Healthcare Industry Insights: 2016

Sunday 18 December 2016

Doxorubicin Market Growth, Industry Trends and Forecasts, 2016 to 2024 - Hexa Research

Doxorubicin is an anti-cancer chemotherapy drug. It is an intravenous injection through a central or peripheral venous line. No pill form of this drug is available in the market. Doxorubicin market is expected to witness a significant growth in the developed regions due to the multiple incidences of cancer occurrence in these regions. According to World Health Organization (WHO), in 2012, 14.1 million new cancer cases were detected worldwide.

Doxorubicin is an anthracycline chemotherapy drug that slows down the growth of cancer cells which is one of the primary reasons of its demand globally.. Four most common cancers worldwide are lung cancer, prostate cancer, female breast and bowel. Doxorubicin drug provides chemotherapy treatment for all four cancers which is anticipated to drive the industry in next eight years. Early diagnosis led to the longer duration of treatment which in turn increases the demand for doxorubicin drug. Increasing effectiveness of drug therapies are contributing to the higher spending on drugs for cancer care. Moreover, various government initiatives for controlling cancer and increasing its awareness through governmental organizations such as Cancer Prevention And Control Research Network (CPCRN )and National Cancer Institute is creating to have a positive impact on the anti-cancer drug. Increased alcohol consumption, usage of tobacco coupled with lack of physical activity and unhealthy diet are considered to be main risk factors of cancer worldwide. According to WHO estimates, the mortality rate worldwide was 8.2 billion in 2012 and is expected to rise by about 70% in the near future. Due to aforementioned reasons, anti-cancer drug market revenues are anticipated to increase in the near future.

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Media is also playing an important role in spreading awareness about various diseases and related drugs. Consumer awareness of these drugs is expected to have a positive impact on the doxorubicin market. Support from non-profit organizations and regional government in UK on approval of drugs is anticipated to drive the market during the forecast period.

However, Doxorubicin therapy can cause a risk of developing leukemia and tumor lysis syndrome which can further lead to kidney failure is expected to act as a roadblock for the growth of doxorubicin market. This drug also has adverse effects and can cause skin rashes, itchy sensation, can lead patient feel short of breath, swelling of face, feeling dizzy and stomach ache. Moreover, it can cause extensive tissue damage and can develop dizziness among consumer. High treatment cost poses a challenge to this market. Also, pharmaceutical industries significantly rely on the R&D initiatives. Pharmaceutical agencies are focusing on new medicines in order to cater to the customer needs which may poses as a threat to this market in the long run.

The market can be segmented on the basis of cancer type. Doxorubicin treats number of cancers such as acute lymphoblastic leukemia, acute myeloblastic leukemia, bone sarcoma, breast cancer, endometrial cancer, gastric cancer, head and neck cancer, liver cancer, kidney cancer, ovarion cancer, small cell lung cancer, thyroid cancer and transitional cell bladder cancer. Drug used for treating thyroid cancer dominated the market in the recent past on account of growing incidences of thyroid cancer especially in UK.

The U.S. dominated the market in the near past on account approval of doxorubicin products by FDA and increasing number of cancer incidences. Europe is one of the major markets owing to increasing number of deaths due to cancer. Emerging nations such as India and China are anticipated to show a substantial growth rate based on the growing population, cancer incidences and tobacco consumption. Africa is expected to observe a lower growth rate owing to lack of consumer awareness and healthcare infrastructure, and expensive medication.

Key players in this market include Pfizer Inc., Dabur Pharmaceuticals Ltd., Cadila Pharmaceuticals Ltd., German Remedies Ltd., Biological E Ltd., Elder Pharmaceuticals Pvt. Ltd., Cipla Ltd., Sun Pharmaceuticals Industries Ltd., Natco Pharma Ltd., Biochem Pharmaceutical Industries Ltd., Pharmacia India Ltd., VHB Life Science Inc., Chandra Bhagat Pharma Pvt. Ltd., GLS Pharma Ltd., and Intas Laboratories Pvt. Ltd. Mergers and acquisitions in this industry is helping acquirer in building technical expertise and hold a library of patents.

