Market Research Blog – Page 9388 – New Product Development

Nasal Spray Market Segment Overview, Regional Analysis and Forecast 2022-2032

The Global Nasal Spray Market is likely to exhibit a CAGR of 6.5% while procuring US$ 6 Billion during the forecast period. Changing lifestyles across the globe, enhanced patient compliance, expanding geriatric population, and increasing pollution levels are expected to augment the market size in the forecast period. Increased demand for self-administration will offer remunerative opportunities for the global nasal spray market to expand through the assessment period. Also, various advantages provided by nasal sprays like painless drug delivery, better patient convenience, and easy availability are other vital factors promoting the market during the forecast period.

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Also, growing equipment approvals by regulatory bodies are expected to benefit the market in the forecast period. For instance, in March 2019, FDA approved Spravato nasal spray for curing adult patients with treatment-resistant depression. In 2018, FDA revealed that about 7.4 million adults suffer from treatment-resistant depression in the U.S which widens the scope of suicidal tendencies and hospitalizations. The nasal spray offers drugs in an easy way since it comprises active ingredients and medications which are dissolved in solutions.

Players in the market are taking various initiatives to develop the market in the forecast period. Increasing investment in R&D to offer innovative products in the market is likely to prepare a conducive environment for market growth during the forecast period. For instance, in February 2022, Glenmark Pharmaceuticals Ltd., a renowned pharmaceutical company, and Canadian pharmaceutical company SaNOtize Research & Development Corp announced the launch of its Nitric Oxide Nasal Spray under the brand name FabiSpray ® in India. The product aims to kill the COVID-19 virus in the upper airways. Such initiatives are expected to augment the market size in the assessment period.

However, nasal may spray result in itchiness, redness, and swelling in the nose, leading to reduced consumption, thus, hindering the market expansion. Further, the regulatory obstructions owing to strict laws for the sales of drugs in countries such as Russia and Mexico are likely to be another potential factor controlling the market growth. For instance, the regulatory authority of Mexico, COFEPRIS, set forth new guidelines for permitting registrations of generic drugs, which is not inclusive of patents of new therapeutic uses in its linkage system

Key Takeaways from the Market Study:

The global nasal spray market is expected to secure a market value worth US$ 3.2 Billion in 2022.
The nasal spray market in Europe is expected to display a CAGR of 5.8% during the forecast period.
In 2021, the retail segment is expected to have captured about 54% of the global nasal spray market.
The nasal spray market in North America is expected to display a CAGR of 6% during the forecast period.

Manufacturers are focusing on introducing nasal sprays capable of administering drug formulations with high efficacy and potency. Hence, the introduction of robust product lines has become a reality, leading to a host of new product launches and innovations, remarks an analyst at FMI.

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Competition Analysis:

Key players in the global nasal spray market include Astra Zeneca Plc., Cipla Ltd., Johnson & Johnson Services, Inc. (Johnson & Johnson Pacific Pty Limited), Glaxosmithkline Plc., Novartis International AG, Procter & Gamble, Sanofi S.A. (Sanofi-aventis LLC.), Boehringer Ingelheim GmbH, AdvaCare Pharma, Bayer AG (Bayer Consumer Health, Covis Pharma S.a.r.l., Nipro Corporation (NIPRO JMI Pharma Ltd.), Viatris Inc. (Meda Pharmaceuticals Inc.), Perrigo Company plc, AptarGroup, Inc., Berry Global, Inc., URSATEC GmbH, Gerresheimer AG, Bona, Avantor, VWR International, LLC, Spectrum Laboratory Products, Inc. (Spectrum Pharmacy Products), SKS Bottle & Packaging, Inc., and Coster Tecnologie Speciali S.p.A.

Recent Updates from the Industry:

In October 2021, Cipla’s consumer health arm announced an anti-viral nasal spray called Naselin, which contains ‘povidone Iodine’ to protect against coronavirus and respiratory tract infections.
In August 2021, CDMO Bora Pharmaceuticals Laboratories Inc. announced its partnership with Kyowa Pharmaceuticals Industry Co. Ltd. The initiative aims to manufacture generic products, including nasal sprays, in Japan.

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More Valuable Insights:

Future Market Insights, in its new offering, presents an unbiased analysis of the global nasal spray market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of by Product (Decongestant Sprays, Nasal Steroid Sprays, Nasal Antihistamine Sprays, Nasal Cromolyn Sodium Sprays, Nasal Anticholinergic Sprays, Nasal Triamcinolone Sprays) by Formulation (Aqueous, Hydroalcoholic, Nonaqueous-Based Solution, Suspension, Emulsions, Dry Powder/Micro particles), by Packaging (Pressurized Canisters, Pump Bottles), by Distribution Channel (Institutional Sales, Retail Sales), & Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).

