Blockchain Technology in Healthcare Market Top Players are iSolve, LLC, Solve.Care, and Oracle

Blockchain Technology in Healthcare Industry Overview

The global blockchain technology in the healthcare market size was valued at USD 1.19 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 68.1% from 2022 to 2030. The increasing incidence of information leaks and data breaches, coupled with the rising requirement to curb these issues, are attributed to the market growth. Strategic initiatives by the key players, high demand to reduce drug counterfeiting, and the need for efficient health data management systems are the major factors leading to the adoption of the technology.

In October 2021, MDS Mexico, for instance, launched a blockchain technology based COVID-19 testing service to ensure the authenticity of vaccination certificates. The COVID-19 pandemic boosted the adoption and demand for blockchain solutions in healthcare. Although blockchain continues to be considered an emerging technology, market stakeholders have presented several use cases and proposals to increase awareness and adoption of blockchain to improve health outcomes. 

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Growing disease prevalence is expected to create a huge amount of data, boosting demand for data management. Moreover, leveraging blockchain technology in healthcare records will ensure that the data cannot be altered to ensure data integrity. Rising investment by major market players in this technology is further leading to market growth. For instance, in March 2018, IBM launched a low-cost platform especially for startups, to build any blockchain projects. Such initiatives are likely to encourage innovations and new healthcare organizations to adopt the technology, fostering market growth.

Synaptic Health Alliance is a partnership of leading healthcare companies focused on advancing data sharing between providers. The alliance consists of established healthcare companies such as Humana, Quest Diagnostics, and Optum. Synaptic believes blockchain has the potential to increase efficiency and lower costs in many areas within healthcare.

HMS Holdings has also stated that there is a place for blockchain in its business. The company has spoken with providers of supporting technology from many large technology companies to achieve this goal. Cerner, Allscripts, and athenahealth have also demonstrated interest in the area. Blockchain has the potential to reshape how healthcare organizations address longstanding issues and this is estimated to fuel the market growth.

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Healthcare Electronic Data Interchange Market - The global healthcare electronic data interchange market size was valued at USD 4.0 billion in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 9.6% from 2022 to 2030.

Healthcare Smart Contracts Market - The global healthcare smart contracts market size was valued at USD 1.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 20.5% from 2022 to 2030.

Blockchain Technology In Healthcare Market Segmentation

Grand View Research has segmented the global blockchain technology in healthcare market on the basis of network type, application, end user, and region:

Blockchain Technology In Healthcare Network Type Outlook (Revenue, USD Million, 2017 - 2030)

• Private
• Public
• Others

Blockchain Technology In Healthcare Application Outlook (Revenue, USD Million, 2017 - 2030)

• Clinical Data Exchange & Interoperability
• Claims Adjudication & Billing
• Supply Chain Management
• Clinical Trials & eConsent
• Others

Blockchain Technology In Healthcare End-user Outlook (Revenue, USD Million, 2017 - 2030)

• Providers
• Payers
• Biopharmaceutical & Medical Device Companies
• Others

Blockchain Technology In Healthcare Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Market Share Insights

October 2021: MDS Mexico, launched a blockchain technology based COVID-19 testing service to ensure the authenticity of vaccination certificates.

January 2021: UnitedHealth Group's Optum announced its decision to acquire Change Healthcare to simplify core administrative, clinical, and payment processes.

Key Companies profiled:

Some of the key players in the blockchain technology in the healthcare market include:  

• IBM
• PATIENTORY INC.
• Guardtime
• iSolve, LLC
• Solve.Care
• Oracle
• Change Healthcare
• BurstIQ
• Medicalchain SA
• Blockpharma 

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Nutritional Supplements Market is expected to expand at a CAGR of 6.3% from 2022 to 2030

Nutritional Supplements Industry Overview

The global nutritional supplements market size is expected to reach USD 358.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030. Increasing awareness regarding health across the globe has markedly helped the market to thrive. In the wake of the pandemic, people are now more aware of the impact of an unhealthy lifestyle. The increasing prevalence of non-communicable diseases (NCDs) has resulted in the wider adoption of nutritional supplementation to augment overall wellbeing. As per the WHO, NCDs are responsible for 41 million deaths each year. During the pandemic, immunity-boosting supplements saw a massive surge in demand, even though there is a lack of evidence that this in any way prevents COVID. The overall health and well-being have become a prime focus.

The increasing demand for immunity-boosting supplements and dietary supplements has created a large market, globally. The COVID-19 pandemic in which an unprecedented number of people, of all age groups, were affected by different ailments and their effects pronounced due to COVID infection. The sales of immunity-boosting supplements and dietary supplements shot up considerably. According to the All India Organization of Chemists and Druggists, the demand for dietary supplements shot up by almost 15 - 20%. Increasing demand for such supplementation products is driving the market.

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

Awareness regarding maintaining a healthy diet to complete nutritional requirements has been gaining a lot of momentum. Governments over the globe, especially in developing nations where malnutrition is highly prevalent, have been taking initiatives to improve the health condition of people. Nutritional supplementation has been key in improving the status of malnutrition in these nations.

Plant-based foods and superfoods are being adopted as a part of living and eating healthier. Companies in the nutritional supplement industry have been focusing on developing a new line of products and creating products that are not just tablets but are in palatable forms like gummies and soft chews with flavors that don’t taste like medicine. Innovative products like vitamin supplements from Frunutta are regular vitamins that dissolve under the tongue and are helpful for people who do not prefer chewing gummies or swallowing pills. Along with this, the formulation eliminates the use of traditional ingredients like added colors, coatings, and preservatives. These new products have the potential to capture the market, in turn helping the growth of the market. 

The COVID-19 pandemic had a positive impact on the overall growth of the market. The increasing awareness among people pertaining to health and well-being, leading healthy lifestyles, and an increase in the incidence of chronic diseases have resulted in an increase in the demand for nutritional supplementation. Even though the market faced hiccups in the form of supply chain disruptions, due to global lockdowns, the demand still soared. The companies that are manufacturing nutritional supplements are increasingly collaborating with e-commerce platforms to widen their global reach and meet the growing demand. All these factors are responsible for the growth of the market.

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Postpartum Health Supplements Market - The global postpartum health supplements market was valued at USD 1.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.1% from 2022 to 2030.

Women’s Health and Beauty Supplements Market - The global women’s health and beauty supplements market size was valued at USD 53.4 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030.

