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Global Diabetes Care Devices Market Report

diabetes

Global Diabetes Care Devices Market Report

The revenue graph of the diabetes care devices market has been witnessing considerable momentum in recent years owing to the increasing usage of self-monitoring blood glucose and insulin delivery devices. Obesity, smoking, genetic mutations, a sedentary lifestyle, unhealthy diet have led to an escalation in the number of diabetes patients. The occurrence of diabetes is gradually rising, such that more than 1 in every 10 adult individuals or 12.2% of the U.S. population aged 18 years or older is affected with it. Diabetes is considered as the seventh leading cause of death.

According to WHO, 422 million adults globally are diabetic patients, 1.6 million deaths are directly attributed to diabetes each year and 1 in 3 adults aged over 18 years is overweight and 1 in 10 is obese. In essence, all these statistics demonstrate the rapid growth in the number of diabetic patients which has driven the growth prospects of the diabetes care devices industry. According to a research report by Global Market Insights, Inc., the revenue portfolio of the diabetes care devices market will exceed USD 41.5 billion by 2025.

Diabetes is increasing among adults as well as children due to the prominence of an indolent lifestyle. In 2016, 41 million infants and young children were reported to be obese or overweight, 124 million children and adolescents were obese which counts to be a tenfold increase in the last four decades and nearly 1 in 5 children and adolescents are overweight or obese. Obesity is the primary cause which has led to the prevalence of diabetes as almost everyone prefers to enjoy an unhealthy lifestyle without realizing the significance of physical wellness. As per the Pan American Health Organization (PAHO), around 305,000 people died due to type 2 diabetes in America in the year 2014.

Increasing count of deaths due to diabetes has intensified the sales of diabetic care devices. The latest technologies and devices are being preferred over traditional techniques due to their ability to deliver accurate results. Launched recently, Senseonics’s Eversense Continuous Glucose Monitoring (CGM) system is one such unique and revolutionary device. Termed as the first implantable device to measure glucose level, Eversense CGM has received approval from the U.S. Food and Drug Administration (FDA) which is being touted as a groundbreaking step forward in the dynamic diabetic management world.

The device uses a unique light-based technology to send glucose level data to an app on cell phone, warning patients about their rising or dropping glucose level. It can be worn up to 90 days which is impressive as Dexcom and Medtronic’s sensor technology can be used for up to 10 days only. Eversense CGM is one of many innovations unveiled by medical device makers to check on diabetes and demonstrates the enormous growth opportunities being opened up for the diabetes care devices industry.

Numerous innovations in the healthcare sector have ensured that several options and product ranges are available to keep a check on diabetes. Many of these are in the pipeline and are awaiting regulatory approval. For instance, a ready-to-use glucagon emergency pen by Xeris Pharmaceuticals is awaiting regulatory approval from FDA depending upon the meeting in June 2019. Apparently, there are a number of devices in the early production phase or are seeking FDA approval – a factor that would benefit the growth prospects of diabetes care devices market.

Moreover, myriad studies are being carried out today to find out new approaches to manage diabetes. For instance, the Juvenile Diabetes Research Foundation (JDRF) is a non-profit organization which offers funding to cure type 1 diabetes (T1D). The organization has invested over $2.2 billion in research funding since its inception. A T1D patient Lindsey Redepenning is a commendable example of recovery through Medtronic 670g Artificial Pancreas hybrid closed-loop system developed with the contribution of JDRF. Implantation of artificial pancreas is a new technology that effectively helps in curing T1D by releasing insulin in with changing blood glucose levels in a similar way to a human pancreas.

In a nutshell, rising number of R&D investments and consistent efforts of non-profit organizations like JDRF will propel diabetes care devices market share. Additionally, the launch of technologically-superior and highly efficient blood glucose measuring devices is likely to assist the diabetes care devices market in registering exponential growth in the times to come.

Source: Global Market Insights

medical electronics

Global Medical Electronics Market Report

Medical Electronics Market size is set to cross US$ 169 billion by 2025 with13% CAGR confirms a recent research report by Global Market Insights. What can only be construed as an innovation that may impact India’s medical electronics industry to quite an appreciable extent, Philips, a renowned brand across the electronics sector, has recently launched two new diagnostic instruments, namely, MobileDiagnost Opta and BV Vectra in India.

