Leak Detection And Repair Market To Hold a High Potential for Growth by 2028

 Leak Detection And Repair Market Growth & Trends

The global leak detection and repair market size is expected to reach USD 26.07 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 4.6% from 2021 to 2028. The growth can be attributed to the increasing oil and gas leakages in pipelines and storage tanks and the ongoing new pipeline constructions, among others. The rise in oil and gas consumption has increased the production activities of oil and gas and thereby, created the need for leak detection repair systems.

Nowadays, oil and gas companies are leveraging internet of things capabilities for leakage detection, remote area monitoring, and so on. In the oil and gas industry, IoT technology is used for monitoring pumps, compressors, and motors and detecting the temperature, dynamic pressure, and traces of gas in pipelines. Various companies are making efforts to provide internet of things-based pipeline leak detection services. For instance, in November 2020, Siemens announced its partnership with ProFlex Technologies, a provider of leak detection solutions to pipeline operators. Under this partnership, the Pipe-Safe advanced leak detection technology of ProFlex will be combined with Siemen's IoT system to enable operators to reduce the risk of gas leaks.

Government bodies across the world are making efforts to reduce methane emissions in recent days. The U.S. Environmental Protection Agency (EPA), under the government's Climate Action Plan and the Clean Air Act, is making efforts to cut down methane emissions from oil and natural gas industries. This strategic plan is aimed toward reducing methane emissions from the oil and gas industry by 40% to 45% by 2025. Methane is the key contributor to global warming, having a potential of more than 25% compared to carbon dioxide. This creates the need for leak detection and repair solutions for controlling methane leakage from oil and gas industries.

The COVID-19 pandemic is anticipated to impact the market growth favorably in the coming years. The pandemic has led to an increase in the use of UV leak detection systems for identifying leaks in mobile HVAC systems. The pandemic has led to an increase in the use of car heating systems to sanitize emergency vehicles. Thios creates the need for a leak detector as coolant leaks can lead to the risk of overheating of engines.  

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Leak Detection And Repair Market Report Highlights

• Low-cost operation, high accuracy, and sensitivity in leak detection, environmental concerns regarding emission of harmful greenhouse gases, and support provided by governments and regional associations are among the primary growth stimulants for the market
• Presence of the largest oil and gas pipeline network and concentration of major oil and gas producing and refining companies in North America are expected to offer a high-potential market for the deployment of gas leak detection, monitoring, and repair systems over the forecast period
• Major American and European oil and gas companies are focusing on increasing their presence in Asia Pacific through acquisitions and investments
• National oil companies in the Asia Pacific region such as Oil and Natural Gas Corporation, China National Offshore Oil Corporation, and Petronas are also expanding their operations to capitalize on the region’s rapidly growing market
• In terms of technology, Volatile Organic Compounds (VOC) analyzers are in demand as they detect various gases such as propane, methane, and carbon dioxide
• North America dominated the market in 2020 owing to the stringent regulations such as Leak Detection Regulations in the U.S. as well as the high adoption of advanced technologies by companies in the region

Leak Detection And Repair Market Segmentation

Grand View Research has segmented the global leak detection and repair market based on product, technology, and region:

Leak Detection And Repair Product Outlook (Revenue, USD Million, 2016 - 2028)

• Handheld Gas Detectors
• UAV-Based Detectors
• Vehicle-based Detectors
• Manned Aircraft Detectors

Leak Detection And Repair Technology Outlook (Revenue, USD Million, 2016 - 2028)

• Volatile Organic Compounds (VOC) Analyzer
• Optical Gas Imaging (OGI)
• Laser Absorption Spectroscopy
• Ambient/Mobile Leak Monitoring
• Acoustic Leak Detection
• Audio-Visual-Olfactory Inspection

Leak Detection And Repair Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
  • Venezuela
• Middle East & Africa

List of Key Players in the Leak Detection And Repair Market

• Aeris Technologies, Inc.
• IBM Thomas J. Watson Research Center
• Bridger Photonics, Inc.
• LI-COR, Inc.
• Duke University
• Colorado State University
• Palo Alto Research Center
• Maxion Technologies Inc.
• Rebellion Photonics
• Physical Sciences Inc.
• Avitas Systems
• PrecisionHawk
• SeekOps, Inc.
• Advisian
• Ball Aerospace & Technologies Corp.
• Gas Ops Leak Detectives, LLC (G.O.L.D. LLC).
• Guideware Systems, LLC.
• Summit Inspections Services, Inc.
• GHD, Inc.
• ERM Group, Inc.
• AECOM
• Guardian Compliance
• ABB Ltd.
• Chicago Bridge & Iron Company N.V.
• Heath Consultants
• ENCOS, Inc.
• Team Inc.
• VelocityEHS
• Picarro Inc.
• Microdrones GmbH
• Boreal Laser Inc.
• Kairos Aerospace

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Impact of Existing and Emerging Platelet Rich Plasma Market Trends And Forecast 2021-2028

 Platelet Rich Plasma Market Growth & Trends

The global platelet rich plasma market size is estimated to reach USD 1.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.0% from 2021 to 2028. Several research studies have been performed recently to assess the conditions and incidences of platelet rich plasma (PRP) usage across both nonoperative as well as operative settings. Recent research on these lines has concluded that the breadth and use of platelet rich plasma have increased significantly among Medicare beneficiaries, which is expected to drive the market.

Technological advancements in the development of novel and innovative platelet rich plasma products are expected to propel market growth. Market participants are developing advanced products to reinforce their market share and overcome current limitations. In February 2020, Florida-based EmCyte Corporation received FDA’s 510(k) approval for its PurePRP Supraphysiologic Concentrating System, intended for producing platelet rich plasma from a small quantity of blood sample at Point-of-care (PoC) settings. This is an advanced autologous biologic concentrating system that can enable clinicians to improve their work.

The potential value of the market products lies in its ability to include high concentrations of platelet-derived fibrin and growth factors. Several research studies have demonstrated beneficial results with the usage of PRP in a wide range of clinical applications, such as orthopedics, sports medicine, cosmetic surgery, general surgery, neurosurgery, ophthalmic surgery, and others.

PRP injections are widely accepted in the orthopedic treatment, particularly focused towards joint pain relief and other bone defects, propelling the industry growth. It is also used to stimulate the formation of bone in spinal fusion surgeries. Additionally, integration of PRP in the management of COVID-19 patients, as an adjunct therapy is further expected to offer profitable business opportunities for the entities operational in this market.

