The global Magnetic Resonance Imaging Coils Market size is expected to reach USD 13.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.5% from 2021 to 2028. The growing prevalence of chronic diseases such as cardiovascular, neurological, cancer, and urological is expected to drive the market. Rising chronic diseases is a global healthcare concern. In the U.S., over half of the adult population suffers from these chronic diseases. Around 75.0% of the total healthcare expenditure in the U.S. is used for providing care for these chronic conditions.
For instance, as per the National Cancer Institute, in 2020, around 1,806,590 new cancer cases were diagnosed in the U.S. Similarly, as per American Heart Association, the mortality related to cardiovascular diseases is very high, with around 17.3 million deaths registered per year. This death rate is projected to reach 23.6 million by 2030. These diseases require imaging tools, mainly magnetic resonance imaging (MRI), for diagnosis and monitoring of progression as well as treatment effects. The growing demand for MRI for various applications will lead to the adoption of MRI coils, which, in turn, may propel market growth. Additionally, growing awareness regarding early diagnosis is also expected to contribute to market growth. Cancer and cardiovascular diseases together result in the highest global mortality rate. This has captured the attention of various governments and healthcare organizations and is driving them towards creating awareness regarding these diseases. For instance, in 2010, prevention and early detection services were offered free of cost to people aged 65 years and above through Medicare under the Affordable Care Act. Similarly, the Indian Cancer Society runs a Cancer Awareness and Educational Program. Through this program, it aims to create awareness regarding signs and symptoms of the disease and commercially available cancer treatments and diagnostic tools. It also aims at creating awareness regarding the benefits of early diagnosis of disease. Growing awareness will contribute towards the adoption of MRI and MRI coils during the forecast period. Since the demand for magnetic resonance imaging machines is increasing, market players are developing advanced and high field strength (7T) magnetic resonance imaging machines. The growing development of these machines is creating opportunities for various players manufacturing MRI coils, to develop coils that support high field strength machines. Currently, magnetic resonance imaging coils for high field strength machine is only available for head and knee application, however, various research institutes are researching to understand it’s efficiency in other applications as well. Despite these advancements, the high cost of MRI coils, new or refurbished is expected to hinder the market growth. Related Press Release@ Magnetic Resonance Imaging Coils Market Report Magnetic Resonance Imaging Coils Market Report Highlights
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![]() The global Virtual Clinical Trials Market size is expected to reach USD 11.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2021 to 2028. The need for patient diversity clubbed with enhanced data collection in clinical trials is boosting virtual/decentralized clinical trials (DCTs) market growth. There has been a rise in the R&D of new drugs and vaccines that has increased the volume and complexity of the trials. Virtual clinical studies eliminate challenges posed by traditional research studies, for example, delays in patient recruitment and time-consuming procedures. Also, studies have revealed that around 75.0% of people favored a mobile trial over traditional ones and 80.0% of patients are more likely to participate in a research study that uses mobile technology. The current pandemic of COVID-19 is making the clinical trial industry change the way of conducting ongoing or upcoming research studies. The pandemic, for the first time in history, has resulted in the global disruption of traditional onsite research studies. Hence, the regulatory bodies such as the U.S. FDA, the European Medicines Agency (EMA), the National Institutes of Health (NIH), and China’s National Medical Products Administration (NMPA), and several other regulating authorities have issued guidelines related to the conduct of research studies during the outbreak of coronavirus, and are in complete support of incorporating virtual services. Virtual research studies make use of monitoring devices, software apps, and online social engagement platforms to conduct every step of the clinical trial process including patient recruitment, counseling, measuring clinical endpoints, informed consent, and adverse reactions. Telehealth, home care, and remote patient monitoring have been gaining momentum as a healthcare offering, and the COVID-19 is adding more horsepower to this initiative. Related Press Release@ Virtual Clinical Trials Market Report Virtual Clinical Trials Market Report Highlights
Breast Cancer Diagnostics Market by Hologic Inc., Genomic Health (Exact Sciences Corporation), BD12/21/2021 The global Breast Cancer Diagnostics Market size is expected to reach USD 6.8 billion by 2028, according to a new study by Grand View Research Inc. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028. The growth is largely attributable to the increasing geriatric population exposed to the risk of breast cancer and early detection coupled with increasing awareness about breast cancer.
