U.S. Terrazzo Market Top Players are Doyle Dickerson Terrazzo, Inc. and Krez Group, Inc.

U.S. Terrazzo Industry Overview

The U.S. terrazzo market is expected to reach USD 13.47 billion by 2030, registering a CAGR of 5.6% from 2022 to 2030, as per a new report by Grand View Research Inc. Increasing demand for residential and commercial construction sectors on account of its high-performance characteristics such impact resistance, high durability, and negligible bacteria growth are expected to drive the market growth.

Terrazzo is considered to be inexpensive in the long term owing to its extremely low maintenance costs. However, its installation costs are higher than that of coatings, tiles, and polished concrete surfaces. Development of new generation flooring systems, software development to design customer-centric designs, and fully automatic concrete tile making to enhance the aesthetic appearance are some of the significant developments in the industry.

U.S. Terrazzo Market Segmentation

Grand View Research has segmented the U.S. terrazzo market based on product and application:

Based on the Product Insights, the market is segmented into Cement and Epoxy

• The epoxy segment led the market and accounted for more than 66% share of the total revenue in 2021. Epoxy terrazzo flooring systems are more durable and sustainable than cement terrazzo floors due to advancements in technology and the introduction of polymers.
• Cement terrazzo contains a cement matrix and includes a variety of terrazzo systems, including rustic, sand cushion, bonded, monolithic, and polyacrylate systems.
• Bonded terrazzo is anticipated to gain importance in areas where customers require a glossy effect similar to marbles. The reusability and recyclability of the product are anticipated to fuel its demand shortly.

Based on the Application Insights, the market is segmented into Educational Buildings, Commercial Buildings, Institutional Buildings, Transport Infrastructures, and Other Applications

• The educational buildings segment led the market and accounted for over 48.5% share of the total revenue in 2021. An increase in the number of universities, educational institutions, schools, and auditoriums in the U.S. is projected to be a key factor in the growing penetration of terrazzo in educational buildings in the country.
• The construction of retail outlets for automobiles, fashion brands, lifestyle brands, etc. has contributed to the growth of the market.
• A surge in construction and renovation activities, along with increased retrofitting of institutional buildings in the U.S., is expected to contribute to a rise in demand for terrazzo flooring products over the forecast period.

Key Companies Profile & Market Share Insights

Players operating in the market compete largely based on product quality, customer service, and product pricing. However, product quality is considered the fundamental competing element by market players. Customer service is seen to be the most influential aspect for the players to sustain the competition. To meet the growing demand for terrazzo, prominent companies in the U.S. are working on creating a robust distribution network.

Some prominent players in the U.S. Terrazzo market include:

• Terrazzo USA
• Master Terrazzo Technologies Inc.
• Doyle Dickerson Terrazzo, Inc.
• The Venice Art Terrazzo Co., Inc.
• Krez Group, Inc.
• Terrazzo and Marble Supply
• Klein & Co Terrazzo
• Concord Terrazzo Company, Inc.
• American Terrazzo
• RBC Industries, Inc.
• F & M Tile & Terrazzo Co., Inc.
• Angelozzi Terrazzo
• Key Resin Company
• EnviroGLAS Products, Inc.

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

Succinic Acid Market Size, Share and Trends Analysis Report by End Use, 2030

Succinic Acid Industry Overview

The global succinic acid market size is expected to reach USD 512.8 million by 2030, registering a CAGR of 9.7% during the forecast period, according to a new report published by Grand View Research, Inc. The growth is attributed to a surge in demand from the end-use industries, such as food & beverages, pharmaceutical, and personal care & cosmetics. In the food & beverages industry, Succinic Acid (SA) is used as a food additive in dietary supplements and food preservation. In the pharmaceutical industry, the product finds application in the preparation of vitamin A and many anti-inflammatory products. It is also used in the formulation of cosmetics and personal care products, such as toothpaste, perfumes, nail polish, and liquid soaps.

Succinic acid is produced from Liquefied Petroleum Gas (LPG). Petroleum gas is often expensive. As an alternative to LPG-based production, succinic acid is generated by different microbes and is naturally formed by undertaking the process of anaerobic digestion. It is regarded as a common organic acid that is used in a variety of applications. Bio-based SA is similar in structure to petroleum-based products. However, it helps reduce carbon emission, as well as optimize and enhance the performance of the acid. Rising customer preference for biodegradable plastics and other greener materials is a key factor driving the market growth.

Succinic Acid Market Segmentation

Grand View Research has segmented the global succinic acid market based on type, end-use, and region:

Based on the Type Insights, the market is segmented into Petro-based and Bio-based

• The petro-based type dominated the global market with a revenue share of more than 50.0% in 2021. This is attributed to the use of petro-based succinic acid as an alternative to adipic acid in polyurethane production.
• The bio-based segment is the second-largest revenue contributor. Increasing health consciousness among consumers and the rising focus of the governments on environmental concerns have created a large barrier to the market growth of petro-based products.
• Increasing preference for succinic acid over butane-based maleic anhydride in the production of chemicals such as fumaric acid, succinic anhydride, plastics, diethylmaleate, polymers, and glyoxylic acid, which are conventionally manufactured from butane, is also anticipated to positively influence the demand for a bio-based product.

Based on the End-use Insights, the market is segmented Food & Beverages, Pharmaceutical, Coatings, Industrial, Personal Care & Cosmetics, and Others

• The industrial -use segment dominated the succinic acid market with the largest revenue share of more than 39.0% in 2021. This significant share of the segment can be attributed to the increasing use of the products, such as 1,4-butanediol (BDO), polyurethane, and tetrahydrofuran, in various industries where succinic acid is the primary raw material.
• The coatings segment held the second-largest revenue share in 2021, attributed to the rising demand from the construction and automotive industries.

Succinic Acid Regional Outlook

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

Key Companies Profile & Market Share Insights

The presence of many multinational players has resulted in high competition in the market. These companies are keen on expanding their operations in untapped markets to generate higher revenues. They are following various business strategies to establish a widespread dealer network, a strong customer database, and a variety of products to gain an advantage over other players. Companies, with the help of technological advancements, are also trying to adapt to innovative production techniques to gain maximum profit with minimal input and investment. For instance, in 2019, BASF SE launched a novel technique based on crude glycerol and whey permeate for effective succinic acid synthesis.

Some prominent players in the global Succinic Acid market include:

• BASF SE
• Myriant Corporation
• BioAmber
• Parchem
• Dow Chemicals
• Ernesto Ventos S.A.
• The Chemical Company
• Kawasaki Kasei Chemicals Ltd.
• Mitsubishi Chemical Corporation

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

U.S. Hospice Market Key Innovators, Industry Leaders, and Emerging Players, 2030

U.S. Hospice Industry Overview

The U.S. hospice market size was valued at USD 32.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.20% over the forecast period. The rising geriatric population coupled with the increasing prevalence of chronic as well as age-associated diseases is anticipated to boost the market growth. According to the Population Reference Bureau, the U.S. population aged 65 years and above is expected to reach 95 million by 2060 from 52 million in 2018. The high prevalence of cancer, dementia, and respiratory, cardiovascular, and kidney diseases among the geriatric population is projected to further drive the market growth.

