Healthcare Industry Insights

Friday, 2 September 2022

Biobanks Market Size Worth $100.8 Billion By 2030

The global Biobanks Market size is expected to reach USD 100.8 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 4.6% during the forecast period. Biobanks continue to evolve with the introduction of new technologies, such as NGS, and increased focus on genomic medicine. The availability of several types of biospecimens to cater to multiple domains including drug discovery, diagnostics, and others has accelerated the diversification of biorepositories, thereby driving the market. The quality of biospecimens can significantly influence disease testing as well as preclinical and clinical research. Regulatory agencies have played a vital role in spurring the adoption of biobanking services by establishing guidelines for the effective management of samples.

For instance, the U.S. Centers for Disease Control and Prevention (CDC) released guidelines to minimize human hazards while handling COVID-19 samples. This serves as a model for other biorepositories. Furthermore, as the number of research studies and clinical trials related to COVID-19 is increasing, the demand for high-quality biospecimens is expected to significantly increase in the near future, leading to market growth. In addition, population-based cohort studies are facilitated by biorepositories to estimate the actual seroprevalence. Health Catalyst, Inc., through its Touchstone platform, provides national data related to COVID-19 insights. Such factors are anticipated to contribute to the revenue flow in this space.

The ‘BioResource’ was created in October 2021 by RareCan, a Hexham-based healthcare start-up dedicated to improving studies into the uncommon forms of cancer. BioResource will retain samples taken after surgery from cancer patients and make them accessible to researchers across the globe who can use them to cure, prevent, and identify the disease. In December 2021, Newcastle University introduced a new collection of human blood samples and donated human tissue, which could transform efforts to cure rare cancers. The U.K. Biobank has announced that fresh data from a study measuring the range of circulatory metabolomics biomarkers has been added to its database. Nightingale Health, a Finnish business specializing in blood biomarker technologies, conducted the study with 120000 participants.

North America dominated the market with its wide network of centers for biosample storage in the U.S. Moreover, a high number of COVID-19 cases in the U.S. and increased R&D programs have resulted in the establishment of new biorepositories, thereby driving revenue in North America. In Asia Pacific, the market is anticipated to register the fastest growth owing to the ever-expanding pharmaceuticals and clinical research domain across the Asian countries. The key players are engaged in expanding their global reach by partnering with global distributors, mergers, and acquisitions of other players, and entering a strategic alliance with research communities.

Related Press Release@ Biobanks Market Report

Biobanks Market Report Highlights

The biobanking equipment segment accounted for the maximum revenue share in 2021 owing to the high cost of instruments coupled with an increase in the number of biorepositories
The biobanking and repository services segment accounted for the largest revenue share in 2021 due to the higher penetration of these services and the increased need for the preservation of biosamples for developing precision medicine and disease-specific research
Human tissues are the most stored sample for clinical research, resulting in the dominance of this sample type in the market
The virtual biobanks segment is anticipated to witness the fastest CAGR over the forecast period owing to the growing demand for 3D biospecimens coupled with the need for rare disease data for biomedical research
The therapeutics application segment accounted for the largest revenue share in 2021 owing to the growing popularity of cell therapies for cancer treatment
Several pharma/biotech companies have established their private banks to support clinical trials and the development of cell therapies, resulting in revenue growth in this segment

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

Thursday, 1 September 2022

Immunoassay Market Worth $45.1 Billion By 2030 | CAGR: 5.2%

The global Immunoassay Market size is expected to reach USD 45.1 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.2% from 2022 to 2030. The introduction of PoC rapid tests and automated immunoassay analyzers is boosting the market growth. In addition, the rising number of chronic and infectious diseases is leading to high market growth.

According to the American Cancer Society, there were an estimated 16.9 million cancer patients/survivors in 2020. Around 1.8 million cancer cases were diagnosed in the U.S., according to the National Cancer Institute 2019 data. According to the American Cancer Society, nearly 606,880 deaths occurred due to cancer in the U.S. in 2019. Thus, the rise in the number of cancer cases being diagnosed is driving the demand for immunoassays. This is expected to boost the market growth in the coming years.

Furthermore, growing awareness regarding infectious diseases and preventive measures has led to a high demand for rapid diagnostic test products, thereby increasing sales. Based on a survey by the WHO on the World malaria report 2018, manufacturers reported sales of 276 million for lateral flow assays in 2017. It also reported that around 75.0% of malaria cases were diagnosed using lateral flow assays in sub-Saharan Africa in 2017.

Several smartphone-based devices and associated tools have emerged as next-generation point-of-care diagnostics or testing devices, thereby boosting the market growth. For instance, a smartphone application combined with the autonomous capillary microfluidic chip is used for the rapid testing of cardiac troponin I in myocardial infarction. This platform can be easily used in resource-limited settings, providing test results within 12 minutes. Thus, novel technological advancements are anticipated to further drive the market over the forecast period.

