Testing, Inspection, And Certification Market Set to Surge Significantly During 2023-2030: Grand View Research Inc.

 Testing, Inspection, And Certification Market Growth & Trends

The global testing, inspection, and certification market size is anticipated to reach USD 499.0 billion by 2030, growing at a CAGR of 4.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The incremental deployment rates of testing, inspection, and certification (TIC) systems and solutions can be accredited to the rise in manufacturing activities worldwide. Furthermore, the onset of Industry 5.0 and the rise in connected systems further augments the need to deploy TIC-based technologies in tandem with manufacturing activities.

The need to optimize manufacturing processes and end products has resulted in the manufacturing application segment capturing the highest growth rate of 6.4% over the forecast period. For instance, in January 2022, SGS, a Swiss international business that provides inspection, verification, testing, and certification services, has launched a new Vehicle Over the Air (OTA) performance testing laboratory in Suzhou, China. The lab will assist automotive manufacturers in helping them test, validate, and comply with evolving wireless standards and regulations. It fully integrates beneficial resources in automobile, communication, electronics, and reliability testing to provide commercial customers with technical verification, quality improvement product certification, and technology development services.

The integration of cloud technology with the TIC market is one of the significant market drivers. The need to access data instantly, automate certification, and issue reports on a real-time basis highlights the importance of storing essential TIC-related data in the cloud. Moreover, cybersecurity concerns such as increasing instances of cyberattack and data privacy threats further highlight the importance of a safe cloud architecture to safeguard data from people with malicious intent.

This is expected to help in general data regulation, security certifications, and software testing. For instance, in February 2022, Intertek Group plc, one of the prominent providers in connectivity testing and cybersecurity, established its Acucert, the first ISO/IEC certified cybersecurity testing lab in Mumbai, India. Acucert has significant expertise in IT system and software testing while meeting stringent quality control standards. Further opening a new testing lab would help them promote internationally and nationally.

The gradual acceptance of big data analytics with the TIC-based technology model is also expected to offer an impetus to the TIC market. The adoption of big data analytics technology by service providers is expected to diversify their service offerings, such as data-based services and predictive maintenance data and enable service providers to offer better solutions to their customers.

In September 2021, TÜV SÜD, a safety, security, and sustainability solutions provider, offered wind turbine certification for areas affected by tropical storms. Within the scope of type certification, the company has designed a computer framework to analyze the data of the areas and check compatibility for these regions based on the worldwide IEC 61400 standard. The computer model allows for the simulation of even the most extreme wind conditions in tropical cyclone-prone areas and the use of this simulation to determine if a wind turbine is suited for such places.

Asia Pacific is expected to capture the highest growth rate over the forecast period. Rapid industrialization and rising infrastructure development in Australia, South Korea, and India facilitate deploying proficient TIC solutions. Furthermore, the emerging technology ecosystem in countries such as Japan and China have resulted in several companies outsourcing their software and product development tasks. The ability to gain high-performance products at affordable rates from these countries promotes companies to access TIC solutions and services related to specific needs and requirements, thereby offering an impetus to market growth.

In December 2021, Eurofins Scientific, a global scientific leader in bioanalytical testing and a clinical diagnostic testing leader with Transgenic Inc., announced the acquisition of GeneticLab Co., Ltd., a molecular biology-based testing vendor. This acquisition will assist the company in strengthening its position in the Japanese market. It would further expand the company’s global presence in Asia, specializing in advanced genetic testing.

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Testing, Inspection, And Certification Market Report Highlights

• The certification segment is expected to emerge as the fastest-growing segment over the forecast period. The segmental growth can be attributed to increasing need of companies to certify their business practices use the right talent for specialized work.
• The outsourced segment is expected to register the highest CAGR over the forecast period owing to the ability to access more affordable TIC products and solutions and decreased operational expenditure.
• The manufacturing segment is expected to capture the highest growth rate over the forecast period owing to rising industrial activity around the world and development of new machine components which need to be tested and inspected before deployment.
• Asia Pacific region is expected to dominate the market over the forecast period. This can be attributed to rising economic activity in China and India. The implementation of Bharat Stage 6 in India has led automotive developers to develop new automotive components which have to be tested rigorously to meet international standards.

