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Real World Evidence Solutions Market Size to Surpass USD 36.24 billion

According to Fortune Business Insights, global real world evidence solutions market size was valued at USD 15.52 billion in 2022 and is projected to grow from USD 16.13 billion in 2023 to USD 36.24 billion by 2030, exhibiting a CAGR of 12.3% during the forecast period.

The introduction of advanced real world evidence solution analytics has made real world data an even more powerful resource for pharmaceutical and medical device companies. Advanced real world evidence solutions analytics include predictive models, machine learning, probabilistic causal models, and unsupervised algorithms to extract meaningful data from rich data sets.

This information is provided by Fortune Business Insights™ in its research report titled “Real World Evidence Solutions Market, 2023-2030.”

Key Takeaways:

Discover the Leading Players Featured in the Report:

Leading Players in Real World Evidence Solutions Market are IQVIA Inc. (U.S.), IBM (U.S.), Cognizant (U.S.), Syneos Health (U.S.), Oracle (U.S.), Clinigen Limited (U.K.), Icon plc (Ireland), Optum Inc. (United Health Group) (U.S.), Flatiron Health (F. Hoffmann-La Roche) (U.S.), Thermo Fisher Scientific Inc. (U.S.), Parexel International Corporation (U.S.), SAS Institute Inc. (U.S.), Perkin Elmer Inc. (U.S.), Cegedim Health Data (France)

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Laparoscopy Instruments Market Size worth USD 25.26 Billion

The global laparoscopy instruments market size was valued at USD 12.88 billion in 2021. The market is projected to grow from USD 14.13 billion in 2022 to USD 25.26 billion by 2029, exhibiting a CAGR of 8.7% during the forecast period.

This information is provided by Fortune Business Insights, in its report titled, “Laparoscopy Instruments Market, 2022-2029.”

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Drivers and Restraints:

Demand for Instruments Will Rise as Laparoscopic Procedures Backed by Surged Usage

A range of medical disorders are treated by laparoscopy, both for diagnosis and treatment. A laparoscope and other surgical tools are inserted by the doctors during these procedures through one or more small incisions made in the patient's abdomen. The use of minimally invasive procedures has grown dramatically during the past 10 years. The increased usage of laparoscopic surgery is a result of its many added advantages. These factors are expected to boost the laparoscopy instruments market growth.

COVID-19 Impacts:

COVID-19 Pandemic Cancelled Elective Surgeries and Negatively Impacted Market

The global landscape of medical procedures has been drastically altered by the COVID-19 pandemic. Due to a number of problems, including procedural prioritization, workforce and staffing challenges, intraoperative viral transmission risk, and modifications to perioperative practice, the COVID-19 greatly impeded surgical procedures. During the pandemic, many businesses with a line of laparoscopic tools saw a decline in the demand for their goods.

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Foot Orthotic Insoles Market Size worth USD 6.15 Billion

The global foot orthotic insoles market size was valued at USD 3.49 billion in 2021. The market is projected to grow from USD 3.93 billion in 2022 to USD 6.15 billion by 2029, exhibiting a CAGR of 6.6% during the forecast period. This information is provided by Fortune Business Insights, in its report titled, “Foot Orthotic Insoles Market, 2022-2029.”

Key Industry Development:

February 2022: Digital Orthotics Laboratories Australia Pty Ltd. unveiled a novel DOLA iPhone scanning aspect. The customer would be able to scan, suggest, and order orthotics utilizing iPhone.

Request a Sample Copy of the Research ReportFoot Orthotic Insoles Market

Increasing demand for custom-made foot orthotics is fueling the market growth. These products are custom-made after a complete evaluation of the foot structure of the user. Tailor-made orthotics have clinically proven advantages over prefabricated ones in terms of better pain management and comfort. There is an increasing demand for 3D printed orthotics among end-users. These are thinner as compared to traditional ones, with increased gait efficiency and proprioception, which is boosting the market growth.

Increasing adoption of eco-friendly materials in manufacturing orthotic insoles is opening new avenues for growth. Favorable reimbursement policies in developed countries, growing investments by key industry players, and increased spending on research and development are expected to boost revenue in the coming years.

