United States Knee Implant Market By Analysis of Major Industry Segments 2016 - 2024

According to the research study, the U.S. market for knee implant offered an opportunity worth US$4.3 bn in 2015. Expanding at a CAGR of 5.30% during the period from 2016 to 2024, the market is projected to reach US$7.0 bn by the end of the forecast period. Hospitals demand a higher number of knee implants than other end users in the U.S. and are expected to remain doing so over the forthcoming years.

The leading implant manufacturers enjoy a broad presence across the U.S. Their comprehensive product portfolios and cross-selling strategies have ensured their dominance over this market in the last few years. However, over the forthcoming years, these players are expected to focus on new product launches in order to strengthen their presence in the U.S. market for knee implants.

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Dominated by Johnson & Johnson, Zimmer Biomet Holdings Inc., Smith & Nephew, and Stryker Corp., the U.S. knee implant market demonstrates a highly consolidated and competitive landscape, states a new research report by Transparency Market Research (TMR). With a share of nearly 85%, these players ran almost the whole market in 2015.

Midwest Region to Maintain Lead through 2024

In this research study, the U.S. market for knee implants has also been studied on the basis of its geographical presence. The Pacific region, the Mountain region, the South Central region, the Midwest region, the South Atlantic region, and the North East region have been considered as the prime geographical subdivisions of the U.S. knee implant market. The Midwest region has acquired the leading position in this market. The availability of numerous ambulatory surgical centers present in this region is the key factor behind this rise. The augmenting adoption of new technologies is also supporting this geographical segment in maintaining its lead.

The market for knee implants in the Midwest region is likely to remain dominant throughout the forecast period. The presence of a large pool of knee implant manufacturers and a massive and effective distribution channel are expected to aid this regional market to remain leading over the next few years.

Increasing Geriatric Population to Boost Demand for Knee Implants in U.S.

“The ever-increasing geriatric population is the key factor behind the rise of the U.S. knee implant market,” states an analyst at TMR. With the increasing age, cartilages become prone to strain, owing to less water content, leading to arthritis and cushioning at the joints, which requires knee replacement procedure. Moreover, other connective tissues, such as ligaments attached to the bones, begin becoming less flexible and more constrained, which also add to the need for these procedures. Thus, the increase in the geriatric population in the U.S. is reflecting positively on the U.S. market for knee implants.

Apart from this, the rising incidence of accidental injuries, surging prevalence of chronic rheumatic conditions, growing obese population, and the increasing adoption of advanced knee products and procedures are also propelling the demand for knee implants in this country.

On the other hand, strict regulations implemented by the FDA on knee implant products, knee implant product recall by the FDA, and the rising awareness of non-surgical alternative treatment among consumers may hamper the growth of this market to some extent in the near future, states the report.

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Global Autologous Matrix-induced Chondrogenesis Market to be worth US$186.38 mn by 2024

The leading players operating in the global autologous matrix-induced chondrogenesis (AMIC) market are working towards strengthening their foothold in emerging economies such as Brazil, India, China, Mexico, and South Africa. The strategy to expand to these countries is expected to benefit the companies as they will be able to employ cheaper skilled labor, thereby bringing down the costs of their products. Furthermore, the burgeoning medical tourism industry in these countries is also expected to augment the demand for AMIC products and procedures. The leading players in the global market as of 2015 were Geistlich Pharma AG, Zimmer Biomet Holdings, and Smith & Nephew plc. Collectively, these companies held a share of 47% in the overall market in 2015.

The global autologous matrix-induced chondrogenesis is expected to be worth US$186.38 mn by 2024 from US$89.71 mn in 2015. During the forecast years of 2016 and 2024, the global market is projected to expand at a CAGR of 8.6%.

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Collagen to Lead with Extensive Usage in Tissue Engineering Applications

On the basis of material, the global AMIC market is segmented into hyaluronic acid, collagen, polyethylene glycol (PEG), and poly lactic-co-glycolic acid (PGLA). Of these, collagen dominates the global market. However, the segment is projected witness a minor slip during the forecast period. Despite factors challenging the collagen segment, it is poised to acquire a share of 49.9% in the overall market by the end of 2024. The extensive usage of collagen for tissue engineering applications is estimated to give the segment a major boost in the coming years.

In terms of geography, the global AMIC market is fragmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Out of all these regional segments, North America is projected to lead the global market throughout the forecast period. Between 2016 and 2024, the North America AMIC market is estimated to expand at a CAGR of 8.3%. This regional market is likely to be driven by the growing pool of geriatrics.

