Digital Pathology Market Report by Applications In Research And Clinical Settings

 

The global digital pathology market is experiencing significant growth, projected to reach a value of USD 1.03 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2030.

 

This substantial expansion is primarily driven by several key factors:

• Rising Prevalence of Cancer: The increasing incidence of cancer worldwide necessitates advanced diagnostic tools and techniques, which digital pathology effectively provides.

• Enhanced Workflow Efficiency: Digital pathology solutions streamline laboratory processes, reducing turnaround times and improving overall efficiency.

• Accelerated Diagnostics: Digital pathology enables faster and more accurate diagnoses, leading to timely treatment initiation.

• Increased Healthcare Investments: Significant investments in healthcare infrastructure and technology are fueling the adoption of digital pathology solutions.

• Telepathology Adoption: Remote consultation and diagnosis through telepathology expand access to expert pathologists, especially in underserved areas.

• Drug Discovery and Precision Medicine: Digital pathology plays a crucial role in drug development and personalized medicine by analyzing tissue samples at a cellular level.

 

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Type Segmentation Insights 

 

In 2023, the human pathology segment dominated the market, accounting for approximately 60% of the total share. This segment's growth is driven by the increasing adoption of digital pathology to expedite disease diagnosis turnaround times and enhance laboratory productivity. Additionally, the rising prevalence of chronic diseases in the human population has fueled the demand for digital pathology solutions.

 

The veterinary digital pathology segment is poised for significant growth over the forecast period. The implementation of digital pathology in veterinary medicine is facilitated by fewer regulatory restrictions on virtual scanned slide-based diagnoses. Moreover, the proactive push towards automation is driving the adoption of digital pathology in the veterinary field.

 

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Electrophysiology Devices Market: The Impact of Technology on Patient Outcomes

 The global market for electrophysiology devices was valued at USD 10.07 billion in 2023 and is projected to expand at a Compound Annual Growth Rate (CAGR) of 15.1% from 2024 to 2030.

 

The increasing utilization of electrophysiology (EP) tests for the diagnosis and treatment of heart conditions like atrial fibrillation is a key driver of market growth. Additionally, the rising demand for devices designed for cardiac rhythm management and constant monitoring, coupled with the expanding application of these devices in out-of-hospital settings, are further propelling industry growth. 

 

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The prevalence of heart failure, cardiac arrest, and atrial fibrillation among millennials is on the rise due to factors such as sedentary lifestyles, smoking, excessive alcohol consumption, and others. According to the CDC, approximately 12.1 million Americans are expected to be affected by atrial fibrillation by 2030.  

 

The increasing number of catheter ablation procedures is poised to have a positive impact on the electrophysiology devices market. As the number of ablation procedures increases, there is a corresponding rise in demand for ancillary products. Moreover, electrophysiology devices, including EP devices, offer enhanced maneuverability for navigating complex anatomies, greater flexibility for reaching targeted areas, improved compatibility, and enhanced visualization capabilities through integrated imaging features.

 

An article published by Elsevier Inc. in March 2023 revealed that the annual rate of cardiac electrophysiology procedures in the U.S. increased from 817.9 per 100,000 beneficiaries in 2013 to 1,089.68 per 100,000 beneficiaries in 2019.

 

Device Type Segmentation Insights

 

Ablation catheters were the leading segment in the market in 2023, accounting for 45.6% of the total revenue. This segment is projected to exhibit the fastest growth rate during the forecast period. Ablation catheters are employed to regulate irregular heart rhythms that cannot be managed through medication. These catheters encompass radiofrequency (RF) ablation, cryoablation, and pulse field ablation. The dominance of this segment can be attributed to several factors, including a surge in heart failure and arrhythmia occurrences, heightened awareness of the reliability of electrophysiology procedures, advancements in EP technologies, and a rise in minimally invasive procedures. For example, in January 2024, Boston Scientific Corporation obtained approval for the FARAPULSE Pulsed Field Ablation System, which offers a novel approach to cardiac ablation.

 

The diagnostic catheters segment is poised to experience substantial growth during the forecast period. Diagnostic catheters are utilized to investigate and assess patients suspected of having cardiovascular diseases. These catheters include EP mapping devices, cardiac output catheters, and angiography catheters. In July 2023, Biosense Webster, Inc. introduced a mapping catheter, OPTRELL. OPTRELL is a high-density diagnostic catheter that provides high-definition EP mapping of complex cardiac arrhythmias.

 

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Vital Signs Monitoring Devices Market: Impact of Telehealth on Adoption Rates

 The global market for vital signs monitoring devices was valued at USD 9.2 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2030.

 

This growth is attributed to several key factors:

• Product Innovation: Constant advancements in technology are leading to the development of more sophisticated and user-friendly vital signs monitoring devices.
• Home Healthcare Demand: The increasing popularity of home healthcare services is driving the need for portable and affordable monitoring devices.
• Healthcare Infrastructure Expansion: The rising number of healthcare facilities, particularly hospitals, is contributing to the market's growth.
• Prevalence of Chronic Diseases: The growing burden of chronic conditions, such as hypertension and diabetes, necessitates regular monitoring of vital signs.

 

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Vital signs monitoring devices have evolved significantly, transitioning from individual devices measuring specific parameters like blood pressure, pulse, and temperature to integrated all-in-one solutions. This trend, coupled with ongoing innovations, is further fueling market growth.

The COVID-19 pandemic had a substantial impact on the demand for vital signs monitoring devices. As the virus was identified as a serious health threat, particularly for individuals with underlying health conditions like hypertension, the demand for blood pressure monitors, pulse oximeters, and temperature monitoring devices surged. For instance, in the U.S., where approximately 103 million people suffer from hypertension, the need for BP monitoring devices increased significantly.

