Medical Devices Industry

  Vaginal Rejuvenation Industry Overview The global vaginal rejuvenation market size was estimated at USD 1.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.1% by 2030. Changing women’s lifestyles and growing awareness of the associated therapy or surgery are expected to drive the market during the forecast period. In addition, growing awareness of cosmetic procedures, especially female aesthetic genital surgery is anticipated to fuel the market in the future. The outbreak of the COVID-19 led many aesthetic facilities to completely halt their services and permanently cancel appointments as they were considered non-essential and high contact in nature. Surgical aesthetic treatments like vaginal rejuvenation also witnessed a setback and the number of procedures declined due to the pandemic. The increasing popularity of radiofrequency-based treatments is also driving the market. Radiofrequency-based devices, such as Viveve and Geneveve are ga...

  Specialty Medical Chairs Industry Overview The global specialty medical chairs market size was valued at USD 3.92 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% during the forecast period. The demand for specialty medical chairs is expected to rise as the elderly population grows. The growing target population will boost the product demand. In addition, the introduction of technologically advanced and fully automated medical chairs is anticipated to serve the market with lucrative growth opportunities. The COVID-19 pandemic affected various industries across the globe. Stay-at-home mandates, transportation bans, and workforce crunch have disrupted the specialty medical chairs supply chain. In 2020, the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) added Section 506J to the Federal Food, Drug, and Cosmetic Act (FD&C Act), which empowered the FDA to prevent or mitigate negative public health impacts of medical device...

  North America, Europe & Asia Pacific Legal Cannabis Industry Overview The North America, Europe, and Asia Pacific legal cannabis market size was valued at USD 18.1 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 22.3% from 2023 to 2030.  On the economic front, recreational-use marijuana legalization will help create new job possibilities and add significantly to the economy. Tourism, real estate, finance, food, and transportation are just a few of the industries that will benefit from legalization. Many banks, for example, have begun to accept loans for marijuana businesses, which will gain traction following the legalization of marijuana for adult use. As a result, the upcoming recreational-use legalization is likely to increase the demand for  legal cannabis  and shrink the criminal market. The presence of strict laws, on the other hand, makes it more difficult for manufacturers to establish a workabl...

  U.S. Skilled Nursing Facility Industry Overview The U.S. skilled nursing facility market size was valued at USD 179.0 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 3.43% from 2023 to 2030.  Skilled nursing facilities (SNFs) provide high-quality care services at a much lower cost as compared to hospitals, generating tremendous demand among investors. The increasing geriatric population and high prevalence of multiple chronic diseases in the U.S. are boosting the market growth. According to the United States Census Bureau, there are currently about 54 million adults aged 65 and up in the U.S., accounting for around 16.5 % of the population. The number of elderly people in the country is significant and is expected to continue to rise until 2050 when the total number of adults aged 65 and more is expected to reach 85.7 million. This equates to roughly 20% of the total population of the United States. Gather more insi...

  Healthcare Electronic Data Interchange Industry Overview The global healthcare electronic data interchange market size was valued at USD 4.0 billion in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 9.6% from 2022 to 2030. Rising need to curb healthcare costs coupled with technological advancements in electronic data interchange (EDI) is expected to facilitate market growth. Additionally, a surge in the number of end-users coupled with increasing adoption of EDI is expected to support the market growth during the forecast period. Healthcare EDI helps in the automation of business processes from claims submission and payment, insurance eligibility checks, and data reporting. Claim submissions are considered to be the most common electronic transaction in health care as per the Maryland Healthcare Commission. EDI thus finds notable applications in this segment. The electronic data interchange helps in keeping healthcare costs at an affordable level,...

  U.S. Disposable Face Mask Industry Overview The U.S. disposable face mask market size was valued at USD 8,316.5 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of -25.2% from 2022 to 2030. Rising pollution levels, increased usage among consumers, and more knowledge about health and well-being are the primary factors driving the market. In addition, the rising number of operations conducted daily, along with the unprecedented spread of the coronavirus, is encouraging the use of  disposable face masks . Furthermore, the rising frequency of airborne illnesses, rising mask consumption for personnel usage, and rising incidence of hospital-acquired infections might make disposable face masks a profitable business. The COVID-19 (coronavirus) outbreak that began in China during the first half of 2020 is likely to benefit the global market. The very function of disposable face masks necessitates their consumption worldwide during an outbreak of suc...

  Johne's Disease Diagnostics Industry Overview The global Johne’s disease diagnostics market size was valued at USD 0.58 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of over 5.1% from 2022 to 2030. The global trend of digitalization in healthcare has also impacted the animal health industry including Johne’s disease diagnostics. Companies are investing in product development to incorporate better testing accuracy, validating devices, expanding the test menu, and automating the process as much as possible, thus reducing the complexity of operating the device. Point-of-care testing for infectious diseases also presents high-value targets, especially if they affect livestock animals or if the disease is transmissible from animals to people. The COVID-19 pandemic resulted in a decline in the market for Johne’s disease diagnostics, especially during 2020. This adverse impact is mainly attributable to the closure of and restricted access to...

  AI-based Clinical Trials Solution Provider Industry Overview The global AI-based clinical trials solution provider market size was valued at USD 1.6 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 22.0% from 2023 to 2030. The increasing adoption of AI-based platforms to improve the productivity and efficacy of trials at various stages is driving the market for AI-based clinical trial solution providers. Also, the supportive initiatives by the private and public sectors for different therapeutic areas are some of the factors propelling the market growth. Furthermore, the rising awareness and diversified applications provided by AI in the field of clinical trials such as designing drug trials, improved patient selection, site selection, patient monitoring, etc. is bolstering the market growth.   The utilization of AI in drug trials can be useful to improve the cost, clinical outcomes, and time required for drug trials,...

  Surgical Display Industry Overview The global  surgical display market  size is anticipated to reach USD 702.6 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 0.9% from 2021 to 2028. The key factors driving the market include the rising number of surgical procedures and growing digitalization in the healthcare sector. Furthermore, technological advancements by market players are also anticipated to positively influence market growth. According to the Medical Project Manager of ADLINK Technology, Inc., the company’s surgical displays are designed by combining the features of the top 5 monitors in the market. Launched under the ASM surgical monitor series in 2021, the new lineup is optimized for superior image visualization. The monitors are intended to support surgeons and caregivers, especially during the COVID-19 pandemic, to quickly complete diagnoses via high-precision monitors to keep ...

  Animal Based Protein Supplements Industry Overview The global  animal based protein supplements market  size is expected to reach USD 22.26 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.4% from 2020 to 2028. Increasing instances of fitness and sporting activities among consumers have led to nutrition awareness, thus positively impacting the market growth. The whey raw material segment dominated the global market in 2020 owing to the availability of high protein content in it. Additionally, it is increasingly being used as a protein source for fortifying functional and nutritional food products, which is further expected to increase its demand during the forecast period. The protein powder product segment accounted for the largest revenue share in 2020. The escalating global trends of exercise and fitness, coupled with a strong preference among consumers for  snacks  that boost energy and aid ...