Healthcare News Net

Rising Prevalence of CVDs Leads to Increasing Demand for Cardiac Biomarkers

In 2021, the cardiac biomarkers industry contributes $8,459.6 million, and it is projected to rise at a rate of 10.5%, to capture $20,718.8 million revenue in 2030. It is led by the rising prevalence of acute coronary syndrome, increasing point-of-care testing kit demand, and technological advancements in the industry. Moreover, the surging investments in biomarker research, increasing CVDs incidences, and rising geriatric population are projected to boost the industry growth.
Troponin holds a significant share of the industry, accounting for 35%, and it is projected to experience significant growth in the coming years. It is due to extraordinary specifications, and protein complex capacity to help in diagnosing cardiac problems, such as ACS, precisely. In addition, the growing incidences of myocardial infarction proliferate the industry led by the wide usage of the troponin to diagnose this condition. Moreover, myocardial creatine kinase is projected to experience the next-significant growth after troponin, in the coming future. Around 18 million deaths worldwide are caused by cardiac vascular diseases each year, which accounts for 31% of all fatalities. Therefore, companies are focusing to offer test kits to facilitate the biomarkers detection for a better understanding of CVDs pathogenesis. Some of the major biomarkers are C-reactive protein (CRP), lipoprotein-associated phospholipase A2, N-terminal prohormone BNP, and cystatin C. Moreover, the surging use of biomarkers in ACS diagnosis and risk assessment proliferates the industry growth. In addition, laboratory testing captures a substantial share of the industry, accounting for 60%, and it is projected to retain its position in the near future. It is led by increasing healthcare expenditure, reforms for improving the healthcare infrastructure, surging disposable incomes as well as initiatives of private and government sectors for the prevention of heart diseases. Moreover, point-of-care testing is projected to experience substantial growth in the near future, led by its increased adoption by healthcare professionals for patient monitoring, in cases of chest pain in critical care centers.

Rising Awareness of Organ Transplantation Proliferates Transplantation Industry?

The transplantation market generates $13,605.9 million revenue, and it is projected to capture $30,117.5 million revenue in 2030, growing at a rate of 9.2% from 2021 to 2030. It is led by the rising incidences of chronic diseases, such as solid tumors, kidney failure, myelodysplastic disorders, plasma cell disorders, along with disorders of the immune system. In addition, the growing awareness of organ donation, including technological advancements such as robot-assisted kidney transplants, and the growing success of organ transportation boost the industry's growth. Moreover, tissue products for transplantation hold a significant share of the industry, and they are projected to retain their position in coming years due to rising usage in orthobiologics in orthopedic procedures such as normal functioning restoration, tissue healing, pain minimization, rising elderly population.
Under the application segment, tissue transplantation generates a substantial revenue share, accounting for over 60%. It is projected to retain its position in the coming years. The rise in tissue transplantation activities is led by the increasing transplantation of blood vessels, skin ligaments, heart valves, bones, tendons, and corneas. Moreover, skin grafting is a widely used common tissue transplantation procedure, led by the rising cases of burns and increasing incidences of road accidents and skin cancer. Organ transplantation is projected to witness decent growth in the coming years, ascribed to the growing requirement for organ transplantation led by unhealthy dietary habits and a decline in physical work. In addition, national governments are implementing rules and regulations for organ transplantation, along with rising initiatives for increasing awareness about organ transplantation. North America captures the 40% share of the transplantation industry. The U.S. leads the region’s industry, led by the massive number of patients requiring organ transplantation for treatment, more specifically for kidneys, liver, pancreas, heart, liver, and lung transplantation. In addition, growing R&D in healthcare increases the success rate of such activities. Therefore, the rising prevalence of chronic diseases boosts industry growth, with growing requirements for organ transplantation.