In March 2015, Sun Pharmaceuticals Industries Ltd. acquired Ranbaxy Laboratories Ltd. to increase its presence in the global and domestic markets by filling therapeutic gaps in the U.S.

In February 2013, Sun Pharma’s Lipodox (doxorubicin hydrochloride liposome injection) was approved by FDA for the treatment of ovarian cancer in the patients.

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Tuesday 13 December 2016

Craniomaxillofacial Devices Market Size, Share, Growth, Industry Analysis and Forecast to 2024 | Hexa Research

The craniomaxillofacial (CMF) devices market is estimated to grow at a CAGR over 6% during the forecast period (2016-2024). Demand for minimal invasive procedures which can heal rapidly is the primary driving factor of the market. Awareness of these surgeries by ASCFS and ISCFS will facilitate in market growth. Bigger healthcare budget, use of 3D implants in reconstructive surgery, and growing geriatric populace are other aspects favoring the market.

The global market is segmented according to products, materials, applications, and regions. Products include cranial flap fixation, MF (maxillofacial) plate and screw-fixation, bone graft substitutes, and CMF distraction. Plate and screw fixation earned over 70% market revenue shares in 2014 due to their varied use in surgeries.

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Materials used are metal, bioabsorable, and alloys. Titanium alloys are used to produce cranial plates due to their low weight & non-corrosive property. Polymers such as PMMA (poly methyl methacrylate) and Medpor are used due to their biocompatible nature. Biomaterials such as PDLLA and PPEK are used in bioabsorbable devices.

Neurosurgery & ENT, orthognathic & dental, plastic surgery, and others constitute as market applications. Increasing cases of spinal disorders will bring in revenues from the neurosurgery & ENT segment. Plastic surgery will see growth in the years ahead from developed countries of Canada and U.S.

Regions covered under the market are Latin America, North America, Europe, Asia Pacific, and Middle East & Africa. North America accounted for over 58% market revenue in 2014. Other factors supporting market growth in the region are technological developments, healthcare infrastructure, and high patient awareness.

Europe is in need of technology which can cater to plate and screw fixation, thoracic fixation, CMF bone graft substitutes, and temperomandibular joint (TMJ) replacement. This is expected to net revenues over USD 227 million in 2013. Asia Pacific will exhibit growth due to economic development and improving healthcare infrastructure.

Well-known players of the craniomaxillofacial devices market are Aesculap; Johnson & Johnson (DePuy Synthes); Boston Medical Products Inc.; and Medartis AG. Research and development of products are one of the strategies followed by players. For instance, Aesculap introduced Pro space, a osteoconductive interbody fusion method in 2015.

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Friday 9 December 2016

3D Scanner Market Size, Analysis, Growth, Trends and Forecasts, 2016 To 2024 - Hexa Research

The global 3D scanner market is expected to reach USD 7.4 billion by 2024. It should grow at a CAGR over 11.5 % during 2016 to 2024 (forecast period). Wider adoption of these devices in applications; such as rapid prototyping, quality control, reverse engineering, etc. will augment growth of this industry. Software & hardware providers lay stress on workflow enhancement & usage convenience, thus boding well for the market and propelling its sales.

The workflow is generally complicated for those new to 3D scanning. This coupled with costly scanners hampers the growth of 3D scanners. However, the demand for accurate, quick, & effective results primarily would drive the 3D scanner market. In addition to this, scanner properties; like affordability can also propel the market. ‘Handheld 3D scanner’ & technological expansion are projected to drive the industry demand in the near future. The market is categorized into products, ranges, applications, and regions.

