Stoma Care Industry Boom Credited to Rising Elderly Population

As stated by a market research firm, P&S Intelligence, the size of the stoma care market was USD 2,732.1 million in 2022, and it will grow at a rate of 4.5% in the years to come, to reach USD 3,882.1 million by 2030.

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The increasing occurrence of numerous inflammatory bowel conditions, such as diverticular disease, Crohn’s disease or ulcerative colitis, fecal incontinence, and colorectal and intestinal cancer, accompanied by the increasing healthcare spending, and the advent of novel products for stoma care are driving the growth of the industry.

Ostomy bags will grow at a rate of 6% in the near future. This has a lot to do with the escalation of temporary along with permanent stoma surgeries amongst people suffering from IBDs and large and small intestine cancers, and tech advancements in this type of bag, required for stoma surgeries.

Furthermore, continuous improvements made in existing products according to the necessity of patients by key players and the initiation of effective and apt pouching systems and associated accessories serving to improve the quality of life of ostomy patients will drive the industry. 

The colostomy surgery is dominating the stoma care market. This is chiefly because of the increasing frequency of colon cancer and the snowballing colostomy procedures taking place.

Furthermore, the obtainability of numerous kinds of colostomy bags, for example closed system or drainable bags, is the leader of the market.

Hospitals and specialty clinics were the major users. This is because of the fact that a large patient volume prefers hospitals and specialty clinics when suffering from any pain or inflammatory ailments and the upgradation of healthcare infra by government and private players. 

Moreover, the increasing count of facilities, the rising acceptance of cutting-edge technologies by large and small specialty clinics and hospitals, and the growing launches of advanced techs are fueling the growth of the market.

Europe had the largest revenue share, of about 40%, and it will maintain the position in the years to come. 

This has a lot to do with the increasing incidence of inflammatory bowel diseases, strong healthcare infra, the existence of foremost industry players and compensation policies for stoma care surgeries by private insurance companies, and the increasing government spending. 

Furthermore, Germany holds major revenue in Europe. This is because of the increasing requirement for ostomy pouches, fixtures, and services at a high speed. Also, the increasing disposable income is creating a high requirement for stoma surgeries.

It is due to the fact that, there is an increasing count of elderly population all over the world, the demand for the stoma care treatment will continue to increase in the near future.

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Growing Molecular Quality Controls Market Customer Base at Accredited Clinical Laboratories

The total size of the molecular quality controls market was $191.2 million in 2022, which will reach $313.7 million by 2030, propelling at a rate of 6.4% in the years to come, as per a statement by P&S Intelligence.

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The independent controls category had the largest share of about 40% in 2022. This is due to the fact that they are produced independently of calibrators, instruments, and reagents, and tests have the supreme sensitivity rate as a result of their tremendously precise, unbiased, and independent valuation of a testing system's or technique's performance.

The single-analyte controls category had a share of over 60%, in 2022, and it will maintain the same in the years to come. This is for the reason that hospitals often use singleplex assays; and with the use of single-analyte, they have benefits for example, easy investigation and understanding and decreased chance of cross-responsiveness, amongst others.

Multi-analyte will witness stable growth rate, about 7%, in the years to come. This can be owing to the progressions in tech and the expansion of new multi-analyte and multi-instrument controls. Clinical labs can save money by the use of these state-of-the-art devices, which integrate frequent instrument-specific controls into a single instrument. 

Additionally, by doing away with the necessity for separate quality control actions for each analyte, these controls are responsible for less time consumption. The diagnostic labs dominated the molecular quality controls market, about 35%, in 2022. 

This is due to the fact that the existence of numerous accredited labs in dissimilar regions, which concentrates in services with the use of molecular technology; QC procedures are employed more frequently; regulatory actions are happening more regularly; molecular diagnostics are becoming more expensive; and Alzheimer, diabetes, and cancer cases are increasing, leading to the opening up of numerous labs every year.

