Healthcare & Medical Devices
Sports medicine market is projected to witness substantial growth in the ensuing years, primarily driven by the increasing incidences of injuries because of sports activities. Say for instance, tennis elbow is an extremely painful condition associated with playing racket sports involving repetitive motions of the wrist and arm. According to credible statistics, sports and recreational activities account for approximately 21% of all traumatic head injuries among American adolescents and children.
U.S. Sports Medicine Market, By Injury Type, 2018 & 2025 (USD Million)
The rise in the standard of living and surging disposable income has boosted spending on sporting events, which has in turn amplified the occurrence of international multi-sport events such as Olympics, Commonwealth games, Arnold Sports Festival, and several others. Consequently, the increasing lucrativeness of sports as a promising career option and the subsequently rising number of athletes worldwide are further fueling sports medicine market trends.
The rapid upsurge in sports activities and subsequent growth in sports ailments is estimated to drive sports medicine market between 2019-2025. Increasing investment by government authorities and private organizations to develop sports facilities and hubs has further broadened the remuneration scale of sports medicine industry.
Apparently, tennis maestro Rafael Nadal is opening a chain of tennis centers at selected vacation resorts around the globe, in a bid to mix pleasure and sports. The athlete’s tennis centers will include a plethora of world-class facilities including soccer field, 8 all clay tennis courts, gym, paddle court, sports bar, etc. These tennis centers will empower sports enthusiasts to learn and undergo training from some of the best tennis coaches across the globe. Increasing global indulgence in sports, due to the growing accessibility of sports facilities, will amplify sports medicine market share.
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It is anticipated that sports medicine market will accrue substantial proceeds between 2019-2025 from body reconstruction product segment, demonstrating a CAGR of 6.4%. Body reconstruction products such as prosthetics, arthroscopy devices, fracture and ligament repair products, and implants are in high demand across hospitals, clinics, and ambulatory surgical centers.
The body reconstruction products are widely adopted to treat shoulder injuries, knee injuries, foot & ankle injuries, wrist & elbow injuries, hip injuries, and spine & back injuries of sports professionals. The risk for spine injury is the highest in wrestling, football, ice hockey, diving, skiing, rugby, and baseball. Credible reports suggest that two-thirds of sports-related spinal cord injuries are due to diving, making it the most dangerous sport for the health of the spinal cord and brain. Increasing incidences of catastrophic sports injuries will help increase body reconstruction sports medicine market share over the forecast duration.
Body support and recovery product segment is poised to accumulate significant gains in the coming years. The most widely deployed body support and recovery products are electrostimulation, compression clothing, thermal therapy, braces and supports, physiotherapy equipment, etc. Increasing instances of reconstruction procedures will positively impact the adoption of these products, as braces, supports, and physiotherapy products are used before and after reconstruction surgery.
Sports medicine market growth is predicted to gain impetus on account of technological advancements in the field of medicine and burgeoning awareness regarding effective medicines & procedures for sports injuries. The rapid rise in the number of fitness and sports enthusiasts, and the lack of qualified sports instructors liable to provide training will augment the incidence rate of sports injuries, thus propelling sports medicine market size. An instance certifying the rise in sports indulgence is of Australia, where cricket participation has grown over 9% in 2016-17, reaching nearly 1.4 million players, claims Cricket Australia’s recent National Cricket Census. The surging sports initiatives and active participation of people will stimulate Australia sports medicine market trends in the coming years.
The introduction of favorable regulatory policies and government laws for promoting sports and fitness among masses, due to burgeoning instances of diseases related to sedentary lifestyle and unhealthy consumption habits, will increase revenue influx for sports medicine market. Lifestyle diseases like diabetes mellitus, hypertension, obesity, and dyslipidaemia are also the leading cause of cardiovascular diseases. Increasing efforts to avoid serious health consequences, such as CVD, will boost sports activities across the globe, thereby elevating sports medicine industry size.
According to a research report by Global Market Insights, Inc., sports medicine market is anticipated to surpass USD 9 billion by 2025.
