North America Led the Cell & Gene Therapy Manufacturing Services Industry

According to a statement by a market research institution, P&S Intelligence, the cell & gene therapy manufacturing services market generated a value of USD 5,151 million in 2022, and it will reach USD 20,164 million, propelling at an 18.60% compound annual growth rate, by 2030.

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The growth in the industry is credited to factors such as the numerous therapy development activities, the high cases of cancer as well as other target illnesses, and increased pharmaceutical research and development expenses.

In 2022, the cell therapy category accounted for a larger revenue share in the industry, of approximately 62%. This is primarily attributed to the extensive adoption of cell-based therapy for the clinical investigation of cardiovascular illnesses, because of rigorous pre-clinical studies of phenotypic efficacy, cell biology, immunology, and mechanism of action.

In 2022, the cell & gene therapy manufacturing services market was led by North America, with a revenue share of approximately 49%. This is because of the growing number of product launches, the rising emphasis on the treatment of rare diseases, the mounting prevalence of cancer cases, the existence of key industry players, and the increasing number of clinical trials in the region. Furthermore, advancements in technology in the region are boosting the requirement for gene therapies.

Europe accounted for a significant share of the industry. Approximately one-third of the overall population of 15 years and above are suffering from at least two chronic illnesses in the region, due to unhealthy diets, mounting alcohol consumption, and growing habits of smoking in the region.

Hence, with the high prevalence of cancer and other targeted illnesses, numerous therapy development activities, and increasing pharmaceutical research and development expenses, the global cell & gene therapy manufacturing services industry will grow significantly in the years to come. 

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Global Lung Cancer Surgery Industry Will Reach $7.79 Billion by 2030

The lung cancer surgery market was USD 5.65 billion in 2022, and it is likely to propel at a rate of 4.10% from 2022–2030, to reach USD 7.79 billion by 2030, as per a report by P&S Intelligence. The rising incidence of lung cancers, increasing tobacco smoking by younger generation, growing elderly population, and reimbursement availability are driving the growth of the industry.

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The thoracotomy category had the larger share of revenue in 2022, of over 62%. The dominance of this category is mostly credited to the increasing number of lung cancer surgeries, such as lobectomy, sleeve resection, segmentectomy, and pneumonectomy.

As per the Journal of Thoracic Disease, around 222,520 surgical operations are conducted every year for lung cancer. The lobectomy accounts for a 68.2% share, and it is the most-common thoracic surgery. Wedge resection surgery has an 18.1% share.

Moreover, the use of powered surgical instruments is rising because they allow for quicker procedures with outstanding functionality and reliable performance compared to the manual instruments. 

Moreover, the key players are laying emphasis on launching new technologies, for meeting the growing demand for  advanced instruments with high flexibility and usability, the requirement for which is burgeoning in lung cancer surgeries.

Due to the rising number for lung cancer surgeries and funding from governments, a lung cancer surgery market growth of 4.6% is projected in the surgical instruments category in the near future. It is because every surgery requires some kind of instruments, such as cautery, scalpels, retractors, suction pumps and tubes, forceps, scissors, clamps, and IV needles and tubing.

APAC will have the fastest growth in the near future because of the rapid healthcare infrastructure development, increasing funding by government and initiatives for raising awareness, and growing medical tourism industry in India and China.

Hence, with the rising elderly population and the rising number of awareness campaigns, the demand for  lung cancer surgeries will grow considerably in the years to come.

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Healthcare Bioconvergence Market To Reach USD 216 Billion by 2030

The healthcare bioconvergence market was valued at USD 122 billion by 2022 will advance at 7.5% CAGR during the projected period, to touch USD 216 billion by 2030.

The market is on the rise due to the increasing count of elderly people and the growing usage of stem cells for regenerating organs, tissues, and injured cells. 

Moreover, the fondness of end users for combinations of cutting-edge technologies, including ML, robotics, ergonomics, and AI, with cloud computing and biology, will come in handy toward the development of the industry in the years to come.

The drug discovery category dominated the industry with a share of approximately 22%, in 2022, because of the growing burden of CVDs, cancer, and CNS related disorders, increasing costs of medical treatments, and the patent expiry of numerous medications. 

As per the several government records, in the U.S., about 1.9 million new cancer cases were documented and about 609,360 deaths were resulted by it in 2022.

