Induced Pluripotent Stem Cells Production Market Poised to Expand at a Robust Pace of USD 2.76 Billion Over 2030: Grand View Research Inc.

 Induced Pluripotent Stem Cells Production Market Growth & Trends

The global induced pluripotent stem cells production market size is estimated to reach USD 2.76 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.3% from 2023 to 2030. The increase in demand for induced pluripotent stem cells (iPSCs) in comparison to Embryonic Stem Cells (ESCs) has offered a significant drive to the market. Advantages such as no stem cell-related ethical issues, personalized treatment, and flexibility during cell-based research have created a favorable scenario for market growth. In addition, the prevalence of chronic disorders is also driving the growth of the induced pluripotent stem cells production market, as conditions like heart disease, stroke, diabetes, and many more can be treated by utilizing iPSCs-mediated therapy. For example, according to the International Diabetes Federation (IDF), 537 million people are already living with diabetes in 2021.

The rising research activities during COVID-19 pandemic have positively impacted the market. The pandemic fueled research in many fields as the SARS CoV-2 infection resulted in many diseases in the patients. For instance, in April 2021, researchers from USA stated that up to 25% of COVID-19 patients suffered cardiac dysfunction. Through their research article, they demonstrated the pathogenesis via exposure of iPSCs-derived cardiac cells to SARS CoV-2, and similar alterations were confirmed from human autopsy specimens of the patients. Such insights allow the use of induced pluripotent stem cells (iPSCs) as drug or therapy development platforms and their utilization in the management of the long-term effects of COVID-19.

Induced pluripotent stem cells are cells that are derived from adult somatic cells and then further reprogrammed to obtain the pluripotency as that of ESCs. These iPSCs are proving to be an ethically uncomplicated alternative for research that involves ESCs. The derivation of the ESCs is associated with the destruction of an embryo at the blastocyte stage, which has led to a maximum number of ethical debates. However, induced pluripotent stem cells have solved the ethical issue over the destruction of human embryos in research by involving only the genetic reprogramming of somatic cells. This has propelled the market growth and resulted in numerous applications including drug discovery, disease modeling, toxicology testing, and many others. For instance, in August 2021, Fate Therapeutics announced the treatment of the first patient with FT819 during clinical trials. FT819 is an engineered CAR-T cell therapy that is derived from iPSCs. Also, the rising focus of the research community on exploring applications of induced pluripotent stem cells in regenerative medicine due to their unique characteristics such as differential potential, self-renewable, immunomodulatory properties, and others; is set to drive the market expansion.

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Induced Pluripotent Stem Cells Production Market Report Highlights

• By process, the manual iPSC production process segment dominated the market and accounted for the largest revenue share of 77.2% in 2022.
• By workflow, the cell culture segment dominated the market with the largest revenue share of 37.3% in 2022. Cell culture workflow is inclusive of revenues generated from iPSC harvest products, expansion products, and differentiation products; thus contributing to the market relevance of this segment.
• By product, the consumables and kits segment dominated the market and accounted for the largest revenue share of 40.3% in 2022. The never-ceasing research and development activities in the iPSCs space are driving the demand for various consumables & kits.
• By application, drug development & discovery segment dominated the market with the largest revenue share of 43.3% in 2022.
• By end-user, the biotechnology and pharmaceutical companies segment dominated the market with the largest revenue share of 59.3% in 2022. The availability and adoption of various kits, consumables, and instruments along with iPSCs products are driving the revenue generation in this segment.
• North America dominated the market and accounted for the largest revenue share of 40.8% in 2022. The growing incidence of chronic diseases in this region, developed healthcare infrastructure, funds from private & government initiatives, and strategic business models are driving the revenue generation in the marketspace.

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Induced Pluripotent Stem Cells Production Market Segmentation 

Grand View Research has segmented the global induced pluripotent stem cells production market on the basis of process, workflow, product, product, end use, and region:

Induced Pluripotent Stem Cells Production Market Growth & Trends Process Outlook (Revenue, USD Million, 2018 - 2030)

• Manual iPSC Production Process
• Automated iPSC Production Process

Induced Pluripotent Stem Cells Production Market Growth & Trends Workflow Outlook (Revenue, USD Million, 2018 - 2030)

• Reprogramming
• Cell Culture
• Cell Characterization / Analysis
• Engineering
• Others

Induced Pluripotent Stem Cells Production Market Growth & Trends Product Outlook (Revenue, USD Million, 2018 - 2030)

• Instruments/ Devices
• Automated Platforms
• Consumables & Kits
  • Media
  • Kits
  • Others
• Services

Induced Pluripotent Stem Cells Production Market Growth & Trends Application Outlook (Revenue, USD Million, 2018 - 2030)

• Drug Development & Discovery
• Regenerative Medicine
• Toxicology Studies
• Others

Induced Pluripotent Stem Cells Production Market Growth & Trends End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Research & Academic Institutes
• Biotechnology & Pharmaceutical Companies
• Hospitals & Clinics

Induced Pluripotent Stem Cells Production Market Growth & Trends Regional Outlook (Revenue in USD Million, 2018 - 2030)

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

List of Key Players of Induced Pluripotent Stem Cells Production Market

• Lonza
• Axol Bioscience Ltd.
• Evotec
• Hitachi, Ltd.
• REPROCELL Inc.
• Merck KGaA
• REPROCELLS, Inc.
• Fate Therapeutics
• Thermo Fisher Scientific, Inc.
• StemCellsFactory III
• Applied StemCells, 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.