Author Name : Nikita Chaurasia
Driven by the global prevalence of oral disorders coupled with the increasing demand for non-invasive treatments, dental laser market size is poised to attain massive impetus over the coming years. Oral ailments can lead to severe health conditions such as cardiovascular disease, pneumonia, diabetes, and endocarditis. Hence, rising concerns surrounding oral hygiene among the masses will favor dental laser market share over the forecast period.
U.S. Dental Laser Market, By Product, 2018 & 2025 (USD Million)
The socio-economic burden of periodontitis is likely to rise in the coming years. As a result countries are expected to implement some actions to reduce prevalence rate, which could transform dental laser market outlook in the future. The recent Global Burden of Disease Study indicates that severe periodontitis is the sixth-most prevalent disease globally.
Effective dental care, although important, is very expensive across several nations, depriving a huge part of the population from seeking proper dental measures. However, availability of government aid and insurance schemes which provide fast, convenient, and cost-effective treatment could encourage more individuals to avail dental laser treatments over the coming years. Implementation of value-based dental programs could encourage more patients to seek effective treatment for oral ailments, thereby boosting dental laser market share.
Increasing adoption of minimally invasive or non-invasive dental treatments will boost dental laser industry size in the forecast years. The field of laser dentistry offers the ability to cure severe oral diseases without surgeries. According to Lifetime Holistic Dental, lasers located inside the root canal system kill 10,000 times more bacteria compared to conventional root canal therapies. Moreover, lasers are known to stimulate healing of diseased or inflamed necrotic soft tissue within the infected gum pocket, which is also considered more comfortable compared to gum surgeries. These benefits will surge the preference for non-invasive dental procedures, which will augment global dental laser industry share.
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Adoption of advanced technologies like LiteTouch by Light Instruments would provide a huge push for the global dental laser market. For the uninitiated, LiteTouch is a user-friendly microsurgical dental laser system that is changing the face of dentistry worldwide. Several cities across the world are presently hosting basic courses to demonstrate the concepts of laser light along with an introduction to the numerous applications of LiteTouch. Increasing efforts to boost adoption of such technologies across major hospitals and clinics will further enhance the demand for dental laser treatments in the coming years.
The soft tissue dental laser segment held significant revenue share over the last few years and is expected to continue its growth trend in the succeeding years. This contribution can be attributed to the advantages of soft tissue dental lasers such as effective cutting and improved placement of contemporary restorative materials. Moreover, technological advancements will also aid in segmental growth. For instance, Biolase offers a wide range of Diode lasers including Epic Pro, Epic X, Epic 10, etc. which aid in better soft tissue control and bleeding. Increasing adoption of advanced-grade diode lasers will significantly impact soft tissue dental laser market trends.
Considering geographical development, the North America market is likely to emerge as a profitable regional ground, owing to the increasing pervasiveness of periodontal disease in the region. The Centers for Disease Control and Prevention’s data suggests that half of Americans aged 30 or more suffer from periodontitis. Furthermore, increasing demand for cosmetic dentistry will foster the demand for dental laser treatments in the region, thereby propelling the North America market.
Dental laser treatments are in high demand as they can effectively reduce the need for anesthesia and help relieve anxiety in patients uncomfortable with the use of dental drills. In addition, new innovations paired with government reforms would further proliferate the use of laser technology in dental procedures.
According to Global Market Insights, Inc., dental laser market is anticipated to be worth more than $640 million by the end of 2025.
Author Name : Krithika Krishnan
Technological advancements and growing applications of drones in healthcare sector will provide stimulus to medical drones market. Healthcare organizations are developing drones with diagnostic imaging capabilities that will be capable of assessing health conditions of patients located in remote areas with the deployment of telemedicine technology.
Drones cater to urgent needs of patients with the delivery of required medicines, vaccines, antivenin and blood products in remote places. Convenience offered by technologically advanced drones will lead to their widespread adoption in medical sector and augment medical drones market growth over the forecast period.
