Medical and Pharmaceutical Industry - Market Research Report

  Patient Temperature Management Industry Overview The global patient temperature management market size was valued at USD 3.2 billion in 2021 and is expected to expand at compounded annual growth rate (CAGR) of 8.8% from 2022 to 2030. Increasing volume of surgical procedures is one of the significant factors impacting growth of the patient temperature management market. Large number of surgical procedures is being performed globally. Estimates from the Texas Heart Institute indicate over 500,000 coronary bypass procedures are performed each year. Administration of local or general anaesthesia to patients before any surgical procedure results in decreased body temperature. Under these circumstances, warming systems are essential to avoid any further intraoperative hypothermia. Adoption of these systems further assists in minimizing the pre andpost-surgical complications and associated discomfort to the patient. Gather more insights about the market drivers, restrains and growth of t

  Patient Temperature Management Industry Overview The global patient temperature management market size was valued at USD 3.2 billion in 2021 and is expected to expand at compounded annual growth rate (CAGR) of 8.8% from 2022 to 2030. Increasing volume of surgical procedures is one of the significant factors impacting growth of the patient temperature management market. Large number of surgical procedures is being performed globally. Estimates from the Texas Heart Institute indicate over 500,000 coronary bypass procedures are performed each year. Administration of local or general anaesthesia to patients before any surgical procedure results in decreased body temperature. Under these circumstances, warming systems are essential to avoid any further intraoperative hypothermia. Adoption of these systems further assists in minimizing the pre andpost-surgical complications and associated discomfort to the patient. Gather more insights about the market drivers, restrains and growth of t

  Contrast Media Industry Overview The global contrast media market size was valued at USD 4.04 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.33% from 2022 to 2030. The growing prevalence of complex comorbidities and long-term diseases has led to an increase in diagnostic imaging tests, including ultrasound, X-rays, and advanced imaging technology such as MRI & CT scans. For instance, in November 2019, GE Healthcare received the U.S. FDA approval for Clariscan, a contrast agent used for macrocyclic MRI. These products help in identifying the need for perioperative scans prior to surgeries and treatment in interventional procedures, which is likely to boost the market growth. According to the National Health Council, in 2020, nearly 157 million people in the U.S. were affected by chronic diseases, out of which around 81 million had multiple conditions, which is indicative of a high incidence of chronic conditions. The prevalence of chronic

  Blood Glucose Monitoring Devices Industry Overview The global blood glucose monitoring devices market size was valued at 11.71 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030. The key drivers of the market are the rising incidence of diabetes and the increasing geriatric population prone to diabetes. The market growth is further propelled by the increasing awareness regarding diabetes preventive care and new product launches. Diabetes is a serious and growing problem globally, where the inefficiency of the pancreas to produce insulin results in an increase in blood glucose levels. According to the International Diabetes Federation, in 2021, around 537 million people were diagnosed with diabetes, this number is expected to increase to 643 million by 2030 and 783 million by 2045. Blood glucose monitoring (BGM) devices are helpful for patients with diabetes in four ways. These devices enable patients and clinicians to detect

  Dental X-ray Industry Overview The global dental X-ray market size was valued at USD 1.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.7% from 2022 to 2030. Dental X-rays are the images of a person’s teeth and the surrounding structures that are used to evaluate oral health. A low level of radiation is used for capturing these images. An increase in preference of people for better aesthetic and oral care and a rise in the burden of dental disorders has led to an increase in the frequency of dental X-ray procedures, which is, in turn, boosting the market growth. According to the U.S. Centers for Disease Control and Prevention (CDC), around 84.9% of children aged between 2 and 17 years, nearly 64.0% of adults from 18 to 64 years of age, and nearly 65.6% of adults aged 65 and above have had at least one visit to a dentist. The routine checkups mainly include crowns, root canals, maxillofacial procedures, bonding treatments, and dental fillings.

  Healthcare Predictive Analytics Industry Overview The global healthcare predictive analytics market size was valued at USD 9.3 billion in 2021 and is expected to grow at a compounded annual growth rate (CAGR) of 24.5% from 2022 to 2030. The rise in demand for advanced analytics systems in the industry to improve patient outcomes as well as for reducing costs has been a major driver of the market. The need for containment of rising healthcare costs without compromising on the quality of care provided has also been a key factor in the growth of predictive analytics. Another factor contributing to the growth is the rise in personalized medicine, which has not only proven to be better for the patient but also reduces the costs of unnecessary treatments, thereby giving the best outcomes. There has been a noticeable increase in healthcare spending across all countries. In the U.S., the National Health Expenditure for 2020 was USD 4.1 trillion, amounting to 19.7% of the nation’s GDP. Japa

