Monday, 18 November 2024

Healthcare Contract Research Organization Market: The Role Of Technology In Research Efficiency

 The global market for contract research organizations (CROs) was valued at a substantial USD 50.55 billion in 2023. This market is projected to experience significant growth, expanding at a Compound Annual Growth Rate (CAGR) of 7.0% from 2024 to 2030. Several key factors are driving this growth, including increased investment in research and development (R&D) programs, a growing preference for outsourcing activities to mitigate time and cost constraints, and the expiration of patents for blockbuster drugs.

 

CRO collaborations offer a range of advanced services, leading pharmaceutical and biopharmaceutical companies to increasingly favor outsourcing projects to CROs. This trend is further fueled by the mounting pressure on drug developers to adhere to rigorous clinical data management, regulatory environments, and stringent safety standards. Healthcare and pharmaceutical companies are actively outsourcing the production of medicines and their clinical trials. The privatization of clinical trials is also on the rise, contributing to a surge in outsourcing to developing countries.

 

Many CROs are strategically expanding their global research networks to enhance customer service. A notable example is MMS, a CRO specializing in data, which announced a collaboration with the Institute for Advanced Clinical Trials (I-ACT) in February 2023. This partnership aims to accelerate the development of critical therapeutics, such as medications, vaccines, and medical devices, specifically designed for pediatric use. As part of this commitment, MMS is sponsoring I-ACT's Spin Challenge, an initiative dedicated to raising funds to support and expedite clinical trials focused on children's healthcare.

 

Preclinical CRO Market: Analyzing The Impact Of Technology On Research Efficiency- 2030

 The global preclinical CRO market, valued at USD 5.72 billion in 2023, is projected to grow at a CAGR of 8.7% from 2024 to 2030. The increased R&D budget for drug development is driving the rising demand for preclinical contract research organization (CRO) services, fueling market growth. The surge in preclinical trials involving large molecules and the need to reduce R&D expenses are further contributing to the growing demand for quality preclinical CRO services.

 

The rapid pace of preclinical studies for COVID-19 vaccines highlights the crucial role of CROs. Increasing spending on CRO services is expected to significantly boost market growth during the forecast period. The growing demand for drugs post-COVID-19, coupled with significant funding from organizations like the U.S. federal government for R&D of therapeutics and medical devices, is further contributing to market expansion.

 

Gather more insights about the market drivers, restrains and growth of the Preclinical CRO Market 

 

Regional Insights:

 

North America Electric Motor Market Trends

North America accounted for the largest share of 47.2% in 2023 owing to the presence of established CROs specializing in early drug discovery, such as Charles River Laboratories and LabCorp. The U.S. is the biggest market for preclinical trial outsourcing, as several biopharmaceutical companies prefer outsourcing their preclinical trials to CROs based in the U.S., to seek benefit from the Investigational New Drug (IND) application, approved by the FDA.

U.S.

The U.S. accounted for the highest share in the global preclinical trial outsourcing market as a large number of pharmaceutical and life sciences companies are present in this region. CROs in the country possess various capabilities such as genotoxicity and immunotoxicity testing services, which are majorly carried out in the U.S. Along with this, rapid growth in emerging areas of medicine such as personalized medicines, orphan drugs, and biosimilar is expected to propel growth of the preclinical trial outsourcing market in the U.S.

 

Asia Pacific Electric Motor Market Trends

Asia Pacific is also anticipated to grow at the fastest rate of 11.6% during the forecast period. The changing business model of MNC outsourcing and the rising cost of R&D is expected to increase preclinical outsourcing in the Asia Pacific, owing to the cost efficiency offered by CROs in countries such as India and China. Established companies located in Western Europe and the U.S. pursue analytical services, site research development, and clinical activities in the Asia Pacific region in order to reduce the cost associated with research.

Japan

Japan is considered to be one of the largest pharmaceutical markets across the globe. The growing pharmaceutical industry in Japan is contributing to the increasing demand for preclinical trial outsourcing. There has been a significant increase in the number of clinical trials being conducted in the country as the Japanese government is undertaking steps to offer regulatory support and promote clinical trials in the country. This is expected to stimulate the market for preclinical services as preclinical testing requires to be conducted in proximity to central development centers.

India

Preclinical CRO in India:The preclinical CRO market in India has experienced significant growth, driven by its cost advantage, a skilled workforce, and a favorable regulatory environment. Indian CROs offer competitive pricing, attracting international pharmaceutical and biotech companies seeking to outsource preclinical research.

 

Browse through Grand View Research's Category Medical Devices Industry Research Reports.

