Flow Cytometry Market Worth $7,531.2 Million By 2030

 

Flow Cytometry Market Growth & Trends

The global flow cytometry market size is expected to reach USD 7,531.2 million by 2030, registering a CAGR of 7.17% over the forecast period, according to a new report by Grand View Research, Inc. Technological advancements in the technique are introducing new and improved analytical tools, which include the development of microfluidic flow cytometry for Point-of-Care (PoC) testing. Furthermore, the rising prevalence of cancer, immunodeficiency disorders, and infectious diseases is driving the industry. In addition, increasing R&D investments in biopharmaceutical, life science, and biotechnology research activities have led to high demand for flow cytometry instruments. In recent years, a key focus has been on the development of portable microfluidic flow cytometry devices for PoC testing.

Microfluidics and flow cytometry together make a useful tool to measure multiple characteristics of biological samples. For instance, the easy availability of several microfluidics and miniaturized detectors have enabled the creation of microchip-based cytometers, such as optofluidic cytometer, imaging cytometer, and impedance cytometer. The development of microfluidic flow cytometry devices, which are cost-effective, portable, and compact, is beneficial. They are affordable in developing economies, such as Asia & Africa, and are enabling rapid growth in PoC testing applications. Furthermore, improvements in fluorescent dyes and the increasing utility of benchtop cytometers for academic research settings are expected to drive the industry.

Developments in multicolor flow cytometry are accelerating the adoption of the technique in novel drug development activities. For instance, in January 2020, DxFLEX, CE-IVD, a 13-colour clinical flow cytometry system was launched by Beckman Coulter Life Sciences in Europe. Similarly, easy cellular analysis by simultaneous evaluation of several parameters allows extensive use of such devices for contract research purposes. The COVID-19 pandemic also spurred innovations in the technique, as evidenced by the launch of new products in this domain. For instance, in July 2021, Metropolis Healthcare Ltd. launched CoviRisk–TBNK, a simple blood test to detect the risk status of a COVID-19 hospitalized patient.

It helps analyze patients’ need for ICU facilities or ventilation and aids in the reduction of stress on healthcare resources. The test is a flow cytometry-based lymphocyte subset assay and is IVD-approved. Such innovations are anticipated to fuel industry growth in the near future. Moreover, flow cytometry is a significant tool in listing and characterizing immune cells, and is also helpful in recognizing and validating underlying genetic defects. The technique is also used to observe and monitor the immune response of patients after stem cell transplantation, and hence, organ transplantation plays an important role in boosting industry growth. According to the WHO, around 50,000 stem cell transplantations are performed globally every year, and this number is expected to grow in the near future, broadening the scope of applications for the technique.

On the other hand, instruments are highly expensive, and hence, buyers in several developing countries may not be able to afford technologically advanced flow cytometry equipment. These instruments may cost over USD 100,000 and pose significant budgetary constraints for small- & mid-sized hospitals and clinical laboratories. However, some manufacturers, such as Sony, are trying to launch newer instruments using software to automate a number of processes. Such developments would not only improve the usability of the technique but also help bring down the average instrumentation cost–under USD 100,000–in the near future.

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Flow Cytometry Market Report

Report Attribute Details
Market size value in 2023 — USD 4,637.5 million
Revenue forecast in 2030 — USD 7,531.2 million
Growth rate — CAGR of 7.17% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2019–2021
Forecast period — 2023–2030

Flow Cytometry Market Report Highlights

• The instrument product segment held the largest share in 2022 due to technical advancements, as well as increased prevalence of chronic conditions
• Thecell-based flow cytometry technology dominated the industry in 2022 due to the high demand for early diagnosis and rising awareness about the associated benefits of cell-based assays
• By application, the clinical segment accounted for the largest revenue share in 2022 owing to increased activities pertaining to infectious diseases, such as influenza, HIV, and COVID-19, among others
• The academic institutes end-user segment led the market in 2022 owing to increased R&D activities by academic institutes & research centers
• North America was the leading region in 2022 due to the high implementation of scientifically advanced flow cytometry solutions, high healthcare expenditure, and well-established healthcare infrastructure in the region
• Asia Pacific is expected to register the fastest CAGR from 2022 to 2030 owing to the extensive growth in the pharmaceutical and biotechnology industries in emerging economies, such as China and India

Antifungal Drugs Market Size Worth $20.52 Billion By 2030

 

Antifungal Drugs Market Growth & Trends

The global antifungal drugs market size is expected to reach USD 20.52 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.74% from 2023 to 2030. The increasing incidence of fungal infections worldwide is the key factor stoking the growth of the market. In addition, the rise in the adoption of immunosuppressive and antineoplastic agents, prosthetic devices and grafts, and broad-spectrum antibiotics has resulted in an increased incidence of fungal infections in recent years.

According to statistics published by the Centers for Disease Control and Prevention in 2017, it has been estimated that every year, nearly 220,000 new individuals are affected by cryptococcal meningitis, which is a brain infection and has resulted in 181,000 deaths per year around the world. Most of the deaths were reported in sub-Saharan Africa, due to the high prevalence of HIV/AIDS. This indicates the potential demand for antifungal drugs due to the high prevalence of mycological infections around the globe.

The government authorities in many countries had ordered nationwide lockdowns in order to contain the spread of COVID-19. Similarly, health systems in a number of countries around the world were having trouble maintaining their supply chains. The slowness of the supply chain has also impacted the demand for antifungal medications. As aged people are more prone to infectious diseases and chronic conditions, including HIV and cancer, the rise in the geriatric population worldwide is likely to stir up the demand for antifungals to treat opportunistic fungal infections. The demand for fungistatic agents is estimated to remain strong through 2030 due to mounting cases of fungal infections that are difficult to diagnose, yielding high mortality and morbidity rates.

