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Increasing consumption of animal-derived protein and dairy products;
Livestock and poultry are major sources of protein and calcium for humans. Animal food products such as beef, veal, dairy products, and eggs are some of the most-consumed food products and are expected to see significant demand increases. The production of meat in developed countries is projected to increase significantly, mainly due to the high growth in Canada and the US. Over the next ten years, pork is set to account for a large share of the total increase in meat production, along with being the fastest-growing meat in terms of consumption. The global consumption of fresh dairy products is expected to rise significantly in the next decade due to rising population and income growth in India and Pakistan. In some regions that are not self-sufficient in terms of dairy products—like Africa, Southeast Asia, and the Middle East—consumption is expected to surpass production, which will lead to increased dairy imports. This increase is expected to be met with milk powders—cheaper to export than liquid milk.
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Growing patient preference for non-invasive and minimally invasive surgical treatments
The demand for minimally invasive procedures has witnessed a significant increase owing to the advantages offered by these procedures over traditional treatment procedures. The key advantages of minimally invasive procedures include fewer operative complications, shorter hospitalization, less pain, smaller and more cosmetic incisions, lower risk of infection, reduced postoperative care, and quicker recovery. Minimally invasive procedures make use of advanced technologies to diagnose and treat various diseases, including cancer. These procedures are used as an effective approach for removing cancer tumors and lymph nodes without scarring.
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Medical cannabis has proven effective in various medical applications, such as reducing nausea caused due to chemotherapy, stimulating appetite in AIDS patients, controlling muscular spasms in multiple sclerosis patients, and reducing intraocular pressure in patients with glaucoma. Owing to their health benefits, governments in various countries are legalizing the use of medical cannabis—Australia (2016), Canada (2015), North Korea, Spain, Portugal (2001), the UK (2006), Germany (2017), Italy, the Netherlands, Israel, and Brazil have all legalized the use of medical cannabis in recent years.
Moreover, in the US, 25 states have legalized medical cannabis, while four—Colorado, Washington, Oregon, and Alaska—have legalized cannabis for medical and recreational use. As medical cannabis is being legalized in several countries/states globally, the demand for the analytical testing of cannabis for ensuring its safety before human consumption has increased in recent years.
According to industry experts, the number of cannabis testing labs is expected to grow at a significant CAGR in the coming years, primarily due to the growing legalization and increased adoption of cannabis testing. Such trends indicate the expected growth in demand for analytical instrumentation, software, and services for cannabis testing in the coming years.
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According to the new market research report “Pen Needles Market by Type (Standard Pen Needles, Safety Pen Needles), Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), Therapy (Insulin, GLP 1, Growth Hormone), and Mode of Purchase (Retail, Non-Retail) - Global Forecast to 2026".
The global market is expected to reach USD 2.2 Billion by 2026 from an estimated USD 1.3 Billion in 2021, at a CAGR of 11.2%.
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Single-cell sequencing (SCS) helps understand the transcriptional stochasticity and cellular heterogeneity in more detail. It assists in the investigation of small groups of differentiating cells and circulating tumor cells. It also demonstrates the heterogeneity of gene expressions, interaction and regulations of gene regulatory networks, characteristics of putative cancer stem cells, gene expression profiles of intracellular compartments, mRNA locations, and allele-specific gene expression. Advancements in single-cell sequencing have improved the detection and analysis of infectious disease outbreaks, antibiotic drug-resistant strains, food-borne pathogens, and microbial diversities in the environment.
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According to the new market research report “Central Fill Pharmacy Automation Market by Product (Equipment (Medication Dispensing System, Automated Medication Compounding Systems, Workflow Management), Service (Process Optimization, Facility Design), Software), Vendor – Global Forecast to 2024″, published by MarketsandMarkets™, the Pharmacy Automation Market is projected to reach USD 656 million by 2024 from USD 381 million in 2019, at a CAGR of 11.5%.
Recent Developments;
- In 2018, TCGRx acquired Parata Systems, to expand the company’s existing growth initiatives with central fill, inventory control, and automated blister card packaging technologies.
- In 2018, ARxIUM, Inc., launched cGMP RIVA IV Compounding system for 503B facilities.
- In 2018, Swisslog Healthcare acquired Talyst Systems, LLC. With the aim of expanding Swisslog’s inpatient and outpatient pharmacy solutions along with the company’s field service network.
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Growth Factors Driving the Market: The In Vivo Toxicology Market growth is driven largely by the increasing pharmaceutical R&D activities, innovations in animal models, the development of exclusive in vivo toxicology tests, and the increasing demand for personalized medicine
Rising demand for humanized animal models:
Humanized animal models are important tools for conducting preclinical research to gain insights into human biology. These models are developed through the engraftment of human cells or tissues, leading to the expression of human proteins in animals.