North America dominated the industry with about 45%, in 2022. This is because of the high incorporation of leading-edge infra, the enhanced quantity of diagnostic facilities, and the improved count of authorized clinical labs in the region. 

Furthermore, the cutting-edge medical facilities in Canada and the U.S., the existence of top manufacturers, and easy access to improved products and techs drive the regional market. In North America, the U.S. has a higher revenue due to large patient population.

Europe follows North America. This is chiefly credited to the snowballing cancer research and related biomarkers and the increasing cancer cases. A study has claimed that there will be a boom in cancer prevalence in Europe, because of the increasing elderly population, as they are prone to long-lasting ailments.

It is because of the increasing count of accredited clinical labs, the demand for molecular quality control will be on the rise in the years to come. 

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North American Will Dominate the Data Center Market

 The total value of the data center market was USD 263.34 billion in 2022, and it will rise at a growth rate of above 10.9% in the near future, to reach USD 602.76 billion by 2030, according to P&S Intelligence.

The major reasons behind the growth of this industry are exponential increase in data. Thus, the requirement for these data centers is surging because of the growing need for mobile, analytics, cloud and cloud services globally. In recent years the due to the extensive growth of social media channels, the need to new data centers has immerged to store gathered information.

IT sector generated highest revenue for data centers industry, as it comprises storage, network and server infrastructure, which indeed is the backbone of these services. It is also projected to continue its dominance in coming years. these days, companies are leaning more toward well-equipped centers to allow improved data management as data analysis has become very essential for business growth. Such reasons will contribute in the growth of this category in coming years.

The IT and telecom industry is projected to dominate the market in years to come. Due to the wide acceptance of enhanced technologies, like cloud computing, the internet of things and artificial intelligence vast amount of data is being produced. This data comes from personnel records, server logs, network equipment, mobile internet usage, billing activities, and social channels. 

To meet this huge demand of storing massive data businesses operating in the IT and telecom industry are renting third-party spaces. such methods facilitate IT and telecom businesses to manage and store huge amount of data and increase their storage size as per needed.

The massive rise in the data generation is one of the biggest reasons behind the growth of data center industry. Over 64 zettabytes of data were generated in 2020. And experts are projecting that by 2025 around 10 times more data will be created in compare to 2017. Over 2.5 quintillion data is created on daily basis.  

North America is dominating the market and it will hold the same position throughout the forecast period, with a value of USD 191.80 billion.

Moreover, North American spends a generous amount in the R&D, which leads to the formation of advanced data centers that are more technologically enhanced and efficient in order to managing information. North America also has highly extensive advanced, and well-organized technological structure.

Hence, the booming IT sector and extensive growth of social media platforms will derive the data center market in the coming years.

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Real World Evidence Solutions Market Is Dominated by Service Category

As per a report by P&S Intelligence, the real-world evidence solutions market generated revenue of USD 1,560 million in 2022, and it will witness a compound annual growth rate of 12.40%, to reach USD 3,974 million by 2030.

The growth of the industry is due to the increasing number of clinical trials, rising research and development activities for medical devices and drugs, and shifting focus from volume-based to value-based healthcare. 

Furthermore, RWE and RWD are used to advance protocol designs, with the aim of decreasing the number of expensive protocol revisions. These solutions can also be used in creating synthetic control arms, which will fasten trial execution and decrease the overall cost.  

Additionally, the rapid advancement in volume, generation speed, and variety of data and the necessity for quick insights are increasing the demand for the right technologies for RWE program implementation. Hence, numerous life science companies are implementing cloud technologies due to the speed, scalability, flexibility, and safety they offer.

In 2022, the services category dominated the real-world evidence solutions market with a more than 56% share, and it will remain dominant throughout this decade. This is credited to the growing need for decrease in the delays in drug development and the availability of more healthcare information that needs to be analyzed.

The data sets category is expected to grow at a significant rate in the near future. This is mainly because of the growing attention to gain more insights into epidemiology and the increasing amount of information generated in the healthcare sector.

