Tag: Hospitals

Viscosupplementation Market Worth $7.8 Billion By 2027

The global viscosupplementation market size is expected to reach USD 7.8 billion by 2027, based on a new report published by Grand View Research, Inc. It is anticipated to exhibit a CAGR of 9.2% during the forecast period. Improving regulatory and reimbursement scenarios regarding the use of viscosupplements for the treatment of Osteoarthritis (OA) is expected to aid the growth. For instance, in U.S., unique reimbursement codes are allocated for different products available in the country.

Viscosupplementation procedure is an effective alternative for patients nonresponsive to other treatment options for osteoarthritis. These products have been clinically proven to be effective in providing long-term relief to OA patients with very few side-effects. Factors, such as the growing awareness regarding effective non-surgical procedures for the management of OA and global increase in the target population due to the increasing prevalence of obesity and other lifestyle-induced disorders, are expected to propel the market growth during the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/viscosupplementation-market

Further key findings from the study suggest:

  • Three injections segment dominated the market in 2019 owing to the availability of multiple products and significant market presence
  • Single injection segment is anticipated to witness the fastest growth during the forecast period owing to the increase in demand for a shorter regimen of procedures and faster recovery time
  • The utilization of viscosupplementation is maximum in Ambulatory Surgical Centers (ASCs), and orthopedic clinics. The higher usage of the viscosupplements is observed to be in outpatient settings owing to better reimbursement options
  • General physicians, rheumatologists, and orthopedists are the main influencer in the viscosupplementation market. The role of an influencer in the procurement of the product in the hospitals and clinics varies from region to region
  • Asia Pacific held the largest market share in 2019 and is expected to maintain its position during the forecast period due to the presence of key players and high incidence of osteoarthritis in the countries such as Japan and China.
  • Europe is expected to witness a lucrative CAGR in the forthcoming years, due to growing awareness about applications of non-surgical techniques and increasing disposable income
  • Key players are investing in improving their product portfolio to develop advanced products to maintain their market position. For instance, in March 2019, Seikagaku Corporation introduced a new intra-articular viscosupplement named HyLink (single injection) in Italy for the treatment of knee OA
  • Companies are also undertaking strategic initiatives, such as marketing licensing and distribution partnerships to increase geographic presence
  • Some key industry contributors are Anika Therapeutics, Inc.; Sanofi; Ferring B.V.; Seikagaku Corporation; Bioventus; Zimmer Holdings Inc; LG Life Sciences Ltd; and Lifecore Biomedical, LLC

Pacemaker Market Size Worth $5.8 Billion By 2027

The global pacemaker market size is anticipated to reach USD 5.8 billion by 2027, expanding at a CAGR of 2.9%, as per the new report by Grand View Research, Inc. The increasing prevalence of cardiovascular diseases is a key growth driver for the market. As per the CDC, in 2017, CVDs accounted for about 800,000 deaths in the U.S alone. Moreover, coronary heart disease accounts for the highest number of deaths, followed by stroke and heart failure.

As per the British Heart Foundation Centre in 2018, nearly 7.4 million individuals are living with circulatory and heart diseases in the UK. More than 43,000 individual under 75 years of age dies due to cardiac diseases every year in the UK. To curb the rising prevalence of CVDs is government bodies and key market players are channelizing revenues to offer a potential treatment. This is anticipated by the influx of advanced products in this market space.

As per the CDC, 2020, more than 15.0% of U.S. adults are physically inactive that shows the prevalence of adult physical inactivity. Technological developments are quickly renovating the market. Key players are focusing on expanding their current portfolio such as in January 2020, BIOTRONIK launched an injectable cardiac monitor, BIOMONITOR III in Japan. It is intended to measure irregular heart rhythms with increased clarity. The injectable cardiac monitor also documents the unexplained syncope. Moreover, in January 2019, Medtronic launched MyCareLink Heart (TM)-a mobile app for communicating directly with patients via smartphones.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/pacemaker-market

Further key findings from the report suggest:

