Healthcare Industry Insights

The global eHealth Market size is expected to reach USD 878.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.4% from 2022 to 2030. The transition of the healthcare industry into a digital healthcare system for management and analysis of patient health is expected to be the most vital driver of the market growth. The increasing prevalence of chronic diseases and technological advancements in this field are some of the other driving factors. The rising use of mobile technologies and the internet along with the increasing adoption of home care by patients is expected to propel the market growth during the forecast period. Furthermore, expanding the scope of IT companies in the development of real-time applications and software catering to the healthcare industry is expected to drive demand during the forecast period. Federal agencies such as the European Coordination Committee of the Radiological, Electromedical and Healthcare IT Industry (COCIR), to encourage and popularise eHealth, formulated various policies. The American Health Information Community (AHIC) was chartered in the U.S. to make recommendations leading to the development of eHealth to the Secretary of the U.S. Health Department. Based on these recommendations, efforts are being made to increase awareness levels for currently available mobile applications and wearable remote monitoring devices. The eHealth market products and services are encouraging higher demand for round-the-clock care service, wider and faster access to patient information, reduction of administrative and medical errors, self-monitoring and management by patients, and centralization of the entire healthcare industry chain. In addition, e-health providers have taken on the duty of giving a global overview of the COVID-19 e-health solutions. On the internet, solution suppliers, consultants advising the healthcare system, and healthcare professionals have been urged to submit COVID-19 solutions. The increase in IoT and technological breakthroughs increased desire for mobile technology and the internet, and rising demand for population health management are all factors contributing to the e-health market growth. Related Press Release@ eHealth Market Report eHealth Market Report Highlights The diagnostics segment is expected to witness the fastest CAGR of above 15.0% over the next seven years, owing to the increasing number of patients with at least one chronic condition and the rising prevalence of infectious diseases According to the CDC, more than 50% population of the U.S.-accounting for about 117 million people-suffers from at least one chronic condition requiring routine monitoring mHealth is expected to be the largest and the fastest-growing segment. Favorable government initiatives and increasing collaboration of several healthcare institutions with manufacturers are driving the growth of this segment. For instance, American Telemedicine Association (ATA) collaborated with Philips for increasing the implementation and adoption of telehealth services during the COVID-19 pandemic in 2020 North America is expected to dominate the market throughout the forecast period. The presence of a tech-savvy population base and various current initiatives by the American Health Information Community (AHIC) is expected to be the drivers of this growth GE Healthcare and Microsoft expanded their long-standing partnership in April 2020 to introduce a cloud-based COVID-19 patient monitoring software for health systems, which will further boost the e-health sector growth