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Antifungal Drugs Market Report

Report Attribute Details
Market size value in 2023 — USD 15.81 billion
Revenue forecast in 2030 — USD 20.52 billion
Growth rate — CAGR of 3.74% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2018–2021
Forecast period — 2023–2030

Antifungal Drugs Market Report Highlights

• Several types of fungicidal preparations, such as creams, sprays, tablets, and injections, are available. Increasing adoption of these products is anticipated to drive the market during the forecast period
• The echinocandins segment is anticipated to exhibit lucrative growth owing to their cell wall-specific fungicidal property coupled with their broad-spectrum activity against Aspergillus and Candida species without cross-resistance risks
• The candidiasis indication segment is expected to witness the fastest CAGR over the forecast period due to increasing drug resistance of the Candida species to Azoles
• North America held the largest market share in 2022 owing to higher awareness levels pertaining to the treatment of fungal infection and the presence of a large target population
• In Asia pacific, the market is projected to register the fastest growth during the forecast period due to improving healthcare facilities coupled with rising government initiatives to create awareness of infectious diseases among the population
• Companies are focusing on the development of effective therapeutic agents for the treatment of systemic fungal infections in immune-compromised patients
• Numerous ongoing public-private partnership agreements in the pharmaceutical industry for the development of novel therapeutics are poised to provide the market with lucrative growth opportunities. For instance, Astellas Pharma partnered with Vical Incorporated for the development of VL-2397, an antifungal drug for the treatment of pulmonary aspergillus

Gynecological Devices Market Size Worth $18.1 Billion By 2030

 

Gynecological Devices Market Growth & Trends

The global gynecological devices market size is expected to reach USD 18.1 billion by 2030, according to a new report by Grand View Research. It is expected to register a CAGR of 8.64% from 2023 to 2030. The rising women population, growing awareness regarding early diagnosis, and available treatments for gynecological disorders are anticipated to boost the growth of the industry. The rising adoption of gynecological procedures is estimated to boost product demand over the forecast period. According to the National Center for Health Statistics, in the U.S., cesarean deliveries accounted for 31.8% of the total deliveries in 2020 when compared with vaginal deliveries. A rise in the number of these procedures, increasing awareness, and growing disposable income are expected to drive the industry.

Early disease detection is imperative in devising treatment schedules. Pertinent government and regulatory agencies in collaboration with the above factors are now focusing majorly on improving patient awareness regarding reproductive and women’s health. This is expected to boost the growth of the industry during the forecast period. Furthermore, the COVID-19 pandemic has adversely affected the industry owing to the cancelation and postponement of elective surgeries, and a reduction of visits of the patients for gynecological surgeries. The demand for gynecological devices increased in the second half of 2020 with the ease of restrictions. The adoption of telehealth and technological advancements is expected to increase product demand during the forecast period.

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Gynecological Devices Market Report

Report Attribute Details
Market size value in 2023 — USD 10.1 billion
Revenue forecast in 2030 — USD 18.1 billion
Growth rate — CAGR of 8.64% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2017–2021
Forecast period — 2023–2030

Gynecological Devices Market Report Highlights

• The surgical devices product segment held the largest revenue share in 2022 due to the recurring purchase of disposable products and the high cost of surgical devices
• In 2022, the endoscopy devices segment held the largest revenue share. This is due to the availability of advanced products, such as 3D endoscopes, and the adoption of Artificial Intelligence (AI)
• The hospitals & clinics end-user segment dominated the global industry in 2022 owing to the easy access and high volume of gynecological surgeries performed in hospitals & clinics
• North America held the largest revenue share in 2022 due to advanced healthcare infrastructure, availability of skilled professionals, and introduction of innovative technologies
• Asia Pacific is expected to witness significant growth during the forecast period. A surge in procedure volumes, due to the rising awareness regarding gynecological health, post-menopausal conditions, and issues concerning pregnancy, is expected to drive the region’s growth

Proteomics Market Worth $70.56 Billion By 2030 | CAGR 13.5%

 

Proteomics Market Growth & Trends

The global proteomics market size is expected to reach USD 70.56 billion by 2030, registering a CAGR of 13.5% over the forecast period, according to a new report by Grand View Research, Inc. The major factors driving theindustry growth are a rise in the demand for personalized medicine, an expansion of the pipeline of diagnostics utilizing proteomics mass spectrometry as well as biochip platforms, and discoveries based on genomics. Moreover, owing to the importance of proteomics in drug development, numerous pharmaceutical companies have established their own proteomic divisions, which are fueling the expansion of the global industry. For instance, in September 2021, Biognosys, announced the collaboration with Evotec, to promote the use of next-generation proteomics in clinical research and drug discovery.

The COVID-19 outbreak is expected to have a significant impact on the industry, as researchers across the world are concentrating on decoding 3D structures of SARS-CoV-2 proteins. To create effective medications and biological products against COVID-19, scientists are also attempting to examine the identification techniques, structures, characterization, and interactions of these proteins. The protein structure of virus proteins and their specific locations must be understood to find a novel, efficient target treatment medication for a virus. Therefore, it will increase the demand for drug development for COVID-19 and propel industry growth. The growing need for customized medications increased R&D spending, and technological developments related to proteomics components are also driving the market.

In addition, attractive market expansion potential for proteomics is anticipated to come from improvements in mass spectrometry-based proteomics and lucrative opportunities related to biomarker identification. Thereby, propelling the market growth.The introduction of new and improved proteomics techniques by major industry participants is projected to further accelerate the growth of the industry. For instance, to provide quick data acquisition for shotgun proteomics, Bruker Corp. introduced the timsTOF Pro system for Parallel Accumulation And Serial Fragmentation (PASEF) mass spectrometry in September 2017. This system uses proprietary Trapped Ion Mobility Spectrometry (TIMS) technology.Furthermore, proteomic research advancements have accelerated the detection of protein biomarkers, protein biochips & pharmacoproteomics, and proteomics-based molecular diagnostics, which have all made significant contributions to the development of personalized medicine.