The growing need for quality healthcare services at home along with the increasing Medicare reimbursement for hospice is expected to fuel the market growth over the forecast period. Medicare, Medicaid, and other public and private organizations provide coverage for hospice services. According to the Federal Register, the Centers for Medicare & Medicaid Services (CMS) proposed a 2.7% increase in the payment rate of hospice for FY 2020.The benefits of hospice services include comfort care by professionals and family, less financial burden or reduced out-of-pocket expenses, comprehensive care plans, and family counseling.

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

In addition, it also helps avoid unwanted procedures, medical treatments, and hospitalizations. In addition, the growing significance of targeted service is anticipated to boost market growth in the coming years. The growing importance of telemedicine is also expected to drive the market. The technology is marking its presence to extend its care to outpatient settings to improve care coordination. The Hospice of Santa Cruz County is launching a telehealth program for palliative and hospice services that would enable medication management, virtual visits, and other services with the help of a grant it received from the Central California Alliance for Health. 

Hospice patients spend up to 9 fewer days in the hospital. Hospice is by far the least expensive patient environment, with an average daily per diem of approximately USD 190 (Routine Home Care [days 1–60] each day). Hospice and palliative care benefit the elderly by decreasing hospitalizations, focusing on the body, mind, & spirit, managing pain & symptoms, and supporting patients & families in comprehending treatment regimens, resulting in increased demand for these services. 

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

U.S. Long Term Care Market - The U.S. long term care market size was valued at around USD 467.3 billion in 2021 and is expected to register a CAGR of 5.97% in the forecast period.

U.S. Care Services Market - The U.S. care services market size was valued at USD 456.6 billion in 2021 and is expected to exhibit a CAGR of 5.76% during the forecast period.

U.S. Hospice Market Segmentation

Grand View Research has segmented the U.S. hospice market on the basis of location, type, and diagnosis:

U.S. Hospice Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Routine Home Care
• Continuous Home Care
• Inpatient Respite Care
• General Inpatient Care

U.S. Hospice Location Outlook (Revenue, USD Million, 2017 - 2030)

• Hospice Center
• Hospital
• Home Hospice Care
• Skilled Nursing Facility

U.S. Hospice Diagnosis Outlook (Revenue, USD Million, 2017 - 2030)

• Dementia
• Circulatory/Heart
• Cancer
• Respiratory
• Stroke
• Chronic Kidney Disease
• Others

Market Share Insights

December 2019: Kindred Healthcare, LLC successfully implemented Netsmart Referral Manager (Netsmart) across LTAC hospitals.

April 2019: Geisinger Home Health and Hospice & LHC Group, Inc. entered into a joint venture to improve home health and hospice services in Pennsylvania. The partnership aims to offer hospice services in Danville, Wilkes-Barre, Bloomsburg, Lewisburg and Camp Hill, Northumberland, Lewistown, Montoursville, and Pennsylvania.

Key Companies profiled:

Some prominent players in the U.S. Hospice market include:

• Kindred Healthcare Inc.
• Amedisys
• LHC Group, Inc.
• Brookdale Senior Living, Inc.
• Chemed Corporation
• Crossroads Hospice
• Seasons Hospice & Palliative Care
• Accentcare, Inc.
• Heart to Heart Hospice
• Oklahoma Palliative & Hospice Care

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

The Growing Prevalence of Feline and Dog-Related Diseases drive Pet Insurance Market Revenue by 2030

Pet Insurance Industry Overview

The pet insurance market size was valued at USD 9.4 billion in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 17.04% from 2023 to 2030. Growing pet population, adoption of pet insurance in underpenetrated markets, increasing veterinary care costs, initiatives by key companies, and humanization of pets are some of the key drivers of this market. In 2020, Trupanion reported that over 800,000 pets were insured under the company’s policies across key markets in the U.S., Canada, and Australia.

The COVID-19 pandemic presented several challenges for the companion animal industry including pet owners, veterinarians, veterinary hospitals, and animal health companies. However, the industry soon began to respond to the pandemic by deploying supportive measures to ensure access to veterinary care and other services. The challenges brought on by the pandemic also led to awareness among pet parents to reduce financial risk by getting a pet insurance policy. According to a survey conducted by Petplan- a market leader in the U.K., there was a boom in pet ownership during 2020. Dogs were the most popular pets followed by cats. About 47% of the respondents bought pets for the first time and overall around 26% of pet owners in the U.K. bought a pet amidst the COVID-19 pandemic.

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

The 3 key reasons for getting a pet were identified to be work-from-home conditions, desire for companionship, and more time spent at home due to lockdown and movement restrictions. One-fifth of the pet owner respondents stated that they were more likely to buy an insurance policy for their pets. Overall, the pandemic increased the demand for risk protection among pet parents. Companies such as the Animal Friends Insurance began offering coverage for remote consultation to pet parents by partnering with Joii Pet Care. This combined with growing pet humanization and expenditure is anticipated to propel the market growth over the forecast period.

The growing prevalence of feline and dog-related diseases and rising pet adoption are major drivers for this market. Furthermore, the growing demand for pet insurance to assist in limiting the out-of-pocket expenditure on serious medical issues, such as accidental injuries and cancer is anticipated to boost the market growth in the near future. There is also an increase in demand for veterinary healthcare facilities, which is estimated to contribute to the demand for pet insurance. Veterinary services are usually capital intensive and also require specialized veterinarians, skilled technicians, and specifically designed diagnostic equipment. This can drive up the cost of treatment for pet owners thus increasing demand for suitable pet insurance policies.

According to the North American Pet Health Insurance Association (NAPHIA), about 3.45 million pets were insured across the North American region in 2020. This number was significantly greater than the 2.81 million pets insured in North America in 2019. The surge was attributed to the stay-at-home and work-from-home conditions created by the COVID-19 crisis. However, the introduction of new insurance products by new and large market entrants is expected to increase the competition in the North American market. The market is projected to mature over time with increased competition and the volume of claims being processed. 

Browse through Grand View Research's Healthcare IT Industry Research Reports.

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 Services Market - The global veterinary services market size was valued at USD 97.34 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028.

Pet Insurance Market Segmentation

Grand View Research has segmented the global pet insurance market on the basis of coverage type, animal type, sales channel, and region:

Pet Insurance Coverage Type Outlook (Revenue, USD Million, 2018 - 2030)

• Accident & Illness
• Accident only
• Others

Pet Insurance Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

• Dogs
• Cats
• Others

Pet Insurance Sales Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Agency
• Broker
• Direct
• Bancassurance
• Others

Pet Insurance Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

Market Share Insights

November 2021: AXIS Capital Holdings Limited’s specialty insurance business segment- AXIS Insurance, entered the market by partnering with Managing General Underwriter Petplan. The company partnered with Petplan via its Accident and Health unit and this strategic collaboration supported its growth objectives.