The global Breast Cancer Diagnostics Market size is expected to reach USD 6.8 billion by 2028, according to a new study by Grand View Research Inc. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028. The growth is largely attributable to the increasing geriatric population exposed to the risk of breast cancer and early detection coupled with increasing awareness about breast cancer. The introduction of 3D mammography or digital breast tomosynthesis, which is more accurate than 2D mammography, supports market growth. This advanced technology can detect 40.0% more cancers than 2D mammograms and reduce patient recalls. Rapid technological advancements are a major factor expected to drive the market over the coming years. Companies are adopting strategies that allow them to use their resources to aid in the development of new products, as well as enhance their supply chain. In November 2019, Exact Sciences Corporation announced the acquisition of Genomic Health, which was expected to help enhance the company’s market position and offerings by acquiring its product portfolio. In January 2021, Hologic Inc. announced that it has agreed to acquire Biotheranostics for approximately US$ 230 million. Biotheranostics is a commercial-stage molecular diagnostics provider for breast and metastatic cancers. The increasing launch of predictive and companion diagnostic tests for breast cancer is expected to boost the market growth. Recent launches in the segment include BRACAnalysis CDx by Myriad Genetics, which received FDA approval in 2018 as breast cancer companion diagnostics. In May 2019, QIAGEN introduced therascreen PIK3CA RGQ PCR Kit as a companion diagnostic for Novartis proprietary PIQRAY in guiding treatment decisions from tissue and liquid biopsy. In January 2019, the Fujifilm Holdings Corporation introduced its Tomosynthesis Biopsy option for ASPIRE Cristalle mammography system. This technique was expected to enable physicians to detect breast cancers more efficiently compared to others by providing an enhanced 3D image and a digital mammogram. However, there are specific risk factors associated with these imaging procedures. They involve administering high doses of fluorescent and barium contrast agents, as well as radiation exposure in the case of imaging and endoscopic procedures, which can cause several adverse effects such as nausea or diarrhea. The risks of ionizing radiation exposure associated with the use of CT, MRI, and X-rays, as well as the use of radioactive tracer injections in PET can limit the adoption of such screening procedures. Therefore, factors such as adverse effects of imaging act as a challenge for the companies in this market. Related Press Release@ : Breast Cancer Diagnostics Market Report Breast Cancer Diagnostics Market Report Highlights The imaging segment held the largest revenue share in 2020 and the blood tests segment is expected to grow at the fastest rate By product, the instrument-based products segment accounted for the largest revenue share in 2020 due to government initiatives such as mandatory screening in developed countries such as the U.S., Canada, and the U.K. for women above 45 years of age, increasing the overall testing and screening of breast cancer The platform-based products segment is expected to witness the fastest growth over the forecast period. These tests are mostly used for assessing the efficacy of chemotherapy and targeted therapy in women By application, the diagnostic and predictive segment dominated the market in 2020 and the prognostic segment is expected to witness the fastest CAGR over the forecast period due to increasing collaborations and efforts for advancements in diagnostics The hospitals and clinics segment dominated the market in 2020 The medical labs and diagnostics centers segment is expected to witness the fastest CAGR over the forecast period due to an increase in platform-based testing such as NGS, and PCR

The global Cryotherapy Market size is expected to reach USD 8.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.3% from 2021 to 2028. The introduction of advanced cryotherapy devices, increasing R&D investments, and the growing prevalence of chronic conditions such as cancer and arthritis are expected to propel market growth. Approval and introduction of technologically advanced cryotherapy devices by key players operating in the space are anticipated to significantly support market growth during the forecast period. For instance, in June 2020, Beaver Visitec International (BVI), a U.S.-based ophthalmic devices manufacturer, launched its new CryoTreq, a handheld cryo-surgery device in the European market. This newly launched device is approved for the treatment of retinal tears and detachments. Similarly, in April 2019, Channel Medsystems, Inc., received the FDA approval for its Cerene Cryotherapy Device intended for the treatment of heavy menstrual bleeding. This newly approved device delivers cold therapy to freeze the lining of the uterus to significantly diminish future menstrual bleeding. Furthermore, the high prevalence of various chronic conditions such as cancer, arthritis, pain, among others, and increasing awareness about the usage of cold therapy for their treatment has further fueled the market growth. As per the Globocan estimates, in 2020, around 19,292,789 new cases of cancer were diagnosed, globally. Also, as per the CDC estimates, in 2020, around 63.0 million adults were suffering from arthritis in the U.S. This number is expected to reach around 78.0 million by 2045. Related Press Release@ Cryotherapy Market Report Cryotherapy Market Report Highlights By therapy type, the cryosurgery segment held the largest market share in 2020. This high share can be attributed to its high demand for the treatment of abnormal tumors The cryogun segment held the largest revenue share in 2020 attributed to the high usage of these devices in the treatment of various oncology and dermatological procedures Based on application, the oncology segment dominated the overall market in 2020 owing to the rising prevalence of cancer and growing awareness about cryotherapy-based treatment approaches High cost of cryotherapy devices and procedures is likely to limit its adoption in underdeveloped economies, thus impeding market growth North America held the largest revenue share in 2020 due to the high adoption of advanced devices, favorable reimbursement scenarios, and local presence of leading players In Asia Pacific, the market is expected to witness significant growth during the forecast period. This high growth can be attributed to the presence of a huge target population and increasing initiatives by dominant players to facilitate access to novel products

