Tuesday, December 12, 2017

Russia International Remittance Market is expected to Register Transaction volume of USD 67.9 billion by 2021: Ken Research

Russia International Remittance Market by Inbound and Outbound Remittance, by Major Flow Corridors (CIS and Non-CIS Countries), by Mode of Transfer (Cash and Electronic Transfer) and by Channel (Banks and MTOs), Russia Domestic Remittance Market by Region (Central Russian Federal District, Volga Federal District, North-Western Federal District and Others) and by Channel (Bank and Non-Bank), Russia Bill Payment Market by Recurring and Non-Recurring Bills, by Type of Payment (Groceries, Utilities, Fuel, Mobile Recharge and DTH & Broadband), by Mode of Payment (Cash, Debit/Credit/E-Wallets and Electronic Transfer) and by Offline and Online Bill Payment.
The growing number of migrants from the different CIS and Non-CIS countries around the world will support the overall growth of the international remittance market.
The infrastructural and communicational growth initiatives by the Government of Russia will uplift the remittance market and will attract additional migrants to Russia which will lead to the growth in the domestic remittance and bill payment market.
Increase in number of smartphone users and internet penetration will act as catalysts for the growth of the remittance and bill payment overall industry.
The overall remittance market of Russia is expected to grow hand in hand with the revival of the global economy from the economic crises. The number of migrants from the CIS and the non-CIS countries are expected to grow considerably. This will increase the remittance outflow of the country in the coming years. The expanding size of the market will attract more players of the industry into Russia with tailored remittance and bill payment digital services. Companies like KoroanPay, Contact, Western Union, Moneygram and UniStream are the major players of the market and are expected to augment their network into the rural market. These factors collectively are expected to trigger the growth of the international outbound remittance market in Russia. The government envisions tightening the Anti-Money Laundering Law with the sight to reduce tax evasion by making the country a cashless economy and considers the digital remittance and bill payment industry as an ally of the government in achieving this objective. Russia will host many sporting events in the future including FIFA World Cup 2018, ISU European Skating Championship 2018, Universaide 2019 and UEFA European Championship 2020. The infrastructural and communication sector growth will lead to increase in job opportunities and will be the main trigger for internal migration in the country. This trend of migration to major cities in Russia will be the driver for growth in the domestic remittance and the bill payment industry. The increase in number of households, number of smartphone users, internet usage, DTH connections and utility bills will continue to augment the bill payment market.
Ken Research in its latest study, “Russia Remittance and Bill Payments Market by Inbound and Outbound International Remittance, By Mode of Transfer (Cash or Electronic Transfers), By Channel (Bank and Non-Bank) - Outlook to 2021” analyzed that the companies can encourage their customers to use digital modes of transfers to reduce the float time. Both the remittance and bill payment companies can focus on mobile transfers to withstand the competition in the market. Moreover, the companies can offer door to door pickup, innovative discount schemes and after transfer confirmation service which will aid in increasing their customer base.
The Russia Remittance Market is estimated to register a positive CAGR during 2017-2021. Future growth in the migrant population, rising number of mobile phone and internet users are expected to be key drivers of growth in the market.
The report provides information on the remittance channels, mode of transfer, type and remittance corridors which dominates the market in terms of transaction volume. It also covers the company profiles of the major players (i.e. KoronaPay, UniStream, Western Union and MoneyGram), banks (Sberbank, VTB Bank, Gazprom Bank and Alfa Bank), major e-wallets (i.e. Yandex, Webmoney, Paypal and Visa Qiwi) and Russian Post.
Key Topics Covered in the Report:
Russia Remittance and Bill Payments Market Overview and Genesis
Value Chain Analysis in Russia Remittance Market
Russia International Remittance Market Size
Russia International Remittance Market Segmentation
Future Outlook and Projections of Russia International Remittance Market
Russia Domestic Remittance Market Size
Russia Domestic Remittance Market Segmentation
Future Outlook and Projections of Russia Domestic Remittance Market
Russia Bill Payments Market Size
Russia Bill Payments Market Segmentation
Future Outlook and Projections of Russia Bill Payments Market
Trends and Developments in Russia Remittance and Bill Payments Market
Issues and Challenges in Russia Remittance and Bill Payments Market
SWOT Analysis of Russia Remittance and Bill Payments Market
Competitive Landscape of Major Players in Russia Remittance and Bill Payments Market
Macroeconomic Factors affecting Russia Remittance and Bill Payments Market
For more information on the market research report please refer to the below link:
Related Reports by Ken Research
Contact:         
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
Posted by at 1 comment:
Labels: , , , , ,

