Medical Devices

Tuesday, 8 December 2015

Increased Mobility for Higher Life Expectancy to Drive Global Orthopedic Devices Market

Rise in the geriatric and obese population worldwide fuels the orthopedic devices market, states Transparency Market Research in its latest report. The 233-page comprehensive research study is titled “Orthopedic Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” and is available for sale on the company website.

Browse the full Orthopedic Devices Market (Hip, Knee, Spine, Shoulder, Elbow, Foot and Ankle, Craniomaxillofacial and Other Extremities) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at http://www.transparencymarketresearch.com/orthopedic-devices-market.html

According to the report, the global orthopedic devices market is estimated to register a modest 4.90% CAGR during the forecast period, growing from a value of US$29.2 bn in 2012 to US$41.2 bn in 2019. While the growing prevalence of osteoarthritis and osteoporosis and rise in sports and road injuries will boost the demand for orthopedic devices, frequent product recalls, economic upheaval, and unfavorable political reforms threaten to impede the global market.

On the basis of anatomical location, the orthopedic devices market is divided into knee, spine, foot and ankle, hip, shoulder, elbow, craniomaxillofacial (CMF), and others. In terms of revenue, the knees segment dominated the orthopedic devices market by anatomical location. However, frequent product recalls have adversely impacted this segment and analysts predict that it will witness a decline in market share by the end of the forecast period. Hip orthopedic devices are anticipated to witness strong growth in the coming years, registering a 5.90% CAGR from 2013 to 2019. This segment is fueled by the rise in geriatric population, increasing cases of hip fractures, and escalating demand for hip replacement surgeries.

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On the basis of orthopedic consumables, the market is segmented into orthopedic staples and orthopedic suture anchors. The latter dominates the overall market, accounting for a whopping 80.0% of the orthopedic consumables market. The suture anchors segment, comprising resorbable suture anchors and metallic suture anchors, is projected to reach a value of US$475 mn by 2019.

On the basis of geography, the global orthopedic devices market is divided into Asia Pacific, North America, Europe, and Rest of the World. Valued at US$11.8 bn in 2012, North America dominates the worldwide market. Driven by the rise in geriatric population, increasing cases of osteoarthritis and obesity, and growing use of bioabsorbable implants, this regional segment is projected to retain its lead throughout the forecast period. Europe is the second largest orthopedic devices market and is propelled by the surging demand for infusion pumps and drug-eluding stents. Rising incidence of obesity and bone-related disorders, surge in population, and rapid industrialization are likely to drive Asia Pacific as the most rapidly expanding orthopedic devices market.

The key players profiled in the orthopedic devices market report are DePuy Synthes, Inc., Smith & Nephew PLC, Biomet, Inc., Globus Medical, Inc., Medtronic, Inc., TriMed, Inc., Integra LifeSciences, aap Implantate AG, Vilex, Inc., Small Bone Innovations, Inc., Orthofix Holdings, Inc., Solana Surgical LLC, Conmed Corporation, Zimmer Holdings, Inc., NuVasive, Inc., Aesculap, Inc., ArthroCare Corporation, Stryker Corporation, Arthrex, Inc., and Wright Medical Technology, Inc.

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Global Orthopedic Devices Market, by Anatomical Location

Hip
Knee
Shoulder
Spine
Elbow
Foot and ankle
Cranio Maxillofacial (CMF)
Others
Global Orthopedic Consumables
Orthopedic suture anchors
Orthopedic staples

Global Orthopedic Devices Market, by Geography

North America
Europe
Asia Pacific
Rest of the World

About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Global Report on Lateral Flow Diagnostic Tests Market

Lateral flow diagnostic tests, which are also known as lateral flow immunology assays, are carried out to detect the presence of a target analyte in human body fluid samples. These medical diagnostic tests are suitable for point of care testing, home testing, and laboratory use.

In the APAC region, the increasing incidence of infectious diseases has been the reason for the rising need for increasing the ease of access of medical diagnostics. For such needs, lateral flow tests are suitable for their ease of use and minimal dependence on the operator for carrying out the test and interpreting the results.