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Products include structured light, laser, and optical. Laser scanners led the market in 2013. However, optical and structured light are anticipated to grow rapidly. Optical scanners should grow at a healthy CAGR (over 11 %) during the forecast period. Ranges consist of short, medium, and long. Short range scanners dominated in 2013. They will maintain their dominance till 2024. Medium is likely to gain considerable shares, at a CAGR of 11 % till 2024. Long range is said to be growing slowly due to its high costs.

Applications in the 3D scanner market are aerospace & defense, industrial manufacturing, healthcare, entertainment & media, and engineering & architecture. Industrial manufacturing reigned in 2014, accounting for 30 % shares. 3D scanning can be a critical component of quality & inspection control across construction industry.

Entertainment & media should witness the highest growth. It is estimated to reach USD 600 million by 2024, at a healthy CAGR of 13 %. Rising significance of market devices in architecture may be attributed to the advent of portable 3D scanners. 3D scanners help in archiving and preserving architectural pieces from museums. Engineering & architecture will hold over 12.5 % shares by 2024.

Geographically, the worldwide 3D scanner market is fragmented on the basis of Europe, North America, Latin America, Asia-Pacific, and RoW. North America reigned in 2013 and can lead over the forecast period. Latin America is said to be the most lucrative region. It is predicted to exceed USD 750 million by 2024, at a CAGR of 13 % in the near future.

The same would be attributed to rising adoption of 3D scanners across various application and end-user industries. Asia-Pacific held over 23% shares in 2014. This region is expected to grow rapidly, surpassing incomes worth USD 1.5 billion by 2024. Major companies in the global market comprise Basis Software Inc. (Surphaser); 3D Digital Corp.; Topcon Corp.; and FARO Technologies.

The industry is marked by strong rivalry and often indulges in mergers & acquisitions. Firms cater to different sectors; like manufacturing, aerospace, education & research, and consumer goods. Introduction of ‘quality’ & ‘affordable’ 3D scanners provide future market prospects.

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Wednesday 7 December 2016

Electrical Hospital Beds Market - Industry Analysis, Size, Growth and Forecasts to 2024 | Hexa Research

Exceptional access to a universe of data has offered ascend to the engaged, yet doubtful, customer. So is the situation with medicinal services, where the patient has been rendered more educated and reliable on account of the exceptional infiltration of the Internet. The perceiving persistent now requests more moderate, advanced, straightforward, and customized social insurance administrations, making the requirement for new models for consideration. The healing center beds industry taking into account treatment has made gigantic development in the late years.

The developing acknowledgment of intense consideration beds, basic consideration quaint little inns term beds have expanded the interest for doctor's facility beds. The business sector is developing with high development rate, because of a few variables, for example, developing maturing population, rising social insurance use, expanding pervasiveness of chronic diseases and mechanical progressions in doctor's facility beds. These beds are all around furnished with specific elements that permit patients to change the tallness, and in addition the head and foot segments of the bed. Besides, these components permit better situating of patients, enhanced blood course of patients because of development, simplicity of exchange, and security if there should arise an occurrence of patients, who are at a danger of dropping out of the bed because of the nearness of bed rails.

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Expanding commonness of chronic diseases, development of maturing population and rising medicinal services use drives the business sector of electric beds globally. Increment in chronic diseases prompts an expansion in the quantity of hospitalization cases, fuelling the interest for clinic beds. Also, rising human services consumption overall prompts a change in the social insurance base bringing about development and remodel of healing centers with establishment of new doctor's facility beds. Hence, this drives the worldwide doctor's facility beds market

The innovative progressions in hospital facility beds are further likewise heightening the business sector universally. The electric hospital beds with force sleeping cushions for continuous weight redistribution with fitted electric engine enhance blood flow and aides keeping the development of bed injuries. These propelled highlights offered by these beds make them famous and prompts the development of the business sector around the world.

The maturing population will drive interest for doctor's facility beds, as more individuals require industry items for their medical consideration, including at-home restorative consideration. Moreover, producers will present new items with the most recent advances, for example, coordinated scales and key signs screens, to empower request. In this manner, the Hospital Bed Manufacturing industry's income will keep on growing, in accordance with predictable interest, new advancements and a maturing population.