Monday, December 11, 2017

Russia Remittance and Bill Payments Market is Expected to be Led by Rising Migration, Growing Internet Penetration and industrial Growth: Ken Research

Increase in the number of immigrants, industrial growth, and growing mobile application based payments were the key factors driving growth in the remittance and bill payments market in Russia.      
Russia is one of the most preferred migrant destinations in the world. In 2016 it was the 3td largest country in the world in the list of remittance sending countries. International migration to Russia is very high because of which the market is dominated by outflow of remittance funds. The migrants migrate to Russia in search of better job opportunities with high salaries and an improved standard of living. The migrants in Russia belong to both CIS as well as Non-CIS countries. The outflow to CIS countries is dominated by Uzbekistan and the outflow to non-CIS is dominated by Switzerland. The inflow of funds is dominated by the Kazakhstan owing to the large base of Kazakhstani students in Russia. The country has a large portion of population living in rural areas. People in search of better job opportunities and higher education migrate to developed cities such as Moscow, Saint Petersburg and Novosibirsk results in substantial rise domestic remittance in the country. The mushrooming migrant population in cities has also led to an increase in the households which resulted to an overall increase in use of groceries, utilities such as electricity and water. This increase has sustained the healthy growth of the bill payment market. In the past few years, the Russian currency has weakened against USD and the fall in oil prices has disturbed the growth of the remittance industry in Russia. The existence of a large number of unlicensed MTOs and a large percentage of unbanked population are some of the major concerns for the remittance and bill payment market.
The bill payments market in Russia includes the payments made for all the groceries, utilities consumed in the country by both immigrants and citizens in the country. The market grew at a CAGR of ~% during 2011-2016. The bill payment transaction volume has grown on the back of rising utility consumption and growing number of immigrants. Furthermore, rising consumption of electricity and water has led the government to cut the subsidies on these utilities for the citizens and to raise its cost for immigrants.
The report titled “Russia Remittance and Bill Payments Market by Inbound and Outbound International Remittance, By Mode of Transfer (Cash or Electronic Transfers), By Channel (Bank and Non-Bank) - Outlook to 2021” by Ken Research suggested a positive CAGR in terms of transaction volume in the remittance and bill payments market for the next 5 years till 2021.
Key Topics Covered in the Report:
Money Transfer Channel in Russia
Russia Vtb Bank Remittance Transactions
Money Transfer Data Russia
Internal Migration in Russia
Money Transfer Within Russia
Inmigrant Data Russia
E-Wallet Market in Russia
For more information on the market research report please refer to the below link:
Related Reports by Ken Research
Contact:         
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
Posted by at No comments:
Labels: , , , , , ,

What is the Scenario of Global Robotic Surgery market?

Rise in need for faster recovery, reduced pain and discomfort has led to growth of global robotic surgery market in the past few years. Owing to rising adoption of minimally invasive surgeries, the market for global robotic surgery grew at a healthy CAGR of ~% during 2012-2017 from USD ~ million in 2012 to ~ million in 2017. During the concerned period, market grew predominantly due to increase in sales of da Vinci systems across the world and surgical procedures performed by them. The number of installed da Vinci systems grew from ~ in 2012 to ~ in 2017 and the number of surgical procedures conducted inclined from 359,000 in 2011 to 753,000 in 2016.

The market growth was also aided due to the commercial launch of several new systems in the US and/or Europe and other territories. Some of the surgical robots approved and commercially launched included MAKO, OMNIBotics, ARTAS, ROSA, NAVIO, TSoultion One, Neuromate,

Mazor X and Renaissance for a variety of indication such as spine and brain surgeries, total/partial knee and total hip arthroplasty and hair transplant. Over ~ spine and brain surgeries and more than ~ total/partial knee and total hip replacement procedures were performed using surgical robots in 2017.

International expansion has been slow over the past decade due to the fact that the majority of these companies are US based. Most companies have been focused on gaining regulatory approvals from the FDA and subsequently market the product aggressively before launching the systems elsewhere in the world. The process of individually gaining approval in various countries has slowed the growth of the entire surgical robotics industry. Additionally, all robotics companies face the challenge of convincing hospitals to purchase systems that are usually priced in excess of USD 1 million.

Which Segments are doing Well in Global Robotic Surgery Market?
North America accounted for the highest market share (~ %) in 2017, in terms of revenue. This was primarily due to high standards of healthcare infrastructure, high patient awareness levels and high healthcare expenditure by consumer and government as compared to other regions of the world.

