Healthcare Industry Insights: April 2021

Friday 30 April 2021

Spatial Genomics & Transcriptomics Market by 10x Genomics, Dovetail Genomics, Illumina, Inc., S2 Genomics, Inc.

The global Spatial Genomics And Transcriptomics Market size is expected to reach USD 381.3 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.1% from 2021 to 2028. Rapid advances in genomics from human sequencing, tissue sequencing, and single-cell sequencing have resulted in the emergence of spatial genomics and transcriptomics sequencing. The market participants are engaged in solidifying their market position through various business strategies considering this market as the lucrative source of revenue in the coming years.

For instance, in May 2020, 10x Genomics introduced its Targeted Gene Expression Solution for single-cell research as well as spatial genomic research. This solution allows researchers to focus on biomarkers and cell types that are important for their studies. The company also initiated shipping of its Visium Spatial Gene Expression Solution in November 2019. Furthermore, the integration of high throughput solutions in omics studies has enabled determining the link between disease occurrence and genome position.

Spatial reorganization of the genome is being identified in several diseases, which is anticipated to boost the application of spatial genome positioning patterns in disease diagnosis. Several small- and large-scale retrospective studies have been carried out to provide proof-of-principle for the use of genome positioning as a diagnostic solution. This is anticipated to spur organic revenue flow in the space by driving the adoption of spatial genomics and transcriptomics technologies. Key players are engaged in offering technologically advanced solutions and platforms to effectively serve the research and clinical domain as well as enhance their revenue share within various end-use settings.

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Spatial Genomics & Transcriptomics Market Report Highlights

The spatial transcriptomics technology segment held the largest revenue share of 82.2% in 2020 owing to the early entry of 10x Genomics and Spatial Transcriptomics company in the space with their product offerings under this segment
By product, consumables accounted for the largest revenue share in 2020 owing to the high penetration of products in terms of usage and purchase rate. Furthermore, the continuous launch of new solutions under this segment, including a new range of in situ sequencing reagent kits by CARTANA in May 2020, is bolstering segment growth
Based on end use, academic customers captured the largest share of 59.3% in 2020 owing to the ongoing extensive research studies within universities and academic institutes pertaining to the study and implementation of the morphological state of cells during disease diagnosis
North America captured the maximum revenue share in 2020 and is expected to maintain its lead throughout the forecast period owing to the presence of key technology suppliers, coupled with expanding R&D spending on the introduction of advanced disease diagnostic solutions in the U.S.
Asia Pacific is anticipated to expand at the fastest CAGR during the forecast period owing to the presence of untapped avenues and low-cost operating and manufacturing centers in the region

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Intracranial Aneurysm Market – Industry Analysis by End Use and Region

The global Intracranial Aneurysm Market size is expected to reach USD 2.10 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.9% from 2021 to 2028. The increasing incidence rate of brain aneurysms worldwide and the growing number of patients suffering from hypertension are driving the market.

A brain aneurysm (also acknowledged as a cerebral aneurysm) is a bulge or ballooning in the blood vessel inside the brain, which usually appears in the lower area of the brain. This may leak or rupture and cause bleeding into the space around the brain leading to brain hemorrhage, stroke, or death. Currently, the cause of brain aneurysms is not clearly understood. However, several factors associated withthis disease include brain injury, aging, atherosclerosis infection, hereditary, sedentary lifestyle, and hypertension. Few prominent symptoms include cranial nerve palsy, localized headache, and double vision. Thus, the increasing number of patients suffering from an intracranial aneurysm is significantly fueling market growth.

In addition, technological advancements in the treatment of intracranial aneurysms are expediting the overall market growth. Treatment of this cerebrovascular disorder has improved due to innovative devices, such as balloons, microcatheters, microwires, and stents. Therefore, complications related to treatment have been reduced with the help of these technological advancements.

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Intracranial Aneurysm Market Report Highlights

Based on type, the endovascular coiling segment dominated the market in 2020 with a share of 85.25% due to increasing application in minimally invasive neurosurgeries and its easy access to multiple aneurysms in the distant area
On the basis of end use, the hospitals segment dominated the market in 2020 with a share of 88.95%. Intracranial aneurysm procedures are amongst the most complicated surgeries that are dependent on high quality and durable equipment available in hospitals
North America dominated the market with a revenue share of 27.17% in 2020owing to the growing aging population and high incidence of hypertension and stroke in the region
Manufacturers are focusing on the introduction of innovative medical devices, growth strategies, and technological advancements. For instance, in April 2019, Stryker launched a flow diverter for the treatment of brain aneurysm

Sternal Closure Systems Market by Zimmer Biomet, Johnson & Johnson, B. Braun Melsungen AG

The global Sternal Closure Systems Market size is expected to reach USD 3.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.6% from 2021 to 2028. The market is driven by the growing number of surgeries undertaken to treat complex cardiovascular problems. For instance, according to the data published by the Centers for Disease Control and Prevention (CDC), around 30.3 million or 12.1% of U.S. adults were diagnosed with heart disease in 2018.

