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Active Pharmaceutical Ingredient Market to Grow Due to Rising Chronic Diseases

Active Pharmaceutical Ingredient

The active pharmaceutical ingredient (API) market is poised to grow at a CAGR of 6.9% from 2021 to 2030, driven by several factors, including the rising prevalence of chronic disorders, the increasing significance of generic drugs, and the expanding geriatric population. As per P&S Intelligence, the market value is projected to escalate from $184,311.2 million in 2020 to $357,005.7 million by 2030. APIs, defined by the World Health Organization (WHO), are substances or combinations used in pharmaceutical products that induce the desired effects within the body.

One of the primary growth drivers of the market is the increasing incidence of chronic illnesses, including cardiovascular diseases (CVDs), cancer, respiratory conditions, and diabetes. According to WHO, CVDs, cancer, respiratory diseases, and diabetes lead to around 17.9 million, 9.3 million, 4.1 million, and 1.5 million deaths globally every year, respectively, accounting for over 80% of all premature non-communicable disease (NCD) fatalities.

Additionally, the growing elderly population, driven by longer life expectancy and lower mortality rates, is expected to further propel the market’s growth in the coming years. Older individuals often have weakened immune systems, necessitating prolonged recovery times and intensive care, which can be supported through advanced API products. The United Nations Department of Economic and Social Affairs (UNDESA) estimates that the global population of individuals aged 65 and older will rise from 727 million in 2020 to approximately 1.5 billion by 2050.

In the therapeutic application segment, APIs are categorized for use in treating diabetes, pain management, oncology, communicable diseases, CVDs, respiratory illnesses, and more. Among these, the oncology segment led the market revenue in 2020, driven by the growing cases of cancer and the rising demand for highly potent APIs (HPAPIs). According to the International Agency for Research on Cancer (IARC), there were 2.26 million breast cancer cases, 865,630 colorectum cancer cases, 770,828 lung cancer cases, 604,127 cervical cancer cases, and 448,915 thyroid cancer cases diagnosed in women worldwide in 2020.

Market players are currently focusing on product launches and facility expansions to strengthen their presence. For example, Sanofi introduced EUROAPI, a new entity for API development, production, and marketing, in January 2021. Similarly, Sandoz, a Novartis AG division, announced in May 2021 that it would enhance its production capacities in Palafolls, Spain, and Kundl, Austria.

Regionally, North America is expected to dominate the API market during the forecast period, driven by a high prevalence of chronic conditions, a growing number of R&D initiatives, advancements in technology, increased government focus on generics, and a rising demand for specialty drugs and biologics. Additionally, increased public awareness of lifestyle-related diseases, such as diabetes, will contribute to market growth in the region.

In conclusion, the expansion of the geriatric population and the growing incidence of chronic illnesses are significant contributors to the robust growth of the API market.

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Hospital Risk Management Market is Powered by the Increasing Incidence of Medical Errors

Hospital Risk Management Market

The size of the hospital risk management market will touch USD 3,482.3 million by 2030, powering at a rate of 13.5% by the end of this decade. This will prominently be as a result of the growing occurrence of medical errors, together with the high pervasiveness of chronic ailments at a global level.

The cloud-based category had the larger revenue share, more than 80%, in the past. The same category will grow at a higher rate, of about 14%, in the years to come.

This is because of the increasing requirement to endorse interoperability among different hospitals and corporations, to exchange info among databases, applications, and further computer systems and decrease operating costs. Furthermore, the rising acceptance of EHRs, e-prescriptions, mHealth, and telehealth also powers the growth of the industry.

Considering the significance of cloud-based risk management software in hospitals, the key players are participating to reinforce their position through acquisitions. For example, in February 2022, IBM Corporation developed Neudesic LLC to develop its collection of hybrid multi-cloud services.

Large hospitals will have the largest share, of about 60%, in 2030. This will be because of the increasing count of large hospitals, broadcasting hospital spending, and acceptance of EHRs in hospitals. For example, over 90% of the U.S. hospitals are in the procedure of validating EHRs.

Hospital risk management is needed for the suitable functioning of EHR systems, to eliminate the incidence of medical errors. The hospital bed density is the maximum in Japan, South Korea, Russia, and Germany, of about 12.8, 12.4, 8.0, and 7.9 beds per 1,000 populaces, respectively.

North America was the leader of the hospital risk management market. This has a lot to do with the existence of numerous players of industry in the U.S., shifting of the on-premises risk management and further healthcare IT solutions to cloud-based solutions, and mounting usage of data analytics to ease the workflow in hospitals.

