Medical Simulation Market Size Worth USD 5.25 Billion By 2026

The global healthcare/medical simulation market size is estimated to reach USD 5.25 billion by 2026, according to a new report by Grand View Research, Inc., rising at a CAGR of 16.3% during the forecast period. Rapid technological advancements, spiraling demand for minimally invasive treatment procedures, and increasing focus on patient safety are providing a fillip to the market.

Patient safety is one of the rising concerns in the healthcare industry due to increasing death rate from medical errors. For instance, as per a study published in 2016 by patient safety researchers in the British Medical Journal, medical errors in hospitals and other healthcare facilities are reported to be the 3rd leading cause of deaths in the U.S. Simulation provides opportunity to sharpen skills and develop expertise for safe and reliable system performance. High risk situations in military and aviation operations require specialized and polished skills for handling emergency situations. Thus, simulated settings help practitioners learn from mistakes by avoiding harm caused to patients. Therefore, growing focus on patient safety is expected to drive the healthcare simulation market.

Moreover, simulation-based medical learning and training can be valuable in clinical practice. These processes and systems can offer safe and controlled circumstances in which a problem-based learning is encouraged. Such factors are anticipated to bolster the growth of the market.

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https://www.grandviewresearch.com/industry-analysis/medical-healthcare-simulation-market

Further key findings from the report suggest:

• On the basis of products and services, healthcare anatomical models are projected to dominate the healthcare simulation market throughout the forecast horizon. The segment is mainly driven by its wide range of applications in the research & manufacturing industry for conducting trials and in the medical device industry for finalizing designs, processes, or systems.
• The hospitals segment is anticipated to witness the fastest growth during the same period. Medical/healthcare simulation plays an important role in preventing the overall risk of medical error recalls in dental clinics and hospitals.
• North America dominated the market in 2017, with a share of more than 40.0%, owing to rise in medical training institutes and number of hospitals, which are focusing on standardizing their teaching practices and taking efforts to reduce risk to patient safety
• Some of the key companies present in the healthcare simulation market are Canadian Aviation Electronics, Ltd.; Laerdal Medical AS; GMentice AB; Simulab Corporation; Simulaids, Inc.; and Surgical Science Sweden AB.

Women’s Health Diagnostics Market Size Worth USD 76.2 Billion by 2025

The global women’s health diagnostics market size is expected to reach USD 76.2 billion by 2025, according to a new report by Grand View Research, Inc. Rising adoption of point-of-care diagnostics and growing incidence of various chronic and lifestyle diseases are among the key factors stimulating the growth of the market. Besides this, introducing various awareness programs is also anticipated to work in favor the market during the forecast period. For instance, in 2014, the European Commission launched joint action for European Guide on Quality Improvement in Comprehensive Cancer Control.

Women’s health diagnostics is witnessing high growth due to increased funding from various organizations. For instance, in May 2015, Abcodia received funding of USD 8.0 million from Cambridge Innovative Capital, Scottish Equity Partners, Albion Ventures, and UCLB to launch Risk of Ovarian Cancer Algorithm (ROCA) test in the U.K. for early detection of ovarian cancer.

On the basis of end use, the market has been bifurcated into hospital & diagnostics centers and home. Hospitals and diagnostic centers accounted for a larger share in the market due to high number of visits to hospitals and more reliable detection.

The market in Asia Pacific is likely to witness significant growth over the coming years. The growth of the market can be attributed to increasing investments in healthcare, growing focus of international device manufacturers on strengthening their distribution networks within the region, and epidemiological shift from infectious diseases to chronic diseases within regional boundaries.

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https://www.grandviewresearch.com/industry-analysis/womens-health-diagnostics-market

Further key findings from the report suggest:

• Increasing investments by governments and private bodies and rising disposable income are providing a push to the market
• Cancer accounted for the highest share in the market in 2017. The segment will register noteworthy growth during the forecast period owing to availability of early detection tests and government initiatives to tackle cancer
• Prenatal testing is estimated to be the fastest growing segment during the same period owing to rising prevalence of prenatal diseases, increasing maternal age, surging healthcare expenditure, and development of advanced diagnostic tests
• Geographically, North America was the leading revenue contributor to the women’s health diagnostics market in 2017. It is anticipated to maintain its dominance through 2025, thanks to widening base of diagnostic and imaging centers, mounting cases of cancer, growing awareness about fertility testing, and spiraling adoption of point-of-care testing devices
• Some of the key players are Siemens Healthcare Private Limited; Hologic, Inc.;GE Healthcare; F. Hoffmann-La Roche Ltd.; bioMérieux SA; Koninklijke Philips N.V; Abbott; Becton, Dickinson and Company, Quest Diagnostics, Inc.; and PerkinElmer, Inc.