U.S. Medical Drones Market Size, By Application, 2018 & 2025 (USD Million)
Drones have been used in the surveillance of disaster sites, areas affected by biological or chemical hazards, as well as tracking disease spread. They can also be used to gather information about the number of patients in need of care in high-risk situations.
Drones have also been used to detect the presence of health hazards, such as heavy metals, aerosols and radiation. As per a study, drones equipped with high-resolution photogrammetry software were used to accurately access and predict cancer risk from high level copper concentrations in agricultural areas.
Many notable industry players operational in medical drones market are implementing several strategies such as new product launches, partnerships and distributional channel expansion in new locations that will help them to capture higher revenue share in medical drones market.
For instance, Zipline, an American medical product delivery company operates small drone aircrafts for delivery of medical products, with a focus on providing services in Africa. The company has become an much on-demand medical drone network service provider. Patients in many Swiss hospitals can now receive results on the day a sample is taken, through Zipline’s effort. Zipline is expanding into Ghana along with expanding its presence this year into North Carolina, to help many out-of-the-way rural medical facilities. The company has plans to serve 700 million people in the next 3 to 4 years.
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Research and development in the medical drone industry is also expected to augment market growth scope. For instance, as many emergency vehicles are delayed from arriving on the scene on time, researchers are extensively testing drones to deliver medical equipment.
Development of drone ambulance is also gaining traction. A drone ambulance has been tested by Peel Regional Paramedics in Ontario to deliver medical supplies. Under the project, both an ambulance and a drone were dispatched at the same time, and every time the drone arrived at the scene first.
These test pilot drones fly at a speed of 80km/h and avoid all traffic that an ambulance would otherwise face. The drones arrive on the scene minutes before paramedics can and deliver a defibrillator to a bystander in case of a cardiac arrest case. These machines are easy to use and could be used before the paramedics arrive in an ambulance. The few extra minutes saved can make all the difference in saving lives when it comes to emergencies. Renfrew Ontario Paramedics are the first service in Canada to get approval from Transport Canada to use drones in medical emergencies.
Medical drones market size from pharmaceutical/drug transfer applications is estimated to witness 25% CAGR through 2025. This significant growth is attributed to capabilities of drones to deliver medications in remote locations in lesser time. These drones help in delivering drugs during severe circumstances such as medical emergencies or natural disasters.
According to a report by UK-based innovation foundation Nesta, the possible rapid transportation of light medical deliveries between hospitals in London and increased speed and reliability achieved due to drone deliveries could cut costs and improve patient care in the UK.
Extensive research is being conducted on delivering medicines or blood in remote areas of Wales. Moreover, improved regulatory scenario for medical drones will prove beneficial for medical drones industry growth.
Central role of drones during emergency cases will positively augment medical drones market size. With advancement in drone technology, it can be predicted that medical delivery through drones will be improved creating immense scope for the future expansion of medical drones industry. Global Market Insights estimates medical drones market size to surpass $399 million by 2025.
Author Name : Aakriti Kakkar
Increasing demand among patients for nonsurgical cosmetic treatments has proliferated global botulinum toxin market, along with the prevalence of numerous medical conditions like migraine headaches and excessive sweating. In recent times, the awareness about botulinum toxin and its various benefits have increased due to the extensive adoption of botulinum toxin therapies by dermatologists for reducing signs of aging as well as eliminating facial lines and wrinkles in people.
U.S. botulinum toxin market, by product, 2018 & 2025 (USD Million)
Out of the two key subtypes, botulinum toxin A is the considered as one of the most potent and has gained rapid and enthusiastic acceptance amid customers. It is now being used clinically with most frequently performed procedures, helping millions to rejuvenate their physical appearance. Botox A will undoubtedly represent a prominent growth segment for botulinum toxin industry players, with beauty salons and spas also providing injectable Botox treatments. Growing trend among middle-aged women to stay young and attractive will subsequently boost botulinum toxin market expansion.
