Healthcare and Pharmaceutical Market Research Reports: June 2022

Wednesday 29 June 2022

Clinical Laboratory Tests Market Is Developing Rapidly Due To Rising Awareness Among Health-Conscious Population

Clinical Laboratory Tests Industry Overview

The global clinical laboratory tests market size was valued at USD 176.7 billion in 2019. It is expected to register a CAGR of 7.1% over the forecast period.

Increasing prevalence of chronic diseases and rising awareness among health-conscious population have fueled the growth of the overall market.The demand for clinical laboratory tests is driven by growing investments in diagnosing target diseases such as cardiovascular disorders, tuberculosis, and diabetes. Clinical laboratory tests help diagnose diabetes mellitus. According to an article published by the International Diabetes Federation in 2019, around 463 million adults were living with diabetes, and by 2045 it is estimated to reach 700 million globally.

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

Increasing geriatric population is anticipated to drive the overall market for clinical laboratory tests. According to the data published by the World Population Prospects: the 2019 Revision, around one in 11 people were aged over 65 years in 2019, and by 2050, it is estimated that approximately one in 6 people in the world will be aged 65 years and above. Clinical laboratory tests are increasingly used to diagnose age-related diseases.

Moreover, growing rate of insufficient exercise, consumption of unhealthy food, and the subsequent rise in cases of obesity are expected to increase the prevalence of various chronic diseases. Rising awareness of the necessity of regular body profiling among healthcare professionals and patients globally is expected to increase the demand for clinical laboratory tests.

Browse through Grand View Research's Clinical Diagnostics Industry Research Reports.

Anatomic Pathology Market - The global anatomic pathology market size was valued at USD 16.06 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.08% from 2021 to 2028. An increase in the clinical use of biomarkers enables the pathologists to determine disease pathogenesis at the molecular level and further guides the clinical decision-making, thereby improving patient outcomes.
Point Of Care Diagnostics Market - The global point of care diagnostics market size was valued at USD 37.03 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2030.

Clinical Laboratory Tests Market Segmentation

Grand View Research has segmented the global clinical laboratory tests market on the basis of type, end use, and region.

Clinical Laboratory Tests Type Outlook (Revenue, USD Billion, 2016 - 2027)

Complete blood count
HGB/HCT
Basic metabolic panel
BUN creatinine tests
Electrolytes testing
HbA1c tests
Comprehensive metabolic panel
Liver panel
- Hepatitis
- Bile duct obstruction
- Liver Cirrhosis
- Liver Cancer
- Bone disease
- Autoimmune disorders
- Others
Renal panel
Lipid panel

Clinical Laboratory Tests End-use Outlook (Revenue, USD Billion, 2016 - 2027)

Central Laboratories
- Complete blood count
- HGB/HCT
- Basic metabolic panel
- BUN creatinine tests
- Electrolytes testing
- HbA1c tests
- Comprehensive metabolic panel
- Liver panel
- Renal panel
- Lipid panel
Primary Clinics
- Complete blood count
- HGB/HCT
- Basic metabolic panel
- BUN creatinine tests
- Electrolytes testing
- HbA1c tests
- Comprehensive metabolic panel
- Liver panel
- Renal panel
- Lipid panel

Clinical Laboratory Tests Regional Outlook (Revenue, USD Billion, 2016 - 2027)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Key Companies profiled:

Some prominent players in the global clinical laboratory tests market include

Abbott
ARUP Laboratories
OPKO Health, Inc.
Bioscientia Institut für Medizinische Diagnostik GmbH
Charles River
NeoGenomics Laboratories, Inc.
Genoptix, Inc.; Healthscope Ltd.
Labco
Laboratory Corporation of America Holdings (LabCorp)
Fresenius Medical Care
QIAGEN
Quest Diagnostics
Siemens Healthcare Private Limited
Tulip Diagnostics (P) Ltd.
Sonic Healthcare; Merck KgaA
Biosino Bio-technology
Science Inc.

Order a free sample PDF of the Clinical Laboratory Tests 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.

Liquid Biopsy Market To Forsee Commendable Growth, Due To Rise In Demand For Fast, Minimally Invasive Diagnostic Tests

Liquid Biopsy Industry Overview

The global liquid biopsy market size was valued at USD 7.03 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 13.5% during the forecast period.

The increasing prevalence of cancer coupled with the rise in demand for fast, minimally invasive diagnostic tests drives the market growth. According to the American Cancer Society, in 2021, 235,760 people are estimated to be diagnosed with non-small-cell lung cancer, the most common form of lung cancer in the U.S. Overall, around one in 17 men and one in 15 women are at risk of developing lung cancer in their lifetime. Thus, the need for the implementation of liquid biopsy tests is growing to diagnose and eradicate cancer in a target population.

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With the onset of the COVID-19 pandemic, cancer diagnoses are getting delayed as diagnosis services and screening programs have reduced. Cancer patients are facing many challenges amid the pandemic, such as susceptibility to severe infection and interruption of cancer or usual medical care.

