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Generic Injectables Market - Major Factors Driving the Industry

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Several top players in the generic injectables market are focusing on mergers and acquisitions to consolidate their shares. They are also making substantial investment in research and development activities with an aim to develop new products, in order to gain an edge over their competitors, notes Transparency Market Research (TMR). Some of the companies holding leading positions in the market are Biocon Limited, Sanofi, Lupin Ltd., Hikma Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Mylan N.V., Fresenius SE & Co. KGaA, Baxter, Novartis AG (Sandoz International GmbH), and Pfizer Inc.A growing number of producers of generic injectables are focusing on products that meet the highest standard of efficacy and safety as that of the originator products.

The global generic injectables market is projected to expand rapidly from its worth of US$ 49.0 billion in 2016 to reach a worth of over US$ 150 billion by 2025. This represents a robust CAGR of nearly 13.6% during the forecast period of 2017–2025.

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The various product types can be grouped into ampoules, vials, premixes, and prefilled syringes. Of all the segments, the market for prefilled syringes is expected to rise at the most attractive CAGR during the assessment period. The higher precision of dose, ease of self-administration, and reduced wastage of products are some of the compelling benefits accounting for their widespread acceptance.

Regionally, Asia Pacific led the global market in 2016 with substantial uptake of generic injectables among patient populations. The regional market is anticipated to rise at a rapid pace, attributed to the widespread demand for affordable therapeutics and sustained governmental thrust in key economies.

Demand for Affordable Quality Therapeutics propels Demand for Generic Injectable

The continued drive for generic injectable gains strength from the pressing need for quality therapeutics at affordable prices among patient populations world over, amid the soaring healthcare cost. The loss of patents for various blockbuster biological molecules in the years to come, coupled with the broadening acceptance of biologics, is a notable aspect propelling the demand for generic injectables. Spiraling spending on research and development of biologics is providing a large impetus to the growth of the market.

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Broadening Acceptance of Prefilled Syringes as Advanced Drug Delivery System adds Sizeable Market Revenue

Efforts to bring constant innovation in drug delivery mechanism for injectables are catalyzing the demand for generic injectables. In this regard, the widespread acceptance of prefilled syringes among healthcare workers and patient populations at large is providing a robust impetus to the market’s growth. The number of attractive benefits drug delivery method has with the use of prefilled syringes has bolstered their uptake in parenteral drug delivery across the globe.

Furthermore, constant technological advances in drug delivery systems, especially in developed countries, is notably accentuating the growth of the market. Recent advances in the delivery mechanism of complex therapeutic molecules has imparted a noticeable momentum to the market’s growth.

Strict Regulatory Frameworks Hindering New Entrants, Oncology Biosimilars to open Promising Avenue

However, the market also suffers from certain setbacks. The high cost of investment required for setting manufacturing plants has constrained the entry of new players. Furthermore, a stringent regulatory framework with respect to large molecule generic injectables in developed countries, such as the U.S., is also hindering the market’s growth.

Nevertheless, the rapidly rising demand for lower-cost generic versions of vital medications among clinicians and patients will continue adding to the global revenues. A number of manufacturers or producers are putting their focus toward the area of oncology therapeutics. To this end, prominent players are making sizeable investment in R&D in oncology biosimilars to be delivered in injectable form. This will provide sustained fillip to the growth of the market over the forecast period.

posted Feb 12 by Rohini Chaudhari

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Surgical Robots Market: Introduction

Transparency Market Research has published a new report titled, “Surgical Robots Market”. According to the report, the global surgical robots market was valued at ~US$ 4.2 Bn in 2018 and is projected to expand at a CAGR of ~13% from 2019 to 2027.

Surgical Robots Market: Key Segments

In terms of method, the minimally invasive segment is anticipated to account for over 60% share of the market. Technological advancements allow surgeons to perform less invasive surgical procedures and increase in purchasing power of hospitals and other healthcare settings are expected to propel the minimally invasive segment during the forecast period. Demand for robots for minimally invasive surgical procedures is likely to increase during the forecast period. Efficiency of such robots is speeding up the recovery time, shorter hospital stays, increasing the accuracy & safety of surgical procedures, and less intra-operative radiation exposure to patients & healthcare providers.

Easy performance mapping and therapy customization are the major factors projected to drive demand for such robots across the globe. Research & development in the technology, design, efficiency, and safety of spine surgical robots is anticipated to present significant opportunities in the segment in the near future.

