Blood Processing Devices and Consumables Market Future Opportunities 2019

Blood Processing Devices and Consumables Market Overview:

Transparency Market Research has published a new report on the global blood processing devices and consumables market. The report, titled ‘Blood Processing Devices and Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,’ states that the global market is predicted to progress from US$27.27 bn in 2012 to US$49.16 bn by 2019. According to the report, the global blood processing devices and consumables market is expected to expand at an 8.90% CAGR from 2013 to 2019. Factors such as automation of devices in blood processing, the rising government spending, the rising number of surgical procedures, and favorable reimbursement policies are expected to propel the global blood processing devices and consumables market in the years to come.

Global Blood Processing Devices and Consumables Market: Drivers and Restraints

Normal blood supply can be affected by infectious illnesses such as hepatitis and acquired immunodeficiency syndrome (AIDS). Over the past few years, there has been an increase in complex surgeries such as orthopedic surgeries and open heart surgeries. A rise in infections being transmitted via blood donation is a point of concern for the global blood industry. However, manufacturers are engaged in developing advanced products to collect, store, process, and deliver blood components for surgeries. This is expected to benefit the global blood processing devices and consumables market in the near future.

The global blood processing devices and consumables market is segmented on the basis of region, device, and consumables. By consumables, the global blood processing devices and consumables market is classified into blood filters, blood administration sets, blood lancets, vials, test tube racks, microscopic slides, slide strainers, coagulation reagents, and blood grouping reagents.

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Blood bank refrigerators, blood bank freezers, blood warmers, blood grouping analyzers, blood cell processers, and hematocrit centrifuges are some of the popularly used blood processing devices. The growing demand for innovative blood processing devices is expected to propel the global blood processing devices and consumables market in the years to come.

Global Blood Processing Devices and Consumables Market: Key Segments

The global blood processing devices and consumables market is geographically distributed into Europe, Asia Pacific, North America, and Rest of the World regions. At present, the global blood processing devices and consumables market is dominated by North America, followed by Asia Pacific. The development of economies and favorable reimbursement policies are expected to help North America to maintain its dominance in the years to come. Going forward, Asia Pacific is predicted to display attractive growth opportunities due to the increasing population base.

Nowadays, governments of many nations are taking extra efforts to spend more money towards research and development of new drugs and medical devices. This is creating an impact on the growth of the global blood processing devices and consumables market.

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Global Blood Processing Devices and Consumables Market : key Players

Further, leading players such as Terumo BCT, Immucor, Haemonetics Corporation, Abbott Laboratories, Fresenius Kabi AG, and Bio-Rad Laboratories are concentrating on introducing new blood processing devices and consumables, thus contributing towards the market growth. Even though the global blood processing devices and consumables market is expected to face certain challenges, it is anticipated to benefit from developments in cell therapy.

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Peripheral Vascular Devices Market is Projected to Soar at a Value CAGR of 7.1% from 2018 to 2018

Peripheral Vascular Devices Market Overview:

Transparency Market Research has recently announced the publication of a research study that discusses the trends and dynamics governing the peripheral vascular devices market. The research report, titled “Peripheral Vascular Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018,” has been compiled using primary and secondary research methodologies. The research report states that the global peripheral vascular devices market was valued at US$4.8 bn in 2011 and is expected to reach US$7.8 bn by 2018, rising at a CAGR of 7.1% from 2012 and 2018.

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Global Peripheral Vascular Devices Market: Drivers and Restraints

Peripheral vascular devices are used for treating peripheral vascular disease (PVD), which is commonly seen amongst the old people. This condition is caused due to the narrowing of arteries outside the heart and brain due to fatty deposits. The narrowing is generally a result of arteriosclerosis due to plaque building up inside a vessel. The two types of PVDs are functional PVD and organic PVD. Functional PVDs are caused due to smoking, cold temperatures, operating vibrating machinery or tools, and stress. On the other hand, organic PVDs are a result of high blood pressure, diabetes, high cholesterol, and smoking. Statistics show about 5% of the population that has crossed the 50 years of age suffers from PVD.

