Ventricular Assist Device Market Report by Geriatric Population Suffering From The Disorders Till 2028

  

Ventricular Assist Device Industry Overview

 

The global ventricular assist device market size was valued at USD 1.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2021 to 2028.

 

Some of the major factors anticipated to drive the demand for Ventricular Assist Devices (VADs) include the growing global geriatric population suffering from the rising prevalence of chronic disorders like diabetes, neurological disorders, cardiovascular diseases, hypertension, and stroke. Rapid globalization coupled with the pursual of unhealthy lifestyles in both developed and developing nations are contributing to the growing risk of chronic ailments. The growing prevalence of cardiovascular diseases is, in turn, expected to drive the demand for ventricular assist devices. Moreover, these diseases increase the risk of organ failure and due to the deficiency of organ donors and delay in organ transplantations, the demand for VADs is expected to rise over the forthcoming years.

 

The surge in the prevalence of chronic conditions and decline in organ transplantations is one of the key factors responsible for the growth of the market for VAD. In addition, the rapid growth in the geriatric population and increasing natality are key impact-rendering drivers for the market over the forecast period. The market for VAD is constantly evolving, and the key players are investing in product innovation and development. Technological advancements coupled with timely regulatory approvals, in the form of small-size devices with features like infection control are expected to drive the market for VAD. In June 2020 Berlin Heart announced the completion of the requirement for the Post Market Approval (PMA) by the U.S. FDA in June 2017 for EXCOR Pediatric VAD. In addition, benefits associated with the adoption of VADs include improved abidance rate, functionality, and durability enhance the product adoption rate and thereby, support market growth.

 

Gather more insights about the market drivers, restrains and growth of the Global Ventricular Assist Device Market

 

The rising prevalence of cardiovascular diseases and increasing risks of organ failures is supporting the growth in organ transplant demand. The shortage of organ donors delays the organ transplantation procedure. As per United Network for Organ Sharing, nearly 121,016 people need organ transplantation and approximately 77,725 people are on the active waiting list. According to Organ Procurement and Transplantation Network, 3,582 candidates are registered on the waiting list for heart transplants as of June 2020. The rapidly growing patient pool suffering from irreversible end-stage heart failure and waiting for heart transplantation have led to an increase in demand for ventricular assist devices due to a shortage of donor organs. As per estimates, 20 million Americans and Europeans suffer from degenerative cardiac illnesses and most of them are on the waiting list for a heart transplant. The abovementioned factors are accelerating the growth of the market for VAD. Furthermore, VAD procedures have proven improved results and have increased applicability and durability associated with left ventricular assist devices (LVAD) have enhanced treatment options for end-stage heart failure.

 

Advancements in the novel VADs for surgical interventions, especially in the pediatric patient population suffering from cardiac disorders are expected to boost the demand for these. For instance, the U.S. FDA graded the continuous-flow LVADs, Micromed HeartAssist 5TM Pediatric VAD, and the Berlin HeartTM EXCOR pediatric VAD for pediatric patients. Berlin HeartTM EXCOR is approved for use as a bridge-to-transplantation device since 2011.

 

Treatment options available for bi-ventricle failure due to end-stage heart failure are bi-ventricular assist devices or total artificial heart. The total artificial heart (TAH) is an automatic device replacing the ventricles, is recommended in end-stage heart failure patients. The benefits associated with total artificial heart are blood flow restoration, increased survival, and improved quality of life. The growing VAD market is receiving recognition in the form of investments by private equity firms and venture capitalists to promote product development. For instance, in January 2021, CorWave raised USD 40.0 million in a Series C funding round led by three new investors and returning investors, including Novo Holdings, Bpifrance, Sofinnova Partners, Seventure, Ysios Capital, European Commission, the Singaporean family office M&L Healthcare, and Financière Arbevel for its implantable heart pump based on a novel technology, the wave membrane pump.

 

The ongoing Covid-19 pandemic has negatively impacted the market for VAD with the temporary lockdowns and travel restrictions imposed by the government which led to a decline in the number of surgical procedures. For instance, ABIOMED Impella heart pump's global revenue was impacted in Q4 of FY2020 owing to lower patient utilization and the significant impact of the COVID-19 pandemic on surgeries, elective medical procedures, and fewer patients seeking treatment at hospitals. The continuous strain of the pandemic caused deferrals of elective surgical interventions and negatively impacted the growth of the market for VAD by decreasing the product demand.

 

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• External Ventricular Drain Market - The global external ventricular drain market size was valued at USD 5.3 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 7.6% from 2020 to 2027. Rising incidence of neurological disorders and increasing road accidents which results in traumatic brain injuries are major factors driving the market for external ventricular drains. In addition, increasing research activities and rising adoption of technologically advanced products are few other factors contributing towards market growth.    
• Bathroom and Toilet Assist Devices Market - The global bathroom and toilet assist devices market size was valued at USD 3.5 billion in 2016, exhibiting a CAGR of 6.2% during the forecast period. Growth in the prevalence of chronic diseases, coupled with an aging population, is resulting in a rise in population with disabilities. 

