Healthcare Industry Insights: April 2022

Friday 29 April 2022

Ultrasound Device Market Size Worth $14.5 Billion By 2030

The global Ultrasound Device Market size is expected to reach USD 14.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2022 to 2030. Ultrasound is a very efficient technology that aids in the diagnosis of various disorders such as tumors as well as the detection of changes in the appearance of organs, tissues, and arteries. It also has a range of therapeutic applications. An increase in the adoption of ultrasound devices for diagnosis and treatment is driving the market. In addition, a rise in the adoption of minimally invasive surgeries, coupled with technological advancements is expected to boost the market growth.

Emerging innovations in ultrasound technology are expanding the market size. Hand-held ultrasound devices have made the technology more accessible for use in limited-resource communities around the world. Furthermore, the introduction of 3D/4D ultrasound and the integration of artificial intelligence (Al) to automate time-consuming processes are expected to propel the market growth during the forecast period. For instance, in September 2020, GE Healthcare launched Voluson SWIFT, a new ultrasound technology, which is designed to help women’s health by allowing clinicians to enhance patient outcomes by expanding diagnostic capabilities. The system includes industry-first AI algorithms for auto-recognition and has excellent image quality.

The rising prevalence of chronic diseases like cancer, neurological conditions, orthopedic conditions, and cardiovascular diseases, significantly increases the demand for the adoption of ultrasound devices for diagnosis, thus expanding the market during the forecast period. In addition, the market for therapeutic ultrasound equipment is predicted to grow due to the rising use of ultrasound techniques for various therapeutic procedures using High-Intensity Focused Ultrasound (HIFU) technology and Extracorporeal Shockwave Lithotripsy (ESWL). The market's prominent competitors are taking different initiatives such as funding and acquisitions of medium and small-sized businesses in order to expand their product portfolio and enhance their manufacturing capacity. For instance, in September 2021, GE Healthcare acquired BK Medical, a leader in advanced surgical visualization.

Related Press Release@ Ultrasound Device Market Report

Ultrasound Device Market Report Highlights

By product, the diagnostic ultrasound devices segment accounted for the largest revenue share in 2021 owing to the rising demand for improved diagnostic devices such as miniaturized 2D and 3D/4D
The therapeutic ultrasound devices product segment is expected to grow at a significant rate during the forecast period
Based on portability, the cart/trolley-based devices segment accounted for the largest revenue share in 2021
In terms of application, the general imaging segment held the largest revenue share in 2021
The hospitals end-use segment held the largest revenue share in 2021 and is further expected to maintain its lead over the forecast period. This is owing to the extensive use of ultrasound devices in hospital settings and an increase in the number of patients visiting hospitals with various lifestyle-related disorders
North America accounted for the largest revenue share in 2021. Asia Pacific is anticipated to expand at the fastest CAGR over the forecast period owing to the increased demand for better imaging devices

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Tuesday 26 April 2022

Europe Orthopedic Navigation Systems Market is Predicted to Witness 13.9% CAGR till 2030

The Europe Orthopedic Navigation Systems Market size is expected to reach USD 2.05 billion by 2030, according to a new report published by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.9% from 2022 to 2030. The rising number of target diseases especially in the geriatric population is responsible for the rapid growth of the market. According to the Executive Agency for Health and Consumers, one in ten people in the geriatric population in Europe is suffering from osteoarthritis.

Minimal invasion and low post-operative complications associated with computer-assisted surgery are anticipated to drive regional market growth over the forecast period. Moreover, the introduction of technologically advanced products is expected to induce demand for orthopedic navigation systems. For instance, Orthokey Italia developed a new version of KiRA system integrating it with the iPad to aid in the study of the kinematics of a patient’s knee joint. Moreover, favorable reimbursement policies associated with orthopedic navigation systems are anticipated to further propel the demand over the forecast period.

During the outbreak of COVID-19, non-emergency procedures were canceled, which adversely impacted the market, as restrictions resulted in delays for a number of procedures. Approximately 10 million individuals in the U.K. are waiting for surgical procedures, increasing from 4 million before the pandemic. Currently, most nations have elevated restrictions on elective surgery. As a result of the recommencement of surgical procedures at full force, the market is anticipated to gather pace in the forthcoming years.

