Healthcare Industry Insights

Friday, 31 March 2023

Protein Engineering Market Size Worth $7.62 Billion By 2030

The global Protein Engineering Market size is expected to reach USD 7.62 billion by 2030, registering a CAGR of 16.60% during the forecast period, according to a new report by Grand View Research, Inc. One of the key factors fueling the industry’s growth is the rising demand for non-chemical medicinal alternatives for the treatment of chronic diseases globally. Furthermore, due to the favorable clinical outcomes connected to protein-based treatments, these therapeutics are now preferred over conventional synthesized pharmaceuticals, which is expected to accelerate market growth. The rising number of government activities, such as funding research and advancement for engineering novel therapeutics further influence the industry growth.

In addition, the market is positively impacted by improvements in healthcare infrastructure, an increase in healthcare spending, growth in the geriatric population, and an increase in investments in health-related research & development globally. Furthermore, key companies are expected to have profitable opportunities due to the growth in technological advancements in the protein engineering field. For instance, in February 2022, Tierra Biosciences unveiled the Tierra Protein Platform, an e-commerce platform that enables consumers to receive unique protein engineering products manufactured, verified, and dispatched to them in only a few clicks.

The platform offered by Tierra offers a quicker and more practical alternative to conventional approaches for finding thousands of proteins for use in R&D. The COVID-19 pandemic has boosted the industry growth due to applications of protein engineering in the production of COVID-19 vaccines and diagnostics. A bioluminescent diagnostic kit, for instance, was developed in July 2021 by scientists at the Eindhoven University of Technology in Germany. It can be utilized to determine whether an individual’s immune system is producing antibodies in reaction to the coronavirus. Similarly, it is anticipated that the market will witness substantial growth during the forecast period as a result of the rising R&D efforts for engineering COVID-19 treatments.

Related Press Release@ Protein Engineering Market Report

Protein Engineering Market Report Highlights

The instruments product segment accounted for the highest market share in 2022. High demand for efficient and high throughput instruments for chromatographic analysis in protein engineering applications is driving the segment
The rational protein design technology segment accounted for the largest share in 2022. Protein remodeling engineering is an emerging and important application of rational design and serves as a major factor contributing to the growth of the segment due to its highly reliable and rapid processing attributes
The monoclonal antibodies protein type segment held the largest share in 2022. Monoclonal bodies find applications in the treatment of autoimmune disorders and with the rising prevalence of such diseases, the segment is anticipated to witness a rapid growth
The pharmaceutical and biotechnology companies end-use segment held the largest share in 2022. Rising R&D expenditure by biotechnology and pharmaceutical firms and increasing government funding and support for engineering advanced therapies are boosting the segment growth
North America accounted for the largest share in 2022 due to the rising use of biological medications for the treatment of chronic diseases, as well as rising funding opportunities in the region for R&D activities

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Vacuum Blood Collection Tube Market – Industry Insights by Application and End-use

The global Vacuum Blood Collection Tube Market size is projected to reach USD 3.20 billion by 2030, registering a CAGR of 3.02% during the forecast period, according to a new report by Grand View Research, Inc. Increasing prevalence of chronic and infectious diseases, a growing number of blood transfusions, coupled with rising hematological disorders are boosting the adoption of blood collection tubes. In addition, frequent disease outbreaks in endemic areas are anticipated to increase the demand for blood collection tubes for clinical diagnostics. The market is anticipated to witness rapid growth owing to the factors, such as the growing need for the identification of infectious agents, cancer biomarkers, cardiovascular diseases, women’s health issues, and substance abuse.

A blood test is performed for numerous indications, such as infection, anemia, hypokalemia, leukemia, and kidney function. Lab diagnostics, relying on diagnostic tests to commence the treatment of any disease condition, has played a substantial role in the demand growth of the tubes. In addition, contagious diseases have made the most important impact on any cause of hospital admissions. Currently, emerging and re-emerging infectious diseases are presenting public health danger. For instance, as per the WHO, almost 1.2 million people in the U.S. have HIV. Vacuum tubes are used routinely for the collection of blood specimens in laboratory diagnostics, globally. They have numerous advantages over the traditional method of drawing blood with the use of syringes as the closed vacuum tube assures phlebotomist safety and clean specimens due to minimal transferring and touching.

