According to a recent Future Market Insights report, the global Molecular Biology Enzymes, Kits & Reagents Marketwill grow dramatically between 2022 and 2032. By 2032, global sales of molecular biology enzymes, kits, and reagents are expected to total approximately US$ 48,476.41 million.

Technological Advancements Leading to Enhanced Efficiency & Greater Precision of Molecular Biology Enzymes, Kits & Reagents

The manufacturers of molecular biology enzymes, kits, and reagents have contributed significantly to technical breakthroughs by focusing on creating cutting-edge goods in an effort to diversify their product offerings. The cutting-edge items support the study procedures by providing features like increased precision and efficiency. One of the best instances of this is Thermo Fisher Scientific, Inc.’s SMART Digest Kit, which was created specifically for biopharmaceutical and proteomic applications. This kit reduces the time required for sample preparation while enabling the creation of high-quality data. The massive investments made in research and development by the pharmaceutical and biotechnology companies, along with the availability of numerous reimbursements for molecular diagnostics, will further encourage the adoption of molecular biology enzymes, kits, and reagents.

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A significant increase in the genetic disorders’ prevalence has been witnessed since the recent past, thereby driving adoption of molecular diagnostics. The processes of molecular diagnostics including epigenetics and polymerase chain reaction (PCR) require molecular biology enzymes, kits & reagents as, which form an integral part of these processes. Mounting cases of genetic disorders in light of growing geriatric population will significantly fuel demand for molecular biology enzymes, kits & reagents in the near future. Genetic data of individuals is considered highly confidential, and sharing this data is strictly prohibited. Genome sequencing aids identifying & treating a wide variety of diseases. However, there is lack of tools that are effective for securing the genetic information of individuals, and the information ends up being stored in cloud databases, which further poses threats regarding data thefts. The absence of effective technology to store genetic information is anticipated to negatively influence demand for molecular biology enzymes, kits & reagents.

Key Players:

Jena Bioscience GmbH

Takara Bio Inc.

Roche Holdings Inc.

Illumina Inc.

Thermo Fisher Scientific Inc.

Promega Corporation

KRISHGEN BioSystems

Agilent Technologies Inc.

Qiagen N.V.

and Merck & Co Company.

Key Research Findings from the Report

Although sequencing is expected to prevail as the largest application of molecular biology enzymes, kits & reagents in terms of revenues, synthetic biology is anticipated to persist as the fastest expanding application segment in the market. Cloning application segment will also exhibit an impressive expansion, and will account for the second largest revenue share of the market during the forecast period.

Academic and research institutes are expected to register fastest expansion in the market through 2026, based on end-users. However, revenues from this end-user segment will remain comparatively lower than other end-user segments included in the report.

Revenues from sales of molecular biology enzymes, kits & reagents for use in pharmaceutical and biotechnology companies are expected to account for the largest market share during 2017 to 2026.

Kits & reagents will prevail as top-selling and fast-selling product in the market. Between modifying enzymes and restriction enzymes, the latter will exhibit a relatively faster sales expansion whereas the former will account for a larger market revenue share through 2026.

North America is anticipated to remain the most remunerative market for molecular biology enzymes, kits & reagents, followed by Asia-Pacific excluding Japan (APEJ).

Segmentation Analysis By:

Product Type

Kits & Reagents

Modifying Enzymes

Restriction Enzymes

Other Product Types

End User

Pharmaceutical and Biotechnology Companies

Hospitals and Diagnostic Centers

Academic and Research Institutes

Other End Users

Application

Sequencing

Cloning

Polymerase Chain Reaction

Restriction Digestion

Synthetic Biology

Epigenetics

Other

The global Esophagoscopes & Gastroscopes Marketcurrently stands at US$ 1.2 billion and is predicted to exhibit a CAGR of 5.4%. The market is predicted to attain a valuation of US$ 2.0 billion by the end of 2033.

Technological Innovations Work in Market’s Favor

Innovations in the medical sector have led to a rise in the application of mechanical instruments for treating and diagnosing esophageal ailments. Since the geriatric population is globally growing, instances of esophageal cancer are rapidly rising.

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The utility of esophagoscopes for a plethora of diagnostic as well as surgical processes is aiding the market growth. The recent increase in the instances of global inflammatory bowel disease cases has shifted market trends. This has propelled the need for wide application devices for early disease detection. Such factors are cohesively fostering the fruitful application of advanced esophagoscopes and gastroscopes in the healthcare sector.

