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High Burden of Chronic Diseases To Drive Active Pharmaceutical Ingredient Demand

The International Agency for Research on Cancer (IARC) states that 10 million cancer deaths and 19.3 million new cancer cases were recorded in 2020. As per the IARC, 1 in 5 people around the world develops cancer during their lifetime. Further, the World Health Organization (WHO) estimates that approximately 17.9 million human lives were lost due to cardiovascular diseases (CVDs) in 2019. Additionally, the WHO states that over 3 million people each year die of chronic obstructive pulmonary disease (COPD), accounting for over 6% of the global deaths.

The rising incidence of such chronic diseases is projected to propel the active pharmaceutical ingredient (API) market at a CAGR of 6.9% during the forecast period (2021–2030). Additionally, P&S Intelligence states that the booming geriatric population will help the market revenue surge from $184,311.2 million in 2020 to $357,005.7 million by 2030. According to the United Nations Department of Economic and Social Affairs (UNDESA), the number of people aged 65 years or above will increase from 727 million in 2020 to around 1.5 billion by 2050.

Nowadays, captive and merchant manufacturers are producing generic and innovative APIs, which are available through online and offline channels. In contemporary times, innovative APIs are being used in higher quantities due to the mounting focus of pharmaceutical companies on developing new and more-effective medicines. In the coming years, captive manufacturers will emerge as the larger producer of APIs due to the stringent quality control and drug safety guidelines the pharma sector is subject to and the higher budgets captive companies possess for research and development (R&D).

The therapeutic application segment of the active pharmaceutical ingredient market is categorized into CVDs, communicable diseases, diabetes, oncology, pain management, respiratory diseases, and others. Among these, the oncology category held the largest market share in 2020, primarily on account of the high burden of cancer and extensive demand for highly potent APIs (HPAPIs) for cancer treatment. The WHO estimates that cancer caused approximately 10 million fatalities around the world in 2020. It also states that 1.93 million, 2.21 million, and 2.26 million people were diagnosed with colon and rectum, lung, and breast cancer, respectively, in 2020.

In recent years, pharma firms, such as Eli Lilly and Company, Mallinckrodt plc, Merck & Co. Inc., Lupin Limited, Johnson & Johnson, STADA Arzneimittel AG, AbbVie Inc., MSN Laboratories Pvt. Ltd., Novartis AG, Sun Pharmaceutical Industries Ltd., Pfizer Inc., AstraZeneca plc, and Sanofi, have been introducing new products, entering into collaborations and partnerships, and expanding their production capacities, to offer APIs to a greater number of customers. For example, in July 2021, Pfizer Inc. collaborated with Arvinas Inc. to develop and sell PROTAC estrogen receptor protein degrader ARV-471.

Globally, the North American active pharmaceutical ingredient market is expected to generate the highest revenue during the forecast period, owing to the rising burden of chronic diseases, mounting demand for specialty drugs and biologics, surging government focus on generic drugs, increasing technological advancements, and soaring number of R&D initiatives in the pharmaceutical industry. Moreover, the growing public awareness regarding numerous lifestyle-related diseases, such as diabetes, is expected to drive the API demand in the region.

How Wearable Electrodes Can Help in EKG Monitoring?

The use of wearables for health and wellness monitoring is quickly growing. In the years gone by, wearable technology has become popular. For several years, wearables have offered elementary features like step count. Though, over time these features have grown to offer more cutting-edge physical measurements like heart electrical activity.

ECG monitoring is becoming one of the most striking health features of smartwatches. With CVD being one of the foremost reasons of worldwide deaths, the usage of smartwatches to monitor patients remotely could improve the care of heart injury.’

Dry Electrode challenges in EKG development

For detecting EKG, electrodes are needed on a device. This detection interface is a critical constituent in allowing the correctness that will be compulsory, but it can be difficult to implement, particularly with the use of dry electrodes.

When working at electrode stage of the cycle of EKG development, there are numerous challenges like physical design, electrode material choice, the characteristics of the skin location, aesthetic requirements as well as meeting the complete performance necessities of end device. On system level, some of these challenges can be lessened through intelligent signal conditioning algorithms, though, taking a holistic method and tackling all parts of the signal chain will guarantee a world class customer experience.

Some issues faced with electrodes are:

Electrode Skin Interface

Skin is the largest body organ, and is fabricated from numerous components. The epidermis, has a comparatively high impedance opposing the transfer of the EKG signal. In a wet electrode, this is lessened by the conductive electrolyte; in dry electrodes, sweat executes this function. The electrode alters this charge in sweat into electric charge that can be used by the device hardware.

