Advanced Wound Care Management Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
Wound is defined as an injury to a tissue, wherein the skin is either cut or torn, thus affecting the dermis of the skin. Wounds are of two types, namely acute and chronic wounds. Acute wounds take approximately eight weeks, following normal stages of wound healing. Whereas, chronic wounds do not follow the normal stages of healing and take longer time to heal. The factors that give rise to chronic wounds include age, diabetes, cancer, obesity, poor nutrition, and infection.
The wound care market is segmented into traditional wound care and advanced wound care products. Health care professionals largely use traditional wound care products under dry environment to protect the wound from external factors. The main focus of these products is to treat the non-severe wounds from bleeding, inhibit infection, and dry the wound. Whereas, Advanced wound care products are used by clinicians to provide a therapeutic effect that supports wound healing. Advanced wound care is based on the theory of moist microenvironment that stimulates the natural healing process without blocking the wound and it includes film and foam dressings, hydrogels, alginates, and hydrocolloids. Besides maintaining a hydrated environment, which is more conducive for wound healing, advanced wound care products keep the temperature consistent, allow flow of oxygen, remove dead tissue, protect the site from exogenous infection, and ease the pain associated with dressing changes.
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Alarming growth of diabetic population augments the advanced wound care management market growth
The major factors driving the advanced wound care management market includes the growing incidence of diabetes among the populace According to World Health Organization, in 2014, around 8.5% of the adult population aged 18 years and above had diabetes, while in 2015, 1.6 million deaths occurred due to diabetes. The other factors influencing the advanced wound care management segment growth include the growing geriatric population and rising incidences of chronic wounds. Advanced wound care is also used for different types of ulcers such as pressure ulcers, diabetic ulcers, and chronic ulcers. However, high costs associated with such treatments, one of the factors expected to deter the advanced wound care management market growth.
Negative pressure wound therapy is identified as the most promising technology for advanced wound care
The advanced wound care management market is segmented on the basis of product type, application, end-user, and geographical regions.
On the basis of product type, advanced wound care management market is categorized into moist wound dressings, active wound care and therapy devices. Moist wound dressings is further segmented into foam, films, hydrocolloids, collagen, and alginates. Therapy devices are further segmented into negative pressure wound therapy and pressure relief devices. Active wound care is segmented into skin substitutes and growth factors.
On the basis of application, advanced wound care management market is categorized into different segments such as skin ulcers, surgical wounds, burn wounds, pressure ulcers, diabetic foot ulcers, venous leg ulcers and arterial ulcers. Among all these surgical wounds and skin ulcers are leading the global market.
On the basis of end users, advanced wound care management market is categorized into hospitals, clinics, ambulatory surgical centers and others.
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Increasing prevalence of chronic wounds in U.S. to boost the advanced wound care market in North America
On the basis of regional segmentation, advanced wound care management market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America has more significance with all the latest technologies such as negative pressure wound therapy, which is more efficient for treating illnesses. North America is the leading market with the 45% market share, followed by Europe and Asia. Advanced wound care market is expanding steadily and has created ample opportunities for the launch of new products. In terms of imminent growth potential, the emerging economies of Asia Pacific are expected to boost the global advanced wound care management market due to growing population of chronic wound and diabetic patients in the region. The region is expected to witness the fastest growth for the advanced wound care management market in the near future.
Emerging players participating in merger and acquisition and strategic expansion of product portfolio
Key players in the global advanced wound care management market are Johnson & Johnson (J&J), Hill-Rom, KCI, 3M company, Baxter International, Acelity, Coloplast, Integra Lifesciences, Kinetic Concepts, Covidien, Smith & Nephew, Leap Therapeutics, Hematris wound care, Alliqua Bio Medical, Layer Bio, and Triage Meditech.
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Contact Lens Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
A contact lens is a medical device used for cosmetic and therapeutic reasons, primarily for vision correction. Contact lens provides enhanced peripheral vision as it does not accumulate moisture from the atmosphere. The vast variety and affordability of contact lens make it a common lifestyle product. Contact lens provides high compatibility as it can be worn along with other eye wear choices such as sunglasses. Lenses offer clear peripheral and all around vision, eliminating glare. Hence contact lenses are more comfortable than spectacles. Corrective contact lens is widely used as it corrects refractive errors efficiently, compensates for visual deficiencies, and typically improves conditions such as myopia, hyperopia, astigmatism, and presbyopia. Owing to the computer controlled, automated production of contact lenses with the help of cast molding technology, higher accuracy and quality are assured in the final product. Contact lenses are classified based on their material, wear schedule, and primary function into multifocal contact lens, monovision, and corrective contact lenses.
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Rising incidences of ophthalmic disorders is expected to drive market
According to the National Eye Institute, around 2.9 million Americans had ophthalmic disorders in 2015, which is expected to increase to 5 million by 2030. In addition to this, technological advancements in contact lens manufacturing, increasing global population, and desire to make fashion statements are projected to be the major factors driving market growth. With added advantages such as unique aquaform comfort technology, breathable lens, added hydration, and oxygen permeability, the global contact lens market is on the surge to rise drastically.
Silicone hydrogel lens offers excellent eye care and is expected to gain immense popularity
The global contact lens market is segmented on the basis of product type, lens design type, application, and geography.
On the basis of product type, the global contact lens market is segmented into:
Rigid Permeable Gas lens
Soft lens
Hybrid lens
On the basis of lens design type, the global contact lens market is segmented into:
Spherical
Toric
Multifocal
Others
On the basis of application, the global contact lens market is segmented into:
Corrective
Therapeutic
Prosthetic
Cosmetic
Integration of digital technology with contact lenses is expected to bolster market growth in Asia Pacific
Regional segmentation of the contact lens market by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the U.S. Centers for Disease Control and Prevention, there were 40.9 million contact lens users in the U.S. in 2016 and the number is expected to rise drastically, making North America dominant in contact lens market. Also, the high performance of disposable contact lens segment, rise in number of senior ophthalmological patients, and ophthalmic issues in young people have led to surge in demand for contact lenses in North America. According to the World Health Organization, up to 20 million Asians are estimated to get affected by eye-related disorders such as cataract, myopia, glaucoma, and age related macular degeneration by 2030. However, growing awareness, safety, and affordability will propel the global contact lenses market growth in Asia Pacific during the forecast period.
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Acuvue lenses are the largest prescribed contact lenses ruling the global contact lens market
Key players operating in the contact lens market are Novartis International AG, Menicon Group, The Cooper Companies, Inc., Carl Zeiss AG, Baush and Lomb, Air Optix, Essilor, Conforma, Menicon, UltraVision, and Wesley Jessen. Bioinfinity and Biomedics are two commonly used lenses owing to their superior optic quality.
