Clinical Trial Supplies Market Innovations Are Enhancing Efficiency And Compliance

Clinical Trial Supplies Industry Overview

The global clinical trial supplies market size was estimated at USD 2.58 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030. Globalization, and rise in the number of biologics & biosimilar drugs in clinical trials are among the major factors expected to drive the market growth. Rapid adoption of a supply chain management system to surmount R&D expenditure pressure and increase operational efficiency, as clinical trial supplies account for a large share of the total R&D expenditure of biopharmaceutical companies, is anticipated to propel market growth in near future. There has been a significant rise in biologics and temperature-sensitive drugs in clinical trials.

Gather more insights about the market drivers, restrains and growth of the Clinical Trial Supplies Market

Most clinical trials are currently being conducted in developing economies. The increasing cost of clinical trials and complications in the recruitment of patients have encouraged biopharmaceutical companies to outsource clinical trials to regions such as Asia Pacific, Latin America, Central & Eastern Europe, and the Middle East. Disease variation in developing economies further aids biopharmaceutical companies in performing clinical trials on rare diseases. Some regions, such as Asia Pacific, also provide greater economic benefits to biopharmaceutical companies, as governments in Singapore and China allocate funds to promote biomedical research. In Latin America, patient recruitment is easy due to reduced language barriers, which can help obtain informed consent easily, resulting in a faster clinical trial process.

There has been a significant investment in supply chain management software by clinical trial supply providers. Growing complexity in clinical trials and increased competition among market players are factors responsible for adopting new technologies in supply chain management. The need for software for inventory management, supply chain planning, and ancillary supply chain management is expected to grow, owing to industry players' increasing adoption of new technologies. For instance, in pharmaceutical manufacturing, the application of digital twin technology facilitates the expedited development of drugs, which is achieved by using real-world data to generate simulations within a laboratory setting, enabling scientists to anticipate responses to biological processes under specific circumstances.

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

• The global urometer market size was valued at USD 528.4 million in 2023 and is projected to grow at a CAGR of 7.1% from 2024 to 2030. This is attributable to the rising prevalence of urological illnesses, which includes kidney stones, urinary retention, cystitis, benign prostatic hyperplasia, urine incontinence, and bladder dysfunction.

• The global proton therapy systems market size was valued at USD 749.5 million in 2023 and is projected to grow at a CAGR of 7.3% from 2024 to 2030. The factors driving market growth include rising cancer incidences, the rising number of proton therapy centers, and higher efficiency offered by the systems for the treatment.

Clinical Trial Supplies Market Segmentation

Grand View Research has segmented the global clinical trial supplies market based on clinical phase, product/service, end-use, therapeutic use, and region:

Clinical Trial Supplies Clinical Phase Outlook (Revenue, USD Billion, 2018 - 2030)
• Phase I
• Phase II
• Phase III
• Others

Clinical Trial Supplies Product/Service Outlook (Revenue, USD Billion, 2018 - 2030)
• Manufacturing
• Storage & distribution
o Cold chain based
o Non-cold chain based
• Supply chain management

Clinical Trial Supplies End-Use Outlook (Revenue, USD Billion, 2018 - 2030)
• Pharmaceuticals
• Biologics
• Medical device
• Others

Clinical Trial Supplies Therapeutic Use Outlook (Revenue, USD Billion, 2018 - 2030)
• Oncology
• CNS
• Cardiovascular
• Infectious disease
• Metabolic disorders
• Others

Clinical Trial Supplies Regional Outlook (Revenue, USD Billion, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Denmark
o Sweden
o Norway
• Asia Pacific
o Japan
o China
o India
o Australia
o South Korea
o Thailand
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
o Kuwait

Order a free sample PDF of the Clinical Trial Supplies Market Intelligence Study, published by Grand View Research.

Key Companies profiled:
• Almac Group
• Biocair
• Catalent Inc.
• KLIFO
• Movianto
• PCI Pharma Services
• Sharp Services, LLC
• Thermo Fischer Scientific Inc.
• Marken
• PAREXEL International Corporation

Recent Developments

• In February 2023, Catalent completed a USD 2.2 million expansion of its clinical supply facility in Singapore. This expansion has enlarged the site's footprint to 31,000 square feet, providing room for installing 35 new freezers dedicated to ultra-low temperature (ULT) storage.

• In January 2023, ASLAN Pharmaceuticals and Thermo Fisher Scientific entered into a partnership to manufacture a high concentration formulation of Eblasakimab for upcoming studies. Thermo Fisher Scientific will contribute its expertise in biologic manufacturing and scale-up capacity to oversee a clinical supply of Eblasakimab for the anticipated Phase 3 studies.

• In July 2023, Almac Sciences announced the opening of a custom-built GMP warehouse and dispatch hub at Almac Group’s global headquarters in Craigavon, UK. The facility will support all the manufacturing and lab activities of Active Pharmaceutical Ingredients from development to their commercialization.

Antibody Drug Conjugates Market To Grow As Of Increasing Adoption In Hematologic Malignancies

 Antibody Drug Conjugates Industry Overview

The global antibody drug conjugates market size was estimated at USD 11.29 billion in 2023 and is projected to grow at a CAGR of 9.2% from 2024 to 2030. This can be attributed to the presence of a robust R&D pipeline. This, coupled with the growing incidence of cancer and increased demand for low-toxicity & effective drugs, is expected to drive market growth. Some of the key Antibody Drug Conjugates (ADCs) currently available in the market are Kadcyla (Genentech/Roche), Adcetris (Seattle Genetics), Enhertu (AstraZeneca/Daiichi Sankyo), Besponsa (Pfizer), Mylotarg (Pfizer), and Polivy (Genentech/Roche). ADCs are a novel category of drugs composed of an antibody linked-via a chemical linker-to a cytotoxic drug.

Gather more insights about the market drivers, restrains and growth of the Antibody Drug Conjugates Market

Conventional chemotherapy is intended to eradicate fast-growing tumor cells. However, it can also damage healthy proliferating cells, which may produce undesirable effects. In contrast, ADC is designed to upsurge the efficacy of treatment and decrease systemic toxicity. In this market, the landscape is influenced by reimbursement policies, a crucial factor in developed economies. The production and research costs of ADC drugs are high compared to conventional treatments, such as monoclonal antibodies and chemotherapy. This results in a higher overall treatment cost, which poses a challenge for reimbursement coverage. For instance, a negative review was given by the National Centre for Pharmacoeconomics in Ireland in February 2020 for Roche's Kadcyla (trastuzumab emtansine).

