Wednesday 30 September 2015

Exploring the Growing Use of Personal Mobility Devices and the Reasons Behind It


Personal mobility devices include medical devices that assist in mobility and help in improving the overall quality of life of the physically disabled and/or geriatric individuals. Devices such as wheelchairs, mobility scooters, canes, crutches, walkers, and rollators are among the major personal mobility devices that are increasingly being demanded in the global market. Promoting mobility equipment and associated devices would facilitate reduction in public health expenditure as the sheer number of geriatric or disabled individuals and their associated needs are posing challenge to the domestic infrastructure, particularly the health systems. Another striking feature of this epidemiological transition is that the geriatric population in developing countries is estimated to exceed by 250%, which is far higher than the projected 71% increase in developed countries based on the findings of the WHO study on global AGEing and Adult Health (SAGE). Therefore, there will be significant growth in this market in the future.


Furthermore, due to the entry of various government and private geriatric/senior citizens, the health insurance players and other international organizations operating for assistance of disabled and elderly population would also facilitate growth of this market. The insurance players would help in reducing the cost of these devices to its end-users by covering various assistive devices under reimbursement plans, and thereby help in making them more affordable to the consumers. This is likely to increase demand for these devices in various price sensitive regions of the world.

The medical mobility aids & ambulatory devices segment comprises six sub-segments: wheelchairs, scooters, canes & crutches, walkers, stair lifts, and others. The medical furniture & bathroom safety products segment is further categorized into patient lifts, medical beds, bars & railings, commodes & shower chairs, and others. The market for these segments and sub-segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Medical beds and wheelchairs were observed as the largest and fastest growing product markets. The major factors driving the personal mobility devices market are high prevalence and increasing incidences of several chronic diseases, their longevity, and increasing disability rates along with increased government funding.

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The key players operating in the global personal mobility devices market are Amigo Mobility International, Inc., Argo Medical, ArjoHuntleigh, Drive Medical, Graham-Field Health Products Incorporated, Hill-Rom Holdings, Inc., Invacare Corporation, Otto Bock Healthcare GmbH, Patterson Medical Holdings, Inc., Permobil AB, Pride Mobility Products Corporation, Stryker Corporation, and Sunrise Medical LLC. In terms of revenue, it was observed that Invacare Corporation held the largest share followed by Hill-Rom Holdings, Inc. in global personal mobility devices market in 2014. The key market players are actively involved in constant innovations and developments related to technology and application to cater the multi-dimensional needs of the end-users for maintaining their position in the global market.

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Friday 25 September 2015

Prevention is Getting Easier with Veterinary Antiseptics



Hydrogen peroxide as an antiseptic is commonly used for the treatment and removal of pus and debris from the wound due to its harsh characteristics. Hydrogen peroxide is also used for cleaning fish ponds, animal water reservoirs, and cages. Alcohol, due to its rapid evaporation action, is less preferred over chlorhexidine and iodine and iodophors based antiseptics. Moreover, several studies have illustrated that alcohol induces bacterial regrowth in wounds. The other products segment includes silver compounds and acetic acid. Silver compounds are used as mild antiseptics and in ophthalmic preparations. Silver nitrate, commonly used as a caustic antiseptic and an astringent, is mostly used in cats and dogs. The degree of action for silver nitrate depends upon the concentration used and the duration for which the compound is allowed to act. Acetic acid is majorly used as wound dressing and in urinary tract irrigation.
Chlorhexidine is widely known for its antiseptic activity in oral care. It is relatively non-irritating to tissues and is used as a bactericidal, virucidal, and fungicidal. Chlorhexidine has limited activity against fungi and mycobacterium. Chlorhexidine as an antiseptic is widely used among horses, cats, sheep, cows, poultry animals, and dogs for the treatment of superficial cuts, abrasions, and insect stings. The potential disadvantages of chlorhexidine include staining of pellicle, unpleasant taste, and desensitized taste buds. Therefore, it is the second leading product in emerging and developing markets. Hydrogen peroxide is a harsh antiseptic agent and can damage the healthy tissues around the wound or abrasion. Despite this characteristic, hydrogen peroxide is an excellent germicidal agent majorly used to remove pus and debris from the wound. Apart from the direct application of hydrogen peroxide on animals, it is used to clean cages, fish ponds, and animal fur.

