Friday 30 September 2022

Medical Device Analytical Testing Outsourcing Market by SGS, Toxikon, Inc.; Eurofins Scientific; Pace Analytical Services LLC; Intertek Group plc

The global Medical Device Analytical Testing Outsourcing Market size is expected to reach USD 10.6 billion by 2030, registering a CAGR of 8.1% over the forecast period, according to a new report by Grand View Research, Inc. Several medical device companies outsource analytical testing operations to decrease business risks, accelerate product market entrance, and lower expenses. As a result of this considerable rise in spending levels, medical device Original Equipment Manufacturers (OEMs) quickly shift to outsourcing as a cost-cutting technique. Medical device testing remained consistent in 2021. The testing requirements of Medical Device Manufacturers (MDMs) reflected variations in the medical/healthcare market as it recovered from the COVID-19 slowdown.

In 2021, the need for European Medical Device Regulation (MDR) remediation standards, as well as the ever-increasing regulatory demands in the Leachables & extractables (E&L) arena, accounted for a significant portion of the testing effort. However, due to delays and a lack of external resources and labor, labs’ ability to expand capacity has been limited. Regulatory authorities are focusing on testing technique validation, especially data quality, including repeatability and reproducibility. There is also a trend toward more deterministic testing methods. This enables companies to acquire more statistically reliable data to determine if their products meet the criteria. For example, the medical device sector and testing labs confront considerable hurdles in adopting ISO 10993-18:2020 E&L testing regulations while still meeting FDA expectations. The FDA had requested the use of conservative techniques to reduce areas of ambiguity or potential inaccuracy in E&L testing throughout 2021.

Medical Device Analytical Testing Outsourcing Market Report Highlights

The material characterization services segment accounted for the largest share of the global revenue in 2021
The cardiology therapeutic area segment held the largest revenue share in 2021 due to the high demand for cardiovascular devices as a result of the increased prevalence of related conditions
Reprocessed devices are projected to witness the fastest CAGR during the forecast period due to the low prices of these devices. They cost about 30 to 40% less than new devices; thus, the demand for such products is significant in price-sensitive low- and medium-income countries
Based on end-use, the hospital segment accounted for the largest revenue share in 2021 due to high patient volume and increased hospital management budget allocation for these surgeries
Asia Pacific led the global market in 2021 and is projected to witness the fastest CAGR during the forecast period. This is owing to the region’s large population base, low per capita income, and demand for accessible treatment solutions

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

U.S. Virtual Care Market Size Worth $46.3 Billion By 2030

The U.S. Virtual Care Market size is expected to reach USD 46.3 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 30.75% from 2022 to 2030. Virtual care is an umbrella term encompassing all remote patient interactions with healthcare providers. High waiting times for physician appointments and the shift toward convenient and patient-focused care are boosting the market growth. In recent years, the inclination toward digital platforms from conventional care settings is increasing, which is propelling the market growth.

Rising healthcare expenses, advancements in telecommunication technologies, and the prevalence of chronic diseases are the primary factors driving the growth of the market. The cost of healthcare in the United States is gradually increasing. According to the National Health Expenditure Projections 2018-2027, national health spending in the United States is predicted to increase by an average of 5.5% per year between 2018 and 2027, reaching over USD 6.0 trillion by 2027.

Virtual care solutions have been shown to improve health outcomes and cut expenses. Compared to traditional approaches, it saves money for patients, providers, and payers. Virtual care has decreased the cost of healthcare while increasing its efficiency through better management of chronic diseases, shorter travel times, shared staffing of health professionals, and fewer and shorter hospital stays. The aforementioned factors are expected to fuel the growth of the market.

The adoption of telemedicine and online consultations has enhanced care management, elevated patients’ quality of life, and decreased healthcare expenditure. During the COVID-19 outbreak, the U.S. healthcare system witnessed favorable trends due to the emergence of telemedicine encouraging people’s participation in personal health management. Smartphones and mobile technologies enable the use of clinical and lifestyle applications to support, educate, and modify healthy behavior.

