Healthcare Industry Insights: February 2024

Monday 26 February 2024

Injection Pen Market by Owen Mumford Ltd.; Eli Lilly and Company; GlaxoSmithKline plc; Mylan N.V.; AstraZeneca

The global Injection Pens Market is expected to reach USD 67.9 billion by 2025, according to a new report by Grand View Research, Inc., registering a 9.4% CAGR during the forecast period. High demand for these devices for management of various chronic as well as acute diseases and increasing awareness in developing regions are key factors expected to drive the market.

Injectable pens have witnessed significant success in improving patient convenience during management of chronic disease, a process that might include administering intermittent injections. These devices are more convenient and affordable than other delivery systems. Ongoing studies on the same to assess their applications in management of other diseases, including but not limited to Hepatitis C and cancer, is expected to ensure swift market growth through 2025.

Related Press Release@ Injection Pen Market Report

Injection Pen Market Report Highlights

Rising incidence of diseases such as diabetes and arthritis is primarily boosting market growth
Increase in government healthcare expenditure and availability of favorable healthcare insurance policies in developed as well as developing countries is driving the market
By product, reusable injectable pens are the largest and fastest growing segment owing to the advantages associated with them such as cost effectiveness and patient convenience. Commercially available reusable injectable pens mainly include Novopen, Luxura, Berlipen, AllStar, NovoRapid, basalgar, Bydureon, Epipen and Genotropin
By dosage, variable dosage is the fastest growing segment. Some of the customizable variable pens are UnoPen, ServoPen and Ypsopen by Ypsomed, Madie by SHL Group, and Evo pen by Copernicus
North America dominates the market, followed by Europe. Technological advancements and increase in incidence of osteoporosis, arthritis, and anaphylaxis are factors that can be attributable to its largest market share
Asia Pacific is expected to be the fastest growing region over the forecast period. Better accessibility to healthcare, coupled with constantly increasing healthcare expenditure in the region, is fueling market growth
China is one of the most lucrative markets with tremendous growth opportunities for global as well as local players. This is owing to favorable factors such as availability of labor and raw materials at significantly lower prices as compared to other regions
Key players in the market include Owen Mumford Ltd.; GlaxoSmithKline plc; Eli Lilly and Company; Mylan N.V.; AstraZeneca; Novo Nordisk; Sanofi; and Sandoz Inc.

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Injection Pen Market Segmentation

Grand View Research has segmented the global injection pens market on the basis of product, dosage, application, and region:

Injection Pens Product Outlook (Revenue, USD Billion, 2014 - 2025)

Disposable
Reusable

Injection Pens Dosage Outlook (Revenue, USD Billion, 2014 - 2025)

Fixed
Variable

Injection Pens Application Outlook (Revenue, USD Billion, 2014 - 2025)

Diabetes

Insulin
Non-insulin

Anaphylaxis
Osteoporosis
Growth hormone deficiency
Arthritis
Others

Injection Pens Regional Outlook (Revenue, USD Billion, 2014 - 2025)

North America

U.S.
Canada

Europe

Germany
U.K.
Greece
Denmark
Spain
Norway
Belgium
Austria

Asia Pacific

Japan
China
India
Thailand
Australia
Singapore
Malaysia
Sri Lanka
Bangladesh
South Korea

Latin America

Brazil
Mexico
Argentina

UAE
Saudi Arabia
South Africa
Qatar
Kuwait

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.

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Grand View Research, Inc
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Friday 23 February 2024

Animal Genetics Market Size is Predicted to Witness 4.9% CAGR till 2026

The global Animal Genetics Market size is expected to reach USD 8.9 billion by 2026, according to a new report by Grand View Research, Inc. exhibiting a CAGR of 4.9%. The market for animal genetics is anticipated to witness rise in demand owing to factors such as increasing consumption of animal proteins and rapid global urbanization. To fulfill the continuously rising demand, the preference for genetics to breed high-quality livestock and secure large production has increased. The demand for animal genetics has increased over the years, owing to rise in various animal diseases, increasing prevalence of zoonotic diseases, and rise in adoption of pets & companion animals.

According to Food and Agriculture Organization (FAO) publication 2017, livestock contributes almost 40% to the global value of agricultural output, and it supports food security and livelihood of more 1.5 billion people worldwide. However, the increasing land requirement for these animals and grazing is a major environmental concern. Public awareness regarding such concerns is a major reason leading to the shift toward white meat and vegan lifestyle, impeding growth of animal genetics. However, increasing support and research by government organizations to improve productivity is aiding growth. For instance; Animal Improvement Program Launched in 2014, by Animal Genomics and Improvement Laboratory (AGIL), which is an agricultural research service organization of USDA. The program aims at improving productivity and efficiency of dairy animals & ruminants.

The market follows the standards set by International Society of Animal Genetics (ISAG) and leading animal research laboratories such as The University of California Davis (U.C. Davis). The ISAG standard panel consists of 18 STR markers, and any company in animal genetics needs to follow the panel and standards set by the authorities. The need for high investments in development of new technology and the duration of product launch are some of the major factors resulting in steady growth. However, increasing population is expected to pose an ongoing challenge due to rise in the need for animal protein, aiding developments in the market.