Innovations in Medical Gases and Equipment: A Deep Dive into the Market Trends

The medical gases and equipment industry has garnered $18.10 billion revenue in 2021, and it is expected to rise at the rate of 7.20% from 2021 to 2030, to generate $33.84 billion revenue in 2030. It is led by worldwide growing prevalence of chronic diseases. Additionally, the technological advancements fuelling the home healthcare sector are projected to propel the medical gases and equipment industry in the coming years. Moreover, the rising prevalence of respiratory diseases, led by surging count of tobacco smokers, increasing pollution levels, and growing preterm births frequency propel the industry. Furthermore, the rising initiatives of public organizations to encourage the usage of equipment boosts the industry. In addition, the FDA has updated the CGMP regulations that include new labeling, design, and color necessities for oxygen supply compartments and closures. It can be easily distinguished and decreases the gas pollution risk.
In addition, the rising footfall of patients in emergency care and ambulatory surgeries propels the industry. The noxious substance poisoning treatment and severe hypoxia require administration of 100% oxygen through facial mask, led by the life-saving ability of oxygen. It is further expected to boost the demand of oxygen in the coming years. Argon and Helium are odorless, colorless, non-toxic inert gases. They are medically used for the gas knife, argon gas knife, and other surgical instruments. Compressed air is used for delivering power to orthopedic instruments, surgical instruments, and ventilators. Nitrogen is an odorless, colorless, non-flammable, non-toxic gas. It stays inactive at room temperature. It is used to drive medical tools and equipment in healthcare. Liquid nitrogen is utilized in cyrosurgery in surgery in gynecology, stomatology, and ophthalmology. Therefore, the rising prevalence of respiratory diseases boosts the demand for medical gases and equipment.

How Endoprostheses can Help the People Suffering from Bone Cancers?

Limb Salvage Operation can now be advised for about 90% of the people who are detected with bone cancer. This is possible because of the initiation of modular endoprostheses, development in surgical methods, diagnostic moods, improved chemotherapy medications and regimes and the better comprehension of bone malignancies. These kinds of surgeries require scrupulous pre-operative planning and necessitates the orthopaedic surgeon to deliberate the case in a multi-disciplinary institution and cancer centre which has all the necessary supportive units. A trained and knowledgeable Musculo-Skeletal Radiotherapist, an expert team of Vascular surgeons, support of plastic surgery in addition to the Orthopaedic surgeon form the main team for carrying out these kinds of procedures.
Parts of Limb Salvage Surgeries Salvage Surgeries of the limbs mostly comprise two parts, Resection and Reconstruction. The former includes removal of the bone which has tumour safely out of the body by possessing a margin of usual tissue round the bone, in such a manner that there is no tumour left. Reconstruction includes replacement of the bone/ joint resected out by the help of metal prosthetic device or supplementary biological approaches. In the meantime, one size doesn’t fit all the people, modular endoprostheses in various size and shape are available for altering as per the size of the joint and bone length resected out. Endoprostheses permit patients to tolerate weight on them when the lower limb reconstructions take place practically immediately after the surgical procedure. Patients can recommence the activities incorporated in the daily routine like, climbing stairs, walking and other routine activities subsequently two-three weeks post-surgery with the assistance of these modular endoprostheses. At the present time, lower limb endoprostheses which include rotating platforms are obtainable for rebuilding in resection of tumours in the bone about the knee joint, where the knee joint requires to be replaced. Likewise, collars that are hydroxyapatite coated for endoprostheses stems are accessible allowing bone incorporation and overgrowth around the metal stem- bone edge. It is because of the increasing cases of peripheral vascular diseases and orthopaedic illnesses and increasing knowledge of patients regarding the use of prostheses for orthopaedic injuries. Owing to all these reasons the demand for endoprosthesis will reach a value of around $65,998 million by 2030, at a growth rate of over 12% all across the globe.