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 Proteomics Market Report

Report Attribute Details
Market size value in 2022 — USD 25.67 billion
Revenue forecast in 2030 — USD 70.56 billion
Growth rate — CAGR of 13.5% from 2022 to 2030
Base year for estimation — 2021
Historical data — 2018–2020
Forecast period — 2022–2030

Proteomics Market Report Highlights

• The reagent & consumables product segment held the largest share in 2021 due to rising research activities and the growing demand for protein separation from complicated mixtures for efficient analysis
• The clinical diagnostics application segment held a larger share in 2021 due to the development of sophisticated & specialized tests for early disease detection and disease management
• The spectroscopy technology segment held the maximum share in 2021 owing to the increasing usage in toxicological response profiling, basic molecular biology, biomarker identification, and pharmaceutical target screening
• North America led the global industry in 2021 due to a rise in demand for personalized drugs, the existence of major players operating in the U.S. and a highly developed healthcare research framework, and substantial expenditure on R&D
• Asia Pacific is expected to grow at the highest CAGRoverthe projected period due to factors, such as the rising prevalence of target diseases, increasing aging population, and rising proteomics adoption

Dental Laboratories Market Size Worth $48.2 Billion By 2030

 

Dental Laboratories Market Growth & Trends

The global dental laboratories market size is expected to reach USD 48.2 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% from 2022 to 2030. This can be attributed to increasing cosmetic dental procedures, the geriatric population, and awareness regarding oral hygiene. In addition, technological advancements are expected to fuel growth. For instance, the digitalization of dental labs and the introduction of Computer Aided Manufacturing (CAM) and Computer Aided Design (CAD) technology have improved the accuracy of dental appliances.

According to World Population Aging, there were nearly 727 million people aged 65 or over in 2020, globally, and the number of aged people is anticipated to double to 1.5 billion by 2050. The high incidence rate of the elderly population is anticipated to fuel the market growth as the geriatric population is highly susceptible to dental conditions such as xerostomia coronal & root caries and periodontitis. Furthermore, the adverse dental effects due to the frequent use of prescription or OTC drugs by the elderly population are anticipated to boost the market growth.

The market is highly fragmented and is anticipated to witness significant mergers & acquisitions from both large dental service organizations and private equity firms. These mergers and acquisitions are anticipated to lead to market consolidation and enable to leverage advantages of white space acquisition. For instance, in 2022, Henry Schein, Inc. acquired Midway Dental Supply. The Midway company is a dental distributor serving dental laboratories and dental offices across the U.S. This acquisition is anticipated to contribute to the company’s growth through the addition of a new product portfolio.

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Dental Laboratories Market Report

Report Attribute Details
Market size value in 2022 — USD 31.6 billion
Revenue forecast in 2030 — USD 48.2 billion
Growth rate — CAGR of 5.4% from 2022 to 2030
Base year for estimation — 2021
Historic data — 2018–2020
Forecast period — 2022–2030

Dental Laboratories Market Report Highlights

• The oral care segment dominated the market in 2021. This can be attributed to increasing awareness regarding the importance of good oral habits and health
• The dental lasers segment is anticipated to witness lucrative growth over the forecast period. Minimized bleeding and damage to surrounding tissues are anticipated to increase the adoption of laser systems in dental procedures
• North America dominated the market in 2021. This can be attributed to the presence of advanced medical infrastructure, supportive government initiatives, and comparatively higher healthcare expenditure in the region

Cell Counting Market Worth $15.46 Billion By 2030 | CAGR: 8.21%

 

Cell Counting Market Growth & Trends

The global cell counting market size is expected to reach USD 15.46 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.21% from 2022 to 2030. Rising prevalence of chronic diseases such as cancer, HIV, and Alzheimer’s is the high impact rendering growth driver of the industry. Increasing prevalence of these diseases has surged clinical research activities, consequently propelling the demand for cell counting instruments and consumables. Government initiatives working to promote the development of cell therapeutics, wherein cell counting plays an imperative role, are also expanding growth prospects for the market.

An increase in the number of collaborations of research institutes with various public and private entities to promote R&D has provided a significant boost to growth. Growing number of proposed guidelines and recommendations for public and private laboratories to ensure high-quality standards and facilitate the generation of accurate results are likely to improve the adoption of instruments over the coming years. For instance, in May 2021, the International Society for Stem Cell Research updated guidelines for the development of cell-based therapy and research. The proposed guidelines focus on all stages of R&D and improve the quality of preclinical studies.

Technological advancements in these devices are also broadening growth prospects of the market. One of the promising technological advancements in differential cell counting is the ability to recognize blasts, immunoplatelet counting, detection of blasts, and reticulocyte fractions and stem cell counting with greater accuracy. The advent of CD4+ T-cell counting technology has proven to be very useful as an indicator of immune responses and has been adopted to evaluate the success or failure of Anti-retroviral Therapy (ARV). Dedicated cytometers are present in the market to perform CD4+ and CD8+ T-cell enumeration, such as the FACSCount by Becton Dickinson is based on T-cell counting technology.

The COVID-19 pandemic is anticipated to positively impact industry growth. WBC count of the COVID-19 patient during admission is significantly correlated with the death of patients. A higher level of white blood count should be given further care in the COVID-19 treatment. The growing importance of cell count in patients suffering from COVID-19 has augmented the growth of the industry during the pandemic.

The development of enhanced informatics solutions and improved image analysis instruments such as optical or fluorescence microscopes have fueled the growth prospects of this market. These instruments are being increasingly adopted in low sample throughput laboratories and settings with limited resources, which is highly prevalent in developing economies, thereby broadening the scope for growth of the industry.

On the other hand, limited availability of skilled professionals is the critical growth-restraining factor of the market. The lack of skilled professionals can be attributed to a lack of training facilities and high training costs. In order to improve this scenario, industry players are required to participate in the generation of training programs for software developed by these companies and encourage healthcare professionals and researchers to operate cell counting software. Moreover, the lack of standardization of these software tools also plays a key role in restricting researchers and healthcare professionals as every software differ in user interface.