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Testing, Inspection, And Certification Market Segmentation

Grand View Research has segmented the global testing, inspection, and certification market report based on service type, sourcing type, application, and region:

Testing, Inspection, And Certification Service Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Testing
• Inspection
• Certification

Testing, Inspection, And Certification Sourcing Type Outlook (Revenue, USD Billion, 2017 - 2030)

• In-house
• Outsourced

Testing, Inspection, And Certification Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Consumer Goods & Retail
• Agriculture & Food
• Chemicals
• Infrastructure
• Energy & Power
• Education
• Government
• Manufacturing
• Healthcare
• Mining
• Oil & Gas And Petroleum
• Public Sector
• Automotive
• Aerospace & Defense
• Supply Chain & Logistics
• Others

Testing, Inspection, And Certification Regional Outlook (Revenue, USD Billion, 2017 - 2030)

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

List of Key Players of Testing, Inspection, And Certification (TIC) Market

• ALS Limited
• Applus+
• Bureau Veritas SA
• DEKRA SE
• DNV GL
• Element Materials Technology
• Eurofins Scientific
• Intertek Group plc
• MISTRAS Group, Inc.
• SGS SA
• TÜV NORD GROUP
• TÜV Rheinland
• TÜV SÜD
• UL 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.

Smart Home Market Revenue is Expected to Reach USD 537.01 Billion by 2030: Grand View Research Inc.

 Smart Home Market Growth & Trends

The global smart home market size is expected to reach USD 537.01 billion by 2030, registering a CAGR of 27.07% from 2023 to 2030, according to a new study by Grand View Research, Inc. The smart home is driven by computing devices and information technology that link smart home instruments and gadgets to provide convenience, entertainment, and enhanced comfort to residents in a sustainable way. The market growth is attributed to the rising penetration of the Internet of Things (IoT) and Internet connectivity in homes. Moreover, the trend of modern technologies, such as Artificial Intelligence (AI), being integrated with smart homes has enabled more advanced and digitally smart devices for better living.

In addition, the growing penetration of smartphones is driving the market as smart home devices can be controlled through a smartphone, thereby enabling ease of access and usage. Furthermore, the trend of automation in daily mundane tasks is expected to support market growth significantly. The rising need for home security has prompted the use of AI-powered smart home devices. Facial recognition and threat analysis are among the features included in these gadgets that are expected to drive the demand for smart home solutions. Asia Pacific is expected to emerge as the fastest-growing region over the forecast period.

This is mainly owing to the improved standards of living and increased consumer disposable income levels in the region. The rapid penetration of the internet, smartphones, and other digitally advanced equipment in the region is also expected to drive market growth. Furthermore, the increased demand for smart speakers, such as Siri and Alexa, significantly impacts the region’s growth. In addition, the trend of luxurious lifestyles in developing nations in the region, due to increased disposable income and personal choice among consumers for smart devices, is propelling the market growth.

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Smart Home Market Highlights

• Based on products, the security & access controls segment recorded the highest revenue share in 2022 due to the increased demand for advanced security solutions and the necessity to restrict access to rooms or safes with valuable items and goods
• The wireless protocols segment is expected to grow at the highest CAGR over the forecast period as wireless technology is continuously undergoing extreme developments in terms of connectivity and latency
• The new construction application segment is expected to register the fastest CAGR over the forecast period as product installations are easier in new constructions with prior knowledge of wall placements and wire/power outlets
• The Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period due to the increasing internet and IoT devices penetration

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Smart Home Market Segmentation

Grand View Research has segmented the global smart home market on the basis of products, protocols, application, and region:

Smart Home Products Outlook (Revenue, USD Million, 2018 - 2030)

• Security & Access Controls
  • Security Cameras
  • Video Door Phones
  • Smart Locks
  • Remote Monitoring Software & Services
  • Others
• Lighting Control
  • Smart Lights
  • Relays & Switches
  • Occupancy Sensors
  • Dimmers
  • Other Products
• Entertainment Devices
  • Smart Displays/TV
  • Streaming Devices
  • Sound Bars & Speakers
• HVAC
  • Smart Thermostats
  • Sensors
  • Smart Vents
  • Others
• Smart Kitchen Appliances
  • Refrigerators
  • Dish Washers
  • Cooktops
  • Microwave/Ovens
• Home Appliances
  • Smart Washing Machines
  • Smart Water Heaters
  • Smart Vacuum Cleaners
• Smart Furniture
• Home Healthcare
• Other Devices

Smart Home Protocols Outlook (Revenue, USD Million, 2018 - 2030)

• Wireless Protocols
  • ZigBee
  • Wi-Fi
  • Bluetooth
  • Z Wave
  • Others
• Wired Protocols
• Hybrid

Smart Home Application Outlook (Revenue, USD Million, 2018 - 2030)

• New Construction
• Retrofit

Smart Home Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Smart Home Market

• LG Electronics, Inc.
• Siemens AG
• com, Inc.
• Google Nest (Google LLC)
• Samsung Electronics Co. Ltd.
• Schneider Electric SE
• Legrand S.A.
• Robert Bosch GmbH
• Assa Abloy AB
• Sony Group Corporation
• ABB, Ltd.
• Philips Lighting B.V.
• Honeywell International, 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.