The former, a digital X-ray system, has been designed to find extensive applications in intensive care units and operation theatres. BV Vectra, on the other hand, is a mobile C-arm system that is anticipated to be used in orthopedic surgeries. With the presence of three major electronic equipment manufacturers – Siemens, GR, and Philips, and their objective to manufacture the contemporary ‘Made-in-India’ medical devices, it is anticipated that India’s medical electronics market will experience lucrative growth in the years ahead.

Bringing forth a slew of product innovations in the market has been touted as a major growth strategy for businesses, particularly in the medical electronics industry, given the robust requirement of the healthcare space to enhance operational efficiency and lower medical care expenditure. Kinpo Electronics Incorporation, for example, has recently received the EU certificate that approves its newly launched wearable ECG monitor, called the BC1 patch that apparently helps in the prevention of cardiovascular disease. The medical certification allows the firm to promote BC1 within the European Union.

Kinpo expected to commence product marketing in key European countries by the third quarter of 2017 under its own brand referred to as XYZlife. The device provides real-time monitoring, data pertaining to medical history, and authentic medical reports, in addition to encompassing an exceptional function that helps users to contact physicians during emergencies. Experts cite that the BC1 patch is likely to prompt industry rivals to introduce similar products in the market, which would undeniably impel the product landscape of the medical electronics industry.

Recently in 2017, Mackenzie Health, a renowned healthcare service provider based in Canada, had collaborated with Epic systems corporation, a U.S. based software developing firm, to introduce a new end-to-end electronic medical record system in Canada. The innovative tool assists medical practitioners in the decision-making process and facilitates speedy access of medical health records, in addition to providing improved medication safety and minimizing error occurrences related to closed-loop medication administration & bar code authentication. This medical system is the first of its kind launched across the country and is predicted to have a sizable impact on the U.S. medical electronics industry, which apparently held more than 90% of the overall revenue share in 2016.

The competitive landscape of the medical electronics market has witnessed numerous M&As for the last few years. In fact, recently, Becton, Dickinson and Company, a leading player across the medical technology industry, has declared the acquisition of Caesarea Medical Electronics, a key Israel based player across the infusion pump systems industry.  The acquisition will help the former expand its infusion pumps product portfolio, thereby facilitating the firm to strengthen its position across the medical electronics market.

The U.S. has been singled out as one of the most profitable growth avenues across the North America medical electronics industry, subject to the large presence of major manufacturers in the region and the extensive deployment of advanced technology. The wide insurance coverage provided under the Affordable Care Act and the appreciable improvements in healthcare infrastructure facilities across the region are certain to provide a positive impetus to U.S. medical electronics market.

Some of the firms partaking in the medical electronics market share include Toshiba Corporation, Siemens, GE Healthcare, Medtronic Public Limited Company, and Phillips. Most companies have been reported to be adopting new strategies to expand their business scope, contributing extensively to medical electronics market revenue.  Considering the developments that the medical electronics industry is replete with, it comes as no surprise that the medical electronics market is slated to hit a revenue margin of over USD 169 billion by 2025.

Source: https://www.gminsights.com/industry-analysis/medical-electronics-market

wearable medical device

Global Wearable Medical Device Market

The global wearable medical device market size is expected to exceed more than $87bn by 2025; Growing at a CAGR of more than 39.4% in the given forecast period.

The increasing convergence between wearables and medical products has proved beneficial in transforming wearable medical devices market outlook. Having emerged as one of the most profitable niche verticals in the worldwide healthcare and medical devices sector, this industry is not yet a mainstay in the field, but most medical device manufacturers are nevertheless adding wearable components to their product lines. These fitness trackers help users to stay in shape, all while being easy to use, comfortable, and not cumbersome.

The foremost factors that have led to the increasing popularity of wearable medical devices are active promotion and growing expenditure on advertisement of these devices, essentially enlarging the geographical reach of wearable medical devices market. Amongst all the existing wearable medical devices, activity/fitness monitors have witnessed meteoric rise in their popularity owing to the technological advances in battery, sensor, and material design.

What will be the impact of the popularity of fitness monitors on wearable medical devices market outlook?

