Impact of COVID-19 on several industries in context with the medical personal protective industry

Coronavirus (COVID-19) was recognized in late December in Hubei province of Wuhan city in China. This highly contagious disease, caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from humans to humans. After the first case in Wuhan, the disease rapidly spread to other parts of the globe. On March 11, 2020, the World Health Organization (WHO) made an assessment that COVID-19 can be characterized as a pandemic. Thus, social-distancing became an important measure to stop the spread of this disease. Various countries across the world adopted nationwide lockdowns. This led to a completely new scenario for the world, where every business in each industry faced new challenges and witnessed new opportunities. Similarly, the medical personal protective industry, a vital part of the healthcare sector, also witnessed new growth opportunities.

At present, the medical personal protective industry is witnessing a tremendous growth as medical personal protective products are playing a crucial role to combat the pandemic and monitor the patients. The medical personal protective products such as gowns, gloves, sets, coveralls, masks, caps, shoe covers, and others are facing a huge demand, owing to their immense usage in hospitals, clinics, and other healthcare service centers. The medical personal protective industry manufacturers are expanding their production capacity to manufacture products in response to the COVID-19 pandemic. Rise in the number of COVID-19 cases worldwide and the surge in need for healthcare workers are the factors expected to drive the demand for medical personal protective products. In addition, due to the quick spread of the virus, healthcare professionals associated with collection of specimens require proper protection including coveralls, masks, caps, and others to prevent themselves from getting infected. Moreover, medical nonwoven products form a crucial part of the personal protective equipment (PPE) worn by healthcare professionals. Therefore, growth in prevalence of contagious diseases and COVID-19 is anticipated to fuel the growth of the medical personal protective industry.

However, the outbreak led to a sudden change in scenario, sending mixed waves to the business flow. Some parts of the industry were hit in a negative manner whereas others experienced growth, owing to unexpected rise in demand for products and shortage of medical personal protective products in some countries.

The medical personal protective products are used to protect the wearer and/or the patient from the spread of illness or infection during medical procedures and examinations. The medical personal protective products typically include gowns, gloves, sets, coveralls, masks, goggles, head caps, and shoe covers. Gloves are a type of personal protective equipment (PPE) designed to protect staff from microbial contamination, or from contact with certain chemicals, and cross-transmission from healthcare associated infections. Gowns are safe, comfortable, and flexible, and are used by physicians and other medical personnel to protect them from infectious fluids, bacteria, and viruses. Coverall is a one of the solutions of protective apparel that covers all the wearer to prevent the cross-contamination during work activities. These medical protective clothing are aimed to cover the entire body, including head, lower legs, back, and in some cases, feet. Masks are used to ensure an efficient filtration of the breath and are widely used in prevention of airborne diseases during an epidemic or pandemic. The caps are chiefly used by the surgical staff to prevent the hair strands or dandruff particles from contaminating a sterile area. Shoe covers are used by patients and physicians to prevent the transmission of infections into the operation theatre through the footwear.

The COVID-19 outbreak impacted the medical personal protective segment in a positive manner. The COVID-19 virus is mostly transmitted through the respiratory routes and supposedly by transfusions. Social-distancing is observed as an effective measure to stop the spread of COVID-19 disease and has triggered the demand for gloves, surgical masks, and N95 respirators, since masks are considered to be the first line of defense against the viral infection. Moreover, WHO, in March 2020, advised and recommended wearing a mask in public spaces as a measure to curb the spread of coronavirus. Recently, government of India (GOI) made the masks mandatory for employees and laborers working across all industry verticals such as manufacturing, aerospace, and healthcare sectors, to combat the COVID-19 outbreak. In addition, in May 2020, Centers for Disease Control and Prevention (CDC) recommended that the use of the gloves should be during food handling, cleaning, gardening, trades, or caring for someone who is sick, and while in contact with blood, stool, or body fluids, such as saliva, mucus, vomit, and urine. If gloves are not used appropriately, they can pose a risk of spreading germs, putting workers and others at risks.