Nonmydriatic Handheld Fundus Camera Market Worth USD 186.4 Million By 2025

The global nonmydriatic handheld fundus camera market size is expected to reach USD 186.4 million by 2025, according to a new report by Grand View Research, Inc., registering a 9.1% CAGR during the forecast period. Increasing geriatric population has resulted in higher prevalence of age-related macular degeneration (AMD). Furthermore, rising incidence of diabetic retinopathy is expected to increase demand for ophthalmic screening devices, subsequently driving demand for nonmydriatic handheld fundus cameras.

According to laws and regulations by various medical devices agencies in U.S. as well as Japan, fundus imaging cameras must be replaced once in every four years. Hence, demand for these devices is likely to increase in these developed countries in the coming years. Supportive government regulations such as these are likely to have a positive impact on the nonmydriatic handheld fundus camera market.

Approximately 80.0% cases of blindness due to chronic diseases can be avoided by continuous and effective screening. Screening is the only way of detecting eye diseases at an early stage. In U.S., fundus photography procedures are covered by Medicare under CPT code 92250. Growing insurance coverage for such procedures is also likely to boost demand for handheld fundus cameras.

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https://www.grandviewresearch.com/industry-analysis/nonmydriatic-handheld-fundus-camera-market

Further key findings from the report suggest:

• Demand for portable fundus cameras is expected to grow at a rapid rate due to its ergonomic design and user convenience. This is expected to contribute to the growth of the nonmydriatic handheld fundus camera market
• According to the National Eye Institute, the number of people suffering from diabetic retinopathy, aged 40 and above, in U.S. is estimated to reach 11.4 million by 2030
• North America held a majority market share in 2017 due to increasing prevalence of vision related disorders, growing awareness about their treatments, and technological advancements in digital medical devices
• Government initiatives being undertaken for quality, affordable, and speedy healthcare delivery are likely to drive the market. Medicare, for instance, covers the cost of cataract surgery, ocular prosthesis, and glaucoma screening
• Increasing number of product approvals in U.S. has led to adoption of improved technologies by ophthalmologists. For instance, Topcon Medical Systems received clearance for 3D OCT-1 Maestro from the U.S. FDA in July 2016
• Asia Pacific is anticipated to be one of the fastest growing regional markets over the forecast period due to presence of a large patient pool, improved healthcare services, and increasing medical tourism in the region
• Some of the key companies active in the market are Topcon Medical Systems, Inc.; Carl Zeiss Meditec Group; Optomed Oy (Ltd.); OptoVue, Inc.; NIDEK Co., Ltd.; Canon, Inc.; and Clarity Medical Systems, Inc.

Colposcopy Market Size Worth USD 293.6 Million by 2025

The global colposcopy market size is projected to reach USD 293.6 million by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 7.0% during the forecast period. Increasing investments in the medical imaging industry and rising cervical cancer screening in developing countries are poised to trigger the growth of the market. Developing countries offer new investment avenues to global market giants. Developing healthcare infrastructure and expanding patient pool are rendering emerging countries promising destinations for global players in the market.

As per the findings of the World Health Organization, the number of new cervical cancer cases are estimated to reach 570,000 by end of 2018, accounting for 6.6% of total cancers related only to females. The number of deaths registered due to this type of cancer is higher in developing countries. It can be reduced by implementing a program which provides early diagnosis and effective treatment.

Governments in emerging economies are focusing on augmenting reach of cancer screening programs, which in turn is anticipated to boost the adoption of colposcopes. In addition, major market players are adopting advanced technologies by integrating various digital platforms with colposcopy equipment. Advent of high resolution imaging devices is expected to follow up integration, which is likely to replace conventional colposcopes, hence influencing the growth of the market.

Mergers and acquisitions and service portfolio expansion are some of the key strategies adopted by major players. For instance, in September 2016, DYSIS introduced an advanced imaging technique that has the ability to detect neoplasia and precancerous cells, which will help in diagnosing cancer. Prominent market players are also focusing on increasing their geographical reach.

