Medical Devices

Tuesday, 27 October 2015

Biomedical Refrigerators and Freezers Market - Industry Research Report, 2014 - 2022

Healthcare agencies are laying greater emphasis on appropriate storage and handling of biomedical samples and drugs. This has necessitated the use of biomedical refrigerators and freezers – a special class of medical equipment that helps store enzymes, drugs, vaccines, biomedical samples, blood products and biopharmaceuticals at precisely-controlled temperatures. The growing demand for such equipment from hospitals, diagnostics labs, research laboratories, and blood banks has led to the expansion of the global biomedical refrigerators and freezers market. Until a few years ago, the demand for biomedical refrigerators and freezers came from the traditional markets. But this situation has long changed with the breakneck speed at which the healthcare industry is growing in developing and emerging countries.

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In the Near Future, Research Laboratories Will Create Highest Demand for Biomedical Refrigerators and Freezers

On the basis of application, analysis from 2013 shows that blood banks accounted for the leading share of the biomedical refrigerators and freezers market. This was due to the use of high-cost biomedical freezers and refrigerators in these facilities. Between 2014 and 2022, the fastest CAGR will be reported by the research laboratories segment at 5.2%.

From the geographical standpoint, North America has traditionally been the leader in the biomedical refrigerators and freezers market. In the United States, the value of the biomedical refrigerators and freezers market was pegged at US$1,215.99 million as of 2013 making it the largest market within North America. However, companies looking to expand globally are now venturing enthusiastically into the Asia Pacific region because of the relatively friendly regulatory environment here. This will lead the APAC biomedical refrigerators and freezers market to exhibit the fastest CAGR to 2022.

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Penetration of Biological Drugs Bodes Well for Biomedical Refrigerators and Freezers Market; High Costs Seen as Growth Hindrance

With increased funding from various sources, research and development activities in the pharmaceutical and life sciences sectors have seen an upswing. Such activities almost invariably call for the use of biomedical refrigerators and freezers. In addition, there are a number of other factors driving the growth of the biomedical refrigerators and freezers market. The most important one among these is the increased availability of biopharmaceuticals or biological drugs. These drugs need to be stored within a certain temperature range to keep their properties intact. The other factors that have brought about the expansion of the global biomedical refrigerators and freezers market are: Increasing aging population, favorable healthcare programs by governments, and greater technological innovation.

Despite a marked increase in the number of biomedical refrigerators and freezers shipped worldwide, products offered by international companies still carry a relatively high price tag. This has deterred consumers from investing heavily in biomedical freezers or refrigerators. As an affordable alternative, consumers (especially in cost-sensitive markets) typically opt for refurbished biomedical refrigerators and freezers.

Plasma Freezers Occupy Largest Market Share; Analysts Expect Medical Freezers to See Augmented Demand

An analysis of the market shows that as of 2013, the plasma freezers segment was the largest (31%) in the global biomedical refrigerators and freezers market. This demand for plasma freezers is high because the demand for both blood component and fresh frozen plasma storage is witnessing an upswing. There has also been a notable rise in apheresis procedures conducted worldwide, which will contribute positively to the growth of the biomedical refrigerators and freezers market. The highest demand for plasma freezers is expected to stem from blood banks, hospitals, and research laboratories. With several new diagnostic centers and medical facilities now dotting the healthcare industry’s landscape, heightened demand for medical/laboratory/pharmacy freezers is expected.

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Rising Prevalence of Needlestick Injuries Drive Demand for Acute Care Needleless Connectors: Market to Expand at 10.20% CAGR between 2014 and 2020

High incidence of cancer, diabetes, and chronic pains drives the global market for acute care needleless connectors. Much of the demand for acute care needleless connectors also comes from the growing geriatric population and high incidence of needlestick injuries. The intravenous administration of fluids makes use of syringes, administration sets, and the conventional needle based IV catheters. But the problem with needle based IV systems is that it leads to needlestick injuries to most healthcare workers, which in turn increases the incidence of infections that are blood borne. In order to ensure the safety of healthcare workers, needleless connectors were first introduced in the 1980s. Thus, there was a dramatic decline in the incidence of needlestick injuries in the subsequent years. Later on it was observed that catheter related blood stream infections had increased because of needleless connectors. Several mechanisms and designs have been introduced in order to reduce the problems associated with catheters and needleless connectors.

