Market Research Blog – Page 13280 – New Product Development

Infusion Pumps Market was valued at US$ 4.4 Bn in 2022 and is expected to reach US$ 6.6 Bn by 2030

FMI’s recent report on infusion pumps projects the market to surge at a CAGR of 5.4% from 2020-2030. Growth is attributed to increasing diabetic population across prominent regions. As per World Health Organization’s projections, there were 422 million diabetic people as of 2014, with a 5% increase in premature mortality.

Consequently, there has also been an increase in associated co-morbidities such as strokes, heart attacks, kidney failure and visual impairment. As a result, infusion pump usage has upticked in order to provide the appropriate medication and nutritional input.

To facilitate efficient drug delivery, manufacturers have incorporated various technological advancements in recent years. Additionally, the advent of wearable and smart infusion pumps is further fueling the market’s revenue prospects.

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Global Infusion Pumps Market- Key Takeaways

Rising prevalence of cancer to push forward oncology-grade infusion pumps usage in the coming years
Ambulatory pumps are poised to hold major sway in the wake of swift drug and nutrient delivery
Europe to pivot global infusion pumps market growth, capturing over 1/3^rd of the revenue pie
Global infusion pumps market is likely to surpass US$ 6 Bn by 2030-end
Favorable business reimbursement policies are expected to bolster infusion pumps demand in coming years

COVID-19 Impact Analysis

The COVID-19 pandemic is anticipated to have a moderate impact on the global infusion pumps market. In the initial months of the pandemic’s onset, a slump in the demand-supply equation was observed. This was in response to the imposition of lockdowns and social distancing protocols. Eventually, a resurgence was recorded.

In recent months, regulatory authorities such as the U.S Food and Drug Administration (FDA) issued emergency use authorization to increase the availability of infusion pumps and related accessories. Infusion pumps have been pivotal in administering vital medicines and parenteral nutrition to patients admitted for chronic ailments.

As hospitals reach a saturation point, governments are providing flexibility to infusion pump manufacturers to address supply shortages by permitting them to resume operations. This is slated to sustain the infusion pumps market demand in the short-term forecast.

Global Infusion Pumps Market- Competitive Intelligence

Prominent players in the infusion pumps landscape include Fresenius Kabi AG, Terumo Corporation, Medtronic Plc, Baxter International Plc., Smith Medical, MOOG Inc., Johnson & Johnson Services Inc., ICU Medical Inc. and Becton Dickinson & Company among others.

Product launches, expansions, collaborations and other inorganic strategies are being pursued by the aforementioned players. In 2019, Terumo Corporation announced the launch of its TERUFUSION Infusion Pump Type LM Series which utilize smart cutting-edge IT solutions to deliver optimal management and prevents inadvertent excess infusion of drugs into the patient.

In 2010, Hospira Inc. partnered with Smith Medical to market and promote various infusion pumps. The companies collaborated in order to co-promote Hospira’s Symbiq and Plum A+ general infusion pumps along with its Hospira MedNet safety software. The venture also promoted Smith Medical’s Medfusion syringe pumps with the PharmGuard Medication Safety Software.

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• Comprehensive analysis on evolving purchase pattern across different geographies
• Detailed insights of market segments and sub-segments for historical as well as forecast period
• A competitive analysis of prominent players and emerging players in the keyword market
• Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years

Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

About FMI:

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Self Testing Market sales will be worth USD 11 billion by 2030

30-50% of consumers prefer using at-home diagnostics for various conditions, and global self-testing kits market revenues are set to grow 2x by 2030 – these are the findings of a new study by Future Market Insights (FMI).

Key Findings of the Study

Global revenues will grow at 5.5% CAGR over forecast period, 2020-2030
Blood glucose testing to hold prominent share in self-testing market, owing to high prevalence rate of diabetes
Self-testing kits for testing urine and blood samples to account for greater demand through 2030
Retail and online pharmacies, will collectively capture nearly 60% revenue share
High-growth markets in APAC to witness heightened activity

“Lack of trust on accuracy and quality and reluctance of individuals to address health issues are key challenges before self-testing market players. Bringing regulations to effect, abidance with prevalent accreditations, and developing transparent solution to fulfil diagnostic requirements of individuals are the order of the day,” says analyst at FMI.

