Market Research Blog

According to a recent study done by FMI, the Micropump market is expected to reach US$ 9.27 billion by 2032, up from US$ 1.6 billion in 2021, expanding at a high CAGR of 19%. This study explains how the micropump market is directly proportional to increasing technological advancements and rising demand for micropumps during care testing. The micropumps include micropump gj, micropump ga, etc.

The rising awareness and importance of controlled drug delivery are helping the market rise up. Also, increasing demand for miniatured medical devices is helping the global micropump market grow excessively.

The use of micropumps in nasal and pulmonary routes drug delivery is another driving factor for the global market as awareness also increases around control drug delivery in order to gain a positive impact. Micropumps like waterway micropump, cole parmer micropumps are used to help the accurate drug delivery processes.

The rising application of micropump in infusion therapy, added with its usage in biomedical research, is a significant factor that will help the global market thrive. For instance, a high-pressure micropump is used in biomedical research.

As Covid-19 has impacted the global market, micro-dosing pumps are used in the research and development programs, and its use in therapy is another reason for the increasing growth of the market.

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Key Takeaway

• The government research and development programs demand the most from the global micropump market. Huge investments are made in testing new healthcare drugs post covid-19 surge to eliminate the potential threat.
• The drug delivery applications help the market thrive as it requires micropumps in order to complete the processes. The use of micropumps such as vacuum micropumps servoflo micropump is common in drug delivery applications.
• North America region is the biggest market for the global micropump market as it will hold the largest portion of the market in the forecast period. The growth is owed and led by the use of micropumps in medical research.
• The global market is segmented by End-user, Application, and Product Type. These categories are further divided into small segments.
• On the basis of End-user, the performing segment is biotechnology and pharmaceuticals companies. The reason behind this growth is the huge government investments in R&D. Micropumps like piezoelectric micropump, idex micropump, or pump drives like micropump eagle drive are used in the R&D programs.
• On the basis of Application, the biggest segment is the in-vitro diagnostics is the performing segment as the IVF market is blooming sideways.

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Competitive Landscape

The global Micropump market is dominated by Sensile Medical, Cole-Parmer India Pvt ltd, IDEX, Dolomite Microfluidics, The Lee Company, Gardner Denver, Takasago Electric Inc, Hama Plc, and Servoflo Corporation. These companies are adopting new digital channels and processes to increase their stronghold in the Micropump market.

•        TTP Ventus has introduced its new product line that is called the LT series. This includes pump products with advanced operational capabilities and ready for use in life sciences, medical, industrial research, and environmental sectors.
• TTP Ventus ltd. also has launched a new range of micropumps named HP series that deliver optimum performance in higher pressures, higher flow rates, and long life for advanced applications.

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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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According to an analysis by Future Market Insights (FMI), the chromatography software market is expected to be valued at US$ 1.1 Bn in 2032, with an 7.8% CAGR during the forecast period.

The adoption of chromatography software is due to an increase in the demand for chromatography techniques in research and development activities across several business verticals. For example, increased food safety rules and an increasing focus on pharmaceutical R&D contribute to the growing need for chromatography systems and software.

The expanding need for chromatography software is fuelled by increased pharmaceutical research activities, the rising prevalence of diseases requiring diagnosis and testing, and increased worries about food and safety pharmaceuticals.

Furthermore, due to the increased use of chromatography techniques to study medications and their usefulness as a treatment, the COVID-19 outbreak has boosted the demand for chromatography systems. As a result, the stock market has risen during the pandemic.

Remdesivir was measured in the blood plasma of a COVID-19 infected patient using liquid chromatography combined with mass spectrometry, according to a study published in June 2020.

The rising technological integration and automation in pharmaceutical R&D, forensic, and environmental testing rely on chromatographic systems and software for enhanced efficiency and effectiveness.

The market’s expansion is being fueled by the increased usage of analytical software for optimizing laboratory automation and the development of intelligible software and adjustable interfaces for high accuracy and productivity.

The lack of a skilled laboratory crew for chromatography software handling, on the other hand, may have a negative impact on market growth.

Due to all the factors mentioned above, the chromatography software market is expected to reach US$ 790 Mn​ in 2028.

