Farming As A Service Market Size Worth $9.02 Billion By 2030

 

Farming As A Service Market Growth & Trends

The global farming as a service market is projected to reach USD 9.02 billion by 2030, according to the new report by Grand View Research, Inc. The market is expected to witness a CAGR of 14.5% from 2022 to 2030. Farming as a service refers to using technologies such as machine learning and the internet of things in yield monitoring and collecting weather data. After the collection of data on these metrics, various algorithms are applied on these metrics to gather meaningful insights and analytics. These insights are used to boost the farm’s production and address any shortcomings that can be adjusted to get a higher level of productivity.

The market for farming as a service is segmented into three groups: service type, delivery model, and end-user. The service comprises three subcategories: access to markets, farm management solutions, and production support. For effective farm management, analytics is provided for yield monitoring, weather data, germination data, soil quality data, etc. Access to markets deals with cutting out intermediaries and linking farmers directly to suppliers and marketplaces using technologies like mobile apps.

Production support includes renting or leasing equipment such as tractors, combine harvesters, and labor provision services. Subscription and pay-per-use delivery models are used by the farmers servicing the farming. Renting out equipment through subscriptions for a fixed period is called a subscription, whereas pay per use is referred to as paying each time the equipment is used. Farmers, government, businesses, financial institutions, and advisory bodies are the end users of FaaS.

The significant drivers of farming as a service include growing internet access in rural areas, which supports market growth. Fast internet access assists farmers in numerous ways. It enables them to utilize data-driven analytics for appropriate seeds and precise amounts of fertilizer and conduct soil analysis to test the nutrition profile. The use of data-driven decision-making tools helps reduce wastage, lowering production costs.

Owing to the several advantages, such as enhanced productivity and efficiency through data-driven decisions, the use of FaaS will rise in the coming years as the internet connectivity in rural areas continues to improve Inefficiencies in the agricultural supply chain, such as low productivity, a lack of farm mechanization, market access, and data asymmetry, can be addressed with the aid of FaaS. It promotes the development of new products, including technologies for instantaneous data collection and analysis and agricultural machinery with many uses.

Multiple established companies and new businesses/ startups are entering the market because of the market’s enormous potential. TAFE, ITC Ltd., Cropin Technology Solutions Pvt. Ltd., and Deere & Company are some new entrants in the FaaS market. Companies focus on product development and geographical expansion to gain a foothold in the market.

For instance, to grow its business in Eastern India, DeHaat introduced the franchise model in July 2020. The company uses this strategy to acquire agricultural inputs from vendors like Bayer Crop Sciences, sell them to farmers, and buy their products from farms within a three to the six-kilometer radius. For another instance, AGCO Corporation’s assembly and distribution facility for Massey Ferguson small and utility tractors and equipment and Fendt high horsepower tractors were expanded in November 2019. The facility is based in Edgewood, Maryland.

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Farming As A Service Market Report

Farming As A Service Market Report Highlights

• Farming as a Service is gaining traction owing to the efficient and data-driven agriculture possible with the services, thereby improving the farm outputs
• The farm management solutions segment dominated the market in 2021 and is expected to expand its revenue share to more than 76% by 2030. Precision farming tools are the largest sub-segment of farm management solutions in terms of revenue
• The subscription delivery model segment contributed to more than half of the market share in 2021 and is expected to continue its domination during the forecast period
• Farmers are the largest end-users of the services offered under farming as a service. The farmer end-user segment is also expected to be the fastest growing segment with a CAGR of 14.9% during the forecast period
• The Asia Pacific regional market is expected to be the fastest growing region during the forecast period of 2022 to 2030. China is the market leader in the region
• The prominent players in the industry include Mahindra & Mahindra, John Deere, ITC, Trimble, EM3, Apollo, Accenture, Taranis, BigHaat, Precision Hawk, IBM and NinjaKart

List of Key Players in the Farming As A Service Market

• Mahindra and Mahindra
• John Deere
• ITC
• Trimble
• EM3
• Apollo Agriculture
• Accenture
• Taranis
• Precision Hawk
• IBM
• BigHaat
• Ninja Kart

Network Slicing Market Size Worth $12.48 Billion By 2030

 

Network Slicing Market Growth & Trends

The global network slicing market size is anticipated to reach USD 12.48 billion by 2030, registering a CAGR of 50.7% over the forecast period, according to a new report by Grand View Research, Inc. A network slice is a concept of creating several virtual networks on shared multi-domain infrastructure and comprises various state-of-the-art technologies based on open-source community and standardization. It is an independent end-to-end network and includes dedicated or shared resources capable of providing service quality. Each network slice specifies full network functionality comprising core network functions and radio access network functions. An assembly of systems/platforms is required to create and manage a sliced virtual network inclusive of well-designed tools and mechanisms. Network slicing solution provides customized network services to meet the service provider’s requirements utilizing limited network resources.

Moreover, network slicing customization enables efficient network capabilities such as data security, massive connectivity, energy efficiency, reduced latency, reachability, and guaranteed quality of service (QoS). The rising adoption of network slicing-enabled 5G in several verticals such as BFSI, healthcare, retail & e-commerce, among others, are contributing positively to the network slicing market growth. Network slicing enables efficient usage and management of network services resulting in a maximized return on investment (ROI). It also provides access to businesses and organizations to customize networks tailored to meet specific requirements efficiently and cost-effectively governed by a service level agreement.

Network slicing allows sharing of resources and functional components and customization in each slice to a particular service level agreement. Additionally, it enables operators to provide economic models and premium services to end-users offering business opportunities to existing and new sectors to gain higher ROI. The European Telecommunications Standard Institute defined NFV architectural information and framework to support network slicing.

As the pandemic restrictions eased, the communication service providers accelerated investments in network slicing solutions and commenced a 5G network rollout. The use cases of 5G services and network slicings, such as remote education, remote office, and e-health services, are anticipated to propel the network slicing market growth. Moreover, the use cases of 5G, such as remote education, remote office, robotics, and telemedicine, have driven the market demand for 5g services and network slicing solutions during the pandemic.

Utilizing network functions management (NFV), mobile network operators (MNOs), software-defined networking (SDN), analytics, orchestration, and automation enables the creation of network slices that supports specific service, network, application, or sets of users.

Each slice has its management, architecture, and security to support a specific use case. It can span multiple network domains deployed across multiple operators, inclusive of core, transport, and access. The use cases for 5G and network slicing are identified as enhanced mobile broadband (eMBB), massive machine-type communications (mMTC), and ultra-reliable low-latency communication (urLLC). These use cases allow video-centric applications and require MNOs to hold mobile edge computing capacity and generate less traffic.

