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Population Health Management Market Size, Share and Demand

The population health management (PHM) market was experiencing significant growth and innovation driven by the increasing demand for value-based care, technological advancements, and the need for more efficient healthcare delivery systems.

Population health management involves the aggregation of patient data across multiple health information technology sources, analysis of that data into a single, actionable patient record, and the actions through which care providers can improve both clinical and financial outcomes.

Key components and trends in the PHM market included:

Technological Advancements: Advances in data analytics, artificial intelligence (AI), machine learning (ML), and predictive modeling were playing a crucial role in deriving insights from large sets of patient data. This allowed healthcare providers to identify at-risk populations, predict outcomes, and customize interventions.

Value-Based Care Initiatives: Healthcare systems globally were shifting towards value-based care models that emphasize patient outcomes and the overall health of populations rather than the volume of services provided. PHM solutions assist in managing and improving the health of populations, aligning with this shift.

Integration of Data Sources: PHM platforms were integrating data from various sources such as electronic health records (EHRs), health information exchanges (HIEs), wearables, and patient-generated data. This comprehensive data integration aimed to provide a holistic view of patients' health and improve care coordination.

Remote Patient Monitoring and Telehealth: The COVID-19 pandemic accelerated the adoption of remote patient monitoring and telehealth solutions. PHM played a significant role in managing and monitoring patients remotely, enabling healthcare providers to deliver care beyond traditional clinical settings.

Market Growth and Consolidation: The PHM market was experiencing growth with the emergence of new startups and the expansion of existing healthcare IT companies. Mergers and acquisitions were also common as larger healthcare technology firms aimed to enhance their PHM capabilities.

Regulatory and Policy Influence: Government regulations and policies continued to impact the PHM market, influencing the adoption of interoperable systems, data security, and compliance requirements such as those outlined in the Health Insurance Portability and Accountability Act (HIPAA).

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Monoclonal Antibody Therapy Market Growth, Share, Demand and Size

The monoclonal antibody therapy market was rapidly expanding and showing significant growth prospects. Monoclonal antibodies (mAbs) are laboratory-produced molecules designed to mimic the immune system's ability to fight off harmful pathogens, cancer cells, and other diseases. They are used for various therapeutic purposes and have gained prominence in the healthcare industry due to their specificity and effectiveness in targeting specific cells or proteins.

Here are some key points about the monoclonal antibody therapy market:

Market Growth: The global monoclonal antibody therapy market has been experiencing substantial growth, driven by the increasing prevalence of chronic diseases such as cancer, autoimmune disorders, and infectious diseases. The market was expected to continue expanding due to advancements in biotechnology, growing research and development initiatives, and an aging population with a higher incidence of diseases that can be treated with mAbs.

Cancer Treatment: Monoclonal antibodies have been widely used in cancer treatment. They can be designed to target specific cancer cells or proteins, aiding in the destruction of these cells or blocking their growth. Therapeutic mAbs have shown efficacy in various cancers, including breast cancer, colorectal cancer, leukemia, lymphoma, and more.

Autoimmune Diseases: Another significant application area is in treating autoimmune disorders such as rheumatoid arthritis, Crohn's disease, multiple sclerosis, and psoriasis. Monoclonal antibodies can help regulate the immune response and reduce inflammation associated with these conditions.

Infectious Diseases: The COVID-19 pandemic highlighted the potential of monoclonal antibodies in combating infectious diseases. During the pandemic, monoclonal antibody therapies were developed and authorized for emergency use in treating COVID-19 patients, especially those at high risk of severe illness.

Market Players and Competition: Several pharmaceutical and biotechnology companies are actively involved in developing and commercializing monoclonal antibody therapies. Key players include Roche, Bristol Myers Squibb, Merck & Co., Novartis, Johnson & Johnson, AbbVie, and others. Competition in the market is intense, with companies focusing on innovation, research, and strategic collaborations to develop novel therapies.

Challenges: Despite the success and potential of mAbs, challenges exist, including high production costs, the need for precise manufacturing processes, potential side effects, and the emergence of biosimilar competition after patents expire for original therapies.