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https://www.grandviewresearch.com/industry-analysis/colposcopy-market

Further key findings from the report suggest:

• The video modality segment is projected to register the fastest growth during the forecast period
• The pelvic segment is poised to exhibit a CAGR of over 7.1% during forecast period
• The handheld segment is estimated to expand at a lucrative CAGR during the forecast period
• Asia Pacific is anticipated to exhibit a CAGR of about 8.0% during the forecast period owing to improvised healthcare infrastructure, rising disposable income, and investments from global market players
• Some of the key players in this market are Karl Kaps GmbH & Co. KG; Carl Zeiss; Cooper Surgical, Inc.; DYSIS Medical Ltd.; ATMOS Medizin Technik GmbH & Co. KG; OLYMPUS CORPORATION; McKesson Medical-Surgical Inc.; Ecleris S.R.L.; Optomic and Seiler Instrument Inc.

Artemisinin Combination Therapy Market Worth USD 697.9 Million By 2025

The global artemisinin combination therapy (ACT) market size is expected to reach USD 697.9 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 8.5% during the forecast period. Rising adoption rate of ACTs coupled with growing government initiatives to combat malaria epidemic is anticipated to stoke the growth of the market. Furthermore, expanding pipeline and new product approvals are driving the market.

Currently, 6 ACTs are recommended by WHO for the treatment of uncomplicated malaria, which are Artemether-Lumefantrine (AL), artesunate-amodiaquine, Artesunate-Mefloquine (AS-AQ), Dihydroartemisinin-Piperaquine (DHA-PPQ), Artesunate-Sulfadoxine-Pyrimethamine (AS-SP), and Pyronaridine-Artesunate (PR-AS). Some of the benefits provided by ACTs are high efficacy and reduced likelihood of developing resistance. Over the years, access to artemisinin combination therapy has expanded considerably. In 2016, ACTs were used as first-line treatment in almost 80 countries.

Increasing R & D initiatives by pharma-emerging countries such as India and China are revving up the adoption rate of ACTs. Rising demand from malaria endemic countries such as Kenya, Uganda, Nigeria, and Congo is poised to augment the market. Pipeline for new antimalarial drugs is widening and some of them have been introduced recently. These are some of the factors that are propelling the ACT market.

WHO states the necessity for treating uncomplicated malaria, the most serious form of the disease, with ACTs as they are the best treatment available. ACTs are recommended over other treatments including Sulfadoxine-pyrimethamine, chloroquine, and artemisinin monotherapies, because parasites have developed resistance to these medicines.

Malaria is one of the most distressing diseases across the globe with more than 200 million new cases reported each year. According to Medicines Malaria Venture (MMV), a total of 445,000 deaths were caused by malaria worldwide in 2016. Malaria epidemic is continuing to increase globally and climate change is projected to fuel the trend.

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https://www.grandviewresearch.com/industry-analysis/artemisinin-combination-therapy-act-market

Further key findings from the report suggest:

• AL was the largest segment in 2017 due to the fact that it was the first ACT to be marketed and prequalified by WHO for its efficacy, safety, and quality. It is available in more than 60 countries and is the only ACT approved by U.S. FDA
• MEA held the largest share in the market for ACTs due to growing initiatives by government and non-government organizations to raise awareness
• Asia Pacific also held a prominent position in the market owing to factors such as large production base of artemisinin herbs coupled with rising access to ACT in this region
• Major players operating in the market are Novartis, Sanofi, Cipla, Ajanta Pharma, Ipca Laboratories, Guilin Pharmaceuticals, and KPC Pharmaceuticals
• Key players are adopting different strategies to increase their market share such as increasing geographic presence, R & D, new product development, and indication extension.

DNA & Gene Chip Market Worth USD 10.7 Billion By 2025

The global DNA & gene chip market size is expected to reach USD 10.7 billion by 2025, according to a new report by Grand View Research, Inc., at an 11.4% CAGR during the forecast period. DNA and gene chips have gained much success in providing high throughput capabilities for comprehensive genome studies to enhance disease knowledge and target them. This technology has emerged as a valuable and promising solution across various aspects of disease management. These factors have been driving the market.

Conventional means of gene analysis allow investigation of relatively small amounts of genes at a time, which further emphasizes on the uptake of DNA microarray technology. DNA microarray technology allows concurrent analysis of very large numbers of nucleic acid fragments in a single experiment.

Continuous development of new tools to support and enhance reliability of DNA microarray technology is likely to drive this market at a significant pace in the foreseeable future. Furthermore, healthcare entities are engaged in exploiting novel solutions for enhancing and combining data generated from gene chip with data generated from high throughput technologies. Mutually beneficial partnerships between microarray developers and pharmaceutical/biopharmaceutical companies for acceleration of genomic and biomedical research activities is anticipated to spur market growth in the coming years.

