Mexico Medical Cannabis Market Top Players ,Analysis And Forecast Till 2030: Grand View Research Inc.

 Mexico Medical Cannabis Market Growth & Trends

The Mexico medical cannabis market size is expected to reach USD 117.7 million by 2030. It is projected to grow at a CAGR of 49.0% between 2022 and 2030, as per a new report by Grand View Research, Inc.Favorable government policies are projected to boost the acceptance of cannabis-derived products in the next years. This is the main factor driving the growth of the market.

In addition, the industry is likely to benefit from an increase in user acceptance of Cannabidiol (CBD) due to its numerous health benefits. CBD is being utilized to treat a growing number of chronic ailments. In light of recent regulations being set around the use, production, as well as sale of cannabis specifically for use in medicinal purposes, will aid in the monitoring of products entering the supply chain while also allowing the government to benefit from taxes collected through these products.

Due to the high population density and a big patient pool, medical cannabis is likely to become one of the most profitable industries in Mexico in the coming years. As per WHO, in 2020, 195,499 new cases of cancer were detected in Mexico. Various research studies have demonstrated CBD’s potential benefits in nausea suppressing quality of cancer, resulting in an increase in its use in cancer patients. Chronic pain due to a variety of diseases and conditions as well as old age has been on the rise in the past few years, medical cannabis has been studied extensively in reducing the perception of pain.

Extracts from the plant in form of oil, like CBD oil has been on the market around the world, for quite some time and is increasingly being seen as an alternative treatment for chronic pain. The Global Pain Index study, conducted by GSK in 2020, studied 1,000 individuals each, from 19 countries, the data collected revealed, that pain prevalence among Mexican individuals is nearly 98%. Due to legalization, it has become easier for patients as well as medical practitioners to prescribe it for chronic pain and hence has resulted in the growth of the medical cannabis market in Mexico.

An increase in the geriatric population is also linked to a likely increase in the consumption of medical-grade cannabis. The older generation is more susceptible to chronic conditions including arthritis, chronic pain, Alzheimer’s disease, and Parkinson’s disease. thus can be identified as a potential patient population, likely to use medical-grade cannabis. As per WHO, the geriatric population in Mexico is likely to increase by over 270% by 2050.

In a study published in The International Study for the Study of Pain, the data was collected between 2001-2018, a Mexican Health and Ageing Study, representing the Mexican population over 50 years of age or older. The two pain categories, low-stable and moderate-increasing were found to be 81.88% and 18.12%, respectively.

A study conducted by GSK in 2020, studying populations across 19 countries found that 67% of the study population in Mexico reported that pain severely impacts their quality of life. The segments such as Epilepsy and Tourette’s syndrome are anticipated to grow at a substantial rate owing to the increasing number of studies that showed positive results of its use in reducing the symptoms associated with these conditions. These factors are bolstering the growth of the medical cannabis market in Mexico.

In Mexico, licenses for growing, harvesting, and manufacturing are only available for therapeutic and research purposes. Xebra Brands is currently one of the pioneering companies, authorized by the government to import, cultivate and process cannabis into CBD and CBG products. The company has exclusive rights to sell its products both domestically and internationally.

During COVID, the demand for cannabis increased, and due to the local supply in abundance, the market witnessed significant growth. The legalization of medical cannabis has rendered it more easily available and has thus propelled the growth of the market. Due to government initiatives, cultivators of cannabis are also increasing in the region and can significantly help the entire economy to grow, medical tourism, and increased revenues through taxes are all major contributors that are poised to propel the growth of Mexico’s medical cannabis market.

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Mexico Medical Cannabis Market Report Highlights

• The marketis anticipated to witness steady growth over the forecast period as medical cannabis is being utilized to treat a growing number of chronic ailments
• Flowers, in the product category emerged as the largest segment in 2021 due to their price and easy availability
• Chronic pain had the highest revenue share based on application, owing to the fast use of CBD as an alternative to opioids and synthetic medications for the treatment of chronic pain

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Mexico Medical Cannabis Market Segmentation

Grand View Research, Inc. has segmented the Mexico medical cannabis productmarket based on product and application:

Mexico Medical Cannabis Product Outlook (Revenue, USD Million, 2017 - 2030)

• Flowers
• Oils &Tinctures

Mexico Medical Cannabis Application Outlook (Revenue, USD Million, 2017 - 2030)

• Cancer
• Chronic Pain
• Depression & Anxiety
• Arthritis
• Diabetes
• Glaucoma
• Migraines
• Epilepsy
• Multiple Sclerosis
• AIDS
• Amyotrophic Lateral Sclerosis
• Alzheimer’s Disease
• Post-Traumatic Stress Disorder (PTSD)
• Parkinson’s Disease
• Tourette’s Syndrome
• Others

List of Key Players in the Mexico Medical Cannabis Market

• Aurora Cannabis
• CANOPY GROWTH CORPORATION
• GW Pharmaceuticals, plc
• Jazz Pharmaceuticals, Inc
• CBD Life
• HempMeds
• Isodiol International Inc.
• com
• Elixinol
• ENDOCA

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.

