Data Projects the Global Medical Device Technologies Market to Grow $674 Billion by 2022
NEW YORK, October 30, 2018 /PRNewswire/ --
According to a report published by BCC Research, the global medical device technologies market is expected to grow from USD 521.2 Billion in 2017 to USD 674.5 Billion by 2022. The market is also set to register a compound annual growth rate (CAGR) of 5.3%. The increasing demand for higher quality of healthcare and stringent regulations are some of the key factors that drive the growth of medical device technologies market. Robert G. Hunter, BCC Research senior editor, life sciences, said: "The demand for multifunctional devices is rising, which means the cost savings achieved can then be passed along to the end users or patients. Even patients who depend on devices for self-care are preferring those that can perform multiple functions." PCT Ltd. (OTC: PCTL), CytoSorbents Corporation (NASDAQ: CTSO), CorMedix Inc. (NYSE: CRMD), Cerus Corporation (NASDAQ: CERS), Amedica Corporation (NASDAQ: AMDA)
The requirement for high degree infection prevention is driving the global infection control market. According to another report published by Grand View Research, the global infection control market is expected to reach USD 258.3 Billion by 2025. Based on end-use, hospitals dominated the market in 2016 and is expected to grow at the fastest CAGR during the forecast periods. North American held the largest market shares in 2016 due to a consistent number of strategic collaborations adopted by key market players. While the Asia Pacific market is expected to grow at the fastest rate.
PCT Ltd. (OTC: PCTL) announced last week that it has, "entered into a Master Services Agreement with a New York-based hospital supply and services company for the installation of two Annihilyzer(R) Infection Control Systems to prevent hospital-acquired infections (HAI's) in hospitals in its market area.
According to the Center for Disease Control & Prevention (CDC), 'On any given day, about one in 25 hospital patients has at least one healthcare-associated infection.' Quoted in Clinical Leadership & Infection Control, Lynn White, MD, President of Patient Shield Concepts, said '...the estimated direct medical cost of HAIs is around $10 billion annually, not including cost-shifting to private payers. Including cost-shifting, HAIs may cost closer to between $35 billion and $45 billion for acute-care hospitals annually. The total direct, indirect and nonmedical social costs of HAIs are estimated at around $96 billion to $147 billion annually, including loss of work, legal costs and other patient factors.'
The Annihilyzer(R) Infection Control System produces on-site generated Electrochemically Activated cleaner and disinfectant fluid solutions that allow hospitals to move away from traditional disinfectants that are toxic and can cause harm to the housekeeping staff and patients to a cleaner and a disinfectant that are safe, environmentally sound and greatly reduce the damage to furnishings and equipment caused by toxic chemicals, yet is effective against HAI's like MRSA, VRE and C-diff. PCT Health's system tracks the life cycle of the cleaner and disinfectant and alerts the user before the product is no longer at its optimum effectiveness.
The tracking system can be customized to track employees to ensure that all proper cleaning and disinfecting protocols are being performed during the cleaning process. This assists the hospital administration by supplying valuable data regarding the who, what, when and how all areas of the hospital are cleaned and disinfected.
This system also incorporates the use of Electrostatic Smart Applicators that apply disinfectant to all surfaces. Human error associated with improper application and coverage of disinfectant is no longer an issue as the electrostatic applicators ensure that all surfaces are covered and wrapped with disinfectant. Fogging or misting systems are not time or cost effective whereas the electrostatic application process is more thorough and takes less time, so room turnover is much faster. The Annihilyzer(R) Infection Control System is very cost effective and performs well where other cleaning and disinfecting systems sometimes fail.
For additional information about the Annihilyzer(R) Infection Control System, visit http://www.pcthealth.com
CytoSorbents Corporation (NASDAQ: CTSO) is a leader in critical care immunotherapy, specializing in blood purification. Recently, CytoSorbents once again sponsored the 7th Annual Celebration of Sepsis Heroes event hosted by the Sepsis Alliance on September 13th, 2018, in New York City at Marquee New York (289 10th Avenue). The sold-out event recognizes individuals and organizations that are making a difference in sepsis awareness. This year's honorees include Mr. Jay Towers, the University of Michigan Post ICU Longitudinal Survivor Experience (UM-PULSE), Rooks County Health Center, Ms. Jill Kogan Blake, and Ms. Sharon Hansen. In addition, CytoSorbents will again sponsor the Roger Bone Award for Excellence in Sepsis Research, to be awarded by the German Sepsis Society at this year's DIVI Critical Care Congress in Leipzig, Germany, to recognize an outstanding publication in clinical sepsis research for young scientists in German-speaking countries. Dr. Bone was a pioneer in understanding the connection between uncontrolled inflammation and organ failure in sepsis pathology and one of the fathers of critical care immunotherapy. Dr. Phillip Chan, MD, PhD, Chief Executive Officer of CytoSorbents stated, "Sepsis is the overzealous immune response to an infection, and remains one of the top ten causes of death worldwide, despite the use of antibiotics and standard medical care. Only through a coordinated effort of infection prevention, faster recognition, early antibiotic treatment, and aggressive control of deadly inflammation, can we turn the tide on this lethal scourge. We are thankful that our CytoSorb therapy is being increasingly embraced around the world as a powerful new weapon against sepsis."
