Monday, 9 December 2019

Asthma Devices Market to show steady growth, 2019

Asthma is a chronic inflammatory lung disease that narrows the airways. Asthma causes recurring periods of wheezing, chest tightness, shortness of breath, and coughing. Mostly, the symptoms associated with asthma are short-lived and can be easily treated. Asthma inhalers are medical devices which deliver medication into the body via the lungs, thereby, treating asthma and chronic obstructive pulmonary disease. Increasing prevalence of asthma is one of the major drivers for the market growth. According to the World Health Organization in 2017, approximately 235 million people suffered from asthma. Moreover, it was estimated that in 2015, the disease killed approximately 383 million patients around the globe. Additionally, rising healthcare expenditures and increasing awareness fuel the market growth. However, long treatment procedures and low per capita income followed by lack of favorable reimbursement policies in the developing countries will restrain the market growth during the forecast period.
The global asthma devices market is expected to grow at an approximate CAGR of 4.3% during the forecast period. 
Segmentation
The global asthma devices market is segmented on the basis of type, technology, and end users.
On the basis of the type, the market is segmented into inhalers, nebulizers, and others. The inhalers segment is sub-segmented into metered-dose inhalers and dry powder inhalers. The metered-dose inhalers segment, by inhalers, is further categorized into standard pressurized metered-dose inhalers, breath-activated pressurized metered-dose inhalers, metered-dose inhalers with a spacer, and others. The nebulizers segment is sub-segmented into compressor nebulizers, ultrasonic nebulizers, mesh nebulizers, and others.
On the basis of technology, the market is segmented into manually operated inhaler devices, digitally operated inhaler devices, and others.
On the basis of end users, the market is segmented into hospital, clinics, retail pharmacies, and others.
Regional Analysis 
The Americas dominate the global asthma devices market owing to a well-developed healthcare sector and huge patient population for asthma diseases. According to the Centres for Disease Control and Prevention, in 2015, approximately, 7.8% of the total population in the U.S. was identified for the presence of asthma. Moreover, changing lifestyle and increasing healthcare expenditure fuels the market growth. Additionally, the presence of global players like Merck & Co., Inc. and Baxter, and others boost market growth during the forecast period. 
Europe is the second largest asthma devices market owing to a well-developed healthcare infrastructure and huge patient population. Moreover, government support for research & development and rising healthcare expenditures fuel the market growth. According to a study published in the Asthma Research and Practice journal in 2017, the yearly estimated cost for all the asthmatics per patient is about USD 1,900. Additionally, the presence of the developed economies like the U.K, Germany, and France within the region boosts the market growth. 
Asia Pacific is the fastest growing region in the global market due to the presence of a huge patient population and continuously developing economies like India and China. According to a study of the Indian Chest Society in 2015, 300 million people suffered from asthma worldwide and about a tenth of its share is in India. Moreover, as per the Indian Brand Equity Foundation in 2017, the Indian healthcare sector is one of the fastest growing industries and is expected to advance at a CAGR of 22.8% and reach USD 280 billion by 2020. Moreover, favorable government policies like reduced excise and customs duty followed by the exemptions in service tax along boosts the market growth. 
On the other hand, the Middle East & Africa holds the least share of the global asthma devices market due to the presence of poor economy, especially within the African region. The absence of the developed healthcare sector and stringent government policies restrain the market growth within the African region. Majority of the market within the region is held by the Middle East due to huge healthcare expenditures. 
Key players for global asthma devices market
GlaxoSmithKline plc. (Europe), Merck & Co., Inc. (U.S.), 3M (U.S.), Aristopharma Ltd. (Asia Pacific), SRS PHARMACEUTICALS PVT. LTD. (Asia Pacific), AstraZeneca (Europe), Baxter. (U.S.), Boehringer Ingelheim GmbH (Europe), Koninklijke Philips N.V. (Europe), and others.