The normal value that medicinal services offices paid for electric beds was 45% higher in February contrasted and that month a year ago. The expansion was powered by enthusiasm for beds intended for concentrated consideration units. The normal cost paid for electric beds was $15,627, as per the most current information in the Technology Price Index. Higher-cost ICU beds represented 40% of all enthusiasm for electric beds among ECRI part associations, up from 20% amid the same time the prior year. ICU beds tend to cost amongst $25,000 and $30,000 each-fundamentally more than restorative/surgical beds, which regularly cost $5,000 to $10,000 a bed

The key limitations connected with clinic beds business sector is their high cost. High cost of beds declines the reasonableness of individuals in low salary areas. Different hospitals offer several beds, for example, electrical beds, birthing beds, bariatric beds, and basic consideration are to a great degree costly, which makes them excessively expensive for doctor's facilities with restricted spending plan allotted for social insurance. In emerging nations, for example, India, China, and Brazil, manual and semi-electrical beds are favored over electric beds owing to their low cost. High cost of doctor's facility bed is expected to hamper the development of the Electrical Hospital Beds Market

Major players in the Electrical Hospital Beds Market include Linet Invacare Corporation, Hill Rom, Stryker, Getinge AB, Paramount Bed Co. Ltd, Gendron Inc., Span America Medical Systems Inc., and Medline Industries Inc among others.

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Tuesday 29 November 2016

Airway and Anesthesia Devices Market Growth, Size, Analysis, Trends and Forecasts, 2016 to 2024 | Hexa Research

The global airway and anesthesia devices market are expected to witness substantial growth over the forecast period on account of the increasing air pollution and respiratory problems among people. The airway devices market is expected to grow considerably as the used in surgeries to pump oxygen and anesthetic gases in the patient’s body to keep him sedated and at the same time maintaining the rate of breathing. The anesthesia devices market is expected to grow substantially owing to increasing rate of surgeries with increasing rate of population. A huge geriatric population base is prone to health related problems such as cardiac disorders and respiratory diseases which act a major driver for the growth of the airway and anesthesia devices market.

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According to WHO around 7% of people suffer from respiratory diseases and these diseases grow as the age increases. Growing geriatric population, rising pollution levels in highly developed countries, coupled with high demand for portable & better healthcare facilities is a vital determinant of industry growth. The frequency of respiratory illness that occurs in the form of COPD (Chronic Obstructive Pulmonary Diseases) and OSA (Obstructive Sleep Apnea) are expected to foster the market growth. Supportive government initiatives for healthcare are expected to drive the airway and anesthesia devices market. Easy availability of spare parts can help in keeping airway and anesthesia devices smooth & functional, which in turn can also be utilized for maintaining backups. Furthermore, growth in the market is anticipated owing to the technological development which provides improved processing. The focus is on technological development and innovation to manufacturing patient-friendly devices and ease of operation.

The airway devices market is bifurcated on the basis of functioning into supraglottic airway devices, laryngeal mask airway, prose laryngeal mask airway, ports soft seal laryngeal mask, fast track intubating laryngeal mask airway, esophageal-tracheal combi tube, easy tune, laryngeal tube suction, peri laryngeal airway (cobra), laryngeal tube, slip streamlined pharynx airway liner and elisha. The anesthesia market is classified into two main products into anesthesia machines and anesthesia disposables. The generic anesthesia products include inhalation agents, induction agents, local anesthetics, neuromuscular blockers, analgesia; advanced anesthesia monitors which are further bifurcated into the depth of anesthesia, anesthesia gas monitors and standalone capnography monitors.