Pharma and biotech companies are growing considerably, credited to the quickly growing count of clinical trials and the increasing acceptance of advanced techniques by them for development of drugs. These companies are targeting to bring medicines faster, more efficiently, and at lesser costs, accompanied by focusing on patient safety. 

Furthermore, extensive research is conducted on mRNA’s pertinence in treating non-infectious diseases, for example cancer. 

The Fourth Industrial Revolution is altering the way treatment and diagnosis are done and hastening the procedure of the new drug discovery. The acceptance of IoT and AI, is powering this revolution. Amidst this, healthcare is converting into a cyber– physical system with, IoT, RFID, medical robots, intelligent sensors, and many other objects and technologies, which are now also armed with cloud computing, big data analysis, and decision support methods.

Europe is leading the healthcare bioconvergence market, as stated by a market expert at P&S Intelligence and this will continue by the end of this decade, with USD 73 billion.  The region is growing because of the existence of important, medical centers, research institutes, and hospitals. 

For example, in February 2021, LifeArc, U.K.-based medical research firm reinforced the work of the Gen OMICC COVID-19 project by proclaiming funding of USD 5.74 million. The funding was to assist the project in sample gathering and handing, patient enrollment, along with patient bioinformatics analysis.

Furthermore, Europe has a well-established medical industry, propelling the demand for new-generation healthcare technologies.

Due to the increasing use of stem cells for regenerating tissues, organs and injured cells, the demand for healthcare bioconvergence will continue to grow in the years to come, all over the world.

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Electric Trucks are Revolutionizing the Road in the U.S.

The automotive industry in the U.S.  is undergoing a remarkable transformation in recent years, as the push for greener and more sustainable transportation increases. There has been a significant rise in the use of electric vehicles in the country.  With electric cars garnering substantial attention, the focus is now shifting toward electric trucks.

An electric truck can be any type of truck, semi-truck, heavy-duty commercial, or military truck driven by batteries designed to carry payloads, transport cargo, or perform other utilitarian work.

The Increasing Requirement for Electric Trucks

With environmental concerns and carbon emission reduction becoming increasingly vital, the requirement for electric trucks in the U.S. has been gaining momentum. They offer several advantages over their conventional counterparts, such as reduced greenhouse gas emissions, decreased fuel costs, and improved efficiency. This combination of environmental sustainability and economic benefits has attracted the attention of stakeholders, including consumers, fleet operators, and policymakers toward electric trucks.

The U.S. government has taken numerous initiatives to encourage e-mobility and also placed stringent emission standards on fossil fuel-powered commercial vehicles.

The industry of electric trucks in the U.S. will reach USD 15,084.3 million by the end of this decade. 

Environmental Benefits

Electric trucks have revolutionized the transportation industry by significantly reducing greenhouse gas emissions. Unlike traditional diesel-powered trucks, which emit large amounts of carbon dioxide and other pollutants, electric ones produce zero tailpipe emissions. Transitioning to electric trucks can contribute toward breathing cleaner air and reduce the effects of climate change. 

Electric trucks also have the capability of running silently because they run on an electric motor instead of an engine. Therefore, reducing noise pollution. Additionally, e-vehicles are virtually silent, and they help in reducing noise pollution.

Low Maintenance Cost

Electric trucks have a relatively low maintenance expenses as they don’t have as many moving parts as an internal combustion automobile. The requirement of servicing for electric trucks is lesser than the traditional diesel or gasoline trucks. Thus, the yearly expenditure of running an e-truck is significantly low.

Use of Electric Trucks in Logistics

The transportation industry is shifting toward e-trucks to advance efficiency in delivering goods. The progression of batteries and the new motors can promote the adoption of e-vehicles in urban logistics to deliver orders to home or physical points of sale. 

With not consuming fossil fuels, these automobiles can reduce logistics expenses.

The increasing logistics footprint and notable development in retail, third-party logistics, and e-commerce are boosting the adoption of such environmentally friendly commercial automobiles in the nation.

Additionally, with the rising requirement for quicker and more convenient deliveries at the doorstep, the necessity for effective supply chains for logistics services is increasing.

Hence, it is because of the low maintenance and operation cost of electric trucks, reducing cost of batteries, and a number of supportive initiatives taken by the government, the requirement for electric truck will continue to increase in the years to come in the U.S.

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Rotator Cuff Injury Treatment Industry Is Dominated by North America

The total revenue of the rotator cuff injury treatment market was USD 1,098.4 million in 2022, which will rise at a rate of 5.1% in the years to come, to reach USD 1,633.5 million by 2030.

