Telemedicine Technologies and Services Market Outlook and Forecast up to 2023

According to a new market research report published by Transparency Market Research “Telemedicine Technologies and Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023”, the global telemedicine technologies and services market was valued at US$ 21.1 Bn in 2014 and is estimated to reach US$ 86.7 Bn in 2023, expanding at a CAGR of 17.2% from 2015 to 2023.

Telemedicine is the union of health care and telecommunication/information technology aimed at providing assistance to individuals in remote areas who do not have access to health care centers in times of need. Critical care and emergency situations are the primary areas for which telemedicine evolved in practice. The health care industry has always been one of the most lucrative, yet steadily growing, industries across the globe. Requirement of health care is termed as critical and crucial to the sustenance of life, hence considered an important industry. Growth of the telemedicine market is primarily attributed to the rise in quality health care services and products adopted by patients worldwide. The telemedicine market has been largely driven by increasing reimbursements received by health care insurance providers that trickle down to the patient population.

The rising geriatric population along with increasing cases of physical disability promotes usage of telemedicine among a significant portion of the global population. However, dearth of medical practitioners dedicated to telemedicine service is a major issue globally. Moreover, growing concern among patients about the inadequacy of virtual consultation presents a challenge to the growth of the telemedicine market. The global telemedicine technologies and services market was valued at US$ 21,124.2 Mn in 2014 and is projected to reach US$ 86,754.8 Mn by 2023 at a CAGR of 17.2% from 2015 to 2023.

Based on component, the telemedicine technologies and services market has been segmented into hardware, software, and services. The hardware segment has been categorized into videoconferencing unit, imaging unit, vital signs unit, ECG, and others. The videoconferencing unit sub-segment accounted for the largest share of the hardware segment in 2014. The segment will continue to dominate the market until 2023 due to increase in preference for videoconferencing units for telemedicine solutions. The imaging unit segment is expected to expand at the highest CAGR from 2015 to 2023 owing to high demand for imaging services, mostly preferred for radiology and digital pathology services, and rapid technological advancements in the imaging segment. However, concerns over confidentiality of patient’s medical information is likely to hamper the growth of the telemedicine technologies and services market during the forecast period.

Based on software, the telemedicine technologies and services market has been segmented into integrated and standalone. The integrated software segment dominated the market in 2014 due to high adoption rate and technological innovations. Telemedicine services (interactive, store and transfer, and chronic care management) is the most promising segment of the telemedicine market owing to worldwide popularity and ability to provide high definition and quality medical services in remote areas. People in developing nations cannot afford technologically advanced products due to financial crisis and low disposable incomes. Hence, they opt for cost-effective and consistent telemedicine services. Therefore, the services segment is likely to gain momentum in developing countries such as India, China, Brazil, and South Africa.

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Based on end-user, the global telemedicine technologies and services market has been segmented into telehospital/teleclinic and telehome. The telehospital segment dominated the market primarily due to high adoption rate of technologically advanced and cost-effective innovative telemedicine services and products and rising preference of patients toward telemedicine services for telehospital.

The global telemedicine technologies and services market is characterized by the presence of major companies such as Aerotel Medical Systems Ltd., AMD Global Telemedicine, Inc., General Electric Company, Honeywell International, Inc., and LifeWatch AG.

U.S. Pregnancy Products Market - Latest Innovations, Drivers, Restraints, Challenges and Forecast 2015 - 2023

Pregnancy presents several health-related challenges, for both the expecting mother and the baby. These challenges include diet to follow, medicines to take, and handling the several changes the body goes through. Skin care is another major challenge during pregnancy and the postpartum period. The ingredients in skin care products used during pregnancy are absorbed by the body. Therefore, pregnant women must use skin care products that are safe and do not cause any side effects. Several skin-related issues occur during pregnancy. These include stretch marks due to tearing of the dermis, especially in the third trimester, sagging skin that adds on layer of skin on thighs, tummy, waist, arms, and legs. Moreover, majority of women suffer from severe pain in body parts such as leg, hip, back, vagina, and thigh during pregnancy. Currently, several products are available in the market to overcome these skin-related issues during pregnancy and postpartum.

Based on type of product, the pregnancy products market in the U.S. has been classified into stretch mark minimizer, body restructuring gel, toning/firming lotion, itching prevention cream, nipple protection cream, breast cream, stressed leg product, and others. The others segment consists of moisturizing lotion, facial cream, dark spot treatments, etc. The stretch mark minimizer segment held the largest share of the pregnancy products market in the U.S. in 2014. The segment is likely to continue to dominate the market during the forecast period. However, the others segment is projected to expand at the highest growth rate from 2015 to 2023. Increase in the number of pregnant women in the U.S. and rise in distribution channels such as hypermarkets, supermarkets, retail stores, and online are likely to drive the pregnancy products market in the U.S. However, side effects associated with pregnancy products could hamper demand and limit the usage of pregnancy products.