Electric Power Transmission And Distribution Equipment Market Expected to Receive Greater Traction As Manufacturers’ Contribution Swells

 Electric Power Transmission And Distribution Equipment Market Growth & Trends

The global electric power transmission and distribution equipment market size is anticipated to reach USD 326.5 billion by 2030 and is expected to expand at a CAGR of 5.7% from 2022 to 2030. The introduction of Internet of Things (IoT) equipment, such as Advanced Metering Infrastructure, allows for real-time analysis of energy consumption and power outages expected to drive the market’s growth. Further, the Artificial Intelligence managed smart grids offer an intelligent flow of data and energy between the consumer and energy provider. This continuous technological development in the energy sector is driving the demand for efficient and intelligent electric power transmission and distribution equipment market over the forecast period.

In addition, the growing strategic alliances among the organization to offer enhanced energy transition to end-users are surging the demand for the market. The collaborations of Schneider Electric and Hitachi Energy in June 2022, and GE and Uniper (Germany) in March 2022, are some of the examples that focus on offering innovative portfolios to boost customer value by providing them high voltage portfolios with support to their sustainability efforts. Furthermore, the joint venture of Hitachi Energy and Arteche in May 2022 focuses on meeting the increasing demand for Gas-insulated switchgear among the end-users. Henceforth, the growing innovation in transmission and distribution equipment to meet the changing demand from end-use sectors is creating the need for market growth.

COVID-19 has negatively impacted the electric transmission and equipment market due to a drop in energy demand and adversely affected the electric transmission and equipment market. The lockdown interrupted the supply chain and raw material manufacturing, which impacted the transmission and distribution of equipment production. A shortage of skilled labor in the energy sector is anticipated to hinder the development of renewable energy projects across the globe. Shortage of labor with the relevant knowledge and expertise, along with the flawed recruitment process in the organization, is highly impacting the energy sector and the demand for market growth over the forecast period.

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Electric Power Transmission And Distribution Equipment Market Report Highlights

• The transformer segment is expected to expand at a CAGR of 5.2% from 2022 to 2030. The rapid development of the transmission network and the rapid use of non-conventional and renewable energy sources will drive the power transformer market during the assessment period. Concerns about greenhouse gas emissions and their environmental hazards are increasing
• The indirect channel dominated the market and accounted for more than 54.38% of the global revenue share in 2021. The indirect channel segment is divided into four subsegments: commercial distribution, catalog distribution, retail box stores, and e-commerce. Due to their wide selection of products, these stores are often frequented by customers every month who purchase tools from them
• Asia Pacific region dominated the market and accounted for more than 52.40% of the global revenue share in 2021. The power distribution network has steadily expanded in several Asian countries in recent years to provide power to power-deprived communities and develop the power infrastructure in the region. Governments across the region planned to enhance their electricity networks. For instance, in 2022, the Madhya Pradesh PoorvKshetra Vidyut Vitaran Co Ltd. announced the latest tender for providing a digital 3-phase distribution transformer to the state grid 

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Electric Power Transmission And Distribution Equipment Market Segmentation

Grand View Research has segmented the global electric power transmission and distribution equipment market based on product, sales channel, and region:

Electric Power Transmission & Distribution Equipment Product Outlook (Revenue, USD Million, 2018 - 2030)

• Transformer
  • Power Transformer
  • Distribution Transformer  
• Switchgear
  • Circuit Breaker
  • Fuse
  • Distribution Control Panel
  • Others
• Insulators & Fittings
• Cables & Lines
• Others

Electric Power Transmission & Distribution Equipment Sales Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Indirect Channel
  • Commercial Distribution
  • Catalog Distribution
  • Retail Box Stores
  • Ecommerce
• Direct Channel

Electric Power Transmission & Distribution Equipment Regional Outlook (Revenue, USD Billion, 2018 - 2030)

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

List of Key Players in Electric Power Transmission And Distribution Equipment Market

• ABB
• Siemens
• GE
• Schneider Electric
• Eaton

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.

Transitional Care Management Services Market Expected to Deliver Dynamic Progression By 2030

 Transitional Care Management Services Market Growth & Trends

The global transitional care management services market size is expected to reach USD 729.6 billion by 2030, based on a new report by Grand View Research, Inc., expanding at a CAGR of 17.4% from 2022 to 2030. The growing geriatric population, rising number of diseases, injuries, and surgeries, and demand for the post-discharge facility are anticipated to contribute to healthy growth in the market. Besides, cost-effectiveness has fueled market growth. For instance, according to the rural health information hub, the U.S. is one of the major countries with a geriatric population. The country’s more than 46 million older adults (aged 65 and above) are living in the U.S. Between 2020 and 2030, the number of older people is expected to increase by almost 18 million. Besides, by 2050, the number is probable to grow to almost 90 million. This factor is expected to drive the market at a rapid pace.

