Latest Publications

2022

Access our latest reports to meet all your market research needs.

Continuous Renal Replacement Therapy (CRRT) Market

June, 2022

The global continuous renal replacement therapy market was valued at USD 1.4 billion in 2021 and it is anticipated to grow at a CAGR 6.3% during the forecast period to reach up to USD 2.6 billion by 2031.

Continuous renal replacement therapy (CRRT) is a popular choice of therapy usually used for renal support in critically ill patients with acute kidney injury (AKI), primarily in hemodynamically unstable patients. It comprises the solute removal from the blood through the process of hemodialysis or hemofiltration or a combination of both methods. The CRRT therapy is generally carried out for about 24 hours in an ICU, making it altered from other kinds of conventional renal replacement therapies such as intermittent hemodialysis (IHD) which lasts for about 4 to 6 hours or even less.

Global Continuous Renal Replacement Therapy Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$1.4 bn
Market Size in 2031$2.6 bn
Growth Rate (2021-31)6.3%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Modality, Age Group, and Region
Key CompaniesBaxter International Inc. (US), Fresenius Medical Care AG & Co. KGaA (Germany), NIKKISO CO., LTD. (Japan), B. Braun Melsungen AG (Germany), Asahi Kasei Corporation (Japan), Toray Medical Co., Ltd. (Japan), Infomed SA (Switzerland), Medtronic plc (Ireland), Medica S.p.A. (Italy), Medical Components, Inc. (US)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

The increase in the prevalence of incidence of acute kidney injury is propelling the growth of the market during the forecast period. The increasing global incidence of AKI/AKF is, therefore, expected to increase the demand for CRRT. According to the International Society of Nephrology (INR), an anticipated 13.3 million cases of AKI are registered annually across the globe. This is anticipated to boost the adoption of continuous renal replacement therapy at a rapid rate. With the rapid growth in the geriatric population globally, the prevalence of kidney-related diseases is expected to increase significantly. This, in turn, is anticipated to propel the growth of the CRRT market at a significant rate during the forecast period.

Similarly, emerging markets in APAC and RoW are also offering various growth opportunities during the forecast period. Emerging markets like China, India, Brazil, and Mexico are anticipated to offer significant growth opportunities for players in the CRRT market. According to an article published by the Journal of Clinical and Diagnostic Research (JCDR) 2018, in a prospective observational study conducted on 100 critically ill patients. In India, AKI was observed in 17.3 cases/1,000 persons. To leverage the significant growth opportunities in emerging countries, players are progressively focusing on undertaking strategic developments to increase their presence in these markets and tap a large number of customers. Additionally, regulatory policies in the Asia Pacific region are more adaptive and business-friendly owing to the less-stringent data requirements. This, along with the increasing competition in the mature markets (Europe, Japan, and Australia), will further encourage CRRT product manufacturers to focus on the emerging markets.

Market Restraints and Challenges

The key factor hindering the market growth is the high procedural cost of CRPT. As the population in emerging nations is price-sensitive, they prefer lower-priced products. While the cost of CRRT in developing countries is high which makes these procedures are still unaffordable for a large portion of the population owing to the low purchasing power. This restrains the demand and uptake of CRRT in developing as well as developed countries.

Global Continuous Renal Replacement Therapy Market segmentation

The report analyses the global continuous renal replacement therapy market based on product, modality, age group, and region.

Global Continuous Renal Replacement Therapy Market by Product

Based on product, it is segmented into dialysates and replacement fluids, disposables, Hemofilters, bloodline sets & tubes, and others. The dialysates and replacement fluid segment is likely to dominate the market during the forecast period. The key factors such as benefits of convection and diffusion for the removal of solutes, which is another major factor boosting the market growth during the forecast period.

Global Continuous Renal Replacement Therapy Market by Modality

Based on modality, it is segmented into CVVH, CVVHDF, CVVHD, and SCUF. The CVVH segment is likely to dominate the market during the forecast period. The CVVHDF is likely to dominate the market during the forecast period. The high growth rate of the CVVHDF segment is attributed to its flexibility as compared to other CRRT modalities. The CVVHDF modality also combines the benefits of convection and diffusion for the removal of the solutes, which is another factor supporting the growth of the segment.

Global Continuous Renal Replacement Therapy Market by Age Group

Based on age group, it is segmented into adults, and pediatric/neonates. The adult segment is likely to dominate the market during the forecast period. The increasing demand for invisible braces among adults owing to the large adult population base with AKI, the increase in the hospitalization among the adult population, and the large availability of CRPT systems and disposables of adults undergoing CRRT procedures.

Geographical Analysis of Continuous Renal Replacement Therapy Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America is likely to dominate the market during the forecast period. The Europe region is witnessing the fastest growth during the forecast period. The key factors such as rising approval of CRRT products for multiple applications across many European countries coupled with initiatives by the government to increase the awareness about the advancements in renal therapy are likely to play a major role in fueling the growth of the market.

Major Players in Continuous Renal Replacement Therapy Market

The key players studied in the continuous renal replacement therapy market are Baxter International Inc. (US), Fresenius Medical Care AG & Co. KGaA (Germany), NIKKISO CO., LTD. (Japan), B. Braun Melsungen AG (Germany), Asahi Kasei Corporation (Japan), Toray Medical Co., Ltd. (Japan), Infomed SA (Switzerland), Medtronic plc (Ireland), Medica S.p.A. (Italy), Medical Components, Inc. (US), Medites Pharma spol. s.r.o. (Czech Republic), SWS Hemodialysis Care Co., Ltd. (China), Ningbo Tianyi Medical Devices Co., Ltd. (China), Nipro Corporation (Japan), and Anjue Medical Equipment Co., Ltd. (China).

COVID-19 Impact

The COVID-19 pandemic has significantly affected the CRRT market. The surge in the number of COVID cases, combined with the rise in its severity rate, is anticipated to create a potential increase in the incidence of kidney damage. This makes AKI the next emerging healthcare concern after respiratory tract infections among patients with COVID-19. Owing to the pandemic, the demand for renal replacement fluids has raised significantly across the globe. According to an article published by the International Society of Nephrology 2020, countries like China and Italy reported AKI rates as high as 29%. The early initiation of continuous renal replacement therapy (CRRT) is an important step to curbing the increasing incidence of AKI owing to the COVID-19 infection. Still, due to the rapid rise in the demand by healthcare systems, HD and PD exist as alternative dialysis treatment in ICUs, which can have a negative impact on the growth of the CRRT market during this period.

Recent Developments
  • February 2021: DaVita accomplished its first position by including a secure telehealth platform, DaVita Care Connect, into its home dialysis program.
  • December 2020: Medtronic announced the launch of the Carpediem System, the first and only pediatric and neonatal acute dialysis designed to treat patients weighing 2.5-10Kg requiring renal replacement therapy.
  • July 2019: Baxter Internatinal Inc. introduced the Pris Max CRRT system in the US.
  • January 2019: Fresenius Medical Care AG & KGaA announced the launch of the 4008A dialysis machines in India.
Frequently Asked Questions

Q1. How big is the continuous renal replacement therapy market?

Ans. The global continuous renal replacement therapy market size was USD 1.4 Billion in 2021 and is anticipated to reach USD 2.6 Billion in 2031, growing at a rate of 6.3% from 2022 to 2031.

Q2. What is the continuous renal replacement therapy market growth rate?

Ans. The growth rate of the continuous renal replacement therapy market is XX% from 2022 to 2031.

Q3. Which region holds a major market share for the continuous renal replacement therapy market?

Ans. North America holds a major market share of the continuous renal replacement therapy market in 2021.

Q4. Which segment accounted for the largest continuous renal replacement therapy market share?

Ans. By age group, the adult segment accounted for the largest continuous renal replacement therapy market share.

Q5. Who are the key players in the continuous renal replacement therapy market?