Looking ahead, the others product segment, which encompasses a variety of devices beyond the traditional categories, is expected to witness significant growth in the U.S. market over the forecast period.

 

Product Segmentation Insights

 

Blood pressure monitors, also known as sphygmomanometers, were the most popular type of medical device in 2022, accounting for over 48.5% of the market. This segment is projected to grow at a steady rate of 9.3% per year from 2023 to 2030. This growth is primarily driven by the increasing prevalence of hypertension, which is leading to a greater need for blood pressure monitoring. Additionally, growing awareness about the importance of blood pressure management is encouraging people to monitor their blood pressure regularly, even as a preventive measure. This trend has led to an increased demand for self-operated digital blood pressure monitors. Pulse oximeters also represent a significant portion of the market.

 

Pulse oximeters are further classified into various types, including table-top/bedside, fingertip, hand-held, wrist-worn, pediatric pulse oximeters, and their accessories. Among these, fingertip pulse oximeters are expected to experience substantial growth due to their portability and wireless capabilities, which enhance patient compliance. Temperature monitoring devices are categorized into digital thermometers, mercury-filled thermometers, infrared thermometers, liquid crystal thermometers, and temperature monitoring device accessories. Due to the environmental hazards and potential risks associated with mercury-filled thermometers, there has been a shift towards digital thermometers, which offer more accurate and safer temperature measurements.  

 

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Medical Billing Outsourcing Market: Challenges and Opportunities in a Changing Healthcare Environment

 The global medical billing outsourcing market is experiencing significant growth, projected to reach a value of USD 12.2 billion in 2022 and expand at a Compound Annual Growth Rate (CAGR) of 12.26% from 2023 to 2030. This expansion is primarily driven by emerging trends such as increasing bad debts, the integration of new technological solutions, evolving billing practices, and changing regulatory guidelines.

 

Medical billing outsourcing offers several advantages to healthcare providers. It can contribute to reducing expenses associated with equipment and software, improving cash flow, and optimizing staffing costs. The increasing adoption of IT resources within the healthcare industry, coupled with supportive government initiatives, is further accelerating market growth.

 

The rising cost of healthcare, particularly in developed nations, has spurred advancements in technology, leading to the widespread adoption of modern devices and software like Revenue Cycle Management (RCM) solutions. The growing patient load and the need to efficiently manage records and bills are placing a significant burden on healthcare practitioners. To alleviate this pressure, hospitals are increasingly turning to outsourcing their clinical billing processes, which is expected to fuel market growth.

 

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Component Segmentation Insights

 

The medical billing market is primarily divided into two segments: in-house and outsourced. In 2022, the outsourced segment was the larger of the two, accounting for 53.2% of the market revenue. This segment is projected to experience the highest CAGR from 2023 to 2030. Outsourcing medical billing services offers several advantages, particularly for small and medium-sized healthcare providers. It helps reduce costs and simplifies operations, which is crucial in an environment where reimbursements are decreasing, costs are rising, and new regulations are increasing complexity.

 

A survey conducted by the Medical Group Management Association (MGMA) revealed that medical practices lose 5-10% of their revenue due to billing errors. This factor further drives the growth of the outsourced segment. Many companies are now embracing cloud-based medical billing solutions, such as the cloud-based revenue cycle management platform launched by eClinicalWorks in 2018. These solutions enhance patient data security and streamline operations.

 

Outsourcing also offers significant labor cost savings by eliminating the need for an in-house accounting team. Companies can avoid the expenses associated with hiring, training, and ongoing professional development. 

 

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Surgical Microscopes Market: Future Trends in Minimally Invasive Surgery

  

 

The global market for surgical microscopes was valued at $1.4 billion in 2023 and is projected to expand at a compound annual growth rate of 11.56% from 2024 to 2030. Several factors are driving this growth, including the rising number of surgical procedures, the need for greater precision in these procedures, and the emergence of new technologies like wide-angle illumination, red reflex illumination, and augmented reality microscopy. Surgical microscopes have become indispensable tools in minimally invasive surgeries across various fields, such as neurosurgery, ophthalmic surgery, dental surgery, otorhinolaryngology, and cosmetic surgery.

 

Technological advancements have allowed companies to develop integrated surgical systems that streamline the workflow of surgical practices in hospitals and outpatient surgical centers. The digitalization of surgical microscopes has significantly improved their quality and effectiveness. Additionally, companies offer customized microscopes tailored to specific medical specialties like ophthalmology, ENT, dental, and neurosurgery. 

 

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Type Segmentation Insights

 

The on-casters segment dominated the surgical microscopy market in 2023, accounting for 79.80% of the total revenue. This segment is expected to continue its growth at the fastest pace during the forecast period. On-casters microscopes are floor-mounted devices with retractable casters that can have single, double, or compound wheels. These microscopes are widely used in various surgical fields, including dentistry, ophthalmology, neurosurgery, cosmetic procedures, and ENT. Their ability to be easily moved in any direction due to their caster-mounted design makes them highly convenient for surgeons. This factor is driving the demand for on-casters microscopes, contributing to the significant growth of this segment.

 

While the wall-mounted surgical microscopes segment holds the second-largest market share, it is less frequently used compared to on-casters microscopes due to limitations such as restricted flexibility and potential issues with illumination and maintenance. However, wall-mounted microscopes are often preferred in examination or operating rooms with limited space. Additionally, these microscopes come with an in-built spring system that can be adjusted to accommodate different weights. These factors are contributing to increasing demand for wall-mounted microscopes.

