Appeal of Young Look among Baby Boomers Drives Anti-aging Market

Baby boomers advancing towards retirement are determined to defy the aging process. Every year, they spend millions of dollars on face-lifts, wrinkle creams, and workout regimens in pursuit of their ‘forever young’ mindset, which cosmetic product manufacturers, cosmetic surgeons, and entrepreneurs are eager to capitalize on. Baby boomers constitute a 70-million-strong group for legions of businesses to target.

The Boomers, who grew up in America’s postwar prosperity, are regarded as a more privileged generation than any before them. From top-of-the-line incomes to widespread government subsidies for post-war education and housing, they were the wealthiest and the most physically fit generation. 

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Nevertheless, often criticized for rejection of traditional values and their characterization of excessive consumerism, the boomers were a disparate lot.  The demographic group that embraced fashion in every department, self-care and looks being foremost to keep with their modernist mindset.

Health Issues and Aging Now upon Baby Boomers 

With baby boomers already in their 60s, aging and health problems have already struck upon individuals of the age group. Their impending retirement from the workforce has also weighed heavy on this demographic. Nonetheless, in true baby boomer style, this group will probably approach the state in a new way. Regardless of aging, baby boomers are emphatic upon staying in their homes and communities and not in assisted-living settings, which necessitates the usage of anti-aging products and services. 

Hence, the desire of the baby boomer generation to retain their youth is expected to be a major revenue generation channel for the anti-aging market in the coming years. As a result, the anti-aging market, which amounted to a value of US$122.3 bn in 2013, is slated to shoot up to US$191.7 bn by 2019, says a recent market study by Transparency Market Research (TMR).

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TMR analysts have presented the views of the vendors of anti-aging products and the medical community about the use of anti-aging products and services:

1) Anti-aging enthusiasts assert that the use of recognized deficit-correcting treatments and oral supplements helps in the near term as well as long run with increased life expectancy. On the contrary, critics as well as the most of the medical fraternity contend that anti-aging interventions do not give desired results and may also be harmful. 

2) Mainstream organizations such as the National Institute on Aging advise consumers to be wary about possible scams due to false promises labeled on anti-aging products. Rather, the institute contends aging to be normal, which cannot be slowed or reversed with the use of pills or treatments that claim to lead to endless youth.

3) North America is the dominant market for anti-aging products and services due to a large concentration of the baby boomer population. Baby boomers constitute 44% of the U.S. population and account for 70% of the disposable income in the country, thereby accounting for a large total expenditure on aesthetics enhancing and anti-aging products.

Ostomy Drainage Bags Market to Report Modest Yet Steady CAGR of 4.7% as Patients' Awareness Levels Rise

An ostomy drainage bag plays a crucial role in the collection of the waste excreted by a patient. The use of this prosthetic medical device is necessitated after an ostomy – a procedure that entails the diversion of waste from the natural biological system (such as the bladder, colon and ileum) to an artificially created stoma within the abdomen. The global ostomy drainage bags market has shown steady expansion in recent years, thanks in part to a rapid growth in the number of ostomy procedures conducted globally. The reported increase in ostomy procedures is a result of the rising incidence of diseases such as bladder cancer, colorectal cancer, inflammatory bowel disease and Crohn’s disease. According to market research analysts, the global ostomy drainage bags market will report a CAGR of 4.7% between 2014 and 2022, by which year it would be worth US$2,759.5 million.

Initiatives to Clear Misconceptions about Ostomy Augur Well for Ostomy Drainage Bags Market

There are several factors that have supported the growth of the global ostomy drainage bags market. For one, a greater degree of awareness that has been created via initiatives such as the World Ostomy Day (observed every year on October 6 worldwide) has helped increase the adoption of ostomy drainage bags. Moreover, a number of institutions in the healthcare industry have taken active measures to help patients clear misconceptions associated with ostomy as well as the use of ostomy bags. With the alleviation of the stigma associated with ostomy drainage bags, there has been a gradual yet steady increase in the demand for them.

However, these initiatives need to be implemented in several other emerging and developing markets where awareness levels still remain dismal. If companies and healthcare organizations are able to encourage awareness in emerging markets, the scope for growth will expand as well.

