What is the State of Adoption of Medical Robotic Systems in Healthcare Infrastructure?

The medical robotic systems market size is predicted to generate a revenue of $56.5 billion by 2030, increasing from $7.6 billion in 2019, advancing at a 20.2% CAGR during the forecast period (2020–2030). Based on type, the market is divided into radiosurgery, rehabilitation, automated dispenser, and surgical, out of which, the surgical division held the major share of the market during the historical period (2014–2019). This is due to the rising demand for minimally invasive robotic surgeries. 

The geriatric population has been increasing rapidly all across the globe since the past few years. A report by the United Nations stated that the number of people aged 60 years or above was 962 million in 2017, which is expected to rise to 2.1 billion in 2050 and to 3.1 billion in 2100. This increasing number of aged people is bound to add to the global healthcare burden and financial burden, owing to which, there is a need for innovative means for dealing with this situation.

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In addition to this, the demand for robotic procedures has actually been rising all over the world. As per a study in the Journal of the American Medical Association in 2020, about 15.1% of all the general surgeries in 2018 were robot-assisted procedures. The utilization of robotic surgeries has risen by 8.8% in the first four years, after the adoption of the technology in hospitals.

In addition to this, the increasing demand for minimally invasive surgeries and rising funding by government authorities for medical robots are also leading to the increasing demand for medical robotic systems in the region. Moreover, the companies operating in the regional domain are actively involved in strategic developments and are focusing on raising funds for establishing their stronghold on the market. For example, Corindus Vascular robotics Inc. raised $15 million in February 2019 in a stock offering. 

In conclusion, the market has been registering growth due to the rapid technological advancements, rising acceptance of medical robotic systems, and surging aged population.

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How are Rising Food Safety Concerns Driving Mass Spectrometry Market?

 Food quality and safety is a vital public health issue, and it has become a major concern for people these days due to the presence of chemicals, toxins, and pathogens in food. As per the University of Rhode Island Department of Food Safety Education, about 33 million people fall ill because of foodborne illnesses every year in North America. Food contamination can originate from various sources, for example food safety is affected by the quality of water that is utilized in the processing and production of food. For maintaining the quality and safety of food, the presence of required microorganisms and the ones which may lead to spoilage in food is mandatory. Hence, food companies and government authorities use various analytical techniques for monitoring contamination to detect and mitigate risks. Due to this, the demand for microbial identification devices, specifically those based on mass spectroscopy, is increasing, as this technique provides a versatile approach in testing food samples along with both qualitative and quantitative data.

Mass spectrometry technique is utilized to quantify and identify molecules in complex and simple mixtures. The identification and ascertainment are done by separating the ions based on their mass to charge ratio which is measured by making use of a mass spectrum. 

As per a study conducted by the P&S Intelligence, the global mass spectrometry market size reached a value of $4,948.3 million in 2015 and is predicted to register a CAGR of 8.1% in the coming years. Various applications of mass spectrometry include proteomics, clinical testing, environmental research, and drug discovery and development. Among all these, mass spectrometry was utilized the most for drug discovery & development during 2012–2015, as it helps in determining the structure of metabolites and drugs. The fastest growth in demand is expected to be witnessed by the application of proteomics.

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Several end users of mass spectrometry include hospitals, academic & research institutes, pharmaceuticals, and life sciences & biotechnology sector. During the period 2012–2015, the largest demand for mass spectrometry was created by the pharmaceutical firms and the situation is going to remain the same in the coming years as well. Over 80% of a medicinal product is made up of excipients, moreover, as these excipients are administered in patients, establishing their purity is of utmost importance. Therefore, to enhance the quality of pharmaceutical excipients, the International Pharmaceutical Excipients Council worked together with the Pharmaceutical Quality Group, the European Fine Chemicals Group, and the European Association of Chemical Distributors to develop a certification scheme for excipient suppliers. The legislation formulated by these organizations enforces the use of mass spectrometry for screening impurities in pharmaceutical excipients.

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What are Key Factors Powering Surge in Global Ambulatory EHR Industry?

The ambulatory EHR market is registering growth due to the rising usage of EHR solutions, adoption of healthcare intranet technologies (HCIT) and increasing government initiatives, and need for reducing the overall healthcare cost. The electronically stored medical records of patients, which include information about medical care and surgeries that do not require the patient to be admitted in a hospital or non-hospital settings, are called ambulatory EHR.

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In terms of application, the ambulatory EHR market is divided into patient management, referral management, decision support, e-prescribing, practice management, population health management, and health analytics. Among these, the practice management application occupied the largest share of the market during the historical period (2013–2016) and is projected to retain its position during the forecast period. This is due to the several advantages of EHR implementation, such as increased efficiency of day-to-day operations of healthcare practices. E-prescribing is predicted to grow at the fastest pace during the forecast period.

Another factor driving the ambulatory EHR market is the surging need for reducing overall healthcare cost. The shift from traditional data record systems to ambulatory EHR records decreases the cost associated with storing the data. While before the data stored on paper required a lot of care while handling it, now with the introduction of ambulatory EHR, the data can be electronically stored with ease. As per the data published by the University of New Mexico Hospital, the hospital saved over $200,000 annually due to reduced overtime and healthcare cost.

Hence, the market is growing due to the rising need for decreasing overall healthcare cost and increasing adoption of HCIT.

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What are the Key Factors Powering Revenue Growth in Anatomic Pathology Industry?

One of the biggest factors resulting in the increasing demand for anatomic pathology services across the world is the escalating prevalence of chronic diseases, such as hypertension, cancer, heart diseases, autoimmune diseases, liver cirrhosis, and kidney diseases, especially in low and middle-income countries (LMICs). According to a report of the World Health Organization (WHO), 9.6 million people died from cancer across the world in 2018. Furthermore, the report also states that almost 70% of the deaths from cancer occur in LMICs, which, in turn, boosts the demand for anatomic pathology screening in these countries.

