Wednesday, 23 November 2016

Hematological Malignancies Market - Global Industry Analysis, Forecast 2016 - 2024

With the presence of a few but prominent players, such as Celgene, Roche, Novartis, and AbbVie, the global hematological malignancies market demonstrates an intensely competitive landscape. These four players collectively accounted for more than 58% of the overall market in 2015. Currently, they are focusing aggressively on expanding their distribution networks and geographical operations across Asia Pacific, Latin America, and the Middle East and Africa. Researchers expect the leading companies in this market to engage in mergers and acquisitions over the forthcoming years in a bid to bring about product differentiation to combat the competition. 

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As per the report, the global market for hematological malignancies offered an opportunity worth US$27.4 bn in 2015. Rising at a 7.50% CAGR between 2016 and 2024, this market is likely to increase to US$51.9 bn by the end of the forecast period. The prevalence of leukemia has been higher than lymphoma and myeloma. The trend is expected to remain so with the leukemia segment occupying nearly 50% of the overall market for hematological malignancies by 2024. 

North America to Continue to Lead Global Hematological Malignancies Market 

A regional analysis of the worldwide market for hematological malignancies has also been offered in this research report. According to the study, North America, the Middle East and Africa, Latin America, Europe, and Asia Pacific are the main regional markets for hematological malignancies across the world. In 2015, North America acquired the leading position in this market and was closely followed by Europe. The high prevalence of hematological cancers, together with state-of-art diagnostic technologies and increased awareness level of people, propelled the hematological malignancies significantly in both the regions. 

Progressing at a CAGR of 6.80%, North America is likely to retain its leadership over the forecast period. The presence of an advanced healthcare infrastructure is likely to support this regional market to register a steady rise in the near future. Apart from this, the Asia Pacific market for hematological malignancies is also projected to witness strong growth over the next few years, owing to the existing rich pipeline and the imminent launch of targeted therapies during the forecast period, states the research report. 

Technological Advancements in Diagnostic Procedures to Positively Impact Demand 

The sedentary and unhealthy lifestyle of people across the world has exposed them to a number of lifestyle-related diseases, hematological malignancies being a prominent one of them. The National Cancer Institute has stated that hematological cancer is the fifth most common cancer among people, globally, and is likely to record increased prevalence over the next few years. “With the upswing in the cases of hematological malignancies, the demand for their treatment is registering a tremendous rise, leading to a remarkable surge in the global market for hematological malignancies,” says an analyst at TMR. 

In addition to this, the technological advancements in diagnostic procedures and the growing awareness level are projected to encourage people to go for diagnostic tests, which is likely to influence this market substantially in the near future. However, high costs of branded drugs and the absence of favorable reimbursement policies in emerging nations may hamper this market from growing steadily in the years to come, notes the study. 

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Tuesday, 22 November 2016

Biosensors Market to Reach US$21.6 bn by 2020 owing to Growing Need for Monitoring Environmental Pollutants

The global market for biosensors is highly consolidated with five players accounting for 75.2% of the market as of 2013. The five companies are F. Hoffmann-La Roche Ltd., Abbott Point of Care, Inc., LifeScan, Inc., Siemens Healthcare, and Medtronic, Inc. Most of these players constantly innovate and develop technologically advanced and/or improved programs and software to maintain their position in the global market.

These market players also collaborate with pharmaceutical, life science, and medical device companies, and various other organizations through long-term agreements in order to provide innovative biosensor-based devices so as to help them achieve their market potential and experience meteoric growth. For instance, recently, Abbott Laboratories announced a collaboration with the United States Department of Defense (DoD) in order to boost their medical diagnostic sales. The global biosensors market is estimated to expand at a CAGR of 8.1% during the forecast period of 2014 to 2020, reaching a valuation of US$ 21.6 bn by 2020.


Increasing Government Support Driving Demand in Asia Pacific

The report segments the global biosensors market on the basis of technology, application, and geography. Based on technology, the market has been categorized into four major segments: electrochemical, optical, thermal, and piezoelectric. Electrochemical biosensors contributes to the most significant demand, owing to factors such as the increasing prevalence of diabetes and cardiovascular diseases and the growing demand for R&D activities in the field of pharmaceuticals.

Based on application, the global biosensors market is segmented into medical, food toxicity detection, industrial process control, agriculture, environment, and others, which includes bio-defense and drug abuse prevention. The medical application segment is projected to increase at the most robust rate during the forecast period, reaching a valuation of US$16.0 bn by 2020.