Sports Injuries to Offer Lucrative Ground for AMIC Products and Procedures

The mounting demand for minimally invasive surgeries is expected to spike the sales of AMIC materials and products in the coming few years. AMIC is a biological treatment that uses bi-layer collagen via microfracture surgery to repair articular cartilage damage. This single-step procedure has allowed several end users to opt for the convenient solution of a minimally invasive surgery to overcome bone and joint disorders. The increasing pool of the aging population that is susceptible to such conditions is projected to provide a substantial boost to the overall market in the coming years.

The market is also likely to be driven by the increasing number of sports injuries are participation in various types of sports continues to be on the rise. The growing popularity of adventurous sports among the younger population is expected to fuel the uptake of AMIC material and products to treat sports injuries. The fast recovery rate of the AMIC has also benefited the global market as it considerably reduces the risk of unnecessary complications.

Lack of Insurance Policies for AMIC Procedures to Dampen Market Spirits

The steadfast demand for AMIC is being deterred by the inefficient reimbursement system in developing countries such as Brazil, Australia, and India.  Several health insurance companies do not insure AMIC products or procedures, which has discouraged many patients from opting for it. Furthermore, lack of clinical data supporting the advantages and the long-term benefits or consequences of using AMIC products and procedures is also restraining the growth of the global market.

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Global Mass Spectrometer Market Analysis by Segments, Size and Forecast 2016 - 2024

According to a research publication released by Transparency Market Research, the global mass spectrometry market will be showing a strong sense of competitive rivalry, especially among the leading entities. The overall number of players in the global mass spectrometry market is small and their relative market share is very large. Their established presence is expected to stifle the entry of new players into the global mass spectrometry market. The production of new mass spectrometry equipment is, however, being contended by the growing availability of refurbished ones. This applies more so to the developing economies where the cost of purchasing new equipment can be too high.

With a highly consolidated nature, the global mass spectrometry market was led by Agilent Technologies, Thermo Fisher Scientific, Inc., and Shimadzu Corporation in 2015. Their collective share in the market’s value for the year was close to 49%, revealing a very low scope of growth for smaller players at the current rate.

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The global mass spectrometry market is expected to reach US$9.99 bn by the end of 2024, after expanding at a healthy CAGR of 8.1% within a forecast period from 2016 to 2024. The market’s value was calculated to reach US$5.35 bn at the end of 2016. North America is expected to generate a massive revenue for the global mass spectrometry market owing to its booming biotech industry.mass spectrometer market

Advancements in Mass Spectrometry Open New Doors

“What drives the global mass spectrometry market at the present moment is the original scope of application of these systems, coupled with the new possibilities that are entering the market simultaneously. One of the more recent examples of technological advancements in mass spectrometry is the adoption of matrix-associated laser desorption ionization imaging mass spectrometry, or MALDI-IMS. This system allows for the examination and analysis of tissues from a diagnostic perspective and thus reduces the overall time required for complete analysis of the sample. Another recent development is the high-resolution accurate mass system, which can detect as well as deliver simultaneously a higher resolution of the full product ion spectrum and mass accuracy. These systems are expected to usher in a new era of mass spectrometry,” states a TMR analyst.

The global mass spectrometry market is also being driven by the growing use of these equipment in the industries of pharmaceuticals, life sciences, and other clinical analytics. On the competitive side, the market is being favored in overall growth by the significant mergers and acquisitions that have occurred over the past decade, which includes the acquisition of Active Spectrum, Inc., by Bruker.

High Equipment Costs Reduce Production Rates

One of the key restraints affecting the global mass spectrometry market currently, is the high cost of it research and development it takes to generate newer technologies in the market. This not only severely limits the entrance of new players into the market, but also creates a sizeable barrier of pricing for several buyers from emerging economies. Their reluctance to buy newer technologies is leading to the growth of refurbished mass spectrometry equipment, which not only reduces the overall profits that key players in the market make, but also reduces the investments they can make into advanced development of equipment.

“Despite the given restraints, research and development is still likely to be the way to go for the global mass spectrometry market, when it comes to improving the scope of opportunities in the future. The developments in continuous flow technologies have, for instance, created the space for new devices to enter the market that are significantly more efficient than their predecessors. The players from the global mass spectrometry market can also find a greater scope of opportunities in the emerging economies from Asia Pacific and Latin America – specifically Brazil – to improve their sales figures,” adds the analyst.