They are safer and easier to use and come with pre-added additives. The stopper's color coding is common, which makes it effortless to communicate and understand the medical community. Moreover, it also permits many tubes to be filled in one sitting; thereby lowering the chance of hemolysis. Vacutainers have other advantages as well, such as increased proficiency in diagnostic tests, shortened time of blood draws, and reduced needlestick injuries & risk of contamination. The COVID-19 pandemic has had a positive impact on industry growth owing to the increased government support for exploring the possibilities of allowing laboratories to enhance the blood testing process. However, since the beginning of the pandemic, the healthcare industry has been facing several challenges.

Currently, BD’s specimen management business is challenged by a high demand for blood collection tubes, further challenging the company’s capability to supply products and achieve necessary raw materials for its manufacturing plants. However, leading players expanded their manufacturing capabilities to fulfill the global demand for vacutainers during the pandemic. For instance, as of May 2022, BD announced that the supply of Vacutainer Citrate Tubes has been stabilized and is no longer on manual allocation or backorder. Furthermore, as per the data provided by the WHO, around 118.5 million units of donated blood are collected worldwide each year. From 2008 to 2018, an increase of 10.7 million blood donations from voluntary unpaid donors has been reported.

Thus, the rise in donations will increase the usage of the collection tubes; thereby accelerating the industry growth over the forecast period. However, the shortage of skilled personnel and lack of product awareness in low- and middle-income economies might hamper the industry growth. The growing aging population and experienced operators retiring without being replaced by lab technicians of the new generation are at the core, globally. Moreover, in 2022, a medical laboratory workforce study conducted by the University of Washington Center for Health Workforce Studies and ASCP found that challenges in the laboratory field comprise a shortage of qualified personnel, a falling number of accredited education programs, and increased demands due to vacancy rates and testing volumes.

Related Press Release@ Vacuum Blood Collection Tube Market Report

Vacuum Blood Collection Tube Market Report Highlights

The serum-separating tube segment accounted for the largest share in 2022. These tubes have gained wide acceptance due to the benefit of the barrier gel that enables rapid separation of serum from cellular constituents of blood and thus lessens the hemolysis
The PET/plastic material segment accounted for the largest share in 2022. Compared to glass, plastic decreases the exposure to biohazardous material following breakage, endures higher centrifugation speeds, has a greater shock resistance, weighs less, and is more effortlessly disposed of by incineration at a lower cost
The blood routine examination application segment dominated the industry in 2022 owing to the factors, such as the prevalence of lifestyle diseases and the rise in awareness about routine examination
The pathology laboratories end-use segment led the industry in 2022 due to the high prevalence of various diseases, such as hepatitis B, HIV AIDS, diabetes, cancer, and heart diseases, which require various blood tests to confirm the extremity of the disease
North America was the largest region in 2022 due to the presence of leading clinical diagnostics companies & well-developed healthcare infrastructure and a high number of R&D activities

Friday, 24 March 2023

Advanced Therapy Medicinal Products CDMO Market Worth $18.8 Billion By 2030

The global Advanced Therapy Medicinal Products CDMO Market size is expected to reach USD 18.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 18.8% from 2023 to 2030, owing to rising clinical trials for advanced therapy medicinal products and the increasing awareness among researchers about the benefits of advanced therapies, driving the advanced therapy medicinal products (ATMP) CDMO market growth. Tissue engineering has greatly benefited in recent years from technological development. The damaged tissues and organ function are replaced or restored using this technique. Similarly, gene and cell therapy are attracting a lot of patients for the treatment of rare diseases, whose incidence is rising globally.

With rising demand for robust disease treatment therapies, key players have focused their efforts to ramp up research and development for effective gene therapies that target the cause of disorder at a genomic level. According to ASGCT, the number of cell and gene therapies in the U.S. pipeline programs (phase I-III trials) increased from 483 in 2021 to 529 in 2022. Furthermore, the FDA delivers constant support for innovations in the gene therapy field via a number of policies with regard to product manufacturing. In January 2020, the agency released six final guidelines on the manufacturing and clinical development of safe & efficient gene therapy products.