Geographically, North America dominates the market for biosensors and is projected to experience a healthy CAGR of 7.2% during the forecast period of 2014 to 2020. However, Asia Pacific is estimated for a stronger growth rate due to factors such as an increasing number of pharmaceutical and biotechnology companies conducting R&D in the region, the presence of a vast population base, and increasing government support.

Rising Diabetic Population Fueling Demand for Biosensors

As per the International Diabetes Federation (IDF), the number of diabetics in the world is projected to reach 642 million by 2040, rising from 415 million in 2015. This can be attributed to the change in lifestyle, as well as malnutrition, genetic mutations, and other factors. Biosensors find frequent application in glucose monitoring devices and diabetes management solutions. Additionally, a large number of medical applications of biosensors and the high demand for the miniaturization of diagnostic devices is fueling the global market for biosensors. Conversely, the report observes that high costs involved in R&D are likely to hinder market growth, along with unfavorable reimbursement policies in several emerging economies.

According to the author of the report, “Diabetes diagnostic devices based on biosensor technology are invasive and could cause discomfort to the patients. Hence, the introduction of non-invasive biosensors is expected to reduce the use of lancets and pinpricks for diabetes monitoring, thereby presenting a major opportunity for players in the global market for biosensors.”

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Thursday, 17 November 2016

Medical Imaging Equipment Market: Cloud Computing Primed to Revolutionize Diagnostic Processes, observes TMR

The global medical imaging equipment market is moderately concentrated with the top four players accounting for a 51.0% share as of 2014. These companies are Philips Healthcare, GE Healthcare, Siemens Healthcare, and CareStream Health, Inc. These players lead the market with wide product portfolios, robust distribution networks, and extensive geographic presence. Most of the major players in the market offer all modalities and are aggressively focusing on emerging markets through collaborations with local imaging providers and offering refurbished equipment in low-income countries.

In the medical imaging equipment market, several structural and functional imaging technologies are relatively new. However, the origin of structural imaging dates back to 1895 when x-ray imaging was developed and still continues to account for a fair share of the market as a segment. Imaging devices such as magnetic resonance imaging (MRI), computed tomography (CT or CAT), and ultrasound have allowed further options for treatment guidance, essentially with very low morbidity. More recently, nuclear imaging equipment such as PET and SPECT scanners have facilitated in achieving tasks in the field of medicine such as location tumors in the brain and heart.

The global medical imaging equipment market was valued at US$27.7 bn in 2014 and is expected to reach US$45.3 bn by 2023, expanding at a CAGR of 5.6% during the forecast period.

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Digital X-ray Systems Contributing to Significant Demand

By product, the x-ray imaging segment accounted for a 29.9% share in the market and is likely to maintain its leadership position during the forecast period from 2015 to 2023 at a healthy CAGR of 4.5%. Factors such as the increasing incidence of diseases diagnosed using this imaging technique (such as oral diseases and orthopedic conditions) and product enhancement and upgrade in the form of device portability are likely to drive the market. Moreover, digital x-ray systems are contributing to the growth of the market in terms of revenue due to a surging demand for these products across the world.

Newer and better imaging technologies such as nuclear imaging and computed tomography (CT) are expected to witness high adoption levels by the end of the forecast period. The markets for these two product categories are projected to expand at a CAGR of 6.1% each during 2015 to 2023.

Geographically, North America dominated the global medical imaging equipment market in 2014. The market in the region is anticipated to reach US$13.5 bn by 2023, expanding at a CAGR of 4.6% during the forecast period. The rising incidence of several diseases such as oral, respiratory, orthopedic, and cardiovascular diseases is propelling the demand for diagnostic imaging equipment.

3D Medical Imaging Opening New Avenues for Manufacturers

According to the report, the growth of this market is expected to be steady owing to various factors such as an increase in government initiatives to make these imaging services affordable for patient population by offering favorable reimbursement policies. In addition, a rise in the incidence of various diseases such as cancer and stroke, an increase in the global geriatric population, and the introduction of technologically advanced products will enhance the growth of this market effectively. The report notes that three-dimensional (3D) medical imaging equipment, which offer greater accuracy and rapid diagnoses are gaining popularity. However, the report remarks that this growth may be hampered due to the low adoption rate by physicians and the imposition of excise duty for the sale of equipment.