 

  • The global probe reprocessing market size was valued at USD 844.87 million in 2024 and is anticipated to grow at a CAGR of 10.55 % from 2025 to 2030.

 

Key Companies & Market Share Insights

The preclinical CRO market is diverse, encompassing both large, multinational CROs like Labcorp, Charles River Labs, Eurofins Scientific, and Intertek Group, and smaller, specialized CROs. Market share in this sector is influenced by factors such as the number of players, service portfolio, therapeutic expertise, geographic reach, innovation, investments, and strategic partnerships. For example, Covance, a leading drug development business under Labcorp, offers a comprehensive suite of preclinical services, including pharmacology & safety assessment, vector & cell characterization & qualification, and biodistribution testing & services. These market players often specialize in specific therapeutic areas or emerging fields like immuno-oncology and gene therapy. Their broad geographic reach enables them to provide clients with access to diverse patient populations, regulatory environments, and research expertise. 


Key Preclinical CRO Companies:


• Eurofins Scientific
• PRA Health Sciences, Inc.
• Wuxi AppTec
• Medpace, Inc.
• Charles River Laboratories International, Inc.
• PPD (Thermo Fisher Scientific, Inc.)
• SGA SA
• Intertek Group Plc (IGP)
• LABCORP
• Crown Bioscience

 

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Friday, 15 November 2024

Electrophysiology Devices Market: Innovations Driving Cardiac Care

 The global market for electrophysiology devices was valued at USD 12.9 billion in 2024 and is projected to expand at a Compound Annual Growth Rate (CAGR) of 15.1% from 2025 to 2030.


This growth is driven by several factors:


• Increasing use of EP tests: These tests are crucial for diagnosing and treating heart conditions like atrial fibrillation.

• Rising demand for cardiac rhythm management devices: These devices enable continuous monitoring of heart rhythms.

• Expanding applications in out-of-hospital settings: Electrophysiology devices are increasingly being used outside of traditional hospital settings. 

 

Gather more insights about the market drivers, restrains and growth of the Electrophysiology Devices Market 

 

Additionally, the prevalence of heart conditions among younger generations is on the rise due to lifestyle factors such as sedentary behavior, smoking, and excessive alcohol consumption. For instance, the Centers for Disease Control and Prevention (CDC) estimates that approximately 12.1 million Americans will be affected by atrial fibrillation by 2030.


The growing number of catheter ablation procedures is further fueling market growth. As the number of these procedures increases, so does the demand for related products and devices. Moreover, advancements in electrophysiology devices, such as improved maneuverability, flexibility, compatibility, and integrated imaging capabilities, are contributing to market expansion. An article published by Elsevier Inc. in March 2023 highlighted the significant increase in the annual rate of cardiac electrophysiology procedures in the U.S., from 817.9 per 100,000 beneficiaries in 2013 to 1,089.68 per 100,000 beneficiaries in 2019.

 

Indication Segmentation Insights 

 

Atrial fibrillation (AFib) emerged as the leading segment in the arrhythmia market in 2024, capturing a significant 73.64% revenue share. This type of arrhythmia is widely recognized as the most common, posing a substantial risk of stroke and blood clots. According to the British Heart Association, a staggering 1.5 million individuals in the UK were grappling with AFib in 2022. Alarmingly, an estimated 270,000 people aged 65 and older in the UK remained undiagnosed, contributing to the segment's substantial share.

 

The rising prevalence of AFib has spurred the development of innovative solutions, such as smartphone applications. These apps empower patients to connect with healthcare professionals, facilitating remote monitoring and timely intervention. Additionally, healthcare institutions are increasingly incorporating arrhythmia care into their treatment protocols, both in inpatient and outpatient settings. 

 

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Thursday, 14 November 2024

Vital Signs Monitoring Devices Market: Challenges and Solutions in Healthcare

 The global market for vital signs monitoring devices was valued at a substantial USD 9.2 billion in 2022. This market is projected to experience robust growth, expanding at a Compound Annual Growth Rate (CAGR) of 8.5% from 2023 to 2030. Several key factors are driving this growth, including continuous product innovation, a surge in demand for home healthcare services, a rising number of healthcare settings (particularly hospitals), and the increasing prevalence of chronic disorders.

 

Vital signs monitoring devices have undergone significant evolution, transitioning from individual devices measuring specific parameters like blood pressure, pulse, and temperature to integrated, all-in-one solutions. Moreover, the introduction of innovative products within this category is further fueling market growth.

