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Coronavirus Infection Market - Forecast, 2022-2027

The Coronavirus Infection Market Size is estimated to reach $191.8 billion by 2027 and it is poised to grow at a CAGR of 7.6% over the forecast period of 2022-2027. Corona Virus infection is caused by SARS -CoV-2 Virus from the largest category of coronavirus. It was discovered in December 2019 in Wuhan, China hence it is popularly known as COVID-19. The Covid 19 pandemic challenged the healthcare industry in terms of policy, risk management, supply chain management and healthcare infrastructure. Coronavirus infection shows symptoms like fever, cough, tiredness and difficulty in breathing which happens in chronic bronchiolitis, owing to common symptoms and changing nature of the coronavirus make it difficult to detect at the first stage of the pandemic. To diagnose coronavirus infection nucleic acid amplification tests like polymerase chain reaction (PCR) and antigen test are developed. Severe infection of coronavirus shows severe acute respiratory syndrome (SARS), with respiratory tract infections that cause pneumonia. At the end of May 20, 2022, coronavirus infection cases and deaths are rising in the United States and marked 1 million deaths. Such increasing prevalence of coronavirus infection helps to drive the Coronavirus Infection Market size over the forecast period 2022-2027.

Coronavirus Infection Market Report Coverage

The report: “Coronavirus Infection Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments in the Coronavirus Infection Market. By Diagnosis: Serological test, Chest computed tomography (CT), Magnetic Resonance Imaging (MRI), Antigen Test, Polymerase Chain Reaction Test (PCR) and Others. By Drugs: Remdesivir (Veklury), Ritonavir, Paxlovid, Molnupiravir and Baricitinib.By Therapy: Immune-based Therapy, Anti-inflammatory Therapy and Others. By Healthcare Equipment: PPE kit (Personal Protective Equipment), Diagnostic Tests, Surgical-Mask, Sterilizers, Ventilators and Others.By Specimens: Nasal, Nasopharyngeal, Blood and Others.By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia and New Zealand and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of the World (the Middle East and Africa).

Key Takeaways

Geographically, North America held a dominant market share in the year 2021, owing to the increasing prevalence of coronavirus infection and increase in mortality owing to covid cases. 

The Coronavirus Infection Market size is predicted to increase owing to the increasing prevalence of covid disease and increasing research and developments to provide new drugs and technologies by key market players to consumers and healthcare. However, the high cost of research and development may limit market growth over the forecast period 2022-2027.

A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Coronavirus Infection Market Report.

Coronavirus Infection Market: Market Share (%) by Region, 2021

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Coronavirus Infection Market Segmentation Analysis- By Diagnosis

Coronavirus Infection Market based on diagnosis can be further segmented into Serological tests, Chest computed tomography (CT), Magnetic Resonance Imaging (MRI), Antigen tests, Polymerase Chain Reaction Test (PCR) and Others. The Polymerase Chain Reaction Test (PCR) segment held a dominant Coronavirus Infection market share in the year 2021, owing to the high efficiency and accurate result provided by the Rapid PCR test. According to the Indian Council of Medical Association (ICMR), the accuracy rate of PCR testing for Covid-19 is about 98.1%, of the positive nasal sample. Such high accuracy result of Covid-19 detection by PCR analysis develop rapid advancement in healthcare products manufactures company. However, the antigen test is estimated to grow with the fastest CAGR rate of 8.3% over the forecast period. Owing to the easy handling and quick results rapid antigen testing is popular among health care professionals. Rapid antigen testing is cost-cutting technology and helpful to perform in the mass population to quickly detect corona infection and enables to take further measures to limit and treat infections. Recently in May 2022, Nanomix obtained a CE mark for its covid-19 rapid point of care (POC) antigen panel. Also, key market players like Abbott, Access Bio, ACON laboratories and others are working on innovative product launches to diagnose corona infection; and several products have been approved by FDA. Such factors help to grow Coronavirus Infection Market size over the forecast period 2022-2027.

Coronavirus Infection Market Segmentation Analysis- By Drugs

The Coronavirus Infection Market based on drugs can be further segmented into Remdesivir (Veklury), Ritonavir, Paxlovid, Molnupiravir and Baricitinib. The Remdesivir (Veklury) segment held a dominant Coronavirus Infection market share in the year 2021. This is owing to the increasing use of Remdesivir to treat coronavirus infection in adults above age 12. Remdesivir act as a nucleoside analog that inhibits RNA-dependent RNA polymerase (RdRp) of coronavirus including SARS-CoV-2. It is approved by FDA and EUA to treat coronavirus infection, also Remdesivir with a combination of Baricitinib has been granted by FDA and EUA for clinical use. As a result of increasing hospitalization owing to a hike in coronavirus cases demand for Remdesivir is hike respectively. Such increasing use of Remdesivir helps to drive Coronavirus Infections Market. However, Baricitinib is estimated to grow with the fastest CAGR rate of 8.1% over the forecast period 2022-2027. The medicine Baricitinib is used to treat coronavirus infection in hospitalized patients aged 2 to less than 18 years of age with the FDA's approval and an Emergency Use Authorization (EUA). This drug is more helpful in changing the nature of coronavirus infection cases in children and teenagers by limiting pneumonia, bronchiolitis, respiratory tract infection, and Severe Acute Respiratory Syndrome. It is found that the use of Baricitinib and Remdesivir is cost-effective compared to using Remdesivir alone, as per a research article published in Springer. Such factors demand the use of Baricitinib for the treatment of coronavirus infection which helps to grow the coronavirus infection industry over the forecast period 2022-2027.

Coronavirus Infection Market Segmentation Analysis- By Geography

The Coronavirus Infection Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant Coronavirus Infection market share of 34% in the year 2021. This is owing to increasing cases of coronavirus infection and an increase in mortality by this disease. There are 82,459,419 cases reported of coronavirus infection in the U.S.A with 130,452 cases reported on a single day of May 25 2022, and a total number of deaths are 994,931 occurred to coronavirus infection as data published by World Health Organisation (WHO). Also, the cases of coronavirus infection are hiked by 13% in May 2022, according to Reutres Graphics report. Such increasing cases of coronavirus infections and high rate of mortality help to drive North America Coronavirus Infection Industry.  Furthermore, the Asia-Pacific is estimated to grow with the fastest CAGR over the forecast period 2022-2027. This is the result of the recent outbreak of coronavirus in countries like China, on 7th March 2022, China reported 268 new cases of coronavirus infection within 24 hours. In India on 23 May 2022, 94 deaths by coronavirus infections were reported. According to Johns Hopkins University case fatality ratio in India is observed at 1.2%. According to the Health Minister of Maharashtra and Karnataka 4th wave of Covid-19 will hit between June 2022 to July 2022 and last till September 2022 as the increasing rate of coronavirus infection noted in these two states. Up to 26th May 2022, 192,820,355 doses of covid-19 vaccines were completed in India. Owing to such an increase in the number of coronavirus infections, mortality rate and vaccination help to grow the Asia-Pacific Corona Virus Infection Market over the forecast period 2022-2027.

Coronavirus Infection Market Drivers

Changing Nature of Corona Virus and Increasing Number of Deaths is Driving the Market Growth.

Since the emergence of Covid-19 the nature of the virus has been changing its nature as its genome is encoded in RNA like HIV and Influenza, a mutation that occurred in SARS-CoV-2 is the result of errors that occurred during the copy of RNA which leads to the production of different kind of enzymes. For instance, as per Lucy Van Dorp, a computational geneticist at University College London, a Sample of two SARS CoV-2 viruses collected from anywhere in the world shows a difference of 10 RNA letters out of 29903. As of May 2022, CDC listed only one variant of coronavirus as a variant of concern, that is the ‘Omicron’ variant. As per a research article published in WebMD, there are 99.9% cases of coronavirus reported in the United States and daily deaths crossed 2200 deaths in January 2022. Such an increasing number of deaths with new variants of coronavirus helps to drive the Coronavirus Infection industry over the forecast period. 

Innovative Products Launched by Key Market Players and funding Provided by Governments and Organizations are Aiding the Market Growth.

Coronavirus infection spread over community-level with record break cases and deaths within a short period of time. There were 37 million Covid-19 cases and 1 million deaths were reported globally between October to December 2020. Nearly half of these cases (48%) and deaths (55%) continue to be reported in the Region of the Americas with the United States of America, Brazil and Argentina accounting for the greatest numbers of new cases and deaths in the region. Numerous academic institutions, governmental research facilities, and pharmaceutical firms have made significant financial investments in R&D to lessen the mortality rate and the effects of diseases including pneumonia, bronchiolitis, respiratory tract infections, and severe Acute Respiratory Syndrome. The International Monetary Fund $1 trillion for an unprecedented number of emergency financing requests for the Covid 19 relief fund. On 18 May 2022, WHO contribute a total fund of 3.35 billion for the vaccine, therapeutics, diagnostics, health systems and response. In February 2022, Cipla Health launched Naselin Anti-Viral Nasal Spray with Povidone-Iodine to protect against coronavirus and respiratory tract infection. Also in the same month, Glenmark Pharma and SaNotize Research launch Nasal Spray for Covid-19 treatment in India. Such a new launch of products and an increase in healthcare funding for diagnosis, treatment and prevention of covid-19 help to drive the market.

Coronavirus Infection Market Challenges 

High Treatment Costs and Shortages of Essential Medical Supplies Limit Market Growth.

When a patient needs life support like a ventilator, the expense of hospitalization and medication is generally high. As coronavirus is a highly contagious illness that spreads through contact with infected people and the air, it has expanded quickly throughout the world and put a strain on the healthcare sector. The situation is made worse in nations like India where there are just 0.5 beds per 1,000 inhabitants, which is extremely low compared to other developing nations. The price inflation is also brought on by the increased demand for oxygen tanks and medications like Remdesivir as well as those products' limited supply. According to a January 2022 article in Down to Earth Organization, the average cost of Covid-19 treatment was INR112,179 in government hospitals and INR 297,577 in private hospitals. Prior to the pandemic, the cost for all symptoms combined, such as fever, respiratory infection, chest pain, and breathlessness, was only INR 4,622 in government hospitals and INR 28,932 in private hospitals. Therefore, the market is facing difficulties as a result of the inflation in drug prices. Over the projection period of 2022–2027, the Coronavirus Infection & treatment industry may be hampered by such high mortality and treatment costs.

Coronavirus Infection Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Coronavirus Infection Market. The top 10- Coronavirus Infection Market companies are- 1. Altimune Inc.2. Moderna Inc.3. Gilead Sciences4. Novavax Inc.5. Inovio Pharmaceuticlas6. AbbVie7. Regeneron Pharmaceuticals8. GlaxoSmihKline Plc.9. Co-Diagnostics10. Steris Healthcare

Recent Developments

In March 2022, Moderna entered into a strategic partnership with the Australian Government to establish a state-of-art, domestic mRNA vaccine manufacturing facility in Australia. The new center provides access to a domestically manufactured portfolio of mRNA vaccines against respiratory viruses, including Covid-19, seasonal influenza, respiratory syncytial virus (RSV) and other potential respiratory viruses. 

In March 2021, Altimmune Inc. collaborated with Lonza to expand the production of AdCOVID -a single-dose intranasal vaccine for COVID-19. AdCOVID activates systemic immunity (neutralizing antibodies and T cell responses) and mucosal immunity in the respiratory tract which has been proved in preclinical studies.

In March 2021, Gilead Sciences and Merck entered into an agreement to co-develop and co-commercialize long-acting treatment in HIC than combine Gilead’s investigational capsid inhibitor, lenacapavir and Merck’s investigational nucleoside reverse transcriptase translocation inhibitor, islatravir, into a two-drug regimen with the potential to provide new, meaningful treatment options for people living with HIV. 

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Neurodegenerative Disease Market - Forecast(2022 - 2027)

The Neurodegenerative Disease Market size is estimated to reach $49,218 million by 2027. Furthermore, it is poised to grow at a CAGR of 3.9% over the forecast period of 2022-2027. Neurodegenerative diseases are a set of brain disorders that cause the structure and function of neurons in the central nervous system (CNS) and peripheral nervous system (PNS) to deteriorate over time (PNS). Several drugs are currently available to help people lessen physical or mental symptoms and improve their quality of life. Furthermore, researchers are concentrating their efforts on developing molecular diagnostics, particularly biomarkers and imaging spectroscopy, in order to detect and diagnose neurodegenerative illnesses at an early stage and halt their progression. The impact of COVID-19 on the neurodegenerative disease market is projected to be significant, as the pandemic has disrupted clinical trial, research and development, and pipeline product workflows, resulting in relatively modest growth during the pandemic despite a solid late-stage product pipeline. Despite the pandemic the market is forecasted to gradually recover and grow in the years of forecast. The companies with higher funding and revenue are investing more into R&D with development of unique neurodegenerative disease drugs for the various neurodegenerative indications while expanding to new geographic locations through its sales channel expansion. Recently, companies are focusing on making continuous investment across the business to in order to build and maintain the pipeline of new drugs for therapeutics. Companies are also predicted to acquire, grow the foreign market revenue and continue to get timely regulatory approvals. Rising prevalence of Alzheimer disease, increasing public awareness, and a strong product pipeline for neurodegenerative disease treatment are some of the factors driving the drug Industry forward in the projected period of 2022-2027.

Report Coverage

The report: “Neurodegenerative Disease Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Neurodegenerative Disease Market.

By Drug Class- N-Methyl-D-Aspartate (NMDA) Receptor Antagonists, Acetylcholinesterase (AChE) Inhibitors, Dopamine Agonists and Antagonist, Monoamine Oxidase B (MAO-B) Inhibitor, Catechol-O-Methyltransferase (COMT) Inhibitor.

By Indications- Parkinson’s Disease, Huntington Disease, Alzheimer’s Disease, Amyotrophic Lateral Sclerosis, Multiple Sclerosis, Spinal Muscular Atrophy (SMA) and Others.

By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

Geographically, North America held a dominant market share in the year 2021. The growing geriatric population in the US is increasing the prevalence of neurodegenerative diseases as age is the best known risk factor for such diseases. The geriatric population was estimated to be around 65 million in 2020. This is projected to increase by 18 million between 2020 and 2030 and it is estimated that approximately 1 in every 5 Americans will be 65 or more by 2030..

The surge in neurodegenerative diseases in the US owing to the rising geriatric population is increasing the demand for effective neurodegenerative disease therapies for treating the disease and suppressing symptoms. In addition, it has also resulted in an increase in public R&D expenditure towards drug research, which will further contribute to the market growth. For instance, the Federal Alzheimer's and Dementia Research Funding increased from $2.8 billion in 2019 to $3.2 in 2021.

A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Neurodegenerative Disease Market Report.

Neurodegenerative Disease Market- Geography (%) for 2021

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Neurodegenerative Disease Market Segmentation Analysis- By Drug Class

The neurodegenerative disease market based on drug class can be further segmented into N-Methyl-D-Aspartate (NMDA) Receptor Antagonists, Acetylcholinesterase (AChE) Inhibitors, Dopamine Agonists and Antagonist, Monoamine Oxidase B (MAO-B) Inhibitor, Catechol-O-Methyltransferase (COMT) Inhibitor. Immunomodulators held a dominant market share in the year 2021. Immunomodulators provides very effective therapy options for a variety of autoimmune and neurodegenerative illnesses. Furthermore, the growing presence of important companies is likely to raise patient and physician awareness of the benefits of immunomodulators. As they strive to obtain a competitive advantage in the market, they are developing novel immunomodulators to treat a variety of chronic conditions.

However, Vesicular Monoamine Transporter 2 (VMAT2) Inhibitors is estimated to be the fastest-growing, with a CAGR of 13.3% over the forecast period of 2022-2027. It is owing to increase in number of patients with bipolar diseases, schizophrenia, and Huntington’s disease and other neuropsychiatric disorders undergoing long-term medical treatments with antipsychotic medication. Furthermore, throughout the projected period, investigational research for the discovery of novel therapies using VMAT2 inhibitors to treat Huntington disease are expected to drive demand.

Neurodegenerative Disease Market Segmentation Analysis- By Indications

The neurodegenerative disease market based on indications can be further segmented into Parkinson’s Disease, Huntington Disease, Alzheimer’s Disease, Amyotrophic Lateral Sclerosis, Multiple Sclerosis, Spinal Muscular Atrophy (SMA) and Others. Multiple Sclerosis held a dominant market share in the year 2021. Recently, more than 4,00,000 people in U.S. are suffering from multiple sclerosis which is rising the adoption of various types of drug class, so the demand for neurodegenerative drugs is expanding. Apart from this, the breakout of the COVID-19 pandemic has had a significant impact on the growth of the multiple sclerosis medications, as it has disrupted the supply chains of numerous important participants in the industry. For example, Biogen announced that sales of one of its important medications, TECFIDERA, which is used to treat multiple sclerosis, fell by 13% in 2020 compared to the previous year such factors are predicted to have a minor impact on market expansion.

However, Huntington Disease is estimated to be the fastest-growing, with a CAGR of 13.2% over the forecast period of 2022-2027. It is owing to various factors such as greater adoption of novel drugs, expanded R&D activity, an increase in the target population, and supportive regulatory measures are all driving the Huntington's Disease incidence. Reportedly, more than 20 drugs are in various phases of clinical trials for the treatment of Huntington's disease.

Neurodegenerative Disease Market Segmentation Analysis- By Geography

The neurodegenerative disease market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 3.1% in the year 2021 as compared to the other counterparts. It is owing to increasing prevalence of neurodegenerative diseases such as Alzheimer diseases, Huntington disease etc. According to the Centers for Disease Control (CDC), Alzheimer's disease is the 6th leading cause of death among US adults. In 2020, it is estimated that more than 5.8 million Americans aged 65 years or older are suffering from Alzheimer’s disease. This is projected to reach 7.7 million by 2030. Meanwhile, according to the Parkinson’s Foundation Prevalence Project, the prevalence of Parkinson’s in the US is predicted to rise from 930,000 in 2020 to 1.2 million by 2030.

Neurodegenerative Disease Market Drivers

Rising prevalence of Alzheimer disease have readily aided the market growth

Alzheimer's disease is a degenerative neurological disease and the most common form of dementia, characterised by memory loss, loss of thinking skills, and difficulties with problem-solving and language. Alzheimer's disease symptoms appear gradually over many years and eventually grow more severe. According to the World Health Organization (WHO), in 2021 over 50 million individuals suffer from dementia, a frequent form of Alzheimer's disease, with 10 million new cases diagnosed each year. The increased prevalence of these disorders also drives the development of various medications. Besides, the market is growing as people become more aware of the drug therapies for Alzheimer's disease around the world. Furthermore, rising awareness of the different novel treatment alternatives, is also helping to fuel the rise of Alzheimer's Drugs.

Availability of robust pipeline of drugs for neurodegenerative disease treatment is driving the market growth

Availability of robust pipeline of drugs for neurodegenerative disorders is forecasted to drive growth of the global Neurodegenerative Disease Market. Recently, in 2021, GlaxoSmithKline Plc in collaboration with Alector Inc. to develop antibody-based treatments for Parkinson's, Alzheimer's and other similar diseases. This collaboration deals worth up to $2.2 billion which efforts to build a robust pipeline of drugs.

Neurodegenerative Disease Market Challenges

High cost of treatment are some of the factors impeding the market growth

The extremely high cost is anticipated to hamper market growth as it limits the access of quality treatment to the middle and low-income population countries. For instance, in U.S. the average annual medical cost for the treatment of Multiple Sclerosis (MS) can reach more than $70,000. This is highly expensive as the country’s median household income in 2020 was only $67,521.

