Healthcare Industry Insights

Tuesday, 9 November 2021

C-reactive Protein Testing Market by Key Players: Thermo Fisher Scientific, inc., F. Hoffmann-La Roche Ltd

The global C-Reactive Protein Testing Market size is expected to reach USD 5.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 0.3% from 2021 to 2028. The market growth can be attributed to substantial research activities to explore the applications of C-reactive protein (CRP) testing coupled with the presence of private as well as public agencies which grant funds to expedite the research proceedings in this arena.

A rise in the number of strategic deals and developments coupled with the increase in investments for R&D of C-reactive protein testing is expected to drive the market significantly. The ongoing COVID-19 pandemic has affected the CRP testing market to a great extent. As CRP is considered to be the determining biomarker for the severity of infection/inflammation, the market is witnessing increased demand for CRP testing services and products. Major operating companies such as Abbott offer supportive tools for CRP testing for SARS-CoV-2 infection.

The development of novel technologies to analyze CRP concentration is a high-impact rendering driver for market growth. The emergence and advances in nano-technological tools are expected to provide an attractive perspective in designing portable bioanalytical assays with high specificity and sensitivity, faster response time, and multiplexing capabilities for on-site accurate disease diagnosis, and monitoring. Plasmonic nanoparticles (PNPs) is a tool that can be used for bio-sensing applications owing to their versatile optical properties.

Related Press Release@ C-reactive Protein Testing Market Report

C-reactive Protein Testing Market Report Highlights

The immunoturbidimetric assay generated the largest revenue share amongst all the assay types in 2020 owing to the development and launch of the highly sensitive, automated, and less expensive immunoturbidimetric assay with a broad measuring range for the levels of C-reactive protein in samples
hs-CRP was the highest revenue-generating detection range segment in 2020 as it features a broad detection range as compared to conventional CRP
Cardiovascular diseases are the most common application of c-reactive protein testing and is anticipated to dominate the market throughout the analysis period
This is because of the high adoption rate of c-reactive protein tests to detect inflammation in arteries and thus patients at high risk for heart attack, stroke, peripheral arterial diseases, and other cardiovascular disorders
The hospitals segment registered the market share in 2020 owing to the rising penetration of CRP testing in hospitals, especially after the COVID-19 pandemic, and thereby increase in the testing rate
North America accounted for the largest market share in 2020. This can be attributed to various factors such as well-established healthcare infrastructure, supportive government policies, and high R&D investments in the region
In addition, the rising incidence of chronic heart diseases and cancers is also one of the major factors responsible for market growth
The Asia Pacific is projected to grow at the fastest pace. The COVID-19 pandemic was originated in China. Being the potential biomarker for determining the severity of the infection and the rapidly increasing number of COVID-19 cases in Asian countries, the demand for CRP testing is expected to increase in the near future
According to an article published in June 2021, doctors are recommending CRP testing for the COVID-19 patients with critical conditions who are in hospital care. This is expected to increase the demand, in turn, driving the market
These companies are involved in their business expansion through the launch of novel products and expand their market presence through agreements, partnerships, and other initiatives

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Clinical Trial Supply And Logistics Market: Current Scenarios and Opportunities

The global Clinical Trial Supply And Logistics Market size is expected to reach USD 5.4 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.1% from 2021 to 2028. The market growth is attributed to the increasing need to manage clinical trials and innovations and technology advancements in clinical trial supply and logistics services.

However, the COVID-19 pandemic had a negative impact on the market due to restrictions imposed by countries, which led to a 95% reduction in commercial airlines. Besides, clinical trials have increased due to the rising demand for the Covid-19 vaccine. According to the WHO, more than 80 vaccines are currently being studied in clinical trials, with over 180 in the pre-clinical stage. There would be a challenge for logistics related to timelines and access to a large population.

Digitalization tools are required to overcome these challenges for future trials. For instance, a kit with a scannable label can be monitored throughout the supply chain from the kit assembly line to the patient’s home. Machine learning algorithms can take the process a step further by considering various factors across multiple supply chains, such as capacity or hours of service. Radio-frequency identification (RFID) can also aid in the management of shipments required for these clinical trials.

