Injectable Drug Delivery (IDD) System Provides Improved Patient Experience

24 November 2020: The injectable drug delivery (IDD) market is expected to witness considerable growth on account of increasing need for drug delivery systems and rising instances of chronic diseases like diabetes and cancer. Injectables are used for the treatment of diseases such as cystic fibrosis, Wilson’s disease, autoimmune diseases, hemophilia, hepatitis C, etc. as they offer a faster course of action. Comatose and unconscious patients are administered these drugs over other modes of drug delivery.

 
Due to the effectiveness and speed of delivery, the target injectable drug delivery system provides improved patient experience and is one of the most effective routes of administration. The advancements in technology are promoting the global injectable drug delivery market. With regulatory government norms, there is a greater emphasis on companies to stay updated with the latest developments in order to mitigate the challenges within the industry and remain compliant to gain the edge over competitors.

R&D Investments Boost Drug Delivery System

On the basis of product, the injectable drug delivery market is segmented into formulations and devices. Conventional injection devices and self-injection devices are two segments of devices. Devices that are designed for self-injection include auto-injectors, pen-injectors, needle-free injectors, and others.

On the basis of formulations, the injectable drug delivery market is categorized into conventional drug delivery, novel drug delivery, and others. The conventional drug delivery systems include emulsions, reconstituted lyophilized formulations, solutions, and suspensions. Novel drug delivery systems include colloidal dispersions, which are niosomes, liposomes, mixed micelles, polymeric, and nanoparticles. Microparticles are designed specifically for the rapid absorption of the drug at the target location. Use of colloidal dispersions in the drug delivery systems has been rising significantly owing to rising investments by manufacturing companies in their R&D.

The fastest gaining segment of the injectable drug delivery market includes devices that are mostly self-injection devices. At the primary level, the usage of these devices promote the control and management of various disorders. 

Market Insights
The increasing instances of diabetes and cancer in recent years and rising use of injectable drugs in their treatment and the current trends in developing safety syringes, prefilled syringes, and auto-injectors are amplifying the market growth. 

In order to ease their manufacturing and distribution processes, major companies in the market have entered into consolidated partnerships for certain products. Leading companies in the injectable drug delivery market include like Baxter International, Inc.; Pfizer, Inc.; Becton; Terumo Corporation; Schott AG; Dickinson and Company; and among others.

Ophthalmic Laser Industry to Benefit from Technological Advancements

3 November 2020: The ophthalmic lasers market is anticipated to witness growth due to rising prevalence of different types of chronic ophthalmic disorders. It is a medical equipment that is used to treat cells in the eye while operating on ophthalmic disorders. A particular spot in the eye can be specifically focused using the laser beam from the device. It acts as a source of clear, monochromatic light and used in therapeutic and clinical procedures. Ophthalmic lasers have various applications in procedures such as retinal photocoagulation, cataract surgery, laser iridotomy, laser trabeculoplasty, posterior capsulotomy, and variety of other disorders.

An Effective Solution for Refractive Error Corrections

Based on product segment, femtosecond lasers accounted for the largest share in 2016 in terms of revenue. Rapid technological advancements in the field of refractive error surgeries and lasers for cataract have resulted in surging demand for these products. Along with that, advanced technologies in the field of ophthalmology are promoting the demand for ophthalmic lasers in the market.

Highly adopted Excimer lasers are used for the treatment of refractive errors in healthcare facilities. For instance, Carl Zeiss Meditec AG launched a new product MEL 80 Excimer, which is used in refractive laser surgery. 

SLT and YAG lasers are also expected to witness significant growth owing to its uses in treatment of retina, glaucoma, and corneal surgery. For instance, Ellex Medical Lasers Limited, a company that manufactures ophthalmic lasers has a broad portfolio of SLT and YAG products that are used for the treatment of eye disorders.

Market Insights

High demand for harmless, economical, and pain-free ophthalmic lasers treatments and increasing geriatric population are factors responsible for driving the growth of the market. Growing prevalence of chronic and communicable eye diseases has fueled the demand for laser treatments so as to further avoid the risk of visual impairment and blindness. 

Some of the major players of the ophthalmic lasers market are Carl Zeiss Meditec AG; Alcon Laboratories, Inc.; Ellex Medical Lasers Limited; Bausch & Lomb Incorporated; Abbott Medical Optics, Inc.; Topcon Corporation; Lumenis; Ziemer Ophthalmic Systems AG; IRIDEX Corporation; and NIDEK Co., Ltd.

Enhanced Efficiency of Atherectomy Devices Propels Market Growth

29 October 2020: The atherectomy devices market is expected to witness considerable growth due to increasing demand for minimally invasive procedures/surgeries (MIS). These procedures cause fewer traumas to patient and promote quick recovery than other invasive procedures. A key driver of the market is the increasing cases of target diseases such as peripheral artery disease (PAD). Atherectomy devices are designed differently to either cut or shave and are used to remove atherosclerotic plaque from diseased arteries. Such devices are mainly used in hospitals, clinics, and ambulatory surgical centers (ASCs), leading to high demand for the product in hospitals globally. 

Success Rate of the Product Fuels Segment Growth

Based on types, the market is segmented into directional, rotational, orbital, and laser atherectomy devices. Directional atherectomy devices had the largest share of the market in 2016 due to its early inception in the market. In addition, its ability of plaque debulking and its availability in the market in various sizes are some of major advantages of the product. 

Another factor contributing to the high demand for the product is various clinical trials, which establish the efficiency of the devices. Trials such as EASE (Endovascular Atherectomy Safety and Effectiveness) and DEFINITIVE LE (determination of effectiveness of the SilverHawk peripheral plaque excision system for infrainguinal vessels/lower extremities treatment) have a success rate of more than 90%. This promotes the effectiveness of the devices, propelling the growth of the market.