June 2020: Trupanion signed a partnership with Vetter Software, a provider of technology solutions for animal healthcare. This partnership included integration between Vetter Software’s cloud veterinary practice management platform software and Trupanion’s software which enables direct payment to the veterinarian at the time of check-out.

Key Companies profiled:

Some prominent players in the global Pet Insurance market include:

• Trupanion, Inc.
• Deutsche Familienversicherung AG (DFV)
• Petplan (Allianz)
• Animal Friends Insurance Services Limited
• Figo Pet Insurance, LLC
• Direct Line
• Nationwide Mutual Insurance Company
• Embrace Pet Insurance Agency, LLC
• Anicom Insurance
• ipet Insurance Co., Ltd.
• MetLife Services and Solutions, LLC
• Pumpkin Insurance Services Inc.

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

Global Fitness App Market size is expected to reach USD 4.8 Billion by 2030

Fitness App Industry Overview

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. The spreading COVID-19 pandemic led to nationwide lockdowns followed by social distancing norms, thereby aiding the transition from traditional studios and gyms to virtual fitness. It, in turn, has led to increased downloads and subscriptions of fitness apps. As per a report published by the American College of Sports Medicine (ACSM), it has been stated that fitness apps were ranked at number 13 in accordance with the 2019 fitness trends.

Tough competition has been witnessed between brick-and-mortar gyms against in-app fitness. Information technology has transformed the way the fitness industry works. According to an article published by World Economic Forum in September 2020, it is stated that downloads of fitness and health apps increased globally by 46.0% due to the growing trend of online fitness training, which is driving the market globally. The growing awareness regarding fitness and mental well-being is also driving the market.

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

In addition, the COVID-19 pandemic has led to an increase in awareness concerning health and hygiene. As per a World Economic Forum article published in September 2020, the Daily Active Users (DAUs) of fitness apps have increased by 24.0% in quarter 2 over quarter 1 in 2020. Moreover, the expanding network of fitness studios and gyms through online platforms is further aiding the adoption of these apps. Owing to this, several consumers are significantly investing in in-home fitness equipment, thus boosting revenue growth. For instance, revenue generated by Peloton, a U.S.-based exercise equipment company, has been estimated to double in 2020.

These apps are utilizing machine learning, artificial intelligence, and other technologies to offer personalized fitness plans to their customers. They also offer personalized diet charts, no equipment workout routines, track footsteps, monitor diet, and also provide personalized health and fitness coaches. Such offerings and advantages over brick and mortars are expected to increase the growth potential of the market. For instance, MyFitnessPal offers personalized diet and activity tracking to its users, generating a revenue of USD 6.7 million in June 2020. In addition, wearable technology has remained the leading fitness trend for 2019. Health and fitness apps show the highest retention rates across all categories with 96.0% of users using only one of these apps. 

Another major factor aiding the market growth is the increasing penetration of smartphones worldwide. As per the Mobile Economy Survey 2018, smartphone penetration is projected to increase from 57.0% in 2017 to 77.0% by 2025. In addition, as per the Mobile Economy 2018 survey, unique mobile subscribers are anticipated to reach 5.9 billion by 2025. Moreover, the growing adoption of wearable devices including Fitbit and Apple Watch will further aid the market growth. 

Browse through Grand View Research's Healthcare IT Industry Research Reports.

Fitness Platforms For Disabled Market - The global fitness platforms for disabled market size was valued at USD 1.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 21.9% from 2022 to 2030.

Women’s Health App Market - The global women’s health app market size was valued at USD 3.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 19.6% from 2023 to 2030.

Fitness App Market Segmentation

Grand View Research has segmented the global fitness app market on the basis of type, platform, device, and region:

Fitness App Type Outlook (Revenue, USD Million, 2016 - 2030)

• Exercise & Weight Loss
• Diet & Nutrition
• Activity Tracking

Fitness App Platform Outlook (Revenue, USD Million, 2016 - 2030)

• Android
• iOS
• Others

Fitness App Device Outlook (Revenue, USD Million, 2016 - 2030)

• Smartphones
• Tablets
• Wearable Devices

Fitness App Regional Outlook (Revenue, USD Million, 2016 - 2030)

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

Market Share Insights

June 2020: HealthifyMe, a health and nutrition app, launched HealthifyMe Studio to provide live and interactive workouts.

Key Companies profiled:

Some prominent players in the global fitness app market include:

• Adidas
• Appster
• FitnessKeeper
• Fitbit, Inc.
• Azumio, Inc.
• MyFitnessPal Inc.
• Noom
• Nike
• Under Armour, Inc.
• WillowTree, Inc.
• Polar Electro
• Kayla Itsines
• Google
• Fooducate
• ASICS America Corporation

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

Laparoscopic Devices Market Top Players are Johnson and Johnson, DEAM, and Olympus Corporation

Laparoscopic Devices Industry Overview

The global laparoscopic devices market size was valued at USD 6.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.2% from 2022 to 2030. The growth of the market is attributed due to the increasing incidence of obesity across all age groups, the rapidly growing geriatric population in the Asia Pacific region, especially in countries such as Japan, India, and China, and quick technological improvements. According to the WHO, in May 2020, there have been more than 42,48,389 COVID-19 reported cases and 2,94,046 deaths globally. The COVID-19 pandemic has created a significant challenge for the global healthcare industry. Restricted access to medical services has led to inadequate care for patients suffering from other diseases. Laparoscopy has been adversely impacted by the pandemic. During this period, surgeries are often even canceled or being postponed to the lower transmission of the virus.

However, the market for the laparoscopic device is expected to rebound and grow over the forecast period, as most countries across the globe have started easing lockdown measures and resumed some of the elective procedures. Key players are planning to extend their businesses regionally and create new warehouses in other locations, as well as run their operations through numerous channels in the worst-affected areas. Companies are using a variety of tactics to deal with supply chain disruptions, including rerouting logistics, sourcing from extra partners, and air freight delivery. Local manufacturers have also benefited from the pandemic. These factors are expected to create lucrative opportunities for market growth.

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

In recent times, laparoscopic surgery is preferred more than conventional ones owing to its numerous benefits, such as shorter hospital stay, decreased blood loss, and lower patient morbidity of laparoscopy, as well as offering quick recovery time, rapid and successful outcomes, low risk of infection, small or no incision and less pain. Since the demand for laparoscopic surgery is significantly increasing, the demand for laparoscopic devices is likely to also grow during the forecast period. The factors driving the growth of the market are the increasing number of patients suffering from health issues such as uterine fibroids, and endometriosis, the rising number of hysterectomy and myomectomy procedures, and growing awareness about the improving healthcare infrastructure in emerging economies.