Plasma Fractionation Market Expected to Witness a Sustainable Growth over 2030: Grand View Research Inc.

 Plasma Fractionation Market Growth & Trends

The global plasma fractionation market is expected to reach USD 58.24 billion by 2030, expanding at a CAGR of 8.3%, according to a new report by Grand View Research, Inc. The major factors driving the market growth are the rising prevalence of respiratory illnesses globally, blood-related diseases, and an aging population that is prone to a variety of rare disorders. These are the main drivers of market expansion. In addition, the rise in the prevalence of rare disorders that call for plasma therapy or derivatives also supplemented the market growth.

Plasma Fractionation Market Report Scope 

Report Attribute	Details
Market size value in 2022	USD 30.71 billion
Revenue forecast in 2030	USD 58.24 billion
Growth rate	CAGR of 8.3% from 2022 to 2030
Base year for estimation	2021
Historical data	2018 - 2020
Forecast period	2022 - 2030

The global market is also expanding due to the increased use of immunoglobulins as well as alpha-1-antitrypsin in various areas of research around the world. Another important factor for the expansion of the market is the rise in blood collection facilities globally. For instance, as per the WHO, as of May 2022, over 118 million blood donations were collected across the globe, thus increasing the plasma supply gradually. Additionally, supportive government initiatives to raise public awareness about the usage of plasma-derived products also serve as a major driver of the global market's expansion.

Blood plasma transfusions are one of the cutting-edge treatments for COVID-19 infection. For instance, in August 2020, the US Food and Drug Administration (USFDA) granted the convalescent plasma treatment of COVID-19 an emergency use authorization (EUA). Additionally, in February 2021, it published an amended directive for the plasma EUA for COVID-19. As a result, the usage of plasma fractionation technologies is projected to increase during the COVID-19 pandemic.

The growing demand for personalized medications has increased R&D spending, and technological advancements in plasma components such as immune serum globulin, which have advantages such as higher yield, lower cost, and faster throughput, are driving market growth. On the other hand, immunoglobulins generated from plasma are being employed more frequently for a variety of clinical conditions, including autoimmune and inflammatory illnesses. Therapies including Ceruloplasmin, IgA, and Plasmin have received significant funding from the plasma fractionation sector. Additionally, the industry will receive a boost from booming investments in innovation and technology developments that result in efficient and affordable methods for fractionating proteins. thus, propelling the market's growth.

For companies operating market-related businesses, the market offers a lot of opportunities. In addition, the global and regional market participants are actively implementing organic and inorganic development strategies as a result of the market's favorable expansion. As a result, it is anticipated that the market will draw more notable investments during the forecast period. For instance, in January 2022, the eighth plasma collection facility in the Czech Republic was opened by Biotest AG. The national public health authority, SUKL, granted the company an operating license for these centers.

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Plasma Fractionation Market Report Highlights

• By product, the immunoglobulins segment held the largest share in 2021. This is anticipated to be driven by rising research activities and the growing demand for immunoglobulin for the treatment of various neurological diseases such as dementia, Alzheimer's, and others
• By application, the neurology segment accounted for the largest share in 2021. This is attributed to the growing demand for efficient neurovascular treatments fueled by the rising prevalence of patients with neurovascular diseases such as cerebral aneurysms, brain stroke, and epilepsy
• By the method, the centrifugation segment held a larger share in 2021. The treatment and diagnostic procedures of numerous chronic and infectious diseases become more complex. For these purposes, the use of modern laboratory centrifuges is becoming a crucial method
• By end-use, the hospitals & clinics segment held a larger share in 2021. The hospitals & clinics are using plasma-derived products more frequently to treat autoimmune disorders like type 1 diabetes, as well as the improved infrastructure and healthcare facilities, augment the market growth
• North America held the larger share in 2021. This is due to the region's advanced healthcare facilities and favorable governmental policies, which are expected to increase demand for the product
• The Asia Pacific is expected to grow at the highest rate in a projected time. Driven by factors such as the rising prevalence of target diseases with an aging population, rising plasma-based therapeutics adoption, and others

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Plasma Fractionation Market Segmentation

Grand View Research has segmented the global plasma fractionation market based on product, application, method, end-use, and region:

Product Scope Outlook (Revenue, USD Million, 2018 - 2030)

