What are Biggest Factors Fuelling Surge of Global Customized Peptide Synthesis Market?

Rapid technological developments in peptide utilization in the pharmaceutical industry are one of the biggest factors responsible for the rise in the demand for customized peptide synthesis across the world. Peptide has been conventionally produced from natural sources such as adrenocorticotropic hormone (ACTH) from bovine and porcine pituitary and insulin from canine and bovine pancreas. This production process was time-consuming and produced lower quantities of peptide. However, due to the technological advancements in the last few years, manufacturers have started shifting toward the synthesis of synthetic peptides such as octreotide, leuprorelin, and oxytocin.

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The other major factor propelling the demand for customized peptide synthesis is the rising participation of private and public research organizations in synthetic biology research across the globe. The number of private and public companies conducting research and development (R&D) activities on synthetic biology increased tremendously from 2009 to 2013. In addition to this, there has been a huge rise in the investments made on R&D activities for the development of advanced bio-based products in order to overcome several global health challenges such as the increasing prevalence of chronic diseases.

Driven by the above-mentioned factors, the valuation of the global customized peptidesynthesis market is predicted to increase from $268.8 million in 2018 to $390.0 million by 2024. The market is also expected to advance at a 6.4% CAGR during the forecast period (2019–2024). There are two types of products used in the customized peptide synthesis process — equipment and reagents. Of these, the reagents are expected to register faster growth in utilization during the forecast period, on account of the mushrooming usage of numerous types of reagents, such as additives, buffers, and precipitation agents for peptide synthesis.

Therefore, it can be said with full confidence that the demand for customized peptide synthesis methods will increase throughout the globe, in the coming years, owing to the rising need for customized peptides in various commercial applications and the increasing R&D activities for the development of innovative bio-based products.

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How is Rising Incidence of Neurological Conditions Driving Neurostimulation Device Market Forward?

 As per the Parkinson’s Disease Foundation, about 7–10 million people suffer from Parkinson’s disease, globally. In the U.S., each year, 60,000 new cases of Parkinson’s disease are reported. Further, epilepsy is one of the most common neurological disorders and affects people of all age groups. The World Health Organization said that about 50 million people across the world suffer from epilepsy, and about 2.4 million people are diagnosed with the condition every year. Chronic pain is associated with these diseases and many other conditions and may even be a result of injuries, which greatly affects the way of life. In a study conducted by the International Association for the Study of Pain, it was reported that about 2.8% of the total diabetic population suffered from peripheral neuropathic pain in 2000, and it is predicted to grow to 4.4% by 2030.

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Neurostimulation devices are programmable, implantable medical devices that provide electrical stimulation to the targeted area. These implantable systems modulate neuronal activity in specific cortical, deep subcortical, cranial, spinal, and peripheral nerve structures, thereby providing relief to the patients. The demand for these devices was the highest in North America among all the regions, namely Asia, Europe, and Rest of the World. This was attributed to the surging geriatric population and the growing incidence of neurological disorders in the region. Further, the popularity of minimally invasive treatment and the increasing research & development activities in the development of innovative neurostimulation devices have been instrumental in driving the regional market forward. The neurostimulation device market size is expected to register a 12.9% CAGR during 2016–2022.

These devices are used for treating various conditions including depression, gastroparesis, hearing loss, epilepsy, neurologic urinary and fecal incontinence, Parkinson’s disease, and pain management. During 2012–2015, neurostimulation devices were utilized the most for pain management and would continue being their largest application area in the coming years as well. In terms of duration, pain can be chronic or acute. Chronic pains more commonly affect nerves, bones, and the back. These pains can be debilitating, and to treat them, neurostimulation devices are used. These devices work by generating mild electric signals that reach the brain faster than pain signals, and trick the patient into feeling the tingling sensation instead of pain, they block pain signals before they reach the brain, thereby providing relief to patients. Some common pain management devices available in the neurostimulation device market are peripheral nerve stimulation device and SCS device.