Medical Use Linked to Infection & Allergies, Market Prospects Impacted

Despite the steadily improving market prospects, there are factors such as the risk of infection from contamination, anesthesia-induced allergic reactions, and organ perforation risks. These factors are expected to hinder market growth during the forecast period. Key players need to focus on developing variants that are more efficient and pose fewer side effects.

Soaring Product Costs Impact the Market Growth Rate

Currently, the advanced endoscopes available in the market are expensive. This can be attributed to the use of specialized components in their manufacturing processes. Hence, there is a need to develop a cheaper alternative for the sophisticated components of these advanced models. This would open up the market to a larger consumer segment, triggering steady revenue increment.

As Key Players Consolidate their Position, New Entrants Need to Innovate

Recent market trends have revealed that key players are driving product innovations using advanced technologies. This is to aid product application in the highly competitive medical device manufacturing sphere. Hence, new entrants need to carefully harness niche technologies for specific applications. By identifying gaps in the current market, startups could overtake key players.

Key takeaways from the Report:

The esophagoscopes and gastroscope market rose at 4.9% CAGR from 2017 to 2022, with sales revenue in 2022 reaching US$ 1.1 billion.

During the forecast period, the United States market is expected to register a CAGR of 5.8% and attain a value of US$ 648.5 million by 2033.

During the forecast period, the Indian market is expected to register a CAGR of 6.2%.

The hospital end-user segment is expected to register a CAGR of 5.2% during the forecast period.

The flexible endoscope segment dominates the market by product type at a CAGR of 5.0%, predicted between 2023 and 2033.

Recent Market Developments:

In September 2020, PENTAX Medical launched its latest innovation: video gastroscopes. This product line was named the J10 Series Ultrasound Video Gastroscopes. These are equipped with comes with linear scope scans as well as advanced frequency capabilities

In October 2021, FUJIFILM Healthcare Americas Corporation launched its new endoscope variant - Fujifilm's EI-740D/S. It is a dual-channel endoscope approved by the FDA. It can be used for the diagnosis and treatment of both the upper and lower gastrointestinal tract.

In February 2022, Ambu A/S gained FDA clearance for their latest gastroscope variant.

Key Market Players:

Shanghai AoHua Photoelectricity Endoscope Co. Ltd.

Olympus Corporation

Pentax Medical Company

Fujifilm Holdings Corp.

Karl Storz GmbH & Co. KG

Key Segments of Esophagoscopes and Gastroscopes Industry Survey

Esophagoscopes and Gastroscopes Market by Product Type:

Rigid Endoscopes

Flexible Endoscopes

Esophagoscopes and Gastroscopes Market by End User:

Esophagoscopes and Gastroscopes for Hospitals

Esophagoscopes and Gastroscopes for Ambulatory Surgical Centres

Esophagoscopes and Gastroscopes for Specialty Clinics

Esophagoscopes and Gastroscopes for Diagnostic Centres

According to a recently published research report by Future Market Insights (FMI), the global Sleep Aid Devices Market is projected to be valued at US$ 29,200 Mn by the end of 2026. Increasing stress levels and rise in the sleeping disorders such as sleep deprivation, narcolepsy, restless legs syndrome, sleep apnea, and insomnia have necessitated the need for medical intervention. Among the various options available to healthcare providers and patients, the adoption of sleep aid devices has grown steadily.

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Multiple government & non-government societies such as ASAA (American Sleep Apnea Association) and Circadian Sleep Disorder Networks have underpinned the growth of the sleep aid devices market by organizing various sleep cognizance programs pertaining to the importance of sound sleep. As a result, there has been a significant rise in the demand for sleep aid devices for the treatment of sleep-related disorders.

Disposable income in the developing economies has been constantly increasing, which has upgraded the lifestyle of people. A sheer demand for advanced and secured sleep aid devices has been witnessed in these markets, on the back of enhanced spending capacity of the consumers. These factors have offered a lucrative growth opportunity to the manufacturers of these devices and as a result, the global sleep aid devices market is predicted to clock an impressive CAGR of over 4% by the end of 2026.