Moreover, the industry is witnessing an increase in the number of investments, mergers & acquisitions, and entry of new and large-scale companies. This is anticipated to intensify the competition over the next several years. For example, in March 2021, Amazon.com, Inc. expanded access to its virtual visits and healthcare platform, Amazon Care, to Washington-based businesses. Earlier, Amazon Care was exclusively offered to the company's workers and their families in the state of Washington. In addition, the company intends to expand its virtual care product and services to its employees and other businesses in all 50 U.S. states.

The COVID-19 pandemic boosted the demand for telemedicine services and online consultations. Key market players reported high growth in the number of users and revenue. For instance, the overall revenue of Teladoc Health Inc. increased 97.7% in 2020 when compared to 2019. The number of visits increased by 156% to nearly 10.6 million in 2020. Similarly, American Well Corporation witness a growth of 83.4% in revenue in 2020. Easy access to physicians through online platforms, travel restrictions, and measures to decrease the patient volume in hospitals positively impacted the market.

Related Press Release@ U.S. Virtual Care Market Report

U.S. Virtual Care Market Report Highlights

Based on consultation mode, the audio segment dominated the market in 2021. In the U.S., 50% of the 85.5 million virtual interactions covered by the Kaiser Permanente System health plan were conducted via phone. Greater preference for audio consultations is propelling the market growth
The video consultations segment is estimated to grow at a significant pace during the forecast period. High penetration of smartphones and an increasing number of service providers are likely to drive the segment growth
In terms of application, the family medicine segment accounted for the largest market share in 2021. The others segment is anticipated to witness the highest CAGR during the forecast period. The sudden increase in demand for mental health services and the high prevalence of depression as a result of COVID-19 are projected to drive the growth
Government-initiated healthcare programs in the U.S. are anticipated to propel the adoption of virtual care solutions by patients and providers in the coming years

U.S. Office-based Labs Market Size Worth $18.3 Billion By 2030

The U.S. Office-Based Labs Market size is expected to reach USD 18.3 billion by 2030 expanding at a CAGR of 7.46% over the forecast period, according to a new report by Grand View Research, Inc. The increasing prevalence of vascular diseases and rising preference for minimally invasive procedures in outpatient settings are the major factors driving the demand for office-based labs (OBL) in the U.S. High prevalence of risk factors, such as smoking, high blood pressure, diabetes, and high cholesterol, along with the growing geriatric population, is expected to increase the incidence of Peripheral Artery Diseases (PADs).

The resultant surge in the number of procedures performed for their treatment is anticipated to fuel the market growth during the forecast period. The rapidly transitioning healthcare delivery scenario is driving key market players to transform their business models to achieve maximum benefit from ongoing transitions. A key driving factor supporting the changing preferences of consumers is the cost-effectiveness of OBL. Some of the key reasons to visit office-based labs are preventive care, underlying chronic condition, pre/post-surgery care, and injuries/trauma. In addition, high patient satisfaction with a focused and dedicated team of doctors is expected to boost the market in the U.S.

During the COVID-19 pandemic, private practices, such as OBLs, postponed elective procedures, which included elective angioplasty or elective rotational atherectomy during transcatheter aortic valve implantation, or any other elective vascular operations performed under general or peripheral anesthesia. According to the findings published by The Commonwealth Fund, in August 2020, the total number of ambulatory practices witnessed a decline of 60% and recorded a significant decline in provider office visits. Many OBLs in the U.S. have reported a sharp decline in their businesses, however, some of them are offering testing facilities and post-respiratory therapy.