Key Players:

Astra Zeneca Plc.
Cipla Ltd.
Johnson & Johnson Services, Inc. (Johnson & Johnson Pacific Pty Limited)
Glaxosmithkline Plc.
Novartis International AG
Procter & Gamble
Sanofi S.A. (Sanofi-aventis LLC.)
Boehringer Ingelheim GmbH
AdvaCare Pharma
Bayer AG (Bayer Consumer Health
Covis Pharma S.a.r.l.
Nipro Corporation (NIPRO JMI Pharma Ltd.)
Viatris Inc. (Meda Pharmaceuticals Inc.)
Perrigo Company plc

Key Segments Profiled in The Nasal Spray Market Report

Product:

Decongestant Sprays
Nasal Steroid Sprays
Nasal Antihistamine Sprays
Nasal Cromolyn Sodium Sprays
Nasal Anticholinergic Sprays
Nasal Triamcinolone Sprays

Formulation:

Aqueous
Hydroalcoholic
Nonaqueous-Based Solution
Suspension
Emulsions
Dry Powder/Micro particles

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Packaging:

Pressurized Canisters
Pump Bottles

Distribution Channel:

Institutional Sales
Hospitals
Community Clinics
Specialty Clinics
Public Health Agencies
Veterinary Hospitals & Clinics
Retail Sales
Retail Pharmacies
Drug Stores
Mail Order Pharmacy

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

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Molecular Imaging Market Comprehensive Assessment, Insights, Facts, historical data and Statistics 2022-2032

The Global Molecular Imaging Market is anticipated to value at US$ 7.3 Billion while expanding at a CAGR of 5.41% during the forecast period of 2022-2032. The growth of the market can be attributed to the increasing incidences of chronic illness across the globe.

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Increasing demand for early detection and cost-effective diagnosis of chronic diseases along with the rising geriatric population across the globe are likely to fuel demand for the molecular imaging system. The advent of modern devices and developing healthcare infrastructure in evolving economies are some of the salient factors escalating market growth.

The increasing prevalence of chronic diseases like cancer and other genetic illness are expected to propel the demand for an efficient and early disease diagnosis, which is projected to benefit the global molecular imaging market during the forecast period. Increasing adoption of molecular imaging for new applications, ongoing development and innovation in molecular imaging technologies, and developing economies are likely to provide significant opportunities for growth in the market in the coming time.

The launch of AI-based devices is projected to augment the market size in the coming time. For instance, in May 2020, Fujifilm Corporation launched AI-based technology for lung nodule detection. This technology is used to detect pulmonary nodules in chest CT scans to aid in lung cancer detection. In another instance, in November 2020, Canon Medical Systems Corporation launched One-Beat Spectral Cardiac CT, with rapid kVp switching and deep learning spectral reconstruction to acquire whole-heart spectral images in one beat. Thus, the launch of advanced products is anticipated to benefit the industry during the forecast period.

The increasing application of AI-based diagnostic equipment for the rapid detection of illnesses is anticipated to act as a significant opportunity for the global molecular imaging market during the forecast period. Players in the market are introducing AI-based equipment which will help the market in fetching significant dividends. In 2019, Siemens Healthineers introduced an ultrasound system, Acuson Redwood, which provides an imaging solution for clinical departments including cardiology, radiology, and gynecology.

However, high expenses associated with advanced molecular imaging system is projected to hamper the market growth during the forecast period. The presence of unfavorable reimbursements and lack of expertise in developing countries can hinder the market growth.

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Key Takeaways from the Market Study:

The global molecular imaging market is expected to secure US$ 4.309 Billion in 2022.
In Europe, the molecular imaging market is expected to display a CAGR of 4% during the forecast period.
In 2021, the hospital segment is projected to have secured 46.5% of the global revenue.
In APAC, the molecular imaging market is expected to display a CAGR of 6% during the forecast period.
In 2021, the molecular imaging market in North America is expected to have claimed 33% of the global revenue.

“Deployment of modern technologies in the healthcare sector and growing demand for early detection of chronic illness are likely to propel the demand for efficient molecular imaging equipment which will benefit the market during the forecast period,” says an FMI analyst.

Competition Analysis

Key players in the global molecular imaging market include Hermes Medical Solutions, Bruker Corporation, GE Company, Fujifilm Holdings Corp., Siemens AG, Koninklijke Philips N.V., and Toshiba Medical System Corp.

Recent Developments in the Market:

In September 2021, Hermes Medical Solutions and Isotopia Molecular Imaging announced a new collaboration with Isotopia to raise awareness and co-promote the benefits of dosimetry, personalized medicine, and radiopharmaceutical therapy.
In February 2021, Royal Philips announced the acquisition of BioTelemetry, a US-based player that provides remote cardiac diagnostics and monitoring. The acquisition of BioTelemetry is a strong fit with Philips’ cardiac care portfolio, and its strategy to transform the delivery of care along the health continuum with integrated solutions.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global molecular imaging market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Modality (Positron Emission Tomography (PET), Positron Emission Tomography- Computed Tomography (PET-CT), Positron Emission Tomography- Magnetic Resonance (PET-MR), Single Photon Emission Computed Tomography (SPECT), Software, Magnetic Resonance, Molecular Ultrasound Imaging), by Application (Cardiology, Oncology, Gastrointestinal Disorders, Neurology Disorders, Others), by End User (Hospitals, Ambulatory Surgical Centres, Diagnostic Centres), & Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).

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Wearable Medical Devices Market Size is set to Grow at a Remarkable Pace in the Coming Years

The Global Wearable Medical Devices Market is expected to reach a market valuation of US$ 27.29 Billion by 2022, accelerating with a moderate CAGR of 28.1% by 2022-2032. The Wearable Medical Devices Market is anticipated to be valued at about US$ 324.65 Billion by 2032.

