Fact.MR – A Market research and competitive intelligence provider: The global medical marker bands market will experience a major upsurge, reaching a growth of market valuation~ US$ 28 Mn by 2029.
The Global Medical Marker Bands Market Will Experience A Major Upsurge, Reaching A Growth Of over US$ 28 Mn By 2029.
The Fact.MR market study on the medical marker bands market provides deep dive into key developments in the medical marker bands market. The report offers a comprehensive analysis of leading segments in terms of material type, and region.
Fact.MR – A Market research and competitive intelligence provider: The global medical marker bands market will experience a major upsurge, reaching a growth of market valuation~ US$ 28 Mn by 2029. Inadequacy of advanced manufacturing facilities in developing regions such as the Asia Pacific is increasing dependency on countries such as the U.S. and Europe for import of medical marker bands. This is crucially raising the cost of these bands in these regions. The cost of traditional materials such as gold, platinum, palladium, and platinum-iridium is relatively high.
Several manufacturers such as Putnam Plastics Corp., manufacturers of polymer medical marker bands, and Stanford Advanced Materials, manufacturers of tantalum medical marker bands are using these cost-effective materials for the manufacturing of medical marker bands.
All these factors are rising the adoption rate of minimally invasive and catheter-based approaches across various end-users. Tracking a catheter in a complex endovascular procedure is very important to avoid the collision of instruments with vessels.
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Heart diseases are the leading cause of death among both men and women, globally. According to the World Health Organization, cardiovascular diseases cause 17.9 Mn deaths each year, which is around 31% globally.
Approximately, 75% of cardiovascular deaths occur in low- and middle-income countries, out of which, 85% of all cardiovascular deaths are brought about due to heart attacks and strokes.
This increasing prevalence of cardiovascular diseases has led to a rise in catheter-based surgeries globally, improving the growth of the medical marker bands market.
Key takeaways:
- Growth of the medical marker bands market is expected to grow 1.7X during the forecast year owing to an increased usage of medical marker bands in cardiovascular intervention procedures.
- High visibility under x-ray is anticipated to be the promising factor for increased use of medical marker bands in critical medical procedures
- Feasibility of tracking catheter position in a complex endovascular procedure to avoid instrument and vessel collision is improving the demand for medical marker bands
Growth Drivers:
- The rising prevalence of cardiovascular diseases has led to an increase in catheter-based surgeries globally, improving the growth of the medical marker bands market.
- Demand for catheter-based and minimally invasive heart surgeries is growing owing to reduced morbidity, lesser recovery time, and improved clinical outcome when compared to traditional methods such as open-heart surgery which increase the improvement in the growth of the medical marker bands market.
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Competitive Landscape:
The competitive landscape of the medical marker bands market focuses on the properties of medical marker bands that increase their visibility under fluoroscopes or x-ray during critical procedures is giving an uptick to their sales worldwide.
- The medical marker bands market is fragmented. Tier 1 players functioning in the medical marker bands market include Merit Medical Systems, Inc., and Putnam Plastics. Both companies have a high market share owing to their brand recognition and global reach.
- Dearth of advanced manufacturing facilities coupled with a large aging workforce and skills gap in countries such as India and China are encouraging export of medical marker bands from other countries such as the U.S., Germany, the U.K., etc. To overcome these issues, key players are focusing on increasing their reach through acquisitions and mergers. For instance:
- In August 2019, Biomerics merged with Northeast Laser & Electropolish, a contract manufacturer providing services to a wide range of medical device manufacturers
Key Companies Profiled by Fact.MR
- Prince & Izant Company
- Merit Medical Systems, Inc.
- Putnam Plastics Corp.
- Edgetech Industries LLC
More valuable insights on the medical marker bands Market:
Fact.MR, in its report, offers a market analysis of the global medical marker bands market the forecast period through 2016 and beyond. This survey reveals the growth of health area in the medical marker bands market with detailed segmentation as follows
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Key Questions covered in the Medical Marker Bands Market Report
- The report offers insight into medical marker bands market demand outlook for 2019-2029
- The market study also highlights projected sales growth for the medical marker bands market between 2019 and 2029
- Medical marker bands market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Medical marker bands market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint
ventures, collaborations or partnerships, and others
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