Medical Marker Bands Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029

Published on : Dec-2019 | List of Tables : 19 | List of Figures : 54 | No. of Pages : 170 | Report Code : FACT4364MR | Format :

Demand for Medical Marker Bands Soars as Cost-effective Materials Boost Sales

Inadequacy of advanced manufacturing facilities in developing regions such as Asia Pacific is increasing dependency on countries such as the U.S. and Europe for import of medical marker bands. This is significantly increasing 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 manufacturing of medical marker bands.

medical marker bands market by material

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Polymer and tantalum medical marker bands have eased the manufacturing process by reducing the need to swage or crimp metal tips to catheter shafts. Also, these bands possess the same transmittance properties as that of precious metals but with 50% less cost. Introduction of advanced materials for medical marker bands with same functionality has led to a shift from traditional to cost-effective medical marker bands and is expected to boost medical marker bands market growth during the forecast year. Both polymer and tantalum medical marker bands are witnessing higher penetration in developing regions such as MEA and Asia Pacific on the back of their affordability.

Medical Marker Bands Market Gains Traction with Rampant Use in Endovascular Surgical Procedures

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. All these factors are increasing 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 collision of instruments with vessels. This highlights the importance of medical marker bands in both catheters and stents, which helps the surgeon to efficiently track their position.

Increasing Healthcare Expenditure to Boost Sales of Medical Marker Bands

A surging global population and medical awareness has led developing economies to demand a share of global healthcare products. This is the outcome of relative financial prosperity which includes medical devices. According to the World Bank, over the past two decades, all regions excluding Sub-Saharan Africa and South Asian regions have observed an increase in the healthcare expenditure as a percentage of total output.

 As stated by the International Trade Administration, from 2016 to 2020, global medical devices sales are projected to grow by ~6%, annually. Though the Americas are anticipated to remain at the top of the world’s largest medical device market, Asia Pacific and European markets are projected to grow at a remarkable pace in the foreseeable future. This rapid development of the medical device market will create an incremental opportunity growth for catheter and stents medical device market. This is further expected to boost the medical marker bands market.

 Medical Marker Bands Demand Heightens as Cardiac Surgeries Rise

Heart diseases are the leading cause of deaths 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 caused due to heart attacks and strokes. This rising prevalence of cardiovascular diseases has led to a rise in catheter-based surgeries globally, boosting the growth of the medical marker bands market.

North America in the Forefront with Strong Government Backing and Advanced Manufacturing

Advanced manufacturing facilities and continuous support from various government agencies for development and enhancement of medical devices such as catheters and medical marker bands are favouring market growth in North America. Gold and platinum medical marker bands are extensively used in catheter-based surgeries as these are easily visible under X-ray and help surgeons track the position of catheter. However, shift from traditional materials to cost-effective materials with the same functionality is observed to be growing. This factor is expected to create huge growth opportunities for the medical marker bands market in North America.

medical marker bands market by region

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 Medical Marker Bands Market - Scope of the Report

Fact.MR recently published a market study on the global market for medical marker bands. The study provides detailed assessment on the key market dynamics, including drivers, trends, opportunities restraints, and detailed information about the medical marker bands market structure. The market study presents exclusive information about how the medical marker bands market will grow during the forecast period of 2019-2029.

Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, and compounded annual growth rate (CAGR) are explained in Fact.MR study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the medical marker bands market during the forecast period.

The study is relevant for stakeholders in the medical marker bands market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the medical marker bands market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.

The study also includes statistics as well as facts related to macro as well as microeconomic factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the medical marker bands market. Furthermore, small businesses and new entrants in the medical marker bands market too can make use of the information presented in this study, based on which, they can make appropriate business decisions to gain momentum in the market.

Key Segments of Medical Marker Bands Market

Fact.MR’s study on the medical marker bands market offers information divided into two important segments - material type and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Material Type

       Region

  • Gold
  • Platinum-Iridium
  • Platinum
  • Polymer
  • Palladium
  • Tantalum
  • Other
  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

Key Questions Answered in Fact.MR’s Medical Marker Bands Market Report

  • Which regions will continue to remain the most profitable regional markets for medical marker bands market players?
  • Which factors will induce a change in the demand for medical marker bands during the assessment period?
  • How will changing trends impact the medical marker bands market?
  • How can market players capture the low-hanging opportunities in the medical marker bands market in developed regions?
  • Which companies are leading the medical marker bands market?
  • What are the winning strategies of stakeholders in the medical marker bands market to upscale their position in this landscape?

Medical Marker Bands Market: Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the medical marker bands market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of conclusions.

Secondary resources referred to analysts during the medical marker bands market study include statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary resources and secondary resources acts as a validation from companies in the medical marker bands market, and makes Fact.MR’s projection on the growth prospects of the medical marker bands market more accurate and reliable.

Request research methodology of this report.

