Global Market for Patient Warming Devices to Register 5.20% CAGR between 2015 and 2020

Transparency Market Research has recently announced the publication of a new market research study made available on the company website. The research study, titled “Patient Warming Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2015 - 2023,” provides a detailed analysis of the market, including an overview, product portfolio, key geographical segments, and competitive landscape. The market drivers, barriers, and present trends of the market have also been discussed in the research report.According to the research study, in 2014, the global patient warming devices market was worth US$1.6 bn and is estimated to reach a value of US$2.6 bn by the end of 2023. The market is projected to register a 5.20% CAGR between 2015 and 2023.

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Hypothermia is considered as one of the major causes of death in patients who are severely wounded. In this condition, rewarming is a crucial challenge, especially for those who need angiographic or operative intervention. Patient warming devices benefit patients extensively and help them in tolerating the unintended loss of heat in the body by aiding them in achieving normal body temperatures, resulting in faster recovery. The increasing availability of technologically advanced devices and increasing awareness regarding the use of these devices are some of the factors that are estimated to drive the global market in the near future.

By product type, the global market for patient warming devices has been categorized into intravascular warming systems, surface warming systems, and patient warming accessories. In 2014, surface warming systems dominated the market, accounting for a 75% share in the overall patient warming devices market. However, the intravascular warming system segment is estimated to witness rapid growth in the next few years.

By application, the global market for patient warming devices has been classified into perioperative care, newborn care, acute care, and others. In 2014, the perioperative care segment dominated the overall market, accounting for a 40% share in the global market. This segment is projected to remain in its leading position in the forecast period. On the other hand, the acute care segment is gaining traction due to the high demand for acute care centers across the globe.

By geography, the global market for patient warming devices has been divided into Europe, North America, Latin America, the Middle East and Africa, and Asia Pacific. In 2014, North America held the largest share in the overall market owing to the increasing number of surgeries, technological advancements, high awareness levels, and well-established health care infrastructure in the region. North America is followed by Europe and Asia Pacific. The increasing geriatric population in developed countries in Europe is projected to fuel the growth of the market throughout the forecast period. Furthermore, the Asia Pacific market is estimated to grow rapidly owing to the increasing prevalence of cardiovascular and other disorders.

Furthermore, the research study talks about the competitive landscape of the global market for patient warming devices. Detailed profiles of the major players have been discussed in the scope of the research study. Some of the prominent players operating in the market are ZOLL Medical Corporation, Covidien plc, Smiths Medical, C. R. Bard, Inc., Philips Healthcare, Stryker Corporation, Inspiration Healthcare, 3M Health Care, and GE Healthcare.

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Global Neonatal Warming Equipment Market 2013-2019

Neonatal care equipment are usually provided to preterm infants or newborn infants (upto 28 days) whose medical conditions are severe. Neonatal care equipment helps to supply oxygen, provide heat (in case of excessive heat loss) and help in monitoring vital parameters. Blood pressure monitors, cardiopulmonary monitors, bililights, endotracheal tube, incubators, nasal cannula, pulse oximeter, radiant warmer and ventilators are some of the neonatal care equipment.

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Radiant warmer, also known as neonatal warming equipment help provide heat to infants suffering from severe heat loss. Infants have large body surface area as compared to their body volume along with very small volume of fat. Hence, infant’s body is not capable of maintaining proper body temperature that arouses the need for neonatal warming equipment. Neonatal warming equipment is an open bed, provided with a heat source to warm baby. Source of heat is infrared (IR) radiations that are beamed from quartz heater via parabolic reflector (circular paraboloid shaped reflective surface utilized to project energy). 

Thermistor temperature sensors are also incorporated in the equipment to detect the temperature of the equipment and hence help to provide appropriate warming to the neonate. Also, the equipment is designed with audible alarms and large display for temperature set. Height of neonatal warming equipment can be adjusted according to the bed height and also can be swivel to accommodate X-ray units. Neonatal warming equipment are portable in nature and can be transferred from labour room to neonatal intensive care units (NICU).

The market for neonatal warming equipment is expected to witness double digit growth rate compounded annually during the forecasted period. Rising incidences of preterm delivery is driving the growth of neonatal warming equipment market. It has been estimated by the World Health Organization (WHO) that around 15 million preterm births occur every year worldwide. Also, increasing prevalence rate of hospital acquired infections across the globe will propel the growth of neonatal warming equipment market since infants are susceptible to infections. In 2011, the New York State Department of Health reported that the incidence rate of hospital-onset Clostridium difficile infection (CDI) was 0.93 per 100 hospital admission patients in New York in 2011; it was 0.89 in 2010.

Launch of technologically advanced neonatal warming equipment in market will further augment the growth of the market. In addition, entrance of large number of companies into the manufacturing of neonatal warming equipment will also boost the growth of neonatal warming equipment market. Moreover, improving government initiatives will also support the growth of neonatal warming equipment market. For instance, the American Academy of Pediatrics (AAP) has added a level (level IV) in neonatal nursing that will draw the utilization of neonatal warming equipment extensively. Likewise, increasing number of hospitals worldwide will also elevate the growth of neonatal warming equipment market since according to government regulation; every hospital must have at least one neonatal intensive care unit (NICU) comprising of all neonatal care equipment. 

North America accounts for the largest share of total neonatal warming equipment market. This large market size is attributed to the high disposable income of the population in this region. Also, major manufacturers of neonatal warming equipment are domiciled in North America that also helped the region to contribute the largest market share. Asia-Pacific is expected to foresee the highest growth rate during the forecast period owing to rising incidences of preterm births in this region. Also, increasing disposable income of the nations like India and China will propel the growth of the market in the region. The major players operating in this market include GE Healthcare, Philips Healthcare, Smiths Medical, Fisher & Paykel Healthcare Corp., Phoenix Medical Systems Pvt Ltd. and Ibis Medical among other significant players.

