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Point-Of-Care Molecular Diagnostics Market 2022 (COVID-19 Impact Analysis Included) Opportunities, Regional Overview, Top Leaders, Revenue and Forecast to 2032

Per the point-of-care molecular diagnostics market survey by Future Market Insights (FMI), the market is forecasted to move forward at an average pace and register a CAGR of 8% from 2022 to 2032.

Many current POC diagnostics are based on lateral flow immunoassay technology, and these instruments use antibodies to detect the presence of an analyte, such as cancer biomarkers, in a short period and thus, having the effect of spurring the point-of-care molecular diagnostics market growth to a large extent.

As per the point-of-care molecular diagnostics market report, the demand for point-of-care molecular diagnostics is on a surge owing to the growing trend toward preventive medicine. This is considered to shape the point-of-care molecular diagnostics future trends to a large extent.

According to United Nations data, the number of older adults has steadily increased for decades. As a result of this demographic shift, the prevalence of various chronic diseases is rising, thereby facilitating the adoption of point-of-care molecular diagnostics devices.

The study finds that current cancer diagnostic methods are invasive (for example, cystoscopy, which involves inserting a hollow tube/cystoscope installed with a lens into the urethra and bladder to diagnose cancer). However, less invasive methods, such as point-of-care molecular tests, can be available for point-of-care cancer diagnostics, broadening the point-of-care molecular diagnostics opportunities.

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Though most of the industries’ overall sales of molecular diagnostics dwindled steeply due to the COVID-19 pandemic and the use of molecular diagnostic methods for COVID-19 testing, it had a positive impact on the point-of-care molecular diagnostics market size.

As countries gradually slacken their restrictions on movement, there is a resurgence in testing numbers. Aside from vaccines and therapeutic drugs, there is an increasing demand for the development of more precise and simple testing technologies and the expansion of testing structures.

Thus, point-of-care molecular diagnostics companies have made strategic decisions to introduce POC rapid tests, maintain revenue, and mitigate COVID-19’s impact on their operational capabilities. This point-of-care molecular diagnostics market trend is expected to continue in the coming years.

Aside from cancer in the elderly, respiratory diseases in children and adults are becoming one of the top five causes of death. However, as per Pfizer, there are currently no RSV immunization options available, although many vaccines are still in clinical trials.

People are dying due to this since they are unaware of the available treatment. Thus, the prevalence of point-of-care molecular diagnostic tests plays a vital role in quick analysis and, as a result, in providing patients with immediate treatment.

The point-of-care molecular diagnostics market is predicted to muster a total revenue of around US$ 4 Bn by 2026 on account of the abovementioned factors.

Key Takeaways

The assays and kits segment is expected to account for a significant chunk of the POC molecular diagnostics market based on the product type. The market growth of this segment is being driven by the widespread purchase of these products’ POC diagnostic devices as a result of their frequent usage.
The RT-PCR segment is expected to dominate the point-of-care molecular diagnostics market in terms of technology, owing to the increasing use of RT-PCR in proteomics, genomics, and COVID-19 testing and the availability of portable, easy-to-use POC devices.
The respiratory diseases segment is projected to lead the POC molecular diagnostics market on account of the shift of concentration by key players on various strategies for developing advanced point-of-care diagnostics devices.
By end-use, the hospital bedside segment is expected to witness the most significant point-of-care molecular diagnostics market share due to the rising adoption of advanced instruments in these settings and rapid investments in hospital infrastructure by the public and private sectors in emerging countries.
The Asia Pacific region is expected to proliferate due to the expansion of key market players, a lack of sophisticated central laboratory point-of-care molecular testing services, and the potential cost-effectiveness of POC molecular diagnosis.

Competitive Landscape

The top point-of-care diagnostics companies are developing most point-of-care molecular diagnostic tests and have established their market position by investing more in research and developing a better distribution system.

The entry of new players challenges the semi-consolidated market and may result in intense competition during the forecast period.

Furthermore, due to increased awareness, the Asia-Pacific region is seeing the emergence of some minor players, which aided the point-of-care molecular diagnostics market growth.