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COVID-19 Impact on Self-testing Market

In wake of the COVID-19 pandemic, movement restrictions (lockdown) and mass testing have become key measures to control the virus contagion. To achieve the objective, self-testing kits are emerging as a cost-effective way to reach wider sections of society.

Realizing their potential, government agencies such as the Food and Drug Administration (FDA) are granting rapid approvals to at-home COVID-19 test kits, for instance,

LabCorp – company that has network of medical labs across the US – has developed at-home COVID-19 test kit that will bring coronavirus testing to doorsteps of every household.
Everlywell – a health and wellness company – has designed at-home COVID-19 testing kit that enables individuals to self-collect nasal samples at respective homes and send them to designated laboratories for diagnostic testing. The offering has received emergency use authorization from the FDA.

Authorization of COVID-19 at-home collection kits that will be used with multiple tests at multiple labs offers better patient access to tests as well as protects people from potential spread.

Self-testing for COVID-19 as a novel clinical pathway will demand for proactive monitoring and analysis for efficiency. However, realizing the existing restricted state of access to testing for significant number of individuals, risk of inaction will be a major concern.

Self-testing Market – Competitive Intelligence

The global self-testing market is highly consolidated with top 5 years accounting for over three-fourths of total market revenue. Leading players are highly focusing on mergers & acquisitions (M&A) to remain competitive in global landscape. Case in point,

Procter & Gamble (P&G) has acquired This is L. Inc. – which is among fastest growing feminine care brands in the US – in order to further its commitments to support women and girls as well as its existing feminine care portfolio.
Ascensia Diabetes Care Holdings AG has teamed up with POCtech Co. Ltd.to co-develop and distribute continuous glucose monitoring systems.
bioMérieux – global leader in vitro diagnostics – has entered into an agreement with Baxter International Inc. – world leader in acute care – to design future biomarkers with the aim to rapidly recognize and offer treatment for acute kidney injury.
Siemens Healthineers has taken -based Fast Track Diagnostics (FTD) (Luxembourg), which is global supplier of molecular diagnostic tests.

Want more insights?

Future Market Insights, in its new study, provides compelling insights about the self-testing market that encloses industry analysis for 2015 – 2019 and opportunity assessment for 2020 – 2030. The report offers unbiased assessment on self-testing market through five different categories – product type, application, sample type, distribution channel, and region. The global self-testing market research study delivers insights of pricing by different life cycle analysis, product life cycle, major market trends and technologies that are being utilized in the development of self-testing products and product adoption in various end users.

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Patient Identification Wristbands Market is set to experience a significant growth of 7.9% CAGR from 2022 to 2030

Patient safety is the key focus for healthcare organizations around the world. As a result, they are mobilizing latest technologies to offer safer and improved patient care. Patient identification solutions are therefore rolled out across hospitals and specialty clinics to ensure accuracy in patient identification and administer effective treatment that complement’s with patients’ health requirements.

In a recent report, Future Market Insights (FMI) studies the scope for expansion of the patient identification wristbands market. The report forecasts the market to record a robust expansion at nearly 7.8% CAGR between 2020 and 2030. Besides soaring cases of infection and focus on streamlining hospital management while saving time and cost incurred will drive the market for patient identification wristbands market.

The report sees lucrative prospects for the market in the rising implementation of radio frequency identification tags (RFID) technologies in the healthcare sector. With the uptake of automated identification technologies hospitals and other healthcare institutions are aiming at saving time and cost incurred by providing real-time identification, traceability, temperature, communication, and location data of patients.

Using health information technology to improve patient care has become a top priority for healthcare organizations around the world. Besides this, technologies such as patient identification wristbands promise to up the overall quality of patient care. FMI sees the rising focus on improving the overall quality of services as a key factor driving the market for patient identification wristbands.