The other key factor responsible for the growth of the anatomic pathology market is the soaring geriatric population across the globe. As per the World Population Ageing published by the United Nations (UN), the global geriatric population is predicted to increase from 703 million in 2019 to 1.5 billion by 2050. Additionally, the WHO reports that the prevalence of chronic diseases, such as depression, diabetes, organ failure, dementia, and pulmonary diseases, increases with age, which further pushes the need for efficient diagnosis, thereby propelling the volume of pathological tests.

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Geographically, the Asia-Pacific region is expected to observe the fastest growth in the demand for anatomic pathology testing during the forecast period. The main factors contributing to the surge in this region are the rising acceptance of personalized medicine, mushrooming patient pool suffering from chronic diseases, increasing investments by the governments of various APAC countries, as well as numerous non-government organizations, on diagnostic research, and increasing penetration of major companies in the region, which provide products for pathological screening.

Therefore, it can be concluded that owing to the ballooning need for quick and effective diagnosis of chronic diseases and rapid technological advancements in the healthcare industry, the usage of anatomic pathology testing is set to observe huge growth in the coming years.

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How is Surging Incidence of Hospital-Acquired Infections Driving Infection Surveillance Solutions Industry?

The prevalence of hospital-acquired infections (HAI) has been growing rapidly, with HAIs becoming among the key cause of mortality and morbidity in hospitalized patients, as per the World Health Organization (WHO). These infections are caused primarily by bacteria. Strains of bacteria found in medical settings are more resistant to antibiotics those found outside the hospital, owing to the fact that antibiotics are utilized frequently in hospitals. According to the WHO, about 7 and 10 of every 100 patients ion developed and developing countries, respectively, who are hospitalized, acquire at least one HAI at any given time.

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Attributed to this, the demand for infection surveillance at hospitals and other medical facilities is growing rapidly. Traditionally, the surveillance of HAIs was done by reviewing medical charts, ward rounds, and paper-based reports of microbiologic results. The analysis then was done by assembling hand-written data or entering the information into a computer database, manually. However, these methods are labor intensive, time-consuming, and quite inefficient for coping with the rising complexity of antibiotic resistance. Because of this, these methods are become obsolete and witnessing a shift to computer-based surveillance. Due to these factors, the global infection surveillance solutions market is predicted to advance at a considerable pace in the coming years.

In addition to this, a large number of key companies that offer web-based and on-premises solutions to track and check the spread of HAIs are present in the region. This being said, the demand for these solutions and associated services is predicted to increase substantially in the Asia-Pacific region, thereby making it the fastest growing infection surveillance solutions market in the years to come. This is attributed to the growing awareness and accessibility to advanced healthcare facilities, rising healthcare expenditure, surging incidence of HAIs, and expanding health insurance sector in the region.

Hence, the requirement for infection surveillance solutions is growing due to the rising prevalence of HAIs across the globe.

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Hospital Infection Therapeutics Market Overview, Key Players, Growth and Future Scope

 Hospitals or other medical facilities are particularly associated with the treatment of diseases and the idea of getting infected with a pathogen while being in the hospitals may be quite foreign to a lot of people. However, hospital infections or hospital-acquired infections affect a lot of people; for example, according to the World Health Organization, of every 100 patients that are hospitalized, at any given time, about 10 in developing and 7 in developed counties will acquire at least one hospital infection. In addition to this, newborns especially are at a higher risk of suffering from healthcare associated disease in emerging economies.

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Some of the hospital infections are catheter-associated urinary tract infections, central line-associated blood stream infections, hospital-acquired pneumonia, surgical site infections, Clostridium difficile infections, and ventilator-associated pneumonia. Much like any other infection, the risk of hospital infections depends on the patient’s immune status. Other than this, prevalence of several pathogens in the local community and infection control practices are also major factors on which hospital infection depend. Some of the major risk factors for these infections include longer hospital stays, older age, multiple underlying chronic illnesses, recent invasive procedures, immunosuppression, frequent encounters with healthcare facilities, and mechanical ventilatory support.

Geographically, North America has emerged as the largest hospital infection therapeutics market in the past few years, which is attributed to the enhanced healthcare infrastructure, increased awareness regarding healthcare, high ratio of hospitals in comparison to the population, surging aging population, and rising count of multi drug resistant microbial pathogens in the region. Apart from this, the demand for hospital infection therapeutics is also expected to increase significantly in the Asia-Pacific region because of the rising incidence of hospital infections and high requirement for therapeutic drugs in countries including China and India.

In conclusion, the demand for hospital infection therapeutics is growing due to the rising incidence of hospital infections.

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Digital Pathology of Great Importance for Geriatric Population

The prevalence of chronic diseases, including cancer, around the world has been increasing rapidly. According to the World Health Organization, cancer is among the leading causes of death, second-leading to be precise, globally, and led to about 8.8 million deaths in 2015. In addition to this, approximately 70% increase is expected to be witnessed in the number of new of cancer cases over the next two years. Like cancer, there are a number of chronic diseases which still cannot be cured and can only be managed with proper medication. 

In such cases, early detection of the disease is the key to get effective treatment for the management of the disease. Because of this, the demand for advanced technologies that can provide faster and more accurate and efficient diagnosis is rising. As per a report by P&S Intelligence, the global digital pathology market size is projected to advance at a significant pace in the years to come. The process of digitizing glass slides by making use of a whole slide image scanner for analyzing the digital images by utilizing an image viewer, such as a mobile device or computer monitor, is referred to as digital pathology.

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The geriatric population especially is widely utilizing teleconsultation services, as they make the management of chronic diseases easy and reduce the number of hospital visits. Other than this, the demand for this technology is also predicted to rise substantially for disease diagnosis in the near future because of the increasing incidence of bacterial and viral diseases. Geographically, North America is predicted to emerge as the largest digital pathology market in the years to come. This is owing to the rising healthcare expenditure and supportive government initiatives about the development of technologically innovative systems in the region. 

In conclusion, the demand for digital pathology technology is growing because of the surging prevalence of chronic diseases and increasing geriatric population.

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What are Latest Technologies in Embolotherapy Market?