In addition, supportive government policies and laws of the countries are boosting the growth of the market for the laparoscopic device. Moreover, some countries have supportive reimbursement policies, which are anticipated to increase the sales of the laparoscopic power morcellators in those regions. Laparoscopic devices applications are expanding due to a noteworthy increase in worldwide elderly demographics and the expansion of energy systems, which is increasing their availability and affordability. Laparoscopic devices, which incorporate energy systems, are expected to find lucrative uses in various applications in bariatric surgeries, such as gastric bypass, sleeve gastrectomy, adjustable gastric band, and biliopancreatic diversion with duodenal switch.

For instance, in June 2021, Ethicon introduced ENSEAL X1 Curved Jaw Tissue Sealer, the newest, latest, and advanced laparoscopic bipolar energy device that provides stronger sealing, with better grip to tissues as well as improves procedural efficiency. It is indicated for bariatric surgery, gynecological, thoracic, and colorectal procedures. In addition, the market for the laparoscopic device is consolidating due to the rising popularity of medical equipment and along with increased research collaboration and agreements between diverse manufacturers. For instance, in February 2020, Medtronic announced the acquisition of Digital Surgery-a medical device company and innovator in surgical Artificial Intelligence (AI), digital education, training, and data analytics. This acquisition will enhance its robotic-assisted surgery platform and provide AI and data analytics within laparoscopic procedures. 

Furthermore, a rising inclination for minimally invasive laparoscopic equipment is moving this market ahead. Minimally invasive surgical methods are becoming more popular as a result of the reduced trauma they cause. For instance, in December 2020, Olympus has announced the addition of 3D and infrared capabilities to their VISERA ELITE II surgical imaging platform for minimally invasive surgery. The addition of such an imaging platform could help hospitals and operation centers to improve efficiency and cut expenses. The product is useful in a variety of applications, such as gynecology, general surgery, orthopedic surgery, endourology, and ENT. Furthermore, in some countries, health insurance companies pay for minimally invasive laparoscopic surgeries. For example, according to the Medicare Benefits Schedule, Medicare now covers up to 75% of laparoscopic procedures (MBS). Patients' preferences for minimally invasive surgeries have risen as a result of these considerations.

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

Vessel Sealing Devices Market - The global vessel sealing devices market size was estimated at USD 1,510.0 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.04% from 2023 to 2030.

Cholecystectomy Devices Market - The global cholecystectomy devices market size was estimated at USD 41.34 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.85% during the forecast period.

Laparoscopic Devices Market Segmentation

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

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

• Laparoscopes
• Energy Systems
• Trocars
• Closure Devices
• Suction/ Irrigation Device
• Insufflation Device
• Robot-Assisted Systems
• Hand Access Instruments

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

• Bariatric Surgery
• Urological Surgery
• Gynecological Surgery
• General Surgery
• Colorectal Surgery
• Other Surgeries

Laparoscopic Devices End-user Outlook (Revenue, USD Million, 2017 - 2030)

• Hospital
• Clinic
• Ambulatory

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

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

Market Share Insights

August 2020: B. Braun Medical and Kerma Medical Products announced a collaboration to advance the development and delivery of healthcare products and services, with an emphasis on veterans, minorities, and other underserved communities.

September 2019: Ethicon Inc. has launched a powered circular stapler indicated for gastric, colorectal, and thoracic surgery. This reduces leaks by 61% at the staple line without compromising perfusion.

Key Companies profiled:

Some of the prominent players in the laparoscopic devices market include:

• Karl Storz SE & CO. Kg
• Medtronic
• Johnson and Johnson
• Olympus Corporation
• CONMED Corporation
• Braun Melsungen AG
• The Cooper Companies Inc.
• Richard Wolf GmbH
• Microline Surgical
• BD
• Welfare Medical Ltd
• DEAM
• Intuitive Surgical
• Shenzen Mindray Bio-Medical Electronics Co., Ltd.

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

Veterinary Diagnostics Market Raw material Outlook, PESTEL Analysis and Type Estimates

Veterinary Diagnostics Industry Overview

The global veterinary diagnostics market size was valued at USD 6.63 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 11.2% from 2022 to 2030. The growth in this market is attributed to factors, such as increased expenditure on animal health, rising incidence of zoonotic diseases & number of veterinary practitioners, technological advancement in point of care diagnostics, and increasing disposable income levels in developing regions. The growing incidence of infectious animal ailments is further poised to augment the demand for veterinary diagnostics. Moreover, advancements in diagnostics together with the growing acceptance of innovative techniques in most of the laboratories are driving the market growth.

For instance, in August 2021, FORCE Technology established a new subsidiary called AeroCollect A/S. AeroCollect technology with simple air samples offers a picture of the diseases in a herd. This is a revolution in animal diagnostics developed in Denmark by the GTS institute FORCE Technology. AeroCollect technology is presently used in the swine, poultry, and mink industries. The global COVID-19 pandemic has impacted all industries. OIE has confirmed that no animals can spread this virus. However, human-to-animal transmission has been reported in a few countries. During the COVID-19 pandemic, limited operation of veterinary clinics due to stringent lockdown norms consequently resulted in a decline in veterinary visits, thus impacting the market.

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

However, the market has shown a V-shaped recovery during the 3rd quarter of 2020 due to the resumption of pet clinic visits and ease of norms. According to IDEXX, U.S. clinic visits increased by 6% in Q4 2020 from the last quarter, which is expected to drive the market growth over the forecast period. An increase in pet adoption will also support the market growth. For instance, shelters, nonprofit rescues, and private breeders all reported high consumer demand post-COVID-19 in the U.S. Strong product pipeline By IDEXX, Zoetis, and Heska Corp. is expected to propel the growth over the forecast period. For instance, Zoetis acquired Scandinavian Micro Biodevices in August 2020 to expand its revenue in veterinary diagnostics.

Moreover, veterinarians have been gradually increasing the frequency of diagnostic testing. This trend was highlighted during the COVID-19 pandemic when hospitals had to focus on essential pet services. Continued growth in the population of pets and the increased penetration of veterinary diagnostic products at veterinary clinics further promote market growth. For instance, IDEXX showed improved utilization of diagnostics supported a 21% surge in same-store diagnostic revenue per practice, and a 15% surge in same-store veterinary clinic revenue in its Q1 2021 earning call.

Increasing demand for point-of-care diagnostics is expected to further propel market growth. It provides fast results for clinical tests and can be directly assessed to save time. According to AVMA, there were around 26,000 veterinary hospitals & clinics in the U.S. in 2019 and more than 80% of them provided point-of-care testing. In June 2021, DCN Dx acquired PortaScience, Inc., a point-of-care diagnostics development corporation. With this acquisition, DCN Dx expanded its capabilities for veterinary, healthcare, and consumer markets. The aforementioned factors are expected to propel the market growth over the forecast period.