 

The tabletop and ceiling-mounted microscopes segments hold smaller market shares compared to on-casters and wall-mounted microscopes. Ceiling-mounted microscopes, in particular, have the least market share.

 

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Europe, CIS & Africa Spatial Transcriptomics Market: Investment Opportunities and Strategic Developments

 

 

The global market for computer numerical control (CNC) machines is expanding rapidly, driven by their ability to automate manufacturing processes and improve efficiency. The market size was valued at USD 66.74 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 10.3% from 2023 to 2030.

 

The widespread adoption of CNC machines can be attributed to their ability to automate manufacturing processes, reducing human error and labor costs. These machines can execute complex tasks with high precision and consistency, working continuously 24/7 to significantly improve productivity and efficiency in various industries, such as automotive, aerospace, and electronics.

 

The CNC machines market recovered well in 2022 due to increased machine orders across industries, especially from North America, Asia Pacific, and Europe. The pent-up demand and backlog orders resulting from the pandemic contributed to the positive growth in 2022.  

 

Technological advancements are also driving the growth of CNC machines. These machines are becoming more sophisticated, incorporating features such as multi-axis capabilities, improved spindle speeds, advanced tooling options, and real-time monitoring systems. The integration of Internet of Things (IoT) technology and Artificial Intelligence (AI) further enhances their capabilities, enabling predictive maintenance, adaptive machining, and data-driven optimizations.

 

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Product Segmentation Insights

 

The consumables segment, which includes reagents, kits, and other supplies used in genomic research, was the dominant market force in 2023, accounting for 52.16% of the total market share. This dominance can be attributed to several factors:

• High product penetration: Consumables are essential for genomic research and are widely used in various applications.
• Increasing use of reagents & kits: Advancements in genomic research have led to a growing demand for specialized reagents and kits.
• Wide product availability: Consumables are readily available from a variety of suppliers, ensuring easy access for researchers.
• Frequent purchase of consumables: Due to their consumable nature, these products need to be purchased frequently to keep research projects running smoothly.
• Instrument development: The development of new instruments or upgrades to existing instruments directly impacts the growth of the consumables segment. This is because new instruments often require specific consumables to operate effectively.

The software segment, which includes products for data visualization, interpretation, and management, is projected to experience the fastest growth during the forecast period. This growth is driven by the increasing volume of genomic research studies and the need for robust software solutions to handle and interpret the vast amounts of data generated. As genomic research continues to advance, the demand for sophisticated software tools will only increase, propelling the growth of this segment in the coming years.

 

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Cell Culture Media Market Development: Advances in Formulations and Applications

 

 

The global market for cell culture media, which are used to support the growth of cells or microorganisms in the production of biopharmaceuticals, was valued at $4.73 billion in 2023. This market is expected to grow at a rapid pace, with a compound annual growth rate (CAGR) of 12.54% from 2024 to 2030. Cell culture media is a crucial component in the manufacturing of biopharmaceuticals, as it helps cells to grow and thrive. This market segment is the fastest-growing within the overall biopharmaceutical industry, driven by increasing demand for biopharmaceuticals, supportive government policies, and rising investments in research and development.

 

The COVID-19 pandemic has significantly boosted demand for well-established cell-based vaccine production technologies. Additionally, it has spurred scientific advancements, particularly in the development and testing of vaccine technology. The Vero cell line, derived from the African green monkey kidney, has been widely used for the production of viral vaccines, including those for SARS-CoV variants. Lonza Bioscience offers ProVeroTM1 Serum-free Medium, a protein-free and animal-free medium specifically designed to support the growth of Vero cells and MDCK cells.

 

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Product Segmentation Insights

 

Serum-Free Media (SFM): A Growing Market

 

The market for serum-free media (SFM) is expanding, with SFM constituting the largest segment, holding a 36% market share in 2023. SFM is a valuable tool for researchers as it enables the cultivation of specific cell types without the use of serum. This offers several advantages, including:

 

• Enhanced growth and productivity: SFM can often promote faster and more efficient cell growth compared to serum-containing media.
• Consistent performance: The absence of serum reduces variability between batches, leading to more reliable experimental outcomes.
• Better control of physiological sensitivity: SFM allows for precise control of the culture environment, making it easier to study specific cellular responses.
• Reduced risk of contamination: Serum can introduce adventitious agents into cultures. By eliminating serum, the risk of contamination is significantly decreased.

 

Ethical and Regulatory Considerations

 

Beyond the scientific benefits, the adoption of SFM is also driven by ethical and regulatory factors. The use of serum-free alternatives aligns with growing concerns about animal welfare, as the production of serum often involves the sacrifice of animals. Additionally, the increasing demand for gene and cell therapies has led to stricter regulatory guidelines from organizations like the FDA. SFM offers a solution by providing more control over raw materials and reducing batch-to-batch variability, ensuring the safe and reliable manufacturing of drug products.

 

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Liquid Biopsy Market Sustainability, Ethical Considerations And Regulations

 The global liquid biopsy market, valued at $10.42 billion in 2023, is expected to expand at a compound annual growth rate of 11.60% from 2024 to 2030. This growth is fueled by several factors, including the increasing prevalence of cancer, advancements in cancer diagnostic technologies, and a growing preference for minimally invasive cancer diagnostics. Additionally, ongoing research into liquid biopsy assays and tests, coupled with the rising adoption and development of multi-cancer early detection tests, offers significant growth potential for the overall market.