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Based on application, the gynecological and urological surgery segments accounted for major shares of the surgical robots market in terms of revenue in 2018. The segment is expected to expand at a moderate CAGR during the forecast period. Robotic surgery has developed rapidly, and its use in gynecological conditions as well. Robot-assisted surgery was approved by the U.S. Food and Drug Administration in 1999 for urologic and cardiac procedures and in 2005 for gynecological surgery. In 2018, robot technology was applied widely in gynecological surgeries such as for hysterectomy, sacrocolpopexy, myomectomy, adnexal surgery, and malignancy staging.

In terms of end user, the hospitals segment is likely to grow at a rapid pace during the forecast period, due to benefits associated with the use of surgical robots coupled with the resources and capabilities to deploy these platforms. Moreover, rise in investments in the hospital sector, particularly in developing countries, is projected to increase the number of hospitals in countries such as China, India, and Brazil, thereby boosting the need to procure surgical robotic systems.

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Surgical Robots Market: Prominent Regions

North America held the largest share of the global surgical robots market in 2018. The market in the region is driven by the presence of key players, large number of research activities, and highly structured health care industry. In terms of revenue, the U.S. is likely to dominate the surgical robots market in North America during the forecast period, owing to early adoption of technologies such as the da Vinci Surgical System, NAVIO Surgical System, Mazor X, and increase in the geriatric population. The country is projected to be the most attractive market for surgical robots, with high attractiveness index. The market in the U.S is anticipated to expand at a CAGR of ~12% during the forecast period. Increase in adoption of surgical robots by hospitals, technological advancements, rise in research & development of surgical robots for new applications, and surge in demand for rapid and safe minimally invasive surgery procedures are driving the surgical robots market in the U.S.

Asia Pacific accounted for a significant share of the surgical robots market in 2018. The market in the region is expected to grow at a rapid pace during the forecast period. Increase in investment by key players in Asia Pacific and rise in surgical procedures are likely to propel the surgical robots market in Asia Pacific. Emerging economy, government funding for research, improving healthcare infrastructure, and rise in presence of major global players in countries, such as China and India, are projected to augment the surgical robots market in the region during the forecast period.

Surgical Robots Market: Key Players

Key players are expanding their footprint to strengthen their positions in the surgical robots market. These players are collaborating with other companies to secure and strengthen their positions in the market. Additionally, regulatory approvals is expected to be a key trend going forward, leading to an increase in competition in the market. For instance, in January 2018, Medrobotics Corp. received the FDA regulatory clearance to market its Flex Robotic System for robot-assisted visualization in general surgery, gynecological, and thoracic procedures in the U.S.

Leading players in the surgical robots market include Intuitive Surgical, Inc., Smith & Nephew plc, Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., TransEnterix Surgical, Inc., Verb Surgical, Inc. (joint venture between Johnson & Johnson and Google, Inc.), Medicaroid, Inc., TINAVI Medical, and Medrobotics Corp.

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Transparency Market Research (TMR) has published a new report titled, “Hospital Asset Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global hospital asset management market was valued at US$ 5.0 Bn in 2017 and is projected to expand at a CAGR of 12.0% from 2018 to 2026. Improvement and optimization of workflow, safety, and productivity; reduction in inventory, and higher return on investment are anticipated to boost the growth of the global hospital asset management market during the forecast period.

Developed regions having better health care IT infrastructure are likely to account for major market share in terms of revenue in the next few years. Major market players are involved in continuous technological advancements through focused research and development activities, which is resulting in development of cost-effective solutions. Some of the prominent players are likely to expand their geographical presence through partnership agreements in the high growth potential developing markets during the forecast period.

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Real-time Location Systems Segment to Account for Over Half the Market Share

The report offers detailed segmentation of the global hospital asset management market based on product and application. In terms of product, the real-time location systems (RTLS) segment is poised to account for major share of the global market in terms of revenue between 2018 and 2026. Factors attributed to high market share of the segment include strong brand presence of key players offering proprietary product technologies and technical advantages such as the ability of outdoor asset tracking, information encryption service, and tamper evident sensor, among others.

Instrument Management Segment to Register Above Average Growth Rate

In terms of application, the global hospital asset management market has been categorized into patient management, staff management, instrument management, and supply chain management. The instrument management segment is anticipated to expand at a moderate growth rate during the forecast period. Intense competition between established companies as well as new entrants is likely to result in affordable asset tags during the forecast period. This in turn is expected to increase installation rate of hospital asset management solutions for instrument management.