Browse through Grand View Research's Animal Health Industry Research Reports.

Pet Dental Health Market - The global pet dental health market size was valued at USD 5.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.18% from 2022 to 2030.

Pet Grooming Services Market - The global pet grooming services market size was estimated at USD 5.38 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 7.09% from 2022 to 2030.

Veterinary Diagnostics Market Segmentation

Grand View Research has segmented the global veterinary diagnostics market on the basis of product, species, testing type, disease type, end-use, and region:

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

• Consumables, Reagents & Kits
• Instruments & Devices

Veterinary Diagnostics Species Outlook (Revenue, USD Million, 2017 - 2030)

• Cattle
• Canine
• Feline
• Caprine
• Equine
• Ovine
• Porcine
• Avian
• Others

Veterinary Diagnostics Testing Type Outlook (Revenue, USD Million, 2017 - 2030)

• Analytical Services
• Diagnostic Imaging
• Bacteriology
• Pathology
• Molecular Diagnostics
• Immunoassays
• Parasitology
• Serology
• Virology

Veterinary Diagnostics Disease Type Outlook (Revenue, USD Million, 2017 - 2030)

• Infectious Diseases
• Non-Infectious Diseases
• Hereditary, Congenital & Acquired Diseases
• General Ailments
• Structural & Functional Diseases

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

• Laboratories
• Veterinary Hospitals & Clinics
• Point-Of-Care/In-House Testing
• Research Institutes & Universities

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

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

Market Share Insights

November 2021: FUJIFILM Europe aims to expand its veterinary diagnostic customer portfolio with products and services with the purchase of DMV Imaging. DMV Imaging, headquartered in Lyon, France, has specialized in offering veterinary POC laboratory diagnostics.

March 2021: Zomedica Corp., a veterinary health corporation producing point-of-care diagnostics products for cats and dogs, recorded the first veterinarian sale of TRUFORMA and officially entered commercialization.

Key Companies profiled:

Some of the prominent players in the global veterinary diagnostics market include:

• Zoetis
• Heska Corp.
• IDEXX Laboratories Inc.
• Agrolabo S.p.A.
• IDvet
• Virbac
• Thermo Fisher Scientific Inc.
• Neogen Corp.
• Covetrus
• iM3Vet Pty Ltd.

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

Healthcare Contract Manufacturing Market Application Outlook and Research Report

Healthcare Contract Manufacturing Industry Overview

The global healthcare contract manufacturing market size was valued at USD 211.9 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 9.6% from 2022 to 2030. An increase in offshoring, especially in emerging countries, and the changing regulatory landscape, are the prominent trends currently present in the market. Pharmaceutical and medical device companies are outsourcing low-end services to third parties (CMOs) to reduce the overall cost of production and speed up the time to market of products. This trend is expected to contribute to the growth of the contract manufacturing market in the foreseeable future. COVID-19 brought in unparalleled demand for diagnostic tests, Personal Protective Equipment (PPE), ventilators, and other critical medical supplies. COVID-19 has had a major impact on the supply-demand gap, with a 1,000 to 2,000-fold increase for PPE products, raw material shortages increased by over 10% thereby pushing the by more than 100% in 2020.

The COVID-19 pandemic has forced many pharmaceutical and medical device companies to increase the manufacturing of drugs and medical devices needed by infected patients worldwide. The U.S. FDA has observed that over 60% of FDA-regulated products imported from China are medical devices, making U.S. medical device industry highly dependent on China’s supply chain. Medical device manufacturers are facing severe supply bottlenecks, which will ultimately reduce the company’s scope of revenue generation.

Gather more insights about the market drivers, restraints, and growth of the Global Healthcare Contract Manufacturing market

The presence of end-to-end service providers that are engaged in providing value-added services for an integrated or risk-sharing business model is expected to boost the market growth. Pharmaceutical and medical device companies are outsourcing manufacturing activities to CMOs to reduce their manufacturing footprint. It allows manufacturers to be more dynamic and cost-effective in their manufacturing process.

In addition, factors such as the increasing prevalence of noninvasive surgical procedures are driving the demand for pharmaceutical drugs and medical devices. To meet such increased demand, OEMs are outsourcing the manufacturing of non-core manufacturing activities as it assists them in reducing labor costs, freeing up capital, increasing worker productivity, and improving manufacturing lead times. For many large, medium and small pharma firms, outsourcing turns out to be an economic option, as fixed costs for manufacturing biologics products account for around 60–70% of the Cost of goods sold (COGS) and cannot be avoided even during idle conditions.

Therefore, the use of multi-product facilities to produce biologics has been proven economically efficient and safe as there is negligible to no risk with respect to product carryover, thereby supporting market growth. Since the medical device industry is highly regulated, making rapid changes in the supply chain may not be manageable. Medical device manufacturers distributing products in the U.S. are not required to report actual or potential supply chain shortages to the FDA. Despite this, the FDA is actively addressing potential shortages in the medical device supply chain. Some of the products facing shortage are aluminum products, integrated circuits, lithium-ion batteries, and special components, including pneumatic fittings, black body radiation source, & platinum.

This has created an unprecedented demand for the manufacturing of active pharmaceutical ingredients (APIs), finished doses, and medical devices in order to maintain supply. According to Medical Product Outsourcing, manufacturers expect outsourcing to yield cost savings and faster time to market. According to various reputed tabloids, companies are expected to outsource more work, based on a 2020 Global Managed Services Report. This report has performed a survey with 1,250 executives across 29 countries, which stated that 45% of organizations will outsource more in the coming years. However, the limited production capacity of CMOs may pose a major challenge restraining the market growth.

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

Nutraceutical Contract Manufacturing Services Market - The nutraceutical contract manufacturing services market size was estimated at USD 133.34 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 12.04% from 2023 to 2030.

Medical Device Outsourcing Market - The global medical device outsourcing market was valued at USD 117.5 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.1% from 2023 to 2030.

Healthcare Contract Manufacturing Market Segmentation

Grand View Research has segmented the global healthcare contract manufacturing market based on type and region:

Healthcare Contract Manufacturing Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Medical Device
• Pharmaceutical

Healthcare Contract Manufacturing End use Outlook (Revenue, USD Billion, 2017 - 2030)

• Medical Device Companies
• Pharmaceutical Companies
• Biopharmaceutical Companies

Healthcare Contract Manufacturing Regional Outlook (Revenue, USD Billion, 2017 - 2030)

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

Market Share Insights

February 2020: Integer Holdings Corporation acquired Inomec, an Israel-based company. The acquisition is likely to provide Integer with an R&D & sales center in Israel and would add catheter design, clinical, & pilot manufacturing capabilities to its portfolio.