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Medical Tricorder Market Revenue, Opportunity, Forecast and Value Chain Analysis 2019

Medical device used by the consumer to self-diagnose medical condition is known as a medical tricorder. It takes basic vital measurement like heart rate and body temperature within seconds. Major functions of a medical tricorder are to monitor health of a person, summarize patient’s health, diagnose disease and take health measurements. Furthermore, rapid development in technology, increasing government support for research & development, changing lifestyle, and many adverse effects of the present diagnostic methods expected to fuel the market growth during the forecast period.
Medical Device Industry is flourishing across the globe owing to an increasing demand for technologically advanced devices, extensive use of smart medical devices, and overall improvement in healthcare sector. Various smart devices are used to determine the heart rate, glucose levels in the body, and other parameters.
However, these types of devices has to pass all the regulatory standards and rules, which increases the approval time. The average approval time for the medical diagnostic device may vary from 5-8 years. This long approval time, high cost of the research & development and devices may hamper the market growth during the corresponding period.
The demand of medical tricorder is increasing because of an increase in the demand medical tricorder among health care providers, helping them to diagnose patient’s health condition, increasing outpatient services in the hospitals, increase in patient pool suffering from diabetes, and cardiovascular diseases, and demand for new technology for diagnoses and monitoring.
According to findings from the WHO, in 2014, approximately 422 million people suffered from diabetes across the globe.
Global market of medical tricorder is expected to reach USD 5.4 billion in 2023 from USD 2.5 billion in 2016 with a CAGR of approximately 6.7% during the forecast period 2017-2023.
Global Medical Tricorder Market – Regional:
Geographically, the regional market is segmented into America, Europe, Asia Pacific, and the Middle East & Africa.
America is the largest market which is attributed to extensive use of medical tricorder by number of physicians in America. Increasing in patient pool, increase in outpatient services and concentration of major market players of medical tricorder in North America drive this market in America. North America is the largest market whose growth is attributed to an increase in patient pool, and demand for improved technology for diagnosis of ongoing health of a patient drive this market in America. According to the American Diabetes Association, in 2015, approximately 30.3 million Americans which is 9.4% of the American population were suffering from diabetes 
The European market is also growing continuously and slowly catching up with the American market in the near future. Emphasis for early diagnosis of disease condition and awareness regarding the use of tricorder. Extensive research in innovative product development, and adoption of new technologies in healthcare institutes such as hospitals & clinics, research institutes, clinical laboratories, diagnostics center and home care settings. QuantuMDx Group Ltd. is in Europe. It is one of the major market players for medical tricorder, thus favoring the opportunities for research and development activities in the field of medical devices and molecular diagnosis.
Asia-Pacific market is expected to show steady growth in the medical tricorder market during the forecasted period owing to the rising prevalence of chronic diseases such as obesity, diabetes, cardiovascular diseases, growing geriatric population, and development in healthcare sector. China and India are expected to be the emerging market in Asia Pacific, owing to the increasing number of patients diagnosed with chronic diseases, and high growth potentials supported by favourable macro-economic conditions.
Middle East & Africa show slow growth in this market owing to demand for primary care services for the diagnosis and treatment of chronic diseases, and rising awareness about preventive measures for various diseases, and increasing emphasis on women and child care.
Global Medical Tricorder Market: Company Analysis
Ibis Biosciences, Inc. provides molecular diagnostics, offers instruments and reagents to analyze DNA and RNA for clinical specialists and laboratory. In February 2016, the company won a USD 2,124,718 federal contract from the Defense Advanced Research Projects Agency, Arlington, Virginia for R&D.
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Ear Infection Treatment Market Revenue, Opportunity, Forecast and Value Chain Analysis 2019

An ear infection occurs due to invasion by bacteria or virus causing pain, inflammation and fluid build-up in the ear. Most ear infections are acute but chronic ear infections can cause permanent damage to the middle and inner ear. Eustachian tubes, small tubes running from ear to the back of the throat, get swollen or blocked causing fluid to build up in the middle ear.