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Surgical treatment had the largest share of revenue in the past of about 55%, and it will maintain its dominance in the years to come. This is because of the high frequency of rotator cuff injuries and the promising medical compensation policies for their treatment.

Moreover, the increasing consciousness of the assistances of an arthroscopic repair, such as, its low risk of complications, fast recovery, and low frequency of post-operative infections, will contribute significantly to the growth of this category.

Moreover, the physiotherapy category will observe a considerable growth in the future. This is because athletes frequently use this as the first method for managing injuries. Moreover, the surge in the elderly population is a major factor powering the category growth, as aged people are more inclined toward this treatment.

North America is the largest contributor to the rotator cuff injury treatment market with around 45%, as per P&S Intelligence. This has a lot to do with the continuing R&D, increasing number of product launches, and commercialization of state-of-the-art treatments for rotator cuff injuries. 

Furthermore, the growing funding and number of partnerships amongst major companies, promising regulatory setting for rotator cuff surgeries, along with the supportive policies of the government for the sale of related goods boost the industry. Besides, the considerable engagement of the people in sports will let the continent remain on top during the years to come.

Because of the increasing cases of shoulder injuries in the world, the demand for rotator cuff injury treatment will continue to rise by the end of this decade.

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North America is Dominating Contract Research Organization Services Industry

In 2022, the global contract research organization services market had a total size of USD 64.60 billion, and it is projected to hit USD 142.56 billion by 2030, progressing at a rate of 10.4% from 2022 to 2030, according to a research report by a market research company P&S Intelligence.

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This development can be credited to the high price of in-house medication growth and technological improvements in clinical trials, and such services help in pharmacovigilance, trial planning, site access, data analysis, and hospital staffing.

As people age, more illnesses arise as the body declines and numerous health problems initiate, and individuals typically tend to become more disposed to illnesses as the immune system inclines to become slower. As per the government reports, in the U.S., around one in five Americans will be old 65 years or more by 2040.

North America is dominating the contract research organization services market, and the continent is also projected to be on the leading spot throughout the forecast period, with a worth of USD 74,134 million.

This can be credited to the high healthcare investments, enormous expenditure in interventional studies, the growing count of chronic illnesses armed with a huge count of patients suffering from such diseases, and governments are progressively investing in this field in the continent.

Moreover, the continent has high personal revenue, because of which the requirement for technologically progressive items has augmented and individuals are able to invest widely in healthcare services. Also, there is robust healthcare awareness among people and high expenditure for the growth of new drugs.

Hence, the high price of in-house medication growth and technological improvements in clinical trials, and such services help in pharmacovigilance, trial planning, site access, data analysis, and hospital staffing.

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Biological Safety Cabinet Market IS Growing Considerably in Europe

The total size of the biological safety cabinet market was USD 276.8 million in 2022, which will power at a CAGR of 7.9% by the end of this decade, to touch USD 507.1 million by 2030.

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In emerging countries, governments are investing profoundly for enhancing the amenities for manufacturing biologic and pharma drugs, set up new labs, and offer better healthcare. 

The developing nations are also altering their policies for the expansion of their healthcare infra budget, for encouraging the innovation of pharma products, for example vaccines.

The class II category had the largest revenue share, about 50%, in 2022, and it will maintain its dominance in the near future as well. This is because of the high acceptance of class II biosafety cabinets since they offer strong protection to the sample, along with the user and the surrounding environment.

North America dominated the biological safety cabinet market, with about 45%, as per a report published by a market research firm P&S Intelligence, and it will grow considerably in the future, because of the substantial R&D activities in the pharma and biotech industries, accompanied by the augmented risk of communicable diseases.

Furthermore, there will be a substantial growth in  Europe, with the progression of the healthcare infra and favorable policies for taking safety initiatives for their staffs and the people. Also, there is new R&D infra for boosting the growth of region which, will power the industry.

APAC has a growing prevalence of communicable diseases; therefore, reassuring the requirement for cleanroom tech solutions, such as biological safety cabinets in healthcare surroundings. 

Furthermore, the growing acceptance of cleanroom solutions for the production and packing of biotech products is supporting the industrial growth.

Because of the rising prevalence of chronic diseases all over the world, the demand for biological safety cabinets will rise even more in the future.

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