LLC. (US), Danaher Corporation (US), Alere Inc. (US), Quidel Corporation (US), Biocartis Group NV (Belgium), bioMérieux SA (France), Thermo Fisher Scientific (US), Mesa Biotech Inc. (US), F. Hoffmann-La Roche Ltd., and Meridian Bioscience Inc. (US) are the critical point-of-care diagnostic companies profiled in the global POC molecular diagnostics market.

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About FMI:

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Veterinary Infectious Disease Diagnostics Market Size Estimates and Forecasts by Region, Growth Rate and Trend Analysis by Types and Application 2022 to 2032

From US$ 1.5 billion in 2021 to US$ 3.8 billion in 2032, the veterinary infectious disease diagnostics market is predicted to grow at a 9.0% CAGR through 2032, finds an exclusive report by Future Market Insights.

As per veterinary infectious disease diagnostics market study, there is a rise in the number of pets, the rising incidence of zoonotic diseases, the growing adoption for animal-derived food products, the rising demands for pet insurance, the upsurge in animal health expenditure, and the surge in the number of veterinary practitioners and income levels in developed economies which are contributing to the veterinary infectious disease diagnostics market growth.

The overall veterinary infectious disease diagnostics market growth is projected to be hindered by rising pet care expenses. One of the critical challenges restricting veterinarians’ adoption of veterinary infectious disease diagnostics is a dearth of skilled veterinarians and diagnostic infrastructure, particularly in developing countries. Another key hindrance to broader adoption is the expensive cost of modern diagnostic tests.

The COVID-19 pandemic is predicted to have a temporary and moderate effect on the veterinary infectious disease diagnostics market during the forecast period.

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On a global scale, there has been an increase in the overall companion animal population and adoption rate. As a result, demand for pet care products and services are predicted to rise as the pet population grows, supporting the growth of related sectors such as veterinary infectious disease diagnostics.

Although the pet insurance industry is growing, the number of animals covered for treatment remains low. As a result, the animal’s owner usually bears the majority of the cost of treatment. Along with the rising cost of pet insurance, the cost of veterinary diagnostic lab treatment is also rising at a rapid pace.

The majority of veterinary clinics have basic veterinary laboratory testing capabilities.

Veterinary practitioners are under pressure to raise their fees due to the lower pay in this sector compared to other advanced-degree professions such as dentistry and law. In addition, high pet care expenses directly impact the number of visits pet owners make to veterinary lab facilities, limiting the veterinary infectious disease diagnostics market growth.

In the present COVID-19 pandemic, testing has shown that the virus travels more from animal diagnostics to the animal than from human to human or human to animal. Therefore, the demand for PCR panels for virus testing is projected to rise as more pet owners begin testing their animals for the absence of these diseases. This will unlock the veterinary infectious disease diagnostics opportunity for new molecular diagnostics panels to enter the vet lab market.

There is a significant imbalance between veterinary diagnostics demand and supply for veterinary specialists in developing economies such as Brazil, China, and Southeast Asia. The majority of veterinarians operate in private vet labs dedicated to companion animals around the world, resulting in a scarcity of resources for agricultural or food-producing animals.

According to end-users, reference laboratories are likely to dominate veterinary infectious disease diagnostics market growth. The veterinary diagnostics market is being bolstered by an increase in the number of samples for examination and an increase in in-house testing.

The Asia-Pacific area is set to grow lab for vets at a breakneck pace. Veterinary Infectious Disease Diagnostics manufacturers and important players will find attractive prospects in emerging economies like China, India, and South Korea. The region’s market is developing due to rising zoonotic disease occurrences and demand for infectious disease diagnostics.

Key Takeaways

The highest veterinary infectious disease diagnostics market is further expected to reach US$ 3.8 Bn by 2032.
According to AVMA, there were around 26,000 veterinary hospitals & clinics in the U.S. in 2019, and more than 80% of them provided point-of-care testing.
The consumables, reagents & kits product segment held the largest veterinary infectious disease diagnostics market share of more than 52% in 2021.
The study finds that Asia-Pacific has the highest veterinary infectious disease diagnostics market growth, which is growing due to the contribution of the following emerging countries such as India, with a CAGR of 11.7%.
The non-infectious diseases segment held the maximum veterinary infectious disease diagnostics market share of more than 27% of the global revenue in 2021.
The pathology testing type segment dominated the veterinary infectious disease diagnostics market in 2021 with a share of more than 13% owing to its wide variety of service offerings, such as various lab tests, imaging, and specialized tests.
The laboratories segment held the largest revenue share of more than 37% in 2021.

