TMR Research: December 2016

Friday, 30 December 2016

ECG Monitoring Systems Market Size - Global Industry Analysis and Forecast - 2016

Transparency Market Research has released a new research report in the domain of the global healthcare and medical devices industry, titled “ECG Monitoring Systems Market - Global Industry Analysis By Type, Size, Share And Forecast 2011 - 2016”. The report’s critical analysis is intended to address the user’s need to discover the trends affecting the development of the global ECG market’s dynamics in order to formulate a successful market strategy.According to the report, the global ECG monitoring systems market is currently growing at a CAGR of 7.6% between the period 2011 and 2016. Taking into account the market’s 2010 worth, it should reach US$822.1 million in 2016.

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“We can expect to see a growth in the overall shipment of ECG monitoring systems to 374.8 thousand units in 2016, from its 2011 figure of 262.1 thousand units,” said a TMR analyst, “This is a potential CAGR of 7.4% from 2011 to 2016.” He also said that of the various types of ECG monitoring systems used, rest ECG monitoring systems dominated the market in 2011 in terms of revenue. Stress ECG monitoring systems, on the other hand, had the highest selling price.The report says that the growing prevalence of cardiovascular diseases around the world is the biggest driving factor of the global ECG monitoring systems market. It emphasizes the fact that cardiovascular diseases are the largest cause of deaths globally.

In 2008, nearly 17.3 million people died from cardiovascular diseases, a whopping 32.8% of all deaths that year. Of the 17.3 million, 6.2 million died from stroke and 7.3 million died due to coronary heart disease. The report also cites a projected increment of deaths due to cardiovascular disease to 20.5 million in 2020.This statistical rise of life-threatening issues due to cardiovascular diseases has prompted an increase in the market for ECG monitoring systems. The report says that people all over the world are becoming increasingly health-conscious, which, when combined with an increasing per capita income, results in a larger number of people being willing and able to buy ECG monitoring systems for their physical health.

The U.S. is the leading country in the global ECG monitoring systems market with a market revenue of US$167.8 million recorded in 2011. Within the U.S., the report says that the total number of Holter monitor tests conducted will grow at a CAGR of 8.9% in the forecast period. Event monitor tests in the country are also expected to grow at a CAGR of 3.1% in the same period. The total shipments in the global ECG monitoring systems market for the U.S. alone are predicted to increase to 94.6 thousand units in 2016. Other countries included in the report include Germany, where the market for ECG monitoring systems recorded revenue of US$54.9 million in 2011.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Surgical Rejuvenation Market Analysis and Forecasts, By Product Type 2023

Surgical Rejuvenation Market: Overview

Surgical rejuvenation is a medical method focused on the practical reversal of the aging process or repair of impaired tissue with new tissue. Aging is a assembling of impairment to macromolecules, cells, tissues and organs. If any of that damage can be fixed, the outcome is rejuvenation. Rejuvenation is one of the life extension strategies. Surgical methods for rejuvenation are generally performed for face, skin, vagina, eye, hand.

Facial rejuvenation is a non-invasive or minimally invasive cosmetic treatment (often accomplished over numerous sessions). The treatment aims to re-establish skin elasticity and help preserve a youthful presence on the face and neck region. Facial rejuvenation procedures are performed by beauty clinics, hospitals and full-service spas. The process is supported by the supervision of a dermatologist and plastic surgeons.

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Vaginal rejuvenation generally incorporates vaginoplasty i.e., tightening of the vagina and/or labiaplasty or vulvaplasty. Vulvaplasty is restructuring of the vulva or labia, the outer and inner lips of the vagina. It has become a progressively common option for women. For individuals who wish recon touring after childbirth, substantial weight loss, elderly or grievance to genital structures, vaginal rejuvenation offers increased self-confidence and comfort. Conditions that can be treated with skin rejuvenation are wrinkles, pigmentation, scars, vascular conditions and vascular conditions.

Microneedling therapy or collagen induction therapy (CIT), and percutaneous collagen induction (PCI), are minimally invasive skin-rejuvenation techniques that includes the use of a device that comprises fine needles.

Surgical Rejuvenation Market: Growth Enablers

Early appearance of elderly and increasing adoption of less painful minimally invasive rejuvenation techniques are major aspects driving the growth of the global surgical rejuvenation market. Other trends include easier access to treatments, rising affordability, growing awareness about new innovative and less painful techniques, deeper penetration of beauty merchandises in the local markets, demand for faster results and shorter treatment duration preferred by patients. However, the lack of standardized regulations is leading to an arrival of many local companies in both the developed and developing regions. Furthermore, the absence of documented and approved product effectiveness is also hampering the growth of this market.

Surgical Rejuvenation Market: Regional Insight

Geographically, the global surgical rejuvenation market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and Rest of the World (RoW). North America followed by Europe accounted for the major market share for surgical rejuvenation due to the technical developments in the medicine and surgery field. These developments have enabled surgeries to be non-invasive and less painful. As the financial condition of developing countries has gradually improved, the disposable income in the hands of citizens has also improved drastically in recent years. This has led to a rise in the expenditure on luxuries such as facial rejuvenation.

The growing complexity of surgical rejuvenation procedures, which has led to the development of pain-free and effective non-surgical techniques, is expected to hamper the demand for surgical rejuvenation. Asia Pacific, followed by Latin America are expected to exhibit the highest growth rate due to rising development, increase in disposable income, growing healthcare industry and the presence of a large patient population in these regions. However, unfavorable reimbursement scenario and increasing cost of surgical procedures are some of the factors that might hinder the growth of surgical rejuvenation market.

Surgical Rejuvenation Market: Key Players

Some of the key players in the surgical rejuvenation market are: Merz GmbH & Co. KGaA, Lumenis, Mentor Worldwide LLC, Cynosure, Inc., Gal derma S/A, Alma Lasers, and Strax Rejuvenation.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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Thursday, 29 December 2016

Global Analysis for Ophthalmic Optics Instrument Market Trends & Forecast 2023

Ophthalmology is the branch of science that is concerned with the physiology, anatomy and disease of the eye. Similarly, ophthalmic optics include any optics pertaining to eye such as contact lenses, intraocular lenses, spectacle lenses, refractive surgery and optical instruments that are used for the examination of eye. The ophthalmic optics instrument market has witnessed impressive growth in the past few years due to technological advancements which is helping the patients to regain their lost vision. Infections, inflammations and defects in the vision might result in partial or complete loss of vision. Thus, various ophthalmic instruments play a vital role in vision restoration as eyes are one of the most crucial sensory organs.

