Cardiovascular Monitoring and Diagnostic Devices Market - current status and future directions.

Intense competition and high entry barriers outline the present state of the competitive landscape of the global cardiovascular monitoring and diagnostic devices market, states a recent Transparency Market Research (TMR) report. In the markedly consolidated market, the top two vendors, GE Healthcare and Philips Healthcare, accounted for a more than 55% share in 2015. Moreover, these two companies have their headquarters in Europe, granting this regional market a high level of saturation. The other half of the competitive landscape is, however, highly fragmented with a large number of specialty vendors operating in regional pockets.

However, the rising prevalence of a number of cardiovascular diseases coupled with the rising global demand for technologically advanced and innovative devices would attract new entrants to the market. As a result, the competition in the market is expected to further intensify in the next few years. Pulling ahead in these foreseeable tough times will require alignment of business strategies towards untapped opportunities in several regional territories and innovative ways of promoting products. Other key vendors operating in the global cardiovascular monitoring and diagnostic devices market include Spacelabs Healthcare, St. Jude Medical, Inc., and Siemens Healthcare.

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Vast Geriatric Population Base and Flourishing Medical Tourism Industry Key to Market’s Growth

According to estimates derived by the United Nations University (UNU), the share of people aged above 65 years in the global population is expected to rise from 7% in 2000 to 16% by 2050. As people above the age of 65 years are more prone to acquiring cardiovascular diseases, the vast rise in the world’s geriatric population in the near future will stimulated demand for effective cardiovascular monitoring and diagnostic devices.

Additionally, the flourishing sector of medical tourism in developing countries will have a sizeable impact on the consumption of a variety of cardiovascular monitoring and diagnostic devices in regions such as Asia Pacific and Middle East in the next few years. Low procedural costs and availability of reliable and affordable labor in countries such as Turkey, India, China, and Indonesia will make them the most preferred foreign destinations for undertaking complex cardiovascular diagnosis and surgeries.

Factors such as inadequate physical activities, unhealthy diets, high stress levels, and rising consumption of tobacco and alcohol are substantially increasing risk of cardiovascular disorders in the global population. This has also emerged as a high-impact driver of the global cardiovascular monitoring and diagnostic devices market in the past few years.

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Lack of Favorable Reimbursement Policies and High Cost of Advanced Devices Challenge Expansion across Developing Economies

For most varieties of cardiovascular monitoring and diagnostic devices available in the market presently, high costs and limited or inadequate reimbursement policies are the key hindrances that limit the overall development of the market to a certain extent. In developed regions such as the U.S., Japan, and many European countries, the high costs of devices are supported by sufficient reimbursement for purchasing these devices and tests. However, post purchase activity costs, involving costs for recording and testing activities are not covered under reimbursement policies, bringing down the attractiveness of high-end cardiovascular monitoring and diagnostic devices, especially across cost-sensitive developing regions.

The global market for cardiovascular monitoring and diagnostic devices is expected to expand at a healthy CAGR of 6.4% over the period between 2016 and 2024, rising from a valuation of US$1.8 bn in 2015 to US$3.1 bn by 2024. The segment of ECG systems contributed the largest share to the market’s overall revenues in 2015, accounting for nearly US$878 mn in 2015. However, the segment of implantable loop recorder is expected to expand at the highest CAGR of 7.1% over the period between 2016 and 2024. Geography-wise, Asia Pacific will present the most promising growth opportunities over the said period, expanding at a 7.1% CAGR.

This review of the global cardiovascular monitoring and diagnostic devices market is based on a recent market research report published by Transparency Market Research, titled “Cardiovascular Monitoring and Diagnostic Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

Interventional Radiology Market: Business Challenges, Emerging Technologies & Competitive Landscape

Global Interventional Radiology Market: Snapshot

The use interventional radiology procedures is witnessing a huge surge across the globe owing to their minimally invasive nature and benefits such as less recovery time and hospital stay. A number of interventional radiology procedures are being regularly used for the treatment of diseases such as cancer, cardiovascular diseases, and traumatic inquiries, the prevalence of which is rising at an alarming rate globally. The field of interventional radiology also holds immense promise owing to the wide range of applications and technological advancements.

As a result, the global interventional radiology market is poised to observe significant growth in the next few years. Transparency Market Research estimates that market will exhibit a CAGR of 5.8% over the period between 2016 and 2024. If the prediction holds true, the market, which valued at US$13.8 bn in 2015, is expected to reach US$22.9 bn by 2024.

Rising Numbers of Traumatic Injuries to Boost Demand for Embolization Procedures

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In terms of application, the global market for interventional radiology is examined for angiography, balloon angioplasty, embolization, vertebroplasty, biopsy, kyphoplasty, and RF ablation. Of these, the segment of embolization is expected to account for a share of 24.2% of the global market by 2024. The segment also holds the dominant position in the market presently and accounted for a 23.8% of the global market in 2015.

The rising prevalence of traumatic injuries across the globe is expected to drive the increased demand for embolization surgeries worldwide. According to the National Trauma Institute, traumatic injuries account for nearly 41 mn visits to emergency departments and over 2.3 mn hospital admissions. Traumatic injury is also a serious public health issue globally and is expected to lead to an increased demand for embolization surgeries in the near future.

The angiography segment is projected to account for a share of 21.0% in the global market by 2024. The rising global prevalence of strokes and high demand for minimally invasive surgeries will allow the segment to expand at a favorable pace over the forecast period. Biopsy and vertebroplasty-kyphoplasty are relatively smaller segments of the market, with a collective share of nearly 11.8% in the global market in 2015. The segment of biopsy is expected to register a CAGR of 5.6% during the forecast period owing to the increasing prevalence of breast cancer.

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Asia Pacific to Lead to Promising Growth Opportunities

With a 38.4% share, the North America interventional radiology market held the top spot in the global market in 2015. Rising demand for minimal invasive procedures and an endless supply of technological advanced devices and equipment are the major factors supporting the growth of the North America market. The x-ray segment gained the leading position in North America in the same year, accounting for over half of the market. Owing to factors such as improvement in technology, rising incidences of a variety of cancers, and well-established healthcare facilities, the North America market for interventional radiology is expected to expand at a swift pace over the next few years as well.