Competitive Landscape

The veterinary infectious disease diagnostics market is competitive, with only a few leading competitors.

Due to their significant regional footprint in many locations, these critical veterinary infectious disease diagnostics manufacturers had a strong market position. Biomerieux S.A., Heska Corporation, IDVet, IDEXX veterinary Laboratories, Inc., and Indical Bioscience are some market leaders.

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Sepsis Diagnostics Market Trends, Strong Application Scope, Key Players, Growth Overview and Forecast by 2032

According to a recent analysis from Future Market Insights, the global sepsis diagnostics market size is predicted to reach US$ 1.3 billion by 2032. Furthermore, it is expected to grow at a CAGR of 9% throughout the projection period. Over the projected period, the increased prevalence of sepsis, the development of technologically enhanced diagnostic methods, and growing government programs are expected to increase the number of active sepsis diagnostics companies.

The sector is booming due to increased demand for antibiotic-resistant bacterial strains, an ageing population, and a high prevalence of hospital-acquired infection. Additionally, a spike in the proportion of product approvals for sepsis diagnosis is expected to promote demand for sepsis diagnostics.

However, factors such as a lack of experienced specialists for diagnosing sepsis, a lack of knowledge, and the adoption of conventional processes during antibiotic production hamper the sales of sepsis diagnostic.

Owing to the rise in newborn umbilical cord infection occurrences and the number of surgical procedures in these countries, developing markets provide a positive outlook for sepsis diagnostics.

HAIs, also known as nosocomial infections, are a leading source of morbidity and mortality in hospitals around the world. Urinary tract infections, pneumonia, and sepsis are the most frequent hospital-acquired infections (HAIs). In addition, in immunocompromised individuals, aged patients, and people with chronic conditions, HAIs can cause sepsis. Because of the significant rise in HAIs around the world, demand for sepsis diagnostic devices is projected to expand in the future years.

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Sepsis is a complex condition to detect, and even a one-minute delay in antibiotic delivery increases the chance of death by 7.6% in septic shock patients with hypertension. As a result of the emerging trends in the sepsis diagnostics market, there is a greater need for quick sepsis detection to avoid antibiotic therapy delays in sepsis patients.

Many sepsis diagnostic companies are growing their product offerings in point-of-care technologies, which can quickly identify sepsis, cut down on diagnosis time, and improve life expectancy after sepsis.

The global sepsis diagnostics market is predicted to reach US$ US$ 770 Mn by 2026.

Key Takeaways

Attributed to the presence of a larger consumer population in developing markets such as India and China, the Asia Pacific region of rapid sepsis diagnostics is expected to grow profitably over the forecast period.
The global sepsis diagnostics market adoption trends indicate North America is likely to generate more than $200 million in revenue by the end of 2026. The sepsis diagnostics companies in the region are growing due to well-established healthcare infrastructure and increased usage of innovative products. Septic poisoning is also one of the leading causes of death in the United States.
As per the sepsis diagnostics market analysis, microbiology technology is likely to gain traction. Microbiology is expected to generate more than $200 million in income by 2026.
By product, the sepsis diagnostics market opportunities are divided into blood culture media, assays & reagent kits, devices, and software. The blood culture media segment held the most significant market share during the forecast period. This growth can be ascribed to a rise in blood culture media as a sepsis diagnostics device.

“Sepsis diagnostics device are expensive, limiting the growth of this industry. Additionally, in certain countries, there are no clear guidelines for the treatment of sepsis, and there is a lack of awareness about the repercussions of sepsis if it is not treated effectively.”

Competitive Landscape

Organizations in the global quality articulation market are consolidating and acquiring systems to gain a competitive advantage and generate significant profits. On the other hand, some players benefit from significant new work systems to gain a competitive advantage in the sepsis diagnostics market statistics.

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Lateral Flow Assays Market Analysis by Growth, segmentation, performance, Competitive Strategies and Forecast to 2032

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.

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.

