Medical and Pharmaceutical Industry - Market Research Report

  Surge Protection Devices Industry Overview The global  surge protection devices market  size is expected to reach USD 5.30 billion by 2030, expanding at a CAGR of 9.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the growing need to protect electronic devices from any potential surges. The alternative energy programs being pursued aggressively all over the world and the growing instances of lightning strikes stemming from the increase in global warming are some of the other factors that are expected to drive the demand for surge protection devices (SPDs) over the forecast period.   A surge occurs due to voltage imbalances, interferences in transformers, radio interferences, or differences in potential. Electronic devices can be highly vulnerable to transient voltages. At this juncture, surge protection devices are widely used in electrical installation systems to protect electronic devices. Surge protection

  Nebulizer Industry Overview The global  nebulizer market  size is expected to reach USD 1.77 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.2% from 2022 to 2030. The rising incidence rate of chronic respiratory diseases, increasing demand for home healthcare devices, and rising geriatric population worldwide are the major factors leading to the market growth.   The COVID-19 outbreak has affected millions of people around the globe. Asthma or COPD patients, who were aware of the risk of airborne transmission of COVID-19, were hesitant with regard to the use of inhaled medications, which are considered a potential source of viral transmission and immunosuppression. Though, medical practitioners advised all such patients to continue using their prescribed inhaled medications, including nebulizers. Nebulized albuterol was recommended in some parts of the U.S. as an alternative to albuterol rescue inhalers when pharmacies

  Telemedicine Industry Overview The global  telemedicine market  size is anticipated to reach USD 380.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 19.5% over the forecast period. The key factors driving the market growth include the increasing prevalence of chronic conditions, aging population, telehealth uptake, and rising demand for reduction in care costs. SOC Telemed reported 140,743 total system-wide consults during Q3 2021, an increase of about 76% year over year. The company also reported a recovery in telepsychiatry volumes to pre-COVID levels and significant volume increases in the teleneurology service line. About 1,087 total facilities were serviced by SOC Telemed including 193 facilities serviced by Access Physicians.   The COVID-19 pandemic had an overall positive impact on the market. It led to increased awareness about telemedicine solutions, propelled the adoption rates among patien

  Air Purifier Industry Overview The global  air purifier market  size is expected to reach USD 25.97 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.1% from 2022 to 2030. The market is primarily driven by increasing air pollution levels, coupled with the outbreak of the COVID-19 pandemic and the rising awareness pertaining to the benefits of air purifiers. Air purifiers assist in eliminating various health hazards caused by poor air quality by removing contaminants, including dust, smoke, and pollen. In addition, these products aid people suffering from asthma, airborne allergies, and other respiratory conditions. Thus, increasing health awareness among consumers is expected to drive the product demand over the forecast period.   Lockdown measures to curb the spread of COVID-19 and the stay-at-home and work-from-home norms have boosted the demand for air purifiers in residential applications. Furthermore, the demand fo

  Healthcare Cyber Security Industry Overview The global  healthcare cyber security market  size is expected to reach USD 56.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 18.3% from 2022 to 2030. An increasing number of cyber-attacks in the healthcare industry, a raise in threats, and concern for privacy and security are contributing to the growth of the market. The increase in cases of cyber-attacks and data breaches globally has raised the concern thereby, increasing demand for cyber security. For instance, the Secretary of U.S. Department of Health and Human Services (HHS) Breach of Unsecured Protected Health Information listed 592 breaches of unsecured protected health data affecting more than 500 individuals within the last two years that are currently under investigation by the Office for Civil Rights. 306 of the breaches were submitted in 2020.   The Healthcare sector is prone to various cyber-attacks.

  Cardiac Rhythm Management Devices Industry Overview The global  cardiac rhythm management devices market  size is anticipated to reach USD 31.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 6.5% from 2022 to 2030. The key factors driving the market include growth in the adoption of cardiac rhythm management (CRM) devices owing to the increasing prevalence of cardiovascular disorders. According to the Centers for Disease Control and Prevention (CDC), as of September 2021, approximately 659,000 Americans die suffering from heart disease every year. The market was negatively impacted during the COVID-19 pandemic, as elective procedures, including the non-essential cardiovascular procedures, were postponed or canceled during the pandemic.   Major players in the market such as Medtronic; Abbott; and Boston Scientific Corporation, incurred huge losses in their cardiac rhythm management business segments gl