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The market for ophthalmic optics instrument can be segmented on the basis of type of surgery devices, diagnostic devices and vision care. The surgery devices segment can be classified into cataract surgery devices, refractive surgery devices, glaucoma surgery devices and vitroeretinal surgery devices. The diagnostic devices segment can be classified into tonometer, slit lamps, fundus cameras, autorefractometers, keratometers, optical coherence tomography (OCT) systems, gonioscopes, ophthalmic echography, fluorescein angiography, perimeters, pachymeters, specular microscopes, corneal topographers and others. Vision care segment can be categorized into spectacle lenses and contact lenses. Refractive surgery devices market can be further split into excimer laser, YAG laser, femtosecond laser and microkeratome. The market report on ophthalmic optic and instruments can be further classified into four geographies namely North America, Europe, Asia-Pacific and Rest of the World.

The market for ophthalmic optics and instrument holds an immense potential due to technological innovation and continuous rise in geriatric population. Furthermore, growing awareness among the patients for effective diagnostic platforms, improved healthcare infrastructure and increasing penetration of minimally invasive surgeries are also held as major reasons for the growth of ophthalmic optics and instrument market. The market is also being triggered by aging population which is more prone to eye disorders is further expected to boost the growth of this market. However, high cost, economic slowdown and issues with reimbursement policies are some of the reasons that are anticipated to hamper the growth of ophthalmic optic instruments market.

Geographically, North America accounts for the largest share of the ophthalmic optic and instruments market followed by the European region. The dominance of these regions in this market is seen due to technological advancements and presence of well trained ophthalmologists. Further, increasing awareness among patient population, improved healthcare infrastructure and rising prevalence of cataract surgeries are other reasons due to which market is expected to show healthy growth. However, in the near future the U.S market is expected to decline its market share owing to market maturity. Asia-Pacific is expected to show healthy growth in the near future due to improving healthcare infrastructure in the regions of India, China, Japan, Singapore and Vietnam. Additionally, aging population which is more prone to ophthalmic disorders and growing disposable income in the Asian region are also indentified as another major driver that is augmenting the demand of ophthalmic optics and instrument in this region.

Carl Zeiss Meditec AG, Alcon Inc. (A Novartis Company), Haag-Streit AG, Topcon Corporation, Ziemer Ophthalmic Systems AG, Nidek Co. Limited, Bausch & Lomb Inc, Shenzhen MOPTIM Imaging Technique Co., Ltd, Canon, Hoya Corporation, STAAR Surgical Company, SynergEyes, Inc., CooperVision, Essilor International and others are some of the major players operating in ophthalmic optics instrument market.

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Biological Implants Market Analysis and Forecasts, By Product Type 2023

Biological implants play a crucial role in routine clinical practices. These implants help in replacement or stabilization of injured tissue either permanently or transiently. Repairing non-unions, fixing fractures, lens prosthesis, total joint replacements, ocular implants, soft tissue repair, cochlear implants, and spinal reconstruction are some of the major applications of the biological implants. The major challenge faced with the use of biological implants id their ability to stimulate tissue regeneration which now a days is of greater scientific interest and constitutes a key expanding field. Another challenge for the biologic implants, rapidly entering the marketplace is to undergo FDA regulations and reporting of adverse events.

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Accidents on road and violence are a major cause of trauma which includes serious bone damage and internal bleeding. According to W.H.O. 3,400 deaths occur worldwide due to road accidents, and millions are injured who require medical attention. India ranks highest in the road accidents due to over populated roads and poor roads, and lack of traffic security. Accidents caused injuries lead to loss of appendage and serious fractures of extremities, cranial and spinal fractures. There is also a rise in two wheeler users in India who are more vulnerable to accidents. Sports like bike and car races, football, ice skiing, ice hockey, basketball, baseball, rugby, football, horse racing, and others which involve intense physical activities are also a major cause of joint replacement and trauma. The figures are more concerning in the lower age group. Around 3 million children under the age group of 14 are injured annually in sports activities.

The global biological implants market can be segmented based on origin, applications, and geography. Applications segment comprises cardiovascular, orthopedics, neurological, nephrological, dental, ophthalmic, urogenital and others. Origin of biological implants consists of allograft or xenograft. Geographically, North America is expected to be the largest regional market for biological implants due to an increase in orthopedic procedures, rise in incidence of obesity, rising incidences of road accidents and introduction of technologically advanced products. North America is a potential market for advanced products manufactured through innovation and transforming biomaterials technology. The region is anticipated to be followed by Europe owing to the rising demand for biological implants, especially in the orthopedic and cardiovascular applications.

According to the Centers for Disease Control and Prevention (CDC), high school athletes alone account for 2 million injuries, 50,000 doctor visits and 30,000 hospitalizations each year in the U.S. alone. Rise in youth sports injuries is fueled by an increase in overuse of the joints and repeated small trauma injuries. In addition, baby booming population in the U.S. is able to exercise under medical supervision; and may have to undergo surgeries such as hip and knee replacements, surgery for cartilage damage and others. The most common injuries include ankle sprain, plantar fasciitis, shoulder sprains and strains, rotator cuff tears and knee injuries. Thus, growing awareness about sports and exercises has led to rise in injuries and consequently a greater demand for biological implants.

Emerging economies in Asia Pacific and Latin America hold immense potential for the biological implants owing to their increasing population coupled with the presence of high unmet medical needs and rise in healthcare related customer expectations brought about by improvement in economic conditions. Rising per capita and disposable incomes have boosted the growth of the market in these regions. Additionally, the uncertain economic situation of the U.S. and Europe has compelled manufacturers to explore these potential emerging markets through acquisitions and collaborations.

Alphatec Spine, Inc., Allergan, Biomet, Inc, C.R. Bard, Globus Medical, Integra Lifescience Corporation, NuVasive, Regeneration Technologies, Inc., and Stryker Corporation are some of the key players in the global biological implants market.

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Tuesday, 27 December 2016

Global Inferior Vena Cava (IVC) Filters Market Trends and Industry Forecast by 2023

“Inferior Vena Cava (IVC) Filters Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” a new report by Transparency Market Research, explains the current trends being followed in the manufacture, distribution, and usage of IVC filters. It also assesses how these factors are expected to influence the market’s future.

The biggest factor guiding the growth rate of the global inferior vena cava (IVC) filters market is the increasing count of patients suffering from cardiovascular diseases. This is corroborated by global health agencies such as the World Health Organization. According to the WHO, nearly 17.3 mn people died from CVD in 2008. By 2030, a predicted number of 23.3 mn will be reached.