The rising incidence of peripheral vascular diseases and growing population across the globe are expected to play a pivotal part in the progress of this market. The latter factor is expected to result in growing pool of geriatrics, which is anticipated to drive the global peripheral vascular devices market in the coming years. Furthermore, the growing awareness amongst patients and the ability to spend on healthcare will also fuel this market in the near future.

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Global Peripheral Vascular Devices Market: Key Segments

The global peripheral vascular devices market is segmented on the basis of devices and geography. The devices available in this market are peripheral transluminal angioplasty (PTA) balloon catheters, peripheral vascular stents, PTA guidewires, chronic total occlusion (CTO) devices, atherectomy devices, aortic stents, embolic protection devices, synthetic surgical grafts, and inferior vena cava filters. Out of all the types of devices, the embolic protection devices segment is expected to grow at a stupendous pace in the coming few years.

Presently, North America makes the largest contribution to the global peripheral vascular devices market. However, an estimation presented by researchers indicates that the Asia Pacific peripheral vascular devices market will expand at an exceptional pace due to changing demographic situations and stabilizing economies. Furthermore, the exponential rise in the population will also propel this market in the aforementioned region.

Global Peripheral Vascular Devices Market: Key Players

Some of the top companies operating in the overall market areAbbott Laboratories, Boston Scientific Corporation, Angioscore, Inc., Cook Group, Inc., C.R. Bard Inc., Cordis Covidien plc, Medtronic, Edward Lifesciences Corporation, Volcano Corporation, St. Jude Medical, and others. The research report profiles these players in order to explain the competitive landscape present in the global market. Furthermore, the researchers have also explained the ways in which investments and regulatory framework are shaping the growth of this market.

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Medical Devices Outsourcing Market is Projected to be Worth US$40.8 Bn by 2018

Global Medical Devices Outsourcing Market : Overview

The global medical devices outsourcing market is highly fragmented due to the presence of a large number of local and international players, finds a new report by Transparency Market Research. The top four companies that predominantly outsource product manufacturing and services to small and specialized service providers held only 28% of the market in 2011. These are Johnson and Johnson, GE Healthcare, Medtronic, and Baxter International.

The global medical devices outsourcing market is expected to be worth US$40.8 bn by 2018, says TMR. On the basis of application, class II devices account for the largest market share due to moderate risks and minimal regulatory requirements. “Business alliances and partnerships are key strategies adopted by top companies for business growth,” says a TMR analyst.

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Increased focused on research and development is one of the key growth models that companies receiving outsourced services in the global medical devices outsourcing market are employing for business growth. For instance, the research and development of Creganna-Tactx is focused on developing products with newer component and to develop technologies for minimally and less invasive medical delivery systems.

Need to Reduce Production Cost for Competitive Reasons Fuels Market Growth

A TMR analyst points out, “The ever-increasing demand for quality healthcare is one of the key factors driving the growth of the global medical devices outsourcing market.” At present, the increasing prevalence of chronic diseases is leading to a rising demand for early disease detection for improved disease management. The quality of healthcare delivered depends on the quality of diagnostic devices. This is forcing device manufacturers to outsource product development to specialized third-party product manufacturers to stay ahead in the competitive healthcare industry.

Product outsourcing helps reduce production cost by 10-15% thus allowing companies to survive competition, which is another major factor driving the global medical devices outsourcing market. Today, almost all medical devices are integrated with IT solutions for operational purposes. For example, software for patient monitoring devices that was initially developed in-house is now outsourced to domain experts such as HCL, Persistent Systems, Wipro, and Amdocs.

Outsourcing of product manufacture and services help maximize revenue by means of reducing time-to-market, which is another key factor driving the growth of the global medical devices outsourcing market. This is because a significant amount of time is spent receiving approvals from statutory bodies in the manufacture of medical devices. This time can be reduced by leveraging outsourcing service providers such as Oracle, SAP, Infosys, and Patni that offer process control services for acquiring approvals from statutory bodies. Moreover, the expertise of these providers in developing the relevant application software reduces overall time of production.

