Global Demand for Esoteric Testing in Healthcare

Esoteric Testing Overview

The global esoteric testing market is projected to be USD 56,643 million by 2030 growing at a CAGR of 11.70% during the forecast period. This growth can be ascribed to the growing occurrence of chronic, communicable, and rare hereditary illnesses, and also snowballing the elderly populace.

Furthermore, the elevation of sophisticated technologies, encompassing gene sequencing and gene mass, empowers assured analyses, addressing unmet diagnostic needs with assurance. Additionally, the upswing in the number of tests administered per patient is propelling the progression of the worldwide industry.

On a global scale, the prevalence of chronic conditions, including cancer, diabetes, and heart disease, is progressively widespread. Similarly, the incidence of infectious diseases is escalating at an alarming pace, notably tuberculosis, dengue, HIV, hepatitis B, C, and malaria.

In the recent years, North America had the largest market share, approximately 36%, and the continent is also projected to grow at a strong compound annual growth rate, in the future as well, mainly because of the high disposable income and healthcare spending, the massive populace of the aging and chronic illness patients, and the existence of key businesses in the continent.

Also, Canada is witnessing substantial development in this industry because of its improving healthcare infrastructure, increasing count of government initiatives for making diagnostic facilities available and inexpensive, rising need for ELISA and RT-PCR tests, and the existence of major players offering the related assay kits, reagents, and testing equipment.

Furthermore, the surge in the count of diagnostic tests and technological improvements in esoteric tests are the other main reason supporting the development of the market in the continent.

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The U.S. and European Union Osteoporosis Drugs Market Is Driven by Increasing Prevalence of Osteoporosis

The U.S. and European Union osteoporosis drugs market is experiencing growth, and this development can be credited to the growing occurrence rate of osteoporosis illnesses, the rising elderly populace, the rising cases of overweightness, the increasing occurrence of lifestyle-related illnesses, and the rising healthcare expenditure in the U.S. and the EU.

In 2022, the U.S. osteoporosis drugs industry size was valued at USD 6,210.4 million, and the market is projected to surge to USD 9,105.2 million by 2030, growing at a CAGR of 4.90% during the projection period. This is mainly because of the existence of a huge count of market giants, improved healthcare infrastructure, huge expenditure by the government in the healthcare industry, and augmented awareness regarding the illness in the nation.

In 2022, the European Union osteoporosis drugs industry size was valued at USD 2,965.4 million, and this count is additionally projected to surge to USD 4,265.4 million by 2030, growing at a CAGR of 4.65% during the projection period. This is credited to the rising elderly populace, altering lifestyles, fast urbanization, and growing knowledge regarding osteoporosis care in the region.

On the basis of type, the bisphosphonates category dominated the market with the largest revenue share, and it is additionally projected to endure its supremacy in the future as well. This is mainly because bisphosphonates have confirmed effectiveness in reducing fracture danger at the spine, hip, and other non-vertebral emaciated sites, surge the existence rate, and reduce the substantial danger of morbidity.

Furthermore, the rising number of females in the post-menopausal stage and a rise in the occurrence of bone illnesses will further contribute to the requirement for these medications.

According to World Health Organisation data, due to the increased prevalence of diseases and a growing number of government initiatives both public and private, health expenditure is on the rise around the world. As a result, the health infrastructure improves, and access to care and diagnosis is becoming more accessible for different diseases.

On the basis of application, the primary osteoporosis category accounts for a larger income share and it will also witness quicker development during the projection period. This is mainly because the mainstream cases that happened are of the primary type, which impacts females after menopause as a result of an unexpected decrease in estrogen production; the loss of bone structure because of the lack of testosterone in males; and the rising elderly populace in the U.S. and the EU.

Osteoporosis results in decreased bone mass and significant loss of bone which increases fracture risk. It impacts individuals of both sexes and all races/ethnicities. For example, in the U.S. alone, there are about 2 million osteoporosis-linked fractures, and the price associated with osteoporosis each year is approximately USD 19 billion. 

