Healthcare IT Market Size Worth $147.3 Billion By 2027

The global healthcare IT market size is expected to reach USD 147.3 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.3% from 2020 to 2027. Increasing prevalence of chronic diseases, growing inclination towards automating, and depending on computationally prepared information to facilitate patients’ database and maintaining a single point of access is driving the demand for healthcare IT solutions. This, in turn, is significantly contributing to market growth.

Moreover, initiatives taken by public and private organizations to transform the existing healthcare infrastructure by providing more advanced healthcare IT solutions are anticipated to drive the market during the forecast period. In June 2020, GE Healthcare launched Thoracic Care Suite to detect chest X-Ray abnormalities such as pneumonia and tuberculosis caused by COVID-19 as well as to support clinicians and health systems to ensure quick diagnosis and effective treatment for patients.

In 2019, North America dominated the market owing to increasing demand for quality healthcare, growing focus on patient safety and care, increasing implementation of tele-monitoring, tele-orientation, and tele-consultation services. In addition, rising awareness of EHRs is expected to drive the market in the region. On the other hand, Asia Pacific is anticipated to be the fastest growth during the forecast period owing to the increasing incidence of chronic diseases, growing geriatric population, government initiatives to support the adoption of technology-driven tolls, and the increasing prevalence of COVID-19 in the region. For instance, in June 2020, the government launched the Make in India’s healthcare sector plans to develop healthier societies and support newer models of telemedicine.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/healthcare-it-market

Further key findings from the report suggest:

The growth of the healthcare IT market is owing to rising geriatric population and growing demand for preventive healthcare services
The Electronic Health Records (EHRs) segment dominated the market in 2019, owing to increasing implementation of EHRs in healthcare facilities
North America dominated the market in 2019 owing to improved healthcare infrastructure and the rising prevalence of chronic diseases in the region.

Transdermal Drug Delivery System Market Worth $81.4 Billion By 2024

The global transdermal drug delivery system market is expected to reach USD 81.4 billion by 2024, according to a new report by Grand View Research, Inc. The unprecedented global shift in the adoption of unhealthy lifestyles is presumed to be responsible for the high prevalence of chronic diseases, such as cancer and diabetes, which is expected to drive the clinical urgency to incorporate transdermal drug delivery systems in the future treatments. Moreover, the rising geriatric population base, which is highly susceptible to developing the aforementioned chronic diseases are expected to propel the demand for highly efficacious pharmacological drugs.

The market is driven by technological advancements in transdermal drug delivery devices, which is anticipated to serve the market with future growth opportunities. These advancements include advanced, third-generation, transdermal drug delivery technologies including iontophoresis, ultrasound, and microneedles or mechanical arrays. These technologies serve as effective transdermal drug diffusion alternatives that are capable of improving overall patient health and quality of life. For instance, the advent of matrix-controlled transdermal drug diffusion comprising a drug reservoir and a thermo effector enhances skin permeation and enables controlled drug delivery.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/transdermal-drug-delivery-systems-industry

Further key findings from the study suggest:

The cardiovascular application segment is expected to exhibit growth at a significant CAGR of over 12.0% during the forecast period. This is a consequence of the high clinical urgency to curb hypertension and the need for precise drug delivery at a constant rate, which has led to the development of transdermal drug delivery systems.
The mechanical array in the technology segment is anticipated to witness an exponential CAGR of over 12.5%. The lucrative growth is attributed to the availability of different forms of microneedle transdermal systems, such as solid, hollow, and dissolving microneedles, as per the suitability and needs of the patients.
In 2015, North America dominated the overall Transdermal Drug Delivery System Market at over 50.0%. The consistent number of product launches being undertaken and the continual participation of the prominent players in conducting clinical trials are anticipated to promote the incorporation of transdermal drug delivery systems.
The key players are increasingly involved in initiating collaborative strategies and frequent product launches to capture a larger market share. For instance, in September 2014, Noven Pharmaceuticals, Inc. received FDA approval for Minivelle, estradiol transdermal system to be used for the prevention of postmenopausal osteoporosis. Furthermore, in June 2015, Boehringer Ingelheim GmbH sponsored the clinical trials, which investigated the bioequivalence of transdermal clonidine administration.

Robotic Nurse Assistant Market Size Worth $1,642.2 Million By 2026

The global robotic nurse assistant market size is expected to reach USD 1,642.2 million by 2026, according to a new report by Grand View Research, Inc. Rising geriatric population and decrease in the nurse-to-patient population are some of the factors contributing to the growth of robotic nurse assistant in the coming years. Rising research funding in healthcare robotics is expected to drive the demand for robotic nurse assistant over the forecast period.