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Bone Marrow Transplant Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024
Bone marrow transplant is a medical procedure to replace bone marrow damaged or destroyed by disease, infection, or chemotherapy. Bone marrow transplant procedure involves transplanting blood stem cells that travel to the bone marrow where they produce new blood cells and promote growth of new marrow. Bone marrow is the spongy, fatty tissue inside human bones, which creates the different parts of blood such as red blood cells that carry oxygen and nutrients throughout the body; white blood cells that fight infection; and platelets responsible for formation of clots. Bone marrow also contains juvenile blood forming stem cells known as hematopoietic stem cells (HSCs). The HSC found in the bone marrow constantly creates new blood cells. Bone marrow transplant replaces damaged stem cells with healthy cells. This helps the body produce optimum levels of white blood cells, platelets, or red blood cells to avoid infections, bleeding disorders, or anemia. For transplantation, healthy stem cells are procured from a compatible donor, or healthy bone marrow is extracted from a non-affected part in the patient’s body.
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According to Centre for Disease Control (CDC), around 14.1 million people worldwide were diagnosed with cancer in 2012, leading to 8.2 million fatalities. Furthermore, around 19.3 million new cases of cancer are projected to be diagnosed by 2025. Also, prevalence of sickle cell anemia is increasing worldwide. This inadvertently would augment demand for bone marrow transplant, thereby fueling growth of the overall bone marrow transplant market.
Bone Marrow Transplant Market
On the basis of transplantation type, the global market is classified into:
Allogeneic Bone marrow Transplantation
Autologous Bone Marrow Transplantation
On the basis of the disease indication, the global market is classified into:
Lymphoma
Leukemia
Myeloma
Myelodysplasia
Aplastic Anemia
Sickle cell Anemia
Solid tumors
Thalassemia
Myeloproliferative Neoplasms
On the basis of the end user, the global market is classified into:
Multispecialty Clinics
Hospitals
Ambulatory Surgical Centers
According to Centre for Disease control and prevention (CDC), cancer is one of the most prevalent chronic diseases, with around 20.3 million cases diagnosed in 2014. The U.S government is taking initiatives to prevent and cure the disease as a result of which, large investments in this field are expected in the near future. For instance, the National Institutes of Health (NIH), an institute of the U.S. Department of Health and Human Services (HHS), is the primary federal agency for conducting and supporting medical research. It is composed of 27 Institutes and Centers, including the National Cancer Institute (NCI), and which provides leadership and financial support to researchers in the U.S. and throughout the world.
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Increasing prevalence of cancers and anemia all over the world is the major driver for the growth of global bone marrow transplant market. And also, advances in technology, improving healthcare infrastructure, emerging indications of bone marrow transplant for heart and neuronal disorders, growing investment in logistic services, increasing per capita healthcare expenditure are some other factors expected to flourish the global bone marrow transplantation market. Major challenges for global bone marrow transplant market are high cost involved in the treatment and acute dearth of bone marrow donors.
Europe would retain its dominance in the global bone marrow transplant market in the foreseeable future. This is mainly attributed to high density of bone marrow transplant centers and growing bone marrow registries in the region. Latin America is estimated to witness rapid increase in volume of bone marrow transplant industry, due to high number of potential candidates for the procedure. Asia Pacific is characterized by relatively low prevalence of bone marrow related diseases and thus would not witness rampant growth in the near future. However, owing to easy access to high quality healthcare services at relatively low costs, the region is expected to emerge as a hub for medical tourists seeking bone marrow transplant.
Key players operating in the global bone marrow transplant market include STEMCELL Technologies, Merck Millipore Corporation, Sanofi-Aventis LLC., AllCells LLC., ReachBio LLC., Conversant Bio, Cruline Human biospecime PRO, PromoCell GmbH, and Lifeline Cell Technology.
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Interventional Cardiology Devices Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017 – 2025
Interventional cardiology is the branch of cardiology that specifically deals with catheter based treatment of heart diseases, such as congenital heart defect (CHD), coronary artery disease, and aneurysm. This involves insertion of the catheter into femoral artery or any large peripheral artery or vein and through catheter whole procedure is performed by using fluoroscopy. Interventional cardiology has reduced the complications for patients as it provides, fast recovery, short hospital stay, and controlled bleeding. There is constant development in interventional cardiology devices, such as from bare metal stent to bio-absorbable stent. According to Centers for Disease Control and Prevention, which provides information about various diseases, there were around 40,000 children born with CHD in the U.S. in 2016. Interventional cardiology devices include catheters, guide wire, stents, filters, and balloons.
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Interventional cardiology devices market taxonomy:
By Product Type
Stents
Catheters
Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloons
Intravascular Ultrasound System
Inferior Vena Cava (IVC) Filter
Percutaneous Transluminal Coronary Angiography (PTCA) Guide Wires
Left atrial Appendage (LAA) Device
By Geography
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
Increased prevalence of cardiovascular diseases is expected to fuel the growth of interventional cardiology devices market
There is a continuous increase in geriatric population and obesity which is leading to the increase in cardiovascular disease. For instance, as per United Nations report, there were around 901 million people of age 60 and above in 2015 and it is expected to reach 1.4 billion by 2050. Advancement in healthcare research, increasing patient awareness, and increase in the demand for minimal invasive surgery raise the demand for interventional cardiology devices. Interventional cardiology devices help interventional cardiologist to perform the procedure in short span of time, which reduces the risk and complication. The increase in obesity, geriatric population and lifestyle changes leads to the increase in coronary artery disease, for instance as per American Heart Association 2017 report, in the U.S. there was around 360,000 death caused due to coronary artery disease. With the prevalence of lifestyle diseases such as diabetes and hypertension has increased the cases of cardiovascular disorders. Continuous technological advancement in interventional cardiology devices and development of new systems with improved features such as new generation of drug eluting balloons and bio-absorbable stents are expected to support the growth in interventional cardiology devices market. Initiative taken by the Government to increase awareness about cardiovascular diseases and conduction of regular medical checkup camps has boosted the growth of market. Major challenges faced by interventional cardiology medical devices market is high manufacturing cost of these devices.
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Developed regions support the growth of interventional cardiology devices market
Interventional cardiology devices market is segmented into various geographical regions such as North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America leads the interventional cardiology devices market because of the large geriatric population and sedentary lifestyle leading to cardiovascular disorders. According to Population Reference Bureau 2016, there were around 40 million people of age 60 and above, and it is expected to reach 89 million by 2050 in the U.S. Europe is closely following the North America in interventional cardiology devices market followed by Asia Pacific. However, Asia Pacific is expected to expand significantly in near future because of emerging economies such as India and China due to the increase in cardiovascular diseases, increased healthcare expenditure, per capita income of individual and increase in geriatric population, which is expected to support the growth of interventional cardiology devices market.
Key players to support the interventional cardiology devices market
There are various players present across the globe contributing to the interventional cardiology devices market. Some key players are Abbott, Terumo Medical Corporation, Boston Scientific Corporation, Cardinal Health, Medtronic, Cook Medical and B. Braun Melsungen AG. In 2017, Abbott acquired St Jude Medicals to increase the product pipeline, as St Jude Medicals are into atrial fibrillation, structural heart, heart failure and chronic pain and Abbott are leading in coronary inventions, which increase the market share and fuels the growth of interventional cardiology devices market.