  • MRI compatible pacemakers is the fastest-growing segment from 2020 to 2027 owing toa higher patient preference rate as 75% of the patients with pacemakers are likely to get MRI during their lifetimes
  • Atrial Fibrillation held the largest market share in 2019 owing to the heightened prevalence of growing with age. As per the National Center for Biotechnology Information, 2020, nearly 6 to 12 million people globally are expected to suffer from atrial fibrillation in the US alone by 2050
  • The biventricular chamber product segment is expected to be the fastest-growing segment from 2020 to 2027. The device is also is known as Cardiac Resynchronization Therapy (CRT) device. An increase in the prevalence of heart failure is one of the major factors driving the growth of the segment
  • Key companies are adopting new strategies to attain a competitive edge. Product development, collaborations, partnerships, mergers and acquisitions, and regional expansion are few of them.

Neuroendocrine Tumor Treatment Market Size Worth $3.33 Billion By 2025

The global neuroendocrine tumor (NET) treatment market size is expected to reach USD 3.33 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to register a CGAR of 10.4% during the forecast period. Increasing pervasiveness of carcinoid tumors is expected to drive the market over the forecast period. Heavy investment in clinical trials by various pharmaceutical companies to develop novel products is another factor propelling the market development.

For instance, Novartis AG has the highest number of clinical trials followed by Pfizer Inc. and Ipsen Pharma. Moreover, technological advancements in therapies to treat neuroendocrine tumors are anticipated to fuel the market growth over the coming years. Some of these include PET imaging with Ga labeled Somatostatin, targeted drug therapies, and tyrosine kinase therapies. For instance, Lutathera by Novartis AG received FDA approval for the first ever radionucleotide therapy.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/neuroendocrine-tumor-net-treatment-market

Further key findings from the study suggest:

  • Somatostatin analogs segment accounted for the largest revenue share of more than 60% in 2017 owing to its cost-effective and safe therapy procedure
  • The pancreas segment is expected to exhibit the highest growth in the neuroendocrine tumor treatment market over the forecast period
  • Clinics segment is expected to register the highest CAGR of 10.9% over the estimated period due to increasing patient preference for clinics over other healthcare settings
  • North America held the largest share of the global neuroendocrine tumor treatment market in 2017 mainly due to favorable government insurance policies
  • Some of the key companies in the global market are Pfizer, Inc.; Novartis AG; Ipsen Pharma; and Boehringer Ingelheim International GmbH. Major companies focus more on R&D to develop novel therapeutics for NETs.

Eyelid Surgery Market Size Worth $5.2 Billion In 2026

The global eyelid surgery market size is expected to reach USD 5.2 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 5.8% over the forecast period. The growing use of non-surgical techniques, PlexR, for eyelid surgery and increasing aging population are some of the factors driving the market. In addition, rising cosmetic surgeries to remove bulges on the skin, wrinkles, and fat near the eyes are also expected to propel the market growth during the forecast period.

Medical and technical advancements in blepharoplasty are also anticipated to fuel market growth. Cosmetic surgeons are adopting a multi-procedure approach to enhance the overall results of eyelid surgery. For instance, combining eyelid surgery with an eyebrow lift, volume augmentation, or other related procedures is expected to have a synergistic effect, thereby boosting demand.

The growing cosmetic industry in the U.S., Brazil, South Korea, and Japan is another factor driving the market. Moreover, increasing adoption of advanced cosmetic procedures in emerging economies to improve appearance of eyes and reduce under eye fat is anticipated to positively impact market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/eyelid-surgery-market

Further key findings from the study suggest:

  • The upper eyelid surgery segment is anticipated to lead the eyelid surgery market in the forecast period due to its relatively low cost and rise in geriatric population
  • Clinics & surgery centers segment is expected to hold substantial share in the forecast period owing to factors such as availability of skilled professionals and increase in the number of clinics and surgery centers
  • Increasing adoption of advanced medical tools and techniques is anticipated to boost market demand. For instance, the non-surgical eyelid surgery removes the excess skin and provides the same results as surgical procedures do, without the inherent complications associated with the traditional procedure.
  • North America holds the largest share compared to other regions, due to quick adoption of innovative medical techniques for surgeries and high demand for aesthetic procedures
  • Asia Pacific is also expected to grow significantly in the forecast period owing to increasing disposable income and growing medical tourism in the region.

