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Foot Orthotic Insoles Market Companies Set for Rapid Growth

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Transparency Market Research (TMR) has published a new report titled, “Foot Orthotic Insoles Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global foot orthotic insoles market was valued at US$ 3,176.4 Mn in 2017 and is projected to expand at a CAGR of 6.3% from 2018 to 2026. Rise in percentage of population requiring foot orthotic insoles to reduce foot pain and surge in adoption of technologically advanced products are anticipated to drive the global market in the next few years.

North America and Europe are projected to dominate the global foot orthotic insoles market during the forecast period, primarily due to the presence of large population with diabetes, arthritis, and other painful foot conditions; rise in health and wellness awareness; high adoption of custom foot orthotic insoles, and surge in demand for preventive health care in these regions. The foot orthotic insoles market in Asia Pacific is expected to expand at a significant CAGR from 2018 to 2026. This is attributed to surge in investment in health care infrastructure, economy growth, large population base with chronic diseases and other foot pain conditions in emerging countries such as China, India, South Korea, and Malaysia; and rise in per capita health care expenditure in the region.

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Rise in Percentage of Population Requiring Orthotic Devices to Reduce Foot Pain Drives Market

With the progression of age, cartilages become prone to strain and fatigue due to less water content. This leads to arthritis and other complications, wherein connective tissues such as ligaments attached to the bones become less flexible and more constrained. These factors are expected to propel demand for foot orthotic insoles to ease out the pain. Lifestyle changes along with changes in eating habits lead to increase in obesity, which puts pressure on the joints in lower extremity and result in joint damage and other joint disorders.

Increase in percentage of geriatric and obese populations is likely to propel the adoption rate of foot orthotic insoles during the forecast period. According to the American Association of Orthopedic Surgeons, the obese population is 20 times more likely to undergo knee replacement surgery compared to those who are not overweight. Prevalence of osteoarthritis, rheumatoid arthritis, juvenile arthritis, and other disorders is increasing primarily due to the aging population, obesity, and changes in lifestyle.

Custom Foot Orthotic Insoles Segment to be Highly Attractive

The report offers a detailed segmentation of the global foot orthotic insoles market based on product type. The custom segment is poised to account for the leading share of the global market during the forecast period. Growth of the segment is attributed to significant funding from venture capitalists for these technologically advanced products and increase in usage of customer-specific products having unique geometrical shape by urban population. The prefabricated segment is projected to be driven by rise in number of incidence of fractures, accidents, bone degeneration diseases, spondylitis, scoliosis, and arthritis.

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Ethyl Vinyl Acetates Segment to Hold Leading Market Share

In terms of material, the global foot orthotic insoles market has been segmented into thermoplastics, polyethylene foams, leather, cork, composite carbon fibers, ethyl-vinyl acetates (EVAs), gel, and others. The ethyl vinyl acetates segment is likely to account for significant share of the market by the end of the forecast period. Use of an EVA footbed in insole manufacturing is becoming increasingly popular owing to its comfort and support properties. The polyethylene foams segment is projected to account for the second leading share of the global foot orthotic insoles market by 2026. Properties of polyethylene foam such as superior cushioning, shock absorption, and additional support are likely to propel the segment during the forecast period.

Large Population Base with Foot and Orthotic Disorders Fuels the Medical Segment

In terms of application, the global foot orthotic insoles market has been segmented into sports & athletics, medical, and personal comfort. The medical segment dominated the global foot orthotic insoles market in 2017 and the trend is likely to continue during the forecast period. Increase in incidence of medical disorders and surge in demand for improved quality of life among significant patient population are attributed to the continued dominance of the segment.

Adults Segment to Continue to Dominate during Forecast Period

In terms of age group, the global foot orthotic insoles market has been segmented into adults and pediatric. The adults segment dominated the global market in 2017. The segment is projected to expand at the highest CAGR during the forecast period. This is attributed to rise in prevalence of chronic diseases such as diabetes and arthritis among adults, increase in the use of high heeled sandals by adult women, surge in spending on personal comfort products, and rise in participation in sports.

Increase in Adoption of Digital Platforms to Purchase Foot Orthotic Insoles to Boost Online Stores Segment

In terms of end-user, the online stores segment is projected to expand at the highest CAGR of 6.7% during the forecast period. Online platform allows new entrants to equally market their products and enables patient/consumers to choose and compare from a range of options available. The segment is witnessing increase in consumer preference because of technological advances which allow users to scan their foot at home.

