Global Demand for Smart Lock Market to Incur Considerable Upsurge During 2023– 2030: Grand View Research Inc.

 Smart Lock Market Growth & Trends

The global smart lock market demand is expected to reach 41.9 million units by 2028, registering a CAGR of 21.4% from 2021 to 2028, according to a new report by Grand View Research, Inc. Rising awareness among consumers regarding the benefits and convenience offered by smart home security solutions and surging adoption of connected devices are primarily driving the industry growth. Besides, the hospitality sector has witnessed a large-scale deployment of smart locks with leading companies and stay aggregators increasingly relying on them to ensure security and accessibility to both customers and owners.

The rising global smartphone penetration has further opened new growth prospects for industry participants due to their continuous efforts to launch apps to manage the locking/unlocking procedures. Furthermore, prominent market players are incorporating various innovative techniques, such as Wi-Fi-enabled locking/unlocking and Bluetooth-based (BLE) locking/unlocking using smartphones and other devices, in their smart lock models. Touch panels are also being incorporated to facilitate the entry of passwords or pattern-based locking/unlocking.

Smart lock Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 2.32 billion
Revenue forecast in 2030	USD 8.13 billion
Growth rate	CAGR of 19.6% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

The COVID-19 pandemic had momentarily hindered the growth of new smart lock installations over the initial couple of quarters of 2020. The dramatic changes, such as restrictions in cross-border trade, economic instability, stringent norms mandating temporary shutdowns of manufacturing sites, and stay-at-home orders for the general populace, created a challenging situation for the industry during the past year. Nevertheless, strategies such as incorporating touchless technologies into their products, creating mobile apps for carrying out procedures, and offering products at reduced prices on the available modes have helped companies to intensify their ROI during these critical lockdown scenarios.

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Smart Lock Market Report Highlights

• The prominent industry participants are adopting aggressive strategies such as partnerships, R&D investments, and mergers and acquisitions to capture higher market share and enhance their smart security solutions portfolio
• Major companies in the marketplace, such as August Home Inc., are developing retrofittable locks that effectively cater to the customers’ demands. Such locks allow users to retain the same design as before with minute details refined and have embedded advanced features
• The residential segment is expected to account for the highest revenue share of approximately 60% by the end of 2028. The rising number of renovation and new construction projects have led to increased installation of such locks, thereby positively impacting the industry over the next seven years
• Asia Pacific is poised to exhibit the highest CAGR of over 22% over the next seven years owing to a rising number of modernization activities across the hospitality and residential sectors, along with the rising awareness regarding advanced security solutions across emerging economies such as India and Korea

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Smart Lock Market Segmentation

Grand View Research has segmented the global smart lock market based on type, application, and region:

Smart Lock Type Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

• Deadbolt
• Lever Handles
• Padlock
• Others

Smart Lock Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

• Residential
• Hospitality
• Enterprise
• Critical Infrastructure
• Others

Smart Lock Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

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

List of Key Players of the Smart Lock Market

• Yale
• Schlage
• August Home
• Kwikset
• Goji
• SDS Smart Locks
• Mul-T-Lock
• UniKey Technologies 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 Biotechnology Instruments Market to Register Stable Expansion During 2021– 2028: Grand View Research Inc.

 Biotechnology Instruments Market Growth & Trends

The global biotechnology instruments market size is expected to reach USD 106.75 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.66% from 2021 to 2028. The market is collectively driven by technological advancements, advantages offered by laser therapy, growing prevalence of target diseases, rising geriatric population, and increasing demand for Point-Of-Care (POC) tests and devices.

Rising demand for POC devices in the home and other healthcare settings to cater to the elderly population and increasing government initiatives to shorten hospital stays by establishing outpatient care models are expected to drive the demand for POC diagnostics over the next six years. The growth in the biotechnology industry can also be attributed to several factors such as the launch of new and innovative products, agreements, acquisitions, technological advancements, and increasing adoption in various applications.

For instance, in January 2021, Sartorius Stedim Biotech acquired Novasep’s chromatography process equipment division. Its chromatography product portfolio consists of intensified chromatography systems and resin-based batch for multi-use applications, such as oligonucleotides, small molecules, insulin, and peptides.

In addition, companies are launching new products for facilitating rapid downstream processing. For instance, in February 2021, Waters Corporation launched a next-generation liquid chromatography system-Waters ACQUITY PREMIER Solution. It features the company’s breakthrough MaxPeak High-performance Surface technology. The advantages of the system include the elimination of time-consuming steps and improvement in analytical data quality. 