Amidst the pandemic, several companies have adopted various strategic initiatives for providing safe and easy in-home access for liquid biopsy tests. For instance, in November 2020, NeoGenomics, Inc. launched a mobile phlebotomy service for liquid biopsy tests, including NeoLAB and InvisionFirst. The company offers its service through two phlebotomy companies, ExamOne and Metro Health Staffing LLC, for broad geographic coverage to ensure tests are performed efficiently. In these cases, liquid biopsy provides an efficient alternative to traditional screening. The technology assists in early cancer detection and prevents the disease to reach a stage when it can adversely affect a patient’s survival. Liquid biopsies are extremely sensitive and are based on blood tests. In addition, they can reduce the risk of COVID-19 transmission during the procedure, which is expected to be a major factor fueling the global market growth.

Researchers from Cornell University are developing a liquid biopsy test that can detect and measure injury to cells, tissue, and organs due to COVID-19. The test is to evaluate the severity of the disease and project their outcomes. In addition, it can reveal the involvement of various organs in the disorder. This is expected to increase R&D funding, further stimulating market growth.

Browse through Grand View Research's Clinical Diagnostics Industry Research Reports.

Polymerase Chain Reaction Market - The global polymerase chain reaction market size was valued at USD 23.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 0.9% from 2021 to 2028.
Biomarkers Market - The global biomarkers market size was valued at USD 51.18 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.2% from 2021 to 2028.

Liquid Biopsy Market Segmentation

Grand View Research has segmented the global liquid biopsy market on the basis of sample type, biomarker, technology, and region:

Liquid Biopsy Sample Type Outlook (Revenue, USD Million, 2017 - 2028)

Blood Sample Based
Others

Liquid Biopsy Biomarker Outlook (Revenue, USD Million, 2017 - 2028)

Circulating Nucleic Acids
CTC
Exosomes/Microvesicles
Circulating Proteins

Liquid Biopsy Technology Outlook (Revenue, USD Million, 2017 - 2028)

Multi-gene-parallel Analysis (NGS)
Single Gene Analysis (PCR Microarrays)

Liquid Biopsy Regional Outlook (Revenue, USD Million, 2017 - 2028)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Market Share Insights

August 2021: A research group at Exact Sciences and UW-Madison started working on liquid biopsies for cancer, including a blood test that helps detect genetic mutations in tumors targeted by drugs.
April 2021: Biodesix, Inc. declared its plan to launch a blood-based 52-gene NGS test to enhance its portfolio of molecular testing.

Key Companies profiled:

Some prominent players in the global liquid biopsy market include

QIAGEN
Myriad Genetics, Inc.
BIOCEPT, Inc.
Guardant Health, Inc.
Hoffmann-La Roche Ltd.
Illumina, Inc.
Angle plc
Oncimmune
Thermo Fisher Scientific, Inc.
Lucence health Inc.
FreenomeHoldings, Inc.
EPIGENOMICS AG

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

About Grand View Research

Sunday 26 June 2022

Human Growth Hormone Market To Rise Up At Exponential Growth, Owing To Extensive R&D Activities and Robust Product Portfolio Till 2027

Human Growth Hormone Industry Overview

The global human growth hormone market size was valued at USD 4.6 billion in 2019 and is estimated to register a CAGR of 8.2% over the forecast period.

Factors such as investments by market players, the presence of a strong pipeline, extensive R&D activities, robust product portfolio, and increasing government initiatives are expected to significantly drive the market. Human growth hormone (HGH), also known as somatotropin, is a peptide hormone responsible for growth stimulation, cell reproduction, and cell regeneration in humans and is hence important for human development. Growth hormone (GH) deficiency in humans is caused when the pituitary gland does not synthesize enough concentration of hGH. This deficiency in humans is treated by administering recombinant human growth hormone by subcutaneous injection. Various genetic disorders, including Prader-Willi syndrome and Turner syndrome, may also cause growth hormone deficiency in humans, leading to delayed puberty and shorter-than-average height.

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According to data published by the American Academy of Pediatrics, growth hormone deficiency among humans is a rare condition and affects less than one in 3,000 to one in 10,000 children in U.S. Currently, hGH is widely abused as an anti-aging treatment in older adults and as a performance-enhancing anabolic drug by bodybuilders and athletes. However, HGH is a controlled substance as per the USFDA and has not been approved for anti-aging and performance-enhancing indications.

Robust product pipeline and extensive R&D activities for the development of novel growth hormone therapies are expected to be the major factors driving the market for human growth hormones. For instance, in September 2018, Novo Nordisk presented Phase II clinical trial data of its investigational GH therapy, Somapacitan, indicated for the treatment of pediatric growth hormone deficiency. In addition, in May 2019, Ascendis Pharma A/S published results from the Phase III clinical trial of its TransCon hGH, indicated for pediatric growth hormone deficiency. Similarly, various key players including Teva Pharmaceutical Industries, Ltd.; OPKO Health, Inc.; Eli Lilly and Company; Ferring Pharmaceuticals; Sanofi S.A.; and LG Life Sciences are involved in R&D activities for the development of novel human growth hormone therapies.

