Healthcare Industry Insights

Wednesday, 15 March 2023

3D Printed Drugs Market Size is Predicted to Witness 15.3% CAGR till 2030

The global 3D Printed Drugs Market is expected to reach USD 269.74 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.32% from 2022 to 2030. The rising prevalence of chronic diseases, combined with the rising population of patients with dysphagia around the globe is pushing the demand for immediate soluble medications, which is likely to drive the market. For instance, according to a study published in April 2022, the prevalence of oropharyngeal dysphagia is high in conditions such as stroke and aging and is reported to be 26.19% in the elderly.

An increase in the aging population has led to the growing demand for the development of easy-to-swallow pills for the elderly. The 3D printed highly soluble and easy-to-swallow drugs can help the elderly who have difficulty swallowing. Moreover, according to the United Nations, the number of people aged 65 and more in 2050 is projected to be 1.5 billion. Thus, the growing elderly population across the world would propel the demand for easy-to-swallow drugs resulting in market growth.

Other factors such as quickly expanding demand for pharmaceuticals, technical improvements in healthcare, as well as the government's focus and expenditures in the 3D printing industry, are also contributing to the market's growth. For instance, in March 2022, Evonik Venture Capital invested in Nevada-based Laxxon Medical for the manufacturing of 3D-printed tablets. The latter company has developed a 3D screen-printing technology for the production of structured tablets with the controlled release of API over time. Such investments are likely to supplement the market growth in the coming years.

The COVID-19 pandemic is anticipated to positively impact market growth. Several printers have been launched by the operating companies in the advanced manufacturing industry to help increase the manufacturing of medications and other necessary products. As a result, the usage of these technologies is projected to increase during the COVID-19 pandemic.

The growing demand for personalized medicine is expected to majorly drive market growth in the coming years. As 3D printing of pharmaceutical drugs can produce personalized medicine in small batches with carefully tailored shapes, dosages, and sizes, the market is anticipated to grow at an exponential rate in the near future. In addition, the use of 3D printing technology can significantly reduce manufacturing costs thus, further increasing investments in this space.

On the other hand, adverse effects from these drugs, the use of 3D printing to create illegal drugs, and a lack of government restrictions for 3D printed products are limiting the market's growth. For instance, in March 2018, a police case was filed in Amsterdam, for the illegal handling of these drugs. However, increased awareness of the benefits of these medications, such as their immediate solubility, faster manufacturing time, reduced waste, and easy on-demand manufacturing is likely to create multiple prospects for market growth.

Related Press Release@ 3D Printed Drugs Market Report

3D Printed Drugs Market Report Highlights

By technology, the zip dose segment held the largest share of the 3D market. This is attributed to the increase in the requirement for rapid soluble drugs that disperse quickly in the mouth, which in turn is likely to increase the adoption and anticipate market growth.
The inkjet printer segment is expected to grow lucratively during the forecast period. Due to the 3D medications can be personalized to each patient's needs, assisting them far more than batch-produced medicines, their demand is expected to skyrocket in the coming years.
By application, the neurology segment held a larger share of the global market. This is attributed to an increase in the proportion of older people, which is at an increased risk of developing neurological disorders and hence, propelling the market growth.
By end-use, the hospitals & clinics segment held a larger share in 2021, owing to the growing demand for personalized medicines and the cost-effective use of bio-drugs employing this technology.
North America dominated the global market in 2021 due to the availability of technologically advanced healthcare research framework, the presence of high R&D investment, and the development of 3D printed drugs in the region.
The Asia Pacific is expected to grow considerably in the future owing to the rising prevalence of chronic diseases and the presence of key players.
A few of the key market players include 3D Printer Drug Machine, Aprecia Pharmaceuticals, BV LLC, Hewlett Packard Caribe, and others.