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Demand for Quality Certifications of Leading Companies Presents Opportunities for Local Service Providers in Asia

“Increasing shift towards quality certifications among Asian service providers and medical device manufacturers is opening growth opportunities for top companies in the global medical devices outsourcing market,” says a TMR analyst. The growing demand for medical devices in the Asian region is attracting top-notch players such as Johnson &Johnson and Boston Scientific to this region. To leverage this, an increasing number of local device manufacturers and service providers are streamlining their processes as per the ISO and requirements of other standardization organizations to attract global players.

The information presented in this review is based on a Transparency Market Research report, titled “Medical Devices Outsourcing Market - Global Industry Size, Market Share, Trends, Analysis, And Forecast 2012 - 2018.”

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Prostate Cancer Minimally Invasive Surgery Market to Report a CAGR of 11.9% Between 2018 and 2016

Prostate Cancer Minimally Invasive Surgery Market Overview:

Prostate cancer is reportedly the second most fatal type of cancer among men after lung cancer. In 2010 alone over 1.9 million people were diagnosed with prostate cancer. The minimally invasive prostate cancer market in North America and Europe is primarily driven by the rising incidence of prostate cancer, states a report by Transparency Market Research. The report is titled “Prostate Cancer Minimally Invasive Surgery Market in North America and Europe (2011 – 2016)”.According to the report, the North America and Europe prostate cancer minimally invasive surgery market was valued at US$14.2 billion in 2011 and this market is estimated to grow at a strong CAGR of 11.9% from 2011 to 2016. If the CAGR holds true, the regional prostate cancer minimally invasive surgery market will be worth US$24.9 billion by 2016.

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Global Prostate Cancer Minimally Invasive Surgery Market: Drivers and Restraints

The report states that Whites and African Americans are most affected by prostate cancer, with factors such as heredity, old age, obesity, high inclusion of red meat in diet, infection of the prostate gland, and smoking identified as causes of prostate cancer. Prostate cancer is categorized into four stages depending upon its severity: stage I, stage II, stage III, and stage IV. The diagnosis of prostate cancer includes a number of methods such as lymph node biopsy, CT scan and MRI, bone scan, PET and SPECT scans, prostate biopsy, digital rectal exam (DRE), prostascint monoclonal antibody scan, prostate-specific antigen (PSA) blood test, and ultrasound.

By technique, the prostate cancer minimally invasive surgery market is divided into robotic surgery, brachytherapy, cryosurgery, and laparoscopic surgery. Robotic surgery has revolutionized the prostate cancer treatment scenario and this segment led the overall market, being identified as the most significant innovation of the decade in the field. The adoption of surgical robots in minimally invasive surgeries has increased in Europe and North America owing to the many advantages they present. Surgical robots enable increased control during surgical procedures, speedier recovery time and therefore shorter hospital stay, dexterity to surgeons, and reduce the risk of side effects of prostate cancer surgery such as impotency. The one factor that hinders the growth of this segment is its high cost. Today, the price of a surgical robot is nearly US$1.5 million.

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Global Prostate Cancer Minimally Invasive Surgery Market: Key Segments

In terms of surgical devices, the market for prostate cancer minimally invasive surgery is segmented into monitoring and visualizing devices, endosurgical equipment, lasers, and others. Among these, the segment of monitoring and visualizing devices dominated the market in North America and Europe.The prostate cancer minimally invasive surgery market is stimulated by the rise in elderly male populations in both North America and Europe, availability of innovative treatment options, and the massive advantage that this procedure has over other traditional methods. However, high risk of side effects, lack of technological knowledge in some areas, and inefficiency of surgeons in treating advanced-stage prostate cancer are expected to hinder the growth of the market.

Global Prostate Cancer Minimally Invasive Surgery Market: Key Players

Some of the prominent players in the prostate cancer minimally invasive surgery market are Carefusion Corporation, Boston Scientific Corporation, Ethicon Endo Surgery, Covidien, and Intuitive Surgical. These companies held more than 80% of the market in North America and Europe in 2010.

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Brachytherapy Devices Market is Anticipated to Reach a Value of US$383.7 bn by 2022

The global brachytherapy devices market has numerous players operating both at the global and local level. This makes the market highly fragmented as well as competitive. To establish a stronghold in such a tough market, keen companies are leveraging multi-pronged strategies. One of them is carefully-considered collaborations to expand into new regions and harness greater resources. Such a trend is expected to make the market consolidated in the near future. Another key strategy of players is product development. They are seen increasing allocation on research and development to come up with more effective products.

