X-Ray Market to Outperform in Near Future

X-Ray

The rising incidence of various chronic diseases has fueled the global X-ray market. The increasing geriatric population in the world coupled with the commercialization of the new, improved, and technically advanced x-ray systems at an international level is the key reason behind the steady growth of this market.

The global X-ray market finds its application in the detection of various cardiovascular, dental, respiratory, and other diseases such as orthopedic and abdominal ailments. Mammography is another procedure where low-energy X-rays are utilized to detect if an individual is suffering from breast cancer.

Manufacturers are required to invest a hefty sum for the production of X-ray systems. The installation of X-ray systems is also quite expensive. However, several governments are implementing legal provisions, such as the Affordable Care Act, to promote cost containment in order to provide better healthcare at affordable price. These regulations are limiting the growth of the market to a large extent.

Portable Systems and Direct Digital Radiography: Breaking Historical Monopoly

Among the various products in the X-ray market, the market for stationary or fixed X-ray systems occupied a 60.1% share of the overall market in 2013. However, it is anticipated that the market for portable X-ray systems will show robust development in the coming years, and, by 2022, would surpass the stationary X-ray systems market.

Based on technology, the digital X-ray systems market has a monopoly over the global industry. In 2013, this market held a 69.1% share of the overall X-ray industry. Among digital X-ray systems, computed radiography systems dominated the market in 2013. However, the direct digital radiography systems market is likely to be the fastest developing one in the near future.

The global market for X-ray detectors is showing steady development. The advancement in X-ray detector technology coupled with the increasing demand for flat panel detectors is the key reason for this development. Major components of this market are flat panel detectors (FPDs) and other X-ray detectors. FPDs includes direct FPDs and indirect FPDs, whereas the others segment comprises CMOS, CCD, and X-ray films.

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Future of 3D/4D Visualization & Healthcare

Technological innovations have made computing of multiple probe signals possible across various imaging modalities. The market for advanced (3D/4D) visualization systems has seen proliferation from the advances in the field of computer hardware and software, in addition to advancements in the field of AV technology (3D) and PACS module. A significant improvement in the area of advanced visualization has been the move from a thick client to a thin client server and to cloud technology.

Advanced (3D/4D) visualization systems are increasingly finding demand in various clinical departments including cardiology, radiology, oncology, neurology, dentistry, and obstetrics/gynecology, owing to the noteworthy advantages offered by the innovative technology. Radiology department represents the largest market segment worldwide. Visualization functionality enhances radiologist efficiency through streamlining workflow processes, thus visualization technologies such as 3D and 4D imaging has emerged as a important tool for radiologists. Additionally, these tools sustain pre-operative arrangement by enabling physicians to formulate exact diagnosis. Advanced visualization technologies are driven by advancements in cardiovascular imaging with image acquisition techniques such as CT imaging.

Focus on increasing operational gains and enhancing patient safety is driving the market for (3D/4D) visualization systems globally. The medical and healthcare industry are becoming increasingly receptive to the expand range of clinically specific 3D/4D applications offered by imaging companies over and above generic 3D imaging capabilities. Some of these include CAT scan, i.e. Computerized Axial Tomography (CT), virtual colonoscopy and magnetic resonance (MR) angiography, coupled with a dynamic patient archiving and communications systems (PACS). Additionally, increase in demand for digitalizing the patient’s data is anticipated to have wider growth opportunity for companies offering 3D and 4D solutions in near future.

Mobile devices such as smartphone permit physicians convenience to and connectivity with electronic medical records, in-turn driving the widespread adoption of 3D imaging among physicians and surgeons. Moreover, integration of advanced visualization systems into PACS is driving the market growth. However, 5D is a major potential threat for 3D and 4D visualization Software.

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Radiofrequency Identification (RFID) and Enhanced Healthcare

Radiofrequency identification (RFID) is a system based on wireless technology which utilizes radio waves for collecting data from a tag attached to an object, for various purposes like automatic identification and tracking of objects. RFID technology has been applied in various sectors such as retail, supply chain, government, and manufacturing industries. Major applications of RFID technology include assess control and asset tracking. Application of RFID technology in healthcare is rather restricted and accounts for a smaller share in the overall RFID market. This report studies the RFID market exclusively for healthcare applications. Radiofrequency identification (RFID) market in healthcare has been studied from three main perspectives: RFID components, applications and geography.  

RFID components mainly include tags, readers and middleware. RFID printers and cabinets have assisted in expanding the market scope, especially in healthcare. RFID tags and readers market has been further segmented in to active and passive components. Active tags and readers have an internal power source such as battery, while passive components receive power from radio waves emitted by the tag or reader. Passive components are also studied according to frequency at which they operate. The passive RFID tags and readers market has been further segmented into low, high and ultrahigh frequency. Passive RFID technology dominated the RFID market with more than 70% of the market share. Radiofrequency Identification market in healthcare is expensively studied from the point of view of applications. The segments include equipment tracking, people identification and tracking, medical report, sample and blood transfer monitoring, medicine tracking, and supply chain.