In dogs, hydrogen peroxide is used to induce vomiting in case of toxic ingestion apart from the prevention of septic. The veterinary antiseptic industry is witnessing impressive growth due to rising demand for animal food products and increasing adoption of companion animals such as cat and dogs. Furthermore, changing lifestyle in developing countries such as China and India has resulted in an increased adoption of pet animals. This is driving the animal health care market in the region. The study of the veterinary antiseptic market in these regions offers a comprehensive understanding of various antiseptic products, injuries therapies, animal welfare laws, animal statistics, marketing and branding strategies, and other core factors of the market.

The study comprises a detailed analysis of the antiseptic products, and helps in understanding various drivers contributing to the market growth in real-time and in the near future. Furthermore, the study focuses on the best practices in animal care, the science behind antiseptic and healing wounds, and the currently prevalent standards of practice in the region. Moreover, the research includes an in-depth competitive analysis and a market model in terms of competitive strategy and current market share. The stakeholders of this report include manufacturers of antiseptic products, wound and injury care products, and companies involved in the distribution of various products such as spirit, alcohol and chlorhexidine and new entrants who wish to enter the market.



Thursday 24 September 2015

3D Printing in Medical Applications Market to Register 15.4% CAGR, Europe Expected to Emerge as Leading Regional Market

Since its introduction over a decade ago, 3D printing as a technology has revolutionized manufacturing as a process. Ever increasing cost pressures on medical device manufacturers and their intense need to introduce innovative products has forced them to adopt 3D printing as a means to reduce the manufacturing life cycle and almost completely eliminate the traditional prototyping process. Traditional manufacturing techniques are based on the subtractive method where, the required product is created by cutting or drilling of the base material. 3D printing builds the desired products layer-by-layer through addition of materials. Hence, this process is also called as additive manufacturing. Although, 3D printing is actually a subset of additive manufacturing, it used synonymously with additive manufacturing in the industry. The overall 3D printing market for medical applications has been categorized on the basis of its applications, raw materials, and technology

The medical application of 3D printing is significantly increasing and the technology, according to industry experts, will revolutionize the global healthcare industry. Both potential and current medical applications of 3D printing can be segmented into several categories. Transparency Market Research (TMR) has published a report that presents a holistic overview of the global 3D printing in medical applications market. The report also evaluates the growth trajectory that the different market segments are poised to exhibit during the forecast period between 2013 and 2019. The report is titled “3D Printing in Medical Applications Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” and is available on TMR’s website for sale. 

The global market for 3D printing in medical applications will develop at a healthy 15.4% CAGR, forecasts the report. In 2012, the global market for 3D printing in medical applications stood at US$354.5 million. Expanding rapidly during the forecast period, the market is anticipated to reach an estimated valuation of US$965.5 million by the end of 2019. The report segments the global 3D printing in medical applications market into implants, surgical guides, bioengineering, and surgical instruments in terms of applications. Under surgical guides, 3D printing is used in applications such as dental surgeries, cranio-maxillofacial surgeries, and orthopedic procedures.

The raw materials market includes the market focused for use in medical applications. The raw materials market comprises of metals, alloys, polymers, ceramics and others. The market for these raw materials used for manufacturing 3D printed medical products has been extensively analyzed based on the application areas and cost. The market size and forecast in terms of USD million for each product type has been provided for the period 2011 to 2019, considering 2012 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2013 to 2019 for each.

The geographic landscape covers the major regions, namely North America, Europe, Asia and Rest of the World (RoW). The market size and forecasts in terms of revenue (USD million) for the period 2011 to 2019, considering 2012 as the base year, have been provided for this segment. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2013 to 2019 for the segment.




Emerging Trends in Global Bioinformatics Market

Perpetually advancing information technology (IT) and thereby expansion of application area of information technology into biotechnology and life science industry is escalating the growth of the bioinformatics market globally. Bioinformatics is widely used in recording, processing, and converting the data obtained from research and development activities related to life sciences namely, biotechnology, biopharmaceutical, pharmaceutical and agricultural fields; into computerized digital data that can be later used to expedite further research. This report covers the market analysis for various platforms, tools, and services commercially available in bioinformatics technology that helps deliver advanced information technology to ever growing life science fields such as molecular biology, genetics, biotechnology, biopharmaceuticals, and other life sciences.

According to a new market report “Bioinformatics Market – Global Industry Size, Market Share, Trends and Analysis,” published by Transparency Market Research, the global bioinformatics market is estimated to reach market size worth USD 9.1 Billion in 2018.

