Global Geriatric Care Services Market to Reach US$850 bn by the end of 2019 due to Paucity of Nursing Homes in Developing Countries

The proportion of geriatric population amongst the total population continues to grow and is the single largest driver for the growing global geriatric care services market. Changing family structure in most developed countries has resulted in decrease in time family caregivers can provide. This factor has been crucial in developing and shaping of geriatric care services market. Furthermore, the industrial development and improved job opportunities in the emerging nations of Asia-Pacific have resulted into more people working away from home. This has further led to unavailability of family caregivers which is incentivizing formal care providers. Along with this a large fraction of geriatrics today wish to continue their professional lives but require moderate support from care services. The market in the region has begun developing and returns from geriatric care business in the region are expected to grow in the coming years. The global geriatric care services market was valued at USD 560.4 billion in 2012 and is expected to reach USD 850.0 billion by 2019, growing at a CAGR of 5.9% during the forecast period 2013 to 2019.

The global geriatric care services market is broadly categorized into home care services, adult daycare services, and institutional care services. The institutional care services market constituted the largest segment in the global geriatric care services market while home care services market is expected to witness fastest growth amongst all the segments during the forecast period 2013 to 2019. The freedom to stay at home and cost containment are the prime reasons which explain the emergence of home care services market in the overall geriatric care services market. This segment of market provides unique advantages such as less expensive, desired stay at home and more independence which is helping to gain traction in the steadily growing global geriatric care services market. The shortage of other available options such as nursing homes and assisted living communities in the developing regions is also propelling the growth of global geriatric home care services market.

In 2012, North America was the largest market for geriatric care services contributing to larger proportion of the global market followed by Europe region. These two regions are expected to maintain their leading positions in the global market during the forecast period from 2013 to 2019. Although the market for senior care services in the developed nations of North America and Europe is structured, it is yet in a developing phase. Moreover, the market is absolutely in budding stage in other parts of the world, particularly in countries such as China and India where the situation of elderly care is expected to become grave in the coming years. The market dynamics in China are more rapidly changing relative to India since it has more elderly population while India is still known to be a young country. China will be an attractive destination for the international industry players such as Home Instead Senior Care, Inc., as the government has decided to allow private investments in country’s elderly care services market.

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Brookdale Senior Living, Inc., Extendicare, Inc., Genesis HealthCare Corp., Gentiva Health Services, Inc., GGNSC Holdings, Home Instead Senior Care, Inc., Kindred Healthcare, Inc., Senior Care Centers of America, Skilled Healthcare Group, Inc., and Sunrise Senior Living, Inc. are some of the major companies operating in the global geriatric care services market.

Long Waiting Periods and Costly Treatments Compel Patients in Europe to Switch to Ambulatory Surgical and Emergency Center Services, finds TMR

With few companies presently operating and a large number of vendors expected to be enter in the next few years, the Europe ambulatory surgical and emergency center services market features a moderate level of competitive rivalry, reports a recent TMR report. The vast growth opportunities in the market can be understood from the fact that nearly 98% cataract surgeries and nearly 63% hernia repair surgeries are undertaken in ambulatory surgical units in the U.K. presently.

Only a few companies in the market, such as Community Health Systems, Inc., Healthway Medical Group, and Medical Facilities Corporation, have operations across more than four specialty segments that come under the purview of the market. As a result, these three companies, with operations across a larger number of these specialty segments, including ophthalmology, pain management, gastrointestinal ailments, orthopedic, and dermatology, presently command leading positions in the market. Other key vendors in the market are AmSurg Corporation, Eifelhoehen-Klinik AG, NovaMed, Inc., and Symbion, Inc.