Proclivity for Smoke and Alcohol Drives the Sales of Sleep Aid Devices at the Global Level

Increasing geriatric population and sleep disorders associated in this demography have created a robust demand for the sleep aid devices. Furthermore, a rise in the sedentary lifestyle and the comorbidities such as heart disease, obesity, stroke, type 2 diabetes, and atherosclerosis have resulted in the widespread utilization of sleep aid devices. Proclivity of adults for smoking, drug abuse, and alcohol at a global level have been a driving factor for the growth of the sleep aid devices market.

North America to Lead the Global Sleep Aid Devices Market, Europe Second Largest Market

As per the insights extracted from the descriptive study based on the sleep aid devices market, the market of Europe and North America reigns supreme on the back of reimbursement provided by the government. Moreover, a rise in the per capita medical expenditure of the consumers hailing from these regions has alongside contributed to the growth of the global sleep aid devices market.

As compared to the developed economies in North America and Europe, the sleep aid devices market in the emerging economies will witness an impressive rate of growth, on account of supportive government policies and ongoing development in the healthcare sector.

Comprehensive Look at the Competitive Landscape of the Global Sleep Aid Devices Market

Key information obtained from the market study includes an analytical view of the key players transforming the current sleep aid devices market scenario. This descriptive report highlights companies such as ResMed Inc., Sleep Number Corporation, Koninklijke Philips N.V., Responsive Surface Technology LLC, Simmons Bedding Company LLC, Eight Sleep Inc., Electromedical Products International, Inc., Ebb Therapeutics, Sleepace Inc., Kingsdown, Inc., Drive DeVilbiss Healthcare LLC, SleepMed Inc., Cadwell Laboratories Inc., Teva Pharmaceutical Industries Ltd., Drive Medical Ltd., and RESPeRATE.

Key companies such as Tempur Sealy International, Simmons Bedding Company LLC, Sleep Number Corporation, Dreams, ResMed, and Koninklijke Philips N.V. procure a major share in the sleep aid devices market. Aforementioned manufacturers are endeavoring into developing new products for diversifying their portfolio in the sleep aid devices market. Key manufacturers of sleep aid devices market are collaborating with retailers, distributors, and local wholesalers, in order to expand their operations

In 2022, the global Amniotic Membranes Market is expected to be worth approximately US$ 1.4 billion. Furthermore, with the increasing use of amniotic membranes in ophthalmology, total sales of amniotic membranes are expected to grow at a CAGR of 9.0% between 2022 and 2028, reaching more than US$ 2.3 Billion by the end of 2028.

Population of all age groups has emerged as a prominent consumer base, characterized by untapped product segments for amniotic membranes to offer effective wound healing and eye surgeries.

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This has prompted the amniotic membrane product manufacturers to capitalize on the emerging latent opportunity. The companies in the market are optimistic with regard to increasing amniotic membrane transplants and increasing demand for amniotic membrane products around the world, particularly in North American countries.

It is more than likely that over the span of the next four to five years, the companies focus on developing innovative products and designing market level strategies to leverage the potential opportunities emerging in parallel with growing human population with various chronic diseases.

Amniotic membrane products such as Amniotic Allograft Membrane and Amniotic Allograft Suspension used to treat surgical wounds and defects of the corneal epithelia have gained traction over the last two decades. The major types of amniotic membranes such as cryopreserved amniotic membrane and lyophilized amniotic membrane have evolved back in the 1990s, but they became significant and the market for amniotic membranes to be used on humans boomed over the past fifteen years.

Some of the key points identified in global amniotic membrane market are:

FMI forecasts the global amniotic membrane market to grow at a CAGR of 9.3% over the forecast period by 2028 end. The growth in revenue generation across the amniotic membrane market is registered on the account of rise in amniotic membrane transplants in both developed and developing economies.

The hospitals segment has proved to be the leading end user segment on account of increase in number of amniotic membrane transplants, growing awareness among the people about the benefits of the amniotic membrane transplant.

Ease of FDA approval for novel and innovative amniotic membrane allografts coupled with adoption of amniotic membrane for varied applications would boost the revenue growth in Germany & the U.S. markets.

Most often, apart from major applications including surgical wound and ophthalmology, the use of amniotic tissue in orthopaedic surgery, sports medicine and podiatry treatment has increased in the recent years.

The amniotic membranes used majorly to treat human surgical wound needs to be FDA approved, thus amniotic membrane manufacturers focus on getting fast FDA approvals.

