Wednesday, 7 September 2016

Global Mobility Scooter Market Size, Share and Forecast Up to 2024

Mobility scooters are electronic transport vehicles used as a mobility aid, mostly occupied by single person. These mobility scooters are operated on battery and varies from 3 wheels to 5 wheels. Mobility scooters assist in the movement of a person from one place to another, especially long distance travelling. Gasoline-powered scooters are very rare in the market and are being rapidly replaced by electric or battery-powered scooters. Mobility scooters are available in two forms worldwide: front-wheel drive and rear-wheel drive. Front-wheel drive scooters are smaller and are primarily used indoors, whereas the rear-wheel drive scooters are used both outdoors and indoors. The rider weight capacity of a rear-wheel drive scooter is higher than the front-wheel drive scooter. Mobility scooters acts as an alternative to wheelchairs and is expected to have a significant growth rate during the forecast period from 2016-2024. The use of mobility scooters are supported with government funding in most of the regions across the globe. However, comparative high cost than wheelchairs is likely to hinder the growth of the market segment. Thus, the government interventions has made the use of mobility scooter cost effective through various schemes offered to the users. The mobility scooters offers comfort, ease of use and elegance, which instead is not offered by traditional wheelchairs, makes the mobility scooter market more potential. 

Moreover, rising geriatric population, increasing incidences of knee and spine disorders, rising accidental and innate deformities are the important factors leading to the growing demand for mobility scooters globally. In order to assist the research and development in mobility aids, various national and international organizations participate actively along with regional government. Various government initiatives such as Affordable Care Act in the U.S., offers subsidy on mobility scooters for patients. Thus, market has high potential to grow in terms of its population reach, which is actively supported by government and non-government bodies. In addition, availability of mobility scooters in different designs and features has increased the attention of users towards mobility scooters. However, lack of infrastructure in many parts of the world and high cost of the devices restricts the uptake to some extent. Moreover, the use of refurbished mobility scooters is another biggest challenge faced by the market.

The mobility scooter market can be segmented into by type of design, by number of wheels, by distribution channel and by geography. In the terms of design, the mobility scooter is classified into boot scooters, mid-sized scooters and on road scooters. By wheels, the mobility scooter is classified into 3 wheels, 4 wheels and 5 wheels mobility scooters. By geography, the U.S. and European regions mainly U.K., occupies significant share of the mobility scooter market. North America dominates the market, due to government policies and high demand for mobility scooters. Moreover, baby boomer effect, sophisticated reimbursement policies, high awareness about the device are the other key factors favoring the market in North America. Followed by North America, Europe accounted for the second largest share of the global mobility scooters market due to increasing awareness and rising disposable income. However, Asia Pacific is expected to grow at a higher growth rate owing to huge untapped population and increasing health care awareness among the patient population.

The major players having presence in the global mobility scooters market include Invacare, Afikim Electric Vehicles., Drive Medical Design and Manufacturing, Golden Technologies Inc., Pride Mobility Products, Hoveround Corp., Sunrise Medical, Van Os Medical, Electric Mobility, Amigo Mobility International Inc., Quingo, among others.

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. 

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Friday, 2 September 2016

Modern Tech Lends Helping Hand to Global Compression Therapy Market Growth

Inadequate regulations for the commercialization of products and forward integration by raw material suppliers have kept the threat of new entrants high in the global compression therapy market, finds Transparency Market Research in a new study. This, combined with presence of a large number of local and global players, renders the market highly fragmented. Suppliers in the market also don’t enjoy a high bargaining power due to their presence in large numbers.

The majority of the companies operating in the market are vying to emerge dominant through mergers and acquisitions. They are also witnessing attractive prospects in the emerging economies of Asia Pacific. TMR recommends that adopting collaborative strategies could help these companies capitalize on untapped opportunities in the region. With the population in China, Japan, Singapore, and South Korea increasing at a rapid pace, combined with their increasing interest in sports and fitness, manufacturers of compression therapy products stand chance to gain a competitive edge in the market.