U.S. Medical Billing Outsourcing Market Size Projected to Rise Lucratively during 2022 to 2030: Grand View Research Inc.

 U.S. Medical Billing Outsourcing Market Growth & Trends

The U.S. medical billing outsourcing market size is expected to reach USD 12.3 billion by 2030, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.34% from 2022 to 2030. Increasing complexity in health reimbursement and high chances of claim denials are expected to drive the market. The growing burden of the patient pool, patient data, and billing volumes during and after the pandemic forced the hospital industry to outsource medical billing services. This is expected to propel the growth of the market during the forecast period.

Additionally, challenges faced by the in-house billing service during the pandemic era increased the need for an alternative i.e. outsourcing the billing services. The challenge mounts when the billing process mandates adherence to the International Classification of Diseases-11th (ICD-11) code along with dealing with rising healthcare costs and declining reimbursements. In order to curb or alleviate these challenges, several healthcare providers, such as acute care hospitals and clinics/physician offices, prefer outsourcing their billing processes. According to the Medical Group Management Association, around 73% of physicians found a reduction in the ARA days due to the addition of outsourcing and posed the higher collections.

Acceptance of Revenue Cycle Management (RCM) in various healthcare facilities varies with application. Scheduling, coding, billing, patient registration, and claims processing are adopted more than other RCM applications in the U.S. Advantages associated with outsourcing of medical billing services include improvement in the billing process by decreasing errors, swift turnaround time, and smooth administrations for hospitals and other medical institutes.

Moreover, the pandemic drastically impacted the U.S. market for medical billing outsourcing. The reduction in hospital revenue and patient volumes slowed down the market growth. New billing and telehealth codes were introduced during the pandemic. The growing patient burden and increased workload on healthcare staff posed a challenge to adapt new codes as well as implement them into the setting. The medical billing providers have spent significant amounts on the billing resources and technology, which can be utilized by the healthcare providers after outsourcing the billing process.

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U.S. Medical Billing Outsourcing Market Report Highlights

• Based on component, the outsourced segment is expected to witness the highest growth during the forecast period owing to the growing focus on minimizing the cost of healthcare delivery and improving patient and physician relationship
• By service, the front-end services segment dominated the market in 2021 as these services increase downstream cash flow and decrease rework and cost to collect
• The middle-end services segment is expected to register the fastest growth rate during the forecast period. This is attributed to the growing awareness about billing outsourcing among healthcare practitioners and the rising adoption of the middle-end services among them
• By end-use, the hospitals segment accounted for the largest revenue share in 2021 owing to the high claim volumes and rising patient burden. Additionally, errorless billing procedures and minimization of loss due to denial of payments are the benefits associated with the medical billing outsourcing, which leads to the rising adoption in multispecialty hospitals

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U.S. Medical Billing Outsourcing Market Segmentation

Grand View Research has segmented the U.S. medical billing outsourcing market based on component, service, and end-use:

U.S. Medical Billing Outsourcing Component Outlook (Revenue, USD Million, 2017 - 2030)

• In-house
• Outsourced

U.S. Medical Billing Outsourcing Service Outlook (Revenue, USD Million, 2017 - 2030)

• Front-end services
• Middle-end services
• Back-end services

U.S. Medical Billing Outsourcing End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Hospitals
• Physician Offices
• Others

List of Key Players in U.S. Medical Billing Outsourcing Market

• R1RCM Inc.
• Allscripts Healthcare, LLC
• Cerner Corporation
• eClinicalWorks
• Kareo, Inc.
• McKesson Corporation
• Quest Diagnostics Incorporated
• Promantra Inc.
• AdvancedMD, 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.

North America Legal Cannabis Market Precise Analysis on Business Overview, Product Scope And Ongoing Development 2030

 North America Legal Cannabis Market Growth & Trends

The North America legal cannabis market size is expected to hit USD 47.5 billion by 2030, registering a CAGR of 15.3% from 2022 to 2030, as per a new report by Grand View Research, Inc. The market is likely to see a marginal increase in demand due to the changing government policies for product legalization and use. Off-late, the population across North America has been made aware of the benefits entailing the use of cannabis for multiple indications. Many start-ups and the federal & private organizations are taking up research and production activities of cannabis-infused products and derivatives, which is further going to propel the market growth.

The use of cannabis has been more prevalent in the form of dried flowers and buds, up until its legalization, it was sold as an illicit drug across North America due to its psychoactive properties and addictive nature. The product usage in medicine is being propelled by the fact that in most products, THC, the compound present in cannabis, responsible for its psychoactive properties, is often omitted or is present in trace amounts. It is still a federally illegal drug but has been legalized in small amounts, majorly for use as medicine for the treatment of chronic pain, neurological conditions, etc. This has been a key factor in the growth of the market as well as a reason behind the vast rate of legitimization of the drug across the region.

Cultivation and production of cannabis and related products have also had a huge economic impact on the region’s economy. In 2021, the U.S. collected USD 3.7 billion in tax revenues for legal cannabis, which was almost twice what it was in 2019. Its legalization is bound to create more jobs, and income for cultivators, manufacturers, etc., and developing interest in the industry has also led to an increase in the number of organizations wanting to invest, thereby propelling the market growth. The marijuana source type segment held the largest market share in 2021. Marijuana consisting of flowers, oils, and tinctures has been used extensively in the region for decades.

