#Wearable Medical Devices Market Share

[industryforecastnews]

Wearable Medical Devices Market To Reach USD 168.29 Billion By 2030

Wearable Medical Devices Market Growth & Trends

The global wearable medical devices market size is anticipated to reach USD 168.29 billion by 2030 and is anticipated to expand at a CAGR of 25.66% during the forecast period, according to a new report by Grand View Research, Inc. The market is experiencing growth driven by an increasing demand for high-tech products and the growing trend of continuous health monitoring.

The rising obesity rate and a heightened awareness of physical fitness, is motivating individuals to engage in workouts and adopt fitness-related activities. Wearable devices like smartwatches and smart bands play a crucial role in monitoring various fitness parameters, including calories burned, step count, heart rate, and distance covered. Companies such as Google, Fitbit, Apple, and Nike are actively launching innovative products, particularly focusing on smartwatches and wristbands, contributing to a surge in product availability.

The COVID-19 pandemic has positively impacted the market, driven by the increased demand for telemedicine. WHO guidelines promoting social distancing and discouraging public gatherings have led to a preference for telemedicine among physicians, enabling remote patient treatment without the risk of virus transmission. The growth of telemedicine, coupled with the integration of artificial intelligence (AI) into its systems, has further propelled the expansion of the wearable medical device market.

The escalating prevalence of chronic diseases and rising mortality rates are causing major concern, prompting healthcare providers to focus on personalized care, particularly through continuous remote patient monitoring. Wearable medical devices, capable of 24-hour wear without disrupting daily routines, are gaining traction due to their various advantages. Consequently, the demand for these devices is expected to surge over the forecast period.

Wearable medical devices are playing a pivotal role in the cardiovascular device market. These innovative technologies, ranging from smartwatches to continuous monitoring devices, offer new avenues for real-time health tracking, early detection of cardiovascular issues, and personalized patient care. The integration of wearable devices in cardiovascular healthcare reflects a transformative shift towards preventive and proactive healthcare solutions, ultimately enhancing patient outcomes and disease management.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/wearable-medical-devices-market

Regional Insights

North America accounted for the largest revenue share in 2023, owing to the growing prevalence of cardiovascular disorders, diabetes, and cancer within this region. High adoption of remote patient monitoring and home care devices for regular, continuous, and long-term monitoring of patients and reducing the frequency of hospital visits are anticipated to fuel market growth over the forecast period.

The market is expected to witness exponential growth in Asia Pacific over the forecast period. Significant factors boosting market growth are favorable government initiatives for using such wearable medical instruments, increasing geriatric population base, and increasing healthcare expenditure in this region. Japan held the largest share of the remote patient monitoring devices market in the Asia Pacific region in 2023. It is expected to maintain its dominance over the forecast period due to rapid technological advancements and the growing requirement for home care devices and round-the-clock monitoring. Japanese firms place a high value on health, skincare, and all human consumables.

Wearable Medical Devices Company Insights

By introducing groundbreaking technologies, key wearable medical device companies are significantly impacting the market. Innovations such as advanced wearable medical device sensors, continuous monitoring capabilities, and integration with artificial intelligence are reshaping the landscape. Industry leaders leverage these technologies to enhance the accuracy and range of health metrics that wearable devices can track. Moreover, the incorporation of data analytics and cloud connectivity enables seamless data sharing, improving the overall healthcare ecosystem. This technological evolution propels the market's growth. It contributes to improved patient outcomes, personalized healthcare, and the transformation of wearable medical devices into indispensable tools for consumers and healthcare providers.

Wearable Medical Devices Market Report Highlights

The diagnostic devices segment emerged as the market leader in 2023, driven by rising disposable income, increased awareness, and higher healthcare spending

Straps, clips, bracelets, and watches constitute the largest and fastest-growing segment of the market

Home healthcare secured a substantial share of 53.6% in 2023, propelled by a growing geriatric population contributing to higher incidence rates of target diseases

North America held the largest revenue share in 2023, primarily due to the expanding home care applications and remote patient monitoring for regular, continuous, and long-term patient monitoring

The Asia-Pacific region is poised to experience the fastest growth over the forecast period, attributed to increasing awareness levels, rising disposable income, a large population base, and an increasing incidence rate of chronic conditions

Wearable Medical Devices Market Segmentation

Grand View Research has segmented the global wearable medical device market based on product, site, application, distribution channel, grade type, and region:

Wearable Medical Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

Diagnostic Devices

Therapeutic Devices

Wearable Medical Devices Site Outlook (Revenue, USD Million, 2018 - 2030)

Handheld

Headband

Strap/Clip/Bracelet

Shoe Sensors

Others

Wearable Medical Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

Sports & Fitness

Remote Patient Monitoring

Home Healthcare

Wearable Medical Devices Grade Type Outlook (Revenue, USD Million, 2018 - 2030)

Consumer-Grade Wearable Medical Devices

Clinical Wearable Medical Devices

Wearable Medical Devices Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

Pharmacies

Online Channel

Hypermarkets

Wearable Medical Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

List of Key Players in Wearable Medical Devices Market

Koninklijke Philips N.V.

Fitbit

Basis Science

Garmin

Covidien (Medtronic)

Omron Corp.

Withings

Vital Connect

Polar Electro

Everist Genomics

Intelesens Ltd.

Sotera Wireless

Apple

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/wearable-medical-devices-market

[market-spy]

Wearable Medical Devices Market to Surpass USD 249.97 Billion by 2031, Witnessing 25.40% CAGR Growth | SkyQuest Technology

SkyQuest projects that Global Wearable Medical Devices Market will attain a value of USD 209.96 Billion by 2031, with a CAGR of 25.7% over the forecast period (2024-2031). The risk is high that sedentary behaviour leads to more lifestyle diseases such as high blood pressure and diabetes which in turn require for consistent observation of body functioning. The advent of wearable medical devices combines different health parameters thereby allowing doctors a chance to prevent errors while attending to patients in real-time. The increasing number of deaths from non-communicable diseases raises the necessity for personalized monitoring and treatment, thereby increasing need for wearable medical devices. Download a detailed overview: https://www.skyquestt.com/sample-request/wearable-medical-devices-market

Browse in-depth TOC on the " Wearable Medical Devices Market "

Wearable Medical Devices Market Overview:

Report Coverage

Details

Market Revenue in 2023

$40.88 Billion

Estimated Value by 2031

$249.97 Billion

Growth Rate

Poised to grow at a CAGR of 25.7%

Forecast Period

2024–2031

Forecast Units

Value (USD Billion)

 Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Product Type, Site, Application, Grade Type, and Distribution Channel

Geographies Covered

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Report Highlights

Reducing the expense of treating chronic illnesses

Key Market Opportunities

Improved novel innovations like artificial intelligence and IoT

Key Market Drivers

Increase in the elderly population and awareness among people

Real-Time Health Monitoring Allows Diagnostic Devices to Hold a High Market Share

Diagnostic devices are leading the global wearable medical device market led by technological advancements and increased consumer health awareness in terms of their improved early disease detection capabilities and real-time health surveillance. Growing investments in healthcare technology and the increasing incidence of chronic illnesses, which are needed for ongoing health tracking systems, support this dominance even more.