Increasing incidences of medical devices theft, drug counterfeiting and increasing need of effective supply chain management due to increased patient visits at hospitals are main drivers of the market. From the point of view of geography, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. Each of these geographies is further divided according to application areas, while also giving overall scenario of RFID Components market for each geographical region.

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Each of the market segments have been analyzed on the basis of their current and future market size for the period 2012 to 2020, in terms of revenue (USD million), considering 2012 and 2013 as the base years. The compounded annual growth rate (% CAGR) for each market segment has been provided for the forecast period 2014 to 2020 along with the estimations of market size.

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Anti-aging Industry Boosted by Baby Boomer Population Nearing Retirement

Anti-aging is proving to be a lucrative business with products and services such as anti-wrinkle treatments and products, hair restoration treatments, hair color, radio frequency-device based treatments, and breast augmentation becoming much sought after worldwide. In a new market report published by U.S.-based market intelligence firm Transparency Market Research, the global market for these anti-aging treatments and products will grow to USD 191.7 billion by 2019, from being worth USD 122.3 billion in 2013. This marks a compounded annual growth rate (CAGR) of 7.8% between 2013 and 2019.

What are the major segments within the anti-aging market?

From the biological perspective, aging is defined as the deterioration and/or decline of functional properties at three main levels: cells, tissues and organs. This process is essentially a cycle of biochemical activities that are brought about in the body by various factors that work both internally and externally. Arguably, age affects the beauty, fitness, and health of an individual.

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The anti-aging market comprises a number of technologies and products as well as services and devices aimed at mitigating or reversing the signs of aging. A number of technological breakthroughs and advances have shaped the attributes of the anti-aging industry as well as the way market players’ reach in the market.

As compared to anti-aging devices and services, the category of anti-aging products demonstrates easy adoptability.

The anti-aging services segment is classified as cosmetic surgeries/procedures and non-invasive treatments, both of which are required to be practiced by certified practitioners, plastic surgeons, or trained and qualified beauty therapists. The market for anti-aging services is projected to demonstrate a CAGR of 5% between 2013 and 2019.

The market for anti-aging products is the largest in terms of revenue generation. The products market also holds potential for the introduction of new, safe, and efficient products.

This is a market that is still considered to be in its evolutionary stage, and it faces a certain degree of skepticism among consumers. However, the compliance of manufacturers with stringent regulatory mandates and the use of cutting-edge technology have restored faith in these products, services and devices to some extent.

What are the factors fueling the anti-aging market?

The anti-aging market is of special importance from the standpoint of the generation of Baby Boomers - a generation that was born between 1946 and 1964. This is a generation that witnessed a transformational era of revolutions and inventions. The Baby Boomers-widely regarded as the most successful generation in the 20th century - is now an aging generation that is nearing the age of retirement.

This makes them a consumer segment that shows maximum potential for the consumption of anti-aging products, services, and devices. The awareness among this generation pertaining to the availability of anti-aging products in the market is growing.

According to reports, the first Baby Boomers reached the age of retirement in 2012. Figures also indicate that over the next 18 years, nearly 8000 individuals
per day from this generation will turn 65.

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VIDEO - The future of Telemedicine in Emergency Medicine

A survey conducted by the United Nations revealed that about 46% of the global population resides in rural areas, with little or no access to appropriate healthcare facilities. The advent of video telemedicine and deployment of superior communication technologies will enable the rural population to obtain timely and affordable healthcare assistance. Video telemedicine capitalizes on wireless technologies and high-quality video capturing devices to facilitate remote connectivity to offer timely healthcare assistance to the rural population.

The research report is compiled to provide a comprehensive blueprint of the global video telemedicine market. The elementary components shaping the development of the market are analyzed in the report to define the determinants of market growth and examine the potential market restraints. The report evaluates the market in terms of distinct product segments, consumer groups, end-use industries, critical applications, distribution network, and key geographic regions.

For a more comprehensive overview, the report segments the video telemedicine market in terms of communication technology, applications, and geography. Based on communication technology, the market is divided into satellite communication, 3G, 4G, Broadband ISDN, and ADSL. With regard to application, the market is classified into dermatology, oncology, dentistry, cardiology, orthopedics, pathology, radiology, gynecology, and neurology & psychiatry.  