The review was based on the drug's perceived low cost-effectiveness, indicating a potential trend where expensive ADC treatments may face obstacles in gaining reimbursement approval. This dynamic highlights the delicate balance between innovation, cost, and access to cutting-edge medical solutions in the market. In contrast, some countries considered such costly ADC drugs for reimbursement due to high disease prevalence. In April 2021, the UK’s Cancer Drug Fund approved Enhertu (trastuzumab deruxtecan) for the reimbursement of Metastatic Breast Cancer (MBC) treatment. However, countries, such as Scotland, Northern Ireland, and Wales, are yet to provide reimbursement approval for the same. The lack of availability of reimbursement policies in developing economies, such as India and China, might restrict market growth.

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

• The global angina pectoris drugs market size was valued at USD 11.37 billion in 2023 and is projected to grow at a CAGR of 4.0% from 2024 to 2030. Advancements in personalized cardiovascular medicine and novel drug delivery systems are driving market expansion.

• The global pediatric vaccines market size was valued at USD 44.87 billion in 2023 and is projected to grow at a CAGR of 4.1% from 2024 to 2030. This is due to increased awareness of the benefits of vaccines worldwide, resulting in higher demand for childhood vaccines.

Antibody Drug Conjugates Market Segmentation

Grand View Research has segmented the global antibody drug conjugates market based on application, product, target, technology, and region:

Antibody Drug Conjugates Application Outlook (Revenue, USD Million, 2018 - 2030)
• Blood Cancer
o Leukemia
o Lymphoma
o Multiple Myeloma
• Breast Cancer
• Urothelial Cancer & Bladder Cancer
• Other Cancer

Antibody Drug Conjugates Product Outlook (Revenue, USD Million, 2018 - 2030)
• Kadcyla
• Enhertu
• Adcetris
• Padcev
• Trodelvy
• Polivy
• Others

Antibody Drug Conjugates Target Outlook (Revenue, USD Million, 2018 - 2030)
• HER2
• CD22
• CD30
• Others

Antibody Drug Conjugates Technology Outlook (Revenue, USD Million, 2018 - 2030)
• Type
o Cleavable Linker
o Non-cleavable Linker
o Linkerless
• Linker Technology Type
o VC
o Sulfo-SPDB
o VA
o Hydrazone
o Others
• Payload Technology
o MMAE
o MMAF
o DM4
o Camptothecin
o Others

Antibody Drug Conjugates Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Denmark
o Sweden
o Norway
• Asia Pacific
o Japan
o China
o India
o Australia
o South Korea
o Thailand
• Latin America
o Brazil
o Mexico
o Argentina
• MEA
o South Africa
o Saudi Arabia
o UAE
o Kuwait

Order a free sample PDF of the Antibody Drug Conjugates Market Intelligence Study, published by Grand View Research.

Key Companies profiled:
• Seagen, Inc.
• Takeda Pharmaceutical Company Ltd.
• AstraZeneca
• F. Hoffmann-La Roche Ltd.
• Pfizer, Inc.
• Gilead Sciences, Inc.
• Daiichi Sankyo Company Ltd.
• GlaxoSmithKline Plc
• Astellas Pharma, Inc.
• ADC Therapeutics SA

Recent Developments

• In January 2024, Celltrion, Inc., and WuXi XDC signed a Memorandum of Understanding (MOU) for integrated services for ADCs, which includes the development & manufacturing of ADCs

• In January 2024, Jonhson & Johnson Services, Inc., acquired Ambrx Biopharma, Inc., which has a proprietary ADC technology to develop next-generation novel ADCs for the treatment of cancers. J&J aims to focus on its portfolio of prostate cancer while making use of this proprietary technology

• In January 2024, MediLink Therapeutics and F.Hoffmann-La Roche Ltd. entered into a license agreement and collaboration to develop a next-generation ADC, YL211

• In October 2023, BioNTech entered a licensing agreement with MediLink Therapeutics for an antibody-drug conjugate targeting HER3 in cancers. BioNTech paid MediLink USD70 million upfront, with potential milestone-based payments of up to USD 1 billion. The deal grants BioNTech global rights for development, manufacturing, and commercialization, while MediLink retains rights in Mainland China, Hong Kong, and Macau. This collaboration highlights the growing significance of ADCs in cancer treatment, with the financial infusion reflecting industry confidence in the potential therapeutic impact

• In July 2023, BeiGene secured an exclusive option for the global license of an investigational ADC. This move is set to shape the market landscape as it allows DualityBio to sustain its preclinical research activities and provide support for the Investigational New Drug filing. This strategic acquisition is indicative of the evolving dynamics in the ADC market, reflecting a potential shift in the competitive landscape

Enteral Feeding Market Overview and Comprehensive Analysis Report to 2030

  

Enteral Feeding Devices Industry Overview

 

The global enteral feeding devices market size was valued at USD 4.3 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2030. Growing geriatric population has resulted in increased incidences of diabetes, severe pancreatitis, and other gastrointestinal diseases, which aids market growth.

 

Adoption of the “Feed Early Enteral Diet Adequately for Maximum Effect” (FEED ME) protocol in surgical trauma ICUs in the U.S. enables subsidies on these devices. Technological advancements such as the introduction of tri-funnel replacement G-tubes and J-tubes with reverse balloon designs are also expected to aid in growth during the forecast period.

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

 

Numerous NCBI studies suggest that people over 65 years pose a higher risk of developing chronic illnesses including Parkinson’s and nervous system disorders. The global population aged 60 years and older is expected to increase from around 1 billion in 2020 to about 1.4 billion in 2030 and is expected to double by 2050 to reach around 2.1 billion. The number of elderly patients with critical illnesses has increased significantly over the past few years.

 

The risk of malnutrition and frailty among the geriatric population with comorbidities, such as stroke, depression, and dementia, is much higher, mainly owing to various age-related changes in body composition and muscle mass. This results in a reduced ability to perform Activities of Daily Living (ADLs), thereby increasing the risk of falls or injuries.