Demand for Remote Patient Monitoring in Home Healthcare Allowing them to Emerge as a Dominant Segment

The ageing population and the need to cut down on hospital visits have created a growing need for individualised treatment and remote patient monitoring, which has led to a dominance of home healthcare applications in the global wearable medical devices market. There are many factors which make telemedicine dominate over other forms in healthcare; these include; ease in managing medical conditions from one’s home/clinic as well as being affordable.

Remote Patient Monitoring and Home Care Devices Allowing North America to Spearhead Demand

The market for wearable medical devices is dominated by North America, which is expected to grow at a fast pace over the course of the forecast period due to the region's widespread usage of home care and remote patient monitoring technologies. Long-term, ongoing patient monitoring is reducing the number of hospital visits. Compared to men, women are considerably more likely to consistently use these devices (25% vs. 18%).

Request Free Customization of this report: https://www.skyquestt.com/speak-with-analyst/wearable-medical-devices-market

Wearable Medical Devices Market Insight

Drivers:

Increase in the Elderly Population and Awareness among People

Home Healthcare for Covid-19 Pandemic

Increasing Prevalence of Chronic Diseases

Restraints:

Government Stringent Rules and Regulations

High Cost of Maintenance of Wearable Medical Devices

Interoperability and Compatibility Issues

Prominent Players in Wearable Medical Devices Market

ADIDAS AG (Germany)

Nike, Inc. (US)

LG Electronics (South Korea)

Motorola Solutions, Inc. (US)

Fossil Group, Inc. (US)

Google LLC (US)

Polar Electro (Finland)

Withings (France)

Michael Kors (US)

CASIO AMERICA, INC. (US)

View Report Summary and Table of Contents (TOC): https://www.skyquestt.com/report/wearable-medical-devices-market

Key Questions Answered in Global Wearable Medical Devices Market Report

What is SkyQuest's estimated 2031 market value for wearable medical devices worldwide?

Which two major variables account for most diagnostic devices in the market for wearable medical devices?

Which geographic region is anticipated to have the most demand for wearable medical technology, and why?

This report provides the following insights:

Analysis of key drivers (Chronic diseases that are escalating, providing individualized care, healthcare practitioners using continual patient monitoring and general fitness is becoming more popular), restraints (Less modest uptake of medical wearables, retail prices of it are often high and manufacturing & distribution are limited), opportunities (Improved AI & IOT devices, carefully identifying vitals & monitoring personal health and growing product innovations), and challenges (Inadequate regulatory standardization and issues related to accuracy & analysis of wearable-generated data) influencing the growth of wearable medical devices market

Market Penetration: Comprehensive information on the product portfolios offered by the top players in the wearable medical devices market

Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the wearable medical devices market

Market Development: Comprehensive information on lucrative emerging regions

Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market

Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:

Mr. Jagraj Singh

Skyquest Technology

1 Apache Way,

Westford,

Massachusetts 01886

USA (+1) 351-333-4748

Email: sales@skyquestt.com

Visit Our Website: https://www.skyquestt.com/

[health-views-updates]

Wearable Medical Devices Market Future: Key Trends and Opportunities

Wearable Medical Devices Market Outlook, Scope & Overview:

Industry reports indicate that the global wearable medical devices market was valued at USD 33.84 billion in 2023 and is projected to reach USD 210.51 billion by 2031, growing at a CAGR of 25.67% over the forecast period 2024-2031.

Technological Advancements to Drive Growth of Global Wearable Medical Devices Market

The adoption of wearable medical devices will continue to influence global market revenues. Healthcare providers and consumers are increasingly utilizing wearable devices for continuous health monitoring, chronic disease management, and preventive healthcare.

As a product segment, fitness and activity trackers currently hold a significant share of the global wearable medical devices market. This segment is anticipated to grow at a year-over-year rate of 25.67% in 2024 over 2023 and reach USD 210.51 billion in revenues by 2031. The increasing prevalence of lifestyle-related diseases, coupled with advancements in sensor technologies, is expected to drive market growth.

Wearable Medical Devices Solutions – Market Dynamics

Drivers:

Wearable medical devices are witnessing significant growth in the global market due to their ability to provide real-time health monitoring, enhance patient engagement, and improve health outcomes. The growing adoption of digital health technologies, rising healthcare costs, and the shift towards personalized medicine are key factors driving the adoption of wearable medical devices worldwide. Additionally, the increasing elderly population and the need for home-based healthcare solutions are further propelling market growth.

Restraints:

Despite the growth potential, challenges such as data privacy concerns, high initial costs, and the need for reliable connectivity are hindering the widespread adoption of wearable medical devices. Moreover, regulatory and reimbursement issues, as well as the need for healthcare professionals to adapt to new technologies, pose additional challenges to market expansion.

Wearable Medical Devices Solutions – Market Outlook

The proven benefits of wearable medical devices in improving patient outcomes, enabling remote monitoring, and supporting chronic disease management have contributed to the market's growth. Wearable medical devices are expected to witness increased adoption across major healthcare markets, including North America, Europe, and Asia Pacific, driven by technological advancements and the increasing focus on preventive healthcare.

Global Wearable Medical Devices Market

The rise in demand for wearable medical devices in developed and emerging markets is expected to drive market growth over the forecast period. North America currently holds a significant market share in the global wearable medical devices market, with the US being a key contributor to market revenues. Europe and Asia Pacific regions are also experiencing rapid adoption of wearable medical devices, supported by favorable regulatory frameworks and increasing investments in digital health infrastructure.

Key Players in the Wearable Medical Devices Solutions Market

Leading companies in the wearable medical devices solutions market include Fitbit (Google LLC), Apple Inc., Garmin Ltd., and Samsung Electronics Co., Ltd. These companies are at the forefront of developing and commercializing advanced wearable technologies for various healthcare applications, including fitness tracking, heart rate monitoring, and chronic disease management.

In conclusion, the global wearable medical devices market is poised for substantial growth over the forecast period, driven by technological advancements, increasing healthcare digitization, and the expanding adoption of digital health solutions in medical diagnostics and treatment planning.

Other Trending Reports

Spirometer Market Share by Company

Microservices in Healthcare Market Share by Company

Healthcare Consulting Services Market Share by Company

Oncology Drugs Market Share by Company

[blogaarti]

Wearable Medical Devices Market Opportunities, Trends, Applications, And Growth Forecast To 2029

The rise of sedentary lifestyle and lack of early diagnosis has emerged as a leading cause for development of chronic ailments. Growing incidence of high blood pressure, diabetes, cardiovascular diseases, cancers, and respiratory diseases have voiced concerns to curtail these growing numbers. Such an alarming rise has a significant economic burden for individuals and healthcare systems alike. Consequently, this has necessitated the need for timely routine checkups and diagnosis to curtail the occurrence of lifestyle diseases. Likewise, various healthcare providers are actively making efforts to ensure a better and detailed view of individual health and vitals. Wearable medical devices facilitate swift diagnosis and help in keeping a tab of a person's health vitals.

 For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/wearable-medical-devices-market

 Growing Awareness of Wearable Medical Devices to Unlock Seamless Possibilities 

Growing geriatric population and changing lifestyles have triggered the development of chronic diseases among individuals. Considering the increasing rates of chronic diseases, various regional and national healthcare agencies are initiating several awareness campaigns and programs. To this end, people are becoming more aware and informed of wearable medical devices to be used for consistent monitoring and diagnostic purposes. Such a landscape has created tremendous demand for wearable medical devices at a global level, to enhance healthcare outcomes. Nonetheless, manufacturers are actively capitalising on this opportunity to roll out new devices with more efficient techniques and better capabilities. The drive to improve monitoring, maintaining, and tracking human vitals is projected to create headways for research and development in the wearable medical devices market.

