Global Patient Engagement Solutions Market to Expand at 23.0% CAGR 2015-2023 owing to Increasing Demand for Patient-centric Services

Patient engagement solutions are primarily designed to help the population maintain better health by including IT services and electronic equipment in their medical routine. Patient engagement services encourage patients to take wiser healthcare decisions, which results in improved and healthier healthcare outcomes. Currently, hospitals and healthcare institutions from across the world are offering support to deliver effective and quality healthcare services by minimizing healthcare costs. 

Improved Health Services to Support Patient Engagement Solutions Globally

The prime aim of effective patient engagement solutions is to build a good relationship between healthcare professionals and patients to encourage active participation from patients in maintaining individual health. The global patient engagement solutions market is predicted to rise from US$6.6 bn in 2014 to US$34.9 bn by 2023, progressing at a 23.0% CAGR for the period between 2015 and 2023. Factors such as the increasing support from the governments of various nations for patient-centric services, the increasing demand for improved healthcare services, and the increasing incidence of chronic diseases are predicted to propel the global patient engagement solutions market in the years to come. 

The increasing applications of patient engagement solutions across various verticals are expected to create new growth opportunities for the global patient engagement solutions market. Recently, several leading companies were involved in strategic mergers and collaborations with organizations such as XG Health Solutions, Qualcomm Inc., and Geisinger Health System. 

Craneware, Inc., the global leader in automated value cycle solutions, recently announced its partnership with VestaCare, Inc. to offer accelerated patient engagement solutions across Atlanta. Under the partnership agreement, Craneware Inc. will be offering new patient engagement technologies to simplify and accelerate payment of the patient’s financial obligations.

According to the CEO of Craneware Inc., currently, patients are struggling with the rise in healthcare costs, including the cost of insurance. This new addition of patient engagement solutions by Craneware Inc. with VestaCare Inc. aims to offer the patients a flexible program to address their healthcare financial responsibilities.   

With more and more collaborations and mergers coming up across various verticals, players in the global patient engagement solutions market are expected to explore the untapped markets around the world in the near future. The collaborations are primarily aimed at developing new and improved patient healthcare solutions that could meet the users’ needs at low costs. Some of the leading companies in the global patient engagement solutions market are McKesson Corporation, Medecision, Inc., Emmi Solutions, LLC, GetWellNetwork Inc., Athena Health, Inc., Axial Exchange Inc., Phytel, Inc. (An IBM Company), and Allscripts Healthcare Solutions.

Self-hosted Segment to Register Maximum Demand in Global Patient Engagement Solutions Market

The global patient engagement solutions market is divided by end use into healthcare payers, pharmaceutical companies, and hospitals and healthcare providers. In 2014, the global patient engagement solutions market was led by the hospitals and healthcare providers segment. 

Self-hosted, application managed services, and software as a service are some of the commonly used delivery modes of patient engagement solutions. In 2014, the self-hosted solutions segment dominated the global patient engagement solutions market. However, the application managed services segment is predicted to progress at a considerable CAGR during the period between 2015 and 2023.

Global Parenteral Nutrition Market Gains Impetus from Rising Prevalence of Chronic Ailments Worldwide

Parenteral nutrition (PN) is commonly known as intravenous feeding. The method enables getting nutrition in the body through the veins. PN is administered to patients only when they are unable to take the required nutrition through the gastrointestinal tract for a prolonged period of time. While in general PN may include a combination of carbohydrates and sugar, lipid, proteins, trace elements, and electrolytes, the solution administered may differ in combination depending on the patient’s condition. The rising prevalence of chronic illnesses such as diabetes, cancer, and others around the world has augmented the demand for PN. The global parenteral nutrition market is also gaining impetus from increasing cases of preterm babies, coupled with the expanding malnourished population in developing nations. According to the World Health Organization (WHO), inadequate nourishment accounts for over 11% of the worldwide burden of disease and is also identified as the number one risk to the wellbeing of any nation.

Driven by the increase in the number of approvals of novel parenteral nutrition formulas and the rising geriatric population worldwide, the global parenteral nutrition market, which stood at US$4.1 bn in 2014, will reach US$6.9 bn in 2023, states Transparency Market Research in its latest report. If the figures hold true, the global PN market will exhibit a positive CAGR of 5.7% between 2015 and 2023. 

Who Needs Parenteral Nutrition? 

A patient may need parenteral nutrition irrespective of his age and depending on his condition. Parenteral nutrition, therefore, may be given to children and infants as well as adults. People can get nutrition via PN as long as it is needed. However, for the majority of cases, PN is administered for a short time and then it is removed when the patient no longer requires it and starts eating normally. 