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Cell Counting Market Report

Cell Counting Market Report Highlights

• By product, consumables and accessories accounted for the largest revenue share in 2021. The high growth is attributed to their high usage volume
• In the consumables and accessories segment, reagents held the largest revenue share in 2021. The large revenue share is attributed to the repeat purchase of these products for use during spectrophotometry, flow cytometry, and automated cell counting
• The microplates sub-segment is poised to expand at the fastest CAGR during the forecast period. Microplates are usually used for analyzing very low concentration samples. The increased consumption of these plates is attributed to the repeated need to use fresh plates for analyzing a new sample to prevent contamination
• In the instruments segment, automated cell counters are anticipated to grow at an exponential rate during the forecast period. Benefits such as short testing time, reduced error occurrence, and inter-operator variability are expected to further increase the demand for automated counters
• By application, the complete blood count segment held the largest revenue share in 2021. The large revenue share can be attributed to increasing incidence of blood disorders
• In the end-use segment, research and academic institutes accounted for the largest revenue share in 2021 owing to growing number of government initiatives focused on promoting R&D in various toxicology studies
• Pharmaceutical and biotechnology companies are expected to witness exponential growth opportunities owing to the growing adoption of instruments for optimum drug concentration in therapeutics
• North America held the largest revenue share in 2021 owing to an increase in the number of supportive initiatives to fund R&D, which is anticipated to result in higher adoption of automated instruments
• Asia Pacific is anticipated to expand at a lucrative CAGR during the forecast period owing to the large presence of clinical research organizations and biopharmaceutical companies in this region

Brain Computer Interface Market Worth $6.2 Billion By 2030

 

Brain Computer Interface Market Growth & Trends

The global brain computer interface market size is expected to reach USD 6.2 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 17.16% over the forecast years. Brain Computer Interface (BCI) is a revolutionary technology that facilitates direct contact between peripheral electronic devices calibrating the movement and a functional brain in physically challenged people. This system records the brain signal from the sensors that are placed over the scalp or devices implanted in the brain. Compumedics, in its annual report 2021, stated that it is demonstrating strong signs of growth in the future and is returning to its normal business after the COVID-19 pandemic.

It also stated that with the post-COVID-19 trends, such as high demand for eHealth and home-based healthcare services, the company is set to share many positive announcements in 2022. Hence, the market players are now moving toward positive growth post the pandemic. The market growth is anticipated to be driven by continuous developments in medical sensors and computational biology. In addition, increasing R&D pertinent to the development of treatment options for chronic conditions, such as cerebrovascular diseases, sleep disorders, brain disorders, and fatal injuries, is further contributing to the market growth.

Furthermore, growing R&D investments and the presence of government projects, such as DECODER (European project that used BCI to detect consciousness in non-responsive patients), coupled with the rising focus of major market players on emerging economies, such as Japan and China, are expected to propel market growth over the forecast period. The ongoing technological advancements in the field of virtual reality and increasing applications of BCI in the communication, gaming, and entertainment industry are some of the key contributors to the market growth. The technology encompasses a wide array of applications designed to revolutionize the communication, automation, security, and entertainment experience.

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Brain Computer Interface Market Report

Brain Computer Interface Market Report Highlights

• In terms of revenue, the non-invasive segment held the largest share in 2021. Technological advancement and increased usage in gaming and entertainment are acting as the key growth contributors for this segment
• On basis of application, healthcare was the largest revenue-generating segment in 2021. Wide application of BCI technology in the treatment of sleeping disorders, Alzheimer’s, and Parkinson’s is a vital factor contributing to the segment growth
• The military segment is expected to register the fastest CAGR over the forecast period owing to increased application of BCI in war zones
• Asia Pacific is expected to exhibit the fastest CAGR over the forecast period. An increase in disposable income and low-cost manufacturing sites will fuel the regional market growth in the coming years
• The BCI is an emerging technology that is currently at a nascent stage; however, the increasing interest among researchers in collaboration with the government is expected to fuel market growth

Artificial Pancreas Device Systems Market Worth $980.95 Million By 2030

 

Artificial Pancreas Device Systems Market Growth & Trends

The global artificial pancreas device systems market size is anticipated to reach USD 980.95 million by 2030, expanding at a CAGR of 18.94% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing geriatric population, growing incidence of diabetes, and the rising prevalence of obesity are the major factors driving the market growth. In addition, industry players are developing new advanced technologies to provide better compliance and integration with IT devices, which is contributing to the market growth.

The outbreak of COVID-19 in the year 2020 has positively impacted the artificial pancreas device systems market, growth owing to the need for diabetes management in COVID-19 patients. Moreover, COVID-19 recovered diabetes patients have developed resistance to insulin, and the traditional injections fail to provide proper management. Artificial pancreas device systems (APDS) can replace the need for frequent sugar level checks and control blood glucose levels. These factors are anticipated to create huge growth opportunities for market players during the forecast period.

Moreover, regulatory bodies such as FDA are continuously approving new and innovative products, thus increasing the reach of the companies in various markets. For instance, in June 2017, Medtronic launched its latest artificial pancreas system in the U.S. market. This device is capable of automatically delivering insulin to patients when they need it. Similarly, in May 2019, Beta Bionics, Inc. & Zealand Pharma initiated an in-home trial of the iLet Bionic Pancreas system, a dual-hormone pump system intended to automatically deliver dasiglucagon and insulin.

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Artificial Pancreas Device Systems Market Report

Artificial Pancreas Device Systems Market Highlights

• Based on device type, the threshold suspended device system accounted for the largest market share of 74.72% in 2021; this device is used majorly for hypoglycemic conditions and automatically takes action when the patient is unable to respond
• On the contrary, the CTT segment is presumed to witness exponential growth throughout the forecast period, as it is a fully automated system that minimizes patient intervention
• North America artificial pancreas device systems market dominated with around 46.08% market share in 2021, owing to the high patient awareness levels coupled with high prevalence of obesity, as well as presence of major players in the region
• Asia Pacific is expected to grow at a rapid pace over the forecast owing, to the presence of untapped opportunities, increasing healthcare funding, and government initiatives to spread awareness about diabetes

Anesthesia And Respiratory Devices Market Worth $75.9 Billion By 2030

 

Anesthesia And Respiratory Devices Market Growth & Trends

The global anesthesia and respiratory devices market size is expected to reach USD 75.9 billion by 2030, registering a CAGR of 6.0% during the forecast years, according to a new report by Grand View Research, Inc. Increasing prevalence of respiratory diseases, patient preferences for a reduced hospital stay and supportive government funding are among the key driving factors. Furthermore, aging is considered one of the greatest risk factors for the development of sleep apnea disorders and is, therefore, expected to be a high-impact rendering driver for this industry. The COVID-19 pandemic had a significant impact on the industry. Different segments were impacted differently. For instance, the ventilators segment witnessed exponential growth owing to the sudden surge in the demand for mechanical ventilators.

