Healthcare Industry Insights

Friday, 26 March 2021

Dental X-ray Market - Future Trends, Revenue Growth & Leading Players, Forecast To 2028

The global Dental X-Ray Market size is expected to reach USD 3.35 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 18.6% from 2021 to 2028. The increasing prevalence of oral diseases as well rising geriatric population are some of the factors that have led to the growth of the market.

Dental x-ray systems are useful in detecting and recording areas of decay that are undetectable by oral examination, especially minor areas of decay present between teeth. The rising prevalence of periodontitis is also accelerating the demand for these instruments. According to the CDC, 47.2% of adults aged 30 years in the U.S. have some form of periodontal disease with the condition being more common in men than women as they are more prone to smoking and health conditions, like diabetes. Other oral diseases contributing to the high demand for dental x-ray units are oral infections, gum diseases, oral cavities, periodontitis, tooth decay, and tumor or cyst detection. Early diagnosis of severe dental problems helps in treating them at the nascent stage, thus leading to potential cost savings.

The geriatric population plays a significant role in the growth of the market. This group of population is highly susceptible to various kinds of oral problems, thus considered to be a lucrative target population for the market. Furthermore, major companies are undertaking initiatives such as new product development. For instance, in 2019, Dentsply Sirona introduced Orthophos Systems 2D/3D extraoral imaging system that allows the practitioners to image, diagnose, and treat (IDT) for higher case acceptance and expand their treatment procedures into implantology, endodontics, etc.

Related Press Release @ Dental X-ray Market Report

Dental X-ray Market Report Highlights

By product, analog radiographs held the largest market share in 2020 as they are easier to use as compared to digital systems. Digital radiography is anticipated to grow at a significant rate over the forecast period as it is an environmentally friendly technology, requiring no film or chemicals and generating no waste
Based on type, intraoral x-ray imaging held the largest share in 2020 as it is the most widely used diagnostic method in the field of dentistry. Extraoral imaging is anticipated to register the highest CAGR over the forecast period due to the rising incidence of temporomandibular disorders
The medical application segment held the largest share in 2020 due to its increasing use in the diagnosis and treatment of diseases of the oral cavity, which includes gums, bone, teeth, and other oral tissues
In North America, the U.S. held the largest revenue share in 2020 as the country is witnessing a gradual shift toward the incorporation of digital imaging systems
Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to the presence of densely populated countries, such as China and India

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

Bone Graft And Substitutes Market Size is Predicted to Witness 5.8% CAGR till 2028

The global Bone Graft And Substitutes Market size is expected to reach USD 4.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.8% from 2021 to 2028. The synthetic segment is anticipated to show significant growth over the forecast period. This growth is due to the lesser risk of disease transmission, better acceptance among patients as compared to allografts, and products’ better biocompatibility. However, the demand for orthopedic devices, which include bone graft and substitutes observed a radical decrease because of the rescheduling of elective surgeries during COVID-19.

Growing cases of spinal deformities are the key driver of this market. According to a CDC report, approximately 60.0% of the aged population and 32.0% of the adult population is suffering from spinal deformities, in the U.S., as of 2017. Around 488,000 spinal procedures were performed in the U.S. Moreover, the introduction of biocompatible synthetic grafts is also expected to drive the market.

Additionally, technological advancements and the growing geriatric population are also boosting the market growth. According to Population Reference Bureau’s 2018 statistics, from 13 countries to around 82 countries across the globe are expected to have more than 20% of the geriatric population (65 years and above) by 2050. Thus, perpetual growth in the population aged 60 years and above is anticipated to result in an increased prevalence of arthritis and joint disorders.

The market in various countries is expected to witness diverse trends because of ethical issues in some of the Muslim and Jewish population dominated countries. These countries include majorly the Middle Eastern countries, which are apprehensive about using xenografts for their orthopedic surgeries. Such factors hamper market growth drastically.

Key players in the market are investing in the launch of new products and product approvals for sustaining in the market. For instance, AlloSource stated that ProChondrix CR would have 2 years of shelf life based on the results of real-time testing, as of March 2019. ProChondrix CR helps in cartilage healing and is intended to match biochemical and biomechanical properties of normal hyaline cartilage, improve patient symptoms, and restore a smooth articular cartilage surface.