 

Gather more insights about the market drivers, restrains and growth of the Vital Signs Monitoring Devices Market

  

The COVID-19 pandemic in 2020 accelerated the demand for vital sign monitoring devices, such as blood pressure monitors, pulse oximeters, and temperature monitoring devices. These devices became crucial tools for identifying potential COVID-19 infections by tracking key vital signs. For instance, in the U.S., where approximately 103 million people suffer from hypertension, the demand for blood pressure monitoring devices surged as COVID-19 was recognized as a significant risk for individuals with heart conditions and high blood pressure. This trend is expected to continue, with the "others" product segment in the U.S. market poised for significant growth over the forecast period.

 

End-use Segmentation Insights

 

The hospitals end-use segment accounted for the largest share of 35.4% in 2022. This is primarily due to their large patient pool and greater financing capability for these devices. These devices can now be connected to a comprehensive platform through software, allowing hospital staff to easily monitor patients’ vital signs in a single dashboard. Hospitals require all categories of vital sign monitors in large quantities, as they are needed in each room, nurse’s station, operation theater, emergency room, outpatient clinics, and in the hospital’s ambulatory services.

 

The demand for vital sign monitors in in-home healthcare settings is expected to grow as patients increasingly prefer to receive treatment and recover from surgery at home, or avail long-term care. Home healthcare is often more cost-effective than hospital stays. Additionally, developed regions like the U.S. and U.K. have streamlined policies for reimbursing home healthcare medical devices, including vital sign monitoring devices. With the rising burden of non-communicable diseases (NCDs), the demand for these devices in the home healthcare sector is likely to increase.

 

Order a free sample PDF of the Vital Signs Monitoring Devices Market Intelligence Study, published by Grand View Research.

Tuesday, 12 November 2024

Lactic Acid Market Future Innovations and Strategic Directions Report

The global lactic acid market is poised for significant growth, with an estimated value of USD 3.37 billion in 2023 and a projected CAGR of 8.0% from 2024 to 2030. This growth is primarily driven by the increasing demand for lactic acid in various end-use industries, particularly pharmaceuticals, food, and beverages, especially in emerging economies like India, China, and Indonesia.

 

Lactic acid is a versatile chemical compound with a wide range of applications. One of its primary uses is in the production of polylactic acid (PLA), a biodegradable and compostable polymer derived from renewable sources like fermentation processes. This eco-friendly nature of PLA, coupled with its safety profile as a GRAS substance recognized by the U.S. Food and Drug Administration, makes lactic acid highly attractive for the food industry. 

 

Gather more insights about the market drivers, restrains and growth of the Lactic Acid Market

 

Lactic acid can be produced through either chemical synthesis or fermentation processes. As a well-established organic acid, it finds extensive use across various industries, including food, chemicals, pharmaceuticals, and cosmetics. In the food industry, lactic acid serves as a key ingredient in numerous applications, such as winemaking, pickling, sausage production, fish curing, meat processing, vegetable preparation, baking, and the production of fermented dairy products.

 

Furthermore, lactic acid is associated with beneficial bacteria known as lactic acid bacteria (LAB). These probiotic microorganisms play a crucial role in maintaining gut health and overall well-being. Their presence in various food products contributes to their nutritional value and potential health benefits.

 

Form Segmentation Insights

 

Dry form lactic acid dominated the market in the year 2023. One of the primary drivers aiding the dry lactic acid market growth of is its usage in the formation of polylactic acid (PLA), a biodegradable polymer. PLA is widely used in packaging materials, textiles, and medical applications. Dry form is used in the formation of fermented foods such as sauerkraut, kimchi, and sour beers. It acts as a natural preservative and contributes to the unique flavors and textures of these forms. Dry form of lactic finds application in cosmetics and food & beverages industries.

 

Wet form of lactic acid is a colorless or yellow syrupy liquid with its own distinctive characteristics. It is miscible with water, forming a colorless solution when dissolved. It is used in cosmetics, skincare forms, and hair care formulations due to its exfoliating, moisturizing, and pH-regulating properties. It is also utilized in the flavors and fragrances industry as a souring agent, imparting a tangy flavor to various food and beverage forms. They are primarily used in pharmaceutical, dairy and textile industries.

 

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Transplantation Market: The Role of Stem Cells and Regenerative Medicine

 The global transplantation market, valued at USD 15.0 billion in 2022, is poised for significant growth, projected to expand at a CAGR of 9.3% from 2023 to 2030. This growth is primarily driven by the increasing demand for innovative tissue transplantation products and organ transplantation procedures to address organ failure.

 

Organ failure, a serious medical condition, can arise from various factors including severe trauma, blood loss, poisoning, substance abuse, leukemia, sepsis, and other acute illnesses. The global demand for tissue and organ transplants, particularly kidneys, hearts, livers, and lungs, is substantial. Unhealthy lifestyle choices such as poor diet, excessive alcohol consumption, sedentary lifestyle, and drug abuse are major contributors to organ failure, further fueling the demand for transplantation products.