Advanced Bipolar Direct Energy Devices Market Worth $3.3 Billion By 2026

The global advanced bipolar direct energy devices market size is anticipated to reach USD 3.3 billion by 2026 registering a CAGR of 14.2%, according to a new report by Grand View Research, Inc. Increasing adoption of bipolar electrosurgical systems over conventional devices and high demand for laparoscopic surgeries are anticipated to boost the market growth.

These systems are mostly used to coagulate, cutting, fulguration, and desiccate soft tissues through generating heat by an electric current. The product demand has been increasing owing to its benefits in surgical procedures, such as lower risk of hemorrhaging than conventional devices that focus on scalpels. In addition, conventional equipment are costlier, which is also driving the demand for advanced bipolar direct energy systems for improved safety in desiccating soft tissues.

Technological advancements in the field are further expected to augment the market growth. For instance, XCELLANCE Medical Technologies launched a new 6-sense technology designed for cutting tissues at lower voltages by sensing voltage and power. This technology minimizes the patient recovery time and is a versatile tool for hemostatic dissection in performing surgical procedure.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/advanced-bipolar-direct-energy-devices-market

Further key findings from the report suggest:

  • Electrosurgical generator systems led the global market in 2018. The segment is projected to expand further at the fastest CAGR from 2019 to 2026
  • Hospital was the dominant end use segment in 2018 owing to increased number of laparoscopic surgical procedures for tissue coagulation performed in these healthcare settings
  • North America led the global advanced bipolar direct energy devices market in 2018. However, Asia Pacific is estimated to be the fastest-growing regional market over the forecast period
  • Some of the key companies in this market are Bovie Medical Corp., Medtronic PLC, B. Braun Melsungen AG, XCELLANCE Medical Technologies Pvt. Ltd., Olympus Corp., and Karl Storz
  • These companies focus on technological advancements to gain competitive advantage. Medtronic launched Aquamantys bipolar sealers designed by transcollation technology, which combines Radiofrequency (RF) energy and saline to provide hemostatic sealing of soft tissues

Digital Breast Tomosynthesis Market Size Worth $3.89 Billion By 2026

The global digital breast tomosynthesis market size is expected to reach USD 3.89 billion by 2026 registering a CAGR of 13.5%, according to a new report by Grand View Research, Inc. Rising awareness about the use of DBT, increasing prevalence of breast cancer, and introduction of technologically advanced products are the key driving factors for the market.

As per the Susan G Komen Breast Cancer Foundation Inc., in 2019, around 41,760 new cases of breast cancer will be reported. In addition, as per the data published in South African Journal of Radiology in 2018, breast cancer is one of the most common cancer type and is one of the leading causes of death in South Africa. Such factors are anticipated to drive the market over the forecast period. 

Favorable reimbursement policies are also anticipated to boost the market growth. For instance, Brazilian Ministry of Health has given recommendations for tomosynthesis for the screening of breast cancer. Furthermore, several advantages of DBT are also expected to increase the product demand. For instance, as per the Breast Cancer Organization, after getting the U.S. Food and Drug Administration (FDA) approval, 3D breast tomosynthesis systems are witnessing higher demand than 2D systems.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/digital-breast-tomosynthesis-market

Further key findings from the study suggest:

  • In terms of revenue, standalone 3D systems segment held the largest share in 2018 owing to high prevalence of breast cancer across the globe
  • Diagnostics centers segment is expected to witness the fastest CAGR over the forecast period owing to increasing awareness about DBT in both developed and developing countries
  • Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to the introduction of technologically advanced products
  • Prominent companies in the global digital breast tomosynthesis market are Hologic, Inc.; GE Healthcare; Siemens Healthineers; Dexela Ltd.; and Fujifilm Corporation