More than 840,000 new liver cancer cases were diagnosed around the world in 2018, according to the World Cancer Research Fund (WCRF). Similarly, other severe diseases, such as kidney cancer, aneurysms, and varicose veins, are also increasing in prevalence due to genetic predisposition, environmental factors, sedentary lifestyle, obesity, and alcohol abuse. The treatment or management of many such issues requires deliberately blocking the blood vessels to reduce the risk of bleeding or hemorrhage or to starve the tumor of blood, by inserting a balloon.

Therefore, with the increasing prevalence of the above-mentioned disorders, the global embolotherapy market size is predicted to grow at an 8.0% CAGR during 2019–2024 (forecast period), to reach $4.8 billion in 2024 from $3 billion in 2018. In normal but life-threatening situations, a blood clot or mass breaks off from a part of the body and travels through the artery, thereby stopping the blood flow. But, because the same is now being done for managing a disease, the process is known as embolotherapy, meaning treatment by creating an embolus.

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There are three primary approaches to the procedure: transarterial radioembolization (TARE)/selective internal radiation therapy (SIRT), transcatheter arterial embolization (TAE), and transarterial chemoembolization (TACE). Among these, TAE is the preferred approach, because it has a better toxicity profile than TACE and TARE/SIRT, which means less complication for the patients. During the procedure, the inner thigh is incised, and a catheter, which is a thin, flexible tube, is snaked through the femoral artery to a smaller artery near the site of the tumor or unhealthy tissue. Once the catheter is in place, tiny gelatin sponges are administered to stop the tumor’s blood supply.

Presently, North America witnesses the highest number of such procedures, as the incidence of various diseases which require these is rising in the continent. Moreover, the continent has the most advanced healthcare infrastructure in the world, and several improved embolic agents are being launched by biopharmaceutical companies. In the coming years, the most rapid embolotherapy market growth would be witnessed in Asia-Pacific (APAC), on account of the expansion in the pool of patients with advanced-stage cancers and rising expenditure on healthcare, which is leading to improvements in the medical infrastructure in the region.

Thus, with further advancements in the management methods for cancer and other advanced-stage diseases, which would lead to the availability of enhanced embolic agents, the preference for embolotherapy would keep surging.

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Growing Prevalence of Autoimmune Diseases to Fuel $10,012.9 Million Revenue in Autoimmune Disease Diagnostics Market in 2030

The rising incidence of autoimmune diseases, growing geriatric population, advent of novel biomarkers, increasing initiatives being taken by various government and private organizations for raising public awareness about autoimmune diseases, and the soaring strategic development projects and activities being launched by the market players are the key factors fueling the expansion of the global autoimmune disease diagnostics market. Furthermore, the market is predicted to attain a valuation of $10,012.9 million in 2030, exhibiting a CAGR of 8.5% from 2020 to 2030.

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Based on product, the autoimmune disease diagnostics market is categorized into instruments and consumables and assay kits. Of these, the consumables and assay kits category is predicted to dominate the market in the future years, on account of the growing incidence of autoimmune diseases and the rising requirement for tests, such as enzyme-linked immunosorbent assay (ELISA), rheumatoid factor (RF) & anti-cyclic citrullinated peptide (CCP) antibody, and antinuclear antibody (ANA) immunofluorescence assay (IFA).

Globally, the North American autoimmune disease diagnostics market is predicted to exhibit lucrative growth in the upcoming years, owing to the rapid improvements in healthcare facilities and infrastructure, growing prevalence of autoimmune diseases, rising research activities, soaring geriatric population, and the existence of several leading market players in the region.

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Some of the major market players are A. Menarini Diagnostics S.r.l., Bio-Rad Laboratories Inc., Adaltis S.r.l., Sigma Diagnostics Inc., ORGENTEC Diagnostika GmbH, PerkinElmer Inc., Inova Diagnostics, ELITech Group, Grifols S.A., HYCOR Biomedical, Exagen Inc., Cambridge Life Sciences Limited, Trinity Biotech plc, DiaSorin S.p.A., F. Hoffmann-La Roche Ltd., Seramun Diagnostica GmbH, Siemens AG, bioMérieux S.A., Thermo Fisher Scientific Inc., Danaher Corporation, and Abbott Laboratories.

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How is Rising Healthcare Expenditure Driving Exoskeleton Industry?

The global exoskeleton market size is projected to reach a value of $6,957.9 million by 2030. The primary factor leading to the growth of the market are the rising healthcare expenditure, increasing number of stroke cases and spinal cord injuries (SCIs), surge in the penetration of products in military and industrial operations, growing geriatric population, and rising job opportunities for disabled people.

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When component is taken into consideration, the exoskeleton market is classified into software and hardware, between which, the hardware classification held the larger share of the market in 2019. Exoskeletons consist of several hardware components and passive exoskeletons are particularly constructed using hardware parts, thereby leading to the growth of the classification. The hardware classification is further divided into control systems, power sources, actuators, and sensors. On the basis of mobility, the market is divided into mobile and stationary.

Geographically, the exoskeleton market was dominated by North America in 2019, and is region is predicted to contribute the largest revenue share to the market during the forecast period as well. Exoskeletons are extensively being used by military personnel and the healthcare sector. In addition to this, the regional market is growing because of the rising workforce of disabled people and increased availability of these products. The Asia-Pacific region is expected to register the fastest growth during the forecast period.

In conclusion, the increasing number of SCIs and stoke cases and rising healthcare expenditure are driving the growth of the market.

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What are Factors Contributing to Boom of Hospital Capacity Management Solutions Market in U.S.?

The rising demand for better healthcare facilities and rapid technological advancements in the healthcare sector are the major factors fuelling the demand for hospital capacity management solutions across the world. In addition to this, the mushrooming investments being made by several healthcare information technology (HIT) companies, soaring number of hospitals, and burgeoning need for integrated healthcare solutions are further pushing the demand for these solutions throughout the world. Propelled by these factors, the global hospital capacity management solutions market is expected to exhibit huge growth in the coming years.

