Industry Background:
Indocyanine green (ICG), cyanine dye that is used in medical diagnostics. It is used to determine cardiac output, hepatic function, liver and gastric blood flow, and for ophthalmic angiography. ICG has a top spectral absorption at about 800 nm. These IR frequencies penetrate retinal layers, permitting ICG angiography to image deeper patterns of circulation compared to fluorescein angiography. ICG fixes tightly to plasma proteins and becomes narrowed to the vascular system. It has a half-life of 150 to 180 seconds & is detached from circulation exclusively by the liver to bile juice. The increasing use in medical diagnostics is likely to impel the ICG market growth.This growth is primarily driven by Increasing usage in medical diagnostics and Growing number of patients undergoing ophthalmic angiography.
Globally, a noticeable market trend is evident Consumer Increasing Health Care Spending. Major Vendors, such as Akorn, Incorporated (United States), Aurolab (India), SERB (Belgium), Diagnostic Green GmbH (Germany), Daiichi Sankyo Company, Limited (Japan), Sigma-Aldrich Corporation (United States), Iris Biotech GmbH (Germany) and Pulsion Medical Systems (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Regulatory Insights:
“In United States, The Food and Drug Administration (FDA) regulates indocyanine green. FDA has determined that IC-GREEN (indocyanine green for injection), 10 milligrams (mg)/vial, 40 mg/vial, and 50 mg/vial, was not withdrawn from sale for reasons of safety or effectiveness. This determination will allow FDA to approve abbreviated new drug applications (ANDAs) for indocyanine green for injection, 10 mg/vial, 40 mg/vial, and 50 mg/vial if all other legal and regulatory requirements are met.”
Market Drivers
- Increasing usage in medical diagnostics
- Growing number of patients undergoing ophthalmic angiography
Market Trend
- Consumer Increasing Health Care Spending
Restraints
- Anaphylaxis or other allergic reactions occurrence in patients with iodine hypersensitivity
Opportunities
Growing healthcare industry and Increasing Opportunities in developing economies
AdvanceMarketAnalytics follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization of the Report:
AMA Research & Media features not only specific market forecasts, but also include significant value-added commentary on:
Market Trends
Technological Trends and Innovations
Regulatory Trends & Policies
Market Maturity Indicators
Market Share Movements
Growth Drivers and Constraints
New Entrants into the Market & Entry/Exit Barriers
Consumer Demographics
Supporting Company Financial and Cash Flow Planning
Open Up New Markets
To Seize Powerful Market Opportunities
Key Decision in Planning and to Further Expand Market Share
Identify Key Business Segments, Market Proposition & Gap Analysis