Bone Grafts and Substitutes Market to reach USD 3.48 billion in 2023

With only a few companies enjoying dominance, the global bone grafts and substitutes market demonstrates a consolidated vendor landscape. As per Transparency Market Research (TMR), the top three companies including Stryker Corporation, Zimmer, and Medtronic accounted for over 50% of the market in 2014. “The key market players are in a constant competitive state as they vie for sustainable growth and increasing their global footprint,” said a lead TMR analyst 

Manufacturers operating in the global bone grafts and substitutes market have shown interest in signing long-term contracts with dental clinics and hospitals in order to maintain their sales and service relationships. They frequently offer additional services to strengthen their relationship with buyers and enjoy sustainable growth. Besides this, the companies are also exploring acquisition opportunities to expand their geographic presence.The global bone graft and substitutes market is projected to exhibit a CAGR of 4.5% between 2015 and 2023. The market stood at US$2.35 bn in 2014 and is expected to reach US$3.48 bn by the end of 2023. 

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Rising Prevalence of Bone Disorders Fuels Demand for Bone Grafts and Substitutes

The rising prevalence of bone and joint disorders will significantly fuel demand for bone grafts and substitutes. According to the Centers for Disease Control and Prevention (CDC) over 67 million people in the U.S. alone are likely to be diagnosed with arthritis by 2030. Besides this, arthritis is also considered one of the leading causes of disability affecting millions around the world. The situation has proven quite favorable for the market in terms of bolstering demand for joint and reconstructive bone surgery. This in turn translates into high demand for bone grafts and substitutes.

The dramatic rise in the number of orthopedic surgeries is also expected to aid the market’s expansion. In developing countries, the bone grafts and substitute manufacturers are expected to capitalize on the increasing medical tourism. As per TMR, in the last couple of years, India, China, Malaysia, Japan, and Mexico have emerged as key destinations for affordable treatment attracting people from across the globe. The number of people visiting these nations for orthopedic and dental surgeries has spiked considerably, thus boosting bone grafts and substitutes sales. 

Ethical Issues Rising from Gaps between Demand and Supply of Allografts to Inhibit Market

Reports of post implantation infections have been creating bottlenecks for the market. The market is also inhibited by implant failures on various occasions. “Obtaining allografts from donors and preserving them give rise to various ethical issues related to storing and harvesting them,” said a TMR analyst. Such long gestation periods between demand and supply of allografts may give rise to ethical issues. Hence stringent regulations have been implemented on the usage of bone grafts and substitutes aimed at curbing the prevalence of malpractices that increase the risk of infection. This in turn is limiting the market’s trajectory to an extent.

Nevertheless, the rising geriatric population and the increasing disposable income will create new growth opportunities for the market in the near future. Furthermore, the market will also gain from the increasing healthcare expenditure, which will in turn encourage the entry of new players.

The market was dominated by the spinal fusion application segment in 2014. It is expected to rise at a CAGR of 4.4% during the forecast period. Regionally, North America dominated the global bone graft and substitute market in 2014. Several key players are domiciled in the region. This combined with rising geriatric population will enable the North America market to reach US$1.23 bn by the end of 2023.

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Compression Therapy Market will exhibit a CAGR of 5.3% between 2016 and 2024

Inadequate regulations for the commercialization of products and forward integration by raw material suppliers have kept the threat of new entrants high in the global compression therapy market, finds Transparency Market Research in a new study. This, combined with presence of a large number of local and global players, renders the market highly fragmented. Suppliers in the market also don’t enjoy a high bargaining power due to their presence in large numbers.

Transparency Market Research forecasts the global compression therapy market to reach US$4.25 bn by 2024 from a valuation of US$2,693.4 mn in 2015. If these figures hold true, the market will exhibit a CAGR of 5.3% between 2016 and 2024.

