Spending on Corporate Wellness in APAC to Reach US$7.4 bn by 2024 as MNCs Encourage Fitness among Employees, finds TMR

The corporate wellness market in Asia Pacific is led by a slew of global and local companies, such as Central Corporate Wellness, ComPsych Corporation, Optum, Inc., JLT Australia (Recovre Group), Truworth Wellness, SOL Wellness, Sodexo, ConneXions Asia, and Bupa Wellness Pty Ltd. Transparency Market Research has observed that the number of companies venturing into this avenue has been steadily rising owing to the growing presence of MNCs in several developing countries.

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The opportunity in the corporate wellness market in Asia Pacific was pegged at US$3.4 bn in 2015 and is expected to be worth US$7.4 bn by the end of 2024 at a strong CAGR of 9.0%. Geographical expansions, expansion of product portfolio, mergers and acquisitions, and investing in extensive wellness programs are some of the key growth strategies adopted by the leading players in the Asia Pacific. For instance, in March 2016, Sodexo signed a 10-year contract with Rio Tinto to expand its operations in Australia.

Increase of Non-communicable Diseases Driving Need for Health and Wellness Programs

The prevalence of non-communicable diseases such as diabetes, chronic respiratory diseases, cardiovascular diseases, and cancer has increased significantly in Asia Pacific in recent years. The report has found that these diseases account for at least 8.5 million deaths in Southeast Asia each year. “Employers are, as a result, driven to promote as well as maintain the health and well-being of their employees and offering corporate wellness programs and services has turned out to be the most effective method of doing so,” the lead analyst states. These services not only boost productivity but also reduce overall medical costs.

The corporate wellness market in Asia Pacific is also fueled by government support and initiatives, the rising number of white-collar employees, the willingness of employers to invest in wellness programs, and growing health consciousness among the population.

High Cost of Implementation Restricting Widespread Adoption

“Implementing corporate wellness programs in organizations is a costly affair and companies need to utilize a certain portion of their budget from the revenue generated,” the author of the study comments. Services such as fitness and health risk assessment need high investments and as a result, are cut down by the companies. This restricts the growth of the corporate wellness market.

In addition, the inefficient execution of corporate wellness services is a major restraint to the market and is likely to increase costs for the companies.

China to Lead APAC Corporate Wellness Market throughout Forecast Period

By type of service, the fitness segment led the overall corporate wellness market, accounting for a 38.6% share in 2015, reaching US$2,793.5 mn by 2024. The smoking cessation segment, although the smallest in terms of revenue in 2015, is anticipated to register a strong CAGR of 9.6% during the forecast period. By country, China emerged as the leading revenue generator in 2015 and is projected to retain its position throughout the forecast period. India, on the other hand, is expected to expand at the fastest pace by 2024.

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Non-invasive Cancer Diagnostics Market Stimulated by Concerns Regarding Complexities of Invasive Cancer Tests

The significant rise in cancer cases globally and the complexities that are constantly observed with the use of diagnostic methods such as imaging and biopsies have led to an increased demand for non-invasive cancer diagnostic methods in the past few years. Transparency Market Research, in its recent report, titled “Non-Invasive Cancer Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” presents a thorough analysis of the market.

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The report presents an overview of the key drivers, challenges, and trends that are expected to have a substantial impact on the overall future development of the market over the period between 2015 and 2023. The report also presents a through overview of the regulatory scenario and the competitive landscape of the market.

The rising global prevalence of cancer is the chief factor driving the global non-invasive cancer diagnostics market and is expected to have a vast impact on the market’s future growth prospects as well. The WHO states that by 2020, around 15 mn new cancer cases will be observed every year across the globe, of which ovarian, gastrointestinal, and breast cancer cases will have the highest rate of occurrence. This factor will require diagnostic methods that will enable the early and accurate detection of cancers in their early stage and reduce the considerable amount of burden that cancer treatment can have on national and international economies.

North America is presently the leading contributor to the overall revenues of the global non-invasive cancer diagnostics market, followed by Europe. High awareness about healthcare and disease prevention, and the easy availability of advanced technologies will help the market achieve sustainable growth in these regions in the next few years as well.

However, the market will see the most promising growth in emerging economies across Asia Pacific over the period between 2015 and 2023. The rising prevalence of cancer, increased awareness, and rising affordability of advanced tests will lead to a sizeable rise in demand for a variety of non-invasive cancer tests in the region over the said period.

The global non-invasive cancer diagnostics market features several international firms operating amid intense competition. Rising global investments in research and development of cancer-related diagnostics and treatment methodologies have led to the introduction of several advanced technologies in the market in the past few years. A recent instance is the introduction of Cologuard by Exact Sciences, which was approved by the U.S. FDA for non-invasive diagnosis of colorectal cancer in March 2014.