The National Health Interview Survey conducted by CDC in 2016 concluded that 28.1 million people were diagnosed with heart-related disorders including, valvular heart disease, cardiac arrest. Moreover, technological advancements such as Talon systems, double sternal wires, and favorable reimbursement criteria would propel growth in the near future.

Mergers and acquisitions, new product development, and geographical expansion are key sustainability strategies adopted by players in the market. For instance, in December 2020, Zimmer Biomet Holdings Inc., acquired A&E Medical Corporation to gain access to its product portfolio, ensuring long-term growth.

Related Press Release@ Sternal Closure Systems Market Report

Sternal Closure Systems Market Report Highlights

North America dominated the market in 2020, attributed to the presence of a large number of players and high competitive rivalry in the market
By product, the closure devices segment held major shares of the market in 2020, owing to the introduction of technologically advanced clips and wires globally and favorable reimbursement regulations offer by developed regions such as North America and Europe
By procedure, the median sternotomy segment dominated the market in 2020, as it is among the frequently performed osteotomies worldwide
By material, the PEEK segment is anticipated to post significant growth over the coming years due to several benefits offered by the material, including biocompatibility, chemical resistance, end-product purity, high-temperature resistance, and thermoformable nature

Brain Implants Market: Key Companies & Market Share Insights

The global Brain Implants Market size is anticipated to reach USD 9.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.1% from 2021 to 2028. The rise in neurological disorders such as epilepsy, Parkinson’s disease, depression, and tremors as well as growing investments in R&D to develop cost-effective brain implants is attributing to the growth of the market.

Presence of large number of population base suffering from various neurological and physiological disorders and conditions is expected to boost the demand for the implants during the forecast period. For instance, rising prevalence of Parkinson’s disease is boosting the demand for the implants as it helps in improving the movement of the body and reduces the need for drugs. As per the Parkinson’s Foundation 2016 report, over 10 million people globally are living with PD. Thus, with the increasing cases of Parkinson’s disease, the need for the implants is anticipated to grow lucratively.

In addition, technological advancement such as self-charging brain implants and memory chips is anticipated to provide the market with growth opportunities over the forecast period. For instance, in January 2020, Abbott’s Infinity DBS received an extended indication approval from the U.S. FDA for PD treatment.

Related Press Release @ Brain Implants Market Report

Brain Implants Market Report Highlights

On the basis of product type, the deep brain stimulator segment dominated the market in 2020 and accounted for the largest revenue share of 37.0% owing to rising geriatric population prone to neurological diseases coupled with growing investments in development of the stimulators
Based on application, the chronic pain segment dominated the market in 2020 with the share of 58.8% due to increasing prevalence of chronic pain disorders such as migraine, leg pain, and disk surgery pain. According to Migraine Research Foundation 2020, Migraine is the 3rd most prevalent neurological illness across the world, affecting 1.0 billion worldwide
North America dominated the market with the highest revenue share of 42.9% in 2020. This is due high prevalence of psychological disorders, availability of highly skilled physicians, and rise in awareness about treatments in this continent
Asia Pacific is expected to significantly lead the market in the future from 2021 to 2028 owing to increasing affordability and rising number of awareness programs about benefits of the implant

Thursday 29 April 2021

Extracorporeal Membrane Oxygenation Machine Market by Medtronic plc, Sorin Group, Terumo Cardiovascular Systems Corporation

The global Extracorporeal Membrane Oxygenation Machine Market size is expected to reach USD 398.6 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.1% from 2021 to 2028. The market is primarily driven by the increasing incidence of cardiopulmonary and respiratory diseases and technological advancement in the field of ECMO procedures. Cardiovascular disease is one of the leading causes of death globally.

According to the WHO, 17.9 million people died from cardiovascular diseases in 2016. In addition, according to the Extracorporeal Life Support Organization, a total of 45,035 patients globally suffered from respiratory illnesses in 2016. Furthermore, increasing awareness about ECMO procedures, coupled with various government initiatives, is further propelling the growth.