Related Press Release@ Clinical Trial Supply And Logistics Market Report

Clinical Trial Supply And Logistics Market Report Highlights

The logistics and distribution service segment dominated the market in 2020 with a revenue share of over 20.0% owing to an increase in clinical trials as a result of Covid-19
Based on phase, the phase III segment dominated the market with a revenue share of over 40.0% in 2020
In terms of end-user, the pharmaceuticals segment held the largest revenue share of over 40.0% in 2020. This is due to the investment by companies and the presence of a large number of players in the market
By therapeutic area, the cardiovascular diseases segment dominated the market with a revenue share of over 25.0% in 2020 due to an increase in the number of cardiovascular research studies and firms focused on bringing innovative drugs to the market
Asia Pacific is anticipated to register the fastest growth rate of 7.8% throughout the forecast period. The region has access to a large and diversified patient pool, cheaper recruitment costs, and favorable policies that make Asia Pacific desirable for clinical trials

Vitrectomy Devices Market: Current Scenarios and Opportunities

The global Vitrectomy Devices Market size is expected to reach USD 1.7 billion by 2028. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. The growing prevalence of diabetes is expected to drive the probability of diabetic retinopathy, thus, contributing to market growth. Additionally, the growing demand for vitrectomy due to its associated advantages for providing support to other ophthalmic surgeries is also expected to boost the market growth.

Ophthalmic diseases are seen prevalent in the elderly population. The growing geriatric population is expected to drive the market and the need for vitrectomy devices. As per the National Institute on Aging (NIA), the elderly population is expected to reach 72.0 million people by 2030, which may drive the prevalence of ophthalmic disorders. In addition to this, an increasing number of hospital admissions for retinal surgeries such as vitrectomy is expected to drive market growth. Moreover, hospitals have also installed vitrectomy devices to enhance vitreoretinal surgery procedures.

COVID-19 is expected to negatively impact the market in 2020. This is due to the reduction in medical setting visits for ophthalmic care to avoid the spread of infection. Additionally, people with COVID have to experience ophthalmic problems like conjunctivitis, which in turn, is causing hindrance among the medical professionals to perform general ophthalmic surgeries. However, the development of government guidelines to provide constant and effective medical care including ophthalmology may boost market growth during the forecast period.

The risks associated with vitrectomy are also expected to hinder the market growth. Patient undergone vitrectomy has a high probability of generating cataract after few years, thus, negatively impacting its adoption. Additionally, the lack of professional ophthalmologists to understand the operations of advanced vitrectomy devices with multiple functionalities may also pose a threat to the market.

Related Press Release@ Vitrectomy Devices Market Report

Vitrectomy Devices Market Report Highlights

The vitrectomy machines held the largest revenue share in 2020 owing to the development of advanced machines with features such as small gauge size, and intraocular pressure control
The vitrectomy packs segment is expected to grow at the fastest rate during the forecast period owing to its growing adoption for various indications
The retinal detachment application segment is expected to grow at the fastest rate over the forecast period owing to the growing prevalence of high myopia. Patients with high myopia have a larger probability of developing retinal detachment
The ambulatory surgical centers segment is expected to exhibit the highest growth rate during the forecast period due to its reduced costs and shorter wait time
In Asia Pacific, the market is expected to grow at the highest rate due to the maximum cases of diabetic retinopathy in the region and the presence of a large patient pool

U.S. Medical Carts Market Size Worth $1.6 Billion By 2028

The U.S. Medical Carts Market size is anticipated to reach USD 1.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.8% from 2021 to 2028. The rapid increase in the volume of hospitals and urgent care centers and growing hospitals admissions along with the increasing incidence of musculoskeletal injuries among caregivers are expected to boost the adoption of medical carts significantly over the forecast period.

In addition, with the rise in the number of COVID-19 cases, there will be a significant increase in the use of medical carts in the country. Since COVID-19 is extremely infectious, medical equipment such as handheld diagnostics is one of the main sources of infection, and this must be addressed. Thus, the use of medical carts for the safe administration of drugs and meeting other essential needs of patients and healthcare personnel is projected to increase during the pandemic.