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How is Rising Awareness About Health and Fitness Contributing to the Growth of Global Wearable Medical Devices Market?

The increasing awareness amongst the people about fitness and wellness is one of the major factors fuelling the surge in the demand for wearable medical devices across the world. Several organizations and companies are regularly organizing awareness programs and campaigns for increasing the awareness in people regarding health and wellness and for making them understand the importance of staying healthy and fit. In addition to this, the wearable medical devices contain important information and advice from nutritionists and dieticians, which make them highly sought-after across the globe.

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The rising prevalence of obesity and various other chronic diseases, soaring geriatric population, and surging preference for technologically advanced products are the other major factors boosting the demand for wearable medical devices throughout the world. Due to these factors, the revenue generated from the worldwide sales of wearable medical devices is expected to reach $67.2 billion by 2030, which is a considerable increase from the $10.6 billion revenue that the sales of these devices generated in 2019. The global wearable medical devices market is predicted to progress at a CAGR of 18.3% during the forecast period (2020–2030).

Globally, North America observed the highest utilization of wearable medical devices during the historical period (2014–2019), owing to the presence of several well-established wearable medical devices manufacturing companies and advanced healthcare infrastructure in the region. The Asia-Pacific (APAC) region is expected to record the highest adoption of wearable medical devices during the forecast period. This is primarily attributed to the increasing healthcare expenditure, soaring technological innovations, ballooning investments in healthcare and digital healthcare solutions by both public and private companies, booming geriatric population, and increasing incidence of chronic diseases, in the region.

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This Study Covers

·         Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis

·         Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market

·         Uncovers potential demands in the market

·         Porter analysis identifies competitive forces within the market

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How is U.S. Government Contributing to Growth of Aspiration and Biopsy Needles Market in North America?

One of the most important factors leading to the rising demand for aspiration and biopsy needles is the increasing prevalence of cancer across the world. According to the World Health Organization (WHO), the number of people who died from cancer stood at 9.6 million in 2018. Furthermore, the number of people suffering from malignant tumors will increase from 12.7 million in 2008 to 21.4 million in 2030, which will considerably boost the demand for aspiration and biopsy needles, on account of the fact that biopsy and aspiration procedures are extensively used for studying the nature of tumors.

The other major factors contributing to the surge in the demand for aspiration and biopsy needles are the rising popularity of minimally invasive surgeries, soaring healthcare expenditure in several countries, and rapid technological innovations in the devices used for disease diagnosis. Due to these factors, the global aspiration and biopsy needles market size is predicted to increase from $801.5 million in 2019 to $1,717.9 million in 2030. The market is expected to progress at a CAGR of 7.2% during the forecast period (2020–2030).

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The biggest rage presently being witnessed in the aspiration and biopsy needles market is the rising approvals for aspiration and biopsy needles. For instance, the EZ Shot 3 Plus 25 G EUS, which is a single-use needle developed by Olympus Corporation for fine-needle biopsy and aspiration procedures, received approval from the U.S. Food and Drug Administration (USFDA) in September 2018. This needle can be used to analyze and study the extramural and submucosal lesions found in different sections of the gastrointestinal tract.

Therefore, owing to the rising incidence of cancer, increasing healthcare expenditure, and surging awareness amongst the people throughout the world about the various cancer diagnosis processes, the demand for aspiration and biopsy needles will observe significant growth in future.

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What are Major Factors Fuelling Surge of Global Organ-On-Chip Market?

 One of the biggest factors propelling the demand for organ-on-chip is the increasing number of investments being made in research by the governments of several countries all around the world.  For instance, the National Center for Advancing Translational Sciences (NCATS) gave a research grant worth $2 million to Emulate Inc. in July 2017, in order to allow the company to leverage its human Brain-Chip system and create a fully automated research platform for conducting experiments on the International Space Station. 