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Biotechnology Instruments Market Report Highlights

• By product, the life science consumables segment accounted for the largest share in 2020 and is expected to dominate the market from 2021 to 2028. The COVID-19 pandemic has resulted in a significant revenue contribution to this segment in 2020
• More than 300 Real-time Polymerase Chain Reactions (RT-PCRs) are being developed for the detection of SARS-COV-2 infection, however, only 7 to 10 kits have been commercialized for pooled sample testing against COVID-19
• The lab automation instruments product segment is expected to witness growth in the years to come owing to the rise in demand for automated sample preparation instruments for clinical genomics laboratories
• Based on end use, the hospitals and healthcare facilities segment is expected to dominate the market throughout the forecast period owing to an increase in demand for in vitro diagnostic (IVD) point-of-care devices in clinical laboratories and hospitals
• The growing demand for rapid drug development and the commercialization of new drug molecules for the treatment of different diseases drive the need for sophisticated instruments in the pharmaceutical and biotechnology companies end-use segment
• North America held the largest revenue share in 2020 owing to the higher penetration of genomic, proteomic, and cell biology-based platforms in the region

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Biotechnology Instruments Market Segmentation

Grand View Research has segmented the global biotechnology instruments market on the basis of product, end-use, and region:

Biotechnology Instruments Product Outlook (Revenue, USD Million, 2017 - 2028)

• Lab Automation Instruments
  • Proteomics
  • Genomics
  • Sequencing
  • Spatial Cell Analysis
  • Others
• Life Science Consumables
• IVD Instruments
• Medical Lasers
  • Therapeutics
  • Ophthalmic
  • Ablation

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

• Government & Academic Institutes
• Pharmaceutical & Biotechnology Companies
• Hospitals & Healthcare Facilities
• Others

Biotechnology Instruments Regional Outlook (Revenue, USD Million, 2017 - 2028)

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

List of Key Players of Biotechnology Instruments Market

• Agilent Technologies
• Alcon, Inc.
• AngioDynamics
• Becton, Dickinson, and Company
• BioMerieux SA
• Bio-Rad Laboratories
• BioTek Instruments, Inc.
• Candela Medical
• Cynosure, LLC
• Danaher Corporation
• Endress+Hauser (Analytik Jena GmbH)
• Hoffmann-La Roche Ltd.
• IIlumina Inc.
• IRIDEX
• Lumenis
• Merck KGaA
• Novanta, Inc.
• Perkin Elmer, Inc.
• QIAGEN
• Siemens  Healthineers
• Tecan Group AG
• Thermo Fisher Scientific, Inc.
• Waters Corporation
• Zimmer MedizinSysteme

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.

Immune Health Supplements Market is Likely To Touch USD 132.0 Billion by 2028: Grand View Research Inc.

 Immune Health Supplements Market Growth & Trends 

The global immune health supplements market size is expected to reach USD 132.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.3% from 2021 to 2028. The growing prevalence of various infectious diseases caused by several micro-organisms, such as bacteria, fungi, viruses, and parasites, coupled with the rising demand for supplements to increase the body's immune system, is expected to boost the immune health supplements adoption across the globe. Besides, increasing adoption of immunity-boosting products due to the COVID-19 pandemic is also anticipated to accelerate the market growth over the forecast years. According to the Council for Responsible Nutrition (CRN) report in 2020, the consumption of dietary supplements among Americans was about 73 percent. However, taking dietary supplements among individuals for immune health has been increased from 27 percent to 32 percent from 2019 to 2020.

As of 2020, the vitamin and mineral supplements segment held the largest revenue share. The increasing adoption of vitamin C, D, multivitamins, and minerals resulted in a high revenue share for the segment in the market. An unhealthy diet limited physical activity, and a sedentary lifestyle are the key factors responsible for increasing vitamin and mineral intake to improve an individual's immunity, especially in the developed regions such as North America and Europe. However, the increasing patient population and growing awareness for vitamin and mineral consumption are the major factors expected to boost market growth in emerging economies such as Asia Pacific and Latin America during the forecast period. However, the herbal supplements segment is also anticipated to be the second-largest product segment due to its popularity for long-term consumption as immunity boosters without any side effects.

By form, the tablets segment accounted for the largest revenue share in 2020. Due to its longer shelf life and high preference of adoption among the individual's tablets segment is expected to be the dominated segment. Tablets are more stable than the capsule, particularly in moist environments. In addition, tablets are largely manufactured by the key market players than the other form of supplements. Further, properties of tablets such as durability, inexpensive, can be split into two parts, and higher dosage accommodation is anticipated its high adoption and maximum value share in the market.

The respiratory tract infection segment held the largest revenue share in 2020. Due to the increasing prevalence of respiratory disorders such as COPD, asthma, COVID19, immune health supplements adoption has increased in the last couple of years. Particularly, the rapid rise in life-threatening coronavirus disease from the last year has increased the adoption of immunity-boosting products to manage respiratory tract infections. Taking supplements such as Vitamin C, D, and minerals such as zinc and probiotics offers unique properties to reduce the risk of respiratory tract infection, duration, and severity of infection.

