Medical and Pharmaceutical Industry - Market Research Report

  Medical Textiles Industry Overview The global  medical textiles market  size is expected to reach USD 26.21 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.5% from 2021 to 2028. The emergence of new areas of applications of medical textiles, along with the development of new fibers and manufacturing technologies for yarn and fabrics, is expected to bolster the market growth over the forecast period. Medical textile manufacturers are significantly investing in the research and development of new cost-effective methods to protect both the patients and hospital staff from viruses, bacteria, and body fluid invasions in operating room environments. This, in turn, is expected to positively influence the market growth over the forecast period. The COVID-19 outbreak in 2020 has exponentially increased the demand for medical textiles, especially nonwoven fabrics, which are used for the production of face masks, g...

  Spa Industry Overview The global spa market size was valued at USD 47.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.1% from 2021 to 2028. The rise in hectic lifestyle in urban areas, growth in inbound and outbound tourism for the purpose of wellness, rising demand from emerging markets, and awareness are the factors propelling the market growth. The coronavirus (COVID -19) pandemic had a significant impact on the industry, as businesses were forced to close or enforce stringent hygiene requirements and regulations for their workers and visitors. In a March 2020 survey of spa industry professionals worldwide, 31% predicted that the number of spa visits decreased by more than 70% during the pandemic compared to the same period the previous year. Maintaining a physically and mentally healthy lifestyle is expected to increase spa therapies' demand. Moreover, changing lifestyles, rising disposable income, and increasing population are anti...

  U.S. Tissue Diagnostics Industry Overview The U.S. tissue diagnostics market size was valued at USD 2.07 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.91% from 2021 to 2028. The market is collectively driven by emerging solutions pertaining to digital tissue diagnostics, advancements in imaging techniques & increasing affordability of diagnostics, and growth of personalized therapeutics & diagnostics. The use of digital slides has significantly increased in recent years, owing to its associated benefits including flexible magnification and remote access to slides. The growing emphasis on precision medicine is supported by several organizations & companies in the U.S., which is expected to contribute to the market growth. Moreover, the development in genome sequencing techniques and diagnostic tools can be attributed to the growth of personalized medicine over the years. Companies are supporting the development of precision medi...

  Patient Monitoring Devices Industry Overview The global patient monitoring devices market size was valued at USD 37.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.8% from 2021 to 2028. The growth can be attributed to the rising demand for monitoring devices used to measure, distribute, record, and display a combination of biometric values such as blood oxygen saturation level, temperature, and blood pressure. Since the COVID-19 pandemic, quarantining, and social distancing practices are implemented around the world. Due to this many people are avoiding frequent hospital visits. As such times many people require routine monitoring of their oxygen level and temperature at home to keep track of their health. Thereby, demanding monitoring devices at home. Various government initiatives are helping during the outbreak of this pandemic. The FDA has issued Emergency Use Authorization (EUAs) for certain wearable and patient monitoring devices t...

  Mesotherapy Industry Overview The global mesotherapy market size was valued at USD 98.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 14.4% from 2021 to 2028. Some of the factors propelling the market growth are the rise in the adoption of mesotherapy, the increasing middle-aged population concerned about appearance, and the growing number of cosmetic clinics offering mesotherapy treatments. In addition, growing medical tourism for cosmetic procedures is contributing to market growth. The ongoing Covid-19 pandemic is continuing to have a significant impact on the overall aesthetics market, including mesotherapy. The lockdown and travel restrictions are impacting the market negatively. The clinics are majorly not accessible as aesthetic treatment falls under non-essential services, and the disruption in product availability is further widening the impact. In addition, the major fall in consumer footfall has reduced the overall products and ...

  North America Tabletop Kitchen Products Industry Overview The North America tabletop kitchen products market size was valued at USD 11.69 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2028. The rising number of eateries and restaurants has driven the need for various tabletop kitchen products for the preparation, service, and delivery of various kinds of foods. The rapid growth of the real estate industry and a rise in commercial construction in the region will drive the market in the coming years. The growing concept of buffet and self-service in the culinary world is also expected to contribute to the market for tabletop kitchen appliances in the region. In addition, the introduction of low-cost ceramic ware and increasing demand for bone china, a high-end product category, is driving the market growth. Companies in the market are focusing on product launches to increase their market share. For instance, in April 2019, Th...

  U.S. Wine Cooler Industry Overview The U.S. wine cooler market size was valued at USD 326.5 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. The growth in product adoption can be attributed to the increasing consumption of wine in American households. Consumers can be seen buying these and storing the bottles at home, making wine coolers a basic necessity. Product launches have also been driving the growth of the market. For instance, Vinotemp, a Henderson, Nevada-based company building premium wine storage, launched Garage 300-Bottle Dual-Zone Wine Cooler in April 2021. It features enhanced insulation on both the cabinet and the door, added to resist the effects of changing temperatures. Consumers can monitor and set their temperature zones via a central control panel, as well as turn Vinotemp’s BioBlu LED lighting on and off. The adoption of home appliances with multi-functional features is an upcoming trend in the res...

