Global Medical Tourism Market Size, Share, Growth and Forecast to 2024 | Hexa Research

The Medical Tourism Market is defined by patients travelling abroad to seek surgical or medical assistance for quality treatment available overseas. The market is at a growth stage and is expected to grow further over the forecast period buoyed by factors such as quality of healthcare offered at optimal cost, expert healthcare practitioners, and customized approach in providing end-to-end services including support in obtaining a medical visa to arranging patients’ stay.

 In addition, prevailing cost of medical services in patients’ home-country, availability of advanced healthcare treatment facility, and legal restrictions on a few medical practices such as fertility processes in home country are adding to the growth of medical tourism market. In addition, increase in campaign and marketing of medical facilities to endorse medical tourism and presence of international health insurance is expected to boost the market over the forecast period. Presence of cashless facility and wide number of hospital under insurance coverage are also expected to provide opportunities for market growth.

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Medical tourism and international accreditation continue to play a vital role in patient inflow into destination countries boosting medical tourism. The number of accredited facilities is rising year-on-year giving international exposure to hospitals, indirectly linking medical tourism successfully.  

Improving healthcare infrastructure, presence of favorable government policies, and presence of quality healthcare service at lower price is propelling the market in the Asia Pacific region. Among the various countries in Asia Pacific, India is increasingly becoming a medical tourism hub as the country offers cost advantage, has quality hospitals and skilled doctors, and favorable medical visa policies. For instance, India’s e-medical visa facility permits three medical visits to patients in the country. The country also offers medical visa for follow up treatment. Dental tourism and cosmetic surgeries are among the leading sectors for medical tourism in India. Major inflow of patients in India are from countries such as UAE, Middle East, Africa, Bangladesh, Sri Lanka, Afghanistan, Uzbekistan, Kuwait, and Mauritius. Besides India, Thailand secures prime spot in medical tourism market. Malaysia is another prominent destination amongst medically sophisticated infrastructure led nations. Economically affordable treatments lay the road for Malaysia to be one of the most forward-looking nations in medical tourism market.

Technology leverage to bring in innovation in healthcare has also added to the growth of the market. Technology usage including cloud computing and web 2.0 has spurred growth in the market. Cloud computing is largely being leveraged for keeping and sharing electronic medical records. Leveraging cloud computing, electronic medical record (EMR) can be made available universally to healthcare service providers. All healthcare tourism service providers and healthcare practitioners can access the same medical record on a real-time basis. Besides bringing efficiency in the process, EMR decreases extra diagnosis and medication errors and brings efficacy in healthcare systems.  

Some of the popular hospital chains active in the market include Apollo Hospitals, Asian Heart Institute and Research Centre, Fortis Healthcare, Aditya Birla Memorial Hospital, NTT Medical Center Tokyo, KPJ Healthcare Berhad, Seoul National University Hospital, Raffles Medical Group, Prince Court Medical Centre, Barbados Fertility Centre, Bangkok Hospital Medical Center, Min-Sheng General Hospital are the leading healthcare tourism provider.

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Electromedical and X-ray Equipment Market by Product, Application, Technology & Forecast to 2024

X-beam is a kind of electromagnetic ionizing radiation with applications in a broadened scope of businesses. In therapeutic industry, X-beam gadgets constitute the biggest offer of the symptomatic imaging market. The maturing of the world's population and the rising occurrence of growth, coronary illness, and different conditions is driving the demand for electromedical and X-ray equipment market for cancer, heart disease, and X-rat gadgets. Interest is driven by mechanical progressions, demographics (the maturing US populace drives the requirement for medicinal items), and the necessities of the human services industry. The profitability of individual organizations relies on upon operations and viable advertising. Vast organizations appreciate economies of scale in examination, assembling, advertising, and conveyance. Littler organizations can contend adequately by creating inventive advancements or claim to fame items for corner markets, for example, growth treatment device.