Key companies profiled:

Integra LifeSciences Inc., MiMedx Group, Inc., Tissue-Tech Inc., Skye Biologics Inc., Katena Products Inc., Alliqua BioMedical Inc., Human Regenerative Technologies LLC, Amnio Technology LLC, Applied Biologics LLC

Key Segments Of Amniotic Membranes Market Industry Survey

Amniotic Membranes Market by Product Type:

Cryopreserved Amniotic Membranes

Lyophilized Amniotic Membranes

Amniotic Membranes Market by Application:

Surgical Wounds

Ophthalmology

Others

Amniotic Membranes Market by End User:

Hospitals

Specialized Clinics

Ambulatory Surgical Centres

Academic Research Centres

The Airway Management Devices Market is anticipated to be valued at US$ 1.6 billion in 2023, with total revenue recording a 3.6% CAGR from 2023 to 2033, reaching US$ 2.2 billion.

The airway management devices market was valued at US$ 1.5 billion in 2022, with a 3.2% CAGR expected throughout the projected period. The global market's absolute dollar growth is US$ 668.5 million.

The rising frequency of respiratory disorders is expected to be one of the market's key driving forces. The WHO estimates that 65 million people have moderate-to-severe COPD. Furthermore, COPD is expected to be the third biggest cause of death globally.

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This high incidence, combined with an increase in anaesthetic consumption as a result of many surgeries, is likely to drive demand for advanced equipment, positively impacting the overall market growth. The growing demand for emergency treatment for long-term illnesses, as well as long-term therapy for lung disorders in children and adults, is also anticipated to fuel market expansion.

In the current scenario, growing awareness of inadequate ventilation and the introduction of relatively advanced procedures for preoperative airway examination are projected to broaden the possibility for product penetration in the future years. Preoperative Endoscopic Airway Evaluation (PEAE), for example, aids in the identification and prediction of blocked ventilation, as well as the design of an effective management strategy that focuses on the use of advanced equipment like supraglottic airway.

Key Takeaways

The market is estimated to drive due to increased demand for emergency and intensive care.

The rise in the prevalence of respiratory diseases is likely to drive the growth of the market for airway management devices.

The airway management devices market is expected to be worth US$ 1.6 billion in 2023.

Airway management devices market is forecasted to register a 3.6% CAGR from 2023 to 2033.

North America is likely to dominate the market for airway management devices market.

Recent Developments:

Verathon Inc. introduced the GlideScope Core 15 airway visualisation system in January 2020, which employs a 15-inch high-definition touchscreen monitor to provide improved visibility.

In January 2020, Smiths Medical, Inc. announced the expansion of its Portex Tracheostomy Tubes and Kits line by releasing a PVC-based tracheostomy tube range. The portfolio includes BLUperc, BLUselect tracheostomy tubes, and BLUgriggs percutaneous tracheostomy kits and trays.

Olympus Corporation, a global technology leader in inventing and delivering new solutions for surgical and medical procedures, among other core activities, announced the release of two video rhino-laryngoscopes in September 2019. It is proposed that the ENF-VH2/V4 be specially constructed for laryngological tests.

In September 2018, Royal Philips announced the development of a resuscitation device in conjunction with the Consortium for Affordable Medical Technologies (CAMTech) to aid in the reduction of infant mortality.

In January 2019, Oventus Medical, a medical device business, unveiled O2 Vent Optima, a new product. It is used to treat obstructive sleep apnea. It is based on the airway technology developed by Oventus Medical. It keeps the airway from contracting and allows for unrestricted airflow from the tongue, soft palate, and nose. It is suitable for usage with or without continuous positive airway pressure.

Key participants in the global market include:

Medtronic Plc

Teleflex Incorporated

Ambu A/S

Smith’s Group plc.

Intersurgical Ltd.

Cook Medical Inc.

SunMed

Vyaire Medical Inc

VBM Medizintechnik GmbH

Karl Storz SE & Co. KG

Cook Gas LLC

Flexicare (Group) Limited

BVLM Pty Ltd

Boston Medical Products Inc. (BESS GROUP)

Salter Labs

Airway Management Devices Market Key Segments

By Product Type:

Laryngeal Masks

Tracheostomy Tubes

Endotravheal Tubes

EndoBronhial Tubes

Nasal Airway Tubes

Oral Airway Tubes.

