Market Research Blog – Page 11785 – New Product Development

Sports Medicine Market is expected to reach US$ 11.4 Billion by the end of 2032

According to the report, knee & shoulder injuries will account for the increasing sales of sports medicine while the focus of manufacturers will be on the leading regions such as North America, Europe, and Asia Pacific.

Demand for sports medicines is gaining traction as the sports industry is getting back on track after a temporary period of lull, following the COVID-19 outbreak. According to a study by Future Market Insights, the market will showcase recovery 2021 onwards, a trend which is expected to result in accelerating sales through 2031.

As the requirement for sports medicines for various types such as body reconstruction, body monitoring & evaluation, and others is rising again, the market is projected to record robust growth in the coming years.

The latest revised edition of the report on ‘sports medicine’ market study by Future Market Insights (FMI) offers a thorough analysis of the global trends, demand-supply trajectories, and growth & restraining factors for sports medicine suppliers during the forecast period of 2021 to 2031.

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Who is Winning?

The global sports medicine market is fragmented and thriving on the key players. In order to sail through the cut-throat competition, key players are launching diverse range of cost-effective products and services. For instance,

Breg Inc. launched its new brand for Orthopedic Service Lines which include OrthoSelect® Consulting, BregBill Programs, Breg Vision® Software, and others on 7^thMarch, 2018
Medtronic Plc. launched its new range of Spinal and Orthopaedic Products and solutions such as T2 Stratosphere, Electrosurgical Products, and others a couple of years back

Key Takeaways from Market Study

The global sports medicine market is forecast to expand at over 7.5% CAGR through 2031
High demand for body reconstruction and body support & recovery type of sports medicine to fuel the sales
Rise in application in knee, shoulder, and ankle & foot injuries to cater to the growth of manufacturers
The United States to maintain its lead in the world’s largest sports medicine industry North America
Germany remains dominant in Europe sports medicine industry
Asia Pacific to emerge a highly lucrative market for sports medicine with its epicenters in China and India
Japan, the United Kingdom, Canada, France, Italy, and a few other countries to maintain positive market outlook

Knee & Shoulder Injuries Fuelling Sports Medicines Sales

Rise in application of body reconstruction, body recovery, and other type of sports medicine in knee & shoulder injuries is becoming prominent around the globe. This in turn is set to raise the profit margins of suppliers in the near future.

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According to the National Health Statistics Report published on 18^th November, 2016, an average annual estimate of 8.6 million sports and recreation related injuries were reported among which knee & shoulder injuries were of the highest number. As stated in the report, one-half of the injury episodes resulted in treatment at a doctor’s office or health clinic while rest half needed emergency care or hospitalization. These figures represent why this segment is gaining momentum in terms of application.

Key Market Segments Covered in Sports Medicine Industry Research

By Product:

Body Reconstruction Products
- Arthroscopy Devices
  - Arthroscope and Visualization System
  - Resection System
  - Fluid Management System
  - Implants
  - RF System
  - Drills and Fixation System
- Meniscal Repair Device
- Prosthetic Devices
- Orthobiologics
Body Support and Recovery Products
- Braces and Supports
- Compression Clothing
- Accessories

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By Application:

Knee Injuries
Shoulder Injuries
Ankle & Foot Injuries
Back & Spine Injuries
Elbow & Wrist Injuries
Hip Injuries
Others

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Knee Reconstruction Devices Market is expanding at a healthy CAGR of close to 6% through 2031

A rapidly growing demographic of geriatrics, advances in joint reconstruction technologies and procedures and higher incidence of osteoarthritis are key factors that support the developments in the global knee reconstruction devices market. With these trends unlikely to change in the near future, Future Market Insights (FMI), in a new report has estimated the market to expand at a healthy CAGR of approximately 6% between 2021 and 2031.

According to the Center of Orthopedic & Neurosurgical Care & Research, approximately a million hip and knee replacement surgeries are performed in the United States every year, with nearly half the population affected by osteoarthritis during their lives.

The covid-19 pandemic is expected to negatively impact the knee reconstruction devices market. Restrictions on elective medical procedures and the resultant decline in demand, coupled with disruptions to supply chains is anticipated to hinder market growth. Efforts to improve vaccination rates will contribute to a faster recovery through 2021 and beyond.

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On the other hand, high costs of purchase, strict regulations for manufacturers and bio-compatibility issues are anticipated to remain a matter of concern for market players in the coming decade.

Key Takeaways from Knee Reconstruction Devices Market Study

Knee reconstruction devices market will expand steadily with a CAGR of approximately 6% through the end of 2031.
The U.S. holds the lead in the North American market, accounted for by around a million reconstruction procedures being conducted in the country annually.
Rising cases of ACL injuries and chronic knee pain will drive sales in the U.K., helping the country to hold a prominent position in the Europe Market.
Faster approvals and FTAs will generate key opportunities in Mexico and Brazil.
Expanding investments into the healthcare sector will emerge as chief growth driver in China. Efforts towards medical tourism will contribute to growth.

“Players in the knee reconstruction devices market are increasingly looking to invest in the R&D efforts to improve the existing offerings. Manufacturers are investing in newer technologies including 3D printing, surgical robotics and artificial intelligence.