Capitalizing on Untapped Opportunities in Emerging Economies Could Boost Market

TMR finds that the ripest opportunities lie in emerging economies of Latin America and Asia Pacific. “Immense potential for healthcare products in countries such as South Korea, Brazil, China, Mexico, and India will prove to be lucrative for companies vying for sizeable share in the global compression therapy market,” said a TMR analyst. “Due to the increasing investment on the healthcare infrastructure, increasing disposable income, and the rising incidence of chronic ailments, these regions exhibit robust prospects for the compression therapy market,” he added.

In the last few years, compression therapy has emerged as one of the most preferred procedures for treating sports related injuries. The growth witnesses by the market therefore corresponds directly to the growing popularity for sports worldwide. Besides this, the rising prevalence of obesity and increase in the number of orthopedic surgeries also create ample opportunities favoring the market’s expansion.

Absence of Reimbursement Regulations to Negatively Impact Sales of Compression Therapy Products

Despite growth prospects for the market being robust, the absence of proper reimbursement will have an adverse impact on its growth trajectory. Nevertheless, the increasing investment on the development of the healthcare infrastructure in developing companies will provide considerable opportunities for vendors to boost their sales.

Presently, the market has been witnessing lucrative prospects for the sale of static compression products. Supported by clinical evidence, static garments are preferred more by doctors as patient care products. Additionally, patients favor static compression hosiery more since it is made with comfortable material and due to its aesthetic appeal.

North America Exhibits Highest Prospects for Compression Therapy

Regionally, the prospects for compression therapy seem most lucrative in North America. The region held over 47.2% of the global compression therapy market in 2015, followed by Europe, which accounted for a share of 32.2% in the market. Obesity being a widespread problem in developed economies such as the U.S., North America will be witnessing a high incidence of vascular diseases. This is evidently proving favorable for enterprises offering compression therapy products to maximize their sales.

Transparency Market Research forecasts the global compression therapy market to reach US$4.25 bn by 2024 from a valuation of US$2,693.4 mn in 2015. If these figures hold true, the market will exhibit a CAGR of 5.3% between 2016 and 2024.

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Thursday, 1 September 2016

Nonalcoholic Steatohepatitis Therapeutics Market to Reach US$20.27 bn by 2025

According to a new market report published by Transparency Market Research “Nonalcoholic Steatohepatitis Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2025”, the nonalcoholic steatohepatitis (NASH) therapeutics market is anticipated to expand at a CAGR of 10.7% from 2015 to 2025 to reach US$20.27 bn by 2025.

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Nonalcoholic Steatohepatitis (NASH) is a syndrome that advances in patients who are not alcoholic; it causes liver damage that is histologically indistinguishable from alcoholic hepatitis. The major feature in NASH is fat in the liver, along with inflammation and damage. Most people with NASH feel well and are not aware of their liver problem. However, NASH can be severe and can lead to cirrhosis, in which the liver is permanently damaged and no longer able to work properly. It develops most frequently in patients with at least one of the following risk factors as obesity, dyslipidemia, and glucose intolerance. Pathogenesis is not clearly understood but seems to be linked to insulin resistance. Most of the patients are asymptomatic. Laboratory outcomes include elevations in aminotransferase levels. Biopsy is essential to confirm the diagnosis. Treatment mainly focusses on elimination of causes and risk factors. 

The prevalence of NASH and NAFLD is increasing across the globe but it is more in developed regions such as North America. Both NASH and NAFLD are becoming more common, perhaps because of the greater number of Americans with obesity. In the past few years, the rate of obesity has almost doubled in adults and tripled in children. Obesity also adds to diabetes and high blood cholesterol, which can further complicate the health of people suffering from NASH. Diabetes and high blood cholesterol are also becoming more common among Americans. 