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Parenteral Packaging Market to Surpass US$ 20.1 Billion Threshold by 2025
The Global Parenteral Packaging Market was valued at US$ 7,845.7 million in 2016 and is projected to expand at a CAGR of 11.1% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increase in number of surgical procedures and chronic disease cases such as diabetes and cancer, is expected to support growth of parenteral packaging market over the forecast period.
As the parenteral administration route is most effective and common form of drug delivery into body for active drug substances, the preference for parenteral drugs is increased in last few years. Also technological advancements in drug delivery systems, such as development of sophisticated system which allows drug targeting and controlled release of parenteral drugs is supporting the growth of parenteral drugs packaging market.
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The parenteral medicines plays major role in treatment of many disease such as cardiovascular disease, ulcerative colitis, rheumatoid arthritis and many more and increase in prevalence of this disease is expected to support the growth of parenteral drug packaging market. As per Centers for Disease Control and Prevention (CDC), in 2014, around 29.1 million people were suffering from diabetes in the U.S., furthermore, among this cases 1 out of 4 people were found unaware about that they were suffering from diabetes. Expected increase in lifestyle disease cases and number of surgical procedures will support the increase in use of parenteral drugs which in turn expected to lead the growth of parenteral packaging market in the near future.
Parenteral drugs are used to enhance the healing of surgical procedure, also to reduce pain or risk of infection during surgical procedure. In this medication may include steroids or anti-inflammatory medications and antibiotics and are administered through intramuscular injection or IV.
The increase in surgical procedures for the treatment of many disease such as cancer, coronary artery disease expected to fuel the demand of parenteral drugs which in turn support the growth of parenteral packaging market in the near future. According to World Health Organization (WHO), around 312.9 million surgical procedures performed around the globe in 2012 and this number is increased by 38.2% from 226.4 million in 2004. Spurt in number of surgical procedures is expected to support the growth of parenteral packaging market in the near future.
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Key takeaways of the market:
The global parenteral packaging market is expected to expand at a CAGR of 11.1% during the forecast period (2017–2025). Due to rising number of surgical procedures and increase in cardiovascular disease cases from around the globe is expected to favor the market of parenteral packaging over the forecast period.
The North America region in the global parenteral packaging market is expected to show high growth rate during the forecast period in terms of value
In terms of technique segment, the prefilled syringes and cartridges packaging technique type is expected to expand at a significant CAGR of 13.1%, followed by ampoules packaging technique during the forecast period
In terms of material segment, the polyolefin material parenteral packaging type is expected to expand at a significant CAGR of 12.4%, followed by plastic and polymer material parenteral packaging during the forecast period
In terms of packaging type segment, the small volume parenteral packaging type is expected to expand at a significant CAGR of 12.2%, followed by large volume parenteral packaging during the forecast period
The global parenteral packaging market is characterized by market expansion in Asia Pacific, North America, and Europe could generate higher market revenue due to the high incidence rate of lifestyle disease such as diabetes and increase in number of surgical procedures
Some of the major companies in the area of parenteral packaging are Gerresheimer AG, Schott AG, Becton, Unilife Corporation, Inc, Dickinson and Company, Ypsomed Holding AG, West Pharmaceutical Services, Inc., SiO2 Medical Products, Terumo Corporation, Ompi, Stevanato Group and Nipro Corporation, Berry Plastics Corporation, Becton Dickinson and Company, MeadWestvaco Corporation, Owens-Illinois, RPC Group, Schott Pharmaceuticals Services Inc., and Graphic Packaging Group.
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Ablation Devices Market to Surge Well Beyond US$ 8 Billion by 2025
The Global Ablation Devices Market was valued at US$ 3,330.0 million in 2016 and is projected to expand at a CAGR of 10.9% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Growing popularity of minimally invasive surgical procedures is expected to be the major factor driving growth of the global ablation devices market over the foreseeable future.
Arrhythmia is a common type of cardiovascular disorder that affects a large population worldwide. states that atrial fibrillation is a growing serious health disorder that had affected 33.5 million people worldwide, which accounts 0.5% of total population share, in 2013. With the help of ablation devices, a large number of people suffering from these alarming diseases are now able to receive proper treatments.
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Ablation devices are also used for the treatment of tumorigenic diseases such as cancer and several other serious diseases including neurological and small brain tumors. These devices are experiencing significant demand in the current healthcare scenario due to their efficacy and ease of use. Ablation offers numerous advantages over conventional surgery, in terms of increased safety, decreased scarring, and faster recovery. According to American Society of Plastic Surgeons, 5.8 million reconstructive minimally invasive surgeries were performed in 2013.
According to a research article published in the Heart Rhythm Journal in 2014, catheter ablation is suggested to be a safe, beneficial, and effective technique in maintaining sinus rhythm. Also, the catheter ablation possess lower mortality and stroke risks in adult patients as compared to the regular surgical procedures. Catheter ablation devices play a major role not only serving the geriatric patients but also younger patients, who can resume their everyday chores within a very less span of time after the surgery, as ablation takes minimal recovery duration. Moreover, number of types and techniques through which ablation is performed, also provide a wide array of choices to the patients and healthcare practitioners to choose a suitable type. For instance, a study published in the Journal of Atrial Fibrillation in 2015, states that cryoablation technique is better suited to treat atrio-ventricular nodal re-entry tachycardia (AVNRT) than radiofrequency ablation, as chances of permanent AV block are very less in cryoablation than that in radiofrequency. Doctors from Seattle Children’s suggest laser ablation for the treatment of epilepsy and brain tumors even in young children, as old as 2 years, due to the safety and precision offered by it. Thus, the demand for ablation devices is expected to witness dramatic growth in the near future, creating lucrative opportunities for the market players to grab more sales with the introduction of cost-efficient and innovative devices.
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Key Takeaways of the Ablation Devices Market:
The global ablation devices market is expected to expand at a CAGR of 10.9% during the forecast period (2016–2025), as there exists a huge potential market, especially in Asia Pacific, Latin America, Middle East, and Africa
Robust developments in surgical procedures and adoption of minimally invasive surgical procedures are expected to drive the global ablation devices market.
Atrial Fibrillation, Arrhythmia, Lung Cancer, Breast Cancer, AV node cancer as well as Brain Tumors, and Pancreatic & Kidney tumors are the major therapeutic applications, where various types of ablation can be performed and remain as potential application areas in the global ablation devices market.
Some of the major players involved in the global ablation devices market includes, Arthrex, Boston Scientific Corporation, Medtronic Plc, Intuitive Surgical, Inc., Johnson & Johnson, Inc., Halyard Health, Abbott Laboratories, EDAP TMS S.A., AtriCure, Inc., and Smith & Nephew.
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Hearing Aids Market to Surpass US$ 11.2 Billion Threshold by 2025
The Global Hearing Aids Market was valued at US$ 7584.8 million in 2016 and is projected to expand at a CAGR of 4.6% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Technologically advanced devices with additional features, which in turn is projected to support growth of the hearing aids market over the forecast period.