The report covers the competitive analysis of the top ten players in the market which include Ericsson, Samsung, Nokia Corporation, Huawei Technologies, ZTE Corporation, Cisco Systems Inc., HPE, Mavenir Systems, Inc., Amdocs, Inc., and Intel Corporation. The market players are adopting several key strategies and development such as product launches, partnerships and collaborations, and mergers and acquisitions to obtain a significant market share in the market. For instance, in July 2022, Ericsson announced a collaboration with Telefonica to demonstrate end-to-end, automated network slicing in 5G standalone in Madrid.

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Network Slicing Market Report

Network Slicing Market Report Highlights

• The market is expected to witness a CAGR of 50.7% over the forecast period owing to a rise in the adoption of smartphones and mobiles globally. Also, the growing adoption of IoT solutions and growing emphasis on the usage of cloud services has increased the adoption of network slicing services among end-users during the COVID-19 pandemic
• Based on the component, the solution segment accounted for the largest revenue share of over 60.3% in 2021 as the network slicing platform is extensively used in several verticals such as retail & e-commerce, BFSI, travel and hospitality, and healthcare. The adoption of network slicing solutions by CSPs will accelerate the delivery of network slicing applications and services
• Based on end-user, the communication service providers segment dominated the market in 2021 and is expected to witness a significant CAGR of 49.9% over the forecast period owing to the increasing demand for better bandwidth connectivity to meet the end user’s requirement
• Based on industry vertical, the healthcare industry dominated the market owing to the increasing adoption of innovative 5G technologies and network slicing solutions in the healthcare sector. The healthcare industry is expected to witness a technological transformation with an increasing number of network slicing use cases in the industry, such as robotic surgeries, IoT, and AI
• North America accounted for the largest revenue share of more than 35.5% in 2021, owing to the increasing penetration of smartphones, the growing proliferation of internet services, and the number of internet subscribers in the region. Considerable adoption of IoT and rapid development of smart cities are expected to provide numerous opportunities for the region over the forecast period

List of Key Players in the Network Slicing Market

• Ericsson
• Samsung
• Nokia Corporation
• Huawei Technologies
• ZTE Corporation
• Cisco Systems Inc.
• HPE
• Mavenir Systems Inc.
• Amdocs, Inc.
• Intel Corporation

Multi-Cloud Management Market Worth $56.02 Billion By 2030

 

Multi-Cloud Management Market Growth & Trends

The global multi-cloud management market size is estimated to reach $56.02 billion by 2030, expanding at a CAGR of 27.5% from 2022 to 2030, according to a new study by Grand View Research, Inc. The strong emphasis organizations are putting on automation and efficiency, and subsequently on having effective governance processes in place, is expected to drive the adoption of multi-cloud management solutions over the forecast period.

Growing concerns over the reliability of a single cloud are also anticipated to play a decisive role in driving the adoption of multi-cloud management solutions. However, concerns over data security and privacy protection coupled with the hardships encountered in redesigning the network for cloud-based infrastructure can restrain the growth of the market.

Independent Software Vendors (ISVs) increasingly rely on virtualization and the cloud as they gradually evolve from software developers to software providers. Cloud-based infrastructure guarantees greater scale, service customization, and flexibility. At this juncture, Cloud Service Providers (CSPs) are also trying aggressively to make a foray into the multi-cloud management market by adopting, managing, and supporting several cloud products simultaneously. Foraying into the multi-cloud management market would allow CSPs to offer adequate flexibility to ISVs in selecting cloud services according to their changing needs.

The COVID-19 pandemic played a vital role in driving the demand for multi-cloud management solutions. The outbreak of the pandemic and the subsequent restrictions imposed by various governments as part of the efforts to arrest the spread of coronavirus have triggered the demand for the latest, advanced digital technologies and a well-established, robust network. Having realized that opting for a cloud-based infrastructure would help ensure a winning edge over competitors, organizations are aggressively transitioning their workloads to the cloud, thereby driving the demand for multi-cloud management solutions.

Concerns over vendor lock-in have discouraged organizations from opting for cloud services. Vendor lock-in can disrupt business operations and force organizations to compromise on performance. However, organizations have realized that a vendor lock-in situation can be avoided by opting for multiple cloud platforms rather than relying on a single cloud vendor. As a result, single cloud customers are increasingly adopting multi-cloud management solutions.

Advances in technology and the higher levels of flexibility the latest cloud computing technologies can offer are expected to drive the growth of the market over the forecast period. As such, market players pursue various strategies, such as product differentiation, launching new products, product expansion, mergers & acquisitions, and strategic partnerships and collaborations to increase their market share, cement their position in the market, and expand their business.

For instance, in January 2022, Concierto.cloud extended its platform’s capabilities to provide some fundamental automation techniques for autonomous vehicle technology. The automation techniques that bring transformational efficiencies to cloud operations include pattern recognition & anomaly detection, clustering-based grouping & scoring mechanisms, and decision matrix algorithms. Thus, a significant application of Concierto.cloud is supporting the automotive industry thereby providing numerous opportunities for the company over the forecast period.

This platform is used to navigate automation challenges in the cloud by closely tracking industry developments while tailoring the use-case specific to requirements. Some of the fundamental automation techniques translated to cloud operations include pattern recognition & anomaly detection to track abnormalities of large sets of information, clustering-based grouping, scoring mechanisms to identify common traits, and decision matrix algorithms to assist in rapid decision making and quick turn-around.

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Multi-Cloud Management Market Report

Multi-Cloud Management Market Report Highlights

• The managed services segment is expected to witness significant growth in the forecast period. Managed services allow the users of various cloud platforms, such as AWS, Google Cloud Platform, and Azure, to boost scalability, reduce expenses, and add more agility to their application architecture
• The small & medium enterprise segment is expected to expand at the highest CAGR from 2022 to 2030. While SMEs are aggressively scouting for business-driven tools and solutions, the increasing number of service providers foraying into the market offers SMEs several options to choose from, thereby driving the segment’s growth
• The manufacturing segment is anticipated to witness the fastest growth over the forecast period. Multi-cloud management allows manufacturing entities to distribute their workload across multiple clouds and opt for various deployment models, such as IaaS, PaaS, and SaaS, depending on the application and data
• Asia Pacific is anticipated to emerge as the fastest-growing regional market over the forecast period owing to the continued adoption of cloud-based solutions and the growing preference for the latest technologies, such as IoT and edge computing

List of Key Players in the Multi-Cloud Management Market

• BMC Software, Inc.
• Citrix Systems Inc.
• CloudBolt Software, Inc.
• CoreStack
• Dell Technologies Inc.
• Flexera Software LLC
• International Business Machines Corporation
• Jamcracker Inc.
• Microsoft Corporation
• Concierto.cloud
• UnityOneCloud
• VMware Inc.