Independence support robots dominated the product type segment with a market share of 42.7% in 2018. Growing geriatric population requiring continuous nursing assistance has increased the demand for independence support robots. On the other hand, daily care & transportation robots segment is expected to witness the fastest CAGR between 2019 to 2026. The ability to automate repetitive tasks with great accuracy is one of the major factors driving the growth of this segment.

Hospitals and clinics dominated the end-use segment in 2018, with a revenue of USD 182.4 million and are expected to remain the largest segment over the forecast period. Senior care facilities segment is anticipated to witness the fastest growth, with a CAGR from 2019 to 2026 owing to the rising need for intensive patient care to the elderly and disabled population.

North America dominated the robotic nurse assistant market with the revenue share of 40.5% in 2018, owing to higher economic capabilities of hospitals and clinics to invest in robotic nurses. This region is anticipated to witness lucrative growth due to its expanding geriatric population, which is directly responsible for the rising demand for robotic nurse assistants. The U.S. dominates the North America market with 87.8% revenue share in 2018. High healthcare expenditure and well-established healthcare infrastructure are some major factors driving the demand for robotic nurse assistant in this region between 2019 to 2026.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/robotic-nurse-assistant-market

Further Key Findings From the Report Suggest:

North America accounted for the largest revenue share 2018, owing to factors such as large geriatric population and rising need to maintain the ratio of nurses to patient’s population
Independent support robots segment dominated the product segment in 2018 owing to rising funding for the development of nurse assisting robots
Hospitals and clinics segment dominated the market with a revenue of USD 182.4 million due to growing adoption of healthcare robots for supporting elderly population
Some of the key market players in this market are Hstar Technologies, Diligent Robotics, Toyota Motor Corporation, RIKEN-SRK, SoftBank Robotics, Panasonic, Fraunhofer IPA, Aethon and others.

Liposuction Surgery Devices Market Size Worth $1.2 Billion By 2026

The global liposuction surgery devices market size is expected to reach USD 1.2 billion by 2026 at a CAGR of 11.7%, according to a new report by Grand View Research, Inc. Increased awareness regarding new cosmetic treatments in the developed economies, such as North America is one of the major driving factors of the liposuction surgery devices. In addition, integration of modern technology and adoption of technologically advanced surgical devices is fueling market growth.

The growing demand for cosmetic surgeries across the globe is another driving factor of this market. Lipoplasty is one of the common cosmetic surgeries witnessed in the United States. Annually, more than 3,00,000 liposuction surgeries are operated with an approximate cost of $2000-3500. High disposable income of consumers is another driving factor for the growth of liposuction surgery in North America. These factors are expected to propel the industry growth.

Suction-assisted lipectomy, power-assisted, ultrasound-assisted, laser-assisted, and RF-assisted are some of the current technologies used in surgeries. Different technologies are used based on the patient’s body characteristics and cosmetic surgeon’s preference. The right use of technology will bring a better outcome to the lipoplasty surgery.

In addition, the rising obesity cases are increasing the demand for liposuction surgery. However, minor complications, such as numbness, swelling, bad bruising, and more associated with targeted surgery is hampering market growth. Nonetheless, increasing research and development in the domain and launch of new technologies are expected to overcome these drawbacks.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/liposuction-surgery-devices-market

The standalone segment accounted held a dominant share of the liposuction surgery devices market in 2018 in terms of revenue. Easy usage, convenience, and growing innovations in the devices are expected to propel the segment growth in the coming years
Growing number of qualified & trained cosmetic surgeons, and practitioners are encouraging patients to opt for such cosmetic surgeries.
Laser-assisted liposuction (LAL) segment held a significant share of the market due to the increasing adoption owing to its benefits, such as a quick and effective way of removing body fat.
Key players of the market include Solta Medical, Cynosure Inc., Sciton Inc., Wells Johnson Co, Invasix Ltd, Zeltiq aesthetics Inc, Alma Lasers, Bausch Health, Genesis Biosystems, Inc., Hologic Inc., and YOLO Medical Inc.

Industrial IoT Market Size Worth $949.42 Billion By 2025

The global industrial internet of things market size is expected to reach USD 949.42 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 29.4% during the forecast period. Rising demand for machine-to-machine systems, the need to contextualize the Operation Technology (OT) data, and preference for predictive maintenance are the factors anticipated to drive the Industrial IoT market growth.