By Usage Type:

Single Use/ Disposable

Reusable

By End User:

Hospitals

Ambulatory Surgical Centers

Specialty Clinics

Lifestyle trends have substantially changed in the past years and have largely influenced the focus on dental health on a global scale leading the market towards a growth of 4.1%.

The Dental Lasers Marketis expected to be worth US$ 492.2 million in 2023, rising to US$ 737.4 million by 2033. During the forecast period, sales of dental lasers are expected to grow at a significant CAGR of 4.1%.

The dental lasers market is being driven by a number of factors, including increasing technological advancements, an increase in the prevalence of dental disorders, and increased public awareness of oral hygiene.

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Due to the growing age population, there has been an increase in the number of dental implants and oral surgeries, which is driving up demand for dental lasers globally.

Other key factors influencing the market positively include minimally invasive surgeries and the short time required for dental procedures.

Treatment and surgical advancements are propelling the market. Furthermore, the growing acceptance of dental tools and instruments launched by manufacturers is fueling the dental lasers market.

A few emerging market trends include the increasing use of lasers in the dentistry domain, as well as the increasing acceptance of devices with novel technologies by dental surgeons.

Key Takeaways from the Automotive Refinish Coatings

Consumer preferences for minimally invasive dental procedures, as well as the increasing use of surgical dental lasers in orthodontic surgeries, are expected to drive growth and lead the market toward a growth of 4.1%.

Rising dental hygiene and dental health awareness have increased the frequency of diagnostics and treatments at dental clinics leading the market towards a trajectory of 4.4% by 2033.

The hospitals segment is expected to grow at a substantial CAGR of 6.56% from 2023 to 2033, owing to improved healthcare facilities in developing countries and well-established medical infrastructure in developed countries.

The United States is dominating the market with a revenue share of US$ 204.6 million. Recent advancements in radiation technology in oral biology and comfortable and low-cost treatment are key growth drivers in the region.

India is the most lucrative region growing at a rate of 5.6%. The rising number of dental diseases caused by the high consumption of tobacco, alcohol, and other such products is expected to cause a significant increase in India.

Manufacturers are constantly expanding their supply chains.

The dental laser market's competitive landscape is moderately fragmented, with a few major companies operating on a global and regional scale. Strategic alliances are being formed by key players in order to expand their respective portfolios and gain a strong foothold in the global market.

Latest Developments

In January 2022, BIOLASE, Inc. announced the continuation of their collaboration with BMW Performance Center West (BMW PCW) at The Thermal Club near Palm Springs to provide dentists with a once-in-a-lifetime opportunity to experience two cutting-edge pieces of technology: the Waterlase dental laser and BMW award-winning vehicles.

Fotona, based in Europe and the United States, completed the purchase of the Fox III and Fox IV laser systems, as well as the EmunDo® Therapy system, from A.R.C. Laser GmbH in September 2020, August 2020.

BIOLASE announced the introduction of its novel Epic Hygiene laser at the Greater New York Dental Meeting, the largest dental meeting in the United States, on November 29-December 4, 2019. The novel laser system offers dental professionals a complete solution for effectively treating nonsurgical periodontitis and increasing clinical output.

Key Players Operating in the Dental Lasers Market Include:

CAO Group, Inc.

Biolase, Inc.

Sirona Dental Systems Inc.

Fotona, LLC

Yoshida Dental Mfg. Co., Ltd.

KaVo Dental

Gigaa Optronics Technology Co., Ltd.

Millennium Dental Technologies Inc.

LaserStar Technologies Corporation

Den-Mat Holdings, LLC

Han's Laser Technology Industry Group Co., Ltd

Key Segments Covered in the Dental Lasers Market Report

Dental Lasers Market by Laser Type:

Dental Surgical Lasers

Diode Dental Lasers

CO2 Dental Lasers

Nd:YAG Lasers

Articulated Arm Lasers (Er:YAG)

Fiber-delivered Lasers (Er, Cr:YSGG)

Dental Welding Lasers:

Benchtop Lasers

Standalone Lasers

Dental Lasers Market by End User:

Dental Lasers for Dental Clinics

Dental Lasers for Hospitals

Dental Lasers for Ambulatory Surgical Centers

The global Compression Therapy Market is expected to reach US$ 3.01 billion in 2022 and US$ 4.59 billion by 2030, expanding at a CAGR of 5.4%, indicating consistent positive market growth over the forecast period (2022-2030).