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Key Takeaways:

• In 2020, the integrated chromatography software category led the market, accounting for 76.5% of total revenue.
• In 2020, the web and cloud-based software sector led the market, accounting for 72.1% of total revenue.
• The pharmaceutical industry segment dominated the market in 2020, accounting for 33.4% of total sales.
• North America dominated the market in 2020, accounting for 49.1% of total sales. The increased usage of technology in laboratory testing and policies that promote the deployment of these technologies to assure reliable results can be linked to the market’s rise.

Competitive Landscape:

Agilent Technologies, Waters Corporation, Bruker Corporation, Axel Semrau, Shimadzu Corporation, Gilson Inc., and Thermo Fisher Scientific Inc. are the leading participants in the chromatography software market.

To maximize revenue share and boost company growth, major market participants implement strategic formulations such as forward integration, new product development, geographic expansion, and research collaborations.

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Key Segments:

By Device Type:

• Standalone
• Integrated

By Deployment Type:

• On-premise
• Web-based
• Cloud-based

By Application:

• Pharmaceutical Industry
• Environmental Testing
• Forensic Testing
• Food & Beverages Industry
• Others

By End Use:

• Pharmaceutical and Biotechnology Companies
• Academic and Research Institutes
• Testing Facilities
• Hospitals/Clinics

By Region:

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

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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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The pharmaceutical drug delivery market was worth US$ 1600 billion in 2021 and is predicted to grow to US$ 3000 billion by 2032, a CAGR of 6% during the forecast period.

“The growing incidence of infectious diseases globally, expanding R&D expenditure for innovative medicines, and rising FDA approvals all contribute to the expansion of this market category.”

The increased prevalence of chronic diseases, the developing biologics industry, extensive R&D investments, and technological innovations & new product launches are all contributing to the rise in the pharmaceutical drug delivery industry.

Pharmaceutical drug delivery device has certain advantages, including ease of use, efficiency, and patient compliance. As a result, drug developers are concentrating on appropriate delivery and packaging alternatives to increase treatment efficiency and provide enhanced patient compliance.

The pharmaceutical drug delivery market trends and forecast indicate that the businesses are investing heavily in research and development to create new compounds for various therapeutic applications and drug delivery platforms. The corporations put a lot of money into R&D to bring high-quality, innovative items to market. Biopharmaceutical businesses’ R&D spending has likewise increased over time.

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For pharmaceutical drug delivery carriers, self-administration and home care are likely to provide considerable growth prospects. This is primarily due to the growing geriatric population, as elderly people make up a sizable market for drug delivery devices for home care. This aspect is also driving up demand for application-specific injectable, inhalation, topical, and transdermal medication treatments tailored to caregivers’ and patients’ needs.

Governments in both rich and developing countries advocate cost-cutting pharmaceutical drug delivery mechanisms like lowering prescription reimbursement prices and boosting the use of generics. Government agencies, insurers, and patients are putting pressure on drug makers all across the world to cut costs. The global market study on the pharmaceutical drug delivery market indicates that due to the downward pricing pressure, drug acceptance is increasing in emerging markets, where the need for low-cost treatments is high.

Several pharmaceutical companies, however, are suffering as a result of this. Moreover, this trend is projected to continue in the next years, owing to ongoing demand from insurers, pharmacy benefit managers (PBMs), and public and private payers to lower pharmaceutical drug delivery device pricing to cover more innovative drugs for common ailments like high cholesterol and diabetes.

The pharmaceutical drug delivery market share is projected to reach US$ 2200 Bn by 2026.

Key Takeaways

• The high share of the North American market can be attributed to the rising prevalence of chronic diseases like cancer, respiratory allergies, and diabetes, as well as increasing patient compliance with innovative drug delivery technologies and the presence of a large number of major players in the region.
• Infectious disorders accounted for the greatest portion of the pharmaceutical drug delivery industry in 2020.
• The rising prevalence of infectious diseases around the world, rising R&D expenditure for new treatments as a result of the present COVID-19 pandemic scenario, and the rising number of FDA approvals for such drugs all contribute to the infectious disorder market segment’s substantial share.
• Governments in developing nations are investing heavily in modernizing their healthcare infrastructure, which is projected to enhance access to healthcare services.

