The laboratory plasticware market is expected to grow at a CAGR of 4.8% during the forecast period of 2024 to 2032. Laboratory plasticware market encompasses a wide range of products designed for use in various laboratory environments, including academic, healthcare, pharmaceutical, and industrial research settings. Plasticware, due to its cost-effectiveness, durability, and flexibility, has become a critical component in laboratories for handling reagents, storing samples, culturing media, and conducting experiments.
The bovine artificial insemination market is expected to grow at a CAGRof 6.5% during the forecast period of 2024 to 2032, due to advancements in reproductive technologies, the increasing global demand for meat and dairy products, and the rising focus on genetic improvement in cattle. Artificial insemination (AI) has become a widely accepted reproductive technique in the bovine industry, providing several advantages such as improved herd genetics, better disease control, and increased efficiency in breeding programs.
Tuberculosis therapeutics market is expected to grow at a CAGR of 6.1% during the forecast period of 2024 to 2032, due to rising incidences of TB, increasing awareness about the disease, and advancements in treatment options. TB remains a major global health issue, with active TB being the more severe form requiring immediate treatment, while latent TB needs preventative care. In 2023, active TB treatments generated the highest revenue, attributed to the immediate need for therapeutic intervention.
The prostate cancer therapeutics market is expected to grow at a CAGR of 7.3% during the forecast period of 2024 to 2032, driven by an increasing incidence of prostate cancer, advancements in treatment options, and a growing understanding of the disease's biology. The market is expected to continue expanding, influenced by key drivers such as the rising prevalence of prostate cancer among the aging population, technological advancements in therapeutics, and the increasing availability of personalized medicine approaches.
The anal fistula treatment market is expected to grow at a CAGR of 4% during the forecast period of 2024 to 2032, driven by the growing adoption of non-surgical treatments, advancements in surgical techniques, and the increasing incidence rates of anal fistulas. Challenges in the market adoption of seton techniques present a notable restraint. The market's segmentation by treatment type, application, and end-user reveals distinct leaders in revenue and CAGR, reflecting the varied dynamics within the industry.
The veterinary renal disease market is expected to grow at a CAGR of 5.8% during the forecast period of 2024 to 2032, driven by advancements in diagnostic capabilities, increasing pet ownership and humanization, and the rising incidence of renal diseases in specific animal types. Challenges in the limited availability of effective treatment options present a notable restraint. The market's segmentation by type, animal type, route of administration, indication, and distribution channel reveals distinct leaders in revenue and CAGR, reflecting the varied dynamics within the industry.
The pediatric allergy treatment market is expected to grow at a CAGR of 7.5% during the forecast period of 2024 to 2032, driven by demographic considerations, allergen types, and evolving treatment modalities. The market's dynamism, however, is tempered by challenges related to cost and accessibility, necessitating a concerted effort to enhance healthcare equity. As the market progresses into the forecast period, a nuanced understanding of these drivers, restraints, and market dynamics will be imperative for stakeholders.
The animal drug compounding market is expected to grow at a CAGR of 8.5% during the forecast period of 2024 to 2032, fueled by innovative compounding practices, a focus on companion animal healthcare, and the rising prevalence of animal diseases. While regulatory challenges pose considerations, the market's segmentation reveals diverse trends, with certain segments like Anti-infectives, companion animal drugs, capsules, and oral administration leading in both revenue and CAGR.
The veterinary endotracheal tube market is characterized by competition among key players, such as Jorgensen Laboratories, B. Braun Vet Care, Supera Anesthesia Innovations, Medtronic, Conduct Science, Harvard Apparatus, RWD Life Science Co., LTD, and Vetamac, Inc. These companies have consistently invested in research and development to improve endotracheal tube design and expand their market presence. In 2023, they recorded substantial revenues, and it is expected that their strategic investments will continue to yield high returns from 2024 to 2032.
The pet herbal supplements market is expected to grow at a CAGR of 10.5% during the forecast period of 2024 to 2032, driven by several factors shaping the industry landscape. Established products like Omega-3 Fatty Acids and emerging categories like Proteins and peptides demonstrate the market's adaptability to evolving consumer preferences. Geographically, while North America leads in revenue, the Asia-Pacific region is poised for rapid growth, showcasing the global nature of the pet herbal supplements market.
The therapeutic Area Market refers to a certain area of diseases or ailments for which there are established medical treatments or prospective remedies in development. It is a method of classifying pharmaceuticals without regard to the type of therapy, mode of action, or manufacturer, but rather by the ailment it treats. Oncology expenditures are predicted to exceed US $300 billion by 2025. With estimated expenditures of roughly US $190 billion, immunology is expected to rank second.
According to the January 2021 publication "The Longitudinal Ageing Study in India (LASI)," around 75 million Indians aged 60 and older suffer from a chronic condition. Around 45 million suffer from cardiovascular disease and hypertension, while 20 million have diabetes. Consequently, the high prevalence of chronic diseases in the country will increase the demand for cost-effective therapies, such as digital therapeutic devices, and drive the market under study. There has been an increase in the therapeutic use of technology for medical ailments. People in developed markets are becoming increasingly aware of the advanced medical treatments available. The Organization for Economic Co-operation and Development said in July 2019 that healthcare spending as a percentage of GDP climbed significantly in 2020, as the economic situation deteriorated and health spending soared in several OECD nations. In 2020, health expenditures per capita for a group of 16 nations are projected to increase by approximately 4.9% on average. So, the choice has turned toward enhanced services in the medical industry, including the rising demand for therapeutic gadget developments. Product approval is another aspect contributing to the expansion of the industry. In December 2020, for instance, the United States Food and Drug Administration granted San Francisco and London-based Mahana Therapeutics a De Novo marketing authorization for a product called Parallel, which according to company literature is an 8-week cognitive behavioral therapy program for people with irritable bowel syndrome. Such approvals will stimulate market expansion.
The increasing prevalence of chronic illnesses contributes to the segment's expansion. According to the International Diabetes Federation (IDF), roughly 536 million adults (20-79 years of age) had diabetes in 2021, and this number will increase to 783 million by 2045. In the majority of countries, the prevalence of type 2 diabetes is increasing, and 79% of adults with diabetes reside in low- and middle-income countries, where 1 in 5 persons over 65 have the disease. In the majority of countries, the prevalence of type 2 diabetes is increasing, and 79% of adults with diabetes reside in low- and middle-income countries, where 1 in 5 persons over 65 have the disease.
Acute Market Reports specializes in market research and consulting for therapeutic area markets. Our clients benefit from Acute Market Reports' futuristic research technique, which enables them to make timely, well-considered business decisions. We work with a wide range of industry participants to give cutting-edge strategic research solutions to our global clients.