Related Press Release@ U.S. Office-based Labs Market Report

U.S. Office-based Labs Market Report Highlights

By modality, the single-specialty OBL segment dominated the market in 2021, and hybrid office-based labs are expected to record the fastest CAGR during the forecast period
The adoption of digital health solutions, such as integrated care Electronic Health Records (EHRs) customized as per the care provider requirements is boosting the growth of multi-specialty labs
In terms of services, vascular procedures are the most commonly performed procedures in OBL settings. Among vascular procedures, Peripheral Vascular Interventions (PVI) are the most common services being offered to patients
In the specialist category, vascular surgeons are the leading service providers in OBL. All major vascular surgeries, such as aortic, mesenteric, renal, subclavian, iliofemoral, tibial, and pedal, are being performed by vascular surgeons in office settings
In the U.S. almost 70% of surgical procedures are performed in outpatient settings, out of which, around 25% are performed in a physician’s office
Mergers & and acquisitions, technological advancements, and new product launches are some of the strategies followed by major players. For Instance, in May 2021, Surgery Partners entered into a strategic partnership with UCI Health to develop & expand access to outpatient surgical facilities and enhance patient outcome

Protein Labeling Market – Industry Insights by End-use, 2030

The global Protein Labeling Market size is expected to reach USD 4.11 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.6% from 2022 to 2030. The study of Post-translational Modification (PTM) of proteins has gained immense popularity in cell biology and disease treatment and prevention. The introduction of effective quantification methods of protein expression with the use of tagging strategies, such as iodoTMTzero Label Reagent that detects nitrosylation, has driven an efficient determination of PTMs. Therefore, a rise in PTM-related studies is driving the market. The emergence of novel techniques and the launch of improved products are expected to positively influence market growth.

One such development includes the application of new spin labels that expand the capability of site-directed spin labeling of proteins. These labels in combination with electron paramagnetic resonance spectroscopy (SDSL-EPR) enable the investigation of protein structure, dynamics, and structural heterogeneity. The market is growing as private players and government agencies increased investments in proteomics and genomics R&D. Proteomics is the study of the entire protein content of a cell, tissue, or organism. Proteomic profiling approaches require protein labeling methods before separation and analysis. For example, the United States National Institutes of Health (NIH) allocated USD 37 billion to scientific research.

Moreover, there is an increase in funding for life sciences research that supports molecular studies to better understand the fundamental processes by which diseases emerge, as well as the identification of biomarkers that identify the presence of disease or the gene/protein responsible for the condition. The Novo Nordisk Foundation awarded the University of Copenhagen a grant of up to USD 1.5 million to create a mass spectrometry facility, which is a new and exciting step in protein research. As a result, the market is being driven by increased spending on proteomics and genomics research and development. Protein labeling applications are widely employed for a variety of functions. Cell-based assays can offer information about intracellular molecular targets and have the advantage of being performed in a biological context.

Fluorescent antibodies are important in clinical therapy as well as for investigating immunology, cell biology, and neuroscience. A mass spectrometer is a device that detects the m/z ratio of ions to identify and quantify compounds in simple and complicated mixtures. It has proven indispensable in a variety of domains and applications, including proteomics. Immunological approaches include ways of studying the immune system as well as the application of immunological reagents as instruments. Protein microarrays are a new type of proteomic technology that is rapidly gaining popularity in molecular biology and biochemistry.

Related Press Release@ Protein Labeling Market Report

Protein Labeling Market Report Highlights

Proteins dominated the reagents segment in 2021 as fluorescent proteins are beneficial and allow in situ fusion expression through gene transfer into cells
This eliminates the need for purification, in vitro labeling, high-level heterologous production, and microinjection of recombinant proteins
The fluorescence microscopy segment is estimated to register the fastest CAGR from 2022 to 2030 due to the development of monomeric fluorescent proteins that are capable to fluoresce orange to far-red bands of the visible light spectrum
The in-vitro labeling segment accounted for the largest revenue share in 2021 and is anticipated to witness the fastest CAGR during the forecast period
The less complexity associated with in-vitro techniques and the availability of a large number of commercial kits for these techniques result in a larger share of the segment in 2021
North America accounted for the maximum revenue share in 2021 due to the presence of key manufacturers, increase in proteomics research, the advent of bioengineering technologies, and high adoption of these products in disease diagnosis-associated studies

Thursday 29 September 2022

How The Use Of Infusion Pumps Is Affecting The Home Infusion Therapy Market

What Is Home Infusion Therapy?