“The increased prevalence of chronic diseases, the developing biologics industry, and increasing technological breakthroughs and new product releases are all driving this market forward.”—opines an FMI analyst.

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Competitive Landscape 

The number of pharmaceutical drug delivery carriers is growing due to increased spending by key market players in research and development and clinical trials of pharmaceutical medication delivery methods.

Due to multiple major, medium, and small players, the worldwide pharmaceutical drug delivery market is extremely competitive and fragmented. These companies have a significant market share in their respective regions. Leading players’ growth strategies are expected to propel the global market as per the upcoming pharmaceutical drug delivery market key trends & opportunities.

• DARZALEX (daratumumab), a subcutaneous formulation that decreases treatment time for multiple myeloma indications, was approved by the FDA in July 2021.
• Pfizer, Inc. gained FDA approval in December 2020 for BRAFTOVI (encorafenib) plus cetuximab to manage patients with brafv600e-mutant metastatic colorectal cancer (CRC) who have previously received treatment.

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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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As per the gastrointestinal stent market survey by Future Market Insights (FMI), the market is poised to attain a CAGR of 6% during the forecast period, i.e., 2022-2032.

The rising preference for minimally invasive (MI) surgical procedures is having a significant impact on the gastrointestinal stent market growth as in comparison to traditional open surgery procedures; stenting has a lower risk of gastrointestinal infection, less blood loss, and a shorter recovery period.

As per gastrointestinal stents market study, gastrointestinal stents market future trends are likely to be swayed by various technological advancements, such as the development of gastrointestinal biodegradable stents and nitinol material-based stents with a high degree of flexibility and kink-resistance can be considered as some of the major emerging trends in gastrointestinal stent market.

Ongoing research and development activities in the business sector are also expected to sway the gastrointestinal stents adoption trends during the forecast period. For example, Brigham and Women’s Hospital and MIT researchers announced the development of a stretchable stent with pop-out needles for use in drug delivery in gastrointestinal systems and other tubular organs.

Sales of gastrointestinal stents are likely to surge owing to significant growth in healthcare infrastructure, favorable government policies, and extensive research and development (R&D) activities.

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In most Asian countries, government reimbursement for endoscopic stenting procedures is limited or non-existent, one of the major reasons for patient and physician reluctance to use gastrointestinal stents, narrowing down the gastrointestinal stents market outlook.

Such a high cost and a lack of reimbursement in developing countries such as India are expected to limit patient adoption of gastrointestinal stent-related procedures.

Taking into account the factors mentioned above, the gastrointestinal market size is projected to reach US$ 600 Mn by 2026.

Key Takeaways:

• Due to the increasing prevalence of chronic liver disease and the increase in the number of surgical procedures for the treatment of biliary diseases, the biliary stents segment is likely to account for the largest gastrointestinal stents market share as per the product type.
• Based on material, self-expanding metal stents are expected to lead the market. The same can be credited to benefits such as ease of insertion, a lower possibility of dislodgment or migration, and longer patency.
• During the forecast period, the gastrointestinal cancers segment is anticipated to have the highest CAGR attributed to the increased prevalence and incidence, thereby positively impacting the gastrointestinal stents market trends.
• The hospitals and clinics segment will be at the forefront of the market, owing to many endoscopic retrograde cholangiopancreatographies (ERCP) and percutaneous transhepatic cholangiography (PTC) procedures performed in hospitals for various disease indications.

“In terms of market share and revenue, North America is predicted to dominate the gastrointestinal/GI stent market and will maintain its dominance throughout the forecast period on account of a sophisticated level of healthcare facilities, a rising geriatric population, high incidence of gastrointestinal diseases, favorable reimbursement scenario, and presence of key market players such as C.R. Bard (US), and Becton, Boston Scientific Corporation (US), Dickinson and Company.” opines an FMI researcher.

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Competitive Landscape:Among the prominent players in the GI, stents market are Merit Medical Systems (US), Cantel Medical (US), Olympus Corporation (Japan), CONMED Corporation (US), Taewoong Medical (South Korea), Endo-Flex GmbH (Germany), Micro-Tech (Nanjing) Co., Ltd. (China), MI-Tech (South Korea), QualiMed (Germany), UK Medical (UK), Hobbs Medical Inc. (US), CITEC (China), BCM Corporation (South Korea), Leufen Medical GmbH (Germany) and Medorah Meditek Pvt. Ltd. (India).