According to the America Society of Plastic Surgeons, Botox treatment is the most prevalent cosmetic medical procedure in the US, with around 7.23 million procedures reportedly performed in 2017. Botulinum toxin A was initially approved by the U.S. FDA for treating crossed eyes and in the year 2002, it was approved for cosmetic treatment. Botulinum toxin market has gained traction in US specifically on the account of treating dermatologic conditions including crow’s feet near the eyes, thick jaw muscles and gummy smiles, achieving optimal results globally and advancing the industry scope.
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Besides cosmetic therapies, botulinum toxin has become a safe and effective therapeutic tool for a wide range of medical conditions including chronic migraines, muscle spasticity, and dysphonia. Apparently, in 2010 it was approved by the U.S. Food and Drug Administration (FDA) for the prevention of chronic migraines. Migraines are the third most common disorder globally, with an estimated worldwide prevalence of 14.7%. Botox injections provide one of the most effective and positive treatments and a prominent study reveals that most people experience reduction in migraine frequency. This will create substantial product demand for botulinum toxin industry, as chronic diseases are leading causes of fatality in people of all ages.
Allergan plc had announced the results of higher doses of its Botox Cosmetic product in 2018 for the treatment of moderate to severe glabellar lines. This trial was significantly helpful in evaluating the duration of effect and safety of the treatment. Such trials indicate the application scope of botulinum toxin market. Allergan had also unveiled 29 presentations including 24 migraine presentations highlighting the company’s innovations for addressing migraine problems. Undoubtedly, innovations and product-driven approaches would pave the way for botulinum toxin industry towards depicting an upward revenue graph in the next few years.
Rising geriatric population around the globe has created opportunities for the application of botulinum toxin in the treatment of spasticity, which causes specific body muscles to be continuously contracted. The disease affects nearly 12 million people worldwide, while 80% of multiple sclerosis patients suffer from varying levels of spasticity. Common occurrence of disorders that cause spasticity, such as strokes, traumatic brain injuries and meningitis will warrant a considerable demand for effective therapies. Oral as well as injected botulinum toxin are considered to be helpful in dealing with cerebral palsy spasticity, reinforcing the market penetration.
With the healthcare sector experiencing significantly higher consumption than before and the surge in preference for nonsurgical cosmetic treatments, botulinum toxin industry is projected to amass tremendous revenues worldwide. Escalating competition among major industry players by executing mergers & acquisitions and innovating transformative therapies will underscore the industry dynamics imminently. Reports suggest that global botulinum toxin market size is anticipated to exceed USD 8.5 billion by 2025.
Author Name : Deeksha Pant
Global light therapy market is slated to witness substantial growth in the ensuing years, primarily due to the high prevalence of dermatological disorders and psychological conditions. The skin utilizes light as a source of energy to rejuvenate damaged cells, which makes dermatological disorders like psoriasis, eczema, vitiligo, and acne primary applications for light therapy market. Shifting preference toward unique and effective skin treatment methods will proliferate product demand in the coming years.
U.S. Light Therapy Market, By Product, 2018 & 2025 (USD Million)
Acne is a common skin condition involving blockage or inflammation of hair follicles that can lead to inflammatory or non-inflammatory lesions. Numbers by the Global Burden of Disease suggests that the condition affects 85% of youngsters between 12 to 25 years of age globally. Growing use of blue light phototherapy and LED light therapy for treating acne will drive light therapy market growth.
The psoriasis segment accounted for significant revenue share in the past and is likely to continue growing in the coming years. According to the National Psoriasis Foundation, the condition affects 125 million people or 2% to 3% of the entire population. In such cases of moderate and severe psoriasis, UV therapy is often considered together with externally applied medication or tablets. Increasing cases of psoriasis throughout the world will boost the demand for UV phototherapy, thus augmenting light therapy industry share.
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Phototherapy is also an effective treatment for psychological conditions, such as depression and anxiety disorder, and can be used together with antidepressant drugs. Depression is a major concern worldwide, primarily attributable to the increasing stress levels from hectic work life. According to WHO, over 300 million individuals of all ages suffer from depression, which is a leading cause of disability and is also known to affect cardiovascular health. Products like SAD lamps are widely used by people suffering from psychological ailments, as they positively influence the circadian system. Increasing penetration of such products will augment light therapy market size.