Nutritional Supplements Market Segmentation

Grand View Research has segmented the global nutritional supplements market based on product, consumer group, formulation, application, packaging, composition, gender, sales channel, and region:

Nutritional Supplements Product Outlook (Revenue, USD Million, 2016 - 2030) 

• Sports Nutrition
• Dietary Supplements
• Functional Foods and Beverages

Nutritional Supplements Consumer Group Outlook (Revenue, USD Million, 2016 - 2030) 

• Infants
• Children
• Adults
• Pregnant
• Geriatric

Nutritional Supplements Formulation Outlook (Revenue, USD Million, 2016 - 2030) 

• Tablets
• Capsules
• Powder
• Soft gels
• Liquid
• Others

Nutritional Supplements Application Outlook (Revenue, USD Million, 2016 - 2030) 

• Immune Health
• Eye Health
• Women Health
• Beauty Health
• Brain, Neuro & Mental Health
• Sleep Disorders
• Bone & Joint Health
• Digestive Health
• Urinary & Kidney Health
• Heart Health
• Liver Health
• Weight Management
• Energy
• Others

Nutritional Supplements Packaging Outlook (Revenue, USD Million, 2016 - 2030) 

• Strip/Blister/Alu-Alu Packaging
• Sachet Bags
• Spray
• Bottles/Cans
• Vials
• Jars
• Pillow Pouches 

Nutritional Supplements Composition Outlook (Revenue, USD Million, 2016 - 2030) 

• Single Composition
• Multiple Composition

Nutritional Supplements Gender Outlook (Revenue, USD Million, 2016 - 2030) 

• Male
• Female

Nutritional Supplements Application Outlook (Revenue, USD Million, 2016 - 2030) 

• Brick & Mortar
• E-commerce

Nutritional Supplements Regional Outlook (Revenue, USD Million, 2016 – 2030) 

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

Key Companies profiled:

Some prominent players in the global nutritional supplements market include:

• Amway
• Abbott Nutrition
• Nestle
• Herbalife International of America, Inc.
• Glanbia plc
• PepsiCo
• Cliff Bar & Company
• Science in Sports
• TheHut.com Ltd.,
• Cardiff Sports Nutrition Ltd

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Implantable Cardiac Rhythm Management Device Market is driven by Growing Geriatric Population Base

Implantable Cardiac Rhythm Management Device Industry Overview

The global implantable cardiac rhythm management device market size was valued at USD 17.04 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. The increasing prevalence of cardiac disorders, growing geriatric population base, and technological advancements are the major factors leading to the market growth. Furthermore, supportive legislative regulations, favorable reimbursement policies, and technological advancements are anticipated to drive the market globally over the forecast period.

The COVID-19 pandemic has impacted all industries, including the market for implantable cardiac rhythm management (CRM) devices. Market players have experienced significant losses in their CRM segments due to the postponement of cardiovascular procedures. For instance, Medtronic experienced a 12% decrease in its CRM devices segment in 2020, as compared to 2019. The decline was majorly experienced in ICDs, CRT-Ds, and the pacemakers segment. In 2021, Medtronic is recovering in terms of its annual revenue as well as cardiac rhythm and heart failure segment revenue. The company experienced a rise of 4.16% in its total revenue from 2020 to 2021.

Gather more insights about the market drivers, restraints, and growth of the Global Implantable Cardiac Rhythm Management Device market

According to the Center for Diseases Control and Prevention (CDC), as of February 2022, Cardiovascular diseases (CVDs) are a major cause of mortality in the U.S. One-fourth of all deaths are likely to be caused by CVDs. Stroke and ischemic heart disease are the major causes of more than 80% of all CVD-related deaths. According to a report published by the CDC in 2017, CVDs accounted for about 800,000 lives lost in the U.S. In addition, Coronary Heart Disease (CHD) accounted for the majority of CVD deaths, followed by heart failure and stroke with the economic burden of CVDs likely to be around USD 1,044 billion by 2030.

Favorable reimbursement policies, such as the U.S. Medicare system, are among the major factors driving the implantable cardiac rhythm management device market. For instance, Medicare Physician Fee Schedule Final Rule 2019 is expected to provide reimbursement for implantation and removal of a pacemaker, reducing the overall cost of surgery for the patients. Reimbursement can be availed for devices such as single-chamber, dual-chamber, and biventricular pacemakers.

Increasing demand to enhance patients' lives and improve outcomes of various cardiac procedures with the most advanced and minimally invasive technologies is the major factor fueling the growth of the market for cardiac monitoring and cardiac rhythm management. Moreover, favorable reimbursement policies, such as those introduced by the U.S. Medicare system, are among the major factors driving the market for cardiac monitoring and cardiac rhythm management.

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Pacemakers Market - 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.

Cardiac Rhythm Management Devices Market - The global cardiac rhythm management devices market size was valued at USD 18.8 billion in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 5.50% from 2023 to 2030.

Implantable Cardiac Rhythm Management Devices Market Segmentation

Grand View Research has segmented the global implantable cardiac rhythm management devices market on the basis of product, end use, and region:

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

• Pacemaker
• ICDs
• CRT

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

• Hospitals
• Specialty Cardiac Centers
• Others

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

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Market Share Insights

October 2020: Abbott launched its new ICD and CRT-D in India, hence expanding its product portfolio in the country.

Key Companies profiled:

Some prominent players in the global implantable cardiac rhythm management device market include

• Stryker
• Schiller AG
• Medtronic
• Abbott
• Boston Scientific Corporation
• Koninklijke Philips N.V.
• Zoll Medical Corporation
• BIOTRONIK
• Nihon Kohden Corporation
• Microport Scientific Corporation

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Veterinary Orthopedics Market Major Deals and Strategic Alliances Analysis Report by 2030

Veterinary Orthopedics Industry Overview

The global veterinary orthopedics market size was valued at USD 434.01 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030. Growing pet adoption, pet expenditure, chronic diseases, number of veterinarians, and pet insurance is expected to accelerate the market growth. The 2020 PDSA Animal Wellbeing (PAW) Report stated that about 51% of U.K. citizens owned a pet. In addition, the report pegged U.K.’s dog and cat population at around 10.1 million and 10.9 million, respectively.

The COVID-19 pandemic led to a slowdown in the market due to movement restrictions, reduced veterinary visits, and delayed or canceled elective veterinary orthopedic surgeries. In March 2020, Harmony Veterinary Center in Colorado U.S. suspended all veterinary elective procedures, surgeries, and dentistry. According to the findings of an April 2020 survey by the American Veterinary Medical Association (AVMA), 98% of the respondent veterinary practitioners reported limiting client contact due to the outbreak while about two-thirds had deferred at least some surgical procedures.

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The surgery volume across the globe recovered gradually as lockdown protocols were eased in several countries and many public health bodies released guidelines to support the resumption of veterinary surgeries. For instance, the Seven Hills Veterinary Hospital updated its protocols effective June 2021 and reported an increase in the volume of appointments/telephone calls/urgent care and emergency services including surgeries. Thus, although the COVID-19 pandemic led to a reduction in elective surgeries, the number is expected to bounce back in the coming years.