North America ISOs Medical Device and Equipment Maintenance and Calibration Services Market To Reach $3,612.9 Million by 2030

Factors such as the enhancements in the medical device industry, stringent regulatory norms, and high awareness on preventive medical equipment maintenance will drive the North American independent service organizations (ISOs) medical device and equipment maintenance and calibration services market at an 8.9% CAGR during the forecast period (2021–2030). The market accounted for a $1,468.8-million size in 2019, and it is expected to reach $3,612.9 million by 2030. Currently, the market is witnessing the trend of the adoption of comprehensive contracts among the medical centers in the region.
Additionally, the increasing awareness regarding preventive medical equipment maintenance will boost the North American ISOs medical device and equipment maintenance and calibration services market in the future. Medical devices, such as ultrasound systems, X-ray systems, and endoscopes, are used in several clinical applications. These systems require proper and constant maintenance to increase their lifespan. In addition, maintenance and calibration aid in preventing infections due to the usage of such devices on multiple patients. To avoid any unprecedented situation, healthcare facilities are increasingly focusing on the cleanliness of medical equipment and devices. The automation segment of the North American ISOs medical device and equipment maintenance and calibration services market is bifurcated into automated devices and manual devices. Of these, the automated devices category accounted for the larger market share in 2019, and it is expected to hold its dominance in the forecast years. This can be attributed to the amplifying financial support from the government for medical automation, increasing technological innovations in automation solutions, and fueling need for the accuracy and reproducibility of medical devices and equipment. At present, the North American ISOs medical device and equipment maintenance and calibration services market is highly fragmented due to the presence of numerous market players. These companies are actively entering into mergers and acquisitions to gain a competitive edge. For instance, Agiliti Inc. acquired Mobile Instrument Service & Repair Inc. in February 2020, to widen its product portfolio by including the general and laparoscopic handheld instrument, flexible and rigid endoscope, and video camera and processing system repair and maintenance services offered by the latter. Therefore, with the strict government regulations and growing awareness regarding preventive medical equipment maintenance, the market will boom at a high rate in the coming years.

Facial Skin Ablative Treatment Market Revenue To Surpass $8,000.0 Million by 2030

The global facial skin ablative treatment market reached a value of $4,134.6 million in 2019 and it is predicted to advance at a CAGR of 7.8% from 2020 to 2030 (forecast period). According to the estimates of the market research company, P&S Intelligence, the market will generate a revenue of $8,394.3 million by 2030. The market is being driven by the surging number of aesthetic procedures being carried out in several countries, mushrooming population of geriatric people, rapid technological advancements, increasing disposable income of people, and rising public awareness about advanced aesthetic treatments, via conferences and seminars across the world. Besides the aforementioned factor, the increasing disposable income of people is also propelling the advancement of the facial skin ablative treatment market. With the increasing disposable income, people are able to spend more heavily on their looks and appearance and various skin treatment procedures. As per the U.S. Bureau of Labor Statistics (BLS), in the U.S., the personal disposable income of people surged from $10,935.0 billion in 2008 to $15,521.8 billion in 2018 and it will rise to $23,132.7 billion by 2028.
The other major factor driving the demand for facial skin ablative treatment procedures is the growing public awareness about aesthetic procedures. Across the globe, many exhibitions, conferences, and seminars are being held to raise public awareness about the rapid advancements being made in aesthetic and cosmetic treatment procedures. For example, in April 2019, the Aesthetic & Anti-Aging Medicine World Congress (AMWC) was organized by EuroMediCom (Informa Group) in Monte Carlo, Monaco. During this event, five sessions were held on anti-aging and aesthetics, with discussions between various experts and opinion leaders. Geographically, the facial skin ablative treatment market is expected to register the fastest growth in the Asia-Pacific (APAC) region during the forecast period. This is attributed to the surging disposable income of people and healthcare expenditure in several countries in the region. Additionally, the mushrooming population, booming aesthetic medical tourism sector, and soaring investments being made by manufacturers are also propelling the popularity of facial skin ablative treatment procedures in the region. As per the World Bank, the healthcare spending of Japan increased from around 9.1% of its gross domestic product (GDP) in 2010 to 10.9% of its GDP in 2018.