The COVID-19 pandemic affected transitional care management (TCM) services in the initial phase of the pandemic as most of the population was not able to access the services due to lockdown and safety concerns. However, TCM services were offered with the help of non-face to-face (telehealth), thereby increasing the demand for telemedicine. Post-COVID-19, the market has witnessed rising demand for transitional care services, specifically from the elderly population.

Furthermore, a rising number of market players and increasing demand to improve patient care have led to the adoption of transitional care management services. PharMerica mentioned that home-based primary care has resulted in a 20% reduction in emergency room visits and a 50% reduction in hospital readmissions. Hence, TCM services are foreseen to reduce post-discharge complications and are expected to drive the demand for patient transitional care.

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Transitional Care Management Services Market Report Highlights

• Based on service, the patient TCM services segment held the largest share of over 30.0% in 2021 owing to the rising geriatric population and the presence of transitional care centers. Billing TCM services are expected to register the fastest CAGR of 18.2% over the forecast period owing to the highly concentrated demand for billing services from healthcare providers
• Based on end-use, the community settings segment accounted for the largest share of over 55.0% in 2021 as most of the patients are shifted to the community settings post-discharge. These settings are preferred for life-threatening traumas to lower the risks of hospital readmissions and reduce the complications related to patient transfer
• In 2021, North America dominated the market with a share of over 45.0% owing to the rising elderly population, the presence of key market players in the region, and well-developed healthcare facilities
• Asia Pacific is expected to expand at the fastest CAGR of 18.3% during the forecast period owing to the rising number of injuries and surgeries and the growing geriatric population in developing countries such as China and India

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Transitional Care Management Services Market Segmentation

Grand View Research has segmented the global transitional care management services market based on service, end-use, and region:

TCM Service Outlook (Revenue, USD Billion, 2017 - 2030)

• Patient TCM Services
  • Interactive Contact (direct contact, telephone, electronic)
  • Face-to-face Visit 
  • Non-face-to-face (telehealth)
• Healthcare TCM Services
  • Physicians
  • Non-physician Practitioners
• Billing TCM Services
• Documenting TCM Services
• Others

TCM Services End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• Inpatient Settings
• Community Settings

TCM Services Regional Outlook (Revenue, USD Billion, 2017 - 2030)

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

List of Key Players in Transitional Care Management (TCM) Services Market

• Humworld Inc.
• Rijuven Corp.
• PharMerica Corporation
• CareVitality
• ACT Health Solutions
• Medsien
• Wellsky
• Nextgen Healthcare
• Prohealth Select
• Well Living Initiative (WLI)

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 Market For Microfluidics to Witness Tremendous Growth and Expansion by 2030

 

Microfluidics Market Growth & Trends

The global microfluidics market size is expected to reach USD 71.90 billion by 2030, registering CAGR of 12.19% during the forecast period, according to a new report by Grand View Research, Inc. The demand for microfluidics-based devices is expected to increase due to the introduction of improved technology such as digital microfluidics, which enables on-chip biochemical analysis. An increase in research activities undertaken by analytical and clinical researchers have also driven the demand for microfluidics device. For instance, in May 2022, a research team from the University of Minnesota developed an innovative microfluidic chip for disease diagnosing that uses a minimum number of components and can be operated wirelessly by a smartphone.

Miniature microfluidic-based tools are gaining significant popularity among consumers, which has encouraged companies to invest in their development. Since microfluidics is the underlying principle of lab-on-a-chip devices, it offers various benefits such as minimal sample volume, minimal reagent usage, reduced waste, and rapid processing. Fully automated microfluidics with enhanced functional capabilities, and robust modularity are creating growth opportunities for manufacturers operating in the market. This can be attributed to the fact that modular chips can interface with several instruments. In addition, companies operating in the field of drug discovery are striving to minimize overhead costs and timelines to offset the estimated decline in revenue owing to a significant number of drugs going off-patent.

The implementation of microfluidics is expanding in the field of diagnostics, especially in POC diagnostics. This is also supplemented by microfluidics-integrated biosensor technologies that are expected to enhance POC diagnostics. The combination of microfluidic components with POC devices is largely focused on achieving sensitivity, stability, accuracy, affordability, and obtaining minimally invasive POC technology. Microfluidic POC technologies are expected to enhance patient care by ensuring personalization, early disease detection, and easy monitoring.

In addition, COVID-19 has further upscaled the use of microfluidics. Point-of-care testing involves small equipment, regulates the process, and has limited testing cycles. This allows single or multiple research laboratory services to evaluate biological samples and diagnose harmful diseases simultaneously. In general, stage assessment and rapid detection of viral epidemics are vital to overcoming pandemic situations and diagnosing rapidly. Therefore, combining microfluidic devices with point-of-care testing enhances detection efficiency. At the same time, point-of-care testing of microfluidic chips enhances user accessibility, improves sensitivity and accuracy, and reduces the detection time, all of which are advantageous in detecting SARS-CoV-2.

