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Hospital Supplies Market Surges at 3.7% CAGR to Hit US$ 42.3 Billion by 2032

The worldwide demand for hospital supplies is projected to exhibit a Compound Annual Growth Rate (CAGR) of 3.7% during the forecast period spanning from 2022 to 2032. In 2022, the hospital supplies market is poised to achieve an estimated valuation of US$ 29.5 Billion. Findings from the study indicate that hospitals maintained a significant market share of 47.2% in 2021 within the global hospital supplies industry.

According to WHO statistics, approximately 15% of all hospitalized patients suffer from these healthcare-associated infections. Rising prevalence of hospital-acquired infection results in prolonged hospital stay, disability and economic burden. Predisposing factors such as excessive antibiotic consumption and severe illness prevalence will lead to an increase in nosocomial infection rate, which will further push the usage of surgical kits, diagnostic kits and surgical consumables.

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The development of the hospital supplies market is reliant on the increasing adoption of sterile products, growing incidence of hospital-acquired infections and rising awareness about safe health and hygiene practices in developing countries.

“Rising awareness regarding medical sterilization and hygiene in developing nations, along with technological advancements hospital supplies will auger well for the growth in the market,” says an FMI analyst.

Key Takeaways:

Based on product type, the hypodermic and radiology products segment accounted for 17.6% of the total market in 2021, and demand is expected to increase at a 3.6% CAGR through 2032.

In terms of end-user, hospitals are expected to register a CAGR of 3.9% in the forthcoming years.

The U.S. is anticipated to dominate the North America hospital supplies market over the forecast period, accounting for a lion’s share.

Sales in the Germany hospital supplies market are slated to increase at a 3.5% CAGR over the assessment period.

Demand in the China hospital supplies market will grow at a 4.1% CAGR in the forthcoming years.

India will emerge as a lucrative pocket, with demand growing at a 4% CAGR through 2032.

Competition Landscape

The key players in the hospital supplies market are focusing on tapping market potential through entering into strategic mergers & acquisitions agreements. They are also improving their product portfolios to gain a competitive edge in the market. For instance:

In March 2021, Cardinal Health entered into a partnership with FourKites to improve the tracking of medical supplies and equipment’s along with pharmaceutical products, first aid supplies and personal protective equipment (PPE) kits in hospitals, pharmacies and other healthcare settings across the globe.

In December 2020, 3M launched its next generation of silicon adhesive tapes, the 2480 3M Single coated medical nonwoven tape with silicon adhesive liner. It offers more and secure adhesion, avoids trauma to patient skin and aids a longer wear time. Hence, rising incidents of hazardous situations and chronic disease prevalence will propel market growth in future.

Key Market Segments Covered in Hospital Supplies Industry Research By Product:

Sterilization Consumables

Wound Care Products

Dialysis Products

Infusion Products

Hypodermic & Radiology Products

Intubation & Respiratory Supplies

Surgical Procedure Kits & Trays

Blood Management & Diagnostic Supplies

General Disposable Products

By End User:

Hospitals

Ambulatory Surgical Centres

Clinics

Diagnostic Centres

Long Term Care Centres

Nursing Facilities

Alzheimer’s Therapeutics Market Size, Forecast to 2033 | FMI

In 2023, the worldwide Alzheimer's therapeutics market is poised to reach a valuation of US$ 3,052.3 million. Anticipating a robust growth trajectory, the demand for Alzheimer's therapeutics is expected to surge at a notable CAGR of 9.2%, aiming for an impressive US$ 7,359.7 million by the year 2033.

Alzheimer’s Therapeutics is the most common reason for progressive dementia in the elderly population. There has been an exponential rise in the number of cases of Alzheimer’s Therapeutics worldwide emphasizing the necessity for developing an effective treatment. According to Alzheimer’s Association, in 2016, an estimated 5.4 million Americans of all ages have Alzheimer’s disease.

The mortality rates due to Alzheimer’s Therapeutics are quite high. Between 2000 and 2013, deaths due to heart disease, stroke and prostate cancer decreased by 14%, 23% and 11%, respectively, while deaths from ALZHEIMER’S THERAPEUTICS increased by 71% in the U.S. Similarly, According to Alzheimer’s Therapeutics International in 2015, there are an estimated 46.8 million people worldwide living with dementia and is further expected to grow in future. Thus, there is an increase in the demand for Alzheimer’s therapeutics and diagnostics worldwide.

