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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Thursday, 20 October 2016

Increasing Number of Cosmetic Surgeries to Keep Cosmetic Implant Market on Growth Track, says TMR

Institut Straumann AG, Nobel Biocare Holding, Inc., and DENTSPLY International, Inc. cumulatively represented more than 49% of the global cosmetics implant market in 2013. Trends in the market are also influenced by other players such as Aesthetic and Reconstructive Technologies (AART) Inc., 3M Health Care, Allergan Inc., Implantech Associates Inc., GC Aesthetics, Mentor Worldwide LLC, Spectrum Designs Medical, Sientra, Inc. and Zimmer Holdings, Inc. In a new report, Transparency Market Research (TMR) states that this highly fragmented market presents a positive scenario for vendors. The increasing number of cosmetic surgeons is acting as a growth enabler for the cosmetic implants market globally.   

A significant cut-down in the price of devices and surgeries can help the growth rate of the market to increase by many folds. Additionally, technological advancements in the devices used can also bolster the growth of the global cosmetic implants market. “The introduction of new products and devices will fuel the growth of the cosmetic implants market,” says the author of the study.

Expensive Surgical Procedures and Implant Malfunctions Hold Back Market Growth

The high cost of surgical devices and procedures impede the growth of the cosmetics implant market. Implant devices comprise approximately 60% of the surgical cost depending upon the type, size, and the manufacturer. At present, these devices do not cater to low-income groups.

Another problem associated with surgical implants is that there is no guaranteed safety. Implant devices such as buttock implants, dental implants, penile implants, breast implants, and facial implants (especially cheek and jaw implants) come with a risk of malfunction. Any malfunction in implant leads to asymmetry, pain, implant rupture, seroma, and implant visibility and extrusion. To put this in perspective, during the post-approval safety studies performed by the U.S. FDA in 2009, Allergan, Inc. reviewed 2,674 breast implant devices, out of which, approximately 900 (33.8%) were reported to have openings in the implant shell. Implant rupture is thus considered one of the restraining factors to the growth of the breast implant market.

Technological Breakthroughs in Surgeries and Devices can Help Global Cosmetic Implant Market Register High Growth

Periodic upgradation of implant devices used in surgeries can lower the chances of malfunction, thus propelling the growth of cosmetic implant market globally. Moreover, technological advancements will open new avenues for the market, as a result, it will cut down the cost of the implant devices. These measures are likely to boost the growth of the global cosmetic implant market.

Polymer Implants to Thrive Due To Raw Material Abundance

“Despite the high-cost devices and surgeries, growth is likely to occur due to rapidly growing awareness about cosmetic surgeries and steadily increasing the number of cosmetic surgeons,” says TMR analyst. The market which was at US$ 2.098 bn in 2013 will register an impressive growth and is expected to reach US$ 3.162 bn in 2020.

By source type, the market has been segmented into polymer implant, ceramics implant, metal implants, and biological implants. The polymer implant is the leading segment due to abundant availability of raw materials and a wide range of applications in surgeries. It is expected to account for 46.9% of the total market by the end of the year 2020. A large part of polymer implants is used in breast implant surgeries, which is the leading and also the fastest growing segment by the application. By revenue, breast implants accounted for US$ 1.113 bn in 2015 and is expected to reach US$ 1.506 bn in 2020.

In terms of geography, Europe, which was leading in 2015 with US$ 809.7 mn, is anticipated to retain its leadership by the end of the year 2020 with US$ 1099.4 mn. However, APAC is expected to register the highest growth rate during the forecast period.

The information presented in this review is based on the findings of a report by Transparency Market Research titled “Cosmetic Implants Market - Global Industry Analysis, Size, Share, Growth, Trends & Forecast, 2014 - 2020.”

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Tuesday, 18 October 2016

Neurology Devices Market Size to Reach US$13.6 Billion by 2019

Transparency Market Research has published a comprehensive research report that explains the global neurology devices market in absolute detail. The research report, titled “Neurology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” closely observes the key trends and dynamics in the global neurology devices market. The report also offers an explanation of the strengths, the weaknesses, the opportunities, and the threats in the market with the help of SWOT analysis. Furthermore, it also evaluates the threat of new entrants, the threat of substitute products or services, the bargaining power of customers, the bargaining power of suppliers, and the intensity of competitive rivalry.According to the research report, the global neurology devices market is expected to be worth US$13.6 bn by the end of 2019, up from US$5.0 bn in 2012, expanding at a CAGR of 15.4% from 2013 to 2019.

