Biopsy Devices Market Size, Share, Trends and Forecast to 2020 | Hexa Research

The worldwide Biopsy Devices Market is expected to grow at a nearly 6.5% CAGR over the forecast period (2012 to 2020). By 2020, the industry may report revenues worth almost USD 2.4 billion. High prevalence of infectious diseases and serious illnesses like cancer and kidney diseases can propel demand in the years to come. The removal of body tissues to rule out the growth of abnormal cells is known as biopsy. Biopsies are conducted quite frequently these days because of high incidence of deadly diseases.

Growing geriatric population is a prominent factor that may fuel the industry in the years to come. Different types of biopsies in cancer diagnosis are incision, skin, excision, and shave. Popularity of minimally invasive biopsy procedures can further contribute to global demand. The biopsy devices industry is gradually expanding in most emerging nations because of greater awareness, high incomes, investment in R&D, and high healthcare expenditure.

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Products and regions are two parameters based on which the global Biopsy Devices Market is categorized. According to products, the industry is divided into biopsy forceps, biopsy guidance system, needle-based biopsy guns, biopsy needles, and others. “Others” refers to biopsy punches, curettes, and brushes. Guidance systems held the highest share in 2013 owing to high prices of robotic guidance systems. Popularity of accurate & minimally invasive devices and high incidence of cancer are two key factors that drive this segment. It is influenced by technological advancements and the surging demand for user-friendly products.

Needle-based biopsy guns is a highly profitable segment because of surging demand for the same for obtaining soft tissue samples from bone marrows, kidneys, prostate glands, lungs, and breasts. Needle-based biopsy guns are further segmented into core needle, fine needle aspiration, and vacuum assisted biopsy devices. Biopsy forceps are of two types, namely hot and cold. The cold biopsy forceps segment can expand considerably in the years to come because these help prevent the onset of infectious diseases. The market for robotic guidance systems is projected to expand remarkably over the forecast period because of surging disposable incomes and substantial investments in technology.

Geographically, the global Biopsy Devices Market is classified into Europe, Asia Pacific, North America, and Rest of the World. North America held maximum shares in 2013 in terms of revenue. The region may continue dominating the overall industry throughout the forecast period because of rising prevalence of cancer and greater awareness about biopsy devices. The Asia Pacific market may grow rapidly because of a booming population and an expanding medical tourism industry. Other regional drivers are rising disposable incomes, unmet medical needs, and gradual improvements in healthcare infrastructure. Key companies operating in the worldwide industry are DTR Medical; Cardinal Health Inc.; Hologic Inc.; Devicor Medical Products Inc,; and C.R. Bard Inc.

Researchers from the University of Adelaide have developed a novel medical device that could lead to safer brain surgeries. It is a smart needle that helps spot blood vessels in the body. A miniature imaging probe placed inside a brain biopsy needle enables surgeons to see those blood vessels that are prone to risks. These needles on being inserted avoid causing fatal bleeds during the procedure.

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Medical Robotic Systems Market Research Report - Global Industry Analysis, Size and Forecast to 2020 | Hexa Research

The Global Medical Robotic Systems Market is projected to reach nearly USD 18 billion by 2020. In 2014, the industry stood at around USD 7.5 billion. Advancements in computerized surgical technologies, like telemedicine and bacteriobots for treating terminal cancers may fuel product demand over the forecast period (2012 to 2020). Heightened awareness, high population growth, improvements in healthcare infrastructure, and rising prevalence of lifestyle diseases are other industry drivers.

Widespread penetration of IT is yet another factor that has spurred the demand for medical robots in the world of healthcare. Greater preference for minimally invasive surgeries over the conventional ones may further contribute to overall demand in the years to come. Minimally invasive surgeries reduce the risks of infections & excessive bleeding, ensure shorter post-operative hospital stays, and lead to quicker healing.

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The overall Medical Robotic Systems Market is categorized on the basis of products, applications, and regions. Products comprise emergency response robotic systems, hospital & pharmacy robots, noninvasive radiosurgery robots, rehabilitation robots, and surgical robots. Surgical robots held a 3/5th share in overall revenues in 2014. Rapid adoption of these in hospitals and growing preference for minimally invasive surgeries are factors that fuel this segment. Laparoscopy robotic systems, orthopedic surgical robots, neurological surgical systems, and steerable robotic catheters are different types of surgical robots. Rehabilitation robots are of various types, namely prosthetic, assistive robots, exoskeleton robotic systems, orthotics, and therapeutic robots.

