Enhanced Features of Chatbots to Aid Employment across Several Enterprises

A chatbot refers to an artificial intelligent robot which has been designed to interact or communicate with humans through auditory or textual methods, basically over the internet. It is a computer based software that enables conversation between machine and human via artificial intelligence. A chatbot is programmed and designed to support text, speech recognition, and animation to provide a virtual user interface. Chatbots employ natural language processors to encourage a conversation with the user leading to an enhanced customer experience in applications such as healthcare, retail, and e-commerce. These chatting robots may be accessed via several platforms such as computers, smartphones, social networking websites, and hypertext markup language (HTML) pages. They can interact with their users using several languages and graphical designs and format based on the application of the end user such as a 3D animated creature, animal, or a cartoon character. 

According to a report published by Transparency Market Research, the global chatbot market is expected to witness an outstanding 27.8% CAGR between 2016 and 2024. In 2015, the market was valued at US$113.0 mn and is projected to rise to a valuation of US$994.5 mn by the end of 2024. 

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How are large enterprises efficiently utilizing the features of the chatbots?

The global chatbot market can be simplified into two simple segments according to the size of the organizations that use them. The medium and small enterprises are dwarfed by the growing utility of chatbots in large enterprises. Large enterprises regularly employ chatbots for customer engagement procedures and promotional activities. The extensive use of chatbots helps these enterprises to expand their consumer pool and lift their promotional rate. Over the coming years, the large enterprise’s segment is expected to lead the global chatbot market in terms of revenue. 

These enterprises are also likely to benefit from the automation of business process that chatbots are likely to bring into function, thus further increasing their involvement in social media and improving the marketing of their products. Thus, leading companies are also introducing new robots to fulfill the consumer demands. For instance, recently Microsoft released another experimental chatbot known as Zo. It was released on the social app Kik. 

How is the shortfall in the capabilities of chatbot likely to act as a hindrance in the growth of the market?

The primary factor that is expected to hinder the growth of the global chatbot market is the improving capabilities of chatbots as compared to the fields it can be employed in. Although, voice messaging and text messaging are accepted across several industries, there are certain issues that still need to be addressed such as integration, security, monitoring, and chatbot management. 

Which region should be the main focus for the chatbot manufacturers?

Among all the regions of the global chatbot market, North America led the market in 2015 with a valuation of US$52.7 mn and is expected to continue its domination over the market until 2024. The growing innovation in chatbot and advancement in robot technology along with demand for easy services are the primary factors driving the growth of the market. However, Asia Pacific is also expected to exhibit significant growth over the forthcoming years. 

Mobile TV Market - Driven by High Penetration of Smartphones, Number of Mobile TV Subscriptions to See More Takers

Owing to the high penetration of tablets and smartphones among consumers, the demand for advanced services has also considerably increased. According to a recent survey, in 2016, the number of internet users has risen to approximately 3.4 billion with a penetration rate of over 46%. The development of advanced tablets and smartphones with enabled television service is likely to fuel the rate of mobile TV subscriptions. 

According to a report published by Transparency Market Research (TMR), the global mobile television market is likely to expand at a 9.5% CAGR from 2016 to 2024. In 2015, the market stood at a valuation of US$7.69 bn and is estimated to be worth US$17.02 bn by the end of 2024. Regionally, Asia Pacific held the leading share in 2015 in the global mobile TV market is projected to maintain a lead until 2024. The rising demand for mobile television in Asia Pacific is likely attributed to the mounting adoption of pay TV services owing to the increasing number of television handsets in the region. 

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Which regions are expected to emerge as the leading contributors to the growth of the global mobile television market?

The mobile TV market is spread across regions such as Latin America, Asia Pacific, Europe, North America, and the Middle East and Africa. Of these regions, Asia Pacific emerged as the most lucrative market owing to the high penetration of TV-enabled smartphones coupled with the rising subscriptions of mobile television services. Furthermore, the mobile TV markets in the Middle East and Africa and Latin America are expected to grow at a significant rate as a result of the improving economic strength of the countries in these regions and mounting investments in long-term evolution (LTE) networks. 

Developed countries are also taking initiatives to expand mobile TV services and enhance their adoption among various sections of consumers. For instance, recently, a leading multinational telecom conglomerate of the U.S., AT & T, added direct TV mobile and TV everywhere services to its existing list of services. This development is expected to increase the subscription of mobile TV services to 30 million mobile phones in the U.S.

How are alternative mediums likely to affect the growth of the mobile TV market? 

Alternative mediums such as online video streaming platforms and pay websites are expected to impede the adoption of mobile TV in the forthcoming years. Many online channels and websites provide free video services to consumers. All that consumers have to do is avail an internet pack. Moreover, government laws concerning net neutrality are further expected to emerge as challenges for mobile television service providers. The high cost of mobile TV subscriptions being provided by leading telecom operators is another factor that is likely to inhibit the global mobile TV market growth. 

Which service is likely to create profitable growth opportunities for service providers? 

Telecom operators in the global mobile TV market provide services such as pay TV and free to air services. Among these, the most popular services are the pay TV services which also include video on demand. The rising demand for premium video content on regional channels such as movies and live sports through mobile TV services is anticipated to fuel the adoption of video on demand (VoD) services. However, the share of free to air services is likely to decline over the coming year as a result of the shifting consumer preference towards premium video and television content.

eDiscovery Market to Witness Significant Growth with Increasing Usage of Mobile Devices

eDiscovery solutions are being increasingly adopted by governments and regulatory agencies. Increasing volume of electronically stored information (ESI) and growing usage of social media in organizations has increased the demand for on-premise as well as off-premise eDiscovery software solutions. With legal work continuing to move in-house at corporations, internal experts are focusing on cyber security and eDiscovery solutions. The global eDiscovery market is estimated to expand at a CAGR of 16.2% during the period between 2014 and 2020. The global eDiscovery market was worth US$5.5 bn in 2013.

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eDiscovery Solutions: Steep Costs Restrain Organizations from Investing in eDiscovery
It is no secret that eDiscovery solutions are costly. In fact, it has been estimated that eDiscovery costs alone account for around 90% of litigation costs. The high cost associated with eDiscovery processes is expected to hinder the growth of the global eDiscovery market. Investing in eDiscovery becomes more expensive if organizations do not take some preparatory steps. To minimize exposure to steep eDiscovery costs, following are some of the proactive steps firms need to take:

Record Retention Policy: In a year, the total amount of data received or generated by the average office worker is huge. Though the cost of hard drives has relatively gone down and allowed companies to buy more storage space, this is not the ideal way out. Organizations need to devise a record retention policy that determines when documents can and should be deleted.

A Catalogue of Historical Organizational Charts: A good organizational chart helps immensely during legal investigations. It has been pointed out by courts that organizational charts are usually neglected while analyzing discovery failures. Using and updating an organizational chart makes it easier for companies during legal hassles.

Data Map: A data map is of utmost importance to keep a track of all the different locations where ESI has been stored. An ideal data map would reveal the various network storage location, computers, handhelds, and cloud servers that the organization uses for its business purposes. Further, a data map would also note which of those sources come under automatic deletion protocols.