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Some of the key takeaways from the report are:

The market for patient identification wristband was valued at US$ 374.7 Mn in 2019
North America is forecast to remain a lucrative market, driven by strong demand in the US
South Asia and East Asia markets are forecast to rise at a higher CAGR
Market is forecast to remain competitive, thanks to the high degree of fragmentation yet tier one companies are expected to hold sway
Demand for better managing patient care and monitoring treatment administered amid soaring cases of chronic ailments, patient identification solutions will prove indispensable to healthcare sector

COVID-19 Impact on Patient Identification Wristbands Market

Partial and complete lock down of economies during pandemic crisis has greatly hampered the production of patient identification wristbands. The unprecedented COVID-19 outbreak has yet again brought the fragile pharmaceutical supply chain to the limelight.

Emergency care as well as supply of drugs are hampered during pandemic and so is the production of patient identification wristbands. While operations in the market is expected to remain sluggish, they are forecast to recover amid rising demand from June 2020.

The market is likely to experience short-term negative impact owing supply chain disruptions caused by the pandemic crisis. However, government stimulus to essential services such as healthcare, will help the market stay afloat amid the tumultuous times.

Who is winning?

The presence of several companies has rendered the patient identification market highly fragmented. Competition witnessed in the market is therefore soaring, although majority of share is held by the tier 1 companies.

In order to navigate through prevailing competition, most companies are aiming at making a mark overseas. For this, they are adopting strategic collaborations to expand their footprint worldwide and boost their product portfolio.

Some of the companies have even invested in setting up new facilities in the past to gain competitive advantage. For instance, in March 2018, Medline opened a new warehouse in the U.K. to leverage and support their business operation in the country.

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Prescription Delivery Services Market to expand staggeringly at a CAGR of 18.4% throughout the 2020-2030

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

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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.

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.

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Medical Nitroglycerin Sprays Market is expected to register a CAGR of 4.2% during the forecast period 2020-2030

In a recent study, Future Market Insights (FMI) has forecast the medical nitroglycerin spray market to record consistent growth between 2020 and 2030. The report also projects the market to reach a valuation of US$147.3 Mn by the end of 2030.

Rising prevalence of cardiovascular ailments around the world have led to significant developments in cardiac treatments. Among those, heightening adoption of nitroglycerin sprays is touted as one of the most renowned treatment approaches.

Coronary heart disease is among the leading causes of morbidity and fatality amongst heart patients. This disease is the leading cause of angina pectoris, or acute chest pain, caused due to blockage of arteries. To offset the discomfort, adoption of nitroglycerin sprays is rising significantly.

A significant proportion of the global heart ailment population remain undiagnosed for angina pectoris. According to FMI, this undiagnosed population base is what would possible heighten growth prospects for the market across the upcoming forecast decade.

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Key Takeaways from the Medical Nitroglycerin Sprays Study

North America touted to retain market hegemony, capturing over two-fifths of the revenue share
Prophylaxis of angina pectoris to remain the dominant segment, expanding steadily at 4.1% CAGR from 2020-2030
By distribution channel, online pharmacy sales are poised to witness credible expansion owing to the pandemic and deepening digital literacy
90 metered sprays/bottle dose capacity to remain the most preferred option, registering an index of 1.4
Global medical nitroglycerin sprays market is likely to expand steadily, registering a CAGR of 4.2%

COVID-19 Impact Insights

The COVID-19 pandemic has had detrimental impacts on the world at large, bringing in massive revenue shortfalls and reduced profit margins. A long-term economic recession is likely to be perpetuated for the forthcoming years.

With regard to nitroglycerin sprays, the market is expected to decelerate in the professional caregiving sector, attributed to shifting priorities towards the pandemic’s eradication. Therefore, elective surgeries for cardiac diseases are being postponed, leading to limited uptake of nitroglycerin sprays.

This deferment of elective cardiovascular surgeries is prompting patients to opt for homecare alternatives. Consequently, oral and sublingual administration of nitroglycerin sprays has been rising steadily to prevent acute angina attacks.