The manufacture of medical gloves for health workers is one industry that has experienced significant growth, with over 300 billion rubber gloves now being used each year. The Malaysian firm Meditech Gloves is expected to begin production of natural gloves that can biodegrade 100 times faster than synthetic, petroleum-based options. Key players of gloves such as Supermax Corporation Berhad and Top Glove Corporation Bhd., and others are focusing toward increase in production of gloves to sustain the pandemic. While the COVID-19 pandemic rages across the world, the demand for medical gloves has increased globally.

However, trade and transport restrictions, quarantine measures, cross-border movement controls, and disruptions in production have reduced the supply of medical personal protective products across the world. One of the major mask manufacturers and suppliers is China, which was under lockdown for months. This has adversely affected the surgical product supply chain activities across the globe. Subsequently, several domestic manufacturers have stepped in for manufacturing medical personal protective products in several countries. The companies are facing substantial challenges to ramp up the production capacities to help mitigate the medical personal protective products supply shortage. These challenges are expected to pose a threat to the growth of the medical personal protective industry in the coming years. However, the market players are strategically planning to strengthen the production capacities of products by collaborating with other companies to overcome the shortage.

 

Table 01.       GLOBAL GLOVES MARKET, 2017–2025 ($Million)

	2017	2018	2019	2020	2021	2022	2023	2024	2025
Global Market	11,460.63	12,471.83	13,422.02	17,882.10	23,693.78	27,603.26	30,170.36	32,553.82	35,027.91

Source: Primary & Secondary Research and AMR Analysis

Table 02.        Europe nonwoven products market, 2017–2025 ($THOUSAND)

	2017	2018	2019	2020	2021	2022	2023	2024	2025
Global Market	1,528,922.4	1,631,912.6	1,723,636.5	5,868,821.7	2,617,494.5	2,485,578.5	2,615,077.1	2,793,686.9	3,014,667.5

Source: Primary & Secondary Research and AMR Analysis

 

Expectations from the medical personal protective industry

The coronavirus (COVID-19) pandemic is a constantly-evolving condition that is affecting all communities across the globe. The medical personal protective industry should monitor all developments and adhere to recommendations from the Center of Disease Control (CDC) and World Health Organization (WHO), and local & state health agencies. The medical personal protective manufacturer should implement all recommended safety precautions and take additional steps to avoid spread of COVID-19 within their production area. The manufacturer should follow recommended guidelines for risk reduction such as social distancing, frequent disinfection to high touch items, availability of hand sanitizers in all common areas, and provision of training and updates to all employees on safety precautions. Moreover, the quality of the product should not be affected, as demand for medical personal protective is more.  

Major medical personal protective key players are 3M Company, Asahi Kasei Corporation, B. Braun Melsungen AG, Cardinal Health, Freudenberg & Co. KG, Hartmann Group, Investor AB (Mölnlycke Health Care AB), Kimberly-Clark Corporation, Hartalega Holdings Berhad, Honeywell International Inc., Medline Industries, Inc., and Zarys International Group. The expectation from the medical personal protective industry is to support governments to fight against the COVID-19. For instance, in November 2020, four major glove companies namely Top Glove Corp Bhd., Hartalega Holdings Bhd., Supermax Corporation Bhd., and Kossan Rubber Industries Bhd., contributed $98.70 million to help the government in its fight against COVID-19. Furthermore, in March 2020, Supermax Corporation Berhad has donates 1 million nitrile powder-free medical gloves to COVID-19 frontlines. They are to be distributed to Malaysian government hospitals, police stations, and the healthcare industry’s first responders, to combat the COVID-19 outbreak in Malaysia.

Post COVID-19 Scenario

As nations are emerging out of strict lockdowns, economy is expected to take time to stabilize gradually. Players operating in the medical personal protective industry are anticipated to face new challenges related to different aspects. For instance, products shortage would lead to a negative impact on supply to various countries. However, the scenario is expected to change upon increasing the production of medical personal protective products. Similarly, decision making management of medical personal protective companies is anticipated to face challenges such as improvement of liquidity, management of working capital, better management of expenditures, and redefined contracts with suppliers. Pending surgical procedures are expected to be completed post COVID-19 pandemic. Such number of pending or suspended surgeries is expected to result into an exponential growth of the medical personal protective industry along with recovery from COVID pandemic.