The other major factor responsible for the rising demand for organ-on-chip is the increasing need for alternatives to the conventionally used animal models in research activities. In many countries, doctors and medical researchers are raising concerns over the scientific validity and translatability of the animal alternatives of human diseases and this is massively boosting the demand for alternative drug and diseases research techniques. The increasing initiatives being taken by the pharmaceutical companies for promoting the adoption of organ-on-chip models are expected to further push the demand for organ-on-chip based research methods in future.

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Driven by the above-mentioned factors, the global organ-on-chip market is predicted to advance at a 40.1% CAGR during 2018–2025 (forecast period). The valuation of the market is expected to rise from $11.0 million in 2017 to $163.1 million by 2025. Organs-on-chips are essentially tiny models of body parts, which can simulate the functioning of the real thing. These products are used in various applications, such as physiological model development, toxicology research, and drug discovery. Amongst these, the drug discovery applications are expected to record the fastest growth in the usage of organ-on-chip products during the forecast period.

Hence, it can be concluded that owing to the surging investments in advanced technologies and research methods in the healthcare industry and the shifting focus toward alternative testing models in drug discovery and disease research processes, the demand for organ-on-chips will increase considerably in the coming years.

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This Study Covers

·         Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis

·         Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market

·         Uncovers potential demands in the organ-on-chip market

·         Porter analysis identifies competitive forces within the market

·         Provides information on the historical and current organ-on-chip market size and the future potential of the market

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Transdermal Drug Delivery Systems Market Growing Owing to the Need to Deal with Pain

 Across the world, the lifestyle is becoming increasingly sedentary and fast paced. While sitting on a chair in offices all day leads to physical inactivity, the fast pace of life results in emotional stress. With lack of time, people’s dietary pattern gets affected, which leads to improper nutrition. All these factors, combined with tobacco and alcohol abuse, result in chronic diseases, such as diabetes, chronic obstructive pulmonary disease (COPD), cancer, and several cardiovascular diseases (CVD), the prevalence of all of which is rising. As per the World Health Organization, the number of diabetics rose to 422 million in 2014, from 108 million in 1980.

All these conditions require long-term medication, which is increasingly being delivered via the skin. Therefore, owing to the rising prevalence of chronic diseases, the transdermal drug delivery systems market is projected to grow from just over $30.0 billion in 2016, to more than $60.0 billion in size by 2023, at a CAGR of 9.8% during 2017–2023 (forecast period). Such devices are of two types — passive, which send the medication into the dermis simply via osmosis, and active, which use an external force, such as electricity, to accomplish the task. In 2016, the passive variants were more popular due to their easy application.

Across the globe, North America recorded the highest usage of such devices, due to the growing number of chronic disease patients and the increasing demand for drug delivery methods that are painless. During the forecast period, people in Asia-Pacific (APAC) are predicted to adopt such devices the most rapidly, as a result of the improving healthcare facilities, surging healthcare expenditure, high population, especially of the elderly, and increasing awareness on the technology. Within the region, the transdermal drug delivery systems market growth in India would be the fastest.

Thus, as the number of people suffering from painful conditions and diseases requiring medication increases, so would the use of devices that deliver medication through the skin, thereby making the process almost painless.

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How is Prevalence of Various Diseases Driving Medical Gases and Equipment Market?

The prevalence of chronic, lifestyle-associated, and respiratory diseases is on the rise across the world. For example, as per the Centers for Disease Control and Prevention (CDC), about 117 million people in the U.S. were suffering from at least one chronic disease in 2012. Similarly, according to the World Health Organization, nearly 250,000 people die of asthma every year around the world. In order to treat these diseases, several medical gases and devices are required. Hence, as the prevalence of various diseases increases, the demand for all types of medical devices will also grow. Medical gases and equipment are important elements in medical centers, life sciences sector, laboratories, and long-term care; they are used for treatment as well as diagnosis of several diseases.

