Monthly Archives: October 2018

Healthcare, Healthcare Products, Healthcare Solutions, Homeopathic Treatment

Global Kidney Stone Management Device Market: Higher end user preference for lithotripsy devices, particularly extracorporeal variants prevails

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DUBLIN 2, Ireland, 30-Oct-2018 — /EPR HEALTHCARE NEWS/ — Fact.MR has recently announced the launch of a new research study that delivers key market insights on kidney stone management management devices. The comprehensive report on kidney stone management devices market offers actionable intelligence, offering volume and value projections for a 10 year timeline (2018-2028).

Free sample of the kidney stone management devices market report is available on the below link.

https://www.factmr.com/connectus/sample?flag=S&rep_id=1827

Key Insights from Report:

  • United States remains the largest market for kidney stone management devices, accounting for over 88 percent of global sales in 2017
  • Eastern Europe and United Kingdom led demand for kidney stone management devices in Europe during 2018 and the trend is likely to continue in the future as well
  • Sales are encouraging in EU-4; growth is relatively slower than UK and Eastern European countries. EU-4 is likely to create significant opportunities for market players
  • Hospitals are the key sales channel, accounting for nearly 50% of total sales in 2017
  • Higher end user preference for lithotripsy devices, particularly extracorporeal variants prevails – lithotripsy devices will remain the top-selling segment in 2019 and beyond

Lithotripsy Devices Lead the Rally

Fact.MR reveals that sales of extracorporeal lithotripsy devices accounted for over 73 percent of the lithotripsy sales and over 60 percent of overall kidney stone management device sales in 2017, surpassing those generated from ureteroscopes and nephroscopes.

The demand for lithotripsy devices across developed countries of the United States and the EU-4 is projected to expand at a significant pace in the coming years. Sales of kidney stone management devices in United States alone are likely to cross US$ 200 Mn by end of 2018-end, maintaining the status quo of the country as the most attractive market.

The US remains a lucrative market for stakeholders, reflecting a 1.5x lead in sales over EU-4 combined and a 1.2x lead over China, India and ASEAN in 2018.

Kidney Stone Management Devices Sales
Country 2013 2015 2017 2018 2020 2025 2028
US XX XX XX XX XX XX XX
EU-4 XX XX XX 133.2 XX XX XX
China, India and ASEAN XX XX XX XX XX XX XX

(Note: All above figures are in US$ Mn)

Speak to the authors of the report for additional information on the redacted figures  

Medical Tourism Hubs in Asia: The New Growth Frontiers

Kidney stone management devices are likely to witness increasing traction among emerging economies in the Asia Pacific, such as China and India, albeit at a lower base. China remains lucrative, maintaining a 1.5X lead over India in 2018. India and ASEAN currently account for less than 10% share of the global market; however, opportunities abound as these countries position themselves as global medical tourism hubs.

For direct purchase of the kidney stone management devices market report, please click on the link below:

https://www.factmr.com/checkout/1827/S

SOURCE: EuropaWire

Business of Medicine, Cardiology, Diabetes, Diagnostics, Gynecology, Health Products, Healthcare, Healthcare Information, Healthcare Products, Infertility Treatment, Pharmaceuticals

Europe Home Diagnostics Market: Growth in Pregnancy and Ovulation Predictor Test Kits Sales Encouraging

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DUBLIN 2, Ireland, 18-Oct-2018 — /EPR HEALTHCARE NEWS/ — The European home diagnostics industry is realigning to foster integration with the broader customer-centric healthcare services. Growing consumer preference for home-based diagnostics, combined with innovation in online platforms, is creating sustained opportunities in this dynamic landscape. Riding on the coattails of these factors, the US$ 1.4 billion Europe home diagnostics market is likely to grow at 3.4% CAGR during the period 2018-2026.

Consumer Preference for Non-Invasive Glucose Monitoring Devices Still Remains Unmet 

Glucose monitoring kits and devices remain the top-selling product, accounting for over 80% revenue share of the Europe home diagnostics market. The burgeoning demand for home-based glucose monitoring devices and kits can be attributed to growing prevalence of diabetes in Europe, which is increasing across all ages according to the WHO. The Fact.MR study opines that digital devices will remain the preferred choice over cassettes among European consumers.

The broader trends pertaining to non-invasive and painless diagnostics are driving innovation in glucose monitoring device development. According to the Fact.MR study, non-invasive glucose monitoring devices are likely to witness increasing penetration in Europe, albeit at a slow pace. The report also finds that broader innovation in non-invasive devices can drive healthcare consumerism across Europe.

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The Fact.MR study remains optimistic on the future growth in Europe’s home diagnostics market, however, challenges prevail. “Self-testing, especially for people with type 1 diabetes, who require daily or frequent testing, remains a painful and inconvenient process. Over the decades, the innovation in glucose monitoring devices hasn’t really addressed the invasive part of the self-testing”, says Mr. Santosh Kumar, Senior Consultant at Fact.MR. “There is an urgent need for non-invasive glucose monitoring testing,” adds Mr. Kumar.

The Fact.MR study finds that home diagnostics manufacturers are aware of the evolving demand. Investment and research into developing minimally or non-invasive home diagnostics devices is gaining ground. “The realization that digital, and non-invasive devices are the future is dawning upon manufacturers. Market leaders, such as Siemens Healthcare and Abbott Technologies are leveraging wearable technologies and IoT to develop innovative products,” says Mr. Kumar.