Report Coverage:

The report offers a rounded review of the market along with current trends and future predictions to inaugurate proximate investment gains. A detailed examination of any forthcoming prospects, threats, competitions or driving aspects is also cited in the report. Step by step, methodical regional analysis is presented. The COVID-19 impacts have been added to the report to aid investors and business experts to understand the jeopardies better. The indispensable players in the market are recognized, and their strategies to reinforce the market growth are shared in the report.

Effortless Accessibility of Ethyl-vinyl Acetate Accounted for Segment’s Greatest Market Share in 2021

Based on material, the market is segmented into thermoplastics, Ethyl-vinyl Acetate (EVA), foam, composite carbon fiber, and others. The EVA segment is responsible for majority portion of the market.

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Europe Prescription Spectacles Market Reach USD 31.89 Billion

The Europe prescription spectacles market size is expected to reach USD 31.89 billion by 2027 while exhibiting a CAGR of 5.2% between 2020 and 2027. This is attributable to the increasing prevalence of ocular disorders and the growing adoption of mobile phones and laptops that drive the demand for innovative prescription spectacles in Europe. This information is published by Fortune Business Insights, in its latest report. The report further mentions that the market stood at USD 23.92 billion in 2019.

Closure of Shops to Lead to Declining Sales in the Global Market for Europe Prescription Spectacles

Several European countries are under lockdown owing to the widespread effects of the global pandemic that has taken several lives and many more under quarantine in the region. This has led to the closure of several industrial operations and other activities. Additionally, the postponement of optical surgical procedures, closure of optics, and other factors have led to reduced generation of sales revenue that is affecting the market negatively. However, adoption of advanced technology such as telemedicine, and the growing focus on sales through online channels will favor the market growth in the forthcoming years.

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Prescription spectacles are used to correct refractive error in the person and further aids in improving his poor vision. The increasing rate of people suffering from impaired vision is due to several factors such as hyperopia, myopia, and presbyopia among the people that drives the demand for innovative Europe prescription spectacles range.

Increasing Incidence of Ocular Disorder to Augment Growth

According to the report by the European Blind Union, it is estimated that around 30 million people in Europe suffer from blindness and partial sightedness. That is about 1 in 30 Europeans experiencing vision loss. The increasing prevalence of ocular disorder amongst the population is propelling the manufacturers to boost the Europe prescription spectacles sale by introducing innovative products. Moreover, the growing adoption of mobiles and laptops owing to the increasing work from culture amid COVID-19 is expected to contribute to the Europe prescription spectacles market growth during the forecast period.

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More Than 55 Years Segment Held 43.4% Market Share in 2019

The more than 55 years segment, based on age group, held a market share of about 43.4% in 2019 and is likely to dominate the global market for the Europe prescription spectacles in the forthcoming years. This is ascribable to factors such as the presence of a higher proportion of the population coming under this age bracket in Europe.

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US Behavioral Health Market Size worth USD 105.14 Billion in 2029

The US behavioral health market size hit USD 76.44 billion in 2021. The market value is slated to rise from USD 79.69 billion in 2022 to USD 105.14 billion by 2029, exhibiting a CAGR of 4.0% during the forecast period. As a result of the adoption of supportive federal and state policies, mental health services are expanding at an impressive rate, says Fortune Business InsightsTM in its report titled, “US Behavioral Health Market, 2022-2029”.

Key Industry Development

June 2022: In order to increase patient access to care, Universal Health Services, Inc. and Trinity Health Michigan formed a joint venture and established a new freestanding inpatient behavioral health hospital in Byron Center.

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Drivers & Restraints

Surge in Physical and Mental Health-related Disorders will Boost the Market

The number of people seeking services and treatment at facilities has increased as a result of the rising prevalence of health issues. In addition, the JAMA Open Network survey discovered that during 2018, the number of ED visits for behavioral disorders services increased by 30%. However, due to lack of money and infrastructure, shortages are much more likely to happen in rural areas of the nation. As a result, the market cannot expand since there are not enough specialists to meet the rising demand.

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Segments

By Type, Mental Health Conditions to Support the Segment

Due to the expanding prevalence of mental diseases in the nation, there is a growing need for healthcare services, which is the primary cause of segmental domination. More than 43.0 million Americans experience mental illness each year, according to the National Alliance on Mental Illness (NAMI).