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Bone Growth Stimulator Market Growth, Share, Size and Forecast

The bone growth stimulators market was experiencing growth due to an increasing incidence of bone fractures and musculoskeletal disorders worldwide. Bone growth stimulators are devices that use electrical or ultrasound stimulation to aid and accelerate the healing of fractures or spinal fusion surgeries.

Several factors were contributing to the growth of this market:

Rising Incidence of Bone Disorders: The prevalence of osteoporosis, spinal injuries, and other orthopedic conditions was on the rise, leading to a higher demand for bone growth stimulators.

Technological Advancements: Ongoing advancements in technology were leading to the development of more efficient and advanced bone growth stimulators, improving patient outcomes and reducing healing times.

Increasing Aging Population: With a growing aging population globally, there was a higher incidence of bone-related ailments and surgeries, thereby boosting the demand for bone growth stimulators.

Awareness and Adoption: Healthcare professionals were increasingly recognizing the benefits of bone growth stimulators in aiding bone healing and reducing recovery periods, leading to greater adoption of these devices.

Favorable Reimbursement Policies: Supportive reimbursement policies for bone growth stimulators in various regions were encouraging patients to opt for these devices, thereby driving market growth.

Orthopedic Surgeries: The increasing number of orthopedic surgeries, such as spinal fusion procedures, joint replacements, and trauma cases, contributed significantly to the demand for bone growth stimulators.

Market Expansion: Companies were focusing on expanding their product portfolios, introducing innovative devices, and strategic collaborations to gain a competitive edge in the market.

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Ophthalmic Devices Market Size, Share, Demand and Growth

The ophthalmic devices market comprises a wide range of medical devices used in the diagnosis, treatment, and management of various eye conditions and diseases. These devices are crucial for ophthalmologists, optometrists, and other eye care professionals in delivering quality eye care to patients.

Key segments within the ophthalmic devices market include:

Diagnostic and Imaging Devices:This category includes devices such as optical coherence tomography (OCT), fundus cameras, tonometers, autorefractors, keratometers, and visual field analyzers. These devices aid in the diagnosis and monitoring of eye conditions like glaucoma, macular degeneration, diabetic retinopathy, and other retinal diseases.

Surgical Devices:Surgical devices used in eye surgeries include phacoemulsification systems for cataract surgery, ophthalmic lasers (used in procedures like LASIK or for treating retinal conditions), vitrectomy machines, intraocular lenses (IOLs), and microsurgical instruments.

Vision Care Products:This segment covers contact lenses, spectacles, and other vision correction devices used to correct refractive errors like myopia, hyperopia, astigmatism, and presbyopia.

Ophthalmic Accessories and Consumables:These include items like eye drops, solutions, diagnostic strips, and other consumables used in eye care procedures and treatments.

The market for ophthalmic devices is driven by several factors, including the increasing prevalence of eye diseases such as cataracts, glaucoma, and age-related macular degeneration due to aging populations worldwide. Technological advancements in these devices, leading to more precise diagnostics and minimally invasive surgical procedures, also contribute to market growth. Additionally, the growing demand for vision correction procedures and increasing awareness regarding eye health and the availability of treatments are fueling the expansion of this market.

Key players in the ophthalmic devices market include Alcon (a subsidiary of Novartis), Bausch + Lomb, Carl Zeiss Meditec, Johnson & Johnson Vision Care, Topcon Corporation, NIDEK Co., Ltd., and Haag-Streit AG, among others.

The ophthalmic devices market is dynamic and competitive, characterized by ongoing research and development aimed at introducing innovative technologies to improve patient outcomes and enhance the efficiency of eye care procedures. Regulatory considerations, reimbursement policies, and advancements in digital health and teleophthalmology are also influencing the growth trajectory of this market.

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Cystic Fibrosis Market Size, Share and Growth during Forecast Period

The cystic fibrosis (CF) market has been an area of significant focus for pharmaceutical companies and research institutions due to the unmet medical needs of individuals affected by this genetic disorder. CF is a lifelong condition that affects the lungs and digestive system, causing difficulties in breathing and digestion.