Although North America will continue to account for a higher share in the global interventional radiology market as compared to other regional markets over the forecast period as well, it is expected to lose prominence to the market in Asia Pacific in terms of rate of growth. The Asia Pacific interventional radiology market is expected to exhibit a 7.1% CAGR from 2016 through 2024. Rising prevalence of a variety of cancers, rising geriatric population, improving healthcare facilities, and rising disposable incomes and the relative rise in healthcare spending will play a key role in driving the Asia Pacific interventional radiology market over the said period.

The global interventional radiology market features a consolidated competitive landscape, wherein a relatively small number of companies account for a majority share in the market. Some of the key players operating in the global Interventional Radiology market are Agfa-Gevaert N.V., Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Corporation, Hologic, Inc., Medtronic plc., and Philips Healthcare.

Mechanical Ventilators Market is poised to reach a value of US$1.8 bn by 2024

Key players in the global mechanical ventilators market include Dragerwerk AG & Co. KGaA, Philips Healthcare, GE Healthcare, Smiths Medical, Becton, Dickinson and Company, Fisher and Paykel Healthcare Limited, Getinge Group, Medtronic Plc, ResMed, and Hamilton Medical AG.

Transparency Market Research finds that the global mechanical ventilators market is characterized by the strong presence of a number of local and regional players. These companies are just as capable as global players in efficiently catering to the changing consumer needs and entering neighboring markets. However, regulatory requirements differing from country to country tend to restrict the entry of these players in several national markets. Nevertheless, large multinational players are entering into strategic partnerships or acquiring small start-up companies in order to match the competition in local markets for mechanical ventilators.

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The global market for mechanical ventilators was worth US$1.1 bn in 2015 and is poised to reach a value of US$1.8 bn by 2024, registering a 4.8% CAGR therein. In terms of volume, the mechanical ventilators market is projected to expand at a CAGR of 5.5% during the forecast period.

Non-invasive Mechanical Ventilators Gaining Preference over Invasive Variants

By type of product, critical care mechanical ventilators contributed the most toward the global market. In terms of percentage share contribution, the segment is anticipated to account for a 48.2% share by 2024. The portable mechanical ventilators segment is expected to exhibit the strongest CAGR of 7.6% from 2016 to 2024 by value.

Based on mode, invasive mechanical ventilators presently form the leading segment of the global market. However, registering a rapid growth rate through 2024, the non-invasive mode segment is expected to reflect a gain in market share by the end of the forecast period. On the basis of end use, hospitals account for the major share in the global mechanical ventilators market in terms of revenue. Home healthcare, on the other hand, is forecast to register the highest growth rate by 2024.

From a geographical standpoint, North America is expected to account for a 39.7% share in the global mechanical ventilators market by 2024 and will continue its dominance during the forecast period. Asia Pacific is the most attractive market and is slated to expand at a CAGR of 5.5% from 2016 to 2024.

Increased Demand for Mechanical Ventilators in Hospitals and Trauma Centers

The World Health Organization reports that more than five million deaths are reported every year owing to chronic respiratory diseases. The deteriorating quality of air, particularly in countries where the economy is largely dependent on pollution-intensive industries, is one of the chief causes of the alarming spike in the prevalence of respiratory diseases, especially chronic obstructive pulmonary disease (COPD). This translates into an increased demand for medical devices, one of which is mechanical ventilators.

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“On the backdrop of the constantly growing incidence of reported respiratory diseases, the demand for mechanical ventilators in hospitals and trauma centers has increased and, in recent times, catalyzed the sales of the same,” the author of the report states.

In contrast, the shrinking profit margins of manufacturers, intensive competitive rivalry, budgetary constraints faced by small healthcare facilities, and injuries associated with the prolonged use of ventilators threaten the growth of the global mechanical ventilators market.

Interventional Radiology Market - Latest Innovations, Drivers, Restraints, Challenges and Forecast 2016 - 2024

The global interventional radiology market features a largely consolidated competitive landscape, with the top five players accounting for around 60% of the market in 2015, observes a recent report by Transparency Market Research. These top five vendors, namely Philips Healthcare, Hitachi Medical Corporation, GE Healthcare, Toshiba Medical Systems Corporation, and Siemens Healthcare lead the global market owing to diversified product portfolios, extensive geographical presence, and acquisition strategies. Strong new product development capabilities have also worked in the favor of these companies over the years. With launch of innovative equipment such as the interventional x-ray equipment varieties EchoNavigator, Allura 3D, and FlexVision, these companies are expected to retain their dominance in the next few years as well.

Transparency market Research (TMR) states that the global interventional radiology market was valued at US$13.8 bn in 2015 and is expected to expand at a CAGR of 5.8 % over the period between 2016 and 2024. If the prediction holds true, the market is expected to reach US$22.9 bn by 2024. Of the key applications of interventional radiology, the segment of embolization presently dominates and held a nearly 24% of the market’s overall valuation in 2015. From a geographical perspective, North America dominated, acquiring a nearly 38% of the global market in 2015.

Rising Prevalence of Chronic Diseases and Mounting Global Population of Geriatrics Key to Market Growth

Busy lifestyles, lack of physical activities, and unhealthy habits such as smoking and poor diet are resulting in an epidemic of obesity, associated cardiac conditions, and several other chronic diseases. Chronic diseases are one of the leading causes of mortality and disabilities across the world. The increasing incidence of such conditions is expected to one of the foremost causes of the rising demand for interventional radiology procedures during the forecast period. Moreover, the evolution of new techniques such as optical coherence tomography (OCT) as well as fractional flow reserve (FFR), which is used for stenting patients with multi-vessel disease, are likely to increase the global adoption of interventional radiology techniques over the forecast period.

In addition to these factors, the rising global population of geriatrics is also expected to be one of the key factors driving the global interventional radiology market over the forecast period. Aging is associated with a large number of diseases and disorders. A majority of the geriatric population suffers from cardiovascular, neurological, and orthopedic disorders. The rising number of elderly individuals, therefore, is expected result in the increased demand for surgical interventions or acute care services in the near future.