The first implementation of the Atellica immunoassay solutions with Aptio automation in the United States was announced by Siemens Healthcare GmbH in April 2018. The objective of this product was designed to promote advanced technological products in the U.S. In December 2020, Beckman Coulter, a Danaher business, introduced its first high-quality as well as throughput assay for the COVID-19 antigen detection, officially named Access SARS-CoV-2 Antigen assay. In July 2018, Cygnus Technologies and Gyros Protein Technologies collaborated to produce immunoassay to identify biotherapeutic toxins. The two companies' strategic alliance will primarily focus on offering bioanalytical solutions and increasing biotherapeutics manufacturing efficiencies.

Related Press Release@ Immunoassay Market Report

Immunoassay Market Report Highlights

In 2021, the Enzyme Immunoassays (EIA) technology segment held the largest revenue share as this technique is used for detecting specific antigens or antibodies in samples. This technique aids in the precise detection of chronic and infectious diseases
The rapid test technology segment held a significant revenue share in 2021 due to the rise in demand for early diagnosis
The infectious disease testing application segment dominated the market in 2021 due to the rise in the incidence of infectious diseases such as HIV, malaria, influenza, and the novel COVID-19
The clinical laboratories end-use segment is anticipated to grow at a rapid pace over the forecast period owing to the increasing establishment of diagnostic labs in key regions and the large number of tests being conducted by them
North America accounted for the largest revenue share in 2021. Well-established healthcare infrastructure and the easy availability of technologically advanced instruments in the U.S. are some of the leading factors fueling the growth of this regional market

Malaria Diagnostics Market Size is Estimated to Witness 5.4% CAGR till 2030

The global Malaria Diagnostics Market size is projected to reach USD 1.2 billion by 2030, expanding at a CAGR of 5.4%, according to a new report by Grand View Research, Inc. Rising prevalence of the tropical disease in endemic countries, development of novel diagnostic techniques, and rising investments by regional governments and private investors are expected to propel market growth. Malaria is one of the most widespread life-threatening diseases, commonly occurring in the tropical and subtropical regions due to changing climate, low economic growth, underdeveloped healthcare infrastructure, and lack of access to advanced treatment.

Increasing number of government initiatives and investments by market participants are also anticipated to fuel market growth in the near future. Use of antimalarial treatments options that were abundantly available in the African region were used for the management and control of spread during the COVID-19 pandemic. The market noticed a significant boost during the COVID-19 outbreak owing to the ever-increasing malaria cases in addition to the COVID-19 virus.

A large number of malarial elimination programs are being undertaken by major companies to reduce the disease prevalence. For instance, Novartis’s Malaria Initiative was aimed at facilitating malaria elimination and control. Along with various organizations, the company has provided non-profit treatment to 750 million people across 60 countries. Thus, such initiatives are anticipated to facilitate the development of novel technologies and aid in market penetration.

Related Press Release@ Malaria Diagnostics Market Report

Malaria Diagnostics Market Report Highlights

Conventional usage of microscopic examination for detection of malarial parasite has driven the microscopy technology segment
RDTs are anticipated to account for the largest revenue share owing to ease of usage, convenience, and rapid diagnosis
The molecular diagnostic tests segment is projected to be the fastest-growing technology segment during the forecast period owing to their accuracy and capability of detecting low parasite count
Africa led the market in 2021 due to high disease incidence and increased adoption of various malarial diagnostic techniques in the region
Southeast Asia also held a considerable revenue share in 2018 owing to high disease reoccurrence and initiatives undertaken to curb malarial incidence

Cannabis Cultivation Market Size Worth $1,844.1 Billion By 2030

The global Cannabis Cultivation Market size is expected to reach USD 1,844.1 billion, expanding at a CAGR of 21.4% from 2022 to 2030, according to a new report by Grand View Research, Inc., Growing legalization and adoption of cannabis for the treatment of chronic diseases is positively impacting the market growth. Furthermore, the liberalization of laws related to hemp and marijuana by various countries is further bolstering revenue growth in the forecast period.

Furthermore, while the authorities imposed lockdown measures during COVID-19, European consumers hoarded supplies. Between January and March 2020, the value of items sold on Cannazon, a platform for hemp products, reached roughly USD 5.04 million reflecting a volume of 1.6 metric tonnes. In the U.S., a similar increase in sales was observed, with people stockpiling in anticipation of government-mandated shelters. As a result, increased stocks and strong consumer demand, as well as a growth in areas recognizing the product as a necessary commodity for recreational and medical uses, are projected to fuel market expansion throughout the forecast period.