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The growth of the women’s healthcare market is primarily driven by factors such as the growing incidence of chronic health conditions among women, government initiatives to curb population growth, and growing demand for contraceptives to prevent unintended pregnancies. Moreover, the growing focus on R&D by key players for the development of advanced products is also a major factor in driving market growth.
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The breath analyzers market is technology-driven and is projected to grow at a significant rate in the coming years. Owing to the lucrative potential of the market, a number of players are focusing on developing novel technologies and are continuously introducing accurate and easy-to-use breath analyzers. In August 2019, Y Combinator, an investment company, invested in SannTek Labs to work on a new kind of breathalyzer. This breathalyzer is designed to detect blood alcohol levels as well as the type of cannabis a person has consumed in the past 3 to 4 hours.
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Asia Pacific is expected to grow at the highest CAGR in the orthopedic braces and supports market during the forecast period
According to the new market research report "Orthopedic Braces and Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Neck, Elbow, Hand, Wrist), Category (Soft, Rigid, Hinged), Application (Ligament (ACL, LCL), Preventive, OA), Distribution (Pharmacies) & Region - Global Forecast to 2027", published by MarketsandMarkets™, the global Orthopedic Braces and Supports Market is estimated to reach USD 4.6 billion by 2027 from USD 3.4 billion in 2022, at a CAGR of 5.8% during the forecast period.
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The Growth in Virology Specimen Collection Market is mainly driven by the rising prevalence of viral diseases, the increasing prevalence of human papillomavirus (HPV) and cervical cancer, and the growing number of blood donations.
Rising prevalence of viral diseases and emergence of newer pathogens:
The Zika virus and Babesia outbreaks, alongside announcements for their inclusion in virology specimen collection tests, indicate the need for innovation in virology specimen collection technologies, consumables, and instruments. Other countries have also undertaken initiatives to check for new and emerging diseases. For example, the prevalence of malaria in African regions and the possibility of mosquito-borne transfer of Zika has resulted in mandates for Zika virus screening in the region.
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The medical gas and equipment market has evolved significantly owing to various technological advancements. Factors such as increasing prevalence of chronic diseases, increasing incidence of respiratory diseases as a result of the high prevalence of tobacco use and rising pollution levels, rapid growth in the geriatric population, rising incidence of preterm births, and growing demand for home healthcare are expected to drive market growth in the coming years. Market expansion in emerging countries across APAC and technological advancements are also expected to present a wide range of opportunities.
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The global lateral flow assays market is projected to reach USD 12.6 billion by 2026, at a CAGR of 2.0% during the forecast period. The high prevalence of infectious diseases worldwide, rapid growth in the geriatric population, growing demand for point-of-care testing, and rising use of home-based lateral flow assay devices are the major factors driving the growth of this market. On the other hand, reluctance among doctors and patients to change existing diagnostic procedures and Lateral Flow Assays Market the low accuracy of lateral flow assays are the key restraints.
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The allergy diagnostics market is projected to reach USD 8.2 billion by 2026 from USD 4.8 billion in 2021, at a CAGR of 11.1% from 2021 to 2026. Factors such as, rising environmental pollution levels, high incidence of allergic diseases, increasing funds by organizations in allergy diagnostics are anticipated to drive growth of the allergy diagnostics market.
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The global CRO services market is projected to reach USD 115.1 billion by 2027 from USD 68.3 billion in 2022, at a CAGR of 11.0% during the forecast period. Growth in the contract research organization services market can mainly be attributed to the increasing investment in pharmaceutical R&D, rising number of clinical trials, high cost of in-house drug development (encouraging pharma-biotech companies to opt for outsourcing. Growth in the drugs and biologics market despite the COVID-19 pandemic, the increasing demand for specialized testing services among end users, and the need for novel clinical trial designs for complex cell and gene therapies are also expected to offer a wide range of growth opportunities to players operating in this market.
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The Regenerative Medicine Market growth is driven by rising investments in regenerative medicine research, and the growing pipeline of regenerative medicine products, and the increase in prevalence of chronic diseases, genetic disorders, and cancer.
Growing prevalence of chronic diseases, genetic disorders, and cancer;
Over the last few decades, the incidence and prevalence of chronic diseases such as CVD, cancer, diabetes, ulcers, and genetic disorders such as cystic fibrosis have increased significantly across the globe. Diabetes and obesity can result in the increased incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and surgical wounds, which require treatments and incur exorbitant medical expenses.
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Growth Factors Driving the Market: The Growth in CRO services market can mainly be attributed to factors such as the increasing investment in pharmaceutical R&D, rising number of clinical trials, high cost of in-house drug development (encouraging pharma-biotech companies to opt for outsourcing), and the rising prevalence of orphan and rare diseases (creating new revenue pockets for CROs). Growth in the drugs and biologics market despite the COVID-19 pandemic, the increasing demand for specialized testing services among end users, and the need for novel clinical trial designs for complex cell and gene therapies are also expected to offer a wide range of growth opportunities to players operating in this market.
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