The causes of Eustachian tube blockage include allergies, colds, sinus infections, excess mucus, etc. Other factors that increase the risk of developing an ear infection are altitude changes, climate changes, recent illness, exposure to cigarette smoke, etc. Common symptoms of ear infections include pain, persistent feeling of pressure inside the ear, pus like ear drainage, hearing loss etc. Serious complications include hearing loss, speech or language delay in children, infection of the mastoid bone in the skull (mastoiditis), bacterial infection of the membranes covering the brain and spinal cord (meningitis), ruptured eardrum and other.
The market drivers for global ear infection treatment market are rise in risk factors, increasing awareness regarding the severity of untreated ear infection, development of healthcare, technological development in diagnostic devices and surgery segment especially the advancements in minimally invasive surgery etc. The market restraints are the complications of surgery, high cost of treatment, emergence of bacterial resistance, etc.
The Global Ear Infection Treatment Market is expected to reach USD 22.3 Billion by 2023, and the market is projected to grow at a CAGR of Approx 6.6 % during the forecast period 2017-2023.
Key Players
American Diagnostic Corporation, Pfizer plc., Heine USA Ltd., , Welch Allyn, TorquePharma, Medtronic, Intersect ENT, Inc., Olympus Corporation, Grace Medical, American Diagnostic Corporation and others.
Segmentation
The global ear infection treatment market has been segmented on the basis of type, pathogen diagnosis, treatment, and end user.
Based on the type, the market has been segmented as outer ear, middle ear, inner ear.
Based on the pathogen, the market has been segmented as bacteria, virus and others.
Based on the diagnosis, the market has been segmented as hearing test, microbial test, otoscopy and tympanometry, Computerized Tomography (CT), other.
Based on the treatment, the market has been segmented as surgery, drugs, and others.
Based on the end user, the market has been segmented as hospitals & clinics, academic and research, and others.
Regional Analysis
The Americas accounts for a significant market share owing to extensive volume of surgeries performed and high expenditure on the health care. Additionally, the fastest uptake of new products and surgical procedures in the US drives the ear infection treatment market. Furthermore, concentration of the major healthcare and medical device companies in the developed countries of this region coupled with large insurance penetration is adding fuel to the market growth. Moreover, the US expend high amount on its healthcare, which accounts for 16% of total GDP, that also increases the sale in Ear Infection Treatment market.
Europe is the second largest market in the world due to high income and strong healthcare penetration. The European market growth is led by countries such as Germany and France. The UK is expected to be the fastest growing market over the assessment period. The strong medical device industry in Germany is a strong driver behind the dominance of this country in Europe.
Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to fast growing healthcare sector and large unmet needs over the forecast period. South East Asian countries such as Vietnam, Thailand, and Malaysia are projected to contribute highly to the market growth. The growing penetration of healthcare insurance in the Asia Pacific region is expected to drive the future ear infection treatment market in the region.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. Other Middle East nations to watch out for are Kuwait, Jordan, Egypt and Iran. The African region is expected to witness a moderate growth owing to poor economic and political conditions, and poor healthcare development.
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Bronchoscopes Market to show steady growth, 2019

Market Scenario
Bronchoscopy has become an essential part of modern medicine. The examination by bronchoscopy has become the most common method to diagnose any kind of abnormality in the normal function of the respiratory system. Bronchoscopes are the instruments used for visualizing the insides of the patient’s airways. Bronchoscopes are usually inserted through nose or mouth, and occasionally through the trachea. Owing to the recent advances in medicine, a number of bronchoscopes have been introduced. Flexible bronchoscopes have been introduced to diagnose the diseases in trachea and the bronchi. Due to their different advantages, they are widely accepted throughout various countries and regions. The global bronchoscope market is majorly driven by increasing prevalence of respiratory tract diseases for instant, lung cancer and COPD, increasing number of bronchoscopies procedures, and increasing preference for minimally invasive procedures.