 

Recent news in the medical personal protective industry during the pandemic

The medical personal protective key players around the globe are entering into collaboration and partnership.

In September 2020, SHOWA, a U.S. manufacturer of single-use PPE gloves, and Choctaw Kaul Distribution Company announced a strategic partnership to meet the rise in U.S. demand for Personal Protective Equipment (PPE) gloves that are critical to protecting the U.S. frontline workers and citizens during the COVID-19 pandemic.

In August 2020, Ansell Healthcare Products LLC, a global leader in hand protection solutions has signed a distribution partnership with OneMed; a provider of medical supplies and support systems which has an existing distribution network in the Nordics.

In May 2020, Dow collaborated with nine key partners across myriad of industries to develop & donate 100,000 isolation gowns to support frontline workers in Texas, Louisiana and Mexico.

In April 2020, NatureWorks and the Nonwovens Institute (NWI) announced a strategic partnership to produce at least 10 million N95 surgical masks.

Antibiotics Market to Reach $50.37 Billion by 2025 at 2.1% CAGR

 The report provides detailed analyses of the top winning strategies, driving forces & opportunities, key market segments, competitive landscape, and strategic developments. As per the report, the global Antibiotics Market  generated $42.33 billion in 2017 and is expected to reach $50.37 billion by 2025, registering a CAGR of 2.1% from 2018 to 2025.

Increasing utilization of antibiotics in low and middle-income countries (LMICs) due to high incidence of severe infections, high capital allocation for R&D activities by biotech companies, and supportive norms and regulations drive the growth of the market. However, development of antibiotic resistance and rise in drug approval costs hinder the market growth. Conversely, discovery of advanced prospect molecules and innovative combination therapies for the treatment of antibiotic-resistant microbial infections would create opportunities for the market in future.

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Beta lactam and beta lactamase inhibitors segment to maintain its dominance by 2025 

The beta lactam and beta lactamase inhibitors segment contributed nearly two-thirds of the total market share in 2017 and is expected to maintain its dominance by 2025. This is due to rise in demand for its effectiveness in treating Gram-positive & Gram-negative bacteria as well as use in the treatment of broad-spectrum of infections. However, quinolones segment would register the fastest CAGR of 4.3% from 2018 to 2025, owing to their characteristics such as remarkable oral bioavailability, good tissue penetration, and high broad-spectrum bactericidal activity, especially in new generation quinolones. The report also analyzes macrolides and others.

Semisynthetic segment to lead throughout the forecast period 

The semisynthetic segment accounted for more than one-third of the total market share in 2017 and will continue to maintain its lead by 2025. This is due to the enhanced coverage and efficacy against a wide range of organisms as well as ease in administration and cost effectiveness as compared to other antibiotics. However, the synthetic segment would register the fastest CAGR of 2.7% from 2018 to 2025 due to high demand for synthetic membrane-targeted antibiotics, broad spectrum activity, rapid bactericidal activity, no cross-resistance with existing antibiotics, and low probability of developing resistance. The report also discusses antibiotics of natural origin.

Broad-spectrum antibiotics segment to be lucrative by 2025 

Broad-spectrum antibiotics segment contributed more than two-thirds of the total market share in 2017. This segment would dominate by 2025, registering the fastest CAGR of 2.4% from 2018 to 2025. This is attributed to the growing demand for broad-spectrum antibiotics to curb widespread antimicrobial resistance. The research also discusses narrow-spectrum antibiotics.

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Intravenous segment to dominate in terms of revenue during the forecast period  

Intravenous route of administration segment accounted for nearly half of the total market share in 2017, owing to the rise in incidence of severe infections, which requires intravenous antibiotics for reaching the tissues faster and achieving higher concentrations as compared to oral antibiotics. This segment would maintain its lead position by 2025. However, the oral segment would grow at the highest CAGR of 2.5% from 2018 to 2025, owing to ease in self-administration, which results in high demand for oral drugs and reduction in hospital stay.