According to Banfield Pet Hospital’s 2020 report on Veterinary Emerging Topics, pet obesity in the U.S. has become an epidemic. Of the 1.9 million adult dogs examined at the hospital, 51% were reported to be overweight. Banfield Pet Hospital has observed this upward trend in pet obesity since 2007. The hospital reports that every 1 out of 3 cats and dogs were overweight. Obesity leads to comorbid conditions, such as osteoarthritis, which often require surgical interventions. For instance, as per Banfield Pet Hospital in 2017, arthritis/DJD, ligament/tendon conditions, and hip/pelvis conditions were the most common osteoarthritis conditions affecting dogs and cats. This led to an increase in orthopedic surgeries in canine pets.

According to the North American Pet Health Insurance Association (NAPHIA), there was a 21% increase in the pet health insurance sector in the region in 2019. NAPHIA reported continued growth in its sector even in 2020, despite some COVID-related challenges. All these factors are expected to continue fueling the regional growth over the forecast period. According to the 2019 Chinese Pet Industry report by Pet Fair Asia, urban Chinese were estimated to have spent about USD 28.8 billion on their pets (mainly cats and dogs). China’s pet insurance market, although in its early stages, is expected to grow significantly, thus making pet care and treatments affordable in the future. All these factors are anticipated to drive the Chinese market for veterinary orthopedics.

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Veterinary Electrosurgery Market - The global veterinary electrosurgery market size was valued at USD 501.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.9% from 2022 to 2030.

Veterinary Hospitals Market - The global veterinary hospitals market size was valued at USD 76.16 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2030.

Veterinary Orthopedics Market Segmentation

Grand View Research has segmented the global veterinary orthopedics market based on application, product, end use, and region:

Veterinary Orthopedics Application Outlook (Revenue, USD Million, 2017 - 2030)

• Total Knee Replacement
• Total Hip Replacement
• Total Elbow Replacement
• Trauma Fixation
• TPLO
• TTA
• Lateral Fixation
• Others

Veterinary Orthopedics Product Outlook (Revenue, USD Million, 2017 - 2030)

• Instruments
• Implants

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

• Hospitals & Clinics
• Others

Veterinary Orthopedics Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Key Companies profiled:

Some prominent players in the global veterinary orthopedics market include:

• B. Braun Melsungen AG
• Narang Medical Limited
• STERIS
• Arthrex, Inc.
• Integra LifeSciences Corporation
• Movora
• Johnson & Johnson (Depuy Synthes Vet)
• AmerisourceBergen
• Surgical Holdings Veterinary
• GerVetUSA

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U.S. Medical Coding Market is anticipated to register a CAGR of 8.0% from 2022 to 2030

U.S. Medical Coding Industry Overview

The U.S. medical coding market size was valued at USD 17.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030. Errors in billings, insurance fraudand misinterpretations of medical documents result in large losses. Healthcare fraud results in USD 68 billion each year in the U.S. Increasing losses due to ineffective medical billing and revenue cycle management is increasing demand for revenue cycle management including medical coding software and services. This in turn is estimated to drive the market growth.

High adoption of digital technologies such as electronic health records, revenue cycle management software, mhealth applications, telehealth, and increasing efforts towards digitalization of healthcare in the U.S. is positively driving the market growth. 85.9% of the physicians’ offices were using electronic health records in the U.S., as per the data provided by the Centers for Disease Control and Prevention. Additionally, the impact of social media on healthcare is significantly growing. For instance, according to Binary Foundation, 51% of Americans were looking for providers on social media in 2019. Social media is used for seeking feedback, managing appointments, health promotion campaigns, awareness of product recalls, patient education, and recruitment. There is increasing utilization of medical coding in the revenue cycle management process. New revisions are included in the codes to increase flexibility and scalability. 

Gather more insights about the market drivers, restraints, and growth of the U.S. Medical Coding market

New ICD 11 was implemented in January 2022. It has several new chapters and supports electronic health records. It has approximately 55 thousand codes for the classification of disorders, diseases, injuries, and deaths. Moreover, many new codes were created during the COVID-19 pandemic for COVID-19 and telehealth. The World Health Organization (WHO) introduced new ICD 10 codes which were taken into effect between April and September 2020. Thus, the introduction and revisions of codes are positively impacting the market growth. 

The Bureau of Labor Bureau of Labor Statistics, Office of Occupational Statistics and Employment Projections, estimated that medical records and health information employees are estimated to grow by 9% between 2020 and 2030. Certified medical coders are one of the major sought-after jobs in the U.S., according to an article published by Randstad, a staffing firm. The increasing demand for universal language in medical documentation is positively impacting the demand for medical coders and the coding industry.

The increasing workload on healthcare staff and physicians for medical coding are increasing the adoption of various automation solutions. For instance, according to a survey conducted by Athena health, physicians are working overtime for an average of 90 minutes for coding. There is an increase in the adoption of computer-assisted coding solutions for rapid, accurate, and efficient medical coding. Computer-assisted coding can increase productivity by 30%, as per a survey conducted by 3M. Furthermore, the development of artificial intelligence-assisted medical coding is estimated to drive the growth of U.S. medical coding.

Healthcare spending in the U.S. is rapidly growing. Moreover, hospital administration costs are the highest in the U.S. Healthcare organizations are facing increasing pressure to provide quality care at reduced costs. Thus, healthcare providers are adopting medical coding software and outsourcing services to reduce administration costs and increase return on investment. This in turn is estimated to drive the market growth.

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Revenue Cycle Management Market - The global revenue cycle management market size was valued at USD 243.1 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 11.6% from 2022 to 2030.

Electronic Health Records Market - The global electronic health records market size was estimated at USD 27.2 billion in 2021 and it is anticipated to expand at a CAGR of 4.0% from 2022 to 2030.

U.S. Medical Coding Market Segmentation

Grand View Research has segmented the U.S. medical coding market based on classification system and component:

U.S. Medical Coding Classification System Outlook (Revenue, USD Million, 2017 - 2030)

• ICD
• HCPCS
• CPT

U.S. Medical Coding Component Outlook (Revenue, USD Million, 2017 - 2030)

• In-house
• Outsourced

Market Share Insights

March 2021: Athenahealth, a provider of software and services to healthcare organizations has announced the launch of athenaOne, a medical coding solution. The platforms provide complete support for medical coding and relieve the burden on hospital staff.

Key Companies profiled:

Some prominent players in the U.S. medical coding market include:

• STARTEK Health
• Maxim Health Information Services
• Oracle Corporation
• Verisk Analytics
• Aviacode, Inc.
• Precyse Solutions, LLC.
• Parexel International Corporation
• Medical Record Associates LLC

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Antibody Drug Conjugate Market Key Players are AstraZeneca and F. Hoffmann-La Roche Ltd.

