Personalized Medicine Market Size Worth $3.18 Trillion By 2025

The global personalized medicine (PM) market size is expected to reach USD 3.18 trillion by 2025 registering a CAGR of 10.6% over the forecast period, according to a new report by Grand View Research, Inc. Growing number of approved companion diagnostics and biomarker products have been proved promising avenues for the development of advanced precision diagnostic tests. Several personalized diagnostics and therapeutic products based on companion diagnostics are under clinical trials and development pipelines, which also add an incremental opportunity to accelerate this market.

Gene therapies are widely utilized to diagnose both chronic and genetic disorders according to individual’s genetic makeup. Growing adoption of gene sequencing and data analytics technologies is anticipated to escalate precision medicine market growth. Decreasing cost of whole genome sequencing, advancement in cell biology sector, and the development of “Human Genome Project” are several other factors influencing the demand for gene therapy hence, boosting the overall market. Moreover, key leaders are undergoing numerous strategic developments to launch novel personalized products, which will also contribute to the market expansion.

For instance, in September 2018, Vertex Pharmaceuticals collaborated with Genomics for the delivery of precision medicine based on individual’s genetic differences and lifestyle. Similarly, in January 2018, Foundation Medicine collaborated with European Organization for Research and Treatment of Cancer (EORTC) to facilitate Foundation’s comprehensive genomic profiling to across personalized medicine and clinical trial enrolment.

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https://www.grandviewresearch.com/industry-analysis/personalized-medicine-market

Further key findings from the study suggest:

PM therapeutics is projected to register the fastest CAGR over the forecast period owing to the development of high-capacity rapid sequencing platforms for medical therapies
Reduction in sequencing cost leads to an expected growth of genomic sequencing and genetic research, thus contributing to lucrative opportunities for genomic medicine
Asia Pacific is projected to be the fastest-growing regional market due to rising number of collaborative initiatives between eastern and western market leaders
Chinese personalized medicine market is benefitted due to initiatives implemented by the Chinese government and reimbursements for disease treatment
Prominent companies include GE Healthcare; Illumina, Inc.; Asuragen, Inc.; Abbott Laboratories; Dako A/S; Exact Science Corp.; and Biogen, Inc.

Jojoba Oil Derivatives Market Size Worth $49.05 Million By 2027

The global jojoba oil derivatives market size is anticipated to reach USD 49.05 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.1% from 2020 to 2027. Jojoba oil derivatives are extensively used in personal care and cosmetic products, pharmaceutical preparations, and as additives in lubricants. High demand is observed from the manufacturers of skincare and hair care products that use these derivatives as specialty ingredients for developing advanced cosmetic solutions. These products are placed under the premium products category owing to the higher price of chemicals used, but they also give visible results in formulations. Furthermore, consumer inclination and readiness to pay a high price for premium products, along with the growing preference for natural and organic products, have augmented the product demand in the personal care and cosmetics industry.

Jojoba oil derivatives have a respectable history of safe and long-term use in the personal care and cosmetics, food and beverages, and pharmaceutical sectors owing to their low toxicity profiles. However, these derivatives are facing a high threat of substitutes from both natural and synthetic ingredients, which possess similar structure, properties, and scope of application. Candelilla wax, beeswax, carnauba wax, and vegetable oils are observed to be natural substitutes. On the other hand, petroleum-based waxes, including paraffin, are also a major alternative to these derivatives. Apart from the external substitutes, synthetic wax can act as an internal substitute for natural wax.

Industry participants are trying to expand their operations to tap the existing opportunities in emerging regions or countries in order to acquire a greater market share and gain a competitive edge. Companies are strengthening their product portfolios to expand their consumer base by focusing on product innovation and improving and modifying currently listed products. The growing popularity of these derivatives has also fostered research & development activities and given rise to several startups globally. Several new players have emerged in the market owing to the growing popularity of the product among cosmetics manufacturers.

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https://www.grandviewresearch.com/industry-analysis/jojoba-oil-and-derivatives-market

Further key findings from the report suggest:

In 2019, esters emerged as the dominant product segment in terms of both volume and revenue. This is attributed to their odorless, colorless, and extremely resistant to oxidative degradation properties, making them suitable for a broad range of applications
The personal care and cosmetics application segment held the largest share in terms of both volume and revenue in 2019 due to high demand for derivatives in skincare, hair care, and baby care products, along with color cosmetic products
In 2019, North America emerged as the dominant regional market in terms of both volume and revenue owing to the growing inclination of manufacturers toward the application of bio-based ingredients.

