Medical Tourism Market Size, Share and Trends Analysis Report by Treatment Type, 2030

Medical Tourism Industry Overview

The global medical tourism market size was valued at USD 4.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 32.51% from 2022 to 2030. Cost savings and additional benefits to visitors such as improved healthcare, cutting-edge technologies, breakthrough medicines, sophisticated devices, superior hospitality, and individualized care are some of the market's major drivers.

During the forecast period, the market is projected to advance at a breakneck pace. The high cost of health services in home countries is the primary factor propelling the market growth. Additionally, the industry is being driven by rising demand for procedures that are not covered by insurance, such as gender reassignment surgeries, reproductive therapy, dental reconstruction, and aesthetic surgery.

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In developing countries such as Thailand and Malaysia, a high-quality treatment can be availed at a lower cost, than in developed countries. Even though the cost of treatments in developing countries is minimal, the quality of the procedure is not compromised due to the availability of resources at relatively lower costs. This factor results in the influx of people to avail of health services in these countries.

Medical tourism has offered a method for people who cannot afford to wait for treatment in their native country, to avoid long queues by traveling overseas for treatment. Thus, to save time and avoid the aggravation of their medical issues, many patients rely on medical tourism and travel overseas to countries that offer procedures immediately. Furthermore, governments of many countries are focusing on promoting health and wellness tourism in their countries through various strategies. Strong government support is thus anticipated to favor market growth.

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Wellness Tourism Market - The global wellness tourism market size was valued at USD 814.6 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 12.42% from 2023 to 2030.

Fertility Tourism Market - The global fertility tourism market was valued at USD 417.5 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 30.33% from 2022 to 2030.

Medical Tourism Market Segmentation

Grand View Research has segmented the global medical tourism market based on service provider, treatment type and country:

Medical Tourism Treatment Type Outlook (Revenue, USD Million, 2016 - 2030)

• Cardiovascular treatment
• Orthopedic treatment
• Cosmetic treatment
• Bariatric treatment
• Dental treatment
• Ophthalmology treatment
• Infertility treatment
• Alternative medicine
• Others

Medical Tourism Service Provider Outlook (Revenue, USD Million, 2016 - 2030)

• Public
• Private

Medical Tourism Country Outlook (Revenue, USD Million, 2016 - 2030)

• Thailand
• India
• Costa Rica
• Mexico
• Malaysia
• Singapore
• Brazil
• Colombia
• Turkey
• Taiwan
• South Korea
• Czech Republic
• Spain
• China
• Australia
• Indonesia

Some prominent players in the global orthopedic devices market include:

• Apollo Hospitals Enterprise Ltd.
• Fortis Hospital
• Bumrungrad International Hospital
• Asklepios Kliniken GmbH & Co. KGaA
• Mount Elizabeth Hospitals
• Raffles Medical Group
• B. L. Kapur Memorial Hospital
• Kasemrad Hospital International Rattanathibet

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Orthopedic Devices Market Bargaining Power of Buyers Analysis Report by 2030

Orthopedic Devices Industry Overview

The global orthopedic devices market size was valued at USD 40.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.1% from 2022 to 2030. Market growth can be attributed to the high incidence of orthopedic disorders, such as degenerative bone disease, as well as the growing aging population and the rising number of road accidents. Furthermore, the early onset of musculoskeletal disorders, caused primarily by a sedentary lifestyle and obesity, is projected to fuel market growth. According to data published by the Global Burden of Disease in 2021, musculoskeletal conditions affect about 1.71 billion people in the world. Hence, an increase in musculoskeletal disorders is likely to drive the market from 2022 to 2030.

Currently, available trauma management techniques cannot help restore body parts completely due to the lack of efficient surgical tools. As a result, manufacturers are investing significantly in R&D to develop innovative and efficient devices. This increase in R&D activities is anticipated to ensure high market growth in the near future. An increase in the number of other bone-related disorders and technological advancements are expected to further boost the market. Obesity is one of the primary factors that can cause arthritis. According to studies published in the BMJ Journal in 2020, being overweight or obese increased the risk of knee Osteoarthritis (OA) by 2.5 to 4.6 times compared to being of normal weight. 

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Growing awareness about the availability of innovative products is pushing hospitals to constantly upgrade their devices and services. In addition, reimbursement coverage for orthopedic treatments has fueled the adoption of orthopedic surgeries. These factors allow customers to opt for advanced and higher-priced treatment options, thus, adding to the total revenue generated.

The introduction of advanced orthopedic devices is likely to reduce the price of older ones significantly. This helps increase the adoption of the latter across developing economies in Asia Pacific and the Middle East, where medical reimbursement availability is meager. The cumulative effect of these activities is expected to boost the procedural volume and market growth in the near future.

The COVID-19 pandemic adversely impacted the market due to the cancellation of elective procedures, low demand, and poor sales. Companies also had to face operational challenges due to supply chain disruptions, business closures, travel restrictions, employee illness or quarantines, stay-at-home protocols, and other extended interruptions. In the U.S., for instance, several public health bodies recommended postponing elective surgeries to prevent cross-infection and meet the demand for managing COVID-19 patients.

With the incidence of COVID-19 decreasing, several regulatory bodies released guidelines to help safely resume elective surgeries. These include guidelines prescribed by the American Hospital Association, American College of Surgeons, American Society of Anesthesiologists (ASA), and Association of Perioperative Registered Nurse. Gradual market recovery is anticipated over the coming years, owing to an increase in the target population, resumption of elective surgeries, and a backlog of planned surgeries.

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Orthopedic Implants Market - The global orthopedic implants market size was valued at USD 33.5 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2030.

Orthopedic Braces and Supports Market - The global orthopedic braces and supports market size was valued at USD 4.06 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030.

Orthopedic Device Market Segmentation

Grand View Research has segmented the global orthopedic devices market based on product, application, and region:

Orthopedic Devices Application Outlook (Revenue, USD Million, 2017 - 2030)

• Hip
• Knee
• Spine
• Cranio-Maxillofacial (CMF)
• Dental
• Sports Injuries, Extremities and Trauma (SET)

Orthopedic Devices Product Outlook (Revenue, USD Million, 2017 - 2030)

• Accessories
• Surgical Devices

Orthopedic Devices Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

January 2021: Stryker acquired OrthoSensor, Inc., a private company that specializes in musculoskeletal care.

November 2020: Medtronic PLC launched Adaptix Interbody System a titanium spinal implant.

Key Companies profiled:

Some prominent players in the global orthopedic devices market include:

• Medtronic PLC
• Stryker Corporation
• Zimmer-Biomet Holdings, Inc.
• DePuy Synthes
• Smith and Nephew PLC
• Aesculap Implant Systems, LLC
• Conmed Corporation
• Donjoy, Inc.
• NuVasive, Inc.

