Radiofrequency Ablation Devices for Pain Management Market: Consumer Preference for Minimally Invasive Pain Management Options to Boost Growth Opportunities

The radiofrequency ablation devices for pain management market features a markedly high level of consolidation, with the top three vendors,  St. Jude Medical, Inc., Halyard Health, Inc., and Boston Scientific Corporation, accounting for a share of over 88% in 2015, observes Transparency Market Research. “These companies have strengthened their hold on the market owing to diversified product portfolios, extensive geographical presence, and strategic acquisitions over the past few years,” states a TMR analyst. Increased focus on emerging economies and increase in product launches are some of the most popular strategies adopted by top players.

Transparency Market Research states that the global radiofrequency ablation devices for pain management market, which valued at US$372.7 mn in 2015, is expected to rise to US$1,114.5 mn in 2024. This translates to a potential 13.0% CAGR over the period between 2016 and 2024.

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In terms of product varieties, the segment of disposable RF products dominated, accounting for a 40% of the overall market in 2015. The segment of RF generators is expected to exhibit expansion at the most promising pace over the forecast period. From a geographic perspective, the market in North America dominated in 2015, accounting for over 40% of the global market in 2015. However, the global market is expected to witness most lucrative growth opportunities in emerging economies across regions such as Asia Pacific and Latin America over the forecast period.

Rising Prevalence of Chronic Pain to Have Sizeable Positive Impact on Market Growth

The rising prevalence of chronic pain conditions and the rising geriatric population of the world are among the key factors leading to the rising global demand for pain management therapies such as the ones that use radiofrequency ablation devices. The global market for these devices for pain management is also highly influenced by the rising demand for minimally invasive procedures across the globe.

Benefits such as lesser post-surgery complications, low chances of side effects, and shorter span of recovery work in favor of minimally invasive surgeries and related devices. Radiofrequency ablation devices for pain management are also gaining increased focus owing to the higher known side effects and lower efficiency of alternate pain relief procedures and therapeutics options such as acupressure, acupuncture, and opioids. The easy availability, cost-effectiveness, and easy access to highly effective radiofrequency ablation devices for pain management have also propelled the market for these devices of late.

Regulatory Hurdles Delaying Approval of New Devices to Hamper Market Growth

The need to comply with stringent laws and regulations set by regulatory authorities that are closely associated with product approvals, clinical trials, design, development, and commercialization hamper the overall development of the market to a sizable extent. Ablation devices come under class III medical device category in Europe and the U.S. Owing to this, the efficacy and safety of devices such as catheters and generators are paramount to gain approval. Strict regulations do not only delay approval, launch, and marketing of these products but also lead to increased prices.

Decisions of regulatory authorities and cost containment measures undertaken by government authorities also have a negative impact on the reimbursement scenario and restrain the market for radiofrequency ablation devices for pain management. Along with these factors, the low costs of several pain management therapeutic options such as anticonvulsants, antidepressants, and NSAIDs also significantly impact and restrain the overall development of the global radiofrequency ablation devices for pain management market.

This review of the market is based on a market research report recently published by Transparency Market, titled “Radiofrequency Ablation Devices for Pain Management Market (Product - RF Generators, Reusable Products, and Disposable Products; End-user - Specialty Clinics, Ambulatory Surgical Centers, and Hospitals) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

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Hepatitis E Diagnostic Tests Market: Fueled by Lack of Potable Water, Hepatitis E Hyperendemicity to Drive Growth

Global Hepatitis E Diagnostic Tests Market: Snapshot

The hyper-endemic prevalence of hepatitis E in various economies across the world, specifically in Asia Pacific, is likely to boost the need for hepatitis E diagnostic tests, globally in the coming years. The global hepatitis E diagnostic tests market, which was valued at US$43.7 mn in 2015, is projected to expand at a CAGR of 3.80% between 2016 and 2024and rise to an opportunity worth US$60.4 mn by 2024.