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Pressure Ulcer Prevention Market Size to Surpass USD 1.43 billion by 2030

According to Fortune Business Insights, the global pressure ulcer prevention market size was valued at USD 1.04 billion in 2022. The market is projected to grow from USD 1.08 billion in 2023 to USD 1.43 billion by 2030, exhibiting a CAGR of 4.0% during the forecast period.

People over sixty-five are more prone to chronic disorders such as diabetes, COPD, and renal failure. This results in long-term hospitalization, which may cause pressure injuries among the aging population. Increasing awareness programs to enhance preventive measures against pressure ulcers is favoring the growth opportunities of the market growth.

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Key Takeaways:

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Driving factor:

Rising Risk of Pressure Ulcers amongst Geriatric & Hospitalized Populace to Propel Market Growth

A substantial proportion of the geriatric population suffers from chronic disorders such as diabetes, renal failure, and COPD. Moreover, the increase in the number of long-term hospitalizations of geriatric populations due to chronic conditions has increased the risk of developing other debilitating complications such as pneumonia, contractures, and pressure ulcers.

On the other hand, emerging nations such as Asia Pacific, Latin America, and Middle East Africa limiting the adoption rate due to the high costs of the devices affecting the pressure ulcer preventive market growth.

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US Healthcare Assets Management Market Size Worth USD 50.00 Billion at 30.9% CAGR

The U.S. healthcare assets management market size is projected to reach USD 50.00 billion by 2027, exhibiting a CAGR of 30.9% during the forecast period. Escalating hospital admissions in the US associated with the coronavirus will spawn lucrative opportunities in this market, states Fortune Business Insights™ in its report, titled “U.S. Healthcare Assets Management Market Size, Share & Covid-19 Impact Analysis, By Product (Radiofrequency Identification (RFID), Real-time Location Systems (RTLS), and Others), By Application (Staff Management, Equipment Tracking, Patient Tracking, and Supply Chain Management), and By End User (Hospitals, Laboratories, and Others), 2020-2027”.

The United States has been one of the worst-hit countries by the COVID-19 pandemic, with the country having over 10 million cases and an average 900 deaths daily. Hospital admissions have skyrocketed across the country. According to the Centers for Disease Control and Prevention (CDC), between 8,600 and 21,000 confirmed coronavirus cases will be reported over the next three weeks in the country. California experienced an astronomical surge in COVID cases in December, with the state administration reporting a staggering shortage of ICU beds.

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Asset tracking has, therefore, become crucial for healthcare facilities amidst the ever-increasing waves of patients. SwipeSense, for instance, distributed asset-tracking tags to its hospital partners to monitor the movement of ventilators in the premises. As a result of the surging demand for healthcare assets management solutions, this market registered an exceptional CAGR of 44.8% in 2020.

Emergence of Healthcare Asset Management Startups to Aid Market Growth

The U.S. healthcare asset management market growth is benefiting due to the rapid emergence and expansion of startups specializing in the development of asset management software and solutions for health facilities. Most of these companies are leveraging artificial intelligence (AI) and machine learning (ML) technologies to create innovative products and enhance the efficiency of managing critical assets in hospitals and clinics.

For example, San Francisco-based Roam Analytics has built an AI platform that utilizes natural language processing to augment the content and structure of patients’ medical records and also provide solutions for data storage and analysis. Florida-based CarePredict offers its AI Eldercare platform to support treatment of senior persons and has also developed a contact tracing solution to identify people the infected person has been in touch with.

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Spectacles Market to Reach USD 141.54 Billion

The global spectacles market is projected to reach USD 141.54 billion, thereby exhibiting a CAGR of 5.7% during the forecast period. Fortune Business Insights™ published this information in a recent report, titled, “Spectacles Market Size, Share & Industry Analysis, By Product Type (Spectacles Frames and Spectacle Lenses), By Modality (Prescription and Over-the-counter) By Distribution Channel (Retail Store, Online Store, Ophthalmic Clinics), and Regional.” The report further mentions that the market stood at USD 91.56 billion in 2018. However, it is expected to gain momentum from the rising prevalence of ocular disorders, such as myopia, hypermetropia, and astigmatism.