Some of the key vendors operating in the global non-invasive cancer diagnostics market are Affymetrix Inc, Compugen, Quidel, Abbott Molecular, Immunicon Corporation, Roche Diagnostics, Digene Corporation, Precision Therapeutics, GE Healthcare, and DiagnoCure.

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Weight Loss Services Industry Growth and Region-wise Outlook from 2016 to 2023

Weight Loss Services Market: Overview

Overweight and obesity refer to excess body fat and it is related with increased weight-for-height. According to the World Health Organization (WHO) estimates more than 1.4 billion adults 20 years or older are overweight and obese. Obesity not only leads to loss of confidence among obese people, but is also a great concern from health standpoint. Overweight eventually leads a person to several diseases such as cardiovascular diseases (CVD), type 2 diabetes, strokes and even carry a risk of cancer. Obesity and weight gain has become one of the biggest concerns in the developed countries such as the U.S. owing to increasing adoption of sedentary lifestyle among the youth.

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Weight Loss Services Market: Trends

The global weight loss services market is poised to grow in the coming years, thanks to increasing awareness among people about their health and well being. The huge consumer base is a key market driver for the growth of global weight loss services market and will continue to remain due to increasing global population, particularly in the Asia Pacific and Rest of the World.

Other prominent market drivers include consumer’s increased weight and rising disposable income among people in the developing countries. However, large number of tall and false claims misleads general public about the effectiveness of particular services. Such unfounded loss claims and misleading endorsements restrain the market growth for genuine products and services.

Weight Loss Services Market: Segmentation

The global weight loss services market can be segmented into four major segments, namely, weight loss food and diet chains, weight management programs, health clubs, and other approaches for weight reduction such as liposuction and bariatric surgery. The market is highly competitive in the developed world with simultaneous presence of several multinational and local players. The food and diet chain segment have been growing in incessantly even during the recession period and accounted for largest share in the global weight loss services market. NutriSystem, Inc. is one of the major players in this segment and is engaged in provided meal replacement and weight loss supplements.

Weight Loss Services Market: Region-wise Outlook

Geographically, the global weight loss services market can be segmented into four major geographical regions, namely, North America, Europe, Asia Pacific and Rest of the World. Historically, North America and Europe have been the largest play areas for the players in this market. The market for weigh loss services is getting a boost in the U.S. due to coverage provision of screening and counseling for obesity under the Affordable Care Act (ObamaCare).According to the Health & Social Care Information Centre, obesity levels in England have illustrated a sharp increase during the period 1993 to 2011.

The obesity and overweight population continues to grow in the OECD countries as well. A report – ‘Obesity and Economics of Prevention: Fit or Fat’ from OECD presents the scale of obesity epidemic and recommends that nations make policies to prevent the consequences of obesity on the health and economy of the nation. Therefore, the market for weight loss services is expected to grow continuously in the near future. However, as the economies in Asia Pacific are growing at a rapid pace, the changing lifestyle of people in this region is resulting in more people becoming obese. This presents lucrative opportunity for market players in this highly untapped regional market.

Weight Loss Services Market: Key Players

Some of the players in this market include Northcastle Partners, NutriSystem, Inc., Weight Watchers International, Inc., Jenny Craig, Inc., Medifast, Inc., BistroMD, Inc., and Rosemary Conley Diet & Fitness Clubs.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.

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Angioplasty Balloons Market at approximately US$1.7 bn and by 2023

A recent report, titled “Angioplasty Balloons Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”, from Transparency Market Research (TMR) offers the latest insights into the angioplasty balloons market.The report states that the global angioplasty balloons market will progress at a CAGR of 3.50% during the forecast period from 2015 to 2023. In 2014, the global angioplasty balloons market was estimated at approximately US$1.7 bn and by 2023, it is expected to be worth nearly US$2.5 bn.

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Broadly, the global angioplasty balloons market is segmented on the basis of material, type, and geography. According to balloon type, the global angioplasty balloons market is divided into scoring balloons, drug-coated balloons, cutting balloons, and normal balloons. In 2014, the normal balloons segment led the global angioplasty balloons market, trailed by the drug-coated balloons segment. The drug-coated balloons segment is projected to witness the fastest growth in the global angioplasty balloons market during the forecast period due to the product’s efficiency and steady rise in the volume of percutaneous interventions worldwide. On the contrary, the cutting balloons segment is projected to witness deceleration during the forecast period due to their limitations in comparison to scoring balloons.