The gastrointestinal stent market is moderately competitive, with numerous gastrointestinal stents market opportunities. In addition, the increasing prevalence of diseases associated with gastrointestinal tract stent placement is driving up demand for gastrointestinal stents.

As a result, several global corporations are implementing various strategies to reach out to emerging economies such as product launches, mergers, acquisitions, partnerships, collaborations, etc.

Some of the recent developments in the gastrointestinal stents market are:

• Cook Medical worked with Taewoong Medical to expand patient treatment options by distributing a variety of Taewoong’s stents in the United States. The Niti-STM Through the Scope (TTS) Esophageal Stent, the flagship product of the South Korean company’s Niti-S Self-Expandable line of the metal gastrointestinal stent, is included in this distribution collaboration.
• Olympus has proposed a couple of self-expanding metal stents (SEMS) to be used as palliative measures in patients with a short life expectancy or who have malignant colonic or duodenal obstruction.

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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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The cleanroom technologies market study conducted by Future Market Insights is projected to expand at a CAGR of 6% to US$ 13.29 Bn by 2032, up from US$ 7 Bn in 2021. The rising demands for sterilized pharmaceutical formulations and the growing demand for medical device cleanrooms are driving this cleanroom technologies market growth.

In the subsequent years, technological advancements in cleanroom technology and rising demand for cleanroom technologies in developing economies are likely to provide significant cleanroom technologies market potential possibilities.

The study finds that cleanroom technologies market constraints associated with their operational expenses and the technical problems associated with modifying cleanroom designs in developing economies are hampering the cleanroom technologies market growth.

ISO 6 cleanrooms and ISO 8 cleanrooms have different prices per square foot. This is due to the fact that the volume of air delivered in both types of cleanrooms differs. In an ISO 6 cleanroom, the air is 100 times cleaner than in an ISO 8 cleanroom, increasing the air conditioning capacity of the HVAC systems.

The demand to maintain an antimicrobial environment by eliminating airborne particles in these facilities increases as the number of hospitals and Ambulatory Surgery Centers (ASCs) grows due to the various perks they provide.

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There are no defined cleanroom design standards for various application areas or product types. This presents several difficulties for cleanroom technologies manufacturers, as they must adhere to various designs each time. There are no requirements for environmental, product, or facility factors to be controlled in the legislation. Instead, they only give requirements that a corporation must follow after manufacturing a product in a cleanroom setting.

Consumables dominated the cleanroom technology market in 2020, accounting for the most revenue. Another critical factor attributing to the segment’s highest cleanroom technology market share is the frequent usage of consumables and high sales of cleanroom consumables, notably gloves.

Due to the particular sensitivity of processes, cleanroom technology is vital for biotechnology-based operations such as research and development, biocontamination control, pilot studies, and production facilities. Consequently, demand for cleanroom technology is anticipated to grow as the biotechnology industry grows significantly over the forecast period.

According to the report, North America dominated the cleanroom technology market, accounting for most sales of cleanroom technology.

This is due to the region’s well-established healthcare infrastructure, the presence of significant pharmaceutical and medical device cleanroom businesses on the ground, an increase in the burden of non-communicable diseases, and growth in cosmeceutical and nutraceutical awareness. Moreover, restrictive laws governing the approval of healthcare items in this region, such as the United States, have boosted demand for cleanroom technology.

Key Takeaways:

• The consumables segment leads the cleanroom technology market in 2020, accounting for 54.1% of total revenue.
• In 2020, the pharmaceutical industry segment was expected to dominate the cleanroom technology market by end-use, accounting for 40.3% of total revenue.
• Due to the increased acceptance of biotechnology commodities worldwide, the biotechnology industry segment in the cleanroom technologies market is predicted to develop at the fastest rate of 7.2% over the forecast period.
• The equipment segment held a dominant position in the cleanroom technologies market in 2019, accounting for 74.2% share in terms of value.
• North America held the largest cleanroom technology market share in 2020, accounting for 35.5% of total revenue.

