Medical Devices Industry

  Track And Trace Solutions Industry Overview The global track and trace solutions market size was valued at USD 2.98 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 19.2% from 2022 to 2030. The market growth is majorly accredited to the growing rate of counterfeiting and theft of healthcare products worldwide. Biopharmaceutical, pharmaceutical, cosmetic products, and medical device manufacturers are adopting track and trace solutions and protecting their products and brand equity. Furthermore, favorable regulations for serialization implementation are anticipated to drive the application of track and trace solutions in the healthcare industry. The market is anticipated to witness significant growth owing to the rising deployment of track and trace solutions by pharmaceutical and medical device companies. Drug counterfeiting is a major problem faced by pharmaceutical and biopharmaceutical companies. Thus, companies are adopting track and trace...

  Magnetic Resonance Imaging Industry Overview The global magnetic resonance imaging market size was valued at USD 5.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2021 to 2028. Magnetic resonance imaging (MRI) is an efficient diagnostic machine for identifying diseases related to spine lesions, tumors, and stroke impacting the area of blood vessels and brain. The increasing prevalence of these diseases is expected to play an important role in market growth. For instance, as per the American Cancer Society, in 2019, 1,762,450 new cancer cases were recorded in the U.S. In addition to this, the growing demand for quick and effective diagnostic procedures is expected to contribute towards the adoption of MRI machines. Various countries are installing these MRI machines. For instance, as per OECD, in 2017 the number of MRI units installed in the U.S. was 37.6 per million population. Advancements in diagnostic techniques such as open M...

  Pediatric Home Healthcare Industry Overview The global pediatric home healthcare market size was valued at USD 37.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2021 to 2028. The availability of advanced technologies for providing continuous care and medical assistance at home to Children with Medical Complexities (CMC) is expected to fuel market growth. Life-sustaining pediatric home healthcare services in a comfortable environment have reduced hospital stays for infants with complex cardiac, neurological, and respiratory disorders. According to the National Survey of Children with Special Healthcare Needs, in 2016, one in every five children aged 5 to 19 requires special medical care. While the prevalence of Children with Special Healthcare Needs (CSHCN) is increasing, availability of pediatric home healthcare services improves the quality of life for these children and radically reduce their medical expense. Gather more insi...

Sports Nutrition Industry Overview The global sports nutrition market size was valued at USD 40.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030. Nutrition and diet are essential for maximum performance. Sports nutrition products offer benefits such as optimal gains from training, increased recovery between workouts and events, maintenance and achievement of ideal body weight, reduced injury risk, and performance consistency. Adoption of sports nutrition products by athletes owing to their advantages is a major parameter driving the market. Additionally, the consumption of sports nutrition products is rapidly increasing among fitness enthusiasts and active lifestyle consumers. Consumers are utilizing these products to gain energy and muscle and support weight management. Moreover, the prevalence of lifestyle diseases such as obesity is growing. According to an article published in the New England Journal of Medicine, approxim...

  Gluten-Free Products Industry Overview The global gluten-free products market size was valued at USD 5.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030. The rising prevalence of celiac disease and other diseases owing to unhealthy lifestyles is expected to drive the demand for gluten-free products. Consumption of healthy food products in order to prevent health disorders, such as heart diseases, diabetes, obesity, chronic pulmonary disease, and metabolic syndrome is expected to drive the growth of this market. The outbreak of the COVID-19 pandemic has exponentially impacted the usage of gluten-free products due to rising health, and wellness-related concerns among the consumers. Increasing incidence of Irritable Bowel Syndrome (IBS) and celiac diseases is expected to drive the demand for gluten-free products across developed as well as developing countries. A person suffering from the syndrome is sensitive to gluten a...