Having realized that IIoT can help in drastically improving functional efficacies, several companies across the globe are implementing predictive maintenance techniques based on smart sensors and compatible software. Predictive maintenance can particularly aid in limiting the equipment downtime and improving the safety factor.

The plummeting prices of sensors and data analytics software are also encouraging enterprises to adopt IIoT. As such, growing focus on investing in digital literacy rather than in infrastructure and the subsequent growth in investments in the adoption of advanced analytics tools is turning out to be another emerging trend among manufacturing entities.

The IIoT market continues to evolve in line with the rising preference for cloud integration coupled with the continued adoption of state-of-the-art data analytics tools and smart sensors for facility and inventory management and optimization of logistics and supply chain using smart metering. The IIoT market for agriculture end use is expected to witness considerable growth as the use of IIoT for applications, such as managing of water and soil, operating drones for field monitoring, livestock monitoring, precision farming, and managing smart greenhouses, gains tractions. However, concerns over security, technology integration, and asset-level visibility are some of the factors expected to the restraint the market growth over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/industrial-internet-of-things-iiot-market

Further key findings from the report suggest:

Businesses are increasingly leveraging the benefits of IIoT solutions to control costs, improve the overall quality, and gain economies of scale by enhancing their data analytics using predictive maintenance
Managed IIoT services segment is projected to witness significant growth over the forecast period as the implementation of IoT technology needs an amalgamation of managed IIoT services at every layer of the IIoT ecosystem
Asia Pacific is expected to outgrow North America industrial IoT market and emerge as the highest revenue-generating region owing to the government investments and initiatives to encourage the implementation of IIoT in the region
Companies involved in manufacturing and industrial operations are seeking to connect their SCADA, HMI, and control networks to higher-level enterprise systems, which is expected to increase the adoption of IIoT solutions among these companies

B2C E-commerce Market Size Worth $6.2 Trillion By 2027

The global B2C e-commerce market size is anticipated to reach USD 6.2 trillion by 2027, registering a CAGR of 7.9% over the forecast period, according to a new report by Grand View Research, Inc. The increasing disposable income level, escalating usage of internet and smartphones, and an increasing number of online shoppers are expected to drive the market growth. Online goods and service providers offer various options to its customers, such as vast product portfolio, discounted price rates, convenient payment methods, same-day delivery, and easy return policies while purchasing any goods or services, resulting into growing customer preference toward e-commerce platforms.

The General Agreement on Trade in Services (GATS) provides the rules and regulations governing international trade in services, with significant implications for e-commerce. The anti-Spam Law is placed to protect consumers from receiving unsolicited marketing material. Although online businesses collect information from consumers, they are legally prohibited to spam people’s inboxes without their consent. Technological advancement supported by increasing usage of artificial intelligence (AI) is providing customers with the real-time shopping experience. For instance, augmented reality (AR) technology offers customers ‘virtual changing rooms’ wherein customers can try a product virtually.

The rapid evolution of e-commerce has brought numerous opportunities to both nascent as well as established players in the market. However, online payment processes have witnessed few challenges in the recent past. The interconnected and instantaneous nature of online payment channels have increased vulnerability towards cybercrime, digital frauds, and other malpractices. To overcome these cyber security concerns, it is essential to emphasize service security and protection of consumer’s data.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/b2c-e-commerce-market

Further key findings from the report suggest:

Clothing and footwear segment accounted for the largest market share in 2019, owing to increasing penetration of retail sales over online channels, accessories, and footwear spending
Asia Pacific dominated the market in terms of revenue in 2019 and is expected to register significant growth over the forecast period. The growth is attributed to the presence of a large number of B2C e-commerce providers in the region
Partnership, collaboration, and business expansion remain the major strategies adopted by the leading market players

Digital Map Market Size Worth $16.15 Billion By 2027

The global digital map market size is estimated to reach USD 16.15 billion by 2027, registering a CAGR of 13.0% from 2020 to 2027, according to a new study by Grand View Research, Inc. The market is expected to witness significant rise in demand from navigational application developers and Geographical Information System (GIS) providers, driven by a growing end-user base. The prolific rise in the number of smartphone and internet users has further augmented market growth. Moreover, growth in the number of connected and semi-autonomous cars and anticipated developments in self-driving and navigation technology, among others is expected to drive the demand for digital maps.

Digital cartography has been gaining increasing attention in recent years owing to a rapid growth in demand for geospatial information. Applications such as smart parking, location, traffic and congestion intelligence, and logistics management need routing and congestion updates in real time. As digital cartography has been developing at a rapid rate, it can support these applications with data feeds and information. In addition, the increasing number of businesses that are using location-based services for marketing and advertising is also estimated to accelerate the demand in the forthcoming years.

