Big Data in Healthcare Market 2018-2026: Market to Remain the Fastest Growing market

Big Data in Healthcare Market

Big data in healthcare market revenue is expected to grow at lucrative rate over the forecast period primarily due to increased digitalization in industrial process. Digitization is transforming industrial processes, functions, products, and services. Advent of e-commerce has resulted in a sudden spurt in data being generated by various companies. Also, with decades of research and development activities across the healthcare industry, there is a large amount of data, referred to as 'big data', piled up with host organizations. It is therefore essential to ensure optimum utilization of this data for reducing costs, providing targeted products and services, and avoiding duplication of work. Big data solution helps simplifying and analyze complex and diverse data, a task that cannot be achieved using conventional software and hardware. Moreover, such kind of data cannot be managed with trivial data management tools and methods. Various tools such as Pentaho, Hadoop, Cloudera, and MongoDB are available in the market for the same. These tools help in data cleaning, mining, and analyzing of big data. There are also various data visualization tools such as Tableau, Silk, and Chartio that help in presenting the data in a more convenient and readable form.

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Big data helps healthcare companies to mitigate the risk of losing millions of dollars in revenue and profits through their conventional strategic decision making methods. Globally, big data in healthcare market scenario can be segmented on the basis of application, analytics type, delivery model, and end users.

• Big Data in Healthcare Market, by Analytics Type
  • Descriptive Analytics
  • Predictive Analytics
  • Prescriptive Analytics
• by Application
  • Clinical Analytics
  • Financial Analytics
  • Operational and Administrative Analytics
  • Population Health Analytics
• by Delivery Model
  • On-premise
  • On-demand
• by End User
  • Payers
  • Providers
  • Third party care organizations

Pharmaceutical companies, payers, and experts are using big data analytics/solutions to analyze and obtain insights about industry trends and accordingly make detailed and accurate projections about the market. Based on the insights from big data solutions, various recipients can make informed decisions to improve their products or services.

Dearth of Skilled Manpower to Inhibit Growth of Big Data in Healthcare

Although, the market is huge in the developed nations, particularly in the U.S., dearth of trained personnel for analyzing big data is projected to limit the growth of this market in North America. Moreover, factors such as decreasing profit margins, slowdown in the global economy, and lack of skilled manpower is inhibiting growth of big data implementation in the healthcare industry. Some of the other challenges for big data in healthcare include data fragmentation, security issues, and lack of standardization. Furthermore, big data solution providers need to ensure compliance with regulations laid by the Health Insurance Portability and Accountability Act of 1996 (HIPAA). These factors are especially prevalent in developing economies of Asia Pacific and Latin America due to lack of effective healthcare infrastructure and inadequate supportive government regulations. Increasing cost pressure and lack of trained professionals dissuades healthcare providers from implementing expensive systems supporting big data solutions. However, improvement in IT infrastructure in developing economies over the near future is expected to be a major contributor for increase in demand for big data.

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Fragmented Market

There are various small and global players offering big data software and services. The small regional players offer big data services at low costs, which creates a high entry barrier for global players looking to establish their footprint in emerging markets. The market is highly fragmented, with various players offering services differentiated in terms of pricing and inclusions. Some of the key companies in the global big data in healthcare market include Hewlett-Packard Co., Teradata Corporation, Opera Solutions, Cognizant Technology Solutions, Siemens Healthcare Gmbh, Mu Sigma, Splunk Inc., Cloudera, EMC, IBM, Calpont Corporation, and Oracle Corporation.

