Medical Devices

Research Press Releases in Medical Devices

Electrophysiology Ablation Catheters Market
April, 2024

New York, April 2024: According to a new research study by Global Insight Services (GIS), the global Electrophysiology Ablation Catheters Market is expected to grow rapidly over the next 10 years to reach a value of more than USD 33.1 billion by 2033.

Electrophysiology ablation catheters are medical devices used in the treatment of arrhythmias or irregular heartbeats. Ablation is a procedure that uses heat, freezing, or radiofrequency energy to destroy a small area of heart tissue that is causing an irregular heartbeat. The ablation catheter is inserted through the femoral vein or the jugular vein and guided through the heart to the area of the heart causing the arrhythmia.

The ablation catheter is connected to an electrophysiology (EP) system that uses electricity to map the heart’s electrical activity. The EP system helps the doctor identify the exact location of the abnormal electrical signals that are causing the arrhythmia. Once the exact location is identified, the ablation catheter is used to destroy the tissue in that area. This can be done using either high-frequency radio waves or extreme cold temperatures.

The ablation catheter is designed to provide the doctor with precise control over the amount of energy that is delivered to the targeted area. This helps the doctor to accurately destroy only the tissue causing the arrhythmia, while leaving the surrounding healthy tissue intact.

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Electrophysiology Ablation Catheters Market: Key Trends and Drivers

Electrophysiology Ablation Catheters technology has seen tremendous growth and advancements over the years. This technology is used for treating cardiac arrhythmias, which are abnormal heart rhythms. It is a minimally invasive procedure that uses radiofrequency energy to destroy small areas of heart tissue that cause the abnormal rhythm. It has become a popular option for treating cardiac arrhythmias due to its effectiveness and low risk of complications.

The key trends in Electrophysiology Ablation Catheters technology are:

1. Miniaturization: The size of catheters has been decreasing over the years, with the latest models being smaller than ever before. This has allowed for easier access to the heart and other organs, reducing the need for invasive procedures.

2. Improved Imaging: Advances in imaging technology have allowed for improved visualization of the heart and surrounding structures. This has allowed for more precise ablation and better outcomes.

3. Increased Accuracy: The accuracy of the ablation procedure has been increased with the use of computer-assisted systems that can identify the exact location of the abnormal tissue. This has allowed for more precise ablation and fewer complications.

Electrophysiology (EP) ablation catheters are medical devices used in the diagnosis and treatment of arrhythmias, or irregular heart rhythms. They are used to identify and treat abnormal heart rhythms caused by arrhythmias, or anomalies in the electrical activity of the heart. EP ablation catheters are used to destroy tissue in the heart that is causing the arrhythmia, and can be inserted through a vein in the leg or through a small incision in the chest.

The key drivers of the Electrophysiology Ablation Catheters market are the increasing prevalence of cardiovascular diseases, technological advancements in electrophysiology ablation catheters, growing awareness about the treatments, and the rising geriatric population.

The increasing prevalence of cardiovascular diseases is one of the major drivers of the Electrophysiology Ablation Catheters market. According to the World Health Organization, cardiovascular diseases are the leading cause of death globally, and the number of people affected by it is expected to increase in the coming years. This is because of the changing lifestyle and dietary habits of people, resulting in increased risk of developing cardiovascular diseases. As the prevalence of cardiovascular diseases increases, the demand for Electrophysiology Ablation Catheters is also expected to increase.

Technological advancements in Electrophysiology Ablation Catheters are also driving the market growth. Companies are investing heavily in research and development activities to develop new and advanced ablation catheters that can offer better accuracy and efficiency. For instance, Medtronic’s Arctic Front Cardiac CryoAblation catheter is designed to provide improved accuracy and safety during ablation procedures. This catheter uses a combination of radiofrequency energy and extreme cold to target and destroy the abnormal heart tissue.

Electrophysiology Ablation Catheters Market: Restraints and Challenges

The Electrophysiology Ablation Catheters market is a rapidly growing industry that is expected to continue to grow in the coming years. However, the market is not without its restraints and challenges.

The primary restraint in the Electrophysiology Ablation Catheters market is the high cost associated with the catheters. Ablation catheters are an expensive piece of medical equipment that can cost thousands of dollars. This high cost can be a barrier to entry for many potential customers, as well as for smaller hospitals or clinics that may not have the budget to purchase the catheters.

Another restraint is the availability of trained personnel to operate the catheters. Ablation catheters require specialized training and expertise to operate safely and effectively. This limits the number of potential customers who may be able to purchase and use the catheters, as well as the number of qualified personnel available to operate them.

Finally, there is a lack of standardization in the market. Different manufacturers may use different designs and materials for their catheters, making it difficult for buyers to compare the quality and effectiveness of the various catheters. This can lead to confusion and uncertainty for potential customers, which can be a barrier to entry for the market.

These restraints and challenges can be addressed by increasing the availability of trained personnel, standardizing the design and materials used in the catheters, and improving the affordability of the catheters. If these issues are addressed, the Electrophysiology Ablation Catheters market can continue to grow in the coming years.

Electrophysiology Ablation Catheters Market Report Findings

https://www.globalinsightservices.com/reports/electrophysiology-ablation-catheters-market

The Ablation Catheters segment is anticipated to dominate the market during the forecast period

By Product, the market can be divided into Lab Devices, Ablation Catheters, and Diagnostic Catheters. The Ablation Catheters segment has dominated the segment with the highest revenue in 2023. Additionally, this segment is expected to be the fastest-growing segment in the coming years. The segmental growth is due to technological advancements in catheter design and materials enhance their precision and effectiveness in treating cardiac arrhythmias. Additionally, the increasing prevalence of conditions like atrial fibrillation fuels the demand for ablation procedures, where catheters play a crucial role. Moreover, rising adoption of minimally invasive techniques boosts the use of ablation catheters as they offer safer and quicker alternatives to traditional surgery. Furthermore, expanding healthcare infrastructure and growing awareness about cardiac health contribute to the market’s expansion.

The AVNRT segment is anticipated to dominate the market during the forecast period

By Indication, the market can be divided into AF, AVNRT, and WPW. The AVNRT segment has dominated the segment with the highest revenue in 2023. Additionally, WPW segment is expected to be the fastest-growing segment in the coming years. AVNRT is a common type of supraventricular tachycardia that affects the heart’s electrical system, leading to rapid heart rates. Ablation catheters play a crucial role in treating AVNRT by selectively targeting and disrupting abnormal electrical pathways in the heart. The increasing prevalence of AVNRT, coupled with advancements in ablation techniques and technologies, fuels the demand for catheter ablation procedures. Moreover, the minimally invasive nature of ablation procedures enhances patient outcomes, driving adoption in AVNRT treatment. Additionally, growing awareness about arrhythmia management and expanding healthcare infrastructure further contribute to the segment’s growth.

The Hospitals segment is anticipated to dominate the market during the forecast period

By End-User, the market can be divided into Hospitals and ASCs. The Hospitals segment dominated the segment with the highest market share in 2023. Additionally, ASCs segment is expected to be the fastest-growing segment in the coming years. Hospitals serve as essential hubs for conducting complex medical procedures, including electrophysiology ablation procedures. As the prevalence of cardiac arrhythmias increases globally, the demand for electrophysiology services, including catheter ablation, rises correspondingly. Hospitals, equipped with advanced cardiac electrophysiology laboratories and skilled healthcare professionals, are well-positioned to cater to the growing patient population requiring ablation procedures. Additionally, hospitals often invest in cutting-edge medical technologies and devices, including ablation catheters, to offer patients the latest treatment options and ensure optimal clinical outcomes. Moreover, collaborations between hospitals and medical device manufacturers for research, training, and technology adoption further drive the utilization of ablation catheters in hospital settings.

The North America region is anticipated to dominate the market during the forecast period

By Region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. The North America region is anticipated to dominate the market during the forecast period followed by Asia Pacific. North America boasts advanced healthcare infrastructure, including state-of-the-art medical facilities and skilled healthcare professionals, making it a key market for electrophysiology procedures. Factors such as a high prevalence of cardiac arrhythmias, increasing adoption of minimally invasive treatments, and rising awareness about advanced cardiac care drive the demand for electrophysiology ablation catheters in the region. Additionally, supportive reimbursement policies, robust research and development activities, and strategic collaborations between healthcare institutions and medical device manufacturers further fuel market growth in North America.

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Competitive Landscape

The global sunflower seed market report includes players like Abbott (US), Medtronic (Ireland), Boston Scientific Corporation (US), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Siemens Healthcare GmbH (Germany), Stereotaxis, Inc. (US), Merit Medical Systems (US), Atricure Inc. (US), APN Health, LLC (US), and Osypka Medical (Germany).

Recent Developments
  • In February 2024, Boston Scientific (BSX) recently received approval from the FDA for its FARAPULSE Pulsed Field Ablation (PFA) system. This system is used to isolate pulmonary veins in treating paroxysmal atrial fibrillation (AF) that doesn’t respond to medication and keeps coming back. It offers a new approach to treatment compared to the usual thermal ablation. This approval is significant for the large number of people with paroxysmal AF, providing doctors in the US with a new tool for this type of treatment. This development will also greatly benefit Boston Scientific’s Electrophysiology business in the Cardiovascular segment.
  • In January 2024, CardioFocus, a company specializing in treating heart rhythm disorders, has acquired the Electrophysiology Technology division from Galvanize Therapeutics. This acquisition includes the CENTAURI System, a device with CE marking that generates pulsed electric fields, and the QuickShot catheter ablation system, which is currently under development and includes a large area focal catheter. The CENTAURI System, available in the UK and the EU, is designed to disrupt abnormal heart signals that cause atrial fibrillation, using a unique waveform and compatible with various ablation catheters and mapping systems. CardioFocus anticipates this acquisition will strengthen its position in the medical device industry, offering a comprehensive range of ablation technologies. The company’s portfolio now includes the HeartLight X3 catheter ablation technology and the HeartLight X4 pulsed field ablation balloon, designed for pulmonary vein isolation in a single shot. Human trials for these technologies are expected to start in 2024.
  • In December 2023, Ajax Health has announced the launch and financing of Cortex, a medical technology company focused on developing a comprehensive solution for treating atrial fibrillation (AFib), a common heart rhythm disorder affecting millions worldwide. Cortex has secured $90 million in funding, led by KKR and Hellman & Friedman (H&F), with contributions from other investors like AI Life Sciences. Cortex aims to combine innovative technologies in electrophysiology to advance the development and validation of advanced ablation solutions and specialized AFib mapping technology. Their integrated solution aims to enhance therapy planning and delivery, improve patient outcomes and safety, and streamline procedures for AFib treatment.
  • In September 2023, Field Medical has secured $14 million in seed funding through convertible notes supported by private and strategic investors, as stated in their announcement. The company intends to utilize this funding to initiate first-in-human clinical trials in early 2024. Additionally, they plan to expand their focus beyond intermittent atrial fibrillation (afib) to include electrophysiology procedures and other types of arrhythmias in the future.
Electrophysiology Ablation Catheters Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Electrophysiology Ablation Catheters Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Electrophysiology Ablation Catheters Market in terms of revenue ($Million) and Volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Electrophysiology Ablation Catheters industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Electrophysiology Ablation Catheters Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Electrophysiology Ablation Catheters Market along with current trends and future estimations to depict imminent investment pockets. The overall Electrophysiology Ablation Catheters industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Electrophysiology Ablation Catheters Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segments

By Product

  • Lab Devices
  • Ablation Catheters
  • Diagnostic Catheters

By Indication

  • AF
  • AVNRT
  • WPW

By End-User

  • Hospitals
  • ASCs

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
Read More

Infertility Treatment Market
April, 2024

Infertility Treatment Market to Reach USD 4.1 Billion by 2033, driven by the growing healthcare market in emerging countries and rising trend of late marriages across the globe: Global Insight Services

New York, April 2024: According to a new research study by Global Insight Services (GIS), the global infertility treatment market is expected to grow rapidly over the next 10 years to reach a value of more than USD 4.1 billion by 2033.

The inability of a person to reproduce naturally is known as infertility. There are several causes of infertility. The few causes include the aging of the mother, ovulatory problems, tubal obstruction or blockage, sex-transmitted diseases, immunological infertility, genetics, and infertility brought on by male factors. One way to treat infertility is to raise awareness. Other alternatives include IVF (in vitro fertilization), insemination, and drugs that help the body develop during the ovulation phase. The fertility procedure in which the body processes the sperm and eggs out of the body is referred to as assisted reproductive technology (ART). In an ART operation, a woman’s ovaries are surgically removed, her eggs are fused with sperm in a lab, and either she returns the eggs to her body or donates them to another woman. With the aid of many diagnostic techniques, including ultrasound, physical examination, and evaluating sperm count & quality, among others, infertility can be identified in both men and women.

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Infertility Treatment Market: Key Trends and Drivers

Due to a variety of circumstances, including the rising trend of late marriages and the rise in age-related infertility, the fertility rate globally is progressively dropping. By 2030, it is predicted that there will be 2.4 offspring for every woman worldwide, and by 2050, there will be 2.2. The need for infertility treatment items that identify the reproductive window in males and females has significantly increased as a result of the dropping fertility rate.

Similarly, players in the infertility treatment market can expect to find considerable growth possibilities in emerging markets like China, India, Brazil, and Mexico. The increased emphasis on healthcare infrastructure upgrades is what distinguishes the market for infertility treatments in Asia and other emerging nations. The medical tourism sector is also flourishing in developing nations for a variety of reasons. Numerous doctors and surgeons throughout Asia have received their training at prestigious institutions in the US and Europe, and healthcare facilities and procedures are of a high standard. Emerging nations like India, China, Singapore, Thailand, Brazil, and Malaysia offer a lot of potential for the expansion of the market for infertility treatments. Players are increasingly focusing on strategic agreements/partnerships with regional/domestic players, geographical expansions, and acquisitions to increase their presence in these markets and tap a large number of customers in order to take advantage of the significant growth opportunities in emerging countries. Additionally, government measures to make infertility treatments more accessible as well as the rise in fertility clinics are causing an increase in infertility treatment procedures in developing nations.

Infertility Treatment Market: Key Trends and Drivers

Thousands of rounds of ART procedures including in vitro fertilization (IVF) are carried out year across the globe in addition to reproductive surgery. Due to the absence of reimbursement policies, the cost of IVF therapy varies from nation to nation. The development of this market is being constrained by a lack of insurance coverage and a problematic reimbursement environment in several regions of the world.

Infertility Treatment Market Report Findings

https://www.globalinsightservices.com/reports/infertility-treatment-market/

The equipment segment is anticipated to capture the largest share in infertility treatment market

Based on the product, it is segmented into equipment, media & consumables, and accessories. The equipment segment is anticipated to capture the largest share in infertility treatment market. The existence of well-established firms with a robust product lineup and technological developments are to thank for this industry’s rapid rise. Along with the players’ increasing attention to base development through the use of various tactics, such as the introduction of new equipment, showcases throughout the world are likely to aid in the segment’s growth.

The assisted reproductive technology segment is anticipated to dominate the market during the forecast period

Based on the procedure, it is segmented into assisted reproductive technology, artificial insemination, fertility surgeries, and others. The assisted reproductive technology segment is anticipated to dominate the market during the forecast period. The segment’s expansion is projected to be aided by the increasing popularity of ART, its rising success rate, and its expanding acceptance on a global scale.

The female infertility treatment segment is anticipated to dominate the market during the forecast period

Based on the patient type, it is segmented into females and males. The female infertility treatment segment is anticipated to dominate the market during the forecast period. The market for treating female infertility is expanding as a result of declining female fertility rates, increased availability of different fertility treatment choices, and an increase in the number of reproductive clinics around the world.

The fertility centers segment accounted for the largest share of the infertility treatment market during the forecast period

Based on the end user, it is segmented into fertility centers, hospitals & surgical clinics, cryobanks, and research institutes. The fertility centers segment accounted for the largest share of the infertility treatment market during the forecast period. Some of the factors that are likely to contribute to the segment’s rapid growth include the rising government initiatives to establish fertility clinics, initiatives taken by major international healthcare providers to establish fertility centers, and the rising popularity of IVF and ICSI treatment globally.

The Asia Pacific region is anticipated to dominate the market during the forecast period

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is anticipated to dominate the market during the forecast period. Significant increase in medical travel, increasing public knowledge of the availability of infertility treatment options, expansion of fertility clinics in the region, rising healthcare costs, rising infertility rates in the region, and government measures to make infertility treatment more accessible in developing countries.

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Competitive Landscape

The key players studied in the report are The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Biomedx (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker Company, Inc. (US), Kitazato Corporation (Japan), Rocket Medical plc (UK), IHMedical A/S (Denmark), Hamilton Thorne Ltd. (US), ZEISS Group (Germany), and MedGyn Products, Inc. (US) among others.

Recent Developments

  • In March 2024, The Australian government has introduced a $42.3 million plan to publicly support fertility treatment for Queensland residents who have faced serious illness. About one in six Australian couples experience fertility challenges, but those who have undergone intensive treatments like chemotherapy are at higher risk of reproductive issues. The new plan allocates $32.1 million to offer subsidized reproductive assistance treatment for people with cancer or other complex illnesses in Queensland hospitals. Additionally, $10.2 million will be invested in a statewide “fertility preservation service,” enabling families to plan for their future family aspirations. This initiative aligns Queensland with Victoria and New South Wales, which already provide similar free assistance.
  • In September 2023, Pollin Fertility, a modern fertility clinic and technology company, announced a successful $20 million Series A fundraising round. The funding was led by Osmington Inc, a private investment firm owned by David Thomson. This investment marks one of the largest ever made in a Canadian fertility company, positioning Pollin as a significant player in the reproductive healthcare field. With a spacious 25,000 square foot clinic located in Toronto’s Yonge and Eglington district, Pollin is set to open its doors to patients on October 16. The clinic, under the leadership of renowned fertility physician and medical director, Dr. Kim Gardedian, aims to revolutionize fertility care in Canada. It will offer a cutting-edge lab designed to achieve the highest success rates in the industry.
  • In September 2023, Copenhagen-based Notify Therapeutics, a company pioneering a novel female fertility treatment, has announced securing €5M in a recent funding round. Driven by Professor Karin Lykke-Hartmann’s research on female infertility, Notify Therapeutics aims to tackle the lack of innovation in this area, despite increasing patient demands. Their main goal is to develop a hormone-free fertility treatment. The funding comes from Lundbeckfonden BioCapital and +ND Capital, both active investors in the Danish biotech sector. This investment underscores Lundbeckfonden BioCapital’s ongoing support for Danish science and the local biotech community.
  • In March 2023, The ART Fertility Clinics chain has teamed up with NDTV for a campaign aimed at raising awareness about infertility. This marks the first time in India that a chain of fertility clinics is taking proactive steps to address the silence surrounding infertility. The initiative aims to provide valuable information about reproductive treatments, the latest developments in the field, and what to consider when choosing a fertility clinic. The goal of the campaign is to encourage a wide audience to help end the stigma associated with infertility. The campaign includes various shows such as the Introduction Show, the Expert Show, and the Roundtable Show, all available in both Hindi and English. Additionally, it will be featured on NDTV’s popular show “We the People,” where experts from ART India will discuss infertility-related issues.
  • In July 2021, Hamilton Thorne Ltd. Received FDA approval for the commercialization of the GYNEMED GM501, a ready-to-use medium designed for in vitro washing and handling procedures of human oocytes and embryos in the US and Europe.
  • In February 2021, Cooper Surgical announced a partnership with Virtus Health to strengthen its fertility technology, increasing the accessibility of advanced treatment to infertile couples.
Infertility Treatment Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Infertility Treatment Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Infertility Treatment Market in terms of revenue ($Million) and Volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Infertility Treatment industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Infertility Treatment Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Infertility Treatment Market along with current trends and future estimations to depict imminent investment pockets. The overall Infertility Treatment industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Infertility Treatment Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.

Global Infertility Treatment Market Segmentation

By Product

  • Equipment
  • Media & Consumables
  • Accessories

By Procedure

  • Assisted Reproductive Technology
  • Artificial Insemination
  • Fertility Surgeries
  • Others

By Patient Type

  • Female
  • Male

By End User

  • Fertility Centers
  • Hospitals & Surgical Clinic
  • Cryobanks
  • Research Institutes

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players

Read More

Sports Medicine Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the global sports medicine market is expected to grow rapidly over the next 10 years to reach a value of more than USD 12.2 billion by 2033.

An area of medicine called sports medicine is concerned with enhancing patients’ athletic prowess. Products for sports medicine help with both the healing of sports injuries and the prevention of new ones.

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Sports Medicine Market: Key Trends and Drivers

Growing government involvement in promoting and encouraging sports activities, along with growing public awareness of personal health, is anticipated to drive the global market statistics. Increased participation in sports could result in an increase in the frequency of sports injuries.

The National Safety Council (NSC) reports that more than 400,000 injuries resulting from sports-related activities occurred in the United States in 2019. In addition, technological developments in the orthopaedic field, such as the 3D printing of implants and the introduction of bionic technology and sensor technology in prosthetic limbs, will provide the sports medicine industry with previously unheard-of growth opportunities over the forecast period.

Sports Medicine Market: Restraints and Challenges

The market’s expansion is significantly constrained by the high cost of implant materials. In nations like India, where only a small percentage of the population has access to health insurance, a pricey implant poses a serious threat to the market’s expansion. Since orthopedic surgeons undertake the majority of operations for sports injuries, a major barrier for the business is a lack of educated orthopedic doctors.

Sports Medicine Market Report Findings

https://www.globalinsightservices.com/reports/sports-medicine-market/

Body support & recovery products segment is anticipated to dominate the market during the forecast period

Based on the product, it is segmented into body reconstruction products, body support and recovery products, and accessories. Body support & recovery products segment is anticipated to dominate the market during the forecast period. Products such as braces, support, and physiotherapy equipment are required before and after procedures involving reconstruction. So, the demand for this device is boosting owing to the increasing number of sports injuries across the globe.

The knee injuries segment is anticipated to dominate the market during the forecast period

Based on the application, it is segmented into knee injuries, shoulder injuries, foot & ankle, elbow & wrist, back & spine, hip & groin, and other injuries. The knee injuries segment is anticipated to dominate the market during the forecast period. The large share of this segment can be attributed to the fact that a large number of knee injuries are recorded across major sports, across the globe.

The hospitals segment is anticipated to dominate the market during the forecast period

Based on the end user, it is segmented into hospitals, ambulatory surgery centers, physiotherapy centers & clinics. The hospitals segment is anticipated to dominate the market during the forecast period. The large share of this segment is primarily attributed to the factors such as complex diagnostic and therapeutic procedures being carried out in hospitals. However, the physiotherapy center & clinics segment is anticipated to witness the fastest growth during the forecast period. Owing to cost effectiveness and easy availability of sports medicine equipment.

The North America region is anticipated to dominate the market during the forecast period

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North America region is anticipated to dominate the market during the forecast period. Factors such as the increasing popularity of sports & physical activity, increasing awareness regarding the prevention & treatment of sports injuries coupled with growing investment in sports medicine are boosting the growth of the market.

Have a question for our analyst:

https://www.globalinsightservices.com/inquiry-before-buying/GIS10428/

Competitive Landscape

The report analyses the major players such as Stryker Corporation, Arthrex, Wright Medical Technology, Otto Bock Healthcare, Zimmer Biomet, Smith & Nephew, Breg, Inc, Muller Sports, Inc, RTI Surgical, Performance Health International Limited, KARL STORZ, Bauerfeind AG, CONMED Corporation, Johnson & Johnson, Ossur Corporate, Cramer Product, Inc, Anika Therapeutics, Inc, and DJO Global among others.

Recent Developments

  • In March 2024, UFC, the leading mixed martial arts organization, and Smith+Nephew, a global medical technology company, have announced a marketing partnership. This multi-year agreement will involve Smith+Nephew promoting its brand during major UFC events and other UFC-owned assets. As the UFC’s first Preferred Sports Medicine Technology Partner, Smith+Nephew will have its branding prominently displayed inside the Octagon during certain Fight Nights. This exposure will allow Smith+Nephew to reach over 700 million fans in 170 countries, as well as approximately 975 million households that watch UFC broadcasts on TV.
  • In November 2023, Smith+Nephew, a global medical technology company, has announced its plans to acquire CartiHeal, the developer of Agili-C, a groundbreaking sports medicine technology designed to regenerate cartilage in the knee. According to the agreement, Smith+Nephew will initially pay $180 million in cash upon completion of the deal, with the potential for an additional $150 million based on CartiHeal’s financial performance. Agili-C offers a unique one-step treatment for osteochondral (bone and cartilage) lesions in the knee, with a wider application than current treatments available. It can be used to treat a broad range of patients, including those with mild to moderate osteoarthritis in their knees, a condition that has not been effectively addressed previously. Additionally, it targets the approximately 700,000 patients who undergo cartilage repair procedures annually in the United States.
  • In November 2021, The San Antonio Spurs are committed to creating a cutting-edge center for sports medicine and science in their Texan city, investing over $500 million in the project. The complex, named The Rock at La Cantera, was revealed on November 18 by Spurs Sports & Entertainment (SS&E), the company behind the NBA’s Spurs and other sports teams. It will be developed in stages in the La Cantera area northwest of San Antonio.
  • June 2021, DJO, LLC, announced the acquisition of Mathys AG Bettlach. Products such as implants for artificial joint replacement and other sports medicine solutions were added to DJO’s product portfolio. The acquisition helped the company to develop and deliver the next generation of orthopedic products to sustain its market position coupled with gaining a competitive edge over others.
  • In March 2021, Arthrex introduced the first patient-focused educational website AnkleSprain.com, dedicated to ankle sprain treatment. This has helped the company to create awareness among people regarding ankle sprain, thereby positively impacting company’s clientele.
Sports Medicine Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Sports Medicine Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Sports Medicine Market in terms of revenue ($Million) and Volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Sports Medicine industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Sports Medicine Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Sports Medicine Market along with current trends and future estimations to depict imminent investment pockets. The overall Sports Medicine industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Sports Medicine Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.

Global Sports Medicine Market Segmental Overview

By Product

  • Body Reconstruction Products
  • Body Support and Recovery Products
  • Accessories

By Application

  • Knee Injuries
  • Shoulder Injuries
  • Foot & Ankle Injuries
  • Elbow & Wrist Injuries
  • Back & Spine Injuries
  • Hip & Groin Injuries
  • Others

By End User

  • Hospitals
  • Ambulatory Surgery Centers
  • Physiotherapy Centers & Clinics

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players

 

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Ultrasound Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the global ultrasound market is expected to grow rapidly over the next 10 years to reach a value of more than the US $13.6 billion by 2033.

Ultrasound is one of numerous medical imaging modalities available on the market. An ultrasound system visualizes the internal organs of the body by using high-frequency sound waves. It is a device that uses high-frequency sound waves to capture images of internal organs. A transducer and an ultrasound detector, or probe, comprise an ultrasound system. This diagnostic technique is minimally invasive and does not use ionizing radiation to diagnose or treat body ailments.

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Ultrasound Market: Key Trends and Drivers

The growth of the global is majorly driven by rise in prevalence of chronic disorders such as cancer tumors, gallstones, and fatty liver disease among others, along with high spending on healthcare industry. Further, rise in awareness toward early disease diagnosis and technological advancement in ultrasound imaging devices are the major drivers that are anticipated to boost the demand of the market during the forecast period.