 

Ventricular Assist Device Market Segmentation

 

Grand View Research, Inc. has segmented the global ventricular assist device market report on the basis of product, type of flow, design, application, and region:

• Ventricular Assist Device Product Outlook (Revenue, USD Million, 2016 - 2028)
• Left Ventricular Assist Device
• Right Ventricular Assist Device
• Bi-Ventricular Assist Device
• Total Artificial Heart
• Ventricular Assist Device Type Of Flow Outlook (Revenue, USD Million, 2016 - 2028)
• Pulsatile Flow
• Continuous Flow
•  Ventricular Assist Device Application Outlook (Revenue, USD Million, 2016 - 2028)
• Bridge to Transplant
• Destination Therapy
• Others (Bridge to Recovery, Bridge to Candidacy, and Others)
•  Ventricular Assist Device Design Outlook (Revenue, USD Million, 2016 - 2028)
• Implantable Ventricular Assist Device
• Transcutaneous Ventricular Assist Device
•  Ventricular Assist Device Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

 

Market Share Insights

• January 2021: CorWave raised USD 40.0 million in a Series C funding round led by three new investors and returning investors, including Novo Holdings, Bpifrance, Sofinnova Partners, Seventure, Ysios Capital, European Commission, the Singaporean family office M&L Healthcare, and Financière Arbevel for its implantable heart pump based on a novel technology, the wave membrane pump.
• June 2020: Company received the FDA approval for its First-in-Human Trial of Impella ECP, which will be studied in high-risk percutaneous coronary intervention patients.

 

Key Companies profiled:

Some of the prominent players in the ventricular assist device (VAD) market include:

• Abiomed
• Medtronic
• Abbott
• Berlin Heart
• Cardiac Assist, Inc.
• Jarvik Heart, Inc.
• ReliantHeart, Inc.
• Sun Medical Technology Research Corp

 

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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Viscosupplementation Market Is Expected To Rise As Of Increasing Demand For Non-Surgical Treatments For Osteoarthritis

Viscosupplementation Industry Overview

 

The global viscosupplementation market size was valued at USD 3.76 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.37% from 2021 to 2028.

 

The increasing demand for non-surgical treatments for osteoarthritis, the prevalence of lifestyle-induced disorders, and advancements in the development of hyaluronic acid-based therapies are some of the factors expected to drive the market. Viscosupplements available in the market have shown clinical efficacy and are proven to be the most effective treatment for knee osteoarthritis. Osteoarthritis is a chronic painful degenerative joint disease and is the leading cause of chronic disability. The onset of the condition is mostly after 30 years of age, which may progress to develop into a disability after 10 years of diagnosis.

 

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

 

Estimates published by the WHO suggest that the global population aged 65 years and over is projected to increase from 7% in 2000 to 16% in 2050, which, in turn, will lead to a rise in the incidence of obesity and osteoarthritis. Thus, the global increase in the target population along with a growing preference for alternative treatment options for corticosteroid for joint pain management is expected to significantly propel the product demand during the forecast period.

 

The reimbursement scenario is likely to become favorable globally making treatment for osteoarthritis affordable. In the U.S., products, such as Orthovisc, Supartz Hyalgan, Synvisc, and others, are approved by the FDA as Class III medical devices to treat OA knee pain and are reimbursed by Medicaid, Medicare, and other state healthcare programs. France also has a well-defined reimbursement policy for viscosupplements. In France, out of the 13 products available for the treatment of knee osteoarthritis, 12 are reimbursed up to 65% by Social Security. Thus, favorable reimbursement policies with respect to the geriatric population are expected to offer growth opportunities to the key players.

 

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• Orthopedic Regenerative Surgical Products Market - The global orthopedic regenerative surgical products market size was valued at USD 4.0 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 3.9% from 2022 to 2030. Growing technological advancements, the prevalence of arthritis and other orthopedic conditions, orthopedic surgeries, and R&D activities are some of the key drivers of this market. 
• Ambulatory Surgery Center Market - The global ambulatory surgery center market size was valued at USD 75.2 billion in 2018 and is estimated to register a CAGR of 6.1% over the forecast period. Increasing demand for minimally invasive surgeries, technological developments in surgical devices and equipment, and surgeons’ control over the choice of such equipment are some of the factors responsible for ASC market growth.

 

Viscosupplementation Market Segmentation

Grand View Research has segmented the global viscosupplementation market report on the basis of product, end-use, and region:

• Viscosupplementation Product Outlook (Revenue, USD Million, 2016 - 2028)
• Single Injection
• Three Injection
• Five Injection
• Viscosupplementation End-use Outlook (Revenue, USD Million, 2016 - 2028)
• Hospitals
• Orthopedic Clinics/Ambulatory Surgical Centers (ASCs)
• Viscosupplementation Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Market Share Insights

• June 2019: Anika Therapeutics, Inc. showcased its new product Hyalofast, a hyaluronic acid-based scaffold for the repair of cartilages at International Cartilage Regeneration and Joint Preservation Society (ICRS).
• April 2018: Bone Therapeutics S.A. completed clinical trials for its product JTA-004 intra-articular injection for knee OA.
• January 2018: OrthogenRx launched TriVisc in the U.S. Demand for single injection products is expected to witness a rise during the forecast period due to a shorter regimen, reduced hospital visits, and fewer adverse effects and associated pain. 

Key Companies profiled:

Some of the prominent players in the global viscosupplementation market include:

• Sanofi
• Anika Therapeutics, Inc.
• Seikagaku Corp.
• Zimmer Biomet
• Smith & Nephew PLC
• Ferring Pharmaceuticals B.V.
• Lifecore Biomedical
• LG Life Sciences Ltd.
• Fidia Farmaceutici S.p.A
• F.Hoffmann-La Roche Ltd.