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The global inferior vena cava filters market will therefore need to ramp up manufacturing as well as research and development efforts in order to supplement this high growth rate of patients. Common factors leading to the growing cases of CVD include unhealthy diet and lifestyles and high stress levels in urban areas.

Another driver for the global inferior vena cava filters market is a high level of government support. For instance, the U.S. FDA in 2014 had released the results of a study on the U.S. inferior vena cava filters market. Included with the study was data pertaining to the risks and rewards of using IVC filters. According to the study, an IVC filter will significantly reduce the risk of a pulmonary embolism in a CVD patient. Similar studies have been performed across the world through government aid, further promoting the growth of the global inferior vena cava filters market.

The global inferior vena cava filters market is expected to benefit greatly from the high amount of R&D efforts being put into device innovation. A lot of the new technologies being introduced to IVC filters are expected to improve their quality and ensure patient health. However, the market is expected to be hindered in the immediate future by high product costs.

From a geographical perspective, the global inferior vena cava filters market has been dominated by a steady North America, due to high demand from a larger percentage of CVD patients to the rest of the world. The second-highest demand for IVC filters comes from Europe, owing to reasons similar to North America: increasingly unhealthy lifestyles and a growing geriatric population.

Some of the key players in the global inferior vena cava filters market are Abbott Laboratories, 3M Healthcare, Cardiva Medical, Inc., Fudan University Zhongshan Hospital, Biosensors International Group, Ltd., Arterial Remodeling Technologiesuscome Limited, All Pro Corporation, Accellent, Inc., Lidco Group Plc, Fukuda Denshi Co., Ltd., and Baxter International Inc.

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Global Resectoscopes Market Size and Industry Analysis 2015 - 2023

Resectoscopes are surgical instruments used in procedures of uterus, prostate, bladder, or urethra. Resectoscopes are primarily used for tissue extraction and removal of masses or growths (fibroids) and damaged tissues. Resectoscopes comprise a camera (such as a wide angle microscope) and extraction instrument (wire loop) which enables surgeons to visualize surgical site and perform surgery through the same incision. Use of resectoscopes in urogenital procedures decrease healing time, reduces surgical trauma, and provides minimally invasive treatment options for the patient.

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Increasing prevalence of urinary/urogenital diseases such as benign prostatic hyperplasia (BPH), urinary incontinence, urinary tract infection and hematuria have created immense demand for resection procedures and consequently for sophisticated resectoscopes. As per the U.S National Library of Medicine, 60% of men over the age of sixty and 80% of men over the age of 80 have been diagnosed as BPH patients who require transurethral resection of the prostate (TURP). Resectoscopes have been demonstrated to be efficient, cost-effective and, most importantly have a low rate of post surgical infections. Current technical advancements such as bipolar, roller ball, roller barrel and cutting loop electrodes, along with video-capabilities have substantially increased the acceptance of resectoscopes in surgical procedures. Visual, hands-on access to the surgical sites and immediate removal of excess tissue is some of the technical advancement of resectoscopes over other available equipment for visualization and removal of tissues. However, recent technological advances to reduce the invasive aspect of surgical treatments of urogenital diseases such as lasers, microwave, radio waves, Photoselective laser vaporization of the prostate (PVP) and ultrasound would restrain the resectoscopes market to some extent.

One perspective of analyzing the market is based on type of electrode used in resectoscopes. Monopolar, bipolar, grooved roller, roller ball, roller barrel and straight cutting loop are some major electrodes that are widely used in resectoscopes.

Based on geography, the resectoscopes market has been analyzed for North America, Asia-Pacific, Europe, and the Rest of the World (RoW). North America and Europe held the largest shares in terms of market revenue of the global resectoscopes market in 2013. The primary reasons for North America and Europe holding the leading positions in the global resectoscopes market are high prevalence of urogenital diseases such as BPH and benign prostatic obstruction (BPO), and well established healthcare infrastructure in both the regions. According to the American Urological Association, 15 million men in the United States are symptomatic to BPH and in the approximately 150,000 people have TURPs performed each year. However, Asia-Pacific is expected to witness highest growth rate during the forecast period from 2014 to 2020. A number of factors such as increasing prevalence of urinary tract infections, aging population, increasing focus on research and development would be fuelling the growth of resectoscopes market in Asia-Pacific in coming years. According to the Department of Economic and Social Affairs, United Nations, 23 million individuals aged 80 years or over were living in China in 2013. The Department of Economic and Social Affairs further states that nearly 10 million and 9 million individuals aged 80 years or over were living in India and Japan, respectively in 2013.

Some of the major players in resectoscopes market include Olympus Corporation, Richard Wolf, Stryker Corporation and KARL STORZ GmbH & Co. KG.

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Global Dental Imaging Market by Product & Application - 2023

The global dental imaging market has seen a paradigm shift from analog film to digital technologies. Periodontal diseases, dentofacial anomalies and dental caries are among the major global oral health problems. The 21st century has brought revolutionary changes in the quality of the life, including the oral healthcare. As the future of the dentistry depends largely on the ability to incorporate new, better diagnostic and treatment modalities into clinical practice demand for novel dental imaging techniques are growing at a rapid pace. 3D intraoral scanner, 3 D printing and CAD - CAM technology have proven to be an alternative to the conventional imaging methods such as film or analog based imaging modalities. In the United Kingdom approximately 21 million radiographs are taken in primary dental care centers each year. With the advent of dental implants demand for cross sectional imaging has become a necessity in dental clinics and dental hospitals pertaining to accurate measurement for implant placement and circumventing damages to fragile anatomical structures.

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Although the first line of dental disease diagnosis relies mostly on the X-ray imaging yet modalities such as Magnetic resonance Imaging (MRI) and computer tomography (CT) are also growing at a rapid pace owing to its accuracy, clarity and ease of handling. Devices such as intraoral periapical and occlusal radiography are mostly used during initial phase of patient evaluation to detect the presence of pathosis and approximate location of anatomic structures such as maxillary sinus. Direct digital intraoral imaging is emerging as an alternative to film based radiography pertaining to its advantages such as rapid acquisition of images, storage, and transmission to remote sites. Furthermore lateral and oblique cephalometric radiography have proven to be a preferable option among dentists for obtaining images of maxilla and mandibular sites in the mid sagittal plane.