In North American market the airway and anesthesia market is expected to grow substantially owing to the increasing geriatric population and high standard of living. The increasing respiratory diseases are another factor leading to the market growth of the region. The market of the Latin American market is anticipated to grow over the forecast period owing to the government initiatives towards improved healthcare facilities of emerging economies such as Brazil and Chile. This is likely to drive the demand of the market. Europe is expected to grow substantially on account of increasing awareness among people and high per capita income in most of the parts of Europe.

Asia Pacific market is expected to grow over the period owing to the increasing population and rising consumer disposable incomes. In countries such as India and Japan governments have shown their interest and have taken initiatives to provide a better healthcare and medical facilities for the people. The market of the Middle East & Africa is expected to grow eventually as the standard of living in most of the countries is comparatively lower than that of the other developing economies. The demand for airway and anesthesia devices is anticipated to witness sluggish growth owing to the above reason. However, UAE and some other developed parts of the market are expected to witness considerable growth on account of high disposable income of consumers and growing respiratory diseases.

The major contributors to the market are GE Healthcare and Covidien, Draegerwerk AG, Fischer & Paykel, ResMed, Getinge Group, Teleflex Inc., Philips Healthcare, CareFusion Corp., Intersurgical Ltd., Smiths Medical Inc., Meditronic plc.

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Monday 28 November 2016

Ultrasound Device Market Research Report - Global Industry Analysis, Size, Growth and Forecast to 2024 - Hexa Research

The global ultrasound device market was worth USD 6.9 billion in 2015. It is projected to grow at a CAGR of 7% from 2016 to 2024 (forecast period). Chief market drivers are increasing incidences of chronic and hypertension related disorders.

Ultrasound technology is used to treat prostate cancer and kidney stones. It is the most preferred mode of fetal screening across the globe. Trials are underway to find novel applications like detecting breast fibroadenoma and uterine fibroids. This coupled with escalating public-private investments would create opportunities for ultrasound devices.

The market is segmented as per products, portability, and regions. Products are split into diagnostic ultrasound devices and therapeutic ultrasound devices. Diagnostic ultrasound devices are further segmented into 2D devices and 3D/4D devices. They accounted for the largest market share in 2015 due to a variety of applications in radiology, obstetrics, and oncology. Therapeutic ultrasound devices include HIFU (High Intensity Focused Ultrasound) and ESWL Extracorporeal Shockwave Lithotripsy).

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Based on portability, the market is divided into handheld devices and cart/trolley based devices. Handheld devices are expected to grow as a result of increasing preference for home healthcare and remote patient monitoring. They are likely to grow at a CAGR of 6.5% over the forecast period.

Regional segmentation encompasses Europe, North America, Asia Pacific, MEA (Middle East & Africa) and Latin America. North America was the leading region (26% revenue share) in 2014. Key regional drivers include a well-established healthcare system, and rising preference for remote healthcare. Advanced technology in this region is also creating demand for miniature user-friendly devices.

Asia Pacific should also grow lucratively during the forecast period. Presence of large industry players in Japan and China contributes to the same. Moreover, this region is home to highly populous countries like China and India. These and other developing nations are creating a large customer of pool for various ailments requiring ultrasound screening. These factors will result in the Asia Pacific market growing at a CAGR of 9.7% in the eight years ahead.

Prominent participants in the global ultrasound devices market include Hitachi Medical Corporation, Siemens Healthcare GmbH, Samsung Medison, and Toshiba Medical Systems Corporation.

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Tuesday 15 November 2016

pH Meters Market Share, Size, Analysis, Growth, Trends and Forecasts, 2016 to 2024 | Hexa Research

Devices used to measure acidity levels in water & wastewater treatment, pharmaceuticals, chemicals & petrochemicals, and other applications are known as pH meters. They are mostly used in food & beverages, pharmaceuticals, mining, water treatment plants, and other industries.

The worldwide pH meters market is projected to grow at a 3% CAGR over the forecast period (2016-2024). Demand for these devices in light of health concerns and awareness of water purity is expected to surge market demand in the coming years. Measuring pH level of solutions with low ion concentration can pose a challenge towards market growth.

