Monday, 26 December 2016

Global Oral Contraceptive Pills Market to be worth US$22.9 bn by 2023, Increasing Awareness Regarding Benefits of Contraceptive Pills Drives Growth

The opportunity in the global oral contraceptive pills market was reported to be US$13.1 bn in 2014 and is anticipated to be worth US$22.9 bn by 2023, registering a steady CAGR of 6.6% therein.
Oral Contraceptive Pills Market: Snapshot
The highly competitive oral contraceptive pills market is marked by the presence of several generic product manufacturers, most of which resort to price reduction and free samples to sustain in the market. Oral contraceptive pills are the most common form of reversible contraception in most developed economies of the world, such as Western Europe, the U.S., Canada, and Australia. The adoption and prescription pattern for oral contraceptive pills varies by region, price, and level of awareness and companies have been taking these factors into consideration to up their share in the market.
Generic Oral Contraceptive Pills Enjoy Larger Share in Global Market
By type of product, the oral contraceptive pills market has been segmented into progestin-only, combination, and others. The combination oral contraceptive pills segment led the overall market in 2014 and is projected to register the highest growth rate over the course of the forecast period. This growth can be attributed to their higher efficiency in preventing pregnancies, their easy availability, and their rising preference among consumers.
On the basis of category, the market is bifurcated into generic oral contraceptive pills and branded pills. In 2014, generic oral contraceptive pills led the overall market and this segment is projected to record the fastest growth rate by 2023. The growth of this segment can be attributed to the widespread adoption of generic contraceptives facilitated by their low prices and ease of use.
Favorable Reimbursement Policies in U.S. Spur Adoption of Oral Contraceptive Pills in North America
The global contraceptive pills market is geographically segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. North America led the global contraceptive pills market in 2014 primarily owing to a greater incidence of unintended pregnancies in the region. The Centers for Disease Control and Prevention (CDC) states in a study that between 2006 and 2010, a 37% of the total pregnancies in the U.S were unintended. A significant proportion of these pregnancies led to abortions, which resulted in a massive yet preventable healthcare expenditure. In a bid to curb this avoidable healthcare expense, the governments of North American countries are encouraging women to opt for modern and more effective contraceptive options. The enforcement of the Affordable Care Act, or Obamacare, in the U.S. and various awareness programs by non-profit organizations have led to the availability of favorable reimbursement policies and the increased sale of emergency oral contraceptive pills in the region.
Asia Pacific is viewed as one of the most attractive market for oral contraceptive pills in the course of the forecast period thanks to the steady economic development in countries such as Singapore, India, China, Australia, and Philippines. This economic growth has resulted in the increasing disposable income of the people, surging awareness about family planning and contraceptives, and the desire for healthier living. This, in turn, has led to the rising adoption rate of oral contraceptive pills in the region.
The leading players competing in the global oral contraceptive pills market include Bayer AG, Janssen Global Services, LLC, Allergan,plc (Actavis), Teva Pharmaceutical Industries Ltd., Piramal Enterprises Ltd., Pfizer, Inc., Merck & Co., Inc., and Mankind Pharma Ltd.
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Breast Cancer Therapeutics Market: Increased Breast Cancer Risk to Pave Way for Steady Consumption of Breast Cancer Therapeutics

Transparency Market Research forecasts that the global breast cancer therapeutics market is expected to be worth US$16.21 bn by 2023 as compared to US$7.17 bn in 2014, surging at a CAGR of 8.4% between 2015 and 2023. The drastically changing reproductive patterns are also responsible for soaring revenue earnings of the breast cancer therapeutics market. The delayed childbearing age, reduced breastfeeding periods, intake of oral contraceptives, and resorting to hormonal therapies to solve other medical conditions is also contributing towards the growth of this market.