Competitive Intelligence

The global medical nitroglycerin sprays market is highly consolidated, with the presence of four prominent players: Perrigo Company Plc., Evus Health Solutions LLC., G. Pohl-Boskamp GmbH & Co. and Akrimax Pharmaceuticals LLC. These players primarily concentrate on portfolio strengthening by introducing new products into the market.

G-Pohl-Boskamp GmbH & Co. is one of Germany’s most successful independent pharmaceutical producers. Its product portfolio includes a range of products for several chronic conditions. In this case, the company manufactures the Nitrolingual Pumpspray available in 60 and 200 metered sprays per container.

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Allergy Immunotherapy Market is expected to reach a valuation of US$ 2,892.2 Mn by 2030

In its new study, Future Market Insights (FMI) has forecast the global allergy immunotherapy market to register healthy growth between 2020 and 2030. The study also projects that market will reach a valuation of US$ 2,892.2 Mn by the end of 2030

The increasing prevalence of various kinds of allergies – allergic rhinitis, allergic asthma, food allergies, skin allergies, and others is propelling the demand for effective treatments. As patients seek advanced treatments to develop resistance against allergies and lead a hassle-free life, allergy immunotherapy has emerged as a fitting medical solution.

Moreover, allergic rhinitis is among the most common allergies, affecting 10% to 30% of the global population. Also known as hay fever, it leads to inflammation in the nose, swelling in the eyes, sneezing, among other symptoms when the person is exposed to allergens – mostly dust mites and pollen.

Although a remarkable proportion of the population does not seek medical attention, rising awareness regarding the availability of these treatments, coupled with increased spending on healthcare is expected to remain a crucial demand-side trend through the forecast period.

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Key Takeaways from the Allergy Immunotherapy Study

On the basis of product, injections are poised to account for over 2/3rds of market share backed by their effectiveness and easy availability
Based on immunotherapy, SCIT holds the lion’s share in market value, accounting for 66% of global value, while SLIT is exhibiting higher attractiveness
Among indications, allergic rhinitis and allergic asthma are poised to collectively account for around 3/5th of global value, ascribed to their high prevalence
By type of allergen, pollens and house dust mites will cumulatively account for more than 2/5th of market value since pollens such as grass pollen and weed pollen are highly common in living areas
Based on distribution channels, institutional sales account for more than half of overall value owing to high inpatient rates in government and semi-government hospitals
Europe is expected to prevail as the most lucrative regional market, on the back of the rising prevalence of different types of allergies in the region
North America and East Asia will cumulatively account for more than a quarter of market value, owing to the presence of a wide population base with allergies coupled with developing healthcare infrastructure

COVID-19 Impact on Allergy Immunotherapy Market

The outbreak of COVID-19 has sent ripples of uncertainty across the global pharmaceutical sector and the allergy immunotherapy market is no different. The market is expected to witness several mid-term and long-term impacts due to the pandemic, as demand for SLIT tablets and injections experiences contraction. Likewise, shifting presence towards essential drugs is causing a delay in services, thus further slowing down the growth of the market. Along similar lines, shortages of staff and hindered supply chains during nation-wide lockdowns will further challenge the growth through the pandemic.

Who is Winning?

Key players operating in the market are directing their efforts towards developing novel products and obtaining approvals to ensure revenue prospects and maintain their foothold amid the competition.

FMI’s report includes profiles of some of the most prominent names in the market including ALK Abello (Europe), Stallergenes Greer (Europe), Allergy Therapeutics (Europe), Aimmune Therapeutics (U.S.), Anergis (Europe), Arrayit Corporation (U.S.), Biomay AG (Europe), HAL Allergy Group (Europe), DBV Technologies (Europe), and others.

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Application Delivery Network Market is Expanding at a CAGR of 11.2% 2022-2028

Expanding at a CAGR of 11.2% the global application delivery network market is projected to increase from a valuation of US$ 6,650.1 Mn in 2021 to US$ 13,942.7 Mn by 2028. Application delivery network market accounted for around 30% of Content Delivery Network (CDN) Market.