Neurodegenerative Disease Market Competitive Landscape

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Neurodegenerative Disease Market. The top 10- Neurodegenerative Disease Market companies are-

Biogen Inc.,

F. Hoffman La Roche Ltd.,

Merck KGaA,

Novartis AG,

Sanofi,

Teva Pharmaceuticals Industries Ltd.,

Orion Corporation,

H. Lundbeck A/S.,

Sun Pharmaceutical Industries Ltd.,

UCB S.A.

Recent Developments

In May 2021, Biogen Inc. and Envisagenics announced a new collaboration to advance ribonucleic acid (RNA) splicing research within central nervous system (CNS) diseases. As part of the collaboration, Biogen will leverage Envisagenics’ proprietary artificial intelligence (AI)-driven RNA splicing platform, SpliceCore®, to define and understand the regulation of different RNA isoforms in CNS cell types.

In August 2020, Roche announced that the U.S. Food and Drug Administration (FDA) has approved Evrysdi™ (risdiplam) for the treatment of spinal muscular atrophy (SMA) in adults and children 2 months of age and older. This is predicted to drive the SMA indication segment.

In February 2020, Novartis announced that both the US Food and Drug Administration (FDA) and European Medicines Agency (EMA) have accepted the company’s Supplemental Biologics License Application (sBLA) and Marketing Authorization Application (MAA), respectively, for ofatumumab) for the treatment of relapsing forms of multiple sclerosis (RMS) in adults.

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Medical Sensors Market Research Report - Forecast(2022 - 2027)

Medical Sensors Market size is estimated to reach $3.3 billion by 2027, growing at a CAGR of 8.3% during the forecast period 2022-2027. Medical sensors are utilized to discover vital signs from patients. Medical sensors are physically fastened to individuals enduring investigation or care and can record a count of key vitals and variables. These involve temperature, blood pressure, weight, pulse rate, and more. Temperature sensors are utilized in numerous industries like motorsport, heating, ventilation, and air conditioning (HVAC), agriculture, industrial, aerospace, and automotive. There are numerous distinct facets of motors and nearly all of them need temperature measurement to guarantee the motor itself does not overheat.  Ring terminal temperature sensors are frequently utilized on surface plates owing to their capability to be mounted onto a flat surface and measure temperature efficiently. Pressure sensors are utilized in infusion pumps and sleep apnea medications. A majority of the pressure sensors are combined with embedded systems. Medical Monitor Sensors persist in permitting medical professionals and patients the capability to supervise and record conditions. Sensors are available for blood glucose monitoring. Glucose sensors arrive in either a discrete form (blood glucose meter test strips) or a wearable form (a continuous glucose monitor). The most typical kind of glucose sensor is enzyme-based. 

The surging technological progress in low-power electronics, micro-electro-mechanical systems (MEMS), power harvesting, and smart materials together with the establishment of low-key sensing solutions and pressure sensors integrated with embedded systems is set to drive the Medical Sensors Market. The soaring research and development to boost the traditional diagnosis and treatment techniques across the world are set to propel the growth of the Medical Sensors Market during the forecast period 2022-2027. This represents the Medical Sensors Industry Outlook.

Medical Sensors Market Report Coverage

The report: “Medical Sensors Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Medical Sensors Market.

By Sensor Type: Pressure Sensor, Temperature Sensor, Flow Sensor, Biosensor, Others. By Application: Surgical, Diagnostic, Therapeutic, Monitoring, Others. By Geography: North America (U.S, Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).

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Key Takeaways

Geographically, North America Medical Sensors Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the existence of a massive count of makers of medical sensors like sensors for blood glucose monitoring in countries like U.S. and Canada in the North American region.

Medical Sensors Market growth is being driven by the soaring technological progress and the accessibility of wearable sensors for everyday application including blood glucose monitoring for supervising patients with obesity, cardiovascular problems, and diabetes. However, binding regulatory processes are one of the major factors hampering the growth of the Medical Sensors Market. 

Medical Sensors Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Medical Sensors Market report. 

Medical Sensors Market: Market Share (%) by Region, 2021

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Medical Sensors Market Segment Analysis – By Sensor Type:

The Medical Sensors Market based on sensor type can be further segmented into Pressure Sensor, Temperature Sensor, Flow Sensor, Biosensor, and Others. The Temperature Sensor Segment held the largest market share in 2021. This growth is owing to the soaring application of temperature sensors in medical applications worldwide. Temperature sensors are utilized for monitoring body temperature at the time of RF hyperthermia treatments. The surging application of temperature sensors for NMR/MRI (Nuclear Magnetic resonance/Magnetic Resonance Imaging) systems in research and development is further propelling the growth of the Temperature Sensor segment.

Furthermore, the Pressure Sensor segment is estimated to grow with the fastest CAGR of 9.1% during the forecast period 2022-2027 owing to the proliferating application of differential pressure sensors in oxygen therapy systems for supervision of efficiency of oxygen therapy.

Medical Sensors Market Segment Analysis – By Application:

The Medical Sensors Market based on the application can be further segmented into Surgical, Diagnostic, Therapeutic, Monitoring, and Others. The Monitoring Segment held the largest market share in 2021. This growth is owing to the soaring establishment of distinct kinds of monitoring devices employing different kinds of sensors like pressure sensors for providing different kinds of treatments. The integration of distinct kinds of monitoring devices with smart devices and additional wireless medical sensor instruments for patient care is further propelling the growth of this segment.

Furthermore, the Diagnostic segment is estimated to grow with the fastest CAGR of 9.2% during the forecast period 2022-2027 owing to the promising potential of transistor-based sensors for accelerated diagnosis and treatment for COVID-19 and additional infections in conjunction with the application of other medical sensors like pressure sensors.

Medical Sensors Market Segment Analysis – By Geography:

The Medical Sensors Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Medical Sensors Market) held the largest share with 41% of the overall market in 2021. The growth of this region is owing to the advanced healthcare infrastructure in the region. Temperature sensors and pressure sensors are extensively utilized in medical applications. The soaring attention on the semiconductor industry backing technological progress of sensors is further driving the growth of the Medical Sensors Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the soaring population in conjunction with an increasing predominance of incessant ailments like diabetes, respiratory issues, and hypertension in the Asia-Pacific region. The proliferating application of wearable devices from healthcare monitoring in conjunction with the application of medical sensors like temperature sensors and pressure sensors is further fueling the progress of the Medical Sensors Market in the Asia-Pacific region.

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Medical Sensors Market Drivers

Soaring Applications Of Temperature Sensors Are Projected To Drive The Growth Of Medical Sensors Market:

Temperature sensors are utilized in numerous medical applications. These applications involve supervision of body temperature at the time of RF hyperthermia treatments and measurement of patient surface temperature at the time of MRI, fMRI or additional specially designed electro-surgical processes. These sensors are also typically utilized for NMR/MRI systems in research and development. Moreover, these investigations are well suited for temperature sensing in animal testing processes or at the time of sterilization with RF and UV. Neoptix products are particularly planned for medical application with precision and lasting balance in mind. Their standard T1 temperature investigations are difficult and ruggedized to support accomplishing a secure and favorable project. The proliferating applications of temperature sensors are therefore fueling the growth of the Medical Sensors Market during the forecast period 2022-2027.

Surging Applications Of Pressure Sensors Are Expected To Boost The Demand Of Medical Sensors Market:

Pressure sensors are being utilized in life-saving medical applications. Numerous medical devices presently rely on precise and balanced pressure measurements to perform trustworthily. Patient care is extending beyond the hospital and the GP‘s surgery and appearing in patients’ homes, in the form of home health supervision. Accordingly, establishing pressure sensors has evolved into an integral portion of planning medical applications. A ventilator performs by blending air with pure oxygen to support the respiratory function of a patient. Differential or gauge pressure sensors are usually sited between valves and regulators to guarantee the air and oxygen are blended in the right quantities. In this type of application, small surface-mount sensors are perfect. They will normally be particularized for a pressure range of 2in or 5in H2O and are accessible with either analog or digital (I2C) outputs. In spite of being tiny and low power, these low-pressure sensors can frequently involve an integrated DSP (digital signal processor) for adjusting for non-linearity, offsets or the consequences of temperature. The surging usage of pressure sensors in medical applications is therefore driving the growth of the Medical Sensors Market during the forecast period 2022-2027.

Medical Sensors Market Challenges

Challenges In Manufacturing Superior Medical Sensors Are Hampering The Growth Of The Medical Sensors Market:

Testing sensors at the time of and consequent to production-level manufacturing is not like testing digital integrated circuits. While digital circuits are in sensors and get tested as such, sensors frequently have analog constituents that require calibration and testing. Additionally, sensors are becoming more complex. With multiple sensor types performing in the identical small form factor, the complicated design and testing progress up. The challenge in testing sensors is not regarding normal issues in advanced nodes. With these devices in the analog world, it is about 0.18 micron, moving to possibly 90nm. The larger issue is planning sensors at the system level to acquire adequate precision and good SNR (signal-to-noise ratio) out of a sensor. This issue is thus hampering the growth of the Medical Sensors Market.

Medical Sensors Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Medical Sensors top 10 companies include:

GE Healthcare Inc.

STMicroelectronics

Honeywell Inc.

Omron Corporation

Siemens Corporation

TE Connectivity

Analog Devices

Texas Instruments

Medtronics PLC

First Sensor

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Recent Developments

In January 2021, Texas Instruments introduced Wireless Battery Management System for Electric Vehicles. Lithium-ion batteries are the driving force behind the horsepower in electric vehicles, and the novel TI system will keep those lively mustangs regulated without weighing them down. The battery of an electric vehicle is an accumulation of 100 or greater independent cells.

In December 2020, Medtronic plc declared the U.S. commercial introduction of the Carpediem™ Cardio-Renal Pediatric Dialysis Emergency Machine. Succeeding the U.S. Food and Drug Administration's (FDA) marketing endorsement, granted earlier in 2020, the earliest Carpediem™ systems in the U.S were fruitfully installed and are in the application at Cincinnati Children's Hospital Medical Center. The earliest of its type Carpediem™ system is designated for application in acute kidney injury or fluid overloaded patients needing hemodialysis or hemofiltration therapy.

In November 2020, First Sensor introduced a 2-in-1 differential pressure product. First Sensor just brought out its novel LHD ULTRA range, with all sensor types presently accessible as samples – the earliest of which have already been delivered to consumers. The high-precision 2-in-1 differential pressure sensors integrate two sensing elements with distinct pressure series in a single housing.

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Vision Disorders Market - Forecast, 2022-2027

Vision Disorders Market Size is estimated to reach $47.4 billion by 2027. Furthermore, it is poised to grow at a CAGR of 7.1% over the forecast period of 2022-2027. Vision Disorders are defined as any impairment in the normal sense of vision. Myopia, hyperopia, astigmatism, presbyopia, conjunctivitis, cataract, corneal abrasion, entropion, and glaucoma are only a few of the vision diseases that impact the vast majority of the world's population. The majority of vision impairments are caused by poor nutrition, different diseases, severe eye injury, insertion of foreign objects, and advancing age. Despite tremendous advances in preventing and curing visual impairment in many countries over the last two decades, the World Health Organization (WHO) estimates that over 285 million people worldwide are still visually impaired in 2013. According to the WHO, simple eye examinations such as aberrant blinking frequency, pupil size, and eye color can heal 80 percent of visually impaired patients. Clinical and retinal examinations such as corneal topography, keratometry, pachymetry, fluorescein angiography, Indocyanine Green study (ICG) dye test, and other related studies can confirm the diseases. Ignorance and neglect, on the other hand, might result in serious eye issues or irreversible vision loss. In 2004, the Centers for Disease Control and Prevention (CDC) published research estimating that around 14 million Americans over the age of twelve were affected by various vision impairments, eyeglasses, and contact lenses are generally used in eyesight. Silicone hydrogel contact lenses are a type of advanced soft contact lens that allows more oxygen to pass through to the cornea than traditional soft ("hydrogel") contacts.

Vision disorders Market Report Coverage

The report: “Vision Disorders Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Vision Disorders Market.

By Disease Type- Dry Eye, Eye Allergies, Glaucoma, Cataract, Pterygium, Retinopathy, Eye Infection, Retinal Disorders, Uveitis, and Others.

By Product Type- OTC Drugs, and Prescription Drugs.

By Drug Class- Anti-allergy, Anti-inflammatory, Anti-VEGF (Vascular Endothelial Growth Factor), Anti-glaucoma, Antibacterial, and Others.

By Treatment Type- Drugs, Devices, Others.

By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

Geographically, North America held a dominant market share in the year 2021 on account of increasing pharmaceutical industries. Asia-Pacific is expected to offer lucrative growth opportunities to the manufacturers owing to the increasing manufacturing of ophthalmic products in the pharmaceutical industries. The proliferation of ophthalmic products is predicted to augment the market growth during the forecast period of 2022-2027.

The growing number of ophthalmic pharmaceutical companies entering into strategic initiatives coupled with rising awareness regarding gene therapies are estimated to drive the market growth of the Vision Disorders Market. The growing number of patent expiry of blockbuster drugs poses threat to the Vision Disorders Market growth.

A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Vision Disorders Market Report.

Vision Disorders Market: Market Share (%) by region, 2021

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Vision Disorders Market Segment Analysis – By Disease Type

Vision Disorders Market based on disease type can be further segmented into Dry Eye, Eye Allergies, Glaucoma, Cataract, Pterygium, Retinopathy, Eye Infection, Retinal Disorders, Uveitis, and Others. The Cataract segment held a dominant market share in the year 2021 and is estimated to be the fastest-growing, with a CAGR of 8.1% over the forecast period of 2022-2027. The increasing prevalence of cataracts is consequently increasing the Eye disorders Market. According to WHO, in 2019, In underdeveloped countries, the occurrence of cataracts similarly rises with age, though it begins sooner in life and is more common. Visually significant cataracts, for example, occurred 14 years earlier in an Indian study than in a comparable study in the United States. The age-adjusted prevalence of cataracts in India was three times that of the United States, with 82 percent of Indians aged 75 to 83 years old having visually significant cataracts or aphakia, compared to 46 percent of those aged 75 to 85 years in the United States (senile lens changes associated with a visual acuity of 6/9 or worse, or a history of cataract extraction). Moreover, at the same point, glaucoma prevalence is also increasing. Hence, cataracts and glaucoma are expected to propel the market of eye disorders in the forecast period 2022-2027.

Vision Disorders Market Segment Analysis – By Drug class

Vision Disorders Market based on Drug class can be further segmented into Anti-allergy, Anti-inflammatory, Anti-VEGF (Vascular Endothelial Growth Factor), Anti-glaucoma, Antibacterial, and Others. The Risk Management & Safety Solution segment held a dominant market share in the year 2021 and is estimated to be the fastest-growing, with a CAGR of 8.9% over the forecast period of 2022-2027. Owing to the increasing prevalence of eye diseases especially age-related macular degeneration, and diabetic retinopathy. Anti-VEGF drugs prevent aberrant blood vessels from leaking, developing, and bleeding beneath the retina. The protein vascular endothelial growth factor (VEGF) encourages the formation of new blood vessels. It also renders blood vessels more prone to leakage. Anti-VEGF drugs block the formation of new blood vessels. Anti-VEGF medication has been approved for age-related macular degeneration, diabetic retinopathy, retinal vein occlusion, and myopic choroidal neovascularization in the treatment of vascular and exudative diseases of the retina. Lucentis (ranibizumab) and Avastin are the two most extensively utilized medications at the moment (bevacizumab). Both medications are monoclonal antibodies that attach to each of the three types of VEGF, hence expanding the segment growth.

Vision Disorders Market Segmentation Analysis- By Geography

The Vision Disorders Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 31% in the year 2021 as compared to the other counterparts on account of increasing pharmaceutical industries. Furthermore, the presence of prominent competitors in this area, such as Pfizer, Inc., and Alcon, is projected to boost the market growth. For example, Alcon got FDA approval for Pataday Once Daily Relief and Pataday Twice Daily Relief for OTC sale in the United States in February 2020. The Pataday brand is used to treat itching and allergies in the eyes.

However, Asia-Pacific is estimated to be the fastest-growing over the forecast period of 2022-2027 on account of rising healthcare expenditure, and demand for better healthcare facilities. Local businesses are launching strategic endeavors to create and market innovative patient treatment solutions. As a result, market growth is likely to accelerate. Bridge Biotherapeutics, Inc., for example, acquired an early-stage drug candidate for the treatment of a back-eye disorder from Konkuk University (KU) in February 2020. The therapeutic candidate is an inhibitor of a yet-to-be-identified target protein.

Vision Disorders Market Drivers

Pharmaceutical businesses in the ophthalmic field are embarking on strategic efforts that are propelling the market forward

Ophthalmic pharmaceutical firms are pursuing strategic efforts such as collaborations, acquisitions, and partnerships to add new clinical-stage prospects to their product pipelines, which is projected to enhance the market. Rising ophthalmic pharmaceutical business owing to increasing prevalence of eye disorders. According to the World Health Organization, over 2.2 billion individuals will have a vision impairment or blindness in 2021, with at least 1 billion of those having a vision impairment that can be avoided. Those with limited or severe vision impairment due to unresolved refractive error (123.7 million), cataract (65.2 million), glaucoma (6.9 million), corneal opacities (4.2 million), diabetic retinopathy (3 million), and trachoma (2 million), as well as those with imminent vision impairment due to unspecified presbyopia (1.2 billion) (826 million). The growing senior population is exacerbating the prevalence of ocular illnesses, with uncorrected refractive errors and cataracts being the leading causes of vision impairment. The majority of people with vision problems are above the age of 50, enhancing the Vision Disorders Industry.

Rising prevalence of lifestyle changing diseases, especially diabetes is driving the Market for Vision Disorders

According to CDC, in 2021, Diabetic retinopathy (DR) is a common diabetic condition. It is the primary cause of blindness in adults in the United States. Progressive damage of the blood vessels of the retina, the light-sensitive tissue at the back of the eye that is required for good vision, characterizes it. Mild nonproliferative retinopathy (microaneurysms), moderate nonproliferative retinopathy (blockage in some retinal vessels), severe nonproliferative retinopathy (more vessels are blocked, depriving the retina of blood supply, resulting in the formation of new blood vessels), and proliferative retinopathy (growth of new blood vessels) are the four stages of DR (most advanced stage). Both eyes are generally affected by diabetic retinopathy.

Disease management, which includes adequate control of blood sugar, blood pressure, and lipid abnormalities, reduce the risk of DR. Early detection and treatment of DR lessen the risk of vision loss; nevertheless, up to 50% of patients do not have their eyes tested or are detected too late for effective therapy. It is the primary cause of blindness among working-age adults in the United States, ages 20 to 74. Retinopathy and vision-threatening retinopathy impact an estimated 4.1 million and 899,000 Americans, respectively, thereby driving the market growth.

Vision Disorders Market Challenges

The increasing number of blockbuster medicine patents expiring is projected to stifle Market growth of Vision Disorders

Pharmaceutical businesses will lose exclusivity when their patents expire, but medication producers will be granted new chances and difficulties as the generic competition enters the market. The introduction of generic glaucoma eye drops to the market has lowered patient expenses and increased adherence in some patients thereby decreasing the prevalence of glaucoma disorder Market. For instance, Prostaglandin analogs are anticipated to cost patients more than $100 per month on average across the country. When the first generic prostaglandin analog was introduced in 2011, it was projected that patients switching to the generic version would save more than $1,300 per year. 5 A 30-day prescription for generic latanoprost costs between $19 and $30, according to recent data on www.GoodRx.com, where we practice in mid-Missouri, whereas the same prescription for Xalatan (latanoprost ophthalmic solution; Pfizer) costs between $139 and $154. Hence, the increasing number of blockbuster medicine patents expiring is projected to stifle Market growth of Vision Disorders.

Vision Disorders Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Vision Disorders Market. The top 10- Vision Disorders Market companies are-

Croda International Plc

AbbVie Inc

Aerie Pharmaceuticals, Inc.