However, this demand decreased post-2021, wherein the industry size decreased dramatically. Concerning the nebulizers segment, people were apprehensive to use nebulizers owing to the use of inhaled medications, which are considered a potential source of viral transmission and immunosuppression, which restricted the growth, but did not negatively impact the industry. Shifting the preference of patients towards reduced hospital stay is anticipated to increase the adoption of anesthesia and breathing instruments, thereby, driving the market. As per the American Hospital Association, approximately 20% of Medicare beneficiaries, when discharged from the hospital return within 30 days. Identifying and reducing avoidable readmissions is expected to improve healthcare safety and reduce spending.

Hence, policymakers are striving to reduce the hospital stays of patients. In the Patient Protection and Affordable Act, Congress initiated the Hospital Readmission Reduction Program (HRRP), under which, Medicare is allowed to penalize hospitals for higher rates of readmissions since 2013. Due to the implementation of this act, many physicians and patients opt for anesthesia and breathing devices, such as ambulatory infusion pumps and home respiratory monitors. Key players are taking initiatives to develop advanced instruments to bring improvement in the treatment. For instance, in May 2022, Max Ventilator launched Non-Invasive (NIV) ventilators consisting of inbuilt humidifiers and oxygen therapy. The device is user-friendly as well as lightweight and is also priced lower than the traditional ventilators. Such initiatives are anticipated to propel industry growth in the coming years.

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Anesthesia And Respiratory Devices Market Report

Anesthesia And Respiratory Devices Market Report Highlights

• In terms of revenue, the respiratory devices segment held the largest revenue share in 2022 owing to the rising prevalence of Chronic Obstructive Pulmonary Disease (COPD), asthma, and tuberculosis, among others
• Within the respiratory devices segment, the respiratory equipment segment held the largest share in 2022 due to various technological advancements in segments, such as humidifiers, nebulizers, and ventilators
• North America accounted for the largest revenue share in 2022 owing to the presence of major players in the region
• Within Europe, Germany is anticipated to grow at the fastest CAGR owing to the rising prevalence of various respiratory diseases
• Asia Pacific is expected to witness the fastest CAGR during the forecast period owing to increasing healthcare expenditure and awareness among patients

Tumor Ablation Market Size To Reach $4.07 Billion By 2030

 

Tumor Ablation Market Growth & Trends

The global tumor ablation market size is expected to reach USD 4.07 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 13.6% from 2023 to 2030. The increasing incidence of cancer and the high demand for effective treatment options are the major factors driving the market. According to Cancer Research UK, the incidence rate of cancer is expected to grow by 62% from 2018 to 2040. Lung, breast, bowel, and prostate are the most common sites reported with cancer in 2018.

Increasing inclination towards minimally invasive procedures owing to the benefits such as speedy recovery, patient comfort, and shorter turnaround time are the factors expected to foster the demand for advanced tumor ablation techniques during the forecast period. The integration of tumor ablation devices with efficient interventional imaging modalities such as ultrasound, MRI, and CT is anticipated to revolutionize ablation procedures performed in outpatient settings. This is expected to significantly eliminate the cost to the patient including hospital stays.

Supportive government initiatives such as screening programs, awareness campaigns, and cancer schemes for various cancer types are expected to increase the number of diagnosed cases. For instance, in 2019, the National Health Scheme (NHS) started offering lung cancer screening programs in some areas of England. Such initiatives are anticipated to escalate the need for cancer management in early cancer stages, thereby facilitating the demand for tumor ablation therapy.

The rising demand for advanced medical technologies, coupled with improving financing capabilities of healthcare facilities, is expected to increase the demand for tumor ablation devices during the forecast period. For instance, Maimonides Medical Centre, New York announced the purchase of advanced High Intensity Focused Ultrasound (HIFU) ablation device (Focal One by EDAP TMS SA) in 2019 and it has become the second hospital in the U.S. to be equipped with HIFU technology.

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Tumor Ablation Market Report

Tumor Ablation Market Report Highlights

• The radiofrequency ablation technology segment dominated the market with more than 35.0% share in 2022 owing to its prominent application in solid tumor removal
• By treatment, percutaneous ablation is expected to witness lucrative growth over the forecast period due to the rising demand for minimally invasive procedures offering faster recovery and higher safety
• Tumor ablation in lung cancer treatment is anticipated to witness the fastest growth over the forecast period
• A sedentary lifestyle, increasing incidences of smoking, and rising air pollution are contributing to the growing prevalence of lung cancer
• North America dominated the market in 2022 owing to the factors such as the increasing prevalence of cancer, high purchasing power parity, government support for quality healthcare, and the availability of reimbursement

"From Vision to Reality: Clinical Decision Support Systems Market Envisions an Astounding $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 10.6% from 2023 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

Report Attribute Details
Market size value in 2023 — USD 5.3 billion
Revenue forecast in 2030 — USD 10.7 billion
Growth rate — CAGR of 10.6% from 2023 to 2030
Base year for estimation — 2022
Actual estimates/Historical data — 2017–2021
Forecast period — 2023–2030

Clinical Decision Support Systems Market Report Highlights

• Standalone CDSS accounted for the largest share of market revenue in 2022 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 2022 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 2022, 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

Question: What's the magnitude of the clinical decision support systems market? Answer: The clinical decision support systems market was quantified at approximately USD 4.9 billion in 2022 and is predicted to ascend to around USD 5.3 billion in 2023. Question: How is the clinical decision support systems market set to evolve? Answer: The global clinical decision support systems market is on track for evolution with a compound annual growth rate of 10.6% from 2023 to 2030. This trajectory aims to position the market's value at USD 10.7 billion by 2030.

"From Vision to Reality: Long-term Care Market Envisions a Staggering $1.74 Trillion By 2030!"