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A patient’s most likely diagnosis and treatments can be identified using 5G and AI. AI can also help healthcare providers predict which patients are anticipated to have complications after surgery to perform preventative actions. Learning in real-time with large amounts of data typically necessitates networks with high availability and high throughput.

With the advent of 5G networks, healthcare providers can use AI applications to provide immediate, high-quality care to patients worldwide. Therefore, cutting-edge advancements such as artificial intelligence and fifth-generation wireless networks are expected to impact wearable medical devices significantly.

The wearable medical devices market is expanding. Individuals that typically purchase such items are those who are open to new experiences and ideas. The increasing number of early adopters and innovators in both developed and developing nations is anticipated to boost sales of wearable medical devices. The increasing demand for novel health monitoring techniques among athletes and fitness buffs is anticipated to propel the worldwide wearable medical devices market. An appreciable fraction of persons in the US and Canada are early adopters. So, the demand for wearable medical devices in North America is anticipated to expand at a higher rate.

Therapeutics, monitoring and diagnostics, foetal and obstetric monitoring, cardiovascular monitoring, and glucose monitoring are just a few of the many uses for wearable medical devices. In this category, therapeutic medical gadgets patients can wear are expected to dominate.

The FMI analysis predicts that by 2025, the market share of therapeutic medical devices that can be worn would exceed 50%. Among the many lifestyle-related conditions, lung problems, diabetes, and hearing loss contribute to this. During the evaluation phase, we don’t expect this tendency to reverse.

Improvements in both design and technology have boosted sales of wearable medical devices in recent years. However, adoption rates in the business continue to be challenged by several variables. The initial investment and ongoing upkeep of wearable technology might be costly for many people. Among other components, failure in sensors, batteries, and chips often necessitates frequent maintenance and repair, which slows consumer acceptance.

Additionally, several nations do not supply enough medical wearable reimbursement options for their citizens. Because of this, sales of wearable medical devices are expected to stagnate in developed and developing nations.

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Key Takeaways

The wearable medical devices market is anticipated to reach a valuation of US$ 324.65 Billion by 2032.
North America contributed for 38.1% of global revenue in 2020 because to rising rates of cardiovascular disease, diabetes, and cancer.
Market growth is anticipated as a result of the increased use of wearable devices for health management during COVID-19.
Rising prevalence of target diseases due to an ageing population and the need to minimise healthcare spending are driving the wearable medical device market.

Competitive Landscape

Although the wearable medical devices market is somewhat concentrated, a handful of industry giants control most sales. These businesses invest heavily in research and development of new items, followed by careful timing in releasing such products to the market.

Companies that now dominate the wearable medical devices market are focusing on diversifying their growth strategies, such as forging strategic partnerships, merging with other businesses, and expanding their product lines.

Recent Developments

In April 2021, Alvalux Medical, a Belgian MedTech wearables manufacturer, announced that it had been granted a second patent by the United States Patent and Trademark Office for its new ocular insert device, which is intended to allow patients to treat retinal disorders at home through photo-biomodulation (PBM) therapy.
As an additional comfort measure, 3M has announced the creation of a novel silicone adhesive material with conformable and breathable properties that is expected to be used in wearable medical devices with the goal of reducing the amount of skin that must be removed.
In March of 2021, EOFlow, a provider of wearable drug delivery solutions, announced the release of a new smartphone application designed to be used in tandem with wearable insulin delivery devices.

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Wearable Medical Devices Market By Segmentation

By Product:

Wearable Monitoring and Diagnostic Devices
Fetal and Obstetric Devices
- Wearable Fetal Monitors
- Infant Motion Sensing Monitors
Continuous Glucose Monitoring Devices
Cardiac Monitoring Devices
- Wearable Heart Rate Monitors
- Wearable Pulse Oximeters
- Wearable Blood Pressure Monitors
Wearable Therapeutic Medical Device
Hearing Aid
Insulin Pump
Respiratory Therapy Devices
- Sleep Apnea Devices
- Non-invasive Ventilation
Health and Fitness Devices

By Application:

Patient Monitoring
Home Healthcare
Health and Fitness

By Distribution Channel:

Hospital Pharmacies
Clinics
Online Channels
Hypermarkets

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Wound Debridement Products Market Growth – In-Depth Study and Huge Demand in Future 2022-2032

The Global Wound Debridement Products Market is expected to be valued at US$ 497.3 Billion in 2022. With the rise in incidence of hard and heal wounds, coupled with the increasing number of collaborations and partnerships and new products launches, the overall demand for wound debridement products is projected to grow at a CAGR of 5.6% between 2022 and 2032, totaling around US$ 857.55 Billion by 2032.

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Factors such as product innovation, rise in incidence of diabetes cases, increasing healthcare spending and growing aging population globally are the major factors that are anticipated to drive the growth of the wound debridement products. Increasing incidence of hard and heal wounds, growing aging population, rise in prevalence of chronic diseases, increasing adoption of debridement products and techniques and rise in patient population are some other factors that are fueling the market for wound debridement products.

The rising incidence of ulcers is anticipated to further boost the market growth. As per the statistics by the American Diabetes Association, in 2014, about 2.0% of the population was affected with diabetic ulcers in the U.S. Similarly, about 600,000 people are affected by a venous ulcer in the U.S. every year. Therefore, awareness programs for wound care treatment are necessary. In addition, the presence of better healthcare facilities, the adoption of advanced wound care products, developing healthcare infrastructure, and reimbursement policies are driving the market.