Related Press Release @ Bone Graft And Substitutes Market Report

Bone Graft And Substitutes Market Report Highlights

The allograft segment dominated the market in terms of revenue share as of 2020 and is projected to witness a CAGR of over 4.8% from 2021 to 2028. Adoption of allografts is rising due to their characteristics such as osteoconductivity and immediate structural support.
North America held a major market share as of 2020, due to the growing awareness related to the commercially available advanced products, higher healthcare expenditure of 16.4% in 2018, and accessibility of a well-developed healthcare structure
The synthetic segment which includes ceramics, composites, polymers, and BMPs is expected to exhibit the fastest growth over the forecast period owing to its increasing adoption
The spinal fusion segment held a considerable revenue share of about 60.5% in the market in 2020 owing to the rising geriatric population
In North America, the U.S. is generating the maximum demand for bone grafts and substitutes because of the high prevalence of trauma-related injuries and orthopedic diseases
The industry participants are focusing on product launch, partnership, and acquisitions to sustain the competition
In Asia Pacific, the market is anticipated to witness lucrative growth of more than 7.5% owing to the rising medical tourism and favorable government initiatives

Intravenous Solutions Market by Hospira, Terumo Corporation, B. Braun Melsungen AG

The global Intravenous Solutions Market size is expected to reach USD 18.9 billion by 2028 according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.9% from 2021 to 2028. The growing incidence rate of chronic diseases such as cancer, increase in the number of premature births, and shortage of I.V. solutions in the U.S. are some of the key factors expected to drive the market.

One of the prime areas wherein intravenous (IV) fluids find usage is severe dehydration. Severe dehydration is seen in diseases such as diarrhea, resulting in the depletion of fluids from the body. According to the WHO, in 2017, diarrhea was the second leading cause of death in children under 5 years of age with around 5,25,000 lives lost each year. Intravenous (IV) fluids can play a key role in the treatment and prevention of deaths caused due to the dehydration/fluid loss associated with diarrhea. Other cases where intravenous fluids find application include surgeries and emergency situations.

The ongoing COVID-19 pandemic is expected to have a positive impact on the market. Intensive Care Units (ICU) worldwide are either operating at full capacity or are overcrowded due to the high influx of patients infected with severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). As per an article published by BBC, in January 2021, critical care wards across England were running in full capacity. Nutritional care is one of the essential elements in managing these patients. This has increased the demand for intravenous (IV) fluids, as many of the patients, especially the elderly population are placed on ventilators and are unable to consume food orally.

Related Press Release @ IV Solutions Market Report

IV Solutions Market Report Highlights

The Total Parenteral Nutrition (TPN) segment led the segment in terms of revenue share in 2020 owing to its growing applications in the management of chronic diseases
The increasing number of surgeries and post-operative nutritional management is a prime factor driving the vitamins and minerals (salt and electrolyte) segment’s growth
North America dominated the market with a revenue share of nearly 40.8% in 2020 due to the high usage of IV fluids in the U.S.

Thursday, 25 March 2021

Active Pharmaceutical Ingredient Market Worth $312.56 Billion By 2028

The global Active Pharmaceutical Ingredients Market size is expected to reach USD 312.56 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.6% from 2021 to 2028. The market is driven by the growth of the biopharmaceutical sector, advancements in active pharmaceutical ingredient (API) manufacturing, and an increase in the geriatric population.

The growth of the captive API segment is propelled by companies investing in solving challenges and developing new chemical ways for the production of APIs in house. This aids in reducing costs and the risk of contamination. Artificial intelligence and protein synthesis are expected to facilitate faster development with greater control over the process.

The rising prevalence of chronic and lifestyle-based conditions, such as cardiovascular diseases, is accelerating the demand for API. For instance, as per U.S. Pharmacist in 2020, 47% of adults have at least one risk factor that supports cardiovascular disease development. Cardiovascular diseases are one of the global, critical public health burdens driving extensive R&D for APIs in the field.

The generic API segment is gaining share in the market owing to its cost effectiveness, which helps in catering to the needs of the rising number of patients in developing regions with a low-income population. According to the Association for Accessible Medicines (AAM), in 2017, there was a considerable rise in manufacturing units in Asia, Australia, and EU5. There has also been an increase in the market share of generic drugs.

Developing nations like India are receiving an increased preference in the market over dominant API market countries, like China, owing to geopolitical situations. Furthermore, other factors favoring India include quality raw materials and products, large workforce, vast distribution network, and government subsidies under schemes like “Make in India”.

For addressing unmet medical needs, companies are collaborating to develop novel treatments. This allows firms to use their resources to aid in the development of products and enhance the supply chain. In August 2019, OmniChem Private Limited was acquired by Ajinomoto Bio-Pharma Services (earlier they were in a joint venture since 2011 for the manufacturing of APIs). The acquisition was completed in June 2020.