As of 2020, the self-medication segment accounted for the largest revenue share than the prescription-based segment. It can be attributed due to the high percentage of self-medicated supplements using the population around the globe. Further, most of the vitamins and mineral supplements do not require a prescription. One can purchase them from pharmacies, groceries, and any convenience stores. Besides, the growing awareness among the individuals to use immunity-boosting products due to COVID19 is also expected to provide a high market share to the self-medication segment over the forecast years globally.

The pharmacies/drug stores segment dominated the market and accounted for the largest revenue in 2020. The availability of a wide variety of products and the high preference of consumers to buy immune health supplements from pharmacies are the factors responsible for the largest market share of this segment. Moreover, the availability of both prescriptions based and over-the-counter products for the consumers is also expected to accelerate the growth of the Pharmacies/drug stores segment over the forecast years.

North America dominated the market and accounted for the largest revenue share in 2020. The increasing prevalence of various health disorders, increasing usage of immune-enhancing products, and high spending capacity by the consumers are the factors anticipated to provide the majority of market share to the region. However, Asia Pacific countries, such as China, India, and Japan, are expected to witness significant growth over the forecast years due to the large population, increasing awareness, and growing consumer base in these countries.  

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Immune Health Supplements Market Report Highlights

• The market is expected to grow well over the forecast period owing to the increasing prevalence of several infectious diseases and growing awareness to improve immune health
• The vitamin and mineral supplements segment dominated the market in 2020 owing to high demand and increasing use for immune health
• The respiratory tract infection application segment dominated the market in 2020 owing to the increasing adoption of immune supplements to reduce the risk of respiratory tract infection across the globe
• The self-medication segment dominated the market in 2020 majorly due to a growing preference for self-medicated use of supplements than prescription-based
• The pharmacies/drug stores segment dominated the market in 2020 owing to the availability of a wide range of products and high consumer preference
• North America dominated the market in 2020 majorly due to high spending capacity and increasing uses of immune health supplements in the region

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Immune Health Supplements Market Segmentation

Grand View Research, Inc. has segmented the global immune health supplements market based on product, form, application, mode of medication, distribution channel, and region:

Immune Health Supplements Product Outlook (Revenue, USD Million, 2016 - 2028)

• Vitamin and Mineral Supplements
  • Vitamin C Supplements
  • Vitamin D Supplements
  • Vitamin B complex Supplements
  • Multivitamins
  • Selenium Supplements
  • Zinc Supplements
  • Others
• Herbal Supplements
• Probiotic Supplements 
• Others

Immune Health Supplements Form Outlook (Revenue, USD Million, 2016 - 2028)

• Capsules
• Tablets
• Powder
• Liquid
• Gel
• Softgels
• Others

Immune Health Supplements Application Outlook (Revenue, USD Million, 2016 - 2028)

• Hair growth
• Gut health
• Respiratory tract infection
• Others

Immune Health Supplements Mode Of Medication Outlook (Revenue, USD Million, 2016 - 2028)

• Prescription based
• Self-medication

Immune Health Supplements Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)

• Pharmacies/Drug Stores
• Supermarkets and Hypermarkets
• E-commerce
• Others

Immune Health Supplements Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Immune Health Supplements Market

• Bayer AG
• Pfizer Inc.
• Sun Pharmaceutical Industries Limited
• Swisse Wellness Pty Ltd.
• GlaxoSmithKline
• Abbott Laboratories
• Amway Corp.
• The Nature's Bounty Co.
• Herbalife Nutrition of America, Inc.
• Himalaya Global Holdings Ltd.
• American Health
• Unilever
• Sanofi
• Novartis
• Boehringer Ingelheim
• Nestlè
• Danone

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.

HIV Clinical Trials Market Key Players ,Industry Share ,Growth, And Forecast To 2030: Grand View Research Inc.

 HIV Clinical Trials Market Growth & Trends 

The global HIV clinical trials market size is expected to reach USD 2.1 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.3% from 2022 to 2030. The main drivers of this market are increasing HIV vaccine trials, increased R&D activities for HIV clinical trials, and rising HIV infection awareness, which leads to a large number of patients enrolling in clinical trials. During the COVID-19 pandemic, there was a halt in the market growth.

This decrease in HIV and AIDS clinical trials is due to stay-at-home orders by the government to prevent COVID-19 that led to canceled and delayed trials. It also includes disruption in patient recruitment, hurdles in the conduction of clinical trials, and rapid study for the development of vaccines and medical products for the prevention of COVID-19 that lead to detrimental effects in HIV clinical trial studies. However, these impacts were significantly reduced by adopting strategic measures taken by the clinical trial conducting organization, regulatory authorities, and government bodies.