Furthermore, initiatives taken by various government and private organizations to spread awareness about GH deficiencies and human growth hormone treatment are expected to drive the market. Every year, the International Coalition of Organizations Supporting Endocrine Patients (ICOSEP), a U.S.-based nonprofit charitable organization, celebrates International Children’s Growth Awareness Day to spread awareness about the early diagnosis and treatment of growth hormone disorders among humans, especially children.

However, the high cost of hGH therapies and various adverse effects related to hGH may hinder market progress over the forecast period. For instance, according to UPMC Children’s Hospital of Pittsburgh, the possible side effects of GH hormone therapy include knee, hip, or other joint pain; allergic reactions, including rash, swelling, or hives; and an increase in blood sugar levels.

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Active Pharmaceutical Ingredients Market - The global active pharmaceutical ingredients market size was valued at USD 209.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2022 to 2030.
Antifungal Drugs Market - The global antifungal drugs market size was valued at USD 14.8 billion in 2021 and is projected to witness a compound annual growth rate (CAGR) of 3.7% from 2022 to 2030. The growing prevalence of fungal infections such as aspergillosis and candidiasis is one of the key factors propelling the market.

Human Growth Hormone Market Segmentation

Grand View Research has segmented the global human growth hormone market on the basis of application, distribution channel, and region:

Human Growth Hormone (HGH) Application Outlook (Revenue, USD Million, 2016 - 2027)

Growth Hormone (GH) Deficiency
- Adult GH Deficiency
- Pediatric GH Deficiency
Turner Syndrome
Idiopathic Short Stature
Prader-Willi Syndrome
Small for Gestational Age
Other

Human Growth Hormone (HGH) Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
Specialty Pharmacy

Human Growth Hormone (HGH) Regional Outlook (Revenue, USD Million, 2016 - 2027)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Market Share Insights

October 2018: Novo Nordisk and Strongbridge Biopharma signed an agreement to acquire the rights to MACRILEN in the U.S. and Canada.
March 2017: Novo Nordisk A/S, a Denmark-based pharmaceutical company, initiated the phase III clinical trial of its HGH somapacitan, indicated for the treatment of adult growth hormone deficiency, in Japan.

Key Companies profiled:

Some prominent players in the global human growth hormone market include

Novo Nordisk A/S
Pfizer,
Eli Lilly and Company
Sandoz International GmbH (Novartis AG)
Merck KGaA
Genentech, Inc (Roche)
Ferring Pharmaceuticals
Teva Pharmaceutical Industries, Ltd

Order a free sample PDF of the Human Growth Hormone Market Intelligence Study, published by Grand View Research.

Wednesday 22 June 2022

Ambulatory Surgery Center Market Is Commendable Grow Due To Increasing Demand For Minimally Invasive Surgeries Till 2026

Ambulatory Surgery Center Industry Overview

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. Rising healthcare costs are a major concern plaguing the industry and with it comes the fact that not many patients can afford the treatment they need, including surgical procedures. This has compelled healthcare providers to come up with new ways to make such services more affordable while also focusing on quality. ASCs have proven to be an effective solution in this scenario.

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High hospitalization costs have also translated into dipping patient admissions in hospitals, with the number of outpatient visits witnessing a surge. According to the American Hospital Association, the total number of outpatient admissions increased from 624 million in 2008 to 675 million in 2012, while the number of inpatient admissions decreased from 35.76 million to 34.40 million in the same duration. The hike in outpatient admissions can also be attributed to the adoption of technologically advanced techniques in outpatient centers, rendering treatment cost-effective and speedier. Advanced surgical methods in such settings enable tests and procedures to be performed without hospital admission.

The rising number of collaborations and acquisitions in the field is also a key factor expected to drive the ASC market through 2026. In January 2017, Surgical Care Affiliates, Inc. (SCA) and Optum entered into an agreement to expand OptumCare’s capabilities in outpatient surgical procedures. In December 2016, SCA collaborated with Midwest Center for Day Surgery. The partnership was aimed at expanding SCA’s position as a low-cost, high-quality surgical services provider in Chicago. In addition, in December 2016, SCA entered into a partnership with Surgery Center at Doral (SCD) to enhance its presence in Miami. This collaboration was targeted to help provide high-quality surgical care at low costs to patients.

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

Surgical Equipment Market - The global surgical equipment market size was valued at 14.34 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030. Factors such rising geriatric population, rise in the incidence of lifestyle diseases that eventually require surgery, growing healthcare costs, and large unmet surgical needs are primarily driving the market.
S. Gastroenterology Ambulatory Surgery Center Market - The U.S. gastroenterology Ambulatory Surgery Center market size was valued at USD 6.9 billion in 2018 and is expected to register a CAGR of 5.91% over the forecast period.

Ambulatory Surgery Center Market Segmentation

Grand View Research has segmented the global ambulatory surgery center market by application and region:

ASC Application Outlook (Revenue, USD Million, 2015 - 2026)

Ophthalmology
Orthopedics
Gastroenterology
Pain Management/Spinal Injections
Plastic Surgery
Others

ASC Regional Outlook (Revenue, USD Million, 2015 - 2026)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Market Share Insights

December 2018: Terveystalo acquired Attendo’s Finland-based healthcare services, and the combined operations were likely to start from January 2019.
January 2017: Surgical Care Affiliates, Inc. (SCA) and Optum entered into an agreement to expand OptumCare’s capabilities in outpatient surgical procedures.