On the basis of applications, the overall industry is divided into four key areas, namely laparoscopy, neurology, special education, and orthopedics. In orthopedics, medical robots are used in surgical systems, such as iBlock, Stanmore sculptor, robodoc, ZAKO RIO, and navio PFS. The special education segment comprises surgical systems, like pathfinder, neuromate, and renaissance. Laparoscopy is further segmented into freeHand endoscope holder system, ALF-X surgical system, and da vinci robotic surgery system. With a share nearly 89%, laparoscopy was by far the largest application segment in 2014.

Geographically, the global medial robotic systems industry is classified into Asia Pacific, Europe, North America, and Rest of the World. Fueled by sophisticated medical infrastructure, high healthcare spending, and surging income levels, North America dominates the global market. Other regional drivers are growing geriatric population, high rate of market penetration, and favorable government & NGO initiatives. Asia Pacific is expected to grow at a nearly 14% CAGR till 2020. The region may be propelled by the expanding the Medical Robotic Systems Market in China & India in the forthcoming years. These emerging economies are primarily driven by rapid proliferation of hospitals, widespread awareness about medical robots, and high healthcare spending.

Prominent companies operating in the worldwide Medical Robotic Systems Market are Intuitive Surgical Inc,; MAKO Surgical Corp.; iRobot Corporation; Medrobotics Corporation; and Varian Medical Systems among various others. Recently, a group of eye surgeons successfully injected a thrombolytic drug directly into the retinal vein of a patient in order to dissolve a blood clot. Any retina-based procedure is usually very complex since retinal veins are as thin as human hair. Researchers from a Belgium based university have developed a surgical robot that can treat retinal vein occlusion. This is a condition that leads to loss of vision and in some cases, even blindness.

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Sleep Apnea Devices Market : Global Industry Growth, Trends And Forecasts to 2020: Hexa Research

The global Sleep Apnea Devices Market is projected to reach approximately USD 7 billion by 2020. The market was valued at nearly USD 2 billion in 2013. It may expand at a CAGR over 10% during the forecast period (2014 to 2020). High incidence of sleep related & lifestyle disorders drives product demand. Demand may surge considerably over the forecast period due to prevalence of lifestyle disorders triggered by sleep apnea. These lifestyle disorders are hypertension, atrial fibrillation, diabetes, obesity, and congestive heart failure among others. Growing geriatric population is also a key market driver since sleep disorders are common among the elderly. Improvements in healthcare infrastructure and awareness about type II diabetes, hypertension, and stroke could positively impact the industry over the next couple of years.   

The global Sleep Apnea Devices Market is segmented on the basis of products and regions. Based on products, the industry is bifurcated into diagnostic devices and therapeutic devices. Diagnostic devices are further segmented into actigraphy systems, PSG (polysomnography) devices, single channel screening devices (or pulse oximeters), and respiratory polygraph. Over the past couple of years, demand for PSG devices has been quite high. This attributes to the fact that for sleep tests, patients prefer their homes to the laboratories. Besides being cost effective, PSG devices rank high on convenience.

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Different types of therapeutic devices are oxygen devices, oral appliances, PAP (positive airway pressure) devices, ASV (adaptive servo ventilation) systems, airway clearance systems, and others. “Oral appliances” is a rapidly expanding segment since these are used for treating moderate sleep apnea. The treatment of obstructive sleep apnea (OSA) involves oral appliances that are generally prescribed by oral surgeons, ENT specialists, or dentists. Surging demand for PAP devices could significantly contribute to market progress. Treatment of sleep disorders and airway management are two key applications of PAP devices.