 

Post-transplantation surgery, recipients are often administered potent immunosuppressive drugs to prevent organ rejection. However, these medications weaken the immune system, rendering patients more vulnerable to infectious diseases. This heightened susceptibility, coupled with the challenges posed by the COVID-19 pandemic, has led to a decline in transplantation numbers in many countries. Additionally, the scarcity of essential resources like personal protective equipment, intensive care unit capacity, and blood products during the pandemic has further contributed to the market's revenue decline in 2020.

 

Gather more insights about the market drivers, restrains and growth of the Transplantation Market

 

Application Segmentation Insights

 

Tissue transplantation remains the dominant segment in the market, accounting for a substantial $79.2 billion in 2022. This prominence stems from the widespread need for replacing vital tissues such as skin, cornea, bones, heart valves, tendons, nerves, and veins. The escalating incidence of burn injuries and accidents globally is a major driver for the increasing demand for tissue products. For example, a report by the European Road Safety Observatory highlights the significant number of injury accidents in Spain, further emphasizing the need for tissue transplantation.

 

The organ transplantation segment is poised for robust growth during the forecast period. The rising number of organ transplant procedures worldwide, coupled with the recurring need for immunosuppressants, is expected to fuel market expansion. In 2017 alone, approximately 90,306 kidney transplant procedures were performed globally, underscoring the substantial demand.

 

Advancements in transplantation technology and the introduction of innovative products by manufacturers are further propelling the growth of the transplant market. This includes procedures for organs like kidneys, livers, hearts, lungs, and tissues. For instance, in November 2020, Lupin's launch of the generic immunosuppressant drug Tacrolimus in the U.S. market, indicated for preventing organ rejection in various transplant scenarios, exemplifies the ongoing innovation in this field.

 

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Sunday, 10 November 2024

U.S. Peripheral Nerve Injuries Market: Patient Demographics and Treatment Awareness

The U.S. peripheral nerve injuries market is experiencing significant growth, projected to reach a value of USD 406.23 million in 2022 and expand at a CAGR of 7.32% from 2023 to 2030. This growth is primarily driven by several factors:

 

  • Aging Population: The increasing number of elderly individuals, who are more susceptible to peripheral nerve injuries, is a major contributor to market growth.
  • Rising Demand for Minimally Invasive Procedures: The preference for less invasive treatments is driving the adoption of advanced surgical techniques and tools.
  • Technological Advancements: Continuous innovation in surgical techniques and tools is enhancing the treatment of peripheral nerve injuries.
  • Growing Awareness: Increased awareness among healthcare professionals and patients regarding peripheral nerve injuries and their treatment options is fueling market demand.

 

Furthermore, significant funding from both public and private organizations is accelerating market growth. For example, Renerva, LLC, received USD 500,000 from the NIH and NSF to develop innovative techniques for peripheral nerve injuries, while NervGen Pharma Corp. was awarded USD 1.5 million from the Department of Defense to evaluate NVR-291-R for enhanced nerve repair.

 

Gather more insights about the market drivers, restrains and growth of the U.S. Peripheral Nerve Injuries Market

 

Surgery Segmentation Insights

 

Based on surgery, direct nerve repair captured the largest market share of 42.67% in 2022. Direct nerve repair, also known as end-to-end neurorrhaphy, is considered the gold standard of surgical treatment for severe cases. These injuries result in a loss of communication ability due to malfunctioning motor and sensory nerves between peripheral organs and the central nervous system (CNS), leading to impairment. Direct nerve repair and autologous nerve grafts remain the gold-standard treatment options. While nerve conduits successfully provide ideal peripheral support for neuronal recovery, they are still insufficient. Additionally, the increasing number of traumatic accidents leading to peripheral nerve injuries may necessitate surgical intervention, further propelling segment growth.

 

However, the stem cell therapy segment is projected to expand at the fastest CAGR during the forecast period. Increased government initiatives and approvals for clinical trials are anticipated to fuel market growth. Approximately 2,754 clinics in the U.S. (as of 2021) offer stem cell therapy, and this number is likely to increase. A single stem cell injection can cost between USD 8,000 and 30,000. Although many of these clinics do not adhere to FDA regulations, stem cell therapy has demonstrated effectiveness in treating various conditions. The FDA has recommended stricter regulations for these cells due to safety concerns, which may lead to more stringent approval procedures for clinics in the future. These factors are expected to drive significant growth in the stem cell therapy segment.  

 

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