Hospital Asset Tracking & Inventory Management Systems Market Worth $31.06 Billion By 2025

The global hospital asset tracking and inventory management systems market is expected to reach USD 31.06 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.0% during the forecast period. Rising need to reduce healthcare costs coupled with high prevalence of Hospital-acquired Infections (HAIs) is anticipated to boost the growth.

Manual handling of the numerous equipment and assets used in a hospital is a difficult task. A lot of time and manpower is utilized in searching and maintaining these assets. Hospital asset management allows smooth and continuous hospital operations by decreasing the time in searching these equipment. This factor is anticipated to bode well for market growth in the forthcoming years.

Availability of advanced systems and rapid technological advancements are also significant driving factors for the hospital asset tracking and inventory management systems market. For instance, the Central Manchester University hospital uses hospital asset management system, which manages over 500,000 assets. They ultimately help improve quality of life of the patients. These systems provide a positive working environment for healthcare professionals.

Regional and service portfolio expansions, and merger and acquisitions are key strategic undertakings adopted by these players. For instance, in September 2017, Zebra Technologies launched Savannah platform which comprises of configuration management, IoT end-point connectivity, data transport, machine learning components, analytics, and data storage.

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https://www.grandviewresearch.com/industry-analysis/hospital-asset-tracking-inventory-management-systems-market

Further key findings from the study suggest:

The mobile segment accounted for the largest market share in 2017 and is anticipated to exhibit significant growth in near future
The other inventory segment includes consumables. This segment is expected to showcase the fastest growth rate during the forecast period
The hardware segment held the largest market share among the types of systems in 2017
Asia Pacific is expected to exhibit high growth over the forecast period owing to improved healthcare infrastructure, rising disposable income, and investments from global players
Some of the key players operating in the hospital asset tracking and inventory management systems market include ZIH Corp, ASCOM, CenTrak, Midmark Corporation, GE Healthcare and Honeywell International Inc.

Biopharmaceutical 3PL Market Size Worth $120.64 Billion By 2025

The global biopharmaceutical third party logistics market size is expected to reach USD 120.64 billion by 2025, at a CAGR 4.9% over the forecast period, according to a new report by Grand View Research, Inc. The market for biopharmaceutical third party logistics (3PL) is majorly driven by rising demand for temperature controlled logistic services to transport biologics in various regions and growing distribution networks of biopharmaceutical companies to improve their sales. Rising adoption of automated storage and retrieval systems in the emerging countries is an ongoing trend in the pharmaceutical logistics companies that has gained a significant traction.

Furthermore, the trend of shifting from small molecule drugs to biopharmaceuticals, mainly vaccines and biologics, is projected to drive the market. Since, these small molecule drugs are temperature sensitive products, demand for temperature controlled transportation and storage increases and thus is responsible for the market growth. As of now, the pharmaceutical sales through distributors have grown from USD 304.6 billion in 2013 to USD 440.2 billion in 2016. However, the average number of manufacturers per distributor had declined from 1,474 in 2014 to 1,211 in 2016. This data depicts that there is an increase in quantity of pharmaceutical products being distributed, and thus, is expected to surge the demand for 3PL services.

Additionally, environmental concerns and cost have caused a slight shift in the means of transport used for commercial product, moving from airway to seaway shipping and in roadways from truck to intermodal (both rail and truck). The intermodal transport is majorly used by these pharmaceutical companies to reduce the carbon footprint. The ongoing trend shows that the pharmaceutical manufacturers have shifted towards sea freight to reduce the cost and risk factor. Although for cold chain products, the companies still prefer air freight. However, some of the large pharmaceutical companies are planning to transport 70% of their products via ocean freight including cold chain products.

