Clinical Laboratory Tests Industry Overview The global clinical laboratory tests market size was valued at USD 176.7 billion in 2019. It is expected to register a CAGR of 7.1% over the forecast period. Increasing prevalence of chronic diseases and rising awareness among health-conscious population have fueled the growth of the overall market.The demand for clinical laboratory tests is driven by growing investments in diagnosing target diseases such as cardiovascular disorders, tuberculosis, and diabetes. Clinical laboratory tests help diagnose diabetes mellitus. According to an article published by the International Diabetes Federation in 2019, around 463 million adults were living with diabetes, and by 2045 it is estimated to reach 700 million globally. Gather more insights about the market drivers, restrains and growth of the Global Clinical Laboratory Tests Market Increasing geriatric population is anticipated to drive the overall market for clinical laboratory tests. According to the data published by the World Population Prospects: the 2019 Revision, around one in 11 people were aged over 65 years in 2019, and by 2050, it is estimated that approximately one in 6 people in the world will be aged 65 years and above. Clinical laboratory tests are increasingly used to diagnose age-related diseases. Moreover, growing rate of insufficient exercise, consumption of unhealthy food, and the subsequent rise in cases of obesity are expected to increase the prevalence of various chronic diseases. Rising awareness of the necessity of regular body profiling among healthcare professionals and patients globally is expected to increase the demand for clinical laboratory tests. Browse through Grand View Research's Clinical Diagnostics Industry Research Reports.
Clinical Laboratory Tests Market Segmentation Grand View Research has segmented the global clinical laboratory tests market on the basis of type, end use, and region. Clinical Laboratory Tests Type Outlook (Revenue, USD Billion, 2016 - 2027)
Key Companies profiled: Some prominent players in the global clinical laboratory tests market include
Order a free sample PDF of the Clinical Laboratory Tests Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Liquid Biopsy Industry Overview The global liquid biopsy market size was valued at USD 7.03 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 13.5% during the forecast period. The increasing prevalence of cancer coupled with the rise in demand for fast, minimally invasive diagnostic tests drives the market growth. According to the American Cancer Society, in 2021, 235,760 people are estimated to be diagnosed with non-small-cell lung cancer, the most common form of lung cancer in the U.S. Overall, around one in 17 men and one in 15 women are at risk of developing lung cancer in their lifetime. Thus, the need for the implementation of liquid biopsy tests is growing to diagnose and eradicate cancer in a target population. Gather more insights about the market drivers, restrains and growth of the Global Liquid Biopsy Market With the onset of the COVID-19 pandemic, cancer diagnoses are getting delayed as diagnosis services and screening programs have reduced. Cancer patients are facing many challenges amid the pandemic, such as susceptibility to severe infection and interruption of cancer or usual medical care. Amidst the pandemic, several companies have adopted various strategic initiatives for providing safe and easy in-home access for liquid biopsy tests. For instance, in November 2020, NeoGenomics, Inc. launched a mobile phlebotomy service for liquid biopsy tests, including NeoLAB and InvisionFirst. The company offers its service through two phlebotomy companies, ExamOne and Metro Health Staffing LLC, for broad geographic coverage to ensure tests are performed efficiently. In these cases, liquid biopsy provides an efficient alternative to traditional screening. The technology assists in early cancer detection and prevents the disease to reach a stage when it can adversely affect a patient’s survival. Liquid biopsies are extremely sensitive and are based on blood tests. In addition, they can reduce the risk of COVID-19 transmission during the procedure, which is expected to be a major factor fueling the global market growth. Researchers from Cornell University are developing a liquid biopsy test that can detect and measure injury to cells, tissue, and organs due to COVID-19. The test is to evaluate the severity of the disease and project their outcomes. In addition, it can reveal the involvement of various organs in the disorder. This is expected to increase R&D funding, further stimulating market growth. Browse through Grand View Research's Clinical Diagnostics Industry Research Reports.