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The newer technologies make production cost-effective to use mobile apps allowing surgeons to remotely check changes, offering better healthcare treatments to their patients from mobile devices, creating long term lucrative opportunities,” says the FMI analyst

Developed countries such as the United States are witnessing gradual market growth owing to the introduction and easy access to new products in varying countries. With a rising number of patients availing joint reconstruction procedures the demand in the knee reconstruction devices market will be influenced in the long term. Strict regulations hindering approvals and failed cases of implantation resulting in recalls has become a major challenge for manufacturers, which is likely to remain a matter of concern in the industry for the foreseeable future.

Who is Winning?

Major players in the moderately consolidated knee reconstruction devices market are increasingly focused on the development of new products for portfolio expansion, in line with regulatory standards to improve functionality and efficacy in relevant medical procedures, consolidating regional presence.

In December 2020, the FDA granted market authorization for an anterior cruciate ligament implant to treat ACL tears with the new Bridge-enhanced ACL Repair Implant by Miach Orthopedics Inc.
In August 2020, DJO LLC announced the release of 2 new EMPOWR systems including the EMPOWR Partial Knee and EMPOWR Acetabular systems that are designed to restore kinematics through single tray implantation.

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Some of the leading players in the global knee reconstruction devices market include but are not limited to Zimmer, Inc., Stryker Corporation, DePuy Synthes, Smith & Nephew, Corin, United Orthopedic Corporation, Arthrex Inc., Exactech Inc., DJO Global, Japan Medical Dynamic Marketing and Tornier Inc.

Knee Reconstruction Devices Market – Key Segments

Product

Cemented Implants
Cementless Implants
Partial Implants
Revision Implants

End User

Hospitals
Orthopedic Clinics
ASCs

Indication

Osteoarthritis
Rheumatoid Arthritis
Trauma
Others

Region

North America (U.S. & Canada)
Latin America (Mexico, Brazil, Argentina, Chile, Peru, & Rest of LATAM)
Europe (Germany, U.K., France, Italy, Spain, BENELUX, Nordic, Russia, Poland, CIS Countries & Rest of Europe)
Middle East and Africa (GCC Countries, Turkey, South Africa, Israel, & Rest of MEA)
Japan
Asia Pacific excluding Japan (China, India, ASEAN, South Korea, Australia, & Rest of APEJ)

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Peripheral Intravenous Catheter Market is likely to grow at a CAGR of 6.3% through 2032

The global peripheral intravenous catheter market is expected to observe steady growth in 2016, reaching beyond US$ 3.8 Bn by 2016 end. Wide adoption of catheterisation techniques in patient examination, diagnosis, and treatment is anticipated to fuel the demand for PIVC. Rising disease prevalence will play a key role in driving the market growth. North America is likely to remain the largest market; Asia Pacific is expected to emerge at the fastest rate.
Soaring disease prevalence will remain a prominent factor driving the demand for catheterisation, in turn pushing the market for PIVC. Apart from its usage in drug administration, increasing adoption of peripheral intravenous catheter in body fluid collection during a patient’s physical examination, is also identified to be a key driver to market growth.

Prevalence of infections and epidemics are expected to further spur the demand for catheters in hospitals, clinics, ambulatory surgical centres, home healthcare units, and other healthcare centres. In addition to constantly enhancing healthcare infrastructure, the healthcare spending of consumers is also on the rise, which will favour the market growth.

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Technological advancements in PIVC will particularly hold a positive impact on sales, boosting the market. Peripheral intravenous catheter is considered superior to its other counterparts, which will continue to drive adoption as a preferred option over other catheter types, eventually supporting the sales of PIVC.

Moreover, there have been rising efforts toward manufacturing peripheral intravenous catheter using non-irritant, user-friendly material. Moreover, manufacturers are targeting PIVC design improvisation to eliminate the associated complications. This is projected to be a major factor positively influencing the market growth.

A few qualitative and technological complications associated with material composition, design, and after-effects of PIVC are expected to continue affecting mass adoption. In addition, market growth may be restricted due to expensive prices of peripheral intravenous catheter, especially in emerging economies. Conventional PIVC sales can also witness a drop owing to certain stringent medical device regulations in some of the developing countries.

By product, short peripheral intravenous catheter segment will remain dominant over integrated/closed peripheral intravenous catheter segment. Short PIVC segment is further sub-segmented into ported PIVC and non-ported PIVC. While short PIVC segment is expected to register the largest market share of over 71% in 2016, integrated/closed PIVC segment will witness significant Y-o-Y growth of 8.2%. Among the two sub-segments of short PIVC, non-ported PIVC is likely to remain dominant over ported PIVC.

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On the basis of technology, safety peripheral intravenous catheter will continue to gain higher traction than conventional PIVC.

Based on end-user, hospitals segment is likely to generate the maximum PIVC demand. Ambulatory surgical units will also record decent demand. Peripheral intravenous catheter will register maximum revenue sales in 2016 in hospitals, accounting for over 60% market share. Ambulatory surgical units will remain the second most lucrative PIVC end-user segment.