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Overview of the global video telemedicine market

The global video telemedicine market is projected to expand from its market value of US$559.0 million in 2013 to an estimated total of US$1,624.4 million by the end of 2020. Based on the projections, the market is likely to develop at a remarkable 16.5% CAGR between 2014 and 2020.

As early as the 1980s, telemedicine largely relied on the progress exhibited by the video conferencing technology. However, with the integration of webcams, high-quality video sensors, and fiber optic broadband systems, the video telemedicine market has revolutionized modern medicine by enabling face-to-face communication between healthcare service providers and patients.

Impelled by factors such as rapidly increasing geriatric and disabled populations, favorable government initiatives encouraging the use of the latest technology in medicine, enhanced cost and time efficiency offered by the technology to the healthcare sector, and proliferation of new communication technologies, the market for video telemedicine is expected to demonstrate robust growth during the forecast period.

However, resistance in rural areas to accept new technologies, inadequate network infrastructure at present, and lack of skilled staff will emerge as the major bottlenecks for the market. Nonetheless, the untapped markets in emerging economies will present significant market opportunities for the market players in the healthcare sector.

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Alarming Rise in Self-Care Driving Market for Enhanced Medical Devices

Self-care medical devices are those devices that are used for measuring and monitoring various vital parameters of a patient. These devices play an important role in monitoring blood sugar level, heart rate, hypertension and other conditions. With increasing healthcare awareness, the demand for self-care medical devices is also expected to increase during the forecast period. In addition, technological advancements and increasing disposable income are the key factors accentuating the growth of self-care medical devices market globally. Rising trend of regular personal monitoring and emphasis on preventive medicine will also further drive the demand for automated and self-care devices during the forecast period. The demand for self-care medical devices is increasing with more number of patients preferring to monitor specific diseases at home. Rapid advancements in self-care medical devices namely blood glucose monitors, blood pressure monitors, nebulizers and heart rate meters are contributing to the growth of this market. Also, remote communication technology that allows healthcare professionals to support the use of self-care is further increasing the uptake of self-care medical devices.

Self-care medical devices are used for measuring and monitoring various vital parameters of a patient. These devices play an important role in monitoring blood sugar level, heart rate, hypertension and other conditions.These devices measure, monitor, display and document physiological information obtained at regular intervals via sensors or other input devices attached to a patient.Increasingemphasis on preventive medicine is expected to widen the market for self-care medical devices. The global self-care medical devices market is estimated to be USD 10.5 billion in 2012 and is expected to reach USD 16.8 billion by 2019, growing at a CAGR of 7.0% from 2013 to 2019. Risingincidence of chronic diseases as well as lifestyle disorders (obesity, diabetes, hypertension and others) coupled with increasing healthcare awareness are driving the demand forself-care medical devices market globally.

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Self-care medical devices are further segmented as blood pressure monitors, blood glucose monitors,

body temperature monitors, heart rate monitors, sleep apnea monitors and others. Thesedevices are used forprimary care by patients, witnessing a paradigm shift intreatment from hospital to home based healthcare. Manufacturers are coming up with new and innovative digital blood pressure monitoring devices that are portable, easy to use and provide accurate readings instantly. Blood glucose monitors accounted for the largest market share in the year 2012 as compared to other self-care medical devices. Sedentary lifestyle, poor dietary habits coupled with growing geriatric population has resultedin a steady rise in the number of individuals diagnosed with diabetes.In addition, technological advancements and increasing awareness about managing diabetes are the factors accentuating the growth of the market for blood glucose monitors during the forecast period.

The market for self-care medical devices is segmented as blood glucose monitors, blood pressure monitors, temperature monitors, holter monitors, pregnancy/fertility test kits, sleep apnea monitors, nebulizers and pedometers. This report also explains various technological advancements taking place in each segment. The report includes market estimations of the global self-care medical devices market in terms of value (USD million) for the period 2013 – 2019, considering 2012 as the base year. In addition, current market trends and recent developments are taken into consideration while determining the growth rate of the global self-care medical devices market. The report provides market size and forecasts for each segment and geographic region with CAGR % for the period from 2013 to 2019.

North America contributed the largest share, i.e. over 40%, in 2012 of the global self-care medical devices market. The rising incidence of cardiovascular and respiratory diseases isthe major driving factor for the growth of self-care medical devices market in the North American region. Preference for home based healthcare monitoring has led to reduction of frequent visits to clinics and hospitals, consequentlyincreasing the uptake of self-care medical devices.The Asia-Pacific region is expected to witness the fastest growth due to expanding population coupled with sedentary lifestyle and rising stress levels. A high prevalence of diabetes and cardiovascular diseases in middle income nations,as compared to that in high-income nations,has left a largenumber of people undiagnosed and untreated. However, growing awareness among these people has triggered the demand for self-care medical devices and is expected to further grow during the forecast period.

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