U.S. Digital Therapeutics Market Size Worth $5.47 Billion By 2027

The U.S. digital therapeutics market size is expected to reach USD 5.47 billion by 2027, registering a CAGR of 22.2% during the forecast period, according to a new report by Grand View Research, Inc. Technological advancement in healthcare IT, increasing demand for integrated healthcare system, and cost effective patient care are driving the market growth.

COVID-19 pandemic has expedited the adoption of Digital Therapeutics (DTx) especially pertinent to mental illness and chronic ailments like diabetes and Cardiovascular Diseases (CVD). The U.S. Food and Drug Administration (FDA) released new guidelines for computerized behavioral therapy and other DTx solutions during this public health emergency. The organization has waived off guidelines that include 510(k) premarket notifications, registration and listing requirements, and Unique Device Identification (UDI) requirements for DTx therapeutic devices with low risk. For instance, Pear therapeutics launched Pear-004 for psychosis and self-management training post the new guidelines. The product needs to be used under a doctor’s supervision.

The need for cost-effective healthcare is increasing due to rising healthcare expenditure. Digital health technology is being encouraged and preferred to avoid unnecessary costs and promote cheaper & alternative means of healthcare delivery, thus propelling the market. Moreover, rising demand for remote monitoring services due to increasing incidence of chronic diseases worldwide is one of the factors propelling market growth. Digital therapeutic applications allow patients to manage and treat diseases without constant medical intervention, thereby drastically reducing healthcare expenditure.

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https://www.grandviewresearch.com/industry-analysis/us-digital-therapeutics-market

Further key findings from the study suggest:

In terms of revenue, diabetes dominated the application segment in 2019. The growth can be attributed to increasing incidence of this diseases and demand for self-management and constant monitoring
On basis of end use, patients held the largest revenue share in 2019 owing to increased adoption of healthcare IT services through Artificial Intelligence (AI) driven smartphone apps
In the wake of COVID 19 pandemic, patients with chronic diseases are facing challenges in managing medications, visiting healthcare providers, and maintaining a balanced diet. DTx therapy can be useful in managing patient conditions remotely
Companies such as DarioHealth, WellDoc, and Kaia Health are providing guidance to diabetic patients for managing their glucose levels and maintaining a healthy lifestyle
In January 2020, Pear Therapeutics and Crossroads Treatment Centers entered into a partnership to incorporate reSET-O PDT in several opioid use disorder treatment centers located in Pennsylvania, thereby enhancing its market reach

In vivo CRO Market Size Worth $5.81 Billion By 2026

The global in vivo cro market is anticipated to reach USD 5.81 billion by 2026, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.5% during the forecast period. Increasing focus on core competencies by the pharmaceutical players coupled with economic efficiency offered for outsourcing is expected to boost the demand.

In Addition, the CROs are equipped with a competent workforce capable of performing a diverse number of tasks along with being well-versed through regulatory requirements. Also, the pressure from the increasing competition owing to rapid growth of generics, patent expirations, and introduction of biosimilar equivalents are encouraging pharmaceutical companies to take the aid of such organizations.

Increasing mergers and collaborations have propelled the value of pharmaceutical outsourcing with major industry contributors expanding into developing regions. The year 2015 experienced high valued transactions as a result of LabCorp acquiring Covance for USD 5.5 billion and the Chinese Private Equity Group acquiring WuXifor USD 3.3 billion. The patent cliff, high research and development cost involved, and globalization in the clinical trial process has driven the

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https://www.grandviewresearch.com/industry-analysis/in-vivo-cro-market

Further key findings from the report suggest:

Rodent based In vivo CRO led the market in 2018 and is anticipated to remain dominant throughout the forecast period. Mice is the most used animal for preclinical evaluation and accounted for almost 76% of the market share in 2018.
Based on indication, oncology held the largest market share in 2018, attributed to the increasing number of cancer cases and focus of pharmaceutical players on introducing novel drug treatments with fewer side-effects
North America led the global In vivo CRO market in 2018 owing to the presence of technologically advanced CROs
Asia Pacific is anticipated to register the fastest CAGR over the forecast period. Constantly improving healthcare infrastructure, huge patient base, presence of untapped opportunities, and economic development, are some factors responsible for the rapid growth
Some of the key market players include Pharmaceutical Product Development, LLC (PPD); IQVIA; American Preclinical Services, LLC.; Charles River Laboratories; Parexel International Corporation; ICON Plc; Covance Inc.; Theorem Clinical research; inVentiv Health; WuXi AppTec, Inc.; American Preclinical Services, LLC.; and Evotec (US), Inc. Partnership and mergers and acquisitions are the key strategic undertakings by these players

Auto-injectors Market Size Worth $3.2 Billion by 2026

The global auto-injectors market size is expected to reach USD 3.18 billion by 2026, according to a new report by Grand View Research, Inc, exhibiting a CAGR of 19.5%. Rising incidence of anaphylactic shock and other diseases such as diabetes, rheumatoid, & multiple sclerosis along with increasing approvals of auto-injectors are impelling growth.

