Medical Equipment Maintenance Market is Driven by Developments in Medical Devices

The medical equipment maintenance market was USD 48.9 billion in 2023, and it will touch USD 98.9 billion, powering at a 10.7% compound annual growth rate, by 2030.

To learn more about this report: 

The growth in this industry is because of the enhancements in medical devices, increasing consciousness regarding preventive maintenance, and strict regulatory environments all over the world.

The imaging category, on the basis of type, will lead the industry throughout this decade. This can be mainly because of the extensive utilization of imaging equipment for different medical conditions, such as neurological disorders and cancer.

The preventive and predictive category, on the basis of service type, is likely to propel at the fastest compound annual growth rate, in the years to come. This can be mainly because of the extensive range of services provided by service providers in the category, which produces huge expense savings for public- and private-sector establishments.

North America was the largest contributor to the industry in 2023, and it will remain leading in the years to come. This can be mainly because of the surging aging populace, increasing burden of ailment, growing acceptance of medical imaging systems, and rising count of hospitals.

Asia-Pacific is likely to observe the highest compound annual growth rate in the years to come. The key factors boosting this progression would be the surging incidence of chronic illnesses that need medical devices for early diagnosis and the rising count of diagnostic tests conducted in this region.

It is because of the continuous progression of medical devices, the medical equipment maintenance industry will continue to progress in the years to come.

Read More

Transplant Diagnostics Market was Led by the Molecular Assays Category

The transplant diagnostics market was valued at USD 4,686.7 million in 2023, and it will grow at a rate of 7.5% by the end of this decade, to touch USD 7,713.5 million by 2030.

To learn more about this report: https://bit.ly/3vek5es

This is attributable to the growing requirement for organ replacement procedures, the growing requirement for diagnostic procedures before organ replacement, and the powering occurrence of communicable diseases. 

Also, the number of people with final-stage organ failure is on the rise, and because of the development in organ transplantation procedures, a high number of patients can now access these surgeries.

On the basis of technology, molecular assay led the industry with a share, of 65%, in 2023, and it will continue to dominate in the future as well.

The diagnostics category dominated the transplant diagnostics market, with a share of 70%, in 2023, and it will continue like this in the future. This is credited to the increasing occurrence of ailments.

Furthermore, the diagnostic category is divided into pre-transplantation and post-transplantation diagnostic. Additionally, for transplant processes, all relative diagnostic tests will be done prior to the transplant to see the compatibility of the transplant for example blood profiling, histocompatibility testing, and communicable disease testing.

North America had the largest share, of 50%, in 2023, and it will continue like this in the future. This has a lot to do with the high acceptance rate of cutting-edge techniques and analytic tools, high healthcare spending, the obtainability of skilled experts, and the extensive use of soft tissue transplants, stem cell therapies, and tailored medications.

Furthermore, the growing count of organ replacements, the increasing consciousness of transplantation, the growing incidence of communicable ailments, and the rising elderly populace susceptible to chronic ailments are powering the industry.

There is an increasing number of organ transplants happening around the world, and this will power the demand for transplant diagnostic solutions. The trend will continue in the years to come as well.

Read More

North America Is Dominating Clinical Trial Biorepository & Archiving Solutions Industry

In 2023, the global clinical trial biorepository & archiving solutions market generated revenue of USD 3,985.2 million, which is expected to grow at a compound annual growth rate of 8.2% to reach USD 6,916.6 million by 2030.

To learn more about this report: https://bit.ly/3RQt6TM

This growth of the market can be credited to the rising count of companies offering an extensive variety of services and the growing trend of outsourcing storage and other cold-chain processes so that the essential resources can concentrate more on medicinal development.

Furthermore, storage and transport techs are constantly advancing, which, combined with the l regulatory needs on bio-storage and the present trends in this space, can enormously help in saving money, time, and effort.

The clinical trial biorepository & archiving solutions industry is rising quickly because of the improvement in the obtainability of less expensive devices to compile data, for streamline reporting, using software that provides the functionality of a combined laboratory information management system made to aid in managing laboratory samples and information.

In 2023, the North American region dominated the clinical trial biorepository & archiving solutions market with the largest share of 55%, and the region is also estimated to continue with the dominance in the future. This is mainly because of the rising number of clinical trials, the presence of global market leaders, and the usage of progressive techs in the region. Furthermore, the presence of a huge count of service providers, CROs, and biopharmaceutical businesses enhances the market growth potential.