Related Press Release@ Europe Orthopedic Navigation Systems Market Report

Europe Orthopedic Navigation Systems Market Report Highlights

Knee surgeries dominated the European market as of 2021, accounting for over 47.0% of the total revenue, owing to the rising number of partial & total knee replacement surgeries
Hip surgery is anticipated to register a steady CAGR over the forecast period, owing to the rising number of hip replacement surgeries. According to the OECD, hip replacements in the U.K. are more recurrent and more than 177 per 100,000 populations undergo hip replacement surgeries each year
Germany dominated the overall Europe market in terms of revenue in 2014 with a revenue share of 17.6%. The presence of sophisticated healthcare infrastructure coupled with high healthcare expenditures, and a higher volume of joint reconstruction procedures in this region are some factors attributing to the aforementioned conclusion
The U.K. is pegged to witness lucrative growth during the forecast period, owing to the rising prevalence of diseases such as osteoarthritis and increasing usage of computer-aided navigation systems in knee & hip replacement surgeries. Moreover, high awareness levels, R&D funding, and the presence of skilled orthopedic surgeons are likely to fuel future demand
Some prominent market participants include Stryker Navigation, B Braun Melsungen AG, Brain Lab, Zimmer Biomet, Microport Medical, Amplitude, De Puy, Medtronic, Orthokey Italia
Market share capitalization via new product development is the most effective sustainability strategy adopted by these players

Friday 22 April 2022

Super Absorbent Dressings Market by 3M, Coloplast Corp., Hartmann USA, Inc., Molnlycke Health Care AB

The global Super Absorbent Dressings Market size is expected to reach USD 144.21 million by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.69% from 2022 to 2030. An increase in the number of diabetic foot ulcer patients and a rise in surgical procedures worldwide are some major factors driving the market. For instance, as per the England National Health Service, 4.5 million people in the U.K. suffer from diabetes, out of which 10% of people are susceptible to developing diabetic foot ulcers at any given time. Similarly, according to Diabetes Australia, every year, 10,000 hospital admissions in Australia are related to diabetic foot ulcers. Thus, with the increasing number of diabetic foot ulcers, the market is anticipated to witness growth during the forecast period.

Moreover, there has been an increase in the number of traumatic incidents such as road accidents globally. For instance, as per the Department of Infrastructure, Transport, Regional Development & Communications, Australia, the road crash injury data in 2018 has increased by 11.8% in the preceding five years. Similarly, according to the Government of the U.K., there were 115,584 casualties due to road accidents in the U.K. Therefore, the increase in traumatic accidents may help the market grow during the forecast period.

Additionally, the introduction of the COVID-19 vaccine is expected to assist the market growth over the forecast period. The introduction of the vaccine is expected to increase the number of elective surgeries, which were postponed earlier. The increase in the number of surgical procedures is expected to increase the use of super absorbent dressings, thereby driving the market during the forecast period.

Related Press Release@ Super Absorbent Dressings Market Report

Super Absorbent Dressings Market Report Highlights

Based on product, the non-adherent segment dominated the market with a share of over 70.0% in 2021 owing to an increase in the number of diabetic foot ulcers and pressure ulcer patients globally
Based on application, the chronic wounds segment is likely to register the fastest CAGR of 4.81% over the forecast period owing to an increase in the number of chronic wounds globally
On the basis of end-use, the hospitals segment dominated the market with a share of over 45.0% owing to the increasing number of surgeries among the patients in hospitals. The home healthcare segment is anticipated to register the fastest CAGR of 5.37% during the forecast period
North America dominated the market with a revenue share of over 45.0% in 2021 owing to the increasing number of surgical procedures and the availability of a large patient pool in the region

Insulin Delivery Devices Market Size Worth $27.7 Billion By 2030

The global Insulin Delivery Devices Market size is expected to reach USD 27.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2022 to 2030. Obesity, sedentary lifestyles, and unhealthy food habits, primarily in the young population, lead to the occurrence of diabetes. In addition, the growing diabetic geriatric population is another factor supporting the growth of this vertical. According to the United Nations, Department of Economic and Social Affairs, around 901 million individuals were aged 60 or over in 2015 and this number is projected to increase to 1.4 billion by 2030. Thus, the enlarging elderly population is expected to boost the demand for insulin delivery devices.

Technological innovations and advancements are an ongoing trend in this vertical. The high demand for advanced insulin delivery devices is supporting the adoption of recently launched innovative pen devices and portable pumps, which is estimated to boost the market growth. Also, favorable reimbursement policies for these devices, mainly in developed countries like the U.S. and Germany, are anticipated to fuel the market growth during the study period. However, stringent regulatory requirements regulating the approval of insulin delivery devices and the high cost of insulin analogs in diabetes care management are major factors restraining the growth of this industry.