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Global Biodegradable Stents Market By Analysis of Major Industry Segments 2016 - 2024

The competitive landscape in the global biodegradable stents market is quite consolidated as major players in the market hold a massive chunk. In 2015, Abbott Laboratories, Boston Scientific, Inc., and Biotronik led the pack with a 61.5% share in the global market. The unwavering focus of these companies on expanding their business in newer territories has enabled them to dominate the global market. In the coming years, the players are expected to invest in advanced and sophisticated products to offer better products to the overall healthcare industry.

According to the research report, the global biodegradable stents market is anticipated to be worth US$1.7 bn by 2024 as compared to US$18 mn in 2015. During the forecast years of 2016 and 2024, the global market is expected to expand at a CAGR of 30.1%.

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Europe Emerges as Leading Regional Market Backed by German Demand

The two types of stents available in the global biodegradable stents market are coronary artery stents and peripheral artery stents. Of these, the coronary artery stents are expected to progress at a CAGR of 30.9% during the forecast period. The high incidence of coronary artery diseases is expected to drive this segment in the coming years.

In terms of regions the global market is divided into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The report indicates that Europe will emerge as the dominant segment in the global market in the coming years. This regional market is expected to surge at a CAGR of 27.2% during the forecast period. Germany will lead the Europe biodegradable stents market in the coming few years.

Rise in Cardiovascular Diseases Spikes Demand for Biodegradable Stents

The Centers of Disease Control and Prevention (CDC) states that coronary artery diseases are responsible for 370,000 deaths across the U.S. every years. The global biodegradable stents market has been growing against the backdrop of high incidence of cardiovascular diseases, which are related to coronary artery diseases. The market is also being driven by the high prevalence of chronic conditions and rising geriatric population, which is prone to cardiovascular disorders. “The growing preference for stenting procedures for treating coronary artery diseases over bypass surgeries is also anticipated to boost the sales in the global market,” estimates the lead author of this research report. This trend is likely to be a key trend in the market as stenting reduces complications, assures better success rate, fastens recovery time, and costs less.

Bare metal stents (BMS) and drug eluting stents (DES) continue to remain in the artery long after it has eluted the drug. This can lead to thrombosis, in-stent restenosis, and other complications, which can require surgical removal of the stent. Thus, use of biodegradable stents are remarkable safer as they get completely absorbed in the artery soon after the drug is eluted. This factor has won the biodegradable stents incredible traction over the past few years.

Unaffordability of Biodegradable Stents Dissuades Patients

Although the global biodegradable stents has a noteworthy CAGR, the market is likely to suffer due to the high cost of the products. Thus, the advantages of biodegradable stents are getting stymied due to their unaffordability. The premium pricing of these stents is expected to restrain the overall market’s growth in the coming years. Furthermore, the slow adoption rate of these stents in regions and countries where medical awareness is relatively low is also hampering the progress of the global market.

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Competitive Landscape for Global Psoriasis Treatment Market by Segments - 2024

The global market for psoriasis treatment demonstrates a highly competitive landscape, finds a research report by Transparency Market Research (TMR). With the rising investments in research and development in the field of psoriasis treatment, the rivalry between the leading players, such as Biogen, LEO Pharma, AbbVie, AstraZeneca, and Pfizer, is likely to intensify in the near future. 

According to TMR’s estimations, the opportunity in the global market for psoriasis treatment, which was worth US$7.8 bn in 2015, is projected to expand at a CAGR of 5.10% during the period for 2016 to 2024 and attain a value of US$12.1 bn by the end of the forecast period. TNF inhibitors have emerged as the most demanded product in this market. Researchers expect the demand to increase further and result in a more than 47% possession of this segment in the overall market by 2024. 

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North America to Remain on Top 

In this research study, the global market for psoriasis treatment has also been analyzed on the basis of geography. As per the report, Latin America, North America, Europe, Middle East and Africa, and Asia Pacific are considered as the prime regional market for psoriasis treatment. North America, which has been identified as the key contributor to the global market, is likely to remain gaining significantly from the substantial rise in the pool of patients suffering from psoriasis over the forecast period. The increased demand for psoriasis treatment products is likely to reflect positively on this regional market in the forthcoming years. 

Europe, which stood second in 2015, is, however, expected to witness a decline in its share by 2024, owing to the anticipated introduction of biosimilars over the next few years. On the other hand, Latin America and Asia Pacific are projected to witness tremendous growth in their respective markets over the forthcoming years. The growing awareness about psoriasis disease and its treatment among people residing in emerging economies, such as China and India, through a number of campaigns run by the governments and healthcare organizations is anticipated to boost the Asia Pacific market for psoriasis treatment considerably in the years to come, notes the study. 