 

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Bone Grafts And Substitutes Market Is Expected Due To The Rising Incidence Of Bone And Joint Disorders Till 2030

 Bone Grafts And Substitutes Industry Overview

 

The global bone grafts and substitutes market size was valued at USD 2.91 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030.

 

One of the key factors fueling the growth of the market is the rising incidence of bone and joint disorders. According to the CDC report, the global incidence rate of hip fracture is expected to rise by 240% in women and 310% in men. Osteoporosis is estimated to affect around 200 million women worldwide. Moreover, the rising demand for dental bone grafts is expected to drive the market for bone grafts and substitutes over the forecast period.

 

Gather more insights about the market drivers, restrains and growth of the Global Bone Grafts And Substitutes Market

 

Bone grafts are widely adopted for orthopedic surgeries. These surgeries are classified as elective surgeries and most of the elective surgeries were postponed or canceled during the COVID-19 pandemic. This resulted in drastically decreasing demand for devices required for orthopedic surgeries, including bone graft and substitutes. Furthermore, extended factory closures by market players in various nations slowed down the production of the devices. However, since the last quarter of 2020, the infection rate is expected to decline, which will slowly restore the production cycles, hence increasing the production of bone grafts and substitutes.

 

Additionally, many countries have started to ease their lockdown by lifting certain restrictions related to healthcare facilities. This is expected to boost the demand for orthopedic surgeries, hence restoring the growth of the market. The launch of biocompatible synthetic grafts is also expected to fuel the growth of the market. Market players are investing in the development of such grafts to gain a stronger foothold. For instance, in October 2019, McGill University developed a biocompatible and toughened multilayered bone graft for the treatment of large bone defects, which was anticipated to provide a competitive edge over other players in the market.

 

Moreover, rising requirements for dental bone grafts and technological advancements are boosting the market growth. Minim Invasive Surg in 2018, stated that minimally invasive procedures are being adopted for the treatment of a varied range of bone disorders in the year. It also stated that about 400,000 spinal fusion cases were done in the U.S. annually. Such factors are likely to positively impact the market growth in the years to come. Moreover, increasing demand for developing biocompatible bone grafts to reduce adverse reactions is fueling market growth. Various players in the industry are continuously making investments for the development of new products with better bioactivity, biocompatibility, and suitable mechanical properties.

 

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• Orthopedic Navigation Systems Market - The global orthopedic navigation systems market size was valued at USD 1.97 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.4% over the forecast period. Rising geriatric population & cases of joint reconstruction, growing healthcare expenditure, and high awareness levels among patients & healthcare professionals are expected to drive the market growth over the forecast years.
• Orthopedic Regenerative Surgical Products Market - The global orthopedic regenerative surgical products market size was valued at USD 4.0 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 3.9% from 2022 to 2030. Growing technological advancements, the prevalence of arthritis and other orthopedic conditions, orthopedic surgeries, and R&D activities are some of the key drivers of this market. 

 

Bone Grafts And Substitutes Market Segmentation

 

Grand View Research has segmented the global bone grafts and substitutes market report on the basis of material type, application, and region:

 

• Bone Grafts And Substitutes Material Type Outlook (Revenue, USD Million, 2017 - 2030)
  • Allograft
    • Demineralized Bone Matrix
    • Others
  • Synthetic
    • Ceramics
      • HAP
      • β-TCP
      • α-TCP
      • Bi-phasic Calcium Phosphates (BCP)
      • Others
    • Composites
    • Polymers
    • Bone Morphogenic Proteins (BMP)
  • Bone Grafts And Substitutes Application Outlook (Revenue, USD Million, 2017 - 2030)
    • Craniomaxillofacial
    • Dental
    • Foot & Ankle
    • Joint Reconstruction
    • Long Bone
    • Spinal Fusion
  • Bone Grafts And Substitutes Regional Outlook (Revenue, USD Million, 2017 - 2030)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa (MEA)

 

Market Share Insights

• April 2021: Azienda Ospedaliero-Universitaria Consorziale Policlinico in Italy completed a study on Platelet Rich Plasma (PRP) Injections for knee osteoarthritis in adults aged between 40 to 81 years.
• March 2021: Data provided by the CMS, there are about 817 Medicare-certified ASCs in California, 187 in Washington, 457 in Florida, 442 in Texas, and 368 in Georgia.
• November 2020: Amniox Medical released the results from a retrospective study, wherein amniotic membrane/umbilical cord particulate were found to significantly delay Total Knee Arthroplasty (TKA) in moderate to severe knee osteoarthritis patients. 

 

Key Companies profiled:

 

Some prominent players in the global bone grafts and substitutes market include:

• AlloSource
• DePuySynthes, Inc.
• Baxter
• Nuvasive, Inc.
• Smith & Nephew
• Medtronic
• Orthofix Holdings, Inc.
• TBF Tissue Engineering
• OST Devloppement
• Zimmer Biomet
• Wright Medical Group N.V.
• GeistlichPharma AG
• Stryker Corporation
• Biobank

 

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

 

 

Laboratory Informatics Market Is Owing To Rise As Of Increasing Patient Engagement Requirements Till 2030

 Laboratory Informatics Industry Overview

The global laboratory informatics market size was valued at USD 3.21 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030.

An increase in demand for laboratory automation is expected to fuel the adoption in the coming years. Data generated by laboratories has dramatically risen in the past few decades owing to the rising technological advancements in molecular genomics and genetic testing practices. In addition, the shift of preference toward personalized medicine, cancer genomics studies, and increasing patient engagement requirements is expected to upsurge the demand for lab automation systems.