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According to a study conducted by the P&S Intelligence, the global medical gases and equipment market is expected to attain a value of $21.6 billion, advancing at a CAGR of 8.0%, in the coming years. The primary applications of medical gases and equipment include diagnostics, pharmaceutical manufacturing & research, and therapeutics. During 2012–2015, the largest demand for medical gases and equipment was created by therapeutic applications. Medical gases are used for various therapeutic purposes including treatment of cardiovascular and respiratory diseases, acute hypoxia, pain, resuscitation, and pulmonary arterial hypertension, cryosurgery, in neurobiology, and for anesthetization. The demand for medical gases and equipment will remain the highest for therapeutic applications in the near future due to the surging prevalence of chronic and respiratory diseases.

There are two types of medical gases, namely medical gas mixture and pure medical gas. During 2012–2015, the requirement for pure medial gas was higher. This gas comprises nitrogen, oxygen, carbon dioxide, helium, nitrous oxide, medical air, argon, xenon, and carbon monoxide. Types of medical gas equipment include oxygen concentrator, medical gas equipment accessories, and gas delivery system. Out of these, medical gas equipment accessories are expected to be demanded the most in the coming years. Medical gas equipment accessories are further divided into flow meters, regulators, vacuum systems, hoses, masks, outlets, manifolds, alarm systems, and others (which include pressure switches, fittings, ball valves, check valves, and conversion kits).

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Report Coverage

·         Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis

·         Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market

·         Uncovers potential demands in the medical gases and equipment market

·         Porter analysis identifies competitive forces within the medical gases and equipment market

·         Provides information on the historical and current market size and the future potential of the market

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How are Rising COVID-19 Cases Driving Anesthesia Ventilator Market?

A major health crisis that is being faced by the healthcare industry, and the whole world really, is the rapidly increasing cases of the novel COVID-19. As per the Worldometer statistics, the number of COVID-19 cases increased to 81,171 in China, 69,176 in Italy, 54,881 in the U.S., 1,193 in Japan, and 536 in India, as of 24th March 2020. These number have now increased considerably and are creating increasing demand for medical equipment for catering to the needs of surging number of patients all across the globe. Ascribed to this, the demand for anesthesia ventilators is growing rapidly.

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A ventilator supports breathing of a patient under emergency and is utilized for efficiently managing the exchange of gases, including getting oxygen to lungs and aiding carbon dioxide to be released. Anesthesia ventilators are an important part of all contemporary anesthesia workstations. Automatic ventilators that are utilized in operating rooms have now become sophisticated due to the integration of various innovative ventilation modes. Attributed to the above mentioned factors, the global anesthesia ventilator market is projected to witness substantial growth in the near future. When mobility is considered, anesthesia ventilators are of three types, namely neonatal, intensive care, and portable ventilators. 

Some of the major components of anesthesia ventilators are filters, sensors, alarms, pressure regulators, and compressible air reservoirs. Among all these, the demand for compressible air reservoirs is expected to increase significantly in the years to come, which is primarily because of the fact that these components aid in the continuous exchange of gases. Major end users of anesthesia ventilators are hospitals, ambulatory care centers, and pre-hospital settings and emergency medical services. Out of these, hospital are predicted to create the largest demand for anesthesia ventilators in the coming years. 

This can be attributed to the surging patient pool in these healthcare settings, enhanced healthcare facilities, and growing adoption of technological advanced products. Geographically, North America created the largest demand for anesthesia ventilators in the past, which is owing to the increasing healthcare expenditure, technological advancements, rising geriatric population, and surging burden of chronic respiratory illnesses. Other than this, the demand for these medical devices is also projected to rise significantly in Asia-Pacific, thereby making the region the fastest-growing anesthesia ventilator market. This is because of the high pollution levels and surging number of COVID-19 cases in the region.

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This Study Covers

·         Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis

·         Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the anesthesia ventilator market

·         Uncovers potential demands in the anesthesia ventilator market

·         Porter analysis identifies competitive forces within the market

·         Provides information on the historical and current market size and the future potential of the market

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What are Major Factors Responsible for Expansion in Global Nerve Repair and Regeneration Market?