Asia-Pacific to register the highest revenue by 2025 

Asia-Pacific region contributed more than one-third of the total market share in 2017, owing to the burgeoning rate of antibiotics consumption, ease in availability of antibiotics, and increase in sales of antibiotics without prescription. This region would continue to dominate throughout the forecast period. However, LAMEA region would grow at the fastest CAGR of 3.5% from 2018 to 2025. This is due to easy of availability and relaxed legislations or restrictions on their usage in this region.

Leading market players 

The key market players analyzed in the report include Abbott Laboratories, F.Hoffmann-La Roche Ltd., Allergan Plc., Merck & Co. Inc., GlaxoSmithKline plc, Novartis International AG (Sandoz), Mylan N.V., Sanofi, Pfizer Inc., and Teva Pharmaceutical Industries Ltd. They have implemented various strategies such as expansions, mergers & acquisitions, joint ventures, partnerships, collaborations, and others to achieve a strong position in the industry.

Intravascular Temperature Management Market to Reach $335.2 Million, by 2025 at 3.1% CAGR

 Allied Market Research published a report, titled, Intravascular Temperature Management Market by Product (Systems and Consumables), Application (Preoperative Care, Operative Care, Post-operative Care, and Acute/Critical Care), Indication (Acute myocardial infarction (AMI), Stroke, Cardiac Arrest, Fever/Infection, and Other), and End User (Surgical Centers, Emergency Care Units, Ambulatory Surgical Centers, and Other): Global Opportunity Analysis and Industry Forecast, 2017-2025. 

The report provides an in-depth analysis of the key winning strategies, drivers & opportunities, market share & share, key segments, and competitive landscape. According to the report, the global intravascular temperature management market garnered $261.6 million in 2017 and is expected to reach $335.2 million by 2025, registering a CAGR of 3.1% from 2018 to 2025.

  Increase in incidence of cardiovascular diseases, surge in the number of surgical procedures worldwide, and rise in case of surgical site infections drive the growth of the industry. However, high initial cost of intravascular temperature management devices would hinder the market growth. On the other hand, untapped potential in emerging economies would create new pathways for the market players in future.

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Consumable products segment to lead the global market through 2025 

The consumable products segment accounted for nearly three-fourths of the total market share in 2017 and would continue its dominance through 2025, registering the fastest CAGR of 3.5% from 2018 to 2025. This is attributed to the surge in the number of surgical procedures. The systems segment would exhibit steady growth during the forecast period.

Acute/critical care segment to remain highest revenue contributor by 2025 

The acute/critical care segment contributed more than one-third of the total market share in 2017. This segment would maintain its lion's share throughout the forecast period, owing to increase in prevalence of cardiac disorders. However, the preoperative care segment is expected to grow at the fastest CAGR of 4.6% from 2018 to 2025, owing to the growing awareness of the benefits of intravascular temperature management. The other applications explored in the research are operative care and post-operative care.

Cardiac arrest segment to grow the fastest 

A significant rise in the number of cardiac disorder cases across the world would enable the cardiac arrest segment to grow at the fastest CAGR of 3.8% from 2018 to 2025. However, the acute myocardial infraction (AMI) segment accounted for more than one-fourth share of the total market revenue in 2017 and is expected to remain dominant throughout the forecast period, owing to high prevalence of sedentary lifestyle, which in turn has led to spike in the number of AMI cases. The study also analyzes stroke, fewer/infection, and other indications.

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Emergency care units segment to contribute the highest share by 2025 

Emergency care units segment accounted for nearly half of the total market share in 2017 and is expected to maintain its lead throughout the forecast period, owing to significant increase in the number of accident cases across the globe. However, the ambulatory surgical centers is expected to grow at the fastest CAGR of 3.8% from 2018 to 2025, owing to the development of ambulatory surgical centers in developing countries and reduced hospital stay after surgeries at these centers. The research also discusses surgical centers and other end users.