• Albumin
• Immunoglobulins
  • Intravenous immunoglobulins
  • Subcutaneous immunoglobulins
  • Others
• Coagulation Factors
  • Factor VIII
  • Factor IX
  • VON WILLEBRAND factor
  • Prothrombin complex concentrates
  • Fibrinogen concentrates
  • Others
• Protease inhibitors
• Others

Method Scope Outlook (Revenue, USD Million, 2018 - 2030)

• Centrifugation
• Depth Filtration
• Chromatography
• Others

Application Scope Outlook (Revenue, USD Million, 2018 - 2030)

• Neurology
• Hematology
• Oncology
• Immunology
• Pulmonology
• Others

End-Use Scope Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics
• Clinical Research
• Others

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

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

List of Key Players of Plasma Fractionation Market

• Grifols S.A.
• CSL Limited
• Takeda Pharmaceutical Company Limited
• Octapharma AG
• Kedrion S.p.A
• LFB S.A.
• Biotest AG
• Sanquin
• Bio Products Laboratory Ltd.
• Intas Pharmaceuticals 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.

Non-alcoholic Steatohepatitis Treatment Market Growth With Worldwide Industry Analysis To 2030: Grand View Research Inc.

 Non-Alcoholic Steatohepatitis Treatment Market Growth & Trends

The global non-alcoholic steatohepatitis treatment market size is expected to reach USD 15.95 billion by 2030, according to a new report by Grand View Research, Inc. The industry is projected to expand at a CAGR of 39.2% from 2022 to 2030. The non-alcoholic steatohepatitis (NASH) treatment market is primarily driven by the launch of drugs such as Novo Nordisk's Ozempic, Intercept's Ocaliva, and Inventiva's lanifibranor, among others.

The NASH treatment market has major unmet needs owing to factors such as the unavailability of approved drugs, high disease burden, and complex diagnostic procedures. Currently, the market is dominated by off-label drugs such as Pioglitazone and Vitamin E. These are widely prescribed drugs in this space globally. However, to address the unmet opportunity, key market players are heavily investing in R&D activities to develop novel therapeutics for NASH treatment. Currently, there are more than 50 pipeline candidates.

Non-Alcoholic Steatohepatitis Treatment Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 1.13 billion
Revenue forecast in 2030	USD 15.95 billion
Growth rate	CAGR of 39.2% from 2022 to 2030
Base year for estimation	2021
Historical data	2018 - 2020
Forecast period	2022 - 2030

Some of the late-stage pipeline candidates expected to launch during the forecast period include Inventiva Pharma's Lanifibranor, Intercept Pharmaceuticals' Obeticholic acid, Galmed Pharmaceuticals Ltd.'s Aramchol, Novo Nordisk A/S's Semaglutide, and Madrigal Pharmaceuticals, Inc.'s Resmetirom. Among these, Intercept Pharmaceuticals's Obeticholic Acid (OCA), and Madrigal Pharmaceuticals, Inc.'s Resmetirom, are the most looked upon drugs and are expected to enter comparatively earlier than other pipeline candidates.

Research studies reveal that non-alcoholic steatohepatitis is strongly associated with obesity and diabetes. Research studies show that around 80% of NASH patients are obese. In countries such as the U.S., the obesity prevalence is as high as 42%, according to the latest 2021 statistics by CDC. In addition, countries such as the U.S. and Japan account for the highest prevalence of non-alcoholic steatohepatitis globally, and these countries also have a high burden of obesity and diabetes. All such factors will fuel the NASH treatment market throughout the forecast period.

Strategic initiatives by pharma giants and supportive regulatory authority policies such as fast track designation are further expected to accelerate the market growth. In May 2022, Pfizer, Inc.'s Ervogastat/Clesacostat Combination therapy received fast track designation. This is one of the potential drug combinations for the treatment of non-alcoholic steatohepatitis. Such drug designation boosts the clinical trial process for drugs.

Liver biopsy is the gold standard for the diagnosis of non-alcoholic steatohepatitis. The invasive nature of this diagnostics test limits its usage to only symptomatic cases, and as a result, the global average diagnostic rate for NASH is around 20%. The unavailability of biomarkers-based non-invasive tests for the diagnosis of non-alcoholic steatohepatitis is expected to impede the market growth.