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The market is segmented according to products, end-users, and regions. Products include continuous, portable, and bench-top pH meters. Portable devices can measure pH for long hours with ease. Its small size and mobility will contribute to its demand in the coming years. Bench-top meters captured over 55% market shares due to its wide application in research institutes and laboratories.

Major end-users are food science, pharmaceuticals & biotechnology, environmental research & pollution center, and others. Food science generated over 40% revenue for the pH meters market in 2014. Their application includes wine, dairy, agriculture, fruit juice & dairy processing, and others. Technological developments such as incorporation of smart sensors and multi-parameter analysis will propel market demand among industries in the years ahead.

Regions covered under the market are Latin America, Middle East & Africa (MEA), North America, Europe, and Asia Pacific. North America is the biggest region owing to the presence of major players headquartered in the region. Strict guidelines pertaining water use by the U.S. EPA (Environmental Protection Agency) will facilitate regional market growth. Food & drug safety concerns and awareness & technology to curb waste treatment and other pollutants will create lucrative opportunities in Asia Pacific.

Europe will generate high revenue for the market due to possessing sophisticated healthcare infrastructure, high R&D activities, and high capita per income of consumers. Prominent players operating in the global pH meters market are Hanna Instruments, Thermo Fisher Scientific, Metrohom USA, and Agilent Technologies. Hanna Instruments launched a pH meter which incorporates elements of portable and bench-top meters.

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Wednesday 9 November 2016

Glycerol Market - Global Market Size, Share, Analysis and Market Forecasts, 2016 to 2024

The global glycerol market is projected to surpass USD 3 billion by 2024. Glycerol is used extensively in a variety of consumer products on account of to its nutrition values and non-toxicity. The applications of glycerol range from various food preservatives & sweeteners to anti-freeze chemicals & explosives. Moreover, it is a potential chemical platform for the renewable production of various chemicals. It provides a nature-friendly and economical alternative.

A rapid growth in various healthcare technologies is anticipated to boost the market growth over the forecast period (from 2016 to 2024). However, the uncertain supply of feedstock is likely to hinder the growth of the global market. Moreover, low margins for refining methods may also further hamper the overall market growth. The global market is divided into applications, sources, and regions.

The pharmaceuticals and personal care were the dominating application sectors of the glycerol market in 2015. However, the food & beverages sector is estimated to become the fastest-growing application sector with a healthy CAGR of over 8.4 % during the forecast period. This can be attributed to the improving lifestyle in various developing economies that further results into the increased consumption and demands for packed and processed foods. Polyether polyols sector is also witnessing a rapid growth due to rising usage of low-cal sweeteners in various food products. Other applications include perfume production, explosive production, tobacco humectants, etc.

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The biodiesel sector was the biggest source for the production of glycerol in 2015. It occupied over 63 % of the overall market share. However, the fatty alcohols sector is estimated to be the leading source for the glycerol production with a CAGR of over 9 % from 2016 to 2024.

Asia-Pacific was the largest regional glycerol market in 2015 that held over 40 % of the global market volume. The region is further estimated to be the leading market for glycerol growing at a CAGR of over 8 % during the estimated years. The Europe region was also dominating glycerol consumer on account of high demands in the pharmaceuticals, food & beverages, and personal care sectors. The product demands from the Middle East & Africa are also likely to increase.

Some of the major market players include Cognis Corp.; Solvay SA; Procter & Gamble Chemicals; Kuala Lumpur Kepong Berhad; Wilmar International; Godrej Industries Ltd.; and Sofiproteol Group.

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About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:
Ryan Shaw
Hexa Research
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Tuesday 8 November 2016

eClinical Solutions Market Growth and Industry Analysis, 2016 to 2024

The global eClinical solutions market is anticipated to exceed USD 13 billion by 2024. The major growth driving factors include a rise in the R&D activities by various pharma and biopharma companies, growing application of software solutions in medical trials, rising government funding for promoting clinical research programs, increasing consumer base, and so on. In addition to this, rising outsourcing of medical trials to Contract Research Organization (CROs), growing medical research programs in various Asian countries along with the development of low-cost modules are also projected to boost the market growth.

