Medi-Tech Insights Research Reports

The growth in biopharmaceutical sales and pipeline and increasing complexity of molecules would drive the outsourcing of biologics development and manufacturing services across the product lifecycle. Moreover, the rising number of molecules (recombinant proteins and antibodies) in the pipeline being developed by small and virtual biotechs (>60%) who lack in-house manufacturing capabilities and expertise to bring their candidates to market would in turn boost the demand for CDMO services. Huge Potential for Upturn in Outsourcing Ratio The outsourcing ratio in biologics manufacturing is much less compared to that for small molecules, providing ample opportunity for growth. With the increasingly complex and rapidly evolving biopharma industry, companies are looking for CDMOs who can provide significant regulatory leadership and expertise in all stages from early-stage discovery to commercialization. Moreover, newer technologies like viral vector, mRNA, and cell & gene therapy a...

Over the past decade, automation has become indispensable in laboratories globally, with manual processes being replaced by machines in every area of science and technology. The market continues to witness several new product launches. For instance,  In March 2022, Biosero, Inc., a developer of laboratory automation solutions expanded its laboratory automation capabilities with the launch of several new products and features in the company’s Green Button Go software suite. The software allows scientists to automate workflows ranging from a single workstation to operations that span multiple labs. Automation, AI, and Machine Learning set to boost the growth of the Laboratory Automation Market Integration of AI and automation in laboratory workflows not only reduces several manual processes of lab testing but also streamlines logistics and accessioning, and helps optimize delivery and use of resources. The automation of processes, workflows, and data enables laboratories to reduce do...

Companion robots offer companionship and emotional support for the children, elderly, and disabled people. Over the years, the improvements in sensors, actuators, and AI have led to rise in interest in healthcare companion robots market. Rising aging population, the rising cost of elder care, and shortage of caregivers The population across the globe is aging and the number of caregivers in relation to the aging population is declining. In Japan, there will be an estimated shortage of 1 million caregivers by 2025. Moreover, the cost of elder care is also rising. Between 2019 and 2020, the cost of in-home care jumped by about 4.4%; assisted living costs surged by 6.2%; and nursing home costs increased by 3%. The use of robots instead could help reduce this cost. For instance, a monthly service contract for Stevie (a robot developed by Trinity College, Dublin) would likely run between 50-60% of the cost of hiring a human to do the same tasks, as per their claim. “The growing dispar...

Pain is an unpleasant sensation and emotional experience usually caused by tissue damage. Pain can be either acute or chronic. In 2019, The National Health Interview Survey founded that more than 7% of adults in the US had chronic pain syndrome which hindered their normal activities in work place. Advent of Advanced Pain Management Technologies Currently, first line of treatment for pain management is oral medication due to their easy availability, and lower cost. However, in the recent years, due to development of advanced technologies, FDA approved non-prescription medical devices, devices used in combination with prescribed medications or other forms of pain management therapy, the quality of treatment and care has improved immensely. There are various types of pain management devices available in the market such as spinal cord stimulators, transcutaneous electrical nerve stimulation devices, analgesic infusion pumps, and ablation devices. Recently, many developments have been made ...

Surgical instrument tracking systems is a combination of latest scanning technology and application software for inventory management. It provides a solution which allows users to maintain Quality, Compliance and Traceability of Instruments in work place. Starting in 2014, different classes of medical devices are included in UDI program to provide more accurate tracking of medical devices. Moreover, EU acted to adopt UDI in 2017, under the EU MDR. Advancements in Software/Hardware Usage Drives the Market Growth Software is a crucial part of surgical instrument tracking systems due to adoption of latest information technology systems and inventory management systems in the hospitals. However, hardware segment is expected to witness the highest growth during the forecast period due to the repetitive purchase of non-durable RFID tags/barcode labels that needs replacement. Shift towards RFID Technology over Traditional Barcode Methods Currently hospitals are using barcode method due to its...