Software solutions are becoming more user-friendly, data is moving to the cloud, and the number of startups in the field of laboratory informatics is on the rise. The cloud is becoming the norm for laboratory informatics software. Informatics providers must now have a cloud and SaaS strategy. In addition, the number of research laboratories implementing cloud, mobile, and voice technologies is increasing over time, which is boosting the demand for lab automation solutions.

Gather more insights about the market drivers, restrains and growth of the Global Laboratory Informatics Market

The outbreak of the Coronavirus has turned the spotlight on the healthcare sector. Shortages of critical medical supplies during this pandemic have severely impacted the overall market. Almost half of the laboratories around the world were shut down and an estimated 14% of the laboratories were fully functional. Subsequently, government measures like stay-at-home orders, social distancing norms, movement restrictions, and supply chain disruptions have created a logistical problem for companies, leading to the shortages of on-premise delivery of the product in the worldwide marketplace.

On the other hand, with an unprecedented demand for COVID-19 testing worldwide, clinical labs have scaled up their operations and faced new challenges comprising development, standardization, and validation of the new methods for testing and administration of large volumes of patient specimens and test data, besides rapid and reliable reporting of test outcomes. To speed up the high demand for COVID-19 tests in clinical labs, a LIMS plays an essential role, which led to the adoption of the product.

Moreover, laboratory information systems are gaining popularity in biobanks, academic research institutes, and Contract Research Organizations (CROs) owing to the associated benefits. The benefits of using these systems include process optimization, improved regulatory compliance, intellectual property rights protection, and reduced throughput time. Paperless information management reduces labor costs and offers improved data quality through the elimination of errors and faster and effective data analytics.

Laboratories are critical to both manufacturing and research organizations across the life sciences and medical research industries. The primary objective of a laboratory is to ensure the generation of high-quality and reliable experiment data that conforms to the regulatory guidelines of the industry. Advances in technology combined with stringent regulatory needs and increasing commercial pressures have led to the rapid generation of vast amounts of data from various aspects comprising research and development, quality assurance, and manufacturing.

Furthermore, an increasing burden from the regulatory authorities for the implementation of lab automation systems is expected to serve this market with lucrative growth opportunities. The increasing adoption of robotics and process automation in healthcare has rendered operations reproducible and repeatable. It is now possible to set up, run, and analyze the experimental results in a shorter time. Rising penetration of high throughput systems has enabled efficient evaluation of experimental results, which increases the overall efficiency of laboratory operations.

 

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• Laboratory Information Management System Market - The global laboratory information management system market size was valued at USD 1.85 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030. Technological advancements pertinent to pharmaceutical laboratories and the rising demand for lab automation are expected to fuel the demand for these systems in the years to come.
• Electronic Lab Notebook Market - The global Electronic Lab Notebook (ELN) market size was estimated at USD 532.0 million in 2018 and is anticipated to expand at a CAGR of 4.8% over the forecast period. An increase in demand for automation in laboratories is expected to fuel the adoption of ELN. The benefits such as process optimization, improved regulatory compliance, reduced labor cost, improved data quality, and faster delivery are some of the major factors driving the growth.

 

Laboratory Informatics Market Segmentation

 

Grand View Research has segmented the global laboratory informatics market report on the basis of product, delivery mode, component, end-use, and region:

• Laboratory Informatics Product Outlook (Revenue, USD Million, 2017 - 2030)
  • Laboratory Information Management Systems (LIMS)
  • Electronic Lab Notebooks (ELN)
  • Scientific Data Management Systems (SDMS)
  • Laboratory Execution Systems (LES)
  • Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
  • Chromatography Data Systems (CDS)
  • Enterprise Content Management (ECM)
• Laboratory Informatics Delivery Mode Outlook (Revenue, USD Million, 2017 - 2030)
  • On-premise
  • Web-hosted 
  • Cloud-based
• Laboratory Informatics Component Outlook (Revenue, USD Million, 2017 - 2030)
  • Software
  • Services
• Laboratory Informatics End-use Outlook (Revenue, USD Million, 2017 - 2030)
  • Life Sciences
    • Pharmaceutical and Biotechnology Companies
    • Biobanks/Biorepositories
    • Contract Services Organizations
    • Molecular Diagnostics & Clinical Research Laboratories
    • Academic Research Institutes
  • CROs
  • Chemical Industry
  • F&B and Agriculture
  • Environmental Testing Labs
  • Petrochemical Refineries & Oil and Gas Industry
  • Other Industries
• Laboratory Informatics Regional Outlook (Revenue, USD Million, 2017 – 2030)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights

• August 2021: Abbott Informatics released STARLIMS Laboratory Execution System v1.1. This is built on the latest STARLIMS Quality Manufacturing QM 12.2.
• July 2021: GoMeyra has introduced GoMeyra MD, a next-generation health care management platform.

 

Key Companies profiled:

Some prominent players in the global laboratory informatics market include:

• Thermo Fisher Scientific, Inc.
• Core Informatics
• LabWare
• PerkinElmer, Inc.
• LabVantage Solutions, Inc.
• LabLynx, Inc.
• Agilent Technologies
• ID Business Solutions Ltd.
• McKesson Corporation
• Waters Corporation
• Abbott Informatics

 

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Pulmonary Arterial Hypertension Market Is Expected To Rise As Of Growing Initiatives By Key Market Players

 Pulmonary Arterial Hypertension Industry Overview

The global pulmonary arterial hypertension market size was valued at USD 7.0 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030.