Rare Disease Genetic Testing Market Worth $2.52 Billion By 2030

 

Rare Disease Genetic Testing Market Growth & Trends

The global rare disease genetic testing market size is expected to reach USD 2.52 billion by 2030, registering a CAGR of 13.94% over the forecast period, according to a new report by Grand View Research, Inc. Effective regulatory plans to combat rare disease is one of the key drivers of the industry. Furthermore, the presence of a substantial number of registries that provide data and relevant information about related diseases has aided in revenue growth over the past years. Ongoing conferences to raise awareness about rare and ultra-rare conditions are anticipated to boost the adoption of diagnostic kits and services. For instance, Ergomed and PSR Orphan Experts, with their offices in the U.K., Germany, the Netherlands, Poland, and other countries, participate in various activities that are aimed at raising awareness in this area.

Moreover, the Canadian Organization for Rare Disorders (CORD) offers a strong platform to streamline health policy and a healthcare system that is dedicated to the management of patients with disorders. The agency works with clinicians, researchers, governments, and the diagnostic industry to advance R&D, diagnosis, treatment, and service availability for all rare conditions in the country. As per the National Institutes of Health (NIH), around 30 million Americans have been identified with one of 7,000+ known rare diseases. The number of patients undergoing disease testing is expected to increase in the coming years with growing awareness. The U.S. celebrates Rare Disease Day and promotes developments in this area by raising awareness.

In addition, the presence of the Rare Diseases Clinical Research Network (RDCRN), an NIH-funded research network of 23 active consortia or research groups that includes patients, researchers, and clinicians who are focused on the diagnosis & treatment of disorders is anticipated to positively impact the industry. Amidst the COVID-19 pandemic, patients with undiagnosed and rare diseases have been facing significant health challenges. According to a study published in January 2021 by a group of researchers from the U.S., there is an urgent need for the development of approaches that can reduce the serious challenges affecting Rare & Undiagnosed diseases (RUD) patients and families. The challenges include diagnostic and/or prognostic uncertainty coupled with medical complexity leading to poor health outcomes.

In response to the challenges created by the pandemic, patient support groups and professional societies are actively involved in addressing these challenges. For instance, the Rare Chromosome Support Group (Unique), the British Society for Genomic Medicine, and Genetic Alliance U.K. are actively involved in supporting, advocating, and providing information to patients with diseases. Several rare conditions remain unclassified. The charity SWAN U.K. estimated that around 6,000 children are born each year with genetic conditions in the U.K. As per the agency, the conditions are extremely rare and cannot be named. Thus, there is a lack of proper diagnosis and prognosis for evidence-based treatment. At present, around 50% of the children who undergo genetic testing in the U.K. would not receive a confirmed diagnosis.

Around 50% of the children with learning disabilities and approximately 60% of children with congenital conditions do not receive a definitive diagnosis to identify the cause of their disabilities. Furthermore, the lack of awareness among patients and families about diagnosis and genetic testing has further impeded the industry’s growth. North America dominated the industry in 2021 due to the high incidence of rare diseases, a large number of registries, the presence of substantial numbers of R&D facilities in this area, and extensive investments in diagnosis. Asia Pacific is expected to register the fastest CAGR during the forecast years owing to the presence of a substantial number of organizations that are focusing on disease management.

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Rare Disease Genetic Testing Market Report

Rare Disease Genetic Testing Market Report Highlights

• The immunological disorders segment held a significant revue share in 2021. A rise in the cases of multiple sclerosis drives the growth as is one of the key focus areas in this segment
• Based on technology, the NGS segment is expected to register the fastest CAGR from 2022 to 2030
• This is due to the availability & adoption of NGS-based gene panels for cancer, neurologic disease, CVD, pediatric conditions, psychiatric disorders, and another rare disease testing
• The molecular genetic tests specialty segment held the largest revenue share in 2021 due to the high adoption in research & clinical settings. A rise in CLIA-waived molecular genetic tests also offers lucrative growth opportunities
• The research laboratories & CROs end-user segment led the industry in 2021 owing to a large number of genetic tests conducted in research laboratories and CROs

List of Key Players in the Rare Disease Genetic Testing Market

• Quest Diagnostics Inc.
• Centogene N.V.
• Invitae Corp.
• 3billion, Inc.
• Arup Laboratories
• Eurofins Scientific
• Strand Life Sciences
• Ambry Genetics
• Perkin Elmer, Inc.
• Realm IDX, Inc.
• Macrogen, Inc.
• Baylor Genetics
• Color Genomics, Inc.
• Health Network Laboratories
• PreventionGenetics
• Progenity, Inc.
• Coopersurgical, Inc.
• Fulgent Genetics Inc.
• Myriad Genetics, Inc.
• Laboratory Corporation of America Holdings
• Opko Health, Inc.
• Artemis DNA

Clinical Decision Support Systems Market Worth $10.7 Billion By 2030

 

Clinical Decision Support Systems Market Growth & Trends

The global clinical decision support systems market size is anticipated to reach USD 10.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 10.4% from 2022 to 2030. Surging demand for quality care is one of the primary factors augmenting the market. Constant lookout for reliable technology solutions by care providers is also expected to work in favor of the market. The growing interest in enhanced medical care and efficient decision-making is projected to fuel the adoption of clinical decision support systems (CDSS) and EHR.

To manage the COVID-19 pandemic, many initiatives are being undertaken by government and community organizations to support the current healthcare system. These comprise front-line clinics by state governments, volunteer panels of doctors, and many private telemedicine applications. CDSS is playing a vital role during the pandemic, by helping physicians make effective choices at the point of care. As a result, market players are capitalizing on this opportunity to address the problem and provide support to front-line doctors.

For instance, in May 2021, DHIndia announced a collaboration with EHRC@IIITB & Healthelife to develop CDSS for COVID-19 screening. This collaboration also included the formation of a minimal triage application for front-line clinicians.

Decision support in critical health situations proves to be significant. Furthermore, these systems analyze patient medical records and provide a list of possible solutions from which the most appropriate is to be selected. Easy compatibility and interoperability of systems with different platforms have enhanced the growth prospects of the market. Collaborative efforts of researchers and software developers to make medical knowledge available to users are anticipated to contribute to lucrative revenue generation during the forecast period.