The market's prominent competitors are taking different initiatives such as acquisition, funding, and product development to expand their product portfolio and enhance their manufacturing capacity. For instance, in October 2021, Eli Lilly partnered with Cipla, to market its Insulin products (Humalog and Trulicity) in India. Additionally, In June 2021, the company acquired Protomer Technologies, to strengthen its market presence. Further, Novo Nordisk, joined hands with Biocorp to develop a Bluetooth-enabled smart add-on device for their pen insulin injector.

Related Press Release@ Insulin Delivery Devices Market Report

Insulin Delivery Devices Market Report Highlights

The insulin pens segment was the largest revenue-generating category of this market in 2021. The pen is equipped with self-contained cartridges and offers ease in handling and less pain while injecting insulin. The advantages of these pen devices over other products are resulting in their growing popularity, thus serving as a vital factor in contributing to the sector’s highest share in this market
The home care segment is estimated to be the fastest-growing segment due to increased adoption of self-care diabetes management devices and the availability of simplified and user-friendly product designs for patients
North America is the leading regional sector and accounted for the largest revenue share in 2021 primarily due to the favorable reimbursement scenario in this space. Also, the presence of major manufacturers in this region is supporting market growth
In Asia Pacific, the market is anticipated to grow fast during the forecast period. The high prevalence rate of diabetes in countries, such as China and India, is a major factor contributing to market expansion in this region

Thursday 21 April 2022

Intracranial Pressure Monitoring Devices Market: Future Trends, Revenue Growth & Leading Players, Forecast To 2030

The global Intracranial Pressure Monitoring Devices Market size is anticipated to reach USD 2.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.9% from 2022 to 2030. The primary driving factors for market growth are increasing adoption of minimally invasive surgeries, high demand in trauma care, and technological advancements. The COVID-19 pandemic is expected to have a short-term and moderate impact on the market. According to a research study “COVID-19 and stroke: A review” published in Elsevier journal (International Hemorrhagic Stroke Association) (Jan 2021), up to 36% of hospitalized COVID-19 patients might exhibit neurological symptoms and there were several cases related to ischemic and hemorrhagic infarction.

In addition, according to this study, 606 adults affected with COVID-19 were detected with brain or other nerve-related medical problems at some stage during their illness. Thus, these factors are expected to create lucrative opportunities for the market to grow in the near future. Over the forecast period, technological advancements are expected to be a crucial driver in the growth of the market. For example, in April 2019, at the American Association of Neurological Surgeons 2019 in California, Integra LifeSciences Corporation unveiled its newest Codman Specialty surgical solutions. Certas Plus Portfolio Expansion, CereLink Intracranial Pressure (ICP) Monitoring System, Integra Duo LED Surgical Headlight, and CUSA Clarity Tough Tissue Technology were the products on display.

Related Press Release@ Intracranial Pressure Monitoring Devices Market Report

Intracranial Pressure Monitoring Devices Market Report Highlights

By technique, the invasive segment held the largest share of 80.9% in 2021. High accuracy of devices and technological advancements are expected to drive segment growth
Based on the application, the traumatic brain injury segment held the largest revenue share of 31.6% in 2021. The growing occurrence of TBIs around the world, which has resulted in a high need for care of these cases, necessitates the extensive use of ICP monitoring devices; this is a primary factor responsible for the substantial proportion of this market segment
In Asia Pacific, the market for intracranial pressure monitoring devices is expected to witness a CAGR of 7.7% over the forecast period. Various factors are responsible for the region's growth, such as the increasing geriatric population, growing healthcare infrastructure development, as well as the presence of such a huge patient base in this region

Tuesday 19 April 2022

eHealth Market Size Worth $878.6 Billion By 2030 | CAGR 17.4%

The global eHealth Market size is expected to reach USD 878.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.4% from 2022 to 2030. The transition of the healthcare industry into a digital healthcare system for management and analysis of patient health is expected to be the most vital driver of the market growth. The increasing prevalence of chronic diseases and technological advancements in this field are some of the other driving factors. The rising use of mobile technologies and the internet along with the increasing adoption of home care by patients is expected to propel the market growth during the forecast period.