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Electric Wheelchair Market - Size, Outlook, and Opportunity Analysis, 2018-2026

Electric Wheelchair Market

An electric wheelchair is a wheelchair that uses electric motor rather than manual power for functioning. Electric wheelchairs are useful for those who cannot use manual wheelchairs or who need to use wheelchairs for considerable long distance. These can be usually used by people who are physically challenged and also senior citizens with problems related to mobility. Design of a wheelchair consists of the following elements: battery, drive system, controller, and seat. The electric motors of these chairs are usually powered by 12-80 ampere per hour of rechargeable deep-cycle batteries. Some users are not able to use hand controllers and therefore, various other options are made available, for instance, sip and puff controllers, which works by blowing into the sensor. Electric wheelchair can also be used by people suffering from diseases such as chronic diseases and asthma. Electric wheelchair offers special features such as tilting capabilities, elevation of seats, and leg elevation. Electric wheelchair can also be dissembled and folded to take it around wherever needed. These are light in weight i.e. less than 100 lbs, and are also compact in size, which is ideal for narrow doorways and small spaces.

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Electric Wheelchair Market Drivers:-

Growth of the electric wheelchair market is driver by increasing launches of new products with advanced technologies such as automatic folding wheelchair. For instance, in June 2018, Quantum Rehab launched Edge 3, the most advanced power chair, with an upgraded SRS (Smooth Ride Suspension). SRS provides stability, comfortable, and smooth ride. Its standard features include USB charger, drive wheel color accents, and front and rear fender lights. In 2017, Ivacare Corporation, a U.S.-based company, launched TDX-SP2 ELECTRIC WHEELCHAIR. This electric wheel chair has LiNX technology and advanced positioning. LiNX technology electronic system includes wireless programming and remote monitoring, which enables better clinical evaluations and touch screen display. This technology also enables easy intuitive programming and also hassle free functioning of the equipment for its customers. Other factors, which are expected to boost growth of the electric wheelchair market are rising geriatric population, rising awareness related to benefits of use of automated wheelchairs over manual wheelchairs, and increasing prevalence of chronic disorders in geriatric population. According to a survey conducted by Population Reference Bureau in 2016, there were over 46 million senior citizens of the age 65 and above in U.S. About 48% of this aging population are disabled due to age factor and chronic diseases. According to a survey conducted by the U.S. Census Bureau in 2017, around 40 million people in the U.S. are physically challenged. Moreover, according to a survey conducted by Center for Disease Control and Prevention in 2016, over 117 million people were diagnosed with chronic disorders. All these factors are expected to support growth of the electric wheelchair market over the forecast period (2018-2026).

Electric Wheelchair Market Regional Analysis:-

North America is expected to hold dominant position in the global electric wheelchair market, and is also expected to exhibit a significant growth rate, owing to increasing launches of novel products in the market. For instance, in April 2018, Quantum Rehab, a U.S.-based company, launched Kozmo and Kozmo Portable. This device is especially made for children. The size of Kozmo Portable electric wheelchair is compact and easy to carry. It helps in fast transport and is convenient for parents and children. Moreover, in April 2018, Quantum Rehab launched products including TRU-BALANCE 3 and TRU- BALANCE FLEX. Such new range of products is expected to fuel growth of the electric wheelchair market. Furthermore, Medicare, national (U.S.) health insurance program provides reimbursements on buying an electric wheel chair. The patient pays 20% of the amount mentioned for a given product and Medicare pays the remaining 80%. Such reimbursement plans can boost adoption of the electric wheel chair market in North America.

Asia Pacific is also expected to witness high growth in the global electric wheel chair market, due to rise of chronic diseases in geriatric population and increasing launch of electric wheel chairs with advanced technology. According to a survey conducted by National Institutes of health in 2015, cardiovascular disease is rising in Asian population. Cardiovascular disease has caused approximately 52% of deaths in India. For instance, in 2017, Whill Inc., a Japan-based company, launched Model M. This device has omni-wheel technology, which can be used on rough terrain. It also has a compact size and its agile steering can easily navigate in narrow and tight spaces. Such innovations are expected to fuel growth of the electric wheelchair market.

Electric Wheelchair Market Key Players:-

• Drive Medical Ltd.
• Permobil AB
• Quantum Rehab
• GF Health Products Inc.
• Invacare Corporation
• Karman Healthcare
• Pride Mobility Products Corp
• LEVO Ag
• MEYRA GmbH
• OttoBock Healthcare GmbH
• Whill Inc.
• Sunrise Medical Limited.

