The global Pet Insurance Market size is anticipated to reach USD 32.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 16.7% from 2022 to 2030. The key factors driving the market growth include the rising number of pets across the globe, high veterinary care costs, and the need to reduce financial risk. As per the Pet Food Manufacturers Association, about 59% of households had pets in the U.K. in 2021. Dogs were the most popular at about 33%, followed by cats at 27%. Other pets include rabbits, indoor birds, guinea pigs, tortoises and turtles, horses, and others.
The COVID-19 pandemic has impacted all industries, including the market. The surge in pet ownership during the pandemic, expenditure on pets, and increasing pet humanization further supported the adoption of pet insurance policies during 2020 and 2021. Concerns over rising veterinary care costs and fear of transmission of COVID-19 from pets to pet owners also increased the demand for reducing financial risks with a suitable pet insurance policy. Although OIE has confirmed that no animals can spread this virus. However, in the initial months of the pandemic, there was speculation that it may spread through birds. Overall, the pandemic positively impacted the market with increased awareness and adoption of insurance policies by pet parents. Rapidly growing consumer awareness, underpenetrated market, and product acceptance have benefited the market. According to Petplan, in the U.S., the average cost of an unexpected visit to the veterinarian was around USD 800-1,500 in 2018. This burden could be eased with an insurance plan in place. Moreover, untapped opportunities in developed and developing economies are anticipated to provide lucrative growth to this market in the coming years. Furthermore, advancements in pet insurance, such as vet direct pay by Trupanion, are revolutionizing medical insurance for cats and dogs by eliminating the reimbursement model. Similarly, pet insurance in Europe is growing rapidly due to strict pet insurance regulations in countries such as Sweden. In addition, strategic initiatives by market players are further expected to boost the market growth. For instance, in April 2020, Zoetis entered the pet insurance space by launching Pumpkin Insurance Services Inc.- a pet insurance agency across the U.S. The company offers competitive pet health insurance plans and preventive care plans to pet parents. In December 2019, MetLife, Inc. on the other hand, acquired PetFirst Healthcare, LLC - a companion animal health insurance administrator. This acquisition leveraged the company’s position as a leader in group benefits distribution channels in the U.S. by enabling MetLife to expand its offerings. Such initiatives are estimated to boost the market growth in the coming years. Insurance providers are also focused on increasing penetration by targeting the customer base of the sales channels. For instance, in February 2018, Healthy Paws collaborated with Roover.com to increase its market penetration. Related Press Release@ Pet Insurance Market Report Pet Insurance Market Report Highlights
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The global Huntington’s Disease Treatment Market size is expected to reach USD 1.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.6% from 2022 to 2030. This growth is due to high R&D investments for new product development, research collaboration, and the high HD burden in western countries. Huntington's disease is a rare inherited neurodegenerative disease that affects several generations. It affects people between the ages of 30 and 50, impairing their capacity to work, care for their families, and, eventually, complete daily tasks.
The prevalence varies by more than ten-fold between geographical locations, which can be related to variations in case ascertainment and diagnostic criteria. The prevalence varies by more than ten-fold between geographical locations, which can be related to variations in case ascertainment and diagnostic criteria. As a result, the prevalence of enlarged repetitions in the general population may be greater than expected. The Asian population has consistently had a lower prevalence, while Europe, North America, and Australia have a higher prevalence. The key players, such as Neurocrine Biosciences, Inc. and Azevan Pharmaceuticals, Inc., are focusing on research and development of symptomatic therapies for HD. Azevan Pharmaceuticals is developing SRX246 as an experimental drug to treat neuropsychiatric symptoms in Huntington's disease. SRX246 is a drug that works by blocking the vasopressin 1a (V1a) receptor in the brain. In the neurological system, V1a receptor is the major vasopressin receptor. SRX246 works by inhibiting the V1a receptor, restricting vasopressin from attaching to the receptor, and generating irritable and aggressive behavior, which is seen in Huntington's disease patients. However, currently approved drugs provide symptomatic and palliative care and do not target the underlying cause of the disease. While medications can decrease the severity of symptoms, they are often associated with adverse effects such as somnolence, gait issues, dysphagia, and apathy, which can have serious impacts on a patient’s quality of life. Given the lack of a cure for the disease, it is critical to evaluate how Health-related Quality of Life (HRQOL) is affected in these patients. HD patients in early to middle stages of the disease need coordinated multidisciplinary healthcare services, including assessment of cognitive function and counseling. Drug development for HD has faced significant obstacles as several therapies have failed to demonstrate efficacy or were associated with significant toxicity. Vaccinex Inc.'s phase II trial of Pepinemab failed to satisfy pre-specified co-primary endpoints in patients with early manifest and prodromal HD, in September 2020. The two co-primary endpoints—a family of two cognitive evaluations from the Huntington's disease Cognitive Assessment Battery and Clinical Global Impression of Change (CGIC)—did not attain statistical significance in the early manifestation population in the SIGNAL study. Related Press Release@ Huntington’s Disease Treatment Market Report Huntington’s Disease Treatment Market Report Highlights
The global Endoscopes Market size is expected to reach USD 27.9 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.4% from 2022 to 2030. Growing awareness levels about minimally invasive surgical procedures and the increasing prevalence of chronic disorders are the major factors accelerating the market growth. The benefits, such as less surgery-related blood loss, no muscle cutting, quicker recovery, offered by minimally invasive surgeries boost the adoption of endoscopic procedures over traditional/open invasive surgeries. In addition, advancement in endoscopic technology and rapid increase of its application to diagnose and treat various diseases are other key factors anticipated to propel the market growth over the forecast years. The flexible endoscopes product segment dominated the market in 2021.