It has also been decriminalized and is legal in the majority of the states across the U.S. and Canada, which has contributed to the high revenue share of the segment. It has also been legalized for recreational use in a number of states which has contributed significantly to increasing sales, resulting in the fast growth of the segment as well. Cannabidiol (CBD) as a derivative is being extensively used for medications in various indications including, epileptic seizures, chronic pain, and nausea induced by chemotherapy along with many others making it the highest share-holding category in the derivatives segment. Cannabidiol became legal in 2018, and since then it has been used in making medicines, ointments, etc. for various indications.

The other derivatives segment is estimated to register the fastest CAGR from 2022 to 2030. The others segment includes minor cannabinoids, terpenes, and flavonoids, which are used for their benefits for multiple indications. The medical end-use segment held the largest share of the overall revenue in 2021. Cannabis has been legalized in more than 30 states for use in medicinal preparations. The recreational use segment is estimated to record the fastest CAGR from 2022 to 2030. In 2020 and 2021, since its legalization for recreational purposes, it is now being sold over the counter at dedicated stores, thus has been responsible for the overall market growth.

The production and processing of cannabis-derived goods in the U.S., the presence of a huge pool of health-conscious consumers, and the presence of significant manufacturers in the region are propelling the industry growth. In addition, the COVID-19 pandemic had an adverse impact on the market. Several dispensaries, such as Bud and Bloom, had a 30.0% surge in weekly sales, according to the Orange County Register, on March 17, 2020. In February 2022, Groff North America, a federally, legal producer of cannabis, gained multiple schedule I registrations from the DEA, including bulk manufacturing, non-bulk manufacturing, exporter, researcher as well as the analytical lab. This is a major step for the regional market.

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North America Legal Cannabis Market Report Highlights

• The market will grow at a significant rate due to increasing product legalization and rising awareness among consumers about the health benefits of the product
• The marijuana source type segment led the market in 2021 due to the increased legalization and its usage for medical purposes
• The CBD derivatives segment dominated the market in 2021 due to the increased use of CBD for various medical applications and awareness about CBD’s effectiveness in the treatment of various medical diseases
• The recreational end-use segment held the largest revenue share in 2021 due to increased use of cannabis for recreational purposes and high awareness regarding cannabis usage

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North America Legal Cannabis Market Segmentation

Grand View Research has segmented the North America legal cannabis market based on source, derivation, end-use, and country:

North America Legal Cannabis Source Outlook (Revenue, USD Million, 2017 - 2030)

• Marijuana
  • Flowers
  • Oil & Tinctures
• Hemp
  • Hemp CBD
  • Supplements
  • Industrial Hemp

North America Legal Cannabis Derivatives Outlook (Revenue, USD Million, 2017 - 2030)

• CBD
• THC
• Others

North America Legal Cannabis End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Medical Use
  • Chronic Pain
  • Anxiety & Depression
  • Cancer
  • Arthritis
  • Diabetes
  • Glaucoma
  • Migraines
  • Epilepsy
  • Multiple Sclerosis
  • AIDS
  • Amyotrophic Lateral Sclerosis
  • Alzheimer’s
  • Post-traumatic Stress Disorder (PTSD)
  • Parkinson’s
  • Tourette’s
  • Others
• Recreational Use
• Industrial Use

North America Legal Cannabis Country Outlook (Revenue, USD Million, 2017 - 2030)

• US.
• Canada

List of Key Players of North America Legal Cannabis Market

• Insys Therapeutics, Inc.
• SUNDIAL
• Cara Therapeutics
• Tilray
• Aurora Cannabis
• The Cronos Group
• Jazz Pharmaceuticals, 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.

Asset Performance Management Market Predicted to Witness Steady Growth During the Forecast Period

 Asset Performance Management Market Growth & Trends

The global asset performance management market size is expected to reach USD 47.18 billion by 2030, registering a CAGR of 11.8% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The market has evolved in response to technological advancements and the changing needs of incumbents in many end-use industries and sectors, particularly small and medium businesses. The market for asset performance management is predicted to increase due to the increasing usage of asset performance management (APM) solutions to achieve operational excellence. Companies are becoming more capable of maximizing the use and upkeep of their operational assets, such as plants, equipment, and infrastructure. Heavy machinery, heavy equipment, turbine engines, power transformers, and other assets are among the assets that firms adopting APM systems regularly monitor.

The market witnessed significant growth during the COVID-19 pandemic. Growth in the adoption of the work-from-home model by organizations created the need for secure, scalable, reliable, and cost-effective off-premises and virtual technology services. Organizations from all sectors invested considerably in cloud computing solutions to facilitate their operations and engage clients and employees effortlessly. Thus, asset performance management provided several growth opportunities to marketers during the pandemic.