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Weight Management Market demand is driven by Growing Obese Population, Including Childhood Obesity

Weight Management Industry Overview

The global weight management market size was valued at USD 132.7 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 9.7% over the forecast period. The market growth can be attributed to the rising volumes of bariatric surgeries, rapid adoption of online weight loss & management programs, growth in disposable income levels in developing countries, increasing government initiatives for creating awareness about weight management, and growing cases of obesity due to sedentary lifestyles. According to the Institute of Health Metrics and Evaluation, 30.0% of the world’s population is either obese or overweight. Obesity poses an enormous challenge for the developed countries and the lower & middle-income countries.

The overweight and obese population report a high prevalence of chronic diseases including diabetes, hypertension, and orthopedic diseases. Thus, the growing obese population is driving the market growth. The penetration of childhood obesity is growing throughout the world due to factors, such as unhealthy eating habits and a lack of physical activity. The percentage of childhood obesity cases that occurred due to hormonal problems is very low. As per the article published by Narayana Health, India reported about 14.4 million cases of obesity in children, which is the second-highest number of obese children in the world.

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Due to the increasing number of hours in front of televisions and computers, there is a significant rise in inactive hours. Overweight or obese children have higher chances of having chronic diseases at an early age. Increasing consumption of junk food, physical inactivity, and the growing fast-food industry are leading to an unhealthy & sedentary lifestyle, which results in weight gain. In addition, increasingly hectic routines and growing stress are causing people to consume fast foods, which is leading to untoward health effects. Thus, all these factors together are fueling the market growth. Rapid globalization and digitalization are ensuring easier access to information about the repercussions of being overweight.

This is leading to increased awareness about various weight management solutions, such as diet meals, beverages & supplements, exercise, and surgical procedures. An increase in the prevalence of chronic diseases due to rapid urbanization and changing lifestyles has contributed heavily to the growth of the market. People, to avoid getting diseases associated due to a lack of physical activity, are increasingly opting for weight management products and services. The COVID-19 pandemic has had a negative impact on the market. There was a decline in the sales of products & services as consumers were focusing on the purchase of essential goods.

Moreover, the temporary closure of gyms, fitness centers, health clubs, and sports institutes negatively impacted the market growth. However, online sales increased rapidly in 2020 due to the increased awareness about the importance of having a healthy lifestyle and overall wellbeing. The availability of a wide range of products in different forms including Ready-to-Drink (RTD) beverages, bars, gels, and powders is projected to drive the market. Manufacturers are adding innovative flavors and functional ingredients to enhance the nutritional value of their products. For instance, brands are adding natural ingredients, caffeine, and low-sugar contents to RTD products. For, instance, Life Extension, in April 2022, launched Waistline Control, which helps in reducing the waistline.

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Fitness App Market - The global fitness app market size was valued at USD 1.3 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2023 to 2030.

Fitness Tracker Market - The global fitness tracker market size to be valued at USD 138.7 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 18.9% during the forecast period.

Weight Management Market Segmentation

Grand View Research, Inc. has segmented the global weight management market on the basis of function and region:

Weight Management Function Outlook (Revenue, USD Million, 2016 - 2030)

• Diet
• Fitness equipment
• Services

Weight Management Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Share Insights

February 2022: Cult.fit acquired a majority stake in the Gold’s Gym fitness centers chain across India.

Key Companies profiled:

Some of the key players in the global weight management market include:

• Herbalife International, Inc.
• NutriSystem, Inc.
• Weight Watchers International, Inc.
• com
• Brunswick Corp.
• Life Extension
• Ethicon US, LLC: Ethicon Endo-surgery, Inc.
• Apollo Endosurgery Inc.
• Kellogg Company
• Technogym

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What are the Factors Driving the Intraoperative Neuromonitoring Market?

Intraoperative Neuromonitoring Industry Overview

The global intraoperative neuromonitoring market size was valued at USD 3.02 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. The growth of the market can be attributed due to the increasing emphasis on patient safety during difficult surgical procedures and the growing prevalence of chronic disorders, such as stroke, epilepsy, Alzheimer’s disease, and Parkinson’s disease. According to the WHO, hundreds and millions of people worldwide are affected by neurological disorders. Annually, 15 million people worldwide suffer a cerebral stroke. This has contributed to the growth of the market.

The COVID-19 pandemic is expected to have a dual impact on the intraoperative neuromonitoring (IONM) market. To allocate & direct medical supplies and capacity to COVID-19 response, hospitals in the U.S. and around the world have postponed and delayed elective surgeries to varying degrees. Manufacturers have found it difficult to serve their surgeon customers since some hospitals have restricted access to their facilities or changed access regulations. As a result, they saw a decrease in procedural volume in 2020, which is expected to impede growth.

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Moreover, the development of advanced devices, such as neurosurgery devices, surgical microscopes, ophthalmic surgical devices, and surgical robots, has led to a reduction in direct human interference in surgical procedures, which is also expected to support the market growth in the near future. For instance, in October 2020, Medtronic plc received 510(k) clearance from the U.S. FDA for the NIM Vital nerve monitoring system, which allows physicians to detect, monitor, and confirm nerve function, to assist in reducing the risk of nerve damage during head & neck surgeries. The NIM Vital system employs patented technology to deliver precise intraoperative nerve status data that influence surgical strategy, improve operative efficiency & precision, and help patients maintain their quality of life. These factors are expected to impel growth in the near future. 

Increasing government initiatives and growing awareness about products and services are further expected to boost growth. For instance, Accurate Neuromonitoring provided IONM in Africa during the 2019 Weill Cornell Tanzania Neurosurgery Mission. The mission trip raised awareness about the need for IONM in difficult brain & spine procedures and demonstrated the need for it, which is anticipated to boost the growth of the intraoperative neuromonitoring market.

The U.S. dominated the market with the highest share of 97.16% in 2021. The increasing prevalence of chronic diseases and the growing geriatric population are the factors driving growth in the U.S. According to CDC in 2021, at least one chronic condition, such as stroke, heart disease, cancer, or diabetes, affects six out of 10 Americans. Chronic diseases such as these are the main causes of death and disability in the U.S, as well as major drivers of healthcare expenses. In addition, the market is impelled by continued medical infrastructure construction as well as growing government and private sector investments to promote the usage of safer & more cost-effective healthcare solutions. 

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Surgical Microscopes Market - The global surgical microscopes market size was valued at USD 1.1 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 11.37% from 2022 to 2030.

Surgical Robots Market - The global surgical robots market size was valued at USD 4.4 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 18.0% from 2023 to 2030.

