Medical Device Cleaning Market Size Worth USD 15.9 Billion By 2025

The global medical device cleaning market size is expected to reach USD 15.9 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.3% during the forecast period. High adoption of advanced methods and materials to prevent infections in hospitals and increase in the number of hospitals & other healthcare facilities, including clinics, are expected to boost market growth.

Other key factors expected to enhance the market growth include strict regulations and guidelines to reduce incidences of hospital-acquired infections coupled with introduction of novel methods & materials for cleaning, disinfecting, and sterilizing medical devices. Increase in the number of contractual service providers for reprocessing and manufacturers of materials required in these processes is also anticipated to propel the market.

Guidelines and regulation by U.S. FDA play an important role in determining market dynamics. They profile various materials along with their effects in cleaning & disinfecting medical devices and risks associated with them. In addition, they regulate standards of tests for disinfection. Most developing countries follow similar guidelines, especially those in the Asia Pacific region, where medical tourism is booming and primary customers include patients from developed countries.

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https://www.grandviewresearch.com/industry-analysis/medical-device-cleaning-market

Further key findings from the report suggest:

• Semi-critical devices accounted for the largest share in 2017 and is expected to dominate throughout forecast period. High usage and need for repeated sterilization between patients are among the key factors anticipated to drive the growth of the segment
• The disinfection segment dominated the market in 2017 and is expected to maintain the largest share throughout the forecast period. Introduction of novel and advanced disinfectants is likely to supplement the growth of the segment
• Sterilization is expected to exhibit the fastest growth during the forecast period. Adoption of advanced sterilization procedures in hospitals is expected to boost the growth of the segment
• Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period. High demand for advanced medical device reprocessing equipment and materials owing to increasing medical tourism is one of the primary growth drivers in the region.

Trauma Devices Market Size Worth USD 11.2 Billion By 2025

The global trauma devices market size is expected to reach USD 11.2 billion in 2025, according to a new report by Grand View Research, Inc., registering a 6.1% CAGR during the forecast period. Increasing incidence of severe fractures and rising expenditure on research and development of trauma devices are among key factors likely to drive the market during the forecast period. Medical devices used for fixation of small bones and joints are categorized under orthopedic trauma.

The market for trauma devices is likely to witness high growth in the coming years due to rising geriatric population and surge in number of road accidents. The market is driven by technological advancements, with key players introducing array of products through extensive research capabilities and expanding their segment portfolio through partnerships with other players.

For instance, in July 2017, Cardinal Health acquired the patient recovery business from Medtronic for USD 6.1 billion. The acquisition helped expand Cardinal Health’s portfolio by adding 23 product categories, including segment leader brands such as Kendall, Curity, Kangaroo, Dover, and Argyle.

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https://www.grandviewresearch.com/industry-analysis/trauma-devices-market

Further key findings from the report suggest:

• Rising number of road accidents and increase in expenditure on research and development is expected to drive the trauma devices market from 2018 to 2025
• Osteoporotic fractures affect around 8.9 million people every year, mainly menopausal women, and causes osteoporotic fracture in more than 30.0% women over the age of 50
• Around 40.0% of trauma injuries occur due to falls and motor vehicle accidents. Elderly population as well as children below the age of 7 are more prone to falls. Motor vehicle accidents account for over 28% of trauma injuries
• Internal fixators dominated the market by type in 2017; however, external fixators are anticipated to grow at the fastest rate over the forecast period
• Key industry contributors include Depuy Synthes, Stryker; Zimmer Biomet, Smith & Nephew, Wright Medical Group N.V., Advanced Orthopaedic Solutions, Integra LifeSciences, Acumed, Bioretec Ltd., and Cardinal Health.

Eye Examination Equipment Market Size Worth USD 8.8 Billion By 2025

The global eye examination equipment market size is expected to reach USD 8.8 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.2% during the forecast period. Increasing prevalence of eye-related disorders is anticipated to drive the demand for advanced ophthalmic treatment procedures over the forecast period.

Growing global geriatric population is another factor propelling the optometry/eye examination equipment market. According to U.S. Census Bureau published on June 2017, the total population aged 65 and older in the U.S. increased to 49.2 million in 2016, accounting for 15.2% of the total population, from 35 million in 2000, which represented only 12.0% of the total population. Mounting cases of age-related disorders including glaucoma, cataracts, and age-related macular degeneration (AMD) are likely to stoke the growth of the market.

