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(September 13, 2017)
INDORE, India, September 13, 2017 /PRNewswire/ --
United Nations (UN) report, it was estimated that one in six people across the globe are suffering from some form of neurological disorders. World Health Organization (WHO) estimates the number of Disability Adjusted Life Years (DALYs) for neurological disorders across the global to increase from 6.39% in 2015 to 6.77% by 2030. Moreover, neurological disorders contribute 12% of total death globally according to WHO. Increasing prevalence of neurological diseases, has led researchers and physicians to find new treatment regimes. Ultrasonic aspirator is a surgical device that breaks down tissues using low frequency ultrasound energy. Neurological disorders, especially central and peripheral nervous system are key application area of ultrasonic aspirator. Global ultrasonic aspirators market is projected to rise at CAGR of 5% for the forecasted period 2016-2023. Demand for minimally invasive surgeries, rising prevalence of neurological disorders, high prevalence rate of brain tumour, aging population, increasing healthcare expenditure are the main drivers of global ultrasonic aspirators market for the forecasted period.
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Aging population: Growth driver
National Institute of Health (NIH), USA estimates geriatric population (65 years and above) across the globe to increase from 8.5% in 2016 to 17% by 2050. Adults aged 60 years and above are more prone towards neurological disorders like Alzheimer's, Parkinson's, epilepsy, dementia and other, according to Annals of Neurology. According to World Health Organization, over 20% of total geriatric population (aged 60 years and above) across the globe suffer from some form of mental disorders. NIH anticipates Europe and Asia Pacific to be the focal point of aging population till 2025. Median age across Asia Pacific and Europe in 2016 is estimated to be 31 years and 43 years respectively according to EU Commission and Asia Pacific United Nation Development Program (AP_UNDP). Cancer is amongst the second most common cause of death in elderly population according to Medical Journal Biomed Central. According to Transactions of the American Clinical and Climatological Association, more than 60% incidences of malignancies around the globe are found amongst the elderly population in 2015. Moreover, 70% of all cancer deaths are observed amongst adults aged 60 years and above. With increasing life expectancy of population, probability of cancer incidence amongst elderly population is bound to increase. Systemic therapy involving radiotherapy and surgeries is the key treatment strategy followed commonly against brain tumours. Even though significant strides have been made in radiotherapy in terms of dose delivery, side effects of irradiation are still prevalent amongst elderly population. According to Annals of Neurology, one in seven radiotherapy treatments against brain tumour often affects in a form of blindness, gait control, amongst elderly people. Thus, minimally invasive treatments like that of ultrasonic aspirator would provide hope against treatment of brain cancer.
Asia Pacific: Fastest growing market
Asia Pacific is the fastest growing market for ultrasonic aspirators market for the forecasted period, according to OBRC analysis. High prevalence rate of neurological disorder, increasing healthcare expenditure, aging population, demand for quality healthcare treatment regime, positive economic outlook and changing regulatory policies are the factors driving global ultrasonic aspirators market for the forecasted period. India, China, Japan, South Korea, Australia and Singapore are key markets for ultrasonic aspirators according to OBRC analysis. More than 28% of the total population in Japan are aged 60 years and above according to Statistics Japan, 2016. With aging population, the prevalence rate of neurological diseases is bound to increase significantly. According to OBRC studies, neurological disorders in Japan have increased by an astounding 175% since 1990. Every year, prevalence rate of neurological disorders in Japan is increasing by an average of 7.4%. Mortality rate in Japan due to neurological disorders stood at 60 per 100,000 in 2016, increasing from 45 per 100,000 in 2010 according to Health Grove. Due to rise in aging population and increasing prevalence of neurological disorders, Japan forms a lucrative market for ultrasonic aspirators for the forecast period. Similarly, World Health Organization (WHO) estimates by 2025, India & China together constitute more than 55% of the Asia Pacific's total population according to UNESCAP in 2017. Healthcare expenditure in India & China is anticipated to grow by an average of 9% per annum till 2019 according to World Bank estimates. Prestigious journal, The Lancet, anticipates the burden of mental, neurological and substance use disorders in India and China to increase by 23% and 10% by 2025. According to Medical Journal Neurology India, roughly 35million people in India are suffering from some of neurological disorders in 2016. Majority (47%) of the neurological cases are coming from rural areas according to Journal Neurology India.
About Occams Business Research & Consulting (OBRC):
Occams Business Research & Consulting has been in the business (Market Research) for the past three years. OBRC, based in India, is formed by two women analysts, Shyamal Moghe and Sathya Durga, who started the company after years of working as analysts and project managers for companies such as Frost & Sullivan, Smart Analyst, etc. and have an excellent track record for the best customer satisfaction. You can see their professional profile on LinkedIn:
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