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Competitive Landscape:

The cleanroom technology market is highly fragmented, with more regional competitors than cleanroom technology market manufacturers present. Mergers and acquisitions, as well as R&D relating to modular cleanroom systems’ developments, are some of the major strategies used by leading firms to grow their cleanroom technology market share.

The major cleanroom technology market manufacturers covered in the cleanroom technology market report are Simplex Isolation Systems, AES Clean Technology, DuPont, Clean Air Products, Clean Room Depot, Inc., Integrated Cleanroom Technologies Private Limited, Hemair, AIRTECH JAPAN, Ltd., Lennox International Inc., COLANDIS GMBH, ABN Cleanroom Technology, Nicos Group, Inc., Galvani S.r.l., ANSELL LTD., Ardmac, Azbil Corporation, novum. Reinraumtechnik, Helapet Ltd., KCWW, Camfil, Labconco, Taikisha Ltd, Terra Universal. Inc. and Lindner Group, among other domestic and universal cleanroom technologies market manufacturers.

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About Us    

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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According to a recent lateral flow assays market report by Future Market Insights (FMI), the lateral flow assays market was valued at US$ 11 Bn in 2021, is projected to reach US$ 12.5 Bn by 2026, and is anticipated to grow at a CAGR of around 2% over the projected period of 2022-2032.

The high rate of infectious diseases around the world, explosive growth in the geriatric population, escalating demand for point-of-care testing, and increased use of home-based rapid lateral flow devices are all boosting lateral flow assays market forward. The significant restraints are doctors’ and patients’ reluctance to change existing diagnostic techniques and the low accuracy of lateral flow assays.

The affordable cost of lateral flow assays devices and the fact that no trained personnel is required to run the tests are two factors driving up demand for lateral flow assays-based devices for COVID-19 testing. The growing adoption of kits & reagents due to innovations and benefits of lateral flow assays rapid tests over laboratory tests the high number of lateral flow assay rapid detection kits launched by healthcare companies, predominantly for lateral flow assay COVID-19 testing, are all factors contributing to the large share of the kits & reagents segment. Sandwich assays have a considerable part of the lateral flow assays market due to the growing use of sandwich assays in medical testing and the benefits of sandwich assays.

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Despite the fact that lateral flow assay tests are simple to implement and less affordable than laboratory testing, they are less reliable. Due to the apparently limited accuracy of the lateral flow assay kit, most doctors and patients prefer molecular studies to fast tests for more accurate COVID-19 diagnosis. As a result, major diagnostic lateral flow assays market participants are concentrating their efforts on developing more laboratory-based infectious disease testing solutions.

Infectious disease lateral flow assays diagnostics, cardiac disease diagnosis, and veterinary applications are typical applications for lateral flow tests. However, the use of lateral flow technology has grown in various new applications in recent years. Potential applications for lateral flow tests include saliva diagnostics, behavioural health, agriculture (crop quality testing), biowarfare (anthrax detection), environmental testing, and food microbiology. Lateral flow assay (immunochromatography tests/lateral flow immunoassays) technologies continue to dominate the point of care diagnostic market through 2024. The acquisition and validation of vital reagents are one of the most challenging elements of producing lateral flow assay tests. Antibodies used in assays must be evaluated for accuracy, specificity, stability, and reproducibility, as any reagent flaws can cause the lateral flow assay to fail. Another obstacle is lateral flow assays diagnostics after an antibody or antibody pair has been found.

Key Takeaways

• The Kits & Reagents segment is anticipated to grow at a rapid CAGR of 5.3% during the forecast period.
• The clinical testing segment accounted for 90.9% of the lateral flow tests market.
• With a lateral flow tests market share of 70.9% in 2020, sandwich assays dominated the lateral flow tests market.
• Blood samples were the most preferred, with a 53.1% lateral flow tests market share.
• The hospitals and clinics segment was the most favoured, with a lateral flow tests market share of 37.6%.
• China, the world’s second-largest economy, is expected to reach a lateral flow tests market size of US$917 million in 2027, with an annual growth rate of 8.8%.
• Within Europe, Germany is expected to show a lateral flow tests market growth at a 4.8% compound annual growth rate (CAGR), while the rest of the European market will reach US$917 million by 2027.
• The Asia Pacific region is expected to increase at a CAGR of 4.2% during the forecast period.