The increasing survival rate of ECMO machine supported surgery for cardiac and respiratory patients is also augmenting the market growth. Applications of ECMO machine procedures have been increased over the years. ECMO machine was traditionally used in cases of circulatory or respiratory failure. Its applications have expanded to use as rescue therapy for post-organ transplantation and sepsis and in cases of heart failure.

The ECMO machine use has been rising gradually worldwide owing to its benefits such as artificial lung for the patients and growing awareness about its use. Moreover, increasing healthcare expenditure by government and private agencies in order to improve healthcare facilities is adding growth to the market. According to the American Heart Association, medical expenditure related to CVDs is expected to reach USD 960 billion by 2030 from USD 320 billion in 2011. Major players in the market are focusing on technological collaboration and product launches.

Related Press Release @ Extracorporeal Membrane Oxygenation Machine Market Report

Extracorporeal Membrane Oxygenation Machine Market Report Highlights

North America accounted for the largest share in 2020 owing to favorable reimbursement policies, the presence of key players, and government initiatives
By component, the oxygenator segment accounted for the largest share in 2020 owing to its high cost and usage
In terms of modality, the veno-arterial segment accounted for the largest share in 2020 and is expected to grow at the fastest rate during the forecast period
Based on patient type, the adult segment is expected to grow at a rapid pace during the forecast period owing to the rising incidence of cardiac and pulmonary diseases
On the basis of application, the respiratory segment held the largest market share in 2020 and is expected to grow at the fastest rate over the forecast period

Clinical Trial Imaging Market is Projected to Register 6.1% CAGR till 2028

The global Clinical Trial Imaging Market size is expected to reach USD 1.4 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.1% from 2021 to 2028. The increasing R&D spending to develop new drugs and therapies to treat chronic diseases is propelling the market growth.

Clinical trial imaging makes use of imaging technology in clinical trials for seeing the interior parts of the body. The images obtained from clinical trial imaging are used to examine drug activity. Clinical trial imaging provides rapid, detail, and precise screening. The use of clinical trial imaging has rapidly increased in all phases of the clinical trials. Medical imaging in clinical trials is used as a primary, quantitative, and surrogate biomarker.

The clinical trial design includes selecting patient population, stratification based on biomarkers, different methods for allocation treatments, choosing efficient and reliable endpoints and validation of surrogate endpoints, calculating sample size, trial simulations, adaptive trial set-up, statistical and interim analysis, and assisting clients to deal with regulatory authorities, such as EMA and FDA, to discuss study design or defend study results.

Market players provide analytical testing services, pharmacokinetic, reading, and pharmacodynamics services for enhanced clinical development. IXICO offers advanced technologies for catalyzing clinical trials in neuroscience. Imaging biomarkers by the company help in measuring the safety and effectiveness of therapies used for neuroimaging. Imaging biomarkers are effective in radiological reads. This provides a radiological reading of MRI scans for central neuro to enhance the assessment of ongoing monitoring of drug safety and subject eligibility.

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Clinical Trial Imaging Market Report Highlights

Based on service, project and data management services held the largest share in 2020 due to the growing requirement of data management and workflow for clinical trial imaging
Operational imaging services held a significant share in 2020. They include imaging modalities such as MRI, CT scan, X-ray, ultrasound, OCT, PET, and SPECT. CT scan modality is gaining popularity due to its non-invasive nature and its ability to provide detailed information about the disease for enhanced treatment
The others application segment held the largest share in 2020. This segment includes oncology, neurology, and musculoskeletal. Market players such as ICON, Bioclinica, Navitas Life Sciences, and Paraxel International are developing their clinical trial imaging services for these applications
By end-use, CROs held the largest share in 2020 due to increasing investments in the field of research and development and snowballing outsourcing activities by the pharmaceutical and biotechnology companies to cut down the cost and time and patent expiration
North America dominated the market in 2020 due to the increasing geriatric population, rising chronic diseases, and growing demand for treatment options

Wednesday 28 April 2021

Hospital Gowns Market: Emerging Trends and Growth Opportunities, 2028

The global Hospital Gowns Market size is expected to reach USD 8.26 billion by 2028 registering a CAGR of 12.8%, according to a new report by Grand View Research, Inc. The rising incidence of Hospital Acquired Infections (HAIs) and increasing number of surgical procedures are the key driving factors for the market growth. The recent outbreak of Covid-19 is also anticipated to have a significant impact on market growth.

