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Global laboratory information system (LIS) market revenues are set to grow at 10.1% CAGR through 2030, according to an updated edition by Future Market Insights (FMI). The 2020-2030 version of the report builds upon the widely cited previous version, and incorporates the latest developments, notably, the impact of COVID-19 pandemic on this market.

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Over the years, the healthcare industry has witnessed massive technological advancements in the form of automation, big data analytics and cloud computing. The most important aspect in the industry is the need to reconcile administrative operations with caregiving operations. This has become possible through the introduction of advanced laboratory testing systems.

Laboratories are the foundational stone for primary healthcare administration. It is the laboratories which are the site for drug development and API formulations. To accelerate the effectiveness of these functions, there is a need to streamline mundane operations such as data collation, assimilation and record maintenance.

The need for systematic data documentation to reduce paperwork is primarily driving the laboratory information systems market. Significant adoption has been witnessed since the COVID-19 pandemic’s onset, enabling healthcare providers to concentrate on drug and vaccine development by smoothening data collection procedures.

Key Findings

• Europe & North America will remain lucrative, accounting for 4/5^th of the revenue pie
• Cloud-based laboratory information systems to register maximum increase during the forecast period
• Vendors are increasingly capitalizing on developing LIS software for various healthcare verticals
• Hospital-grade laboratory information systems are gaining significant momentum

COVID-19 Impact Analysis

Clinical laboratories are finding it unnerving to cope with the rapid influx of COVID-19 testing samples, impacting their ability to provide accurate testing. Incorporation of automated solutions is therefore anticipated to relieve these clinics of this uncertainty by promoting efficient testing of voluminous samples.

Prominent players in the laboratory information systems landscape are collaborating with public and private sector organizations to employ advanced technologies for implementing COVID-19 testing capabilities. For instance, LabWare Technologies has collaborated with the National Health Service to provide laboratory management software to healthcare settings across the United Kingdom.

Thus, the market shall witness a significant upsurge during the short-term forecast period, with an increasing number of healthcare providers accelerating the uptake of technologically advanced laboratory information systems.

“Manufacturers are increasing their presence across emerging markets and forging effective distribution networks with regional players. This is helping them expand their outreach and broaden their customer base,” opines the FMI analyst.

Competitive Intelligence

The global laboratory information systems market is highly fragmented, characterized by the presence of over 50 vendors. Prominent players include: Cerner Corp., Evident, McKesson, Medical Information Technology (MEDITECH), Epic Systems Corporation, SCC Soft Computer, Roper Technologies Inc., CompuGroup Medical and LabWare.

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With regard to product launches, Cerner Corporation launched CommunityWorks Foundations, a tailor-made cloud-based technology platform for rural and critical access hospitals in July 2020. This technology shall prove instrumental in reducing overhead costs and reducing lengthy implementation procedures. The platform enables hospitals to maintain electronic health records, reducing immense amount of paperwork.

Recently, in August 2020, Medical Information Technology (MEDITECH) partnered with TECHNATION Health in Canada. This collaboration is aimed at enhancing the privacy and security framework of healthcare providers across the nation, ensuring better patient data security. The solution involves provision of cybersecurity and data sovereignty among other objectives.

As per Future Market Insights (FMI) – an ESOMAR-certified market research firm, global orthopaedic prosthetics market will be worth US$ 3.22 Bn by 2030.

Orthopaedic prosthetics have been witnessing personalized breakthrough innovations since the last few years. The market is witnessing customized prosthetics that enable modifications on the basis of functionality and anatomy of the respective patient.

According to FMI, tailored orthopaedic prosthetics, an outcome of 3D imaging software, is available in various lengths and sizes. This innovation is likely to drive the orthopaedic prosthetics market during the forecast period.

The market is expected to witness a paradigm shift. Emphasis is being laid on consumer-friendly products, so as to simplify the lives of amputees”, says an FMI analyst.

Reconstructing or amputating of lower limb proves to be challenging for both – practitioners as well as patients as it largely depends on the affected limb’s viability and characteristics.

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However, advances with respect to orthopaedic prostheses have paved the way for loads of options to be considered while choosing between limb amputation and reconstruction.

As such, the well-fitting prostheses avert the rest of the soft tissue’s breakdown by redistribution of compressive force at the time of weight bearing, thereby minimizing force on skin. This convenience holds the flag for lower extremity orthopaedic prosthetics high in the forecast period.