Growing geriatric population worldwide has increased the demand for home care settings. Phototherapy products such as light therapy mask, lightbox, dawn simulators, floor, and desk lamps help patients receive cost-effective treatments at the convenience of their home. Introduction of favorable health insurance programs or subsidies for home health care will further support the demand for such products, thereby amplifying revenues for light therapy market from the homecare setting end-use segment.
North America light therapy market is poised to garner immense momentum, attributable to the high prevalence of mental and dermatology disorders in the region. Numbers by ADAA reveal that major depressive disorder affects more than 16 million people over the age of 18 in the U.S. Reportedly, over 8 million people are affected with psoriasis in the U.S. Together with growing geriatric population, pervasiveness of mental and dermatology disorders offers numerous growth prospects to North America light therapy market, that accounted for 34% of the industry share in 2018.
The market is bound to witness considerable demand from emerging economies in the Asia Pacific like India and China. High prevalence of depression and anxiety in the region can be attributed to hectic work schedules and inactive lifestyle. This is estimated to boost the demand for SAD lamps and other phototherapy products in the region.
Increasing cases of winter blues across cold regions in Europe and North America will foster regional growth. Furthermore, the increasing buzz around light therapies across social media has contributed to the increasing public awareness concerning the benefits of light therapy for skin, mental, and neurological disorders, thus boosting the demand for light therapy products.
A research report by Global Market Insights, Inc., anticipates light therapy market to be worth more than US $1 billion by 2025.
Author Name : Krithika Krishnan
Growing number of diabetic patients & launch of innovative products to expand ophthalmic sutures market size through 2025
The increasing prevalence of eye diseases has been stimulating the growth prospects of ophthalmic sutures market over the recent years. The growing number of diseases like neuromyelitis optica, diabetes, cataract, etc., along with increasing geriatric populace is leading to a spurt in ophthalmic surgeries. Increasing adoption of robotic surgery for eye operations is also helping ophthalmic sutures market size to expand.
U.S. Ophthalmic Sutures Market Size, By Type, 2018 & 2025 (USD Million)
One of the leading drivers of ophthalmic suture industry is growing number of diabetic patients. In 2017, nearly 425 million of the world’s population reportedly had diabetes, out of which 327 million were aged between 20-64 years and 98 million were aged between 65-79 years. Diabetes causes various visual impairments like diabetic retinopathy, age-related macular degeneration (AMD), diabetic macular edema (DME), cataract, glaucoma etc. which can result into severe vision loss or blindness. The number of diabetic patients has been predicted to rise and reach to 629 million till 2045 in the world.
Among all the diabetic vision impairments, AMD single handedly accounts for 54 percent of all blindness among white Americans. Around 2.9 million Americans aged more than 40 years are projected to suffer from AMD, leading to increase in ophthalmic surgeries. Blindness or low vision has affected 3.3 million Americans age 40 and will reach to 5.5 million by the year 2020. In the year 2018, North America accounted for more than 35 percent revenue share of ophthalmic sutures market and is predicted to increase exponentially in the times to come.
A rather prevalent eye disease caused due to diabetes is diabetic retinopathy which affects people in the age group of 20 to 74. During the first two decades of disease, nearly all patients with type 1 diabetes and more than 60 percent of patients with type 2 diabetes have retinopathy. In the Wisconsin Epidemiologic Study of Diabetic Retinopathy (WESDR), it has been noted that 3.6 percent of younger-onset patients (type 1 diabetes) and 1.6 percent of older-onset patients (type 2 diabetes) were legally blind. In the younger-onset group, 86 percent of blindness was attributable to diabetic retinopathy.
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In the older-onset group, in which other eye diseases were common, one-third of the cases of legal blindness were caused due to diabetic retinopathy. Surgical treatment is recommended to cure diabetic retinopathy and many new techniques to perform surgeries are also being developed, which would create a favorable growth environment for ophthalmic sutures industry.