The global pandemic has drastically increased the demand for medicines, emergency supplies, and hospital equipment including gowns, antiseptics, and disinfectant products. Covid-19 is a zoonotic virus and bats were considered to be the key reservoir of the virus. The intermediate host has not been identified yet and transmission has mainly taken place through fomites & droplets during close unprotected contact between infector & infected. Till now airborne transmission of the virus has not been reported. Thus, increasing hospital admissions across the globe have increased the demand for hospital gowns.

The WHO has appealed to industries and governments to increase the manufacturing of Personal Protective Equipment (PPE), including hospital gowns, gloves, medical masks, face shields, aprons, respirators, and goggles, by 40% to meet the increasing global demand. It also reported that the rise in demand for these accessories has increased their prices to a major extent. For instance, the price of surgical masks has increased six-fold and the price of hospital gowns has increased two-fold.

Related Press Release@ Hospital Gowns Market Report

Hospital Gowns Market Report Highlights

In terms of revenue, the surgical gowns segment held the largest share in 2020 owing to the rising incidents of chronic diseases and increasing number of surgical procedures
The reusable gowns segment is anticipated to witness the fastest growth over the forecast period owing to the increasing cases of Covid-19
The high-risk hospital gowns segment held the largest share in 2020 owing to the increased demand across the globe
Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to the increasing cases of diabetic foot ulcers and rising number of surgical procedures

COVID-19 Detection Kits Market by Thermo Fisher Scientific, Inc., Perkin Elmer, Inc., Veredus Laboratories

The global COVID-19 Detection Kits Market size is expected to reach USD 4.63 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.05% during the forecast period. The COVID-19 pandemic has posed several challenges to the global healthcare systems. The diagnostics area is recognized as one of the primary elements of efforts to contain the spread and circumvent its adverse impact globally. As a result, companies are ramping up their production process to meet the demand or kits and reagents as well as at-home tests, thereby driving the market revenue.

Constantly increasing demand for rapid diagnostic tests that can deliver results in less time coupled with a shortage of testing materials has triggered the development of antibody and antigen test kits. For instance, in August 2020, Abbott Laboratories secured approval for a COVID-19 portable antigen test that can deliver results in 15 minutes.

Despite the time and cost-related challenges, molecular assay remains the key detection method owing to high sensitivity and specificity. As a result, the kits for RT-PCR based molecular assay are witnessing a huge rise in demand across the globe. The continuous growth in the shipping of the molecular test kit depicts the high demand for these kits. For instance, in May 2020, Siemens Healthineers announced its plans to ship more than 2.5 million molecular PCR test kits per month.

Related Press Release@ COVID-19 Detection Kits Market Report

COVID-19 Detection Kits Market Report Highlights

RT-PCR assay kits are estimated to account for the major revenue share owing to the high usage rate of PCR testing. High reliability of test results is the key contributing factor of high adoption of RT-PCR assays across the globe
Nasopharyngeal (NP) swabs are estimated to capture maximum revenue share owing to the dependence of RT-PCR assays on NP swabs. Healthcare institutes and testing service providers have collaborated with market participants for the supply of NP swabs to test patients at a large scale
Centralized testing (Non-PoC) is currently the key mode of testing and thus it is anticipated to maintain its dominance through 2020. Through this mode, healthcare professionals can process a massive number of samples with great efficiency and a high level of automation, thereby driving the segment growth
In the current market, laboratories is the key revenue-generating end-user segment with a high number of a testing process taking place within laboratory settings
With a high number of cases and testing, Asia Pacific is anticipated to maintain its dominance throughout the forecast period. Asian countries are focusing on rapid antigen testing as a cost-effective strategy to contain the spread, resulting in the revenue growth of this region
Some of the key players operating in the COVID-19 detection kits industry include Quidel Corporation; Abbott; Becton, Dickinson and Company, and Thermo Fisher Scientific, Inc.

COVID-19 Drug Delivery Devices Market - Future Trends, Revenue Growth & Leading Players, Forecast To 2027

The global COVID-19 Drug Delivery Devices Market size is expected to reach USD 2.15 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.1% from 2022 to 2027. The market is expected to gain significant traction over the forecast period as various nasal drug delivery technologies for administrating COVID-19 vaccines are under clinical and pre-clinical development. For instance, in April 2020, Verndari, Inc. initiated the preclinical trials for coronavirus vaccine using its patented microneedle array dermal patch- VaxiPatch.

