Category Archives: Healthcare IT

Gene Delivery System Market is Envisaged to Hit US$ 4,281.0 Mn by 2025

 

Transparency Market Research (TMR) has published a new report titled “Gene Delivery System Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. According to the report, the global gene delivery system market was valued at approximately US$ 2,227.8 Mn in 2016 is projected to expand at a CAGR of over 7.8% from 2017 to 2025, The report suggests that increasing in incidence of chronic diseases, rise in technological advancement in administration of drug delivery are projected to boost the market from 2017 to 2025. Key players introduce advanced technologies for drug delivery systems in North America and Europe; therefore, these regions are likely to account for a dominant share of the global gene delivery system market. Changing lifestyle and increase in incidence of chronic diseases in emerging markets such as China and India are likely to boost the market in Asia Pacific. The market in the region is expected to expand at a CAGR of around 8.6% from 2017 to 2025.

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High Cost of Gene Delivery Systems is a Key Inhibitor for the Global Gene Delivery System Market

The cost of gene delivery system is significantly high, hence it is not affordable to all income groups. Additionally, lack of reimbursement in developing and under developed countries is likely to restrain the market. For instance, the cost of Spinraza, marketed by Biogen and used for the treatment of spinal muscular atrophy, is around US$ 750,000 per patient in the first year and US$ 375,000 annually thereafter. The cost of Cinryze, marketed by Viropharma used for the treatment of hereditary angioedema, is more than US$ 417,000 per patient per year. Moreover, rise in incidence of rare diseases increases the demand for treatment options. This, in turn, increases the cost of treatment due to less availability. Gene delivery targets only the affected region. Hence, stringent regulations lead to drug recalls. Therefore, gene delivery drugs are not sold over-the-counter.

Combined Hybrid Delivery System Segment to Lose Market Share

The report offers detailed segmentation of the global gene delivery system market based on delivery system, application, and route of administration. The delivery system is segmented into viral gene delivery system, non-viral gene delivery system, and combined hybrid delivery system. The combined hybrid delivery system segment is expected to lose market share during the forecast period primarily due to increase in demand for viral gene delivery system. Rise in incidence of genetic disorders with a different pattern of inheritance increases demand for gene delivery systems worldwide. Increase in application of viral gene delivery for the treatment of several chronic diseases such as cancer fuels the segment. The non-viral gene delivery system segment is likely to maintain market share during the forecast period. Several advantages of non-viral vectors over viral vectors such as lack of immunogenicity, low toxicity, and potential for tissue specificity drive the segment.

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Urology Segment to Expand at Considerable Pace during the Forecast Period

Based on application, the oncology segment dominates the global gene delivery system. Increase in incidence of cancer worldwide, drives the segment. According to WHO report (2017), around 1 in 6 deaths occurs due to cancer globally. The urology segment accounted for market share of 7.0% in 2016. The segment is a projected to expand at a considerable pace due to increase in number of chronic kidney diseases and rise in incidences of kidney and liver cancer. According to World Kidney Day a global awareness campaign, 8% to 10% of adults have some form of kidney disorder globally.

Inhalation Segment to Lose the Market Share

In terms of route of administration, the injectable segment dominated the market with share of 43.8%. The injectable route of administration is used for rapid drug absorption. Drugs with low oral bioavailability are administered through intramuscular or subcutaneous route. The inhalation accounted for a small share of the market in 2016; however, is expected to lose market share during the forecast period. Drugs used for the treatment of lung diseases such as bronchodilators and steroids are administered through inhalation to achieve rapid action.

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Asia Pacific to Register Exponential Growth due to Increase in Incidence of Diseases

The market in Asia Pacific is expected to expand at a CAGR of 8.6% during the forecast period. Asia Pacific constituted 19.8% share of the market in 2016. Increase in incidence of several acute and chronic diseases in Asia Pacific drives the market in the region. India has high incidence of infectious diseases such as tuberculosis. According to WHO report (2015), India had 2.8 million tuberculosis patients, which was nearly 27.3% of global TB incidence, followed by Indonesia (9.8%), and China (8.8%). North America and Europe account for significant share of the global gene delivery system market due to increase in prevalence of cancer in these regions. According to WHO report 2016, 31% of all deaths were caused by cancer and 2% by diabetes in France.