 The surging prevalence of neurological diseases such as fecal incontinence, depression, epilepsy, Alzheimer’s, and Parkin-son’s is one of the major factors responsible for the soaring uti-lization of nerve repair and regeneration devices throughout the globe. As per the Alzheimer’s Association, in 2015, almost 5.3 million people in the age group of 65 and above in the U.S. were found to suffer from Alzheimer’s disease and this number is predicted to rise to 7.1 million by 2025. As per the Parkin-son’s Disease Foundation (PDF), nearly 7—10 million people are suffering from Parkinson’s Disease across the world.

The other major factor contributing toward the increasing sales of neuromodulation and neurostimulation devices is the in-creasing incidence of chronic pain in people all around the world. As per the American Academy of Pain Medicine publica-tion, almost 100 million people in the U.S. suffer from some kind of chronic pain. Additionally, according to the Internation-al Association for the Study of Pain (IASP), which is a non-profit organization focussing on research on pain and patient care improvement, almost 2.8% of the total diabetic population in the world were found to suffer from peripheral neuropathic pain (PNP) in 2000. 

Due to the above-mentioned factors, the global nerve repair and regeneration market is expected to register tremendous growth over the next several years. The most widely used nerve regeneration and repair devices in healthcare settings all over the world are neuromodulation and neurostimulation de-vices (internal neurostimulation and external neurostimulation devices) and biomaterials (nerve protectors, nerve wraps, nerve connectors, and nerve conduits). Of these two products, the neurostimulation and neuromodulation devices recorded huge sales over the last few years.

Globally, North America registered the highest sales of nerve regeneration and repair devices in the last few years. In North America, the U.S. observed the highest utilization of these de-vices during the past few years, mainly because of the rising prevalence of peripheral nerve injuries and the existence of technologically innovative products and their huge adoption in various healthcare procedures in the region. However, the nerve repair and regeneration market is expected to regis-ter major growth in Asia-Pacific (APAC) in the upcoming years. 

Therefore, it can be said with full confidence that the demand for nerve repair and regeneration devices will surge across the world in the coming years, primarily due to the increasing inci-dence of chronic pain and neurological diseases all over the world.

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Wearable Injectors Market Witnessing Growth because of Need for Advanced Drug Delivery

 The geriatric population around the world is growing at a swift pace; as per the World Health Organization (WHO), the number of people aged 65 years or above across the globe is projected to double from 703 million to 1.5 billion between 2019 and 2050. The WHO has also stated that the rate at which the aging population is growing has quickened in the past few years. Since the aging population is more susceptible to several chronic diseases, it often needs medical intervention. One such device, which is used for medical intervention, is a wearable injector.

Wearable injectors are devices which deliver a large volume of drugs over an extended period of time. These delivery systems administer large subcutaneous (through the skin) drug doses to patients, even if the patient is ambulatory. Additionally, the patient is fully capable of carrying out normal daily activities during the delivery of the drug. As per a P&S Intelligence report, the global wearable injectors market is predicted to grow at a considerable pace in the coming years. There are three types of wearable injectors, namely bolus injector, body-worn patch injector, and off-body worn belt injector. Out of these, the demand for bolus injectors is expected to grow at the fastest pace in the near future.

When the geographical scenario is taken into consideration, North America has been the most productive wearable injectors market in the past. The reasons for this are the surging prevalence of chronic and lifestyle-associated diseases, growing requirement for self-injection and advanced drug delivery systems in the region. With the focus increasing focusing on reducing patients’ stay at the hospital and decreasing the healthcare cost, manufacturers are engaging in developing advanced drug delivery devices. Among these, wearable injectors have emerged as one of the most suitable solutions for people suffering from chronic diseases and aged people.

Therefore, with an increasing number of people contracting various diseases and the demand for constant and regulated drug delivery increasing, the usage of wearable injectors would also rise.

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How is Rising Incidence of Diabetes Propelling Progress of Global Lancet Market?