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Electric Wheelchair Market Taxonomy:-

By Product Type:-

• Rear Wheel Drive
• Front Wheel Drive
• Center Wheel Drive
• Standing Electric Wheelchair

By End Users:-

• Home Care Settings
• Hospitals/ Clinics
• Others

By Region:-

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East
• Africa

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Closed Blood Sampling System Market - Global Industry Insights, Trends, Outlook 2018-2026

Closed Blood Sampling System Market

Closed blood sampling system is a closed, needle free blood sampling system that reduces blood waste and minimizes the risk of transmission of infectious diseases. Closed blood sampling system aims to increase the efficiency of the blood sampling process, especially in the cases of critically ill patients suffering from severe injuries or trauma. The closed blood sampling system has a reservoir, which allows blood storage and minimize repeated blood isolation from the site of sampling such as antecubital area, hand or wrist or foot. The unused blood in the reservoir can be re-infused into the same patient. The global closed blood sampling market is driven by factors such as rising incidence of surgeries and trauma as well as advantages of closed blood sampling system over the conventional techniques.

Closed blood sampling systems require less blood as compared to open blood sampling system, thus leading to less blood loss in patients. Moreover, implementing closed blood sampling systems significantly reduces iatrogenic anemia, thereby reducing the necessity for blood transfusions and minimizing possible risk of negative transfusion effects. However, lack of implementation of this process and lack of professionals are expected to hinder growth of closed blood sampling system market.

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Closed Blood Sampling System Market Drivers

Increasing number of surgical procedures is a major factor driving growth of global closed blood sampling system market. According to the estimation of the World Health Organization, 266.2 to 359.5 million surgeries were performed in 2012, which was around 38% higher as compared to the previous years and is expected to increase in the near future. Therefore, increasing number of surgeries and emergency cases, and high demand for blood transfusion increases the demand for closed blood sampling system. Moreover, studies by the National Center for Biotechnology Information (NCBI) reported that the patients admitted in ICU are majorly anemic and around 30 - 37% of the patients receive blood transfusion while admitted in ICU, which also shows the rising need for closed blood sampling system.

In critically ill patients and patients under observation in ICU, blood sampling is frequently done to monitor the hemodynamics. In conventional blood sampling systems, the blood sample is withdrawn by removal of stopcock cap, which increases the risk of acquired blood stream infection during sampling. Moreover, the unused blood is wasted in the case of conventional sampling method. Closed blood sampling system is a solution to these problems. Furthermore, the National Center for Biotechnology Information (NCBI) article suggests that the hemoglobin and hematocrit counts shows minimal fluctuations when blood sampling is done by closed blood sampling system.

Closed blood sampling systems are also used in pediatric patients, owing to easy implementation, low cost, and significant reduction in blood loss. The patients in the intensive care units (ICU) receive blood transfusion to treat low hemoglobin levels in patients with critical illness. However, improper blood transfusion methods are mostly associated with increased risk of morbidity and mortality. Various government regulatory organizations have proposed guidelines to decrease the use of blood transfusions. For instance, the Canadian Medical Association (CMA) released guidelines in 2008 in their Canadian Medical Association Journal (CMAL), which was published in January 2008, to minimize the use of blood transfusion in critically ill patients and closed blood sampling systems would be a method for complying with these regulations.

Closed Blood Sampling System Market - Regional Analysis

On the basis of region, closed blood sampling systems market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. North America holds dominant position in closed blood sampling system market, followed by Asia Pacific. Increasing demand for blood transfusions, owing to the increasing number of surgery or injury cases is driving growth of closed blood sampling system market in North America. For instance, according to the American National Red Cross, a humanitarian organization, around 21 million blood components are transfused every year in the U.S.