Developing Countries Witnessing Government Support for Digitalization in Public Hospitals

Increased government focus on reducing workload of nurses and doctors and rise in focus of hospital administration to ensure patient as well as staff safety fuel the growth of the hospital asset management market in developing regions. In July 2016, the King Hamad University Hospital in Bahrain installed nearly 1,200 asset tags to locate wheelchairs, ultrasound equipment, and IV pumps to improve operational efficiency and response time. Increase in installation of hospital asset management solutions for instrument management is spurring the growth of the global hospital asset management market.

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Fragmented Market, with Tier I Players Accounting for Nearly 25.0% Market Share

The report also provides profiles of prominent players operating in the global hospital asset management market. These include Ascom, Awarepoint Corporation, CenTrak, Ekahau, GE Healthcare, Honeywell International, Inc., Impinj, Inc., Sonitor Technologies, STANLEY Healthcare, and ZIH Corp. The global hospital asset management market is significantly fragmented and tier I companies accounted for nearly 25.0% market share in 2017. Strategic partnerships for research and product development has been a characteristic trend among the major players in the global hospital asset management market.

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The global endoscopy equipment market is estimated to witness notable growth in the coming years as Transparency Market Research reports. This is due to the increasing number of gastrointestinal diseases as well as cancer. The competitive landscape of the global endoscopy equipment market is seen to be fragmented due to the presence of a large number of players. Major players are putting more focus on the development of new products and their product launching in order to stay in the market and maintain a dominant place.

Some of the prominent players of the global endoscopy equipment market are Fujifilm Holdings Corporation, Stryker Corporation, Karl Storz GmbH & Co., Smith & Nephew Plc, Karl Storz GmbH & Co., Boston Scientific Corporation, and Arthrex Inc. Major vendors are making efforts to develop new products and accelerate the overall growth of the market during the forecast period. Players are also investing more funds into research and development in order to produce better and unique results so as to improve their brand quality and give tough competition to the others.

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As per the TMR reports, the global endoscopy equipment market is prognosticated to reach a valuation of US$33.5 bn by 2022. The market is presumed to exhibit a promising CAGR of 4.0% within the forecast period of 2017 to 2022. As per the classification by application, the endoscopy equipment market is seen to be dominated by the gastroenterology segment owing to the increase in popularity of gastric problems all around the globe.

As per the geographical segmentation, the market is projected to be dominated by North America with an expected rise of revenue from US$9.9 bn in 2017 to US$12.3 bn by the end of 2022.

Increasing Number of Gastroenterological Diseases to Boost Market Growth

The surge in the use of endoscopic equipment for diagnosis of all kinds of gastroenterological disorders is also expected to boost the market at a global level. Another factor expected to boost the global market for endoscopy equipment is the rising investments in healthcare and medical sector for their enhancement is among the key driver to boost the overall market growth. Both the government and non-government agencies are putting efforts to set up better healthcare infrastructures in order to suffice to the medical needs of people.

Developing countries like that of New Zealand, Australia, India, China, and Japan are also presumed to increase the revenue generation of the endoscopy equipment market during the forecast period by creating better infrastructure and medical facilities in terms of treatment. The emergence and popularity of ultra-modern healthcare facilities are also creating lucrative opportunities for the overall market for endoscopy equipment.

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High Cost of Treatment of Endoscopy to Cause Hindrance to Market Growth

One factor that may act as a hindrance to the overall growth of the market is the high treatment cost of gastroenterology and their medication as well. The high cost of treatment may make customers to think twice before opting for such treatment. Apart from that, the emerging market for ayurvedic medicines and their guaranteed no side-effect propaganda may divert patients from opting for endoscopic treatment and instead acquire natural remedies in order to cure themselves. Due to this shift, the market for endoscopy equipment may also face loss in the years to come.

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With forecasts about competition getting fiercer, companies operating in the global oncology information system market are investing in the development of technologically advanced information systems. Besides this, strategic collaborations and partnerships are on a rise, as leading players look to establish a strong foothold in the global oncology information system market. In a new study, Transparency Market Research (TMR) presents insights into various companies operating in the market and their key growth strategies. Profiles of companies such as Cerner Corporation, Accuray Inc., Mckesson Corporation, Koninklijke Philips N.V., Raysearch Laboratories, Varian Medical Systems Inc Flatiron Health Inc., Epic Systems Corporation, and Elekta AB therefore make a crucial inclusion in the report.

Thorough research was undertaken, based on which TMR has pegged the global oncology information system market at US$2,285.6 mn in 2017. Rising at a steady 7.6% CAGR between 2017 and 2022, the global market is expected to reach US$3,293.8 by the end of 2022. “North America is expected to remain the dominant contributor to the global market for oncology information through the forecast period. By the end of 2022, its valuation is expected to reach US$1,411.5 mn,” said a lead TMR analyst.