Related Press Release @ Active Pharmaceutical Ingredient Market Report

Active Pharmaceutical Ingredient Market Report Highlights

According to the WHO, around 17.5 million people die each year due to cardiovascular diseases, accounting for 31% of all deaths across the globe
The growing geriatric population in Asian countries, such as Japan and China, along with high untapped opportunities, is expected to drive the market during the forecast period. It is estimated that over 20% of the Japanese population is aged 65 and above
According to the CDC, about 795,000 people in the U.S. suffer from stroke every year, out of which 87% cases are of ischemic stroke
Companies are looking to diversify their API suppliers and manufacturers to different locations instead of outsourcing it to just one manufacturer or country
Key players are increasingly focusing on vaccines, for instance, Sanofi announced an investment of USD 601.37 million for vaccine production and research in France. These investments are anticipated to drive the development of new vaccine APIs in the coming years to help facilitate readiness to deliver new products

Digital Health Market is Projected to Register 15.1% CAGR till 2028

The global Digital Health Market size is expected to reach USD 295.4 billion by 2028 and is projected to expand at a CAGR of 15.1% over the forecast period, according to a new report by Grand View Research, Inc. Rising smartphone penetration & integration of advanced technologies, such as the internet of things (IoT) & artificial intelligence (AI), and increasing implementation of mHealth technologies for self-management of chronic diseases, such as diabetes, are some of the major factors driving the market. In addition, increasing demand for enhancing workflow efficiency in clinics, hospitals, and other healthcare centers is further boosting the demand for mHealth services thereby, aiding the market growth.

Moreover, ongoing technological advancements for developing advanced digital solutions coupled with a growing number of favorable initiatives by the government & private sectors are contributing to the overall market growth. For instance, as per the data published in 2017, researchers at the University of Illinois have developed a camera to improve the diagnostic features of smartphones. In 2020, the mHealth technology type segment accounted for the highest revenue share. A rise in the number of health apps has significantly contributed to the segment growth in recent years. As per the data published by the My Health Apps blog in May 2018, a total of 325,000 health, fitness, and medical apps were available in 2017.

Mobile operators are constantly leveraging mHealth technologies and solutions by supporting services, such as diagnosis, monitoring, and patient management. In addition, they are increasingly adopting strategies in the form of partnerships and agreements to enhance their product offerings, which, in turn, is contributing to the segment growth. For instance, in 2019, OneLife, a mobile medical software company, partnered with AT&T for the development of a health-tracking watch to monitor a patient’s heart rate, location, sleep, and movements. In 2020, the services component segment accounted for the highest revenue share.

System integration, training & education, maintenance & support, and consulting are among the few service offerings that are covered in this segment. Growing demand for continuous M2P data flows, to boost the efficiency of the medical systems, improve informed decision-making in real-time, and enhance security, is driving the segment growth. On the other hand, software is anticipated to register the fastest growth during the forecast period. The key factors that can be attributed to this growth are rising investments by the market participants to develop innovative connected solutions for the healthcare industry, technological advancements, and rising adoption of digital technologies & connected systems in the health centers.

Related Press Release@ Digital Health Market Report

Digital Health Market Report Highlights

The mHealth technology segment dominated the global market in 2020 owing to the increasing penetration of smartphones and rising number of strategic alliances among mobile operators & mHealth startups.
The services component segment accounted for the highest revenue share of the global market in 2020
North America was the leading regional market in 2020 owing to rise in the geriatric population and awareness regarding health & fitness among consumers
High internet and smartphones penetration along with growing usage of medical/health-related apps is one of the key factors responsible for the market growth in North America
However, APAC is expected to register the fastest CAGR from 2021 to 2028 due to the rising usage of tablets, smartphones, and other mobile platforms
The rising geriatric population in countries, such as India and China, and the growing burden of chronic conditions are further boosting the demand for mHealth technologies in the region

Pulse Oximeter Market by Medtronic (Covidien), Carefusion Corp., GE Healthcare

The global Pulse Oximeter Market size is expected to reach USD 3.4 billion by 2028, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.4% from 2021 to 2028. Technological advancements in products, growing healthcare costs, and readmission, and increasing adoption of pulse oximetry devices are expected to boost market growth during the forecast period. Market players are introducing devices that are more efficient and support telehealth approaches. For instance, in February 2017, the company received a CE mark for Rad-97 Pulse CO-Oximeter used to monitor blood pressure at set intervals. It is also capable of transferring the data to a remotely connected device.