Novartis AG

AkzoNobel N.V.

F. Hoffmann-La Roche Ltd.

Evonik Industries

PolyOne Corporation

DuPont

Addcomp Holland

Recent developments

In November 2021, Aerie Pharmaceuticals received marketing authorization approval from the European Commission for its Roclanda (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005% for the reduction of elevated IOP in adult patients with primary open-angle.

In October 2021, Abbvie Inc. launched a new drug named VUITYTM (pilocarpine HCl ophthalmic solution). Presbyopia, often known as age-related hazy near vision, is treated with VUITYTM (pilocarpine HCl ophthalmic solution) 1.25 percent in adults. VUITY is the first and only FDA-approved eye drop to treat this prevalent and degenerative eye disease, which affects 128 million Americans, or over half of the adult population in the United States.

In September 2021, Novartis acquired Arctos Medical, bolstering its ophthalmology portfolio with a pre-clinical optogenetics-based AAV gene therapy program and Arctos' proprietary technology. Novartis' dedication to finding solutions for individuals with vision loss, as well as the potential of optogenetics as a foundation for successful therapeutics, is shown in this acquisition.

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Healthcare/Medical Simulation Market - Forecast, 2022 - 2027

Healthcare/Medical Simulation Market Size is estimated to reach $4.1 billion by 2027. Furthermore, it is poised to grow at a CAGR of 15.4% over the forecast period of 2022-2027. Medical simulation, or more generally, healthcare simulation, is a subset of simulation that is used in medical education and training in a variety of sectors. Simulations can take place in a classroom, in a situational setting, or in a venue dedicated to a simulation exercise. It can include artificial, human, or a combination of artificial and human patients, educational papers with full simulated animations, casualty assessment in homeland security and military circumstances, emergency response, and support virtual health activities with holographic simulation. Some are Disease-specific such as cardiovascular simulators are available. Learners can use Patient simulators to practice a variety of skills, including those that cannot be safely or ethically mimicked with actual patients. task trainers and tabletop models cater to more specific skill development requirements. Software is used like Simio Software for healthcare simulation modeling is powerful object-based simulation software. Furthermore, its primary goal in the past was to educate medical professionals on how to decrease errors in surgery, prescriptions, crisis interventions, and general practice. It is currently also utilized to teach pupils anatomy, physiology, and communication throughout their schooling when combined with debriefing approaches. The growing number of medical students and the lack of human bodies are some of the factors driving the Healthcare/Medical Simulation Market growth during the forecast period 2022-2027.

Healthcare/Medical Simulation Market Report Coverage

The report: “Healthcare/Medical Simulation Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Healthcare/Medical Simulation Market.

By Product and Service- Medical simulation anatomical models, Web-Based Simulation, Medical Simulation Software, Simulation Training Services.

By End-Users- Academic Institutes, Hospitals, Military Organizations, Others.

By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

Geographically, North America held a dominant market share in the year 2021 on account of increasing medical students and practical training.

Growing medical students is estimated to drive the market growth of the Healthcare/Medical Simulation Market. Lack of finances for Healthcare/Medical Simulation poses threat to the market growth.

A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Healthcare/Medical Simulation Market Report.

Healthcare/Medical Simulation Market: Market Share (%) by region, 2021

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Healthcare/Medical Simulation Market Segmentation Analysis- By Product and Service

Healthcare/Medical Simulation Market based on the Product and Service can be further segmented into medical simulation anatomical models, Web-Based Simulation, Medical Simulation Software, and Simulation Training Services. Medical simulation anatomical models held a dominant market share in the year 2021 and are estimated to be the fastest-growing, with a CAGR of 16.7% over the forecast period of 2022-2027. According to Medical news 2020, In medical specialties where anatomy manipulation is not part of the procedure, the anatomical model is just as important for practicing placing the patient in the correct position before the procedure begins especially given the underappreciated risk of injuries that can result from incorrect positioning across disciplines. Another consideration is that all surgical operations need tight collaboration among team members, including the interplay of various tools and the proper positioning of team members around the patient. It's easy to see how a facility like this, with little physical space, makes it difficult for trainees to work and coordinate movement. For instance, Arthroscopy is an excellent illustration of how VirtaMed Knee, Shoulder, Hip, and Ankle models may be physically manipulated and positioned during simulation for a variety of procedural demands, such as obtaining the required visibility of the operating perspective, exactly like a surgeon in real life. Hence, medical simulation anatomical models are dominating the market.

Healthcare/Medical Simulation Market Segmentation Analysis- By End User

Healthcare/Medical Simulation Market based on end-user can be further segmented into Academic Institutes, Hospitals, Military Organizations, Others. The academic Institutes segment held a dominant market share in the year 2021 and is estimated to be the fastest-growing, with a CAGR of 17.1% over the forecast period of 2022-2027 owing to the rising number of medical students. According to AAMC, Simulation is an instructional technique that uses standardized patients, manikins, virtual reality, or a mix of these to imitate parts of health care. Patients, learners, medical instructors, and actual care professionals all benefit from simulation. The research on patient safety suggests that simulation can help learners prepare for clinical practice without putting patients in danger. Technical methods, clinical assessment, teamwork, and communication are just a few of the areas where this has been investigated. Since it allows learners to go through a controlled curriculum and undertake a standardized assessment, simulation provides a competency-based learning and assessment alternative to the unpredictable clinical arena. Simulation is supported by pedagogical theory, which holds that competence is gained via repeated practice led by feedback and reflection. Therefore, academic Institutes dominate the market.

Healthcare/Medical Simulation Market Segmentation Analysis- By Geography

The Healthcare/Medical Simulation Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 34% in the year 2021 as compared to the other counterparts on account increased number of healthcare professionals and demand for online and virtual training, all of which can be related to the COVID19 pandemic, helping in generating considerable income in the future years. 

However, Asia-Pacific is estimated to be the fastest-growing over the forecast period of 2022-2027. Asia-Pacific is estimated to offer lucrative growth opportunities to the manufacturers owing to the increasing number of patients and demand for better healthcare facilities as well as the boost in the investments done by government and private companies in the pharma industry. The proliferation of Rheumatoid arthritis is predicted to augment the market growth during the forecast period of 2022-2027.

Healthcare/Medical Simulation Market Drivers

Limited Access To Patients Is Driving The Market Growth.

Medical simulators have established a valuable place in medical education across the world since they mimic human traits. Owing to limited access to patients and the need to preserve patient safety throughout training, simulation is increasingly being used in professional training programs and conventional learning. Students can use the simulation to hone their clinical and critical thinking abilities in preparation for high-risk situations. When compared to pre-education or simulation alone, pre-education plus simulation substantially improves student knowledge, confidence in performance, ability in nursing practice, and satisfaction with learning techniques. According to the World Health Organization (WHO), patient safety is one of the most important worldwide public health concerns in 2019, with a one-in-300 probability of a patient being harmed while receiving medical treatment. Moreover, as numerous startups seek chances in this industry, the market is projected to become extremely competitive. CAE, for example, achieved ISO 13485:2016 accreditation for its facilities in Montreal (Canada) and Sarasota (USA) in December 2020. (U.S.). Both are facilities for medical devices and quality management systems. Military branches all across the world are changing their training and education models. As a result, in medicine, simulation has a lot of potential for improving multidisciplinary medical teaching. Hence, limited access to patients is a driving factor for the market.

Rising Healthcare Professionals Is Enhancing The Healthcare/Medical Simulation Industry.

Health care professionals are increasing steading as the number of patients is rising simultaneously. For instance, during COVID 19 calls for health care professionals has received from almost all countries. The countries where health care professionals are lacking suffered owing to pandemics. Moreover, for treatment and vaccination pharmacist, nurse, and other health care professionals also plays a major role in patient cure and safety. According to FSMB 2019, Since 2010, the United States has recruited 168,691 physicians to its medical workforce, serving a population of 331 million people. The number of freshly licensed physicians entering the workforce continues to fuel growth. Hence, the rising number of physicians is estimated to propel the market.

Healthcare/Medical Simulation Market Challenges

Short Supply Of Finances Is Restraining The Market Growth.

Owing to the high expense of high-fidelity simulators and virtual environments, the construction of simulated learning environments and simulation programs necessitates large financial inputs. Medical simulation training facilities rely on government and private financing in the majority of situations. Rapid advances in medical technology, decreased reimbursement for clinical services, rising healthcare professional costs, and decreases in federal GME payments have all contributed to a decrease in financing from government and private institutes in recent years. The expense of running a simulation lab is fairly high. A single high-fidelity simulator, including the monitoring system and other required equipment, can cost up to $200,000. To recreate the experience of treating actual patients in a real hospital, synthetic body fluids, replacement skins, bandages, syringes, and other materials are required. Thus, the short supply of Finances is estimated as a restraining factor for the market.

Healthcare/Medical Simulation Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Healthcare/Medical Simulation Market. The top 10- Healthcare/Medical Simulation Market companies are-

IngMar

Synaptive Medical

HRV Simulation

 Symgery

Synbone

Medical-X

Altay Scientific

VirtaMed AG

 Gaumard Scientific Co.

CAE Inc.

Recent Developments

In August 2021, IngMar Medical announced the launch of RespiPro, its next-generation respiratory and ventilation training solution. Using their own genuine ventilators and breathing equipment, educators instruct all levels of learners across many disciplines on the complete breadth of respiratory methods using RespiPro. The ASL 5000TM breathing simulator, as well as easy-to-use software, a true-to-life patient monitor, and a respiratory-focused manikin on a small ICU bed, are all included in the package. 

In July 2021, SYNBONE AG announced the launch of the Skull Holder System for use in Trauma, neurosurgery education, and orthognathic surgery. Skull Holder System used specifically for CMF Trauma, Orthognathic, and Neuro Surgery Education. With or without vice attachment, this ingenious and multipurpose system holds all SYNBONE® skulls, half skulls, and maxillas. Two adapters, a 3-pin adapter, and a Hemi-skull adapter allow for a 360° step-less rotation of the skulls and a wide range of applications. The system comes with a sturdy, waterproof traveling container with foam inlays. This dependable Skull Holder System ensures a uniform schooling idea while also impressing its quality and effectiveness.

In May 2021, CAE Inc. announced the launch of CAE Vimedix 3.2, a high-fidelity ultrasound simulator with enhanced 3D and 4D scanning capabilities. CAE Vimedix is a high-fidelity ultrasound simulator that combines heart, lung, abdominal, and OB-GYN ultrasound training into a single platform. CAE Vimedix speeds the development of important psychomotor and cognitive abilities for ultrasound probe handling, picture interpretation, diagnoses, and clinical decision-making using its software and manikin-based system, as well as live, remote learning elements.

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Neurotherapeutic Drugs Market - Forecast, 2022-2027

The Neurotherapeutic Drugs Market size is estimated to reach $112.3 billion by 2027, growing at a CAGR of 5.4% during the forecast period 2022-2027. Neurotherapeutic drugs market research involves reporting on the segments, drivers, challenges and competitive landscape related to the Neurotherapeutic Drugs Market. In the UK, Neurotherapeutics Solutions Ltd, a medical device firm, aims at neurological ailments with an initial focus on products to help inpiduals with Tourette Syndrome improve their condition without surgical or pharmaceutical interferences. In the U.S., some of the biggest key players are Abbott Laboratories, Inc. and Becton, Dickinson and Company. The increasing predominance of neurological conditions among the elderly is set to drive the Neurotherapeutic Drugs Market. The growing awareness of the Neurotherapeutic drugs market in the U.S. is set to propel the growth of the Neurotherapeutic Drugs Industry during the forecast period 2022-2027. This represents the Neurotherapeutic Drugs Industry Outlook.

Neurotherapeutic Drugs Market Report Coverage

The report: “Neurotherapeutic Drugs Market Report - Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Neurotherapeutic Drugs Market.

By Type: Peripheral Nervous System (PNS) Disorders, Autonomous Nervous System (ANS) Disorders, Central Nervous System (CNS) Disorders and Others. By Distribution Channel: Hospital Pharmacies, Retail Pharmacies and Online Pharmacies. By Geography: North America (the US, Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest Of The World (the Middle East and Africa).

Key Takeaways

Geographically, North America (Neurotherapeutic Drugs market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the principal technological progress in the Neurotherapeutic drugs market in the North American region, particularly the US.

Neurotherapeutic Drugs Market research and growth are being driven by the expanding population of the elderly. However, certain side-effects related to surgical procedures and medications are some of the major factors hampering the growth of the Neurotherapeutic Drugs Market.

Neurotherapeutic Drugs Market Detailed Analysis on the Strength, Weaknesses and Opportunities of the prominent players operating in the market would be provided in the Neurotherapeutic Drugs Market report. 

Neurotherapeutic Drugs Market: Market Share (%) by Region, 2021

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Neurotherapeutic Drugs Market Segment Analysis - By Type

The Neurotherapeutic Drugs Market based on type can be further segmented into Peripheral Nervous System (PNS) Disorders, Autonomous Nervous System (ANS) Disorders, Central Nervous System (CNS) Disorders and Others. The Central Nervous System (CNS) Disorders Segment held the largest share of the Neurotherapeutic Drugs market in 2021. This growth is owing to the increasing predominance of central nervous system disorders like seizures and epilepsy. The surging application of CNS agents like antiparkinsonian drugs is further propelling the growth of the Central Nervous System (CNS) Disorders segment.

Furthermore, the Autonomous Nervous System (ANS) Disorders segment is estimated to grow at the fastest CAGR of 6.6% during the forecast period 2022-2027 owing to the increasing predominance of autonomous nervous system disorders which can happen alone or as the outcome of another ailment, like Parkinson's disease, alcoholism and diabetes.

Neurotherapeutic Drugs Market Segment Analysis - By Distribution Channel

The Neurotherapeutic Drugs Market based on distribution channels can be further segmented into Hospital Pharmacies, Retail Pharmacies and Online Pharmacies. The Hospital Pharmacies Segment held the largest share of the Neurotherapeutic Drugs market in 2021. This growth is driven by the surging availability of neurotherapeutic drugs in hospital pharmacies to treat neurological ailments. The increasing inclination of patients to instantaneously purchase neurotherapeutic medications from hospital pharmacies on the prescription of physicians is further propelling the growth of this segment. Furthermore, the Online Pharmacies segment is estimated to grow with the fastest CAGR of 6.9% during the forecast period 2022-2027 due to the soaring application of online pharmacies by patients to readily purchase the Neurotherapeutic Drugs required as prescribed by physicians right at the click of the mouse with home delivery options and discounted rates.

Neurotherapeutic Drugs Market Segment Analysis - By Geography

North America dominated the Neurotherapeutic Drugs market with a 39% share of the overall market in 2021. The growth of this region is owing to the increasing predominance of neurological ailments, boosting the neurotherapeutic drugs market in the U.S. The existence of key players like Abbott Laboratories, Inc. is further propelling the growth of the Neurotherapeutic Drugs Industry, thereby contributing to the growth of the Neurotherapeutic Drugs Industry Outlook, in the North American region. Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR over the forecast period 2022-2027. This growth is driven by the factors like the expanding healthcare facility upgrade in the Asia-Pacific region. The powerful economic growth in countries like India, China, Japan and Malaysia is further fueling the progress of the Neurotherapeutic Drugs Market in the Asia-Pacific region.

Neurotherapeutic Drugs Market Drivers

Surging Investigations Pertaining to NMDA Antagonists as Neurotherapeutic Drugs:

As per World Health Organization (WHO), in 2019, 301 million people were living with an anxiety ailment, involving 58 million children and teenagers. Antagonists of the N-methyl-D-aspartate (NMDA) subtype of glutamate (Glu) receptor have become the target of appreciable attention as potential neurotherapeutic agents in view of growing evidence showing NMDA receptors in acute central nervous system (CNS) injury syndromes like stroke, trauma and status epilepticus. Additionally, NMDA receptor antagonists are of possible interest for the clinical handling of neuropathic pain and averting the establishment of tolerance to opioid analgesics. The surging investigations pertaining to NMDA Antagonists as neurotherapeutic drugs are therefore fueling the growth of Neurotherapeutic Drugs Market Research during the forecast period 2022-2027.

Soaring Therapeutic Innovations in Neuroscience:

As per World Health Organization (WHO), 1 in every 8 people in the world lives with a mental ailment. Stephenson et al. examine whether and how creative trial designs and technologies can propel the progress of treatments for typical neurological ailments like Parkinson’s disease. These technologies include multiarm adaptive platform designs and digital health tools to supervise progression in rare ailments like Duchenne muscular dystrophy and amyotrophic lateral sclerosis (ALS). Novel platforms including data from finished clinical trials, registries, natural history investigations and preclinical data have been examined. The soaring therapeutic innovations in Neuroscience are therefore driving the growth of the Neurotherapeutic Drugs Industry, thereby contributing to the Neurotherapeutic Drugs Industry Outlook during the forecast period 2022-2027.

Neurotherapeutic Drugs Market Challenges

Scientific Challenges in Neurotherapeutic Pharmaceutical Development:

Generally, sales of CNS therapeutics include nearly 15% of total pharmaceutical sales and $30 billion, globally. Around two-thirds of these sales are for psychiatric treatments. The scientific challenges for therapeutics developers are high in neurotherapeutics. While the move is made from symptomatic treatments to mechanistically targeted cures, there is a battle to base development on fields of knowledge that are very quickly altering and far from complete. Also, the comprehension of the interactions between factors is fragmentary at best in such cases. Neurotherapeutics developers encounter unexpectedly great failure rates and enormous attendant expenses that must be covered by the tiny number of therapeutics that triumph. These issues are thus hampering the growth of the Neurotherapeutic Drugs Market.

Neurotherapeutic Drugs Industry Outlook

Novel and innovative device launches and expanding R&D activities are key strategies adopted by players in the Neurotherapeutic Drugs Market. The top 10 companies in the Neurotherapeutic Drugs market are:

Abbott Laboratories, Inc.

Becton, Dickinson and Company

Novartis AG

Johnson & Johnson

Pfizer, Inc.

Sanofi-Aventis

Biogen, Inc

GlaxoSmithKline, Inc.

AstraZeneca plc

Merck & Co.

Recent Developments

In September 2021, Merck and Acceleron Pharma Inc. declared that the firms have entered into a definitive agreement. Under this agreement, Merck would gain Acceleron for $180 per share in cash. The acquisition completes Merck’s cardiovascular pipeline.

In April 2021, Merck declared the successful finishing of the cash tender offer, by way of a subsidiary. This was performed for all of the outstanding shares of common stock of Pandion Therapeutics, Inc. As of the tender offer termination, 27,770,123 shares of the common stock of Pandion were validly tendered.

In January 2021, Merck declared the acquisition of AmpTec. Based in Hamburg, Germany, AmpTec is a superior, mRNA contract development and manufacturing organization (CDMO). The deal consolidates Merck's capacities to establish and produce mRNA for its customers.

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Rehabilitation Products Market - Forecast, 2022-2027

The Rehabilitation Products Market Size is estimated to reach $20.1 billion by 2027 and is poised to grow at a CAGR of 6.3% during the forecast period of 2022-2027. Rehabilitation is the treatment designed to facilitate the process of recovery from the state of injury or illness. The most important feature of any Rehabilitation Aid is its ability to provide maximum support without causing any further discomfort to the patient who is already in pain and needs medical beds, patient lifts, daily living aids and mobility equipment. The increasing number of disabilities owing to acute illness, disease, injuries, accidents and the increasing geriatric population drive the market growth. According to Global RA Network, there are more than 350 million people suffering from arthritis in 2021 and more than 22% of adults around the world, who are older than 40, have knee osteoarthritis. According to World Health Organization, by 2060, one in six people in the world would be aged 60 or above, and by 2050 two-thirds of the world population would be over the age of 60 years. Such a rising elderly population and increasing disabilities fuel the growth of rehabilitation products market size. Such increasing prevalence of disabilities and the growing demand for various rehabilitation products in the market create lucrative growth opportunities for key market players as well as the rehabilitation products industry. To fulfill market demand, key market players focused on the joint venture and expansion of business. For instance, in January 2022, MicroPort RehabTech, a subsidiary of MicroPort Scientific Corporation, unveiled a series of new products under its integrated solution for musculoskeletal rehabilitation at a launch event held in Beijing. Such rapid enhancement in technology and rising global need for Rehabilitation Products would drive the growth of the Rehabilitation Products Industry during the forecast period 2022-2027.