Major players such as Sivantos Inc., Sonova Holding AG are focusing on product development and innovation to expand their sales network in emerging economies. For example, Sivantos Inc. has launched products with features such as Bluetooth connectivity, slick design, binaural listening technology, and customizable size as per user need. Also, in case of in-the-ear type of hearing aids, they provide features such as noise cancellation, vent for optimal ear ventilation.
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There are some restraining factors leading to gap between need and supply of hearing aids. These include lack of awareness in emerging countries about technologically advanced hearing aids, high cost of hearing aids specifically of digital type of hearing aids, lack of healthcare infrastructure in rural areas of emerging economies.
There are various players in the market that are confined to product diversification and customization for the sales growth. Furthermore, the companies are continuously working on the product development and advancement that aligns to the need and requirement of the users.
The manufacturers have opportunity to tap major market share in case of emerging countries through advertisement about product features and by controlling the cost of hearing aids through R&D activity. Increasing population and growing incidence of hearing loss, especially in emerging economies is expected to create a conducive environment for growth of the hearing aids market.
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Key takeaways of the market:
The global hearing aids market is expected to expand at a CAGR of 4.6% during the forecast period (2017–2025). Due to rising incidence of hearing loss problem cases and aging population the demand for hearing aids from around the globe is expected to favor the market of hearing aids over the forecast period.
The behind the ear hearing aids product segment in the global hearing aids market was estimated to be the largest in 2017 and is expected to retain its dominance in the market throughout the forecast period in terms of value
In terms of technology segment, the digital type of hearing aids is expected to expand at a significant CAGR of 4.6% during the forecast period, owing to it being more advanced in terms of technology and features
The global hearing aids market is characterized by market expansion in Asia Pacific, North America, and Europe could generate higher market revenue due to the increase in aging population and rising awareness about the advanced technology
Some of the major companies offering hearing aids market are Sonova Holding AG, Sivantos Inc., Cochlear Ltd., SeboTek Hearing Systems LLC, Oticon A/S, Zounds Hearing Inc, MED-EL, Sonic Innovations Inc., GN Hearing and William Demant Holding A/S.
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Veterinary Vaccines Market to Surpass US$ 9.4 Billion by 2024
The Global Veterinary Vaccines Market was valued at US$ 5,688.7 million in 2015 and is projected to expand at a CAGR of 5.9% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Rise in incidence of food-borne zoonotic diseases along with increase in population of livestock is expected to favor growth of the veterinary vaccines market. According to European food safety authority (EFSA), In the European Union (EU), over 320,000 fatalities are reported each year due to food-borne zoonotic diseases.
Zoonoses are infections that directly infect humans or are indirectly transmitted to humans through animals by transmission of micro-organisms such as such as bacteria and their toxins, viruses and parasites. This can be caused due to consumption of contaminated food in contact with infected animals or contaminated meat products. Severity of such diseases varies from mild symptoms to life-threatening conditions. Most such micro-organisms are found in the intestines of healthy food-producing animals. The above concern is one of the major factors projected to propel growth of the market for veterinary vaccines over the forecast period. Furthermore, livestock animals serve as a major source of primary and secondary food products. Rise in population of livestock animals is expected to fuel demand for veterinary vaccines in the near future. Veterinary vaccines promotes better growth of animals. According to WHO, in 2015, children under five years of age accounted for one third of all deaths due to foodborne diseases.
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Breakout of zoonotic diseases are dependent on various factors such as environmental changes, demographics related to human and animals, pathogen changes and farming practice modifications. According to Maine Center for Disease Control & Prevention, in 2013, around 75% diseases of animal origin affecting humans were infectious diseases. As animals are the closest companions to humans and also serve as sources of various products such as meat and milk, care should be given according to the severity of the disease from which they can be affected. The specificity of the vaccines is the most important factor that is responsible for the growth in demand for the veterinary vaccines that can be used as prophylaxis. According to clinical microbiology paper published in 2007, veterinary vaccines comprise around 25%of the animal health products globally. Growth for veterinary vaccines industry has grown consistently supported by various factors such as new technological advancements and introduction of novel vaccine development methods for cost effective products, which further favors the rise in availability and adoption rate for the veterinary vaccines globally. Also, drug resistance to existing pathogens and new diseases is also prompting focus on new drug discoveries.
According to (American Veterinary Medical Association) JAVMA News in 2017, there have been various acquisitions and mergers in veterinary vaccines market in the recent past. However, 85 to 95% of veterinary hospitals in the U.S. are owned independently. Mars Incorporated—a company involved in manufacturing of Petcare, Chocolate, Wrigley, Food and Drinks—is to acquire VCA Inc. – a pet health care services provider in the U.S. and Canada that delivers through nearly around 800 small veterinary hospitals – in total value of around US$ 9.1 billion . Furthermore, in recent years a trend of consolidation has been observed in the industry, as companies are experiencing focusing on leveraging potential through economies of improved business practices. Furthermore, there are various other factors responsible for significant growth in the veterinary vaccines market such as rise in swine population globally and increasing the reach for swine influenza virus globally is projected to favor the market for veterinary vaccines market over the forecast period.
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Key takeaways of the market:
The global veterinary vaccines market is expected to expand at a CAGR of 5.9% during the forecast period (2016–2024). Rise in pet vaccination awareness among the population globally is expected to favor the market for veterinary vaccines market over the forecast period.
The live attenuated vaccines segment in the global veterinary vaccines market was estimated to be the largest in 2015 and is expected to dominate the market throughout the forecast period in terms of value. Rise in demand for white meat in North America and Europe is expected to fuel the market to high growth over the forecast period
In terms of animal type, the livestock type sub-segment is expected to expand at a significant CAGR of 5.6% during the forecast period owing to rise in population of livestock animal and the human dependency on the cattle for primary as well as secondary products
The global veterinary vaccines market is characterized by strategic research and development and advancements in the technology of vaccines production. Also, the rise in adoption for poultry business globally is expected to favor the market for veterinary vaccines market.
Some of the major players are Zoetis Inc. Merck Animal Health, Merial Inc., Boehringer Ingelheim, Bayer Animal Health, Elanco Animal Health, Ceva Animal Health, Heska Corporation, Virbac Inc., and Indian Immunological Ltd.
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Electronic Medical Records Market Size To Reach Close To US$ 40 Billion upto 2024
The Global Electronic Medical Records Market was valued at US$ 21,444.4 million in 2015 and is projected to expand at a CAGR of 6.9% during the forecast period (2016–2024),as highlighted in a new report published by Coherent Market Insights.Increasing digitization is propelling deployment of EMR across the global healthcare sector.