According to the WHO (World Health Organization), in 2015, 64 million people have chronic obstructive pulmonary disease (COPD), whereas, over 3 million people died of COPD. Additionally 1.8 million people across the globe were suffering from lung cancer. Increasing number of healthcare organization and patient inflow have boosted the number of bronchoscopy procedures. Moreover, increasing geriatric population, increasing healthcare expenditure, and changing environmental condition have fuelled the growth of the market over the review period. However, high cost of the devices and risk of infection may slow the growth of the market.
The market for bronchoscopes is growing at a healthy pace. The market is expected to grow at the CAGR of 7.4% during the forecast period and is estimated to reach USD 2,244.4 million by 2023.
Segmentation                                                                                                                                     
The global bronchoscopes market is segmented on the basis of types, application, and end users.
On the basis of types, the market is segmented into rigid bronchoscopes, and flexible bronchoscopes. Flexible bronchoscopes are further sub-segmented into fiber optic bronchoscopes, and video bronchoscopes.
On the basis of application, the market is segmented into diagnosis, and surgical procedure. Diagnosis is further segmented into examination, patient’s airways, bleeding lungs, possibility of lung cancer, chronic cough, and obtain tissue specimen for biopsy. Surgical procedure is further segmented into removal of a foreign object in the airway, laser resection of tumors, lung abscess, stent insertion, percutaneous tracheostomy, and tracheal intubation.
On the basis of end user, the market is segmented into hospitals & clinics, diagnostic centers and others.
Regional Analysis                     
Considering the global scenario of the market, America dominates the global bronchoscopes market owing to the presence of huge patient population, high healthcare spending and well developed healthcare sector.
North America holds the largest market share in the American bronchoscopes market. According to the Centers for Medicare & Medicaid Services, in 2015, U.S. healthcare spending increased 5.8% during last few years. Additionally, increasing government support for research & development have fuelled the market growth of the American bronchoscopes market. Europe has the second largest market for the bronchoscopes which is followed by Asia Pacific. Due to the presence of a well-developed healthcare sector, increasing prevalence of respiratory diseases and high healthcare spending, the bronchoscopes market in Europe is growing at a CAGR of 6.9%. Asia Pacific is also witnessing a rapid growth in this market which is mainly due to rapidly increasing awareness about the availability of the treatment, increasing patient inflow, huge population base, and rising healthcare expenditure. The Middle East & Africa is expected to have limited growth. Middle East is dominating this market by holding major share of the Middle East & Africa market owing to the well developed technology and healthcare sector.
Key Findings:
  • Flexible bronchoscopes segment accounts for the largest market share in the global bronchoscopes market and is expected to be the fastest growing market with the CAGR of 8.0 % during the forecast period.
  • Diagnosis commanded the largest market share in 2016 and was valued at USD 885.7 million in 2016 and is expected to reach at USD 1,484.2 million by 2023.
  • On the basis of end users, Hospitals & clinics segment accounts for the largest market share of 49.1% in the global bronchoscopes market.
  • The Americas bronchoscopes market is expected to reach USD 868.7 million by 2023, at a CAGR of 7.4 % during the forecast period.
Key Players for Global Bronchoscopes Market
Some of the major players in this market are: Ambu Inc. (US), Boston Scientific Corporation (US), Cogentix Medical (US), Fujifilm Holdings Corporation (Japan), Olympus Corporation (Japan), Pentax Medicals (Japan), and KARL STORZ GmbH & Co. KG (Germany), Schindler Endoskopie Technologie Gmbh (Germany), Schölly Fiberoptic Gmbh (Germany), Vimex Sp. (Poland), Hangzhou EndoTop Medi-Tech Co., Ltd.(China), Guangzhou MeCan Medical Limited (China), and LocaMed (UK).
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Pituitary Cancer Market Value Share, Supply Demand, share and Value Chain 2019

Among cancers that harm the human body internally, pituitary cancer is a dangerous one where pituitary tumors, due to their abnormal growth in pituitary gland interfere with the secretion of pituitary hormone secretions within the body. The prevalence of this cancer is making its market popular.
