Medical Devices

North America Home Healthcare Market – Analysis, Trends And Forecasts, 2015 To 2022

The North America home healthcare market was worth USD 757 million in 2014. It is projected to grow lucratively, at around 10% CAGR during 2015 to 2022 (forecast period). This can be attributed to geriatrics population and resulting chronic ailments. Increasing need to lower the healthcare costs is another market driver.

Chronic ailments require continuous care & attendance. Hospitalization involves huge costs. Demand for hospital beds outnumbers their supply. Home healthcare is an effective & affordable solution to these problems.

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Coverage under Medicaid, Medicare, and other private insurance providers is also an advantage. Moreover, governmental initiatives (e.g. Canadian Home Care Association) will encourage home healthcare. The North America home healthcare market is categorized into products, services, and countries.

Product segments are wound care, heel protectors, mattress overlays, and seating cushions. Wound care is sub-divided into wound care products, wound closure products, wound cleaners, lotions & creams, and wound care dressings.

Heel protectors are split into cushions, gels, silicon sleeves, convoluted foam boots, and synthetic protective boots. Mattress overlays comprise low air loss mattresses, pressure relief & alternating pressure mattresses, memory foam mattresses, and premium guard water mattresses. Seating cushions include latex cushions and gel & form cushions.

Wound care held over 64% of the total revenues in 2014. Infected wounds are a major concern, significantly furthering this product. Mattress overlays could capture major shares by 2022. Wound care and mattress overlays are jointly estimated to capture 86% shares by the same year. Diabetic ulcers, pressure ulcers, and venous stasis ulcers should contribute to this large share.

Services are split into home care, unskilled home care, durable medical equipment, and others. Home care services, with 31% revenues, were the leading segment in 2014. Durable medical equipment could occupy about 26% shares by 2022.

On the basis of countries, the market is categorized into U.S., Mexico, and Canada. The U.S. would grab lion’s share (over 86%) by the end of the forecast period. Sophisticated healthcare, high disposable earnings, patient awareness, and geriatric populace will be the key drivers of this country. Leading players of the North America home healthcare market comprise Span America, Smith & Nephew, Invacare, and Kinetic Concepts.

North America Home Healthcare Market

Information Source: Grand View Research

Advanced Interior Materials

Luxury furniture Market – Analysis, Trends And Forecasts, 2015 To 2022

Worldwide luxury furniture market was estimated at USD 21,389 in 2014 and is anticipated to cross over USD 28,600 million by 2022.The market is rapidly growing at a CAGR of 3.2% over the coming years. Increasing disposable income results in growth in demand for luxury living; therefore, it is impacting overall industry growth.

Adoption of online retailing methods and development of multi-functional furniture to decrease operating expenses engaged in sales and distribution are expected to expand the market. Furthermore, Real estate industry is expected to go through moderate advancement in future. Growth in real estate industry for commercial and residential places is expected to drive the luxury furniture industry market demand.

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Lifestyle of consumers in urban areas is undergoing a significant change owing to rising disposable income.  Consumers are ready to spend on luxurious products as these products are becoming key part of their life.   Moreover, increased investment on these products will assist in escalating the market demand .Although; investment associated with raw material procurement used for furniture designing will hamper the market growth further. Lack of skilled workforces for integration of visual designs in furniture is expected to restrain the sector development.

Existence of jackfruit, teak and mahogany trees as a resource for furniture designing due to maximum durability strength are attributing for high share of this material in revenue generation. Innovative and breakthrough developments in other materials used for designing luxury furniture like marble and stone are expected to boost the segment demand. In 2014, living & bedroom segment dominated the other segments with the highest revenue share .This was mainly due to existing consumers that are mostly in purchase of right kind of furniture to give aesthetic and rich look to their living room.

In 2014, Europe dominated the industry with total revenue share of over USD 7,329 million. Furthermore, changing lifestyle of consumers coupled with existence of large number of players in the region due to significant rise in disposable income are factors impacting for elevated share in Europe.

Rapid development in residential real-estate industry in Asian countries like China and India will increase the lucrative CAGR of 5.2% during 2014 to 2022. This is mainly owing to fast development in the region which is driving the luxury furniture market growth.