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https://www.grandviewresearch.com/industry-analysis/biopharmaceutical-third-party-logistics-3pl-market

Further key findings from the report suggest:

In 2018, non-cold chain logistics held the largest market share in terms of revenue owing to the sales of a large number of drugs that do not require any temperature control
Cold chain logistics segment is expected to register the faster CAGR over the forecast period owing to the demand for biologics, such as cellular therapies, vaccines, and test kits
Warehousing and storage held the largest market share among the types of services in 2018
Asia pacific expected to emerge with the fastest CAGR over the forecast period owing to adoption of medicines from aging population and shift of drug sales from brand manufacturers to generic
Key players operating in the biopharmaceutical third party logistics market include DHL International GmbH., SF Express, United Parcel Service of America, Inc, AmerisourceBergen Corporation, DB Schenker, Kuehne and Nagel, Kerry logistics network limited and Agility

Single Lead ECG Equipment Market Worth $487.59 Million By 2025

The global single lead ECG equipment market size is estimated to reach USD 487.59 million by 2025, progressing at a 4.72% CAGR during the forecast period, according to a new report by Grand View Research, Inc.

Emergence of smartphone and mobile-based cardiac monitoring devices has been revolutionized the market in the past few years. Medical device manufacturers continue to invest in development of these products in order to overcome pitfalls associated with conventional means of cardiac assessment. This is, consequently, fostering the growth of the market.

An Indian company Agatsa Software Pvt. Ltd. introduced credit-card-sized ECG monitors, “Sanket”, which measures ECG in 15 seconds and displays results that can be sent to anyone across the globe via email, social media platforms, or SMS. Such advancements in ECG monitoring devices are anticipated to shape the future of the market over the forecast period.

On the other hand, government bodies are undertaking initiatives for improvement in treatment of cardiac disorders in order to satisfy escalating need for inexpensive and portable devices for regular cardiac monitoring as a preventive step. This, in turn, is expected to positively influence the growth of the market.

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https://www.grandviewresearch.com/industry-analysis/single-lead-ecg-equipment-market

Further Key Findings From the Study Suggest:

Widening base of patients suffering from cardiovascular diseases is expected to augment the single lead portable ECG equipment market
The demand for portable ECGs serving home/ambulatory services for risk identification for occurrence of cardiac diseases is projected to grow at a faster pace in the near future
The growth of the home/ambulatory segment is supported by continuous improvement in software/algorithms for regular cardiac monitoring
Availability of products that can carry out continuous and real time wireless ambulatory patient monitoring is contributing to the growth of the market
North America accounted for the largest market share in 2017, owing to well-established healthcare system coupled with rise in prevalence of cardiovascular diseases in the region
Presence of several nascent and established participants in the region further drives the R&D and novel product launches in the U.S.
Asia Pacific is likely to witness the fastest growth during the forecast period owing to rising patient awareness pertaining to portable technologies as well as increasing healthcare expenditure in developing economies
Rise in patient as well as physician awareness and inclination towards medical technology and cloud-based software programs are expected to encourage substantial growth in the region
The key players are engaged in launching novel products or algorithms in order to enhance market penetration.

Pharmaceutical Grade Lactose Market Worth $254.8 Million By 2025

The global pharmaceutical grade lactose market size is expected to reach USD 254.8 million by 2025 at a 4.6% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Rising inclination toward preventive healthcare across the globe is estimated to boost product use over the forecast period.

Increasing investments by local and foreign players in the pharmaceutical manufacturing sector, especially in developing economies such as India and Brazil, is expected to have a positive influence on industry growth. Furthermore, increased access to medication through generic drug production and development of innovative treatments for chronic diseases has resulted in the growth of the drug manufacturing industry, thereby propelling product demand.

Raw material prices and operational and transportation costs are key factors that define final product price. Intense competition in the industry is expected to put pressure on prices, resulting in a decline in product price. In addition, higher product prices have lowered buyers’ interest, owing to availability of substitutes, which is also expected to hamper growth.

Stringent government regulations associated with the use of pharmaceutical grade lactose are expected present a barrier to entry of new players in the market. In addition, high initial cost and operation cost associated with production machinery is expected to further discourage new entrants, thereby lowering their threat.