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Competitive Landscape

Some companies have increased their lateral flow tests market share through various strategies such as mergers and acquisitions. In contrast, others invent new diagnostic market test methods and provide innovative goods to maintain their market share.

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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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The global demand for drug discovery services market is expected to rise at a 14.5% CAGR to acquire a valuation of US$ 50.9 Bn by the end of forecast period 2022-232. The global drug discovery services market size was valued at US$ 15.5 Bn in 2021 and is projected to reach a valuation of US$ 32 Bn by 2026

The global drug research services industry is booming as a result of increased funding for research and innovation in a multitude of segments. The drug discovery process is a significant part of the pharmaceutical sector. The study on drug discovery services market finds that the efforts of researchers towards the development of new drug prototypes have popularized outsourcing of drug discovery services. Moreover, growing spending on research and the development of novel medications for the treatment of deadly diseases and disorders has stimulated the demand for drug discovery platform. Pharmaceutical and biopharmaceutical businesses are opting for seamlessly engaged and multifunctional solution providers for drug discovery research, from the developing phase to the late testing stages. Emerging trends in drug discovery services market portends that pharmaceutical companies opt for outsourcing as a key choice to offset the shortage of in-house manpower required for new product development, as pharmaceutical businesses face great pressure to reduce overhead costs.

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Restrictive laws regulating drug research and animal testing are projected to limit drug distribution to some extent. Drug discovery service organizations are facing restrictions due to a limitation of trained employees. The use of animals in pharmaceutical research is governed by strict laws. Mice, rats, fish, amphibians, and reptiles are the most common animals utilized in scientific studies. Considerations over the ethical use of animal experimentation have prompted countries to enact animal safety and use statutes, which raises a number of impediments to the future of drug discovery services market.

The drug discovery trends indicate that Biologics, such as proteins, peptides, and monoclonal antibodies, account for more than half of the therapeutic possibilities in the initial cycle. In 2022, biologics are estimated to make up for approximately half of the income earned by the top 100 pharmaceutical drugs. As per the global market study on drug discovery services, they provide the drug discovery services market with highest growth potential through the forecast period.

Despite the fact that small-molecule pharmaceutical companies monopolize the global pharmaceutical market, players working with biologics, biosimilars, and large-molecule drugs are tapping into the drug discovery services market opportunities primarily to introduce new biologic-based treatments and rising revenue from current biologics.

All-in-all, the drug discovery services market is expected to reach a valuation of US$ 32 Bn by 2026.

Key Takeaways

• The drug discovery services market is divided into two types–chemistry and biology services. In 2020, the chemistry drug discovery services category held the greatest proportion of the market.
• Small molecules are expected to occupy the largest share of revenue when compared to biologics. Drug discovery statistics specify that small molecules are expected to generate more than US$ 10,800 million in revenue by the end of 2026.
• The oncology category is predicted to have the leading position, owing to the increasing number of cancer patients around the world.
• In comparison to other innovative drug discovery services, Hit-To-Lead identification is expected to acquire the most traction.
• As the most revenue generating phase, several CROs are already delivering Hit-to-lead identification services to pharmaceutical corporations.

“The Asia Pacific drug discovery services market growth is anticipated to be the highest during the projected duration, owing to expansions happening in the pharmaceutical and biopharmaceutical industry. A high proportion of contract research organizations (CROs), government incentives, high research and development in pharmaceutical industry, and the involvement of less restrictive standards for drug discovery programs (particularly in terms of using animals for research) across several APAC countries are some drivers sustaining the healthy growth of the drug discovery services market.”, opines a seasoned FMI analyst.

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Competitive Landscape

The COVID-19 pandemic highlighted the importance of outsourcing drug discovery services for companies and research groups in North America. These companies are now working together with the government to facilitate the drug discovery process.