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Europe Is Dominating Healthcare Smart Card Reader Industry

The total value of the global healthcare smart card reader market was USD 953 million in 2022, and it will rise at a growth rate of above 13.60%, reaching USD 2,642 million by 2030. This growth can be credited to the increasing pace of digitization, the rising count of patients, and their mounting medicinal records. As smart cards permit an individual access to the system, they need enhanced and extremely secure readers.

Infirmaries are offering personal health cards, which keep all the data regarding a patient, such as reimbursement, insurance, and overall health records. Smart healthcare cards also keep data about the aids covered under the Health Insurance Portability and Accountability Act (HIPAA), which additionally makes agreement with the HIPAA Privacy Rule simpler. Among the numerous necessities, the major target of the HIPAA Privacy Rule is guaranteeing that individuals’ health-associated information is protected and that they can regulate how it is retrieved and utilized.

Smart card readers are obtainable with numerous interfaces. Contact-based cards need the physical insertion of the card into the device, while contactless ones need no bodily contact with the device. Therefore, on the basis of interface type, the contactless category had the largest healthcare smart card reader market share, of more than 27%, in 2022.

Such variants use radiofrequency documentation or near-field communication technology to form a wireless connection between the reader and the card. The reader processes the data confined in the card with an easy tap and permits access to the system according to the authorization level of the user.

The healthcare industry is widely accepting smart cards for steadily storing and accessing patient individuality identifications, like laboratory, treatment information, photographs, and imaging results. Infirmaries also use these cards to access data associated with expenditures and for aid while processing payments.

Moreover, this method allows cashless transactions at clinics and hospitals and diminishes the need for carrying loads of cash around. Furthermore, smart cards advance the privacy and safety of patient data, along with permitting safe access to hospitals.

The majority of European nations have already executed the smart card system in their healthcare industries, while others are aggressively working on it; therefore, the continent had approximately 32% share in 2022. The requirement for these devices is propelled by the increasing efforts of European governments and private industry to provide the best imaginable care. For example, the NETC@RDS project, an initiative of the EU government, targets to allow healthcare access for European countries.

Hence, the increasing pace of digitization, the rising count of patients, and their mounting medicinal records are the major factors contributing to the growth of the healthcare smart card reader market.

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Biologics Safety Testing Industry Will Propel at a 12.7% CAGR

The biologics safety testing market was USD 3,589.5 million in 2022, and it will touch USD 9,370.3 million, with a 12.7% CAGR, by 2030.

The growth is because of the surging incidences of illnesses, growing requirements for biosimilar & biologic drugs, rising funding in research & development, and increasing outsourcing activities.

The vaccines category, based on application, led the industry in 2022, with approximately 30% share. This can be mainly because of the surging occurrence of different ailments over the years.

Moreover, various chronic diseases like cancer and diabetes; as well as infectious illnesses such as measles and influenza; need the administration of vaccines for their management, prevention, or treatment.

The cellular & gene therapy category, on the other hand, will propel at approximately 12% compound annual growth rate, in the coming years. This will be primarily because of the increasing research, along with the improvements in cellular & gene therapies.

North America is the largest contributor to the industry. This will be because of the substantial existence of major companies, the high incidence of serious non-contagious and infectious illnesses like diabetes and coronavirus, respectively; and the developed healthcare infrastructure.

APAC is likely to advance at the fastest compound annual growth rate, of 15%, in the years to come. This is because of the rising incidence of serious illnesses, the large patient pools, and strong government policies backing R&D initiatives in this region. 

With the surge in the need for biosimilar as well as biologic medications, the biologics safety testing industry will continue to progress in the coming years.

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Implantable Loop Recorders Industry to Witness Fastest Growth in Asia-Pacific

The implantable loop recorders market was USD 1,341.2 million in 2022, which will touch USD 2,490.4 million, growing at an 8.0% compound annual growth rate, by 2030. 

The growth of this industry is because of the rising incidence of heart ailments, the increasing healthcare expenses, and the mounting elderly populace. Moreover, the industry is also driven by the increasing governments’ backing for greater healthcare infrastructure and the development of new clinical research fields.

Furthermore, the increasing changes in lifestyle, the growing trend of eating junk food, and the lack of a nutritional diet, are the key factors boosting the occurrence of chronic health conditions in both older and younger people. In addition, these bad health lifestyles are the origin of the rising prevalence of CVDs as well as various other chronic illnesses.