The industry is characterized by presence of major industry players focussing on research and development activities in order to reduce overall manufacturing cost by using innovative techniques. Participants have been adopting competitive strategies such as setting up new manufacturing facilities to magnify their regional presence.

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Further key findings from the report suggest:

Europe dominated the industry in 2017 in terms of product consumption and was valued at USD 74.7 million owing to increasing product adoption and well-established pharmaceutical industry
Asia Pacific accounted for 33.4% of the total revenue in 2017, owing to government initiatives to provide affordable prescription drugs and highest number of FDA-approved pharmaceutical lactose products in the region
The industry is characterized by increasing integration across the value chain, with participants looking to expand their footprint and strengthen their position in both manufacturing and distribution

Loader Market Size Worth $20.24 Billion By 2027

The global loader market size is expected to reach USD 20.24 billion by 2027, expanding at a CAGR of 3.4% from 2020 to 2027, according to a new report by Grand View Research, Inc. The substantial growth owing to increased government spending on projects to develop public infrastructure would increase the demand for earthmoving equipment, including loaders. Moreover, increasing demand for construction equipment rental, especially in developed regions, such as North America and Europe, would further increase the demand.

The loader is one of the essential equipment predominantly used at any construction site. These equipment are used for conducting a number of construction activities, including demolition, renovation, building loads, and material handling. Development of technology and integration of advanced features, including advanced telematics, GPS, cellular network technology, and Bluetooth connectivity, have contributed to market growth. The operators are gradually getting accustomed to new and advanced machinery as it enables ease on the worksites and can complete major tasks within lesser time.

Demand for all-electric and hybrid variants of loaders are significantly increasing in regions, such as Europe. The companies are providing hybrid options of wheeled loaders, but at a higher price as the development cost is higher as compared to the conventional model. For instance, Volvo Construction Equipment is developing the L25 variant of the loader and would start production in mid-2020. The new electric loader would deliver reduced energy costs, zero exhaust emissions, improved efficiency, fewer maintenance requirements, and significantly lower noise levels compared to their conventional counterparts.

The global slowdown and standstill global economy have affected the overall construction and manufacturing sector owing to the outbreak of the COVID 19 pandemic. The ripple effects on the deceleration can be witnessed on the global construction equipment, including loaders. The government authorities in many countries are imposing lockdown, which is hampering the production of construction equipment and placing many construction and infrastructure projects on hold. The Committee for European Construction Equipment (CECE), in its recent survey, highlighted a 10% to 30% decrease in sales of construction equipment as an effect of the COVID 19 crisis. However, gauging the exact negative impact of the pandemic situation at this stage looks challenging, given the various countries still struggling to lift the imposed lockdown.

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https://www.grandviewresearch.com/industry-analysis/loader-market

Further key findings from the study suggest:

By product type, the backhoe segment is anticipated to expand at the highest CAGR of 4.6% from 2020 to 2027 as it is suitable for performing operations on small, medium, and large-scale construction sites
Asia Pacific is expected to expand at the highest CAGR over the forecast period owing to rising infrastructural developments and construction activities in emerging countries, such as India and China
Key players operating in the market are focused on enhancing their product offering to maintain their lead in the market.

Retail E-Commerce Market Worth $8.6 Trillion By 2027

The global retail e-commerce market size is expected to reach USD 8.6trillion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 9.4% over the forecast period. The availability of the product online at low price as compared to physical stores owing to direct sale from the manufacturer without the intervention of any third-party seller is anticipated to fuel the growth. Moreover, discounts and bundling offer to propel product sales and attract huge consumers group towards online shopping has increase the popularity of retail e-commerce. The other factor expected to drive the online purchase is cash-on-delivery facility provided by the online retailers.

Online retail has made viewers more aware of the product as customers can see product specifications and compare them with other alternatives. The rising smartphone usage has fostered the global retail e-commerce industry growth in recent years. Companies in the retail e-commerce space have been affected by the outbreak of the COVID-19 pandemic in 2020 across the world. As many countries introduced lockdown and closure of brick and mortar stores, consumers rushed to online delivery to avoid moving out of their houses. This trend led to a surge in the sales of grocery products while other luxury segments only witnessed high traffic and low purchase.