Growing initiatives by key market players, high prevalence of pulmonary arterial hypertension, adoption rate, availability of reimbursement, and entry of generics are some of the key drivers of this market. As per the American Lung Association, about 500 to 1000 new PAH patients are being diagnosed every year in the U.S.

Gather more insights about the market drivers, restrains and growth of the Global Pulmonary Arterial Hypertension Market

Market players reported a significant impact of the COVID-19 pandemic on operational activity, financial performance, and results of operations. These ranged from delay in clinical trials, supply chain challenges, dampened demand, reduced new patient visits, among others. Gilead for instance reported adverse impact on its clinical studies including the company’s ability to initiate and complete trials within the estimated timelines. The imposition of restrictions on patient visits lead to delays with new subject enrollment for most of Gilead’s clinical trials during 2020.

The pandemic also disrupted regulatory reviews and inspections thus impacting the ability of market players to launch new commercial products. The market witnessed low demand due to the limited ability or willingness of patients to initiate new therapies and to access and seek care from healthcare providers. By 2021, the market recovered gradually. The pandemic had minimal to no negative impact on sales of pulmonary arterial hypertension drugs as major companies ensured a continuous supply of stock for existing customers.

 

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• Clinical Trials Market - The global clinical trials market size was valued at USD 47.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. However, the market growth was hindered in 2020 due to the COVID-19 pandemic. In 2020, Parexel and Synairgen plc formed a strategic collaboration for conducting a Phase III study of an Interferon-beta (IFN-beta) treatment for COVID-19 patients. 
• Idiopathic Pulmonary Fibrosis Treatment Market - The global idiopathic pulmonary fibrosis treatment market size was valued at USD 2.00 billion in 2018 and is estimated to expand at a CAGR of 12.7% over the forecast period. Increasing prevalence of idiopathic pulmonary fibrosis (IPF) and increasing geriatric population are the key drivers of the market. Rising number of cigarette smoking people, leading to a high prevalence of IPF, is also projected to fuel the growth.

 

Pulmonary Arterial Hypertension Market Segmentation

 

Grand View Research has segmented the global pulmonary arterial hypertension market report on the basis of drug class, type, route of administration, and region:

• Pulmonary Arterial Hypertension Drug Class Outlook (Revenue, USD Million, 2017 - 2030)
  • Endothelin Receptor Antagonists (ERAs)
  • PDE-5 Inhibitors
  • Prostacyclin and Prostacyclin Analogs
  • SGC Stimulators
• Pulmonary Arterial Hypertension Type Outlook (Revenue, USD Million, 2017 - 2030)
  • Branded
  • Generics
• Pulmonary Arterial Hypertension Route of Administration Outlook (Revenue, USD Million, 2017 - 2030)
  • Oral
  • Intravenous/ subcutaneous
  • Inhalational
• Pulmonary Arterial Hypertension Regional Outlook (Revenue, USD Million, 2014 - 2026)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights

• November 2020: Mylan N.V. merged with Pfizer Inc.’s Upjohn Business to form Viatris Inc. Viatris offers a robust portfolio of biosimilars, branded and complex generics, over-the-counter products, including the PAH drug Revatio.
• April 2019: Cipla, headquartered in India, received U.S. FDA clearance for Ambrisentan Tablets (generic version of Gilead Sciences’ Letairis). 

 

Key Companies profiled:

 

Some of the prominent players in the pulmonary arterial hypertension market include:

• United Therapeutics Corporation
• Bayer
• Gilead Sciences, Inc.
• Johnson & Johnson
• Viatris Inc.
• GlaxoSmithKline
• Sandoz Inc. (Novartis)
• Lupin Pharmaceuticals, Inc.
• Sun Pharmaceutical Industries, Inc.
• Teva Pharmaceutical Industries Ltd.

 

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Pharmaceutical Packaging Market Is Expected To Grow As Of Rising Focus On Brand Enhancement Till 2030

 Pharmaceutical Packaging Industry Overview

 

The global pharmaceutical packaging market size was valued at USD 117.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.5% from 2021 to 2030.

 

Growing penetration of retail pharmacies in developing regions and a rising focus on brand enhancement and product differentiation by pharmaceutical manufacturers are anticipated to fuel the market growth. Packaging products are primarily utilized for storing solid, liquid, and semisolid forms of formulations, such as tablets, capsules, syrups, and topical drug formulations. The increasing prevalence of chronic diseases due to changing lifestyles, eating habits, and alternation in sleep cycles are contributing to an increased need for medications.

 

In addition, the focus of various governments on strengthening healthcare facilities and insurance coverage is further expanding the demand for pharmaceuticals, which, in turn, is boosting the market growth. Drugs are majorly offered in pills, liquid, and powder forms. Various packaging types including rigid bottles, standup pouches, flat pouches, sachets, and blister packs are used for their packaging. Pharma packaging products are highly customized products and are bounded by strict regulatory compliances, especially concerning the sterility of the packaging. Thus, the packaging and pharmaceutical product manufacturers work closely during the development of packaging products.

 

Gather more insights about the market drivers, restrains and growth of the Global Pharmaceutical Packaging Market

 

The emergence of counterfeiting activities has led to the imposition of bans on such counterfeit products that can cause undesirable effects on consumers, leading to major health concerns. From February 2019, under the Commission Delegated Regulation (EU) 2016/161, drug makers are required to add a unique identifier and an anti-tampering device to the packaging of most centrally authorized pharmaceutical products. Packaging companies are increasingly focusing on the incorporation of tamper-evident properties into the packaging to enhance their functionality and safety to comply with strict regulations.