By region, North America is expected to continue the leading position with around 45% share of the entire market revenues in 2016. Europe will continue to be the second largest market for PIVC with a value of over US$ 1.0 Bn in 2016. Asia Pacific is anticipated to emerge as the fastest growing region. Compared to a 5.8% of Y-o-Y of North America, APAC will witness a stronger Y-o-Y growth in 2017 over 2016.

Some of the leading players in peripheral intravenous catheter market, include Becton Dickinson and Company, B. Braun Melsungen AG, Smith Medical, C. R. Bard, Inc., Vygon Group, Terumo Corporation, and Tangent Medical.

Market Segmentation

To understand and assess opportunities in the global peripheral intravenous catheter market, we have divided the report into four sections based on market segmentation as under:

By Product Type

Short PIVC
Ported PIVC
Non-ported PIVC
Integrated/closed PIVC

By Technology

Conventional PIVC
Safety PIVC

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By End-user

Hospitals
Ambulatory surgical centres
Clinics
Home use
Others

By Region

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Prescription Delivery Services Market is set to experience a significant growth of 17.8% CAGR from 2022 to 2030

Timely drug delivery is the cornerstone of an effective healthcare infrastructure. Rising prevalence of chronic and infectious ailments have accelerated production of prescription drugs, prompting vendors to develop effective distribution networks.

Advancements in consumer touch points and supply chains, including e-commerce, convenience stores and retail stores have greatly altered the prescription delivery services landscape. Advancements such as drone-based delivery and tracker based prescriptions are helping usher in smooth customer experience.

Furthermore, advanced prescription delivery systems have not only assisted in providing round-the-clock customer services but also helped manage dosage, therapy adherence and provide feedback to clinicians.

Prescription Delivery Services Market- Key Takeaways

Diabetic prescription drugs to hold major sway, poised to capture 36.7% market share by 2030
Ease of access to drugs addressing chronic conditions is slated to drive retail pharmacy growth to greater heights
North America to expand stupendously at a CAGR of 18.4% from 2020-2030, attributed to the presence of multiple convenience and pharmacy stores
Global prescription delivery services market to reach US$ 434.3 Mn by 2030-end

COVID-19 Impact Insights

The COVID-19 pandemic has generated fertile ground for the prescription delivery services market. The imposition of nationwide lockdowns to enforce social distancing have reduced footfalls across conventional pharmacies. This has compelled patients to rely on online retail platforms to avail their medicines.

Furthermore, heightened vulnerability of geriatrics suffering from co-morbidities to the coronavirus has necessitated stockpiling of essential medicines, thus keeping the need for prescription delivery services afloat throughout the pandemic’s duration. This panic buying behavior shall usher in an 80% y-o-y growth.

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Growth is especially anticipated to be robust across the U.S, China and India, countries with the highest rates of infections. Collectively accounting for 40% of the global infection rate, these countries have witnessed an unprecedented increase in hoarding prescription medicines by individual households. This shall continue until the latter-half of 2021.

Market Witnessing Entry of e-Commerce Players

The Prescription Delivery Service Market is witnessing entry of e-Commerce, pharmacy and retail chains, albeit at a local or regional level. Technological developments, new product launches and collaborations characterize some critical expansion strategies of market players.

Some of the key players in the Prescription Delivery Service Market are: Walgreens Co., Walmart Stores Inc., CVS Health, Giant Eagle Inc., Express Scripts Holding Company, Ali Health and Kroger Co. to name a few.

Besides these established players, several startup companies are also emerging as potential game changers in the industry. These include NetMeds, Kfyao, Capsule, Myra Medicines, NURX, MedAvail, Zipdrug, Insightfil and ScriptDrop to name a few.

Walgreens, a prominent retail pharmaceutical distributor, has a robust presence in the global prescription delivery services market. The company offers refills, auto refills, drug information and home delivery services.

In 2017, the company acquired Rite Aid for a sum of US$ 5.2 billion, resulting in the merger of two of the United States’ three largest pharmacy chains.

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More Insights on the Prescription Delivery Services Market

A recent market study published by Future Market Insights on the Prescription Delivery Services Market includes global industry analysis for 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. The report has been segmented on the basis of disease indication (therapeutic drugs (diabetes, hypertension & cholesterol disorders), wellness supplements, OTC drugs and diagnostic drugs) and distribution channel (pharmacy stores, healthcare institutions, clinics and research institutions) across seven geographies (North America, Latin America, Europe, South Asia, East Asia, Oceania and MEA).

Key Market Segments Covered In Prescription Delivery Services Industry Research

By Disease Indication:

Prescription Drugs
- Diabetes
- Hypertension
- Cholesterols disorders
Wellness Supplement
Diagnostics Kits
OTC Drugs

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By Distribution Channel:

Pharmacy Stores
- Retail Pharmacy
- Drug Stores
Healthcare Institutions
Clinics
Research institutes

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)

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Herbal Medicinal Products Market Scope of Current and Future Industry 2031

Government initiatives undertaken around the world, especially in the West to encourage the use of herbal medicine has resulted in the development of mass distribution networks, increasing prescription of homeopathic medications, and demand for Ayurveda treatments.