The Indiaretail e-commerce industry witnessed the sale and purchase of only essential products which affected the growth of apparel and accessories, footwear, and electronics segment sales. Additionally, U.S. has no restriction on the online sale of any category of product, still, fashion, footwear, and others,the industry witnessed a sluggish growth owing to consumer perception of spending only on essential goods. Although, countries are taking the necessary measure to revive the economy and improve the financial condition of the citizen, the uncertain time of impact is expected to slow down the overall market growth. The companies are anticipated to experience positive growth 2021 onwards. Additionally, the C2C market would suffer a loss due to lack of assurance regarding the hygiene of product sold by individuals.

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https://www.grandviewresearch.com/industry-analysis/retail-e-commerce-market

Further key findings from the report suggest:

Retail e-commerce is estimated to account expand at an astounding CAGR of 9.4% over the forecast period. The higher demand for home appliance and clothing among urban population is positively impacting the market growth
The groceries segment is anticipated to witness the highest CAGR of 13.1% over the forecast period. The demand for purchasing groceries online is fueled by the ease of receiving daily stock at the doorstep which is time saving for working individual, couple or family
Asia Pacific is expected to dominate in the market during the forecast period owing to its huge population and their indulgence in shopping online for fashion, household, electronics, and furniture at comparatively affordable price
The major market players in the retail e-commerce market owingto their capability to provide range of products under one roof and reachinlarge and small cities across the world

Non-volatile Dual In-line Memory Module Market Worth $11.2 Billion By 2027

The global non-volatile dual in-line memory module market size is estimated to reach USD 11.2 billion by 2027, registering a CAGR of 39.7% from 2020 to 2027, according to a new study by Grand View Research, Inc. The significantly growing number of data centers across the globe is the key driving factor. NVDIMM is a persistence memory module. The demand for non-volatile dual in-line memory module (NVDIMM) in enterprise storage application to prevent data from losses in a service outage is anticipated to bode well for the market growth. Additionally, high demand to reduce latency in storage and servers for data processing is further expected to propel the market growth.

To sustain the highly competitive environment and to minimize the overall infrastructure costs, several businesses across the globe are migrating their operations over the cloud. This has increased the installation of data centers globally in order to suffice the need for storage of these companies’ data. In addition, NVDIMM plays an essential role in preserving these crucial data in the event of system or power failure in data centers. Therefore, the surging demand for cloud-computing across enterprises is anticipated to see a remarkable need for non-volatile dual In-line memory module over the forecast period.

Moreover, with the emergence of 5G technology, key network providers such as Huawei Technologies Co., Ltd., Ericsson, and Nokia Corporation, in partnership with telecom operators, are rapidly deploying 5G network infrastructures globally. Also, the deployment of high-speed 5G network has boosted the demand for edge computing solutions. This factor is anticipated to drive the demand for small data centers nearby customer premises. Thus, it is estimated to fuel the market growth from 2020 to 2027.

The rising need for high-performance computing with more extensive data storing capacity memory across several enterprises has stimulated the adoption of high-end workstations across the globe. Also, to increase the performance of high-end workstations by improving their latency and protect data from unexpected power loss, the demand for non-volatile dual in-line memory module is expected to showcase a remarkable growth.

The significant focus by key market players such as Intel Corporation and Netlist, Inc. on developing advanced memory modules, i.e., NVDIMM-P, is further anticipated to fuel the overall market growth. Currently, the ongoing pandemic of COVID-19 is majorly impacting the production and exports of NVDIMM products across the globe. Additionally, the escalating trade tension between China and U.S. is anticipated to impact the overall market growth from 2020 to 2027.