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Platelet Rich Plasma Market Report Highlights

• The pure PRP segment accounted for the largest revenue share of over 52.0% in 2020. Compared to Leukocyte Rich Platelet rich plasma (LR-PRP), pure PRP can promote better repair of bone defects
• LR-PRP can enhance bone regeneration by improving viability, proliferation, migration of cells in vitro, and osteogenesis and angiogenesis in vitro and in vivo
• However, LR-PRP products can produce adverse or inferior effects, making pure type more suitable for bone regeneration
• The combined use of P-PRP with β-tricalcium phosphate (β-TCP) is considered a simple, safe, and effective option in the treatment of bone defects. These factors are expected to boost the utilization of the same
• Orthopedics dominated the market in 2020 accounting for a market share of more than 29.0%, while dermatology is expected to witness the fastest growth rate over the forecast period
• A large number of orthopedic and general surgeries being performed in hospitals is contributing to the dominant share held by hospitals in the market
• The growing competition in the global market can be attributed to the presence of several well-established companies as well as small and midsized entities
• Established manufacturers are observing strategic product developments to ensure maximum product reach
• In October 2019, a new design for packaging was introduced by Croma-Pharma GmbH for the company’s ACP double syringe system. The unique appearance of Croma products has been integrated in this new design. Croma is an exclusive distributor of the Arthrex ACP double syringe system in 9 countries in Europe

Platelet Rich Plasma Market Segmentation

Grand View Research has segmented the global platelet rich plasma market on the basis of type, application, end-use, and region:

PRP Type Outlook (Revenue, USD Million, 2017 - 2028)

• Pure Platelet Rich Plasma
• Leukocyte Rich Platelet Rich Plasma
• Others

PRP Application Outlook (Revenue, USD Million, 2017 - 2028)

• Orthopedics
• Sports Medicine
• Cosmetic Surgery
• Dermatology
  • Ulcer Healing
    • Venous Ulcer
    • Traumatic Ulcer
    • Diabetic Ulcer
    • Pyoderma Gangrenosum Ulcer
    • Trophic Ulcer
    • Vasculitic Ulcer
    • Others
  • Others
• Ophthalmic Surgery
• Neurosurgery
• General Surgery
• Others

PRP End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Hospitals
• Clinics
• Others

PRP Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • South Africa

List of Key Players of Platelet Rich Plasma (PRP) Market

• Johnson & Johnson (DePuy Synthes)
• Zimmer Biomet
• Stryker
• EmCyte Corporation
• Terumo BCT, Inc.;
• Arthrex, Inc.
• PRP America
• Juventix
• APEX Biologix
• Celling BioSciences

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

T-cell Therapy Market to Exhibit Impressive Growth During 2021 – 2028

 T-cell Therapy Market Growth & Trends

The global T-cell therapy market size is expected to reach USD 20.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 20.2% from 2021 to 2028. The milestone approvals of Kymriah and Yescarta along with the recent approval of Tecartus have bolstered the exponential revenue growth in the market.

The commercial launch of these innovative therapies across various regions has spurred the investment flow in this arena thereby driving the market. Cancer indications are the major investment targets for the key operating players. However, space is constantly expanding to include other indications such as viral infections, creating lucrative opportunities for the operating players.

Engineered T-cell marketspace is characterized by an in-depth network of several entities marked by financially, academically, and licensing agreements. Collaborations between research bodies and manufacturers to assess the efficacy and safety of therapies are anticipated to put forth the advancements in the space, thereby expected to result in the anticipated success of the market.

By far, the wider application of CAR-T therapies has been hampered by the considerable lack of efficiency to treat solid tumors and linked toxicity concerns due to the strong immunosuppressive tumor microenvironment. Thus, operating players are engaged in implementing new approaches to overcome these challenges and expand the application in solid.

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T-cell Therapy Market Report Highlights

• Research modality accounted for the largest revenue share with the growing pipeline of products entering clinical and pre-clinical phases
• The commercial base is expected to witness growth owing to the increasing regulatory approvals for commercial products across various countries as well as a rise in the number of medical centers implementing these therapies
• The geographical expansion of Kymriah and Yescarta in Europe and the Asia Pacific has encouraged the investors to support the development in this space
• CAR-T therapies contributed to the largest revenue share owing to the high investment flow in this therapy type
• The high number of clinical trialsfor CAR-T therapies further supports the dominance of the segment in the global space
• The presence of approved products such as Kymriah, Yescarta, and Tecartus for the treatment of hematological malignancies has resulted in anticipated segment growth
• The development of therapy for solid tumors has created lucrative opportunities for players to capture untapped avenues
• COVID-19 pandemic has opened new research opportunities for market players to invest in T-cell space for viral infections
• The scientific community is actively engaged in evaluating the T-cell therapy potential in COVID-19 patients thus supplementing the market growth
• North America dominated in 2020 global market owing to the exponential rise in clinical trials pertaining to T-cell therapies
• A strong commercial base in the U.S. further contributed to the dominance of the region in the market
• The shifting focus of U.S.-based companies from conventional drug development to t-cell therapies also drives regional growth
• Asia-Pacific is projected to witness the fastest CAGR with emerging markets such as China at the forefront
• China tops the list of registered clinical trials for CAR-T surpassing the U.S. More than 300 clinical trials are ongoing in China
• Key companies are undertaking various strategic initiatives to maintain their market position
• For instance, Bayer collaborated with Atara Biotherapeutics in December 2020 for the development of mesothelin-targeted CAR T-cell therapies to treat solid tumors

T-cell Therapy Market Segmentation

Grand View Research has segmented the T-cell therapy market on the basis of modality, therapy type, indications, and regions:

T-cell Therapy Modality Outlook (Revenue, USD Million, 2017 - 2028)

• Research
• Commercialized

T-cell Therapy Type Outlook (Revenue, USD Million, 2017 - 2028)

• CAR T-cell Therapy
• T Cell Receptor (TCR)-based
• Tumor-Infiltrating Lymphocytes (TIL)-based

T-cell Therapy Indication Outlook (Revenue, USD Million, 2017 - 2028)

• Hematologic Malignancies
  • Lymphoma
  • Leukemia
  • Myeloma
• Solid Tumors
  • Melanoma
  • Brain & Central Nervous System
  • Liver Cancer
  • Others
• Others

T-cell Therapy Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • Japan
  • China
• Latin America
  • Brazil
• Middle East and Africa (MEA)
  • South Africa

List of Key Players of T-cell Therapy Market

• Novartis AG
• Merck KGaA
• Gilead Sciences Inc.
• TCR2 Therapeutics Inc
• Bluebird Bio Inc.
• Sorrento Therapeutics
• Fate Therapeutics
• Pfizer Inc.
• Amgen
• Celgene Corporation

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Mechanical Ventilators Market to Register Stable Expansion During 2021 – 2028

 Mechanical Ventilators Market Growth & Trends

The global mechanical ventilator market size is expected to reach USD 3.9 billion by 2028, according to a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 4.9% from 2021 to 2028.The unprecedented dawn of COVID-19, increasing incidence of chronic obstructive pulmonary disease (COPD), rising incidence of respiratory emergencies, and technological innovation in respiratory care devices are the major factors driving the market.

Coronavirus wave is anticipated to crest by 2021, owing to the development of Covid-19 vaccine in coupled with effective therapeutic options to treat mild to moderate symptoms of the infection. In addition, there is an expected decrease in infection rate of corona virus due to high awareness amongst population and adherence to physical distancing measure.