Intraoperative Neuromonitoring Market Segmentation

Grand View Research has segmented the global intraoperative neuromonitoring market based on type and region:

Intraoperative Neuromonitoring Type Outlook (Revenue, USD Million, 2017 - 2030)

• Insourced
• Outsourced

Intraoperative Neuromonitoring Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Share Insights

December 2017: Safe Passage Health and NuVasive, a privately held supplier of IONM services, announced the signing of a formal agreement in which NuVasive would acquire Safe Passage. NuVasive Clinical Services (NCS) would maintain its position as the provider of outsourced IONM services in the U.S. by acquiring Safe Passage, with over 3,000 surgeons & supervision physicians to serve over 1,000 clients and 550 neurophysiologists

Key Companies profiled:

Some prominent players in the global intraoperative neuromonitoring market are:

• Natus Medical Incorporated
• Accurate Monitoring
• NeuroMonitoring Technologies
• Biotronic NeuroNetwork, LLC
• Medtronic
• NuVasive Inc.
• SpecialtyCare
• Sentient Medical Systems

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Glucose Biosensors Market Variables, Trends, and Scope Analysis Report by 2030

Glucose Biosensors Industry Overview

The global glucose biosensors market size was valued at USD 10,206.3 million in 2021 and is anticipated to expand at a CAGR of 7.9% during the forecast period. The rise in the adoption of non-invasive and small-sized glucose monitoring systems coupled with the increasing incidence of diabetes globally is expected to boost the market growth. According to the International Diabetes Federation in 2021, there were about 537 million people diagnosed with diabetes, which is expected to reach 643 million by 2030 and 783 million by 2045. In addition, increasing patient awareness, and early diabetes detection is expected to contribute to the market growth. Diabetic patients consistently need to monitor their blood glucose levels to avoid complications.

Glucose biosensors are used to monitor a patient's blood glucose concentration and are an essential part of diabetes management. As a result, a glucose biosensor that is accurate, sensitive, and reliable is essential. Furthermore, the growing demand for self-monitoring devices has augmented the use of biosensors among diabetic patients. These are now available as small and minimally invasive devices that measure glucose levels even in outpatient settings and home care.  

The gold standard method for diabetes diagnosis and management is still blood glucose detection. Apart from blood, saliva, urine, sweat, interstitial fluids, and tears, there are other bodily fluids in which glucose is present in various concentrations. For instance, in October 2021, Penn State University researchers invented a novel technique that can assess glucose in sweat rather than blood, removing the need for a needle prick. 

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Technological advancements are expected to play an integral role in boosting usage rates. This is evident from the development of minimal and non-invasive glucose biosensors in the market. Several companies, including small and major players, conduct extensive R&D activities to develop less painful, cost-effective, more accurate, and reliable products. For instance, in September 2020, Abbott launched the Libre Sense Glucose Sport Biosensor, a glucose sport biosensor that is designed to help athletes better understand the relationship between their glucose levels and athletic performance. 

The COVID-19 pandemic has provided untapped opportunities for glucose biosensors to gain ground in the diabetic care sector. Consumers are more aware of the benefits of blood glucose monitoring devices, as there was a focus on the usage of virtual clinics and telemedicine for diabetic management during the pandemic. The glucose biosensors assisted patients and healthcare providers in improving glycemic control and possibly increasing patient self-management, resulting in a dramatic shift in diabetes care. However, the economic setback experienced by patients. 

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Biosensors Market - The global biosensors market size was valued at USD 26.8 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.0% from 2023 to 2030.

Disposable Medical Sensors Market - The global disposable medical sensors market size was valued at USD 9.52 billion in 2022. It is expected to grow at a compound annual growth rate (CAGR) of 18.45% from 2023 to 2030.

Glucose Biosensors Market Segmentation

Grand View Research has segmented the global glucose biosensor market based on type, device, end use, and region:

Glucose Biosensors Type Outlook (Revenue, USD Million, 2017 - 2030)

• Electrochemical biosensor
• Optical Biosensor
• Other

Glucose Biosensors End Use Outlook (Revenue, USD Million, 2017 - 2030)

• Hospitals
• Homecare
• Diagnostic centers

Glucose Biosensors Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Share Insights

May 2020: Medtronic announced that the Android version of its Guardian Connect CGM system has been approved by the U.S. FDA. The Guardian Connect system is a standalone CGM device that notifies patients up to 60 minutes in advance of anticipated high or low sensor glucose events.

Key Companies profiled:

Some prominent players operating in the glucose biosensors market include:

• Abbott Laboratories
• Dexcom
• Ascenia Diabetes Care
• Nova Diabetes Care
• Hoffmann-La Roche Ltd.
• Sanofi
• GlySens Incorporated
• Trividia Health
• Bayer
• Lifescan

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Defibrillator Market Key Players are BIOTRONIK SE & Co. KG and Koninklijke Philips N.V.

Defibrillator Industry Overview

The global defibrillators market size was valued at USD 11.35 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030. Increasing product developments, rising incidence of sudden cardiac arrest, growing awareness among the general public, and supportive initiatives by governments and healthcare organizations are some of the key factors fueling the growth of this market. In May 2021, an Australian company- Rapid Response Revival Research Ltd. received a CE mark for its CellAED-the world’s first personal AED for home use. This supported the company’s growth strategy.

The COVID-19 pandemic adversely impacted the market, in particular the ICDs market, with dampened demand and sales during 2020. The sales improved as the hospitals resumed elective surgeries. However, the progression of COVID-19 in several key markets continued to create uncertainty during the year. Abbott, for instance, reported improvement in its hospital-based businesses during Q2 and Q3 2020. However, the improving trends flattened or were negatively impacted during Q4 2020 due to a sudden increase in COVID-19 cases and hospitalizations in many countries. Nihon Kohden, on the other hand, reported strong sales growth of defibrillators in 2020, despite inhibited sales activity due to the pandemic.

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Death due to sudden cardiac arrest is attributable to nearly half of all deaths from cardiovascular diseases despite developments in prevention and treatment. This is anticipated to drive innovation in the market while increasing demand for both ICDs and external defibrillators. Ami Italia, for instance, manufactures a range of defibrillators as part of its Saver One series, Geo Saver series, and Smarty Saver series. The Smarty Series, for example, can be used by anyone in medical and nonmedical fields in various settings, such as ambulances, emergency rooms, and public or private places. Microport, on the other hand, is the leader in the cardiac rhythm management market in China. It registered 95% growth in revenue during H1 2021 in the Chinese market owing to a wide portfolio and robust product pipeline.

Growing awareness regarding cardiovascular events in developing markets is another key driver for the market. In the UAE, the number and usage of defibrillators are notably low. However, the presence of local distributors and increasing initiatives to raise awareness regarding cardiac health are expected to contribute to the market growth in the coming years. In September 2019, the Dubai Corporation for Ambulance Services (DCAS) announced that it would donate 80 AEDs to various places of worship, private and government entities, and other venues in the city, in addition to training chosen volunteers. This was part of the My City Saves Me campaign to create and connect a pool of trained volunteers through DCAS’ Help Me app. Some of the leading distributors active in the UAE include Defibrillator Dubai, Gulf AED, AED Dubai, and Atlas Medical Group.

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External Defibrillators Market - The global external defibrillators market size was valued at USD 2.9 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030.