Increasing demand for closed blood sampling systems with the establishment of new hospitals, specialty clinics, and blood banks, and increasing demand for the usage of blood components, owing to the increasing number of blood transfusion procedures is fueling growth of closed blood sampling systems market in Asia Pacific. For instance, according to the National AIDS Control Organization (NACO) 2014 data findings, demand for blood and blood components in India is around 1% of the total population, which is around 12 million blood units (1% of 1.2 billion populations). Moreover, according to the Department of Control (DAC), India: 2013, the annual requirement of blood was estimated to be 80 lakh units of blood between 2012 and 2013.

Closed Blood Sampling System Market Competitive Landscape

Some of the key players operating in the closed blood sampling system market include Edwards Lifesciences Crop, ICU Medical, Inc., Smiths Medical, CardioMed Supplies Inc., Argon Medical Devices, Inc., Utah Medical Products, Inc., fannin Ltd., Velano Vascular, Inc., Ashcon International Inc., and Merit Medical Systems, Inc. Key players in the market are focusing on organic growth strategies, in order to enhance its market share and retain its competence in the market. For instance, in January 2016, Velano Vascular, Inc., a medical device company that manufactures needle-free, vascular device for blood collection received the U.S. FDA approval for its updated version of needle-free blood draw device. The new Velano device is designed to reduce blood draw related anxiety and discomfort in patients and also provides a safer work environment for healthcare professionals.

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Closed Blood Sampling System Market Taxonomy:

By Product Type:

• Blood Sampling System
• Blood Sampling Accessories

By Application:

• Diagnostic
• Treatment

By End Users:

• Hospitals and Nursing Homes
• Blood Banks
• Surgical Clinics
• Diagnostic Centers
• Research and Academic Organizations
• Others

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Drug Discovery Market - Global Industry Insights, Trends, and Opportunity Analysis, 2018-2026

Drug Discovery Market

Advancements in the field of biotechnology and pharmaceuticals, in order to identify active ingredients in the form of drugs through drug discovery process, is gradually gaining pace in the market. This drug discovery process involves screening of chemical libraries, identification of the active ingredients for a natural remedy or by serendipitous discovery. Emergence of new diseases, which include viral or infectious diseases leads to high demand for drug discovery for these conditions. However, development of drugs is complex, costly, and risky process.

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The objective of drug discovery is to recognize the investigational drug success rates by stages, pre-clinical studies, investigational new drug application-Phase I, Phase II, Phase III studies, new drug application, and phase IV studies. The success during drug discovery process is very low, as according to data published by Journal Research & Review 2016. According to the data, it was estimated that among 5,000-10,000 drug discovery screening, only 250 enter the preclinical testing and 5 enter the clinical testing and only 1 drug is approved by the regulatory body, which takes roughly 5-10 years.

Furthermore, according to the same source, drug discovery process takes around 5-10 years for the complete drug discovery, development, and introduction in the market, which costs around US$1.7 Bn for complete process to undergo successfully.

Drug Discovery Market Dynamics:

A patent cliff provides an opportunity for manufactures to collaborate and participate in current drug discovery model to sustain in the market. Manufacturers such as, Eli Lilly, Pfizer, Takeda, Bristol-Myers Squibb and Gilead lost their patent in 2017, with some of their respective big sellers that cover a range of indications such as multiple sclerosis, HIV, erectile dysfunction, and cancer. Such patent loss forces companies to introduce innovative products to retain their revenues and increase their revenue. After patent expiration, generic manufacturers enter the market and provide drugs that are equivalent to the innovator’s drugs, however, at a significantly lower price. Therefore, manufacturers are focusing on developing new and innovative products to sustain in the competitive market.