North America to remain dominant, Asia-Pacific to grow the fastest 

North America contributed half of the total market share in 2017 and is anticipated to continue its dominance during the forecast period. This is due to factors such as high purchasing power, increase in surgical procedures, and rise in awareness on prevention of surgical site infections in the region. However, Asia-Pacific would grow at the fastest CAGR of 4.5% from 2018 to 2025, owing to improving healthcare infrastructure in developing nations such as China and India, rise in awareness among the population, supportive regulatory norms, and increase in per capita income.

Leading industry players 

The key market players analyzed in the report include 3M Company, Belmont Instrument Corporation, Asahi Kasei Corporation, Geratherm Medical AG, Biegler GmbH, Stihler Electronic GmbH, Smiths Group Plc., The Surgical Company BV, and Vyaire Medical, Inc. These companies have implemented various strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to gain a stronghold in the industry.

Medical Gas Analyzers Market Size to Reach USD 325 Million by 2025

According to a new report published by Allied Market Research, titled, Medical Gas Analyzers Market, by Product, Modality Type, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025,” the market was valued at $235 million in 2017, and is expected to reach $325 million by 2025, growing at a CAGR of 4.1% from 2018 to 2025.

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Depending on product, the market is bifurcated into single gas analyzer and multiple gas analyzer. At present, single gas analyzer is major revenue generator, due to lower cost, convenience, and accuracy it offers. However, the demand for multiple gas analyzers is expected to be highest during the forecast period, owing to technological advancements in multi-gas analysis systems.

According to modality, the market is categorized into handheld, portable, and benchtop. Presently, portable analyzers segment generates the highest revenue, and is anticipated to show dominance during the forecast period, due to ease of handling, cost-effectivity, and test convenience. However, the handheld segment is anticipated to exhibit the highest growth rate, owing to the technological advancements and surge in adoption of handheld analyzers.

By end user, the market is classified into hospitals, ambulatory surgery centers, pharmaceutical industry, and others. The hospitals segment occupied the largest share in 2017, and is anticipated to continue its dominance during the forecast period, due to rise in need for medical gas piping and surge in usage of medical gas therapies among the hospitals. However, the ambulatory surgery centers segment is anticipated to show fastest growth, owing to increase in number of surgery centers and rise in awareness of these centers among the developing countries.

North America held the largest market share in 2017, and is expected to remain dominant throughout the forecast period. This is attributed to higher demand for medical gas analyzers, stringent regulation for medical gas systems, developed healthcare infrastructure, and higher number of hospitals & healthcare systems. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to upsurge in number of medical gas therapies and rise in number of surgeries & emergency room patient population.

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Key Findings of the Medical Gas Analyzers Market:

Based on product, the multiple gas analyzers segment is expected grow at a CAGR of 4.5% from 2018 to 2025.

Depending on modality type, the portable analyzers held more than half of global market share in 2017, and is expected to remain dominant throughout the forecast period.

By end user, the ambulatory surgery centers exhibited fastest growth, registering a CAGR of 5.6%.

Region wise, Asia-Pacific is expected to experience growth at the highest CAGR of 5.4% during the forecast period.

Bone Densitometers Market to Reach $44,218 Thousand by 2023

 According to a new report published by Allied Market Research, titled, "Bone Densitometers Market, by Application, Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global bone densitometers market was valued at $34,690 thousand in 2016, and is expected to reach $44,218 thousand by 2023, growing at a CAGR of 3.3% from 2017 to 2023.

A bone densitometer is used to precisely measure the density and mineral content present in the bones to diagnose clinical conditions such as osteoporosis that may cause brittle bones prone to fracture.

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High incidence of disorders that cause loss of bone density, rapid increase of geriatric population, increase in technological advancements, and benefits offered by DEXA device drive the market growth. However, high cost of bone densitometers and risks associated with them limit the market growth. Conversely, launch of several health initiatives to promote awareness about osteoporosis is expected to present opportunities for market growth during the forecast period.