  Hospital Linen Supply And Management Services Industry Overview The global  hospital linen supply and management services market  is expected to reach USD 21.3 million by 2030, according to a new report by Grand View Research, Inc. The increase in the prevalence of epidemics and pandemics, such as Ebola, COVID-19, and SARS along with the rising awareness regarding surgical site infection are the key factors driving the hospital linen supply and management services market.   Outsourcing of hospital linen supplies & services is preferred over in-house due to various advantages associated with it. Outsourcing is a convenient option for laundry of a large number of linen clothes. Value-added services provided by the majority of the key players include laundry services. Therefore, outsourcing hospital linen supplies & services boost the revenue of these companies, thus increasing their industry share. Outsourcing helps healthcare facilities to focus on their core competencies,

  Testing, Inspection, And Certification Industry Overview The global  testing, inspection, and certification market  size is expected to reach USD 491.3 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.0% from 2022 to 2030. The incremental deployment rates of testing, inspection, and certification systems and solutions can be accredited to the rise in manufacturing activities worldwide. Furthermore, the onset of Industry 5.0 and the rise in connected systems further augment the need to deploy TIC-based technologies in tandem with manufacturing activities. Thus, the manufacturing application segment is expected to expand at a significant growth rate over the forecast period due to the need to optimize manufacturing processes and end products. For instance, in January 2022, SGS, a Swiss international business that provides inspection, verification, testing, and certification services, launched a new Vehicle Over the Air (OT

  Surgical Microscopes Industry Overview The global  surgical microscopes market  size is expected to reach USD 2.9 billion by 2030, growing at a CAGR of 11.37% from 2022 to 2030, based on a new report by Grand View Research, Inc. With the advent of surgical microscopes, it became easier for surgeons to perform such procedures more accurately in less time. In addition, the introduction of technologically advanced products is driving the demand for surgical microscopes as they are more precise, offer better illumination sources, and provide options for customization and technology integration based on the complexity of the procedures.   Emerging technologies such as wide-angle illumination, Red Reflex illumination, automation and augmented reality microscopy are expected to boost the market growth. International players like Carl Zeiss Meditec AG and Leica Microsystems are contributing to the market by providing highly advanced, automated, and robotic surgical microscopes for more pr

  Craniomaxillofacial Devices Industry Overview The global  craniomaxillofacial devices market  size is expected to reach USD 3.47 billion by 2030 at a CAGR of 9.4% over the forecast period, according to a new report by Grand View Research, Inc. Craniofacial surgery treats conditions that affect the head, skull, face, and neck. The rise in the number of facial and head injuries caused due to road accidents and the rise in the number of sports-related injuries is expected to boost demand for craniomaxillofacial devices. Apart from this, the increase in usage of minimally invasive surgeries is also one of the key factors expected to support market growth.   Organizations such as the American Society of Craniofacial Surgery (ASCFS) and the International Society of Craniofacial Surgery (ISCFS) are conducting a research program in a probe to increase awareness of CMF surgeries, boosting consumer awareness about the craniomaxillofacial devices. Neck injuries are one of the most common ty

  Personal Care Contract Manufacturing Industry Overview The global  personal care contract manufacturing market  size is anticipated to reach USD 37.11 billion by 2030, exhibiting a CAGR of 8.1% during the forecast period, according to a new report by Grand View Research, Inc. Rising demand for manufacturing capabilities from OEMs, coupled with increasing requirement of personal care products, is anticipated to drive the industry growth.   Growing demand for organic and natural personal care products on account of increased awareness of the harmful effects of chemical products is likely to boost growth in the sector over time. Furthermore, the COVID-19 pandemic has resulted in increased demand for personal hygiene products, which, in turn, positively impacts the industry growth. The rapid growth of the personal care industry especially in China, India, and Brazil is projected to propel the growth of the contract manufacturing market. The need for companies to cater to this rising

  Ophthalmic Devices Industry Overview The global  ophthalmic devices market  size is expected to reach USD 9.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.0% from 2022 to 2030. The rising geriatric population is presumed to propel the need for ophthalmic devices as this age group is more prone to the development of chronic eye disorders. According to the National Institute on Aging (NIA), the geriatric population would be about 72 million individuals by 2030. The rising prevalence of eye disorders such as macular degeneration, cataract, diabetic retinopathy, and glaucoma is also boosting the growth of ophthalmic devices.   As per WHO, glaucoma accounts for 4.5 million cases of blindness globally. In the United States, glaucoma is termed as the "Silent Thief of Sight," which is the second-leading cause of blindness. The market growth can also be attributed to technological advancements such as the