Rotational atherectomy devices witnessed a considerable market share due to its wide usage in procedures. In almost 96% cases, there is no need of clinical assistance up to 9 months, which is expected to drive the demand for rotational devices, thus fueling the market growth over the next few years. The reimbursement scenario is also favorable for atherectomy devices, which is contributing to the growth of the market. In October 2014, the Centers for Medicare and Medicaid Services made some changes in the outpatient reimbursement scenario and increased the reimbursements rates by an average of 9%.

Market Insights

Atherectomy devices industry is mainly driven by continuous product development, growing target patient population, commercialization, favorable medical reimbursements, rising demand for minimally invasive atherectomy procedures, and strengthening distribution channels of major product manufacturers. 

Partnerships & mergers are among the key trends witnessed in the atherectomy device market in the recent years. For instance, in November 2018, the company acquired BTG plc and its key business including several peripheral interventional product lines. This acquisition is expected to help the company expand its interventional portfolio. 

Some of the leading companies in the atherectomy devices market are Cardiovascular Systems Inc.; Boston Scientific Corporation; Medtronic (Covidien), Spectranetics; Avinger Inc.; VOLCANO CORPORATION; Bayer AG; ST. JUDE MEDICAL; Straub Medical AG; BARD Peripheral Vascular; Terumo IS; and Cardinal Health (Cordis). 

Development of Healthcare Services Boost RFID Blood Monitoring Systems

20th October 2020: As per the report by Grand View Research, Inc., the RFID blood monitoring systems market is poised to rise to a valuation of USD 511.5 million by 2022. Increasing occurrence of chronic diseases such as kidney, liver, heart, lung, and other contagious and non-contagious disorders are anticipated to drive the RFID blood monitoring systems development in the forecast period.

Increasing awareness among blood banks and hospitals about RFID enabled blood storage and rising blood transfusion cases are anticipated to drive the market growth in the years to come. In addition, increasing number of privacy and security issues associated with clinical applications and need for organized management of ample clinical data are expected to drive the market in the forecast period. There are two product types in RFID systems namely, systems and tags. These products enable easy and centralized storage of data in its digital form. It allows easy analysis and study of patient data, history, tests, records, etc. thereby enabling quick medical care. 

On the other hand, high cost of initial maintenance and installation process of RFID systems and strict government regulations are anticipated to hamper the RFID blood monitoring systems in the forecast period.

The emerging trend in the market is growing acceptance of these systems by hospitals and blood banks in established and emerging countries all over the world. This is another factor estimated to drive the growth of RFID blood monitoring systems over the years to come.

North America is developing as the largest regional market on account of increasing demand for hospital inventory management systems in the region and rising demand for developed and well equipped blood bank infrastructure. Rising number of funding for new schemes is one of the major factors attributing to the growth and increasing share of the regional market. For example, a project under the name automated identification and data capture systems with complete examination of radio frequency identification technology, was sponsored by a Small Business Technology Transfer funding from the US National Institutes of Health. 

The leading companies in the RFID blood monitoring systems market are Tagsys RFID Group; Log Tag; Terson Solutions; Logi Tag; Mobile ASpects Inc; Wave Mark; Solstice Medical LLC; and Stanley Innerspace, among others.

Intelligent Virtual Assistant to Offer Complete Device Control

15 October 2020: The intelligent virtual assistant (IVA) market is expected to grow considerably on account of rising adoption of the technology across several applications including BFSI, healthcare, and automotive, among others. The intelligent virtual assistant (IVAs) provides critical automation assistance to various business, organizations, and individuals. They include various advantages such as smart speakers and chatbots that assist them in various tasks and recognizes and listens to the requirements of the individuals. The virtual assistants are used in various tasks such as scheduling appointments, training, and other individual as well as business activities.

Intelligent Virtual Assistant Market

Smart Speakers Applications in Residential and Commercial Sector Fuels Segment Growth

On the basis of product, the smart speakers segment is the fastest growing segment in the market owing to their extensive use in commercial and residential sector. There is an increasing demand for the adoption of smart speakers in smart offices, smart homes, and automotive applications. Moreover, increasing use of smartphone has also been a major factor driving the growth of the market. Industrialization, increasing urban population, and the need for efficiency have created a need to integrate smart home appliance. These smart homes have automation system that controls various appliances such as security systems, smart thermostats, and HVAC through internet. Smart speakers connected with smart appliances help reduce the amount of work to be done.

In 2018, Chatbots accounted for the largest share of the market. Various sectors such as insurance, banking, retail, and consumer goods extensively use chatbots. Tele-callers use these chatbots in banking operations. Other text based technologies such as automated speech recognition (ASR), Text to Speech, etc. help chatbots communicate efficiently with the customers.

Market Insights

Factors responsible to drive the demand for the intelligent virtual assistant are automation in customer service sectors, usage of smartphones, increasing smart homes, and growing demand for home assistance. Another major factor propelling the growth of the market is increasing focus on patient engagement and the evolution of IoT. Advancement in speech and voice recognition technologies such as Amazons’ Alexa and Apple’s Siri, is another factor likely to have a positive impact on the virtual assistant market.

Due to their ability to listen to consumers’ inquiries and respond accordingly, intelligent virtual assistants are rendering everyday tasks conveniently. For instance, virtual assistants help users purchase services or a product by reducing wait time over a call for customer service. Capabilities of a virtual assistant can be tailored to suit several industries in order to improve customer experience. 

Leading companies in the market are aggressively inclined toward R&D activities and are keen on innovations. Major leading companies in the intelligent virtual assistants market include Oracle Corporation; Nuance Communications, Inc.; Welltok Inc.; Microsoft; True Image Interactive Inc.; IBM Corporation; eGain Corporation; Apple Inc.; Amazon; MedRespond; Verint; Google Inc.; CodeBaby Corporation; CSS Corporation; and Next IT Corporation. 