Alarming Rise in Prevalence of Psoriasis to Prompt Drugmakers to Increase Production Capacity 

“The alarming rise in the prevalence of psoriasis is the key driving force behind the significant growth of the global psoriasis treatment market,” states an analyst at TMR. According to the WHO, between 1979 and 2008, the prevalence of psoriasis, globally, increase from 4.8% to 11.4%. The trend looks undying in the near future and is encouraging the leading drugmakers to increase their production capacities, leading to a remarkable surge in this market. The FDA approval of new biologics is also prompting them to invest heavily in research and development of psoriasis therapies. 

In addition to this, the rising access to treatment in developing economies and the presence of a robust pipeline points towards a thriving future of the global psoriasis treatment market in the years to come. However, the loss of response to current therapies and the high price of biologics may restrict the growth of this market in the near future, states the research report. 

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Global Outlook for Diabetic Neuropathy Market By Key Trends and Analysis 2025

Global Diabetic Neuropathy Market: Snapshot

A handful of international and local manufacturers with limited shares dominate the global diabetic neuropathy market. This makes the competitive landscape semi-consolidated in nature. The competition among them is intense with most spending time and money on research and development of more effective neuropathy drugs.

The global diabetic neuropathy market is being primarily driven by changing lifestyles which has mostly resulted in unhealthy dietary habits and patterns. As per WHO, about 422 were afflicted by diabetes in 2014. Apart from that, other growth drivers in the market are the approval of novel drugs to treat neuropathic pain and supportive reimbursement policies.

A report by Transparency Market Research, forecasts the global diabetic neuropathy market to become worth US$5.718 bn by 2024 from US$ 3.6 bn in 2016 by rising at a steady CAGR of 5.4% between 2017 and 2025.

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Drugs administered to treat neuropathic pain, however, so far have had only limited success in terms of pain relief. This coupled with erroneous diagnosis or selection of treatment and side effects and rising cost of diabetic neuropathy treatment drugs are posing a hindrance to the market for diabetic neuropathy market.

Peripheral Neuropathy to Retain its Dominant Share by Clocking Maximum Growth

Peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy are the prominent disorders in the global diabetic neuropathy market. Peripheral neuropathy, of them, accounts for almost half the share in the market at present. In the near future it is predicted to grow its share marginally by surpassing all other segments in terms of growth rate. The report by TMR predicts the segment to clock a 5.7% CAGR from 2017 to 2025 because of the high prevalence of diabetic neuropathy.

Proximal neuropathy follows peripheral neuropathy when it comes to market share in the global diabetic neuropathy market. This is because proximal diabetic neuropathy is the most commonly found disorder in type 2 diabetes. The segment was worth US$885.6 mn in 2016 and will likely rise to US$1.405 mn by 2025 by expanding at a CAGR of 5.4% from 2017 to 2025.

Major Players Target North America Market Having Large Patient Pool

Key regional segments in the global diabetic neuropathy market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among them, North America accounted for a market leading share of 34.9% in 2016. This is mainly on account of the large pool of patients who have been diagnosed and the expensiveness of therapy. In fact, keen companies are eyeing the market in U.S. in the region to up sales and revenues. The market in North America was worth US$1.071 bn in 2016 and rising at 5.3% CAGR between 2017 and 2025, it is slated to become worth US$1.68 bn by 2025.

Europe trails North America in the global diabetic neuropathy market in terms of size. Its market has been mostly driven by the rising occurrence of diabetic neuropathy and a growing pool of elderly, particularly in countries of Italy, Germany, France, and the U.K. In terms of growth rate, however, the market is Asia Pacific is predicted to outshine all others. Powered primarily by China, Asia Pacific will likely clock a CAGR of 6.7% on account of the growing number of healthcare awareness programs, hospitals equipped with radiology devices to treat diabetic neuropathy, and a large pool of patients.

Some of the key names operating in the market are Pfizer, Inc., Johnson & Johnson, Boehringer Ingelheim GmbH, NeuroMetrix, Inc., Astellas Pharma Inc., Eli Lilly and Company, GlaxoSmithKline plc, Lupin Limited, Depomed, Inc., Glenmark Pharmaceuticals Ltd, and Arbor Pharmaceuticals, LLC.

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Neurological Disorder Drugs Market - Europe Industry Volume and Region Analysis - 2024

The Europe neurological disorder drugs market is remarkably consolidated due to presence of small players who hold a significant share in the overall market. Transparency Market Research has observed Merck & Co., Bayer AG, Astra Zeneca, Novartis AG, and GlaxoSmithKline plc. These top five players held a whopping share of 60.5% in the overall market in 2015.  “These players are expected to focus on expanding their geographical reach and strengthening their pipeline with multiple drug class,” states the lead author of this research report.                                     

