Here are five insights:
1. Technological advancements and nanotechnology innovations will spur market growth.
2. The market’s cardiology segment will see substantial growth in developing economies.
3. Due to increasing cases of airborne diseases, the anti-infective segment will also see steady growth through 2024.
4. The market’s hospital segment will expand significantly due to the growing number of chronic ailments and rising awareness about disease prevention.
5. North America led the pack in 2014, with the market driven by high investments and advanced technologies. Increasing disposable incomes; outsourcing healthcare services; and a growing population will spur the Asia Pacific region’s market as well.
6. Summit, N.J.-based Celgene Corp.; Mukilteo, Wash.-based CombiMatrix Corp.; New Brunswick, N.J.-based Johnson & Johnson; Chicago-based Abbott Laboratories; and Petah Tikva, Israel-based Teva Pharmaceuticals Industries lead the space.
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