The global market for application delivery network is anticipated to show lucrative growth during forecasted period. This attributes to increasing adoption of application delivery controllers, WAN optimization controllers, application security equipment, and application gateways in applications across various industry like arts, entertainment and recreation, retail trade, and many others.

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Deployment of application delivery network platforms catalyzes the application delivery process at data centers, in addition to facilitating the application responsiveness and application load time. The key objective of the application delivery network is to enhance the user experience and deploy technologies that improve network security and latency. These advantages will continue to boost the adoption of application delivery network by businesses in the near future.

Vendors Maintaining the Focus on Specialized Application Delivery Network for Different End-Users

In the application delivery network market, established vendors are undertaking research initiatives to develop specialized application delivery network equipment for different end-users, such as cloud service providers and telecommunication service providers, among other enterprise networks. Application delivery networking platforms integrated with application control and classification features are enabling enterprises to control the flow of applications over the network.

Application visibility and control features are allowing enterprises to fulfill the regulatory needs while knowing the type, nature, and other parameters of applications running across the application delivery network. These benefits offered by application delivery networks enable enterprises to offer better service, control expenditure and provide effective security. Mission-critical applications are protected and non-business applications do not overrun the application delivery network. This trend is expected to play a major role in accelerating the adoption of application delivery network services on a global scale.

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Application-related advancements in application delivery networks, responses to customer devices and innovations in real-time decision-making, and features such as compression, routing, & other probable transformations are expected to offer lucrative opportunities in the global application delivery network market. Big Data is expected to be leveraged to further enhance advanced networking and network analytics. This factor is expected to drive automation and enhance application delivery networking abilities during the forecast period.

Equally Strong Adoption of Application Delivery Network among SMEs & Large Enterprises

Various SMEs in emerging markets are focusing on utilizing application delivery network platforms and the internet to enhance their market diffusion. Large organizations are focusing on providing an interactive and engaging digital experience that relies on heavy multimedia content. This is likely to increase the loading time of webpages and other applications due to increasing congestion and traffic on the internet. Customer engagement is vital for the sustenance of enterprise businesses and is becoming increasingly challenging with continuous fluctuations in online economic conditions characterized by intense competition. This is expected to increase the deployment of content and application delivery networks for the efficient delivery of web- and application-based static and dynamic content during the forecast period.

Application delivery networks ensure the availability, speed, and security of applications. A suite of technologies is delivered over a special network, which is designed to maximize the overall performance of applications. The distribution of network traffic across multiple servers is often required to enhance application responsiveness. Unlike content delivery networks, which deliver static content, application delivery networks optimize the delivery and acceleration of dynamic content.

Geographically, the application delivery network market in North America is estimated to continue to hold the largest share of the global application delivery network market throughout the forecast period, owing to the focus of enterprises on enhancing web and application-based market diffusion. The South Asian application delivery network market is expected to witness a comparatively higher application delivery network procurement owing to the focus of companies and governments on accommodating the next-generation applications in the region.

Some of the key players in the global application delivery network market report include Cisco Systems, Inc.; Citrix Systems, Inc.; Dell Inc.; Juniper Networks, Inc.; Hewlett Packard Enterprise Development LP; Verizon; Oracle; A10 Networks, Inc.; Symantec Corporation; Array Networks, Inc.; F5 Networks, Inc.; Aryaka Networks; Radware; and Riverbed Technology.

Key segments in the global application delivery network market:Product

Application Delivery Controllers
WAN Optimization Controllers
Application Security Equipment
Application Gateways

End-user Environment

Cloud Service Providers
Telecommunication Service Providers
Other Enterprise Networks

Deployment Type

On-premise
Cloud

Vertical

Finance and Insurance
Educational Services
Arts, Entertainment and Recreation
Public Administration
Retail Trade
Health Care and Social Assistance
Manufacturing

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Key regions covered in the global application delivery network market report:

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

Stethoscope Market is forecast to rise at 5.2% CAGR during the forecast period (2020-2030)

Stethoscope being an integral part of the modern medical diagnosis sector, has been gaining significant traction. According to a recent study by Future Market Insights, the stethoscope market is forecast to expand at above 5% CAGR between 2020 and 2030.