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Non-Alcoholic Steatohepatitis Treatment Market Report Highlights

• Vitamin E and Pioglitazone (Off-label) acted as the lone contributor with a 100% share of the market in 2021. This can be attributed to the unavailability of approved drugs in the market
• The retail and specialty pharmacies segment held a share of 63.8% in 2021. Retail and specialty pharmacies are more compatible with chronic diseases such as NASH, where the patients are more commonly associated with homecare settings
• North America dominated the overall NASH treatment space in terms of revenue. This can be attributed to increased disease awareness, better healthcare facilities, and comparatively higher treatment rate than in other regions

Access Press Release@ https://www.grandviewresearch.com/press-release/global-non-alcoholic-steatohepatitis-nash-treatment-market

Non-Alcoholic Steatohepatitis Treatment Market Segmentation

Grand View Research has segmented the global non-alcoholic steatohepatitis treatment market based on drug type, end-use, and region:

NASH Treatment Drug Type Outlook (Revenue, USD Million, 2018 - 2030)

• Vitamin E and Pioglitazone
• Obeticholic Acid (OCA)
• Lanifibranor
• Semaglutide
• Resmetirom
• Aramchol
• Cenicriviroc
• Others

NASH Treatment End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital Pharmacies
• Retail & Specialty Pharmacies
• Others

NASH Treatment 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
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players in the Non-alcoholic Steatohepatitis (NASH) Treatment Market

• Intercept Pharmaceuticals
• Galmed Pharmaceuticals
• Inventiva Pharma
• AbbVie Inc.
• Galectin Therapeutics Inc.
• Madrigal Pharmaceuticals
• NGM Biopharmaceuticals Inc.
• Novo Nordisk A/S
• Bristol Myers Squibb
• Gilead Sciences, 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.

Global Rare Diseases Treatment Market to Reach Around USD 335.84 Billion by 2030: Grand View Research Inc.

 Rare Diseases Treatment Market Growth & Trends 

The global rare diseases treatment market size is expected to reach USD 335.84 billion by 2030, according to a new study by Grand View Research Inc., expanding at a CAGR of 12.8% from 2022 to 2030. Increasing prevalence of rare diseases contributes to industry growth. According to the National Center for Advancing Translational Sciences (NCATS), over 30 million of the U.S. population is estimated to be affected by rare diseases in 2022. Increasing prevalence of people living with orphan diseases is anticipated to increase the sales and demand for orphan medicines over the forecast period. 

The presence of supportive regulations by government authorities, such as the Orphan Drug Act that support product development by offering the orphan drug designation to potential drug candidates developed by pharmaceutical companies, is expected to support industry growth. This initiative boosts the research and development in the field of orphan disease treatment. 

Rare Diseases Treatment Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 128.42 billion
Revenue forecast in 2030	USD 335.84 billion
Growth rate	CAGR of 12.8% from 2022 to 2030
Base year for estimation	2021
Historical data	2018 - 2020
Forecast period	2022 - 2030

In April 2020, the National Organization for Rare Disorders (NORD) launched the “COVID-19 critical relief” program for patients with rare diseases affected by the COVID-19 pandemic. Under this program, the NORD provided monetary assistance of up to USD 1,000 annually to orphan disease patients and their caregivers for fulfilling their medical and non-medical needs. Thus, the availability of such programs is anticipated to boost the adoption of rare disease treatment over the forecast period. 

Moreover, companies have undertaken initiatives such as collaborations and partnerships for the development, manufacturing, and commercialization of products in the international market. For instance, in August 2020, Sarepta Therapeutics, Inc. entered into a collaboration with the University of Florida for the development of novel genetic medicines for the treatment of patients with various orphan diseases, including Duchenne Muscular Dystrophy (DMD). 

However, a lack of accurate and early diagnosis of rare diseases can often present a challenge for orphan disease patients, and in some cases, an accurate diagnosis is not obtained for as long as five years. In addition, patient eligibility and recruitment of eligible patients for clinical trials for rare disease treatment may restrain the industry growth. Not only finding the target population is difficult but finding physicians who treat these patients is also complex, thus leading to delays in the new product approval and launch in the market. 

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Rare Diseases Treatment Market Report Highlights

• By therapeutic area, cancer segment held the largest revenue share in 2021 due to high prevalence of cancer indications such as multiple myeloma, acute lymphoblastic leukemia, chronic myeloid leukemia, and esophageal cancer and wide availability of orphan drugs for the treatment of patients with these conditions
• By route of administration, the injectable segment dominated the market in 2021 and is expected to witness significant growth owing to high safety, efficacy, and tolerability associated with this route of administration among rare disease patients
• By drug type, the biologics segment dominated the market in 2021 due to the presence of supportive reimbursement policies and the higher efficacy of biologics as disease-modifying therapies for the treatment of rare diseases
• By distribution channel, the specialty pharmacy segment dominated the market in 2021 due to government initiatives to support specialty pharmacies that provide orphan drugs. For instance, in July 2022, Utilization Review Accreditation Commission (URAC) awarded Maxor Specialty Pharmacy with the rare diseases pharmacy center of excellence for providing high-quality orphan drugs to patients
• Asia Pacific is expected to witness lucrative growth during the forecast period. The growth of the region can be attributed to the entry of new products into the region. According to Illness Challenged Foundation, China had approved new 87 orphan drugs for 47 rare diseases by the end of 2021 

