Vascular Access Devices Industry is Led by North America

The vascular access devices market is estimated to touch USD 6,100.6 million in 2023, which will increase to USD 9,843.5 million, growing at a 7.2% compound annual growth rate, by 2030.

The growth of this industry is because of the mounting elderly populace, coupled with the growing occurrence of cancer as well as various other chronic ailments. Chronic ailments are already a main healthcare problem in low- & middle-income and high-income nations.

Some of the most widespread of all are diabetes, autoimmune diseases, and cancer, which need diverse intervention degrees. Immunotherapy medicines have the potential to lessen the effect of such chronic ailments, which increases the acceptance of venial catheters.

In 2023, the hospitals category is dominating the industry, with a 55% share. With the increasing dialysis usage because of the widespread occurrence of diabetes worldwide, the utilization of these devices for blood collection or infusion and in transferring nutritional fluid remains to surge at hospitals.

Overall, the increasing chronic ailment incidence is boosting the volumes of hospitalization, in turn, encouraging the adoption of vascular access devices. As a result, in the past few years, the world has observed a substantial increase in the count of hospitals

North America is the largest contributor to the industry in 2023, with over 45% share. This can be mainly ascribed to the existence of a large count of players as well as the swift acceptance of developed medical equipment in this region. 

In addition, the advantageous framework for healthcare expense reimbursement enables patients to easily seek quality healthcare.

With the surging aging population and rising incidence of cancer & various other chronic ailments, the vascular access devices industry will continue to progress in the coming years.

Read More

DNA Synthesizer Market Led by Biotech Companies

The DNA synthesizer market was valued at USD 266.3 million in 2023, which will reach USD 686.1 million by 2030, rising at a rate of 14.6% by the end of this decade. This is attributed to the rising occurrence of chronic diseases, growing requirement for more-personalized therapies, expanding acceptance of gene therapy, and growing investments in R&D.

Recently, there has been a drastic increase in the prevalence of severe chronic ailments, for example immunological ailments, cancer, and genetic illnesses, all over the globe.

Nearly 50,000 congenital disorders that are an outcome of a mutation of a single gene are recognized by scientists. This is powering the acceptance of gene therapy, as it can cure severe ailments that were previously untreatable, and the outcomes are better than expected. For example, numerous people have already regained their vision with the help of gene therapy, after suffering from hereditary, gradual blindness.

Based on end user, biotech companies led the industry, with a share of 50%, in 2023. This is due to the growing biotech-related research, powered by the increasing requirement for biologic drugs, for example vaccines.

Essentially, the increasing incidence of chronic ailments has powered regional administrations to spend on life science projects so that scientists can do more-efficient treatment, substantial investments but also tech progressions, which has boosted the count of novel therapeutics becoming obtainable to patients at a global level. 

It is because of the increasing acceptance of gene therapy all over the world, the demand for DNA synthesizer is on the rise. This trend will also continue in the years to come as well.

Read More

Biomarkers Industry Is Dominated by North America

The biomarkers industry was USD 54.5 billion in 2022, and it will reach USD 132.8 billion, advancing at a 11.8% CAGR, by 2030.

To learn more about this report: https://bit.ly/3OKAPQo

The growth in the industry is attributed to the surging incidence of chronic illnesses and advancements in the technologies utilized in the production of biomarkers and biomarker-based diagnostic tests, including biomarker signatures, which are enabling neurological illnesses more treatable.

In 2022, the consumables category, based on product type, held the largest share of the industry, of 70%. This is because of the increasing requirement for kit-based products for biomarker testing and the regular buying of consumables.

The software category is expected to witness the fastest growth in the years to come. This is because of the speedy acceptance of software-based methods in diagnostic labs for early and accurate disease diagnosis. Software-based biomarkers are particularly utilized in drug discovery, pharmacodynamic evaluation, and gene sequencing.

In 2022, North America held the largest share in the industry, of approximately 40%, and it will further advance at a robust rate throughout this decade. This is because of the increasing utilization of such markers in personalized drugs and numerous business development strategies implemented by the players, including collaborations and partnerships with major pharmaceutical and biotechnological businesses in this continent.

APAC will observe the fastest growth in the years to come. The surging incidence of cardiovascular and cancer illnesses has resulted in the increasing requirement for such agents in the continent for their detection.

With the increasing incidence of chronic illnesses and advancements in technologies, the demand for biomarkers will continue to increase in the years to come.

Read More