Stethoscopes are often considered a physician’s third hand and the current digital advancements have ensured better performance.

The key market players such as American Diagnostic Corporation, 3M Company, Eco Devices Inc. and others are investing heavily to offer digitization of various medical tools. They are focusing on technological advancements also gain competitive advantage in the global market. The leading companies have started developing electronic stethoscopes in order to detect critical cardiovascular conditions much earlier than the normal stethoscopes can.

The FMI report offers in-depth research and analysis of the global stethoscope market, its potential and growth scopes during the forecast period (2020-2030).

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Some of the key takeaways from the report are as given below-

The global stethoscope market is set to grow by 5.2% CAGR during the forecast period (2020-2030).

Cardiovascular (CVS) disease being the main area of focus for the application of stethoscope in the medical sector, is to remain in the top factors for the increase in market demand
By product acoustic stethoscope will keep leading the global market throughout the forecast period (2020-2030)
Physician office, home care settings, hospitals and others to remain the top end-users catering to the market growth throughout the forecast period. Of these, demand from hospitals is set to be higher
Region-wise North America and Latin America to lead the global market. Europe, South & East Asia, Oceania and MEA to sustain as other region-wise key players.

Rising Focus on Health and Wellbeing Boosting Growth

As people are getting more conscious about their health and well-being, the digitized sectors like stethoscope market is anticipated to expand further during the forecast period, reaching US$ ~ 914 Mn by the end of the year 2030. The recent COVID-19 pandemic has even accelerated the growth of medical diagnosis which is resulting in the steady market growth over the years in future.

Currently the global stethoscope market holds unlimited opportunities for the global market players and so, the dominant market holders have already started adopting various digitized tools and procedure to remain in the top places. For instance, the digital Eko CORE has brought their advanced algorithms which can automatically screen patients and is capable of providing up to 40x amplification of acoustic sound along with advanced noise elimination technology, as well as the modern flexible feature of switching between digital and acoustic modes.

COVID-19 Impact Analysis

Due the outbreak of novel coronavirus during the recent time, the demand of modern digitized stethoscopes has increased across the countries. The pandemic has created more awareness among the people as well as there is surge in the need of getting diagnosed earlier than the other times.

These altogether have increased the global stethoscope market demand among the top end-users, starting from physicians to hospitals or home care providers. As the increased concern regarding health, especially heart and lungs related issues tends to sustain, the COVID-19 impact on the global stethoscope market will be long-lasting, opening endless opportunities to the market players during the forecast period.

Who is winning?

The global stethoscope market being emerged as a highly potential domain for the market dominating companies, the key market holders are evolving by adoption of various modern technologies. The leading Companies like, Think Labs Medical LLC, Rudolf Riester GmbH, Meditech Equipment Co., Ltd. and others have started their research and release of various brand-new products to expand further throughout the forecast period (2020-2030).

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Digital Wound Measurement Devices Market is expected to register steady growth, expanding at 4.5% value CAGR from 2020-2030

Wound care measurement has been acquiring immense significance in recent years. Growing incidences of traumatic injuries due to accidents and prevalence of chronic diseases such as diabetes mellitus are primary growth stimulants. Healthcare industries worldwide are adopting technologically enhanced wound management systems to provide quality care solutions to patients. As a result, digital wound measurement devices market is gaining steady ground.

Biosensors are being extensively incorporated as they are highly effective in providing critical data regarding bacterial colonization, oxygen, glucose and pH levels at the wound site, enabling doctors to diagnose and treat wounds accordingly. Several universities and institutions are augmenting their research capabilities to conduct further studies on biosensor-enabled devices.

