Point Of Care Diagnostics & Testing Market Size, Growth Rate, Global Trends and Future Forecasts to 2028

The global point of care diagnostics & testing market size is estimated to reach USD 35.74 billion by 2028, registering a CAGR of 3.25%, according to a new report by Grand View Research, Inc. Point of care (POC) diagnostics & testing has significantly altered the therapeutic models applied for the treatment of diabetic patients, HIV patients, and patients with Cardiovascular Disorders (CVDs), in recent years. In addition, emerging advancements on the horizon are projected to enhance the near-patient treatment workflows for infectious diseases, strokes, and cancer.

The industry is set to witness lucrative growth as POC testing serves as a profitable alternative to traditional laboratory tests. Point-of-care devices are designed to offer actionable information at the location and time of patient care, which enables early diagnosis of diseases. The advent of non-invasive & minimally invasive POC devices, continuous POCT, miniaturized technologies, and the adoption of telemedicine in remote patient monitoring are some of the key trends contributing to the market growth.

Moreover, the advent of rapid data sharing solutions as well as platforms is set to contribute to the development of POC COVID-19 tests, supplementing the overall market growth. Companies actively working toward the development of such rapid data sharing solutions include Foundation for Innovative New Diagnostics (FIND) and 360 Dx. The rising number of such companies is set to offer manufacturers/developers and professionals a clear perspective with respect to the future opportunities associated with POC COVID-19 tests.

The development of multiplex POC diagnostic technologies that enable the detection of multiple infectious pathogens in specimens, such as sputum, urine, or blood, offers improved patient outcomes and better disease diagnosis. The wide adoption of multiplex POC devices is anticipated to serve as a driver for the shift in preference from a centralized disease testing model to a decentralized patient-centered model.

Major companies are initiating strategic product launches to strengthen their market presence. For instance, in October 2020, Roche announced the launch of the Elecsys SARS-CoV-2 Antigen test that supports COVID-19 testing of suspected patients at high volumes. In April 2020, Nova Biomedical introduced PT/INR testing for its Allegro capillary blood analyzer to be used in POC primary care settings. This test is available in CE-regulated countries.

PR/INR is among the total 18 tests of the Allegro platform and is designed to measure HbA1c, hemoglobin, cholesterol, glucose, triglycerides, UACR, creatinine, hematocrit, and uric acid. This product expanded the testing portfolio of the company’s Allergo platform.

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Point of Care Diagnostics & Testing Market Report Highlights

• The glucose testing product segment led the market in 2020 due to high demand for POC glucose monitors for routine glucose testing as a result of an increased number of diabetic patients across the globe
• The infectious disease product segment is expected to account for the highest revenue share by 2028. This growth is majorly attributed to the global COVID-19 pandemic
• The first POC diagnostic test for COVID-19 was approved by the U.S. FDA in March 2020 under Emergency Use Authorization, which was manufactured by Cepheid
• Since then, key players in this market are engaged in developing and manufacturing such tests, which, in turn, is boosting the segment growth
• The clinics end-use segment accounted for the dominant revenue share in 2020 and will expand further at a steady CAGR from 2021 to 2028 owing to increasing transition from conventional lab testing to POCT by healthcare professionals to shorten the time taken for diagnosis and further treatments
• Led by the U.S., North America was the leading regional market in 2020 and held a revenue share of more than 34%

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About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com

Dental Equipment Market - In-Depth Industry Analysis, New Trends, and Future Growth Potential 2028

The global dental equipment market size is expected to reach USD 16.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.1% from 2021 to 2028. The market is segmented on the basis of dental radiology equipment, dental lasers, systems and parts, laboratory machines, hygiene maintenance devices, and other equipment. These devices assist in diagnosis, treatment, and maintenance of oral health enabling practitioners to prepare a precise course of treatment.

Companies like Planmeca are constantly bringing in newer computer-aided technology in the market. For instance, in March 2019, the company launched Planmeca Creo C5, which is an advanced 3D printer designed to provide chairside CAD/CAM dentistry and restorative dental practices in a single visit. Drivers like, rising prevalence of oral disorders, the introduction of favorable government initiatives for oral health, and rising medical tourism pertaining to oral procedures are assisting towards the overall market growth.