According to the WHO, in 2020, there were around 37.7 million people infected with HIV infection. To reduce this number, increasing funding and partnerships by biotechnology and pharmaceutical firms have been observed. Moreover, increasing initiatives are being taken by the government to find treatment and spread awareness regarding this disease. For instance, in October 2021, Samsung BioLogics collaborated with Enzolytics Inc. This partnership aims to manufacture Anti-HIV and Anti-SARS-CoV-2 Monoclonal Antibody Therapies.

However, a lack of awareness regarding HIV clinical research trials and the availability of treatments for preventing it are factors that are hindering the growth of this market. According to a report by BioMed Central Ltd. in Europe, out of 467 participants, about one-third of them were not aware of the HIV infection. As a result, ignorance and unawareness regarding the disease will prevent admission to an HIV clinical trial.

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HIV Clinical Trials Market Report Highlights

• Based on phase, the phase I segment held the largest revenue share of over 30.0% in 2021. In this segment, safety, tolerability, and pharmacokinetics of the drug are accessed
• By study design, the expanded access studies segment is expected to expand at the fastest CAGR of 6.4% over the forecast period. This is due to the rising innovation in this area
• North America dominated the market with a revenue share of over 45.0% in 2021. This can be attributed to several citizens being infected with multiple strains of HIV in this region. Due to this, multiple companies are investing in vaccine development to prevent HIV

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HIV Clinical Trials Market Segmentation

Grand View Research has segmented the global HIV clinical trials market based on phase, study design, sponsor, and region:

HIV Clinical Trials Phase Outlook (Revenue, USD Million, 2018 - 2030)          

• Phase I
• Phase II
• Phase III
• Phase IV

HIV Clinical Trials Study Design Outlook (Revenue, USD Million, 2018 - 2030)          

• Interventional Studies
• Observational Studies
• Expanded Access Studies

HIV Clinical Trials Sponsor Outlook (Revenue, USD Million, 2018 - 2030)       

• Pharmaceutical & Biopharmaceutical Companies
• Non Profit Organizations
• Others

HIV Clinical Trials Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in the HIV Clinical Trials Market

• PPD Inc.
• IQVIA Inc.
• Parexel International Corporation
• ICON plc
• Syneos Health
• WuXi AppTec 
• Janssen Global Services, LLC
• Gilead Sciences, Inc.
• Bionor Holding AS
• Charles River Laboratories
• GSK plc.
• SGS SA

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.

COVID-19 Detection PoC Kits Market Is Projected To Reach Approximately USD 2.67 Billion By 2030: Grand View Research Inc.

 COVID-19 Detection PoC Kits Market Growth & Trends

The global COVID-19 detection PoC kits market size is expected to reach USD 2.67 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of -3.9% from 2023 to 2030. The high prevalence of COVID-19, combined with the rising government initiative to tackle the COVID-19 pandemic around the globe is pushing the demand for POC COVID-19 kits for rapid COVID-19 detection, which is likely to drive the market. For instance, according to the WHO, the prevalence of coronavirus cases is high in countries such as the U.S., India, Brazil, France, and Germany and is reported to be 40.7% of overall coronavirus cases.

Transitioning focus of emerging players towards PoC and at-home testing and integration of advanced techniques has been witnessed in the last two years. This factor is expected to enhance patients’ convenience with time-consuming lab-based COVID-19 testing. For instance, in June 2021, Mylab Discovery Solutions, an Indian start-up, launched a new COVID-19 home test kit. This novel kit uses a nasal swab sample and a QR code to connect to a mobile app that offers results in 15 minutes.

COVID-19 Detection PoC Kits Market Report Scope 

Report Attribute	Details
Market size value in 2023	USD 3.516 billion
Revenue forecast in 2030	USD 2.67 billion
Growth rate	CAGR of -3.9% from 2023 to 2030
Base year for estimation	2022
Historical data	2021
Forecast period	2023 - 2030

Increasing government support and a rise in testing in the country are expected to positively impact the market. As of July 2022, SAHPRA approved 129 molecular test kits for coronavirus detection. Furthermore, in 2020, African CDC launched the Partnership to Accelerate COVID-19 Testing (PACT), which aims to treat, trace, and test COVID-19 cases that would further minimize the impact of the pandemic.

With a high number of coronavirus cases, increasing demand for time-efficient testing was observed. The key players in the market focus on developing time-efficient and accurate testing kits. For instance, in June 2021, Roche’s SARS-CoV-2 Antigen Self-Test Nasal obtained a CE mark for at-home coronavirus testing. The test is expected to be available through pharmacies and other locations in compliance with local guidelines & testing strategies.