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Lack of Encouraging Reimbursement Policies to Deter Adoption across Several Economies

Several countries on a global front have very limited or almost no reimbursement for intervention radiology products or procedures. Across several key developing economies such as Brazil and India, there has been a reduction in the already low reimbursement for procedures such as angioplasty and products such as cardiac stents owing to the high cost of the surgery and equipment of late. The situation is likely to hamper the growth of the intervention radiology market in the next few years.

In addition to this factor, the global interventional radiology market is also expected to be hampered owing to the high excise duties levied on the manufacturers of medical devices globally. The reduction in the profits of manufacturers owing to such taxes reflect in the increased costs of interventional radiology equipment, adding to the already high cost of procedures.

This review of the market is based on a recent market research report published by Transparency Market Research, titled “Interventional Radiology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”

Global Telemedicine Market to Reach US$36.30 bn by 2020; Growth Spurred by High Personal Healthcare Demand

The valuation of the global telemedicine market was recorded at US$14.30 bn in 2014. After a forecasted progression at a CAGR of 14.30% between 2014 and 2020, this market is expected to reach US$36.30 bn in 2020, according to a market intelligence study published by Transparency Market Research. The report, titled “Telemedicine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” highlights the key trends, opportunities, and challenges of this market in the given forecast period, thus providing users with valuable knowledge for the purpose of strengthening their position in this market.

According to the report, the largest driver for the growth of the global telemedicine market is the increasing demand for better personal healthcare methods. A larger percentage of the population is able to express their need for faster and sharper diagnostics and medical attention thanks to their increased spending ability; integrating modern telecommunications with healthcare is one of the best ways to achieve that.

Other drivers of the global telemedicine market are the increasing need for data privacy, larger number of supportive reimbursement policies, and positive government initiatives and investments. Additionally, the growth of the global telemedicine market will also lead towards meeting one of the healthcare industry’s largest targets: the rural population. People living in rural areas, or even those that live in remote and difficult-to-access regions can easily be helped through the use of telecom services in medicine.

The report also warns its users of the various restraints associated with the global telemedicine market, the most prominent of which is the current lack of skilled labor required for operating the devices in this market. The lack of standard or professional training for the use of telemedicine is causing healthcare organizations to achieve unfavorable response times. Another issue persistent in the global telemedicine market is the lack of confidence that telemedicine can impart to patients, regarding the accuracy of medical assessment.

The report provides details on the global telemedicine market in a segmented fashion. The market is segmented by specialty, service type, and geography.

In terms of specialty, the global telemedicine market is segmented into gynecology, emergency care, internal medicine, orthopedics, neurology, cardiology, dermatology, and others. The market will benefit from the neurology segment, which is progressing at the fastest CAGR of 15.90% in the market, within the given forecast period.

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In terms of service types, the global telemedicine market is segmented into tele-surgery, tele-care, tele-education, tele-consultation, and tele-monitoring. Tele-consultation led the global telemedicine market in the 2013, while tele-monitoring is expected to be the fastest-growing segment till 2020. This is attributed to the growing geriatric demographic that is in greater need of home healthcare.

The geographical segmentation of the global telemedicine market reveals North America to be the largest region in terms of revenue, in 2013. Meanwhile, the fastest growth rate in the market, over the given forecast period, is attributed to Asia Pacific owing to a high population density and a rapidly developing healthcare infrastructure.

The key players in the global telemedicine market are McKesson Corp., Siemens Healthcare, Medtronic, Inc., Allscripts Healthcare Solutions, LifeWatch AG, Medtronic, Inc., Agfa HealthCare NV, OBS Medical Ltd., Honeywell HomMed LLC, and AMD Global Telemedicine, Inc.

Microfluidic Device Systems Market in North America to Grow at Striking 21.70% CAGR from 2013 to 2019

There has been a recent release of a new report on the global microfluidic device systems market by Transparency Market Research (TMR). The report suggests that the global microfluidic device market is estimated to grow at a CAGR of 22.8% during the period of 2013 to 2019. The market, which was valued at US$1.5 bn in 2013, will reach US$5.2 bn in 2019.The report, which is titled “Microfluidic Device System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” provides a comprehensive study on the analysis of the microfluidic device market for the period from 2014 to 2019, wherein 2013 is considered as the base year for calculation. The report contains data related to the current market dynamics, trends, market drivers, restraints, and also the strategic developments propelling the global microfluidic device systems market.

The report states that the rising demand for microfluidic devices in proteomics and genomics, point of care testing, and miniaturization of chips are the chief driving forces behind the microfluidic device systems market’s growth. Another factor that could fuel the growth of the microfluidic device systems market is a change in the material mix, which would provide an opportunity to new market entrants. Conversely, strict regulations and standards for global affiliation of medical devices as well as high performance and consistency in quality of the devices are some of the factors limiting the growth of the microfluidic device systems market. Manufacturing issues such as surface chemistry and geometrical issues also account for the challenges faced by the microfluidic device systems market.

The report categorizes the global market for microfluidic device systems chiefly on the basis of four criteria: geography, industry, application, and materials used in the manufacturing process of microfluidic devices.

On the basis of application, the market for microfluidic devices is segmented into pharmaceutical and life sciences research, point of care testing, environment and industrial, clinical and veterinary diagnostics, and drug delivery. Of these, the largest segment of the microfluidic devices market is the veterinary and clinical diagnostic application segment.

Geographically, the microfluidic devices market is segmented into Asia, North America and Europe, wherein North America dominates the global microfluidic devices market, while Asia is a rapidly developing region for the microfluidic devices market.

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On the basis of industry, the microfluidic devices market is segmented into in- vitro diagnostics, pharmaceuticals, and medical devices. Among these, in-vitro diagnostics is the largest industry and is estimated to reach US$3.3 bn in 2019.

The report profiles some of the prominent companies such as Abbott Laboratories, Roche Diagnostics, Siemens Healthcare, Becton Dickinson and Company, Agilent Technologies, Fluidigm Corporation, Bio-Rad Laboratories, and Johnson & Johnson, which are key players in the microfluidic devices market.

The market for microfluidics devices can be expected to rise as microfluidics is an evolving field with a huge potential commercially. With applications in various fields such as cell biology research, protein crystallization, and medicine, microfluidics will remain in the market due to its efficacy in the field of treatment.