The asset performance management system includes various solutions such as asset strategy and risk management, predictive asset management, reliability-centered maintenance, and condition-based maintenance, among others. These have a high demand from end-use industries such as energy & utilities, mining & metal, oil & gas, and manufacturing. The manufacturing industry is expected to emerge as one of the prominent markets in terms of revenue over the forecast period. The APM systems, coupled with IIoT, and increasing adoption of cloud solutions are expected to be the crucial factors for the steady growth of the market. Moreover, cloud-based APM systems are enabling companies to manage their assets cost-effectively.

The energy & utilities industry segment holds the largest share owing to the high number of customers who are actively investing in APM systems to manage their assets. For instance, Tata Power, one of the largest power companies in India, is leveraging AVEVA Group plc’s PRiSM Predictive Asset Analytics for equipment problems and early warning notification. The APM system helped Tata Power to achieve improved reliability and performance of their critical assets. Additionally, the system contributed to control the maintenance costs through its predictive analysis

Furthermore, the market is highly competitive and fragmented, wherein few companies hold the maximum market share. Consistent dominance in the market by legacy companies can be attributed to investments in research and development of advanced cloud-based services, which has been one of the key factors driving their revenues. However, growth in the introduction of advanced cloud solutions and related offerings by start-ups is also creating significant traction in the global market.

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Asset Performance Management Market Report Highlights

• The market is gaining traction owing to the rapid industrial shift towards digitization of monitoring and maintenance activities. The companies are actively investing in digital solutions to manage their assets.
• The use of advanced processes and tools such as regression analysis, neural network analysis, Monte Carlo simulation, and so on in the APM systems is driving the growth of the predictive asset management segment.
• The public cloud segment is expected to register significant growth over the forecast period as it helps businesses in improving cost structures and setting up a control center to arrange, monitor, and coordinate various components of their businesses.
• The manufacturing industry segment is held a significant share in the market owing to the presence of many small and large manufacturing plants across the globe.
• Asia Pacific is anticipated to register the highest growth rate over the forecast period owing to the increasing popularity of social media, growing investments by tech giants in establishing IT infrastructures in this region, and the rising preference for e-commerce and m-commerce, particularly in emerging economies such as India, Indonesia, and Thailand.

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Asset Performance Management Market Segmentation

Grand View Research has segmented the global asset performance management market based on category, deployment, vertical, and region:

Asset Performance Management Category Outlook (Revenue, USD Million, 2017 - 2030)

• Predictive Asset Management
• Asset Reliability Management
• Asset Strategy Management
• Others

Asset Performance Management Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• On-premise
• Hosted
  • Public Cloud
  • Private Cloud

Asset Performance Management Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• Energy & Utilities
• Oil & Gas
• Manufacturing
• Metal & Mining
• Transportation
• Government & Public Sector
• Chemicals & Pharmaceutical
• Others

Asset Performance Management Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Mexico
• MEA

List of Key Players in Asset Performance Management Market

• AVEVA Group plc
• ABB Ltd
• Aspen Technology, Ltd
• Bentley Systems, Incorporated
• SAP SE
• Siemens AG
• SAS Institute, Inc.
• International Business Machines Corporation
• GE Digital
• DNV GLAS
• Rockwell Automation

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.

Global Demand for Therapeutic Contact Lenses Market to Incur Considerable Upsurge During 2022– 2030: Grand View Research Inc.

 Therapeutic Contact Lenses Market Growth & Trends

The global therapeutic contact lenses market size is expected to reach USD 7.08 billion by 2030, registering a CAGR of 7.13% from 2022 to 2030, according to a new report by Grand View Research, Inc. Therapeutic contact lenses can help repair tissue, manage pain, and maintain visual acuity, thereby surging its preference among individuals. Increasing adoption of therapeutic contact lenses among the developing economies after ocular surgery is estimated to surge the demand for therapeutic contact lenses. 

The increasing prevalence of glaucoma is anticipated to surge the demand for therapeutic contact lenses during the forecast period. For instance, as per the WHO, the number of people with glaucoma disorder is projected to rise from 76 million in 2020 to 95 million across the globe by 2030. Several researchers across the countries including China, U.K., and others are focusing on developing therapeutic smart contact lenses that will monitor eye pressure and treat glaucoma. 

Therapeutic lenses are used to manage a wide variety of corneal conditions including corneal erosions, corneal epithelial defects, bullous keratopathy, and postsurgical disorders such as post-laser vision correction and post-keratoplasty. Increasing application of therapeutic contact lenses in the treatment of eye disorders is anticipated to foster the overall market growth. 

The effects of the ongoing COVID-19 pandemic, as well as the mitigation measures, may continue to have a material adverse impact on the market. In initial 2020, almost every major market began to implement business shutdowns, including clinics of eye care professionals, and the delay of non-urgent surgical ophthalmic procedures, leading to a global economic stoppage. Such activities have caused disruptions to the operations, supply chain, facilities, and associate workforce, hindering the supply chain of medical devices including therapeutic contact lenses. 