Long Waiting Periods for Specialist Appointments and Reduced Treatment Costs Increase Preference to Single-day Surgeries

Long waiting periods for availing specialist appointments and undergoing complex surgeries are a key factor compelling patients to migrate from hospitals to day care centers or free standing units. Studies have indicated that across European countries such as the U.K., France, Norway, and Sweden, the issue of dearth of timely access to medical services is a key factor driving the demand for ambulatory surgical and emergency center services, which promise timely execution of surgeries. The vast reduction in costs of overall treatment possible with opting day surgery options is also a key factor driving the increased demand for ambulatory surgical centers in Europe.

Along with these factors, the vast technological advancements in the field of surgery, which have enabled the formation of smaller and fewer wound sites and faster recovery of patients, has also helped increase the number of surgeries that can be undertaken in outpatient settings. The vast rise in Europe’s geriatric population and increased life expectancy, leading to an increased number of patients with chronic health conditions, have also significantly boosted the requirement for ambulatory surgical and emergency center services in Europe.

Lack of Adequate Facilities and Reluctance to Day Surgeries to Hinder Market Growth

The lack of adequate facilities for ambulatory surgeries across a vast number of healthcare facilities in Europe is a key factor restraining the growth prospects of the Europe ambulatory surgical and emergency center services market. The presence of a large number of conventional hospital beds in countries like Austria compel patients to opt for conventional surgical procedures.

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Along with this, the reluctance shown by some people for day surgeries, owing to the belief that day surgeries could be unsafe and not very effective, is also a chief factor limiting the overall growth prospects of the Europe ambulatory surgical and emergency center services market. Similarly, reluctance by primary care teams to adopt day surgeries, owing to the belief that the transition would result in an increase in their workloads, is also restraining the market’s growth to a certain extent.

Orthopedic Surgeries to Take the Lead

Transparency Market Research states that the Europe ambulatory surgical and emergency center services market, which had a valuation of US$23.08 bn in 2015 in terms of revenue, is expected to rise to US$42.81 bn by 2020. The segment of orthopedic surgeries is presently the leading contributor to the market’s overall revenues, having a valuation of US$11.39 bn in 2015. It is also expected to a key contributor to the market’s revenue over the forecasting horizon. In terms of geography, the U.K. emerged as the top revenue generator in the overall market, with a revenue contribution of US$6.10 bn in 2015.

This review is based on a recent market research report published by Transparency Market Research, titled “Europe Ambulatory Surgical & Emergency Center Services Market – Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”

Global Biotechnology Market Shifts to High Gear due to Rising R&D by Healthcare Industries

According to a recent market research report published by Transparency Market Research, the global biotechnology market is estimated to expand at a CAGR of 11.60% during the period between 2012 and 2017. The report, titled “Global Biotechnology Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2010 – 2017”, projects the global biotechnology market to be worth US$414.5 bn by the end of 2017. The overall market stood at a valuation of US$216.5 bn in 2011.

The report points out that the growing demand for food and limited availability of nonrenewable natural resources will augment the growth of the global biotechnology market. The favorable regulatory scenario governing biotechnology R&D and applications will also boost the market. However, the report mentions that ethical issues associated with clinical trials, coupled with the long research and development lead time, might restrain the growth of the market during the forecast horizon. The global biotechnology market has a huge opportunity to grow with the emergence of biosimilars and increasing application of biotechnology in medical sciences. Cloning, stem cell technology, and nanotechnology are expected to define the future outlook of the market.

In terms of technology, the report segments the global biotechnology market into polymerase chain reaction technology, fermentation technology, tissue engineering and regeneration technology, nanobiotechnology, chromatography, cell-based assay, DNA sequencing technology, and others including fingerprinting and enzyme technology. The demand for nanobiotechnology is projected to rapidly increase in the near future.

On the basis of application, the global biotechnology market is broadly categorized into bioagriculture, biopharmacy, bioindustrial, and bioservices. In 2011, the biopharmaceuticals segment accounted for a 60% share in the market owing to an increase in government funding, widespread technological advancements, and availability of cheap labor in developing economies such as India, China, and Thailand. Increasing demand for food in developing countries is expected to boost the market. Bioseeds offer greater advantages compared to conventional seeds and hence will register exponential growth in demand during the forecast period. This will propel the growth of the bioagriculture segment. By 2018, the segment is projected to reach a valuation of US$27.46 bn.