Ultrasound Market: Restraints & Challenges

Growing end-user preference for refurbished equipment may impede the market growth. Due to the high prices of novel ultrasound technologies (such as focused ultrasound) and budgetary constraints faced by small-sized healthcare providers, the preference for refurbished ultrasound equipment has grown. For instance, a typical 3D/4D ultrasound system costs USD 20,000–75,000 in North America, while a refurbished 3D/4D ultrasound system costs USD 5,000–40,000. The growing preference for refurbished systems is, therefore, expected to pose a significant challenge to market growth.

Ultrasound Market Report Findings

https://www.globalinsightservices.com/reports/ultrasound-market-forecast-to-2031-global-insight-service/

The therapeutic ultrasound segment is likely to hold a dominant ultrasound market share and grow at a substantial CAGR during the forecast period.

Based on technology, it is segmented into diagnostic ultrasound and therapeutic ultrasound. Diagnostic ultrasound further sub-segmented into 2D, 3D & 4D, and Doppler ultrasound. Therapeutic ultrasound further sub-segmented into focused ultrasound and shockwave lithotripsy. The therapeutic ultrasound segment is likely to account for the significant market share during the forecast period. The therapeutic ultrasound segment is likely to account for the significant market share during the forecast period. Therapeutic ultrasound also uses sound waves above the audible hearing range but does not produce images. Therapeutic ultrasound is applied using an ultrasound probe or transducer and a bit of gel just like diagnostic ultrasound. The physical therapist (PT) might use therapeutic ultrasound to provide deep heating to soft tissue to increase blood circulation to those tissues. This could, theoretically, promote healing and decrease pain. Hence aforementioned factors will boost the segmental growth.

The point-of-care ultrasound systems segment is anticipated to hold a majority of the ultrasound market throughout the study period.

Based on portability, it is segmented into trolley/cart-based ultrasound systems, compact/handheld ultrasound systems, and point-of-care ultrasound systems. The point-of-care ultrasound systems segment is expected to account for the significant share of the ultrasound market in 2023. The multiple uses of point of care ultrasounds as therapeutic as well as diagnostic device is expected to boost the demand for these devices in developed as well as developing regions. Major diagnostics application of PoCUS includes condition such as undifferentiated shock, cardiac arrest resuscitation, abdominal/thoracic trauma, pulmonary embolism, pericardial effusion, dyspnea, and abdominal pain.

Furthermore, introduction of innovative technology and the increasing number of patient’s visits to ED with various health problems such as acute abdominal pain, urology problem, and chest pain is expected to drive the market growth over the forecast period. According to the Healthcare and Utilization Project report, 6.0 million ED visits were diagnosed with abdominal pain in 2014, a 32.0% increase from the number in 2006. PoCUS is an effective ED diagnostics tool in numerous pathologies that presents an abdominal pain.

The pain management segment is anticipated to hold a majority of the ultrasound market size throughout the study period.

Based on application, it is segmented into radiology/general imaging, cardiologic applications, urological applications, orthopedic & musculoskeletal, pain management, and other. The pain management segment is expected to command the largest share of the ultrasound market in 2023. This is due to rising demand for proper disease diagnosis and pain management therapy. Furthermore, increasing number of surgeries that increases the pain requires imaging technology to find out the illness and proper cure on time will augment the segmental as well as market growth.

The diagnostic imaging centers segment is anticipated to hold a majority of the ultrasound market size throughout the study period.

Based on end-use, it is segmented into hospitals, diagnostic imaging centers, ambulatory care centers, research and academia and others. Diagnostic imaging centers is anticipated to witness significant growth over the forecast period owing to the rising cases of breast cancer and increasing demand for diagnostic imaging techniques. According to the World Cancer Research Fund International, breast cancer is the most common cancer affecting women.

The Asia-Pacific region is estimated to exhibit the highest growth rate during the ultrasound market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific accounts for the significant market share and is forecasted to register the fastest CAGR from 2024 to 2033. Factors such as to the rising prevalence of chronic disorders, the growing trend of one-day surgeries, increasing number of cardiac arrest cases, and the long waiting periods for cardiac surgeries (which encourage the adoption of minimally invasive procedures) in Japan will fuel the demand for ultrasound imaging in hospital and diagnostics imaging centers.

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Competitive Landscape

The global ultrasound market report includes players such as GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Hitachi, Ltd. (Japan), Siemens Healthineers AG (Germany), Hologic, Inc. (US), FUJIFILM Holdings Corporation (Japan), Samsung Electronics Co., Ltd. (Korea), Mindray Medical International Limited (China), and Carestream Health (US), among others

In addition, major vendors are focused on developing smarter technologies for ultrasound probe disinfection. For instance, in April 2019, Germitec S.A. (France) received approval for the UV reprocessor from the FDA.

Recent Developments in the Ultrasound Market:

  • In March 2024, SecondWave, a company focusing on ultrasound technology, has received an additional $3 million funding from ARPA-H and DARPA, bringing their total non-dilutive funding from U.S. government agencies to $15.3 million. This funding will support the development of their wearable therapeutic ultrasound device called SecondWave MINI™, designed for treating chronic and acute inflammatory disorders without invasive procedures. The previous investment from DARPA helped create the MINI™, which has shown promising results in a recent clinical study for rheumatoid arthritis patients. With this new funding, SecondWave aims to further enhance the MINI™ technology for a pivotal clinical trial, making it suitable for at-home treatment of RA.
  • In February 2024, Researchers from USC Viterbi School of Engineering, Keck School of Medicine at USC, and MIT’s Department of Mechanical Engineering have created a special adhesive “wearable ultrasound” called BAUS-E. This device uses a bioadhesive hydrogel made by MIT to stick to the skin and monitor changes in liver stiffness for up to two days (48 hours). The ultrasound device, developed by USC and MIT, can detect liver stiffness within six hours of its onset. This quick detection could give doctors time to address worsening conditions in post-operative liver transplant patients.
  • In October 2023, Butterfly Network, Inc., a digital health company specializing in portable ultrasound technology, and Forest Neurotech, a research company focused on brain imaging and stimulation using ultrasound, have agreed to collaborate for five years. Under this agreement, Butterfly will receive $20 million for licensing, purchasing chips, services, and achieving certain milestones. They have already received $3.5 million upon signing. Butterfly will also earn additional revenue for each unit of the product sold once it hits the market. Forest Neurotech is a new research organization within Convergent Research, a group that supports scientific non-profits. Convergent Research recently received $50 million in philanthropic funding.
  • In October 2023, At the ISUOG 2023 event, Philips introduced new advancements in OB/GYN ultrasound technology aimed at improving early detection and diagnostic accuracy. These innovations include AI-powered point-of-care ultrasound solutions and smart workflows that aid in the earlier identification of abnormalities in obstetrics and gynecology.
  • In July 2022, GE Healthcare launched its most advanced ultrasound yet, the next-generation Voluson Expert 22. This latest addition to GE Healthcare’s award-winning Women’s Health portfolio utilizes graphic-based beam former technology, which produces higher quality images and offers greater flexibility in imaging functions.
  • In June 2022, Mindray launched its best-in-class Point of Care ultrasound system TEX20 Series at Euroanaesthesia 2022, reimagined the connected patient status assessment process in demanding situations requiring critical care and emergency medicine.
  • In March 2021, Koninklijke Philips N.V. partnered with DiA Imaging Analysis Ltd.; Philips will utilize/integrate DiA’s automated solutions with ultrasound systems to deliver operational efficiency and access to care for POC customers in and out of hospitals.

Ultrasound Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Ultrasound Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Ultrasound Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Ultrasound industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Ultrasound Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Ultrasound Market along with current trends and future estimations to depict imminent investment pockets. The overall Ultrasound industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Ultrasound Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.

Global Ultrasound Market Segments

By Technology

  • Diagnostic Ultrasound
    • 2D Ultrasound
    • 3D & 4D Ultrasound
    • Doppler Ultrasound
  • Therapeutic Ultrasound
    • High-Intensity Focused Ultrasound (HIFU)
    • Extracorporeal Shockwave Lithotripsy (ESWL)

By Portability

  • Trolley/Cart-based Ultrasound Systems
  • Compact/Handheld Ultrasound Systems
  • Point-of-care (PoC) Ultrasound Systems

By Application

  • Radiology/General Imaging
  • Cardiology
  • Urology
  • Orthopedic and Musculoskeletal
  • Pain Management
  • Others

By End-use

  • Hospitals
  • Diagnostic Imaging Centers
  • Ambulatory Care Centers
  • Research and Academia
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players Profiled in the Report

 

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Pain Management Devices Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the global pain management devices market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 9.8 billion by 2033.

Pain management devices are medical devices that are used in management of different types of pain such as neuropathic pain, cancer pain, nociceptive pain, musculoskeletal pain, and others. Spinal cord stimulators, transcutaneous electrical nerve stimulation devices, analgesic infusion pumps, and ablation devices are various types of pain management devices available in the market.

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Pain Management Devices Market: Key Trends and Drivers

Rising cases of musculoskeletal disorders, such as arthritis, osteoarthritis, orthopedic degenerative disorders, and rheumatoid arthritis, are increasing at a significant rate. This has augmented the prevalence of chronic pain in these individuals and the inability to carry out routine tasks. For instance, according to the CDC, over 24.5% of adults in the U.S. were suffering from arthritis in 2020, making this the primary reason for work disability. This has fueled the demand for pain management stimulators to manage chronic pain. Apart from this, in the year 2020, approximately 32.5 million people in the U.S. suffered from osteoarthritis.

The ineffectiveness of oral drugs is boosting patients to look for alternative treatment options, such as pain management devices. Several people are addicted to pain killers, however, these medicines are sometimes ineffective and cause various adverse effects. Moreover, the lack of preference for surgeries is one of the factors boosting the demand. According to the 2021 report by the CDC, there were around 1,57,500 surgical site infections reported every year in the U.S. The high hospitalization costs have increased the need for a reduced hospital stay and the need to shift to less expensive care settings, thus boosting demand.

Pain Management Devices Market: Restraints & Challenges

The use of pain medications as the first line of treatment for pain management may restrain the business expansion. Medication is often the first therapy that doctors use to manage chronic pain. Pain specialists prefer to prescribe medications over devices to patients suffering from pain majorly due to their easy availably, presence of substantial clinical evidence, and lower cost. Usually, physicians opt for pain management devices such as TENS or SCS only if medication and other alternative treatments do not work.

Pain Management Devices Market Report Findings

https://www.globalinsightservices.com/reports/pain-management-devices-market/

The RFA segment is likely to hold a dominant pain management devices market share and grow at a substantial CAGR during the forecast period.

Based on product, it is segmented into electrical stimulators, radiofrequency ablation (RFA), analgesic infusion pumps and neurostimulation. In 2023, the RFA segment dominated the market and accounted for the significant revenue share in 2023. The RFA segment is expected to register the fastest CAGR over the forecast period owing to its wide application scope in pain management, surgical oncology, gynecology, cardiology & cardiac rhythm management, and cosmetology. Radiofrequency ablation treatment is more beneficial in treating patients with multiple tumors than treating the patients via open surgery, thus fueling the segment growth. For instance, in June 2020, Boston Scientific launched a tool to monitor the effect of radiofrequency energy delivery during cardiac ablation procedures called DIRECTSENSE.

The cancer segment is anticipated to hold a majority of the pain management devices market size throughout the study period.

Based on application, it is segmented into Cancer, Neuropathic Pain, Facial & Migraine, Musculoskeletal Disorder, Trauma and Others. The cancer segment is expected to register the fastest CAGR over the forecast period. The rising cancer cases have led to an increase in the product demand to reduce the pain caused by nerve compression mainly because of the tumor compressing and other variables depending upon cancer’s progression. Moreover, the growing prevalence of genetic diseases, such as Acute Lymphoblastic Leukemia (ALL), is also expected to drive market growth during the forecast period. According to a report published by the National Cancer Institute, an estimated 5,690 new cases of ALL and an estimated 1,580 deaths were recorded in 2021.

The Asia-Pacific region is estimated to exhibit the highest growth rate during the surface disinfectant market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share in the market. This is owing to the favorable healthcare infrastructure, which facilitates easy access to advanced pain management devices. Moreover, increasing government initiatives, such as the Precision Medicine and Affordable Care Act, along with a well-planned reimbursement scenario in this region is contributing to the market growth. The regional market is also driven by the presence of well-established healthcare facilities, a growing aging population, and a high incidence of hypertension & stroke. With an increase in the elderly population, the market is expected to show a higher growth rate, as the aging population is at greater risk of chronic illness.

Asia-Pacific accounted to register the fastest CAGR from 2024 to 2033. This growth can be attributed to R&D investments to produce technologically advanced healthcare treatment options. Moreover, the presence of several trade agreements is increasing the chances for market growth in the region. For instance, the Asia Pacific Trade Agreement (APTA) between China, Bangladesh, India, Lao PDR, Republic of Korea, Mongolia, and Sri Lanka has promoted trade liberalization and widened import and export opportunities amongst participating nations.

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Competitive Landscape

The global pain management devices market report includes players such as Medtronic PLC (Ireland), Boston Scientific (US), Abbott (US), Becton, Dickinson and Company (US), Baxter International (US), B. Braun Melsungen AG (Germany), Stryker (US), Smiths Medical (US), and Moog Inc. (US), among others.

Recent Developments in the Pain Management Devices Market:

  • In December 2023, NVRO has recently acquired Vyrsa Technologies, a company specializing in medical technology for treating chronic sacroiliac joint (SI Joint) pain with minimally invasive methods. The acquisition deal, completed on November 30, 2023, involved NVRO paying $40 million initially, with the potential for an additional $35 million based on reaching specific development and sales goals. This acquisition is projected to contribute positively to NVRO’s revenue and AEBITDA (Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization) in 2024. It is also expected to bolster NVRO’s presence in the SI joint treatment sector.
  • In October 2022, A new product called FibroLux, created by Multi Radiance Medical, has been introduced to alleviate pain associated with fibromyalgia. Unlike drugs or lifestyle routines, FibroLux uses a pulsating beam of light for therapy. It’s the first FDA-approved “photoceutical” device for managing fibromyalgia pain. Fibromyalgia is a long-term condition causing widespread muscle and joint pain throughout the body. Individuals with fibromyalgia often have heightened sensitivity to pain, fatigue, and memory issues. It affects roughly 2% of the U.S. population.
  • In January 2022, TensCare to showcase latest pain relief devices at Arab Health
  • In January 2021, Abbott announced the upcoming launch of NeuroSphere™ myPath™, a digital health app designed to track and report on patient perceived pain relief and general well-being associated with spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy.

Pain Management Devices Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Pain Management Devices Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Pain Management Devices Market in terms of revenue ($Million) and Volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Pain Management Devices industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Pain Management Devices Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Pain Management Devices Market along with current trends and future estimations to depict imminent investment pockets. The overall Pain Management Devices industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Pain Management Devices Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.

Global Pain Management Devices Market Segments

By Product

  • Electrical Stimulators
  • Radiofrequency Ablation (RFA)
  • Analgesic Infusion Pumps
  • Neurostimulation

By Application

  • Cancer
  • Neuropathic Pain
  • Facial & Migraine
  • Musculoskeletal Disorder
  • Trauma
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players Profiled in the Report

 

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Wound Care Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the global wound care market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 30.1 billion by 2033.

Wound care is becoming a standard treatment option for chronic wounds. It helps to maintain moist environment, regulating temperature, allowing oxygen to flow, safeguarding the damaged location from external infection, and pain relief associated with dressing changes. The most widely used wound care product include hydrogels, hydrocolloids, alginates, film & foam dressings and others.

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Wound Care Market: Key Trends and Drivers

Over the past decade, there has been a noticeable rise in the prevalence of chronic wounds, as a result of the increasing elderly population across the globe along with the rising obesity and diabetes rates. Obesity and diabetes can result in an increased overall complexity and incidence of wounds including ulcerations (foot or leg ulcers), surgical wounds and infections, which require treatments and incur excessive medical costs.

Rising geriatric population worldwide is the major factor augmenting the wound care industry growth. For instance, as per data published by United Nations population, in 2019, the number of people globally who were 65 and above was 703. This number is further projected to increase to 1.5 billion by 2050. The report also estimated that the share of the population who are 65 and above have increased from 6 per cent in 1990 to 9 per cent in 2019 and is further expected to rise to 16 per cent by year 2050. As a result, one in every three people across the globe will be 65 or older. As the population ages, there will be greater opportunities for advanced wound care because older people’s wounds heal more slowly. Additionally, due to the high risk of infection, especially in the cases of severe wounds, older individuals find it difficult to take care of their own wounds.

Wound Care Market: Restraints & Challenges

The cost of medical/healthcare treatment has risen dramatically. The rising cost of chronic wound management and wound care products may hampered their adoption, particularly in emerging markets such as Asia and the Rest of the World. In these region, less expensive products are used. Furthermore, chronic wounds, such as leg ulcers and diabetic foot ulcers, can progress from mild to severe due to delayed treatment and diagnosis, resulting in foot amputation. In comparison to developed countries, the incidence of delayed diagnosis is significantly higher in emerging countries such as China, Brazil, and India. This is due to a lack of access to well-developed healthcare facilities, a lack of established guidelines and lack of awareness among individuals about difficult-to-heal wounds. For instance according to the data published by Journal of Foot and Ankle Surgery, the majority of patients in western indies experience a delayed in diagnosis of foot ulcers, particularly neuropathic ulcers, by more than one month up to one year. As a result, the aforementioned factor is limiting the adoption of wound care products, thereby limiting market growth.

Wound Care Market Report Findings

https://www.globalinsightservices.com/reports/wound-care-market

The wound dressing segment is likely to hold a dominant wound care market share and grow at a substantial CAGR during the forecast period.

Based on product, it is segmented into wound dressings, wound therapy devices and others. The wound dressing segment is likely to account for the majority of the market share during the forecast period. The key factor attributing the growth of the market is rising number of road accidents. For instance, according to NCRB data, in 2021, traffic incidents resulted in around a quarter million fatalities and a half a million injuries. Therefore, there is a significant demand for wound dressings. The market will also grow as the prevalence of surgical, traumatic, and chronic wounds rises. Furthermore, the market will benefit from technological advancements and the introduction of next-generation advanced wound dressing kits for wound dressing. For instance, Axio Biosolutions launched MaxioCel, a next generation wound care dressing made of chitosan. This next generation wound dressing helps in faster healing of patients suffering from chronic wounds, including diabetic foot ulcers, pressure ulcers, skin abrasions, cavity wounds, post-operative surgical wounds, donor sites etc. Such advancements in wound dressing will positively promote the market growth during the analysis time frame.

The diabetic wounds segment is anticipated to hold a majority of the Wound Care market size throughout the study period.

Based on application, it is segmented into diabetic wounds, skin burn wounds, pressure wounds, surgical wounds, venous legs ulcers and others. The diabetic wounds segment is likely to dominate the market during the forecast period. The largest share of the segment is attributed to the rising geriatric population and surging prevalence of diabetes among adults. For instance, according to the National Diabetes Statistics Report published in 2021, around 40.2 million people suffered from diabetes and in case of diabetes, incidence of chronic wounds, specifically foot ulcers, is increasing. Furthermore, a significant proportion of the diabetic population is subjected to non-traumatic amputations in some cases. Amputations are performed on approximately 60% of diabetic patients in the U.S. Such scenarios will drive segment growth.

The hospital segment is anticipated to hold a majority of the wound care market size throughout the study period.

Based on end-use, it is segmented into hospitals, homecare settings and others. The hospital segment is likely to dominate the wound care market during the forecast period. Growing healthcare spending to provide better patient care, as well as the large number of treatment procedures performed in hospitals, will drive market growth. For instance, according to The American Burn Association, approximately half a million patients receive burn treatment in hospitals and emergency rooms each year. Such scenario augmenting the segmental growth. Furthermore, increasing incidence of hospital-acquired pressure ulcers will spur the business expansion. For instances, as per the Center for Transforming Healthcare organization, in the U.S. over 2.5 million patients in acute-care facilities suffer from pressure ulcers and 60,000 individual die due to their complications. Such factors increased the demand for hospital segment as it necessitates and longer hospital stay proper treatment.

The Asia-Pacific region is estimated to exhibit the highest growth rate during the wound care market forecast period.

Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region accounted for the majority of the market share during the forecast period. The largest share of the region is due to the presence of well-developed healthcare facilities in the U.S. and the availability of several treatment options in the region. A growing desire for improved aesthetics and hygiene raises the demand for timely clinic visits and early detection of such infections. Similarly, the presence of major market players coupled with increasing awareness about advanced wound care product availability are expected to propel the North American wound care market growth during the forecast period.

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Competitive Landscape

The key players in the market are 3M Company (U.S.), Smith & Nephew PLC (UK), Cardinal Health (U.S.), Medtronic PLC (Ireland), B. Braun Melsungen AG (Germany), Baxter International, Inc. (U.S.), Convatec Group (UK), Paul Hartmann AG (Germany), Coloplast A/S (Denmark), Integra Life Sciences Holdings Corporation (U.S.), Bioventus (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Ethicon, Inc. (U.S.), Lohmann & Rauscher GmbH & Co. KG (Germany), Mölnlycke Health Care AB (U.S.) and Medline Industries, Inc. (U.S.) among others.

Recent Developments
  • In March 2024, MiMedx Group, Inc. has signed an agreement with TELA Bio, Inc. to gain exclusive rights to its manufacturing and supply agreement with Regenity Biosciences. This allows MiMedx to expand its range of Advanced Wound Care and Surgical solutions by adding xenograft products to its portfolio. As part of this agreement, MiMedx will immediately include a 510(k) cleared product made from bovine-derived collagen matrix in its portfolio. This product is used for managing wounds that produce a moderate to heavy amount of fluid and to control minor bleeding. The collagen in the product acts as a dressing that supports wound healing by promoting cell adhesion and migration into the wound site. It comes in particulate form, making it suitable for various types of wounds such as pressure ulcers, venous stasis ulcers, diabetic ulcers, acute wounds (e.g., trauma and surgical wounds), and partial-thickness burns.
  • In February 2024, Imbed Biosciences, Inc., based in Madison, Wisconsin, has received a Technology Breakthrough designation for PelashieldAM™ from Premier, Inc., through its Kiindo™ pediatric performance group and collaborative. Premier grants Breakthrough Technology designations to innovations that provide significant benefits in terms of patient safety, clinical outcomes, and operational efficiencies. Starting February 1, 2024, the new agreement allows Premier members to benefit from special pricing and terms negotiated by Premier for PelashieldAM™, at their discretion. PelashieldAM™ is primarily used for treating burn wounds and is available in various sizes to meet the needs of the burn wound market.
  • In November 2023, Supriya Lifescience, a prominent Indian manufacturer of specialty active pharmaceutical ingredients (API) and a Contract Development and Manufacturing Organization (CDMO), has entered into an agreement with Kalinga Institute of Technology to further develop GelHeal, a protein-based crosslinked Hydrogel. This gel-based cream is formulated to provide mechanical support and promote scar-free skin regeneration in deep wounds. It has the potential to effectively heal third-degree wounds, cuts, bites, ballistic wounds, as well as diabetic foot ulcers, pressure ulcers, venous leg ulcers, and surgical wounds.
  • In February 2021, Axio Biosolutions, received CE Certification for next-gen wound-care product MaxioCel.
Wound Care Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Wound Care Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Wound Care Market in terms of revenue ($Million) and Volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Wound Care industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Wound Care Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Wound Care Market along with current trends and future estimations to depict imminent investment pockets. The overall Wound Care industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Wound Care Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Global Wound Care Market Segmentation

By Product

  • Wound Dressings
    • Antimicrobial Dressing
    • Hydrogel Dressings
    • Foam Dressings
    • Film Dressings
    • Hydrocolloidal Dressings
  • Wound Therapy Devices
    • Negative Pressure Wound Therapy Systems
    • Pressure Relief Devices
    • Electrostimulation Devices
    • Oxygen and Hyperbaric Oxygen Equipment
  • Others

By Application

  • Diabetic Wounds
  • Skin Burn Wounds
  • Pressure Wounds
  • Surgical Wounds
  • Venous Legs Ulcers
  • Others

By End-use

  • Hospitals
  • Homecare Settings
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa
Key Players
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Menopausal Hot Flashes Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the Menopausal Hot Flashes Market is expected to grow rapidly over the next 10 years and it is expected to reach a CAGR 30.7% during the forecast period.

Menopausal hot flashes are a common symptom experienced by women during menopause. They are typically characterized by a sudden feeling of warmth, flushness, and sweating that can last for several minutes. Hot flashes can occur during the day or night and can be triggered by various factors, such as stress, alcohol, spicy foods, and hot weather. While hot flashes are not harmful, they can be disruptive and cause discomfort. There are many treatments available that can help reduce the frequency and severity of hot flashes, such as hormone therapy, antidepressants, and anti-anxiety medications.

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Menopausal Hot Flashes Market: Market Drivers and Trends

There are a few key trends in Menopausal Hot Flashes technology:

1. Wearable devices: There are a number of wearable devices that are designed to help women manage their hot flashes. These include things like cooling vests, cooling towels, and even cooling underwear.

2. Mobile apps: There are also a number of mobile apps that can help women track their hot flashes and manage them. These apps can help women keep track of when their hot flashes occur, how long they last, and what triggers them.

3. Natural remedies: There are a number of natural remedies that can help women manage their hot flashes. These include things like herbs, supplements, and even essential oils.

There are a variety of key drivers of the menopausal hot flashes market.

First, hot flashes are a common symptom of menopause, and as such, there is a large potential market for treatments.

Additionally, hot flashes can be a very bothersome and disruptive symptom, and can negatively impact the quality of life. As such, there is a large unmet need for effective treatments.

Additionally, the development of new, more effective treatments is a key driver of the market. Finally, the aging of the population is a key driver, as the incidence of menopause increases with age.

Market Restraints and Challenges

There are a few key restraints and challenges in the Menopausal Hot Flashes market.

Firstly, the condition is often underdiagnosed and therefore many women do not seek treatment.

Secondly, there is a lack of awareness of the condition and its potential treatments.

Finally, hot flashes can be a symptom of other underlying conditions, which can make diagnosis and treatment difficult.

Menopausal Hot Flashes Market Report Findings

https://www.globalinsightservices.com/reports/menopausal-hot-flashes-market/

The hormonal segment is anticipated to dominate the market during the forecast period

By treatment type, the market is classified into hormonal and non-hormonal. The hormonal segment is expected to be the dominating the segmental growth in the coming years. Additionally, the non-hormonal segment is anticipated to be the fastest growing segment in the coming years.

The hospital pharmacies segment is anticipated to dominate the market during the forecast period

The distribution channel segment is segmented into hospital pharmacies, retail pharmacies, and others. The hospital pharmacies has dominated the market in 2023 and further expected to be the fastest growing segment during the forecast period.

The North America region is likely to hold the major share of the market in 2023

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America holds a major market share for Menopausal Hot Flashes and is expected to continue its stronghold for a few more years. Because more women are experiencing menopause, there’s greater attention on it, leading to more spending on healthcare. Also, there are many older women in the area. As the population of aging women grows, there’s more demand for drugs and treatments for menopause because they’re dealing with symptoms that affect their quality of life. Thus, these aforementioned factors are likely to dominate the North American market in menopausal hot flashes industry during the forecast period.