As far as technology is concerned, digitally empowered devices are the future of orthopaedic prosthetics market. Along with anticipating patients’ actions (through the use of AI), these devices enable remote monitoring.

Digitally powered orthopaedic prosthetics are all set to revolutionize the market at present and also in the forecast period.

Also, as mentioned above, personalization of products gets a simplified approach with digitization, as traceability becomes easy. Also, 3D imaging helps the patient visualize the placement of limbs well in advance, thereby voicing his/her choice with regards to implants.

Though North America and Europe account for leading revenue share, opportunities in Asia Pacific are growing. The countries like India, China, Thailand, Saudi Arabia are on the verge of increasing the contribution of their GDP towards healthcare.

As Asia Pacific is home to majority of those suffering from diabetic ailments, the orthopaedic prosthetics market set to catch up herein. On the other hand, the consistency shown by North America and Europe could be attributed to increasing incidences of peripheral vascular diseases concerned with limbs coupled with injuries related to sports.

Want More Insights?

Orthopaedic Prosthetics Market, a new study from Future Market Insights, opines on the evolution of the orthopaedic prosthetics market from 2014 – 2018 and presents demand projections from 2020 – 2030 on the basis of; product (upper extremity prosthetics, lower extremity prosthetics, sockets, liners and modular components), technology (conventional, hybrid orthopaedic prosthetics and electric powered orthopaedic prosthetics) and end user (prosthetic clinics, hospitals, rehabilitation centre and others) across seven prominent regions.

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Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint.

About Future Market Insights (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, and has delivery centers in the UK, 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.

Effectiveness of negative pressure wound therapy (NPWT) in treating acute and chronic wounds is a key factor driving its adoption across hospitals, clinics, and homecare settings. The use of NPWT devices in managing closed incisions, where the risk of wound breakdown is higher, is also fuelling the growth of the negative pressure wound therapy market, especially in North America and Western Europe.

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Development of safe and highly-effective negative pressure wound therapy devices has helped address concerns related to potential risks, leading to greater adoption across end-use sectors. Decline in the number of adverse reaction and product recalls has led to increased confidence on the safe use of NWPT.

FMI-a well-established name in the market research domain – forecasts that, the NPWT market will experience a major upturn post 2025, reaching a valuation of US$ 3.2 Bn by 2029.

Key Takeaways of NPWT Market Study

• Single-use disposable negative pressure wound therapy devices, under product, are expected to exhibit a CAGR of 8% during the forecast period.
• The U.S. is anticipated to dominate the global negative pressure wound therapy market and account for over 86% share of the North America NPWT market.
• Hospitals and home care settings segments are expected to dominate the negative pressure wound therapy market during the forecast period, owing to significant adoption of NPWT systems.
• Companies are focusing on collaborating with established research centres and other manufacturers to develop products complaint with regulations across the globe that can help in the treatment of chronic disorders.

“Increasing awareness among practitioners and patients about the better response rate of disposable negative pressure wound therapy devices is expected to increase revenue of the NPWT market over the coming years.”

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Manufacturer of NPWT Devices Focusing on Launch of Portable and Disposable Devices

Over the last few years, leading manufacturer have been focusing on introducing portable and disposable NPWT devices, targeting a range of consumers, including hospitals, homecare settings, etc. Presently, a majority of NPWT devices are used in the U.S. and Europe. However, the demand for portable and disposable NPWT devices is gaining traction in APAC, Eastern Europe, and Latin America. There has been growing interest in using portable and disposable NPWT devices on closed incisions after a surgical procedure in order to inhibit potential surgical site infections (SSIs) and other wound complications in high-risk patients.

Examples of some disposable NPWT devices from top players include the V.A.C.Via Therapy System, Prevena Incision Management System (Acelity), PICO (Smith and Nephew PLC.), AVELLE Negative Pressure Wound Therapy System (ConvaTec Inc.)

Want more insights?

A new study from Future Market Insights provides detailed information on the evolution of the negative pressure wound therapy market from 2014-2018, and presents demand projections for 2019-2029, on the basis of product (standalone NPWT devices, single-use disposable NPWT devices, portable NPWT devices, and NPWT accessories), and end user (hospitals, clinics, and home care settings), across seven prominent regions.