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Therapeutic Contact Lenses Market Report Highlights

• Soft lens segment held the largest market share in 2021 as soft lenses are easier to adjust and are more comfortable than rigid lenses.
• Corneal surgery/disorders segment held significant market share in 2021 owing to the increasing number of corneal surgeries that require therapeutic contact lens for pain relief.
• E-commerce segment is anticipated to gain the highest market share during the forecast period due to the easy accessibility of contact lensesin less time via e-commerce and rising consumer preference for online shopping.
• North America was the leading region in 2021 owing to the increasing demand for therapeutic contact lens, which is used for the treatment of several ocular diseases.
• The Asia Pacific region is expected to grow at the fastest growth rate during the forecast period due to the rising number of surgeries in phototherapeutic keratectomy across several countries of Asia.
• Some of the major players include Bausch & Lomb Incorporated, Advanced Vision Technologies, Contamac, Alcon, Surgitech Innovation, Johnson & Johnson Vision Care, CooperVision, and X-Cel Specialty Contacts. 

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Therapeutic Contact Lenses Market Segmentation 

Grand View Research has segmented the global therapeutic contact lenses market based on product type, application, distribution channel, and region:

Therapeutic Contact Lenses Product Type Outlook (Revenue, USD Million; 2017 - 2030)

• Soft Lens
  • Silicon hydrogel
  • Hydrogel
  • Others
• Rigid Lens

Therapeutic Contact Lenses Application Outlook (Revenue, USD Million; 2017 - 2030)

• Corneal Surgery/Disorders
• Post Ocular Surgery
• Drug Delivery
• Others

Therapeutic Contact Lenses Distribution Channel Outlook (Revenue, USD Million; 2017 - 2030)

• Retail
• E-commerce
• Others

Therapeutic Contact Lenses Regional Outlook (Revenue, USD Million; 2017 - 2030)

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

List of Key Players in Therapeutic Contact Lenses Market

• Bausch & Lomb Incorporated
• Advanced Vision Technologies
• CooperVision
• VISTAKON (division of Johnson & Johnson Vision Care, Inc.)
• X-Cel Specialty Contacts
• Contamac
• Excellent Hi-Care Pvt Ltd
• Alcon
• Surgitech Innovation
• UltraVision CLPL

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.

Catheter Market to Expand at a CAGR of 6.5% Through 2030: Grand View Research Inc.

 Catheter Market Growth & Trends

The global catheter market size is anticipated to reach USD 85.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2022 to 2030. An increasing number of surgeries due to a rise in the number of chronic ailments such as diabetes, cardiovascular disorders, urological disorders, end-stage renal diseases, and other chronic conditions is expected to increase the adoption rate of catheters, thus driving the market over the forecast period.

COVID-19 is expected to have a positive impact on the market. According to National Center for Biotechnology Information (NCBI) in 2020, during the early stages of the COVID-19 pandemic, the use of both indwelling urinary catheters and Central Venous Catheters (CVC) increased, which is projected to boost market growth. Moreover, several manufacturers offering products such as coated urine catheters with temperature monitoring to ICU patients as a stronger protection against secondary infections, which is expected to boost market growth in the coming years.

Furthermore, technological advancements plays crucial role in fueling the market growth. For instance, miniaturized catheters and introduction of antimicrobial catheters to reduce catheter-associated infections are expected to favor the catheter market growth. MAHURKAR Chronic Carbothane catheter, developed by Medtronic, is made of Carbothane, which facilitates a simple single-insertion technique and ensures superior kink resistance. The catheter delivers high flow rates with low arterial and venous pressures.

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Catheter Market Report Highlights

• On the basis of product type, the cardiovascular catheters segment dominated the market in 2021 with the share of a 28.02%. Rise in the prevalence of cardiovascular disorders which in turn, is increasing the demand for interventional cardiac procedures
• Based on the distribution channel, the hospital stores segment dominated the market in 2021 with a share of 53.83% owing to an increase in the number of hospital admission rates and an upsurge in surgical procedures globally
• North America dominated the market with the highest revenue share of 31.94% in 2021 owing to a high incidence rate of chronic disorders as well as the availability of highly skilled physicians in this continent

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Catheter Market Segmentation

Grand View Research has segmented the global catheter market on the basis of product type, distribution channel, lumen, end-user and region:

Catheter Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiovascular Catheters
  • Electrophysiology Catheters
  • PTCA Balloon Catheters
  • IVUS Catheters
  • PTA Balloon Catheters
• Urology Catheters
  • Hemodialysis Catheters
  • Peritoneal Catheters
  • Foley Catheters
  • Intermittent Catheters
  • External Catheters
• Intravenous Catheters
  • Peripheral Catheters
  • Midline Peripheral Catheters
  • Central Venous Catheters
• Neurovascular Catheters
• Specialty Catheters
  • Wound/Surgical Catheters
  • Oximetry Catheters
  • Thermodilution Catheters
  • IUI Catheters

Catheter Lumen Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital Stores
• Retail Stores
• Others

Catheter Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Single-lumen
• Double-lumen
• Triple-lumen

Catheter End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Ambulatory Surgical Centers
• Long-term Care Facilities
• Others

Catheter Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in Catheter Market

• Hollister Incorporated
• Medtronic
• Boston Scientific Corporation
• Edwards Lifesciences
• Smith Medical Inc.
• Teleflex Incorporated
• ConvaTec Group Plc
• Cure Medical LLC

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.