Technological Advancements Spur Auto-Injectors Industry

13 October 2020: Auto-injector is a medical device used to deliver a single, fixed dose of critical drug. They are an effective mode of management for intramuscular drugs. The user-friendly nature of auto-injectors decreases the burden of carrying conventional syringes and needles. They are easy to use and are used for self-administration by patients or can also be administrated by untrained personnel. 

                                                               Auto-Injectors Market

Anaphylaxis’s Sector Holds Largest Share in the Market

On the basis of disease indication type, the auto-injectors market is classified into multiple sclerosis, rheumatoid arthritis, anaphylaxis, diabetes, and other therapies. The anaphylaxis sector accounted for the largest share in 2018 owing to increasing occurrence of anaphylactic reactions on account of medications, food, insect stings, and latex. 

According to the Asthma and Allergy Foundation of America, allergic conditions are the most common health problems affecting children in the U.S. In 2015, 4.2 million kids suffered from food allergies and 8.8 million suffered from skin allergies in the U.S. In Europe, allergies are one of the most common chronic diseases with nearly 20% of these patients fear of probable asthma attack, anaphylactic shock, and even death from these reactions. 

Market Insights

Key parameter in the growing competition is rapid adoption of advanced devices for improved healthcare. Leading players in the market are frequently opting for mergers and acquisitions along with novel product introductions to hold their share and expand the product range.

As per the Centers for Disease Control and Prevention (CDC), around 54.4 million adults were identified with numerous types of arthritis such as, lupus, gout, fibromyalgia, and rheumatoid arthritis in U.S. during 2013-2015. 

Recently, Biogen Idec, Inc. received the Food and Drug Administration (FDA) approval for its novel drug Plegridy used for the treatment of multiple sclerosis. The firm has improved the drug by adding polymer termed PEG (polyethylene glycol) that increases the drug exposure in patients and decreases the frequency of drugs administration. 

Some of the key players effective in the auto-injectors market are Scandinavian Health Ltd.; Eli Lilly; AbbVie, Inc.; Owen Mumford; Amgen; Ypsomed; Biogen Idec; Teva Pharmaceutical; Mylan N.V.; Sanofi; and Pfizer, Inc.

Weight Management Offers Effective Training and Exercise

8 October 2020: The weight management market comprises of all the products and services that help in keeping weight in check such as meal replacements, food & beverages, weight loss supplements, low-calorie sweeteners, and green tea. These meals are designed in a way to reduce overall calorie intake by including protein bars and shakes and other nutritional products as a substitute for regular food. Food & beverages are consumed for managing weight of the body which include high-fiber, low-calorie, and snack products. Weight loss supplements along with diet pills and low-calorie sweeteners are a part of the weight management regime. 

Weight Loss Services to Promote Health and Fitness

Based on services, the segment includes sliming centers, fitness centers, consulting centers and online weight loss services. The fitness centers held the largest share of the market due to their mass appeal and increasing popularity. These also provide effective training for weight loss with cardio, power yoga, aerobics, spinning, kickboxing, and strength building equipment.

In order to combat obesity and reduce weight, consulting services provide guidance on diet and exercise. Behavioral therapy is another preference of customers for coordinating between their exercises and diet. Nutritionists, bariatric physicians, and dieticians, also offer consultations for treatment and therapy regarding weight issues. Sliming centers offer intense activities along with high-tech equipment while online weight loss programs have also become popular in recent years. 

Weight management services can help reduce the prevalence of obesity and help people maintain the required body mass index (BMI). These products and services are likely to have a positive impact on the growth of the weight management industry. 

Market Insights

High prevalence of obesity, stress, unhealthy eating habits, lack of sleep are some of the major causes of cardiovascular disorders, which are fueling the growth of the weight management industry. Rising awareness about health and fitness among women is also expected to contribute to the growth of the market. 

Several weight management companies have emphasis on active customer participation and are successfully marketing products through online platforms on social media. For instance, Weight Watchers has adopted innovative promotional strategies to facilitate customer engagement. These strategies include discounts and offers to increase their customer base and improve their market share. 

Some of the key players of the weight management market are NutriSystem, Inc.; Herbalife International, Inc; Weight Watchers International, Inc.; BRUNSWICK CORPORATION; eDiets.com; Ethicon US, LLC; GOLD'S GYM; and Ethicon Endo-surgery, Inc. 

Healthcare Cloud Computing to Enhance Clinical Research Processes

22 September 2020: The global healthcare cloud computing market is expected to witness a considerable growth due to factors such as aging population, increase in prevalence of chronic diseases, and integrated information systems in hospitals. Cloud computing provides number of benefits and advantages in the healthcare industry. It helps in reducing operational costs for healthcare providers such as clinics and hospitals by on demand cloud computing and storage facilities.

Cloud can help support the data-heavy health IT technologies and also largely enhance clinical research with maximum support for clinical trial management and knowledge-sharing. Benefits of digital transformation along with IT has positively impacted the healthcare industry and helped healthcare providers make the best treatment decisions and reduce operational costs. 

High Demand for Various Applications Fuels Market Growth

Healthcare cloud computing industry is segmented into application, deployment model, pricing model, service model, and end use. Based on application, the non-clinical information system held a significant share of the market in 2018 due to higher penetration of cloud computing services. Various applications of cloud computing technology include supply chain management, revenue cycle management, fraud management, healthcare information exchange, financial management, accounts management, and billing.

The market witnessed lucrative growth opportunities for clinical information systems due to rising demand for applications such as electronic medical records, telehealth, laboratory information systems, etc. Increasing prevalence of chronic diseases is leading to an increased need for storage of a large amount of clinical information and data, which is resulting in high demand for clinical information systems by medical professionals.

The data collected by healthcare providers through radio images, electronic health records (EHRs), pharmacy sales, insurance claims, lab tests, prescriptions, IoT-enabled devices, and wearables is managed through the technology. The data helps companies generate meaningful insights and also helps in decreasing the cost associated with IT infrastructure in laboratories and hospitals. 