Furthermore, the increasing occurrence of medical errors contributes to the high growth of the industry. For example, about 10,000 Americans die because of medication errors in hospitals on a yearly basis. The growing count of medical errors also leads to a high healthcare expenditure, which further powers the growth of the industry.

The U.S. spends about USD 40 billion on a yearly basis on patients afflicted with medication faults. Preventable medical faults in hospital prevail the mortality rate from predictable hazards, for example car accidents, breast cancer, and AIDS.

It is because of the increasing rate of medical errors, the demand for hospital risk management solutions will grow considerably. This trend will continue in the years to come as well.

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Inhalation Anesthetics Industry to Reach USD 2,144.6 Million by 2030

Inhalation Anesthetics Market

In 2021, the inhalation anesthetics market was valued at approximately USD 1,356.0 million and is expected to grow at a 5.2% CAGR from 2021 to 2030, reaching USD 2,144.6 million by 2030, as per P&S Intelligence.

The expansion of this market is primarily driven by the increasing use of inhalation anesthetics, attributed to the growing elderly population susceptible to chronic diseases, the rise in trauma cases, and better access to healthcare services and surgical procedures.

Among end-users, hospitals dominated the market, holding the largest share, and are expected to expand at a CAGR of 5.6% in the coming years. The use of these anesthetics helps reduce hospital stays for patients, as they offer a relatively lower minimum alveolar concentration (MAC), preventing extended hospital admissions.

Additionally, laparoscopic surgeries are linked to lower hospital costs compared to open surgeries. Patients undergoing minimally invasive procedures benefit from shorter hospital stays and fewer readmission costs.

In 2021, sevoflurane accounted for the largest share of the market, about 75.0%, and is anticipated to grow at a CAGR of 5.1% in the near future. This is largely due to its widespread use in anesthesia because of its therapeutic properties. Sevoflurane is an ether-based anesthetic agent known for its low pungency, mild odor, and low blood-gas partition coefficient.

North America led the global inhalation anesthetics market in 2021, driven by advancements in anesthesia and surgical techniques and the availability of innovative medications. Surgeons, manufacturers, and investors in the region are key stakeholders, actively promoting the use of these drugs.

Chronic disease prevalence, particularly cardiovascular conditions and related complications, is rapidly increasing in North America, leading to a higher number of surgeries.

In terms of revenue, Europe held the second-largest market position, with significant growth projected in France. The French anesthetic drug market is poised for expansion, largely due to the healthcare system covering 85–90% of patient costs during surgeries, driving the high usage of inhalation anesthetics.

Thus, the main drivers of the inhalation anesthetics market include the growing aging population prone to chronic diseases, the increase in trauma cases, and the rising availability of healthcare services and surgeries.

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How Does the Rise in Geriatric Population Contribute to Revenue of Patient Temperature Monitoring Industry?

Patient Temperature Monitoring Market

In 2021, the patient temperature monitoring market generated $3,294.8 million in revenue, and it is expected to grow to $6,039.3 million by 2030, advancing at a 7% rate. This growth is driven by the increasing demand for non-invasive, non-traumatic, and hygienic devices that provide accurate temperature readings. Handheld temperature monitoring devices hold a 27% share of the market, thanks to the convenience they offer patients.

The rising prevalence of chronic and infectious diseases like diabetes, cancer, and cardiovascular conditions is further driving the demand for temperature monitoring devices. It is estimated that over the next decade, chronic diseases will claim 5 million lives in the U.K., underscoring the importance of regular temperature monitoring for effective disease management.

In the U.S., as of 2020, 6 out of 10 people had at least one chronic condition, while 4 out of 10 had two or more. This makes temperature monitoring vital for early diagnosis. The link between temperature fluctuations and the occurrence of illnesses is expected to boost demand for temperature monitoring systems.

The COVID-19 pandemic has significantly boosted the temperature monitoring market due to the rising need for such devices. Manufacturers are increasing the production of digital thermometers, which provide accurate and reliable temperature readings. These devices now feature improved technology, reducing errors and fluctuating results. For instance, in February 2020, Xiaomi introduced a non-contact infrared thermometer capable of measuring temperature in just one second with an accuracy of 0.2 degrees.

Non-invasive temperature monitoring systems account for a substantial portion of the market, generating $1,892.9 million in revenue, with a projected growth rate of 7.3%. The demand for non-invasive devices is increasing due to their ease of use, accurate readings, and user comfort.

The growing demand for oral temperature monitoring is driving the sales of oral thermometers, offering an opportunity for manufacturers to introduce new products. Additionally, temporal artery and axillary thermometers are gaining popularity for their simplicity, quick results, and minimal invasiveness, further boosting the market.