Certain factors such as an increase in vaccination improved strategies to counter the pandemic, and natural immunity from previous infections, resulting in a mild response to SARS-CV-2 are responsible for a decline in deaths. The health authorities along with regional governments are focusing on intensifying vaccinations around the globe to tackle the present and future possibilities of coronavirus infections. These factors are expected to hamper the market growth in the coming years.

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COVID-19 Detection PoC Kits Market Report Highlights

• By sample handling, the RT-PCR testing segment held the largest share of the market. This is attributed to the majority of the SARS-CoV-2 detection tests being based on RT-PCR technology for quantification of RNA in the samples of patients infected with coronavirus, which in turn is likely to anticipate market growth
• The PoC testing devices/kits segment is expected to grow lucratively during the forecast period. Advancements in PoC technology for diagnosis of SARS-CoV-2 virus infection are aimed at minimizing assay duration and enhancing testing capacity to prevent further transmission of the disease
• The introduction of various molecular diagnostic tests requiring nasopharyngeal swab samples is expected to boost nasopharyngeal swab segment growth
• The hospitals segment accounted for the maximum revenue share in 2022 and is expected to dominate the market during the forecast period. This can be attributed to the increasing number of SARS-CoV-2 tests being conducted to prevent the transmission of infection
• North America held a significant share in the market in 2022 due to the presence of key payers focused on developing diagnostic tests by incorporating several technologies, and the presence of high R&D investment in the region
• In Asia Pacific, the market is expected to grow considerably in the future owing to the high prevalence of the coronavirus and the presence of key players 

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COVID-19 Detection PoC Kits Market Segmentation

Grand View Research has segmented the global COVID-19 detection PoC kits market based on sample handling, sample type, end-use, and region:

COVID-19 Detection PoC Kits Sample Handling Outlook (Revenue, USD Million, 2020 - 2030)

• RNA extraction systems
  • Rapid Testing Kits
  • Point-Of-Care Testing Devices
  • RT-PCR testing

COVID-19 Detection PoC Kits Sample Type Outlook (Revenue, USD Million, 2020 - 2030)

• Nasopharyngeal (NP) swab
• Oropharyngeal (OP) swab
• Nasal Swabs
• Saliva

COVID-19 Detection PoC Kits End-use Outlook (Revenue, USD Million, 2020 - 2030)

• Hospitals
• Home Care
• Diagnostic Centers and Clinics
• Others
  • Government Settings
  • NGOs

COVID-19 Detection PoC Kits Regional Outlook (Revenue, USD Million, 2020 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • South Korea
  • Bangladesh
  • Sri Lanka
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Kenya
  • Tanzania
  • Uganda
  • Ethiopia
  • Nigeria

List of Key Players in the COVID-19 Detection PoC Kits Market

• Abbott Laboratories
• Mylab Discovery Solutions Pvt. Ltd.
• Convergent Technologies
• Thermo Fisher Scientific, Inc.
• Hoffmann-La Roche
• Cepheid
• BGI
• Cue health Inc.
• SD Biosensor Inc.
• Quest Diagnostics

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.

Europe Hyperspectral Imaging Market Predicted to Witness Steady Growth During the Forecast Period: Grand View Research Inc.

 Europe Hyperspectral Imaging Market Growth & Trends

The Europe hyperspectral imaging market size is expected to reach USD 7.33 billion by 2030, according to a new report by Grand View Research, Inc. The industry is expected to register a CAGR of 9.4% from 2022 to 2030. The HSI technology is highly useful in detecting a broad spectrum of light rather than simply assigning the primary colors (red, green, and blue) to each pixel. It is used in a variety of applications, including the chemical, pharmaceutical, medical diagnostic, food, agricultural, aerospace, and defense industries. The growing use of HSI in these applications is expected to boost industry growth. Furthermore, the technological advancements in instrumentation and data analysis of HSI are expected to contribute to market growth.

The industry is expected to develop in the coming years as a result of rapid industrialization and the demand for high bandwidth communication. In addition, to obtain a competitive edge, leading competitors are shifting to product upgrades, regional expansions, portfolio diversifications, and mergers & acquisitions. For instance, in May 2022, Specim, a leading HSI instruments & systems manufacturer, in partnership with Grupo Álava, strengthened its presence in Spain and Portugal. In addition, industry expansion is predicted to be fueled by the increased R&D and growth prospects in Europe as well as efforts to uphold international product quality standards.

Growing chemical, pharmaceutical, food, aerospace, medical diagnostics, and defense industries coupled with increasing awareness about precision diagnosis across the region are also expected to contribute to the industry growth. Furthermore, there has been growing adoption of hyperspectral technologies in hospitals for the identification and diagnosis of solid tumors and imaging guidance tools during the joining of tissues after tumor removal, especially in gastric cancer. This is expected to boost the demand for HSI technology. Cancer has become one of the leading causes of death in Europe, thus augmenting the adoption of HSI. For instance, according to the International Agency for Research on Cancer, Europe accounted for about 4,398,443 new cancer cases and 1,955,231 deaths in 2020.