Over ~ % of the North American revenue was due to high adoption of robotic surgery systems in the US. The US market for surgical robotics has been driven by the financial capability of hospitals to invest in these systems, strategic collaboration with insurance players, rising patient acceptance owing to superior post-operative outcomes, and general awareness about computer-assisted surgeries.

Of the 3,919 da Vinci systems installed worldwide, 2,563 of them were installed in the US alone. Europe, Asia-Pacific and Rest of the World (ROW) comprised for ~ %, ~ % and ~ % market share as of 2017, respectively.

Snapshot on Us Robotic Surgery Market
The US accounted for more than ~% of the overall robotic surgery market in 2017, in terms of revenue. Hence, the US robotic surgery market stood at over USD ~ billion in 2017. High healthcare standards, financial capability of hospitals to invest in these systems, strategic collaboration with insurance players, rising patient acceptance owing to superior post-operative outcomes, and general awareness about computer-assisted surgeries have led to high adoption of robot-assisted surgeries in the US.

The US is at the forefront of medical research and is more often the first country to adopt new, innovative surgical robots for a variety of indications. Although robot-assisted surgeries are expensive, insurers pay no more for surgeries that utilize robotic systems than for other types of minimally-invasive procedures, such as laparoscopy. Higher treatment cost with surgical robots has resulted in slower adoption of robotic surgeries amongst the citizens of the US.

Major Companies:
A vast majority of the companies developing and marketing surgical robots are based out of the US. This includes the market leader Intuitive Surgical, which generated about ~% of its entire annual revenues from the US itself in 2016. Several other major players in this sector such as Accuray, Stryker, Zimmer Biomet, OMNIlife Science, Think Surgical, Restoration Robotics, Medrobotics, TransEnterix and Auris Surgical are based in the US. Even those companies which are not based out of the US, sale of robotic systems in the US contributed for a fair portion of their overall annual revenues.

In terms of product development, US based medical device companies clearly dominated over others in developing surgical robots indicated for radio surgery, hair transplant and soft tissue surgeries involved in urology, gynecology, cardiothoracic and general surgical procedures.

Market Potential:
At present, the US is currently experiencing a severe shortage of general surgeons. The number of total active physicians in all specialties rose less than 2% annually to 860,939 in 2015 from 799,501 in 2010, according to the AAMC’s (Association of American Medical Colleges) 2016 Physician Specialty Data Report. The US will face a shortage of between 61,700 and 94,700 doctors by 2025, according to AAMC.

As of 2016, only ~% of the ~ million applicable soft tissue surgeries were performed using robotic surgical technology.

Da Vinci system for soft tissue surgeries were installed in about ~ US hospitals, with potential to be installed in over ~ more hospitals and ~ ambulatory surgical centers.

The number of total hip replacement procedures in the US was approximately ~ each year, and is expected to increase threefold by 2030.

The demand for total-knee replacements is expected to increase more than six fold by 2030 from current ~ each year.

Within five years, ~ of all surgeries in the US, more than double the current levels, are expected to be performed with robotic systems.

Source:https://www.kenresearch.com/healthcare/medical-devices/global-robotic-surgery-market/142287-91.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-1244230204
Posted by at No comments:
Labels: , , , ,