Key Takeaways from the Market Study

From 2017 to 2021, wound debridement products demand expanded at a CAGR of 2.3%
By product type, the low frequency ultrasound devices constitutes bulk of wound debridement products market worth, with a share of 50%
By end user, hospitals to account for a major chunk of market revenue, accruing about 55.6% in 2022
North America to be the kingpin of wound debridement products market, accumulating 32% revenue in 2022
Europe to trail behind North America, accumulating a revenue share worth 23%
Asia Pacific to provide credible growth opportunities, expected to yield 20.3% revenue in 2022

“The major factor that boosts the growth of the wound debridement market include increase in incidence of chronic wounds such as pressure ulcers, diabetic foot ulcers, infectious wounds, radiation wounds, arterial ulcers, and acute wound, including burn and trauma,” remarks an FMI analyst.

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Competitive Landscape

Players in the global Wound Debridement Products Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

In January 2021, Healogics launched Healogics 2021. This Healing program is aimed at helping patients and healthcare providers with resources to improve health, heal wounds, and avoid needless amputations.
In April 2019, RLS Global AB (Sweden) announced that ChloraSolv, its wound care product targeting diabetic foot ulcers, had successfully obtained a CE marking based on confirmation from Lloyd’s Register, acting as Notified Body, and is therefore cleared in 32 European countries for commercialization.
In July 2017, Smith & Nephew (UK), the global medical technology business, announced to build a new R&D and manufacturing facility for its Advanced Wound Management franchise on the outskirts of Hull, UK.

Know more about what the Wound Debridement Products Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Wound Debridement Products Market, providing historical data for 2017-2021 and forecast statistics from 2022-2032.

To understand opportunities in the Wound Debridement Products Market, the market is segmented on the basis of product type, application, and end-users across five major regions.

Key Segments Covered in the Wound Debridement Products Industry Analysis

Wound Debridement Products Market by Product Type:

Hydrosurgical Debridement Devices
Low Frequency Ultrasound Devices
Surgical Wound Debridement Devices
Mechanical Debridement Pads
Traditional Wound Debridement Devices
Larval Therapy

Wound Debridement Products Market by Application:

Chronic Ulcers
Surgical Wounds
Traumatic Wounds
Burn Cases

Wound Debridement Products Market by End Users:

Hospitals
Ambulatory Surgical Centres
Specialized Clinics
Nursing Facilities
Others

Wound Debridement Products Market by Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Neurology Services Industry Analysis and Opportunity Assessment 2022-2032

As per Future Market Insights’ latest industry analysis, valuation of the Global Neurology Services Market was around US$ 2,446.2 Bn in 2021 and it is projected to exhibit a CAGR of about 5.4% over the forecast period. It is set to reach an estimated valuation of US$ 4,317.8 Bn in 2032.

The global market is showcasing an upward curve due to the rising prevalence of various mental health issues, as well as surging awareness about the importance of mental health. In addition, certain policies framed by the governments of the U.S. and Europe that support neurosurgery patients would aid the market. These policies, such as reimbursements, help patients to undergo treatment without having to pay extra costs.

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For instance, Medicare provides the initial comprehensive neurosurgical consultation free of charge. Besides, if a neurosurgical operation becomes appropriate for patient care, Medicare covers the costs of hospitalization. The Centers for Medicare and Medicaid Services (CMS) has also created a new Diagnosis Related Group (DRG 528) for endovascular and neurovascular diagnosis and procedures.

There are specific codes provided for the reimbursement of supervision and interpretation, as well as for follow-up angiography visits under 36221-36228. Other CPT codes for various neurological services are 95812, 95813, 95819, 97110, 90867, and 90868. Thus, the availability of favorable reimbursements in developed regions will increase the number of neurosurgical procedures, and consequently boost growth in the neurology services market.

On the contrary, skilled specialists such as physiatrists, neurologists, physical & occupational therapists, speech & language pathologists, psychologists, social workers, and recreational therapists are required for the treatment of neurological ailments. Non-availability or limited availability of such well-trained specialists can create an adverse impact on the treatment of patients with depression and lower growth of organizations that are involved in treatment.

According to a report by the American Association of Neurological Surgeons, in 2020, neurosurgical workforce in the U.S. faced shortage of medical devices and inadequacy to meet health care needs. As per the report, there are less than 3,700 neurosurgeons in over 5,700 hospitals in the U.S. Hence, the absence of trained neurosurgeons can potentially hamper the number of embolization surgeries taking place, which may act as a restraint to the expansion of the market.

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Key Takeaways from Market Study

By service, the therapeutic service segment held approximately 48.7% of market share in 2021.
Based on indication, the mental health segment generated a market share of around 27.4% in 2021.
By service provider, hospitals are leading the global neurology services market and held a share of 51.6% in 2021.
East Asia is considered to be the most lucrative region in the market and it exhibited a CAGR of 6.6% in 2021.
Germany is set to exhibit a CAGR of nearly 4.6% in the Europe neurology services market during the forecast period.

“Rising number of awareness campaigns to educate people about the availability of treatment options for neurological conditions, as well as rapid shift towards advanced and refined treatment protocols would aid growth. Besides, ongoing improvements in healthcare infrastructure in various parts of the globe are set to propel demand for neurology services,” says an analyst of Future Market Insights.