Some of the prominent participants in the global market for brachytherapy devices are Varian Medical Systems, Elekta, CR Bard, Eckert and Zieglar BEBIG, and Theragenics.

The market for brachytherapy devices is expected to clock a 4.7% CAGR from 2017 to 2022, predicts a report by Transparency Market Research. Expanding at this pace, the market is projected to attain a value of US$383.7 mn by 2022-end from US$313 mn in 2017.

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In terms of techniques, the market for brachytherapy devices worldwide can be broadly split into high dose rate and low dose rate. Among them, the segment of high dose rate accounts for a dominant share in the market.

Regionally, Latin America, North America, Europe, Asia Pacific, Japan, Asia Pacific except Japan, and the Middle East and Africa are some the prominent segments that have been studied in the TMR report. Of these, North America is a leading market, which going forward will retain its position by expanding at a CAGR of 4.7% over the course of the forecast period starting from 2017 and ending in 2022.

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brachytherapy devices marketAbility to Provide Precise, Highly Localized Doses Drives Demand for Brachytherapy Devices

The main USP of brachytherapy devices is that they provide accurate, highly localized doses of radiation. As a result, it steals a march over other radiation therapies that affect adjacent areas too. Brachytherapy devices are typically used in high precision treatment of small tumors, mostly found in early stages. Besides, cancer patients treated with brachytherapy devices show limited possibility of recurrence of the condition. In addition, they help to bring down both time and cost of treatment. All the aforementioned benefits of brachytherapy devices is fuelling their demand.

“Increasing knowledge about the different advantages of brachytherapy devices among healthcare practitioners would work in favor of the market in the next few years,” explains the lead analyst of the TMR report. He adds, “In the next couple of years, the market could benefit from the swift progress in the field of image guided procedures and radiation dose delivery.” Growing range of products with 3D treatment planning technology to facilitate accurate treatment is also expected to stoke growth in the market.

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Medical Tourism Benefits Market

Soaring popularity of medical tourism, in which patients travel to other regions for better or cost-effective treatment, or both, is predicted to catalyze growth in the market too, along with emergence of innovative products, namely electronic brachytherapy devices.

The growth rate in the global market for brachytherapy devices will however be stymied on account of upcoming external radiation treatment methodologies. Concerns pertaining to procurement, storage, and handling of radiation sources are also posing a challenge to market.

This review is based on the findings of a TMR report, titled, “Brachytherapy Devices Market (Technique - High Dose Rate and Low Dose Rate; End User - Hospitals and Oncology Treatment Centers; Application - Cervical Cancer, Prostate Cancer, Breast Cancer, and Skin Cancer) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2022.”

Coagulation Testing Market is Projected to Expand at a CAGR of 9% from 2017 to 2025

The global market for coagulation testing displays a moderately competitive scenario with regards to the market players. The leading market players have a proven history of success in the production, manufacture, and sale of coagulation testing devices, and hence, it is impossible to challenge the integrity and strongholds of these players. Furthermore, these market players have been famous for their constant efforts towards the development of better products and services. It has come to light that the leading market players make successive investments in research and development in order to keep their growth prospects brighter than the rest of the players.

The smaller market players have also acquired a decent market share but it is substantially smaller than the market share captured by the leading players. Some of the other reasons behind the success of the leading market players in the global coagulation testing market are better distribution channels, production efficiency, market knowledge, and consumer loyalty. The medium-sized players are aiming to come in the zone of large market players by tying up with large healthcare centers and hospitals. Some of the key players in the global market for coagulation testing are F. Hoffmann-La Roche Ltd., Siemens Healthineers, Abbott Laboratories, SYSMEX CORPORATION, and Helena Laboratories, Inc. These market players have a healthy graph of growth and they have learned from years of experience in the market for coagulation testing.