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Key Players such as Novartis AG, Amgen Inc., Oxford BioMedia plc, and SIBIONO to Lead the Global Gene Delivery System Market

Leading players operating in the global gene delivery system market include Novartis AG, Amgen Inc., Oxford BioMedia plc., SIBIONO, Shanghai Sunway Biotech Co. Ltd., Pfizer Inc., Bayer AG, Johnson & Johnson Services Inc., Human Stem Cells Institute, and Epeius Biotechnologies Corporation. Strong gene delivery system pipeline to drive the global gene delivery system market.

 

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Smart Cards in Health Care Market with Worldwide Industry Analysis to 2024

A smart card is a small plastic card with an embedded integrated circuit (IC) chip. This integrated circuit (IC) chip is a microprocessor that makes the smart card suitable for different electronic applications. The chip on the card is used to store, manage, calculate, and safely access some personal valuable data or information when needed by a card reading machine or other system. Smart cards use encrypted algorithms for data management and are considered safer than magnetic strip cards. Smart cards are widely used to handle sensitive information such as identity, finances, and personal health information due to their added security features. Smart cards are also used in several key applications such as health care services, banking and financial corporations, entertainment, telecommunications, government authorities, and transportation.

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Smart cards in the health care sector have gained massive popularity in the last decade. This can be attributed to several value added features that smart card usage can offer to patients as well as providers. With the health care boom in the last few decades, maintenance of health data has become a necessity, yet tiring process in large facilities. Health care organizations globally are extensively using smart health cards that offer an extensive range of applications. Smart cards in health care can help enhance the security and confidentiality of patient data, maintain accurate patient identification across different facilities and geographies, provide secure access to emergency medical information, easy bill payment using the card for a financial transaction, reduce health care fraud, offer a secure medium for convenient medical records, and permit better compliance with government initiatives and instructions.

The global smart cards in health care market is anticipated to be driven by a number of factors such as growing demand for better patient data management systems and increasing inclination for electronic data management approaches. In addition, growing stress on patient data safety is expected to drive the market. Furthermore, increasing research and development activities by key players to develop new products is projected to boost market growth.

Based on products, the smart cards in health care market can be divide into contact-based smart cards, contactless smart cards, dual-interface smart cards, and hybrid smart cards. Contact-based smart cards comprise a gold chip that needs a smart card reader to access and interpret data, while contactless smart cards contain a microprocessor chip and an antenna coil that enables them to work faster than contact cards. Another key driver of the market is tamper-proof data storage. Advancements in product technology and rising awareness among the common people about the benefits of smart cards is also expected to increase demand in the near future.

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In terms of region, the smart cards in health care market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe have been dominating the market due to high acceptance of digital mediums in the regions. According to a research study conducted by the Workgroup for Electronic Data Interchange (WEDI), smart cards usage in health care could decrease the error rate of mismatched patient data from 10% to 15% to as low as 2%. Additionally, new and advanced technology such as hybrid cards launched by various market players coupled with growing online campaign and acceptance of these products by customers is expected to drive the market. Developing nations in Asia Pacific are expected to witness the fastest growth during the forecast period. Growing patient pool, increased public awareness, and increasing affordability are the major drivers of the market in these geographies.

Some of the players in the smart cards in health care market are Atos SE, American Express Company, CardLogix Corporation, Giesecke & Devrient (G&D) GmbH, Gemalto NV, Infineon Technologies AG, INSIDE Secure SA, Oberthur Technologies SA, SCM Microsystems, and VeriFone Holdings, Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

 

Personal Mobility Devices Market Outlook, Trends and Key Analysis by 2023

Global Personal Mobility Devices Market: Key Trends

The rising geriatric population around the world has emerged as a key driver of the global personal mobility devices market. Transparency Market Research (TMR) projects demand for these devices to steadily increase in Asia Pacific, as the population of aged people increases in India and China. Apart from the geriatric population, caregiving services are also essential for people suffering from disability. A rise in the number of people living with a disability, either temporary or permanent, will fuel demand for personal mobility devices.

Despite witnessing positive growth worldwide, the high cost of these mobility devices will limit their market’s expansion to an extent. The low acceptance of digitized devices will also negatively impact the market’s trajectory. Nevertheless, grants from international organizations and favorable policies will boost sales of personal mobility devices in the coming years.