Further, several acquisitions in the microfluidics industry are aimed at enhancing technologies for expanding the scope of microfluidics-related applications. In June 2021, Danaher Corporation announced that Precision NanoSystems (PNI), a Canada-based solution provider, was acquired by its life science business. PNI offered proprietary genetic toolkit platforms, including LNP delivery and nanoparticle manufacturing via the microfluidic-based platform, which further complemented the company’s portfolio of life science products.

On the other hand, high operational costs hinder the microfluidics market growth to a certain extent. The fabrication of microfluidics chips has certain issues such as open channel construction that require bonding of machine parts to form a final enclosed structure. The open channel is formed by the etching of glass or silicon. This step is slow, costly, and requires the use of aggressive chemicals. In addition, most of the microfluidic prototyping methods are not compatible with the batch process, and are also complicated and costly.

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Microfluidics Market Report Highlights

• By technology, the medical segment upheld the largest share of the market in 2022 and is expected to grow at a CAGR of 12.50% in the forecast period. Microfluidics contributes significantly to medical applications of biological analysis, chemical synthesis, and information technology
• The PCR & RT-PCR segment is expected to grow lucratively at 14.99% in the forecast period. The application of microfluidics in PCR has been significant in recent years as it enables the whole biological process to be integrated resulting in multiplexed, high-throughput, and highly parallel assays
• By material, the polydimethylsiloxane (PDMS) segment is anticipated to grow at the fastest CAGR of 13.55% during the forecast period. The material offers several advantages such as biocompatibility, permeability, and low levels of autofluorescence, which broaden its applications in biotechnology and biomedical engineering
• Based on application, the lab-on-a-chip segment upheld the largest market share in 2022 and is projected to grow at a CAGR of 11.03% in the forecast period. This is due to its increasing adoption in medical settings focusing on human diagnostics, and DNA analysis
• Furthermore, the lab-on-a-chip offers high detection speed, and consistent sensitivity during amplification and detection procedures for DNA and RNA molecules. In addition, as lab-on-a-chip enables rapid sequencing of DNA probes, the segment is projected to dominate the market in the forecast period
• North America dominated the global market in 2022 and is projected to reveal a CAGR of 10.72% in the forecast period. The presence of key players and growth in research funding from government organizations and industries is likely to continue driving the region’s market during the forecast period
• Asia Pacific is expected to be the fastest-growing market with a CAGR of 15.76% in the forecast period. This growth is attributed to sophisticated research infrastructure, a developing economy, and affordable labor
• A few of the key players in the microfluidics market include Illumina, Inc., F. Hoffmann-La Roche Ltd, PerkinElmer, Inc, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, and others

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Microfluidics Market Segmentation

Grand View Research has segmented the global microfluidics market based on, technology, material, application, and region:

Microfluidics Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Medical/Healthcare
  • PCR & RT-PCR
  • Gel Electrophoresis
  • Microarrays
  • ELISA
  • Others
• Non-medical

Microfluidics Material Outlook (Revenue, USD Million, 2018 - 2030)

• Silicon
• Glass
• Polymer
• PDMS
• Others

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

• Lab-on-a-chip
  • Medical
  • Non-Medical
• Organs-on-chips
  • Medical
  • Non-Medical
• Continuous Flow Microfluidics
  • Medical
  • Non-Medical
• Optofluidics And Microfluidics
  • Medical
  • Non-Medical
• Acoustofluidics And Microfluidics
  • Medical
  • Non-Medical
• Electrophoresis And Microfluidics
  • Medical
  • Non-Medical

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

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

List of Key Players of Microfluidics Market

• Illumina, Inc.
• Hoffmann-La Roche Ltd
• PerkinElmer, Inc.
• Agilent Technologies, Inc.
• Bio-Rad Laboratories, Inc.
• Danaher Corporation
• Abbott
• Thermo Fisher Scientific
• Standard BioTools

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.

Business Process Management Market Outlook Growth Emerging Factors On Geography and Mounting Demand by 2030

 

Business Process Management Market Growth & Trends

The global business process management market size is anticipated to reach USD 61.17 billion by 2030, growing at a CAGR of 19.9% from 2023 to 2030, according to a recent study by Grand View Research, Inc. The business process management (BPM) market is technology-intensive and marked by constant growth due to the changing and evolving end-use industry demand. These solutions offer the potential to cope with all enterprise processes with better efficiency and allow businesses to accomplish process automation.

BPM service providers are coming up with advanced means for BPM implementation. BPM platform providers or vendors effectively offer a broad, cross-industry portfolio of solutions to meet functional and industry demands. Large firms undertake BPM awareness workshops as part of their consulting services, a vital aspect driving the BPM market.

Numerous companies are integrating Artificial Intelligence (AI) plus Machine Learning (ML) technologies with business process management software to lessen manual errors and advance IT systems innovation; global competition and new technologies are the key driving aspects behind the development and evolution of the business process management (BPM) industry. BPM has successfully delivered businesses with the means to raise profits and cut budgets.