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Market Trends

    1.3. Analysis and Recommendations

2. Market Overview

    2.1. Market Taxonomy

    2.2. Market Definition

3. Key Market Trends

    3.1. Key Trends Impacting the Market

4. Key Success Factors

    4.1. Marker Band Key Properties

    4.2. Material Usage Analysis

    4.3. Regulatory Landscape

    4.4. Reimbursement Scenario

5. Global Medical Marker Bands Market Demand (in Value or Size in US$ Mn) Analysis 2014-2018 and Forecast, 2019-2029

    5.1. Historical Market Value (US$ Mn) Analysis, 2014-2018

    5.2. Current and Future Market Value (US$ Mn) Projections, 2019-2029

        5.2.1. Y-o-Y Growth Trend Analysis

        5.2.2. Absolute $ Opportunity Analysis

6. Market Background

    6.1. Macro-Economic Factors

        6.1.1. Global GDP Growth Outlook

        6.1.2. Global Healthcare Spending Outlook

        6.1.3. Global Medical Device Outlook

    6.2. Forecast Factors - Relevance & Impact

        6.2.1. Increase in number of catheter based procedures

        6.2.2. Advancements in Technology

        6.2.3. Rise in R&D funding 

        6.2.4. Rise in use of OEM Products 

    6.3. Market Dynamics

        6.3.1. Drivers

            6.3.1.1. Demand Side Drivers

            6.3.1.2. Supply Side Drivers

        6.3.2. Restraints

        6.3.3. Opportunity Assessment

7. Global Medical Marker Bands Market Analysis 2014-2018 and Forecast 2019-2029, by Region

    7.1. Introduction

    7.2. Historical Market Size (US$ Mn) Analysis By Region, 2014-2018

    7.3. Current Market Size (US$ Mn) Analysis and Forecast By Region, 2019-2029

        7.3.1. North America

        7.3.2. Latin America

        7.3.3. Europe

        7.3.4. Middle East and Africa (MEA)

        7.3.5. East Asia

        7.3.6. South Asia

        7.3.7. Oceania

    7.4. Market Attractiveness Analysis By Region

8. Global Medical Marker Bands Market Analysis 2014-2018 and Forecast 2019-2029, by Material Type

    8.1. Introduction / Key Findings

    8.2. Historical Market Size (US$ Mn)) Analysis By Material Type, 2014-2018

    8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Material Type, 2019-2029

        8.3.1. Platinum-Iridium

        8.3.2. Gold

        8.3.3. Platinum

        8.3.4. Polymer

        8.3.5. Tantalum

        8.3.6. Palladium

        8.3.7. Other

    8.4. Market Attractiveness Analysis By Material Type

9. North America Medical Marker Bands Market Analysis 2014-2018 and Forecast 2019-2029

    9.1. Introduction

    9.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2018

    9.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019-2029

        9.3.1.  By Country

            9.3.1.1. U.S.

            9.3.1.2. Canada

        9.3.2. By Material Type

    9.4. Market Attractiveness Analysis

        9.4.1. By Country

        9.4.2. By Material Type

    9.5. Drivers and Restraints - Impact Analysis

10. Latin America Medical Marker Bands Market Analysis 2014-2018 and Forecast 2019-2029

    10.1. Introduction

    10.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2018

    10.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019-2029

        10.3.1.  By Country

            10.3.1.1. Brazil

            10.3.1.2. Mexico

            10.3.1.3. Rest of Latin America

        10.3.2. By Material Type

    10.4. Market Attractiveness Analysis

        10.4.1. By Country

        10.4.2. By Material Type

    10.5. Drivers and Restraints - Impact Analysis

11. Europe Medical Marker Bands Market Analysis 2014-2018 and Forecast 2019-2029

    11.1. Introduction

    11.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2018

    11.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019-2029

        11.3.1.  By Country

            11.3.1.1. Germany

            11.3.1.2. Italy

            11.3.1.3. France

            11.3.1.4. U.K.

            11.3.1.5. Spain

            11.3.1.6. BENELUX

            11.3.1.7. Russia

            11.3.1.8. Rest of Europe

        11.3.2. By Material Type

    11.4. Market Attractiveness Analysis

        11.4.1. By Country

        11.4.2. By Material Type

    11.5. Drivers and Restraints - Impact Analysis

12. South Asia Medical Marker Bands Market Analysis 2014-2018 and Forecast 2019-2029

    12.1. Introduction

    12.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2018

    12.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019-2029

        12.3.1.  By Country

            12.3.1.1. India

            12.3.1.2. Thailand

            12.3.1.3. Indonesia

            12.3.1.4. Malaysia

            12.3.1.5. Rest of South Asia

        12.3.2. By Material Type

    12.4. Market Attractiveness Analysis

        12.4.1. By Country

        12.4.2. By Material Type

    12.5. Drivers and Restraints - Impact Analysis

13. East Asia Medical Marker Bands Market Analysis 2014-2018 and Forecast 2019-2029

    13.1. Introduction

    13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2018