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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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Monday, 13 March 2023

Skin Excision Market: Industry Demand, Analysis and Future Trends 2030

The global Skin Excision Market size is expected to reach USD 59.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030. The market expansion of skin excision is primarily caused by the rising elderly population, rising obesity incidence, and rising aesthetic consciousness. The skin excision method has changed over a short period due to expanding demand, rising discretionary income, growing awareness, and adoption of cosmetic procedures, technological improvement in the devices used for surgeries, advancements in drugs and therapies, availability of qualified surgeons, and improved healthcare facilities.

Skin excision is a procedure in which excess skin is removal removed and people who lose a lot of weight through weight loss surgery or lifestyle changes opt for such treatment as their skin becomes loose and sags. There are various types of procedures for excess skin removal including Brachioplasty, Mastopexy, Rhytidectomy, Thigh lift, Neck Lift, Brow lift, Abdominoplasty, etc. These procedures are carried out at hospitals and clinics where board-certified surgeons perform such skin excision procedures.

People have become more conscious about their personalities and appearances with major influence from social media. To overcome body flaws because of aging, pregnancy, heredity, or high BMI, people opt for reconstructive surgeries. The ratio of females appearing for surgery seems to be higher than males. For instance, according to ISAPS report 2020, 92.0% of the total procedures of abdominoplasty (Tummy Tuck) were performed on females which were approximately 703,778 in number.

The demand for skin excision procedures shrank in 2020 due to the outbreak of COVID as global restrictions and lockdown were imposed in most countries initially, and many non-cosmetic surgical procedures were halted. However, ISAPS reported, that the willingness to opt for invasive as well as non-invasive treatments globally has increased post-pandemic.

Related Press Release@ Skin Excision Market Report

Skin Excision Market Report Highlights

By procedure type, the mastopexy segment held the largest revenue share in 2021 and is expected to witness a lucrative CAGR of over 9.4% from 2022 to 2030
Based on end-use, the clinics' segment dominated the market in 2021. The segment is expected to continue its dominance throughout the forecast period owing to the high preference for advanced devices and personalized services
North America dominated the market in 2021. The availability of experienced surgeons and high adoption rates for advanced technology are the factors that can be attributable to the high segment share
In the Asia Pacific, the market is expected to grow at a high rate during the forecast period during to the high awareness and adoption of cosmetic treatments

Friday, 10 March 2023

Companion Animal Arthritis Market Worth $5.18 Billion By 2030

The global Companion Animal Arthritis Market size is expected to reach USD 5.18 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2022 to 2030. The key drivers for the market are the increasing prevalence of osteoarthritis in companion animals due to their longer life duration and the vulnerability of older pets to get degenerative joint diseases owing to their cartilage weakness. As per a study published in 2019 in the International Journal of Science, Environment, and Technology, the incidence of osteoarthritis was found to be more common among the 5-10 years old dog population. The study also reported that male dogs are more prone to arthritis compared to female dogs.

The COVID-19 pandemic created barriers and challenges in the global companion animal health industry that include decreased marketing and sales activities, low veterinary clinic admission, cancellation of routine pet check-ups, and a low number of arthritis surgery performed in veterinary hospitals. However, the governments and veterinary organizations of various countries implemented strategies and safety measures to resume veterinary practices during the pandemic. According to the American Veterinary Medical Association, telemedicine services were widely incorporated in veterinary clinics and hospitals to curb the impact of lockdowns.

The increasing pet care expenditure in both developing and developed economies is a significant opportunity considered for market growth. According to the American Kennel Club (AKC), pet owners in the U.S. were seen to spend more money on their pet’s wellness and related healthcare products. The American Pet Products Association reported that the overall pet industry sale exceeded USD 100 billion by the end of 2020. The AKC also stated that online veterinary product shopping increased by 86% after the emergence of the pandemic. The trend of owning popular breeds of dogs also enhanced the required routine veterinary care services among them. These factors are expected to boost the growth of the market.