The global acute care needleless connectors market is projected to expand at 10.2% CAGR from 2014 to 2020, thereby reaching US$972 million by the end of the forecast period.

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Seven-day Needleless Connectors Market to Witness Robust Growth in the Forthcoming Years

The global acute care needleless connectors market is segmented on the basis of type of design, mechanism, dwell time, and geography. Based on design type, this market is categorized into complex needleless connectors and simple needleless connectors. The segment for complex needleless connectors was the fastest growing segment in 2013.

On the basis of mechanism, the global acute care needleless connectors market is segmented into neutral fluid displacement, negative fluid displacement, and positive fluid displacement. In 2013, the segment for positive fluid displacement held the largest share of the global market because of the low costs of positive fluid displacement needleless connectors that are available commercially.

Based on dwell time, the global acute care needleless connectors market is categorized into other than seven-day needleless connectors, and seven-day needleless connectors. It is anticipated that the seven-day needleless connectors segment will expand robustly during the forecast period.

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Expansion of Regional Markets to Drive the Asia Pacific Acute Care Needleless Connectors Market

Geographically, the global acute care needleless connectors market is segmented into Asia Pacific, North America, Europe, and Rest of the World. The global acute care needleless connectors market is dominated by North America owing to factors such as a rapidly growing geriatric population in this region, high quality healthcare infrastructure, and widespread awareness amongst healthcare professionals.

It is however, the Asia Pacific market that will expand substantially in the forthcoming years. Factors that propel the Asia Pacific acute care needleless connectors market are growing number of healthcare facilities and hospitals, high incidence of chronic ailments, and most importantly expansion of regional markets such as Australia, Southeast Asia, China, and India.

The prominent companies operating in the global acute care needleless connectors market are Vygon SA, RyMed Technologies LLC, Nexus Medical LLC, ICU Medical Inc., CareFusion Corporation, Becton Dickinson and Company, B. Braun Melsungen AG, and Baxter International Inc. High incidence of cases of catheter related blood stream infections hampers the growth of the global acute care needleless connectors market. Steep cost of branded products as against the domestic substitutes and local products is another factor restraining the market. High investments in a few of the emerging economies is likely to create lucrative growth opportunities in the global acute care needleless connectors market.

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Global Tissue Engineered Skin Substitutes Market expected to reach USD 3.8 Billion in 2023

Tissue engineering is a sophisticated yet promising treatment option for the treatment of skin diseases and disorders. Tissue engineering entails the development of biological substitutes to restore damaged tissue or maintain tissue function via the use of both cellular and acellular materials. It thus calls for close collaboration between cell biologists, geneticists, clinicians, and other experts. With skin disorders and diseases on the rise, coupled with the booming medical tourism industry, the prospects of the tissue engineered skin substitutes market look promising.

The global tissue engineered skin substitutes market is on the brink of explosive growth over the next few years as more advances in the field are made. The fact that the tissue engineered skin substitutes market will grow at 17.2% CAGR between 2015 and 2023 also speaks volumes about the high degree of innovation that prevails in the market. According to Transparency Market Research, tissue engineered skin substitutes constituted a US$958.8 mn market. The market is expected to surge to US$3.8 bn by 2023. Acellular tissue engineered skin substitutes are more popular than cellular substitutes because of the comparatively attractive price that the former boast.

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Use of Tissue Engineered Skin Substitutes was Highest for Diabetic Ulcers in 2014

The WHO predicting that diabetes will be the 7th leading cause of death by 2030 is indicative of the pandemic proportions this disease has attained. An alarming 25.0% of diabetics are diagnosed with diabetes-related ulcers, said the International Diabetes Federation in 2014. These ulcers can take months on end to heal even when great precautions are taken. In the case of acute

For patients suffering from acute diabetic ulcers, skin substitutes are, in most cases, the only available option if they are to prevent their quality of life from being compromised. As a result of this, the demand for tissue engineered skin substitutes will continue to remain high from patients suffering from diabetic ulcers.