 

Companies are majorly focusing on the utilization of Post-Consumer Recycled (PCR) material and are also developing packaging from compostable material to increase sustainability. Gerresheimer AG offers glass bottles made from PCR glass. In addition, the company is offering bottles made from R-PET and BIO-PET (resins made from sugarcane plants). This trend of sustainable packaging is expected to significantly gain pace in the coming years.

 

Following the COVID-19 outbreak in December 2019, top biotechnology and pharmaceutical companies are engaged in the development of vaccines for the disease. In 2020, the demand for glass-based vials has therefore witnessed a significant spike in demand owing to the increased COVID-19 vaccine production by companies including GlaxoSmithKline plc (GSK), AstraZeneca, Pfizer, Johnson & Johnson, and Moderna. The demand is further expected to increase in 2021 with an increasing number of orders for vaccines from countries across the world.

 

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

 

• Europe Pharmaceutical Packaging Materials Market - The Europe pharmaceutical packaging materials market size was valued at USD 5.89 billion in 2018 and is expected to expand at a CAGR of 7.7% over the forecast period. Recent technological advancements, such as smart packing, are likely to drive the growth. Increasing use of environment-friendly pharmaceutical and energy saving packing products is also expected to influence the market positively.

 

• Middle East & Africa Aluminum Foil Packaging Market - The Middle East & Africa aluminum foil packaging market size was valued at USD 1.94 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2020 to 2028. A major shift from plastic packaging to sustainable packaging choices is anticipated to augment the growth of the market. The rising number of food service outlets and a resultant rise in demand for food packaging containers are expected to drive the market over the forecast period.

 

Pharmaceutical Packaging Market Segmentation

 

Grand View Research has segmented the global pharmaceutical packaging market report on the basis of material, product, end use, and region:

• Pharmaceutical Packaging Material Outlook (Revenue, USD Million, 2017 - 2030)
  • Plastics & Polymers
    • Polyvinyl Chloride (PVC)
    • Polypropylene (PP)
    • PET
    • PE
    • PS
    • Others
  • Paper & Paperboard
  • Glass
  • Aluminum Foil
  • Others
• Pharmaceutical Packaging Product Outlook (Revenue, USD Million, 2017 - 2030)
  • Primary
    • Plastic Bottles
    • Caps & Closures
    • Parenteral Containers
    • Blister Packs
    • Prefillable Inhalers
    • Pouches
    • Medication Tubes
    • Others
  • Secondary
    • Prescription Container
    • Pharmaceutical Packaging Accessories
  • Tertiary
• Pharmaceutical Packaging End-use Outlook (Revenue, USD Million, 2017 - 2030)
  • Pharma Manufacturing
  • Contract Packaging
  • Retail Pharmacy
  • Institutional Pharmacy
• Pharmaceutical Packaging Regional Outlook (Revenue, USD Million, 2017 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights

• June 2020: Symetal achieved the certification for FSSC 22000 (Food Safety System Certification 22000 - Version 5) for its Foil Converting Plant (Mandra, Attica).
• December 2019: Top biotechnology and pharmaceutical companies are engaged in the development of vaccines for the disease.

 

Key Companies profiled:

Some prominent players in the global pharmaceutical packaging market include:

• Amcor plc
• Becton, Dickinson, and Company
• AptarGroup, Inc.
• Drug Plastics Group
• Gerresheimer AG
• Schott AG
• Owens Illinois, Inc.
• West Pharmaceutical Services, Inc.
• Berry Global, Inc.
• WestRock Company
• SGD Pharma
• International Paper
• Comar, LLC
• CCL Industries, Inc.
• Vetter Pharma International

 

Order a free sample PDF of the Pharmaceutical Packaging Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Patient Engagement Solutions Market - Growing Technological Developments, Adoption Of EHR And Mhealth Solutions

Patient Engagement Solutions Industry Overview

 

The global patient engagement solutions market size was valued at USD 16.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.4% from 2022 to 2030.

 

Growing technological developments, adoption of EHR and mhealth solutions, the prevalence of chronic diseases, supportive initiatives by key market stakeholders, and consumerism in healthcare are some of the key drivers of this market. As per a 2021 survey by NextGen Healthcare,83% of ambulatory healthcare survey respondents believed that patient engagement solutions played a key role in organizational financial success and patient outcomes. The survey also indicated that the COVID-19 pandemic fueled the market growth.            

 

The COVID-19 pandemic has made unprecedented consequences on daily lives in addition to the worldwide economy. A significant burden is formed on healthcare systems across the globe. Providers, payers, and life science companies began looking for solutions to increase engagement with patients in various settings such as remote home monitoring, virtual consultations, and clinical trials. The pandemic and the resulting movement restrictions propelled the need to facilitate virtual communication between customers and their care providers. This led to a surge in demand for patient engagement solutions during 2020. This growth, however, was observed to have dampened during 2021 and the market is anticipated to grow notably at a steady rate over the forecast period.