About Future Market Insights (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, and has delivery centers in the UK, 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.

The rapidly increasing prevalence of chronic diseases around the world is expected to fuel the need for novel drugs and better treatment option would further drive the growth of the global market. Due to increasing demand for novel drugs option, there has been rising applications of drug intermediates and growing adoption and in the field of research and clinical studies.

Leading players in the biotechnology and pharmaceutical sectors along with research institutes are now increasingly focusing on R&D activities relating to drug creation and development. Future Market Insights (FMI) in a new study has forecast the global pharmaceutical intermediates to reach US$ 30 Bn in 2020, with the market predicted to exhibit a CAGR of 4% during the forecast period (2020-2030)

Pharmaceutical intermediates are used in during manufacturing of bulk drugs as raw materials. These are the material produced during the synthesis of an active pharmaceutical ingredient (API). However, pharmaceutical and biotech companies can make use of these drug intermediates for the purposes of research and development (R&D). Moreover, there are different forms of pharmaceutical intermediates available such as high quality pharmaceutical intermediates, moderate quality pharmaceutical intermediates and premium quality intermediates. The high-quality and premium pharmaceutical intermediates are mainly used for R&D activities.

COVID-19 pandemic is negatively impacting pharmaceutical intermediates sales due to supply chain disruptions caused due to extended period of lockdown. Nonetheless growth is expected to recover because an increasing number of pharma companies are engaging in research and development to find effective treatment and vaccination for COVID-19 virus.

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Key Takeaways from Pharmaceutical Intermediates Marker Study

• The demand for chiral intermediates will continue rising through the forecast period
• East Asia will dominate in the global pharmaceutical intermediates market. China is expected to emerge as the most lucrative market for pharmaceutical intermediates in the region.
• Analgesics to remain primary application, expanding at Y-o-Y rate exceeding 6% through 2020
• The demand for Generic Drug Intermediates is expected to be higher than Branded Drug Intermediates
• Biotech and Pharma Companies will continue exhibiting high demand for pharmaceutical intermediates

“Rising drug development activities worldwide as well as increasing adaption of pharmaceutical intermediates as raw material are driving the growth of global Pharmaceutical Intermediates market” says the FMI Analyst

Acquisitions, Partnerships and expansion are key Strategic Focus of Pharmaceutical Intermediates Market Players

Leading players in the Pharmaceutical Intermediates market on strengthening their market position though the Acquisition, Partnerships and expansion. For Instance,

• On April 2018, strategic collaboration between Porton Pharma Solutions, Ltd. And Codexis, Inc. to use Codexis’ biocatalyst technology within Porton’s global custom active pharmaceutical ingredients (API) and intermediate for manufacturing business.
• On June 2017, BASF SE is expanding its production capacity at Texas site, whereas it is also constructing new Ibuprofen API facility in Ludwigshafen, Germany, which is expected to be functional in 2021.

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Key Participant Insights

The global market is set to expand its scope in the forecast period, due to rising prevalence of chronic disease globally and adoption of Pharmaceutical Intermediates at various stages of drug development by pharmaceutical manufacturers. In addition to this, cost effectiveness and rise in alternate methods for purification of oligonucleotide has augmented the sales of Pharmaceutical Intermediates.

The key market players covered by FMI include

Chiracon GmbH, Aceto Corporation, Midas Pharma GmbH, Codexis, Lianhe Chemical Technology Co., Ltd, Sanofi S.A, Dishman Group And BASF SE, And Chemcon Speciality Chemicals Pvt. Ltd consolidating their positions through mergers, acquisitions and new product launches.

Pharmaceutical Intermediates Market – Key Segments

Product

• Chemical Intermediates
• Bulk Drug Intermediates
  • Chiral Intermediates
  • Achiral Intermediates
• Custom Intermediates

Category

• Branded Drug Intermediates
• Generic Drug Intermediates

Application

• Analgesics
• Anti-inflammatory Drug
• Cardiovascular Drugs
• Anti-diabetic Drugs
• Antimicrobial Drugs
• Anti-cancer Drugs
• Others

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End User

• Biotech and Pharma Companies
• Research Laboratory
• CMOs/CROs

Region

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

Empty capsules are witnessing an adoption upsurge, owing to numerous factors such as limited number of competitors, growing demand from the pharmaceutical sector, standard margin level, and potential opportunities in vegan gelatin-based capsules. Further, faster uptake by the FDA and focus of market players on ramping up production capacity are key factors shaping the growth of the empty capsules market.