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Tissue Engineered Skin Substitutes Market Currently Concentrated in North America

The availability of a wide variety of tissue engineered skin substitutes is in itself the key factor responsible for keeping North America at the top of the global market. This wide choice of products on its part can be ascribed to the high prevalence of diabetes in North America. Besides diabetes, deep vein thrombosis (DVT) continues to impose an increasing burden on healthcare agencies in the U.S. The Centers for Disease Control and Prevention (CDC), in its report published in March 2015, says that about 900,000 people in the United States are diagnosed with DVT per year. Ulcers and lesions resulting from DVT are contributing to the demand for tissue engineered skin substitutes in North America.

However, when it comes to lifestyle-related diseases, the Asia Pacific is inching closer to North America owing largely to the increasing affluence in countries in the former. Moreover, a sizeable aging population base in countries such as Japan, Singapore, and China put persons in this age group at a higher risk of diabetes and DVT. Thus, the investment potential of Asia Pacific will only continue to rise over the next few years.

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Spinal Implants and Surgical Devices Market - Global Industry Analysis, and Forecast 2012 - 2018

Most of the spinal conditions/disorders do not need surgeries but there are times when they cannot be avoided. In such surgical processes, specially designed spinal instruments are used to correct deformities, strengthen and stabilize the spine and facilitate fusion. Most of the spinal implants are generally made of metals such as stainless steel or titanium-alloy, whereas some are made of non-metallic compounds. This market is expected to have a moderate growth rate primarily due to increase in aging population coupled with number of patients suffering from chronic back pain, increased awareness resulting into adoption of newer and improved technologies by surgeons and patients and last but not the least advancement in technology. However, price concerns and unstable reimbursement policies are expected to restrain the growth of the market to a certain extent.

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The market is segmented on the basis of technology used such as fusion, spine biologics, non-fusion, products intended for vertebral compression fracture and spinal decompression. Each segment is divided into different categories for further cross sectional analysis. North America is one of the geographies that still continue to occupy a larger share of the market followed by Europe. On the other hand Asian countries represent faster growing regional markets, mainly due to the improving reimbursement policies, large population, growing awareness about new technologies and increased purchasing power of hospitals.

Some of the major players profiled in this report include Medtronic, Stryker Corporation, Pioneer Surgical, NuVasive, DePuy Spine, Globus Medical, K2M, Orthofix International, TranS1, Amedica, Zimmer, LDR Holdings, Biomet Spine, Exactech, Integra LifeSciences, Alphatec Spine, Orthovita and Synthes etc.

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Hospital Acquired Disease Testing Market - Market Research Report, 2013 - 2019

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When a patient is hospitalized, their families expect them to get adequate treatment and healthcare facilities. However, the increasing morbidity rate of nosocomial infections presents a completely different picture altogether. Since hospitals are filled with sick people, the chances of getting an infection can drastically increase if proper hygiene is not maintained. Hospital authorities understand and acknowledge the seriousness of the problem. Hence, to combat the rising incidence of hospital acquired diseases, authorities have taken recourse to appropriate testing and diagnostic procedures that can help with the treatment and prevention of the disease.

High Neonatal and Geriatric Population to Drive Global Hospital Acquired Disease Testing Market

High neonatal population in developing countries and increasing geriatric population worldwide are the major factors impacting for global hospital acquired disease testing market. In addition, patients with weak immune system and those exposed to inadequate healthcare conditions are also highly vulnerable to nosocomial infections. Getting in contact with nosocomial infection prolongs the hospital stay of patients, which unduly increases the cost to the patients. To counter the growing prevalence of hospital acquired diseases, many diagnostic tests are introduced in the market, though approximately 70% of the pathogens spreading such infections have become resistant to at least one type of anti-bacterial drug commonly used in nosocomial infection treatment. This has further intensified the challenge for healthcare professionals.