Moreover, awareness about ATMP treatment options is being driven by initiatives aimed at informing the public about the benefits of these products, which, in turn, is leading to increased adoption of advanced therapies and fueling market growth for CDMOs. For instance, Alliance for Regenerative Medicine Foundation for Cell and Gene Medicine prioritizes activities for increasing public awareness through educational programs, underlining the clinical & societal benefits of regenerative medicine.

Increasing clinical trial activity along with new product launches generates growth opportunities for the market. As of 2022, there are 1451 ATMPs in preclinical stages and 535 are being studied in Phase 1 to 3 studies. Since August 2020, EMA has approved six of these additional ATMPs, and five more will be approved by 2023. In the UK, there were approximately 168 advanced therapy medicinal product trials underway in 2021, up from the 154 studies reported the year before, which is a 9% increase. 2021 saw a 32% increase in phase 1 trials, indicating a significant shift from experimental medicines to first-in-human studies.

On the other hand, key players are undertaking various strategic initiatives to introduce novel products, which is expected to propel market growth. For instance, in March 2021, CureVac N.V. signed a partnership agreement with Celonic Group, engaged in the manufacture of CVnCoV, CureVac’s mRNA-based COVID-19 vaccine candidate. CureVac's COVID-19 vaccine candidate is manufactured at Celonic's commercial manufacturing unit for ATMPs and biologics in Heidelberg, Germany. Under the terms of the commercial supply agreement, the Celonic facility could produce over 100 million doses of CVnCoV.

Advanced Therapy Medicinal Products CDMO Market Report Highlights

By product, gene therapy accounted for a major share of market space due to increasing clinical trials for gene therapies. Moreover, collaborative efforts for the development of novel gene therapies and the resultant expansion in gene therapy applications are factors expected to drive the volume of manufacturing
Cell therapy is expected to account for a significant market share in the coming years. A rise in research interests and the adoption of advanced cell therapies are attracting increased investments. The segment is being driven by CDMOs attracting investments to keep up with growing commercial markets and support their growth and diversification prospects
By phase, the phase I segment dominated the market revenue share in 2022. This is attributed to the growing number of human trials for advanced therapies and rising R&D activities
By indication, the oncology segment held a major share of the market in 2022 due to the increasing number of cancer patients and increasing cell and gene therapy research related to cancer. Moreover, technological advancements, such as the development of cancer vaccines, are expected to further support segment growth
North America dominated the global market in 2022, owing to increasing healthcare expenditure and the presence of key players. Companies such as Novartis AG, Sanofi, Johnson & Johnson Services, Inc., and Viatris are positively influencing market growth
For instance, in June 2022, Novartis AG launched Dimethyl fumarate HEXAL for the treatment of patients with Relapsing-Remitting Multiple Sclerosis (RRMS) in Germany. This strategic launch was aimed at commercializing Hexal in Germany
The Asia Pacific region is expected to expand considerably in the future. China is one of the major markets in the region. The market growth can be attributed to increasing government investments and reforms in policies related to the manufacturing of pharmaceutical products. China ranked second in the world for cell & gene therapy development with more than 1,000 clinical trials conducted in the country

Tuesday, 21 March 2023

U.S. Deep Brain Stimulation In Parkinson’s Disease Market Growth, Opportunities and Forecast To 2030

The U.S. Deep Brain Stimulation In Parkinson’s Disease Market size is expected to reach USD 849.49 million by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.30% from 2022 to 2030. The rising prevalence of neurological conditions, such as Parkinson’s Disease (PD), increasing awareness, positive research outcomes, and growing investments in the development of transcranial stimulators are among the major factors driving the overall U.S DBS devices market.

DBS devices have been observed to be greatly effective in controlling the tremors associated with PD. They provide electrical stimulation to the basal ganglia, which results in suppressed neuronal activity that is generally spontaneous in patients suffering from PD. Low dopamine levels and other genetic factors are the main causes of PD. According to the Parkinson’s Foundation, about 1 million people are expected to be living with PD in the U.S. by 2020. Men are more susceptible to this disease than women.