Empty capsule manufacturers are progressively targeting specialty markets such as contract manufacturers, generic manufacturers, and pediatric drug manufactures. Increasing penetration of low-cost manufacturers in various countries, and supply contracts of life-saving essential drugs, primarily in developing and emerging countries, are further driving the empty capsules market.

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The global empty capsules market is estimated to be valued at US$ 1.9 Bn in 2020, with the market expected to exhibit a CAGR of 8% during the forecast period (2020-2030). The coronavirus (COVID-19) pandemic that has so far claimed the lives of over 200,000 people and infected over 3 million, has forced several countries to declare nationwide lockdowns. This has disturbed supply chains in the empty capsules market, due to logistics paralysis. As such, the market is expected to witness a gradual decline in in 2020.

“Lower labour cost and abundant availability of raw materials are among the key factors driving the empty capsules market in Asia Pacific excluding Japan (APEJ) and Western Europe. In addition, favorable regulatory ecosystem to establish empty capsule manufacturing businesses and lower taxation policies are propelling market growth in APAC.”

Key Takeaways of Empty Capsules Market Study

• Greater focus on relieving pressure of supply chain due to demand gap is being tackled by ramping up production capacity; up-scaling is the fundamental strategy outlined for meeting demand in the empty capsules market.
• Vegetable capsules are the latest innovation and are expected to replace gelatin-based variants. Recently, hard gelatin manufacturers have begun increasing the production of vegetarian capsules at scale.
• South and East Asian pharmaceutical markets are expected to grow at twice the global average in terms of value, owing to population growth, rising incomes, and improved access to healthcare.
• The empty capsules market in China is anticipated to exhibit the fastest growth, where per capita spending is anticipated to increase by over 70% in the coming five years.
• High upfront costs and lower margin levels in empty capsules have resulted in 10%-20% price hike in finished products, registering lower sales for animal-based gelatin products in the recent past.
• India, with almost 40% growth, is offering value-capture opportunities, owing to good patient recruitment, acceptable quality of services, reasonable cost-quality ratio, existence of regulatory agencies, high standards of care, larger population base, and low cost of labour.
• Companies manufacturing halal capsules are obtaining halal certification from the Islamic Food and Nutrition Council of America (IFANCA) to capture market shares in Muslim-dominated countries.
• The empty capsules market is consolidated, with leading manufacturers holding around 70% revenue share. Further, growing prominence of CMOs and large-scale gelatin manufacturers is anticipated to boost the growth engine.
• Higher volume handling by key players in comparison with local manufacturers, and higher production capabilities and price advantages over non-standard manufacturers, are expected to generate significant revenue pockets.

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Key Players Focus on Capacity Expansion, Strategic Acquisitions, and Joint Ventures to Widen Regional Presence

Leading players in the empty capsules market, such ACG Worldwide, Capsugel, Qualicaps, Inc., Bright Pharma Caps, Inc., and Roxlor LLC, are concentrating on business expansion through mergers, joint ventures, distribution agreements, and capturing untapped market potential.

• For example, in 2015, Capsugel increased the production of vegetarian-based capsules by investing US$ 25 Mn across its manufacturing sites.
• Empty capsule manufacturers are generating high returns from nutraceutical and pharmaceutical industries by supplying non-animal or vegetarian empty capsules, with effective physical properties such as reduced moisture content, best suited for nutrient supplements and hygroscopic drugs.
• In similar context, empty capsule manufacturers are boosting substantial sales revenue from nutraceutical manufacturers by supplying vegetarian-based empty capsules coupled with fluid filling technology.
• Top manufacturers of hard gelatin capsules are expanding their production facilities through acquisitions.
• For instance, Qualicaps completed the acquisition of Genix Industria Farmaceutica Ltd., one of Brazil’s top hard empty capsule manufacturers. The acquisition permits the manufacturer to establish its operating sites in the U.S., Canada, Spain, Japan, and Romania.
  • CapsCanada Corporation also acquired the assets of two additional gelatin manufacturing facilities, and this significant acquisition further merged with the manufacturer’s vertically-integrated production plants, with a total of four (bovine) other gelatin manufacturing facilities.