Antibody Drug Conjugate Industry Overview

The global antibody drug conjugates market size was valued at USD 5.81 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.4% from 2022 to 2030. The market is primarily driven by globally rising incidences of cancer. According to Cancer Research UK estimates the number of new cancer cases worldwide is expected to reach 27.5 million by 2040. Factors such as smoking, unhealthy diet, obesity, and alcohol are the major cause of rising cancer cases, worldwide. The COVID-19 pandemic had a negative impact on the product sale due to the loss of health insurance coverage, decrease in hospital visits, and lower diagnosis rates. The unavailability of participants for clinical trial studies led to a delay in the potential approval of ADCs such as Adcetris for other indications.

Increasing investment in this field by the key players such as Piramal Pharma Solution, Pfizer Inc., Seagen Inc., and F. Hoffman La-Roche Ltd for the development of new ADCs intended for the treatment of cancer is expected to drive the market growth. For instance, in February 2022, CDMO Piramal Pharma Solutions (PPS) invested about USD 74.6 million in the development of two new antibody-drug conjugates (ADC) production facilities at its existing sites in Grange mouth, Scotland to fulfill the growing demand for commercial ADCs in UK. This investment strengthens PPS’ position in the market, significantly, by increasing ADC manufacturing capacity.

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Most of the companies are conducting clinical trials to bring new products to the market and to gain label expansion for their already approved products. For instance, in January 2022, Seagen initiated phase-1 clinical trials of two novel antibody-drug conjugates such as SGN-B7H4V & SGN-PDL1V in patients with advanced solid tumors. In addition, the company in collaboration with Astellas completed enrollment of the patients for cohort K EV-103 trial used for the treatment of First-Line Metastatic Urothelial Cancer (mUC). Successful completion of the clinical trial study and subsequent approval of the products is expected to drive market growth. 

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Peptide Drug Conjugates Market - The global peptide drug conjugates market size was valued at USD 596.27 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.58% from 2022 to 2030.

Antibody Fragments Market - The global antibody fragments market size was valued at USD 7.14 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030.

Antibody Drug conjugates Market Segmentation

Grand View Research has segmented the global antibody-drug conjugates market based on the application, technology, and region:

ADCs Application Outlook (Revenue, USD Million; 2017 - 2030)

• Blood Cancer
• Breast Cancer
• Urothelial Cancer & Bladder Cancer
• Other Cancer

ADCs Technology Outlook (Revenue, USD Million; 2017 - 2030)

• Type
• Linker Type
• Payload Type

ADCs Regional Outlook (Revenue, USD Million; 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Market Share Insights

September 2021: The U.S. FDA approved Tidvak for the treatment of adult patients with metastatic or recurrent cervical cancer.

May 2021: Japan’s MHLW granted priority review to Astellas’s enfortumab vedotin for the treatment of metastatic or locally advanced urothelial cancer.

Key Companies profiled:

Some of the prominent players in the global antibody drug conjugates market include:

• Seagen, Inc.
• Takeda Pharmaceutical Company Limited
• AstraZeneca
• F. Hoffmann-La Roche Ltd.
• Pfizer, Inc.
• Gilead Sciences, Inc.
• Daiichi Sankyo Company Limited
• GlaxoSmithKline plc
• Astellas Pharma, Inc.
• ADC Therapeutics SA

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

Indian Clinical Trials Market to Grow Speedily due to Adoption of New Technology in Clinical Research, 2030

Indian Clinical Trials Industry Overview

The Indian clinical trials market size was valued at USD 1.93 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2022 to 2030. The globalization of clinical trials, adoption of new technology in clinical research, growing disease variation and prevalence, and increasing research and development promoting outsourcing are the key factors estimated to drive the market.

The government in this country is taking active initiatives to improve the R&D activities, which is expected to promote the growth of the market. Apart from this, in October 2021, the Department of Pharmaceuticals (India) proposed a new policy to reduce the time required for the approval of innovative products by at least 50% within the next two years, to improve the R&D activities in the country. Such initiatives are anticipated to further propel the growth of the market.

Gather more insights about the market drivers, restraints, and growth of the Indian Clinical Trials market

The digitalization of clinical trials is expected to have a positive impact on market growth. Digitalization has enabled streamlining of several trial processes such as data capture, regulatory compliance, logistics and supplies management, and others. Furthermore, with the introduction of digital therapeutics, real-time data acquisition related to safety and toxicity is becoming increasingly easy, thereby promoting timely rectification in trial design and facilitating market growth. The cost of clinical trials in India is nearly half of that incurred in the U.S. and Europe. Thus, the cost efficiency and a large treatment-naïve patient pool offered by the county are anticipated to drive the market.

The outbreak of the COVID-19 pandemic has created a catastrophic situation across the world and India faced no different scenario. The initial period of the pandemic has created a halt in research and development activities across the country due to factors such as disruption in the supply chain and the shutdown of manufacturing plants for a certain timeframe, thereby creating obstacles in the path of clinical research being conducted. Moreover, the implemented lockdown has created a reduction in the number of patient trials conducted across the country.

However, the COVID-19 pandemic had created an urgent need for treatments and vaccines, owing to which a significant number of clinical trials were performed in the country post-2021, thus reflecting a rebound in the total number of trials conducted across India. For instance, in November 2021, U.S.-based Akston Biosciences announced that it is about to start the clinical trial for its second-generation COVID-19 vaccine ‘AKS-452’ in India. Similarly, in April 2021, the Ministry of Ayush and Council of Scientific & Industrial Research in India announced that it completed a multi-center clinical trial of AYUSH 64 drug used for the treatment of mild-to-moderate COVID-19 infections in the country. The rise in the number of clinical trials for COVID-19 post-2020 is likely to have a positive impact on the market growth from 2021. 

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Rare Disease Clinical Trials Market - The global rare disease clinical trials market size was valued at USD 11,455.0 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2023 to 2030.  

Neurology Clinical Trials Market - The global neurology clinical trials market size was valued at USD 5,235.8 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030.

Indian Clinical Trials Market Segmentation

Grand View Research has segmented the Indian clinical trials market on the basis of phase, study design, indication and end user: 

Indian Clinical Trials Phase Outlook (Revenue, USD Million, 2018 - 2030)

• Phase I
• Phase II
• Phase III
• Phase IV

Indian Clinical Trials Study Design Outlook (Revenue, USD Million, 2018 - 2030)

• Interventional Trails
• Observational Trails
• Expanded Access Trails

Indian Clinical Trials Indication Outlook (Revenue, USD Million, 2018 - 2030)

• Autoimmune/Inflammation
• Pain Management
• Oncology
• CNS Condition
• Diabetes
• Obesity
• Cardiovascular
• Others

India Clinical Trials End User Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmaceutical & Biopharmaceutical Companies
• Medical Device Companies
• Others

Market Share Insights

December 2021: Aragen Life Sciences, an India-based CRO, acquired Intox Pvt. Ltd. in Maharashtra, India to expand Aragen’s end-to-end integrated discovery and development platform for biotechnology, pharmaceuticals, and other industries.