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Population ageing across the globe is a major factor driving the market for Alzheimer’s therapeutics and diagnostics. Rising life expectancy is contributing to quick increases in the number of the aged population. In addition, is associated with increased prevalence of chronic diseases like dementia.

Therapies for alzheimer’s therapeutics offer temporary and uncertain improvements in the well-being of individuals, and none of the approved drugs can modify the course of the disease Alzheimer’s Therapeutics cement. Thus, the magnitude of the affected population and the lack of suitable and effective treatment offers an incredible opportunity for drug manufacturers.

However, the identification of the primary reasons and mechanisms involved in alzheimer’s therapeutics is limited. Drug manufacturers have been unable to validate the significant clinical benefits of treatment for numerous new compounds due to strict regulations. One of the significant trends observed in this market is the collaboration of the existing players.

Precisely, diagnostic technology companies are carefully trying to bring about effective biomarker technologies to support and improve the drug development process for potential drug candidates, which is further expected to propel the demand.

Developing countries are expected to offer lucrative opportunities for this market. According to Alzheimer’s Therapeutics International in 2015, 58% of people with dementia live in developing countries, but by 2050 this will rise to 68%. The fastest growth in the elderly population is taking place in China, India, and their south Asian and western Pacific region.

According to World Alzheimer Report in 2015, regional estimations of dementia prevalence in people aged 60 years and over vary from 4.6% in Central Europe to 8.7% in North Africa and the Middle East, however, all other regional estimates fall in a relatively between 5.6% and 7.6%.

A list of Key Players Covered in the Alzheimer’s Therapeutics Market are:

AbbVie, Inc.

Teva Pharmaceuticals Ltd.

Eisai Co., Ltd.

Janssen Pharmaceuticals, Inc. (Johnson & Johnson)

Novartis AG

Zydus Lifesciences Ltd (CADILA)

Sun Pharmaceutical Industries Ltd.

Dr. Reddy’s Laboratories Ltd

Aurobindo Pharma Ltd

Amneal Pharmaceuticals Inc.

Macleods Pharmaceuticals Ltd.

Viatris Inc.

Lupin Ltd

Cipla Ltd.

Torrent pharmaceuticals ltd.

Unichem laboratories ltd

Lannett Inc.

Key Market Segments Covered in Alzheimer’s Therapeutics Industry Research

By Drug Name:

Donepezil

Rivastigmine

Memantine

Galantamine

Manufactured a combination of memantine and donepezil

By Drug Class:

Cholinesterase Inhibitors

NMDA Receptor Antagonists

Manufactured Combination

By Distribution Channel:

Hospital Pharmacies

Retail Pharmacies

Drug Stores

Online Pharmacies

Organ Preservation Market | Global Sales Analysis Report - 2032

By 2032, the Organ Preservation Market will be worth US$ 455 million, expanding at a compound annual growth rate of 6.4%. Organ preservation is the act of conserving healthy donor organs so they can be transplanted into the bodies of recipients. Static cold storage (SCS), which stops toxic metabolites from destroying healthy tissue, helps to sustain normal organ function following transplantation.

Organ Preservation Market Overview:

The act of keeping healthy organs after they have been removed from donors’ bodies is known as organ preservation. Without causing much harm, organs are removed from the donor’s body, transported, and then transplanted into the body of the recipient. The results of this study indicate that the adoption of organ preservation is directly impacted by the increased prevalence of chronic illnesses.

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Organ preservation for transplantation has a strong influence on donor organ quality, which has a direct impact on a patient’s morbidity and survival rates following transplantation. One of the major factors driving the growth of the organ preservation solutions market is the increasing prevalence of chronic illnesses, as well as the world’s growing elderly population.

Because of the increasing number of organ failures caused by diabetes, cardiovascular diseases (CVDs), obesity, and other serious medical problems, static cold storage organ preservation treatments are becoming more common. Innovative and sophisticated organ preservation strategies, such as NMP, act as a growth-inducing agent.

In clinical and experimental research, such strategies help to reduce the risk of reperfusion damage after transplantation and improve static cold storage organ preservation results. Furthermore, an increasing number of government and non-government regulations and activities to encourage organ donation are positively impacting the growth of the organ preservation solutions market.

The growing number of people who volunteer to donate their organs for transplantation and research is also propelling the market forward. Other factors, such as increased R&D and significant developments in the global organ preservation market, are expected to significantly contribute to market expansion.

Ask the Expert: Unlocking Insights from the Masters.

Key Takeaways:

A preservation injury occurs when the liver no longer functions. A liver transplant, also known as a hepatic transplant, has the potential to save someone’s life. A liver transplant may also be recommended by a doctor to a patient who has reached the end stage of liver disease.

Individuals who received a liver transplant had an 89% chance of survival after one year, according to an article published in the American Journal of Transplantation. The growing need for organ transplantation is propelling the global organ preservation market across the board.

According to the American Transplant Foundation, approximately 114,000 people in the United States are currently on the waiting list for a life-saving organ transplant. Every day, on average, 20 people die due to a lack of available organs for transplantation.

Competition Analysis:

The global organ preservation marketis dominated by companies such as Paragonix Technologies (US), XVIVO Perfusion AB (Sweden), Dr Franz Köhler Chemie GmbH (Germany), Essential Pharmaceuticals, LLC (US), TransMedics (US), OrganOx Limited (UK), 21st Century Medicine (US), Bridge to Life Limited (US), Waters Medical Systems (US), Preservation Solutions (US), Carnamedica (Poland), Transplant Biomedicals (Spain), Institut (Netherlands).

Key Market Segments Covered in the Study:

By Solution:

University of Wisconsin Solution (UW Solution)

Custodial HTK

Perfadex

Other Solutions

By Technique:

Static Cold Storage

Hypothermia Machine Perfusion

Normothermic Machine Perfusion

By Organ Type:

Kidney

Liver

Long

Heart

Pancreas

By End User:

Organ Transplant Centres

Hospitals

Speciality Clinics

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Molecular Quality Controls Market Forecast 2023 to 2033

According to the latest market research by FMI, the global Molecular Quality Controls Market is anticipated to reach US$ 204 million in value in 2023. Throughout the projected period, the market is anticipated to grow at a CAGR of 7.2%. The estimate is expected to surpass US$ 408 million by 2033.

The global molecular quality controls market is predicted to grow at a CAGR of 6.7%, from US$ 164 million in 2021 to US$ 226 million by 2026, according to a market research analysis by Future Market Insights.

The rising adoption of third-party quality controls, the growing number of accredited clinical laboratories, the rising demand for external quality assessment support, increasing government funding to support genomics projects, increasing demand for personalized medicines, declining sequencing costs, and the rising prevalence of infectious diseases, cancer, and genetic diseases are all driving molecular quality controls market forward.

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Due to the expanding global burden of various diseases, the number of laboratory tests performed has grown. The number of laboratories in both the public and private sectors is growing to satisfy this need. Setting up a quality control process in a clinical laboratory necessitates a large financial commitment. Laboratories must also have specialized people to supervise the quality control system.

Regardless of the number of tests completed, QC procedures entail equal expenses. As a result, the expense of implementing QC processes in clinical laboratories that perform modest quantities of diagnostic tests is prohibitively expensive. This, along with funding restrictions in many hospitals and laboratories in both developed and emerging economies, is projected to lead to a decreased adoption of quality-control techniques.

New multi-analyte and multi-instrument controls have been developed as a result of technological improvements. These cutting-edge controls combine many instrument-specific controls into a single control, allowing clinical laboratories to save money. In addition, these controls save time by eliminating the need for separate QC processes for each analyte.

In the next years, the increased availability of such molecular quality controls for infectious disease diagnostics and other applications is likely to drive market expansion.

Key Takeaways:

The Asia Pacific molecular quality controls market is expected to reach US$ 72.07 million in 2028 from US$ 34.27 million in 2021; it is estimated to grow at a CAGR of 11.2%.
The European molecular quality controls market is expected to reach US$ 109.59 million by 2028 from US$ 55.76 million in 2021; it is estimated to grow at a CAGR of 10.1%.
The growing implementation of genomic sequencing in healthcare systems is supported by substantial government investments, totaling over US$ 4 billion by at least 14 countries.

SeraCare and the International Quality Network for Pathology (IQN Path) (Luxembourg) announced a collaboration in June 2021 to develop, manufacture, and supply a range of highly characterised cell line genomic DNA and formalin-fixed, paraffin-embedded (FFPE) standards with confirmed low, mid, and high levels of mutational burden within their exome regions.
Bio-Rad and Roche Diagnostics (Switzerland) announced worldwide cooperation in May 2021 to supply clients with a comprehensive array of InteliQ devices and Unity QC data management systems, as well as customer training and support services.
Abbott Laboratories spent USD 2.4 billion in research and development in 2020, with USD 10.80 billion going toward producing technologically enhanced diagnostic devices to expand its product offering.

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Key Segments

  By Analyte:

Single-analyte Controls
Multi-analyte Controls

  By Product Type:

Independent controls
Instrument-specific controls

 By Application:

Infectious Diseases Diagnostics
Oncology Testing and Genetic testing

  By End User:

Diagnostic laboratories
Hospitals
IVD manufacturer & CROs
Academic & Research Institutes

Sepsis Diagnostics Market Size and Forecast to 2033 | FMI

Between 2023 and 2033, the market for Sepsis Diagnostics is anticipated to grow at a CAGR of 8.1%. The market is anticipated to be worth US$ 561.2 million in 2023. By 2033, the valuation is anticipated to surpass US$ 1.2 billion.

The sector is booming due to increased demand for antibiotic-resistant bacterial strains, an ageing population, and a high prevalence of hospital-acquired infection. Additionally, a spike in the proportion of product approvals for sepsis diagnosis is expected to promote demand for sepsis diagnostics.

However, factors such as a lack of experienced specialists for diagnosing sepsis, a lack of knowledge, and the adoption of conventional processes during antibiotic production hamper the sales of sepsis diagnostic.

Owing to the rise in newborn umbilical cord infection occurrences and the number of surgical procedures in these countries, developing markets provide a positive outlook for sepsis diagnostics.

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HAIs, also known as nosocomial infections, are a leading source of morbidity and mortality in hospitals around the world. Urinary tract infections, pneumonia, and sepsis are the most frequent hospital-acquired infections (HAIs). In addition, in immunocompromised individuals, aged patients, and people with chronic conditions, HAIs can cause sepsis. Because of the significant rise in HAIs around the world, demand for sepsis diagnostic devices is projected to expand in the future years.

Sepsis is a complex condition to detect, and even a one-minute delay in antibiotic delivery increases the chance of death by 7.6% in septic shock patients with hypertension. As a result of the emerging trends in the sepsis diagnostics market, there is a greater need for quick sepsis detection to avoid antibiotic therapy delays in sepsis patients.

Many sepsis diagnostic companies are growing their product offerings in point-of-care technologies, which can quickly identify sepsis, cut down on diagnosis time, and improve life expectancy after sepsis.

The global sepsis diagnostics market is predicted to reach US$ US$ 770 Mn by 2026.

Key Takeaways

Attributed to the presence of a larger consumer population in developing markets such as India and China, the Asia Pacific region of rapid sepsis diagnostics is expected to grow profitably over the forecast period.
The global sepsis diagnostics market adoption trends indicate North America is likely to generate more than $200 million in revenue by the end of 2026. The sepsis diagnostics companies in the region are growing due to well-established healthcare infrastructure and increased usage of innovative products. Septic poisoning is also one of the leading causes of death in the United States.
As per the sepsis diagnostics market analysis, microbiology technology is likely to gain traction. Microbiology is expected to generate more than $200 million in income by 2026.
By product, the sepsis diagnostics market opportunities are divided into blood culture media, assays & reagent kits, devices, and software. The blood culture media segment held the most significant market share during the forecast period. This growth can be ascribed to a rise in blood culture media as a sepsis diagnostics device.

“Sepsis diagnostics device are expensive, limiting the growth of this industry. Additionally, in certain countries, there are no clear guidelines for the treatment of sepsis, and there is a lack of awareness about the repercussions of sepsis if it is not treated effectively.”

Competitive LandscapeOrganizations in the global quality articulation market are consolidating and acquiring systems to gain a competitive advantage and generate significant profits. On the other hand, some players benefit from significant new work systems to gain a competitive advantage in the sepsis diagnostics market statistics.

Cytovale Inc. and the Biomedical Advanced Research and Development Authority, or BARDA, announced cooperation in April 2020 to increase the use of Cytovale’s Rapid Sepsis Diagnostic System for identifying sepsis in patients with probable respiratory infections, such as COVID-19.
Immunexpress announced a quick SeptiCyte, a one-hour molecular diagnostic test for sepsis, on Biocartis’ Idylla platform in Europe in October 2020. This is one of the first deeply integrated, immune response-based diagnostics to help clinicians diagnose sepsis and sepsis diagnostics market analysis.