Market Research Future (MRFR) has published a research report that prophesizes an increase for the global pituitary cancer market with 9.4% CAGR (Compound Annual Growth Rate) between 2017 and 2023.The key factors driving the growth of this market include the growing geriatric population, increasing research & development (R&D) by key players in the market, and rising healthcare expenditures.
The global pituitary cancer market has been segmented on the basis of diagnosis, end-user, treatment type, and lastly region. The diagnosis based segmentation of this market covers blood test, brain imaging, urine test, and vision testing. Based on end-users, the market has been segmented into clinics, diagnostic centers, and hospital. By treatment type, the market has been segmented into medications, radiation therapy, and surgery.
The regional segmentation of the global pituitary cancer market segments the market into regional markets namely The Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA). The largest share in the global market is held by the Americas. This market is expected to grow during the forecast period. North America is estimated to lead the market whereas South America is projected to be the fastest growing region for the market. As per the country-wise sub-segmentation of this region, due to advanced medical facilities, growing advancements in the field of neurology, increasing cases of cancer, and robust R & D practices are the key reasons for market growth in the United States of America (USA) and Canada, followed by the rest of North America. Due to technological advancement, North America is a bigger market than South America.
The second largest pituitary cancer market is in Europe. Here, the market is growing due to the adoption of a sedentary lifestyle, increase in workload, growing funds for research, rising patient population, and the presence of many key players in the market. The United Kingdom (UK) and Germany are the major contributors to this market. The other important markets are France, Italy, and Spain, followed by the rest of Western Europe. Due to reasons same as the Americas, Western Europe market is bigger than the Eastern Europe market.
The forecast period estimates the Asia Pacific to emerge as the fastest growing market due to the expanding healthcare sector, favorable government policies, growing patient population, and the presence of economies with rapid growth like China and India. The other important markets in this region include Australia, Japan, and South Korea, followed by the rest of Asia Pacific.
MEA region is the smallest regional market. Due to lack of education, less infrastructure development, limited growth in the healthcare sector, and political instability, the market is low in this region. Maximum revenue for this market is generated by Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE), followed by rest of the MEA region.
Key Players
The key players in the global pituitary cancer market include Accuray Incorporated (USA), C. R. Bard, Inc. (the USA), Elekta AB (Sweden), Genentech, Inc. (the USA), Ion Beam Applications (Belgium), Isoray Medical, Inc. (the USA), Mevion Medical Systems, Inc. (the USA), Mitsubishi Electric Corporation (Japan), Nordion, Inc. (Canada), RaySearch Laboratories (Sweden), Salzman International (USA) , Sigma-Aldrich Co. LLC (USA), Trinity Biotech (Ireland), and Varian Medical Systems, Inc. (the USA).
Latest Industry News
  • A new test using betamethasone — a corticosteroid that causes the pituitary gland to stop producing ACTH – can accurately predict short- and long-term remission in Cushing’s disease patients who have had pituitary surgery. 10 AUG 2018.
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ICP-OES Spectrometer Market Revenue, Opportunity, Forecast and Value Chain Analysis 2019

The Global ICP-OES Spectrometer Market is expected to register a CAGR of 7.2% during the forecast period of 2019 to 2025 with a market value of USD 521.4 million in 2018.
ICP-OES Spectrometer is an analytical instrument that is used for the detection of chemical elements. It uses the technique of inductively coupled plasma optical emission spectroscopy (ICP-OES) for carrying out its analysis procedure. Certain factors that propel the growth of the ICP-OES spectrometer market include increasing R&D expenditure for the development of better analytical systems and growing technological advancements.
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However, the high cost of instruments and requirement of large capital investment for setting up instrument manufacturing plants is hindering the growth of the global ICP-OES spectrometer market in the forecast period.
Currently, the global ICP-OES spectrometer market is dominated by several players. The major players in this market are involved in strategic acquisitions and product launches to expand their product portfolios. For instance, in March 2016, GBC Scientific Equipment launched the OptiMass 9600, which uses the ICP-OES spectrometer technology.