Market Insights

Growing investments by public organizations and several private entities in healthcare IT infrastructure is fueling the growth of healthcare cloud computing. One of the major factors impelling the healthcare cloud computing industry demand is advanced technology in healthcare infrastructure, especially the hospitals in developing countries. The healthcare cloud computing industry is fragmented due to companies incorporating various strategies such as collaborative agreements, mergers and acquisitions, regional expansion, and new product launches to gain competitive advantage. For instance, in November 2018, Ambra Health Declared a collaboration with Google Cloud for advance research on medical imaging data. 

Some of the major companies in the healthcare cloud computing market are CareCloud Corporation; Athenahealth; ClearData Networks, Inc.; Cerner Corporation; Epic Systems Corporation; NextGen Healthcare; Carestream Corporation; Dell, Inc.; DICOM Grid, Inc.; Merge Healthcare, Inc.; Sectra AB; INFINITT Healthcare; Siemens Healthineers; iTelagen, Inc.; NTT DATA Corporation; Ambra Health; and Nuance Communications. 

Rapid Adoption of Advanced Devices Spur the Auto-Injectors Market

3 September 2020: Auto-injector is a medical device used to deliver a single, fixed dose of critical drug. They are an effective mode of management for intramuscular drugs. The user-friendly nature of auto-injectors decreases the burden of carrying conventional syringes and needles. They are easy to use and are used for self-administration by patients or can also be administrated by untrained personnel. 

Anaphylaxis’s Sector Holds Largest Share in the Market

On the basis of disease indication type, the auto-injectors market is classified into multiple sclerosis, rheumatoid arthritis, anaphylaxis, diabetes, and other therapies. The anaphylaxis sector accounted for the largest share in 2018 owing to increasing occurrence of anaphylactic reactions on account of medications, food, insect stings, and latex. 

According to the Asthma and Allergy Foundation of America, allergic conditions are the most common health problems affecting children in the U.S. In 2015, 4.2 million kids suffered from food allergies and 8.8 million suffered from skin allergies in the U.S. In Europe, allergies are one of the most common chronic diseases with nearly 20% of these patients fear of probable asthma attack, anaphylactic shock, and even death from these reactions. 

Market Insights

Key parameter in the growing competition is rapid adoption of advanced devices for improved healthcare. Leading players in the market are frequently opting for mergers and acquisitions along with novel product introductions to hold their share and expand the product range.

As per the Centers for Disease Control and Prevention (CDC), around 54.4 million adults were identified with numerous types of arthritis such as, lupus, gout, fibromyalgia, and rheumatoid arthritis in U.S. during 2013-2015. 

Recently, Biogen Idec, Inc. received the Food and Drug Administration (FDA) approval for its novel drug Plegridy used for the treatment of multiple sclerosis. The firm has improved the drug by adding polymer termed PEG (polyethylene glycol) that increases the drug exposure in patients and decreases the frequency of drugs administration. 

Some of the key players effective in the auto-injectors market are Scandinavian Health Ltd.; Eli Lilly; AbbVie, Inc.; Owen Mumford; Amgen; Ypsomed; Biogen Idec; Teva Pharmaceutical; Mylan N.V.; Sanofi; and Pfizer, Inc.

Rising Preference for Plant Based Products Spurs Aromatherapy Carrier Oil Growth

4 August 2020: The global aromatherapy carrier oil market is expected to grow significantly on account of increasing preference for plant extracted products. Aromatherapy carrier oils are vegetable oils that are extracted from plants, cold-pressed, and are processed naturally. They possess natural and nutritional healing properties that are used as substitutes to pharmaceutical products such as tablets and medicated topical products. Increasing popularity of using natural products in wellness and beauty sector is another factor propelling the demand for carrier oils. Another factor fueling the growth of the market is using aromatherapy carrier oil reduces the usage of harmful chemical products. These oils also have applications in personal care products.

Aromatherapy helps in treating several conditions as it is considered an alternative to medicinal therapy. It provides treatment for various diseases such as skin-related problems, pain, digestive disorders, cardiovascular disorders, cold & cough, immune disorders, insomnia, anxiety, respiratory disorders, and wounds.

Skin Issues Promote Product Usage Boosting Segment Growth

On the basis of application, the aromatherapy carrier oil market is segmented into cosmetic, personal care, food and beverage, and medical. In 2018, the cosmetic segment accounted for the largest share of the market. The growth of the segment is due to rising incidences of skin problems. Other applications of carrier oils include cosmetics for skin for scar management and for hair care to strengthen hair, reduce itching, and control dandruff.

In 2018, medical segment accounted for a significant share of the market as these products are effective in treating chronic pains. Hence, due to their high potency and health benefits with negligible adverse effects, these products are widely replacing the most conventional medications. The personal care segment is expected to witness a lucrative growth over the next few years due to introduction of natural cleaning agents. Household products and cleaning agents are increasingly being used for personal care applications owing to their antiseptic and antibacterial properties.

Market Insights

Increasing preference for plant derived products is a major factor propelling the growth of the industry. Carrier oils are naturally produced and have dietary and natural healing characteristics. They also act as alternatives to pharmaceutical products such as topical medicines and pills. Consumer preference for natural products in the form of moisturizers, creams, soaps for skin care and as toiletries, and insect repellents is increasing with increasing disposable incomes. 

Major manufacturers of aromatherapy carrier oil are increasingly inclined to adopt strategic initiatives such as mergers & acquisitions, new product development, and geographic expansion. Some of the leading companies in the aromatherapy carrier oil market are Rocky Mountain Oils; Edens Garden; Plant Therapy Essential Oils; FLORIHANA; Falcon Essential Oils; and Moksha Lifestyle Products.