Increasing prevalence of wide range of disease such as cancer, cardiovascular, and CNS-related disorders with patent expiration of blockbuster drugs are some of the driving factors for growth of the drug discovery market. According to the World Cancer Research Fund International, 2015, an estimated 124,000 new cases of myeloma were diagnosed globally in 2015, which accounted for 0.8% of the total cancer cases. The mortality rate of the disease is around 0.9% of all cancer deaths, accounting for 87,000 deaths each year. Therefore, key manufacturers are actively involved in the development of immunotherapies targeting B-cell maturation antigen (BCMA) such as chimeric antigen receptor T-cells (CAR-T cells), bispecific antibodies, and antibody drug conjugates (ADCs). For instance, in 2012, the University of Pennsylvania and Novartis entered into an exclusive global research and licensing agreement to study and commercialize novel cellular immunotherapies using chimeric antigen receptor (CAR) technologies. In 2016, Juno Therapeutics entered into a licensing agreement with Memorial Sloan Kettering Cancer Center (MSKCC) and Eureka Therapeutics for developing CAR T cell immunotherapy against multiple novel targets.

Drug Discovery Market - Regional Insights:

North America accounted for the largest share in the drug discovery market, followed by Europe market in 2016. This is attributed to presence of a large number of top pharmaceutical and biotech companies, Pfizer, Inc., Merck, GlaxoSmithKline, Novartis and many more in this region. Furthermore, favorable regulatory framework and regulatory policies for investors for research and development of new drugs augments growth of drug discovery market in the region. The US Regulatory Framework provides for 3 distinct regulatory approval pathways outlined in the Food, Drug, and Cosmetics Act (FD&C Act), which allows the registration of novel compounds, new drugs containing similar ingredients to previously approved products and generic copies of previously approved products in systematic way helping the pharmaceutical companies to gain approval over the new drugs.

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Furthermore, several pharmaceutical and biotechnological companies are focusing on expanding in Asia Pacific region, to maximize on their R&D efforts as the Asia Pacific region provides better access to patients for clinical trials, with lower cost operational efficiencies. Increasing government investment in research and development is also expected to foster growth of drug discovery in Asia Pacific region. For instance, in March 2011, the Korean government participated in the Korean National Enterprise for Clinical Trials, to advance the country’s infrastructure for conducting clinical trials, which could fasten the process of clinical trials, in turn supporting the growth of drug discovery market.

Drug Discovery Market - Competitive Analysis:

• Pfizer Inc.
• GlaxoSmithKline LLC
• Merck & Co. Inc.
• Agilent Technologies Inc.
• Eli Lilly and Company
• F Hoffmann-La Roche Ltd
• Bayer AG
• Abbott Laboratories Inc.
• AstraZeneca PLC
• Shimadzu Corp.

Drug Discovery Market Taxonomy:

By Drug Type:

• Small Molecule Drug
• Biologics Drug

By Technology:

• High Throughput Screening
• Biochips
• Bioinformatics
• Pharmacogenomics and Pharmacogenetics
• Combinatorial Chemistry
• Nanotechnology
• Spectroscopy
• Metabolomics
• Other Technologies

By Services:

• Drug Metabolism and Pharmacokinetics (DMPK) Services
• Pharmaceutical Services
• Chemical Services
• Biological Services

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Also, Coherent Market Insights has a proprietary database of pipeline biologics and biosimilars, called PHASE-XS. This database provides analytical data in addition to the clinical information of ongoing trials for biologics and biosimilars. An amalgamation of more than 30 parameters, PHASE-XS helps biotechnology and pharmaceutical companies to analyze the market trend, competition, and market potential. For more information or to access this database, kindly click on the below link or contact at sales@coherentmarketinsights.com

https://www.coherentmarketinsights.com/phase-xs/

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Stethoscope Market - Global Industry Insights, Trends, Outlook 2018-2026

Stethoscope Market

Stethoscope is an acoustic medical device used for auscultation based physical examination of an animal or humans. The resonator placed beneath the small disc at one end amplifies sound of lungs, heart, esophagus or fetal heart rate. Stethoscope is a fundamental component of physical examination for a healthcare profession. Major drivers for growth of the stethoscope market are increasing incidence of cardiovascular disease, rising number of healthcare professionals, and improving healthcare facilities. Moreover, market players are introducing more user friendly technologically advanced products with Bluetooth connectivity or wireless digital stethoscope, which is expected to boost growth of the stethoscope market.