Region-wise, the pregnancy products market in the U.S. has been segmented into Western United States, Southern United States, Northeastern United States, and the Central United States. Southern United States accounted for the largest share of the pregnancy products market in the U.S. in 2014. The region is likely to continue its dominance of the market during the forecast period due to high (total) fertility rate, rise in pregnancies, and increase in awareness among the female population. However, the pregnancy products market in Northeastern United States is anticipated to witness the fastest growth rate from 2015 to 2023. Factors such as decline in unintended pregnancies among teenagers can hinder the growth of the pregnancy products market in the U.S.

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Television advertisements, information brochures, newspapers, magazines, online, and other media have proved to be effective mediums to spread awareness among women about the treatment of skin-related and other issues during pregnancy and postpartum. This provides an opportunity for manufacturers in the pregnancy products market in the U.S.

Major players in the pregnancy products market in the U.S. are Clarins Group, Expanscience Laboratories, Inc. (Mustela), Mama Mio US, Inc. (Mio), Noodle & Boo, Novena Maternity, Nine Naturals, LLC, and E.T. Browne Drug Co., Inc. (Palmers)

Leading Players in Healthcare Cyber Security Market

A new report from Transparency Market Research, titled ‘Healthcare Cyber Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023,’ states that the global market is expected to expand at a rapid pace during the period between 2016 and 2023 due to increasing cyber-attack threats, improvements in healthcare infrastructure, and increasing spending.

Cybersecurity technologies are fast evolving across the globe owing to the changing digital landscape, where security threats are becoming more damaging and smarter. Today, amid the connected health environment, cyber security is not an option, rather it is a compulsion. For every organization, cyber security has become a strategic asset. The healthcare industry is increasingly implementing healthcare IT infrastructure to easily access, send, receive, and manage health care data. The rise in the patent violation cases, medical identity frauds, loss of patient information, and business record breaches are predicted to propel the global healthcare cyber security market in the years to come.

The global healthcare cyber security market is segmented on the basis of end user, region, and solution type. By region, the global healthcare cyber security market is divided into North America, Europe, Asia Pacific, and Rest of the World. Currently, North America dominates the global healthcare cyber security market owing to the increasing presence of a developed medical and healthcare infrastructure. Going forward, factors such as the increasing spending on healthcare information technology, the availability of medical and pharmaceutical devices, and the rising government support are expected to propel the North America healthcare cyber security market.

Asia Pacific is expected to be the attractive market in the years to come owing to economic developments in nations such as India, Japan, and China. Further, the Asia Pacific healthcare cyber security market is expected to grow swiftly due to the rapid enhancements in the healthcare sector. Developing a technically advanced cyber-system platform is a necessity today. Leading players such as Cisco Systems, Inc., MacAfee, Inc., Symantec Corporation, IBM Corporation, Palo Alto Networks, Inc., Lockheed Martin Corporation, Northrop Grumma Corporation, FireEye, Inc., and Kaspersky Lab are taking efforts to introduce new healthcare cyber security platforms in the global market.

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By solution type, the global healthcare cyber security market is classified into identity and access management, intrusion detection system, risk and compliance management, antivirus, data encryption software, antimalware, firewall, and others. Currently, the global healthcare cyber security market is dominated by the identity and access management segment. Based on end user, the global healthcare cyber security market is classified into medical devices companies, pharmaceutical and chemical manufacturers, hospitals, and health insurance companies.

Active Pharmaceutical Ingredient Market - Latest Trends & Insights 2023

Active Pharmaceutical Ingredient (API) refers to a substance or substance combination used in manufacturing a drug product. The active pharmaceutical ingredient market has been categorized by manufacturing process, API type, drug type, therapeutic area and geography. Manufacturing processes in the global API market include captive and contract manufacturing. The captive API manufacturing segment comprises the active pharmaceutical ingredients produced for internal consumption of a pharmaceutical company. Captive manufacturing accounted for the highest market share in 2014, however the share of this market segment is expected to witness a decline due high degree of competition from contract manufacturing and reduced profitability and thus increased preference for outsourcing API production over captive production. Outsourcing production helps pharmaceutical companies focus on their core business of developing new drug products. Contract manufacturing is being preferred because of its advantage in terms of capital and labor costs, access to advanced manufacturing technologies, and benefits from the global distribution network.