The intravenous or subcutaneous administration of drugs given to a patient at home through catheters or needles is known as home infusion therapy. The therapy requires drugs, equipment, and supplies for the treatment. Moreover, proper training and education are needed for the therapy. The medical staff often educate the patients and caregivers regarding the infusion of drugs, side effects, and outcome of the therapy. Home infusion therapy requires multiple coordination between the patients, pharmacies, doctors, health plans, home infusion pharmacies, and physicians.

Home Infusion Therapy Market Size And Drivers

According to the Grand View Research Inc report, the home infusion therapy market totaled USD 31.0 billion in 2021 and is anticipated to exhibit market growth at a compound annual growth rate (CAGR) of 7.9% from 2022 to 2030. The growth of the market is attributed to the cost-effective and convenient option available to the patients raised due to home infusion therapy. Favorable government rules and regulations regarding the usage of the therapy are driving the market growth. For instance, In the U.S., the Bipartisan Budget Act,2018 was introduced for providing insurance to the home infusion therapy patient as per the government regulation. Moreover, the growing prevalence of chronic diseases such as cardiovascular diseases is expected to impact market growth.

The Most Preferred Product - Infusion Pumps, Why?

Based on the product, the market is classified into infusion pumps, ambulatory pumps, intravenous sets, IV cannulas, and needleless connectors. Out of all these pumps, the infusion pump accounted for the highest revenue share of 50% in 2021 as it is the most used product of all. These pumps are widely used for the infusion of nutrients and medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. into the patient’s body at a controlled amount. Infusion pumps provide advantages such as the ability to deliver medications in very small volumes, and the ability to infuse fluids at precise programmed rates or any automated intervals.

Infusion Pumps-Definition, And Functioning

The infusion pump is defined as a medical device that infuses fluids into the patient’s body. Infusion pumps are used in hospitals, nursing homes, homes, and other clinical settings. These are particularly operated by trained users for programming the rate and duration of fluid delivery through a built-in software interface.

Types Of Infusion Pumps

There are different types of infusion pumps such as large volume, syringe, enteral, insulin pumps, and others. Out of these pumps, some pumps are used for stationary use and others to be used as portable or wearable. There are two basic classes of pumps, large volume pumps, and small volume pumps. Large volume pumps can infuse fluid replacement such as antibiotics and nutrients in a large amount. Small volume pumps can pump hormones such as insulin or other medications such as opiates. Small volume pumps usually use a computer-controlled motor turning a screw pushing the plunger on syringes, whereas the large volume pumps use computer-controlled rollers pushing the silicone rubber which contains the medicine.

Infusion Pumps Market, Drivers

The infusion pump market is anticipated to witness significant growth during the forecast period. The growth of the market is attributed to the availability of a variety of products such as enteral, syringe, multichannel, and peristaltic pumps and the accuracy gained by the software interface used for the use of infusion pumps.

The rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, cancer, and others and the growing cost of hospital-based infusion therapies have increased the demand for home infusion therapies. Moreover, the increasing research and development activities for enhancing home-based infusion products are propelling the market growth. Furthermore, the growing geriatric population who need long-term care and treatments aid the new product developments that target home-based infusion therapies, augmenting the infusion pumps market growth.

To maintain the drug level in the bloodstream of patients suffering from cancer or diabetic conditions, infusion pumps are highly preferred. Cancer patients are treated with chemotherapy, which is administrated by providing medications to the patients in a continuous manner and this is possible using pumps. Moreover, for diabetic patients, the need for self-controlled pumps to provide continuous drug supply. Altogether these are the key factors rising the demand for infusion pumps, creating opportunities for market expansion.