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Stethoscope Market Drivers:

Increasing product launches by key players with advanced technologies is expected to aid in growth of the global stethoscope market during the forecast period. For instance, in March 2018, a research team developed an open-source, clinically validated template for a 3D printed stethoscope for application in the areas that have limited access to medical supplies. Moreover, in April 2018, Steth IO launched digital stethoscope named Steth IO. The product is built directly into the protective case of the physician’s iphone. It runs on an app that allows visualization of heart or lung sounds directly on the phone’s screen, when held against patient’s chest. Furthermore, it enables physician to store the records in the app, which can be shared in case of a second opinion. Steth IO received FDA approval in 2016. In 2015, Eko received US FDA clearance to launch Eko Core, a next generation digital stethoscope.

In January 2018, M3DICINE Inc., a designer of intelligent medical devices, launched Stethee, the first Artificially Intelligent (AI)-enabled stethoscope system. The Stethee system include three products, which are Stethee Pro for medical and healthcare professionals, Stethee Vet for veterinarians and animal professionals, and Stethee Edu developed as educational and research tool. All these product launches are technologically advanced versions of conventional stethoscope and is expected to increase choices for the users.

High incidence of heart diseases is expected to be another factor for growth of the market. Stethoscope is an important component that aids clinicians in diagnosis of cardiovascular disease, which affects 1 in 4 people in US, according to Center for Disease Control and Prevention (CDC). According to American Heart Association, 2018, cardiovascular disease is the leading cause of death, globally. Furthermore, according to same source, it is estimated that everyday 2,300 people in the U.S. die of cardiovascular disease, which means on an average 1 death per 38 seconds. Moreover, increasing geriatric population, who are more prone to diseases rising the demand for frequent diagnosis under several medical conditions expected to propel the growth of stethoscope market. For instance, the global geriatric population is estimated to be 962 million, which comprises 13% of the total global population, in 2017 as per United Nation Organization. According to their forecast, this geriatric population worldwide is expected to be reach 1.4 billion in 2030 and 2.1 billion by 2050.

Stethoscope Market - Regional Analysis:

Based on geography, the stethoscope market has been segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. North America holds the dominant position in stethoscope market, owing to the increasing number of new product launches by the key players in U.S. North America market is followed by Europe attributed to the increasing number of hospitals and clinics and medical professionals. For instance, according to Eurostat, around 1.8 million physicians are working in the European Union, while the comparison between 2005 and 2015 showed that the number of medical doctors graduating per 100,000 inhabitants rose to 12.4 medical doctors in 2015 as compared to 2005 (9.5 medical doctors per 100,00 inhabitants).

Stethoscope Market – Competitive Lanscape:

• 3M Company
• Cardionics, Inc.
• Heine Optotechnik GmbH & Co.
• KG
• American Diagnostics Corp
• Medline Industries, Inc.
• Welch Allyn, Inc.
• GF Health Products, Inc.
• Rudolf Riester GmbH

Stethoscope Market Taxonomy:

By Product Type

• Dual Head Stethoscope
• Single Head Stethoscope
• Triple Head Stethoscope

By Application

• Humans
• Veterinary

By End Users

• Hospitals
• Clinics
• Academic & Institutes
• Homecare settings
• Others

By Region

• North America
• Europe
• Latin America
• Middle East
• Asia Pacific
• Africa

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Mechanical Ventilators Market - Global Industry Insights, Trends, Outlook 2018-2026

Mechanical Ventilators Market

Mechanical ventilation is a process that helps patients breathe by assisting inhalation of oxygen and exhalation of carbon dioxide through lungs with the help of specialized machines known as mechanical ventilators, respirators or breathing machines. These ventilators are connected to the patients by placing it into the mouth or nose and goes down into the windpipe, whereas some patients undergo surgery to have a hole through which the ventilation pipe can be passed. Mechanical ventilation is a life support treatment that assists the patient with critical health conditions to breathe just enough for the survival. Patients on mechanical ventilators are monitored in an intensive care unit (ICU) settings, which is hooked up to a monitor that measures respiratory rate, blood pressure, heart rate, oxygen saturation, and other critical parameters required for the survival of the patients. The mechanical ventilators does not heal the patient, however, it allows the patient to be stable during the medications and treatments. Healthcare professionals always try to get rid of patients from being monitored on ventilators, as there is a lot of risk involved in it. The process of getting a patient off from the ventilator is termed as weaning.