Dry Electrode Mechanical Design

The EKG dry electrodes performance can be impacted by position, size, and surface finish. For a given material, dissimilar sizes and the body position can affect the contact with the skin and the subsequent signal can vary suggestively in quality. The finish of the surface can alter the contact mechanisms, and some coverings can even further obstruct the movement of the EKG signal.

A good amount of data can be collected with the help of wearable sensors for monitoring and recording real-time info about patients’ health. So, it is vital for managing and overcoming these issues to let better-quality sensor performance.

With the increase in technology in the medical industry, medical electrodes are high in demand worldwide.

Browse Full Report Medical Electrodes Market Key Drivers

Increasing Incidence of Chronic Diseases Driving Advancement of Chronic Pain Treatment Market

From $77.8 billion in 2019, the global chronic pain treatment market is predicted to reach a value of $151.7 billion by 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market would advance at a CAGR of 6.5% between 2020 and 2030. The market is being driven by the rising government support for various chronic pain treatment procedures, the surging geriatric population, and the growing incidence of chronic health problems around the world.

The governments of many countries across the world are launching initiatives for raising public awareness about advanced pain treatment items and providing funding for the same, thereby fueling the expansion of the industry. For example, the Developing Countries Project of the International Association for the Study of Pain (IASP) was implemented between January and March 2018 for advancing pain treatment practice and education in the emerging economies with the help of grants.

As per the 2019 World Population Ageing report, there were as many as 703 million persons in the age bracket- 65 years or above all over the world in that year. The report said that over half of the geriatric people in the world in 2019 suffered from multiple chronic health ailments. The rising incidence of chronic diseases is another important factor driving the progress of the market. Orthopedic diseases, neurological disorders, and cancer cause long-term pain in patients.

As per the WHO, the low- and middle-income countries witness the deaths of nearly 70% of the total worldwide cancer deaths. Furthermore, migraine, lower back pain, joint pain, and neck pain generate huge requirement for pain treatment services such as psychological therapies, neuroablation, and physiotherapy throughout the world. Many drugs produced by the players operating in the industry for the treatment of various chronic diseases are currently under clinical trials.

Depending on product, the chronic pain treatment market is classified into devices and drugs. Between these, the drugs category recorded higher growth in the market in the past years. Globally, the market registered the highest growth in North America during the last few years and this trend will continue in the upcoming years as well. This would be because of the soaring population of geriatric people in the regional countries.

Hence, it can be safely concluded that the market will demonstrate huge growth all over the world in the forthcoming years, primarily because of the rising incidence of chronic diseases and the surging geriatric population in several countries around the world.

With Strong Government Support, Autoimmune Disease Diagnostics Market Set to Attain $10,012.9 Million Valuation by 2030

The International Agency for Research on Cancer (IARC) estimates that the number of new cancer cases in Asia, Europe, North America, Latin America and Caribbean, Africa, and Oceania will surge from 9,503,710 in 2020 to 15,130,778 by 2040, 4,398,443 in 2020 to 5,323,141 by 2040, 2,556,862 in 2020 to 3,525,597 by 2040, 1,470,274 in 2020 to 2,435,315 by 2040, 1,109,209 in 2020 to 2,097,365 by 2040, and 254,291 in 2020 to 375,744 by 2040, respectively.

Besides, the mounting healthcare spending will also encourage the use of transradial access devices in the foreseeable future. According to the World Health Organization’s Global Health Expenditure Database, the global health expenditure per capita surged from $1,064.094 in 2017 to 1,110.268 in 2018. Further, the Organization for Economic Co-operation and Development states that the governments of Australia, Canada, France, Japan, and the Netherlands spent AUD 119,068.3 million, CAD 169,184.6 million, EUR 220,779.3 million, JPY 50,079,461.0 million, and EUR 63,754.0 million, respectively, on healthcare in 2018.

Hospitals and clinics and ambulatory care centers (ACCs) use accessories, catheters, guidewires, and sheaths and sheath introducers on elderly patients and high-risk patients, such as cancer patients, for blood transfusion, drug administration, diagnostics and testing, and fluid and nutrition administration. In the coming years, catheters will be used in enormous quantities, due to the rising cases of coronary artery diseases. For instance, the CDC states that approximately 18.2 million adults aged 20 years and above in America were living with coronary artery disease in 2019.