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Competitive Landscape

The menopausal hot flashes market includes players such as AbbVie Inc., Bayer AG, Novartis AG, Pfizer Inc., Novo Nordisk Corporation, Hisamitsu Pharmaceutical Co. Inc., Merck & Co. Inc., Teva Pharmaceutical Industries Ltd, Agile Therapeutics, Amgen Inc., and others.

Menopausal Hot Flashes Market: Recent Developments

  • In January 2024, Omena, a startup in Paris that focuses on women’s health technology, has received €800,000 in funding. This is their second major fundraising effort, following a €400,000 investment in 2021. The company offers support and services to women going through menopause through its app. The funding came from various investors, including business angels and family offices. Notable investors from previous rounds, like Alexandre Lebrun, Marie Outtier, and Simon Dawlat, contributed again. New investors in this round included Fair Equity, a French family office, and Mozza Angels, an investor club.
  • In September 2023, GV, previously known as Google Ventures, led a $25 million series A funding round in Midi Health, a virtual clinic that provides insurance-covered care for women going through perimenopause and menopause. Midi Health, which started operating around a year ago, concentrates solely on women going through hormonal changes in midlife. The clinic offers various evidence-based treatments, including lifestyle coaching, supplements, and prescription medications. These services are covered by major insurance providers.
  • In May 2023, Embr Labs has secured $35 million in debt financing to further develop its wristband designed to regulate temperature for women experiencing menopause. The funding was led by Ghost Tree Partners in collaboration with Aon plx, utilizing IP-based debt financing. These funds will help Embr Labs expand its consumer base through retail and geographic expansion. Earlier this year, Embr Labs announced partnerships with major online retailers including Amazon, Costco, Target, Walmart, and CVS.
  • In July 2022, Lisa Health, a digital health company specializing in solutions for menopause and healthy aging, has introduced Midday, an app designed to support women during menopause using AI, sensor tech, and digital therapies. Midday offers personalized health insights and interventions to address both physical and emotional aspects of menopause, promoting overall well-being. In partnership with Mayo Clinic, the app combines Lisa Health’s technology with expert medical advice, offering a comprehensive approach to managing menopausal symptoms. Lisa Health recently closed its oversubscribed seed round, raising $2.5 million. The funding was led by Radical Ventures, with participation from SRI International, Broadway Angels, and Margo Georgiadis, a seasoned business leader. Mayo Clinic is also an investor in Lisa Health.
Menopausal Hot Flashes Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Menopausal Hot Flashes Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Menopausal Hot Flashes Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Menopausal Hot Flashes industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Menopausal Hot Flashes Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Menopausal Hot Flashes Market along with current trends and future estimations to depict imminent investment pockets. The overall Menopausal Hot Flashes industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Menopausal Hot Flashes Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segmentation

By Treatment Type

  • Hormonal
  • Non-hormonal

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Others

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Japan
    • South Korea
    • Rest of APAC
  • Rest of the World
    • Latin America
    • Middle East
    • Africa
Key Players
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X-Ray Detectors Market
March, 2024

New York, March 2023: According to a new research study by Global Insight Services (GIS), the global X-ray detectors market is expected to grow rapidly over the next 10 years to reach a value of more than the US $6.9 billion by 2033.

An X-ray detector is an electronic device that detects radiation of X-ray or gamma ray for imaging purposes. X-ray imaging is an important technique useful to detect various chronic disorders including tumor. X-ray imaging is utilized in a variety of applications, including medical, veterinary, industrial, dentistry and security among others all employ X-ray imaging technologies. Also useful in mammography, radiography, radiographic chest scans, and many other sophisticated imaging procedures in the medical sector.

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X-Ray Detectors Market: Key Trends and Drivers

Growing demand for advanced diagnostics treatment for cancer disorders in developed countries is anticipated to supplement the market growth. Early disease diagnosis facilitates early diagnosis and treatment, which inhibits the spread of the disease. For instance, early detection of diseases such as Parkinson’s disease, breast cancer, coronary heart disease, and Alzheimer’s disease can greatly aid in medication and treatment efforts. As a result, rising demand for early-stage diagnosis of any disease condition using imaging technologies including X-ray detectors and CT scanners is anticipated to fuel the market growth. Additionally, rising investments in advancing healthcare facilities & digital imaging technologies, increasing demand for early diagnosis and wide clinical applications of X-ray detectors. Furthermore, due to increased research and initiatives to develop advanced products, the clinical applications of X-ray detectors are expanding.

Further, the rising the geriatric population and cancer patients worldwide have pressurized the healthcare sector to install better imaging x-ray technologies with capabilities to carry out quick and highly accurate imaging. Also, there has been an increase in the investments to advance healthcare facilities and digital imaging technologies amongst the developed countries such as the U.S., Germany, Austria, and the UK among others. In addition, the need for advanced equipment is expected to augment the X-ray detectors market growth.

X-ray Detectors Market: Restraints & Challenges

A dearth of skilled and qualified labor is one of the factors expected to hamper the global x-ray detectors market development. In addition, the other major factor impeding the global x-ray detectors market growth is the high initial and maintenance cost of these equipment. The cost is high mainly due to the complexity of the system. In addition, health risks of full-body scanning is anticipated to hamper the market growth. Similarly, lack of awareness regarding animal healthcare in developing economies countries along with rising acceptance of refurbished X-ray units may restrain the market growth over the analysis timeframe.

X-ray Detectors Market Report Findings

https://www.globalinsightservices.com/reports/x-ray-detectors-market/

The flat-panel detectors (FPDs) segment is likely to hold a dominant X-ray detectors market share and grow at a substantial CAGR during the forecast period.

Based on type, it is segmented into the flat-panel detectors (FPDs), computed radiography detectors, line-scan detectors, and charge-coupled device detectors. The flat-panel detectors segment is likely to account for the significant market share during the forecast period. The key factors attributing the growth of the market is higher adoption rate of these detectors coupled with the cost effectives FPDS. Moreover, FPDS provide numerous benefits, such as the ability to retrofit into existing X-ray tables, excellent image quality, lack of geometric distortion and chemical processing, uniform response across the field of view, and sensitivity to temperature variations with better patient access. Hence, the aforementioned factors will fuel segmental growth over the forecast period.

The medical segment is anticipated to hold a majority of the X-ray detectors market size throughout the study period.

Based on application, it is segmented into medical, dental, security, veterinary, and industrial. The medical segment is likely to dominate the market during the forecast period. The largest share of the segment is attributed to the increasing geriatric population and the rising incidence of colorectal cancer in younger adults, which leads to growing awareness of the target population of medical imaging. Additionally, availability of advanced medical imaging technology such as computed tomography (CT), X-ray radiography, angiography, and mammography is expected to lead to the growth of the market.

The hospital segment is anticipated to hold a majority of the X-ray detectors market size throughout the study period.

Based on end-use, it is segmented into hospitals, ambulatory surgery centers, clinics, imaging centers and others. The hospital segment is likely to dominate the X-ray detectors market during the forecast period. The growing adoption of x-ray detectors in hospitals coupled with increasing government and private funding in the healthcare sector, increasing number of hospitals as well as the greater availability of skilled healthcare professionals and technologically advanced facilities are boosting the growth of the market.

The North American region is estimated to exhibit the highest growth rate during the X-ray detectors market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is accounted for the majority of market share during the forecast period. The largest share of the region is primarily attributed to the favorable reimbursement policies for imaging procedures in the US, increased prevalence of cancer, high investment by hospitals to purchase advanced X-ray detectors, strong focus on research activities to improve imaging techniques as well as the presence of major market players.

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Competitive Landscape

The global X-ray detectors market report includes players such as Varex Imaging Corporation (US), Thales Group (France), Canon (Japan), Agfa-Gevaert Group (Belgium), FUJIFILM Corporation (Japan), Hamamatsu Photonics K.K. (Japan), Analogic Corporation (US), Carestream Health (US), Detection Technology Plc. (Finland), Konica Minolta, Inc. (Japan), MOXTEK, Inc. (US), Teledyne Digital Imaging Inc. (Canada), JPI Healthcare. Co. Ltd. (South Korea), iRay Technology (China), and Vieworks Co., Ltd. (South Korea) among others.

In addition, major vendors are focused on developing smarter technologies for X-ray detectors. For instance, in January 2020, Konica Minlota launched Aero DR NS flat panel detector. The product NS combined with the all-in-one solution ImagePilot console. This economically attractive detector is an excellent alternative for analog or CR users looking to speed up their diagnostics.

Recent Developments in the X-ray Detectors Market:

  • In February 2024, A notable advancement in this field is the significant collaboration between Nanox and NVIDIA, both focusing on chip technology, which is poised to substantially impact the digital health industry. The partnership plans to use Nanox’s X-ray technology along with NVIDIA’s AI capabilities. Their aim is to better detect diseases early and possibly lower healthcare expenses. This could lead to a big change in how patients are cared for and how medical images are used. This collaboration shows a major step forward in using AI in digital healthcare.
  • In December 2023, UK Export Finance (UKEF) is supporting a £300,000 funding deal for Quantum Detectors, a small advanced technology company in Oxfordshire that supplies laboratories worldwide. Situated at the Harwell Science and Innovation Campus, Quantum Detectors produces systems for detecting electrons and x-rays. These systems gather specialized information and are utilized by major synchrotron light sources – scientific establishments that illuminate scientific inquiries using powerful x-ray beams.
  • In December 2022, Carestream continues its tradition of providing high-quality medical imaging technology with the introduction of new digital X-ray detectors. These detectors are designed to enhance clinical outcomes. Additionally, Carestream has improved its existing product lineup, demonstrating the company’s strong grasp of the radiology field. During the annual Radiological Society of North America (RSNA) meeting in Chicago, Carestream showcased its growing range of medical imaging systems. These systems offer measurable advantages to healthcare facilities and the individuals they serve.
  • In March 2022, Konica Minolta launched AeroDR 3 1417HL a lightweight cassette-type digital x-ray system for High-resolution images at low dose rate.
  • In February 2022, Carestream introduced advanced digital radiology solution such as DRX Compass. This is accurate, convenient & configurable digital radiology solution designed to provide radiologists with a whole new level of efficiency.
  • In May, 2021, Fujifilm partners with Qure.ai to make intelligent X-ray solutions.
  • In March 2021, Fujifilm India Private Limited, launched portable X-ray device such as PORTABLE X-RAY UNIT FDR Xair XD2000 (hereafter, “FDR Xair”). This device can easily be used in environments where space and resources are limited, providing quick and easy access to diagnostic imaging.

X-ray Detectors Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current X-Ray Detectors Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the X-Ray Detectors Market in terms of revenue ($Million) and volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the X-Ray Detectors industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The X-Ray Detectors Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the X-Ray Detectors Market along with current trends and future estimations to depict imminent investment pockets. The overall X-Ray Detectors industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the X-Ray Detectors Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Global X-ray Detectors Market Segmentation

By Type

  • Flat Panel Detectors
    • Flat Panel Detectors, by Type
      • Cesium Iodide (CsI) Flat Panel Detectors
      • Gadolinium Oxysulfide (Gd2O2s or GoS) Flat Panel Detectors
      • Direct Flat Panel Detectors
    • Flat Panel Detectors Market, by Field of View
      • Large-area Flat Panel Detectors
      • Medium-area Flat Panel Detectors
      • Small-area Flat Panel Detectors
    • Flat Panel Detectors Market, by Portability
      • Portable Detectors
      • Fixed Detectors
    • Flat Panel Detectors Market, by System
      • New Digital X-ray Systems
      • Retrofit X-ray Systems
  • Computed Radiography (CR) Detectors
  • Charge-coupled Device (CCD) Detectors
  • Line Scan Detectors

By Application

  • Medical
  • Dental
  • Security
  • Veterinary
  • Industrial

By End-use

  • Hospitals & Clinics
  • Ambulatory Surgery Centers
  • Imaging Centers
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players Profiled in the Report

 

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Wearable Technology Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the Wearable Technology Market is expected to grow rapidly over the next 10 years and it is expected to reach a CAGR 28.4% during the forecast period.

Incorporating MEMS sensors such as accelerometer, gyroscope, and magnetometer into specialized wearable devices has led to rapid growth of wearable device market. These sensors have aided the fitness tracking wearable in monitoring body activities. Factors such as rising demand for smart devices in the healthcare sector and a surge in demand for IoT devices will propel the market forward.

The increased frequency of chronic diseases and obesity has led to increased adoption of wearable gadgets such as activity trackers and body monitors that provide real-time data on a user’s overall health. These wearable gadgets also provide data on daily activities and physiological data like calories expended, heart rate, oxygen level, blood pressure, cholesterol level, and sleep.

According to a HIMSS survey, more than half of healthcare providers regarded wearable technology to be beneficial in monitoring their patients. They use commercial and personal-grade wearables to track prescriptions, check health conditions and vitals, follow post-operative patients’ recovery, and track sleep.

However, as smart wearables’ technological capabilities expand, complexity and data security issues are likely to become roadblocks to industry expansion. Nonetheless, in the coming years, ongoing research in the smart wearable field is expected to overcome these issues.

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Wearable Technology Market: Market Drivers and Trends
  • Over the projected period, the increased adoption of smartwatches and fitness trackers in the healthcare industry is expected to promote category growth.
  • Other growth factors for the market include product advancements such as the integration of linked devices with the Internet of Things (IoT), artificial intelligence (AI), and virtual reality (VR). Next-generation screens and tiny sensors are also being developed by manufacturers for use in head-mounted displays for high-end gaming and virtual and mixed reality experiences.
  • Sensors allow athletes and their coaches to collect data on anything from heart rate to acceleration to sleep, which has revolutionized the way certain athletes train. Athletes can use this information to create more effective training regimens, identify shortcomings, and track progress toward fitness goals.
  • Some of the key drivers in developing regions are the rise in disposable income and the fast acceptance and popularity of upgraded technologies.
Market Restraints and Challenges
  • The lack of a dependable and efficient battery system that can be worn without compromising the device’s compactness and convenience of use is a major limiting issue in the wearable technology market’s growth. As the demand for wearable devices grows, it is critical to not only meet the power efficiency requirement in a cost-effective manner, but also to monitor power usage.
  • The consumer electronics industry is a fast-moving market. Market players risk significant price erosion as old technology items lose their value when new technology emerges.
  • Privacy and Data Security related to data collected using wearable devices remain a key challenge for users as well as regulators and manufacturers.

Wearable Technology Market Report Findings

https://www.globalinsightservices.com/reports/wearable-technology-market/

The wearable products and devices (non-textiles) segment is anticipated to dominate the market during the forecast period

By type, the market can be divided into wearable textiles, and wearable products and devices (non-textiles). The wearable products and devices (non-textiles) segment has dominated the wearable technology market in 2023 and it is expected to be the fastest-growing segment in the coming years.

The wristwear segment is anticipated to dominate the market during the forecast period

By product, the market can be divided into wrist-wear, eye-wear & head-wear, foot-wear, neck-wear, and body-wear. The wristwear segment has the biggest market share in 2023. Additionally, the headwear segment is anticipated to be the fastest growing segment during the forecast period and for the market. This is primarily attributed to an increased number of wireless gadgets such as smart watches, headsets, Bluetooth, and other devices. Thus, these factors are likely to have a significant impact on the wearable technology market in the coming years.

The healthcare segment is anticipated to dominate the market during the forecast period

By application, the market can be divided into consumer electronics, healthcare, enterprise, and industrial applications. The healthcare segment has the highest market share in 2023. Furthermore, the consumer electronics segment is expected to be the fastest during the forecast period.

The North America region is likely to hold the major share of the market in 2023

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. In 2023, North America was the leading contributor to global industry revenue, followed by Europe and Asia Pacific. The region’s strong emphasis on technology adoption and rapid availability of new products has driven its growth. There’s a significant demand for devices promoting health, preventive care, and disease management. North America stands out for its innovation and research capabilities, resulting in cutting-edge wearable technology with advanced features. The emphasis on health and fitness in the region has spurred interest in wearable devices that monitor various health metrics like heart rate, sleep patterns, and physical activity. Consumers in North America are eager to embrace technologies supporting healthier lifestyles.

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Competitive Landscape

The wearable technology market includes players such as Garmin Ltd.(US), Xiaomi(CN), Huawei Technologies Co.Ltd.(CN), Motorola Solutions Inc(US), Sony Corporation(JP), Apple Inc.(US), BOAT(IN), LG Electronics Inc.(KR), Fitbit Inc.(US), SAMSUNG(KR)

Wearable Technology Market: Recent Developments

  • In January 2024, Epicore Biosystems, a company based in the US, secured investments from Pegasus Tech Ventures and the Japanese Denka Company to expand the distribution of its wearable devices in Japan and other Asian markets. This investment is part of a series aimed at helping Epicore grow its products. Epicore intends to focus on Asian markets due to the region’s exposure to high temperatures and heat waves in recent years. Dehydration is a common issue during such conditions, and monitoring hydration levels can help prevent it.
  • In November 2023, DuPont™ Liveo™ Healthcare Solutions partnered with STMicroelectronics, a leading semiconductor technology company, to create a new smart wearable device for remote biosignal monitoring. This collaboration involves working with various players in the healthcare industry, including technology developers, material suppliers, device manufacturers, and original equipment manufacturers (OEMs). The goal is to develop patient-centered solutions that improve patient outcomes.
  • In August 2023,  Endefo, an electronics brand based in Dubai and part of the Ashtel Group of Companies, revealed its intention to invest Rs 200 crore in the Indian wearable technology market by the end of 2024. The company aims to capture a 10% market share in the Indian wearable technology segment within three years. Endefo plans to introduce six premium product categories in India, including sound bars, portable speakers, TWS (true wireless stereo) earphones, boomboxes, smartwatches, and party speakers. These products will be available for purchase through retail stores, Amazon, and the company’s e-commerce platform.
  • In April 2023, Researchers at UNSW Sydney created a new electronic device that mimics human skin by combining artificial synapses with advanced sensors. This device, developed by scientists from the School of Material Sciences & Engineering, can detect mechanical stimuli like gestures and handwriting with very little power usage. In the human body, sensory organs like the skin detect stimuli, which are then sent to the brain through neurons and synapses for processing and response. This device replicates that process using electronic components.
Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Wearable Technology Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Wearable Technology Market in terms of revenue ($Million) and volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Wearable Technology industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Wearable Technology Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Wearable Technology Market along with current trends and future estimations to depict imminent investment pockets. The overall Wearable Technology industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Wearable Technology Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Segmentation

By Type

  • Wearable Textiles
  • Wearable Products and Devices (Non-Textiles)

By Product

  • Wristwear
  • Headwear
  • Footwear
  • Fashion & Jewelry
  • Bodywear

By Application

  • Consumer Electronics
  • Healthcare
  • Enterprise and Industrial Application

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa
Key Players:
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Blood and Blood Components Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the Blood and Blood Components Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 17.5 billion by 2033.

Blood and blood components are used in clinical settings for blood transfusion to save the lives of patients suffering from bleeding disorders, traumatic surgery, chronic diseases, or rare blood diseases. Patients who have been severely injured in car accidents or other traumatic incidents such as violence and assault usually require traumatic surgery. Road accidents cause significant blood loss and hemorrhage, necessitating an immediate blood transfusion to maintain blood volume and save the patient’s life. Furthermore, blood transfusion is required in the treatment of chronic diseases such as blood cancer because cancer treatment involving surgery causes significant blood loss and blood cell loss. Patients undergoing stem cell transplantation for the treatment of blood cancers such as leukemia, myeloma, lymphoma, and others require high doses of chemotherapy, which causes blood cell depletion.

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Global Blood and Blood Components Market: Market Drivers and Trends

The increase in cases of chronic diseases among people all over the world is the primary driver of the industry’s growth. For example, according to the National Institute of Health, U.S. statistics 2012, approximately half a million people have suffered from leukemia, a type of blood cancer, in recent years. The NIH also predicts that approximately 61,090 new cases of leukemia will be diagnosed in the upcoming years. Therefore, the rise in the number of chronic illnesses, such as cancer and liver disease, as well as the large patient pool, is expected to fuel the growth of the blood and blood components market.

Furthermore, the industry’s growth will be driven by rising of bleeding disorders and surgeries. The significant increase in the geriatric population, which is susceptible to a variety of chronic diseases such as liver cirrhosis, will drive a high demand for blood derivatives during the period. Rising public awareness of the importance of blood donations, as well as the increasing need for blood and blood derivatives in traumatic patients, are also factors influencing demand for whole blood, which will drive market growth. These factors are expected to drive the growth of the global Blood and Blood Components Market.

Global Blood and Blood Components Market: Market Restraints and Challenges

Over the period, the risk of adverse reactions and transmission of blood transfusion-associated infections such as HIV, syphilis, Zika virus, Hepatitis B, and others is expected to hinder growth in the global blood and blood components market. According to a March 2020 article published in the journal Nature Public Health Emergency Collection, blood transfusion is frequently associated with immunological reactions such as acute hemolytic anemia, delayed hemolytic reaction, febrile nonhemolytic reactions, and others, with febrile nonhemolytic reaction being the most common type of adverse reaction found in 7% of blood transfusion patients. This is a potential restraint hindering the global Blood and Blood Components Market growth.

Global Blood and Blood Components Market Report Findings

https://www.globalinsightservices.com/reports/blood-and-blood-components-market/

The blood components segment is likely to hold the major share of the market in 2023

Based on product, it is bifurcated into whole blood, and blood components. The blood components segment is expected to be the largest segment in the Blood and Blood Components Market in 2023. In 2023, the blood components segment accounted for the highest market revenue. Blood components are required for a variety of surgeries and blood loss situations. Certain conditions, such as leukemia or long-term cancer treatment, interfere with the production of blood components in bone marrow. As a result, these components must be obtained from outside sources. The growing number of people who are concerned about their physical appearance and enhancement will drive the platelet and plasma market over the upcoming years.

The bleeding disorders segment is likely to hold the major share of the market in 2023

Based on application, the market is bifurcated into anemia, trauma & surgery, cancer treatment and bleeding disorders. The bleeding disorders segment dominated the market in 2023. In the upcoming years, the bleeding disorders market is expected to dominate the market. Patients with lymphoma, leukemia, myelodysplastic syndrome, idiopathic thrombocytopenic purpura, von Willebrand disease, and other diseases that cannot produce these essential components require external supply. The majority of treatments also include surgeries that result in blood loss and necessitate external blood supply. Anemia, in its various forms, such as iron-deficiency anemia, pernicious anemia, aplastic anemia, and others, affects the bone marrow, depleting the supply of red blood cells. In such cases, red blood cells must be administered to the patients. As a result, the rising prevalence of bleeding disorders will drive up demand for blood and blood components.

The ambulatory surgical centers segment is likely to hold the major share of the market in 2023

Based on end-user, the Blood and Blood Components Market is segmented into hospitals, ambulatory surgical centers, and others. The ambulatory surgical centers segment dominated the market. In 2023, the ambulatory surgical centers segment accounted for approximately 23% of the business. The cost-effectiveness provided by ambulatory surgical centers, as well as surgeons’ treatment preferences, are driving the end-use segment expansion. Ambulatory centers are where most non-hospitalized surgeries are performed in developed countries. Ambulatory care centers have increased significantly in developing countries, creating new growth opportunities for market participants. An increase in the number of surgeries and patients suffering from chronic illnesses will boost market statistics.

The European region is accounted for the majority of market share in 2023

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The European region is dominating in the Blood and Blood Components Market. In 2023, the European blood and blood component market was worth more than quadruple USD billion. The region’s supportive regulatory system stimulates market growth. It also encourages people to donate blood by organizing blood donation camps and raising awareness about blood donation. The European Blood Alliance also works to implement new innovative changes to its current management model in order to improve blood management in the region. As a result, an increase in the number of awareness and initiative programs will boost regional blood and blood component market growth.

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Competitive Landscape

Global Blood and Blood Components Market: Recent Developments

  • In February 2024, Microsize announced a long-term deal with Cerus Corporation. Microsize will provide particle sizing services for the functional powders used in the INTERCEPT® Blood System for Plasma, a technology that helps protect the blood supply used by blood centers worldwide. This agreement also involves a joint investment to expand manufacturing capacity in 2024 and improve processing efficiency. These investments will enable Cerus to meet the growing demand for INTERCEPT-treated blood components, such as plasma and cryoprecipitate.
  • In October 2023, SK plasma Co. from South Korea has signed a deal with the Indonesia Investment Authority (INA) to build a blood products plant in Indonesia. SK plasma announced that it had reached an agreement with INA, Indonesia’s sovereign wealth fund, regarding the construction project for the blood plasma facility and the terms of the deal. As part of its efforts to boost infrastructure and support economic growth in Indonesia, INA plans to invest up to $50 million in the blood plasma project, becoming the second-largest shareholder in the venture. SK plasma has obtained approval from the Indonesian Ministry of Health in March to construct a plasma fractionation facility in Indonesia, with plans to finish construction by 2025.
  • In March 2023, Labcorp, a company that provides laboratory services, has introduced a new blood test that can detect phosphorylated tau 217 (pTau217), a marker for Alzheimer’s disease. This test is now available for doctors to request and can be used in clinical trials and research studies. The pTau217 test is designed to help diagnose Alzheimer’s disease and monitor patients who are receiving new treatments for the condition. By adding this test to its offerings, Labcorp expands its range of Alzheimer’s tests, which already includes the beta-amyloid 42/40 ratio test, the neurofilament light chain (NfL) test, and the ATN Profile, which combines three blood biomarkers.
  • In January 2022, America’s Blood Centers, the Association for the Advancement of Blood & Biotherapies, and the American Red Cross issued a joint statement addressing the country’s low blood supply. These organizations urged people to donate blood and blood components to help meet the country’s rendering needs.
  • In January 2022, The French blood service, Etablissement Français du Sang, launched the MissingType campaign to encourage people to come forward and donate blood in order to meet the country’s demand for blood and blood components. This strategic campaign launch will result in increased public awareness of blood donation.

Global Blood and Blood Components Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Blood and Blood Components Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Blood and Blood Components Market in terms of revenue ($Million) and volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Blood and Blood Components industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Blood and Blood Components Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Blood and Blood Components Market along with current trends and future estimations to depict imminent investment pockets. The overall Blood and Blood Components industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Blood and Blood Components Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Global Blood and Blood Components Market Segmentation

By Product

  • Whole Blood
  • Blood Components

By End-User

  • Hospitals
  • Ambulatory surgical centers
  • Others

By Application

  • Anemia
  • Trauma & Surgery
  • Cancer Treatment
  • Bleeding Disorders

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa
Key Players
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Blockchain Technology in Healthcare Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the global Blockchain Technology in Healthcare Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 22.2 Billion by 2033.

Blockchain technology is a distributed database that allows for secure, transparent and tamper-proof sharing of data. In healthcare, blockchain can be used to create a secure and interoperable system for storing and sharing medical data. By creating a decentralized network of health data, blockchain can help to reduce errors, improve data quality and increase trust between patients and providers. Additionally, blockchain can help to enable new applications such as clinical trial management, drug supply chain tracking and patient-centered data sharing.