Durable Medical Equipment Market Size Worth $271.0 Billion By 2026

The global durable medical equipment (DME) market size is expected to reach USD 271.0 billion by 2026 registering a CAGR of 6.1%, according to a new report by Grand View Research, Inc. The market is primarily driven by rise in chronic diseases, such as kidney failures and cancer. Moreover, technological advancements along with strong reimbursement scenario will boost the DME market further. For instance, in January 2019, WHILL, Inc., a U.S.-based personal electric vehicle, introduced new technology WHILL autonomous drive at the Consumer Electronic Sow held at the Las Vegas. In the past, Medicare has taken steps to bring reimbursement of DME products in line with other payers.

In this direction, in December 2015, the Center for Medicare & Medicare Services (CMS) issued a new rule of prior authorization process for DME, Prosthetics, Orthotics, and Supplies (DMEPOS). The DMEPOS includes the master list of 135 items, which require prior authorization before beneficiary receives an item. In addition, growing geriatric population across the globe is likely to contribute to the industry expansion. People aged 60 years or above are more prone to health issues, such as diabetes, mobility issues, Cardiovascular Diseases (CVDs), and other lifestyle problems. This creates demand for DME products. However, stringent regulatory guidelines in developed economies and lack of skilled professionals may limit the durable medical equipment market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/durable-medical-equipment-dme-market

Further key findings from the study suggest:

  • Personal mobility devices emerged as the largest segment owing to the launch of technologically advanced products with more comfort and portability
  • Nursing homes is anticipated to be the fastest-growing segment over the study period as these facilities offer custodial care like skilled care, such as bathing and dressing
  • Europe led the market with the largest share in 2018 and will witness a steady growth in future on account of the presence of major companies in the region
  • Asia Pacific is expected to register the highest CAGR from 2019 to 2026 owing to the presence of a large target population base and improving healthcare facilities
  • Some of the key companies in the global DME market are Invacare Corporation; ArjoHuntleigh; Stryker Corporation; Hill Rom, Inc.; Drive Medical; GF Health Products, Inc.; Sunrise Medical; Medline Industries, Inc.; and Carex Health Brands, Inc.

Surgical Stapling Devices Market Size Worth $8.02 Billion By 2026

The global surgical stapling devices market size is anticipated to reach USD 8.02 billion by 2026, according to a new report by Grand View Research, Inc., progressing at a CAGR of 8.23% during the forecast period. Application of surgical staplers has gradually evolved from invasive surgeries to minimally invasive surgeries. With introduction of advanced surgical staplers, difficulties associated with the use of conventional staplers have been addressed.

Obesity is increasing among adults as well as adolescents below 18 years of age due to sedentary lifestyles and unhealthy diet patterns in this age group. In case of eating habits, people are more inclined towards fast food rather than healthy food. Growing busy schedule and increasing stress are both causing people to consume packed and processed food.

Severe cases of obesity cause other conditions, such as diabetes and cardiovascular conditions, resulting in many opting for bariatric surgery. According to the Canadian Institute for Health Information (CIHI) 2014 data, the number of bariatric surgeries has drastically increased from 1,600 in 2006-2007 to 6,000 in 2012-2013. This indicates high demand for these surgeries owing to increasing awareness about surgical options for weight loss.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/surgical-stapling-market

Further key findings from the report suggest:

  • Manual surgical stapling devices dominated the market in terms of revenue in 2018. However, powered devices are projected to witness strong growth during the forecast period
  • An alarming number of emergency cases can lead to surgical fatigue, thereby, reducing productivity. Powered stapling devices allow surgeons to perform more number of surgeries in emergency wards
  • There is an increasing demand for disposable devices due to heightened concerns for communicable infections. Owing to which, disposable staplers are likely to dominate the market through 2025
  • Disposable staples are made of plastic, whereas reusable staples are made of stainless steel. Both disposable and reusable staples have disposable cartridges and although reusable, staplers generate lesser surgical waste
  • North America dominated the overall market in terms of revenue in 2018. The growth of the region can be attributed to surging bariatric surgeries, introduction of powered staples, and soaring need for tissue and wound management
  • Key industry contributors include Covidien plc; Ethicon Endo-Surgery, Inc.; Intuitive Surgical, Inc.; United States Surgical Corp; Cardica, Inc.; Zimmer Holdings, Inc.; Stryker Corporation; Smith & Nephew plc; Conmed Corporation; and CareFusion Corporation
  • In November 2018, Ethicon launched ECHELON FLEX GST System for exceptional staple line integrity across wide range of tissue thickness under its Bariatric Revision Surgical Solutions.