Currently, no specific therapies exist for NASH treatment. The most important recommendations given to persons with this disease are weight reduction (if overweight), following a balanced and healthy diet, increasing physical activity, avoiding alcohol and avoiding unnecessary medications. 

The NASH market is segmented based on drug type which includes potential phase III candidates such as Obeticholic acid (OCA), Aramchol, Saroglitazar and Elafibranor. Moreover, the report enlists the candidates in Phase I and Phase II clinical trials. Based on the drug type, Elafibranor is expected to account for a major share of this market and the market for Elafibranor is expected to grow at the highest CAGR. This growth is majorly due to Elafibranor which is considered to be the most advanced drug in this category. 

Major players in this market are Astazeneca Plc (U.K.), Intercept Pharmaceuticals Inc. (U.S.), Galmed Pharmaceuticals Ltd. (Israel), GENFIT SA (France), Gilead Sciences, Inc. (U.S.), Zydus Cadila (India), Immuron Ltd. (Australia), Conatus Pharmaceuticals (U.S.), and Tobira Therapeutics, Inc. (U.S.).  

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Tuesday, 30 August 2016

Dyslipidemia Drugs Market to Decline at 10.30% CAGR between 2015 and 2023

The research report, titled “Dyslipidemia Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” states that the impending patent expiry of blockbuster dyslipidemia drugs is likely to dilute profit margins of drugmakers in this market. This factor is expected to influence the global dyslipidemia drugs market negatively over the forecast period, resulting in a decline in its market valuation.

Transparency Market Research (TMR) has recently published a market study on the global market for dyslipidemia drugs and projected that this market will decline at a CAGR of 10.30% during the period from 2015 to 2023. The worldwide dyslipidemia drugs market stood at US$17.9 bn in 2014. Analysts at TMR estimate the overall value of the market to reach US$6.9 bn by the end of the forecast period.

The delay in the approval of new dyslipidemia drugs is also projected to hamper the growth of this market significantly in the coming years. However, the increasing patient pool, suffering from an excess of cholesterol and other defects caused by triglyceride, is likely to drive the demand for dyslipidemia drugs in the near future, states the study.

Bile acid resins, statins, niacins, omega-3 fatty acid derivatives, fibric acid, cholesterol absorption inhibitors, and combination drugs are the major therapeutics available in the global dyslipidemia drugs market. As per the report, the statins segment led the overall market in 2014 and is projected to retain its position during the forecast period.

The report segments the global market for dyslipidemia drugs into Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. North America among all, dominated the worldwide dyslipidemia drugs market in 2014. Favorable government policies for drug approval in this region, together with the continual rise in the prevalence of dyslipidemia, have substantially propelled the North America market for dyslipidemia drugs.

The same year, Europe occupied the second position in the worldwide dyslipidemia drugs market with a share of around 25%. The higher disposable income of consumers in the region allows them to afford branded formulation. This in turn provides favorable growth opportunities to drug manufacturers, in this regional market, states the report.

In Europe, Germany was the biggest domestic dyslipidemia drugs market in 2014. It is likely to maintain its dominance over the forecast period, owing to the increasing incidence of dyslipidemia, resulting in the high demand for dyslipidemia drugs.

Abbott Laboratories, Amgen Inc., AstraZeneca Plc, Bayer AG, Mylan N.V., Bristol-Myers Squibb Co., Novartis AG, Pfizer Inc., Merck & Co. Inc., Shionogi & Co. Ltd., Teva Pharmaceutical Industries Ltd., and Takeda Pharmaceutical Co. Ltd. are some of the major participants in the global dyslipidemia drugs market, mentioned in this report.

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Monday, 29 August 2016

Prefilled Syringes Market Observes Shift from Glass to Polymers for Manufacturing Syringe Barrels

Transparency Market Research has recently published a report on the global prefilled syringes market. The report, titled “Prefilled Syringes Market - Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast, 2013 - 2019,” offers an insightful study on the global prefilled syringes market and projects the expansion of the market at a CAGR of 13.3% during the period from 2013 to 2019. The global prefilled syringes market stood at a valuation of US$2.09 bn in 2012 and is anticipated to be worth US$4.98 bn by 2019. The report identifies the key factors impacting the growth of the market and profiles some of the prominent players in the market. 