The recent developments in the field of genetics have brought a phenomenal rise in the production of biological and genetic data. This is evident from the fact that the GenBank repository of nucleic acids and sequences had 8,214,000 entries while the SWISS-PROT database contained 88,166 entries of protein sequences as of August 2000. On an average, the number of these entries has since doubled every 15 months, which if counted, would give a number so huge that no manual entry sheet would be able suffice for the entire data. Add to this the biological and genetic data resulting from the innumerous genetics related projects undertaken around the globe and one can begin to imagine the enormous amount of biological data that is already available and that is being increasingly developed every other day.

Aims of bioinformatics

Bioinformatics has threefold aims. Firstly, it manages data in such a manner that it becomes quite easy for researchers to access existing data and submit new data as they are produced. While data storage is an essential task for data management, any kind of data is practically useless unless it is analyzed. Thus, the purpose of bioinformatics is extended further because of data analysis.

The second aim of bioinformatics is to develop systems and tools to analyze data properly. For instance, after having a particular protein sequenced, it is necessary to compare it with a previously sequenced sample. To do this, a program a lot more advanced than a simple text-based comparator is required to understand the biological significance between the differences as well as the similarities in the two sequences studied. Bioinformatics aims at development of such complex tools by using expertise in computational theory and biological understanding.

The third aim of bioinformatics is to analyze the biological data through the use of complex mechanisms and convert the data in such a form that is biologically meaningful. In traditional biological studies, examining individual systems and comparison with only a few related fields was possible. But Bioinformatics has allowed the global analysis and comparison of data available from a variety of fields. Clearly, developing methods to assess the differences between different varieties of biomolecules and identifying similarities over a wide range of dissimilar sources is an essential aspect of managing the huge volumes of data and thus of bioinformatics.

The new report on the global Bioinformatics market by Transparency Market Research estimates that this double digit market growth will be driven by factors such as rising demand for digital storage of biological data from research and development activities in fields such as biotechnology, pharmacy, agriculture and other industries related with life-science.

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Monday 21 September 2015

Breast Pumps Market Expected to Reach USD 2.60 billion Globally in 2022

Breast pumps are referred to as the medical devices used by lactating mothers to express milk. Additionally these devices are also used to establish milk supply and help relive engorged breasts. These devices are regulated by the U.S. Food and Drug Administration. These pumps are designed to mimic the suckling action of the nursing baby and can act as a supplement to breastfeeding. The demand for these devices is increasing due to the rising number of working women and their growing disposable incomes. Consistent technological advances followed by introduction of breast pumps with enhanced pumping capacity, variable suction pressures, ease of operation will further enhance the acceptance of breast pumps across the globe. On the other hand high cost of these devices and strenuous maintenance of these devices are some of the limiting factors that might restrain the market growth.

Changing Consumer Preferences to Propel Electric Breast Pumps Segment

The segmentation of the global breast pumps market is based on three main parameters, which are the type of pumping system, the product design, and geography. On the basis of the type of pumping system, the global breast pumps market is classified into electric, manual, and battery-powered pumps. The electric pumps segment is further classified into hospital-grade electric pumps, and personal electric pumps. Based on product design, this market is segmented into open system pumps, and closed system pumps.

The largest share in the global breast pumps market within the pumping system segment is held by electric pumps. The market for electric pumps is primarily fueled by changing consumer preferences which involves a shift in demand from less durable devices to aesthetically sound, fast, and user-friendly devices. Apart from rising disposable incomes, the global breast pumps market is also driven by greater awareness with regard to the importance and benefits of breastfeeding.

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Breast pumps majorly differ in their mode of operation and technology used in the pumps. Manual breast pumps as the name suggests needs to be operated manually and does not support frequent breast feeding. While single electric breast pumps is upgraded version which runs on electricity and is more efficient than manual breast pumps. Hospital grade breast pumps are by far the most superior type of breast pumps loaded with many features such as high motor capacity, variable suction pressures and can be used by multiple mothers.

However, these pumps are not compact to carry due to which are not feasible to use at the workplace. Double electric breast pumps market is anticipated to record highest growth rate during the forecast period from 2014 to 2022, owing to the considerable price and efficient pumping capacity. On the other hand manual breast pumps market is estimated to record the lowest growth rate throughout the forecast period due to strenuous operation and less efficiency. In terms of volume, manual breast pumps market is the largest market segment as compared to others owing to their low cost and easy availability. 