 

Long-term Care Market Growth & Trends

The global long-term care market size is expected to reach USD 1.74 trillion by 2030, based on a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.62% during the forecast period. The growth of the market can be attributed to the rising prevalence of target diseases, especially Alzheimer’s and Dementia, and high unmet demand in low and middle-income countries (LMIC). Long-term care (LTC) provides specialized care for the elderly.The increasing awareness about LTC centers and their advantages over hospitals is expected to propel market growth. Almost all types of LTC services provide therapeutic services. Moreover, growing government initiatives to increase the adoption of and awareness about LTC are expected to drive the growth of the market over the forecast period.

For instance, in the U.S., government initiatives, such as Federal Long Term Care Insurance Program (FLTCIP), help seniors avail of LTC services and pay for these services. Moreover, the LTC insurance pilot project was started in 15 cities and regions in China with the support of the Ministry of Human Resources and Social Security. In 2020, additional 14 cities and regions were added to the project.The market is expected to benefit from the growing adoption of various new technologies and strategic initiatives. Telehealth technologies can enable LTC providers to avoid emergency admissions of their residents and provide medical aid by analysis of real-time patient data by doctors. Advancements in data science and artificialintelligence (AI) are also contributing to improving the quality of care in Long-term care (LTC) centers.

For instance, predictive AI can assist in recommending the best care solution based on previous data available with the service provider. Hence, developing sophisticated devices in LTC is expected to propel market growth during the forecast period.The COVID-19 pandemic has negatively impacted the market as elderly people were more vulnerable to the adverse effects of the virus, and their services reported several challenges globally. According to the article published in PubMed Central in June 2020, European Economic Area (EEA)/European Union (EU) countries reported around 37% to 66% of deaths related to COVID-19 in all total deaths in May 2020. With the increasing adoption of telehealth services and the adoption of advanced technologies, the market is expected to reach pre-pandemic levels.

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Long-Term Care Market Report

Report Attribute Details
Market size value in 2023 — USD 1.11 trillion
Revenue forecast in 2030 — USD 1.74 trillion
Growth rate — CAGR of 6.62% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2018–2021
Forecast period — 2023–2030
Report updated — August 2023

Long-term Care Market Report Highlights

• Based on the services, the nursing care segment held the largest market share in 2022, which can be attributed to the preference for care by the elderly and high demand from developing countries
• The hospice segment is anticipated to witness lucrative growth over the forecast period due to the increasing prevalence of chronic diseases and the rising need for 24-hourmedical attention
• The public payer segment dominated the market in 2022 owing to the growing public spending for LTC, majorly in the LMIC’s
• North America held the largest revenue share in 2022 on account of supportive government initiatives and a high preference for LTC
• The global market is fragmented owing to the presence of several profit & nonprofit players. These players undertakestrategic initiatives, such as service portfolio expansion, partnership agreements, and mergers & acquisitions to increase their industry shares

Question: What's the scale of the long-term care market?

Answer: The global long-term care market was measured at approximately USD 1.05 trillion in 2022 and is anticipated to reach around USD 1.11 trillion in 2023.

Question: How is the long-term care market poised to progress?

Answer: The global long-term care market is set to advance with a compound annual growth rate of 6.62% from 2023 to 2030. This trajectory aims to position the market's value at USD 1.74 trillion by 2030.

"Through the Lens of Progress: Surgical Microscopes Market Gearing Up for $2.9 Billion By 2030!"

 

Surgical Microscopes Market Growth & Trends 

The global surgical microscopes market size is expected to reach USD 2.9 billion by 2030, growing at a CAGR of 11.35% from 2023 to 2030, based on a new report by Grand View Research, Inc. With the advent of surgical microscopes, it became easier for surgeons to perform such procedures more accurately in less time. In addition, the introduction of technologically advanced products is driving the demand for surgical microscopes as they are more precise, offer better illumination sources, and provide options for customization and technology integration based on the complexity of the procedures.

Emerging technologies such as wide-angle illumination, Red Reflex illumination, automation and augmented reality microscopy are expected to boost the market growth. International players like Carl Zeiss Meditec AG and Leica Microsystems are contributing to the market by providing highly advanced, automated, and robotic surgical microscopes for more precision.

In response to the COVID-19 pandemic, hospitals decided to suspend all the elective and non-urgent surgeries, which has negatively impacted the market. However, with the ease of restrictions, treatments are resuming in many countries, including developing nations. Also, many companies, such as Alcon and Carl Zeiss, have resumed their business operations with the given government guidelines to deliver their orders.

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Surgical Microscopes Market Report

Report Attribute Details
Market size value in 2023 — USD 1.4 billion
Revenue forecast in 2030 — USD 2.9 billion
Growth Rate — CAGR of 11.35% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2017–2021
Forecast period — 2023–2030

Surgical Microscopes Market Report Highlights

• On casters was the largest type segment in 2022 due to the high portability & flexibility and low maintenance requirements of these tools. Moreover, the segment is expected to register the fastest growth over the forecast period due to the high use of casters microscope in various surgical fields
• The ophthalmology application segment accounted for the maximum revenue share in 2022. However, the ENT surgery segment is expected to register the fastest CAGR from 2023 to 2030. According to data published by The Children’s Hospital of Philadelphia, tympanostomy tube insertion surgery, also known as ear tube surgery, is the most commonly performed surgery in children in the U.S. More than 4,000 ear tube surgeries are performed each year at the hospital. Thus, an increasing number of ENT procedures is likely to favor segment growth
• Carl Zeiss Meditec AG and Leica Microsystems (Danaher Corporation) are the major players in the surgical microscopes market. Launch of new products, acquisitions, and geographic expansion are some of the strategies being adopted by key players in the market. In February 2019, Danaher Corporation acquired the Biopharma business of GE Healthcare, which also includes microscopy products the company
• Manufacturers such as Alcon, Nikon, and Carl Zeiss reported the decreases in the revenue in the second quarter of the year 2020 due to the impact of the COVID-19 pandemic which affected the supply chain of most of the companies. Currently, most of the companies have resumed their business and are delivering orders within the given guidelines pertaining to the COVID-19 pandemic

Question: What was the valuation of the surgical microscopes market?
Answer: The surgical microscopes market was valued at roughly USD 1.2 billion in 2022, with a projected increase to around USD 1.4 billion in 2023.