Liquid Biopsy Market Segmentation Grand View Research has segmented the global liquid biopsy market on the basis of sample type, biomarker, technology, and region: Liquid Biopsy Sample Type Outlook (Revenue, USD Million, 2017 - 2028)
Market Share Insights
Key Companies profiled: Some prominent players in the global liquid biopsy market include
Order a free sample PDF of the Liquid Biopsy Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Human Growth Hormone Industry Overview The global human growth hormone market size was valued at USD 4.6 billion in 2019 and is estimated to register a CAGR of 8.2% over the forecast period. Factors such as investments by market players, the presence of a strong pipeline, extensive R&D activities, robust product portfolio, and increasing government initiatives are expected to significantly drive the market. Human growth hormone (HGH), also known as somatotropin, is a peptide hormone responsible for growth stimulation, cell reproduction, and cell regeneration in humans and is hence important for human development. Growth hormone (GH) deficiency in humans is caused when the pituitary gland does not synthesize enough concentration of hGH. This deficiency in humans is treated by administering recombinant human growth hormone by subcutaneous injection. Various genetic disorders, including Prader-Willi syndrome and Turner syndrome, may also cause growth hormone deficiency in humans, leading to delayed puberty and shorter-than-average height. Gather more insights about the market drivers, restrains and growth of the Global Human Growth Hormone Market According to data published by the American Academy of Pediatrics, growth hormone deficiency among humans is a rare condition and affects less than one in 3,000 to one in 10,000 children in U.S. Currently, hGH is widely abused as an anti-aging treatment in older adults and as a performance-enhancing anabolic drug by bodybuilders and athletes. However, HGH is a controlled substance as per the USFDA and has not been approved for anti-aging and performance-enhancing indications. Robust product pipeline and extensive R&D activities for the development of novel growth hormone therapies are expected to be the major factors driving the market for human growth hormones. For instance, in September 2018, Novo Nordisk presented Phase II clinical trial data of its investigational GH therapy, Somapacitan, indicated for the treatment of pediatric growth hormone deficiency. In addition, in May 2019, Ascendis Pharma A/S published results from the Phase III clinical trial of its TransCon hGH, indicated for pediatric growth hormone deficiency. Similarly, various key players including Teva Pharmaceutical Industries, Ltd.; OPKO Health, Inc.; Eli Lilly and Company; Ferring Pharmaceuticals; Sanofi S.A.; and LG Life Sciences are involved in R&D activities for the development of novel human growth hormone therapies. Furthermore, initiatives taken by various government and private organizations to spread awareness about GH deficiencies and human growth hormone treatment are expected to drive the market. Every year, the International Coalition of Organizations Supporting Endocrine Patients (ICOSEP), a U.S.-based nonprofit charitable organization, celebrates International Children’s Growth Awareness Day to spread awareness about the early diagnosis and treatment of growth hormone disorders among humans, especially children. However, the high cost of hGH therapies and various adverse effects related to hGH may hinder market progress over the forecast period. For instance, according to UPMC Children’s Hospital of Pittsburgh, the possible side effects of GH hormone therapy include knee, hip, or other joint pain; allergic reactions, including rash, swelling, or hives; and an increase in blood sugar levels. Browse through Grand View Research's Pharmaceuticals Industry Research Reports.
Human Growth Hormone Market Segmentation Grand View Research has segmented the global human growth hormone market on the basis of application, distribution channel, and region: Human Growth Hormone (HGH) Application Outlook (Revenue, USD Million, 2016 - 2027)
Market Share Insights
Key Companies profiled: Some prominent players in the global human growth hormone market include
Order a free sample PDF of the Human Growth Hormone Market Intelligence Study, published by Grand View Research. Ambulatory Surgery Center Industry Overview The global ambulatory surgery center market size was valued at USD 75.2 billion in 2018 and is estimated to register a CAGR of 6.1% over the forecast period. Increasing demand for minimally invasive surgeries, technological developments in surgical devices and equipment, and surgeons’ control over the choice of such equipment are some of the factors responsible for ASC market growth. Rising healthcare costs are a major concern plaguing the industry and with it comes the fact that not many patients can afford the treatment they need, including surgical procedures. This has compelled healthcare providers to come up with new ways to make such services more affordable while also focusing on quality. ASCs have proven to be an effective solution in this scenario. Gather more insights about the market drivers, restrains and growth of the Global Ambulatory Surgery Center Market High hospitalization costs have also translated into dipping patient admissions in hospitals, with the number of outpatient visits witnessing a surge. According to the American Hospital Association, the total number of outpatient admissions increased from 624 million in 2008 to 675 million in 2012, while the number of inpatient admissions decreased from 35.76 million to 34.40 million in the same duration. The hike in outpatient admissions can also be attributed to the adoption of technologically advanced techniques in outpatient centers, rendering treatment cost-effective and speedier. Advanced surgical methods in such settings enable tests and procedures to be performed without hospital admission. The rising number of collaborations and acquisitions in the field is also a key factor expected to drive the ASC market through 2026. In January 2017, Surgical Care Affiliates, Inc. (SCA) and Optum entered into an agreement to expand OptumCare’s capabilities in outpatient surgical procedures. In December 2016, SCA collaborated with Midwest Center for Day Surgery. The partnership was aimed at expanding SCA’s position as a low-cost, high-quality surgical services provider in Chicago. In addition, in December 2016, SCA entered into a partnership with Surgery Center at Doral (SCD) to enhance its presence in Miami. This collaboration was targeted to help provide high-quality surgical care at low costs to patients. Browse through Grand View Research's Medical Devices Industry Research Reports.