According to the estimates published by the United Nations in 2019, there were 703 million people aged over 65 years globally, and the number of older individuals is projected to double to 1.5 billion by 2050. The rising prevalence of such oral conditions in the geriatric population is likely to increase the demand for preventive, restorative, and surgical services in the future. According to the American Dental Association, 85.0% of individuals in the United States value oral health and consider it as an essential aspect of overall care. The realization of the importance and maintenance of oral health combined with better access to advanced dental services will help in the growth of the market. However, the “emergency-only” mode of dental care delivery due to the COVID-19 pandemic may have a rippling effect and the market will witness an imminent increase in availing cost of oral care. According to the Journal of Contemporary Dental Practice, dental services may be among the last to relaunch in post-pandemic relaxations since procedures are at high risk of transmission. This might result in serious financial problems and revenue loss for the market.

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Dental Equipment Market Report Highlights

• Dental system and parts emerged as the largest product segment in 2020, as these equipment are used for digital imaging and diagnosis of dental ailments
• The dental lasers segment is expected to witness the highest CAGR during the forecast period, owing to its increasing application in surgical and teeth whitening procedures
• North America dominated the market in 2020. With the increasing demand for new technologies, a large pool of key players, a rising prevalence of oral disorders, and advanced healthcare infrastructure 
• Asia Pacific is expected to reciprocate the highest CAGR over the forecast period 

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Dental Equipment Market Segmentation

Grand View Research has segmented the global dental equipment market on the basis of product type and region:

Dental Equipment Product Type Outlook (Revenue, USD Million, 2016 - 2028)

• Dental Radiology Equipment 
• Intra-Oral

• Digital X-ray Units
• Digital Sensors
• Extra-Oral
• Digital Units
• Analog Units
• Dental Lasers
• Diode Lasers
• Quantum well lasers
• Distributed feedback lasers
• Vertical cavity surface-emitting lasers
• Heterostructure lasers
• Quantum cascade lasers
• Separate confinement heterostructure lasers
• Vertical external-cavity surface-emitting lasers
• Carbon Dioxide Lasers
• Yttrium Aluminium Garnet Lasers
• Systems & Parts
• Instrument Delivery systems
• Vacuums & Compressors
• Cone Beam CT Systems
• Cast Machine
• Furnace and Ovens
• Electrosurgical Equipment
• Other System and Parts
• CAD/CAM
• Laboratory Machines
• Ceramic Furnaces
• Hydraulic Press
• Electronic Waxer
• Suction Unit
• Micro Motor
• Hygiene Maintenance Devices
• Sterilizers
• Air Purification & Filters
• Hypodermic Needle Incinerator
• Other Equipment
• Chairs
• Hand Piece
• Light Cure
• Scaling Unit

Dental Equipment Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Russia
• Asia Pacific
• India
• Japan
• China
• Australia
• South Korea
• Singapore
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Dental Equipment Market

• A-Dec Inc.
• Planmeca Oy
• Dentsply Sirona
• Patterson Companies Inc.
• Straumann
• GC Corporation
• Carestream Health Inc.
• Biolase Inc.
• Danaher Corporation
• 3M EPSE

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com

 

Track And Trace Solutions Market - In-Depth Industry Analysis, New Trends, and Future Growth Potential

The global track and trace solutions market size is expected to reach USD 14.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.2% from 2022 to 2030. The market growth is majorly attributed to the increasing focus of pharmaceutical and biopharmaceutical companies on ensuring brand protection from counterfeit products and theft. The deployment of track and trace solutions helps manufacturers enhance distribution channel efficiency and reduces the frequency of counterfeit products.

Furthermore, the rising adoption of track and trace solutions by healthcare manufacturers would fuel the market growth in the long run. The introduction of advanced technologies such as RFID provides fast reading and delivers high levels of security. However, the deployment cost of serialization and aggregation solutions and the lack of common regulations and standards may hamper the market growth in a few developing geographies.