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https://www.grandviewresearch.com/industry-analysis/optometry-eye-examination-equipment-market

Further key findings from the report suggest:

• Growing prevalence of eye diseases and influx of technologically advanced ophthalmic devices are anticipated to boost the growth of the optometry/eye examination equipment market over the forecast period
• Ophthalmic ultrasound imaging systems are expected to exhibit the fastest growth over the coming years, owing to rising penetration of  B-Scan ultrasound
• Hospitals accounted for the largest revenue share in the market in 2017, owing to rising ophthalmic surgical procedures in hospitals
• North America held the dominant share in the optometry/eye examination equipment market in 2017, due to presence of well-established healthcare setting and treatment facility, surging demand for technologically advanced healthcare products, and favorable reimbursement facilities.
• The market in Asia Pacific, especially Japan and India, are estimated to witness remarkable growth during the forecast period due to increasing investments in the healthcare sector. In Feb 2017, the Japan government invested USD 500 million to build a new eye hospital in order to fulfil the vision 2020 approach by WHO.
• Some of the key companies present in the market are Carl Zeiss Meditec AG; Bausch & Lomb Inc.; Johnson & Johnson Vision Care Inc.; Novartis AG; NIDEK CO.; LTD; and Canon

Cannula Market Size Worth USD 212.0 Million by 2026

The global cannula market size is expected to reach USD 212.0 million by 2026 at a 7.5% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for minimally invasive surgeries, growing number of surgeries among geriatric population, advancement in healthcare facilities, and rising government support and R&D investments are anticipated to drive the cannula market.

The market is also driven by increasing prevalence of lifestyle-related diseases such as obesity. Market players are continuously involved in introducing new technologies to cater to this trend. PROTEK Duo cannula, new injection molding technology and single-use cannulas for surgery, is one such example.

Key players operating in the market are using different strategies such as new product development, investment in R&D, acquisitions, partnerships, joint ventures, and agreements to increase their foothold in this market.

The cannula market in developed economies, such as U.S., Germany, France, and Australia, is comparatively mature owing to presence of well-established market players in these countries and high demand for such products.

On the other hand, developing countries in Asia and Latin America currently have a moderate adoption rate of these products, thus presenting more scope for market expansion. Growth of medical tourism and rising patient awareness in these countries are anticipated to propel the market. Manufacturing companies investing in these rapidly developing markets are expected to grow at a lucrative rate, provided pricing and distribution activities are undertaken efficiently.

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

Further key findings from the report suggest:

• Dermatology cannulas are projected to witness a CAGR of more than 8.0% over the forecast period. This can be attributed to massive patient pool and increasing number of surgeries, especially in U.S.
• Asia is estimated to witness the highest growth rate in the global market, due to increase in penetration of market players, large geriatric patient pool, and increasing healthcare expenditure
• Some of the key companies in the market are Medtronic, Edward Lifesciences, LivaNova, Terumo Corporation, Teleflex, Smiths Medical, Boston Scientific Corporation, CONMED, and Smith & Nephew.

Trocars Market Size Worth USD 991.1 Million By 2026

The global trocars market size is estimated to reach USD 991.1 million by 2026, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.3% during the forecast period. Rising geriatric population, increasing reliance on laparoscopic surgeries, and favorable reimbursement policies in developed countries are some of the primary growth stimulants for the market.

Favorable reimbursement policies by governments and key players for surgical devices and instruments are projected to boost the growth of the market over the forecast period. Key players are providing favorable reimbursement policies in order to promote minimally invasive surgeries, laparoscopic surgeries, and bariatric surgeries. For instance, Ethicon (subsidiary of Johnson & Johnson) conducts Reimbursement Support Program to help healthcare providers with reimbursement related to laparoscopic surgeries and minimally invasive surgeries. These initiatives are most likely to help healthcare providers to take up these procedures instead of traditional ones. Thus, these factors are likely to drive the market over the forecast period.

In addition, the volume of surgeries has increased manifolds due to increasing geriatric population worldwide. Geriatric population are prone to various diseases, which require various surgical interventions for treatment. According to estimates published by WHO, the global elderly population is likely to increase from 841.0 million in 2014 to more than 2.0 billion by 2050.

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

Further key findings from the report suggest:

• The global disposable trocars market is expected to dominate the market in 2017. Disposable trocars deliver high quality medical output and the chance of post-operative infection is low.
• Optical trocars are anticipated to be the fastest growing segment with a CAGR of over 4.5% owing to increasing demand for technologically advanced devices for surgeries
• Gynaecological surgery represented the largest share in 2017, with a valuation of USD 174.64 million, owing to increasing prevalence of gynaecological disorders across the globe.
• North America dominated the market in 2017 and accounted for approximately half of market revenue. Rising number of surgeries, advancements in healthcare infrastructure, and increasing demand for technologically advanced surgical procedures are contributing to the growth of the region
• Asia Pacific is poised to witness the highest growth in the market due to high population, rising geriatric population, and expanding base of patients with unmet needs
• Some of the key companies present in the market are CONMED Corporation; The Cooper Companies Inc.; Teleflex Incorporated; GENICON, Inc.; Medtronic; B.Braun Medical Inc.; and Johnson & Johnson.              

Cardiovascular Ultrasound Market Worth USD 1.87 Billion by 2025

The global cardiovascular ultrasound (CVUS) market size is expected to reach USD 1.87 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.8% over the forecast period. Rising investment in Medtech industry, increasing R&D activities, and high prevalence of cardiovascular diseases are the key factors driving market growth.

Benefits associated with cardiovascular ultrasound over conventional methods include quick recovery, reduced span of hospitalization, and fewer post-operative complications. These benefits along with rising geriatric population are expected to propel demand of cardiovascular ultrasound diagnosis over the forecast period.