Lactase Market Size Worth $276.4 Million By 2027

The global lactase market size is projected to reach USD 276.4 million by 2027 registering a CAGR of 5.1%, according to a new report by Grand View Research, Inc. Increasing awareness among individuals regarding health and wellness has led to a rise in consumption of enzyme-based foods, such as milk powder, butter, infant milk formula, and sour cream; which not only adds useful nutrients to the diet but also improves digestion. The ability of the lactase enzymes to maintain freshness and increase the shelf-life of dairy products is projected to further augment the market growth.

Lactose-free milk is obtained by adding lactase enzyme to regular milk. Similar to regular milk, lactose-free dairy products are a good source of calcium, protein, phosphorus, riboflavin, and vitamin B12 & D. The demand for lactase in dairy applications is likely to witness a steady growth over the forecast period on account of the convenience of lactose-free milk to be swapped in for regular milk in various food preparations.

Lactase is predominantly consumed in the powdered form. The product is majorly used to convert low-solubility and light sweetness lactose to more soluble and sweeter monosaccharides in the food & beverage industry, especially in the dairy industry. This factor, together with the ability of the product to reduce the crystallization of lactose in concentrated milk, ice cream, and condensed milk, is projected to further drive the product demand.

According to the research by the National Institutes of Health (NIH), over 65% of the global human population is prone to lactose intolerance and over 5% of the population in the U.K., Belgium, Sweden, and the Netherlands suffer from lactose maldigestion. Thus, the product demand in Europe is projected to witness high growth over the forecast period.

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

Further key findings from the study suggest:

In terms of revenue, the yeast segment accounted for the largest market share of over 44% in 2019 and will expand further at a steady CAGR from 2020 to 2027 due to the high demand for yeast-based lactase in dairy processing and dietary supplements industries
Food & beverages was the largest application segment in 2019 owing to extensive product usage in milk, condensed milk, ice-cream, cheese, milk powder, and yogurt
North America is anticipated to exhibit steady growth over the coming years on account of rising cases of lactose-intolerance in the region
In addition, factors, such as nutritional benefits and easy digestibility, have resulted in the growing adoption of lactose-free products in North America
Key companies are adopting various strategies, such as clinical trials, new product launches, M&A, and R&D investments to increase their market share
However, the lack of technical expertise and high processing cost of lactase extraction is projected to inhibit the industry growth
In May 2019, Chr. Hansen Holding A/S launched LACTOSENS R, a lactose biosensor test kit to document lactose concentrations across all dairy applications

Cannabis Pharmaceuticals Market Size Worth $5.8 Billion By 2027

The global cannabis pharmaceuticals market size is projected to reach USD 5.8 billion by 2027, expanding at a CAGR of 76.8% over the forecast period, according to a new report by Grand View Research, Inc. Rise in the number of clinical trials for these drugs due to its therapeutic properties, growing awareness of the medical benefits of plant-derived cannabidiol products are some of the factors driving the demand over the forecast period. However, the presence of stringent regulations on cannabidiol-infused products in various countries is restricting demand for these products.

In 2019, Sativex is the leading brand in the global market with a revenue share of 83.0%. The surge in clinical trials for numerous medical conditions and the growing number of countries legalizing cannabis for medical purposes are the major factors responsible for its large share. On the other hand, Epidiolex is anticipated to be the fastest-growing brand over the forecast period. Growing research for plant-based cannabinoids for other rare conditions is expected to drive the growth of this segment over the forecast period.

The European region is expected to dominate the market in 2019, owing to growing medical marijuana users in the region coupled with the rising awareness about cannabidiol infused products. On the other hand, the Asia Pacific region is expected to grow at the fastest rate over the forecast period owing to growing legalization and favorable guidelines towards the use of cannabidiol infused pharma products in the region.

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https://www.grandviewresearch.com/industry-analysis/cannabis-pharmaceuticals-market

Further key findings from the report suggest:

In 2019, Sativex is estimated to dominate the market with a revenue share of 83.0%, due to the growing number of countries legalization of plant-derived pharma products for medical purpose
In terms of revenue, U.S. was the largest country level market. U.S.FDA’s approval of Epidiolox and high adoption of this drug are few factors for the country’s large share.
Some of the major players operating in this cannabis pharmaceuticals market are GW Pharmaceuticals, AbbVie Inc., Valeant Pharmaceuticals, and Insys Therapeutics, Inc.

Women Health & Beauty Supplements Market Worth $68.96 Billion By 2026

The global women health and beauty supplements market size is expected to reach USD 68.96 billion by 2026, expanding at a CAGR of 4.75% over the forecast period, according to a new report by Grand View Research, Inc. Increasing intake of unhealthy, junk food along with prevalence of hormonal imbalances is resulting in increased demand for vitamin and supplements. Furthermore, growing global focus on active lifestyle and fitness is positively influencing the growth.