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Demand for ELISA HEV IgM Test Kits to Remain Strong

ELISA HEV IgM test kits, ELISA HEV IgG test kits, and RT-PCR test kits are the main types of test kits available in the global hepatitis E diagnostic test market. Since ELISA HEV IgM test kits are utilized extensively in the primary tests for the diagnosis of hepatitis E infections, these kits have been registering a higher demand than other test kits. Supported by the growing seroprevalence of hepatitis E across the world, researchers expect the demand for ELISA HEV IgM test kits to continue to rise remarkably over the forecast period.

The RT-PCR test kits segment is likely to follow the ELISA HEV IgM test kits segment closely in the coming years. As RT-PCR test is considered as the direct test for the diagnosis of acute infections of hepatitis E, the demand for RT-PCR test kits is also expected to increase substantially in near future. On the flip side, the ELISA HEV IgG test kits segment is projected to report a modest progression over the years to come.

Asia Pacific to Maintain Dominance in Global Hepatitis E Diagnostic Tests Market

On the basis of geography, the global market for hepatitis E diagnostic tests is segmented into Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa. In 2015, Asia Pacific led the worldwide market with a share of more than 42% and is projected to remain dominant over the forecast period. A number of Asian countries, such as India, Nepal, Pakistan, Bangladesh, Bhutan, Vietnam, Kazakhstan, Thailand, and Burma, suffer from hyperendemicity of hepatitis E, which leads to an increased need for hepatitis E diagnostic tests, supporting the growth of the Asia Pacific market.

Apart from this, the Middle East and Africa will also witness a prominent rise in the market for the hepatitis E diagnostic tests in the coming years on account of the growing prevalence of hepatitis E in several economies, such as Uganda, Kenya, Morocco, and Nigeria due to poor sanitation facilities and lack of safe drinking water. On the other hand, the markets in North America and Europe will not report any noteworthy growth in the near future due to the insignificant prevalence of hepatitis E.

Some of the leading companies in the global market for hepatitis E diagnostic tests are Primerdesign Ltd., MP Biomedicals LLC, Mikrogen GmBH, Fortress Diagnostics Ltd., Fast-track diagnostics Ltd., F. Hoffmann-La Roche Ltd., Dia.Pro - Diagnostic Bioprobes s.r.l, Biokit S.A., Beijing Wantai Biological Pharmacy, and Altana Diagnostics GmbH.

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Asia Pacific Lateral Flow Diagnostic Tests Market at a CAGR of 5.7% from 2015 to 2023

On account of a handful of large regional players, the Asia Pacific lateral flow diagnostic tests market is somewhat consolidated, finds a report by Transparency Market Research (TMR). It is characterized by stiff competition among the leading market players, who are present across major types of applications. Some of the well-entrenched players in the Asia Pacific lateral flow diagnostic tests market are Alere, Inc., Beckman Coulter, Inc., Beckman Coulter and Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, and Bio-Rad Laboratories. Among them, Beckman Coulter, Inc., for example, presently operates in over four segments of the APAC lateral flow diagnostic tests market, making it one of the dominant players in the market.

Going forward, the TMR report predicts that continued innovation resulting in more sophisticated lateral flow diagnostic test procedures would further heat up competition among the companies in the market. The APAC lateral flow diagnostic tests market was worth US$2.3 bn in 2015. Expanding at a steady CAGR of 5.7%, it is slated to reach a value of US$3.586 in 2023.

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Japan to offer Lucrative Options for Investments and Sales to Global Market

The APAC market for lateral flow diagnostic tests can be divided on the basis of application into seven main parts, namely malaria, hepatitis, pregnancy, syphilis, HIV, influenza, and others. Among them, the pregnancy application segment led the APAC market for lateral flow diagnostic tests in 2014 due with a dominant share of US$0.6 bn in 2015 in 2015. This was mainly on account of the substantial demand for diagnostic kits to test fertility from females in the region. In terms of growth rate, however, the hepatitis application segment is forecasted to outpace all other segments as hepatitis B continues to affect a substantial proportion of the population. A World Health Organization (WHO) report states that between 5-10% of the adult’s population is affected by hepatitis B in East Asia.