According to the research report, the Europe neurological disorder drugs market was valued at US$18.3 bn in 2015 and is expected to reach a valuation of US$32.0 bn by the end of 2024. During the forecast period of 2016 and 2024, the global market is projected to expand at CAGR of 6.4%.

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Germany Exhibits CAGR of 6.8% during Forecast Period in Overall Market

The Europe neurological disorder drug market caters to a wide range of diseases. However, analysts anticipate that the cerebrovascular disease segment will progress at a CAGR of 6.9% during the forecast period. On the basis of countries, the market is divided into Germany, France, Italy, Spain, UK, Russia, Switzerland, Netherlands, Poland, and Rest of Europe. Of these, Germany is projected to surpass all others as the country’s neurological disorder drugs is expected to rise at a CAGR of 6.8% between 2016 and 2024.

Aging Population Offers Tremendous Scope for Growth

The remarkable rise in brain-altering diseases has prompted several pharmaceutical companies to tap into the potential market of neurological disorder drugs. The market is expected to thrive due to the rise in investments in research and development of innovative drugs being designed to manage disorders such as Alzheimer’s disease, epilepsy, Parkinson’s disease, cerebrovascular disease, and multiple sclerosis among others. The spike in the geriatric pool of Europe is also a steady factor supporting the growth of the overall market. Growing number of clinical trials are also projected to provide the global market adequate boost in the coming years.

Out of the various drugs for a range of neurological disorders, the cerebrovascular diseases held a dominant share in the global market. Analysts project that this segment will continue to show tremendous progress in the coming years due to growing number patients with complains such as strokes, migraine, and headaches. Statistics show that about 80% of the people in EU5 countries deal with strokes, which is a major part of the cerebrovascular disease. The steady change in the nature of neurological disorders is also projected to play a significant part in the development of the Europe neurological disorder drugs market.

Stringent Regulations for Prescribing Sedatives Hamper Market Growth

The treatment of neurological disorders is exorbitant as it comes with several additional costs of antiepileptic, anticholinergic and hypnotic and sedative drugs. The high cost of research and development has also slowed down the drug development. Furthermore, decline in innovation has resulted in mature product portfolios, which has limited the market in several ways. All of these factors are expected to hamper the growth of the Europe neurological disorder drugs market in the coming years. In addition, the stifling regulations about prescribing sedatives are also expected to restrict market’s growth in the coming few years.

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North America Porcine Vaccine Market Analysis by Segments, Size and Forecast 2016 - 2024

The North America porcine vaccines market for features an essentially fragmented marketplace, with the presence of a large number of small and large players. The market, however, is dominated by few; the top four players, namely Merial Animal Health, Zoetis, Inc., Elanco Animal Health, and Merck Animal Health, for instance, collectively held nearly 74% of the overall market in 2015, observes a recent report by Transparency Market Research. 

Transparency Market Research estimates that the North America Porcine Vaccine market will exhibit a 5.3% CAGR from 2016 to 2024 and rise from a valuation of US$540.9 mn in 2015 to US$926.2 mn by 2024. 

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Factors such as diverse product portfolios, extensive geographical presence, and perceptive acquisitions, as well as intensive research and development and the timely introduction of new vaccines have kept these players ahead of the intense competition. Instances are: The launch of two new swine vaccines by Boehringer Ingelheim Animal Health in 2015: Ingelvac and ReproCyc. The vaccines have been launched to fight against the porcine reproductive and respiratory syndrome (PRRS) virus. Zoetis’ November 2016 launch of Fostera PCV Metastim, a monovalent killed vaccine that protects against porcine circovirus associated diseases (PCVAD). 

In terms of disease indication, the diarrhea vaccines segment dominates the North America porcine vaccine market and is expected to account for nearly 55% of the market by 2016. The segment is expected to exhibit a healthy 7.3% CAGR over the period between 2016 and 2024 and gain a much larger, nearly 60% of the overall market, by 2024. In terms of geography, the North America porcine vaccines market is dominated by the U.S., which accounted for over 63% of the overall market in 2015 and is expected to remain the dominant market over the forecast period as well. 