Related Press Release@ Animal Genetics Market Report

Animal Genetics Market Report Highlights

Porcine segment was the largest revenue-generating segment in 2018, owing to increasing consumption of pig meat in the European countries
The embryo segment accounted for the largest revenue share, based on genetic material, in 2018, owing to the large numbers of embryos produced and sold in countries such as France, Canada, Brazil, and Spain
In the services segment, the genetic diseases testing segment accounted for the largest share in 2018 and is expected to maintain its dominance throughout the forecast period
The North American animal genetics market is the leading region and accounted for the largest revenue share in 2018, mainly due to existence of significant number of research and development activities in the region
The Asia Pacific region is expected to grow at the highest rate during the study period. Growing population coupled with increasing demand for animal protein is a major factor aiding regional growth
Some of the major players are Genus Plc; Envigo Corporation; Topigs Norsvin; CRV Holding B.V; Groupe Grimaud La Corbiere SA; Hendrix Genetics BV; Neogen Corporation; Zoetis, Inc; URUS; and Animal Genetics, Inc.

Animal Genetics Market Segmentation

Grand View Research has segmented the global animal genetics market on the basis of live animals, genetic material, services, and region:

Animal Genetics Live Animals Outlook (Revenue, USD Million, 2014 - 2026)

Porcine
Bovine
Poultry
Canine
Others

Animal Genetics Genetic Material Outlook (Revenue, USD Million, 2014 - 2026)

Embryo
Semen

Animal Genetics Service Outlook (Revenue, USD Million, 2014 - 2026)

Genetic Trait Testing
Genetic Diseases Testing
DNA Typing

Animal Genetics Regional Outlook (Revenue, USD Million, 2014 - 2026)

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain

Asia Pacific

Japan
China
India
Australia
South Korea

Latin America

Brazil
Mexico
Argentina

South Africa
UAE

Tuesday 20 February 2024

Medical Waste Management Market by REMONDIS SE & Co. KG; Republic Services, Inc.; Sharp Compliance, Inc.; Stericycle, Inc.

The global Medical Waste Management Market size is expected to reach USD 59.42 billion by 2030, registering CAGR of 8.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The development of innovative manufacturing techniques in pharmaceuticals, medical devices is growing at a rapid pace. The rise in hospitals, multispecialty clinics, and diagnostic centers that require a large number of inventories for day to day functioning is also leading to the generation of more waste. Thus, overall growth in the healthcare industry coupled with the rising patient population requiring to prolong medical and surgical aid is fueling the market growth.

Rapid growth in initiatives by the government to support and raise funds for effective waste management is anticipated to drive the market growth. These programs are conducted for creating awareness regarding the importance of systems for proper waste disposal. Additionally, taking steps to set standards and guidelines for the same is anticipated to propel the market growth.

The medical waste management involves high capital investment for managing hazardous by-products and disposal of infectious material. This disposal and recycling processes are associated with the release of hazardous gases and compounds which may disturb the ecosystem and are likely to affect the industry growth.

List of Key Players of Medical Waste Management Market

REMONDIS SE & Co. KG
Republic Services, Inc
Sharp Compliance, Inc
Stericycle, Inc
Suez environment
Veolia
Waste Management, Inc
Clean Harbors, Inc.
BioMedical Waste Solutions, LLC
Daniels Sharpsmart, Inc.

Related Press Release@ Medical Waste Management Market Report

Medical Waste Management Market Report Highlights

Based on treatment, the incineration segment led the market with a largest revenue share of 39.73% in 2023, due to its simplicity and convenience.
Based on treatment site, the offsite segment led the market with the largest revenue share of 58.86% in 2023, due to the rise in the use of advanced, single-use surgical products.
North America dominated the market with a revenue share of 30.36% in 2023. The advanced healthcare infrastructure in North America contributes to the dominance of the region in the medical waste management sector.

Medical Waste Management Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 37.45 billion
Revenue forecast in 2030	USD 59.42 billion
Growth rate	CAGR of 8.0% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030

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Medical Waste Management Market Segmentation

Grand View Research has segmented the global medical waste management market by services, treatment, and region:

Medical Waste Management Treatment Site Outlook (Revenue, USD Million, 2018 - 2030)

Onsite

Collection
Treatment
Recycling
Others

Offsite

Collection
Treatment
Recycling
Others

Medical Waste Management Treatment Outlook (Revenue, USD Million, 2018 - 2030)

Incineration
Autoclaving
Chemical treatment
Others

Medical Waste Management Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

U.S.
Canada

Europe

UK
Germany
France
Italy
Spain
Denmark
Sweden
Norway

Asia Pacific

Japan
China
India
South Korea
Australia
Thailand

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

South Africa
Saudi Arabia
UAE
Kuwait

Monday 19 February 2024

Inflammatory Bowel Disease Treatment Market Worth $27.0 Billion By 2030

The global Inflammatory Bowel Disease Treatment Market size is expected to reach USD 27.0 billion, expanding at a CAGR of 3.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing prevalence of the disease, the surge in awareness about inflammatory bowel disease among people, and favorable regulatory scenarios are projected to drive the inflammatory bowel disease treatment market over the forecast period. For instance, in December 2022, Pfizer Inc. announced the U.S. FDA acceptance for review of an NDA for etrasimod for patients having severe ulcerative colitis. The favorable initiatives undertaken by regulatory authorities for treatment designations and approval of novel drugs for the management of inflammatory bowel disease are fueling market expansion.