CorMedix Inc. (NYSE: CRMD) is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases. CorMedix Inc. recently announced that the independent Data Safety Monitoring Board (DSMB) has completed its review of the interim analysis of the data from the currently ongoing Phase 3 LOCK-IT-100 study for Neutrolin(R). Because the pre-specified level of statistical significance was reached and efficacy had been demonstrated, the DSMB recommended the study be terminated early. No safety concerns were reported by the DSMB based on the interim analysis. The Company will submit the results of the interim analysis to the U.S. Food and Drug Administration for its review. "We are thrilled to have received the DSMB's recommendation that efficacy has been demonstrated. Once we have submitted the interim analysis results and DSMB's recommendation to the FDA, we will begin the dialogue on the appropriate next steps," said Khoso Baluch, Chief Executive Officer of CorMedix. "We have invested a significant amount of the Company's resources over the last 2 1/2 years in this study, and it is gratifying to have achieved this result based on the interim analysis. We believe Neutrolin has great potential to save lives of patients receiving hemodialysis therapy as a treatment for end-stage renal disease and to lower overall health care costs due to reducing the risk of catheter-related bloodstream infections (CRBSI)."
Cerus Corporation (NASDAQ: CERS) is a biomedical products company focused in the field of blood transfusion safety. Cerus Corporation recently announced that the U.S. Department of the Navy will implement pathogen-reduction for all apheresis platelets collected at Navy Blood Donor Centers. The Bureau of Medicine and Surgery (BUMED) noted that with the recent history with Zika Virus, Ebola, Chikungunya, Dengue, and Babesia, emerging pathogens continue to threaten the blood supply and that the use of pathogen reduction technologies will preemptively address the risk due to emerging pathogens. All Navy Blood Donor Centers are required to implement the policy to pathogen-reduce platelet components by December 31st, 2018. "We are pleased that the U.S. Navy is expanding the use of pathogen-reduction technology to treat platelet components throughout its entire blood collection system," said William 'Obi' Greenman, Cerus' President and Chief Executive Officer. "By fully adopting pathogen reduction, the U.S Navy Blood Program is providing our Nation's Sailors, Marines, and their families around the globe access to platelets with reduced risk of transfusion-transmitted infection (TTI) from known and emerging pathogens."
Amedica Corporation (NASDAQ: AMDA) is an innovative biomaterials and OEM company that develops and commercializes silicon nitride for various biomedical applications including orthopedic, dental and arthroplasty. Amedica Corporation recently announced the filing of a U.S. patent application for breakthrough research findings that have identified a new property of its proprietary silicon nitride. The mechanism, known as alkaline transesterification, is known to cause genomic cleavage in active viruses leading to their inactivation and lysis. The investigation employed a commonly accepted assay of measuring mammalian cell viability in the presence of high concentrations of virus particles. In the case of Influenza A virus, a 5-minute exposure to Amedica's silicon nitride either at room temperature or at 4oC was enough to result in complete virus lysis and inactivation such that 100% of the exposed cells survived. In an identical parallel test conducted without silicon nitride, the virus remained intact and was able to infect and destroy exposed cells. Silicon nitride proved to be an effective disinfectant of the virus thus providing a protective effect to cells exposed to the virus. "From the standpoint of spine surgery, the antiviral properties of silicon nitride implants probably have little consequence since viral infections of implanted biomaterials are not a practical problem. On the other hand, systemic viral infections and their spread through contaminated surfaces are a global concern. Drug treatments of established Influenza A infections, such as Tamiflu, are effective only in controlling symptoms by reducing viral load and the virus can still mutate to newly resistant, dangerous strains. The control of viral propagation by surface sanitization is therefore of worldwide interest; witness the hand sanitizers and other protections used commonly during the flu season. Surface sanitization destroys the virus itself, and commonly-used methods rely on ammonia, alcohol, silicon nanoparticles, and certain pH conditions to inactivate virus particles." said Dr. B. Sonny Bal, Chairman and Chief Executive Officer of Amedica Corporation.
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