Furthermore, expanding the scope of IT companies in the development of real-time applications and software catering to the healthcare industry is expected to drive demand during the forecast period. Federal agencies such as the European Coordination Committee of the Radiological, Electromedical and Healthcare IT Industry (COCIR), to encourage and popularise eHealth, formulated various policies.

The American Health Information Community (AHIC) was chartered in the U.S. to make recommendations leading to the development of eHealth to the Secretary of the U.S. Health Department. Based on these recommendations, efforts are being made to increase awareness levels for currently available mobile applications and wearable remote monitoring devices. The eHealth market products and services are encouraging higher demand for round-the-clock care service, wider and faster access to patient information, reduction of administrative and medical errors, self-monitoring and management by patients, and centralization of the entire healthcare industry chain.

In addition, e-health providers have taken on the duty of giving a global overview of the COVID-19 e-health solutions. On the internet, solution suppliers, consultants advising the healthcare system, and healthcare professionals have been urged to submit COVID-19 solutions. The increase in IoT and technological breakthroughs increased desire for mobile technology and the internet, and rising demand for population health management are all factors contributing to the e-health market growth.

Related Press Release@ eHealth Market Report

eHealth Market Report Highlights

The diagnostics segment is expected to witness the fastest CAGR of above 15.0% over the next seven years, owing to the increasing number of patients with at least one chronic condition and the rising prevalence of infectious diseases
According to the CDC, more than 50% population of the U.S.-accounting for about 117 million people-suffers from at least one chronic condition requiring routine monitoring
mHealth is expected to be the largest and the fastest-growing segment. Favorable government initiatives and increasing collaboration of several healthcare institutions with manufacturers are driving the growth of this segment. For instance, American Telemedicine Association (ATA) collaborated with Philips for increasing the implementation and adoption of telehealth services during the COVID-19 pandemic in 2020
North America is expected to dominate the market throughout the forecast period. The presence of a tech-savvy population base and various current initiatives by the American Health Information Community (AHIC) is expected to be the drivers of this growth GE Healthcare and Microsoft expanded their long-standing partnership in April 2020 to introduce a cloud-based COVID-19 patient monitoring software for health systems, which will further boost the e-health sector growth

Surgical Navigation Systems Market: Key Companies & Market Share Insights

The global Surgical Navigation Systems Market size is expected to reach USD 23.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.2% from 2022 to 2030. The growing geriatric population along with the rising prevalence of brain cancer, orthopedic degenerative, and ENT among other target disorders and diseases is expected to propel the demand for surgical navigation systems (SNSs). Aging is considered the greatest risk factor for the development of degenerative disorders of joints; such as osteoporosis. The rising geriatric population is expected to serve as a high-impact rendering driver for the market.

Osteoarthritis and osteoporosis are the most common disorders in the population aged over 65 years. The growing prevalence of these disorders possesses an increasing economic burden on many countries. As per International Osteoporosis Foundation, the total number of hip fractures is expected to reach 5,395 million by 2050. Facing the outbreak of COVID-19, elective procedures have significantly impacted the surgical navigation system market. As restrictions resulted in delays to a number of procedures. Currently, most nations have elevated restrictions on elective surgery. As a result, hospital spearheads across the world have been rushing to implement ramp-up strategies.

In addition to tackling the increasing patient backlog, the inspiration to restart elective surgery comprises mitigating revenue shock from the reduced surgical volume, a considerable contributor to the margin of hospitals. Demand for better patient outcomes will drive the acceptance of innovative technologies in navigation-assisted surgeries and provisions market growth. For instance, in March 2021, 7D Surgical has launched the FLASH navigation system in Switzerland and Germany. Besides, the demand for minimally invasive procedures is increasing across the world.

Surgical navigation systems are instrumental in providing better accuracy and precision in diagnosis and determining the correct implementation of plans during surgery, thereby aiding in minimally invasive procedures with improved patient outcomes. They offer visual imaging at every stage of the surgery thereby allowing modification of the plan during the surgical procedure according to intraoperative findings. It is also cost-effective in joint replacement procedures as very few patients require revision after a one-time procedure. These associated advantages are expected to boost the product demand over the forecast period.

