Medical and Pharmaceutical Industry - Market Research Report

  The global   urinary catheters market   size was valued at USD 5.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030. An increase in the number of patients suffering from Urinary Tract Infections (UTIs) and blockages in the urethra, rising cases of tumors in the urinary tract or reproductive organs, and the rapidly growing geriatric population are some of the key factors driving the market growth. A urinary catheter is a partially flexible tube for draining urine from the bladder. The materials that are used in the manufacturing of these catheters include plastic, rubber, and silicon. Doctors recommend the use of urinary catheters in the case of Urinary Incontinence (UI), urinary retention, prostate surgery, or other medical conditions, such as spinal cord injury, multiple sclerosis, or dementia. The COVID-19 is expected to have a positive impact on catheters market. According to National Center for Biotechnology I...

  The   South East Asia advanced wound care market   size was valued at USD 221.28 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.11% from 2023 to 2030. The rising prevalence of chronic diseases, mainly, diabetes and obesity, is one of the key factors leading to an increase in the incidence of chronic wounds such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers. For instance, as per data published by the government of Singapore (Ministry of Health), as of December 2021, a study showed that diabetes contributed to 87% of arterial insufficiency ulcers in the population of Singapore. Similarly, according to IDF Diabetes Atlas, Indonesia ranked 5th in 2019 with around 7.9 million adults aged between 20 and 79 having undiagnosed diabetes. Healing of these chronic wounds requires advanced wound care products, thus, impelling the growth of the market over the forecast period.  The rising prevalence of obesity is another...

  The global   drug-device combination products market   was valued at USD 138.47 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2030. Key factors driving this growth include technological advancements, rising demand for minimally invasive drug delivery systems, increasing prevalence of chronic conditions like diabetes, and a growing elderly population. According to the International Diabetes Federation (IDF), approximately 537 million adults aged 20–79 were living with diabetes in 2021. This number is projected to rise to 783 million by 2045. The IDF also noted that nearly 90% of individuals with diabetes are at increased risk of developing type 2 diabetes. The market is experiencing significant innovation and expansion, fueled by the potential of combination medical products to enhance treatment for various diseases. Breakthroughs in drug delivery technologies—particularly in targeting specific areas and extending...

  The global   antimicrobial resistance (AMR) diagnostics market   was valued at USD 4.60 billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 6.55% from 2025 to 2030. Market growth is primarily driven by the high prevalence of pathogens such as   Streptococcus pneumoniae , MRSA, and   Clostridioides difficile , along with a rising incidence of AMR infections. Additionally, growing demand for advanced diagnostic technologies and increasing regulatory approvals are accelerating market development. For instance, in September 2021, MeMed’s BV diagnostic test—designed to distinguish between bacterial and viral infections in point-of-care settings—received 510(k) clearance from the U.S. FDA. The escalating threat posed by antimicrobial resistance continues to be a key market driver. According to the CDC, approximately 2.8 million AMR infections occur annually in the U.S., while the United States Pharmacopeial Convention estimates that...

  The   U.S. medical billing outsourcing market   was valued at USD 6.28 billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 12.00% from 2025 to 2030. The increasing complexity in handling a high volume of claims and reimbursements has led to notable revenue losses for healthcare providers, thereby driving the demand for medical billing outsourcing services in the U.S. Additionally, the growing patient load and administrative burden associated with managing extensive records and billing responsibilities have prompted healthcare practitioners to seek external support. Hospitals are increasingly outsourcing medical billing functions to manage these challenges more effectively, which is expected to support market growth. Hospitals typically partner with outsourcing firms possessing comprehensive knowledge of the Affordable Care Act, Medicaid, and other healthcare and insurance systems. The industry has also witnessed a surge in outsourcing b...

  The global   medical equipment maintenance market  was valued at   USD 41.90 billion in 2023   and is projected to expand at a   CAGR of 10.0% from 2024 to 2030. The market’s growth is driven by the rising global demand for medical devices, the increasing prevalence of life-threatening conditions requiring diagnostic procedures, and the growing need for refurbished medical equipment. Given the critical role of medical equipment in healthcare delivery, the effectiveness of treatments largely depends on the precision and performance of these devices. A wide range of equipment—such as electrocardiographs, syringe pumps, centrifuges, X-ray machines, autoclaves, and ultrasound devices—are used across healthcare settings for diagnosis and treatment. Due to continuous use, these devices require regular maintenance to address wear, malfunctions, and potential defects. In 2023, imaging equipment led the market, accounting for 36.1% of total market share....