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Globally, North America and Europe are observing the highest usage of hospital capacity management solutions. This is primarily attributed to the increasing incidence of chronic diseases, soaring geriatric population, higher healthcare expenditure, and improving healthcare infrastructure in these regions. Moreover, the swift technological advancements in such software, the rising awareness regarding the applications of these solutions, and raging COVID epidemic are significantly contributing to the growing demand for these solutions in these regions. In North America and Europe, the U.S. and Italy, respectively, are witnessing the widest adoption of such solutions.

Latin America is another region witnessing a rapid rise in the adoption of these solutions. The main factors responsible for the boom of the hospital capacity management solutions market in LATAM are the increasing healthcare expenditure in the region, a major chunk of which is being spent on integrating IT functionalities in the medical sector. In this region, Brazil, on account of the rising support from numerous government organizations and developing healthcare infrastructure, is observing the highest implementation rate of hospital capacity management solutions.

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This Study Covers

• Historical and the present size of the hospital capacity management solutions market

• Major factors driving the market and their impact during the short, medium, and long terms

• Market restraints and their impact during the short, medium, and long terms

• Recent trends and evolving opportunities for the market participants

• Historical and the present size of the market segments and understand their comparative future potential

• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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Increasing Stem Cell Transplant Procedures Pushing Up Medical Gloves Sales in Asia-Pacific

With the recent outbreaks of various contagious diseases such as Middle East respiratory syndrome (MERS), Zika, severe acute respiratory syndrome (SARS), and Ebola, medical gloves are increasingly becoming extremely essential in healthcare operations. The outbreak of the COVID-19 (SARS CoV-2) pandemic has further pushed up the requirement for medical gloves, on account of their ability to prevent direct contact between persons, which is very essential for reducing the spread of the coronavirus.

Moreover, as the coronavirus is transmitted via direct contact and droplets, medical authorities and governments are increasingly mandating the use of medical gloves for people and healthcare workers. Researchers have found that protective medical equipment such as examination and surgical gloves reduce the spread of infection by a huge margin. Apart from contagious diseases, the increasing incidence of chronic diseases is also driving the sales of medical gloves across the world.

As per a study conducted by P&S Intelligence, the medical gloves market size is progressing at a 10.8% CAGR during the forecast period. The market has been registering growth due to the increasing risk of contagious diseases, rising volume of surgeries, surging geriatric population, growing healthcare spending, and increasing burden of chronic diseases across the globe.

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As per the Organisation for Economic Co-operation and Development (OECD), in Japan, 5,032 stem cell transplant procedures were performed in 2010. Furthermore, the country witnessed a sharp rise in stem cell transplants in the next few years and recorded 5,609 procedures in 2015. Similarly, the number of transluminal coronary angioplasties increased in Australia from 37,600 to 45,517 from 2010 to 2017. This massive rise in the number of surgeries pushed up the sales of medical gloves in the country.

Therefore, it can be said without any doubt that the sales of medical gloves are predicted to rise enormously all over the world in the coming years, primarily because of the growing incidence of contagious and chronic diseases, the recent outbreak of the COVID-19 pandemic, and the rising awareness about hygiene among the people and healthcare practitioners.

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How is Increasing Focus on Personalized Medicine Driving Cancer/Tumor Profiling Market?

Every year, over 9.5 million people die as result of cancer, as per the World Health Organization (WHO), thereby becoming one of the major reasons for human mortality around the world. The disease, which is most prominently characterized by the presence of tumors, forms when a mutation (undesirable change) in a gene or protein causes a particular type of cell to divide faster than the rate of the normal cell death, thereby resulting in the growth of a visible mass. For effective treatment, merely detecting the tumor within the body is not enough; its nature and the exact mutation which caused it also need to be studied.

Therefore, owing to the increasing number of people suffering from this disease and the high focus on deeply studying its various aspects, in order to device an effective therapy, the cancer/tumor profiling market is growing around the world. Several technologies, including quantitative polymerase chain reaction (QPCR), next-generation sequencing (NGS), in-situ hybridization (ISH), immunohistochemistry (IHC), and microarray, are used to study the tumors. Of these, NGS has been the most widely preferred till now, on account of its ability to quickly detect the sequencing of the deoxyribonucleic acid (DNA) in the genome.

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Another important application area of cancer/tumor profiling is biomarker discovery. A biomarker is any substance against which the reaction of a disease is studied to determine its nature and severity. The most common biomarkers are antigens, which help detect the presence of infections. Seeing the rising complexities in cancer diagnosis, many biotechnology firms are coming up with innovative biomarkers for effective diagnosis. For instance, several biomarkers have been developed by Caris Life Sciences, by using ISH, IHC, and NGS, for the detection of translocation, protein expression, and fusion levels, analysis of gene amplification and deletion, and broad detection and rapid examination of DNA mutations.

Presently, the most productive cancer/tumor profiling market is North America, on account of the heavy investments in cancer research and therapy areas. Moreover, numerous technological advancements are taking place in the healthcare industry of the region, which are resulting in the introduction of more-advanced profiling techniques. In the region, the prevalence of common as well as rare cancers is rising, which is leading to increasing complexities in the diagnosis procedure. Asia-Pacific (APAC) would witness the fastest increase in the adoption of cancer/tumor profiling approach in the immediate future, due to the increasing government funding for cancer research and treatment, as well as rising cases of the disease.

Therefore, on account of the improvements in diagnosis methods, the demand for cancer/tumor profiling products and services will keep surging.

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How is Surgical Staplers Market Growth a Reflection on Providing Better Post-Operative Care?

Almost 18 million people fall victim to cardiovascular diseases (CVD) each year, according to the World Health Organization (WHO), thus becoming the diseases with the highest mortality rate. Among CVDs, coronary artery disease and stroke are among the deadliest, with the former killing around 7.4 million and the latter about 6.7 million annually. A lot of these diseases require surgery, and with the increase in the prevalence of CVDs, the number of surgeries being performed around the world is also rising. Sutures, which consist of a needle and thread, are the most common instruments used to close the incisions.