Innovations of New Products to Boost Demand For Orthobiologics

28 July 2020: Orthobiologics, also termed as regenerative cellular treatments, are components that orthopedic specialists use to recover injuries more rapidly. Orthobiologics are used to recover the healing of injured muscles, broken bones, ligaments, and tendons. These products are made from constituents that are naturally found in your body. 

Orthobiologics associated products comprise development factors that frequently secrete growth factors to recover pain, help rebuild the normal functioning, and facilitate tissue healing. These orthobiologics also have application for the treatment of situations such as spinal fusion and fracture recovery There are several categories of orthobiologics present in the industry, which depend on the various mechanism of actions.  

Viscosupplementation Product Segment to Dominate in the Forecast Period

On the basis of product, the orthobiologics market can be classified into viscosupplementation, bone morphogenetic protein (BMP), demineralized bone matrix (DBM), stem cell therapy, synthetic bone substitutes, and allograft. High demand for viscosupplementation will lead to high adoption rate thereby boosting the segment.

The dominant share of the orthobiologics is attributed to high acceptance of these products because of widespread availability and unprecedented approval in diseases such as hip degenerative joint disease and osteoarthritis. In addition, the large share of product segment is attributed to lower cost of viscosupplementations and increasing occurrence of osteoarthritis of the hip and knee joints among the geriatric populace. 

The high acceptance rate is supposed to be a significant advantage related to viscosupplementation. These advantages comprise reduced pain, better knee movement, fewer side effects, and relatively lesser invasive in nature. It is also supposed to be an outcome of extensive demand for minimally invasive operational procedures leading to high adoption by the patient populace base.

Spinal Fusion Accounted for Majority Share in the Application Segment

The major application variants of the orthobiologics include reconstructive surgery, trauma repair, and spinal fusion. The spinal fusion sector accounted for more than half of the market share and is anticipated to expand at the fastest CAGR in the forthcoming period. 

The growth of spinal infusion is attributed to demineralized bone matrices, constant saturation of bone morphogenetic proteins, and allografts and autografts in spinal fusion surgeries on account of its ability to offer rapid bone healing and high bone stability thereby improving long-term spinal diseases. Reduced hospital visits and stay duration and the fast stimulus of cells to start bone formation are the other benefits of orthobiological products in spinal fusion. 

Hospitals Segment to have a Dominant Share in the End User Segment

On the basis of the end user, the orthobiologics can be classified into orthopedic clinics and hospitals. The hospital's sector accounted for the dominant share in the end user segment and is anticipated to expand at the fastest CAGR in the forthcoming period. 

Increasing acceptance of orthobiological products in reconstructive and spinal surgeries performed in hospitals is a major factor attributed to the growth of the segment in the forecast period. Furthermore, the easy availability of a wide range of orthobiologics in hospitals and specialized patient care is likely to boost the demand for the market in the forecast period. 

Additionally, frequent re-admissions, large procedure volumes, and high patient turnaround are contributing to the segment growth. Also, the supportive infrastructure facilities exact operative methods is further estimated to raise the growth potential of the segment in the years to come.

Market Insights:

The key companies include new product growth activities, distribution improvement strategies, and collaborations, frequent product approval and mergers & acquisitions. In May 2016, NuVasive Inc. introduced AttraX Putty, the next generation biologics technology, which is an artificial bone graft, designated in posterolateral spinal surgery, as an autograft extender. This introduction of the product was carried out to gain an advantage and increase the product range over the market players. 

Medtronic is one of the topmost global players in the orthobiologics market on account of the rapid successful launch and fast acceptance for Infuse bone morphogenetic protein. This company is anticipated to withstand the highest share in the years to come on account of the robust sales force for Infuse and higher cost and FDA support received for the use of Infuse in new spine surgery indication in April 2018. 

Leading players operating in the orthobiologics market include Smith & Nephew plc; Medtronic; Stryker Corporation; Genzyme; and DePuy Synthes, Inc.

Good Compressibility Fuels Demand of Superdisintegrants in Oral Drug Delivery

14 July 2020: Superdisintegrants is a type of excipient used for the tablet-based drug delivery in the pharmaceutical industry. Superdisintegrants are also added when solid dosage form drugs such as tablets or pills disintegrate after they are submerged in liquid. Good compressibility, poor solubility, good mouth feel, and good compatibility with other excipients are some of the useful properties of superdisintegrants. Superdisintegrants products are usually in the form of tablets, capsules, and pills due to high demand for orally delivered medicines among consumers. 

Crospovidone Ability to Stabilize Amorphous State Of Drugs Promote Segment Growth

Based on product, the superdistintegrants market is segmented into croscarmellose sodium, crospovidone, sodium starch glycolate, ion exchange resin, and others. In 2016, Crospovidone accounted for the largest share of the segment due to rapid solidification rate and inhibition of drug recrystallization. Crospovidone also has the characteristics to stabilize the amorphous state of drugs and has excellent dissolution and disintegration property, which is usually used to enhance the preparation of capsules, granules, and tablets. These factors contribute in boosting the growth of crospovidone segment.

Locust bean gum, gellan gum, and Isapghula husk, are some of the natural superdisintegrants that are expected to witness rapid growth over the next few years. Natural superdisintegrants have instant swelling characteristics due to its high hydrophilic nature and when they come into contact with water it results in rapid disintegration of tablets. Apart from these natural superdisintegrants, researchers are continuously inclined to investigate novel disintegrating agents. Products such as chitosan, modified tapioca starch, chitin, cross-linked carboxymethylguar, polymerized agar acrylamide, and xylem, have been used for testing modified natural products.

Market Insights

Increasing geriatric and pediatric population, growth in the generic drugs market, and development of new superdisintegrants for the pharmaceutical industry are driving the growth of the market. Research and the developments made in the pharmaceutical and the healthcare industry are also boosting the growth of the market. In Organization for Economic Co-operation and Development (OECD) countries, pharmaceuticals now account for about 20% of total health spending; among the top pharmaceutical spender out of the OECD, Canada is at the top.