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Blockchain Technology in Healthcare Market: Key Trends and Drivers

Growing need to store & secure medical data coupled with the rising incidence of medical data breaches to spur the blockchain technology in healthcare market expansion

There has been a surge in the requirement to store and secure medical data that can have significant advantages for healthcare facilities, medical staff, and patients. Blockchain technology is cross-checked, encrypted, and decentralized that enables medical data to remain strongly backed, thereby providing stimulus to the market progression. The government of several countries is emphasizing on the digitalization of the healthcare system and related industry sectors that potentially improve health outcomes, enhance patient engagement, enable better predictions, etc. Owing to increased attack volume for various healthcare service providers, the U.S. and UK government has made a significant investment to ensure that all health records are digitized. Further, medical data has been subjected to risks of privacy breaches attributed to unauthorised access to electronic health records (EHR) or loss of physical patient files.

Blockchain Technology in Healthcare Market: Restraints & Challenges

Lack of skilled professionals with the required technical expertise to handle blockchain technology in healthcare may have a negative impact on the market growth. Blockchain technology in healthcare is complex in nature and henceforth, requires skilled professionals to operate and manage the task. Lack of a skilled workforce, particularly in the emerging economies may hamper the adoption of blockchain technology in healthcare. Apart from the revenue loss, the shortage of skilled professionals in handling this technology also produces a variety of other negative consequences for firms such as the inability to deliver precise market needs, affecting customer satisfaction, etc.

Blockchain Technology in Healthcare Market Report Findings

https://www.globalinsightservices.com/reports/blockchain-technology-in-healthcare-market/

The public segment is likely to hold a dominant Blockchain Technology in Healthcare Market share and grow at a substantial CAGR during the forecast period.

Based on type, the market is segregated as private, and public. Amongst them, public segment is poised to register a significant CAGR from 2024 to 2033 led by the rising preference for a public blockchain system that provides several advantages comprising greater transparency, offer decentralized structure, and records everything among others. This blockchain system is widely used to manage healthcare data efficiently. Digital ledger technology (DLT) and Ethereum, a public network, are one of the broadly used blockchain systems in healthcare. The digital ledger technology is highly secure, eliminates the need for a third-party caretaker, and delivers a high amount of transparency. Public blockchain technology is specifically designed to operate with maximum medical data security, thereby augmenting the industry value. Further, the cost-effectiveness of implementing public blockchain technology in healthcare is the key factor that leads to industry expansion. Featuring a high standard of security protocols, reliable portal services, and anonymous nature are expected to positively influence the market demand.

The Clinical Trials segment is anticipated to hold a majority of the Blockchain Technology in Healthcare Market size throughout the study period.

On the basis of application, the Blockchain Technology in Healthcare Market is categorized into Clinical Trials, Supply Chain Management, Data Exchange and Interoperability, Claims Adjudication and Billing Management, and Others. The clinical trials segment held significant share of the blockchain technology in healthcare market in 2023 impelled by the wide range applications of blockchain technology for improving clinical trials quality. Implementation of this technology enhances recruitment, allows full decentralization, supports governance with real-time decision making, and optimizes the performance of repetitive tasks that enable trials to take place effectively. Blockchain technology aids in reaching a considerable level of historicity and inviolability of data for the whole document flow in a clinical trial. This further allows the secure automation of clinical trials through smart contracts, ensures traceability, and prevents a posteriori reconstruction.

The Healthcare Providers segment is anticipated to hold a majority of the Blockchain Technology in Healthcare Market size throughout the study period.

With regards to end-user, the Blockchain Technology in Healthcare Market is divided into Pharmaceutical Companies, Healthcare Payers, Healthcare Providers, and Others. The healthcare providers segment captured significant revenue in 2023 driven by the broad range of uses and applications of blockchain technology in healthcare. The digital ledger technology supports healthcare providers through managing the medicine supply chain efficiently and facilitating the secure transfer of patient medical records. This technology has increased the productivity of healthcare providers by offering a novel model for health information exchanges by making electronic medical records more resourceful. The blockchain system is providing opportunities to healthcare providers by reducing or eliminating the friction and costs of current intermediaries. Additionally, it reduces complexity and creates secure & immutable information.

The North America region is estimated to exhibit the highest growth rate during the Blockchain Technology in Healthcare Market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America Blockchain Technology in Healthcare Market revenue is poised to grow significant CAGR during the forthcoming years. The major market share is attributable to the recent advancements in blockchain technology along with several government initiatives supporting the acceptance of these innovative platforms in healthcare. Venture capital investors are identifying the enormous potential that blockchain technology can offer for enhancing patient care, broadening the reach of health services, and cutting down medical care expenses. Companies functioning in the country comprising BurstIQ, Akiri, Factom, etc. are emphasizing on the development of blockchain technology solutions that ensures healthcare data to remain secured, provide complete and up-to-date information about patients’ health & healthcare activity, etc. Similarly, robust economic growth in the U.S. has led market to showcase strong growth in value terms.

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Competitive Landscape

The global Blockchain Technology in Healthcare Market report includes players such as Akiri, Inc., Avaneer Health, Inc.BurstIQCrystalchainChange Healthcare, Inc.ChronicledEquideum Health, EmbleemaFarma Trust, and Guardtime, among others. For instance, in May-2021, BurstIQ entered into collaboration with The National Center for Advancing Translational Sciences (NCATS) at the National Institutes of Health (NIH). This collaboration aimed to acknowledge the protection of intellectual property related to NCATS’ work on translational science. Similarly, in Jun-2020, Oracle came into a collaboration with HACERA, a US-based technology company. This collaboration aimed to provide reliable information through MiPasa platform.

Recent Developments in the Blockchain Technology in Healthcare Market:

  • In October 2023, Rymedi, a healthcare data exchange platform known for its advanced blockchain security, has secured $9 million in Series A funding. The investment round was jointly led by RW3 Ventures and White Star Capital, with contributions from Blockchange Ventures, Avalanche’s Blizzard Fund, and strategic angel investors from the healthcare sector. With this funding, Rymedi plans to expand its platform’s reach and enhance data security, making healthcare records more accessible for patients worldwide. By doing so, they aim to minimize data entry errors and reduce costs associated with healthcare data infrastructure on a global scale. Rymedi currently serves over 1 million patients across 1,200 locations in the US, Africa, and Australia.
  • In September 2023, Briya, a company that has created a comprehensive healthcare data exchange platform, has finished raising $11.5 million in Series A funding. This brings their total funding to $17 million. The investment round was led by Team8 and includes previous investors such as Insight Partners, Amiti Ventures, and Innocare Health Investments. Additionally, the George Kaiser Family Foundation has joined as a new investor.
  • In Aug-2022: Oracle teamed up with InfStones, the world’s leading blockchain infrastructure provider. This collaboration aimed at combining InfStones’ top blockchain development platform with Oracle Cloud Infrastructure (OCI) to boost Web3 development. This collaboration would assist in delivering major insights that drive the development, evolution, and adoption of Web3 applications across the globe.
  • In Jul-2022: Equideum Health entered into a partnership with SIMBA Chain, a cloud-based, blockchain-as-a-service (BaaS) platform. This partnership aimed to enhance global healthcare by developing a decentralized marketplace called the Equideum Exchange to empower individuals to monetize health as well as health-associated data about them.
  • In May-2022: Equideum Health teamed up with Nokia Bell Labs, an American industrial research and scientific development company. This collaboration aimed to use data generated from video feeds, wearables, smartphones, and home health devices.
  • In Apr-2022: Chronicled partnered with AmerisourceBergen, an American drug wholesale company. This partnership aimed to use a new blockchain-powered solution developed to improve pharmaceutical chargeback accuracy and substantially decrease chargeback rejections.
  • In Aug-2021: Chronicled came into a partnership with MediLedger, an industry-owned permissioned blockchain network. This partnership aimed to use the latest blockchain-powered solution on the MediLedger Network to simplify operations over the pharmaceutical supply chain and allow a reliable, frictionless experience for pharmacies over the country.
Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Blockchain Technology in Healthcare Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Blockchain Technology in Healthcare Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Blockchain Technology in Healthcare industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Blockchain Technology in Healthcare Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Blockchain Technology in Healthcare Market along with current trends and future estimations to depict imminent investment pockets. The overall Blockchain Technology in Healthcare industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Blockchain Technology in Healthcare Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.

Global Blockchain Technology in Healthcare Market Segmentation

By Type

  • Public
  • Private

By Application

  • Clinical Trials
  • Supply Chain Management
  • Data Exchange and Interoperability
  • Claims Adjudication and Billing Management
  • Others

By End-user

  • Pharmaceutical Companies
  • Healthcare Payers
  • Healthcare Providers
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players

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Telemedicine Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the global telemedicine market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 98.5 Billion by 2033.

Telemedicine, also known as telehealth or e-medicine, is the remote delivery of healthcare services via telecommunications infrastructure, such as exams and consultations. According to recent research, 90% of organisations have already started or implemented telemedicine programmes. Even small, independent medical practises are beginning to embrace telemedicine in order to compete with local retail clinics and stop losing patients.

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Telemedicine Market: Key Trends and Drivers

Surging prevalence of chronic diseases and cost-benefits of telemedicine will propel the market expansion. For instance, according to the US CDC, chronic diseases are major causes of death and disability globally and are strong contributors to the rise in annual healthcare expenditures. The management of chronic diseases requires constant monitoring and therapy to slow their progress. Telehealth and telemedicine, especially remote patient monitoring (RPM)/tele-homecare, are capable of improving patient self-management, medication compliance, clinical outcomes, and patient & provider satisfaction while reducing emergency room visits, hospital admissions, primary care utilization, long-term care, home admissions, and patient travel costs. These advantages are driving the demand for telehealth among end-users.

Telemedicine Market: Restraints & Challenges

Healthcare fraud is an important factor to consider in telehealth and telemedicine practises. A patient or a physician can be victimised in a variety of ways, such as when the physician’s name and accounts are used to receive payments from the insurance company, or when non-eligible or non-listed institutional providers practise improper coding and billing for false claims. Such fraudulent activities can erode trust and credibility in telehealth and telemedicine services. Victimized patients also have a tendency to share their negative experiences in the media, which affects many new entrants, limiting market growth.

Telemedicine Market Report Findings

https://www.globalinsightservices.com/reports/telemedicine-market/

The telemonitoring segment is likely to hold a dominant telemedicine market share and grow at a substantial CAGR during the forecast period.

Based on service, it is segmented into the tele-consulting, tele-monitoring, and tele-education/training. The tele-consulting segment accounted for the largest share of the global telemedicine market in 2023. The large share of the segment can be attributed to the growing demand for home-based remote monitoring service will boost the number of tele-consultations. Moreover, rising geriatric population base and increasing demand for home-based remote monitoring service. Remote telehealth monitoring programs are been initiated by several governments that focused on improving medication management and improves disease management at homecare setting. This will increase the demand for tele-consultation service. Furthermore, increasing need for providing healthcare services to patient at remote places coupled with rising demand for saving travel time will propel the segment growth.

The telehome segment is anticipated to hold a majority of the telemedicine market size throughout the study period.

Based on type, it is segmented into telehospital, and telehome. The telehospital segment is likely to dominate the market during the forecast period. This is due to increasing adoption and usage of telemedicine services in hospital setting to consult various specialists by doctors. This will result in cost savings for the hospitals as well as for the patients. The convenience and efficiency offered by telehospital services, such as remote consultations, virtual monitoring, and remote diagnostic capabilities, have garnered substantial attention from both healthcare providers and patients. The segment’s growth is expected to persist as advancements in technology, regulatory support, and the increasing acceptance of remote healthcare services continue to drive its adoption, ultimately reshaping the way healthcare is accessed and delivered on a global scale. Also, increasing government funding and grants for encouraging adoption of telemedicine services in hospitals will boost the segment demand.

The gynaecology segment is anticipated to hold a majority of the telemedicine market size throughout the study period.

Based on specialty, it is segmented into cardiology, gynecology, neurology, orthopedics, dermatology, mental health, and others. The cardiology segment is likely to dominate the market during the forecast period. This is owing to high With advances in remote monitoring technology and the increasing adoption of virtual healthcare platforms, patients and healthcare providers are recognizing the convenience and effectiveness of remote cardiology consultations. Telecardiology offers timely access to expert cardiac care, especially for individuals in remote or underserved areas, enabling early diagnosis, continuous monitoring of chronic conditions, and post-operative follow-ups without the constraints of physical distance. This growth is driven by a combination of factors, including the rising prevalence of cardiovascular diseases, technological advancements, reimbursement support, and the ongoing global shift towards more personalized and accessible healthcare solutions. As the telemedicine landscape evolves, the cardiology specialty is poised to play a pivotal role in shaping the future of remote healthcare delivery.

The web/mobile segment is anticipated to hold a majority of the telemedicine market size throughout the study period.

Based on delivery mode, it is segmented into web/mobile and call centers. The web/mobile delivery mode segment is likely to dominate the market during the forecast timeframe. the growth of web and mobile delivery modes, reflecting the increasing preference for remote healthcare services. This trend is driven by the convenience and accessibility offered by these platforms, allowing patients to connect with healthcare professionals seamlessly from the comfort of their homes. The proliferation of smartphones, coupled with advanced web-based applications, has facilitated real-time consultations, remote monitoring, and prescription delivery, thus expanding the reach of healthcare services to a wider population. As technology continues to evolve and user-friendly interfaces become more prevalent, the web and mobile delivery segment is poised to continue its upward trajectory, reshaping the way healthcare is accessed and delivered.

The North American region is estimated to exhibit the highest share during the Ventilators market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World.  The North American region is accounted for the majority of market share during the forecast period. This is due to the rising need to curb growing healthcare costs. For instance, the per capita healthcare expenditure in U.S. is USD 9,403. Thus, high healthcare costs in the country have increased the demand of the market. Also, Presence of well-established telecommunications network coupled with rising need to provide immediate and affordable healthcare services to patients in remote places will boost the regional market growth. Furthermore, increased usage and adoption of telemedicine services by clinicians, development of new technologies, and increased patient acceptance have all contributed to the positive industry outlook in North America. Asia Pacific, is anticipated to be the fastest-growing regional market during the forecast period. This rapid growth can be attributed to the presence of a large patient population pool, increasing internet usage, and rapid demand for healthcare assistance, especially in the rural areas. Emerging economies including India and China are estimated to lead the regional market in the years to come. In March 2021, India Brand Equity Foundation (IBEF) reported that the Indian government launched a telemedicine service-eSanjeevani and completed around 3 million consultations across the nation.

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Competitive Landscape

The global telemedicine market report includes players such as Koninklijke Philips (Netherlands), Medtronic (Ireland), GE Healthcare (US), Cerner Corporation (US), Siemens Healthineers (Germany), Cisco Systems (US), Asahi Kasei Corporation (Japan), Teladoc Health (US), American Well (US), and AMC Health (US), among other.

Recent Developments in the Telemedicine Market:

  • In February 2024, Theresa Greenfield, the USDA Rural Development State Director in Iowa, revealed that the Agency will be allocating $1,823,465 across three grants. These grants aim to enhance access to education, training, and healthcare services in rural Iowa by supporting telemedicine and distance learning initiatives.
  • In December 2023, Vivo Ventures, a venture capital fund associated with Telefonica Brasil, has pledged to invest BRL25 million (equivalent to $5.1 million) in Conexa Health. Conexa Health is known for developing the largest integrated telemedicine platform in Latin America.
  • In April 2022, Bayer announced that it is setting up 27 telemedicine centres in 12 districts across eight states in India over the next two years through Bayer Foundation India.
  • In January 2022, SwiftMD, announced the launch of its newly designed website, SwiftMD.com, and telehealth app as part of a brand refresh.
  • In December 2021, Mesmerize announced partnership with VSee. This partnership is aimed to provide additional platform for Mesmerize’s advertisers to reach healthcare providers and patients within Mesmerize’s network telehealth solutions to offer remote patient monitoring services. This partnership will deliver best in class telehealth care service offerings.
  • In December 2021, AFC Industries acquired AALL AMERICAN Fasteners (AAF). This acquisition helped the firm to develop innovative and high performing healthcare telemedicine equipment.

Telemedicine Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Telemedicine Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Telemedicine Market in terms of revenue ($Million) and volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Telemedicine industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Telemedicine Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Telemedicine Market along with current trends and future estimations to depict imminent investment pockets. The overall Telemedicine industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Telemedicine Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.

Global Telemedicine Market Segments

By Service

  • Tele-consulting
  • Tele-monitoring
  • Tele-education/training
  • Others

By Type

  • Telehospital
  • Telehome

By Specialty

  • Cardiology
  • Gynaecology
  • Neurology
  • Orthopaedics
  • Dermatology
  • Mental health
  • Others

By Delivery Mode

  • Web/Mobile
  • Call centers

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players Profiled in the Report

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Laser Therapy Devices Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the global Laser Therapy Devices market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 6.8 Billion by 2033.

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Laser Therapy Devices Market: Key Trends and Drivers

Rising consumer preference for innovative and non-invasive laser based technologies will foster the demand for laser therapies across the globe. Increasing number of geriatric population will further induce inn the demand for this technology as it helps to reduce pain and inflammation in the body. Rising eye disorders too will bolster the laser therapy market growth. Increase in the personal disposable income and increased demand for cosmetic surgeries will further create more lucrative opportunities for growth of laser therapy market.

Laser Therapy Devices Market: Restraints & Challenges

High costs involved in the installation and maintenance of the technology will dampen the growth of the market. Further, stringent regulations imposed by the government on the acquisition and installation of the technology will slow down the market growth rate. High rate of failure of laser based surgical procedures coupled with the side effects of undergoing a laser therapy will further come as an obstruction in the way of growth of the market.

Laser Therapy Devices Market Report Findings

https://www.globalinsightservices.com/reports/laser-therapy-devices-market/

The liquid/dye laser system segment is likely to hold a dominant Laser Therapy Devices market share and grow at a substantial CAGR during the forecast period.

By product, the market is segmented into gas laser systems, liquid/dye laser systems, semiconductor/diode laser systems, and others. The liquid/dye laser system segment accounted for the largest share of the global revenue in 2023, owing to the wide usage of these products on account of their rapid treatment results. They have proven to be safer for all skin tones & hair colors and facilitate less painful treatment procedures. With technological advancements, these products are expected to dominate the market even during the forecast period. Laser devices are sub-segmented into Nd: YAG, diode, and alexandrite laser systems.

The ophthalmology segment is anticipated to hold a majority of the Laser Therapy Devices market size throughout the study period.

By application, the laser therapy devices market is classified into dermatology, cardiovascular, oncology, and others. The ophthalmology segment is estimated to register considerable expansion through 2033. This is because ophthalmic lasers enable the precise treatment of an array of eye issues with minimal risk of infection. It is noteworthy that a number of laser processes are relatively pain free and can be performed on an outpatient basis. Besides, these provide the advantages of relatively low cost, high accuracy, and safety and essentially destroy the targeted tissue for a beneficial impact on the eye. These aspects are expected to propel the usage of laser therapy for eyes during the forecast period.

The hospital pharmacies segment is anticipated to hold a majority of the Laser Therapy Devices market size throughout the study period.

The end-user segment of the market is bifurcated into Hospitals, Ambulatory Surgical Centers, Specialized Clinics, and Others. The hospitals segment is projected to account for a lucrative share in the laser therapy devices market by 2033. This growth is attributed to the availability of innovative and advanced technology-based laser devices in these settings. The product demand is further slated to rise with an increase in hospitalizations for complex procedures such as cancer-related processes and cardiovascular disorders. The availability of favorable reimbursement policies and improving hospital infrastructure are poised to boost the market expansion through the analysis period.

The North America region is estimated to exhibit the highest growth rate during the Laser Therapy Devices market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America Laser Therapy Devices market revenue is poised to grow significant CAGR during the forthcoming years. This is owing to an increase in the provision of patents in the region. For instance, in July 2021, Aspen Laser LLC, a major medical solutions company, has been awarded a new patent by the USPTO (U.S. Patent and Trademark Office). The patent will cover particular laser devices that will be manufactured by the company and sold in the veterinary and medical markets.

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Competitive Landscape

The global laser therapy devices market report includes players such as Boston Scientific Corporation, IPG Photonics Corporation, Lumenis Ltd., Coherent Inc., Biolitec AG, Hologic Inc., Alma Lasers Ltd., Fotona D.D, Danaher Corporation, and Thermo Fisher Scientific Inc., among others.

Recent Developments in the Laser Therapy Devices Market:

  • In February 2024, Iridex Corporation, a leading provider of laser-based medical systems for eye care, has been granted a European patent for its innovative short pulse laser technology. This patent, EP 3009093, specifically covers the company’s MicroPulse® devices and their usage methods, representing a significant achievement in medical laser treatments. The patented technology is engineered to administer short, precisely controlled pulses, with the goal of minimizing the risk of retinal damage and vision loss typically associated with traditional laser therapies. Clinical studies have demonstrated the safety and effectiveness of this technology in various eye procedures, including those related to the retina and glaucoma.
  • In May 2023, Norlase has completed its largest investment round to date, securing $11 million USD in funding led by London-based firm West Hill Capital. The funding follows the recent FDA clearance and CE mark approval of Norlase’s pattern laser, known as ECHO. With this financial boost, Norlase plans to speed up production of the pattern laser and its other advanced laser treatment solutions. This is particularly important as there is a global shortage of eye doctors and an increasing number of patients due to the growing prevalence of diabetes and aging populations.
  • In October 2022, A £2 million development boost has been allocated to support the creation of an Ion Therapy Research Facility (ITRF), which aims to enhance ion beam therapy for cancer treatment. The funding, provided by UK Research and Innovation (UKRI), will enable researchers, including physicists from Imperial College London, to advance their plans for more affordable and adaptable ion beam therapy. The ITRF will provide a platform for scientists to conduct essential studies on how ion beams interact with biological tissue. Additionally, it will facilitate testing of new cancer therapies in conjunction with drug treatments.
  • In October 2022, Dexcom has begun the global rollout of its G7 continuous glucose monitoring system by making the device available in the U.K., Ireland, Germany, Austria and Hong Kong. The device is designed to be smaller, easier to use and have a better mobile application than its predecessor, while also powering up faster than rival CGM systems. Still the U.S. launch has been delayed, until late 2022.
  • In August 2022, Teladoc Health, the announced the addition of a home A1C testing program to its Livongo by Teladoc Health chronic care solution, making it easier for members to manage and control their diabetes
  • In September 2021, Know Labs Inc, a US-based company that manufactures glucose monitoring devices launched a new portable medical-grade glucose monitoring device named KnowU that utilizes Bio-RFID technology. This device is a non-invasive glucose monitoring machine that has a base that powers the device and displays readings and, a battery a powered monitor with Bio-RFID sensors that can be carried by the users to check sugar levels on the go.
  • In May 2021, Roche collaborated with Eli Lilly and Company, to work towards enhancing the management of insulin pen therapy. With this collaboration, Roche follows its ambition to create an open ecosystem including its own and partner devices, solutions, and services, across the continuum of care in diabetes.

Laser Therapy Devices Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Laser Therapy Devices Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Laser Therapy Devices Market in terms of revenue ($Million) and volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Laser Therapy Devices industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Laser Therapy Devices Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Laser Therapy Devices Market along with current trends and future estimations to depict imminent investment pockets. The overall Laser Therapy Devices industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Laser Therapy Devices Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.

Global Laser Therapy Devices Market Segmentation

By Type

  • Self-monitoring Blood Glucose Meters
  • Continuous Glucose Monitors
  • Testing Strips
  • Lancets

By Application

  • Type 1 Diabetes
  • Type 2 Diabetes
  • Gestational Diabetes

By End-user

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Sales
  • Diabetes Clinics & Centers

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players

 

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Orthotics & Prosthetics Market
March, 2024

New York, February 2024: According to a new research study by Global Insight Services (GIS), the Orthotics & Prosthetics Market is expected to grow rapidly over the next 10 years and it is expected to reach a CAGR 3.6% during the forecast period.

Prostheses, including artificial legs and hands, along with orthoses, such as braces and splints, empower individuals with physical impairments or functional limitations to lead healthy, productive, independent, and dignified lives. They facilitate participation in education, the labor market, and social activities.

Orthotists and prosthetists are responsible for measuring, designing, fitting, and customizing musculoskeletal devices for patients dealing with disabling conditions. These devices include artificial limbs and orthopedic braces.

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Orthotics & Prosthetics Market: Market Drivers and Trends

Development of Innovative Materials for Enhanced Functionality

The development of innovative materials is a significant market trend in the orthotics and prosthetics industry, driven by several growth factors. One key factor is the constant pursuit of improving the functionality and performance of orthotic and prosthetic devices. Advances in materials science contribute to the creation of lighter, more durable, and technologically enhanced components, addressing the evolving needs of patients and healthcare providers.

The increasing demand for patient-specific solutions propels growth in this area. Innovative materials allow for greater customization and personalization of orthotic and prosthetic devices, ensuring a better fit and improved comfort for individual users. The integration of materials that mimic natural biomechanics and offer enhanced flexibility supports a more natural range of motion, positively impacting patient outcomes.

Growing Geriatric Population Worldwide

The growing geriatric population worldwide serves as a significant market trend for the orthotics and prosthetics industry, driven by various growth factors that underscore the increasing demand for these specialized healthcare solutions. One primary factor contributing to this trend is the demographic shift toward an aging population globally. As individuals age, there is a higher likelihood of experiencing musculoskeletal issues, degenerative conditions, and mobility challenges, leading to an increased need for orthotic and prosthetic interventions.

The rise in chronic health conditions among the elderly, such as osteoarthritis, osteoporosis, and vascular diseases, further amplifies the demand for orthotic and prosthetic devices. These conditions often result in orthopedic complications, necessitating the use of supportive devices to enhance mobility, alleviate pain, and improve overall quality of life for the aging population.

Market Restraints and Challenges

High cost of Orthotics & Prosthetics devices Could Impede Market Growth

The higher cost of customized Orthotics & Prosthetics devices is likely to be a major impediment to the expansion of the worldwide market. Orthotic and prosthetic devices are often expensive because they require advanced technology, high-quality raw materials, and design and manufacturing experience. Apart from the original equipment purchase, the cost includes maintenance, repairs, and replacement parts. The price burden limits access for persons who may benefit from orthotics or prostheses, particularly in low-income areas or nations with limited healthcare resources. It is difficult to develop strategies that reduce the cost of these items without sacrificing quality. As a result, the high cost of these devices is estimated to be remain unless the price of the raw materials come down.

Inadequate healthcare infrastructure

Inadequate healthcare infrastructure poses a significant threat to the growth of the orthotics and prosthetics market by limiting access to this critical equipment. The efficacy of orthotic and prosthetic solutions is strongly dependent on an established healthcare infrastructure that includes experienced healthcare professionals, rehabilitation facilities, and support services. Patients may experience difficulties in receiving timely and appropriate orthotic and prosthetic care in areas with inadequate healthcare infrastructure.

One of the most serious challenges linked with poor healthcare infrastructure is a shortage of educated experts, such as orthotists and prosthetists. These professionals are critical in determining patients’ needs, creating unique equipment, and providing necessary follow-up treatment. The limited availability of these specialists might lead to delayed fits, incorrect device modifications, and overall poor patient outcomes.