CDSS is currently being used in a variety of healthcare operations, including diagnosis, drug prescription, and clinical studies. According to the NCBI in 2020, clinical and diagnostic coding, procedure and test ordering, and patient triage are all supported by CDSS. Developed algorithms can provide a refined list of diagnostic codes to help clinicians choose the most appropriate one. A CDSS was created to overcome the inaccuracy of ICD-9 admission coding in emergency departments (EDs) (ICD is the International Statistical Classification of Diseases, standardized codes used to represent diseases and diagnoses).

CDSS helps ED physicians to identify diagnostic admission codes more quickly. Furthermore, the significance of CDSS has been recognized across several healthcare entities, including public & private healthcare sectors. Also, healthcare organizations are launching programs to promote EHR & CDSS installation and integration, which is projected to have a favorable impact on the market by encouraging hospitals and healthcare groups to use such systems.

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Clinical Decision Support Systems Market Report

Clinical Decision Support Systems Market Report Highlights

• Standalone CDSS accounted for the largest share of market revenue in 2021 owing to its low cost. The segment is estimated to hold approximately 30.0% of the overall market by 2030
• The CDSS integrated with EHR segment is poised to experience noteworthy growth in the coming years due to the rapid adoption of healthcare IT solutions by clinicians
• Drug allergy alerts made the highest contribution to market revenue generation in 2021 owing to the rising burden of allergies
• In terms of revenue, the on-premises segment dominated the overall industry with a share of over 43.0% in 2021, owing to its high adoption rate by healthcare organizations
• CDSS software segment is poised for lucrative growth during the forecast period owing to novel innovations for technical support and interoperability of the CDSS software
• Domicile of a large number of key players and high adoption rate of advanced technologies are anticipated to contribute to the dominance of the North American region in the coming years. However, Asia Pacific is estimated to witness the highest CAGR of 13.5% during the forecast period
• Market players are involved in strategic initiatives such as new product launches, product innovations, acquisitions, and partnerships to gain a competitive edge over each other
• For instance, in October 2021, DreaMed Diabetes AI Ltd. proclaimed that it had received FDA Clearance for its Type 2 Diabetes AI-based CDSS, thereby enhancing its offerings

List of Key Players in the Clinical Decision Support Systems (CDSS) Market

• McKesson Corporation
• Cerner Corporation
• Siemens Healthineers GmbH
• Allscripts Healthcare, LLC
• athenahealth, Inc.
• NextGen Healthcare Inc.
• Koninklijke Philips N.V. (Royal Philips)
• IBM Corporation
• Agfa-Gevaert Group (IG Farben)
• Wolters Kluwer N.V.

Yogurt And Probiotic Drink Market Worth $182.96 Billion By 2030

 

Yogurt And Probiotic Drink Market Growth & Trends

The global yogurt and probiotic drink market size is expected to reach USD 182.96 billion by 2030, registering a CAGR of 9.7% in the forecast period, according to a new report by Grand View Research, Inc. The positioning of yogurt and probiotic drinks as the basis of healthy nutrition and a rise in public awareness about the health benefits of these beverages are driving product demand worldwide. For instance, in March 2021, LYVECAP, a direct-to-consumer wellness brand launched a new probiotic drink. The product is formulated for athletes to improve recovery time, boost performance, strengthen immunity, and enhance cognitive ability.

With major yogurt brands expanding product portfolios to dairy-free/vegan yogurts by the addition of enzyme lactase, which breaks down lactose into sugars, many alternatives of yogurts for lactose-intolerant consumers are likely to accelerate market growth. For instance, in July 2020 Danone S.A. launched its first plant-based, 100% dairy-free yogurt drink range, Actimel, in the U.K. The new dairy-free drinks were made available at Asda Stores Ltd., Tesco, and Sainsbury’s in mango, passionfruit, and blueberry flavors. The probiotic drink segment was the largest in 2021 and is expected to maintain its dominance even during the forecast period.

The promising momentum for the segment has driven key players to acquire companies offering water-based probiotic beverages, such as kombucha. Top beverage manufacturers in the industry are acquiring small brands to expand their product portfolios in the water-based probiotic segment. For instance, in August 2021, a U.S.-based beverage investment firm, First Bev, acquired a controlling stake in Health-Ade, a kombucha beverage brand. The brand offers products, such as Health-Ade Pop, a low sugar prebiotic soda; Health-Ade Plus, and an adaptogenic kombucha line. The online distribution channel is estimated to register the fastest growth rate from 2022 to 2030.

Promising growth exhibited by e-commerce platforms in the U.S. is compelling manufacturers to reorient their retail strategies in the country. For instance, in September 2021, So Delicious, a brand of Danone S.A., launched a direct-to-consumer (D2C) website to improve online discovery and purchase. Such initiatives by key players to add D2C channels will further increase product visibility among consumers. The global industry is consolidated with a major industry share acquired by a few well-established companies, such as Danone and Chobani, LLC. The industry is also dominated by some key developing manufacturers, such as Yakult Honsha Co., Ltd., Grupo Lala, Califia Farms, Lifeway Foods, Inc., Bio-K+, Harmless Harvest, GoodBelly Probiotics, and KeVita.

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Yogurt And Probiotic Drink Market Report

Yogurt And Probiotic Drink Market Report Highlights

• North America dominated the global industry in 2021 and accounted for the largest share of the global revenue
• The high share of the region was mainly credited to the increased consumer awareness regarding lifestyle disorders and the resultant shift towards healthier alternatives
• The yogurt drink segment is projected to register the second-fastest growth rate during the forecast period
• This growth can be attributed to the wide availability of other types of probiotic-rich products
• The online distribution channel segment is estimated to record the fastest CAGR from 2022 to 2030 owing to the availability of a wide range of products on a single e-commerce platform

List of Key Players in Yogurt And Probiotic Drink Market

• Yakult Honsha Co., Ltd.
• Chobani, LLC
• Danone
• Grupo Lala
• Califia Farms
• Lifeway Foods, Inc.
• Bio-K+
• Harmless Harvest
• GoodBelly Probiotics
• KeVita

Diabetic Foot Ulcer Treatment Market Size Worth $7.77 Billion By 2030

 

Diabetic Foot Ulcer Treatment Market Growth & Trends

The global diabetic foot ulcer treatment market size is expected to reach USD 7.77 billion by 2030, registering a CAGR of 5.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. Diabetes is one of the major causes of amputation, blindness, stroke, end-stage renal failure, kidney failure, and heart attacks in this region. According to the International Diabetes Federation, ~66 million people were suffering from diabetes in Europe in 2017. The number is expected to increase to ~81 million by 2045. The mortality rate associated with DFU is ~5% in the first 12 months and increases up to 42% by the end of 5 years.