October 2018: Nordson Corporation acquired Clada Medical Devices, a design & development firm mainly focused on balloon catheters. This enhanced the company’s design & development capabilities, which further supports the company’s position as a prominent contract manufacturer for OEMs across the interventional & surgical device landscape.

Key Companies profiled:

Some prominent players in the global healthcare contract manufacturing market include:

• Nordson Corporation
• Integer Holdings Corporation
• Jabil Inc.
• Viant Technology LLC
• FLEX LTD.
• Celestica Inc.
• Sanmina Corporation
• Plexus Corp.
• Phillips-Medisize
• West Pharmaceutical Services, Inc.
• Synecco
• Catalent, Inc.
• Thermo Fisher Scientific Inc.
• Recipharm
• Boehringer Ingelheim International GmbH
• Lonza
• Samsung Biologics
• WuXi AppTec
• FUJIFILM Diosynth Biotechnologies
• Cambrex Corporation

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

Tattoo Removal Devices Market Porter's Five Forces Analysis and Technology Landscape

Tattoo Removal Devices Industry Overview

The global tattoo removal devices market size was estimated at USD 128.6 million in 2021 and is expected to expand at a CAGR of 9.6% from 2022 to 2030. Increasing adoption of laser treatments for aesthetic procedures and high demand for tattoo removal are the major market drivers. Growing demand for non-invasive procedures for aesthetics is also fueling the market growth. The market saw a significant setback due to the COVID-19 pandemic. The pandemic resulted in a reduction of various aesthetic procedures as they were not medical necessities, leading to the closure of medical aesthetic centers and dermatology clinics. However, after the second quarter of 2020, aesthetic procedures like tattoo removal started resuming and this might boost the market growth.

The high prevalence of ‘tattoo regret’ among millennials is expected to propel the demand for tattoo removal devices. For instance, according to an article published by B&T MAGAZINE, nearly 28.6% of females and around 29.7% of males wish to remove their tattoos while more than 35.0% of the population in the age group of 18-21 who have been inked, regret their tattoos. The U.S. Laser Devices Segment held the highest CAGR of 9.6% in 2021. A wide range of techniques, such as laser therapy, pulsed light therapy, dermabrasion, plastic surgery, and chemical peels, are used for tattoo removal. The majority of these techniques are effective, safe, and non-invasive.

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

Thus, an increase in popularity of these techniques coupled with growing demand for non-invasive procedures is expected to boost the tattoo removal market in the forecast period. Most U.S. companies refrain from hiring candidates with a tattoo, especially in the areas such as below the wrist, above the collar, and face. For instance, as per a study conducted by Pew Research Center, nearly 76% of the study participants believed that visible tattoos reduce the hiring chances of a candidate during an interview, while, around 42% of the participants believe that visible tattoos are inappropriate at the workplace. Thus, such social issues related to tattoos are anticipated to increase the demand for tattoo removal.

The advent of COVID-19 led to the closure of many aesthetic facilities as they are close contact services and the risk of transmission was high leading to the faster spread of the virus. However, many aesthetic clinics like MedSpas and dermatology centers witnessed a gradual increase in the second quarter of 2020 and the professionals witnessed high demand for aesthetic services. Many dermatologists believe that the pandemic may act as a springboard for aesthetic treatments like tattoo removal which is going to increase the market growth during the forecast period.

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

CO2 Medical Laser Systems Market - The global CO2 medical laser systems market was valued at USD 500.01 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.00% from 2023 to 2030.

Ultrasound Device Market - The global ultrasound device market size was valued at USD 7.9 billion in 2021 and is anticipated to expand at a CAGR of 4.5% from 2022 to 2030.

Tattoo Removal Devices Market Segmentation

Grand View Research has segmented the global tattoo removal devices market on the basis of device, end-use, and region:

Tattoo Removal Devices Outlook (Revenue, USD Million, 2018 - 2030)

• Laser Devices
• RF Devices
• Ultrasound Devices

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

• Dermatology Clinics
• Medical spa & beauty centers

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

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

Market Share Insights

August 2020: Lumenis Ltd announced the launch of its latest innovation, the NuEra Tight with FocalRF technology. This is a non-invasive RF body treatment platform and is available in the U.S., Europe, Asia, and the Middle East.

Key Companies profiled:

Some of the prominent players in the global tattoo removal devices market include:

• Lutronic Corporation
• Hologic (Cynosure, Inc.)
• Alma Lasers, Ltd.
• Syneron candela
• Astanza, EL.En. S.p.A
• Cutera Inc.
• Lumenis Ltd.

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

Cannabidiol Market Summary, Key Buying Criteria, Revenue Growth Prospects and PESTEL Analysis

Cannabidiol Industry Overview

The global cannabidiol market size was valued at USD 5.18 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.8% from 2022 to 2030. Cannabidiol is a chemical compound that is found in the cannabis sativa plant, and is extracted from hemp or cannabis, generally from hemp due to its naturally high cannabidiol (CBD) content. It has several benefits in treating anxiety and seizures and reducing pain. Due to its healing properties, the demand for CBD for health and wellness purposes is high, which is the major factor driving the market. In addition, the rising acceptance and use of products due to government approvals is a major factor expected to boost the production of CBD-infused products.

Cannabidiol oil is increasingly being used to make skincare products to treat acne and wrinkles. Sephora, for example, had recently introduced cannabidiol or CBD skincare line to its stores. Similarly, Ulta Beauty is intending to launch a cannabidiol-based product line. Several new companies are also entering the market for cannabidiol-infused cosmetic products. For instance, in 2019, Aphria, a producer and distributor of medicinal and recreational cannabis-based in Canada, introduced its Cannabidiol-based cosmetics line in Germany.  

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

However, the COVID-19 pandemic has caused unprecedented lockdowns all around the world, collapsing daily operations and changing consumer behaviors in nearly every industry. As the response to COVID-19 ramps up, retail stores have shut down. The market started witnessing a shortage in supply due to the nationwide shutdown of transportation and manufacturing in major raw material manufacturing countries, such as China and India. In addition, due to supply chain disruptions in the U.S., the supply of other raw materials has been limited, which is disrupting the manufacturing, and in turn, the supply chain of CBD consumer health products.  

Out of all cannabinoids, cannabidiol is most widely used for therapeutic reasons due to the lack of psychoactive effects. In many medical applications, cannabidiol oil is used, such as anxiety and depression treatment, stress relief, diabetes prevention, pain relief, cancer symptom relief, and inflammation. Due to the increasing adoption of CBD-based products to treat ailments, the global market is anticipated to grow at a lucrative rate over the forecast period.

Furthermore, the government of different countries as well as major players in the cannabinoid market are investing in research and development activities. The CBD is said to be an effective treatment for various neurological diseases including epilepsy in several clinical trials. Players like Echo Pharmaceuticals developed a product called Arvisol, which is an oral tablet containing pure cannabinoids, for treatment including epilepsy and schizophrenia. Zynerba Pharmaceutical, for instance, developed a cannabinoid-based gel named Zygel, designed for treating Fragile X syndrome, encephalopathies, and adult seizures.