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Market Dynamics:

Rising number of admissions in the intensive care units for continuous monitoring of critical and severely ill patients is expected to boost the market growth. For instance, according to the American Association for the Surgery of Trauma, in 2011, 790,257 hospitalizations involving mechanical ventilation were reported. In 2015, the Centers for Disease Control & Prevention (CDC) stated that acute injury and chronic obstructive pulmonary diseases (COPD) are major disorders responsible for ICU admissions. According to the results of Burden of Obstructive Lung Disease (BOLD) 2014, a multinational study to find prevalence of COPD reported that the prevalence of COPD in Germany was 5.9%, 19.1% in South Africa, and 11.9% in Mexico City of the total country’s population. Moreover, the rise in geriatric population suffering from slow recovery process of various chronic diseases is expected to augment growth of the global mechanical ventilators market. For instance, according to the National Council of Aging, in 2014, around 80% of the adults in the U.S. suffer from at least one chronic condition. The rising demand for emergency treatment of prolonged illness is also expected to drive growth of global mechanical ventilators market. However, high costs of the devices and shrinking profit margins of the major market players are expected to hinder the market growth.

Regional Insights:

On the basis of region, the global mechanical ventilators market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global mechanical ventilators market and is expected to retain its dominance over the forecast period, owing to rising number of patient admissions in emergency wards due to critical health conditions and severe injuries that require external support for survival. For instance, according to the Society of Critical Care Medicine, in 2015, over 5.7 million patients were admitted to the intensive care units (ICU) in the U.S. for intensive or invasive monitoring, airway support, stabilization of chronic medical problems, and breathing disorders.

Furthermore, Asia Pacific is expected to witness a significant growth in the market, owing to developments in healthcare infrastructure, rising awareness among patients and manufacturers, and development of innovative and cost efficient solutions. For instance, in September 2017, the department of Neurology at the All India Institute of Medical Sciences (AIIMS) developed a portable life supporting ventilator that is 450 times smaller than the conventional counterparts and multiple times cheaper than the price of normal mechanical ventilators.

Competitive Insights:

The key players operating in the global mechanical ventilators market include Becton, Dickinson & Company, Mindray Medical International Limited, Getinge Group, GE Healthcare, Hamilton Medical AG, Medtronic Plc, Smiths Medical, Draeger Medical GmbH, Philips Respironics, Maquet Medical Systems GmbH, and others. Market players are focused towards providing technologically advanced products to sustain their presence in the market. For instance, in 2016, Maquet Medical Systems introduced two new ventilators named SERVO-U and SERVO-n that provides user-friendly interface to the clinicians dedicated to neonatal intensive care solution.

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Market Taxonomy:

On the basis of product type, the global mechanical ventilators market is segmented into:

• Critical Care Mechanical Ventilators
• Neotonal Intensive Care Mechanical Ventilators
• Portable Mechanical Ventilators
• Transport Mechanical Ventilators

On the basis of modality, the global mechanical ventilators market is segmented into:

• Invasive
• Non-Invasive

On the basis of end user, the global mechanical ventilators market is segmented into:

• Hospitals
• Trauma Centers
• Home Healthcare
• Others

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Colposcope Market - Size, Share, Trends, Outlook and Opportunity Analysis 2018-2026