Many adjuvant therapies such as nonsurgical debridement agents, dressings and topical agents, oxygen therapies, negative pressure wound therapy, acellular bioproducts, human growth factors, energy-based therapies, and systemic therapies are said to effectively improve and cure DFU. Recent studies suggest that the inhibition of detrimental proteinase MMP-9 enzyme allows the body to heal the wound at a quicker rate. Sedentary lifestyle, poor GDP expenditure on healthcare, unhealthy food habits, and poor reimbursement scenarios in the Asian region are the factors responsible for the high growth of diabetes in this region. Hence, numerous ill effects of DFU are observed in the Asian region.

The biologics segment held the largest revenue share in 2021 and is expected to grow at the highest rate during the forecast period. Biologics include growth factors [such as Vascular Endothelial Growth Factor (VEGF) and Platelet-Derived Growth Factor (PDGF)], stem cells, and other anti-diabetic drugs. These agents help reduce hyperglycemia, increase oxygenation and circulation, and repair lost tissues. Therefore, they are increasingly being used for the management of wounds in different stages and are considered to be ideal for DFU treatment. Wound care dressings held the second-largest revenue share in 2021, followed by therapy devices and antibiotic medications.

Market players are constantly developing new and improved products to ensure quicker healing time for DFU. Companies like ConvaTec, Inc.; Acelity L.P. Inc.; 3M Healthcare; Coloplast Corp.; and Smith & Nephew Plc. are among the leaders in this market. Despite the Covid-19 outbreak, these players reported an increase in demand for their wound management products due to the increased complications of diabetic patients suffering from Covid-19 infection. The market was said to increase at a steady rate in 2021 as Covid-19 treated patients witnessed a rise in sugar levels leading to the onset of diabetes. For instance, the overall proportion of diabetic patients with Covid-19 ranged from 5% — 30% in Italy in 2020. Further, Smith and Nephew reported the sales of its newly launched wound healing product, PICO 7, to cross the 1 million mark in 2020. Hence, the market grew dramatically in 2020 and is estimated to stabilize during the forecast period.

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Diabetic Foot Ulcer Treatment Market Report

Diabetic Foot Ulcer Treatment Market Report Highlights

• By treatment, the biologics segment captured the largest revenue share in 2021 owing to its reduced wound healing time and increased platelet formation efficiency
• Based on ulcer type, the neuro-ischemic ulcers segment held the dominant revenue share in 2021
• The hospitals end-use segment accounted for the second-largest revenue share in 2021 due to the increased adoption rate of treatment and highly experienced staff
• North America grabbed the largest revenue share in 2021 due to the presence of market players and improved treatment cost and reimbursement scenario

List of Key Players of the Diabetic Foot Ulcer Treatment Market

• ConvaTec, Inc.
• Acelity L.P., Inc.
• 3M Healthcare
• Coloplast Corp.
• Smith & Nephew Plc
• B Braun Melsungen AG
• Medline Industries, Inc.
• Organogenesis, Inc.
• Molnlycke Health Care AB
• Medtronic

Biopreservation Market Worth $16.61 Billion By 2030 | CAGR: 28.9%

 

Biopreservation Market Growth & Trends

The global biopreservation market size is projected to reach USD 16.61 billion by 2030, registering a CAGR of 28.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. The extensive use of preservation in hospitals and labs, rising funding assistance from government and private partners in healthcare, and an upsurge in research and development are fueling the industry growth.

Currently, there has been an upsurge in demand for the use of biopreservation to develop biological products in R&D of various sectors such as immunotherapies, vaccine production, antibody production, enzyme technology, and biologically produced chemicals. This impact is due to the rising number of chronic disease incidences globally. According to the Centers for Disease Control and Prevention (CDC), the leading cause of disease-related mortality in adults is the rising prevalence of cardiovascular disorders and cancer in the U.S.

Furthermore, government and private sectors have shown interest and supported funding activities in research and development, which has contributed to industry growth. In past years, the growing demand for preserving stem cells and developing biological medicines and products has gained investors’ focus on the field. This considerable healthcare spending is expected to grow in the market in the forecast period.

The key players are implementing strategic initiatives such as mergers and acquisitions, product development, and business expansions to penetrate the market. In March 2022, Biolife Solutions announced its expansion plan in USD 400 million biostorage service market. In January 2022, Biolife Solutions collaborated with Seattle Children’s to improve viral vector and cell and gene therapy manufacturing. In April 2021, LabVantage announced a partnership with Holo4Med to further expand its healthcare presence in Europe.

The market witnessed a significant setback due to the COVID-19 pandemic with supply chain disruption, constraints in resource allocation, and hindrances in research activities, among other reasons. However, the pandemic has also accelerated the growth of novel biologics, vaccine technologies, and the production of biology-based medicines, and has highlighted the applications of synthetic biology. Due to these factors, opportunities for biologics manufacturing and preservation are anticipated to increase, thus generating further demand for bio-preservation.

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Biopreservation Market Report

Biopreservation Market Report Highlights

• By product, the equipment segment held the largest revenue share of over 75.0% in 2021 due to the rising demand for bio-banking to preserve stem cells, DNA, plasma, and tissue culture. Increasing demand for modified genetic material in the global market is also fueling the growth
• The bio-banking application segment held the largest revenue share in 2021. This can be attributed to rising awareness regarding stem cell preservation, increasing acceptance of sperm and egg banking, and utilization of assistant reproductive technology in animals
• By cell providers volume, tumor cells held the largest revenue share in 2021. This can be attributed to increasing diagnosis, research, and treatment activities that involve the development of cancer therapies
• North America dominated the global market in 2021 due to the advancement in biomedical research, the development of advanced therapies, and the upsurge in research activities related to DNA sequencing and bioinformatics
• Asia Pacific is expected to grow considerably in the future owing to rising investments in Asian countries and increasing partnerships and collaborations with key players

List of Key Players of Biopreservation Market

• Azenta US, Inc.
• Biomatrica, Inc.
• BioLife Solutions
• MVE Biological Solutions
• LabVantage Solutions, Inc.
• Taylor-Wharton
• Thermo Fisher Scientific, Inc.
• Panasonic Corporation
• X-Therma Inc.
• PrincetonCryo
• Stirling Ultracold

Dental Flap Surgery Market Size Worth $8.91 Billion By 2030

 

Dental Flap Surgery Market Growth & Trends

The global dental flap surgery market size is expected to reach USD 8.91 billion by 2030, registering a CAGR of 7.2% during the forecast period, according to a new report by Grand View Research, Inc. A rise in the prevalence of periodontal disease, an increase in awareness about oral hygiene, and growing demand for dental flap surgery for periodontal disease treatment are the key factors that boost the growth of the industry. The demand for triangular flap surgery is expected to witness a rise during the forecast period due to the high adoption rate. The COVID-19 pandemic had disrupted the number of dental surgical procedures due to the restrictions imposed by the governments.