Increasing awareness regarding cannabidiol's therapeutic benefits has influenced buyers to buy cannabidiol products, regardless of their cost. As these have a greater profit margin, commercial retailers are now focusing on selling cannabis-based products. Numerous health and wellness retailers are offering CBD-based products, such as Rite Aid, CVS Health, and Walgreens Boots Alliance. In addition, CVS Health decides to offer CBD topicals all over its 800 stores and Walgreens Boots Alliance is selling CBD-containing topicals across 1500 of its stores in the U.S.

On the other hand, the existence of strict regulations and the high cost of cannabidiol products are some of the major factors limiting the growth of the market. In addition, the absence of legalization initiatives in many Asian and African countries is another main factor impeding market growth. Additionally, due to the increased adoption for a wide range of medical conditions, cannabidiol-based products have gained traction in recent years. This has opened the door for illegal manufacturers to create synthetic medicines that do not include cannabidiol but do contain chemical compounds that have similar benefits to cannabidiol but are also harmful to the body. These unauthorized products are less expensive than the originals and claim to have a higher concentration of Cannabidiol, which may be used to treat a variety of health issues. For instance, as of February 2020, around 68 people died due to the consumption of synthetic cannabis in the U.S. with more than 2800 patients hospitalized due to vaping, e-cigarette, and use-associated lung injury. This is restricting the demand for the market.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

CBD Oil & CBD Consumer Health Market - The global CBD oil & CBD consumer health market size to be valued at USD 123.2 billion by 2027 and is expected to grow at a compound annual growth rate (CAGR) of 25.6% during the forecast period.

CBD Consumer Health Market - The global CBD consumer health market size was valued at USD 8.2 billion in 2019 and is projected to expand at a compounded annual growth rate (CAGR) of 24.6% from 2020 to 2027.

Cannabidiol Market Segmentation

Grand View Research has segmented the global cannabidiol market based on source type, distribution channel, end-use, and region:

Cannabidiol Source Type Outlook (Revenue, USD Million, 2017 - 2030)

• Hemp
• Marijuana

Cannabidiol Sales Type Outlook (Revenue, USD Million, 2017 - 2030)

• B2B
• B2C

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

• Medical
• Personal Use
• Pharmaceuticals
• Wellness

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

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

Market Share Insights

January 2021: Nano Hydrate has introduced product marketing services that use innovative technologies to promote natural treatment through pharmaceutical-grade cannabidiol branding services.

Key Companies profiled:

Some prominent players in the global cannabidiol market include:

• ENDOCA
• Cannoid, LLC
• Medical Marijuana, Inc.
• Folium Biosciences
• Elixinol
• NuLeaf Naturals, LLC
• Isodiol International, Inc.
• Pharmahemp d.o.o. 

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

Microdermabrasion Devices Market Business Drivers, Top Companies and Competitive Analysis

Microdermabrasion Devices Industry

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. Rising cases of skin conditions and increased obsession with flawless skin are the key market growth drivers. The market witnessed a significant setback due to the COVID-19 pandemic. Since the majority of cosmetic products were not medical necessities, lockdown imposed in several countries led to the closure of beauty salons & med spas, dermatology clinics, and retail stores. However, the incidence of several skin conditions like contact dermatitis, seborrheic dermatitis, acne, etc. has increased during the COVID-19 pandemic.

As microdermabrasion has proven to help treat acne and acne scarring, the demand for the procedure will likely increase. Many esthetic practitioners predict that there can be a significant increase in patient footfall post-pandemic. Various factors, such as a considerable increase in video calls and the benefit of discreet recovery at home, are boosting the market growth post-pandemic. Moreover, the growing geriatric population is also estimated to fuel the industry growth over the forecast period due to increasing demand for anti-aging treatment and procedures like wrinkles, age spots, etc. This ultimately increases the demand for microdermabrasion devices, thereby driving the market. Furthermore, advanced microdermabrasion devices are expected to gain more popularity among individuals, thus positively impacting the market growth.

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

The crystal microdermabrasion device segment in the U.S. is expected to grow at a CAGR of 8.9% during the forecast period. Microdermabrasion is a minimally abrasive esthetic treatment that uses a microcrystal that gently removes the outer layer of the skin. Microdermabrasion procedure triggers a wound response in the skin, which allows the skin to repair itself, making it smoother and more elastic, giving a healthier appearance. The rise in skin-related conditions increased consumer disposable income, and global acceptance of non-invasive procedures for skin beautification are a few other drivers of the market. The increasing demand for skin procedures is estimated to result in dermatologists offering higher-margin procedures.

The American Society of Plastic Surgeons reported that in 2020 around 522,693 microdermabrasion procedures were carried out in the U.S. Social media and globalization have triggered a need to have beautiful and flawless skin, especially amongst women, thus fueling the market growth. For instance, an article published by Medical News Today mentions that women with low self-esteem and high media exposure are more prone to undergo cosmetic surgery. The COVID-19 pandemic negatively impacted several industries including the market. Initially, the lockdown and supply chain disruptions had negatively affected the dermatology devices market. Short-term negative growth was observed in the market due to almost the entire suspension of non-COVID-19-related surgeries, limited operations of manufacturing, and disruption in the supply chain. According to the American Society of Plastic Surgeons, microdermabrasion procedures decreased by 40% in 2020 as compared to 2019. This indicated that the demand for the procedure decreased in 2020, negatively affecting the overall market.

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

Chemical Peel Market - The global chemical peel market size was valued at USD 1,763.7 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2030.

Microcurrent Facial Market - The global microcurrent facial market size was estimated at USD 372.9 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2030.

Microdermabrasion Device Market Segmentation

Grand View Research has segmented the microdermabrasion devices market on the basis of type, application, end use, and region:

Microdermabrasion Devices Type Outlook (Revenue, USD Million, 2018 - 2030)

• Crystal
• Diamond

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

• Acne & scars
• Photo damage
• Anti-aging
• Hyperpigmentation
• Stretch marks
• Others

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

• Clinics & Beauty Centers
• Home Use

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

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

Key Companies profiled:

Some of the prominent players in the global microdermabrasion devices market include:

• Johnson & Johnson
• Skin for Life
• Altair Instruments
• Dermaglow
• PMD
• Silhouet-Tone
• Lumenis Ltd.
• Koninklijke Philips N.V.
• Envy Medical, Inc.
• The HydraFacial Compan

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

Neurothrombectomy Devices Market is majorly driven by Introduction of Technologically Advanced Products

Neurothrombectomy Devices Industry Overview

The global neurothrombectomy devices market size was valued at USD 617.28 million in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.7% during the forecast period. Increasing incidences of acute ischemic stroke on the global scale are majorly driving the market. Furthermore, increased adoption of unhealthy lifestyles and increasing awareness of the disorder among the population is fueling the market growth.