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Industry Developments :

July 2019: EssilorLuxottica announced that the company is planning to buy 76.72% stakes in GrandVision, a Dutch optical retailer for an estimated USD 8.8 billion.

November 2019: Snap Inc. launched Snap Spectacles, a smart spectacle that is equipped with two cameras that record and shoot videos.

Key Takeaways :

Discover the Leading Players Featured in the Report:

Zenni Optical Inc., Carl Zeiss, EssilorLuxottica, Warby Parker, Fielmann AG, Ciba Vision, HOYA Corporation, Safilo Group S.p.A., Johnson and Johnson Vision, Other prominent market players

High Demand for Trendy Spectacles Worldwide to Fuel Growth

In the developed nations, namely, the U.K., Italy, France, and the U.S., premium quality spectacle frames have started becoming a major fashion statement. The demand for trendy eyewear is also gradually increasing in the emerging nations on account of rising disposable income. Besides, there is a reduction in the rate of contact lens usage. The masses are inclining rapidly towards spectacles. Apart from that, several companies present in the market are adopting smart business strategies. All these factors are anticipated to boost the spectacles market growth during the forecast period.

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Continuous Renal Replacement Therapy Market to Exhibit 7.5% CAGR

The global continuous renal replacement therapy (CRRT) market is set to be positively impacted by rising technological advancements by renowned acute therapy manufacturers to offer enhanced dialysis care worldwide. Also, the expansion of extracorporeal therapies taking place in the ICU would affect the market positively. This information is given by Fortune Business Insights™ in a recent report, titled, “Continuous Renal Replacement Therapy (CRRT) Market Size, Share & Industry Analysis, By Product (Systems, and Consumables), By Modality (Slow continuous ultra-filtration {SCUF}, Continuous Venovenous Hemofiltration {CVVH}, Continuous Venovenous Haemodialysis {CVVHD}, and Continuous Venovenous Hemodiafiltration {CVVHDF), and Regional Forecast, 2019-2026.” The report further mentions that the CRRT market size was USD 845.7 million in 2018, and is projected to reach USD 1,502.1 million by 2026, exhibiting a CAGR of 7.5% during the forecast period.

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Highlights of the Report:

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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Airway Management Devices Market Size to Hit USD 2.55 Billion

The global airway management devices market size was valued at USD 1.81 billion in 2021 and is projected to reach a valuation of USD 1.89 billion in 2022. The market is expected to reach USD 2.55 billion by 2029 with a CAGR of 4.4% during the forecast period. Owing to rising cases of chronic diseases such as chronic obstructive pulmonary disease (COPD), cancer, chronic lung diseases, and others have put emphasis on better treatment of such conditions. Rising number of joint ventures and start-ups is projected to aid market development. Fortune Business Insights™ shares this information in its report titled “Airway Management Devices Market, 2022-2029.

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Key Industry Development

Drivers and Restraints

Rising Number of Joint Ventures and Startups To Propel The Demand For Product

Rising number of joint ventures and startups in the industry are anticipated to drive the airway management devices market growth. Number of market players have been focusing on producing airway devices which are technologically advanced along with development of new R&D centers. Additionally, rising production by key players and approval from regulatory bodies for low-cost devices is expected to boost market growth. In April 2021, Medtronic launched the largest R&D center in India to launch new devices, advancing new technologies in surgical navigation and imaging, airway devices, ventilators, and many others.

However, complications such as regurgitation and aspiration of gastric contents, compression of vascular structures, trauma and nerve injury are expected to limit the market growth.

COVID-19 Impact:

Postponements of Non-Essential Surgeries During Pandemic Led to Decline in the Market Progress

The COVID-19 pandemic led to the decline in market growth for airway management devices in 2020. Various countries across faced challenges in accessing medical care and treatment due to postponements & de-prioritization of non-essential surgeries. In 2021, according to Centers for Disease Control and Prevention (CDC), the U.S. emergency department (ED) visits declined by 42% from for some time in 2020, after the declaration of a national emergency for COVID-19 pandemic. As per the estimates, ED visits from December 2020 to January 2021 were 25% lower than during the same months in 2019.