According to a recent study by Future Market Insights (FMI), these factors have proven crucial at enabling growth in the herbal medicinal market. Sales of herbal medicines are expected to top US$ 171.62 Bn in 2021, at a CAGR of 7.7% during the forecast period (2021-2031).

Soaring concerns pertaining to adverse effects of allopathic medicines has been causing gradual shift of preference in favor of traditional herbal medicines. These medicines are often used for treatment of ailments including neurological diseases, cough, cold & flu, sexual problems, feminine problems, and metabolic diseases. Herbal remedies are used to maintain health and systemic balance, of body functions without sedation and side effects.

In 2015, La Political de Attention Integral a la Saluda Indigene de FUNASA of Brazil promoted traditional systems of health of indigenous communities. Similarly, the government has recognized homeopathic medicines as a medical specialty and included it in the National Health System. Brazil is currently home to around 12,000 homeopathic physicians and 300 homeopathic pharmacists.

As per the World Health Organization (WHO), around 60% of the world’s population is reliant on herbal medicines for primary health care needs. In developing countries, this number accounts for up to 80%. Around 75% of such sales are made through direct user-pharmacy contacts. The growing trend of online pharmacies and mail-on-order purchases drives the demand for self-medication.

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The global geriatric population is rapidly expanding with higher life expectancy rates. According to the World Bank, in 1990, the average mortality among geriatric world population was around 6 %, which increased to 9.5% in 2020. The prevalence of chronic diseases associated with an aging population portrays the need for effective medications.

Key Takeaways from Herbal Medicinal Products Market Study

Demand for Chinese medicines is expected to grow at 8.2% CAGR through 2031, owing to investments into promotion of traditional Chinese medicine.
Retail pharmacies are projected to capture over 23% of the global market by 2031. This is attributed to availability of consumer health products.
Europe is the largest revenue-generating region for herbal medicinal products, with Germany accounting for nearly 18% of the regional market in 2031.
China holds the leading position in East Asia, and is expected to account for over 49% of the market in 2031.
South Asia is the third most lucrative market with India accounting for over 74% of the share in 2031.

Who is Winning?

Some of the leading manufacturers of herbal medicinal products are focusing on product launch strategies for global expansion objectives, thereby, enhancing their market presence.

In 2021, Arkopharma filed a patent for Quercetin and Kaempferol. These products have a genotoxic potential of plant-based preparations containing free flavones.
In Aug 2020, Young Living Essential Oils launched the Hand-blown Artisan Glass Diffuser, Cassia Oil-new skincare line, as additions to the Savvy Minerals makeup line. The product includes diffusers, new essential oil blends and essential oil-infused wearable rings.

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The key market players covered by FMI include Blackmores Limited, Sanofi-Aventis Healthcare PTY Ltd., Arkopharma SA, Nutraceutical Corporation, STADA Arzneimittel AG, Himalaya Global Holdings Ltd, Integria Healthcare, Boiron Group, Young Living Essential Oils, and Mountain Rose Herbs.

Herbal Medicinal Products Market by Category

Product Type:

Ayurvedic
Homeopathic Medicines
Chinese Medicines
Aromatherapy product

Form:

Capsules/Tablets
Powder
Syrups
Oil and ointment
Others

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Distribution Channel:

Hospital pharmacies
Retail pharmacies
Mail order pharmacies
e_commerce

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa (MEA)

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Systemic Lupus Erythematous SLE Drugs Market to reach a valuation of US$ 329.18 Billion by 2032

[250 Pages Report] Global systemic lupus erythematous drugs market growth is fast in North American region and is estimated to project remarkable CAGR growth throughout forecast period. In North America, the SLE is more prevalent among Hispanics, Asians, and Native Americans according to Centers for Disease Control and Prevention (CDC). The second largest and fastest growing global systemic lupus erythematous drugs market is Europe and is projected to reach nearly US$ 550 Mn and register a double digit CAGR due to higher prevalence of SLE in Europe.

Systemic Lupus Erythematous (SLE) is a chronic autoimmune disease which causes the immune system to mistakenly attack health body tissue. In SLE, body immune system can affect any part of the body, such as joints, organs, eyes, skin, etc. Often SLE can result in symptoms such as malar rash, discoid lesions, sub-acute cutaneous lesions, photosensitivity, oral ulcers, arthritis, serositis, nephropathy, neurologic involvement, thrombocytopenia, haemolytic anemia, fever, Raynaud’s phenomenon, livedo reticularis, thrombosis, and myositis.

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It is also known as a disease of flare-ups and remissions and can range from mild to life threatening severity. It is also called as drug-induced lupus erythematosus due to common observation against drugs such as isoniazid, hydralazine and procainamide. Currently, there is no complete treatment for SLE. While only two biologic agents have been approved by FDA to treat SLE, synthetic drugs are still the mainstay of therapy in SLE. Based on available evidence, azathioprine and mycophenolate mofetil are the drugs of first choice. Hydroxychloroquine should be considered an anchor drug in SLE because of the multiple beneficial effects of this agent.