Due to presence of large number of companies, the global superdisintegrants market is fragmented in nature. Mergers, acquisitions, and regional expansion are the key strategic undertakings of these companies to increase their market share during the forecast period. 

Some of the leading companies operating in the superdisintegrants market are Ashland Global Holdings Inc.; BASF SE; The Dow Chemical Company; Roquette Frères S.A.; FMC Corporation; DFE Pharma; Huber Corporation; and Nippon Soda Co., Ltd. 

Ovarian Cancer Diagnostic Promotes Rapid Detection and Treatment of Cancer

3 July 2020: Ovarian cancer is the tenth most common cause of cancer among women in the United States and the fifth most common cause of cancer deaths in women across the globe. The incidences of ovarian cancer are high in women aged 55-64 years and the major symptoms are abdominal and pelvic pain, urinary symptoms, bloating, and difficulty in eating. Staging process helps identify ovarian tumors, calculate their size, and detect metastasis and invasion and in order to improve patient survival rates early detection and diagnosis are of utmost significance. 

Advanced Imaging Techniques Fuel Segment Growth

Based on cancer type, the ovarian cancer diagnostic market can be segmented into epithelial tumor, germ cell tumor, stromal cell tumor, and others. Based on the location where cancerous cells have developed, the type of ovarian cancer is determined. In 2018, in this segment epithelial tumors remained a forerunner, accounting for over 90% of all ovarian malignancies. Epithelial tumors can be mucinous, serous, endometrioid, or clear cell. Treatment options and survival rates are majorly reduced due to diagnosis of almost seventy to eighty percent of patients in the advanced stage.  

Stromal cell and germ cell tumors collectively own a small share of the ovarian cancer diagnostic market. Stromal tumors develop in the tissues responsible for producing hormones such as testosterone, estrogen, and progesterone while in women aged between 20 to 30 years, germ cell tumors are most prevalent. 

In 2018, imaging techniques accounted for the largest share of the market due to its extensive usage in cancer staging and increasing importance of early diagnosis of the disease. In order to measure the size and view a tumor internally, transvaginal ultrasound remains the preliminary imaging technique while a CT scan is preferred for cancer staging and is limited to small tumors. In order to detect metastasis and disease severity, more advanced imaging techniques such as PET and MRI scans are used. The market for blood tests is expected to witness a steady growth on account of increasing consumer awareness and technological advancements.

Market Insights

Growth of the market can be attributed to rising prevalence of ovarian cancer and emergence of novel diagnostic products. There is an increasing need to develop novel therapies and new medicines for early and timely diagnosis of this cancer and its treatment. Thus, the global market for diagnostics and therapeutics shows immense potential for growth and development. Rise in funding for ovarian cancer research and increase in number of initiatives by governments are major factors responsible for driving the market growth. 

Some of the major companies of the ovarian cancer diagnostic market are GlaxoSmithKline plc; F. Hoffmann-La Roche Ltd.; Johnson & Johnson Services, Inc.; Siemens Healthcare GmbH; AstraZeneca plc; Quest Diagnostics Incorporated.; Bio-Rad Technologies Inc.; Thermo Fisher Scientific; and Abbott.

New Product Development to Spur Contraceptives Demand

23 June 2020: Contraception is a deliberate prevention of pregnancy by interfering with the normal procedure of fertilization, ovulation, and implantation by using drugs, barriers, surgical techniques, or medical devices. Development of products such as vaginal rings, self-administrative contraceptive injections, sub-dermal contraceptive implants, non-surgical permanent contraception devices, etc. is the emerging trend in the market. The contraceptives products are in the market for more than 50 years and are mainly used by 100 million women worldwide. 

Product Insights: 

The major product variants of the contraceptives market include Contraceptive Drugs (Topical, Contraceptive Pills, and Injectables), and Contraceptive Devices, (Vaginal Implants, Female Condoms, Male Condoms, Diaphragms, Subdermal Implants, IUDs (Hormonal IUD, and Copper IUD) and Sponges). 

The Male and female condoms, subdermal implants, sponges, vaginal implants, IUDs, and diaphragms are significant devices and estimated to account for the major share of the market in terms of revenue. The growth of this segment is attributed to the increase in the consciousness level about the sexually transmitted disease (STD) and efficiency of condoms to avoid the infections, including HIV.

The most accepted form of long-acting reversible contraception comprises intrauterine devices (IUDs). The intrauterine devices (IUDs) sector is one of the largest shares of the market on account of increasing demand in the Asia Pacific and Europe region. The growing number of gynecologists advising for these devices for contraception is anticipated to propel this segment over the forthcoming period. The Mirena, a hormonal IUD, is extensively used in North America and is anticipated to sustain the growth of the contraceptives market. 

Market Insights: 

Competition in the contraceptive industry is anticipated to grow moderately in the forthcoming period. The contraceptives making companies are under constant pressure to introduced technologically advanced and new products.

In order to withstand the market, these companies accept numerous strategies such as expansions, acquisitions, new product development, mergers, and joint ventures, among others. For example, in July 2018, the Government of India introduced an app “Antararaj” in the states of India. The app will allow users to track the usage of contraceptive services, thereby also reducing the chances of drop-outs.

Leading players operating in the contraceptives market include Teva Pharmaceutical Industries; Pfizer Inc.; Merck & Co; Reckitt Benckiser Plc; Church & Dwight; Mayer Laboratories; Actavis plc; Cooper Surgical; and The Female Health Company.

Bioinformatics Improves Drug Discovery Process thus increasing the Demand

16 June 2020: Bioinformatics is an integrative field that develops software and systems tools for understanding the biological data. It mainly combines biology, computer science, mathematics, statistics, and information engineering to understand and examine biological data. The recognition of candidate genes and single nucleotide polymorphisms (SNPs) are the most common uses of bioinformatics. In the past years, the scope of bioinformatics has extended significantly. Bioinformatics also tries to understand the structural principles within the nucleic acid and protein sequences, which are stated as proteomics.