But, with the increasing focus on the post-operative phase, the surgical staplers market is growing. Just like staplers are used to hold together pieces of paper, surgical staplers are used to hold together the edges of wounds and incised tissues, to promote healing. Compared to sutures, staplers are considered more efficient at the wound healing process. Additionally, they also lead to less post-operative inflammation (swelling) and pain, which is desirable among patients. Another reason staplers are replacing sutures is that they are easier to extract after serving their purpose.

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In addition to necessary surgeries, the volume of elective procedures, mostly for aesthetic and cosmetic purposes, is also rising. With the surging exposure of the digital world — social media, magazines, and TV — people around the world have become more conscious of their appearance. This is why not only are people going for surgeries with the primary purpose to enhance their appearance, but also opting for the minimally invasive approach to life-saving surgeries. Minimally invasive procedures involve operating in a way which leads to minimal cuts and scarring on the body. As staplers are better in this area than sutures, the use of the former is rising.

Across the globe, North America accounts for the highest adoption of staplers in surgery, as its geriatric population is quite high. With age, people lose their immunity and physical strength, which is why they get sick or hurt themselves quite often. Such people also have less platelets and subcutaneous tissue, which is why even a small cut can take longer to heal, thus requiring medical intervention in the form of staplers and sutures. Because of the same reason, of the increasing population of the elderly, Asia-Pacific would observe the fastest surgical staplers market growth in the coming years.

Therefore, as the healthcare fraternity takes steps to provide better post-operative care after surgeries, the number of which is rapidly escalating, the demand for surgical staplers would go up further.

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How is Stem Cell Therapy Fuelling Growth of Global Biobanking Market?

The rising incidence of chronic diseases and the surging number of research and development (R&D) activities being conducted on genome are the major factors predicted to cause the surge of the global biobanking market, from $25.8 billion to $36.8 billion from 2018 to 2024. In addition to this, the market is predicted to exhibit a CAGR of 6.2% between 2019 and 2024, as per the forecast of P&S Intelligence, a market research company based in India.  

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The soaring prevalence of diabetes, Parkinson’s disease, and Alzheimer’s disease is massively boosting the demand for stem cells and cord blood cells (that contain the stem cells) all over the globe. The treatment procedures involving stem cells have the ability to help significantly in organ transplantation, tissue grafting, drug testing, and the development of regenerative medicines. Thus, because of the various advantages of stem cell therapies, their popularity is rapidly growing, which is, in turn, boosting the demand for biobanks across the world.

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During the next several years, the Asia-Pacific biobanking market is predicted to register huge growth, on account of the rising awareness amongst the masses about biobanking, soaring population levels and surging clinical research activities in the various APAC countries. Furthermore, the advancement of the biotechnology sector, on account of increasing investments by public and private organizations and ballooning R&D activities, will majorly contribute toward the expansion of the market in the region in the forthcoming years.

Therefore, it can be safely said that the market will exhibit sharp growth in the upcoming years, on account of the increasing R&D activities in the healthcare and biotechnology sectors and the rising prevalence of chronic diseases across the world.

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Growing Incidence of Factory Deaths Augmenting Demand for Personal Protective Equipment

The implementation of strict regulations and policies regarding occupational safety and health in several countries in the recent times has positively impacted the sales of personal protective equipment. Moreover, with the outbreak of the COVID-19 pandemic and the rising awareness among people about personal safety, the demand for personal protective equipment is growing massively across the world. In many countries, the rising incidence of workplace fatalities, especially in the manufacturing sector, is rapidly becoming a major concern.

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In the U.S., the Occupational Safety and Health Administration has laid down several codes of federal regulations (CFR), which make it mandatory for the employers to enact stringent safety regulations in their workplaces for protecting their employees from various hazards that can cause deaths and injuries. The prominent CFRs include the usage of head protection, face and eye protection, electrical protective equipment, hand protection, and foot protection. The non-compliance of these regulations can attract huge fines and penalties.

Due to the aforementioned reasons, the sales of personal protective equipment are rising sharply all over the world, which is, in turn, causing the expansion of the global personal protective equipment market. Oil and gas, manufacturing, transportation and logistics, and construction are the major industries in which these protective tools are heavily required, as per the findings of P&S Intelligence, a market research firm based in India. Globally, the sales of these instruments are significantly high in the U.S.

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Apart from the U.S., the Asia-Pacific region is also observing huge sales of personal protective equipment, primarily because of the rising industrialization and the growing population levels in the regional countries such as India, Japan, and China. In the future years, the personal protective equipment market is predicted to surge sharply in Indonesia, Brazil, and Vietnam. The market is also growing explosively in several European nations such as France, Russia, the U.K., and Germany. 

Thus, it is quite clear that due to the growing enactment of stringent workplace safety regulations and policies in several countries, the rising public awareness of personal safety, and the outbreak of the COVID-19 pandemic, the demand for personal protective equipment is rising at a rapid pace throughout the world.

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How is Geriatric Population Contributing to Growth of Global Mobile Health Market?

 The increasing penetration of internet across the world is one of the key factors responsible for the surge in the demand for mobile health (mHealth) technology. Due to the development of affordable 3G and 4G spectrum and numerous mobile applications, the number of mobile phone users is soaring in several countries. As per the World Bank development indicators, 44 out of 100 people were found to use internet globally in 2016. As per the China Internet Network Information Center (CNNIC), the country had 731 million internet users in 2016, with 95% of them being mobile users.

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The rising prevalence of various lifestyle-associated diseases and ailments and rapidly growing population are the other important factors pushing the demand for mhealth technology across the globe. Since the last few years, there has been a huge growth in the number of integrated mobile applications and connected medical devices and these have significantly boosted the adoption of mobile health technology. mHealth allows the doctors to diagnose the patients and provide them personalised treatment plans with the help of effective data capturing, visualization, and analysis provided by the integrated mobile applications.

Driven by the above-mentioned factors, the global mHealth market generated revenue of $23.0 billion in 2017 and is further expected to attain a value of $132.2 billion by 2023, demonstrating a CAGR of 33.5% during the forecast period. The mHealth services available throughout the world include diagnosis and consulting, preventive services, healthcare system strengthening services, treatment services, remote monitoring, and fitness and wellness services. Additionally, connected devices and mHealth apps are also available.