There are various other types of oximeters such as wrist-worn oximeters, bedside, or desktop oximeters, and mobile phone pulse oximeters, the latest addition. These oximetry devices are equipped with a sensor that is compatible with the software installed in a user’s mobile phone, which analyzes data to display information. For instance, iHealth Labs, a subsidiary of a China-based company, Andon Health, offers such products. In October 2013, the company received FDA approval for its wireless pulse oximetry device.

Related Press Release @ Pulse Oximeter Market Report

Pulse Oximeter Market Report Highlights

The fingertip pulse oximetry devices are being used by customers to self-monitor symptoms of COVID-19 contributing to segment growth since the onset of the pandemic
In handheld pulse oximetry devices, the probe, which is very delicate and prone to damage, can be replaced, unlike in fingertip oximeters, and is expected to be in high demand due to the advantage of reduced risk of COVID-19 transmission
There is an upward trend in the use of the medical device in homecare settings as it enables tracking and storing of patient's oxygen level readings, which reduces the need for hospital readmissions
North America held the largest share in the market in 2020 due to factors such as availability of funds for R&D. The sales for fingertip pulse oximetry devices soared in January 2020 and March 2020 in the U.S. post the country-wide spread of the novel coronavirus and release of the WHO guidelines citing the oximeter as an essential device for monitoring blood oxygen during self-management
In Asia Pacific, the demand for medical devices has increased from hospitals for monitoring critically ill COVID-19 patients. As the spread of the novel coronavirus has progressed significantly, the Ministry of Health and Family Welfare in India has notified all healthcare facilities to make necessary arrangements for devices used in diagnostics, treatment, and management of Severe Acute Respiratory Syndrome (SARS)
The industry is also witnessing mergers, acquisitions, and licensing agreements. For instance, in December 2016, Nihon Kohden announced an absorption-type merger of 11 wholly-owned consolidated subsidiaries to improve management and efficiency of operations

Sleep Apnea Devices Market Worth $6.1 Billion By 2028 | CAGR: 6.2%

The global Sleep Apnea Devices Market size is expected to reach USD 6.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. Obesity is a major factor in sleep apnea. The global prevalence of obesity is estimated to reach 18.0% in men and 21.0% in women by 2025. This, in turn, is estimated to drive the market as more than half of the overweight or obese people suffer from Obstructive Sleep Apnea (OSA).

Moreover, the rising geriatric population due to increasing life expectancy is expected to impel the prevalence of OSA. Sleep disorders increase with age, which is one of the key factors for high market share. However, low awareness and consequent low penetration of sleep apnea equipment in developing and underdeveloped economies present lucrative growth opportunities to market participants.

The outbreak of COVID-19 pandemic negatively impacted the growth of the medical equipment required to diagnose the disease. There was the temporary closure of physician practices, home medical equipment suppliers, and sleep clinics due to quarantine or government restrictions, to control the spread of COVID-19. This, in turn, has resulted in the decreased growth rate of diagnostic equipment during the COVID-19 related lockdowns.

However, sleep and respiratory care equipment witnessed a rapid increase in demand during the pandemic. The usage of PAP devices as an alternative to ventilators significantly increased the demand for PAP equipment. Moreover, a rise in adherence to PAP therapy for sleep apnea after the initial stages of the pandemic, as risk factors associated with COVID-19 are commonly present in the patients, positively impacted market growth.

The development of new technologies for the treatment and diagnosis of the disease is driving market growth. Moreover, new alternatives to CPAP equipment such as nasal and oral equipment are developed for patients with low CPAP tolerance. For instance, In February 2021, GoPAPFree, a homecare oral devices manufacturer for OSA, launched O2 Vent Optima to serve as an effective and more convenient CPAP alternative. This device increases sleep apnea therapy response by 40.0%. In February 2020, Fisher and Paykel launched F&P Evora with CapFit headgear, a compact nasal mask for treating sleep apnea. The company launched this product in the markets of New Zealand, Europe, Australia, and Canada.

Related Press Release@ Sleep Apnea Devices Market Report

Sleep Apnea Devices Market Report Highlights

Therapeutic devices emerged as the leading type segment in 2020 with a revenue share of 76.9% in the market
North America dominated the market in 2020 with a revenue share of 49.0%. The large patient pool and presence of established manufacturers are anticipated to further strengthen market growth in this region
The number of sleep tests being conducted in the U.S. is increasing rapidly, as a larger number of people are concerned about the health risks arising from sleep apnea