Increasing prevalence of life-threatening allergies and rising demand for these devices are expected to aid growth. As per the Food Allergy Research & Education, around 200, 000 people every year need emergency medical care for allergic food reactions.

In addition, increasing approvals are anticipated to drive growth. For instance, in August 2018, U.S. FDA approved the first generic epinephrine auto-injector of Teva Pharmaceuticals to treat emergency allergic reactions, including anaphylaxis. Generic versions of EpiPen Jr & EpiPen of 0.15 mg & 0.3 mg, respectively, are indicated for pediatric and adult patients weighing more than 33 pounds.

Moreover, manufacturers are also developing new products and innovative technologies, which is expected to propel market growth. For instance, in June 2018, AbbVie GK launched Humira, which is a fully human antitumor necrosis factor alpha monoclonal antibody formulation with lock function & injection start & end alerts as well as an inspection window and injects completely in 10 seconds. Demand for these devices is increasing as they are designed in accordance with patient acceptance and compliance. Technological advancements are anticipated to make them more convenient and user-friendly. This is encouraging patients to adopt this technology for chronic illnesses.

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https://www.grandviewresearch.com/industry-analysis/auto-injectors-market

Further key findings from the study suggest:

Disposable auto-injectors emerged as the largest segment owing to convenience and ease of use
Homecare settings accounted for largest share in end-use segment owing to increasing demand of products for daily administration of insulin
North America dominated the auto-injectors market with largest share in 2018. Increasing demand for new technologies along with advanced healthcare infrastructure is expected to boost market growth during the forecast period
Asia Pacific is expected to witness fastest growth during the forecast period owing to increasing number of diabetic patients
Some of the key players are Eli Lilly; Scandinavian Health Ltd.; AbbVie, Inc.; Amgen; Owen Mumford; Ypsomed; Teva Pharmaceutical; Biogen Idec; Mylan N.V.; Pfizer, Inc.; and Sanofi

Sleep Apnea Diagnostic Devices Market Worth $502.9 Million By 2027

The global sleep apnea diagnostic devices market size is anticipated to reach USD 502.9 million by 2027, expanding at a CAGR of 7.0%, according to a new report by Grand View Research, Inc. Growing incidence of sleep-related disorders and rising prevalence of Obstructive Sleep Apnea (OSA) in health conditions such as Chronic Obstructive Pulmonary Disorder (COPD) is positively impacting the market growth. Furthermore, increasing prevalence of comorbidities associated with the condition such as hypertension, diabetes, obesity, and cardiovascular diseases is anticipated to bolster revenue growth over the forecast period.

Based on product type, the Polysomnography (PSG) segment dominated the market in 2019 with a revenue share of 60.0%. One of the major factors contributing to the increase in product demand includes the development of new devices rendering enhancement in performance. In addition, rising initiatives of insurance coverage for some tests for adults based upon the clinical evaluation of OSA is further propelling segment growth.

North America dominated the market with a revenue share of 45.2% in 2019 owing to the increasing incidence of the population suffering from OSA and other related disorders. Furthermore, technologically advanced healthcare facilities and better reimbursement facilities for such health conditions are boosting the growth in the region. For instance, Medicare and Medicaid provide coverage for certain diagnoses and treatment procedures related to OSA in the U.S. In addition, the rising prevalence of OSA associated chronic health conditions is further fueling the growth of the market.

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https://www.grandviewresearch.com/industry-analysis/sleep-apnea-diagnostic-and-therapeutic-devices-market

Further key findings from the study suggest:

The market size is anticipated to witness significant growth over the forecast period owing to the increasing incidence of OSA related disorders
The Polysomnography (PSG) segment dominated the market and accounted for a revenue share of 60.0% in 2019, owing to the development of innovative devices with enhanced performance
North America dominated the market with a revenue share of 45.2% in 2019, owing to the increasing prevalence of population suffering from OSA related disorders, availability of technologically advanced healthcare facilities, and better reimbursement facilities for such health conditions.

Europe Diabetes Devices Market Size Worth $8.7 Billion By 2026

The Europe diabetes devices market size is expected to reach 8.7 billion by 2026, according to a new report by Grand View research, Inc. registering a CAGR of 4.0% over the forecast period. The size of the market is justified by the contribution from developed European economies such as Germany, U.K., France, and Italy. The prevalence of diabetes is rising amongst all ages in the European countries, mainly due to the unhealthy lifestyle, obesity, overweight, and physical inactivity. According to the International Diabetes Federation (IDF), around 66.0 million people in Europe are suffering from diabetes and this number is expected to increase to around 81.0 million by 2045. Thus, rising diabetes population base in this region is anticipated to be a major driver for the Europe diabetes devices market.