Digital Wound Measurement Devices Market- Key Takeaways

A CAGR of 4.5% is projected for the forecast period ranging from 2020-2030
Rising smartphone and IoT device ownership is deepening telehealth penetration, providing traction to the market
Diabetic ulcers to account for the lion’s share owing to increasing prevalence of diabetes mellitus
North America to lay suzerainty over the global market, capturing over 40% market share
New product launches and collaborations constitute primary market expansion strategies of prominent vendors

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COVID-19 Impact Analysis

The wound care market has been impacted by the coronavirus pandemic, and is anticipated to experience a moderate slowdown in growth through 2021, attributed to a decline in surgical procedures. However, the chronic wound patient pool will continue requiring treatment, ushering in a consistent revenue stream for chronic wound devices.

Practitioners are exploring opportunities to incorporate digital wound measurement devices to treat COVID-19 patients, primarily to provide relief from lung inflammation by checking and curtailing the secretion of interleukin-6, a pro-inflammatory cytokine.

Demand for homecare wound measurement devices has spiked, attributed to increase in home visit frequencies across countries for patients suffering from chronic conditions. All these factors are expected to have a considerable influence on the market’s growth trajectory in the short-term forecast period.

Digital Wound Measurement Devices Market- Competitive Landscape

Prominent players within the digital wound measurement devices landscape include Perceptive Solutions Inc., ARANZ Medical, Smith & Nephew plc, WoundVision Inc., WoundMatrix Inc., KCI, Parable Health, Hitachi Healthcare Americas, 3M Company and WoundRight Technologies.

In 2017, WoundMatrix Inc., inked a decade long partnership with the Kent Community Health NHS Foundation Trust (KCHFT) to provide telemedicine and wound care programs aimed at improving healthcare services across the United Kingdom, including wound care and management.

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Poultry Diagnostics Market is predicted to expand at an impressive 10.5% CAGR from 2022 to 2028

Future Market Insights in its new report has projected positive growth prospects for the poultry diagnostics market for the assessment period between 2020 and 2030. High consumption of chicken on a global scale and increasingly strict food safety standards in developed countries will held aid growth.

Widespread outbreaks of infectious diseases such as avian influenza is a key factor driving the demand for diagnostic infrastructure in the poultry industry. Also, awareness campaigns by public and private bodies about avian diseases among poultry farmers is positively influencing the industry.

Furthermore, concerns over food security and investments by governments and international bodies towards the intensive farming sector will drive cultivation of poultry. This will also support the demand for poultry diagnostics in the long-term.

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Key Takeaways

ELISA tests are expected to continue holding major market share through 2030, owing to superior accuracy and cost efficiency.
Diagnostics for avian influenza has been estimated to reflect higher market share on the back of widespread incidences in developing countries.
Newer ailments such as mortality syndrome are expected to generate lucrative opportunities in terms of product development and interest from the veterinary sector.
Virology services are expected to be a major contributor to the market owing to higher risk from viral infections for human consumers.
South Asia & Pacific, will reflect fast growth, with poor hygiene standards in developing nations. North America will continue to hold larger market share, owing to superior infrastructure.

Insights on the Coronavirus Impact

As the covid-19 outbreak continues to wreak havoc on the global economy, the poultry diagnostics market is expected to also be adversely impacted during the crisis period. While chickens and other poultry birds are not at risk to the virus, the pandemic is likely to hurt consumption, logistics, and sales of birds. This can be largely attributed to strict regulations on the food service businesses.

These factors are expected to reduce chicken stocks in the poultry industry for the short term, which in turn will reduce the demand for diagnostic tools and infrastructure in the industry. The market is likely to recover strongly towards 2021, as demand for poultry products picks up. Strict food safety laws and concerns over other strains of coronavirus will aid market developments.

Market Competitiveness

Market leaders in the poultry diagnostic industry include but are not limited to Agrobiotek Internacional, Bioneer Corporation, Affinitech Ltd., Zoetis Inc., Biochek, Thermo Fisher Scientific, Bioingentech Biotechnologies Inc., Qiagen N.V., Bionote Inc., Megacor Diagnostik GmbH, and Idexx Laboratories Inc.

Market participants are increasingly focused on the product research with the aim of developing and launching improved testing tools for faster and accurate results. In addition, strategic industry collaborations and acquisitions are being used to build a foundation in a moderately competitive landscape.

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