On the basis of technology, DEXA is expected to maintain its dominant position during the analysis period, owing to its high precision, easy handling, and safety for both adults & children use.

Based on application, the central scan segment held the major market share (more than half) in 2016, and is expected to dominate the market throughout the forecast period, owing to its effectiveness to predict fracture risk, effective targeting of antifracture treatments, high accuracy, availability of reliable reference ranges, rapid patient setup, short scan times, and low radiation dose.

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KEY FINDINGS OF THE STUDY 

• The peripheral scan segment is expected to grow with a CAGR of 3.8% from 2017 to 2023.
• Ultrasound segment is expected to grow at the highest CAGR of 4.3%.
• The hospitals segment held a major share of nearly two-thirds in the global market, and is expected to retain it throughout the forecast period.
• Asia-Pacific is expected to grow at a CAGR of 5.3% during the forecast period.

Europe accounted for a major share of nearly two-fifths of the global market in 2016, and is expected to remain dominant throughout the forecast period. This is attributed to increase in incidence of osteoporosis, increase in geriatric population, rise in patient awareness about the availability of treatment options, and favorable reimbursement framework for bone densitometry in the region.

Women’s Health Diagnostics Market to Hit $21,501 Mn by 2023, With a CAGR of 7.0%

 High demand for point-of-care diagnostics and growing awareness about the women’s health-related diagnostics drives the market growth. The focus of manufacturers on the development of novel tests; such as hormone receptor tests and HPV test; to treat women’s disorders would have a significant impact on the market growth throughout the forecast period.

The Global Women’s Health Diagnostics Market accounted for $13.1 Billion in 2016 and is expected to attain $21.5 Billion by 2023, growing at a CAGR of 7.0% during the forecast period, 2017-2023.North America was the leading revenue contributor to the global women’s health diagnostics market, accounting for nearly one-third of the global market. This is attributed to the presence of numerous screening tests for cancer detection and other diseases.

The surge in geriatric female population, increase in prevalence of various chronic and lifestyle disorders in women, rise in demand for point-of-care diagnostic testing, and high adoption of imaging procedures drive the growth of the global womens health diagnostics market. Additionally, miniaturization of ultrasound devices and untapped emerging economies provide lucrative opportunities for new market players. However, dearth of skilled professions and high cost of imaging and monitoring systems impede market growth.

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The report segments the global womens health diagnostics market by type, end user, and geography. Based on type, the market is fragmented into diagnostic devices, diagnostic tests, and accessories & consumables. The diagnostic tests segment contributed the highest revenue to the global market in 2016, owing to the high usage, applicability, and availability of tests for detecting various disorders in women. However, the accessories and consumables segment is poised to encounter the highest growth rate during the forecast period, a CAGR of 7.8%.

Based on end user, the report categorizes the market into hospitals & clinics, home care settings, and diagnostic & imaging centers. The hospitals & clinics segment dominated the global market in 2016 due to high utilization rate of various women’s health-related diagnostics procedures. However, the diagnostic & imaging centers segment is projected to grow at the fastest rate from 2017 to 2023, owing to increase in incidence of various types of health-related disorders. Regionally, North America accounted for more than one-third of the global market revenue in 2016, owing to the presence of numerous screening tests for cancer detection and other diseases. However, Asia-Pacific is expected to grow at the highest CAGR of 8.1% during the forecast period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness towards various women related disorders.

Top Key Players :

• Becton
• Dickinson and Company
• Carestream Health
• Hoffmann-La Roche AG
• GE Healthcare
• Hologic Inc.
• Koninklijke Philips N.V.
• Quest Diagnostics Inc.
• Cardinal Health
• Siemens AG.

They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.

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Vaginal Slings Market Expected to reach $1,626 Million by 2023

 According to a new report published by Allied Market Research, titled, Vaginal Slings Market by Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global vaginal slings market was valued at $628 million in 2016, and is projected to reach $1,626 million by 2023, growing at a CAGR of 14.5% from 2017 to 2023. The conventional vaginal slings accounted for three-fifths share of the global market in 2016.