Rehabilitation Products Market Report Coverage

The report: “Rehabilitation Products Market Forecast (2022-2027)" by Industry ARC, covers an in-depth analysis of the following segments in the Rehabilitation Products Market.

By Product Type: Medical Bed, Mobility Scooter, Walker, Crutcher, Cane, Patient Lift, Sling and Others. By Application: Physical, OT, Lower-body Exercise Equipment (Lower Body Exercise Equipment, Upper Body Exercise Equipment and Total Body Exercise Equipment), Daily Living aids (Medical Beds, Bathroom & Toilet Assist Devices and Reading/Writing & Computing Aids), Mobility Equipment (Wheelchair & Scooters and Walking Assist Devices), Body Support Device (Patient Lifts and Medical Lifting Slings) and Others. By End-Users: Physiotherapy Center, Occupational Therapy. By Geography: North America (the U.S., Canada, Mexico), Europe (Germany, the United Kingdom, France, Italy, Spain, Russia and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand and the Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

Geographically, North America held a dominant market share in 2021. The advanced medical facilities and high spending capacity in this region aid the growth of the Rehabilitation Products Market Size in this region.

The Rehabilitation Products Market Share is predicted to grow due to the increasing disabilities owing to various reasons such as accidents, injuries, disease and others. However, the increasing healthcare burden with the premium price of rehabilitation products may limit the market growth over the forecast period 2022-2027.

A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Rehabilitation Products Market Report.

Rehabilitation Products Market: Market Share (%) by region, 2021

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Rehabilitation Products Market Segment Analysis - by Applications

Rehabilitation Products Market based on applications can be further segmented into Physical, OT, Lower-body Exercise Equipment (Lower Body Exercise Equipment, Upper Body Exercise Equipment and Total Body Exercise Equipment), Daily Living aids (Medical Beds, Bathroom & Toilet Assist Devices and Reading/Writing & Computing Aids), Mobility Equipment (Wheelchair & Scooters and Walking Assist Devices), Body Support Device (Patient Lifts and Medical Lifting Slings) and Others. The Mobility Equipment segment held a dominant market share in the year 2021, owing to the increasing disabilities across the globe. According to the World Health Organization (WHO) report (on Road Traffic Injuries) published in June 2022, approximately 1.3 million peoples die in road accidents and more than 90% of road traffic deaths occur in low- and middle-income countries. Also, 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury. Owing to such a high number of disabilities demand for mobility equipment such as medical beds, patient lifts, daily living aids, and mobility equipment is on a rise. Such factors drive the growth of the Rehabilitation Products Market Size.

However, Daily Living aids are estimated to grow with the fastest CAGR rate of 6.5% over the forecast period 2022-2027. These daily living aids are important for everyday use for people with disabilities and helpful in daily activities. Equipment such as bathing aids, walking frames, bed levers, toilet frames, stair lifts, hospital beds, hoists, and others are necessary for everyday life. The surging dependence on daily living aids among disabled people is expected to grow the Rehabilitation Products Market Size during the forecast period 2022-2027.

Rehabilitation Products Market Segment Analysis - by End-users

Rehabilitation Products Market based on the end-users can be further segmented into Physiotherapy Center and Occupational Therapy. The Physiotherapy segment held a dominant market share in the year 2021. This is owing to the increasing need for physiotherapy by the elderly population and the people recovering from major injuries or surgery. According to the research paper published in July 2020 by National Center for Biotechnology Information, 310 million major surgeries are performed each year. Around 40 to 50 million are done in the U.S.A. and 20 million are done in Europe. Such increasing cases of surgeries and the increasing number of the elderly population drive the growth of the Rehabilitation Products Market Share.

However, Occupational Therapy is estimated to grow with the fastest CAGR rate of 6.2% during the forecast period 2022-2027. The reasons are its attributes that focus on improving the patients' abilities to move their body with occupational-based activity, purposeful activity and preparatory methods. Occupational therapy is mostly used in major diseases for post-stroke management, for patients with Parkinson’s disease and others. Such attributes of occupational therapy and its increasing use would fuel the growth of the Rehabilitation Products Market Share during the forecast period 2022-2027.

Rehabilitation Products Market Segment Analysis - by Geography

The Rehabilitation Products Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America held a dominant market share of 40% in the year 2021. This is the result of the developed healthcare infrastructure in the region. Also, the increasing prevalence of non-communicable diseases like cancer, cardiovascular disease, diabetes, arthritis and Parkinson’s are rapidly growing in this region. According to American Cancer Organization, about 1.9 million new cancer cases are diagnosed in the United States in 2021. As per Parkinson's Foundation, about 1 million people in the U.S. are living with Parkinson’s disease and the number is estimated to reach up to 1.2 million by 2030. Such an increasing number of chronic diseases and disabilities in this region fuels the growth of the Rehabilitation Products Market Share.

Furthermore, Asia-Pacific is estimated to grow with the fastest CAGR rate of 7.1% over the forecast period 2022-2027, owing to the rising healthcare developments in this region. Also, various government policies and growing research & developments by key market players help the market grow. Also, the increasing number of patients with disabilities, improved public and private reimbursement infrastructure, the growing number of physicians and the rapid adoption of new products are expected to drive the growth of the Rehabilitation Products Market Share in this region during the forecast period 2022-2027.

Rehabilitation Products Market Drivers

Increasing Number of Old People around the World Drives Market Growth:

The rising population going towards old age and the increasing disabilities associated with old age are boosting the Rehabilitation Products Market growth. The main cause of disabilities in old age is the lack of lubricative material in the bone joint such as hyaluronic acid or hyaluronan (HA), lubricin and surface-active phospholipids which are mostly found low in quantity among people aged above 60. According to World Health Organization, by 2030, one in six people will be aged 60 or above. The world’s oldest population lives in Japan. According to the Statistics Bureau of Japan, in May 2022, the percentage of the population over age 65 would go up to 29% of the total population. Such an increasing elderly population creates a growth opportunity for Rehabilitation Products Industry over the forecast period 2022-2027.

New Technology Aids Market Growth:

Rising cases of critical diseases like CVD, cancer and neurological diseases around the world, along with increasing cases of patients with disabilities, create a growth opportunity for the global Rehabilitation Products Industry. Also, major countries and healthcare companies around the world are focusing on better healthcare infrastructure and research & developments for better diagnosis and treatment. As per the Niti Ayog report, the Foreign Direct Investment (FDI) in India raised up to US$50 billion in 2019-2020. India also allowed 100% FDI in the healthcare sector which helped to strengthen the healthcare industry in India. Innovation in the healthcare industry raised $44 billion globally in 2021, as per start-up health research insight. In December 2021, Royal Rehab’s launched a new range of devices to accelerate patient recovery and increase their strengths and mobility. Such innovations and investments in the healthcare sector would drive the growth of the Rehabilitation Products Industry over the forecast period 2022-2027.

Rehabilitation Products Market Challenge

High Cost of Treatment and Lack of Healthcare Infrastructure may Hinder Market Growth

Most of the world population is living in the middle-income group, as per data released by Oxfam, a global network of charitable organizations, over a quarter of a billion people will be pushed into poverty in 2022. Also, according to a new World Bank (WB) and World Health Organization (WHO) research, at least half of the world population lacks access to basic health services. At present, about 800 million people spend at least 10% of their household budgets on health expenses, and these expenses are high enough for about 100 million people to push them into extreme poverty, forcing them to live on USD 1.90 or less a day. Such factors kept most of the population away from healthcare services which may hinder the Rehabilitation Products Industry growth over the forecast period.

Rehabilitation Products Market Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Rehabilitation Products Market. The top 10 companies in the Rehabilitation Products Market are:

1. Invacare Corporation IVC 2. Medline Industries Inc. 3. Dynatronics Corporation 4. Drive DeVilbiss Healthcare (Medical Depot Inc.) 5. Carex Health Brands Inc. 6. Caremax Rehabilitation Equipment Co. Ltd. 7. Ekso Bionics 8. GF Health Products Inc. 9. Hill-Rom Services Inc. 10. Hospital Equipment Mfg. Co.

Recent Developments

In July 2022, Medline announced the acquisition of Dufort et Lavigne Ltée, a Montreal-based medical supplies distributor. The addition of Dufort et Lavigne extends Medline’s presence in Canada into Quebec and continues Medline’s investment in the Canadian market while extending its distribution infrastructure from coast to coast.

In December 2021, Invacare Corporation, a leading manufacturer and distributor in its markets for medical equipment used in non-acute care settings, announced a strategic realignment of Europe and Asia-Pacific businesses under a single leader to streamline operations and enhance the customer experience.

In June 2021, CareMax, Inc., a leading technology-enabled provider of value-based care to seniors, announced the closing of the acquisition of Senior Medical Associates, LLC. SMA operated 10 conveniently located medical centers across Broward County with approximately 5,000 Medicare Advantage members in the SMA network. CareMax intended to use SMA’s footprint as the foundation of CareMax’s expansion initiative in Broward County, a market with more than 335,000 Medicare-eligible beneficiaries.

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Medical Equipment Rental Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022 - 2027

Medical Equipment Rental Market size is estimated to reach $5.1 billion by 2027, growing at a CAGR of 4.17% during the forecast period 2022-2027. Medical Equipment Rental is one of the rapidly developing rental industries and one of the excellent methods to acquire modern and up-to-date Healthcare Equipment without expending much money to keep up good health. Durable medical equipment is any medical equipment utilized at home to assist in a superior quality of living. It is again contained in most insurances. Durable medical equipment (DME) rentals are inclusive of portable oxygen concentrator, wheelchair, ramp, CPAP ventilator, home hospital bed, and mobility scooter. Therapeutic devices are of two kinds as follows: those that help a patient in their everyday actions, and those that help medical personal in transferring therapeutic services. Patient assistive devices are inclusive of hearing aids and visual aids. The Global Harmonization Task Force (GHTF) was established in 1992 and is an informal grouping that was shaped to respond to the developing requirement for the international harmonization of regulations in medical devices. Medical Equipment has sometimes termed armamentarium and is targeted to assist with medical diagnosis, monitoring, and treatment. The proliferating technological progress in armamentarium and therapeutic devices is set to drive the Medical Equipment Rental Market owing to the surging preference of hospitals and medical professionals for medical equipment renting rather than purchasing emerging instruments. The budgetary restraints and financial issues of hospitals and other healthcare establishments are set to propel the growth of the Medical Equipment Rental Market during the forecast period 2022-2027. This represents the Medical Equipment Rental Industry Outlook.

Report Coverage

The report: “Medical Equipment Rental Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Medical Equipment Rental Market.

By Product Type: Durable Medical Equipment (Acute Care, Long-Term Care, Emergency And Trauma Care), Surgical Equipment, Personal Mobility Devices, Electronic/Digital Equipment, Storage And Transport Devices.

By End-User: Hospitals, Personal/Home Care (Chronic And Geriatric Patients, Preventive Care/Monitoring, Short Term And Outpatient Care), Institutional (Medical Research Laboratories/Institutions), Others.

By Geography: North America (U.S, Canada and Mexico), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), and Rest Of The World (Middle East, Africa)

Key Takeaways

Medical Equipment Rental Market Segment Analysis – By Product Type:

The Medical Equipment Rental Market based on product type can be further segmented into Durable Medical Equipment, Surgical Equipment, Personal Mobility Devices, Electronic/Digital Equipment and Storage And Transport Devices. The Durable Medical Equipment Segment held the largest market share in 2021. This growth is owing to the extensive utilization of rented manual wheelchairs, hospital beds, traction equipment, pressure mattresses, and patient lifts. The surging application of rented therapeutic devices like insulin pumps in the treatment of incessant ailments like diabetes is further propelling the growth of the durable medical equipment segment.

Furthermore, the Personal Mobility Devices segment is estimated to grow with the fastest CAGR of 4.9% during the forecast period 2022-2027 owing to the ready accessibility of technologically progressive, compact, and portable mobility devices like powered wheelchairs which are also therapeutic devices.

Medical Equipment Rental Market Segment Analysis – By End-User:

The Medical Equipment Rental Market based on end-user can be further segmented into Hospitals, Personal/Home Care, Institutional, and Others. The Hospitals segment held the largest market share in 2021. This growth is owing to the increased renting of medical equipment including therapeutic devices during these troubled times of economic downturn in the wake of the COVID-19 pandemic wherein equipment procurement has been replaced with renting. The enormous patient pool and the surging government reforms encouraging the utilization of progressive healthcare infrastructure are further accelerating the growth of this segment. Proliferating requirements for liquefying frozen capital in conjunction with surging issues concerning ineffective capital deployment is further propelling the growth of this segment.

Furthermore, the Personal/Home Care segment is estimated to grow with the fastest CAGR of 5.1% during the forecast period 2022-2027 owing to the expanding predominance of incessant ailments like diabetes requiring application of therapeutic devices like insulin pumps in conjunction with the growing population of the elderly.

Medical Equipment Rental Market Segment Analysis – By Geography:

The Medical Equipment Rental Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Medical Equipment Rental Market) held the largest share with 39.2% of the overall market in 2021. The growth of this region is owing to the soaring concentration of key players like US Med-Equip, Inc. The current economic slow-down, the increasing population of the elderly, the rising predominance of incessant ailments requiring durable medical equipment, and the extensive government initiatives to control spend on healthcare are further propelling the growth of the Medical Equipment Rental Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like an enormous patient pool resulting in great demand for affordable healthcare equipment. The augmented population of the elderly in conjunction with the proliferating initiatives of the government to increase the affordability and availability of therapeutic devices is further fuelling the progress of the Medical Equipment Rental Market in the Asia-Pacific region.

Medical Equipment Rental Market Drivers

Durable Medical Equipment Innovations On Rent Are Projected To Drive The Growth Of Medical Equipment Rental Market:

Firms are financing the development of durable medical equipment. The giant wave of innovation is occurring with connected medical devices that permit patients and healthcare professionals to supervise advancement. Glutrac is a smart wearable for non – invasive glucose supervision. It assesses signals from human bodies with optical sensors of distinct wavebands and accumulates data utilizing four supervising techniques and then develop large data-powered models for individual users to measure users blood glucose levels depending on Artificial Intelligence (AI) and deep learning. Glaukos’s iStent Inject is planned to minimize intraocular pressure securely and efficiently in patients who have been diagnosed with primary open-angle glaucoma, pseudo-exfoliative glaucoma or pigmentary glaucoma. These kinds of innovative durable medical equipment on rent are fuelling the growth of the Medical Equipment Rental Market during the forecast period 2022-2027.

Increasing Rentals Of Therapeutic Devices Are Expected To Boost The Demand Of Medical Equipment Rental:

Therapeutic devices are usually of two kinds as follows: those that help a patient in their everyday activities and those that help medical personal in transferring therapeutic services. Patient assistive devices are inclusive of hearing aids, visual aids, canes, walkers, or any other appliance that permits patients to carry out tasks they otherwise would not be able to do owing to a physical restraint or disability. Examples of therapeutic devices utilized by medical personnel involve oxygen delivery systems, catheters, intravenous lines, and physical therapy equipment. Patient assistive therapeutic devices like canes, crutches, and wheelchairs are increasingly available on rent. Oxygen concentrator and Wound Vacuum-Assisted Closure (VAC)  are also available on rent. The surging rentals of therapeutic devices are driving the growth of the Medical Equipment Rental Market during the forecast period 2022-2027.

Medical Equipment Rental Market Challenges

Non-Adherence Of Rented Medical Equipment To Nationally Identified Quality And Patient Security Standards Is Hampering The Growth Of The Medical Equipment Rental Market:

The hazard that directly affects patient care is that third-party rental providers are not needed to follow the identical high-level, nationally identified quality and patient security standards as makers. This is a crack that is appalling and anonymous. In contemporary healthcare surroundings — where tiny determinants play a large role in clinical quality, patient security and even reimbursement rates — there is just zero room for hazard. There is no concept of a hurtless shortcut. Yet the disquieting practicality is that while a chosen few rental vendors presently self-adhere to crucial, risk-reducing ISO 13485:2016 standards for their medical equipment administration, almost all are either not certified or are certified to a less binding ISO 9001:2015. In reality, this means that crucial life-rescuing medical devices may not be kept up to the anticipated standards— which may result in poor performance or even equipment collapses that endanger patient security. This issue is hampering the growth of the Medical Equipment Rental Market.

Medical Equipment Rental Market - Landscape:

Progressive devices targeted towards superior healthcare services, optimum capital utilization, mergers and acquisitions, agreements, partnerships, collaborations, joint ventures, regional expansion, and R&D activities are key strategies adopted by players Market. Medical Equipment Rental top 10 companies include:

Med One Group

AGITO Medical A/S

Hill-Rom Holdings Inc.

Woodley Equipment Company Ltd

Westside Medical Supply

Nunn’s Home Medical Equipment

Siemens Financial Services, Inc.

Universal Hospital Services, Inc.

3M Company

US Med-Equip

Acquisitions/Product Launches:

In September 2021, shares of Hill-Rom Holdings HRC rallied 4.7% at the closing of the previous day, after it secured a merger deal with medical device major, Baxter International BAX. The hospital-bed manufacturer decisively consented to be gained by Baxter for a total equity value of nearly $10.5 billion and a total enterprise value of near;y $12.4 billion, inclusive of the assumption of debt. The final purchase price, depicting $156 a share of Hill-Rom from the authoritative agreement, implies a 26% premium to Hill-Rom’s closing price of Jul 27.

In April 2021, Hillrom declared principal technological advances to its market-leading physical evaluation appliances with the introduction of the novel Welch Allyn® PanOptic™ Plus Ophthalmoscope and the Welch Allyn® MacroView® Plus Otoscope. The novel appliances depict advances that develop over 100 years of the innovation of the firm in physical evaluation appliances and a novel standard of care in exam rooms. The novel Welch Allyn MacroView Otoscope is characterized by a novel, one-of-a-kind, LumiView clear ear speculum, with four times the brightness by way of an adult speculum in comparison with a standard ear speculum.

In January 2021, Hillrom declared that it has arrived at an authoritative agreement to gain Bardy Diagnostics, Inc. (BardyDx), an innovator in digital health and a chief provider of ambulatory cardiac supervising technologies. Under the terms of the agreement, Hillrom will buy BardyDx for a cash consideration of $375 million and forthcoming possible payments based on the accomplishment of some commercial milestones. Hillrom is also obtaining net operating losses valued at over $20 million that are anticipated to lead to forthcoming tax gains.

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Neonatal Phototherapy Devices Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022 - 2027

Neonatal Phototherapy Devices Market size is estimated to reach $132.5 million by 2027, growing at a CAGR of 3.7% during the forecast period 2022-2027. Neonatal Phototherapy is the application of visible light to heal serious jaundice in the neonatal period. The phototherapy utilizes an assortment of 5 high-power LEDs, positioned 30 cm above the patient. The treatment applies great radiation emitted in the blue range of the spectrum, from 400 to 550 nm (the most recommended for Jaundice treatment). The device also offers supplementary functions, like a combined radiometer and treatment time counter. Phytotherapy Is a clear and secure treatment for Neonatal Jaundice. Jaundice is a typical discovery in premature and full-term newborn babies. One of the most efficient and secure techniques for treating neonatal jaundice is utilizing light therapy or phototherapy. This device utilizes fluorescent lamps, tungsten-halogen bulbs, LEDs, optical fibers, and more. Based on Light Source, the Neonatal Phototherapy Devices Market is segmented into Fluorescent Lamps, Light Emitting Diodes (LEDs), Quartz Halogen Lamps, and Gas Discharge Tubes.