Key Players:
Some of the key players in the global ICP-OES spectrometer market are PerkinElmer Inc. (US), Shimadzu Corporation (Japan), GBC Scientific Equipment (Australia), Thermo Fisher Scientific (US), Agilent Technologies, Inc. (US), SPECTRO Analytical Instruments GmbH (Germany), Teledyne Leeman Labs (US), Analytik Jena AG (Germany), Horiba (Japan), Skyray Instrument Inc. (US), Beijing Huake Tiancheng Technology Co., Ltd (China), FPI (China), Hitachi High-Technologies Corporation (Japan), Merck KGaA (Germany), and others.
Segmentation:
The global ICP-OES spectrometer market has been segmented based on spectrometer type, application, and end user.
The market, based on spectrometer type, has been bifurcated into sequential and simultaneous. The sequential spectrometer market is expected to hold a major share in the market owing to its wider availability in the market. The simultaneous spectrometer segment is anticipated to be the fastest growing due to its rising adoption rate.
The market, by application, has been divided into nanotechnology, drug discovery, environmental testing, food & agriculture, and others. The drug discovery segment is expected to hold a major share owing to a large number of applications of ICP-OES spectrometer in this field. The environmental testing segment is expected to be the fastest growing due to an increasing number of research activities for using ICP-OES spectrometer for environmental testing purpose.
The market, by end user, has been classified as pharmaceutical & biotechnology companies, research & academic institutes, and others. Pharmaceutical & biotechnology companies are anticipated to hold a major share in the market. This is due to the increasing number of applications of ICP-OES spectrometer in the pharmaceutical industry. The research & academic institutes segment is expected to become the fastest growing market due to the increasing research activities.
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The ICP-OES spectrometer market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European ICP-OES spectrometer market has been sub-divided Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The ICP-OES spectrometer market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The ICP-OES spectrometer market in the Middle East & Africa has been divided into the Middle East and Africa.
Regional Analysis:
The market in the Americas is expected to dominate the global ICP-OES spectrometer market due to the growing expenditure on R&D to develop new technologies and the high adoption of new technology in the region. Moreover, the presence of major companies such as PerkinElmer Inc., Agilent Technologies, Inc., Thermo Fisher Scientific, etc. in North America is also expected to fuel the market growth in the region.
The market in Europe showed a substantial amount of growth. The market growth in this region can be attributed to the presence of a well-established healthcare system and increasing adoption of ICP-OES spectrometer for research purposes.
The market in Asia-Pacific is projected to have the fastest growth rate during the forecast period owing to the rapid growth of the pharmaceutical industry in countries such as China, India, and Japan.
The market in the Middle East & Africa is anticipated to account for the least share of the global market due to low disposable income in the region. Moreover, the presence of major companies in the Middle East and African market is also limited, which is projected to curb the growth of the market in the future.
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Mixed Reality in Healthcare Market 2019–By Identifying the Key Market Segments and Key players holding market share

The global mixed reality in healthcare market is projected to show significant growth over the forecast period. It is estimated that the global mixed reality in healthcare market is expected to register a CAGR 26.3% during the forecast period of 2019 to 2024, with an estimated market value of USD 2,475 million in 2018.
Mixed Reality (MR) is an amalgamation of Augmented Reality (AR) and Virtual Reality (VR), defining the polar ends of a spectrum known as virtuality spectrum or mixed reality spectrum. Augmented reality delivers digital components, whereas virtual reality enables immersive imitation of real-life settings. MR has widespread applications in different fields of healthcare, varying from treatment to training and education. The global mixed reality in healthcare market is fueled by factors such as rapid improvements in the adoption of sensor technology, increase in the user acceptance, increased applications of MR in disease care and treatment, and increasing workload of healthcare professionals. Additionally, the benefits of MR systems such as operational efficiency, increased service quality, and reduced human effort is also projected to drive the growth of the mixed reality in healthcare market. For instance, in 2018, Samsung completed a randomized control trial that showed that VR therapy reduces pain by 52%.