The pharmaceutical and medical device companies category will grow at the highest CAGR, of 12.9%, in the years to come. This can be attributed to the need for the elimination of the costly drug recalls and drug performance evaluation in real-world settings and the increasing importance of real-world evidence (RWE) analyses in drug support. 

Additionally, the pharmaceutical sector is increasingly using real-world evidence to meet the governing compliance necessities, along with the payer requirements related to health economics and outcomes research (HEOR). 

The APAC industry will grow at the highest CAGR, of approximately 14%, in the near future. The growth is mainly credited to the increasing incidence of chronic diseases, rising demand for advanced healthcare services, existence of various contract research organizations, growing number of clinical trials, strong support of governments for the adoption of RWE studies, and increasing elderly population. 

It is because of the increasing research and development expenditure, rising demand for clinical and preclinical services during the drug development process, and increasing incidence of chronic diseases that the real-world evidence solution demand will considerably grow in the coming years.

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Dedicated Outdoor Air System Market Is Driven by Commercial Category

The dedicated outdoor air system market was USD 3,849 million in 2022, and it is projected to reach USD 7,447 million by 2030, at a rate of 8.60% during the forecast period as per a report by P&S Intelligence. 

This growth of the industry is credited to the growing acceptance of these systems in commercial and residential applications, the growing attention to ideal environment, and the mounting HVAC equipment regulations by the government.

A dedicated outdoor air system is a part of the HVAC system and its main objective is to supply sufficient outdoor air. It also separates the exterior air from the interior air which regulates inside temperatures of the buildings. 

Numerous laws are implemented to control HVAC equipment and increase energy efficiency. The implementation of HVAC standards has resulted in the growth of dedicated outdoor air system market.  

The industry, based on capacity is categorized into greater than 60 tons, 40–60 tons, 20–40 tons, and less than 20 tons. The highest growth rate is projected in the 40–60 tons category, propelling at a rate of 9.1%, during the forecast period. With a multizone capacity and extra features, the 40–60 tons capacity offer 100% exterior air proficiency and energy efficiency.   

The industry, based on implementation is categorized into retrofit and new construction. Among these, the largest share of, more than 60% was held by the new construction category. This is credited to the growing investment in the commercial sector by major developing countries. 

On the other hand, the fastest growth is projected in the retrofit category. 

The industry is dominated by the commercial category. This is credited to the use of air-controlling systems to cool and heat indoor air in commercial areas. These systems improve the quality of air in commercial buildings. 

On the other hand, the highest growth rate of approximately 9%, is projected in the residential category. This can be credited to the rising disposable income around the world. 

North America held a significant share in 2022. This is because of the existence of various developed businesses, commercial spaces, and medical facilities, where the requirement for dedicated outdoor air systems is high; the massive demand from residential sectors; and the presence of key players, in the region.

Whereas, APAC will have the highest CAGR, of 9.5%, during the forecast period. This can be credited to the rising population, changing climatic conditions, growing construction activities, and friendly government policies. 

Furthermore, the needs for these systems are high in the commercial and residential sectors, with significant demand in Japan and China.   

Due to the rising awareness about the importance of indoor air quality, and the growing adoption of these devices from commercial and residential sectors, the industry will grow significantly in the coming years.

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North America Is Dominating Recombinant Proteins Industry

In 2022, the recombinant proteins market was worth around USD 1,367.3 million, and it is projected to advance at an 11.2% CAGR from 2022 to 2030, hitting USD 3,203.7 million in 2030, according to P&S Intelligence.

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This development can be credited to the growing partnership between the pharmaceutical industry and universities and the increasing occurrence of primary communicable illnesses and hereditary disorders. Furthermore, the rising R&D on biological drugs and growing government expenditure for this purpose are projected to drive market growth.

The increasing occurrence of several rare syndromes, including neutropenia, multiple sclerosis, dwarfism, anemia, and cerebral apoplexy, is fuelling the demand for medications based on recombinant proteins.