Regulatory compliance has become an incessant need across the globe to ensure product authenticity. The global rise of counterfeit goods has been crucial in increasing the implementation of track and trace solutions over various verticals. The majority of the developed nations have already integrated these solutions to mitigate the risk of product recalls, disease outbreaks, and tarnishing of brand names to reduce unauthorized parallel supply chains that promote illegal supply chain logistics and crime. Rising initiatives by the government and regulatory authorities are paving way for the increased adoption of track and trace solutions. Serialization has been the prime method that facilitates easy track and trace of products globally.

US CBP and customs of other member countries as well as the World Customs Organization reported the seizures of false coronavirus tests and personal protective equipment like facemasks and hand sanitizers. For instance, in May 2020, Smartrac teamed up with SUKU to validate COVID-19 testing kits and personal protective equipment to permit prompt verification and deliver end-to-end supply chain transparency. Hence, it is estimated that the market will witness lucrative growth opportunities due to the COVID-19 outbreak.

The track and trace market comprises a large number of global as well as local players. These companies are undertaking strategic collaborations and partnerships with their customers and other manufacturers in the market. For instance, in January 2021, OPTEL partnered with Bureau Veritas and introduced a V-TRACE traceability solution for the management of COVID-19 vaccine supply chain logistics. Moreover, in June 2021, Markem-Imaje acquired Blue Bite LLC, a New York, U.S-based provider of workflow software solutions for product marketers and brand owners.

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Track And Trace Solutions Market Report Highlights

• The software solutions product segment was the largest revenue-generating segment in 2021. This is mainly because of the regulatory mandates for the execution of serialization and aggregation in the healthcare sector
• The serialization solutions application segment was the largest grossing segment in 2021. Increasing application of serialization in pharmaceutical and medical device packaging will be a vital factor contributing to the segment growth
• The RFID technology segment is expected to exhibit the fastest growth rate during the forecast period. The key factors contributing to the growth of the segment are technological advantages, such as high durability and reusability, more data storage capacity, and no requirement of the line of sight
• North America led the global market in 2021. The rising implementation of regulatory standards and regulations, along with the high adoption rate of track and trace solutions by consumers, is anticipated to contribute to the market growth 

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Track And Trace Solutions Market Segmentation

Grand View Research has segmented the global track and trace solutions market on the basis of product, technology, application, end-use, and region:

Track And Trace Solutions Product Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware Systems

• Printing & Marking Solutions
• Monitoring & Verification Solutions
• Labeling Solutions
• Others
• Software Solutions
• Plant Manager Software
• Line Controller Software
• Bundle Tracking Software
• Others

Track And Trace Solutions Technology Outlook (Revenue, USD Million, 2017 - 2030)

• Barcode
• RFID

Track And Trace Solutions Application Outlook (Revenue, USD Million, 2017 - 2030)

• Serialization Solutions

• Bottle Serialization
• Label Serialization
• Carton Serialization
• Data Matrix Serialization
• Aggregation Solutions
• Bundle Aggregation
• Case Aggregation
• Pallet Aggregation

Track And Trace Solutions End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Pharmaceutical Companies 
• Medical Device Companies   
• Healthcare Others
• Food and Beverage
• Consumer Packaged Goods
• Luxury Goods

Track And Trace Solutions Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Switzerland
• Belgium
• Russia
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa
• South Africa
• Saudi Arabia
• Egypt

List of Key Players of Track And Trace Solutions Market

• Axway
• Mettler-Toledo International, Inc.
• Optel Vision
• TraceLink, Inc.
• Adents
• Antares Vision S.r.l
• Siemens AG
• Korber AG
• ACG Worldwide
• Markem Imaje, a Dover Company

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com

 

Pharmaceutical Analytical Testing Outsourcing Market Growth & Trends

The global pharmaceutical analytical testing outsourcing market size is expected to reach USD 12.4 billion by 2028 registering a CAGR of 8.3%, according to a new report by Grand View Research, Inc. Increasing pipelines for biological candidates along with rising demand for additional analytical details on drugs as well as process development by regulatory agencies are boosting the market growth. Analytical testing helps in providing real-time product quality control along with optimizing & monitoring processes, characterize biosimilar & biologics, and improving productivity. One of the main reasons for outsourcing analytical testing services is to access skilled & experienced expertise, as well as expensive analytical equipment not available in-house.