With the amplified influence of these technologies, BPM can increase the efficiency of its services even more. BPM, available as SaaS in the cloud, offers complete software functionality without needing to install and maintain the software. It eliminates the overhead of managing a server infrastructure while executing a solution for BPM and workflow management. It involves software deployed remotely and generally on demand & via a 'pay as you go model.' Businesses are ever adopting SaaS-based cloud BPM as it provides fast time-to-solution and low infrastructure costs.

Technologies such as robotic process automation (RPA) that have arisen over the past few years have influenced the BPM industry. RPA, with its cost savings capabilities, speed, and effectiveness, is gradually making its way into all segments and all types of business processes. Robotic process automation has also arisen as the quickest-growing trend in BPM, mainly in the management segment, allowing high-value creation with quick time-to-value and prominent cost savings. For instance, in 2020, Appian Corporation launched the Appian Robotic Process Automated platform, which uses workflow, case management, artificial intelligence, and decision rules at the speed of low code.

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Business Process Management Market Report Highlights

• The automation segment is expected to register the highest CAGR from 2023-2030, more than 20%. The growth of this segment can be attributed to the increased efficiency and productivity which automation offers.
• The Cloud-based segment is expected to witness the highest CAGR of more than 20% during the forecast period. The segment's growth can be attributed to lower costs, increased scalability, and flexibility.
• The IT application segment is expected to occupy the largest market share of more than 17% in 2022. The rapid adoption of the latest technologies to improve business processes among IT companies has been a significant factor driving the growth of this segment.
• Asia Pacific is projected to witness the highest CAGR of more than 20% during 2023-2030. The increasing digitalization, improving economy, and increased manufacturing, among others, have contributed to the region's growth

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Business Process Management Market Segmentation

Grand View Research has segmented the global business process management market based on solution, deployment, end-user, application, and region:

Business Process Management (BPM) Solution Outlook (Revenue, USD Million, 2018 - 2030)

• Automation
• Process Modeling
• Content & Document Management
• Monitoring & Optimization
• Integration
• Others

Business Process Management (BPM) Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud-based
• On-premise

Business Process Management (BPM) End-user Outlook (Revenue, USD Million, 2018 - 2030)

• SMEs
• Large Enterprise

Business Process Management (BPM) Application Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI
• IT
• Retail
• Manufacturing
• Healthcare
• Government & Defense
• Others

Business Process Management (BPM) Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Business Process Management Market

• Accenture
• Appian Corporation
• BP Logix, Inc.
• Genpact
• Infosys Limited
• International Business Machines Corporation
• Kissflow Inc.
• Nintex Global Ltd.
• Open Text Corporation
• Pegasystems Inc.
• Red Hat, Inc.
• SAP SE
• Software AG
• Tata Consultancy Services Limited

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 Heart Closure Devices Market to Register Stable Expansion During 2023 – 2030: Grand View Research Inc.

 Heart Closure Devices Market Growth & Trends

The global heart closure devices market size was valued at USD 7.43 billion in 2030,registering a CAGRof 14.9% over the forecast period, according to a new report by Grand View Research, Inc. Increasing incidence of Atrial Fibrillation (AF), growing prevalence of congenital heart defects, upsurge in geriatric population, and favorable reimbursement policies are expected to boost the heart defect closure devices demand. Constant new product introductions and approvals along with rapid growth of the healthcare industry across emerging economies will further augment the industry growth during the forecast period. The COVID-19 pandemic affected the industry for FY 2020-21. The operations of the corporations were impacted significantly. Moreover, companies faced disruptions in the supply and increases in the prices of certain raw materials and components.

In addition, elective procedures were postponed during this period.However, the industry picked up in 2021, as companies witnessed higher sales across their business segments compared to the pandemic. Abbott’s medical devices sales revenue grew over 21% to $14.367 billion in 2021 over the last twelve months. The sales increase in 2021 was driven by double?digit growth across all of the company’s Medical Devices divisions, led by Diabetes Care, Structural Heart, and Electrophysiology. Heart defect closure devices is highly competitive and are characterized by extensive research and development and rapid technological change. The buyers consider many factors when choosing suppliers, including product reliability, clinical outcomes, product enhancements, breadth of product portfolio, pricing and product services provided by the manufacturer, and product availability.

As a result, the company’s market share can shift owing to technological innovation and other business factors. In addition, product problems, physician advisories, and safety alerts are anticipated to affect the company’s market share and foothold across the regions during the forecast period. Furthermore, the industry has undergone significant consolidation in recent years. Certain market players have been able to expand their portfolio of products and services through this consolidation process, and they can offer customers a broader array of products and services. For instance, in January 2017, Abbott completed the acquisition of St. Jude Medical, Inc. Thus, establishing the company as a leader in the medical device field. St. Jude Medical's solid positions in atrial fibrillation, structural heart, heart failure, and chronic pain added to Abbott's leading positions in mitral valve disease and coronary interventions.

