Thus, with the increasing incidence of burn injuries, the skin replacement and substitutes market, which valued $838.0 million in 2018, is predicted to grow to $1,202.2 million by 2024, at a CAGR of 6.3% during 2019–2024 (forecast period). The usage of such products helps close and mend the wound as well as reduce the pain, which is why they are witnessing a rising adoption around the world. There are two primary types of skin replacement and substitute products available — cellular and acellular — of which the acellular variants are more in demand, as they can be used for excised and superficial wounds, even in pediatric patients.
Similarly, the prevalence of a number of dermatological diseases is also rising, due to genetic factors, overexposure to ultraviolet (UV) rays, and several other reasons. As per the American Academy of Dermatology, one in every three people in the U.S. has consulted a dermatologist for at least one skin condition, which reflects a high demand for skin replacement and substitute products in the country. Moreover, people here are becoming more conscious about their appearance, which further pushes them to seek treatment for skin issues.
Currently, North America accounts for the highest usage of such products, on account of a large number of hospitals and other medical facilities offering treatment for wounds. Other than this, the rapid technological advancements being brought about in the healthcare sector and rising healthcare expenditure are also responsible for the high usage of such products in the region. In the coming years though, Asia-Pacific (APAC) is expected to witness the fastest skin replacement and substitutes market growth, as a result of the high number of burn cases here. India and China witness the highest number of such incidents, which is leading to the rising demand for treatment.
This study covers
• 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
• Major players operating in the market and their service offerings
The surging personal income will augment the purchasing power of people, owing to which the dermacosmetics market will showcase a CAGR of 7.3% during 2020–2030. The market was valued at $57.0 billion in 2020 and it is projected to generate $115.2 billion revenue by 2030. In contemporary years, high income is encouraging more people to spend on dermacosmetic products and treatments. The mounting public focus on physical appearance will increase the footfall of such people in hospitals and clinics, medical spas, and salons that offer skincare and haircare treatments.
Skincare products, such as cleanser, cream, gel, lotion, serum, and toner, and haircare products, such as conditioner and shampoo, are being used by people around the world to improve their physical appearance. In contemporary times, skincare products were consumed in higher volume due to the soaring public focus on acne treatment, skin whitening, spot removal, and anti-aging sign reduction. All these dermacosmetic products are available at online channels and pharmacies and retail stores.
According to P&S Intelligence, the European region has emerged as the leader of the dermacosmetics market over the last few years, owing to the surging incidence of skin disorders and rising public awareness about skincare products in the region. For instance, the British Skin Foundation estimates that nearly 60% of the people in the U.K. suffer from skin disorders at some point in their lifetime, and approximately 70% of the British populace have visible skin conditions or scars.
The other major factors boosting the demand for medication management services are the rising geriatric population, increasing healthcare expenditure, rising incidence of chronic diseases, increasing adoption of remote patient monitoring services, and the mushrooming number of initiatives being taken by the governments as well as the various private and public organizations of several countries in this niche. As a result, the global medication management market is expected to exhibit tremendous progress in the coming years.
Medication management services and systems are widely adopted by medical practitioners in various healthcare settings for electronically prescribing medications to the patients. In addition to this, the systems offer a plethora of services such as the monitoring of medicine administration and the automated dispensing of medicines, which help in the efficient regulation of the operations of the entire hospital. Medication management systems also provide appropriate calculations of medicine dosage and improve the legibility of prescriptions, which in turn enhances the efficiency of the treatment process.
A variety of such software is available, for instance clinical decision support system (CDSS), computerized physician order entry (CPOE), inventory management, automated dispensing system (ADS), and administration software. Out of these, CPOE solutions are expected to register huge demand over the next few years. The biggest trend currently being seen in the medication management market is the rising popularity of online retailing of medication aids, owing to their numerous benefits such as the ability to provide product purchasing at point of time across the globe and products at discounted prices.