Three dimensional imaging techniques such as CT scan, tuned aperture CT (TACT), Cone Beam Computed Tomography (CBCT) and MRI provide additional benefits over conventional imaging techniques. These benefits encompasses low exposure to radiation, increased patient convenience, reduced operational cost and provides better control over implant diagnosis and treatment planning. 3D computed tomography is an advanced imaging technique wherein the images are digitally acquired and can be subsequently reformatted into any plane, such as axial, sagittal or coronal. Owing to such features demand for such novel devices is continuously growing across the globe especially in the developed economic regions such as the United States and Europe. Moreover tuned aperture CT (TACT) is mostly employed for dentoalveolar imaging. Benefits of TACT include ability to calculate projection geometry, use of low radiation dose and less damage to quality of image due to patient movement. Cone beam computed tomography (CBCT) technology yields images with isotropic submillimeter spatial resolution as a result; its use is perfectly suited for dental and maxillofacial cases. CBCT not only reduces the size and cost of CT scanners but also improves the resolution of the image with lesser amount of radiation dose than that used in CT scans. Key end users to the aforementioned instruments include dental clinics, dental laboratories, academic institutes, and forensic laboratories.

North America dominates the dental imaging market with the U.S. accounting for a major market share. The U.S. market is currently undergoing a rapid penetration of digital sensor technology which is cannibalizing market for intraoral X-ray analog film. Exclusive distribution agreement between digital sensor manufacturers and major distributors are also boosting the market for digital dental imaging instruments market in the United States. In contrast to the United States market, the European dental practices have much stricter regulations concerning X-ray radiation exposure to patients owing to which countries like the France, Britain and Germany already has an established installed base of digital scanners and imaging devices as compared to the United States. Asia Pacific and Rest of the World market is expected to have the fastest growth rate pertaining to rising awareness about oral health care, increasing disposable income and growing focus of prominent players on emerging market.

Some of the prominent players in the Dental Imaging market include Danaher Corporation, Midmark Corporation, LED Medical Diagnostic, Inc., Flow Dental Corporation, Planmeca Oy, Carestream Health, Sirona Dental Systems and others.

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Global Magnetic Resonance Imaging (MRI) Market By Analysis & Architecture 2024

The global magnetic resonance imaging market is a consolidated one, in which five large players dominated around 80% of the market from 2010 to 2012. The five key players are: Hitachi, GE Healthcare, Siemens Healthcare, Toshiba, and Philips Healthcare. Of them, GE Healthcare, Siemens Healthcare, Philips Healthcare, and Toshiba hold an almost equal market share – about 20%. Leveraging their brand image, product positioning, and acquisition of smaller players, the market leaders are further strengthening their positions in the global market. They have expanded their geographical footprint through collaborations and product distribution agreements.

The global magnetic resonance imaging market is expected to reach US$4,787.2 mn in 2017, expanding at a CAGR of 3.3% from 2012 to 2017. The growth has been driven mostly by technological advancements and an increase in the number of patients with cardiac diseases. The slow pace of expansion is on account of the 2008 economic meltdown, which dealt a severe blow to the market. It is, however, picking up pace gradually.

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A Highly Saturated Market Would Lead to Slow Growth in America

The market for magnetic resonance imaging can be segmented based on different parameters. On the basis of architecture, the market is divided into open and closed magnetic resonance imaging. An open magnetic resonance imaging is used mainly to diagnose the obese. The Americas dominate the open magnetic resonance imaging market on account of a significant population of the elderly who are increasingly aware of the benefits of early diagnosis and a spike in chronic diseases in this region due to obesity. In the closed magnetic resonance imaging market too, the Americas hold a leadership position on account of the high occurrence of chronic diseases in the region. Asian countries and those from the Rest of the World (RoW) such as South Africa and Egypt will exhibit a strong growth rate due to the rising investments in research and development and a higher allocation for the early diagnosis of diseases. The closed magnetic resonance imaging market is estimated to reach US$3,130.8 mn in 2017.

Depending on field strength, the magnetic resonance imaging systems market can again be categorized into low-to-mid-field magnetic resonance imaging, high-field magnetic resonance imaging, very-high-field magnetic resonance imaging, and ultra-high-field magnetic resonance imaging. The high-field magnetic resonance imaging segment has been most widely adopted in the magnetic resonance imaging systems market. By geography, the market can be divided into the Americas, Europe, Asia, and the Rest of the World (RoW). Technological progress and enhancements in the healthcare sector and high disposable income of people in the region have propelled the market so far. However, the market is saturated, on account of which, the growth rate will be sluggish. Asia and Rest of the World (RoW) will also exhibit promising growth in the upcoming years.

High Expenditure on Healthcare Facilities and Rise in Chronic Diseases Boost Market for magnetic resonance imaging

There are a number of factors driving the market for magnetic resonance imaging. Burgeoning population in emerging economies has led to an increased demand in healthcare needs, which in turn, has upped the demand for medical equipment such as magnetic resonance imaging systems. “The development of ultra-low-field magnetic resonance imaging is expected to further boost the demand by reducing the radiation risks associated with magnetic resonance imaging scanning,” says the analyst of the TMR report. Besides, the increasing spend on healthcare facilities, the wide adoption of advanced magnetic resonance imaging equipment in both private and state-owned hospitals, a growing population of elderly, and fast lifestyle of today’s youth have led to further market growth.

One of the major restraints in the market is cost. As per the analyst of the report, “The higher cost of magnetic resonance imaging systems as compared to other modalities forms a major factor limiting market growth. A low-field magnetic resonance imaging costs around US$500,000, while a high-field magnetic resonance imaging can cost as high as US$3 million. High system cost increases procedure costs for the patient. magnetic resonance imaging equipment also involves high installation and maintenance costs. For instance, the systems require radio frequency (RF) shielding and the helium used for cooling the magnetic resonance imaging coils also requires replacement every three years. Another major market restraint is the fact that hospitals have been refraining from new equipment purchases following the Deficit Reduction Act (DRA) in the U.S. and the EU’s awaited announcement about magnetic resonance imaging usage.”

This review is based on the findings of a TMR report titled “Magnetic Resonance Imaging (magnetic resonance imaging) Market: Global Market Analysis, Size, Share, and Forecast 2012 - 2017.”

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Global Computed Tomography Market Forecast, by Type 2016 to 2024

Global Computed Tomography Market: Overview

After being available in the market since the last decade, computed tomography (CT) has become highly popular. A non-invasive and painless medical imaging procedure, it provides a much more complete and accurate picture of the body than its predecessor, X-rays. On account of the aforementioned benefits, CT scan has come to be recognized as one of the best methods for detecting many different kinds of cancers.

The increasing popularity of the CT scans because of the benefits they accord, coupled with the rising ranks of health conscious people, is expected to boost the market. As per TMR estimates, the global CT market is expected to be worth US$5.6 billion in 2017, after clocking a healthy CAGR of 4.5%.