Based on biomass, the hemp segment dominated the market in 2021. Factors contributing to increasing demand include the increasing adoption of hemp and derived products and its growing acceptance among the users due to its low THC content. It is mainly used by people who intend to reap the medical benefits of the plant without getting intoxicated. In addition, positive government reforms regarding the utilization of hemp in many countries are further propelling market growth.

In 2021, the industrial consumption segment accounted for the highest revenue share. This growth is attributed to the growing application of marijuana and hemp in various industries such as pharmaceuticals, personal care and cosmetics, nutraceuticals, and food and beverages. In addition, the growing usage of cannabis and its derivatives as raw material by companies to produce their products is further fueling the growth. For instance, CBD oil and tinctures obtained from the plant are used by pharmaceutical companies for the production of cannabis-infused drugs. Hence, its consumption for various applications boosts the overall growth of the market.

The Asia Pacific is expected to expand at the fastest CAGR in the forecast period owing to the presence of the largest cultivation markets in the region such as China, South Korea, India, and Australia. Furthermore, favorable climatic conditions, increasing awareness about the plant and its medical benefits, and a growing patient pool eligible for medical marijuana treatments are the other factors boosting the growth of the market in the region.

Related Press Release@ Cannabis Cultivation Market Report

Cannabis Cultivation Market Report Highlights

The market is anticipated to witness significant growth owing to the growing legalization and adoption of the hemp and marijuana for the treatment of chronic diseases
The hemp segment dominated the market in 2021, owing to the increasing adoption of hemp and derived products due to low THC content
Industrial consumption segment dominated the market in 2021, owing to the growing application of marijuana and hemp in various industries
In May 2022, Aurora Cannabis Inc. has concluded the purchase of TerraFarma Inc., which will contribute to their Canadian recreational cannabis company and Aurora's worldwide expertise in the cannabis market.
In March 2022, HEXO and Tilray Brands Collaborate to Form Strategic Alliance, Uniting Two Canadian Cannabis Industry Leaders
In December 2021, As part of its continuous development plan, the Company purchased Quebec-based Laurentian Holdings Inc., boosting its presence in Quebec's second most populated province.

Excipients Market Future Trends, Revenue Growth & Leading Players, Forecast To 2030

The global Excipients Market size is expected to reach USD 9.37 billion by 2030, expanding at a CAGR of 6.0% for the forecast period from 2022 to 2030, according to a new report by Grand View Research, Inc. Globally increasing reach of generic medicines has been a major factor driving market growth. In addition, rising demand for newer excipients owing to the advantages of drug delivery and stability has led to the growth of the market.

Excipients are essential components for the improvement of overall pharmaceutical activity and performance, both of which directly impact the characteristics of pharmaceutical formulations. An excipient in the right proportion can improve the shelf life and bioavailability of a formulation. These can also be used in drug delivery mechanisms such as sustained release and rapid release drugs.

Polymers were the largest product category in 2021 based on revenue and volume and are expected to maintain a comparatively moderate growth rate over the forecast period. Microcrystalline cellulose was the leading polymer in this category, accounting for a share of over 26.0% in 2021.

Sugars are expected to observe the fastest growth over the coming years, exhibiting an estimated CAGR of 6.9% from 2022 to 2030. Sugars can play an instrumental role in increasing solubility, taste masking, dissolution, and drug delivery, which can drive its market.

The Market is significantly driven by the increasing demand for pharmaceutical products due to the COVID-10 virus outbreak. The development of the COVID-19 vaccine was one of the major drivers for this market growth. Many key organizations capitalized on the opportunities that arose during the pandemic and witnessed significant growth.

Related Press Release@ Excipients Market Report

Excipients Market Report Highlights

The global excipients demand exceeded 776,000 tons in 2021 and is expected to grow at a moderate rate from 2022 to 2030
Owing to high market demand, polymer excipients accounted for the largest revenue share in 2021 and the segment can be anticipated to dominate the market for the coming years as well
The global demand for sugars excipients was valued at over USD 1.85 billion in 2021 and is anticipated to witness significant growth over the coming years
The Europe polymers market was pegged at 230,500 tons in 2021 and is estimated to reach a total volume of over 328,000 tons by 2030
The market in Asia Pacific is projected to witness substantial growth over the course of the forecast period thanks to several development projects undertaken across major economies, especially in newer excipients markets. The regional market is expected to register a CAGR of 6.6% from 2022 to 2030

Tuesday, 30 August 2022

Dental Bone Grafts And Substitutes Market $1.42 Billion By 2030

The global Dental Bone Grafts And Substitutes Market size is expected to reach USD 1.42 billion by 2030, registering a CAGR of 9.4% from 2022 to 2030, according to a new report by Grand View Research, Inc. The increasing number of dental implant surgeries, the growing target population, technological advancement in synthetic bone grafts, and new product launches are the major growth propelling factors for the market.