Segmentation

Infraglottic Devices To Lead With Rise in Chronic Respiratory Disorders

On the basis of type, the market is divided into infraglottic devices, supraglottic devices, laryngoscopes, and others. Infraglottic devices held the largest share in the year 2021 due to rise in the chronic respiratory disorders and adoption of such devices by healthcare providers in intensive care units.

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Critical Care Antiarrhythmic Drugs Market Size Worth USD 1,319.7 Million at 5.6% CAGR

The global critical care antiarrhythmic drugs market size is projected to reach USD 1,319.7 million by 2027, exhibiting a CAGR of 5.6% during the forecast period. Increasing prevalence of cardiovascular diseases (CVDs) around the world will be a major growth determinant for this market, highlights Fortune Business Insights™ in its report, titled “Critical Care Antiarrhythmic Drugs Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Beta Blockers, Calcium Channel Blockers, Sodium Channel Blockers, Potassium Channel Blockers, and Others),  By Disease Type (Supraventricular Arrhythmias, Ventricular Arrhythmias, and Others), and Regional Forecast, 2020-2027”.

According to the World Health Organization (WHO), CVDs are the premier cause of global deaths, killing nearly 17.9 million people worldwide in 2016. Atrial fibrillation (AF) is the most frequent and the most commonly observed CVD. For example, the American Heart Association estimates that AF affects around 2.2 million people in the United States. More importantly, the incidence of AF is steadily rising. A study conducted by the Erasmus Medical Center in the Netherlands found that approximately 17.9 million people across Europe will be afflicted by AF in 2060. A similar epidemiological study conducted by researchers at the University of Arkansas revealed that in the US, between 6 million and 12 million people will suffer from AF by 2050. These projections indicate a steady rise in the demand for critical care antiarrhythmic drugs in the forthcoming decades as cardiac arrhythmia can turn fatal if not treated with effective medication in time.

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As per the report findings, the global market value stood at USD 796.8 million in 2019. The report also shares market information in the following manner:

Growing Importance of Heart Health amid COVID-19 to Boost the Market

The COVID-19 pandemic has reiterated the importance of maintaining heart health as patients suffering from heart-related comorbidities have been found to be at high risk of contracting the coronavirus. Early evidence from China’s Hubei and Wuhan provinces shows that 16.7% of the hospitalized patients and 44.4% of patients in intensive care units (ICUs) had cardiac arrhythmia. Another study conducted by researchers from the Perelman School of Medicine at the University of Pennsylvania in July 2020 revealed that the onset of the COVID-19 infection was associated with a high incidence of cardiac arrhythmias in patients.

While the coronavirus is not solely responsible for the occurrence of cardiac abnormalities, the infection, in many cases, has worsened the preexisting conditions, leading to higher mortality rates among patients with chronic heart diseases. The coronavirus has, thus, heightened the adoption of critical care anti-arrhythmogenic drugs worldwide. The global market has, as a result, registered a CAGR of 12.9% in 2020.

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Preeclampsia Diagnostics Market Size worth USD 1.24 Billion by 2029

The global preeclampsia diagnostics market size was valued at USD 1.03 billion in 2021 and reached USD 1.07 billion in 2022. The market is expected to reach USD 1.24 billion by 2029, exhibiting a CAGR of 2.2% during the forecast period. The rising prevalence of preeclampsia and increasing technological advancements in diagnostics procedures are expected to foster industry growth. Fortune Business Insights™ presents this information in its report titled “Preeclampsia Diagnostics Market, 2022-2029.”

Key Industry Development

  • July 2021: LifeCell Diagnostics announced a comprehensive preeclampsia screening in India. The advanced screening detects biomarker, sFLT-1 (soluble FMS-like tyrosine kinase-1), which enables the prediction of the disease and helps in accurate diagnosis even in the third trimester.

Drivers and Restraints

Development of Innovative Preeclampsia Diagnostic Procedures to Propel Market Progress

Preeclampsia diagnostics are a set of diagnostic procedures designed to protect mothers and infants from preeclampsia disorders. The development of innovative preeclampsia diagnostic procedure is expected to enhance the adoption of the diagnostic procedure. The rising prevalence of the disorder in pregnant women across the globe is expected to enhance the diagnostics’ adoption. For example, as per the NCBI’s research published in July 2021, preeclampsia occurrence in France reached 8.5% among pregnant women. These factors may drive the preeclampsia diagnostics market growth.