The surging application of hospital phytotherapy for the healing of unconjugated hyperbilirubinaemia in pre-term and term babies is set to drive the Neonatal Phototherapy Devices Market. The proliferating government plans, regulations, and arbitrations targeted at limiting the count of neonatal jaundice cases and developing progressive healthcare infrastructure across numerous local markets have heightened the acceptance of technologically advanced neonatal phytotherapy devices involving light sources like fluorescent lamps worldwide and this is set to propel the growth of the Neonatal Phototherapy Devices Market during the forecast period 2022-2027. This represents the Neonatal Phototherapy Devices Industry Outlook.

Report Coverage

The report: “Neonatal Phototherapy Devices Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Neonatal Phototherapy Devices Market.

By Light Source: Fluorescent Lamps, Light Emitting Diodes (LEDs), Quartz Halogen Lamps, Gas Discharge Tubes.

By Product Type: Traditional Physiotherapy Lamps, Phototherapy Beds, Flexible Phototherapy Lamps.

By End User: Hospitals, Neonatal Clinics, Home Users.

By Geography: North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).

Key Takeaways

Neonatal Phototherapy Devices Market Segment Analysis – By Light Source:

The Neonatal Phototherapy Devices Market based on the light sources can be further segmented into Fluorescent Lamps, Light Emitting Diodes (LEDs), Quartz Halogen Lamps, and Gas Discharge Tubes. The Fluorescent Lamps Segment held the largest market share in 2021. This growth is owing to the extensive acceptance of fluorescent lamps for neonatal phototherapy in hospitals and clinics attributed to their accessibility in the market for a greater period of time than other light sources like light-emitting diodes (LEDs). The heightened application of phototherapy involving fluorescent lamps for the treatment of neonatal jaundice as a secure and efficient technique is further propelling the growth of the Fluorescent Lamps segment.

Furthermore, the Light Emitting Diodes (LEDs) segment is estimated to grow with the fastest CAGR of 4.5% during the forecast period 2022-2027 owing to the soaring advantages of LED phototherapy lamps like lower energy intake, a lengthier life span, and decreased costs than fluorescent lamps.

Neonatal Phototherapy Devices Market Segment Analysis – By End User:

The Neonatal Phototherapy Devices Market based on end-user can be further segmented into Hospitals, Neonatal Clinics, and Home Users. The Hospitals segment held the largest market share in 2021. This growth is owing to the rising predominance of neonatal jaundice requiring extensive neonatal phototherapy in hospitals. The effortless availability of trained medical professionals and specialists to handle neonatal phototherapy in hospitals is further propelling the growth of this segment.

Furthermore, the Home Users segment is estimated to grow with the fastest CAGR of 4.7% during the forecast period 2022-2027 owing to the surging benefits of home-based phototherapy involving cases of uncomplicated neonatal jaundice like decreased patient botheration, transportation costs, and hospital waiting time minimized direct and indirect healthcare costs and enhanced mother-baby bonding.

Neonatal Phototherapy Devices Market Segment Analysis – By Geography:

The Neonatal Phototherapy Devices Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. North America (Neonatal Phototherapy Devices Market) held the largest share with 35% of the overall market in 2021. The growth of this region is owing to the increasing predominance of neonatal jaundice and skin ailments in the North American region. The existence of well-established infrastructure, the accessibility of technologically developed treatment options, and several government initiatives to enhance the health of a newborn baby in the region are further propelling the growth of the Neonatal Phototherapy Devices Market in North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like surging awareness pertaining to progressive phototherapy and enhancing healthcare infrastructure in the Asia-Pacific region. The increasing predominance of neonatal jaundice in newborn babies is further fuelling the progress of the Neonatal Phototherapy Devices Market in the Asia-Pacific region.

Neonatal Phototherapy Devices Market - Drivers

Increasing Predominance Of Neonatal Jaundice Is Projected To Drive The Growth Of Neonatal Phototherapy Devices Market: 

As per WHO/Europe, Jaundice is defined as a yellow chromaticity of skin and mucous tissues owing to a raised level of total bilirubin in the blood. Further updates by WHO/Europe indicate that Jaundice is one of the most typical physical signs noticed at the time of the neonatal period is up to 50% of term newborns and 80% of preterm newborns. Phototherapy has been extensively utilized in the handling of Neonatal unconjugated Hyperbilirubinemia for over fifty years. Phototherapy devices involve Fluorescent Lamps, Halogen Lamps, Fiberoptic, or Light-Emitting Diode light sources. Hospital phototherapy is offered by traditional or fibreoptic lights as a treatment to decrease neonatal jaundice. The expanding pervasiveness of neonatal jaundice is therefore fuelling the growth of the Neonatal Phototherapy Devices Market during the forecast period 2022-2027.

Surging Application Of Neonatal Phototherapy Devices Is Expected To Boost The Demand For Neonatal Phototherapy Devices: 

Nearly 60% of term babies and 85% of preterm babies will develop clinically apparent jaundice, which typically becomes visible on day 3, peaks on days 5-7, and resolves by 14 days of age in a term infant and by 21 days in the preterm infant. Jaundice is brought about by bilirubin deposition in the skin. Nearly all jaundice in newborn infants is an outcome of raised red cell breakdown and reduced bilirubin excretion. Breastfeeding, haemolysis, and certain metabolic and genetic ailments also raise the hazard of jaundice. Phototherapy may be utilized to treat neonatal jaundice. Blue-green fluorescent light may be more efficient than blue fluorescent light at decreasing the need for phototherapy after 24 hours in healthy low-birth-weight babies with hyperbilirubinaemia in the earliest 4 days of life. Hospital phototherapy utilizing blue LED lamps may be more efficient at decreasing the count of hours spent under phototherapy in comparison with traditional phototherapy (utilizing halogen-quartz bulbs) in term and preterm infants. For distinct intensities of light, close phototherapy in comparison with distant light-source phototherapy may decrease the period of phototherapy and mean serum bilirubin level in infants with hyperbilirubinaemia. Light sources may include fluorescent lamps and quartz halogen lamps.  The surging application of neonatal phytotherapy devices is therefore driving the growth of the Neonatal Phototherapy Devices Market during the forecast period 2022-2027.

Neonatal Phototherapy Devices Market – Challenges

Challenges of Phototherapy For Neonatal Hyperbilirubinemia Are Hampering The Growth Of The Neonatal Phototherapy Devices Market:

Numerous investigations have recommended that phototherapy may bring out a series of short? and long-term adverse reactions linked with pediatric ailments, inclusive of hemolysis, allergic ailments, DNA injury, or even cancer. There have been intense adverse reactions to phototherapy for neonatal hyperbilirubinemia. Almost 8% to 11% of neonates develop hyperbilirubinemia. Excluding cases with serious jaundice, phototherapy may typically be disrupted to permit breastfeeding or parent visitations, to permit skin contact and mother-infant interaction, and decrease the anxiety of the parents. Additionally, phototherapy may temporarily influence the vision, hearing, and alertness of the newborn These issues are thus hampering the growth of the Neonatal Phototherapy Devices Market.

Neonatal Phototherapy Devices Industry Outlook:

Novel product launches, mergers & acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Neonatal Phototherapy Devices Market. Key companies of this market are:

GE Healthcare 

Atom Medical

Draeger

Koninklijke Philips N.V.

Natus Medical Incorporated

Ningbo David Medical

Shanghai Weyer Electric Co., Ltd

D-Rev

Novos Medical Systems

Advanced Instrumentations Inc.

Recent Developments

In November 2021, GE Healthcare paired AI with novel product launches and partnerships with Optellum and Cambridge. At the Radiological Society of North America’s continuing annual meeting, GE Healthcare not only revealed dozens of novel digital solutions to enhance patient screening, diagnostics, treatment, and monitoring but also contributed extra attention to numerous AI-powered technologies the firm has debuted in current months. The most novel of these is Critical Care Suite 2.0, an AI platform entrenched on a mobile X-ray device to spontaneously compute assessments at the time of scans, triage cases, and supervise quality controls.

In June 2021, at the Society of Nuclear Medicine and Molecular Imaging’s (SNMMI) 2021 summer conference, GE Healthcare demonstrated novel molecular imaging products and solutions and novel opportunities to expand access to radioactive tracers and additional pharmaceutical imaging agents with pride. This boost in access to the most recent and most creative accuracy diagnostics and radiopharmaceuticals – specifically with current FDA clearances of crucial novel therapies – can offer clinicians rare opportunities to make customized care decisions and treatment response evaluations that may assist in enhancing patient outcomes. As an example, GE Healthcare is increasing its U.S. distribution footprint of Vizamyl (flutemetamol F18) by twofold succeeding the FDA's current endorsement of Aduhelm™ (aducanumab), the earliest endorsed treatment for the decrease of beta-amyloid plaques linked with Alzheimer’s disease.

In February 2020, GE Healthcare launched a novel cybersecurity service offering that accumulates medical device knowledge, artificial intelligence, and process management tools to assist hospital groups in their combat against cybersecurity threats. The novel solution, termed Skeye, heightens hospitals’ existing resources and capacities by offering proactive supervision by way of a remote security operations center (SOC) – assisting them to discover, investigate and respond to cybersecurity threats and events in real-time.  As more devices become linked, cybersecurity hazard surges – and safety incidents can deeply influence an organization’s output, finances, quality of care, and character.

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Vascular Closure Devices Market - Forecast(2022 - 2027)

Vascular Closure Devices Market size is estimated to reach $1.4 billion by 2027, growing at a CAGR of 6.9% during the forecast period 2022-2027. Vascular closure devices are medical devices utilized to accomplish hemostasis of the tiny hole in the artery subsequent to a cardiovascular procedure of endovascular surgery needing a catheterization. Angio-Seal is a medical device designated for application in closing and minimizing time to hemostasis at the femoral arterial puncture site in patients who have endured diagnostic angiography procedures or interventional procedures (minimal artery diameter of 4mm). The VasoSeal hemostatic devices (VasoSeal Elite and VasoSeal ES; Datascope, Montvale, NJ) are collagen-based vascular closure devices that use a purified collagen plug to emphasize hemostasis. To redistribute these devices, a dilator and a sheath are collectively progressed over a guidewire to the surface of the femoral artery. Vascular surgical techniques involve a count of complicated and controversial operations carried out by the most distinguished vascular surgeons from across the globe. The surging acceptance of Vascular Closure Devices including hemostatic devices for diagnostic and therapeutic interferences that assist the progress of endovascular image-guided interferences to discover coronary heart disease is set to drive the Vascular Closure Devices Market. The capability of vascular closure devices to overpower complexities like extended bed rest and patient discomfort brought about by manual compression is set to propel the growth of the Vascular Closure Devices Market during the forecast period 2022-2027. This represents the Vascular Closure Devices Industry Outlook.

Report Coverage

The report: “Vascular Closure Devices Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Vascular Closure Devices Market.

By Product Type: Active Approximators (Clip-Based Devices, Suture-Based Devices, Plug-Based Devices), Passive Approximators (Hemostatic Pads & Patches, Compression Devices). By Mode Of Access: Femoral Access, Redial Access. By End User: Hospitals, Ambulatory Surgical Centers, Others. By Geography: North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).

Key Takeaways

Geographically, North America Vascular Closure Devices Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of cardiovascular diseases involving the application of hemostatic devices in cardiovascular devices in the North American region.

Vascular Closure Devices Market growth is being driven by the surging recognition of femoral artery cardiac catheterization and the soaring success rate of vascular closure devices for enhanced patient comfort and decreasing hemostasis time. However, in the developing regions of South America and Asia-Pacific, determinants like the soaring price of products, complexities linked with vascular closure devices,s and lesser acceptance rates of new technologies are some of the major factors hampering the growth of the Vascular Closure Devices Market. 

Vascular Closure Devices Market Detailed Analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Vascular Closure Devices Market report. 

Vascular Closure Devices Market: Market Share (%) by Region, 2021

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Vascular Closure Devices Market Segment Analysis – By Product Type:

The Vascular Closure Devices Market based on product type can be further segmented into Active Approximators and Passive Approximators. The Active Approximators Segment held the largest market share in 2021. This growth is owing to the surging application of active approximators attributed to the diminished time to ambulation. Clip-Based Devices, Suture-Based Devices, and Plug-Based Devices are categories under Active Approximators and Angio-Seal includes two hemostatic techniques namely, active approximation and thrombosis. The soaring efficiency rate in comparison with manual compression is further propelling the growth of the Active Approximators segment.

Furthermore, the Passive Approximators segment is estimated to grow with the fastest CAGR of 7.5% during the forecast period 2022-2027 owing to the surging application of compression assisted devices, which accomplish hemostasis without inserting a retained suture, clip, or plug, and passive approximators like Angio-Seal.

Vascular Closure Devices Market Segment Analysis – By End User:

The Vascular Closure Devices Market based on end-user can be further segmented into Hospitals, Ambulatory Surgical Centers, and Others. The Hospitals segment held the largest market share in 2021. This growth is owing to the surging application of Vascular Closure Devices as a secure and cost-effective technique to accomplish accelerated hemostasis and early ambulation subsequent to angiographic techniques. Angio-Seal® vascular closure device-induced acute arterial closure has been successfully treated percutaneously with the SilverHawk® plaque excision system. The effortless accessibility of well-established infrastructure and availability of skilled physicians in hospitals are further propelling the growth of this segment.

Furthermore, the Ambulatory Surgical Centers segment is estimated to grow with the fastest CAGR of 7.8% during the forecast period 2022-2027 owing to the extensive application of Vascular Closure Devices like Angio-Seal in ambulatory care.

Vascular Closure Devices Market Segment Analysis – By Geography:

The Vascular Closure Devices Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. North America (Vascular Closure Devices Market) held the largest share with 35% of the overall market in 2021. The growth of this region is owing to the surging assortment of opportunities drawing novel investors in the North American region. Angio-Seal is a closure device utilized for halting the bleeding subsequent to angiography techniques like cardiac catheterization. The proliferating demand for sophisticated medical devices is further propelling the growth of the Vascular Closure Devices Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like surging development in developing economies like India and China in the Asia-Pacific region. The existence of unfamiliar areas and unfulfilled patient requirements drawing the attention of key players and the surging application of closure devices like Angio-Seal is further fueling the progress of the Vascular Closure Devices Market in the Asia-Pacific region.

Vascular Closure Devices Market - Drivers

Surging Investigations Involving Vascular Closure Devices Are Projected To Drive The Growth Of the Vascular Closure Devices Market:

Vascular closure devices (VCDs) are planned to accomplish accelerated hemostasis at the time of percutaneous coronary and peripheral vascular techniques. Investigations show that VCDs enhance time to hemostasis (TTH) and time to ambulation (TTA) when compared to standard manual compression. The investigation assessed AbsorbaSeal™ (CyndRx, LLC, Brentwood, Tennessee), a clear, three-step, VCD with bio-absorbable constituents. The investigation concluded that the AbsorbaSeal™ is secure and simple to utilize for vascular closure subsequent to interventional vascular techniques with favorable results inclusive of a short TTH, minimum procedural blood loss, low postoperative pain scores, and no perioperative complexities or adverse impacts. Histologic assessment discloses accelerated device absorption and little scar formation both short- and long-term. A direct investigation of complement activation backs that AbsorbaSeal™ induces a minimal inflammatory response that is considerably less than Angio-Seal. Application of AbsorbaSeal™ 5.6.7F vascular closure device in a good laboratory practice chronic investigation assessing safety and efficiency in a healthy porcine model have demonstrated the following results. In the deployment of 24 AbsorbaSeal™ 5.6.7F VCDs, there were nil device-associated complexities or mortalities. All deployments led to accelerated arteriotomy seal (100% deployment success), with a mean time to hemostasis (cessation of arterial flow) of 21.5 s (median: 6.5 s) across a mean activated clotting time (ACT) of 356 s. Twenty of the 24 implant sites (83%) accomplished complete hemostasis within 20 s. These kinds of surging investigations involving Vascular Closure Devices are therefore fuelling the growth of the Vascular Closure Devices Market during the forecast period 2022-2027.

Novel Product Launches Involving Vascular Closure Devices Are Expected To Boost The Demand For Vascular Closure Devices:

Devices like Angio-Seal are currently in application. Angio-Seal is on the market for >20 years, with approved favorable device deployment and efficiency in plentiful clinical randomized trials:

99.7% deployment success

97.8% hemostasis by device

In November 2018, Cordis, a Cardinal Health firm, introduced its Mynx Control vascular closure device onto the U.S. market. A press release reported that the Mynx Control vascular control device combines active extravascular sealing and resorbability characteristics with a next-generation delivery system to augment predictability, security, and ease of application in sealing 5–7Fr femoral arterial access sites. The press release further indicates that the vascular closure device characterizes a next-generation deployment system that is planned for predictable deployment and ease of application. It will be accessible in 5Fr and 6/7Fr sizes. The novel product launches involving Vascular Closure Devices are therefore driving the growth of the Vascular Closure Devices Market during the forecast period 2022-2027.

Vascular Closure Devices Market – Challenges

Soaring Cost Of Vascular Closure Devices Are Hampering The Market Growth:

Presently, it is supposed that only 20-25% of all catheter-based procedures carried out globally use a vascular closure device (VCD) for access site hemostasis. The boost in interventional techniques utilizing radial access, the soaring cost of vascular closure devices, and the hazards related to vascular closure devices are the principal limitations to the growth of the market. The requirement for greatly skilled professionals is challenging the growth of the market. A massive count of catheter-based techniques is carried out without vascular closure devices owing to a dearth of operator knowledgeableness, the hazard of complexities, and cost. Most vascular closure devices are authorized for arteriotomies between 5 and 8F, with 1 device authorized for up to 21F. Principal complexities are inclusive infection and limb ischemia. These issues are thus hampering the growth of the Vascular Closure Devices Market.

Vascular Closure Devices Industry Outlook:

Product launches, mergers and acquisitions, financing in R&D, and novel market initiatives are key strategies adopted by players in the Vascular Closure Devices Market. Key companies in this market are:

Abbott

Terumo Corporation

Cardinal Health Inc.,

Teleflex

Merit Medical System

Cardiva Medical, Inc.

Biotronik GMBH & CO.KG

Scion BioMedical

Medtronic

Cook Medical

Recent Developments

In July 2021, Terumo Corporation declared the introduction of the Dexcom G6 continuous glucose monitoring (CGM) system in Japan. U.S.-based Dexcom, Inc., makes the product, and Terumo holds the exclusive distribution agreement in Japan since their partnership in 2018. A CGM system is a medical device that backs diabetes regulation.

In December 2020, Cook Medical declared the introduction of a novel Customer Portal to offer an improved digital and self-serve customer experience. This user-friendly Customer Portal provides numerous characteristics, certain vary relying on region, which provide customers information and interactive operations. The Customer Portal has been introduced in the U.S. and EMEA regions earlier this year and is presently being launched to their clients in the Asia-Pacific region.

In April 2020, Abbott has introduced its third test for coronavirus (COVID-19) and is transporting tests to hospitals across the U.S. The test is a serology test – also termed an antibody test – which could be a crucial next step in combating this virus. Abbott's test assists to discover the IgG antibody to SARS-CoV-2.