Ambulatory Surgery Center Market Segmentation Grand View Research has segmented the global ambulatory surgery center market by application and region: ASC Application Outlook (Revenue, USD Million, 2015 - 2026)
Market Share Insights
Key Companies profiled: Some prominent players in the global ambulatory surgery center market include
Order a free sample PDF of the Ambulatory Surgery Center Market Intelligence Study, published by Grand View Research. Biotechnology Industry Overview
The global biotechnology market size was valued at USD 752.88 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.83% from 2021 to 2028. The market is driven by favorable government initiatives owing to the growth of the biotechnology sector in developing countries, such as India and China. Government initiatives are oriented towards modernizing the drug regulatory pathway, standardizing clinical studies, improving reimbursement policies, and speeding up the product approval process, thereby offering lucrative growth opportunities to the market. In addition, in 2019, small molecules dominated the pharmaceutical compounds pipeline with around 22 U.S. FDA approvals as compared to eight large molecules (biotech). Around 4 out of every 10 drugs are biotech derived, which can be attributed to the growing demand for orphan drugs and personalized medicine. This is driving the influx of emerging and innovative biotechnologies companies, further boosting the market revenue. Gather more insights about the market drivers, restrains and growth of the Global Biotechnology Market Moreover, agricultural-input companies are focusing on improving the existing technologies that include the development of new stacked traits in crops and new germplasm by breeding innovations and gene sequencing. Companies are focusing on bringing agricultural innovations to the market for improving productivity with sustainable solutions. For instance, in February 2020, BASF announced that by 2029, the company will launch more than 30 projects for developing novel seeds, traits, biological and chemical crop protection solutions, new formulations, and digital products. Hence, extensive use of biotechnology techniques essential to enhance agricultural products contributes to the market growth. Furthermore, the COVID-19 pandemic acts as a positive catalyst to market growth. Biotech companies are the frontrunners in the development of drugs targeting COVID-19. For instance, just after 8 months of the first case of COVID-19, Gilead Sciences, Inc. received the U.S. FDA approval for antiviral Remdesivir for the treatment of COVID-19 patients. In addition, expanding the involvement of the biotechnology industry with diagnostic companies, drug manufacturers, research laboratories, and multinational pharmaceutical companies for developing therapeutic molecules to target COVID-19 is contributing to the market growth. For instance, in March 2020, Pfizer Inc. entered into a collaboration with BioNTech SE for the development of BNT162, COVID-19 vaccine candidate. BioNTech SE developed the vaccine using mRNA technology for the rapid development of the COVID-19 vaccine. Browse through Grand View Research's Biotechnology Industry Research Reports.