Prebiotics Market Poised to Expand at a Robust Pace of USD 21.2 Billion Over 2030: Grand View Research Inc.

 Prebiotics Market Growth & Trends

The global prebiotics market size is expected to reach USD 21.2 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 14.9% over the forecast period. The growing demand for fiber-rich food products is expected to drive the market. Rising investments in the food & beverage industry for innovation and development of new food products enriched with prebiotics coupled with the rising demand in dietary supplements application, particularly in infant foods are expected to propel market growth over the forecast period. In addition, the rising use of prebiotics in animal feed is expected to drive the demand. High emphasis on improving overall health is also expected to fuel product demand over the forecast period.

The emergence of prebiotics as an alternative to antibiotics is expected to fuel demand in animal feed applications. Increasing dairy production is expected to have a positive impact on the market over the estimated period. The demand for prebiotics is also influenced by the rising consumer inclination toward slimming food products and supplements, especially among sports enthusiasts. These products help athletes restore energy, improve muscular endurance, and minimize body wear & tear. Growing consumer interest in weight management, especially in working professionals, owing to the increasing concerns regarding obesity is expected to amplify the utilization of prebiotics over the next few years.

North America accounted for a significant market share in 2021 and will expand further at a steady CAGR due to the rising focus on preventive healthcare and demand for prebiotics-enriched foods. The growing innovation in the field of prebiotic-rich protein/fiber supplements is also expected to propel the segment growth over the forecast period. The global industry was highly fragmented on account of the presence of numerous players. Key companies have a global reach owing to their large number of manufacturing facilities and sales offices spread across the major continents.

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Prebiotics Market Report Highlights

• The inulin ingredients segment accounted for the largest revenue share in 2021 due to wide usage in the treatment of diabetes on account of its high antioxidant activity
• Moreover, other health benefits coupled with easier availability from natural sources including banana and garlic are expected to drive the product demand
• Galacto-oligosaccharides(GOS) accounted for a significant revenue share in 2021 owing to the growing use in dietary supplements
• GOS has several health benefits including improving bone mineralization by enhancing calcium absorption, preventing colon cancer, stimulating bifidobacteria growth, and substituting human milk oligosaccharides. These health benefits are expected to drive the market demand
• The dietary supplements application segment is expected to register the fastest CAGR from 2022 to 2030 due to the increasing consumption in Europe and North America owing to rising health consciousness and the growing importance of prebiotics in weight management

Access Press Release@ https://www.grandviewresearch.com/press-release/global-prebiotics-market

Prebiotics Market Segmentation

Grand View Research has segmented the global prebiotics market on the basis of ingredients, application, and region:

Prebiotics Ingredients Outlook (Volume, Kilotons, Revenue, USD Million, 2017 - 2030)

• Fructo-oligosaccharide (FOS)
• Inulin
• Galacto-oligosaccharides (GOS)
• Mannan-oligosaccharide (MOS)
• Others (Oligosaccharides, Chicory Fructans, HMO, XOS)

Prebiotics Application Outlook (Volume, Kilotons, Revenue, USD Million, 2017 - 2030)

• Prebiotic Food & Beverages
  • Dairy Products
  • Cereals
  • Baked Food
  • Fermented Meat Products
  • Dry Food Prebiotics
  • Others
• Prebiotic Dietary Supplements
  • Food Supplements
  • Nutritional Supplements
  • Specialty Nutrients
  • Infant Foods
• Animal Feed Prebiotics

Prebiotics Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • The Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • New Zealand
• Latin America
  • Brazil
• Middle East & Africa

List of Key Players of Prebiotics Market

• Abbott Laboratories
• BENEO GmbH
• Bright Food (Group) Corp. Ltd.
• Cargill, Inc.
• Kraft Foods Group, Inc.
• Cosucra Groupe Warcoing SA
• The Kraft Heinz Company
• FrieslandCampina
• Jarrow Formulas, Inc.
• Parmalat S.p.A
• Roquette Frères
• Royal Cosun
• Yakult Honsha 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.

Wound Dressing Market Projected to Discern Stable Expansion by 2030

 Wound Dressing  Market Growth & Trends

The global wound dressing market size is expected to reach USD 19.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.3% from 2022 to 2030. Increasing number of people suffering from chronic wounds, rise in technologically advanced dressing and rising cases of traumatic accidents are expected to be the key driving factors for the market.

There has been increase in number of people suffering from chronic disorders such as diabetes, as a result, the number of people suffering from diabetic foot ulcers are increasing. For instance, as per International Diabetes Federation, an estimated population of 61 million people aged between 20-79 years living in Europe were suffering from diabetes. Similarly, according to NCBI, the incidence rate of diabetes foot ulcers globally is between 9.1 million to 26.1 million annually. Thus, the rise in diabetes and diabetic foot ulcer patients is increasing the demand for wound dressing products, thereby impelling the market over the forecast period.

Moreover, there has been global increase in number of traumatic accidents such as burns, gunshots and road accidents. For instance, according to stats by WHO, approximately 11 million burn cases occur worldwide, which leads to 180,000 deaths globally, Similarly, as per NCBI, every day, more than 30,000 burn cases are registered globally. Therefore, the rising global number of burn cases is anticipated to impel market growth over the forecast period.