 

Key Companies profiled:

 

• Conmed Corporation
• C.R.Bard
• Cook Medical
• Boston Scientific Corporation
• Moog Inc.
• Fresenius Kabi AG
• Danone Medical Nutrition
• Kimberly-Clark
• Abbott Nutrition
• B Braun Melsungen AG
• Avanos Medical, Inc.
• Cardinal Health
• Applied Medical Technology, Inc.
• Vygon India
• Fidmi Medical
• ALCOR Scientific
• Amsino International, Inc.

 

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

 

• The global pressure monitoring market size was estimated at USD 11.6 billion in 2023 and is projected to grow at a CAGR of 8.4% from 2024 to 2030. The increasing prevalence of chronic diseases, such as hypertension, cardiovascular diseases, and respiratory disorders, has significantly boosted the demand for pressure monitoring devices.

 

• The global intravascular ultrasound market size was estimated at USD 807.8 million in 2023 and is projected to grow at a CAGR of 5.2% from 2024 to 2030. The rising demand for effective diagnostic cardiovascular imaging techniques due to a rise in the incidence of cardiovascular diseases (CVDs) is one of the high impact-rendering factors resulting in greater adoption of intravascular ultrasound (IVUS) devices.

Enteral Feeding Devices Market Segmentation

 

Grand view research has segmented the global enteral feeding devices market based on product, age group, indication, end-use, and region:

 

Enteral Feeding Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Giving Set
• Enteral Feeding Pump
• Percutaneous Endoscopic Gastrostomy Device
• Low Profile Gastrostomy Device
• Nasogastric Tube
• Gastrostomy Tube

 

Enteral Feeding Devices Age Group Outlook (Revenue, USD Million, 2018 - 2030)

• Adults
• Pediatrics

 

Enteral Feeding Devices Indication Outlook (Revenue, USD Million, 2018 - 2030)

• Alzheimer’s
• Nutrition Deficiency
• Cancer Care
• Diabetes
• Chronic Kidney Diseases
• Orphan Diseases
• Dysphagia
• Pain Management
• Malabsorption/GI Disorder/Diarrhea
• Others

 

Enteral Feeding Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
o Cardiology
o Neurology
o Critical Care (ICU)
o Oncology
o Others
• Home Care

 

Enteral Feeding Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Spain `
o Italy
o Russia
o Sweden
o Norway
o Denmark
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Thailand
o Singapore
• Latin America
o Brazil
o Mexico
o Argentina
• MEA
o South Africa
o Saudi Arabia
o UAE
o Kuwait

Order a free sample PDF of the Enteral Feeding Devices Market Intelligence Study, published by Grand View Research.

Recent Developments

 

• In September 2023, Cardinal Health launched Kangaroo OMNI enteral feeding pump, intended to give patients undergoing enteral feeding more options to suit their individual needs over the course of their enteral feeding journey.

 

• In August 2023, Cardinal Health launched its next-generation NTrainerTM System 2.0, a medical device intended to shorten the length of stay in the neonatal intensive care unit (NICU) for premature and newborn infants by assisting them in developing the oral coordination skills necessary for the transition to independent feeding more quickly. The NTrainerTM System gives parents confidence in their newborns' progress and potential for success after discharge by giving clinicians the objective data they need to monitor an infant's development of pre-feeding skills through real-time assessment technology.

Continuous Glucose Monitoring Devices Market: Growth Drivers and Challenges

  

Continuous Glucose Monitoring Devices Industry Overview

 

The global continuous glucose monitoring devices market size was estimated to be valued at USD 4.60 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.19% from 2024 to 2030. The increase in the prevalence of diabetes due to aging, obesity, and unhealthy lifestyle is one of the factors contributing to the growth of the continuous glucose monitoring (CGM) devices market. Obesity is a major factor leading to diabetes.

According to WHO, in 2022, the number of obese individuals worldwide exceeded 1 billion, including 650 million adults, 340 million adolescents, and 39 million children. This number continues to grow. If things continue as they are, WHO predicts that by 2025, around 167 million people, both adults and children, will experience worsening health problems due to their weight issues. In addition to obesity, diabetes is becoming increasingly prevalent globally.

 

The International Diabetes Federation (IDF) estimates that there were 537 million adults (aged 20–79) living with diabetes in 2021, and this number is expected to increase to 642 million by 2040. The IDF also reports that the prevalence of diabetes is growing globally, with the highest increase witnessed in low- and middle-income countries.

 

Gather more insights about the market drivers, restrains and growth of the Continuous Glucose Monitoring Devices Market

 

CGM devices are minimally invasive and offer an easy and effective way to manage diabetes. They can also detect drastic changes in blood glucose levels, thereby preventing hypoglycemic conditions. The CGM devices facilitate the analysis of blood glucose levels at different time intervals with the help of a sensor. Respective readings fed into the diabetes management software through a wireless network allow patients to understand the disease better, thereby helping them to manage it in a more effective way. Smoking, obesity, physical inactivity, high blood pressure, and high cholesterol are the common risk factors associated with diabetes complications.

The increasing incidence of prediabetes is also fueling the market growth. Prediabetes is a condition in which sugar levels in blood are higher than normal but not high enough to be classified as type 2 diabetes. It is a serious health condition that can increase the risk of developing type 2 diabetes, heart disease, and stroke. Unfortunately, the number of people diagnosed with prediabetes is rapidly growing. The main reason for the increase in prediabetes cases is the rise in obesity rates. Obesity is a major risk factor for developing prediabetes and type 2 diabetes. As more and more people adopt a sedentary lifestyle and consume unhealthy diet, the prevalence of obesity increases, which in turn leads to a rise in prediabetes cases. According to the CDC and the U.S. Department of Health & Human Services, it is estimated that 97.6 million adults in the U.S. 18 years or above had prediabetes in 2021.

As the geriatric population continues to grow, the demand for CGM devices is also increasing. CGM devices are vital for people with diabetes, especially elderly individuals who may not be able to monitor their blood glucose levels as frequently as required. These devices provide real-time glucose readings and help patients and healthcare professionals manage their diabetes more effectively. As a result, the market is expected to significantly grow in the coming years due to the increasing prevalence of diabetes and the growing need for better disease management tools. According to WHO, chronic conditions, such as diabetes, are highly prevalent in people aged 65 and above.

 

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

 

• The global continuous peripheral nerve block catheters market size was estimated at USD 302.03 million in 2023 and is projected to grow at a CAGR of 4.2% from 2024 to 2030. The growth is driven by the rising number of surgical procedures and a growing geriatric population, which is more prone to health conditions. As the Department of Economic and Social Affairs reported, the global population aged 65 and over is expected to more than double, increasing from 761 million in 2021 to 1.6 billion by 2050.

• The global cardiac rehabilitation market size was valued at USD 2.2 billion in 2023 and is projected to grow at a CAGR of 6.0% from 2024 to 2030. The growth is driven by increasing prevalence of cardiovascular diseases (CVDs) along with an increase in obesity and unhealthy lifestyle. The increasing awareness among people to emphasize the importance of cardiac care and heart disease is fueling the growth. Various rehabilitation programs are organized by several healthcare institutes and the government to reduce the burden of cardiovascular disease.

 

Continuous Glucose Monitoring Devices Market Segmentation

 

Grand View Research has segmented continuous glucose monitoring devices market based on component, connectivity, end use, and region.

Continuous Glucose Monitoring Device Component Outlook (Revenue, USD Million, 2018 - 2030)

• Transmitters
• Sensors
• Receivers

 

Continuous Glucose Monitoring Device Connectivity Outlook (Revenue, USD Million, 2018 - 2030)

• Bluetooth
• 4G

Continuous Glucose Monitoring Device End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Homecare Settings
• Others

 

Continuous Glucose Monitoring Device Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o Italy
o France
o Spain
o Sweden
o Denmark
o Norway
• Asia Pacific
o India
o China
o Japan
o Thailand
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
o Kuwait

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

 

Key Companies profiled:

 

• Dexcom, Inc.
• Abbott
• Medtronic
• Ypsomed AG
• Senseonics Holdings, Inc.
• A. Menarini Diagnostics S.r.l.
• Signos, Inc.

 

Recent Developments

 

• In January 2024, Medtronic plc declared that their MiniMed 780G system with Simplera Sync received the CE Mark approval. Simplera Sync is a technology that enhances the user experience through a simplified two-step insertion process. IN addition, this new sensor is half the size of its precursors. The MiniMed 780G system with Simplera Sync sensor is anticipated to be launched in Europe through a limited release in the spring of 2024, followed by a phased commercial launch in the summer of the same year

• In December 2023, Dexcom, Inc. announced the integration of Dexcom G7 CGM with tslim X2 insulin pump by Tandem Diabetes Care

• In October 2023, Dexcom, Inc. expanded its presence in Canada by launching Dexcom G7.

• In September 2023, Senseonics Holdings, Inc. announced the completion of the ENHANCE Pivotal Clinical Study. It demonstrated the accurate and safe performance of Eversense to facilitate effective and lasting diabetes management.

• In April 2023, Medtronic Inc. announced the U.S. FDA approval for its MiniMed 780G system with the Guardian 4 sensor

Cancer Diagnostics Market To Rise Up At Exponential Growth, Owing To Rising Initiatives Undertaken By Private And Public Organizations

 Cancer Diagnostics Industry Overview

 

The global cancer diagnostics market size was estimated at USD 107.45 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.16% from 2024 to 2030. The growth of this industry is attributed to the growing prevalence of cancer, technological advancements in diagnostics procedures, and rising initiatives undertaken by private and public organizations.

 

Moreover, increasing initiatives to develop novel imaging solutions for providing more accurate and precise diagnoses are anticipated to fuel market growth over the forecast period. For instance, in September 2022, Radiopharm Theranostics entered into collaboration with The University of Texas MD Anderson Cancer Center for the launch of Radiopharm Ventures, LLC involved in the development of novel radiopharmaceutical products.

 

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

 

Global rise in the prevalence of cancer is one of the major factors facilitating market growth. For instance, according to the Pan American Health Organization (PAHO), an estimated 20 million new cases and 10 million deaths are expected in 2023, and annual reported cases are expected to reach about 30 million by 2040. The need for development of diagnostics options that can detect the disease at an early stage, and help improve disease management and reduce mortality, is likely to propel market growth. It is also indicated that one in six women and one in five men are likely to develop cancer at some point in their lives.

In addition, the 5-year prevalence was around 50.5 million in 2020. Personalized medicine is expected to change the diagnosis and care delivery landscape as treatment planning is based on data obtained through a holistic approach.Major companies operating in the personalized medicine space are involved in several investment programs pertaining to precision medicine. Furthermore, companies providing molecular decision support systems are combining genomic data with clinical data to minimize gaps in precision medicine practice. However, cancer diagnostic tests are expensive, increasing the financial burden on families of patients.

The government insurance framework is not as well-defined in developing countries as it is in developed countries. Thus, the middle-class patient population who are not covered under any insurance (private or government) cannot afford these tests. Furthermore, many private insurance companies in developing countries do not cover the costs associated with diagnosis. As a result, the high cost of diagnosis is limiting the adoption of screening tools, especially in developing countries.

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

 

• The global hepatitis E diagnostic tests market size was estimated at USD 54.75 million in 2023 and is projected to grow at a CAGR of 4.77% from 2024 to 2030. This growth is attributed to the rising incidences of hepatitis E, increased awareness about the need for early detection, and advancement in diagnostic technologies. According to the World Health Organization (WHO), approximately 20 million people worldwide are infected with the hepatitis E virus (HEV) each year, leading to approximately 3.3 million cases of symptomatic hepatitis E.

• The global neonatal toxicology market size was estimated at USD 254.56 million in 2023 and is expected to grow at a CAGR of 10.6% from 2024 to 2030. This growth is attributed to the increasing incidence of maternal drug use, along with development of more sensitive and specific testing methods. The newborn mortality is also a rising concern governing the market growth. According to WHO estimates, 2.3 million children died in the first 20 days of life in 2022, with estimated 6500 newborn deaths per day, accounting to 47% of all child deaths below the age of 5 years. Furthermore, increasing government initiatives and availability of newborn screening programs are likely to drive market growth over the forecast period.

 

Cancer Diagnostics Market Segmentation

 

Grand View Research has segmented the global cancer diagnostics market based on product, type, application, end-use, test type, and region:

 

Cancer Diagnostics Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Instruments
o Pathology-based Instruments
o Slide Staining Systems
o Tissue Processing Systems
o Cell Processors
o PCR Instruments
o NGS Instruments
o Microarrays
o Other Pathology-based Instruments
o Imaging Instruments
o Others
• Consumables
o Antibodies
o Kits & reagents
o Probes
o Others
• Services

 

Cancer Diagnostics Type Outlook (Revenue, USD Billion, 2018 - 2030)

• IVD
o By Type
o Diagnosis
o Early Detection
o Therapy Selection
o Monitoring
o By Technology
o Polymerase Chain Reaction (PCR)
o In Situ Hybridization (ISH)
o Immunohistochemistry (IHC)
o Next-generation Sequencing (NGS)
o Microarrays
o Flow Cytometry
o Immunoassays
o Other IVD Testing Technologies
• LDT
• Imaging
o Magnetic Resonance Imaging (MRI)
o Computed Tomography (CT)
o Positron Emission Tomography (PET)
o Mammography
o Ultrasound
o Others

 

Cancer Diagnostics Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Breast Cancer
• Colorectal Cancer
• Cervical Cancer
• Lung Cancer
• Prostate Cancer
• Skin Cancer
• Blood Cancer
• Kidney Cancer
• Liver Cancer
• Pancreatic Cancer
• Ovarian Cancer
• Others

 

Cancer Diagnostics End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Hospitals
• Laboratories
• Others

Cancer Diagnostics Test Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Biopsy
o Fine-needle Aspiration
o Core Biopsy
o Surgical Biopsy
o Skin Biopsy /Punch Biopsy
o Others
• Others

 

Cancer Diagnostics Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Denmark
o Sweden
o Norway
• Asia Pacific
o China
o Japan
o India
o Thailand
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o UAE
o Kuwait

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

 

Key Companies profiled:

• Abbott
• F. Hoffmann-La Roche Ltd.
• GE Healthcare
• QIAGEN
• BD
• Koninklijke Philips N.V. (Philips)
• Siemens Healthcare GmbH
• Hologic, Inc.
• Thermo Fisher Scientific, Inc.
• Illumina, Inc.

 

Key Cancer Diagnostics Company Insights

Companies are undertaking various strategies, such as M&As, collaborations, partnerships, etc., to gain higher market share. For instance:

• In February 2023, F. Hoffmann-La Roche announced expanding its collaboration with Janssen to advance personalized healthcare by focusing on companion diagnostics.

• In April 2023, Quest Diagnostics acquired Haystack Oncology in an all-cash deal to expand MRD testing services, initially targeting colorectal, breast, and lung cancers, aiming to enhance patient outcomes through early MRD detection after treatment.

• In June 2023, Blue Earth Diagnostics received FDA approval for high-affinity radio hybrid (rh) Prostate-Specific Membrane Antigen (PSMA)-targeted PET imaging agent, POSLUMA, for prostate cancer detection and localization. It's based on innovative radio hybrid technology, providing accurate imaging and potential therapeutic applications.

North American Durable Medical Equipment Market To Create Business Opportunities Worth $114.4 Billion By 2030

 

North America Durable Medical Equipment Industry Overview

 

The North America durable medical equipment market size was valued at USD 68.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. The COVID-19 pandemic has affected the logistics and supply chain of the Durable Medical Equipment (DME). The market is majorly driven by the rising product demand due to the rising need for the product and the growing geriatric population that is prone to various chronic diseases, such as cancer, cardiovascular disorders, neurological disorders, and mobility disorders.

 

Durable medical equipment plays a major part in long-term remote care after surgery at home or any other healthcare setting. This is also estimated to propel market growth. Additionally, the stringent regulatory guidelines in developed countries and the lack of skilled professionals for this equipment are said to hinder the industry growth.

 

Gather more insights about the market drivers, restrains and growth of the North America Durable Medical Equipment Market

 

The rising chronic diseases and need for healthcare services have affected U.S. healthcare expenditure from USD 3.5 trillion in 2017 to USD 6.2 trillion in 2028 and account for 20% of the GDP. The anticipated growth in the annual spending for Medicare (7.9%) is projected to contribute significantly to the increase in the national health expenditure over the forecast period.

The COVID-19 pandemic negatively impacted the durable medical equipment market initially due to the lack of accessibility of the products to the customers. The pandemic has affected the operations and financial condition of various market players. The DME suppliers have faced interruptions in the logistics, such as significant delays and order cancellations, as a result of public health and economic emergencies related to the COVID-19 pandemic.

The rising chronic diseases have directed resulted in an increasing demand for DME. Cancer is one of the leading causes of death in the region. An estimated 608,570 Americans will die from cancer in 2021. As per the National Cancer Institute Report 2018, approximately 1.7 million people in the U.S. were diagnosed with cancer. Diabetes is another serious chronic disease that is responsible for market growth. In the U.S., 1 out of 10 people have diabetes and 11.3% of the U.S. population is living with diabetes.

The durable medical equipment users can avail reimbursement and coverage for the products are also likely to boost the growth of the market. Durable medical equipment is covered under Medicare. Medicare Part-B beneficiaries pay 20% of the approved cost of the product and the remaining 80% is paid by Medicare.

 

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

 

• The global transcatheter pulmonary valve market size was valued at USD 69.7 million in 2023 and is projected to grow at a CAGR of 5.5% from 2024 to 2030. The rising geriatric population worldwide, the increasing prevalence of cardiovascular diseases such as coronary heart disease, rheumatic heart disorders, cerebrovascular diseases, hypertensive heart diseases, and various other inflammatory heart diseases have contributed to the market growth.

 

• The global radiation detection, monitoring and safety market size was valued at USD 1.53 billion in 2023 and is projected to grow at a CAGR of 7.4% from 2024 to 2030. The rising adoption of nuclear medicine and radiation therapy as a consequence of the increasing global incidences of cancer is expected to drive the market growth over the forecast period.

North America Durable Medical Equipment Market Segmentation

 

Grand View Research has segmented the North America durable medical equipment market based on product, end-use, and region:

North America Durable Medical Equipment Product Outlook (Revenue, USD Million; 2018 - 2030)

• Personal Mobility Devices
o Wheelchairs
o Scooters
o Walker and Rollators
o Canes and Crutches
o Door Openers
o Other Devices
• Bathroom Safety Devices And Medical Furniture
o Commodes And Toilets
o Mattress & Bedding Devices
• Monitoring And Therapeutic Devices
o Blood Sugar Monitors
o Continuous Passive Motion (CPM)
o Infusion Pumps
o Nebulizers
o Oxygen Equipment
o Continuous Positive Airway Pressure (CPAP)
o Suction Pumps
o Traction Equipment
o Others Equipment

 

North America Durable Medical Equipment End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Nursing Homes
• Home Healthcare
• Other End-user

 

North America Durable Medical Equipment Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
o U.S.
o Canada

 

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

 

Key Companies profiled:

 

• Invacare Corp.
• Sunrise Medical
• Arjo
• Medline Industries, Inc.
• GF Healthcare Products, Inc.
• Carex Health Brands, Inc.
• Cardinal Health
• Drive DeVilbiss Healthcare
• NOVA Medical Products
• Kaye Products, Inc.

Diagnostic Enzymes Market To Rise Up At Exponential Growth, Owing To Increasing Prevalence Of Infectious Disorders

 Diagnostic Enzymes Industry Overview

 

The global diagnostic enzymes market size was estimated at USD 4.60 billion in 2023 and is expected to grow at a CAGR of 5.18% from 2024 to 2030. The market is witnessing growth due to the factors such as the increasing prevalence of infectious disorders, high demand for enzymes, innovations in diagnostics technologies, and the rising awareness among patients.

Enzymes used for diagnosis play a crucial role in detecting and measuring various substances, indicating abnormal metabolic activities, infections, diseases, and inflammatory conditions. Swift and accurate identification of serious conditions is vital for optimal clinical outcomes and public health.

 

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

 

Enzymes are widely employed in the diagnosis of many diseases because of their exceptional bio catalytic characteristics. For instance, enzymes such as glucose oxidase (GOx) and glucose dehydrogenase are crucial in diagnosing conditions such as diabetes by detecting glucose levels in the body. They play a vital role in the metabolic activity of living organisms, including plants, microorganisms, animals, and humans. Enzyme abnormality can lead to multiple metabolic disorders. Therefore, components of the enzyme metabolism systems have been incorporated as special markers for disease diagnostics.

Continuous innovations in diagnostics technologies have been driving the growth of diagnostic enzyme market. Advancements in technology have led to the development of more efficient and sensitive diagnostic tests that rely on enzymes for accurate results. For example, nuclease enzymes are increasingly used in DNA sequencing and amplification techniques for various applications, including infectious disease detection.

Rising patient awareness about preventive healthcare measures and early disease detection has increased the demand for enzyme diagnostic tests. Patients are becoming more proactive about monitoring their health status, leading to a higher uptake of enzyme-based diagnostic tests for cardiovascular diseases, diabetes, and cancer. This trend toward proactive healthcare management further fuels the diagnostic enzyme market growth.

 

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

 

• The global immunomodulators market size was valued at USD 217.5 million in 2023 and is projected to grow at a CAGR of 6.2% from 2024 to 2030. The increasing prevalence of autoimmune and inflammatory diseases, advancements in biotechnological and pharmaceutical research, and the growing awareness about these therapies are contributing to the expansion of the market.

 

• The global fabry disease treatment market size was valued at USD 2.54 billion in 2023 and is projected to grow at a CAGR of 9.9% from 2024 to 2030. Fabry Disease are caused due to aberrant accumulation of globotriaosylceramide, a specific type of fatty matter, in a number of bodily tissues, including the kidney, skin, gastrointestinal tract, heart, brain, and central nervous system.

 

Diagnostic Enzymes Market Segmentation

 

Grand View Research has segmented the global diagnostic enzymes market report based on type, application, product, and region:

 

Diagnostic Enzymes Type Outlook (Revenue, USD Million, 2018 - 2030)

 

• Taq Polymerase
• MMLV RT
• HIV RT
• Hot Start Taq Polymerase
• UNG
• RNase Inhibitors
• Bst Polymerase
• PCR Master Mix
• Lyophilized Polymerase
• T7 RNA Polymerase
• Cas9 Enzyme
• Acid Phosphatase
• Alanine Aminotransferase
• Alkaline phosphatase
• Amylase
• Angiotensin Converting Enzyme
• Aspartate Aminotransferase
• Cholinesterase
• Creatinine Kinase
• Gamma Glutamyl Transferase
• Lactate Dehydrogenase
• Renin
• Glucose Oxidase/Glucose Dehydrogenase
• Urease
• Lactate Oxidase
• Horseradish Peroxide
• Glutamate Oxidase
• Others

 

Diagnostic Enzymes Application Outlook (Revenue, USD Million, 2018 - 2030)

 

• Diabetes
• Oncology
• Cardiology
• Infectious Diseases
• Nephrology
• Autoimmune Diseases
• Others

 

Diagnostic Enzymes Product Outlook (Revenue, USD Million, 2018 - 2030)

 

• Molecular Enzymes
• Clinical Enzymes

 

Diagnostic Enzymes End Use Outlook (Revenue, USD Million, 2018 - 2030)

 

• Hospitals
• Clinical Laboratories
• Other End Users

 

Diagnostic Enzymes Regional Outlook (Revenue, USD Million, 2018 - 2030)

 

• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Denmark
o Sweden
o Norway
• Asia Pacific
o Japan
o China
o India
o Australia
o South Korea
o Thailand
• Latin America
o Brazil
o Argentina
• MEA
o South Africa
o Saudi Arabia
o UAE
o Kuwait

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

 

Key Players of Diagnostic Enzymes Market

 

• Takara Bio, Inc.
• Promega Corporation
• Enzo Life Sciences, Inc.
• Merck KGaA
• Thermo Fisher Scientific, Inc.
• Creative Enzyme
• F. Hoffmann-La Roche Ltd.
• Solis BioDyne.
• Ambliqon A/S.
• Yashraj Biotechnology Ltd.

Recent Developments

 

• The FDA approved a record-breaking 55 new medications in 2023 after only 37 new ones were approved in 2022-the fewest since 2016. The list, which came just short of the all-time record of 59 approvals in a single year set in 2018, was the second longest in FDA history. The entire haul amounted to 66 new pharmaceuticals and biologics, since this annual report includes approvals for vaccines and biologics.

• Protalix Bio Therapeutics, Inc. and Chiesi U.S. Rare Diseases received FDA clearance in May 2023 for Elfabrio (pegunigalsidase alfa-iwxj), which is intended to treat adult patients with Fabry disease. Elfabrio comes in single-dose vials containing 20 mg/10 mL of pegunigalsidase alfa-iwxj. It is a preservative-free solution. Every two weeks, intravenous infusions are used to treat patients.

• Additionally, in May 2023, Sangamo Therapeutics, Inc.-a genomic medicine firm-obtained fast track designation for isaralgagene civaparvovec, also referred to as ST-920-a gene therapy product candidate that the company owns entirely and is meant to treat Fabry disease. Twenty patients have received doses of ST-920 so far in the Phase 1/2 STAAR research, which is currently evaluating the drug.

Digital Therapeutics Market: Paving the Way for Personalized Healthcare

Digital Therapeutics Industry Overview

 

The global digital therapeutics market size was valued at USD 6.2 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 27.2% from 2024 to 2030. This growth is being driven mainly by the cost-effectiveness of digital health technology for providers as well as patients and a rapid pace of smartphone penetration in developed & developing economies. According to Kepios, there were 5 billion internet users in April 2022 around the world, which accounted for 63.0% of the global population. As this figure increases, awareness of smart health tracking is expected to enhance.

 

Further, increasing demand for patient-centric care & integrated healthcare systems are expected to drive the market. Supportive reimbursement, the COVID-19 pandemic, early signs of reimbursement, and the rising incidence of chronic diseases are also expected to fuel the market growth.

 

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

 

A rapid rise in internet penetration across the globe had a positive impact on the market. As per The Mobile Economy 2022 statistics published by the GSM Association, the number of people using mobile services was 5.3 billion in 2021, and the number of distinctive mobile subscribers is expected to rise to 5.7 billion by 2025 (70% of the global population). Penetration of smartphones is also rising significantly. The same report states that smartphone penetration was 75% in 2021 and is expected to reach 84% by 2025. Consumers' growing use of smartphones is driving the growth of various mHealth applications in this market.

 

COVID-19 notably propelled the rate of change in digital therapeutics by accelerating regulatory flexibility, thus expanding access to digital health products and fueling patient demand. The pandemic boosted the demand for accessible and convenient digital health solutions. For instance, as per guidelines released by the FDA in April 2020, for the duration of this pandemic, it would allow the use and distribution of digital health therapeutic devices for psychiatric disorders. Thus, vendors could commercialize their solutions without complying with usual regulatory requirements, provided the devices do not create any undue public health emergency.

 

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

 

• The global 5G in healthcare market size was estimated at USD 50.8 billion in 2023 and is expected to grow at a CAGR of 40.5% from 2024 to 2030. The global market is driven by the increasing adoption of robotic surgery and telehealth, alongside advancements in telecommunication and 5G technology.

 

• The global radiology information systems (RIS) market size was estimated at USD 1.21 billion in 2023 and is expected to grow at a CAGR of 9.78% from 2024 to 2030. Growing government initiatives promoting RIS usage have led to increased investments in healthcare infrastructure by both private providers and governments.

 

Digital Therapeutics Market Segmentation

 

Grand View Research has segmented the global digital therapeutics market based on application, end-use, and region:

 

Digital Therapeutics Application Outlook (Revenue, USD Million, 2018 - 2030)

• Diabetes
• Obesity
• CVD
• Respiratory Diseases
• Smoking Cessation
• CNS Diseases
• Others

 

Digital Therapeutics End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Patients
• Providers
• Payers
• Employers
• Others

 

Digital Therapeutics Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Denmark
o Sweden
o Norway
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Thailand
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
o Israel
o Kuwait

 

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

 

Key Companies profiled:

• OMADA HEALTH, INC.
• Welldoc, Inc.
• 2Morrow, Inc
• Livongo Health, Inc. (Teladoc Health, Inc.)
• Propeller Health (ResMed)
• Fitbit LLC
• Mango Health
• CANARY HEALTH
• Noom, Inc.
• Pear Therapeutics, Inc.
• Akili Interactive Labs, Inc.
• HYGIEIA
• DarioHealth Corp.
• BigHealth
• GAIA AG
• Limbix Health, Inc.

 

Recent Developments

 

• In October 2023, Better Therapeutics, Inc. launched AspyreRx, a diabetes digital therapeutic platform. The platform offers a customized experience to assist patients in improving the way they manage their diabetes.

• In August 2023, Welldoc, Inc. announced that it received the 10th FDA approval for its BlueStar diabetes digital health solution.

Complementary And Alternative Medicine Market: A Holistic Approach to Wellness

 Complementary And Alternative Medicine Industry Overview

 

The global complementary and alternative medicine market size was valued at USD 144.68 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 25.3% from 2024 to 2030. The growing awareness regarding Complementary and Alternative Medicine (CAM), increasing disposable income, and government initiatives to boost CAM are some of the major factors driving the market growth.

 

Gather more insights about the market drivers, restrains and growth of the Complementary And Alternative Medicine Market

 

Rising adoption of electronic methods is also expected to boost the market growth as this increases reach of many alternative treatments and supplements. In order to increase penetration rate of CAM, several governments and regulatory bodies are undertaking efforts for finding clinical support for considering these techniques as alternative medicines.

 

In addition, increased penetration of the internet and social media to promote & offer CAM services or therapies has strengthened the market. For instance, The Healing Company Ltd. treats individuals through energy healing techniques and offers distance healing therapies using a teleconference or video conference. Many natural supplements and botanicals are made available online to improve product reach. Virtual reality and holographic presence have proven their potential to enhance treatment methods and their accessibility.

 

Meanwhile, Coworth Park introduced a new Hebridean sound treatment in October 2023. This exceptional offering provides individuals with a calming sound therapy experience, offering a moment of relaxation and revitalization. Sound therapy, known for its calming effects, adds another dimension to the growing array of wellness offerings, highlighting the industry's commitment to holistic well-being.

 

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

 

• The global osteoporosis drugs market size was valued at USD 14.74 billion in 2023 and is projected to grow at a CAGR of 3.5% from 2024 to 2030. The growing prevalence of osteoporosis in the population is a significant factor fueling the growth of the osteoporosis drugs market. These drugs are used in treating patients dealing with disease and fractures, the geriatric population suffering from osteoarthritis, and women with postmenopausal disorders.

• The global immune health supplements market size was estimated at USD 26.60 billion in 2023 and is projected to grow at a CAGR of 10.72% from 2024 to 2030. The key factors driving market growth include the increasing prevalence of infectious diseases, diabetes, and several other disorders due to lack of immunity. In recent years, there is a constant trend observed about the increase in supplement usage to improve the body's immunity all over the globe.

Complementary And Alternative Medicine Market Segmentation

 

Grand View Research has segmented the global complementary and alternative medicine market based on intervention, distribution method, and region:

 

Complementary And Alternative Medicine Intervention Outlook (Revenue, USD Million, 2018 - 2030)

• Traditional Alternative Medicine/Botanicals
o Ayurveda
o Apitherapy
o Bach Flower Therapy
o Naturopathic Medicine
o Traditional Chinese Medicine
o Traditional Korean Medicine
o Traditional Japanese Medicine
o Traditional Mongolian Medicine
o Traditional Tibetan Medicine
o Zang Fu Theory
• Mind Healing
o Autosuggestion
o Hypnotherapy
o Neuro-linguistic Programming
o Self-hypnosis
o Spiritual Mind Treatment
o Transcendental Meditation
• Body Healing
o Acupressure
o Acupuncture
o Alexander Technique
o Auriculotherapy
o Autogenic Training
o Chiropractic
o Cupping Therapy
o Kinesiology
o Osteomyology
o Osteopathy
o Pilates
o Qigong
o Reflexology
o Yoga
• External Energy
o Magnetic Therapy
o Bio-magnetic Therapy
o Magnetic Resonance Therapy
o Radionics
o Reiki
o Therapeutic Touch
o Chakra Healing
• Sensory Healing
o Aromatherapy
o Music therapy
o Sonopuncture
o Sound Therapy

Complementary And Alternative Medicine Distribution Method Outlook (Revenue, USD Million, 2018 - 2030)

• Direct Sales
• E-sales
• Distance Correspondence

Complementary And Alternative Medicine Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Denmark
o Sweden
o Norway
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Thailand
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
o Kuwait

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

Key Companies profiled:

• Columbia Nutritional
• Nordic Nutraceuticals
• Ramamani Iyengar Memorial Yoga Institute
• The Healing Company Ltd.
• John Schumacher Unity Woods Yoga Centre
• Sheng Chang Pharmaceutical Company
• Pure encapsulations, LLC.
• Herb Pharm
• AYUSH Ayurvedic Pte Ltd.

 

Personal Mobility Devices Market: A New Era of Mobility

Personal Mobility Devices Industry Overview

The global personal mobility devices market size was valued at USD 10.58 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. The market has witnessed a decline in 2020 during the COVID-19 pandemic due to the disrupted transportation of the devices.

 

An increasing population, growing product development, and a rising number of accidents causing disabilities are some of the key factors driving the market for personal mobility devices. The rising geriatric population and cases of chronic diseases across the globe are the major factors contributing to market growth.

 

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

 

The COVID-19 pandemic negatively affected the global market as the demand and production of personal mobility devices were decreased and revenues of key players took a hit owing to the pandemic. For instance, the annual revenue of Invacare fell by 8.3% in 2020. However, the implementation of proactive steps and policies has created better opportunities for the market players owing to the ease in distribution systems due to revised COVID-19 restrictions in different regions. Government initiatives such as favorable reimbursement policies, for instance, the Medicare reimbursement program for purchased and rented devices are expected to drive the market for personal mobility devices.

 

Few mobility devices, such as walkers, wheelchairs, canes, and crutches, are also covered under Medicare insurance Part B. The market players are also adopting various strategic initiatives such as a change in distribution footprints to reduce the transit time and freight charges. For instance, the net sales of Invacare Corporation increased by 2.6% from 2020 to 2021 owing to the cost improvement strategy in supply-chain and administrative functions and global IT modernization initiatives for optimizing the operations structure of the company.

 

In U.S., the personal mobility devices market, the walking aids product segment is expected to witness a CAGR of 6.1% over the forecast period. The Indian government has initiated the Scheme of Assistance to Disabled Persons to help in procuring sophisticated, durable and modern, scientifically manufactured, standard aids and medical devices to promote social, psychological, and physical rehabilitation of people with disabilities. Moreover, this provision is expected to assist in enhancing the economic potential for purchasing mobility devices. Assistive devices are given to public work departments to promote independent living and to reduce the extent of disability. Technological advancements in products are among the most important drivers for the market.

 

The introduction of advanced mobility scooters, transfer lifts, and automated rollators are expected to significantly improve the usage rates of mobility devices. For instance, Phoenix Instinct is the first lightweight wheelchair with smart technology which comes with a carbon fiber body and other life-enhancing features.

 

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

 

• The global pharmaceutical regulatory affairs market size was estimated at USD 8.84 billion in 2023 and is projected to grow at a CAGR of 7.16% from 2024 to 2030. The changing regulatory landscape, the increasing need for companies to focus on core business activities, and economic & competitive pressures are the key drivers responsible for market growth.

• The global retinal imaging devices market size was estimated at USD 3.74 billion in 2023 and is expected to grow at a CAGR 7.9% from 2024 to 2030. The increasing prevalence of retinal disorders, such as diabetic retinopathy and age-related macular degeneration, fuels the demand for advanced diagnostic tools.

Personal Mobility Devices Market Segmentation

Grand View Research has segmented the global personal mobility devices market based on product and region:

Personal Mobility Devices Product Outlook (Volume, K Units; Revenue, USD Million, 2018 - 2030)

• Walking Aids
o Rollators
o Premium Rollators
o Low-Cost Rollators
o Others (Canes, Crutches, and Walkers)
• Wheelchairs
o Manual wheelchairs
o Powered Wheelchairs
• Scooters

Personal Mobility Devices Regional Outlook (Volume, K Units; Revenue, USD Million, 2018 - 2030)

• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Denmark
o Norway
o Sweden
• Asia Pacific
o Japan
o China
o India
o Australia
o South Korea
o Thailand
• Latin America
o Brazil
o Mexico
o Argentina
• MEA
o South Africa
o Saudi Arabia
o UAE
o Kuwait

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

Key Companies profiled:

• Drive DeVilbiss Healthcare
• GF Health Products, Inc.
• Invacare Corporation
• Carex Health Brands, Inc.
• Kaye Products, Inc.
• Briggs Healthcare
• Medline Industries, Inc.
• NOVA Medical Products
• Performance Health
• Rollz International