 

The COVID-19 pandemic disrupted cancer diagnoses due to reduced diagnostic services and screening programs. Cancer patients faced numerous challenges during this time, such as increased susceptibility to severe infections and interruptions in cancer or usual medical care. The negative impact of the pandemic was particularly severe in low- and middle-income countries with limited infrastructure, resources, medical supplies, personal protective equipment, healthcare providers, and organized care teams. These factors resulted in a lack of ability to provide and deliver critical care, exacerbating the challenges faced by cancer patients in these regions.

 

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Technology Segmentation Insights

 

The multi-gene-parallel analysis (NGS) segment dominated the market in 2023, accounting for 75.68% of the total revenue. This segment is projected to experience the fastest growth rate during the forecast period. NGS technology is crucial for detecting various tumor-causing mutations and identifying potential resistance mechanisms that may emerge after treatment. The rapid advancements in NGS have significantly reduced sequencing costs while maintaining high accuracy. Additionally, key market players are actively developing innovative products to meet the increasing demand for diagnosis and strengthen their market positions through expanded product portfolios. A notable example is the collaboration between Agilent Technologies and Quest Diagnostics in January 2023, which aimed to provide access to Agilent Resolution ctDx FIRST, an NGS liquid biopsy test in the United States.

 

The single gene analysis (PCR microarrays) segment is also expected to demonstrate significant growth during the forecast period. Technological advancements in PCR, particularly the recently introduced droplet digital PCR (ddPCR), are driving this growth. ddPCR offers absolute quantification of nucleic acids with exceptional sensitivity and precision. This technology has proven to be a valuable tool for detecting and monitoring various types of cancers. Bio-Rad's ddPCR technology, for instance, enables the detection of cancer subtypes, monitoring of residual disease, optimization of drug treatment plans, and studies of tumor evolution. ddPCR assays are particularly advantageous when used in liquid biopsies, allowing for the measurement of circulating tumor cells (CTCs) and circulating nucleic acids (cfDNA) in blood samples.

 

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Preclinical CRO Market: Innovations In Toxicology And Pharmacology Testing

 The preclinical contract research organization (CRO) market is experiencing substantial growth due to various factors. The increasing investment in drug development research and the growing complexity of preclinical trials are driving demand for CRO services. Additionally, the need to optimize R&D costs and the rapid advancement of preclinical studies, as exemplified by the COVID-19 vaccine development, are further contributing to the market expansion.

 

Key Market Drivers:

• Increased R&D Spending: Rising investments in drug development are fueling the demand for CRO services, as organizations seek external expertise to accelerate their research efforts.
• Complex Preclinical Trials: The growing complexity of preclinical studies, particularly those involving large molecules, necessitates specialized CRO services to ensure efficient and accurate outcomes.
• Cost Optimization: The need to optimize R&D costs is driving organizations to outsource preclinical activities to CROs, which can offer cost-effective solutions.
• Rapid Advancement: The rapid advancement of preclinical studies, as demonstrated by the COVID-19 vaccine development, highlights the critical role of CROs in accelerating research timelines.

 

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Impact of COVID-19:

The COVID-19 pandemic has significantly accelerated the growth of the preclinical CRO market. The urgent need for new treatments and vaccines has led to unprecedented levels of investment in drug development and a surge in demand for CRO services. The rapid advancements achieved in preclinical studies during this time have showcased the capabilities of CROs and solidified their position as essential partners in the pharmaceutical industry.

 

Future Outlook:

The preclinical CRO market is expected to continue its growth trajectory in the coming years, driven by ongoing investments in drug development, the increasing complexity of preclinical trials, and the ongoing need for cost optimization. The lessons learned from the COVID-19 pandemic are likely to further accelerate the adoption of CRO services as organizations seek to streamline their research processes and accelerate drug development timelines.

Service Segmentation Insights

 

Toxicology Testing Segment

 

The toxicology testing segment, which contributed to a substantial 25.4% of the global preclinical CRO market revenue in 2023, is experiencing significant growth. This growth can be attributed to two primary factors:

1. Increased Outsourcing: There's a rising trend of pharmaceutical companies outsourcing non-core preclinical activities, including toxicology testing, to CROs. This shift is driven by the desire to focus on core competencies and reduce operational costs.
2. Advancements in Toxicology Testing: CROs have made significant strides in their capabilities to conduct toxicology tests effectively and efficiently. These advancements, combined with the increasing complexity of drug development, have made CROs a preferred choice for toxicology studies.

The ongoing trend of outsourcing non-core preclinical studies and the growing expertise of CROs in toxicology testing are expected to fuel further growth in this segment during the forecast period.

 

Bioanalysis and DMPK Studies Segment

 

The bioanalysis and DMPK (Drug Metabolism and Pharmacokinetics) studies segment is poised for the fastest growth, with a projected CAGR of 9.3% during the forecast period. Several factors are driving this expansion:

1. Supporting Toxicology Tests: There's a growing demand for pharmacokinetic services to complement toxicology tests, particularly for IND-enabling studies. These studies help assess a drug's absorption, distribution, metabolism, and excretion (ADME) properties, which are crucial for understanding potential toxicity risks.
2. Essential Role in Drug Development: Bioanalysis and DMPK studies are indispensable throughout the drug development process, not just in the preclinical phase. They are integral to understanding drug efficacy, safety, and dosing regimens.

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Animal Wound Care Market: The Role Of Preventative Care In Veterinary Medicine

 The global animal wound care market size was estimated at USD 1.08 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.92% over the forecast period. The market is primarily driven by factors, such as the rising adoption of companion animals, increasing demand for veterinary surgeries, and growing animal injury cases. For instance, according to the U.S. Department of Transportation, over 1 million animals die each year due to road accidents, with several million animals getting injured. Moreover, the increasing number of veterinary visits and rising adoption of pet insurance are boosting industry growth.