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Medical & Pharmaceutical Gases & Equipment Market - Forecast, 2022-2027

Medical & Pharmaceutical Gases & Equipment Market size is estimated to reach $25.4 billion by 2027, growing at a CAGR of 6.2% during the forecast period 2022-2027. Medical and pharmaceutical gases can be delineated as fluids or specialized gases that are taken into account for performing several medical procedures, research, and manufacturing activities in the biopharmaceutical industry. Furthermore, gases equipment is the hardware or assemblies used to storm the gases and supply them when needed. Equipment such as cylinders, valve with integrated pressure regulators, vacuum insulated evaporators, and flow meters are considered in handling the storage and delivery of gases. Besides, storing and maintaining a constant supply few devices such as anaesthetic gas scavenging systems work as scavengers by removing the mixture of gases out of storage facilities and operating rooms in order to keep medical staff exempt from their exposure. Generally, oxygen, helium, argon, nitrogen, and compressed air are used as medical gases when performing therapeutic treatments and anesthetic procedures. Furthermore, gas equipment is the hardware or assemblies used to store the gases and supply them when needed. The medical & pharmaceutical gases & equipment market outlook is exceptionally enchanting ascribing to their colossal demand. Augmenting chronic ailments such as cardiovascular hitches, road tragedies, and mounting research and development spending are factors set to drive the growth of the Medical & Pharmaceutical Gases & Equipment Market for the period 2022-2027. 

Report Coverage

The ort: “Medical & Pharmaceutical Gases & Equipment Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Medical & Pharmaceutical Gases & Equipment Market.

By Composition: Concentrate/Pure gases (Nitrogen, Helium, Carbon dioxide, Oxygen, and others), Dilute/Mixture gases (Blood gas mixtures, Sterilant gas mixtures, lung diffusion mixtures, and others). By Application: Therapeutics, Anesthetic, and Research. By Equipment Type: Masks, Manifolds, Air compressors, Cylinders, Hose assemblies, Flowmeters, and Others. By End User: Hospitals, Clinics, Cancer treatment centers, ASCs, Biotech Industries, and Others. By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways

Geographically, the North America Medical & Pharmaceutical Gases & Equipment Market accounted for the highest revenue share in 2021. However, Asia-pacific is poised to dominate the market over the period 2022-2027.

Enlarging the elderly population, a frantic upsurge in the prevalence of cardiovascular complications CVDs is said to be a preeminent driver driving the growth of the Medical & Pharmaceutical Gases & Equipment Market. whereas, health problems associated with medical gases are said to reduce the market growth.

Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Medical & Pharmaceutical Gases & Equipment Market report.

Medical & Pharmaceutical Gases & Equipment Market Share, By Geography (%) in 2021

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Medical & Pharmaceutical Gases & Equipment Market Segment Analysis-By Composition

The Medical & Pharmaceutical Gases & Equipment Market based on the composition type can be further segmented into concentrate/Pure gases (Nitrogen, Helium, Carbon dioxide, Oxygen, and others), dilute/mixture gases (Blood gas mixtures, Sterilant gas mixtures, lung diffusion mixtures, and others). The concentrate gases segment held the largest share in 2021. The growth is owing to humongous demand as chronic obstructive pulmonary diseases are coming to the foreground like never before. COPD maladies like emphysema and chronic bronchitis are so severe that they inflict irreparable damage to the lungs which can’t be cured. Therefore, patients suffering from such conditions required constant medical care and treatment. On another hand, cases associated with cardiac arrest and trauma have heightened the use of medical oxygen. It can’t be proclaimed that only the pure gases segment will witness growth aspects over the undermentioned time frame because both of these gases’ usage go hand-in-hand. Mixture gases play a significant role in the maintenance of devices that distributes anesthetic gases. Moreover, they are also taken into consideration during lung diagnosis. Therefore, the concentrated along with dilute segment is estimated to be the fastest-growing segment with a CAGR of 7.8% over the forecast period 2022-2027.

Medical & Pharmaceutical Gases & Equipment Market Segment Analysis-By End User

The Medical & Pharmaceutical Gases & Equipment Market based on end-user can be further segmented into hospitals, clinics, cancer treatment centers, ASCs, biotech Industries, and others. The hospital segment held the largest share in 2021. The growth is owing to broadening hospitalization trends as chronic illnesses are on the loose and roaming around the globe. Moreover, the COVID-19 has played a significant role in upsurging hospitalization. Many COVID patients witness lower levels of oxygen in the blood which drives the tissues and organs of the body to starve. This condition obligates constant access to oxygen. Therefore, to meet the shooting up demand hospitals are supposed to be in a fit state all the time to meet the requirements. In today’s world hospitals have a far-reaching presence throughout the countries whether it’s a city or pastoral area it doesn’t matter. That is why they have become the first and foremost point of contact for people who want to undergo some sort of treatment. Moreover, the hospital segment is estimated to be the fastest-growing segment with a CAGR of 7.3% over the forecast period 2022-2027. This growth is owing to the enlightening infrastructure of hospitals with heightened government spending post-COVID-19.

Medical & Pharmaceutical Gases & Equipment Market Segment Analysis-By Geography

The Medical & Pharmaceutical Gases & Equipment Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 36% of the overall market in 2021. The growth in this segment is owing to the factors such as the heavy pervasiveness of asthma. The US dominates when it comes to bronchial asthma due to widespread obesity. According to the American Lung Association, being overweight can narrow the lungs by encircling pressure and set breathing difficulties in motion. More than 40% of adults in the US are obese. Similarly, gun violence leads to thousands of injuries every year, and the immense spread of cancer cases especially breast and lung cancer are quite high which is also driving the growth in the respective segment. However, Asia-pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the soaring elderly population which is shooting up the incidences of heart attack and cancer. Besides cancer and heart attack the worst air quality is another big factor behind amplified hospitalization. India and China are home top cities with the worst particulate matter (PM2.5) concentration which impairs the lungs of residents more than 30 times the WHO satisfactory levels. According to a report published in 2021, Asia is the epicenter of the most polluted cities worldwide. Out of the most 100 polluted cities all around the globe, 46 lie in India, and 42 are situated in China. Considering the aforementioned factors, the number of people afflicted with chronic obstructive pulmonary disease (COPD) is rising.

Medical & Pharmaceutical Gases & Equipment Market Drivers

Shooting up chronic illnesses is Anticipated to Boost Product Demand. 

Jumping incidences of chronic illnesses is a major factor behind the growth of the medical & pharmaceutical gases and equipment market. According to the report, chronic maladies like heart attack and cancer are the biggest reason for increased mortality rates all over the globe. More than 600,000 people die from heart attacks in the US. Moreover, around 17-18 million lose their lives due to coronary heart diseases worldwide. Now as a major faction of the total world population is turning old these numbers are anticipated to witness a spike before long. It is estimated that are going to be 1-2 billion old people on this planet before long. All these factors are contributing their fair share to the growth of the aforementioned market.

Augmenting obesity and hospitalization ascribing to COVID-19 are Expected to Boost Product Demand.

COVID-19 is the prime reason behind the increased hospitalization in the last two years. Studies have found a direct link between COVID-19 and respiratory distress syndrome (ARDS) as the lungs are the most overwhelmed organ of the body. On another hand, the prevalence of chronic obstructive pulmonary disease (COPD) has become so common that every year India record more than 10 million cases. Likewise, the U.S. has recorded 16 million cases in 2021. Moreover, the budding trend of obesity due to poor intake and reduced activity is another reason driving the growth of the respective market.

Medical & Pharmaceutical Gases & Equipment Market Challenges

Health complications associated with medical gases are Anticipated to Hamper Market Growth.

Although incidences of serious health hitches associated with medical gases occur once in blue moon but still in many cases inhalation of gases like carbon dioxide and nitrous oxide can erupt many severe health complications which can be factor incongruent with the growth of medical & pharmaceutical gases & equipment market. CO2 exposure sets health hitches like tingling, asphyxia, uneven heartbeat, convulsion, and nuisances in motion. According to National Center for Biotechnology Information, the incidence of birth asphyxia in most developed countries accounts for less than 0.1% of newborn deaths. But, in developing countries, it ranged from 4.6/1000 to 7–26/1000 live births. More than 25.0% of the world's newborn deaths have occurred in Africa. Of those, birth asphyxia accounts for 24.0%. Moreover, excess nitrous oxide may give rise to nerve damage, coma, seizures, and loss of life in some cases.

Medical & Pharmaceutical Gases & Equipment Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Medical & Pharmaceutical Gases & Equipment Market. Key companies in this market are-

Linde Group

BeaconMeadaes LLC

Air Liquide

BPR Medical

INOX Air products

Praxair

Gulf Cryo

Messer group

Taiyo Nippon Sanso

Atlas Copco

Recent Developments

On April 19, 2022, FDA approved GE Healthcare software that automates anesthesia and reduces greenhouse gas emissions during surgery. The software is cleared for use with GE Healthcare’s Aisys CS2 anesthesia delivery system.

On May 11, 2021, Sweden-based company “Atlas Copco” which develops and manufactures air compressors announced that it has successfully acquired North Carolina, United States-based company “Compressed air system Inc.” the financials of this deal were kept hidden but the acquisition is supposed to extend several advantages to Atlas Copco to enhance its overall reach to its customers.

On April 3, 2019, German industrial gas supplier “Messer Group” and British equity and investment company “CVC Capital partners” concluded an acquisition deal with “Linde.” Under the deal, Messer acquired many gases businesses which are located in America from Linde. The total value of this transaction was around $3.3 billion.

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Telemonitoring Systems Market - Forecast, 2022-2027

Telemonitoring Systems Market Size is estimated to reach $6.1 billion by 2027. Furthermore, it is poised to grow at a CAGR of 13.5% over the forecast period of 2022-2027. Telemonitoring is the process of healthcare monitoring by transmitting symptom scores as well as physiological patient data such as heart rate, oxygen saturation, blood pressure monitoring, and other measurements. Patients and professionals can use telemonitoring systems to get regular readings on a variety of clinical and physiological markers. This strategy has the potential to provide access to specialist care in places where health professionals are scarce or health services are unavailable. It has the potential to improve the quality of life of chronic disease patients while also lowering healthcare costs. Remote counseling and radiation services assist reduce wait times, optimizing resources, and boosting productivity. A telemonitoring systems is a medical diagnosis device that uses a physician's communication technology to remotely check, diagnose, and monitor a patient's health at home. Physicians can monitor important patient data and evaluate the patient's symptoms, condition, and other medical factors using Telemonitoring Systems at any time. In the market under investigation, the use of IoT is generating a substantial new trend. IoT-enabled medical wearable temperature sensors, for example, can send data to a central monitoring system from afar. According to the Centers for Disease Control and Prevention (CDC), hypertension affects approximately 100 million people in the United States. Hypertension raises the risk of heart disease even more. The American Heart Association (AHA) also backs projects to expand access to remote patient monitoring (RPM) technology for better health management, which is set to further enhance the overall market developments of the Telemonitoring Systems Market for the forecast period 2022-2027.

Telemonitoring Systems Market Report Coverage

The report: “Telemonitoring Systems Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Telemonitoring Systems Market.

By Product Type: Remote Glucose Level Monitoring Systems, Remote COPD Monitoring Systems, Remote Cardiac Monitoring Systems, Remote Blood Pressure Monitoring Systems, and Others.

By Application: Cancer, Cardiovascular Diseases (CVD), Diabetes, Sleep Disorders, Weight Management & Fitness Monitoring, Bronchitis, Infections, Dehydration, Hypertension, and Viral Diseases.

By End User: Long-Term Care, Home Care, Hospital Care Facilities, and Others.

By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

Geographically, North America held a dominant market share in the year 2021, as the number of people using these systems grows in the United States A robust economy and a growing trend in in-home care facilities and Healthcare monitoring are driving demand for telemonitoring systems in the United States.

The Telemonitoring Systems Market is predicted to increase owing to the demand for improved remote patient monitoring measures and the integration of information technology and monitoring equipment.

However, the key factor that is likely to stifle the target market's growth is the difficulty in understanding the technology over the forecast period 2022-2027.

A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Telemonitoring Systems Market Report.

 Telemonitoring Systems Market: Market Share (%) by region, 2021

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Telemonitoring Systems Market Segmentation Analysis- By Product Type

Telemonitoring Systems Market based on product type can be further segmented into Remote Glucose Level Monitoring Systems, Remote COPD Monitoring Systems, Remote Cardiac Monitoring Systems, Remote Blood Pressure Monitoring Systems, and Others. The Remote Cardiac Monitoring Systems segment held a dominant market share in the year 2021. Telemonitoring is anticipated to rise at a consistent rate in heart disease patients as it reduces costs by considerably lowering emergency hospitalization, provides continuous monitoring, and allows patients to receive accurate treatment. The impact of telemonitoring technologies and their ability to alleviate the rising burden of chronic diseases, such as chronic cardiovascular disease (CVD), on healthcare systems has stimulated interest. CVD is believed to be one of the world's leading killers, claiming the lives of more than 17.5 million people worldwide. As a result of the increased health risks, remote cardiac monitoring systems are becoming more popular.

However, the Remote COPD Monitoring Systems segment is expected to grow at the quickest rate between 2022 and 2027, with a CAGR of 14.1%. According to the World Health Organization, chronic obstructive pulmonary disease (COPD) is the third greatest cause of death worldwide, accounting for 3.23 million deaths in 2019. COPD is also known as "emphysema" and "chronic bronchitis." Emphysema is a condition in which the little air sacs at the end of the airways in the lungs are destroyed. Indoor air pollution: biomass fuel (wood, animal dung, crop residue) or coal is frequently used for cooking and heating in low- and middle-income countries with high levels of smoke exposure; asthma in childhood; and a rare genetic condition called alpha-1 antitrypsin deficiency, which can cause COPD at a young age.

Telemonitoring Systems Market Segmentation Analysis- By End User

Telemonitoring Systems Market based on end user can be further segmented into Long-Term Care, Home Care, Hospital Care Facilities, and Others. The Hospital Care Facilities segment held a dominant market share in the year 2021. This is owing to the enormous number of patients and tests that are carried out at hospitals. Vendors of telemonitoring solutions are increasingly collaborating with government and healthcare organizations to promote the adoption of these systems. In April 2020, GE Healthcare and Microsoft will deploy a cloud-based COVID-19 patient monitoring platform for health systems, extending their long-standing partnership. The program is intended to serve as a central point for hospital personnel to monitor patients in intensive care units.

However, Home care is expected to grow at the quickest rate between 2022 and 2027, with a CAGR of 14.3%. Patients, particularly those with chronic conditions, are often recommended to minimize physical trips to hospitals owing to the risk of infection. As a result, the market for remote patient monitoring systems has grown. Firms make a significant amount of investments via cooperating, acquiring, and partnering with new developing businesses to develop oxygen saturation devices. Philips and BioIntelliSense, for example, signed a strategic partnership in July 2021 to improve remote patient monitoring technologies. Philips has included the BioSticker gadget from the latter in its remote patient monitoring (RPM) portfolio. It's a wearable device that keeps track of COVID-19 symptoms while also monitoring chronic diseases. This is also anticipated to contribute to market expansion throughout the forecast period 2022-2027.

Telemonitoring Systems Market Segmentation Analysis- By Geography

The Telemonitoring Systems Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 35% in the year 2021. Along with the rising popularity of home nursing facilities and the availability of hospital treatment, particularly in the United States. Furthermore, increasing patient awareness, technological breakthroughs in Healthcare monitoring and medical diagnosis, and disease incidence are all on the rise in this region's countries. Owing to advantages such as precise diagnosis with easy technical access, rising awareness about medical diagnosis, and increased adoption of technologically sophisticated products, oxygen saturation devices, and services across various countries in Europe and Asia-Pacific are predicted to expand in the Telemonitoring Systems Market.

Furthermore, the Asia-Pacific is estimated to grow with the fastest CAGR over the forecast period 2022-2027. According to a survey by the United Nations Population Fund and HelpAge India, the country's old population is predicted to reach 173 million by 2026. Several players are being pushed to innovate and launch new telemonitoring systems as a result of these circumstances. For instance, Abbott offers patients in India access to a smartphone-compatible Insertable Cardiac Monitor (ICM). The technique is intended to aid physicians in detecting heart arrhythmias remotely.

Telemonitoring Systems Market Drivers

The Market Is Being Driven by Rising Chronic Disease Rates and Ageing Population.

The world population is rapidly aging as a result of different government programs aimed at accelerating the longevity revolution. The majority of wealthy countries are seeing an increase in the number of elderly people. According to UN estimates, there were 703 million people aged 65 and more in 2019, with that number anticipated to rise to 1.5 billion by 2050. The incidence of chronic diseases is rising over the world, particularly in terms of hypertension, diabetes, and respiratory difficulties. According to the International Diabetes Federation, 463 million adults had diabetes in 2019, and this number is anticipated to rise to 700 million by 2045. Furthermore, diabetes affects one out of every 5 persons over the age of 65.

The Market Is Being Driven by Rising Consumer Spending on Healthcare.

Over the years, worldwide Medicaid spending has risen dramatically. The global Medicaid expenditure in 2019 was valued at USD 639.4 billion, up from USD 616 billion in the year 2018, according to CMS. Further, a significant share of global healthcare spending is directed toward the purchase of equipment. For instance, in 2019, the UK's consumer spending on medical products, appliances, and equipment was valued at $23,023 million, according to the Office for National Statistics (UK). Such developments are likely to have an impact on telemonitoring demand.

According to the International Diabetes Federation, healthcare expenditures for diabetes treatment in the United States were valued at USD 294.6 billion in 2019 and USD 109 billion in China. Such growth is anticipated to further augment the demand for monitoring devices by patients undergoing the treatment.

Telemonitoring Systems Market Challenges

Market Growth is Being Hindered by Higher Installation and Maintenance Costs.

During the projected period, higher installation and maintenance expenses are anticipated to re-enable global Telemonitoring Systems Market growth. Technical concerns, user interface issues, and security issues, such as data loss and confidentiality, are all potential downsides. All of these problems, taken together, limit the adoption of telemonitoring systems. As per Pew Research Center, around 79% of Americans are concerned about how their data is utilized by companies or the government Other challenges that are anticipated to stymie growth in the worldwide Telemonitoring Systems Market include privacy and information security concerns.

Telemonitoring Systems Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Telemonitoring Systems Market. The top 10- Telemonitoring Systems Market companies are-

Allscripts Healthcare Solutions Inc.

 Abbott Laboratories

AMD Global Telemedicine, Inc.

General Electric Company

Care Innovations LLC

InTouch Health

Honeywell Life Care Solutions

McKesson Corporation.

Koninklijke Philips NV

Medtronic Plc

Recent Developments

In January 2022, Abbott Laboratories launched a health wearables Lingo product line outside of the U.S. This product can be used to track diet and exercise. It uses FreeStyle Liber technology, which uses the sensor to measure glucose, ketones, and lactate for tracking diet and exercise.

In April 2021, Care Innovations has entered into an agreement with Merck KGaA to work in combination with its human growth hormone (HGH) treatment system. Under the agreement, PRA’s remote patient monitoring platform backs Merck KGaA, HGH treatment system, including growlinkTM. This agreement is aimed to deliver a better product experience and scale for future enhancements.

In March 2020, Medtronic plc has announced its Medtronic Care Management Services business is launching two new solutions. These solutions are designed to help assess, monitor, and triage support for patients who are concerned about their respiratory symptoms. The company is working on alternative approaches to disease monitoring, and patient education to reduce additional population exposure.