India Leads Global Medical Tourism Industry thanks to Presence of Advanced Medical Technologies

The global medical tourism market is led by some of the key companies including Apollo Hospitals (India), Prince Court Medical Center, and Bumrungrad International Hospital (Thailand). Key companies are concentrating on sophisticating some of the medical tourism services including neurosurgery, cardiac surgery, dental care, cosmetic surgeries, and orthopedics. Over the past years, the global medical tourism market has growth at a considerable rate owing to the rising medical infrastructure and the availability of medical devices. Globalization of health care services has largely propelled the global medical tourism market. Transparency Market Research Report (TMR), in its new report, states that changing trends in globalization of the healthcare industry have assisted people to avail affordable medical services.

The global medical tourism market is expected to reach US$32.5 bn by 2019. Based on geography, the global medical tourism market was dominated by India in the recent past and the trend is expected to continue in the years to come. The medical tourism market in India is predicted to reach US$14,058.1 mn by 2019, followed by Brazil. Asia has become the most prominent markets for medical tourism, with countries such as India, Malaysia, Thailand, and Singapore leading the demand for healthcare services. Cultural similarity and geographic proximity are two of the factors that can be credited for the growth of the medical tourism market in Asia.

Aging Population to Propel Global Demand for Medical Tourism

The rising aging population is a boon for the global medical tourism market. With age, people are facing many health issues. The demand for quality medical care and treatment is increasing in many nations. Some other factors expected to boost the demand for medical tourism are the reduced cost of procedures, large uninsured population, the rising tourism industry, and wider treatment options. An improved healthcare infrastructure is benefiting the players operating in the global medical tourism industry to offer required services. Thanks to improved medical infrastructure, aging people are able to avail medical services while being on a tour.

Follow-up Care to be the Biggest Challenge

Although the global demand for medical tourism is increasing at a considerable pace, the lack of follow-up care is expected to be the biggest challenge for the key companies operating in the global medical tourism market. “Management of post-treatment complications and post-operation complications are still a problem for the patients,” says TMR analysts. Local healthcare service providers find it uncomfortable to solve complicated medical cases that are performed by unknown medical professionals in various tourist locations. This is another problem expected to restrict the growth of the global medical tourism market.

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Government Support to Create New Opportunities

Governments of many nations are supporting medical tourism by increasing their funding for research and development of new drugs. With favorable government policies, medical tourism has been simplified. Medical tourism has gained significant importance in the global tourism market. Governments of countries such as India, Singapore, Thailand, and China have formed separate medical tourism agencies to be a part of the growing global medical tourism market. Many governments are allowing new companies to enter the global medical tourism market, which is expected to propel the market in many ways.

This information is based on the findings of a report published by Transparency Market Research titled “Medical Tourism Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.”

The global medical tourism market is segmented as follows:

Medical Tourism Market, by Geography

• India
  • Overview
  • Cost Comparison of Procedures
  • SWOT Analysis
  • Government Support
  • India Inbound Medical Tourism (No. of patients)
  • India Medical Tourism: Top Revenue Contributing Country (%) (2012)
• Thailand
  • Overview
  • Cost Comparison of Procedures
  • SWOT Analysis
  • Government Support
  • Thailand Inbound Medical Tourism ( No. of patients)
  • Thailand Medical Tourism: Top Revenue Contributing Country (%) (2012)
• Singapore
  • Overview
  • Cost Comparison of Procedures
  • SWOT Analysis
  • Government Support
  • Singapore Inbound Medical Tourism ( No. of patients)
  • Singapore Medical Tourism: Top Revenue Contributing Country (%) (2012)
• Malaysia
  • Overview
  • Cost Comparison of Procedures
  • SWOT Analysis
  • Government Support
  • Malaysia Inbound Medical Tourism ( No. of patients)
  • Malaysia Medical Tourism: Top Revenue Contributing Country (%) (2012)
• Mexico
  • Overview
  • Cost Comparison of Procedures
  • SWOT Analysis
  • Government Support
  • Mexico Inbound Medical Tourism ( No. of patients)
  • Mexico Medical Tourism: Top Revenue Contributing Country (%) (2012)
• Brazil
  • Overview
  • Cost Comparison of Procedures
  • SWOT Analysis
  • Government Support
  • Brazil Inbound Medical Tourism ( No. of patients)
  • Brazil Medical Tourism: Top Revenue Contributing Country (%) (2012)
• Turkey
  • Overview
  • Cost Comparison of Procedures
  • SWOT Analysis
  • Government Support
  • Turkey Inbound Medical Tourism ( No. of patients)
  • Turkey Medical Tourism: Top Revenue Contributing Country (%) (2012)
• South Korea
  • Overview
  • Cost Comparison of Procedures
  • SWOT Analysis
  • Government Support
  • South Korea Inbound Medical Tourism ( No. of patients)
  • South Korea Medical Tourism: Top Revenue Contributing Country (%) (2012)
• Taiwan
  • Overview
  • Cost Comparison of Procedures
  • SWOT Analysis
  • Government Support
  • Taiwan Inbound Medical Tourism ( No. of patients)
  • Taiwan Medical Tourism: Top Revenue Contributing Country (%) (2012)
• Prospective Countries
  • Costa Rica
  • Poland
  • Dubai
  • Philippines

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Growing Demand for Actigraphy Systems Driving Sleep Apnea Diagnostic and Therapeutic Devices Market to Reach US$6.4 Bn by 2019

The global sleep apnea market is largely fragmented in nature having an establishment of big and emerging companies. Players such as ResMed, Inc., Philips Respironics, and Fisher & Paykel Healthcare are amongst the well-established players presenting an extensive range of sleep apnea products in the market. All these players are highly focused on providing consistent product innovation and novel technologies by carrying on extensive research and development for backing the newly launched product advancement processes. In addition, the skyrocketing demand for advanced technologies within sleep apnea devices market and the growing financing activities of upcoming companies may raise the threat from new entrants in this market in forthcoming years.