Systemic Lupus Erythematous (SLE) Drugs Market: Drivers & Restraints

Global Systemic Lupus Erythematous (SLE) Drugs market is projected to grow due to high prevalence of autoimmune diseases particularly systemic lupus erythematous (SLE). Major drivers for global systemic erythematous drugs market are development of novel SLE therapies, increasing availability of bio similar drugs and increasing support for emerging research areas for new drug molecules. At the same time, increasing awareness of disease diagnosis and treatment as well as consistent research and development processes for novel drug molecules are important drivers for global lupus erythematous market.

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Additionally, safety and quality of systemic lupus erythematous controlling therapy may possibly be a challenge for the growth of the global systemic lupus erythematous drugs market. Moreover, numerous public awareness programs targeted to increase awareness levels are also being accompanied. For instance, Lupus Foundation of America (LFA) has been implementing various projects to increase central support for SLE research and services to support people and families affected by SLE. However, serious side effectswith steroids, sensitivity with antibiotics, limited usage of Benlysta for severe SLE patients, and stringent regulatory approvals for new treatment options with better levels of efficacy and safety are obstructing the global systemic lupus erythematous drugs market.

Systemic Lupus Erythematous (SLE) Drugs Market: Segmentation

The global systemic lupus erythematous drugs market is classified on the basis of molecule and region.

Based on type of molecule, the global systemic lupus erythematous drugs market is segmented into the following:

Corticosteroids

Prednisone

Cortisone

Hydrocortisone

Non-Steroidal Anti-inflammatory Drugs (NSAIDs)

Over-the-counter NSAIDs include

Ibuprofen (Motrin)

Naproxen (Naprosyn)

Prescription versions include

Indomethacin (Indocin)

Nabumetone (RELAFEN)

Celecoxib (Celebrex)

Anti-Inflammatories

Aspirin

Acetaminophen (Tylenol)

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Disease-Modifying Anti-Rheumatic Drugs (DMARDs)

Hydroxychloroquine (Plaquenil).

Cyclosporine (Gengraf, Neoral, Sandimmune)

Azathioprine (Azasan, Imuran)

Antimalarials

Chloroquine (Aralen)

Hydroxychloroquine (Plaquenil)

BLyS-specific Inhibitors or Monoclonal Antibodies (MAbS)

Belimumab (Benlysta)

Immunosuppressive Agents/Immune Modulators

Azathioprine (Imuran)

Methotrexate (Rheumatrex)

Cyclophosphamide (Cytoxan)

Anticoagulants

Low-dose aspirin

Heparin (Calciparine, Liquaemin)

Warfarin (Coumadin)

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Clinical Trials Market is expected to record a 4% compound annual growth rate (CAGR) through 2029

A new study of Future Market Insights (FMI) estimates the global spending on clinical trials in 2019 at ~US$ 95 Bn, recording a ~4% Y-o-Y over 2019. The healthcare sector is closing in on a new era of clinical trials, which are more engaged with patients, streamlined and connected.

With development costs reaching record highs and patents approaching cliffs, companies are strengthening their R&D efforts to keep pace with change. Medical device and pharma giants are already eyeing better approaches for clinical trials, implementing a combination of their current systems and better technologies to ebb challenges in critical areas – orphan drugs and rare diseases.

Industry Sponsors Account for Majority Clinical Trial Spending

The most remarkable advances in medicine are realized from sponsorships of companies for clinical trials, in the anticipation of turning a profit. A notable percentage of clinical trials being conducted to support approval of vaccines, devices, or drugs, and track their safety, have been industry-sponsored in recent years.

The study estimates industry-sponsored clinical trials to account for ~60% of overall spending in 2019, and in the foreseeable future. Recent studies state that industry-sponsored trials yield positive results compared to academic-run trials, which also account for a significant share of clinical trial spending.

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According to FMI, sponsors, such as academic institutes, research institutes and medical centers, are estimated to account for ~30% clinical trial spending in 2019. As the imperativeness of evidence-based therapies continue to be progressively emphasized, most of the randomized clinical trials are driven by the ability of developing profitable new therapies. Guidelines recommended by regulatory bodies for clinical trial enrichment, and risk-based monitoring are likely to lay the groundwork for more targeted approach toward cost-intensive clinical trials.

The study opines that North America and Europe will continue to lead the clinical trials landscape, collectively accounting for ~80% of global spending. These regions present a standardized and favorable environment for the clinical trials landscape, in light of their economic vigor that enables them to benefit from most of the technology disruptions prior to other nations.

Pharmaceutical and medical device giants in these two regions are adopting AI for disrupting every stage of the clinical trial, which range from linking studies to eligible patients, to data collection and adherence.

According to the study, opportunities abound for conducting clinical trials in developing economies, such as in East Asia and South Asia, owing to the access to huge patient pool. Sponsors are likely to realize greater success in these regions as low government healthcare budgets represent cost-effective methods of providing patients with access to innovative therapies.

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Additionally, conducting clinical trials in these regions comes with other broader advantages, including pragmatic & efficient regulatory pathway, and tax incentives for conducting the trials.