Additionally, the increasing cases of death from chronic cardiac illnesses have resulted in the surging acceptance of implantable loop recorders for greater treatment as well as information on existing cardiovascular patients.

The cardiac arrhythmia category, based on indication, will propel at a considerable rate during this decade. This can be because of the increasing CVD occurrence, the rising cases of Atrial fibrillation, and the growing acceptance of remote patient monitoring devices.

The direct category, on the basis of distribution channel, was the larger contributor to the implantable loop recorders market, with a 90% share, in 2033. This can be because of the growing count of CVD patients in both developing and developed countries, the rising count of cardiac implantable electronic device procedures, and the surging count of hospital visits for diagnosis.

In 2022, North America was the highest contributor to the industry, with a 40% share, and it will further advance at a 7% CAGR, during this decade. This can be because of the existence of healthcare facilities & infrastructure, the increasing healthcare spending, the surging requirement for remote patient monitoring devices, and the mounting CVD occurrences.

It is because of the improving living standards, growing consciousness of healthcare procedures and devices, and surging count of deaths from cardiovascular diseases across the globe, the implantable loop recorders industry will continue to progress in the coming years.  

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Pharmaceutical Sterility Testing - Industry Development and Forecast Report, 2030

In 2023, the global pharmaceutical sterility testing market revenue is estimated to rise to USD 1,769.0 million and grow at an 11.5% compound annual growth rate between 2024 and 2030, reaching a value of USD 3,763.0 million by 2030.

This development of the market can be credited to the enlargement of pharmaceutical and biotechnological companies, the surge in their R&D activities, the rise in the occurrence of diseases, and significant government investments in the healthcare industry.

The frequency of hematological malignancies is on the surge. As per The Leukemia & Lymphoma Society, every 3 minutes, an individual is diagnosed with lymphoma, myeloma, and leukemia in the U.S. Biopharmaceuticals, like gene, immune, and cell therapies, are quickly being accepted as an alternate treatment for hematological cancers. This is mainly because these therapeutics show high potency and efficiency against these diseases.

In 2023, the North American region dominated the market, with a revenue share of 55%. This can be credited to the existence of key pharmaceutical and bio-pharmaceutical companies, growing R&D activities in the biotechnology and pharmaceutical industries, an increasing number of product introductions, the high occurrence of chronic illnesses, and helpful government rules for the setup of research and development facilities in the continent. 

Furthermore, the existence of strong healthcare guidelines, strict drug approval needs, increasing public awareness of drug safety, improving acceptance of cutting-edge tech, and the launch of gene and cell therapies for the cure of various hematologic malignancies are causing the enlargement of the regional industry.

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Bioanalytical Testing Services Industry was Led by the Small Molecule Category

In 2023, the worldwide market for bioanalytical testing services amassed a revenue of USD 3,456.6 million. Forecasts indicate a substantial compound annual growth rate (CAGR) of 15.9% from 2024 to 2030, with the market expected to reach USD 9,652.6 million by 2030.

This growth of the industry can be attributed to the well-known life sciences sector using bioanalytical testing, the existence of major service providers, the augmented count of continuing clinical trials, high research and development investment, and the development of biosimilar and generic industries. Moreover, the growth of biopharmaceutical and pharmaceutical companies outsourcing preclinical, clinical, and laboratory testing services is another reason propelling the industry's growth.

A huge count of biopharmaceutical establishments are outsourcing bioanalytical testing rather than utilizing in-house testing for the growth of medications and the authentication of numerous assays at both the preclinical and clinical levels. This is mainly because such companies are trying to be more effective in the procedure of medication growth by focusing on their core abilities to launch new items to the industry, with ideal staffing and in a more effective and lucrative manner.

In 2023, North America dominated the bioanalytical testing services market, holding approximately 45% of the total share, and anticipates robust growth with a strong Compound Annual Growth Rate (CAGR) in the coming years. This is primarily due to the high prevalence of chronic diseases, increased adoption of large molecule therapeutics and peptides, substantial expansion in the pharmaceutical and biotechnical sectors, and the presence of key bioanalytical service providers in the region.