 

Gather more insights about the market drivers, restrains and growth of the Global Patient Engagement Solutions Market

 

The COVID-19 outbreak has encouraged innovations in patient monitoring and cloud computing. For instance, in April 2020, GE Healthcare announced an innovative cloud-based remote-monitoring tool intended to assist clinicians to look after ventilated COVID-19 patients. The growing number of smartphone users around the globe expedited the adoption of mHealth across the sector both from providers and consumers. Healthcare apps are rising and they are easy to download on smartphones. These apps can be connected with wearable devices and they support the users in overall health management, which, in turn, has augmented the dependability of patients on mHealth apps. Hence, the COVID-19 pandemic is anticipated to play a substantial role in digital transformation.

 

Favorable government initiatives are likely to impact the market growth in the coming years. For instance, in 2018, the FDA established the Patient and Caregiver Connection program. The program was aimed to foster engagement with patients, patient advocates, and caregivers all through the evaluation and surveillance of the treatment. Furthermore, the adoption of these solutions in developing countries like India is supported by favorable government initiatives. For instance, in March 2019, Columbia Asia Hospitals situated across Malaysia, India, Indonesia, and Vietnam launched a patient engagement application suite in collaboration with MphRx. This program is aimed to digitally transform healthcare services, enhance patient engagement, and lead to clinical excellence.

 

Factors such as the growing burden of chronic diseases and a rise in the geriatric population have led to the adoption of patient engagement solutions worldwide. For instance, as per the American Diabetes Association 2020, there were 1.5 million new cases of diabetes in the U.S. annually. In response to the growing number of diabetic patients, companies are focusing on the development of patient-centric engagement solutions.

 

For instance, in December 2020, Roche released a digital platform to personalize diabetes management in Thailand. In Thailand, there are 4.3 million individuals with diabetes, out of which half are analyzed, and from those analyzed and treated, only a third are attaining their treatment targets. Roche Diabetes Care's digital platform collects and holds all patient-related health data and it facilitates communication between patients and their healthcare team. Moreover, programs like these help in cost evaluation, operational effectiveness, and clinical outcomes.

 

Browse through Grand View Research's Healthcare IT Industry Research Reports.

 

• Electronic Health Records Market - The global electronic health records market size was estimated at USD 27.2 billion in 2021 and it is anticipated to expand at a CAGR of 4.0% from 2022 to 2030. Government initiatives to encourage healthcare IT usage is the key driver to this market. For instance, My Health Record is a national digital health record platform in Australia. Every Australian citizen has a “My Health Record” unless they have chosen that they don’t want it.
• S. Patient Engagement Solutions Market - The U.S. patient engagement solutions market size was valued at USD 4.41 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.6% from 2021 to 2028. Growing adoption of digital health technologies, supportive government initiatives, the prevalence of chronic diseases, and investments by stakeholders are some of the key growth drivers of this market.

 

Patient Engagement Solutions Market Segmentation

 

Grand View Research has segmented the global patient engagement solutions market report on the basis of delivery type, component, functionality, therapeutic area, application, end user, and region

• Patient Engagement Solutions Delivery Type Outlook (Revenue, USD Million, 2017 - 2030)
  • Web & Cloud-based
  • On-premise
• Patient Engagement Solutions Component Outlook (Revenue, USD Million, 2017 - 2030)
  • Software & Hardware
    • Standalone
    • Integrated
  • Services
    • Consulting
    • Implementation & Training
    • Support & Maintenance
    • Others
  • Patient Engagement Solutions Functionality Outlook (Revenue, USD Million, 2017 - 2030)
    • Communication
    • Health Tracking & Insights
    • Billing & Payments
    • Administrative
    • Patient Education
    • Others
  • Patient Engagement Solutions Therapeutic Area Outlook (Revenue, USD Million, 2017 - 2030)
    • Health & Wellness
    • Chronic Disease Management
    • Others
  • Patient Engagement Solutions Application Outlook (Revenue, USD Million, 2017 - 2030)
    • Population Health Management
    • Outpatient Health Management
    • In-patient Health Management
    • Others
  • Patient Engagement Solutions End-user Outlook (Revenue, USD Million, 2017 - 2030)
    • Payers
    • Providers
    • Others
  • Patient Engagement Solutions Regional Outlook (Revenue, USD Million, 2017 - 2030)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa (MEA)

 

Market Share Insights

• December 2020: Roche released a digital platform to personalize diabetes management in Thailand. In Thailand, there are 4.3 million individuals with diabetes, out of which half are analyzed, and from those analyzed and treated, only a third are attaining their treatment targets.
• May 2020: Microsoft launched its first sector-specific cloud i.e., Microsoft Cloud for Healthcare. The platform is intended to aid providers to advance patient engagement and association among health teams with features such as telehealth and data analytics. 
• September 2019: GetWellNetwork and Cerner partnered to narrow the gaps between providers and patients from inpatient to outpatient settings and the home.

 

Key Companies profiled:

 

Some prominent players in the global patient engagement solutions market include:

• Cerner Corporation (Oracle)
• NextGen Healthcare, Inc.
• Epic Systems Corporation
• Allscripts Healthcare, LLC
• McKesson Corporation
• ResMed
• Koninklijke Philips N.V.
• Klara Technologies, Inc.
• CPSI
• Experian Information Solutions, Inc.
• athenahealth, Inc.
• Solutionreach, Inc.
• IBM
• MEDHOST
• Nuance Communications, Inc.

 

Order a free sample PDF of the Patient Engagement Solutions Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Veterinary Diagnostics Market Is Expected To Rise As Of Increased Expenditure On Animal Health And Rising Incidence Of Zoonotic Diseases

Veterinary Diagnostics Industry Overview

 

The global veterinary diagnostics market size was valued at USD 6.63 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 11.2% from 2022 to 2030.