Related Press Release@ Companion Animal Arthritis Market Report

Companion Animal Arthritis Market Report Highlights

By animal type, the dogs' segment dominated the market in 2021. This is owing to the high prevalence of osteoarthritis among dog species because of factors such as aging, joint disorders, accidents, obesity, diabetes, and old injuries
Based on treatment, the medication segment dominated the market in 2021 with a share of over 55.0%. This is owing to the growing research and development activities in veterinary medicines, coupled with a large number of NSAID launches for arthritis treatment in companion animals. Novel treatment options such as monoclonal antibodies, oil-infused collars to alleviate pain, etc. are gaining more attention in the market
Based on indication, the osteoarthritis segment is expected to register a lucrative growth rate over the forecast period owing to the increasing prevalence of the condition, coupled with the growing awareness among pet parents regarding it. According to the Morris Animal Foundation, nearly 14 million dogs in the U.S. are suffering from osteoarthritis
By distribution channel, the veterinary hospitals and clinics segment held the largest revenue share of over 30.0% in 2021. This is owing to the growing number of veterinary practices with better infrastructure facilities. Developing countries such as India, Japan, and China are recruiting a significant number of trained and licensed veterinarians for better animal healthcare
North America dominated the market with a share of over 30.0% in 2021. The Asia Pacific market is anticipated to grow at the fastest rate over the forecast period. The economic, social, and technological advancements in the North American region are boosting the development of veterinary care in its countries
The market is relatively competitive owing to the presence of major animal health players such as Zoetis, Elanco, and Virbac. The various strategic initiatives implemented by companies such as collaborations, acquisitions, partnerships, and product launches are greatly contributing to the growth of the market

Heparin Market by GlaxoSmithKline plc; Pfizer, Inc.; LEO Pharma A/S; Sanofi; Dr. Reddy’s Laboratories Ltd.; Aspen Holdings

The global Heparin Market size is expected to reach USD 9.04 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.5% from 2022 to 2030. The increasing geriatric population and heightened demand for transfusions are key factors propelling the market growth. Moreover, the outbreak of COVID-19 has further propelled the market growth. For instance, as per The Lancet Journal in 2022, the demand for heparin exacerbated attributable to its use in COVID-19 patients for thromboprophylaxis.

Increasing demand for blood components, transfusion, and plasma derivatives in the treatment of infectious diseases is expected to drive the market. For instance, according to American Red Cross in 2022, around 16 million blood components are transfused each year in the U.S. Furthermore, the surge in the number of surgeries that were delayed due to the COVID-19 pandemic has further escalated the demand for heparin for blood-clot prevention.

The growing geriatric population is estimated to fuel the market growth. According to United Nations, it was estimated that, in 2020, there were around 727 million people with ages above 60 years worldwide. In addition, the percentage share of the aged population above 65 years is estimated to increase from 9.3% in 2020 to 16% in 2050. The geriatric population has a higher rate of complex surgeries and thus is anticipated to propel the demand for heparin as an anticoagulant, as this population has a significantly higher rate of developing blood clots and related conditions such as deep vein thrombosis.

The growing number of surgeries is a key factor accelerating the demand for whole blood and transfusions. For instance, the annual number of major surgeries performed globally has reached 310 million, 40 to 50 million surgeries performed in the U.S., and around 20 million were performed in Europe in 2020. These surgeries are projected to escalate the demand for heparin.

The competitive rivalry in the marketplace is expected to be moderate due to changing dynamics towards oral anticoagulants. The involvement of players in discovering novel routes of administration for anticoagulants such as heparin is expected to change the market scenario over the forecast period. The rising number of players offering generics also increases competitive rivalry.