In the year 2018, fitness monitors segment accounted for more than 25% of wearable medical devices market share and is projected to observe significant growth by the year 2025. Activity monitors help to keep track on fitness-related metrics including walking distance, sleep (in some cases), heartbeat, and calorie consumption. Sedentary lifestyle has led to disorders such as obesity and other chronic conditions, a need to prevent which will help to fuel activity monitors segment growth over 2019-2025. The growth of activity monitors segment will simultaneously augment wearable medical devices industry by 2025.

Wearable medical devices market to accrue substantial profits from fitness and sports sector by 2025

Wearable medical devices market forecast report compiled by Global Market Insights Inc. projects that global revenue of the industry slated to exceed $87 billion by 2025. The proliferating union of medical products and wearables has proved favorable in transforming wearable medical devices market trends. After emerging as one of the most lucrative niche verticals in the global healthcare and medical devices sector, many medical device manufacturers have been including wearable devices in their product lines.

In terms of geographical expansion, the U.S. wearable medical devices market has witnessed considerable growth and is anticipated to reach more than USD 23 billion of revenue by the year 2025. The most significant factors that have proved beneficial for the market are the launch of technologically advanced healthcare monitoring products along with rising awareness regarding fitness. High disposable income and growing prevalence of lifestyle diseases would further proliferate the U.S. wearable medical devices industry size over the forecast duration.

The largest obstacle that is hindering the rapid product penetration is the concern regarding data privacy. Most users appear uncomfortable with an AI-based sensor or other miniaturized electronic device keeping a record of their every movement. Even though there has been a considerable increase in the number of people allowing these devices to become a part of their daily life, there is still a long way to go for wearable medical devices to become mainstream.

It is imperative to take note of the fact that the healthcare sector used to function in a siloed structure for the safeguarding of intimate patient data. However, now that they have emerged out of those silos, the protection of user data has taken even more priority, essentially marring the growth prospects of wearable medical devices market.

The major industry players are involved in adoption of several strategies including merger and acquisition, strategic collaboration, and partnerships to strengthen their business position. A few of the players operating in wearable medical devices market are Fitbit, Sotera Wireless, Omron Corporation, Koninklijke Phillips N.V. Apparently, these firms are focusing on untapped emerging nations to gain competitive edge and acquire significant market share globally. Reports forecast that the remuneration portfolio of worldwide wearable devices market is set to surpass USD 87 billion by the year 2025.

Source: https://www.gminsights.com/industry-analysis/wearable-medical-devices-market

Tanzania

Partnering to Help Children in Tanzania to Survive Cancer

A donation from leading temperature control packaging company Softbox Systems has enabled the charity International Health Partners (IHP) to deliver cold-chain oncology medicines, giving children in Tanzania the chance to recover from cancer.

The recent donation of a temperature control pallet shipper enabled IHP to send cytotoxic (chemotherapy) medicines to TLM, its aid partner in Dar es Salaam. These were used to treat Kanoni, a two-year-old patient, who is now free of cancer.

Last December, Kanoni was admitted to the hospital with a huge abdominal mass and severe pain. A CT scan and tests revealed that she had a kidney tumor. “When the lab investigated, it found her cancer was high-risk, and she needed medicine that could only be transported through cold-chain packaging,” explained Colleen Harrisson-Dodds, Logistics Director for IHP.

 

Previously, IHP and Softbox Systems have collaborated to send more than 2,000 treatments to Tanzania. Softbox donated its award-winning Silverpod pallet shipper, which enables the shipment of bulk consignments of goods, and can maintain product temperature stability for up to 120 hours.

Kanoni completed her treatment last month, and scans show the cancer has gone. “We’ve seen a remarkable improvement in her condition,” said Lilian Nydyetabula, the chief operating officer of TLM, which helped establish Tanzania’s first pediatric oncology service. “She gained weight and was able to move around and play with other children. Now, Kanoni is a totally different child from the one who arrived last December.”