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Colostomy Bags are Most Commonly-Used Product in the Global Ostomy Drainage Bags Market 

There are several key product types within the global ostomy drainage bags market. These include: Colostomy bags, urostomy bags, and ileostomy bags. As of 2013, colostomy bags were seen to be the most dominant segment within the global ostomy drainage bags market. This can be ascribed to the high occurrence of colorectal cancer worldwide. Moreover, a greater degree of awareness pertaining to colostomy now exists – this consequently leads to more colostomy bags being used after the procedure.

In emerging countries in the Latin America and Asia Pacific region, market players offer a number of purchase and pricing options for colostomy bags. This has proven favorable for the growth of the overall ostomy drainage bags market. In the backdrop of these asspects, the ostomy drainage bags segment will see the fastest rate of growth between 2014 and 2022, states a recent market research report.

Market Analysts Observe Higher Demand for Multi-use ostomy Drainage Bags

The ostomy drainage bags market offers single-use as well as multi-use bags. Of these, the market for multi-use ostomy drainage bags was reported to be larger in 2013. The demand for multi-use ostomy drainage bags is higher because they are the product of choice in surgical procedures such as urostomy and ileostomy.
The key advantage of the multi-use ostomy drainage bag is that it can be irrigated and re-used to help patients save costs without compromising on their hygiene and safety. This also gives a multi-use ostomy drainage bag an advantage of its single-use counterpart. The trend is especially relevant to markets such as Asia Pacific and Africa where consumers are conscious of cost.

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Global Cell Culture Market to Reach US$11.3 bn by 2022 due to Rising Demand in Stem Cell, Cancer Research

Cell culturing is a process through which cells are grown away from their natural environment in controlled laboratory conditions. Cell cultures help in carcinogenesis and mutagenesis studies and for studying the biochemistry and physiology of cells, the effect of biomolecules and drugs on cells, and is used in cellular and molecular biology. Cell culture provides reproducibility and consistency of results that is achieved by the usage of a batch of clonal cells. Research into various diseases such as Alzheimer’s, Parkinson’s, and diabetes uses cell culture to study cellular mechanisms.

The global cell culture market is expected to reach a value of US$11.3 billion by 2022, growing at a CAGR of 7.1% from 2014. Globally, the cell culture market is experiencing tremendous growth due to the demand for biopharmaceutical products. The cell culture market is expanding due to the amplified biologic drugs market and related uses in vaccines, proteins, and antibodies. Stem cell therapy is used for treating a variety of diseases and increase in stem cell research is directly boosting the cell culture market.

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Advent of New Research Technologies and Increased Investment Boost Cell Culture Market 

Government initiatives for improvement of healthcare infrastructure and investment in research are the prime reasons for the augmentation of the global cell culture market. Private and public investment in biological products is also a major factor responsible for boosting the cell culture market. The global cell culture market is expanding and providing great market opportunities due to progression in cell culture technologies such as 3D cell culturing by magnetic levitation, nano-particle facilitated magnetic levitation, and recombinant DNA.

Cell cultures are used for biological manufacturing, cancer research, gene therapy, stem cell research, IVF technology, diagnosing diseases, and for drug screening and monitoring. Investments by life science organizations and collaborations between industries and academic centers are propelling the global cell culture market.

Cell Culture Media Expected to Grow Fastest

The segmentation of the cell culture market by product type breaks down the market into two categories: instruments and consumables, which are sub-segmented into reagents, media and sera. Cell culture media are the most rapidly growing segment owing to them being animal-derived component free (ADCF). The instruments segment is broken down into the sub-segments of cryostorage equipment, roller bottle equipment, incubators, pipetting instruments, and culture systems. Technological innovations and demand for automated culture is driving the demand for this segment.

In North America, large-scale drug development and the presence of major companies dealing in biotechnology, pharmaceuticals, and food and beverages made the region the largest regional cell culture market in 2013; Europe follows North America in the market hierarchy. Asia Pacific is anticipated to grow rapidly as a regional cell culture market due to economic improvement in countries such as India, China, Japan, and Australia. Rest of the World (RoW) and Latin America are also expected to grow substantially owing to augmented investment by private and public institutions in life science research.