Ambulatory Cardiac Monitoring Devices Market - The global ambulatory cardiac monitoring devices market size was valued at USD 5.77 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.4% over the forecast period from 2023 to 2030.

Defibrillator Market Segmentation

Grand View Research has segmented the global defibrillators market on the basis of product, end use, and region:

Defibrillators Product Outlook (Revenue, USD Million, 2017 - 2030)

• Implantable Cardioverter Defibrillators (ICD)

• External Defibrillators (ED)

Defibrillators End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Hospital
• Pre Hospital
• Public Access Market
• Alternate Care Market
• Home Healthcare

Defibrillator Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

February 2020: Abbott, on the other hand, received CE Mark for its Gallant ICDs and CRT-D devices. This supported the company’s growth objectives.

August 2019: ZOLL Medical Corporation acquired Cardiac Science Corporation- a leading AEDs manufacturer in the U.S. This strengthened ZOLL's AED product portfolio and accelerated the global expansion plans of the company’s AED business.

Key Companies profiled:

Some prominent players in the global Defibrillator market include -

• Medtronic
• Abbott
• Boston Scientific Corporation
• BIOTRONIK SE & Co. KG
• MicroPort Scientific Corporation
• Koninklijke Philips N.V.
• Stryker
• ZOLL Medical Corporation (Asahi Kasei)
• Nihon Kohden Corporation
• Progetti Srl
• Schiller AG

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Dermatology Devices Market Top Companies are Solta Medical, Inc. and Cutera, Inc.

Dermatology Devices Industry Overview

The global dermatology devices market size was valued at over USD 12.5 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 11.9% over the forecast period. The increasing prevalence of skin cancer and other skin diseases is contributing largely to the high product demand. Furthermore, the growing awareness among people about the esthetic appeal and technological advancements in dermatology devices are also increasing the adoption of these devices significantly. A rise in disposable income is also considered as one of the important factors driving the market growth. The prevalence of melanoma and non-melanoma skin cancers is rising significantly.

According to The Skin Cancer Foundation, around 10,130 people die due to melanoma every year in the U.S. Furthermore, the American Cancer Society 2018 statistics had stated that, in the U.S., around 91,270 new melanoma cases will be diagnosed in that year. Meanwhile, the American Academy of Dermatology (AAD) estimated that 1 in 3 Americans visit dermatologists, and 1 in every 4 are affected with skin disease every year. Hence, there is a growing need for rapid diagnosis of skin disorders. The COVID-19 pandemic had significantly affected the market. Initially, the lockdown and supply chain disruption had negatively affected the market.

Gather more insights about the market drivers, restraints, and growth of the Global Dermatology Devices market

Short-term negative growth was observed in the market due to almost complete suspension of non-COVID-19 related surgeries, limited operations of manufacturing, and disruption in the supply chain. However, the market has seen a V-shape recovery. With the successful rollout of vaccines in all regions, the volume of dermatological devices is beginning to recover to its pre-pandemic levels. In 2021, the market witnessed high demand due to the backlog of 2020 and increased consumer interest & awareness about dermatological procedures. The market witnessed high volatility during the past few months.

However, it is expected to return to its normal growth trend by 2023. In the current scenario, people of all age groups are increasingly concerned about enhancing their esthetic appeal, which will also support the market growth. Complete skin rejuvenation improves the esthetic appeal of a person. There has been a latent shift from using conventional products to technologically advanced equipment, which aids in better diagnosis and treatment of various skin diseases as well as in improving one’s overall appearance. Thus, the introduction of technologically advanced non-invasive laser therapies has led to the high demand for dermatology devices.

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Anti-acne Cosmetics Market - The global anti-acne cosmetics market size was valued at USD 4.13 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2022 to 2030.

Laser Hair Removal Market - The global laser hair removal market size was valued at USD 798.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.4% from 2022 to 2030.

Dermatology Devices Market Segmentation

Grand View Research has segmented the global dermatology devices market on the basis of product, application, end-use, and region:

Dermatology Devices Product Outlook (Revenue, USD Million, 2017 - 2030)

• Diagnostic Devices
• Treatment Devices

Dermatology Devices Application Outlook (Revenue, USD Million, 2017 - 2030)

• Diagnostic Devices
• Treatment Devices

Dermatology Devices End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Hospitals
• Clinics
• Others

Dermatology Devices Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

November 2021: Lancer Skincare, the premier Beverly Hills-based international skincare brand, teamed up with ByondXR to launch The Virtual Lancer Dermatology Shop. Lancer Skincare’s new virtual store will provide customers with the in-home benefits of a Lancer dermatology practice through a curated, digital experience that moves across the newly growing digitized world. 

August 2021: STRATA Skin Sciences, Inc. completed the acquisition of the U.S. dermatology business of Ra Medical. This acquisition provided STRATA an opportunity to immediately market its full business solution to Ra Medical’s existing customer base of 400 dermatology practices.

Key Companies profiled:

Some prominent players in the global Dermatology Devices market include -

• Alma Lasers GmbH
• Cynosure, Inc.
• Solta Medical, Inc.
• Cutera, Inc.
• Syneron Medical Ltd.
• Canfield Scientific, Inc.
• 3Gen
• Aesthetic Group
• Ambicare Health
• Image Derm, Inc.
• Lumenis, Ltd.

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Recent Technological Advancements in Infusion Pumps fuel Home Infusion Therapy Market demand by 2030

Home Infusion Therapy Industry Overview

The global home infusion therapy market size was valued at USD 33.5 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2023 to 2030. Home infusion therapy refers to the process in which patients receive treatment at home through the administration of drugs or biologicals through catheters and needles. Receiving treatment at home as opposed to hospitals or healthcare facilities is a cost-effective and more convenient option for patients, further driving the need for home infusion therapy.

The Covid-19 pandemic had a positive impact on the home infusion market as the technique of home infusion was the need of the hour as healthcare settings were burdened with increasing covid patients. The regional and country-wide lockdowns had significantly affected operations and supply chains, but the market increased considerably in 2020. According to Medtech Dive, in October 2020, Baxter announced third-quarter sales of USD 2.97 billion, which is a 4% increase, due to the growing demand for its COVID-related medical products. Additionally, Baxter announced operational sales growth of 6% (3.2 billion) in Q3 2021 as compared to 3.0 billion in Q3 2020, reflecting the steady impact of pandemic recovery.

Gather more insights about the market drivers, restraints, and growth of the Global Home Infusion Therapy market

The COVID-19 pandemic led to a spike in the hospitalization of several people and often many were to be placed on ventilators. This occupied space in hospitals as the infected patients are to be placed where they will not contaminate patients and the healthcare professionals affecting them. Due to the increasing need for space and beds in hospitals, companies are focusing to transition patients from the hospital to in-home, creating demand for home infusion therapy. The key factors fueling the growth of the market include the increasing geriatric population with decreased mobility profile, rising preference for home care, and rapid technological advancements. Several conditions such as immune deficiencies, cancer, and congestive heart failure require infusion therapy as these conditions cannot be treated with oral medication. Since these patients require long-term treatment, home infusion therapy is considered a more cost-effective alternative to receiving treatment in hospitals.