One of the major causes of blindness is cataract which is estimated to cause bilateral blindness in 20 million people globally. Developing countries have been reported to contribute around 50 percent to 90 percent of blindness caused by cataract. Many such surgeries use ophthalmic suture needles – a factor that would contribute to the growth of ophthalmic suture market.
Speaking about the ophthalmic suture manufacturers, Surgical Specialties Corporation (SSC), a global producer of ophthalmic suture needles and equipment, has reportedly launched Caliber Ophthalmics, its latest business division. Caliber Ophthalmics combines Sharpoint™ brand of SSC, which has gained a trusted status serving ophthalmic surgeons for more than 50 years. With its two recent ophthalmic acquisitions, VPM Surgical, Inc. and Unique Technologies, Inc., the Caliber Ophthalmics has been created to focus on the growing needs of ophthalmic customers around the world and accelerate the technological advancements in eye care.
A significant instance of a renowned ophthalmic suture manufacturer which has focused on acquisitions is that of Johnson and Johnson. The company recently acquired Abbott Medical Optics for $4.325 billion. The deal will include ophthalmic products in three areas of patient care: consumer eye health, cataract surgery and laser refractive surgery. These product ranges would now join the globally renowned ACUVUE® Brand Contact Lenses business and the combined organization will operate under the brand name Johnson & Johnson Vision (J&J Vision). At nearly $70 billion, eye health is one of most underserved segments in healthcare sector today – a statistic which reinforces the positive growth outlook for ophthalmic sutures market.
Driven by increasing number of patients with vision impairments, rise in cataract surgeries, and companies expanding their portfolio with innovative products, the overall ophthalmic sutures industry share is set to grow exponentially in the forthcoming years. According to a research report, the remuneration scale of ophthalmic sutures market is predicted to exceed USD 443.5 million by the year 2025.
Author Name : Anchal Solanki
Global breast milk substitutes market has been witnessing a steady growth rate over the last few years owing to increased awareness about alternative products and a larger female population finding it difficult to maintain work-life balance. Today, working mothers get lesser time to feed their babies and greatly rely on infant formulas which help to build up their babies’ nutritional profile efficiently. Mother’s own milk is considered as the best source of nutrition for infants and it is broadly recognized as a biological fluid required for optimal infant growth and development. However, a prominent study reveals that only 38% of infants are wholly breastfed globally.
U.S. Breast Milk Substitutes Market, By Substitute Type, 2018 & 2025 (USD Million)
Infant formula is intended to be an effective substitute for feeding toddlers as it includes nucleotides, iron, and compositions of fat blends. Soymilk and milk-based formula are most commonly used as the main nutritional component base not only to attain better health benefits but also to offer food in a predigested form. The enormous presence of the online marketplaces and abundance of local retail stores make these products easily accessible to consumers. Reports confirm that in 2018 the retail segment constituted nearly 45% share of breast milk substitutes market worldwide.
Demand for infant formula products has received a boost on account of certain physical problems that mothers face during the phase of breastfeeding which includes lactation failure or a low breast milk supply and problems due to illegal use of drugs at the time of pregnancy. Besides, many women could also be affected by infectious diseases like HIV, Herpes and human T-cell lymphotropic virus (HTLV). With regard to these factors, many research studies validate the positives of using baby formula and propelled consumption for the global breast milk substitutes industry.
Several governmental and non-governmental organizations are highly focused towards preventing inappropriate marketing of infant food products which affect a child’s health. The International Code of Marketing of Breast-milk Substitutes and World Health Assembly (WHA) resolutions remain crucial tools to eliminate or reduce inapt marketing practices and to ensure companies are guided about appropriate labelling requirements for infant formula and breast milk substitutes.
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Nutrition labelling requirements worldwide include format and nutrient information, along with maximum sodium levels, since food producers are prohibited from selling or advertising an infant food which contains more level of sodium than that mentioned in the Food and Drug Regulations. Also, it is vital to mention on the label of infant foods which age group the product is suitable for. Implementation of stringent codes by the government could act in favor of companies to increase their product reliability by following guidelines accurately, expanding the scope of breast milk substitutes industry.