February 2020: India-based clinical stage company, Aurigene collaborated with a biotechnology companyCuris, Inc. As per the terms of the collaboration, Aurigene provided funding for conducting Phase 2b/3 randomized study on evaluating the effect of CA-170 in patients with non-squamous non-small cell lung cancer (nsNSCLC).

Key Companies profiled:

Some prominent players in the Indian clinical trials market include:

• IQVIA HOLDINGS INC.
• PAREXEL International Corporation
• Pharmaceutical Product Development (PPD) LLC
• Charles River Laboratory
• ICON PLC
• PRA Health Inc.
• Chiltern International LTD.
• Syneos Health Inc.
• SGS SA
• Syngene International Limited
• Aurigene Discovery Technologies Limited
• Aragen Life Sciences
• Abiogenesis Clinpharm Pvt Ltd
• Accelsiors
• Accutest Global.
• Clario
• Cliantha Research
• Cliniminds
• CliniRx
• JSS Medical Research

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The Rising Importance of Big Data in Healthcare drives Artificial Intelligence in Healthcare Market Growth by 2030

Artificial Intelligence in Healthcare Industry Overview

The global artificial intelligence in healthcare market size was valued at USD 15.4 billion in 2022 is expected to expand at a compound annual growth rate (CAGR) of 37.5% from 2023 to 2030. The growing datasets of patient health-related digital information, increasing demand for personalized medicine, and the rising demand for reducing care expenses are some of the major driving forces of the market growth. The growing global geriatric population, changing lifestyles, rising prevalence of chronic diseases has contributed to the surge in demand for diagnosing and improved understanding of diseases in their initial stages. Artificial Intelligence (AI) and machine learning (ML) algorithms are being widely adopted and integrated into healthcare systems to accurately predict diseases in their early stage based on historical health datasets.

Furthermore, deep learning technologies, predictive analytics, content analytics, and Natural Language Processing (NLP) tools are enabling care professionals to diagnose patients’ underlying health conditions at an earlier stage. The Covid-19 pandemic positively influenced the demand for AI technologies and unearthed the potential held by these advanced technologies. Healthcare systems widely adopted these technologies in the rapid diagnosis and detection of different virus strains and utilized personalized information in improving the management of the outbreak. AI/ML algorithms were utilized in the diagnosis sector wherein these technologically driven modules were trained with datasets of chest CT images, symptoms, pathological findings, and exposure history to diagnose Covid-19 positive patients rapidly and accurately.

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Moreover, the growing shortage of healthcare workforce drove the adoption of AI/ML technologies. Therefore, AI algorithms can be trained to analyze patient health information which further supports care providers in quickly diagnosing the condition and devising an accurate treatment regime. Supportive government initiatives, the rising number of mergers and acquisitions and technological collaborations, and the ongoing Covid-19 pandemic had a significant role in boosting the growth of the market and accelerating the adoption rate of AI in healthcare. AI/ML algorithms are being widely implemented in rapid and accurate diagnosis of medical conditions after the initial implementation in the detection of Covid-19 positive patients using personalized patient information and data consolidation.

As per an NCBI study in 2020, AI-based algorithms accurately detected 68% of COVID-19 positive cases in a dataset of twenty-five patients which were diagnosed as negative cases by care professionals. The implementation of AI/ML technologies in enhancing patient care, reducing machine downtime, and minimizing care expenses are some of the driving forces of artificial intelligence (AI) in healthcare market growth. Owing to the Covid-19 pandemic, AI-based technologies witnessed a significant boost in adoption and are set to experience a dramatic growth trajectory. Healthcare functions such as diagnostics, patient management, medication management, claims management, workflow management, integration of machines, and cybersecurity saw a remarkable surge in the integration of AI/ML technologies.

The growing penetration of AI technologies in healthcare applications led to key market participants focusing on product innovation and technological collaborations to expand their product portfolio and meet the growing demands during the pandemic. For instance, in May 2020, MIT-IBM Watson AI Lab promoted the implementation of AI technologies in research projects studying the health and economic consequences of the pandemic. Similarly, Qventus introduced AI-based patient flow automation systems covering critical resource control, hospitalization duration optimization, Covid-19 scenario planner, and ICU capacity creation in its healthcare facilities.

Key market players are focusing on devising innovative product development strategies, partnership strategies, and mergers and acquisitions to expand their business footprint to cater to the growing demand for early and accurate detection of diseases, curb rising care expenses, compensate for the growing shortage of care providers, and deliver value-based care. For instance, in 2020 Aidoc and Imbio partnered to integrate AI technologies in medical image analysis for pulmonary embolism to improve detection and treatment regimes. Furthermore, the growing number of startups specializing in AI-based technologies for the healthcare sector is witnessing recognition in the form of investments by private investors and venture capitalists. For instance, in 2019, Partners Healthcare collaborated with FUJIFILM Sonosite to develop AI-based ultrasound technology, improve the accessibility of this technology for the healthcare fraternity, and improve the quality of diagnostic care.

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AI In Oncology For Analytical Solutions Market - The global AI in oncology for analytical solutions market size was valued at USD 612.3 million in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 35.5% from 2023 to 2030.

AI In Genomics Market - The global AI in genomics market size was valued at USD 497.9 million in 2022 and is expected to expand at a CAGR of 46.0% over the forecast period from 2023 to 2030.

Artificial Intelligence In Healthcare Market Segmentation

Grand View Research, Inc. has segmented the artificial intelligence in healthcare market report on the basis of component, application, and region:

Artificial Intelligence In Healthcare Component Outlook (Revenue, USD Million, 2016 - 2030)

• Software Solutions
• Hardware
• Services

Artificial Intelligence In Healthcare Application Outlook (Revenue, USD Million, 2016 - 2030)

• Robot-Assisted Surgery
• Virtual Assistants
• Administrative Workflow Assistants
• Connected Machines
• Diagnosis
• Clinical Trials
• Fraud Detection
• Cybersecurity
• Dosage Error Reduction

Artificial Intelligence In Healthcare Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Market Share Insights

September 2019: GE Healthcare partnered with five Chinese local software developers namely, 12Sigma Technologies, Biomind, Shukun Technology, Yizhun Medial AI, and YITU Technology to collaboratively work on developing Edison AI platform and support the smooth digital transformation of GE Healthcare.