Increasing investments for conducting R&D on PD have helped in raising awareness and boosting the development of new and innovative products and therapies for the treatment of this disease. For instance, the National Parkinson Foundation (NPF) provides funds to researchers and scientists with an aim to make advancements in this field. Extensive research activities for the inclusion and approval of deep brain stimulators in new application areas, such as full-body MRI scans and depression, are anticipated to boost the market growth over the forecast period. The DBS procedure price in the U.S. is around USD 96,000. It is expensive as compared with the cost of DBS procedures in countries such as the U.K. and Japan.

U.S. Deep Brain Stimulation In Parkinson’s Disease Market Report Highlights

By product, the dual-channel segment accounted for the largest revenue share of over 55.0% in 2021. Dual-channel DBS offers the best overall support, exhibiting greater effectiveness in reducing patient tremors and enhancing the quality of life
The single-channel product segment is estimated to register the highest CAGR over the forecast period. This is due to the cost of dual-channel DBS is high. Single-channel DBS offers patients suffering from progressed or complicated PD a chance to recover a part of their motion at a comparatively lower cost. Single-channel DBS is also easier to program and it offers greater room for operational flexibility
The industry is highly competitive. Market players are adopting various strategies, including partnerships, mergers and acquisitions, product innovations, and product launches to improve their position in the market

Monday, 20 March 2023

Foam Dressing Market Growth, Opportunities and Forecast To 2030 | 3M; Coloplast Corp.; Medline Industries; Smith & Nephew; Cardinal Health; ConvaTec Group PLC; Derma Sciences Inc

The global Foam Dressing Market size is anticipated to reach USD 2.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2022 to 2030. A few of the key drivers propelling the market growth include an increase in surgical cases, a rapidly aging population, and an increase in the number of diabetes patients. For instance, according to the World Economic Forum, the current population of Japanese people above 65 years of age is 25% of the total population. This number is further expected to rise to 40% by 2060. Older people are more likely to sustain wounds, thus, the market for foam dressing is expected to grow throughout the forecast period.

An increase in the number of obese/overweight people is another fueling factor of the market. For instance, according to an article by Sage Journals & Indian Academy of Neurosciences, 2021, the number of obese people in India is estimated to be 135 million. Similarly, as per the Obesity Evidence Hub, two-thirds of the Australian people, i.e., 35.6% are overweight, whereas, 31.3% are expected to be obese. These situations are anticipated to raise demand for bariatric treatments and other related surgeries, driving the growth of the market over the anticipated time frame.

Additionally, the industry is anticipated to grow in the upcoming years with the launch of the COVID-19 vaccine and the relaxation of lockdown restrictions. It is anticipated that many elective procedures will be performed that were delayed. Moreover, many top producers are engaged in strategic activities including new launches, partnerships, and geographic expansion that could enable them to profit from the rising demand for foam dressing products during the projection period. For instance, in February 2022, Medline Industries announced the launch of a new version of its foam dressing Optifoam Gentle EX Foam Dressing. This is specially designed to displace the pressure whenever used with a pressure injury prevention protocol. Thus, similar initiatives by other market players are anticipated to boost market growth during the post-pandemic time.

Related Press Release@ Foam Dressing Market Report

Foam Dressing Market Report Highlights

Based on type, the adhesive foam dressing segment dominated the market and accounted for a revenue share of 56.5% in 2021, owing to an increase in the number of high exudate wound patients
Based on application, the chronic wound application segment accounted for a revenue share of 59.9% in 2021 and is leading the market
Based on end-use, the hospital segment dominated the market, due to an increase in surgical site infections among hospital patients. On the other hand, during the projected period, the home healthcare segment is expected to witness a CAGR of 5.4%
North America dominated the market and accounted for the highest revenue share of 45.4% in 2021 owing to the increasing number of diabetic patients, rise in the number of obese population, and technological advancements