 Higher Propensity to Staying Fit and Adopting Smarter Devices Bodes Well for Wearable Medical Devices Market 

Growing inclination toward fitness regimes to boost body immunity and need for better diagnosis have surged the adoption of wearable medical devices. People demonstrate a higher propensity to use wearable devices such as smartwatches to monitor heartbeat and pulse changes, oxygen capacity of lungs, and blood pressure. Premium clinical mobility and greater acceptability of high-tech products are setting the tone for wearable medical devices market expansion. Besides, wearables are gradually becoming a trend and style statement which has further fuelled the worldwide demand for wearable medical devices. In the coming years, the ascending demand coupled with growing need for better diagnosis and monitoring are expected to unlock newer revenue streams for the wearable medical devices market.

 North America to Reign Supreme Amid Growing Mortality Rates and Lifestyle Disorders 

Over the forecast period, the demand for wearable medical devices is likely to remain high in the developed economies of North America. Increase in lifestyle disorders and improper diet regimes are at the vanguard of demand for these devices. Noticeably, higher mortality rates and increasing lifestyle disorders are major reasons for incidence and prevalence of chronic disorders. Higher GDP per capita, favourable government initiatives and sophisticated medical infrastructure are creating headways for novel developments across the healthcare sector. Such a landscape has propelled North America to hold a dominant position in the global wearable medical devices market.

 Key Market Players 

Some of the major players operating at the forefront of the global Wearable Medical Devices Market include Apple Inc., Fitbit Inc., Philips, Ypsomed, Sonova, Becton Dickinson, Omron Healthcare Inc., Samsung, AiQ Smart Clothing, and NeuroMetrix Inc.

 For More Information Visit: https://www.fairfieldmarketresearch.com/report/wearable-medical-devices-market

 Other Latest Trading Reports

·       Sports Analytics Market Global Industry Analysis (2019 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

·       Stevia Market Global Industry Analysis (2019 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

·       Gas Turbine Upgrades for Performance Enhancement Market Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

·       Flooring Market Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)

·       Carbon Black Market Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)

 About Us

Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.  

[marketinsightshare]

Wearable Medical Devices Market - Forecast(2022 - 2027)

Wearable Medical Device Market size is estimated to reach $52.2 billion by 2026, growing at a CAGR of 26.8% during the forecast period 2021-2026. Wearable medical device is a noninvasive and performs a medical function such as monitoring and support for various activities of the patients over a prolonged period. These devices are used to continuously track the health condition of the patients. Wearable medical devices are increasingly being adopted to monitor medical issues owing to the rise in the prevalence of lifestyle diseases, such as hypertension and obesity. The rise in the adoption of advanced activity monitors to track the overall health, growing demand for smart watches among sports and fitness enthusiasts, increase in the demand for remote patient monitoring devices to send communication between providers and patients, and rising demand for therapeutic devices in developed nations are the factors that are set to drive the growth of the Wearable Medical Device Market for the period 2021-2026.

Report Coverage

The report: “Wearable Medical Device Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Wearable Medical Device Market.

By Type: Activity Monitors, Smart Watches, Smart Clothing, and Patches.

By Device Type: Diagnostic and Monitoring Devices and Therapeutic Devices.

By Application: Sports and Fitness, Remote Patient Monitoring, Home Healthcare, and Others.

By Distribution Channel: Pharmacies, Online Channels, Supermarkets/Hypermarkets, and Others.

By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (Middle East and Africa).

Key Takeaways

Geographically, North America Wearable Medical Device Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the growing demand for smart watches among sports and fitness enthusiasts.

The rise in the adoption of activity trackers in home healthcare in developed nations is driving the Home Healthcare segment. However, the high cost of wearable medical devices is one of the major factors that is said to reduce the growth of the Wearable Medical Device Market.

Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Wearable Medical Device Market report.

Wearable Medical Device Market: Market Share (%) By Application, 2020

For more details on this report - Request for Sample

Wearable Medical Device Market Segment Analysis-By Type

The Wearable Medical Device Market based on the Type can be further segmented into Activity Monitors, Smart Watches, Smart Clothing, and Patches. The Activity Monitors segment held the largest share in 2020 owing to the factors such as the growing demand for advanced activity monitors to track the overall health and rise in the research and development activities by key players. The rise in the adoption of fitness trackers to monitor heart rate is driving the growth of the Wearable Medical Device Market. The Smart Watches segment is estimated to be the fastest growing segment with a CAGR of 34.2% over the period 2021-2026. This growth is owing to the factors such as the growing adoption of smart watches among sports and fitness enthusiasts and the rise in the product launches by key players.

Wearable Medical Device Market Segment Analysis-By Application

The Wearable Medical Device Market based on the Application can be further segmented into Sports and Fitness, Remote Patient Monitoring, Home Healthcare, and Others. The Home Healthcare segment held the largest share in 2020 owing to the factors such as increase in the adoption of activity trackers in home healthcare in developed nations and rise in the investment by the key players to develop advanced devices for home healthcare. The growing need for home healthcare to curb healthcare expenditure is driving the growth of the Wearable Medical Device Market. The Remote Patient Monitoring segment is estimated to be the fastest growing segment with a CAGR of 31.5% over the period 2021-2026. This growth is owing to the factors such as the growing adoption of remote patient monitoring devices to send communication between providers and patients and increase in the demand for advanced smart watches among the young population in developed nations.

Wearable Medical Device Market Segment Analysis-By Geography

The Wearable Medical Device Market based on the Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. North America held the largest share with 33% of the overall market in 2020. The growth in this segment is owing to the factors such as the rise in the adoption of advanced activity monitors to track the overall health and the growing demand for therapeutic devices in developed nations. The increase in the demand for smart watches among sports and fitness enthusiasts is driving the growth of the Wearable Medical Device Market. Asia-Pacific segment is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as growing demand for remote patient monitoring devices to send communication between providers and patients and rise in the investment by the key players to develop advanced wearable medical devices.

Wearable Medical Device Market Drivers

Increase in the Adoption of Fitness Trackers.

The rise in health consciousness among individuals has propelled the demand for fitness and activity trackers owing to their ability to generate detailed info graphics and reports. These trackers have built in screens, vibrating alarms, and history tracking that makes it easy for customers to check their progress without interrupting any workout sessions, which is one of the major factors driving the growth of the Wearable Medical Device Market.

Rise in the Demand for Remote Patient Monitoring Devices.

Remote patient monitoring devices are increasingly being adopted in developed nations owing to their ability to take the stress out of healthcare for a wide range of patients. Remote patient monitoring devices help all kinds of specialists in doing their job more efficiently by sending communication between providers and patients. The growing demand for advanced smart watches among the young population in developed nations is further propelling the growth of the Wearable Medical Device Market.

Wearable Medical Device Market Challenges

High Cost of Wearable Medical Devices.

The key players in the market are collaborating with other players to carry out various research and development activities for launching advanced products for monitoring various activities. However, the high cost of wearable medical devices is one of the major factors that is estimated to reduce the growth of the Wearable Medical Device Market.