The global sleep apnea diagnostics and therapeutic devices market is predicted to touch US$ 6,437.6 mn by 2019. In terms of diagnostic devices, polysomnography (PSG) devices represented the top share in the market in the past and are predicted to touch US$788.7 mn by 2019. On the other hand, the segment of actigraphy systems is poised to hold the most lucrative opportunities in the market during the forecast period.

Increasing Inclination toward Customized Comfortable Devices to Bolster Demand for PAP Devices

On the basis of therapeutic devices, the segment of positive airway pressure (PAP) devices accounted for a significant share in the past. On the other hand, the segment of oral appliances is poised to exhibit the greatest growth rate of 11.80% during the forecast period. This is owing to the growing inclination toward comfortable custom made devices and the launch of economical devices with enhanced comfort levels.

Geographically, the global sleep apnea diagnostic and therapeutic devices market is led by the region of North America and the North America sleep apnea diagnostic and therapeutic devices market is predicted to touch 2,518.4 mn by 2019. Europe trailed North America and held the second position in the market. The reasons for the superiority of these two regions include the ongoing technological advances and the growing acceptance of cutting-edge therapeutics and diagnostic platforms here.

New Innovative Technologies to Shift Market to High Gear

The ongoing rise in the count of patients suffering from sleep apnea globally is a key factor boosting the growth of the market. In addition, sleep apnea is extremely prevalent in obese individuals owing to their airways becoming blocked or obstructed because of enlarged tongue and excessive fat around their neck. Hence, the growing occurrence of obesity will provide impetus to the development of the global sleep apnea diagnostic and therapeutic devices market. “The introduction of new technologies in both treatment and diagnosis will positively impact the growth of the market”, says a TMR analyst.

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On the other hand, factors such as absence of patient compliance owing to handling difficulties and discomfort experienced by patients while using sleep apnea devices may impede the growth of this market. Nonetheless, a number of companies are putting in efforts for developing easy to utilize and compact, yet effective devices in this market, thus bringing in new opportunities in the market and bolstering market growth, states a TMR analyst.

This information is based on the findings of a report published by Transparency Market Research titled, “Sleep Apnea Diagnostic and Therapeutic Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.”

Mechanical Ventilators Market - Latest Innovations, Drivers, Restraints, Challenges and Forecast 2016 - 2024

Key players in the global mechanical ventilators market include Dragerwerk AG & Co. KGaA, Philips Healthcare, GE Healthcare, Smiths Medical, Becton, Dickinson and Company, Fisher and Paykel Healthcare Limited, Getinge Group, Medtronic Plc, ResMed, and Hamilton Medical AG.

Transparency Market Research finds that the global mechanical ventilators market is characterized by the strong presence of a number of local and regional players. These companies are just as capable as global players in efficiently catering to the changing consumer needs and entering neighboring markets. However, regulatory requirements differing from country to country tend to restrict the entry of these players in several national markets. Nevertheless, large multinational players are entering into strategic partnerships or acquiring small start-up companies in order to match the competition in local markets for mechanical ventilators.

The global market for mechanical ventilators was worth US$1.1 bn in 2015 and is poised to reach a value of US$1.8 bn by 2024, registering a 4.8% CAGR therein. In terms of volume, the mechanical ventilators market is projected to expand at a CAGR of 5.5% during the forecast period.

Non-invasive Mechanical Ventilators Gaining Preference over Invasive Variants

By type of product, critical care mechanical ventilators contributed the most toward the global market. In terms of percentage share contribution, the segment is anticipated to account for a 48.2% share by 2024. The portable mechanical ventilators segment is expected to exhibit the strongest CAGR of 7.6% from 2016 to 2024 by value.

Based on mode, invasive mechanical ventilators presently form the leading segment of the global market. However, registering a rapid growth rate through 2024, the non-invasive mode segment is expected to reflect a gain in market share by the end of the forecast period. On the basis of end use, hospitals account for the major share in the global mechanical ventilators market in terms of revenue. Home healthcare, on the other hand, is forecast to register the highest growth rate by 2024.

From a geographical standpoint, North America is expected to account for a 39.7% share in the global mechanical ventilators market by 2024 and will continue its dominance during the forecast period. Asia Pacific is the most attractive market and is slated to expand at a CAGR of 5.5% from 2016 to 2024.

Increased Demand for Mechanical Ventilators in Hospitals and Trauma Centers

The World Health Organization reports that more than five million deaths are reported every year owing to chronic respiratory diseases. The deteriorating quality of air, particularly in countries where the economy is largely dependent on pollution-intensive industries, is one of the chief causes of the alarming spike in the prevalence of respiratory diseases, especially chronic obstructive pulmonary disease (COPD). This translates into an increased demand for medical devices, one of which is mechanical ventilators.

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“On the backdrop of the constantly growing incidence of reported respiratory diseases, the demand for mechanical ventilators in hospitals and trauma centers has increased and, in recent times, catalyzed the sales of the same,” the author of the report states.

In contrast, the shrinking profit margins of manufacturers, intensive competitive rivalry, budgetary constraints faced by small healthcare facilities, and injuries associated with the prolonged use of ventilators threaten the growth of the global mechanical ventilators market.

This review is based on the findings of a TMR report titled “Mechanical Ventilators Market (Product Type - Critical Care, Neonatal Intensive Care, Portable, and Transport; Mode - Invasive and Non-invasive; End User - Hospitals, Trauma Centers, and Home Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

Cardiovascular Monitoring and Diagnostic Devices Market - current status and future directions.

Being the leading cause of death and witnessing a high rise in prevalence, the class of ailments that come under the purview of cardiovascular diseases is witnessing increased focus from healthcare, research, and government bodies alike. A large number of companies are venturing into the market with an innovative range of products for diagnosing and treating a variety of cardiovascular diseases. Research and development activities are being granted increasingly more funds and governments bodies are implementing various health schemes aimed at reducing the prevalence and improving awareness about cardiovascular diseases.

Transparency Market Research states that the global cardiovascular monitoring and diagnostic devices market held an opportunity of US$1.8 bn in 2015. The market is expected to expand at a 6.4% CAGR over the period between 2016 and 2024, and rise to a valuation of US$3.1 bn by 2024.