This is attributed to the high demand for these devices on account of their unique features, such as the ability to reach viscera and cavities, better safety and efficiency, and improved ergonomic features. These devices are most commonly used in several endoscopic procedures, such as esophagogast roduodenoscopy (OGD), bronchoscopy, sigmoidoscopy, laryngoscopy, pharyngoscopy, nasopharyngoscopy, rhinoscopy, and colonoscopy procedures, which supports the product demand and segment growth.Based on application, in 2021, the Gastrointestinal (GI) endoscopy segment dominated the market owing to an increase in gastrointestinal disorders and a high preference for minimally invasive procedures. High volumes of GI endoscopic procedures and the availability of technologically advanced endoscopes to treat &diagnose functional gastrointestinal disorders are also driving the segment. In 2021, the hospitals end-use segment dominated the market owing to favorable reimbursement policies and growing utilization of endoscopes in hospital systems. Furthermore, a larger number of endoscopic procedures is performed in hospital settings as compared to other healthcare systems, which boosts the segment growth.In addition, North America accounted for the highest revenue share in 2021 owing to its better healthcare infrastructure, high preference for minimally invasive surgical procedures among individuals, and quickadoption of advanced technologies. The increasing burden of functional gastrointestinal disorders and cancer is anticipated to further propel market growth in this region. For instance, as per the data reported by the National Cancer Institute, in 2020, over 1.8 million new cancer cases were estimated to be diagnosed in the U.S. The overall decrease in the number of surgical procedures during COVID-19, in turn, impacted the growth of the market. Furthermore, to reduce the COVID-19 transmission risk, endoscopy centers have postponed and canceled the semi-urgent and elective cases, which affected the endoscopy procedure adoption in 2020.In addition, supply chain interruptions due to constant lockdown and shutdown imposed by the governments of top countries all over the globe also hampered the market growth in 2020. For instance, a study published in the Arab Journal of Gastroenterology in 2020stated that the endoscopy procedures volume decreased about 50% due to the COVID-19 pandemic in the majority of countries. Related Press Release@ Endoscopes Market Report Endoscopes Market Report Highlights
The global Medical Device Complaint Management Market size is expected to reach USD 13.4 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.5% from 2022 to 2030. Increasing utilization of software aiding in the overall complaint management process is expected to increase the market growth. The growing adoption of the digital system over paper-based work for tracking medical complaints is further boosting the market growth.
The medical device industry is highly regulated and inadequate product complaint handling accounts for a large percentage of FDA inspection findings. The complaints create severe reputational and brand risks and they need to be officially documented, inspected, tracked, and closed. Complaints may be minor, but they may also include a potential risk to the safety of the patient or product function or quality, which could cause damage to the company. Thus, it is important that all the complaints are correctly recorded in automated and integrated complaint management solutions to ensure that they are accurately investigated and addressed. An increase in the demand for medical complaint management solutions has been registered over the past few years owing to the streamlined process. Incidents are recorded and the data automatically drives the investigation and resolution workflow. Companies are attaining complete medical documentation with minimal errors along with reduced turnaround time on the account of fact that complaint management solutions offer advanced analytics and reporting tools for augmented management oversight. Moreover, the majority of companies are coming up with mobile app solutions to manage customer medical complaints. For instance, Intellect and Beckman Coulter in collaboration with Impiger technologies provide a mobile app platform on Google Play Store and the App Store to their customers, which enables them to register complaints, escalate tickets, and generate an inquiry. In addition, regulators are gradually focusing on handling customer complaints, the safety of the product, and device vigilance in both developed and emerging economies. Related Press Release@ Medical Device Complaint Management Market Report Medical Device Complaint Management Market Report Highlights
The global Skin Boosters Market size is anticipated to reach USD 2.1 billion by 2030, according to the new report of Grand View Research, Inc. The market is expected to expand at a CAGR of 9.3% from 2022 to 2030. Skin Boosters is a procedure wherein microinjections of biocompatible compounds like hyaluronic acid, vitamins, minerals, anti-oxidants, etc. that are naturally produced by the body are injected into the epidermis or mesoderm. Skin boosters simply help aid in the hydration process, which is fundamental for a youthful glow.