The nasal, dermal, and needle-free are alternatives to the traditional syringe vaccine platforms. These devices potentially reduce or eliminate needlestick injuries and reduce the associated treatment costs. According to the research article published in PLUS ONE Journal, November 2019, needlestick injury (NSI) is among a major burden in medical settings, leading to the transmission of infectious diseases, such as hepatitis and HIV.

According to the article published in StatPearls publishing, December 2019, around 2-4% of healthcare workers develop hepatitis C after suffering from needlestick injuries. The CDC further stated that needlestick injuries cost an estimated USD 3,042 per victim annually in the U.S.

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COVID-19 Drug Delivery Devices Market Report Highlights

North America is anticipated to capture the largest share in 2021 owing to growing investment by government organizations for vaccine development, the surge in COVID-19 cases, and intensive R&D conducted by the key players
By product, the prefilled syringe segment is expected to dominate the market in 2021 as these cost-effective delivery devices will be manufactured in bulk quantities for vaccine administration and will be the first among the approved products
By route of administration, the parenteral segment is expected to dominate the market in 2021 as the injection devices are affordable and are among the easily available devices
By distribution channel, the hospital pharmacies segment is expected to account for the largest market share in 2021 as these drug delivery devices require medical assistance for vaccine administration
Market players are adopting several strategies such as significant investment in research and development and product innovation via collaborations with technology providers and universities to gain a significant share in the global market.

Thursday 22 April 2021

Craniomaxillofacial Devices Market Overview, Growth Prospects and Outlook Report, 2028

The global Craniomaxillofacial Devices Market size is expected to reach USD 3.2 billion by 2028 registering a CAGR of 9.0% over the forecast period, according to a new report by Grand View Research, Inc. Craniofacial surgery treats conditions that affect the head, skull, face, and neck. The rise in the number of facial and head injuries caused due to road accidents and increasing cases of sports-related injuries are expected to boost demand for craniomaxillofacial (CMF) devices.

Growingpreferencefor minimally invasive surgeries is also one of the key factors expected to support market growth. Organizations, such as the American Society of Craniofacial Surgery (ASCFS) and the International Society of Craniofacial Surgery (ISCFS), are conducting a research program in a probe to increase awareness of CMF surgeries, boosting consumer awareness about the craniomaxillofacial devices. This is also projected to help boost the overall market growth.

Neck injuries are one of the most common types of injuries in vehicle accidents. Over 800, 000 cases of vehicle crashes involving neck injuries are reported per year in the U.S. Moreover, sports injuries, car accidents, and falls were some of the leading causes of head injuries in the country. Hence, the U.S. is expected to be a potential market for CMF device manufacturers. The global pandemic has led to the cancellation and rescheduling of surgical procedures, which will hamper the market growth to some extent.

Related Press Release @ Craniomaxillofacial Devices Market Report

Craniomaxillofacial Devices Market Report Highlights

In 2020, the CMF plate and screw fixation segment led the global market due to the rise in the number of surgeries requiring bone stabilization
The bioabsorbable material segment is estimated to register the fastest CAGR during the forecasted period due to technological advancements
Neurosurgery & ENT is expected to be the fastest-growing application segment from 2021 to 2028 due to an increase in the volume of surgical procedures pertaining to trauma and the adoption of deep brain stimulation procedures
Latin American region is projected to be the fastest-growing regional market during the forecast period on account of rising cases of accidents in Brazil and Mexico

Point Of Care Diagnostics & Testing Market Worth $35.74 Billion By 2028

The global Point Of Care Diagnostics & Testing Market size is estimated to reach USD 35.74 billion by 2028, registering a CAGR of 3.25%, according to a new report by Grand View Research, Inc. Point of care (POC) diagnostics & testing has significantly altered the therapeutic models applied for the treatment of diabetic patients, HIV patients, and patients with Cardiovascular Disorders (CVDs), in recent years. In addition, emerging advancements on the horizon are projected to enhance the near-patient treatment workflows for infectious diseases, strokes, and cancer.

The industry is set to witness lucrative growth as POC testing serves as a profitable alternative to traditional laboratory tests. Point-of-care devices are designed to offer actionable information at the location and time of patient care, which enables early diagnosis of diseases. The advent of non-invasive & minimally invasive POC devices, continuous POCT, miniaturized technologies, and the adoption of telemedicine in remote patient monitoring are some of the key trends contributing to the market growth.