Abbott Laboratories (U.S.), F. Hoffmann-La Roche AG (Switzerland), Danaher Corporation (U.S.), Siemens AG (Germany), Becton, Dickinson and Company (U.S.), bioMérieux S.A. (France), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (The Netherlands), PerkinElmer, Inc. (U.S.), and others are some of the major players in the lateral flow assays market.

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Drug Screening Market Size, Growth Opportunities, Industry Potential, Segmentation Overview, Trends And Forecast Studies 2032

As per the Future Market Insights research, the drug screening market is forecasted to advance at a tremendous pace with a CAGR of 16% during the forecast period 2022-2032.

A crucial driver of the drug screening market is the overuse of prescribed drugs and the elevated use of narcotics. According to one of the recent World Drug Reports, drug and alcohol abuse and consumption are on the rise globally.

Drug abuse killed nearly 500,000 people, while drug use disorders resulted in the loss of 18 million years of a healthy life, primarily due to opioids. Similar increases in alcohol consumption have been observed, with the consequences being an increase in the incidence of impaired driving.

The rising consumption of illicit drugs and alcohol will accelerate the development of drug screening products and services on the road, fuelling the drug screening market growth.

Some countries, including South Africa, Colombia, Chile, Argentina, and Canada, consider workplace drug and alcohol testing to violate employee privacy. Such prohibitions in various countries may impede the adoption of drug screening devices etc., thereby limiting the overall market growth.

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Several new products, devices, and services have also received regulatory approval and are being adopted by government agencies and corporate organizations and are expected to broaden drug screening market opportunities.

Companies in this market are expected to gain new opportunities as their business strategies shift toward oral swab drug tests and the development of the concept of fingerprint-based drug screening, thereby driving the demand for drug screening devices etc.,

Furthermore, New Psychoactive Substances (NPS) such as tryptamines, ketamine, piperazine, and phenethylamines can be considered emerging trends in the drug screening market. Owing to its low cost and dependability, urine samples are the most commonly used for testing, ramping up urine drug tests.

Influenced by factors as mentioned earlier and developments, the drug screening market is forecasted to touch US$ 11 Bn by 2026.

Key Takeaways:

By product type, the consumables segment is likely to dominate the market since they provide improved solutions to make testing accurate and quick, accelerating market growth.
As it is a quicker and less invasive sample to collect at the roadside, the oral fluid sample segment is expected to account for a significant drug screening market share by sample type.
By drug type, the cannabis/marijuana segment is forecasted to hold sway over the drug testing industry since marijuana or cannabis is the most commonly used illicit substance in critical markets.
Drug testing laboratories are predicted to be at the forefront of the market by end-use, owing to their widespread acceptance and accurate result.
The drug screening market size accounted for around US$ 5.3 Bn in 2021.

Competitive Landscape:

Some of the notable players in the drug screening market are Premier Biotech (US), Abbott Laboratories (US), Alfa Scientific Designs (US), OraSure Technologies (US), Shimadzu (Japan), Drägerwerk (Germany), LifeLock (US), Thermo Fisher Scientific (US), MPD Inc. (US), Omega Laboratories (US), Psychemedics (US), Roche (Switzerland), and Siemens Healthineers (Germany), Quest Diagnostics (US).

To capture larger market shares, key companies are pursuing various growth strategies such as mergers and acquisitions, geographic expansion, product invention leading to some significant recent developments in the drug screening market.

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Healthcare Interoperability Solutions Market Growth Trends, Key Players, Competitive Strategies and Forecasts to 2032

As per a recent healthcare interoperability solutions market analysis by Future Market Insights (FMI), the market is advancing at a remarkable pace with a CAGR of 14% during the forecast period 2022-2032.

Interoperability and data sharing will become increasingly pivotal and far-reaching for delivering effective healthcare as populations’ worldwide age and people live longer lives, thereby accelerating the healthcare interoperability solutions market growth.

The adoption of cloud technology related to healthcare services is one of the emerging trends in the healthcare interoperability solutions market and a major driving force.

Electronic health record data is rapidly growing, making it difficult to store large amounts of data on local storage devices without risking losing vital information.