Key Segment

By Area:

Oncology
Infectious Disease
Metabolic Disorders
Cardiovascular
Neuroscience
Respiratory
Others

By Phase:

Phase 0
Phase I
Phase II
Phase III
Phase IV

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By Sponsor:

Industry-sponsored
Government / Public
Non-governmental Organizations
Others (Academic Medical Centers, Individuals, etc.)

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa

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Smart Wheelchair Market is expected to be at a CAGR of 7.8% from (2022-2032)

[322 Pages Report] The smart wheelchair market is subject to changes owing to the factors influencing the market such as the increasing prevalence of neurological disorders, rising awareness and demand for automated medical devices, increasing burden of the geriatric population globally, and the growing levels of disposable income of the target population.

According to the latest study conducted by Future Market Insights, the smart wheelchair market will be projected to be valued at US$ 162.6 Mn by the end of 2022 and is expected to exhibit a CAGR growth of 7.8% over the forecast period (2022-2032)

Although the independent movement is crucial, some wheelchair users find it difficult or impossible to operate conventional manual or motorised wheelchairs. Multiple overlapping physical, cognitive, or perceptual symptoms of diseases such as cerebral palsy, amyotrophic lateral sclerosis, cerebrovascular accident, multiple sclerosis, and spinal cord injury can make it difficult to use a wheelchair safely and independently. Varied forms of assistance from a smart wheelchair and different wheelchair form elements can benefit people with various symptom combinations.

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The COVID-19 pandemic had unprecedented effects on the world’s economy, along with sending the healthcare sector into a hyper drive. COVID-19 pandemic negatively influenced the smart wheelchair market during the peak of the pandemic in 2020, due to the shortage of supply of raw materials and other supply chain crises. However, the partial normalization of the world in 2021 opened up a foray of growth opportunities for the key players in this industry.

There are services in hospital settings where external consultations, tests, analyses, and procedures are conducted involving patient displacement. This is particularly important for those with balance and mobility issues caused by disability, pain, fractures, or abnormalities in the lower limbs. Patients are currently transported to hospitals by patient transporters. It could often be done in a wheelchair, which would be more beneficial, owing to its autonomy. As a result, delays and failures owing to a shortage of staff to carry out the transfer would be avoided.

Technological advancements are also shaping the growth of the smart wheelchairs industry for over a decade.

For instance, In November 2021, Sunrise Medical LLC. announced the launch of its new ZIPPIE® Sphynx™ an on the go, compact, easily transportable wheelchair that can fit within a compact car’s trunk according to the clients’ needs. The market is consolidated with a few key players dominating the industry.

Rising sedentary lifestyle, increasing popularity of ultra-lightweight smart wheelchairs, and increased focus on R&D for smart wheelchairs are some of the key trends of this market. The overall improved technology adoption globally will fuel the demand for smart wheelchairs and the market is likely to expand exponentially over the forecast period. (2022-2032)

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Key Players :

Medical Depot, Inc.
Permobil AB
Pride Mobility Products Ltd.
MEYRA GmbH
DEKA Research & Development Corp.
tmsuk company limited
Ottobock
WHILL Inc.
Invacare Corporation
Karman Healthcare, Inc.

Key Takeaways from this study:

The joystick based smart wheelchairs hold the highest market share of about 0% during the year 2021, expanding at a CAGR of 7.6% during the forecast period.
Mobility impairment by usage accounts for the largest market value share of more than 40% and is set to expand at a CAGR of 2%.
The healthcare settings as the end users hold a market share of 0% in 2021 with an expected CAGR growth of 6.8% during the forecasted years.
North America is a leading region for the global smart wheelchairs market during the year 2021, accounting for a market share of 0%.

“Growing patient awareness regarding smart wheelchairs would fuel the growth of this market globally” says an analyst of Future Market Insights.

Market Competition:

Acquisitions and expansion of existing facilities are some of the strategies adopted by leading manufacturers of the smart wheelchair industry such as Sunrise Medical and Permobil, to further their business and establish a stronger market presence.

In August 2020, Sunrise Medical announced the completion of a strategic acquisition of paediatric industry leaders, Leckey and Firefly, in order to extend its paediatric product and service portfolio.
In March 2022, Permobil, a leading player in the wheelchairs industry, announced an investment to expand their R&D and operations facility in Tennessee in order to expand their business.

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What does the report cover?

Future Market Insights offers a unique perspective and actionable insights on the smart wheelchairs market in its latest study, presenting a demand assessment of 2017 – 2021 and projections for 2022 – 2032.

The research is based on product-(joystick based smart wheelchairs and Bluetooth connected smart wheelchairs), usage-(mobility impairment, ocular disability, geriatric group, multiple disability and others), and end-user (healthcare settings, home care settings and public access), and across seven key regions of the world.

About Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.