Legal Hold Plan: By designing implementation and monitoring procedures, organizations can streamline the time-sensitive process of implementing a legal hold.

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There is no foolproof way to avoid liability when it comes to electronic data. However, a good eDiscovery strategy helps in this regard immensely. In the near future, the growing usage of mobile and handheld devices is anticipated to instigate the next eDiscovery wave. Civil litigations and regulatory audits will be witnessing a radical shift with the increased amount of digital data and introduction of advanced eDiscovery tools. With the development of new eDiscovery tools, the overall eDiscovery process is evolving rapidly. Organizations need to update their eDiscovery strategies accordingly.

Weight Loss Stomach Pump Market - Latest trends in Healthcare Industry: Future trends and Market Forecasts by 2024

Weight loss stomach pump is a device which provides effective control over the calorie absorption by the body. It is an external pump that spill of stomach contents into the toilet. The device is a minimally invasive which includes a tube that goes inside the stomach to port outside. The device is used to lose weight easily than people who use to have controlled diets, surgery or batch of devices to make the stomach smaller. Patients need to be regularly monitored by the health care provider and should be guided by a diet consultant in order to reduce their calorie intake.  As per the clinical trials reports, the average patient observe a loss in 46 pounds in the first year and 50 pounds in the following year. 

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Weight loss stomach pumps are usually utilized by bulimia or assisted bulimia patients of an age 22 or more. Weight loss stomach pump usage are expected to grow at a high rate owing to increase in a patient with more obesity problem and bypass gastric surgery. Weight loss stomach pump market is expected to grow at a significant CAGR due to their ability to lose the weight of the body with minimum invasiveness. Moreover, an increase in obesity and bulimia patients, fewer side effects, develop in life style habits, and increase in non-surgical treatment worldwide will also support the market growth. However, side effects associated with surgery are certain challenges which may hamper the market of weight loss stomach pump.

The weight loss stomach pump market has been segmented by disease type, by end-user, and by geography. In terms of disease type, the weight loss stomach pump market has been categorized into anorexia, bulimia, and diabetes. Unhealthy lifestyle is influencing in increasing obesity associated diseases among healthy habitat. Hence, weight loss stomach pump would play a major part in an effectively control over obesity. The end-users for the market include hospitals, nursing homes, clinics, and others. The weight loss stomach pump provider’s offer specialized programs to the end-users assisting in management of health plans by offering solutions to increasing costs of complexities during treatment.

Geographically, weight loss stomach pump market is segmented into two major regions: North America, and Europe. North America was observed to be the largest weight loss stomach pump market due to extensive technological advancements in the region. Countries such as the U.S. and Canada have been successful in implementing weight loss stomach pump in their healthcare system, which as a result would boost the market growth. Moreover, the presence of other developed healthcare infrastructure, promising government initiatives in executing weight loss stomach pump in the current healthcare infrastructure, and constantly improving reimbursement scenario would further propel the market growth. Europe was observed to be the second largest market in the weight loss stomach pump owing to enhanced weight loss therapy in the healthcare processes and implementation of stomach pump, a weight loss device in the region.

In June 2016, the U.S. Food and Drug Administration approved a new obesity treatment devices such as Aspire Assist System which is applicable on patients who are moderately overweight. The FDA reviewed results from a clinical trial of 111 patients treated with AspireAssist and appropriate lifestyle therapy. In August 2015, the ORBERA Intragastric Balloon System is a weight-loss system, which uses a gastric balloon that occupies space in the stomach to help patients lose weight. Patients with ORBERA lost an average of 21.8 pounds (10.2% of their body weight) after the device had been in place for six months. The major players operating in this market include Apollo Endosurgery, Inc.( ORBERA® balloon), Aspire Bariatrics, Inc.( AspireAssist System), among other significant players worldwide.

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The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

Global Homeopathy Products Market - Increasing Awareness about Herbal Medicines Drives Growth Across the Globe

Homeopathy is alternative medicine, which was established in Germany in the later part of the 18th century. It is based on the idea of ‘Law of Similars’. According to this principle, if a matter can produce symptoms in a healthy individual, it can treat similar symptoms in a sick individual. Homeopathic medicines are composed of natural substances in extremely diluted amounts for the treatment of a number of ailments. These medicines are prepared by repeatedly diluting and vigorous shaking of the original substance preparation in water and alcohol. Post dilution, the medicine is added to pillules or lactose tablets.

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The global homeopathic products market is on the rise due to the increasing demand for homeopathy for the treatment of several diseases. According to the World Health Organization, homeopathy is the second largest medicine system displaying a growth rate of 20-25% each year. This is because homeopathy has reportedly proven to be effective for the treatment of several acute and chronic diseases. Though there is a lack of understanding of working of homeopathic medicines, these medicines are believed to be active and are curative.

The increasing participation of several new players is also leading to the growth of the global homeopathy products market. These players are focused on the utilization of new technologies for the development of more effective products.

North America is the largest regional market for homeopathy products due to several factors. These include increasing preference of individuals for natural and holistic medicine and favorable reimbursement policies for the same. Europe is the second-largest market for homeopathy products. In the U.K., homeopathy is fully recognized as a curative medical practice and is covered by public health insurance. Asia Pacific is emerging as a significant market for homeopathy products due to the rapid advancement of the healthcare industry in emerging economies and the revival of alternative medicine for fewer side-effects. According to a study carried out by the Associated Chambers of Commerce and Industry of India in 2011, the domestic homeopathy market is expected to reach new heights in the coming years.

Some of the leading players in the global homeopathy products market are Hahnemann Laboratories Inc., Natural Health Supply, SBL, Hyland’s Homeopathic, and Nelson & Co. Ltd.

Remote Breathalyzer Market Increasing Alcohol & Drug Abuse Cases Boosted Growth; Global industry Analysis & Forecast upto 2024

From the public safety point of view, it is very important to keep drunk drivers off the roads. As per the data by the Center for Disease Control and Prevention (CDC), in the U.S. alone, approximately 10,000 people die each year in driving crashes due to driving while drunk. A breathalyzer is a device for estimating blood alcohol concentration/content (BAC) from a breath sample. In most of the countries, alcohol intoxication is legally demarcated by the blood alcohol concentration (BAC) level and a driver is prohibited from driving when their blood alcohol concentration (BAC) is .08 grams per deciliter (g/dL) or higher. Withdrawing blood or urine sample at the site and examining it later is not feasible and practical and hence the possibility of estimating BAC indirectly by assessing the amount of alcohol in one's breath poses good market opportunity for these devices. 

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Remote breathalyzer is a portable electrochemical fuel cell-based instruments used for preliminary breath test (PBT) or preliminary alcohol screening (PAS) which is performed in the field. These devices works on the principle of a chemical reaction between sulfuric acid, potassium dichromate, silver nitrate and water. Alcohol present in the air is absorbed by the sulfuring acid and the solution color changes from reddish orange dichromate ions to green chromium ions. The reaction is catalyzed by the presence of silver nitrate and the degree of the color change is used to quantify the amount of alcohol in the exhaled air. The standard mixture (unreacted) in the photocell system is compared with the reaction mixture to compute the BAC.