The hospitals & specialty clinics segment dominated the global foot orthotic insoles market in 2017 and is estimated to marginally gain market share by the end of 2026. Availability of technologically advanced products on this platform for the treatment of different kinds of diseases and sports and accidental injuries, and group purchasing policies of multispecialty hospitals that ensures return on investment for new market entrants make this segment lucrative during the forecast period.

High Incremental Opportunity in Asia Pacific

The foot orthotic insoles market in Asia Pacific is projected to expand at a significant CAGR of 7.6% during the forecast period. Increase in population, presence of emerging economies such as China and India, and large base of geriatric population in Japan present significant opportunities for global players in these countries. The foot orthotic insoles market in China is dominated by domestic players owing to high production of foot orthotic insoles in the country.

Rise in awareness about effectiveness of custom foot insoles in relieving foot pain over prefabricated ones, increase in disposable income of people, and surge in the number of orthotic and pedorthics clinics in Asia Pacific are likely to propel the market during the forecast period. North America is anticipated to dominate the global foot orthotic insoles market owing to high demand for expensive custom-made foot orthotic insoles, rise in the number of patients with diabetes, arthritis, metatarsalgia, and other painful conditions; high disposable income, and surge in adoption of personal comfort products in the region.

Highly Fragmented Market Presents Opportunity for Mergers and Acquisitions

The global foot orthotic insoles market is highly fragmented, with local domestic players accounting for significant market share in respective regions. This fragmented market scenario represents potential merger and acquisition opportunities for the global players operating in the segment. Additionally, a trend of developing orthotic foot insole with specific material for specific applications has been observed in the past few years.

Hence, merger and acquisition of companies having strong expertise in the development of application specific orthotic foot insoles is likely to result in stronger and broader product portfolio in the foot orthotic insoles market. The report profiles leading players operating in the global foot orthotic insoles market such as Bayer Group (Dr. Scholl’s), Powerstep (Stable Step, LLC), Superfeet Worldwide, Inc., Ottobock, A. Algeo Ltd., Hanger, Inc., Bauerfeind AG, Birkenstock digital GmbH, Ottobock SE & Co. KGaA, Foot Science International, Create O & P, Groupe Gorgé, and DOLA – Digital Orthotics Laboratories Australia.

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The global audiological devices market is highly consolidated, with the top six players accounting for nearly 97% of the overall market share in 2011, reports Transparency Market Research (TMR) in a new study. The key players in the audiological devices market are GN ReSound Group, William Demant Holding A/S, Sonova Holding AG, Starkey Hearing Technologies, Widex A/S, and Siemens Healthcare.

“The strong holdings of these key players overshadow the contribution by other companies and impose a high entry barrier to the new entrants,” says the author of the report. The contribution by local players and some global players such as Panasonic is very low. However, the competitive rivalry is high in the global audiological devices market with all its constituent companies vying to protect their standing.

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Growing Prevalence of Deafness to Present Appreciable Demand for Audiological Devices

According to the American Academy of Audiology (AAA), hearing loss is the third most reported chronic disability affecting the geriatric population. With the growth in the geriatric population worldwide, growth in the cases of sensorineural hearing damage has also been registered. This has helped the demand for audiological devices as a corrective measure, thereby promoting the growth of the global audiological devices market.

There are various factors such as injuries, and genetic factors, infectious diseases, noise pollution, occupational factors, and problems during childbirth, pregnancy, and polypharmacy that lead to hearing loss. The high prevalence of deafness is a major public health issue across the globe. To address this problem, various governments and international organizations are encouraging the use of audiological devices.

Another factor positively influencing the growth of the global audiological devices market is the introduction of cosmetically appealing hearing devices that are small in size and hidden. The growth of these types of devices can be attributed to the changing lifestyles and high purchasing power of the end-users. These factors have consequently boosted the growth of the global audiological devices market.

Social Stigma to Hamper Sales of Audiological Devices

The high cost of surgical solutions such as bone anchored hearing aids (BAHA) and cochlear implant surgery challenge the patients financially. This problem further amplifies for the uninsured patients, whose population is still low in emerging nations. The patients, thus prefer using conventional hearing aids, thereby hampering the growth rate of the audiological devices market.

The majority of the population suffering from hearing loss tends to be reluctant towards the use of hearing aids and other audiological devices due to the social stigma associated with them. This stigma is likely to negatively influence the growth of the global audiological devices market. However, increasing measures taken by governments, healthcare providers, and hearing aid manufacturers in order to increase the hearing aid awareness amongst the masses may change the mindset. These measures are likely to encourage the growth of the global audiological devices market.