Hence, this growth of the market can be credited to the rising count of companies offering an extensive variety of services and the growing trend of the outsourcing of storage and other cold-chain processes, so that the essential resources can concentrate more on medicinal development.

Read More

Unveiling the Growth Potential: Exploring the Humic Acid Market

In the world of agriculture and horticulture, humic acid has emerged as a key player, fostering soil fitness and crop productiveness. This natural compound, derived from decayed natural matter, has won significant interest in recent years. Let's delve into the dynamic landscape of the humic acid market, exploring its current traits, packages, and the factors using its boom.

The humic acid market revenue will stand at an estimated USD 757.0 million in 2023. Moreover, from 2024 to 2030, it will grow at a CAGR of 11.9% and reach USD 1,632.9 million by 2030.

Understanding Humic Acid:

A complex mixture of organic materials resulting from the decomposition of plant and animal material, humic acid is a fundamental constituent of humus. Humic acid, widely known for its capacity to increase soil structure, fertility, and nutrient absorption, is becoming an essential ingredient in today's agricultural production.

Market Dynamics:

The humic acid market is experiencing robust growth, driven by a confluence of factors. One 

of the primary catalysts is the increasing awareness among farmers and agriculturists about the benefits of using humic acid in soil management. As sustainable agriculture practices gain traction, humic acid's organic nature, and soil-friendly attributes position it as a preferred choice for fostering crop growth.

Moreover, the escalating demand for meal production to satisfy the wishes of a developing worldwide populace has intensified the point of interest in optimizing agricultural practices. Humic acid's function in enhancing nutrient availability, water retention, and normal soil fitness aligns with the search for higher crop yields and sustainable farming methods.

Key Applications:

The packages of humic acid extend beyond traditional agriculture, encompassing a variety of sectors. In addition to soil amendments, humic acid unearths work in animal feed dietary supplements, foliar sprays, and environmental remediation. Its versatility has contributed to its large adoption, making it a multi-faceted answer for diverse challenges in agriculture and beyond.

Global Market Trends:

The humic acid marketplace isn't always confined to a specific area, as its demand has been progressively developing on a worldwide scale. North America, Europe, Asia-Pacific, and Latin America are witnessing improved humic acid usage, propelled by agricultural intensification and the need for sustainable practices.

Innovation and Research:

As the humic acid market evolves, ongoing research and innovation play a pivotal role. Researchers and manufacturers are exploring novel extraction methods, improving formulation techniques, and expanding the range of applications. These advancements aim to unlock the full potential of humic acid, ensuring its efficacy in diverse settings and addressing specific agricultural challenges.

The humic acid market stands as a testament to the evolving landscape of agriculture. As the arena grapples with the need for sustainable and efficient farming practices, humic acid emerges as a precious best friend in improving soil health and crop productiveness. With ongoing studies, technological improvements, and a growing worldwide recognition, the humic acid market is poised for continued expansion, contributing to the transformation of present-day agriculture.

Read More

North America Is Dominating Stem Cell Therapy Industry

The global stem cell therapy market was 306.1 million USD in 2023 and is estimated to grow at an annual rate of 16.9% from 2024 until 2030 with a forecasted value of USD 910.8 million. This growth of the market can be credited to the growing occurrence of traumatic wounds, orthopedic conditions, neurological illnesses, and autoimmune diseases, such as multiple sclerosis, stroke, lupus, Parkinson’s disease, COPD, and amyotrophic lateral sclerosis (ALS).

In 2023, allogeneic stem cell therapy had the largest share, 60%, and the same is also projected to advance at a CAGR of 17.0% during the projection period. This can be credited to the surge in the count of clinical trials for the growth of such treatments. The major benefit of an allogeneic transplant is that the graft does not have any polluting tumor cells. The graft also comprises immunocompetent cells derived from a donor, which might add an immune graft-versus-malignancy effect.

Furthermore, numerous studies on stem cell transplants have displayed potential results. For example, a study published in Clinical Cancer Research, a journal of the American Association for Cancer Research, in January 2023 says that an investigational allogeneic T-cell treatment, which simultaneously aims 6 different viruses, has shown advanced safety and efficacy in phase II clinical trial on patients who had gone through stem cell transplantation to cure cancer and certain blood-linked illnesses.

In 2023, on the basis of the application segment, the musculoskeletal disorders category produced the highest revenue. This can be credited to the growing occurrence of musculoskeletal sicknesses, such as osteoarthritis, carpal tunnel syndrome, lower back injuries, and muscle strains. As per the WHO, around 1.71 billion individuals have a musculoskeletal condition worldwide.