Under normal circumstances, digestion occurs inside the human body when food is broken down in the bowel and stomach and then absorbed in the former. These absorbed nutrients are then carried by the blood to the other parts of the body. 

However in the case of parenteral nutrition, the course of normal digestion in the stomach is bypassed. PN is a special combination of liquid food mixture delivered directly to the blood through an intravenous catheter. This solution contains carbohydrates, proteins, vitamins, minerals, and fats. 

Method of Supplying Parenteral Nutrition

The majority of medical practitioners and doctors place intravenous (IV) catheter in a large vein in the arm or chest of the patient. To administer the PN solution. This IV catheter can stay in place as long as needed. However, it is very important for nurses or other healthcare professionals to take proper care in order to avoid clotting and infection. Various catheters are used for supplying PN. Some of the most commonly used catheters include PICC, Broviac, triple lumen, ports, and double lumen or single lumen catheters.

North America Gains Edge Over Other Regions in Terms of PN Demand

North America, in 2014, witnessed the maximum number of cases requiring parenteral nutrition. Hence, the region dominated the global PN market in the year. Favorable regulatory approvals and the rising prevalence of chronic ailments in the region boosts demand for PN in North America. Asia Pacific, during 2015-2023, will exhibit a 7.3% CAGR on account of a growing demand for parenteral nutrition.

Increased Need for Innovative Organ Preservation Solutions Driving Global Market’s Growth

The World Health Organization states that less than 10% of humanity’s need for transplantable organs is being met. This is the most important driving factor for the global organ preservation solutions market. Transparency Market Research indicates that this market is poised to expand at an impressive 16.50% CAGR from 2013 to 2019.

Taking Inspiration from the Wood Frogs of North America 

One of the most important challenges faced by this industry is keeping the donor organs viable for as long as possible. A cooled, not frozen, donated kidney has a maximum viability of just 12 hours, while a donated heart cannot last even that long. The solution, scientists and researchers believe, is to freeze and then thaw organs without damaging them. This could help establish proper organ banks where organs could be picked off the shelf whenever required. 

Keeping this requirement in mind, Harvard Medical School (HMS)’s Mehmet Toner seems to have been inspired by North America’s wood frogs. These amphibians freeze solid several times during the harsh winter season. But come warmer days and the frogs thaw out with no visible damage. Dr Toner explains that the amphibians manage this by replacing most of the water content in their bodies with glucose, which stops the formation of ice in their tissues when temperatures drop.

Dr Toner uses trehalose, a different sugar, as the vitrifying “cryoprotectant” to achieve similar results. Last June, he and his team showed that acetylated trehalose allowed frozen rat cells to be revivified. Further research and experiments by Dr Toner and Korkut Uygun at HMS have demonstrated that a combination of perfusion and cooling could preserve a rat liver for four days.

The OPA – A Giant Leap for Organ Preservation

In 2014, the Organ Preservation Alliance (OPA) was set up in NASA’s Research Park in Silicon Valley. This American charity organization is aimed at bringing together solutions and ideas pertaining to ice-blockers, cryopreservation, and vitrification, and overcome the several challenges that stand in the way of long-term storage of organs. Novel organ preservation solutions that have been devised at various events held by the OPA have already been submitted for patenting, showing what a remarkable achievement the organization has been in the field of organ preservation. 

The OPA has managed to gather funding from a host of donors over the past two years, stepping up research and development in devising organ preservation solutions. Since its inception, the OPA has received financial aid from the National Institutes of Health, the defense department in America, and a long list of charities, venture capitalists, and individual philanthropists who have a strong interest in cryopreservation. 

There are several small and large companies that are working towards new and innovative organ preservation solutions: Arigos Biomedical is working on high-pressure vitrification, Sylvatica Biotech is working on perfecting cryoprotectant recipes, Tissue Testing Technologies is trying out ways to uniformly warm organs, and X-therma is working on mimicking cryoprotective proteins. 

Improving Investments in Healthcare Industry Beneficial for Global Laboratory System Market

The healthcare industry, with its sprawling network and ever-growing demand, has always strived to provide the best quality of services to patients. As this sentiment extends to efficient recordkeeping and swift results, the demand for laboratory information systems (LIS) has witnessed an incredible surge. A laboratory information system is a system designed for storing complicated information pertaining to industrial or healthcare laboratories such as analytical and clinical laboratories. The use of laboratory information system enables users to store, manage, retrieve, record, and obtain laboratory data with ease.

Some of the important players in the global laboratory information system market are Psyche Systems, McKesson Corporation, Sunquest Information Systems, Cerner Corporation Medical Information Technology (Meditech), CompuGroup Medical, SCC Soft Computer, EPIC Systems Corporation, Merge Healthcare, Computer Programs and Systems Inc., HEX Laboratory Systems, Comp Pro Med, Orchard Software, TechniData America, and Siemens Medical Solutions.