Rising Consumption of Meat and Gelatin to Remain Key to Market Growth

The market for porcine vaccines in North America is chiefly driven due to factors such as the rising prevalence of swine diseases and the continuously increasing demand for meat and gelatin in the global market. Owing to globalization and rapid climate changes, the rate of outbreak of various animal diseases, some of which are also transmissible to humans, has picked up pace. Swine being a highly popular source of meat, consumed in increasingly high volumes worldwide, the impact of zoonotic diseases emanating from this class of livestock can be highly devastating for livestock as well as human lives. 

North America is the third largest consumer of pork globally. As a result, concerns regarding the spread of zoonotic diseases from swine and related products are well-founded and are rising. These concerns will be key to the increased focus on the health and wellness of swines from livestock farmers and will drive the overall North America porcine vaccine market. 

High and Rising Cost of Storing Vaccines to Obstruct Growth

Appropriate storage and handling of vaccines play a key role in ensuring high success rate of a vaccine against any vaccine-preventable disease. The need to strictly adhere to proper storage and handling procedures, lest incur losses worth thousands of dollars in revaccination and wasted vaccine, requires maintaining proper cold chains. 

Such cold chains are required to be maintained across all nodes of the supply chain, starting from the manufacturers to the healthcare providers. The high costs of maintaining these storage and handling conditions, which continue to rise with every passing day, are one of the key challenges faced by the North America porcine vaccine market and are expected to restrain the market’s growth to a certain extent over the forecast period. 

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Worldwide Radiofrequency Ablation Devices for Pain Management Market at a CAGR 13.0% from 2024

The radiofrequency ablation devices for pain management market features a markedly high level of consolidation, with the top three vendors,  St. Jude Medical, Inc., Halyard Health, Inc., and Boston Scientific Corporation, accounting for a share of over 88% in 2015, observes Transparency Market Research. “These companies have strengthened their hold on the market owing to diversified product portfolios, extensive geographical presence, and strategic acquisitions over the past few years,” states a TMR analyst. Increased focus on emerging economies and increase in product launches are some of the most popular strategies adopted by top players.

Transparency Market Research states that the global radiofrequency ablation devices for pain management market, which valued at US$372.7 mn in 2015, is expected to rise to US$1,114.5 mn in 2024. This translates to a potential 13.0% CAGR over the period between 2016 and 2024.

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In terms of product varieties, the segment of disposable RF products dominated, accounting for a 40% of the overall market in 2015. The segment of RF generators is expected to exhibit expansion at the most promising pace over the forecast period. From a geographic perspective, the market in North America dominated in 2015, accounting for over 40% of the global market in 2015. However, the global market is expected to witness most lucrative growth opportunities in emerging economies across regions such as Asia Pacific and Latin America over the forecast period.

Rising Prevalence of Chronic Pain to Have Sizeable Positive Impact on Market Growth

The rising prevalence of chronic pain conditions and the rising geriatric population of the world are among the key factors leading to the rising global demand for pain management therapies such as the ones that use radiofrequency ablation devices. The global market for these devices for pain management is also highly influenced by the rising demand for minimally invasive procedures across the globe.

Benefits such as lesser post-surgery complications, low chances of side effects, and shorter span of recovery work in favor of minimally invasive surgeries and related devices. Radiofrequency ablation devices for pain management are also gaining increased focus owing to the higher known side effects and lower efficiency of alternate pain relief procedures and therapeutics options such as acupressure, acupuncture, and opioids. The easy availability, cost-effectiveness, and easy access to highly effective radiofrequency ablation devices for pain management have also propelled the market for these devices of late.

Regulatory Hurdles Delaying Approval of New Devices to Hamper Market Growth

The need to comply with stringent laws and regulations set by regulatory authorities that are closely associated with product approvals, clinical trials, design, development, and commercialization hamper the overall development of the market to a sizable extent. Ablation devices come under class III medical device category in Europe and the U.S. Owing to this, the efficacy and safety of devices such as catheters and generators are paramount to gain approval. Strict regulations do not only delay approval, launch, and marketing of these products but also lead to increased prices.

Decisions of regulatory authorities and cost containment measures undertaken by government authorities also have a negative impact on the reimbursement scenario and restrain the market for radiofrequency ablation devices for pain management. Along with these factors, the low costs of several pain management therapeutic options such as anticonvulsants, antidepressants, and NSAIDs also significantly impact and restrain the overall development of the global radiofrequency ablation devices for pain management market.

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Worldwide Outlook for Homeopathy Product Market By Key Trends and Analysis 2024

The global market for homeopathy products features the presence of a large number of small and medium enterprises, with the top five companies cumulatively accounting for merely over 27% of the overall market in 2015, observes Transparency Market Research (TMR) in a recent report. Despite this, the company Boiron Group held over 17.3% of the market in the said year, a share large enough to have a key influence on the market’s direction. Strong presence across regions such as Europe, North America, Asia Pacific, and Middle East and Africa (MEA) has allowed the company to command a prominent position in the global homeopathy products market so far.

