Medical and Pharmaceutical Industry - Market Research Report

  CBD Pet Industry Overview The global CBD pet market size was valued at USD 125.00 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 58.9% from 2021 to 2028. The perceived benefits of cannabis, high awareness among pet owners, and preference for natural pet supplements have led to an upsurge in the market growth. The benefits of CBD-based products in fixing physical and mental issues in pets are driving the market. According to the Cannabis product news report, around 24.0% of U.S. pet owners consume CBD-based products either for themselves or for their pets. Pet CBD treatment has been found useful in treating diseases like cancer, anxiety, sleep disorders, and epilepsy. Rising incidences of anxiety disorder in pets, especially dogs, is another growth propelling factor for the market. The Covid-19 pandemic has increased pet ownership, resulting in significant spending on pets. As per the APPA estimation, 11.4 million households got a new compan...

  Medical Supply Delivery Service Industry Overview The global medical supply delivery service market size was valued at USD 48.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.3% from 2021 to 2028. An increase in the volume of surgical procedures, coupled with the surge in the adoption of medical courier services for delivering medical supplies to healthcare facilities on time, is expected to fuel the market growth. The growing need to ensure quick and secure transportation of samples and specimens for testing, declining cost of logistics, and increasing focus on improving the healthcare system are driving the demand for medical supply delivery services. In addition, the increase in the incidence of road accidents that lead to blood loss and immediate requirement for blood is boosting the market growth. The expansion of healthcare logistics and rising demand for faster and cost-effective delivery of samples and specimens for testing or diag...

  Fusion Biopsy Industry Overview The global fusion biopsy market size was valued at USD 489.1 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.6% from 2021 to 2028. Increasing prevalence of prostate cancer, growing awareness about the importance of regular clinical interventions, and developing reimbursement policies are factors likely to boost the demand for targeted MR/ultrasound biopsy systems over the forecast period. The global number of fusion biopsy procedures declined by around 50.0% during the first semester of the COVID-19 pandemic. Among the procedures that happened during this time, prostate MRI was preferred in most hospitals. The number of procedures, and thus, the demand for new devices resumed after July 2020 as the number of the cases stabilized at a global level. The low-risk patients were managed by an active surveillance strategy which helped minimize the hospital visits associated with COVID-19 risks. Availability of COV...

  COVID-19 Clinical Trials Industry Overview The global COVID-19 clinical trials market size is valued at 5.0 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.5% from 2021 to 2027. The market is majorly driven by the rapid spread of coronavirus leading to a staggering number of deaths globally thus putting pressure on healthcare organizations to provide therapeutics/vaccines. The increasing research activities on a global scale are also creating demand for COVID-19 clinical trials, boosting the market growth. Factors such as globalization of clinical trials, demand for CROs to conduct clinical trials, and technological evolution, are further anticipated to drive growth. As per the World Health Organization (WHO), till June 24th, 2020, the virus had infected around 9.1 million people globally and had claimed more than 0.47 million lives with 80% cases in the U.S. and Europe overtaking China where the pandemic first began in December 2019. The U.S...

  Preparative And Process Chromatography Industry Overview The global preparative and process chromatography market size was valued at USD 7.15 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.65% from 2021 to 2028. Large-scale integration of liquid chromatographic techniques in downstream processing, technological advancements, and high demand for preparative techniques have accelerated the growth in this space. Increasing demand and approval of monoclonal antibodies in the pharmaceutical and biotechnology industries are expected to fuel the growth in this space throughout the forecast period. This can be attributed to the higher penetration of the service providers in the antibody separation techniques that are based on chromatographic principles, such as affinity chromatography and column displacement chromatography. Moreover, ongoing research paradigms for the separation and analysis of monoclonal antibodies using the mild reverse phase c...

  Intragastric Balloons Industry Overview The global intragastric balloons market size was valued at USD 14.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028. The increasing prevalence of obesity is anticipated to drive market growth. Furthermore, the rise in demand for minimally invasive procedures is anticipated to further boost the market growth. Obesity is a major health concern across the globe. The obesity pandemic is expected to continue increasing over the forecast period, thus fueling the market growth. For instance, according to the World Health Organization (2016) data, nearly 2 billion individuals were overweight, and out of which around 650 million were obese. In addition, it is estimated that, by 2025, 2.7 billion individuals will be overweight and around 1.0 billion will be obese. Despite the high prevalence of obesity and the wide acceptance of weight-loss surgical procedures (such as gastric bypass and ...