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Heart Closure Devices Market Report Highlights

• The Left Atrial Appendage Closure (LAAC) devices segment dominated the industry in 2022. Rising awareness campaigns in underserved markets, the growing prevalence of atrial fibrillation, and government initiatives drive the LAAC devise market
• Patent Foramen Ovale (PFO) market is significantly determined by the high occurrence of ischemic stroke. As per the Centers for Disease Control and Prevention (CDC), each year, more than 795,000 individuals in the U.S. have a stroke. About 87% of all strokes are ischemic strokes
• The development of Congenital Heart Defect (CHD) Closure devices is expected to be accelerated by the rising incidence of congenital heart disease. For instance, as per the CDC, CHDs affect approximately 1% of?or nearly 40,000?births per year in the U.S.
• Asia Pacific region is anticipated to register rapid growth in the coming years owing to the presence of high unmet needs coupled with a rapidly increasing geriatric population, availability of products at lower costs, and favorable government support
• Growing geographic expansion, country-specific approvals, and R&D investments by key companies, as well as the number of innovative product pipelines, are expected to contribute to market growth. In September 2021, Abbott announced that Amplatzer Talisman patent foramen ovale occlusion system has been approved by the U.S. FDA to cure patients with PFO at risk of recurrent stroke

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Heart Closure Devices Market Segmentation

Grand View Research has segmented the global heart closure devices market on the basis of closure type and region:

Heart Closure Devices Closure Type Outlook (Revenue, USD Million, 2017 - 2030)

• Congenital Heart Defect Closure
  • By Technique
    • ASD
    • PDA (inclusive of PDA closure and embolization coils)
    • VSD
  • PFO Closure
  • LAA Closure

Heart Closure Devices Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players of Heart Closure Devices Market

• Abbott
• L. Gore & Associates, Inc
• Boston Scientific Corp.
• Occlutech
• Heartstitch
• SMT
• Cardia, Inc.
• Lifetech Scientific Corp.
• Lepu Medical Technology(Beijing)Co.,Ltd.
• AtriCure, 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.

Connected Drug Delivery Devices Market to Witness Exponential Growth by 2030: Grand View Research Inc.

 Connected Drug Delivery Devices Market Growth & Trends

The global connected drug delivery devices market size is expected to reach USD 25.63 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 23.45% from 2023 to 2030. Key factors driving the market growth include the need to increase patient medication adherence, R&D initiatives, and the acceleration of remote digital monitoring. In September 2022, Ypsomed for instance, partnered with Sidekick Health to expand Ypsomed's device and SmartServices offering by incorporating a self-injection module into Sidekick's known digital therapeutics solution. Through this, patients with chronic diseases are likely to receive a personalized patient experience due to the integration of Ypsomed's devices with Sidekick's digital health behavioral economics and gamification expertise, and pharmaceutical customers will benefit from a comprehensive service, and leading digital therapy management system.

One of the technological advancements is connected drug delivery, which has a sensor that enables communication and data transfer to servers and apps over cellular, Bluetooth, and Near Field Communication (NFC) networks. One of the main benefits of these connected drug delivery systems is that it gives patients reminders and adherence trackers, reducing the effort needed to comply with the prescribed medication schedule. This further reduces the cost of prescription waste, especially that from the increasingly popular biological injectable drugs that insurance would be required to pay for. Additionally, doctors can monitor how well their patients are adhering to their recommended therapies owing to connected drug delivery systems and change the patient's care as appropriate. For instance, connected drug delivery devices can be beneficial to manage self-medication in persons with chronic diseases like diabetes and asthma. In the upcoming years, these factors are anticipated to accelerate market growth.

Worldwide rising rates of chronic illnesses like COPD, diabetes, and asthma are anticipated to propel the business of connected drug delivery devices. For instance, according to research on estimates of diabetes prevalence for 2021 that was published in January 2022 by the National Library of Medicine and National Center for Biotechnology Information, the disease prevalence among people aged 20 to 79 in 2021 was estimated to be 10.5% and could increase to 12.2% by 2045. Diabetes is thought to affect both men and women equally, however, it is most common in people aged 75 to 79. Additionally, as connected drug delivery devices with greater advantages have become more popular, manual drug administration devices have been increasingly replaced. These factors are anticipated to fuel connected drug market growth.

The global COVID-19 pandemic has had a negative impact and raised the need for healthcare services. This has accelerated the trend of redesigning the healthcare system for improved assistance and quick growth of technology. While most global markets went down in 2020, this market showed unprecedented growth despite difficult conditions and a lockdown in most countries. Due to the lockdown restrictions, there was an unexpected rise in demand for drug delivery systems for use in-home care, which resulted in an increase in demand for connected drug delivery devices. 