This 239 page report gives readers a comprehensive overview of the Personal Mobility Devices Market. Browse through 61 data tables and 97 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/personal-mobility-devices-market.html

As per TMR, the global personal mobility devices market stood at US$6.65 bn in 2014. Rising at a CAGR of 7.30% between 2015 and 2023, the market is expected to reach US$12.7 bn by the end of 2023.

Higher Purchasing Power of Consumers Puts North America in Dominant Position

North America currently leads the global personal mobility devices market. By revenue, the region held over 41.4% of the overall market in 2014, followed by Europe. Spurred by the rising geriatric population, coupled with the rising number of people with disability, the sales of personal mobility devices is expected to rise considerably in this region. North America has also proven lucrative for producers of technologically advanced devices. The region thus exhibits high demand digitized mobility devices. Furthermore, the increasing willingness among consumers to spend on advanced medical devices will provide improved sales opportunities to personal mobility devices manufacturers in North America.

Asia Pacific emerged as the third-largest market for personal mobility devices in 2014. However, TMR forecasts the regional market to rise at the highest CAGR during the forecast period. The increasing awareness about advanced medical devices, and their rising affordability, will boost demand for personal mobility devices in Asia Pacific. Furthermore, the increasing geriatric population reported in India and China, will augur well for the personal mobility devices market in Asia Pacific.

Advent of Electric Wheelchairs Fuels Growth of Medical Mobility Aids and Ambulatory Devices Segment

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The global personal mobility devices market can be bifurcated into medical mobility aids and ambulatory devices and medical furniture and bathroom safety products. Of these, the medical mobility aids and ambulatory devices segment dominated the market in 2014. The segment is expected to report the fastest CAGR of 8.5% during from 2015 to 2023. In this segment, wheelchairs emerged as the dominant sub-category in 2014. The increasing incidence of disability related to age, disease, or any physical injury fuels demand for wheelchairs considerably. Furthermore, the demand for electric wheelchairs is expected to rise in the forthcoming years as they provide better outdoor performance and are easy to drive.

Besides this, the medical furniture and bathroom safety products segment is expected to witness rising demand for medical beds in the near future. Overall, the segment is expected to report steady growth through the forecast period.

Some of the leading players operating in the global personal mobility devices market are Amigo Mobility International, Inc., Argo Medical, ArjoHuntleigh, Drive Medical, Graham-Field Health Products Incorporated, and Hill-Rom Holdings, Inc.

 

Healthcare Information Systems Market Trends And Opportunities For The Industry By 2024

Despite a consolidated vendor landscape of the global healthcare information systems market, top players, namely Cerner Corporation, All Scripts, and McKesson held a moderate 26% of the market in 2015, says Transparency Market Research (TMR) in a new report. The diversified portfolio of these players is the key factor helping them maintain their dominant position. Mergers and acquisitions for expanding their geographical presence and for revenue gains indirectly is also the focus of several companies in this market, notes the report.

As per the research report, the healthcare information systems market is anticipated to be worth US$448 bn by 2024 increasing from US$192 bn in 2015 at a CAGR of 10.1% between 2016 and 2024.

North America to Continue Command in Market

This 226 page report gives readers a comprehensive overview of the healthcare information systems market. Browse through 48 data tables and 69 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/healthcare-information-system.html

The global healthcare information systems market is studied on the basis of component, application, end-user, deployment, and geography. By component, software is expected to continue to account for the leading share in the market. The increasing popularity of mobile applications for communication between patients and physicians is boosting the growth of software segment of the market. However, the hardware component segment is estimated to register a notable CAGR between 2016 and 2024.

In terms of end user, hospitals, diagnostics centers, and academic and research institutions are the segments of the healthcare information systems market. The segment of hospitals is expected to continue its lead until 2024 rising at a CAGR of 11.1% between 2016 and 2024. The need to store vast amounts of data and make them accessible to patients account for hospitals to display tremendous demand for healthcare information systems.

North America will continue to command accounting for 36.6% of the revenue of the healthcare information systems market by the end of the forecast period in 2024. The growing geriatric population combined with increasing incidence of chronic diseases are the key factors behind the growth of this regional market. Moreover, governments in the region are focused on healthcare reforms and allocating substantial budgets for implementing them.