The introduction of 3D mammography or digital breast tomosynthesis, which is more accurate than 2D mammography, supports market growth. This advanced technology can detect 40.0% more cancers than 2D mammograms and reduce patient recalls. Rapid technological advancements are a major factor expected to drive the market over the coming years. Companies are adopting strategies that allow them to use their resources to aid in the development of new products, as well as enhance their supply chain. In November 2019, Exact Sciences Corporation announced the acquisition of Genomic Health, which was expected to help enhance the company’s market position and offerings by acquiring its product portfolio. In January 2021, Hologic Inc. announced that it has agreed to acquire Biotheranostics for approximately US$ 230 million. Biotheranostics is a commercial-stage molecular diagnostics provider for breast and metastatic cancers. The increasing launch of predictive and companion diagnostic tests for breast cancer is expected to boost the market growth. Recent launches in the segment include BRACAnalysis CDx by Myriad Genetics, which received FDA approval in 2018 as breast cancer companion diagnostics. In May 2019, QIAGEN introduced therascreen PIK3CA RGQ PCR Kit as a companion diagnostic for Novartis proprietary PIQRAY in guiding treatment decisions from tissue and liquid biopsy. In January 2019, the Fujifilm Holdings Corporation introduced its Tomosynthesis Biopsy option for ASPIRE Cristalle mammography system. This technique was expected to enable physicians to detect breast cancers more efficiently compared to others by providing an enhanced 3D image and a digital mammogram. However, there are specific risk factors associated with these imaging procedures. They involve administering high doses of fluorescent and barium contrast agents, as well as radiation exposure in the case of imaging and endoscopic procedures, which can cause several adverse effects such as nausea or diarrhea. The risks of ionizing radiation exposure associated with the use of CT, MRI, and X-rays, as well as the use of radioactive tracer injections in PET can limit the adoption of such screening procedures. Therefore, factors such as adverse effects of imaging act as a challenge for the companies in this market. Related Press Release@ : Breast Cancer Diagnostics Market Report Breast Cancer Diagnostics Market Report Highlights
The global Medical Device Cleaning Market size is expected to reach USD 38.42 billion by 2028 registering a CAGR of 10.2% over the forecast period, according to a new report by Grand View Research, Inc. The rising incidence of Hospital Acquired Infections (HAIs), the impact of the Covid-19 outbreak, and an increasing number of surgical procedures being performed are the key factors driving the global market.
Moreover, a rise in the number of government initiatives to ensure the highest level of infection prevention is expected to be a significant factor boosting the market growth. Government organizations across the globe are involved in issuing guidelines for spreading awareness about efficient infection prevention measures, which is expected to contribute to the growth of the overall market during the forecast period. For instance, the WHO has issued guidelines for infection prevention and control of pandemic- and epidemic-prone acute respiratory diseases in healthcare. These guidelines span standard precautions, such as hand hygiene and usage of protective apparel for disinfection and sterilization. Furthermore, the Centers for Disease Control and Prevention (CDC) released guidelines for disinfection and sterilization for efficient usage of infection control products by healthcare personnel in a wide array of healthcare settings, such as ambulatory care, home care, hospitals, and others. Thus, the overall penetration rate of infection prevention & control products is expected to increase, which is anticipated to significantly boost the growth of the overall market. Related Press Release@ Medical Device Cleaning Market Report Medical Device Cleaning Market Report Highlights
The global Personalized Retail Nutrition And Wellness Market size is expected to reach USD 3.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.9% from 2021 to 2028. The market growth can be attributed to the factors such as driving nutrition strategies, growing focus on nutrigenomics and nutrigenetics, a shift in the healthcare paradigm, and integration of data science for the development of innovative personalized nutrition.
