Monday, 30 June 2014

Medical Imaging Reagents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

According to a new market report published by Transparency Market Research "Medical Imaging Reagents Market (Class: Contrast Reagents, Optical Reagents and Nuclear Reagents; Technology: Nanoparticles, Fluorescent Proteins, Fluorescent Dyes and Probes, Radiopharmaceuticals and Quantum Dots & Application: Diagnostics, Drug Discovery and Development and Research and Development) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global medical imaging reagents market was valued at USD 10.3 billion in 2012 and is expected to grow at a CAGR of 8.8% from 2013 to 2019, to reach an estimated value of USD 18.5 billion in 2019.

Browse the full Medical Imaging Reagents Market Report at

Medical imaging reagents are chemical compounds specially designed to enhance images produced through imaging systems. Medical imaging reagents allow clinicians and healthcare providers to determine whether a tumor is malignant or benign and enables to locate any metastatic cancerous sites in the body. The development of a medical imaging reagent involves synthesizing it to target a particular biological process, after which imaging systems are adjusted to neutralize the particular target. Medical imaging reagents are first studied via pre-clinical animal research before engaging in human clinical studies. The growth of the medical imaging reagents market can be attributed to the increasing demand for diagnostic and functional imaging technologies. In addition, companies in this industry are trying to stay abreast with technological innovations such as hybrid imaging modalities (e.g. SPECT + MR and PET + CT), which would alternatively boost the market growth of novel imaging reagents such as nuclear reagents and nanoparticles.

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According to the Union for International Cancer Control (UICC), worldwide cancer cases are estimated to rise by almost 75% and reach approximately 25 million over the next two decades. Moreover, according to the American Cancer Society, it has been estimated that in 2014, approximately 1,665,540 new cases of cancer would be diagnosed and almost 585,720 deaths would occur due to cancer in the U.S. This increasing base of cancer patients would need advanced diagnostic imaging modalities such as photoacoustic imaging and PET+MRI as well as imaging reagents for better diagnosis, prevention and treatment of the disease, which would consequently increase the demand for medical imaging reagents.

The medical imaging reagents market has been primarily segmented by class, by technology and by applications. The medical imaging reagents class market further comprises contrast reagents, optical reagents and nuclear reagents. The contrast reagents market of the medical imaging reagents accounted for the largest market. However, among these categories, the nuclear reagents market is expected to foresee highest growth rate of over 14% from 2013 to 2019.

Moreover, medical imaging reagents technology segment comprises nanoparticles, fluorescent proteins, radiopharmaceuticals, quantum dots, fluorescent dyes and probes. The radiopharmaceuticals technology market of the medical imaging reagents accounted for the largest market due to the increased awareness about radioisotopes and high patient preference. Nevertheless, among these imaging reagent technologies, nanoparticles technology is anticipated to grow at the fastest growth rate of 9.1% from 2013 to 2019. Furthermore, medical imaging reagents application segment consists of diagnostics, drug discovery and development as well as research and development.

Among the various application areas medical imaging reagents, drug discovery and development is expected to witness the fastest growth during the forecast period owing to the growing adoption rate of medical imaging reagents in the development of nuclear medicines and medical interventions. However, diagnostics applications accounted for the largest market in terms of revenue due to the escalating patient base of cancer and cardiovascular diseases. It is expected that by the year 2019, the market value of imaging reagents for diagnostic purposes shall be worth more than USD 10 billion.

Geographically North America accounted for the largest market in the year 2012 (over 40%) followed by Europe. However, Asia Pacific is estimated to demonstrate the fastest growth rate owing to the expected rise in chronic diseases such as cancer and cardiovascular diseases coupled with rise in disposable income and growing awareness.

This market is highly consolidated in nature characterized by top five players occupying approximately 80% of the overall market share. The major players of this market include Bayer Healthcare AG, Becton Dickinson & Company, Bracco Imaging SpA, GE Healthcare, Lantheus Medical Imaging, Inc., Mallinckrodt Pharmaceuticals and Thermo Fisher Scientific, Inc.

Friday, 27 June 2014

Safety Syringes Market Expected to Reach USD 6.50 Billion Globally in 2019: Transparency Market Research

According to a new market report published by Transparency Market Research "Safety Syringes Market Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast, 2013 - 2019," the global safety syringes market was valued at USD 3.41 billion in 2012 and is expected to grow at a CAGR of 9.7% from 2013 to 2019, to reach an estimated value of USD 6.50 billion by 2019.