The offline mode makes it difficult to share large amounts of data. As a result, healthcare interoperability software solutions are becoming essential and crucial. They enable easy sharing and storage of big data, which spikes the global healthcare interoperability solutions market size.

Furthermore, the government’s implementation of various healthcare reforms has increased the market’s demand for healthcare interoperability solutions.

On the flip side, raising concerns about the safety and security of patient data is putting a brake on the market. Due to the sheer rise in cyber-attacks worldwide, healthcare companies face a significant challenge in protecting patient information.

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The pandemic has had a positive impact on the market for healthcare interoperability solutions, and this is expected to shape the healthcare interoperability solutions market future trends.

Pre-COVID, healthcare organizations faced challenges with interoperability and ineffective data management, which were exacerbated during the pandemic, and clinicians missed important COVID-19 information due to interoperability issues in healthcare, which resulted in inpatient treatment delays and clinicians’ inability to document patients’ status adequately.

Due to the rapid changes each day of the pandemic, data exchange was ineffective and challenging to coordinate. With new coronavirus variants causing new COVID-19 outbreaks worldwide, data sharing through interoperability becomes even more critical.

On account of the factors mentioned above, the healthcare interoperability solutions market is likely to garner a revenue of about US$ 5.5 Bn by 2026.

Key Takeaways:

The services segment is expected to account for the largest share in terms of type in the healthcare interoperability solutions market. The recurring cost of services such as software upgrades/updates and maintenance accounts for a large portion of this segment.
Based on end use, the healthcare providers segment is anticipated to have the highest CAGR in the healthcare interoperability solutions market during the forecast period. The same can be attributed to the rising need to contain rising healthcare costs, patient volume etc.
Based on level, structural Interoperability possibly sums up the largest share in the healthcare interoperability solutions market due to the widespread adoption of eHealth system interoperability such as e-prescribing.
Owing to an uptick in demand for data exchange, the on-premise segment is likely to hold the majority of healthcare interoperability solutions market share based on deployment.
The diagnosis segment is expected to dominate the healthcare interoperability solutions market, given the growing need for adequate information flow for disease diagnosis, allowing healthcare professionals to assess patients’ conditions fully.

“The market for healthcare interoperability solutions is expected to dominate the North American region. Some of the major factors driving the adoption of healthcare interoperability solutions in this region are the growing demand for high-quality healthcare, the implementation of favourable initiatives, effective EHR implementation by healthcare organizations, and healthcare costs have nearly doubled in the last decade, particularly in the United States.

According to the Organization for Economic Co-operation and Development (OECD), public spending on healthcare and long-term care in OECD countries will rise from 6% of GDP in 2018 to nearly 9% by 2030 and 14% by 2060.” affirms an FMI analyst.

Competitive Landscape in Healthcare Interoperability Solutions Market:

The leading companies in the healthcare interoperability solutions market include Koninklijke Philips NV, Interfaceware Inc., Orion Health Group Limited, Infor Inc., Allscripts Healthcare Solutions, Inc., Cerner Corporation, Nextgen Healthcare, Inc., OSP Labs, EPIC Systems Corporation, and Intersystems Corporation.

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Stoma/Ostomy Care Market Covid-19 Impact Analysis, Size, Share, Key Trends, Demand and Forecast till 2032

Stoma/Ostomy Care market share is expected to grow at a slow growth rate of 4% over the forecast period 2022-2032, finds Future Market Insights (FMI) in a recent market analysis.

The rising prevalence of target diseases, innovations in ostomy goods and surgery methods, growing awareness, and reimbursements contribute to the stoma care market expansion.

The most common illnesses that necessitate ostomy care procedures are colorectal cancer, bladder cancer, and inflammatory bowel disease. The surgical excision of the aggressive melanoma of the intestine is used to treat colorectal cancer and inflammatory bowel disease (IBD). In some situations, a surgical incision is established through the abdomen to offer a new waste minimization conduit, known as an ostomy.

The adoption of stoma/ostomy care procedures performed worldwide has increased due to an increase in the occurrence of these illnesses and greater exposure to risk factors, such as altering eating habits and increasing antibiotic use in children.

Despite the recent developments in stoma care, the stoma/ostomy market faces a more significant number of restraints that limit the growth potential. The market is likely to be restrained by stoma care problems, discomfort, and other concerns linked to ostomy goods, societal stigma, and the increased acceptance of alternative therapies, particularly in developing nations.