Highlighting the key influencing factors, the study opines that the growing diabetic population across the globe has increased the demand for compression stockings and diabetic socks. Moreover, innovations like NPWT (Negative Pressure Wound Therapy) have turned out to be the modus operandi for managing acute and chronic wounds. Also, advancements in pneumatic compression therapy have proven to be effective and safe in treating lymphedema (caused by HNC – head and neck cancer) as stated by “Supportive Care in Cancer”.

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Key Takeaways from Compression Therapy Market Study

The static compression therapy held the largest market share in 2019 and the trend is expected to continue in the forecast period (2020-2030)

Chronic ulcers are expected to hold more than 69% of market share in terms of revenue in 2020

Among all distribution channel, institutional sales is the leading segment followed by retail sales. Retail sales segment is anticipated to grow at CAGR of 6% over the forecast period

North America and Europe are collectively expected to hold more than 67% of revenue share in 2020 while East Asia is expected to show greater growth potential in the forecast period.

"Acquisitions and launch of compression products along with increasing demand for compression therapy offering increased mobility, enhance athletic performance and safety profiles are driving the growth of global compression therapy market” says the FMI Analyst

Expansion with Research: The Latest Trend

The compression therapy market players are onto the expansion spree to stand out.

For instance –

In May 2020, British Medical Journal published a study that stated that anti-embolism stockings are all the more effective with respect to DVT (deep vein thrombosis). This finding is bound to influence players to go for production of anti-embolism stockings in the forecast period

Avanos Medical Inc., in the year 2018, announced acquiring CoolSystems, Inc. The products post acquisition were marketed as “Game Ready”

Huntleigh Healthcare Ltd.’s IPC (Intermittent Pneumatic Compression) products under the “Hydroven” brand are a noteworthy addition to vascular assessment systems

Key Companies Profiled:

Paul Hartmann AG

Sigvaris AG

BSN Medical GmbH

Cardinal Health Inc.

3M Health Care Ltd

Key Segments of Compression Therapy Industry Survey

Compression Therapy Market by Product:

Pneumatic Compression Therapy

Non-segmented Pneumatic Compression Pumps

Pneumatic Compression Sleeves

Lower Pneumatic Compression Sleeves

Upper Pneumatic Compression Sleeves

Segmented Pneumatic Compression Pumps

Segmented Pneumatic Compression Pumps with Calibrated Gradient

Segmented Pneumatic Compression Pumps without Gradient

Static Compression Therapy

Anti-embolism Stockings

Compression Bandages

Compression Garments

Lower Compression Garments

Upper Compression Garments

Compression Therapy Market by Indication:

Chronic Ulcers

Venous Leg Ulcers

Diabetic Foot Ulcers

Pressure Ulcers

Non-healing Surgical Wounds

Traumatic Wounds

Burn Cases

Compression Therapy Market by Distribution Channel:

Institutional Sales

Hospitals

Clinics

Ambulatory Surgical Centers

Nursing Facilities

Retail Sales

Hospital Pharmacies

Retail Pharmacies

Online Sales

The global Saudi Arabia Pharmaceutical Market is anticipated to create a phenomenal opportunity by exhibiting an impressive CAGR of 9.6%over the projection period from 2022 to 2032. The market is expected to hold a valuation worth US$ 5,209.5 Million by the end of 2022.

The growth of Saudi Arabia's pharmaceutical market is predicted to continue to propel over the estimation period owing to the country’s fast-rising population and large intake of expatriates.

The Saudi pharmaceutical business is dominated by branded pharmaceuticals produced by numerous global corporations and sold under a second brand name in collaboration with local firms and distributors. Pharmaceutical demand is rapidly surging in Saudi Arabia attributed to the increase in the frequency of non-communicable illnesses and better healthcare infrastructure.

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Saudi Arabia imports around 80% of its medications from several other nations, and the country’s market is dominated by several global corporations. Surging lifestyle illnesses and high brand loyalty for multinational medications in Saudi Arabia are likely to bolster pharmaceutical demand throughout the predicted period. In addition to that, surging per capita income, expanding healthcare infrastructure, and increased penetration of health insurance firms in the Kingdom are fueling development in the Saudi pharmaceutical industry. In Saudi Arabia, MNCs dominate the pharmaceuticals market resulting in accounting for the lion’s share of the market.