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https://www.grandviewresearch.com/industry-analysis/non-volatile-dual-in-line-memory-module-market

Further key findings from the report suggest:

The NVDIMM-N segment accounted for the largest market size of USD 661.9 million in 2019, attributed to the increasing requirement of delivering enhanced processing speed with lower latency to prevent data during a power outage.
North America attained the highest market share of 37.6% in 2019, attributed to the presence of a massive number of large hyper-scale data centers and key market players such as Micron Technology Inc.; AgigA Tech, Inc.; and Viking Technology Inc.
Growing demand for NVDIMM to increase the server’s performance and to eliminate the data losses during an electricity outage helped the enterprise storage and server segment to attain a significant market share in 2019
Key players such as Micron Technology Inc.; Viking Technology Inc.; and Smart Modular Technologies, Inc. are focused on developing new products with high capacity memory. This strategy helps these players to expand their overall product portfolios and increase their customer base

Network Transformation Market Size Worth $203.37 Billion By 2027

The global network transformation market size is expected to reach USD 203.37 billion by 2027, registering a CAGR of 41.7% from 2020 to 2027, according to a new report by Grand View Research, Inc. The growth can be attributed to its potential to transform service providers’ networks by offering cloud-based innovation and agility. The telecommunication networks are usually multilayered, complex, and have variety of users that need high network performance and availability. As compared to traditional data centers, a more rigorous set of requirements will be met with the use of network transformation solutions and hence the market is expected to witness tremendous growth.

Network transformation solutions provide ease in functioning to a communication network. These solutions facilitate a telecom operator to lessen the network complexity and lower down the total management cost. The key reason for the adoption of these solutions is that it offers faster service enablement, improved programmability, and lowers down the overall Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) for the service providers. The solutions such as Software Defined Networking (SDN) and Network Functions Virtualization (NFV) offer a complete digital network that is vital to increase customer satisfaction level.

Network transformation solution improves the security compliances of the network by systematizing security compliance. It automates the management, testing, configuration, deployment, and operations of virtual and physical devices within the network. The solution also aids in reducing the network operation cost by mechanizing time-consuming configuration tasks and manual compliance. Furthermore, the market adoption is driven by the rapid growth of network infrastructure essential to support the exponential growth of network traffic generated by data, video, social media, and application usage.

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https://www.grandviewresearch.com/industry-analysis/network-transformation-market

Further key findings from the study suggest:

The 5G networks solution segment is anticipated to expand at a CAGR of over 44% during the forecast period. The advantages such as aggregation and multi-connectivity solutions are the key factors contributing for the development of 5G networks
The managed services segment is anticipated gain momentum as these services helps companies of all sizesin reducing the overhead costs and boost productivity
The large enterprises segment is anticipated to witness high phenomenal growth during the forecast period. The large enterprises have huge capital for investing in full scale deployment of network transformation solutions
The energy and utility segment is expected to expand at the highest CAGR from 2020 to 2027, attributed to the increasing focus of the countries towards the development of smart utilities owing to the smart city initiatives
The market demand in Asia Pacific is anticipated to expand at a significant CAGR and reach USD 54.9 billion by 2027,owing to the rapid development of the IT infrastructure and the adoption of new technologies

Healthcare Reimbursement Market Size Worth $20.46 Trillion By 2026

The global healthcare reimbursement market size is expected to reach USD 20.45 trillion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 19.0% during the forecast period. Supportive government initiatives along with rising cost of prescription medicines are likely to work in favor of the market.

Hospital, Human Heart, Medical Exam, Pharmacy, Currency

The U.S. Affordable Care Act focuses on controlling and minimizing costs of healthcare. The law supports innovative methods to deliver medical care to reduce healthcare costs and makes affordable health insurance available to more people. Since the Obamacare came into effect in 2014, the number of uninsured children under the age of 18 in the U.S. reduced to 5.0% in 2015 as compared to 9% in 2008.