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https://www.grandviewresearch.com/industry-analysis/dna-gene-chip-market

Further key findings from the report suggest:

• Based on product, consumables dominated the market with the largest share. This is due to presence of large number of entities engaged in providing reagents and kits associated with the use of DNA chips
• The cancer treatment and diagnosis segment accounts for a significant share in the market owing to rising inclination toward development of companion diagnostics and growing usage of DNA microarrays in cancer diagnosis and treatment
• Implementation of gene chip for drug discovery is also expected to increase in the coming years owing to growing demand for personalized medicine
• By end use, academic/government research institutes accounted for the largest share in 2017. Ongoing research projects on gene expression analysis in these institutes have attributed for the estimated share
• In terms of region, North America dominated the market with by revenue. High penetration of major revenue generating companies in U.S. has contributed to its leading share
• Asia Pacific is projected to witness the fastest year-on-year growth owing to rising healthcare spending in developing economies and increase in R&D investment
• Some of the prominent market participants are Agilent Technologies; Thermo Fisher Scientific, Incorporated (Affymetrix, Inc.); Illumina, Inc.; Macrogen Inc.; and Arrayit Corporation. These players are engaged in mutual partnerships with research communities and other diagnostic firms for use of gene chips for targeting disease prognosis.

Asia Pacific Biopharma Excipients Market Worth USD 791.4 Million By 2025

The Asia Pacific biopharma excipients market size is poised to reach USD 791.4 million by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.63% during the forecast period. Patent expiry of blockbuster biologics such as Erbitux, Rituxan, Herceptin, Avastin, Aranesp, and Enbrel by 2030 is encouraging investments in biosimilars R&D by biopharma players. Soaring need for novel additives for development of biologics such as those enhancing lyophilization performance to improve stability of biologics is anticipated to boost the demand for excipients.

As per drug sales record of 2016, eight out of ten top-selling drugs are biologics. Upcoming patent expiry of biologics is leading to increased R&D for biosimilar formulations. Biopharma players in the market are adopting price reduction strategies in order to promote their products. This is triggering the need for consideration of pricing strategy among excipient manufacturers.

Presence of challenges in development of a stable form of biotherapeutic is urging manufacturers to develop novel excipients. Processing and storage of biomolecules are complicated as these products undergo degradation after a slight change in environmental conditions. Rising demand for chemicals that are compatible with these biomolecules and serve additional functions such as binding, bulking, and efficient delivery is stimulating the growth of the market. Technological advancements, such as implementation of nanotechnology in the development of novel compounds to enhance drug delivery, are likely to drive the market. For instance, an Australian provider of microencapsulation for drug delivery, Ceramisphere, expanded its operations for production of nanoparticles with extended-release capacity.

Furthermore, Asian countries such as India & China serve as major markets for biogenerics. Key pharmaceutical players in the market are increasing their R&D activities on follow-on-biologic. Biologics R&D is outsourced to CROs in the region as a consequence of cost efficiency provided by them, which is consequently boosting the demand for excipients.

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https://www.grandviewresearch.com/industry-analysis/asia-pacific-biopharma-excipients-market

Further key findings from the report suggest:

• Carbohydrates accounted the largest revenue share due to substantial product penetration in the market owing to higher availability of raw materials as well as easy molecular processing characteristics
• In terms of revenue, the polyols segment is projected to expand at a CAGR of 6.90% during the forecast period
• Japan dominated the market in terms of revenue. However, in terms of sale volume, the Japanese economy was not on the top as a consequence of high product pricing
• In February 2014, International Pharmaceutical Excipients Council of India (IPEC) was launched. Leading international pharmaceutical companies are founder members of this council, which includes Dow Chemicals, Lubrizol, BASF, SPI Pharma, Colorcon, Indchem International. It is estimated to assist the government of India in evolving direction, standards, and development of the excipient industry in the country, thus working in favor of the market
• In August 2016, China FDA announced to review excipients as a part of new drug application. The former system considered separate review approvals for a drug, its excipient, and its active ingredient.
• Some key companies present in the market are Roquette, DFE Pharma, Pharmonix, Spectrum Chemical Manufacturing Corp., IMCD, Clariant, Signet Chemical Corporation Pvt. Ltd., Sigachi Industries Pvt. Ltd., ABITEC, Colorcon, Meggle AG, SPI Pharma, and BASF SE.