The changing lifestyle of the population of the APAC region, where individuals are shifting preference towards self-care and home diagnostics, is augmenting the demand for lateral flow diagnostic tests for home testing. In addition, several governments in the region are supporting point of care and home testing to lessen the burden on state-led healthcare programs, which in turn is benefitting the APAC lateral flow diagnostic tests market.

Application of Lateral Flow Diagnostics Rising in Hepatitis Testing

The APAC lateral flow diagnostic tests market is divided on the basis of application and region. By application, pregnancy, HIV, syphilis, hepatitis, influenza, malaria, and others (cardiac markers, lung disorders, drug abuse, etc.) are the segments of the lateral flow diagnostic tests market. Amongst all, it is the pregnancy application segment that dominated the market and held 26.4% of the overall market in 2014. Increasing birth rate and ease of use of test kits are the key reasons for the large share of the pregnancy application segment.

However, it is the hepatitis application segment that will exhibit the highest growth rate in the foreseeable years. The increasing prevalence of immunological diseases has been favorable for alternative testing such as point of care and home testing that employ lateral flow diagnostic methodologies. In addition, the ease of use of lateral flow diagnostic test kits, which demands minimal education for both users and regulators, will be favorable for the growth of the hepatitis application segment of the market. The use of lateral flow diagnostics also facilitates easy handling of multiple types of samples that are present in small volumes for hepatitis testing.

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Improving Healthcare System Favorable for Indonesia Lateral Flow Diagnostic Tests Market

Among the regional segments, in 2014, Japan dominated the lateral flow diagnostic tests market in APAC, accounting for 22.05% of the overall market. This is mainly due to consistent advancements in the design and technology of the apparatus and launch of government initiatives to spread awareness about infectious diseases and their remedies. In Japan, the increasing birth rate and rising incidence of life-threatening diseases are the other factors supporting the growth of the lateral flow diagnostic tests market.

Indonesia will be the most lucrative market for lateral flow diagnostic tests and will exhibit the highest growth rate of 9.20% from 2015 to 2023. In Indonesia, increasing population, rising health awareness, and an improved healthcare system are the reasons for the high growth rate of the regional segment.

Some major companies that operate in the APAC lateral flow diagnostic tests market are Alere Inc., Becton, bioMérieux SA, EMD Millipore, Siemens Healthcare, Beckham Coulter Inc., Dickinson and Company, Bio-Rad Laboratories, Hoffmann-La Roche Ltd., and QIAGEN.

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Monday, 7 December 2015

Forecasts of growth in the Medical Transcription Services Market

The global medical transcription services market was worth US$41.4 bn in 2012 and by 2019, the market will be worth US$60.6 bn. The global medical transcription services market will grow by billions in the coming few years, as medical transcription services have become an integral part of many medical institutions and are increasingly being adopted by many hospitals and clinics. As medical transcription (MT) services convert dictation of a healthcare professional into electronic text, these services have made data more accessible and retrievable.

In addition to this, the volume and quality of healthcare documentation around the world have significantly improved due to the usage of medical transcription. Medical transcription services are thus helping improve healthcare output and patient care in developed and emerging economies.

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3 Key Drivers of Global MT Services Market: Automation, Standards, and Portability

The global medical transcription services market will expand at a 5.60% CAGR during the forecast period from 2013 to 2019. The global medical transcription services market will benefit from the growth in healthcare automation. Healthcare automation is also driving speech technology. Although this technology has yet to find its niche in the global healthcare market, it has helped automate processes and save substantial costs.

Besides automation, the global medical transcription services market is driven by the rising emphasis on using standard reporting styles. Increasing assurance of patient record portability will also fuel the global medical transcription services market.

On the other hand, the global medical transcription services market is suppressed by poor dictation practices. For example, often, dictation is performed with others in the room, making it difficult for medical transcription devices to decipher one voice from others in the background.

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2 Key Segments of Global MT Services Market: Asia Pacific and North America

Broadly, the global medical transcription services market is segmented on the basis of service type, mode of procurement, and region.

By service type, the global medical transcription services market is divided into consultation reports (CONSULTS), operative note or report (OP), discharge summary (DS), history and physical report (H&P), and others (pathology report and radiology report). The CONSULT segment is leading the global medical transcription services market and is projected to expand at a 3.30% CAGR during the forecasting horizon.