Vitamins. Healthy Diet, Eating, Lifestyle. Happy Smiling Woman Taking Pill With Cod Liver Oil Omega-3 And Holding A Glass Of Fresh Water. Healthcare And Beauty. Vitamin D, E, A Fish Oil Capsules. Nutrition.

Rising disposable income, awareness regarding the benefits of dietary supplements, and branding aimed at targeting younger and middle-aged population is expected to significantly boost market growth. Additionally, growing focus on preventive health as a consequence of various initiatives to increase awareness about liver heath taken by public and private organizations to promote awareness regarding health will significantly boost the growth. For instance, in March 2019, a Kiss and Click campaign is launched by Amsety and Fatty Liver Foundation to increase awareness regarding liver health. The British Liver Trust is also launching various campaigns to increase awareness regarding different types of liver diseases and promoting early diagnosis.

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https://www.grandviewresearch.com/industry-analysis/women-health-beauty-supplements-market

Further key findings from the study suggest:

In 2019, Asia Pacific was the largest regional market with a revenue share of nearly 39%, attributed to presence of a large target population base, availability of target products, and high awareness regarding active lifestyle
By product, vitamins supplements segment held the largest revenue share in 2019. It is difficult for pregnant and breastfeeding women to get enough vitamin A, and thus specialists recommend vitamin A supplements usually in the form of retinyl acetate, beta-carotene, or a combination of preformed provitamin A
Age 31 to 50 segment held the largest revenue share in 2019, as women in this age group are the largest consumer pool for multivitamin or mineral beauty supplements. A large portion of this population is highly influenced by social media. Thus, companies are focused on using social media platforms to promote beauty supplements as youthful and brightly packed products
By sales channel, direct sales channel held the largest revenue share in 2019. Key factor attributed to the dominance is the presence of large players offering significant discounts and flexible payment plans

Enteral Feeding Formulas Market Size Worth $8.72 Billion By 2027

The global enteral feeding formulas market size is expected to reach USD 8.72 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% from 2020 to 2027. Increasing prevalence of diseases such as diabetes, cancer, dementia, multiple sclerosis, chronic liver disease and COPD is expected to boost the demand for enteral products that aid patients having trouble in oral intake. As per a study published by Cancer Research U.K., approximately 17.0 million new cancer cases were reported in 2018 across the globe. Incidence of cancer is projected to increase by 62% between 2018 and 2040.

In addition, growing deficiency of macro and micro nutrients among the patients in hospitals during pre and post-surgery drives the demand for enteral feeding formulas. Furthermore, increasing product offerings aimed at specific indications are delivering targeted nutritional needs, which is a key driver of this market. These enteral tube feeds usually contain polysaccharides and proteins for patients capable of digesting and absorbing nutrients without any difficulty. Availability of wide varieties of enteral formulas, along with increased demand for low-cost nutrient formulations among consumers, is boosting the market growth. Moreover, favorable reimbursement scenario supports high adoption of tube feeds among hospital patients as the enteral nutrition is usually covered under Medicare claims.

Moreover, the market is consolidated with presence of few leading players, including Nestle Health Science, Abbott, and Danone. These players are constantly investing in the R&D activities for development of enhanced products that cater to the niche therapeutic areas having high growth potential in the industry in order to gain a competitive edge. Market entry has proved to be challenging for new entrants as the industry is dominated by few major MNCs with high brand recognitions.

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https://www.grandviewresearch.com/industry-analysis/enteral-feeding-formulas-market

Further key findings from the report suggest:

Standard formula emerged as the leading product segment in 2019 with a revenue share of 54.3% in the global market
By flow type, intermittent feeding flow accounted for the largest revenue share in 2019. Continuous feeding flow is projected to expand at the fastest CAGR during the forecast period
The adults stage segment accounted for the largest revenue share in 2019 owing to growing demand for such nutrition formulations in the adult population
Others emerged as the leading indication segment in 2019 with a revenue share of 41.9% in the global market
Home care emerged as the leading end user segment in 2019 and is expected to witness significant growth over the forecast period
North America accounted for the largest share in 2019 due to growing preference for home-based enteral therapy in the region.