Based on geographies, the global Sleep Apnea Devices Market is categorized into Europe, Asia Pacific, North America, and Rest of the World (RoW). The overall industry is led by North America. Factors that fuel this region are rising income levels, widespread awareness about sleep apnea, high insurance coverage, the problem of obesity, and a well developed healthcare infrastructure. Asia Pacific may expand favorably at a nearly 11% CAGR during the forecast period. The region is propelled by favorable government initiatives, economic development, and a rapidly growing population.
Prominent companies operating in the worldwide Sleep Apnea Devices Market are Natus Medical, ResMed, Weinmann Medical Devices, DeVilbiss Healthcare, and CareFusion among others. Mandibular Advancement Device is an oral appliance developed by Refresh Snoring and Sleep Apnea Center, U.S. This device finds the forward position of the patient’s jaw that helps maximize airflow and holds the jaw right there, when the patient is asleep. It is an easy-to-use wearable device that patients can effectively use while moving around. It doesn’t create any humming machine noise that is often made by most sleep apnea devices. Around fifteen independent case studies have shown the clinical benefits of the Mandibular Advancement Device, with more than 90% patients having reported improved sleep.

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Bioelectronics and Biosensors Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa Research

The Global Bioelectronics and Biosensors Market is projected to surpass USD 28 billion by 2024 from USD 11.4 billion in 2013. It can register a decent CAGR over 10% from 2016 to 2024 (forecast period). High incidence of target diseases may drive the industry over the next eight years. Demand for diagnostic & monitoring tools, such as cardiac pacemakers, blood sugar level, and other implantable clinical devices, could boost the worldwide market in the near future.

Growing prevalence of diabetes along with the rising need to evaluate and monitor blood glucose levels could positively influence market demand. Technological advancements coupled with focus on innovation is anticipated to fuel global demand. For instance, in 2014 ‘HealthPatch MD’ developed by Vital Connect Inc. received FDA approval. HealthPatch MD is a biosensor that captures biometric measurements when applied to the skin.

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Furthermore, the emergence of nanobiosensors will benefit the global market in the long run. For example, Fluid-Screen, a quarter-sized device, employing very small nanosensors is gaining importance in the world of biosensors. This device identifies pathogens in water & bacterial contamination in blood. Moreover, demand for home-based POC devices is anticipated to increase in the years to come. These devices are used to determine heart rate, glucose levels, and blood pressure. Patients can use these devices sitting at home and can monitor their health. Hence, the ‘convenience’ factor associated with home-based POC devices may contribute to the worldwide market significantly.

However, the sluggish pace of commercialization because of readout times, sensitivity, costs, miniaturization, and lifespan of a molecule could hamper demand. Also, high costs in research & development and the low adoption levels of novel treatments are the other market restraints.

The global market is categorized as applications, technologies, and end-uses. Applications comprise medical applications, food toxicity detection, environment, industrial process control, and agriculture. The surging popularity of biosensors for blood sugar monitoring may fuel global demand in the near future.

On the basis of technologies, the market is divided into thermal biosensors, electrochemical biosensors, optical biosensors, and piezoelectric biosensors. The global demand for optical biosensors can surge substantially over the next eight years. These devices should modernize eco-monitoring by increasing the ability to differentiate & gauge eco-pollutants. This may propel the worldwide bioelectronics and biosensors market in the forecast period.

Based on end-use, the industry is fragmented into the food industry, home healthcare diagnostics, Point-of-Care (POC) testing, and research laboratories. The POC diagnostics segment was estimated at more than USD 14 billion in 2015. The introduction of bioelectronics has revolutionized the rapidly developing POC testing industry. POC biosensor systems provide real-time health monitoring, ensuring better patient health.

Geographically, the North America bioelectronics and biosensors market may witness considerable growth from 2016 to 2024. This would be on account of extensive applications in the healthcare segment. Asia-Pacific could also expand robustly over the forecast period. Major companies in the worldwide bioelectronics and biosensors market are F. Hoffmann-La Roche A.G.; LifeSensors Inc.; Abbott Point of Care Inc.; Nova Biomedical Corp.; and AgaMatrix Inc.

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Interventional Cardiology Devices Market Size, Share, Regional Outlook, Growth, Trends and Forecasts to 2020

The Global Interventional Cardiology Devices Market is anticipated to reach around USD 25.2 billion by 2020. High incidence of heart related disorders can directly impact product demand over the forecast period (2012 to 2020). Valvuloplasty, angioplasty, and coronary thrombectomy are procedures that need such devices. Key industry drivers are popularity of minimally invasive surgeries and unhealthy lifestyles that trigger the onset of cardiovascular anomalies. Also, rising cases of congenital heart diseases may positively impact the overall market in the years to come. The use of novel devices and new drug therapies in treating cardiovascular disorders has led to higher life expectancy and better quality of life of patients. According to the World Health Organization (WHO), number of deaths caused by cardiovascular disorders is expected to be nearly 23.3 million by 2030.