Key Companies profiled:

Some prominent players in the global ambulatory surgery center market include

Community Health Systems, Inc.
Envision Healthcare Corporation
Terveystalo
Tenet Healthcare Corporation
MEDNAX Services, Inc.
TeamHealth
Quorum Health Corporation
UnitedHealth Group
Surgery Partners
Healthway Medical Group

Order a free sample PDF of the Ambulatory Surgery Center Market Intelligence Study, published by Grand View Research.

Scar Treatment Market Is Developing Rapidly As Of Increasing Need For Improving Aesthetic Appeal In Individuals And Complete Skin Rejuvenation

Scar Treatment Industry Overview

The global scar treatment market size was valued at USD 12.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.1% from 2021 to 2028. The market is largely being driven by the increasing need for improving aesthetic appeal in individuals and complete skin rejuvenation. Women account for the majority of the demand as they are more concerned about their appearance. The increasing number of road accidents and burn injuries have also resulted in a rise in the demand for cosmetic procedures on a global scale. A global increase in the number of hypertrophic burn marks, wherein the victim’s appearance has become distorted, is also boosting the demand for scar treatment products.

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The first two waves of the COVID-19 pandemic were marked by the rapid adoption of telemedicine in all domains of the healthcare sector. Skincare, being non-emergency, requires minimal hospital visits. Even though final procedures require a patient to visit the hospital or doctors’ office, pre-planning and post-procedure management are largely preferred through telemedicine. COVID-19 may have temporarily impeded the market growth in 2020, the trends of telemedicine are expected to play an important factor in optimizing the market growth as compared to non-covid situations. In addition, the adoption of ambulatory surgery centers and the development of portable or mobile scar treatment devices are expected to boost the growth of the market in both, developed as well as developing regions.

The growing number of road accidents is one of the high-impact rendering factors, raising the demand for scar treatment products. According to Population Reference Bureau, around 50 million people are injured due to road accidents every year, which frequently leads to the occurrence of scars, requiring surgical treatment. In addition, patients who undergo such surgeries develop surgical scars and are provided topical products to improve and reduce their appearance. Hence, the rising number of road accidents, coupled with the increasing number of cosmetic surgeries, is expected to propel the need for topical products for scar treatment.

According to Plastic Surgery Statistics Report, 181,132 scar revision procedures were performed in 2019, making it one of the top five performed reconstruction procedures. Hence, the demand for greater aesthetic appeal plays an important role in increasing the number of reconstructive surgical cases for scar revision. In addition to skin corrective surgeries, scar treatment products are also widely adopted.

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

Telemedicine Market - The telemedicine market size was valued at USD 70.4 billion in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 19.5% from 2022 to 2030.
E-commerce Market - The global e-commerce market size was valued at USD 9.09 trillion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.7% from 2020 to 2027. Increasing penetration of the internet is bolstering the smartphone-using population across the world.

Scar Treatment Market Segmentation

Grand View Research has segmented the global scar treatment market on the basis of product, scar type, end use, and region:

Scar Treatment Product Outlook (Revenue, USD Million, 2016 - 2028)

Topical Products
- Creams
- Gels
- Silicon Sheets
- Others
Laser Products
- CO2 Laser
- Pulse-dyed Laser
- Others
Injectables
Others

Scar Treatment Scar Type Outlook (Revenue, USD Million, 2016 - 2028)

Atrophic Scars
Hypertrophic and Keloid Scars
Contracture Scars
Stretch Marks

Scar Treatment End-use Outlook (Revenue, USD Million, 2016 - 2028)

Hospitals
Clinics
Retail Pharmacies/ E-commerce

Scar Treatment Regional Outlook (Revenue, USD Million, 2016 - 2028)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Market Share Insights

December 2020: Mölnlycke Healthcare opened a new distribution center at Northampton shire, U.K. This new distribution center was expected to ensure uninterrupted product supply throughout the U.K. with prevailing supply uncertainty caused due to Brexit and COVID-19.

Key Companies profiled:

Some prominent players in the global scar treatment market include

Smith & Nephew PLC
Lumenis
Merz Pharmaceuticals, LLC
Sonoma Pharmaceuticals, Inc.
Cynosure
CCA Industries, Inc.
Newmedical Technology Inc.
Mölnlycke Health Care AB
Suneva Medical

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About Grand View Research

Tuesday 21 June 2022

Medical Foods Market To Rise Up At Exponential Growth Due To Increasing Effort For The Dietary Management Of Diseases

Medical Foods Industry Overview

The global medical foods market size was valued at USD 21.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030. The growing prevalence of communicable and non-communicable diseases and increasing effort for the dietary management of those diseases are anticipated to propel the market growth over the forecast years. For instance, as per the research data published by the University of Liege, it has been estimated that in Europe, the sarcopenia population will increase to 12.9% by 2045 from 11.1% in 2016. The increasing geriatric population suffering from several chronic and neurogenic disorders such as dementia, stroke, multiple sclerosis, and difficulty in swallowing requires specific dietary management, which, in turn, is expected to drive the market over the forecast years.