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Vaginal sling procedures have witnessed an increase in demand owing to the rise in preference for the treatment of urinary incontinence. Women suffering from severe urinary incontinence lose bladder control and are hence advised to undergo vaginal sling surgeries. Women suffering from urinary incontinence experience urine leakage after coughing or sneezing, and severe urinary incontinence affects the patients daily life, where vaginal sling procedure becomes essential.

Rise in the number of women experiencing urinary incontinence, especially stress urinary incontinence across the globe is set to propel the market growth. In addition, soaring female geriatric population boosts the market growth. Moreover, increase in developments pertaining to materials utilized in constructing advanced vaginal slings supplements the growth of the market. However, lack of awareness among patients regarding vaginal sling procedures hamper the market growth. Moreover, increase in the technological advancements regarding vaginal slings offer profitable opportunities for the expansion of the market.

The vaginal slings utilized in other medical settings such as gynecological centers, and ambulatory surgical centers have recorded significant growth rate from 2017 to 2023, and is attributed to the increase in preference for the same by patients. In addition, hospitals have accounted for approximately half of the share of the global vaginal slings market in 2016, and is anticipated to do so throughout the forecast period. Hospitals adopt advanced vaginal slings at the earliest as compared to clinics, and ambulatory surgical centers which increases the number of vaginal sling surgeries performed in the hospitals.

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Key Findings Of The Vaginal Slings Market:

• The clinics segment holds the second position among the end users of vaginal sling market in 2016, and is expected to grow at a CAGR of 14.7% from 2017 to 2023.
• North America dominated the global vaginal sling market, accounting for maximum share of overall market in 2016, and is anticipated to do so throughout the forecast period.
• India is the fastest growing country of the Asia-Pacific vaginal sling market during the forecast period.
• The advanced vaginal slings are anticipated to grow at the fastest rate registering a CAGR of 16.0% from 2017 to 2023.

Asia-Pacific witnessed highest growth rate for the vaginal slings market throughout the forecast period. Asia-Pacific serves to be an emerging market with a high population density, rise in disposable income, and increase in healthcare expenditure. In addition, increase in incidence of urinary incontinence in China and India, boosts the market growth.

The key players operating in the vaginal slings market have adopted type launch as one of their key developmental strategy, among many others such as business expansion, type development, and business acquisition. The major companies profiled in the report include Coloplast, Boston Scientific Corporation, C. R. Bard, Inc., Ethicon, Inc., American Medical Systems, Caldera Medical, Cook Medical, Covidien (Medtronic), Prosurg, Inc., and Cogentix Medical.

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Operating Room Equipment Market to Reach $33,307 Million by 2023

 According to a new report published by Allied Market Research, titled, "Operating Room Equipment Market by Treatment Type and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, " the global operating room equipment market was valued at $24,192 million in 2016, and is projected to reach $33,308 million by 2023, growing at a CAGR of 4.5% from 2017 to 2023. North America is anticipated to be the highest revenue contributor throughout the forecast period.

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Operating rooms (OR) or operating theatres are designed for surgeons and surgical staff to perform surgical procedures that require time, patience, focus, and safety. The equipment used in OR consists of surgical imaging devices, anesthesia machines, electrosurgical devices, operating room lights, operating room tables, and others. Quality OR equipment plays a pivotal role in surgical settings as they streamline the workflow in the OR.

Increase in global elderly population & rise in number of hospitals boost the market growth. In addition, rise in preference for minimally invasive surgeries and growth in regulatory approvals with respect to OR equipment is expected to drive the operating room equipment market. However, high cost associated with OR equipment and unfavorable healthcare reforms, especially in the U.S., are projected to impede the market growth.

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Electrosurgical devices is anticipated to be the fastest growing segment throughout the analysis period owing to increase in the number of surgical procedures. Furthermore, the ambulatory surgical centers segment is projected to be the fastest growing end user segment with a CAGR of 6.2% from 2017 to 2023, owing to cost effective yet critically appropriate settings offered by these centers.