 

The growth in this market is attributed to factors, such as increased expenditure on animal health, rising incidence of zoonotic diseases & number of veterinary practitioners, technological advancement in point of care diagnostics, and increasing disposable income levels in developing regions. The growing incidence of infectious animal ailments is further poised to augment the demand for veterinary diagnostics. Moreover, advancements in diagnostics together with the growing acceptance of innovative techniques in most of the laboratories are driving the market growth.

 

Gather more insights about the market drivers, restrains and growth of the Global Veterinary Diagnostics Market

 

For instance, in August 2021, FORCE Technology established a new subsidiary called AeroCollect A/S. AeroCollect technology with simple air samples offers a picture of the diseases in a herd. This is a revolution in animal diagnostics developed in Denmark by the GTS institute FORCE Technology. AeroCollect technology is presently used in the swine, poultry, and mink industries. The global COVID-19 pandemic has impacted all industries. OIE has confirmed that no animals can spread this virus. However, human-to-animal transmission has been reported in a few countries. During the COVID-19 pandemic, limited operation of veterinary clinics due to stringent lockdown norms consequently resulted in a decline in veterinary visits, thus impacting the market.

 

However, the market has shown a V-shaped recovery during the 3rd quarter of 2020 due to the resumption of pet clinic visits and ease of norms. According to IDEXX, U.S. clinic visits increased by 6% in Q4 2020 from the last quarter, which is expected to drive the market growth over the forecast period. An increase in pet adoption will also support the market growth. For instance, shelters, nonprofit rescues, and private breeders all reported high consumer demand post-COVID-19 in the U.S. Strong product pipeline By IDEXX, Zoetis, and Heska Corp. is expected to propel the growth over the forecast period. For instance, Zoetis acquired Scandinavian Micro Biodevices in August 2020 to expand its revenue in veterinary diagnostics.

 

Moreover, veterinarians have been gradually increasing the frequency of diagnostic testing. This trend was highlighted during the COVID-19 pandemic when hospitals had to focus on essential pet services. Continued growth in the population of pets and the increased penetration of veterinary diagnostic products at veterinary clinics further promote market growth. For instance, IDEXX showed improved utilization of diagnostics supported a 21% surge in same-store diagnostic revenue per practice, and a 15% surge in same-store veterinary clinic revenue in its Q1 2021 earning call.

 

Browse through Grand View Research's Animal Health Industry Research Reports.

• Veterinary Care Market - The global veterinary care market size was valued at USD 74.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028. Increasing cases of chronic diseases in pets and livestock animals are fueling the demand for better veterinary care. Many awareness programs are being conducted around the world regarding better veterinary care, thus propelling the demand.
• Animal Health Market - The global animal health market size was valued at USD 39.9 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 10.0% from 2022 to 2030. The market is largely driven by a significant rise in demand for protein food and an increase in the incidence of zoonotic and food-borne diseases globally. This unprecedented rise in disease prevalence has triggered companies to produce advanced vaccines and pharmaceuticals.

 

Veterinary Diagnostics Market Segmentation

 

Grand View Research has segmented the global veterinary diagnostics market report on the basis of product, species, disease type, testing type, end-use, and region:

• Veterinary Diagnostics Product Outlook (Revenue, USD Million, 2017 - 2030)
  • Consumables, Reagents & Kits
  • Instruments & Devices
• Veterinary Diagnostics Species Outlook (Revenue, USD Million, 2017 - 2030)
  • Cattle
  • Canine
  • Feline
  • Caprine
  • Equine
  • Ovine
  • Porcine
  • Avian
  • Others
• Veterinary Diagnostics Testing Type Outlook (Revenue, USD Million, 2017 - 2030)
  • Analytical Services
  • Diagnostic Imaging
  • Bacteriology
  • Pathology
  • Molecular Diagnostics
  • Immunoassays
  • Parasitology
  • Serology
  • Virology
• Veterinary Diagnostics Disease Type Outlook (Revenue, USD Million, 2017 - 2030)
  • Infectious Diseases
  • Non-Infectious Diseases
  • Hereditary, Congenital and Acquired Diseases
  • General Ailments
  • Structural and Functional Diseases
• Veterinary Diagnostics End-use Outlook (Revenue, USD Million, 2017 - 2030)
  • Laboratories
  • Veterinary Hospitals and Clinics
  • Point-Of-Care/In-House Testing
  • Research Institutes and Universities
• Veterinary Diagnostics Regional Outlook (Revenue, USD Million, 2017 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights

• August 2021: FORCE Technology established a new subsidiary called AeroCollect A/S. AeroCollect technology with simple air samples offers a picture of the diseases in a herd. 
• March 2021: Zomedica Corp., a veterinary health corporation producing point-of-care diagnostics products for cats and dogs, recorded the first veterinarian sale of TRUFORMA and officially entered commercialization. 
• January 2021: Heska entered into an agreement to acquire Lacuna Diagnostics, Inc. This enabled the company to enter the clinical specialty services space.

 

Key Companies profiled:

Some of the prominent players in the global veterinary diagnostics market include:

• Zoetis
• Heska Corp.
• IDEXX Laboratories Inc.
• Agrolabo S.p.A.
• IDvet
• Virbac
• Thermo Fisher Scientific Inc.
• Neogen Corp.
• Covetrus
• iM3Vet Pty Ltd.

 

Order a free sample PDF of the Veterinary Diagnostics Market Intelligence Study, published by Grand View Research. 

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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