The outbreak of COVID-19 resulted in nationwide lockdown worldwide, as a result the growth of market was restricted to a certain extent. However, the market is projected to witness a significant growth rate during the post-pandemic period. This can be attributed to various strategies such as product launches, partnerships, and geographic expansion used by leading market players. For instance, in December 2020, Molnlycke Health Care AB, launched a new distribution in the U.K. It was a strategic move, strengthening their supply chain to increase the product reach in the U.K. population. Thus, as a result of aforementioned factors, the market is expected to have a significant growth during the post-pandemic period, thereby, propelling the market.

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Wound Dressing Market Report Highlights

• On the basis of product, the advanced dressing segment dominated the market and accounted for a revenue share of 55.1% in 2021, and is projected to witness fastest growth rate over the forecast period. This can be attributed to rising cases of traumatic accidents globally
• Based on application, the chronic wounds segment dominated the market and is anticipated to witness fastest CAGR of 5.6% over the forecast period
• The hospitals segment, dominated the market and accounted for revenue share of 45.1% in 2021. Whereas, the home healthcare segment is expected to witness the fastest growth rate of 5.9% over the forecast period. The growth rate can be attributed to rise in awareness among the public
• North America dominated the market and accounted for revenue share of 45.4% in 2021, however, Asia-Pacific region is projected to witness the fastest growth rate over the forecast period. This can be attributed to the rising geriatric population and increase in number of people suffering from diabetes

Access Press Release@ https://www.grandviewresearch.com/press-release/global-wound-dressings-market

Wound Dressing Market Segmentation

Grand View Research has segmented the global wound dressing market on the basis of product, application, end-use, region:

Wound Dressing Product Outlook (Revenue, USD Million, 2018 - 2030)

• Traditional Dressing
  • Gauze
  • Tape
  • Bandages
  • Cotton
• Advanced Dressing
  • Moist Dressing
    • Foam Dressing
    • Hydrocolloid Dressing
    • Film Dressing
    • Alginate Dressing
    • Hydrogel Dressing
    • Collagen Dressing
    • Other Advanced Dressing
  • Antimicrobial Dressing
    • Silver Dressing
    • Non-silver Dressing
  • Active Dressing
    • Biomaterials
    • Skin-substitute

Wound Dressing Application Outlook (Revenue, USD Million, 2018 - 2030)

• Chronic Wounds
  • Diabetic Foot Ulcers
  • Pressure Ulcers
  • Venous Leg Ulcers
  • Other Chronic Wounds
• Acute Wounds
  • Surgical & Traumatic Wounds
  • Burns

Wound Dressing End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Specialty Clinics
• Home Healthcare
• Others

Wound Dressing Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in Wound Dressing Market

• 3M
• Coloplast Corp.
• Medline Industries
• Smith & Nephew
• Medtronic
• ConvaTec Group PLC
• Derma Sciences (Integra LifeSciences)
• Ethicon (Johnson & Johnson)
• Baxter International
• Molnlycke Health Care AB

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.

Fuel Cell Vehicle Market to Reach Around USD 36.89 Billion by 2030: Grand View Research Inc.

 Fuel Cell Vehicle Market Growth & Trends

The global fuel cell vehicle market size is expected to reach USD 36.89 billion by 2030 with a CAGR growth of 49.9% in the forecast period, according to a new report by Grand View Research, Inc. Factors such as strict environmental laws, the availability of incentives and subsidies for clean fuels, and hazardous gas emissions from combustion engine are the key drivers driving the global growth of the fuel cell vehicle market. Vehicle emissions have a negative influence on the environment and human life, and several government agencies have enacted rigorous emission regulations. As long as regulatory rules are met, fuel cell vehicles will be in high demand. The growing awareness among manufacturers of the damage caused by car emissions on the environment and the development of alternative powertrains is fueling the market growth.

The government's major goal in developed countries is to develop and install hydrogen refueling stations. The government's primary goal in developing countries is to design a strategic plan for the commercial roll-out of fuel cell technology. Therefore, the urgent need for infrastructure investment is another aspect driving market growth. To boost the market growth for the fuel cell vehicle market, several countries such as Australia, Canada and South Korea are aiming for a full range of hydrogen filling stations across the world.

Although, fuel cell vehicles are expensive and hydrogen (per kilo) is expensive in some locations, these reasons are impeding the growth of the fuel cell vehicle market. It is a scalable and adaptable electrical source for big transportation applications such as material handling trucks, buses, railroads, defense vehicles, and light commercial vehicles (LCVs). In commercial applications, it is also employed as a stationary fuel source. Furthermore, rising government attempts to promote fuel cells for transportation provide the potential for the fuel cell vehicle market to develop.

The North America and Asia Pacific is expected to witness positive market growth owing to the increased adoption of passenger and commercial electric vehicles. The markets are experiencing strong advocacy to make fuel cell vehicles mainstream due to its positive impact on the environment. The government in the Asia Pacific are also promoting the uptake of fuel cell vehicle by providing subsidies to the buyers. Thus, propelling the market growth.