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The important factors driving the global neurology devices market are the rising incidence of neurological disorders such multiple sclerosis, Alzheimer's disease, ischemic stroke, brain cancer, and other traumas to the brain. Furthermore, the rising pool of geriatrics is also likely to encourage the global neurology devices market, as they are more susceptible to the aforementioned conditions. Additionally, medical professionals and patients are also opting for neurology devices over drugs, as the former offer a better solution to medical conditions. The factors restraining the growth of this market are the stringent taxation policies in the U.S. and Europe and poor reimbursement policies.

The global neurology devices market is segmented into neurostimulation devices, interventional neurology, CSF management devices, and neurosurgery. Geographically, this market is segmented into Latin America, Asia Pacific, Europe, North America, and Rest of the World. Out of these segments, the neurostimulation devices market segment dominates the overall market and is expected to register a CAGR of 15% during the forecast period. The high incidence of stroke and aneurysms is expected to drive the interventional neurology devices market segment in the near future.

In terms of geography, the neurology devices market in North America was the largest in 2012. However, analysts predict that the Asia Pacific regional market is expected to expand at a CAGR of 18% from 2013 to 2019. This growth will be due to the increasing number of cases of patients suffering from respiratory problems and growing disposable incomes, which make healthcare affordable to them.

Some of the important players in the global neurology devices market are Medtronic, St. Jude, Integra, Boston Scientific, and Covidien. The research report gives an accurate analysis of the competitive landscape in the global neurology devices market and explains the financial overview, research and development activities, investment outlook, strategic mergers and acquisitions, business and marketing strategies, and product portfolio of these key players.

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Monday, 17 October 2016

Ingestible Sensors Market The Future of Medicine Industry from 2024

Ingestible sensors is an innovative technologically advanced product of digital medical industry. Ingestible Sensors are pills that have the ability to detect various bodily functions and activities, medication check, heart rate and blood pressure. It has three components sensors, data recorder, and software. These ingestible sensors help patients receive real-time information and address the unaware issues which are sometimes not answered by doctors. The ingestible sensor works as soon as the sensor enabled pill is consumed. This pill sends signals to the patch, which helps to detect the duration in which the pill was consumed. As the data is recorded, the information is being displayed with the help of linked discover application that can be downloaded on a mobile device. With the help of this application patients can analyze the data and work accordingly, this helps them to decide if there is any need to visit a healthcare provider, taking medication on time and others. The ingestible sensors market is driven by increasing prevalence of chronic conditions and advancement in technology.

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According to the Centers for Disease and Control of Infection, there are more than one-third (36.5%) of U.S. adults that suffer from obesity. Obesity-related conditions comprise of diabetes, heart disease, stroke, certain types of cancer, and some of these are leading causes of preventable death. IN U.S., the incidence rate of chronic conditions such as heart disease, cancer, type 2 diabetes, obesity, arthritis and others are among the most common of all health problems. In 2012, 117 Mn people suffered from one or more chronic health conditions. Moreover due to benefits such as cost-effective products, growing population of immune compromised individuals and others, the physician is prescribing these products. The patient education program is conducted by government and companies for creating the awareness among the general population. However Ingestible sensors market has some restraints such as low adoption for these products may hinder the growth of the Ingestible sensors market.

Increasing sedentary lifestyle among population leading to rising in the incidence of chronic conditions is expected to boost the Ingestible sensors market over the forecast period. Also rising awareness among the general population and rise in disposable income is expected to drive the Ingestible sensors market during the forecast period.

Geographically the Ingestible sensors market is segmented into five key regions: North America, Latin America, Europe, Asia-Pacific and MEA region.

North America followed by Europe is dominating the Ingestible sensors market as a high incidence of gastroparesis cases, and favorable reimbursement options provided by governments and insurance companies which have provided the platform for these products. In Asia Pacific region the Ingestible sensors market is expected to deliver significant growth due to the high pool of geriatric population in this region and growing economy which is expected to further fuel market demand. Moreover, the Ingestible sensors market is expected to become highly competitive due to the potential entrants in the market by the end of forecast period.

Some of the major companies in the Ingestible sensors market are HQ, Inc., Proteus Digital Health, Inc., CapsoVision, Inc., Given Imaging, Ltd., Medimetrics Personalized Drug Delivery B.V., Olympus Corporation, and others. Key strategy used by Proteus Digital Health, Inc is utilizing innovative approach for improving health outcomes for patients and for patients that are facing challenges managing their medications.