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Accessibility of substantial number of players in the business sector has led to a nonstop evolvement of cutting edge advances to build image quality. Advanced imaging procedures keep on evolving with enhancements in picture quality, measurement lessening systems, and efficiencies in work process. The X-ray gadgets innovation has moved from simple imaging to advance. X-rays show numerous applications in the diagnostic as well as therapeutic areas of cancer, cardiovascular and mid-section illnesses to give some examples. Fast advances in radiology that have happened in the previous couple of decades have made ready for the extension of the medicinal imaging hardware market. Imaging gadgets, for example, magnetic resonance imaging (MRI), computed tomography (CT or CAT), and ultrasound have permitted further choices for treatment direction with low dismalness. This has helped doctors to evaluate patients without surgical mediation and along these lines enhance the patient results and personal satisfaction

X-ray imaging gadgets constituted the key fragmenst in the worldwide medical imaging equipment market.

The key driving forces for the development of this segment includes expanding occurrence of scatters and simple accessibility and adequacy of x-ray gadgets. Rising occurrence of cardiovascular, respiratory, oral, gastrointestinal, and genitourinary scatters are boosting dependence on a few propelled x-beam indicative gadgets all around. The WHO gauges that around 60% to 90% of school kids and 80% to 90% grown-ups (matured 19 to 34 years) experience the ill effects of dental cavities. In addition, the worldwide rate of oral growth ranges between 1-10 cases for every 100,000 people. These two variables, combined with an expansive patient pool of patients experiencing dental pits, is expected to boost the industry growth. Among the x-ray gadgets market, stationary gadgets overwhelmed the business sector by ideals of being routinely utilized imaging gadgets. These are likewise a more financially savvy choice contrasted with compact x-beam hardware gadgets. Stationary gadgets are for the most part favored in the underserved markets of Asia and Africa.

Based on product type, the Electromedical and X-ray Equipment Market is segmented into Digital Radiography (DR), Computed Radiography (CR) and retrofit radiography system. Electro-medical equipment includes a variety of powered devices, such as pacemakers, patient-monitoring systems, MRI machines, diagnostic imaging equipment (including informatics equipment), and ultrasonic scanning devices.

Established markets such as the US, Western Europe, and Japan are top sales regions for the industry. Developing nations such as Brazil, Russia, India, and China are targeted by companies in the industry for growth.

Major US companies include Medtronic,Hologic, Varian Medical Systems,, St Jude Medical and ZollMedical, as well as  General Electric. Outside the US, major companies includeSonova (Switzerland), St Jude Medical,, St Jude Medical., Bracco Imaging S.p.A, , Agfa-Gevaert N.V ,Canon, Inc., Fujifilm Holdings Corporation,,Agfa-Gevaert N.V, Hologic, Inc., Hitachi Medical Corporation, Konica Minolta, Inc., Shimadzu Corporation,, Agfa-Gevaert N.V., Philips Healthcare, , Agfa-Gevaert N.V , Thales group,, Agfa-Gevaert N.V, Varian Medical Systems, Inc., , Agfa-Gevaert N.V  and Ziehm Imaging, Inc.

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Interventional Cardiology Devices Market Size, Share, Growth and Forecast to 2020

The global Interventional Cardiology Devices Market is anticipated to reach around USD 25.2 billion by 2020. High incidence of heart related disorders can directly impact product demand over the forecast period (2012 to 2020). Valvuloplasty, angioplasty, and coronary thrombectomy are procedures that need such devices. Key industry drivers are popularity of minimally invasive surgeries and unhealthy lifestyles that trigger the onset of cardiovascular anomalies. Also, rising cases of congenital heart diseases may positively impact the overall market in the years to come. The use of novel devices and new drug therapies in treating cardiovascular disorders has led to higher life expectancy and better quality of life of patients. According to the World Health Organization (WHO), number of deaths caused by cardiovascular disorders is expected to be nearly 23.3 million by 2030.

The worldwide Interventional Cardiology Devices Market is segmented on the basis of products and regions. On the basis of products, the divisions are balloon inflation devices, PTCA balloons, stents, PTCA guidewires, and interventional cardiology catheters. With a market share exceeding 70%, interventional cardiology catheters dominated the global industry in 2013.

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 Application of novel technologies that lower the risks of post-operative complications and restenosis in angioplasty is a key factor that drives this segment. Different types of stents are bio-absorbable, drug eluting, and metal. Bare metal stents have helped in lowering the rates of restenosis by around 20 to 25 percent.