Increasing Elderly Population Call for More Spinal Treatments

In 2021, the interbody spine implants market was valued at $1,904.8 million and will reach $2,471.8 million by 2030, growing at a rate of about 3% during the forecast period. The major factors responsible for the development of the market are the improvements in the technologies of spine surgery, an increase in demand for devices for spinal fusion because of the surge in the incidence of spinal ailments, rapid acceptance of minimally invasive surgeries for the spine, and surge in the introduction of innovative bone-grafting products.
The interbody spine implants market of the APAC region will grow the fastest, with a growth rate of over 3.0%, by the end of this decade. Japan, India, China South Korea, and Australia contribute significantly to the regional market. This is because of the existence of a large patient population, a rise in consciousness of spinal disorders and treatment opportunities, enhancements in healthcare infrastructure, and an increase in healthcare spending. Furthermore, there is a presence of elderly population has a high risk of spinal ailments. The metal-based implants will have the highest demand of over 45% in the interbody spine implants market and will have the highest growth rate in the years to come. This has a lot to do with the high usage of metal-based implants in spine surgeries, because of their durability, suppleness, and robustness. Apart from that, these comprise metals like stainless steel, tantalum, and titanium. Asa per the AAOS, most spinal implants are made with a combination of titanium alloys, pure titanium, and stainless steel. Hospitals make the maximum use of interbody spine implants, as spine surgeries are performed here in large numbers for treating several spine ailments. They have over half of the total requirement for these implants. They have the ultimate nursing facility for spinal care with a joint approach to orthopedics and neuroscience. Similarly, the progressive healthcare facilities and skill of spine surgeons here are the primary reasons behind the expanding demand for spinal implants in hospitals. The demand for Interbody spine implants is on the rise in the world because of the increasing cases of DSD and the increase in the elderly population.

Professional Acne Treatment Market To Generate $13,124.5 Million Revenue by 2030 A number of factors, such as the increasing prevalence of acne, escalating disposable income of people in developing and developed countries, rising number of research programs, and mounting healthcare expenditure, are expected to drive the professional acne treatment market at a CAGR of 7.6% during 2020–2030. According to P&S Intelligence, the market was valued at $6,298.9 million in 2020, and it is projected to generate $13,124.5 million revenue by 2030. The global demand for professional acne treatment is driven by the surging incidence of acne in the adolescent and young populations. Acne vulgaris is a common dermatological disorder affecting a majority of the global population at some point during its life. For example, the American Academy of Dermatology (AAD) estimates that acne affects approximately 50 million Americans annually. As per the AAD, around 85% of the individuals aged 12–24 years are affected by at least minor acne. Moreover, the surging public awareness on physical appearance will facilitate the professional acne treatment market growth worldwide. Owing to the increased awareness, people across the world are heavily investing in comprehensive skincare routines for skin problems, such as acne and scars. Topical therapies, lasers, systemic agents, photodynamic therapies, and physical modalities are the most-common ways in which professional treat skin ailments. Furthermore, clinicians also recommend combination therapies to permanently reduce the occurrence of acne. The acne type segment of the professional acne treatment market is bifurcated into inflammatory and non-inflammatory. Of these, the inflammatory category generated the higher revenue in 2020 due to the surging need for an effective treatment for inflammatory acne, as it is usually painful. A large number of pharmaceutical companies are offering branded and generic drugs for inflammatory acne, as the commonly available benzoyl-peroxide and salicylic-acid-based over-the-counter (OTC) products are not completely effective on it. Geographically, North America accounted for the largest professional acne treatment market share during the historical period (2014–2020). This was due to the rising cases of acne, surging public awareness on newly developed drugs, and growing per capita income in the region. Moreover, the presence of a strong pipeline of major dermatology drug manufacturers, such as Pfizer Inc., Johnson & Johnson, and Bausch Health Companies Inc., will facilitate the market growth in North America. Therefore, the rising cases of acne and growing public awareness on physical appearance are the key facilitators of the market growth.
U.S. Endoscope Repair Market Revenue To Be $990.7 Million by 2030 From $405.6 million in 2021, the U.S. endoscope repair market is predicted to touch $990.7 million by 2030. The market is projected to grow at a 10.4% CAGR from 2021 to 2030 owing to a higher prevalence of respiratory, colorectal, and malignant gastrointestinal (GI) diseases than before; increasing number of hospitals, bettering quality of healthcare services, and highly competitive market players. Moreover, the increasing count of preventive treatments and diagnostic procedures due to a rising geriatric population will pave the way for an extensive usage of endoscopes.
The growing adoption of equipment insurance is one of the major trends in the U.S. endoscope repair market. There is a robust requirement for insurance because of the exorbitant maintenance costs of medical devices. To protect healthcare institutions from heavy losses owing to equipment damage and uncertainties, medical device insurance is offered by numerous corporations. They include DESCO, American International Group Inc., Anco Insurance, Medical Equipment Repair Associates, ProTek Insurance, Cailor Fleming Insurance, and CAN Financial Corporation. The U.S. endoscope repair market is bifurcated into OEMs and ISOs, on segmentation by service provider. ISOs will exhibit a higher rate of growth, of more than 10%, in the coming years. This can be ascribed to the advantages of contracting ISOs, including better flexibility and lower expenses in repairing and servicing the endoscope equipment of different OEMs. Furthermore, attempts to alleviate the additional expenses and complexities linked with different services under contract with various OEMs can be made through the greater adoption of comprehensive repair & maintenance contracts with ISOs. There is a boundless U.S. endoscope repair market growth opportunity in Texas. The state market is predicted to witness the highest compound annual growth rate from 2021 to 2030. This can be credited to a swift spread of cancer, coupled with a boom in the aged population in the state. Moreover, the Texas Teacher Retirement System (TRS), Department of State Health Services (DSHS), Employees Retirement System (ERS), and Department of Aging and Disability Services (DADS) account for approximately 83% of the annual healthcare expenditure, raising its affordability among the masses. With the growing count of gastrointestinal and colorectal infection cases, the count of endoscopy procedures for treatment and diagnosis has been surging. The incidence of GI and benign disorders, along with colorectal problems, is on a significant rise. Similarly, disorders including biliary and pancreatic diseases are very much prevalent among the aged population. On account of efficacy and safety concerns, there is an inclination of patients and doctors toward the usage of endoscopes for the diagnosis of tumors.