Unlike dermal fillers, skin boosters are not for wrinkle reduction or augmentation, their role is to primarily hydrate the skin and promote the formation of new collagen and elastin to give the skin a firmer appearance. Factors like rising technological advancement in aesthetics, rising disposable income, increasing aesthetic consciousness, and the increasing geriatric population in the search for a natural glow are propelling the market growth. According to Galderma, over five million treatments of Restylane Skinboosters have been performed to date. The demand for skin boosters is expected to propel significantly due to the fact that it provides a natural glow without distorting facial features or making them appear out of proportion. Growing social media influence, high consciousness towards aesthetic appearance, and its association with self-confidence and self-image by an individual are some of the reasons for market growth. In the light of COVID-19, the market was hampered as the footfall of patient appointments for surgical treatments was temporarily suspended. However, since the government in many countries has allowed resuming elective aesthetic procedures the demand for skin boosters has been on the rise. Moreover, according to the BBC network, inquiries and appointments for many surgical and non-surgical cosmetic treatments have seen a surge following the pandemic and are thus expected to propel market growth. Related Press Release@ Skin Boosters Market Report Skin Boosters Market Report Highlights
![]() The Brazil Sports Nutrition Market size is expected to reach USD 1.56 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.8% from 2022 to 2030. The expanding consumer base for sports nutrition products from athletes and bodybuilders to active lifestyle users is a major parameter driving the market in Brazil. Consumers are increasingly adopting a healthy lifestyle to enhance their quality of life. Additionally, the COVID-19 pandemic has increased awareness regarding health and wellness. This, in turn, has increased the adoption of various supplements including sports nutrition products. Moreover, rapidly growing instances of obesity are increasing the adoption of a healthy lifestyle. According to a report COVID-19 and Obesity: The 2021 Atlas, the prevalence of obesity in men is estimated to reach 25.2% by 2025 in Brazil. Obesity results in various health complications such as diabetes and hypertension. Growing awareness regarding obesity and its complications and various initiatives undertaken by public and private authorities to combat obesity are estimated to increase participation in sports and fitness activities. For instance, the National Food and Nutrition Security Plan (Plansan) was introduced in Brazil from 2016 to 2019 to control the growth of obesity in Brazil. Gym-goers and fitness enthusiasts consume sports nutrition products for various benefits such as delaying fatigue, improving strength, and reducing the risk of heat cramps. This, in turn, is estimated to fuel the market growth potential. Manufacturers operating in the Brazil sports nutrition space are offering innovative products to their consumers to increase product adoption and penetration. For instance, Probiótica Laboratories Ltda offers Carb Up Gum in lemon and cherry flavor. The company also offers Carb Up Wafel, a carbohydrate-containing waffle in Brazil. Such innovative products are increasing the adoption of sports nutrition products, especially among active lifestyle users. Companies are investing significantly in providing innovative products with new flavors to gain a wider audience for their products. Additionally, an increasing number of manufacturers are launching plant-based products to cater to the growing consumer demand. Plant-based proteins such as soy protein, rice protein, and pea protein are rapidly gaining traction in the market. Various sports nutrition products with applications such as immunity enhancement, cognitive enhancement, endurance improvement, and muscle growth are easily available in the market through a wide distribution network. Thus, various initiatives by key stakeholders are estimated to drive the market during the forecast period. Related Press Release@ Brazil Sports Nutrition Market Report Brazil Sports Nutrition Market Report Highlights
The global Disposable Endoscopes Market size is expected to reach USD 7.3 billion by 2030, registering a CAGR of 17.0% over the forecast period, according to a new report by Grand View Research, Inc. The growing demand for single-use endoscopes to eliminate the risk associated with reusable endoscopic devices is one of the major factors driving the market growth. In addition, disinfecting and cleaning of reusable endoscopes and their accessories are the most critical task for physicians, and the risk of infection associated with the endoscope accessories cannot be underestimated. For instance, according to the survey on the contamination of patient-ready endoscopes from three hospitals, published in the American Journal of Infection Control in 2018, told that microbial growth was found in 71% of the reusable endoscopes.