Related Press Release@ Heparin Market Report

Heparin Market Report Highlights

The Low Molecular Weight Heparin (LMWH) segment held the largest revenue share in 2022 owing to its high prescription rate and demand
The subcutaneous route of administration segment held the largest revenue share in 2022 owing to its cost-effective nature and easier procedure for administration
The coronary artery disease segment dominated the market in 2022 owing to the rising incidence of coronary artery disease and increased use of heparin injection in hospitalized patients
The outpatient segment is expected to hold the largest revenue share in 2022 owing to the initiatives undertaken by hospitals for outpatient services and the increased preference of patients for outpatient treatment
Porcine-derived heparin is expected to dominate the market due to its use in the production of low molecular weight heparin
Asia Pacific is expected to exhibit the fastest growth over the forecast period due to the growing establishment of healthcare, and a large population base

Thursday, 9 March 2023

Non-steroidal Anti-inflammatory Drugs Market Size is Predicted to Witness 5.36% CAGR till 2030

The global Non-Steroidal Anti-Inflammatory Drugs Market is expected to reach USD 31.29 billion by 2030, expanding at a CAGR of 5.36% during the forecast period, according to a new report by Grand View Research, Inc. Nonsteroidal anti-inflammatory drugs are drugs that are primarily used to relieve inflammation and pain, as well as to lower elevated body temperature. The high prescription rate of non-steroidal anti-inflammatory drugs (NSAIDs) for relief of symptoms of painful periods, headaches, fever, arthritis, sprains, strains, and other types of chronic pain is expected to drive the market during the forecast period.

The non-steroidal anti-inflammatory drugs market is expected to witness growth opportunities owing to factors such as the rising prevalence of targeted diseases and chronic pain across the globe, coupled with the high prevalence of these diseases in the geriatric population. Moreover, increasing demand for OTC NSAIDs and the rising adoption of NSAIDs for headaches, migraines, and menstrual pain are also expected to boost the growth during the forecast period.

Moreover, the increasing prevalence of arthritis and other pain-related disorders is also expected to support the growth. For instance, the prevalence of osteoarthritis is higher in the UK, France, and Germany compared to other countries in the Europe region. The prevalence of arthritis is seen to be lower in people who are often engaged in physical activities, and its prevalence rises with age. Thus, the rising prevalence of arthritis is also expected to cater to the growth during the forecast period.

Key market players are adopting strategic initiatives such as geographical expansion and the introduction of combination non-steroidal anti-inflammatory drugs to increase their market share across the globe. For instance, Alkem Labs and Dr. Reddy’s Laboratories Ltd have launched their non-steroidal anti-inflammatory drugs in the U.S. Moreover, increasing approval of OTC drugs for pain management and other inflammatory diseases is expected to drive growth during the forecast period. Thus, owing to the various strategies adopted by key players, the market is likely to boost its growth.

Governments in various regions are undertaking favorable initiatives to reduce the burden of migraine, arthritis, and other diseases in their countries. For instance, the National Institutes of Health has initiated HEAL to accelerate research activities to improve the management of pain and inflammatory diseases. Moreover, the Patient-Centered Outcomes Research Institute has undertaken initiatives to introduce non-opioid treatment options for pain. Such initiatives are expected to increase growth during the forecast period.

Related Press Release@ Non-steroidal Anti-inflammatory Drugs Market Report

Non-steroidal Anti-inflammatory Drugs Market Report Highlights

In 2021, the arthritis segment dominated the NSAIDs market owing to the higher prevalence of arthritis across the globe
The retail pharmacy segment held the largest share and is anticipated to maintain its dominance during the forecast period
Asia Pacific region is expected to witness the highest CAGR during the forecast period owing to factors such as the high prevalence of pain and related disorders, the high pool of patients, and a rising geriatric population across the region
North America dominated the market in 2021 due to the higher prevalence of arthritis, the presence of leading market players, and increased research activities within the region

Wednesday, 8 March 2023

Hydrocolloid Dressing Market Size Worth $2.04 Billion By 2030

The global Hydrocolloid Dressing Market size is anticipated to reach USD 2.04 billion by 2030, registering a CAGR of 4.99% over the forecast period, according to a new report by Grand View Research, Inc. Increasing prevalence of chronic and acute wounds, rapidly aging population, rising number of diabetic patients, and surge in research and development activities are among the major factors driving the market growth. The rising prevalence of chronic wounds, such as diabetic foot ulcers and pressure ulcers, among the general population is likely to increase the number of patients getting treatment and fuel the adoption of hydrocolloid dressings.