On the basis of technology, remote breathalyzers can be classified into three categories: fuel cell testers, semiconductor oxide-based testers, and spectrophotometer testers.  Fuel cell-based breathalyzers are more sensitive and are classified as professional level testers.  They are also portable and give an extremely accurate reading. Fuel cell testers define intoxication levels through the alcohol oxidation in breath samples. The device enables a chemical reaction with alcohol to generate an electric current. The current produced is proportional to amount of alcohol in the blood and used as a measure to scale a persons’ BAC. Spectrophotometer testers are not portable and use infrared light for alcohol detection. Semiconductor oxide-based testers are relatively new to the market and use alcohol-based sensors to estimate alcohol level in blood. However, semiconductor oxide-based testers are not very accurate and are categorized as personal model. The growth of the global remote breathalyzer is mainly driven by increasing alcohol and drug abuse cases and stringent government laws and regulations. Moreover, growing popularity and demand for personal breathalyzers and development of cost-effective alcohol breathalyzers in emerging markets is expected to witness rapid surge in the demand during the forecast period.

The global breathalyzers market has been segmented on the basis of end users into security agencies, hospitals, home care facilities, and rehabilitation centers. Security agencies are the largest end-users of breathalyzers. However, growing personal use of breathalyzers is expected to increase during the forecast period from 2016 to 2024. Geographically, the global remote breathalyzer market can be segmented into five key regions, namely, North America, Europe, Asia Pacific, the Middle East and Africa and Latin America. In past, North America has dominated the market due to enactment and implementation of stringent laws by the government in the region. However, developing nations in Asia Pacific are expected to witness the fastest growth during the forecast period. Growing awareness for drug testing coupled with government initiatives, increased public awareness and reduction in cost are the major drivers for the market growth in these geographies. The major restraint for the market can be violation privacy rights in some countries. High pricing and less opportunities for new market players in developed regions can also be the restraints for the market during the forecast period.

Key players in the market include Alcohol Monitoring Systems, Inc., Alere, Inc., Andatech Private Limited, BACtrack, Drägerwerk AG, Intoximeters, Inc., Lion Laboratories Limited, Lifeloc Technologies, Quest Diagnostics, Soberlink Healthcare LLC.

Global Image Guided Surgery Devices Market to Log 6.40% CAGR 2014-2022 due to Increasing Demand For Enhanced Healthcare Facilities

A new Transparency Market Research report states that the global image guided surgery devices market, which was pegged at US$2.76 bn in 2013, is predicted to reach US$4.80 bn in 2022, expanding at a CAGR of 6.40% from 2014 to 2022. The title of the report is “Image Guided Surgery Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022.”

Image guided surgery is a term utilized for any type of surgical procedure wherein the surgeon utilizes tracked surgical instruments coupled with intraoperative and preoperative images for indirect guidance for the procedure. Image guided surgery systems utilize electromagnetic fields or cameras for capturing and relaying images of the anatomy of patients. Image guided surgery is used in a wide range of applications and is particularly utilized in surgery of the sinuses, where it aids in avoiding damage to the nervous system and the brain of the patient.

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As per the report, the increasing demand for enhanced healthcare facilities and the rising healthcare expenditure globally are amongst the chief factors fuelling the market for image guided surgery devices. In addition, the rising popularity of IGS devices and the increasing initiatives taken by governments globally will also have a positive impact on the growth of the market. Furthermore, the developing markets hold a significant potential for the image guided surgery devices, hence propelling market development. The increasing count of partnerships and collaborations is a key trend seen in the market. On the other hand, the absence of skilled professionals and the soaring cost of installation of image guided surgery devices are amongst the major factors inhibiting the development of the market. In addition, the stringent regulatory needs and the lack of health insurance in emerging countries will also pose a negative impact on the growth of the market.

On the basis of device type, the report segments the market into ultrasound, computed tomography (CT) scanners, magnetic resonance imaging (MRI) machine, x-ray fluoroscopy machine, endoscope, single photon emission computed tomography (SPECT) equipment, and positron emission tomography (PET) machine. Amongst these, computed tomography (CT) scanners have the highest demand owing to the increasing applications of CT scanners in tumor detection and imaging of soft tissue structures. In addition¸ the turnaround time of these scanners is less, which is advantageous in critical and complicated surgeries. This segment stood at US$770 mn in 2013.

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In terms of application, the report segments the market into orthopedic surgery, neurosurgery, oncology surgery, ear, nose, and throat surgery, and others. Amongst these, the segment of neurosurgery held the largest share in the market in 2013. The increasing accuracy of operating procedures is a key factor fuelling the growth of the neurosurgery segment. On the other hand, the demand for orthopedic image guided surgeries is also predicted to rise owing to the increasing aging population and the increasing occurrence of road accidents globally.

On the basis of geography, the report segments the market into Europe, North America, Latin America, Asia Pacific, the Middle East, and Rest of the World (RoW). Amongst these, North America led the market in 2013 and was trailed by Europe. The reasons for the superiority of both these regions include the increasing adoption rate of new technologies, the increasing healthcare expenditure, and the availability of trained healthcare professionals in these regions.

As per the report, the chief players dominant in the market are Toshiba Corporation, Siemens Healthcare, Koninklijke Philips N.V., St. Jude Medical, Inc., General Electric Company, Medtronic plc, Brainlab AG, and Varian Medical Systems, Inc., among others.

Implantable Cardioverter Defibrillator Market - Evolving Market Trends and Dynamics 2024

An implantable cardioverter defibrillator is a device that monitors a person's heart rate post its implantation in patients with heart failure. The device continuously monitors your heartbeat and sends electrical pulses to repair a normal heart rhythm when necessary. Implantable cardioverter defibrillator (ICD) or automated implantable cardioverter defibrillators can save patients from arrhythmias by regulating the irregular heartbeats. The device is used in treating sudden cardiac arrest caused due to cardiac arrhythmias, particularly ventricular fibrillation and pulseless ventricular tachycardia. Invention of the implantable cardioverter defibrillator was started by Michel Mirowski in the late 1960s after one of his close friend’s death who was also his mentor and had been admitted to hospital with recurrent ventricular tachyarrhythmias. 

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The most important factors driving the global implantable cardioverter defibrillators market are increasing incidences of cardiovascular disorders, increasing demand for implantable cardioverter defibrillator from emerging countries of Asia-Pacific and the Middle-East as cardiovascular disorders are increasing and awareness about the disease also increases in these countries, increasing number of training and awareness programs across the globe for Implantable Cardioverter Defibrillators. These training and awareness programs are conducted for the patients as well as the surgeons by Mayo Clinic US.

The implantable cardioverter defibrillators governs the appropriate therapy for returning your heartbeat to a normal heart rhythm. Doctor programs the implantable cardioverter defibrillators to deliver functions such as anti-tachycardia pacing (ATP) and cardio.  A series of small electrical impulses are delivered to the heart muscle to restore a normal heart rate and rhythm. In cardio, a low energy shock is delivered at the same time as your heartbeat to restore a normal heart rhythm. Defibrillation means when the heart is beating dangerously fast, a high-energy shock is delivered to the heart muscle to restore a normal rhythm. Bradycardia pacing means when the heart beats too slow, small electrical impulses are sent to stimulate the heart muscle to maintain a suitable heart rate.