In addition, reusable endoscopes and their accessories are subject to the risk of leakage and clogging due to deterioration over time, which, in turn, drives the demand for disposable endoscopes owing to their low cross-contamination risk. By application, the bronchoscopy segment accounted for the highest market value share in 2021. Increasing adoption of single-use bronchoscopes in several therapeutic procedures including tumor debulking and foreign body removal to treat the disease conditions, such as Chronic Obstructive Pulmonary Disease (COPD) and asthma, is expected to drive the segment. Furthermore, patient infections can occur exogenously mainly due to contaminated equipment, but single-use bronchoscopes reduce the risk of infection for both physician and the patient, which will boost its demand. The hospital end-user segment dominated the market in 2021 owing to the presence of a large number of hospitals performing endoscopic procedures. However, the clinics' segment is expected to grow at the fastest CAGR over the forecast years due to the increasing preference for and high adoption of cost-effective disposable endoscopes over reusable ones to perform endoscopic procedures in the clinics. North America was the dominant regional market in 2021. The rising adoption of advanced technologies, the presence of advanced infrastructure, and increasing awareness regarding minimally invasive surgeries are some of the prominent factors propelling the market growth in the region. In addition, the rising prevalence of conditions, such as gastrointestinal disorders and cancer, coupled with, the growing geriatric population is the other factor supporting regional growth. The reduction of overall surgical procedures during the COVID-19 pandemic has partially affected the overall endoscope industry growth in 2020. However, the use of single-use endoscopes can reduce the viral transmission to the healthcare personnel conducting the procedures, which is expected to boost its adoption over the forecast years. Therefore, the market has seen growth during the pandemic. Related Press Release@ Disposable Endoscopes Market Report Disposable Endoscopes Market Report Highlights
The global Liposuction Surgery Devices Market size is expected to reach USD 7.5 billion by 2030 at a CAGR of 12.5%, 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, the integration of modern technology and the 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. The high disposable income of consumers is another driving factor for the growth of liposuction surgery in North America. These factors are expected to propel 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 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 the market growth. Nonetheless, increasing research and development in the domain and the launch of new technologies are expected to overcome these drawbacks. Related Press Release@ Liposuction Surgery Devices Market Report Liposuction Surgery Devices Market Report Highlights
![]() The global Parenteral Nutrition Market size is expected to reach USD 10.7 billion by 2030 and is expected to expand at a CAGR of 6.0% over the forecast period, according to a new report by Grand View Research, Inc. Growing incidences of chronic diseases, such as cancer, diabetes, and other neurological conditions; surge in essential nutrition deficiency among critically ill patients; and growing awareness pertaining to hospital-related malnutrition are few key factors increasing the adoption of parenteral nutrition. Parenteral drug administration provides the benefit of fast action and lower dose delivery, which prevent various adverse effects because of dietary imbalances, thereby promoting market growth. However, the high risk of infection during administration and growing preference for enteral nutrition among patients are major factors restricting the market growth. With the increasing population, healthcare costs and food expenditure for a household and the nation are growing. Hence, a higher birth rate is expected to impact nutrition level, thereby acting as a driver for the market. Realized natality plays a more prominent role than absolute natality (crude birth rate), as it includes environmental as well as resource pressures, such as water, food, and medication requirements per birth. Realized natality has been growing in the last decade and is anticipated to maintain growth over the forecast period. In 2020, the natality rate reported by the National Center for Health Statistics (NCHS) is 11.99 births per 1,000 population. Furthermore, the percentage of lower-weight infants was 8.0%, thereby boosting the demand for PN products worldwide. Related Press Release@ Parenteral Nutrition Market Report Parenteral Nutrition Market Report Highlights
The global Wound Care Market size is anticipated to reach USD 29.57 billion by 2030, registering a CAGR of 4.12% during the forecast period, according to a new report by Grand View Research, Inc. Increasing number of surgical cases, rapidly aging population, as well as rising number of diabetic patients, are among the major factors driving the market growth. For instance, according to Ageing Asia, in 2019, more than 139 million people i.e., about 10% of the total population, in India were over the age of 60 years. The number is expected to increase to 19.5% by 2050. Elder people are more susceptible to wounds, and thus, an increasing number of geriatric population is anticipated to propel the market growth. Obesity is a major health concern that leads to several other diseases or complications, such as diabetes and Cardiovascular Diseases (CVDs).
As per the WHO, in 2016, over 1.9 billion adults were overweight, out of which, around 650 million people were obese and around 2.8 million people die each year due to obesity. Such instances are expected to increase the demand for bariatric procedures and other related surgeries, thereby, propelling the market growth. Furthermore, with the introduction of the COVID-19 vaccine, and the lifting of lockdown impositions, the market is expected to witness rapid growth in the coming years. Many elective surgeries, which were postponed are expected to take place. In addition, many leading manufacturers are introducing new products, which may help them capitalize on the increasing demand for wound care products during the forecast period. Related Press Release@ Wound Care Market Report Wound Care Market Report Highlights
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