Healthcare delivery is expected to undergo a drastic transformation through integration of information technology and healthcare services. The market is presenting new growth avenues for healthcare companies as well as major IT companies such as Apple and Microsoft. These companies are working in close coordination with healthcare service providers, understanding the various nitty-gritties of processes and problems and accordingly developing integrated solutions. Besides, emergence of health monitoring devices and applications and rising awareness among the populace about the ease of use and various benefits of such services led to increases demand for digital solutions to track health parameters and securely access personal medical records. Moreover, the advent of on-cloud EMR solutions further provides significant growth traction for the electronic medical records market.
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There are plethora of electronic medical record solutions available in the market, which makes the market highly competitive diverse scale of operations and unique requirements of users. However, the market provides highly lucrative growth opportunities, given the increasing inclination of various governments towards encouraging deployment of EMR in hospitals and private clinics. For instance, the Dubai government, has installed EMR system, Salama, across the Dubai Health Authority (DHA) network of health facilities. The government will be rolling out its MER system across the DHA network in three phases through 2017.
Furthermore, facilities already using EMR systems are upgrading to improve healthcare delivery. Catholic Health Services (CHS) and University of Maryland Medical System (UMMS) achieved Stage 6 recognition (almost fully automated/paperless medical records) by the Healthcare Information and Management Systems Society (HIMSS) Analytics on their Outpatient EMR adoption model of HIMSS Analytics. Deployment of new EMR systems and upgrading of systems would be significantly contributing towards growth of the global electronic medical records market.
At the same time, industry experts opine to have a defined legal framework for EMRs to avoid unnecessary legal issues. Emerging economies such as India, Brazil, Turkey, China, and Indonesia need to devise a framework for the use of EMR systems in their respective countries. In India, there are no defined legal framework in place to govern EMR and EHR systems, with preexisting IT laws applied to these systems. Cyber Laws, Indian Information Technology Act laws and compliances concerning health and medical industry are various governing laws posing a major challenge to smooth operations of present EMR systems. Healthcare facilities in India, using EMR systems, are facing challenges in complying with these laws and thus, are at risk of being faced with legal issues. Having a proper legal framework is essential in the growth path of electronic medical records market.
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The global electronic medical records market is expected to expand at a CAGR of 6.9% during the forecast period (2016–2024) as there exists a huge demand especially in Asia Pacific, Latin America, Middle East and Africa markets
Cloud-based solutions are expected to fuel the global electronic medical records market growth exponentially during the forecast period. Chain of hospitals and diagnostic laboratories who can afford cloud-based EMR systems find it very beneficial for their patients.
Hospitals are the major end users of EMR systems as these organizations deal with a huge patient database and have high demand among their patients to access their medical records
The demand for EMR is growing in ambulatory/outpatient services, which is expected to fuel the growth of this market in near future
High healthcare spending and rapid digitization has supported the North America and European regions to dominate this market. However, increasing funding in emerging regions driving better healthcare infrastructure would drive substantial demand in Asia Pacific and Latin America during the forecast period.
Some of the major players involved in global electronic medical records market include Cerner Corporation, Allscripts-Misys Healthcare Solutions Inc., McKesson Corporation, Quadramed Corporation, Medical Information Technology Inc., Sage Software Healthcare Inc., Greenway Health, LLC, NextGen Healthcare Information Systems, LLC, Epic Systems Corporation, and GE Healthcare.
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Equine Healthcare Market Insights, Opportunity Analysis, and Industry Forecast till 2025
Equine Healthcare refers to the activities and practices aimed for the maintenance of horses. Equine healthcare offers the veterinary services intended for treating horses to enhance their quality of life, develop quality animal food and increase lifespan. The total equine population is directly proportional to the quality of equine healthcare. Equine healthcare includes a number of activities including diagnosis, therapies and supplements for maintaining internal health of horses. The diagnostic products help detect bacteria, viruses and antibodies, therapeutic products helps to treat disease through vaccination and supplement products helps in maintaining specific requirements.
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High return on investment and rise in genotypic analyzers is expected to lead the market expansion
Equine veterinary practice is expected to be a high overhead owing to prevent the rising diseases like influenza virus, herpes virus, west nile virus and encephalomyelitis, where the cost for global vaccination is estimated to be around 30 million dollars by the Euro Surveillance Journal in 2016. Rising investments and popularity in alternative forms of gambling like horse racing, online gaming, betting, competitive riding, high return on investment and leisure is expected to drive the global equine healthcare market. The growth and rising demand for gestation diagnosis products, increasing urine test kits, ultrasound devices and supplement products will boost the global equine healthcare market. Additionally, the growing initiatives by equine healthcare organizations to develop drugs for various diseases is expected to give impetus to the equine healthcare market. The non-invasive test kits are largely preferred by the veterinarians owing to the easy usage and affordability.
Rising demand for equine diagnostic products is expected to boost equine healthcare market
The global equine healthcare market is segmented on the basis of diagnostic products, therapeutic products, supplementary products and geography.
On the basis of diagnostic products, the global equine healthcare market is segmented into:
Pregnancy and Gestation Diagnostic
Urine Test Kits
Ultrasound Devices
Genotyping Analysis
Breed Quality Analyzers
Semen Quality Analyzers
Genetic Disease Identification Products
On the basis of therapeutic products, the global equine healthcare market is segmented into:
Dopamine Agonists
Vaccines
Anti-Bacterial
Anti-Protozoal
Anti-Viral
Laxatives
Anti-Inflammatory
On the basis of supplement products, the global equine healthcare market is segmented into:
Performance Supplements
Proteins and Amino Acids
Electrolytes
Vitamins
Others
Protection Supplement
Protection Products
Prosthetics
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Asia Pacific market is expected to show positive growth owing to the import of quality of quality breeds and their maintenance
Regional segmentation of the equine healthcare market by Coherent Market Insights comprises of North America, Europe, Asia Pacific, Latin America, Middle East and Africa. According to the study conducted by the American Horse Council in 2004, U.S. has 9.2 million horses with $39 billion direct economic impact. Also, a total 22,849 horses were imported into the U.S. in 2013, thereby increasing the demand of equine healthcare in North America. The Australian market is among the leading horse breeding countries of Asia Pacific, hence contributing to the drastically increasing demand for healthcare products in Asia Pacific. Additionally, the maintenance of race-horse breeds by the rising investments from China by specific supplements, therapeutic and protection products drive the growth of Asia Pacific market.
Animal-health innovation driven acquisition broadens global equine healthcare market
Key players operating the equine healthcare market include Affymetrix Inc., Boehringer Ingelheim, Merck, Bayer Health Care and Elanco Animal Health. The agreement of Sanofi with Bayer equine health to launch a variety of products to prevent gastric ulcer syndrome, westnile virus, equine influenza and rabies in horses. The launch of updated equine influenza vaccine ProteqFlu by Merial broadens the portfolio of leading products. Other prominent Vendors include Vetoquinol, Novartis Animal Health, Ceva Holdings and Signostics.
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Healthcare Biometrics Market to Surpass US$ 8.7 Billion by 2024
The Global Healthcare Biometrics Market was valued at US$ 1,333.1 million in 2015 and is projected to expand at a CAGR of 23.4% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Growing security concerns and integration of information technology (IT) with healthcare processes is expected to drive growth of the global healthcare biometrics market.