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the neurology services market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032. The global neurology services market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on the service – (diagnostic service, monitoring service, therapeutics service, and surgical service), by indication (attention-deficit/hyperactivity disorder (ADHD), mental health, stroke, concussion, dementia, multiple sclerosis, psychotic disorder, and other neurological diseases), and by the service provider (neurofeedback clinics, neurology clinics, hospitals, neurorehabilitation centers), across seven key regions of the world.

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Medical Device Analytical Testing Outsourcing Market to Etch New Growth Ratio with Adoption in Developing Economy

As per newly released data by Future Market Insights (FMI), The Global Medical Device Analytical Testing Outsourcing Market generated US$ 5.11 billion in 2021 and is predicted to grow at a credible CAGR of 7.18% to reach US$ 10.96 billion in 2032.

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The key factors driving the market are product complexity, increased competition, an increase in the number of small-scale medical device manufacturers, and strict approval norms. The COVID-19 pandemic has highlighted the importance of developing innovative low-cost medical equipment. This crisis has caused a worldwide economic and health pandemic. As a result, several businesses have closed their factories and halted the majority of the manufacturing process.

The growing global prevalence of chronic diseases is driving up demand for medical device analytical testing outsourcing. The government’s increasingly stringent quality certificate rules are propelling the global medical device analytical testing outsourcing market forward. Class II devices require premarket approvals and 510 (k) clearance; however, obtaining such clearance is a time-consuming process; thus, such emerging scenarios have fuelled the growth of the global medical device analytical testing outsourcing market. Medical device manufacturers are hiring consultants to help them understand the documentation and regulations required for pre-market approvals.

The development of advanced devices such as surgical microscopes, surgical robots, neurosurgery devices, ophthalmic surgical devices, and many others has reduced the direct contact of humans in the surgical procedure, making quality certificates for medical devices mandatory. The growing demand for minimally invasive surgeries is driving the global medical device analytical testing outsourcing market forward. However, manufacturers are turning to medical device analytical testing outsourcing to ensure accuracy, precision, quality control, and periodic maintenance.

Key Takeaways

The global Medical Device Analytical Testing Outsourcing market is estimated at US$ 10.96 Billion during the forecast period.
The global Medical Device Analytical Testing Outsourcing market is estimated at US$ 5.11 Billion in 2021.
The U.S is projected to lead the market while procuring US$ 1.5 Billion while expanding at a CAGR of 7% during the forecast period.
China is anticipated to grow at 5.5% CAGR
The hospitals segment is predicted to lead the market with a CAGR of 6.15% during the assessment period.

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“Because of improved healthcare infrastructure and government initiatives, Asia Pacific has the largest share of the global medical device analytical testing outsourcing market. Furthermore, rapid economic development in countries such as China and India are expected to significantly boost regional market growth over the forecast period.” Says an analyst at FMI.

Competitive Landscape

The global medical device analytical testing outsourcing market is highly fragmented. Mergers, acquisitions, and partnerships, among other strategies, were used by industry participants to maintain market share. The key market players are:

SGS
Toxikon, Inc
Eurofins Scientific
Pace Analytical Services LLC
Intertek Group plc
Wuxi AppTec
North American Science Associates, Inc.
Envigo
Charles River Laboratories International, Inc.
Medical Device Testing Services

Some of the recent developments in the global medical device analytical testing outsourcing market are:

In May 2022, Intertek renews its contract with the Philippines Bureau of Customs for its Bulk and Break Bulk Cargo Clearance Enhancement Programme.
In May 2022, Intertek announced the launch of ‘Intertek Hydrogen’ which assists the hydrogen industry in commercializing ground-breaking technology securely into the future.

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Medical Device Analytical Testing Outsourcing Industry Report Segmentation:

By Service:

Extractable and Leachable
Material Characterization
Physical Testing
Bioburden Testing
Sterility Testing
Other Tests

By Device Type:

Reprocessed Devices
Others Medical

By End Use:

Hospitals
Others

By Therapeutic Areas:

Cardiology
Diagnostic Imaging
Orthopedic
IVD
Ophthalmic
General & Plastic Surgery
Drug Delivery
Endoscopy
Dental
Diabetes Care
Others

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Artificial Urinary Sphincter Market:- An ongoing study of the research analysts at Future Market Insights (FMI), offers a thorough quantitative and qualitative assessment of the Artificial Urinary Sphincter Market along with easy to grasp tables, graphs, and figures.

Sonohysterography Catheters Market:- Sonohysterography Catheters Market is likely to cross an estimated market value of US$ 22.5 Million by 2032, while it strengthens its hold in the global market at a CAGR of 5.2% (2022-2032). The sonohysterography catheters market holds revenue of US$ 12.8 Million in 2022.

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Nasal Packing Devices Market Insights on Trends and Growth Forecast by 2032

The Global Nasal Packing Devices Market is expected to reach a market valuation of US$ 182.03 Million by the year 2022, accelerating with a moderate CAGR of 5.1% by 2022-2032. Nasal Packing Devices market size is anticipated to be valued at about US$ 299.35 Million by 2032 end.

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With more people experiencing epistaxis, there has been an increase in the demand for nasal packing devices. According to the International Journal of Otolaryngology, more than 12% of the global population suffered from epistaxis in 2021, with 75% of those affected requiring medical attention.