Single-cell technologies enable the analysis of differences between individual cells instead of the averaged signal obtained is the case of bulk samples. Single-cell analysis: A potential oncology research tool Single-cell analysis is emerging as powerful tool for cancer research. It characterizes the molecular state of each tumor cell, enabling exploration of tumor heterogeneity, microenvironment cell-type composition, and cell state transitions that affect therapeutic response, particularly in the context of immunotherapy. With the growing prevalence of various types of cancers and rising cancer research projects, the demand for products used in single-cell analysis is likely to grow. “Bulk sequencing can explain the most common mutations in tumor, but single-cell DNA multi-omics offer insights on which mutations occur at single-cell level. Drug developers are increasingly using single-cell analysis to prioritize targets and pathways for new therapies, demonstrate therapeutic ...

Legalization of Medical Cannabis in Key Markets such as the USA bolsters the growth of Cannabis Testing Market Citing the benefits of medical cannabis, governments in various countries are legalizing its use. In recent years, countries such as Israel, Australia, North Korea, Spain, the UK, Canada, Portugal, Germany, Italy, Brazil, and the Netherlands have all legalized the use of medical cannabis. In the United States, 37 states, 4 U.S. territories as well as the District of Columbia have also legalized medicinal cannabis. Due to the growing legalization and increased adoption of cannabis testing, the demand for the analytical testing of cannabis to ensure that the products are contamination-free and safe for human consumption has grown. To cater to the growing demand for cannabis testing, the number of cannabis testing laboratories is also growing. Strong Government Support for Legalization of Medical Marijuana in LATAM and Selected European Countries l ikely to open New Growt...

Medical lasers use precisely focused light sources to treat or remove tissues. These are used during cosmetic surgeries, refractive eye surgeries, dental procedures, and general surgeries. Further, medical lasers are also used in radiotherapy for patient positioning. The global medical lasers market growth is driven by the increasing prevalence of ophthalmic, dermatology, and dental disorders . Demand for medical lasers is expected to grow as the prevalence of various disorders increases. Ophthalmic is one of the major segments and its growth is driven by the rising incidence of cataracts/glaucoma/age-related macular degeneration (AMD). According to the CDC statistics, ~17% of the people over 40 years of age in the U.S. suffer from cataract conditions (~21 million population). The incidence of cataracts is projected to reach 30 million by 2028 in the U.S. Further, as per the International Agency for the Prevention of Blindness, the number of people suffering from age-related macula...

A biosimilar is a biological product which is similar to a reference biologic with no clinically meaningful differences in terms of potency, purity, and safety. Loss of patent protection for originator brands to drive the biosimilar market growth A key driver of biosimilar market growth over the next 5-10 years is the number of losses of protection (LoP) events for originator brands. In the US alone, 66 biologic U.S. patents are expiring between 2020 and 2025, owing to which the biosimilar market is on the cusp of a significant boost. Oncology is one of the major therapeutic areas in biosimilars market and by 2023, patents on nearly 20 oncology biologics will expire, which could lead to more biosimilars to enter in oncology space and propelling oncology biosimilars market . Consistent growth in the biosimilar approvals in the US biosimilars market The US biosimilars market is growing across multiple therapeutic areas. From 1 approval in 2015, the number of FDA approvals have in...

A virtual clinical trial (also known as remote/decentralized clinical trials) refers to digitally empowered clinical trial processes. The market growth is driven by growing adoption of virtual trials following outbreak of COVID-19 pandemic Virtual trials enable easy Patient Enrolment and Remote Monitoring Virtual trials are based on telemedicine and use dedicated apps for patient engagement and tracking. They greatly reduce the financial and time burdens. In addition, use of AI technologies can help synthesize and analyze  ever-expanding data and speed up the process. Such benefits are increasingly drawing interest of life science companies/clinical trials sponsors into virtual clinical trials. “AI likely to play important role in virtual clinical trials. Conversational AI for natural language processing (NLP) and image-based AI will increasingly become part of virtual trials. Conversational AI help maintain the patient-clinician engagement while imaging AI to play key role i...