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The report studies the global biotechnology market by segmenting it into four key regions: North America, Asia Pacific, Europe, and Rest of the World. North America leads the overall market thanks to the growing focus on renewable chemicals of countries in the region. In 2011, the region accounted for a 42% share in the market.

The report profiles some of the key players in the global biotechnology market such as Amgen Inc., Abbott Laboratories Inc., AstraZeneca plc, Celgene Corporation, Biogen Idec Inc., F. Hoffman La Roche Ltd, Genzyme Corporation, Genentech Inc., Gilead Sciences, Johnson & Johnson, GlaxoSmithKline plc, Pfizer Inc., Lonza Group Ltd., Novartis International AG, Merck & Co. Inc., Novo Nordisk A/S, and Sanofi. Insightful details about the key players, including their financial overview, business strategy, and recent developments, have been included in the report.

Pediculosis Treatment Market Dynamics and Opportunities Report by Transparency Market Research

Infestation of blood feeding Phthiraptera, an ectoparasitic insect (Louse) is referred as pediculosis. While sucking human blood, lice saliva enters human circulatory system which causes puritus. Lice can survive away from human host for 10 days post which it dies due to starvation. A mature female louse lay 3 to 6 eggs per day. Eggs (Nits) hatch in 8 to 10 days and reach maturity in 13 to 15 days. Mature lice live for 10 days.

Pediculosis spreads through close physical contact, combs, hats, cloths and linens. Scratching due to intense itching at the infected area is a prominent symptom of pediculosis infection. Nits on hair shafts and red lesions on infected site are some other symptoms of pediculosis. Treatment of pediculosis includes occlusive therapy, environmental eradication, and mechanical removal of lice. Based on the louse type, global pediculosis treatment market is segmented as follows:

  • Pediculosis Capitis
  • Pediculosis Pubis
  • Pediculosis Corporis

Pediculosis capitis infect head, pediculosis pubis infect pubic area and pediculosis corporis lay nits in seams and folds of cloths. Pediculosis pubis is also referred as crabs. Prevalence of pediculosis is perpetually increasing globally. In many parts of the U.S., pediculosis infection to head in school children has reached epidemic proportions. Thus, rising prevalence of pediculosis coupled with lack of awareness about personal hygiene are some of the drivers for growth of the global pediculosis treatment market. In addition, increased use of human lice in forensic studies is fueling the growth of the global pediculosis treatment market. While on the other hand, lack of diagnostic tools and condition specific treatment are some of the major factors that are restraining the growth of the global pediculosis treatment market. Based on the treatment, the global pediculosis market is segmented as follows:

  • Dimeticone Lotion
  • Malathion + Dimeticone Lotion
  • Isopropyl Alcohol
  • Suffocation-Based Pediculicide
  • Petrolatum
  • Mercuric Oxide Ointment
  • Others

Presently, North America and Europe are leading the global pediculosis treatment market. Factors such as, exceptionally developed healthcare infrastructure, higher healthcare spending, reimbursement coverage and government support are driving the pediculosis market in North America and Europe. Asia Pacific is a lucrative market for pediculosis treatment. Factors such as rapidly developing healthcare infrastructure on the grounds of growing medical tourism industry, increasing awareness about pediculosis and related treatments, and rising literacy rate are fueling the growth of pediculosis treatment market in Asia Pacific region. India and China account for the largest population pool in the world. Therefore, India and China are anticipated to show fastest growth rate in the forecast period.

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In addition to India and China, Japan is also expected to grow at significant growth rate owing to increased focus of Japanese government on improving healthcare facilities in the country. Countries namely, Brazil, Mexico and Argentina in Rest of the World (RoW) are expected to show faster growth rate than rest of the countries in this region owing to availability of well structured regulatory framework and higher rate of awareness about pediculosis. African countries are expected to show slower growth rate in the forecast period owing to poorly developed healthcare infrastructure and poor economy.