In addition, the COVID-19 pandemic has negatively impacted the dental care economy. For instance, in March 2020, the American Dental Association (ADA) published guidance to postpone elective dental treatments. According to Oral Health survey results, the major impact of the COVID-19 pandemic on dental procedures in Canada has been the decrease in revenue in 2020. However, in 2021, there was no significant impact on the industry as dental clinics were re-opened in many countries and the number of dental surgical procedures also increased. The growing aging population and increase in dental tourism in developing countries have boosted the growth of the overall industry.

An increase in the number of patients suffering from periodontal disease is anticipated to drive the industry’s growth over the years to come. Periodontal flap surgery is a simple gum surgery under local anesthesia. It is indicated for conditions, such as mid-root perforation repair, repair of cervical defects, such as root perforations, root caries, and resorption. Patient satisfaction wound healing and good visibility in roots are among the key factors responsible for the growth of the industry. The North American region held the largest revenue share in the year 2021 due to the growing R&D activities in dentistry and preventive approaches toward oral care & hygiene.

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Dental Flap Surgery Market Report

Dental Flap Surgery Market Report Highlights

• Triangular flap emerged as the largest surgery type segment in 2021 due to an increase in the number of triangular flap surgeries performed across the globe
• The rectangular flap type segment is anticipated to register the fastest CAGR over the forecast period
• The growth can be attributed to the fact that this type of surgery reduces retraction tension and provides maximum access & visibility
• Based on end-users, the dental clinics segment accounted for the highest revenue share in 2021
• It is also expected to register the fastest growth rate over the forecast period due to a rise in the number of dental flap surgeries performed in dental clinics

List of Key Players in Dental Flap Surgery Market

• Aspen Dental Management, Inc.
• Apollo White Dental
• Coast Dental
• Dr. Joy Dental Clinic
• Smiles by Dr. Santos, LLC
• Axis Dental
• Great Expressions Dental Centers
• HM Hospital Madrid
• Humanitas Hospital
• Partha Dental Clinics

High Level Disinfection Services Market Worth $42.12 Billion By 2030

 

High Level Disinfection Services Market Growth & Trends

The global high level disinfection services market size is expected to reach USD 42.12 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.30% from 2022 to 2030. The increasing prevalence of hospital-acquired infection and surgical site infections, the increasing number of surgeries coupled with the rise in the incidence of chronic disorders, and the impact of COVID-19 are the key driving factors for the market.

An increase in the prevalence of HAIs due to a lack of sanitation and preventive measures is a major factor expected to propel market growth over the forecast period. Unclean medical devices are a key source of hospital-acquired infections. According to the report published by CDC in 2017, hospital-acquired infections result in more than 99,000 deaths every year. Also, according to antimicrobe.org, HAP accounts for around 27.00% of all nosocomial infections acquired in medical intensive care units (ICU). Since these products are needed for disinfection and cleaning of various hospital equipment, therefore, these instances are expected to surge the demand for high level disinfectant services.

Furthermore, the sudden outbreak of COVID-19 across the globe is one of the major factors propelling the market growth. According to the Worldometer estimates, as of 26th April 2021, there are total 147,884,279 cases globally. If more people become infected with the coronavirus, there will be a significant need for critical care supplies that will boost the demand for high-level disinfectant services. Furthermore, major players operating in the market are developing HLDs that are effective against COVID-19. For instance, LANXESS developed Rely+On Virkon and Solvay’s PROXITANE, which is effective against the coronavirus. Hence, such instances indicate considerable market growth over the forecast period.

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 High Level Disinfection Services Market Report

High Level Disinfection Services Market Report Highlights

• The outsource segment held the largest revenue share in 2020. Several benefits associated with outsourcing such as cost-saving, customized disinfection services and usage of advanced technology is the major factor propelling segment growth
• The glutaraldehyde segment held the largest revenue share in 2020 and is expected to witness the fastest growth over the forecast period due to the increasing number of surgeries
• The hospitals and clinics segment held the largest revenue share in 2020. The segment growth is majorly driven by the increasing number of hospital-acquired infections and the rising number of people suffering from coronavirus
• In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the rising prevalence of chronic disorders

List of Key Players of High Level Disinfection Services Market

• ECOLAB
• GE Healthcare
• Altapure
• OLYMPUS CORPORATION
• Getinge AB
• Fortive Corporation (ASP)
• Lifemed
• Steelco
• Steris PLC
• Microchem Laboratory
• Metrex Research, LLC
• EcoFMR.com
• Jani-King
• Rentokil Initial plc

Optical Coherence Tomography Market Worth $5.28 Billion By 2030

 

Optical Coherence Tomography Market Growth & Trends

The global optical coherence tomography market size is expected to reach USD 5.28 billion by 2030, registering a CAGR of 15.41%, according to a new report by Grand View Research, Inc. Rising demand for early diagnosis of the disease, constant innovation and development of newer technologies, higher demand from the new biomedical applications, such as drug delivery, and rising prevalence of eye disorders are expected to drive the Optical Coherence Tomography (OCT) industry growth. However, the lack of favorable reimbursement policies and clinical information can hamper the growth in the coming years.The technique has numerous uses in fields like dermatology, cancer, and ophthalmology.

It is largely used to diagnose and treat disorders affecting the eyes, including glaucoma, conditions affecting the retina, such as central serous retinopathy, Age-related Macular Degeneration (AMD), and vitreous traction. An additional definition of the market includes new technology for high-resolution cross-sectional imaging. It takes a picture with micrometer-resolution using coherent light. Other illnesses like non-melanoma prostate cancer, skin cancer, esophageal issues, cardiovascular disruptions, and diabetes have been added to the market’s reach. A significant increase in demand for the product is anticipated due to the rising incidence of these diseases.