    13.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019-2029

        13.3.1.  By Country

            13.3.1.1. China

            13.3.1.2. Japan

            13.3.1.3. South Korea

        13.3.2. By Material Type

    13.4. Market Attractiveness Analysis

        13.4.1. By Country

        13.4.2. By Material Type

    13.5. Drivers and Restraints - Impact Analysis

14. Oceania Medical Marker Bands Market Analysis 2014-2018 and Forecast 2019-2029

    14.1. Introduction

    14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2018

    14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019-2029

        14.3.1.  By Country

            14.3.1.1. Australia

            14.3.1.2. New Zealand

        14.3.2. By Material Type

    14.4. Market Attractiveness Analysis

        14.4.1. By Country

        14.4.2. By Material Type

    14.5. Drivers and Restraints - Impact Analysis

15. Middle East and Africa Medical Marker Bands Market Analysis 2014-2018 and Forecast 2019-2029

    15.1. Introduction

    15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2018

    15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019-2029

        15.3.1.  By Country

            15.3.1.1. GCC Countries

            15.3.1.2. Turkey

            15.3.1.3. Northern Africa

            15.3.1.4. South Africa

            15.3.1.5. Rest of Middle East and Africa

        15.3.2. By Material Type

    15.4. Market Attractiveness Analysis

        15.4.1. By Country

        15.4.2. By Material Type

    15.5. Drivers and Restraints - Impact Analysis

16. Emerging Countries Medical Marker Bands Market Analysis 2014-2018 and Forecast 2019-2029

    16.1. Introduction

        16.1.1. Market Value Proportion Analysis, By Key Countries

        16.1.2. Global Vs. Country Growth Comparison

    16.2. China Medical Marker Bands Market Analysis

        16.2.1. Introduction

        16.2.2. PEST Analysis

        16.2.3. Market Value Proportion Analysis by Market Taxonomy

        16.2.4. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            16.2.4.1. By Material Type

        16.2.5. China Medical Marker Bands Market - Competition Landscape

    16.3. India Medical Marker Bands Market Analysis

        16.3.1. Introduction

        16.3.2. PEST Analysis

        16.3.3. Market Value Proportion Analysis by Market Taxonomy

        16.3.4. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            16.3.4.1. By Material Type

        16.3.5. India Medical Marker Bands Market - Competition Landscape

    16.4. Brazil Medical Marker Bands Market Analysis

        16.4.1. Introduction

        16.4.2. PEST Analysis

        16.4.3. Market Value Proportion Analysis by Market Taxonomy

        16.4.4. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            16.4.4.1. By Material Type

        16.4.5. Brail Medical Marker Bands Market - Competition Landscape

17. Market Structure Analysis

    17.1. Market Share Analysis of Top Players

    17.2. Key Players – Market Positioning

    17.3. Key Players – Market Footprint

18. Competition Analysis

    18.1. Competition Dashboard

    18.2. Competition Deep Dive 

        18.2.1. Merit Medical Systems, Inc.  

            18.2.1.1. Overview

            18.2.1.2. Key Financials

            18.2.1.3. Key Developments  

            18.2.1.4. Analyst Commentary

        18.2.2. Prince & Izant Company

            18.2.2.1. Overview

            18.2.2.2. Key Financials

            18.2.2.3. Key Developments  

            18.2.2.4. Analyst Commentary

        18.2.3. Stanford Advanced Materials

            18.2.3.1. Overview

            18.2.3.2. Key Financials

            18.2.3.3. Key Developments  

            18.2.3.4. Analyst Commentary

        18.2.4. Putnam Plastics

            18.2.4.1. Overview

            18.2.4.2. Key Financials

            18.2.4.3. Key Developments  

            18.2.4.4. Analyst Commentary

        18.2.5. Biomerics

            18.2.5.1. Overview

            18.2.5.2. Key Financials

            18.2.5.3. Key Developments  

            18.2.5.4. Analyst Commentary

        18.2.6. American Elements

            18.2.6.1. Overview

            18.2.6.2. Key Financials

            18.2.6.3. Key Developments  

            18.2.6.4. Analyst Commentary

        18.2.7. RESONETICS

            18.2.7.1. Overview

            18.2.7.2. Key Financials

            18.2.7.3. Key Developments  

            18.2.7.4. Analyst Commentary

        18.2.8. Nordt Engineered Precious Metals

            18.2.8.1. Overview

            18.2.8.2. Key Financials

            18.2.8.3. Key Developments  

            18.2.8.4. Analyst Commentary

        18.2.9. Edgetech Industries LLC

            18.2.9.1. Overview

            18.2.9.2. Key Financials

            18.2.9.3. Key Developments  

            18.2.9.4. Analyst Commentary

19. Assumptions and Acronyms Used

20. Research Methodology

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Medical Marker Bands Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029