  Laboratory Informatics Industry Overview The global laboratory informatics market size was valued at USD 3.21 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. An increase in demand for laboratory automation is expected to fuel the adoption in the coming years. Data generated by laboratories has dramatically risen in the past few decades owing to the rising technological advancements in molecular genomics and genetic testing practices. In addition, the shift of preference toward personalized medicine, cancer genomics studies, and increasing patient engagement requirements is expected to upsurge the demand for lab automation systems. Software solutions are becoming more user-friendly, data is moving to the cloud, and the number of startups in the field of laboratory informatics is on the rise. The cloud is becoming the norm for laboratory informatics software. Informatics providers must now have a cloud and SaaS strategy. In

  Population Health Management Industry Overview The global population health management market size was valued at USD 47.5 billion in 2021 and is expected to expand at a CAGR of 21.9% from 2022 to 2030. The medical industry is rapidly transforming from a paper-based system to a digitized system, accelerating the demand for healthcare IT services. In addition, increasing demand for solutions supporting value-based care delivery by healthcare stakeholders has resulted in a shift from Fee-For-Service (FFS) to Value-Based Payment (VBP) models. The rising demand for effective disease management strategies is also expected to boost the market growth. Due to the COVID-19 pandemic, medical institutions are under tremendous strain, and the healthcare industry throughout the world is being swamped by the high number of patients regularly. In various countries, the rising frequency of COVID-19 has increased the necessity for reliable diagnostic and treatment equipment. Population Health Manage

  Bone Graft And Substitute Industry Overview The global bone grafts and substitutes market size was valued at USD 2.91 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. One of the key factors fueling the growth of the market is the rising incidence of bone and joint disorders. According to the CDC report, the global incidence rate of hip fracture is expected to rise by 240% in women and 310% in men. Osteoporosis is estimated to affect around 200 million women worldwide. Moreover, the rising demand for dental bone grafts is expected to drive the market for bone grafts and substitutes over the forecast period. Bone grafts are widely adopted for orthopedic surgeries. These surgeries are classified as elective surgeries and most of the elective surgeries were postponed or canceled during the COVID-19 pandemic. This resulted in drastically decreasing demand for devices required for orthopedic surgeries, including bone graft and s

  Cryotherapy Industry Overview The global cryotherapy market size was valued at USD 6.39 billion in 2021 and is expected to advance at a compound annual growth rate (CAGR) of 7.2% by 2030. Some of the major factors propelling the growth are rising demand for minimally invasive procedures, high prevalence of skin disorders & chronic diseases, and an increase in demand for cryotherapy in beauty & wellness clinics, fitness centers, and pain management. The market has been adversely impacted by the COVID-19 pandemic. Amid the pandemic, a slowdown in demand and disruption in the supply of cryotherapy products were observed, due to the strategies designed to curb the pandemic. However, the impact of COVID-19 reduced significantly by the end of 2020 in most countries. Some countries were affected by the third wave of COVID-19 and the effect lasted until the third quarter of 2021. The rising prevalence of cancer and chronic conditions, such as rheumatic conditions, arthritis, and fi

  Drug Device Combination Products Industry Overview The global drug device combination products market size was valued at USD 118.13 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.8% from 2022 to 2030. The market is primarily driven by the growing patient and physician preference for minimally invasive procedures and consistent-dosing treatment alternatives. The pandemic positively impacted this market space as the use of certain combination products increased during the different waves of COVID-19. In November 2020, the U.S. Food and Drug Administration has issued an emergency use authorization (EUA) for baricitinib in combination with remdesivir in hospitalized adults and pediatric patients two years of age and older who require supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation for suspected or laboratory-confirmed COVID-19 (ECMO).   Article 117 of the Medical Devices Regulation (MDR) requires manuf

  Medical Digital Imaging Systems Industry Overview The global medical digital imaging systems market size was valued at USD 15.1 billion in 2021 and is likely to expand at 8.1% CAGR from 2022 to 2030. Surging demand for effective early diagnostic methods and widening base of the aging population has been instrumental in driving the market. Technological advancements and increasing investments and funds by governments, especially in developing countries such as India and China, are also poised to stoke the growth of the market over the coming years. Advancements in digital and communication technologies have been augmenting the market. New imaging techniques provide accurate anatomical detail in most diagnostic radiology procedures. This has helped in the expansion of the application of medical digital imaging in exploratory surgery. Gather more insights about the market drivers, restrains and growth of the Global Medical Digital Imaging Systems market Positron emission tomography

  Exoskeleton Industry Overview The global exoskeleton market size was valued at USD 257.9 million in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 18.0% from 2022 to 2030. In terms of volume, the market volume was 8,741 units is projected to expand at a CAGR of 11.0% from 2022 to 2030. The rapidly growing global geriatric population, rising adoption rates of medical devices in different industries such as automobile, military, defense, and construction, and rising incidence of stroke are some of the key driving forces responsible for the growth of the market. Furthermore, the growing incidence rate of Spinal Cord Injuries (SCI) is expected to drive the demand across global markets. As per National Spinal Cord Injury Statistical Center (NSCISC) estimates in 2021, the number of SCI cases in 2019, 2020, and 2021 were 17,730, 17,810, and 10,9000, respectively. Moreover, approximately 296,000 Americans suffer from some form of SCIs. Exoskeleton solutions are