The COVID-19 pandemic has led to a huge surge in demand for medical supplies and respiratory support devices, such as life-support machines, atomizers, oxygen generators, and monitors. OCT angiography is used for the imaging of retinal vascular changes in fully-recovered COVID-19 patients. The key manufacturers of OCT systems are struggling to maintain their production capacity, along with finding newer methods to strengthen their presence, such as mergers & acquisitions and collaborations with suitable market players. These initiatives by key players can be positive for the industry’s growth in the coming years.

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Optical Coherence Tomography Market Report

Optical Coherence Tomography Market Report Highlights

• The Frequency Domain OCT (FD-OCT) segment accounted for the largest revenue share in 2021 followed by Time Domain OCT (TD-OCT)
• The handheld OCT devices segment held the largest share in 2021 and will expand further at a steady CAGR from 2022 to 2030
• The growth can be attributed to a wide application scope in the detection of diabetic retinopathy, macular degeneration, and glaucoma
• Ophthalmology is the dominant application segment owing to increasing incidences of choroidal & retinal disorders and the high adoption of OCT devices by ophthalmologists for imaging & diagnosing purposes
• North America dominated the global industry in 2021 and held the largest share of the overall revenue

List of Key Players of Optical Coherence Tomography Market

• Agfa Healthcare
• Carl Zeiss Meditec AG
• Heidelberg Engineering GmbH
• Imalux Corp.
• Michelson Diagnostics
• Novacam Technologies, Inc.
• OPTOPOL Technology S.A.
• Topcon Medical Systems
• Thorlabs, Inc.

Corneal Implants Market Size Worth $695.0 Million By 2030

 

Corneal Implants Market Growth & Trends

The global corneal implants market size is anticipated to reach USD 695.0 million by 2030, registering a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. The rising prevalence of corneal diseases, such as keratoconus, Fuchs dystrophy, and infectious keratitis, is the major factor driving the industry’s growth. The gap between demand and supply is also expected to boost industry growth in the long run. Various programs spreading awareness about the importance of corneal donations are also likely to support the industry’s growth. Moreover, many European countries are adopting an “opt-out” policy for organ donation to meet the growing demand for corneal grafts.

An increasing number of R&D activities related to corneal implants is expected to foster industry growth over the forecast period. Bioengineered cornea, 3D printed cornea, and stem cell therapy are a few of the topics gaining attention from the stakeholders. Moreover, a favorable reimbursement scenario and increasing focus of manufacturers to develop new products and the expected launch of new products in the next two years are expected to boost the growth of the market over the forecast period. The COVID-19 pandemic led to a temporary lag in sales of corneal implants due to a fall in the number of procedures that were carried out as a precautionary measure to curb the spread of the virus.

However, with the world now returning to normalcy the market is expected to attain a pre-COVID growth rate over the forecast period. North America dominated the global industry in 2021 and accounted for the largest share of the overall revenue. The region is projected to expand further at a steady CAGR from 2022 to 2030 as the U.S is one of the major suppliers of corneal implants globally. On the other hand, the Asia Pacific region is estimated to register the fastest growth rate during the forecast period on account of the rising demand for corneal implants in countries, such as China, Indonesia, and the Philippines.

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Corneal Implants Market Report

Corneal Implants Market Report Highlights

• Based on type, the human cornea segment accounted for the largest share in 2021 and is estimated to remain dominant throughout the forecast period
• Lack of accessibility, shortage of human corneas, and rising number of graft rejection cases are factors expected to drive the segment growth
• The endothelial keratoplasty segment is expected to register the fastest CAGR from 2022 to 2030 owing to benefits, such as faster and better visual restoration with decreased risk of infection and accidents to the eye surface
• Based on applications, the Fuchs Dystrophy segment held the largest share in 2021 and is expected to register the fastest CAGR as well from 2022 to 2030
• This growth can be attributed to the factors, such as the rising adoption of minimally invasive surgical procedures and the high prevalence of the disease
• Based on end-user, the hospital segment held the largest market share in 2021 and is expected to have a significant growth rate over the forecast period

List of Key Players in the Corneal Implants Market

• Florida Lions Eye Bank
• Alcon, Inc.
• Aurolab
• CorneaGen
• AJL Ophthalmic SA
• DIOPTEX
• Massachusetts Eye and Ear
• San Diego Eye Bank
• KeraMed, Inc.
• Alabama Eye Bank, Inc.
• Presbia Plc

Cannabis Extract Market Size Worth $15.5 Billion By 2030

 

Cannabis Extract Market Growth & Trends

The global cannabis extract market size is expected to reach USD 15.5 billion by 2030. According to a new report by Grand View Research, Inc, it is expected to expand at a CAGR of 20.6% over the forecast period. The growth is attributed to the rising usage of cannabis for recreational and medical purposes has increased. Various nations have legalized cannabis usage which has reduced the sale in the black market and increased legal product purchases.

The industry has also opened revenue-generating opportunities for various countries through government-imposed taxes on cannabis oil and tinctures that are commonly used to treat various ailments, including anxiety, nausea, and cancer. The rising prevalence of cancer is also a significant factor. The growing burden of chronic pain has also increased the demand for treatments related to pain management and thus, positively impacting the growth.

Based on product type, the oil segment held the largest revenue share of 63.0% in 2021 and is also expected to grow at the fastest rate. The product’s rising medical application is one of the supporting aspects. Based on the extract, the full spectrum segment dominated with a revenue share of 69.7% in 2021. The segment has been exploding in the overall market expansion due to the increased usage of marijuana for medical and recreational applications. Legalizing marijuana has resulted in increased product purchases through legal channels, reducing black market sales in several nations.

North America held the largest revenue share of 78.9% in 2021. The legalization of cannabis extract in many sectors, such as pharmaceutical and other industries, has increased demand for the product throughout North America, particularly in the United States.

The economic downturn brought on by the COVID-19 pandemic has affected every industry. The cannabis industry went through a series of testing. As industries seek to position themselves through the coronavirus pandemic or even beyond whenever the pandemic scenario is finally resolved, commercial contracts, financials, and customers’ responses are being scrutinized more than ever. But the pandemic also provided an opportunity for numerous manufacturers to streamline their operational models, eliminate inefficiencies, and rethink their launch or expansion plans.