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For instance, according to the WHO, the world population aged over 60 years of age is expected to be doubled from 12% to 22% between the years 2015 and 2050. Furthermore, increasing preference to consume specific foods in order to manage chronic diseases such as obesity, diabetes, and other nutritional diseases is anticipated to drive the adoption of medical foods. In addition, medical foods are intended for specific dietary management with distinctive nutritional requirements to treat specific diseases, which are expected to drive the market.

Growing product launch activities by the manufacturers and constant innovations in product development are the major factors anticipated to propel the product demand. Besides, in order to treat new inherited metabolic disorders and manage their incurable condition, there is a growing demand for the development of new food for special medical purposes. For instance, in October 2020, Nestle Health Science launched protein-based ready-to-drink nutritional food in China for special medical purposes (FSMPs). The main component of that drink is a galactomannan, a highly soluble dietary fiber, which can improve and prevent gastrointestinal intolerance and diarrhea. In addition, in June 2018, VAYA Pharma, Inc. introduced Vayarin Plus, an extra-strength formula, and expanded its medical food product offerings, which offer clinical dietary management for ADHD adults weighing more than 97 lbs and in adolescents.

In addition, increasing consideration of medical foods to manage and control diabetic neuropathy and diabetes is expected to accelerate the market growth. Diabetes is one of the major chronic diseases and the prevalence has been constantly rising. According to the WHO data published in 2019, approximately 1.5 million deaths are caused directly due to diabetes and it was considered to be the ninth leading cause of death. An unhealthy lifestyle and diet are the leading causes of diabetic neuropathy and medical foods act as a remedy to improve and manage these kinds of disorders. For instance, as per the International Diabetic Federation data in 2019, about 463 million adults are living with diabetes and this number will rise to 700 million by 2045.

Several industry consolidation activities by the manufacturers in the clinical nutrition industry are also expected to propel the market growth over the forecast years. Activities by the manufacturers such as acquisitions, mergers, product launches, and partnerships to enhance their product reach are expected to propel market growth over the coming years. For instance, in January 2020, Nestle entered into an Asset Purchase Agreement to expand its business of clinical nutrition by acquiring Zenpen.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

Pediatric Vaccines Market - The global pediatric vaccines market size was estimated at USD 22.4 billion in 2016. An increase in government and non-government funding for the development of novel vaccines, along with initiatives for raising awareness about immunization, is likely to have a positive impact on market growth.
Geriatric Medicine Market - The global geriatric medicine market was valued at nearly USD 540 billion in 2015. One of the key factors attributing to its rapid growth includes rapidly increasing geriatric population base. According to the estimates published by the United Nations in 2012, the global geriatric population was estimated to be nearly 809.4 million, and is anticipated to reach nearly 1.13 billion by 2022 and exceed a value of over 2 billion by 2050.

Medical Foods Market Segmentation

Grand View Research has segmented the global medical foods market on the basis of route of administration, product, application, sales channel, and region:

Medical Foods Route of Administration Outlook (Revenue, USD Million, 2016 - 2030)

Oral
Enteral

Medical Foods Product Outlook (Revenue, USD Million, 2016 - 2030)

Pills
Powder
Liquid
Others

Medical Foods Application Outlook (Revenue, USD Million, 2016 - 2030)

Chronic Kidney Disease
Minimal Hepatic Encephalopathy
Chemotherapy-induced Diarrhea
Pathogen Related Infections
Diabetic Neuropathy
ADHD
Depression
Alzheimer's Disease
Nutritional Deficiency
Orphan Diseases
- Phenylketonuria
- Eosinophilic Esophagitis
- FPIES
- MSUD
- Homocystinuria
- Tyrosinemia
- Others
Wound Healing
Chronic Diarrhea
Constipation Relief
Protein Booster
Dysphagia
Pain Management
Parkinson's Disease
Epilepsy
Other Cancer Related Treatments
Severe Protein Allergy
Other

Medical Foods Sales Channel Outlook (Revenue, USD Million, 2016 - 2030)

Online Sales
Institutional Sales
Retail Sales

Medical Foods Regional Outlook (Revenue, USD Million, 2016 - 2030)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Market Share Insights

January 2022: Danone launched Souvenaid, a powder version of medical nutrition drink.
August 2020: Nestle Health Science acquired IM HealthScience to expand its medical food portfolio. The companies are also focusing on new product development to broaden their product portfolio for different indications, which assists to hold a strong grip on the market.

Key Companies profiled:

Some prominent players in the global medical foods market include

Nestle
Danone
Abbott
Mead Johnson & Company, LLC
Fresenius Kabi
Targeted Medical Pharma, Inc.
Primus Pharmaceuticals, Inc.
Medtrition, Inc.