Market Trends & Opportunities

The application areas of infusion pumps are Chemotherapy, gastroenterology, analgesia/pain management, and diabetes. These pumps are also highly preferred for the infusion of narcotic analgesics and anesthetics following bariatric surgery, cardiothoracic surgery, and laparoscopic cholecystectomy. Thus, to perform the surgeries, the use of infusion pumps is also increasing. As the number of surgeries is being performed, a greater number of infusion pumps will be in demand, accelerating the market growth.

There are several regulations and standards implemented for the infusion pumps used to maintain the safety of patients. These are regulated by regulatory bodies such as the US Food and Drug Administration (FDA), the Medicines and Healthcare Products Regulatory Agency (MHRA), and the European Medicines Agency (EMA) to approve the launch of new products. For instance, in European countries, the CE market certification is a must for selling infusion pumps. There is a need to develop new infusion pumps across nations, creating opportunities for manufacturers to increase production.

Moreover, the demand for specialty infusion pumps is increasing at a fast pace PCA pumps keep the anesthesia in control and minimize any complications arising due to anesthetics. The eternal infusion pumps are used to treat patients who are being suffered due to indigestions after surgeries Increasing cases of preterm births, growing prevalence of chronic diseases and

COVID-19 Impact

The COVID-19 outbreak positively affected the home infusion market as the technique was highly used in healthcare settings to treat the covid patients. For instance, in October 2020, Baxter announced third quarter sales of around USD 2.97 billion to provide COVID-related medical products sales, according to the MedTech Dive. However, the supply chain and operations were impacted by the stringent lockdown situation across the countries.

The growth of the infusion pump market has thrived in the COVID-19 pandemic. People suffering from chronic diseases, and the geriatric population preferred home care treatments Moreover, conditions such as immune deficiencies, and congestive heart failure need infusion therapies. Long-term treatment with cost-effectiveness is considered a feasible treatment option for patients. Hence, the market for home infusion therapy is growing significantly across countries. Thereby, the demand for infusion pumps is propelling at a significant rate.

Regional Insights

The market in North America accounted for a revenue share of 55% of the total market. It is anticipated that the North America market continue dominating the market during the forecast period. The advanced technologies and the development of the R& D activities are attributing to the market growth in the region. The adoption of new technologies in infusion pumps and home infusion therapy services is driving the market growth.

The Asia Pacific market is anticipated to expand at a CAGR of 9.8% during the forecast period. The growing awareness about the use and benefits of home infusion therapy is driving the demand for infusion pumps in the region.

Role of Key Players

The key players operating in the market are focusing on the rapid adoption of advanced technologies to develop new products and maintain their position in the competition. Moreover, they are emphasizing strategies such as mergers, acquisitions, and new product launches.

For instance, Baxter International acquired Hillrom. This acquisition is estimated to build its geographic footprint and integrate medical device advancements.

Future Scope

Infusion pumps are advantageous and impactful for the growth of the home infusion therapy market. The demand for infusion pumps and their market is gaining significant traction at present days. Further, the market is estimated to witness considerable growth during the forecast period.

Related Reports:

EMEA Home Infusion Services Market

U.S. Home Infusion Therapy 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

Tuesday 27 September 2022

Pharmaceutical Analytical Testing Outsourcing Market Worth $14.6 Billion By 2030

The global Pharmaceutical Analytical Testing Outsourcing Market size is expected to reach USD 14.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.4% from 2022 to 2030. Increasing biological candidate pipelines, rising demand for additional analytical details on drugs, and process development by regulatory agencies are driving the market growth. Analytical testing aids in real-time product quality control as well as helps optimize and monitor processes, thereby identifying different drugs. Over the years, the number of clinical trials has increased consistently.