Transparency Market Research states in a new report that the leading players in the global breast cancer therapeutics market will focus on developing companion diagnostics models to fortify their presence. As of 2014, the leading players in the global breast cancer therapeutics market were F.Hoffmann-LaRocheLtd., Astra Zeneca, and Novartis AG, who held a whopping share of 93.6%. Mergers and acquisitions will also shape the trajectory of progress for the players in the overall market. For instance, Novartis took over the oncology drug segment of GlaxoSmithKline in 2015, which will help the company add another 22 drugs including Tykerb to its pipeline.
The lead author of this research report says, “New product launches and investments in clinical testing and trials are also expected to work in the favor of drug breast cancer therapeutics companies to diversify their portfolio and win bigger shares.”
Increased Breast Cancer Risk to Pave Way for Steady Consumption of Breast Cancer Therapeutics
The increasing risk of breast cancer amongst women due to early onset of menopause, growing pool of geriatric women, and lifestyle changes are some of the factors driving the breast cancer therapeutics market. The changes in delayed childbearing, reproductive patterns, reduced breast feeding, excessive intake of oral contraceptive pills, and other estrogen modifying drug therapies are also contributing to the increasing risks of breast cancer amongst women.
The growing problem of obesity is also considered to be a major factor contributing towards rising cases of breast cancer. The fat tissues are known to be major producers of estrogen amongst postmenopausal women. Thus, excess fat and the high prevalence of obesity is indirectly driving the global breast cancer therapeutics market.
The growth of domestic pharmaceutical companies that are making investments to meet the unmet demands of patients by manufacturing generic drugs as several patented drugs reach their patient expiration date are expected to boost the market. Furthermore, this market is also expected to find opportunity in developing companion diagnostic models that are customized for specific patients in accordance with the molecular characteristics of their malignancy.
Entry of Local Manufacturers Could Eat into Revenues of Branded Drugs
However, the entry of local drug manufacturers has intensified the competition in the breast cancer therapeutics market. These manufacturers are offering generic versions of breast cancer drugs, which is severely impacting the market for branded drugs. The exorbitant cost of surgeries, radiation therapy, and chemotherapy also makes it unaffordable for a large number of patients, especially in the developing regions, where healthcare infrastructure is poor. All of these factors are expected to hamper the growth of the breast cancer therapeutics market in the foreseeable future.
Patent Expiry Drives HER2 Inhibitors Segment as Generic Drugs will Become Affordable
Currently, North America holds a sizeable share in the global breast cancer therapeutics market due to supportive insurance schemes. In the coming years, this regional segment will acquire a 36.2% share of the overall market revenue. The significant drug segment in the market will be HER2 inhibitors in the forecast period as patents near expiration dates, giving entry to generic drugs. Thus, this drug segment will expand at a CAGR of 6.2% between 2015 and 2023. Given these positive developments, the opportunity in the overall market is also expected to rise to US$16.21 bn by 2023 from US$7.17 bn in 2014, enabling the market to exhibit a CAGR of 8.4% between 2015 and 2023.
The review of the market is based on a Transparency Market Research report, titled, “Breast Cancer Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.”
Key Takeaways:
  • Changing reproductive patterns to be responsible for the 8.4% CAGR of the breast cancer therapeutics market
  • North America to grab 36.2% share in the overall market revenue with supportive insurance schemes by 2023
  • As patented drugs reach expiration dates they make entry of generic drugs possible
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Need to Modernize Healthcare Services Heightens Demand for Nurse Call Systems, reports TMR

Unlike other nursing technologies that have made great strides over the decades, nurse call systems have largely remained the same since their inception in 1860. However, recent technological advancements have resulted in a leap from primitive nurse call system to sophisticated wireless nurse call system. From its simplistic model that involved a bedside button for the patient to summon the nurse, technology is revolutionizing the way patient care functions to match with the times.