Digital mapping is also finding renewed demand in the government and public sector as the demand for environmental and topographical information systems is on the rise. Furthermore, the need to maintain an updated information system for law enforcement officials, defense forces, and local governing bodies in light of recent manmade and natural threats is anticipated to propel the demand for maps. Smooth interaction between maps and information systems is one of the most important criteria for product success in the market owing to which vendors are expected to focus more on data integration over the forecast period. As the digital map industry matures, key players are anticipated to indulge in mergers and acquisitions in order to keep abreast of the market developments and maintain a competitive edge in a rapidly evolving technological landscape.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/digital-map-market

Further key findings from the study suggest:

Digital orthophotography type is anticipated to emerge as the fastest-growing segment over the forecast period owing to the growth of image-processing, data analysis technology, and the increasing applications in multiple end-use segments such as automotive and mobile devices
Management services segment is expected to witness significant growth over the forecast period due to the growing demand for development, deployment, and integration of advanced digital maps for business analysis and earth mapping
Automotive end-use segment is expected to witness the highest growth over the forecast period owing to the increasing collaborations and partnerships between automotive manufacturers, in-dash navigation system providers, and digital map data providers for integration of advanced real-time navigation systems
Revenue generation models are estimated to differ considerably in the forthcoming years with some vendors opting for revenue generation from data and information sales, while others opting for location-based services. There is also a high probability of vertical integration in the industry
Developing regions are expected to witness exploration activities, whereas developed countries would witness a growth in demand for real-time data and information. Asia Pacific is the fastest-growing regional segment due to the growth in the number of smartphone users as well as the number of vehicles. Recent technological developments and rising demand for smartphones are the factors expected to have a profound effect on the Personal Navigation Devices (PND) market
The key digital map market participants include, ESRI, Inc.; Google, Inc.; DigitalGlobe, Inc.; Apple Inc.; HERE Holding Corporation; Getmapping PLC; Micello, Inc.; and TomTom International B.V.

Passive Optical Network Market Size Worth $43.43 Billion By 2025

The global passive optical network market size is expected to reach USD 43.43 billion by 2025, according to a new report conducted by Grand View Research, Inc. Passive optical network equipment offers higher efficiency with better bandwidth and utilizes larger variable length packets. The telecom operators in the industry are transitioning their switches from fiber to the business to the fiber to the home and fiber to the building rollouts leading to the growth of PON equipment.

The equipment market is consolidated in nature with few major players dominating their presence in the market. Hence, mergers and acquisitions and strategic alliances are formed to recognize the transformational value of the products associated. The advancements in the networking technologies have led to the development and adoption of optical network services.

Furthermore, the increasing focus of players on upgrading the existing networks to PON for higher broadband speed and the growing number of connected devices both outside and inside the residential complexes is anticipated to proliferate the industry.

The increasing demand for energy conservation and strong optical network setup is expected to fuel the market growth. Emerging regional markets, such as Asia Pacific, offer strong growth opportunities for the technology owing to intensive bandwidth applications.

Increasing R&D and investments from private and public sectors along with factors such as exceeding data traffic are projected to be the key drivers for the industry. The North American and European regions captured a market share of over 50% owing to increasing use of passive optical network equipment.

However, short range on the operator’s premises and high installation cost at the are likely to hinder the market growth over the forecast period.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/passive-optical-network-pon-equipment-market

Further key findings from the report suggest:

Passive optical network is gaining attention in the market owing to the ability to implement a point-to-multipoint architecture
The GPON based equipment is projected to dominate the market with a CAGR of over 20% over the forecast period
Fiber-to-the-home (FTTH) applications of the market are gaining traction owing to the increasing adoption among the telecom carriers
The Asia Pacific market is expected to witness significant growth owing to increasing investments in research infrastructure
The major industry players in the PON market include Huawei Technologies Co. Ltd., Calix Inc., Alcatel-Lucent S.A., and ZTE Corporation

Artificial Vital Organs & Medical Bionics Market Worth $45.9 Billion By 2022

The global artificial vital organs and medical bionics market is expected to reach USD 45.92 billion by 2022, according to a new report by Grand View Research Inc. Key growth drivers identified in the artificial vital organs market include increasing base of geriatric population suffering from chronic diseases such as cardiovascular and respiratory diseases leading to organ failures or damage.

