Healthcare Industry Insights: July 2021

Friday, 9 July 2021

Brachytherapy Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2028

The global Brachytherapy Market size is expected to reach USD 1.4 billion by 2028, according to a new study by Grand View Research Inc. The market is expected to expand at a CAGR of 7.1% from 2021 to 2028. The growth of the market is largely attributable to the rising prevalence of cancer, technology advancements, and increasing investment in R&D by major players.

According to the International Agency for Research on Cancer, the global incidence of cancer is expected to rise to 24.6 million by 2030, from 19.3 million in 2020. This is expected to be a major factor driving the growth of the market. Additionally, technological advancements and favorable reimbursement scenarios, particularly in the developed countries, are expected to drive market growth.

However, the lack of access to technologically advanced systems particularly in developing nations, and the lack of skilled radiotherapy professionals are expected to restraint market growth. Around 70% of the cancer-related deaths occur in low-and-middle-income countries; however, only 3-4% of the radiotherapy needs of the population in these countries are met. This represents significant opportunities for investment for the key market players.

New product launch is one of the key strategies adopted by the leading companies. For instance, in July 2018, IsoRay received FDA clearance for GammaTile Therapy for the treatment of recurrent brain neoplasms. The launch of such technologically advanced products is further expected to propel growth.

Related Press Release @ Brachytherapy Market Report

Brachytherapy Market Report Highlights

The HDR segment held the largest revenue share in 2020. The various advantages of HDR internal radiation therapy such as short procedure time, protection from radiation exposure, and higher efficacy are key factors contributing to the dominance of this segment
The electronic brachytherapy segment is expected to witness the fastest CAGR over the forecast period owing to advantages such as minimal exposure of treating staff to radiation, low dose radiation to organ at risk, and no radioactive waste
Prostate cancer accounted for the largest revenue share of more than 32.0% in 2020. The promising applications of internal radiation therapy in the treatment of prostate cancer is a major factor for the dominance of this segment
In terms of revenue, North America accounted for the largest revenue share of 45.0% in 2020. According to IAEA’s Directory of Radiotherapy Centres (DIRAC), as of 2020, the U.S. alone has around 766 brachytherapy systems

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Medical Flexible Packaging Market Analysis By Product and End-use

The global Medical Flexible Packaging Market size is expected to reach USD 26.3 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.5% from 2021 to 2028. Increasing demand for pharmaceutical products in emerging economies as well as growing demand for drug delivery systems in developed countries are driving the growth of the market. The use of flexible packaging is increasing in the healthcare industry as the companies operating in the industry are opting for sustainable functions and materials, such as paper. Paper-based packaging is included in green packaging as it is highly recyclable and economical.

The flexible packaging is well suitable for single-time use. This is especially beneficial in the packaging of single-use products, which are becoming increasingly popular to avoid the risk of cross-contamination. The products can be sterilized along with the packaging, which has reduced the chance of contamination while manufacturing the products.

The most widely used materials in the market are plastics followed by metal, paper, and bioplastics. Bioplastics are becoming increasingly popular due to government regulations regarding plastic usage & waste, as well as initiatives by several companies to adopt sustainable operations. The high tensile strength and the wide variety of products available in plastics, along with its low cost, have made it a preferable choice over its metal counterparts for packaging in the healthcare industry.

High-barrier films are largely utilized across the healthcare industry as they prevent the permeation of light, gas, flavor, aroma, oxygen, oil, water vapor, and water. These films are available in a wide variety, making them compatible with most equipment and drugs; additionally, most high-barrier film providers offer packaging made from a variety of materials to establish a one-stop solution for drug & equipment manufacturers. The high-barrier films segment is thus expected to show the highest growth rate over the forecast period.

Biologics and other such patient-oriented medicines are expected to have a positive impact on the pharmaceutical manufacturing end-use segment. The demographic trends, such as increasing cases of obesity as well as growing aging population, are expected to drive the segment further. In addition, the advancements in bioengineering and rising awareness about cosmetic implants are aiding the implant manufacturing segment.