Friday 18 September 2015

Rising Need for Sleep Apnea Diagnostic and Therapeutic Devices Fueling Growth


The global sleep apnea diagnostic and therapeutic devices market for set to reach US$6,437.6 million by 2019 from an estimated value of US$3,805.3 million in 2012. The market is rapidly growing at a CAGR of 7.8% from 2013 to 2019, states Transparency Market Research in its new report titled ‘Sleep Apnea Diagnostic and Therapeutic Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019’.

Sleep apnea devices industry is witnessing a rapid pace of technological advances that result in the development of effective diagnostic and therapeutic platforms. Sleep disorders hamper the quality of life and result in loss of productivity of an individual. Many of the sleep apnea cases are undiagnosed due to lack of awareness regarding the symptoms and effects. Untreated sleep apnea results in worsening of several health conditions such as hypertension, stroke, diabetes, heart diseases and others. Hence, diagnosis of sleep apnea is essential to maintain a healthy and productive lifestyle. Sleep studies are the most crucial diagnostic measure employed to confirm sleep apnea.

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Post diagnosis based on the severity of the condition the patient is recommended to use several therapeutic devices such as oral appliances, positive airway pressure devices, oxygen concentrator etc. Home sleep testing and sleep laboratory testing represents the two modes of diagnosis. Currently, home sleep testing with its compact and user friendly devices are preferred over the conventional equipment. This is majorly due to high comfort levels and ease of handling of these devices. The major factors contributing towards proliferation of sleep apnea devices market are persistent product modifications, introduction of novel technologies and increasing awareness of sleep apnea. On the contrary high cost of diagnostic procedures, lack of patient compliance with therapeutic devices and high degree of discomfort levels are some of the factors that might encumber the growth of sleep apnea devices market. The global market for sleep apnea devices market was valued at USD 3,805.3 million in 2012 and is estimated to reach USD 6,437.6 million by 2019 growing at a CAGR of 7.8% from 2013 to 2019.

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Sleep apnea devices market can be analyzed by diagnostic and therapeutic devices and geography. Diagnostic devices segment is further classified into four major types. Actigraphy devices are anticipated to grow at a highest CAGR of over 7% followed by respiratory polygraph throughout the forecast period from 2013 to 2019. The major reason being the compact nature of these devices and these devices support home testing with high reliability. In addition, rapid pace of technological advances and increased preference for portable and mobile devices further fuel the growth of the market. This can be evident from some of the technologically advanced development of efficient and compatible actigraphy systems along with development of various forms of pulse oximeters.

Innovation and novelty in design and features of therapeutic devices provide lucrative growth prospects for the sleep apnea devices market. This can be evident from the introduction of implantable devices based on neurostimulation along with development of portable and highly mobile treatment devices such as CPAP device developed by Human Design Medical Company. All these factors encourage the growth and uptake of these devices worldwide. Positive airway pressure (PAP) devices and oral appliances are estimated to record highest growth rates during the forecast period. The major reason being the development of custom made devices depending on the nature of symptoms and patient compliance.

The overall ophthalmology devices market is highly fragmented with the presence of both established and emerging companies in this field which includes ResMed, Inc., Philips Healthcare (Respironics), CareFusion Corporation, Fisher & Paykel Healthcare and GE Healthcare. Rigorous investments by the companies towards developing efficient diagnostic and therapeutic platforms is evident for promising growth prospects in this market. The factors that influence the proliferation of the market are perennial product amendments followed by increasing number of sleep apnea patients across the globe. However, lack of patient compliance, less favorable reimbursement scenario and high costs of the diagnostic procedures might impede the market growth.

Browse the full Sleep Apnea Diagnostic and Therapeutic Devices Market (Actigraphy, Polysomnography (PSG) systems, Positive Airway Pressure (PAP) Devices, Oral Appliances and Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019 report at http://www.transparencymarketresearch.com/sleep-apnea-devices-market.html

The global sleep apnea devices market is segmented into the following categories:

Sleep Apnea Diagnostic and Therapeutic Devices Market, by Diagnostic Devices

  • Actigraphy Systems
  • Polysomnography (PSG) Device
  • Respiratory polygraph
  • Single-Channel Screening Devices (pulse Oximeters)

Sleep Apnea Diagnostic and Therapeutic Devices Market, by Therapeutic Devices

  • Airway Clearance Systems
  • Adaptive Servo-Ventilation (ASV)
  • Positive Airway Pressure (PAP) Device
  • Oral Appliances
  • Oxygen Devices
  • Others

Sleep Apnea Diagnostic and Therapeutic Devices Market, by Geography

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)

    Tuesday 15 September 2015

    Major Trends in the Global 3D Printing in Medical Applications - Transparency Market Research