Increasing R&D investments is one of the critical sustainability strategies. Not all companies have an infrastructure that is compatible with all types of analytical testing. Hence, outsourcing these operations is the most suitable option, which also helps save time and cost. A patent cliff largely for small molecules with the pharmaceutical industry has led to a huge dent in the pharma’s profits. In the coming years, several best-selling drugs are coming towards the end of patent life including Humira. Drug innovators are under constant pressure to launch new products. Developing advanced analytical testing to assess & monitor the quality attributes of these requires a broader set of equipment & expertise, which is beyond the internal capacity of pharma companies.

The market is developing due to increasing competition in the pharmaceutical and biopharmaceutical markets for disease-specific drugs. Most pharmaceutical manufacturing companies rely on analytical testing to help and improve productivity, optimize and monitor processes, and offer real-time product quality control. Due to this, there is an increasing demand for analytical testing outsourcing services. Hence the market is expected to show lucrative growth over the forecast period. Outsourcing of analytical testing services allows companies to handle more complex activities and focus on their core competencies. This offers cost savings by letting medical companies evade building specialized facilities and hiring staff. Pharmaceutical analytical testing includes the identification and quantification of components in therapeutic solutions or drugs.

The nature of Covid-19 transmission has led several laboratory staff members to face uncertainties, such as fears of contracting the infection along with other biosafety concerns. Thus, reduced manpower and increasing focus on the development of vaccines & therapies against Covid-19 are anticipated to negatively impact the turnaround time for routine tests. The large number of R&D activities, clinical trials, and diagnostic procedures being conducted to counteract Covid-19 is anticipated to increase the demand for analytical testing services since several pharmaceutical companies are now focusing on their core competencies and outsourcing non-core functions to increase their productivity & operational efficiency.

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Pharmaceutical Analytical Testing Outsourcing Market Report Highlights

• The bioanalytical testing segment led the global market in 2020 accounting for the largest revenue share due to the high number of clinical trial registrations and entry of new participants within the market space
• The segment is also expected to register the fastest CAGR over the forecast period owing to growing R&D expenditure by pharmaceutical companies and preference for outsourcing bioanalytical testing
• The extractable and leachable services in the method development and validation segment is expected to dominate the market and register the fastest CAGR owing to an increasing number of vendors offering these services at competitive prices
• Asia Pacific is anticipated to be the fastest-growing regional market from 2021 to 2028 due to low-cost service offering by the third-party service providers in the region

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Pharmaceutical Analytical Testing Outsourcing Market Segmentation

Grand View Research has segmented the global pharmaceutical analytical testing outsourcing market on the basis of service and region:

Pharmaceutical Analytical Testing Outsourcing Service Outlook (Revenue, USD Million, 2016 - 2028)

• Bioanalytical
• Clinical
• Non-clinical
• Method Development & Validation
• Extractable & Leachable
• Impurity Method
• Technical Consulting
• Others
• Stability Testing
• Drug Substance
• Stability Indicating Method Validation
• Accelerated Stability Testing
• Photostability Testing
• Others
• Others

Pharmaceutical Analytical Testing Outsourcing Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Russia
• Turkey
• The Netherlands
• Switzerland
• Sweden
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Indonesia
• Malaysia
• Singapore
• Thailand
• Taiwan
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Chile
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Egypt
• Israel

List of Key Players of Pharmaceutical Analytical Testing Outsourcing Market

• SGS SA
• Toxikon, Inc.
• Eurofins Scientific
• Pace Analytical Services, Inc.
• Intertek Group Plc
• Pharmaceutical Product Development, LLC.
• WuXi AppTec, Inc.
• Boston Analytical
• Charles River Laboratories International, Inc.
• West Pharmaceutical Services Inc.

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com

 

Pharmaceutical Robots Market Trends, Applications, Analysis, Growth, And Forecast To 2028

The global pharmaceutical robots market size is expected to reach USD 297.4 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.3% from 2021 to 2028. The growing pharmaceutical industry and numerous benefits offered by robotic systems in product manufacturing, such as improved production output and product quality, increased production flexibility, lesser space utilization, no labor turnover, low operating costs, enhanced health and safety, reduced production downtime, and better waste management, are driving the adoption of these products, thereby aiding the market growth. According to an article published by Mint in April 2020, the adoption and usage of robotic technology are expected to increase in India across all types of healthcare settings, despite their high prices, owing to the availability of a smaller number of healthcare professionals for more than 1.3 billion population.