Key Market Segments Covered in the Smart Wheelchair Industry Research

By Product:

Joystick based Smart Wheelchairs
Bluetooth Connected Smart Wheelchairs

By Patient:

Mobility Impairment
Ocular Disability
Geriatric Group
Multiple-Disability
Others

By End-User:

Healthcare Settings
Home Care Settings
Public Access

About FMI:

Hyaluronic Acid Products Market exhibiting growth at 6.1% CAGR through 2030

[284 Pages Report] Hyaluronic acid products have been gaining the momentum backed by massive use in therapies intended at the treatment of osteoarthritis, vesicoureteral reflux (VUR), and dry eye diseases, besides diverse aesthetic applications. Future Market Insights (FMI) in a new study has forecast the global market for hyaluronic acid products to surpass US$ 2.7 Bn by 2021.

As a result, the demand of minimally invasive treatment for diseases such as osteoarthritis and VUR stemmed. Manufacturers are introducing advanced intra-articular hyaluronic acid injections (IAHA) injections for the minimal invasive pain management with minimal pain, short recovery time and shorter hospital stay period.

The rising demand of the minimally invasive treatment for the pain management of osteoarthritis and other chronic ailments have pushed the key players to introduce innovative hyaluronic acid products into the market. The conventional treatment regime for chronic diseases was often invasive, involving certain amount of risk for patients with medical-comorbidities. These treatment methods often resulted in long hospital stays.

FMI has forecast dermal fillers to remain key application segment, accounting for over 35% of sales in 2021. The dermatological application of hyaluronic acid also has seen surge with the introduction of advanced dermal fillers, masks, and serums for application in restorative therapy and wrinkle augmentations.

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Major Key Players:

Anika Therapeutics, Inc.
Fidia Farmaceutici S.p.A.
Sanofi
Ferring B.V.
Viatris Inc.
Croma-Pharma
Seikagaku Corporation
Zimmer Biomet
Lifecore Biomedical, LLC
LG Chem
Bioventus LLC
Smith & Nephew plc
Shanghai Jingfeng Pharmaceutical Co., Ltd.
Nestle (Galderma)
Bausch Health Companies Inc. Companies Inc. (Salix Pharmaceuticals, Inc.)
Allergan Plc.

“Increasing prevalence of chronic inflammatory diseases, increasing geriatric population, and advancements in hyaluronic acid products in terms of better efficacy and cost-effectiveness, are expected to drive the hyaluronic acid products market,” says the FMI Analyst

The global hyaluronic acid products market is set to expand its scope in the forecast period, as a result of rising prevalence of chronic diseases and expanding geriatric population. In addition to this, the rising demand for minimally invasive therapies and advancing aesthetic procedures and products are propelling the growth of the market.

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Key Takeaways from Hyaluronic Acid Products Market Study

The hyaluronic acid products market will expand at a CAGR of 6.1% between 2020 and 2030
The U.S. will emerge as one of the leading markets, accounting for over 73% of sales in North America
The U.K. will remain one of the key markets within Europe, registering 7.7% Y-o-Y growth in 2021
The demand for Germany and France will continue rising at a positive rate
Japan will emerge as a leading market in East Asia, followed by China and South Korea

Who is winning?

Manufacturers in the hyaluronic acid products market are focusing on advanced IAHA injections, dermal filler, and other products. The delivery of hyaluronic acid to the target site has been made effective, precise, and minimally invasive. This is intended at ensuring more effective pain management for various chronic and inflammatory diseases such as osteoarthritis. Many manufacturers are focused on developing advanced, effective and affordable IAHA injections that come with advanced targeted delivery and minimal invasiveness.

For instance, Synvisc by Sanofi is effective for osteoarthritis pain. The advanced range of dermal filler launched by Galderma of Nestlé, named Restylane covers a wide spectrum dermal application for volume restorative therapy and Restylane Lyft is indicated for the wrinkle augmentation of the backside of the hand.

Valuable Insights into Hyaluronic Acid Products Market

Future Market Insights, in its new report, provides an unbiased analysis of the hyaluronic acid products market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights into the hyaluronic acid products market based on product type (single cycle injection, three cycle injection, five cycle injection), application (osteoarthritis, ophthalmic, dermal fillers, and vesicoureteral reflux), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, and specialty clinics). Regionally the market covers North America, Europe, Latin America, East Asia, South Asia, Oceania, and the Middle East and Africa.

Hyaluronic Acid Products Market by Category

Product

Single Cycle Injection Products
Three Cycle Injection Products
Five Cycle Injection Products

Application

Osteoarthritis
Ophthalmic
Dermal Fillers
Vesicoureteral Reflux

Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Drug Stores
Speciality Clinics

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Region

North America
Latin America
Europe
East Asia
South Asia
Middle East and Africa (MEA)
Oceania

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Vaccines Market to reach US$ 120 Billion by 2032 – Comprehensive Research Report by FMI

The global vaccines market size is expected to reach US$ 120 Bn by 2032, growing at a 10% CAGR over the forecast period. The advent of existing and re-emerging infectious diseases, expanding industry reforms to promote vaccine R&D, growing public funding for developing drugs, and increasing immunization emphasis are all driving the growth of vaccines.

Attributes	Details
Vaccines Market CAGR (2022 – 2032)	10%
Vaccines Market (2032)	US$ 120 Bn
Vaccines Market Attraction	Advanced technology and cost efficiency are increasing the vaccines market growth.