According to the author of the report, “Cloud storage services for medical imaging and information management is likely to offer plenty of opportunities to hospitals in terms of better resource and cost management and easy access to medical images and related records in and across organizations and departments. Since cloud storage does not essentially require scrapping of the existing picture archiving and communication system (PACS), imaging manufacturers have an opportunity to improve their revenue stream by providing equipment along with cloud computing services, thus ensuring a reduction in hospital costs.”

Friday, 28 October 2016

Concerns Regarding Increasing Incidence of Needlestick Injuries Supports Growth of Safety Syringes Market, reports TMR

The global safety syringes market is quite fragmented in nature and is led by few players such as Becton, Dickinson & Company, Covidien plc, Smiths Medical, Terumo Corporation, and Retractable Technologies, Inc. These players together constituted a share of over 90% in the market in 2012, on the basis of revenue, as per Transparency Market Research (TMR). The top factor contributing in the increased level of threat from new entrants is the huge development rate of this market, which is supplemented by legislations posed by governments which makes the utilization of safety syringes mandatory and allows consistent development in the injectable drugs market.

The global safety syringes market stood at US$3,419.1 mn in 2012 and is anticipated to reach US$6,496.8 mn by 2019, rising at healthy 9.70% CAGR between 2013 and 2019. Volume wise, this market pegged at 11,699.7 mn units in 2012 and is poised to touch 21,024.5 mn units in 2019, expanding at an 8.80% CAGR from 2013 to 2019. On the basis of product type, the segment of non-retractable safety syringes including syringes with sliding needle covers, sheathing tube syringes, and hinged needle covers hold a dominant share in the market on the basis of volume and revenue. On the other hand, in the forecast period, the segment of retractable safety syringes is poised to exhibit the swiftest growth rate as compared to the segment of non-retractable safety syringes.


Use of Safety Syringes over Traditional Syringes to Boost North America Safety Syringes Market

In terms of geography, in 2012, the North America safety syringes market came up as the most significant market, taking the maximum share in the overall market, on the basis of revenue and volume. This region has been experiencing growth in the utilization of safety syringes over traditionally-utilized syringes. In addition, the market for prefilled syringes is also on the rise in this region due to increasing demand for prefilled syringes having safety features in this region. On the other hand, the region of Europe held the second position in the market in the forecast period on the basis of both volume and revenue.

Increasing Cases of Needlestick Injuries to Bolster Market Growth

Needlestick injuries refer to percutaneous piercing wounds and are caused by tip of needles while disassembling, handling or disposing syringes and needles. Hence, the global safety syringes market is predicted to rise due to the increasing occurrence of needlestick injuries.  In addition, the increasing regulations introduced by governments for the launch of safety-mechanized syringes will provide impetus to the development of the market. This is because of the growing concerns about needlestick injuries and their adverse impacts, resulting in legislations that mandate the utilization of safety syringes by health caregivers, nurses, and physicians.

Furthermore, the ongoing development in the market for injectable drugs will positively impact the development of the global safety syringes market, states a TMR analyst. On the other hand, the huge costs related with the utilization of safety syringes and the increasing penetration of other alternatives in drug delivery methods may negatively impact the growth of this market

“Nonetheless, the increasing advantages related with the use of automatic retractable safety syringes will provide new avenues in the global safety syringes market,” says a TMR analyst.

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

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Wednesday, 26 October 2016

Demand for Dermatology Diagnostic Devices and Therapeutics Market to Rise in Response to Growing Prevalence of Acute Skin Conditions

The global dermatology diagnostic devices market is likely to exhibit a CAGR of 6.9% between 2015 and 2023. The market stood at US$0.6 bn in 2014 and is expected to reach US$1 bn by the end of 2023. The global market for dermatology therapeutics will however show a moderate CAGR of 1.9% during the forecast period. As per TMR, the market is expected to reach US$20.1 bn in 2023, from a valuation of US$17.5 bn in 2014.


Demonstrating the presence of a considerably large number of companies, the vendor landscape in the global market for dermatology diagnostic devices and therapeutics is highly competitive. As per Transparency Market Research, Afga Gevart, Michelson Diagnostic Ltd., and Strata Skin Sciences have emerged as the top players in the dermatology diagnostics devices market. In 2014, these companies together accounted for a share of about 42% in the market. 

Likewise, the leading companies in the global dermatology therapeutics market include AbbVie, Janssen, GSK, Galderma, Valeant, and Novartis. These companies together held approximately 76% of the market with AbbVie accounting for the largest share. “With an aim to gain competitive advantage, major companies in the dermatology therapeutics market are capitalizing on easy availability of products and superior distribution channel,” says a lead analyst at TMR.
 