However, technical advancements such as rapid innovation in the field of Positive Airway Pressure (PAP) devices, portability, and improvement in battery life of transport and portable devices are the primary influencers in the market.

The WHO estimates that, at present, approximately 90.0% of COPD deaths occur in low- and middle-income countries. Therefore, the rise in prevalence of such diseases, introduction and availability of portable, cost contained, and easy-to-use mechanical ventilators for the treatment of respiratory conditions is expected to drive the market.

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Mechanical Ventilators Market Report Highlights

• Transport and portable ventilators are expected to witness a lucrative CAGR of over 5.2% over the forecast period. Hospitals are promoting use of portable breathing machines to provide faster and continuous care to patients even prior to their arrival in the premises. Portable breathing machines fulfill the need of patients to obtain home care, thereby increasing their popularity
• North America dominated the market in terms of revenue owing to the rising geriatric population in U.S., which is leading to a corresponding rise in the incidences of respiratory disorders along with manufacturing boost
• Asia Pacific and Latin America are expected to witness lucrative growth over the forecast period. This growth is due to the presence of untapped opportunities, rising expenditure level, and the introduction of favorable government initiatives
• Market participants are constantly engaged in development of new products in an attempt to improve presence and ensure sustainability

Mechanical Ventilators Market Segmentation

Grand View Research has segmented the global mechanical ventilators market based on product and region:

Mechanical Ventilators Product Outlook (Revenue, USD Million, 2016 - 2028)

• Critical care
  • Ventilators
  • Accessories   
• Neonatal
  • Ventilators
  • Accessories               
• Transport & portable
  • Ventilators
  • Accessories   
• Others

Mechanical Ventilators Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • India
  • China
  • Japan
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Mechanical Ventilators Market

• Getinge AB
• Vyaire Medical Inc.
• Medtronic
• Drägerwerk AG & Co. KGaA
• GE Healthcare
• Koninklijke Philips N.V.
• Smiths Group plc
• Hamilton Medical
• ACOMA Medical Industry Co., Ltd.
• ResMed Inc.

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Biopharmaceutical Third Party Logistics Market Led To A Lucrative Growth At A CAGR Of 5.6% Over The Forecast Period From 2021 To 2028

 

Biopharmaceutical 3PL Market Growth & Trends

The global biopharmaceutical third party logistics market size is expected to reach USD 145.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.6% from 2021 to 2028. Rising demand for temperature-controlled logistic services to transport biologics in various regions and growing distribution networks of biopharmaceutical companies to improve their sales are factors driving the market growth. The rising adoption of automated storage and retrieval systems in emerging countries is an ongoing trend in pharmaceutical logistics companies that has gained significant traction.

The biopharmaceutical third party logistic players played a vital role in the fight against COVID-19 by minimizing supply disruptions and prioritizing critical care drugs. The future also seems good for the biopharmaceutical 3PL market with rising demand for domestic logistics coupled with favorable government initiatives and policies.

Furthermore, the trend of shifting from small molecule drugs to biopharmaceuticals, mainly vaccines & biologics, is projected to drive the market. Since these small molecule drugs are temperature-sensitive products, demand for temperature-controlled transportation and storage increases and thus is responsible for market growth.

Additionally, environmental concerns and cost have caused a slight shift in the means of transport used for commercial products, moving from airway to seaway shipping, and in roadways from trucks to intermodal (both rail and truck). Intermodal transport is majorly used by these pharmaceutical companies to reduce the carbon footprint. The ongoing trend shows that pharmaceutical manufacturers have shifted towards sea freight to reduce the cost and risk factors. Although for cold chain products, the companies still prefer air freight. However, some of the large pharmaceutical companies are planning to transport 70% of their products via ocean freight including cold chain products.

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Biopharmaceutical 3PL Market Report Highlights

• In 2020, non-cold chain logistics held the largest market share of 80.8% in terms of revenue owing to the sales of a large number of drugs that do not require any temperature control
• The cold chain logistics segment is expected to register the faster CAGR of 8.6% over the forecast period owing to the demand for biologics, such as cellular therapies, vaccines, and test kits
• Warehousing and storage held the largest market of 43.6% share among the types of services in 2020
• Asia Pacific is expected to emerge with the fastest CAGR of 7.2% over the forecast period owing to the adoption of medicines from the aging population and a shift of drug sales from brand manufacturers to generic

Biopharmaceutical 3PL Market Segmentation

Grand View Research has segmented the global biopharmaceutical 3PL market on the basis of the supply chain, service type, and region:

Biopharmaceutical Third Party Logistics Supply Chain Outlook (Revenue, USD Billion, 2016 - 2028)

• Cold Chain
• Non-cold Chain

Biopharmaceutical Third Party Logistics Service Type Outlook (Revenue, USD Billion, 2016 - 2028)

• Transportation
  • Air Freight
  • Sea Freight
  • Overland
• Warehousing and Storage
• Others

Biopharmaceutical Third Party Logistics Regional Outlook (Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK.
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • New Zealand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of key players in the Biopharmaceutical 3PL Market

•  
• DHL International GmbH
• SF Express
• United Parcel Service of America, Inc.
• AmerisourceBergen Corporation
• DB Schenker
• KUEHNE + NAGEL
• Kerry Logistics Network Limited
• Agility

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Connected Drug Delivery Devices Market to Account for USD 4.07 Billion by 2028

 Connected Drug Delivery Devices Market Growth & Trends

The global connected drug delivery devices market size is expected to reach USD 4.07 billion by 2028 registering a CAGR of 46.7%, according to a new report by Grand View Research, Inc. Factors contributing to the growth of this market include a rise in awareness about the adverse effects of non-adherence to medication and increased adoption of IoT, patient connectivity, and engagement. The Covid-19 pandemic has further accentuated the need for “contactless” services, thereby increasing the demand for connected drug delivery devices as well as providing lucrative growth opportunities in the coming years.

Connected drug delivery devices help physicians to monitor the compliance of patients to the therapy prescribed by them as well as to modify the treatment of the patient treatment as required. A growing number of initiatives to create awareness regarding the complexities caused by overdosage or underdosage of medicines is expected to promote the adoption of connected drug delivery devices.

Patients with chronic diseases, such as asthma and diabetes, are facing challenges in managing medications, adherence to prescriptions, visiting healthcare providers, and maintaining a balanced diet. Connected drug delivery devices can be useful for self-management. These devices can aid in patient adherence to prescribed treatments, which is likely to significantly increase their adoption.

Major market players are collaborating via partnerships to enhance their market presence. For instance, in July 2020, Teva Respiratory, LLC, a U.S.-based affiliate of Teva Pharmaceutical Industries Ltd., launched the ProAir Digihaler inhalation powder. The device is a digital rescue inhaler with built-in Bluetooth wireless technology sensors for the treatment or prevention of bronchospasm.