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Big Data Analytics In Healthcare Market - Forecast, 2022-2027

Big Data Analytics In Healthcare Market size is estimated to reach $51.6 billion by 2027, growing at a CAGR of 9.3% during the forecast period 2022-2027. Big data analytics can be delineated as a field that makes use of state-of-the-art analytics methods to study data that is too big (i.e., in terabytes and zettabytes), multifaceted, and miscellaneous to develop an understanding about. Therefore, uncovering the veiled patterns and relationships between the heterogeneous data or provided information helps healthcare facilities to make rational choices. In contemporary times, healthcare operations have changed as almost every medical facility uses a healthcare information system to manage the data they have in a better and more effective way. These healthcare management systems include electronic medical records, patient monitoring, patient portal, medical billing software, and others. However, traditional data mining makes use of a very limited amount of internal (structured) data which is engendered by these healthcare information systems or enterprise resource planning systems (ERP), nevertheless, big data analytics is considered to have enormous potential in healthcare information system (HIS). Therefore, implementation of such contemporary techniques helps in reducing the overall cost, better diagnosis of maladies, and eventually condensing the readmissions of patients by offering an effective cure. The prevailing use of EHRs, proliferating healthcare spending, and accruing hospitalizations have highlighted the necessity of big data analytics in healthcare which are factors set to drive the growth of Big Data Analytics in the Healthcare Market for the period 2022-2027.

Report Coverage

The report: “Big Data Analytics In Healthcare Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of Big Data Analytics in the Healthcare Market.

By Analytics Type: Investigative/Diagnostic, Descriptive, Prescriptive, and Analytical/Predictive. By Deployment: Cloud and On-Premise. By Application: Supply chain analytics, Transactional data assessment, Risk management analytics, Clinical data analytics, financial analytics, Operational Analytics, and others. By End User: Clinics, Hospitals, Insurance agencies, Research Facilities, and Other medical facilities. By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways

Geographically, the North America Big Data Analytics In Healthcare Market accounted for the highest revenue share in 2021. It is poised to dominate the market over the period 2022-2027.

The availability of cloud facilities, augmenting the prevalence of diseases and viruses worldwide is said to be a preeminent driver driving the growth of Big Data Analytics in the Healthcare Market. However, a lack of skilled professionals and security threats are said to reduce the market growth.

Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Big Data Analytics In Healthcare Market report.

Big Data Analytics In Healthcare Market Share, By Geography (%) in 2021

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Big Data Analytics In Healthcare Market Segment Analysis-By Analytics

The Big Data Analytics In Healthcare Market based on analytics type can be further segmented into investigative/diagnostic, descriptive, prescriptive, and analytical/predictive. The descriptive segment held the largest share in 2021. The growth is owing to its usefulness in answering questions like “What is happening or what has happened?”. Descriptive analytics dig deep into the past behavior of the organizations to assess the relative positive or negative impacts. This tool has emerged as the most common form of data analytics as it has become a vibrant part of over 80% of organizations in the modern-day world. For any business, judging the relative importance of their past behavior is of utmost significance as it might assist in future courses. Based on data provided by descriptive analytics businesses can enhance their revenue by introducing required changes in their commonplace operations, marketing strategies, inventory-related decisions, and many more. Nevertheless, prescriptive analytics is estimated to be the fastest-growing segment with a CAGR of 11.2% over the forecast period 2022-2027. Leaving all 3 types behind, prescriptive analytics is the most advanced form of data analytics. Rather than briefing about “What happened and How it happened?” it talks about “What businesses should do in the future?” As Prescriptive analytics make use of state-of-the-art and up-to-the-minute technologies like artificial intelligence, deep and machine learning it has appeared as the most proficient tool in divulging the future consequences of organizations’ present actions.

Big Data Analytics In Healthcare Market Segment Analysis- By End User

The Big Data Analytics In Healthcare Market based on end-user can be further segmented into clinics, hospitals, insurance agencies, research facilities, and other medical facilities. The hospital segment held the largest share in 2021. The growth is owing to the far-reaching usage and demand of big data analytics in the healthcare sector. Healthcare facilities especially hospitals are home to an awe-inspiring sum of unprocessed data. Therefore, with an aim to process the data and figure out useful information, hospitals trust advanced analytics tools such as machines and deep learning. After processing, they found themselves in a much better place to make a rational decision which eventually give rise to improved patient cares, illness investigation, precise diagnosis and treatments, and improved management. The hospital segment is estimated to be the fastest-growing segment with a CAGR of 10.6% over the forecast period 2022-2027. This growth is owing to heightening demand for medical procedures as several life-threatening diseases such as cancer, heart attack, and transmissible virus (COVID 19) have come to the forefront on an unprecedented scale.

Big Data Analytics In Healthcare Market Segment Analysis-By Geography

The Big Data Analytics In Healthcare Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 37% of the overall market in 2021. The growth in this segment is owing to the factors such as the presence of leading computer technology companies. Moreover, full-fledged economies promise heavy cash flows in research from the government. Not just the government but leading players like IBM, Oracle, Stryker, and others are so stable financially that they allocate billions of dollars to research from time to time. On another hand, the US is home to thousands of top-notch healthcare companies, therefore, heightened competition has driven these players to espouse contemporary technologies before long to gain a strategic edge over their competition. Nevertheless, North America is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the escalating burden of cardiovascular maladies and COVID-19 cases are shaking the U.S. healthcare infrastructure and driving medical facilities toward big data analytics to better handle the crisis at hand.

Big Data Analytics In Healthcare Market Drivers

Upsurging demand for contemporary medical facilities with a broadening prevalence of illnesses is Anticipated to Boost Product Demand.

The soaring COVID-19 mutations have bewildered medical practitioners. The altered behavior of protein spikes of SARS-Cov-2 is making it evident that the virus is here to stay for long. Therefore, healthcare facilities are relying upon big data analytics in order to find a stable cure by developing an understanding of the same. Not just medical facilities but governments are tying up with respective market players to assess the number of infections, recovery rates, percentage of vaccinations, and many more. Besides, COVID-19 hospitalizations, the world is reeling under the weight of cancer and other maladies. For instance, the U.S. recorded over 1 million cases of cancer with more than 600,000 deaths in 2021. Therefore, the importance o big data analytics in healthcare is plunging day after day.

The convenience of cloud services and Rising research spending is Expected to Boost Product Demand.

Cloud computing has proliferated the overall trend of on-demand computing services in healthcare. Storing on-premises and hiring a proper management team increases the expenditure and adds extra burden on your resources, therefore, companies prefer clod services. On another hand, companies in the respective sector are investing billions of dollars in research which is anticipated to be a potent driver of big data analytics in the healthcare market. For instance, in quest of achieving breakthroughs in quantum computing IBM spent more than $6 billion in 2020. Moreover, with a gradual year-on-year increase in research spending Stryker, a medical technology company reached $987 million in 2020.

Big Data Analytics In Healthcare Market Challenges

Lack of skilled professionals and data security threats are Anticipated to Hamper Market Growth.

There are many data security issues associated with cloud-based services. Verizon's 2020 Data Breach Investigations Report found that 86 percent of the data breaches were motivated by financial reasons, while 10 percent were cyber espionage. In 2020, 17 percent of breaches involved malware, 22 percent featured phishing attacks, and 45 percent were hacking. It may put the personal health information of patients, business secrets, and other sensitive information in the wrong hands. Therefore, the issue of vulnerable security is a preeminent factor anticipated to encumber the growth of big data analytics in the healthcare market. On another hand, the lack of skilled professionals in the respective field might play a fair contribution in slowing down the steady growth in the respective market. 

Big Data Analytics in Healthcare Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Big Data Analytics In Healthcare Market. Key companies of this market are-

GE Healthcare

Dell EMC

IBM Technology Company

Epic System Corporation

Hewlett Packard Enterprise

Microsoft Corporation

Optum Inc.

Allscripts Healthcare Solutions, Inc.

Oracle Corporation

Stryker Corporation

Recent Developments

On January 7, 2022, Michigan, United States-based medical technology company “Stryker”, announced that the company is going to acquire US-based company “Vocera Communications” before long. Moreover, during financials reveal company said it will pay around $3 billion with $79.25 per share in order to wrap up the process.On December 22, 2021, California, United States-based computer technology company “Oracle Corporation” announced the acquisition of US-based health information technology company “Cerner.” A total $28.3 billion payment was made by Oracle in order to wrap up the acquisition process. Moreover, the existing shareholders of Cerner received $95 per share.On July 19, 2019, New York, United States-based world-famous computer company “International Business Machines” announced the successful acquisition of Connecticut, United States-based software company “Red Hat.” In order to bring the biggest acquisition ever in the company’s history to a close IBM made a payment of $34 billion.

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Vitamin A Market - Forecast(2022 - 2027)

The Vitamin A market size is estimated to reach $ 615.56 million by 2027, growing at a CAGR of 4.8% during the forecast period 2022-2027. Vitamin A is a group of fat-soluble nutritional compounds such as retinol, retinal and various provitamin A carotenoids. Vitamin A is essential for maintaining healthy skeletal and soft tissue, skin and mucus membranes. In addition, they are crucial for ensuring good eyesight in low light as vitamin A helps in the production of pigments in the retina. Moreover, the vitamin is also vital for maintaining optimal health in animals as they help increase fertility, muscle development and enhance skin and coat quality. The rise in use of vitamin A in functional foods and beverages is anticipated to drive the market during the forecast period. However, difficulties supplying vitamin A supplements to low-income countries owing to the COVID-19 pandemic is a major challenge for the market during the forecast period. 

Report Coverage

The report: “Vitamin A Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Vitamin A Market. 

By Type: Feed Grade Vitamin A, Food Grade Vitamin A, and Pharmaceutical Grade Vitamin A. 

By Application: Functional Food & Beverages, Pharmaceutical, Animal Feed, Cosmetics and Others. 

By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, New Zealand, and Rest of Asia-Pacific) and Rest of World (Middle East, South America and Africa).

Key Takeaways

Geographically, the North American Vitamin A market accounted for the largest share in 2021 owing to the rise in health consciousness among the population during the COVID-19 pandemic. 

Rise in the use of vitamin A fortified food products is driving the market during the forecast period. However, increasing prevalence of vitamin A toxicity owing to the excess intake of the substance is projected to challenge growth opportunities. 

Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Vitamin A Market Report.

Vitamin A Market- Geography (%) for 2021.

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Vitamin A Market Segment Analysis-By Type 

Based on Type, the Vitamin A Market is segmented into Feed Grade Vitamin A, Food Grade Vitamin A, and Pharmaceutical Grade Vitamin A. The Food Grade Vitamin A segment is anticipated to have the largest share of the market in 2021 and is poised to dominate the market during the forecast period 2022-2027. Food grade type has a lower concentration of vitamin A and higher concentration of other substances such as fillers, dyes and binders. This means that they can be consumed in relatively large qualities for a longer period of time. This makes them ideal for food fortification, confectionery vitamin A supplements and as an ingredient in functional food & beverage products. However, the pharmaceutical grade vitamin A segment is projected to grow the fastest at a CAGR of 6.7% owing to the rise in prevalence of severe vitamin A deficiencies. The high vitamin A concentration and absorption capability of pharmaceutical grade type makes them more effective in eliminating severe deficiencies in patients.

Vitamin A Market Segment Analysis-By Application

The Vitamin A Market based on Application can be segmented into Functional Food & Beverages, Pharmaceutical, Animal Feed, Cosmetics and Others. The Functional Food & Beverages segment accounted for the largest share of the market in 2021. They can be further segmented into dairy, baby food, bakery & confectionery, beverages and others. Vitamin A is a key component in numerous functional food and beverage products owing to their immunity boosting and muscle development properties. In addition, functional food and beverages with vitamin A also helps improve collagen production and slows down the aging of skin. Pharmaceutical segment is anticipated to witness the fastest growth during the forecast period at a CAGR of 6.8% owing to the rapidly rising prevalence of vitamin A deficiency among children between the ages of 6 months and 5 years. 

Vitamin A Market Segment Analysis-By Geography

The Vitamin A Market based on Geography can be segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. The North American segment is projected to dominate the Vitamin A market during the forecast period 2022-2027 with a market share of 37.0% owing high customer awareness levels and rising demand for functional food and beverage products in the region. Moreover, various mandatory regulations regarding the need for fortifying food products with vitamin A in North America is contributing to market growth. For instance, the Canadian Food and Drug Regulations (FDR) mandates that products such as skim milk, margarine, Infant Formulas, meal replacements and nutritional supplements and instant breakfasts need to be fortified with vitamin A. The Asia Pacific region is predicted to register the fastest growth at a CAGR owing to the rise in government initiatives for combating vitamin A deficiency in the emerging economies such as India, China and Bangladesh.

Vitamin A Market Drivers

Rising Use of Vitamin A Products in Skincare is Projected to Drive Market Growth.

The growing use of vitamin A products for skincare applications is driving the market during the forecast period. Vitamin A is added to numerous skincare products such as moisturizers, sunscreen, vitamin-infused oils, and anti-aging creams. In addition, tropical retinoids are applied on the skin for controlling acne owing to their anti-inflammatory properties. Nearly 40% men and 54% of women older than 25 years of age have facial acne in the US alone. Apart from cosmetic products, there has also been a surge in demand for ingestible vitamin A beauty supplements to improve skin health by fighting free radicals. 

Vitamin A Market Challenges

The High Incidence of Vitamin A Toxicity is Anticipated to Hamper Market Growth.

Growing prevalence of vitamin A toxicity in developed regions is a major challenge to the market as it reduces the use of products containing the vitamin in the region. The toxicity can result in various symptoms such as headache, rash, hair loss and even liver damage. Moreover, vitamin A toxicity in pregnant women can result in severe birth defects and liver toxicity for the infant. There are nearly 60,000 cases of vitamin A toxicity in the US every year. According to the US National Library of Medicine, supplements are the most common cause of vitamin A toxicity.

COVID-19 Pandemic and Subsequent Restrictions is Projected to Limit Growth Opportunities.

The COVID-19 pandemic and subsequent restrictions have significantly affected the global distribution of vitamin A supplements and drugs. The effect was more severe in low-income regions of Africa where the prevalence of vitamin A deficiency is the highest. For instance, vitamin A deficiency is responsible for nearly 6% of child deaths under the age of 5 years in Africa. The pandemic caused major difficulties in procuring essential vitamin A products and caused challenges in ensuring effective distribution among the population. For instance, only 41% of the targeted African children were provided with vitamin A supplements in 2020. According to the UNICEF, the coverage in West and Central Africa decreased from 67% in 2019 to only 29% in 2020.

Vitamin A Market Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Vitamin A Market. Top 10 companies in of the industry are-

BASF

Kingdomway Nutrition Inc.

Adisseo

DSM

Kempex

Prinovaglobal

Amway

Zhejiang Medicine Co. Lt

Lonza

Glanbian Nutritionals

Recent Developments

In October 2020, L'Oréal Paris announced the launch of a new retinol serum called Revitalift Derm Intensives Night Serum. The serum is part of L'Oréal's Derm Intensives range, which aims to hone in on one prime ingredient per product to make it more effective. The retinol concentration in this product is 0.3% 

In August 2021, Nykaa announced the launch of SKINRX 2% Advanced Retinol Serum. The product is designed to soothes the wrinkles and fine lines while promoting skin cell renewal in order to reduce signs of aging. 

In July 2019, Karnataka Milk Federation (KMF) on Tuesday launched Nandini milk fortified with Vitamin A in the state of Karnataka, India. KMF stated that the Food Safety and Standards Authority of India had earlier issued orders to fortify the milk, as it was a good strategy to address micro-nutrient malnutrition.

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Clinical Information System Market - Forecast, 2022-2027

The Clinical Information System Market size is estimated to reach $1559.6 million by 2027. Furthermore, it is poised to grow at a CAGR of 7.9% over the forecast period of 2022-2027. Clinical information systems which were earlier only limited to use within the hospitals are now being broadly integrated into various other applications such as within radiology information system. The purpose of such health informatics is to keep track of health records of various medical records-prescriptions- and dictations within the hospital environment. However, CIS has grown from merely helping the doctors within the hospitals but has outgrown to be used in various clinical or pathology labs as a laboratory information system. Furthermore, pharmaceutical giants and biotechnology companies are actively transferring important clinical findings within the point of clinical trial and the head lab, by compiling useful data into medical insights. Additionally, the field of biologics has been gaining immense market traction, owing to its spectacular aim for targeting cancer cells or other pathogenic/malign/ carcinogenic cells/tissues with minimal body decay and reactions. To accomplish within the field of biologics and other potential therapeutic use. The rising investments and other activities pertaining to partnerships and other deals from, both government and private vendors within the IT space have allowed for robust growth in the Clinical Information Systems Industry in the projected period of 2022-2027.

Report Coverage

The report: “Clinical Information System Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Clinical Information System Industry.

By Application – Hospital Information Systems, Pharmacy Information Systems, Laboratory Information Systems, Revenue Cycle Management, Medical Imaging Information Systems, Radiology Information Systems, and Others. By Deployment- Cloud-based and On-Premises. By Component – Hardware, Software & Systems, and Services. By End-Users – Hospitals and Clinics, Academic & Research Centers, Pharmaceutical & Biotechnology Companies, and Diagnostic Center. By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

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Clinical Information System Market Segmentation Analysis - By Deployment Model

The clinical information systems market based on the deployment model can be further segmented into on-premises and on-cloud. On-cloud held a dominant market share in the year 2021. It is predominantly owing to the heavy cost involved in the on-premises setup. While setting up an on-premises layout, a company would have to spend on both CAPEX and OPEX owing to the initial capital investment required. However, the on-cloud model would only work on OPEX, as one needs to spend license cost, cost of running the IT environment, hardware refresh, and certain up-gradation which would happen time-time.

Moreover, the on-cloud model is estimated to be the fastest-growing, with a CAGR of 8.4% over the forecast period of 2022-2027. It is owing to the benefits as expressed in the above paragraph would allow the model to be extra-operable, and also allows for sharing real-time information to the decision-makers. Moreover, the company is able to save multitudes of amounts in terms of subscription-based on a larger workforce. For example, the subscription fees can cost $3500 for 100 users, whereas for 300 users the cost can be bought down to $9000. Owing to such economies of scale, the segment would outgrow the others.

Clinical Information System Market Segmentation Analysis - By End-Users

The clinical information system market based on end-users can be further segmented into Hospitals and Clinics, Academic & Research Centers, Pharmaceutical & Biotechnology Companies, and Diagnostic Center. Pharmaceutical and Biotechnology Companies held a dominant market share in the year 2021. It is owing to the pandemic-stricken movement, which is now compelling companies to find better therapeutics to treat COVID mortality and end the pandemic from its shore. As per the data from Clinical Trials, the official website for US medicines, around 82,406 studies are under the stages of “recruiting” “enrolling by invitation” and “active.” The notion emphasizes many of the trials which are under-going to address various medicines or therapeutics or any other clinical-related discipline.

Furthermore, Pharmaceutical and Biotechnology Companies are estimated to be the fastest-growing, with a CAGR of 8.7% over the forecast period of 2022-2027. It is owing to the rising disease burden along with new varieties of antibiotic resistance drugs. As per the CDC AR report, close to 2.8 million antibiotic-resistant infections occur within the US each year-which supplement the death of around 35,000. Owing to the following figures, it would be safe to conclude that the segment would outpace the others.

Clinical Information System Market Segmentation Analysis - By Geography

The clinical information systems market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the dominant market share of 35% as compared to the other counterparts in 2021. It is owing to the presence of a robust medical infrastructure that allows for better R&D pertaining activities. Additionally, the US is the highest spender of healthcare around the globe. As per the latest data revelation, around $4 trillion is spent under the umbrella term of “healthcare expenditure” in 2020. Furthermore, private institutions such as Pfizer and various other giants spend billions of dollars under the umbrella term of clinical investigation and trial study cost. Thereby, showing heavy resilience.

However, Asia-Pacific is expected to offer lucrative growth opportunities to marketers in the projected period of 2022-2027. It is owing to the innovation trends within the med-tech space taking place in the likes of South Korea and China. Additionally, the 5G deployment is incredibly high in the Asian regions which would further allow for easy clinical information investigation procedures.