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The worldwide Interventional Cardiology Devices Market is segmented on the basis of products and regions. On the basis of products, the divisions are balloon inflation devices, PTCA balloons, stents, PTCA guidewires, and interventional cardiology catheters. With a market share exceeding 70%, interventional cardiology catheters dominated the global industry in 2013. Application of novel technologies that lower the risks of post-operative complications and restenosis in angioplasty is a key factor that drives this segment. Different types of stents are bio-absorbable, drug eluting, and metal. Bare metal stents have helped in lowering the rates of restenosis by around 20 to 25 percent.

However, owing to greater effectiveness, bio-absorbable & drug eluting stents are increasingly being used in place of bare metal stents. The bio-absorbable stents segment may register the highest growth rate in the forecast period. This is attributed to increasing awareness about the benefits of such stents, such as their ability to lower the possibility of restenosis. Catheters are a rapidly growing product segment because these are utilized extensively in minimally invasive medical procedures. Due to the high incidence of cardiovascular disorders, demand for angioplasty catheters may surge in the forthcoming years. This segment is propelled by technological advancements, widespread patient awareness, and prevalence of structural & congenital heart ailments.

Geographically, the global interventional cardiology devices market is categorized into Europe, North America, Asia Pacific, and Rest of the World. With shares surpassing 35%, North America dominated the overall industry in 2013. Widespread awareness in advanced economies and the presence of large pediatric & geriatric populations are key regional drivers. According to the American Heart Association, nearly 22% of the pediatric population belonging to the 6 to 17 years age group suffers from cardiovascular disorders. This owes to the prevalence of obesity in the region. Asia Pacific can expand at the highest CAGR over the forecast period because of popularity of minimally invasive procedures that ensure quick recoveries and cause minimal trauma to patients.

Key companies in the worldwide interventional cardiology devices industry are Boston Scientific, Abbott Laboratories, Terumo Medical Corporation, B. Braun Melsungen AG, and Cordis Corporation among others. In December 2016, Boston Scientific launched the SYNERGY stent. This product has been approved by the US FDA for use in the treatment of coronary artery disease. It is the first ever stent that offers synchronized polymer & drug absorption. It enables complete & rapid arterial healing and thus lowers the risks of complications pertaining to long term polymer exposure.

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Hearing Aids Market Analysis, Growth, Trends and Forecasts to 2020| Hexa Research

Due to a rapidly expanding geriatric population, the global Hearing Aids Market may grow at a nearly 4.4% CAGR during the forecast period (2012 to 2020). The industry stood at around USD 4.6 billion in 2015. Nerve deafness and congenital hearing problems are commonly occurring hearing defects among the elderly. High incidence of hearing problems and partial or full reimbursement for hearing aids are two key factors that drive this industry. At present, the global market is led by technological advancements and innovations. Interestingly, most hearing aids being manufactured nowadays are not only equipped with bluetooth but are aesthetically appealing as well. Surging demand for waterproof & 100% undetectable ones may fuel overall industry growth in the forthcoming years.  

Products, technologies, and geographies are three parameters based on which the global industry is segmented. Based on products, the categories are ITE (In-The-Ear), RITE (Receiver-In-The-Ear), BTE (Behind-The-Ear), and Canal Hearing Aids. Canal Hearing Aids are further segmented into CIC (Completely-In-Canal), IIC (Invisible-In-Canal), and Invisible-In-Canal. Demand for BTE and ITE is by far the highest because these devices rank high on comfort, are easy to use, and offer excellent connectivity.

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The BTE segment held a more than 55% market share in 2013. Behind-The-Ear aids are used mostly in children and in cases of profound hearing loss. The market for canal hearing aids is anticipated to grow at the highest CAGR till 2020. This segment is driven by popularity of invisible & aesthetically appealing hearing aids and rapidly changing lifestyles. Moreover, high R&D investments could also have a positive impact on these over the forecast period.