As a potent solution, the healthcare industry has developed a microorganism-specific detection test, which at present is highly in demand from healthcare professionals worldwide for better assessment of disease. Some of the major techniques used in the market today for nosocomial infection diagnosis are PCR, molecular diagnostics, solid phase hybridization, and microarrays. The development of NAT or nucleic acid testing diagnostic products for accurate diagnosis of hospital acquired diseases has paved the way for several players to enter the market.

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Hospital Acquired Disease Testing Market to Grow at 19.3% CAGR

According to a research report by Transparency Market Research, the global hospital acquired disease testing market was valued at US$2.2 billion in 2012 and is projected to be worth US$7.5 billion by 2019. If these estimates by research analysts are justified, the hospital acquired disease testing market is likely to grow at a strong CAGR of 19.3% between 2013 and 2019.

To reduce the high incidence of hospital acquired infections, governments across developed countries such as the U.S., Australia, and Canada, and major economies of Europe have acted to control and prevent the prevalence of nosocomial infections through several inspective and in-house initiatives. Authorities such as the CDC (Centers for Disease Control and Prevention) in the U.S. and National Health and Medical Research Council in Australia have designed rules and recommendation for hospitals and other healthcare institution to manage the numerous types of nosocomial infections.

Asia Pacific to Emerge as a Lucrative Market for HAI Diagnostics

Diagnostic methods such as quantitative PCR, blood culture tests, wound culture, tissue biopsy, and latex agglutination are performed most commonly to diagnose nosocomial infections. HAI diagnostics contributes to 64% of the total molecular diagnostic market. Advent of contemporary diagnostic tools with reduced turnaround time and greater accuracy will further propel the HAI testing market. Asia Pacific is the most lucrative market for HAI testing owing to the high incidence of hospital acquired diseases in countries such as India and China. Geographically, North America dominates the global market for hospital acquired disease testing market at present.

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Thursday, 15 October 2015

Electrical Stimulation Devices (ESDs) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

According to a new market report published by Transparency Market Research “Electrical Stimulation Devices (ESDs) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023”, the global electrical stimulation devices market was valued at USD 3.8 billion in 2014 and is projected to expand at a CAGR of 6.0% from 2015 to 2023 to reach USD 6.5 billion in 2023.

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Currently, electrical stimulation devices are used as an effective way to treat muscle weakening, in condition where body muscles has been affected by a neurological disorder (e.g. an injury or hemiplegia). Rise in incidence of low back pain and spinal injuries and increasing usage of ESDs in sports medicine has triggered the demand for ESDs globally. In terms of regional classification, the global electrical stimulation devices market has been segmented into five major markets: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

In terms of revenue, North America was the largest regional market for electrical stimulation devices, and accounted for a share of over 40% of the global market in 2014. Dominance of North America has been attributed to increasing aging population, highly structured health care industry, and availability of well-defined reimbursement policies from public and private health insurance firms. Additionally, according to the University of Maryland Medical Center (UMMC), approximately 60% to 80% adult population in the U.S. suffers from low-back pain and more than 13 million people visit a clinician for chronic back pain. Thus, the expanding patient base and positive product approvals are cumulatively analyzed to boost the market growth in this region.

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Europe was the second largest market for electrical stimulation devices in terms of revenue in 2014. Major countries such as Germany, the U.K., and France accounted for a majority share of the European market. Factors attributed to the rapid growth of the electrical stimulation devices market in Europe are increasing introduction of innovative products by top market players along with rising incidence of chronic back pain and diseases such as diabetes, injuries sustained from traffic-accidents, sports injuries, and occupational injuries are some of the key factors fueling the growth of the electrical stimulation devices market in Europe.

Asia Pacific was the third largest market for electrical stimulation devices market in 2014, and is anticipated to grow at the highest CAGR during the forecast period. Certain factors such as, large pool of aged individuals and perpetual addition to the same, implementation of government initiatives aimed at improving health care access, and growing health care expenditure would drive the growth of the market in Asia Pacific. In addition, presence of large medical device sector in the developing regions of Asia Pacific would contribute towards the growth of electrical stimulation devices market. Asia Pacific was followed by Latin America (Brazil and Rest of Latin America) and Middle East & Africa (South Africa and Rest of MEA) in terms of market revenue.