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The majority of the companies operating in the market are vying to emerge dominant through mergers and acquisitions. They are also witnessing attractive prospects in the emerging economies of Asia Pacific. TMR recommends that adopting collaborative strategies could help these companies capitalize on untapped opportunities in the region. With the population in China, Japan, Singapore, and South Korea increasing at a rapid pace, combined with their increasing interest in sports and fitness, manufacturers of compression therapy products stand chance to gain a competitive edge in the market.

Capitalizing on Untapped Opportunities in Emerging Economies Could Boost Market

TMR finds that the ripest opportunities lie in emerging economies of Latin America and Asia Pacific. “Immense potential for healthcare products in countries such as South Korea, Brazil, China, Mexico, and India will prove to be lucrative for companies vying for sizeable share in the global compression therapy market,” said a TMR analyst. “Due to the increasing investment on the healthcare infrastructure, increasing disposable income, and the rising incidence of chronic ailments, these regions exhibit robust prospects for the compression therapy market,” he added.

In the last few years, compression therapy has emerged as one of the most preferred procedures for treating sports related injuries. The growth witnesses by the market therefore corresponds directly to the growing popularity for sports worldwide. Besides this, the rising prevalence of obesity and increase in the number of orthopedic surgeries also create ample opportunities favoring the market’s expansion.

Absence of Reimbursement Regulations to Negatively Impact Sales of Compression Therapy Products

Despite growth prospects for the market being robust, the absence of proper reimbursement will have an adverse impact on its growth trajectory. Nevertheless, the increasing investment on the development of the healthcare infrastructure in developing companies will provide considerable opportunities for vendors to boost their sales.

Presently, the market has been witnessing lucrative prospects for the sale of static compression products. Supported by clinical evidence, static garments are preferred more by doctors as patient care products. Additionally, patients favor static compression hosiery more since it is made with comfortable material and due to its aesthetic appeal.

North America Exhibits Highest Prospects for Compression Therapy

Regionally, the prospects for compression therapy seem most lucrative in North America. The region held over 47.2% of the global compression therapy market in 2015, followed by Europe, which accounted for a share of 32.2% in the market. Obesity being a widespread problem in developed economies such as the U.S., North America will be witnessing a high incidence of vascular diseases. This is evidently proving favorable for enterprises offering compression therapy products to maximize their sales.

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Ambulatory Surgical Centers Growing Popularity Stimulates Demand for Operating Room Equipment Market

About 42% of the global operating room equipment market was in the hands of a large number of regional players in 2014, finds Transparency Market Research (TMR) in a new study. This highly fragmented market witnesses a towering presence of about five key players – including Siemens Healthcare, Stryker Corporation, and GE Healthcare – that hold significant shares from the remainder. GE Healthcare, for instance, held close to 19% of the operating room equipment revenues in 2014, which was the single largest in that year.

According to Transparency Market Research, all key players are showing a common trait of heavy investments in research and development in operating room equipment innovations. Successful innovations have allowed these players to maintain major revenue shares for the time being.

The global operating room equipment market is expanding at a CAGR of 6.68% within a forecast period from 2015 to 2023. This market will be valued above US$42 bn in 2023, after being recorded around US$24 bn in 2014. A major contribution to this growth rate is made by the movable imaging products segment, which is progressing at a CAGR of 8.20% within the same forecast period.

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Push for Ambulatory Surgical Centers Expected to Propel Operating Room Equipment Demand

Ambulatory surgical centers (ASCs) are a relatively modern approach towards out-patient surgical solutions. They cater specifically to those surgical procedures that do not require a patient to stay overnight in a hospital.

“In the U.S., in 2012, there were more than 5,000 Medicare-approved ASCs, as the Centers of Medicare and Medicaid Services had revealed. There was a rise in 24% for the Medicare payments made to ASCs between 2007 and 2012,” explains a TMR analyst. “This establishes the already set importance of ASCs in developed economies, and the demand for ASCs is only expected to grow even further over the coming years,” she adds. As a result, vendors of operating room equipment are expected to find a high scope of growth in similar regions.