Bio-Content Processing and Management Sector Accounted for the Largest Share in the Market 

The major product variants of the bioinformatics market include bio-content processing and management, and genetic sequence platform. The bio-content processing and management sector accounted for the largest share in the market and is anticipated to expand at the fastest CAGR in the forthcoming period. The factors such as high usage rates of bioinformatics software and tools in database management is the primary reason attributing towards its large share in the bioinformatics in the years to come. 

On the other hand, the genetic sequence platform are anticipated to witness a high revenue share in the years to come. The factors attributed to the growth of genetic sequence platform segment include increasing demand for exome and genome sequencing technologies as a result of decreasing prices of genetic sequencing. In addition, there have been numerous developments in genomic technology that have given rise to substantial improvements in availability of predication tools for secondary and tertiary structures of proteins and other biomolecules. 

Expected development of imagining softwares used for high performance sequence examination comprising protein annotation, and DNA sequences, is also a factor anticipated to boost the bioinformatics growth over the forthcoming period. 

Market Insights: 

The key companies are involved in RNA sequencing capabilities to further decrease the prices of genome sequencing. The development of next generation sequencing technologies is anticipated to propel the bioinformatics industry in the forecast period. For example, in January 2018, Thermo Fisher Scientific announced Ion Gene Studio S5 Series, a line of extremely adaptable next generation sequencers. 

Leading players operating in the bioinformatics market include BIOVIA; IBM Life Sciences; Life Technologies Corporation; 3rd Millennium Inc.; Agilent technologies; Celera Corporation; Bio Wisdom Ltd.; Rosetta Bio software; and Affymetrix.

Pharmaceutical Grade Lactose Offers Efficient Compatibility with Active Ingredients

4 June 2020: The pharmaceutical grade lactose market is witnessing considerable growth due to increase in infant population across the regions. It also has quality characteristics such as immune cell activation and iron absorption, and produces cytokines, driving the growth of the market in the coming years. 

Pharmaceutical grade lactose is used while manufacturing capsules and pharmaceutical tablets as fillers. Number of support initiatives from government bodies and rising awareness about usage of pharmaceutical grade lactose are the factors promoting growth of the market. It is also used as drug formulation, in nanotechnology, and also an excipient in drugs as it is efficiently compatible with other active ingredients. 

Support from the Various Government Bodies Promote Market Growth

On the basis of region, Europe held the largest market share due to the presence of a well-established healthcare sector and outsourcing of pharmaceutical products. Factors likely to propel growth of the market are product development and innovation due to different initiatives undertaken by regional governments.

Increasing demand for infant formula is expected to fuel the industry growth in North America. Government policies motivating and supporting the regional players to increase investment is anticipated to encourage growth of the pharmaceutical grade lactose in the coming years.

In developing countries such as India and China, increasing birth rate has resulted in high demand for the pharmaceutical grade lactose. Low labor costs and lack of stringent government regulations are factors responsible for increased production. Efforts to provide affordable medicines by governments and prevalence of chronic diseases are anticipated to drive the market in Central and South America over the forecast period. 

Market Insights

Leading Companies are keen to expand their portfolio by employing various strategies such as collaborations, joint ventures, new product development, partnerships, and agreements in order to strengthen their market presence. Major players are inclined to focus on new strategies and are investing in R&D to gain a competitive edge in the market. 

Leading market players of the pharmaceutical grade lactose market include Kerry Inc.; Merck KGaA; BASF SE; ALPAVIT; BASF SE; Meggle; Armor Pharma; Novartis AG; Sigma-Aldrich Corporation; GlaxoSmithKline plc; Bayer AG, Abbott Laboratories; AstraZeneca plc; and DFE Pharma.

Cardiovascular Ultrasound (CVUS) Provides Enhanced Diagnosis of Heart Diseases

14th May 2020: The cardiovascular ultrasound (CVUS) market is likely to witness growth due to increasing prevalence of cardiovascular disease and rise in penetration of preventive medicine across the globe. Cardiology is a study that involves structures of heart and their functions in medicine. Major function of heart is blood circulation and carrying oxygen through blood. Noninvasive ultrasound technology is used by cardiologists, vascular surgeons, and internal medicine providers for imaging to diagnose and analyze function of the heart. 

Echocardiography Enables Detection of Heart Abnormalities before Birth  

Based on type, the market is segmented into transesophageal echocardiography, transthoracic echocardiography, and fetal echocardiography. The fetal echocardiography segment is likely to witness the fastest growth over the forecast period. 

In order to check all the four chambers of the heart and to track the development, fetal echocardiogram is used in the second trimester of the pregnancy tests. It enables visualization of the structure of the heart of the unborn child. Fetal health monitoring and increased awareness regarding the same has resulted in the surge in demand for cardiovascular ultrasound.

Transesophageal echocardiography is used when other procedures are unable to provide results. Increase in incidences of cardiovascular diseases (CVDs), technological advancements, and advantages of echocardiography over other imaging technologies are the factors responsible for growth of the segment. Cardiovascular ultrasound is highly noninvasive, reducing the duration of hospital stay, which is further fueling the growth of the market. 

Market Insights

The growth of the cardiovascular ultrasound industry is due to the benefits provided by the technology such as rapid results and quality images of heart conditions. Increasing R&D activities, rising investment in healthcare and meditech industry, and high prevalence of cardiovascular diseases are the key factors driving growth of the cardiovascular ultrasound industry. Technological advancements in heart related conditions such as lateral gain control, tissue enhancements, tissue Doppler, advanced dynamic flow, and stress echo provides varied growth opportunities for the market players. 