The increasing collaboration of market players and non-profit organizations to counter various challenges in the development of novel therapeutics for IBD treatment is projected to propel market growth. For instance, in October 2022, Verily, a precision health company and the Crohn’s & Colitis Foundation expanded their strategic collaboration to accelerate research in ulcerative colitis and Crohn’s disease. In addition, the European Crohn’s and Colitis Organization has taken several favorable steps to improve the care of patients living with inflammatory bowel disease.

Recently approved novel drugs such as filgotinib, ozanimod, upadacitinib, and risankizumab for the treatment of inflammatory bowel disease are expected to support market growth in the coming years. Moreover, the regulatory authorities are encouraging manufacturers to develop novel therapeutic approaches for rare and life-threatening diseases. For instance, in December 2020, Thetis Pharmaceuticals received an orphan drug designation for TP-317 from the U.S. FDA for pediatric ulcerative colitis. Such favorable initiatives are expected to boost the R&D activities to develop novel therapeutic products for IBD.

Furthermore, the rising demand & approvals for biosimilars for the treatment of various inflammatory conditions is a high-impact rendering factor for the market. For instance, in December 2022, the U.S. FDA approved Idacio as an eighth adalimumab biosimilar in the U.S. The newly approved biosimilar is a citrate-free low-concentration preparation intended for the treatment of several inflammatory conditions, including CD in adults and children aged 6 years or older. In addition, in October 2021, the U.S. FDA approved Cyltezo for the management of moderate to severe CD and UC. Moreover, the increasing introduction of biosimilars is expected to boost the adoption of biological products for the treatment of IBD in developing economies.

Moreover, government bodies are taking efforts to promote the uptake of biosimilars with their safe use. For instance, in October 2022, the government of Saskatchewan launched a biosimilar initiative to help its residents to access high-quality therapeutics at a lesser cost. Similarly, provinces like Ontario and Quebec in Canada are also expanding biosimilar initiatives to promote the uptake of biosimilar candidates.

List of Key Players in the Inflammatory Bowel Disease Treatment Market

AbbVie Inc
Takeda Pharmaceutical Company Limited
Pfizer Inc
Biogen
Novartis AG
Lilly
UCB S.A.
CELLTRION INC.
Merck & Co., Inc.
Johnson & Johnson Services, Inc

Related Press Release@ Inflammatory Bowel Disease Treatment Market Report

Inflammatory Bowel Disease Market Report Highlights

The Crohn’s disease segment held the largest share owing to the increasing prevalence of the condition and the high prescription rate of biologics for the treatment of the disease
The ulcerative colitis segment is poised to register the fastest growth rate due to the rising approval of biologics for the treatment of ulcerative colitis and the high patient base
The TNF inhibitors segment accounted for the largest market share in 2022 owing to the high prescription rate for the treatment of IBD and rising consumer awareness about TNF inhibitors
Based on the route of administration, the injectable segment dominated the inflammatory bowel disease treatment market in 2022, whereas the oral segment is anticipated to be the fastest-growing segment
The hospital pharmacy segment was the largest in 2022, owing to higher hospitalization rates and favorable reimbursement coverage
Asia Pacific is expected to exhibit the fastest growth rate over the forecast period due to the rising investments by market players and increasing disease prevalence in the region

Inflammatory Bowel Disease Treatment Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 21.56 billion
Revenue forecast in 2030	USD 27.0 billion
Growth rate	CAGR of 3.6% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

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Inflammatory Bowel Disease Market Segmentation

Grand View Research has segmented the global inflammatory bowel disease treatment market based on type, drug class, route of administration, distribution channel, and region:

Inflammatory Bowel Disease Treatment Type Outlook (Revenue, USD Million, 2018 - 2030)

Crohn's Disease
Ulcerative Colitis

Inflammatory Bowel Disease Treatment Drug Class Outlook (Revenue, USD Million, 2018 - 2030)

Aminosalicylates
Corticosteroids
TNF inhibitors
IL inhibitors
Anti-integrin
JAK inhibitors
Others

Inflammatory Bowel Disease Treatment Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

Oral
Injectable

Inflammatory Bowel Disease Treatment Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

Hospital Pharmacy
Retail Pharmacy
Online Pharmacy

Inflammatory Bowel Disease Treatment Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain
Denmark
Sweden
Norway

Asia Pacific

Japan
China
India
South Korea
Australia
Singapore
Thailand

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

South Africa
Saudi Arabia
UAE
Kuwait