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

Rare Diseases Treatment Market Segmentation 

Grand View Research has segmented the global rare diseases treatment market by therapeutic area, route of administration, drug type, distribution channel, and region: 

Rare Diseases Treatment Therapeutic Area Outlook (Revenue, USD Million, 2018 - 2030)

• Cancer
• Neurological Conditions
• Cardiovascular Conditions
• Musculoskeletal Conditions
• Hematologic Disorders
• Infectious Diseases
• Metabolic Disorders
• Endocrine Disorders
• Others

Rare Diseases Treatment Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Oral
• Injectable
• Others

Rare Diseases Treatment Drug Type Outlook (Revenue, USD Million, 2018 - 2030)

• Biologics
• Biosimilar
• Small Molecule

Rare Diseases Treatment Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital Pharmacy
• Specialty Pharmacy
• Online Pharmacy

Rare Diseases Treatment 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
  • Brazil
• Latin America
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Rare Diseases Treatment Market

• Hoffmann-La Roche Ltd.
• Pfizer, Inc.
• PTC Therapeutics
• AstraZeneca
• Novartis AG
• Takeda Pharmaceutical Company
• Bayer AG
• AbbVie Inc.
• Merck & Co. Inc.
• Bristol Myers Squibb

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.

Energy-based Aesthetic Devices Market Estimated To Flourish By 2030: Grand View Research Inc.

 Energy-based Aesthetic Devices Market Growth & Trends

The global energy-based aesthetic devices market size is expected to reach USD 15.9 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.8% from 2022 to 2030. The rise in public awareness regarding medical aesthetics, an increase in the obese population, technological advancements in energy-based aesthetic devices, and rise in the number of medspas and surgical centers across the globe are the key factors that boost the growth of the market. The demand for energy-based aesthetic devices is projected to witness a rise during the forecast period due to the high preference among people for body contouring and skin tightening procedures.

The COVID-19 pandemic had disrupted a number of aesthetic procedures due to the restrictions imposed by the government. Also, the COVID-19 pandemic has negatively impacted the aesthetics industry. According to Allure, dermatology procedures will be slow to get a reboot during and after the pandemic due to safety concerns and infection control. However, in 2021, there was no significant impact on the market as medspa, traditional spa, and surgical centers were reopened in many countries and the number of aesthetic procedures also increased.

The rise in public preference for minimally invasive beauty treatments, demand for fat reduction and body shaping due to the rise in the obese population, surge in R&D activities along with the launch of new energy-based aesthetic devices, and increasing healthcare expenditure are the major factors that drive the market. In addition, the rise in the adoption of energy-based aesthetic devices has surged the focus of players on developing less-expensive and easy-to-use aesthetic products. Moreover, well-established reimbursement policies and strong medical infrastructure in developed countries further boost the growth of the market.

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Energy-based Aesthetic Devices Market Report Highlights

• The body contouring and skin tightening segment emerged as the largest application segment in 2021 with a revenue share of over 20.0% due to rapid surge in the need among the young population to appear flawless
• By end-use, the medspa segment accounted for the largest revenue share in 2021 and is expected to witness the highest growth over the forecast period due to an increase in demand for minimally invasive aesthetic treatment procedures in medspa
• North America held the largest revenue share in 2021 owing to rapid advancement in the aesthetic devices sector by key players and growing R&D activities in aesthetics

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Energy-based Aesthetic Devices Market Segmentation

Grand View Research has segmented the global energy-based aesthetic devices market on the basis of application, end-use, and region:

Energy-based Aesthetic Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

• Body Contouring & Skin Tightening
• Skin Rejuvenation
  • Wrinkles
  • Acne & Other Scars
  • Skin Pigmentation
  • Aging
• Hair Removal
• Leg Vein Treatment
• Vaginal Rejuvenation
• Pigmented Lesion & Tattoo Removal
• Others

Energy-based Aesthetic Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital/Surgery Center
• Medspa
• Traditional Spa
• HCP Owned Clinic

Energy-based Aesthetic Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Energy-based Aesthetic Devices Market

• Syneron Medical Ltd.
• Merz Pharma GmbH & Co. KGaA
• Lumenis Ltd.
• Alma Lasers Inc.
• Zeltiq
• En.
• Cutera
• Sisram
• Allergan Plc
• Cynosure

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.