Ans. The global continuous renal replacement therapy market report includes players such as Baxter International Inc. (US), Fresenius Medical Care AG & Co. KGaA (Germany), NIKKISO CO., LTD. (Japan), B. Braun Melsungen AG (Germany), Asahi Kasei Corporation (Japan), Toray Medical Co., Ltd. (Japan), Infomed SA (Switzerland), Medtronic plc (Ireland), Medica S.p.A. (Italy), Medical Components, Inc. (US), Medites Pharma spol. s.r.o. (Czech Republic), SWS Hemodialysis Care Co., Ltd. (China), Ningbo Tianyi Medical Devices Co., Ltd. (China), Nipro Corporation (Japan), and Anjue Medical Equipment Co., Ltd. (China).

Q6. What are the factors driving the continuous renal replacement therapy market growth?

Ans. The major factors driving the growth of the market are the increasing in the prevalence of incidence of acute kidney injury.

Q7. What are the key growth strategies of continuous renal replacement therapy market players?

Ans. The key growth strategies of continuous renal replacement therapy market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the continuous renal replacement therapy market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the continuous renal replacement therapy market during the forecast period.

 

Read More

Compression Therapy Market

June, 2022

The global compression therapy market size was valued at USD 3.0 billion in 2021 and it is anticipated to grow at a CAGR of 8.4% during the forecast period to reach up to USD 6.8 billion by 2031.

Compression therapy uses controlled pressure on the lower extremities to increase blood flow and efficiency of the lymphatic and venous system. It is the most established and the most important method of treatment for venous and lymphatic diseases. According to an article published by the National Center for Biotechnology Information (NCBI) in 2018, lymphedema is a pandemic and affects approximately 250 million patients across the globe. The increase in the prevalence of vein disorders such as venous leg ulcer, lymphedema, deep vein thrombosis, etc., the increasing geriatric population, and the rise in the adoption of pressure therapies for the treatment of these vein disorders are the key factors likely to drive the compression therapy market growth during the projection period.

Global Compression Therapy Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$3.0 bn
Market Size in 2031$6.8 bn
Growth Rate (2021-31)8.4%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, Technique, Application, Distribution Channel, and Region
Key CompaniesDJO Global, Inc. (US), BSN medical (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), SIGVARIS (Switzerland), Paul Hartmann AG (Germany), Sanyleg S.r.l. (Italy), 3M (US), ConvaTec Inc. (US), ArjoHuntleigh (Sweden)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

The presence of a large target patient population is boosting the market growth of the global compression therapy market. The target population for compression therapy products includes patients suffering from lifestyle-related diseases and vascular diseases, like obesity, diabetes, lymphedema, DVT, and varicose veins. The rising geriatric population across the globe is the primary factor supporting market growth as geriatric individuals are more susceptible to various health conditions. These factors are driving the demand and adoption of various treatment procedures, including compression therapy, among patients. Moreover, compression therapy products are increasingly being preferred as the first line of treatment for major target indications and for post-surgery rehabilitation.

Market Restraints and Challenges

The key factor hindering the market growth is the lack of universally accepted standards for compression products. The lack of uniform international pressure standards for compression therapy garments across the world may cause confusion regarding the selection of the garment for the treatment of various diseases. Worldwide, several standards, including the German RAL, French ASQUL, and British standards, exist with different pressure specifications comprised in each standard. For example, as per the British, French, and German standards, the pressure applied by Class I compression hosiery should be 14–17 mmHg, 15 mmHg, and 18–21 mmHg, respectively.

Adding to that, the US FDA does not have any set standards for compression garments. Currently, the pressure exerted by stockings is determined by manufacturers on the basis of their laboratory measurements owing to the lack of uniform standards for graduated compression stockings worldwide. Moreover, factors such as the elasticity and stiffness of stocking material and the size and shape of a patient’s legs can affect the overall pressure exerted by the garment. Considering the lack of uniform standards in the market, a wide range of products are offered at different price points with varying levels of medical efficacy. The varying efficacy of these products can potentially hamper customer trust in compression therapy, thereby restraining the growth of this market.

Global Compression Therapy Market Segmentation

The report analyses the global compression therapy market based on product, technique, application, distribution channel, and region.

Global Compression Therapy Market by Product

Based on the product, it is segmented into compression garments, compression braces, and compression pumps. The compression garments segment is anticipated to dominate the market during the forecast period. The factors such as the use of compression garments in a wide range of indications, like varicose veins, edema, DVT, and lymphedema, as well as in the management of several chronic conditions are propelling the growth of the market.

Global Compression Therapy Market by Technique

Based on technique, it is segmented into static compression therapy and dynamic compression therapy. Static compression therapy is likely to dominate the market during the forecast period. The key factors such as the presence of a large target population coupled with increasing incidences of sports injuries and accidents are boosting the growth of the market.

Global Compression Therapy Market by Application

Based on application, it is segmented into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and others. The lymphedema treatment segment is likely to boost the growth of the market. The key factors such as the rising incidence of lymphedema and the high presence of compression therapy products for the treatment and management of lymphedema among end user is boosting the market growth.

Global Compression Therapy Market by Distribution Channel

Based on the distribution channel, it is segmented into pharmacies & retailers, hospitals & clinics, and E-commerce platforms. The e-commerce platforms is likely to boost the growth of the market during the forecast period. The cost advantages of distributing products through e-commerce platforms, a strong and fast-expanding logistical network maintained by e-commerce companies across the globe. The increasing strategic initiatives and investments undertaken by e-commerce companies as well as market players to strengthen their presence across emerging markets are boosting the growth of the market.

Geographical Analysis of Global Compression Therapy Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region accounted for the major market share during the forecast period. The growing number of patients suffering from DVT, varicose veins, and lymphedema coupled with the increasing incidence of sports injuries and the presence of a number of compression therapy product manufacturers in the region are propelling the market growth.

Major Players in Compression Therapy Market

The key players in the global compression therapy market are DJO Global, Inc. (US), BSN medical (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), SIGVARIS (Switzerland), Paul Hartmann AG (Germany), Sanyleg S.r.l. (Italy), 3M (US), ConvaTec Inc. (US), ArjoHuntleigh (Sweden), Julius Zorn GmbH (Germany), Bio Compression Systems, Inc. (US), Cardinal Health, Inc. (US), and Smith & Nephew plc (UK).

COVID-19 Impact

The current global COVID-19 pandemic has significantly impacted markets across multiple sectors and industries such as healthcare, oil & petroleum, aeronautics & defense, and food & beverage. The majority of these industries are witnessing a period of uncertainty in terms of global economic conditions, the regional impact of the pandemic on businesses, government laws and preventive regulations, demand from end users, and challenges faced in the supply chain and logistics. Owing to that, key businesses and market players are forced to shift focus from long-term growth strategies to short-term sustainability tactics that have led to changes in business operations such as manufacturing, supplying, and consumer communication in certain sectors of the global economy. The healthcare sector is at the epicenter of this global pandemic challenge and is anticipated to have major long-term consequences. This is likely to compel countries and key market players to undergo essential healthcare reforms once the crisis is eventually under control or has faded. The private healthcare sector is facing twice the burden—investing additional manpower, equipment, consumables, and other resources to ensure 100% preparedness for safety in hospitals and the eventual treatment of patients alongside the sharp drop in out-patient footfall, elective surgeries, and international patients. Additionally, hospitals are affected by this pandemic as a clear lack in the number of healthcare professionals is being witnessed in developed as well as developing countries. The pandemic has also affected the orthopedics field since doctors are not adequately able to concentrate on regular patients since they are being redeployed for treating COVID-19 patients. Owing to that, performing orthopedics and trauma surgeries has become a significant challenge with the non-availability of hospital staff and operation facilities.