Moreover, the advent of rapid data sharing solutions as well as platforms is set to contribute to the development of POC COVID-19 tests, supplementing the overall market growth. Companies actively working toward the development of such rapid data sharing solutions include Foundation for Innovative New Diagnostics (FIND) and 360 Dx. The rising number of such companies is set to offer manufacturers/developers and professionals a clear perspective with respect to the future opportunities associated with POC COVID-19 tests.

The development of multiplex POC diagnostic technologies that enable the detection of multiple infectious pathogens in specimens, such as sputum, urine, or blood, offers improved patient outcomes and better disease diagnosis. The wide adoption of multiplex POC devices is anticipated to serve as a driver for the shift in preference from a centralized disease testing model to a decentralized patient-centered model.

Major companies are initiating strategic product launches to strengthen their market presence. For instance, in October 2020, Roche announced the launch of the Elecsys SARS-CoV-2 Antigen test that supports COVID-19 testing of suspected patients at high volumes. In April 2020, Nova Biomedical introduced PT/INR testing for its Allegro capillary blood analyzer to be used in POC primary care settings. This test is available in CE-regulated countries.

PR/INR is among the total 18 tests of the Allegro platform and is designed to measure HbA1c, hemoglobin, cholesterol, glucose, triglycerides, UACR, creatinine, hematocrit, and uric acid. This product expanded the testing portfolio of the company’s Allergo platform.

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Point of Care Diagnostics & Testing Market Report Highlights

The glucose testing product segment led the market in 2020 due to high demand for POC glucose monitors for routine glucose testing as a result of an increased number of diabetic patients across the globe
The infectious disease product segment is expected to account for the highest revenue share by 2028. This growth is majorly attributed to the global COVID-19 pandemic
The first POC diagnostic test for COVID-19 was approved by the U.S. FDA in March 2020 under Emergency Use Authorization, which was manufactured by Cepheid
Since then, key players in this market are engaged in developing and manufacturing such tests, which, in turn, is boosting the segment growth
The clinics end-use segment accounted for the dominant revenue share in 2020 and will expand further at a steady CAGR from 2021 to 2028 owing to increasing transition from conventional lab testing to POCT by healthcare professionals to shorten the time taken for diagnosis and further treatments
Led by the U.S., North America was the leading regional market in 2020 and held a revenue share of more than 34%

Urinary Catheters Market - By Top Players, Latest Trends, Demand Analysis and Forecast

The global Urinary Catheters Market size is anticipated to reach USD 7.94 billion by 2028 registering a CAGR of 7.0%, according to a new report by Grand View Research, Inc. Increasing number of patients suffering from Urinary Tract Infections (UTI) and blockages in the urethra are anticipated to boost the product demand. The advent of technologically advanced products is also expected to drive market growth. For instance, RIOCATH - a Reversal Inside Out Catheterization, developed by Riocath global in collaboration with IOCB Prague, reduces the chances of infections in the body.

The key application segments include Benign Prostate Hyperplasia (BPH) & prostate surgeries, Urinary Incontinence (UI), spinal cord injury, and others. Among these, UI is the largest application segment owing to the increasing prevalence of the disease. Factors such as surgery of the prostate gland, spinal cord injury, injury to the bladder nerves, blockage in the urine due to kidney stones, and blood clots in the urine can cause UI. However, the BPH & prostate surgeries application segment is estimated to register the fastest CAGR during the forecast years. Based on product types, the market is divided into intermittent, foley/indwelling, and external catheters. The intermittent catheters segment dominated the overall market in 2020. This can be attributed to the increasing number of patients suffering from various urinary disorders.

Related Press Release @ Urinary Catheters Market Report

Urinary Catheters Market Report Highlights

North America was the leading regional market with the highest revenue share in 2020 and is estimated to expand further at a steady CAGR from 2021 to 2028
This growth can be attributed to the high incidence of targeted diseases, such as UI, bladder obstruction, urinary retention, Benign Prostate Hyperplasia (BPH), and bladder cancer, in the region
The key players are introducing technologically advanced products to gain a competitive advantage in the industry
For instance, Coloplast is planning to expand its SpeediCath product portfolio by launching the SpeediCath Navi, which is designed especially for the treatment of patients suffering from chronic urine retention

Related Report @ Catheters Market

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Catheters Market - By Top Players, Latest Trends, Demand Analysis and Forecast

The global Catheter Market size is anticipated to reach USD 74.84 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2021 to 2028. The increasing prevalence of chronic diseases and improving medical facilities are some of the prime attributes boosting the market growth. Moreover, the rapidly growing geriatric population base has led to increased hospitalization rates and surgeries, which is anticipated to boost the market growth.