 The rising prevalence of chronic diseases is one of the major factors propelling the demand for lancets across the world. There has been a huge increase in the occurrence rate of chronic obstructive pulmonary disease (COPD), diabetes, cardiovascular diseases (CVDs), and cancer across the globe over the last few years and this has considerably boosted the need for minimally invasive blood-drawing medical devices such as lancets. According to the World Health Organization (WHO), more than 235 million people around the world are suffering from asthma and 3 million deaths are caused each year, due to COPD.

The increasing prevalence of infections and injuries due to the use of needle sticks is another important factor fuelling the rise in the demand for lancets across the globe. Due to these factors, the global lancet market generated revenue of $830.3 million in 2019 and is expected to exhibit a CAGR of 9.5% during the forecast period (2020–2030). Lancets are being widely adopted in diagnostic centers, hospitals and clinics, and homecare settings throughout the world. Amongst these, the hospitals and clinics are predicted to observe the highest growth in the adoption of lancets during the forecast period.

The major trend currently being observed in the lancet market is the increasing usage of lancets in homecare settings all around the world. Due to this factor, there has been a huge rise in the development of lancets suitable for home use as the lancets used in the various medical facilities like clinics and hospitals cannot be used by untrained people. As a result, many major lancet manufacturing companies are developing simple point-of-care-testing (POCT) lancets that can be used for monitoring the blood glucose level.

Thus, it can be concluded that due to the rising incidence of chronic diseases especially diabetes and the ballooning popularity of minimally invasive blood drawing medical devices, the demand for lancets will rise significantly across the world, over the next few years.

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What are Top Three Factors Responsible for Soaring Sales of Wound Care Devices?

One of the major factors fuelling the demand for wound care solutions is the increasing prevalence of burn cases across the globe. Burns caused because of various factors such as electricity, radiation, friction, chemicals, and heat often lead to loss of skink, blood vessels, and tissue. “As per a report published by the National Fire Protection Association (NFPA), the total number of fire-related wounds and injuries in the U.S. in 2014 was 15,775”.

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“The other important factor responsible for the soaring sales of wound care products is the surging incidence of road throughout the world”. “According to a report produced by the World Health Organization (WHO) in 2016, 20—50 million people all over the world suffer from various types of non-fatal wounds and injuries because of road accidents every year”. The wounds caused due to car crashes are exposed to microbes, soil, debris, and dust. Moreover, the tissue loss caused in road injuries takes a lot of time to heal, which, in turn, increases the requirement of wound-care devices. 

“The growing geriatric population levels and rising incidence of surgeries in several countries are the other major factors fuelling the demand for wound care products around the world”.  The incisions made in the body during surgical procedures cause wounds, which in turn, creates the requirement of wound care products. Additionally, these products are used after surgeries for reducing the recovery times and preventing infections. Because of these reasons, the global wound care market will demonstrate unprecedented growth in the coming years, as per the estimates of P&S Intelligence, a market research firm based in India.

Globally, the “North American wound care market is predicted to be very lucrative in the forthcoming years”. The main factors driving the sales of these devices in the region are the soaring geriatric population, increasing incidence of road accidents and burn cases, and the presence of a large number of people suffering from diabetes. However, despite these factors, “the Asia-Pacific (APAC) region will observe the fastest growth in the usage of these devices in the upcoming years”.

Therefore, it can be said with conviction that the sales of wound care products will shoot-up across the world in the years ahead, primarily because of the increasing prevalence of road accidents and burn cases, rising number of surgical procedures, surging occurrence of chronic diseases, and soaring geriatric population around the world.

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Which Country is Expected to Witness Fastest Healthcare Industry Growth?

Along with food and housing, good health is one of the most critical aspects of a happy life. With the rapid surge in population, the prevalence of various diseases has also increased, which, in turn, has raised the demand for healthcare services around the globe. As a result, the healthcare industry is one of the most prosperous ones, especially in present times, when the COVID-19 pandemic is raging on. Currently, the industry in Germany, the U.S., France, the U.K., Japan, China, and Singapore is growing the fastest, as these are some of the worst-affected nations by the coronavirus infection and also because the healthcare  spending here is among the highest anywhere.