Growth in Pregnancy and Ovulation Predictor Test Kits Sales Encouraging 

Although glucose monitoring devices and kits will account for the majority of sales, encouraging trends in other self-test kits continue to complement market growth. Pregnancy test kits and ovulation predictor test kits are likely to witness surging demand, as an increasing consumer base feels confident about self-testing. Gains are also encouraging, albeit miniscule, in other home diagnostics products, such as urinary tract infection kits and male infertility test kits.

UK Maintains its Numero Uno Position, Germany and France Remain Lucrative

The Europe home diagnostics market remains concentrated in the UK, Germany, and France. These three markets collectively account for a market share of nearly 60% revenue share of the Europe home diagnostics market. The Fact.MR study opines that these three markets will witness increasing proliferation of next-gen home diagnostics devices.

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Fact.MR study on the home diagnostics market brings interesting insights to the fore. According to the report, UK remains Europe’s largest market for home diagnostics, with revenues to the tune of US$ 280 million in 2017. The study opines that UK will maintain its numero uno position throughout the course of the forecast period 2017-2026. Germany and France will follow suit, however, sales will grow at a sluggish pace in the former.

The report also finds that home diagnostics devices that use urine and blood for testing will continue to remain pervasive in the Europe home diagnostics market. Samples devices and kits that use semen and breath are expected to witness growth during the course of the forecast period.

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SOURCE: EuropaWire

Business of Medicine, Healthcare, Healthcare Information, Healthcare Products, Healthcare Services, Healthcare Software, Healthcare Solutions

IBM Watson Market Study: IBM Watson services have been positively disrupting and reforming operations in the healthcare industry

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DUBLIN 2, Ireland, 10-Oct-2018 — /EPR HEALTHCARE NEWS/ — IBM Watson Services continue to get significant traction from end-users, with over 72% respondents in Europe affirmative on using IBM Watson language services, according to a Fact.MR survey. The survey is part of the comprehensive research study on IBM Watson services market which tracks the adoption of this platform across key sectors. The Fact.MR survey also reveals that use of IBM Watson vision services attracted the minimum interest, with only 48% of respondents in Europe affirmative about using it.

Fact.MR’s IBM Watson services market survey gathered data from over 500 respondents in 10 European countries. These respondents represented large-scale, SMEs, and micro organizations, with a collective IT spending budget of over US$ 50 billion. The findings of the survey were in sync with the overall expectations and use of IBM Watson services, which are highly reliant on revenue generated from language services.

Growing Realization that Cognitive Technologies Can Empower Decision-Making 

The survey indicates that mitigating the gaps that exist in IT vendors’ execution from data collection to action remains the key concern of organizations. There is an increasing realization among IT vendors that cognitive technologies can empower decision-makers to make sense of colossal structured and unstructured data. The survey offers encouraging insights on the growing use of advanced analytics and cognitive computing in today’s data-driven economy, as over half of the respondents in the survey agreed to using insights- and speech-services of IBM Watson.

Request Sample of IBM Watson Services Market Report at https://www.factmr.com/connectus/sample?flag=S&rep_id=759

“Today, the requirements of organizations are multi-pronged – from gaining a holistic customer view to agile data-to-execution operations, organizations need to invest in cognitive computing and advanced technologies to stay competitive,” says Shambhu Nath Jha, Senior Consultant at Fact.MR and co-author of the study.

“IBM Watson services have been positively disrupting and reforming operations across sectors, especially healthcare. From screening patient’s structured and unstructured data to regulatory requirements and medications, IBM Watson services are witnessing extensive adoption in the healthcare sector,” added Mr. Jha. The growing adoption of IBM Watson services in healthcare is further substantiated by Fact.MR’s findings that the sector currently accounts for nearly 21% revenue share, representing a market value worth US$ 318 Mn.

Improved Business Agility and Seamless Customer Service Identified as Key Advantages 

The Fact.MR survey further reveals that improvement in business agility is the most prominent motivation driving investment in IBM Watson services. Nearly 84% of respondents currently using IBM Watson services said that there was a marked improvement in business agility since the introduction of platform in their organization. An additional 82% said IBM Watson services helped their organizations in improving and transforming customer service.

“Customer service has often remained a key concern for organizations; despite the proliferation of advanced technologies and pervasiveness of smartphones, nearly 50% of customer support calls remain unresolved,” says Shambu Nath Jha. “The integration of artificial intelligence (AI) can mitigate this challenge, and offer seamless support for Tier 1 queries. The system can also effectively gauge the queries that require human intervention, and escalate those queries to a customer support executive if necessary,” adds Mr. Jha.

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Effective decision-making, handling colossal structured and unstructured data, and sales assistance are among the other key advantages of using IBM Watson services, according to the Fact.MR survey. “Effective decision-making entails a deep understanding of the unique needs and requirements of customers. Today, businesses are hard-pressed to understand the unique characteristics of their customers, and effectively map their existing and upcoming products to meet the overt and covert needs. IBM Watson can provide sophisticated recommendations that can facilitate effective decision-making,” Mr. Jha added.

Fact.MR’s report on the global IBM Watson services market projects a surge in investments to mitigate cybersecurity risks. According to Fact.MR, a majority of organizations have some level of cybersecurity apparatus in place. However, as Mr. Jha concludes, “tackling the potent cybersecurity threats will require a comprehensive ecosystem, rather than a symbolic front-line defense.”

The IBM Watson Services Market Report is Available for Direct Purchase at

https://www.factmr.com/checkout/759/S

SOURCE: EuropaWire