The rise in the prevalence of various chronic disorders, such as cardiovascular disorders, urology disorders, strokes, and other chronic conditions, is expected to increase the demand and use of catheters in medical settings. As per the WHO, every year, 41 million people die due to chronic illnesses, which accounts for 71% of all deaths globally and 60% of the global burden of disease in 2020. Thus, with the rise in these diseases, the use of catheters is bound to increase over the study period. Moreover, an increasing number of people in developing countries of APAC and Latin America are suffering from diabetes owing to factors, such as sedentary lifestyle and dietary irregularities. This, in turn, is expected to boost the use of catheters in medical settings.

Technological advancements play a crucial role in driving the catheters market. For instance, the introduction of miniaturized and antimicrobial catheters to reduce catheter-associated infections is expected to favor the market growth. For instance, Teleflex introduced Arrow acute hemodialysis catheters based on ARROWg+ard Antimicrobial Technology, which is known for its broad-spectrum of antimicrobial protection.

Related Press Release @ Catheter Market Report

Catheter Market Report Highlights

On the basis of product type, the cardiovascular catheters segment dominated the market in 2020 with a share of 28.03% owing to the rise in the prevalence of cardiovascular disorders which, in turn, is increasing the demand for the interventional cardiac procedures
Based on distribution channel, the hospital stores segment dominated the market in 2020 with a share of 53.83% owing to an increase in the number of hospital admission rates and an upsurge in surgical procedures globally
North America dominated the market with a revenue share of 32.05% in 2020 owing to the high incidence rate of chronic disorders as well as the availability of highly skilled physicians in this region

Pharmacovigilance Market is Projected to Register 11.5% CAGR till 2028

The global Pharmacovigilance Market size is expected to reach USD 14.95 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.5% from 2021 to 2028. The increasing incidence of Adverse Drug Reactions (ADR) is the key growth factor. ADR imposes a substantial burden on healthcare systems and is one of the prominent causes of morbidity in developed countries. According to the National Center for Biotechnology Information (NCBI), approximately 5% of total hospitalizations in Europe each year are due to ADR. Pharmacovigilance services play an integral role in this clinical trial phase by assisting manufacturers in identifying adverse effects associated with the drug.

According to the World Health Organization's (WHO) report on pharmaceutical consumption, medicines to treat chronic diseases accounted for a larger proportion of the total volume of drug consumption in non-hospital setups. Hence, there has been a significant rise in the number of medicines made available to healthcare consumers. The rising demand for drugs has significantly heightened the need for the development of novel therapeutics via extensive clinical trials, which is expected to serve this market with lucrative opportunities.

Moreover, leading pharma companies in developed countries are focusing on outsourcing PV services to reduce costs and minimize operational expenses. This is anticipated to serve as an opportunity for contact research organizations in developing regions to gain more revenue share. Manufacturers are now focusing on remodeling their product development processes in an attempt to cater to patient needs across the globe. These factors are anticipated to fuel the demand for pharmacovigilance services during the forecast period.

Industry participants are focusing on increasing R&D activities to develop better pharmacovigilance services. Companies are also adopting strategies including new product launches and mergers & acquisitions to gain a competitive advantage. Moreover, they are undertaking collaborations with the PV service providers to gain access to medical information and manage PV workflows. For instance, in September 2019, Accenture collaborated with Bayer to implement the company's INTIENT Clinical platform to simplify and speed up its drug development processes, thereby widening its business. The company collaborated with BioCelebrate in 2017 to develop a platform for aggregating and analyzing clinical information for improved drug development efficiency, thus enhancing its R&D capabilities. Such initiatives help companies maintain their market position.

Related Press Release @ Pharmacovigilance Market Report

Pharmacovigilance Market Report Highlights

By product life cycle, phase IV held a dominant share of 75.61% in 2020 owing to the extensive post-marketing surveillance of pharmaceuticals and an increasing number of ADR incidences in the market
In terms of service provider, contract outsourcing held a significant share of 59.24% as of 2020 owing to the shift in the focus of pharmaceutical companies to outsourcing services to reduce operational cost
Based on type, spontaneous reporting held the largest revenue share in 2020 due to its wide application in pharmacovigilance and benefits such as easy simulation of data sets for better drug comparison
On the basis of end-use, the biotechnology companies segment is anticipated to exhibit a lucrative CAGR of 12.6% over the forecast period owing to the increasing R&D for the development of novel biologics
Asia Pacific is anticipated to exhibit a lucrative CAGR of 13.2% in the forthcoming years. This is attributed to the availability of low-cost labor and the rising number of outsourcing companies in this region

End Stage Renal Disease Market Size, Analysis, Trends, Top Manufacturers, Growth, Scope, Opportunities and Forecast to 2028

The global End Stage Renal Disease Market size is anticipated to reach USD 193.8 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 12.7% from 2021 to 2028. The increasing number of patients suffering from end stage renal disease (also known as kidney failure) and the rising prevalence of hypertension and diabetes are fueling the market growth.