The report also segments the APAC lateral flow diagnostics test market on the basis of regions. It finds Japan, which is the second significant individual healthcare market, to be a key country in the Asia Pacific region. This growth will be fueled by swift pace of infrastructural development, enhanced access to medical care, and rising thrust on research. The market is anticipated to rise at a CAGR of 4.5% from 2015 to 2023. Efforts to develop cost-effective diagnostic kits for Ebola by researchers at Nagasaki University are expected to help this country retain its lead in the coming years as well. Densely populated China and India, investing heavily in the healthcare sector will also up demand for lateral flow diagnostic tests.

Growing Instances of Chronic Maladies Propels Market

The healthcare spend in Asia Pacific has seen an upswing due to rising instances of maladies such as cardiovascular disorders, diabetes, cancer and infectious diseases. This has been pegged as an important driver of growth in the APAC market for lateral flow diagnostic tests. Another important factor boosting the market is growing demand for point-of-care diagnosis, which delivers faster results thereby lowering treatment cost and time. It also helps in thwarting complications resulting from delay.

A major deterrent to the market is the frequent inaccurate results. Explains the analyst of the report, “Lateral flow diagnostic tests are designed for tentative diagnosis at home or point-of-care setting. Due to low sensitivity, lateral flow diagnostic tests often deliver false results. Further, incorrect sampling during home testing may also contribute to error in disease testing. This might deviate treatment from the actual diagnosis and lead to further compilations. Although technological advances might overcome this drawback in future, lateral flow tests are seldom used for routine diagnosis due to this demerit.”

This review is based on the findings of a TMR report titled “Lateral Flow Diagnostic Tests Market - APAC Industry Analysis, Size, Share, Growth Trends and Forecast 2015–2023.”

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Hospital Acquired Infection Treatment Market Value Share Analysis, by Distribution Channel in 2024

The global hospital acquired infection treatment market in 2015 was dominated by a handful of players, including Abbott, Pfizer, Inc., Merck & Co., Inc., and Bayer AG. The market is currently in a state of battle with the growing count of generics available in the world, owing to an incoming wave of patent expirations. This could create a problem for players trying to maintain favorable profit margins.

According to a research report released by Transparency Market Research, the highly fragmented global hospital acquired infection treatment market holds a medium level of competition for players of all sizes. Key players are locked in rivalry for the development of treatments for alternative molecule therapies and multi-drug resistant pathogens. At the same time, the threat of new entrants to the existing market is very high, owing to the growing demand for enhanced therapeutics, despite the high entry barriers set by strict regulatory frameworks and capital intensive research and development. The global hospital acquired infection treatment market was valued at US$28.99 bn at the end of 2015 and is expected to expand at a CAGR of 2.7% within a forecast period from 2016 to 2024. By the end of 2024, this market is expected to reach an estimated US$36.61 bn.

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Growing Geriatric Population Propels Nosocomial Treatment Demand in Developed Economies

“There is a multi-tracked set of drivers that are currently augmenting the global hospital acquired infection treatment market. Each driver is directly or indirectly linked to the other. Of the many factors in favor of the market’s growth, the leading factor has to be the growing geriatric population. The elderly – due to their lower physical immunity – are incredibly prone to infections and especially nosocomial ones. Therefore, the growing population of the geriatric is a serious factor that needs to be accounted for within the global hospital acquired infection treatment market,” states a TMR analyst.

Other factors driving the global hospital acquired infection treatment market include the overall condition of healthcare organizations in emerging economies. Their generally lower levels of hygiene, infrastructure maintenance and sterilization techniques are creating a very high demand for nosocomial infection treatments. Countries from Asia Pacific, for instance, are currently showing to be leading in terms of growth rate of demand, thereby attracting several prominent players in the global hospital acquired infection treatment market.

Multi-drug Resistant Bacteria Complicating Market Scenario in Nosocomial Infections Treatments

A key restraint acting on the global hospital acquired infection treatment market currently, is the steady increase in the rate of failures in treatment caused by the growing number of multi-drug resistant bacteria. Given a frequent rate of survival of bacteria after being exposed to drugs that are designed to eliminate them, they are known to develop resistance to them, pressuring the healthcare industry to seek alternative treatments or other forms of drug treatments. There is a growing rate of multi-drug resistant bacteria affecting patients and these infections can prove to be heavily detrimental to a patient’s recovery cycle or even be fatal for them.