Clinical Information System Market Drivers

The growing 5G utilization in the clinical information domain has positioned the market favorably

Patients have to suffer from various agonies and pain, apart from which they face various operational challenges-language barriers- distance barriers- and various others. Apart from the patient’s point of view, various clinical findings must be sent in the labs or to the major pharmaceutical giants to find the much-needed insights or follow-up. The files pertaining to imaging are often extremely large in size which reduces the network bandwidth- which in turn reduces the overall transmission rates. Both the factors ultimately lead to a loss in patient’s time and moreover, in terms of opportunity cost for the healthcare/clinical provider. Furthermore, clinical trials have been actively happening in the low-and extremely low-middle income countries for disease eradication. Hence, the companies require extensive bandwidth to cover the said population and opine and give insights on the results so obtained. Lastly, remote monitoring within the space of wearables has allowed the healthcare intermediaries to reduce the costs by up to 16% in the coming five years.

The advent of IoT along with the ease of interoperability using IT tools would help the populations at a broader level

Interoperability refers to the cross-usage of data across the various platforms in various clinical set-ups. The technology of the cloud allows various data of various sub-sets of the population to flow from server to server, which ultimately allows the decision-makers to facilitate a point of action. Additionally, IoT has readily played the role of easy-flow of critical decision markers, both for the care providers and the person in care or observation. In various clinical trials, participants are said to wear a bracelet or band for a period of time, as mentioned by the performer. The said notion would allow the company to look out for critical aspects such as an unregulated drop in pulse or temperature or heart rate or any other critical aspect. As per a company report, the presence of IoT has grown at an industrial level. Healthcare ranks second in the use of IoT and has a share of 30% only after manufacturing and business, which occupy 40% of the IoT devices segment. Moreover, the growth in the last decade has been exponential; from an earlier adoption rate of 12%, it has now scaled up to 30%, which is 2.5X.

Clinical Information System Market Challenges

The rise in the overall feeling pertaining to hacktivism along with the privacy challenges have impeded the overall market growth

Cases of data theft have been looming since the advent and resilience over cloud grew. Medical records have been considered as sacred information- as pupils feel that they carry the potential to exploit one’s life. Furthermore, the recovery time and data loss impedes the overall confidence of the patients in concern. The recovery time and costs associated with breaches of critical data not only pose significant financial burdens but also hamper the ability of healthcare institutions to provide care, which could ultimately have human costs. Moreover, cyber-attacks against healthcare institutions rose by over 55% in 2020 as compared to the year before that. Additionally, restoration of data, on average took 236 days. Owing to such challenges, 5G in the healthcare market would face ready challenges.

Clinical Information System Market Competitive Landscape

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Clinical Information System Market. The top 10- Clinical Information System Market companies are-

IBM

SAS

Allscripts

Mc Kesson

Optum

Mede Analytics

Inovalon

Oracle

Health Catalyst

Cerner

Recent Developments

In August 2021, the Ministry of Health and Welfare and the National Evidence-based Healthcare Collaborating Agency (NECA, HTA agency) have announced that the ‘new Health Technology Assessment (nHTA) Guidance Service,’ which is designed for customized consultative services based on full life cycle approach to expedite the market access of safe and promising technologies, will be implemented. The NECA has been making efforts to provide literature search services and clinical trial planning consultation, etc., to the applicants upon request to make new medical technologies recognized as nHTA by securing evidence for their safety and effectiveness. The overall impact would positively impact the clinical information systems market.

In February 2021, VA and Airforce have tested out 5G within the hospital settings. Furthermore, VA’s 5G-powered hospitals are a sign of modernization which comes in the free-medical space. Furthermore, applications providers set out that the population is growing, so are the cost associated with it. Additionally, healthcare providers are shrinking in volume handling. The VA, along with other agencies such as the Department of Defence is testing 5G to develop and validate healthcare applications that would further improve patient care.

In May 2020, Navi Health has been acquired by United Health Group’s Optum. The former company has been involved in managing 140 hospitals under the CMS- Centre for Medicare and Medicaid. It is then by providing clinical decisions tool for managing post-acute services to patients, while also tracking them for their daily health updates. By acquiring Navi heath, Optum Group plans to use the data-driven insights along with the clinical capabilities to publish personalized-valued based care coordination.

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Brain Implants Market - Forecast(2022 - 2027)

Brain Implants Market size is estimated to reach $8.6 billion by 2027, growing at a CAGR of 9.1% during the forecast period 2022-2027. Brain Implants, frequently mentioned as neural implants, are technological devices that relate directly to the brain of a biological subject, normally positioned on the surface of the brain or fastened to the cortex of the brain. A Vagus nerve stimulator (VNS) is a device utilized to treat seizures when seizure medications are not efficient and surgery is not feasible. Vagus Nerve Stimulator includes a pacemaker-like generator that is implanted in the chest wall and is programmed by the physician to excite the vagus nerve in the neck. Spinal cord stimulation is a therapy that conceals pain signals prior to arriving at the brain. A tiny device, analogous to a pacemaker, is implanted in the body to convey electrical pulses to the spinal cord. It supports people in better handling their chronic pain symptoms and reduces the application of opioid medicines. Polycarbonate urethane and carbon nanofiber composites have activated neurite expansion at the time of in vitro investigations. These materials have encouraging tunable characteristics for neural implants like electrical, nanoscale structure and organization, and surface energy features. Deep brain stimulation (DBS) is an optional surgical process in which electrodes are implanted into specific brain areas. These electrodes, or leads, produce electrical impulses that regulate abnormal brain action. The electrical impulses can also accommodate the chemical disproportions inside the brain that bring about different conditions. The deep brain stimulator is a battery-operated, surgically-implanted instrument.

The expanding population of the elderly is set to drive the Brain Implants Market. The technological progress in devices resulting in the development of devices like implantable vagus nerve stimulators and the increasing predominance of movement and psychiatric ailments are set to propel the growth of the Brain Implants Market during the forecast period 2022-2027. This represents the Brain Implants Industry Outlook.

Brain Implants Market Report Coverage

The report: “Brain Implants Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the  Brain Implants Market.

By Product Type: Deep Brain Stimulator, Spinal Cord Stimulator, Vagus Nerve Stimulator. By Application: Chronic Pain, Epilepsy, Parkinson’s Disease, Depression, Essential Tremor, Alzheimer’s Disease, Others. By Geography: North America (U.S, Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).

Key Takeaways

Geographically, North America Brain Implants Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the surging raised count of neurological ailments requiring the application of deep brain stimulators in North American region.

Brain Implants Market growth is being driven by the increasing predominance of neurological ailments requiring the application of deep brain stimulators, stress, and obesity-generated depression. However, the high costs of brain implants, the specialized experience of the medical professionals involved, the progressive technology and methods included in contemporary neurological practice are some of the major factors hampering the growth of the Brain Implants Market. 

Brain Implants Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the  Brain Implants Market report. 

Brain Implants Market Segment Analysis – By Application:

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Brain Implants Market Segment Analysis – By Product Type:

The Brain Implants Market based on product type can be further segmented into Deep Brain Stimulator, Spinal Cord Stimulator, and Vagus Nerve Stimulator. The Deep Brain Stimulator Segment held the largest market share in 2021. This growth is owing to the increasing application of deep brain stimulators for neurological ailments. A deep brain stimulator is utilized to treat Obsessive Compulsive Disorder, Parkinson’s Disease, Dystonia, Essential Tremor, Epilepsy, and Alzheimer’s Disease. The surging awareness regarding the treatment of neurological movement disorder amidst patients is further propelling the growth of the Deep Brain Stimulator segment.

Furthermore, the Vagus Nerve Stimulator segment is estimated to grow with the fastest CAGR of 10.2% during the forecast period 2022-2027 owing to the soaring application of vagus nerve stimulator in the treatment of different ailments like anxiety, migraines, fibromyalgia, tinnitus, and obesity.

Brain Implants Market Segment Analysis – By Application:

The Brain Implants Market based on the application can be further segmented into Chronic Pain, Epilepsy, Parkinson’s Disease, Depression, Essential Tremor, Alzheimer’s Disease, and Others. The Chronic Pain Segment held the largest market share in 2021. This growth is owing to the increasing predominance of chronic pain worldwide. Deep Brain Stimulator provides supportive results for the treatment of chronic pain, specifically when additional techniques have not worked like medicines, conservative measures, and extracranial processes. The surging application of stimulators for alleviation of chronic neck or back pain not alleviated by surgery or additional treatments is further propelling the growth of this segment.

Furthermore, the Parkinson’s Disease segment is estimated to grow with the fastest CAGR of 9.7% during the forecast period 2022-2027 owing to the surging population of the elderly who are susceptible to conditions like Parkinson’s Disease requiring efficient treatment options involving application of deep brain stimulator.

Brain Implants Market Segment Analysis – By Geography:

The Brain Implants Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Brain Implants Market) held the largest share with 36% of the overall market in 2021. The growth of this region is owing to the increasing pervasiveness of neurological ailments requiring the usage of deep brain stimulators in the region. The availability of greatly proficient specialists is further driving the growth of the Brain Implants Market in this region. The existence of well-developed healthcare facilities is further propelling the growth of the Brain Implants Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the increasing predominance of neurological ailments requiring the application of deep brain stimulators in the Asia-Pacific region. The proliferating initiatives by neurosurgeons and neurology clinics to increase awareness regarding brain implants are further fueling the progress of the  Brain Implants Market in the Asia-Pacific region.

Brain Implants Market Drivers

Surging Applications Of Spinal Cord Stimulation Are Projected To Drive The Growth Of Brain Implants Market:

Spinal cord stimulation is utilized most frequently consequent to nonsurgical pain treatment alternatives failing to offer adequate alleviation. Spinal cord stimulators need two processes to test and implant the instrument termed the trial and implementation. Spinal cord stimulation can enhance the complete quality of life and sleep and minimize the requirement for pain medications. It is normally utilized together with additional pain management treatments. Spinal cord stimulators include thin wires (the electrodes) and a tiny, pacemaker-like battery pack (the generator). The electrodes are positioned between the spinal cord and the vertebrae (the epidural space), and the generator is positioned under the skin, normally near the backside or abdomen. Spinal cord stimulators permit patients to send electrical impulses by utilizing a remote control when they feel pain. Both the remote control and its antenna are external to the body. The surging applications of spinal cord stimulation are therefore fuelling the growth of the Brain Implants Market during the forecast period 2022-2027.

Soaring Applications Of Deep Brain Stimulation Are Expected To Boost The Demand Of Brain Implants Market:

Deep brain stimulation (DBS) includes implanting electrodes inside some areas of the brain. These electrodes generate electrical impulses that control abnormal impulses. Or the electrical impulses can influence some cells and chemicals inside the brain. The quantity of stimulation in deep brain stimulation is regulated by a pacemaker-like device positioned under the skin in the upper chest. A wire that journeys under the skin links this instrument to the electrodes in the brain. Deep brain stimulation is typically utilized to treat a count of conditions, like Parkinson's disease, Essential tremor, Dystonia, Epilepsy, and Obsessive-compulsive disorder. Deep brain stimulation is also being investigated as a possible treatment for Tourette syndrome, Huntington's disease, and chorea, Chronic pain, and Cluster headache. The deep brain stimulator is a battery-operated, surgically-implanted instrument. It is occasionally termed a pacemaker for the brain. The soaring applications of deep brain stimulation are driving the growth of the Brain Implants Market during the forecast period 2022-2027.

Brain Implants Market Challenges

Possible Misapplication Of Brain Implants Is Hampering The Growth Of The Brain Implants Market:

It is likely that not all applications of brain implants will lead to good consequences and numerous usages may not be regarded as ethical. As per the report by Daily Mail, brain implants presently utilized to treat Parkinson’s disease have the possibility to turn commercial and for firms to utilize them to rob the memories of people and intimidate them for money. As per their report, specialists think that there is the potential of recording and improving memories within five years, In a decade, it is probable that firms could purchase memory boosting implants and they could harvest and curb memories by 2038. There is potential for misuse and this is an issue that scientists and those in authorized roles will have to guard against and handle with care in the forthcoming years. The possible misapplication of brain implants is thus hampering the growth of the Brain Implants Market.

Brain Implants Market Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the  Brain Implants Market. Key companies of this market are:

Abbott (St. Jude Medical)

Boston Scientific Corporation

Medtronic PLC

NeuroPace Inc.

Renishaw PLC

LivaNova PLC

Nevro Corporation

Aleva Neurotherapeutics SA

NDI Medical LLC

Synchron Inc.

Recent Developments

In August 2021, NeuroPace, Inc., declared the wide introduction of its nSight Platform, an online portal that assists specialists in offering more personalized, data-driven epilepsy care by empowering them to remotely review patient progress, detect actionable insights, and record their clinic’s complete patient consequences. The RNS System® is the only FDA-endorsed epilepsy device that uninterruptedly supervises brain action, conveys personalized treatment by responding in real-time to a patient’s rare seizure action, and tracks intracranial EEG data that can assist specialists in optimizing patient results. As part of the nSight Platform offering, NeuroPace has teamed up with Seizure Tracker, one of the most extensively utilized electronic seizure diary apps, to assist patients and clinicians with more trustworthily recording and handling seizures.

In July 2021, it was reported that India Medtronic Private Limited, a completely owned subsidiary of Medtronic plc, declared the introduction of the Percept PC – Deep Brain Stimulation (DBS) system for patients with Parkinson's disease, Essential tremor, Dystonia, and Epilepsy. The system empowered with BrainSense technology is planned to capture brain signals while concurrently transferring therapeutic stimulation, within and outside the clinic. Ergonomically planned, the Percept PC device provides improved comfort and is designated for patients with Parkinson's disease, tremor, dystonia, and epilepsy.

In June 2020, Boston Scientific declared the U.S. introduction of the DIRECTSENSE™ Technology, a tool for supervising the consequence of radiofrequency (RF) energy distribution at the time of cardiac ablation processes. Accessible on the RHYTHMIA HDx™ Mapping System, the DIRECTSENSE Technology, which accepted U.S. Food and Drug Administration endorsement in April, is the only tool to supervise alterations in local impedance – electrical resistance – around the tip of the INTELLANAV™ MiFi Open-Irrigated (OI) ablation catheter, providing specialists an added measurement of therapy result at the time of ablation. Ablation is a treatment alternative for patients with cardiac arrhythmias in which specialists utilize a catheter to develop lesions and dismantle heart tissue that brings about abnormal rhythms.

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Electric Vehicle Charging Stations Market - Forecast(2022 - 2027)

The Electric Vehicle Charging Station market is forecast to reach $5.6 billion by 2026, growing at a CAGR of 5.0% from 2021 to 2026. EV charging services consist of electric vehicle charging station to recharge the electric vehicles. The rising demand for electric vehicles is significantly boosting the demand for EV charging services. The significant implementation of the stringent emission norms globally is set to boost the demand for electric vehicles, thereby contributing to the Electric Vehicle Charging Station Market. The need for smart connectivity in passenger vehicles, especially among electric vehicles is boosting the demand for electric vehicle supply equipment including for EV charging stations.

Report Coverage

The report: “Electric Vehicle Charging Station Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Electric Vehicle Charging Station market.

By Charging Station: AC Charging Station, DC Charging Station, Inductive Charging Station.

By Connector Type: CHAdeMO, CCD and Others.

By Location: Residential and Commercial.

By Vehicle Type: PHEV, BEV.

By Charging Level: Level 1, Level 2, Level 3.By Geography - North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Aus and Others), 

South America(Brazil, Argentina and others), and RoW (Middle East and Africa).

Key Takeaways

Electric Vehicle Charging Station Market Segment Analysis - By Installation Type

Commercial is analysed to hold highest share in 2020 with 76.1% and is set to grow at highest rate during the forecast period 2021-2026 majorly attributed to the growing public EV charging stations. The government of India announced to increase the Electric Vehicle usage to 30% by 2030, hence the exponentially growing charging infrastructure across the country is set to contribute to the market. Indian government announced the initiatives such as developing a national EV policy, the FAME II scheme, which includes a subsidy for setting up of 2,636 public electric vehicle charging stations across the country.

EV Charging Station Market Segment Analysis - By Vehicle Type

The EV Charging Station Market is segmented into Plug-in hybrid electric vehicles (PHEV), Battery electric vehicles (BEV) by vehicle type. The BEV segment is expected to witness the highest growth of around 8.6% during the forecast period 2021 – 2026. Leading automotive companies such as Tesla, BMW, and Nissan are now offering wireless charging in BEV models such as Tesla Model S, BMW i3, and Nissan Leaf, thereby driving the demand for wireless EV charging market. OEMs are focused on BEVs for curbing rising pollution due to strict government regulations. Increasing sales of BEV and funding from government is expected to drive the overall demand.

Electric Vehicle Charging Station Market Segment Analysis - By Geography

APAC is the fastest growing market in 2020 at 8.1% CAGR. The large growth is majorly attributed to the presence of large production bases in China and India and improving governmental subsidies. In 2019, the Government of India announced its plan to provide subsidies to set up 5,000 electric charging stations in cities and highways of India. The main aim of the subsidy program is promoting India’s plan to shift 40% fleet to battery operated vehicles. In January 2020, EESL and BHEL announced partnership to build the EV charging station all over India. The development of plug-in vehicles in France is seen as a symbolic step towards achieving national goals in the direction of more environmentally friendly transport. An investment plan to support public infrastructure was also announced by the Government.

Electric Vehicle Charging Station Market Drivers

Increasing sales of the Electric Vehicles

The development of electric vehicle charging stations for electric vehicles has gained significant momentum over the past decade. Adoption of charging station services for electric vehicles help in reducing the pollution in large population centers, increase customer loyalty, and attract new customers, thereby driving the market growth. According to International Energy Agency (IEA), the number of battery electric vehicles have been increased from 1.19 million units to 3.29 million units during 2016-2018 period at global level. Growing adoption of EV charging stations with increasing usage of electric vehicles set to fuel the market growth.

Rise in number of convenience charging stations in both developed and developing economies

The rapidly evolving electric vehicle (EV) market is driving innovation in EV technology and associated infrastructure. Electric vehicles offer multiple advantages such as reduced fuel consumption and decreased emissions from tailpipes, which significantly boost their demand across the globe. This in turn is expected to escalate the need for charging stations for electric vehicles, thereby driving the market growth. Charging stations are being rapidly developed as a part of government initiative programs and EV manufacturers are being involved in the development of charging spots in the parking locations. EV manufacturers are focusing on the establishment of charging stations for electric cars to enhance the sales of electric vehicles.

Electric Vehicle Charging Station Market Challenges

Infrastructure Limitations for Charging Stations 

High cost and infrastructure limitation is the major hurdle that hampers the electric vehicle charging infrastructure market growth. The cost of establishing charging infrastructure is quite high. This hampers the market growth. Charging cars require fixed space and an individual for maintenance the charger and space. This cost becomes the major issue as it makes the station finance unviable. The government of various countries has imposed certain restrictions on the per unit price that can be charged to the customer. This has been hampering the condition for charger owners. 

Electric Vehicle Charging Station Market Landscape

Acquisitions, partnerships and R&D activities are key strategies adopted by players in the EV Charging Station market. EV Charging Station market is expected to be dominated by major companies such as Aerovironment, Blink Charging Co., Chargepoint Inc., Chargemaster PLC., Delphi Automotive plc., Mojo Mobility Inc., among others.

Acquisitions/Technology Launches/Partnerships

In January 2019, Enel X installed and activated the first charging station on the Italian motorway network at Q8 Rho Sud service area. After the Enel X and Q8 agreement has been signed, drivers can travel with their electric cars between Turin and Milan without having to exit the motorway to recharge their vehicles.

In May 2019, Panasonic announced the launch of smart EV charging service in India providing charging stations, swap stations, board charges and so on.