Reprocessed Medical Devices Market Dynamics and Opportunities Report by Transparency Market Research

The global market for reprocessed medical devices features a markedly high level of consolidation, with Stryker Sustainability Solutions, Inc. alone holding a share of nearly 62% of the overall market in 2013, reports TMR in a recent market research report. Well-managed supply channels and a strong distribution network have allowed the company to take a coveted spot in the global reprocessed medical devices market.

Owing to the prominence of a few vendors in the market, entry barriers for new vendors are high. Along with the dominance of a very small number of companies, factors such as the requirement of a steady supply of used medical devices, regulatory control exercised by several supervisory bodies, and the necessity of strong distribution networks are challenging new vendors in the global reprocessed medical devices market. However, developing economies, with vast growth opportunities and a highly unorganized reprocessing industry could allow easy admittance to new vendors. Some more of the market’s notable participants are Hygia Health Services, Inc., Centurion Medical Products Corporation, Medline ReNewal, SterilMed, Inc., and SureTek Medical.

The global reprocessed medical devices market is expected to exhibit an exceptional 19.3% CAGR by revenue over the period between 2014 and 2020. The market had a revenue-wise valuation of US$898.7 mn in 2015. In terms of volume, the global market is expected to rise to 56.04 mn by 2020.

Rising Pressure on Reducing Medical Waste and Demand for Reducing Medical Costs Drive Market

That using reprocessed medical devices could help healthcare facilities in saving big bucks is not a difficult guess. The Association of Medical Device Reprocessors (AMDR) states that any typical hospital could save anywhere between US$500,000 to US$2 mn a year using reprocessed medical devices. What’s more, orthopedic surgery centers could save up to US$20,000 per operating room a year by employing reprocessed medical devices. Such vast savings are the chief factor that reprocessed medical devices appeal to healthcare industries across the globe, no matter how strong or weak the economy of a country.

In developed economies, the rising demand to bring down healthcare expenses along with the several regulations requiring proper disposal or reuse of medical devices with a view of reducing the volumes of medical waste are working in favor of the medical devices reprocessing industry. In developing and under-developed economies, on the other hand, the potential of reprocessed medical devices in bridging the gap between the vast demands for healthcare facilities and their absence, especially in remote areas, could allow the global reprocessed medical devices market achieve traction.

Reluctance in Adopting Used Products in Developed Economies and Preference for In-house Reprocessing in Emerging Ones Hinder Market’s Growth

In certain developed countries such as the U.K. and France, healthcare providers and surgical centers are highly reluctant regarding the use of reprocessed medical devices. The lack of awareness and negative perception about the safety, product quality, and efficacy of reprocessed medical devices are key to the low adoption of reprocessed medical devices in such regions.

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In developing countries, such as India, China, Singapore, and many other countries in the Middle East, Africa, and Asia Pacific, the large-scale adoption of professionally reprocessed medical devices is hindered due to the high preference for in-house reprocessing.

The lack of specific regulatory guidelines governing the process of medical device reprocessing has helped flourish the intake of easily and economically reprocessed medical devices recovered through in-house processing. This factor is expected to emerge as a key challenge to the overall development of the global reprocessed medical devices market in emerging economies in the next few years.

Cardiovascular Devices Take the Lead

The segment of cardiovascular devices saw the most traction, with 13.69 mn devices reprocessed and/or sold globally in 2015. In terms of revenue as well, the segment of reprocessed cardiovascular devices held the dominant position, with a valuation of US$599.3 mn in the same year. Geography-wise, North America emerged as the clear leader in the global reprocessed medical devices market as of 2015.

This review is based on a recent report published by Transparency Market Research, titled “Reprocessed Medical Devices Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020.”

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