By procurement, the global medical transcription services market is classified into offshoring, outsourcing, and both. In 2012, the outsourcing segment led the market and held a share of 62.2% in the global medical transcription services market.

By region, the global medical transcription services market is segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). North America dominates the global medical transcription services market due to the improved medical services documentation in the U.S. This regional market will expand at a CAGR of 5.0% during the forecast period.

Even though North America is the leading regional market in the global medical transcription services market, Asia Pacific is attracting attention from several companies. Many companies are eyeing the opportunity presented by emerging economies in Asia Pacific due to the increase in healthcare IT initiatives in these countries. Some of the key players operating in the global medical transcription services market are Transcend Services, Superior Global Solutions, Nuance Communications, Acusis, and MModal.

Browse Full Global Medical Transcription Services Market Report With Complete TOC @ http://www.transparencymarketresearch.com/medical-transcription-services.html

About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Negative Pressure Wound Therapy Market to Expand at CAGR of 10.2% due to Increased Awareness on Advanced Wound Care Devices

Negative pressure wound therapy has evolved considerably since its advent in 1997, with advanced functionalities and dressing features being developed to improve the efficiency of the procedure and make it more patient-friendly. The growing demand for portable, compact, and easy-to-use negative pressure wound therapy devices that are convenient for at-home use and have minimum side effects is a major factor driving the global market.

The alarming rise in the global diabetic population has also remarkably fueled the demand for negative pressure wound therapy. According to the American Diabetes Association, nearly 30 million adults and children worldwide are affected by diabetes, 15.0% of which suffer from foot ulcers at some point in time. Ulcers can often result in gangrene and infections and negative pressure wound therapy has emerged as a treatment option for such conditions.

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High Incidence of Chronic Diseases Driving Demand for Negative Pressure Wound Therapy

One of the leading factors propelling the global negative pressure wound therapy market is the growing incidence of chronic diseases such as diabetes, cancer, cardiovascular diseases, neurological disorders, and peripheral vascular diseases, and the rising prevalence of acute and chronic wounds worldwide. Acute long-term illnesses often result in longer hospital stay or bed occupancy, which can lead to increased rate of decubitus ulcers, thereby spurring the demand for negative pressure wound therapy. Apart from this, increase in patient awareness, surge in disposable income and healthcare expenditure, rise in geriatric population, and availability of novel technologies and products have driven the negative pressure wound therapy market.

All of the aforementioned factors are anticipated to boost the global negative pressure wound therapy market to expand at a 10.20% CAGR from 2014 to 2020, growing from a value of US$1.5 bn in 2013 to US$2.9 bn by 2020.

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Rising Investments in Emerging Markets Fueling Growth

North America is the most prominent market for negative pressure wound therapy at the moment, driven by increasing levels of patient awareness, rapidly aging population, growing prevalence of chronic diseases, high percentage of diabetic population, and favorable and supportive reimbursement policies. Europe is also a key market for negative pressure wound therapy, propelled by increased prevalence of chronic wounds and high incidence of transit accidents.

However, emerging economies have been identified as the most lucrative market for negative pressure wound therapy, thanks to rising investments in healthcare and development of novel technologies. Asia Pacific is anticipated to witness the highest growth among other regional markets and this development can be attributed to supportive government policies, strong economic development, increased demand for advanced wound care products, and rise in healthcare expenditure.

On the down side, high cost of advanced wound care devices, unfavorable reimbursement policies in certain countries, and reluctance in adopting technologically advanced devices in some regions are anticipated to restrict the growth of the market.

Realizing the potential of negative pressure wound therapy, the competition within the global market has increased, making room for advanced and more convenient solutions. Some of the leading vendors engaged in the global negative pressure wound therapy market are Devon Medical, Inc., Medela AG, Genadyne Biotechnologies, Inc., ConvaTec, Inc., Kinetic Concepts, Inc., ArjoHuntleigh International AB, Prospera Technologies LLC, Talley Group Limited, Smith & Nephew PLC, and Mölnlycke Health Care AB.

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Global Report on Operating Room Equipment Market

The global operating room equipment market will undergo a dynamic shift due to the ongoing technological transformation. Many major hospitals are rapidly adopting the latest technologies in their infrastructure. Operating rooms are now on the verge of being termed as ‘hybrid operating rooms’ propelled by the R&D efforts. These hybrid rooms are equipped with advanced medical imaging devices that enable minimally-invasive surgery.