Wearable Medical Device Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by wearable medical device manufacturers along with improving wearable medical device technologies in the Wearable Medical Device Market. Key companies of this market are Koninklijke Philips N.V., Zephyr Technology Corporation, Fitbit, Omron Healthcare, Polar Electro, LifeWatch AG, Sotera Wireless, Intelesens Ltd, Withings, and Vital Connect among others.

Acquisitions/Product Launches:

In August 2020, Fitbit has launched three new wearable’s to manage health by unlocking more information about bodies to take better control of health and wellness and to take care of both mental health and wellbeing.

In May 2020, Philips has launched next-generation wearable biosensor for the detection of patient deterioration to enhance the portfolio of devices and services for identifying patients and to help in improving patient safety and also preserve valuable personal equipment.

In January 2019, Omron Healthcare has launched its first wearable blood pressure monitor to advance its mission of going for zero heart strokes with new heart health technology offerings and to offer a greater range of products to keep a closer watch on heart health.

[shwetammr1]

North America Wearable Medical Devices Market In-Depth Analysis of Key Players

The North America Wearable Medical Devices Market size is projected to reach US$ 6.8 Bn. at the end of the forecast period at a CAGR of 20.42%.

[researchreport11]

https://www.maximizemarketresearch.com/market-report/north-america-wearable-medical-devices-market/1410/

North America Wearable Medical Devices Market: Industry Analysis and Forecast (2020-2026) – By Device Type, Product, Application, Distribution Channel, Grade Type and Region.

The North America Wearable Medical Devices Market size is projected to reach US$ 6.8 Bn. at the end of the forecast period at a CAGR of 20.42%.

[market-insider]

COVID-19 Pandemic Somehow Has Positively Impacted Wearable Medical Devices Market

The global wearable medical device market size is expected to reach USD 196.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 28.1% from 2022 to 2030. Rising demand for hi-tech products and continuous health monitoring is fueling the market growth.

The increasing prevalence of obesity coupled with rising awareness about physical fitness is encouraging people to exercise and adopt other fitness-related activities. Wearable devices such as smart bands and smartwatches help in monitoring fitness parameters consisting of calories burned, footstep count, heart rate, and distance covered. The wearable devices companies offer guidance from experts who are certified dieticians or nutritionists, and hence, this business model is also generating hefty demand for these ancillary products and services.

Gain deeper insights on the market and receive your free copy with TOC now @: Wearable Medical Device Market Report

Companies such as Google, Fitbit, Apple, and Nike are working toward the launch of new innovative products, thus portraying a high growth rate in the market. Smartwatches and wristbands are the current focal point of product development and innovation, leading to abundant availability of such instruments. For instance, HealthPatch, a product of Vital Connect, was launched in March 2014. The product is an adhesive patch that can be placed anywhere on the chest and is used to regulate biometrics such as heart rate, skin temperature, body posture, and activities like steps walked.

The COVID-19 pandemic somehow has positively impacted the market owing to the increasing demand for telemedicine. The WHO guidelines of social distancing and avoiding public gatherings increased the adoption of telemedicine among physicians for treating patients from a distance. The growth of telemedicine and expansion of applications to integrate Artificial Intelligence (AI) has led to market growth.

[clinfinite]

Clinical Development Solutions

In the rapidly evolving field of healthcare, clinical development plays a crucial role in bringing novel treatments and therapies to patients worldwide. Clinical Development Solutions (CDS) is at the forefront of this exciting journey, pioneering innovative approaches to accelerate the development and approval of life-saving drugs and medical devices. With a dedicated team of experts and cutting-edge technologies, CDS is committed to transforming the landscape of clinical research and improving patient outcomes.

At CDS, we understand the challenges and complexities of clinical development. Our comprehensive suite of solutions is designed to address these challenges head-on, providing tailored strategies and support throughout the entire drug development lifecycle. From early-phase clinical trials to post-marketing studies, we offer a wide range of services that enable pharmaceutical and biotech companies to navigate the regulatory landscape efficiently and effectively.

One of the key strengths of CDS lies in our expertise in clinical trial design and optimization. We work closely with our clients to design robust and scientifically rigorous trials that generate high-quality data while minimizing risks. By leveraging our extensive knowledge and experience, we can identify the most appropriate patient populations, endpoints, and study designs to maximize the chances of success. Our statistical and data management teams ensure that the collected data is accurate, reliable, and compliant with regulatory requirements.

In addition to trial design, CDS also excels in patient recruitment and retention strategies. We understand the importance of enrolling a diverse and representative patient population to ensure the generalizability of study results. Through our innovative patient-centric approaches, such as digital recruitment platforms and targeted engagement campaigns, we connect with potential study participants and enhance their overall trial experience. By fostering strong relationships with patients and investigators, we improve retention rates and reduce dropout rates, ultimately leading to faster and more reliable study results.

CDS is at the forefront of adopting emerging technologies to drive efficiency and innovation in clinical development. We harness the power of big data analytics, artificial intelligence, and machine learning to uncover valuable insights from complex datasets. These advanced analytics enable us to identify trends, predict outcomes, and optimize trial protocols, thus accelerating the development timeline and reducing costs. Our investment in digital health technologies and wearable devices further enhances data collection and remote monitoring capabilities, enabling more flexible and patient-friendly trial designs.

In the realm of regulatory affairs, CDS provides comprehensive support to ensure compliance with global regulations and standards. Our regulatory experts have in-depth knowledge of regional requirements, including those of the FDA, EMA, and other regulatory authorities worldwide. From preparing regulatory submissions to managing post-marketing safety surveillance, we guide our clients through every step of the regulatory process, ensuring timely approvals and post-approval compliance.

CDS is also committed to fostering collaboration and knowledge sharing within the clinical research community. We organize scientific symposia, webinars, and training programs to facilitate the exchange of ideas and best practices. By promoting interdisciplinary collaboration and staying up to date with the latest industry advancements, we continuously enhance our capabilities and stay at the forefront of clinical development.

In conclusion, Clinical Development Solutions is a leading provider of innovative solutions in clinical development. Through our expertise, technology-driven approaches, and commitment to patient-centricity, we strive to transform the drug development landscape and improve patient outcomes. By partnering with CDS, pharmaceutical and biotech companies can navigate the complexities of clinical research with confidence, bringing new therapies to patients faster and more efficiently. Together, let us shape the future of healthcare through innovation and collaboration.

[strangemusictriumph]

Smart Glove Market - Forecast (2021 - 2026)

The Smart Glove Market size is analyzed to grow at a CAGR of 9.6% during the forecast 2021-2026 to reach $4.67 billion by 2026. Smart Glove is considered as a wide range of Sensor technology gloves for advanced and customized solutions, such as hand protection, high-tech rehab device and other assistive device services. The Smart Gloves are designed electronic devices with microcontrollers to offer avant-garde opportunities for various kinds of application suitable to the business requirements, including industrial grade gloves and medical grade gloves, and thus, contribute to the Smart Glove market growth. The rapid prominence of the Internet of Things (IoT), artificial intelligence and connected devices, along with the increasing innovations in wearable health devices, smart personal protective equipment, integrated with GPS, wireless communication features and in-built voice assistance have supported the Smart Glove Industry development successfully. In fact, the growth of the market is also observed due to the growing advancement of the Bluetooth chip, flex sensors, microcontroller, and accelerometer. Furthermore, the progression of microencapsulation and nanotechnology pave the way for sensor technology which offers lucrative growth possibilities. The influx of brands like Samsung, Apple, and Fossil are broadening the functionalities, which further promotes Smart Glove Market. 