Recent Developments

  • May 2021, FDA has given clearance to Koya Medical’s compression therapy system for lower extremities.
  • April 2021, Essity acquired by ABIGO Medical. The acquisition added to the company’s wound care product portfolio.
  • April 2021, DJO acquired MedShape, Inc. This acquisition will strengthen DJO’s portfolio of fracture fixation, joint fusion, and soft tissue injury repair products, which utilize biomaterial technologies designed to improve patient outcomes.
  • February 2021, De Royal signed a USD 1.2 million agreement with Tyndall and RCSI SWaT researchers. The primary objective of this partnership was to transform compression wound therapy.
  • November 2020, Theragun. Inc. had acquired RP Sports, one of the leaders in clinical pneumatic compression. Theragun, Inc. has acquired RP Sport’s groundbreaking clinical technology product line, Recovery Pump.
  • July 2020, AIROS Medical Inc., announced the launch of its updated compression therapy products. The company’s new AIROS 6 Sequential Compression Therapy device and Arm Plus garments had been approved by the FDA for the first time in three years.
  • June 2020, Medi GmbH & Co. KG launched mediven cosy 450, which added to its flat-knit compression portfolio.
Frequently Asked Questions

Q1. How big is the compression therapy market?

Ans. The global compression therapy market size was USD 3.0 Billion in 2021 and is anticipated to reach USD 6.8 Billion in 2031, growing at a rate of 8.4% from 2022 to 2031.

Q2. What is the compression therapy market growth rate?

Ans. The growth rate of the compression therapy market is 8.4% from 2022 to 2031.

Q3. Which region holds a major market share for the compression therapy market?

Ans. North America holds a major market share of the compression therapy market in 2021.

Q4. Which segment accounted for the largest compression therapy market share?

Ans. By product, the compression garment segment accounted for the largest compression therapy market share.

Q5. Who are the key players in the compression therapy market?

Ans. The global compression therapy market report includes players such as DJO Global, Inc. (US), BSN medical (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), SIGVARIS (Switzerland), Paul Hartmann AG (Germany), Sanyleg S.r.l. (Italy), 3M (US), ConvaTec Inc. (US), ArjoHuntleigh (Sweden), Julius Zorn GmbH (Germany), Bio Compression Systems, Inc. (US), Cardinal Health, Inc. (US), and Smith & Nephew plc (UK).

Q6. What are the factors driving the compression therapy market growth?

Ans. The major factors driving the growth of the market are the increasing number of orthopedic procedures.

Q7. What are the key growth strategies of compression therapy market players?

Ans. The key growth strategies of compression therapy market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the compression therapy market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the compression therapy market during the forecast period.

Read More

Companion Diagnostics Market

June, 2022

The global companion diagnostics market was valued at USD 5.9 billion in 2021 and it is anticipated to grow at a CAGR of 11.8% during the forecast period to reach up to USD 18.0 billion by 2031.

Companion diagnostics is a medical device used along with therapeutic drugs to analyze the effect & applicability of drugs on a specific human body. Companion diagnostics are developed along with drugs for selecting or excluding groups of patients based on the characteristics of which they respond to the therapy. This device helps the healthcare professional to analyze whether a particular treatment is beneficial to the patient.

Global Companion Diagnostics Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$5.9 bn
Market Size in 2031$18.0 bn
Growth Rate (2021-31)11.8%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct & Services, Technology, Indication, End User, and Region
Key CompaniesF. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (US), Qiagen N.V. (Germany), Thermo Fisher Scientific, Inc. (US), Abbott Laboratories, Inc. (US), Almac Group (UK), Danaher Corporation (US), Illumina Inc. (US), bioMérieux SA (France), Myriad Genetics, Inc. (US)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

The key factor such as the growing requirement for targeted medicine is boosting the growth of the market. With advances in genetic sequencing and genomics, it is now extensively believed that drugs can show varying outcomes in different individuals. A better understanding of the genetic characteristics or biomarkers of an individual can promote the practice of administering ‘the right drug, at the right time, at the right dose, for the right person. Pharmaceutical and biopharmaceutical companies are regularly attempting to implement patient-selection diagnostic frameworks in the earlier stages of drug development to provide targeted therapies to the right candidate. This further boosted the growth of the companion diagnostics market.

Similarly, the increasing demand for next-generation sequencing is also refueling the market during the forecast period. NGS-based companion diagnostic target to unlock molecular information from each patient’s tumor genome to guide treatment decisions for cancer therapies. Next-generation sequencing detects multiple biomarkers for multiple drug therapies in a shorter time frame as compared to other sequencing techniques. The use of NGS panels for biomarker measurement in one test has the potential to help in the treatment of various types of cancers. The various technological advancements in NGS also provide market players with an immediate competitive edge over players providing other technologies such as PCR, ICH, and ISH. Owing to that, major market players are focusing on developing companion diagnostic products based on NGS.

Market Restraints and Challenges

The key factor hindering the market growth is the lack of awareness of companion diagnostics testing. It is important to build awareness amongst patients, clinicians, and the public regarding the importance of clinical trials. To increase awareness among clinicians, providing special access to the reputable, evidence-based latest information on these new cancer medicines can be helpful. To improve public awareness, increasing access to a common and trusted source of truth is essential. Several publishing houses coupled with industry players provide monthly journals and information leaflets. Stakeholders have also focused on awareness initiatives to ensure patients and providers can access and understand the benefits of companion diagnostics.

Global Companion Diagnostics Market Segmentation

The report analyses the global companion diagnostics market based on product & services, technology, indication, end user, and region.

Global Companion Diagnostics Market by Products & Services

Based on products & services, it is segmented into assays, kits & reagents, software and services. The assay, kits & reagents accounted for the largest share of the companion diagnostics market in 2021. The factors such as the availability of a wide range of products coupled with the increasing use of assays and kits in different therapeutic areas are boosting the growth of the market.

Global Companion Diagnostics Market by Technology

Based on technology, it is segmented into a polymerase chain reaction, next-generation sequencing, In situ hybridization, immunohistochemistry, and others. The PCR segment is likely to dominate the market during the forecast period. Ease of use coupled with the widespread availability of PCR kits & reagents in companion diagnostic testing and growing applications of PCR in the high-throughput detection of mutants with a limited or low allele frequency of genes are some factors boosting the market growth.

Global Companion Diagnostics Market by Indication

Based on indication, it is segmented into cancer, cardiovascular diseases, neurological diseases, infectious diseases, and others. The cancer segment is likely to dominate the market during the forecast period. Factors such as the growing role of companion diagnostics in the personalized medicine treatment for cancer coupled with the increasing utility of biomarkers in the diagnosis of cancer are boosting the market growth.

Global Companion Diagnostics Market by End User

Based on the end user, it is segmented into pharmaceutical & biopharmaceutical companies, reference laboratories, contract research organizations, and others. The pharmaceutical & biopharmaceutical companies segment is likely to dominate the market during the forecast period. The key factors such as the growing use of companion diagnostics owing to their increasing prominence in drug development coupled with the increasing importance of companion diagnostic biomarkers are boosting the market growth.

Geographical Analysis of Companion Diagnostics Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is likely to dominate the market during the forecast period. The key factors such as the presence of many leading companion diagnostic vendors & national clinical laboratories coupled with the easy accessibility to technologically advanced devices and instruments, and the highly developed healthcare system in the US and Canada.

Major Players in Companion Diagnostics Market

The key players of the companion diagnostics market are F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (US), Qiagen N.V. (Germany), Thermo Fisher Scientific, Inc. (US), Abbott Laboratories, Inc. (US), Almac Group (UK), Danaher Corporation (US), Illumina Inc. (US), bioMérieux SA (France), Myriad Genetics, Inc. (US), Sysmex Corporation (Japan), Abnova Corporation (Taiwan), Guardant Health, Inc. (US), ICON Plc (Ireland), BioGenex Laboratories, Inc. (US), Invivoscribe Technologies (US), ArcherDX, Inc. (US), NG Biotech (France), Q² Solutions (US), Amoy Diagnostics Co., Ltd. (China), Abacus Diagnostica Oy (Finland), Asuragen Inc. (US), SAGA Diagnostics (Sweden), Meso Scale Diagnostics, LLC. (US), and Creative Biolabs (US).