By material, the global angioplasty balloons market is classified into non-compliant balloons and semi-compliant balloons. In 2014, the semi-compliant balloons segment led the global angioplasty balloons market and is projected to continue its dominance during the forecasting horizon. Semi-compliant balloons are made of softer materials, which allows them to retain their shape. This has led to improved crossability and deliverability. Furthermore, their flexibility allows physicians to move the balloon catheter smoothly in small vessels.

On the basis of region, the global angioplasty balloons market is classified into North America, Asia Pacific, Europe, the Middle East and North Africa (MENA), Latin America (LATAM), and Rest of the World (RoW). In 2014, Europe and North America collectively held more than 67% of the global angioplasty balloons market. These two regions are enjoying significant growth due to the steady rise in percutaneous intervention procedural volume and the growing aging population. On the other hand, the Asia Pacific segment is expected to expand the fastest in the global angioplasty balloons market due to its emerging medical tourism sector.

The overall angioplasty balloons market is driven by the rising aging population, increasing obese population, and growing prevalence of coronary artery disease. The steady launch of new products is also having a positive impact on the global angioplasty balloons market. Nevertheless, the global angioplasty balloons market is restrained by the growing penetration of players, which has led to a decline in the average selling price of these products.

The report recommends that players operating in the global angioplasty balloons market should focus on developing improved and technologically advanced angioplasty balloons. Furthermore, investing in the emerging markets in Latin America, Asia Pacific, and Africa will also help companies boost their ROI. The leading companies operating in the global angioplasty balloons market are Abbott Vascular, NATEC Medical Limited, ENDOCOR, Medtronic, Johnson & Johnson, and Cook Medical.

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Innovations to Dictate the Future of Companies in the Global Medical Image Analysis Software Market

A new market research report by Transparency Market Research, titled “Medical Image Analysis Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”, is a comprehensive study elaborating on the prime roles of medical image analysis software. Aspects such as the current size of the market and the predicted growth trends in the forecast period from 2015 to 2013 have also been included in this study. In addition, the report also throws light on the chief performing products in the market, along with stating the estimated performance of these products all through the forecast horizon. Furthermore, the top application segments as well as end-use segments have also been presented via this research report in order to provide a detailed study on the market for medical image analysis software.  

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According to this research report, the advantages associated with the utilization of medical image analysis software such as easy readability, sharing and storing of images, and rising productivity are boosting the market for medical image analysis software. In addition, factors such as the rising geriatric population resulting in increased diagnostic check-ups and the rising convenience owing to image availability on mobile devices are also amongst the chief factors fuelling the market, as per this study. On the other hand, factors such as the issues of data security and the soaring costs of software may have a negative effect on the growth of the market.

On the basis of imaging modality, the report segments the market into magnetic resonance imaging (MRI), single photon emission computed tomography (SPECT) and positron emission tomography (PET), x-ray, computed tomography (CT), microscopy, and ultrasound. In terms of end use, the market for medical image analysis software is segmented into diagnostic centers and general hospitals. 

The report, on the basis of geography, segments the market into Europe, Asia Pacific, North America, and Rest of the World (RoW). Amongst these, North America leads the market and is trailed by Europe. This is owing to the swift technological advancements and the increasing demand for n-dimensional and platform-independent image processing and visualization in these two regions. On the other hand, as per the report, Asia Pacific emerged as the most lucrative medical image analysis software market and is poised to grow at a rapid rate in the coming years. This is owing to the rising occurrence of diseases requiring diagnostic tools, enhancement in health care facilities, and increasing government initiatives in this region.

Carestream Health, Toshiba Medical Systems Corporation, Bruker Corporation, and Merge Healthcare, among others, are the major players operating in the market, as per this study.

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ADHD Therapeutics Market Witnessing Admirable Growth owing to Persistent Research Efforts

Attention deficit hyperactivity disorder (ADHD), also referred as Attention Deficit Disorder (ADD) or Hyperkinetic Disorder (HKD) is the most common psychiatric disorder among adolescents and children. The disorder is characterized by the presence of inappropriate levels of attention, impulsivity and hyperactivity, commencing in childhood and leading to impairment. Although these symptoms tend to cluster together, some people are majorly hyperactive and impulsive, while others are inattentive. ADHD was for long considered a childhood disorder but there is growing awareness that ADHD is also a significant source of impairment for many adults. The pathophysiology of ADHD is not clearly understood. Majority of scientific research states that ADHD is neurologically based but some experts claim that psychological factors are the major and primary cause of the disorder.