  Dental Laboratory Welders Industry Overview The global dental laboratory welders market size was valued at USD 107.2 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2028. Increasing applications of dental welding in restoring the disturbed function of orofacial structures as well as increasing demand for prosthetics are some of the key factors expected to boost the market growth. Prosthetics play a major role in propelling the demand for dental laboratory welders market through oral rehabilitation, which helps in restoring the oral function and facial form of a patient. Dental welding is a quintessential process in order to connect the same dental alloys or metals to create mental bridges, crowns, and casts for different dental restorations, which is further expected to drive the market. Increasing adoption of dental implants and abutment placement is the major factor driving the market. Dental welding is used in clasp asse...

  High Level Disinfection Services Industry Overview The global high level disinfection services market size was valued at USD 22.39 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.30% from 2022 to 2030. The demand for high level disinfection services is increasing owing to the surge in Hospital-acquired Infections (HAIs), rising incidence of infectious diseases, and increasing number of surgical procedures across the globe. HAIs are nosocomial infections that are more frequent in people undergoing long-term care, most notably surgical treatment. HAIs are most common in the elderly, infants, and patients with weakened immune systems. A variety of causes, including a lack of proper hygiene in healthcare facilities, the use of catheters, and an overuse of antibiotics, might surge susceptibility to HAIs. These types of diseases may often lead to central line-related bloodstream infections, surgical site infections, Urinary Tract Infections (UTI...

  Podiatry Services Industry Overview The global podiatry services market size was valued at USD 4.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 1.9% from 2021 to 2028. The higher income at disposal, preventive approach, and rising awareness regarding foot care are the factors fueling the market growth. The technological advancement and skilled resources, along with the efforts by podiatry associations to raise the adoption and support the practitioners have added to the awareness regarding the services. The growing prevalence of foot problems especially in diabetic and geriatric population which is around 6.3% and 24.0% respectively, and the growing awareness and preventive approach in children’s foot problem are contributing to market growth. Furthermore, the adoption of specific sports foot and ankle services by sportsperson for the management of foot and ankle injuries depicts the market potential for podiatry services in the field of ...

  Smart Stethoscope Industry Overview The global smart stethoscope market size was valued at USD 45.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028. The demand for smart stethoscopes is growing, owing to the surge in prevalence of cardiovascular and respiratory diseases, technological advancements, the advent of COVID-19, and the increasing application of smart stethoscopes in the diagnosis of chronic conditions. The vast number of people suffering from various cardiovascular and respiratory diseases is contributing significantly to the growth of the market for smart stethoscopes. For instance, according to the WHO, heart disease remains the major cause of death in most countries around the world, with 17.9 million people dying each year as a result of cardiovascular diseases. Such a high patient pool leads to a surge in demand for smart stethoscopes. Moreover, the majority of heart diseases are linked to and represent...

  Mesh Nozzle Plates Industry Overview The global mesh nozzle plates market size was valued at USD 28.8 million in 2020 and is estimated to expand at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028. Growing adoption of additive manufacturing processes such as electroforming, demand for high precision products, and the wide range of applications of mesh nozzle plates are some of the key drivers of this market. The COVID-19 pandemic had a notable impact on the market for mesh nozzle plates as the pandemic fueled the demand for micro parts in essential medical devices such as nebulizers and ventilators. In April 2020, Johnson Matthey Piezo Products supplied piezo-ceramic bending actuators, a vital ventilator component, to its customer, HOERBIGER Flow Control, as part of essential products shipment. However, the market was also negatively impacted by supply chain restrictions and a decrease in unit sales of the products. Exposed vulnerabilities in supply chains due to ...

  COVID-19 Saliva Screening Test Potential Industry Overview The global COVID-19 saliva screening test potential market size was valued at USD 2955.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2023. These estimates represent a potential market size for the COVID-19 saliva screening test in a scenario where end-use locations have a 60.0% population attendance (60% of pre-COVID attendance) and testing rate using COVID-19 saliva screening test device is 100.0%. Saliva-based screening for SARS_CoV-2 is gaining traction in the current scenario, as it is easy to use, patient-friendly, and has a shorter test-to-result timeline. Gather more insights about the market drivers, restraints and growth of the Global COVID-19 Saliva Screening Test Potential market   Timeline and scalability challenges pertaining to molecular swab-based SARS-CoV-2 testing are key factors that are prompting consumers to shift to saliva-based testi...

  PPG Biosensors Industry Overview The global PPG biosensors market size was valued at USD 344.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.1% from 2021 to 2028. The use of PPG technology as an alternative heart rate monitoring strategy has increased rapidly, primarily owing to its ease of use, wearing comfort for its consumers, and cost-effectiveness. PPG is more flexible that can be used in a wider range of applications, such as watches, rings, patches, and earbuds. Wearable wellness tracking technologies, such as smartwatches and fitness trackers, have intrigued the attention of consumers in recent years. Smart wearables are integrated with PPG biosensors that are used to measure heart rate, blood oxygen saturation, and blood pressure. For instance, Valencell’s PerformTek PPG biosensor technology is the only continuous heart rate sensor technology proven accurate during virtually any exercise and in virtually any environment. Gathe...