Key players in the global cell culture market include BD Biosciences, EMD Millipore, Thermo Fisher Scientific, Corning Incorporated, Sigma-Aldrich Corporation, Inc., GE Healthcare, VWR International, PromoCell GmbH, and. Lonza Biosciences.

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Small Animal Imaging Market: Extensive Application of Preclinical Imaging Modalities at Clinical Research Organizations Will Push Market At 8.6% CAGR during 2014-2020

Small animal imaging technology has marked itself as the most useful tool in preclinical research globally. The technology has proved to be of great importance in developmental biology studies and drug development research programs. Being non-invasive, longitudinal studies are possible with accurate and detailed analysis. The global small animal imaging market has been studied from three main perspectives: by devices, by reagents, and by application areas. The devices in the preclinical imaging market include micro-computed tomography (CT), micro-magnetic resonance imaging (MRI), micro-positron emission tomography (PET) and micro-single positron emission computed tomography (SPECT), multimodal imaging, optical imaging, micro-ultrasound imaging and micro-photoacoustic tomography (PAT). The contrast reagents market has been studied for CT, MRI, nuclear imaging, optical imaging and ultrasound imaging technologies.

Although small animal imaging has been extensively used in various research areas, the market for

key application segments has been estimated. These segments include oncology, cardiology, autoimmune, neurology and psychiatry, and other applications. A detailed market analysis and forecast for each of these segments have been provided in this study in terms of market revenue (USD million) for the period 2012 to 2020. The report also provides the compounded annual growth rate (CAGR %) for each of these segments for the forecast period from 2014 to 2020, considering 2012 and 2013 as base years. Furthermore, the global small animal imaging market has also been divided according to major geographies: North America, Europe, Asia Pacific and Rest of the World.

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Global Small Animal Imaging Market – Regional Analysis, Prevailing Trends, and Restraints

Regionally, the global small animal imaging market is led by Europe and North America due to factors like high rate of adoption of expensive devices, frequent product launches, and greater activities with regard to preclinical research. The rapidly growing markets in the global small animal imaging market are the Asia Pacific and Rest of the World. These two regions are primarily driven by greater industry based funding for carrying out pharmaceutical based preclinical research, and increasing number of CROs.

The growth and performance of the global small animal imaging market can be attributed to higher research funding activities, and greater technological advancements. There has been a surge in the demand for reagents because of increasing number of reagent manufacturers, frequent purchase, and high shelf life of the devices.

Most of the companies operating in the global small animal imaging market are focusing greatly on improving multimodal imaging devices that are MRI based, like MRI and PET devices. This trend is expected to drive the global small animal imaging market by way of greater growth opportunities in the years to come. The main growth inhibitors in the global small animal imaging market are limited access to nuclear imaging reagents, and slow rate of adoption propelled by steep development costs.

Some of the prominent players operating in the global small animal imaging market are Targeson, Inc., SCANCO Medical AG, Siemens AG, Promega Corporation, Perkin Elmer, Inc., Miltenyi Biotec GmbH, FujiFilm VisualSonics, Inc., LI-COR Biosciences, Inc., TriFoil Imaging, Inc., Bruker Corporation, Aspect Imaging, and Agilent Technologies, Inc.

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Future of Pharmacovigilance Market

According to the World Health Organization (WHO), pharmacovigilance is an activity aimed at promoting safe management and administration of drugs. Severe government regulations, drug inspection rules, and the patient’s need to immediately report illnesses have propelled the global pharmacovigilance market. Innovations in medical products that promote faster and more accurate treatment of various diseases will enable rapid development of the global pharmacovigilance market during the forecast period.