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Need to Reduce Healthcare Costs Drives Medical Equipment Rental Businesses

Transparency Market Research, a global market intelligence firm, has recently announced the publication of a new market research report made available on the company website. The research study, titled “Medical Equipment Rental Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” talks about the global medical equipment rental market, presenting an overview of the market, along with the drivers and barriers that will determine the growth of the market throughout the forecast period.

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According to the research report, in 2013, the global market for medical equipment rental was valued at US$33.4 bn and is estimated to reach a value of US$49.1 bn by the end of 2020. The market is projected to register a 5.80% CAGR between 2014 and 2020.

The rising pressure to reduce expenses in hospitals, the growing incidence of chronic diseases, increasing geriatric population, and safety against obsolescence of technologies are some of the major factors that are expected to boost the demand for medical equipment rental throughout the forecast period. Moreover, the expansion of the distribution network in developing countries is further expected to fuel the growth of the market. However, the poor pricing flexibility and absence of appropriate regulatory policies are projected to hamper the growth of the global medical equipment rental market in the near future.

The global medical equipment rental market has been classified on the basis of device category into surgical equipment, electronic/digital equipment, personal/home care equipment, durable medical equipment, and storage and transport. In 2013, the durable medical equipment segment held a 40% share of the global medical equipment rental market. This segment is projected to remain in its leading position in the forecast period, exhibiting a 5% CAGR between 2014 and 2020.

Furthermore, the global medical equipment rental market has been categorized on the basis of end use into medical equipment rental, personal/home care, and institutional medical equipment rental. In 2013, the chronic and geriatric patient sub-category of personal/home care held a 50% share of the overall personal/home care segment.

On the basis of geography, the global medical equipment rental market has been divided into Asia Pacific, Europe, North America, and Rest of the World. In 2013, Europe led the global market, accounting for a 30% share in the overall medical equipment rental market, followed by the North America medical equipment rental market. The North America market is estimated to surpass Europe in the next few years. On the other hand, the Asia Pacific market for medical equipment rental is anticipated to register the highest growth rate – a 6% CAGR between 2014 and 2020.

Furthermore, the research study covers the competitive landscape of the global medical equipment rental market, including detailed profiles of the major players operating in the market. As per the study, the global medical equipment rental market is extremely fragmented, owing to the dominance of a few large players such as Siemens Financial Services, Apria Healthcare Group, Stryker Corporation, and Hill-Rom Holdings, Inc.

Some of the other players in the market are Universal Hospital Services, Inc., Port Huron Hospital Medical Equipment, Hill-Rom Holdings, Centric Health Corporation, Westside Medical Supply, Woodley Equipment Company Ltd., US Med-Equip, Nunn’s Home Medical Equipment, and Walgreen Co.

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Hemostasis and Tissue Sealing Agents Market to Reach US$5.2 bn in 2020, North America to Remain the Most Lucrative Market

Transparency Market Research has published a new report on the global hemostasis and tissue sealing agents market. As per the report, the global hemostasis and tissue sealing agents market stood at US$3.0 bn in 2013 and is expected to reach US$5.2 bn by 2020. The report, titled ‘Hemostasis and Tissue Sealing Agents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,’ states that the global market is expected to expand at an 8.0% CAGR from 2014 to 2020 owing to factors such as technological improvements and the growing aging population.

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Hemostasis and tissue sealing agents play a vital role in simplifying wound sealing procedures during surgeries. Primarily, the global hemostasis and tissue sealing agents market is driven by the introduction of new products. For example, in May 2014, the Sylys Surgical Sealant was introduced by Cohera Medical, Inc.; it can be used in gastrointestinal surgery. In January 2014, Baxter received the U.S. FDA approval for the TISSEEL fibrin sealant that is used for various surgeries. The constant introduction of new products and the increasing adoption of technological innovations are expected to propel the global hemostasis and tissue sealing agents market in the years to come.

The increasing number of vascular, cardiovascular, pulmonary, and gastrointestinal surgeries has also increased the demand for hemostasis and tissue sealing agents. Factors such as the risk of complications of hemostasis and tissue sealing agents and strict regulatory requirements are expected to hamper the growth of the global hemostasis and tissue sealing agents market in the near future. However, the increasing investment in hemostasis and tissue sealing agents for developing agents is expected to benefit the global market in the near future.

Leading players are concentrating on introducing new innovative products in the global market. Some of the prominent companies operating in the global hemostasis and tissue sealing agents market are CryoLife, Inc., Advance Medical Solution Group plc, Pfizer, Inc., Johnson and Johnson, Baxter, and Integra LifeSciences Corporation.

The global hemostasis and tissue sealing agents market is segmented on the basis of product type and geography. Based on geography, the global market for hemostasis and tissue sealing agents is divided into North America, Asia Pacific, Europe, and Rest of the World. In 2013, North America dominated the global hemostasis and tissue sealing agents market owing to the rising number of pulmonary and cardiovascular surgeries. The Europe hemostasis and tissue sealing agents market is expected to expand at a 7.0% CAGR from 2014 to 2020 due to the introduction of products such as HEMOPATCH, TISEEL, and FLOSEAL.

Based on product type, the global hemostasis and tissue sealing agents market is segmented into topical hemostats and adhesive and tissue sealing agents. The adhesive and tissue sealing agents segment is predicted emerge as the dominant contributor in the global market throughout the forecast period. Improved research and development activities towards drug discovery are expected to propel the adhesive and tissue sealing segment.

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