In February 2020, the Cancer Care at Home program was launched by the Penn Center for Cancer Care Innovation at the University of Pennsylvania’s Abramson Cancer Center. It aimed to broaden the delivery of oncology treatments to patients in the home setting. From mid-March to late April, the company reported a 700% increase in the number of patients participating in the program. This highlights the bright future that lies ahead for the home infusion market in the years to come.

Browse through Grand View Research's Medical Devices Industry Research Reports.

Intravenous Infusion Pump Market - The global intravenous infusion pump market size was estimated at USD 5.3 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 8.3% from 2023 to 2030.

Drug Device Combination Products Market - The global drug device combination products market size was valued at USD 118.13 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.8% from 2022 to 2030.

Home Infusion Therapy Market Segmentation

Grand View Research has segmented the global home infusion therapy market on the basis of product, application, and region:

Home Infusion Therapy Product Outlook (Revenue, USD Million, 2017 - 2030)

• Infusion Pumps
• Intravenous Sets
• IV Cannulas
• Needleless Connectors

Home Infusion Therapy Application Outlook (Revenue, USD Million, 2017 - 2030)

• Anti-infective
• Endocrinology
• Hydration Therapy
• Chemotherapy
• Enteral Nutrition
• Parenteral Nutrition
• Specialty Pharmaceuticals
• Others

Home Infusion Therapy Route of Administration Outlook (Revenue, USD Million, 2017 - 2030)

• Intramuscular
• Subcutaneously
• Epidural

Home Infusion Therapy Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

December 2021: Baxter International completed the acquisition of Hillrom. This acquisition will help the company in broadening its geographic footprint and integrating medical device technology that will enhance patient care, lower costs, and increase workflow efficiency.

May 2021: Smiths Medical and Ivenix, Inc. announced a partnership agreement to offer a comprehensive suite of infusion management solutions in the U.S. market. This partnership is expected to evolve infusion management to improve patient safety.

Key Companies profiled:

Some prominent players in the global Home Infusion Therapy market include -

• CVS/Coram
• Option Care Health
• CareFusion Corporation
• BriovaRx/Diplomat (UnitedHealth Optum)
• PharMerica
• Fresenius Kabi
• ICU Medical, Inc.
• B. Braun Melsungen AG
• Baxter
• BD
• Caesarea Medical Electronics
• Smiths Medical
• Terumo Corporation
• JMS Co. Ltd.

Order a free sample PDF of the Home Infusion Therapy Market Intelligence Study, published by Grand View Research.

Wearable Medical Devices Market is expected to expand at a CAGR of 28.1% by 2030

Wearable Medical Device Industry Overview

The global wearable medical device market size was valued at USD 21.3 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 28.1% from 2022 to 2030. The growth of industries such as home healthcare and remote patient monitoring devices is anticipated to influence market growth. In addition, increasing focus on fitness and a healthy lifestyle orientation are also expected to impact the market. A surge in product demand during the COVID-19 pandemic and increasing awareness about personal health monitoring are expected to be some of the major market drivers.

Also, due to the sedentary routine, the incidence and prevalence of lifestyle-associated disorders, such as diabetes and hypertension, are projected to increase over the forecast period. Some of these diseases demand continuous monitoring of several physiological parameters, for instance, blood sugar levels and blood pressure. This allows the amalgamation of healthcare data with portable medical devices, which can then be forwarded to physicians to have real-time access to data and minimize errors. Moreover, the rising mortality rate due to non-communicable diseases is the major reason for concern demanding more focus on personalized monitoring and care. This is ultimately anticipated to further increase the demand for wearable medical products.

Gather more insights about the market drivers, restraints, and growth of the Global Wearable Medical Device market

The outbreak of the COVID-19 pandemic has extended the role of wearable medical devices in the healthcare trade. Various companies are entering the landscape, with innovative wearable products that can help detect the early warning signs of viral infections. For example, Ava Bracelet, which is primarily used as a fertility tracker, is now being leveraged to help in combating the coronavirus. This bracelet tracks heart rate variability, breathing rate, and skin temperature making it useful in tracking symptoms of the virus. This offers a unique opportunity during this pandemic.

The rising prevalence of chronic diseases along with increasing mortality rates is a major area of concern among people as well as government organizations. Thus, healthcare providers are offering personalized care including continuous and remote patient monitoring. Also, these can be worn for 24 hours without affecting the routine life. Hence, considering the various advantages that it offers, the demand for wearable medical devices is projected to boost over the forecast period.

Increasing attention on fitness is a high-impact rendering driver for the market. Various wearable medical products and software have been developed for the management of weight and fitness. Usually, wristbands are connected with cell phones that display real-time tracking of activities such as steps walked, calories burned, calorie intake, miles a person ran, etc. By compiling all the data together, vital information such as the body mass index is obtained. The regular study of these statistics helps in providing a good health plan to individuals as well as healthcare professionals. Also, the fitness club count is seen increasing in recent years. According to the 2019 IHRSA Global Report, there are around 183 million users of fitness clubs globally.

Browse through Grand View Research's Medical Devices Industry Research Reports.

Home Healthcare Market - The global home healthcare market size was valued at USD 336.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.93% from 2022 to 2030.

Remote Patient Monitoring System Market - The global remote patient monitoring system market size was valued at USD 4.4 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 18.5% over the forecast period.

Wearable Medical Device Market Segmentation

Grand View Research has segmented the global wearable medical devices market based on product, site, application, and region:

Wearable Medical Devices Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Diagnostic Devices
• Therapeutic Devices

Wearable Medical Devices Site Outlook (Revenue, USD Billion, 2018 - 2030)

• Handheld
• Headband
• Strap/Clip/Bracelet
• Shoe Sensors
• Others

Wearable Medical Devices Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Sports And Fitness
• Remote Patient Monitoring
• Home Healthcare

Wearable Medical Device Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

November 2020: Royal Philips and African Union announced a partnership to strengthen healthcare infrastructure and enhance access to care in African Union Member States by improving access to medical equipment.

November 2020: Royal Philips announced the introduction of Philips Ventilator BiPAP A40 EFL. This initiative would help the company in expanding its home healthcare portfolio for COPD patients.

Key Companies profiled:

Some prominent players in the global Wearable Medical Device market include -

• Philips Electronics
• Fitbit
• Basis Science
• Garmin
• Covidien
• Omron Corp.
• Withings
• Vital Connect
• Polar Electro
• Intelesens
• Everist Genomics
• Intelesens
• Sotera Wireless

Order a free sample PDF of the Wearable Medical Device Market Intelligence Study, published by Grand View Research.