Within the application segment, fever management (pyrexia) drives the highest demand, accounting for a 30.1% market share. The rise in the elderly population, coupled with trauma and hemolysis cases, is fueling the demand for temperature monitoring equipment. Fever, often accompanied by fatigue, dehydration, and increased pain sensitivity, is becoming more prevalent, further supporting the market’s growth.

North America is a key region for patient temperature monitoring systems, generating $1,077.0 million in revenue. The market here is expected to grow at a rate of 6.9%, driven by the presence of major industry players, high disposable income, increased surgical procedures, and rising blood donations and transfusions.

Overall, the growing prevalence of chronic and infectious diseases, with high body temperature as a major symptom, continues to propel the patient temperature monitoring industry forward.

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Global Endoprosthesis Market Grows with Increasing Elderly Population

Endoprosthesis Market

The endoprosthesis market is expected to grow at a 12.1% CAGR, reaching USD 65,997.9 million by 2030. This growth is driven by an increase in peripheral vascular diseases and orthopedic conditions. Furthermore, rising awareness among patients about the benefits of prostheses for orthopedic injuries, combined with a growing prevalence of knee and hip osteoarthritis in the elderly, is expected to further propel the market.

The knee prosthesis segment has historically dominated the market and is projected to grow at an impressive 13% CAGR by 2030. Knee osteoarthritis is one of the primary causes of disability among the elderly, and knee replacement surgeries are gaining popularity due to increased access to orthopedic care, particularly in emerging markets like the Asia-Pacific region. According to a recent study, knee osteoarthritis affects approximately 16% of individuals aged 15 and above and 22.9% of those aged 40 and older globally.

Additionally, the hip endoprosthesis segment accounted for over 20% of the market in the past. This category is expected to grow further due to the rising incidence of hip osteoarthritis and the demand for personalized implants. As implant sizes vary according to each patient’s anatomy, many companies are focusing on 3D printing technologies to produce patient-specific implants.

In 2021, the primary knee replacement segment held a significant market share, around 40%, and is expected to maintain steady growth. Primary knee replacement surgeries involve replacing damaged bones and cartilage with metal, high-density polyethylene, or ceramic implants. This procedure enables patients to resume daily activities and helps manage conditions like osteoporosis and musculoskeletal disorders by providing improved stability and support, reducing the risk of falls.

The Asia-Pacific region had a market size exceeding USD 5 billion and is set to grow at over 13%. The rapid expansion of the elderly population in the region over the next five decades will drive this growth. Globally, the demand for endoprostheses is rising due to the increasing prevalence of peripheral vascular and orthopedic diseases, a trend that is expected to continue.

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Pharmaceutical Analytical Testing Outsourcing Market Set for 9% Growth by 2030

Pharmaceutical Analytical Testing Outsourcing Market

The global pharmaceutical analytical testing outsourcing market was valued at $7,594.3 million in 2021 and is projected to grow at a rate of approximately 9%, reaching around $15,815 million by 2030. This growth is driven by advancements in the pharmaceutical sector, increased focus on safety and regulatory compliance, rising demand for testing services, and cost advantages of outsourcing.

The demand for bioanalytical services is expected to rise significantly, influenced by evolving regulations for in-vitro and in-vivo testing, as well as the complexities of these assessments. The growing need for biosimilars, combination therapies, and novel drugs has amplified the requirement for specialized tests such as electrochemical, electrophoresis, titrimetric assays, and immunoassays.

Pharmaceutical companies accounted for 48% of the market share historically, as many lack the resources to conduct in-house testing. Outsourcing analytical testing allows these companies to focus on core operations while saving time and resources. In the future, biopharmaceutical firms are expected to grow at the fastest rate, around 9%. These businesses require analytical testing for optimizing production, ensuring quality in biosimilars and biologics, and fulfilling regulatory requirements. The increasing demand for expert personnel to perform assays and handle regulatory filings is further driving the outsourcing trend in the biopharmaceutical sector.

North America held the largest share of the market, about 53%, due to its advanced pharmaceutical manufacturing hubs and increasing production to meet healthcare demands. Europe’s market is thriving with the adoption of cutting-edge microbial manufacturing technologies, while emerging nations collaborate with Western companies to build local capacities through services like clinical research and drug development.

Meanwhile, the Asia-Pacific region is expected to witness the fastest growth, driven by significant investments, expansion in the pharmaceutical industry, and the presence of major outsourcing centers in China, India, and the Philippines. China has become a preferred outsourcing destination for Japan’s nearshore and onshore clients due to its attractive delivery capabilities.