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The available medications help to control the symptoms of ADHD but do not cure the disorder. However, medications assist a child to pay attention and complete their school tasks. It is still not clear whether medications are able to improve learning and academic skills among children. Combination of therapies such as behavioral therapy, medication, practical support and counseling can help children to survive normally with ADHD. According to a Research conducted by the National Institute of Mental Health (NIMH) it has proved that medication gives good results when treatment is repeatedly monitored by the doctor and the dosage is modified according to the child's needs.

Attention deficit hyperactivity disorder (ADHD) is a common disorder among children that continue through adolescence and adulthood. Some of the causes that may lead to ADHD are genetic disorders, environmental factors, brain injuries and food additives. The onset of ADHD starts at the age of 7 years. According to The National Institute of Mental Health (NIMH), around 4.1% of adults in the U.S. are affected by ADHD who are 18 years of age and above in a year. Also around 9.0% of children who are aged between 13 to 18 years in the U.S. are affected by ADHD. Boys have four times more risk than girls.

Geographically, the global ADHD therapeutics market is segmented into four major regions: North America, Europe, Asia-Pacific and Rest of the World (RoW). In terms of geography, North America accounts for the highest market in terms of revenue, followed by Europe due to highly developed healthcare industry, high disposable income, ongoing clinical trials, and early approval of drugs in the U.S market. However, Asia Pacific market is also witnessing a very positive growth due to high rate of development in healthcare industry, government initiatives for treatment of mental illness and increasing prevalence of mental disorders.

The global ADHD therapeutics market is witnessing an admirable growth due to the medical advancements, high number of research activities in this segment and high awareness among people about mental illness. However there are many side effects associated with medication such as decreased appetite, sleep problem, headaches, dizziness, Irritability, mood changes and tics. The high cost of treatment and the number of side effects associated with medication are some of the factors that may hinder the growth of ADHD therapeutics market.

Some of the major players operating in ADHD therapeutic market are Amedra Pharmaceuticals LLC, Eli Lilly and Company, Janssen Pharmaceuticals, Inc., Noven Therapeutics, LLC, Novartis Pharmaceuticals Corporation and Shire Plc.

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Packaging and Labeling (Healthcare) Services Market is expected at a CAGR of 5.3% from 2023

Healthcare packaging calls for well-laid out directives and can be manufactured economically if only a holistic approach is employed. To attain this, medical devices and their packaging need to be developed simultaneously for the optimal use of guidance package that is provided by regulatory bodies for the quality control of these devices. In this context, the device center of the U.S. Food and Drug Administration produces the largest number of guidance documents for medical device manufacturers due to the large variety of medical devices and their specific packaging. 

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The occurrence of industry events also provides guidance for industry players for product development. The PACK EXPO and Pharma EXPO, 2015 held in Las Vegas witnesses a record-breaking industry participation, wherein industry experts provided valuable insights on employing technology for counteracting imitation issues.

At present, the healthcare industry is grappling with the increasing incidence of chronic ailments worldwide. This has necessitated healthcare regulatory bodies to undertake strict quality control of products at every stage right from R&D to production to packaging. On the other hand, pharmaceuticals companies and medical device manufacturers are focused on extending the shelf life of products and need to abide by stringent policies that are in place to counter imitation drug packaging and improper labeling for patient safety. On account of these factors, the global packaging and labeling services market will display a CAGR of 5.3% from 2015 to 2023, says a report by Transparency Market Research.

Q. What lies ahead for the growth of the packaging and labeling services market for healthcare?

A. Though complicated registration and approval processes for the packaging and labeling of pharma products are slowing this market’s growth, this industry is in progression mode due to certain favorable factors. The increasing adoption of nano-enabled packaging will lead to significant growth of this industry. Moreover, increasing adoption of newer packaging techniques in developing countries will open attractive opportunities for the growth of the global packaging and labeling services market for healthcare.

Q. Are pharmaceuticals companies and medical device manufacturers vigilant about their role in public health? 

A. Yes. Firstly, pharma companies adhere to stringent policies that are laid out for the production of pharmaceuticals due to their close association with public well-being. In addition, pharma companies are spending heftily on R&D for advanced packaging techniques to counter issues pertaining to imitation drug packaging. Medical device manufacturers and pharmaceutical companies are also exploring bio-based and green packaging options to minimize the adverse effect of conventional packaging on the environment.  

While a universal packaging technique is not viable for the wide product portfolio of the medical devices and pharmaceuticals industry, industry participants comply with the highest standards of packaging and labeling that are laid out for the same.

Q. How is packaging and labeling services industry for healthcare faring in Europe?

A. Currently, Europe stands as the most lucrative regional market for the packaging and labeling services due to the presence of a large number of pharma and biotech companies. The region held the largest 31.3% of the global market in 2014. Europe is expected to display abundant opportunities for the packaging and labeling services market for healthcare in future as well.

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