“Key players in the global hospital acquired infection treatment market are more likely to have multiple drugs in the pipeline, the approval of which can be a shot in the arm for the market. The focus on HAIs is increasing at a fast rate in emerging economies as well, giving rise to a massive untapped market for patients from the lower and middle income classes. These avenues can prove to be fruitful for players currently established in the global hospital acquired infection treatment market, as well as new entrants in emerging economies,” adds the analyst.

The information presented in this review is based on a Transparency Market Research report, titled, “Hospital Acquired Infection Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

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Worldwide Ostomy Drainage Bags Market will reach US$2759.5 Million by 2022

Characterized by the intense rivalry between Coloplast A/S, ConvaTec Inc., and Hollister Inc., the global ostomy drainage bags market demonstrates a highly competitive and consolidated structure. These three players accounted for nearly 85% of the overall market in 2013.

Hitherto, product innovation was the key strategy applied by these players to sustain in this market. However, a shift in their focus towards partnerships, mergers, and acquisitions, in a bid to expand their product portfolio, distribution network, and geographical presence, can be observed in the forthcoming years, reports the study.

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According to this report, the opportunity in the global market for ostomy drainage bags is likely to increase from a value of US$1.8 bn in 2013 to US$2.7 bn by 2022, expanding at a CAGR of 4.70% during the period from 2014 to 2022. Colostomy bags have been the most valued product in this market and is anticipated to remain so over the period of forecast. Researchers expect the shipment volume of colostomy bags to cross 549.6 million units by the end of 2024.

Europe to Remain Leading Consumer of Ostomy Drainage Bags

A geographical analysis of the global market for ostomy drainage bags is also provided in this research report, according to which, North America, Europe, Asia Pacific, Latin America, the Middle East and North Africa, and the Rest of the World are key regional ostomy drainage bags markets across the world. With the high prevalence of bladder and colorectal cancer, Europe has emerged as the leading consumer of ostomy drainage bags. Holding a near majority share, this regional market will remain dominant throughout the period of forecast.

The presence of a favorable reimbursement scenario, high disposable income of consumers, and the increased awareness among them regarding the available treatment options are likely to fuel the demand for ostomy drainage bags significantly in this region over the next few years. Asia Pacific is also expected to witness a strong rise in the demand for these bags at a CAGR of 5.30% during the forecast period, states the report.

Increasing Geriatric Population Base to Reflect Positively on Sales of Ostomy Drainage Bags

With elderly people being the key consumers of ostomy drainage bags, the ever-increasing geriatric population base has become the main factor behind the growth of the global ostomy drainage bags. “Aging exposes people to a number of health risks, such as colon cancer, bowel cancer, bowel dysfunctions, and incontinence disorders, which necessitate ostomy procedures and the usage of ostomy drainage bags,” says an analyst at TMR.

In addition to this, the increasing incidence of bladder cancer, colorectal cancer, ulcerative colitis, Crohn’s disease, and IBD across the world is anticipated to boost this market considerably over the forecast period. However, the easy availability of alternative ostomy procedures may limit the demand for ostomy drainage bags to some extent in the coming years, notes the market study.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector - such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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Global Smart Watches Market - Industry Analysis and Forecast 2014 – 2020

The global smart watches market is expected to show a remarkable growth rate by coming years. One of the major factors contributing the growth of the global smart watches market is the entrance of big vendors in the market. The market has also witnessing an increase in R&D spending. The global leading players such as Sony, Samsung, Pebble, and Maritime have increased their R&D investments for smart watches. For that, they are entering into partnerships with value-added resellers and suppliers and investing in R&D activities. These increasing R&D investments are helping players to introduce new products with better integration ability and accuracy. This will help with the reduction in smart watch prices and lead to an increase in their adoption among consumers.