The global Endodontic Devices Market size is expected to reach USD 2.34 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 4.2% during the forecast period. Growing dental tourism, the prevalence of dental caries, and high dental care expenditure are some of the key growth drivers. According to the American Dental Association (ADA), the U.S. dental expenditure was USD 124 billion in 2016 with an increase of 3.3% from 2015. The role of endodontists has evolved during the past decade due to the introduction of sophisticated techniques and devices in dental practice. According to a research study published by the ADA, the number of dentists in the U.S. is projected to grow rapidly leading to increased procedures in the country. Many factors contribute to poor oral health leading to dental decay or dental infection resulting in the need for endodontic treatment. The increase in untreated tooth decay, rising consumption of sugar, tobacco and alcohol, lack of good oral hygiene and regular dental check-ups, and a lack of fluoridation in water supplies or the use of a fluoride dentifrice, are some of the key factors driving the endodontic devices market. According to the U.S. Oral Health Division of the U.S. Department of Health & Human Services, more than 27% of adults and 20% of children have at least one untreated tooth decay. Related Press Release@ Endodontic Devices Market Report Endodontic Devices Market Report Highlights Based on the type of devices, the market is segmented into instruments and consumables. Of these, endodontic motors held the majority of market share in 2018, as it is a widely adopted device due to its procedural efficiency In 2018, dental hospitals held the largest market share of the end use segment. The rise in government funding and reimbursement coverage are some key factors driving the growth. North America held the largest endodontic devices market share in 2018 and is likely to retain its position over the forecast period, due to the rise in dental expenditure and number of dental practices Asia Pacific is expected to witness the fastest growth in the forthcoming years due to rising dental tourism and improving healthcare infrastructure in the region Some of the key market players are Danaher, Dentsply Sirona, and FKG Dentaire, among others Endodontic device manufacturers partner with endodontists to prepare a marketing plan to enhance their marketing efforts. The American Association of Endodontists (AAE) offers such marketing tactics to AAE members helping them gain more access to their target audience.

The global Clinical Trial Biorepository And Archiving Solutions Market size is expected to reach USD 6.0 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.2% from 2021 to 2028. Some of the key players in this industry are Brooks Life Science, Patheon, Precision for Medicine, Inc., Medpace, LabCorp Drug Development, ATCC. This is largely due to the increasing importance of biological sample management in clinical trials and the desire to streamline the collection and reporting of data. Biorepositories have entered the Big Data era, which requires new IT technologies, artificial intelligence (AI) techniques, and machine learning and deep learning tools and algorithms. These features help to the paradigm shift toward data-driven science by higher-quality biobanking data. Cloud storage and other new data storage technologies help to solve the problem of limited local storage capacity. New IT solutions such as the sample/data negotiator and locator, which are part of the BBMRI-ERIC infrastructure, make it easier to discover samples and data that meet specific criteria. This new level of biobanking activity contributes to basic research, translational research, and therapy of a wide range of human disorders, including cancer, CVD rare diseases, diabetes, and neurodegenerative diseases. Besides, the COVID-19 pandemic has created opportunities for local players. To enhance their foothold in the market, key companies are adopting various plans and policies to gain a greater market share. The important step that key players can incorporate is to partner with relevant third-party vendors. It can be achieved by proper communication and adjustments in the frequency and volume of clinical trial biorepository and archiving solutions. Related Press Release@ Clinical Trial Biorepository & Archiving Solutions Market Report Clinical Trial Biorepository & Archiving Solutions Market Report Highlights By service, biorepository services dominated the market with a revenue share of 67.2% in 2020. This can be attributed to the rise in R&D of advanced therapies such as personalized medicine and the requirement of high-quality biorepository practices for the collection, processing, testing, and storage of samples In terms of phase, the phase III segment dominated the market with a revenue share of 52.1% in 2020 Based on product, clinical products held the largest share of 63.1% in 2020. This can be attributed to the fact that most clinical trial protocols depend largely on the analysis of biological specimens to meet the study endpoints Asia Pacific is anticipated to register the fastest growth rate of 15.3% over the forecast period. The shift of clinical trial sites from Western regions, such as Europe and North America, to Asia Pacific is a major driver for the regional market