Rising Number of Ambulatory Surgical Centers to Drive Global Market

Another key driver of the global operating room equipment market is the rising geriatric population, which that has prompted a rise in the growth rate of the global operating room equipment market. The global operating room equipment market will also benefit from the high demand generated by operating theaters in hospitals. Operating rooms need to be built in a way to facilitate quicker reaction times by surgeons in order to provide improved patient care.

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The global operating room equipment market will also benefit from the growing number of ambulatory surgical centers (ASCs). In 2004, in the U.S., there were only 4,033 Medicare-certified ASCs, while in 2011, there were 5,344 Medicare-certified ASCs, according to beckersasc.com. Healthcare reforms in the ASCs industry will significantly drive the global operating room equipment market. Nevertheless, the high cost of operating room equipment will pose a major hurdle in the growth path of the global operating room equipment market.

Driven by the aforesaid factors, the global operating room equipment market will expand at a 6.20% CAGR during the forecast period from 2013 to 2019, states Transparency Market Research (TMR). In 2012, the global operating room equipment market was worth more than US$2.6 bn and by 2019, the market is projected to be worth more than US$4.0 bn.

Operating Tables Segment to Enjoy Highest Growth in Global Market

By product type, the global operating room equipment market is divided into surgical imaging displays, operating room integration systems, surgical booms, operating room lights, and operating tables. The segment of operating tables dominated the global operating room equipment market. This segment generates 30.60% of the revenue in the global operating room equipment market. In 2012, the operating tables segment was estimated at US$815.5 mn. The segment of operating tables will enjoy the fastest growth rate in the global operating room equipment market due to the rising demand for operating theater integration systems and surgical booms. Hybrid equipment in operating rooms is highly preferred, as it saves significant space and time in terms of easy access to various objects in the room.

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Geography-wise, the global operating room equipment market is segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). In 2012, North America dominated the global operating room equipment market in terms of revenue. North America is leading the global operating room equipment market due to the presence of major players in the U.S. Europe held the second largest share in the global operating room equipment market in 2012, followed by Asia Pacific. The Asia Pacific operating room equipment market is driven by the rapidly growing medical tourism industry, rising penetration by U.S.- and Europe-based equipment manufacturers, and improving healthcare infrastructure in many countries. Nevertheless, it is North America and Europe that are exhibiting the most demand and innovativeness in the global operating room equipment market.

Emerging economies in Latin America and Asia Pacific provide a good growth opportunity to companies in the global operating room equipment market. Some of the most established companies operating in the global operating room equipment market are Stryker Corporation, Steris Corporation, Skytron, LLC, Mizuho OSI, Getinge Group, and Berchtold Corporation.

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Thursday, 3 December 2015

Elderly and Disabled Assistive Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

Among the several factors aiding the growth of the elderly and disabled assistive devices market, the rising geriatric population and increasing incidence of injuries disabling people have played a major role in augmenting the demand for elderly and disabled assertive devices. Hearing impairments or loss of bone density with age or due to any medical condition such as arthritis are common illnesses often faced by elderly people. While medical science has advanced significantly to help address such medical conditions in the elderly population or those disabled due to injury, in many cases only partial remission is possible. Disabled and elderly assistive devices are designed keeping in mind people with such conditions or partial disabilities. Elderly and disabled assistive devices help people suffering from partial hearing impairment, difficulty in reading, or those who need help to take care of their day to day activities. These devices help both the elderly and the disabled, making their daily lives more convenient, comfortable, and independent.

In a recently released study, Transparency Market Research pegs the global elderly and disabled assistive devices market at US$12.3 bn in 2012 and it is expected to reach an estimated valuation of US$19.6 bn by the end of 2019. If these figures hold true, the global elderly and disabled assistive devices market will exhibit a positive 6.90% CAGR between 2013 and 2019.

