Month: June 2024

“The Asia-Pacific market is likely to witness significant growth owing to increase in cardiac diseases, diabetes, and infectious diseases patient pool, moreover, improving healthcare infrastructure and the implementation of supportive government initiatives to increase the accessibility of effective diagnostic tools in several APAC countries such as India and China.”

Point of Care Diagnostics Market in terms of revenue was estimated to be worth $49.7 billion in 2023 and is poised to reach $77.8 billion by 2028, growing at a CAGR of 9.4% from 2023 to 2028 according to a new report by MarketsandMarkets™. Globally, the growing burden of chronic diseases like diabetes, cardiovascular diseases, cancer is accelerating the demand for  rapid and effective diagnostic testing. Moreover, the rising advancements in microfluidic technology, and miniaturization are enabling manufacturers to develop portable and smaller PoC diagnostics device. Moreover, the shift towards healthcare decentralization and increasing investments for product development is anticipated to bolster the growth opportunity for point of care diagnostics market.

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Pricing pressure due to reimbursement cuts and limited budgets along with strict regulatory approval process for new point of care product commercialization are factors expected to restrain market growth during the forecast period.

The Lateral Flow Assays segment, by platform, is expected to register the largest market share of the global point of care diagnostics market in 2022.

Based on platform, the point-of-care diagnostics market is segmented into lateral flow assays, immunoassays, microfluidics, dipsticks, and molecular diagnostics. The lateral flow assays segment dominated this market with a share of in 2022.Lateral flow assays are simple in usage, relatively inexpensive, making it more accessible for patients and healthcare provider, LFA technology does not require trained person to operate, allowing them to be used in various healthcare settings, from clinics and pharmacies to  remote arears, promoting healthcare decentralization. All these factors are contributing towards the dominance of lateral flow technology in point of care diagnostics market.

The OTC testing product segment, by mode of purchase, to dominate the global point of care diagnostics market in 2022.

On the basis of mode of purchase OTC testing products segment accounted the largest market share in 2022 attributed to the increasing adoption of OTC products owing to its ease of usage and convenience. The presence of diverse range of OTC point of care devices for diseases screening, personal health monitoring and various other conditions further contribute to the rising demand for OTC PoC testing devices among consumers.

“The APAC market, by region, to register highest growth rate in the forecast period.”

On the basis of region, the radiotherapy market is segmented into North America, Europe, Asia Pacific, and the Latin America, Middle East & Africa.  The Asia-Pacific market is likely to witness significant growth owing to increase in cardiac diseases, diabetes, and infectious diseases patient pool, moreover, improving healthcare infrastructure and the implementation of supportive government initiatives to increase the accessibility of effective diagnostic tools in several APAC countries such as India and China. The growing adoption of self-testing kits, expansion of geographical footprints of key players, and emergence of many local players in the region are likely to support growth of point of care diagnostics market in Asia Pacific

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Point of Care Diagnostics Market Dynamics:

Drivers:

1.  Rising incidence of infectious diseases

2.  Increasing prevalence of target conditions

3.  Favorable government initiatives for POC testing

4.  Rising number of CLIA-waived POC tests

Restraints:

1.  Pricing pressure on POC manufacturers

2.  Stringent regulatory approval process for product commercialization

Opportunities:

1.  High growth potential of emerging markets

2.  Decentralization of healthcare

3.  Innovative product development

Challenge:

1.  Inadequate standardization with centralized lab methods

2.  Limited awareness in emerging markets

3.  Premium pricing of novel platforms

Key Market Players of Point of Care Diagnostics Industry:

As of 2022, the point of care diagnostics market was dominated by Abbott Laboratories (US), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), and Becton, Dickinson and Company (US)

A breakdown of the primary participants referred to for this report is provided below:

• By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3– 16%
• By Designation: C-level–10%, Director-level–14%, and Others–76%
• By Region: North America–40%, Europe–32%, Asia Pacific–20%, Latin America–5%, and the Middle East & Africa–3%

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“North America accounted for the largest share of 40.2% of the global biomaterials market, followed by Europe and the Asia Pacific, with shares of 31.5% and 21.4%, respectively.”

Biomaterials Market in terms of revenue was estimated to be worth $45.2 billion in 2024 and is poised to reach $64.2 billion by 2029, growing at a CAGR of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The biomaterials market is estimated to grow at a CAGR of 7.3% during the forecast period of 2024 to 2029. The important factors impacting market growth are the growing demand for biomaterials in wound healing and plastic surgery and the growing use of biomaterials in various therapeutic areas. Rising funding and investments in regenerative and personalized medicine and growing demand for implantable devices are expected to drive market growth in the near future.