Europe Industrial Air Filtration Market Size Worth $4.61 Billion By 2027

The Europe industrial air filtration market size is expected to reach USD 4.61 billion by 2027, expanding at a CAGR of 6.5% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Stringent government regulations, intense competition among key players, technological advancements, and the development of cost-effective filtration solutions is expected to positively impact the growth. Furthermore, factors such as increased investments in industrial applications, stricter environmental constraints along with environment awareness are also anticipated to fuel the market growth.

The market is expected to witness significant growth on account of stringent government regulations in the European Union (EU). The market for industrial air filtration in Europe is expected to be primarily driven by the enforcement of occupational health and safety regulations. Favorable government regulations create and drive the demand for products that help limit emissions. The Directive on Integrated Pollution Prevention and Control (IPPC) along with several sectoral directives on large combustions plants set emission limit values (ELVs) designed to deliver reductions in anthropogenic emissions to air from industrial sources. Furthermore, the formulation of EN 779:2011, a European standard for particulate air filters is also expected to fuel the demand over the forecast period. The new standard will help eliminate several issues related to synthetic filters and filter performance.

Financial drivers may also play a key role in incentivizing end users to enhance manufacturing performance and reduce costs. The key requirement of the IPPC Directive is the application of Best Available Techniques (BAT). The main objective of this policy is to stimulate the diffusion of several advanced environmental technologies across diverse industries. This objective is achieved through the BREF process that defines techniques as being BAT and at the same time outlines BAT emission levels for use across the EU.

Surging demand for products that deliver high-performance and improved efficiency, while at the same time reduce energy consumption, is also expected to favorably impact the regional growth over the forecast period. High efficiency is a key requirement for any industrial air filtration system. Additionally, filter media performance is also crucial in any industrial air filtration system, and therefore, manufacturers emphasize on developing more efficient solutions without compromising on other filtration requirements.

The emergence of new raw materials including, small fibers coupled with advancements in the non-woven technology is expected to offer avenues for the market growth over the forecast period. Owing to this, manufacturers are taking R&D initiatives to innovate in the field of nanotechnology and small fibers. However, high cost of materials is expected to hinder the market growth.

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https://www.grandviewresearch.com/industry-analysis/europe-industrial-air-filtration-market

Further key findings from the report suggest:

HEPA filters are projected to expand at a CAGR of over 7.2% over the forecast period. This upsurge is attributed to its technical benefits such as greater machine availability and reliability, maintenance of high initial power output, improved efficiency, increased component life, zero production downtime, and lower emissions
Oil mist collectors are also expected to exhibit significant penetration and growth over the next few years. This can be attributed to increasing applications across the food and beverage and metal processing industry. Their ability to eliminate any air-borne contaminants and improving the food quality as well as safety is also expected to power the segment growth
Food end-use segment is expected to expand at a CAGR of over 8% from 202 to 2027. Stringent sanitary regulations, cross contamination, and/or food handling regulations, are some of the factors expected to favourably impact the growth

Pediatric Vaccines Market Worth $60.4 Billion By 2025

The global pediatric vaccines market is expected to reach USD 60.4 billion by 2025 at an 11.7% CAGR, according to a new report by Grand View Research, Inc. Advancements in development of vaccines and new product launches are some of the major drivers of the market.

Increase in investments by companies to capture a larger market share is anticipated to propel growth. Some of the factors attributed to increase in investment are high growth prospects in the emerging market, immunization schedule mandated by doctors for children, and awareness programs led by UNICEF, WHO, and other healthcare organizations. Furthermore, increase in number of government initiatives for raising awareness about immunization is expected to boost the market for pediatric vaccines.

Advancements in development of novel adjuvants and therapeutic vaccines are expected to drive growth during the forecast period. Ongoing research in novel molecules targeted at specific mechanisms of action in the body is aimed at providing immunity against fatal diseases such as cancer and Zika virus disease. For instance, in June 2016, Inovio Pharmaceuticals, Inc. announced the initiation of phase I clinical trial for their Zika DNA vaccine named GLS-5700.

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https://www.grandviewresearch.com/industry-analysis/pediatric-vaccine-market

Further key findings from the report suggest:

The global pediatric vaccines market was estimated at USD 22.4 billion in 2016 and is expected to grow with a CAGR of 11.7% from 2017 to 2025
By type, monovalent emerged as the largest segment due to factors such as high usage and increase in initiatives for R&D activities supported by various governments
Conjugate vaccines formed the dominant technology segment in terms of revenue in 2016. Higher adoption of these vaccines and increase in prevalence of infectious diseases contribute to its lead in the market for pediatric vaccines
By application, the cancer segment is expected to witness the fastest growth with a CAGR of 12.6% owing to increasing prevalence of cancer and rising need for immunization against the disease
North America held the largest revenue share in 2016. Its dominance in the market for pediatric vaccines is owing to factors such as local presence of major players in the industry and extensive R&D activities
The Asia Pacific region is anticipated to witness lucrative growth over the next decade due to increase in prevalence of infectious diseases and a large target population
Key players such as GlaxoSmithKline plc; Pfizer, Inc.; SANOFI; and AstraZeneca dominated the global market for pediatric vaccines in 2016.