With information and communication technology forming an integral part of healthcare services, nurse call systems have taken a new form and shape for improving the quality of communication between patients and nurses. In particular, technology-driven nurse call systems are of immense significance in the event of an emergency, as explained in a new report by Transparency Market Research. On account of the aforementioned factors, the global nurse call systems market is expected to display a CAGR of 13.90% from 2014 to 2020.
Demand for High-quality Patient Care Necessitates Installation of Nurse Call Systems
“An increasing geriatric population across the world is a major factor driving the global nurse call systems market,” says a TMR analyst. This is because this population is susceptible to illnesses and may require hospitalization for dedicated care. The use of nurse call systems for the geriatric population ensures that the patient can raise an alert at the nurse’s station to deliver timely care. This, in turn, allows healthcare organizations to attain seamless communication and streamline nursing activities.
The increasing budget allocation for healthcare of the elderly population is also significantly contributing to the growth of this market. With an increase in the median age of the global population, several countries are focused on providing improved healthcare. Factors such as increasing dependency ratio and the retirement of baby boomers have necessitated the availability of quality healthcare services for aged population.
The increasing need for effective and responsive healthcare communication is another significant factor driving the global nurse call systems market. This is because nursing staff need to be watchful and responsive to provide high quality of healthcare and to ensure patient safety.
“Government regulations in place for the manufacture and distribution of nurse call systems is major impediment to the growth of this market”, says TMR analyst. As per the recent amends by the International Medical Device Regulators Forum (IMDRF), nurse call systems would be included in the category of medical devices. This necessitates nurse call systems to be clinically audited, regulated, and certified.
The IMDRF amend also requires that the software within medical devices need to satisfy medical grade ISO 9000 quality control specifications.
Hospitals Represent Largest End-use Segment
The global nurse call systems market is expected to be worth US$1.57 bn by 2020. Nurse call integrated communication systems is the leading segment of the market on the basis of equipment type; the segment held almost 75% of the overall market in 2013. Nurse call mobile systems equipment type is expected to display significant demand in the foreseeable years. Wired nurse call communication equipment is the largest segment of the market on the basis of communication technology. Hospitals is the largest end-use segment of the nurse call systems market.
The information presented in this review is based on a Transparency Market Research report, titled “Nurse Call Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.”
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Steam Autoclave Market will expand at a healthy 5.7% CAGR over the period between 2016 and 2024

Transparency Market Research suggests that the global steam autoclave market will expand at a healthy 5.7% CAGR over the period between 2016 and 2024. The market, which had a valuation of US$1.57 bn in 2015, is expected to rise to US$2.57 bn by 2024.
Steam Autoclave Market: Snapshot
The global steam autoclave market is extremely consolidated and intensely competitive. The presence of a very small number of companies commanding a vast share in the global market has rendered the market difficult to penetrate for new companies. Despite this fact, the market presents promising growth opportunities for companies introducing technologically advanced products, a trend evident from the high consumption of products based on E-beam and gamma irradiation technologies in the past few years.
The vast rise in the global demand for steam autoclaves in the past few years can be attributed to the increased prevalence of a number of infectious diseases, a huge surge in surgical procedures, and an alarming rise in the numbers of hospital-acquired infections. Rising demand for improving healthcare services across developing regional markets such as Asia Pacific, owing majorly to rising healthcare expenditures and an expanding base of geriatric population.
Developed Economies to Remain Dominant
North America emerged as the clear leader in the global steam autoclave market in 2015, accounting for a nearly 40% share in the market’s overall revenue. Estimates suggest that in U.S. alone in the region, nearly 5 million endoscopies and about 46.5 million surgeries are undertaken every year. The severity of hospital-acquired infections in the country can be estimated from the fact that nearly 8.3 patients out of every 1,000 patients admitted in New York state hospitals in 2012 acquired hospital-onset Clostridium difficile infections (CDI). The numbers are rising at an alarming pace.
These factors have collectively influenced the increased adoption of effective sanitization practices and devices in healthcare settings in North America. Strict rules aimed at enhanced safety of patients at healthcare facilities is also a major factor influencing the increased adoption of steam autoclaves in Europe, the second-largest steam autoclave regional market in 2015.