According to P&S Intelligence, the European region led the transradial access devices market in the preceding years, due to the widescale establishment of outpatient clinics performing transradial intervention with the same-day discharge facility. Healthcare facilities in the region have largely accepted TRI as a default strategy for percutaneous coronary interventions. In the coming years, the U.S., Japan, and China will adopt a significant quantity of transradial access devices, due to the high burden of cancer and the presence of well-developed healthcare infrastructure in these countries.

Thus, the increasing requirement for chemotherapy and the growing elderly population will propel the use of transradial access devices, worldwide.

Browse Full Report Autoimmune Disease Diagnostics Market Top Companies, Trends

Why Texas Generates Highest Revenue in U.S. Endoscope Repair Market?

From $405.6 million in 2021, the U.S. endoscope repair market is predicted to touch $990.7 million by 2030. The market is projected to grow at a 10.4% CAGR from 2021 to 2030 owing to a higher prevalence of respiratory, colorectal, and malignant gastrointestinal (GI) diseases than before; increasing number of hospitals, bettering quality of healthcare services, and highly competitive market players. Moreover, the increasing count of preventive treatments and diagnostic procedures due to a rising geriatric population will pave the way for an extensive usage of endoscopes.

The growing adoption of equipment insurance is one of the major trends in the U.S. endoscope repair market. There is a robust requirement for insurance because of the exorbitant maintenance costs of medical devices. To protect healthcare institutions from heavy losses owing to equipment damage and uncertainties, medical device insurance is offered by numerous corporations. They include DESCO, American International Group Inc., Anco Insurance, Medical Equipment Repair Associates, ProTek Insurance, Cailor Fleming Insurance, and CAN Financial Corporation.

Within the type segment, the U.S. endoscope repair market is bifurcated into the rigid category and flexible category. The flexible category generated the higher revenue in 2021, amounting to approximately 70% of the share. Built with moveable tubes, flexible endoscopes are easier to control. Because a range of tools can be fixed to their tips for various procedures and are lighter in weight, they are utilized in minute operations. Moreover, they permit better access, improved vision, and more comfort for patients. Hence, their extensive usage calls for regular maintenance, thereby driving the demand for insurance.

There is a boundless U.S. endoscope repair market growth opportunity in Texas. The state market is predicted to witness the highest compound annual growth rate from 2021 to 2030. This can be credited to a swift spread of cancer, coupled with a boom in the aged population in the state. Moreover, the Texas Teacher Retirement System (TRS), Department of State Health Services (DSHS), Employees Retirement System (ERS), and Department of Aging and Disability Services (DADS) account for approximately 83% of the annual healthcare expenditure, raising its affordability among the masses.

With the growing count of gastrointestinal and colorectal infection cases, the count of endoscopy procedures for treatment and diagnosis has been surging. The incidence of GI and benign disorders, along with colorectal problems, is on a significant rise. Similarly, disorders including biliary and pancreatic diseases are very much prevalent among the aged population. On account of efficacy and safety concerns, there is an inclination of patients and doctors toward the usage of endoscopes for the diagnosis of tumors.

Hence, a continuous increase in the prevalence of diseases, especially cancer, coupled with a growing geriatric population, will drive the market.

Biopharmaceuticals: An Evolution Underway

Some of the greatest scientific achievements of the contemporary era may be found in biopharmaceuticals. One of the most efficient clinical therapy techniques for various illnesses, such as cancer and metabolic disorders, these medications are increasingly employed in almost all areas of medicine.

Biopharmaceuticals also provide a lot of benefits. For instance, they seldom result in the adverse effects associated with traditional small-molecule medications since they selectively target particular molecules. Biopharmaceuticals have made it easier to treat patients who do not react well to conventional synthetic medications.

Biopharmaceutical vs. Pharmaceutical

There are numerous differences between the pharmaceutical and biopharmaceutical industries. It all boils down to how the products are made. White blood cells or bacteria, among other living things, are used to produce biopharmaceutical goods. On the other hand, chemical-based techniques are used to make medicinal goods.

Browse Full Report Biopharmaceutical Market Size and Trends

All non-communicable and communicable diseases, such as genetic, infectious, and physiological disorders, can be prevented and treated with the help of both product categories. Manufacturers of biopharmaceuticals and pharmaceuticals must quickly get regulatory approval from all significant governing organizations.

