Laparoscopic and Open Hernia Mesh Repair Surgery Market - Emerging Trends | Geographical Reach | Global Industry Forecasts

The increasing adoption of mesh in hernia repair surgeries, rising geriatric population, new product developments, and efficient reimbursement system in developed countries are the major factors driving the growth of the hernia mesh repair surgery market during the forecast period.

The Laparoscopic Surgery Market is expected to reach USD 3.53 Billion by 2022 from USD 3.18 Billion in 2017, at a CAGR of 2.1% during forecast period.

Objectives of the Study:

# To define, describe, and forecast the hernia mesh repair surgery market, by type of surgery and type of mesh fixator (glue & tack applicator).

# To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall laparoscopic surgery market.

# To forecast the size of the market segments with respect to specific countries . 

# To profile the key players and comprehensively analyze their core competencies.

# To track and analyze competitive developments such as product launches; agreements, partnerships, and joint ventures; mergers and acquisitions; and research and development activities in the hernia mesh repair surgery market.

In 2017, the open hernia repair surgery segment accounted for the largest share of the hernia mesh repair surgery market in 2017. Open hernia repair does not require any advanced equipment and takes 25% lesser time than laparoscopy. This makes open hernia repair more cost effective. 

Moreover, this type of surgery is preferred for hernias that have been present for a long period of time. However, the laparoscopic hernia repair surgery segment is expected to register the highest growth rate during the forecast period, owing to factors such as less postoperative pain, less chances of wound infection, and early recovery.

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The report covers the hernia mesh repair surgery market across ten countries, namely, the US, Canada, Germany, France, the UK, Italy, Spain, Japan, China, and India. The US accounted for the largest share of the hernia mesh repair surgery market in 2017. 

The large share of the US is attributed to the large patient population, increasing adoption of technologically advanced products, and presence of a well-established medical reimbursement policy in the country. However, India is expected to register the highest growth rate during the forecast period, owing to the improving healthcare infrastructure and increasing patient population in the country.

The major players of the hernia mesh repair surgery market profiled in this report are Medtronic (Ireland), Johnson & Johnson (US), B. Braun (Germany), C. R. Bard (US), and W.L. Gore (US).

Stakeholders:

# Manufacturers of hernia mesh and mesh fixators

# Raw material suppliers

# Market research and consulting firms

# Regulatory bodies

# Venture capitalists

# Hospitals

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Medical Equipment Maintenance - the Growth Story of the Major Industry Leaders

The study involved four major activities to estimate the current size of the Medical Equipment Maintenance Market. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market. 

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Major industry leaders have adopted various strategies, such as partnerships, agreements, collaborations, and product launches to further expand their presence in the global medical equipment maintenance market. Partnerships, collaborations, and agreements have been the key growth strategies adopted during 2016 to 2018, by players such as Hitachi, Ltd. (Japan), Medtronic plc (Ireland), and Althea Group (Italy).

The medical equipment maintenance market is highly fragmented in nature, with several big as well as emerging players vying for market shares. Prominent players in this market include GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Toshiba Medical System Corporation (Japan), FUJIFILM Holdings Corporation (Japan), Carestream Health, Inc. (US), Agfa-Gevaert Group (Belgium), Drägerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Aramark Services, Inc. (US), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), and BC Technical, Inc. (US).

Siemens Healthineers is among the key players in the medical equipment maintenance market, due to its trend-setting role in the medical imaging, laboratory diagnostics, medical information technology, and hearing aid sectors. The company focuses on putting maximum efforts into its selected growth fields and prioritizes business for resource allocation. 

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It also focuses on entering into service agreements with end users to ensure a continuous demand for its diverse services offerings, including MES, consulting, and HCIT services. One example of this is its 2017 agreement with the Kingston Hospital NHS Foundation Trust, to provide MES services for all medical imaging systems.

Koninklijke Philips N.V. is one of the leading OEMs in the medical equipment maintenance market. The company provides vendor-neutral service offerings for various medical equipment such as imaging equipment, surgical equipment, and endoscopic devices (flexible/rigid/fiberoptic). To expand its geographic presence and service offerings, the company is entering into service agreements with various healthcare providers. 

In 2018, Koninklijke Philips N.V. signed an agreement with Governments of Ethiopia and the Netherlands to construct Ethiopia’s first specialized Cardiac Care Center, where Philips will offer full turnkey design, construction, equipping, and commissioning of the hospital location, staff education, and equipment maintenance for five years after completion.

Recent Developments:

# In 2018, Koninklijke Philips N.V. (Netherlands) partnered with Kliniken der Stadt Köln (Germany) to provide continuous modernization and maintenance of imaging systems.

# In 2017, Siemens Healthineers signed an agreement with Kingston Hospital NHS Foundation Trust to provide MES for all medical imaging systems for 10 years.

