Medical Devices Industry

  COVID-19 Clinical Trials Industry Overview The global COVID-19 clinical trials market size is valued at 5.0 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.5% from 2021 to 2027. The market is majorly driven by the rapid spread of coronavirus leading to a staggering number of deaths globally thus putting pressure on healthcare organizations to provide therapeutics/vaccines. The increasing research activities on a global scale are also creating demand for COVID-19 clinical trials, boosting the market growth. Factors such as globalization of clinical trials, demand for CROs to conduct clinical trials, and technological evolution, are further anticipated to drive growth. As per the World Health Organization (WHO), till June 24th, 2020, the virus had infected around 9.1 million people globally and had claimed more than 0.47 million lives with 80% cases in the U.S. and Europe overtaking China where the pandemic first began in December 2019. The U.S...

  Preparative And Process Chromatography Industry Overview The global preparative and process chromatography market size was valued at USD 7.15 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.65% from 2021 to 2028. Large-scale integration of liquid chromatographic techniques in downstream processing, technological advancements, and high demand for preparative techniques have accelerated the growth in this space. Increasing demand and approval of monoclonal antibodies in the pharmaceutical and biotechnology industries are expected to fuel the growth in this space throughout the forecast period. This can be attributed to the higher penetration of the service providers in the antibody separation techniques that are based on chromatographic principles, such as affinity chromatography and column displacement chromatography. Moreover, ongoing research paradigms for the separation and analysis of monoclonal antibodies using the mild reverse phase c...

  Advanced Therapy Medicinal Products Industry Overview The global advanced therapy medicinal products market size was valued at USD 7.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.2% from 2021 to 2028. The emergence of Advanced Therapy Medicinal Products (ATMPs) has transformed the pharmaceutical industry and disease treatment landscape. It has opened new routes for the treatment of incurable diseases and several cancer types. The success of products such as Kymriah, Zolgensma, and others is the key factor driving the market. The COVID-19 pandemic has triggered the application of advanced therapies in virology research to a major extent. A study was issued in December 2020 which stated the potential of T-cell therapy for the treatment of high-risk COVID-19 infected individuals. Prior to this, in September 2020, the U.S. FDA has approved the ALVR109 (an allogeneic T-cell therapy IND application) designed for the treatment of COVID-19 pa...

  Neurovascular Catheters Industry Overview The global neurovascular catheters market size was valued at USD 2.88 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028. The increasing prevalence of neurological conditions such as brain aneurysm and stroke, the adoption of an unhealthy lifestyle, increasing awareness among the population about the treatment of neurological conditions, increasing disposable income, and new product launch by the key market players are some of the prime factors driving the market. The COVID-19 pandemic has posed a significant challenge by limiting access to medical services resulting in inadequate medical services for patients suffering from other diseases. Neurocare clinics and neurosurgeons have been adversely impacted by the pandemic. During this period, brain-related surgeries are often being postponed or even canceled due to the lower transmission of the disease. Neurosurgical procedures (vol...

  Intragastric Balloons Industry Overview The global intragastric balloons market size was valued at USD 14.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028. The increasing prevalence of obesity is anticipated to drive market growth. Furthermore, the rise in demand for minimally invasive procedures is anticipated to further boost the market growth. Obesity is a major health concern across the globe. The obesity pandemic is expected to continue increasing over the forecast period, thus fueling the market growth. For instance, according to the World Health Organization (2016) data, nearly 2 billion individuals were overweight, and out of which around 650 million were obese. In addition, it is estimated that, by 2025, 2.7 billion individuals will be overweight and around 1.0 billion will be obese. Despite the high prevalence of obesity and the wide acceptance of weight-loss surgical procedures (such as gastric bypass and ...

Life Science Tools Industry Overview The global life science tools market size was computed at USD 92.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028. The anticipated growth in revenue is attributed to rapid technological advancements adopted by the life science tools companies in mass spectrometry, sequencing technologies, chromatography methods, NMR, and other products. An exponential rise in the COVID-19 cases globally boosts the demand for life science tools for rapid diagnosis. As the world is engaged in curbing the spread of COVID-19, automation and robotic technologies play an important role in accelerating manual and redundant tasks in pharmaceutical companies and laboratories. To overcome the COVID-19 pandemic, drug developers are continuously working on the development of vaccines and other treatment options. The robotic companies are highly active in this space and are offering automated solutions to drug develo...

  Multiparameter Patient Monitoring Systems Industry Overview The global multiparameter patient monitoring systems market size was valued at USD 10.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028. The growing demand for early diagnosis and treatment of chronic diseases, high demand for real-time patient monitors in critical care units, the need to make better clinical decisions on the spot, and documenting changes in a patient’s condition at every stage are factors likely to boost the market growth. Globally, the coronavirus outbreak resulted in historic losses across markets, driving countries into financial crises. According to the CDC, in March 2020, regulators and health authorities ordered all private clinics to immediately stop seeing patients, except for emergency treatment, leading to high revenue loss across the sector. However, the pandemic has had a positive effect on the multiparameter monitoring devices mar...