The number of large hospitals in the U.S. is increasing the demand for medical carts. For instance, according to the American Hospital Association, in 2019, there were 6,090 community hospitals, 208 Federal Government hospitals, and 625 nonfederal psychiatric hospitals in the U.S. Furthermore, according to the Urgent Care Association report, as of 2019, there were around 9,616 urgent care centers in the U.S. Similarly, the CDC stated that approximately 136 million U.S. patients visit emergency rooms each year, with around 30% of visits associated with injuries. Thus, the high number of emergency room visits and the presence of several emergency care units are boosting the use of medical carts in these units.

Related Press Release@ U.S. Medical Carts Market Report

U.S. Medical Carts Market Report Highlights

Based on product, the mobile computing carts segment dominated the market and accounted for the largest revenue share of 60.6% in 2020
Based on type, the emergency carts segment dominated the market and accounted for the largest revenue share of 41.7% in 2020. This can be attributed to its higher usage in emergency care units. As the risk of infectious diseases is high in emergency care units
Based on end-use, the hospitals segment dominated the market and accounted for the largest revenue share of 36.9% in 2020. However, the physicians’ offices/clinics/offices based labs segment is expected to witness the highest CAGR during the forecast period

Tuesday, 2 November 2021

Multiparameter Patient Monitoring Systems Market Worth $16.1 Billion By 2028

The global Multiparameter Patient Monitoring Systems Market size is anticipated to reach USD 16.1 billion by 2028, expanding at a CAGR of 5.7%, according to a new report by Grand View Research, Inc. Some of the key industries in this market include Koninklijke Philips N.V., GE Healthcare, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Drägerwerk AG & Co. KGaA. Rising health concerns and resultant need to constantly monitor the health parameters of patients, before and after surgery is creating demand for multiparameter patient monitoring systems.

The market growth is also supported by the increasing need for hospital transport, such as intrahospital or out-of-the-hospital transport. For special examination and therapy, hospitals require intrahospital transport, which calls for more continuous monitoring of vital signs including heart rate, blood pressure, blood oxygen saturation by pulse oximetry, and electrocardiography.

Healthcare providers are continually looking for innovative products to provide superior quality of care, which is also expected to drive the market. Mobile solutions, data integration low-acuity monitoring remain key trends to improve the cost efficiency of patient monitoring solutions. Key companies are introducing advanced products, such as integrated remote monitoring solutions with added features of greater connectivity through cloud technology and WiFi.

For instance, Radius-7 Pulse Co-Oximeters by Masimo Corp., which got U.S. FDA approval in March 2020. It is a wearable patient monitor with flexible functionality of WiFi, Bluetooth, and alarms.

Related Press Release@ Multiparameter Patient Monitoring Systems Market Report

Multiparameter Patient Monitoring Systems Market Report Highlights

The portable segment is anticipated to grow at the fastest CAGR of 6.1% from 2020 to 2027 due to growing home healthcare and easy mobility across different departments within the hospital
The hospital end-use segment led the market in 2019 due to high demand for modern healthcare facilities
North America held the maximum share of the global market in 2019 due to the availability of technologically advanced equipment and high quality of healthcare system
Asia Pacific is estimated to be the fastest-growing regional market during the forecast years due to increasing awareness about technologically advanced monitoring systems

Europe Air Ambulance Services Market: Industry Demand, Analysis and Future Trends 2028

The Europe Air Ambulance Services Market size is expected to reach USD 9.8 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.2% from 2021 to 2028. Some of the key industries in this market include Aero Medical Ambulance Service, Aero-Dienst GmbH, Airlec Air Espace, European Air Ambulance. The surge in the prevalence of chronic diseases, the rising geriatric population, and increasing healthcare expenditure are key factors for driving the market.

Increasing government funding and initiatives to support air ambulance services in Europe, is stimulating market growth. For instance, recently in April 2021, Norway and the EU had planned to launch an air ambulance with a permanent base in Troms. As part of RescEU, this aircraft will be used to transport patients with severe infectious ailments across the EEA and the entire EU. The aircraft will be integrated into the National Air Ambulance Services of Norway when not used in European assignments. Moreover, Ambulancezorg Nederland (AZN), the national sector institute for ambulance care, provides support to 25 Regional Ambulance Services (RAVs).