The CF market has seen advancements in treatment options, focusing on managing symptoms, improving quality of life, and targeting the underlying genetic causes of the disease. Some of the key aspects of the CF market include:

Drug Therapies: Pharmaceutical companies have developed and continue to develop various drugs targeting specific mutations of the CFTR (Cystic Fibrosis Transmembrane Conductance Regulator) gene, which is responsible for CF. These drugs aim to correct the dysfunctional CFTR protein or improve its function. Examples include modulator therapies like ivacaftor, lumacaftor/ivacaftor, tezacaftor/ivacaftor, elexacaftor/tezacaftor/ivacaftor, and others.

Gene Editing and Gene Therapy: Research is ongoing in the field of gene editing and gene therapy to address the root cause of CF by repairing or replacing the defective CFTR gene. Techniques such as CRISPR/Cas9 and viral vectors for gene delivery hold promise in this area.

Market Dynamics: The CF market is competitive, with several pharmaceutical companies investing in research and development to introduce new therapies. Pricing, access to medications, and reimbursement policies are factors influencing market dynamics.

Patient Care and Support: Beyond medications, there's a growing emphasis on holistic care for CF patients, including nutritional support, physiotherapy, and mental health services, to improve overall well-being and life expectancy.

Clinical Trials: Ongoing clinical trials assess the safety and efficacy of new drugs, combinations, and treatment modalities, aiming to further enhance CF management and outcomes.

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U.S. Substance Use Disorder Treatment Market Forecasts, 2022-2029

The U.S. Substance Use Disorder (SUD) Treatment Market is an important aspect of the healthcare industry in the United States. Substance Use Disorder refers to the misuse or overuse of substances such as alcohol, illicit drugs, and prescription medications, leading to negative consequences for physical and mental health.

Here are some key points about the U.S. Substance Use Disorder Treatment Market:

Market Size and Growth: The market for Substance Use Disorder treatment in the U.S. is substantial, driven by the prevalence of substance abuse issues. It includes a wide range of services, from outpatient counseling to inpatient rehabilitation programs.

Treatment Modalities:

Outpatient Services: These include individual and group counseling, behavioral therapy, and medication-assisted treatment (MAT) provided in an outpatient setting.

Inpatient Services: This involves residential treatment, where individuals live at a facility for a period of time and receive intensive therapy and support.

Detoxification Services: Medical supervision during the withdrawal process to manage potentially dangerous symptoms.

Medication-Assisted Treatment (MAT): The use of medications (e.g., methadone, buprenorphine) in combination with counseling and behavioral therapies for the treatment of substance use disorders, particularly opioid use disorder.

Regulatory Environment: The Substance Abuse and Mental Health Services Administration (SAMHSA), a branch of the U.S. Department of Health and Human Services, plays a significant role in overseeing and regulating Substance Use Disorder treatment programs.

Private and Public Providers: Substance use disorder treatment services are provided by a combination of private and public entities. Private providers include for-profit and non-profit organizations, while public providers may be funded by state or federal agencies.

Insurance Coverage: Access to SUD treatment services can be influenced by insurance coverage. The Affordable Care Act (ACA) and Mental Health Parity and Addiction Equity Act (MHPAEA) have expanded insurance coverage for mental health and substance use disorder services.

Challenges:

Stigma: There is still a significant stigma associated with substance use disorders, which can hinder individuals from seeking treatment.

Access to Care: Disparities in access to quality treatment services exist, particularly in rural or underserved areas.

Coordination of Care: Coordinating care across different providers and settings can be challenging, especially for individuals with co-occurring mental health conditions.

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Spirometer Market Size and Share 2023-2030

The spirometer market refers to the global market for spirometry devices and related accessories. Spirometry is a medical test used to measure lung function by assessing the volume and flow of air that is inhaled and exhaled by the lungs. It is an essential tool in the diagnosis and monitoring of various respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), and interstitial lung disease.