Key Companies profiled:

Some of the prominent players in the artificial intelligence in healthcare market include:

• Nuance Communications, Inc.
• IBM Corporation
• Microsoft
• NVIDIA Corporation
• Intel Corporation
• DeepMind Technologies Limited

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Medical Device Complaint Management Market Top Players are IQVIA, Biovia, Wipro, and AssurX

Medical Device Complaint Management Industry Overview

The global medical device complaint management market size was valued at USD 6.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030. The growing adoption of digitalization in all phases and functionalities of the healthcare industry is promoting the market growth. Rapidly transforming systems from paper-based to digital solutions in managing complaints are supporting the market growth. The rising number of public and private partnerships and favorable government initiatives are boosting the adoption rates of automated, digital systems in complaint management processes.

The implementation of these automated software solutions supports enhanced documentation. By using a multi-page electronic form, complaint data and information are accurately and precisely captured and are reorganized by the software solution into a three-step program that comprises complaint processing, investigation, and resolution. Every step of this program is computerized and precisely documented. Furthermore, the complaint management system offers advanced analytical solutions incorporated with reporting tools, which could be used in augmented management oversight providing required transparency that enhances the decision-making processes.

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Key participants are constantly focusing on devising innovative product development strategies to gain a competitive edge and cater to the growing demand in the market. For example, key players are developing innovative mobile application solutions to enhance customer complaints management. For instance, Intellect offers an integrated mobile application platform allowing customers to register complaints, escalate ticks, and generate queries. The Intellect mobile application is easily available on the App Store and the Google Play Store and can be downloaded as an Intellect application or a custom branded mobile application.

Favorable government initiatives are boosting the growth of the complaint management market. For instance, the U.S. FDA encourages patients, healthcare professionals, care providers, and consumers to voluntarily submit reports of product defects and/or adverse events to MedWatch, which is the U.S. FDA’s Safety Information and Adverse Event Reporting Program, or then by using MedWatcher, the mobile application. Moreover, adverse event reporting witnessed a surge in the number owing to the launch of the MedWatcher. The MedWatcher application simplifies and accelerates the complaint reporting process by offering customers an easy four-step form, which is to be electronically submitted to the U.S. FDA. Therefore, the development and launch of these innovative mobile applications in complaint management are expected to fuel the market growth.

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Healthcare Consulting Services Market - The global healthcare consulting services market size was valued at USD 13.7 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 8.3% from 2023 to 2030.

Biotechnology & Pharmaceutical Services Outsourcing Market - The global biotechnology and pharmaceutical services outsourcing market size was valued at USD 66.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2030.

Medical Device Complaint Management Market Segmentation

Grand View Research, has segmented the global medical device complaint management market on the basis of service type and region:

Medical Device Complaint Management Service Type Outlook (Revenue, USD Million, 2016 - 2030)

• Complaints Log / Intake
• Product Surveillance & Regulatory Compliance
• Returned/ Non-Returned Product Analysis
• Resolve & Closure

Medical Device Complaint Management Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Key Companies profiled:

Some prominent players in the global medical device complaint management market include:

• IQVIA
• Wipro
• Tata Consultancy Services (TCS)
• MasterControl
• Biovia
• Freyr
• Sparta Systems
• SAS
• AssurX
• Parexel International Corporation

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Amniotic Membrane Market growth is driven by Rise in the Number of Accident and Trauma Cases

Amniotic Membrane Industry Overview

The global amniotic membrane market size was estimated at USD 2.9 billion in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 14.8% during the forecast period. The amnion membrane is majorly used for wound healing owing to its bacteriostatic and pain reduction properties. Increasing awareness in the recent past has led to a rise in the number of transplants leading to increasing demand for these tissue-based products. This awareness has also led to a surge in the number of donations, thus, fueling the market growth. Typically, amniotic membranes are used for indications including reconstruction of the conjunctiva surface, pterygium excisions, surgical wounds, corneal ulcers, pressure and venous leg ulcers, limbal stem cell deficiency, and regenerative medicine among others.

Therefore, factors, such as increasing research in the field of stem cell and regenerative medicine, heavy R&D investments, and a rise in the number of surgeries performed worldwide, are expected to influence the market growth. The COVID-19 pandemic has caused enormous disruption in the supply chain of the overall medical device industry. The pandemic considerably transformed the functioning of healthcare systems. Disruptions across supply and demand chains, production capacities, and sales and revenue cycles were observed resulting in restrictions of economic activity.

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However, major market players are undertaking initiatives to overcome the challenges posed by this pandemic. Initiatives, such as increasing investments, a surge in partnerships and collaborations, and innovative product development strategies, are anticipated to accelerate the market growth over the forecast period. Amniotic membranes are typically used in two categories, as a surgical graft or as a biological bandage for treating and managing wounds. The usage of these membranes facilitates re-epithelization acting as a scaffold when used as a graft.

Its anti-inflammatory and anti-scarring properties are especially vital in case of burn injuries, reducing intensified inflammation and discomfort in patients. Hence, increasing awareness about these benefits is anticipated to propel market growth. Moreover, they are widely used in the treatment of eye surface disorders, such as in the treatment of bacterial keratitis, corneal ulcers, cataract, glaucoma, bullous keratopathy, corneal degeneration, ocular dystrophy, eyelid reconstruction, and various others. The rise in the geriatric population worldwide has spurred the number of ophthalmology surgeries, creating a huge demand for these tissue-based products.

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

Anti-biofilm Wound Dressing Market - The global anti-biofilm wound dressing market was valued at USD 714.7 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.6% from 2023 to 2030.

Hydrogel Dressing Market - The global hydrogel dressing market size was valued at USD 849.23 million in 2021 and is projected to witness a compound annual growth rate (CAGR) of 4.28% from 2022 to 2030.

Amniotic Membrane Market Segmentation

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

Amniotic Membrane Product Outlook (Revenue, USD Million, 2017 - 2030)

• Cryopreserved
• Dehydrated

Amniotic Membrane Application Outlook (Revenue, USD Million, 2017 - 2030)

• Surgical Wounds
• Ophthalmology
• Others

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

• Hospitals
• Ambulatory Surgical Centers (ASCs)
• Specialty Clinics
• Research & Academic Institutes

Amniotic Membrane Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Key Companies profiled:

Some of the key players operating in the global amniotic membrane market are:

• Alliqua BioMedical Inc.
• Amnio Technology, LLC
• Applied Biologics LLC
• Human Regenerative Technologies, LLC
• DermaSciences, Katena Products, Inc.
• MiMedx Group Inc.
• Skye Biologics, Inc.
• Amniox Medical Inc.
• Organogensis, Inc.

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Rising Number of Breast Cancer Cases in the Region drives North America Breast Reconstruction Market by 2030

North America Breast Reconstruction Industry Overview

The North America breast reconstruction market size was valued at USD 206.10 million in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 6.69% from 2022 to 2030. Rising breast cancer patients and an increase in the number of breast reconstruction surgeries are the major factors driving the market. Moreover, the availability of reimbursement policies with respect to breast reconstruction is further boosting the North America breast reconstruction market.

