Monday, October 5, 2015

Computerized Physician Order Entry Market is Expected to Reach 1379 Million USD by 2019

Computerized Provider Order Entry (CPOE) is defined as any system that helps clinicians to directly enter medication orders into a computer, which then transmits the order directly to the pharmacy. Many inpatient settings have installed and started utilizing CPOE thus reducing medication errors. CPOE has various advantages, such as it eliminates illegible orders, gives warnings for allergy and adverse drug reactions at the point of ordering, and provides individual order monitoring and warnings for drug-drug, drug-food, drug-laboratory, and drug-diagnosis interactions.

The report analyses the CPOE market with respect to its type, component, deployment, end-user, and region.

The type segment is further divided into integrated CPOE and standalone CPOE, wherein the integrated CPOE sub-segment dominated the global CPOE market, by type, with a share of 75.0% in 2014. The components segment is divided into services, software, and hardware, wherein the services sub-segment has the largest market value of 37.0%. The deployment segment is further segmented into web-based, on premise, and cloud based, wherein the web-based sub-segment has the largest market share of 56.4%. The end-user segment of this market is segmented into office-based physicians, hospitals, emergency healthcare service providers, nurses, and other end-users, wherein the hospitals sub-segment held the highest share of 32.7% in 2014.

The global CPOE market was valued at $999.9 million in 2014, growing at a CAGR of 6.6% during the forecast period from 2014 to 2019. Various regions covered in this report are North America, Europe, Asia-Pacific, and RoW. North America held the largest share of 59.5% in the global CPOE market, which was followed by Europe. The rising number of installations in North America is due the high adoption of advanced technology and a greater emphasis that is laid on hospital automation.

Some of the major players operating in the Global CPOE Market include Allscripts (U.S.), Athenahealth, Inc. (U.S.), Siemens Healthcare (Germany), Philips Healthcare (Netherlands), Medical Information Technology, Inc. (U.S.A),  Cerner Corporation (U.S.), eClinicalWorks LLC (U.S.A), Epic systems (U.S.), GE healthcare (U.K.), Mckesson Corporation (U.S.), and Carestream Health (U.S.). Most of the companies have adopted various strategies, such as merger & acquisition and agreements, among others, to sustain in the global CPOE market.

Thursday, October 1, 2015

Refurbished Medical Equipment Market - Privatization of the Healthcare Sector in the Emerging Markets to Offer Lucrative Opportunities for Market Leaders in the Near Future

Refurbishing of medical devices refers to restoring used equipment or systems into a condition of safety and effectiveness comparable to new ones through repairs, rework, updates, and replacement of worn parts. The global refurbished medical equipment market is poised to grow at a CAGR of 12.5% in the forecast period. This market is divided into four major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2014, North America is expected to account for the largest share of the global refurbished medical equipment market, followed by Europe. The large market share of this market is attributed to the growing aging population, high incidence/prevalence of various diseases (such as cancer and CVD), favorable regulatory scenario for sale and use of refurbished medical systems in both the U.S. and Canada, and declining insurance reimbursements for imaging procedures. 

However, the Asia-Pacific region is poised to grow at the highest CAGR of 13.7% during the forecast period. This is primarily due to the privatization of the healthcare sector, poor reimbursement scenario, huge patient population base, and presence of a large number of low budgets hospitals/clinics.

A number of players in the refurbished medical equipment market are striving to expand their presence in both mature and emerging markets. For instance, in March 2010, the company launched its CT system manufacturing facility in Bangalore, India. Under this facility, the company refurbishes used medical devices. This enhanced the company’s refurbished medical equipment business in the emerging Indian market. Likewise, in November 2014, Royal Philips launched a new healthcare imaging system refurbishment facility in Best, the Netherlands. This enabled the company to offer a wide range of refurbished imaging devices in Europe.

Several companies such as Philips Healthcare (Netherlands), Soma Technology, Inc. (U.S.), GE Healthcare (U.K.), Block Imaging International, Inc. (U.S.), Siemens Healthcare (Germany), and DRE, Inc. (U.S.) are investing in this high-growth market to gain higher profits and to increase their shares in the global refurbished medical equipment market.

Increasing Preference for Noninvasive Procedures is driving the Market - Smart Pills Market

The smart pills market offers lucrative growth opportunities due to added benefits over traditional endoscopes and ease in the detection of cancer. Drug delivery and patient monitoring applications are expected to witness an increase in the adoption of smart pills in order reduce the healthcare costs and to increase patient satisfaction.

