Increasing demand for cost effective "Pharmacovigilance Software" is propelling the market growth

The global Pharmacovigilance (PV) Software Market was valued at USD 117.3 million in 2015 and is expected to reach a value of USD 207.3 million by 2024. Increasing emphasis on regulatory compliances by government entities such as the U.S. FDA, European Medical Agency, etc. coupled with supportive initiatives are anticipated to drive the PV software market over the forecast period.

Increasing demand for fully integrated systems in an attempt to avert errors in database management is a crucial factor responsible for the adoption of these systems. Moreover, associated benefits of cloud-based platforms, such as remote access to information, reduction of operational costs, and ease of access are factors contributing toward the market growth in the near future.

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Further Key Findings from the Study Suggest:

• ADR reporting tools dominated the overall pharmacovigilance software market on the basis of functionality in 2015, due to the related benefits such as data entry and management with minimum errors. On the other hand, demand for fully integrated platforms is increasing to track individual case safety reports and avoid data redundancy through the elimination of errors. The aforementioned factors are anticipated to contribute toward lucrative growth of fully integrated systems in PV.
• On-demand software services, considered as cloud computing are expected to be the fastest growing service segment in the coming years due to its increasing adoption in the contract research organizations. Remote access to data, real-time data tracking, and a simpler complex physical ecosystem are the notable benefits associated with cloud-based systems.
• CROs segment is expected to exhibit profitable growth during the forecast period due to the increasing trend of outsourcing. PV service providers, in an attempt, to ensure sustainability, are providing customized end-to-end solutions to meet consumer needs. These firms are also incorporating integrated technologies, such as electronic data capture and hosting of PV warehousing to aggregate cross industry data, which enables risk evaluation. Furthermore, service providers are now operating via flexible and variable pricing structures to achieve operational excellence through constant product updates, which is expected to boost the usage rates over the next 7 years.
• North America held the largest market share as of 2015, majorly owing to the government aided initiatives favoring the adoption of PV software systems. For instance, the Open FDA initiative provides scientists and application developers the access to its massive database through open search-based programs, which is anticipated to boost the usage rates over the forecast period. Mini-Sentinel is a project started by the U.S. FDA to promote active surveillance systems, which provide statistically relevant data in less time. The aforementioned initiatives strengthen the growth of the regional market
• Many healthcare IT companies are shifting toward hosting of cloud-based platforms to gain an edge over the competition. Cloud-based technology helps in remote storage of large amounts of data to save free space on the devices and facilitates data retrieval as per client needs. The technology comprises 3 services including Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and Software as a Service (SaaS)
• The key players serving pharmacovigilance software market are ArisGlobal, Ennov Solutions Inc.,Oracle Corporation, AB Cube, Sparta Systems, Inc., Max Application, EXTEDO GmbH, Relsys, Online Business Applications, Inc., and United BioSource Corporation

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Pharmerging Market is Expected to Grow due to Increasing Healthcare Expenditure

The global Pharmerging Market is expected to reach USD 2,231.9 billion by 2025, according to a new report by Grand View Research, Inc. This market is expected to grow due to increasing geriatric population, increasing disease burden of chronic disorders and increasing healthcare expenditure. 

According to the United Nations (UN), the number of people above the age of 60 years are estimated to be 901 million in 2015. This number is expected to increase to 1.4 billion by 2030 and 2.1 billion by 2050. The increasing geriatric population boosts the demand for better treatment options for chronic diseases such as hyperlipidemia, hypertension, cancer, dementia, congestive heart failure. According to a study conducted by Deloitte in 2011, the geriatric population accounts for almost 23.0-40.0% of the prescription drug market, and 40.0-50.0% of the OTC drug market.

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Another driving factor for the pharmerging market is increasing healthcare expenditure. The global healthcare spending is expected to increase from USD 7.83 trillion in 2013 to USD 18.28 trillion in 2040. It has also been estimated that there will an increase of 3.4%, 3.0%, 2.4% in healthcare expenditure in upper middle-level income countries, lower middle-level income countries and in low-income level countries respectively.

The increasing disease burden of chronic diseases in developing countries is boosting the growth in the market. According to the Global Health Observatory data, in 2015, 70.0% of the deaths were due to non-communicable diseases (NCD). The major NCDs are cardiovascular diseases (CVD) which caused 45.0% of all NCD deaths, cancer which caused 22.0% of all NCD deaths and chronic obstructive pulmonary disease (COPD) which causes 10.0% of all NCD deaths, and diabetes which caused 4.0% of all NCD deaths.