North America is closely followed by Europe with Western Europe contributing the major revenue in the region. The soaring demand for improved healthcare and the need to integrate healthcare systems are driving the healthcare information systems market in this region. The rising awareness regarding the accuracy and reliability of technology-driven healthcare services is providing momentum to this regional market.

On the other hand, Asia Pacific is expected to register the leading CAGR over other regions during the review period. The rising geriatric population base susceptible to chronic diseases is leading to the increased adoption of modern healthcare systems for easy access to patient information. Improving healthcare infrastructure combined with increasing investments by healthcare IT companies is further bolstering the growth of this regional market.

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Need for Reliable Patient Record Keeping Drives Swift Uptake of Healthcare Information Systems

Several governments across the world are taking initiatives to digitize healthcare systems leading to the adoption of healthcare information systems. This is because patient records in digital format is easy to transfer for improved healthcare.

High cost involved in the purchase and installation of healthcare information systems and cost of training technicians to use these systems is discouraging several end users from adoption them.

The review presented is based on the findings of Transparency Market Research report, titled “HealthCare Information Systems Market (Application – Hospital Information Systems (Electronic Health Record, Electronic Medical Record, Real-time Healthcare, Patient Engagement Solutions, and Population Health Management), Pharmacy Information Systems (Prescription Management, Automated Dispensing Systems, and Inventory Management), Laboratory Information Systems, Medical Imaging Information System (Radiology Information Systems, Monitoring Analysis Software, and Picture Archiving and Communication Systems), and Revenue Cycle Management; Deployment – Web-based, On Premise, and Cloud-based; Component – Software, Hardware, and Services; End User – Hospitals, Diagnostics Centre, and Academic and Research Institution) – Global & North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

 

Behavioral Therapy Market – Emerging Trends and New Technologies Research 2016 – 2023

The report titled, “Behavioral Therapy Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2023” by Transparency Market Research sheds light on the key trends, growth opportunities, catalysts, and deterrents of the market, along with key figures, charts, and relevant statistical data.

Behavioral therapy is an umbrella term for the various types of therapies aimed at treating mental disorders. Behavioral therapy lays emphasis on creating consciousness in the mind of an individual about how changes in his/her behavior can bring about changes in feelings. The therapy focuses on the eradication of maladaptive and unwanted behavior via engagement in positive reinforcing activities.

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As the incidence of behavioral issues and mental health conditions such as anxiety, depression, phobias, addictions, and obsessive-compulsive disorder (OCD) augments across the world, the global market for behavioral therapy is gaining significant impetus. Depression has surfaced as a key culprit necessitating the adoption of behavioral therapy. The changing work culture over the world has been triggering stress, anxiety, and depression. According to the findings of the U.S. National Institute of Mental Health, anxiety disorders form the most common type of mental illness in the U.S., affecting around 18% of the population or 40 million adults aged 18 and older.

These disorders not only affect the mental health of an individual, but also lead to physical health conditions such as irritable bowel syndrome (IBS), chronic pain, eating disorders, sleep disorders, fibromyalgia, bipolar disorder, headaches, and substance abuse, to name a few. Therefore, the co-occurrence of these conditions will promote more demand for behavioral therapy over the globe.

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On the other hand, lower degree of awareness about mental health, the prevalence of social taboos pertaining to mental health conditions, and high costs of behavioral therapies might restrict market growth. However, significant opportunities are likely to surface as the popularity of dialectical behavior therapy rises. Research reveals that the sets of behavioral skills such as distress tolerance, emotional regulation, mindfulness, and interpersonal effectiveness developed via dialectical therapy can help fight substance dependence, eating disorders, and post-traumatic stress disorder (PTSD).

Based on geography, the global market for behavioral therapy has been segmented into Western Europe, Eastern Europe, Latin America, North America, Japan, the Middle East and Africa, and Asia Pacific. North America and Europe appear to be dominating the global scenario, with countries such as the U.S., the U.K., and Germany driving the growth of the market.

The rising geriatric population in Asian countries is a prominent catalyst of the behavioral therapy market in Asia Pacific. The growing awareness about mental health, increasing availability of psychiatric treatments, and rising disposable incomes of the middle class are also accelerating the expansion of the market.