U.S. trauma fixation devices market, by product, 2018 & 2025 (USD Million)
Rising prevalence of road accidents is anticipated to strengthen trauma fixation devices industry outlook, as most of these incidents can lead to significant health repercussions. Road traffic crashes have become one of the leading causes for death and disability worldwide and the World Health Organization (WHO) reports that over 1.25 million people die annually due to these accidents. Increasing number of mishaps involving vehicles and pedestrians which lead to traumatic injuries will play a key role in the growth of surgical procedures and emergency care units.
Trauma fixation devices are used for complex technical procedures and handling the latest products in the industry requires excellent precision and accuracy. The lack of trained professionals to operate advanced devices and perform vital operations will slightly hamper the adoption of fixation devices but will encourage companies to develop more efficient and easy to implant products. Majority of the underdeveloped and developing economies are lacking in crucial healthcare infrastructure and access to medical devices, offering notable revenue prospects to expand trauma fixation devices market size.
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Fractures in adults are extremely challenging to treat and can often lead to complications as well as need for re-surgery. Although plate fixation is a reliable fracture fixation method, its increasing infection rate has resulted inclination of practitioners towards external hybrid fixation methods, which have proven to produce favorable results. Novel products, such as Depuy Synthes’ Synthes hybrid fixator, are external fixators that form a structure to stabilize distal or proximal tibial fractures. External hybrid trauma fixation devices industry will certainly generate substantial remunerations in the years to come.
Growing instances of sports injuries on account of increased focus of people towards sports and other physical activities will inadvertently drive the consumption of medical devices. Increasing number of career options in the sports industry will augment the frequency of traumatic injuries, which will further influence the need for trauma fixation devices. In United States alone, close to 30 million children and teens engage in some form of physical activity, out of which over 3.5 million kids suffer from injuries, and roughly 77% of these involve lower leg, ankle or foot. Undoubtedly, rising occurrence of injuries from sports activities will fuel trauma fixation devices industry trends in the region.
Increased frequency of arthritis among the middle-aged and elderly population is another factor that will impact the deployment of trauma fixation devices. Evidently, arthritis has become one of the major causes of disability among adults all over the world. Statistically, close to 54 million U.S. adults have doctor-diagnosed arthritis. Within a period of 10 years since its detection, over 50% patients in developed countries globally fail to maintain a full-time job. Significant incidence of arthritis worldwide will create a demand for effective fixation procedures, which in turn will foster North America trauma fixation devices market size.
The advent of nanotechnology has unlocked fresh new possibilities and unexplored areas in the field of trauma fixation devices. The use of silver nanoparticles for coating of implantable devices to inhibit the growth of infection-causing bacteria is perhaps a pioneering applications nanotechnology in medicine. The smaller size of the compound enhances the solubility due to an increased surface area, which is an important property of nanotech devices. Growing concerns regarding infections caused by implantable fixation devices and advancements in the combining nanotechnology with healthcare will impact trauma fixation devices market share in a constructive manner.
With considerable efforts towards innovating more safe products, trauma fixation device makers will exhibit remarkable progress over forecast timeframe. Introduction of bio-absorbable implants will enormously transform the concept of trauma fixation. Major players including Stryker, Wright Medical Group, Zimmer Biomet and Johnson & Johnson have displayed strong dominance over the industry. Reports estimate that global trauma fixation devices market share will surpass USD 9.5 billion by 2025.
Author Name : Hrishikesh Kadam
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
Biomedical refrigerators and freezers market to witness substantial demand from blood banks, APAC to be a major revenue pocket
Biomedical refrigerators and freezers market is widening its horizon with the recent technological progressions in health care IT. Rising prevalence of chronic infectious diseases, especially across geriatric population base, is increasing the demand for personalized drugs, which in turn is providing lucrative business space for the overall industry. An exponential increase in the number of blood banks both across developing as well as developed nations have played a key role behind this industry’s substantial growth in past years. Another factor which is influencing the market dynamics is the growing regulatory norms regarding harmful GHG emissions control which is allowing the investors to redirect their focus from conventional refrigeration to a more ecofriendly refrigerating solution. According to Global Market Insights Inc., “Biomedical refrigerators and freezers market worth over USD 2.4 billion in 2015, is poised to exceed a revenue of USD 3.4 billion by 2024, growing at a CAGR of 4 % over the period of 2016-2024.”
U.S. Biomedical Refrigerators and Freezers Market Size, By Product, 2012- 2024 (USD Million)
The rising demand for blood transfusion and growth of advanced blood blanks has intensified the demand for plasma freezers across the globe. Of the key varieties of refrigerators and freezers used in the biomedical sector, the plasma freezer is likely to witness lucrative growth prospects, having collected revenue worth USD 774 million in 2015. Owing to the extensive use of the plasmapheresis technique across hospitals and blood banks will spur the adoption this product. The global plasma freezers market is estimated to surpass USD 1073 million by 2024. Other product segments of biomedical refrigerators and freezers market include blood bank refrigerators, lab refrigerators, ultra-low temperature freezers, and shock freezers. Amongst these, blood bank refrigerators segment was worth USD 704 million in 2015, owing to its increasing deployment in medical, scientific, and research sectors.
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The plasma freezers and blood bank refrigerator’s escalating installation across Latin America is providing lucrative business opportunities for the regional market to expand at a faster pace. Latin America biomedical refrigerators and freezers market is anticipated to generate a revenue of more than USD 200 million by 2024 with a projected annual growth rate of 4.9% over the period of 2016 -2024. Brazil covered more than 52% of the regional market share in 2015, and is slated to collect a revenue of USD 107 million by 2024. Moreover, surging investment in research activities will also favor biomedical refrigerators and freezers industry growth in this region.