With rising drug consumption and increasing R&D activities, the demand for pharmaceutical analytical testing outsourcing continues to grow globally.

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Media & Entertainment Sector Boosts Generative AI Growth

Generative AI Industry

The global generative AI market reached USD 15.6 billion in 2024 and is expected to surge to USD 81.1 billion by 2030, showcasing a robust compound annual growth rate (CAGR) of 31.6% during the forecast period. This rapid growth is fueled by the technology’s potential to revolutionize industries through automation and innovation.

Generative AI leverages algorithms capable of producing realistic content by analyzing training data like images, text, and audio. A well-known example is ChatGPT, which is trained on vast datasets to perform tasks such as text summarization, sentiment analysis, and question answering.

Generative Adversarial Networks (GANs) focus on generating new data that closely mimics real-world datasets. Rather than expanding basic AI systems, these advanced methods emphasize deep learning to produce data samples. These models are multi-modal, meaning they can manage several processes at once, significantly enhancing human-machine interaction through natural language processing (NLP).

A key factor driving the growth of the generative AI industry is the development of large language models (LLMs) due to their superior ability to generate, manipulate, and comprehend natural language.

In 2023, the software segment led the market with a revenue share of approximately 55%. Software forms the backbone of generative AI, providing essential algorithms, tools, and frameworks. The natural language processing (NLP) category is also a major player, projected to grow at a CAGR of 31.8% during the forecast period. Advances in NLP are transforming applications such as chatbots, content creation, and AI systems.

The media and entertainment sector is currently the largest end user, and this category is expected to grow at an impressive CAGR of 40% during the projection period. The rapid adoption of AI tools in this sector is driving significant improvements in content creation and distribution.

In 2023, North America held the largest market share, accounting for about 50%. The region’s advanced technological infrastructure, combined with its ability to nurture disruptive AI companies, has positioned it as a leader in the generative AI space. Additionally, rising concerns over banking fraud, increasing healthcare demands, and the growth of pseudo-creativity are further contributing to North America’s dominance in the market.

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The Expanding Global Market for Contrast Media: Key Trends and Insights

In the evolving landscape of medical diagnostics, contrast media play a crucial role in enhancing imaging accuracy. These substances, administered before imaging procedures, have seen a significant rise in demand due to their pivotal role in diagnostic imaging. Valued at USD 5,781.9 million in 2024, the global contrast media market is expected to grow to USD 7,647.7 million by 2030, at a CAGR of 4.8%.

Importance of Contrast Media
The demand for contrast media has grown substantially in recent years, driven by advances in medical imaging technologies and an increased focus on accurate early diagnosis. Oncologists, radiologists, and other medical professionals increasingly rely on contrast-enhanced imaging to identify abnormalities that may not be visible in standard scans.
This surge is fueled by the growing prevalence of complex diseases such as cancer and vascular disorders. Contrast media allow for a more detailed understanding of anatomical structures, aiding early detection and precise diagnoses.
Moreover, the aging global population contributes to this demand, as older individuals often require detailed diagnostic imaging for multiple health conditions. The need for non-invasive diagnostic methods further drives demand for contrast-enhanced imaging.

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Advantages of Contrast Media

  • Enhanced Diagnostic Accuracy: Contrast media improve the visibility of tissues and blood vessels in imaging studies, allowing healthcare professionals to detect abnormalities with greater precision, leading to timely diagnoses.
  • Early Disease Detection: Contrast-enhanced imaging helps in the early identification of diseases like vascular conditions, tumors, and inflammation, which can significantly improve patient outcomes.
  • Optimized Treatment Planning: By providing clearer images, contrast media assist in planning surgeries, radiation therapy, and other interventions, enabling more targeted and effective treatments.
  • Reduced Invasive Procedures: The use of contrast-enhanced imaging reduces the need for invasive diagnostics, offering detailed information without the need for exploratory surgery or biopsies, enhancing patient comfort and reducing healthcare costs.

Research and Advancements
The rising demand for contrast media continues to spur research and development in medical imaging. This has led to the creation of new and improved contrast agents, enhancing imaging capabilities and diagnostic precision.

North America Leads the Market
North America dominates the contrast media market, contributing approximately 45% of global revenue. The growth in inpatient procedures, robust healthcare infrastructure, comprehensive disease screening programs, and access to cutting-edge technologies drive the market’s expansion in the region. Additionally, the presence of major industry players further fuels this growth.