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The research study on computed tomography examines the market after segmenting it on parameters such as the type of CT machines used and geography. It details the current trends to predict the overall growth. It also leverages Porter’s Five Forces Model to understand the competitive dynamics of various segments. Aspects, namely market size, its growth drivers and restraints find a detailed mention in the report as well.

Global Computed Tomography Market: Trends and Opportunities

There are various reasons why computed tomography market has seen an impressive growth. Firstly, there has been an increasing awareness among a new breed of health conscious people, who understand the importance of preventive healthcare and demand accurate early diagnosis. Secondly, an alarmingly high occurrence of circulatory system, cardiovascular, inflammatory, and spinal diseases is also driving growth in the market.

Further, spurt in medical diagnostic procedures and technological advancements has also stoked the market. Depending upon the type of CT machines, for example, the market can be divided into the following: high end slice, mid end slice, and low end slice CT. The high end slice is slated to hold more than half of the market share by 2017 due to the 64-slice CT system it includes, which aids in accurate imaging of the heart. The multi-slice computed tomography (MSCT), further, introduced around six years back, offers high-speed, non-invasive, thin-slice diagnostic scanning for various purposes in radiology and cardiology, has seen soaring popularity.

Such technological advancements, alongside an aging population requiring medical imaging technology improvements, has fuelled adoption of image guided, less invasive procedures for diagnosis. The rising preference for automated workflows has also led to the growth in the market. Emerging countries are already making efforts to generate awareness about the advantages of CT machines. This alongside increasing disposable income of families has resulted in demand shooting up.

Computed Tomography Market: Major Segments

Geographically, the CT market can be divided into Asia Pacific, Europe, North America, and the Rest of the World (Row). Of them, the largest share of the market is commanded by North America, mainly on account of sweeping technological advancements and growing consciousness among the elderly, who are fast outnumbering other demographics. Europe follows next and holds a good amount in market share for the same reasons as North America does.

Asia Pacific, however, has been exhibiting maximum growth rate on account of growing demand for early diagnostic tools demanded in mushrooming healthcare facilities in the region. With a rapidly growing population in the region, the demand for healthcare has seen a dramatic rise in the region and led to both private and government players rushing in to meet the demand.

Companies Mentioned in the Report

To study the market’s vendor landscape, the report has profiled some of the most prominent enterprises operating therein. Some of the globally known, dominant purveyors in the CT market are Toshiba, Philips, Siemens, and GE.

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Monday, 26 December 2016

Global Tissue Banking Market Analysis, by End Users - 2024

Global Tissue Banking Market: Overview

Tissue Banking devices are used to store tissues in controlled environment for quality, safety and effective use in different disease treatment. The report on global Tissue Banking market, analyzes the current and future prospects of the market. The report consists of an executive summary that provides information about the products, its segments and sub-segments, along with a market snapshot and comparative analysis by geography, in terms of revenue %, for 2015.

Transparency Market Research estimates that the global tissue banking market will exhibit a promising CAGR of 11.3% from 2016 to 2024 to reach US$ 2.1 bn by 2024.

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Global Tissue Banking Market: Scope of the Report

A detailed overview of market dynamics, including the drivers, restraints, and opportunities of the Tissue Banking market, along with porter’s analysis, and value chain analysis, of the global market, has been provided in this report. Market revenue and volume analysis for all the above mentioned segments, and their sub segments has been provided for the forecast period of 2016-2024, considering 2015 as the base year, and 2014 as the historical year, along with compound annual growth rate (CAGR %), for the forecast period of 2016-2024. Market share estimations were based on in-depth analysis and study of products, and their features, prices etc. Pricing analysis, for every region has been provided considering the Average Selling Prices (ASP), of products, in these regions.

This report provides in-depth analysis of the Tissue Banking market. The stakeholders for this report include companies involved in the manufacturing of Tissue Banking devices. For providing a snapshot of this market to the stakeholders, executive summary section is included in this report, which summarizes the market size, trends and competition in different regions. Market share analysis among the market players is analyzed to signify percentage share of the major players operating in the Tissue Banking market. Furthermore, the report incorporates market attractiveness analysis by geography that depicts the most attractive and significant region in the global market in 2015.

The research methodology is a combination of primary and secondary research. Primary research includes information collected via e-mails, and telephonic interviews of Key Opinion Leaders (KOL), and forms the bulk of our research. Secondary research includes information collected from various sources, by study of company websites, annual reports, stock analysis presentations, press releases, and various national and international databases.

Global Tissue Banking Market: Segmentation

Based on Equipment type, the global Tissue Banking market has been segmented into Freezers, Storage system, Thawing Equipment, Labelling and Coding Equipment, Alarming and Coding equipment. Freezers are the highly growing market growing at a CAGR of % which is followed by storage system. Based on applications, the Tissue Banking are segmented into Clinical and Therapeutic, Research & Development, Drug Discovery. Tissue banking are highly used in clinical and therapeutics and growing at a CAGR of % and followed by research and development. Based on end users, the market is segmented as Hospitals, Tissue Banks, Research and Academics Institutes and Diagnostic Laboratories. Umbilical cord blood transfusion is highly growing therapeutic treatment segment in tissue banking globally.

Global Tissue Banking Market: Geographical and Competitive Dynamics

Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further segmented into major countries which include, U.S., Canada, Germany, U.K., France, Italy, Spain, rest of Europe, China, Japan, India, Australia, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Saudi Arabia, South Africa, Rest of Middle East & Africa. The report also comprises list major players in the market, their SWOT analysis, market share of these players in the Tissue Banking market, key business strategies, product portfolios, and recent developments. Key market players profiled in this report include, Thermo Fisher Scientific, Brooks Automation, Taylor-Wharton, Panasonic Biomedical, Backman Coulter Inc., Custom Biogenic Systems, Inc., Sigma-Aldrich Corporation, and BioLife Solutions, Inc., others. Majority of companies acquiring strategy of merger and acquisition for overall market growth. The technological advancement are another trend adopted by several companies for growth of business segment.

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Dental Membrane and Bone Graft Substitutes Market a Strong CAGR of 9.3% from 2024

Dental Membrane and Bone Graft Substitutes Market: Snapshot

The global market for dental membranes and bone graft substitutes is poised to present a remarkable incremental opportunity over the course of the forecast period, driven by the rising incidence in dental diseases and a constant increase in geriatric population.

The first half of the forecast period will prove to be moderately challenging for the dental membrane and bone graft substitutes market owing to the fact that products by several companies will have reached a phase of maturity. However, by 2020, new products and materials are expected to enter the market, presenting strong scope for future growth.