The market for spirometers includes a wide range of products, from basic handheld devices for simple lung function testing to more advanced systems used in clinical settings and hospitals. These devices can be standalone spirometers or integrated into larger diagnostic systems.

Factors driving the spirometer market include:

Increasing Prevalence of Respiratory Diseases: The rising incidence of respiratory diseases globally, including COPD, asthma, and other conditions, is a major driver for the spirometer market.

Aging Population: As the global population continues to age, the demand for respiratory care and diagnostic tools like spirometers is expected to increase.

Technological Advancements: Ongoing advancements in technology have led to the development of more accurate and user-friendly spirometry devices, which can further drive market growth.

Growing Awareness and Emphasis on Preventive Healthcare: Awareness about the importance of early detection and management of respiratory conditions is leading to increased adoption of spirometry as a diagnostic tool.

Regulatory Support: Government regulations and policies mandating the use of spirometry in certain clinical settings can drive market growth.

Telemedicine and Remote Monitoring: The COVID-19 pandemic has accelerated the adoption of telemedicine, which may boost the demand for portable and easy-to-use spirometry devices for remote monitoring of respiratory conditions.

Increasing Healthcare Expenditure: The overall increase in healthcare spending, especially in emerging markets, can contribute to the growth of the spirometer market.

Research and Development: Ongoing research and development in the field of respiratory medicine may lead to the introduction of innovative spirometry technologies.

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Cardiac Rhythm Management (CRM) Devices Market Size, Share and Forecast

The Cardiac Rhythm Management (CRM) Devices Market refers to the global market for medical devices designed to manage and regulate the electrical activity of the heart. These devices are used to treat various cardiac rhythm disorders, including conditions like arrhythmias, atrial fibrillation, and heart failure.

CRM devices can be broadly categorized into three main types:

Implantable Cardioverter Defibrillators (ICDs): These devices are implanted under the skin, typically in the chest area. They monitor the heart's rhythm and can deliver electrical shocks to restore a normal rhythm in case of dangerous irregularities.

Pacemakers: These are also implanted under the skin, usually in the chest. Pacemakers help regulate the heart rate by sending electrical signals to the heart muscle, ensuring it beats at a regular and steady pace.

Cardiac Resynchronization Therapy (CRT) Devices: These devices are a specialized form of pacemaker that are used to treat heart failure. They work by coordinating the contractions of the heart's left and right ventricles to improve its pumping efficiency.

Factors driving the CRM devices market include:

Increasing Prevalence of Cardiovascular Diseases: As the global population ages and lifestyles change, the incidence of cardiovascular diseases is on the rise, creating a growing market for CRM devices.

Technological Advancements: Advances in medical technology have led to the development of more sophisticated and effective CRM devices, driving demand.

Growing Awareness and Diagnosis Rates: Increased awareness of cardiac rhythm disorders and improved diagnostic capabilities are leading to more patients being identified as candidates for CRM devices.

Expanding Healthcare Infrastructure: Developing regions are witnessing an expansion of healthcare facilities, leading to greater accessibility and adoption of CRM devices.

Government Initiatives and Reimbursement Policies: Supportive government policies and reimbursement programs for cardiac procedures contribute to market growth.

Emerging Markets: The CRM devices market is also benefiting from increasing healthcare spending in emerging economies.

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Bone Growth Stimulator Market Size, Demand and Growth

The Bone Growth Stimulators Market refers to the industry involved in the production and sale of medical devices or treatments that are designed to enhance the natural healing process of bones. These devices use various technologies, such as electrical stimulation, ultrasound, or other methods, to accelerate and promote bone healing in cases where fractures or other bone injuries have occurred.

There are different types of bone growth stimulators:

Electrical Bone Growth Stimulators: These devices use low-level electrical currents to stimulate bone healing. They can be worn externally or implanted internally, depending on the specific type.

Ultrasound Bone Growth Stimulators: These devices use high-frequency sound waves to stimulate bone healing. They are typically worn externally and are non-invasive.