COVID-19 Impact

The emergence of the COVID-19 pandemic has changed the delivery of medical care across the globe. The raised pressure owing to the rising rate of hospitalization of COVID-19 patients had led to the re-profiling of many hospitals and departments for treating patients with COVID-19. The COVID-19 outbreak led to curfews and lockdown across the globe, leading to many diagnostic and treatment procedures had been cancelled or postponed around the world, comprising as many as 2.3 million cancer surgeries according to one study. Clinical trials in oncology have also been affected, with about 170 studies suspended owing to Covid-19, according to a report by Evaluate Vantage. It has mild-moderately affected the growth of the companion diagnostics market. As stringencies with respect to curfews and social distancing become more liberal, the demand is expected to grow, creating a deficit in the market. Still, a resurgence in testing numbers is being seen as countries gradually ease restrictions on movement. Additionally, the demand for companion diagnostic tests is on the rise for the early detection and screening of chronic diseases. These tests also help reduce the side-effects of drugs, improve patient outcomes, provide high diagnostic accuracy and specificity, reduce pharmacotherapy variability, and identify the most-effective targeted therapy options. They are also associated with higher drug development success.

Recent Developments
  • May 2021: QIAGEN N.V. (Germany) expanded the therascreen KRAS Kit.
  • May 2020: Medical and Biological Laboratories Co. Ltd., announced that it has launched an in vitro diagnostic kit for the genetic disease Spinal Muscular Atrophy. The MEBCDX AAV9 test kits, was licensed from Quest Diagnostics.
  • May 2019: QIAGEN N.V. launched the therascreen PIK3CA RGQ PCR kit in PIQRAY therapy in the U.S. to enhance its product portfolio in the Companion Diagnostics Market.
  • April 2019: Roche Diagnostics acquired TIB Molbiol Group. This acquisition will enhance Roche’s broad portfolio of molecular diagnostics solutions with a wide range of assays for infectious diseases, such as identifying SARS-CoV-2 variants.
Frequently Asked Questions

Q. How big is the companion diagnostics market?

Ans. The global companion diagnostics market size was USD 5.9 Billion in 2021 and is anticipated to reach USD 18.0 Billion in 2031, growing at a rate of 11.8% from 2022 to 2031.

Q. What is the companion diagnostics market growth rate?

Ans. The growth rate of the companion diagnostics market is 11.8% from 2022 to 2031.

Q. Which region holds a major market share for the companion diagnostics market?

Ans. North America holds a major market share of the companion diagnostics market in 2021.

Q. Which segment accounted for the largest companion diagnostics market share?

Ans. By technology, the PCR segment accounted for the largest companion diagnostics market share.

Q. Who are the key players in the companion diagnostics market?

Ans. The global companion diagnostics market report includes players such as F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (US), Qiagen N.V. (Germany), Thermo Fisher Scientific, Inc. (US), Abbott Laboratories, Inc. (US), Almac Group (UK), Danaher Corporation (US), Illumina Inc. (US), bioMérieux SA (France), Myriad Genetics, Inc. (US), Sysmex Corporation (Japan), Abnova Corporation (Taiwan), Guardant Health, Inc. (US), ICON Plc (Ireland), BioGenex Laboratories, Inc. (US), Invivoscribe Technologies (US), ArcherDX, Inc. (US), NG Biotech (France), Q² Solutions (US), Amoy Diagnostics Co., Ltd. (China), Abacus Diagnostica Oy (Finland), Asuragen Inc. (US), SAGA Diagnostics (Sweden), Meso Scale Diagnostics, LLC. (US), and Creative Biolabs (US).

Q. What are the factors driving the companion diagnostics market growth?

Ans. The major factors driving the growth of the market are the increasing demand for next-generation sequencing.

Q. What are the key growth strategies of companion diagnostics market players?

Ans. The key growth strategies of companion diagnostics market players are product launch and product approval.

Q. Which region will provide more business opportunities for the companion diagnostics market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the companion diagnostics market during the forecast period.

Read More

Companion Animal Pharmaceuticals Market

June, 2022

The global companion animal pharmaceuticals market was valued at USD 12.9 billion in 2021 and it is anticipated to grow at a CAGR of 7.6% during the forecast period to reach up to USD 26.8 billion by 2031.

The rising adoption of pet animals due to growing urbanization and an increase in the number of nuclear families is among the primary market growth factors. A growing focus on animal health along with surging demand for pet insurance, especially in developed countries will augment the market expansion. The consistent rise in the number of diseases affecting animals is, in turn, generating demand for companion animal drugs. Additionally, industrial growth is attributable to the increasing incidence of zoonotic and food-borne diseases across the globe.

Global Companion Animal Pharmaceutical Market Scope and Report Structure
Report Attribute Details
Market Size in 2021$12.9 bn
Market Size in 2031$26.8 bn
Growth Rate (2021-31)7.6%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredIndication, Animal Type, Distribution Channel, and Region
Key CompaniesZoetis Inc. (US), Merck & Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Elanco Animal Health Incorporated (US), Ceva Santé Animale (France), Virbac (France), Vetoquinol S.A. (France), Dechra Pharmaceuticals plc (UK), Chanelle Pharma (Ireland), Kyoritsu Seiyaku (Japan)
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

The key factors such as the growing prevalence of zoonotic diseases is boosting the market growth during the forecast period. Some pathogens, such as zoonotic, can be transmitted from animals to humans. Examples of zoonotic diseases include rabies, salmonellosis, plague, brucellosis, and Lyme disease. Animals also share our susceptibility to certain diseases and environmental hazards and can serve as an early warning for potential human infections. Over the past two decades, the incidence of zoonotic diseases has increased across the globe, primarily as a result of the increased pet population. According to the International Livestock Research Institute (ILRI), 13 zoonoses cause 2.4 billion cases of human diseases and 2.2 million deaths every year. Toxoplasmosis—which is transmitted via cat feces—is quite common, with 10–20% of the UK population and 22% of the US population expected to carry the parasite as cysts. Cats with chronic bacteremia are primarily infected through saliva, and there is a high risk of transmittance from young adult cats. Although cats are asymptomatic carriers, weaker individuals can develop generalized infections. Many of the emerging and re-emerging infectious disease threats are vector-borne diseases transferred to animals and humans from arthropods.

Market Restraints and Challenges

The increasing pet care costs is likely to hinder the market growth during the forecast period. According to the APPA National Pet Owners Survey (2019), the average household in the US spent USD 731 on the routine doctor and surgical visits for dogs in 2019, a rise of 47% as compared to a decade ago. Similarly, USD 427 was spent on the routine doctor and surgical visits for cats in 2019. In Germany, the annual veterinary cost is ~USD 162.9 (EUR 140) per dog and USD 75.61 (EUR 65) per cat. In Japan, pet owners spend around USD 2,000–3,000 (JPY 200,000–300,000) annually on pet health. While the pet insurance market is expanding, the number of animals covered for treatments is still very less. As a result, animal owners generally bear the majority of the cost of treatments. Also, according to the Society for Practicing Veterinary Surgeons, coupled with the increasing pet insurance, the cost of veterinary treatment is rising by about 12% a year.

Global Companion Animal Pharmaceutical Market Segmentation

The report analyses the global companion animal pharmaceutical market based on indication, animal type, distribution channel, and region.

Global Companion Animal Pharmaceutical Market by Indication

Based on indication, it is segmented into infectious diseases, dermatological diseases, orthopedic diseases, pain, behavioral disorders, and other indications. The dermatologic segment is likely0 to dominate the market during the forecast period. The increasing prevalence of arthritis coupled with the rising need for advanced orthopedic drugs, and the growing pet population are some key factors boosting the market growth.

Global Companion Animal Pharmaceutical Market by Animal Type

Based on animal type, it is segmented into dogs, cats, horses, and others. The dog segment is anticipated to dominate the market during the forecast period. The key factors such as the increasing dog’s population coupled with a rising ownership rate, increasing prevalence of zoonotic diseases and other skin allergies in dogs, rising canine healthcare expenditure, and the increasing number of pet insurers across the globe are boosting the market growth.