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Cannabis Extract Market Report

Cannabis Extract Market Report Highlights

• The growing cannabis legalization in several nations, demand for cannabis oil and tinctures, and the use of medical marijuana to treat chronic ailments are the factors expected to drive the growth of the industry
• The oil segment dominated with a revenue share of 63.0% in 2021, owing to the product’s rising medical applications, simplicity of availability, and low price
• The full spectrum segment held the leading revenue share of 69.7% in 2021. The entourage effect-a synergistic link between cannabinoids and terpenes that increases each cannabinoid’s therapeutic properties-is one of the key factors boosting segment share
• Based on source, marijuana held the highest revenue share in 2021 and is also expected to register the fastest CAGR over the forecast period
• North America accounted for the highest revenue share of 78.9% in 2021, owing to increased product uptake and usage due to marijuana legalization in the region

List of Key Players in the Cannabis Extract Market

• Tikun Olam
• CANOPY GROWTH CORPORATION
• Tilray Aurora Cannabis
• The Cronos Group
• Maricann Inc.
• Controlled Environments Limited
• Organigram Holdings Inc.
• VIVO CANNABIS
• STENOCARE
• UNRIVALED
• The Cronos Group
• Aurora Cannabis Inc.
• Aphria Inc.

Wearable Injectors Market Size Worth $23.89 Billion By 2030

 

Wearable Injectors Market Growth & Trends

The global wearable injectors market size is expected to reach USD 23.89 billion by 2030, registering a CAGR of 15.29% during the forecast period, according to new report by Grand View Research, Inc. The market is expected to witness lucrative growth during the forecast period owing to technological advancements in wearable injectors coupled with rising demand for round-the-clock monitoring.

Technological advancements in wearable injectors, for instance, Bluetooth integrated wearable injectors, send alerts to patients, such as injection reminders and data regarding their therapy regime. Also, optional smart functionality provides connectivity to the healthcare network. Some of these devices have buttons that are accessible through clothing, and some devices prevent accidental activation. They also have audible and visual status indicators or signals. Patients can self-administer drugs subcutaneously with minimal time and effort as compared to intravenous or other routes. Patients don’t need to visit any healthcare provider for the administration.

The prevalence of lifestyle-associated diseases, such as diabetes and hypertension is expected to increase during the forecast period. These diseases demand round-the-clock monitoring of various physiological parameters, such as blood pressure and blood sugar levels. The advanced ecosystem of these devices helps healthcare care providers to access data from remote location, which reduces clinical decision time. Thus, integration of healthcare data with wearable injectors, which gets forwarded to physicians or doctors giving them real-time access to data with reduced errors, is expected to boost the wearable injectors market.

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Wearable Injectors Market Report

Wearable Injectors Market Report Highlights

• The on-body segment held a lucrative market share in 2021 owing to the growing preference of the patients for adhesive patches that release the drug conveniently and can be worn on the skin
• The motor-driven segment is expected to register the highest growth during the forecast period owing to increasing demand from hospitals, clinics, retail chain stores, and pharmacies
• The oncology segment is expected to hold the largest market share due to the globally increasing incidences of cancer
• The home care segment is expected to dominate the market with the highest market share owing to increasing inclination towards the home-based treatments onset of Covid-19 pandemic can be seen and it has positively impacted the home care segment growth
• North America is expected to dominate the wearable injectors market during the forecast period due to the rising demand for innovative IT solutions to streamline workflows, coupled with increasing regulatory requirements to ensure patient safety

List of the Key Players in global Wearable Injectors Market

• Becton, Dickinson and Company
• Johnson & Johnson Services, Inc.
• F. Hoffmann-La Roche Ltd.
• Unilife Corporation
• Steady Med Therapeutics, Inc.
• Amgen Inc.
• Insulet Corporation
• Enable Injections
• West Pharmaceutical Services, Inc.
• CeQur SA

Clinical Alarm Management Market Worth $5.55 Billion By 2030

 

Clinical Alarm Management Market Growth & Trends

The global clinical alarm management market size is expected to reach USD 5.55 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a lucrative CAGR of 20.8% from 2022 to 2030. The increasing prevalence of alarm fatigue is one of the primary factors augmenting the market. Furthermore, rising technological advancements coupled with the growing adoption of clinical alarm management solutions by healthcare facilities due to their benefits are also the driving factors for the market growth during the projected period.

To curb the spread of the COVID-19 pandemic, government institutions across various nations established various COVID-19 alert systems for providing policy directives and situational awareness for the general public. Various healthcare facilities also started adopting various alarm management solutions for providing timely treatment to patients. Hence, the COVID-19 pandemic positively impacted market growth in 2020 and 2021.

Alarm fatigue faced by nurses as a result of clinical alarms and false alarms is driving the need for proper alarm management solutions in healthcare facilities. This factor is providing lucrative opportunities to market players for the development of technologically advanced clinical alarm management solutions. Therefore, growing cases of alarm fatigue coupled with growing demand for advanced solutions for patient safety is also likely to boost the market growth.

Major players in the market are investing in many strategic initiatives, such as acquisitions, mergers, partnerships, and product launches, among others to maintain a competitive edge in the market. For instance, in October 2021, Ascom received a multi-million contract for providing its Telligence Nurse Call system, which will be delivered over 2 years. This contract is in partnership with Mega Datatech, a pioneering systems integrator in Macao.

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Clinical Alarm Management Market Report

Clinical Alarm Management Market Report Highlights

• The nurse call systems segment accounted for the largest revenue share of more than 24% in 2021 owing to product developments driven by wireless technology and automation and reduced operating costs.
• The services component segment is expected to witness the fastest growth rate of 21.3% during the projected period owing to initiatives by public and private health institutions, increasing service offerings by key market players, and growing demand to minimize risks to patient safety.
• By end-use, the hospitals and clinics segment held the largest revenue share of over 26% in 2021, and the long-term care facilities segment is expected to witness the fastest growth rate over the projected period.
• By region, North America is likely to hold the largest revenue share of more than 45% in 2021 owing to the increasing need for integrated Healthcare IT systems to make certain the reliability, data integrity, and efficient maintenance of data. Asia Pacific is estimated to witness the fastest CAGR of 24.4% during the forecast period owing to the growing adoption of technologically advanced solutions.
• The market is relatively competitive owing to the presence of major players such as Koninklijke Philips N.V., GE Healthcare, Ascom, and Medtronic among others. The various strategic initiatives implemented by companies such as collaborations, acquisitions, partnerships, and product launches are greatly contributing to the growth of the market.

List of Key Players in Clinical Alarm Management Market

• Koninklijke Philips N.V.
• General Electric Company
• Ascom
• Spok
• Masimo
• Hill-Rom Services, Inc. (Baxter)
• Vocera Communications (Stryker)
• Medtronic
• Drägerwerk AG & Co. KGaA
• West-Com Nurse Call Systems, Inc.