  Life Science Tools Industry Overview The global life science tools market size was computed at USD 92.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028. The anticipated growth in revenue is attributed to rapid technological advancements adopted by the life science tools companies in mass spectrometry, sequencing technologies, chromatography methods, NMR, and other products. An exponential rise in the COVID-19 cases globally boosts the demand for life science tools for rapid diagnosis. As the world is engaged in curbing the spread of COVID-19, automation and robotic technologies play an important role in accelerating manual and redundant tasks in pharmaceutical companies and laboratories. To overcome the COVID-19 pandemic, drug developers are continuously working on the development of vaccines and other treatment options. The robotic companies are highly active in this space and are offering automated solutions to drug ...

  Multiparameter Patient Monitoring Systems Industry Overview The global multiparameter patient monitoring systems market size was valued at USD 10.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028. The growing demand for early diagnosis and treatment of chronic diseases, high demand for real-time patient monitors in critical care units, the need to make better clinical decisions on the spot, and documenting changes in a patient’s condition at every stage are factors likely to boost the market growth. Globally, the coronavirus outbreak resulted in historic losses across markets, driving countries into financial crises. According to the CDC, in March 2020, regulators and health authorities ordered all private clinics to immediately stop seeing patients, except for emergency treatment, leading to high revenue loss across the sector. However, the pandemic has had a positive effect on the multiparameter monitoring devices mar...

  3D Printed Surgical Models Industry Overview The global 3D printed surgical models market size was valued at USD 282.5 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.6% from 2021 to 2028. This growth can be attributed to the rising demand for personalized healthcare, technological advancements in surgical tools and techniques, and 3D printed materials. In 2020, the 3D printing industry gained widespread acknowledgment due to its ability to meet urgent manufacturing needs and overcome the shortcomings of traditional manufacturing during the COVID-19 pandemic. The outbreak of the COVID-19 pandemic negatively impacted the market for 3D printed surgical models in 2020 due to delays in elective surgeries and increasing strain on hospital financial resources resulting in reduced investments in advanced 3D printing systems. Furthermore, the supply chain disruption, economic slowdown, and reduction in operational activities across various relate...

  Clinical Workflow Solutions Industry Overview The global clinical workflow solutions market size was valued at USD 7.59 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.4% from 2021 to 2028. The healthcare system is constantly being challenged to provide good quality care. The aging population, diminishing resources, budget restraints, and the lack of standard devised clinical SOPs and treatment regimens are some of the key factors that have fueled the demand for quality care. In order to fulfill this, hospitals are more openly migrating to technology-driven frameworks. Hospitals and medical settings are in the process of integrating workflows for tedious documentation, medical and administrative staff management, and easy access to the patient’s clinical and administrative data in all their departments. Furthermore, multi-modal hospitals need to share the data with their branch offices, thus increasing the usage of interoperable quality so...

  Pelvic Floor Electric Stimulator Industry Overview The global pelvic floor electric stimulator market size was valued at USD 180.92 million in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 11.5% from 2021 to 2028 to reach USD 427.15 million by 2028. The high prevalence of urinary incontinence, increasing awareness initiatives by various government and non-profit organizations, and the rising technological advancements, are the most significant growth drivers for this market. Factors such as the rising prevalence of neurodegenerative disorders, growing geriatric population, rising demand for home healthcare, and increasing use of medical sensors in various treatments are further expected to boost the market growth. The rapid rise in the geriatric population at higher risk of urinary incontinence is also one of the key factors responsible for the increasing demand for pelvic floor electric stimulators. The pelvic floor electric stimulator provides neur...

  Cellular Health Screening Industry Overview The global cellular health screening market size was valued at USD 2.22 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2021 to 2028. Cellular health screening facilitates easy and rapid understanding of one’s health at a cellular level. This technology helps in identifying areas that need immediate support and enables professionals to develop an individualized plan to achieve effective results. Due to the COVID-19 pandemic, market players witnessed a decline in their sales and base testing volume. Moreover, the supply chain is disrupted due to governmental impositions and restrictions on transportation, export, and import of products, raw materials, etc. during the pandemic. This has led to a decrease in the demand; many of the organizations have diversified their product portfolios from cellular health testing line to COVID-19 molecular and antibody testing, which can equally offset the de...