The incidence rate of breast cancer has increased considerably in the past two decades. For instance, as per Cancer.net, from the mid-2000s, invasive breast cancer in women has increased approximately by half a percent every year. Moreover, as per a similar source, it is estimated that 287,850 women in the U.S. are expected to be diagnosed with invasive breast cancer in 2022.

Gather more insights about the market drivers, restraints, and growth of the North America Breast Reconstruction market

Additionally, as per the Canadian Cancer Society, breast cancer is the most common cancer among Canadian women. For instance, according to a similar source, it is estimated that 27,700 Canadian women were expected to be diagnosed with breast cancer. Moreover, 13.0% of the women were expected to die from breast cancer. To minimize the risk of breast cancer, many women opt for mastectomy & lumpectomy procedures; as a result, the demand for breast reconstruction products is anticipated to increase throughout the forecast period. 

The growing adoption of breast reconstruction procedures is another factor responsible to drive the North America breast reconstruction market. For instance, American Society of Plastic Surgeons, the overall breast reconstruction procedures were calculated to be 137,808in 2020, which is 75.0% more than the breast reconstruction surgeries, held in 2000. Thus, the growing demand for breast reconstruction procedures may boost the North America breast reconstruction market, during the forecast period.

The COVID-19 pandemic was anticipated to have a negative impact on the North America breast reconstruction market. This can be attributed to the termination & delay of elective treatments including breast reconstruction. However, as the cases of COVID-19 have reduced, and vaccination has started globally, elective surgery for breast reconstruction is expected to take place. This may push the market growth during the forecast period. Moreover, to cope with the demand, and have a larger patient reach, many companies adopted strategies such as raising awareness campaigns, partnerships, and product approvals.

Besides, some companies opted for clinical trials during the post-pandemic period, which was expected to boost the North America breast reconstruction market growth. For instance, in March 2021, Surgical Innovation Associates initiated a clinical trial under an Investigational Device Exemption from the U.S. FDA, which accessed the durability & effectiveness of their product Dura Sorb. This was expected to drive the company’s market growth. 

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Breast Imaging Market - The global breast imaging market size was valued at USD 4.7 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 8.6% from 2023 to 2030.

Breast Implants Market - The global breast implants market size was valued at USD 2.17 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 7.4% during the forecast period.

North America Breast Reconstruction Market Segmentation

Grand View Research has segmented the North America breast reconstruction market report based on the product, shape, end-use, and region:

North America Breast Reconstruction Product Outlook (Revenue, USD Million, 2018 - 2030)

• Implants
• Tissue Expander
• Acellular Dermal Matrix

North America Breast Reconstruction Shape Outlook (Revenue, USD Million, 2018 - 2030)

• Round Shape
• Anatomical Shape

North America Breast Reconstruction End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Cosmetology Clinics
• Ambulatory Surgical Centers

Market Share Insights

October 2021: Sientra, Inc. and Mission Plasticos launched a nationwide Reshaping Lives: Full Circle program, to provide reconstructive breast surgery for women living in poverty.

April 2021: Sientra, Inc. and the Butterfly Network announced a strategic partnership to improve diagnostic surveillance of breast implant patients. This was expected to help the company to strengthen its safety profile, which was backed by the Platinum20 warranty program.

Key Companies profiled:

Some of the key players in the North America breast reconstruction market include:

• Mentor Medical Systems B.V. (Johnson & Johnson)
• Abbvie (Allergan Inc.)
• Integra Life sciences Corporation
• Sientra, Inc.
• Ideal Implant Incorporated
• Stryker Corporation
• Establishment Labs Holding, Inc. (Motiva USA LLC)
• RTI Surgical
• MTF Biologics
• SIA (Surgical Innovation Associates)
• Tela Bio, Inc.

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Hypertrophic and Keloid Scar Treatment Market witnessing a CAGR of 8.47% by 2030

Hypertrophic and Keloid Scar Treatment Industry Overview

The global hypertrophic and keloid scar treatment market size was valued at USD 6.34 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 8.47% from 2022 to 2030. The increase in the number of road accidents & burn cases, along with technological advancements and growing awareness regarding the availability of aesthetic surgery are major factors boosting the industry adoption over the years. The global increase in the number of road accidents & burn incidence is anticipated to boost the hypertrophic and keloid scar treatment market. For instance, according to Association for Safe International Road Travel, approximately 1.35 million people die in road accidents every year. Moreover, as per a similar source, in the U.S. 4.4 million people get seriously injured. Furthermore, according to the Ministry of Road Transport and Highways, India, a total of 449,002 accidents were recorded in India during the year 2019. Therefore, the global rise in the number of accidents is anticipated to propel the hypertrophic and keloid scar treatment market during the forecast period.

Additionally, as per a study conducted by Value in Health journal, around 12,946 people in Germany were reported with complex burn injuries. Similarly, according to a report by National Fire Protection Association, local fire departments responded to approximately 1.4 million fire incidences in the U.S. Moreover, as per American Burn Association, home fires were reported every year and more than 450,000 serious burn injuries are recorded in the U.S. alone.

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Moreover, according to WHO, approximately 180,000 deaths due to burn incidence are recorded annually, out of which the majority of incidents are recorded in low- and middle-income countries. For instance, as per the National Health Portal of India, around 7 million people suffer from burn injuries every year. Thus, with rising burn cases, the global hypertrophic and keloid scar treatment market is estimated to impel over the forecast period.

Furthermore, technological advancement is expected to further boost the business margin. The introduction of laser therapies for treatment & elimination of scars is widely being adopted. Moreover, many companies are introducing new laser therapy products for scar treatment. For instance, Cynosure introduced a new generation MedLite C6 which is a Q-switched laser therapy device used to treat skin diseases. 

In addition to this, growing awareness regarding the availability of aesthetic surgery is anticipated to impel market growth. For instance, according to the American Society of Plastic Surgeons (ASPS), approximately 18 million people had a surgical invasive cosmetic procedure in the U.S. in 2018.  Similarly, as per a report published by Aesthetic Plastic Surgery National Databank, in 2020, the revenue of all aesthetic procedures was calculated to be USD 9.30 billion. These surgeries are focused on reconstructing body parts that have sustained damage due to burns & accidents. Thus, with the rising awareness about the availability of aesthetic surgery, the industry is sure to gain commendable profits in the ensuing years.

The COVID-19 pandemic was predicted to lower the use of hypertrophic and keloid scar treatment products to a certain extent. However, as the COVID-19 cases are reduced, and restrictions revoked, the procedure is anticipated to witness significant growth. To capture the post-pandemic market, many industry players are adopting various strategies such as geographic expansion, partnership, mergers & acquisitions. For instance, in December 2020, Molnlycke Health AB announced the launch of their new U.K. distribution center. This was intended to strengthen the company’s supply chain in the U.K. during the post-COVID-19 time. Therefore, such strategies initiated by several other companies are anticipated to impel the hypertrophic and keloid scar treatment market post-COVID-19 pandemic.