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Connected Drug Delivery Devices Market Report Highlights

• The connected sensors product segment dominated the overall market in 2020 and is projected to expand further at a steady CAGR from 2021 to 2028
• The growth of this segment is attributed to the lower prices of connected sensors than integrated connected devices
• North America held the dominant share in 2020 due to the quick adoption of the latest technologies as well as devices
• The industry participants are focusing on investing in acquisitions, collaborations, product launches, and partnerships to gain a competitive edge
• In June 2020, Propeller Health entered into a partnership with Novartis. Through this, Propeller’s digital health platform co-packaged Novartis’ Enerzair Breezhaler for effective treatment of asthmatic patients
• The healthcare providers end-user segment accounted for the majority of the revenue share in 2020 owing to the high prevalence of various chronic diseases
• The Bluetooth technology segment is expected to lead the global market, in terms of revenue share, owing to the easy availability and low price of this technology
• Asia Pacific is anticipated to witness steady growth from 2021 to 2028 due to the presence of emerging economies like Japan and increasing healthcare expenditure

Connected Drug Delivery Devices Market Segmentation

Grand View Research has segmented the global connected drug delivery devices market on the basis of product, end user, technology, and region:

Connected Drug Delivery Devices Product Outlook (Revenue, USD Million, 2016 - 2028)

• Connected Sensors
  • Connected Inhaler Sensors
  • Connectable Injection Sensors
• Integrated Connected Devices
  • Connected Inhalation Devices
  • Connected Injection Devices

Connected Drug Delivery Devices End-user Outlook (Revenue, USD Million, 2016 - 2028)

• Healthcare Providers
• Homecare

Connected Drug Delivery Devices Technology Outlook (Revenue, USD Million, 2016 - 2028)

• Bluetooth
• NFC
• Other Technologies

Connected Drug Delivery Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia

List of Key Players Connected Drug Delivery Devices Market

• Propeller Health
• Teva Pharmaceutical Industries Ltd.
• BIOCORP
• Merck KGaA
• Adherium Ltd.
• West Pharmaceutical Services, Inc.
• Aterica
• Phillips Medisize
• FindAir
• Elcam Medical

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Hemoglobinopathies Market is Expected To Reach Over $15.7 Billion by 2028

 

Hemoglobinopathies Market Growth & Trends

The global hemoglobinopathies market size is expected to reach USD 15.7 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.8% from 2021 to 2028. Increasing awareness regarding hemoglobinopathies and government initiatives to diagnose the diseases at an early stage are expected to propel the market growth over the forecast period. Moreover, increasing R&D investment, the presence of a promising drug pipeline, and technologically advanced diagnostics platforms are expected to boost the growth of the market.

The development of novel curative technologies, such as CRISPR/Cas9 and hematopoietic stem cell transplantation, coupled with a promising pipeline, is expected to propel market growth. Moreover, the presence of regulatory agencies, such as the FDA, which are working toward improving drug approval rate by granting accelerated approval for hemoglobinopathies drugs, is expected to drive the market. For instance, in 2019, the FDA has approved four novel drugs: Reblozyl by Bristol-Myers Squibb Company, Adakveo by Novartis AG, Zynteglo by bluebird bio, Inc., and Oxbryta by Global Blood Therapeutics, Inc. for the treatment of hemoglobinopathies.

Initiatives such as the Sickle Cell Awareness Initiative (SCAI) are working toward educating the people about the disease, which will increase the diagnosis and treatment rate. SCAI also raises funds for individuals affected with sickle cell diseases (SCDs) and provides research funding. Moreover, governments of Middle Eastern and Asian countries provide funds for R&D of hemoglobinopathies treatment. For instance, various programs undertaken by governments, such as thalassemia screening in neonates and providing medicines, are impacting the market growth positively.

The high patient population in low-income countries has encouraged market players and non-profit organizations to launch several initiatives to improve the access to the therapy. For instance, in February 2019, the Access to Excellent Care for Sickle Cell Patients Pilot Program (ACCEL) was launched by Global Blood Therapeutics, Inc. in order to provide research funding for novel SCD projects, with an aim to expand the access to optimal healthcare for sickle cell disease.

Biopharmaceutical companies are collaborating with nonprofit organizations to promote public awareness about hemoglobinopathies. For instance, in June 2018, the Sickle Cell Disease Association of America partnered with Emmaus Life Sciences, Inc. to provide online educational tools to sickle cell patients, friends, clinicians, caregivers, and researchers for spreading awareness about complications associated with SCD.

An increase in investment and funding for the development of novel therapies to treat hemoglobinopathies will further boost the market growth over the forecast period. The National Heart, Lung, and Blood Institute (NHLBI) has significantly invested in research & development in sickle cell disease. The NHLBI supports research work through various initiatives. Furthermore, private funding such as the Bronx Blood Research Fund (BBRF) provides a platform for research and management of thalassemia and other hemoglobinopathies.

Gene therapy has emerged as a promising treatment option for managing hemoglobin disorder as it targets the underlying genetic cause of the condition through the administration of one-time gene therapy and significantly reduces the need for blood transfusions. The current pipeline of gene therapy products includes CTX001 (CRISPR Therapeutics), BIVV003 (Sangamo Therapeutics, Inc. & Bioverativ Inc), and HGB-206 (bluebird bio, Inc).

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Hemoglobinopathies Market Report Highlights

• Based on type, sickle cell disease accounted for the largest share of 56.6% in 2020 and is anticipated to maintain its lead over the forecast period
• The newborn patient population with sickle cell anemia is anticipated to reach 400,000 by 2050. Half of the global sickle cell anemia burden is present in India, Nigeria, and the Democratic Republic of the Congo
• By therapy, in the thalassemia segment, the blood transfusion segment held the largest market share in 2020 and is estimated to dominate the market throughout the forecast period
• Asia Pacific is expected to witness the fastest growth over the forecast period owing to a large potential patient base and high unmet medical needs in the region
• North America held the largest market share in 2020 due to government initiatives focusing on the development of new therapies and better reimbursement scenario

Hemoglobinopathies Market Segmentation

Grand View Research has segmented the global hemoglobinopathies market on the basis of type, diagnosis, therapy, and region:

Hemoglobinopathies Type Outlook (Revenue, USD Million, 2017 - 2028)

• Thalassemia
• Sickle Cell Disease
• Other Hemoglobin (Hb) Variants

Hemoglobinopathies Diagnosis Outlook (Revenue, USD Million, 2017 - 2028)

• Thalassemia
  • Blood Test
  • Genetic Test
  • Prenatal Genetic Test
  • Pre-implantation Genetic Diagnosis
  • Electrophoresis
  • Others
• Sickle Cell Disease
  • Blood Test
  • Genetic Test
  • Prenatal Genetic Test
  • Electrophoresis
  • Others
• Other Hemoglobin (Hb) Variants
  • Blood Test
  • Genetic Test
  • Prenatal Genetic Test
  • Electrophoresis
  • Others