However, owing to greater effectiveness, bio-absorbable & drug eluting stents are increasingly being used in place of bare metal stents. The bio-absorbable stents segment may register the highest growth rate in the forecast period. This is attributed to increasing awareness about the benefits of such stents, such as their ability to lower the possibility of restenosis. Catheters are a rapidly growing product segment because these are utilized extensively in minimally invasive medical procedures. Due to the high incidence of cardiovascular disorders, demand for angioplasty catheters may surge in the forthcoming years. This segment is propelled by technological advancements, widespread patient awareness, and prevalence of structural & congenital heart ailments.

Geographically, the global interventional cardiology devices market is categorized into Europe, North America, Asia Pacific, and Rest of the World. With shares surpassing 35%, North America dominated the overall industry in 2013. Widespread awareness in advanced economies and the presence of large pediatric & geriatric populations are key regional drivers. According to the American Heart Association, nearly 22% of the pediatric population belonging to the 6 to 17 years age group suffers from cardiovascular disorders. This owes to the prevalence of obesity in the region. Asia Pacific can expand at the highest CAGR over the forecast period because of popularity of minimally invasive procedures that ensure quick recoveries and cause minimal trauma to patients.

Key companies in the worldwide interventional cardiology devices industry are Boston Scientific, Abbott Laboratories, Terumo Medical Corporation, B. Braun Melsungen AG, and Cordis Corporation among others. In December 2016, Boston Scientific launched the SYNERGY stent. This product has been approved by the US FDA for use in the treatment of coronary artery disease. It is the first ever stent that offers synchronized polymer & drug absorption. It enables complete & rapid arterial healing and thus lowers the risks of complications pertaining to long term polymer exposure.

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Diagnostic Imaging Market Overview, Size, Growth, Key Players, Analysis & Forecast to 2025

The Global Diagnostic Imaging Market is projected to witness substantial growth in the coming years owing to rising demand for minimally invasive treatment. Diagnostic imaging is an advanced medical technique to capture clear images of organs and internal structures of the patient’s body. These images are used by healthcare professionals to diagnose and monitor diseases and injuries in patients. Diagnostic imaging enables early diagnosis of chronic diseases, which can increase the chances of successful treatment.

Growing need for advanced diagnostic techniques to study medical conditions in the best possible manner can augment market growth. Medical problems like broken bones, cardiac abnormalities, gastrointestinal issues, and cancer are likely to impel demand for advanced imaging technologies for effective diagnosis and treatment. Clear and detailed images can help healthcare professionals to make accurate and effective medical decisions. This, in turn, can propel demand for technologically advanced medical devices in healthcare facilities.

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Moreover, supportive government initiatives to develop healthcare infrastructure across the globe can stimulate growth of the market. Rising demand for portable imaging devices in remote areas to improve healthcare facilities and provide better medical treatment can augment market expansion in the coming years.

High cost of machinery and its installation can hamper growth of the market. However, R&D activities by manufacturing companies to develop technologically advanced medical devices can create lucrative opportunities for the market. For instance, OmniVision Technologies, Inc. in collaboration with Lighthouse Imaging, introduced a new platform that allows medical device manufacturers to integrate stereoscopic 3D imaging into endoscopes. The platform incorporates an image signal processor and two CMOS image sensors from OmniVision, and camera control unit and a light control board for LED illumination from Lighthouse.

The market can be segmented on the basis of product type and application. Based on product type, the market can be categorized into X-ray, computed tomography (CT) scanners, and magnetic resonance imaging (MRI) systems. In terms of application, the market can be classified into cardiovascular and thoracic, neuro and spine, orthopedics and musculoskeletal, obstetrics, and breast health.

North America is likely to witness significant growth in the coming years owing to growing elderly population. The United States is expected to hold the largest share in the market than other developed countries. Rising demand for advanced diagnostic services owing to increasing cases of chronic diseases among elderly population can impel regional market growth. Supportive reimbursement policies and technological developments in imaging modalities by manufacturing companies can drive the market in the coming years. For instance, GE Healthcare launched its new ultrasound system named Versana Essential. The system offers high image quality and help healthcare professionals during diagnosis. Doctors can use it to view kidney vessels, thyroid vasculature, and assess blood flow through the carotid, aorta, and other vessels.