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Leukapheresis Market to Reach $136.3 Million by 2030: Key Growth Drivers

Leukapheresis Market

In 2024, the global leukapheresis market generated USD 79.9 million in revenue, and it is anticipated to grow at a 9.3% Compound Annual Growth Rate (CAGR) from 2024 to 2030, ultimately reaching USD 136.3 million by 2030.

This market expansion is driven by several factors, including the increasing prevalence of leukemia and other blood-related disorders, rising government initiatives promoting cancer awareness, a growing global volume of blood donations, rapid advancements in technology, and heightened research on leukoplakias for use in clinical studies.

Leukapheresis is a medical procedure used to treat chronic lymphocytic leukemia and other blood cancers. The rising number of leukemia patients, largely due to sedentary lifestyles, smoking, and exposure to radiation and harmful chemicals, is contributing to the market’s growth. Additional risk factors include infections from HIV, Epstein–Barr virus, and human T-cell leukemia/lymphoma virus.

Governments worldwide are implementing various initiatives to combat leukemia, starting with increasing awareness about the disease. In addition, several governments have introduced reimbursement policies and established specialized cancer hospitals and oncology centers.

Another significant factor driving the leukapheresis market is the growing number of blood donors globally. Blood components such as platelets and red blood cells (RBCs) can be replaced through transfusions using donor blood.

Leukemia patients often undergo chemotherapy, which can temporarily damage their immune systems and blood cells. As a result, leukapheresis serves as a crucial supplementary treatment, as donated blood provides healthy white blood cells (WBCs) and RBCs to cancer patients. The growing number of blood donations worldwide is simplifying this process.

The market is segmented into disposables and devices based on product type, with disposables dominating the market in recent years. This trend is expected to continue, as the increasing prevalence of leukemia drives the demand for leukapheresis disposables. Proper use of disposables also helps reduce the risk of infections during blood transfusions.

North America held the largest market share in recent years, accounting for approximately 50% of the global leukapheresis market. The region is expected to maintain its dominance, driven by significant research and development (R&D) activities in the biotechnology and pharmaceutical sectors. Additionally, the presence of numerous market players, healthcare professionals, and ongoing CAR T-cell therapy clinical trials further strengthens North America’s position. The region’s susceptibility to infectious and pandemic diseases also contributes to its market growth.

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SMEs Drive Growth in Managed SIEM Market with Focus on Cybersecurity

Managed SIEM Services Market

In 2023, the managed SIEM services market was valued at USD 7,531.7 million, and it is projected to surge to USD 21,707.2 million by 2030, growing at a compound annual growth rate (CAGR) of over 16.5%.

The increasing prevalence of cyber fraud is driving the demand for enhanced security solutions, contributing to the expansion of the market. A U.K.-based IT firm reported that in 2021, global cyberattacks surged by 125% compared to the previous year. Among various fraud types, including phishing, malware, ransomware, botnets, and data breaches, phishing remains the most widespread. In 2021, over 300,000 internet users reported phishing attacks, and in 2022, approximately 80% of businesses were targeted by phishing attempts.

SIEM is a comprehensive technology that provides round-the-clock network monitoring, early breach alerts, threat detection, and other crucial security measures. It enables businesses to maintain compliance by consolidating data related to PCI DSS, GDPR, and ISO into a centralized system.

Cloud deployment is emerging as a key trend for businesses, driven by its ability to meet organizational needs efficiently. However, as the digital landscape continues to evolve, cloud security risks are becoming more sophisticated. Consequently, cloud service providers are taking proactive measures to ensure server integrity and security.

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Market Insights:

  • The co-managed SIEM category led the market due to its collaborative approach between managed security service providers (MSSPs) and organizations.
  • Cloud-based SIEM solutions accounted for around 70% of the market in 2023, driven by their scalability, accessibility, and reliability.
  • Companies are increasingly adopting cloud solutions to enhance operational efficiency through digital transformation strategies.
  • Small and medium-sized enterprises (SMEs) are expected to grow at a faster CAGR, as they prioritize cybersecurity.
  • The log management and reporting segment plays a critical role by collecting, analyzing, and managing data to provide insights for troubleshooting, security, and performance improvements.
  • The BFSI sector held the largest market share in 2023 and is expected to grow at a 17.2% CAGR, as it remains highly susceptible to cyberattacks.
  • The Asia-Pacific (APAC) region is set to witness the fastest growth, driven by rapid digital transformation, increasing internet connectivity, and rising adoption of cloud technologies.
  • As cyber threats evolve and awareness of cybersecurity increases, businesses are investing in more proactive safety measures.
  • Market competition is intensifying as established players diversify their offerings and new companies introduce innovative solutions.