Demand for Dermatology Devices and Therapeutic to Rise in Response to Increasing Incidence of Skin Diseases 

Growth prospects for the dermatology diagnostic devices and therapeutics market seem quite positive. Due to the increasing incidence of acute skin disorders, demand for dermatology devices and therapeutics is poised to surge at a rapid pace in the forthcoming years. Skin conditions such as acne, psoriasis, eczema, rosacea, pruritus, cell carcinoma, and dermatitis have become increasingly prevalent worldwide, thus necessitating efficient treatment modalities. As per TMR, such skin conditions can occur at any age and presently affects about 30% to 70% of the global population. This creates high demand for dermatology treatment, which translates into intense competition among leading players in the market. Besides this, increasing geriatric population also boosts demand for dermatology diagnostic devices and therapeutics. 

“Despite witnessing favorable growth opportunities, demand for dermatology devices and effective therapeutics is likely to be hampered by the implementation of stringent regulations such as Affordable Care Act,” said an analyst at TMR. Patent expirations also pose major threat to the leading manufacturers of dermatology devices and drugs. Nevertheless, the growing population and the increasing willingness among people to spend on aesthetically enhancing their beauty will keep the demand for dermatology devices and therapeutics high between 2015 and 2023.

North America Presents Most Lucrative Prospects for Dermatology Diagnostic Devices and Therapeutics Market 

Regionally, North America has emerged as the largest market for dermatological diagnostic devices and therapeutics. In the last few years, the number of patients complaining skin diseases such as melanoma, impetigo, and psoriasis has considerably increased in North America. This resulted in high sales of dermatology devices and therapeutics in the region. As per TMR, North America accounted for the dominant share of 43.8% in the global market in 2014. 

Demand for dermatology treatment is also expected to significantly increase in Southeast Asia, as this region witnesses a high prevalence of skin disorders. While Europe has emerged as the second largest market for dermatology diagnostic devices and therapeutics, the market in Asia Pacific is likely to exhibit the fastest growth. 

By product, the demand for imaging equipment is rising at a high pace in the dermatology diagnostics market. The segment held the largest share in the market in 2014. The high price of imaging equipment has helped the segment in gaining lead in the market. However, as per TMR, the demand for high sensitivity imaging equipment is expected to increase at a faster pace in the forecast period. 

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Tuesday, 25 October 2016

Increase in Demand for 3D Medical Imaging Equipment Market by 2023

The players leading the global medical imaging equipment market in 2014 were Philips Healthcare, GE Healthcare, Siemens Healthcare, and CareStream Health, Inc. Collectively, these players held a share of 51% in the overall market in 2014, states Transparency Market Research’s new research report. The report describes the market as highly competitive with only a few players – a scenario that has compounded price wars with each passing year. 

The report states that the opportunity in the global medical imaging equipment market will be worth US$45.30 bn by 2022 as compared to US$27.70 bn in 2013. Between 2015 and 2023, the market is expected to register a steady CAGR of 5.6%.


“Focusing on reducing equipment prices in line with the budget cuts made by entities in the healthcare sector due to lack of funds will lure in more number of consumers,” says the lead author of this research report. Optimizing replaced devices and equipment by shipping them to regions where the healthcare sector is still struggling could also help companies to expand their geographical reach in the coming years.
Investing in emerging economies of India, Brazil and Russia, where there is a dense population of geriatrics and lack of medical facilities, is expected to open up new channels of earning revenues for the global medical imaging equipment market.

Accuracy in Examining Medical Ailments with 3D Imaging Encourages Investments Medical Imaging Equipment

The growing number of imaging modalities that are bringing in new levels of accuracy with 3D visualization have led to an increasing demand for medical imaging equipment in the recent years. Thus, 3D imaging is extensively being used for breast cancer detection, allowing oncologists to understand the intensity of the disease better. On the other hand, the 2D modalities are gaining momentum in emerging countries such as India and China are investments in healthcare infrastructure are rising.

The high incidence of oral, respiratory, cardiovascular, and orthopedic diseases have also augmented the demand for diagnostic equipment in recent years. A range of chronic diseases have generated a massive demand for imaging modalities such as nuclear imaging equipment, magnetic resonance imaging (MRI), and computed tomography (CT) scanners. A high number of tuberculosis patients in the developing countries have also contributed to the growing adoption of technologically advanced medical imaging equipment in various parts of the world.