Asia pacific biomedical refrigerators and freezers market will exhibit flourishing growth prospects over the years ahead, owing to growing investment in R&D activities, rising development across the biotechnology and pharmaceutical sectors.
Blood banks in biomedical refrigerators and freezers market was the dominant application segment, occupying more than 38% of overall revenue share and collecting more than USD 932 million in 2015. Blood bank refrigerators are suitable for storing whole blood or blood component products and the application segment is predicted to register a CAGR of 4.3% over the period of 2016-2024.
Hospitals turned out to be the second highest revenue generator for the biomedical refrigerators and freezers market. In 2015, this segment was worth USD 543 million. Apart from these two applications, pharmacies and diagnostic centers due to their growing popularity will also witness a considerable growth over the coming seven years.
U.S. biomedical refrigerators and freezers industry size accounted for more than 73% of regional market share in 2015 and will collect significant revenue over the coming timeframe. The growth attributing factors are surging demand for personalized medicines and escalating occurrence of infectious and chronic diseases. In addition to this, supportive initiations taken by the government will also influence biomedical refrigerators and freezers industry size.
Biomedical refrigerators and freezers industry in Europe will collect a revenue of USD 800 million by 2024, primarily driven by growing investment by prominent manufacturing companies. Germany and UK will contribute significantly toward the regional growth.
Biomedical refrigerators and freezers industry giants are shifting their focus on innovative technological advancement in the product to expand their global reach. The notable participants in biomedical refrigerators and freezers market include Eppendorf, Philipp Kirsch GmbH, Aegis Scientific, Helmer Scientific, Panasonic Healthcare, Haier Biomedical, Terumo Corporation, Leibherr Group, and Thermo Fisher Scientific.
Author Name :Satarupa De
Inhalation anesthesia market is poised to attain substantial growth in the coming years owing to the increasing number of surgical procedures and prevalence of chronic diseases. Advancements in anesthesia products, surgical techniques and availability of novel drugs are mainly responsible for the progress of day care surgeries. With the emerging demand for surgical products and the widespread application of various equipment, inhalation anesthesia industry has positively established its presence across the globe and will witness positive growth trends over the forecast period.
The product terrain of inhalation anesthesia market includes Sevoflurane, Desflurane, Xenon, and Isoflurane which are widely used during clinical surgeries. Among these, Sevoflurane is known as general anesthetic and is broadly adopted as an agent for inhalational inductions. Sevoflurane is extensively useful in children and adults for both induction and maintenance purpose, since it exhibits low reactivity with other drugs and minimal cardiovascular and respiratory side effects. In 2018 Sevoflurane segment in inhalation anesthesia market had recorded more than USD 950 million in revenues and is likely to register further growth in upcoming years.
U.S. Inhalation Anesthesia Market, By Product, 2018 & 2025 (USD Million)
Isoflurane is considered to be one of the most advantageous options for neurosurgical patients due to its ability to reinforce muscle relaxant activity and support the expansion of systemic vessels. Moreover, scarce economic resources and rise in the growth of advanced surgeries due to the ever-surging patient population has massively advanced the concept of minimal invasive surgeries. This has allowed more advanced surgical procedures to be performed on day care basis to ensure safer, faster and cost-effective patient turnover, offering lucrative prospects for global inhalation anesthesia market.
Speaking about the rising need for of ambulatory surgeries, the dramatically increase has resulted from the consistent improvements in anesthesia techniques with reduced side effects. Furthermore, suitable discharge criteria and minimal invasive surgical techniques have also influenced the rate of occurrence of ambulatory surgeries. In the present scenario, ambulatory surgical centers (ASCs) are becoming the prominent choice for patients as well as physicians because of their ability to perform complex surgeries in a very short period of time, inherently propelling inhalation anesthesia industry size.
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Sandoz, a Novartis division, had reportedly launched Desflurane liquid for inhalation in 2018, making it the first generic version of Suprane in the U.S. It is used as an inhalation agent for outpatient and inpatient surgeries in pediatric patients. Driven by the exceptional efforts of healthcare companies and increasing number of surgical procedures, there has been a remarkable demand for anesthetics, reinforcing inhalation anesthesia industry outlook. Presence of suitable guidelines for preparing pediatric anesthesia environments will further support the adoption of novel inhalation anesthetic products safe for infants and children.
Over the past few years, the health services sector has expanded at a significant rate on account of an increase in demand for modern healthcare facilities, high-grade medical infrastructure and improved health consciousness among people. This has helped key players to direct their efforts towards expanding their geographical reach, grow their physician networks and build R&D capabilities, which will fuel inhalation anesthesia market size. Joint ventures, partnerships and collaborative arrangements are taking place within the healthcare sector, providing ample opportunities to various pharma companies to establish their presence in the market.
Some of the prominent industry players that are commendably driving the penetration of inhalation anesthetic products include Hikma Pharmaceuticals, Novartis, Jiangsu Hengrui Medicine, Halocarbon Products, and Fresenius Kabi. Augmented research activities driven by a continuously expanding consumer base will underscore the competitive landscape. Reports estimate that by 2025, global inhalation anesthesia market share will surpass annual revenues of USD 1.9 billion.
Author Name : Deeksha Pant