Medical and Pharmaceutical Industry - Market Research Report

  MEA Hip And Knee Reconstruction Devices Industry Overview The MEA hip and knee reconstruction devices market size was estimated at USD 1.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028. Technological advancements and the growing prevalence of orthopedic conditions resulting in a spike in hip and knee surgeries are anticipated to boost the growth of the market for hip and knee reconstruction devices. Furthermore, an increase in lifestyle disorders and the rising target population is also fueling market growth. Hip and knee reconstruction procedures have been considered non-urgent during the COVID-19 pandemic. Due to this, all outpatient and elective interventional procedures were limited or interrupted. Specialty centers for orthopedic procedures were also shut down during the pandemic, which further negatively impacted the market for hip and knee reconstruction devices. In addition, due to the risk of infection, pati...

  North America Oxygen Concentrators Industry Overview The North America oxygen concentrators market size was valued at USD 1.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.7% from 2021 to 2028. The ongoing COVID-19 pandemic is rapidly increasing demand for respiratory care products including concentrators. For instance, Invacare Corporation witnessed a 72.2% increase in sales of respiratory products in the fourth quarter of 2020 in North America owing to the COVID-19 pandemic. COVID-19 patients who do not require ventilator support can be treated with an oxygen concentrator. Moreover, COVID-19 patients can take oxygen therapy in the safety and comfort of their homes. The application of oxygen concentrators in the treatment of COVID-19 is a major reason for the sudden increase in demand in 2020. An increasing number of cases of COPD is a major parameter driving the growth of the market. According to the American Lung Association, 14.9 mi...

  North America Sports Nutrition Industry Overview The North America sports nutrition market size was valued at USD 12.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2028. Increasing awareness about the health benefits of consuming sports nutrition products among bodybuilders and athletes is driving the market growth. Moreover, the increasing number of gym-goers and active lifestyle consumers’ adoption of sports nutrition products is further supporting market growth potential. Demand for sports nutrition products is growing rapidly from core users and active lifestyle consumers in North America. Light users consumed sports nutrition products specifically targeting muscle support, energy, weight management, and healthy snacking. Core users or heavy users are focused on sports supplements required for muscle building, strength performance, endurance, and recovery. Consumers involved in strength training are major consumers o...

  B2B Sports Nutrition Industry Overview The global B2B sports nutrition market size was valued at USD 2.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2021 to 2028. The rising demand for nutrition products in the form of protein bars, sports supplements, energy drinks, and other dietary supplements amongst athletes and recreational fitness enthusiasts is one of the key factors driving the market. Additionally, there has been a surge in the number of gyms and fitness centers across the globe, which is attributable to a rising inclination toward a healthy and physically active lifestyle amongst the consumers, thereby positively influencing the market growth. Moreover, gyms, fitness centers, and wellness centers endorse sports nutrition products and other well-being products which would significantly contribute to growth and development.  Rapid urbanization coupled with an increase in disposable income and healthcare expenditur...

  Europe Reusable Water Bottle Industry Overview The Europe reusable water bottle market size was valued at USD 1.72 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028. Rising awareness regarding plastic pollution levels across the region is influencing consumers to disregard bottled water, thereby driving the market for the reusable water bottle. In addition, the adoption of a healthier lifestyle among consumers to keep themselves hydrated is expected to boost the sales of the product in the forecast period. The widespread home isolation guidelines have spurred the demand for various kitchen products, including reusable bottles, during the Covid-19 pandemic. According to a blog post by Klarna, millennials and Generation X used a large portion of their income on home and garden products during the lockdown. These items included drinkware, kitchenware, and other household products. Before the pandemic, 42% of people purchased...

  Drug Testing Industry Overview The global drug testing market size to be valued at USD 11.7 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% during the forecast period. Stringent regulations by government agencies mandating alcohol and drug testing for safety purposes and increasing initiatives to monitor and combat substance abuse are anticipated to support the market growth. Also, the growing incidence of substance abuse across the globe has led to an increase in the need for its screening, which has propelled the demand for drug testing. Moreover, the COVID-19 pandemic and resulting business closings, economic downturn, and job losses have adversely affected the mental health of people and have led to higher rates of substance abuse. As per the CDC estimates, around 13.3% of Americans initiated or increased substance abuse to cope with anxiety or emotions related to COVID-19, thus, created a high demand for drug testing. However, a nati...

  Endoscopy Visualization Systems Industry Overview The global endoscopy visualization systems market size was valued at USD 21.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2028. Endoscopy is a minimally invasive procedure used for the examination of the internal organs in the body. Visualization systems with advanced technologies can provide superior image quality, which makes them very important in the medical field. In recent years, endoscopic procedures have emerged as a potential adjunctive tool in various medical specialties such as general surgery, gastrointestinal, urology, and others. According to the Centers for Disease Control and Prevention, around 494,000 hysterectomies are performed in the U.S. annually. Approximately 80.0% of the surgeries are done laparoscopically or robotically. Thus, shift towards minimally invasive surgeries and increasing prevalence of cancer, thereby fueling the market growth. The ri...