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Therefore, it can be concluded that owing to the rising geriatric population levels in several countries, increasing occurrence of chronic diseases, and the growing number of internet and smartphone users, the demand for mHealth technology will increase rapidly over the next few years.

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Rising Cancer Prevalence Driving Molecular Cytogenetics Market Growth

The increasing cases of cancer, usage of pharmacogenomics for drug development and disease management, enhancements in molecular cytogenetics and its expanding application in agriculture, requirement for predicting chromosomal abnormalities based on genes, and surging geriatric population are driving the usage of molecular cytogenetics. From $1.8 billion in 2017, the global molecular cytogenetics market size is projected to reach $3.3 billion by 2023, at a 9.9% CAGR during 2018–2023 (forecast period). The term refers to the study of chromosomes, their structure, and location and function in cells, in order to detect inherited diseases.

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Consumables, instruments, and software and services are the various market categories, when segmented by offering. In 2017, consumables dominated the industry, with a 40.0% revenue share, on account of the increasing usage of antibiotic/antimycotic solutions, media, salt solutions, disposables, and ancillary reagents in laboratories, for research. During the forecast period, software and services would observe the highest CAGR in the molecular cytogenetics market, of 10.5%, due to the rapid automation of laboratory processes and outsourcing of costly services.

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North America led the molecular cytogenetics market in 2017, with a revenue share of 46.4%. This is attributed to the rise in the number of people suffering from cancer and other genetic disorders, better healthcare infrastructure than in other regions, and usage of improved technologies, including next-generation sequencing. With an 11.8% CAGR, Asia-Pacific would display the fastest industry prosperity during the forecast period, as the market here is untapped, the population is high, and global market players are entering it.

Hence, as cancer becomes an even bigger problem than presently and the agrarian community looks for ways to improve the crop, the usage of molecular cytogenetics would increase further.

This Study Covers

• Historical and the present size of the molecular cytogenetics market

• Major factors driving the market and their impact during the short, medium, and long terms

• Market restraints and their impact during the short, medium, and long terms

• Recent trends and evolving opportunities for the molecular cytogenetics market participants

• Historical and the present size of the market segments and understand their comparative future potential

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How is Growing Preference for Home Healthcare Driving Auto-Injectors Market?

These days, people are becoming more and more inclined toward home healthcare, especially elderly people. Home healthcare allows one to get better in a more comfortable and convenient way. The need for revisiting hospitals frequently for treatment is reduced significantly, and the patient is able to improve or maintain his/her condition in a more independent way. Attributed to these reasons, manufacturers across the globe are increasingly focusing on developing medical equipment which is patient-compliant and user-friendly. Moreover, due to the enhancing medical services at the bed side, the point-of-care medication administration is also increasing.

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One of the major developments in this scenario is that of auto-injectors, which are pen-like medical devices utilized for injecting a specific dose of drugs into the patient. These spring-loaded syringes are especially designed for the safe administration of drugs with ease. Auto-injectors further aid in reducing medication errors and increasing safety. It is due to these advantages of auto-injectors over traditional devices that the auto-injectors market is expected to register a significant growth in the coming years. Prefilled and fillable are two types of auto-injectors, which are available in the market currently; between these, prefilled auto-injectors were more in demand in the past.

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The prevalence of anaphylaxis, which is a potentially life-threatening allergic reaction, is growing rapidly across the globe. The reaction can occur almost immediately after being exposed to something that the person is allergic to, such as bee stings or peanuts. Anaphylaxis occurs when the immune system releases a flood of chemicals which can send the person into shock— the blood pressure drops in an instant and airways constrict, thus blocking breathing. The treatment of this condition requires an epinephrine injection. The reaction needs to be dealt with the right away or else it can be fatal. Because of this, the demand for auto-injectors is increasing as well.

Geographically, North America has emerged as the largest auto-injectors market, which is ascribed to the rising cases of diabetes, growing production of biologics, and surging geriatric population. The adoption of auto-injectors is growing rapidly in Europe as well, owing to the rising awareness regarding needle-stick injuries, increasing cases of anaphylaxis, and growing healthcare expenditure in the region. The emerging countries, including India and China, are also predicted to increasingly adopt auto-injectors in the near future, because of the rising healthcare awareness.

Hence, the need for auto-injectors is rising because of the increasing prevalence of anaphylaxis and preference for home healthcare.

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How is Increasing Usage of Drugs Driving Drug of Abuse Testing Market?

 Peer pressure, particularly among young adults and school children, can result in some bad decisions, such as usage of drugs. Drug abuse, also known as substance abuse, is the utilization of certain chemicals for pleasuring the brain, which end up causing more harm than benefits, in the long run. There are about 190 million people across the world who use drugs, and the number is increasing at a substantial pace, primarily among people under the age of 30. Among the different types of drugs, hashish, cannabis, and marijuana are the most extensively abused ones across the globe. Approximately 141 million people consume cannabis, and about 30 million people take ecstasy and amphetamines.

Because of the rising prevalence of drug abuse, the need for testing these substances in the body is increasing rapidly. Drug of abuse testing is done for both legal causes, including workplace drug testing, and for medical purposes. Testing is basically performed for detecting illicit drug use and/or for monitoring medication compliance. As per P&S Intelligence, the global drug of abuse testing market is predicted to grow significantly in the near future, on account of the surging consumption of illegal drugs and high trade and production of these substances.

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Consumables, such as assay kits & reagents and rapid test kits, and equipment, including breath analyzers, immunoassay analyzers, and chromatography instruments, are utilized for tracking drug abuse. As consumables are easily available for utilization and provide swifter test results as compared to equipment, their demand was higher in the past. Rapid test kits are projected to be in need the most in the coming years, owing to the fact that they are easy to use. Apart from this, the demand for breath analyzers is also expected to grow in the near future, because they can easily detect the presence of alcohol and drugs in the breath and are less expensive than other analyzers.