Australia Legal Cannabis Market Size Worth $1.9 Billion By 2026

The Australia legal cannabis market size is expected to reach USD 1.9 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 42.1% during the forecast period. Increasing government support for marijuana legalization, rising patient population, and the entry of international companies in the country are the key factors driving the market growth. An increase in the production of medical marijuana owing to its high demand in the pharmaceutical sector is anticipated to further drive the growth.

In 2019, the marijuana segment dominated the market for legal cannabis, with a revenue share of 71.3%. The segment is further classified into flower and oil. The flower segment dominated the market in 2019, owing to its high availability and adoption among consumers. On the other hand, the oil segment is projected to be the fastest-growing, due to rising consumer awareness about the negative effects of marijuana smoking. Moreover, the preference for marijuana oil is increasing among patients, as it is easy to ingest and more travel friendly.

Medical application dominated the market in 2019. A steep rise in the number of medical approvals for patients, on-going research on cannabis, and increased production are the key factors driving the market growth. Furthermore, its sub-application-chronic pain-dominated the market with market size of USD 55.2 million in 2019. Increasing demand for effective pain management therapeutics is the key factor driving the segment growth.

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https://www.grandviewresearch.com/industry-analysis/australia-legal-cannabis-market

Further key findings from the study suggest:

Marijuana product type dominated the market in 2019, with a revenue share of 71.3%, owing to its high adoption and availability
Chronic pain, under medical applications, dominated the market in 2019 with a value of USD 55.2 million, as the demand for cannabis is increasing in pain management
The market is dominated by many local and international players. Local players are focused on geographical expansion and creating awareness about the medical benefits of marijuana among patients and healthcare professionals for increasing their consumer base

Antifungal Drugs Market Size Worth $12.7 Billion By 2025

The global antifungal drugs market size is expected to reach USD 12.7 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 1.5% during the forecast period. Increasing incidence of fungal infections worldwide is the key factor stoking the growth of the market. In addition, rise in adoption of immunosuppressive and antineoplastic agents, prosthetic devices and grafts, and broad-spectrum antibiotics has resulted in increased incidence of fungal infections in recent years.

According to statistics published by the Centers of Disease Control and Prevention in 2017, it has been estimated that every year, nearly 220,000 new individuals are affected by cryptococcal meningitis, which is a brain infection and has resulted in 181,000 deaths per year around the world. Most of the deaths were reported in sub-Saharan Africa, due to high prevalence of HIV/AIDS. This indicates the potential demand for antifungal drugs due to high prevalence of mycological infections around the globe.

As aged people are more prone to infectious diseases and chronic conditions, including HIV and cancer, rise in geriatric population worldwide is likely to stir up the demand for antifungals to treat opportunistic fungal infections. The demand for fungistatic agents is estimated to remain strong through 2025 due to mounting cases of fungal infections that are difficult to diagnose, yielding high mortality and morbidity rates.

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https://www.grandviewresearch.com/industry-analysis/antifungal-drugs-market

Further key findings from the study suggest:

Several types of fungicidal preparations, such as creams, sprays, tablets, & injections, are available. Increasing adoption of these products is anticipated to drive the market during the forecast period
The echinocandins segment is anticipated to exhibit lucrative growth owing to their cell wall-specific fungicidal property coupled with their broad-spectrum activity against Aspergillus and Candida species without cross-resistance risks
The candidiasis indication segment is expected to witness the fastest CAGR over the forecast period due to increasing drug resistance of the Candida species to Azoles
North America held the largest market share in 2017. The growth of the market can be attributed to higher awareness levels pertaining to treatment of fungal infection and presence of a large target population
Asia pacific is projected to register the fastest growth during the forecast period due to improving healthcare facilities coupled with rising government initiatives to create awareness of infectious diseases among the population
Companies are focusing on development of effective therapeutic agents for treatment of systemic fungal infections in immune-compromised patients
Numerous ongoing public-private partnership agreements in the pharmaceutical industry for development of novel therapeutics is poised to provide the market with lucrative growth opportunities. For instance, Astellas Pharma partnered with Vical Incorporated for the development of VL-2397, an antifungal drug for the treatment of pulmonary aspergillus.