The report “Connected Drug Delivery Devices Market Size, Share & Trends Analysis Report, By Product (Connected Sensors, Integrated Connected Devices), By Route of Administration (Parenteral, Inhalational), By Application (Asthma, COPD, Diabetes Management), By Region, And Segment Forecasts, 2022-2030” is available now to Grand View Research customers and can also be directly purchased from 

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Connected Drug Delivery Devices Market Report Highlights

• The global market was valued at USD 4.84 billion in 2022 and is expected to grow at a CAGR of 23.45% during the forecast period
• The standalone components and software segment is expected to grow for the highest revenue share during the forecast period, owing to the increasing demand for connected sensors to transform traditional drug delivery devicesinto connected drug delivery devices without interfering with their normal functioning and can be reused even if the device is disposable
• The parenteral segment is expected to drive market growth during the forecast period, owing to the numerous advantages offered by smart & connected parenteral devices over conventional ones
• Diabetes Management dominated the market with a share of over 36.23% in 2022. This is owing to factors such as the rising prevalence of diabetes, technological advancements, and R&D in insulin delivery devices
• North America is expected to dominate the market over the forecast period. This is due to the region’s high per capita healthcare spending, rapid adoption of technology presence of key players, and growing adoption of remote monitoring for medication adherence 

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Connected Drug Delivery Devices Market Segmentation

Grand View Research has segmented the global connected drug delivery devices market based on product, application, route of administration, and region: 

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

• Standalone Components & Software
• Integrated Devices

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

• Parenteral
• Inhalational

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

• Asthma
• COPD
• Diabetes Management
• Others

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

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

List of Key Players in the Connected Drug Delivery Devices Market

• Teva Respiratory, LLC
• Novo Nordisk A/S
• Phillips-Medisize, LLC
• Medtronic
• Adherium Limited
• Tandem Diabetes Care, Inc.
• Biocorp
• Propeller health
• Ypsomed AG
• Aptar Pharma

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.

Golf Equipment Market Projected To Be Worth USD 11.01 Billion By 2030: Grand View Research Inc.

 Golf Equipment Market Growth & Trends 

The global golf equipment market size is expected to reach USD 11.01 billion by 2030, registering a CAGR of 5.0% during the forecast period, according to a new report by Grand View Research, Inc. Development of the golf courses around the world, increased golf tourism, the rising popularity of the sport, and growing consumer disposable income are some of the key factors fueling the growth.

The expansion of the golf equipment market is predicted to be fueled by the rise in golf tourism and government funding. Governments are promoting golf resorts to domestic and foreign tourists in an effort to increase foreign exchange through the growth of golf tourism and thereby advance the economy. Golf equipment sales and demand will increase as a result of golf tourism. Scotland, for instance, launched a new golf tourism and tourist plan in June 2021 with a focus on destination development, community involvement, education, and health. Therefore, the growth of the market is being driven by the rise in golf tourism as well as government backing.

The golf equipment market is being shaped by technological breakthroughs. To meet the market's demand for top-notch golf equipment, businesses are developing products with improved technologies. For instance, the second generation of the high-visibility range of pix golf balls was introduced in January 2020 by US-based innovation and technology leader Taylor Made Golf. For the first time, both the TP5 and TP5x models will support pixTM, a new visual technology developed in association with Rickie Fowler.

The hospitality sector continuously focuses on expanding and enhancing its facilities to attract more people. Hotels in western countries are increasingly focusing on promoting various sports activities, golf being one of them. For instance, the Prukljan project in Europe includes a hospitality tourism zone, an entertainment center, and a golf field along with other accommodation capacities. The golf area has been planned on about 160 hectares and will include a golf course surrounding at least 60.0% of the total area.

Moreover, golf being more of a personal game, the manufacturers are required to have detailed scrutiny while manufacturing various products such as clubs, balls, and gloves in particular as they are the main gears. Golf equipment is one of the most lucrative sports gear for endorsement earning opportunities, driven majorly by the profit potential from selling the products. This has resulted in the development of a new consumer profile for professional golfers. For instance, Nike’s marketing professionals have established strategies that enable the business to tap the new psychology of enthusiastic golfers. The company targeted middle-aged male golfers of age ranging from 21 to 30 by endorsing Tiger Woods.

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Golf Equipment Market Report Highlights

• The golf club segment has dominated the golf equipment market during the forecast period owing to the usage of different types of clubs for various shots played on the field.  The higher cost of the clubs is also one of the major factors contributing to its largest market share. Hybrid clubs present in the market are mostly preferred by golfers owing to their accuracy while playing shots
• The expansion of Golf Courses and an increasing number of golfers in North America are driving demand for golf equipment. Strong economic growth and  increasing expenditure power of the consumers are also primarily driving the market growth in the region
• The sporting goods retailer segment as a distribution channel dominated the largest share of around 48.5% in 2022. The availability of various brands in one place helps in easy price and specification comparison which is therefore a driving factor for people to make purchases of golf equipment from such stores
• North America dominated the global market with a share of around 53.4% in 2022 driven by the rising trend of sporting activities across the region. A rigid supply chain in the region is boosting the sales of golf equipment

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Golf Equipment Market Segmentation

Grand View Research has segmented the global golf equipment market based on the  product, distribution channel, and region: 

Golf Equipment Product Outlook (Revenue, USD Million; 2017 - 2030)

• Golf Club
• Golf Balls
• Golf Gear
• Gold Footwear & Apparel

Golf Equipment Distribution Channel Outlook (Revenue, USD Million; 2017 - 2030)

• Sporting Goods Retailer
• On-Course Shops
• Online
• Others

Golf Equipment Regional Outlook (Revenue, USD Million; 2017 - 2030)

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

List of Key players of the Golf Equipment Market

• Callaway
• SRI Sports Limited
• Acushnet Holding Corp.
• Taylor Made
• Titleist
• Cleveland
• Mizuno
• Wilson
• Odyssey
• Ping

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Impact of Existing and Emerging Biometrics As A Service In Healthcare Market Trends And Forecast 2022-2030: Grand View Research Inc.