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Fuel Cell Vehicle Market Report Highlight

• The market is expected to register growth due to increased crude oil prices and increasing concentration of carbon emission
• The governments of developed and developing countries are actively investing in fuel cell technology and infrastructure
• The passenger car segment is expected to witness growth owing to extensive usage for commuting and supply chain purpose
• The industry's progress is limited by a failing distribution network, fear of electric shock, and flammability owing to the chemical attribute of hydrogen fuel cells, which act as a limitation on the market's growth

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Fuel Cell Vehicle Market Segmentation

Grand View Research has segmented the global Fuel Cell Vehicle market report based on vehicle type, and region:

Fuel Cell Vehicle Type Outlook (Revenue, USD Billion; 2018 - 2030)

• Passenger Cars
• LCV’s
• HCV’s

Fuel Cell Vehicle Regional Outlook (Revenue, USD Billion; 2018 - 2030)

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

List of Key Players in Fuel Cell Vehicle Market

• Daimler AG
• Honda Motors Co. Ltd.
• Nikola Corporation
• Toyota Motor Corporation
• Hyundai Motor Group
• Ballard Power System Inc.
• Volvo AB
• General Motors
• BMW AG
• Audi AG

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.

Battery Recycling Market Estimated To Flourish By 2030: Grand View Research Inc.

 Battery Recycling Market Growth & Trends

The global battery recycling market size is expected to reach USD 19.9 billion by 2030, registering a CAGR of 7.6% during the forecast period, according to a new report by Grand View Research, Inc. The presence of stringent government regulations is expected to have a positive impact on the market during the coming years.

Transportation application is expected to witness rapid growth in the battery recycling market. Growing demand for lithium-ion batteries in electric vehicles and portable devices, on account of their high efficiency, long life, and low maintenance is expected to positively impact the demand for recycled products.

The industry is price-driven, which in turn is expected to restrain the market growth during the forecast period. Price becomes a key differentiating factor as most recyclers make use of more or less the same technology. High competition among the players does not allow large variation in the prices, thereby reducing the profitability of recycling firms.

Companies are making efforts to improve their competitiveness by setting up new collection centers and recycling plants. Moreover, new processes are being developed to bring down costs & combat environmental pollution. ECOBAT has developed its own collection system to gather spent batteries. Furthermore, new processes are being developed to reduce costs and prevent environmental pollution.

For instance, in January 2021, Li-cycle began construction of a Li-ion battery recycling facility in New York, U.S. When operational, the facility is expected to have a capacity of 25.0 metric kilotons of battery waste, retrieving 95.0% or more of the lithium, nickel, cobalt, and other precious components with the zero-emissions and wastewater process.

Lockdowns implemented due to the COVID-19 led to a temporary halt on import and export along with manufacturing and processing activities, across multiple industries, reducing demand for the batteries from a variety of automotive and non-automotive end-users.

As a result, there was a negative impact on the market growth in 2020. However, the market has been gradually recovering since 2021 due to a significant increase in use and demand for consumer electronics such as smartphones, tablets, and laptops, during the pandemic. Furthermore, globally increased demand for electric vehicles is expected to drive the transportation application segment of the battery recycling market during the forecast period.

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Battery Recycling Market Report Highlights

• The lithium-ion segment is expected to register a CAGR of 8.8% from 2022 to 2030, due to the growing demand from the electric vehicle industry
• The lead-acid category dominated the battery recycling market in 2021 and is expected to grow at a CAGR of 7.7% from 2022 to 2030 due to cost-effectiveness, high recycling ability, and high capacity
• The transportation segment emerged as a significant application in 2021 and is expected to expand at the fastest CAGR of 8.0% from 2022 to 2030 due to expanding marine, automotive, and aviation industries
• Europe held a 31.4% revenue share of the global market for battery recycling and is expected to expand by a 7.8% CAGR from 2022 to 2030 due to stringent government laws governing battery recycling in the region
• Asia Pacific is anticipated to be the fastest-growing market from 2022 to 2030 on account of rapidly growing end-use industries including automotive, consumer electronics, and industrial application
• Mergers & acquisitions, agreements, and expansions are the key strategies being adopted by the companies during the past years. For instance, in January 2022, Electra partnered with Marubeni to obtain the black mass created from recycling Li-ion batteries. Electra wants to use Marubeni's globally extensive network of battery cell recyclers to assure a consistent supply of Li/Co composites

Access Press Release@ https://www.grandviewresearch.com/press-release/global-battery-recycling-market

Battery Recycling Market Segmentation

Grand View Research has segmented the global battery recycling market report based on the chemistry, application, and region:

Battery Recycling Chemistry Outlook (Revenue, USD Million; 2019 - 2030)

• Lithium-ion
• Lead acid
• Nickle
• Others

Battery Recycling Application Outlook (Revenue, USD Million; 2019 - 2030)

• Transportation
• Consumer electronics
• Industrial

Battery Recycling Regional Outlook (Revenue, USD Million; 2019 - 2030)

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

List of the key players in Battery Recycling Market

• EnerSys
• G&P Batteries
• Exide Technologies
• Aqua Metals
• ECOBAT
• Call2Recycle

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.