Benefits of Biopharmaceuticals

Contrary to many conventional medicines, which have chemical structures unrelated to the human body, biopharmaceutical drugs are fundamentally identical to human molecules.
They target a single system instead of traditional medications that impact several systems; biopharmaceuticals also have fewer adverse effects.
Because bio-pharma allows physicians to customize treatment to the particular medical issues each patient is experiencing, it is transforming how doctors tackle cancer, diabetes, and other disorders.
Future patients will benefit from biopharmaceuticals at levels we can only envision. Biopharmaceuticals will permanently revolutionize how doctors treat illnesses.
Many diseases that currently afflict humanity and reduce lifespans, including cancer, diabetes, and heart disease, may one day be eliminated thanks to biopharmaceuticals.

Mental Wellness Market To Garner $226.1 Billion Revenue in 2030

The mental wellness market has garnered $131.6 billion revenue, and it is projected to generate $226.1 billion in 2030, advancing at a rate of 6.2% from 2021 to 2030.

Brain-boosting nutraceuticals & botanicals are significant revenue contributors to the mental wellness industry. Their contribution is projected to reach $59.2 billion in 2030, rising at a rate of 6%.The mental wellness market has garnered $131.6 billion revenue, and it is projected to generate $226.1 billion in 2030, advancing at a rate of 6.2% from 2021 to 2030. Brain-boosting nutraceuticals & botanicals are significant revenue contributors to the mental wellness industry. Their contribution is projected to reach $59.2 billion in 2030, rising at a rate of 6%.

Browse Full Report Mental Wellness Market Key Market Dynamics

Natural herbals, botanicals, supplements, functional foods, and drinks developed with the specific objective of improving mental health and wellness are emerging in the industry. They come with claims to enhance the sleep cycle, brain health, memory, as well as vitality.Product Demand Driven by Rising Awareness of Stress Management

• Stress impacts the emotional balance as well as the physical health of a person.
• It also affects their capacity to perform successfully, think with clarity, and enjoy life. A major number of people experience stress, including occupational stress.
• Excessive stress may impact the productivity, efficiency, and physical as well as emotional wellbeing of a worker. Therefore, stress management is crucial in workplaces, and the growing awareness of this fact has become a key market driver.

Growing Prevalence of Depression also Propelling Sales Revenue

Under the disorder segment, depression captures the largest share, of around 27%. It is credited to the increasing cases of depression, suicide, and anxiety, which has resulted in the growing concerns over mental health worldwide.

Moreover, depression is a widespread mental disorder, with 5% of the adult population suffering from it globally. It is identified as persistent sadness and lost interest in pleasure and rewarding activities. It can impact the appetite and sleep, thereby giving rise to the common symptoms of tiredness and poor concentration.

How Does Rising Genetic Disorder Prevalence Drive NGS Sample Preparation Market?

In 2021, the NGS sample preparation market size was $1,598.8 million, and with a compound annual growth rate of 14.7%, it is expected to reach $5,501.2 million in the next eight years. The technological advancements in NGS platforms and rising frequency of genetic ailments causing an increase in the demand for DTC genetic testing are the significant drivers. Moreover, the surge in the cases of infectious diseases is positively impacting the market. NGS sample preparation can be defined as the preparation of nucleic acid samples for investigation via next-generation sequencing.

NGS is widely utilized to diagnose genetic ailments; therefore, diagnostic laboratories’ genetic diagnosis consistency and accuracy are the major drivers for the NGS sample preparation market. Advanced genetic diagnostic techniques have enabled prenatal genetic testing. Due to the rising prevalence of genetic disorders, the efficiency of diagnostic screening is being increased. In order to enhance genome sequencing, reliable and high-throughput sample preparation is required, which can be achieved with automated sampling techniques.

The application segment of the NGS sample preparation market is dominated by DNA sequencing, which contributed 30% of the revenue in 2021. The significance of NGS sample preparation in DNA sequencing is high considering its cost-effectiveness and higher efficiency than manual sequencing. The present trend is expected to be followed in the coming years, especially with the COVID-19 pandemic not officially over yet. The NGS technology can be utilized to sequence the entire human or pathogen genome, which has allowed for the identification of COVID spread and mutation within individuals.

The largest revenue contributor in the NGS sample preparation market is North America. The favorable government and private initiatives for encouraging the usage of NGS for diagnosis and prognosis have allowed the regional market to prosper. Further, the region is a major hub for life sciences companies, which leads to the easy availability of products for NGS sampling. Moreover, APAC is expected to witness the fastest growth in the near future, attributed to the advancements in the medical research field and increase in the awareness of such solutions.

Therefore, the rising prevalence of genetic disorders and increasing demand for advanced medical research and genome sequencing are resulting in a boom in the market.

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