In 2020, the traditional robots product segment accounted for the largest revenue share owing to its increasing adoption in material handling, picking and packaging, palletizing, and inspection. Collaborative robots are anticipated to register the fastest growth rate during the forecast period. Many companies are replacing traditional with collaborative robots or cobots, which is a combination of humans and robotics. The adoption of cobots is significantly increasing as they combine repetitive tasks of robots and the individual skills of humans to bring in efficiency in manufacturing processes. These machines are also cheaper and easier to operate and maintain as compared to the traditional ones.

In 2020, the picking and packaging application segment accounted for the largest revenue share and is anticipated to witness the fastest growth during the forecast period. This growth can mainly be attributed to the high demand for personalized packaging and benefits associated with this segment, including high speed, efficient track and trace, and optimum utilization of the floor space. In addition, all the traditional robotic solutions are mainly used for picking and packaging. For instance, 6-axis articulated robots such as VP-6242G and VS-068A2 developed by Denso Wave Incorporated enable picking and packaging.

In 2020, the pharmaceutical companies end-use segment accounted for the largest revenue share and is anticipated to register the fastest growth rate during the forecast period. This is attributed to the increasing usage of robotics in drug discovery and development. In addition, pharmaceutical companies are involved in developing personalized medicine, which further supports the growth of the segment. Research laboratories are anticipated to witness significant growth during the forecast period owing to the ability of these automated solutions to perform repetitive tasks, such as moving test tubes and fluids, during drug discovery-related activities, facilitating a high rate of consistency and accuracy.

In 2020, Asia Pacific dominated the market and is anticipated to register the fastest growth rate during the forecast period. The rise in the demand for the production of drugs and the development of robotic machines for performing tasks with high speed, reduced risk of contamination, accuracy, and optimum utilization of space among pharmaceutical companies is boosting the regional market growth. Moreover, a rise in the number of initiatives undertaken by the government to increase the adoption of industrial robots is further aiding the regional market growth. For instance, in 2016, the Chinese government launched the Robotics Industry Development Plan (2016-2020), aimed at promoting robot applications to a wider range of fields and attracting foreign investment, to develop 100,000 industrial robots produced by domestic technology annually by 2020.

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Pharmaceutical Robots Market Report Highlights

• The market growth is attributed to various technological advancements and increasing investments in the robotics sector
• In terms of product, traditional robots dominated the market in 2020 owing to the availability of different types of traditional products for specific applications
• Based on application, the picking and packaging segment dominated the market in 2020 owing to a rise in demand for personalized packaging
• By end use, pharmaceutical companies dominated the market in 2020 owing to the rapid rate of drug discovery and high investments by the companies
• Asia Pacific dominated the market in 2020 owing to the booming pharmaceutical and industrial robotics market in the region

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Pharmaceutical Robots Market Segmentation

Grand View Research, Inc. has segmented the global pharmaceutical robots market on the basis of product, application, end-use, and region:

Pharmaceutical Robots Product Outlook (Revenue, USD Million, 2014 - 2028)

• Traditional Robots
• Articulated Robots
• SCARA Robots
• Delta/Parallel Robots
• Cartesian Robots
• Dual-arm Robots
• Collaborative Pharmaceutical Robots

Pharmaceutical Robots Application Outlook (Revenue, USD Million, 2014 - 2028)

• Picking and Packaging 
• Inspection of Pharmaceutical Drugs 
• Laboratory Applications

Pharmaceutical Robots End-use Outlook (Revenue, USD Million, 2014 - 2028)

• Pharmaceutical Companies
• Research Laboratories

Pharmaceutical Robots Regional Outlook (Revenue, USD Million, 2014 - 2028)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• Japan
• China
• India
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• South Africa

List of Key Players of Pharmaceutical Robots Market

• ABB Ltd.
• Kawasaki Heavy Industries Ltd.
• Universal Robots A/S
• FANUC America Corporation
• Yaskawa Electric Corporation
• Marchesini Group S.p.A
• Seiko Epson Corporation
• Denso Wave, Inc.

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com