Hemoglobinopathies Therapy Outlook (Revenue, USD Million, 2017 - 2028)

• Thalassemia
  • Blood Transfusion
  • Iron Chelation Therapy
  • Bone Marrow Transplant
  • Others
• Sickle Cell Disease
  • Blood Transfusion
  • Hydroxyurea
  • Bone Marrow Transplant
  • Others
• Other Hemoglobin (Hb) Variants
  • Blood Transfusion
  • Hydroxyurea
  • Iron Chelation Therapy
  • Bone Marrow Transplant
  • Others

Hemoglobinopathies Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • India
  • China
  • Japan
  • Singapore
  • Australia
  • South Korea
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • United Arab Emirates
  • South Africa

List of Key Players of Hemoglobinopathies Market

• Sangamo Therapeutics, Inc.
• Global Blood Therapeutics, Inc.
• bluebird bio, Inc.
• Emmaus Life Sciences Inc.
• Pfizer, Inc.
• Novartis AG
• Prolong Pharmaceuticals, LLC
• Bioverativ Inc.
• Gamida Cell

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Specialty Medical Chairs Market Is Expected To Gain Significant Traction Over The Forecast Period

 Specialty Medical Chairs Market Growth & Trends

The global specialty medical chairs market size is expected to reach USD 6.05 billion by 2028 registering a CAGR of 7.5%, according to a new report by Grand View Research, Inc. Increasing geriatric population is one of the major factors boosting the product adoption. As per the WHO, it is estimated that from 2025 to 2050, the older population is expected to almost double to 1.6 billion globally. According to The World Bank, the population in the Asia Pacific region is aging rapidly.

More than 211 million people aged 65 years and above were living in East Asia and Pacific in 2010. The older population is expected to grow by 22% every five years in East Asia. This shows the potential demand for geriatric chairs in the coming years. The rising prevalence of lifestyle-associated diseases, such as diabetes, obesity, chronic kidney disease, and Cardiovascular Diseases (CVDs), is also expected to augment the product demand. Furthermore, rising cases of paralysis and spinal injuries are anticipated to contribute to the market growth.

Increasing reimbursement policies and supportive regulatory frameworks in developed nations are also pushing the market growth. For instance, Medicare policies in the U.S. offer reimbursement for equipment, such as wheelchairs, recliners, and others. In addition, key market players are offering customized products to meet the various needs of doctors and patients. Rising demand for new, easy-to-use products with better facilities is expected to provide lucrative opportunities to the market participants.

The examination and treatment rate at dental, ophthalmic, and gynecology clinics has decreased significantly, which can be attributed to the lockdown imposed in various Asian countries due to the pandemic and growing preference for online consultations. Various domestic and international companies are facing major challenges in Japan and China due to the pandemic and the aftermath is expected to continue until the second half of 2021.

Moreover, the healthcare resources are currently directed toward essential medical devices and supplies. It is believed that the outbreak will lead to many changes, including preferences of the general public, leading to a decline in product demand. However, major countries in Asia, such as China and South Korea, are on a steady path to recovery. According to the Asian Development Bank, China’s growth is expected to rebound by about 7.3% by 2021.

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Specialty Medical Chairs Market Report Highlights

• The rehabilitation product segment held the dominant share of over 40% in 2020 owing to rise in the geriatric population
• In 2020, dialysis chairs held the largest share in the examination product segment owing to the increased prevalence of chronic kidney diseases and rise in funding to centers for better equipment
• The treatment product segment is anticipated to register the fastest CAGR over the forecast period as these products are required for carrying out various treatment procedures, such as dental, and offer better comfort to patients during these procedures
• Asia Pacific is anticipated to be the fastest-growing regional market from 2021 to 2028 owing to improving healthcare infrastructure, growing geriatric population, and rising disposable income levels

Specialty Medical Chairs Market Segmentation

Grand View Research has segmented the global specialty medical chairs market on the basis of product and region:

Specialty Medical Chairs Product Outlook (Revenue, USD Million, 2016 - 2028)

• Examination
  • Birthing
  • Cardiac
  • Blood Drawing
  • Dialysis
  • Mammography
• Treatment
  • Ophthalmic
  • ENT
  • Dental
  • Others
• Rehabilitation
  • Pediatric
  • Bariatric
  • Geriatric
  • Others

Specialty Medical Chairs Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
• Latin America
  • Brazil
  • Mexico
• MEA
  • South Africa
  • Saudi Arabia

List of Key Players of Specialty Medical Chairs Market

• A-dec, Inc.
• ActiveAid, Inc.
• DentalEZ, Inc.
• Fresenius Medical Care AG & Co. KGaA
• Topcon Corp.
• Midmark Corp.
• Danaher (KaVo Dental GmbH)
• Dentsply Sirona
• Planmeca Oy
• Hill Laboratories Company

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Structural Insulated Panels Market is Expected to Amplify USD 17.19 Billion Value by 2028

 Structural Insulated Panels Market Growth & Trends

The global structural insulated panels market size is expected to reach USD 17.19 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% over the forecast period. Growing emphasis on constructing energy-efficient building structures and the rising investments in the renovation of old buildings are some of the major factors expected to boost the product demand.

Governments across the world are providing various incentives to construction companies and building contractors to promote energy-efficient building structures. For instance, the U.S. government, through its Weatherization Assistance Program (WAP), is incentivizing the improvement of thermal insulation in low-income households, which is expected to promote the demand for structural insulated panels (SIPs).

Key players are focusing on the development of novel insulation materials to improve the R-value of the product without adding to the final cost. For instance, the Kingspan Group has developed a novel insulation material using its proprietary ‘QuadCore Technology’. The product offers superior fire protection and durability. Furthermore, it is 11% and 60% more thermally efficient than high-quality PIR (Polyisocyanurate) and PU (Polyurethane) insulation materials respectively.

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Structural Insulated Panels Market Report Highlights

• The polyurethane product segment in the North America regional market is expected to register the fastest CAGR of 7.9% over the forecast period owing to superior insulation property, rigidity, fire resistance, and dimensional property of polyurethane
• The cold storage application segment is expected to witness significant growth during the forecast period owing to growing investments in the development of cold chain infrastructure across the globe
• In the Asia Pacific regional market, the polystyrene product segment accounted for the largest revenue share in 2020 owing to high demand for cost-effective, durable insulation materials from the construction industry
• Europe is expected to be the second-largest regional market from 2021 to 2028 owing to the progressive adoption of green building standards and rising investments in the redevelopment of old building structures in the region
• Major companies are offering training and services to the installation workers and building contractors to ensure the correct installation of the product and reduce the chances of product failure

Structural Insulated Panels Market Segmentation

Grand View Research has segmented the global structural insulated panels market on the basis of product, application, and region:

Structural Insulated Panels Product Outlook (Volume, Million Square Feet; Revenue, USD Million, 2017 - 2028)