In addition, the Centre for Medicare & Medicaid Services is working towards delivery of reliable high-quality care, endorsement of efficient results in healthcare system, and making health insurance affordable for millions of Americans who are seeking and getting coverage. The Medicaid spending in the U.S. grew by 3.9% in 2016 or 17.0% of the total National Health Expenditure. And Medicare spending grew by 3.6% in 2016 or 20.0% of the total National Health Expenditure.

The underpaid segment is anticipated to dominate the market through 2026 owing to growing cases of frauds against government healthcare programs and increasing use of healthcare services that are not medically required. There have been several cases where businesses and individuals have defrauded federal and state government healthcare programs by submitting false claims for healthcare services, treatment, pharmaceutical, and medical devices that were never rendered.

Also, the rivalry among healthcare providers and rising pressure from commercial and public payers to reduce costs as well as to improve care are shifting their focus towards value-based care models from volume-based healthcare models.

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https://www.grandviewresearch.com/industry-analysis/healthcare-reimbursement-market

Further Key Findings From the Study Suggest:

Underpaid emerged as the largest segment in 2017 owing to increasing number of insurance plans that do not cover full reimbursement
On the basis of payers, private players accounted for the leading share in the market in 2017 owing to presence of a large number of private players
North America dominated the market in 2017. A raft of insurance players and strong reimbursement framework are facilitating the dominance of the region
The market in Asia Pacific is projected to witness rapid growth during the forecast period owing to rising penetration of insurance services in rural and urban areas
Some of the market players are UnitedHealth Group, Allianz, Aviva, Aetna, Nippon Life Insurance, CVS Health, WellCare Health Plans, BNP Paribas, The Blue Cross Blue Shield Association, and AgileHealthInsurance.

Bowel Management System Market Size Worth $2.25 Billion By 2025

The global bowel management system market is expected to reach USD 2.25 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.3% during the forecast period. Rising incidence of fecal incontinence coupled with growing government initiatives to raise awareness about bowel management is likely to drive the market. Furthermore, a favorable reimbursement scenario has also been favoring the growth of the market.

Bowel management systems are an important tool to manage fecal incontinence. According to the International Foundation for Gastrointestinal Disorders, fecal incontinence affects 6.9% of adult females and 7.4% of adult males. It has also been estimated that around 20.0% of people with irritable bowel syndrome have bowel incontinence.

In addition, different organizations such as United Ostomy Associations of America, Inc., and Colostomy U.K. are working towards raising awareness about ostomy. They are focused on empowering and supporting people who have had an ostomy. Also, government bodies globally are introducing programs to provide support to individuals with a stoma by improving access to clinically appropriate and most suitable stoma-related products. These are some of the factors that are promoting the growth of the market.

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https://www.grandviewresearch.com/industry-analysis/bowel-management-systems-market

Further key findings from the report suggest:

Colostomy bags were the largest segment in 2017 and are likely to witness the fastest growth over the forecast period due to factors such as their high usage rate and well-structured reimbursement policies across developed regions
The adult segment dominated the market in terms of revenue in 2017 owing to factors such as the high prevalence of fecal incontinence among adults
The home care segment was the leading segment in the market in 2017, owing to the rising adoption of bowel management products in homecare settings. The segment is also poised to witness the highest CAGR during the forecast period
North America and Europe accounted for a sizeable cumulative share in the market in 2017. These regions experience high usage rate of bowel management systems and are marked by the presence of significant key players such as 3M and Medtronic
Asia Pacific is expected to exhibit the fastest growth during the forecast period due to unmet clinical needs and need for better diagnosis
Some of the prominent players operating in this space are Mederi Therapeutics Inc.; Aquaflush Medical Limited; Medtronic; Coloplast; C.R. Bard; 3M; Consure Medical; B. Braun; Cogentix Medical; ConvaTec; Axonics Modulation Technologies; Welland Medical Limited; MBH-International A/S; and Wellspect HealthCare
Key players are adopting strategies such as expanding their geographic reach, increasing R&D activities, rising number of collaborations, growing awareness programs, technological advancements, and launching new products to increase their market share.