With Rising Geriatric Population, ENT Devices Market To Cross $30 Billion by 2030

The major driver for the ENT devices market is the growing incidence of disorders related to the ear, nose, and throat, such as sinusitis and hearing problems; rising demand for minimally invasive ENT procedures, and burgeoning spending on healthcare around the world. Because of all these factors, the revenue generated by the devices used in such procedures is expected to witness a 6.9% CAGR, to reach $31,805.3 million by 2030 from $17,439.8 million in 2021. Hospitals generate over 40% of the revenue for the market players, based on end user, because they are the preferred point of contact for people with health issues. Moreover, with governments constructing new hospitals, the procurement of ENT devices by such entities will burgeon in the coming years. Further, ENT clinics will be the fastest-advancing category over the forecast period because the treatment offered at such places costs much less than one offered at a full-fledged hospital. Another major reason behind the advance of the ENT devices market is the burgeoning aging population. The elderly are prone to ENT diseases, especially hearing loss and throat infections, because of their physical weakness and compromised immunity. According to the UN, there were 727 million people in the age group of 65 and above in 2020, and their population will rise to 1.5 billion by 2050. This is expected to boost the volume of ENT procedures at all kinds of medical settings, thereby driving the demand for the devices used during them. North America currently dominates the ENT devices market because of the high prevalence of related diseases, high healthcare spending, and advanced medical infrastructure. For instance, in the U.S., 10% of the adult people suffer from chronic rhinitis each year. Further, the medical insurance ecosystem in the region is rather developed, which offers the masses access to ENT procedures. In addition, a large number of domestic and international medical device manufacturers operate in the U.S. and Canada, thus resulting the easy availability of the equipment. During the decade, APAC will grow considerably fast in the market as it is home to the largest patient population in the world. Further, the geriatric population of India and China is the largest on earth, as is the incidence of diseases of the nose, ear, and throat. Additionally, governments of regional countries are augmenting their spending on the improvement of healthcare services, which is driving the volume of ENT procedures. Moreover, seeing the lucrative opportunity, overseas medical device manufacturers are strengthening their focus on the APAC region. Thus, the rising prevalence of ENT diseases, especially among the elderly, is propelling the market.