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When geographical scenario is taken into consideration, North America emerged as the largest drug of abuse testing market in the past, which is ascribed to the growing workplace monitoring activities for the consumption of illicit drugs, increased availability of banned substances, and rising drug trafficking activities in the region. According to the National Institute on Drug Abuse, about 24.6 million Americans aged above 12 years, which is 9.4% of the total population, were using illicit drugs in 2013. In addition to this, Asia-Pacific is also projected to witness a rise in drug of abuse testing in the coming years, because of the growing compliance in organizations to workplace drug of abuse testing.

This Study Covers

• Historical and the present size of the drug of abuse testing market

• Major factors driving the market and their impact during the short, medium, and long terms

• Market restraints and their impact during the short, medium, and long terms

• Historical and the present size of the market segments and understand their comparative future potential

• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders

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Why are Developed Regions Witnessing Robust Radiation Dose Management Market Advance?

With the discovery of X-rays by German physicist Wilhelm Conrad Röntgen on November 8, 1895, the field of diagnostics transformed forever. Soon, it became the go-to technology for orthopedists to see the bones inside the flesh and detect anomalies. Now, though the technology helped, it also caused problems because of the ionizing radiation contained in these rays. In the 1990s, numerous radiation-related skin injuries were reported to the U.S. Food and Drug Administration (FDA), which led to the creation on a set of guidelines for managing the radiation given off by X-ray and fluoroscopy machines (which also use X-rays).

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These concerns regarding radiation sickness, which can result in common symptoms such as fainting, nausea, confusion, diarrhea, vomiting, mouth and skin sores, hair loss, and bleeding, and, in extreme cases, cancer, have birthed the radiation dose management (RDM) market, which is now growing steadily around the world. RDM is majorly done using computer software which track, study, and report data on the radiation being given off by various radiology machines. With further enhancements in technology, the data is now being stored and shared over cloud.

As most such solutions are being used in developed countries, due to the stricter guidelines there than in other nations, North America and Europe are currently the forerunners in the adoption of this concept. North America is presently the largest radiation dose management market, because a huge number of CT and X-rays are performed here on a daily basis, which automatically raises the risk of radiation overexposure. Since medical imaging is essential here, owing to the high prevalence of chronic diseases in the region, the RDM guidelines, especially those released by the FDA and Medical Imaging and Technology Alliance (MITA), are rather strict.

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Thus, with the dangers of high radiation exposure coming to light, various new standards are expected to be set, in order to keep it to the minimum, which would ultimately impel healthcare centers to adopt RDM solutions.

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Demand for Defibrillators Highest in North America

The lifestyle of people has changed drastically over the past few years, and the surging consumption of high-calorie food, sedentary lifestyle, increased obesity levels, and growing consumption of tobacco has resulted in the rising incidence of heart-related ailments. While before heart-related diseases used to affect aged people, these days, youngsters and adults are also being affected by these diseases. As per the World Health Organization, about 17.9 million people died because of cardiovascular diseases in 2016, which represented 31% of the total number of deaths across the globe.

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Attributed to this, the demand for defibrillators is increasing around the world. Defibrillators are medical devices which are needed for restoring normal heartbeat by sending an electric shock or pulse to the heart. They are majorly utilized for preventing or correcting arrhythmia, a heartbeat which is uneven, too fast or too slow. These devices can also be of help if the heart stops suddenly. According to a report by P&S Intelligence, the global defibrillator market size is predicted to $20,281.6 million by 2030, rising from $9,621.2 million in 2019, and is projected to advance at a 7.2% CAGR during the forecast period (2020–2030).

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The two types of defibrillators are external defibrillators and implantable cardioverter defibrillators (ICD), between which, the demand for ICDs was higher in the 2019. This can be ascribed to the rising number of product launches and increasing focus of companies in the domain on technological advancements. ICDs are further of two types, namely subcutaneous implantable cardioverter defibrillators and transvenous implantable cardioverter defibrillators. These devices are made for both adult and pediatric use, however, the need for these devices is higher for adult patients and the situation is expected to remain the same in the years to come as well.Geographically, the defibrillator market is being dominated by North America, and the region is also predicted to create the largest demand for these devices in the years to come as well. This can be attributed to the rising investments by public and private organizations for supporting research and development for defibrillators. In addition to this, the presence of major companies, highly advanced healthcare infrastructure, and favorable reimbursement policies, allowing patients to afford expensive medical care, in the region are also resulting in the increasing demand for defibrillators. 

In conclusion, the changing lifestyle of people, resulting in increasing incidence of cardiovascular diseases, is resulting in the growth of the market.

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Why is Rising Chronic Disease Prevalence Significant for Healthcare Cognitive Computing Market Growth?

 Around the world, the number of clinical trials and drugs being discovered is increasing, which is leading to the generation of massive volumes of data. To assimilate and analyze all this data to understand the medical condition of patients and offer effective therapy, the use of machine learning, natural language processing (NLP), information retrieval, and automated reasoning is rising around the world. Numerous hospitals in Europe and North America have already integrated these advanced technologies in their operations. For instance, the Roald Dahl Foundation, which is a charity organization, and Alder Hey Children’s Hospital adopted these solutions in May 2016.

Thus, with the rising incorporation of these technologies in patient care, the healthcare cognitive computing market, which valued $1,722.0 million in 2017, is projected to grow to $13,300.0 million by 2024, at a CAGR of 34.0% during 2018–2024 (forecast period). Among the above mentioned technologies, NLP is the most widely used, and its integration rate in healthcare settings would also rise the fastest in the coming years. This is attributed to the ability of this cognitive computing technology to convert human speech to computer language, which ultimately results in better patient care.

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Presently, the flag bearer of the healthcare cognitive computing market is North America, on account of the rapid drug development being pursued by the major pharmaceutical companies, increasing spending on healthcare, growing geriatric population, and surging number of hospitals. Additionally, technology companies, medical research firms, and healthcare providers are rapidly entering into collaborations, regarding the various cognitive computing technologies. In the immediate future, though the net adoption of the technologies will be highest here, the fastest rise in their procurement will be seen in Asia-Pacific (APAC), for almost similar reasons as in North America.