• Existencia, a business using artificial intelligence in drug discovery, announced a collaboration with Diamond Light Source and Scripps Research on March 31, 2020, to identify COVID-19 antiviral treatments.
• Samsung Biologics, a South Korean pharmaceutical business, has signed a long-term partnership with Eli Lilly and Company to develop bamlanivimab, an investigational COVID-19 virus-neutralizing antibody.

Genesis Therapeutics and Genentech announced a multi-target drug discovery AI partnership in November 2020. Genesis’ graph machine learning and drug discovery skills will be used in this cooperation to identify novel drug candidates for therapeutic targets in a variety of illness domains.

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About Us    

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.

Contact:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware – 19713, USA

T: +1-845-579-5705

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According to a recent study by Future Market Insights (FMI), the cold disposable biopsy forceps market is expected to witness high growth during the forecast period. The market value is slated to increase from US$ 505.1 Mn in 2020 to over US$ 1.2 Bn by 2031 at 8.4% CAGR over the forecast period (2021-2031).

The cold disposable biopsy forceps market will register high demand due the rising prevalence bronchitis and gastrointestinal disorders such as IBD and GERD among the geriatric population and the increasing awareness towards endoscopic procedures. There is also a rise in the adoption of disposable biopsy forceps that to be reliable for test sampling expects to gain popularity.

At present, the minimally-invasive technology, with the endoscope system at the core, has been extended to obstetrics, general surgery, otolaryngology, gynecology, thoracic surgery, urology, pediatrics, and other departments. Minimally-invasive endoscopic technology has become an indispensable technology for the diagnosis and treatment of chronic diseases associated with breathing, digestion, urology, otolaryngology, and so on.

With the rising demand for endoscopic minimally-invasive technology and continuous improvement in endoscopic processing technology, endoscopic applications have become prominent in almost all departments. The growing demand for diagnosis and endoscopic treatment is expected to further boost the demand for cold disposable biopsy forceps.

Numerous recent technological advances are becoming available to endoscopists. An abundance of new imaging modalities is expected to facilitate early detection of chronic disorders and other pathological entities. Most of these techniques remain investigational and are currently in clinical trials to determine patient benefits.

Companies are expanding their product lines by manufacturing different types of products for a wide range of applications.

For instance, Micro-Tech Endoscopy is mainly engaged in the R&D, manufacturing, and sales of minimally-invasive medical devices, in line with its mission of supporting clinicians with technology and innovation.

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Key Takeaways from Cold Disposable Biopsy Forceps Market Study

• Oval cup forceps gained popularity and their sales are expected to grow at a CAGR of 8.8% during the forecast period.
• 2.8 mm diameter have sharpened cups whch ensure superior cutting performance and lead to fewer artefacts and less bleeding. The segment is therefore expected to account for a share of 24.9% in 2021.
• 2300 mm length forceps has precise jaws, no tearing and cause small wound. The segment accounted for the highest share of 37.9% in 2021.
• Upper GI Endoscopy dominated the application segment with the highest market share of 24.9% in 2021.
• Hospitals accounted for the largest share of around 42.0% in 2021 and will remain the end user in the market.

“High prevalence of conditions such as IBD and GERD and growing demand for minimally invasive endoscopic procedures are set to boost the demand for cold disposable biopsy forceps market over the next decade,” says the Future Market Insights analyst.

Who is winning?

The key players are focusing on acquisitions and partnerships with small players and suppliers to increase their market presence. Besides this, they are adopting various strategies to expand their footprint. For instance:

iIn April 2018, Boston Scientific Corporation closed its acquisition of NxThera. The company developed a minimally-invasive therapy the Rezūm system, for patients suffering from symptomatic benign prostatic hyperplasia. With the completion of the acquisition, NxThera became a part of Boston Scientific’s urology and pelvic health business. Moreover, the manufacturers are focusing on research and development activities for developing cold disposable biopsy forceps for various research applications.

In july 2020, ChargePoint and STERIS collaborated to develop a fully validated sterile transfer solution to offer a unique and integrated solution for sterile product transfer.

Some of the leading players in the cold disposable biopsy forceps market include but are not limited to Olympus Corporation, Boston Scientific Corporation, STERIS, CONMED Corporation, Cook Medical, Micro-Tech Endoscopy, Anrei Medical and other companies.

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Want more insights?