Biotechnology Market Segmentation Grand View Research has segmented the global biotechnology market on the basis of technology, application, and region: Biotechnology Technology Outlook (Revenue, USD Billion, 2017 - 2028)
Key Companies profiled: Some prominent players in the global biotechnology market include
Order a free sample PDF of the Biotechnology Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Scar Treatment Industry Overview The global scar treatment market size was valued at USD 12.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.1% from 2021 to 2028. The market is largely being driven by the increasing need for improving aesthetic appeal in individuals and complete skin rejuvenation. Women account for the majority of the demand as they are more concerned about their appearance. The increasing number of road accidents and burn injuries have also resulted in a rise in the demand for cosmetic procedures on a global scale. A global increase in the number of hypertrophic burn marks, wherein the victim’s appearance has become distorted, is also boosting the demand for scar treatment products. Gather more insights about the market drivers, restrains and growth of the Global Scar Treatment Market The first two waves of the COVID-19 pandemic were marked by the rapid adoption of telemedicine in all domains of the healthcare sector. Skincare, being non-emergency, requires minimal hospital visits. Even though final procedures require a patient to visit the hospital or doctors’ office, pre-planning and post-procedure management are largely preferred through telemedicine. COVID-19 may have temporarily impeded the market growth in 2020, the trends of telemedicine are expected to play an important factor in optimizing the market growth as compared to non-covid situations. In addition, the adoption of ambulatory surgery centers and the development of portable or mobile scar treatment devices are expected to boost the growth of the market in both, developed as well as developing regions. The growing number of road accidents is one of the high-impact rendering factors, raising the demand for scar treatment products. According to Population Reference Bureau, around 50 million people are injured due to road accidents every year, which frequently leads to the occurrence of scars, requiring surgical treatment. In addition, patients who undergo such surgeries develop surgical scars and are provided topical products to improve and reduce their appearance. Hence, the rising number of road accidents, coupled with the increasing number of cosmetic surgeries, is expected to propel the need for topical products for scar treatment. According to Plastic Surgery Statistics Report, 181,132 scar revision procedures were performed in 2019, making it one of the top five performed reconstruction procedures. Hence, the demand for greater aesthetic appeal plays an important role in increasing the number of reconstructive surgical cases for scar revision. In addition to skin corrective surgeries, scar treatment products are also widely adopted. Browse through Grand View Research's Medical Devices Industry Research Reports.
Scar Treatment Market Segmentation Grand View Research has segmented the global scar treatment market on the basis of product, scar type, end use, and region: Scar Treatment Product Outlook (Revenue, USD Million, 2016 - 2028)
Market Share Insights
Key Companies profiled: Some prominent players in the global scar treatment market include
Order a free sample PDF of the Scar Treatment Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Medical Foods Industry Overview The global medical foods market size was valued at USD 21.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030. The growing prevalence of communicable and non-communicable diseases and increasing effort for the dietary management of those diseases are anticipated to propel the market growth over the forecast years. For instance, as per the research data published by the University of Liege, it has been estimated that in Europe, the sarcopenia population will increase to 12.9% by 2045 from 11.1% in 2016. The increasing geriatric population suffering from several chronic and neurogenic disorders such as dementia, stroke, multiple sclerosis, and difficulty in swallowing requires specific dietary management, which, in turn, is expected to drive the market over the forecast years. Gather more insights about the market drivers, restrains and growth of the Global Medical Foods Market For instance, according to the WHO, the world population aged over 60 years of age is expected to be doubled from 12% to 22% between the years 2015 and 2050. Furthermore, increasing preference to consume specific foods in order to manage chronic diseases such as obesity, diabetes, and other nutritional diseases is anticipated to drive the adoption of medical foods. In addition, medical foods are intended for specific dietary management with distinctive nutritional requirements to treat specific diseases, which are expected to drive the market. Growing product launch activities by the manufacturers and constant innovations in product development are the major factors anticipated to propel the product demand. Besides, in order to treat new inherited metabolic disorders and manage their incurable condition, there is a growing demand for the development of new food for special medical purposes. For instance, in October 2020, Nestle Health Science launched protein-based ready-to-drink nutritional food in China for special medical purposes (FSMPs). The main component of that drink is a galactomannan, a highly soluble dietary fiber, which can improve and prevent gastrointestinal intolerance and diarrhea. In addition, in June 2018, VAYA Pharma, Inc. introduced Vayarin Plus, an extra-strength formula, and expanded its medical food product offerings, which offer clinical dietary management for ADHD adults weighing more than 97 lbs and in adolescents. In addition, increasing consideration of medical foods to manage and control diabetic neuropathy and diabetes is expected to accelerate the market growth. Diabetes is one of the major chronic diseases and the prevalence has been constantly rising. According to the WHO data published in 2019, approximately 1.5 million deaths are caused directly due to diabetes and it was considered to be the ninth leading cause of death. An unhealthy lifestyle and diet are the leading causes of diabetic neuropathy and medical foods act as a remedy to improve and manage these kinds of disorders. For instance, as per the International Diabetic Federation data in 2019, about 463 million adults are living with diabetes and this number will rise to 700 million by 2045. Several industry consolidation activities by the manufacturers in the clinical nutrition industry are also expected to propel the market growth over the forecast years. Activities by the manufacturers such as acquisitions, mergers, product launches, and partnerships to enhance their product reach are expected to propel market growth over the coming years. For instance, in January 2020, Nestle entered into an Asset Purchase Agreement to expand its business of clinical nutrition by acquiring Zenpen. Browse through Grand View Research's Pharmaceuticals Industry Research Reports.