Primary Cell Culture Market Worth USD 5.4 Billion By 2025

The global primary cell culture market size is expected to reach USD 5.4 billion by 2025 and is expected to register a CAGR 10.6% during the forecast period,according to a new report by Grand View Research, Inc. Growth in production of vaccines, monoclonal antibodies, and regenerative medicines, patent expiration of blockbuster biologics, and rising demand for stem cell therapy and tissue engineering are factors promoting the growth of this market. These trends are attracting big players in healthcare and medical research toward this field.

Primary cell culture is increasingly being used in fields such as drug screening, organogenesis, disease diagnosis, biological product manufacturing, cancer research, and stem cell research. Due to their increased use in various healthcare domains, private medical organizations, pharmaceutical and biotech companies, education, research and government organizations have increased their investments and funding in this market.

Primary cells show high physiological resemblance to the tissues and organs they are extracted from. This provides immense help to researchers and scientists in understanding various complexities related to drug pathways, studying diseases and drug development, and their effect on biological site of action in-vivo. Due to these qualities, their use has increased in biopharmaceuticals, transplants, and chronic disease therapies. Their sprouting customized use for different research purposes is also a key trend in the industry.

However, there are many ethical concerns over the usage of human embryonic cells, which poses as a major restraint in the growth of this market. Usage of transgenic plants and animals and stem cells, as well as stringent rules and regulations associated with it, will also negatively affect market growth in the years to come.

Currently, North America holds the largest share in the market, with Asia Pacific expected to witness the fastest growth during the forecast period. This can be attributed to rising per capita incomes, growing healthcare affordability, and improving economic status of countries such as India and China.

Commercial players in this market are mostly established companies; however, several new players have been making their presence known in recent years. Some of the key players are Merck KGaA; Lonza; Promocell GmbH; GE Healthcare; and Corning, Inc.

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https://www.grandviewresearch.com/industry-analysis/primary-cell-culture-market

Further key findings from the report suggest:

• Growing need for stem cells transplants and increasing number of clinical research studies and medical therapies for chronic diseases are expected to drive the market
• Increasing prevalence of chronic illnesses all over the world and ongoing researches in several therapeutic areas has resulted in rapid advancements in stem cell therapy, cancer treatment, gene therapy, and regenerative medicine
• While media held the dominant share by way of product, the reagents and supplements segment is expected to register a CAGR of 10.8% during the forecast period
• On the basis of separation and culture technique, enzymatic disaggregation held the dominant share in 2017. This is due to high productivity yield and less damage associated with this technique. Enzymes widely used for carrying out degradation process include trypsin, collagenase, and papain
• North America holds the largest revenue share in the market. Registering a CAGR of 12.2% during the forecast period, Asia Pacific is poised to emerge as the fastest growing region in the coming years
• Lonza, Merck, Thermo Fisher, and GE Healthineers are some of the leading players in this market. The number of new players venturing in this space is increasing each year.

Hi-Tech Medical Devices Market Size Worth USD 197.87 Billion by 2025

The global hi-tech medical devices market size is expected to reach USD 197.87 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 29.8% during the forecast period. Employee wellness programs along with enhanced precision, aesthetics, and durability of devices are among the primary growth stimulants for the market.

Market players are focusing on aesthetics while designing these devices as they are meant for daily wear. There are immense opportunities for players who are developing luxury watches and jewelry that have all features of smart wearables, which is certain to attract luxury spenders. New generation of consumers demand innovative luxury items with a blend of exclusivity, fashion, and connectivity, which serves as a key driver for the demand for hi-tech medical devices.

North America held a substantial share in the hi-tech medical devices market in 2017, due to high accessibility of supportive infrastructure such as hi-speed internet connection, presence of a raft of multinational companies, and increasing awareness among people. Besides, multinational companies (MNC) provide various schemes that allow users buy devices at a lesser price. Asia Pacific is anticipated to witness phenomenal growth in the coming years, owing to high unmet needs, improving healthcare infrastructure, and rising per capita expenditure. Moreover. presence of a large user base and booming economy, especially in India and China, are also bolstering the growth of the regional market.

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https://www.grandviewresearch.com/industry-analysis/hi-tech-medical-devices-market

Further key findings from the report suggest:

• Smart phones emerged as the largest segment owing to their integration with other devices such as smart watches and fitness trackers
• Fitness trackers are expected to witness the fastest growth during the forecast period
• Handheld devices dominated the market in 2017. This can be attributed to advent of innovative cameras, high speed internet connection, larger storage capacity, and fast processers
• North America dominated the hi-tech medical devices market in 2017, owing to existence of various multinational companies and presence of supportive infrastructure such as hi-speed internet connection
• Some of the prominent companies operating in the market are Apple; Google; Adida AG; Nike, Inc.; Samsung; Sony Corporation; Xiaomi; CAE HEALTHCARE; and Virtual-Realities Ltd.