The global active pharmaceutical market is segmented into API types: synthetic chemical API and biological API. The synthetic chemical API segment held the largest share of more than 70% of active pharmaceutical market in 2014. This market segment has evolved in the past few years due to innovations in the methods of synthesizing chemical APIs, which improves their stability and potency. The large volume of the demand is an important reason for the larger share of synthetic chemical API segment. On the other hand, the biological API market segment is expected to have the highest growth rate of 8.1% during the forecast period of 2015-2023. Large pharmaceutical companies are scaling down their small molecule manufacturing facilities to focus on biologic drugs, thereby presenting greater opportunities for contract manufacturing companies. The overall cost of drug development program for biologics is less as compared to chemical APIs, primarily because of high success rates in the pipeline phase. This factor has attracted higher investments in the biologics and biosimilars market.

Drug types in the global API market include branded prescription drug, generic prescription drug and OTC drugs. The branded API segment accounted for the largest share of 76% in the global API market in 2014. The factors driving the branded prescription drugs include government initiatives that has lowered the copayment on generics while raising it on the branded drugs. The increasing demand for biological drugs and supportive policies of the European Union toward biosimilars is also one of the major driving factors to boost branded API market. Moreover, the generic prescription drugs segment is expected to grow at the highest rate of 7.3% during the forecast period. With the rising cost of healthcare, governments and payers are pushing for the increasing generics consumption over branded drugs, thus driving growth of the generic APIs market. Over-the-counter (drugs) are considered sufficiently safe and effective for use without prescriptions from health care professionals and hence would continue to grow at a steady rate during the forecast period.

Based on the therapeutic area, the global API market is segmented into various disorders such as cardiovascular, metabolic, disorders, oncology, musculoskeletal, non-steroidal anti-inflammatory drugs (NSAIDs), and others. The cardiovascular disorder segment held the largest share of global active pharmaceutical ingredient market during the forecast period. Cardiovascular, metabolic, and neurological disorders held a combined market share of over 50% in 2014 due to the rising geriatric population, increasing prevalence of cardiovascular diseases, diabetes and neurological disease globally. Whereas, the oncology segment is expected to grow at the highest rate of 8.2% during the forecast period owing to the rising prevalence of cancer. The significant growth observed in oncology API has helped companies to prefer specialized manufacturing plants for oncology drugs. The musculoskeletal disorders, NSAIDs and other therapeutics area is anticipated to grow at a steady rate during the forecast period of 2015 to 2023.

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Geographically, North America dominated the active pharmaceutical ingredient market in 2014 with a share of 35.1% owing to factors such as higher consumption of API due to the presence of major pharmaceutical companies in this region. Biologics have become one of the top-selling drugs in North America. Thus, the expected market entry of biosimilars with flexible regulatory process would further boost the API market in North America. Japan, China, India and South Korea, the leading pharmaceutical hubs in Asia are majorly responsible for almost 30% of the total market share placing the region at the second position in the world. Major factors driving the API markets in China and India are the availability of low cost production facilities and labor cost. Other factors driving the market in the region include the tax incentives, rising government expenditure on health care and government plans to restructure the fragmented industry. Europe accounted for a market share of 21.6% in 2014. The governments of various countries in Europe have started supporting the manufacture of generic drugs post the financial crisis. Patent expirations of major blockbuster drugs in Europe would fuel the growth of the API market in the near future. Demand for generic drugs is increasing not only in developed countries, but also in developing and underdeveloped countries in South America and Africa. Brazil and South Africa are the important centers of pharmaceutical manufacturing in this regional segment. Factors boosting the growth of the market in developing regions are cost-efficient manufacturing, large number of patients, rising demand for generic drugs, and improvement in the healthcare infrastructure.

Teva Pharmaceutical Industries Ltd dominated active pharmaceutical ingredients market in 2014. Major factors attributed to its dominance are broad product portfolio and high market penetration. Zhejiang Medicine Co., Ltd. and Zhejiang NHU Co., Ltd secured the second market position in 2015. North China Pharmaceutical Group Corp. (NCPC) and Northeast Pharmaceutical Group Co., Ltd. held the third position in 2015. Other players in the active pharmaceutical ingredients market include Dr.Reddy's Laboratories Limited, Sandoz (Novartis AG), Aurobindo Pharma Limited, Zhejiang Hisun Pharmaceutical Co., Ltd. and Zhejiang Huahai Pharmaceuticals Co., Ltd. and others.