Browse full report at: https://www.psmarketresearch.com/market-analysis/healthcare-cognitive-computing-market

This Study Covers

• Historical and the present size of the healthcare cognitive computing market

• Major factors driving the market and their impact during the short, medium, and long terms

• Market restraints and their impact during the short, medium, and long terms

• Recent trends and evolving opportunities for the healthcare cognitive computing market participants

• Historical and the present size of the market segments and understand their comparative future potential

• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders

• Major players operating in the market and their service offerings

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Why will Medical Coding Market Boom in Asia-Pacific in Future?

 One of the major factors boosting the demand for medical coding is the increasing prevalence of insurance frauds in the healthcare industry across the globe. These frauds cause huge financial losses to businesses, so much so, that companies record losses amounting to billions of dollars every year, as reported by the National Health Care Anti-Fraud Association (NHCAA). In the U.S., almost $3.6 trillion was spent on the healthcare industry in 2018, which included the expenditure on public health activities and healthcare services, representing billions of insurance claims. It was later found that some of those claims were fraudulent. 

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The other important factor responsible for the mushrooming adoption of medical coding in the healthcare facilities is the increasing requirement of modernized hospital billing procedures throughout the world. In addition to this, the incorporation of medical coding systems, particularly the current procedural technology (CPT) medical code, that has been created by the American Medical Association (AMA) for assisting in the standardization and facilitation of medical billing procedures, has enhanced the effectiveness of the medical billing procedure.

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Due to the above-mentioned factors, the global medical coding market will observe a huge jump in its valuation, from $15.2 billion to $42.4 billion from 2019 to 2030. The market is predicted to grow at a CAGR of 9.6% during 2020—2030. Hospitals and diagnostic centers are the main end users of medical coding solutions. Between the two, the hospitals are predicted to record higher adoption of medical coding procedure in the future years. This is ascribed to the increasing incidence of chronic diseases, increasing setting up of hospitals, and soaring number of patient visits all over the world.

Hence, it can be safely said that the adoption of medical coding will increase tremendously in the healthcare settings throughout the world over the next several years, mainly because of the increasing prevalence of insurance frauds across the globe.

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What is the Role of Technological Advancements in Growth of Benign Prostatic Hyperplasia Procedures?

According to a report by P&S Intelligence, the benign prostatic hyperplasia procedures are predicted to advance at a 2.3% CAGR during 2017–2023. The enlargement of the prostate gland is referred to as BPH. The prostate surrounds the urethra, which is the tube that carries urine from the bladder out of the body. The growth of the prostate gland may squeeze or partly block the urethra, which can cause problems while urinating. 

The condition is common in aging men and approximately half of all men between the ages of 51–60 are affected by BPH. It has further been observed that nearly 90% of men over the age of 80 years suffer from BPH. On the basis of type, the market is divided into laser-based procedure, surgical procedure, and other energy based procedure, out of which, the number of laser-based procedure is predicted to witness the fastest growth during the forecast period.

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This procedure is just as effective as surgical procedures, and further decrease the hospital stay time. The surgical procedure division held the larger share in the BPH procedures in the past, owing to the rising prevalence of BPH disorders. When end user is taken into consideration, the market is categorized into ambulatory surgery centers, hospitals, and specialty clinics. Among these, the hospitals category held the major share of the market in the past followed by ambulatory surgery centers and specialty clinics.

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A key trend being witnessed in the BPH procedures is the technological advancements in the BPH treatment due to the high number of outpatient procedures. The utilization of minimally invasive procedures, including laser-based treatments, has risen considerably owing to technological advancements in urology. Several treatment methods, including the utilization of pulsed electromagnetic field therapy and Rezum system, are being developed for treating BPH. Dr Allen’s device is one other technologically advanced BPH treatment devices.

Hence, the BPH procedures are being driven by the rising prevalence of BPH and technological advancements in the domain.

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How is Growing Preference for Minimally Invasive Procedures Driving Interventional Radiology Market?

The thought of getting a surgery done is often fearful for people, however, these days, just every other thing has become easy, conduction surgeries for treating diseases has also become comparatively simpler and safer. This is due to the advent of minimally invasive surgeries, whereby the surgeon uses a number of techniques for operating with less damage to the body than is done with open surgery. Patients prefer minimally invasive surgeries because they are associated with less pain, fewer complications, and a shorter stay at hospitals. One of the minimally invasive techniques is interventional radiology.

Interventional radiology basically refers to number of techniques that rely on the usage of radiological image guidance in order to target therapy precisely. According to a P&S Intelligence report, in 2018, the global interventional radiology market generated a revenue of $19.0 billion and is expected to attain a value of $27.3 billion by 2024, advancing at a 6.4% CAGR during the forecast period (2019–2024). Different types of products utilized for image guidance during interventional radiology procedures are angiography systems, magnetic resonance imaging systems, ultrasound systems, and computed tomography. Because of the growing prevalence of birth disorders and chronic diseases around the world, the demand ultrasound systems is predicted to increase in the coming years.

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The geriatric population in the Asia-Pacific region is surging along with the prevalence of chronic diseases, due which the need for interventional radiology systems is expected to rise in the coming years in the region. While in the past, the healthcare system in most of the countries in APAC was under developed, now the expenditure in the sector is growing for improving the healthcare infrastructure. In addition to this, scientific meetings and training programs are being conducted in the region for interventional radiology.

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For example, the APAC Society of Cardiovascular and Interventional Radiology conducted the 14th Annual Scientific Meeting for exchanging knowledge regarding cardiovascular and interventional radiology based latest applications and techniques among radiologists and medical doctors in different geographies of the region. The meeting was held on February 21st to 24th, 2019 in Indonesia, at the Bali Interventional Convention Center. Such initiatives are projected to result in the growth of the interventional radiology market in APAC.

In conclusion, the demand for interventional radiology is rising due to the rising prevalence of chronic diseases and increasing demand for minimally invasive procedures. 

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