Russia Remittance and Bill Payments Market Outlook to 2021: Ken Research

The report titled “Russia Remittance and Bill Payments Market by Inbound and Outbound International Remittance, By Mode of Transfer (Cash or Electronic Transfers), By Channel (Bank and Non-Bank) - Outlook to 2021” provides a comprehensive analysis of remittance and bill payments market in Russia. The report covers market size, segmentation on the basis of inbound & outbound remittance, remittance channel, mode of transfer and remittance corridor for international remittance market. For domestic remittance market, the report covers market size, segmentation on the basis of region and major remittance channel. It also includes the bill payments market in the country covering the market size and segmentation of market by type of bills, channel of bill payment and bill payment methods. The report also covers government regulations in the market, competitive landscape and company profiles for major players in the remittance and bill payments market. The report provides detailed overview on future outlook & projections with analyst recommendations for the industry.
The report facilitate the reader with the identification and in-depth analysis of the existing and future trends, issues and challenges prevalent in the industry and anticipated growth in the future depending upon changing industry dynamics in coming years. The report is useful for exchange houses, banks, bill payment portals and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Industry Overview
The Russian Remittance Market is dominated by the International Remittance. The international remittance holds a major share of the market and was about ~% of the total market in 2016 in terms of transaction volume. The major sources of remittance in Russia include the CIS countries (i.e. Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan and others) and the Non-CIS countries (i.e. Switzerland, China, USA and others. Growing number of migrants domestically and from the other countries (CIS & Non-CIS) serve as a fueling factor to the Russia Remittance Industry. The availability of jobs and migration has collectively stimulated growth of the international as well as domestic remittance industry. The growth in the industrial and communication sectors have substantially given rise to the job opportunities in the country. In the past few years the growth of the bill payment market has been over ~% in Russia. The rapid increase in the number of households, number of smartphone subscribers and internet users together with availability for small sector jobs on account of the upcoming events like FIFA World Cup in 2018 have attributed as the leading factors for the growth Bill Payment Market.
Market Segmentation of Russia Remittance and Bill Payments Market
International Remittance Market
International Remittance Market in Russia is segmented on the basis inbound outbound remittance, resident and non-resident individuals, channel of transfer, mode of transfer and remittance corridors. International remittance in Russia is largely dominated by the remittance outflow to other counties. Outflow of remittance from other countries has contributed a share of ~% in the overall revenues of the industry
In terms of remittance outflow, the market is dominated by banking channels that account for a share of ~% in 2016. Cash transfers as a mode of transfer dominate the market with a share of ~% in 2016 in the remittance outflow. Russia-Switzerland represents the major international remittance corridor for the outflow, while the Switzerland-Russia is the major corridor for the inflow of remittance in Russia. In terms of flow corridors the market is dominated by the remittance flows to the Non-CIS countries with a share of ~% in the year 2016.
Domestic Remittance and Bill Payments Market
Domestic Remittance Market in Russia is segmented on the basis of flow corridors and remittance channel. Internal migration is the key driver for domestic remittance in the country. The main reasons for people to migrate from rural areas are better paying jobs, better standards of living and higher education. In the year 2016 Central Russian Federal District has dominated the regional remittance market. As of 2016, the market is dominated by non-bank institutions that include payment cards, Russian Post, e-wallets/mobile money and money transfer operators with a share of ~% followed by the banking channels. Bill payments market is dominated by the grocery bills that held a share of ~% in 2016 followed by utility bills, fuel bills, mobile recharges and broadband and DTH payments.
Competitive Landscape
International remittance market is a highly competitive market. In Russia international remittances are carried out through Banks and MTOs. Non-Bank including MTOS and exchange houses have the major share in the transfer services. There are five major MTOs that hold more than ~% share in the market. These MTOs are competing on the basis of the transaction fees charged, volume of transaction, number of branches, services offered and others. The MTOs in the country include KoronaPay, Western Union, MoneyGram, UniStream and others. Domestic remittance in the country is also dominated by these non-bank institutions as a mode of preferred channel. ~% of the domestic remittance market is shared by a number of non-bank financial organizations and companies. These organizations compete with each other on the basis of penetration in rural areas, interconnectivity, fee charged, security of transaction made and other aspects.
Future Potential of Russia Remittance and Bill Payments Market
The Russia remittance and bill payments market has witnessed a growth at a decreasing rate in past five years and the market is anticipated to grow at a CAGR of ~% during the forecast period, 2017-2021. The growth in the market during the forecast period can be attributed to factors such as rising number of international and domestic migrants, more employment opportunities in the major cities which and increasing use of mobile and internet in the country.
Key Topics Covered in the Report:
Russia Remittance and Bill Payments Market Overview and Genesis
Value Chain Analysis in Russia Remittance Market
Russia International Remittance Market Size
Russia International Remittance Market Segmentation
Future Outlook and Projections of Russia International Remittance Market
Russia Domestic Remittance Market Size
Russia Domestic Remittance Market Segmentation
Future Outlook and Projections of Russia Domestic Remittance Market
Russia Bill Payments Market Size
Russia Bill Payments Market Segmentation
Future Outlook and Projections of Russia Bill Payments Market
Trends and Developments in Russia Remittance and Bill Payments Market
Issues and Challenges in Russia Remittance and Bill Payments Market
SWOT Analysis of Russia Remittance and Bill Payments Market
Competitive Landscape of Major Players in Russia Remittance and Bill Payments Market
Macroeconomic Factors affecting Russia Remittance and Bill Payments Market
For more information on the market research report please refer to the below link:
Related Reports by Ken Research
Contact:         
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
Posted by at 1 comment:
Labels: , , , , , ,
Subscribe to: Posts (Atom)