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The global market for coagulation testing is projected to accumulate net revenues worth US$3,715.8 mn by the end of 2025 while the global market had a net worth of US$1,730 mn in 2016. Based on these projections, it can also be estimated that the global market for coagulation testing would expand at a CAGR of 9% over 2017 to 2025.

coagulation testing marketHigh Incidence of Blood-Related Disorders to Drive Demand

Coagulation testing is performed for a variety of reasons relating to both, excessive bleeding and clotting of blood. The formation of blood clots may seem like a minor problem, but it can magnify into major disorders and diseases that can affect the normal functioning of the body. Owing to the aforementioned factors, the demand within the global market for coagulation testing has been escalating over the past decade. Cardiovascular disorders are also a dire consequence of formation of clots in the arteries, and it is imperative to diagnose these clots in time to prevent severities. This has also driven demand within the global market for coagulation testing and has given a push to the growth of vendors. The treatment of several bleeding disorders also necessitates the use of coagulation testing, thus, creating growth spaces within the global coagulation testing market.

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Growth Opportunities in Asia Pacific

The demand within the market for coagulation testing is the highest in North America, majorly due to the detailed approach of the healthcare professionals in the region. Besides North America, Asia Pacific has also been attracting commendable demand for coagulation testing in recent times. This elevation in demand can be attributed to a range of factors including rising population, increasing investments in healthcare, and skill and expertise of the medical practitioners.

The review is based on TMR’s report titled “Coagulation Testing Market (Product - Instruments, Consumables; Test Type: PT, APTT, TT, and ACT; End User - Hospitals and Clinics, Diagnostic Laboratories, and Home Care Settings) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”.

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Insulin pumps Market to Attain a Value of US$9.50 Bn by 2025

A novel research report by Transparency Market Research (TMR) states that the global insulin pumps market is experiencing a high degree of competition between the leading players, including, Medtronic, Cellnovo Group SA, F. Hoffmann-La Roche Ltd., Animas Corporation (Johnson & Johnson), Tandem Diabetes Care, Inc., Insulet Corporation, Valeritas, Inc., Ypsomed AG, SOOIL Developments Co., Ltd, and Jiangsu Delfu Co., Ltd. Over the forthcoming years, these players are projected to focus aggressively on advancing their products portfolio in order to improve their profit margins, notes the research study.

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According to the research report, the global insulin pumps market reached a value of US$4.18 bn in 2016. Expanding at a CAGR of 9.80% over the period from 2017 to 2025 to offer an opportunity of US$9.50 bn by the end of the period of the forecast. Currently, the consumption of insulin pumps is comparatively higher than other products in this market, thanks to their easy availability. The increased efficiency of these pumps is also expected to fuel their demand in the years to come.

In terms of the geography, North America has surfaced as the dominant regional market for insulin pumps among all and is expected to retain the top position over the next few years. This supremacy can be attributed to the substantially high number of diabetic patients in this region, especially due to the high obesity rate among consumers. Amongst other regional markets, Europe and Asia Pacific are anticipated to register a steady rise in its market for insulin pumps over the period of the forecast, reports the study.

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Technological Advancements in Products to Boost Growth

“With the increasing prevalence of diabetes across the world, the market for insulin pumps has been gaining significant impetus across the world,” says a TMR analyst. The significant rise in the geriatric as well as the obese population base is aiding the number of diabetic patients substantially, which is influencing this market.

Over the coming years, the technological advancements in insulin pumps products are expected to boost the growth of this market considerably. The increasing disposable income of consumers, globally, enabling them to afford expensive medical and healthcare devices, is also expected to reflect positively on the sales of insulin pumps, states the research report.

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High Cost of Permanent Insulin pumps Procedures to Hamper Market

Although the future of the global market for insulin pumps looks bright, it may face obstacles in the coming years due to the high cost incurred into procuring and maintaining an insulin pump. The increasing number of counterfeit product may also hamper the growth of this market over the next few years, report the research study.

The review is based on a report by Transparency Market Research, titled “Insulin Pumps Market (Product - Insulin Pumps (Tethered Insulin Pumps and Disposable or Patch Insulin Pumps) and Insulin Pump Supplies & Accessories (Insulin Reservoirs or Cartridges and Infusion Set Insertion Devices); Distribution Channel - Hospital Pharmacy, Retail Pharmacy, Online Sales, and Diabetes Clinics or Centers) - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2017–2025.”