On account of tremendous technological advancements, the U.S. has been witnessing a boom in consumption of infant food products. In fact, U.S. breast milk substitutes market share is projected to hit $22.1 billion by 2025. Mead Johnson, a US-based baby formula maker was acquired by Reckitt Benckiser in 2017 in a deal $16.6 billion. The merger was expected to result in a medium to long-term growth of 3% to 5% for the company’s children’s nutrition portfolio and the global infant category of Mead Johnson, which is a prominent breast milk substitutes industry player.
Danone, a French multinational food-products manufacturer that was ranked number one in marketing of breast milk substitutes in the year 2018. The company’s global score had surged on the dimension of marketing this vital category of products, besides being recognized for publishing its Nutritional Targets 2020. With recognitions and advanced product developments offering immense opportunities to food manufacturing companies, breast milk substitutes market is poised to witness accelerated competition in the near future.
Fast-paced growth in disposable incomes along with consistently rising number of working mothers in developing nations will fuel the consumption of infant formula and other alternative food products. Reports have estimated that global breast milk substitutes market will exceed annual valuation of $119 billion by 2025, with companies being subject to strict regulatory regulations that will eventually favor the broad consumer base.
Author Name : Deeksha Pant
The overall multiparameter patient monitoring market has been gaining increasing impetus mainly due to the ever-expanding global geriatric population, the increasing incidence of chronic diseases and the impressive pace of technological advancements recorded in the medical equipment sector. Multiparameter patient monitoring systems are an indispensable part of the healthcare fraternity as healthcare professionals cannot be continually present with a patient even in the most highly staffed hospitals.
U.S. Multiparameter Patient Monitoring Market Size, By Device Type, 2018 & 2025 (USD Million)
Various electronic monitoring equipment play the part of patient monitoring when the patients are not under the direct supervision of a doctor or nurse and various health parameters such as body temperature, electrical activity of the heart, blood pressure, cardiac output, respiration rate and amount of oxygen and carbon dioxide in the blood are measured by these devices.
With technological advancements these equipment are becoming more potent like becoming wireless and portable and multiparameter patient monitoring market participants are increasingly vying with each other to maintain a competitive edge in the industry.
Some of the major players in the multiparameter patient monitoring industry such as Medtronics, Philips Healthcare, Epsimed, Mediana, KizlonMedical, Medion Healthcare, Skanray Technologies, Masimo, Opto India, OSI Systems etc. have been contributing towards the growth of the market with designing more sleek, easy to operate machines.
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Increasing investment in the multiparameter patient monitoring market and related R&D is also being driven by continual association of medical device manufacturers with clinicians who have given rise to a demand for reliable and easily operable machines at competitive costs. The multiparameter patient monitoring market is expected to register considerable growth with the adoption of such systems in hospitals and ambulatory surgical centers as they are in highly effective in places like labs and treatment suites, emergency department, intensive care suites, general ward recovery and post-anesthesia recovery.
Each treatment arena requires differing levels of diagnostic but also remain compatible and connectable to medical records. Such requirements are driving greater innovation in the field of multiparameter patient monitoring and paving the way for industry expansion.
Beside the requirement of biomedical staff who want straightforward use of the basic features without confusion, evolving regulatory requirements have also fueled investment and need for technological innovation in multiparameter patient monitoring as superior detection of patient status deterioration with fully integrated interventions has become compulsory for reduction of morbidities and mortalities.
The device manufacturers are not only required to ensure easy operability of monitoring systems in clinical use scenarios, but also for patients who would be using such systems at home. Manufacturers must also keep abreast of ever-changing requirements for medical devices from regulatory agencies and must ensure compliance with quality standards for product development and manufacturing. The regulatory frame of reference established at a global level is anticipated to add greater stimulus to the multiparameter patient monitoring industry growth.