Emerging Economies to Present Most Promising Growth Opportunities
The high prevalence of infectious diseases, a vast and alarmingly rising population base of geriatric people in Asia Pacific are expected to help the steam autoclave develop on a promising scale in the region in the next few years. The rising demand for high-quality healthcare services from the increasingly affluent consumer base will stimulate the improvement of healthcare infrastructure in countries such as India, China, and parts of Latin America, further driving the market.
The market for steam autoclave in Asia Pacific is expected to expand at the fastest CAGR of 7.9% CAGR from 2016 to 2024 among other key regional markets. The market in Latin America is expected to exhibit the second-largest CAGR of 6.9% over the same period.
Sales of Traditional Steam Autoclaves Continue to Rise
Of the two key varieties of steam autoclave systems available in the market – traditional steam autoclaves and tabletop steam autoclaves, the segment of traditional steam autoclave is presently leading the global market. The segment accounted for a share of over 91.7% in the global market in 2015 and is projected to expand at the highest CAGR over the forecasting horizon, maintaining its dominance in the near future as well.
The prominence of these product types can be attributed to their extensive usage in almost all major application areas such as pharmaceutical laboratories and medical devices. Additionally, traditional steam autoclaves are also considered highly efficient for sterilizing a large number of medical devices at the same time, making them more practical in large medical setups.
The top three companies, which accounted for a share of over 70% in the global steam autoclave market in 2015, are STERIS, Getinge Group, and Johnson & Johnson. Other prominent vendors in the market include 3M Health Care, Matachana Group, Belimed Group, CISA Group, CISA Group, and SAKURA SI CO., LTD.
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Rising Global Economy Propels Global Operating Room Equipment Market

The global operating room equipment market is expanding at a CAGR of 6.68% within a forecast period from 2015 to 2023. This market will be valued above US$42 bn in 2023, after being recorded around US$24 bn in 2014. A major contribution to this growth rate is made by the movable imaging products segment, which is progressing at a CAGR of 8.20% within the same forecast period.
About 42% of the global operating room equipment market was in the hands of a large number of regional players in 2014, finds Transparency Market Research (TMR) in a new study. This highly fragmented market witnesses a towering presence of about five key players – including Siemens Healthcare, Stryker Corporation, and GE Healthcare – that hold significant shares from the remainder. GE Healthcare, for instance, held close to 19% of the operating room equipment revenues in 2014, which was the single largest in that year.
According to Transparency Market Research, all key players are showing a common trait of heavy investments in research and development in operating room equipment innovations. Successful innovations have allowed these players to maintain major revenue shares for the time being.
Push for Ambulatory Surgical Centers Expected to Propel Operating Room Equipment Demand
Ambulatory surgical centers (ASCs) are a relatively modern approach towards out-patient surgical solutions. They cater specifically to those surgical procedures that do not require a patient to stay overnight in a hospital.
“In the U.S., in 2012, there were more than 5,000 Medicare-approved ASCs, as the Centers of Medicare and Medicaid Services had revealed. There was a rise in 24% for the Medicare payments made to ASCs between 2007 and 2012,” explains a TMR analyst. “This establishes the already set importance of ASCs in developed economies, and the demand for ASCs is only expected to grow even further over the coming years,” she adds. As a result, vendors of operating room equipment are expected to find a high scope of growth in similar regions.
Players Can Look to APAC and LATAM for Bigger Opportunities
High population density and rapidly improving healthcare infrastructure are the two biggest reasons for globally present companies for operating room equipment to find sustainable options in the Asia Pacific and Latin America regions. “This applies especially to India, where the rapid growth of multispecialty hospitals is creating a high demand for hybrid operating rooms. Fortis Healthcare, Wockhardt Hospitals, and Apollo Hospitals, to name a few, are where entrants to Asia Pacific can look to,” says the analyst.