• Polystyrene
• Polyurethane
• Glass Wool
• Others

Structural Insulated Panels Application Outlook (Volume, Million Square Feet; Revenue, USD Million, 2017 - 2028)

• Walls & Floors
• Roofs
• Cold Storage

Structural Insulated Panels Regional Outlook (Volume, Million Square Feet; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa (MEA)
  • UAE

List of Key Players of Structural Insulated Panels Market

• Metl-Span
• Kingspan Group
• PFB Corporation
• Isopan
• KPS Global
• American Insulated Panel
• Structural Panels Inc.
• All Weather Insulated Panels
• Ingreen Systems Corp.
• Owens Corning

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Preclinical CRO Market to Showcase Healthy Expansion at 8.1% CAGR During 2021 – 2028

 

Preclinical CRO Market Growth & Trends

The global preclinical CRO market size is expected to reach USD 8.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.1% from 2021 to 2028. The market is expected to witness lucrative growth over the forecast period due to increasing R&D expenditure and growing outsourcing trend. The increasing volume of new drugs entering the preclinical phase is also anticipated to boost the market growth over the forecast period.

The market is undergoing a series of mergers and acquisitions, resulting in the improvement in full-service capabilities and international reach of larger companies. For instance, in 2019, WuXi AppTec acquired Pharmapace. On the other hand, mid-sized and smaller contract research organizations (CROs) are focusing on niche sectors and are providing a personalized approach to their sponsors. Various companies are focusing on research and development of new drugs, and therefore are outsourcing these activities to launch efficient CRO services in the market. This, in turn, provides a positive atmosphere for joint ventures among market participants owing to the preference of sponsors to maximize their benefits.

The COVID-19 epidemic is ever increasing since it was first identified in China in December 2019. Until January 20, 2021, more than 96.7 million cases of COVID-19 were reported globally, with more than 2,068,303 deaths across the globe. This pandemic has fast-tracked the development of vaccine and drug testing. There are currently more than 50 COVID-19 vaccine candidates in preclinical studies as well as trials.

North America held the largest share of 47.7% in 2020. Significant investment in healthcare R&D, coupled with well-developed healthcare infrastructure in the U.S., is contributing to the largest share of North America. Asia Pacific is projected to expand at the fastest CAGR of 12.0% over the forecast period.

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Preclinical CRO Market Report Highlights

• By service, the toxicology testing segment accounted for the largest share of 61.1% in 2020 due to its significance in Investigational New Drug (IND)-enabling studies
• Based on end-use, the government and academic institutes segment is anticipated to register the highest CAGR of 8.4% over the forecast period due to improving government initiatives toward healthcare, especially in developing economies
• North America dominated the market in 2020 with a share of 47.7%. Significant healthcare expenditure on R&D is one of the major factors driving the market in this region

Preclinical CRO Market Segmentation

Grand View Research has segmented the global preclinical CRO market on the basis of service, end-use, and region:

Preclinical CRO Service Outlook (Revenue, USD Million, 2016 - 2028)

• Bioanalysis and DMPK Studies
• Toxicology Testing
• Others

Preclinical CRO End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Biopharmaceutical Companies
• Government and Academic Institutes
• Medical Device Companies

Preclinical CRO Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Spain
  • Italy
  • Netherlands
  • Belgium
  • Switzerland
  • Russia
  • Sweden
• Asia Pacific
  • India
  • Japan
  • China
  • Australia
  • South Korea
  • Malaysia
  • Indonesia
  • Singapore
  • Philippines
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Columbia
  • Chile
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Egypt

List of Key Players of Preclinical CRO Market

• Envigo Corporation
• MPI research
• Eurofins Scientific
• PRA Health Sciences, Inc.
• Wuxi AppTec
• Medpace, Inc.
• Pharmaceutical Product Development (PPD), LLC
• PARAXEL International Corporation
• ICON Plc
• Laboratory Corporation of America, Inc.

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Digital Payment Market to Observe Strong Development by 2028

 Digital Payment Market Growth & Trends

The global digital payment market size is expected to reach USD 236.10 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 19.4% from 2021 to 2028. The growth can be attributed to the growing volume of non-cash transactions and a rise in the fintech sector's technological developments. Various fintech companies and banks are making efforts to improve their digital offerings to meet the changing needs of customers. For instance, in January 2021, Mogo Inc., a financial technology & digital payment company, announced the shareholder's approval for the acquisition of Carta, a digital payment company. This acquisition is expected to help the former company in strengthening its presence in the market.

Biometric authentication in digital payments is expected to gain momentum in the coming years. It is a verification method that involves the biological characteristics of the person. The verifications include facial recognition, fingerprinting scanning, heartbeat analysis, and vein mapping. According to Payments Industry Intelligence, biometric authentication solutions are expected to be used to secure USD 2.5 trillion worth of mobile payment transactions by 2024.

The increase in the adoption of new technologies such as self-checkout systems in the retail industry is expected to drive market growth. In recent days, various companies are making efforts to deploy self-checkout systems in retail stores. For instance, in June 2020, Walmart, a retail company, announced the testing of its self-checkout retail stores at multiple locations in Arkansas, Fayetteville, during the pandemic. These stores will replace the traditional cashier checkout lanes with self-checkout systems.

The COVID-19 pandemic is anticipated to impact the market growth favorably in the near future. The pandemic has led to an increase in the use of mobile-based payment solutions and online sales, which are some of the major factors driving the demand for digital payment solutions globally. According to the study conducted by Accenture, transactions worth USD 7 trillion are expected to shift from cash to card and digital payments by 2023.

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Digital Payment Market Report Highlights

• In terms of deployment, the on-premise segment dominated the market in 2020. The on-premise deployment of digital payment solutions facilities secured transactions
• In terms of enterprise size, the large enterprise segment dominated the market in 2020. Many large enterprises have adopted digital payment solutions to efficiently manage their payment transactions, improve visibility of transactions, and enhance customer experience by reducing the time required to complete the payment
• In terms of end-use, the BFSI segment dominated the market in 2020. The continued digitalization of banks and other financial institutions is anticipated to drive the growth of the BFSI segment
• The increasing adoption of digital payment solutions in emerging economies such as China and India is expected to create growth opportunities for the market players in the Asia Pacific region over the forecast period

Digital Payment Market Segmentation

Grand View Research has segmented the global digital payment market based on solution, mode of payment, deployment, enterprise size, end-use, and region:

Digital Payment Solution Outlook (Revenue, USD Billion, 2016 - 2028)

• Application Program Interface
• Payment Gateway
• Payment Processing
• Payment Security & Fraud Management
• Transaction Risk Management
• Others

Digital Payment Mode of Payment Outlook (Revenue, USD Billion, 2016 - 2028)

• Bank Cards
• Digital Currencies
• Digital Wallets
• Net Banking
• Point of Sales
• Others

Digital Payment Deployment Outlook (Revenue, USD Billion, 2016 - 2028)

• Cloud
• On-premise

Digital Payment Enterprise Size Outlook (Revenue, USD Billion, 2016 - 2028)

• Large Enterprises
• Small & Medium Enterprises

Digital Payment End-use Outlook (Revenue, USD Billion, 2016 - 2028)

• BFSI
• Healthcare
• IT & Telecom
• Media & Entertainment
• Retail & E-commerce
• Transportation
• Others

Digital Payment Regional Outlook (Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East & Africa

List of Key Players in the Digital Payment Market

• Aliant Payments
• Aurus Inc.
• Adyen
• Financial Software & Systems Pvt. Ltd.
• PayPal Holdings Inc.
• Novatti Group Pty Ltd.
• ACI Worldwide, Inc.
• Global Payments Inc.
• Wirecard
• Net

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Pharmacy Automation Devices Market to Partake Significant Development During the Forecast Period: Grand View Research Inc.