The global Clinical Trial Kits Market size is anticipated to reach USD 2.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.5% from 2021 to 2028. The factors driving market expansion include globalization of clinical trials, increasing demand for remote services, and rising clinical trial complexity. Remote clinical trial services are becoming increasingly essential in terms of patient retention, satisfaction, and safety. To enhance their capabilities, pharmaceutical companies have created a relationship with global logistics partners to provide direct-to-patient services. These services provide participants with the flexibility and convenience of participating in the trials while remaining at home. COVID-19 pandemic has affected the market which resulted in slowing down the trial process. The COVID-19 pandemic is rapidly boosting advances in medical practices that allow people to connect with the healthcare system remotely. This effort of examining the patients at their homes has raised interest in at-home sample collection and testing. Such services offer convenience and minimize potential exposure to SARS-CoV-2. Companies began to move to provide direct-to-consumer testing digital services. More aspects of the testing process, from test ordering to sample collection, are already making their way into patients' homes. Besides, regulatory authorities have instantly given sponsors guidelines to resolve issues that have arisen during ongoing clinical studies. Changes such as the use of telemedicine, the elimination of non-essential visits and laboratory assessments, as well as diagnostic testing and sample collection, have allowed many studies to continue while ensuring patient safety during the pandemic. Related Press Release@ Clinical Trial Kits Market Report Clinical Trial Kits Market Report Highlights The logistics segment dominated the market and accounted for the largest revenue share of 54.9% in 2020. This is due to the increasing demand for services to simplify the logistics process in clinical trials The phase III segment dominated the market and accounted for the largest revenue share of 53.4% in 2020 as phase III trials require a large number of participants North America dominated the market in 2020 owing to favorable government support and the existence of a large number of companies offering innovative services in the U.S. In Asia Pacific, the market is projected to witness the highest CAGR of 9.9% over the forecast period as the region is continuously growing in terms of clinical trials due to the vast population and developing technology

The global Surgical Clips Market size is expected to reach USD 2.3 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 26.7% from 2021 to 2028. An increasing number of surgical procedures, the growing geriatric population, ease of operations, cost efficiency, and rising adoption of minimally invasive surgeries are the factors expected to contribute to the market growth. The presence of a large number of players at the global and local levels and their growth strategies to enhance product portfolios are likely to boost the market growth. The adoption of surgical clips not only in laparoscopic procedures but also in open surgeries is expected to boost their demand in the upcoming years. Minimized incision size during surgeries and improved recovery time are the leading factors fueling the adoption of these devices among surgeons. The rise in robotic surgery procedures due to their high precision and surgical accuracy is also anticipated to play an important role in the market growth. The market witnessed a slight decline during the COVID-19 pandemic due to canceling elective procedures. With the surgical procedures resuming in most of the regions with strict guidelines and an increasing number of vaccinated people, the market is likely to stabilize under strict guidelines by early 2022. Related Press Release@ Surgical Clips Market Report Surgical Clips Market Report Highlights By material, the titanium segment accounted for the largest revenue share in 2020 due to its tensile strength, no deterioration property, inexpensiveness, and compatibility with imaging modalities Based on surgery type, the general surgery segment held the largest share in 2020 In terms of end user, hospitals grabbed the largest share in 2020 owing to the rise in the number of cases and preventive surgeries performed in this end-user setting Asia Pacific held the largest share in 2020 due to the rising adoption of surgical clips over traditional ligation techniques and the increased geriatric population