Exhibiting a strong CAGR of 9.3% during the forecast period, the dental membrane and bone graft substitutes market is expected to rise from a value of US$419 mn in 2015 to US$922.6 mn by 2024.

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Dental Clinics Enjoy Preference over other End Users

Based on product, the global market has been bifurcated into dental membrane and bone graft substitutes. Bone graft substitutes account for the dominant share in the market. Within this segment, allograft holds a strong position owing to easily acceptance by the body and its biocompatibility. Resorbable membranes take the lead in the dental membranes market.

Dental clinics are the leading end users of dental membranes and bone graft substitutes, accounting for a 50.9% share by 2024. Dental clinics are convenient, easy to access, and are preferred by patients for minor dental problems. This is expected to enable the segment to register a high growth rate by the end of 2024.

By material, the dental membrane and bone graft substitutes market is segmented into hydrogel, collagen, polytetrafluoroethylene (PTFE), human cells source, other species, hydroxyapatite (HA), and tricalcium phosphate (TCP). Human cells sources hold the dominant share with an estimate share of 56.0% in 2015.

Europe Takes the Lead in Global Dental Membrane and Bone Graft Substitutes Market

Europe dominates the global dental membrane and bone graft substitutes market, with a share of 27.8% in 2016. Rapid innovation in technology, increasing geriatric population, and high R&D expenditure are attributed to the growth of this market. According to the European Federation of Periodontology, around 30% of the population in Europe suffers from periodontal disease. These factors collectively drive the dental membrane and bone graft substitutes market in the region.

North America is also a key market for dental membrane and bone graft substitutes. According to the American Academy of Periodontology, approximately 64.7 million Americans have periodontitis. The region also has the highest prevalence of dental diseases among children, which presents an increase in the number of patients requiring dental treatment. This, in turn, drives the demand for dental membrane and bone graft substitutes.

Asia Pacific is anticipated to exhibit strong growth in the coming years. According to the UN, Japan has the highest geriatric population. Older people have a higher susceptibility to dental diseases, which is likely to increase the demand for dental membrane and bone graft substitutes. Growing awareness regarding oral health in countries such as China and India is also likely to support APAC market.

Key companies in the dental membrane and bone graft substitutes market include Geistlich Holding, Zimmer Dental Inc., Integra LifeSciences Corp, DENTSPLY Implants, Institut Straumann AG, BioHorizons IPH, Inc., Osteogenics Biomedical, Nobel Biocare, Implant Direct LLC., Collagen Matrix, NovaBone India, and Maxigen Biotech Inc.

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Friday, 23 December 2016

Global Electrosurgical Device Market Player & Competition Matrix 2024

Global Electrosurgical Devices Market: Snapshot

With the changing face of medical field since the last decade, triggered by an immense rise in technological advancements and rising healthcare expenditure across the globe, a large number of surgical procedures are making the shift from traditional ways to minimally invasive techniques. This is considered to be one of the key factors to have boosted the global adoption of electrosurgical devices of late. Electrosurgical products such as radiofrequency electrosurgery devices, eletrocautery devices are currently being extensively used for purposes such as cutting, desiccation, ablation, vaporization, and charring of target tissue.

Transparency Market Research estimates that the adoption of these products will continue to rise at a promising pace owing to the rising geriatric population, increasing prevalence of chronic diseases, and the resultant rise in demand for effective surgical procedures. The global market for electrosurgical devices is expected to exhibit a healthy 6.7% CAGR over the period between 2016 and 2024. Owing to this, the market will rise from a valuation of US$4,480.8 mn in 2015 to US$7,963.2 mn by 2024.

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In terms of product, the electrosurgical devices market has been segmented into radiofrequency electrosurgery devices, electrocautery devices, and electrosurgical accessories in the report. The segments of radiofrequency electrosurgery devices and electrocautery devices are further divided in to monopolar devices and bipolar devices.

The segment of radiofrequency electrosurgery devices, which had a valuation of US$923.6 mn in 2015, accounting for a relatively smaller share in the market as compared to the segments of electrocautery devices and electrosurgical accessories in 2015, will exhibit growth at the most promising pace from 2016 through 2024. Transparency Market Research estimates that the segment will expand at a favorable 7% CAGR over the said period, chiefly owing to their rising usage for the treatment of dermatological lesions, both benign and malignant.

On a whole, the segment of electrosurgical accessories is expected to emerge as the most attractive product segment in the electrosurgical devices market in terms of value and revenue contribution, exhibiting the attractiveness index of 1.6 and a 6.9% CAGR from 2016 to 2024. The segment held a dominant share of 53% in the global electrosurgical devices market in 2015 and is expected to maintain its leading stance over the forecast period as well. Technical innovations, new product launch in this field and increasing use of disposable accessories will drive the growth of electrosurgical accessories segment during the forecast period of 2016-2024.

Asia Pacific to Emerge Most Promising Market in Terms of Growth Rate

In terms of geography, North America is presently the most attractive regional market for electrosurgical devices. Several encouraging factors such as the rising number of surgical procedures, rising numbers of mergers and acquisitions, and easy availability of new and innovative product varieties are acting in favor of the electrosurgical devices market in North America. A large base of geriatric and obese population facing cardiac, orthopedic, and many other chronic problems and the rising incidence of cancer are also anticipated to drive the market in this region in the next few years.

The North America market will continue to exercise control over the global market over the forecast period as well, thanks to the high concentration of medical device manufacturers and rising investment aimed at research and development. Nevertheless, North America will lose prominence to Asia Pacific in terms of growth pace from 2016 through 2024.

The market for electrosurgical devices in Asia Pacific is expected to expand at a 7.7% CAGR over the said period. Improved healthcare infrastructure and rising healthcare spending by government are expected to increase adoption of electrosurgical devices in this region. Asia Pacific holds immense potential in the electrosurgical devices market also due to rising population, high unmet medical needs, and rise in health care-related customer expectations due to improved economic conditions.

Key players in this market are as follows Bovie Medical Corporation, Medtronic, B. Braun Melsungen AG, Erbe Elektromedizin GmbH, Boston Scientific Corporation, Olympus, Johnson & Johnson, Symmetry Surgical Inc., CONMED, KLS Martin and BOWA-electronic GmbH & Co. KG.

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U.S. Uterine Fibroid Treatment Market to be worth US$273.6 mn by the end of 2024

U.S. Uterine Fibroids Market: Snapshot

The high prevalence of uterine fibroids across the U.S. has created a significant demand for uterine fibroid treatments across the countries. The growing public concern about the occurrence of uterine fibroids, which are also called uterine leiomyoma, have propelled the demand for treatments and solutions to alleviate the pain, excessive bleeding, and pelvic discomfort.

