MPO Staff10.09.14
Expansion Predicted for Infection Prevention Market
According to the results of a recent report, the market for infection prevention products and services will expand 4.8 percent annually to $24.6 billion in 2018.
“The increasing enforcement of safeguards aimed at reducing the incidence of healthcare-associated infections (HAIs) in medical settings will underlie gains,” said Bill Martineau, an analyst with The Freedonia Group Inc., a Cleveland, Ohio-based industry market research firm. “The upgrading of quality control and quality assurance standards in life science research and pharmaceutical and medical device production facilities also will contribute to growth.”
Protective apparel and textiles will lead revenues as stepped up efforts by hospitals to reduce the risk of HAIs in surgery and other invasive procedures broaden the use of premium, barrier enhanced gloves, drapes, gowns, face masks, and other apparel and textiles, analysts noted.
Notably, safety-enhanced medical devices will post the fastest growth in demand among infection prevention supplies as medical providers seek to improve the safety of blood collection, catheterization, drug delivery and invasive surgical procedures.
Total demand for infection prevention equipment is forecast to expand 2.9 percent annually to $990 million in 2018.
“Efforts by the healthcare and life-science sectors to keep up with advancing infection prevention technologies and capabilities will increase growth prospects for sterilization, washing/disinfecting, infectious waste disposal, and various other equipment such as scrub stations, incubators, and ultrasonic cleaners,” analysts wrote. “Convenience, cost, and regulatory compliance advantages will expand the U.S. market for infection prevention services 5.6 percent annually. Infectious waste disposal services will dominate demand as government restrictions on onsite incineration remain and force health facilities to use outside firms for infectious waste collection and disposal.”
Makers of Medical Ventilators Should Breathe Easy
The global market for medical ventilators was valued at approximately $765 million in 2013 and will exceed $1 billion by 2020, representing a compound annual growth rate of 5 percent, according to GBI Research, a business intelligence provider based in the United Kingdom.
The company’s latest research report indicated that while the increasing prevalence of chronic obstructive pulmonary disease (COPD) will continue to be the primary driver of market growth, new technologies also will make a “crucial contribution.”
Srikanth Venkataraman, senior analyst for GBI Research, said: “The already high prevalence of COPD will be exacerbated by the aging population, leading to more critical care admissions, where the use of mechanical ventilation is common. In emerging economies, such as China and India, a rise in new hospitals has led to a surge in the number of intensive-care-unit beds equipped with ventilators.”
GBI Research analysts noted that attention increasingly is turning toward improved technologies that prevent lung injury, reduce the time that patients have to spend on mechanical ventilation, and improve the synchrony between the patient and ventilator.
“Companies are focusing on developing multimodal ventilators, which act as a one-stop solution for critical care physicians handling a wide range of ICU procedures,” Venkataraman said. “Compared to older methods, these technologies also help to reduce the risk of lung injury from high inspiratory pressure and are more customized to patients with varying levels of complications. They can also promote speaking ability and improve patient comfort during mechanical ventilation.”
The increasing preference for non-invasive ventilation in the developed world will be another significant trend over the forecast period, with Europe currently leading the United States in the adoption of such systems, according to GBI.
GBI Research analysts attributed the low penetration of non-invasive ventilation in the United States to the lack of efforts toward increasing respiratory therapy and nursing time. Furthermore, there is an inaccurate perception that additional time is required to implement this treatment method.
Modest Growth Forecast for Ortho Power Tools
The global orthopedic power tools market will experience moderate growth from $1.41 billion in 2013 to $1.67 billion by 2020, at a compound annual growth rate of 2.5 percent, according to London, England-based research and consulting firm GlobalData.
According to one of the firm’s latest reports, while all 10 major markets (United States, France, Germany, Italy, Spain, the United Kingdom, Japan, Brazil, China, and India) are expected to grow in sales, Western countries will experience stronger pricing pressures and delayed capital equipment upgrades as a result of their governments’ healthcare budget constraints for high-volume orthopedic surgeries.
“In Western economies, sales of pneumatic-powered tools will be declining as a proportion of the overall market, as surgeons adopt new-generation battery-powered systems,” said Linda Tian, GlobalData’s analyst covering orthopedic devices. “The adoption of these new technologies will be one of the key drivers of growth during the forecast period.”
She added that cost-containment efforts by cash-strapped hospitals will continue to result in pricing erosion in nearly every segment of the orthopedic power tools market, particularly with large-bone power tools. “The whole orthopedic community is now placing appreciable emphasis on austerity measures in hip and knee procedures,” she said.
Of the 10 major countries, GlobalData analysts expect revenues to grow fastest in China and India, because these markets offer a greater opportunity for power tool manufacturers seeking international expansion.
“While the high cost of battery-powered systems will hinder their widespread adoption in the developing world, the improving healthcare infrastructures and anticipated increase in procedure volumes in China and India will help to drive the market in these countries,” Tian said.
Kalamazoo, Mich.-based Stryker Corp., which currently is the world’s leading manufacturer of orthopedic power tools with 35 percent of the global market in 2013, will continue to dominate for the next few years, analyts predicted. However, the competitive landscape is expected to evolve.
“The bar for effective competition has been raised again and again in the power tools field, making it very difficult for small to midsized companies to navigate the competitive landscape,” Tian said. “How the tier-two companies will leverage their platform technologies, in order to diversify their current portfolios and enhance their competitive edges against Stryker, will be the most interesting development to follow in the coming years.”