Further Key Findings from the Study Suggest:

• Pharmaceutical segment was the major contributor for the pharmerging market in 2016.
• Pharmaceutical sector also recorded the fastest growth in the pharmerging industry.
• Tier I is driving growth in the pharmerging market.
• India among the Tier II countries is estimated to witness the fastest growth in the pharmerging industry.
• Brazil was recorded as the major contributor for Tier II countries.
• Among Tier III countries, Nigeria and Indonesia are estimated to be driving growth.
• The key players include Sanofi, Pfizer Inc., AstraZeneca, GlaxoSmithKline, F.Hoffmann-La Roche, GE Healthcare, Eli Lilly, Medtronic, Johnson and Johnson, Abbott.
• The key strategic initiatives include new product launches, acquisitions and mergers, and collaborations.

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Restorative Dentistry is the best option for all kinds of dental issues

The global Restorative Dentistry Market is anticipated to reach USD 25.9 billion by 2025, growing at a CAGR 6.7%,  according to a new report by Grand View Research, Inc. Growing number of dental practices with shifting trend towards group & corporate dental practices, advent of digital dentistry, increasing demand for cosmetic dentistry & implants, and growth of dental tourism are among the key factors driving market growth.

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With the growing enrollment of students into dental schools, the number of dental practices are likely to increase over the forecast period. The shifting trend towards group, multi-unit, and corporate dental practices which are foccused on providing high-efficiency, quality care to patients is also likely to bolster the restorative dentistry market. Besides, due to growing consumerism and disposable income amongst patients, the demand for cosmetic dentistry procedures focussed on aesthetics is also rising. These factors are in turn likely to boost the restorative dentistry market over the forecast period.

The advent of digital dentistry with technological advancements in areas such as CAD/CAM systems, intraoral imaging, digital radiography, caries diagnosis, and computer-aided implant dentistry have improved the precision and accuracy of restorations, and contributed to the growth of the restorative dentistry market. The growth of dental tourism especially in emerging economies such as India and China is also likely to drive the restorative dentistry market over the forecast period, especially in Asia Pacific.

Further Key Findings From the Study Suggest:

• Restorative materials accounted for the largest share, by product, in 2016 owing to the extensive usage of these materials in dental practice.
• Dental hospitals & clinics segment is anticipated to dominate the market in the forecast period. The growth of this segment can be attributed to the growing number of dental practices and enrollment into dental courses.
• Asia Pacific restorative dentistry market is expected to grow with the highest CAGR over the forecast period owing to the large population of this region along with rising awareness regarding oral health and growing number of dental colleges in this region.
• Major players of the market include, 3M, Dentsply Sirona, Danaher Corporation, Ivoclar Vivadent AG, GC Corporation, Mitsui Chemicals, Inc., Institut Straumann AG, Zimmer Biomet, Septodont Holding, and COLTENE Holding.

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Rising Cases of Diabetic Retinopathy are Driving the "Intraocular Lenses Market"

The global Intraocular Lenses (IOLs) Market is expected to reach USD 5.54 billion by 2025, according to a new report by Grand View Research, Inc. Factors such as rise in prevalence of cataract, increasing aging population with high risk of developing ocular conditions, and government initiatives focused on reducing instances of preventable blindness are expected to drive the market.

Benefits of premium lenses such as enhanced visualization and patient convenience are boosting their adoption globally, thereby propelling the IOLs market. However, factors such as poor reimbursement schemes for premium lenses and high post-treatment costs are challenging market growth.

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Rise in diabetic population has a direct and positive impact on the demand for IOLs as these patients are more susceptible to ocular conditions such as cataract and glaucoma. Development of novel surgical options available for cataract treatment, such as advanced micro-incision surgery and femtosecond lasers are also expected to fuel the market. On the other hand, post-surgical complications such as refractive defects are expected to moderately limit market growth.

Adoption of premium IOLs is expected to increase in the coming years since they offer benefits such as higher precision, enhanced visualization, and multifocal aperture. The premium lenses segment includes multifocal, toric, and accommodative IOLs. Multifocal lenses are proving to be beneficial to patients since they offer multifocal apertures and resolve issues such as astigmatism and presbyopia. Toric IOLs are used in the treatment of astigmatism and are estimated to replace traditional incision procedures to correct vision impairments resulting from astigmatism.

On the other hand, traditional monofocal intraocular lenses are restricted to a single focal point. They are affordably priced compared to premium lenses and hence their adoption rate among standard cataract patients is higher.