However, other notable vendors such as Biologische Heilmittel Heel GmbH, A Nelson & Co Ltd, GMP Laboratories of America, Inc., Standard Homeopathic Company (Hyland's, Inc.), Washington Homeopathic Products, Inc., and Homeocan inc., struggle to strengthen their hold on the market amid harsh competition. Strategies such as increased focus on robust marketing and promotion activities, proper usage of the highly influential e-commerce marketplace, and expansion across promising regional markets such as Asia Pacific and Middle East and Africa (MEA) could help companies gain more traction in the global market.

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Middle East and Africa to Provide Promising Growth Opportunities

TMR estimates that the global homeopathy product market, which valued at US$3,867.7 mn in 2015, is expected to reach US$17,486.2 mn by the end of 2024, exhibiting a CAGR of 18.2% over the period between 2016 and 2024. Of the key product varieties in the market, the segment of dilutions is expected to achieve the most promising share in the market’s valuation by the end of forecast period, retaining its dominant position with over 35% of the market by 2024. The segment will also register a strong 17.8% CAGR over the period between 2016 and 2024.

In terms of geography, Europe will continue to account for the most significant share in the market throughout the forecast period but will lose prominence to the Middle East and Africa region in terms of growth rate. Over the period between 2016 and 2024, the Europe market for homeopathy products will exhibit an 18.2% CAGR while the MEA market will expand at a 21.1% CAGR.  

Aversion to Allopathic Medicine Expected to Increase Homeopathic Medicine Sales

One of the leading factors augmenting the growth of the global homeopathy products market is the growing concern regarding the high usage of allopathic medicine. “People are becoming increasingly aware of the cumulative side-effects that they may contract after prolonged use of allopathic medicine. This is leading consumers towards alternative treatments, including homeopathy. An independent survey had revealed that US$3 bn was spent on homeopathic medicine within North America alone, in 2007. The market has skyrocketed since then and is on the brink of becoming a mainstay in all key regions,” states a TMR analyst.

Quality Standardization Still Lacking in Homeopathic Medicine Manufacture

There is a considerable lack of quality control within the global homeopathy products market and suppliers are suffering because of it. A massive chunk of the market revenue is gathered by small and medium sized business that are scattered over the key regions, making it very difficult to hold a consolidated effort for quality assurance standards implementation. Every manufacturing industry needs to adhere to good manufacturing practices and so far, the global homeopathy products market is not playing its part to the fullest extent. This is compromising the quality of medicines and products to a great extent, creating negative consumer experiences and reducing demand.

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North America Wheelchair Accessible Vehicle Converters Market by Type & Application 2016 - 2024

According to the research report, the market for wheelchair accessible vehicle converters in North America presented an opportunity worth US$1.74 bn in 2015. Rising at a CAGR of 5.30% during the period from 2016 to 2024, the market is expected to display a substantial growth in its size with the valuation reaching US$3.47 bn by the end of 2024. Full size vehicles have emerged as the leading contributors to this market due to their high prices. Medium size vehicles, however, are expected to lead in terms of sales volume over the next few years.

The North America market for wheelchair accessible vehicle converters demonstrates a fragmented competitive landscape, states a new research study by Transparency Market Research (TMR). The top three players in this market, namely, Vantage Mobility International, BraunAbility, and Mobility Ventures LLC., held more than 65% of the overall market in 2015.

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These players are mostly relying on introducing advanced products in the market for the expansion of their businesses. A shift in their focus towards mergers and acquisitions, in a bid to strengthen their presence, can be observed in the near future, reports the research study.

Side Entry Segment to Experience Strong Rise

The research report has analyzed the North America market for wheelchair accessible vehicle converters on the basis of a number of parameters. On the basis of entry mode, the report classifies this market into side entry and rear entry. Side entry wheelchair accessible vehicles converters has been reporting a much higher demand than the rear entry ones. Researchers anticipate the trend to remain so over the forecast period, thanks to the ability of side entry wheelchair accessible vehicles to enable the patient to drive from a wheelchair or sit in the front passenger position or the driver’s position in a wheelchair. The availability of enter and exit curbside and more storage space is also projected to boost the demand for side entry wheelchair accessible vehicles in the years to come, supporting this segment.