Electrocardiogram (ECG) Systems Lead on Account of Cost Effectiveness and High Efficiency

The product segment of ECG systems presently holds the largest share in the global cardiovascular monitoring and diagnostic devices market. The widespread presence and high preference for ECG systems in developed and developing regions alike are key to the segment’s leading market position. ECG systems are expected to remain the key contributor to the market’s overall revenues over 206 and 2024 as well, expanding at a 6.3% CAGR in the global market.

However, the segment of implantable loop recorders is expected to witness the fastest expansion, a 7.1% CAGR from 2016 to 2024. The segment is projected to benefit from the rising awareness about the use of these devices in diagnosing syncope. As several cases of the disease remain undiagnosed when other conventional diagnostic methods are used, implantable loop recorders are gaining an increased level of adoption across medical diagnostic centers globally. The valuation of the segment is expected to reach US$152.7 mn by 2024.

The segment of Holter monitors also holds immense growth promise owing to the rising prevalence of conditions such as arrhythmia and conduction block. The segment was valued at US$416.1 mn in 2015 and is expected to expand at a high single-digit CAGR from 2016 to 2024.

North America to Continue Taking Largest Share of Pie but Emerging Economies Hold More Promise

North America accounted for the largest share of the overall revenues of the global cardiovascular monitoring and diagnostic devices market in 2015. The region is expected to remain the largest market over the period between 2016 and 2024 as well. Factors such as favorable reimbursement policies, high awareness about available diagnosis and treatment methods among patients and physicians, favorable reimbursement policies, and efficient healthcare infrastructure are factors that will help North America remain at the forefront of the global market. Europe, the second largest contributor to the global cardiovascular monitoring and diagnostic devices market in 2015, will also remain a lucrative owing to large scale healthcare infrastructure development activities and rising prevalence of cardiovascular disease.

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However, developing regions such as Latin America and Asia Pacific will present the most promising growth opportunities for the global cardiovascular monitoring and diagnostic devices market over the period between 2016 and 2024. The presence of vast untapped growth prospects, rising healthcare expenditure, and increasing awareness about the efficiency of available techniques and devices in effectively curing several cardiovascular conditions will remain key to the overall growth of the market.

Several research studies also state that the risk of cardiovascular diseases is substantially high in mid- and low-income economies. This substantiates the fact that a large variety of cardiovascular monitoring and diagnostic devices will be consumed in Asia Pacific and Latin America in the next few years. The market for these devices will expand at a 7.5% in Asia Pacific and a 7.3% CAGR in Latin America over the period between 2016 and 2024.

In the highly dynamic global market for cardiovascular monitoring and diagnostic devices market, the top two vendors, GE Healthcare and Philips Healthcare accounted for a more than 55% of the global market in 2015. Other key vendors in the market are Spacelabs Healthcare, St. Jude Medical, Inc., and Siemens Healthcare.

Total Ankle Replacement Market - Trends and Forecast, 2013 – 2019

Total ankle replacement is a surgical process for replacing damaged bones in the ankle joint. Total ankle replacement is performed by placing a plastic or metal implant on top of the ankle bone (talus) and at the end of the shin bone (tibia). Loss of movement and pain in the ankle are the common symptoms. Bone fracture, arthritis, osteoarthritis, and rheumatoid arthritis are some of the primary reasons for total ankle replacement. Arthrodesis and total ankle replacement are the two common types of total ankle replacement surgeries. Recovery period for the total ankle replacement surgery is up to three months after the surgery. Some of the risks associated with ankle replacement are ankle weakness, bone damage during surgery, stiffness, nerve damage, allergic reactions to the artificial joint, and blood vessel damage. Growing awareness about these risks associated with the total ankle replacement surgeries are expected to hamper the growth of the global total ankle replacement market.

The global total ankle replacement market is segmented on the basis of design and geography. By geography, the global total ankle replacement market was dominated by North America in 2013 in terms of revenue and the region is expected to maintain its dominant position throughout the forecast period.

The overview section of the report provides comprehensive data on market drivers, factors limiting the growth of the market, current market trends, market structure, and predictions for the years to come. The report on the global total ankle replacement market is a complete study of changing trends, restraints, and industry growth drivers. The report presents a blueprint that highlights analysis of technology developments. A detailed review of macro and micro factors that are affecting the growth of the market are highlighted in the report. The Porter’s five forces model is used to measure the feasibility of new projects and competitive analysis.

Overview of the Total Ankle Replacement Market

By design, the global total ankle replacement market is classified into agility ankle prosthesis, Buechel-Pappas ankle prosthesis, Scandinavian total ankle replacement (STAR), Salto total ankle replacement, HINTEGRA total ankle replacement, mobility ankle system, TNK total ankle replacement, Ramses total ankle replacement, AES total ankle replacement, BOX total ankle replacement, ESKA ankle prosthesis, German ankle system, alphanorm total ankle replacement, TARIC total ankle replacement, and INBONE total ankle replacement. Based on geography, the global total ankle replacement market is divided into North America, Europe, Asia Pacific, and Rest of the World. The Europe total ankle replacement market is expected to rise due to rising awareness amongst people and the increasing obese population. Asia Pacific is predicted to be the emerging region in the global total ankle replacement market during the forecast period due to increasing awareness about advanced medical technology.

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Risks such as continued pain, mal-alignment, and arthritis development in the adjacent joints are expected to restrict the growth of the global total ankle replacement market in the years to come. However, the growing aging population is a key factor expected to drive the global total ankle replacement market during the period from 2013 to 2019.

Companies mentioned in the research report

Integra Life Sciences, Implants International, Small Bone Innovation, Inc., DePuy Synthes, Zimmer Holdings, Inc., and KYOCERA Medical Corporation are some of the leading companies operating in the global total ankle replacement market. The leading companies are expected to face competition from the emerging companies in the years to come.

Continuous Glucose Monitoring Market Outlook and Forecast up to 2019

Continuous glucose monitoring systems (CGMS) are portable and real-time glucose monitoring systems employed for glucose level measurement from time to time from the body of a patient. These systems make use of a wireless technology for the transmission of glucose readings which are taken from the interstitial fluid of the skin cells of the patient, unlike the measurement of glucose levels present in the blood which happens in case of blood glucose meters. The swiftly increasing diabetic population globally has substantially raised the preference for effectual diabetes management systems.