A common clinical condition, epistaxis is characterized by bleeding from the nostrils, and it is widely believed that hypertension is the primary cause of this condition. The increasing number of people with hypertension is good news for the nasal packing devices industry. Nosebleeds are a common pregnancy symptom due to the increased blood flow caused by the dilation of blood vessels.

The rising prevalence of hypertension among pregnant women is a key factor propelling the nasal packing devices market. The increased prevalence of nasal malignancies is also fueling the demand for nasal packing devices. As a result of complications such mucosal lacerations, which can cause more bleeding, infections, and toxic shock syndrome, nasal packing devices are not as popular as they once were (TSS).

Since this is the case, the adoption of nasal packing devices is anticipated to decrease. The proliferation of nasal packing devices, on the other hand, is being propelled by the constant focus on technology advances and the introduction of new items in this space.

From 2022 to 2032, the Asia-Pacific region is expected to post the highest nasal packing devices market growth rate worldwide. High unmet requirements, a thriving economy, and an overall improvement in healthcare facilities, particularly in developing countries like China and India, are mostly responsible for this expansion. Additionally, the expansion of the market is due to the rising level of public understanding of nasal packing devices and the roles they play.

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Key Takeaways from Market Study

North America is the fastest growing region for the nasal packing devices market.
The nasal packing devices market is anticipated to reach a valuation of US$ 299.35 Million by 2032.
Development of more cutting-edge medical equipment are opening new opportunities in the market.
About 55% of the revenue in 2021 came from the non-absorbable nasal packing devices market category.

Competitive Landscape

In order to keep up with the ever-increasing innovation and demand for nasal packing devices, market participants are strongly encouraged to engage heavily in R&D activities and focus their attention there. Increased competition from companies offering innovative features has contributed to the growth of the nasal packing device industry.

During the projected period, the nasal packing devices manufacturing industry is anticipated to grow as a result of new product releases, mergers, and acquisitions.

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In August of 2021, a binding agreement was announced between Medtronic and Intersect ENT, whereby Medtronic would buy all outstanding shares of Intersect ENT for USD 28.25 per share in cash, for a total purchase price of USD 1.1 billion.

Emerging Innovations in the Market

Research and development for new technologies and nasal packaging device innovation are both actively pursued by new market entrants. Smith & Nephew has released a series of nasal packaging devices that use their proprietary RAPID RHINO technology. This technology utilises a carboxymethylcellulose (CMC) blend with self-lubricating properties to apply mild, uniform pressure to the nose, facilitating the quick re-contouring of the nose. The global nasal packaging device market is anticipated to expand on account of similar technical developments and strategic implementations by both rising and established market competitors.

Nasal Packing Devices Market by Segmentation

By Product:

Injectable
Gel
Spray
Dressings

By Type:

Bio-resorbable
Non-absorbable

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Explore wide-ranging Coverage of FMI’s Packaging Market Insights Landscape

Rib Fracture Repair Systems Market:- The Rib Fracture Repair Systems Market is expected to reach US$ 420.3 million in 2022 and is projected to increase at a CAGR of 5.2% to reach US$ 699.5 million by 2032.

Microbial Gene Editing Market:- Microbial Gene Editing is technology which have the ability to change the DNA of organism. Microbial gene editing is changing the ways for developing new medical treatment.

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Ophthalmic Diagnostic Equipment Market to Etch New Growth Ratio with Adoption in Developing Economy

The global Ophthalmic Diagnostic Equipment Market is anticipated to showcase an opulent growth opportunity, expanding at a CAGR of 6.7% with a valuation of US$ 3.0 Bn in 2022 to US$ 5.1 Bn by 2030.

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The global ophthalmic diagnostic equipment market contributed more than 5.5% market share to the ophthalmic devices market, which was estimated to account for around USD 55.0 billion in 2021.

The market for ophthalmic diagnostic equipment is expected to surge from H1-2021 to H1-2022(O) by 44 basis point share (BPS), according to an FMI assessment. However, the growth rate comparison of the H1-2022 projected and H1-2022 outlook period showed a reduced growth rate by 10 BPS.

Key Takeaways

The number of individuals suffering from serious eye diseases is rising at a global level due to which loss of vision is becoming a major public health problem. As the population has increased, the prevalence of eye diseases has also surged due to the rise in chronic diseases such as diabetes and hypertension have become more common leading to issues like glaucoma or vision impairment.
There is an increase in the number of people who are blind or have impaired vision in the upcoming years. With the rising frequency of eye disorders and the resulting increase in disability-adjusted life years (DALYs), demand for precise disease treatment is likely to increase in the future years.
Increasing technological advancements in analytical methods help in offering improved quantification and characterization with high-resolution cross-sectional 3D images of the target tissue that is difficult to view using a conventional microscope. Owing to such high-tech equipment, the surge in the ophthalmic diagnostic equipment market can be witnessed.
The emergence of advancement in technologies have provided improved quantification and Intraoperative optical coherence tomography (OCT) aids accurate decision-making during eye surgery by providing real-time imaging with simultaneous feedback features.
An increase in the demand for optical coherence topography devices has led to a rise in competition among players. As a strategy to reach the larger masses, various players/manufacturers have lowered the costs of their devices, which in turn has led to the adoption of these devices by doctors in emerging economies along with developed countries. This factor is anticipated to drive demand for these devices in emerging economies in near future.