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Wide Product Portfolio to Help Hearing Aids Lead the Global Market

The global audiological devices market was valued at US$6.22 bn in 2011 and is anticipated to reach US$8.648 bn by 2018 at a 4.90% CAGR between 2012 and 2018.

In terms of product type, the global audiological devices market is segmented into BAHA, cochlear implants, hearing aids, and diagnostic devices. The hearing aids segment is the leading segment by value and is anticipated to lead the market until the end of 2018. This can be attributed to a wide product portfolio offered by hearing aids. The global hearing aids market was valued at US$4.65 bn in 2015 and is estimated to reach US$5.12 bn by 2018. However, the greater efficiency of cochlear implants and bone anchored hearing aids will assist them in registering positive growth rate.

By geography, Europe is the leading geographical segment by revenue and is expected to maintain its leadership through 2018. A growing incidence of hearing impairment in the region has fuelled the demand for sophisticated and wireless audiological devices. However, Asia Pacific is the most rapidly growing market owing to the improvement in the distribution network of global market players.

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A copious number of players operate in the global diabetes drugs market on account of entry barriers being low. This makes the landscape both fragmented and competitive. A recent report on the market published by Transparency Market Research predicts the competition to intensify further in the near term owing to the entry of more players and emphasis on product development by the existing ones. Regional expansion strategies of players via mergers and acquisitions and strategic alliances is another method by which players are growing their shares.

Some of the current key companies operating in the global market for diabetes drugs are Boehringer Ingelheim GmbH, Novo Nordisk A/S, Bayer AG, Novartis AG, Sanofi, and Merck & Co.

As per the report, the market would likely register a CAGR of 3.6% over the course of the forecast period between 2017 and 2025 to attain a value of US$ 58.4 bn by 2025-end from US$ 43.1 bn in 2016.

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Sedentary Lifestyle, Resulting in Rising Diabetes Cases, Boosts Market

The global market of diabetic drugs is on the rise owing to the spike in the number of cases of diabetes – both type 1 and type 2. As per a recent report by WHO, around 422 million people worldwide suffer from diabetes. This number is four times that of the number of people afflicted with the disease in 1980. The report observes that even though the prevalence has increased worldwide, low- and middle-income countries are home to most of the diabetic population. While the causes of diabetes are complex and often difficult to find, obesity and lack of physical activities are known to definitely contribute to a degree.

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Diabetes of any kind can result in complications in many parts of the body and also up the risk of premature death. According to findings of WHO, in 2012 it claimed around 1.5 million lives all over the world. However, with regular physical activities and healthy diet, alongside proper medication such fallout can be prevented. Rising awareness about the same has served to boost the demand for diabetic drugs in the recent past.

Research and Development of More Effective Products Bodes Well for Growth

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Global sexual dysfunction drugs market: Overview

Owing to increasing number of case for sexual dysfuntion among the older men are likely to upsurge the demand for sexual dysfunction drugs market across the globe. The erection level in the men decrease as the pensile muscles becomes weak in this case, this is another factor augmenting the growth of the global sexual dysfunction drugs market across the globe.

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The study also offers comprehensive analysis of the global car purifier market in terms of market growth, key trends, restraints and opportunity prevailing in this market.

Global sexual dysfunction Drugs market: Trends and Opportunities

Increasing demand for the sexual dysfunction drugs anticipated to influence the growth of this market in coming years. the erectile dysfunction also include impotency and prolonged disease like diabetes, cardiovascular disease, side effects of the drug and hormonal imbalance, neurological disorder are few factor also leads to erectile dysfunction which further contributing to increase the demand for the sexual dysfunction drug across the globe. Furthermore, sexual dysfunction also occur due to increasing smoking habit, psychological problems, lack of blood supply in pensile, and excessive intake of the alcohol.

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Rise in ageing population is another factor triggering the demand of the sexual dysfunction drugs market in coming years. The changing lifestyle among the young generation are one of the important factor augmenting to the growth opportunity of the global sexual dysfunction drug market. Rising awareness about the popular brand for treatment of the sexual dysfunction is likely to boost market growth.

Global sexual dysfunction Drugs market: Geographical Analysis

Geographically, the global market for sexual dysfunction drugs is bifurcated into five region which includes, Europe, the miidle East and Africa, Latin America, and North America. Among all these region, North America expected to dominate the global market for sexual dysfuntion drugs market owing to increase rate of sexual dysfuntion among the people, growing healthcare infrastructure and enhanced reimbursement policy, are some of the factor attributing growth in this region. Following which Asia Pacific, and Europe is also likely to dominate the global market for sexual dysfuntion drugs. The market in Europe likely to witness promising growth owing to brand loyalty and presence of key players in this region and high investment by the pharmaceuticals company for the research and development activities in this region.