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Metallic biomaterials segment accounted for the largest estimated share of the biomaterials market

Based on type, the biomaterials market is segmented into metallic (stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, silver, magnesium, and other metallic biomaterials), polymeric (polymethylmethacrylate, polyethylene, polyester, polyvinylchloride, silicone rubber, nylon, polyetheretherketone, other polymeric biomaterials), ceramic (calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon and glass) and natural (hyaluronic acid, collagen, fibrin, cellulose, chitin, alginate, gelatin, chitosan, silk, other natural biomaterials). The metallic biomaterials segment was predicted to account for the largest share of the biomaterials market in 2023. The dominant share of this segment can primarily be attributed to the wide use of metals in the manufacturing of medical devices for cardiovascular, dental, and orthopedic applications. The growing geriatric population globally is also expected to increase the demand for these devices as age increases the susceptibility to orthopedic, dental, ophthalmological, neurological, and cardiovascular disorders.

Orthopedic applications win the largest estimated share of therapeutic areas

Based on application, the biomaterials market is classified into Cardiovascular (Catheters, Stents, Implantable Cardiac Defibrillators, Sensors, Heart Valves, Vascular Grafts, Guidewires, Other Cardiovascular Products), Orthopedic (Joint Replacement [Knee Replacement, Hip Replacement, Shoulder Replacement, Other Joint Replacement Procedures], Spine Surgery, [Spinal Fusion, Minimally Invasive Fusion, Motion Preservation & Dynamic Stabilization {Pedicle-based Rod Systems, Interspinous Spacers, Artificial Discs}], Bioresorbable Tissue Fixation [Suture Anchors, Interference Screws, Meniscal Repair Tacks, Meshes], Orthobiologics, Fracture Fixation [Bone Plates, Screws, Pins, Rods, Wires]), Ophthalmology (Contact Lenses, Intraocular Lenses, Functional Replacement of Ocular Tissues, Synthetic Corneas, Other Ophthalmology Products), Dental (Dental Implants, Dental Bone Grafts & Substitutes, Dental Membranes, Tissue Regeneration Materials), Plastic Surgery (Soft Tissue Fillers, Craniofacial Surgery Products, Facial Wrinkle Treatment Devices, Bioengineered Skins, Peripheral Nerve Repair Devices, Acellular Dermal Matrices), Wound Healing (Wound Closure Devices, [Sutures, Staples] Internal Tissue Sealants, Surgical Hemostats

During the forecast period, North America exhibited the most rapid growth.

North America accounted for the largest share of 40.2% of the global biomaterials market, followed by Europe and the Asia Pacific, with shares of 31.5% and 21.4%, respectively. The increase in biomaterial-based research, the rising demand for plastic surgeries, the growing incidence of cancer, and the rising prevalence of cardiovascular diseases are the key factors driving the growth of this market. The market in the Asia Pacific is expected to witness the highest growth rate of 7.7% during the forecast period, primarily due to the rising geriatric population in China and India, the growing healthcare industry in Japan, and the rising prevalence of cardiovascular diseases in India.

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Biomaterials Market Dynamics:

Drivers:

1. Growing demand for biomaterials in wound healing and plastic surgery
2. Growing use of biomaterials in various therapeutic areas
3. Rising funding and investments in regenerative and personalized medicine
4. Growing demand for implantable devices

Restraints:

1. Biocompatibility issues

Opportunities:

1. Growing interest in bioabsorbable biomaterials
2. Expanding healthcare market in emerging economies
3. Rising opportunities in personalized, smart, nanoengineered, and sustainable biomaterials

Challenge:

1. Durability and long-term performance issues

Key Market Players of Biomaterials Industry:

The global biomaterials market comprises of many key market players competing for markets shares like BASF SE (Germany), Covestro AG (Germany), Celanese Corporation (US), Carpenter Technology Corporation (US), DSM (Netherlands), Corbion NV (Netherlands), Evonik Industries AG (Germany), Victrex Plc (UK), CeramTec GmbH (Germany), Mitsubishi Chemical Group Corporation (Japan), CoorsTek Inc. (US), Berkeley Advanced Biomaterials (US), CAM Bioceramics B.V. (Netherlands), Zeus Company Inc. (US), AMETEK Inc. (US), and GELITA AG (Germany).

The primary interviews conducted for this report can be categorized as follows:

• By Respondent: Supply Side- 80%, and Demand Side – 20%
• By Designation (Supply Side): Managers – 45%, CXOs & Directors – 30%, Executives- 25%
• By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10%, MEA- 5%

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Country: United States
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“Prominent players in the Mental Health Screening market include Adaptive Testing Technologies (US), Proem Behavioral Health (US), Aiberry (US), SonderMind Inc. (US), Clarigent Health (US)”

 Mental Health Screening Market in terms of revenue was estimated to be worth $0.9 billion in 2023 and is poised to reach $1.8 billion by 2029, growing at a CAGR of 12.2% from 2023 to 2029 according to a new report by MarketsandMarkets™. The growth in the Mental Health Screening market is driven by the growing geriatric population and subsequent increase in the prevalence of mental disorders, rising awareness of mental health issues, technological advancements, and the increasing focus on remote monitoring. The adoption of mental health screening tools is also expected to increase with the integration with wearable technologies and the rise of social media. But the stigma and limited awareness and data privacy concerns may pose a challenge to the Mental Health Screening market during the forecast period.