Smart Glove Market Report Coverage

The report: “Smart Glove Industry Outlook – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Smart Glove Industry.

By Offerings: Software and Service By Application: Fitness & Wellness, Specific Health Monitor, Infotainment, Ergonomic wearable and others By Industry Verticals: Pharmaceuticals & Healthcare, Food & Beverages, Enterprise and Industrial, Consumer Electronics and others By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan, India, South Korea, Australia and Others), South America(Brazil, Argentina and others)and RoW (Middle east and Africa). 

Request Sample

Key Takeaways

The growing demand of wearable medical devices owing to the increasing awareness on fitness and a healthy lifestyle along with prominence of connected devices in Healthcare, contribute to the growth.

Asia Pacific is estimated to hold the highest share of 40% in 2020, followed by North America, owing to the significant adoption of IoT, large scale implementation of a wide range of ubiquitous systems, such as wearable computing and sensor technology across the several business verticals.

The advancements in consumer electronics with a wide range of technical advantages, including touch sensitive features and miniature designs, resulted into the market growth.

Smart Glove Market Segment Analysis – By Industry Verticals

By Industry Verticals, the Smart Glove Market is segmented into Pharmaceuticals & Healthcare, Food & Beverages, Enterprise and Industrial, Consumer Electronics and others. The Enterprise and Industrial segment held the major share of 37% in 2020, owing to the propensity for cutting-edge products and significant investment to pursue radical evolutions in commercial applications. In order to address the growing requirement of several end users across automotive, oil & gas, manufacturing and logistics, customizable smart gloves with built-in scanners are introduced for more effective operations. In April 2019, the manufacturer of a smart, wearable technology, ProGlove, unveiled its MARK 2 to a U.S. audience ProMat in Chicago. The new MARK 2 enables the user to scan up to 5 feet away from a device and can connect to a corporate network via Bluetooth Low Energy (BLE), with up to 15-hour charge battery. ProGlove provides hands-free scanning solutions across a number of industries, and thus, in September 2020, Panasonic announced a partnership with ProGlove, to combine the mobile computing solutions of the two companies in order to offer rugged, innovative and user-friendly wireless barcode scanners. The strategic collaboration is also formulated to deliver seamless as-a-stand-alone scanning solution with an embedded Panasonic’s voice picking solutions for the warehouse operations, supply chain, and inventory checking. Therefore, the growing demand of integrated gesture sensor solutions for dynamic workstations, and a more efficient working environment accelerated the demand of Smart Glove Market. 

Inquiry Before Buying

Smart Glove Market Segment Analysis – By Geography

Asia Pacific is estimated to hold the highest share of 40% in 2020, followed by North America in Smart Glove Market. The early adoption of IoT, large scale implementation of a wide range of ubiquitous systems, such as wearable computing and sensor technology across the several business verticals, along with the growing interest of consumers towards ‘sensorized’ fitness wearable devices are estimated to drive the market in these regions. Furthermore, numerous research investments propel the innovations of soft and stretchable electronics design that propel a competitive edge to smart wearable solutions. In January 2021, HaptX Inc. announced the release of HaptX Gloves DK2. The HaptX Gloves DK2 is an upgraded design and the world's most advanced haptic feedback gloves, which deliver unprecedented realism, with more than 130 points of tactile feedback per hand. These gloves have astoundingly real-life superpowers with VR, XR, and robotics technologies to meet the demand of various enterprises for quality requirements. Hence, the promising demand of industrial wearable and other smart personal protective equipment in these regions are estimated to drive the Smart Glove Market. 

Smart Glove Market Drivers

Growing prominence of healthcare wearable

The growing demand of wearable medical devices owing to the increasing awareness on fitness and a healthy lifestyle along with prominence of connected devices in Healthcare, contribute to the growth of Smart Glove Market. Moreover, the rise of high-tech devices to usher clinical-grade wearable with 3G and 4G connection led to various viable solutions. In July 2020, UCLA bioengineers designed a glove-like device that can translate American Sign Language (ASL) into English speech in real time through a smartphone app. The entire system is integrated upon a pair of gloves with thin, stretchable sensors to translate hand gestures into spoken words. Hence, the sizable demand of personalized care, specific health issue monitoring devices and user-friendly, compact medical wearable propelled the growth of the Smart Glove Market. 

Schedule a Call

Advancements in consumer electronics

The advancements in consumer electronics with a wide range of technical advantages, including touch sensitive features and miniature designs, resulted into the growth of Smart Glove Market. The advent of digitalization and latest development in sensor technology to enhance user performances is further driving the market. In April 2019, British music tech company Mi.Mu, founded by Grammy award-winning artist Imogen Heap announced the release of newly designed Mi.Mu gloves, allowing artists to map hand gestures to music software. The new gloves of Mi.Mu are durable with a removable battery system that offers artists complete control over their musical performances. Moreover, the breakthrough innovation in microfibre sensor technology offers strain sensing capabilities that provides gesture-based control. In August 2020, A team of researchers from the National University of Singapore (NUS), led by Professor Lim Chwee Teck, developed a smart glove, known as 'InfinityGloveTM', which enables users to mimic numerable in-game controls using simple hand gestures. Therefore, the launch of sophisticated wearable electronics products, extensive glove's capabilities and rising usage of convenient-to-use devices are some of the factors that are estimated to drive the Smart Glove Market. 

Smart Glove Market Challenge

High price of Smart Glove solution

The market of Smart Glove is expanding due to the significant technologies development, using the amalgamation of sensing and feedback operation to denote smarter systems. Thus, the commercially available devices, pertaining to smart glove features are prominently expensive, which is a major constraint that demotivated the rapid adoption. Thus, factors such as less sensible investment and unobtainability of some of the latest smart gloves technology around some regions  due to high cost are likely to restrict the Smart Glove Market. 

Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Smart Glove Market. The Smart Glove Market top 10 companies include Apple Inc, Flint Rehab, Haptx, Lab Brother Llc, Maze Exclusive, Neofect, Samsung Electronics Co Ltd, Seekas Technology Co., Ltd, Vandrico Solution Inc, ProGlove, Workaround Gmbh and among others 

Buy Now

Acquisitions/Technology Launches/Partnerships

In December 2019, HaptX, the leading provider of realistic haptic technology announced the partnership with Advanced Input Systems along with a Series A financing round of $12 million. This acquisition provides a great opportunity for HaptX as they can finance the production of the next generation of HaptX Gloves, which represents the world’s most realistic gloves for virtual reality and robotics, coupled with product development, manufacturing, and go-to-market collaboration.

In November 2019, Ansell Limited, a leading provider of safety solutions, announced a partnership with ProGlove, a renowned industrial wearable manufacturer.  The acquisition is formed to deliver advanced hand protection solutions to ensure the personal protective equipment (PPE) compliance in the workplace.