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As per the stoma/ostomy care market analysis, following the COVID-19 pandemic, there has been a steady decline in the care and prognosis of colon cancer patients in hospitals. The coronavirus treatment was prioritized amongst CRC patients who contracted the virus without requiring surgery. The considerable delay in CRC treatment during the pandemic had a detrimental effect on the market

Although stomas are a reasonably common and safe surgery, there are certain risks. Although most stoma problems are mild, some, particularly necrosis and exhaustion, can become medical catastrophes. To some degree, these issues constrain the acceptance of stoma care appliances.

The stoma care market recorded a valuation of US$ 2.6 Bn in 2021, and is growing at an estimated CAGR of 4% during 2022-2032.

Key Takeaways:

As per the recent developments in stoma/ostomy care, the home care settings category led the market in 2020, accounting for 45.4 percent of total revenue, and is predicted to grow at the fastest pace during the forecast period. From 2021 to 2028, the accessories section is predicted to grow at the fastest rate of 6.6 percent as per stoma/ostomy care market trends.
In 2020, the ostomy bags sector in terms of product type held the most significant share of the stoma/ostomy care market, accounting for 88.50 percent. This segment is expected to grow at a CAGR of 4.2 percent during the forecast period.
Based on end users, hospitals, specialist clinics, and stoma care in nursing accounts for the highest share in the stoma/ostomy care market.
Regionally, Europe accounted for 37.85% of the stoma/ostomy care market growth rate in 2020 due to the prevalence of favorable reimbursement scenarios and improved stoma care procedures appliances and nursing considerations.

Competitive Landscape

The European stoma/ostomy care market size is the largest. However, as per the recent trends, key players are focusing on the Asia Pacific market, given the cheap labour cost to reduce their overheads and wide pool of patients.

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Drug Discovery Services Market 2022: Global Industry Analysis, Size, Share, Growth, Trends And Forecast To 2032

As per a recent report published by Future Market Insights, the global demand for drug discovery services is expected to rise at a 14.5% CAGR to acquire a valuation of US$ 50.9 Bn by the end of forecast period.

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.

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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Peptide Synthesis Market size, Insights, Prospects, Growth Trends, Key Trends, Opportunities and Forecast until 2032

As per the peptide synthesis market survey by Future Market Insights (FMI), the peptide synthesis market is forecasted to register a CAGR of 7% from 2022 to 2032.

Growth in this market is majorly influenced by the prevalence of a wide range of applications of peptides in the treatment of various lifestyle disorders, such as cancers, diabetes, and obesity.

Owing to their large chemical space, high biological activity, and low toxicity, peptide synthesis in pharmaceutical manufacturing is increasingly being considered as active in drug development and in turn is expected to flourish the peptide synthesis market and rise the adoption of peptide synthesis process.

Peptides generate billions of dollars in revenue in oncology, diabetes, and obesity, among other therapeutic areas.

The COVID-19 pandemic has prompted major pharmaceutical and biotechnology firms, as well as peptide synthesis firms, to invest in therapeutic and peptide-based vaccine research and development. Also, peptide synthesis has risen to the forefront due to increased demand for peptide synthesis drugs and vaccines.

The peptide-based approach marks a pivotal point as peptides have demonstrated unique selectivity and specificity toward specific targets.

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CoVac-1 is a peptide-based vaccine candidate that combines SARS-CoV-2 T-cell epitopes derived from various viral proteins with the Toll-like receptor 1/2 agonist XS15 emulsified in Montanide ISA51 VG, with the goal of inducing profound SARS-CoV-2 T-cell immunity to combat COVID-19.

Such advancements have resulted in an emerging trend in peptide synthesis market, thereby surged the demand for reagents and equipment used in the production of peptides.

The lack of a unified set of regulations has made obtaining approvals for therapeutic peptides toilsome, limiting their application areas. This is regarded as a major impediment to the growth of the global peptide synthesis market.

Considering all of the above-mentioned factors, the peptide synthesis market size is expected to be around US$ 720 Mn by 2026.