Global Companion Animal Pharmaceutical Market by Distribution Channel

Based on the distribution channel, it is segmented into veterinary hospitals, veterinary clinics, and retail pharmacies. The veterinary hospital segment is estimated to dominate the market during the forecast period. The key factors such as the animal parasiticides and antibiotics in hospital settings coupled with increasing incidence of infectious diseases, a growing number of veterinary hospitals, growing ownership of companion animals and increasing veterinary expenditure, and growing awareness about animal health in developing countries are some factors driving the growth of the segment.

Geographical Analysis of Companion Animal Pharmaceutical Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is likely to hold the major share of the market during the forecast period. The factors attributing to the growth of the market are a well-established base of animal health industries coupled with increasing incidences of parasitic infections, a large number of hospitals and clinics, a growing pool of veterinarians, and growing expenditure on animal health in the region. The growing number of research activities and funding and awareness campaigns in the field of veterinary health management is refueling the market growth.

Major Players in Companion Animal Pharmaceutical Market

The key factors in the global companion pharmaceutical market are Zoetis Inc. (US), Merck & Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Elanco Animal Health Incorporated (US), Ceva Santé Animale (France), Virbac (France), Vetoquinol S.A. (France), Dechra Pharmaceuticals plc (UK), Chanelle Pharma (Ireland), Kyoritsu Seiyaku (Japan), Zydus Animal Health and Investments Limited (India), Tianjin Ringpu Bio-Technology Co., Ltd. (China), HIPRA (Spain), Norbrook Holdings Limited (UK), Inovet (Belgium), Endovac Animal Health (US), ECO Animal Health Group plc (UK), Indian Immunologicals Ltd. (India), ALS Pvt. Ltd. (India), and Lutim Pharma Pvt. Ltd. (India).

COVID-19 Impact

Since the beginning of 2020, an increasing number of countries across the world have shut down their borders and limited transportation and travel to contain the coronavirus (COVID-19) outbreak, creating impediments for international trade and transportation. This disrupted the supply chain for the companion animal pharmaceuticals market, temporarily leading to a decline in the demand for these products. According to the American Veterinary Medical Association (AVMA), there is no evidence that animals are playing a significant epidemiological role in the spread of human COVID-19 infections; conversely, because animals and people can sometimes share diseases, it is still recommended that people with suspected/confirmed infections limit contact with animals and take precautions while handling pets or animals.

Recent Developments
  • February 2020, Vetoquinol acquired Canadian rights for the Profender product family from Elanco Animal Health. The acquisition is poised to impact the company’s revenue and offer business development opportunities in untapped economies.
  • September 2020, Virbac acquired a range of Tilapia vaccines from Ictyogroup to distribute and market them across the globe.
  • August 2020, Elanco Animal Health Incorporated announced that it has acquired Bayer Animal Health. The transaction was valued at USD 6.89 billion. This development helped the economy to expand itself in the durable animal health industry.
  • June 2020, Merck invested USD 100 million in facility expansion and enhancement efforts in its US manufacturing site in De Soto, Kansas. This site also comprises an additional expansion of the vaccine production facility, so enhancing its manufacturing and capabilities.
  • February 2020, Zoetis received FDA approval for Simparica Trio.
  • February 2019, Zoetis launched Eradia, an antibiotic for dogs, in Europe.
Frequently Asked Questions

Q. How big is the companion animal pharmaceutical market?

Ans. The global companion animal pharmaceutical market size was USD 12.9 Billion in 2021 and is anticipated to reach USD 26.8 Billion in 2031, growing at a rate of 7.6% from 2022 to 2031.

Q. What is the companion animal pharmaceutical market growth rate?

Ans. The growth rate of the companion animal pharmaceutical market is 7.6% from 2022 to 2031.

Q. Which region holds a major market share for the companion animal pharmaceutical market?

Ans. North America holds a major market share of the companion animal pharmaceutical market in 2021.

Q. Which segment accounted for the largest companion animal pharmaceutical market share?

Ans. By animal type, the dog segment accounted for the largest companion animal pharmaceutical market share.

Q. Who are the key players in the companion animal pharmaceutical market?

Ans. The global companion animal pharmaceutical market report includes players such asZoetis Inc. (US), Merck & Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Elanco Animal Health Incorporated (US), Ceva Santé Animale (France), Virbac (France), Vetoquinol S.A. (France), Dechra Pharmaceuticals plc (UK), Chanelle Pharma (Ireland), Kyoritsu Seiyaku (Japan), Zydus Animal Health and Investments Limited (India), Tianjin Ringpu Bio-Technology Co., Ltd. (China), HIPRA (Spain), Norbrook Holdings Limited (UK), Inovet (Belgium), Endovac Animal Health (US), ECO Animal Health Group plc (UK), Indian Immunologicals Ltd. (India), ALS Pvt. Ltd. (India), and Lutim Pharma Pvt. Ltd. (India).

Q. What are the factors driving the companion animal pharmaceutical market growth?

Ans. The major factors driving the growth of the market are the increasing prevalence of zoonotic diseases.

Q. What are the key growth strategies of companion animal pharmaceutical market players?

Ans. The key growth strategies of companion animal pharmaceutical market players are product launch and product approval.

Q. Which region will provide more business opportunities for the companion animal pharmaceutical market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the companion animal pharmaceutical market during the forecast period.

Read More

Latest Analyst Insights

Gemini :

Gemini is an online crypto trading platform that allows users to buy, sell and trade more than 75 different cryptocurrencies. Like every other crypto company, Gemini uses the Blockchain for cybersecurity purposes. Gemini also allows users to transfer crypto into their own ‘Gemini Earn’ currency which offers interest to customer crypto investments. Gemini’s newest product, the Gemini Credit Card, offers users instant returns in Crypto. Gemini, as a company, prides itself on its Institutional client service, insurance, security and multi-asset platform.

Coinbase Global Inc. :

Coinbase is a platform that allows users to invest, spend, save and trade in Cryptocurrencies. It is a worldwide provider of secure, crypto based financial transactions. Alongside providing a Crypto trading platform, Coinbase gives users the opportunity to earn interest on crypto, use crypto as a currency, and earn rewards on Crypto. Like other companies in this business, Coinbase is coming out with its own Credit card that does transactions in cryptocurrencies with added benefits such as better cashback, lesser fees and Crypto rewards. 

Robinhood:

Robinhood is an app that allows users to buy and sell stocks, Cryptocurrencies, and ETFs. Robinhood is one of the largest companies in this industry and their main selling point is that they do not charge any fee for crypto related transactions, unlike any competitors. Like their competitors, Robinhood is coming up with a debit card that rewards its customers in Cryptos and stocks upon usage. 

Ripple Lab:

Ripple is a Financial Technology company that provides banks and other financial monet providers to transfer money directly, without a 3rd party. Ripple uses a secure line on the blockchain to do this. Ripple is different in how it allows banks to track their transactions and use its own XRP tokens to facilitate transfers between different currencies. 

Bitfarms:

Bitfarms is a Canadian based crypto mining company that also offers customers technical repair, data analytics, electrical engineering and installation services. Bitfarms use high energy consuming computing programs that help them farm Bitcoin. All energy tey use is clean and renewable. They are one of the largest companies in the mining industry with around 10 operations ongoing.

Monex Group Inc.:

The Monex Group is an online financial institution that provides services such as asset management, investment education, Mergers & Acquisitions advising, International foreign exchange and cryptocurrency exchange. Monex’s crypto division engages in research, study, design, development and consultation in the field of cryptocurrency and block chain. They operate an app called ‘Cheese’ on which users can trade in Bitcoin.

Voyager Digital Ltd.:

Voyager Digital is a company that offers customers access to a digital platform to sell and buy crypto assets. Voyager allows its users to trade over 60 cryptos on the secure blockchain along with secure crypto payment options. Like its competitors, Voyager is coming out with its own debit card that gives rewards in crypto. Their main selling point is guaranteed monthly rewards, even without usage.