North America dominated the global IOLs market. Factors contributing to its dominance include rising adoption of premium intraocular lenses and increasing number of patients suffering from cataract in the U.S.  Asia Pacific is expected to exhibit the fastest growth rate in the global IOLs market. Increasing awareness regarding advanced surgical options and efforts of government as well as non-government organizations to improve awareness on and availability of affordable eye care are factors boosting the regional market.

Further Key Findings from the Report Suggest:

• Multifocal IOL emerged as the largest product segment as a result of high adoption despite increased prices
• Hospitals accounted for the largest share among end-use segments owing to rise in cataract surgeries in hospitals. It is also expected to grow at the fastest rate
• North America dominated the market with the largest revenue share in 2016 owing to improved awareness about advanced vision impairment treatments and increasing disposable income
• Asia Pacific is projected to witness rapid growth during the forecast period owing to speedy adoption of IOLs and advanced treatments for vision repair
• Key players including Johnson & Johnson; Alcon, Inc. (Novartis AG); Valeant Pharmaceuticals International, Inc.; EyeKon Medical, Inc.; Carl Zeiss Meditec AG; Rayner; Lenstec, Inc.; STAAR Surgical; HumanOptics AG; and HOYA GROUP dominated the global IOLs market.

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Novel Drug Delivery Systems in Cancer Therapy Market Worth $26.6 Billion By 2025

The global Novel Drug Delivery Systems (NDDS) in cancer therapy market is expected to reach USD 26.61 billion by 2025, according to a new report by Grand View Research, Inc. The market is primarily driven by global rise in incidence of cancer, increase in research activities for developing novel drug delivery technologies, and availability of research funding for ongoing projects. 

Many key players in this market are investing in R&D of novel and advanced products. This can also be attributed to increase in patent expirations. For instance, the R&D expenditure of Celgene Corporation increased from USD 3,697.3 million in 2015 to USD 4,470.1 million in 2016. Increase in R&D spending was directed toward enhancing product pipeline and for regulatory approvals of new products.

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In addition, rise in healthcare expenditure for diagnosis and treatment of cancer and awareness about alternative therapies are expected to boost market growth. Improvement in healthcare infrastructure in developing nations and increase in awareness about new treatment methods for cancer are also anticipated to propel the market during the forecast period. 

North America held the largest market share in 2016. Local presence of a large number of manufacturers, ongoing regulatory approvals for new drugs, and availability of research funding for new methods of treatment for this disorder are key factors that can be attributed to this region’s dominance in the global market. However, Asia Pacific is expected to grow at the highest rate during the forecast period. This can be attributed to rise in initiatives that boost cancer research projects, increase in healthcare expenditure for cancer therapy, improvement in healthcare infrastructure, large geriatric population base, and rise in awareness owing to medical conferences and meetings in the region.

Further Key Findings From the Report Suggest:

• The nanoparticles segment held the largest revenue share in 2016 due to increase in funding for research using these particles
• The embolization particles segment is expected to grow at the highest rate during the forecast period owing to higher precision rate and accurate drug delivery
• North America dominated the global market due to presence of a large number of cancer patients and favorable reimbursement scenario
• Some of the key players are Celgene Corporation; Teva Pharmaceutical Industries, Ltd.; GALEN; Shire; Johnson & Johnson Services, Inc.; and Spectrum Pharmaceuticals, Inc.

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Breastfeeding Accessories Market is Expected to Grow at a CAGR of 7.9%

The global Breastfeeding Accessories Market is anticipated to reach USD 2.4 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to exhibit lucrative growth during the forecast period, owing to rising consumer awareness about breastfeeding accessories coupled with decreasing infant mortality rates. 

Worldwide declining infant mortality rate is expected to fuel the demand for breastfeeding accessories. For instance, according to statistics provided by the World Health Organization (WHO), the infant mortality-rate has declined from around 63 deaths per 1000 births in 1990 to 32 deaths per 1000 births in 2015, more specifically, decreased from 8.9 million in 1990 to 4.5 million in 2015.

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Additionally, as per statistics published by the U.S. Centers for Disease Control and Prevention (CDC), the infant mortality-rate in the U.S. declined from 6.86 infant deaths per 1,000 births in the year 2005 to 5.82 in 2014 (15.0% decrease). This decreasing infant mortality rate is expected to grow their population, resulting in growing target customer base for breastfeeding accessories.