The Saudi Arabia pharmaceutical market is anticipated to witness phenomenal growth due to rising health consciousness and increased healthcare spending is projected to bolster market expansion in the upcoming years. Macroeconomic reasons such as increased health insurance company penetration and healthcare reforms such as permitting 100% FDI in the pharmaceuticals industry are also expected to fuel market expansion. Several other significant developments in the marking include the fast-expanding number of religious visitors and the growing number of ex-pats in the nation. Saudi Arabia is known as the largest market in the GCC area that offers superior investment options for investors, which are driven by mandated insurance for ex-pats in the nation. These aforementioned factors are responsible for growth in the Saudi Arabia pharmaceutical market across the forecast period.

Key Takeaways

Saudi Arabia’s government and other multinational organizations are meticulously working towards improving their healthcare sector which is one of the key drivers to boost the growth of the Saudi Arabia pharmaceutical market throughout the forecast period. The Saudi Arabian General Investment Authority (SAGIA) and the British pharmaceutical company GlaxoSmithKline inked a manufacturing localization agreement in July 2019, (GSK). This is projected to help the latter accelerate its production capacity by 2022, producing a variety of Saudi-related employment.

The dominant businesses actively participating in the Saudi Arabia pharmaceutical market are focusing on effective business tactics such as drug development collaborations and partnerships, R&D activities, and regional expansions, which are projected to enhance the Saudi Arabia pharmaceutical market growth.

Owing to the rising prevalence of diabetes and cancer in both males and females among the Arab population is predicted to bolster the Saudi Arabia pharmaceuticals market throughout the forecast period. As per the projections of the World Health Organization (WHO), Saudi Arabia comprises the second-largest diabetes prevalence rate in the Middle East region and the seventh-highest diabetes prevalence rate in the world. It is analyzed that around 7 million individuals are diabetic, with an additional 3 million having pre-diabetes.

Competitive Landscape

Dominant market players are focusing on innovations that are driving the most recent advances in Saudi Arabia's pharmaceutical sector. The country has managed to become one of the world’s top-rising economies on the basis of entrepreneurship and business.

Key Companies Profiled:

SPIMACO

Tabuk Pharmaceuticals Manufacturing Co.

Julphar

Jamjoom Pharma

GlaxoSmithKline plc

Pfizer Inc.

Novartis AG

Sanofi

Key Segments Covered in the Saudi Arabia Pharmaceutical Industry Analysis

Saudi Arabia Pharmaceutical Market by Product Type:

Prescription Products

Branded Drugs

Generic Drugs

Over The Counter (OTC) Products

Saudi Arabia Pharmaceutical Market by Disease Type:

Cardiovascular Diseases

Diabetes

Cancer

Obesity

Infectious Diseases

Other Diseases

Saudi Arabia Pharmaceutical Market by Distribution Channel:

Hospital Pharmacies

Retail Pharmacies

A rare endocrine condition called hypoparathyroidism frequently causes high calcium and phosphate levels, which in turn cause the parathyroid hormone (PTH) to be produced at low or abnormal levels. The Hypoparathyroidism Treatment Market is anticipated to reach a market value of US$ 717.7 million in 2021 and is predicted to grow at a promising CAGR of around 8% through the end of the forecast period in 2031, according to a recent research report by Future Market Insights (FMI).

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Hypothyroidism primarily arises from surgeries in the neck region. It is associated to accidental damage to the parathyroid gland. High prevalence of these surgeries is expected to boost the demand in the hypoparathyroidism treatment market. For instance, in the U.S., up to 115,000 people are diagnosed with the chronic hypoparathyroidism. The majority of the hypoparathyroidism cases are caused by anterior neck surgery, which accounts for up to 75% of the of all hypoparathyroidism cases. The remaining 25% cases are non-surgical or in very rare cases is linked to genetic disorders.

Furthermore, considering the rare occurrence of this medical condition, hypoparathyroidism has been designated as an orphan disease by the U.S. FDA and European Commission. This designation of orphan disease will help manufacturers to speed up their drug development processes, which leads to better availability of drugs for treatments of hypoparathyroidism.