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In the injectable drug delivery devices market, the prefilled syringes segment is one of the fastest growing segments. Various benefits of prefilled syringes including reduced risk of cross contamination, and ease of handling and administration have led to their increased demand in the market. 

The report states that the continuous growth in the injectable drugs market worldwide has boosted the growth of the global prefilled syringes market. The advantages of prefilled syringes over conventional vials and syringe packing systems have supported the market’s growth. Increase in the demand for point-of-care administration and technological advancements in the manufacturing of prefilled syringes are expected to augment the growth of the market during the forecast horizon. However, the introduction of alternative drug delivery methods might hamper the growth of the market.

On the basis of material used for the manufacturing of barrel of the syringe, prefilled syringes can be classified into two types: Plastic prefilled syringes and glass prefilled syringes. The glass prefilled syringes are considered as the standard syringes in the industry and hence, this syringe segment dominates the overall market in terms of volume and revenue. However, the market is witnessing the extensive utilization of polymer or plastic by syringe manufacturers.

Key regions in the global prefilled syringes market are Europe, North America, Asia Pacific, and Rest of the World. In terms of revenue and volume, Europe has emerged as the largest regional market for prefilled syringes. During the forecast horizon, North America is projected to witness expansion at a CAGR of 15%. The robust growth of the North America prefilled syringes market can be attributed to the increased shift from vials to prefilled syringes and the presence of some of the key drug manufacturers in the region. While Asia Pacific has been one of the late adopters of prefilled syringes, the region is anticipated to grow rapidly owing to the presence of a large patient pool and the growing awareness about prefilled syringes. 

Some of the key players in the global prefilled syringes market are Schott AG, Gerresheimer AG, Becton, Dickinson and Company, Nipro Corporation, Baxter International Inc., Ypsomed Holding AG, Stevanato Group, Unilife Corporation, Bespak, West Pharmaceutical Services, Inc., and Vetter Pharma International GmbH. These players have been profiled on the basis of company overview, product portfolio, and financial overview. For the new and existing players in the market, the report offers strategic recommendations such as the adoption of polymer technology for the manufacturing of prefilled syringes and investments in the emerging markets in North America.

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Hospital Clinical Chemistry and Immunodiagnostics Market Analysis, Trends and Share - 2020

The global market for hospital clinical chemistry and immunodiagnostics is examined in a recent market research report by Transparency Market Research. The report, titled “Hospital Clinical Chemistry and Immunodiagnostics Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020,” analyzes the market on the basis of key segments, geographies, and trends.

The market has witnessed vast advances in the past few years, resulting in the development of diagnostic technologies such as spectrophotometry, molecular diagnostics, measurement of enzyme activities, electrophoresis, and separation of molecules. Developments across these specialty segments have significantly changed the way and the extent to which clinicians can diagnose, prevent, and treat a variety of diseases.

Diseases that are generally diagnosed with the help of clinical chemistry include diabetes, viral and bacterial infections, thyroid issues, cardiovascular conditions, and cystic fibrosis in newborn babies.
The varieties of tests that come under the purview of immunodiagnostics include Enzyme-Linked Immuno Sorbent Assay or ELISA and radioimmunoassay. Hospital clinical chemistry includes tests undertaken in the fields such as routine chemistry, endocrinology, drug monitoring, special chemistry, toxicology, and urinalysis.

The report analyzes detailed market data for these end-use segments of the global hospital clinical chemistry and immunodiagnostics market across key geographies, gathering qualitative and quantitative information elucidating the past, present, and the potential future state of these segments. For ease of understanding, the global market is covered by segmenting it into geographical markets such as North America, Asia Pacific, Europe, and Rest of the World.