In 2019, the medical sector of the U.S. was projected to reach $5,605.5 billion by 2024, but the future size might actually be a lot larger. Even in the coming years, the medical domain in this country is expected to grow the fastest, primarily due to the high prevalence of chronic diseases. One in every six persons in the U.S. has at least one chronic disease, as per the Centers for Disease Control and Prevention (CDC). In the coming years, the prevalence of cancer, in particular, is expected to surge sharply here, which would lead to a high footfall at hospitals and diagnostic centers.

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For a better understanding of the worldwide healthcare ecosystem, it can be segregated in several ways. For instance, if disease is considered, the entire industry could be broken down into cancer, cardiovascular and circulatory diseases, neuropsychiatric disorders, chronic respiratory diseases (CRD), diabetes, blood, and endocrine disorders, chronic liver diseases, and musculoskeletal disorders. Due to their death toll being the highest, around 17.9 million annually, as per the World Health Organization, the treatment of cardiovascular and circulatory diseases contributes the most to the healthcare sector around the world, including Germany.

Similarly, the healthcare industry could also be seen in terms of the imaging equipment used, since they are essential to diagnosing diseases and tracking the effect of treatment. Ultrasound devices, X-ray machines, computed tomography (CT) scanners, magnetic resonance imaging (MRI) systems, endoscopes, and mammography equipment are widely used at hospitals and diagnostic centers around the world. In Singapore’s case, specifically, X-ray machines are the most widely procured medical imaging equipment; by 2024, the country’s healthcare settings are cumulatively expected to have 7,000 X-ray machines.

Thus, as the burden of diseases increases around the world, the need for healthcare will become even dire.

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COVID-19 Impact Analysis on Blood Screening Industry. Insights on Strategies of Key Players

The prevalence of various diseases across the globe is rising on a rapid pace. While some mild infections or diseases can be treated by taking proper medication, severe cases often create need for operations and surgeries. Such cases, among many serious cases including injuries, sometimes require blood transfusion. The awareness regarding blood donation has risen considerably, which is why numerous people donate blood, at times, regularly. It is now news that blood transfusion is a serious matter and medical professionals need to take utmost care before and during carrying of such a procedure.

Prior to the donation, blood donors are asked a set of questions for determining whether or not they are in a position to donate blood, as the blood needs to free of any kind of disease that can be transmitted during the transfusion. If the donor is eligible for donating, the donated blood is then tested for Rh type and blood type. All of the donated blood for transfusion is also tested for evidence of some specified infectious diseases, such as hepatitis C and B and human immunodeficiency virus. This is referred to as the blood screening process.

Owing to the surging prevalence of diseases, the blood screening market generated a revenue of $2,402.3 million in 2019, and it is projected to advance at an 8.1% CAGR during the forecast period (2020–2030). Different types of products that are utilized during the blood screening process are software and services, reagents and kits, and instruments. Out of these, the largest demand in the years to come is expected to be created for reagents and kits, as these products are utilized during the very first stage of the blood screening process. These products are used extensively for effective and quick detection of transfusion-transmissible diseases. 

Geographically, North America emerged as the largest blood screening market in 2019, which is attributed to the surging incidence of infectious and respiratory diseases in the region. For example, the region has accounted for the largest number of COVID-19 cases and deaths, i.e. 560,000and 22,000, respectively, as of April 13th 2020. Other than this, the demand for blood screening is also predicted to rise considerable in the Asia-Pacific region in the near future. This is due to the presence of major players, rising incidence of cancer and other chronic diseases, and cost-effective labor.