U.S. PRP and Stem Cell Alopecia Treatment Market Worth $183.3 Million By 2025

The U.S. PRP and stem cell alopecia treatment market size is expected to reach USD 183.3 million by 2025 at a 5.1% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Factors contributing to the growth of this market include rise in disease awareness, increased treatment rate, and growing adoption of novel treatment therapies providing positive patient outcome. Moreover, lower incidences of negative side effects due to this therapy is anticipated to fuel demand for platelet rich plasma (PRP) and stem cell therapy.

Adoption of PRP and stem cell therapy for alopecia is expected to increase owing to rise in number of patients preferring novel therapies over conventional therapies. In addition to this, shorter treatment duration, faster hair regrowth, and improved patient outcome are expected to drive demand for these therapies over the forecast period.

By treatment type, PRP procedures accounted for the largest share of 58.1% in 2017 in terms of procedural volume. However, owing to lower prices of PRP procedures, stem cell therapy procedures accounted for the dominant revenue share in 2017, valued at USD 70.1 million. By end use, the dermatology clinics segment accounted for 85.0% of the total market revenue in 2017, owing to its lower therapy cost as compared to hospitals.

The competitive landscape includes clinics such as Orange County Hair Restoration Center, Hair Sciences Center of Colorado, Evolution Hair Loss Institute, Savola Aesthetic Dermatology Center, PLC, NovaGenix, Virginia Surgical Center, and Hair Transplant Institute of Miami.

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https://www.grandviewresearch.com/industry-analysis/us-platelet-rich-plasma-prp-stem-cell-alopecia-treatment-market

Further key findings from the report suggest:

• PRP procedures dominated the market in terms of volume in 2017, owing to its safety, effectiveness, and minimal chances of failure
• Stem cell therapy accounted for the dominant revenue share in 2017 owing to higher prices of PRP procedures as compared to stem cell therapy. The segment was valued at USD 70.1 million in 2017
• The dermatology clinic segment held the largest revenue share in 2017, accounting for USD 105.2 million
• Some of the clinics providing PRP and stem cell therapy for alopecia in this market are Hair Sciences Center of Colorado, Anderson Center, PLC, Nova Genix, and Hair Transplant Institute of Miami.

Medical Equipment Rental Market Size Worth USD 64.07 Billion by 2025

The global medical equipment rental market size is expected to reach USD 64.07 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.4% during the forecast period. Expanding base of geriatric and disabled population coupled with rising need for home healthcare products is propelling the market.

Rising demand for technologically advanced clinical devices and increasing healthcare expenditure is encouraging R&D activities in the medical devices industry are resulting in launch of expensive variants of medical products. This is anticipated to positively influence the growth of the medical equipment rental market.

Dominance of durable medical equipment (DME) can be attributed to increasing adoption of personal mobility and assist aids by disabled individuals. In addition, surging demand for monitoring and therapeutic instruments owing to increasing patient pool and continuous technological upgradation in these devices are spurring the growth of the DME rental market.

Emergence of financial services for leasing healthcare apparatus in the past few years has emerged to be a boon for hospitals, institutes, and other healthcare providers. Moreover, renting equipment confers cost benefits to end users, as it reduces ownership costs and in turn allows these players to adopt advanced product modules.

Rising concerns regarding palliative care coupled with regulatory transformations for the same are poised to augment the market. Regulatory transformation or programs adopted by hospitals for palliative care are resulting in increased demand for rental equipment.

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https://www.grandviewresearch.com/industry-analysis/medical-equipment-rental-market

Further key findings from the report suggest:

• DMEs emerged as the largest product segment in 2017 owing to increasing disabled population
• Hospitals dominated the market in 2017 owing to heightened demand for rental devices for cost benefits
• North America is projected to lead the market throughout the forecast horizon. Improving awareness about home healthcare and increasing demand for novel technologies are supporting the dominance of the region
• The market in Asia Pacific is estimated to witness healthy growth during the forecast period owing to faster adoption of advanced equipment for quality healthcare practices
• Few of the key market players include Hill-Rom Holdings, Inc., Westside Medical Supply, Nunn’s Home Medical Equipment, Siemens Financial Services, Inc., Woodley Equipment Company Ltd.; and Universal Hospital Services, Inc.