Regionally, China is a major market for multiparameter patient monitoring industry. As per estimates, China multiparameter patient monitoring market size is anticipated to register a CAGR of 4.8% over 2019-2025, driven by the expansive prevalence of cardiovascular diseases that is expected to rise further in the ensuing years. Aided by the rising occurrence of cardiovascular diseases and the increasing healthcare expenditure in the region, China multiparameter patient monitoring industry share will proliferate over 2019-2025.
With hospitals and other medical institutions drawing positive results from the use of such devices, it is predictable that device manufacturers with innovative, progressive device designs will garner greater interest as well as investments in the years ahead. As competition in the multiparameter patient monitoring market becomes stronger by the day, the industry is expected to register robust growth trends over 2019-2025.
Author Name : Paroma Bhattacharya
The global negative pressure wound therapy market is poised to garner substantial returns over the coming years owing to numerous benefits compared to conventional wound care methods. NPWT methods, also known as wound vac therapy, helps in wound healing by applying a vacuum using special sealed dressing. The vacuum draws out fluid from the wound and improves blood flow to the affected area.
U.S. Negative Pressure Wound Therapy Market Size, By Type, 2018 & 2025 (USD Million)
One of the main factors propelling the global NPWT market is the rising prevalence of chronic disorders like diabetes and cancer. Bodily wounds, in such cases, if left untreated could lead to amputations. The adoption of NPWT devices for faster recovery and more effective treatment of such conditions will drive global negative pressure wound therapy industry share in the ensuing years.
Increasing adoption of sedentary lifestyle, especially in urban regions, has paved the way for unhealthy habits such as lack of exercise, unhealthy snacking, high alcohol intake, and more. This has increased susceptibility towards conditions like diabetes among individuals of all age groups. Foot ulcerations are a frequent complication in diabetic cases, often due to peripheral and autonomic neuropathy. Use of NPWT devices for the treatment of such cases will propel negative pressure wound therapy market.
Skin burns also account for considerable proceeds due to the high occurrences of fire accidents, and lack of fire safety in residential and commercial structures. Burns can lead to severe infections, disability, and in worst cases even death. Patients with severe skin burns are often advised to receive negative pressure wound vac therapy for fast and effective recovery. The advantages associated with NPWT devices for burn injuries will trigger negative pressure wound therapy industry growth.
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Industry players are aiming to introduce more advanced wound care procedures and devices that can aid in faster recovery and involve minimally invasive procedures. Adoption of such technologies will further propel negative pressure wound therapy industry share.
On the basis of type, the NPWT market is bifurcated into single-use negative pressure or conventional negative pressure wound therapy. The single-use negative pressure wound therapy type has amassed hefty valuation in the past and is anticipated to continue its growth trend in the coming years. The use of single-use NPWT devices for faster recovery from burns, infections, and ulcers is estimated to increase given the rising prevalence of chronic ailments, which will continue to foster segmental growth.
Conventional NPWT devices are slated to witness considerable growth owing to the emergence of ambulatory surgical centers. Conventional NPWT treatments are inexpensive compared to advanced NPWT treatment, hence, ambulatory surgical facilities majorly depend on these treatments to provide low-cost services. Conventional NPWT therapy offers almost all features of single-use NPWT devices with the advantage of reusability, which would be a major factor influencing conventional NPWT devices market growth in the coming years.
North America NPWT market is likely to procure significant revenue share in the succeeding years. The region comprises developed nations like the U.S and Canada, both of which rank among the world’s most overweight countries. On account of the high obesity rates, the prevalence of chronic ailments is high, which is a positive influence for the region’s negative wound vac therapy demand. Moreover, increasing FDA approvals for NPWT devices will further escalate North America negative pressure wound therapy industry.
The high success rates of NPWT devices will continue to encourage the adoption of negative pressure wound vac therapy. Furthermore, the proportion of industry players in the market is moderate, meaning there is scope for new entrants seeking growth opportunities in the NPWT industry, which will help expand market size in the future.
According to a research report by Global Market Insights, Inc., negative pressure wound therapy market is anticipated to surpass $2.5 billion by the end of 2025.
Author Name : Krithika Krishnan