On the basis of technologies, the global industry is bifurcated into analog and digital. The digital technology segment generated highest revenues in 2013. The market for digital hearing aids is positively influenced by greater relative efficiency and use of wireless technology & bluetooth. Unlike analog hearing aids, the digital ones ensure digital noise reduction and digital speech enhancement. Owing to high performance & efficiency, digital segment may expand at a nearly 5% CAGR from 2012 to 2020.

Geographically, the worldwide Hearing Aids Market is categorized into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. With a revenue share exceeding 42%, Europe led the overall industry in 2013. Surging income levels in Western Europe and rising cases of hearing impairment are factors that propel regional demand. Most European countries have effective reimbursement policies, which in turn may positively impact the regional market. Asia Pacific can expand rapidly at a CAGR over 4% during the forecast period. This region is fueled by high incidence of age-related hearing disorders among the elderly and improvements in the distribution networks of key companies.

Prominent companies operating in the global Hearing Aids Market are William Demand Holdings A/S, Widex A/S, Sonova Holding AG, Benson Hearing, and Siemens Healthcare among others. Siemens recently developed the Silk Primax, which is a Completely-In-Canal (CIC) device that can easily fit in a person’s ear without ear moulds. This device is fitted with a disposable soft & high adaptable silicone click sleeve that provides high comfort to the user all day long.

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Electronic Health Records Market Share, Growth and Forecast to 2022 | Hexa Research

The growing trend of automation & digitalization in healthcare drives the Global Electronic Health Records Market. This industry is anticipated to surpass USD 30 billion by the end of the forecast period (2015 to 2022). Need for greater efficiency, improvements in service quality, and patient safety are factors that may augment growth in the forthcoming years. Implementation of favorable government initiatives, such as the ARRA (America Recovery and Reinvestment Pack) helps foster widespread adoption of health record systems.

Technological improvements in EHR have led to greater access to critical information with the help of handheld devices, such as tablets and iPhones. EHR systems are equipped with technologies that facilitate monitoring, evaluation, management, sharing, and modifications of treatment plans. They can even track the exact patient location in times of medical emergencies.

The global electronic health records Market is segmented as per applications, end users, and geographies. Based on applications, the Market is bifurcated into web based and client server based. The web based EHR segment is projected to expand considerably over the forecast period. Organizations can reduce initial costs by adopting web based EHR. They can also have access to their systems at anytime and from anywhere because of the SaaS model. Client server based models are generally expensive because of high hardware installation costs. However, their efficiency and speed are higher than those of web based EHR.

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On the basis of end users, the worldwide industry is divided into ambulatory centers, clinics, and hospitals. Owing to lesser medical errors and efficient patient handling, hospitals may witness significant growth in the years to come. This segment can register the highest growth rate till 2022. EHR devices are employed extensively by ambulatory centers. Physicians have reported that the adoption of EHR has led to quality healthcare services and greater patient satisfaction.

Geographically, the global electronic health records market is segmented into Asia Pacific, Europe, North America, and Rest of the World. In revenue terms, North America was the largest regional market in 2013. The region may continue dominating the worldwide market because of high investments in novel technologies and widespread adoption of the EHR technology. Surging demand for quality healthcare also plays a key role in stimulating regional growth.

Ongoing industry trends suggest that Asia Pacific could be the fastest growing regional segment from 2015 to 2022. This owes to growing importance of EHR, high R&D investments, rising disposable incomes, and popularity of sophisticated healthcare devices. Price sensitivity among consumers is also key driver of the Asia Pacific market.

Main industry competitors are NextGen Healthcare; Allscripts Healthcare Solutions, Inc.; Medical Information Technology Inc.; GE Healthcare; and Epic System. Besides being highly competitive, the global market is a consolidated one and monopolistic too. Most companies engage in the development of innovative & novel devices. Business ventures and geographical expansions are common strategies adopted by companies for gaining higher market shares.

In December 2016, the IBRI (Indiana Biosciences Research Institute) declared its efforts towards understanding how Type II diabetes varies from one patient to another. This research institute has access to data on more than 800000 diabetics in Indiana. This may lead to the development of better diagnostics solutions & newer treatments. The institute may facilitate tie-ups between industry players and academic collaborators. Such collaborations aim at investigating problems from data sources & multiple perspectives.

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