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Europe Hyperspectral Imaging Market Report Highlights

• By product, the hyperspectral camera segment is estimated to account for the largest share of the overall revenue by 2030
• The growth of this segment can be attributed to the recent advancements in sensor development
• By application, the military segment accounted for the largest share of the overall revenue in 2021
• The growth can be attributed to the advancements in data management of HSI along with component fabrication techniques, better accuracy, and consistency compared to other conventional imaging techniques

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Europe Hyperspectral Imaging Market Segmentation

Grand View Research has segmented the Europe hyperspectral imaging market based on product and application:

Europe Hyperspectral Imaging Product Outlook (Revenue, USD Million, 2018 - 2030)

• Camera
• Accessories

Europe Hyperspectral Imaging Application Outlook (Revenue, USD Million, 2018 - 2030)

• Military
• Remote Sensing
• Medical Diagnostics
• Machine Vision & Optical Sorting
• Others

List of Key Players in the Europe Hyperspectral Imaging Market

• Imec
• XIMEA GmbH
• Resonon, Inc.
• Headwall Photonics, Inc.
• Telops, Inc.
• Corning, Inc.
• Norsk Elektro Optikk AS
• Cubert GmbH
• EVK DI Kerschhaggl GmbH
• Inno-spec GmbH
• SPECIM Spectral Imaging Ltd.
• Diaspective Vision GmbH

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 Near-infrared Spectroscopy Market to Incur Considerable Upsurge During 2023– 2030: Grand View Research Inc.

 Near-infrared Spectroscopy Market Growth & Trends

The global near-infrared spectroscopy market size is expected to reach USD 806.4 million by 2030, registering a CAGR of 5.8% over the forecast period, according to a new report by Grand View Research, Inc. The growing implementation of an analytical technique for raw materials in numerous sectors, such as oil & gas and agriculture, coupled with their increasing applications is anticipated to spur industry growth. For instance, various herbs and plants with therapeutic and medicinal properties are analyzed through near-infrared (NIR) spectroscopy to assess the bio-active components. The industry has witnessed considerable growth in 2021 and is expected to have similar developments during the forecasted period.

The demand for the products from the material science sector is a substantial contributor to the revenue. NIR spectrometry provides significant advantages as a process analytical technology over other techniques including wet chemical methods, resulting in increasing preference from manufacturers. Other determinants, such as rapid advancement in the workflows of material verification, as well as improving risk management in the supply chain by manufacturers to fulfill the GMP criteria, are also contributing to the growth. The major 20 pharmaceutical manufacturers employ portable NIR analyzers to authenticate either raw materials or finished products to comply with GMP guidelines. Similarly, regulatory bodies in Europe, North America, Africa, and Asia have purchased the product to strengthen their counterfeiting efforts.

The COVID-19 pandemic had a positive impact on the demand from pharmaceutical manufacturers. However, the disruptions in industries, such as electronics & semiconductors, food & beverages, and chemical, are projected to have an adverse impact on the growth rate. For instance, in February 2021, the U.S. government reviewed the supply chain of pharma and semiconductors to strengthen the domestic investment and process of manufacturing. The imposed lockdown norms across the globe created shortages in supplies and inflated the cost of raw materials, this affected the profitability of the players. Similarly, the capability of NIR spectroscopy to identify the polymers that are used in the packaging of pharmaceutical and nutraceutical products is anticipated to be another determinant of industry growth.

As per the Code of Federal Regulations (CFR) for the packaging of pharmaceutical products, components used to store drug products are required to be identified before the use by Quality Control. On the other hand, this industry has a considerable number of players with regional dominance. The development of rapid and cost-effective NIR spectrometry is anticipated to accelerate the level of competition in the industry. For instance, in November 2020, a group of researchers developed a handheld NIR spectroscopy for organic solvents testing. Hence, the low-cost NIR spectroscopy with high accuracy will assist players to expand their presence in low- and middle-income countries.

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Near-infrared Spectroscopy Market Report Highlights

• The Fourier Transform-based (FT-NIR) spectrometers product segment held the major revenue share owing to the high accuracy in the material testing and verification
• The particle measurement application segment had a substantial share in 2022 due to strict measures by emerging countries for dealing with counterfeited medicines
• The portable near-infrared spectroscopy type segment is anticipated to register the fastest CAGR during the forecasted period
• MicroPHAZIR RX analyzer by Thermo Fisher Scientific is one of the portable NIR spectrometry that can analyze various applications
• Europe dominated the global industry in 2022 due to the establishment of a large number of pharmaceutical manufacturers and strict regulations for quality-check as a part of GMP compliance
• Asia Pacific is estimated to grow at the fastest CAGR over the forecasted period owing to the expansion of the semiconductors industry in emerging regions, such as India