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Although the various driving factors, the global smart watches market is retraining due to the lack of proper technology standards. In addition, this is a new and emerging technology and thus technology standards are not clearly defined. The wearable computing device has failed because of the bulkiness, ugly look, battery issues and weak functionality. However, after the launch of number of new smart watches, consumer perceptions have changed. Nowadays, smart watches have become an important accessory to smartphones and an independent communication device. In future, smart watches will have a screen which potentially run software and allows to serve a robust extension to smartphone operating systems and apps.

The global smart watches market is segmented into two major categories, on the basis of application into general consumers, sports and healthcare and others. The market is also segmented on the basis of product characteristics into companion devices and standalone smart watches.

The market is driven by factors such as the rapidly growing consumer electronics goods industry and its distinctive features. The rapid technological advancements and changing consumer preferences will also act as drivers for the global smart watches market. Other factors fuelling the growth of the global smart watch market are the growing adoption of wireless technologies and softwares. Also the continuous adoption of mobile processor technologies is driving the demand for this market.

Some of the factors inhibiting the growth of the global smart watches market are the lack of standardization in this technology. The growing penetration of electronic devices will serve as an opportunity, fuelling the growth of the global smart watches market.

Some of the key players in this market are ConnecteDevice Ltd., Google Inc., Martian Watches, Metawatch Ltd., Qualcomm Inc., Samsung Electronics Co. Ltd., Sony Corp., Apple Inc., Pebble Technology among others. Earlier the global smart watches market was dominated by players with relatively low brand image in the electronic device industry. However, after the entrance of new big vendors in the consumer electronic device industry, the demand and curiosity for smart watches have increased among the end consumers.

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Point Absorber Market - Global Industry Research Report, 2014-2020

The point absorber is a wave energy device that could potentially provide ample quantities of power in a relatively small device as compared to other technologies. Although there are strategies and numerous designs for using these devices, mostly they all work in the similar manner. They are small in size as compared to the wave length and have bottom mounted structures. Power conversion takes place in various forms depending on the conformation of the device. Vertical movement of the buoy is used for alternate the compression of fluids in various forms of container. The relative motion between the seabed structure and the activated wave that float on the sea surface activates the power system.

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PB150 is the best known point absorber device manufactured by Ocean Power Technologies. It is a floating type structure with a low surface profile and inside it is a piston like structure which oscillates as the device bobs with the wave movements. The wave motion drives a generator to produce electricity which is sent to the shore by an underwater cable. Ocean power technologies are currently in the process of developing power tower, a system with a 500 kW capacity which when completed is expected to drive the OPT system into a higher level of commercial and utility scale product capability. The US Department of Energy in partnership with the British Government has started funding various stages of the development program of PB500 power tower. In Coos Bay region, Ocean Power Technologies plans to install a PB500 wave farm system in the near future. It is expected that if the Coos Bay project is completed within time, it is projected to be the largest wave energy park across the globe, capable of supplying 275,000 MW of power to the grid every year.

Point absorbers are designed according to the depth and location where they have to function such as offshore, near shore and shoreline. The First type of point absorber is called as Ocean Power Technology’s Power Buoy. This type of point absorber floats on the surface of the ocean. The rise and fall of the wave swell cause the buoy to rise and fall. The floating buoy comprises two rods that are coupled with devices which are similar to that of a piston within a cylinder. As the buoy rises and falls the vertical motions cause the pistons to rise and fall. The turbine is connected to the generator which produces electricity. The second type of point absorber is Carnegie Wave Energy’s (CETO). This CETO utilizes the energy of the waves passing by to pull the buoy away from its structure. This in turn creates a power within a cylinder. It consists of small individual buoys that are anchored to the seafloor with buoyant buoys. As the waves pass through the device the wave pulls the buoy with it. This repeated motion creates power.

Some of the key players in the point absorbers market are Pelamis Wave Power Ltd, AWS Ocean Energy Ltd, Ocean Navitas Ltd, Carnegie Corporation, Ocean Power Technologies Inc, Wave Bob LLC and Wave Bob Ltd among others.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include

• North America
• Asia Pacific
• Europe
• Rest of the World

This report provides comprehensive analysis of

• Market growth drivers
• Factors limiting market growth
• Current market trends
• Market structure
• Market projections for upcoming years

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

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