Frauds and operational inefficiencies are overriding healthcare administration concerns and needs to be addressed soon for overall profitability and improved efficiency. Use of biometrics ensures safety and controlled access. Healthcare insurers are inundated with fraudulent claims. According to the Coalition against Insurance Fraud—an anti-fraud watchdog group—nearly US$ 80 billion is lost annually in Medicare fraud in the U.S. Besides, giving every patient a digital identity is being increasingly adopted as a practice in hospitals to ease processing at every functional level. Healthcare companies and organizations are actively integrating healthcare IT to aid cost reduction, secure patient information and allow for only authorized access.
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Use of mHealth, and electronic health record is increasing rapidly globally. With the use of digital platforms, data security becomes critical as underlines by the Health Insurance Portability and Accountability Act (HIPAA) of 1996. These factors would augment growth of healthcare biometrics market at a rapid rate. Use of fingerprint biometric technology is high, owing to its ease of operation. Moreover, it is a primary biometric technology and is also used by mobile device manufacturers. Use of biometric also finds benefits in providing access to functional departments and documents.
Deployment of biometric systems in healthcare sector is high in developed economies of North America and Europe to ensure effective fraud prevention and securing patent data, especially for those enrolled in clinical trials. Increasing instance of insurance fraud and growing demand for enhanced security of patient data is expected to create a highly conducive environment for growth of the market in the foreseeable future. Celerion—a clinical research service provider—has implemented fingerprint biometric technology in early 2017 to ensure that participants are not enrolled in more than one clinical study at a time. Biometric access control specialist, ievo Ltd, based in the U.K., partnered with Keytracker Ltd. (also based in the U.K.) in February 2017, to offer restricted key access system to the healthcare and construction industries. The fingerprint based technology is intended to provide access to drug storage area only to the authorized personnel. Such collaborations are imperative in global healthcare biometrics market for market expansion.
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Key takeaways of the healthcare biometrics market:
The global healthcare biometrics market is expected to expand at a CAGR of 23.4% during the forecast period (2016–2024) as there exists a huge unrealized market especially in Asia Pacific, Latin America, Middle East and Africa
The fingerprint technology dominates the market in the technology segment as it is the primary biometric technology developed and focused by mobile health device manufacturers
Different screening technologies such as iris, and vein recognition are expected to gain traction with growing awareness and increasing application areas
Hospitals and healthcare institutions are the major end users of biometric systems as these organizations deal with a huge database and many functional departments to be accessed securely
Some of the major players involved in global healthcare biometrics market include BIO-key International, Fujitsu Limited, MorphoTrust, 3M Cogent, Inc., Imprivata, Inc., Crossmatch Technologies, Inc., NEC Corporation, Hitachi Ltd., Integrated Biometrics, and Qualcomm Technologies, Inc.
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Nuclear Medicine/Radiopharmaceuticals Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024
Radiopharmaceuticals are unique medicinal formulations that contain radioisotopes and are used in clinical applications for diagnosis and therapy. The facilities and procedures for production, use, and storage of radiopharmaceuticals are subject to license approval either by national or regional authorities such as Nuclear Regulatory Commission (NRC) of U.S, Atomic Energy Commission (AEC) of U.S., or Atomic Energy Regulatory Board (AERB) of India. Licensing includes compliance regarding pharmaceutical preparations and use of radioactive materials.
A radiopharmaceutical preparation is a medicinal product in a ready-to-use format containing a radionuclide suitable for human use. A kit for radiopharmaceutical preparation encloses a vial containing the non-radionuclide components of a radiopharmaceutical preparation in a sterilized and validated form, to which the appropriate radionuclide is added. Radiopharmaceuticals derived from the kits are intended to be used within 12 hours of preparation.
Technetium-99m – Widely used Radioisotope in Diagnostic Procedures fueling growth of the radiopharmaceuticals market
There are over 40 radioisotopes available for use in different therapies. Technetium-99m is the most widely used radioisotope in the diagnostic procedures. Technetium-99m is used as a radioactive tracer, and can be detected in the body by medical equipment (gamma cameras). It is well suited to the role, as it emits readily detectable gamma rays with photon energy of 140 keV. According to International Atomic Energy Agency, over 80% of the total nuclear diagnostic procedures performed worldwide use Technetium-99 as a radiotracer each year and hence, propels the radiopharmaceuticals market growth.
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Radiopharmaceuticals use in Diagnostic and Therapeutic Application fuels growth of the nuclear medicine market
The chemical and physical identity is of vital importance, as during administration it targets certain tissues, binding sites, and biochemical pathways. The market is divided into two major areas, namely, diagnostic and therapeutic. Therapeutic applications of radiopharmaceuticals market include cardiology (myocardial perfusion), oncology (tumor imaging and localization), and neurology (cerebral perfusion). Radiopharmaceuticals such as iodine-131 or iodine-125 labeled m-iodobenzyl guanidine (MIGB) are used to treat pheochromocytoma and neuroblastoma. The therapeutic segment nuclear medicine market can be further sub-segmented on the basis of procedure into beta emitters, alpha emitters, and brachytherapy.
The diagnostic segment of radiopharmaceuticals market is classified into SPECT and PET. Single photon emission computed tomography (SPECT) adoption has grown steadily over the last decade and is used in the study of cerebral blood flow imaging. Positron emission tomography (PET) is a functional imaging technique used to observe metabolic processes in the body. System detects pairs of gamma rays emitted by a positron emitting radionuclide. SPECT radioisotopes are used for diagnosis of diseases such as cancer, cardiovascular diseases, and thyroid and neurological disorders.
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Radiopharmaceuticals – Used in Hospitals for Diagnosis
End users of radiopharmaceuticals include hospitals, research institutes, and diagnostic labs. These can be used in hospitals for diagnosis and detection of various diseases such as bone-related pathology, bone pain, stress fracture, bone infections, and spread of cancer in the bone. They are also used in detection and scanning such as in neurology and cardiology.
Application of Radiopharmaceuticals across the Globe
Radiopharmaceuticals are widely used in North America, mainly due to availability of advanced healthcare infrastructure, technological advancements, superior medical facilities, and supportive government support. These are also widely used in Europe due to new procedures for diagnosis of diseases and robust medical infrastructure in the region. Radiopharmaceuticals market is projected to witness rampant growth in Asia due to rapid rise in research work in the sector and rising public awareness.
Key players involved in Nuclear Medicine market
The market is fragmented, with the presence of various major players such as Kimberly-Clark Corporation, Eli Lilly and Company, Lantheus Medical Imaging Inc., Ampio Pharmaceuticals Inc., GE Healthcare, Piramal Imaging, Covidien Plc., Cardinal Health, Iso Tex Diagnostics, Inc., Jubilant DraxImage Inc., Bayer HealthCare Pharmaceuticals Inc., Bracco Diagnostic Inc., Navidea Biopharmaceuticals, Nordion Inc., Spectrum Pharmaceuticals, Inc., Mallinckrodt Plc., Bio-Nucleonics Inc., and IBA-Molecular.