Read more: https://www.psmarketresearch.com/market-analysis/blood-screening-market

This study covers

·         Historical and the present size of the blood screening market

·         Major factors driving the market and their impact during the short, medium, and long terms

·         Market restraints and their impact during the short, medium, and long terms

·         Recent trends and evolving opportunities for the market participants

·         Historical and the present size of the market segments and understand their comparative future potential

·         Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

·         Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders

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Global Healthcare IT Integration Market Expected to Exhibit Rapid Progress in Future

 The burgeoning need for reducing the overall healthcare costs is one of the major factors responsible for the incorporation of information technology (IT) solutions in the healthcare industry across the world. In many countries around the world, there has been a huge rise in the integration of various IT applications such as internet of things (IoT) in healthcare applications over the last few years in order to mitigate the healthcare costs. In addition to this, the governments in several countries are taking numerous initiatives for promoting the adoption of IT solutions in the healthcare industry.

The exchange of patient information and clinical data amongst the hospitals and their various partners helps in formulating solutions for complex interoperability problems and thus promotes the adoption of IT solutions in the healthcare industry. The increasing demand for incorporating IT in the healthcare applications is another important factor pushing the adoption of IT solutions in healthcare operations. Due to these factors, the global healthcare IT integration market is expected to demonstrate substantial growth during the forecast period (2020—2030).

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Geographically, the North America registered the highest adoption of IT solutions in the healthcare industry in the past, due to the presence of favorable reimbursement policies aimed at reducing the healthcare costs in the region, improving healthcare facilities, huge demand for adopting IT in the healthcare system, and the presence of a large geriatric population and a technologically advanced healthcare ecosystem in the region. However, the healthcare IT integration market is expected to grow the fastest in the Asia-Pacific (APAC) region in the years to come. 

Hence, it can be said with full confidence that the incorporation of IT solutions will increase considerably in the healthcare industry in the forthcoming years, on account of the rising need for reducing the healthcare costs, increasing demand for advanced systems and facilities in the healthcare industry, and presence of supportive government measures for the integration of IT in the healthcare applications throughout the world.

Source: P&S Intelligence

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How will Rising Healthcare Expenditure Fuel Boom of Laboratory Filtration Industry in Asia-Pacific in Future?

One of the major factors propelling the demand for laboratory filtration technology across the world is the soaring utilization of laboratory filtration products in the food and beverage industry. Membrane filtration processes are bring increasingly incorporated in the food and beverage industry owing to their extremely high efficiency in clarification, fractionation, concentration, and purification methods. Due to the incorporation of these highly effective methods, the quality of the food items increases drastically.

The other major factor fuelling the growing demand for laboratory filtration techniques is the development of cost-effective, highly efficient, and technologically advanced filtration products. For instance, the membrane filters help in retaining particulate matter on the smooth membrane surfaces. In addition to this, the numerous types of syringe filters offered by Sartorius AG such as the Minisart syringes are used for removing particulate matter and microorganisms from gases, liquids, and air.

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Driven by the above-mentioned factors, the global laboratory filtration market, which generated revenue of $2.3 billion in 2017, is further expected to attain valuation of $3.5 billion by 2023. The market is also predicted to progress at a CAGR of 7.3% during the forecast period (2018–2023). Most of the filtration activities in laboratories are accomplished via a membrane that utilizes a physical barrier such as a filter or a membrane for separating the unwanted particles from a fluid.

Geographically, Asia-Pacific (APAC) is anticipated to record the fastest growth in the adoption of laboratory filtration technologies during the forecast period, owing to the rising incidence of chronic diseases, soaring production of pharmaceutical products, and improving healthcare infrastructure in the region. As per the World Bank, the total healthcare spending in South Asia in 2000 was recorded to be 3.9% of the region’s total gross domestic product (GDP) and this share increased to 4.4% by 2014. This is trend is expected to continue in future, thereby fuelling the growth of the laboratory filtration market in the region in future.

Therefore, it can be said without any hesitation that due to the increasing requirement of advanced filtration methods, products, and technologies in a plethora of industries such as food and beverage and pharmaceuticals and the surging healthcare expenditure in several countries, the demand for laboratory filtration technologies will observe tremendous growth in the coming years.

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