Across the world, North America and Europe observed large-scale adoption of medication management systems in the last few years. Europe is also expected to register significant growth in the demand for medication management systems in the coming years . This is primarily credited to the increasing incidence of chronic diseases, booming geriatric population, and burgeoning demand for mHealth technologies in the region. In Europe, Germany is predicted to observe large-scale adoption of medication management systems over the next few years.
Therefore, it can be said with full confidence that the demand for medication management systems will increase tremendously throughout the globe in the coming years, owing to the increasing adoption of mHealth technologies, rising incidence of chronic diseases, soaring geriatric population, and rapid advancements in healthcare technologies all around the world.
Moreover, with advancements in radiotherapy, it is becoming more-effective and thus garnering stronger trust from patients and doctors alike. With time, several new, effective, and faster forms of radiation treatments have emerged, including brachytherapy, volumetric modulated arc therapy (VMAT), proton therapy, stereotactic radiosurgery (SRS), intensity-modulated radiotherapy (IMRT), stereotactic body radiation therapy (SBRT), and image-guided radiation therapy (IGRT). Due to the advent of such advanced radiotherapies, medical device manufacturers are modifying their radiation systems. For instance, Siemens AG and Varian Medical Systems Inc. have developed interfaces to integrate the latter’s Aria oncology system and Eclipse treatment planning platform with the former’s linear accelerators (LINAC) and imaging systems.
Radiation therapy already has a wide consumer base in developed countries, while the usage of this treatment is also now increasing in emerging economies. As per a study, only 20% of the global population has access to around 95% of the radiotherapy equipment. Moreover, low- and middle-income countries (LMICs) are estimated to have 5,000 fewer pieces of equipment than required, with almost 30 countries not possessing even a single radiotherapy system! Further, by 2035, over 12,000 more systems will be required to cater to the growing cancer-ridden population in LMICs.
This vast disparity in the availability of radiation treatment is one of the many reasons the largest radiotherapy market presently is North America. Other reasons for this are the presence of numerous medical device companies, rising healthcare spending, and advanced healthcare infrastructure in the region. Similarly, to meet the increasing demand for radiation procedures, medical centers in Asia-Pacific (APAC) are expected to buy such systems on war footing. For instance, in India, 400 additional radiation systems will be needed by 2035 to cut the waiting time for patients.
Hence, with the growing cancer incidence and vast unmet need for radiation oncology treatments in LMICs, the demand for radiotherapy systems will continue to rise.
The positive results of the recently conducted gene therapy clinical trials and studies are encouraging biopharmaceutical companies to focus heavily on penetrating the gene therapy market. For example, the positive results of the interim Phase I/II clinical trials, that helped determine the dose to be administered in the patients diagnosed with X-linked retinitis pigmentosa (XLRP) because of mutations in the RPGR gene, were announced by the X-Applied Genetic Technologies Corporation (AGTC) in May 2020.
Gene therapy development processes are conducted by optimizing various vectors such as lentiviruses and retroviruses, by introducing new methods such as induced pluripotent stem cells, in combination with the current gene editing models and sometimes, even by carrying out trials in germ cells. The increasing number of these research activities are fueling the popularity of gene therapy in the APAC region. Depending on type, the APAC gene therapy market is divided into ex-vivo and in-vivo categories.
The APAC gene therapy market is expected to exhibit the highest growth rate in China in the upcoming years. This is attributed to the increasing strategic development activities being announced by the key players and the growing prevalence of rare diseases and cancer in the country. As per an article published in the South China Morning Post in April 2019, around 20 million people are diagnosed with rare diseases in mainland China.
Therefore, the market will boom in the years to come, primarily because of the rising incidence of various chronic and rare diseases and cancer and the surging gene therapy research and development activities being carried out by various private and public companies in the APAC region.