Experts warn that future pandemics and outbreaks might be even more deadly than COVID-19. Diseases could arise primarily based on pathogens into human, animal, or plant populations for terrorist goals. The expanding presence of infectious diseases will ensure a continuous and growing demand for vaccines in the coming years.

Furthermore, the advent of new diseases will result in increased R&D spending, a robust pipeline, and new vaccination prospects for significant populations.

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Due to their large patient populations and rising disposable incomes, emerging regions such as India, China, and Southeast Asia provides an attractive potential for the vaccination business. Major market companies have been enticed to engage in these economies because of their growth potential.

As per emerging vaccines market trends, various organizations and institutions, such as GAVI, are also working to improve vaccine use in impoverished countries, for example, by distributing vaccines at reasonable prices. As a result, these countries have become vital growth hotspots in the vaccine market.

Another vaccines marketing strategy is the rise in low-cost vaccinations. To expand the reach of immunization programmes in these economies, companies are investing in and focusing on creating inexpensive, low-cost vaccines.

Vaccines have a greater storage and distribution cost than any other pharmaceutical product because they require specific equipment and monitoring systems. Vaccine quality might be harmed by a lack of suitable storage and delivery facilities. As a result, vaccines market share is being stifled by the heavy price of vaccine production and storage.

Key Takeaways:

The high prevalence of infectious illnesses, government organizations’ continued growth in vaccine development, market participants’ expanding R&D investments, and mandated reporting are some of the essential drivers propelling the sales for vaccines globally.
The substantial proportion of this category in the vaccines market is ascribed to the release of new multivalent vaccines, increased funding by critical players in multivalent vaccine R&D, and technological innovations in multivalent vaccine development.
The vaccines market report states that the influenza category is expected to grow fastest. The global consumption of influenza vaccines is supported by rising knowledge of the necessity of influenza vaccination, increased government initiatives to prevent influenza, and more clinical studies.
The vaccines market trends state that intramuscular vaccine delivery is expected to grow the fastest. The convenience of intramuscular injection propels the segment, and the fast absorption of vaccines is provided in this way.

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“The high frequency of diseases, increased government immunization campaigns, technological advancements in the vaccine business, a solid vaccine pipeline, and the advent of the COVID-19 pandemic are all factors to consider,” opines an FMI analyst.

Comparative View of Adjacent Vaccines Market

Attributes	Vaccines Market	Veterinary Vaccines Market	COVID-19 Vaccines Market
CAGR (2022 – 2032)	10%	7%	-15%
Market Value (2026)	US$ 67 Bn	US$ 12 Bn	US$ 1.4 Bn
Growth Factor	Increasing focus on immunization of the populace to underpin growth.	Demand for animal-based plant product generates high adoption of veterinary vaccines.	Rising investments towards COVID-19 vaccine development to drive significant growth.
Opportunity	Investments from governments to support vaccine development.	Increasing initiatives taken by governments to improve animal health creates opportunity for market players.	Increasing focus on improving the efficiency of COVID-19 vaccines.
Key Trends	Development of vaccines with low response time to get better exposure.	Rising focus on technological innovations to offer opportunities.	Investment towards R&D activities to underpin opportunities.

Competitive Landscape:

Sanofi (France), Daiichi Sankyo Co., Ltd. (Japan), Merck & Co., Inc. (US), GlaxoSmithKline plc (UK), Johnson & Johnson (US), CSL Limited (Australia), Emergent BioSolutions Inc. (US), Pfizer Inc. (US), and AstraZeneca PLC have the highest market share by the company as highlighted in the global vaccines market report.

In August 2021, GlaxoSmithKline plc filed a Biologics License Application (BLA) with the US Food and Drug Administration (FDA) for their investigational vaccine PRIORIX, which seeks authorization to be used against measles, mumps, and rubella (MMR) in the United States. The vaccine was first licensed in Germany and is now approved in more than 100 countries around the world.
INOVIO Pharmaceuticals announced in June 2021 that it is expanding its collaboration with Advaccine Biopharmaceuticals Suzhou Co Ltd. to conduct a Phase 3 trial for their investigational COVID-19 DNA vaccine INO-4800, in patients aged 18 and up in several countries, particularly in Latin America and Asia.

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Vaccines Market Key Segments
By Technology:

Conjugate Vaccines
Inactivated and Subunit Vaccines
Live attenuated Vaccines
Recombinant Vaccines
Toxoid Vaccines
Viral Vector Vaccines

By Type:

Monovalent Vaccines
Multivalent Vaccines

By Route of Administration:

Intramuscular & Subcutaneous Administration
Oral Administration
Other routes (Intranasal, Intradermal and Percutaneous)

By Disease Indication:

Influenza
Pneumococcal Diseases
Combination Vaccines
HPV
Herpes Zoster
Meningococcal Diseases
Rotavirus
MMR
Varicella
Hepatitis
DTP
Polio
Covid-19
Other Disease Indications (Cancer, Dengue, Tuberculosis, Typhoid, Japanese Encephalitis, Rabies, Yellow Fever, and Allergies)

By End User:

Pediatric Vaccines
Adult Vaccines

By Region:

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

About FMI: