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Revolutionizing Patient Care: IoT's Influence on Healthcare in 2032
In 2022, the worldwide IoT in healthcare industry achieved an impressive sales valuation of US$181.4 billion. Forecasts indicate a remarkable upward trajectory, with an expected surge to US$952.3 billion by 2032, marked by a compelling compound annual growth rate (CAGR) of 18.0%. During 2021-2022, the market experienced a substantial year-on-year (Y-o-Y) growth rate of 20.7%, surpassing its previous worth of US$150.3 billion.
This phenomenal growth is driven by the increasing global emphasis on self-health management, exemplified by the widespread adoption of wearable medical devices for continuous health monitoring. Notably, Eversense and Dexcom have secured FDA certification for their innovative glucose monitoring devices, capable of monitoring sugar levels for extended periods, up to three months.
In addition, the introduction of the Zoll LifeVest 4000, a wearable defibrillator, is set to revolutionize arrhythmia monitoring for individuals of all ages, offering the crucial capability to diagnose sudden cardiac arrest. These advancements underscore the transformative impact of IoT technology in healthcare and its potential to improve lives worldwide.
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AI, ML, and NLP are also helping to analyse patients’ health issues. However, the inherent security dangers associated with IoT in healthcare must not be overlooked, as they may stymie business expansion. Future industry Insights’ recent industry analysis, named ‘IoT in Healthcare Industry,’ provides insights into these variables.
Key Takeaways from IoT in Healthcare Industry
North America has a sizable market share. This could be explained by a growing emphasis on health management throughout the United States.
Europe is likewise predicted to develop linearly, with the United Kingdom and France leading the way. This may be due to increased demand for telemedicine, mHealth, and EHRs (electronic health records).
The Asia-Pacific region is predicted to grow at the fastest rate in the IoT in healthcare market, led by South Korea, India, and China.
With countries focusing more on upgrading healthcare systems, LATAM is projected to pick up speed in the future. For example, in February 2020, many Brazilian ministries established a collaboration to integrate IoT systems in the healthcare sector.
Competitive Landscape
Microsoft Corporation announced in October 2020 that it had entered into a strategic relationship with ZEISS Group to improve patient care through data-driven healthcare solutions. The primary goal is to improve device management, treatment, and clinical workflow by utilising a revolutionary digitally connected approach.
In May 2019, General Electric Company teamed with NASSCOM to create and deliver digitised healthcare services and solutions in the market. The goal was to improve digital healthcare through the NASSCOM CoE-IoT (Centre of Excellence-Internet of Things) platform.
Medtronic, in January 2019, partnered with IBM Watson for providing IQcast. It’s a new-fangled feature of the existing product ‘Sugar.IQ’ for iOS mobile devices all across the US. This software claims to make available a hypoglycemic episode to patients for monitoring the low glucose level. It does work by predicting occurrence 1-4 hours prior.
Spencer Health Solutions and Royal Philips, in April 2019, started working towards expansion of their rapport for providing chronically ill patients in select EU nations with an in-home adherence to medication on Philips telehealth platform.
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“Connected devices are penetrating the healthcare vertical at an alarming rate. This factor is bound to take the IoT in healthcare market by storm in the forecast period”, says an analyst from Future Market Insights.
Key Players:
Apple Inc.
Cisco Systems Inc.
GE Healthcare Ltd.
Google (Alphabet)
International Business Machines Corporation
Medtronic PLC
Microsoft Corporation
Proteus Digital Health
Koninklijke Philips N.V.
QUALCOMM Incorporated
Abbot Laboratories
What is the IoT in Healthcare Industry Report up to?
Future Market Insights offers an exclusive perspective and various real-time insights on the IoT in Healthcare Industry in its latest study, presenting historical demand assessment of 2016 to 2021 and projections for 2022 to 2032.
The research study is based on component (IoT in healthcare hardware (portable diagnostic devices and non-portable diagnostic devices), IoT in healthcare software, and IoT in healthcare services), by application (telemedicine, medication management, clinical operations, patient monitoring, connected imaging, and likewise), by technology (Bluetooth-based, Wi-Fi-based, NFC-based, Zigbee-based, RFID-based, and others (Cellular, Satellite, Zwave, EnOcean)), and by end-user (hospitals, pharmaceuticals, and clinics & laboratories).
Numerous developed economies are increasingly shifting their preferences to electronic health record systems. This factor is actually expected to put the IoT in healthcare Industry on the top pedestal in the forecast period.
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Key Segments Covered in the IoT in Healthcare Industry Report
IoT in Healthcare by Component:
IoT in Healthcare Hardware
Portable Diagnostic Devices
Non-Portable Diagnostic Devices
IoT in Healthcare Software
IoT in Healthcare Services
IoT in Healthcare by Application:
IoT in Healthcare for Telemedicine
IoT in Healthcare for Medication Management
IoT in Healthcare for Clinical Operations
IoT in Healthcare for Patient Monitoring
IoT in Healthcare for Connected Imaging
Other IoT in Healthcare Applications
IoT in Healthcare by Technology:
Bluetooth-based IoT in Healthcare
Wi-Fi-based IoT in Healthcare
NFC-based IoT in Healthcare
Zigbee-based IoT in Healthcare
RFID-based IoT in Healthcare
Other IoT in Healthcare Technologies (Cellular, Satellite, Zwave, EnOcean)
IoT in Healthcare by End User:
IoT in Healthcare across Hospitals
IoT in Healthcare across Pharmaceuticals
IoT in Healthcare across Clinics & Laboratories
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Beyond Boundaries: Exploring the Antibody Discovery Market in 2034
The global antibody discovery market is anticipated to reach a valuation of US$ 7,652.2 million in 2024, driven by the increasing incidence of chronic diseases. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.2% between 2024 and 2034 and reaching a total valuation of approximately US$ 17,142.7 million by 2034.
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One of the major factors contributing to the growth of the market is the collaborations between pharmaceutical companies, biotechnology firms, and academic institutions, which have become more common, facilitating the pooling of resources and expertise for antibody discovery.
Research and development efforts are increasingly focused on multifunctional antibodies that can target multiple pathways or antigens simultaneously, expanding therapeutic possibilities. Antibodies play a crucial role in diagnostics, and the expansion of diagnostic applications, such as in the detection of biomarkers and infectious agents, contributes to the growth of the antibody discovery market.
Advances in understanding of immunology, particularly the role of antibodies in immune responses, drive the identification of novel targets and the development of antibodies for various therapeutic and diagnostic purposes.
Single cell antibody sequencing technologies enable the characterization of individual B cells, providing insights into diverse antibody repertoires and facilitating the discovery of rare and potent antibodies. Combinatorial antibody libraries, which involve the generation of diverse antibody variants, contribute to the identification of antibodies with improved binding affinity and therapeutic properties.
Increasing attention to pediatric medicine has led to the development of antibody therapies specifically designed for children, addressing the unique challenges and requirements in this patient population. The success of immunotherapies, especially in oncology, has prompted exploration into other therapeutic areas, such as autoimmune diseases and infectious diseases, broadening the application of antibody based treatments.
Key Takeaways from the Market Study
Global antibody discovery market was valued at US$ 7,158.3 million by 2023-end.
From 2019 to 2023, the market demand expanded at a CAGR of 8.4%.
The market in China is expected to expand at a CAGR of 10.5% through 2034.
By method, the phage display segment to account for a share of 41.0% in 2024.
From 2024 to 2034, antibody discovery market is expected to flourish at a CAGR of 7.2%.
By 2034, the market value of antibody discovery is expected to reach US$ 17,142.7 million.
"Increased understanding of the role of antibodies in neurological disorders has spurred research and development efforts to discover antibodies for conditions like Alzheimer's disease and multiple sclerosis" says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
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Competitive Landscape
Prominent players in the antibody discovery market are Danaher Corporation, Eurofins Scientific, Evotec, Twist Bioscience, Charles River Laboratories, Genscript Technology Corporation, Biocytogen, Sartorius AG, Fairjourney Biologics S.A, and Creative Biolabs, among others.
Recent Developments
In July 2022, Bio Techne executed a substantial acquisition, incorporating Namocell into its portfolio. The strategic move not only broadens the array of products of the company, but also diversifies its capabilities into gene therapy development, cell engineering, cell line development, single cell genomics, and antibody discovery.
In 2020, AbCellera announced a multi year strategic research collaboration and licensing agreement with Eli Lilly and Company for the discovery of antibodies targeting up to nine therapeutic targets selected by Lilly.
Market Dynamics and Predictions for Microparticle Injectables by 2031
According to the latest research by FMI, Microparticle Injectables are set to witness a steady-paced growth of CAGR 5.8% during the year 2021-2031. Microparticle Injectables are broadly used constituents of multi-particulate drug delivery systems, offering both technological and therapeutic advantages. The Global Microparticle Injectables market study provides critical information related to the global, regional and top players including Microparticle Injectables market share analysis, winning strategies, recent developments, and financial planning. Besides providing information regarding the key players in the Microparticle Injectables market, the study also recalibrates, the impact of macroeconomic and microeconomic factors that has the potential to impact the growth of the Microparticle Injectables market.
Over the past decade, healthcare sector has been expanding remarkably, following the advent of artificial Intelligence and the Internet of Things integrated medical devices. Advancement in technology has created impressive scope within the medical sector for diagnostics and therapeutics.
Understanding the Impact of Covid-19 on Healthcare Industry
With the pandemic plaguing maximum countries across the globe, healthcare industry is witnessing its fair share of ‘ups and downs’. The COVID-19 has placed an enormous strain on the healthcare sector’s workforce, facilities and infrastructure. Despite the endless pressure, healthcare sector is growing at a moderate pace due to the improvement in infrastructure and advancement in technology, healthcare sector is delivering a healthy performance.