U.S. Advanced Wound Care Market Size Worth $3.4 Billion By 2026

The U.S. advanced wound care market has witnessed substantial growth in recent years, aided by the expanding healthcare infrastructure in the region, government support and initiatives through a number of programs, and the presence of major players in the region.

The U.S. advanced wound care market is projected to be worth USD 3.42 billion by the year 2026, advancing at a CAGR of 4.2% over the forecast period, as per a study by Grand View Research, Inc. The primary factor for the industry growth is the continued rise in the number of surgeries in the country, coupled with the high number of incidences of chronic wounds in the region. Wound care products can be broadly classified into traditional and advanced, the major difference being that the former is used to treat simple wounds, while the latter finds use in complex wound cases. Some of the common advanced wound care products include hydrocolloids, hydrogels, film and foam dressings, and alginates. Increasing incidences of surgeries have also helped in positively shaping the advanced wound care industry in the region.

Recent years have witnessed a rise in the number of surgical procedures in the U.S., with data from 2014 estimating that around 51.4 million surgeries were performed in the region. Rising prevalence of chronic diseases, such as cancer, diabetes, and autoimmune diseases, is one of the key factors leading to an increase in the number of surgeries being performed in the country. As per data offered by the CDC in 2020, around 34.2 million people, amounting to 10.5% of the country’s population, are suffering from diabetes. Diabetes leads to slower healing of wounds, which can cause infections and risky health issues; advanced wound care products are used to address this issue, thus driving market growth. Additionally, there has been a continued growth in the incidences of infectious and non-communicable diseases, caused majorly by an unhealthy lifestyle pattern followed by a large population, coupled with a rise in the number of food-borne diseases. On the whole, wound care treatment accounts for a significant proportion of the nation’s healthcare expenditure.

The advanced wound care market in the United States can be broadly classified on the basis of product, end-use, and application. Advanced wound care products comprise a wide variety of treatments and dressings involving hydrocolloid, hydrogel, alginate, collagen, and film and foam dressings, among others. Major end-use segments include hospitals, home care, and specialty clinics, among others. Application areas for advanced wound care products cover chronic wounds (diabetic foot ulcers, pressure ulcers, and venous leg ulcers, among others) and acute wounds (burns, and surgical & traumatic wounds). The United States has a large number of domestic players competing for market dominance, with some notable names being Smith & Nephew, Mölnlycke Health Care AB, Acelity (KCI Licensing, Inc.), ConvaTec Group PLC, and Baxter, among other regional competitors.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/us-advanced-wound-care-market