Orthotics & Prosthetics Market Report Findings

https://www.globalinsightservices.com/reports/prosthetics-and-orthotics-market/

The orthopedic braces segment is likely to hold the major share of the market in 2023

The orthotics device market is experiencing robust growth, propelled by factors such as an aging population, a surge in musculoskeletal disorders, and technological advancements. Innovations in materials and manufacturing techniques contribute to the market’s expansion, with a heightened focus on enhancing patient comfort and functionality. This sector is witnessing continuous development to address the increasing demand for orthotic solutions worldwide. The orthopedic braces market is thriving, fueled by the escalating prevalence of orthopedic conditions and a growing aging population. Technological advancements in brace design and materials contribute to market expansion, offering enhanced comfort and efficacy. Rising awareness of orthopedic solutions and an increasing emphasis on sports-related injury prevention further propel market growth globally. The market for other orthotic devices is witnessing significant growth, driven by advancements in technology and an increasing awareness of orthopedic solutions. These devices cater to diverse needs, addressing conditions beyond traditional orthopedic braces. Growing demand for personalized and innovative orthotic solutions contributes to the expansion of this dynamic market globally.

The anatomic components segment is likely to hold the major share of the market in 2023

The global prosthetics market was valued at USD 1,544.4 million in 2023, and is projected to reach USD 2,511.2 million by 2033, growing at a CAGR of 4.7% from 2023 to 2033. A prosthetic device is an artificial device designed to replace or augment a missing or impaired body part. It is typically custom-made to fit the individual’s anatomy and restore functionality and aesthetics. Prosthetic devices can range from limbs and joints to facial features and organs, and they serve to enhance mobility, independence, and quality of life for individuals with limb loss or physical impairments. Advanced prosthetic technologies continue to evolve, offering users greater comfort, functionality, and natural movement. The prosthetic device market includes prosthetic liners, sockets, lower-extremity components (for the foot, knee, and hip), and upper-extremity components (for the hand, elbow, and shoulder). The global prosthetic device market is witnessing significant growth driven by various factors, including the increasing number of road accidents and the subsequent rise in casualties. According to StatBel statistics published in June 2022, Belgium alone recorded 34,640 road traffic accidents in 2021, resulting in 42,566 casualties, including 3,098 seriously injured individuals. This high burden of accidents increase the potential demand for prosthetics, driving market growth.

The North America region is likely to hold the major share of the market in 2023

Region-wise, the segment is divided into North America, Asia Pacific, Europe, and Rest of the World. The North America region dominated the market in 2023 and it is expected to dominate during the forecast period. The North American orthotics and prosthetics market is propelled by a growing aging population, increasing prevalence of orthopedic disorders, and robust healthcare infrastructure. Technological advancements, coupled with rising awareness and acceptance of orthotic solutions, contribute to market growth. Stringent regulatory standards and favorable reimbursement policies further bolster the market in this region.

In Europe, the orthotics and prosthetics market is thriving due to factors such as an aging population, rising incidence of musculoskeletal disorders, and continuous advancements in medical technology. The presence of well-established healthcare systems and proactive initiatives to enhance patient care contribute to the market’s positive trajectory. Additionally, collaborations between research institutions and industry players drive innovation in orthopedic solutions.

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Competitive Landscape

The Prosthetics & Orthotics Market includes players such as Aether Biomedical, Mobius Bionics, Proteor, Click Medical, Orthomerica Products, Inc., Streifeneder Group, WillowWood Global LLC, Aetrex Inc., DeRoyal Industries, OrthoFeet, DJO Global (Enovis), Bird & Cronin (Dynatronics Corporation), Ottobock, Össur, Blatchford Limited (a part of CBPE Capital LLP), Fillauer LLC (a part of Hanger, Inc.), Ultraflex Systems, Steeper Group (a part of Eqwal Group), ALPS® South, LLC, Trulife, Ortho Europe (a brand of AM Healthcare Group), Bauerfeind AG, and Spenco.

Orthotics & Prosthetics Market: Recent Developments

  • In July 2023, WillowWood introduced the Fiberglass META Shock X, featuring the company’s META-Unibody platform and a build height of just under 5.5 inches, thus offering several fitting options for various limb lengths. It also has an integrated shock unit on top of the fiberglass plate that combines torsional rotation and vertical impact protection.
  • In June 2023, Fillauer launched the Myo/One Electrode system, designed in partnership with Coapt. It is a streamlined, waterproof solution with one preamplifier providing two EMG signal channels for myoelectric devices and replaces fabrication aids, sealing rings, cables, and other devices with a cable. The system has two connection options and is compatible with the majority of the dual-site myoelectric devices.
  • In May 2023, WillowWood and Coapt revealed the Alpha Control Liner System, a cutting-edge prosthetic liner with built-in electronics. Users of myoelectric prostheses benefit from this method because it allows for more consistent and comfortable electrode contact with the skin, improving functional control. To understand user intents and regulate prosthetic actions, Coapt’s Complete Control system uses machine learning.
  • In January 2023, Steeper Group’s lower limb portfolio includes the LIMB-art Prosthetic Leg Covers, which are available in a variety of designs and may be personalized to increase patients’ confidence and self-esteem. The covers are available in four different models: Core, Vent, Ultralight, and Wave, each weighing less than 250 grams. Furthermore, they were made from superior Nylon, which offers the finished product strength and flexibility.
  • In October 2022, Össur hf. introduced three new types of their trademark cheetah sports prosthesis. The cheetah is a J-shaped, carbon fiber prosthetic sports foot with a characteristic curving form based on the rear leg of the world’s fastest land mammal. The three new versions were created for amputee athletes who compete in certain athletic disciplines such as sprinting, distance running, and long jumping. The cheetah is implant-agnostic, letting athletes utilize the implant of their choosing, and it has a tiny footprint, making it suitable for usage in a variety of sports scenarios. The cheetah is a custom-made, high-performance carbon fiber foot designed for sprinting.
Orthotics & Prosthetics Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Orthotics & Prosthetics Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Orthotics & Prosthetics Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Orthotics & Prosthetics industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Orthotics & Prosthetics Market Study comprises an analysis of 24 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Orthotics & Prosthetics Market along with current trends and future estimations to depict imminent investment pockets. The overall Orthotics & Prosthetics industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Orthotics & Prosthetics Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segments

By Orthotics Devices

  • Orthopedic Braces
    • Rigid Braces
      • Knee
        • Ligament
        • Postoperative
        • Osteoarthritis
      • Back
      • Ankle
      • Elbow
      • Wrist
      • Shoulder
      • Hip
    • Soft Braces
    • Walker Boots
  • Other Orthotic Devices
    • Orthotic Shoe
      • Stock
      • Custom
    • Orthotic Inserts
      • Stock
      • Custom

By Prosthetic Devices

  • Anatomic Components
    • Lower-extremity
      • Foot Component
        • Mechanical
        • Microprocessor
      • Knee Component
        • Mechanical
        • Microprocessor
      • Hip
    • Upper-extremity
      • Hand Component
        • Mechanical
        • Myoelectric
      • Elbow Component
        • Body-powered
        • Externally Powered
      • Shoulder
  • Liners
  • Sockets
  • Modular Components

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa
Key Players
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Population Health Management Market
February, 2024

New York, February 2024: According to a new research study by Global Insight Services (GIS), the Population Health Management Market is expected to grow rapidly over the next 10 years and it is expected to reach a CAGR 28.2% during the forecast period.

Population health management is an approach to healthcare that focuses on improving the health of a specific population. This can be done by identifying and addressing health risks, providing access to care, and improving the quality of care. Population health management can help to improve the overall health of a population and reduce healthcare costs.

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Population Health Management Market: Market Drivers and Trends

The key trends in Population Health Management technology are:

The use of data to drive decision-making: Population health management programs are increasingly using data to drive decision-making. This includes the use of data to identify population health risks, to track progress towards goals, and to evaluate the effectiveness of interventions.

The use of technology to support population health management: A variety of technology tools are being used to support population health management programs. These tools include electronic health records, health information exchanges, data analytics platforms, and mobile health applications.

The focus on community health: Many population health management programs are focused on improving community health. This includes initiatives to improve access to care, to reduce health disparities, and to promote healthy lifestyles.

There are a few key drivers of the Population Health Management market. One is the rising cost of healthcare. This is putting pressure on providers to find ways to improve outcomes while reducing costs. Another driver is the increasing prevalence of chronic diseases. This is leading to a greater need for Population Health Management solutions that can help manage these conditions.

Additionally, the aging population is also driving the need for Population Health Management solutions. As the population ages, there is a greater need for solutions that can help manage chronic conditions and improve health outcomes.

Market Restraints and Challenges

The key restraints and challenges in Population Health Management market are as follows:

Lack of data standardization: One of the key challenges in the population health management market is the lack of data standardization. This makes it difficult to compare and analyze data from different sources.

Privacy and security concerns: Privacy and security concerns are also a major challenge in the population health management market. These systems usually require access to sensitive patient data which raises concerns about the misuse of this data.

Population Health Management Market Report Findings

https://www.globalinsightservices.com/reports/population-health-management-market/

The software segment is likely to hold the major share of the market in 2023

By component, the market is classified into software and services. The software segment has dominated the market in 2023 with highest market share and is anticipated to be the fastest growing segment during the forecast period. The is primarily due to the increasing use of technology in the healthcare department, especially in developed economies with advanced healthcare infrastructure.

The healthcare providers segment is likely to hold the major share of the market in 2023

Based on end-user, the market is classified into healthcare providers, healthcare payers, and others. In 2023, the healthcare providers segment dominated the market, and healthcare payers is anticipated to be the fastest growing segment in the coming years.

The North American region is likely to hold the major share of the market in 2023

Region-wise, the market is classified into North America, Europe, Asia-Pacific, and Rest of the world. The North America market has dominated the market in 2023 and Asia-Pacific is expected to be the fastest growing segment in the coming years. The expansion in the healthcare industry in North America is fueled by lower medical expenses, the widespread adoption of cloud computing, regulatory developments, the growing integration of information technology in healthcare, and the increasing occurrence of diseases. Specifically, the United States serves as a key center for commercialized Population Health Management (PHM) services, boasting over 100 operating companies. The substantial market potential is drawing in new entrants, and existing players are enhancing their current services with value-based additions to unlock fresh opportunities in the market.

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Competitive Landscape

Some major key players of Population Health Management Market are Cerner Corporation (US), Epic Systems Corporation  (US), Koninklijke Philips  (Netherlands), i2i Population Health  (US), Health Catalyst  (US), Optum  (US), Enli Health Intelligence  (US), eClinicalWorks  (US), Orion Health  (New Zealand), and Allscripts Healthcare Solutions (US).

Population Health Management Market: Recent Developments
  • In February 2024, Persistent Systems has introduced an inventive Population Health Management (PHM) Solution, leveraging Generative AI and developed in partnership with Microsoft. This solution, in line with value-based care models, detects Social Determinants of Health (SDoH) to understand nonclinical requirements of patients and predict healthcare costs associated with clinical conditions more accurately. The aim is to ensure that patients get high-quality care when and where they need it, optimizing both capacity and cost-effectiveness for healthcare providers and organizations.
  • In August 2023, Microsoft and Epic are joining forces to enhance their collaboration in using generative AI to make a significant impact in healthcare. The potential of technology to address major challenges is more evident than ever, especially in the healthcare sector where generative AI can play a crucial role. Epic and Microsoft have been leading the efforts to bring generative AI to the forefront of healthcare. This collaboration aims to support healthcare professionals in providing better care to patients and addressing pressing issues such as workforce burnout and staff shortages. The focus is on leveraging the capabilities of generative AI to make a positive and impactful difference in the healthcare industry.
  • In August 2023, Marathon Health, a prominent provider of direct primary care services for employers, has successfully acquired Cerner Workforce Health Solutions (WHS), which comprises dedicated onsite and near-site health clinics. This acquisition marks a significant expansion for Marathon, allowing the broader implementation of its distinctive population health model across more employers, locations, and members. The transaction was completed on August 1, 2023.
Population Health Management Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Population Health Management Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Population Health Management Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Population Health Management industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Population Health Management Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Population Health Management Market along with current trends and future estimations to depict imminent investment pockets. The overall Population Health Management industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Population Health Management Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segments

By Components

  • Software
  • Services

By End User

  • Healthcare Providers
  • Healthcare Payers
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  •  The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
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Colorectal Procedure Market
February, 2024

Colorectal Procedure Market to Reach US$ 40.5 Bn by 2033, driven by rising patient demand for advanced diagnostics and therapeutics in the global colorectal cancer market: Global Insight Services

New York, February 2024: According to a new research study by Global Insight Services (GIS), the global Colorectal Procedure Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 40.5 Billion by 2033.

Colorectal surgery is a broad term used to describe different surgical procedures to treat the problems of the lower gut. The surgery is used to treat colon, anus, and rectum diseases. The surgery can be performed in both adults and children. It can be used to treat conditions like piles, hemorrhoids, anal fistula, colon and rectal cancer, injuries to the anus, congenital disabilities, Crohn’s disease, severe constipation conditions and more. Some of the standard surgical procedures involved in colorectal surgery include colectomy, hemorrhoidectomy, laparoscopic surgery, anoplasty, bowel resection surgery, and more. The recovery time after colorectal surgery depends significantly on the type of surgical procedure performed. Colorectal surgery is generally performed under local anesthesia, intravenous sedation or general anesthesia. The surgery begins by making incisions around the abdomen. There are several ways to perform colorectal surgery, depending on the conditions that need to be treated.

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Colorectal Procedure Market: Key Trends and Drivers

Increase in the number of colorectal cancers patients

Colorectal cancer is one of the most common and deadly cancers, developing from genetic and environmental factors. It was the third most prevalent cancer globally in 2020, with around 1.93 million new cases and 916,000 deaths. The lifetime risk is about 1 in 23 for men and 1 in 25 for women. Significant numbers are diagnosed in North America, with 1.93 million US adults diagnosed and 53,200 deaths in 2020. European countries like the UK also see high rates, with 16,571 deaths between 2016-2018 and around 110 new cases daily. Asian countries, including Japan, China, Malaysia, Singapore, Korea, and Turkey, are witnessing increasing prevalence as well, with an estimated 1,000,400 new cases in Asia in 2020. This rising patient burden is driving demand for advanced diagnostics and therapeutics in the global colorectal cancer market.

Colorectal Procedure Market: Restraints & Challenges

One of the major restraint for the market includes the cost of treatment patient. It is Predicted that its cost around USD 29,196 per patient for the treatment. The high costs of devices used in colorectal surgery limit the growth of the global colorectal cancer market. Surgical tools and equipment for colorectal procedures, like laparoscopic and robotic systems, are very expensive. Hospitals and clinics have to spend a lot of money to buy these advanced devices and then keep paying for their maintenance, disposable parts, and training staff to use them properly. This high upfront and ongoing cost makes it difficult for many healthcare facilities, especially in poorer regions with limited budgets, to afford and adopt these modern surgical devices. As a result, the high prices restrict access to the latest surgical treatments for colorectal cancer patients, which holds back the overall growth and progress of the colorectal cancer market worldwide.

Colorectal Procedure Market Report Findings

https://www.globalinsightservices.com/reports/colorectal-procedure-market/

The endoscope segment is likely to hold a dominant Colorectal Procedure Market share and grow at a substantial CAGR during the forecast period.

Based on product, the colorectal procedure market is segmented into endoscope, electrosurgery, handheld devices & visual systems, sealing & stapling devices, ligation clips and dilators and speculas, cutter & shears, accessories, and others.  Among these, the endoscope segment had the largest market share. This segment’s leading position is due to the rising number of colorectal cancer cases globally. Endoscopes are widely used for treating colorectal cancer. For example, a report from the Public Library of Science (PLOS) states that in the US, colorectal cancer was diagnosed in 40.7 out of every 100,000 people and was the third leading cause of cancer death (14.8 out of 100,000) in 2020. Therefore, the demand for endoscopes increased to address this issue. Diagnosing colorectal diseases has become more successful due to advancements in endoscopic technology.

The right hemicolectomy segment is likely to hold a dominant Colorectal Procedure Market share and grow at a substantial CAGR during the forecast period.

Based on surgery type, the market is segmented into right hemicolectomy, left hemicolectomy, subtotal colectomy, low anterior resection, abdomino-perineal resection, and others. Among these, right hemicolectomy segment accounted for significant market share.  This procedure involves the surgical removal of the right portion of the colon and is often employed to treat conditions such as colon cancer and severe cases of Crohn’s disease. The increasing prevalence of colorectal diseases, coupled with advancements in surgical techniques and technologies, has propelled the demand for right hemicolectomy procedures. Moreover, factors such as a growing aging population and rising awareness about early detection and treatment options further contribute to the expansion of this segment. As healthcare providers continue to prioritize minimally invasive and effective surgical interventions, the right hemicolectomy segment is expected to sustain its growth trajectory, significantly impacting the overall colorectal procedure market.

The crohn’s disease segment is likely to hold a dominant Colorectal Procedure Market share and grow at a substantial CAGR during the forecast period.

Based on indication, the market is segmented into colon polyps, crohn’s disease, colorectal cancer, colitis, irritable bowel syndrome, and other indications. Among these, crohn’s disease segment accounted for significant market share.  Crohn’s disease, a chronic inflammatory condition affecting the gastrointestinal tract, stands as a significant driver in the growth of the colorectal procedure market. With its increasing prevalence and the consequent rise in the number of patients requiring surgical interventions, there’s a corresponding expansion in the demand for colorectal procedures. The intricate nature of Crohn’s disease often necessitates surgical interventions such as bowel resections, stricturoplasties, and fistula repairs, driving the market growth for specialized colorectal procedures. Additionally, advancements in surgical techniques and technologies aimed at managing Crohn’s disease, coupled with the growing awareness among patients and healthcare providers regarding the importance of early intervention, further propel the segment’s growth within the colorectal procedure market. As the prevalence of Crohn’s disease continues to rise globally, the colorectal procedure market is poised to witness sustained expansion, driven significantly by the demand for innovative surgical solutions catering to the complexities of this condition.

The hospitals & clinics segment is likely to hold a dominant Colorectal Procedure Market share and grow at a substantial CAGR during the forecast period.

Based on end user, the colorectal procedure market is segmented into hospitals & clinics, surgery centers, and others. Among these, hospitals & clinics segment accounted for significant market share.   As healthcare facilities continue to prioritize efficient and specialized care, the adoption of colorectal procedures has gained momentum. Hospitals and clinics serve as crucial hubs for diagnosis, treatment, and post-operative care, offering patients comprehensive services and access to skilled healthcare professionals. The growing awareness about colorectal health, coupled with the rising incidence of colorectal disorders, has propelled the expansion of this market segment. Furthermore, the development of minimally invasive techniques and the introduction of innovative medical devices have enhanced treatment outcomes and patient experiences within these end-user environments, fostering sustained growth in the colorectal procedure market.

The North America region is estimated to exhibit the highest growth rate during the Colorectal Procedure Market forecast period.

Region-wise, the Colorectal Procedure market is studied across North America, Europe, Asia Pacific, and the Rest of the World. In 2022, North America dominated the market, capturing a significant market share, and is expected to showcase a notable Compound Annual Growth Rate (CAGR) during the forecast period. The growth in North America is primarily driven by factors such as the growing aging population, rising government funding, and continuous technological improvements in this region. The significant rise in colorectal cancer cases across North American countries and increased government support for colon cancer research are expected to further propel the region’s growth in the colorectal procedure market. For instance, according to American Cancer Society, colorectal cancer ranks among the five most common cancers diagnosed in the US, with around 106,000 new colon cancer cases and 45,000 new rectal cancer cases nationwide in 2022. While older adults are more susceptible, cases are increasing among younger adults as well.

A colectomy, or colon resection surgery, is a common procedure recommended for various conditions such as bowel obstruction, bleeding, infection, ulceration from ulcerative colitis, cancer, precancerous polyps, familial polyposis, or traumatic injury. Over 600,000 colon surgeries of this nature are performed yearly in the US to treat colon diseases, with 5-year survival rates of 91% for localized colon cancer and 90% for localized rectal cancer. Despite decreasing death rates, the CDC found a small but significant increase in colorectal cancer deaths among adults aged 45-54 in 2021, leading to the recommended starting age for routine screening being lowered from 50 to 45 years. Hence aforementioned factors augment the North America as well as industry growth during the forecast period.

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Competitive Landscape

The key players in the market are Ethicon (Johnson & Johnson Services, Inc.), Medtronic, Colospan Ltd., SAFEHEAL, B. Braun Melsungen AG, Cardinal Health Inc., Boston Scientific Corporation, CooperSurgical, Inc., Olympus Corporation, Stryker Corporation, Intuitive Surgical, Inc., Cook Medical Inc (Cook Group Inc.), Karl Storz SE & Co. KG, Applied Medical Resources Corporation, Abbott Laboratories, CONMED Corporation, and Baxter International Inc., among others.

Recent Developments in the Colorectal Procedure Market:

  • In March 2022, Medtronic announced final findings from a randomized, international, multi-center study that confirmed the effectiveness of the GI Genius intelligent endoscopy module, which uses AI to detect colorectal polyps during colonoscopy, potentially helping to prevent colorectal cancer.
  • In July 2022, B Braun Medical Inc launched its new Introcan Safety IV Catheter with one-time blood control, ensuring a truly automatic passive safety device to protect clinicians. The Introcan Safety 2 helps reduce clinician and patient exposure to blood with its one-time Blood Control Septum, designed to restrict blood flow from the catheter hub after needle removal until the first connection of a Luer access device. The newly launched Introcan Safety 2 allows clinicians to experience passive needlestick prevention and a reduced risk of exposure to bloodborne pathogens when removing the introducer needle.
  • In February 2022, Safeheal closed a $42.88 million financing round led by Sifinnova Partners, a European venture capital firm, and Singapore-based medical device company Genesis Medtech. The Colovac device aims to ease digestive surgeries. The funding will help the company continue and accelerate a clinical trial named SAFE-2 in the US and Europe, which the FDA has already approved. The study aims to evaluate the safety and efficacy of the novel surgery approach.

Colorectal Procedure Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Colorectal Procedure Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future Colorectal Procedure Market potential from 2021 to 2031 in terms of revenue.
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Colorectal Procedure Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global surface disinfectants industry.

By Product

  • Endoscope
  • Electrosurgery
  • Handheld Device & Visual Systems
  • Sealing & Stapling Devices
  • Ligation Clips & Dilators & Speculas
  • Cutter & Shears
  • Accessories
  • Others

By Surgery Type

  • Right Hemicolectomy
  • Left Hemicolectomy
  • Subtotal Hemicolectomy
  • Low Anterior Resection
  • Abdomino-Perineal Resection
  • Others

By Indication

  • Colon Polyps
  • Crohn’s Disease
  • Colorectal Cancer
  • Colitis
  • Irritable Bowel Syndrome
  • Others

By End-user

  • Surgical Centers
  • Hospitals & Clinics
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players

  • Ethicon (Johnson & Johnson Services, Inc.)
  • Medtronic
  • Colospan Ltd.
  • SAFEHEAL
  • Braun Melsungen AG
  • Cardinal Health Inc
  • Boston Scientific Corporation
  • CooperSurgical, Inc.
  • Olympus Corporation
  • Stryker Corporation
  • Intuitive Surgical, Inc.
  • Cook Medical Inc (Cook Group Inc.)
  • Karl Storz SE & Co. KG
  • Applied Medical Resources Corporation
  • Abbott Laboratories
  • CONMED Corporation
  • Baxter International Inc.
Read More

Healthcare IT Market
February, 2024

Healthcare IT Market to Reach US$ 1,629.6 Bn by 2033, driven by increasing use of artificial intelligence and machine learning in healthcare coupled with rising focus on value-based care: Global Insight Services

New York, February 2024: According to a new research study by Global Insight Services (GIS), the global Healthcare IT Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 1,629.6 Billion by 2033.

Health IT (health information technology) is the area of IT involving the design, development, creation, use and maintenance of information systems for the healthcare industry. Automated and interoperable healthcare information systems will continue to improve medical care and public health, lower costs, increase efficiency, reduce errors, improve patient satisfaction, and optimize reimbursement for ambulatory and inpatient healthcare providers.

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Healthcare IT Market: Key Trends and Drivers

Pandemic-Driven Surge: Revolutionizing Healthcare through Rapid HCIT Adoption

The global healthcare surge, exacerbated by the COVID-19 pandemic, is driving the rapid adoption of Healthcare Information Technology (HCIT) solutions. With a staggering 650 million confirmed cases and 66 million deaths globally, healthcare organizations face critical shortages in beds, providers, and essential equipment. The response includes a heightened demand for capacity management solutions, telehealth, mHealth, e-prescribing, and Electronic Health Record (EHR) solutions. The pandemic has accelerated the adoption of these technologies, evident in the substantial increase in electronic prescriptions, electronic prior authorizations, and clinical direct messaging transactions. This transformative shift in healthcare practices is crucial for remote patient monitoring, especially in temporary hospitals responding to the escalating disease incidence.

The COVID-19 pandemic has caused a significant increase in healthcare needs worldwide, leading to a surge in the use of Healthcare Information Technology (HCIT) solutions. For instance, a According to data from the World Health Organization, the global tally of confirmed COVID-19 cases has surpassed 627 million, resulting in over 6.5 million deaths, healthcare facilities are struggling with shortages of beds, staff, and necessary equipment. To address these challenges, there’s a growing demand for solutions that help manage capacity, provide telehealth services, enable mobile health (mHealth), facilitate electronic prescribing, and manage Electronic Health Records (EHR).

Healthcare IT Market: Restraints & Challenges

The limited availability of skilled IT professionals in developing countries is impeding the widespread adoption of Healthcare Information Technology (HCIT) solutions, due to the significant cost challenges.. Maintenance and software costs surpass the initial software expenses, with recurrent expenditures for upgrades constituting nearly 30% of the total ownership cost. The intangible nature of organizational impacts and benefits from HCIT, coupled with the extended realization period, further hinders the market growth. Additionally, In emerging economies, implementing HCIT requires significant upfront investment in infrastructure, which discourages smaller healthcare organizations from getting involved, particularly in regions like Asia-Pacific and Latin America.

Healthcare IT Market Report Findings

https://www.globalinsightservices.com/reports/healthcare-it-market/

The healthcare provider segment is likely to hold a dominant Healthcare IT Market share and grow at a substantial CAGR during the forecast period.

By products & services, the Healthcare IT market is segmented into healthcare provider solutions, healthcare payer solutions and HCIT outsourcing services. The healthcare provider solutions segment held the largest market share in 2023 and is expected to grow at a significant CAGR over the forecast period. A health care provider is an individual health professional or a health facility organization licensed to provide health care diagnosis and treatment services including medication, surgery and medical devices. Healthcare providers often receive payments for their services rendered from health insurance providers.

The anticipated highest growth in the healthcare IT industry’s product and service segment is expected to be driven by healthcare provider solutions. This growth is primarily attributed to government initiatives aiming to enhance patient care quality and the imperative to increase the overall efficiency of healthcare services.. The rising demand for improved patient safety and care, stringent regulations related to healthcare provider solutions, and the growing necessity for integrated healthcare systems are key factors fueling the expansion of the healthcare provider solutions. Hence aforementioned factors will propels the healthcare provider solutions segment growth as well market growth during the forecast period.

The services segment is likely to hold a dominant Healthcare IT Market share and grow at a substantial CAGR during the forecast period.