The market has reached maturity in developed regions such as Europe and North America. Factors supporting growth of these regional markets include the easy availability of advanced and innovative medical technologies across healthcare settings, presence of some of world’s largest healthcare companies, and vast investments towards research and development activities. The vast rise in global prevalence of a number of infectious and chronic diseases has also led to the increased demand for a variety of reliable and advanced diagnostic tests, thus driving the market.

Developments in the field have also resulted in significant reduction in the complexity and duration of immunoassays, thereby bolstering market’s future growth prospects. Asia Pacific is a highly lucrative regional market for clinical chemistry and immunodiagnostics owing to the presence of a large patient pool and rising healthcare expenditures.

Factors such as advancements in diagnostic modalities, intense competition, and automation are leading to the development of vast growth opportunities. Some of the key vendors operating in the market are F. Hoffmann-La Roche Ltd., Abbott, Danaher Corporation, Siemens AG, Bio-Rad Laboratories, Inc., and Thermo Fisher Scientific, Inc.

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Friday, 26 August 2016

Government Efforts Crucial in Increasing the Availability of Teleradiology Technology Market in Asia Pacific

The global teleradiology market is expected to expand at a favorable 11.3% CAGR over the period between 2015 and 2023, and rise from a valuation of US$1,354.6 mn in 2014 to US$3,632.6 mn in 2023.

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The highly fragmented market for teleradiology features the presence of a large number of regional players, with the exception of some large companies with international presence, such as vRad, Inc., Radiology Reporting Online,  and USA Rad. North America and Europe, the regions with some of the largest vendors in the global teleradiology market, will be the key enablers of teleradiology practices across the world and play a central role in the overall development of the global market, notes a recent report by Transparency Market Research (TMR).

Acquisitions of small, regional players, and long-term contracts with remotely located community hospitals and other healthcare service providers, especially across emerging markets such as Asia Pacific and Latin America, will allow teleradiology companies to expand their global footprint. Although less in number than in the European market, teleradiology companies in North America will contribute the largest share in the overall revenues of the global teleradiology market from 2015 through 2023, thanks to their global presence.

Rise in Healthcare Expenditure and Improved Healthcare Infrastructure to Enable Widespread Adoption of Teleradiology

The vast improvement in telecommunication networks, enhanced data transfer speeds, and improved digital infrastructure of remote parts of the world has revolutionized the global teleradiology market in the past few years. In the next few years as well, developments across the data transmission field will be prove to be a major driver of the global teleradiology market, allowing its evolution from an ancillary radiology discipline to a mainstream practice.

Radiology is a cost-intensive diagnostic modality owing to the high prices of the technologically advanced medical imaging machines central to the field. This factor, in combination with the factor of unavailability of broadband networks in urban dwellings has remained one of the toughest challenges for the teleradiology market in the past years. However, substantial rise in healthcare expenditures and widened broadband networks in the past few years have enabled the widespread expansion of teleradiology practices on a global front. These factors have especially allowed the teleradiology market in extending its reach to emerging economies such as Latin America and Asia Pacific, considered to be the regional markets with the most lucrative growth opportunities.

Asia Pacific to Provide Most Attractive Growth Opportunities

North America is currently the leading regional market for teleradiology and is expected to provide considerable growth opportunities over the next few years as well. The market in the region will be driven by the digitally advanced healthcare infrastructures, integration of teleradiology services in the workflow of a vast number of medical imaging service providers, and high healthcare awareness among the population. The rising prevalence of a number of cancers in the region has also led to an increased need for effective teleradiology services in the region.

Nevertheless, Asia Pacific will provide the most lucrative growth opportunities for the global teleradiology market in the coming years. Factors fueling demand for teleradiology services in the region will be the rising expenditure on health and wellbeing, improving healthcare infrastructure, and widening network of high-speed broadband services.

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