The global Dental Caries Detectors Market size is expected to reach USD 512.0 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.9% from 2021 to 2028. Some of the key players in this industry are Dentsply Sirona, Kavo Dental, Quantum Dental Technologies, Inc., Acteon Group, Hu-Friedy Mfg. Co. Dental caries detection devices assist in evaluating enamel structure for conditions like caries or micro-fractures in the tooth before sealant placement. Caries detection devices assist in the primary detection of dental caries, which might lead to early diagnosis by the dental professional. Factors like the increasing prevalence of caries, increasing awareness about oral health, and rising advancement in dental diagnostic are expected to propel the market growth. Dental caries is the most prevalent and preventable dental condition, which if identified early, can be treated by non-invasive techniques. According to the WHO, as of 2017, around 2.3 billion people suffer from caries of permanent teeth and more than 530 million children suffer from caries of primary teeth. Changing lifestyle, high sugar consumption, and less awareness about oral hygiene in low- and middle-income countries are the most common causes for the prevalence of caries. Moreover, technological advancement in caries detection devices that assures high accuracy and sensitivity for diagnosing caries lesions is expected to propel market growth. For instance, Digital Imaging Fiber Optic Trans-illumination technique has an accuracy of 90% and the images can be stored digitally by the professionals, assisting in providing quality treatment to the patient. In the light of COVID-19, the global market was hampered as the footfall of patient appointments for surgical treatments was temporarily suspended. However, since the governments in many countries have allowed resuming elective surgical procedures, clinics have also started orthodontic procedures again by adhering to strict Covid-19 protocols. Moreover, many dentists believe that there will be a surge in oral care and dental treatments post-Covid-19 crisis and this is expected to propel the market growth. Related Press Release@ Dental Caries Detectors Market Report Dental Caries Detectors Market Report Highlights Based on product, laser fluorescent caries detector held the largest market share in 2020 as it is the most opted method owing to its ability to diagnose occlusal caries lesions in permanent teeth and enamel and dentin caries By end-use, dental clinics held the largest share in 2020 as they are readily adopting an advanced diagnostic system to treat dental caries North America dominated the global market in 2020 owing to the increasing demand for new technologies, a large pool of key players, rising prevalence of dental disorders, and advanced healthcare infrastructure Asia Pacific is expected to register the highest CAGR over the forecast period due to the rising prevalence of dental caries and the presence of key players

The global Blood Ketone Meter Market size is expected to reach USD 501.5 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.7% from 2021 to 2028. Some of the key players in this industry are Abbott Laboratories, APEX Biotechnology Corporation, TaiDoc Technology Corporation, EKF Diagnostics, Nova Biomedical, KETO-MOJO. Reimbursement scenario and favorable health insurance are significant factors that are anticipated to surge the demand for blood ketone meters. Technological advancements in Type 1 Diabetes care lead to the increasing preference for automated devices among individuals that aid in reducing disease burden. Diabetes prevalence is increasing worldwide, due to which the number of hospital admissions with patients suffering from complications, including diabetic ketoacidosis (DKA), is also rising. DKA is a severe and life-threatening complication of diabetes. This disease is more common among people with type 1 diabetes and affects around 30 million people across the U.S. Lifestyle changes, rapid urbanization, increased life expectancy, and dietary changes are the major causes of diabetes. The rise in the geriatric and obese population across the globe is expected to boost the growth of the market. As per the WHO, by 2050, the world’s population aged 60 years and above is likely to reach 2 billion by 2050. Similarly, as per the American Diabetes Association, one-third of U.S. adults aged 65 and above had diabetes in 2017. Thus, a rise in the number of adults with diabetes is anticipated to boost the demand for blood ketone meters during the forecast period. An increasing number of hospital admissions owing to the rising cases of DKA in developing as well as developed nations are estimated to foster the market growth. According to a Diabetes Care Study, DKA causes approximately 200,000 hospitalizations each year in the U.S. Rising hospital admissions eventually lead to an increase in healthcare costs, thereby fueling the market growth. Related Press Release@ Blood Ketone Meter Market Report Blood Ketone Meter Market Report Highlights By product type, the blood glucose and ketone monitoring segment held the second-largest share in 2020 due to the increasing launch of blood glucose and ketone meters Based on application, the veterinary segment is expected to witness considerable growth during the forecast period due to the increasing application of blood ketone meters among animals The hospital end-use segment captured the largest share in 2020 due to the increasing number of hospitalizations every year North America held the largest market share in 2020 due to the rising healthcare expenditure and increase in the healthcare spending The presence of local and international players and the increasing prevalence of type 1 and type 2 diabetes has led to the surging demand for blood ketone meters in North America