Question: How will the surgical microscopes market expand?
Answer: The surgical microscopes market is set to expand at a compounded annual growth rate of 10.87% between 2023 and 2030, reaching an estimated value of USD 2.9 billion by 2030.

"From Challenge to Triumph: Pulmonary Arterial Hypertension Market Envisions $11.0 Billion By 2030!"

 

Pulmonary Arterial Hypertension Market Growth & Trends

The global pulmonary arterial hypertension market size is anticipated to reach USD 11.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 5.32% from 2023 to 2030. The key factors driving the market growth include the increasing prevalence of pulmonary arterial hypertension, drug development and technological advancements, product approvals, and initiatives by key companies.

The COVID-19 pandemic had a notable impact on the market. The pandemic created uncertain market conditions and lead to dampened growth. Other impacts of the pandemic include operational challenges, supply chain bottlenecks, challenges in conducting clinical trials, among others. Market players also reported a reduction in new patient starts and new patient prescriptions during 2020.

For instance, the sales of Remodulin, Tyvaso, and Orenitram were affected by the reduction in new patient starts, during the second quarter of 2020. However, the new patient starts gradually recovered to pre-pandemic numbers during the second half of 2020. Market players responded to the COVID-19 pandemic by deploying various initiatives. These included maintaining a strong financial position, maintaining ample supply of products, deploying measures to facilitate uninterrupted distribution to patients, and R&D activities among others. Overall sales of PAH drugs, however, were largely unaffected by the pandemic as market players ensured ample supply during the pandemic.

Supportive product approvals by regulatory agencies such as an extended indication of use, first generics approval, approval of drug delivery devices, etc. are estimated to fuel the market growth in the near future. In March 2021, United Therapeutics’ Tyvaso received FDA clearance for use in patients with pulmonary hypertension associated with interstitial lung disease. In February 2021, the company launched- the Remunity Pump in the U.S.- a new subcutaneous delivery system for its key treprostinil product Remodulin.

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Pulmonary Arterial Hypertension Market Report

Report Attribute Details
Market size value in 2023 — USD 7.6 billion
Revenue forecast in 2030 — USD 11.0 billion
Growth Rate — CAGR of 5.32% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2017–2021
Forecast period — 2023–2030

Pulmonary Arterial Hypertension Market Report Highlights

• The market was valued at USD 7.3 billion in 2022 and is expected to expand at a CAGR of 5.32% during the forecast period
• The prostacyclin and prostacyclin analogs segment held the largest share of the market by drug class in 2022. The sales of these drugs are anticipated to grow sharply in the future, primarily due to the growth expected in oral, intravenous, subcutaneous, and inhalational prostacyclin agents
• The branded drugs segment dominated the market in 2022 while the generics segment is anticipated to grow at the fastest rate from 2023 to 2030
• In 2022, the oral segment accounted for the largest revenue share of the market by route of administration owing to the greater availability of PAH formulations as oral products such as tablets, powders, and suspension
• North America dominated the market in 2022 owing to a high adoption rate and supportive infrastructure for the development and distribution of high-quality therapies. Also, the availability of reimbursement on PAH therapies supported market growth
• Asia Pacific is anticipated to witness the fastest CAGR over the forecast period due to its huge population base, rapid economic developments, and improving healthcare infrastructure

"From Vision to Reality: Insulin Delivery Devices Market Enroute to $27.7 Billion by 2030!"

 

Insulin Delivery Devices Market Growth & Trends

The global insulin delivery devices market size is expected to reach USD 27.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2022 to 2030. Obesity, sedentary lifestyles, and unhealthy food habits, primarily in the young population, lead to the occurrence of diabetes. In addition, the growing diabetic geriatric population is another factor supporting the growth of this vertical. According to the United Nations, Department of Economic and Social Affairs, around 901 million individuals were aged 60 or over in 2015 and this number is projected to increase to 1.4 billion by 2030. Thus, the enlarging elderly population is expected to boost the demand for insulin delivery devices.

Technological innovations and advancements are an ongoing trend in this vertical. The high demand for advanced insulin delivery devices is supporting the adoption of recently launched innovative pen devices and portable pumps, which is estimated to boost the market growth. Also, favorable reimbursement policies for these devices, mainly in developed countries like the U.S. and Germany, are anticipated to fuel the market growth during the study period. However, stringent regulatory requirements regulating the approval of insulin delivery devices and the high cost of insulin analogs in diabetes care management are major factors restraining the growth of this industry.

The market’s prominent competitors are taking different initiatives such as acquisition, funding, and product development to expand their product portfolio and enhance their manufacturing capacity. For instance, in October 2021, Eli Lilly partnered with Cipla, to market its Insulin products (Humalog and Trulicity) in India. Additionally, In June 2021, the company acquired Protomer Technologies, to strengthen its market presence. Further, Novo Nordisk, joined hands with Biocorp to develop a Bluetooth-enabled smart add-on device for their pen insulin injector.

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Insulin Delivery Devices Market Report

Report Attribute Details
Market size value in 2022 — USD 15.6 billion
Revenue forecast in 2030 — USD 27.7 billion
Growth Rate — CAGR of 7.4% from 2022 to 2030
Base year for estimation — 2021
Historical data — 2018–2020
Forecast period — 2022–2030

Insulin Delivery Devices Market Report Highlights

• The insulin pens segment was the largest revenue-generating category of this market in 2021. The pen is equipped with self-contained cartridges and offers ease in handling and less pain while injecting insulin. The advantages of these pen devices over other products are resulting in their growing popularity, thus serving as a vital factor in contributing to the sector’s highest share in this market
• The home care segment is estimated to be the fastest-growing segment due to increased adoption of self-care diabetes management devices and the availability of simplified and user-friendly product designs for patients
• North America is the leading regional sector and accounted for the largest revenue share in 2021 primarily due to the favorable reimbursement scenario in this space. Also, the presence of major manufacturers in this region is supporting market growth
• In Asia Pacific, the market is anticipated to grow fast during the forecast period. The high prevalence rate of diabetes in countries, such as China and India, is a major factor contributing to market expansion in this region

Pharmaceutical Contract Manufacturing And Research Services Market Worth $395.2 Billion By 2030

 

Pharmaceutical Contract Manufacturing And Research Services Market Growth & Trends

The global pharmaceutical contract manufacturing and research services market size is expected to reach USD 395.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.10% from 2023 to 2030. The rising investments in R&D, increasing demand for generics, and the growing aging population with various chronic diseases are responsible for market growth. However, the advent of COVID-19 led to a temporary shutdown of research and manufacturing activities of ancillary goods used for manufacturing drugs, which had impacted the supply chain and is likely to have a negative impact on the market growth.