Players Can Look to APAC and LATAM for Bigger Opportunities

High population density and rapidly improving healthcare infrastructure are the two biggest reasons for globally present companies for operating room equipment to find sustainable options in the Asia Pacific and Latin America regions. “This applies especially to India, where the rapid growth of multispecialty hospitals is creating a high demand for hybrid operating rooms. Fortis Healthcare, Wockhardt Hospitals, and Apollo Hospitals, to name a few, are where entrants to Asia Pacific can look to,” says the analyst.

Additionally, the massive presence of an overseas patient pool due to the rise of medical tourism is creating an optimistic scope of growth for both hospitals and operating room equipment sales. In the case of Brazil, Mexico, and other Latin American countries hold a high percentage of unmet medical needs. This gap in supply and demand, coupled with the growing healthcare expenditure through improved disposable incomes of patients will be beneficial for the proliferation of operating room equipment providers in the region.

The above data is collated from a research report released by TMR, titled “Operating Room Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015–2023.”

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Image Guided Surgery Devices Market Advances with Improvement in Technology, Public Awareness; Market to Reach US$4.8 bn in 2022

A new Transparency Market Research report states that the global image guided surgery devices market, which was pegged at US$2.76 bn in 2013, is predicted to reach US$4.80 bn in 2022, expanding at a CAGR of 6.40% from 2014 to 2022. The title of the report is “Image Guided Surgery Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022.”

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Image guided surgery is a term utilized for any type of surgical procedure wherein the surgeon utilizes tracked surgical instruments coupled with intraoperative and preoperative images for indirect guidance for the procedure. Image guided surgery systems utilize electromagnetic fields or cameras for capturing and relaying images of the anatomy of patients. Image guided surgery is used in a wide range of applications and is particularly utilized in surgery of the sinuses, where it aids in avoiding damage to the nervous system and the brain of the patient.

As per the report, the increasing demand for enhanced healthcare facilities and the rising healthcare expenditure globally are amongst the chief factors fuelling the market for image guided surgery devices. In addition, the rising popularity of IGS devices and the increasing initiatives taken by governments globally will also have a positive impact on the growth of the market. Furthermore, the developing markets hold a significant potential for the image guided surgery devices, hence propelling market development. The increasing count of partnerships and collaborations is a key trend seen in the market. On the other hand, the absence of skilled professionals and the soaring cost of installation of image guided surgery devices are amongst the major factors inhibiting the development of the market. In addition, the stringent regulatory needs and the lack of health insurance in emerging countries will also pose a negative impact on the growth of the market.

On the basis of device type, the report segments the market into ultrasound, computed tomography (CT) scanners, magnetic resonance imaging (MRI) machine, x-ray fluoroscopy machine, endoscope, single photon emission computed tomography (SPECT) equipment, and positron emission tomography (PET) machine. Amongst these, computed tomography (CT) scanners have the highest demand owing to the increasing applications of CT scanners in tumor detection and imaging of soft tissue structures. In addition¸ the turnaround time of these scanners is less, which is advantageous in critical and complicated surgeries. This segment stood at US$770 mn in 2013.

In terms of application, the report segments the market into orthopedic surgery, neurosurgery, oncology surgery, ear, nose, and throat surgery, and others. Amongst these, the segment of neurosurgery held the largest share in the market in 2013. The increasing accuracy of operating procedures is a key factor fuelling the growth of the neurosurgery segment. On the other hand, the demand for orthopedic image guided surgeries is also predicted to rise owing to the increasing aging population and the increasing occurrence of road accidents globally.

On the basis of geography, the report segments the market into Europe, North America, Latin America, Asia Pacific, the Middle East, and Rest of the World (RoW). Amongst these, North America led the market in 2013 and was trailed by Europe. The reasons for the superiority of both these regions include the increasing adoption rate of new technologies, the increasing healthcare expenditure, and the availability of trained healthcare professionals in these regions.