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Rising Geriatric Population Boosts Global Elderly and Disabled Assistive Devices Market

Among the various assistive devices available in the market, hearing aids accounted for a major share in the global elderly and disabled assistive devices market in 2012. The dominance of the segment is attributed to the escalating number of people suffering from mobility problems or hearing impairments. The World Health Organization (WHO) found that about 5% of the global population suffers from hearing loss every year. Furthermore, the U.S. National Institute of Deafness and Other Communication Disorders states that the risk of hearing loss increases by 10% among the geriatric population as compared to other demographics. In 2010, almost 524 mn people around the world belonged to the geriatric demographic and it is expected that the elderly population will reach 2,000 mn by 2050. This rapid rise in the geriatric population worldwide is a major factor driving the global elderly and disabled assistive devices market. The market segment of mobility aids and ambulatory services, which is a leading segment second only to hearing aids, will also exhibit high growth in the forthcoming years.

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North America Leads Global Elderly and Disabled Assistive Devices Market

Based on the regional distribution of the global elderly and assistive devices market, North America held the largest share in the market in 2012. However, Asia Pacific is expected to exhibit the highest rate of growth in the forthcoming years, at a 6.0% CAGR in the aforementioned forecast period. Favorable government funding and increasing geriatric population in the region is aiding the growth of the elderly and disabled assistive devices market in Asia Pacific. By 2025, Asia Pacific is likely to have 456.3 mn people aged above 65 years. This is a key factor fuelling demand from the Asia Pacific market. In addition, R&D initiatives such as the China Rehabilitation Research Center, which was formed in 1988 by the Chinese and Japanese governments to collaborate on R&D for advanced assistive devices, have also given a boost to the elderly and disabled assistive devices market in Asia Pacific.

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Deep Brain Stimulation Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

The high incidence of neurological disorders such as Alzheimer’s disease, ischemic stroke, trauma, essential tremors, and particularly Parkinson’s disease (PD) is the primary factor boosting the global market for deep brain stimulation devices. In the last couple of years, Parkinson’s disease has emerged as one of the most common and progressive neurological disorders, characterized by tremors due to loss of dopamine-producing neurons, postural instability, akinesia, and bradykinesia. According to reports, Parkinson’s disease is becoming increasingly prevalent in the U.S. The disease is slightly more common in men, but the prevalence of the disease among the female population also seems to be on the rise in recent years. Whilst a therapeutic approach ensuring complete cure of the disease is yet to be discovered, science has made some major improvements in slowing its impact on patients over time.

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What is Deep Brain Stimulation and How Does It Help Treat Patients with Neurological Disorders?

Deep brain stimulation, also known as DBS, is a surgical procedure in which a pacemaker-like device is implanted to send signals to the brain areas that are responsible for body movement. In the surgical process, electrodes are placed at a remote brain location. These are then connected to a stimulator or battery device. A neurostimulator is also placed in the setup, which uses the electric pulses sent by electrodes to regulate brain activities. DBS has achieved much significance in the healthcare industry in the last few years, due to its ability to reduce symptoms such as slowness of movement, tremors, walking problems, and stiffness, which are common in people suffering from movement disorders. Deep brain stimulation has therefore emerged as a viable option for patients suffering from any type of movement disorder, such as Parkinson’s disease or dystonia. A successful DBS procedure allows patients to better manage the symptoms, effectively bring down their medication, and improve the overall quality of their life.

In a recently published market report, Transparency Market Research has forecast that the global deep brain stimulation (DBS) devices market will exhibit a robust CAGR of 11% from 2013 to 2019. If the forecast holds true, the global DBS market, which stood at US$4.5 bn in 2012, will reach US$9.4 bn in 2019.

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High Incidence of Neurological Disorders in Developed Regions to Boost Global Deep Brain Stimulation Devices Market

The global deep brain stimulation market can be segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW), on the basis of geography. Countries such as the U.K, India, Japan, China, Canada, France, China, Italy, Spain, Germany, Australia, Brazil, and the U.S. are the leading markets for deep brain stimulation devices. At present, these countries boast of advanced treatment options for patients suffering from neurological disorders and hence, these countries also represent the most lucrative markets for deep brain stimulation devices. Presently, the majority of surgical interventions include DBS devices and they are also considered a more effective and safer option for treating neurological disorders. The global DBS devices market for treating Parkinson’s disease stood at close to US$1.8 bn in 2013. Among the four major regional markets, North America held the largest share in the global DBS devices market. North America also held the leading position in terms of revenue, with a 43.0% share in the global DBS devices market for PD in 2013.

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