Safety syringes are integrated with safety mechanisms that protect patients and healthcare professionals from accidental needlestick injuries. High risk associated with the unsafe handling of syringes that may transfer HIV, Hepatitis B, Hepatitis C and other blood borne diseases, encourages healthcare workers to adopt syringes with safety features. There are two major types of safety syringes available in the market, namely, retractable safety syringes and non-retractable safety syringes. Retractable safety syringes can be further categorized as the automatic retractable safety syringes and manual retractable safety syringes. Sheathing tube syringes equipped with sliding needle covers and hinged needle covers are the examples of non-retractable safety syringes.

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 Non-retractable safety syringes accounted for the larger share of the total market in 2012, both by revenue as well as volume. However, during the forecast period, retractable safety syringes are expected to experience greater demand than non-retractable safety syringes, mainly due to advantages offered by them such as improved safety, reduced time and ease of use. The market for retractable safety syringes has been anticipated to grow at a CAGR much higher than that of the syringes with protective shield during the forecast period from 2013 to 2019.
Increasing cases of needlestick injuries, governmental legislation propelling manufacturers to develop syringes with safety mechanisms and continuous growth in injectable drugs market are some major growth factors driving the market for safety syringes worldwide. A study conducted by the Centers for Disease Control and Prevention (CDC) suggests that approximately 385,000 needlestick and other sharps-related injuries occur in the U.S. each year.

In order to ensure safety from accidental needlestick injuries, governments of various countries brought legislation in their respective countries mandating the use of safety syringes. The U.S. federal government signed the Needlestick Safety and Prevention Act into a law on November 6, 2000, compelling syringe and needle manufacturers to adopt product modifications in order to comply with the regulatory guidelines. Similarly, a legislation called TRBA 250 ensures the use of safety equipped syringes and needles across hospitals and physician offices in Germany. These legislations are expected to drive market growth by encouraging syringe companies to manufacture safety syringes in order to reduce injuries from needlestick and unsafe syringe usage. Similarly, the worldwide growth in the injectable drugs market will also drive the market growth for safety syringes.

On the other hand factors such as high product cost and availability of alternative drug delivery methods including transdermal drug delivery, nasal delivery and skin-based delivery may hamper the market growth to some extent. Geographically, North America accounted for the largest share of the overall safety syringes market in 2012 in terms of value (USD Million) as well as volume (Million Units), followed by Europe. Governmental legislation mandating the use of safety syringes across the healthcare facilities has been a key factor driving the market growth in the region. In Asia-Pacific and Rest of the World (RoW) regions, lack of strict governmental legislation regarding the use of safety syringes has been one of the major factors restraining the market growth in these regions. However, during the forecast period 2013 to 2019, growing concerns for accidental needlestick injuries will play a key role in driving the market growth in these markets. Becton Dickinson & Company, Covidien plc, Retractable, Technologies, Inc., Revolutions Medical Corporation, Smiths Medical, Terumo Corporation and Unilife Corporation are some major players operating in the safety syringes market space.

Tuesday, 24 June 2014

E-Prescribing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019

According to a new market report published by Transparency Market Research "E-Prescribing Market-Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global E-Prescribing market was valued at USD 250.2 million in 2013 and is expected to grow at a CAGR of 23.5% from 2013 to 2019, to reach an estimated value of USD 887.8 million in 2019.

Browse the full E-Prescribing Market Report at

The global E-Prescribing market is witnessing a significant growth led by various government programs to implement E-Prescribing systems in order to improve quality of healthcare and reduce medication errors. The E-Prescribing system is used in various applications including preparation of complete medication list, data security checks, complete information of formulary and patient historical data. These advanced features of E-Prescribing are some of the key driving factors for the E-Prescribing market. Additionally, improved healthcare infrastructure has increased the demand for E-Prescribing system. Moreover, implementation of electronic healthcare records with E-Prescribing system holds immense potential for the growth of E-Prescribing market. E-Prescribing market is expected to grow a CAGR of about 23.5% during 2013-2019.

On the other hand, high cost of E-Prescribing system and lack of patient privacy and security impede the growth of E-Prescribing market. Moreover, lack of high-speed broadband facilities and IT professionals in rural areas are also some of the key restraints for the E-Prescribing market.
Europe is the largest market for E-Prescribing system. Many eHealth projects in Europe are playing a vital role in the adoption of E-Prescribing system such as European Patient Smart Open Services (epSOS) and Schleswig-Holstein Health Initiative.

However, North America is the fastest growing region in the E-Prescribing market. Increased adoption of E-Prescribing system and improved healthcare infrastructure are major drivers for E-Prescribing market in North America. Moreover, several government initiatives are also promoting the usage of E-Prescribing system such as Health Information Technology for Economic and Clinical Health (HITECH) Act and National Council for Prescription Drugs Program.
In Asia, usage of E-Prescribing system is increasing due to medical infrastructure development and government initiative programs. Growing medical infrastructure has led to improvement in primary healthcare services, village clinics and urban healthcare centers through the adoption of healthcare IT technologies.