  Animal Wound Care Industry Overview The global animal wound care market size was valued at USD 960.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. The rising adoption of companion animals and increasing demand for veterinary surgeries are propelling the market. Moreover, the increasing number of vet visits is further propelling the market growth. According to IDEXX Laboratories, Inc., in 2019, there were an estimated 315 million total visits in the U.S. During the COVID-19 pandemic, postponement and cancellation of elective surgeries in animals due to stringent lockdown norms consequently resulted in a decline of postoperative wounds cases, thus impacting the market growth. However, the market for animal wound care has shown V-shaped recovery during the 3rd quarter of 2020 due to the resumption of pet clinic visits and ease of norms. According to IDEXX, U.S. clinic visits increased by 6% in Q4 2020 from the last qua...

  Animal Wound Care Industry Overview The global animal wound care market size was valued at USD 960.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. The rising adoption of companion animals and increasing demand for veterinary surgeries are propelling the market. Moreover, the increasing number of vet visits is further propelling the market growth. According to IDEXX Laboratories, Inc., in 2019, there were an estimated 315 million total visits in the U.S. During the COVID-19 pandemic, postponement and cancellation of elective surgeries in animals due to stringent lockdown norms consequently resulted in a decline of postoperative wounds cases, thus impacting the market growth. However, the market for animal wound care has shown V-shaped recovery during the 3rd quarter of 2020 due to the resumption of pet clinic visits and ease of norms. According to IDEXX, U.S. clinic visits increased by 6% in Q4 2020 from the last qua...

  Mesenchymal Stem Cells Industry Overview The global mesenchymal stem cells market size was valued at USD 2.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.6% from 2021 to 2028. An exponential rise in mesenchymal stem cell (MSC) based research and its implications in the field of regenerative medicine fuel the growth of the market. The constantly evolving landscape of stem cell therapies is also expected to propel investments in the MSC market space; large-scale operational entities are targeting small or emerging players with an operating strategy of acquisition in order to boost their market presence. The strong pipeline of mesenchymal stem cell-based products coupled with emerging applications of mesenchymal stem cells is anticipated to accelerate the market growth. As of 2019, 10 mesenchymal stem cells based products have received approval from regulatory bodies across the world. Moreover, a substantial number of companies are explor...

  Medical Device Regulatory Affairs Industry Overview The global medical device regulatory affairs market size was estimated at USD 4.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2028. This growth can be attributed to rising demand for faster approval processes, a shifting regulatory landscape, and expansion in emerging fields such as therapeutics and diagnostics. Besides, the increasing complexity of medical devices and favorable government initiatives are also supporting the growth of the market for medical device regulatory affairs. Right now, every aspect of the medical industry has been dominated by the COVID-19 pandemic. While the decline in economic activity has reduced revenue streams, demand for products such as ventilators and Personal Protective Equipment (PPE) has increased, mitigating the financial impact. As a result, regulatory agencies granted exemptions and emergency use authorizations quickly. Gather m...

  Viral Vector Production (Research-use) Industry Overview The global viral vector production (research-use) market size was valued at USD 993.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 18.8% from 2021 to 2028. Rapid and extensive R&D in the advanced therapy arena has resulted in the growing employment of viral vectors in research settings. Also, the ongoing COVID-19 pandemic has encouraged investment in this space for vaccine development against SARS-CoV-2, thereby driving the market for viral vector production (research-use). Viral vectors were being studied extensively by research communities well before the COVID-19 pandemic. This is because of their proven efficiency and successful application in gene and cell therapies. With the COVID-19 outbreak, applications of viral vectors were repurposed to manufacture vaccines. Moreover, the technology and platform developers are making significant attempts to simplify the production pro...

  Laparoscopic Power Morcellators Industry Overview The global laparoscopic power morcellators market size was valued at USD 107.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2021 to 2028. The increasing prevalence of uterine fibroids among women globally, the rise in preference for minimally invasive gynecological procedures, as well as technological advancements in surgical devices are the major factors expected to drive the market. Power morcellators are less invasive devices that are utilized during procedures such as fibroid removal or hysterectomy, for cutting tissues into smaller pieces. The market for laparoscopic power morcellators has been moderately impacted by COVID-19 owing to delay or cancellation of numerous elective surgeries, including hysterectomy/myomectomy, as many hospitals closed outpatient facilities in order to limit the spread of the disease and prioritize the treatment of COVID-19 patients. This in turn ...