However, high implementation prices, the lack of skilled labor & awareness about clinical data sciences software are likely to hinder the growth of the market in the near future. The global market is divided into products and regions.

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The products sector includes Electronic Data Capture (EDC), Electronic Clinical Outcome Assessment (ECOA), Clinical Data Management Systems (CDMS), Randomization and Trial Supply Management (RTSM), Safety Solutions, Clinical Data Integration Platforms, Clinical Trial Management Systems (CTMS), and Electronic Trial Master File (e-TMF). The ECOA sector is projected to experience the maximum growth rate over the forecast period (from 2016 to 2024), while the CDMS and EDC sectors are anticipated to dominate the market through the year 2016.

Regionally, the global eClinical solutions market is segregated as Latin America, North America, Asia-Pacific, Europe, and the Middle East & Africa. As of 2016, the North American market is expected to dominate the global market occupying the largest industry share. The major factor for this growth is the growing number of ongoing medical trials in the region. Some other factors include the rising government support for clinical trials, extensive Research & Development activities resulting in the production and launch of innovative products, and the increasing occurrences of lifestyle diseases. The APAC region is also likely to witness a rapid growth over the next few years. The rising participation of developing countries in the clinical trials is said to augment the market growth during the estimated years.

The key companies operating in the global eClinical solutions market are Parexel International Corp.; ERT inc.; Oracle Corp.; BioClinica; DataTrak International Inc.; Medidata Solution Inc.; Merge Health Inc.; CRF Health Inc.; OmniComm Systems Inc.; and eClinical Solutions LLC.

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Tuesday 1 November 2016

Portable X-Ray and CT Scan Devices Market Share, Size, Industry Trends and Forecasts to 2020 | Hexa Research

According to a new study by Hexa Research, the global market for portable X-ray and CT scan devices will grow at a CAGR of 7.5% from 2013 to 2020. The demand will be driven by growing cases of accidents and health conditions necessitating orthopedic, cardiovascular or brain-related investigation. New product developments in portable medical devices market are being facilitated by technological advancements like wireless devices and capital deployment in healthcare. Additionally, growing preference for diagnostic techniques that are minimally invasive and can be brought to the patients’ doorstep is proving beneficial to growth. The elderly are prone to falls and suffer from orthopedic issues. Growing worldwide aging population is leading to a rise in implant procedures. This makes portable screening devices important.

Hexa Research observes that North America generated the most regional demand for portable X-ray and CT scan devices. Its dominance is likely to continue owing to surge in aging populace and technological superiority. Emerging economies in Asia and Latin America will augment future demand for portable X-ray and CT scan devices. These developing markets are characterized by a growth in technologically advanced and affordable products. Asia Pacific market is anticipated to grow at a CAGR of more than 10% from 2013 to 2020.

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X-ray devices accounted for a larger market share as compared to CT scan devices. For the period from 2015 to 2020, demand for X-ray devices is likely to fall while that of CT scan devices will witness substantial growth.

Hexa Research found that on the basis of technology, medium slice scanners, with benefits like cost effectiveness and high performance, accounted for more than 59% of the CT scan market segment. In X-ray devices segment, computed radiography was the preferred technology due to its affordability and user friendliness. In the near future, digital radiography-based portable X-ray machines are foreseen to witness highest growth. They offer features like fastest image acquisition rate, high throughput rate, low radiation and high quality imaging. Key operators in the global portable X-ray and CT scan devices industry are GE Healthcare, Philips Healthcare, Hitachi Medical System, Varian Medical System, Siemens Healthcare, etc. Philips Healthcare with a market share of more than 16.5% assumed the leadership position in 2012.

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