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Friday, 14 October 2016

Innovativeness Begets Market Penetration for Wearable Medical Devices Competitors

An Overview of the Global Wearable Medical Devices Market

The primary users of wearable medical devices are patients and athletes. As the technologies advanced and became more cost-effective, these devices began trickling towards fitness enthusiasts and also became commercially available to common consumers for basic fitness and sleep monitoring purposes. Current areas of focus for designers and developers lie largely in aesthetics, along with focus on weight, cost, ergonomics, and waterproofing.

Additionally, players are working to incorporate wireless telecommunications technology to make wearable medical devices ‘smarter’ in their communication with smartphones and other connected electronic devices. Advanced data analytic systems and storage are allowing users to store larger periods of data and apply long term analytics to chalk out their overall progress against chronic diseases, fitness, and physical gains.

The key driver for the growth of wearable medical devices sales for now is the reduction in prices of consumer electronics and wearable technologies. They are rapidly becoming affordable and commercially available to wider economic demographics or income groups. The global wearable medical devices market is progressing at a highly optimistic CAGR of 16.4% from 2013 to 2019.

APAC Wearable Devices Sales Increase with Growing Patient Base with Heart Disease and Diabetes

Asia Pacific is anticipated to be show the fastest growth in wearable medical devices revenue generation in the coming years. Two major factors responsible for this region’s growth rate are the high penetration of a large number of regional players and a growing demand from chronically ill patients. Asia Pacific holds the largest population in the world, along with the largest population of diabetics in the world. Studies have shown that Asians are prone to suffering from Type II diabetes, thereby creating a high need for wearable medical devices that can cater to their needs. Additionally, a growth in health and fitness concerns among individuals, a growth in disposable income, and the large number of regional players choosing to sell mid to low price devices have all contributed to make Asia Pacific the fastest growing region.

The largest share of wearable medical devices revenue – from the regional perspective – was held by North America in 2014. Players in this region enjoy an advanced healthcare system that allows them to focus more on innovations and future developments. North America is expected to remain the largest revenue holder for wearable medical devices till the end of 2023.

Vital Signs Monitors Continue Being Most Sold Wearable Medical Devices

Vital sign monitors are broadly categorized into electrocardiographs, sleep monitors, activity monitors, heart rate monitors, and others. Of these, heart rate monitors have been the most sought-after wearable medical devices, owing to a high rate of patients with heart disease, along with the growing concern over physical wellbeing. Other devices such as sleep monitors are currently showing a rapidly increasing demand owing to a growth in the number of people who experience sleep deprivation and lack of physical activity.

Measuring vital signs has rapidly become a common application of using wearable devices. Whether for fitness tracking or for monitoring the health of the ill, wearable medical devices players have consistently leaned towards manufacturing vital signs monitors. As a result, this market segment has enjoyed a high rate of innovative efforts to make the products lighter, smaller, cheaper, and more aesthetic. Although this segment is not the fastest-growing one, it is the largest in terms of revenue generated and will continue to be the largest till 2023. Key manufacturers of wearable medical devices include Cleveland Medical Devices, Inc., Fitbit, Inc., Intelesens Ltd., and OMRON Corporation.

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Thursday, 13 October 2016

Temperature Probe Market Global Analysis and Opportunity 2016 to 2024

Temperature probes are used to measure the amount of coldness and heat energy, generated by a system. These sensors help in detecting physical change to the temperature producing digital output. Furthermore, temperature sensors are mainly used in sectors including healthcare, food & beverage, automotive and consumer electronics, defense industry. They have proved to be essential in serving the growing demand for advance automation in the  

Temperature sensors are used in various industrial applications, which need process control with high accuracy. These probes are mainly used for sensitive processes, which need controlled process environments for example in chemical mixing, monitoring. Industrial processes which frequently requires to test and measure equipment’s temperature and volume, also use temperature probes on large scale. For example, clinical research processes have highly controlled manufacturing environments.

These probes play important role in manufacturing, handling, storing of medical equipment’s and drugs, as they maintain basic overall performance by monitoring temperature. The current developments in healthcare sensing probes are responsible for increase in the trend of continuous patient monitoring. As a result it can reduce overall healthcare costs and help to improve treatment outcomes. These medical sensors are capable of monitoring of vital signs, for example patients temperature and blood pressure that are directly recorded in the electronic format. It also reduces sloppy management of patient records and providing the user with the latest information. Currently consumer healthcare is amongst the major fields which holds a promising future for sensors with a fastest growth rate than all other applications.