    Since its introduction over a decade ago, 3D printing as a technology has revolutionized manufacturing as a process. Ever increasing cost pressures on medical device manufacturers and their intense need to introduce innovative products has forced them to adopt 3D printing as a means to reduce the manufacturing life cycle and almost completely eliminate the traditional prototyping process. Traditional manufacturing techniques are based on the subtractive method where, the required product is created by cutting or drilling of the base material. 3D printing builds the desired products layer-by-layer through addition of materials. Hence, this process is also called as additive manufacturing. Although, 3D printing is actually a subset of additive manufacturing, it used synonymously with additive manufacturing in the industry. The overall 3D printing market for medical applications has been categorized on the basis of its applications, raw materials, and technology.

    The applications market has been focused only on the medical applications of 3D printing and further segmentation has been provided which includes implants, surgical guides, surgical instruments and bioengineered products. The market for these application areas has been extensively analyzed based on number of 3D printed products, acceptance amongst surgeons, and cost. The market size and forecast in terms of USD million for each product type has been provided for the period 2011 to 2019, considering 2012 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2013 to 2019 for each segment.


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    3D printing: The future of medicine



    Thanks to 3D printing, the medical industry has undergone a revolution. Providing multiple solutions to large problems, 3D printing has reduced the cost and time of surgical procedures and simultaneously improved patient care. The advancement in medical technology has widened the scope of 3D printing applications and the trend of using customized 3D printed medical products has risen over the years. Moreover, private agencies and government bodies have contributed in terms of funds and encouragement that have propelled the growth of the 3D printing in medical applications market. A move that can increase the prospect of the industry is seeking acquisitions by software companies in the field of 3D designing. The factors which curb the development of the 3D printing market are fewer trained professionals and lack of raw materials.



    Economic scenario



    The worldwide market for 3D printing in medical applications was estimated to be worth USD 354.5 million in 2012 and is expected to be valued at USD 965.5 million by the year 2019, growing at CAGR of 15.4%. Region-wise North America dominated the overall industry in 2012, accounting for the largest market share. However, trade analysts have predicted that due to the increase in government funding as well as joint ventures and acquisitions, Europe will be the fastest growing region with a CAGR of over 15% between 2013 and 2019. Europe also owes this growth to positive reimbursement policies. 

    Monday 14 September 2015

    Global Surgical Equipment Market to Amplify with Burgeoning Demand for Minimally-Invasive Procedures

    Surgical equipment are used for a number of functions during surgical procedures such as making incisions, holding organs and tissues back, grasping certain tissue or skin, providing access to site of operation, coagulation of blood vessels and closing the wound by stitching or stapling. The most commonly used surgical equipment include sutures and staples, surgical handheld instruments (scalpels, forceps, retractors and scissors) and electrosurgical devices. The report on global surgical equipment market studies the current scenario as well as the future market potential for different surgical equipment that are used extensively in various surgical procedures. In this report, the market for surgical equipment has been segmented into three major product types, namely:

    1. Surgical Sutures and Staples
    2. Surgical Handheld Instruments
    3. Electrosurgical Devices

    During surgical procedures, surgical equipment such as sutures, staples, scalpels, forceps, retractors, scissors, and electrosurgical devices and are used for a variety of purposes such as making incisions, holding organs and tissues back, grasping certain tissue or skin, providing access to site of operation, coagulation of blood vessels, and closing the wound by stitching or stapling. The most commonly-used surgical equipment includes sutures and staples, surgical handheld instruments (scalpels, forceps, retractors and scissors), and electrosurgical devices.


    The global surgical equipment market was estimated at US$8.43 billion in 2012 and is predicted to grow at a CAGR of 4.2% between 2013 and 2019, to reach an estimated value of US$ 11.28 billion by 2019.

    Electrosurgical Devices Segment to Represent Highest Growth

    The global market for surgical equipment, based on product, has been segmented into three major types, namely, surgical sutures and staples, surgical handheld instruments, and electrosurgical devices. Among these, the surgical sutures and staples market has been additionally segmented into surgical staples and surgical sutures; while the market for surgical handheld instruments has been segmented into forceps, scalpels, retractors and scissors.