5G In Healthcare Market Revenue Sales to Reach USD 454.7 Billion by 2030: Grand View Research Inc.

 5G In Healthcare Market Growth & Trends 

The global 5G in healthcare market size is expected to reach USD 454.7 billion by 2030, based on a new report by Grand View Research, Inc, expanding at a CAGR of 34.5% from 2022 to 2030. The IoT ecosystem is developing and is expected to enable networks to connect billions of devices. The demand for a real-time network with faster internet access and greater bandwidth has been driven by the development of modern technologies such as artificial intelligence, wired, and wireless communications, and machine learning. Moreover, the market is driven by the increasing demand for wearable medical devices incorporated with 5G technology for real-time remote patient monitoring and the rising acceptance of robotic surgery and telehealth.

The COVID-19 pandemic had a positive impact on the market owing to the adoption of telehealth and remote patient monitoring by medical professionals, medical institutions, and hospitals during the pandemic to monitor isolated COVID-19 patients and stop the further spread of the virus by monitoring patients through remote patient monitoring methods. Since the integration of several low-power devices is required for patient remote monitoring, 5G services can be effectively used to develop a proper remote monitoring infrastructure for patients. Furthermore, government bodies and hospitals made efforts to deploy 5G during the COVID-19 pandemic. For instance, in February 2020, the U.S. Veterans Affairs (VA) Healthcare System deployed 5G in the hospital to treat patients using remote patient monitoring and promote the use of telemedicine.

The key players are adopting strategies such as partnerships, mergers and acquisitions, product and service launches, agreements, joint ventures, collaborations, and expansion to strengthen their position in the market. In February 2020, China's first 5G-capable remote emergency rescue system was constructed by the Second Affiliated Hospital of Zhejiang University School of Medicine and China Mobile Zhejiang. This system consists of many supporting technologies, including VR immersive diagnosis and therapy, 5G-enabled remote ultrasonography, and a 5G-enabled emergency rescue command center.

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5G In Healthcare Market Report Highlights

• The hardware component segment held the largest revenue share of over 70.0% in 2021 owing to the need for frequent replacement or up-gradation of the devices to make optimal use of the latest technologies in the market
• The services component segment is anticipated to expand at the fastest CAGR of 35.7% from 2022 to 2030. The growth is attributed to the need for improved mobile broadband and greater frequencies offered by 5G services
• Based on the application, the remote patient monitoring segment accounted for the largest revenue share of over 60.0% in 2021 owing to the rising geriatric population and a rise in the demand for remote health checkups. Remote patient monitoring is critical for chronic management and efficient and proactive healthcare service
• The connected medical devices application segment is expected to register the fastest growth rate from 2022 to 2030 owing to increased demand for medical devices by consumers for daily health tracking, the rise in demand for telehealth devices, and the increasing trend of home healthcare
• In 2021, the healthcare providers end-use segment dominated the market with a revenue share of over 60.0% due to the growing patient volume and an increasing number of hospitals and ambulatory care centers
• The healthcare payers' end-use segment is anticipated to expand at the fastest growth rate of 35.4% over the forecast period. Payers include both public and commercial insurance companies. The growth of the segment is fueled by an increase in the number of policyholders for health insurance due to the COVID-19 pandemic
• North America held the largest revenue share of over 35.0% in 2021 owing to the government initiatives for the deployment of 5G in healthcare and increasing penetration of 5G-enabled medical devices
• Asia Pacific is expected to register the fastest growth rate of 36.6% from 2022 to 2030 owing to government initiatives for the deployment of 5G in healthcare. For instance, the government of India launched a special incentive scheme to support 75 startups in telemedicine and digital health in 2021 

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5G In Healthcare Market Segmentation

Grand View Research has segmented the global 5G in the healthcare market based on component, application, end-use, and region: 

5G In Healthcare Component Outlook (Revenue, USD Billion, 2017 - 2030)

• Hardware
• Services

5G In Healthcare Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Remote Patient Monitoring
• Connected Medical Devices
• AR/VR
• Connected Ambulance
• Asset Tracking

5G In Healthcare End-Use Outlook (Revenue, USD Billion, 2017 - 2030)

• Healthcare Providers
• Healthcare Payers

5G In Healthcare Regional Outlook (Revenue, USD Billion, 2017 - 2030)

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

List of Key Players of 5G In the Healthcare Market

• AT&T
• Verizon
• China Mobile International Limited
• Quectel
• Telit
• Telus
• Huawei Technologies Co., Ltd.
• Cisco System Inc.
• Orange
• NEC 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.