Conclusion
Growth of the radiopharmaceuticals market is projected to witness rapid traction in the near future due to its high potential in diagnosis and detection of diseases related to cardiology, neurology, and oncology. Developed regions are expected to be highly lucrative markets for this technology, due to the high capital investment involved and availability of advanced medical facilities in these regions. Major players in the global Positron Emission Tomography (PET) scanners market are concentrating on enhancing their global and regional presence through strategic operational expansion and collaborations with regional players.
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Urine Collection Bags Market - Global Industry Insights and Forecast till 2025
Urine Collection Bags Market Overview :
Urinary collection bag is a medical product that helps in collecting urinary output, which is required for long term medical care or urinalysis, which includes detection of urinary tract infection. Urinary collection bags are required when a patient is admitted to hospital for long period. Urine collection bag is a backup to bladder urine collection system. Furthermore, urine collection bags are used in military fighter aircraft or during spaceflight, which are not equipped with toilets as pilots need to empty their bladder during several hours of aircraft fly and urine collection bags are also used among the patient suffering from urinary incontinence disorder.
Urine collection bags help to reduce the contamination of urine sample by pathogens reducing the risk of odor and leakage. Urine collection bags are made up of non-toxic, soft and resistant material, which can be used during travels where there is no availability of toilets.
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Urine Collection Bags Market Taxonomy
By Product Type
Urinary Leg Bags
Urinary Bedside Bags
Urinary Belly Bags
By Raw Material Type
Silicone
Plastic
Rubber
By End User
Home Care Settings
Nursing Facilities
Private Clinics
Diagnostic Laboratories
Hospital
Rise in number of urinary bladder disorders fuels the urine collection bags market
Urine is collected in urine collection bags attached to a catheter inside the bladder. Mostly Urine collection bags are used for urinary incontinence, which is involuntary leakage of urine, inability of patient to urinate called urinary retention, surgery where catheter is necessary, and urinary tract infections, which favors the growth of urine collection bags market. According to Australian Institute of Health and Welfare report in 2006, urinary incontinence affects up to 13% of the Australian men and 37% of the Australian women.
Furthermore, modifications in the design of urine collection bags for precise groups of pathogens such as bacteria, virus, chlamydia and parasites favors the growth of market. Also, urine collection bags helps to avoid leakage during transportation inhibiting contamination for 48 hours without refrigeration.
Regional growth engines for urine collection bags market
Depending on geographic region, urine collection bags market is segmented into various region such as North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to favor the growth of market due to high incidence of chronic diseases. According to Centers for Disease Control and Prevention, 117 million people had one or more choric health conditions in the U.S. in 2012. Developing nations in regions, such as Asia Pacific, Middle East, and Africa is expected to grow in urine collection bags market.
Furthermore, Africa is also expected to fuel the market growth, due to increase in awareness about personal hygiene and rise in healthcare standards.
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The key players dominating the global urine collection bags market
Providers in the market offer a broad range of urine collection bags. Increase in adoption of market strategies, such as online marketing, innovation in product, and advanced technology competition in market is increased. Some of the key players operating in global urinary collection bags market are Medline Industries, Inc., Teleflex, Boston Scientific Corporation, Coloplast Ltd., B. Braun Melsungen AG, CR Bard Inc., Hollister Incorporated, Medtronic, Cook Group Incorporated, Thermo Fisher Scientific Inc. and Becton, Dickinson and Company.
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Gumboro Disease Market - Growth, Trends, and Forecasts (2017–2025)
Gumboro disease also called as Infectious bursal disease (IBD) is a viral disease caused by Infectious Bursal Disease Virus (IBDV), which mostly targets the immune system of chickens. This disease was first observed in area Gumboro of Delaware, U.S.A., so called as Gumboro disease. It can be seen in turkeys and ducks without immunosuppression. It is a highly contagious disease occurring in chickens older than 3 weeks. Infected chicken may have the symptoms such staining of feathers around the vent with feces and several urates, ruffled feathers, anorexia dehydration in the pectoral, thigh and abdominal muscles, and impaired kidneys by chronic urate diathesis. Subclinical infection might results in deficiency in immunological response to Infectious Bronchitis, Newcastle disease, Marek’s disease, and susceptibility to gangrenous dermatitis and Inclusion Body Hepatitis. Supplement of multivitamin and facilitating access to water might help in curing the disease, as treatment of this disease is not available. Preventive measures such as vaccination helps in the Gumboro disease.
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High transmission rate of gumboro disease and rising need to prevent it, are the important factors contributing to the growth of gumboro disease market
Increasing prevalence rate of Gumboro disease is affecting the poultry industry drastically. This is a contiguous disease and it is easy to transmit through all the poultry area, as infected chickens sheds the infection in their feces resulting in to the loss of poultry business. Treatment requirement for Gumboro disease to reduce loss is driving the growth of Gumboro disease market. According to the data published by Science Alert in 2013, economic loss due to Gumboro disease in Nigeria for 2009, 2010, and 2011 accounted for more than 3 billion Nigerian currency. According to the data published by Centre d’etudes et de Recherché, Belgium in 2000, the mortality rate due to Gumboro disease in the U.S. was 5% whereas in Japan and Europe the rate is high 50% to 60% in laying hens and 25% to 30% in broilers.
However, increase in research and developments with new vaccines in the pipeline for the prevention from Gumboro disease is expected to propel the Gumboro disease market. For instance, the Transmune IBD vaccines available by CEVA manufacturers has proven effective for Gumboro disease.
New vaccine development and their effective results are accounting for the larger share of vaccine segment in gumboro disease market
The global gumboro disease market is segmented by species type, by vaccines type and by region
On the basis of species type, the Gumboro Disease Market is segmented into:
Broilers
layers
On the basis of vaccines type, the Gumboro disease market is segmented into:
conventional vaccines
antibody/ antigen complex vaccines
vectored vaccines
High rate of chicken consumers in North America is the driving factor for gumboro disease market in this region
Regional segmentation of Gumboro Disease Market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds the major share in the Gumboro disease market due to the high prevalence of gumboro disease and increasing investment in the research and development. The U.S. is the largest broiler chicken industry in the world. According to National Chicken Council, in 2015, there was around 9 billion production of broiler chicken in the U.S. The chicken consumers are more in this region than any other regions in world, so the chances of poultry industry getting affected by Gumboro disease and loss caused by it is more in America, which is driving the growth of gumboro disease market in North America.
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Rapid development in the field of vaccinology and novel biotechnology tools are helping the industry players to progress in the gumboro disease market
Key industry players operating the Gumboro Disease Market includes Ceva, ROMVAC Company SA, PTSanbe Farma, Jiangyin Caina Technology co. limited, Cios Co., Salfarm Danmark A/s., Vetbiochem, and others. Growing research and development in the vaccine technology field and increase in rate of gumboro disease is encouraging the vaccine manufacturers to invest in gumboro disease market. Rapid development in the area of immunology, animal science, and biotechnology is giving rise to new biotechnology tools for helping the industry players to sustain in the gumboro disease market.