U.S. Advanced Wound Care Market Report Highlights

  • Wound care is a significant part of the healthcare infrastructure in the US, with a retrospective analysis of Medicare beneficiaries in 2018 finding that around 8.2 million people in the country had wounds, with or without infections
  • The estimates for Medicare costs involving chronic and acute wound treatments ranged from USD 28.1 billion to USD 96.8 billion, with surgical wounds and diabetic foot ulcers accounting for a significant portion of the spending
  • Type II diabetes is the most common type of diabetes, affecting 90% of the diabetic population. Diabetic foot ulcer, a common complication of diabetes, typically requires surgical intervention to prevent foot amputation
  • Cancer is a major cause for the presence of malignant or cancerous ulcers in a patient, which in many cases require appropriate dressings in order to treat them; this is a major factor driving growth of the advanced wound care industry
  • In terms of revenue, foam dressing segment held the largest share in 2018 owing to the rising incidence of chronic wounds in the region; these wounds affect 5.7 million patients in the country, accruing annual costs of around USD 20 billion
  • In the application segment, the chronic wound segment is expected to witness the fastest growth rate over the forecast period owing to the rising incidence of diabetes in the U.S.
  • Home healthcare segment is expected to witness fastest growth over the forecast period, as many surgeries require an elongated period of healing time, making the home setting a promising avenue for market players in the coming years
  • The global COVID-19 pandemic led to a drastic reduction in the number of physical visits for patients requiring wound care, with the US healthcare setup under huge stress owing to the exponential increase in coronavirus admissions
  • Home healthcare and telemedicine have been touted as effective measures to manage wound infections during the pandemic, with the system expected to witness wider application in the near future, thus driving market growth for advanced wound care
  • Major industry players have implemented strategies such as mergers and acquisitions, as well as new product launches, in order to garner higher market share
  • For instance, in January 2020, ConvaTec announced the release of ConvaMax superabsorber dressing to manage highly exuding wounds such as diabetic foot ulcers, leg ulcers, and pressure ulcers
  • In October 2019, 3M completed the acquisition of Acelity, Inc. along with its KCI subsidiaries globally, thus expanding their presence in advanced and surgical wound care areas

Enzymatic Wound Debridement Market Size Worth $1.10 Billion By 2026

According to a recent report published by Grand View Research Inc.,product approval initiativesis likely to accelerate market expansion.

According to a report, “Enzymatic Wound Debridement Market Size, Share, & Trend Analysis Report By Product (Papain Product, Collagenase Product), By End Use (Hospitals, Homecare), And Segment Forecasts, 2019 – 2026”, published by Grand View Research, Inc. The global enzymatic wound debridement market size is expected to reach USD 1.10 billion by 2026, registering a CAGR of 5.8%, as per a new report by Grand View Research Inc.The increasing incidence of chronic diseases and the introduction of technologically advanced products are factoring the enzymatic wound debridement market growth.

Researchers and industry players have undertaken several initiatives for developing technologically advanced products. Collagenase-based enzymatic wound debridement products are majorly used for chronic & acute wounds treatment. Such products are gaining acceptance and has fueled the introduction of several technologically advanced products are being introduced in the market. For instance, NexoBrid (NXB), previously referred to as Debriding Gel Dressing (DGD)—which is derived from pineapple Bromelain group of enzymes-was introduced in 2017. NXB is an enzymatic wound debriding drug that can be effectively used in treating deep burn wounds.

New products are receiving government approvals for further commercialization.  For instance, in May 2019, Vericel Corporation entered into a supply agreement and exclusive license with Medi Wound Ltd. to capitalize their product called Nexo Bridin North America. The Nexo Bridreceived approval in the U.S., European Union, and other international markets.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/enzymatic-wound-debridement-market

Enzymatic Wound Debridement Market Report Highlights

  1. According to the WHO, an estimated 180 000 deaths occur every year due to severe burns in middle- and low-income countries and 30,000 people suffer new burns globally, some are severe enough to warrant immediate medical attention. Increasing number of accidents has resulted in a considerable growth of the market products
  2. Market giants have entered into strategic alliances to enhance product innovation capabilities and stay ahead of the market competition. In June 2019, MediWound launched EscharEx® under the U.S. Clinical Development Program as the company’s topical biological drug candidate for hard-to-heal wounds. The company followed the pre-defined interim assessment of enzymatic and autolytic debridement to ensure the efficacy, safety, and clinical benefit of EscharEx
  3. The acute wounds segmentaccounted for the highest revenue share in 2018. They include lacerations, burns abrasions, incisions, puncture wounds, etc. and is driven by the increasing number of burn injuries worldwide
  4. Collagenase-based enzymatic wound debridement product segment dominated the market in 2018. Collagenase-based creams, ointments, and gels are widely used for debridement of necrotic tissue from pressure ulcers, venous leg ulcers, burn wounds, and partial-thickness burns
  5. North America led the global market in 2018 due to rise in sports-related injuries and road accidents