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

Monday 20 June 2022

Healthcare IT Market Is Estimated To Grow As Of Rising Demand For Preventive Care Solutions To 2030

Healthcare IT Industry Overview

The global healthcare IT market size was valued at USD 135.6 billion in 2021 and is projected to exhibit a CAGR of 29.3% in the forecast period. The growing trend of digitalization in healthcare, rising demand for preventive care solutions, the emergence of various entrepreneurship ventures, and growing partnerships & funding are propelling the market growth.

Furthermore, the evolution and advancements in network connectivity and development of network infrastructure coupled with increased healthcare IT spending are driving the market growth. Key participants are focusing on innovative product development strategies and are making constant technological advancements with support from improving IT infrastructure. Market players are integrating big data, Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) algorithms in their existing solutions to enhance health & medical processes, which is fueling the market growth.

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Growing healthcare expenditure coupled with rising consumer demand for efficient, effective, and advanced treatment solutions is supporting the development and growth of the market. Increasing consumer awareness towards innovative and upgraded solutions is boosting market growth over the forthcoming years. As per a Healthcare IT News article published in 2020, healthcare IT services have witnessed an upsurge in adoption over the past years, whilst remote monitoring services recorded an increment in adoption from 13% in 2016 to 22% in 2019.

Growing smartphone penetration and improving internet coverage are directly contributing to the adoption of healthcare IT solutions. According to Data Report January 2022 estimates, 5.31 billion individuals globally are unique mobile phone years and approximately 4.95 billion individuals are internet users. In addition, as per The Mobile Economy 2020 estimates, the unique mobile phone users are expected to reach 5.8 billion by 2025. In addition, the number of internet users across the globe increased by 192 million in 2021 in comparison to 2020, and globally, the number of internet users is growing at 4% annually. Furthermore, technological advancements in the field of smartphones and internet connectivity to improve clinical outcomes, patient experience, and patient engagement is expected to accelerate market growth.

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

Telehealth Market - The global telehealth market size was valued at USD 62.4 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 36.5% from 2022 to 2028. The rising penetration of internet networks and innovation in the smartphone space to enhance global connectivity has enabled addressing gaps in care delivery and availing telehealth services more conveniently.
Artificial Intelligence Market - The global artificial intelligence market size was valued at USD 93.5 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 38.1% from 2022 to 2030.

Healthcare IT Market Segmentation

Grand View Research has segmented the market based on application, and region:

Healthcare IT Application Outlook (Revenue, USD Million, 2016 - 2030)

Electronic Health Records
Computerized Provider Order Entry Systems
Electronic Prescribing Systems
PACS
Laboratory Information Systems
Clinical Information Systems
Tele-healthcare

Healthcare IT Regional Outlook (Revenue, USD Million, 2016 - 2030)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Key Companies profiled:

Some prominent players in the global healthcare IT market include

Philips Healthcare
Agfa Healthcare
Hewlett-Packard Enterprise
Carestream Health
GE Healthcare
E-MDS, Inc.
Athenahealth, Inc.
eClinicalworks
McKesson Corporation

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Contrast Media Market Is Expected To Rise On Account Of The Growing Prevalence Of Complex Comorbidities To 2030

Contrast Media Industry Overview

The global contrast media market size was valued at USD 4.04 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.33% from 2022 to 2030.

The growing prevalence of complex comorbidities and long-term diseases has led to an increase in diagnostic imaging tests, including ultrasound, X-rays, and advanced imaging technology such as MRI & CT scans. According to the National Health Council, in 2020, nearly 157 million people in the U.S. were affected by chronic diseases, out of which around 81 million had multiple conditions, which is indicative of a high incidence of chronic conditions.

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The prevalence of chronic conditions with multiple comorbidities is higher among older adults. According to the National Council on Aging, nearly 80% of people aged 65 & above suffer from at least one chronic condition, with almost 70% of Medicare beneficiaries suffering from more than 2 chronic conditions, and nearly 77.0 million people in the U.S. are estimated to be aged 65 & above by 2034.

Furthermore, according to a report by the American Heart Association, the incidence of heart failure is increasing in the U.S., and it is one of the leading causes of death in the country. In 2020, approximately 659,000 people died due to cardiovascular diseases in the U.S. By 2030, the number of people with heart diseases is estimated to increase by 46%.

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

Magnetic Resonance Imaging Market - The global magnetic resonance imaging market size was valued at USD 5.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2021 to 2028.
Computed Tomography Market - The global computed tomography (CT) market size was valued at USD 5.53 billion in 2018 and is projected to expand at a CAGR of 6.5% by 2026. The growing prevalence of various lifestyles associated with chronic diseases such as cancer and cardiovascular conditions and increasing demand for advanced imaging solutions are some of the factors expected to drive the overall market growth.