Surgical Tables Market: Industry Demand, Analysis And Future Trends 2030

The global Surgical Tables Market size is expected to reach USD 2.34 billion by 2030, registering a CAGR of 6.5% during the forecast period, according to a new report by Grand View Research, Inc. Rising prevalence of chronic diseases and the increasing patient population requiring surgical tables along with high adoption of advanced surgical systems are factors anticipated to augment the market growth. Recent technological advancements in surgical instrumentation have improved the operating process. Due to this, surgical procedures will become safer, faster, and less stressful in the future. While surgical tables with features that might be considered novel are being developed, basic requirements for surgical tables tend to increase. In addition, increasing patient preference for non-invasive procedures, which require advanced surgical tables and need patients to be positioned differently, is predicted to foster the overall market growth.

Advances in surgical procedures require new positioning devices including surgical tables and other new accessories. Some of the surgical tables are designed to facilitate specialty procedures, such as shoulder injury. Furthermore, the requirement for advanced surgical instruments including surgical tables is increasing specifically among various hospitals in developing and developed economies. Several market players are focusing on advancing and launching innovative surgical tables to expand their global reach. For instance, in October 2021, Stille announced a collaboration with GE Healthcare for the launch of new surgical tables across the U.S. In July 2020, Hill-Rom launched PST 500, a precision surgical table. This product launch helped the company in widening its product portfolio. Such technological advancements by major market players are expected to positively influence market growth.

Related Press Release@ Surgical Tables Market Report

Surgical Tables Market Report Highlights

The general surgical tables segment held the largest market share in 2021 owing to the rising volume of general surgeries, such as cardiovascular, gynecology, and ENT, across the globe
The powered surgical tables segment held the maximum market share in 2021 due to the advantages of these equipment over their counterparts
The carbon composite material segment is anticipated to grow at the fastest CAGR during the forecast period due to the rising number of carbon composite surgical tables manufactured by several market players
The hospitals end-use segment dominated the market in 2021 due to the increasing number of surgical procedures requiring surgical tables globally
North America dominated the global market in 2021 owing to the high product demand. However, Asia Pacific is expected to grow at the fastest CAGR during the forecast period
The fastest growth can be credited to the rising incidence of CVDs and growing bariatric cases across several countries of the APAC region

Anti-acne Cosmetics Market Size Worth $8.91 Billion By 2030

The global Anti-Acne Cosmetics Market size is expected to reach USD 8.91 billion by 2030 registering a CAGR of 9.0%, according to a new report by Grand View Research, Inc. The high psychological burden associated with acne, especially among women, is expected to be the key growth-driving factor for the market. Moreover, the easy availability of various products to treat acne is anticipated to support the market growth. According to the American Academy of Dermatology, it is one of the common skin disorders in the U.S., affecting approximately 50 million individuals every year, with nearly 85% of individuals between the age group of 12 and 24 years having minor acne. Thus, a high prevalence of this skin disorder is also anticipated to fuel the product demand, thereby augmenting the market growth.

Furthermore, according to a study conducted by SkinStore, an average American woman uses nearly 16 skincare products per day and spends approximately USD 8 each day on facial cosmetics products. Such beauty regimes are also anticipated to propel market growth. According to a University of Limerick study, the negative social stigma associated with this skin disorder reduces the quality of life of individuals, increases their psychological distress, and causes physical problems, such as headaches, sleep disturbance, and gastrointestinal issues. This is also anticipated to increase the product demand over the coming years.

Related Press Release@ Anti-acne Cosmetics Market Report

Anti-acne Cosmetics Market Report Highlights

The creams & lotions segment dominated the market in 2020 as the cream is the first line of therapy for all types of acne and it also provides skin moisturization
The others product segment is expected to register the fastest CAGR over the forecast period due to the lightness of these products on the skin and compatibility with various skin types, as compared to creams & lotions
The women end-use segment held a dominant share of the market in 2020 and is expected to grow at the fastest CAGR during the forecast period, owing to a high prevalence of acne and other skin disorders
Asia Pacific is anticipated to be the largest as well as the fastest-growing regional market from 2021 to 2028 due to increasing disposable income levels and growing population in developing countries