According to the report by Transparency Market Research, the U.S. uterine fibroid treatment market is anticipated to be worth US$273.6 mn in 2024 as compared to US$211.6 mn in 2015. Analysts anticipate that the overall market will expand at CAGR of 2.9% from 2016 to 2024.

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Rising Prevalence of Uterine Fibroids amongst Younger Women Drives Market

These fibroids are non-cancerous tumors and are generally seen amongst women who are in the reproductive age. There are 20%-40% chances of women in developing uterine fibroids during their reproductive ages. These fibroids can swell up to cause pain and make the body look like it is pregnant. Unfortunately, there are no symptoms that indicate the formation of fibroids, which makes it difficult to prevent them from happening. The U.S. Department of Health and Human Services Office on Women’s Health states that around 30% of the women population around the age 35 suffer from uterine fibroids, while the chances come to 20%-80% by the time women reach the age of 50. The prevalence of uterine fibroids is comparatively higher amongst the African American women who are known to develop these fibroids at a younger age that most of the other women.

The U.S. uterine fibroids market offer a wide array of treatments for uterine fibroids. In most of the cases, medical therapy is used for shrinking the fibroids much before performing a surgical procedure. Drugs that shrink fibroids include gonadotropin-releasing hormones, which often result in menopause-like symptoms are widely available in the market. Drugs that designed to block the hormone progesterone can often slowdown the growth of fibroids. Several healthcare professionals also prescribe over-the-counter medications to contain the pain and bleeding.

Hysterectomy Gains Preference over Others

Of the various procedures used for treating uterine fibroids, hysterectomy is the most popular one. The hysterectomy segment is further divided into abdominal hysterectomy, laparoscopic hysterectomy, vaginal hysterectomy, robotic hysterectomy, and hysteroscopic morcellation. Analysts anticipate that hysterectomy is expected to be the major segment in the country and the leading revenue generator. The procedure removes the uterus to tackle the symptoms such as chronic pelvic pain, disrupted lifestyle, and uncontrollable menstrual bleeding. The American Congress of Obstetricians and Gynecologists states that about 600,000 hysterectomy procedures are performed each year. Of these surgeries, one in every third case is due indications of fibroids. However, the growth of this segment is being challenged due to the introduction of several alternatives to the life-altering procedure.

The end users of uterine fibroids treatments are hospitals and ambulatory surgical centers. Out of these, the hospitals segment is leading the U.S. market as it is well-equipped to handle emergencies and complicated matters pertaining to uterine fibroids. The growing concerns about uterine fibroids, physical morbidity, poor quality of life, rising disposable incomes, and well-established healthcare infrastructure are contributing towards the rise of the U.S. uterine fibroids market in the coming years.

Some of the important players operating in the U.S. uterine fibroids market are Blue Endo, Richard Wolf Medical Instruments, Cooper Surgical, Halt Medical, Inc, LiNA Medical USA, Karl Storz, Merit Medical Systems, Richard Wolf GmbH, Olympus Corporation, Halt Medical, Inc., and Boston Scientific Corporation.

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Thursday, 22 December 2016

Global Oncology Radiation Therapy Market Technology 2023

Radiation therapy refers to the medical use of targeted energy such as radioactive substances, x-rays etc., to destroy or kill cancerous cells without affecting the nearby healthy tissues. This therapy can be deployed as a sole therapy or as an adjuvant therapy, or it can also be employed to shrink the tumor cells, reduce pain and pressure or any other symptoms of cancer (also known as palliative radiation therapy). Currently, acceptance of radiation therapy is increasing owing to the consistent rise in cancer incidence worldwide. As per the updates published by World Health Organization (WHO), in February 2015, cancer is among the leading causes of mortality and morbidity across the globe with approximately 14 million new cases and around 8.2 million cancer related deaths in 2012.

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In majority of cancer treatments, radiation therapy acts as an effective treatment option; however, other types of cancers may respond to combination treatment options such as surgery, chemotherapy or immunotherapy. External and internal radiation therapies constitute the two major cancer treatment options. Systemic radiation therapy, intraoperative radiation therapy, radioimmunotherapy and radiosensitizers and radioprotectors represent other types of oncology radiation therapies. External beam radiation therapy involves the transmission of radiation through a machine positioned outside the body and encompasses several types such as stereotactic radiation therapy, proton beam therapy, 3-D conformal radiation therapy and intensity modulated radiation therapy.

On the other hand, internal radiation therapy also referred to as brachytherapy involves the placement of a radioactive material (implant) via catheter or a carrier at the tumor site and the tissue surrounding it. These radioactive implants may either be temporary or permanent and may demand hospital stay. With time, these implants lose their radioactivity but inactive seeds remain in the body. Other treatment options such as systemic radiation therapy involve the use of radioactive materials such as strontium-89 or iodine-131 which travel in the blood to kill cancerous cells while radioimmunotherapy involves the use of monoclonal antibodies that deliver radiation directly to the cancer cells.

The market for oncology radiation therapy can be majorly segmented on the basis of type of method, radiation source and application. Based on the type of method, radiation therapy can be further categorized into stereotactic radiotherapy and stereotactic radiosurgery. Type of radiation source can be further classified into two major sub segments namely external beam radiation therapy and internal radiation therapy along with their technologies. Use of radiation therapy in treatment of various cancers such as colorectal, breast, lung and prostate represents the application areas of oncology radiation therapy market. Geographically, North American and European countries represent the major revenue contributors owing to consistent technological advances followed by rigorous research initiatives to identify novel treatment methods. Asia Pacific and LATAM regions provide lucrative opportunities for the growth and acceptance of radiation therapies in cancer treatment. Safety regulations and reimbursement policies for radiation therapies govern the market growth.

The major factors favoring market growth are increasing cancer incidence followed by consistent technological advances in cancer research and treatment measures. In addition, consistent rise in geriatric population along with favorable reimbursement policies will propel the market growth. On the other hand, harmful side effects of radiation therapy followed by high cost of the procedures are the major factors that might hamper the market growth. Furthermore, factors such as lack of adequate infrastructure in conjunction with increasing healthcare expenditure might further limit the market growth. Accuray, Inc., Boston Scientific Corporation, Brainlab AG, C.R. Bard, Inc., GE Healthcare, NTP Radioisotopes (pty) Ltd., Positron Corporation, Siemens Healthcare and Varian Medical Systems, Inc. are some of the players operating in this market.