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Competitive Landscape

TOPCON CORPORATION, ZEISS International, Ellex, Quantel Medical, NIDEK CO., LTD., HAAG-STREIT GROUP, Halma plc, Coburn Technologies Inc., Kowa Company Ltd. are some of the key companies profiled in the full version of the report.

Major competitors in the ophthalmic diagnostic equipment market are concentrating their efforts on expanding their worldwide and regional footprints through strategic acquisitions and mergers, as well as operational growth.

Companies in the ophthalmic diagnostic equipment market are following new product innovations and launches, regulatory approvals, and acquisitions as the key strategies. Key players are focusing on the development of advanced and cost-effective products and establishing distribution agreements to increase geographic reach, especially in the Asia Pacific region. Moreover, companies are targeting Asia region by establishing manufacturing units in order to reduce manufacturing costs.

More Insights into Ophthalmic Diagnostic Equipment Market

The United States is anticipated to rule the ophthalmic diagnostic equipment market accounting for over 89.2% of the North American region. Owing to the increased prevalence of refractive error disorders, the increased number of eye condition awareness programs, and the increased use of superior diagnostic technology are all contributing to this increase.

Germany accounted for approximately 28.6% of the Western Europe market in 2021. According to Eurostat one of the most common surgical procedures in Europe is cataract surgery. The rising number of cataract operations has had a significant influence on the ophthalmic industry, resulting in increased demand for cataract surgery equipment and medications.

China accounted for about 40.4% of the APEJ region in 2021. Factors such as the increasing number of people belonging to the older population that suffer primarily from poor eyesight and other eye-related diseases such as glaucoma and cataract contributed to market growth in this region.

India accounted for a 13.1% market share of APEJ in 2021 and is expected to show a similar trend in the coming years also. In India, ophthalmology-related disorders are on the rise. In India, almost 5 million cataract procedures are conducted every year. The bulk of these operations includes the implantation of intraocular lenses.

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Ophthalmic Diagnostic Equipment Market by Category

By Product:

Fundus Cameras
Retinal Ultrasound Imaging Systems
Refractors
Slit Lamps
Perimeters
Ophthalmoscopes
Tonometer
Optical Coherence Tomography (OCT)
Corneal Topography Systems

By End user:

Hospitals
Clinics
Ambulatory Surgical Centers

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Micro Guide Catheters Market:- Future Market Insights (FMI) adopted a multidisciplinary approach during the pandemic-era to focus on the growth and development of the Micro Guide Catheters Market. The study features insights on the current growth dynamics and the major revenue reforms prevailing in the market as of 2020 along with the key takeaways over the forecast period.

Digital X-ray Equipment Market:- Digital X-ray Equipment Market is projected to expand at an exceptional double-digit CAGR from 2022-2032.

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Robotic Biopsy Devices Market Detail Analysis of Current and Future Projection 2022-2032

As per Future Market Insights’ latest industry analysis, the global Robotic Biopsy Devices Market was valued at around US$ 386.4 Mn in 2021 and is projected to exhibit a CAGR of 9.4% over the forecast period. The market is set to reach US$ 435.6 Mn in 2022 and US$ 1.1 Bn in 2032.

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One of the most significant cutting-edge technologies in neurosurgery is robot-assisted biopsy for brain tumors. Robot-assisted biopsy is used to increase the safety and effectiveness of biopsy technique, which is highly desired when organizing the management of tumor pathology.

The main objective of this cutting-edge technology is to add safety equipment to the modern neurosurgery operative inventory so that it can methodically improve the precision and accuracy in operation theaters, which is not otherwise conceivable. Additionally, robotic biopsy makes the thorough preoperative process easier than other types.

The market for robotic biopsy devices is anticipated to grow at a fast pace over the projected years due to rising need for safe and effective minimally invasive procedures and growing use of automated systems in the healthcare sector. It can be further attributed to rapid transformation of conventional healthcare systems to integrated digital technology.

Key Takeaways: Robotic Biopsy Devices Market

By product, the systems segment is expected to showcase high growth at a CAGR of 4% by the end of 2032.
By application, the brain biopsy category is leading the global robotic biopsy devices market and is projected to exhibit a CAGR of 3% during the forecast period.
By end user, hospitals held around 5% of the global robotic biopsy devices market share in 2021.
The U.S. currently dominates the North America robotic biopsy devices market and it had generated a share of about 8% in 2021.
The U.K. is set to hold a share of nearly 2% in the global robotic biopsy devices market during the assessment period.

“Increasing use of automated technologies for surgical procedures and growing global burden of chronic diseases are expected to drive sales of robotic biopsy devices,” says an analyst of Future Market Insights.

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Competition Landscape: Robotic Biopsy Devices Market

The market for robotic biopsy devices is oligopolistic, with the presence of a few established manufacturers. Product range of every player in the market varies as per the competitors’ licensed novel devices with unique applications. Key players are striving to gain regulatory authorizations for creating new medical devices, generating high product sales, and initiating marketing purposes.

In October 2021, Medtronic reported that the Hugo robotic-assisted surgery (RAS) system had been granted the CE (Conformité Européenne) Mark, allowing for sales of the system across Europe.

What Does the Robotic Biopsy Devices Market Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the robotic biopsy devices market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032.

The research study is based on the product (systems and instrument & accessories), application (lung biopsy, brain biopsy, prostate biopsy, and others), and end user (hospitals, ambulatory surgical centers, and academic & research institutes) across seven key regions of the world.