Riot Blockchain Inc.:

Riot Blockchain is an American bitcoin mining company. They are rapidly expanding their Bitcoin mining hash rate and have over 300MW in developed capacity in hosting facilities across America. Their energy sources are 88% zero emission. 

Canaan Inc.

Canaan is a Chinese provider of high performance chips that can be custom made for specific assignments. The company also offers Artificial Intelligence services such as AI chips, AI algorithms and a system on chip (SoC) method of integration. Canaan specializes in the development of chips for Blockchain servers and ASIC microprocessors used in Bitcoin mining. Their ASIC chip series was a technological revolution in that it was the first energy efficient computing equipment in the crypto industry. Canaan is still a leading manufacturer of Bitcoin mining machines worldwide.

Recur

Recur is a platform to buy and sell NFTs in a streamlined process. Like cryptocurrencies, NFTs are secure and cybersafe on the blockchain. Recur is advertised as the ‘pathway to the metaverse’ – the idea behind recur is that keeping artwork secure on the internet shows that big brands can be kept secure in the metaverse. Recur’s flagship product, the Recur pass, is a minted pass which is programmed to correspond with a color set based on the number of the pass and its attributes. This pass gives customers access to a collection of unique NFTs from a list of licensed intellectual property, including some of the world’s biggest bands.

Read More

3D Systems:

3D Systems develops 3D printers for plastics, metals and other materials while also providing software, maintenance and training services along with on-demand productions. Their main industries are Healthcare (dental and medical devices) and Industrial (aerospace and transportation). 3D Systems’ technologies include Stereolithography (SLA), Selective Laser Sintering (SLS), Direct Metal Printing (DMP), and a lot more. Stereolithogrpahy, the company’s newest technology, is marketed as the next big thing in the 3D printing world. This machine provides better speed, higher laser power, reliability and automation with advanced photopolymer materials and better processing systems. 3D systems does business throughout the world through subsidiaries. 

 

GE Additive (General Electric):

GE Additive is a world leader in metal additive design and manufacturing. They are pioneers in this field and through their advanced machines, additive experts and quality powders, the company builds innovative new products for customers. Their 3D printer technology is becoming advanced enough to use robots for optimization and acceleration of development times at plants. Current 3D printers are specialized to a variety of fields such as medical, industrial and aeronautical. Their newest technology, the Direct Metal Laser Melting machines incorporate lasers to melt layers of fine powder and create incredibly accurate geometries in several different sizes, capable of meeting the needs of any industry. 

 

Autodesk Inc.

Autodesk Inc. is an American company that produces 3D printers which offer customer solutions in the architecture, engineering, construction, manufacturing and media fields. The company’s products include a variety of printers such as the AutoCAD series, 3ds Max, Maya, Revit, Inventor and the new flagship printer, the Fusion 360. The Fusion 360 is a cloud based 3D modeling software for product design and software. It streamlines the printing process and still builds with accuracy to meet the aesthetics, form, fit and function.

 

Exone Company

The Exone company develops and provides services for 3D printing across the globe. The company uses both direct (metal) and indirect (sand) applications. Direct production produces a tool while indirect production produces a component to make a tool. A big service Exone offers is its pre-production collaboration that prints products for customers through its network of Exone Adoption Centers. Exone provides materials and parts of the process to the customers along with training and technical support.

 

Hoganas AB

Hoganas is a Swedish company that produces iron, metal and ceramic powders. They are a modern company who look to use their technology to solve problems like sustainable energy with powders and solutions. Hoganas is the leading producer of metal and iron powders with a yearly capacity of 500,000 tons. The advantages of using powder include far cheaper costs, lesser energy usage and lesser post production processes such as metal removal. In addition to powders, Hoganas develops 3D printers that can develop very precise, high quality and accurate parts with additive manufacturing, all while being cost effective. These 3D printers use Hoganas powders to make products.

 

Optomec Inc.

Optomec Inc. is a recognized leader in innovation in the field of 3D Printing. Their investments in the development of the 3D Additive Manufacturing Systems have led to a system that is cheaper with more functional benefits than a traditional one. Optomec Aerosol Jet Printers are used in the development of next gen microelectronic devices. This ability to directly print lightweight electronics make this machine special and an ideal device to reduce device size and weight. 

 

Organovo Holdings Inc.

Organovo Holdings is a biotechnology company that builds high fidelity 3D tissues that can mimic key aspects of a human tissue such as its composition, structure, architecture and even disease. The company has its own automated NovoGen Bioprinters that enable the fabrication of 3D living tissues. These bioprinters dispense pure hydrogel formulations, which are important components of tissue prototyping and manufacturing. So far, this technology has been used to create copies of a healthy human liver, kidney, intestine, skin, bone, skeletal muscle, eye and other organs. These models are meant to help scientists cure disease. 

 

Ponoko Limited:

Ponoko Limited is a new, small group that believes in a digital manufacturing future. They aim to produce a product 10x faster at a cheaper cost. Ponoko does this by  using laser cutting instead of 3D printers to build for custom parts. They use over 200 engineering grade materials such as plastics, rubbers, foam and more. Using laser cutting gives Ponoko much more accuracy at a much cheaper price, along with a faster process. Ponoko services are used in a variety of fields such as technology, jewelry, automobiles, scientific devices and agriculture.

 

Stratasys Ltd:

Stratasys Ltd. is a company that provides polymer based 3D Printing Solutions. They are a company known for their innovation and development and have over 1,500 technological patents. They create parts for a variety of industries such as aerospace, transportation, medical and education. Their company provides services for expertise on  materials, software, and on demand production. Stratasys 3D printers include Connex3 Object260, F170 and the newest, ‘next level’ Origin One printer. The Origin One is a top of the line printer that enables mass production through accuracy, consistency and detail with the P3 Programmable Photopolymerization Technology. It is a versatile machine that is capable of printing both big and small objects with the same degree of accuracy. Stratasys is one of the biggest companies in this industry and operates throughout the globe.

 

Voxeljet AG:

Voxeljet AG is a Germany based company that manufactures and provides services for 3D printers. Voxeljet is divided into 2 parts – Voxeljet Systems and Voxeljet Services. The Systems section produces and sells 7 printing systems under the Voxeljet series. These products give customers a variety of options to suit what they want in important categories such as size, functional components, materials used and automation with the same base voxeljet 3D printer template. The Voxeljet Services part of the company operates a 3D printing station that allows customers to make on-demand production of models. Voxeljet Systems sells throughout the world with a production plant based in Augsburg, Germany.

Read More

Digital Health is the intersection between technology and healthcare. It is a rapidly dev eloping industry that includes categories such as mobile health apps, health information technology, wearable devices, telehealth and personalized medicine. Patients, doctors, nurses, scientists and researchers all use this technology today. This technology is vital to ensure people are treated in a fair, ethical and equal way along with transparency.

Digital Health technology records data from all activities, including ‘traditional’ health data such as blood pressure and heart rate along with real time information from different societal activities. This data is then classified according to factors such as age, area, disease, height, weight etc to develop correlations between situations and find cures to diseases. With the advent of Big Data and Artificial Intelligence, this information can be found with a large sample size and rapid discoveries of correlations. AI will be a big aid to medics as it can recommend people with what they need, when they should take their medicines and use safer treatment methods. Some of this technology is already seen now in mHealth mobile apps and wearables that can record heart rate and manage long term diseases. Hospitals use AI and medical devices to perform difficult, accurate tasks such as surgeries or dental treatments. While there is still the ethical question, and the patient’s approval over whether robots should be operating on them, it is a scientific fact that the AI based machines are more reliable than normal human doctors.

During the COVID pandemic, the use of online health care with remote patient monitoring tools and telehealth increased as people needed to stay far apart to avoid the spread of the virus. The amount of people interested in telehealth rocketed from 11% in 2019 to 76% in 2020. Along with this, Digitization of healthcare helped increase the speed with which billions of vaccines reached people on time. Governments across the world used their own apps to keep track of vaccination records, let people know where there was a COVID hotspot and other helpful features. While Digital Health massively helped people during the pandemic, it also exposed problems in healthcare facilities throughout the world that can now be addressed. The pandemic also increased the rate of development in this field as demand for these technologies increased.