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Asia Pacific Technology Spending on Core Administration in Healthcare by 2016 to 2024

Global Technology Spending on Core Administration in Healthcare: Snapshot

The healthcare industry has witnessed a huge transformation from principally paper-based and manually-operated procedures to digitally-enabled connected processes and operations in the past few years. Factors such as growing government interventions to encourage technology-driven affordable healthcare services and improving healthcare infrastructure across developing countries have led to a vast rise in the money spent on making core administration in the healthcare sector technologically-rich and more effective. Moreover, rising patient-base across the globe and increasing healthcare spending will drive the need to outsource IT solutions for optimal healthcare management and a greater focus on core administrative operations.

Transparency Market Research states that in terms of value, the global technology spending on core administration in healthcare will increase at a CAGR of over 5.7% during the period between 2016 and 2024.

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Healthcare Payers Take Lion’s Share in Global Spending on Technology on Core Administration

On the basis of end users, the global technology spending on core administration in healthcare market is segmented into payers and providers. The payer segment is further divided into insurance companies, and government whereas the provider segment is further segmented into hospitals and other providers.

The payers segment accounted for the larger chunk of spending on core administration in healthcare, holding a nearly 88% of the overall market in 2015. The segment is also expected to remain the most lucrative end-user segment over the forecast period, with the segment expected to exhibit a 5.9% CAGR over the period between 2016 and 2024. The usage of a variety of data management and processing solutions for core administrative services such as fraud detection, claim management, and research and development has significantly increased across private and public insurance companies and government agencies in the past years.

The trend is expected to remain strong over the forecast period as well, with the payer end-use segment accounting for over 89% of the total spending on technology for core administration across the healthcare sector over the forecast period. Spending on technology for core administration across healthcare providers such as hospitals is expected to expand at a 4.4% CAGR from 2016 through 2024.

North America to Continue to Remain Leading Spender

Geographically, North America is the leading spender on technology for core administration in healthcare. Of the total funds devoted for making core administration technology-rich in the healthcare industry, over 50% were spent in North America. The region is expected to remain ahead of other regional markets in terms of technology spending the core administration in the healthcare sector over the forecast period as well. Factors such as rising scarcity of resources for undertaking patient-centric processes and the lack of technologically skilled healthcare staff for managing administrative processes will play a key role in highlighting the need for technological optimization of healthcare processes in the region.

North America is a steadily growing market, but will continue to account for a bigger stake compared to other regional markets, expanding at a 5.7% CAGR from 2016 through 2024. Asia Pacific will emerge as the most promising investment destination for technology in core administration for the healthcare industry over the said period. Technology spending in this area will swell at a promising 6.7% CAGR from 2016 to 2024 in Asia Pacific.

The region has emerged as the IT outsourcing destination due to growing public–private funding structures and low in-house expertise for healthcare IT. The robust and active medical tourism industry, rising spending power of the consumer on technologically advanced services, and rising international investments in the healthcare industry will continue to drive spending on technology in the Asia Pacific healthcare sector.

Some of the players in the global core administration system in healthcare are Plexis Healthcare Systems, DST Systems, Inc., HealthEdge Software, Inc., ikaSystems Corporation, TriZetto Corporation, Health Solutions Plus, Inc., Aldera Holdings, Inc., Wonderbox Technologies, UPP Technology, Inc., and HealthAxis Group, LLC.

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Wednesday, 21 December 2016

Topical Agents to Remain Most Widely Used Product Type for Treatment of Radiodermatitis Market

Radiodermatitis Market: Snapshot

The radiodermatitis market exhibits high potential due to untapped needs and is set to grow rapidly in the near future due to a rise in the incidence of cancer and the growing adoption of radiation therapy. An increasing focus on research to find a standard pertinent treatment is also expected to propel the radiodermatitis market. The lack of standard care products in the market makes it a highly opportune condition for players to set their innovative product ideas on the path of commercial success.

The nuances of product usage, effectiveness, and patient comfort are often best understood by oncologists and skin specialists. Hence, partnering with such specialists to bridge the existing need gap is set to be a lucrative opportunity during the forecast period. The global radiodermatitis market was valued at US$299.6 mn in 2015 and is projected to expand at a CAGR of 3.9% from 2016 to 2024 to reach US$421.5 mn by 2024.

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Topical Segment Leads Radiodermatitis Market by Product Type

The topical products segment accounted for a significant share in the global radiodermatitis market in 2015. Their ease of availability off-the-shelf as well as their affordability makes topical products a convenient purchase option for all strata of consumers. Topical agents comprise corticosteroid creams, hydrophilic creams, and topical antibiotics. Hydrophilic creams are extensively used across the globe as these provide hydration and relief from itching. These are often the first purchase option at the commencement of symptoms of radiation dermatitis for patients undergoing radiation therapy.

Dressings also form a key segment in the radiodermatitis market in terms of growth. These products are expensive in comparison to topical applicants; however, they present necessary purchase options for patients who have progressed to the RTOG grade 3 or moist desquamation stage post the onset of radiodermatitis. Positive results of academic and clinical research pertaining to the benefits of dressings such as Cavilon no-sting barrier film and Mepitel film have paved the way for these products, which are now prescribed by several institutions. Such research is likely to propel the dressings segment.

Introduction of Favorable Policies Driving Radiodermatitis Market in MEA

TMR states that Asia Pacific is expected to lead the global radiodermatitis market throughout the forecast period. A large population suffering from cancer translates to a higher percentage of patients eligible for radiotherapy and this is expected to drive the market in the region. The population in this region is not yet well acquainted with the practice of routine hygiene-based preventive measures. This augments the chance of developing more severe inflammation compared to people in North America or Europe. Moreover, several countries in Asia Pacific fall in the tropical region, where the severity of radiation dermatitis increases during humid weather conditions.

Global companies are increasingly focusing on emerging economies such as Latin America and the Middle East and Africa as these appear to be bright spots in the global radiodermatitis market. Key attractive features in these regions include a large underserved population, especially in central Africa and the Middle East, and the advent of favorable policies toward the growth of radiotherapy in the region. Moreover, the changing disease profile in the Middle East is resulting in an increased focus on studies pertaining to cancer care in this region.

Europe’s significant share in the radiodermatitis market can be attributed to the high volume of R&D activities in life sciences, superior product launches by companies headquartered in the region, and the rise in academic research in radiation dermatitis. The North America market for radiodermatitis is fueled by the presence of highly renowned pharmaceutical companies, research organizations, and government institutes in the region, which are focused on devising a standard treatment solution.

Key companies in the radiodermatitis market include 3M Health Care, BMG Pharma, Molnlycke Health Care, Smith & Nephew plc, Derma Sciences, Inc., Alliqua Biomedical, Acelity LP, Intermed Pharmaceuticals, and Stratpharma AG.

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