Furthermore, the rising prevalence of acute wounds, such as surgical wounds and burns, is further expected to drive the demand for hydrocolloid wound dressings throughout the projected period. Surgical wounds, for example, are a major problem in general healthcare, according to the Wound Healing Society (WHS). Despite all attempts, Surgical Site Infections (SSI) cause death in 75% of patients globally. As a result, the increased incidence of infections has imposed a significant cost burden on the healthcare business. This is likely to contribute to the launch of advanced products, thus fostering market growth. Clinical uses for several hydrocolloid materials have been proposed in recent years.

Related Press Release@ Hydrocolloid Dressing Market Report

Hydrocolloid Dressing Market Report Highlights

The chronic wound application segment is estimated to dominate the market during the forecast period
On the basis of end-uses, the hospital segment dominated the market in 2021. The segment’s dominance is attributed to the increasing number of patient admissions for wound injuries and the developing healthcare infrastructure
North America dominated the marketin 2021 owing to the strong presence of key players and high healthcare expenditure
Extensive research is now being conducted to study the effectiveness of hydrocolloid dressings. Companies are extensively spending on R&D and are always working on achieving excellent clinical trial outcomes
For instance, in January 2021, a clinical trial, “Effect of Evidence-based Skin Care & Hydrocolloid Dressing in the Prevention of Nasogastric-related Pressure Injury”, was conducted, which was sponsored by MAIDE YESILYURT, Necmettin Erbakan University
Thus, robust clinical studies to commercialize innovative hydrocolloid dressing products are expected to drive the growth of the market during the projected period

Oral Rinse Market: Industry Demand, Analysis and Future Trends 2030

The global Oral Rinse Market size is expected to reach USD 11.9 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.1% from 2022 to 2030. The increasing cases of dental diseases and growing awareness regarding dental hygiene are expected to fuel the market growth. As per the WHO (World Health Organization) fact sheet 2022, oral diseases have affected around 3.5 billion people globally. Dental caries, oral cancer, and periodontal diseases are common dental diseases that affect people throughout their life. The lack of appropriate oral care facilities in developing countries and unequal distribution of oral care professionals to meet the need of the population are the major factors responsible for the growth of oral diseases.

The COVID-19 pandemic has impacted the supply chain of the products and consumer buying behavior due to the lockdown, which has shifted the buying behavior from offline to online channels. The pandemic has increased the requirement for oral care products such as mouthwash, oral spray, and antibacterial bristles for maintaining oral hygiene. The major market players such as Colgate and Johnson & Johnson have witnessed an increase in the sale of oral care products due to the rising awareness regarding maintaining oral hygiene.

Dental awareness is necessary to help people to invest in their oral hygiene. Various campaigns are also initiated by the government and market players to maintain the market share. For instance, Pepsodent launched Brush with Me campaign for promoting brushing teeth twice a day. Similarly, oral bacteria which can lead to plaque build-up or gum disease can be eliminated by mouthwashes. Advancements in mouthwash production such as Rutgers School of Dental Medicine have discovered different types of mouthwash that can help in preventing the COVID-19 virus in laboratory settings and avoiding it from replicating in a human cell.

Related Press Release@ Oral Rinse Market Report

Oral Rinse Market Report Highlights

In terms of product, antiseptic mouthwash emerged as the largest segment in 2021 as it is ideal for providing both fresh breath and killing germs and bacteria
Based on indication, the periodontitis segment accounted for the largest revenue share in 2021 owing to poor oral hygiene and uncontrolled bacteria from dental plaque
By distribution channel, the online stores segment is estimated to register the fastest CAGR over the forecast period owing to a large number of products with better prices
North America dominated the market in 2021 due to the higher adoption rate and awareness regarding using mouthwash products