Additionally, the region is expected to witness high growth rate during the forecast period due to the continuous efforts towards diabetes control by the government and healthcare organizations such as the IDF. These organizations provide required expertise and support diabetes awareness campaigns through a network of stakeholders and partners. Also, increasing health care funding in the region is anticipated to propel the market’s growth.

Moreover, rising geriatric population is also anticipated to propel the market growth over the forecast period. In 2018, nearly one fifth of the Europe’s population was over 65 years age which is further fueling the diabetes device market. According to the United Nation report on World Population Aging, older population in Europe is projected to constitute 35.0% of total population by 2050. Furthermore, leading manufacturers are focusing on technological innovations and advanced product development to gain remarkable share in the market.

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

Further key findings from the report suggest:

Germany held the largest market share owing to favorable reimbursement policies, local presence of key market players, and supportive government initiatives.
In the self-monitoring and diagnostic devices segment, digital glucose monitors held the largest market size of 1.2 billion in 2018 and is growing at a CAGR of over 4.6% during the forecast period.
Insulin pens held the largest market share in 2018 and the segment is projected to grow at a CAGR of 3.7% over the forecast period. The growth in this segment is attributed to ease of use and the ability to deliver accurate dosage.
Insulin pumps segment is expected to grow during the forecast period. The segment is primarily driven by its advantage such as need of fewer injections to deliver insulin.
Some of the prominent players include in Europe diabetes devices market are Eli Lilly and Company, Medtronic, Inc., Novo Nordisk A/S, Sanofi, Becton, Dickinson and Company, F. Hoffmann-La Roche, Ltd., B.Braun Melsungen AG, Ypsomed Holding AG, Abbott Laboratories and others.

Latin America In Vitro Diagnostics Market Size To Reach $5.1 Billion By 2024

The latin america IVD market is expected to reach over USD 5.1 billion by 2024, according to a new report by Grand View Research, Inc. The Latin America IVD market is expected to grow at a significant CAGR till 2024 owing to the rising prevalence of target disorders, aging population, and the presence of favorable government initiatives for early disease diagnosis. Other factors that are anticipated to boost the growth include the introduction of technologically advanced instruments and the increasing R&D initiatives for the development of disease-specific kits.

Regular testing for diabetes, cardiovascular, cancer, and sexually transmitted diseases are necessary for the timely treatments, further avoiding the risk of fatal health complications. The availability of tests for home and near patient testing is estimated to further enhance the usage rates of these devices. From November 2015, the Anvisa, which is a regulatory body for medical devices in Brazil, has started allowing the registration for HIV self-testing kits.

The increasing adoption point of care devices coupled with the increasing awareness among the healthcare professionals regarding the early diagnosis of various diseases has provided a boost to the Latin IVD market. The rising epidemic of communicable diseases in the southernpart of Latin America, the growing need for rapid and accurate diagnostics, and the changing healthcare infrastructure scenario are some of the key drivers of the Latin IVD market.

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http://www.grandviewresearch.com/industry-analysis/latin-america-in-vitro-diagnostics-ivd-market

Further key findings from the study suggest:

The instrument segment is one of the most important segments of in vitro diagnostics. The presence of highly automated analyzers and the availability of over the counter products are some of the factors responsible for its significant share.
The Molecular diagnostics segment is anticipated to be the fastest growing technology over the decade. Molecular diagnostics is a transformative area of diagnostics. The continuous innovation in technology helps the physicians for critical decision making
The infectious disease segment held the largest share in 2015 over 24% owing to the presence of favorable government initiatives in association with the WHO to curb communicable diseases.
The home care segment is estimated to witness a significant growth over the forecast period. The high number of R&D initiatives undertaken by key competitors for the development of portable IVD devices with improved sensitivity and user-friendliness is a key factor attributing towards its growth.
In 2015, Brazil was the largest regional segment with a revenue generation of over USD 1.2 billion owing to the established healthcare infrastructure, growing awareness for cancer screening, and the increasing demand for genetic testing.
Peru is expected to be one of the fastest growing regions on account of the growing economic stability, high unmet clinical needs, and the rising disposable incomes
Key players operating in the Latin America IVD market are Roche Diagnostics, Abbott Laboratories, Inc., Hologic (Gen-Probe), Becton Dickinson (BD) Company, Alere, Inc., Bio-Rad Laboratories, Qiagen N.V., Inc., bioMerieux, BioQuidel Corporation, and Siemens Healthcare.