Related Press Release @ Medical Flexible Packaging Market Report

Medical Flexible Packaging Market Report Highlights

The plastics material segment dominated the market with a revenue share of 74.39% in 2020 and will grow steadily over the forecast years due to the easy availability of superior-quality medical-grade plastics
In addition, growing research & development activities focused on inducing inert properties in plastics are expected to increase the demand for plastics in new applications
Pouches and bags accounted for the largest revenue share in 2020. Pouches & bags are sturdy and lightweight, which makes them an ideal packaging solution for numerous products, including ones that are usually packed in rigid packaging
Central & South America is expected to witness a CAGR of 5.9% over the forecast period on account of growing investments by private companies in the healthcare sector and rising cases of chronic diseases across the region
Major companies focus on mergers and acquisitions to expand their reach and compete with rival companies. The merger valuations of companies in the market are expected to increase as an attempt to achieve product leadership in individual categories
Restructuring and divestment strategies are adopted as well to focus on particular products to establish a monopoly for the same. Companies are expected to find a balance between innovations and investments to establish an eco-friendly and cost-effective process along with regulating price levels

Pharmaceutical Robots Market Size Worth $297.4 Million By 2028

The global Pharmaceutical Robots Market size is expected to reach USD 297.4 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.3% from 2021 to 2028. The growing pharmaceutical industry and numerous benefits offered by robotic systems in product manufacturing, such as improved production output and product quality, increased production flexibility, lesser space utilization, no labor turnover, low operating costs, enhanced health and safety, reduced production downtime, and better waste management, are driving the adoption of these products, thereby aiding the market growth. According to an article published by Mint in April 2020, the adoption and usage of robotic technology are expected to increase in India across all types of healthcare settings, despite their high prices, owing to the availability of a smaller number of healthcare professionals for more than 1.3 billion population.

In 2020, the traditional robots product segment accounted for the largest revenue share owing to its increasing adoption in material handling, picking and packaging, palletizing, and inspection. Collaborative robots are anticipated to register the fastest growth rate during the forecast period. Many companies are replacing traditional with collaborative robots or cobots, which is a combination of humans and robotics. The adoption of cobots is significantly increasing as they combine repetitive tasks of robots and the individual skills of humans to bring in efficiency in manufacturing processes. These machines are also cheaper and easier to operate and maintain as compared to the traditional ones.

In 2020, the picking and packaging application segment accounted for the largest revenue share and is anticipated to witness the fastest growth during the forecast period. This growth can mainly be attributed to the high demand for personalized packaging and benefits associated with this segment, including high speed, efficient track and trace, and optimum utilization of the floor space. In addition, all the traditional robotic solutions are mainly used for picking and packaging. For instance, 6-axis articulated robots such as VP-6242G and VS-068A2 developed by Denso Wave Incorporated enable picking and packaging.

In 2020, the pharmaceutical companies end-use segment accounted for the largest revenue share and is anticipated to register the fastest growth rate during the forecast period. This is attributed to the increasing usage of robotics in drug discovery and development. In addition, pharmaceutical companies are involved in developing personalized medicine, which further supports the growth of the segment. Research laboratories are anticipated to witness significant growth during the forecast period owing to the ability of these automated solutions to perform repetitive tasks, such as moving test tubes and fluids, during drug discovery-related activities, facilitating a high rate of consistency and accuracy.

In 2020, Asia Pacific dominated the market and is anticipated to register the fastest growth rate during the forecast period. The rise in the demand for the production of drugs and the development of robotic machines for performing tasks with high speed, reduced risk of contamination, accuracy, and optimum utilization of space among pharmaceutical companies is boosting the regional market growth. Moreover, a rise in the number of initiatives undertaken by the government to increase the adoption of industrial robots is further aiding the regional market growth. For instance, in 2016, the Chinese government launched the Robotics Industry Development Plan (2016-2020), aimed at promoting robot applications to a wider range of fields and attracting foreign investment, to develop 100,000 industrial robots produced by domestic technology annually by 2020.

Related Press Release @ Pharmaceutical Robots Market Report

Pharmaceutical Robots Market Report Highlights

The market growth is attributed to various technological advancements and increasing investments in the robotics sector
In terms of product, traditional robots dominated the market in 2020 owing to the availability of different types of traditional products for specific applications
Based on application, the picking and packaging segment dominated the market in 2020 owing to a rise in demand for personalized packaging
By end use, pharmaceutical companies dominated the market in 2020 owing to the rapid rate of drug discovery and high investments by the companies
Asia Pacific dominated the market in 2020 owing to the booming pharmaceutical and industrial robotics market in the region

Thursday, 8 July 2021

Single-cell Analysis Market by Thermo Fisher Scientific, QIAGEN NV, Illumina Inc.

The global Single-cell Analysis Market size is expected to reach USD 6.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.0% from 2021 to 2028. Expeditious technological advancements over the years have enabled a comprehensive analysis of transcriptome and genome in an individual cell.

