The global Healthcare Contract Research Organization Market size is expected to reach USD 66.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2021 to 2028. The increasing cost of drug development is expected to drive market demand over the forecast period. Also, rising clinical trials cost and challenges pertaining to patient recruitment have led biopharmaceutical companies to turn to regions like Central and Eastern Europe, Asia Pacific, Latin America, and Middle East for cost savings and quick patient recruitment.
In addition, growing pressure on industry players to follow stringent timelines has increased the demand for outsourcing research activities to Contract Research Organizations (CROs). Some government organizations are also outsourcing their clinical trial activities so that they can carry out clinical trials with the required infrastructure, expertise, and minimize their cost and timelines. However, the COVID-19 pandemic has significantly impacted the CRO market. The worldwide focus on finding a vaccine against coronavirus has had a significant impact on the development of other vaccines and drugs. At the peak of the pandemic, vaccines and treatments for COVID-19 accounted for 30% of all the trials in the U.S. This resulted in other trials being put on hold. The CRO market is recovering slowly through a hybrid approach. They are playing a significant role in helping sponsors and sites to start clinical trials. Market players have already built powerful tools to support virtual clinical trials. They are ready to rapidly assist sponsors to shift to this new environment and leverage the available tools. Related Press Release@ Healthcare Contract Research Organization Market Report Healthcare Contract Research Organization Market Report Highlights
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The global Medical Device Outsourcing Market size is expected to reach USD 227.1 billion by 2028 registering a CAGR of 11.2%, according to a new report by Grand View Research, Inc. Rising demand for advanced medical products is the key factor fueling the market growth. Regulatory bodies are emphasizing the quality of the healthcare devices provided to the public. Thus, to meet the regulatory standards, market players are using various services like regulatory consulting. For example, the European Medical Device Regulation undertakes special spontaneous inspection of outsourced products to test the quality as well as conformity with the standards.
Contract manufacturers in developed countries like the EU nations comply with the international standards for a quality management system, which makes them a preferred option as compared to the ones in developing countries like India and China. However, the regulatory changes anticipated in the developing countries ensure compliance by contract manufacturers. Demand for regulatory compliance is expected to boost the growth of consulting services, such as remediation, compliance, and QMS, thereby contributing to the growth of the global market. However, the current pandemic has put the MedTech industry at the center stage with unmatched demand for PPE, diagnostic tests, ventilators, and other critical supplies. Besides the ongoing extraordinary measures to promptly ramp up the manufacturing capacity & capabilities, Medtech leaders are seeking outside their boundaries of the normal sector to explore innovative solutions to supplement the capacity, such as open-source equipment design, as well as partnerships with firms outside the sector. Related Press Release @ Medical Device Outsourcing Market Report Medical Device Outsourcing Market Report Highlights
![]() The global Digital Pathology Market size is expected to reach USD 1.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2021 to 2028. The increasing prevalence of chronic diseases triggers the demand for advanced diagnostics, which is expected to drive market growth. Growing economic stability and awareness pertaining to the benefits of using Computer-Aided Diagnostics (CAD) is further contributing to the growth. Moreover, supportive regulations amidst COVID-19 pandemic is anticipated to increase penetration of digital pathology system in coming years. A March 2020 memorandum issued by the CMS stated that laboratories would be allowed to utilize temporary testing sites, such as homes, for digital pathology review and reporting, even if they are not CLIA-certified (provided that certain criteria are met). This waiver gives pathology labs the necessary regulatory flexibility to remotely maintain operations during the pandemic. During the pandemic, interim extraordinary measures were put in place in relation to Medical Device Single Audit Program (MDSAP) audits. These allowed substitutions of on-site audits with alternative arrangements, such as desktop audit, remote audit, hybrid audit, and surrogate audit. In July 2020, Proscia received MDSAP certification. Digital pathology has an important role in companion diagnostics and drug development pipeline, including molecular biology, biobanking, molecular tissue profiling, and tissue microarray analysis. Increasing demand for high-quality tissue samples in tissue-based biomarker research is expected to propel the adoption of the technology over the forecast period. Related Press Release@ Digital Pathology Market Report Digital Pathology Market Report Highlights