Contrast Media Market Segmentation

Grand View Research has segmented the global contrast media market based on modality, product type, application, and region:

Contrast Media Modality Outlook (Revenue, USD Million, 2017 - 2030)

X-ray/CT
MRI
Ultrasound

Contrast Media Product Type Outlook (Revenue, USD Million, 2017 - 2030)

Iodinated
Barium-based
Gadolinium-based
Microbubble

Contrast Media Application Outlook (Revenue, USD Million, 2017 - 2030)

Cardiovascular Disorders
Neurological Disorders
Gastrointestinal Disorders
Cancer
Nephrological Disorders
Musculoskeletal Disorders
Others

Contrast Media Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Market Share Insights

December 2021: Previously GE Healthcare announced acquisition of BK Medical has been finalized. With this acquisition, GE Healthcare enhances its pre-and post-operative ultrasound capabilities to encompass real-time surgical viewing, a fast-growing and relatively new discipline.
November 2019: GE Healthcare received the U.S. FDA approval for Clariscan, a contrast agent used for macrocyclic MRI. These products help in identifying the need for perioperative scans prior to surgeries and treatment in interventional procedures, which is likely to boost the market growth.

Key Companies profiled:

Some prominent players in the global contrast media market include

Bayer AG
General Electric Company
Guerbet
Bracco Diagnostic, Inc.
Nano Therapeutics Pvt. Ltd.
Lantheus Medical Imaging, Inc.
iMax
Trivitron Healthcare

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Friday 17 June 2022

Wearable Medical Device Market Is Anticipated To Influence Growth Based On Remote Patient Monitoring Devices

Wearable Medical Device Industry Overview

The global wearable medical device market size was valued at USD 21.3 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 28.1% from 2022 to 2030. The growth of industries such as home healthcare and remote patient monitoring devices is anticipated to influence market growth. In addition, increasing focus on fitness and a healthy lifestyle orientation are also expected to impact the market. A surge in product demand during the COVID-19 pandemic and increasing awareness about personal health monitoring are expected to be some of the major market drivers.

Also, due to the sedentary routine, the incidence and prevalence of lifestyle-associated disorders, such as diabetes and hypertension, are projected to increase over the forecast period. Some of these diseases demand continuous monitoring of several physiological parameters, for instance, blood sugar levels and blood pressure. This allows the amalgamation of healthcare data with portable medical devices, which can then be forwarded to physicians to have real-time access to data and minimize errors. Moreover, the rising mortality rate due to non-communicable diseases is the major reason for concern demanding more focus on personalized monitoring and care. This is ultimately anticipated to further increase the demand for wearable medical products.

Gather more insights about the market drivers, restrains and growth of the Global Wearable Medical Device Market

The outbreak of the COVID-19 pandemic has extended the role of wearable medical devices in the healthcare trade. Various companies are entering the landscape, with innovative wearable products that can help detect the early warning signs of viral infections. For example, Ava Bracelet, which is primarily used as a fertility tracker, is now being leveraged to help in combating the coronavirus. This bracelet tracks heart rate variability, breathing rate, and skin temperature making it useful in tracking symptoms of the virus. This offers a unique opportunity during this pandemic.

The rising prevalence of chronic diseases along with increasing mortality rates is a major area of concern among people as well as government organizations. Thus, healthcare providers are offering personalized care including continuous and remote patient monitoring. Also, these can be worn for 24 hours without affecting the routine life. Hence, considering the various advantages that it offers, the demand for wearable medical devices is projected to boost over the forecast period.

Increasing attention on fitness is a high-impact rendering driver for the market. Various wearable medical products and software have been developed for the management of weight and fitness. Usually, wristbands are connected with cell phones that display real-time tracking of activities such as steps walked, calories burned, calorie intake, miles a person ran, etc. By compiling all the data together, vital information such as the body mass index is obtained. The regular study of these statistics helps in providing a good health plan to individuals as well as healthcare professionals. Also, the fitness club count is seen increasing in recent years. According to the 2019 IHRSA Global Report, there are around 183 million users of fitness clubs globally.

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

Home Healthcare Market - The global home healthcare market size was valued at USD 320.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.9% from 2022 to 2030. The growing geriatric population and rising incidence of target diseases such as dementia and Alzheimer’s as well as orthopedic diseases are factors expected to fuel market growth.
Remote Patient Monitoring System Market - The global remote patient monitoring system market size was valued at USD 1,282.0 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 20.2% from 2022 to 2030. The outbreak of COVID-19 has caused a significant impact on the remote patient monitoring system.

Wearable Medical Device Market Segmentation

Grand View Research has segmented the global wearable medical devices market based on product, site, application, and region:

Wearable Medical Devices Product Outlook (Revenue, USD Billion, 2018 - 2030)

Diagnostic Devices
- Vital Sign Monitoring Devices
  - Heart Rate Monitors
  - Activity Monitors
  - Electrocardiographs
  - Pulse Oximeters
  - Spirometers
  - Blood Pressure Monitors
  - Others
- Sleep Monitoring Devices
  - Sleep trackers
  - Wrist Actigraphs
  - Polysomnographs
  - Others
- Electrocardiographs Fetal And Obstetric Devices
- Neuromonitoring Devices
  - Electroencephalographs
  - Electromyographs
  - Others
- Therapeutic Devices
  - Pain Management
    - Neurostimulation
    - Others
  - Insulin/Glucose Monitoring
    - Insulin Pumps
    - Others
  - Rehabilitation
    - Accelerometers
    - Sensing
    - Ultrasound Platform
    - Others
  - Respiratory Therapy
    - Ventilators
    - Positive Airway Pressure (PAP) Devices
    - Portable Oxygen Concentrators
    - Others