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Anxiety Disorders and Depression Treatments Market- Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
The anxiety and depression are known to be the most common forms of psychiatric disorders from which a large population is affected across the globe. . Depression is the most common type of mental disorder encountered in the global population, while anxiety refers to the reaction of an individual during stressful situations. Anxiety disorders are more than normal worry or fear. For a person suffering from anxiety, the anxious phase of the individual does not get over and instead worsens over time. This anxious disorder can affect daily activities such as school work, relationships and job performance. The anxiety related disorders include generalized anxiety disorder, social anxiety disorder and panic disorder. Moreover, depression refers to a common but serious mood disorder. It is related to a state of emotion that affect thoughts, actions and the sleeping pattern of an individual. The severity of anxiety and depression ultimately results into disorders such as phobias, post- traumatic stress disorder, panic disorder and obsessive compulsive disorder.
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Mental illness encountered at high rates across the globe
The accelerating prevalence of anxiety and depression are responsible for massive consumptions of anti- depressants, promoting the growth of the global anxiety disorders and depression treatments market. According to the fact sheet of the World Health Organization (WHO) in 2017, over 300 million people of all ages globally are suffering from depression, wherein 800,000 people die due to suicide, of which, anxiety disorders and depression are a prime cause. Moreover, according to the Anxiety and Depression Association of America, anxiety disorders are reported to be the most common mental illness disease in the U.S., affecting nearly 18% of the population. The association also mentions that these disorders are highly treatable thereby propelling opportunities in the global anxiety disorders and depression treatment market
The global anxiety and depression treatment market is segmented on the basis of class of drug, distribution channel and geography.
On the basis of drug class, the global anxiety and depression treatment market is segmented as
SRIs (Selective Serotonin Reuptake Inhibitors)
SNRIs (Serotonin-Norepinephrine Reuptake Inhibitors)
TeCAs (Tetracyclic Antidepressants)
TCAs (Tricyclic Antidepressants)
MAOIs (Monoamine Oxidase inhibitors)
Atypical Antipsychotics
Benzodiazepines
Anticonvulsants
Beta-Blockers
Others
Based on the distribution channel, the global anxiety and depression treatment market is segmented as
Pharmacies
E-Commerce
Asia Pacific expected to exhibit rising anxiety disorders and depression treatment market due to changing lifestyles
On the basis of geography, the global anxiety and depression treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. North America is the largest market of anxiety disorder and depression treatment owing to a huge populace suffering from anxiety, stress related disorders, depression and also due to the availability and saturation of the U.S. antidepressants market. According to the Mental Health America, in 2014, 1 in every 5 adults have a mental health condition and the condition is observed to be worsening at rapid rates in youth. Additionally, work and life related stress as well as changing lifestyles in the emerging economies such as India and China are also potential targets of the global anxiety disorders and depression treatments market.
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Antidepressants sales contributing to almost half of the total drug sales across the globe
The antidepressant drugs holds almost a share of 50% in the global pharmaceutical market. Advanced techniques to treat mental illness such as brain stimulation by using medical implants as well as use of smartphone based applications like virtual reality exposure therapies, are helping to boost the global market. However, the side effects of the antidepressants, adoption of alternative therapies and devices to treat mental illness are obstructing the growth of the global anxiety disorder and depression treatment market.
The key players operating the global anxiety disorders and depression treatments market are Pfizer Inc., GlaxoSmithKline Plc., H. Lundbeck A/S, Eli Lily and Company, Inc., Merck and Company, Inc., AstraZeneca Plc, Forest Laboratories, Sanofi Aventis and Johnson and Johnson. The companies are indulged in operations such as partnerships, merger and acquisition as well as research and development partnership in order to sustain in the competitive market.
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Wearable Medical Devices Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
Wearable Medical Devices Market Overview :
Wearable medical devices consist of sensors attached to the body, which detects and monitor changes in different parts of body and organ. Increase in awareness and health facilities and advancement in technology and innovation in the devices, are some of the factors propelling the wearable medical devices market growth. Smart watch, wristband, and smartphones are some of the wearable medical devices which are targeted by the companies. This is owing to factors such as their high demand and user friendly approach, and it also reduces hospital based expenditure. In near future technology is expected to play a major role in healthcare services. These devices help pharmaceutical companies in conducting valuable clinical trials. Wearable medical devices are available in wide range having different functions such as alerting mechanism, real-time feedback, and wireless data transmission.
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Wearable medical devices market taxonomy
On the basis of type, the global wearable medical devices market is segmented into:
Diagnostic Medical Devices
Therapeutic Medical Devices
On the basis of site of use, the global wearable medical devices market is segmented into:
Handheld
Shoe Sensor
Headband
Wrist Worn
On the basis of application, the global wearable medical devices market is segmented into:
Remote Patient Monitoring
Sports and Fitness
Innovation in technology and increase in healthcare awareness is driving market growth
Rapid advancement in technology leads to innovation in existing product and introduction of new products. Increase in health concerns, sedentary lifestyle, and rise in awareness regarding health and fitness drives the wearable medical devices market growth. Furthermore, increase in geriatric population and constant increase in lifestyle disease fuels the market. According to the United Nations Department of Economic and Social Affairs, the global geriatric population is expected to increase by 56%, from 901 million to 1.4 billion over the period of 2015-2030. Major companies concentrate on user friendly wearable medical device with various features such as Bluetooth, wireless connectivity, and long battery life. There is tremendous increase in chronic diseases such as diabetes and respiratory diseases, which has increased the use of wearable medical devices. These devices are used to record heart rate, temperature, steps taken by the patient, and glucose level of the body. According to Centers for Disease Control and Prevention (CDC), in 2014, around 21 million people are diagnosed with diabetes in U.S. According to the report published by Insights Association, it is expected that wearable medical device market may reach to US$ 53 billion, with annual growth of 25-35% through 2015-2018.
Developed regions are major growth engines of the wearable medical device market
Regional segmentation of wearable medical devices market by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America dominates in the wearable medical devices market. Asia Pacific is expected to drive growth of wearable medical devices market over the forecast period, owing to technological advancement and increase in geriatric population in emerging countries such as India, China, and Japan. According to World Economic Forum, it is expected that geriatric population of Asia Pacific will exceed 2 billion by 2050. This is owing to factors such as rise in chronic diseases especially diabetes, increased awareness regarding the use of continuous glucose monitor, and increasing healthcare investments.
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Key players to support the growth of wearable medical devices market
Various players present across the globe which are running into the competition of innovation, improved product, and user-friendly approach. Some of the major players operating in the wearable medical devices market include Life Watch AG, Google Inc., Apple, Medtronic Plc., Omron Corporation, Philips Healthcare, and Polar Electro.
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