For instance, in 2021, over 399,525 clinical studies were registered on ClinicalTrial.gov, whereas as of June 2022, it had increased to over 421,258 studies. A continuation of this trend is expected to have a positive impact on the market in the post-pandemic period. The majority of small and medium-sized pharma companies lack the infrastructure for analytical testing. As a result, outsourcing these operations is the best option as it saves time and money. The patent cliff, primarily for small molecules and biologics, is likely to have a positive impact on the market as it will increase the number of commercial drugs in the pharma market, thus promoting the analytical testing of commercially available generic drugs.

There has been a rise in several diseases post-COVID-19. For instance, according to a report published by Children’s National Hospital- pediatric research and clinical innovations center, a study was performed on 737 youths who were diagnosed with diabetes, and it found an increased incidence of pediatric Type 1 Diabetes (T1D) by 15.2% and Type 2 Diabetes (T2D) increased by 182% between March 11, 2018, and March 10, 2021. The rise in disease incidence is expected to improve, drug production, which is likely to drive the demand for analytical services for commercial drugs.

Pharmaceutical Analytical Testing Outsourcing Market Report Highlights

The bioanalytical testing segment is expected to witness the fastest CAGR of 8.9% over the forecast due to the high number of clinical trial registrations and entry of new drug participants into the pharmaceutical market
The pharmaceutical segment gained the largest revenue share of 47.4% in 2021. The growing demand among pharmaceutical companies to focus on their core competencies is one of the major reasons for the largest segment share
North America is expected to hold the largest revenue share of 53.7% owing to the presence of a significant number of pharmaceutical companies in the region
Asia Pacific is anticipated to be the fastest-growing regional market from 2022 to 2030 due to the low-cost service offerings by the third-party service providers in the region

Peptide Therapeutics Market Size Worth $68.7 Billion By 2030

The global Peptide Therapeutics Market size is expected to reach USD 68.7 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2022 to 2030. Increasing demand for efficient and rapid-acting therapeutics for the treatment of cancer and other lifestyle-associated disorders, which result in lesser adverse effects, is anticipated to propel market growth. The rising incidence of cancer calls for exploring and introducing other means of therapies and low-cost treatment alternatives is expected to drive the market. Moreover, the growing geriatric population is expected to widen the consumer base by triggering the incidence rate of target diseases such as cancer and diabetes, which is expected to drive the demand for peptide therapeutics.

As per the International Agency for Research on Cancer (GLOBOCAN 2020) report, there will be 19,292,789 new cancer cases diagnosed globally in 2020, with 9,958,133 cancer deaths. Furthermore, the five-year prevalence of cancer was projected to be 50,550,287 worldwide. The global number of new cases of cancer is projected to reach 28,887,940 by 2040. As a result, the higher incidence of cancers around the world is set to perform an important role in the development of peptide therapeutics over the forecast period. Besides that, increasing awareness among health care providers and patients about the negative effects of chemotherapy and/or radiation therapy is a primary factor influencing the increased emphasis on alternative therapeutics like peptide-based drugs.

Technological advancements in the peptide manufacturing process are driving the market during the forecast period. Manufacturers and suppliers are focusing on the adoption of novel technologies to manufacture efficient drug molecules with low time and capital investment. Improvement in purification and automation process and less generation of waste are additional factors contributing to the market growth. For instance, in March 2022, Amgen announced the official opening of its latest bio-manufacturing facility in Holly Springs, North Carolina. The facility, which is set to open in 2025, will help cope with the growth of Amgen's medicines, which treat serious diseases like cancer and heart disease.