As per the report, the chief players dominant in the market are Toshiba Corporation, Siemens Healthcare, Koninklijke Philips N.V., St. Jude Medical, Inc., General Electric Company, Medtronic plc, Brainlab AG, and Varian Medical Systems, Inc., among others.

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Global Urgent Care Centers Market to Reach US$30.5 bn by 2020

The global urgent care centers (UCCs) market has several private companies operating urgent care chains in the market such as AFC/Doctors Express, FastMed Urgent Care, MD Now, Concentra Inc., CareSpot Express Healthcare LLC, MedExpress, MinuteClinic LLC, NextCare Urgent Care, Pateint First and U.S. HealthWorks Inc. Also, a large number of small market players are trying to enter and establish in the urgent care centers market. This has resulted in a highly fragmented market for UCCs industry with large number of urgent care chains accounting for less than 1% of the total market. Moreover, many private insurance firms are also becoming attracted towards the UCCs market. 

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Cost Effective Visits and Faster Service Maintain UCCs on the Growth Front

Urgent care centers provide immediate care services to patients with minor injuries. The service time and quality of health care services in a UCC are better than that in an emergency department (ED). Additionally, the fee per visit paid by a patient, whether with health insurance or not, in UCCs is much lower than the fee paid in EDs. These advantages of UCCs over EDs are expected to increase the number of visits to UCCs, thus driving the growth of the global urgent care centers (UCCs) market.

Moreover, appointment flexibility provided by UCCs coupled with reduced waiting time has increased their popularity amongst patients. A surge in the population of insured people is also driving the urgent care centers market. The considerably low cost of treatment is attracting a large pool of insured patients. Furthermore, the growth of UCCs is backed by many private and public investors, thus increasing the pace of growth of urgent care centers exponentially.

Unavailability of Physicians Likely to Harm Visits to Urgent Care Centers

Continued shortages in the number of physicians are likely to limit the growth of the market and it will worsen in the next few years according to the Urgent Care Association of America (UCAOA) survey report. This can adversely affect the growth of the UCCs market. However, the effect of this restraint could be alleviated with physician assistants and nursing practitioners compensating this deficiency to some extent.

Another impediment to the growth of the UCCs market is the high initial cost required for the set-up of the urgent care centers. Apart from the establishment costs, a large number of patient visits per week are required to meet the huge operational costs of UCCs.

North America Leads With a Substantial Margin Owing to High Adoption Rate of UCCs

By geography, the global UGCs market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). North America, which was the leading segment by value in 2013, is anticipated to retain its leadership with a share of 73.6% in 2020. Europe, which stands second, is expected to lose its share by the end of 2020 due to lack of interest shown by private investors.

In terms of services, illness is the leading segment by revenue and is anticipated to remain the largest segment until 2020. However, screening services represent the fastest growing segment.

The information presented in this review is based on a Transparency Market Research report, titled, ‘Urgent Care Centers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.’ 

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Process Analytical Technologies for Pharmaceuticals Market Global Trends 2023

Stringent regulations monitor pharmaceutical product manufacturing. Since pharmaceutical products directly relate to health and life of an individual, every step of pharmaceutical product manufacturing is under strict vigil and is considered a crucial affair. In a report, titled “Process Analytical Technologies for Pharmaceuticals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023,” Transparency Market Research (TMR) studies the importance of process analytical technologies in analyzing, evaluating, and controlling the pharmaceutical product manufacturing. 

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In terms of service, the process analytical technologies market can be segmented into calibration, database management system (DBMS), and consultancy. Based on application, coating, lyophilization, evaporation, compression, packaging, raw material selection, and others constitute the key segments in the global process analytical technologies market. 

Regionally, the market is spread across Asia Pacific, Europe, North America, and Rest of the World (RoW). Currently, North America and Europe enjoy the leading share in the market as these regions boast sophisticated healthcare infrastructure. However, TMR predicts growth witnessed by the market in Asia Pacific and across a few emerging economies in RoW to outpace that witnessed in developed regions. The accelerating investment in pharmaceutical infrastructure and technologies across developing economies will create lucrative opportunities for the process analytical technologies market. 