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Microdermabrasion Devices Market -The global microdermabrasion devices market size was valued at USD 474.2 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.6% over the forecast period.

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.

Hypertrophic And Keloid Scar Treatment Market Segmentation

Grand View Research has segmented hypertrophic and keloid scar treatment market report based on scar type, product, end-use, and region:

Hypertrophic And Keloid Scar Treatment Scar type Outlook (Revenue, USD Million, 2018 - 2030)

• Hypertrophic Scars
• Keloid Scars

Hypertrophic And Keloid Scar Treatment Product Outlook (Revenue, USD Million, 2018 - 2030)

• Topical Products
• Laser products
• Injectables
• Others

Hypertrophic And Keloid Scar Treatment End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Clinics
• Retail pharmacies/e-commerce

Hypertrophic And Keloid Scar Treatment Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

Market Share Insights

November 2021: Sonoma Pharmaceuticals & Dyamed Biotech announced the expansion of their long-term partnership. This partnership is intended to expand the availability of their products in South Asian countries such as Malaysia, Indonesia, Thailand & Singapore.

September 2021: Sanoma Pharmaceuticals partnered with Amazon to provide hypertrophic and keloid scar treatment products in the U.S.

Key Companies profiled:

Some key players in the global hypertrophic and keloid scar treatment market include:

• Smith & Nephew
• Merz Pharmaceuticals, LLC
• Lumenis
• Enaltus LLC
• Sonoma Pharmaceuticals, Inc.
• Molnlycke Health Care AB
• Suneva Medical, Inc.
• Pacific World Corporation
• Perrigo Company PLC
• Cynosure, Inc.
• Alliance Pharma, PLC
• Newmedical Technology, Inc.

Order a free sample PDF of the Hypertrophic And Keloid Scar Treatment Market Intelligence Study, published by Grand View Research.

Disposable Endoscopes Market Political Landscape and Revenue Driver Analysis Report by 2030

Disposable Endoscopes Industry Overview

The global disposable endoscopes market size was valued at USD 1.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.0% from 2022 to 2030. The growing cross-contamination issue of reusable endoscopes is one of the major factors expected to drive market growth. In 2020, Mr. Brian Dunkin MD, CMO of Boston Scientific Endoscopy stated that one in 20 patients has a pathogen contamination concern. Moreover, several tedious sterilization steps to eliminate all kinds of microorganisms from the reusable endoscopes are also expected to increase the adoption of disposable endoscopes.

For instance, according to Boston Scientific, cleaning of endoscopes during ERCP procedures requires over 100 series of manual steps to reuse and it’s also vulnerable to error. Furthermore, the increasing preference of medical professionals to use single-use or disposable endoscopic devices is supporting the market growth. For instance, The Centers for Medicare & Medicaid Services (CMS) 2020 has released a new device passcode for single-use endoscopes. Hospitals and Ambulatory Surgical Centers (ASCs) use this code for treating Medicare patients in the U.S. using single-use duodenoscopes.

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

A moderate impact has been observed during the COVID-19 outbreak on the disposable endoscope market growth. The decrease in the number of surgical procedures due to the COVID-19 pandemic also hampered product adoption. In addition, the shortage of medical staff due to the increased infection risks associated with the cleaning of endoscopes also increase the adoption of single-use devices during the COVID-19 pandemic. For instance, according to a study reported in the Journal of Bronchology & Interventional Pulmonology in 2021, in the U.S., about 11% of health workers were infected with COVID-19 and in Italy, the percentage is approximately 20%.

However, the demand for single-use endoscopes is expected to increase with the gradual depart of COVID-19 due to its safety and elimination of the possibilities of infection. Furthermore, single-use devices are more cost-effective than reusable ones, which is expected to drive market growth. For instance, according to the data published by the Association of Anesthetics in November 2019, the mean cost per patient for reusable flexible bronchoscopes is £511.00 with an associated risk of infection of 2.8%. The estimated mean cost of single-use flexible bronchoscopes per patient is £220.00 and a 0% risk of infection.

Similarly, in 2019, a study published in Chest Journal reported that reusable bronchoscopes used by hospitals are paying about 21% to 155% more per instrument as compared to disposable endoscopes. Consequently, the cost-effectiveness, lower chances of cross-contamination, and minimum resource utilization are in turn expected to propel the market growth over the forecast years. Rapid technological advancements coupled with the growing investments by key manufacturers to develop new, innovative products are anticipated to drive the market further. For instance, in May 2020, Ambu A/S, a single-use endoscope manufacturer, launched Ambu aView 2 Advance, a display unit for single-use endoscopes.

This product is a mobile platform and can be used in different types of endoscopic devices including rhinolaryngoscope, bronchoscope, and cystoscopes among others. Omnivision, in November 2020, introduced imaging subsystems including image signal processor boards, camera modules, and cables for disposable endoscopic devices. Moreover, in November 2020, Olympus Corporation made partnerships with Ruhof Corporation and launched single-use procedure kits and hybrid tubing for endoscopes to reduce infection risks. Thus, the development of visualization systems and components for re-usable endoscopes is supporting the market growth.

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Rigid Endoscopes Market - The global rigid endoscopes market size was valued at USD 6.0 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2030.

Endoscopes Market - The global endoscopes market size was valued at USD 13.6 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030.

Disposable Endoscopes Market Segmentation

Grand View Research has segmented the global disposable endoscopes market on the basis of application, end-use, and region:

Disposable Endoscopes Application Outlook (Revenue, USD Million, 2014 - 2030)

• Bronchoscopy
• Urologic Endoscopy
• Arthroscopy
• GI Endoscopy
• ENT Endoscopy
• Others

Disposable Endoscopes End-use Outlook (Revenue, USD Million, 2014 - 2030)

• Hospitals
• Clinics
• Diagnostics Centers

Disposable Endoscopes Regional Outlook (Revenue, USD Million, 2014 - 2030)

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

Market Share Insights

July 2020: Ambu, a medical device manufacturer received U.S. FDA 510(k) clearance for its disposable duodenoscope.

June 2020: 3NT Medical introduced a single-use ENT endoscope “Colibri Micro ENT Scope” in the U.S.

Key Companies profiled:

Some of the prominent players in the global disposable endoscopes market include:

• Ambu A/S
• Prosurg Inc. (Neoscape, Inc.)
• Boston Scientific Corp.
• Parburch Medical
• OBP Medical Corp.
• Welch Allyn (Hill-Rom Services Inc.)
• Flexicare Medical Ltd.
• Timesco Healthcare Ltd.
• Sunmed

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