For more Electronics Market reports, please click here

[colinwilson11]

The Global Ophthalmoplegia Market Will Gain Traction Owing To Increasing Diagnosis Rate

The global ophthalmoplegia market comprises medicines and equipment used for treatment and diagnosis of eye muscle paralysis or limited eye movement, known as ophthalmoplegia. Some key products include diagnostic equipment such as funduscopy, echography and electroretinography machinery used for retina examination. Treatment includes drug therapies such as acetylcholinesterase inhibitors, prostaglandin analogues and alpha agonists. Ophthalmoplegia negatively impacts vision by restricting eye movement and convergence of eyes. It arises due to neuropathies or neuromuscular junction disorders. With growing geriatric population more prone to neurodegenerative diseases and rising healthcare expenditures, diagnosis and treatment seeking rate for ophthalmoplegia is increasing.

The Global Ophthalmoplegia Market is estimated to be valued at US$ 510 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the global ophthalmoplegia market are Novartis AG, Sanofi, F. Hoffmann-La Roche Ltd., Pfizer Inc., Bayer AG. These players are engage in new product launches and geographic expansion to gain market share. For instance, in 2023 Novartis launched Rixadyl, a treatment for myasthenia gravis which can potentially treat ophthalmoplegia arising from the condition.

The increasing prevalence of neurological disorders is a major factor driving the demand for ophthalmoplegia treatment. Neuropathies related to diabetes and neurodegenerative diseases like myasthenia gravis and Graves' disease are key causative factors. According to WHO, over 422 million people worldwide have diabetes in 2014, anticipated to rise to over 592 million by 2035. This rises risk of diabetic neuropathies and associated ophthalmoplegia.

Technological advancements are helping improve disease diagnosis. Optical coherence tomography enables high resolution retina imaging without contact. Advances in electrodiagnostic testing aid in accurate neuromuscular junction and neuropathy assessment. Wearable eye trackers also aid in home based monitoring of ophthalmic symptoms, facilitate remote diagnosis.

Market Trends

Increased drug pipeline for orphan ophthalmoplegia indications - Several pharmaceutical companies are developing therapies for rare causes of ophthalmoplegia like Miller Fisher Syndrome. For instance, Alexion Pharma is developing a C5 complement inhibitor ALXN1720 for this syndrome.

Growing diagnostic device industry - Major players are launching portable and affordable devices using technologies like optical coherence tomography, electroretinography for remote patient monitoring and decentralized healthcare access.

Market Opportunities

Emerging markets in Asia Pacific and Latin America present high growth potential for ophthalmoplegia drug makers and device companies. Growing medical tourism and healthcare infrastructure development in these regions can be leveraged.

Shift towards home-based remote care models post Covid - Telehealth platforms enabling virtual consultations and remote monitoring present an opportunity for players to deliver decentralized care using diagnostic devices, virtual training programs for patients.

Impact Of COVID-19 On Global Ophthalmoplegia Market Growth:

The COVID-19 pandemic has significantly impacted the growth of the global ophthalmoplegia market. During the initial phase of the pandemic, lockdowns and social distancing measures implemented worldwide disrupted the supply chains and stalled production activities. This adversely affected the market's growth in the short term. With reduced access to healthcare facilities, diagnosis and treatment of ophthalmoplegia also witnessed delays.

However, with increasing availability of teleconsultation and telemedicine options post lockdowns, the ability to diagnose and manage cases remotely helped the market regain traction. Additionally, rising awareness about the risk of viral infections aggravated by ophthalmoplegia motivated people to seek timely medical care. Government efforts to prioritize availability of essential drugs and treatments for chronic conditions also supported market recovery.

While short-term prospects were impacted, the long-term outlook for the market remains positive. The pandemic highlighted the importance of eye care and ophthalmoplegia management. It is expected that higher focus on preventive healthcare would drive increased adoption of diagnostic tests and treatment regimens. Drug makers are also exploring development of more effective and affordable treatment options to cater to the growing needs of such patients. Overall, with resumption of normal activities and continued medical advancements, the market is projected to regain growth momentum in the coming years.

Geographical Regions With Highest Value Concentration In Global Ophthalmoplegia Market:

North America represents the largest regional market for ophthalmoplegia, in terms of value. Advanced healthcare infrastructure and widespread medical insurance have enabled high adoption of diagnostic procedures and specialty drug therapies in the region. With presence of prominent market players and continuous investments in R&D, the US market within North America dominates global sales. In Europe, government-funded healthcare systems ensure accessibility of treatment options. Germany, France and the UK contribute major shares to the European market. Rising incomes and growing medical tourism are factors fueling the Asia Pacific market growth. China and India have emerged as high potential markets based on their large patient pools. Other regions including Latin America and Middle East & Africa are also witnessing steady expansion of the ophthalmoplegia market.

Fastest Growing Regional Market For Global Ophthalmoplegia:

The Asia Pacific region is poised to register the fastest market growth during the forecast period. This can be attributed to rising incidences of myasthenia gravis and Graves' disease, both of which increase risks of ophthalmoplegia. Improving healthcare infrastructure and expanding insurance coverage have enhanced diagnosis rates across major Asian countries. Additionally, increasing collaboration between international and local pharma companies is facilitating technology transfer and availability of novel drug formulations. Governments are also implementing various initiatives to spread awareness about neurological and ophthalmic conditions. These favorable market determinants are supporting strong sales growth prospects for ophthalmoplegia treatment in Asia Pacific. Other emerging regions including Latin America and Middle East Africa are also projected to provide lucrative opportunities for market expansion in the long run.

Get more insights on this topic: https://www.trendingwebwire.com/global-ophthalmoplegia-market-to-grow-due-to-advancements-in-neurological-disorder-treatments/

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

What Are The Key Data Covered In This Global Ophthalmoplegia Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Ophthalmoplegia Market's growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Ophthalmoplegia Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Global Ophthalmoplegia Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Ophthalmoplegia Market vendors

FAQ’s

Q.1 What are the main factors influencing the Global Ophthalmoplegia Market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Global Ophthalmoplegia Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Global Ophthalmoplegia Market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note: 1. Source: Coherent Market Insights, Public sources, Desk research 2. We have leveraged AI tools to mine information and compile it

[market-spy]

Patient Engagement Solutions Market Forecast to Grow at 17.54%  CAGR from 2024 to 2031 | SkyQuest Technology

The Global Patient Engagement Solutions Market was valued at USD 16.58 billion in 2022 and is projected to grow to USD 70 billion by 2031, with a compound annual growth rate (CAGR) of 17.54% during the forecast period (2024-2031).

Market Overview

Patient engagement solutions refer to tools like online patient portals that enable medical organizations to interact effectively with their patients. The growing awareness of mobile health technologies, an aging population, and government incentives are driving demand for these solutions. Patients increasingly use technology to monitor and manage their health, particularly in cases of chronic illnesses. Innovations in health tracking, wearable devices, and remote monitoring are further boosting this market.

Get your free sample: https://www.skyquestt.com/sample-request/patient-engagement-solutions-market

Key Market Dynamics

Drivers: The advancement of mobile apps and wearables, increased awareness of chronic disease management, and government initiatives such as the Meaningful Use Act are propelling market growth.

Restraints: Strict regulatory frameworks like HIPAA and concerns over the protection of patient data are hindering wider adoption of patient engagement solutions.