However, lack of awareness regarding preeclampsia is expected to hinder the industry’s growth.

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COVID-19 Impact

Robust Demand from Healthcare Sector Fostered Market Progress

This market was positively impacted during the pandemic due to the rising demand for preeclampsia diagnostics procedures from the healthcare sector. The increasing cases of preeclampsia led to the procedure's rapid adoption. Further, government guidelines such as amendments encouraging the adoption of such procedures are expected to enhance the demand for the product. Moreover, market players experienced a huge spike in revenues due to the procedure’s extensive adoption. For example, PerkinElmer Inc. experienced massive growth of 31.2% during 2020, reaching USD 3,782.8 million. These factors influenced the industry growth during the pandemic.

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Nasal Drug Delivery Market to Exhibit 7.3% CAGR

The global Nasal Drug Delivery Market size is prognosticated to reach USD 73.84 billion by 2026 attributable to the increasing number of the patient population and the rising prevalence of pulmonary disorders worldwide. This information is provided in a recently published report by Fortune Business Insights™ titled, “Nasal Drug Delivery Market Size, Share and Global Trend By Type (Dry Powder Inhalers (DPIs), Metered Dose Inhalers (MDIs), and Nebulizers), By Application (Asthma, Chronic Obstructive Pulmonary Disease (COPD), and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and Regional Forecast, 2019-2026.” As per the report’s description, the market size was USD 42.38 billion in 2018 and is likely to exhibit a CAGR of 7.3% between 2019 to 2026. Request a Sample Copy of the Research Report

The report provides a comprehensive overview of the market for nasal drug delivery and its various growth parameters. These include factors driving, challenging, and providing opportunities to the market. Besides this, the report discusses the competitive landscape and lists the names of players operating in the market and the major strategies adopted by them. Adoption of different strategies will help key players to strive for the leading position in the market. It also discusses the key segments in the market based on factors such as type, application, end user, distribution channel, and others. Additionally, the report provides insights into the market, major industry developments, and current Nasal Drug Delivery Market trends. It is available for sale on the company website.

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Market Drivers: Rising Awareness About Nasal Drug Delivery and its Benefits will Help Market Gain Impetus

The increasing prevalence of respiratory disorders among people is a major factor boosting this market growth. Additionally, the increasing prevalence of asthma and chronic obstructive pulmonary disease (COPD) cases is also aiding to the expansion of the market for pulmonary drug delivery devices. Besides this, analyst at Fortune Business Insights™ says, “The increasing patient population and the rising demand for inhalers are encouraging companies to set up new manufacturing units. This is further expected to drive the overall market in the forecast period.”

On the flipside, lack of awareness about inhalers along with their usage, especially amongst the older population may cause hindrance to the overall market. Nevertheless, the rising awareness about the benefits of DPIs and MDIs is expected to help increase their popularity in the market. This, as a result, will give significant impetus to the market in the long run.

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US Dialysis Services Market to Reach USD 32.46 Billion

The US Dialysis Services Market size was USD 25.87 billion in 2020. The market is expected to grow from USD 26.20 billion in 2021 to USD 32.46 billion in 2028 at a CAGR of 3.11% in the 2021-2028 period. This information is provided by Fortune Business Insights™ in its report titled, “US Dialysis Services Market, 2021-2028.”

Key Development:

February 2021: DaVita gained first position by comprising a safe telehealth platform called as DaVita Care Connect™, into its home dialysis segment. It is one of the numerous connective technologies in its collection of services intended to advanceresults and the care experience for patients determining to treat at home.

As per our report, the number of patients undergoing dialysis continues to riserapidly in the U.S. each year and this is expected to boom demand of the service. The unhealthy and irregular lifestyle habits has too contributed in kidney failure and therefore raised the need to get dialysis. For example, according to the national kidney foundationin 2018, about 785,883 Americans suffered kidney failure, and 554,038 of those patients underwent dialysis procedure. This is estimated to boost the US Dialysis Services Market growth during the forecast period.