Boston Scientific Corporation, BTL Industries, Inc., Cyberonics, Inc., DJO Global, EnteroMedics Inc., Medtronic plc, Nevro Corp., NeuroMetrix, Inc., St. Jude Medical, Inc., Uroplasty, Inc. (Cogentix Medical), and Zynex, Inc. are the major players operating in the global electrical stimulation devices market. Among these, Medtronic plc, Boston Scientific Corporation, and St. Jude Medical, Inc. are the market leaders.

The global electrical stimulation devices market has been segmented as follows:

Electrical Stimulation Devices Market, by Device Type
Spinal Cord Stimulation (SCS) Devices
Deep Brain Stimulation (DBS) Devices
Vagus Nerve Stimulation (VNS) Devices
Sacral Nerve Stimulation (SNS) Devices
Gastric Electric Stimulation (GES) Devices
Transcutaneous electrical nerve stimulation (TENS) Devices
Neuromuscular Electrical Stimulation (NMES/EMS) Devices
Other Electrical Stimulation Devices (Electrotherapy Devices, Combination Devices, TNS, TMS, etc.)
Electrical Stimulation Devices Market, by Application
Pain Management
Neurological and Movement Disorder Management
Musculoskeletal Disorder Management
Metabolism & GIT Management (Stomach, Intestine, Pancreas, Digestion, Blood Pressure, Nausea, Vomiting, Gastroparesis, etc.)
Incontinence Management (Fecal Incontinence, Urinary Incontinence, Urinary Retention)
Others (Aesthetics, Training, Cosmetics, etc.)
Electrical Stimulation Devices Market, by Geography
North America
U.S.
Canada
Europe
Germany
France
U.K.
Rest of Europe
Asia Pacific (APAC)
China
Japan
India
Rest of Asia Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa (MEA)
South Africa
Rest of MEA

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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.

Molecular Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

The widening scope of applications of molecular diagnostics will create a US$8.7 bn market by the end of 2019, finds a latest study by Transparency Market Research (TMR). The market intelligence firm, in its report, titled ‘Molecular Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,’ states that the global molecular diagnostics market had a valuation of US$4.3 bn as of 2012. With several factors boosting both awareness of and demand for molecular diagnostics, the market will register a CAGR of 11.1% through the forecast period of the report.

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An uptick in the prevalence of cancer across the world will aid the adoption of molecular diagnostic methods, fuelling the growth of the market for molecular diagnostics. Besides this key factor, an expanding aging population base worldwide calls for the use of various diagnostic techniques in order to treat different diseases and medical conditions. Personalized medicine is emerging as a major trend in the pharmaceutical industry, and this factor will also contribute to the growth of the global molecular diagnostics market. However, the reimbursement scenario in many countries is currently not favorable to the growth of the molecular diagnostics market.

The report identifies two key opportunities: Technological innovation in molecular diagnostics to attain a higher share of the market and tapping unmet needs in the diagnostics market in emerging countries.For the purpose of this study, the global molecular diagnostics market is segmented on the basis of the following criteria: Diagnostic technology, applications, and geography.

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By technology, the market is segmented into transcription mediated amplification (TMA), polymerase chain reaction (PCR), hybridization (FISH and ISH), microarray, and next-generation sequencing. The demand for next generation sequencing is growing rapidly thanks to the high sensitivity of these tests and their rapid turnaround time coupled with a decline in the prices of next generation sequencing technologies. Although the PCR market stood as the largest in 2012 in the global molecular diagnostics market by technology type, it will decline gradually over the report’s forecast period.

On the basis of applications, the molecular diagnostics market studies infectious disease, genomics, blood donor screening, and others. According to TMR’s report, about 50% of all revenue of the molecular diagnostics market comes from the infectious disease segment. This segment is also poised for healthy growth in the coming years thanks to an alarming increase in the incidence of hospital acquired infections (HAI). This will also boost the growth of the HAI testing market, making it the fastest growing segment in the market for molecular diagnostics for infectious disease. The report pegs the CAGR of the HAI testing market at 15.1% between 2013 and 2019.

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