Combined Magnetic Field (CMF) Bone Growth Stimulators: These devices use a combination of static magnetic fields and electrical currents to stimulate bone healing. They are often used for non-union fractures.

The Bone Growth Stimulators Market serves a wide range of patients, including those with delayed or non-union fractures, spinal fusion procedures, and other orthopedic conditions where bone healing is critical.

Factors driving the market may include an aging population, increasing incidents of bone-related disorders, and advancements in medical technology. Additionally, the demand for non-invasive and effective treatment options for bone healing has contributed to the growth of this market.

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Snake Antivenom Market 2023-2030

The global snake antivenom market size was valued at USD 294.8 million in 2021. The market is projected to grow from USD 312.9 million in 2022 to USD 526.0 million by 2029, exhibiting a CAGR of 7.7% during the forecast period.

This information is presented by Fortune Business Insights, in its report titled, “Snake Antivenom Market, 2022-2029.”

COVID-19 Impacts:

Supply Chain Disruptions and Halt in Hospital Admissions Hindered Market Growth

Increased wait time before seeking treatment and delays in hospital admission due to imposition of stringent lockdowns and social distancing norms to curb the spread of the pandemic hampered market augmentation. Moreover, supply chain disruptions and diversion of healthcare budgets, beds, equipment and professionals towards dealing with the ongoing pandemic also impacted market trends negatively.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

Segments:

Polyvalent Heterologous Segment to Lead Owing to its Convenience

Based on type, the market is divided into polyvalent heterologous and monovalent heterologous. Among these, the polyvalent heterologous segment captured the largest market share due to its preference over monovalent antivenom. Polyvalent antivenom has the ability to neutralize the venomous bite of several snake species and is thus preferred as it helps in cases when the species can’t be identified.

Hospitals Segment to Grow Backed by Increasing Hospital Admissions

As per application, the market is bifurcated into hospitals and clinics. Hospitals segment captured majority of the market due to rising number of hospital admissions. Hospitals provide facilities such as focused treatment, personalized care, and others which will also propel this segment.

Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Smart Insulin Pens Market 2023-2030

The smart insulin pen market was a rapidly evolving sector within the broader field of diabetes management. Smart insulin pens are devices designed to help individuals with diabetes manage their insulin dosing more effectively by providing features such as dose tracking, reminders, and connectivity to mobile apps for data monitoring and analysis.

Some key features of smart insulin pens include:

Dose Tracking: Smart insulin pens can record the time and dosage of each insulin injection. This information can be useful for both patients and healthcare providers to monitor insulin therapy.

Reminders and Alarms: Many smart pens come with reminder functions to alert users about their next scheduled dose. This can be especially helpful for individuals with busy schedules or those who may have difficulty remembering to take their insulin.

Connectivity: Smart insulin pens often have Bluetooth or other wireless capabilities to connect to mobile applications or cloud-based platforms. This allows for real-time data tracking, sharing with healthcare providers, and analysis of insulin dosing patterns.

Insulin Dosing Guidance: Some smart insulin pens are equipped with algorithms that can provide dosing recommendations based on factors like blood glucose levels, carbohydrate intake, and previous dosages.

Compatibility with Mobile Apps: Many smart insulin pens have corresponding mobile apps that allow users to track their insulin doses, blood glucose levels, and other relevant data. These apps may also offer features like trend analysis, reports, and the ability to share data with healthcare providers.

Integration with Continuous Glucose Monitoring (CGM) Systems: Some smart insulin pens can integrate with CGM systems, allowing for a more comprehensive approach to diabetes management.

Regional Overview

The worldwide Smart Insulin Pens Market has been categorized based on geography, with North America, Europe, Asia Pacific, Latin America, and Middle East and Africa being the key regions. These regions have been further segmented into countries and sub-regions.