The American Heart Association recommends some guide lines for the person to be eligible for an implantable cardioverter defibrillator.  The arrhythmia in question must be life threatening and the correctable causes of arrhythmia (acute myocardial infarction, myocardial ischemia, electrolyte imbalance and drug toxicity) have been ruled out by doctors have ruled out correctable causes of the arrhythmia.

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Implantable cardioverter defibrillators market can be segmented by product types, by procedure type, and end user type. Implantable cardioverter defibrillator are categories into single chambered, dual chambered and biventricular implantable cardioverter defibrillators on product types. Based on implantation region ICDs are categorized into trans-venous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators.The subcutaneous ICD (S-ICD) is placed without inserting the leads inside the heart. The device is placed under the skin below the left axilla, or armpit along the rib cage, and not inserting in the standard location near the collarbone. The lead which is connected to the device is burrowed under the skin rather than inside the heart. The advantages of the S-ICD are that it do not show any of the immediate or long-term complications followed due to placing a lead into the heart, such as perforation of the heart and collapse of the lung. Subcutaneous Implantable Cardioverter Defibrillators is the key driver for the ICD market as it have very less complications and easy implantable procedure. Based on end user type the ICDs are divided into hospital and super specialty hospitals, home users, cardiac catheterization laboratory users and electrophysiology laboratory users. Geographically, the market has been categorized in five main regions: North America, Europe, Latin America, Asia pacific and the Middle East and Africa.

The key implantable cardioverter defibrillators manufacturer companies include Boston Scientific Corporation, Imricor Medical Systems, Inc., LivaNova PLC Company, Mayo Clinic US, Medtronic plc, MicroPort Scientific Corporation, MRI Interventions, Inc., St. Jude Medical, Inc.,

Biopsy Devices Market - Demand for Minimally Invasive Procedures to Pave the Way for Increasing Use of Biopsy Devices

The global biopsy devices market is highly consolidated with four major players collectively accounting for 91% of the total global market, reports Transparency Market Research (TMR) in a new study. The key players are CareFusion Corporation, C R Bard, Inc., Devicor Medical Products, Inc., and Hologic, Inc. A number of small local players supply devices such as forceps, needles, and punches in their respective countries via a crude network of distributors.

“The threat from new entrants is low due to stringent regulatory environment and low financing conditions,” says the author of the study. These factors do not pose a threat to the contribution of aforementioned key players in the global market.

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Rising Incidence of Cancer Cases Worldwide Helps Uptake of Biopsy Devices

A growing prevalence of cancer has become a critical issue for governments and international organization such as the WHO. According to a report by the WHO, the number of deaths due to cancer across the globe will show a constant rise and will reach nearly 13.1 bn in 2030. This has led to the initiation of various patient awareness programs by such organizations. As a result, increased number of patients are undergoing biopsies, thereby driving the growth of the market.

Additionally, with a rising geriatric population, the incidence of cancer is also likely to increase. This will serve the global biopsy market as a driver due to the fact that aging increases a person’s susceptibility to cancer.

A surge in the demand for minimally invasive biopsy procedures has been registered owing to the shorter patient recovery span, lesser post-surgery complications and side effects, and minimal pain. They are useful in accurate cancer diagnosis and provide great assistance to physicians to determine the best suitable treatment plan for the patient. This growth driver will have a deep impact on the biopsy devices market.

Reduced Affordability to Restrain Demand for Biopsy Devices

Technological advancements have transformed biopsy devices into higher accuracy products. However, this has also reduced the affordability of these devices. Additionally, the lack of interest of medical practitioners to invest in the capital-intensive market has elevated the cost of these devices. Moreover, the introduction of taxes such as the Medical Device Excise Tax (MDET) of 2.3% in the U.S., will lead to further price hike of products.

Medical reimbursement issues further increase the reluctance of patients to opt for biopsy devices. “Insurance companies do not grant reimbursements for every biopsy procedure as they consider it to be only investigating technique and not a surgical technique,” says a TMR analyst. These issues will negatively influence the growth rate of the global biopsy devices market.

North America Maintains Substantial Lead Owing to Large Pool of Cancer Patients

According to the report by TMR, the valuation of global market for biopsy devices was US$1.34 bn in 2011 and is anticipated to rise to nearly US$2.11 bn by 2018.

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The biopsy guidance systems form the leading segment by value in terms of product types. The segment was valued US$767 mn in 2015 and is expected to reach at US$913.5 mn in 2018. However, the needle- based biopsy guns form the fastest growing segment due to their increasing use in biopsy procedures.

By geography, the global biopsy devices market is segmented into Asia, Europe, North America, and Rest of the World (RoW). The growing incidence of cancer has made it the largest regional market by value and is expected to retain its leadership by the end of 2018. The unmet medical needs in Asia coupled with the growing pool of cancer patients has made it the fastest growing region by revenue.

Sales of Spinal Muscular Atrophy Market to Cross US$0.47 globally by the end of 2023, reports TMR

A new report, titled “Spinal Muscular Atrophy Market - Pipeline Assessment, Size, Growth, Trends, and Forecast 2015 - 2023” has been published by Transparency Market Research. The study offers a detailed analysis of the spinal muscular atrophy market, providing insights into the pipeline assessment, major growth drivers, restraints, and potential opportunities. According to the research study, the spinal muscular atrophy phase three candidate ISIS-SMNRx is projected to generate revenue of US$0.47 by the end of 2023 in the U.S.

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Spinal muscular atrophy is genetic neuromuscular disease that is characterized by muscle weakness and atrophy. This disease is the leading genetic cause of death in toddlers and infants, given that it generally manifests early in life. According to the Spinal Muscular Atrophy Association, this disease affects an estimated 10,000 to 25,000 adults and children in the U.S. alone, making it one of the most common rare diseases. The association reveals that an estimated 6 million Americans are carriers of the SMA gene and one in 6,000 to one in 10,000 kids are born with this neuromuscular disease.

The research report offers key insights into the prevalence and current treatment pattern of spinal muscular atrophy, identifying major market drivers, opportunities, and restraints in the global market for spinal muscular atrophy therapeutics. An analysis of market attractiveness with respect to geography takes into consideration several factors such as drug pricing policies, current competition intensity, patient population, regulatory restrictions, and present state of the healthcare sector. This gives readers a clear picture of the potential of each geographical segment of the spinal muscular atrophy market.

The spinal muscular atrophy therapeutics market is segmented into early stage candidates and late stage candidates. Early stage candidates of Phase 1 and Phase 2 include LMI070, CK-2127107, RG3039, Olesoxime (TRO19622), RO6885247, and scAAV9.CB.SMN. Late stage candidates of Phase 3 include ISIS-SMN Rx. This Phase 3 candidate for the treatment of Type 1 and Type 2 SMA is present an annual sales of US$0.4 bn in the US by the end of the forecast period in 2023.