Segmental Analysis Segmental Analysis

Component

Software (Standalone Software, and Services

Therapeutic Area

Chronic Diseases, Fitness, and Others

Functionality

Telehealth, E-Prescribing, and Billing & Payments

End Users

Providers and Payers Regional Insights

North America leads the market, driven by the widespread adoption of mobile health (mHealth) and electronic health records (EHRs). Government support and significant investments also contribute to regional dominance.

Asia Pacific is the fastest-growing region, with rising demand for modern healthcare systems, an increase in smartphone users, and government initiatives supporting patient engagement solutions.

Ask for customization: https://www.skyquestt.com/speak-with-analyst/patient-engagement-solutions-market

Competitive Landscape

IBM (US) 

McKesson Corporation (US) 

Allscripts (US) 

ResMed (US) 

Epic Systems Corporation (US) 

Orion Health (New Zealand) 

GetWellNetwork (US) 

Athenahealth (US) 

Oneview Healthcare (Ireland) 

MEDITECH (US) 

Cognizant (US) 

Symphony Care (US) 

Harris Healthcare (US) 

Recent Developments

Engage Technologies Group Inc. partnered with APX Platform in April 2023 to create an industry-disrupting Practice Performance System aimed at improving patient engagement.

Athenahealth Inc. implemented its cloud-based EHR and patient engagement solution with LCH Health and Community Services in May 2023.

Go through the detailed TOC of the report: https://www.skyquestt.com/report/patient-engagement-solutions-market

Market Trends

The rise in personalized care and the adoption of mobile technology are major trends shaping the patient engagement solutions market. Mobile health apps and wearables are enabling patients to monitor and manage their health on their own, fostering higher patient engagement.

Conclusion

The patient engagement solutions market is experiencing significant growth driven by technological advancements and increasing patient awareness. Major players are competing in a rapidly evolving field, introducing innovative solutions and forming strategic partnerships to capture market share. The market is expected to expand substantially through 2031, with increasing demand for personalized healthcare solutions and remote monitoring technologies.

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:

Mr. Jagraj Singh

Skyquest Technology

1 Apache Way,

Westford,

Massachusetts 01886

USA (+1) 351-333-4748

Email: sales@skyquestt.com

Visit Our Website: https://www.skyquestt.com/

[chemicalresearchnews]

Specialty Chemicals Market is Estimated to Hit $364.8 billion by 2028

The report "Specialty Chemicals Market by Type (Plasticizers, Water-Based, Coagulants and Flocculants, Scale Inhibitors), Application (Paper and Packaging, Automotive, Consumer Goods, Construction), and Region– Global Forecast to 2028", size was USD 272.6 billion in 2022 and is projected to reach USD 364.8 billion by 2028, at a CAGR of 5.0%, between 2023 and 2028.

Specialty chemicals are used in various industries including construction, packaging, consumer goods, automotive, industrial, medical and others. One of the biggest consumers of specialty chemicals is the automotive sector. These chemicals are employed in the manufacture of a few automobile parts, including tires, coatings, and adhesives. New specialty chemicals that can enhance the performance of these components have been developed in response to the rising need for lightweight and fuel-efficient automobiles. To make automobiles lighter and more fuel-efficient, for instance, specialty chemicals like high-performance polymers and composites are used.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=165

Water-based adhesive technology accounted for the largest market share, in terms of volume, in 2022.

Water-based technology is expected to dominate the adhesives type of specialty chemicals, in terms of volume, during the forecast period. Factors such as environmental regulations, health and safety considerations, performance and versatility, and industrial requirements and preferences drive the demand for water-based adhesive technology across the globe. Stringent environmental regulations and increasing consumer awareness have prompted the industry to adopt more environmentally friendly adhesive technologies, such as water-based adhesives.

Medical is estimated to be the fastest-growing application of adhesives, in terms of value, during the forecast period.

With improvements in surgical methods, medical equipment, and wearable technologies, the medical sector is always developing. To ensure appropriate assembly, bonding, and performance, many of these advancements need trustworthy adhesives. For example, in minimally invasive surgeries, adhesives are used to secure medical devices and seal incisions. The development in medical sector is expected to drive the market for adhesives globally.

Asia Pacific is estimated to be the largest market for adhesives, in terms of value, during the forecast period.

Asia Pacific is the largest and fastest-growing adhesives market. Asia uses plastic packaging extensively, with nations like China and India making significant contributions through their food and beverage industries. The use of adhesives in green building initiatives is becoming more and more popular due to increasing focus on sustainability and energy efficiency. Insulation materials, building exterior systems, and energy-efficient windows are all installed using adhesives. The promotion of eco-friendly and energy-saving practices by governments and organizations in Asia Pacific drives the demand for such adhesive solutions.

Note: For illustration, fastest-growing application, largest type, region is provided for adhesives market similar information is provided for all the ten chemicals in the report.

Key Players:

The key players profiled in the report include BASF SE (Germany), DOW Inc. (US), Nouryon (The Netherlands), LANXESS AG (Germany), Evonik Industries AG (Germany), Huntsman Corporation (US), Covestro AG (Germany), Clariant AG (Switzerland), Solvay S.A. (Belgium), and Arkema (France).

Content Source: https://www.marketsandmarkets.com/PressReleases/specialty-chemicals-market.asp

[industrynewsupdates]

Clinical Trials Procurement Intelligence 2024-2030: What You Need to Know

This clinical trials market is anticipated to grow at a CAGR of 6.49% from 2024 to 2030. North America is the leading region in this category, accounting for over 50.3% of the market share in 2023. This is expected to continue in the forecast period as well, due to several factors, including increased R&D investments and the adoption of new technologies. For example, the use of virtual services in clinical trials is becoming increasingly popular, and this is expected to drive growth in the North American market.

This category is driven by many key factors, including the surge in demand for outsourcing clinical trials, the increasing prevalence of chronic diseases, and the increased investments in R&D by pharmaceutical and biotechnological companies. The outsourcing of this category is becoming increasingly popular, as it allows pharmaceutical companies to focus on their core competencies and to save time and money. The increasing prevalence of chronic diseases is also driving the demand for clinical trials, as there is a need for the development of new and efficient therapeutics to treat these diseases. Also, the increased investments in R&D by pharmaceutical and biotechnological companies are driving the growth of the market, as these companies are constantly developing new drugs and therapies that need to be tested in clinical trials.

This category is a moderately fragmented market due to the presence of numerous players. Strategic alliances between pharmaceutical firms and CROs are anticipated to have a substantial impact on the category’s expansion. Additionally, the swift uptake of new technology for better healthcare contributes to the market's expansion. For instance,

• In November 2022, Calit Health Services (Israel) and IQVIA (US) announced a collaboration to work on clinical trial delivery. The collaboration will combine Calit's extensive clinical trial experience and IQVIA's global reach and expertise in data analytics.

• In April 2022, Charles River Laboratories, a pharmaceutical company that provides preclinical and clinical laboratory services, acquired Explora BioLabs, a provider of contract vivarium research services. This acquisition will allow Charles River to expand its offerings in the cell and gene therapy space.

• In February 2022, Citeline and Norstella merged to form a new company worth $5 billion. Citeline provides clinical trial management software, while Norstella provides clinical trial supplies and services. The merger of these two companies will allow them to offer a more comprehensive suite of services to pharmaceutical companies, which could help speed up the drug development process and improve patient access to new therapies.