While this technology is readily available in developed countries, getting this to middle and lower income nations is crucial. This technology has the ability to save millions of lives and for this reason, the World Health Organization has developed a plan to efficiently distribute Digital Health devices over the next five years with a global strategy that is understood by its member states. They aim to institutionalize Digital Health in the national health system of countries, promote the use of this technology in the right way and appropriately invest in Digital Health in poorer countries as things like poverty, education, digital divide, infrastructure and financial investment also need to be addressed. Along with this, it is vital that countries agree to the free passage of accurate health statistics. During the COVID pandemic, some countries reported lower cases to make the ruling party look better. With this technology, people are told the truth.

In conclusion, Digital Health has the ability to gather a vast amount of data, utilize that data to develop more accurate healthcare solutions and automatize human healthcare tasks. The further innovation in this field will be a gigantic leap for humanity as a whole as this technology is certain to save a number of lives.

Read More

Press Releases

New York, June 2022: According to a new research study by Global Insight Services (GIS), the companion animal pharmaceutical market is expected to grow rapidly over the next 10 years to reach a value of more than the US $26.8 billion by 2031.

The rising adoption of pet animals due to growing urbanization and an increase in the number of nuclear families is among the primary market growth factors. A growing focus on animal health along with surging demand for pet insurance, especially in developed countries will augment the market expansion. The consistent rise in the number of diseases affecting animals is, in turn, generating demand for companion animal drugs. Additionally, industrial growth is attributable to the increasing incidence of zoonotic and food-borne diseases across the globe.

Request Sample Pages of this Research Report: https://www.globalinsightservices.com/request-sample/GIS10260/

Global Companion Animal Pharmaceutical Market: Key Drivers

The key factors such as the growing prevalence of zoonotic diseases is boosting the market growth during the forecast period. Some pathogens, such as zoonotic, can be transmitted from animals to humans. Examples of zoonotic diseases include rabies, salmonellosis, plague, brucellosis, and Lyme disease. Animals also share our susceptibility to certain diseases and environmental hazards and can serve as an early warning for potential human infections. Over the past two decades, the incidence of zoonotic diseases has increased across the globe, primarily as a result of the increased pet population. According to the International Livestock Research Institute (ILRI), 13 zoonoses cause 2.4 billion cases of human diseases and 2.2 million deaths every year. Toxoplasmosis—which is transmitted via cat feces—is quite common, with 10–20% of the UK population and 22% of the US population expected to carry the parasite as cysts. Cats with chronic bacteremia are primarily infected through saliva, and there is a high risk of transmittance from young adult cats. Although cats are asymptomatic carriers, weaker individuals can develop generalized infections. Many of the emerging and re-emerging infectious disease threats are vector-borne diseases transferred to animals and humans from arthropods.

Report Findings

The dermatologic segment is likely to dominate the market during the forecast period

The increasing prevalence of arthritis coupled with the rising need for advanced orthopedic drugs, and the growing pet population are some key factors boosting the market growth.

The dog segment is anticipated to dominate the market during the forecast period

The key factors such as the increasing dog’s population coupled with a rising ownership rate, increasing prevalence of zoonotic diseases and other skin allergies in dogs, rising canine healthcare expenditure, and the increasing number of pet insurers across the globe are boosting the market growth.

The veterinary hospital segment is estimated to dominate the market during the forecast period

The key factors such as the animal parasiticides and antibiotics in hospital settings coupled with increasing incidence of infectious diseases, a growing number of veterinary hospitals, growing ownership of companion animals and increasing veterinary expenditure, and growing awareness about animal health in developing countries are some factors driving the growth of the segment.

Have a question for our analyst: https://www.globalinsightservices.com/inquiry-before-buying/GIS10260/

Competitive Landscape

The key factors in the global companion pharmaceutical market are Zoetis Inc. (US), Merck & Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Elanco Animal Health Incorporated (US), Ceva Santé Animale (France), Virbac (France), Vetoquinol S.A. (France), Dechra Pharmaceuticals plc (UK), Chanelle Pharma (Ireland), Kyoritsu Seiyaku (Japan), Zydus Animal Health and Investments Limited (India), Tianjin Ringpu Bio-Technology Co., Ltd. (China), HIPRA (Spain), Norbrook Holdings Limited (UK), Inovet (Belgium), Endovac Animal Health (US), ECO Animal Health Group plc (UK), Indian Immunologicals Ltd. (India), ALS Pvt. Ltd. (India), and Lutim Pharma Pvt. Ltd. (India).

Global Companion Animal Pharmaceuticals Market Segmentation

By Indication

  • Infectious Diseases
  • Dermatologic Diseases
  • Pain
  • Orthopedic Diseases
  • Behavioral Diseases
  • Others

By Animal Type

  • Dogs
  • Cats
  • Horses
  • Others

By Distribution Channel

  • Veterinary Hospitals
  • Veterinary Clinics
  • Retail Pharmacies

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Request report customization: https://www.globalinsightservices.com/request-customization/GIS10260/

Global Companion Animal Pharmaceutical Market: Recent Developments
  • February 2020, Vetoquinol acquired Canadian rights for the Profender product family from Elanco Animal Health. The acquisition is poised to impact the company’s revenue and offer business development opportunities in untapped economies.
  • September 2020, Virbac acquired a range of Tilapia vaccines from Ictyogroup to distribute and market them across the globe.
  • August 2020, Elanco Animal Health Incorporated announced that it has acquired Bayer Animal Health. The transaction was valued at USD 6.89 billion. This development helped the economy to expand itself in the durable animal health industry.
  • June 2020, Merck invested USD 100 million in facility expansion and enhancement efforts in its US manufacturing site in De Soto, Kansas. This site also comprises an additional expansion of the vaccine production facility, so enhancing its manufacturing and capabilities.
  • February 2020, Zoetis received FDA approval for Simparica Trio.
  • February 2019, Zoetis launched Eradia, an antibiotic for dogs, in Europe.
Read More

New York, June 2022: According to a new research study by Global Insight Services (GIS), the companion diagnostics market is expected to grow rapidly over the next 10 years to reach a value of more than the US $18.0 billion by 2031.

Companion diagnostics is a medical device used along with therapeutic drugs to analyze the effect & applicability of drugs on a specific human body. Companion diagnostics are developed along with drugs for selecting or excluding groups of patients based on the characteristics of which they respond to the therapy. This device helps the healthcare professional to analyze whether a particular treatment is beneficial to the patient.

Request Sample Pages of this Research Report: https://www.globalinsightservices.com/request-sample/GIS10261/

Global Companion Diagnostics Market: Key Drivers

The key factor such as the growing requirement for targeted medicine is boosting the growth of the market. With advances in genetic sequencing and genomics, it is now extensively believed that drugs can show varying outcomes in different individuals. A better understanding of the genetic characteristics or biomarkers of an individual can promote the practice of administering ‘the right drug, at the right time, at the right dose, for the right person. Pharmaceutical and biopharmaceutical companies are regularly attempting to implement patient-selection diagnostic frameworks in the earlier stages of drug development to provide targeted therapies to the right candidate. This further boosted the growth of the companion diagnostics market.

Similarly, the increasing demand for next-generation sequencing is also refueling the market during the forecast period. NGS-based companion diagnostic target to unlock molecular information from each patient’s tumor genome to guide treatment decisions for cancer therapies. Next-generation sequencing detects multiple biomarkers for multiple drug therapies in a shorter time frame as compared to other sequencing techniques. The use of NGS panels for biomarker measurement in one test has the potential to help in the treatment of various types of cancers. The various technological advancements in NGS also provide market players with an immediate competitive edge over players providing other technologies such as PCR, ICH, and ISH. Owing to that, major market players are focusing on developing companion diagnostic products based on NGS.