Increasing Prevalence Of Hospital-Acquired Infections drive Antiseptics and Disinfectants Market Revenue

Antiseptics and Disinfectants Industry Overview

The global antiseptics and disinfectants market size was valued at USD 34.9 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 10.1% from 2022 to 2030. An increase in the prevalence of diseases such as typhoid, cholera, hepatitis A, food poisoning, and dengue, primarily due to lack of home cleanliness, is one of the major factors expected to drive market growth. For instance, as per a report published by WHO in 2022, Over the last two decades, the number of dengue cases reported to WHO has surged by more than 8-fold, from 505,430 cases in 2000 to over 2.4 million in 2010, and 5.2 million in 2019. Such diseases are mainly caused by viruses, bacteria, and germs, which thrive in unhealthy home environments and unhygienic toilets, latrines, and kitchens.

The application of antiseptic and disinfectant solutions is, therefore, an essential requirement to maintain home cleanliness. Such solutions prevent the growth of harmful bacteria and viruses, reducing the chance of acquiring these diseases. Hence, an increase in awareness about home cleanliness is anticipated to propel the market for antiseptics and disinfectants over the forecast period. The current COVID-19 outbreak is expected to have a substantial impact on the market for antiseptics and disinfectants. The COVID-19 pandemic, as well as an overall increase in hospital admissions around the world, has boosted the demand for medical disposables.

Gather more insights about the market drivers, restraints, and growth of the Global Antiseptics And Disinfectants market

To meet the rising worldwide demand for cleaning, deodorizing, and disinfecting in high-traffic facilities, including office buildings, hotels, schools, nursing homes, and hospitals due to the COVID-19 outbreak, the WHO has urged industry and governments to expand the production of antiseptics and disinfectants. For instance, according to the German Federal Statistical Office, in 2020, demand for disinfectants has risen in the aftermath of the coronavirus pandemic, for example, 80% more hygiene products were produced in Germany between January and September 2020 than in the same period last year. Additionally, antiseptics and disinfectants manufacturing companies use unique and new technologies to design, produce, and sell products to diverse end customers based on the amount of protection required for distinct job risks.

For instance, in November 2020the Environmental Protection Agency (EPA) of the U.S. approved 3M's disinfectant TB Quat for SARS-CoV-2 which is a ready-to-use cleaner. Third-party lab testing of 3M's disinfectant TB Quat ready-to-use cleaner on hard, non-porous surfaces with a 60-second contact period proved the disinfectant's effectiveness against the virus. As a result, market growth is expected to accelerate in the near future. Moreover, in January 2021, 5 SC Johnson home cleaning products have been added to Health Canada's list of effective disinfectants for use against SARS-CoV-2. SC Johnson has approved the following disinfectants to kill SARS-CoV-2, the virus that causes COVID-19 symptoms like scrubbing bubbles. They come in a variety of fragrances. Thus, due to the past and ongoing advancements through various companies, the positive impact of the COVID-19 pandemic was seen on the market for antiseptics and disinfectants.

Browse through Grand View Research's Medical Devices Industry Research Reports.

Medical Adhesive Tapes Market - The global medical adhesive tapes market size was valued at USD 750.9 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030.

Scar Treatment Market - The global scar treatment market was valued at USD 23.5 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.9% from 2023 to 2030.

Antiseptics and Disinfectants Market Segmentation

Grand View Research has segmented the global antiseptics and disinfectants market on the basis of type, product, sales channel, end-use, and region:

Antiseptics and Disinfectants Type Outlook (Revenue, USD Million, 2017 - 2030)

• Quaternary Ammonium Compounds
• Chlorine Compounds
• Alcohols & Aldehyde Products
• Enzyme
• Others

Antiseptics and Disinfectants Product Outlook (Revenue, USD Million, 2017 - 2030)

• Enzymatic Cleaners
• Medical Device Disinfectants
• Surface Disinfectants

Antiseptics and Disinfectants Sales Channel Outlook (Revenue, USD Million, 2017 - 2030)

• B2B
• FMCG

Antiseptics and Disinfectants End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Hospitals
• Clinics
• Others

Antiseptics and Disinfectants Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

January 2021: Cantel Medical Corporation was acquired by STERIS through a subsidiary in the U.S. Cantel is a global provider of infection prevention services and products, with a focus on dental and endoscopic customers.

June 2018: Fortive Corporation made a binding bid to buy Johnson & Johnson's Advanced Sterilization Products business, which is part of Ethicon, Inc.

Key Companies profiled:

Some prominent players in the global Antiseptics and Disinfectants market include -

• 3M
• Reckitt Benckiser
• Steris Plc
• Kimberly-Clark Corporation
• Bio-Cide International, Inc.
• Cardinal Health
• BD
• Johnson & Johnson

Order a free sample PDF of the Antiseptics And Disinfectants Market Intelligence Study, published by Grand View Research.

Aesthetic Medicine Market Supply Chain Analysis, Growth Prospect Mapping and Forecast

Aesthetic Medicine Industry Overview

The global aesthetic medicine market size was valued at USD 99.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 14.5% from 2022 to 2030. Manufacturers coming up with innovative aesthetic devices has led to an increased demand for aesthetic treatments in recent years. For instance, the introduction of technologically advanced products, such as non-invasive body contouring systems that use fat freezing technology, is expected to create lucrative opportunities for market growth in the coming years. According to the Aesthetic Society (U.S.), non-invasive body fat reduction was among the top 5 non-invasive procedures in the U.S. in 2020 with 140,314 procedures being carried out.

The COVID-19 pandemic had significantly affected the market for aesthetic medicine. Initially, social distancing and a sudden sharp cut in consumers’ income levels had negatively impacted the market. The market had witnessed a phase of short-term negative growth owing to factors such as a decline in product demand, limited operations, temporary closures of beauty centers, and disruption in the manufacturing and supply chain.

Gather more insights about the market drivers, restraints, and growth of the Global Aesthetic Medicine market

However, remote working has increased the time spent on Zoom calls. Adults are paying attention to their physical appearance closely. This has increased the demand for cosmetic surgeries, with Botox being one of the most popular procedures preferred. Interest in non-invasive procedures has increased during the past few months while interest in invasive procedures has declined. Thus, the market has witnessed a spike during the past few months and it is expected to be in high demand throughout the forecast period.

The growing urge to look young and fit has increased the demand for aesthetic treatment in developing countries. Aesthetic procedures such as liposuction, nose reshaping, and Botox injections are gaining consumer interest in countries such as India and South Korea. According to the International Society of Aesthetic Plastic Surgery (ISAPS), India was ranked among the top 5 countries performing non-surgical procedures at a global level. This highlights the high growth prospects that lie ahead for aesthetic medicine manufacturers in the country.

Browse through Grand View Research's Medical Devices Industry Research Reports.

Laser Hair Removal Market - The global laser hair removal market size was valued at USD 798.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.4% from 2022 to 2030.

Nasal Packing Devices Market - The global nasal packing devices market size was valued at USD 173.2 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2030.