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global cold disposable biopsy forceps market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The cold disposable biopsy forceps market is segmented into six parts based on product (oval cup, oval cup with needle, alligator jaw, alligator jaw with needle) based on diameter (1.2mm, 1.8mm, 2.0mm, 2.4mm, 2.8mm, 3.7mm) based on length (1150 mm, 1550 mm, 2300 mm), based on application (enteroscopy, upper GI endoscopy, lower GI endoscopy, bronchoscopy and others, based on end user (hospitals, ambulatory surgical centers specialty clinics, diagnostic laboratories, and cancer research institutes) and across seven major regions.

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About Us    

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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The Saudi Arabia pharmaceutical market is estimated to be valued at US$ 5,209.5 Mn by 2016 end and is expected to expand at a CAGR of 9.0% over the forecast period (2016–2026). The significant rise in lifestyle-related diseases and the developments in healthcare infrastructure are expected to influence the demand for pharmaceuticals in Saudi Arabia. In 2016, the Saudi Arabia pharmaceutical market is anticipated to procure value worth US$ 5,209.5 Mn at a y-o-y growth of 6.0 % over 2015. The mounting demand for branded drug products will continue to incite the growth of the Saudi Arabian pharmaceutical market in 2016.

The demand for pharmaceuticals in Saudi Arabia is expected to register substantial growth owing to the increasing penetration of health insurance companies and the rising incidence rate of non-communicable diseases. Furthermore, the exceptional rise in the per capita income of Saudi Arabia is also expected to foster the demand for branded pharmaceutical drugs. Another key factor driving the growth of the pharmaceutical market in Saudi Arabia is the country’s strategic move to allow 100% FDI in the pharmaceuticals sector. Although, the shortage of profound indigenous research capacity in the pharmaceutical industry and the delayed registration of drug and medicine patents is expected to limit the expansion of the market in 2016 and beyond.

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Based on the product type, the pharmaceutical market in Saudi Arabia is expected to witness an upsurge in the prescription-type branded drug products. In terms of market value, the branded drugs are estimated to reach US$ 2,760.8 Mn by 2016-end. The demand for generic drugs is projected to secure steady growth, attributing to the insisting promotion of generic drug adoption by healthcare insurance providers.

On the basis of the diseases, the pharmaceutical drugs used for treatment of cardiovascular diseases will continue exhibiting robust growth in 2016. The demand for cardiovascular medications will continue to surge due to the prominence of circulatory disorders in Saudi Arabia. Additionally, the rising prevalence of disorders related to body sugar levels is expected to make diabetes a rapidly growing disease-based sub-segment in the Saudi Arabia pharmaceutical market.

The pharmaceutical market in Saudi Arabia is also segmented on the basis of distribution channel, where retail pharmacies will continue to account for 80% market share compared to hospital pharmacies. The westernised modernisation of retail pharmacies in Saudi Arabia has led to the availability of a wide range drugs and medicinal products, thereby attaining a considerable growth in the retail pharmacy sub-segment in 2016 and further.

The rising resource potential in Saudi Arabia is projected to positively reform the production environment for pharmaceutical manufacturers. In order to expand the market’s size, structuring alliances with well-established native companies is predicted to be a key strategy for global pharmaceutical leaders. The key players in the Saudi Arabia pharmaceutical market include Novartis AG, SPIMACO, Pfizer Inc., and Glaxosmithkline plc., Jamjoom Pharma,  and Tabuk Pharmaceutical Manufacturing Co. among others.

Long-term Outlook: The Saudi Arabia pharmaceutical market is expected to expand at a CAGR of 9.0% over the forecast period 2016-2026. In terms of market value, the pharmaceutical market in Saudi Arabia is estimated to be worth US$ 12,281.4 Mn by the end of forecast period.

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Key Segments Covered

Product Type:

• Prescription Products
  • Branded Drugs
  • Generic Drugs
• Over The Counter (OTC) Products

Disease Type:

• Cardiovascular Diseases
• Diabetes
• Cancer
• Obesity
• Infectious Diseases
• Other Diseases

Distribution Channel:

•  Hospital Pharmacies
• Retail Pharmacies

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About Us    

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.

Contact:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware – 19713, USA

T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com

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