 

Trupanion, a pet insurance company, observed 1.3 million pet insurance enrollments as of June 2022. It observed 32% growth in the second quarter of 2021. The COVID-19 pandemic affected millions of people and businesses around the world. It financially impacted as well as put other implications on most of the veterinary fields, including the animal wound care market. The postponement and cancellation of elective surgeries in animals due to nationwide lockdowns resulted in a decline in postoperative wound cases, thus impacting the industry's growth. Furthermore, on March 2020, the Federation of Veterinarians of Europe (FVE) stated that many small- and medium-sized veterinary businesses were facing a period of financial difficulty in the initial stage of the pandemic.

  

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Detailed Segmentation:

 

Product Insights

In 2022, the surgical wound care products segment dominated the industry and accounted for the maximum share of more than 40.40% of the overall revenue. Sutures, staplers, tissue adhesives, sealants, and glues are examples of products used in surgical wound care. Skin staplers have become increasingly common due to their benefits including ease of use, shorter surgical times, and simplicity of removal. In various veterinary procedures, including cardiovascular, orthopedic, & neurological procedures, suture cassettes & surgical sutures are used to temporarily assist wound healing. Some of the major companies that provide these devices are Surgical Holdings, DRE Veterinary, and Medtronic.

Animal Type Insights

In 2022, the companion animal segment dominated the global industry and accounted for the maximum share of more than63.85% of the overall revenue. Rising pet healthcare costs, especially in developed regions, are among the key factors driving the growth of this segment. According to a report by American Pet Products Association (APPA), pet owners spent around USD 34.3 billion on veterinary care in 2021 in the U.S. Another key factor propelling the segment growth is the rising demand for minimally invasive surgeries. Modern procedures provide various benefits including smaller incisions and fewer stitches, which encourage pet owners to choose cutting-edge, minimally invasive technologies.

End-use Insights

The veterinary hospitals and clinics segment dominated the industry in 2022 and accounted for the maximum share of more than 40.00% of the overall revenue owing to faster diagnosis and easy availability of & access to treatments in vet hospitals & clinics. Moreover, these settings offer a wide range of treatments as well as improved wound care procedures, which is a high-impact rendering driver for the segment. Another key factor driving the segment growth is various government animal welfare groups issuing guidelines for safety practices and regulations to be adopted in veterinary hospitals & clinics.

Distribution Channel Insights

Due to high accessibility and affordability, the veterinary hospitals and clinics segment dominated the global industry in 2022 and accounted for the highest share of more than 45.00% of the overall revenue. Veterinary hospitals are the primary healthcare facility, with their main objective to provide urgent medical treatment to patients. Veterinarians are committed to providing patients with better primary care services for a speedy recovery. The staff at clinics advises pet owners regarding pet food and the benefits of medicine in addition to providing veterinarian treatment. This enables more efficient animal wound care management and control. The e-commerce segment is expected to register the fastest growth rate during the forecast period.

Regional Insights

The North America region dominated the global industry in 2022 and accounted for the maximum share of more than 32.30% of the overall revenue. An increase in efforts undertaken by major players to advance their product portfolios by guaranteeing high-quality standards is expected to fuel regional market growth. However, during the COVID-19 pandemic, many government authorities recommended avoiding elective surgeries in animals, which resulted in a decline in postoperative wound cases. For instance, the CDC recommended veterinarians and veterinary staff attend only to emergency visits and procedures during the initial stages of the COVID-19 pandemic. 

 

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• The global animal wound care market size was estimated at USD 1.08 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.92% over the forecast period.

• The global pet herbal supplements market size was estimated at USD 895.0 million in 2023 and is estimated to grow at a CAGR of 10.6% from 2024 to 2030.

 

Some of the prominent players in the global animal wound care market include:

• B. Braun Melsungen AG
• Medtronic
• 3M
• Johnson & Johnson (Ethicon)
• Virbac
• Advancis Veterinary Ltd.
• INNOVACYN, Inc.
• Vernacare (Robinson Healthcare)
• NEOGEN Corp.
• KeriCure, Inc. 

 

Animal Wound Care Market Segmentation

 

Grand View Research has segmented the global animal wound care market on the basis of product, animal type, end-use, distribution channel, and region:

 

Animal Wound Care Product Outlook (Revenue, USD Million, 2018 - 2030)
• Surgical Wound Care Products
o Sutures & Staplers
o Tissue Adhesive
• Advanced Wound Care Products
o Foam Dressings
o Hydrocolloid Dressing
o Film Dressing
o Hydrogel Dressing
o Others
• Traditional Wound Care Products
o Tapes
o Bandages
o Dressing
o Absorbents
o Others
• Therapy Devices

Animal Wound Care Animal Type Outlook (Revenue, USD Million, 2018 - 2030)
• Companion Animals
o Dogs
o Cats
o Horses
o Others
• Livestock Animals

Animal Wound Care End-use Outlook (Revenue, USD Million, 2018 - 2030)
• Veterinary Hospitals/Clinics
• Homecare
• Research Institutes

Animal Wound Care Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
• Retail
• E-commerce
• Veterinary Hospitals/Clinics

Animal Wound Care Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
• Asia Pacific
o China
o Japan
o India
• Latin America
o Brazil
o Mexico
o Argentina
• MEA
o South Africa
o Saudi Arabia

 

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Hydraulic Cylinder Market Insights, Innovations And Technological Advancements To 2030

 The global hydraulic cylinder market size was valued at USD 15.32 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2022 to 2030. Increasing adoption of hydraulic cylinders in numerous industries such as material handling, construction and infrastructure, marine, and earthmoving is fueling the industry growth. The outbreak of COVID-19 has led to significant volatility in global commodity prices, thereby impacting the demand and supply of raw materials. Lockdown restrictions were imposed across countries to curb the spread of the virus, which led to a severe fallout for the global economy. The pandemic led to a deep recession and impacted production activities, which impacted hydraulic cylinder demand.

In North America, the U.S. had the most confirmed cases of coronavirus, followed by Canada and Mexico. The supply and distribution chains were adversely affected due to the COVID-19 outbreak, which negatively impacted the market growth in the region. The U.S. government is trying to propel the country's growth by investing significantly in various industries such as construction and infrastructure, energy, transportation, pharmaceutical and medicine, and EV infrastructure. For instance, in November 2021, the U.S. government signed a more than USD 1 trillion bipartisan infrastructure plan, thus fueling the growth of the hydraulic cylinder industry.

 

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Detailed Segmenation:

 

Function Insights

The double-acting segment dominated the market and accounted for over 70.0% share of the global revenue in 2021. Double-acting hydraulic cylinders find applications in large-scale engines such as ship motors, steam engines, industrial furnaces, earthmoving, and other construction equipment. The increase in the product demand within the aforementioned applications is expected to propel the demand for double-acting hydraulic cylinders over the forecast period.

 

Product Insights

The welded segment led the industry and accounted for more than 50.0% share of the global revenue in 2021. Welded hydraulic cylinders find applications in various industries such as construction, oil and gas, mining, waste handling and material handling, and heavy equipment. The rise in the consumption of welded hydraulic cylinders in these industries is expected to augment the segment growth.

 

Application Insights

The mobile application segment led the market and accounted for over 50.0% share of the global revenue in 2021. Hydraulic cylinder is widely used in mobile applications such as loaders, excavators, mobile cranes, and telescopic loader. The increasing investment by government and private players in the aforementioned industries is propelling the demand for hydraulic cylinders in mobile applications.

 

Regional Insights

Asia Pacific led the market and accounted for over 30.0% share of the global revenue in 2021. Asia Pacific is one of the largest consumers of hydraulic cylinders in the world owing to the increasing requirement for hydraulic equipment in various industries, such as infrastructure and construction, automotive, renewables, machine tooling, and logistics.

 

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• The global fuel cell market size was estimated at USD 7.35 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 27.1% from 2024 to 2030.

• The global microgrid market size was estimated at USD 76.88 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 17.1% from 2024 to 2030.

 

Some prominent players in the global hydraulic cylinder market include:

• Eaton
• SMC Corporation
• Liebherr
• PARKER HANNIFIN CORP
• Caterpiller
• Bosch Rexroth AG
• Lehigh Fluid Power, Inc.
• Hengli hydraulic
• WEBER-HYDRAULIK GMBH
• Burnside Autocyl
• Pacoma GmbH
• Charvát Group s.r.o
• Southern Hydraulic Cylinder, Inc.
• Yates Industries Inc.
• Texas Hydraulics

 

Hydraulic Cylinder Market Segmentation

Grand View Research has segmented the global hydraulic cylinder market based on function, product, application, and region:

Hydraulic Cylinder Function Outlook (Revenue, USD Million, 2017 - 2030)
• Double-acting
• Single-acting

Hydraulic Cylinder Product Outlook (Revenue, USD Million, 2017 - 2030)
• Welded
• Tie Rod
• Telescopic
• Mill Type

Hydraulic Cylinder Application Outlook (Revenue, USD Million, 2017 - 2030)
• Mobile
• Industrial
• Energy & Power
• Others

Hydraulic Cylinder Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o U.K.
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
• Central & South America
o Brazil
o Argentina
• Middle East & Africa
o Saudi Arabia
o South Africa

 

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Antifungal Drugs Market Innovations, New Developments and Technologies Report

 The global antifungal drugs market size was estimated at USD 15.8 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2030. The growing prevalence of fungal infections such as aspergillosis and candidiasis is one of the key factors propelling the market. Fungal infections encompass both systemic and superficial infections including infections of the skin, eye, mouth, and vagina. Antifungal products with fungicidal activity are mostly used to treat a wide array of diseases, such as athlete's foot, ringworm, and fungal meningitis, caused by fungal agents. Mounting cases of hospital-acquired or nosocomial infections and infectious diseases are poised to propel the growth of the market during the forecast period.

 

Fungal diseases are a public health problem as they can affect any individual. However, there is severe threat of fungal infections to people with weak immune responses such as patients with AIDS. There is a high possibility of development of opportunistic fungal infections in these patients. According to statistics published by the CDC, every year, nearly 152,000 new individuals are affected by cryptococcal meningitis, which is a brain infection and has resulted in 112,000 deaths per year globally. Most of the deaths are reported in sub-Saharan Africa, as the prevalence of HIV/AIDS is more in these countries. This indicates a potential unmet need for highly potent antifungal drugs.

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

Detailed Segmentation:

 

Distribution Channel Insights

Hospital pharmacies led the market in 2023. Hospital pharmacies play a key role in ensuring immediate access to crucial medications. They serve both out-patient and in-patient services, facilitating the seamless treatment of fungal infections. Key drivers for this dominance include their proximity to hospitals, ensuring easy medication access, and providing emergency medication services. The segment's dominance is further underscored by factors such as accessibility, cost-effectiveness, adherence to clinical guidelines, and the global increase in prescription rates, especially with the introduction of fluconazole, driving the consumption of antifungal agents worldwide. Triazoles and terbinafine are witnessing expanded usage due to evolving prescribing patterns and resistance epidemiology changes. Despite their life-saving potential, parenterally administered antifungals such as echinocandins and polyenes may be underutilized.

Regional Insights

North America dominated the market and accounted for 40.9% share in 2023. This region dominance is attributed to the highly developed healthcare infrastructure, better affordability, and increasing awareness. Key players are constantly trying to gain a greater market share through various strategic initiatives. Players in the U.S. are leveraging their commercialization abilities to improve their profit margins. In March 2023, Cidara and Melinta announce FDA approval of REZZAYO (rezafungin for injection) for treating candidemia and invasive candidiasis in adults with limited options. It's a novel once-weekly echinocandin, the first FDA-approved in over a decade, offering potential improvements in managing fungal infections, as demonstrated in clinical trials. Such factors are likely to fuel the market in the country.

Drug Class Insights

The Azoles drug class segment dominated the market and accounted for a revenue share of 47.6% in 2023. This dominance is attributed to the influence of key therapeutic agents, including noxafil, vfend, diflucan, and cresemba. Azoles stand out due to their broad-spectrum activity, effectively inhibiting fungal enzymes and supporting fungistatic actions. They treat various conditions such as candidemia, blastomycosis, systemic candidiasis, and ocular fungal infections. Systemic fungal infections are categorized into triazoles and imidazoles, with triazoles offering improved safety profiles, reduced adverse effects, and enhanced absorption, thereby contributing to the growth of this segment.

Indication Insights

The Candidiasis segment held the largest market share in 2023 due to rising incidence of the disease in immunocompromised patients and high rate of recurrent infections. An increase in the prevalence of opportunistic fungal infections is anticipated to fuel the demand for antifungals over the forecast period. Furthermore, the most commonly occurring systemic fungal infection is systemic candidiasis. Candidiasis is an infection caused by yeast known as candida. It can impact the skin, mouth, gut, throat, penis, and vagina. As per CDC, one of the most common bloodstream infections is candidemia, and it has an incidence rate of 9 per 100,000 people, approximately affecting 25,000 people annually.

Dosage Form Insights

Oral drugs dosage form led the market in 2023. This is attributed to the fact that certain antifungal medications are designed for oral administration to ensure proper ingestion. For instance, oral antifungal medications are commonly prescribed to treat throat and mouth yeast infections, such as thrush. Moreover, oral antifungal medications pose a higher risk of drug interactions compared to over-the-counter topical antifungal creams.

 

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

• The global schizophrenia drugs market size was valued at USD 7.90 billion in 2023 and is projected to grow at a CAGR of 5.3% from 2024 to 2030. The increasing demand is due to the rising prevalence of schizophrenia and other related mental health disorders worldwide.

• The global artemisinin combination therapy market size was valued at USD 597.2 million in 2023 and is projected to grow at a CAGR of 8.2% from 2024 to 2030. It is attributed to the rising malaria in various regions. Malaria remains a significant public health challenge, with millions of cases reported annually.

Key Antifungal Drugs Company Insights

• Pfizer, Inc. is engaged in discovery, development, and manufacture of pharmaceutical products. It has a portfolio of vaccines and medicines. The company operates through two business segments: Essential Health (EH) and Innovative Health (IH).

• Merck & Co., Inc. is a global healthcare company involved in development, discovery, manufacture, and commercialization of prescription, branded, & over-the-counter vaccines, pharmaceuticals, and consumer care products for human & animal healthcare markets

• Enzon Pharmaceuticals, Inc. and Astellas Pharma, Inc. are some of the emerging market participants in the antifungal drugs market.

• Astellas Pharma, Inc. is engaged in import/export, manufacture, and marketing of pharmaceuticals. The company has products in the following segments: oncology, neurology, urology, nephrology, immunology, and women's health treatments.

Key Companies profiled:

• Novartis AG
• Pfizer, Inc.
• Bayer AG
• Sanofi
• Merck & Co., Inc.
• GlaxoSmithKline plc
• Abbott
• Glenmark
• Enzon Pharmaceuticals, Inc.
• Astellas Pharma, Inc.

 

Antifungal Drugs Market Segmentation

Grand View Research has segmented the global antifungal drugs market report based on drug class, indication, dosage form, distribution channel, and region:

Antifungal Drug Class Outlook (Revenue, USD Million, 2018 - 2030)
• Azoles
• Echinocandins
• Polyenes
• Allylamines
• Others

Antifungal Drugs Indication Outlook (Revenue, USD Million, 2018 - 2030)
• Dermatophytosis
• Aspergillosis
• Candidiasis
• Others

Antifungal Drugs Dosage Form Outlook (Revenue, USD Million, 2018 - 2030)
• Oral Drugs
• Ointments
• Powders
• Others

Antifungal Drugs Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
• Hospital Pharmacies
• Retails Pharmacies
• Others

Antifungal Drugs 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 Norway
o Sweden
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East and Africa (MEA)
o Saudi Arabia
o UAE
o South Africa
o Kuwait

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

 

Recent Developments

• In December 2023, Astellas Pharma received FDA approval for Cresemba, an antifungal drug, to treat invasive aspergillosis (IA) and invasive mucormycosis (IM) in children.

• In November 2023, Basilea Pharmaceutica acquires rights to fosmanogepix, a broad-spectrum antifungal, through an agreement with Amplyx Pharmaceuticals. The transformative move strengthens Basilea's clinical antifungal pipeline, with plans for phase 3 studies.

• In October 2023, Basilea Pharmaceutica acquires GR-2397, a clinical-stage antifungal compound, from Gravitas Therapeutics. Rebranded as BAL2062, it targets invasive mold infections, completing a phase 1 study. Basilea plans preclinical profiling, targeting phase 2 by H1 2025. The upfront payment is USD 2 million.

Urinalysis Market Advancements In Urine Biomarkers For Disease Detection

 The global urinalysis market size was valued at USD 2.14 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2030. The market is witnessing growth due to factors including the rising incidence of diseases such as Urinary Tract Infections (UTIs), diabetes, and kidney diseases. For instance, according to the National Diabetes Statistics Report, 2020, around 34.1 million adults aged 18 years and above had diabetes in the U.S. About one-third of diabetic people have kidney-related comorbidities due to high blood sugar and blood pressure. Urinalysis is an informative and noninvasive diagnostic tool accessible to clinicians to diagnose kidney diseases. Hence, the rising prevalence of kidney ailments is anticipated to increase demand for products used in urinalysis, thereby driving market growth.

 

During the initial phase of the COVID-19 pandemic, the market for urinalysis was moderately impacted due to low hospitalization rates and declining sales of urine analysis tests. Nationwide lockdowns imposed by governments to control the spread of infection restricted people’s access to diagnostic and hospital services leading to low demand for diagnostics products. However, a resurgence in testing numbers is seen as countries eased restrictions on movement.

The growing importance of urinalysis for detecting post-COVID-19 diseases, such as acute kidney & tubular injuries, is anticipated to drive market growth. According to a study published by the Columbia University in 2021, kidney injury marker-1 (KIM-1) and urinary NGAL were two sensitive biomarkers for detecting tubular and kidney injury patients.

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

 

Detailed Segmentation: 

 

Product Insights

The consumables segment held the dominant market share of 78.61% in terms of revenue in 2022. This dominance can be attributed to the increasing demand and frequent purchases of reagents and dipsticks by clinical and hospital laboratories. Dipsticks are the most common type of consumable in urinalysis, accounting for the largest share of the market. Reagents measure the levels of specific substances in the urine. The development of new and innovative consumables, such as rapid test kits and point-of-care testing devices, makes urinalysis more accessible and convenient, which drives demand.

Application Insights

The urinary tract infection screening segment dominated the market and accounted for a revenue share of 25.06% in 2022, due to the rising incidence of UTIs worldwide. According to the National Center for Biotechnology Information (NCBI), around 150 million people suffer from urinary tract infections each year worldwide.On the other hand, the diabetes screening segment is expected to expand at the fastest CAGR of 7.3% during the forecast period. Urinalysis is an important screening test to find out about diabetes. According to the CDC, in 2022, around 37.3 million people in the U.S. will be affected by diabetes. Of these, about 28.7 million people are diagnosed, and 8.5 million are undiagnosed. Thus, the steadily increasing number of patients with diabetes acts as a major market driver.

 

End-use Insights

The clinical laboratories segment accounted for the highest revenue share of around 46.15% in 2022. This can be attributed to their easy accessibility to patients and the availability of advanced products in these laboratories. For instance, in the U.S., more than 20,000 clinical laboratories perform clinical tests, including urinalysis. New test methods have been used to improve the detection of kidney diseases, such as proteomics, genetic testing, microarrays, biomarkers, etc.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 38.3% in 2022. This dominance can be attributed to strategic initiatives undertaken by key players, such as licensing agreements, to expand their business footprint. For instance, in August 2020, Sysmex and Siemens Healthcare GmbH signed an exclusive licensing agreement to distribute and service the latter’s automated urine analyzer CLINITEK Novus to hospitals and reference laboratories in North America. Such agreements have had a positive impact on market growth.

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

• The global cancer biopsy market size was valued at USD 30.05 billion in 2023 and is projected to grow at a CAGR of 8.11% from 2024 to 2030. The growth of the market is attributed to the increasing prevalence of cancer, which is propelling the need for innovative diagnostics to provide early and effective diagnostic solutions to patients.

• The global pediatric cancer biomarkers market size was estimated at USD 815.81 million in 2023 and is projected to grow at a CAGR of 8.5% from 2024 to 2030, due to the increasing prevalence of pediatric cancers and advancements in molecular biology.

 

Key Companies profiled:

• Abbott
• Sysmex Corporation
• Siemens Healthcare GmbH
• ACON Laboratories, Inc.
• ARKRAY Inc.
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• F. Hoffmann-La Roche Ltd.
• Quidel Corporation
• Bio-Rad Laboratories, Inc.

Urinalysis Market Segmentation

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

Urinalysis Product Outlook (Revenue, USD Million, 2018 - 2030)
• Instrument
o Biochemical urine analyzers
o Automated biochemical analyzers
o Semi-automated biochemical analyzers
o Automated urine sediment analyzers
o Microscopic urine analyzers
o Flow-cytometric urine analyzers
o Point-of-care urine analyzers
• Consumables
o Dipsticks
o Reagents
o Disposables
o Pregnancy and fertility kits

Urinalysis Application Outlook (Revenue, USD Million, 2018 - 2030)
• Disease Screening
o UTIs
o Diabetes
o Kidney disease
o Hypertension
o Liver disease
o Others
• Pregnancy and Fertility Testing

Urinalysis End-use Outlook (Revenue, USD Million, 2018 - 2030)
• Hospitals
• Clinical Laboratories
• Home Care
• Research and Academics
• Others

Urinalysis Regional Outlook (Revenue, USD Million, 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 Thailand
o South Korea
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East and Africa
o South Africa
o Saudi Arabia
o UAE
o Kuwait

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