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Demand for Dialysis Service to Decline Backed by Transformation of Clinics to COVID-19 Care Center

The COVID-19 outbreak has powerfullyimpacted the aspects of the healthcare sector worldwide. Dialysis facilities are shutdown or rehabilitated into COVID-19 centersin order to suffice with the surging patient capacity. Currently in thescenario of the U.S. dialysis services, several facilities offeringservices to the sufferers with End-Stage Renal Disease (ESRD)confronted challenges in protecting patients and its workforce while delivering clinical help. Nonetheless, numerous companies presenting virtual healthcare facilitiesobserved a sturdy growth in their sales.

For example, in December 2020, Baxter International, which is a global reformer in renal care, launched Peritoneal Dialysis Excellence Academy, which is a novel virtual training space and educational center to aid nurses develop their expertise to presentfinest patient care in this industry.

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Report Coverage

The report presents a detailed study about its segments and the market overview. A considerate summary of the ongoing market trends as well as the forthcoming opportunities is mentioned in the report. Besides, it offers a meticulous study of the regional insights and their role in forming thegrowth of the U.S. dialysis servicesindustry. The COVID-19 impacts have been mentioned in the report to aid stakeholders and business owners with a better comprehension of the probable risks prevailing in the market. The report further discusses about the important players and their winning strategies to stay in the leading position.

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Non-Small Cell Lung Cancer Therapeutics Market to Expand Impressively at 13.4% CAGR

The global non-small cell lung cancer therapeutics market is growing impressively due to recent surge in adoption of targeted therapy for treating non-small cell lung cancer. According to a report published by Fortune Business Insights, titled ‘Non-Small Cell Lung Cancer Therapeutics Market: Global Market Analysis, Insights and Forecasts, 2019-2026,’ the market value will rise substantially from US$ 16,011.7 Mn in 2018 to US$ 43,713.1 Mn by 2026. Fortune Business Insights has further predicted the market to exhibit an impressive CAGR of 13.4% between 2019 and 2026 due to exceptional advancements in targeted therapy in recent years. Such high growth can be attributable to the increasing demand for chemotherapy and targeted therapy. Furthermore, advantages of targeted therapy over other alternatives are in plenty. Driven by this, the demand for targeted therapy for diagnosis will increase, which in turn spurs growth in the global non-small cell lung cancer therapeutics market.

Lung cancers account for majority of the cancer-related deaths, worldwide. Furthermore, non-small cell lung cancer account for more than 80% of the total cancer cases. Such high mortality rates have created an awareness among people, subsequently increasing demand for detection of lung cancer at an early stage. With growing demand for early disease detection, companies are increasingly investing towards developing efficient diagnosis methods and tools.

Incorporation of Biological Therapies in Non-Small Cell Lung Cancer Therapeutics to Enable Growth

In recent years, the demand for efficient diagnosis method to treat non-small lung cancer is rising at a fast pace. Clinical studies indicated that biological therapies have massively reduced mortality rate of those affected with non-small cell lung cancer. The development of novel biological therapies has been hugely beneficial in treating non-small cell lung cancer (NSCLC). Biological therapies have had a positive impact on the molecular subsets of various lung cancer categories. NSCLC treatments have been blessed with various advancements in biological therapy concepts and they are now playing a major part in minimizing symptoms of non-small cell lung cancer as well. Thus, the use of biological therapies had a positive impact on the global NSCLC therapeutics market and is likely to favour growth of this market in the forecast period.

Adenocarcinoma to Emerge as The Leading Segment

According to cancer.org, adenocarcinoma accounted for 40% of all lung cancers. Although prevalence of adenocarcinoma is high, it is the least deadly among all types of lung cancers. Adenocarcinoma allows for easy NSCLC prognosis as it can be detected at a very early stage. Furthermore, adenocarcinoma can be treated easily as they spread at a slower rate than other NSCLCs. High chances of diagnosis of adenocarcinoma is a major factor why adenocarcinoma will emerge as the leading segment in the forecast period, as well.

The report also offers key insights related to an overview of the Non-Small Cell LungCancer Therapeutics Market (2018) - for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, prevalence of non-small cell lung cancer by type, regulatory scenario by key regions, key industry developments, pipeline analysis and overview of current advances in R&D for non-small cell lung cancer therapeutics.

