Showing posts with label healthcare market. Show all posts
Showing posts with label healthcare market. Show all posts

Tuesday, 22 December 2015

How Social Media and Big Data Aid Healthcare?

The rate of technological progression over the past few decades has been astounding, so much so that computing technology is finding it tough to keep up with Moore’s Law. Gordon E. Moore, in 1965, made a rough calculation that the number of transistors that a chip holds will double every two years, thanks to consistent demand for progressively advanced products. We are now at a point where standard silicon-technology-based chips are finding it tough to cram themselves with additional transistors. So while the advent of better forms of chip-making emerge, the point is clear that we’ve come a long way in a very short time. This only makes it logical that healthcare, one of the essential industries for mankind, uses what’s at the forefront of the technology of its generation. On top of the list for this generation is the barrage of social media data we put out into the world.

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Tweeting for Better Health

In May 2011, researchers from the University of Iowa figured out a way to use Twitter to track diseases in terms of their level of reach and activity in the U.S. The studies were conducted during the influenza A H1N1 pandemic. The published report shows that the team of three scientists was able to successfully use Twitter to check the developments in public sentiment during the spread of swine flu. In addition to this, they also managed to measure the level of activity of the disease through tweets from different regions. The report conclusively showed that social media platforms, especially Twitter, can be easily used to track public concerns over health and thus gauge the spread of diseases.

And the Twitter train doesn’t stop at contagious diseases and pandemics, either. In early 2015, University of Pennsylvania researchers stated that they can correlate region-based data on heart disease to a higher rate of negative Tweets. The researchers compared the data published by the CDC and the general emotional quotient of tweets from various regions. They found that there was a direct proportion between the number of emotionally negative tweets and the prevalence of coronary heart diseases. Of course, we need to remember that correlation does not imply causation – just because one sends negative Tweets does not mean they have heart disease. But it is data like this that can lead to a more concrete analysis for a better healthcare structure.

Big Data and Predictive Healthcare

The global healthcare industry is taking its next big step already: healthcare is on its way to becoming more proactive than reactive. What this means is the incorporation of intuitive technology that will anticipate patient problems before they happen, based on previously collected data. While this could practically spell out miracles for patients, we are still a long way from creating the perfect predictive healthcare system. But as a starting point, we have the currently trending big data business.

Big data can work better with healthcare to make it more intuitive. For instance, the piles of data gathered from one person regarding his/her eating habits, workout routines or lack of exercise, and sleeping habits, can be vital in telling whether that person is susceptible to diseases or not. With big data analytics, this can be performed efficiently for a large population. The health records can even span across generations of a family, enabling medical knowledge of genetic traits that might show up in new generations.



There are many other tech trends that can be extremely helpful in the field of medicine; many of them already are: improved sensory tech and better materials are being used in performing delicate surgeries and creating state-of-the-art prosthetics. Doctors all over the world are making the most out of the Internet and high-speed data transmission to create live global lecture halls where veterans perform surgeries in their OR while the others watch on their screens and learn. Indeed, we have come a long way from non-sterilized amputations and witch doctors, and into concepts that, ironically, seem more and more like magic.

Monday, 14 September 2015

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

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

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

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


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

Electrosurgical Devices Segment to Represent Highest Growth

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

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

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

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