Those various countries focused in this market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

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Population Health Management (PHM) Market Size, Share, and Forecast

The global population health management (PHM) market size is projected to reach USD 91.43 billion by 2026, exhibiting a CAGR of 19.9% during the forecast period. Surging demand for quick access to patient records during the COVID-19 pandemic will be a crucial growth-driver for this market, states Fortune Business Insights™ in its report, titled “Population Health Management (PHM) Market Size, Share & Industry Analysis, By Component (Software, and Services), By Platform (Cloud-based, and On-premise), By End User (Healthcare Providers, Healthcare Payers, and Others), and Regional Forecast, 2019-2026”. The COVID-19 outbreak has created a global health and economic crisis of unparalleled proportions. To effectively confront this challenge, healthcare professionals are requiring efficient access and retrieval of patient records to provide the optimum care and medication to coronavirus and other patients. In response, many public and private bodies are working out solutions to meet this demand. For example, the North Dakota Health Information Network, in April 2020, created longitudinal health records of patients to understand their conditions and accelerate diagnoses across the state. Similarly, in March 2020, Chicago-based Medical Home Network began using an Artificial Intelligence (AI) solution to identify individuals at a heightened risk of suffering from severe effects of COVID-19. In sum, the coronavirus pandemic is likely to stoke the adoption of population health management systems and fuel the market growth.

Market Restraint

Rising Frequency of Cyber-Attacks on Healthcare Systems to Impede Market Growth

The population health management market growth is expected to get negatively affected by the increasing rate at which cyber-attacks are being conducted on healthcare systems around the world. For instance, in May 2019, the US Security and Exchange Commission (SEC) revealed that American Medical Collection Agency (AMCA), the billing services provider, faced a series of hacking attacks between August 2018 and March 2019, triggering a plethora of investigations and lawsuits against healthcare IT companies across the country. In April 2019, a month before AMCA’s revelation, the insurance company Dominion National declared a 9-year hack on its systems, breaching the data of around 2.96 million patients. With majority of patient data going online, these attacks are inevitable and are likely to spike during the COVID-19 crisis, which is exerting unprecedented pressure on healthcare systems worldwide.

Regional Insights

North America to Lead the Market Supported by Robust Healthcare Infrastructure

In 2018, the market size in North America stood at USD 13.84 billion and the region is expected to dominate the population health management market share during the forecast period. The primary factors favouring the regional include strong and advanced healthcare infrastructure and rapid progress in healthcare IT, along with robust presence of global healthcare services companies.

The PHM market in Europe is anticipated to grow at a steady pace as population health management solutions are playing a critical role in delivering improved care to the expanding elderly population in the region. In Asia Pacific, market growth will be mainly based on the increasing number of hospitals and multi-specialty healthcare facilities in the region.   

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Global Digital Therapeutics Market Size, Share and Demand

The global digital therapeutics market size was valued at USD 5.53 billion in 2022. The market is projected to grow from USD 6.77 billion in 2023 to USD 28.66 billion by 2030, exhibiting a CAGR of 22.9% during the forecast period. 

Software and hardware that digitally retain evidence-based therapeutic procedures for the treatment and management of diseases are referred to as “digital therapeutics” (DTx). The tools and software help address several conditions connected to diabetes, cardiovascular disease, respiratory illnesses, and mental health. The increased prevalence of chronic conditions like diabetes, mental illness, cancer, and heart failure (HF) worldwide is another factor contributing to the increased demand for these items. As a result, patients are increasingly using medicines to manage and treat a variety of chronic conditions. The rising demand for these items among the medical community and the pharmaceutical industry is also projected to fuel market expansion. Fortune Business Insights presents this information in their report titled "Global Digital Therapeutics Market, 2023–2030."

COVID-19 Impact:

Growing Adoption of Digital Therapeutics during COVID-19 Impacted Market Positively

During the anticipated period, COVID-19 will have a favourable effect on the expansion of the global market for digital therapeutics. The need for effective diagnosis and treatment at home has substantially increased throughout the world as a result of the COVID-19 pandemic outbreak and lockdown regulations. The market’s top players' initiatives to manage patients during the COVID-19 pandemic also had a significant impact on the increased use of these medicines. For instance, Fitbit Health Solutions announced a partnership with Stanford Medicine and The Scripps Research Institute in April 2020 to research the use of wearable technology in the identification, monitoring, and treatment of COVID-19 infection in patients.

