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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