Transparency Market Research (TMR), a market intelligence company, studies the continuous glucose monitoring market in detail. It provides the reasons behind their increased demand and the type of devices leading the market.

Research Report:

http://www.transparencymarketresearch.com/continuous-glucose-monitoring.html

Q. Why are CGMS gaining popularity over the conventionally utilized glucose monitoring systems?

The utilization of CGMS is immensely rising and they are overtaking the conventionally utilized glucose monitoring systems owing to them being user friendly, more accurate, and their provision of presenting access to real-time trends and values. In addition, continuous glucose monitoring systems aid in the management of diabetes, particularly in patients having diabetes I and also aid in lowering long-terms complexities related to diabetes. Furthermore, the increasing technological innovations are also amongst the prime factors behind the increasing employment of these systems, making the control and management of diabetes mellitus relatively simpler. The early identification of hypoglycemic and hyperglycemic levels by the utilization of CGMS devices will also fuel their demand over other types of blood glucose monitoring systems.

Q What are the key opportunities and which factors may negatively impact the growth of the market?

There are numerous growth opportunities in the market as a number of companies have made investments in the research and development of CGMS, thus making the management and control of diabetes easier. For instance, Dexcom, Inc. has developed the next generation disposable continuous glucose monitoring device and it will be introduced in the market by 2021. This launch will positively impact the growth of the market. In addition, the artificial pancreas’ approval, which makes the utilization of CGMS mandatory has also emerged as a key opportunity in the global continuous glucose monitoring devices market. However, the dearth in the reimbursement options and the strict regulatory norms in some nations are amongst the crucial factors impeding the growth of the continuous glucose monitoring market.

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Q. Which device/brand and region have dominated the market?

The segment of Guardian Real Time CGM System led the market in 2012 and was trailed by Dexcom Seven Plus CGM system. On the other hand, in the forecast horizon between 2013 and 2019, the development of the segment of FreeStyle Navigator will witness immense growth.

Geographically, North America held a dominant share in the market for CGMS on the basis of revenue in 2012. This is due to the increasing geriatric population, the increasing obesity, and the growing acceptance of cutting-edge devices in this region. North America was trailed by Europe, which was further followed by Asia Pacific, constituting the third position in the market. In addition, Asia Pacific is predicted to hold the most lucrative opportunities in the growth of the market in forthcoming years.

Neuromodulation Devices Market - Latest Innovations, Drivers, Restraints, Challenges and Forecast 2012 - 2018

Transparency Market Research, in a report titled “Neuromodulation Devices Market - Global Industry Size, Market Share, Trends, Analysis, And Forecast 2012 - 2018,” states that the global neuromodulation devices market is anticipated to expand at a strong CAGR of 14.40% from 2012 to 2018, rising from an estimated value of US$2.7 bn in 2011 to over US$7 bn by 2018.

Neuromodulation devices are advanced medical devices that suppress or enhance the activity of the nervous system for the effective treatment of a particular disease. Neuromodulation technologies can be both implantable as well as non-implantable and comprise devices that deliver chemical, electrical, or other agents to modify nerve cell and brain activity.

The global neuromodulation devices market is driven by a number of factors, including major technological advancements, the add-on therapy nature of neuromodulation devices, the surge in healthcare expenditure by consumers, the rising prevalence of lifestyle-associated disorders such as obesity and depression, the increasing prevalence of diseases such as Alzheimer’s and Parkinson’s, the rising incidence of chronic diseases, the surge in unmet medical needs, the growing demand for minimally invasive surgeries, and the increase in external funding for clinical studies. In contrast, strict FDA approval norms and other government restrictions, the risks and side effects associated with the use of neuromodulation devices, and the availability of alternate treatment options threaten to impede the global neuromodulation devices market.

The report studies the overall market for neuromodulation devices by segmenting it on the basis of type of technology, area of application, and geography.

By type of technology, the neuromodulation devices market is divided into deep brain stimulation, vagus nerve stimulation, spinal cord stimulation, sacral nerve stimulation, and gastric electric stimulation. On the basis of area of application, the neuromodulation devices market is categorized into Boston Scientific’s Precision Spinal Cord Stimulation System, St. Jude Medical’s Eon Mini Neurostimulator System, IntraPace’s Abiliti System, Cyberonics’ VNS Therapy System, Medtronic’s Enterra Therapy System, Medtronic’s Spinal Cord and Deep Brain Neurostimulation Systems, Codman & Shurtleff’s Medstream System, and Nevro’s Senza System for Spinal Cord Stimulation.

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The global neuromodulation devices market is geographically divided into Asia Pacific, Europe, North America, and Rest of the World. Accounting for a massive 65.0% share in the overall market, North America emerged as the leader in the neuromodulation devices market in 2011 and was valued at US$1.7 bn. There has been a considerable rise in the demand for neuromodulation devices in the developing economies in Asia Pacific and this surge in demand is anticipated to drive the Asia Pacific neuromodulation devices market at a remarkable CAGR of over 15.0% from 2012 to 2018. A number of emerging economies in Eastern Europe and Latin America are also anticipated to gain prominence in the neuromodulation devices market over the coming years.

The report identifies the leading players operating in the global neuromodulation devices market and reviews them based on attributes such as business strategies, company overview, product portfolio, financial overview, and recent developments. Boston Scientific Group, Nevro, Cervel Neurotech Inc., Codman and Shurtleff, Integra, Uroplasty, IntraPace, Cyberonics, Medtronic, St. Jude Medical, and Neuronetics Inc. are some of the top companies competing in the neuromodulation devices market.

Global Surgical Navigation Systems Market to Exhibit 4.50% CAGR 2014-2020 as Preference for Minimally Invasive Surgeries Grows

The intense rivalry between Medtronic Inc., BrainLab AG, and Stryker Corp. points towards a highly competitive landscape of the global market for surgical navigation systems, states a report by Transparency Market Research (TMR). The market is moderately concentrated. The top three participants accounted for a share of nearly 75% in 2013. The manufacturers of surgical navigation systems are increasingly entering into contracts with end users, such as hospitals and medical research institutes, to provide post-purchase services efficiently. This, in turn, is likely to strengthen the relationships between players and end users in the near future, leading to a deepened rivalry between manufacturing companies to capture each greater market share. This competition will intensify further due to the limited growth opportunities in terms of manufacturing cost and product differentiation.