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Near-infrared Spectroscopy Market Segmentation

Grand View Research has segmented the global near-infrared Spectroscopy market based on product, type, application, and region:

NIR Spectroscopy Product Outlook (Revenue, USD Million, 2018 - 2030)

• Dispersive Infrared Spectroscopy
• Fourier Transform-Based (FT-NIR) Spectrometers

NIR Spectroscopy Type Outlook (Revenue, USD Million, 2018 - 2030)

• Benchtop
• Portable

NIR Spectroscopy Application Outlook (Revenue, USD Million, 2018 - 2030)

• Medical Applications
• Astronomical Spectroscopy
• Remote Monitoring
• Agriculture
• Particle Measurement
• Material Science
• Industrial Use

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

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

List of Key Players of Near-infrared Spectroscopy Market

• Thermo Fisher Scientific Inc.
• Bruker
• PerkinElmer Inc.
• Oxford Instruments
• Brainbox Ltd.
• Malvern Panalytical Ltd
• Galaxy-Scientific
• ABB
• Metrohm AG
• KPM Analytics

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 In Vitro Diagnostics Market Outlook Growth Emerging Factors On Geography, Technological Advancements And Mounting Demand Forecast To 2030

 North America In Vitro Diagnostics Market Growth & Trends

The North America in vitro diagnostics market size is expected to reach USD 39.67 billion by 2030 and is expected to decline at 2.89% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. On the other hand, the market is also expected to cater to various growth opportunities in key segments. For example, the development of automated in vitro diagnostic solutions for hospitals and laboratories to provide accurate, efficient, and error-free diagnosis is anticipated to drive market growth in the coming years. In addition, rising efforts to develop POC solutions and the surge in adoption of POC tests across different medical diagnostic applications, including infectious diseases, pregnancy, cancer, and others, are fueling the market growth.

The market growth is likely to be fueled by rising efforts from leading participants to develop fast and accurate products that allow easy-to-use, advanced, and flexible testing options. For instance, in August 2022, DxGen Corp. and Precision Diabetes, Inc. announced an agreement to develop and launch a fully automatic POC analyzer in the U.S. market to measure a complete profile of diabetes tests. The analyzer is capable to test C-reactive protein, urine analysis, A1C levels, and other diabetes confirmatory tests at POC facilities.

Furthermore, in November 2021, Lumos Diagnostics, a key player in POC diagnostics, announced that its Lumos CoviDx SARS-CoV-2 Rapid Antigen Test received an interim order authorization from Health Canada. This test offers easy-to-interpret outcomes in just 15-20 minutes in serial testing of asymptomatic patients. The easy availability of point-of-care tests in home care settings, community pharmacies, retail health clinics, urgent care centers, intensive care units, and operating rooms is fueling the adoption of POC IVD products across the region.

The North America in vitro diagnostics industry is gaining traction as diagnostic laboratories frequently employ fully automated tools. Moreover, automated devices are highly scalable, meet a high level of performance expectations, eliminate batch testing, and provide quick results to medical professionals. Leading participants are continuously working on building automated devices because of these benefits. For instance, in May 2022, BD launched a new, fully automated high-throughput infectious disease molecular diagnostics platform in the U.S. market.

Furthermore, the increasing incidence of target diseases, favorable government initiatives, and the flourishing healthcare sector in the region are anticipated to offer lucrative growth opportunities.

For instance, in November 2022, Hologic, Inc. was awarded a USD 19 million contract from BARDA to support its research and development activities. In addition, in January 2022, Aline, Inc. & Nectar Product Development announced a strategic partnership to improve POC in vitro diagnostic products.

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North America In Vitro Diagnostics Market Report Highlights

• The reagents segment held the largest market share in 2022 owing to extensive R&D initiatives being undertaken by major market players for the development of novel test kits
• The molecular diagnostics segment accounted for the largest market share in 2022, thanks to rapid evolution in technology, increasing burden of target diseases, and surge in product launches by leading participants
• Based on application, the infectious disease segment dominated the market in terms of revenue share in 2022. On the other hand, the oncology segment is expected to be the fastest-growing segment over the forecast period
• The hospitals segment was the largest end-user in 2022, owing to the rising demand for affordable services, the surging trend for personalized treatments, and the presence of favorable reimbursement policies
• Canada is expected to exhibit the fastest growth over the forecast period in the region due to the increasing geriatric population, and large patient pool with a high prevalence of chronic diseases

Access Press Release@ https://www.grandviewresearch.com/press-release/north-america-in-vitro-diagnostics-market-analysis

Global Market for Generic Pharmaceuticals to Reflect Steadfast Expansion During 2023-2030: Grand View Research Inc.