    The surgical sutures and staples segment constituted the largest share (55.6%) of the overall surgical equipment market revenue in 2012. However, in the forecasting horizon 2013 to 2019, due to sluggish growth rate, it is expected to lose a part of its share. Nonetheless, the electrosurgical devices market segment is predicted to depict the highest growth, with 6.1% CAGR, because of the increasing demand for minimally-invasive procedures that comprehensively use these devices. Electrosurgical devices include instruments, radiofrequency generators, and other accessories, which are utilized in the course of numerous surgical procedures to cauterize, cut, coagulate tissues and luminal structures by utilizing high frequency electric current.

    Minimally Invasive Procedures are in Demand. What Does this Mean for the Surgical Equipment Market?

    Owing to advantages such as precise incision, negligible blood loss, decreased post-surgery complications and side effects, quicker recovery span and shorter period of hospital stay; minimally invasive procedures are encountering more demand over almost every medical specialty. Augmented demand for minimally-invasive procedures is prone to trigger market development for electrosurgical devices. Few other factors anticipated to drive market development are continuous addition to surgical procedure numbers, exponential expansion of the elderly population, and technological advances in the zone of product development. 

    Tuesday 8 September 2015

    Radiopharmaceuticals Market: Inconsistent Transportation Logistics of Radioactive Substances Act as Major Restraint

    Radiopharmaceuticals are medicinal formulations containing radioisotopes that are found to be harmless for humans and can be safely administered for a therapy or diagnosis. Certain radiotracers (called radiopharmaceuticals), the chemical compounds with one or more atoms replaced by a radioisotope, have been traditionally used for imaging disease states and functional morphology of organs. Unlike other popular imaging modalities such as magnetic resonance imaging (MRI), ultrasonography (US), and computed tomography (CT), imaging procedures that use radiopharmaceuticals can also map metabolic activities and physiological functions, thereby giving more precise and specific information about function or dysfunction of an organ or metabolic activity.

    Studying the use of radiotracers for therapeutic purposes had begun immediately after the discovery of radioactivity, however, it was not until cyclotrons became available for the acceleration of particles to fabricate radioisotopes that a significant medical application of radiotracers came into being. Radioiodine, for instance, was introduced in 1946 for treating thyroid cancer, and remains till date the most effective method for the treatment of the condition as well as hyperthyroidism.


    Mapping the distribution of a radiopharmaceutical element in a body provides images of organ functions in a non-invasive manner and helps diagnose many common health conditions associated with malfunctioning organs as well as the detection of certain cancers. The extensive use and rising demand for imaging techniques that use radiopharmaceuticals are directly attributable to the enormous development observed in the global market for radiopharmaceuticals and has led to the availability of a huge range of specific radiopharmaceuticals.

    Market Scenario

    Currently, there are more than 100 radiopharmaceuticals in the global market, which are used for the diagnosis of a variety of diseases and for the therapy of a few, including cancer. Transparency Market Research, a U.S.-based market intelligence firm, states in one of its reports that the global radiopharmaceuticals market will grow at a remarkable CAGR of 18.3% between 2012 and 2018. The report also states that the market, which had a net worth of US$3.8 billion in 2011, will reach US$12.2 billion by 2018. Canada’s prominence in the global radiopharmaceuticals market as the largest exporter of uranium and nuclear technology has led the regional market in North America towards a position of dominance in the global marketplace.

    While the market’s growth prospects are huge, the market faces a number of challenges that make exploitation of these opportunities a bit difficult. Elucidated below are some key challenges that the market for radiopharmaceuticals faces:

    Low global production of Radiopharmaceuticals: Unlike the production of conventional pharmaceuticals, the production of radiopharmaceuticals still happens on a relatively small scale across the globe. Implementing the current good manufacturing practices (cGMP) guidelines in radiopharmaceutical manufacture is also a very difficult and expensive process. Ensuring cGMP compliances can especially become a demanding task for small-scale manufacturers. 

    Complex manufacturing cGMP code compliance: Manufacturing of radiopharmaceuticals involves taking care of a number of aspects prior to, during, and after the manufacturing process. It requires the use of controlled procedures and materials, qualified personnel to look after the entire process, production in designated clean rooms, detailed documentation of the process, application of analytical and validated methods, and the release of the final product by a qualified person. 

    Troubles and delays in transportation of radioactive substances: Transport of radioactive materials is a highly complex matter. Many troubles and delays, the need for obeying transport regulations, and the denial of shipment by certain transport bodies often affect the final use of imported radiopharmaceuticals. Some countries follow the practice of holding up all the cargo for 24 or 48 hours before loading it on the plane, for security purposes. This also leads to a negative effect on the overall properties of radiopharmaceuticals due to radioactive decay of the substance, especially in radioactive materials of extremely short half lives.