Europe and the US are presently the dominating markets for spinal muscular atrophy therapeutics owing to the fact that these regions have a greater percentage of diagnosed cases of SMA. Private and government organizations have been largely involved in creating awareness about spinal muscular atrophy. In addition, the governments in these regions have been offering incentives for the development of therapeutic options for the treatment of rare diseases, which in turn boosts research and development in the field of spinal muscular atrophy.

The major companies competing in this space are F. Hoffmann-La Roche Ltd., Isis Pharmaceuticals, Inc., AveXis, Inc., Cytokinetics, Inc., and Novartis AG, and these players have been profiled in the report with the help of several market intelligence tools. Their strengths, weaknesses, opportunities, and threats have been evaluated, along with a detailed assessment of their product offerings.

Selective Serotonin Reuptake Inhibitors Market - Latest trends in Pharmaceutical Industry; Market Forecasts by 2024

Selective serotonin reuptake inhibitors (SSRIs) elevate the extracellular level of neurotransmitters known as serotonin by inhibiting its uptake in presynaptic cells. Therefore, selective serotonin reuptake inhibitors are widely used as medication for the treatment of severe or persistent depression. In addition, selective serotonin reuptake inhibitors are also used in combination with therapies such as cognitive behavioral therapy (CBT).

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Furthermore, selective serotonin reuptake inhibitors are also used for mental conditions such as panic disorders, obsessive compulsive disorder (OCD), post-traumatic stress disorder (PTSD), severe phobias, including social phobia and agoraphobia, and generalized anxiety disorder (GAD). In addition, selective serotonin reuptake inhibitors are also used for the treatment of premenstrual syndrome, premature ejaculation, irritable bowel syndrome and fibromyalgia. Side effects of selective serotonin reuptake inhibitors include, low sex drive, dizziness, sickness, anxiety, erectile dysfunction in male population and blurred vision.

According to the World Health Organization (WHO), depression is the fourth leading cause of deaths and by 2020; it is expected to be the second leading cause of deaths worldwide. According to the National Institute of Mental Health (NIHM), part of National Institute of Health (NIH) of the U.S., in 2012, around 16 million adults above 18 years of age had at least one major depressive episode in the past year in the U.S. Risk of depression is twice in women population.

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According to the Depression and Bipolar Support Alliance, the lifetime prevalence for female population is 20% to 26%. While life time prevalence of depression for male population is 8% to 12%. According to the article published by the British Psychology Society in June 2013, finding from the Office for National Statistics (ONS) states that approximately one fifth of the overall adult population experience depression. Thus, perpetually rising prevalence depression worldwide is the major factor driving the growth of the global selective serotonin reuptake inhibitors (SSRIs) market.

Geographically, the selective serotonin reuptake inhibitors market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Presently, Europe and North America are dominating the global selective serotonin reuptake inhibitors (SSRIs) market. Factors such as, divorce, unemployment, work pressure, and higher life expectations are resulting in higher rate of depression cases.

Sales of Skincare Devices Poised to Rise Globally With Increasing Incidence of Skin Cancer and Other Skin Disorders, says TMR

The presence of a large number of players has made the vendor landscape in the global skincare devices market highly fragmented. Despite the presence of prominent brands in substantial number, the majority market share is held by local and small-scale players specializing in large-scale production of popular skincare devices such as biopsy punches and dermatoscope. Many of these local vendors also specialize in the production of high value devices such as liposuction devices and laser systems.

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Nevertheless, as per Transparency Market Research (TMR), key players in the market including Lumenis Ltd., Valeant Pharmaceuticals, Cynosure, ZELTIQ Aesthetics, Inc., and Syneron Medical Ltd. hold a combined share of 25% in the global skincare devices market. Since a majority of companies in the market focus on product differentiation, competition is further elevated in the market.

Increasing Incidence of Skin Cancer Boosts Sales of Skincare Devices

As per TMR, the increasing incidence of skin disorders such as skin cancer is expected to fuel demand for skincare devices market. “The rising demand for diagnosis in the form of biopsies and dermatoscopy, and treatment techniques such as light therapy and lasabrasion, the sale of skincare devices is likely to increase the uptake of skincare devices,” said a lead TMR analyst. “The market is also expected to significantly gain from the increasing demand for non-invasive cosmetic procedures,” he added.

Besides this, for simple skin related issues such as wrinkles, appearance of aging lines, and unwanted hair patients are looking for faster solutions with minimal pain, which will also allow them to resume their daily chores at the earliest. This led to the introduction of handheld and smart skincare devices to increase the convenience of treatment providers. These trends are proving conducive to the growth of the skincare devices market.

Rising Healthcare Expenditure to Reflect Positively on Sales Prospects for Skincare Devices

TMR forecasts the healthcare expenditure to significantly rise during the forecast period between 2015 and 2023. With the growth of healthcare expenditure outpacing the rate of population, TMR expects the prospects for skincare devices market to be extremely lucrative during the forecast period. The rising geriatric population is also expected to boost sales of skincare devices globally.

Most importantly, the rising trend of medical tourism and med spas, especially in the emerging economies of Asia Pacific, will provide ample growth opportunities for leading vendors.

However, the presence of a large number of local and established players has rendered the skincare devices market highly competitive. This compels a majority of manufacturers to offer their products at lower price. While such competitive pricing strategies limit the growth of skincare devices market to an extent, lack of transparency in their pricing strategies by suppliers can also go against the market.

TMR pegs the global skincare devices market to reach US$17,299.4 mn in 2023, from US$7,255.8 in 2014. The market as per TMR analysis, is expected to surge at a CAGR of 10.1% during the forecast period.

High Unmet Healthcare Needs in Under-developed Economies Open Growth Opportunities for Video Telemedicine Market, says TMR

The global video telemedicine market is highly consolidated with top four players collectively holding close to 90% of the overall market in 2013, as per a new analysis by Transparency Market Research. These are Cisco Systems Inc., Polycom Inc., LifeSize, and Vidyo Inc. Among these, Cisco Systems Inc. was the clear leader in the same year thanks to its diversified product portfolio and extensive geographical presence.

“Partnerships and collaborations are the key focus of top players in the global video telemedicine market in the bid to expand their geographical presence”, points out a TMR analyst. This is mainly to improve remote and rural patient care, security, and communication. An excellent example is AMD Global Telemedicine Inc. collaborated with Nexus Connected Healthcare in September 2012, the latter being a subsidiary of Nexus IS Inc., to augment the applications of telemedicine.

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Technological innovation and integration of applications is another key growth model that leading players are adopting to enhance their portfolio and broaden their regional footprint in the process. This is expected to increase the scope of video telemedicine from early detection and diagnosis to therapeutics.

Innovation in product design is also what top players in the global video telemedicine market are adopting for revenue growth. For instance, Global Media Group LLC’s TotalExam HD is the one of the world’s first true HD examination cameras.