Europe is estimated to witness remarkable market growth owing to significant advancements in in the brain imaging sector and stroke services. Increasing use of teleconsulting and teleradiology in the healthcare sector can impel regional market expansion. Advent of telemedicine in Germany can propel demand for advanced machines to view, access, and share radiographic images or diagnostic reports. Countries like France, United Kingdom, and Russia are also likely to contribute significantly to regional growth. Launch of innovative products by manufacturers can gain traction among healthcare providers. For instance, Philips introduced its new mobile C-arm imaging platform named Zenition. The platform can provide live image guidance to healthcare professionals during surgeries. Advanced features like position memory and BodySmart software can allow the device to capture the images fast and consistently. In addition, MetalSmart software can automatically improve image quality in terms of brightness and contrast.

Asia Pacific is likely to bode well in the coming years owing to growing ageing population and increasing incidence of chronic diseases. Growth of the medical tourism in developing countries like India, Japan, and China owing to advanced healthcare infrastructure can augment regional growth. Supportive government policies and medical grants to execute R&D activities in the healthcare sector can drive the market in the coming years.

Some of the leading companies operating in the diagnostic imaging market are Siemens Healthcare, GE Healthcare, Hitachi Medical Corporation, Philips Healthcare, and Toshiba Medical Systems Corporation.

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Nootropics Market Size, Share, Growth and Forecast to 2025 | Hexa Research

The Global Nootropics Market is anticipated to expand with a rapid pace in the years to come on account of modernization and technological advancements. Increasing consumer spending on healthcare and wellness products, and rising awareness regarding benefits of the product can drive the market. Additionally, easy accessibility and cost-effectiveness of the product are expected to boost the sale of the product. Growing trend of cognitive enhancement among healthy people for professional advantage, academic success, personal improvement, athletic performance, and to sustain brain activities during old age is projected to boost the product demand in the years to come.

Growing trend of supplements is anticipated to support market growth in the coming years. High adoption of social media platform to promote the products can have a positive impact on market growth. Increasing adoption of nootropics among students is a key driving factor in the market. The product can enhance the efficiency of brain functions and protect the brain from chemical injuries. Memory enhancing nootropic medications improve learning and memory effect and develop the capability of learned behaviors to resist distraction. Furthermore, continuously growing competition in education and career is increasing the product demand among working professionals.

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Numerous people are preferring supplements and smart drugs to enhance concentration and grasping power, thereby boosting market growth. Moreover, these products are used in the treatment of several cognitive and age-related disorders, such as hyperactivity, Alzheimer's disease, and Parkinson's disease. Various individuals across the world are undergoing depression, and other emotional and mood disorders. Thus, increasing demand for mood enhancers is also projected to stimulate market growth in the years to come.

However, low awareness regarding the product among consumers, lack of organized treatment, and hesitation to visit neurologist or psychiatrist, especially in emerging countries can hamper market growth.

Nootropics find their application in memory enhancement, attention and focus, sleep, anti-aging and longevity, anxiety, recovery, mood and depression, and dream enhancement. Memory enhancement holds a prominent share in terms of revenue. This could be attributed to continuously evolving education system and working environment, which involves workload, and mental and physical pressure. Mood and depression, and attention and focus are likely to emerge as prominent applications in near future due to growth of aging population, which is more vulnerable to dementia.

North America is one of the leading consumers of nootropics on account of high consciousness among consumers regarding preventive and cognitive health. Factors, such as presence of established players, large population pool, increasing number of self-directed consumers, and proliferation of distribution channel, are likely to support regional growth in the years to come. Furthermore, ongoing research activities by government and private organizations regarding cognitive enhancers and brain supplements are expected to create several opportunities for the regional market.

Asia Pacific is anticipated to witness the fastest growth in the coming years. Emerging countries, such as India and China, have a history of natural and herbal cognitive medicines, which improve the brain functions. Increasing foreign investment in partnership with regional players is anticipated to have a positive impact on regional market growth. Europe is projected to emerge as one of the promising regions in near future on account of growing geriatric population and increasing number of product launches.

The market in Middle East and Africa is expected to expand owing to increasing number of health-conscious consumers. Presence of new entrants in dietary supplements and nootropics business is also expected to supplement regional growth in the years to come.

Some of the leading companies operating in the nootropics market are Cephalon, Inc.; Accelerated Intelligence, Inc.; Purelife Bioscience Co., Ltd.; AlternaScript LLC.; and Nootrobox Inc.

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