In addition, nutrigenomics is gaining momentum owing to the rising number of studies for understanding the interrelation of nutrients with an individual’s genetic make-up. For instance, in May 2020, researchers revealed the role of flavonol intake in cardiometabolic diseases with the application of systematic bioinformatics analysis. The analysis revealed genes that are involved in leukocyte adhesion, lipid metabolism, and transendothelial migration. In addition, the study also analyzed the nutrigenomic effects of the compound in intestinal cells and their role in the metabolism of circulating lipoproteins. Moreover, the companies operating in the market for personalized retail nutrition and wellness are heavily investing in bringing innovative solutions for sufficing nutritional diet in individuals, which is further contributing to market growth. Companies are investing in enhancing technologies that can help in the development of new product lines related to microbiota, nutrition, and digital health. For instance, in November 2020, ADM Ventures announced its investment in Seventure’s Health For Life Capital (HFLC) Fund II. The company works with the Seventure team for identifying opportunities with the application of microbiome solutions for developing dietary supplements and other food and beverage applications. Hence, companies are extensively discovering and leveraging new nutritional ingredients for treating chronic diseases and common ailments. Furthermore, the COVID-19 pandemic has a positive impact on the growth of the market for personalized retail nutrition and wellness. The demand for vitamins, minerals, and supplements is growing at an exponential rate owing to its potential role in the management of COVID-19. Several vitamins and minerals such as vitamins C, vitamin D, and zinc, have immunomodulatory functions and have a vital role in preserving physical tissue barriers. Hence, the demand for such nutrients for optimizing the immune system to prevent or lower the risk of COVID-19 infection is further contributing to the growth of the market for personalized retail nutrition and wellness. Related Press Release@ Personalized Retail Nutrition And Wellness Market Report Personalized Retail Nutrition And Wellness Market Report Highlights
![]() The global Corporate Wellness Market size is expected to reach USD 93.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028. Medtronic (Covidien), ComPsych, Wellness Corporate Solutions, Virgin Pulse, Provant Health Solutions are some of the key players in this industry. Rising obese and overweight population increases insurance costs that account for the financial burden on the employers. The corporate wellness initiatives target particular health risk factors such as stress, obesity, smoking, poor eating, and lack of exercise. The pandemic has caused a change in the process of delivering wellness services. Although in-person sessions have resumed to some extent, the virtual platform has been made available to at-risk employees to meet their psychological and fitness needs. Initially, the lockdown imposed due to COVID19 resulted in transition to work from home, causing a great deal of stress. Employers have started offering some kind of fitness program for the purpose of disease prevention and improve productivity. According to a study conducted by Harvard economists, absenteeism costs fall by USD 2.7 for every dollar spent on fitness programs. Therefore, employees need to be encouraged to adopt a healthier lifestyle to improve their performance. Employers providing the programs have noticed a significant rise in productivity and a decline in leaves and attrition. In addition, companies in the U.K. initiated the Fit for Work service, which offers a tax benefit of USD 663.3 per year. Organizations are providing wearables, such as Fitbit, Apple watch, and Google watches, which helps in keeping track of parameters such as heart rate and blood pressure. Related Press Release@ Corporate Wellness Market Report Corporate Wellness Market Report Highlights
The global Digital Therapeutics Market size is anticipated to reach USD 19.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 23.1% from 2021 to 2028. Omada Health, Inc., WellDoc, Inc., 2Morrow, Inc., Livongo Health, Propeller Health are some of the key players in this industry. The key drivers for this growth include increasing incidence of chronic diseases, digitization, demand for innovative and affordable healthcare, and government initiatives.
Digital health went from novel to necessity during 2020. It swept through almost every healthcare domain as adoption peaked, accelerated by the COVID-19 pandemic. This included telehealth, telemedicine, digital pathology, triage solutions, mhealth, as well as digital therapeutics. Omada Health, Inc., a digital therapeutics provider, leveraged the gaps in care due to COVID-19 to provide extra support and guidance from its licensed specialists to those who had their doctor’s appointments deferred indefinitely. The company also helped primary care providers, therapists, endocrinologists, and cardiologists convert their practices to telehealth through enhanced education, psychosocial support, and remote monitoring. In response to COVID-19 and its repercussions on mental health, the FDA released guidelines expanding and promoting the scope of digital health therapeutic devices for mental health conditions. Rising initiatives by public and private players is another factor expected to propel the market growth. For instance, in June 2020, Akili Interactive Labs, Inc. received the CE mark for its digital therapeutic software for the treatment of ADHD called EndeavorRx. With an increase in internet usage and dependency on smartphones, digital therapeutics is set to register continued growth over the forecast period. This is owing to increased demand for creative and innovative treatment options that could be used remotely by patients. In February 2021, SilverCloud partnered with Cerner Corporation to integrate its virtual mental health platform with the latter’s electronic health records. With this, SilverCloud intended to scale the delivery of evidence-based mental health treatment while improving patient outcomes and lowering the cost of care. Related Press Release @ Digital Therapeutics Market Report Digital Therapeutics Market Report Highlights
The global Air Ambulance Services Market size is expected to reach USD 11.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.0% from 2021 to 2028. AMR, PHI Air Medical, Babcock Scandinavian Air Ambulance are some of the key players in this industry. The increasing number of accidents, the impact of COVID-19, and technological advancements are the key driving factors for the market.