The COVID-19 pandemic is anticipated to spur the spectrum of cancer care, which includes delayed diagnoses, therapeutic interventions, and the impeding of clinical trials focused on developing cost-effective therapeutics for cancer treatment, with peptide therapeutics for cancer treatment being no exception, as per a research article published in Nature Cancer, 2020. There have been 21 peptide drugs in therapies for the treatment of COVID-19 as of May 2020, such as 15 synthetic peptides for the therapies of acute respiratory distress syndrome (ARDS) as well as other respiratory illnesses induced by severe acute respiratory infection. However, current implementations of peptide therapeutics in oncological and metabolic disorders and other fields have been hampered by drug shortages, operational problems, and the slow progress of clinical trials involving non-COVID-19 therapeutics.

For instance, in May 2022, EVER Pharma announced that Bortezomib has received EU-wide approval for the treatment of individuals with symptomatic myeloma and mantle cell lymphoma1. In May 2022, The European Commission approved Novartis' Jakavi post-steroid therapy for acute and chronic graft-versus-host ailments. Jakavi will be the first JAK1/2 inhibitor widely available for patients in Europe with steroid-refractory graft-versus-host ailment. In September 2021, Nimble Therapeutics and Incyte entered into strategic collaborative research to discover additional new peptide therapies.

Related Press Release@ Peptide Therapeutics Market Report

Peptide Therapeutics Market Report Highlights

By application, cancer held the second-largest revenue share in 2021 owing to the increasing demand for alternative therapeutics over conventional treatment options. Peptides are being used as potential therapeutic agents in cancer treatment
The generic type segment is expected to showcase an upward shift due to the patent expiration of blockbuster peptides and supportive government initiatives pertaining to the introduction of the generic class
By type of manufacturers, the outsourced segment is expected to expand at a lucrative CAGR of 6.6% over the forecast period owing to the requirements of complex procedures and a shift in preference toward outsourcing, which helps in eliminating the cost of production
By synthesis technology, hybrid technology is expected to witness the fastest growth over the forecast period. Benefits associated with this technology such as time conservation and ease of usage for both solid- and liquid-phase peptide synthesis are the key factors affirming growth
North America held the largest share in terms of revenue in 2021 owing to a higher level of awareness pertaining to genomics and proteomics products, well-established R&D infrastructure, and rising funding initiatives
Asia Pacific is expected to register a lucrative growth rate of 8.7% over the forecast period. The presence of an established generic industry and API providers in this region, coupled with the growing economic stability in some of the countries, is expected to propel market growth

Nasal Packing Devices Market Size Worth $271.0 Million By 2030

The global Nasal Packing Devices Market size is expected to reach USD 271.0 million by 2030, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.1% from 2022 to 2030. This is attributed to the increasing prevalence of epistaxis and the ever-growing geriatric population. The demand for nasal packing devices is constantly on the rise, as epistaxis, also known as a nosebleed, is a commonly occurring condition. However, it is not severe in every case, and therefore people used to pay minute attention to it. But since the population has become increasingly health-conscious, many people opt to get it treated before the condition worsens.

The use of nasal packing devices increased significantly during the COVID-19 pandemic. The spread of the virus was a constant threat to healthcare professionals and patients during the pandemic. Hence, patients that suffered from epistaxis could be discharged from hospitals by applying nasal packing which, with little training, could be replaced and removed at home itself. This relieved the pressure on the hospital and minimized Epistaxis patient visits. Epistaxis, if left untreated, is a constantly occurring condition and can cause high discomfort and pain to the patient. In severe cases, it may also lead to fatality. Therefore, medical professionals first try to eliminate epistaxis through electric cauterization.

In case of failure of cauterization, nasal packing is used on the site of bleeding in the nasal cavity to create pressure and control the bleeding. In epistaxis conditions, a nasal packing can prove beneficial by achieving hemostasis, preventing desiccation, protecting the site from trauma, applying constant pressure to the mucosal walls, and protecting the nasal cavity. Nasal packing is highly used to control nasal bleeding as its advantages far outweigh the disadvantages. Post-packing care is taken by doctors to ensure patient safety. Manufacturers are also constantly investing in research and development of new products that can overcome these complications. In December 2020, Medtronic launched Novapak Nasal Sinus Packing and Stent, a single-use, dissolvable packing, intended post sinus surgery. It proved highly effective in bleeding control, prevention of adhesions, and providing a moist healing atmosphere for quick patient recovery.