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Cognitive Disorders is the fastest growing in the Mental Health Screening market in 2023.

Based on applications, the mental health screening market is segmented into physiological, psychiatric, behavioral, and cognitive disorders. Physiological disorders are further segmented into depression, anxiety, post-traumatic stress disorder (PTSD), bipolar disorder, eating disorder, substance abuse, and other physiological disorders. Psychiatric disorders are further segmented into schizophrenia, psychotic disorder, dissociative disorder, obsessive compulsive disorder, dissociative disorder, attention deficit hyperactivity disorder (ADHD), and other psychiatric disorders. Behavioral disorders are again segmented into self-harm, aggression, sleep disorder, social withdrawal, dissociative disorder, hyperactivity, and other behavioral disorders. Cognitive disorders are segmented into cognitive impairment, dementia, Alzheimer’s disease, and other cognitive disorders.

The cognitive disorders is the fastest growing in Mental Health Screening market in 2022 attributing to the rising geriatric population, increasing incidence of neurodegenerative diseases, growing awareness, and improved access to screening tools. These disorders can significantly impact an individual’s ability to perform daily activities and maintain independence. It often affects older adults, but it can also occur in younger individuals due to factors like traumatic brain injury, genetic predispositions, or neurological conditions.

Self-reported questionnaires & surveys are the largest screening methods of the Mental Health Screening market in 2022.

Based on screening methods, the global mental health screening market is segmented into self-reported questionnaires & surveys, clinical interviews, observation-based assessments, and biomarker testing. The self-reported questionnaires & surveys segment dominated the mental health screening market in 2022 attributing to the easy availability of a wide variety of questionnaires at affordable prices over digital platforms and availability of self-reported questionnaires & surveys in multilingual formats. Moreover, the ongoing advancements in questionnaire designs are key factors propelling the global adoption of self-reported questionnaire-based assessments in mental health screening

By setting, online platforms is the fastest growing in the Mental Health Screening market in 2022.

Based on setting, the Mental Health Screening market is segmented into clinical settings, educational institutions, workplace/corporate programs, online platforms, and other settings. The online platforms segment is expected to register the highest growth rate in the forecast period attributing to the easily accessible and personalized assessments to the patients. Moreover, online platforms use a combination of screening methods to provide users with comprehensive, accessible, and personalized assessments of their mental health status and needs. Thus, promoting mental health awareness, early intervention, and access to support services for individuals seeking assistance with their mental well-being.

North America dominates the global Mental Health Screening market in 2023.

The Mental Health Screening market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2022, North America accounted for the largest share of the Mental Health Screening market. As this region is home to a significant number of mental health screening solution manufacturers. Moreover, the growing number of people requiring mental health services, increasing mental health reforms, and the availability of government funding for expanding mental health services in the region, reinforces its position at the forefront of the mental health screening market.

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Mental Health Screening Market Dynamics:

Drivers:

1. Growing geriatric population and subsequent increase in prevalence of mental disorders
2. Rising awareness of mental health issues
3. Technological advancements
4. Increasing focus on remote monitoring

Restraints:

1. Stigma and limited awareness
2. Data privacy concerns

Opportunities:

1. Integration with wearable technologies
2. Rise of social media and its impact on adoption of mental health screening tools

Challenge:

1. Concerns regarding accuracy and validity

Key Market Players of Mental Health Screening Industry:

Prominent players in the Mental Health Screening market include Adaptive Testing Technologies (US), Proem Behavioral Health (US), Aiberry (US), SonderMind Inc. (US), Clarigent Health (US), Riverside Community Care (US), Kintsugi Mindful Wellness, Inc. (US), Thymia Limited (UK), Ellipsis Health Inc. (US), Canary Speech, Inc. (US), Headspace Health (US), Quartet Health, Inc. (US), Modern Life, Inc. (US), Sonde Health, Inc. (US), FuturesTHRIVE (US), Koninklijke Philips N.V. (Netherlands), Alphabet Inc. (Fitbit) (US), ResMed (US), Apple Inc. (US), MoodFit (US), Wellin5 USA Inc. (Canada), MoodTools (US), Cognitive Health Solutions LLC (US), Woebot Labs Inc. (US), and CogniABle (India).