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Robotic Biopsy Devices Market Outlook by Category

By Product:

Systems
Instrument & Accessories

By Application:

Brain Biopsy
Lung Biopsy
Prostate biopsy
Others

By End User:

Hospitals
Ambulatory Surgical Centers
Academic & Research Institutes

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About Healthcare Division at Future Market Insights

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

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High-Resolution Anoscopy Market:- The global High-Resolution Anoscopy Market is poised to register a CAGR of 6% to reach a valuation of US$ 24.95 Bn by 2032, up from US$ 13.93 Bn in 2022.

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Digital Health Market Will Generate Booming Growth Opportunities to 2032 | Future Market Insights

The global Digital Health Market is expected to reach a valuation of US$ 2585.98 Bn by 2032, with sales growing at an astounding CAGR of 27.7% from 2022 to 2032. Owing to the rising awareness of digital health benefits, the market for the same is likely to expand at a rapid rate and reach an estimated US$ 224.24 Bn by the end of 2022.

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The deep penetration of electronic gadgets and devices and advancing technology coupled with the rising acceptance of telemedicine and telehealth services will fuel the growth of the digital health market during the forecast period.

With the rapid digitalization of the healthcare sector, the prospects for the digital health market are also set to rise. Increasing usage of advanced technological tools like Big Data and others bodes well for the target market. Telemedicine and telehealth services are also on the rise and are increasingly adopted by both the medical community and public and private entities. This will likely have a positive impact on the digital health market.

Moreover, the increasing prevalence of chronic diseases like cancer, cardiovascular diseases, diabetes, Alzheimer’s, and other medical conditions that require long-term care and constant patient monitoring contribute to the rising demand for digital health services. In addition, electronic gadgets and smart devices such as smartphones are increasingly used as health and fitness trackers which further aids the growth of the digital health market during the forecast period.

“Improving healthcare IT infrastructure coupled with access to virtual care will stimulate the global growth of the digital health market over the forecast period,” says an FMI analyst.

Key Takeaways:

The rising prevalence of medical conditions requiring long-term care and monitoring facilitates market growth of the digital health industry.
Concerns regarding patients’ data security stymies market growth during the assessment period.
By deployment type, the cloud-based segment will likely reach an estimated US$ 519,151.4 Mn by 2032.
On the basis of solution, the software segment is predicted to hold about 45.6% of the digital health market revenue.
North America is expected to dominate the global digital health market space with a 45.9% share of the total revenue.
The digital health market in South Asia & Pacific is anticipated to reach US$ 275,462.9 Mn by 2032.

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Competitive Landscape

AT&T Inc., Apple Inc., AirStrip Technologies LP, Alcatel-Lucent Corporation, Cerner Corporation, Symantec Corporation, Aruba Networks, Inc., Cisco Systems, Inc., Qualcomm, Inc., Siemens Healthcare, and Philips Healthcare among others are some of the major players in the digital health market profiled in the full version of the report.

Leading market players are focusing on launching state-of-the-art and affordable solutions to retain a competitive edge. These firms also adopt tactics like strategic alliances, partnerships, collaborations, acquisitions, and joint ventures to increase their market share.

More Insights into Digital Health Market Report

In its latest report, FMI offers an unbiased analysis of the global digital health market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented by product type (software (healthcare payers software (healthcare claims management software, healthcare CRM software, payer care management software, others), healthcare providers software (EHR/ EMR software, e-prescribing software, healthcare asset management software, population health management software, others)), services (managed services, professional services (healthcare consulting services, integration & implementation services, support & maintenance services))), deployment (cloud-based, on-premises), end user (diagnostics centers, healthcare payers, healthcare research centers, hospitals & clinics, nursing care centers, others), and region.

According to the latest FMI reports, based on segmentation, the cloud-based deployment segment will make significant contributions to the growth of the overall market. This segment is anticipated to reach US$ 519,151.4 Mn by 2032 owing to increasing usage of cloud-based solutions by various healthcare organizations. The software solution segment will also lead the market growth, accounting for a value of US$ 646,393.1 Mn in 2032.

Based on region, the digital health market in North America will present remarkable growth during 2022-2032. The region will likely dominate the market and hold about 45.9% of the market revenue. North America’s digital health market is predicted to account for a market share worth US$ 196,094.5 Mn.

The presence of lucrative funding options, the deep reach of smartphones and other such devices, enhanced internet connectivity, and easy adaptability to progressive technology along with other factors like an ageing population and high prevalence of chronic illnesses propel the target market in this region. Besides North America, the Asia Pacific region, too, will demonstrate considerable growth in the digital health market during the forecast period.

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Key Segments

By Solution:

Software
- Healthcare Payers Software
  - Healthcare Claims Management Software
  - Healthcare CRM Software
  - Others
  - Payer Care Management Software
- Healthcare Providers Software
  - EHR / EMR Software
  - E-Prescribing Software
  - Healthcare Asset Management Software
  - Others
  - Population Health Management Software
Services
- Managed Services
- Professional Services
  - Healthcare Consulting Services
  - Integration & Implementation Services
  - Support & Maintenance Services

By Deployment:

Cloud-based
On-Premises

By End User:

Diagnostics Centers
Healthcare Payers
Healthcare Research Centers
Hospitals & Clinics
Nursing Care Centers
Others

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