Introduction of Government Reforms Favors Remote Healthcare Services 

“The global video telemedicine market is primarily driven by the rapidly increasing aging population that needs remote health diagnosis and monitoring”, says a TMR analyst. Moreover, regular healthcare needs of this population are driving the demand for mobile health and video telemedicine. According to estimates from the World health Organization (WHO), the percentage of individuals above the age of 60 years would double from 11% in 2011 to 22% by 2050. This indicates a significant rise in the geriatric population base would propel the need for efficient healthcare services that can be rendered remotely.

Government reforms that are favorable for improving the quality of healthcare is also fuelling the growth of the global video telemedicine market, says a TMR analyst. Proliferation of communication technologies and electronic devices is also propelling the growth of the global video telemedicine market.

Lack of Infrastructural Capabilities in Developing Countries Hampers Market Growth

Resistance for adopting new technologies, predominantly in developing nations such as India, Brazil, China, and Argentina is challenging the market’s growth. This is because the majority of the individuals in these countries prefer visiting the healthcare practitioner in place of receiving medical care remotely. Lack of modern healthcare infrastructure in several countries, which can support the deployment of video telemedicine is also restraining the market’s growth. Video telemedicine requires a high-level of technological capacity for the transmission of data and images unambiguously across the recipient’s network.

The dearth of skilled personnel that can operate video telemedicine systems is also an impediment to the growth of this market. The use of video telemedicine also requires dedicated medical personnel at all times to respond to queries.

The global video telemedicine market is expected to be worth US$1,624.4 mn by 2020. Video telemedicine based on asymmetric digital subscriber line (ADSL) communication technology contributed the highest revenue to the overall market in 2013. However, the 4G communication technology segment of the market will display the highest growth rate at a CAGR of more than 18% between 2014 and 2020. Gynecology stood as the leading application segment in 2013; however, neurology and psychiatry application segments are expected to display the highest growth rate during the forecast horizon, the report states.

The review is based on the findings of a Transparency Market Research report titled “Video Telemedicine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

Global Negative Pressure Wound Therapy Market to Touch US$2.9 bn by 2020, Increasing Incidence of Chronic Wounds Fuels Demand

Transparency Market Research (TMR) has recently published a study on the global negative pressure wound therapy (NPWT) market, according to which, the market is anticipated to rise at a healthy CAGR of 10.20% between 2014 and 2020.The research report, titled “Negative Pressure Wound Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” estimates this market to increase from a total value of US$1.5 bn in 2013 to US$2.9 bn by the end of the forecast period.

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Negative pressure wound therapy is an advanced therapy that applies negative or sub-atmospheric pressure to a wound in a closed wound drainage system. The devices used in this therapy make use of a mechanical as well as an electrical suction pump to transfer negative pressure through connecting tubes to wound dressing kits to promote faster wound healing. These devices can be utilized for the treatment of pressure sores, traumatic wounds, surgical wounds, and chronic wounds such as venous stasis ulcers and diabetic foot ulcers.

According to the study, the NPWT market is likely to witness a robust rise in its valuation during the forecast period owing to the increasing incidence of acute and chronic wounds.The report has studied the global NPWT market on two fronts: Product and the region. Based on product, the market has been categorized into single-use NPWT devices and conventional NPWT devices. The conventional NPWT devices segment has been leading the overall market since the last decade. However, the single-use NPWT devices segment is projected to register a higher CAGR of approximately 17.0% over the forecast period.

The shift in preference of patients from conventional NPWT devices to single-use devices, on account of the convenience and the cost benefits offered by the latter, is likely to propel this market segment significantly in the coming years, notes the study.

Geographically, the report segments the worldwide NPWT market into Europe, North America, Asia Pacific, and the Rest of the World. North America emerged as the biggest regional market for NPWT in 2013. The increasing incidence of chronic diseases, rising awareness among patients regarding healthcare, and favorable reimbursement scenario have boosted this regional market.

In the same year, Europe acquired the second position in the global NPWT market on account of the augmented rate of transit accidents and increased incidence of chronic wounds.

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Though both the regional markets are projected to record healthy growth during the forecast period, they are likely to lose ground to Asia Pacific market for NPWT. The NPWT market in Asia Pacific is expected to gain from the strengthening economy, supportive government policies, and the soaring demand for technically advanced wound care products in the coming years, states the report.

Devon Medical Inc., Talley Group Ltd., Smith & Nephew plc, Prospera Technologies LLC, Molnlycke Health Care AB, Kinetic Concepts Inc., Genadyne Biotechnologies Inc., ConvaTec Inc., and ArjoHuntleigh International AB are the major international players in the negative pressure wound therapy market, reports the study.

Rise of Nanotechnology Industry to Fuel Demand for Global Microscopy Devices Market

The global microscopy devices market is expanding at a CAGR of 7.60% within a forecast period from 2014 to 2020. The market was valued at US$5.7 bn in 2013, from which it is expected to expand to US$9.7 bn by the end of 2020, according to a research report released by Transparency Market Research. The report, titled “Microscopy Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, is available on the company website for reference and sale.

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The report includes details on all the factors that drive and restrain the global microscopy devices market. The primary driver for the growth of the market is the leap in the rate of research and development carried out in advancing the technology used today. Innovativeness in the field of microscopy devices is being highly valued and novel approaches are being considered in order to create increasingly powerful and accurate microscopes. Other factors driving the global microscopy devices market are innovations carried forward in the field of semiconductor electronics. The semiconductor industry is rapidly expanding in emerging economies, further fueling the global microscopy devices market.

The global microscopy devices market is taking long strides towards the use of nanotechnology.

Global funding on the incorporation of nanotechnology in microscopy devices has increased considerably over the past few years, giving rise to a strong research and development phase for the use of nanotechnology in microscopy devices.The market is, however, restrained by the high pricing of advanced microscopes, which has hampered the global microscopy devices market’s penetration in developing nations. Additionally, the complexities related to sample preparation and instrumentation of the devices is expected to hinder the market’s overall growth rate.

The report’s segmented analysis of the global microscopy devices market reveals optical microscopes to have led the products category in 2013, with a market share of 38.90%, which amounts to US$2.2 mn in global sales. The second largest product segment in 2013 was of electron microscopes.The segmentation by application reveals the global microscopy devices market leader for 2013 to have been the life sciences industry. It is expected to progress at a CAGR of 6.40% in the report’s forecast period. The second largest application segment in 2013 was the semiconductors industry. This segment is expected to expand at a 12.40% CAGR between 2014 and 2020.

The geographical analysis of the global microscopy devices market shows Asia Pacific to have dominated the market in 2013 with a share of 40.9%. The Asia Pacific microscopy devices market is expected to progress rapidly in the coming years owing to increased research and development activities conducted in schools, universities, government organizations, and research institutes.The largest investor in the global microscopy devices market’s R&D activities has been China. The key players in the global microscopy devices market are Olympus Corporation, Cameca SAS, Hitachi High-Technology Corporation, JEOL Limited, Bruker Corporation, Nikon Corporation, Danish Micro Engineering A/S, Leica Microsystems, Carl Zeiss AG, FEI Company, and NT-MDT Company.

Apheresis Market (Therapeutic Apheresis & Donor Apheresis) - Global Forecast 2018

Apheresis, also called as hemapheresis and pheresis is a procedure which involves withdrawal of blood from a donor and separation and retention of its components such as plasma, platelets, leukocytes, and others. Thereafter, the remaining components are transfused back into the donor. 