Air ambulance services are used generally in case of medical emergencies. Patients or their family members have to bear high costs in case the services are availed in dire situations. Thus, reimbursement plans help patients recover costs and reduce this burden. Many companies offer reimbursement for the services such as Medicare and Medicaid. Moreover, the majority of the medical insurance guidelines and employee benefit plans offer some type of air ambulance coverage. The United States Department of Health and Human Services has included an air medical reimbursement plan in the Affordable Care Act. In February 2017, lawmakers in Montana supported two air ambulance regulation bills with an aim to reduce the economic burden on patients. It was estimated that around 49.0% of the U.S. population will be affected by chronic diseases by 2025. Cardiac diseases and stroke account for 30.0% of the deaths in the U.S. Cardiovascular diseases are the leading cause of death globally. Stroke is the second most common cause of death worldwide. According to the WHO, it is estimated that by 2020, chronic diseases will account for 3/4th of the total deaths globally, out of which, 71% will be caused by ischemic heart diseases and 75% of deaths will be caused by stroke. India and China have a high prevalence of cardiac diseases. Chronic diseases, such as cardiac diseases and stroke, usually require an emergency medical response. The services provide rapid response in case of such emergency medical situations. Air ambulances are equipped with advanced and innovative medical care for cardiac, stroke, chronic obstructive pulmonary disorder, and trauma patients. Related Press Release @ Air Ambulance Services Market Report Air Ambulance Services Market Report Highlights
The global Blood Warmers Market size is expected to reach USD 1.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.3% from 2021 to 2028. Stryker Corporation, Gentherm Medical, Belmont Medical, Kimberly-Clark are some of the key players in this industry. Gunshot wounds, increasing incidence of road accidents, and mishaps are the key driving factors for the market.
A rising number of road accidents is among the top factors that are driving the market. Road mishaps are the 8th leading cause of death for individuals across all ages, with a significant percentage of fatalities among victims occurring due to severe blood loss. According to the Global Status Report on Road Safety 2018, approximately 1.4 million individuals die of road accidents every year. Ambulatory and emergency paramedic services, therefore, need to provide blood/IV fluids to patients in such remote and extreme conditions. Since these medical fluids are stored in lower temperatures to preserve their potency, directly introducing them to patients can cause induced hypothermia. With an added risk of hypothermia as a result of blood loss, stored blood is initially heated to body temperature before infusion into a patient. In developed countries, ambulatory services have advanced portable warming systems that help stabilize a patient in emergency situations. In developing countries, due to the higher cost of portable warmers, the risk of fatality due to hypothermia or blood loss is higher as the non-portable warmers are generally hospital-based. The warmers are also required by search and rescue forces, as they deal with numerous victims of natural calamities and mishaps that often occur in the remotest or most extreme environments. This is the reason why the demand for the medical device has observed a growth among rescue forces in the international market, thereby propelling market growth over the forecast period. Related Press Release @ Blood Warmers Market Report Blood Warmers Market Report Highlights
The global Anti-Biofilm Wound Dressing Market size is expected to reach USD 1,219.85 million by 2028, expanding at a CAGR of 9.2%, according to a new report by Grand View Research, Inc. The rising incidence of Hospital Acquired Infections (HAIs), the growing prevalence of chronic diseases, and the increasing number of burn cases are the key driving factors for the market.
Increasing the prevalence of chronic diseases across the globe is anticipated to drive the market. For instance, as per the International Diabetes Federation, the global prevalence of diabetes is expected to increase from 366.0 million in 2011 to 552.0 million by 2030. Since prolonged diabetes leads to diabetic foot ulcers, thus, the rising prevalence of diabetes is expected to render a positive impact on market growth over the forecast period. The anti-biofilm wound dressing is very much effective in healing chronic injuries, thus, this factor is expected to propel the demand for the product. Furthermore, the increasing geriatric population across the globe is also anticipated to surge the market growth. For instance, as per the World Health Organization (WHO), the global geriatric population is anticipated to rise from 90.0 million in 2016 to 2.0 billion by 2050. Since the geriatric population is prone to chronic diseases and ulcers, thus growing geriatric population is also expected to surge in market growth. Increasing cases of accidents and trauma such as burns are expected to contribute to market growth. Traumatic events are most common in low and middle-income countries in comparison to high-income countries. Around 50.00% of people globally are exposed to fire-related traumas. For instance, as per the WHO, over 1,000,000 people are registered, annually, as moderately or severely burnt. Therefore, such an increase in the number of burn cases is projected to boost the demand for the products, thereby propelling the market growth over the forecast period. Related Press Release@ Anti-biofilm Wound Dressing Market Report Anti-biofilm Wound Dressing Market Report Highlights
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