Chronic kidney disease (CKD) is one of the major causes of increasing kidney failure rates among patients. According to the CDC, it is estimated that more than 37 million people in the U.S. suffer from CKD, whereas globally more than 500 million people (12-18% of the world population) are affected.

The COVID-19 pandemic has impacted the healthcare industry and people suffering from end stage renal disease (ESRD) are at a higher risk of contracting this virus as they have to visit the hospitals often for dialysis. Center-based hemodialysis is the main renal replacement medium in most countries, with almost 90% of the ESRD population opting for it. Hemodialysis patients have to stay in hospitals for 4 hours minimum, 3 times a week, and come in frequent contact with the medical staff and other patients. All these factors increase their risk of infection.

Technological advancements including the innovation of wearable artificial kidney (WAK) in the treatment of renal failure are expediting the overall market growth. WAK is a portable dialysis device designed to enable patients to live healthier as it controls blood pressure, improves clearance of wastes from the blood, and allows ESRD or CKD patients for a less strict diet, resulting in lower fluid weight gain in addition to lowered stress on the heart. Thus, technical advancements in WAK have the potential to reduce mortality in dialysis patients, which thereby improves an ESRD patient’s quality of life. The WAK prototypes designed and patented by innovative firms have been approved for human clinical trials by the U.S. FDA in 2016.

Related Press Release @ End Stage Renal Disease Market Report

End Stage Renal Disease Market Report Highlights

By treatment, the dialysis segment dominated the ESRD market in 2020 owing to its ease of use and emergency convenience
The transplant treatment segment is expected to expand at the highest CAGR from 2021 to 2028
Asia Pacific dominated the market in 2020 owing to the large population of patients with CKD/ESRD and greater incidence of hypertension and diabetes in the region

Wednesday 14 April 2021

Virtual Clinical Trials Market Worth $11.5 Billion By 2028 | CAGR: 5.7%

The global Virtual Clinical Trials Market size is expected to reach USD 11.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2021 to 2028. The need for patient diversity clubbed with enhanced data collection in clinical trials is boosting virtual/decentralized clinical trials (DCTs) market growth.

There has been a rise in the R&D of new drugs and vaccines that has increased the volume and complexity of the trials. Virtual clinical studies eliminate challenges posed by traditional research studies, for example, delays in patient recruitment and time-consuming procedures. Also, studies have revealed that around 75.0% of people favored a mobile trial over traditional ones and 80.0% of patients are more likely to participate in a research study that uses mobile technology.

The current pandemic of COVID-19 is making the clinical trial industry change the way of conducting ongoing or upcoming research studies. The pandemic, for the first time in history, has resulted in the global disruption of traditional onsite research studies. Hence, the regulatory bodies such as the U.S. FDA, the European Medicines Agency (EMA), the National Institutes of Health (NIH), and China’s National Medical Products Administration (NMPA), and several other regulating authorities have issued guidelines related to the conduct of research studies during the outbreak of coronavirus, and are in complete support of incorporating virtual services.

Virtual research studies make use of monitoring devices, software apps, and online social engagement platforms to conduct every step of the clinical trial process including patient recruitment, counseling, measuring clinical endpoints, informed consent, and adverse reactions. Telehealth, home care, and remote patient monitoring have been gaining momentum as a healthcare offering, and the COVID-19 is adding more horsepower to this initiative.

Related Press Release @ Virtual Clinical Trials Market Report

Virtual Clinical Trials Market Report Highlights

The oncology segment held 25.0% of the market share in 2020. The increasing adoption of virtual trials especially in oncology research for the diverse population is responsible for the growth of the segment
The interventional design segment accounted for the largest revenue share of 46.6% in 2020
North America held 49.4% of the market share in 2020, in terms of revenue. Favorable government initiatives and the presence of large numbers of players in the U.S. offerings advanced services are responsible for market growth
In Asia Pacific, the market is expected to witness the fastest CAGR of 6.8% over the forecast period owing to the increasing patient pool and cost-efficient services