Geographically, the market study has segmented the North America wheelchair accessible vehicle converters market into the U.S. and Canada. The U.S. dominated the overall market in 2015 with a share of nearly 95% and is predicted to continue on the top throughout the period of the forecast. The presence of a massive disabled population base, an upswing in the cases of trauma resulting in disability, and the increasing uptake of wheelchair accessible vehicles, boosted by the government funding and the rising number of awareness initiatives by vehicle converter manufacturers, are also expected to propel the U.S. market for wheelchair accessible vehicle converters in the near future.

Increasing Number of Patients Suffering from Disability of Mobility to Fuel Demand

“The increasing number of patients with disability has influenced the North America market for wheelchair accessible vehicle converters to a great extent,” states the author of this report. In 2015, the number of people using wheelchairs in the U.S. was nearly 3.3 million, which is likely to rise tremendously in the near future on account of the increasing prevalence of disability of mobility among people due to the escalating cases of trauma, accidental injuries, sports injuries, and the surge in the geriatric population. This, as a result, is likely to fuel the demand for wheelchair accessible vehicle converters further over the forecast period.

The rising demand for user-friendly accessible vehicles is also expected to boost this market in the near future. However, the high price of these vehicle may restrict the growth of this market over the next few years, states the research report.

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Worldwide Telemedicine Technologies and Services Market By Analysis of Major Industry Segments 2015 - 2023

Telemedicine is the union of health care and telecommunication/information technology aimed at providing assistance to individuals in remote areas who do not have access to health care centers in times of need. Critical care and emergency situations are the primary areas for which telemedicine evolved in practice. The health care industry has always been one of the most lucrative, yet steadily growing, industries across the globe. Requirement of health care is termed as critical and crucial to the sustenance of life, hence considered an important industry. Growth of the telemedicine market is primarily attributed to the rise in quality health care services and products adopted by patients worldwide. The telemedicine market has been largely driven by increasing reimbursements received by health care insurance providers that trickle down to the patient population. 

According to a new market research report published by Transparency Market Research “Telemedicine Technologies and Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023”, the global telemedicine technologies and services market was valued at US$ 21.1 Bn in 2014 and is estimated to reach US$ 86.7 Bn in 2023, expanding at a CAGR of 17.2% from 2015 to 2023.

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The rising geriatric population along with increasing cases of physical disability promotes usage of telemedicine among a significant portion of the global population. However, dearth of medical practitioners dedicated to telemedicine service is a major issue globally. Moreover, growing concern among patients about the inadequacy of virtual consultation presents a challenge to the growth of the telemedicine market. The global telemedicine technologies and services market was valued at US$ 21,124.2 Mn in 2014 and is projected to reach US$ 86,754.8 Mn by 2023 at a CAGR of 17.2% from 2015 to 2023. 

Based on component, the telemedicine technologies and services market has been segmented into hardware, software, and services. The hardware segment has been categorized into videoconferencing unit, imaging unit, vital signs unit, ECG, and others. The videoconferencing unit sub-segment accounted for the largest share of the hardware segment in 2014. The segment will continue to dominate the market until 2023 due to increase in preference for videoconferencing units for telemedicine solutions. The imaging unit segment is expected to expand at the highest CAGR from 2015 to 2023 owing to high demand for imaging services, mostly preferred for radiology and digital pathology services, and rapid technological advancements in the imaging segment. However, concerns over confidentiality of patient’s medical information is likely to hamper the growth of the telemedicine technologies and services market during the forecast period. 

Based on software, the telemedicine technologies and services market has been segmented into integrated and standalone. The integrated software segment dominated the market in 2014 due to high adoption rate and technological innovations. Telemedicine services (interactive, store and transfer, and chronic care management) is the most promising segment of the telemedicine market owing to worldwide popularity and ability to provide high definition and quality medical services in remote areas. People in developing nations cannot afford technologically advanced products due to financial crisis and low disposable incomes. Hence, they opt for cost-effective and consistent telemedicine services. Therefore, the services segment is likely to gain momentum in developing countries such as India, China, Brazil, and South Africa. 

Based on end-user, the global telemedicine technologies and services market has been segmented into telehospital/teleclinic and telehome. The telehospital segment dominated the market primarily due to high adoption rate of technologically advanced and cost-effective innovative telemedicine services and products and rising preference of patients toward telemedicine services for telehospital. 

The global telemedicine technologies and services market is characterized by the presence of major companies such as Aerotel Medical Systems Ltd., AMD Global Telemedicine, Inc., General Electric Company, Honeywell International, Inc., and LifeWatch AG.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.