Wearable Medical Devices Site Outlook (Revenue, USD Billion, 2018 - 2030)

Handheld
Headband
Strap/Clip/Bracelet
Shoe Sensors
Others

Wearable Medical Devices Application Outlook (Revenue, USD Billion, 2018 - 2030)

Sports And Fitness
Remote Patient Monitoring
Home Healthcare

Wearable Medical Devices Regional Outlook (Revenue, USD Billion, 2018 - 2030)

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

Market Share Insights

November 2020: Royal Philips and African Union announced a partnership to strengthen healthcare infrastructure and enhance access to care in African Union Member States by improving access to medical equipment.
November 2020: The company announced the introduction of Philips Ventilator BiPAP A40 EFL. This initiative would help the company in expanding its home healthcare portfolio for COPD patients.

Key Companies profiled:

Some prominent players in the global wearable medical device market include

Philips Electronics
Fitbit
Basis Science
Garmin
Covidien
Omron Corp.
Withings
Vital Connect
Polar Electro
verist Genomics
Intelesens Ltd.
Sotera Wireless

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Thursday 16 June 2022

U.S. IVD & LDT For Autoimmune Diseases Market Is Expected To Rise Due To Increasing Sophisticated Healthcare Facilities

U.S. IVD & LDT For Autoimmune Diseases Industry Overview

The U.S. IVD and LDT for autoimmune diseases market was valued at USD 4.0 billion in 2015 and is expected to reach USD 4.74 billion by 2024. The market growth is attributed to rising occurrence of autoimmune diseases & cancers and technological advances in diagnostic techniques. The IVD market in the U.S. is one of the largest due to the high investments made in the R&D, sophisticated healthcare facilities, and increasing awareness about the early diagnosis of these diseases.

The American Autoimmune Related Diseases Association, Inc. (AARDA) estimates that around 50 million Americans suffer from autoimmune disorders. It is amongst the top cause of deaths in women in the U.S. There are around more than 80 autoimmune diseases and some commonly occurring ones are rheumatoid arthritis, psoriasis, Grave’s disease, systemic lupus erythematosus, type-1 diabetes, etc. The occurrence of such ailments is expanding, acting as a driving force for the growth of the market in the U.S.

Gather more insights about the market drivers, restrains and growth of the U.S. IVD & LDT For Autoimmune Diseases Market

These conditions occupy a significant portion of the rising healthcare costs in the U.S. There is a growing need for early diagnosis and preventive screening for these health hazards. The expanding research in molecular diagnostics and adoption of advanced technology in diagnosis are further driving growth. The market is anticipated to further witness growth due to FDA oversight pertaining to the quality and consistency of these tests and several changes in the standards pertaining to the Next-Generation Sequencing (NGS) based tests.

Browse through Grand View Research's Clinical Diagnostics Industry Research Reports.

In Vitro Diagnostics Market - The global in vitro diagnostic market size was valued at USD 111.67 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 0.2 % from 2022 to 2030. The growth can be attributed to the increasing adoption of IVDowing to the rise in testing due to the pandemic. The development of automated IVD systems for laboratories and hospitals to provide efficient, accurate, and error-free diagnoses is expected to fuel the market growth.
Molecular Diagnostics Market - The global molecular diagnostics market size was valued at USD 37.04 billion in 2021 and is expected to decline at a compound annual growth rate (CAGR) of -1.6% from 2022 to 2030. The shrinking of the market can be attributed to the decline in demand for molecular COVID-19 testing during the forecast period.

U.S. IVD & LDT For Autoimmune Diseases Market Segmentation

Grand View Research has segmented the U.S. IVD and LDT for autoimmune diseases market by application and technology:

U.S. IVD and LDT for Autoimmune Diseases Market: Application Outlook (Market Revenue in USD Billion, 2013 - 2024)

Addison’s Disease
Ankylosing Spondylitis
Alopecia Areata
Rheumatoid Arthritis
Systemic Lupus Erythematosus
Systemic Sclerosis
Psoriasis
Antiphospholipid Antibody Syndrome
Diabetes Type 1
Crohn’s Disease
Ulcerative Colitis
Narcolepsy
Multiple Sclerosis
Uveitis
Others

U.S. IVD and LDT for Autoimmune Diseases Market: Technology Outlook (Market Revenue in USD Billion, 2013 - 2024)

Immunoassays
Clinical Chemistry
Hematology
Coagulation
Microbiology
Molecular Diagnostics

Key Companies profiled:

Some prominent players in the U.S. IVD & LDT for autoimmune diseases market include

Abbott, Roche Diagnostics
Siemens Healthcare GmbH
SQI Diagnostics
Bio-Rad Laboratories, Inc.
Omega Diagnostics Group PLC
Beckton Dickinson & Company

Order a free sample PDF of the U.S. IVD & LDT For Autoimmune Diseases Market Intelligence Study, published by Grand View Research.