Key Takeaways

Peptide synthesis market future trends suggests that the market is anticipated to be dominated by the reagents segment.
The historical performance of the peptide synthesis market was modest with the valuation of US$ 514 in 2021.
The APAC peptide synthesis market is expected to continue to grow at the fastest rate, owing to increased investments by pharmaceutical as well as increased R&D activities in the region’s countries.
Based on end use, pharmaceutical and biotechnology companies are expected to hold a significant market share due to the increasing use of peptides for therapeutic drug development.
By technology, the segment of solid-phase peptide synthesis is expected to advance at faster pace due to ease of peptide purification.

“High prevalence of chronic diseases, and increased investments in the development of structure-based drug designs can all be attributed to North America’s large peptide synthesis market share as the rising number of cancer cases is expected to drive peptide synthesis market growth and as per the World Health Organization article, 18.1 million new cancer cases are reported worldwide each year. Add to that the demand for immunity-boosting drugs in the times of COVID-19 and the market potential seems conducive.” says an FMI analyst.

Competitive Landscape:

The global peptide synthesis market is dominated by the following companies:

CEM Corporation, Merck KGaA, PuroSynth, Syngene, Lonza, GenScript Biotech Corporation, Novo Nordisk A/S, Bachem Holding AG, ThermoFisher Scientific Inc., Gyros Protein Technologies, Creative Diagnostics, Biotage AB and AAPPTec among others.

Some peptide synthesis companies are expanding their market position through various strategies such as acquisitions, mergers, and research collaborations, whereas others are maintaining their market share by introducing new products.

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Blood Collection Devices Market 2022: Global Industry Analysis, Size, Share, Growth, Trends And Forecast To 2032

The blood collection devices market is poised to attain a CAGR of 6.3% during the forecast period 2022-2032, as per the blood collection devices market analysis by Future Market Insights (FMI).

The rising number of accidents and trauma cases, the emergence of liquid biopsy tests, and the demand for blood donations and blood components are some pivotal factors driving the demand for blood collection devices and propelling the market.

A major factor shaping the demand for blood collection devices is the rising prevalence of infectious diseases such as hepatitis B (HBV), hepatitis C (HCV), human immunodeficiency virus (HIV), malaria, syphilis, and brucellosis.

A greater emphasis and adherence to health checkups and awareness of disease conditions via blood collection/blood drawing device ensued from burden of various chronic diseases, prevalence of lifestyle diseases around the globe, especially in emerging countries.

As blood tests are the primary mode of diagnosing these diseases, this will flourish the blood collection devices market growth and act as a significant contributor to the adoption of blood collection devices.

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The global outbreak of COVID-19 is expected to have a positive impact on the blood collection devices adoption trends since blood testing involves the testing of various blood samples, which aids in the diagnosis of infectious diseases such as COVID-19.

Testing is still an important step in combating the COVID-19 pandemic. As the number of COVID-19 cases grows worldwide, governments around the world are looking into the possibility of allowing private laboratories to ramp up blood testing and in turn booming the market.

Taking into account all the aforesaid factors, the blood collection devices market is forecasted to reach US$ 8 Bn by 2026.

Key Takeaways:

Capital investments in automated blood collection using apheresis devices range between USD 45,000 and USD 55,000.
By end user, the segment of hospitals, ASCs and nursing homes held a major blood collection devices market share in the recent past.
North America has been at the forefront of the sales of blood collection devices owing to presence of key players in the region.
The anticipated blood collection devices market size is US$ 11 Bn by 2032.
By method, the segment of manual blood collection is expected to dominate the global market in the coming years.
By application, the diagnostics segment is anticipated to be at the forefront of the blood collection market.

Competitive Landscape:

A few of the major players are Smiths Medical (US), Dickinson and Company (US), Terumo BCT (US), Retractable Technologies (US), Fresenius Kabi AG (Germany), Becton, Grifols S.A.(Spain), Terumo BCT (US), Haematonics (US), Greiner Holding (Austria), Quest Diagnostics (US), Nipro Medical Corporation (Japan), SARSTEDT AG & Co. (Germany), Macopharma (France), and Cardinal Health (US).

To increase their share, major corporations are pursuing a variety of organic and inorganic strategies such as collaborations, new product development, acquisitions, and regional expansion.

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