Related Press Release@ Surgical Navigation Systems Market Report

Surgical Navigation Systems Market Report Highlights

The neurology segment held the largest revenue share of 37.0% in 2021, owing to the early implementation of surgical navigation in this branch and the advantages associated with SNSs that aid the surgeons to perform complex surgeries with increased accuracy

The ENT segment is expected to expand at a lucrative CAGR of 15.3% over the forecast period, owing to the rising prevalence of ENT disorders along with the increasing adoption of ENT surgeries

Based on technology, the electromagnetic SNSs segment held the largest revenue share in 2021, owing to the low cost and ease of use of the technology. Besides, the rise in the prevalence of diseases among the geriatric population and increasing technological advancements in devices further drive segment growth

The hospitals segment was the largest revenue-generating segment of the market in 2021. Hospitals are an integral part of the healthcare industry and corporations make significant efforts, both in terms of revenue & marketing strategies, to endorse their product/services in hospitals

Key players in the market are engaged in various strategies such as new product developments for better market penetration. For instance, in June 2021, DePuy Synthes in Australia has entered an exclusive contract with Navbit start-up to launch the Navbit Sprint into operating theatres across the nation. This is a new navigation system utilizing smart sensor technology to support physicians in positioning the acetabular cup thereby, strengthening their product portfolio

Monday 18 April 2022

Fixed And Mobile C-arms Market Size Worth $3.97 Billion By 2030

The global Fixed And Mobile C-Arms Market size is expected to reach USD 3.97 billion by 2030, registering a CAGR of 5.6%, according to a new report by Grand View Research, Inc. Constant technological advancements in C-arm technology and the growing number of surgical procedures are the primary factors driving the growth of the market. In addition, an increase in the number of the geriatric population prone to various chronic disorders is expected to further boost the market growth.

C-arm technology has progressed rapidly with the introduction of mobile and mini C-arms. Its mobility and image quality allow surgeons to track surgery progress at any moment and identify areas for improvement instantly. As a result, treatment outcomes are better, eventually leading to faster patient recovery, further reducing follow-up operations. Furthermore, the introduction of Flat Panel Detectors (FPD) in C-arms has helped in reducing the radiation dose.

The rising prevalence and awareness of chronic diseases like neurological conditions, orthopedics, and cardiovascular diseases, which may require surgical interventions are expected to fuel the growth of the market during the forecast period. Furthermore, a rise in the geriatric population that is more prone to chronic disorders, a growing preference for minimally invasive surgical procedures, and increasing patient awareness are also expected to boost the growth.

Leading manufacturers in the market are implementing various strategies such as acquisition, funding, and product development to expand their product portfolio and manufacturing capacity. For instance, in April 2021, Carestream Health, in collaboration with Ziehm Imaging, announced the addition of a mobile C-arm to its increasing innovative product line. The Ziehm Vision RFD C-arm is expected to expand Carestream's mobile and fluoroscopic product offerings to benefit even more healthcare providers.

Related Press Release@ Fixed And Mobile C-arms Market Report

Fixed And Mobile C-arms Market Report Highlights

Based on product, the fixed C-arm segment held the largest revenue share in 2021
The mobile C-arm segment is expected to register a lucrative CAGR during the forecast period. It is sub-segmented into full size and mini C-arms
Based on application, the orthopedics and trauma segment held the largest revenue share in 2021
Neurosurgery and cardiovascular segment are expected to register the fastest CAGR during the forecast period, owing to increased cases of these surgery types
North America dominated the market and accounted for the largest revenue share in 2021
Asia Pacific is anticipated to register the fastest CAGR over the forecast period owing to the increased demand for better imaging devices

Tuesday 12 April 2022

Anatomic Pathology Market by Danaher Corporation, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Sakura Finetek USA, Inc.

The global Anatomic Pathology Market size is expected to reach USD 34.66 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.08% from 2021 to 2028. The advent of technology in the instruments and the protocols used during the anatomic pathological procedures is anticipated to increase the adoption rate of advanced anatomic pathological instruments.

Market players are collaborating for the refurbishment of pathology products by the incorporation of innovative disease diagnostic models. In April 2021, Leica Biosystems collaborated with Paige, an AI-based diagnostics company, for expanded access to computational pathology products for translational and clinical research. Under this partnership, Paige’s AI-enabled research software and Leica Biosystems’ digital pathology platform were combined. This, in turn, accelerates investments in the up-gradation of pathological equipment.

Pathology-training programs offered to pathologist trainees by public and private entities drive the market. For instance, the Accreditation Council for Graduate Medical Education accredited residency programs for anatomic pathology provide education and training to individuals via numerous teaching conferences.