Related Press Release@ Nasal Packing Devices Market Report

Nasal Packing Devices Market Report Highlights

Based on type, the spray segment held a majority of the market share in terms of revenue in 2021 as they are extremely convenient to apply and eliminate the pain which is usually caused upon insertion and removal of traditional packing
On the other hand, the gel segment is likely to witness the fastest growth rate during the forecast period due to its features such as high hemostatic properties
Based on material, the non-absorbable segment dominated the market in terms of revenue share in 2021 pertaining to its cheaper price, better benefits, and increasing consumer preference
The bio-resorbable segment is likely to grow at the fastest rate in the coming years due to the new technological developments and the introduction of new and advanced products into the market
In 2021, North America dominated the market in terms of revenue share due to the growing adoption of nasal packing devices in the healthcare sector and the increasing number of epistaxis patients. In addition, a rise in COVID-19 cases in the region contributed to the market growth
Asia Pacific is anticipated to witness a significant growth rate over the forecast period owing to the increase in the number of nasal packing manufacturers, high unmet needs, and improving healthcare infrastructure

Dental Matrix Systems Market Overview, Growth Prospects and Outlook Report, 2030

The global Dental Matrix Systems Market size is expected to reach USD 589.1 million by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.8% from 2022 to 2030. A dental matrix system is used for three things, recreating the interproximal contact and the natural tooth shape, sealing the gingival walls and proximal of the prep, and overcoming the thickness of the matrix band. Dental matrix systems are built to establish a temporary interproximal wall of a tooth surface for the restoration procedure.

Restorative dentistry is one of the growing markets in the healthcare domain across the world. The market is mostly driven by factors such as the growing dental restorative procedures, rising incidence of dental problems, and increased demand for cosmetic dentistry. Furthermore, rising dental tourism and the growing adoption of digital dentistry in emerging markets are anticipated to boost the market growth during the forecast period.

According to the National Institute of Dental Research, the most prevalent and common dental disease in both, adults and children is tooth decay. Nearly 92% of the population, between the ages of 20 to 64, have dental caries. The rising incidence of oral and dental problems is a major driver contributing to the growth of the market. With the rising disposable incomes in developing economies, the willingness to afford expensive dental procedures has also increased among the population, specifically among the aging population.

Poor diet and sedentary lifestyle, especially amongst children, which leads to tooth decay, are driving the market. Furthermore, according to the American Dental Association (ADA), as of 2018, there are 199,486 dentists are working in the U.S. In addition, the Bureau of Labor Statistics mentions that dental cosmetic procedures are projected to increase by 19% from 2016 to 2026. This rising number of dental practitioners and clinics is also expected to contribute to the market growth.

The COVID-19 pandemic has significantly affected the market. Due to the lockdown and global restrictions being imposed in most of the countries initially, many dental treatments and procedures were halted. The COVID-19 pandemic has caused a significant disruption in the supply chain of the overall medical industry. The outbreak had resulted in a decrease in the number of dental procedures performed each year, resulting in an overall decline in the market.

Related Press Release@ Dental Matrix Systems Market Report

Dental Matrix Systems Market Report Highlights

The sectional dental matrix systems type segment dominated the market in 2021. This is due to the fact that sectional matrix techniques offer more predictable solutions to achieve contact areas
North America dominated the global market in 2021 with a revenue share of over 35.0% owing to the increasing number of dental professionals and dental service providers and rising technological advancements in the field of dentistry in the region
Asia Pacific is expected to register the highest CAGR of 6.9% over the forecast period owing to the rising awareness regarding dental problems and associated diseases, a growing patient population, and rapid technological advancements

Healthcare Industry Insights