Neuromodulation Devices Market is Projected to Boost USD 8.3 Billion by 2030: Grand View Research Inc.

 Neuromodulation Devices Market Growth & Trends

The global neuromodulation devices market size is expected to reach USD 8.3 billion by 2030, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.5% from 2022 to 2030. Neuromodulation offers minimally invasive or non-invasive treatment options for the treatment of neurological diseases. In addition, the growth in the healthcare budgetary allocation in developing countries is expected to contribute to the market growth. For instance, in the U.S., national healthcare spending increased to USD 4.1 trillion in 2020, or USD 12,530 per person.

The COVID-19 pandemic had caused havoc in a variety of industries and trades around the world. The demand for neuromodulation is higher among the older population as they are more likely to be exposed to chronic pain due to various comorbidities and probable immune suppression. Furthermore, the demand is expected to increase among persons infected with the COVID-19 virus. The illness effectively suppresses the immune system.

The significant increase in investments by the government and market players to improve the healthcare infrastructure is promoting the implementation of novel technologies to treat neurological conditions. In the Union Budget of 2021, the PM Atmanirbhar Swasth Bharat Yojana received funding from the government of India totaling USD 8.10 billion over six years. The fund was allocated to strengthen existing national medical institutions to develop capacities of primary, secondary, and tertiary healthcare systems and cater to the detection of emerging diseases.

Major players operating in the market are receiving FDA approval for their products. The organizations are incorporating strategies such as alliances, acquisitions, partnerships, R&D investments, new product launches, and approvals to strengthen their competitive power while expanding their global reach. For instance, in September 2021, Abbott acquired Walk Vascular, LLC, which is a medical device manufacturing company. Walk Vascular, LLC is known for the minimally invasive thrombectomy system that is designed for the removal of blood clots.

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Neuromodulation Devices Market Report Highlights

• Based on product type, the spinal cord stimulators segment dominated the market with a revenue share of over 40.0% in 2021. Deep brain stimulators are expected to register the fastest growth rate of 10.8% over the forecast period owing to an increase in the usage of deep brain stimulators for treating essential tremors, Parkinson’s disease, dystonia, and epilepsy
• Based on technology, the internal segment dominated the market with a share of over 55.0% in 2021 owing to the increased use of minimally invasive treatments for treating various neurological disorders. The external segment is expected to expand at the fastest CAGR of 10.8% during the forecast period
• Based on application, the Parkinson’s disease segment held the largest revenue share of over 25.0% in 2021. The chronic pain segment is expected to exhibit the fastest growth of 11.3% during the forecast period
• Based on biomaterial, the metallic biomaterials segment dominated the market and held over 45.0% share in 2021 owing to the growth in R&D activities
• In 2021, North America dominated the market with a revenue share of over 45.0% owing to the rising prevalence of various types of neurological illnesses and the recurring need for neuromodulation devices and therapies. Asia Pacific is expected to expand at the fastest rate of 10.6% during the forecast period. The growth can be attributed to an aging population and rising government initiatives. For instance, NITI Aayog along with the Ministry of Health and Family Welfare launched a no-cost diagnostic program for patients suffering from neurological disorders in 2016

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Neuromodulation Devices Market Segmentation

Grand View Research has segmented the global neuromodulation devices market based on product type, technology, application, biomaterial, end-use, and region:

Neuromodulation Devices Product Type Outlook (Revenue, USD Million; 2017 - 2030)

• Spinal Cord Stimulators
• Deep Brain Stimulators
• Sacral Nerve Stimulators
• Vagus Nerve Stimulators
• Transcranial Magnetic Stimulators
• Others

Neuromodulation Devices Technology Outlook (Revenue, USD Million; 2017 - 2030)

• Internal
• External

Neuromodulation Devices Application Outlook (Revenue, USD Million; 2017 - 2030)

• Parkinson’s Disease
• Chronic Pain
• Migraine
• Epilepsy
• Tremor
• Depression
• Urinary & Faecal Incontinence
• Others

Neuromodulation Devices Biomaterial Outlook (Revenue, USD Million; 2017 - 2030)

• Polymeric Biomaterial
• Metallic Biomaterial
• Ceramic Biomaterial

Neuromodulation Devices End-use Outlook (Revenue, USD Million; 2017 - 2030)

• Hospitals & Ambulatory Surgery Centers (ASC)
• Clinics & Physiotherapy Centers
• Others

Neuromodulation Devices Regional Outlook (Revenue, USD Million; 2017 - 2030)

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

List of Key Players in Neuromodulation Devices Market

• Boston Scientific Corporation
• Abbott
• NEVRO CORP.
• Neuronetics
• Medtronic

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.