Intensifying regulatory expectations, tougher inspection system, and instant need for patient reporting boost

the adoption rate of pharmacovigilance among pharmaceutical companies. Rise in the prevalence of

acute and chronic diseases has consequently led to an increase in the incidences of drug consumption, thus leading to growth in the number of adverse drug events and drug toxicity cases. Furthermore, safety regulations, risk of high-profile safety issues, large volume of post-market events to be reviewed along with negative media coverage have bound the pharmaceutical players to take support of various outsourcing services for drug monitoring. Two major outsourcing providers preferred by pharmaceutical manufacturers for pharmacovigilance services are namely, traditional CROs (e.g. Covance, Inc., Quintiles Transnational, INC Research, etc.) and BPOs (e.g. Capgemini, Cognizant, Infosys Ltd., Tata Consultancy Services Limited, etc.). Outsourcing services do not only help in cost saving, but also support process efficiency. Pharmaceutical companies are now entering into long-term partnerships/service agreements with CROs and BPOs to reduce the pharmacovigilance process related expenditure, incurred right from drug discovery to post-marketing approvals.

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In addition, pharmacovigilance requires skilled resources with excellent language skills and strong knowledge pertaining to case reporting due to which pharmaceutical companies are opting for outsourced pharmacovigilance services in order to reduce the burden of clerical functions as well as capital expenditures.

Pharmacovigilance is a key component of an effective drug regulation system for monitoring and evaluating adverse drug reactions (ADRs). Pharmacovigilance activities are an important part of clinical research and are growing at a significant pace. At present, the global network of pharmacovigilance centers, harmonized by Uppsala Monitoring Centre, are operating on the global level for appropriate functioning of the process of drug safety monitoring across the world. Large volume of international ADR reports collected in a central database would serve as a contributing factor to the effort of national drug regulatory authorities, thus improving the safety profile of drugs that would help avoid drug related disasters.

However, the pharmacovigilance market is facing several hurdles and challenges to develop a better health care system. Challenges that are acting as major restraining factors for pharmacovigilance market are web-based drug information and sales, perceptions to harm and benefit, high risk associated with data security and unavailability of skilled professionals.

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Key Factors Fuelling Medical Waste Management Market

Every year a substantial amount of medical waste is generated around the world owing to the overall growth of the healthcare industry and increasing geriatric population. Medical waste is primarily generated in healthcare settings such as nursing homes and hospitals, physician’s chambers, diagnostic laboratories, veterinary centers, and pharmaceutical companies. The waste generated from these healthcare sectors can be categorized in four major segments, namely hazardous, infectious, radioactive, and general waste.

Continuously expanding healthcare industry supported by growing population with geriatric population in particular has led to the generation of substantial amount of medical waste, each year, over the world. These medical wastes have been categorized into four major types, namely, infectious, hazardous, radioactive and general wastes. Of these infectious, hazardous and radioactive medical wastes being potentially risky to human as well as environment are required to be disposed of with special caution. General wastes which are similar to common domestic and official wastes and do not require special treatment. There are a large number of companies that offer waste management services to healthcare facilities seeking help for medical waste disposal. The medical waste management market was valued at USD 14,541.5 million in 2012 and is expected to reach USD 20,130.1 million in 2019, growing at a CAGR of 4.8% during the forecast period 2013 to 2019.

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Almost 80% of the medical waste generated every year consists of plastics, papers, and other materials that are quite similar to general household or office waste. But the remaining 20%-25% consists of bioactive waste materials such as used syringes, blood-soaked bandages, cultures, stocks, unused or expired medicines, and many more, which are harmful to both humans and the environment alike. Such waste products need to be disposed of properly. Poor handling of these wastes has the potential of exposing patients, waste handlers, and healthcare professionals to serious infections.

Geographically, North America held the majority share of the overall medical waste management market, followed by Europe that accounted for the second largest share. These two regions are expected to retain their position throughout the forecast period 2013 to 2019. Governmental regulations mandating proper disposal of medical waste across North American and European countries has been considered as one of the major factors driving market growth in these regions during the forecast period. In Asia-Pacific region, Japan, Australia and New Zealand are the major markets that offer immense opportunities to waste management companies operating in this market. However, in countries like India and China, the market is highly untapped owing to low awareness level and due to lack of strict governmental regulations. In Rest of the World (RoW), Brazil, Mexico, South Africa, Israel, Turkey and UAE are the major markets where medical waste management market is expected to record maximum growth.

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Stericycle, Inc., Waste Management, Inc., Republic Services, Inc., Veolia Environmental Services, Suez Environment SA, Clean Harbors, Inc. and US Ecology, Inc. are some major companies providing various waste management services to healthcare facilities seeking help for waste disposal.