Additionally, the massive presence of an overseas patient pool due to the rise of medical tourism is creating an optimistic scope of growth for both hospitals and operating room equipment sales. In the case of Brazil, Mexico, and other Latin American countries hold a high percentage of unmet medical needs. This gap in supply and demand, coupled with the growing healthcare expenditure through improved disposable incomes of patients will be beneficial for the proliferation of operating room equipment providers in the region.
The above data is collated from a research report released by TMR, titled “Operating Room Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015–2023.”
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Friday, 23 December 2016

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.
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.
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North America Wheelchair Accessible Vehicle Converters Market - Current status and future trends

North America Wheelchair Accessible Vehicle Converters Market: Snapshot
The growth of the North America wheelchair accessible vehicle (WAV) converters market rests significantly on the Americans with Disabilities Act of 1990. Title II of the act establishes specific regulations for public transport and facilities to be equipped with assistive equipment for people using wheelchairs. This has had a positive impact on the usage of wheelchair accessible vehicle converters. Technological advancements in terms of fuel efficiency and the introduction of electric wheelchair accessible vehicles has also increased the adoption rate of wheelchair accessible vehicles.
The North America WAV converters market was valued at US$781.8 mn in 2015 and is expected to reach US$1.9 bn by 2024. If these values hold true, the market is projected to expand at a CAGR of 11.1% during the forecast period.
Full-sized Vehicles Garner Leading Share in North America WAV Converters Market
Based on entry modality, the North America wheelchair accessible vehicle converters market has been segmented into lifts, ramps, and transfer seats. The ramp segment accounted for the leading share of 67.7% by revenue in the North America WAV converters market in 2015, followed by the lifts segment. Owing to the ease of use and accessibility offered by ramps, this segment is expected to witness high adoption throughout the forecast period.
On the basis of vehicle type, the market has been segmented into full-sized vehicles, medium-sized vehicles, and small-sized vehicles. Among these, full-sized vehicles held a share of around 73.0% in 2015 in terms of revenue. Full-sized vehicles offer more space to accommodate wheelchairs and caretakers, owing to which, the demand for the same remains high in the North America market.
Large Population Base of People with Disabilities Driving Adoption across U.S. and Canada
On the basis of country, the U.S. is estimated to account for a whopping 88.3% of the revenue generated by the North America wheelchair accessible vehicle converters market by 2024, exhibiting a strong CAGR of 11.2% over the course of the forecast period. Driven by a large disabled population base and the growing number of initiatives by vehicle converters, the U.S. market is expected to witness an increased adoption of WAVs in the coming years. A rising number of car rental agencies providing WAV services is also expected to boost the U.S. market for wheelchair accessible vehicle converters.
By the size of vehicle, full-sized vehicles accounted for the leading share in the U.S. due to a higher adoption rate. Growth in this segment can also be attributed to a significant push from the supply side as several WAV converters offer a strong vehicle portfolio.
Although Canada accounts for a rather small share in the North America wheelchair accessible vehicle converters market, it is projected to reflect a healthy CAGR of 10.5% through 2024, hinting at the immense potential this market possesses. Growth in the number of people with disabilities in the country is expected to promote the demand for WAVs over the forecast period. According to the Canadian Survey on Disability, in 2012, 81.3% of the disabled population in Canada used assistive devices for mobility.
In Canada, full-sized vehicles hold the dominant share in the wheelchair accessible vehicle converters market owing to large interior space and easy mobility for caregivers. However, an ongoing shift in demand from full-sized vehicles to minivans and medium-sized SUVs among youth is expected to boost the market for medium-sized vehicles over the forecast period.
Some of the major companies operating in the North America wheelchair accessible vehicle converters market are Toyota Motor Sales, U.S.A., Inc., BraunAbility, Freedom Motors USA, Vantage Mobility International, and Mobility Ventures LLC.
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