By component, the Healthcare IT market is segmented into Services, Software, and Hardware. The Services segment held the largest market share in 2023 and is expected to grow at a significant CAGR over the forecast period. In terms of growth, the healthcare IT services industry is influenced by crucial elements. Technological advancements, particularly the adoption of EHR and the increasing demand for telehealth solutions, play a pivotal role. Regulatory initiatives are propelling the adoption of digital health, and there’s a growing emphasis on interoperability to facilitate seamless information exchange. The rising demand for robust data analytics, cybersecurity measures, and efficient healthcare management systems further contributes to the sector’s expansion. However, challenges persist, including interoperability difficulties and cybersecurity threats due to the sensitive nature of healthcare data, will hinders the segment as well as industry growth during the forecast period.

The healthcare provider as end-use segment is likely to hold a dominant Healthcare IT Market share and grow at a substantial CAGR during the forecast period.

By end-users, the Healthcare IT market is segmented into healthcare providers, and healthcare payers. The Healthcare provider solutions segment held the significant market share in 2023 and is expected to grow at a significant CAGR over the forecast period.  Healthcare providers refer to individuals or organizations involved in delivering medical services or healthcare. These entities play a crucial role in maintaining and improving the health of individuals or communities. This is attributed to factors such as stringent government regulations mandating technological integration and the imperative to enhance patient care alongside improving operational efficiency. The growth of this segment is further fueled by an upsurge in the number of patients, hospitals, and ambulatory care centers. Additionally, increasing expansion of hospitals in emerging countries plays a significant role in propelling the hospital segment growth, thereby augmenting industry growth.

The North America region is estimated to exhibit the highest growth rate during the Healthcare IT Market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World.  North America dominated the Healthcare IT market capturing a significant market share in 2023. This is owing to the increase in hospital admissions, a growing patient pool, and the influential presence of leading industry players. Further, rising investments in healthcare infrastructure development, addressing unmet medical needs, is expected to fuel market expansion. Widespread adoption of healthcare IT solutions, stringent healthcare quality regulations, and the urgent need to control escalating healthcare costs through IT solutions contribute to North America’s dominance in the global healthcare IT market. However, growth in this sector is not without challenges, including interoperability issues, cybersecurity threats, and the complexity of regulatory compliance. Amid these challenges, emerging trends such as telehealth adoption, data analytics integration, and a focus on interoperability standards present new opportunities for innovation and advancement in the North America healthcare IT landscape.

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Competitive Landscape

The key players in the market are Optum (US), Cerner Corporation (US), Cognizant (US), Change Healthcare (US), Philips (US), Epic Systems Corporation (US), Dell Technologies (US), Allscripts (US), Athenahealth (US), and GE Healthcare (US), among others.

Recent Developments in the Healthcare IT Market:

  • In October 2022, Optum completed the acquisition of Change Healthcare, a move aimed at streamlining core clinical, administrative, and payment processes to enhance overall efficiency, reduce costs, and improve the experience for providers and payers. The acquisition, initially announced in 2021, is anticipated to strengthen connections in the healthcare ecosystem.
  • In June 2022, Cerner partnered with the Hazelden Betty Ford Foundation, leveraging Oracle’s Cerner EHR and health’s digital therapeutic distribution platform. This collaboration facilitated personalized patient care by enabling clinicians to assign digital content, including therapeutic education and exercises, through the EHR’s patient portal.
  • In March 2022, Cognizant collaborated with Microsoft to introduce an innovative digital health solution, focusing on enhancing remote patient monitoring and virtual health. The solution utilizes various devices, such as smartwatches, blood pressure monitors, and glucose meters, to collect and transmit patient health data to providers, ultimately improving medical care.

Healthcare IT Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Healthcare IT Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future Healthcare IT Market potential from 2021 to 2031 in terms of revenue.
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Healthcare IT Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global surface disinfectants industry.

Global Healthcare IT Market Segmentation

By Products & Services

 

  • Healthcare Provider Solutions
    • Clinical Solutions
    • Non-Clinical Healthcare IT Solutions
  • Healthcare Payer Solutions
    • Claims Management Solutions
    • Population Health Management Solutions
    • Pharmacy Audit and Analysis Solutions
    • Payment Management Solutions
    • Customer Relationship Management Solutions
    • Member Eligibility Management Solutions
    • Fraud Analytics Solutions
    • Provider Network Management Solutions
  • HCIT Outsourcing Services
    • IT Infrastructure Management Services
    • Payer HCIT Outsourcing Services
    • Provider HCIT Outsourcing Services
    • Operational HGIT Outsourcing Services

By Components

  • Services
  • Software
  • Hardware

By End User

  • Healthcare Providers
    • Hospitals
    • Ambulatory Care Centers (Outpatient Settings)
    • Home Healthcare Agencies & Assisted Living Facilities
    • Diagnostic & Imaging Centers
    • Pharmacies
  • Healthcare Payers
    • Private Payers
    • Public Payers

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

 Key Players

  • Optum (US)
  • Cerner Corporation (US)
  • Cognizant (US)
  • Change Healthcare (US)
  • Philips (US)
  • Epic Systems Corporation (US)
  • Dell Technologies (US)
  • Allscripts (US)
  • athenahealth (US)
  • GE Healthcare (US)
Read More

France & Spain Electron Microscope Market
February, 2024

New York, February 2024: According to a new research study by Global Insight Services (GIS), the France & Spain Electron Microscope Market is expected to grow rapidly over the next 10 years and it is expected to reach a CAGR 5.1% during the forecast period.

Electron microscopes are microscopes that generate radiation from an accelerated electron beam. A method for producing high resolution photographs of both biological and non-biological materials is electron microscopy (EM). It is employed in biomedical research to examine the intricate composition of organelles, tissues, cells, and macromolecular complexes. The fact that electrons, which have extremely short wavelengths, are used as the source of illuminating radiation leads to the great resolution of EM pictures. To address particular issues, electron microscopy is employed in combination with a range of auxiliary methods (such as thin sectioning, immuno-labeling, and negative staining). Important details on the anatomical underpinnings of cell activity and illness are revealed by EM imaging.

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France & Spain Electron Microscope Market: Market Drivers and Trends

Increased Focus on Nanotechnology and Regenerative Medicine

The burgeoning interest in nanotechnology and regenerative medicine is proving to be a potent catalyst propelling the electron microscope market forward in France and Spain. These scientific domains, characterized by their focus on precision and microscopic exploration, necessitate advanced imaging technologies for groundbreaking research and applications.

In nanotechnology, where materials and systems are manipulated at the nanoscale, electron microscopes play a pivotal role. Researchers in France and Spain increasingly rely on these sophisticated instruments to delve into the intricacies of nanomaterials, enabling a deeper understanding of their properties and behavior. This heightened focus drives the demand for cutting-edge electron microscopes that provide high-resolution imaging essential for nanotechnology research. Furthermore, establishing a new electron microscope facility will boost the study of novel materials and structural biology. For instance, in February 2023, the Joint Electron Microscopy Centre at ALBA (JEMCA) was established as a new facility inside the ALBA Synchrotron building that provides electron microscopy services to the scientific community. This is the only facility in Spain that permits the use of auxiliary instruments to the synchrotron light source to further the fields of materials science and structural biology research.

Technological Advancements in Electron Microscopes

The electron microscope market in France and Spain is witnessing promising opportunities spurred by continuous technological advancements in electron microscopy. These innovations enhance the capabilities of electron microscopes and open up new avenues for applications across various scientific and industrial domains. For instance, the use of SEM-EDX (Scanning Electron Microscopy Energy Dispersive X-ray) as a tool for failure analysis and inspection. It has multiple uses, including failure analysis, corrosion analysis, condition assessment and debris analysis, coating analysis, reverse engineering, and contamination analysis.

One of the key technological advancements is the improvement in resolution capabilities. High-resolution electron microscopes enable researchers in France and Spain to explore structures at the atomic and molecular levels with unprecedented detail. This advancement is particularly crucial in materials science, where understanding nanoscale systems is essential for developing advanced materials with tailored properties.

France & Spain Electron Microscope Market: Market Restraints and Challenges

High Production and Maintenance Costs

While the electron microscope market in France and Spain is witnessing notable growth, it faces challenges due to high production and maintenance costs, which are restraining factors for broader adoption across various sectors.

Firstly, the initial investment required for acquiring electron microscopes, which are highly sophisticated and technologically advanced instruments, can be substantial. This poses a financial barrier for smaller research institutions, laboratories, and educational facilities, limiting their ability to access these cutting-edge technologies. The significant upfront costs may deter potential users, impacting the overall market penetration. For instance, Cryo-electron microscopy, or cryo-EM, uses an electron beam to probe a flash-frozen solution to create a 3D image from 2D pictures of individual molecules. This technique helps scientists understand the structure of proteins. The high cost of high-energy microscopes has hindered the method’s implementation; nevertheless, researchers are working to develop smaller, less expensive, lower-energy devices.

Lack of Professional Expertise and Complexity in Equipment Handling

The electron microscope market in France and Spain encounters challenges due to a dual hindrance, including the lack of professional expertise and the complexity involved in handling these sophisticated instruments. This combination acts as a restraining factor, impeding the seamless adoption and utilization of electron microscopes across various sectors.

Firstly, the operation and maintenance of electron microscopes demand a high level of specialized knowledge and technical expertise. The need for more professionals with the requisite skills in France and Spain poses a significant barrier. Effectively handling electron microscopes requires a deep understanding of vacuum systems, electron optics, and complex imaging processes. The limited availability of trained personnel capable of operating and maintaining these intricate instruments hampers the optimal utilization of electron microscopy technology.

France & Spain Electron Microscope Market Report Findings

https://www.globalinsightservices.com/reports/france-spain-electron-microscope-market/

The Scanning Electron Microscope (SEM) segment is likely to hold the major share of the market in 2023

By Type, the France & Spain Electron Microscope Market is segmented into Scanning Electron Microscope (SEM), Transmission Electron Microscope (TEM), and Others. The Scanning Electron Microscope (SEM) segment is anticipated to dominate the market during the forecast period. The segment was valued at USD 70.2 million in 2023, and it is anticipated to grow further to USD 116.8 million by 2033, at a CAGR of 5.5% during the forecast period. SEM, or Scanning Electron Microscopy, is a powerful imaging technique that examines high-resolution surfaces. Unlike traditional optical microscopes, SEM employs electron beams to create detailed images. Remarkably, SEM’s ability to capture intricate surface details makes it invaluable in various scientific disciplines, from materials science to biology, providing a non-invasive and detailed view of the micro-world. The efficacy of Scanning Electron Microscopy (SEM) is propelled by several key factors, making it a versatile and powerful imaging technique. First and foremost, SEM utilizes electron beams instead of light, providing a shorter wavelength. This feature allows for significantly higher resolution and magnification, surpassing the limitations of traditional optical microscopes. Electrons enable SEM to capture detailed surface structures at a scale that would be otherwise unattainable.

The Life Sciences segment is likely to hold the major share of the market in 2023

Based on Application, the France & Spain Electron Microscope market is segmented into Life Sciences, Material Sciences, Semiconductors, Nanotechnology, and Others. The Life Sciences segment is anticipated to dominate the market during the forecast period with 45.3 million in 2023 and 67.2 million in 2033 with a 4.2% CAGR. Besides, the Nanotechnology segment is anticipated to witness the fastest growth during the forecast period. Electron microscopes are employed in cell biology and biomedical sciences to examine the three-dimensional architecture of tissues and cells and the molecular mechanisms behind illness. It is vital in expanding our understanding of viruses in their natural environments. Consequently, this information is helpful in the process of creating novel therapies. Electron microscopy (EM) is also beneficial in neuroimaging, where it is frequently employed to facilitate image capture, cell preparation, and image processing methods, including object tracking and DTI analysis.

The Industries segment is likely to hold the major share of the market in 2023

On the basis of End User, the France & Spain Electron Microscope market is segmented into Industries, Academic and Research Institutes, and Others. The Industries segment dominated the market with 78.1 million in 2023 with a 5.0% CAGR. Besides, the  Academic and Research Institutes segment is anticipated to witness the fastest growth during the forecast period. EM has been quite beneficial across several sectors. Examining solder junctions and looking for potential leaks or porosity helps create new products. It is particularly crucial for the production of semiconductors and several other devices. Additionally, because they are so important, electron microscopes are utilized extensively in the food, pharmaceutical, automotive, metals, and energy storage sectors. They make it possible to research different materials’ composition, characteristics, and endurance, which helps engineers create more quickly, accurately, and effectively. In many sectors, failure analysis and process control are standard practices.

The France country is accounted for the majority of market share in 2023

Country-wise, the market is analyzed across France and Spain. France was the highest revenue-generating country in 2023, and Spain is projected to exhibit the highest CAGR with 6.0% throughout the study period. In recent years, microscopy has undergone significant technical advancements, such as digitization, live-cell imaging, super-resolution, and high throughput approaches. These developments have aided in reducing product and testing costs. Recent advances in microscope technology include expansion microscopes, Scanning Helium Microscopes (SHeM), multi-view microscopes, and integrated microscopy techniques. For instance, In November 2023, Oxford Instruments WITec unveiled an alpha300 Raman microscope explicitly designed for semiconductor R&D. It has a large-area scanning stage, wafer chuck choices, and an intelligent workflow manager to help with measurement efficiency. Thus, these aforementioned factors are anticipated to boost the France electron microscope market.

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Competitive Landscape

Some of the key players in the France & Spain Electron Microscope Market are Bruker, Zeiss Group, The Carlyle Group (TESCAN GROUP, A.S.), AMETEK.Inc. (EDAX and Gatan), Hitachi High-Tech Corporation, Thermo Fisher Scientific Inc., JEOL Ltd., Nikon Metrology NV, Eden Instruments, Synergie 4, Aname, S.L., Scientific, Danaher Corporation (Leica Microsystems), Oxford Instruments (WITec), Isaza Scientific, Quantum Design Inc., and Irida Ibérica, S.L.

France & Spain Electron Microscope Market: Recent Developments
  • In November 2023, Oxford Instruments WITec has unveiled an alpha300 Raman microscope designed specifically for semiconductor R&D. It has a large-area scanning stage, wafer chuck choices, and an intelligent workflow manager to help with measurement efficiency.
  • In October 2023, Leica Microsystems has officially opened its US$60 million (S$82 million) medical production and research and development center in Singapore. Singapore, as one of Leica’s four worldwide production facilities, is primarily responsible for the production of surgical microscopes for export to global markets, accounting for 40% of the company’s total income. The new facility combines product research and manufacture under one roof, and it is intended to more than quadruple the company’s worldwide production output of surgical microscopes for international export. In addition to surgical microscopes, the facility will manufacture industrial microscopes.
  • In October 2023, The Hysitron TI 990 TriboIndenter® from Bruker Corporation has been released, bringing improved levels of performance, automation, and productivity to nanomechanical testing. The TI 990 is a substantial upgrade to Bruker’s industry-leading TriboIndenter platform, with additional measurement modes, 2X quicker testing throughput, and a bigger testing surface of 200mm x 300mm.
  • In October 2023, The UMass Chan Medical School’s Sanderson Center for Optical Experimentation (SCOPE) and Leica Microsystems, Inc. have teamed to develop the Partner in Microscopy facility at UMass Chan. This initiative intends to assist the Medical School’s efforts as a world-leading academic and scientific institution by training the next generation of scientists and engineers and generating new scientific discoveries.
  • In July 2023, ZEISS and the European Molecular Biology Laboratory (EMBL) have formed a long-term strategic relationship. The partnership intends to bridge the gap between the development of early-stage imaging technologies and their use in life science research. Users of the EMBL Imaging Centre and associated EMBL imaging services will benefit from ZEISS’s cutting-edge microscopy technology and knowledge as a result of this joint approach. At the same time, EMBL research and initiatives by Imaging Centre users will give ZEISS crucial insights into new applications and market-testing prospects for their most recent technological advancements.
France & Spain Electron Microscope Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current France & Spain Electron Microscope Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the France & Spain Electron Microscope Market in terms of revenue ($Million) and volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the France & Spain Electron Microscope industry.
  • A thorough analysis of market trends and restraints is provided.
  • The France & Spain Electron Microscope Market Study comprises an analysis of 2 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the France & Spain Electron Microscope Market along with current trends and future estimations to depict imminent investment pockets. The overall France & Spain Electron Microscope industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the France & Spain Electron Microscope Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segmentation

By Type

  • Scanning Electron Microscope (SEM)
  • Transmission Electron Microscope (TEM)
  • Others

By Application

  • Life Sciences
  • Material Sciences
  • Semiconductors
  • Nanotechnology
  • Others

By End-User

  • Industries
  • Academic and Research Institutes
  • Others

By Country

  • France
  • Spain
Key Players
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Electron Microscope Market
February, 2024

New York, February 2024: According to a new research study by Global Insight Services (GIS), the electron microscope market is expected to grow rapidly over the next 10 years to reach a value of more than USD 6.8 billion by 2033.

The electron microscope market was valued at USD 3.1 billion in 2023 and it is anticipated to grow up to USD 6.8 billion by 2033, at a CAGR of 8.3% during the forecast period.

Microorganisms, cells, big molecules, biopsy samples, metals, and crystals are just a few of the biological and inorganic specimens that can be studied under an electron microscope to learn more about their ultrastructure. For quality assurance and failure analysis in the workplace, electron microscopes are frequently employed. Modern electron microscopes record the images with specialized digital cameras and frame grabbers to create electron micrographs.

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Global Electron Microscope Market: Key Drivers

Digitization, live-cell imaging, ultra-high resolution, and high throughput techniques are examples of technological developments in microscopy. This progress lowers the price of the product and testing. Recent advancements in microscope technology include the development of expansion microscopes, scanning helium microscopes (SHeM), multi-view microscopes, and integrated microscopy processes. The most recent development in the market for electron microscopy and sample preparation is digital microscopy. Enhanced image quality and increased precision provided by digital imaging result in fewer distorted images and better sample viewing. Digital microscopy has been more widely adopted as a result of the introduction of entire slide scanning technologies. In R&D, forensics, quality control, and failure analysis, these devices provide detailed imaging of specimens with 2D and 3D images.

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The scanning electron microscope segment is likely to hold the largest size of the electron microscope market

The key factors such as microscopes create 3-dimensional images with a high depth of field, high resolution (less resolution than TEMs), and information on the topography, morphology, and composition of objects. As a result, they are crucial research instruments in the fields of metallurgy, gemology, medical and forensic sciences, and biological sciences are boosting the growth of the market.

The life science segment is likely to hold the major share of the market

The rising prevalence of chronic diseases leads to increased R&D expenditure and demand for the digital microscope in the areas of life sciences and medicines are some factors boosting the growth of the market.

The industries segment is anticipated to hold the majority of the share of the market

The key factors boosting the growth of the segment are the electronic industry uses electron microscopes for high-resolution imaging in the development and manufacturing process of semiconductors and other electronics. Other industries that commonly use electron microscopes as a part of their production process include aeronautics, automotive, apparel, and pharmaceutical. An electron microscope can also be applied in industrial failure analysis and process control of diverse industries.

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Competitive Landscape

The key players studied in the global electron microscope market are Bruker, Zeiss Group, The Carlyle Group (TESCAN GROUP, A.S.), AMETEK.Inc. (EDAX and Gatan), Hitachi High-Tech Corporation, Thermo Fisher Scientific Inc., JEOL Ltd., Nikon Metrology NV, Eden Instruments, Synergie 4, Aname, S.L., Scientific, Danaher Corporation (Leica Microsystems), Oxford Instruments (WITec), Isaza Scientific, Quantum Design Inc., and Irida Ibérica, S.L. among others.

Global Electron Microscopes Market Segmentation

By Product Type

  • Transmission Electron Microscopes
  • Scanning Electron Microscope
  • Others

By Application

  • Semiconductors
  • Material Sciences
  • Life Sciences
  • Earth Sciences

By End User

  • Industries
  • Academic & Research Institutes
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa
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Global Electron Microscopes Market: Recent Developments
  • In November 2023, Oxford Instruments WITec unveiled an alpha300 Raman microscope designed specifically for semiconductor R&D. It has a large-area scanning stage, wafer chuck choices, and an intelligent workflow manager to help with measurement efficiency.
  • In October 2023, Leica Microsystems officially opened its US$60 million (S$82 million) medical production and research and development center in Singapore. Singapore, as one of Leica’s four worldwide production facilities, is primarily responsible for the production of surgical microscopes for export to global markets, accounting for 40% of the company’s total income. The new facility combines product research and manufacture under one roof, and it is intended to more than quadruple the company’s worldwide production output of surgical microscopes for international export. In addition to surgical microscopes, the facility will manufacture industrial microscopes.
  • In October 2023, The Hysitron TI 990 TriboIndenter® from Bruker Corporation was released, bringing improved levels of performance, automation, and productivity to nanomechanical testing. The TI 990 is a substantial upgrade to Bruker’s industry-leading TriboIndenter platform, with additional measurement modes, 2X quicker testing throughput, and a bigger testing surface of 200mm x 300mm.
  • In October 2023, The UMass Chan Medical School’s Sanderson Center for Optical Experimentation (SCOPE) and Leica Microsystems, Inc. have teamed to develop the Partner in Microscopy facility at UMass Chan. This initiative intends to assist the Medical School’s efforts as a world-leading academic and scientific institution by training the next generation of scientists and engineers and generating new scientific discoveries.
  • In July 2023, ZEISS and the European Molecular Biology Laboratory (EMBL) formed a long-term strategic relationship. The partnership intends to bridge the gap between the development of early-stage imaging technologies and their use in life science research. Users of the EMBL Imaging Centre and associated EMBL imaging services will benefit from ZEISS’s cutting-edge microscopy technology and knowledge as a result of this joint approach. At the same time, EMBL research and initiatives by Imaging Centre users will give ZEISS crucial insights into new applications and market-testing prospects for their most recent technological advancements.
  • In June 2022, Bruker, an American manufacturer of scientific instruments announced remarkable advancements in multi-omic tissue imaging and highly multiplexed spatial proteomics at a large field of view. Moreover, key enhancements were introduced for mass spectrometry imaging MALDI HiPLEX-IHC following a strategic partnership of Bruker’s with AmberGen.
  • In May 2022, Hitachi High-Tech Corporation announced the establishment of its “Advanced-Technology Innovation Center Naka (ACN)” in Hitachinaka, which will serve as a demonstration and collaboration center. It will improve customer cooperation to boost integrated solution development in electron microscopy and probe microscope-related sectors.
  • December 2021, Thermo Fisher Scientific Inc., and American supplier of PPD, Inc. for USD 17.4 billion. The acquisition of PPD will allow Thermo Fisher to provide a full range of world-class clinical development services, from scientific discovery to analyzing safety, health-care outcomes, efficacy, managing clinical trial logistics, along with drug development and manufacturing.
Electron Microscope Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Electron Microscope Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Electron Microscope Market in terms of revenue ($Million) and volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Electron Microscope industry.
  • A thorough analysis of market trends and restraints is provided.
  • The Electron Microscope Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Electron Microscope Market along with current trends and future estimations to depict imminent investment pockets. The overall Electron Microscope industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Electron Microscope Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segments

By Product Type

  • Transmission Electron Microscopes
  • Scanning Electron Microscope
  • Others

By Application

  • Semiconductors
  • Material Sciences
  • Life Sciences
  • Earth Sciences

By End User

  • Industries
  • Academic & Research Institutes
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa
Key Players
Read More

Biological and Chemical Indicators Market
February, 2024

New York, February 2024: According to a new research study by Global Insight Services (GIS), the Biological and Chemical Indicators Market is expected to grow rapidly over the next 10 years and it is expected to reach a CAGR 8.4% during the forecast period.

Biological and chemical indicators are crucial tools in various fields, serving to monitor and validate sterilization processes, particularly in healthcare settings.

Biological indicators involve the use of living organisms such as spores or enzymes to assess the efficacy of sterilization methods. These organisms are chosen for their resistance to specific sterilization conditions. Following exposure to the sterilization process, the survival or inactivation of these biological indicators indicates the success or failure of the procedure.

Chemical indicators, on the other hand, rely on chemical reactions to confirm exposure to sterilization conditions. They typically involve the use of indicator strips, labels, or inks that change color or exhibit a visible response when exposed to specific sterilizing agents, indicating that the desired conditions have been met. Chemical indicators provide a quick visual confirmation of the sterilization process without relying on the survival or inactivation of living organisms.

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Global Biological and Chemical Indicators Market: Market Drivers and Trends

Rising need for sterilization of medical devices and equipment in healthcare settings and the increasing adoption of automation in sterilization procedures

In healthcare settings, the demand for sterilization of medical devices and equipment has surged significantly. This is primarily due to the growing importance of preventing infections and ensuring patient safety. Healthcare facilities are increasingly knowing the important role of sterilization in maintaining hygienic environments and reducing the risk of cross-contamination. Additionally manufacturer increasing their focis on advanced product launch which will enhance the demand as well as market growth. For instance, in July 2020, 3M company launch new 3M Attest Mini Auto-reader 490M enables dentists to quickly test and monitor sterilizers in-house, providing results in 24 minutes

Moreover, the adoption of automation in sterilization procedures has become a key trend in recent years. Automation not only enhances efficiency but also ensures consistency and accuracy in the sterilization process. It minimizes the likelihood of human error and helps healthcare providers meet stringent regulatory requirements. For instance, Cold plasma sterilization is a cutting-edge technology poised to revolutionize sterilization processes in healthcare settings. By utilizing ionized gas, it effectively eradicates microorganisms, offering rapid sterilization cycles ideal for sensitive medical instruments and emergencies. This innovative approach represents the future of sterilization in the medical industry, promising enhanced efficiency and safety in healthcare facilities. Cold plasma sterilization, alongside other advanced sterilization technologies, contributes significantly to the growth of the biological and chemical indicator market by driving demand for reliable monitoring solutions. As new sterilization methods emerge, there is an increased need for indicators to verify their effectiveness in eliminating microorganisms.

Increasing prevalence of Hospital Acquired Infections (HAIs)

The increasing prevalence of Hospital Acquired Infections (HAIs) will drive significant growth in the biological and chemical indicator market. For instance, according to the European Center for Disease Prevention and Control, the frequency of HAI in Africa ranges between 2.5% and 14.8%, which is more than double the prevalence in Europe on average. Also according to NCBI study, the rate of HAIs is increasing by 0.06 percent annually. A February 2023 study from the National Center for Biotechnology Information (NCBI) disclosed that the collective incidence of Healthcare-Associated Infections (HAIs) in Southeast Asia stood at 21.6% (95% CI: 15.5 – 29.1%), demonstrating considerable heterogeneity with an I2 statistic of 100%. Indonesia exhibited the highest prevalence, reaching 30.4%, while Singapore reported the lowest prevalence rate at 8.4%.

As healthcare facilities rising efforts to improve patient safety and reduce the risk of HAIs, there’s a growing focus on implementing sterilization and disinfection protocols. Biological and chemical indicators play vital roles in this condition, enabling healthcare providers to validate the effectiveness of sterilization processes and ensure compliance with regulatory standards.

Global Biological and Chemical Indicators Market: Market Restraints and Challenges

Stringent Security Protocols in Embedded Devices

The low penetration of sterilization monitoring in developing countries poses a significant hindrance to the expansion of the market for sterilization indicator products. In contrast to developed nations, where these products are widely utilized to monitor the sterilization process in various facilities, the procedure remains inconsistent in low- and middle-income countries (LMICs). The absence of strict policies for sterilization monitoring and routine evaluations of sterilizers in developing nations contributes to a lack of adherence to regulatory guidelines and sterilization norms.