However, the unprecedented nature of the COVID-19 pandemic has had a significant impact on the development of drugs for rare diseases including those associated with hypoparathyroidism. Preference now is being given to the development of life-savings drugs with greater focus on development of COVID-19 drugs and vaccines, thus halting or suspending existing clinical trials other than live saving drugs.

Also, this has led to the delay or postponement of enrolment of the new participants for clinical studies. Thus, the lack of sufficient data availability on the safety and effectiveness of treatments from clinical trials, will hurt short-term prospects. Clinical trials will gradually resume through 2021, and is anticipated to pick up pace during the forecast period.

Key Takeaways from Hypoparathyroidism Treatment Marker Study

Calcium supplements dominate the hypoparathyroidism treatment market growing 2x by 2031 owing to efficacy with hormonal therapy.

Parenteral route of administration is projected to grow at higher pace, driven by a rise in the number of clinical trials, and approval of new drugs which are influencing strong growth in this segment.

United States holds over 85% of the North America market for hypoparathyroidism treatments and will remain dominant owing to government incentives.

The U.K. will exhibit high demand, registering y-o-y growth at nearly 7% in 2021.

Germany and France will emerge as key markets within Europe.

China and India reflect high potential for growth on the back of a large subclinical patient pool for kidney disorders, diabetes, obesity, thyroid surgeries or head & neck surgery.

Growing cases of hypoparathyroidism and associated neck surgeries, coupled with an increase in patient awareness and screening, faster approvals and grants for product development, and favourable reimbursement scenarios, are major factors influencing market growth. Demand for biologics and the emergence of personalized medicine are some of the upcoming trends that are expected to generate significant growth opportunities for manufacturers operating in this space,” says the FMI Analyst

Some of the leading companies operating in the market are:

Takeda Pharmaceutical Company Limited.

Entera Bio Ltd.

Amgen Inc.

Ascendis Pharma A/S

F. Hoffmann-La Roche Ltd

ProLynx, Inc.

Extend Biosciences, Inc.

BionPharma Inc.

Hypoparathyroidism Treatment Market

By Product Type

Parathyroid Hormone

Natpara

Others

Vitamin D Analogue

Vitamin D2

Vitamin D3

Calcium Supplements

By Route of Administration

Oral

Parenteral

Distribution Channel

Hospital Pharmacies

Retail Pharmacies

Online Sales

The Point Of Care Blood Testing Devices Market is anticipated to reach US$ 49,973.6 million in value by 2032, up from US$ 15,362.4 million in 2022, growing at a CAGR of 11.3% during the projection period.

Point of care or POC blood testing devices are easy handheld devices which are used to perform various blood tests. Point of care blood testing devices are used to obtain diagnostics test such as protein test, blood metabolites test, hormone blood test, INR or prothrombin test (PT), haemoglobin test and also used to test glucose level in blood. Point of care blood testing devices also referred by many different names such as remote testing device, near-patient testing device and rapid diagnostics devices.

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It can be deduced from the current situations brought about by the pandemic that the production, and supply chain activities have experienced minor hurdles. However, the market is projected to gradually recover post-COVID-19, which will present attractive opportunities for sales across various regions of the world in the following years.

Future Market Insights (FMI) adopted a multidisciplinary approach during the pandemic-era to focus on the growth and development of the Point Of Care Blood Testing Devices Market. The study features insights on the current growth dynamics and the major revenue reforms prevailing in the market as along with the key takeaways over the forecast.

The team of analysts at Future Market Insights are focussing on research and market study to produce different Point Of Care Blood Testing Devices Market forecasts and predictions at both national and international levels. They have considered several leads of information pertaining to the industry like market figures and merger estimations to assess and produce reliable and informative insights on the Point Of Care Blood Testing Devices Market.

Key Players:

Abaxis

Abbott Laboratories

Accubiotech Co, Ltd.

ACON Laboratories, Inc.

Becton

Dickinson and Company

Biolytical Laboratories

Danaher Corporation (HemoCue)

Siemens Healthineers

Meridian Bioscience, Inc.

Key Segments in the Point of Care Blood Testing Devices Market

By Product Type :

Diabete POC Analyzer

Coaglulation POC Analyzer

POC Blood Analyzer

Hematology POC Reader

By Technology :

Printer Devices

Touch-Screen Devices

Hand-held Devices

By Distribution Channels :

Retail Prices

Hospitals

Clinics

Health Centers

Homecare Settings