The report offers a comprehensive assessment of the global market for surgical navigation systems. As per the study, the overall market will increase at a CAGR of 4.50% during the period from 2014 to 2020 and reach a value of US$295.5 mn by the end of the forecast period. Compared to other navigation systems, the demand for neurosurgery navigation systems is higher and is likely to remain the same over the coming years.

Demand for Surgical Navigation Systems to Remain Higher in North America

In this study, Asia Pacific, North America, Europe and the Rest of the World have been identified as the key geographical segments of the worldwide surgical navigation systems market. With a share of 40%, North America acquired the leading position in the overall market in 2013. The presence of an advanced healthcare infrastructure, together with a well-structured regulatory framework, has been driving the adoption rate of surgical navigation systems in this region. The trend is likely to continue over the forecast period, ensuring the dominance of North America.

Asia Pacific is also expected to record a robust rise in the uptake of surgical navigation systems in the coming years due to the increasing medical expenditure in this region. Analysts project the demand for these systems to expand at a CAGR of 7.60% between 2014 and 2020 in Asia Pacific, reports the research study.

Increased Awareness Regarding Usage and Benefits of Surgical Navigation Systems to Boost Adoption

“The increased awareness regarding the benefits that surgical navigation systems offer has played a significant role in driving their demand,” says an analyst at TMR. The leading manufacturers are taking initiatives to create more awareness about the applications and the benefits of these systems among healthcare professionals, which, in turn, is accelerating their sales substantially.

Apart from this, the rising trend of minimally invasive surgeries has also impacted positively on the adoption of surgical navigation systems, globally. As these systems impart accuracy to minimally invasive surgical procedures, the risk of failure reduces significantly as compared to conventional procedures, notes the study.

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High Initial and Maintenance Cost to Hamper Market’s Growth

In the coming years, though the demand for surgical navigation systems will escalate considerably, the cost associated with these systems may restrict the market from rising steadily. The average price of a surgical navigation system ranges from US$0.2 mn to US$0.65 mn on the basis of the combination of software employed on its basic unit.

Taking the initial investment and the maintenance cost in consideration, it will become difficult for a lot of healthcare organizations and research institutes to afford these systems. This factor may lead to a decline in their usage over the next few years.

The study presented here is based on a report by Transparency Market Research (TMR) titled “Surgical Navigation Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

Global Optical Imaging Market to Exhibit 4.50% CAGR from 2014 to 2020; Highest use Seen in Oncology Applications

Featuring the presence of only a few global and domestic players, the global optical imaging market exhibits a consolidated vendor landscape. With key players looking to gain competitive advantage, the introduction of novel technologies or products could induce competition among the top players in the market, states Transparency Market Research (TMR) in a new study. TMR expects the overall rivalry in the global optical imaging market to remain moderate to high between 2014 and 2020. Some of the leading players operating in the market are St. Jude Medical, Inc., Carl Zeiss AG, Michelson Diagnostics Ltd., Topcon Medical Systems, Inc., Bioptigen, Inc., and Heidelberg Engineering GmbH.

The global optical imaging market is forecast to exhibit an impressive CAGR of 10.8% between 2014 and 2020. The market stood at US$1.06 bn in 2013 and is expected to reach US$2.19 bn by the end of 2020. By application, the oncology segment is expected to rise at a considerably high CAGR of 15.1% CAGR during the forecast period. Regionally, the market was dominated by North America with a share of 46.1% in 2013.

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Demand for Optical Imaging to Rise in Response to Increasing Incidence of Lifestyle Diseases

The market is projected to witness considerable growth in the forthcoming years as the prevalence of disorders related to skin, teeth, eye, and other organs increase. As people grow more accustomed to sedentary lifestyle, extended working hours, and lack of exercise, they facing more number of health problems than ever before. Lifestyle diseases such as hypertension and diabetes have thus become highly prevalent worldwide. This diseases often make people vulnerable to problems related to eyes, skin, teeth, and other vital organs, thus in turn fuelling demand for optical imaging devices.

Rising Geriatric Population to Fuel Demand for Optical Imaging Devices

“Currently, optical imaging devices such as HIS, OCT, NIRS, and PAT find application across treatment modalities for dentistry, ophthalmology, cardiology, and dermatology,” said a lead TMR analyst. The rising aging population will also create opportunities for the optical imaging market as the risk of chronic ailments increases with the increasing age. “Since geriatric population are more prone to dental and visual problems, and cardiovascular diseases, they make a key consumer segment in the global optical imaging market,” observes the TMR report’s author.

Besides this, the market is also expected to gain impetus from the increasing adoption of optical imaging technologies across diverse applications.

Absence of Well-defined Reimbursement Restrains the Market’s Growth

Despite witness positive opportunities worldwide, the lack of proper reimbursement facilities is inhibiting the growth of optical imaging modalities, particularly in developing countries. A majority of the optical imaging technologies available in the market are novel techniques and are thus not included within the reimbursement policies prevalent in developing nations. Due to this, in emerging economies such as India, Mexico, China, and Brazil, which are highly price-sensitive, only a limited penetration of optical imaging modalities is noted. The lack of well-defined reimbursement policies are proving restraint for the market’s penetration across these countries.

Besides this, the lack of clinical data validation is also creating bottlenecks for the market. For instance, there is inadequate data authenticating the use of the Fourier-domain OCT to identify disease progression in glaucoma patients. This may restrain the adoption of OCT across the world.

Application across Diverse Segment to Boost Market’s Growth in Forthcoming Years

Optical imaging is gradually finding applications across oncology, ophthalmology, internal medicine, gastroenterology, gynecology, cardiology, in vivo imaging, dentistry and urology. The technology enables superior tissue penetration with high image resolution. These intrinsic benefits of optical imaging will help key players mitigate the aforementioned concerns in the forthcoming years.

Furthermore, the market is also expected to gain impetus from the presence of the large unmet needs of population residing in emerging economies.

This review is based on the findings published by TMR in a report, titled “Optical Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.”