Report Findings

The assay, kits & reagents accounted for the largest share of the companion diagnostics market in 2021

The factors such as the availability of a wide range of products coupled with the increasing use of assays and kits in different therapeutic areas are boosting the growth of the market.

The PCR segment is likely to dominate the market during the forecast period

Ease of use coupled with the widespread availability of PCR kits & reagents in companion diagnostic testing and growing applications of PCR in the high-throughput detection of mutants with a limited or low allele frequency of genes are some factors boosting the market growth.

The cancer segment is likely to dominate the market during the forecast period

Factors such as the growing role of companion diagnostics in the personalized medicine treatment for cancer coupled with the increasing utility of biomarkers in the diagnosis of cancer are boosting the market growth.

The pharmaceutical & biopharmaceutical companies segment is likely to dominate the market during the forecast period

The key factors such as the growing use of companion diagnostics owing to their increasing prominence in drug development coupled with the increasing importance of companion diagnostic biomarkers are boosting the market growth.

Have a question for our analyst: https://www.globalinsightservices.com/inquiry-before-buying/GIS10261/

Competitive Landscape

The key players of the companion diagnostics market are F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (US), Qiagen N.V. (Germany), Thermo Fisher Scientific, Inc. (US), Abbott Laboratories, Inc. (US), Almac Group (UK), Danaher Corporation (US), Illumina Inc. (US), bioMérieux SA (France), Myriad Genetics, Inc. (US), Sysmex Corporation (Japan), Abnova Corporation (Taiwan), Guardant Health, Inc. (US), ICON Plc (Ireland), BioGenex Laboratories, Inc. (US), Invivoscribe Technologies (US), ArcherDX, Inc. (US), NG Biotech (France), Q² Solutions (US), Amoy Diagnostics Co., Ltd. (China), Abacus Diagnostica Oy (Finland), Asuragen Inc. (US), SAGA Diagnostics (Sweden), Meso Scale Diagnostics, LLC. (US), and Creative Biolabs (US).

Global Companion Diagnostics Market Segmentation

By Products & Services

  • Assays, Kits & Reagents
  • Software & Service

By Technology

  • Polymerase Chain Reaction
  • Next-Generation Sequencing
  • In Situ Hybridization
  • Immunohistochemistry
  • Other

By Indication

  • Cancer
  • Neurological Disorders
  • Cardiovascular Diseases
  • Infectious Diseases
  • Others

By End User

  • Pharmaceutical & Biopharmaceutical Companies
  • Reference Laboratories
  • Contract Research Organizations
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Request report customization: https://www.globalinsightservices.com/request-customization/GIS10261/

Global Companion Diagnostics Market: Recent Developments
  • May 2021, QIAGEN N.V. (Germany) expanded the therascreen KRAS Kit.
  • May 2020, Medical and Biological Laboratories Co. Ltd., announced that it has launched an in vitro diagnostic kit for the genetic disease Spinal Muscular Atrophy. The MEBCDX AAV9 test kits, was licensed from Quest Diagnostics.
  • May 2019, QIAGEN N.V. launched the therascreen PIK3CA RGQ PCR kit in PIQRAY therapy in the U.S. to enhance its product portfolio in the Companion Diagnostics Market.
  • April 2019, Roche Diagnostics acquired TIB Molbiol Group. This acquisition will enhance Roche’s broad portfolio of molecular diagnostics solutions with a wide range of assays for infectious diseases, such as identifying SARS-CoV-2 variants.
Read More

New York, June 2022: According to a new research study by Global Insight Services (GIS), the compression therapy market is expected to grow rapidly over the next 10 years to reach a value of more than the US $6.8 billion by 2031.

Compression therapy uses controlled pressure on the lower extremities to increase blood flow and efficiency of the lymphatic and venous system. It is the most established and the most important method of treatment for venous and lymphatic diseases. According to an article published by the National Center for Biotechnology Information (NCBI) in 2018, lymphedema is a pandemic and affects approximately 250 million patients across the globe. The increase in the prevalence of vein disorders such as venous leg ulcer, lymphedema, deep vein thrombosis, etc., the increasing geriatric population, and the rise in the adoption of pressure therapies for the treatment of these vein disorders are the key factors likely to drive the compression therapy market growth during the projection period.

Request Sample Pages of this Research Report: https://www.globalinsightservices.com/request-sample/GIS10262/

Global Compression Therapy Market: Key Drivers

The presence of a large target patient population is boosting the market growth of the global compression therapy market. The target population for compression therapy products includes patients suffering from lifestyle-related diseases and vascular diseases, like obesity, diabetes, lymphedema, DVT, and varicose veins. The rising geriatric population across the globe is the primary factor supporting market growth as geriatric individuals are more susceptible to various health conditions. These factors are driving the demand and adoption of various treatment procedures, including compression therapy, among patients. Moreover, compression therapy products are increasingly being preferred as the first line of treatment for major target indications and for post-surgery rehabilitation.

Report Findings

The compression garments segment is anticipated to dominate the market during the forecast period

The factors such as the use of compression garments in a wide range of indications, like varicose veins, edema, DVT, and lymphedema, as well as in the management of several chronic conditions are propelling the growth of the market.

Static compression therapy is likely to dominate the market during the forecast period

The key factors such as the presence of a large target population coupled with increasing incidences of sports injuries and accidents are boosting the growth of the market.

The lymphedema treatment segment is likely to boost the growth of the market

The key factors such as the rising incidence of lymphedema and the high presence of compression therapy products for the treatment and management of lymphedema among end user is boosting the market growth.

Have a question for our analyst: https://www.globalinsightservices.com/inquiry-before-buying/GIS10262/

Competitive Landscape

The key players in the global compression therapy market are DJO Global, Inc. (US), BSN medical (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), SIGVARIS (Switzerland), Paul Hartmann AG (Germany), Sanyleg S.r.l. (Italy), 3M (US), ConvaTec Inc. (US), ArjoHuntleigh (Sweden), Julius Zorn GmbH (Germany), Bio Compression Systems, Inc. (US), Cardinal Health, Inc. (US), and Smith & Nephew plc (UK).

Global Compression Therapy Market Segmentation

By Product

  • Compression Garments
  • Compression Braces
  • Compression Pumps

By Technique

  • Static Compression Therapy
  • Dynamic Compression Therapy

By Application

  • Varicose Vein Treatment
  • Deep Vein Thrombosis Treatment
  • Lymphedema Treatment
  • Leg Ulcer Treatment
  • Others

By Distribution Channel

  • Pharmacies & Retailers
  • Hospitals & Clinics
  • E-Commerce Platforms

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Request report customization: https://www.globalinsightservices.com/request-customization/GIS10262/

Global Compression Therapy Market: Recent Developments
  • May 2021, FDA has given clearance to Koya Medical’s compression therapy system for lower extremities.
  • April 2021, Essity acquired by ABIGO Medical. The acquisition added to the company’s wound care product portfolio.
  • April 2021, DJO acquired MedShape, Inc. This acquisition will strengthen DJO’s portfolio of fracture fixation, joint fusion, and soft tissue injury repair products, which utilize biomaterial technologies designed to improve patient outcomes.
  • February 2021, De Royal signed a USD 1.2 million agreement with Tyndall and RCSI SWaT researchers. The primary objective of this partnership was to transform compression wound therapy.
  • November 2020, Theragun. Inc. had acquired RP Sports, one of the leaders in clinical pneumatic compression. Theragun, Inc. has acquired RP Sport’s groundbreaking clinical technology product line, Recovery Pump.
  • July 2020, AIROS Medical Inc., announced the launch of its updated compression therapy products. The company’s new AIROS 6 Sequential Compression Therapy device and Arm Plus garments had been approved by the FDA for the first time in three years.
  • June 2020, Medi GmbH & Co. KG launched mediven cosy 450, which added to its flat-knit compression portfolio.
Read More
Analysis
Team Work
Consulting Services

Why Global Insight Services?

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

CONTINUOUS
IMPROVEMENT
24 X 5
SUPPORT
CUSTOMER
OBSESSION