Segments:

Growing Adoption of Health Monitoring Apps to Propel Market Growth

Based on type, the market is segmented into devices and, software & services.

Due to the rising adoption of software, software and services held the largest market share in 2022. Patients who use the software can easily access their specific meds and conveniently use them. The growing attention given by industry players to the creation of software for people with chronic illnesses like diabetes, heart disease, and mental health will aid in the expansion of this market sector.

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U.S. Substance Use Disorder Treatment Market 2023-2030

The U.S. substance use disorder treatment market size was valued at USD 35.14 billion in 2021 and USD 37.24 billion in 2022. The market is expected to reach USD 60.18 billion by 2029 with a CAGR of 7.1% during the forecast period. Substance abuse refers to the condition where uncontrolled use of substances leads to addiction. Rising number of patients seeking assistance for disorder treatment is set to propel market growth. Fortune Business Insights™ shares this information in its report titled “U.S. Substance Use Disorder Treatment Market, 2022-2029.”

COVID-19 Impact:

Decreasing Patients in Drug Rehabilitation Centers Declined Market Growth

The emergence of COVID-19 impeded the demand for substance use disorder treatment due to decreasing patients in drug rehabilitation centers. Restrictions on movement, decline in the number of patient visits, and other major parameters impacted the revenues of these service providers in the market. Market players also witnessed decline; Hazelden Betty Ford Foundation generated a revenue of USD 186.3 million in r 2020 and had a decline of 6.1% as compared to USD 198.5 million in 2019.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

List of Key Players Profiled in the Report

Hazelden Betty Ford Foundation (U.S.)

JourneyPure (Regard Recovery) (U.S.)

Workit Health (U.S.)

Pyramid Healthcare Inc. (U.S.)

American Treatment Network (U.S.)

Banyan Treatment Centers (U.S.)

Asana Recovery (U.S.)

Acadia Healthcare (U.S.)

Promises Behavioral Health (U.S.)

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them in addressing various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Dental Equipment Market Growth and Demand by Forecast Period

The global dental equipment market size is expected to gain momentum by reaching USD 16.07 billion by 2027 while exhibiting a CAGR of 9.6% between 2020 and 2027. This is attributable to the growing preference for digital dental x-ray and the rising geriatric population that is projected to drive the demand for advanced dental equipment. Fortune Business Insights published this information in its latest report, titled, “Dental Equipment Market Size, Share & Industry Analysis, By Product Type (Dental Radiology Equipment, Dental Lasers, Dental Surgical Navigation Systems, Dental CAD/CAM Equipment, Dental Chairs, and Others) and By End-User (Hospitals, Dental Clinics, and Others), 2020-2027.”

The report further mentions that the market stood at USD 8.89 billion in 2019 and is likely to experience considerable growth in the forthcoming years.

Dental equipment are tools adopted by the dentists to provide effective dental treatment. They include devices that are extensively adopted to examine and operate dental procedures. The increasing prevalence of dental diseases is driving the demand for innovative dentistry equipment across the globe.  

What does the Report Include?

The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

DRIVING FACTORS

Rising Geriatric Population to Augment Growth

The rising geriatric population is leading to several dental ailments that is anticipated to propel the demand for advanced dental equipment. Additionally, the increasing dental disorders is driving the manufacturers to develop innovative dental equipment across the globe. For instance, the growing preference for digital dental x-ray equipment that aids in significant cost reduction and better image processing is expected to boost the global dental equipment market growth during the forecast period.  

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Spinal Fusion Devices Market Demand, Trends, Size and Share

The global spinal fusion devices market is projected to reach USD 8.45 billion by 2026, exhibiting a CAGR of 3.6% during the forecast period. A rapidly rising global geriatric population will be a critical factor driving the growth of this market. According to the United Nations, around 16% of the world’s population will be over the age of 65 by 2050. In North America and Europe, close to 25% of the population will be aged.