Additionally, healthcare facilities in LMICs, including hospitals, clinics, nursing homes, laboratories, and local healthcare manufacturers, often opt to forego the use of sterilization indicators as a cost-cutting measure. This cost-cutting mentality in healthcare settings can have severe consequences, leading to untreated post-operative complications such as Surgical Site Infection (SSI). Ignorance of standardization procedures further exacerbates the problem, negatively impacting the demand for sterilization indicator tapes. The consequences of inadequate sterilization practices were highlighted in a reported incident in Hyderabad, where a C-section death in a hospital was potentially linked to infection resulting from insufficient sterilization of dressing materials like gauze pads used post-surgery. These factors collectively contribute to a limited demand for sterilization indicator tapes in LMICs and restrain the growth of the biological and chemical indicator market.

Safety concern related to ethylene oxide sterilization

The ethylene oxide (EO) sterilization process has long been recognized as an effective method for sterilizing medical devices, pharmaceuticals, and other healthcare products. However, safety concerns surrounding EO sterilization have emerged as a significant challenge for the growth of both the biological and chemical indicator markets. Ethylene oxide is a highly reactive and flammable gas classified as a carcinogen by the International Agency for Research on Cancer (IARC). Prolonged exposure to EO can pose serious health risks to workers involved in the sterilization process, including respiratory issues, skin irritation, and potential long-term health effects such as cancer. As a result, regulatory agencies have imposed stringent guidelines and regulations on EO sterilization facilities, requiring extensive safety measures and monitoring to mitigate risks to human health and the environment.

Furthermore, the use of EO as a sterilizing agent raises environmental concerns due to its potential for air and water pollution. Ethylene oxide emissions from sterilization facilities can contribute to air quality degradation and pose risks to nearby communities. Additionally, the disposal of EO residues and by-products presents challenges in waste management and environmental sustainability.

Global Biological and Chemical Indicators Market Report Findings

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The self-contained biological indicators (SCBI) segment is likely to hold the major share of the market in 2023

The self-contained biological indicators (SCBI) segment value was USD 395.3 million in 2023 and is anticipated to reach USD 827.3 million in 2033, growing at a rate of 7.4% from 2024 to 2033. Based on the type of biological indicator, the market is categorized into self-contained biological indicators (SCBI), spore strips, spore suspensions, and others. Further, the self-contained biological indicators (SCBI) segment is classified into rapid fluorescence systems and others. SCBIs offer a robust growth factor due to their contained environment, which includes a nutrient-rich medium and a suitable temperature range for microbial proliferation. Within this enclosed system, spores encounter optimal conditions for germination and subsequent growth, allowing for an accurate assessment of sterilization processes. The controlled environment ensures consistent and reliable results, making SCBIs a preferred choice for validation and monitoring in various sterilization procedures.

Spore strips facilitate microbial growth by providing a substrate coated with spores, typically Bacillus or Geobacillus species. The growth factor lies in their simplicity and versatility, as spore strips can be easily deployed in diverse settings for monitoring sterilization efficacy. Their small size and ease of use enable convenient placement in sterilization chambers or equipment, where spores can proliferate under favorable conditions, reflecting the effectiveness of sterilization protocols through visible growth.

The Type 4 Chemical Indicator (Multi-Variable) segment is likely to hold the major share of the market in 2023

The type 1 chemical indicator (process) segment was USD 83.3 Million in 2023 and is anticipated to reach USD 195.0 Million in 2033, growing at a rate of 8.5% from 2024 to 2033. There are multiple types of chemical indicators, ranging from Type 1 to Type 6. The larger the number, the more sterilization parameters are monitored. Based on chemical indicators type, the market is segmented into type 1 chemical indicator, type 2 chemical indicator, type 4 chemical indicator, type 5 chemical indicator, and type 6 chemical indicator. ISO 11140-1:2014 organizes chemical indicators intended for autoclaves and sterilizers into different types:

  • Type 1: Process Indicators
  • Type 2: Indicators for Specific Uses
  • Type 3 Chemical Indicator (Single Variable)
  • Type 4: Multi-Variable Indicators
  • Type 5: Integrating Indicators (Integrators)
  • Type 6: Emulating Indicators (Cycle Verification Indicators)

The demand for chemical indicators in the healthcare industry continues to rise as stringent sterilization standards and infection prevention protocols drive the need for reliable monitoring solutions. As healthcare facilities prioritize patient safety and regulatory compliance, there’s a growing requirement for advanced chemical indicators that offer comprehensive monitoring capabilities across various sterilization modalities. The market seeks indicators that not only confirm exposure to the sterilization process but also provide assurance of critical parameters such as time, temperature, and sterilant concentration.

The steam segment is likely to hold the major share of the market in 2023

The Steam sterilization segment size was USD 510.0 Million in 2023 and is anticipated to reach USD 1,116.8 Million in 2033, growing at a rate of 7.9% from 2024 to 2033. Steam sterilization, also known as autoclaving, has been a cornerstone in the field of sterilization for decades. Its growth factor lies in its reliability, effectiveness, and wide applicability across various industries including healthcare, laboratories, and food processing. The method employs high-pressure steam to kill microorganisms, spores, and pathogens, making it one of the most efficient sterilization techniques available. With advancements in technology, the integration of steam sterilization processes into automated systems has streamlined workflows, reduced human error, and enhanced overall efficiency. Moreover, the eco-friendliness of steam sterilization, as it utilizes water as its primary agent without leaving harmful residues, aligns well with the growing emphasis on sustainable practices in modern industries.

Hydrogen peroxide sterilization represents a newer, innovative approach to sterilization that has gained traction in recent years. Its growth factor stems from its ability to provide an alternative to traditional methods like steam sterilization, especially for heat-sensitive materials and equipment. Hydrogen peroxide vapor is highly effective in deactivating a wide range of microorganisms, including bacteria, viruses, and fungi. The method offers advantages such as shorter cycle times, lower temperatures, and reduced potential for material degradation compared to heat-based methods. Additionally, the compatibility of hydrogen peroxide sterilization with a variety of materials, including plastics and electronics, makes it particularly suitable for industries where maintaining material integrity is crucial. As industries continue to seek efficient and versatile sterilization solutions, hydrogen peroxide sterilization is poised for further growth and adoption across diverse sectors.

The biopharma industry segment is likely to hold the major share of the market in 2023

The application segment is anticipated to at a CAGR of 8.4% during the forecast period. The biopharma industry segment size was USD 477.4 Million in 2023 and is anticipated to reach USD 1,079.2 Million in 2033, growing at a rate of 8.2% from 2024 to 2033. The biopharma industry is booming due to increased demand for innovative drugs and therapies, fueled by advancements in biotechnology and personalized medicine. Hospitals and clinics are expanding to meet growing healthcare needs, driven by population growth, aging demographics, and advancements in medical technology.

Ambulatory surgical centers are growing rapidly, thanks to minimally invasive techniques, outpatient preferences, and value-based care models. Diagnostic labs are thriving due to rising disease burden, increased awareness, and technological advancements. Research labs are experiencing steady growth due to investments in biomedical research, collaborations, and advancements in scientific technologies.

The North America region is accounted for the majority of market share in 2023

The global market size was valued at USD 912.0 million in 2023 and it is anticipated to grow further to USD 2,111.3 million by 2033, at a CAGR of 8.4% during the forecast period. The global biological and chemical indicator market is poised for robust growth, driven by several key factors. Increasing research and development activities, coupled with stringent government regulations, are catalyzing the market expansion worldwide. Particularly in regions such as North America and Europe, where the healthcare sector is highly regulated, the demand for advanced sterilization processes is on the rise. Moreover, the escalating prevalence of chronic diseases like asthma, diabetes, and cancer is fueling the need for medicines and medical devices, further propelling the market growth in these regions. In emerging economies such as India, the sterility indicators market is experiencing significant traction. Rising R&D activities in the pharmaceutical and biotechnology sectors are driving the demand for various sterilization processes, with steam sterilization emerging as a prominent method in the pharmaceutical industry.

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Competitive Landscape

Some of the key players in Biological and Chemical Indicators Market are Steris, 3M, Mesa Labs, Getinge AB, Ecolab, Propper Manufacturing Co, Excelsior Scientific, Terragene, North American Science Associates, Llc (Namsa), Tuttnauer (Fortissimo Capital), ASP Global Manufacturing Gmbh (Fortive Corporation), Matachana Group, Liofilchem, Andersen, Steelco (Miele), Nelson Laboratories (Sotera Health), CISA Group (Faper Group), Shinva Medical Instrument,and Hubei CFULL Medical Technology..

Global Biological and Chemical Indicators Market: Recent Developments
  • In October 2023, Mesa Laboratories, Inc., a global leader in the design and manufacture of life science equipment and key quality control solutions, announces the successful purchase of GKE-GmbH’s sterilization indicators business and SAL GmbH, a recognized independent testing lab. Mesa has also signed a formal deal to buy GKE’s Chinese sales business, Beijing GKE Science & Technology Co. LTD (“GKE China”). The overall purchase price for the three firms is €85 million (€5 million for GKE China), subject to standard purchase price modifications and holdbacks. These three entities are together known as “GKE”.   The all-cash transactions were or will be financed using profits from our credit facility and cash on hand.
  • In July 2023, Steelco launches new NCG sensor, the NCG sensor monitors the precise value of non-condensable gases (NCGs) in the chamber in real-time throughout each sterilization procedure, allowing operators to perform the most reliable and efficient steam sterilization treatments conceivably.
  • In February 2023, Cisa Group will participate in Caserta as a partner of the Italian Association of Sterilization Operators (AIOS). Cisa Group has confirmed its support for AIOS, one of the most prominent associations in the Italian healthcare sector. AIOS, which brings together operating room staff, has planned a series of courses for 2023, and Cisa Group affirms its participation in the delivery of these training days for healthcare workers involved in sterilization processes.
  • In November 2021, Steelco launched new VS G2 series for centralized sterile reprocessing. The new VS G2 series of steam sterilizers incorporates and develops the most sophisticated Steelco technology to satisfy the demands of hospitals, CSSDs, and medical and outsourcing centers. The VS G2 series has a variety of models to maximize workflow and versatility. Unique cutting-edge technologies such as 4D Sensor and Advance Eco Options set a new level for performance, adaptability, safety, and utility consumption reduction. The VS G2 Series combines great productivity and efficiency with the lowest running costs per load, helping our clients achieve their environmental sustainability goals.
Biological and Chemical Indicators Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Biological and Chemical Indicators Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Biological and Chemical Indicators Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Biological and Chemical Indicators industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Biological and Chemical Indicators Market Study comprises an analysis of 28 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Biological and Chemical Indicators Market along with current trends and future estimations to depict imminent investment pockets. The overall Biological and Chemical Indicators industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Biological and Chemical Indicators Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segments

By Biological Indicator Type

  • Self-Contained Biological Indicators (SCBI)
    • Rapid Fluorescence System
    • Others
  • Spore Strips
  • Spore Suspension
  • Others

By Chemical Indicator Type

  • Type 1 Chemical Indicator (Process)
  • Type 2 Chemical Indicator (Specific-Use)
  • Type 3 Chemical Indicator (Single Variable)
  • Type 4 Chemical Indicator (Multi Variable)
  • Type 5 Chemical Indicator (Integrating)
  • Type 6 Chemical Indicator (Cycle Verification)

By Sterilization Method

  • Steam
  • Hydrogen Peroxide
  • Others

By Application

  • Biopharma Industry
  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Diagnostic Labs
  • Research Labs

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    •  Germany
    • France
    • The UK
    • Spain
    • Italy
    • Netherlands
    • Russia
    • Switzerland
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Market Players
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Telehealth & Telemedicine Market
February, 2024

New York, February 2024: According to a new research study by Global Insight Services (GIS), the global Telehealth & Telemedicine Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 184.6 bn by 2033.

Telehealth is the use of electronic information and telecommunications technologies to support and promote long-distance clinical health care, patient and professional health-related education, public health and health administration. Telemedicine refers to the remote diagnosis and treatment of patients employing telecommunications technology.

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Telehealth & Telemedicine Market: Key Trends and Drivers

With the increasing adoption of smartphones and easy availability of technologically advanced devices, innovators have started investing to make the most of the current situation of the industry, by focusing on delivering quality healthcare & comfort through various mobile platforms, which would help patients track their fitness regimes and obtain answers to medical inquiries over the phone, WhatsApp, or through several mobile applications. For instance, several apps, such as Teladoc Health, Doctor Anywhere, Doctor On Call, and ClicknCare, have been introduced to help patients book appointments, track their consultations & medical prescriptions, and store their healthcare information over course of the treatment. Such instances are further boosting the market growth.

Telehealth & Telemedicine Market: Restraints & Challenges

Some of the key restraints and challenges in the Telehealth & Telemedicine Market are:

  • There is the issue of reimbursement. Many insurance companies do not yet reimburse for telehealth services, which can be a barrier to adoption.
  • There is the question of regulation. There are currently no federal regulations specifically for telehealth, which can create a patchwork of state regulations that can be difficult to navigate.
  • There is the challenge of implementation. Telehealth requires both technology and process changes, and can be disruptive to traditional care delivery models.
  • Telehealth requires active participation from patients, who may not be used to or comfortable with using technology for their health care.
Telehealth & Telemedicine Market Report Findings

https://www.globalinsightservices.com/reports/telehealth-telemedicine-market/

The software & services segment is anticipated to hold a majority of the Telehealth & Telemedicine Market size throughout the study period.

Based on the deployment, the Telehealth & Telemedicine Market is divided into software and services, and hardware. The services segment held the largest share of xx% in 2023. The need for telehealth applications in real-time monitoring and chronic disease management contributed to the growth of the segment. Moreover, rapid advancements in digital infrastructure, hardware and software components, and increasing penetration of smartphones, and the internet globally further contributed to the segment growth. Moreover, the development of a range of platforms & applications to diagnose, monitor, track fitness & wellness, and prevent disease is boosting the segment growth. The continuously evolving digital space is also expected to positively support the growth of these services.

The software segment is anticipated to witness a lucrative CAGR during the forecast period due to the rising demand for affordable and accessible healthcare services, efficient workflow management, and improved quality care. Rising healthcare costs combined with the growing need to monitor population health accurately and in real-time is increasing the adoption of the software. Moreover, several healthcare institutions in developed nations have shifted to value-based care models to improve patient outcomes. Furthermore, several initiatives have been undertaken by the key players globally, which is driving the segment growth.

The cloud-based segment is anticipated to hold a majority of the Telehealth & Telemedicine Market size throughout the study period.

By component, the industry is bifurcated into Cloud-based, and On-Premise. The cloud-based delivery segment is anticipated to witness the fastest growth rate during the forecast period, owing to the increasing adoption of cloud-based applications by healthcare providers and patients and the introduction of technologically advanced solutions. Moreover, seamless data storage and recovery, easy accessibility, high bandwidth, and enhanced security provided by cloud-based applications are contributing to the growth of the segment. Increasing instances of data breaches on the web-based and on-premise telehealth platforms have augmented the demand for the cloud-based delivery segment. Cloud-based solutions enable patient monitoring and teleconsultation for individuals, who require immediate medical assistance in rural and remote locations.

The teleradiology segment is likely to hold a dominant Telehealth & Telemedicine Market share and grow at a substantial CAGR during the forecast period.

Based on application, the industry is categorized into teleradiology, telepsychiatry, telepathology, teledermatology, telecardiology and others the teleradiology segment dominated the market and accounted for the largest revenue share of more than xx% in 2023. This is because of factors, such as an increase in imaging practices, teleradiology workflow adoption by healthcare providers, expansion of service offerings within radiology sub-segments, and the streamlining & regulation of teleradiology practices. The integration of Artificial Intelligence (AI) into teleradiology, implementation of Picture Archiving and Communication System (PACS), and growing R&D activities pertaining to eHealth are key growth propellers over the forecast period.

Heidelberg Medical Consultancy & Health Tourism Pvt. Ltd., for instance, is a telemedicine service provider specializing in customized, high-quality, and affordable radiology reporting solutions for dental specialists and practices. Telepsychiatry, on the other hand, is projected to grow at the fastest CAGR from 2023 to 2033. This is owing to the growing prevalence of mental health disorders, behavioral disorders, rising awareness, and adoption of telepsychiatry services. MD Live, for instance, offers sessions with counselors and psychiatrists for a range of conditions including anxiety, depression, trauma & PTSD, panic disorders, and more.

The providers segment is anticipated to hold a majority of the Telehealth & Telemedicine Market size throughout the study period.

Based on end-user, the Telehealth & Telemedicine Market is divided into providers, payers, and consumers. The provider segment accounted for the largest revenue share of 53.0% in 2023 due to the increasing adoption of telehealth, teleconsultation, and telemedicine among healthcare professionals to reduce the burden on healthcare facilities. Moreover, the increased convenience offered by these solutions to the healthcare providers to have quick and seamless access to patient health records, real-time quality reporting, improved data management, improved decision-making, and eHealth solutions is expected to further increase the adoption of these services among the providers.

The Asia-Pacific region is estimated to exhibit the highest growth rate during the Telehealth & Telemedicine Market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific, on the other hand, is anticipated to be the fastest-growing regional market during the forecast period. This rapid growth can be attributed to the presence of a large patient population pool, increasing internet usage, and rapid demand for healthcare assistance, especially in the rural areas. Emerging economies including India and China are estimated to lead the regional market in the years to come. In March 2021, India Brand Equity Foundation (IBEF) reported that the Indian government launched a telemedicine service-eSanjeevani and completed around 3 million consultations across the nation.

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Competitive Landscape

Market players are focusing on strategic collaborations to enhance their product offerings. Some prominent participants in the global Telehealth & Telemedicine Market include AMC Health, American Well Corporation, Cerner Corporation, CISCO System Inc., General Electric Company, Koninklijke Philips N.V., Cigna Corporation, Medtronic Plc., Siemens AG, Teladoc Health Inc. among others.

Recent Developments in the Telehealth & Telemedicine Market:

  • In July 2021, Estshara, a Cairo-based company providing an online platform for health consultations and tele pharmacy services, secured USD 500,000 from Egypt Venture in a seed funding round. The company has more than 2 million users currently with a track record of over 200,000 consultations.
  • In May 2021, MediTelecare introduced “MediTely” in the market. It is a direct-to-consumer mobile health technology that focuses on the elderly population living outside long-term care facilities.
  • In May 2021, Teladoc Health partnered with Vivo to improve access to quality healthcare in Brazil, specifically through the use of telemedicine.
  • In April 2021, Swedish digital health start-up Kry, which offers telehealth service and software tools to connect clinicians with patients for remote consultations, raised EUR 312 million. Nearly 6,000 clinicians are using its telehealth platform and software tools.
  • In March 2021, AMD Global announced its integration with PointClickCare Technologies, the leader in cloud-based software technology for the long-term and post-acute care (LTPAC) market.
Telehealth & Telemedicine Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Telehealth & Telemedicine Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Telehealth & Telemedicine Market in terms of revenue ($Million) and volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Telehealth & Telemedicine industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Telehealth & Telemedicine Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Telehealth & Telemedicine Market along with current trends and future estimations to depict imminent investment pockets. The overall Telehealth & Telemedicine industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Telehealth & Telemedicine Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Global Telehealth & Telemedicine Market Segmentation

By Component

  • Software & Services
  • Hardware

By Delivery Mode

  • Cloud-based
  • On-Premise

By Application

  • Teleradiology
  • Telepsychiatry
  • Telepathology
  • Teledermatology
  • Telecardiology
  • Others

By End-user

  • Providers
  • Payers
  • Consumers

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa
Key Players

 

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Medical Tourism Market
January, 2024

New York, January 2024: According to a new research study by Global Insight Services (GIS), the Medical Tourism Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 379.6 billion by 2033.

Medical tourism, also called medical travel, is the practice of traveling to another country for medical care.

Medical tourism typically involves elective procedures, such as cosmetic surgery, that are not covered by insurance. Patients often travel for care because they can receive high-quality treatment at a lower cost than at home.

Some countries, such as Thailand and India, have developed a reputation for providing excellent medical care at a fraction of the cost of care in developed countries. As a result, they have become popular destinations for medical tourists.

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Global Medical Tourism Market: Market Drivers and Trends

There are a few key trends in medical tourism technology:

  1. Online Consultations: More and more medical tourism companies are offering online consultations with doctors and medical professionals. This allows potential patients to get a better idea of what their options are and what procedures might be right for them.
  2. Virtual Reality: Some medical tourism companies are beginning to use virtual reality technology to give potential patients a realistic view of what their procedure will be like. This can help to ease any anxiety about the unknown and make the decision-making process easier.
  3. Mobile Apps: There are several mobile apps available that can help potential patients compare prices, find doctors, and book appointments. This makes the entire process more convenient and allows patients to make informed decisions about their care.

The major drivers of this market are the increasing cost of healthcare, a lack of health insurance, and long waiting periods for treatments in developed countries.

Lack of health insurance is another major driver of medical tourism.  This is because the cost of health insurance is rising at a faster pace than wages. In addition, many insurance plans do not cover the cost of certain treatments, such as cosmetic surgery. This forces patients to pay for their treatment out of their own pockets, which can be very expensive.

Long waiting periods for treatments is another factor driving patients to seek medical care abroad. In the United Kingdom, patients have to wait an average of 18.2 weeks for elective surgery. This is because the NHS is understaffed, and there is a shortage of hospital beds. This problem is also seen in other developed countries, such as Canada and Australia.

Global Medical Tourism Market: Market Restraints and Challenges

There are several key restraints and challenges in the medical tourism market. One of the key restraints is the lack of standardization in the medical tourism industry. This lack of standardization makes it difficult for patients to compare prices and quality of care among providers. In addition, there is a lack of transparency in the medical tourism industry, which can make it difficult for patients to make informed decisions about their care.

Another key challenge in the medical tourism market is the lack of insurance coverage for medical tourism services. This lack of insurance coverage can make it difficult for patients to afford medical tourism services. In addition, there is a lack of regulation in the medical tourism industry, which can make it difficult for patients to find reputable and safe providers.

Global Medical Tourism Market Report Findings

https://www.globalinsightservices.com/reports/medical-tourism-market/

The cosmetic treatment segment is likely to hold the major share of the market in 2023

Based on treatment type, the Medical Tourism Market is segmented into cardiovascular treatment, orthopedic treatment, cosmetic treatment, bariatric treatment, dental treatment, ophthalmology treatment, infertility treatment, alternative medicine, and other services. The cosmetic treatment segment is expected to dominate the market during the forecast period. Various reasons, such as increased patient awareness, rising demand for anti-aging therapies, and the high cost of cosmetic implants in developed nations, are driving market expansion. Thailand is mostly known for bariatric and cosmetic surgery. Laser tattoo removal, breast augmentation, liposuction, hair transplantation, botox, and cool sculpting are among the most common operations performed in Thailand. In contrast, operations such as gastric bypass, hip replacement, and knee replacement are less expensive in India than in certain affluent countries such as the United Kingdom and the United States. Tourists favor Costa Rica for dental operations..

The private segment is likely to hold the major share of the market in 2023

By Service Providers, the market is classified into public and private. The private segment dominated the market in 2023 in terms of revenue and is expected to dominate the market during the forecast period. The adoption of modern healthcare technology, as well as the availability of internationally recognized and accredited private care providers, are driving expansion in the market. Furthermore, the private sector delivers speedier services and greater privacy than the government sector. Healthcare institutions in poor nations desire worldwide regulatory certification, which will allow them to obtain access to international healthcare insurance and purchasing networks. Insurance firms in industrialized countries are implementing health tourism provisions into their medical plans to encourage people to seek medical care in other countries. Furthermore, the significant rise in healthcare costs, along with a huge number of uninsured or underinsured people, is pushing visitors who require medical treatment to seek inexpensive healthcare services and treatments in developing countries..

The domestic segment is likely to hold the major share of the market in 2023

Based on type, the Medical Tourism Market is segmented into domestic and international. In 2023, the Host Owned segment dominated the market in terms of revenue and is expected to be the same during the upcoming years. Domestic travelers seeking medical tourism may differ in terms of their requirements and interests. Traveling inside a nation for medical treatment is frequently done to save money, have access to specialist care, or be more convenient economically. Tourists in more convenient or accessible locales seek medical attention. Individuals may select a city or area based on personal preferences, airline accessibility, or hospital proximity. Many travelers seek second opinions following a medical diagnosis or recommendation from their local doctor. Alternative therapy choices are frequently explored in other countries for reassurance. Thus, the domestic medical tourism business is expanding. Medical care and wellness resorts are popular among domestic travelers..

The medical treatment segment is likely to hold the major share of the market in 2023

Based on healthcare service, the Medical Tourism Market is segmented into medical treatment, wellness, and alternative treatment. The medical treatment segment is expected to dominate the market during the forecast period. Increased demand for medical operations, such as dental, orthopedic, spinal, and cardiac, is driving the segment’s rise. The availability of superior facilities and services at reduced costs in developing countries such as India, Singapore, and Thailand encourages tourists from high-income countries to visit these countries on medical visas. Medical treatment operations in these famous places decreased in 2020 due to government-imposed COVID-19 regulations. However, as the limits have been removed in several countries, the acceptance of these treatments is projected to increase, leading to substantial sector development throughout the projection period.

The North America region is accounted for the majority of market share in 2023

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America has the biggest market share in terms of Medical Tourism Market value followed by Asia Pacific. A larger number of tourists visiting the United States for medical treatments such as cardiology and orthopedic surgeries, which boosts the revenue margins of medical service providers, distinguishes the regional market. For example, the International Trade Administration (ITA) 2021 report shows that the United States spent USD 3.4 billion on incoming health tourism. Although the country is well-known for outbound tourism, it is also a popular choice for medical treatments due to its upgraded hospital infrastructure and highly qualified specialists.

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Competitive Landscape

The key players studied in the global Medical Tourism Market are Al Zahra Hospital, Al Rahba Hospital, Zulekha Hospital, Samitivej PCL, Phyathai Hospitals Group, Asklepios Kliniken GmbH, Fortis Healthcare Limited, Apollo Hospitals Enterprise Limited, Razavi Hospital, and Jordan Hospital.

Global Medical Tourism Market: Recent Developments

  • In April 2023, Rattinan Medical Centre, Thailand’s leading cosmetic surgery and laser treatment provider, has collaborated with FICO Group to open a new facility to expand wrinkle-free medical tourism offerings.
  • In January 2023, The Dubai Health Authority (DHA) has developed ‘Dubai in One Day’, a unique medical tourism package for overseas patients. DHA’s health initiative at Arab Health 2023 is planned to allow foreign medical tourists to arrange operations and access a variety of tourism services in only a few hours.
  • In August 2022, The Indian government announced the commencement of the ‘Heal in India’ project on August 15, 2022. The project intends to increase medical tourism in India by providing specific offices at 10 airports, a bilingual webpage, and reduced visa requirements for incoming international travelers visiting India for medical reasons.
  • In November 2021, Egypt has announced the establishment of a program designed to give modern medical and therapeutic services to overseas patients.