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The global medical waste management market is strong in terms of competition and has intense vendor landscape, said by Transparency Market Research. This is chiefly on the accounts of the occurrence of new companies that are actively functioning in the medical waste management markets. For instance, on February 2018, the  Environment and Climate Change Canada decided to introduce its novel notice processing system, WIETS equivalent system on June 2018. Also, there are some other matured players in the medical waste management markets like  BWS Incorporated, BioMedical Waste Solutions, Daniels Health, LLC., and US Ecology, Inc.

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The quickly growing number of the old-age population across the globe primarily drives the global medical waste management market. Furthermore, the growing steps of government institution are the prime aspects for fuelling growth of the global medical waste management market. Keeping aside this factor, development in technological research is among the various aspect that is directly responsible for driving the global medical waste management market.

Growing concerns over using environment friendly and safe waste treatment and management process is expected to boost the medical waste management market in the forthcoming years. Moreover, the rising healthcare sector would produce more medical waste thus, producing prospects for the global market. Furthermore, in-progress R&D in the healthcare sector combined with developing market of Asia Pacific that is projected to open growth prospects for the medical waste management market in the upcoming years.

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High Capital Investments Involved For the Equipment to Deter Growth of the Market

The global medical waste management market is rising at a remarkable rate from the past recent years. Although there are, definite factors are expected to hamper growth of the global medical waste management market. Amid of all the necessity of high investments of capital, on the accounts of requirement for new technology machinery and high-value equipment are the prime factors hindering the global medical waste management market. Furthermore, the rising population globally results in a surge in the digit of patients, in turn, giving growth to the quantity of medical waste. Hence, with the growing quantity of medical waste governments globally are taking steps for the medical waste management.

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Due to the increasing demand for mobility in healthcare system vendors are focusing towards the launch of higher level of integrated nurse call systems, finds Transparency Market Research. Some of the prominent players operating in the global nurse call system market are Azure Healthcare Ltd., TekTone Sound & Signal Mfg., Inc., Hill-Rom Holdings, Inc., Ascom Holding AG, Rauland-Borg Corporation, Tyco SimplexGrinnell, STANLEY Healthcare and Vigil Health Solutions, Inc.

The competitive landscape of the nurse call systems market is highly fragmented with the presence of various small and mid-sized players in the market. A few of the industry players are ramping their investments to offer advanced equipment, in which patient data can be easily stored and retrieved.

This can be attributed by the fact that in February 2015, Rauland Borg Corporation, a leading market player launched a device called AllTouch responder, with electronic medical records system that can store patient’s data.

According to a report by TMR, the nurse call systems market is anticipated to grow at an astonishing 10.9% CAGR from 2017 to 2025. Rising at this CAGR, the market is expected to touch a valuation of US$2,665.98 mn by the end of forecast period.

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Geographically, North America dominated the nurse call system market in 2016. The same region is expected to lead the global market in forecast period as well. This is mainly because of the presence of the well-established healthcare system and the high adoption of digital healthcare in the region, such as Medicare. Based on communication technology, the wireless nurse call systems segment is gaining popularity owing to the ease and comfort in operating. Due to this, the segment is expected to have a largest market share in the forecast period because of the rising awareness regarding wireless nurse call systems.

Increasing Investment in Healthcare Industry to augment growth 

The nurse call system market is expected to witness a substantial growth in the coming years. This is mainly because of the factors such as increasing need for digital healthcare, a rise in the number of hospitals adopting nurse call system, growing investments from the public and private sectors in digital healthcare systems, and technological advancement in nurse call systems.

Nurse call system are set of devices used in the health care industry which help patients call hospital staff at the time of emergency. This helping hospital units to offer better services to patients.

A part from this, noticeable trend in the nurse call system market is increasing shift from analog stand-alone to digital and networked IP-based solutions. As these systems offer more intuitive and easy-to-use options to handle patient requests and emergency situations. The increasing demand for digital and network ip based solutions is another factor expected to fuel the global nurse call systems market in the coming years.

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Incompetency of Healthcare Staff to Use Technology Based System to Impede Growth

Despite several drivers, growth in the global nurse call systems market is likely to hamper due to the factors like high implementation costs and incompetency of healthcare staff to operate advanced technology.

Nevertheless, factors like growth in health care expenses and increasing popularity of medical insurance mainly in the developing economies such as India and China is expected to boost the nurse call systems market in the coming years.

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