Colposcope Market

Colposcopy is a diagnostic method useful for the diagnosis and evaluation of cervical intraepithelial neoplasia and preclinical invasive cancer. It allows magnified visualization of the site where cervical carcinogenesis occurs. Colposcope is a magnifying instrument used in the diagnosis of cervical cancer or vaginal cancer. Colposcope can also be used to take small tissue sections for further diagnosis via biopsy. Colposcopy is a diagnostic method usually performed after the Pap smear test. Increasing prevalence of cervical and vaginal cancer is expected to boost demand for colposcopy, in turn, boosting growth of the Colposcope market. Moreover, increasing number of government initiatives such as screening programmes to increase awareness about cancer is also expected to fuel growth of the colposcope market. Availability of alternative methods for detection of cervical and vaginal cancer such as Pap smear test and HPV test hinder growth of the colposcope market. The high cost of colposcope devices is also a factor expected to hinder market growth.

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Colposcope Market Driver:

In several emerging economies in Africa and Asia, record high risk of cervical cancer among women, and largely lack detection programmes and efficient screening programmes. In these regions, governmental initiatives for cervical cancer screening and increasing healthcare providers with skills in cervical cancer prevention are important components of global cervical cancer control initiatives which is leading to growth of the colposcope market. According to Centers for Disease Control and Prevention (CDC), 2014 data, 4115 women died due to cervical cancer in the U.S. owing to the growing death rate due to cancer, governments of developed economies are continuously focusing on increasing awareness among the populace about screening programmes and make them accessible, to decrease the rate of mortality caused by genital cancer. For instance, Cancer Institute NSW of Australia, state-wide government-supported cancer control agency, renewed National Cervical Screening Program in 2017, which aims to reduce incidence and mortality caused by cervical cancer by organizing screening programmes. Moreover, according to British Journal of Cancer, cervical diagnostic conducted in 2007- 2013 shows 67% reduction in stage 1A and 95% in stage 3 as compare to 1988 in women of age group 35-64 year, in England. These can be attributed to successful comprehensive screening program that incorporates nationwide education campaign, effective screening methods, including Papanicolaou (Pap) smear and human papillomavirus (HPV) testing, and advanced diagnostic and treatment technologies. Moreover, 7 UN agencies established a new 5-year Joint Programme to prevent and control cervical cancer.

The colposcope market is expected to show potential growth during the forecast period due to rising prevalence of cervical and vaginal cancer, globally. This in turn, is expected to increase the demand for colposcope for diagnostics. For instance, cervical cancer is the fourth most common cancer worldwide among women, with 528,000 new cases and 266,000 deaths in 2012, according to International Agency for Research on Cancer (IARC). Furthermore, advancements in technology also plays an important role in boosting growth of the colposcope market. Currently high cost of these devices and lack of skilled professional are restraints for this colposcope market. Increasing research and development by various manufacturers, to create cost-effective devices, is further expected to propel growth of the market. For instance, in 2017, Duke University in collaboration with 3^rd Stone Design, Inc., developed a beta prototype of the Pocket Colposcope, which is significantly less expensive, smaller in size and lighter than traditional clinical colposcope devices.

Colposcope Market – Regional Analysis:

The colposcope market is geographically segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America holds a prominent position in the colposcope market, attributed to the presence of major players and high adoption of medical technology in the region. Asia Pacific is expected to hold the fastest-growing market for colposcope due to high prevalence of cervical cancer in low and middle income countries. According to National Center for Biotechnology Information, in 2014, 122,844 women are diagnosed with cervical cancer every year in India, whereas 432.2 million women aged 15 years or above are at risk of developing cancer. This in turn, is expected to favor growth of colposcope market.

Colposcope Market – Competitors:

Major players operating in the colposcope market include,

• DySIS
• CooperSurgical
• Atmos
• Olympus
• Karl Kaps
• McKesson
• Danaher
• Carl Zeiss

Colposcope Market Taxonomy:

By Product Type:

• Optical Colposcope
• Digital Colposcope

By Portability:

• Trolley Mounted
• Chair Mounted
• Handheld

By End Users:

• Hospitals
• Clinics
• Diagnostic Centers
• Others

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