On the other hand, the lack of adequate skill among medical practitioners, high investment costs, occurrences of technical glitches and the concern related to loss of data is likely to curb the growth of the market during the assessment period. Nevertheless, changes in regulatory policies are expected to reduce the impact of barriers over the forecast period.
Moreover, major companies in the market are involved in strategic acquisitions and collaborations to brace their position in the market. For instance, in March 2018, Samsung announced a partnership with Travelers Insurance, Cedars-Sinai Medical Center, Bayer, and AppliedVR to study a virtual reality for pain management.
Players Covered:
Some of the key players in the global mixed reality in healthcare market are Mindmaze, Atheer, Augmedix, Firsthand Technology, Daqri, Medical Realities, Google, Microsoft, Echopixel, Oculus VR, Orca Health, Psious, Samsung Electronics, Surgical Theatre LLC, and Osso VR.
Mixed Reality in Healthcare Market – Segments
The global mixed reality in healthcare market has been segmented into component, device type, application, and end user.
The market, based on component, has been segmented into software, hardware, and service. The software segment is expected to hold a major share due to the increased accessibility of software to the users, whereas the hardware segment is projected to be the fastest growing segment owing to ease of availability of hardware components.
The market, by device type, has been segmented into augmented reality in healthcare and virtual reality in healthcare. The AR in healthcare segment is expected to hold a major share due to the increased application of AR for the attenuation of pain perception, whereas VR in healthcare segment is anticipated to be the fastest growing segment owing to rise in awareness and increased research in this field. The market, by augmented reality in healthcare, has been further segmented into head-mounted display (HMD), and handheld device. The market, by virtual reality in healthcare, has been segmented into head-mounted display (HMD), gesture tracking devices, projectors, and others.
The market, by application, has been segmented into surgery simulation, surgery, patient care management, pharmacy care management, fitness management, and others. The surgery simulation segment is expected to hold a major share owing to the increasing use of MR tools for training surgeons due to the anatomically realistic recreations. The segment of surgery is expected to be the fastest growing segment due to the increased patient population in recent years.
The market, by end user, has been segmented into hospital and surgical centers, research organizations, and others. The segment of hospital and surgical centers is projected to hold a major share due to the rise in the hospitals switching to MR systems, whereas the segment of research organizations is expected to be the fastest growing segment due to the increased research initiatives.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The mixed reality in healthcare market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada. The European mixed reality in healthcare market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The mixed reality in healthcare market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The mixed reality in healthcare market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Wise Analysis:
Geographically, the Americas is expected to dominate the global mixed reality in healthcare market due to the increasing per capita healthcare expenditure, and the heavy adoption of new technology. According to the research published in 2016 by Johns Hopkins University School of Medicine, it was estimated that if all US hospitals increased the number of minimally invasive procedures by 50%, nearly 3,600 complications could be avoided annually. Furthermore, rising expenses in research and investment by healthcare bodies are anticipated to drive the growth of the market in this region.
Europe showed a considerable amount of growth in the global mixed reality in healthcare market. The market growth in this region is because of the presence of a well-established healthcare system and increase in chronic diseases.
Asia-Pacific is expected to have a sturdy growth rate during the forecast period owing to the huge patient pool and government initiatives of healthcare reforms. In 2016, as a part of an ongoing neurosurgical collaboration between Children’s Hospital in Ho Chi Minh City (Vietnam) and Children’s of Alabama Hospital, a Virtual Interactive Presence and Augmented Reality (VIPAR) telecommunication system was implemented at both hospitals to provide intraoperative assistance to medical professionals. However, less capital investment is restricting the market growth of this region.
On the other hand, the Middle East & Africa has the least share of the market due to the low disposable income. Moreover, limited access to treatment facilities is also expected to curb the growth of the market in the near future.
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