Outsourcing allows pharmaceutical companies to focus on their core competencies such as sales and marketing rather than manufacturing and research. This is expected to have a positive impact on the market growth. However, the pharmaceutical companies practicing in-house manufacturing are increasing their investments with respect to production capabilities. This may limit the potential growth of contract manufacturing services to traditional customers, thereby hampering industrial growth.

The COVID-19 pandemic has provided new opportunities for pharmaceutical contract manufacturing and research services. Because of this pandemic, the contract service sector has switched its focus toward manufacturing and research of COVID-19 therapies and vaccines. For instance, in October 2020, CDMO Recipharm formed an agreement with Arcturus Therapeutics to support the manufacturing of its COVID-19 vaccine candidate — ARCT-021. Currently, it is in the phase 1/2 clinical trial. Similarly, in March 2022, the biotechnology company GeoVax partnered with a CRO CATO SMS to support GeoVAX in the Phase 2 trials of the COVID-19 Vaccine candidate GEO-CM04S1.

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Pharmaceutical Contract Manufacturing And Research Services Market Report

Report Attribute Details
Market size value in 2023 — USD 244.5 billion
Revenue forecast in 2030 — USD 395.2 billion
Growth rate — CAGR of 7.10% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2018–2021
Forecast period — 2023–2030

Pharmaceutical Contract Manufacturing And Research Services Market Report Highlights

• By service, the manufacturing segment dominated the market in 2022. In this segment, Active Pharmaceutical Ingredient (API) / bulk drugs held the largest revenue share of over 60.0% in 2021. Pharmaceutical companies prefer outsourcing services for API research and manufacturing owing to the reduction in the cost of production of APIs
• In the manufacturing service segment, finished dose formulations are expected to register the fastest CAGR of 7.6% from 2023 to 2030
• The research service segment is further segmented based on therapeutic area, wherein oncology held a significant share of over 25.0% in 2021 and is anticipated to maintain its lead in the coming years owing to the high disease burden of cancer worldwide
• CMOs/CDMOs with the ability to establish facilities in emerging countries are expected to drive the market. The contract service sector is in its infancy in countries, including Brazil, India, and China
• Companies can position themselves for strong growth, given that demand is expected to expand rapidly in the coming years. Increased competitiveness in the contract service sector is anticipated to ultimately benefit the sector growth
• China, Japan, and India are projected to witness tremendous growth in the forecast period owing to high disease prevalence

Urinalysis Market Size Worth $5.4 Billion By 2030 | CAGR: 4.6%

 

Urinalysis Market Growth & Trends

The global urinalysis market size is expected to reach USD 5.4 billion by 2030, according to a new study by Grand View Research Inc. The market is expected to witness a CAGR of 4.6% from 2022 to 2030. Increasing incidence of UTI worldwide contributes to market growth. According to a study published by SHEA journal, in 2021, approximately 60% to 70% of urinalyses were being performed in patients without symptoms referable to the Gastrointestinal Tract (GU).

Increasing geriatric population and the subsequent increase in age related diseases in developed and developing regions will positively influence urinalysis market growth. According to the World Health Organization (WHO), the geriatric population increased from 1 billion in 2020 to 1.4 billion in 2021. The early diagnosis and management of chronic diseases in geriatric population is responsible for the increasing prescription rate for tests such as bilirubin, ketones, glucose, and creatinine. These tests are performed by urinalysis; hence, it is anticipated to drive market growth.

Moreover, for patients undergoing transplant surgeries including kidney and liver, transplant procedures is often recommended to undergo preoperative urinalysis to avoid urinary tract infections (UTIs). According to United Network for Organ Sharing data, around 24,669 kidney transplants, 9,236 liver transplants, and 3,817 heart transplants were performed in the U.S. in 2021. Thus, an increasing number of transplant surgeries is expected to fuel market growth.

Companies are taking initiatives such as collaboration and strategic partnerships for the development and marketing of technologically advanced urinalysis products. For instance, in October 2021, Sysmex entered into collaboration with Inpeco for the development of an automated urinalysis workflow solution of the highest level. This product was developed with a help of UN-Series of Sysmex’s and FlexLab TM track of Inpeco’s urinalysis solutions. It is the only fully open automation system that helps laboratories optimize their workflow support and provide premium patient care.

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Urinalysis Market Report

Report Attribute Details
Market size value in 2022 — USD 3,776.9 million
Revenue forecast in 2030 — USD 5.4 billion
Growth rate — CAGR of 4.6% from 2022 to 2030
Base year for estimation — 2021
Historical data — 2018–2020
Forecast period — 2022–2030

Urinalysis Market Report Highlights

• Based on product, the consumables segment held the largest share market in 2021 due to wider usage of dipsticks due to their efficiency coupled with lost costs
• Based on application, the disease screening segment accounted for the largest segment, owing to the increasing prevalence of target diseases such as UTI, kidney disease, and liver disease, along with the rising application of urinalysis for screening of these diseases
• On the basis of end-use, the clinical laboratories segment dominated the market in 2021 owing to higher patient footfall in clinical laboratories for urine testing for disease diagnosis
• Home care segment is expected to witness significant growth over the forecast period owing to increasing investment for the development of home-based urine testing kits for disease diagnosis
• North America segment dominated the market in 2021 due to favorable reimbursement policies, rising incidence of UTI, well-established healthcare infrastructure, and supportive regulatory reforms