Continuous encouragement from various government across the world to breast feed babies up to the age of 6 months coupled with support from international agencies for arranging campaigns in order to increase awareness about breastfeeding are expected to support the breastfeeding accessories market growth. Additionally, rising trend of delayed parenthood after gaining financial security is anticipated to increase the spending on premium baby products, thereby assisting in the growth of this vertical.

Further Key Findings From the Study Suggest:

• The breastfeeding storage & feeding segment held lucrative market share in 2016 and is expected to grow at a significant rate over the forecast period owing to increasing penetration rates for the breastmilk containers, breastmilk storage bags & bottles, and feeding systems, as they are Bisphenol A (BPA) & Benzoyl Peroxide (BPS) free
• The nipple care products segment is expected to be the fastest segment during the forecast period owing to rising demand for nipple shields, nipple puller, nipples & lids from lactating mothers to effectively latch baby on nipples in order to breastfeed efficiently
• North America is expected to dominate the breastfeeding accessories market over the forecast period due to increasing number of working mothers in the U.S., growing awareness about breastfeeding accessories, and improved healthcare infrastructure
• Some of the key players in breastfeeding accessories market are Koninklijke Philips N.V.; Medela LLC; Newell Brands; Ameda; Pigeon Corporation; Nuby; Mayborn USA Inc.; Artsana S.p.A.; Edgewell Personal Care; and Handi-Craft Company.

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Different Factors Attributing to the Growth of the "Healthcare Cyber Security Market"

Global Healthcare Cyber Security Market size is expected to reach nearly USD 10,848.87million by 2022, according to a new report by Grand View Research, Inc. Key factors attributing to the growth of the market include the increasing incidences of cyber attacks for misuse of electronic patient health records (E-PHR), social security records, IP theft, and others. 

Cyber attacks are constantly increasing across the globe. On previous encounters it was witnessed that cyber attacks were focused on stealing, financial information, billing information, and bank account numbers using stolen devices with un-encrypted data, phishing and spam mails. Technological advancements have led to advanced cyber warfare using SQL injections, advanced persistent threats (APT), zero day attacks, and advanced malware. 

Lack of adequate IT spending by healthcare organizations and lack of awareness about cyber crime have exposed the vulnerabilities of healthcare organizations. The overall impact of cyber attacks on the hospitals and healthcare systems is estimated to be nearly six billion per year. 

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Furthermore, these organizations face internal threats due to factors such as the use of cloud services, unsecure networks, employee negligence, bring your own device (BYOD), lack of internal identification and security systems, stolen devices with un-encrypted files. 

Healthcare cyber security market is segmented by, type of threat into malware, ddos, advanced persistent threat (apt), spyware, lost and stolen devices, others. In 2013, Boston Scientific, St.Jude Medical and, Medtronic witnessed cyber attacks and hacking. In 2015, Anthem, which is the second largest health insurance provider in the U.S., witnessed a massive cyber attack leading to loss of 80 million customer records. 

Security information and event management (SIEM),risk and compliance management, DDoS mitigation, antivirus, antimalware, identity and access management, intrusion detection system (IDS)/intrusion prevention system (IPS) and others are the solutions included in the scope of the study. These solutions can be used individually or can be used as a suite of products providing layer wise security. 

Market dynamics in this sector are dependent on the type of threat, effectiveness, and frequency of attack, ability to detect and destroy. New types of threats are detected each day, hence, the solutions need to be upgraded constantly to provide adequate firewall security and prevent data breach. 

Further key findings from the study suggest:

• In 2014, North America held the largest market share of more than 41% owing to the presence of sophisticated healthcare infrastructure, and increasing collaboration between pharmaceutical, medical device industries, with regulatory authorities. This can be illustrated using the U.S FDA guidance document on networked medical devices.
• Furthermore, the U.S. is a prime target for cyber crimes due to, the presence of large fortune 500 healthcare organizations, full scale implementation of digital patient records, and use of extensive social security ids for various transactions.
• Asia Pacific is identified as one of the most lucrative regional market, growing at a CAGR of over 8.5% during the forecast period. Rapidly improving healthcare infrastructure and high level economic growth in developing countries such as China, India, and South Korea is expected to boost usage rates over the forecast period.
• Increasing number of internet users in China and India is expected to create a huge user base vulnerable to cyber attacks. According to data published by the Internet and Mobile Association of India (IAMAI), the internet user base in India is expected to reach nearly 402 million by December 2015
• Key players operating in the healthcare cyber security market include, Cisco, IBM, MacAfee, Paulo Alto Networks, Symantec, Trend Micro Lockheed Martin, FireEye, Northrop Grumma, Kaspersky etc.

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