Furthermore, the increasing number of patients suffering from physical disabilities such as loss of limbs and arms owing to congenital factors, accidents, serving in armed forces and industrial accidents is likely to positively reinforce medical bionics market growth over the forecast period.

The proliferation of universal health coverage schemes launched by various governments and increasing public and private reimbursement policy coverage are major trends expected to boost the usage rates of artificial vital organs and medical bionics in the next seven years.

The artificial vital organs market includes products such as artificial heart, pancreas, kidneys, and lungs. These are used for organ transplantation in patients suffering with organ damages or complete organ failures.

In 2014, artificial kidney market accounted for the largest market share of over 60% owing to increasing prevalence of high blood sugar, hypertension, post-surgery infections, glomerular diseases, injury or burns, HIV, and other risk factors.

Artificial liver is expected to be the fastest growing product segment growing at a lucrative rate over the forecast period of seven years. Key factors attributing to its rapid growth include increasing prevalence of chronic lung diseases such as COPD and disadvantages of using mechanical ventilators.

The medical bionics segment includes products such as brain, ear, vision bionics, exoskeleton, and bionic limbs. In 2014, brain bionics held the largest market share of nearly 41% due to the continually increasing number of patients suffering from neurological conditions. Furthermore, non-invasive nature of spinal cord stimulators, vagus nerve stimulators, and deep brain stimulators are key factors positively impacting market growth in the next seven years. Exoskeletons are likely to witness a rapid rise in demand owing to its wide applications in rescue, emergency response, home healthcare, and patient rehabilitation.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/artificial-vital-organs-and-medical-bionics-market

Further key findings from the report suggest:

North America accounted for the largest market share of over 40% in 2014 owing to increasing prevalence of geriatric population suffering with organ damages or failures coupled with increasing numbers of physically challenged persons opting to use prosthetic limbs due to rising awareness and better reimbursement policies for such procedures
Asia Pacific is expected to be the fastest growing market in the next seven-year period. Key factors contributing to growth in Asia Pacific are increase in public and private healthcare expenditure, penetration of healthcare insurance across urban and rural centers. Furthermore, increase in chronic diseases and increase in medical tourism are also expected to significantly boost the artificial vital organ transplant and medical bionics market over the forecast period.
The global vital organ transplant and medical bionics market is dominated by players such as Abiomed, Touch Bionics, Baxter, Medtronics, Ottobock Healthcare, and Heartware.

Liver Diseases Therapeutics Market Growth By Industry Players Till 2022

The liver diseases therapeutics market had value over USD 7,498.0 million in 2014. The major driving factors are increasing numbers of liver diseases like hepatocellular carcinoma and vast unexploited need of patients with these types of diseases. In addition, increasing geriatric population globally is estimated to augment the market demand in the future period.

Huge expenditure by biotechnology and pharmaceutical industries on R&D and availability of sturdy pipeline are the major expected boosting factors for the growth of liver diseases therapeutics market in future period. Governments’ and big companies’ vaccination program are creating awareness about the illness and prevention is boosting the growth of the market.

The market is bifurcated into products and regions. New products are rapidly being launched boosting the market growth. The growth of the market is boosted by the strategic alliances, joint venture between the major players, and growing awareness of healthcare in the upcoming nations.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/liver-diseases-therapeutics-market

Nonetheless, risks and side effects linked with existing medication & stringent FDA and other norms approved by the government along with accessibility of varying treatment measures perform as barriers to the industry. The market was dominated by the antiviral drug sector with a value over USD 2631 million in revenue terms in 2014.

Rising population with liver diseases due to increasing number of alcohol consumers is estimated to boost the market share. Alternatively, the antiviral drug is estimated to observer profitable raise of over 8.8% from 2015 to 2022. This is due to the occurrence of drugs in the pipeline.

The market is estimated to be at over USD 12095.0 million by 2022. This is going to happen due to the increasing geriatric population, rising liver ailments like hepatocellular and hepatitis carcinoma along with high requirement for programs on vaccination in developing nations and high spending on growing healthcare in the developed nations.

North America is dominating the global market due to academic and research institutions performing studies related to medical trials. North America had more than 39% share of the global market in 2014 and is anticipated to carry on leading till 2022. Asia Pacific had share over USD 1615.5 million in 2014 and is estimated at CAGR over 8.5% in the future.

Few of the major industries are Abbott Laboratories, Gilead Sciences, Astellas Pharma Inc., GlaxoSmithKline plc, Bristol-Mayers Squibb, and Merck & Co., Inc.