Furthermore, such agents are utilized in the betterment of innovative treatments for serious chronic disorders, such as cardiovascular diseases, viral diseases, endocrine diseases, and cancer. The hike in the rate of these conditions is projected to boost the demand for recombinant protein drugs in the future as well.

The growth factors and chemokines category led the recombinant proteins market and is also projected to experience, approximately 12% CAGR, in the coming future. This can be ascribed to the utilization of growth factors and chemokines in numerous research on immunology, COVID-19, cancer, HIV/AIDS, and neurobiology.

In 2022, Biologics had the largest market share, approximately 60%, and is expected to grow at the highest pace in the coming few years. This is mainly because of the rising leaning of pharma firms and biopharma toward escalating their biosimilars and biologics research and development efforts and product pipelines, making innovative technologies, and enhancing the skill of bioprocessing.   

In 2022, North America led the market, generating a revenue share of approximately 45%, mainly because of the increasing occurrence of communicable and chronic syndromes and supportive government steps. Moreover, the increasing need for these items in the R&D studies conducted by the KEY players is driving the industry in the continent.

The APAC industry is projected to grow at the fastest pace in the coming few years. This can be ascribed to the widespread development in pharmaceutical contract development and production efforts in the past few years.

Furthermore, the increasing populace and its rising need for better accessibility to drugs; and the reduced cost of biopharmaceuticals, with the introduction of lucrative generics are leading to the development of the market in the region.

Additionally, rising GDP per capita, government-supportive healthcare steps, and rapid urbanization rate have extended the potential for the acceptance of recombinant proteins in the region.

Hence, the growing partnership between the pharmaceutical industry and universities and the increasing occurrence of primary communicable illnesses and hereditary disorders, are the major factors driving the recombinant proteins market.

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Genome Editing Market Will Grow the Fastest in Asia-Pacific

As stated by a market research firm, P&S Intelligence, the total size of the genome editing market was USD 5,412.9 million in 2022, which will touch USD 20,397.8 million by 2030, powering at a rate of 18% in the years to come.

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There is a wide variety of features of genomics, for example agribusiness, drug research, forensics, veterinary sciences, and the identification of human genetic abnormalities, that are receiving strong focus from government as well as private biotech agencies. With NGS, the usage of genomics in forensics has significantly increased.

Furthermore, the usage of genome editing in marine engineering for the formation of nutraceuticals from algae is one of the developing trends. and Forensic sciences and personalized medicine are two other important areas where genomics is proving significant.

Based on application, the genome editing market is categorized into animal genetic engineering, cell line engineering and plant genetic engineering, amongst which the cell line engineering had the largest share, of about 50%, in 2022.

This growth has a lot to do with the growing use of cell line engineering in stem cell-based research. As a result of the rapid progressions, cell line engineering is extensively used for iPSCs, which help in changing the cell genetic content. The advent of cutting-edge gene editing methods, including CRISPR/Cas, ZFNs, and TALENs, has allowed profitable and suitable cell engineering.

Furthermore, the cell line development application is progressing because of the increasing requirement for the enhanced expression of therapeutic proteins, accompanied by its appropriateness for the anticipated post-translational alterations.

North America dominated the genome editing market, about 45%, in 2022. Furthermore, because of the expansion of gene therapy, increasing usage of genetically adapted crops, and easy obtainability of research funding, the region will contribute significantly to companies providing services and tools for gene editing.

Furthermore, the U.S. leads North America, chiefly because of the increasing private and government funding for genomics research.

Furthermore, the growing cases of rare disorders in Canada and the U.S. is pushing the market in North America.

The NIH say that about 25 to 30 million Americans suffered with over 7,000 rare ailments. This implies that 1 in 10 Americans suffer from rare ailments. Therefore, the growing requirement for emerging effective drugs drives the acceptance of novel DNA editing tools in these nations.

Also, the increasing count of research activities in genomics in Japan, India and China and the increasing investments made by private and public  organizations for gene editing purposes are the key factors pushing the market advance in the in the APAC.

Due to the increasing pace of tech advancements in genomics, it has powered the demand for genome editing all over the world.

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