Aged people are highly vulnerable to various kinds of injuries and spinal cord injuries are one of the most common afflictions of old age. For instance, a study published in the Lancet journal showed that in the US, the average age of patients who suffered from spinal cord damage rose from 40 years to 50 years in just two decades. This shows that as geriatric population increases, the risk of spinal cord injuries also rises in tandem, thereby spiking the demand for spinal arthrodesis devices in the long-run.

According to a new report published by Fortune Business Insights, titled “Spinal Fusion Devices Market Size, Share & Industry Analysis, By Product Type (Cervical Devices, Thoracolumbar Devices, Interbody Devices, and Biologics), By Disease Indication (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures, and Others), By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics and Others) and Regional Forecast, 2019-2026”, the market value stood at USD 6.37 billion in 2018. Within the report is also contained an exhaustive evaluation and analysis of the drivers, restraints, and other dynamics that will influence the market in the forecast period. Besides this, the report also provides a macroscopic overview of the general industry trends that will enable businesses to align their strategies with the needs of the market.

A spinal fusion device or implant is an orthopedic surgical mechanism which is used to join or keep in place two or more vertebrae. They consist of interbody devices, biologics, cervical fixation devices, and thoracolumbar fixation devices.

Growing Adoption of Surgical Robots for Spinal Injuries to Prove Favorable for the Market

There is an increasing demand for minimally invasive surgical procedures, prompting many hospitals to adopt robots for performing surgical procedures for the spinal treatments. As a result, manufacturers are now increasingly engaging in developing novel robotic technologies to aid surgeons perform tricky spinal cord surgeries with greater ease and accuracy. Thus, emergence of robotics in healthcare is, therefore, expected to shape the spinal fusion devices market trends during the forecast period.

North America to Hold a Commanding Position; Europe to Display Healthy Growth Pattern

With a revenue generation of USD 3.02 billion in 2018, North America is poised to dominate the spinal fusion devices market share. This will be a result of increasing incidence of chronic pain in the U.S. and a ready adoption of advanced spinal fusion implant devices. In Europe, a rising demand for 3D printed medical devices and a growing proclivity towards minimally invasive procedures will drive the market for spine fusion implants in the continent. Asia-Pacific is anticipated to experience soaring demand for spinal fusion devices owing to the rising prevalence of degenerative spinal disorders and steadily evolving reimbursement policies. In Latin America and the Middle East and Africa, improving healthcare infrastructure will mainly fuel the market for spinal fusion implants in these regions.

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Cosmeceuticals Market Size, Share and Growth

The global cosmeceuticals market size was at USD 50.75 billion in 2021. The market is projected to grow from USD 54.57 billion in 2022 to USD 96.23 billion by 2029, exhibiting a CAGR of 8.4% during the forecast period. This information is provided by Fortune Business Insights, in its report titled, “Cosmeceuticals Market, 2022-2029.”

COVID-19 Impacts:

Declined Dermatology-related Appointments to Reduce Demand amid COVID-19 Pandemic

The advent of COVID-19 noticeably obstructed the demand for cosmeceuticals across the globe. Moreover, a significant drop in the number of patient appointments recorded by pioneering dermatologists combined with closing down of shops involved in distribution of these products amid the lockdown announced by governments is among the few primary reasons for impacting the market unfavorably. Furthermore, there were termination of elective procedures comprising medical aesthetic processes to avoid the spread of COVID-19 and declined patient crowding at specialty clinics involved in the beautification treatment.

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Drivers and Restraints:

Surging Consciousness Regarding Cosmeceutical Products to Boost the Market Growth

Strong focus on programs by government establishments pooled with market players toward surging the alertness concerning skin and hair health among the common population has resulted in a greater number of people utilizing these products across the globe. Additionally, the advancement of active constituents by market players is among the prime aspects fueling the implementation of these products in developing as well as established countries.

The obtainability of low quality alternatives, owing to the absence of strict guidelines is a chief constraining factor for the cosmeceuticals market growth. Moreover, the scarcity of insurance reimbursement for these products is hindering the demand for these products in emerging nations during the forecast period.