Spurred by aforementioned factors, TMR projects the process analytical technologies for pharmaceuticals market to grow at a robust pace between 2014 and 2020. Growth witnessed by the market will be particularly high in developing economies as they exhibit higher spending on technological advancements. Furthermore, the market is expected to gain from the higher investment in research and development of novel therapeutics. Besides this, stringent approval process for drugs and medical devices will aid the expansion of the process analytical technologies market. 

Following the recent technological advancements, the advent of several new medical devices is expected in the forthcoming years. The launch of these devices is likely to bolster opportunities for the process analytical technologies providers. With government and international agencies mandating various tests during pharmaceutical product manufacturing, the demand for process analytical technologies is expected to rise considerably during the forecast period. 

On the flip side, the lack of skilled professionals, threat of false results and malfunctions, and high cost of instruments will pose challenge to the process analytical technological market. It is critical to mitigate these concerns for key players to enjoy sustainable growth through the course of the forecast period. 

Some of the companies operating in the global process analytical technologies market are Honeywell, Tektronix, Inc., Agilent Technologies, Danaher Corporation, Thermo Fisher Scientific, Inc., Fluke Biomedical, and Carl Zeiss AG.

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Analysis of the Global Medication Management Market Trends and Forecast, 2016 - 2024

Global Medication Management Market: Overview 

The growing legal liabilities associated with medication errors have been reason enough for healthcare providers to invest in medication management systems. There is also a promising opportunity developing for medication management in homecare settings. While large multi-facility hospitals are the biggest users of medication management systems, smaller hospitals worldwide are warming up to the idea of streamlining their medication process as well. What works in the favor of the medication management market, however, is that implementation of such systems has become easier with the support of healthcare IT. The growing dependence of the aged—who comprised 11.7% of the global population in 2013—on healthcare providers to plan and dispense medication is further contributing to the revenue growth of the medication management market. 

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Market data for medication management systems has been compiled based on sales and the corresponding revenue generated. Prices considered for the purpose of compiling data have are essentially averages taken from quotes provided by suppliers, distributors, and manufacturers. The report delves into the key segments of the medication management market by application, end use, and type. The size of key geographical markets has been derived via a summation of countries in each major region (North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America). 

Global Medication Management Market: Trends and Drivers 

With more evidence emerging about the ability of medication management systems to make medication error-free, efficient, and more accessible to patients, a noticeably favorable outlook toward the solution is developing. Besides, the contribution of automated medication dispensing systems in establishing decentralized medication management systems is enticing more healthcare providers to invest in the latter. The factors listed above are collectively enabling the global medication management market to post progressively higher growth every year. 

Medication management systems are deployed at private healthcare centers, multi-facility and specialty hospitals, and in homecare settings. This necessitates the use of medication management systems of different sizes, features, and capabilities. For instance, medication management systems designed for personal use are primarily programmed to organize a weekly medication schedule, setting reminders, and organizing regular visits by healthcare professionals. 

The market is currently witnessing strong demand for the following types of medication management systems: infusion solutions, point-of-care verification, medication analytics, medication technologies, and ADE surveillance. However, since it is still early days for the medication management market, a few complications still exist with their operation and maintenance. 

Global Medication Management Market: Segmentation and Vendor Landscape 

To dive into the second and third levels of the global medication management market, the report shears it down on the basis of the following criteria: type of medication management services and service provider type. Service providers such as private healthcare providers, hospitals, and others are analyzed in the report. 

The report also profiles the leading companies in the medication management market to trace their recent developments and milestones. The annual revenues of these companies, where available, have been provided in the report. Companies that either find a mention or are extensively profiled in the report include: CareFusion, Inc., B.Braun Melsungen AG, Baxter International, Inc., and Hospira, Inc. 

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