![]() The global Remote Patient Monitoring System Market size is expected to reach USD 4.1 billion by 2028, according to a new report by Grand View Research Inc. It is expected to expand at a CAGR of 19.7% from 2021 to 2028. The remote patient monitoring (RPM) system uses digital technology to gather patient data and monitor a patient’s health remotely. The remote patient monitoring system is expected to witness substantial growth in demand due to its capability to monitor various chronic conditions, such as diabetes, cardiovascular conditions, and cancer. According to the Centers for Disease Control and Prevention (CDC), 34.2 million people in the U.S. have diabetes and 88 million have prediabetes. Apart from this, the World Health Organization (WHO) estimates that around 422 million people have diabetes at the global level. Companies are consistently engaged in developing tools for monitoring patients with diabetes and other chronic diseases outside of conventional care settings, especially during the COVID-19 pandemic fueling the market growth. Asia Pacific is projected to be a key revenue-generating region in the coming years. The region is backed by developing countries, such as China, South Korea, and Thailand, which are witnessing an increase in the number of chronic diseases owing to lifestyle changes. Cardiovascular disease is among the leading cause of death in these countries. Remote patient monitoring system is expected to play a key role in the early detection and timely management of these diseases. Related Press Release@ Remote Patient Monitoring System Market Report Remote Patient Monitoring System Market Report Highlights
![]() The global Scanning Electron Microscopes Market size is expected to reach USD 6.5 billion by 2028, registering a CAGR of 8.52% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for nanotechnology-based research and growing R&D innovation in application areas are anticipated to serve as key growth drivers. Rapid growth witnessed in application areas, such as semiconductors, automobiles, pharmaceuticals, and nanotechnology, globally is among the key factors responsible for the significant growth of the SEM market. Technological advancements in SEM improves the quality control procedures of research laboratories in a wide range of industries, such as semiconductors, automobiles, and pharmaceutical manufacturing. Scanning electron microscopy plays a critical role in the imaging and elemental analysis of products. However, the advanced SEMs offer advantages, such as rapid analysis, compact size, and efficient results with higher resolution and 3D imaging. Furthermore, the COVID-19 pandemic is expected to increase the sale of SEMs. Due to the growing prevalence of communicable diseases, the market is expected to observe substantial growth over the coming years. Market participants are entering into partnerships and collaborations to prove their technical capabilities. For instance, in November 2020, Thermo Fisher Scientific Inc. partnered with Nanoimaging Services (NIS)-a provider of Transmission Electron Microscopy (TEM) services. The partnership helped Thermo Fisher Scientific Inc. obtain better accessibility to NIS’s cryoelectron microscopy (cryoEM) technology for pharmaceutical applications and biotechnology. Related Press Release@ Scanning Electron Microscopes Market Report Scanning Electron Microscopes Market Report Highlights
![]() The global Sports Nutrition Market size is expected to reach USD 34.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.9% from 2021 to 2028. Growing awareness of fitness and active living among consumers is a major factor contributing to the growth of the segment. For instance, according to the Global Wellness Institute, the fitness and mind-body sector was valued at USD 542.0 billion in 2015 and reached USD 595.4 billion in 2017. In addition, a rise in the number of gym-goers consuming supplements is driving the market. According to a study conducted in 2020, approximately half of the gym-goers consume supplements. Moreover, the importance of healthy eating and nutrition is growing among athletes. Many athletes are consuming nutritional products to enhance performance, muscle recovery, and endurance. This, in turn, is driving the market, globally. Although the spread of COVID-19 has negatively impacted the market, immunity-boosting sports nutrition products are gaining traction globally. Many manufacturers are introducing nutritional products supporting the immunity system. For instance, in October 2020, Health XP launched Shield Whey, a whey protein powder with immunity-boosting vitamins such as vitamin C, vitamin K, and vitamin E. Moreover, personalized formulations for targeted nutrition goals such as plant-based workout mixes are also gaining popularity. An increasing number of initiatives undertaken by the key stakeholders in the market is increasing the adoption of nutritional products. For instance, in May 2020, RBar Energy launched almond protein bars containing isoleucine, leucine, and valine to increase lean muscle mass. In December 2019, Herbalife Nutrition opened a new training facility in Chengdu, China. The training facility will allow the company to educate and train distributors and customers about its products and applications in China. Moreover, the players are adopting innovative strategies for promoting and increasing the adoption of these products. For instance, in March 2021, UK Pro League announced Veloforte as its official partner for performance nutrition products. Veloforte was to supply energy bars and other products to all players in the tour. Related Press Release@ Sports Nutrition Market Report Sports Nutrition Market Report Highlights
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