors through improved prescription legibility, and appropriate dosage calculations.

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Some of the key companies operating in the global medication management market include Cerner Corporation, General Electric Company, McKesson Corporation, QUALCOMM Incorporated, Allscripts Healthcare Solutions Inc., Becton Dickinson and Company, Siemens AG, and Epic Systems Corporation.

Source: P&S Intelligence

U.S. Scar Treatment Industry Analysis, Growth Drivers and Forecast to 2023

The U.S. scar treatment market size is expected to reach $11.3 billion by 2023. The market is mainly driven by increasing number of surgeries for the improvement of physical appearance, growing prevalence of skin problems leading to scar formation, increasing expenditure on personal care, and technological advancements in dermatological products.

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The scar treatment market is categorized into post-surgical scar, acne scar, keloid and hypertrophic scar, contracture scar, and stretch mark, on the basis of type of scar. In 2017, post-surgical scar category accounted for the largest share of, 32.5%, in the U.S. market. This is attributed to the increasing number of surgeries performed for the treatment of various diseases in the country.

Based on type of treatment, the market for scar treatment in the U.S. is categorized into topical, surface, laser, injectable, and surgical. Among these, the demand for topical products is expected to exhibit the highest growth, with a CAGR of 10.8%, during the forecast period. This is mainly due to the increasing use of products such as creams, gels, and gel sheets for the reduction of different kinds of scars.

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Some of the key players operating in the U.S. scar treatment market are Revitol Corporation Inc., CCA Industries Inc., Scarguard Labs LLC, Quantum Health, Valeant Pharmaceuticals International Inc., Pacific World Corporation, Merz Pharma GmbH & Co. KGaA, and Johnson & Johnson.

Source: P&S Intelligence