Thus therapeutic apheresis is a procedure of separation of blood into its components and also includes removal of abnormal components. The overall apheresis market is classified from the perspective of donor apheresis and therapeutic apheresis. 

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Increase in health awareness, development in healthcare services in the emerging economies, and an increase in the life expectancy in the developed nations are the major drivers contributing to the growth of the apheresis market worldwide. On the other hand, lack of development of inexpensive apheresis treatment, especially in the economically backward countries, might hamper the growth of this market to some extent. 

The major types of apheresis procedures are plasmapheresis i.e. plasma exchange, leukapheresis, plateletpheresis or thrombocytapheresis, erythrocytapheresis and LDL apheresis. Therapeutic apheresis is a measure used as a last resort when conventional pharmacological treatments turn out to be unsuccessful in controlling incapacitating and chronic medical conditions. 

The major medical domains in which apheresis procedures are conducted are hematology, oncology, neurology, and renal diseases. The major diseases in these categories are leukemia, myasthenia gravis, refractory rheumatoid arthritis, systemic lupus erythematosus, thrombocytosis, polyneuropathy, Guillan Barre syndrome, and sickle cell diseases. The prime technologies employed in apheresis equipment are centrifugation and membrane filtration. The apheresis equipment market can be further categorized into apheresis machines market and disposables market. 

Geographically, the global apheresis market is classified into North America, Europe, Asia Pacific, and Rest of the World. At present the major market share of the global market is enjoyed by North America followed by Europe. The prime players in the apheresis market are Terumo BCT, Fenwal, Inc., Haemonetics Corp., Therakos, Inc. among others. 

Global Cell Culture Market: Growing Demand for Artificial Organs to Pave Way for Market’s Growth

The vendor landscape in the global cell culture market includes players such as VWR International LLC, Thermo Fisher Scientific Inc., GE Healthcare, Lonza Group Ltd., Becton, Dickinson & Co., Sigma-Aldrich Co. LLC., Corning Life Sciences B.V., EMD Millipore, PromoCell GmbH, and Wheaton Industries Inc. According to a TMR analyst, mergers and acquisitions among the key players are expected to strengthen the market in the coming years. 

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Cell Culture Consumables Register Higher Demand than Serums and Reagents

The market players are registering increased demand for cell culture across the medical research sector. Cell cultures are being increasingly applied across drug screening and monitoring, disease diagnosis, biologic manufacturing, IVF technology, cancer research, and stem cell research. Increased investments by private medical organizations and government organizations have supported the growth of the global cell culture market. TMR states that among the cell culture consumables, cell culture media register the highest demand compared to serums and reagents. This is due to the key importance of the nature of the culture medium to the health of the cells.

3D Cell Culture to Define Future of Global Cell Culture Market

The growing demand for biopharmaceuticals and artificial organs, coupled with the emerging trend towards serum-free, customized and specialty media solutions is the primary factor contributing towards the growth of the global cell culture market. The increasing focus on stem cell research would further expand the scope of the market in future. TMR recommends that the focus on backward integration to conduct in-house research and sustaining pricing pressures amid a weak global economic scenario will open up significant opportunities for the market players.

However, ethical concern over the usage of animal sources in cell culture is one of the major restraints in the growth of the market. The usage of transgenic plants and animals, and stringent process controls will also impede the growth of the market in the years to come. “3D cell culture has the potential to serve as the future growth opportunity for the market and in vitro analysis.” a TMR analyst predicts.

Asia Pacific to Register Highest Demand for Cell Culture

TMR predicts that among the key regions in the global cell culture market, Asia Pacific will register the fastest growth during the period between 2014 and 2022. “The improvement in economic conditions of the developing countries in the Asia Pacific region such as China and India is anticipated to support the market’s growth,” the analyst states. In 2013, North America was the leading region in the market.

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TMR finds that the various opportunities in the global cell culture market will propel the expansion of the market at a CAGR of 7.1% during the period from 2014 to 2022. This would lead to an increase in the valuation of the market from US$6.1 bn in 2013 to US$11.3 bn in 2022.

Prevention-Better-than-Cure Sentiment to Help Ultraviolet Germicidal Irradiation Systems Sales Touch New High, says TMR

The key players holding the lion’s share in the global ultraviolet germicidal irradiation market are America Ultraviolet, GE Water & Process Technologies, and UltraViolet Devices, Inc. amongst others, TMR finds in a new report. The majority of these companies will focus on offering effective and cost-efficient products to tap the unmet needs in the overall market. For instance, GE Water & Process Technologies is adopting advanced H-technology to improve its line of products and services to gain a competitive edge in the overall vendor landscape. The global UVGI market will also witness a broader range of products in the coming years to appeal to a wider segment of consumers.

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Prevention of Diseases Augments UVGI Market

The noteworthy technological advancements in the UVGI systems have made them a popular choice for sterilization process in restaurants, air-conditioned offices, food joints, hospitals, and several manufacturing units. Consumers are opting for installing hi-tech UVGI systems in order to prevent the occurrence of dangerous airborne diseases, reducing the maintenance cost of HVAC, and mitigating the chances of microbial contamination through air vents.

The rising number of hospital-acquired infections (HAIs) is also driving the global UVI market. According to statistics published by the World Health Organization (WHO) in 2013, about seven patients out every 100 admitted in hospitals acquire HAIs. The global UVGI market will growth at an unprecedented rate against the backdrop of these factors.

Import-related Hurdles to Restrain Market

The biggest challenge faced by this market are the hurdles in developing countries to import UVGI systems. Furthermore, these countries also have a dearth of skilled labor that has the technical knowledge of installing and maintaining these systems. Therefore, the majority of the developing countries have to depend on outsourcing help, which increases the installation costs.

All of these factors are hampering the growth of the UVGI market in emerging economies. Global players are also suffering as several developing countries are formulating new policies to support local manufacturers. This shift in preference is setting a trend in countries of Latin America and Asia Pacific.

A TMR analyst states, “The global UVGI market does have a lineup of some lucrative opportunities such as the burgeoning demand from water purification and advanced packaging sector that are looking at ways to avert air and borne diseases.” The unfortunate reduction in sources of fresh water sources, water pollution, and air pollution have collectively created a demand for UVGI in the food and beverages packaging sectors.

According to TMR’s report, the opportunity in the global ultraviolet germicidal irradiation market was valued at US$168.4 mn in 2014. By the end of 2023, its valuation is anticipated to reach US$430.3 mn, rising at a CAGR of 10.9%between 2015 and 2023. The air disinfectant UVGI systems are expected to make a significant contribution to the growth of this market as its valuation will likely rise to US$375.2 mn by 2023.

The analysis of the market drivers and restraints in the global UVGI market is based on the findings of a report published by Transparency Market Research. The report is titled “Ultraviolet Germicidal Irradiation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.”

Telehealth Initiatives to Improve Efficiency and Quality of Medical Tourism

Over the past two decades, plenty of telehealth applications have been successfully implemented.