Aesthetic Medicine Market Segmentation 

Grand View Research has segmented the global aesthetic medicine market on the basis of procedure type, gender, end-User and region:

Aesthetic Medicine Procedure Outlook (Revenue, USD Million, 2018 - 2030)

• Invasive Procedures
• Non-invasive Procedures

Aesthetic Medicine Procedure Gender Outlook (Revenue, USD Million, 2018 - 2030)

• Male
• Female

Aesthetic Medicine Procedure End-User Outlook (Revenue, USD Million, 2018 - 2030)

• Clinics, Hospitals, and Medical Spas
• Beauty Centers
• Home Care

Aesthetic Medicine Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Market Share Insights

December 2021: Allergen Aesthetics, a part of AbbVie, acquired a medical technology company, Soliton, Inc. This acquisition will strengthen its portfolio of non-invasive body contouring treatments.

September 2020: Allergan Aesthetics, a part of AbbVie and Skinbetter Science, announced the launch of a new educational partnership DREAM: Driving Racial Equity in Aesthetic Medicine initiative. The Dream Initiative™ is committed to advancing the principles of racial and ethnic diversity, inclusion, respect, and understanding in the fields of plastic surgery and dermatology.

Key Companies profiled:

Some of the prominent players in the Aesthetic Medicine market include:

• AbbVie
• Cynosure
• Evolus Inc.
• Revance Galderma
• Lumenis
• Solta Medical
• Syneron Candela
• Alma Laser

Order a free sample PDF of the Aesthetic Medicine Market Intelligence Study, published by Grand View Research.

Pacemakers Market Demand is Boosted by Rising Prevalence of Cardiovascular Diseases (CVD)

Pacemakers Industry Overview

The global pacemakers market size was valued at USD 4.4 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 3.4% from 2022 to 2030. Rising incidences of CVDs, increasing cost of cardiac disease management, favorable government policies, and the launch of technologically advanced pacemakers such as the MRI safe pacemakers and leadless pacemakers are chiefly driving the growth in the market. The rising burden of cardiovascular diseases is one of the key factors for the growth of the market. Coronary heart disorder is one of the primary reasons for CVD deaths globally. The economic burden of these diseases is anticipated to be more than USD 1,044 billion by 2030, which highlights the great need for cardiac pacing devices.

The novel coronavirus had severely affected patients suffering from cardiovascular disease. The spread of COVID-19 had triggered a humongous economic impact on the healthcare and medical device industry. As per the American Heart Association, Circulation Journal, 2020, so far COVID-19 had affected 185 countries and more than 30,00,000 patients globally. Among patients with COVID-19, there is a high prevalence of CVD. Increasing demand to improve patient outcomes for various pacemaker implantations, with improved and minimally invasive procedures is the key factor driving the growth of the pacemaker market. Moreover, favorable reimbursement procedures, such as the Medicare system in the U.S. and NHS in the U.K. are among the key factors boosting the market.

Gather more insights about the market drivers, restraints, and growth of the Global Pacemakers market

Medical device companies such as Boston Scientific Corporation and Medtronic are now offering new products that are covered under reimbursement packages, which benefit patients. Furthermore, organizations are more fixated on manufacturing high-end pacemakers catering to customized care. These innovations are enhancing accuracy, providing additional capabilities to enhance the workflow, and facilitating error reduction. For instance, in May 2020, the home monitoring system by BIOTRONIK offered a cost-effective and safe remote management of pacemaker patients at the Large Multi-Center Study. This is a significant move for routine remote follow-ups amidst COVID-19.

Browse through Grand View Research's Medical Devices Industry Research Reports.

Cardiac Rhythm Management Devices Market - The global cardiac rhythm management devices market size was valued at USD 18.1 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030.

Arrhythmia Monitoring Devices Market - The global arrhythmia monitoring devices market size was valued at USD 4.98 billion in 2017. It is projected to expand at a CAGR of 6.8% during the forecast period.

Pacemakers Market Segmentation 

Grand View Research has segmented the global pacemakers market on the basis of product, type, application, end-use, and region:

Pacemakers Product Outlook (Revenue, USD Million, 2017 - 2030)

• Implantable pacemakers
• External pacemakers

Pacemakers Type Outlook (Revenue, USD Million, 2017 - 2030)

• MRI Compatible Pacemakers
• Conventional Pacemakers

Pacemakers Application Outlook (Revenue, USD Million, 2017 - 2030)

• Arrhythmias
• Congestive Heart Failure
• Others

Pacemakers End-use (Revenue, USD Million, 2017 - 2030)

• Hospitals & Cardiac Centers
• Ambulatory Surgical Centers
• Others

Pacemakers Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Market Share Insights

June 2021: Medtronic launched the Micra AV, a self-contained, miniaturized pacemaker for delivering advanced pacing technology for atrioventricular (AV) block patients through a minimally invasive approach.

Key Companies profiled:

Some of the prominent players in the Pacemakers market include:

• OSYPKA MEDICAL 
• Boston Scientific Corporation
• Zoll Medical Corporation, an Asahi Kasei Group Company
• Medtronic
• BIOTRONIK SE & Co. KG
• MicroPort Scientific Corporation
• MEDICO S.R.L.
• Shree Pacetronix Ltd.
• Abbott
• OSCOR Inc
• Lepu Medical Technology(Beijing)Co.,Ltd.

Order a free sample PDF of the Pacemakers Market Intelligence Study, published by Grand View Research.

Active Pharmaceutical Ingredients Market Trends Analysis Report by Type of Manufacturer, 2030

Active Pharmaceutical Ingredients Industry Overview

The global active pharmaceutical ingredients market size was valued at USD 222.4 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.90% from 2023 to 2030. The growth can be attributed to the advancements in active pharmaceutical ingredient (API) manufacturing and the rising prevalence of chronic diseases, such as cardiovascular diseases and cancer. Favorable government policies for API production, along with changes in geopolitical situations, are boosting market growth. The API market is undergoing immense changes due to supply chain disruption by COVID-19. Countries such as India are being preferred over China for the export of API owing to geopolitical situations and the demand to reduce dependence on China for API products. Furthermore, governments of many countries have formulated plans and granted incentives to promote the production of API.

The COVID-19 pandemic had a positive impact on the global APIs market. The pharmaceutical industry was an epicenter in treating symptoms related to COVID-19, including high fever, cough, and cold. Due to the increased popularity of the pharma industry during the pandemic, the active pharmaceutical ingredients market also witnessed growth during the period. Following the World Health Organization's declaration of the COVID-19 outbreak as a pandemic, a diverse group of renowned pharmaceutical and biopharmaceutical companies, as well as new startups, stepped forward to create therapies to combat the virus.