Key Findings of Cardiac Monitoring Market Report • In 2021, the North American cardiac monitoring market accounted for $2,998.3 million in revenue, which will rise at a CAGR of 8.7% from 2021 to 2030. The increasing healthcare expenditure, growing prevalence of CVDs, advancing disposable income, and increasing healthcare knowledge drive the market in the region • Boston Scientific Corporation bought Preventice Solutions Inc. in January 2021 to offer portable ambulatory cardiac monitors and other devices that are essential to sound heart health. • Similarly, ZOLL Medical Corporation declared the purchase of Cardiac Science Corporation in August 2019 to increase AED production for cardiac monitoring and deliver related accessories and services.
What is the Expected Worth of the NGS Sample Preparation Market in Coming Years?
The global NGS sample preparation market was worth around $1,598.8 million in 2021, and it is expected to reach $5,501.2 million by 2030, growing at a CAGR of 14.7% from 2021 to 2030. Due to the rise in medical research activities and the presence of prominent technology suppliers, the APAC market is expected to archive the fastest growth in the near future. Next-generation sequencing (NGS) is a high-throughput technology that may be used to learn about any organism at the transcriptomic, genomic, or epigenetic level.
The pandemic has had a positive influence on the market. To study the virus's structure, the genomic sequence of its etiological agent had to be rebuilt right away. Furthermore, the testing procedure for virus-infected persons has become easier owing to NGS, allowing healthcare experts to create tailored medications for their treatment.
Browse detailed report on NGS Sample Preparation Market Share, and Competition Analysis
Key Findings of NGS Sample Preparation Market Report • The market will also grow due to the significant expansion of the life sciences industry. The demand for NGS samples is driven by the industry's high adoption of improved technologies, growth in developing countries, and increase in scientific and technological skills. • In 2021, the DNA sequencing category held the largest market share, and this trend is projected to continue in the future. Because DNA sequencing is more cost-effective and faster than manual sequencing, it is the most-common use of NGS samples.
• By 2030, the NGS sample preparation market is set to generate $2.2 billion in revenue from academic and research organizations. This is credited to the strong focus on R&D, which is why governments and private firms are increasing their research funding. Moreover, the development of new technologies and growing financial support for the enhancement of NGS products and services are propelling the market. To gain a competitive advantage, key players in the NGS sample preparation market are forming alliances and acquiring companies. These players are Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Agilent Technologies Inc., Oxford Nanopore Technologies plc, New England Biolabs Inc., Integrated DNA Technologies Inc., Illumina Inc., Pacific Biosciences of California Inc., and Beckman Coulter Inc.
This study covers
• 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
• Major players operating in the market and their service offerings
Rising Infertility Cases Augmenting Female Fertility and Pregnancy Rapid Test Kit Demand
Additionally, the mounting healthcare expenditure is propelling the adoption of female fertility and pregnancy rapid test kits across the world. According to the World Bank, nearly 9.85% of global gross domestic product (GDP) is spent on healthcare, as of 2018. Countries that offer improved access to advanced medical treatments spend a substantial part of their GDP on the healthcare sector. Thus, the increasing introduction of diagnostic products with advanced features will fuel the usage of such testing kits in the forthcoming years.
This study covers
• 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
Increasing Prevalence of Diabetes Boosting Sales of Surgical Sutures
Automated suturing devices and sutures are the two major types of surgical sutures used throughout the world. Between these two, the demand for automated suturing devices is predicted to rise sharply in the coming years. This will be due to the fact that these devices save time and need less work because of the existence of several automation features. Moreover, as these devices can be used with minimal doctor involvement, they are widely preferred by geriatric people.
Private clinics, ambulatory surgery centers, nursing homes, and hospitals are the biggest end users of surgical sutures. Out of these, the usage of surgical sutures was the highest in hospitals during the last few years, according to the observations of the market research company, P&S Intelligence. This was because of the existence of a large patient pool in hospitals and the huge requirement for various disease treatment procedures in hospitals across the world.
This study covers
• 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