 Biometrics As A Service In Healthcare Market Growth & Trends

The global biometrics as a service in healthcare market size is expected to reach USD 2.43 billion by 2030, registering a CAGR of 17.6% during the forecast period, according to a new report by Grand View Research, Inc. The market is propelled by the increasing adoption of biometrics across healthcare organizations due to its cost-effectiveness, ease of deployment, and data security management. The demand for biometrics as a service in healthcare is expected to constantly rise as healthcare organizations are realizing the need to digitize their operations and move on from the traditional method of patient record management.

Biometrics as a service helps healthcare organizations integrate their operations and services with cloud technology and also modify these services according to their convenience. An increase in the number of cyber-attacks and medical data theft has been one of the driving factors in the market. Although, the privacy of the biometric data being stored on the cloud is a rising concern, especially in the case of public cloud deployment.

The adoption of biometrics as a service increased significantly during the COVID-19 pandemic. The spread of the COVID virus was a constant risk to patients and healthcare professionals during the pandemic. Hence, the use of contactless biometrics gained popularity in a rush to contain the spread of and secure healthcare premises. Consumer apps, surveillance, remote access, and pharmacy dispensing are some of the major healthcare tools integrated into cloud-based biometrics. As a result of limitations to physical interactions, many of the patients require remote treatment/monitoring. This resulted in the adoption of biometric solutions for remote identification on a large scale.

The biometric system can supplement the user's verification to healthcare IT frameworks (online and local) and support the institution's Identity and Access Management (IAM) strategies. User verification concerning fast identity online (FIDO) specifications gives a lot less complex and far more secure system, than password-based verification, and is structured given privacy compliance for scalable and open frameworks across sites and applications.

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Biometrics As A Service In Healthcare Market Report Highlights

• The multimodal segment dominated the market with the largest market share of 54.9% in 2021, as multimodal biometric systems reduce data distortion, it is cost-effective and more accurate than unimodal
• The multimodal segment is expected to witness the fastest growth with a CAGR of 18.2% during the forecast period. Multimodal biometrics on the other hand uses two or more traits to verify and identify an individual. Multimodal biometrics has a significantly greater verification rate as compared to unimodal biometrics and hence is more popular among healthcare organizations
• Based on application, the mobile application segment held the dominant share of 41.1% in 2021. Companies worldwide have been launching initiatives to raise awareness about cybercrime and data security in recent years. The rising need for appropriate authentication techniques in mobiles is driving the mobile application segment in the market
• The mobile application segment is anticipated to exhibit a significant CAGR of 19.2% over the coming years from 2022 to 2030, owing to the increased awareness for security in mobile applications and the need as biometric technology eliminates the need for users to remember passwords, there is no risk of data loss
• Based on scanner type, the fingerprint recognition segment held the largest market share of 49.4% in 2021, by using fingerprint technology, patients and healthcare professionals achieve highly secure and assured privacy for their healthcare data. Moreover, the segment is dominating as fingerprints are different for different individuals which increases the accuracy of the results
• The facial recognition segment is expected to witness the fastest growth over the forecast period with a CAGR of 20.9% from 2022 to 2030. The facial recognition technology scans their face and compares them to a database at the hospital. Without the need for paperwork or other identification documents, the patient's identity is verified in real-time
• In 2021, North America dominated the market in terms of the revenue share of 48.7% owing to the growing adoption of biometrics as a service across various verticals within the healthcare industry. Moreover, increased demand during COVID-19 accelerated the growth of the market
• Asia Pacific is projected to witness a promising growth rate over the forecast period with a CAGR of 19.0% from 2022 to 2030. Increased terror risks and rising government expenditure on security are two main drivers driving access control solution sales in the Asia Pacific region. Furthermore, China's expanding economy produces a large need for security solutions

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Biometrics As A Service In Healthcare Market Segmentation

Grand View Research has segmented global biometrics as a service in healthcare market report based on type, application, scanner type, and region:

Biometrics As A Service In Healthcare Type Outlook (Revenue, USD Million, 2017 - 2030)

• Unimodal
• Multimodal

Biometrics As A Service In Healthcare Application Outlook (Revenue, USD Million, 2017 - 2030)

• Site Access Control
• Time Recording
• Mobile Application
• Web and Workplace

Biometrics As A Service In Healthcare Scanner Type Outlook (Revenue, USD Million, 2017 - 2030)

• Fingerprint Recognition
• Iris Recognition
• Palm Recognition
• Facial Recognition
• Voice Recognition
• Others

Biometrics As A Service In Healthcare Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of key players of Biometrics As A Service In the Healthcare Market

• Thales
• Fujitsu
• Aware, Inc.
• BIO-key International
• MorphoTrust USA
• NextGate, Imprivata, Inc.
• Suprema
• Imageware
• M2SYS Technology

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.