The drug discovery and development application segment are expected to witness the fastest growth over the forecast period due to the shifting paradigm from conventional medicine to personalized medicine. This is primarily due to the growing reliance on discoveries of putative biomarkers for the development of personalized therapies. Ongoing pathology training programs to ensure that the pathology residents are aware of the developments taking place in the field of personalized medicine have also accelerated the market growth.

North America held the largest revenue share in 2020 owing to a large number of funding programs by public agencies and the presence of key players. Asia Pacific is expected to witness the fastest growth due to the presence of multiple associations that are engaged in conducting pathology training programs.

Key players are undertaking various strategic initiatives such as mergers & acquisitions and new product development to maintain their market presence. For instance, in May 2021, CellCarta acquired Reveal Biosciences, an AI-based pathology firm. This acquisition is aimed at expanding CellCarta’s offerings in AI-enabled multi-omic data analysis services and applications.

Related Press Release@ Anatomic Pathology Market Report

Anatomic Pathology Market Report Highlights

By product and services, the consumables segment accounted for the largest share in 2020. High availability, low cost, and a frequent purchase rate of consumables contributed to the segment growth
The instruments product and services segment is expected to witness the fastest growth over the forecast period. Technological advancements in instruments to minimize the risk of errors through the integration of novel design are expected to drive the segment
The disease diagnosis application segment dominated the market in 2020 owing to the increasing role of anatomic pathological tools in identifying any anomalies that help diagnose a condition. The use of biomarkers for tracking and identifying infections and diseases during diagnostic processes is expected to boost the growth of the segment
In terms of end use, the hospitals segment captured the largest share in 2020 due to an increase in the hospitalization rate that stimulates the adoption of pathological workflows for disease monitoring and diagnosis
The diagnostic laboratories end-use segment growth is facilitated by the use of state-of-the-art laboratory equipment and instrumentation, multiple electronic interfaces, and information systems

Liver Cancer Diagnostics Market Worth $17.4 Billion By 2028

The global Liver Cancer Diagnostics Market size is expected to reach USD 17.4 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. Abbott Laboratories, F. Hoffmann-La Roche Ltd., Qiagen N.V., Thermo Fisher Scientific, Inc., Siemens Healthineers, Becton Dickinson & Company, Illumina, Inc. are some of the key players in this industry. The rising prevalence of liver cancer and the introduction of innovative diagnosis products are propelling the market growth.

According to the data published by Globocan, liver cancer was the 6th most common type of cancer and, in 2020, around 905,677 new cases of this life-threatening disease were diagnosed, globally, which lead to around 830,180 deaths. The most common cause of liver cancer is chronic (long-term) infection with Hepatitis C Virus (HCV) or Hepatitis B Virus (HBV). As per the WHO’s estimates, globally, around 71.0 million people have chronic HCV infection. As per the same source, in 2016, around 399,000 people died from cirrhosis and primary liver cancer related to HCV infection. Such a high prevalence and mortality rate of the disease has significantly upsurged the demand for innovative diagnostic solutions for its timely diagnosis, thus, supporting market growth.

Furthermore, continuous technological advancements in the field of oncology diagnostics and increased access to more efficient diagnosis tools are anticipated to support the market growth throughout the forecast period. In September 2020, Genetron Holdings Limited, a China-based oncology diagnostics company, received the FDA’s Breakthrough Device designation for HCCscreen, a blood-based next-generation sequencing (NGS) test. This newly launched test is designed for early detection of hepatocellular carcinoma (HCC) in patients who are suspected to be at high risk for HCC due to liver cirrhosis and/or chronic HBV infection.

Moreover, continuous public-private initiatives in several countries to increase screening for early diagnosis of various cancers, including liver cancer, are expected to create a conducive environment for market growth. In 2019, Saudi Arabia’s Ministry of Health announced to undertake several initiatives including, advancements of screening programs, improving awareness about cancers, and establishing new oncology centers across the region. In 2019, Cleveland Clinic Abu Dhabi announced to introduce an enhanced range of liver cancer services in the country to address the growing demand.