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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US Blood Transfusion Diagnostics Market Size, Share, Growth, Analysis Report 2023

The US blood transfusion diagnostics market size was valued at USD 1.91 billion in 2021. The market is projected to grow from USD 2.20 billion in 2022 to USD 3.58 billion by 2029, exhibiting a CAGR of 7.2% during the forecast period.

This information is presented by Fortune Business Insights, in its report titled, “US Blood Transfusion Diagnostics Market, 2022-2029.”

Key Industry Development:

June 2022: Alba Bioscience Limited (QUOTIENT LIMITED) made an announcement that they have been granted the US FDA sanction for ORTHO Sera and ALBAclone blood grouping reagents.

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Drivers and Restraints:

Rising Demand for Blood and Blood Components to Accelerate the US Blood Transfusion Diagnostics Market Growth

The rising incidence of blood-related diseases such as hemophilia, leukemia, and thrombocytopenia among the general population in the US as well as the quickening rise in chronic diseases are to blame for the rise in the transfusion of blood and blood components.

Additionally, a growth in the prevalence of blood disorders among older patients also contributes to an increase in the demand for blood transfusion diagnostics. Similar to how the number of anemia patients has increased, the need for blood transfusion diagnostic tests has increased across the nation.

Allergies, blood-borne infections, fever, and acute hemolytic responses are occasionally possible side effects of blood transfusions. These transfusion-related side effects could have a detrimental impact on the market's projected growth.

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COVID-19 Impacts:

Market to Witness a Negative Impact due to Decline in Blood Transfusion Procedures

Since COVID-19 had different effects in different markets, the effects on the American healthcare system differed. The US market for blood transfusion diagnostics has shrunk as a result of preventative measures, such as lockdowns, implemented by regulatory agencies to stop the virus's spread.

As blood transfusion diagnostic procedures refer to tests carried out as a prerequisite for surgical and transplantation procedures, the decrease in the number of patients visiting healthcare facilities was accompanied by a large decrease in their frequency. Additionally, the drop in blood donations resulted in fewer blood group typing and screening operations. As a result, the US market shrank as a result of both of these issues.

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OTC Drugs Market Size [2022-2028] worth USD 233.6 Billion

The global OTC drugs market size is projected to grow from USD 157.0 billion in 2021 to USD 233.6 billion in 2028. The rising number of private label products is set to affect growth positively. In the U.S., shares of these products reached 31.0% in 2018 from 26.0% in 2009. Also, numerous companies are collaborating with e-commerce platforms to launch their products on their platforms. Amazon.com, Inc., for instance, introduced Perrigo’s over-the-counter healthcare products in February 2018. Fortune Business Insights™ mentioned this in a published report, titled, “OTC Drugs Market, 2021-2028.” The report further states that the market stood at USD 148.0 billion in 2020. It is set to showcase a CAGR of 5.8% in the forecast period during 2021-2028.

Dr Reddy's Laboratories Unveils Famotidine Tablets in U.S. to Treat GERD

In October 2020, Dr Reddy's Laboratories, a multinational pharmaceutical company headquartered in India introduced the Famotidine tablet, an OTC drug for the treatment of gastroesophageal reflux disease (GERD) in the U.S. The tablets are similar to Pepcid AC, a product of Johnson & Johnson. These will be used to relieve and prevent sour stomach occurring because of drinking or eating certain beverages and foods, as well as heartburn happening because of acid indigestion. This launch would enable the company to fulfil a significant therapy gap created because of the withdrawal of Ranitidine in the U.S. antacids market.

Demand for Nutritional Supplements Increases amid COVID-19 Pandemic Globally

The COVID-19 pandemic has had varied impacts on OTC products worldwide. It has bolstered the demand for nutritional supplements, minerals, and vitamins because of the rising awareness of self-care among people. On the contrary, the surging hygiene measures and precautions to prevent transmission of the coronavirus have resulted in the declining demand for cough and cold medicines. At the same time, drugs required for the treatment of digestives & intestinal remedies and skin problems have also reduced amid the pandemic.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visithttps://www.fortunebusinessinsights.com/over-the-counter-otc-drugs-market-105433

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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