 

Pharmacy Automation Devices Market Growth & Trends

The global pharmacy automation devices market size is expected to reach USD 9.5 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.3% from 2021 to 2028. The increasing burden of chronic diseases and the growing geriatric population are leading to an increase in the number of prescriptions. This, in turn, is resulting in a rise in the number of medication errors. For instance, 237.4 million medication errors occurred in England in 2018, according to the article published in The Pharmaceutical Journal. This is driving the demand for pharmacy automation devices. Moreover, an increase in initiatives by various organizations, such as the American Society of Health-System Pharmacists, to reduce medication errors is positively impacting the market growth.

In 2020, the medication dispensing systems product segment accounted for the largest revenue share owing to the benefits offered by these products, such as minimized medication errors, better inventory management, improved medication adherence for patients with complex treatments, improved patient care, minimized drug waste with true split-fills, improved storage capacity, and reduced administrative burden among the end-users. The automated medication compounding systems segment is anticipated to witness the fastest growth during the forecast period. Reduction in compounding errors and contamination is a major factor driving the segment. Moreover, the increasing adoption of these devices for sterile compounding is fueling the segment growth.

The retail pharmacy end-use segment accounted for the largest revenue share in 2020. The rising adoption of these solutions, the presence of a large number of retail pharmacies, and growing investments in this sector are driving the segment. For instance, in May 2018, McKesson Co., a Healthcare Information Technology (HIT) company, entered into an agreement with Discount Drug Mart, which is an Ohio-based retail drug store, to build an automated central fill pharmacy. The hospital pharmacy is anticipated to witness the fastest growth during the forecast period owing to the adoption of automated technologies by hospitals. For instance, in February 2020, Geisinger, a health provider in the U.S., partnered with Omnicell, Inc. for the implementation of an automated dispensing system.

In 2020, North America dominated the market. This is attributed to the presence of a large number of industry players, such as BD, Omnicell, Baxter, AmerisourceBergen, and Cerner. The majority of the companies such as BD and Baxter generated more than 50% of sales revenue in the U.S. Asia Pacific is anticipated to witness the fastest growth during the forecast period. Rapid adoption in automated solutions, investments in the adoption of healthcare IT infrastructure, and high healthcare spending are the key factors contributing to the growth of the market. Moreover, initiatives by public and private bodies to reduce medication errors are likely to drive the regional market.

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Pharmacy Automation Devices Market Report Highlights

• The market is driven by various technological advancements and increasing investments in the automation sector
• Based on product, the medication dispensing systems segment dominated the market in 2020 owing to the increasing adoption of these products to avoid errors while dispensing medication
• By end-use, the retail pharmacy segment dominated the market in 2020 owing to high adoption rates of these devices and investments by major retail chains, such as CVS Health and Walgreens
• North America dominated the market in 2020 owing to the presence of a large number of automation companies in the region

Pharmacy Automation Devices Market Segmentation

Grand View Research, Inc. has segmented the global pharmacy automation devices market on the basis of product, end-use, and region:

Pharmacy Automation Devices Product Outlook (Revenue, USD Million, 2016 - 2028)

• Medication Dispensing Systems
• Packaging and Labeling Systems
• Storage and Retrieval Systems
• Automated Medication Compounding Systems
• Tabletop Tablet Counters

Pharmacy Automation Devices End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Hospital Pharmacy
• Retail Pharmacy

Pharmacy Automation Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Singapore
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Pharmacy Automation Devices Market

• Amerisource Bergen Corporation
• Accu Chart Plus Healthcare Systems, Inc.
• Omnicell, Inc.
• McKesson Corporation
• Pearson Medical Technologies, LLC
• Baxter
• Talyst, LLC
• ScriptPro, LLC
• CareFusion (Becton Dickinson And Company)
• Medacist Solutions Group, LLC
• Kirby Lester
• Cerner Corporation
• iA
• ARxIUM
• TouchPoint Medical
• Deenova S.R.L
• Parata Systems, LLC
• Swisslog Healthcare
• Yuyama Co. Ltd.

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Medical Device Analytical Testing Outsourcing Market Expectations Acme Prominent Development in Developed Regions, Details Gvr Study

 

Medical Device Analytical Testing Outsourcing Market Growth & Trends

The global medical device analytical testing outsourcing market size is expected to reach USD 9.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.6% from 2021 to 2028. Numerous medical device companies outsource analytical testing operations to minimize business risks, hasten product market entry, and reduce costs. These procedures lead to a significant rise in expenditure levels and, therefore, original equipment manufacturers of medical instruments rapidly switch to outsourcing as one of the effective cost curbing tools.

Implantable Medical Devices (IMDs) are being used increasingly in order to improve patients’ health outcomes. Designers of IMDs have to balance complexity, reliability, power consumption, and costs. Consequently, companies are shifting their focus to innovation rather than non-core activities and, therefore, outsourcing these activities to launch efficient instruments. All these factors are expected to drive the market over the forecast period.

In this complex ecosystem, it is necessary for the equipment to provide accurate results, to have durability, and easy operation. To match these parameters, devices now have to undergo shear checking in accelerated conditions to obtain marketing approval and have a competitive advantage. Conducting this in-house is a matter of time, labor, and cost; outsourcing these tests helps overcome these limitations. For instance, the ISO 10993 has revised the Analytical Evaluation Threshold (AET) for better toxicological safety assessment. Lack of awareness with regards to these tests among the manufacturers of medical instruments may lead to reworking, which is usually avoided when outsourced to third-parties. Hence it is very important to be aware of AET as regulators will review the analytical report to check whether the AET was followed or not. Also, it is the duty of the medical device manufacturer to ensure that AET is applied to the checking process.

Various companies globally have increased the manufacturing of medical devices such as personal protective equipment (PPE) kits, ventilators, and N-95 masks. This has created opportunities for the players in the Testing, Inspection, and Certification (TIC) Market to test and certify these instruments. Many companies such as TÜV SÜD and Eurofins have started checking these medical instruments, thus increasing the demand for analytical testing services from the healthcare industry. Also with increasing cases of COVID-19 globally, the demand for analytical testing services will surge in the coming months.