North America captured the largest market share in 2017. Favorable reimbursement framework and presence of a large number of industry players are some of the major factors which can be attributed to the regional growth. Rising geriatric population coupled with sophisticated healthcare infrastructure are expected to further fuel market growth in the region. Furthermore, increasing health awareness is driving the demand.

Some of the key players in the cardiovascular ultrasound market include Philips; GE Healthcare, Inc.; Hitachi; Fujifilm Medical Systems; Siemens Healthcare; and Canon Medical Systems Corporation.

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https://www.grandviewresearch.com/industry-analysis/cardiovascular-ultrasound-system-market

Further key findings from the report suggest:

• Cardiovascular ultrasound market was valued at USD 1.38 billion in 2017 and is expected to grow lucratively over the forecast period
• Fetal echocardiography segment is anticipated to expand at the fastest CAGR
• Doppler segment was valued at USD 0.6 billion in 2017 and is anticipated to rise at a lucrative CAGR during the forecast period

• Ambulatory care centers segment is expected to witness the fastest CAGR in the forthcoming years.

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.

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.

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.

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.

Wound Debridement Market Worth USD 6.97 Billion By 2025

The global wound debridement market size is anticipated to reach USD 6.97 billion by 2025 at a 6.10% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Rising cases of injuries that require cleaning and removal of necrotic tissue are leading to increasing demand for wound debridement products.

Wound debridement products help in eliminating or reducing the load of microbes and toxins that inhibit wound healing. Increasing incidence of diabetes and obesity escalates the level of chronic wounds such as diabetic foot ulcers. As per the International Diabetes Federation, the incidence of diabetes is expected to reach 642.0 million by 2040. Prevention of wound infection is one of the major concerns for diabetic patients, making wound debridement vital. With increase in number of diabetics in U.S., demand for wound debridement is on a rise. Burns are the most common wounds and account for around 195,000 deaths annually. This, in addition to rise in awareness regarding the importance of wound debridement, is expected to positively affect the market in the coming years.

Development of advanced wound debridement products is also boosting market growth. For instance, launch of keratin-based wound care products that are used along with dressings have proven to be extremely helpful in wound re-epithelialization. The keratin matrix is absorbed in the wound and eliminates the need for dressing change. Such developments are anticipated to create growth opportunities for market players in the coming years.

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https://www.grandviewresearch.com/industry-analysis/wound-debridement-market

Further key findings from the study suggest:

• Gels accounted for the largest share by product in 2017 due to advantages such as no inflammation, reduced bleeding, and safe removal of necrotic tissues without causing infection
• By wound type, diabetic foot ulcers are estimated to form the fastest growing segment due to high prevalence of diabetes. About 15.0% of diabetic foot ulcers result in amputation. Therefore, need to heal the wound in its nascent stage is necessary
• Asia Pacific is anticipated to witness lucrative growth over the forecast period. Progressive economy, reforms to improve infrastructure, high unmet needs of a massive population, and availability of skilled labor is expected to drive the market in this region
• Major players in this market include Acelity L.P. Inc.; Smith & Nephew; B. Braun Melsungen AG; Coloplast A/S; ConvaTec Group; Paul Hartmann; Mölnlycke Health Care; Lohmann & Rauscher; Medline Industries; and Integra Lifesciences.

Dental Sterilization Market Worth USD 1.91 Billion by 2026

The global dental sterilization market size is estimated to reach USD 1.91 billion by 2026, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.3% during the forecast period. Increasing prevalence of dental conditions, growing number of dental care personnel, and rising number of dental facilities are anticipated to drive the market.

Rising number of dental surgical procedures and increasing efforts to infection control and prevention cross infection by instruments are stimulating the growth of the market. Market players are also continuously involved in introducing new products, which is expected to positively influence the growth of the market. For instance, introduction of AdvantaClear surface disinfectant by Hu-Friedy, which kills pathogens in one-minute.

Key players operating in the market are using different strategies such as new product development, acquisitions, partnerships, joint ventures, and agreements to strengthen their foothold in the market space.

Moreover, the dental sterilization market in developed economies, such as U.S., Germany, France, and Australia, is comparatively mature owing to domicile of several key market players belonging to these countries and high demand for such products among end users.

On the other hand, developing Asian and Latin American countries, currently, have a moderate adoption of these products. Economic growth and rising disposable income in these countries are likely to propel the market. Manufacturing companies are investing in these rapidly developing markets in order to tap into the potential, provided pricing and distribution activities are undertaken efficiently.

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https://www.grandviewresearch.com/industry-analysis/dental-sterilization-market

Further key findings from the report suggest:

• The consumables and accessories segment represented more than one fourth of the market revenue in 2017. These products are often disposed after single use, which makes their life cycle short and frequency of purchase high
• Asia Pacific is poised to be the most promising destination for global market players. Emerging countries such as India and China are offering numerous opportunities to market players due to increasing number of dental clinics and hospitals
• Some of the key companies present in the market are Hu-Friedy, Dentsply Sirona, Crosstex, Midmark, Matachana Group, W&H, Getinge, Nakanishi, Scican, and Tuttnauer.