Key Segments

By Product:

Blood Culture Media
Assays & Reagents
Instruments, and Software

By Technology:

Blood Culture
Immunoassays
Molecular Diagnostics
Flow Cytometry
Microfluidics
Biomarkers

By Method:

Automated Diagnostics
Conventional Diagnostics

By Pathogen:

Bacterial Sepsis
Fungal Sepsis
Viral Sepsis
Others

By Test Type:

Laboratory Tests
Point-of-Care Tests

By End User:

Hospitals and Specialty Clinics
Pathology & Reference Laboratories
Research Laboratories & Academic Institutes

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Recombinant Vaccines Market Trend, Share, Volume & Demand Forecast 2018-2028

A new Future Market Insights study on the global recombinant vaccines landscape highlights the optimistic revenue growth potential in developing regional markets such as Asia Pacific and Japan. The FMI report also offers an extensive analysis of the current competition scenario – emphasizing exclusive insights drawn by exhaustive primary and secondary market research.

Relatively safer and affordable, recombinant vaccines are gaining ground worldwide. With growing focus on preventive healthcare, vaccines are gathering momentum at a global level, including developing economies that still continue to struggle with severe demand-supply gap leading to a considerable shortfall in the availability of vaccines. However, many leading non-profit organizations are constantly initiating funding collaborations for improved accessibility of critical vaccines across developing countries.

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Key Dynamics Analysis Evaluates the Role of Collaborative Activities and R&D

On the backdrop of how Sanofi’s acquisition of protein Sciences in 2017 has been boosting the former’s Flubok (recombinant vaccines for flu) manufacturing capacity, several players in recombinant vaccines space are strategizing mutual alliances in coming years. Strategic collaborations between leading players in the recombinant vaccines space is likely to provide a strong impetus to the overall market growth.

Moreover, according to WHO, growing prevalence of rare disease instances such as Ebola, Crimean Congo, MERS, hemorrhagic fever, Marburg, Lassa Fever, Nipah, SARS coronavirus diseases, and Rift Valley Fever is attracting R&D interests of recombinant vaccines manufacturers, thereby pushing growth of the market soon

FMI Study Positions Western Europe as Growth Engine of Recombinant Vaccines Landscape

Western Europe currently represents just-under 1/3rd share of the global market revenue, attributed to growing government support for vaccine development and vaccination campaigns. Strong presence of key market players in this region and their increasing investments in R&D of recombinant vaccines further accentuate Western Europe’s top performing spot.

The report projects impressive growth prospects for Asia Pacific and Japan in coming years. However, APAC is especially portrayed lucrative owing to dramatically growing healthcare spending and an expanding target population that struggles with highly unmet clinical needs, despite growing consumer awareness about vaccination merits.

Mature regional markets in North America and Europe remain differentiated due to effective presence of leading biopharmaceutical companies that boast of GMP certified sterile manufacturing facilities, contributing significant towards the revenue growth of recombinant vaccines market in these regions.

Segmental Analysis Reveals Neck-on-Neck Competition between Subunit and Attenuated Vaccine Types

Based on the recombinant vaccines market assessment by type, subunit recombinant vaccines currently hold the largest value share but are likely to lose a bit of it to attenuated recombinant vaccines. Both the segments collectively cover around 90% share of the total market revenue.
Applications of recombinant vaccines in human vaccination continue to reflect maximum attractiveness over veterinary applications. A majority of the total market revenue is contributed by recombinant vaccines for humans, as indicated by the report.
Private clinics and dispensaries remain the most preferred channel for vaccines distribution, followed by pharmacies. Hospital pharmacies hold a larger share than retail pharmacies, though latter is poised for promising expansion in coming years.

Top Two Players Represent a Whopping 80% Market Value Share, Concludes Competition Analysis

According to the FMI study, GlaxoSmithKline plc and Merck & Co., Inc. collectively account for more than 80% revenue share in recombinant vaccines marketplace, keeping the landscape highly consolidated. While the former primarily focuses on strategic collaborations, the latter strategizes new product launches for an expanded market share.

GSK’s candidate vaccine launched in 2017 claims to prevent pulmonary TB in HIV negative adult patients.
Merck announced the three studies of the first phase of its investigational pneumococcal vaccine, early in 2018.

Competition tracking uncovers a few more important insights that can potentially direct strategy-building efforts of competitors in the recombinant vaccines market at a global level.

New market entry aspirants are prominently opting for the adoption of mammalian protein expression systems in recombinant vaccines manufacturing that accelerate the entire production process.
Established players in recombinant vaccines landscape are prioritizing the development of new variants of existing vaccines.
Contractual alliances with non-profit organizations are likely to earn higher profit shares for manufacturing leaders in recombinant vaccines market.

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