According to the Population Reference Bureau 2018 statistics, by 2050, from 13 countries to around 82 countries across the world are anticipated to have more than 20% of the geriatric population (65 years and above). Thus, perpetual growth in the population aged 60 years and above is anticipated to result in an increased prevalence of periodontal diseases. These aforementioned factors are driving the market.

Moreover, the rising adoption of synthetic bone grafts over autografts and allografts due to advantages such as lesser chances of disease transmission, and better acceptance is further propelling the market. Moreover, growing medical tourism in developing countries, as well as a growing number of periodontists and oral surgeons, are some other factors propelling growth. Countries such as South Korea, India, and Turkey are constantly gaining popularity in dental tourism due to cheaper costs and advanced treatment options.

The onset of the pandemic significantly affected the sales of dental bone graft products as almost all the dental services were halted for a major part of 2020. However, as control measures and vaccines were effectively introduced globally, essential dental treatments and sales of dental products rose to assist in a significant recovery. Many key players in the market have reported high growth for their dental implants and biomaterial products in 2021.

Related Press Release@ Dental Bone Grafts And Substitutes Market Report

Dental Bone Grafts And Substitutes Market Highlights

The synthetic segment is expected to show lucrative growth over the forecast period owing to its better acceptance and lower chance of disease transmission
Socket preservation held the largest share as of 2021 owing to the increasing number of dental implant surgeries and growing concern regarding dental health
The dental clinic segment is expected to show lucrative growth in the forecast period. This is due to the availability of surgeons and advanced treatment options
The Asia Pacific is expected to emerge as the fastest-growing region in this space owing to increase medical tourism and disposable income. Moreover, North America held the largest revenue share due to the increased number of dental implant surgeries in this region

Inhalation Anesthesia Market Size Worth $2.4 Billion By 2030

The global Inhalation Anesthesia Market size is expected to reach USD 2.4 billion by 2030 and is expected to expand at a CAGR of 9.0% in the forecast period, from 2022 to 2030, according to a new report by Grand View Research, Inc. Inhalation anesthetics offer shorter induction period and recovery time along with better efficacy and lesser adverse effects as compared to other alternatives, thus providing better anesthetic effect during surgical procedures. They also provide excellent control over the duration of anesthesia in the patient. Thus, inhalation anesthesia is being preferred over intravenous anesthesia due to these advantages.

Drugs administered through inhalation anesthesia have a quick onset of action even at low dose as compared to intravenous anesthesia. Using inhalation route for administration helps avoid excessive dosage and keeps the patient’s autonomic functions intact. As these drugs are eliminated via lungs, they have lower chances of accumulation in the body. Hence, they result in lower risk of hepatotoxicity. In addition, drugs administered through inhalation route have limited tolerance and addiction level as compared to other alternatives routes.

With the launch of innovative respiratory products such as AnaConDa (Anaesthetic Conserving Device), administration of inhalation general anesthetic agents such as sevoflurane, isoflurane, & other agents have become easier. Inhalation anesthesia is considered to be the best alternative for patients who are on ventilation for more than 24 hours as it becomes easy to monitor the patient’s health.

Major concern associated with anesthetic gas is that only 5% account for patient use and the rest 95% is released in the atmosphere, which leads to greenhouse effect of these gases. The comparative analysis of sevoflurane, isoflurane, and desflurane based on atmospheric time span and global atmospheric concentrations indicates that desflurane poses a high potential threat for environment.

Related Press Release@ Inhalation Anesthesia Market Report

Inhalation Anesthesia Market Report Highlights

Sevoflurane held the largest market share in 2021 due to the fact that its pharmacokinetics and pharmacodynamics leads to many advantages over other alternate inhaled anesthetic agents available.
Desflurane, alone or in combination with nitrous oxide or other inhalation anesthetic agents is used in various surgical procedures owing to its rapid onset of action and elimination rate; therefore, driving the segment demand.
There have been many complications reported with halothane, for instance, halothane-induced hepatitis; therefore, this anesthetic agent has been discontinued in the majority of the western countries.
North America dominated the market in 2021 due to the high demand for sevoflurane and desflurane in the region. Key companies are also undertaking various strategic initiatives that has led to their high revenue growth in the U.S.
China is the largest economy in Asia Pacific. It is a country with the maximum population in the world, hence having a large patient pool for surgeries. A large number of surgeries being performed along with the presence of a large patient pool is anticipated to boost the market over the forecast period.

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