Neurothrombectomy devices are critical in treating ischemic stroke, a commonly occurring phenomenon of stroke among older adults. Modern lifestyle, stress, and dietary habits have been observed to result in the risk of stroke among adults older than 40 years. Stroke is the leading cause of disability among the elderly with around 65% of patients requiring physical assistance/support post an episode of stroke. According to WHO, approximately 15 million people worldwide are expected to suffer from stroke, each year. Since the neurothrombectomy procedure improves functional outcomes and lowers the mortality rate in patients, therefore, it is the most preferred treatment for acute ischemic stroke. Thereby, boosting the market growth during the forecast period.

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

The outbreak of COVID-19 has negatively impacted the market by directly affecting the demand & production, creating a disruption in the supply chain and increasing the financial burden on firms. The impact of the outbreak on the market varies as per the country, depending on the local state of health systems and the actions taken to combat the pandemic. Neurocare and neurosurgeons have been adversely impacted by the pandemic. To reduce the spread of the coronavirus, brain surgeries have frequently been postponed or even canceled during this timeframe. In worst-affected nations, such as the U.S., Russia, India, Brazil, France, U.K., Italy, and Spain, neurosurgical operations decreased by 55%.

However, according to a research study “COVID-19 and Hospital: A review” published in Elsevier journal (International Hemorrhagic Hospital Association) (Jan 2021), up to 36% of hospitalized COVID-19 patients might exhibit neurological symptoms and there were several cases related to ischemic & hemorrhagic infarction. These findings also suggest that COVID-19 might enhance sales in the neurology industry, especially for neurothrombectomy devices. Thus, these factors are expected to create lucrative opportunities for the market to grow in the near future, providing profitable opportunities for key players post COVID-19.

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

Medical Suction Devices Market - The global medical suction devices market size was valued at USD 1.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030.

Surgical Snares Market - The global surgical snares market size was valued at USD 920.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.4% from 2021 to 2028.

Neurothrombectomy Devices Market Segmentation

Grand View Research has segmented the global neurothrombectomy devices market, based on product, end-use, and region:

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

• Clot Retrievers
• Aspiration/Suction Devices
• Vascular snares

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

• Hospitals
• Emergency Clinics
• Ambulatory Surgical Centers

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

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

Market Share Insights

April 2021: The Society of Neurointerventional Surgery (SNIS) and NeuroPoint Alliance (NPA) collaborate with the Society of Vascular and Interventional Neurology (SVIN) to the NeuroVascular Quality Initiative-Quality Outcomes Database (NVQI-QOD).

April 2019: Stryker launched the Sonopet iQ Ultrasonic Aspirator System at the American Association of Neurological Surgeons annual meeting in San Diego.

Key Companies profiled:

Some of the prominent players in the global neurothrombectomy devices market include:

• Medtronic
• Stryker Corporation
• Acandis GmbH
• Stryker
• Phenox GmbH
• Penumbra Inc.
• Vesalio 

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

Medical Writing Market to Grow Rapidly due to Favorable Environment for Clinical Trials in Developing Regions

Medical Writing Industry Overview

The global medical writing market size was valued at USD 3.5 billion in 2021 and is expected to expand at a CAGR of 10.41% from 2022 to 2030. The high demand for medical writers can be attributed to a rise in CRO outsourcing, increased R&D investments by market players, a favorable environment for clinical study in developing countries, and new medical device regulations.

According to a study conducted in 2018, around 80% of internet users in the U.S. searched online for health-related information. In addition, nearly 60% of social media users rely on health information posted on social media platforms. Doctors can expand their reach for better patient care by engaging with patients on these platforms. Hence, the demand for online medical writing is increasing. However, the information posted on such forums should be by medical writing guidelines.    

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

In recent years, pharmaceutical companies have adapted their advertising strategies to improve patient outreach. In addition, the growing influence of social media on customers’ decisions has compelled pharmaceutical and biotechnology companies to reconsider their marketing strategies. Hence, the robust growth of health and wellness-related blogs is expected to boost the demand for scientific writing.

Regulatory authorities want a thorough methodology for all phases of product development, which complicates the approval process boosting the market growth in the coming years. Additionally, insurance companies want drug information in order to establish reimbursement policies. As a result, pharmaceutical companies are finding it difficult to adhere to industry standards.

The pharmaceutical industry spends thrice the amount spent on R&D in other high-tech industries such as computer & software services. As per the Congressional Budget Office (CBO) report, R&D spending on pharmaceuticals reached USD 83 billion in the U.S. in 2019. Around 30 top pharmaceutical companies have collaborations with at least one CRO to maintain their product portfolios.

R&D activities provide market players with a competitive edge in the market. There were a total of 62,092 recruiting studies as of March 24, 2021, according to data given by ClinicalTrails.gov. Top pharmaceutical, medical devices, and biotechnology companies spend a significant share of their revenues on R&D activities to maintain their position in the market by introducing innovative products.

There is a new trend in the market of multiple strategic relationships, wherein each CRO provides a single function and multiple service providers are maintained. Clinical trials are increasing in number as a result of increased R&D investments. However, the number of clinical writers is not increasing at the same rate, resulting in the shortage of skilled writers in the field of medicine, which is expected to increase the scope for new writers in the field of medicine. 

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

Healthcare Contract Research Organization Market - The global healthcare contract research organization market size was valued at USD 42.3 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030.

Medical Device Contract Research Organization Market - The global medical device contract research organization market size was valued at USD 7.21 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.8% from 2023 to 2030.

Medical Writing Market Segmentation

Grand View Research has segmented the medical writing market based on type, application, end-use, and region:

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

• Clinical Writing
• Regulatory Writing
• Scientific Writing
• Others

Medical Writing Application Outlook (Revenue, USD Million, 2016 - 2030)

• Medical Journalism
• Medical Education
• Medico Marketing
• Others

Medical Writing End-Use Outlook (Revenue, USD Million, 2016 - 2030)

• Medical Device/Pharmaceutical & Biotechnology Companies
• Contract Research Organizations & Others

Medical Writing Regional Outlook (Revenue, USD Million, 2016 - 2030)

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

Market Share Insights

June 2019: Quanticate expanded its global reach in North America by opening a new office in Toronto. The company would provide medical writing as one of the services from its Toronto office.

June 2018: LabCorp acquired Sciformix Corporation, a scientific process outsourcing company. This acquisition strengthens the regulatory and pharmacovigilance solutions portfolio of Covance, Inc.

Key Companies profiled:

Some of the prominent players in the medical writing market include:

• Parexel International Corporation
• Trilogy Writing & Consulting GmBH
• Freyr
• Cactus Communications
• Labcorp Drug Development
• IQVIA Holdings Inc.
• Omics International
• Synchrogenix
• Siro Clinpharm Private Limited
• Quanticate
• Inclin, Inc.

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