Related Press Release@ Liver Cancer Diagnostics Market Report

Liver Cancer Diagnostics Market Report Highlights

By test type, the laboratory tests segment emerged as the largest segment in 2020 owing to its increased demand for effective diagnosis of hepatocellular carcinoma
Based on end use, the hospitals and diagnostic laboratories segment accounted for the leading revenue share during the forecast period, as they are the primary centers for the diagnosis and treatment of all chronic diseases
North America dominated the market and accounted for the largest revenue share in 2020. The improved awareness about hepatocellular carcinoma and high adoption of novel technologies are facilitating the dominance of this region during the forecast period
In Asia Pacific, the market is estimated to show the fastest growth during the study period. This high growth can be attributed to the presence of a huge target population and developing healthcare infrastructure in emerging countries

U.S. Biopharmaceutical 3PL Market by FedEx., DHL International GmbH, SF Express, United Parcel Service of America, Inc.

The U.S. Biopharmaceutical Third Party Logistics Market size is expected to reach USD 62.3 billion by 2028, at a CAGR 7.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for novel biologics and the need to manage those is boosting the market growth. Moreover, the rising demand for temperature-controlled logistic services to transport biologics in various regions and the growing distribution networks of biopharmaceutical companies to improve their sales are factors driving the market growth.

The COVID-19 pandemic has had a major impact on global logistics to some extent due to diminished air freight capacity and reduced workforce at warehouses and airports. The decisions of local authorities to shut down the logistic infrastructure, enforce movement restriction, or put in place additional requirements to suppress transmission of the virus have also impacted the logistic services. This has significantly hindered many supply operations.

The future seems lucrative for the market with the retraction of government regulations related to transportation and shelter-in-place mandates. A sudden surge in the demand for cold chain logistics was observed during the pandemic. Growth in the manufacture and distribution of the COVID-19 vaccine is expected throughout 2021. For instance, in March 2021, FedEx Express started shipping the COVID19 vaccine for McKesson Corp. to centers all across the U.S. The company has already shipped millions of COVID-19 vaccines since mid-December 2020.

Related Press Release@ U.S. Biopharmaceutical Third Party Logistics Market Report

U.S. Biopharmaceutical 3PL Market Report Highlights

The non-cold chain logistics held the largest market share of 80.8% in 2020 owing to the sales of a large number of drugs that do not require any temperature control
The cold chain logistics segment is projected to witness the fastest of CAGR 10.1% over the forecast period owing to the demand for biologics, such as cellular therapies, vaccines, and test kits
The increasing demand for the COVID-19 vaccine is a major contributing factor to the market growth. Furthermore, the rising trend of outsourcing logistics services is fueling the growth
The warehousing & storage segment held the largest revenue share of 43.6% in 2020 due to the growing demand for storage
The specialty drugs segment dominated the market in 2020 owing to the rapid growth in specialty pharma

Monday 11 April 2022

Indian Clinical Trials Market Size Worth $3.88 Billion By 2030

The Indian Clinical Trials Market size is expected to reach USD 3.88 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.2% from 2022 to 2030. The globalization of clinical trials, growing disease variation and prevalence in the country, adoption of new technology in clinical research, and increasing R&D promoting outsourcing are the key factors driving the market.

India is populated with 1.3 billion individuals with varying genetic backgrounds and a large treatment-naïve patient pool for the development of therapeutics on a range of disease conditions. Furthermore, the economic, environmental, and ecological variations in the 28 states and 8 union territories present the most diverse disease profile. Apart from this, the cost of carrying out clinical trials in India is nearly 40-70% less when compared to that in Europe or the U.S. Thus, the cost efficiency, along with skill sets and ease of doing business, is anticipated to fuel the market growth.

The increasing R&D investments by pharmaceutical and biopharmaceutical companies have led to increased demand for contract research organizations and outsourcing of trials in order to curb the cost. Furthermore, outsourcing enables the drug companies to focus on their core competencies and aids in improving their productivity, thus facilitating the outsourcing of trials in India. The COVID-19 pandemic has improved the market in the country. Several companies globally are conducting clinical trials for COVID-19 vaccines in India. Moreover, government initiatives promoting clinical trials for COVID-19 therapeutics in the country have promoted market growth.

Related Press Release@ Indian Clinical Trials Market Report

Indian Clinical Trials Market Report Highlights

By phase, the phase I segment is projected to register the fastest growth rate of 9.9% over the forecast period. This can be attributed to the increasing R&D spending by pharmaceutical and biopharmaceutical companies
The interventional trials study design segment held the largest revenue share of over 40.0% in 2021 owing to the greater accuracy offered by them as compared to observational study design
The oncology indication segment held the largest revenue share of over 20.0% in 2021 due to the increasing prevalence of the disease condition and the consequent rise in demand for innovative therapies for cancer