Applications such as the transfer of digital photos and patient records and the use of medical video endoscopes to monitor patients’ physical examination have demonstrated great results. For many players, the introduction of telehealth in the global medical tourism market has been a profitable strategy.

Telehealth improves the efficiency, customer service, and quality of medical tourism services via enhanced coordination of care between patients and care providers. According to Transparency Market Research (TMR), the global medical tourism market is expected to exhibit a 17.90% CAGR from 2013 to 2019. A rise in the elderly population and the rising number of uninsured people are some of the factors expected to propel the global medical tourism market.

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TMR experts answers a few questions with respect to the global medical tourism market:

Q. How would the implementation of telehealth drive medical tourism?

A. The use of telehealth in medical tourism can offer many benefits. Telehealth improves the quality and process of pre-operative and post-operative care. It also helps control the baseline data remotely. Anesthesiologists can remotely perform the physical assessment of respiratory systems via teleconsultation.

Telehealth allows surgeons to manage follow-up care by connecting to primary care providers of patients. It also assures continuity in patient care by offering timely pre and post consultation.

Leading players and the new entrants operating in the global medical tourism market have started adopting telehealth services for bridging the gap between patients and doctors.

VoyagerMed, a New York-based medical care company, recently announced its plans to launch a telehealth initiative to connect patients from other countries to the U.S. physicians. The telehealth initiative is expected to allow patients to have real-time interaction with healthcare providers.

Q. How will telehealth help players in global medical tourism market to serve patients in the urban and rural areas?

A. As telehealth is being implemented by many healthcare service providers, it will improve the access to care in urban and rural environments to a great extent. People travel abroad from their home country to avail advanced medical care facilities. Telehealth helps healthcare providers to reach people living in rural and urban areas and provide healthcare facilities.

With telehealth, the medical tourism industry is being remade. For instance, millions of people travel to the U.S. to avail superior healthcare. Leading healthcare organizations in the U.S. have started using telehealth facilities to offer medical consultation to those who cannot afford to travel.

Q. What are the challenges faced by the hospitals using telehealth services?

Telehealth in medical tourism has certainly become a rising trend. However, healthcare organizations and hospitals using telehealth services need to consider a few challenges. Legal factors of every country can complicate the entire telehealth landscape. For instance, in the U.S., a telehealth doctor is transported to the patient’s country virtually. Thus, physicians, in order to offer their medical services, need to possess a valid license.

As telehealth services are new, rules and regulations regarding inter-nation telehealth practices are not fully developed. This can hamper the growth of the global medical tourism market.

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Over the past few years, there have been vast improvements in telehealth technologies. Although there are a few technical, regulatory, legal, and organizational obstacles, they are manageable. Going forward, telehealth is expected to play a leading role in shaping the global medical tourism market.  

Global Medical Traction Devices Market Gains Momentum as Patients Increasingly Prefer Non-invasive Procedures

Transparency Market Research is compiling multiple research reports on the industry of medical devices, all replete with the latest market statistics and trends linked to them. “Medical Traction Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024” is one such report that follows up on medical traction devices and how their market is expected to shape itself in the coming years.

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In orthopedics, traction devices are mainly used to reset broken bones or muscles. The most common use of traction devices is to straighten the spine by applying mechanical pressure to it from outside the body. There are two generalized segments of device types in the global medical traction devices market: The ones intended for the skin and the ones intended for skeletal restructuring.

There are many types of devices present in the global medical traction devices market, and most of them are intended for children with congenital deformities or people who have suffered from spinal compression. For instance, a device such as the Milwaukee brace is used to straighten out a curved spine in children. Other types include Buck’s traction device and Bryant’s traction device.

One of the primary drivers for the growth of the global medical traction devices market is the high preference of patients for non-invasive treatment methods. A growing number of patients are opting for traction devices and even alternative medicine to avoid surgery and any invasive procedure. As a result, patients suffering from bone deformities, bone fractures, and muscle contracture are applying in greater numbers for medical traction devices instead of surgery.

Another factor promoting the growth of the global medical traction devices market is the growing geriatric population. A steady increase in the elderly numbers is key for the global medical traction devices market, as they are the most prone to musculoskeletal problems.

The global medical traction devices market also benefits from added interest shown by patients who suffer from chronic pain. These patients, who have handled the pain, the long lists of drugs, and the side effects related to these drugs, are always looking for alternatives to painkillers and surgical procedures. The global medical traction devices market can therefore find a high scope of growth in this sector.

In terms of device types, the global medical traction devices market contains devices such as the anatomotor. Arthrotonic stabilizers, and the DRX9000 spinal decompression machine.

The key players in the global medical traction devices market are VAX-D Medical Technologies, LLC, CERT Health Sciences, Spinal Designs International, Inc., SpineRx Technology, Medtronic, Inc., North American Medical (NAM) Corporation, STOLL Medizintechnik GmbH, RS Medical, and The Saunders Group, Inc.

Key Reasons Driving Adult Day Care Services Industry

Adult day care services, also known as adult day care center, is an important type of services, which comprises non-resident support and services related to daily living, nutritional, healthcare and social support. These services are provided to adults and elder people, by the strong network of professional and trained people and nursing staffs. Adult day care services play an important role in the provision of transitional care and rehabilitation services, usually required after hospital discharge. In the most usual way, day care centers operate for 10-12 hours in a day and provide various supportive services to adult population, such as meal, medication, general supervision and moral and physical support.

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Many of the adult day care centers offer specialized focus on particular disease treatment and provide services related to that disease, such as, cardiovascular diseases, services for physically or mentally disabled persons. In addition to support services, many of the adult day care services have taken the initiative to develop a diagnostic and treatment center for the patients present in their center. Such diagnostic services play a vital role in case of chronically ill patients, such as, patient with Alzheimer’s disease, patient in coma and other similar situations. Due to proper treatment in the adult day care center, hospitalization probability have been decreased in last few years.

The market for adult day care services is expected to grow in a lucrative fashion, in the forecast period 2013 - 2019. This growth is driven by market drivers, such as increasing aging population of the world, rising medical expenditure, growing demand for day-care services due to rising prevalence of chronic diseases, ‘Patient Protection and Care Act’ and growing concern of global population towards the specialized day care services. Increasing geriatric population is one of the most important market growth propellers. According to Center for Diseases Control and Prevention (CDC), as of 2030, the population of Americans aged 65 years or older is expected to rise to 72 million, constituting around 20% of total population of the U.S.

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Further, due to increased aging population, it imposes a heavy burden of the healthcare and associated services, which causes depletion of quality in those healthcare medical infrastructures. Henceforth, day care services have found their applications in minimizing the burden on the healthcare services in an efficient manner. In addition, increased chronic disorders associated with aging population also fuels the market growth of day care services. For instance, according to Alzheimer’s Association, as of 2013, 5 million people from the U.S. are suffering from Alzheimer’s disease and the disease is the 6th leading cause of death in the U.S. Hence, such rise in chronic diseases also contributes towards the growth of day care services market in an exponential way.

Major players operating in this market include National Adult Day Services Association (NADSA), Alzheimer Association Day Care Center among others.