The global electrophysiology devices market accounted for a value of US$ 8,643.1 Mn in 2020 and expected to attain US$ 16,730.2 Mn by 2029. Variables of the market are globally growing older population base coupled with rising prevalence of atrial fibrillation (AF) & cardiovascular diseases (CVDs), technological advancements in electrophysiology devices, and the presence of favorable government initiatives.
Major companies engaged in healthcare market have understood a new paradigm to be in healthcare for women. Healthcare for women in itself presents a separate market with different needs, attitudes and preferences as against healthcare for men. Healthcare marketers understand that women are indispensable customers in the healthcare industry for reasons such as that they account for over 50% of all physician visits, and they are the primary decision makers in healthcare.
The global hemostasis/coagulation market is expected to grow at a CAGR of 8.5% during the forecast period of 2025 to 2033. A coagulation analyzer, also known as a micro-coagulation system, is a piece of equipment that can monitor and assess the rate at which a clot is forming or coagulating. By identifying the presence of blood clots in the blood arteries, this test makes it possible to reduce the risk of having a heart attack, an embolism, or thrombosis. The growth of this market is primarily attributable to an increase in coagulation diagnosis coupled with point-of-care diagnostics as well as an increase in industrial medical device manufacturing capacity.
The global blood typing, grouping and infectious disease screening market will reach US$ 7,078.3 Mn by 2026 from US$ 3,079.8 Mn in 2017, growing at a CAGR of 9.7% during the forecast period from 2018 to 2026. Blood grouping comprises ABO grouping and Rh tests, whereas nucleic acid testing (NAT) and immunoassays are preferred for blood screening to identify the presence of infectious agents.
Oxidative stress is a result of an imbalance between reactive oxygen species and body’s ability to detoxify it. Such discrepancies in the redox state of the cell lead to the generation of peroxides and free radicals that may damage the cell components including lipids, proteins, and DNA. Oxidative stress assay is a method to evaluate the oxidative stress level of cells as sustained oxidative stress can lead to cancer, Parkinson's & Alzheimer’s disease, atherosclerosis and inflammatory diseases among others.
The amniocentesis needles market is set to reach from US$ 166.0 Mn in 2020 to US$ 218.5 Mn by 2029 at a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2021 to 2029. Amniocentesis is frequently performed in prenatal diagnosis to identify any chromosomal abnormalities, neural tube defect and fetal infections during pregnancy. Rising public health awareness and implementation of effective health guidelines pertaining to obstetrics and gynecology drive the amniocentesis needles market growth.
Respiratory Syncytial Virus (RSV) is a single-stranded RNA virus that causes respiratory infections such as pneumonia, bronchiolitis and among others. In tropical climates, RSV infection is more prominent during the rainy season.
The Cystoscope market is expected to grow at a CAGR of 6.1 % during the forecast period of 2021 to 2029. A cystoscope is a thin tube with a camera and light on the end. During a cystoscopy, the tube is inserted through the urethra to be able to image for diagnostic purpose.
The global atrial fibrillation devices market accounted for market value of US$ 4,884.9 Mn in 2017 and expected to attain US$ 17,867.3 Mn by 2026. Worldwide growing geriatric population coupled with rising prevalence of obesity and hypertension are anticipated to nurture the market growth over the forecast period.
Wrist-worn pulse oximetry is a user-friendly non-invasive medical device used to deliver highly accurate reading associated with the studies such as oxygen saturation level, pulse rate, and heart rate. Conditions such as respiratory diseases, sleep problems, and cardiac diseases can be detected early with the help of this device. Due to the growing prevalence of chronic obstructive pulmonary disease (COPD), there is a surge in the utilization of wrist-worn pulse oximetry devices, according to the World Health Organization (WHO), around 3.17 million individual died of COPD in 2015.
The global market for diagnostic testing is expected to surpass US $350 billion by 2030, expanding at a CAGR of 9% from 2023 to 2030.
Diagnostic tests are medical examinations performed to aid in the recognition or diagnosis of any disease. These tests are crucial for the management, surveillance, and prevention of any disease. These tests increase patient care, customer security, and healthcare expenditures. According to the study Non-communicable Illnesses Important Statistics from the World Health Organization (WHO), chronic diseases will be responsible for approximately 41 million deaths annually by April 2021, or 71 percent of all deaths worldwide. Hence, diagnostic tests have proved beneficial in the prevention, identification, and diagnosis of disease, as well as in the management of chronic sickness situations. By detecting individual risk factors and early warning signs, clinical diagnostics create new opportunities for early prevention and intervention. Thus, it is projected that the industry as a whole would continue to expand as the prevalence of chronic diseases rises.
The industry is expected to be driven by the increasing popularity of decentralized healthcare systems. In addition, it is predicted that the market would expand during the forecast period as a result of leading market players' adoption of new innovations and technical advancements in the sector. As a result of these reasons, the market for point-of-care diagnostics is predicted to expand in the future years. The aging of the world's population increases the likelihood of contracting a variety of diseases, including diabetes, cancer, cardiovascular disease, obesity, and neurological disorders. The United Nations projects that by 2020, 727 million people worldwide would be 65 or older. In addition, it is estimated that by 2050, there will be more than 1.5 billion individuals aged 80 and older, which is twice as many as there are today. The predicted growth in the global elderly population during the forecast period is likely to have a substantial impact on the market.
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