The U.S. dominates the North American industry, because of the existence of progressive healthcare infrastructure, a huge count of pharmaceutical manufacturing services, and key contract research establishments and service providers of bioanalytical testing, in the nation.

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Breast Lesion Localization - Industry Development and Future Analysis

In 2023, the worldwide market for breast lesion localization was assessed at USD 410.4 million. Projections indicate a growth to USD 653.1 million by 2030, with a compound annual growth rate (CAGR) of 7.0% expected between 2024 and 2030.

This growth of the market can be credited to the increasing breast cancer screening programs and better repayment situations. Furthermore, breast cancer is quite common illness in women and its occurrence is increasing quickly. For example, as per the data issued by the International Agency for Research on Cancer (IARC), breast cancer has now exceeded lung cancer as the most regularly identified cancer globally.

The acceptance of breast lesion localization devices will surge in the coming few years, because of the increasing occurrence of mammary cancer. The lymph nodes underneath the arms are the most typical first recognizable site of breast cancer spread; however, there are few lesions in these nodes that cannot be felt by touch. Furthermore, the malignancy might also spread to other parts of the body.

On the basis of biopsy technique, the CNB category had the largest industry share, of 35%, in 2023. This is mainly credited to its accurateness in the analysis of benign lesions and its ablity to discriminate between in-situ lesions and invasive cancer. Furthermore, CNB is certainly more dependable than fine needle aspiration since it gets a larger tissue sample and offers some architectural information.

On a global scale, North America holds the predominant market share, primarily attributed to the presence of a robust healthcare infrastructure, significant manufacturing entities, heightened awareness regarding early breast cancer detection, streamlined FDA approval procedures, and widespread adoption of advanced medical devices in cancer treatment facilities within the region.

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North America Is Dominating Negative-Pressure Wound Therapy (NPWT) Devices Industry

The global negative-pressure wound therapy devices market is witnessing growth and projected to reach USD 4,698.4 million by 2030.

This development of the market can be credited to the rising incidence of burns, growing occurrence of diabetes, rising elderly populace, and high rate of C-section operations leading to the growing post-operative utilization of NPWT devices.

On the basis of types of wounds, Chronic Wounds are expected to grow at a faster rate over the next few years. The increase in the occurrence of diseases, such as Peripheral Artic occlusive Diseases, Chronic Venous Deficiencies and Diabetes Mellitus are largely attributable to this. As aging individuals are more disposed to these medicinal circumstances, they create a significant demand for wound care items.

In the past few years, the conventional category led the industry, and the category is also estimated to be dominant throughout the forecast period, on the basis of product. This can be credited to the extensive suitability of such devices, particularly in emerging nations with a huge population, like China and India.

In the sector of NPWT devices, healthcare and hospitals appear to be the highest revenue generating end users. This is large because of the superior footfall of patients and the growing availability of hospitals to individuals of all income levels.

The growing incidence of burns is a main reason for boosting the development of the market for NPWT devices internationally. As per the statistics issued by the World Health Organization in 2018, a projected 180,000 demises because of burns were stated each year, the majority in low- and middle-income nations.

Hence, the growing incidence of burns, growing occurrence of diabetes, rising elderly populace, and high rate of C-section operations are the major factors contributing to the growth of the negative-pressure wound therapy (NPWT) devices industry.

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Hong Kong Wound Dressing Market Is Driven by Growing Aging Population

The Hong Kong wound dressing market is witnessing growth and is projected to reach USD 70.6 million by 2030. This growth of the market can be credited to the thriving elderly populace, the growing occurrence of diabetes, and the high occurrence of traumatic wounds.

In recent years, the advanced products category had a larger share in the Hong Kong wound dressing industry, on the basis of type. This can be credited to the fact that such items ease appropriate oxygen flow, uphold a steady temp around the wound, offer safety from contagions, eliminate dead tissues, permit new cells to develop, and release pain during dressing change.

During the projection period, the chronic wounds category is projected to be the quicker-rising category in the industry for wound dressing in the city, on the basis of application. This will primarily be because of the high occurrence of diabetes mellitus, which commonly primes to diabetic foot ulcers, a kind of chronic wound.