Collaborations Pave Way for Efficient Solutions

Psyche Systems recently announced its collaboration with tevixMD to offer laboratories a system to verify patients for their eligibility at accessioning, point of service, or while submitting the case for billing. After the patient is verified with tevixMD, the information will be transferred to Psyche's LIS, where it will be stored along with the patient’s case information. 

The laboratory information systems by Psyche will offer a centralized platform and unified database that will cater to the specific needs of the workflow, tracking, testing intricacies, and complex reporting actions that are generally seen in areas of toxicology and drug management, molecular, and pathology. The new approach will ensure efficient, profitable, and productive output for the labs along with a promise of top-notch services for the clients.

Global Laboratory Information Market Receives Boost from Improving Government Initiatives

The global laboratory information systems market is expected to expand due to the growing need for integrated healthcare information systems, improving government initiatives, and extensive investments made by healthcare IT players. Furthermore, this market will also rise due to the changing scenario in the healthcare services industry, which is making players look at deploying laboratory information systems with a fresh perspective.

The global laboratory information system market is segmented on the basis of application, delivery, component, and geography. The applications of laboratory information systems are seen in drug delivery and clinical diagnostics. The modes of delivery used in this market are web-based, on-premise, and cloud-based. The components of laboratory information systems are hardware, software, and services. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

Geographically, North America will hold the dominating share in the global laboratory information systems market. The high prevalence of life-threatening diseases and an urgent need for diagnosing and treating them will be the two important factors driving the growth of the laboratory information systems market in North America. 

Global Immunoprotein Diagnostic Testing Market to Exhibit 5.70% CAGR from 2013 to 2019

Immunoproteins are a part of the defense mechanism of the human body; they indicate the characteristic serum concentration in abnormal situations. The concentration of immunoproteins is a major indicator for determination of a disease. Thus, the immunoprotein diagnostic testing market is growing at a fast pace owing to the growing prevalence of several diseases across the globe. As per a recently conducted research study by Transparency Market Research, in 2012, the global market for immunoprotein diagnostic testing was valued at around US$11 bn and is estimated to reach a value of US$15.3 bn by the end of 2019. This market is projected to exhibit a 5.70% CAGR between 2013 and 2019. 

Global Market for Immunoprotein Diagnostic Testing to Grow Significantly owing to Technological Advancements 

The increasing demand for accurate, quick, and preventive healthcare in developing countries is the major factor that is projected to boost the demand from the immunoprotein diagnostic testing market in the next few years. Moreover, the commoditization of products, technological advancement, strengthening of distributor networks globally, and expansion in immunochromatography are some of the factors that are expected to fuel the growth of the market across the globe in the coming years.

On the other hand, the rising prices of diagnostics are the major factor hampering the growth of the global immunoprotein diagnostic testing market in the years to come. 

The global immunoprotein diagnostic testing market is divided on the basis of technology into:

Enzyme-Based Immunoassay
Immunofluorescence Assay
Immunoprotein Electrophoresis
Immunoturbidity Assay
Chemiluminescence Assay

Among all these segments, in 2012, the chemiluminecence assay segment accounted for the largest share in the global immunoprotein diagnostic testing market, owing to its sensitivity, feasibility for wide-scale application, safety, and easy use. On the other hand, the radioimmunoassay testing segment has been witnessing a drastic fall in its market share in recent years due to increased cost of devices, high exposure to radiation, and rigid regulations for healthcare. As a result, many clinicians and doctors are preferring safer and more effective tests, resulting in a waning of the radioimmunoassay testing segment.

Oncology Segment to be Valued at US$4.9 bn by 2019

The global immunoprotein diagnostic testing market is divided as per application into allergy testing, toxicology testing, endocrine testing, infectious diseases, autoimmune disease testing, and oncology testing. Among all these applications, the oncology segment dominates the overall immunoprotein diagnostic testing market in terms of revenue and is estimated to reach a value of US$4.9 bn by the end of 2019. This segment is expected to register a progressive 6% CAGR between 2013 and 2019.

Some of the leading players operating in the global market for immunoprotein diagnostic testing market are Thermo Fisher Scientific, Inc., Omega Diagnostics Group PLC, Abbott Laboratories, Inc., The Binding Site Group, Fujirebio Diagnostics, Inc., Siemens AG, Enzo Life Sciences, Inc., Randox Laboratories Ltd., Roche Holding AG, Abcam PLC, and DiaSorin SPA.