Order your copy of the Clinical Trials Procurement Intelligence Report, 2024 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Technological advancements in this category have revolutionized the drug development process by reducing costs and increasing efficiency. With rising trial expenses, failure rates, and a focus on patient-centric trials, the demand for the technology in clinical trials has surged. The landscape of clinical trials is evolving towards decentralization with the utilization of wearables, mHealth, and real-world evidence (RWE). These disruptive technologies enable small, controlled trials and streamline processes from patient enrollment to medication administration and follow-ups through mobile devices. Pharmaceutical companies are investing heavily in AI and big data analytics to leverage their transformative impact on the R&D process, enhance competitiveness, and facilitate company transformation and agility. Additionally, the integration of wearable devices and remote sample collection offers a safer and more convenient experience for participants, potentially increasing patient enrollment and engagement in future studies.

Defining the price and cost of this category is complex as it is dependent on various factors like phase, drug type, and location. Costs range from millions to billions, divided into patient care and research costs. Patient care costs include recruitment, enrollment, medication, safety monitoring, while research costs cover design, implementation, data analysis, and results publication. When budgeting for a clinical trial, consider various cost segments like regulatory, safety, data, quality management, overhead, and site costs. The price of this category is determined by the trial sponsor, typically a pharmaceutical company. Various factors can influence the trial's price, including its scale, complexity, and associated risks. Sponsors take these factors into account when setting the price, as they impact the resources required to conduct a successful trial.

When it comes to sourcing of this category, it is crucial to follow the best practices to ensure the high quality and integrity of the study. These practices include identifying reputable trial sites, evaluating investigator qualifications, prioritizing patient safety, assessing site capabilities, reviewing ethical considerations, evaluating data management systems, monitoring compliance with regulations, conducting site visits and audits. Additionally, it is essential to prioritize suppliers who offer comprehensive documentation, including certificates of analysis and trials conducted. By following these best practices, sponsors can enhance the quality, reliability, and ethical standards of their clinical trials. Finally, considering suppliers who engage in continuous research and development efforts can be beneficial for this category.

Clinical Trials Procurement Intelligence Report scope

• Clinical Trials Category Growth Rate: CAGR of 6.49% from 2024 to 2030

• Pricing Growth Outlook: 2% - 3% (Annually)

• Pricing Models: Unit-based pricing

• Supplier Selection Scope: Cost and pricing, Past engagements, Productivity, Geographical presence

• Supplier selection criteria: Reviewing ethical considerations, prioritizing patient safety, regulatory standards and mandates, category innovations, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Browse through Grand View Research’s collection of procurement intelligence studies:

• Clinical IT Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Clinical Staffing Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Key companies profiled

• IQVIA

• PAREXEL International Corporation

• Pharmaceutical Product Development

• Charles River Laboratory

• ICON Plc

• Syneos Health

• Chiltern International Ltd

• Eli Lilly and Company

• Pfizer

• Caidya

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

[health-views-updates]

2024 Outlook for the Healthcare Market: Trends and Insights

The global healthcare market is projected to experience significant growth over the coming years, with market size estimated to expand from USD 21,222.5 billion in 2023 to an impressive USD 44,760.73 billion by 2032. This growth, driven by a compound annual growth rate (CAGR) of 9.07% from 2024 to 2032, reflects the increasing demand for healthcare services, innovations in medical technology, and the rising global healthcare expenditure.

The healthcare market encompasses a wide range of services, products, and technologies aimed at promoting health, managing diseases, and improving the quality of life. It includes segments such as pharmaceuticals, medical devices, healthcare IT, hospitals, and health insurance, all of which are vital for addressing global health challenges and ensuring the well-being of populations.

Key Growth Drivers

Aging Population and Chronic Disease Prevalence: One of the primary drivers of the healthcare market's growth is the increasing global population, particularly the aging demographic. The elderly population requires more frequent and advanced medical care due to the prevalence of chronic conditions such as cardiovascular diseases, diabetes, and cancer. This rise in healthcare needs is pushing governments and healthcare providers to expand their services, invest in new technologies, and focus on preventive care, fueling market expansion.

Technological Advancements in Healthcare: The healthcare industry is undergoing a digital transformation, with emerging technologies such as artificial intelligence (AI), machine learning, telemedicine, wearable devices, and big data analytics reshaping healthcare delivery. These innovations are enhancing diagnostic accuracy, improving patient outcomes, and streamlining healthcare operations. The adoption of digital health technologies is expected to accelerate during the forecast period, contributing to the overall growth of the market.Telemedicine, in particular, gained significant traction during the COVID-19 pandemic, providing a convenient and efficient solution for remote patient care. This trend is expected to continue as telehealth services offer access to medical care in underserved areas, reduce costs, and improve patient engagement.

Rising Healthcare Expenditure and Government Initiatives: Governments and private organizations are increasing their healthcare spending to improve infrastructure, research, and patient care services. In developed countries, healthcare expenditure accounts for a large share of GDP, while developing countries are also boosting investment in healthcare systems to meet the growing demand for quality care. Additionally, government initiatives aimed at providing universal healthcare coverage, particularly in regions such as Asia-Pacific and Latin America, are expected to contribute to market growth.

Pharmaceutical and Biotechnology Innovation: The pharmaceutical and biotechnology sectors play a crucial role in driving the healthcare market, particularly with the development of novel therapies, vaccines, and treatments. The rise of personalized medicine and gene-based therapies is offering new avenues for treating diseases with greater precision and efficacy. Furthermore, the ongoing efforts in drug discovery and the introduction of innovative biologics and biosimilars are expected to boost the market.

Get a Free Sample Report : https://www.snsinsider.com/sample-request/4062 

Challenges Facing the Market

While the global healthcare market is poised for strong growth, it faces several challenges. High healthcare costs, particularly in developed countries, pose affordability issues for patients and healthcare systems alike. In addition, disparities in access to healthcare services in low-income and rural regions continue to limit the overall reach of healthcare advancements. Additionally, managing the growing volume of healthcare data while ensuring patient privacy and regulatory compliance remains a complex task for healthcare providers.

Regional Insights

The healthcare market is expected to witness significant growth across all major regions, with North America currently holding the largest market share. The region's robust healthcare infrastructure, high levels of healthcare spending, and early adoption of advanced medical technologies position it as a key player in the market.

However, the Asia-Pacific region is anticipated to experience the highest growth rate over the forecast period, driven by increasing population, rising healthcare investments, and government initiatives to expand healthcare access. Countries such as China and India are leading the charge in healthcare innovation and infrastructure development, creating a lucrative market for healthcare products and services.

Future Outlook

The future of the global healthcare market is bright, with strong growth prospects driven by rising healthcare needs, technological advancements, and government policies aimed at improving healthcare access and quality. The market's projected growth at a CAGR of 9.07% from 2024 to 2032 highlights the increasing demand for healthcare solutions that are accessible, efficient, and technologically advanced.

In conclusion, the healthcare market is expected to witness robust expansion over the next decade, with market size increasing from USD 21,222.5 billion in 2023 to an anticipated USD 44,760.73 billion by 2032. This growth reflects the evolving nature of healthcare services, the integration of cutting-edge technologies, and the ongoing efforts to meet the healthcare needs of a rapidly growing global population