Breakdown of the supply-side, demand side, primary interviews by company type, designation, and region:

• By Supply Side: Tier 1 (25%), Tier 2 (5%), and Tier 3 (70%)
• By Designation: C-level Executives (27%), Director-level (18%), and Managers (55%)
• By Region: North America (45%), Europe (30%), Asia Pacific (20%), Latin America (3%), and Middle East and Africa (2%)

Recent Developments of Mental Health Screening Industry:

• In November 2023, SonderMind (US) acquired Total Brain (US) to expand its reach, offering individualized mental wellness, supporting therapists with enhanced care techniques, providing population mental health tools for enterprises, and delivering comprehensive solutions to health plans.
• In October 2023, Ellipsis Health, Inc. (US) partnered with Augmedix (US) to introduce automated mental health screenings during patient visits.
• In December 2021, Quartet Health, Inc. (US) successfully acquired InnovaTel Telepsychiatry (US), turning its vision of rapidly delivering high-quality mental healthcare for everyone into a reality.

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Phone: 18886006441
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“Browse 192 market data Tables and 47 Figures spread through 312 Pages and in-depth TOC on “Orthopedic Braces & Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Neck, Elbow, Hand, Wrist), Category (Soft, Rigid, Hinged), Application (Ligament (ACL, LCL), Preventive, OA), Distribution (Pharmacies), & Region – Global Forecast to 2029”

 Orthopedic Braces & Supports Market in terms of revenue was estimated to be worth $3.6 billion in 2023 and is poised to reach $5.1 billion by 2029, growing at a CAGR of 5.9% from 2023 to 2029 according to a new report by MarketsandMarkets™. The major factors driving the growth of this market include Progress in medical technology and materials used in braces, coupled with rising awareness about injury prevention and rehabilitation, contributing to the expanding demand for orthopedic braces and supports.

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Product segment to register significant growth rate over the forecast period of 2023-2029.

Based on the product, the global orthopedic braces and supports market is segmented into Knee, Ankle, foot walkers, Hip, Back, and Spine, Shoulder, Elbow, Hand, Wrist Facial braces and supports. The Kness braces and supports segment is anticipated to register the highest growth rate over the forecast period.

Preventive Care segment in application to register significant growth rate over the forecast period of 2023-2029.

Based on application, the global orthopedic braces and supports market is segmented into preventive care, ligament Injury, post-operative rehabilitation, osteoarthritis, compression therapy, Other Application. The growing trend towards proactive health management has led to increased interest in preventive care, including the use of orthopedic braces and supports to address musculoskeletal issues before they escalate. Additionally, as individuals become more health-conscious, there is a rising awareness of the role that orthopedic braces can play in preventing injuries, promoting proper alignment, and supporting overall musculoskeletal well-being.

The hospitals and breast care centers segment accounted for the largest share of the orthopedic braces and supports market, by distribution channel, in 2023.

Based on distribution channel, the orthopedic braces and supports market is segmented into hospitals and surgical centers, orthopedic clinics, pharmacies and retailers, e-commerce platforms and other end users. The hospitals and surgical segment accounts for the largest share of the market in 2022. The increasing prevalence of musculoskeletal disorders and post-surgical rehabilitation needs has fueled the demand for orthopedic braces and supports in hospitals and surgical centers. Additionally, advancements in medical technology and a growing emphasis on non-invasive treatment options contribute to the expanding utilization of orthopedic braces within healthcare settings for comprehensive patient care.

The Asia Pacific market to register a significant growth in the market during the forecast period.

The Asia Pacific orthopedic braces and supports market is estimated to register a significant growth from 2023 to 2029. The increasing patient population, rising geriatric population, rapid economic growth and increasing disposable income are driving the market growth in APAC countries. This region is having a rise in healthcare investment and expenditure, offering significant growth opportunities for the key players.

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Orthopedic Braces & Supports Market Dynamics:

Drivers:

1. Increasing prevalence of orthopedic diseases and disorders

Restraints:

1. Limited patient qualification for bracing-mediated orthopedic treatment

Opportunities:

1. Increased sales of off-the-shelf and online products

Challenge:

1. Significant adoption of pain medication

Key Market Players of Orthopedic Braces & Supports Industry:

As of 2022, prominent players in the orthopedic braces and supports market are 3M (US), Essity (Sweden), Ossur HF (Iceland), Thuasne Group (France), Zimmer Biomet (US), and Bird & Cronin Inc. (US)

A breakdown of the primary participants referred to for this report is provided below:

• By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3– 16%
• By Designation: Director-level–14%, C-level–10%, and Others–76%
• By Region: North America–40%, Europe–32%, Asia Pacific–20%, Latin America–5%, and the Middle East & Africa–3%

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Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
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