Softbox Systems is a market leader that has won acclaim for its emphasis on high performance, sustainable and user-friendly packaging solutions. “It’s a pleasure to support IHP and rewarding to know that our packaging systems enabled the safe transportation of Kanoni’s life-saving treatment,” said Clive Bryant, Global Product and Marketing Director at Softbox Systems. “Our award-winning Silverpod range means that temperature-sensitive medicines arrive in perfect condition and ultimately save lives. We’re always looking for ways to enhance our products to facilitate the successful delivery of life-saving medicines all around the world.”

IHP is a leading coordinator of donated essential medicines, working with healthcare companies, logistics providers and aid agencies. Adele Paterson, CEO, said: “This is a wonderful example of the way we partner proactively. We’re delighted to work with Softbox Systems to enable the delivery of high-quality medicines to vulnerable people.”

medical bed

Report: Medical Bed Market

The global geriatric population is on the rise with the population aged over 65 years set to outnumber children under the age of 5 years over the coming years. Older people are generally more susceptible to infectious or chronic ailments, mostly due to age-related deterioration of the immune system. This vulnerability to various health risks including contagious and chronic diseases, as well as injuries associated with falls and physical disabilities is likely to add impetus to the global medical bed market.

The surge in the occurrence of chronic ailments is also causing a rise in hospitalizations for accurate and effective patient care. This upsurge in tandem with rising disposable incomes and rapid healthcare infrastructure advancements are promoting the widespread acceptance of medical beds on a global scale.

Several favorable healthcare policies and mandates have been enacted to ensure the availability of proper and effective medical care to those in need. For instance, in March 2017, the Indian government released a healthcare reform that requires healthcare facilities to have a minimum of 2 beds per 1000. This means there will be nearly 2,623 beds over the coming decade, including new as well as replacement beds.

Elderly population growing at a rapid pace

The older generation, or the “baby boomers”, account for a large chunk of the global population, and rising. In 2019, the number of individuals over the age of 65 years was recorded at nearly 703 million. This number is set to double by 2050 to reach 1.5 billion.

Most frequent users of the Emergency Department or ED services are elderly people suffering from one or more chronic ailments. Common maladies associated with old age include cataracts and vision deterioration, hearing loss, back, neck pains and osteoarthritis, diabetes, cardiovascular conditions, dementia, and depression, among others. As a result of this, the demand for effective and adequate emergency services has been growing extensively of the past year, proliferating the requirement for efficient healthcare equipment, including medical beds.

The growing elderly population has also brought about the establishment of dedicated geriatric healthcare facilities like Athulya Assisted Living, the brainchild of Karthik Ramakrishnan. The facility, located in Chennai, is considered a premium assisted living center and features myriad advanced healthcare provisions including sophisticated ECH machines, assisted medical beds as well as trained healthcare staff.

Rising occurrences of chronic ailments and subsequent rise in hospitalizations

The rapid expansion of the elderly population is also leading to a higher prevalence of chronic health conditions such as diabetes, cancers, cardiovascular ailments, stroke, and respiratory ailments. This increase is likely to assert pressure on healthcare systems to be able to provide adequate care and treatment to these patients.

In 2017, emergency department visits from patients suffering from at least one chronic condition accounted for nearly 60% of the cumulative annual visits, incurring an expenditure of nearly $8.3 billion.

Furthermore, over 90 million U.S residents suffer from at least one chronic condition, with seven out of 10 individuals succumbing to a chronic ailment. These numbers indicate a strong need for effective medical equipment including sophisticated medical beds.

While there are several healthcare systems put in place for the treatment of acute medical issues, many facilities are not equipped to deal with chronic ailments and long-term care. Given the prolific rise of chronic disease cases, medical bed industry players are taking consistent efforts towards developing revolutionary healthcare solutions geared towards long-term treatment.

The emergence of new healthcare technologies

For hospitalized patients, hospital bed security is characterized by sporadic visits from nurses and doctors. Due to this, any potential decline in the patient’s clinical condition may go unnoticed for a period of time, causing a delay in treatment administration and increasing the risk of mortality or morbidity.

However, in recent times, many up and coming technologies are coming into existence, designed to combat this issue and mitigate risks associated with hospitalization.

In fact, the digital healthcare sector is expected to hit $536.6 billion by 2025.