High Cost of Scans Dents Consumer Interest

The growing pressure to cut down the healthcare budgets, especially across the U.S., has caused a disruption in the dynamics of the overall medical imaging equipment market. Growing awareness amongst physicians about the health hazards of radiation to the patients and to the equipment handlers is also restraining the overall market. Reluctance of patients to opt for CT scans or MRIs due to their high cost has also hampered the market to a considerable extent.

North America leads Global Market with 4.6% CAGR between 2015 and 2023

 X-Ray devices will be the largest product segment in the global market, representing an opportunity worth US$12.34 bn by 2023 as it rises at a CAGR of 4.5% during the forecast period. The revolutionary changes in X-ray technologies and devices will lead the way for this product segment.
TMR expects that North America will retain its dominant position in the global medical imaging equipment market, clocking a steady CAGR of 4.6% between 2015 and 2023. This regional market was valued at US$8.98 bn in 2014 and is expected to reach US$13.50 bn by 2023. Technological advancements, higher adoption rate of medical devices, and supportive healthcare and government infrastructure will also augment the medical imaging equipment market’s growth in North America.
This review is based on Transparency Market Research’s report, titled “Medical Imaging Equipment Market - Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast 2015 - 2023.”

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Monday, 24 October 2016

Veterinary Antiseptics Market in Asia Pacific, Latin America, and Rest of the World to Rise in Value to US$401.6 mn by 2023

The top three players in the Asia Pacific, Latin America, and Rest of the World veterinary antiseptics market are Zoetis Inc., Merial, and Merck Animal Health. Collectively, these companies held a share of 46.3% in 2014. Companies will focus progressively more on developing solutions for the companion animals segment as the growing number of pet owners has created scope for business diversification, says Transparency Market Research (TMR) in a new research report. For instance, developing cosmetic-based antiseptic products such as skin lotions and shampoos will prove to be a game-changing tactic for companies operating in the market. 

The report suggests that the Asia Pacific, Latin America, and Rest of the World veterinary antiseptics market was worth US$243.0 mn in 2014 and will rise steadily to touch US$401.6 mn by 2023. Between 2015 and 2023, the market is expected to progress at a CAGR of 5.6%.

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“Absorbing a talent pool of microbiologists and immunologists by collaborating with institutes will benefit players in the coming years,” observes the lead author of this research report. This will help the companies to gain an insight into not yet recognized conditions, which in turn could prove to be a catalyst in development a preventive veterinary antiseptics. Thus, innovation will be a key sustainable strategy adopted by players to stay ahead of the competition.

Growing Meat Consumption Escalates Demand for Veterinary Antiseptics

The growing demand for meat, milk, eggs, and other protein-rich food items across Latin America and Asia Pacific due to rising disposable income is the primary market driver for the veterinary antiseptics in the overall market. The increasing awareness about fitness has also been fuelling the demand for these antiseptics that ensure that animals reared for consumption are well looked after. Thus, the rising expenditure on animal healthcare is creating a direct impact on the revenues of the veterinary antiseptics market of Asia Pacific, Latin America, and Rest of the World.

The growing adoption of animals in emerging market is also anticipated to drive the veterinary antiseptics market of Asia Pacific, Latin America, and Rest of the World. Pet ownership has considerably made its mark in the veterinary antiseptics market as growing number of pet owners are investing in the high quality of animal care products.

Country-specific Regulatory Guidelines Hamper Overall Market

Country-specific regulatory guidelines, especially in countries such as Japan, have been hampering the growth of this market in the recent years. The long-drawn process of approval, despite the international approval of the product, has restrained the Asia Pacific, Latin America, and Rest of the World veterinary antiseptics market in the recent years. The overall market is also being hampered by the significant dip in the number of veterinarians across emerging economies. Poor career prospects for veterinarians in developing nations of India, China, and Brazil in the past few years is also anticipated to put a downward pressure on sales of veterinary antiseptics as the number of prescriptions will drop.

Asia Pacific Leads Veterinary Antiseptics Market due to Rising Pet Adoption

The market will be led by the iodine and iodophors market at a CAGR of 6.3%. Despite the other types of products, iodine and iodophors are being popularly as they are milder on the skins of both small and large animals.

On the basis of geography, the Asia Pacific, Latin America, and Rest of the World veterinary antiseptics market will witness the veterinary antiseptics market is Asia Pacific rising at a steady CAGR of 6.0% between 2015 and 2023. This growth will be supplemented by the rising number of companion and production animals in the region. By the end of 2023, the Asia Pacific veterinary antiseptics market will contribute revenue worth US$193.6 mn to the overall market.

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