Favorable reimbursement scenario, patient preference for minimally invasive procedures and noninvasive procedures, technological advancements in endoscopy procedures, and rising prevalence of colon cancer are some of the major drivers of this market. Additionally, bowel scope screening procedures and aging population are providing a boost to this market. Countries have been providing special endoscopy training workshops along with huge corporate investments in R&D. Japan is one such country where the reimbursement approval for diagnostic and screening capsule endoscopy is encouraging market growth. The U.S. currently dominates the smart pills market.

On the basis of applications, the capsule endoscopy segment will continue to dominate the smart pills market during the forecast period. The large share of this segment can be attributed to the ease of procedure, noninvasive nature, and technological advancements over conventional endoscopes. The drug delivery and patient monitoring segments also pose strong growth opportunities due to advantages such as remote patient monitoring and targeted drug delivery.
North America dominated the smart pills market. The Asian market, on the other hand, is relatively new; however, increasing awareness among patients, technological advancements, and improved reimbursements are expected to drive the growth of this market.

Wednesday, September 30, 2015

Increasing Incidences of Spinal Disorders and Rising Adoption of Minimally Invasive and Non-fusion Spinal Procedures are Offering High-growth Opportunities for Market Players

Over the last few decades, the spinal implants and spinal devices market has witnessed significant technological advancements in terms of development of safer, cost-effective, and user-friendly medical devices. Increasing incidences of spinal disorders, rising geriatric and obese population, and continuous technological developments in spinal devices acted as major driving factors for the global spinal implants and spinal devices market. North America and Western European regions are mature markets for spinal implants and spinal devices. However, developing regions such as Asia-Pacific (including China, India, South Korea, and Taiwan) and Latin America are expected to grow at a higher rate and become new revenue-generating markets for players dealing with spinal implants and devices. The high-growth opportunities in the Asia-Pacific and Latin American regions is attributed to the rising healthcare expenditure, government initiatives, growing incidence and prevalence of spinal disorders, rising obese population, and increasing awareness among physicians and patients about the latest technological innovations.  

In the Asia-Pacific region, the spinal implants and spinal devices market in China is estimated to grow at the highest CAGR in the coming five years. Increasing government investments for the development of the country’s healthcare infrastructure are leading to growth in the number of healthcare service centers in China; thereby, rising the demand for spinal surgery devices in the country. In addition, increased government funding is also motivating private investors to make huge investments in China’s healthcare system. 

Moreover, presence of a large patient population, growing income levels, and rising prevalence of spinal disorders are fueling growth of the spinal implants and spinal devices market in China. Other Asian countries such as India, South Korea, and Taiwan are also expected to witness high growth in the forecast period, owing to the increasing government efforts to develop healthcare infrastructure and rising patient and physician education and awareness on the newly developed spine treatment procedures and technologies.
Technologically advanced non-fusion minimally invasive spinal implants and devices enable physicians to treat patients with more accuracy and efficiency. The market growth of these technologically advanced devices is primarily propelled by the increasing adoption of minimally invasive spine surgeries, as it reduces surgical risk, pain, blood loss, and risk of infection; and requires less time for recovery (leading to reduced time of post-operative hospital stays). Several companies such as Medtronic, plc (U.S.), DePuy Synthes (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), K2M Group Holdings, Inc. (U.S.), and Globus Medical, Inc. (U.S.) are investing in this high-growth market to gain more profits and increase their shares in the spinal implants and spinal devices market.

Friday, September 25, 2015

Emerging Economies to Drive Growth of the Global Biomarkers Market Personalized Development a Key Growth Segment

North America accounted for the largest share of the global biomarkers market in 2015. However, the Asian market is expected to grow at the highest rate during the forecast period and represents new revenue pockets for the biomarkers market. The expansion of leading biomarkers companies in Asia will enhance the market in this region. According to the World Bank, R&D spending in this regional segment increased from $177 billion in 2003 to $329 billion in 2010, at a CAGR of 9.29%. In 2010, Asia accounted for 27.13% of the global R&D spending. Moreover, R&D spending accounted for 1.97% of Asia’s GDP in 2010. In Asia, Japan is noteworthy for its significant R&D expenditure, which was 14.75% of the global R&D spending in 2010. R&D spending accounted for 3.16% of Japan’s GDP in 2010. Growth in R&D expenditure, along with strong growth trends in the pharmaceutical and biotechnology industries, will drive the Asian biomarkers market.
The application segments of biomarkers will be important revenue pockets for the market in the forecast period (2015–2020), these being diagnostics development, drug discovery and development, personalized medicine, disease risk assessment, and others. Diagnostics development accounted for the largest share of the biomarkers market in 2015. However, personalized medicine is expected to grow at highest rate during the forecast period. Personalized medicine is gaining recognition due to the limitations of standard diagnosis and treatment methods; many areas of medicine, from cancer to immunological disorders, are moving towards tailored treatment for individuals based on their genetic signatures and clinical characteristics.