 Generic Pharmaceuticals Market Growth & Trends

The global generic pharmaceuticals market is expected to reach over USD 682.9 billion expanding at a CAGR of 8.3% from 2023 to 2030, according to a new study by Grand View Research Inc. The growth of the generic pharmaceuticals market is largely attributable to the expiry of product patents which clears the way for generic drugs and biosimilar manufacturers to launch products in the market. For instance, in July 2020, Teva Pharmaceutical Industries Ltd. entered into a joint venture with Takeda Pharmaceutical Company Limited aimed to manufacture and commercialize specialty assets, complex generic drugs, and other pipeline opportunities. This joint venture was anticipated to drive the generic pharmaceuticals market.

Furthermore, increasing government initiatives to promote generic drug products for reducing the overall healthcare expenditure on pharmaceuticals and the patent expiry of major products. For instance, the Therapeutic Goods Administration (TGA) Australia aims to offer affordable, efficient, high-quality, and accessible generic drugs to citizens for their treatment. In support of generic drugs, the TGA has been trying to reduce regulatory and reimbursement burdens such as changing the landscape of generic drugs and reducing barriers through international collaboration with manufacturers to launch their generic drugs in the market. Such initiatives of the Australian government open new avenues in the market.

In the U.S., every year millions of Americans use a generic drug for their treatment, hence, generic drugs remain the best bargain in the health care insurance programs, and given the recent enactment of healthcare reform legislation such as the introduction of the Patient Protection and Affordable Health Care Act. P.L. 111-148. Under this act, prescription drug coverage is mandated by the government as part of these new health insurance plans. The introduction of such policies may improve the quality and efficiency of healthcare, thereby, driving market growth.

The rising disease burden of infectious & non-infectious diseases coupled with the increasing geriatric population which is prone to chronic diseases such as diabetes, and hypertension, among others, may positively affect the market growth. According to an article published, in September 2022, around 17.9 million general population suffer from cardiovascular diseases (CVD) every year worldwide. Diseases including TB, diabetes, cardiovascular diseases, and HIV were among the major causes of death. The increasing incidence and prevalence of these diseases is expected to drive the market.

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Generic Pharmaceuticals Market Report Highlights

• The small molecule segment by type held the largest share of 91.2% in 2022 and the large molecule segment is expected to grow at the fastest rate. The increasing approval and uptake of biosimilarsis expected to drive the growth of the large molecule segment.
• Based on the route of administration, the injectable segment is the fastest-growing segment due to the rising approval for biosimilar drugs.
• By application, cardiovascular diseases dominated the market with a share of 18.27% in 2022, owing to the highest prescription rate of generic statins coupled with a high disease burden.
• Specialty generics are expected to grow moderately due to increasing investments and the focus of pharmaceutical companies to develop value-added products. In 2019, the U.S. FDA approved 110 complex generics.
• Based on distribution channel, the retail pharmacy segment dominated the market space in 2022. Retail pharmacy chains across the world are investing in advanced technologies and undertaking new initiatives to improve sales and attract more customers.
• North America held the majority share in 2022. Favorable government initiatives coupled with an evolving reimbursement landscape for pharmaceutical products support continual growth.

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

Generic Pharmaceuticals Market Segmentation

Grand View Research has segmented the global generic pharmaceuticals market based on type, product, application, route of administration, distribution channel, and region:

Generic Pharmaceuticals Type Outlook (Revenue, USD Million, 2018 - 2030)

• Simple Generics
• Specialty Generics
• Biosimilars

Generic Pharmaceuticals Application Outlook (Revenue, USD Million, 2018 - 2030)

• Central Nervous System Disorders
• Respiratory Diseases
• Hormones & Related Diseases
• Gastrointestinal Diseases
• Cardiovascular Diseases
• Infectious Diseases
• Cancer
• Diabetes
• Others

Generic Pharmaceuticals Product Outlook (Revenue, USD Million, 2018 - 2030)

• Small Molecule
• Large Molecule

Generic Pharmaceuticals Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Oral
• Injectable
• Inhalable
• Others

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

• Online Pharmacies
• Retail Pharmacies
• Hospital Pharmacies

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

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Thailand
  • Rest of APAC
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of LATAM
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait
  • Rest of MEA

List of Key Players In Generic Pharmaceuticals Market

• Teva Pharmaceutical Industries Ltd.
• Viatris Inc.
• Novartis AG
• Sun Pharmaceutical Industries Ltd.
• LUPIN
• AbbVie Inc. (Allergan)
• AstraZeneca
• Sawai Pharmaceutical Co., Ltd.
• Hikma Pharmaceuticals PLC
• Reddy’s Laboratories Ltd.
• Cipla Inc.
• Sanofi
• Aurobindo Pharma
• Endo International plc.

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.