The escalating burden of chronic disorders as well as, the worldwide, surging population count has consequently propelled the demand for these equipment’s. Chronically ill patients and the large elderly population subset form the target population for the sensor-based devices as it is imperative for them to undergo routine checkups; thus, facilitating remote and point-of-care patient monitoring. Besides this, increased adoption rate of surveillance and checkup devices are further driving the temperature sensors market. In addition, factors such as strict government guidelines to ensure environmental safety and ongoing demand for electronic products and computing peripherals have kept the prospects of the market high.

The raw material used for manufacturing plays a crucial role in sensor efficiency and durability. Use of new raw materials such as lithium-niobate and langasite has increased the measurement ranges of temperature sensors. However, silicon based sensors are primarily used owing to their availability and low cost as they are produced in bulk. Multisensors are increasingly used for mass applications owing to their stability which, is expected to drive overall temperature sensors market growth. Technical developments and advent of Micro-Electro-Mechanical Systems (MEMS) are likely to create greater opportunities.

The home healthcare category such as pregnancy kits and glucose monitoring kits is anticipated to witness lucrative growth over the years. The cost of diagnosis in hospitals and other healthcare units is high; hence, the preference of home healthcare equipment’s, such as diagnostic kits, over hospitals is observed to be rising. The high-unmet needs of the huge target population are expected to further open avenues for the market players in the industry. However, dominance of legacy technologies and awareness of end-users have hampered the market growth. Quality, accuracy of temperature probes and raw material used for manufacturing has hampered the market.

Geographically, the market is segmented into six major regions: North America, Europe, Asia-Pacific, Latin America, Middle East and Rest of the World (RoW). In terms of geography, North America followed by Europe account for the largest market share for because of availability of sophisticated primary, secondary, and tertiary-care healthcare settings supported the market. Moreover, the well-established reimbursement network, suitable government funding, and the increasing health awareness further facilitates the incorporation of the sensors in the medical devices.
The Asia Pacific region is anticipated to witness a remunerative growth over the next few years. This can be attributed to the heightened number of individuals suffering from chronic disorders, such as diabetes, hypertension, and respiratory problems.

The key market players active in the temperature sensor market are Analog Devices Inc., Maxim Integrated, Measurement Specialties Inc., Microchip Technology Inc., Honeywell International Inc., NXP Semiconductors, STMicroelectronics, Panasonic Corporation, Texas Instruments and Siemens AG.

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Wednesday, 5 October 2016

Mobile Medical Apps Market to Grow due to Easy Integration of Mobile Medical Apps in Clinical Workflows

A new market research report from Transparency Market Research, titled “Mobile Medical Apps Market - Global Industry Analysis, Size, Share & Forecast 2015 – 2023,” is designed to present the key market forces responsible for fuelling and restraining the growth of the market, and to present the current condition along with the technological development in the market in the coming years. The report also presents the prime competitors and the business strategies adopted by them for better market penetration. The report also offers SWOT analysis of the prime market segments. Moving further, the report also helps in understanding the prime product segments as well as the competitive landscape of the market.

As per the report, mobile medical apps are majorly designed for healthcare professionals and is fuelled by the increasing adoption of mobile computing amongst caregivers for improving the speed and accuracy of the treatment and diagnosis. In addition, the steady mobile revolution within healthcare is also stimulating the market for mobile medical apps.

As per the report, the increasing preference for mobile apps amongst physicians is owing to the fact that these applications can be integrated easily within clinical workflows and can also be run on a broad range of mobile OS platforms. On the other hand, as per the report, at present, the growth of mobile medical applications is sluggish in comparison with other mobile phone applications. However, as per this research study, mobile medical apps are predicted to grow exponentially in forthcoming years owing to the rising dependence on medical applications for monitoring patient health. 

The report segments the mobile medical apps market in terms of product and application.

As per the report, in terms of product, the market for mobile medical apps is segmented into Medscape Mobile, Epocrates, Nursing Central, iRadiology, Care360 Mobile, Netter’s Atlas of Human Anatomy, STAT ICD-9 LITE, EMR apps. The report, on the basis of application, segments the market into drug references, nursing tools, medical reference, study tools such as flashcards and games, and clinical support systems.

The report segments the market on the basis of geography into Europe, North America, Asia Pacific, and Rest of the World (RoW). The market for mobile medical apps is developing exponentially in emerged economies such as those in Europe and North America owing to the fact that a growing count of health professionals in the region have been utilizing the mobile medical applications in day-to-day business activities.

The chief players dominant in the market for mobile medical apps are Apple Inc., Blackberry, Android, Nokia, Motorola, Samsung, Panasonic, Huawei, and others.

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