The report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of analysts.
According to the results of a recent report, the market for infection prevention products and services will expand 4.8 percent annually to $24.6 billion in 2018.
“The increasing enforcement of safeguards aimed at reducing the incidence of healthcare-associated infections (HAIs) in medical settings will underlie gains,” said Bill Martineau, an analyst with The Freedonia Group Inc., a Cleveland, Ohio-based industry market research firm. “The upgrading of quality control and quality assurance standards in life science research and pharmaceutical and medical device production facilities also will contribute to growth.”
Protective apparel and textiles will lead revenues as stepped up efforts by hospitals to reduce the risk of HAIs in surgery and other invasive procedures broaden the use of premium, barrier enhanced gloves, drapes, gowns, face masks, and other apparel and textiles, analysts noted.
Notably, safety-enhanced medical devices will post the fastest growth in demand among infection prevention supplies as medical providers seek to improve the safety of blood collection, catheterization, drug delivery and invasive surgical procedures.
Total demand for infection prevention equipment is forecast to expand 2.9 percent annually to $990 million in 2018.
“Efforts by the healthcare and life-science sectors to keep up with advancing infection prevention technologies and capabilities will increase growth prospects for sterilization, washing/disinfecting, infectious waste disposal, and various other equipment such as scrub stations, incubators, and ultrasonic cleaners,” analysts wrote. “Convenience, cost, and regulatory compliance advantages will expand the U.S. market for infection prevention services 5.6 percent annually. Infectious waste disposal services will dominate demand as government restrictions on onsite incineration remain and force health facilities to use outside firms for infectious waste collection and disposal.”
Makers of Medical Ventilators Should Breathe Easy
The global market for medical ventilators was valued at approximately $765 million in 2013 and will exceed $1 billion by 2020, representing a compound annual growth rate of 5 percent, according to GBI Research, a business intelligence provider based in the United Kingdom.
The company’s latest research report indicated that while the increasing prevalence of chronic obstructive pulmonary disease (COPD) will continue to be the primary driver of market growth, new technologies also will make a “crucial contribution.”
Srikanth Venkataraman, senior analyst for GBI Research, said: “The already high prevalence of COPD will be exacerbated by the aging population, leading to more critical care admissions, where the use of mechanical ventilation is common. In emerging economies, such as China and India, a rise in new hospitals has led to a surge in the number of intensive-care-unit beds equipped with ventilators.”
GBI Research analysts noted that attention increasingly is turning toward improved technologies that prevent lung injury, reduce the time that patients have to spend on mechanical ventilation, and improve the synchrony between the patient and ventilator.
“Companies are focusing on developing multimodal ventilators, which act as a one-stop solution for critical care physicians handling a wide range of ICU procedures,” Venkataraman said. “Compared to older methods, these technologies also help to reduce the risk of lung injury from high inspiratory pressure and are more customized to patients with varying levels of complications. They can also promote speaking ability and improve patient comfort during mechanical ventilation.”
The increasing preference for non-invasive ventilation in the developed world will be another significant trend over the forecast period, with Europe currently leading the United States in the adoption of such systems, according to GBI.
GBI Research analysts attributed the low penetration of non-invasive ventilation in the United States to the lack of efforts toward increasing respiratory therapy and nursing time. Furthermore, there is an inaccurate perception that additional time is required to implement this treatment method.
Modest Growth Forecast for Ortho Power Tools
The global orthopedic power tools market will experience moderate growth from $1.41 billion in 2013 to $1.67 billion by 2020, at a compound annual growth rate of 2.5 percent, according to London, England-based research and consulting firm GlobalData.
According to one of the firm’s latest reports, while all 10 major markets (United States, France, Germany, Italy, Spain, the United Kingdom, Japan, Brazil, China, and India) are expected to grow in sales, Western countries will experience stronger pricing pressures and delayed capital equipment upgrades as a result of their governments’ healthcare budget constraints for high-volume orthopedic surgeries.
“In Western economies, sales of pneumatic-powered tools will be declining as a proportion of the overall market, as surgeons adopt new-generation battery-powered systems,” said Linda Tian, GlobalData’s analyst covering orthopedic devices. “The adoption of these new technologies will be one of the key drivers of growth during the forecast period.”
She added that cost-containment efforts by cash-strapped hospitals will continue to result in pricing erosion in nearly every segment of the orthopedic power tools market, particularly with large-bone power tools. “The whole orthopedic community is now placing appreciable emphasis on austerity measures in hip and knee procedures,” she said.
Of the 10 major countries, GlobalData analysts expect revenues to grow fastest in China and India, because these markets offer a greater opportunity for power tool manufacturers seeking international expansion.
“While the high cost of battery-powered systems will hinder their widespread adoption in the developing world, the improving healthcare infrastructures and anticipated increase in procedure volumes in China and India will help to drive the market in these countries,” Tian said.
Kalamazoo, Mich.-based Stryker Corp., which currently is the world’s leading manufacturer of orthopedic power tools with 35 percent of the global market in 2013, will continue to dominate for the next few years, analyts predicted. However, the competitive landscape is expected to evolve.
“The bar for effective competition has been raised again and again in the power tools field, making it very difficult for small to midsized companies to navigate the competitive landscape,” Tian said. “How the tier-two companies will leverage their platform technologies, in order to diversify their current portfolios and enhance their competitive edges against Stryker, will be the most interesting development to follow in the coming years.”
The report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of analysts.