One of the most prominent advancements in the medical bed industry is brought forth by Hill-Rom, a multinational medical technologies provider and the foremost hospital bed producer in the world. Hill-Rom has unveiled a new technology called EarlySense, designed to integrate with Hill-Rom’s Centrella Smart+ bed platform and provide continuous, contact-free monitoring solutions including heart and respiratory rate sensing and analytics system.

Additionally, a new study published in an American Society for Microbiology journal has revealed that using copper as a component in ICU medical beds would harbor an average of 95% less bacteria than conventional beds, ensuring low-risk levels among hospitalized patients.

Source: https://www.gminsights.com/industry-analysis/medical-bed-market

LogiMed 2019: What to Expect

Healthcare supply chain takes center stage at the 2019 LogiMed USA conference through a series of case study evaluations, small group discussions, and strategic networking during this year’s two-day event.

Hosted at the Rancho Bernard Inn in San Diego, don’t miss the opportunity to learn about best practices in managing end-to-end supply chain with leading VPs and directors in the medical device and diagnostics manufacturing industry.

From March 19-21, participants will hear from the experts of leading companies such as Kaiser Permanente, Intermountain Healthcare, Medtronic, Johnson & Johnson, Mayo Clinic, and Amazon.

Scheduled panels provide insight on how to maintain complex customer needs, data collection for vendor-managed inventory, and a special leadership panel spotlighting female leaders in the supply chain.

For more information on the conference and registration details, visit: LogiMed USA

 

 

First-of-its-Kind Brain Health Supplement Aims to Improve Cognition, Memory

America’s newest brain health supplement may come in a small capsule, but according to scientific studies, its benefits could be huge. Sophrosyne, a first-of-its-kind breakthrough product launched this month, has a unique combination of four mind-boosting ingredients clinically proven to improve cognition and memory.

“This is great news for seniors and anyone looking to sharpen their memory, and also for military veterans or athletes who may experience frequent hits to the head,” said Dr. Daryl Rhys Jones, a top neuroscientist formerly with the Mayo Clinic and current CEO of Jonescientific, who led the development of Sophrosyne after years of research and testing. “With its unique mix of ingredients present at clinically active doses, there is nothing as effective as Sophroshyne on the market.”

In fact, no other known brain health product in the U.S. has been developed by a neuroscientist – an expert in the development and function of the nervous system, including the brain. Dr. Jones – who has done extensive research on Alzheimer’s and Chronic Traumatic Encephalopathy (CTE) – and his team scientifically evaluated hundreds of ingredients for their memory and cognition-building properties and produced the supplement using what they found to be the four most effective ones: withania somnifera, curcumin, bacopa monnieri and hericium erinaceus.

What sets these ingredients apart? Here’s a breakdown from Dr. Jones:

Withania somnifera. This plant – commonly known as Indian ginseng, Ashwagandha or winter cherry – has been proven to regenerate damaged brain cells.

Curcumin. A natural chemical produced by some plants, featuring antioxidant properties, this ingredient has shown to help maintain a healthy environment within the brain by removing unwanted proteins. An 18-month UCLA human clinical trial confirmed that consuming 180 mg of curcumin per day led to significantly enhanced memory and focus.

Bacopa monnieri. In at least four randomized, double-blind, placebo-controlled human trials, this herb has been demonstrated to enhance cognition and memory, and decrease the rate of forgetting newly-acquired information. It was shown to prevent the breakdown of neurotransmitters essential for cognition and memory.

Hericium erinaceus. Also known as Lion’s mane due to its unique appearance, this medicinal mushroom has been found to increase levels of peptides essential for the survival of brain cells. In a 16-week double-blind, parallel-group, placebo-controlled human trial, a high dose of this ingredient was found to improve cognitive function in seniors.

“Our research shows that these four nootropic (cognitive enhancing) ingredients, consumed in a daily capsule, deliver the most impressive results in improving cognition and memory compared to any other supplement available on the market,” said Dr. Jones, who cautions against taking other brands of supplements with a large ingredient list, due to the danger of losing the protective effects of a product that likely contains only minimal amounts of each ingredient crammed into one capsule.

A daily dose of Sophrosyne contains science-backed, clinically active doses of 500 mg of withania somnifera, 180 mg of curcumin, 300 mg of bacopa monnieri and 500 mg of hericium erinaceus.

For more information, please visit: Www.jonescientific.com