Hospitals and specialty clinics have developed as the highest-income-generating, and also the fastest increasing category, among all the end users in the Hong Kong wound dressing market, credited to the better footfall of patients and growing convenience of such places to individuals with changing incomes.

During the historical period, the pharmacy category accounted for the largest share of the market for wound dressing in the megacity and is expected to maintain its position during the forecast period on the basis of distribution channels. This can be due to the fact that a greater variety of dressings is easily available at pharmacies.

In Hong Kong, a move has been witnessed in customer fondness from old-style wound dressing items to improved items, which would direct to substantial development of the wound dressing industry in the nation.

Advanced wound dressings, like hydrocolloid dressings and hydrogel dressings, quicken healing and also offer ideal ease and fast recovery. For instance, Coloplast A/S’s Biatain Alginate is a very spongy alginate dressing for moderate-to-heavy-exuding injuries. 

Likewise, ConvaTec Group PLC’s AQUACEL Ag Foam is a silver foam dressing that provides fast and effective antimicrobial action.

The growing elderly populace is playing a vital role in the development of the industry of wound dressing in Hong Kong. As per the Chinese University of Hong Kong, the percentage of elderly 65 years and older was 11.7% of Hong Kong’s total populace in 2003, which is estimated to touch 27% by 2033. As the aging are more disposed to medicinal conditions credited to their physical and immunological weakness, they produce a substantial demand for wound dressing items.

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Particulate Matter Monitoring Market is Powered by the Increasing Air Pollution

The total size of the particulate matter monitoring market is about USD 1,434.5 million in 2023, and it will power at a rate of 11% by the end of this decade, to touch USD 2,969.3 million by 2030. The evolution has a lot to do with the growing air pollution and mounting consciousness amongst people concerning the advantages of good air quality.

Moreover, the strict government guidelines to decrease emissions in view of the speedy urbanization and industrialization will power the growth of the industry.

Based on the end use, power generation led the industry with a share of 30%. Throughout the electricity generation, large quantities of pollutants are produced into the atmosphere. The waste produced from municipalities and industrial sectors, biomass, and fossil fuels, as well as petroleum, coal, and natural gas, are used for about 60% of the power generated at a global level.

North America is the leader of the industry, and it will hold the same position by the end of this decade, with a value of USD 1.4 billion. The evolution has a lot to do with the growing level of level of environmental contaminants and the strict regulations to tackle this problem.

the U.S. has the major share in North America, and it will power at a rate of 11.3% by the end of this decade. This is because of the existence of key players and the increasing awareness of people regarding safe air. Moreover, the rising pace of tech progressions in these systems is helping in the revenue generation.

The rising air pollution all over the world has a lot to do with the growing requirement for particulate matter monitoring solutions. This trend will continue in the years to come as well.

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Increasing Food Quality & Safety Worries Boosts Analytical Standards Market

The analytical standards market was USD 1,618.9 million in 2023, which will increase to USD 2,588.1 million, powering at a 7.0% compound annual growth rate, by 2030.

This progression is because of the increasing application of the related products in biotechnology, pharmaceutical, food quality & safety assurance, forensics, environmental analysis, and various other areas.

Furthermore, their increasing use in the clinical study of complete metabolites and proteins in an organism or a cell, with the surging worry to monitor or control pollution, boosts this growth.

Moreover, the growing worry about product expiry analysis and food quality & safety, owing to the strict government guidelines in this regard, is boosting the acceptance of analytical standards.

In 2023, the environmental science category, based on application, accounted for a 20% share, and it will continue this trend during this decade. This can be because of the increasing worries owing to the rising pollutants emissions and growing efforts for an effective waste processing and clean environment.

North America led the industry, and it will remain leading, advancing at a 7.2% CAGR, till 2030. This is because of the high R&D spending by pharmaceutical firms and the existence of most global manufacturers and regulatory bodies, who have laid down stringent quality standards to fulfill by pharmaceutical businesses.

Furthermore, the advancing biotechnology sector and consequently rising application of analytical standards and technologies also assist this regional growth.

In addition, the existence of key manufacturers has resulted in the high sale of standards or reference compounds to the chemical and pharmaceutical sectors in this continent.

It is because of the growing concerns regarding the safety as well as the quality of food, the analytical standards industry will advance continuously in the coming years.

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