Gather more insights about the market drivers, restraints, and growth of the Global Active Pharmaceutical Ingredients market

Scientists discovered a list of compounds that target COVID-19. Currently, there are approximately 155 compounds in clinical trials and 45 molecules in preclinical development to combat COVID-19. Four vaccines have been repurposed for treatment against COVID-19, including Chloroquine, Hydroxychloroquine, Lopinavir & Ritonavir, and Remdesivir. In March 2020, WHO started a worldwide trial of the four COVID-19 medicines. Increased investment and research and development in pharmaceutical products will propel the growth of the market further. However, the coronavirus outbreak has caused global business and economic disruption. It is expected to have a short-term impact on the active pharmaceutical ingredients industry in the first quarter of 2020.

The global geriatric population is rising. According to the UN, in 2018, the population aged 65 and above is anticipated to increase from 962 million in 2018 to 2.1 billion by 2050. Aging weakens the immune system and increases a patient’s susceptibility to acquiring infectious diseases. Moreover, impairment in body functions enhances the chances of getting other diseases, such as CVD and diabetes.

Browse through Grand View Research's Medical Devices Industry Research Reports.

Immunotherapy Drugs Market - The global immunotherapy drugs market size was valued at USD 110.55 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.92% from 2022 to 2030.

Diagnostic Enzymes Market - The global diagnostic enzymes market size was estimated at USD 4.92 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.97% by 2030.

Active Pharmaceutical Ingredients Market Segmentation 

Grand View Research has segmented the global active pharmaceutical Ingredients market based on the type of synthesis, type of manufacturer, type, application, type of drug and region:

Active Pharmaceutical Ingredients Type of Synthesis Outlook (Revenue, USD Billion, 2018 - 2030)

• Biotech
• Synthetic

Active Pharmaceutical Ingredients Type of Manufacturer Outlook (Revenue, USD Billion, 2018 - 2030)

• Captive APIs
• Merchant APIs

Active Pharmaceutical Ingredients Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Generic APIs
• Innovative APIs

Active Pharmaceutical Ingredients Type of Drug (Revenue, USD Billion, 2018 - 2030)

• Prescription Drugs
• Over-the-counter Drugs

Active Pharmaceutical Ingredients Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Cardiovascular Diseases
• Oncology
• CNS and Neurology
• Orthopedic
• Endocrinology
• Pulmonology
• Gastroenterology
• Nephrology
• Ophthalmology
• Others

Active Pharmaceutical Ingredients Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Market Share Insights

August 2021: Teva Pharmaceutical and MEDinCell received approval from the U.S FDA for a new drug application to treat schizophrenia. Moreover, legal issues are slowing down the establishment of new API facilities.

Key Companies profiled:

Some of the prominent players in the Active Pharmaceutical Ingredients market include:

• Merck & Co., Inc.
• AbbVie, Inc.
• Bristol-Myers Squibb Company
• Boehringer Ingelheim International GmbH
• Cipla, Inc.
• Teva Pharmaceutical Industries Ltd.
• Albemarle Corporation
• Viatris Inc.
• Aurobindo Pharma
• Sun Pharmaceutical Industries Ltd.
• Dr. Reddy’s Laboratories Ltd.

Order a free sample PDF of the Active Pharmaceutical Ingredients Market Intelligence Study, published by Grand View Research.

Skincare Devices Market Top Players are Solta Medical, Inc., 3Gen, and C

Skincare Devices Industry Overview

The global skincare devices market size was valued at USD 12.5 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 11.9% from 2022 to 2030. The increasing prevalence of skin cancer and other skin diseases is contributing largely to the high demand for skincare devices. Furthermore, growing awareness among people about the esthetic appeal and technological advancements in skincare devices are also increasing the adoption of these devices significantly. The rise in disposable income is also considered as one of the important factors driving the market.

The prevalence of melanoma and non-melanoma skin cancers is rising significantly. According to The Skin Cancer Foundation, around 10,130 people die due to melanoma every year in the U.S. Furthermore, American Cancer Society 2018 statistics stated that in the U.S., around 91,270 new melanoma cases are expected to be diagnosed in that year. Meanwhile, the American Academy of Dermatology (AAD) estimated that 1 in 3 Americans visit dermatologists, and 1 in every 4 are affected with skin disease every year. Hence, there is a growing need for rapid diagnosis of skin disorders.

Gather more insights about the market drivers, restraints, and growth of the Global Skincare Devices market

The COVID-19 pandemic had significantly affected the market for skincare devices. Initially, the lockdown and supply chain disruption had negatively affected the market. Short-term negative growth was observed in the market due to almost entirely suspension of non-COVID-19 related surgeries, limited operations of manufacturing, and disruption in the supply chain. However, the market for dermatological devices has seen a V shape recovery. With the successful rollout of vaccines in all regions, the volume of dermatological devices is beginning to recover to its pre-pandemic levels. In 2021, the market has witnessed high demand due to the backlog of 2020 and increased interest from people related to dermatological procedures.

The market has witnessed high volatility during the past few months and is expected to return to its normal growth trend by 2023. The market for skincare devices is developing rapidly due to growing esthetic awareness. In the current scenario, people of all age groups are increasingly concerned about enhancing their esthetic appeal. Complete skin rejuvenation improves the esthetic appeal of a person. There has been a latent shift from using conventional products to technologically advanced equipment, which aids in better diagnosis and treatment of various skin diseases as well as improve one’s esthetic appeal. The introduction of technologically advanced noninvasive laser therapies has led to the high demand for skincare devices.

Browse through Grand View Research's Medical Devices Industry Research Reports.

Dermatoscope Market - The global dermatoscope market size was valued at USD 816.0 million in 2022. It is likely to witness lucrative expansion at a compound annual growth rate (CAGR) of 12.1% from 2023 to 2030.

Liposuction Surgery Devices Market - The global liposuction surgery devices market size was valued at USD 272.08 million in 2021 and is expected to expand at a CAGR of 13.0% from 2022 to 2030.

Skincare Devices Market Segmentation 

Grand View Research has segmented the skincare devices market on the basis of product, application, end-use, and region:

Skincare Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostic Devices
• Treatment Devices

Skincare Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostic Devices
• Treatment Devices

Skincare Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Clinics
• Others

Skincare Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Market Share Insights

November 2021: Lancer Skincare the premier Beverly Hills-based international skincare brand teamed up with the tech startup ByondXR to launch The Virtual Lancer Dermatology Shop. Lancer Skincare's new virtual store will provide customers with the in-home benefits of a Lancer dermatology practice through a curated, digital experience that moves across the newly growing digitized world.

Key Companies profiled:

Some of the prominent players in the Skincare Devices market include:

• Alma Lasers GmbH
• Cynosure, Inc.
• Solta Medical, Inc.
• Cutera, Inc.
• Syneron Medical Ltd.
• Canfield Scientific, Inc.
• 3Gen
• Aesthetic Group
• Ambicare Health
• Image Derm, Inc.
• Fotona

Order a free sample PDF of the Skincare Devices Market Intelligence Study, published by Grand View Research.