COVID-19 pandemic has significantly impacted the market. An upsurge in demand for helicopter emergency medical services from hospitals, health insurance firms, assistance companies, and independent end-users is witnessed amidst COVID-19. Moreover, rising investments in the healthcare domain due to COVID-19 will further boost the market growth. For instance, in September 2020, the Norwegian Air Ambulance Foundation received a 5-bladed Airbus H145 helicopter. The helicopter will help deliver comfort, simplicity, and connectivity and increase the useful load by 150 kg. It has also obtained certification from the European Union Aviation Safety Agency.

Related Press Release@ Europe Air Ambulance Services Market Report

Europe Air Ambulance Services Market Report Highlights

In terms of type, the rotary-wing segment held the largest share in 2020, owing to the surge in demand for helicopter emergency medical services
In terms of model, the community-based segment is anticipated to a witness considerable growth rate over the forecast period, due to rising partnerships between private players and community health organizations
In Germany, the market is expected to witness the fastest growth over the forecast period owing to increasing healthcare expenditure

Artificial Disc Replacement Market by Medtronic, Orthofix Medical, Inc., Globus Medical, Aesculap, Inc.

The global Artificial Disc Replacement Market size is anticipated to reach USD 1.09 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 11.7% from 2021 to 2028. Some of the key industries in this market include Medtronic, Orthofix Medical, Inc., Globus Medical, Aesculap, Inc., NuVasive, Inc. The key factors driving the market growth include the rising number of spinal surgeries across the globe, the growing aging population, high demand for surgical alternatives with less tissue disruption, and technological advancements. The COVID-19 pandemic resulted in several challenges, such as logistical bottlenecks, low demand, and decreased sales & marketing activities.

This resulted from supply chain challenges, deferred or canceled elective procedures, and movement restrictions due to lockdowns. Zimmer Biomet, for instance, reported a negative impact of COVID-19 on its annual revenue for 2020. It reported a 12% decrease in its total revenues from 2019 to 2020. The company was also impacted by the postponed elective and semi-elective procedures that use Medtronic’s products. The reluctance of people for undergoing non-COVID-19 emergency procedures affected the company’s revenue.

The broader acceptance of surgical treatments along with less tissue disruption as well as patient trauma is expected to boost the growth of the market. Furthermore, market players are anticipating broader consolidation of vendors in the spine segment, which is also expected to provide opportunities in the market. This is further complemented by the rising number of technological advancements.

The market growth is also supported by the increasing number of clinical trials related to artificial discs by market players. For instance, Medtronic is sponsoring a clinical trial related to the Prestige LP Cervical Disc for treatment of the cervical degenerative disc disease, radiculopathy, and myelopathy. The study is expected to be completed by August 2022. Such activities provide various growth opportunities to the market.

Market players are investing in many strategic initiatives, such as acquisitions, mergers, partnerships, and product launches, among others to maintain a competitive edge in the market. For instance, in February 2021, NuVasive, Inc. acquired Simplify Medical, developer of the Simplify Cervical Artificial Disc for cervical total disc replacement.

Related Press Release@ Artificial Disc Replacement Market Report

Artificial Disc Replacement Market Report Highlights

The market was valued at USD 471.0 million in 2020 and is expected to grow at a CAGR of 11.7% during the forecast period
The rising prevalence of degenerative disc disease due to chronic back pain is increasing the number of spinal surgeries performed around the globe. This is one of the key factors driving the market growth
The metal + plastic material type segment led the market in 2020 owing to the wide usage of plastics for manufacturing artificial discs, while the metal segment held a significant share owing to rising research activities in the segment
The cervical disc replacement segment held the largest share of the market in 2020 owing to the high product availability
North America led the global market in 2020 accounting for a revenue share of more than 48.5% owing to the presence of major players in the region
Asia Pacific is expected to be the fastest-growing regional market from 2021 to 2028 owing to the rising awareness regarding spinal surgeries in the region