By geography, the market was dominated by North America in 2016, and is expected to maintain its lead throughout the forecast period. North America and Asia-Pacific collectively accounted for ~63% of the overall operating room equipment market in 2016. The growth of these regions is attributed to the availability of affordable medical treatments for several disease conditions, in countries such as Mexico, Thailand, Malaysia, India, and Singapore. However, Asia-Pacific is the fastest growing region followed by LAMEA, owing to the increase in treatment success rates and the affordable price range with respect to surgical procedures.

Key Findings of the Operating Room Equipment Market:

• In 2016, surgical imaging devices generated the highest revenue, accounting about two-fifths of the overall market revenue and is projected to grow at a CAGR of 2.4% during the forecast period.
• Electrosurgical devices is expected to grow at an above-average CAGR of 7.8%, owing to increased number of skilled medical personnel in the field.
• North America accounted for more than 40% of the market share in 2016.
• Asia-Pacific is anticipated to be the fastest growing market during the analysis period, followed by LAMEA.

The major companies profiled in the report include Steris Corporation, Stryker Corporation, Koninklijke Philips N.V., Getinge Group, Hill-Rom Holdings, Inc., Drgerwerk AG & Co. KGaA, General Electric Company, Medtronic, plc, Mizuho SOI, and Karl Storz GmbH & Co. Kg.

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Insomnia Market Expected to Reach $5,488 Million, globally, by 2023

 According to a new report published by Allied Market Research, titled, Insomnia Market by Therapy Type and Geography: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global insomnia market accounted for $4,093 million in 2016, and is estimated to reach $5,488 million by 2023, registering a CAGR of 4.2% from 2017 to 2023. North America was the highest contributor in the insomnia market in 2016; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.

Insomnia is a sleep disorder where in people have problem in falling asleep or remaining asleep. The major causes of insomnia include high stress level, mental disorders, excessive consumptions of caffeine & alcohol, and other medical conditions. Insomnia is categorized into three types depending on the duration of the disorder, namely transient (few days), acute (few weeks), and chronic insomnia (few months or even years).

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The global insomnia market is driven by factors such as emergence of therapeutics with fewer side-effects and rise in demand for over-the-counter (OTC) sleep aids. Few drugs that are used for the treatment of chronic diseases affect the quality of sleep; thereby, increasing the number of insomnia cases. Furthermore, rise in geriatric population and growth in disposable income are expected to boost the market growth. However, the side-effects caused due to excessive use of sleep medication and patent expiration of many prescription drugs are expected to hamper the market growth.

The pharmacological therapy segment is the highest contributor to the market growth. The non-pharmacological therapy segment is anticipated to be lucrative for market players, as these therapies cause fewer side effects as compared to drugs.

In 2016, North America accounted for the maximum contribution to the total revenue generated, owing to the high prevalence rate of insomnia, presence of high disposable income, and high demand for over-the-counter (OTC) drugs. In addition, the presence of large number of insomnia centers in this region and rise in the number of patients with chronic renal & kidney diseases are expected to boost the market growth. However, Asia-Pacific is expected to witness the highest CAGR during the study period, owing to increase in the number of people working at odd hours, rise in incidence rate of insomnia, and growth in disposable income.

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Key Findings of the Insomnia Market:

• The cognitive behavioral therapy segment is anticipated to grow at the highest rate during the analysis period.
• The prescription drugs segment generated the highest revenue, and is expected to continue its dominance in the near future.
• North America dominated the global insomnia market, and is anticipated to continue its dominance in the future.
• China is expected to grow at highest CAGR in the Asia-Pacific.
• The pharmacological therapy segment was the largest contributor to the market growth, in 2016.

The key companies profiled in the report include Merck & Co. Inc., Sanofi India Limited, Pfizer, Inc., Takeda Pharmaceutical Company Ltd., Purdue Pharmaceuticals L.P., Eisai, Co. Ltd., Meda Consumer Healthcare Inc., Pernix Therapeutics, Vanda Pharmaceuticals, and ECR Pharmaceuticals.

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