Global Medical Tourism Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Medical Tourism Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global Medical Tourism Market potential from 2023 to 2033 in terms of revenue ($ Million), and Volume (Units).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Medical Tourism Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Medical Tourism Market industry.
Market Segments

By Treatment Type

  • Cardiovascular Treatment
  • Orthopedic Treatment
  • Cosmetic Treatment
  • Bariatric Treatment
  • Dental Treatment
  • Ophthalmology Treatment
  • Infertility Treatment
  • Alternative Medicine
  • Other Services

By Service Provider

  • Public
  • Private

By Type

  • Domestic
  • International

By Healthcare Services

  • Medical Treatment
  • Wellness
  • Alternative Treatment

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • The Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players

 

 

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Behavioral Health Software Market
January, 2024

New York, January 2024: According to a new research study by Global Insight Services (GIS), the Behavioral Health Software Market is expected to grow rapidly over the next 10 years and it is expected to reach a CAGR 14.8% during the forecast period.

A Behavioral Health Software, also known as a lightning arrester or surge protector, is a crucial electrical device designed to safeguard sensitive electronic equipment and systems from voltage surges or transient overvoltages. These surges can result from lightning strikes, power grid fluctuations, or other abrupt changes in electrical conditions. The Behavioral Health Software acts as a protective barrier by diverting excess voltage away from the connected equipment, preventing damage and ensuring the reliable operation of electrical systems. Essentially, it serves as a defense mechanism to absorb and dissipate the energy associated with sudden voltage spikes, maintaining the integrity and longevity of electronic devices in various applications, including residential, commercial, and industrial settings.

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Global Behavioral Health Software Market: Market Drivers and Trends

Behavioral Health Software were marked by a notable shift towards integrated and user-friendly platforms, catering to the growing demand for comprehensive mental health solutions. Increased emphasis on telehealth services, remote patient monitoring, and interoperability with electronic health records were key drivers. Additionally, advancements in artificial intelligence and data analytics aimed at enhancing personalized treatment plans and predictive analytics have been gaining traction.

The growing awareness and acceptance of mental health issues, coupled with an increasing demand for comprehensive and accessible healthcare solutions, are significant market drivers for Behavioral Health Software. As society recognizes the importance of mental well-being, healthcare providers are seeking innovative technology to streamline and enhance the delivery of mental health services. Behavioral Health Software addresses this need by offering tools for efficient patient management, treatment planning, and outcome tracking, thereby fostering improved collaboration among healthcare professionals and promoting better patient outcomes.

Global Behavioral Health Software Market: Market Restraints and Challenges

One significant market restraint for Behavioral Health Software lies in the challenges associated with ensuring widespread adoption and integration within existing healthcare systems. The complexity of interoperability with various electronic health record (Electronic Health Record (EHR) ) platforms and the need for seamless data exchange pose obstacles.

Additionally, concerns regarding data privacy and security create hesitancy among healthcare providers and organizations to fully embrace these solutions. Addressing these interoperability and security issues is crucial to unlocking the full potential of Behavioral Health Software and fostering its broader implementation in the healthcare landscape.

Global Behavioral Health Software Market Report Findings

https://www.globalinsightservices.com/reports/behavioral-mental-health-software-market/

The software segment is likely to hold the major share of the market in 2023

Based on the component, the market is segmented into software and support services. Whereas, the software segment is further sub-categorized into integrated and standalone. Among these, in 2023, software segment accounted for largest market share, fueled by the increasing recognition of the importance of mental health and the growing demand for innovative solutions. Key components such as electronic health records (EHRs), telehealth platforms, and mobile applications have experienced significant expansion. These software solutions facilitate seamless communication and data sharing among healthcare professionals, streamline patient management, and enhance accessibility to mental health services. Moreover, the integration of advanced technologies like artificial intelligence and machine learning has further propelled the development of personalized treatment plans, reinforcing the overall growth trajectory of the Behavioral Health Software Market. The persistent emphasis on improving mental health outcomes, coupled with technological advancements, is expected to sustain the positive momentum in the software segment of the Behavioral Health Software Market.

The post-traumatic stress disorder (PSTD) segment is likely to hold the major share of the market in 2023

Based on the disorder type, the market is segmented into anxiety, post-traumatic stress disorder (PSTD), substance abuse, schizophrenia, bipolar disorders, and others. Among these, in 2023, the Post-Traumatic Stress Disorder (PTSD) is experiencing notable growth. As awareness and understanding of PTSD continue to expand, there is a heightened demand for specialized software solutions that cater to the unique needs of individuals grappling with this disorder. The increasing recognition of the prevalence of PTSD, especially among military veterans, first responders, and survivors of trauma, has spurred the development and adoption of innovative behavioral health software. These solutions aim to provide targeted interventions, personalized treatment plans, and comprehensive support for both patients and healthcare professionals, contributing significantly to the overall expansion of the PTSD segment within the Behavioral Health Software Market.

The ownership model segment is likely to hold the major share of the market in 2023

On the basis of Delivery Model, the Behavioural Health Software Market is segmented into ownership model and the subscription model. Among these, in 2023, the ownership models segment has emerged as a noteworthy driver of growth over the past year. The shift towards cloud-based delivery models has gained momentum, offering greater accessibility, scalability, and cost-effectiveness for healthcare providers. Additionally, the rise of subscription-based ownership models has allowed organizations to adopt behavioral health software solutions without substantial upfront investments. This subscription approach aligns with the industry’s emphasis on flexibility and affordability, encouraging widespread adoption. As a result, the market is witnessing a surge in demand for cloud-based solutions and subscription-based ownership models, driving significant growth in these segments as organizations prioritize efficient and cost-effective ways to enhance behavioral health services.

The clinical segment is likely to hold the major share of the market in 2023

Based on the function, the market is segmented into the clinical, administrative, and financial. The clinical segment is further divided into Electronic Health Records (EHRs), clinical decision support, care plans, e-prescribing, and telehealth. The administrative segment is subcategorized into patient/client scheduling, case management, and others. The financial segment is further divided into revenue cycle management, accounts payable/GENERAL LEDGER, and others. Out of these, in 2023, clinical segment emerging as a key contributor to this expansion. driven by the increasing adoption of clinical Electronic Health Records (EHRs) specifically tailored to address the unique requirements of behavioral health providers. These specialized EHRs facilitate comprehensive patient care by integrating functionalities such as treatment planning, progress tracking, and outcome assessments. The growing recognition of mental health as a critical component of overall well-being has spurred the demand for advanced software solutions, fueling the expansion of this market segment. As healthcare organizations strive for interoperability and streamlined workflows, the integration of behavioral health software within broader health information systems is expected to contribute further to the market’s robust growth, supporting improved patient outcomes and more efficient care delivery.

The hospitals & clinics segment is likely to hold the major share of the market in 2023

On the basis of end-user, the market is segmented into hospitals & clinics, community centers, private practices, and others. Among  these, in 2023,  the hospitals & clinics segment in the Behavioural Health Software Market has witnessed remarkable growth, owing to the increasing recognition of mental health as a crucial component of overall well-being. End-users, including healthcare institutions, are increasingly adopting behavioral health software to enhance patient care, streamline administrative processes, and improve overall efficiency. The demand is driven by a growing awareness of the importance of mental health, coupled with advancements in technology that enable more effective diagnosis, treatment, and management of behavioral health conditions. Hospitals and clinics are recognizing the value of integrated software solutions to provide comprehensive care, and this trend is expected to continue fostering the growth of the Behavioral Health Software Market in the coming years.

The North America region is accounted for the majority of market share in 2023

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. In 2023,  North America has witnessed significant growth driven by several key factors. This is due to with healthcare providers, clinicians, and patients alike recognizing the value of advanced behavioral health software in improving accessibility, streamlining patient care, and enhancing overall mental health outcomes. The demand for user-friendly platforms that facilitate seamless communication between patients and healthcare professionals, coupled with a rising need for data-driven insights to inform treatment strategies, has propelled the adoption of behavioral health software among end-users in North America, contributing significantly to the market’s expansion. As the region continues to prioritize mental health and technology integration within healthcare, the Behavioral Health Software market in North America is poised for sustained growth.

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Competitive Landscape

To obtain a competitive edge in the rapidly expanding Behavioral Health Softwares Market, players are focusing on strategic collaborations to enhance their product offerings. Some prominent participants in the Behavioral Health Software Market Report includes TE Connectivity, ABB Ltd. CG Power & Industrial Solutions Ltd., CHINT Group, DEHN SE, Eaton, Ensto, Elpro, General Electric Company, Hubbell, INAEL, S.A., Izoelektro, Raycap Corporation SA , Siemens Energy, Surgetek, Schneider Electric SE, Leviton Manufacturing Company, Inc., TDK Electronics AG, and Mitsubishi Electric Corporation (Mitsubishi Electric), among others.

Global Behavioral Health Software Market: Recent Developments
  • In October 2022, Calm, a subscription-based mindfulness app, launched its first foray into a clinical mental health platform called Calm Health. Calm Health includes condition-specific programs designed to bridge the gap between mental and physical healthcare.
  • In September 2022, San Francisco-based Osmind updated its electronic health record system for mental health clinicians and integrated Zoom virtual visits within its technology platform as part of the company’s regulatory-compliant ISV Partner Program.
  • In 2018, SimplePractice, LLC launched a telehealth platform for video conferencing in a behavioral health setting.
Behavioral Health Software Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Behavioral Health Software Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Behavioral Health Software Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Behavioral Health Software industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Behavioral Health Software Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Behavioral Health Software Market along with current trends and future estimations to depict imminent investment pockets. The overall Behavioral Health Software industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Behavioral Health Software Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segments

By Component

  • Software
    • Integrated
    • Standalone
  • Support Services

By Delivery Model

  • Ownership Model
  • Subscription Model

By Function

  • Clinical
    • Electronic Health Record (EHR)
    • Clinical Decision Support
    • Care Plans
    • E-prescribing
    • Telehealth
    • Administrative
    • Patient/Client Scheduling
    • Case Management
    • Others
  • Financial
    • Revenue Cycle Management
    • Accounts Payable/GENERAL LEDGER
    • Others
  • Administrative

By Disorder Type

  • Anxiety
  • Post-traumatic Stress Disorder (PSTD)
  • Substance Abuse
  • Schizophrenia
  • Bipolar Disorders
  • Others

By End-user

  • Hospitals & Clinics
  • Community Centers
  • Private Practices
  • Others

By Region

  • North America
    • The U.S.
    •  Canada
    •  Mexico
  • Europe
    •  The U.K.
    •  Germany
    •  France
    •  Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    •  Finland
    •  Russia
    • Rest of Europe
  •  The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
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Medical Devices Market
January, 2024

New York, January 2024: According to a new research study by Global Insight Services (GIS), the Medical Devices market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 1024.1 billion by 2033.

Medical Devices is produced through a process called steam methane reforming, where natural gas is converted into hydrogen and carbon dioxide (CO2) with carbon capture and storage (CCS) to mitigate environmental impact. Unlike grey hydrogen, which emits CO2 directly, Medical Devices captures and stores its carbon emissions underground. While considered a transitional solution, critics argue that it still relies on fossil fuels and may pose environmental risks. Proponents see it as a pragmatic step towards decarbonizing the hydrogen sector, providing a cleaner alternative to conventional methods while infrastructure for green hydrogen production is being developed.

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Medical Devices Market: Key Drivers

Medical Devices is produced through a process called steam methane reforming, where natural gas is converted into hydrogen and carbon dioxide (CO2) with carbon capture and storage (CCS) to mitigate environmental impact. Unlike grey hydrogen, which emits CO2 directly, Medical Devices captures and stores its carbon emissions underground. While considered a transitional solution, critics argue that it still relies on fossil fuels and may pose environmental risks. Proponents see it as a pragmatic step towards decarbonizing the hydrogen sector, providing a cleaner alternative to conventional methods while infrastructure for green hydrogen production is being developed.

Medical Devices Market: Market Restraints and Challenges

The soaring costs associated with medical devices act as a significant impediment to the growth of the medical devices market. The development and manufacturing of advanced medical technologies often involve substantial research, stringent regulatory compliance, and intricate engineering processes, contributing to elevated production expenses. Additionally, the need for high-quality materials and stringent quality control further amplifies costs. These financial burdens can strain healthcare budgets, limiting accessibility to cutting-edge medical devices for both healthcare providers and patients. Affordability concerns may hinder widespread adoption, particularly in regions with resource constraints. The intricate reimbursement landscape and insurance complexities also contribute to the economic challenges associated with procuring medical devices. Addressing these cost-related barriers requires a delicate balance between innovation, regulatory frameworks, and economic considerations to ensure equitable access to essential medical technologies for diverse populations.

Medical Devices Market Report Findings

https://www.globalinsightservices.com/reports/medical-devices-market/

The respiratory therapeutic devices segment is likely to hold the major share of the market in 2022

On the basis of device type, the medical devices market is segmented into prosthetic devices, orthotic devices, drug delivery systems, diagnostic devices, respiratory therapeutic devices, electronic medical devices, and others. The respiratory therapeutic devices segment is expected to have the largest Medical Devices market share in 2023. With an escalating prevalence of respiratory conditions such as COPD and asthma, there is an augmented demand for advanced therapeutic devices that facilitate effective management and treatment. Innovations in inhalation therapies, nebulizers, and ventilators contribute significantly to this segment’s expansion. Moreover, the ongoing global focus on respiratory health, especially in the context of respiratory infections and pandemics, further accentuates the importance of these devices. As respiratory health gains prominence, the respiratory therapeutic devices segment plays a crucial role in driving overall market growth.

The hospitals and clinics segment is likely to hold the major share of the market in 2022

Based on end user, the medical devices market is classified into hospitals and clinics, diagnostic centers, research laboratory, and others. The hospitals and clinics segment is expected to have the largest Medical Devices market share in 2023. As key healthcare providers, hospitals and clinics drive substantial demand for a diverse array of medical devices, ranging from diagnostic equipment to surgical instruments. The increasing patient influx, coupled with the constant need for advanced medical technologies, fuels sustained growth in this segment. Technological advancements, such as robotic-assisted surgeries and sophisticated imaging devices, further enhance the demand. With healthcare facilities continually investing in cutting-edge devices to enhance patient care and outcomes, the Hospitals and Clinics segment remains a vital force propelling the overall expansion of the medical devices market.

The North America region is likely to hold the major share of the market in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North America market is expected to have the largest Medical Devices market share in 2023. The region’s robust growth is propelled by factors such as extensive research and development activities, a sophisticated healthcare infrastructure, and a high adoption rate of advanced medical technologies. Additionally, the presence of major industry players and a proactive regulatory environment contribute to the region’s dominance. The increasing prevalence of chronic diseases and the continuous quest for innovative healthcare solutions further elevate the demand for medical devices in North America, solidifying its position as a key driver in the global medical devices market.

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Competitive Landscape

The key players studied in the Medical Devices market are PROTEOR (France), Abbott (US), Baxter International, Inc. (US), Becton, Dickinson and Company (US), Boston Scientific Corporation (US), Cardinal Health (US), Danaher Corporation (US), Essilor (France), F. Hoffmann-La Roche Ltd (Switzerland), Fresenius Medical Care AG (Germany), General Electric Company (US), Johnson & Johnson (US), Koninklijke Philips N.V. (Netherlands), Medtronic (US), Siemens (Germany), Smith & Nephew plc (UK), Stryker Corporation (US), Terumo Medical Corporation (US), Thermo Fisher Scientific Inc. (US), and Zimmer Biomet (US).

Medical Devices Market: Recent Developments

  • October 2023, Today, leading global medical technology company BD (Becton, Dickinson and Company) and solid waste, recycling, and resource management services provider Casella Waste Systems, Inc. revealed the latest outcomes of a recycling pilot program to handle discarded syringes and needles. The program resulted in the recycling and diversion of 40,000 pounds of medical waste from disposal.
  • July 2023, Baxter International’s second-quarter sales exceeded Wall Street projections partly due to increased demand for its medical products. The demand for medical equipment has increased due to a rise in hospital admissions driven by a continuing recovery in the demand for non-urgent surgical operations and relieving staffing constraints.
  • February 2023, Cardiovascular Systems, Inc. (CSI) and Abbott announced a final agreement for Abbott to purchase CSI. CSI manufactures medical devices that treat peripheral and coronary artery disease with a revolutionary atherectomy system. The deal states that CSI owners would get $20 for each common share, for an estimated total equity value of $890 million.

Medical Devices Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Medical Devices Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Medical Devices Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Medical Devices industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Medical Devices Market along with the current trends and future estimations to depict imminent investment pockets. The overall Medical Devices industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Medical Devices Market are also analyzed.

Medical Devices Market Segmentation

By Device Type

  • Prosthetic Devices
    • Upper Limb
    • Lower Limb
  • Orthotic Devices
    • Helmet
    • Cervical Collar
    • Spinal Brace
    • Hip Brace
    • Foot Brace
    • Others
  • Drug Delivery Systems
    • Metered Dose Inhaler Devices
    • Infusion Systems
    • Others
  • Diagnostic Devices
    • X-Ray
    • CT (Computed Tomography)
    • PET (Positron Emission Tomography)
    • Others
  • Respiratory Therapeutic Devices
    • Ventilators
    • Oxygen Concentrators
    • Resuscitators
    • Others
  • Electronic Medical Devices
    • Sphygmomanometer
    • Pulse Oximeter
    • Digital Thermometers
    • Monitoring Devices
    • Others
  • Others

By End User

  • Hospitals and Clinics
  • Diagnostic Centers
  • Research Laboratory
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players

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Palm Veins Biometrics Market
January, 2024

Palm Veins Biometrics Market to Reach US$ 4.20 billion by 2033, driven by the surge of palm vein biometrics in security, privacy, and affordability: Global Insight Services

New York, January 2024: According to a new research study by Global Insight Services (GIS), the global Palm Veins Biometrics Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 4.20 Billion by 2033.

Palm vein biometrics is an advanced method of identifying individuals based on the distinctive patterns of veins in their palms, akin to fingerprints. This technology captures near-infrared images of palm veins, analyzing and securely storing them for comparison during subsequent scans. By scanning a person’s palm, the system verifies their identity by comparing the captured image with stored data.

Widely utilized in security, healthcare, banking, and access control, palm vein biometrics ensures secure, accurate authentication without intrusion. The industry dedicated to its development and implementation focuses on creating reliable systems that leverage the unique palm vein patterns for authentication across diverse applications.

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Palm Veins Biometrics Market: Key Trends and Drivers

Emerging advantages of palm vein scanners

As biometric technologies continue to evolve, palm vein scanning is emerging as a highly secure and private identification solution. Palm vein scanners use infrared lighting to map the unique vein patterns inside a person’s hand, capturing over 5 million data points. Unlike facial recognition systems that can identify people remotely without consent, palm vein scanners require the user to deliberately scan their hand. This consent-based approach ensures privacy and helps prevent unauthorized tracking. With fingerprint scanning vulnerable to skin conditions, the palm vein’s subdermal source material makes it resilient and accurate. As consumers demand both security and privacy, palm vein scanning provides the best of both. Look for this advanced biometric technology to gain significant market share in the coming years.

The surge of palm vein biometrics in security, privacy, and affordability

The palm vein biometric industry is being propelled by several key factors. Firstly, its high level of accuracy and security makes it a preferred choice for various applications such as access control and identity verification. Secondly, increasing concerns about data security and privacy have led to a growing demand for biometric solutions that offer reliable authentication without compromising personal information.  Additionally, advancements in technology have made palm vein recognition systems more affordable and accessible, driving adoption across diverse sectors including healthcare, finance, and government. These factors collectively contribute to the growth and expansion of the palm vein biometric industry.

Market Restraints and Challenges

Cost Associated with Implementing and Maintaining Palm Vein Recognition Systems:

The implementation and maintenance of palm vein recognition systems entail significant costs, often proving prohibitive for many businesses and organizations. Initially, there are expenses associated with the acquisition of the necessary hardware and software components, including palm vein scanners and authentication software. Furthermore, integrating these systems into existing infrastructure demands resources and expertise, adding to the financial burden. Beyond the initial setup, ongoing maintenance, upgrades, and technical support contribute to the overall cost of sustaining palm vein recognition systems. These expenses encompass software updates, hardware repairs or replacements, and personnel training. For smaller businesses or organizations with limited budgets, the upfront and recurring costs associated with palm vein recognition systems may pose substantial challenges, impeding their adoption and implementation.

Concerns Regarding User Acceptance and Privacy Issues:

Despite the promising capabilities of palm vein recognition systems, concerns regarding user acceptance and privacy issues loom large, potentially hindering widespread adoption. Users may feel apprehensive about having their biometric data, such as palm vein patterns, stored and utilized for authentication purposes. Privacy apprehensions intensify amidst growing worries about data breaches and unauthorized access to sensitive information. Moreover, some individuals may find the process of palm scanning intrusive or uncomfortable, deterring them from embracing this technology. Addressing user acceptance concerns necessitates transparent communication about data handling practices, robust security measures, and mechanisms for obtaining user consent. Failure to assuage these apprehensions could impede the broader acceptance and adoption of palm vein recognition systems across various sectors and applications.

Palm Veins Biometrics Market Report Findings

https://www.globalinsightservices.com/reports/palm-vein-biometrics-market/

The reader’s segment is likely to hold a dominant Palm Veins Biometrics Market share and grow at a substantial CAGR during the forecast period.

Based on product, the Palm Veins Biometrics market is segmented into hardware and software, and services. Further hardware segment sub-categorized into readers, scanners, and cameras. Whereas, software and services segment is further sub-segmented into operating systems, middleware, intelligent layers, system integration, software platforms, training, and post-deployment maintenance. Among them, the hardware segment of scanners sub-segment is expected to experience the significant growth during the forecast period. A palm vein scanner captures the image of an individual’s vein pattern, reflecting it with near-infrared rays. The existing deoxidized hemoglobin in the palm vein will absorb the infrared rays and decrease the reflection rate, which causes the veins to appear as a black pattern. The biometric vein pattern obtained is then verified against a pre-registered pattern of a vein to verify an individual. Amazon introduced a new payment method with its Amazon One product that uses this palm scanning technology. And it will be making its way into more than 500 Whole Foods locations. Amazon Prime members can link their credit or debit cards and ID to their Amazon One account. Other retailers, like Panera Bread, and airport retailers in major cities — such as Atlanta, Los Angeles, and New York — are also using Amazon One palm scanning payment technology for quicker payments. Such advancement create new growth opportunities for the hardware segment thereby, augment industry growth.

Whereas, the software and service segment of operating sub-segment held the substantial market share in 2023 and is expected to grow at a significant CAGR over the forecast period. Palm vein scanning is being built into major operating systems like Windows, Android, and Apple iOS. This makes it easy for people to use palm vein authentication on their devices. They don’t need extra hardware or software. Recently, Microsoft added a palm vein login to Windows 10. Apple added palm scanning to unlock iPhones. Google allows palm vein authentication in Android. Palm vein biometrics is becoming a common feature in the latest versions of major operating systems. This growth in operating systems support is important for palm vein scanning to become mainstream. People want biometrics like palm scanning conveniently built into the devices they already use. Integration with major operating systems like Windows 10 is driving wider adoption of palm vein biometrics. Hence aforementioned factors boost the segmental growth.

The Banking and Finance segment is likely to hold a dominant Palm Veins Biometrics Market share and grow at a substantial CAGR during the forecast period.

By application, the palm vein biometrics market is segmented into the banking and finance sector, healthcare, home security, commercial security, consumer electronics, education sector, gaming, transportation, and government sectors. Among them, banking and finance held the significant market share in 2023. The banking sector represents the backbone of economic activities, serving as a pivotal conduit for financial transactions, investments, and wealth management. In an increasingly digitalized landscape, the industry has embraced innovative technologies to streamline operations and enhance security measures. Notably, the adoption of palm vein scanning technology has bolstered the sector’s resilience against cyber threats and fraudulent activities, offering highly secure biometric authentication for customer interactions. This robust authentication mechanism not only safeguards sensitive data but also engenders trust among consumers, thereby fostering greater participation in financial services. Furthermore, the integration of palm vein biometrics with mobile banking applications has revolutionized user experiences by offering unparalleled convenience coupled with enhanced security features. As consumers increasingly prioritize safety and efficiency in their financial transactions, the banking and finance sector’s strategic embrace of cutting-edge technologies positions it at the forefront of market dominance, poised for sustained growth and innovation in the foreseeable future.

The North America region is estimated to exhibit the highest growth rate during the Palm Veins Biometrics Market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World.  North America’s dominance in the Palm vein biometrics market share in 2023 can be attributed to several key factors. This is attributed to the region boasts a robust technological infrastructure and a high level of investment in research and development, fostering the adoption of cutting-edge biometric solutions. Secondly, stringent security measures and increasing concerns over data privacy have incentivized businesses and institutions across various sectors, including banking, healthcare, and government, to integrate advanced biometric authentication systems like palm vein recognition. Additionally, North America is home to numerous major players in the biometrics industry, facilitating the development, distribution, and implementation of palm vein technology on a large scale. Furthermore, regulatory frameworks and standards in the region often encourage the deployment of biometric solutions for identity verification and access control purposes, further driving market growth. Hence, North America’s conducive ecosystem for innovation, coupled with its emphasis on security and compliance, thus, enhance the North America Palm vein biometrics market growth during the forecast period.

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Competitive Landscape

The key players in the market are Fujitsu, Hitachi, BioEnable Technologies Pvt Ltd. , M2SYS Technology, NEC National Security Systems, BioSec Group Ltd., Mantra Infotech, IDLink Systems, Matrix Comsec Pvt. Ltd, iDentyTech Solutions, Imprivata, Inc. (Thoma Bravo, LLC,), Thales Group (France), Suprema Inc., Keyo, BioID Technologies GmbH, mofiria Corporation, and Dermalog Identification Systems GmbH, among others.

Recent Developments in the Palm Veins Biometrics Market:

  • In January 2023, NEC Corporation launched a new version of its NeoFace biometric identification software that incorporates palm vein recognition along with facial, fingerprint and iris modalities. This provides multi-biometric user identification for access control and identity management applications.
  • In March 2023, Hitachi announced in an upgraded version of its finger vein and palm vein scanning technology capable of authentication speeds under 0.3 seconds, optimized for use in crowded spaces like airports and stadiums.
  • In November 2023, Fujitsu reported deploying its latest palm vein authentication solutions at over a dozen new commercial banks in Asia and Latin America as part of digital transformation initiatives to enhance security.
  • In September 2023, Apple introduced palm vein biometrics on the iPhone 15 series, allowing users to unlock their phones and authorize Apple Pay transactions securely via palm authentication.

Palm Veins Biometrics Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Palm Veins Biometrics Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Palm Veins Biometrics Market in terms of revenue ($Million)
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Palm Veins Biometrics industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Palm Veins Biometrics Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Palm Veins Biometrics Market along with current trends and future estimations to depict imminent investment pockets. The overall Palm Veins Biometrics industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Palm Veins Biometrics Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.

Global Palm Veins Biometrics Market Segmentation

By Product

  • Hardware
    • Readers
    • Scanners
    • Cameras
  • Software and Services
    • Operating Systems
    • Middleware
    • Intelligent Layers
    • System Integration
    • Software Platforms
    • Training
    • Post-deployment Maintenance

By Application

  • Banking and Finance Sector
  • Healthcare
  • Home Security
  • Commercial Security
  • Consumer Electronics
  • Education Sector
  • Gaming
  • Transportation
  • Government Sector

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players

Read More