Major companies of the cardiovascular ultrasound industry such as Philips Healthcare and Siemens Healthcare have B/W devices, which help to shift to the color mode of the ultrasound imaging to provide clarity and better diagnostic. For instance, Hitachi provides these color systems that are available in many countries around the world. 

Some of the leading companies of the cardiovascular ultrasound market include Siemens Healthcare; GE Healthcare, Inc.; Hitachi; Philips; Canon Medical Systems Corporation; and Fujifilm Medical Systems.

Impact Of Covid-19 On Professional Service Robots Market

30 April 2020:  When we hear the word robot, many of us picture human-like machines made of metal, but that's not always the case. A Robot can be referred to as a machine able to automatically perform a task or series of tasks based on its programming and its environment.

Before jumping onto professional service robots, we need to be familiar with the word robotics. Robotics is a sub-field of automation that combines several different disciplines, all aimed at creating tools that can perform tasks that are too time-consuming, risky, or need more precision than the average person can perform.

Now, as we are familiar with robotics. Let's hop on to professional service robots.

What is Professional Service Robots?

A professional service robot is a type of robot which is used within a professional environment to perform challenging tasks with higher reliability and efficiency by assisting humans rather than replacing them. They are either semi or fully-autonomous robots and are installed in difficult situations, such as space and defense sectors, agricultural applications, and demolition, to automate hazardous or laborious tasks. Professional service robots primarily find their use in the retail, hospitality, health care, and logistics industries. Lately, owing to the technological advances in the field of artificial intelligence and machine learning, motion control, and various other fields, the market for professional service robots has expanded. The global professional service robots market is expected to reach USD 182.0 billion by 2027, expanding at a CAGR of 41% from 2020 to 2027, according to a research by Grand View Research, Inc.

Uses Of Professional Service Robots

Professional Service Robots are used in a range of industries owing to their productivity. Few of its uses are:

Agriculture: Professional service robots are experiencing high demand in the agriculture sector owing to its capability to perform labor-intensive agriculture practices.

Defense: When used in the defense sector professional service robots primarily assist the military in combat scenarios. Its key job is to enhance a soldier's capability to neutralize the enemy. With the usage of professional service robots in defense, militaries gain an extra edge by giving its soldiers an advantage at the ground level.

Logistics: Professional service robots are primarily used in the logistics industry to move and store goods, to keep the supply chain moving. Professional service robots offer great productivity and efficiency by reducing manual labor.

Customer Service: Professional service robots that come in humanoid and non-humanoid forms are used in the customer service segment. Its key usage involves assisting customers in finding an item or completing a task. These robots are generally deployed in the retail industry to assist the customer.

Healthcare: In the healthcare sector, skilled professional service robots are used to boost the overall quality of patient care. It reduces the workload of medical staff, allowing them to spend more time directly caring for patients, while at the same time creating major operating efficiencies and reducing costs for healthcare services.

Along with these major usages, professional service robots also finds its usage in other segments such as space, construction, inspection, all of which are expected to augment the market growth in the future.

Applications Of Professional Service Robots

The automation of logistics is gaining momentum because of the customer-driven economy, which requires scalable and quick delivery of goods. Automated guided vehicles (AGVs) as the primary application in the logistics industry are used in warehouses to transport goods. These AGVs operate in a predefined pathway for moving and storing goods in the storage facilities. It reduces the timeline of product movement along with reducing the cost of logistics.

The numerous application of healthcare professional service robots include remote care robots, disinfectant robots to reduce hospital-acquired diseases, and robotic exoskeletons that provide external assistance and muscle recovery training. Recently, UVD Robots, a Danish company announced to ship its self-driving disinfectant robots to several hospitals in China to help fight the COVID-19 pandemic.

Defense professional service robots are custom made in different sizes and shapes according to the need of the organization. These tactically important robots serve the military by protecting and helping soldiers in numerous situations. Exoskeleton robots are one of the few professional service robots used in defense applications, these come in various forms to enhance strength and protect soldiers from strain injury. This growing demand for exoskeleton robots and Research & Development in the sector is expected to further propel the growth for the market.

Future Of Professional Service Robots

The future of professional service robots is on the rise owing to the technological advancements which can solve some of the biggest barriers the industry is facing.

The advancements in Artificial Intelligence and Machine Learning techniques can bring professional service robots much closer to the cognitive condition where they can interact with a human in a particular environment. Every step in the development of improving the natural language processing of professional service robots is significant. Apart from cognition, artificial intelligence allows humans to streamline back-end processes, respond to data-related problems, and meet compliance that helps humans to speed up customer service and carry out administrative tasks more efficiently.

The technological advancements in edge Artificial Intelligence (AI) chips which can run on a device without a cloud connection offers big benefits to privacy and speed as AI processing can happen on the device itself. These chips specifically designed for AI computations draw far less power for a given amount of processing, making it easier to fit the necessary number of chips into the design of a professional service robot.

Connectivity is one of the major challenges in the deployment of robots. Professional service robots require a stable and reliable connection whenever it needs to go mobile. Wi-Fi and 4G can't guarantee the quality of service plus 4G wireless networks can be expensive with excessive limitations. This is where the development of 5G technology excites the industry and can solve the issue with improved reliability, reduced latency, and increased connection density.

Impact Of Covid-19 On Professional Service Robots Market

As the number of people infected with the coronavirus continues to rise globally, it is expected to drive the market growth for professional service robots. The outbreak of COVID-19 has left the healthcare sector with staff shortages whereas the need for social distancing has left the service industry high and dry. Professional service robots can fill in the gaps in these sectors. Robots can be deployed in hospitals to minimize human intervention at any level. These robots can perform tasks such as Inspection, Cleaning, Security to assist the staff during this pandemic. For instance, medical professionals in the U.S. are using a telepresence robot that is equipped with a stethoscope which helps take vitals of the infected person. InTouch Health robot, which is fitted with a microphone and a camera communicates with the infected person and minimize medical staff's exposure to the disease.