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Medical Device Analytical Testing Outsourcing Market Report Highlights

• The material characterization segment dominated the market in 2020 and is likely to grow at a lucrative rate during the forecast period
• Other tests that are inclusive of cleaning, reprocessing, method development and validation, accelerated stability testing, biocompatibility, validation checking for packaging materials (container closure permeation), and transport stability are anticipated to witness the fastest growth over the forecast period
• North America accounted for significant market share owing to the fact that it is one of the top manufacturing hubs of highly reliable, complex, and high-end medical instruments, with the presence of abundant service providers

Medical Device Analytical Testing Outsourcing Market Segmentation

Grand View Research has segmented the global medical device analytical testing outsourcing market based on services, therapeutic areas, device type, end-use, and region:

Medical Device Analytical Testing Outsourcing Services Outlook (Revenue, USD Million, 2016 - 2028)

• Extractable and leachable
• Material characterization
• Physical testing
• Bioburden testing
• Sterility testing
• Other tests

Medical Device Analytical Testing Outsourcing Therapeutic Areas Outlook (Revenue, USD Million, 2016 - 2028)

• Cardiology
• Diagnostic Imaging
• Orthopedic
• IVD
• Ophthalmic
• General & Plastic Surgery
• Drug Delivery
• Endoscopy
• Dental
• Diabetes Care
• Others

Medical Device Analytical Testing Outsourcing Device Type Outlook (Revenue, USD Million, 2016 - 2028)

• Reprocessed Devices
  • Hospital
  • Others
• Others

Medical Device Analytical Testing Outsourcing End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Hospital
  • Equipment
  • Consumables
• Others

Medical Device Analytical Testing Outsourcing Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • Japan
  • China
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia

List of Key Players of Medical Device Analytical Testing Outsourcing Market

• SGS SA
• Toxikon, Inc.
• Eurofins Scientific
• Pace Analytical Services, LLC
• Intertek Group plc
• WuXi AppTec.
• NORTH AMERICAN SCIENCE ASSOCIATES INC.
• Envigo
• Charles River Laboratories International Inc.
• Medical Device Testing Services

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Dry Eye Treatment Devices Market to Witness a Pronounce Growth During 2021– 2028

 Dry Eye Treatment Devices Market Growth & Trends

The global dry eye treatment devices market size is estimated to reach USD 414.2 million by 2028, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 6.3% over the forecast period. The increasing demand for targeted, non-invasive, faster, and patient compliant treatment methods to alleviate dry eye symptoms are the factors expected to drive the market growth during the forecast period.

The rising incidence of causative risk factors such as over usage of contact lenses, prolonged exposure to digital screens, diabetes, glaucoma, and Sjogren's syndrome globally is anticipated to propel the growth of the market. For instance, Americans are estimated to spend an average time of more than 10 hours a day at visual display terminals.

The increasing number of clinical and research activities conducted to evaluate the safety and efficacy of advanced dry eye treatment devices such as IPL and BBL will boost market growth. The application of these advanced technologies in eye care is at a nascent stage in many countries, thereby clinical evidence is essential to increase provider confidence over its acceptance. Besides, clinical studies of these technologies are showing promising results in comparison with conventional treatment methods in dry eye treatment.

The availability of alternative treatment, high cost of IPL/BBL treatment, numerous contraindications associated with IPL, and lack of an efficient health insurance policy in several countries are the factors rendering the growth of the dry eye treatment devices market. For instance, the treatment of dry eye syndrome using intense pulsed light (IPL) is not covered under the NHS, a major provider of healthcare service in the U.K.

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Dry Eye Treatment Devices Market Report Highlights

• The MGX technology held the largest market share in 2020 owing to the factors such as frequent product launches, cost-effectiveness, and improving accessibility
• IPL and Combination (IPL+MGX) technologies are expected to grow at the fastest rate during the forecast period due to the factors such as the development of economical and compact-sized IPL devices having versatility in treating skin tone of all types have boosted its installation rate in clinics and ophthalmic centers
• North America held the largest market share in the market and is anticipated to maintain its dominance over the forecast period, attributable to the growing prevalence of dry eye disease, increasing R&D expenditure, and many ophthalmology trade conferences and expos conducted in the U.S. and Canada
• Some of the prominent companies are Lumenis; ESW Vision; Johnson & Johnson Services, Inc.; MiBo Medical Group; Alcon; and Sight Sciences

Dry Eye Treatment Devices Market Segmentation

Grand View Research has segmented the dry eye treatment devices market based on technology and region:

Dry Eye Treatment Devices Technology Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Broadband light (BBL)
• Intense Pulsed Light (IPL)
• Meibomian Gland Expression (MGX)
• Combination (MGX+IPL)

Dry Eye Treatment Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of the Dry Eye Treatment Devices Market

• MiBo Medical Group
• Sight Sciences
• Lumenis
• ESW Vision
• Johnson & Johnson Vision Care
• Alcon, Inc.

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Active Pharmaceutical Ingredient Market is Expected to Amplify $312.56 Billion Value by 2028: Grand View Research Inc.

 

Active Pharmaceutical Ingredient Market Growth & Trends

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

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

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

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

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

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

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Active Pharmaceutical Ingredient Market Report Highlights

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

Active Pharmaceutical Ingredient Market Segmentation

Grand View Research has segmented the global active pharmaceutical ingredients market based on type of synthesis, type of manufacturer, type, application, and region:

Active Pharmaceutical Ingredient Type of Synthesis Outlook (Revenue, USD Billion, 2017 - 2028)

• Biotech
  • Monoclonal Antibodies
  • Recombinant Proteins
  • Vaccines
• Synthetic

Active Pharmaceutical Ingredient Type of Manufacturer Outlook (Revenue, USD Billion, 2017 - 2028)

• Captive APIs
• Merchant APIs

Active Pharmaceutical Ingredient Type Outlook (Revenue, USD Billion, 2017 - 2028)

• Generic APIs
• Innovative APIs

Active Pharmaceutical Ingredient Application Outlook (Revenue, USD Billion, 2017 - 2028)

• Cardiovascular Diseases
• Oncology
• CNS and Neurology
• Orthopedic
• Endocrinology
• Pulmonology
• Gastroenterology
• Nephrology
• Ophthalmology
• Others

Active Pharmaceutical Ingredient Regional Outlook (Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • UAE
  • Saudi Arabia

List of Key Players of Active Pharmaceutical Ingredient Market

• Merck & Co., Inc.
• AbbVie, Inc.
• Bristol-Myers Squibb Company
• Boehringer Ingelheim International GmbH
• Cipla, Inc.
• Teva Pharmaceutical Industries Ltd.
• Albemarle Corporation
• Viatris Inc.
• Aurobindo Pharma
• Sun Pharmaceutical Industries Ltd.
• Reddy’s Laboratories Ltd.

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.