Single-cell technology helps in assessing cellular heterogeneity and aids in the analysis of pathways and processes at the molecular level. This technology is evolving at a rapid pace with applications in oncology, immunology, and others. Moreover, the introduction of advanced devices that simplify transcriptomic and proteomics procedures is driving the market.

Advances in single-cell RNA sequencing (scRNAseq) allow researchers to thoroughly investigate unexplored rare cell types. The development of the microfluidics method has significantly broadened the implementation of single-cell genomic/transcriptomic analysis in the biomedical field. A substantial number of microfluidic devices have been modified for cell dissociation and tissue digestion.

The increasing number of research publications is representative of the increasing investment flow in R&D in this market. As the R&D activities are the base of innovation, these investments signify a healthy growth possibility for this market. Moreover, researchers are engaged in assessing spatial heterogeneity in gene expression profiles at a single cellular level; thus, are anticipated to boost the uptake of consumables and instruments for the analysis.

Related Press release @ Single-cell Analysis Market Report

Single-cell Analysis Market Report Highlights

The consumables segment accounted for the largest revenue share due to the high adoption and demand of products offered under this segment
Given the wide availability of different forms of reagents, this segment is responsible for constant revenue generation
Owing to the high-end features and the technically advanced analytical options, automated instruments contributed to maximum revenue share
The oncology segment is majorly benefited by the advancements in single-cell analysis methods
To avoid risks associated with cancer therapy, single-cell analysis techniques are being heavily adopted for cancer genomics
There is increasing demand for prenatal diagnosis and non-invasive techniques for the detection of single-gene disorders associated with the fetus
This has increased the adoption of single-cell analysis for prenatal diagnosis
Single-cell analysis is being widely employed by various end-users, ranging from academic research institutes to biotechnology and pharmaceutical companies
Academic and research institutes held a significant share due to wide usage across various studies
North America dominated the 2020 global market owing to the increasing R&D of robust therapies and disease diagnosis
Asia-Pacific is projected to witness the fastest CAGR, with India and China at the forefront
Thermo Fisher Scientific, QIAGEN NV, Illumina Inc., Merck Millipore, BGI, Fluidigm Corporation, and Bio-Rad Laboratories are some prominent entities in this space.
Companies have focused on the development of new innovative products to gain a competitive advantage

Oncology Information Systems Market Size Worth $4.7 Billion By 2028

The global Oncology Information Systems Market size is expected to reach USD 4.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.5% from 2021 to 2028. The increasing prevalence of cancer and rising product development pertaining to cancer research undertaken by key players are driving the market growth. According to estimates published by GLOBOCAN in 2020, 19.3 million new cancer cases were diagnosed and 10.0 million cancer-related mortalities were recorded. The growing cancer burden is expected to boost the demand for advanced oncology therapies with accurate and efficient results, thereby aiding the market growth.

Increasing investment in the field of oncology is one of the key factors expected to boost market growth over the forthcoming years. Market players are collaborating to enhance product development and expand their business footprint. For instance, in 2020 Accuray Inc. collaborated with Brainlab, a German digital surgery company, to expand Accuray’s CyberKnife platform treatment abilities for the neuro-radiosurgery sector. Similarly, in 2020 ViewRay Inc collaborated with VieCure, an AI informatics company, to develop solutions to enhance the adoption of personalized cancer care. These factors are expected to drive the oncology information system (OIS) market growth.

Moreover, key players are focused on developing more advanced OIS with an aim to improve cancer treatment. Companies are either solely or partnering with other key players to accelerate product development. For instance, in April 2019 Accuray Inc launched Synchrony Motion Tracking and Correction technology for its Radixact system. Similarly, in January 2018 Elekta collaborated with IBM Watson Health to develop and improve Elekta’s cancer care systems. In 2020 Varian Medical Systems invested USD 10.0 million in COTA Inc. and entered a strategic collaboration with the company to strengthen its position in the oncology sector. Such initiatives are expected to boost the growth and development of OIS during the forecast period.

Related Press Release@ Oncology Information Systems Market Report

Oncology Information Systems Market Report Highlights

The market is expected to witness significant growth over the forecast period owing to various technological advancements in OIS and the increasing prevalence of cancer
The software segment dominated the market in 2020 owing to the increasing penetration of these software solutions across all healthcare settings including hospitals, ASCs, and cancer research centers and clinics. Additionally, these solutions aid in streamlining the patient management and data management processes
The medical oncology segment dominated the market in 2020 and is expected to register the highest CAGR among the application segment owing to the increasing adoption of chemotherapy, hormonal therapy, and targeted therapy
North America dominated the market in 2020 owing to improved healthcare infrastructure and rising product innovation by key players operating in the region