  Medical Device Testing Services Industry Overview The global medical device testing services market size was estimated at USD 8.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.3% from 2022 to 2030. The COVID-19 pandemic has accelerated the demand for testing services around the globe in the short term. The market is majorly driven by the increasing influence of strict regulations by the government that led to the increasing demand for verification and validation for medical devices. Besides, the rise in the number of small medical device companies that lack in-house expertise is also boosting the market growth.   COVID-19 provoked a surge in demand for medical device testing. But, since medical devices are in short supply, the vast majority of medical equipment being tested is personal protective equipment (PPE). PPE testing comprises validating their reuse, including single-use masks. Until the onset of the pandemic, most face ma...

  Biosensors Industry Overview The global biosensors market size was valued at USD 24.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030. Biosensor demand is increasing due to a variety of medical applications, a growing diabetes population, a high need for tiny diagnostic devices, and quick technological improvements. Accurate and early disease diagnosis is critical for a positive disease prognosis and patient survival. The demand for disposable, user-friendly, and cost-effective devices with quick response times has skyrocketed in recent years. These devices have made rapid progress in the medical field due to their ability to meet these criteria through an interdisciplinary combination of approaches from chemistry, nanotechnology, and medical science. The growth of the market, on the other hand, is influenced by a number of factors that affect the market's dynamics in both positive and negative ways. The growing d...

  Regulatory Affairs Outsourcing Industry Overview The global regulatory affairs outsourcing market size was estimated at USD 6.5 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030. The outsourcing of regulatory affairs has become an increasingly important practice in the healthcare industry. An increase in geographical expansion activities by companies that aim for speedy approvals in local markets is expected to contribute to the adoption of outsourcing models for regulatory services. The outsourcing market for regulatory affairs is expanding rapidly due to the increase in R&D activities, augmenting the volume of clinical trial applications and product registration. Companies are under constant pressure to procure timely clinical approvals from regulators in different regions. Such actions are further promoting the demand for regulatory affairs services thus contributing to the market growth. Regulatory affairs fun...

  In Vitro Fertilization Industry Overview The global in vitro fertilization market size was valued at USD 21.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030. The market size was valued at more than USD 1.0 billion in 2021 and is estimated to witness a CAGR of 5.00% over the forecast period. Rising reprotourism and the increasing cases of male and female infertility are the key factors driving the market growth. Infertility is one of the major health concerns faced by individuals globally. According to WHO, 8%-10% of couples globally suffer from infertility which is around 80 million couples worldwide. According to the American Pregnancy Association, male infertility accounts for 30% of infertility cases and contributes to around one-fifth of infertility cases. The average age of women and men getting married and having their first child is increasing. This trend has increased the number of women seeking t...

  Behavioral Health Care Software And Services Market pr1   Behavioral Health Care Software And Services Industry Overview The global behavioral health care software and services market size was valued at USD 2.9 billion in 2021 and is expected to expand at a CAGR of 12.78% during the forecast period. Government funding, increasing adoption of mental health software, favorable behavioral health reforms in the United States, government initiatives to promote EHR adoption in psychiatry hospitals and facilities, and high demand for mental health services despite provider shortages are major factors contributing to the market growth. The adoption of management software by healthcare providers is likely to improve the treatment of mental wellbeing issues. Also, the adoption of integrated EHRs can help behavioral health practices in effective practice management and cost-saving. Tele-mental health involves coordinating with patients at distant locations via video conferencing. T...

  Diabetes Devices Industry Overview The global diabetes devices market size was valued at USD 26.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2022 to 2030.   The market is primarily driven by factors such as an increase in technological advancements and rise in the incidences of obesity. Moreover, increasing adoption of insulin delivery devices and rising prevalence of diabetes are driving market growth. Leading manufacturers are focusing on technological innovations and development of advanced products to gain substantial share of the market. For instance, in 2019, Novo Nordisk collaborated with Abbott to integrate its prefilled and durable connected pens directly into the Free Style Libre system (Free Style Libre Linkii mobile app and Libre Vie wiii cloud-based system).   Individuals diagnosed with diabetes are at an increased risk for COVID-19, thereby accelerating the demand of diabetes devices to effectively ma...