Global Active Electronic Components Market: Growing Investments from Semiconductor Industry Giants to Boost Market Growth

Electronic components can be broadly categorized into electromechanical components, active electronic components, and passive electronic components. The active electronic components refer to display device, semiconductor devices, and others. Various semiconductor devices include transistors, integrated circuits diodes, and optoelectronic components. In 2014, semiconductor devices held approximately 50% of the global active electronic components market. Reduction in component size and reliability boosted the growth of the market. This has propelled the usage of active electronic components in miniature applications such as tablets, smartphones and smart watches. Further, growing concerns for energy conservation have increased the need for energy efficient active electronic components.

The global active electronic components market is projected to expand at a CAGR of 8.4% during the period between 2015 and 2023. The overall market was worth US$182.9 bn in 2014 and is expected to reach a valuation of US$376.9 bn by 2023. The growing demand for display devices across the military and medical sectors is driving the active electronic components market.

Neuromorphic Chips: The Latest Development in Semiconductor Devices Research

Neuromorphic chips constitute of a network of transistors that interact in a way similar to that of neurons, thereby allowing them to process analog input such as visual information. Neuromorphic chips process the analog inputs more accurately and faster than silicon chips. Processors designed to mimic neurons and neural circuits offer great advantages in terms of scalability and power consumption. Optoelectronic components have emerged as a suitable solution for building such processors as photons are faster than electricity moving along a trace. Researchers from Princeton University have demonstrated the usage of graphene as an optical capacitor. An optical capacitor stabilizes the function of laser transistors across optical neuromorphic circuits.

Intel Invested US$12 bn on Research Related to Semiconductor Devices in 2015

Taking a keen interest in the recent research studies on active electronic components, the global semiconductor chipmakers are investing massively in research and development activities. In 2015, Intel Corp., the U.S.-based industry giant made an investment worth US$12.1 bn on semiconductor research. It was followed by Qualcomm Inc. with an investment value of US$3.7 bn. Samsung Electronics took the third position with US$3.13 bn spent on semiconductor R&D. The investment value of Samsung is 5% more from the previous year’s investments worth US$2.97 bn. 

It is interesting to note that how the presence of industry giants such as Intel and Qualcomm has boosted the growth of the active electronic components market in North America. In 2014, North America dominated the overall market. However, in the coming years, the growing demand for active electronic components from the rapidly growing electronic manufacturing industry across China, Taiwan, Japan, and South Korea will propel the growth of the market in the Asia Pacific region.

Flow Meters Cement Usability due to Environment Protection Norms, Oilfield Applications Spur Market Growth

The measurement of the flow of air and water has been of interest to man since antiquity: Ancient navigators needed knowledge about the direction and velocity of airflow, and the early communities that inhabited near the Euphrates and Tigris rivers around 5,000 B.C. required the abilities to measure water flow for the fair division of water that flowed through aqueducts in these regions. Through the ages, the technique has become more refined but still remains as important as ever.

A flow meter is a device utilized for measuring the flow rate, i.e. the quantity of a liquid or gas passing through a pipe in a given amount of time. Today, flow meters have utility in several application areas such as energy management, food processing, water management, oil and gas, etc. Of all these application segments, petrochemicals and refining is one of the key sectors for the flow meters market. Gas flaring, interwell allocation, environment regulation, and quality control are the areas where flow meters are used in this sector. Obsolete flow meters are also being replaced with new smart ones for improved reliability and accuracy in measurement.

The global flow meters market will rise at a CAGR of 9.50% in the 2015-2021 period, says Transparency Market Research. Some of the key observations about the development of this market are presented as follows:

  • Of all the product types, magnetic flow meters held 21% of the global market in 2014.
  •  In 2014, food processing was the largest application segment of the flow meters market, accounting for 17.6% of the global market.
  •  Asia Pacific was the largest regional market for flow meters in 2014. This regional market will rise at a CAGR of 9.30% in the 2015-2021 period.

Utilizing Solar Energy Flow Meters Suitable for Environment Protection

Located at the remote site of the Williston Basin in North Dakota, the Legacy Reserves oilfield recently had to face the challenge of upgrading waste gas reporting capabilities without utility power service. To overcome this, solar powered flow meters were installed at each of the 14 wells in order to support the 3-phases of crude oil separation. At the end of the process, waste gas unsuitable for commercial use is transmitted to a tank equipped with a flare unit. The remnant gas is burned off as per requisites.

With systematic study and meticulous planning, optimal flow measurement was formulated to adhere to the newly laid state and federal regulations for gas emissions. Each of the 14 well heads was equipped with two gas/air flow meters to carry out the oil separation process. Low volume of wells, limitations of using disparate pressure technologies, and convincing authorities of the cost-effectiveness of installing flow meters in place of several new gas lines were the restraints that the team at Legacy Reserves had to face for the purpose.

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