Luxury furniture Market

Information Source: Grand View Research

Medical Devices

Hemostasis And Tissue Sealing Agents Market – Analysis, Trends And Forecasts, 2015 To 2022

The hemostasis and tissue sealing agents market was about USD 3.4 billion in 2014. Hemostats & sealants are healthcare instruments that stop hemorrhages & bleeding. These conditions may arise from surgical practices & wounds. The market is predicted to experience profits from 2015 to 2022 (forecast period). This would result from increasing surgery volumes globally.

Major companies adopt strategies to increase their shares. This also propels market revenues. Similarly, geriatric population & chronic diseases promote market sales. These devices offer several benefits & are patient-friendly. This factor is also projected to assist the hemostasis and tissue sealing agents market.

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Diabetes, hernia fixation, eye & spinal injuries, burns, and urological disorders are some of the chronic conditions needing hemostats & sealants. Urological surgeries involving minimal invasiveness specifically utilize hemostatic solutions, furthering the market. Maximum demand for these products stems from general surgeries & cardiac illnesses.

Wide usage of these devices in cardiac diseases is credited to improved medical results. The hemostasis and tissue sealing agents market is bifurcated into products and regions. Products include tissue sealants and topical hemostats. Topical hemostats are divided into active, mechanical, and flowable. Sealants & adhesives take care of blood loss during surgical practices.

The regional segments comprise North America, Asia Pacific, Europe, and rest of the world.  North America occupied the biggest share due to cancer, diabetes, and cardiac incidences in the region. Other regional drivers consist of product launches, aggressive sales of these devices, and use of these products in medical procedures. Asia Pacific should be lucrative owing to its surgical practices & healthcare tourism. It is likely to gain more than 25% share by the end of the forecast period.

Europe would be propelled by regional surgeries & elderly population. Some of the primary companies affiliated with the global hemostasis and tissue sealing agents market encompass CryoLife, Advance Medical Solutions Group, C.R. Bard, and B. Braun. Strategic measures adopted by these players comprise integration of bacteriostatic features, research in formulation expansion, and connections with medical centers & hospitals.

Another key strategy followed by them includes mergers & acquisitions to ensure market presence and sustainability.

Hemostasis And Tissue Sealing Agents Market

Information Source: Grand View Research

Drilling & Extraction Equipments

Wireline logging service market – Analysis, Trends And Forecasts, 2015 To 2022

Worldwide wireline logging service market was valued over USD 16 billion in 2014. Increased production and exploration activities coupled with rise in real-time data gathering are factors anticipated to drive market demand further. Increase in crude oil prices will augment regress investments further, which will impact the world energy demand by 2020.Moreover; this resulted in decreasing the exploration level in well and has also increased the pressure to extract more from each well.

Furthermore, increased focus on natural gas production and technological developments is projected to boost the market demand. Completion activities and potential increase of recoverable resources in North America is anticipated to boost the demand over the coming years. Additionally, reduced profit margin and adaptable nature in the region has been benefited by continuous rising production. This has generated the requirement to optimize the E&P activities regarding major application such as reservoir evaluation. Though, issues associated with environment, augmented seismic activities and stringent regulations are expected to hinder growth over the forecast period.

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Ultra-deep water, high temperature and high pressure of new reservoirs are few conditions that direct to new challenges in the market. Based on technology, the market is divided into E-line and slickline segments. In 2014, E-line technology contributed over 57% of the industry share and is further estimated to grow at a CAGR of over 9% till 2022.This segment can be categorized under heavier and strong wireline and uses an inner core of enclosed wire for broadcasting electrical signals amid surface equipment and downhole tools. These services are essentially for well logging and tube perforating operations.

Based on hole type, the wireline logging service market is classified into cased hole and open hole, as a result, Cased hole service market contributed over 50% of the total revenue in 2014.  Cased hole aids in recovering the measurements through metal piping while open hole involves the operations that are executed before the wellbore has been cemented. North America wireline logging service industry is anticipated to undergo significant demand further and   is rapidly growing at a CAGR of over 9.1% over the forecast period. This is mainly due to incessant augmentation in production and exploration activities in the U.S.

Wireline logging service market

Information Source: Grand View Research