Medical Foods Market Segmentation Grand View Research has segmented the global medical foods market on the basis of route of administration, product, application, sales channel, and region: Medical Foods Route of Administration Outlook (Revenue, USD Million, 2016 - 2030)
Market Share Insights
Key Companies profiled: Some prominent players in the global medical foods market include
Order a free sample PDF of the Medical Foods Market Intelligence Study, published by Grand View Research. Healthcare IT Market Is Estimated To Grow As Of Rising Demand For Preventive Care Solutions To 20306/20/2022 Healthcare IT Industry Overview
The global healthcare IT market size was valued at USD 135.6 billion in 2021 and is projected to exhibit a CAGR of 29.3% in the forecast period. The growing trend of digitalization in healthcare, rising demand for preventive care solutions, the emergence of various entrepreneurship ventures, and growing partnerships & funding are propelling the market growth. Furthermore, the evolution and advancements in network connectivity and development of network infrastructure coupled with increased healthcare IT spending are driving the market growth. Key participants are focusing on innovative product development strategies and are making constant technological advancements with support from improving IT infrastructure. Market players are integrating big data, Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) algorithms in their existing solutions to enhance health & medical processes, which is fueling the market growth. Gather more insights about the market drivers, restrains and growth of the Global Healthcare IT Market Growing healthcare expenditure coupled with rising consumer demand for efficient, effective, and advanced treatment solutions is supporting the development and growth of the market. Increasing consumer awareness towards innovative and upgraded solutions is boosting market growth over the forthcoming years. As per a Healthcare IT News article published in 2020, healthcare IT services have witnessed an upsurge in adoption over the past years, whilst remote monitoring services recorded an increment in adoption from 13% in 2016 to 22% in 2019. Growing smartphone penetration and improving internet coverage are directly contributing to the adoption of healthcare IT solutions. According to Data Report January 2022 estimates, 5.31 billion individuals globally are unique mobile phone years and approximately 4.95 billion individuals are internet users. In addition, as per The Mobile Economy 2020 estimates, the unique mobile phone users are expected to reach 5.8 billion by 2025. In addition, the number of internet users across the globe increased by 192 million in 2021 in comparison to 2020, and globally, the number of internet users is growing at 4% annually. Furthermore, technological advancements in the field of smartphones and internet connectivity to improve clinical outcomes, patient experience, and patient engagement is expected to accelerate market growth. Browse through Grand View Research's Healthcare IT Industry Research Reports.
Healthcare IT Market Segmentation Grand View Research has segmented the market based on application, and region: Healthcare IT Application Outlook (Revenue, USD Million, 2016 - 2030)
Key Companies profiled: Some prominent players in the global healthcare IT market include
Order a free sample PDF of the Healthcare IT Market Intelligence Study, published by Grand View Research. Contrast Media Industry Overview
The global contrast media market size was valued at USD 4.04 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.33% from 2022 to 2030. The growing prevalence of complex comorbidities and long-term diseases has led to an increase in diagnostic imaging tests, including ultrasound, X-rays, and advanced imaging technology such as MRI & CT scans. According to the National Health Council, in 2020, nearly 157 million people in the U.S. were affected by chronic diseases, out of which around 81 million had multiple conditions, which is indicative of a high incidence of chronic conditions. Gather more insights about the market drivers, restrains and growth of the Global Contrast Media Market The prevalence of chronic conditions with multiple comorbidities is higher among older adults. According to the National Council on Aging, nearly 80% of people aged 65 & above suffer from at least one chronic condition, with almost 70% of Medicare beneficiaries suffering from more than 2 chronic conditions, and nearly 77.0 million people in the U.S. are estimated to be aged 65 & above by 2034. Furthermore, according to a report by the American Heart Association, the incidence of heart failure is increasing in the U.S., and it is one of the leading causes of death in the country. In 2020, approximately 659,000 people died due to cardiovascular diseases in the U.S. By 2030, the number of people with heart diseases is estimated to increase by 46%. Browse through Grand View Research's Medical Devices Industry Research Reports.
Contrast Media Market Segmentation Grand View Research has segmented the global contrast media market based on modality, product type, application, and region: Contrast Media Modality Outlook (Revenue, USD Million, 2017 - 2030)
Market Share Insights
Key Companies profiled: Some prominent players in the global contrast media market include
Order a free sample PDF of the Contrast Media Market Intelligence Study, published by Grand View Research. |
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