Medical Devices Industry

  Ophthalmic Devices Industry Overview The global  ophthalmic devices market  size is expected to reach USD 9.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.0% from 2022 to 2030. The rising geriatric population is presumed to propel the need for ophthalmic devices as this age group is more prone to the development of chronic eye disorders. According to the National Institute on Aging (NIA), the geriatric population would be about 72 million individuals by 2030. The rising prevalence of eye disorders such as macular degeneration, cataract, diabetic retinopathy, and glaucoma is also boosting the growth of ophthalmic devices.   As per WHO, glaucoma accounts for 4.5 million cases of blindness globally. In the United States, glaucoma is termed as the "Silent Thief of Sight," which is the second-leading cause of blindness. The market growth can also be attributed to technological advancemen...

  Controlled Release Drug Delivery Industry Overview The global  controlled release drug delivery market  size is estimated to reach USD 110.13 billion by 2030, registering a CAGR of 10.5%, according to a new report by Grand View Research, Inc. The benefits associated with controlled release drug delivery systems such as increased therapeutic efficacy, fewer side effects, and low treatment cost are the factors driving the growth of the market during the forecast period. These technologies offer various benefits over traditional delivery forms. Reduced dosage and dosage frequency, enhanced patient compliance, less gastrointestinal side effects, uniform drug effect, improved drug efficacy and safety, and reduced fluctuation of plasma drug levels are some of the major advantages offered by controlled release technology.   The presence of multiple in-vivo biological barriers that affect the absorption, bioavailability, and stability of the drug has opened a wide horiz...

  Neurovascular Devices Industry Overview The global  neurovascular devices market  is anticipated to reach USD 4.51 billion by 2030, registering a CAGR of 6.0%, according to a new report by Grand View Research, Inc. Increasing incidence of neurological disorders such as stroke, brain aneurysm, cerebral artery stenosis, are fueling the market growth. For instance, the Stroke Association states that more than 100,000 people suffer from stroke every year in the U.K. Thereby, the numbers reveal the high demand for neurovascular devices, thus leading to market growth.   The outbreak of COVID-19 in the year 2020 has a short-term and moderate impact on the market as majority of elective brain surgeries were postponed to free-up limited space in healthcare settings to treat COVID-19 patients. However, patients suffering from COVID-19 have subsequently shown neurologic symptoms, which is expected to create a favorable environment for market growth in the near future. For ...

  Industrial Hemp Industry Overview The global  industrial hemp market  size is expected to reach USD 16.75 billion by 2030, registering a CAGR of 16.8% over the forecast period, according to a new report by Grand View Research, Inc. The rising product demand from industries, such as agriculture, textiles, personal care, recycling, furniture, food & beverage, paper, and construction materials, is projected to propel market growth. Hemp is increasingly being used in medicinal products and nutritional supplements. The high nutritional values and beneficial fatty acid and protein profile of hemp are driving the demand for hemp products in the market. In addition, hemp oil is used in shampoos, soaps, lotions, bath gels, and other cosmetics, further benefiting the industry growth.   The strength to weight ratio, high tensile strength, and flexural strength of industrial hemp offer desired benefits in bio-composites for automotive parts, fiberboard, aerospace, and p...

  Organic Personal Care Industry Overview The global  organic personal care market  size is expected to reach USD 42.19 billion by 2030, registering a CAGR of 9.1% over the forecast period, according to a new report by Grand View Research, Inc. Organic products are gaining traction among a growing number of consumers, driven by the rising environmental awareness globally. Usage of organically-sourced ingredients in product formulations is anticipated to surge in the next few years as per the trends observed in skincare product consumption. Demand for products free from synthetic fragrances, preservatives, parabens, petrochemicals, and harsh cleaners, such as sodium lauryl sulfate has been on the rise over the past few years.   Numerous market players are involved in manufacturing a variety of organic personal care products such as sunscreens, body lotions, shampoos, scrubs, anti-aging creams, make-up removers, masks and exfoliators, and eye care products...

  eClinical Solutions Industry Overview The global  eClinical solutions market  size is expected to reach USD 21.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.6% from 2022 to 2030. Increasing R&D activities by biopharma and pharma companies, application of software solutions in clinical trials, and expanding customer base are anticipated to fuel market growth. During the COVID-19 pandemic, clinical laboratories experienced high demand for COVID-19 tests. eClinical solutions, such as the clinical data management systems assisted these laboratories to seamlessly manage the huge influx of specimens daily. Technological advancements such as electronic data capture and Wi-Fi connectivity are projected to drive the market in the forthcoming years.   As the demand for tracking and analyzing clinical data increases, the need for effective clinical solutions rises. Unmet needs to manage effici...

  Medical Injection Molding Industry Overview The global  medical injection molding market  size is anticipated to reach USD 33.28 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to advance at a CAGR of 5.7% from 2022 to 2030. The global industry is primarily driven by the increased adoption of plastics in several healthcare products, coupled with rapid technological advancements in the medical sector.   With the advent of the COVID-19 pandemic, the injection molding industry has witnessed an uptick, particularly in the medical field, where it can provide accuracy, a wide range of operations, repeatability, and cleanliness. In addition, it provides cost-effective and efficient ways for producing high-volume parts and products. In recent years, the industry for medical injection molding has seen a boom with regard to the manufacturing processes of complicated healthcare products. Players are incorporating Industry 4....

  Genotyping Industry Overview The global  genotyping market  size is expected to reach USD 46.5 billion by 2030, expanding at a CAGR of 15.6%, according to a new report by Grand View Research Inc. Factors such as the rising prevalence of genetic diseases, rising awareness and research for personalized medicine, and increasing R&D funding for genomics research is expected to contribute to this growth.   Governments in multiple countries are taking various initiatives to provide support and funding to research organizations for personalized medicine, and genotyping research is anticipated to drive the market. For instance, in August 2019, NIH funded USD 4.6 million initial grants to Color, a health technology company, for precision medicine initiatives and development. Similarly, in 2018, the Government of Australia launched the Australian Genomics Health Futures Mission initiative. The government will provide USD 500 million over a period of 10 years for this ...

  Pharmaceutical Logistics Industry Overview The global  pharmaceutical logistics market  size is estimated to reach USD 163.9 billion by 2030, registering a CAGR of 8.6% from 2022 to 2030, according to a new study by Grand View Research, Inc. The market growth is primarily driven by the rising demand for a variety of drugs as a result of increasing cases of chronic and lifestyle-related diseases. The market is expected to witness a high growth rate in cold-chain and non-cold chain pharmaceutical logistics owing to the impact of COVID-19 across the globe. During this pandemic situation, the government and officials across countries are primarily focusing on preventive measures and the treatment of patients. The import and export of various medicines to treat coronavirus are increasing across all countries, including U.S. and China.   Along with international trade, the nationwide logistics of drugs are also expected to increase to fulfill the rising demand from al...

  Meat Substitute Industry Overview The global meat substitute market size was valued at USD 9.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 42.1% from 2022 to 2030. Intensive animal husbandry has been criticized by some sections of society because of its negative effects on the environment and animal welfare. This has led to the emergence of diets that exclude or limit the use of animal products. This is expected to facilitate the growth of the market for meat substitutes. The outbreak of the COVID-19 pandemic has drastically impacted the consumption pattern of traditional meat due to rising health consciousness among consumers. The fear of an increasing number of animal-borne diseases has raised health concerns among consumers, which has resulted in decreased intake of animal products. Consumer awareness of plant-based meat substitutes is rapidly growing, with more people demanding these because of their stated health benefits, such as t...