The FMI’s latest report on the Microparticle Injectables market gives a detailed analysis on the impact of COVID-19 with an incisive coverage on the innovative strategies adopted by the market players to survive the challenges due to pandemic.
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Report Highlights:
Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.
Competitive Analysis
By Prominent Market Players
Lubrizol Life Science
Baxter International Inc
Sandoz
Eli Lilly and Company
Pfizer Inc.
Evonik
Oakwood Labs and GP Pharm.
With an extensive SWOT analysis, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of each player. The report also includes important data including the sales strategy, pricing strategy, and marketing strategy adopted by these players in the Microparticle Injectables market
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Microparticle Injectables Market: Segmentation
By Therapeutic Application:
Chronic Diseases
Autoimmune Diseases
Hormone Related Disorders
Oncology
Others
By Administration Site:
Central Nervous System
Skin
Musculoskeletal
Targeted Organs
By Distribution Channel:
Medical Hospital Pharmacy
Retail Pharmacy
By Region:
North America
Latin America
Europe
South Asia
East Asia
Middle East and Africa
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Delving into the Future: Fire Rated Cables Market Projections
Future Market Insights (FMI), a premier provider of market intelligence and consulting services certified by ESCOMAR, unveils a comprehensive analysis of the global fire rated cables market. This thriving market, valued at US$ 1,802.6 million in 2023, is poised to reshape fire safety strategies across industries. Fueled by a range of applications and expanding industrial importance, fire rated cables are projected to witness substantial growth with a robust Compound Annual Growth Rate (CAGR) of 3.7% between 2023 and 2033. By 2033, the market is anticipated to reach a substantial valuation of US$ 2,592.2 million.
Overcoming Fire Hazards: Attributes of Fire Rated Cables
In the realm of fire tragedies, overcoming heat, toxic fumes, and smoke is paramount for safe evacuations. Fire rated cables, distinguished by their fire resistance, low toxic gas combustion, and smoke attributes, play a crucial role in maintaining circuit integrity during a fire. Their flame retardant properties, ease of installation, cost-effectiveness, and lack of halogen gases further enhance their appeal.
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Market Growth Drivers and Restraints
The market's trajectory is propelled by a multitude of factors. The rapid expansion of the global construction sector, particularly in the commercial and office building segments, has driven the demand for sustainable building materials, including fire-rated electric systems. Modern commercial spaces are mandated to comply with green building codes, driving the adoption of fire-rated cables.
Moreover, the emphasis on workplace safety in key regions like Europe, North America, and the Asia Pacific has spurred demand for secure electric supply channels in factory facilities, boosting the adoption of fire rated cables. However, challenges such as high initial costs and complex installation procedures might act as temporary restraints.
Regional Insights: Leading the Fire Safety Revolution
The North American region is projected to spearhead the global fire rated cables market, thanks to stringent government safety mandates and regulations. The region accounted for a substantial 22% share of the global market, driven by the need for enhanced fire-resistant building structures. Abundant raw materials, established commercial channels, and prominent manufacturers in North America are expected to provide a fertile ground for market expansion.
Innovative Strategies Shaping the Market Landscape
Market players are capitalizing on diverse strategies to engage potential buyers and expand their customer base. Bhuwal Insulation Cable Private Limited (BICPL), founded in 2005, offers an array of Ceramic Yarn Insulated High-Temperature Cables. Axmon, established in 2016 by Michael T. Suffredini and Kam Ghaffarian, achieved its first spaceflight in 2022 and recently introduced a fire-rated Axmon extension cord with two outlets and two USB ports.
Top 10 Key Players:
• Prysmian Group
• Nexans S.A
• Elsewedy Electric
• TPC Wire & Cable Corp.
• Relemac Technologies Pvt. Ltd.
• RR Kabel
• RSCC Wire and Cable
• FirstFlex
• Cleveland Cable Company
• Universal Cable (M) Berhad
Key Segments of Fire Rated Cables Industry Survey
Fire Rated Cables Market by Construction:
• Single Core Fire Rated Cables
• Multicore Fire Rated Cables
Fire Rated Cables Market by Type:
• Unarmored Fire Rated Cables
• Armored Fire Rated Cables
• Braided Fire Rated Cables
• Other Fire Rated Cable Types
Fire Rated Cables Market by Application:
• Fire Rated Cables for Residential Applications
• Fire Rated Cables for Commercial Applications
• Fire Rated Cables for Industrial Applications
Fire Rated Cables Market by Region:
• North America Fire Rated Cables Market
• Latin America Fire Rated Cables Market
• Europe Fire Rated Cables Market
• East Asia Fire Rated Cables Market
• South Asia & Oceania Fire Rated Cables Market
• Middle East & Africa Fire Rated Cables Market
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