# In 2016, Canon, Inc. (Japan) acquired Toshiba Medical Systems Corporation (Japan).

Key Questions addressed by the report:

# Where will all these developments take the industry in the mid to long term?

# What types of annual and multi-year contracts are medical equipment maintenance companies exploring?

# What are the recent trends affecting original equipment manufacturers and independent service organizations?

# Which are the key players in the market and how intense is the competition?

# Which are the recent contracts and agreements key players have signed?

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Global Healthcare IT Industry - Geographies Offering High-growth Opportunities for Major Players

Factors such growing need to manage regulatory compliance through healthcare IT solutions, government support for healthcare IT solutions, rising need to curtail escalating healthcare costs, high return on investment for HCIT solutions, growing focus on improving quality of care & clinical outcomes, growing focus of stakeholders on improving patient safety and care, and rising demand for quality and advanced healthcare are some of the key factors driving the growth of the global Healthcare IT Market.

In 2015, the healthcare provider solutions segment accounted for around 54% of the global healthcare IT market. The key factor driving the growth of this market is the growing needs for health information management due to increasing number of patients across the globe. 

The growth in elderly population and subsequent increase in the prevalence of chronic diseases across the globe is driving the demand for viable solutions to efficiently manage the large volume of patients and patients’ data while reducing the operational costs in the healthcare organizations. The increasing government initiatives for the implementation of EHR systems and financial support from public-private organizations towards the development of healthcare IT infrastructure are further impelling the growth of the global healthcare IT market.

Within the clinical healthcare IT solutions market, mHealth applications is the fastest-growing segment during the forecast period followed by the radiation dose management segment. The smartphone boom and growing preference for self-care management have propelled the penetration of healthcare applications. 

Similarly, the growth of the radiation dose management solutions market can be attributed to the increasing incidence of adverse events due to radiation exposure. North America and Europe are the key markets for mHealth applications and radiation dose management, owing to the large adoption of smartphones and awareness regarding healthcare among people in these regions.

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Although, North America and Europe will continue to dominate the global healthcare IT market in the coming years, the healthcare IT market in the Asia-Pacific region is expected to witness the highest growth rate during the forecast period. 

China is expected to surpass many developed economies in the coming years with regards to the adoption of advanced HCIT solutions. Growing consumerism in the healthcare industry, accelerated economic growth of countries in the region, and the rising need to control the soaring healthcare costs are some of the key factors responsible for the emerging trend towards the digitization of patient records among healthcare organizations in this region.

Although, the global healthcare IT market is largely fragmented in nature. Cerner Corporation (U.S.), GE Healthcare (U.S.), Allscripts Healthcare Solutions Inc, (U.S.), Philips Healthcare (Netherlands), and Epic Systems Corporation (U.S.) are some of the leaders in the clinical healthcare IT solutions market. Whereas, the non-clinical healthcare IT market is dominated by players such as Oracle Corporation (U.S.), Infor, Inc. (U.S.), SAP AG (Germany), McKesson Corporation (U.S.). 

While product innovations remain at the center of strategic growth initiatives from majority of the key vendors in the global healthcare IT market, these players are also focusing on increasing their presence in the high growth markets through expansions, strategic marketing and distribution agreements, and acquisitions. Currently, the Asia-Pacific countries are at the focus on geographic expansions from leading players in the global healthcare IT market.

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Sleep Apnea Diagnostic Devices Market – Major Revenue Growth Factors

The Sleep Apnea Diagnostic Devices Market is projected to reach USD 6.49 billion by 2023 from an estimated USD 4.44 billion in 2018, at a CAGR of 7.8%. 

Growing awareness regarding the ill effects of sleep apnea, growing usage of oral appliances for sleep apnea treatment, and the large pool of undiagnosed and untreated sleep apnea patients are the major factors driving the growth of the market. Technological advancements in sleep apnea devices are also supporting the growth of the market.

On the basis of type, the sleep apnea diagnostic devices market is bifurcated into therapeutic and diagnostic devices. The therapeutic devices segment is projected to register the highest growth rate in the forecast period. Key factors driving the growth of the market include increasing prevalence of sleep apnea globally and high growth of therapeutic oral appliances for sleep apnea.

The therapeutic devices segment has been further segmented into positive airway pressure (PAP) devices, facial interfaces (masks), accessories, oral appliances, adaptive servo-ventilators (ASV), and other therapeutic devices (oxygen concentrators and airway clearance systems). 

The oral appliances segment is projected to register the highest growth rate in the forecast period. The demand for oral appliances is expected to witness significant growth due to factors such as the rise in patient pool, increase in the number of patients seeking alternatives to PAP treatments, and increased acceptance by physicians, dentists, patients, and insurance companies.

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The diagnostic devices segment has been further segmented into polysomnography devices, home sleep testing devices, oximeters, actigraphy systems, and sleep screening devices. The home sleep testing devices segment is projected to register the highest growth rate in the forecast period. The increasing prevalence of sleep disorders and the growing demand for monitoring vital signs at home are some of the key factors that are expected to drive the growth of the home sleep testing devices market in the coming years

On the basis of end users, the sleep apnea diagnostic devices market has been segmented into sleep laboratories & hospitals and home care/individuals. The home care/individuals segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the increasing home use of sleep apnea diagnostic devices primarily due to the greater preference of patients to undergo sleep examinations at home rather than at sleep labs and hospitals.

On the bases of region, the sleep apnea diagnostic devices market is segmented North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, owing to the increasing prevalence of sleep disorders, the large undiagnosed patient pool in countries like India, and public and private initiatives to raise awareness.

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