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Besides this Europe and Asia Pacific except Japan are expected to showcase lucrative prospects for the market’s growth. However, due to lack of skilled workers could restraint the latter’s growth in the coming years. Nonetheless, the rising incidence of cancer and willingness of emerging economies such India and China to spend on advanced healthcare systems will stoke growth for the market in Asia Pacific. The market will also benefit from government support in this region.

Rising Incidence of Cancer Stokes Growth Opportunities around the World

The rising incidence of cancer is a chief factor driving the global oncology information system market. In developed countries particularly, the market has gained from the steady growth in the field of cancer research. Launch of novel techniques to battle the life-threatening ailment also accelerates the market’s pace of gains. As per TMR, the oncology information system market is likely to exhibit strong growth especially in countries such as Germany, Canada, the U.K., and the U.S. on the back of escalating investments in cancer research. Besides incidence, the rate of recurrence of cancer is also high in these countries, which subsequently fuels the demand for oncology information system.

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Government Aid Crucial for Widespread Adoption of Oncology Information System

Government support to researches involved in the discovery of novel cancer treatments has created an environment conducive to the market’s growth in developed regions. It is important to note here that government support is important to encourage the widespread adoption of oncology information system. It eases the financial load on hospitals interested in incorporating latest technologies. Furthermore, government aid helps smaller hospitals to improve their overall quality of patient care.  Sedentary lifestyle and the growing adoption of unhealthy lifestyle choices are other factors aiding the market’s expansion. The report also considers these as key drivers of the global oncology information system market.

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According to a recent report by Transparency Market Research, the global digital pathology market is likely to project a significant expansion with a robust CAGR of 12% within the forecast period from 2018 to 2026. The market in 2017 was valued around worth of US$ 340 Mn and is anticipated to reach over value of around US$ 900 Mn by the end of forecast period.

On the basis of application, the global digital pathology market is classified as consulting services, educational, diagnosis, and so on. Among these, in 2017, the diagnosis segment held the maximum share in the global market, as far as revenue is considered. Rise in prevalence of contagious ailments is one of the key factors supporting the demand in digital pathology market all over the world in coming years. Geographically, North America region led the market, trailed by Europe in 2017, based on revenue. In the forecast period, the region is likely to mark the CAGR of over 12%, owing to increased popularity of the digital pathology technology along with lack of skilled pathologists.

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Increased Cases of Cancer to Fuel Demand Globally

Rise in number of cases of tumor and need for more precise pathological diagnosis, along with emergence of digitalization are the major factors propelling the growth in global digital pathology market across the globe. Shortage of skilled pathologists in the nations for example, the U.S. which leads to increased workload is another major factor fueling the demand in digital pathology market in coming years. Moreover, upgradation in diagnostic tests, increased number of preclinical and clinical trials, surged adoption of automation, and growth in medical infrastructure are important reasons behind the market growth. Nevertheless, high initial set up prices, sampling mistakes, and strict regulations are a few of the factors hampering the global growth of digital pathology market.

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Rising Geriatric Population to Support Market growth of Digital Pathology

Rise in deployment of digital frameworks is anticipated to drive the global market in the forthcoming years. A couple of regions are foreseen to overwhelm the global digital pathology market in the following couple of years inferable from the increase in pervasiveness of tumor growth, advancement in innovation, and increase in old age population in the region. This is credited to the rise in occurrence of tumor, and increasing awareness in medical IT and its application in developed nations, for example, Australia and Japan. Developed nations such the U.K. and Germany display higher popularity about digital pathology and their applications. This is likely to help the market in the regions. The nations, for example, Japan, China, and India have an enormous potential for the development of market because of enhancing medicinal services foundation in the Asia Pacific.

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The global digital pathology market are anticipated to witness a notable growth in the future years. The major players that are leading the in the global market are taking up various strategies for example, advancement in technology, mergers and acquisitions, collaborations, and tie-ups, so as to acquire the leading position in the market.  The key players leading in the global digital pathology market are OLYMPUS CORPORATION, Leica Biosystems Imaging, Inc, F. Hoffmann-La Roche Ltd, Mikroscan Technologies, Inc., GE Healthcare, Koninklijke Philips N.V., Inspirata, and Sectra AB.

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The review is based on the findings of a report by Transparency Market Research, titled “Digital Pathology Market (Product Type - Image Analysis Software and Scanners; End use - Diagnostic Laboratories, Academic and Research Centers, Pharmaceutical Companies; Applications - Diagnosis, Consulting Services, Educational) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”

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