In 2023, North America accounted for the largest share of 55 %; this is expected to rise significantly at a compound annual growth rate between 2024 and 30. The funding for the development of stem cell therapies in this area has been credited with that. For example, in September 2022, Forge Biologics Inc., a contract development and manufacturing organization focused on gene therapy announced that it had raised USD 90 million in a Series C funding round with an additional undisclosed strategic investor cooled by Drive Capital and Aisling Capital together with another unknown strategic investor.

Read More

Surging Aging Population Boosts Medical Exoskeleton Industry

The medical exoskeleton market was USD 485.8 million in 2023, which will increase to USD 6,336.8 million, powering at a 44.8% CAGR, by 2030.

This growth is because of the surging number of individuals with physical disabilities, the rising number of orthopedic surgeries, and the mounting elderly populace. For example, as per the WHO, 1 in 6 individuals globally, or around 1.3 billion individuals, experience substantial disability.

Furthermore, the mounting number of serious injuries, strokes, and road accidents is assisting the industry expansion. Around 1.3 million individuals die every year due to road traffic accidents, according to the WHO. Therefore, the rising acceptance of medical exoskeletons to heal injuries is further boosting this expansion.

In 2023, the hardware category, based on component, led the industry, with a 60% share, and it will propel at a 45.0% CAGR, during this decade. This can be because exoskeletons are produced with different pieces of hardware like sensors, actuators, control systems, and powered systems.

The powered category is the larger type, primarily owing to the new developments in them. For example, with investment from the National Institutes of Health, Stanford University has created an exoskeleton that rapidly adapts to users’ motions while they walk naturally.

Moreover, the passive category is a significant contributor to the industry. Passive exoskeletons are mainly accepted in low-income and developing nations, particularly by those who can’t buy the powered ones.

North America led the industry in 2023, with a 55% share, and it will further advance at a significant rate, in the years to come. This will be because of the mounting aging populace, rising government support for exoskeletons, and the high occurrence of neurological illnesses.

APAC is the fastest-growing region. This can be primarily ascribed to the increasing funding in healthcare, the growing patient pool requiring mobility support and rehabilitation, and the latest product approvals.

With the surge in the elderly populace across the globe, the medical exoskeleton industry will continue to progress in the years to come.

Read More

CNAPP Market Will Reach USD 33,723.4 Million By 2030

In 2023, the market for Cloud-Native Application Protection Platform was USD 9,460.8 million and is expected to reach USD 33,723.4 million by 2030 at a compound annual growth rate of 20.0%.

The use of cloud servers, coupled with an increasing number of cyberattacks in various sectors, is largely too accountable for this development.

The platform category, based on offering, leads the industry. This can be because of the rising need for comprehensive native systems working in various applications to streamline detecting, acting, or monitoring for cloud workloads and environments; monitor for exposures; and quicken risk hunting.  

Applications to reduce response times, assist DevSecOPS crews, enhance the main security problems, allow risk hunting and address runtime threats are a further helping hand in increasing demand for CNAPP.

The public category, based on cloud type, will dominate the industry during this decade. This is attributed to its low price because there is no necessity to buy any software or hardware. The hardware, servers, software, or other associated infrastructure are possessed by third-party providers and directed by the essential authority.   

Moreover, this type is frequently employed for web-based applications, email, testing, and storage; development environments, and online offices. 

In 2023, the BFSI category, based on vertical, was the largest contributor to the CNAPP market, with a share of 35%, and it will remain the largest throughout this decade. This can be attributed to the fact that cloud computing, coupled with its native models as well as architecture infuse the agility of BFSI business. 

Furthermore, cloud computing enables innovation, decreases prices for enterprises, and offers a competitive advantage, and it is an important part of the digital uprising, changing the BFSI sector. 

The large enterprises category, based on enterprise size, leads the industry in 2023. The occurrence of cyber fraud as well as data theft post-pandemic has augmented. This has resulted in the surging acceptance of CNAPP by these enterprises to improve safety procedures and battle future threats or attacks.  

North America was the largest contributor to the industry, with USD 5.2 billion in 2023, and it will propel at a high rate in the years to come. This can be because of the existence of key companies and stringent rules as well as the mounting inventions in this field. 

Whereas, APAC is likely to have a decent share of the industry in the years to come. This will be mainly because of the presence of nations such as India, China, South Korea, and Japan, which are the major technology innovators. 

It is because of the surging count of cyberattacks across different sectors, the CNAPP industry will continue to progress in the years to come. 

Read More