Healthcare Interoperability Solutions Market worth $6.2 billion by 2027 - Exclusive Report by MarketsandMarkets™

 Growth in Healthcare Interoperability Solutions Market is driven by the increasing demand for efficient and cost-effictive healthcare delivery,  government initiatives towards improving the healthcare interoperability. However, the lack of true interoperability among electric systems, financial burden and technical difficulties in building and operations are some factors restraining the growth of the healthcare interoperability solutions market to a certain extent during the forecast period. The base year considered for the study is 2021, while, the forecast period is 2022 to 2027.

The report Healthcare Interoperability Solutions Market is projected to reach USD 6.2 billion by 2027 from USD 3.4 billion in 2022, at a CAGR of 12.9% during the forecast period.

 

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KEY MARKET DYNAMICS 

           1 DRIVERS

                   1.1 Increasing demand for efficient and cost-effective healthcare delivery

                   1.2 Government initiatives and regulations to enhance patient care and safety

                   1.3 Emergence of new medical technologies

                   1.4 Growing adoption of electronic health records

           2 RESTRAINTS

                   2.1 Lack of accurate interoperability solutions across healthcare supply chain

                   2.2 Lack of standards and protocols in IT businesses

                   2.3 Use of outdated legacy systems in hospitals and clinic chains

          3 OPPORTUNITIES

                   3.1 Growing markets for healthcare interoperability solutions in developing countries

                   3.2 Advancements in software technology for real-time data exchange

          4 CHALLENGES

                   4.1 Increasing complexity due to lack of consistent data

                   4.2 Shortage of skilled healthcare IT professionals

                   4.3 Patient data security and privacy concerns in healthcare industry

 

Market Segmentation:

·         On the basis of type: the services segment accounted for the largest share. The large share of this segment can be attributed to the advantages offered by the services such as installation, equipment updates or traditional licensing management are not required in case of services.

·         Based on end user: the healthcare providers segment is expected to register the highest CAGR during the forecast period. The growing geriatric population leading to the increasing hospital admissions is contributing to the growth of this segment.

 

Regional Analysis:

North America accounted for the largest share of the healthcare interoperability solutions market in 2021, followed by Europe and Asia Pacific. The rising demand for value-based healthcare, the need to reduce the increasing healthcare costs, and the implementation of favorable government initiatives & regulations in the region are the key factors responsible for the large share of North America in the healthcare interoperability solutions market.

Recent Developments

·         In November 2022, Nextge Healthcare (US) acquired TSI Healthcare (US) to expand its presence in key specialties, including rheumatology, pulmonology, and cardiology.

·         In October 2022, Lyniate (US) partnered with CyncHealth (US) to help healthcare providers and health networks, payers, and public health departments power more meaningful data exchange.

·         In September 2022, Lyniate (US) partnered with BrightInsight (US) to improve Information Exchange for Regulated Digital Health Solutions Built on the BrightInsight Platform.

·         In July 2022, Intersystem Corporation (US) partnered with Bedfordshire Hospitals NHS Foundation Trust to develop a new shared health and care record, which is being rolled out across Bedfordshire and Luton.

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Top Key Players: -

Some of the prominent players in this market are Cerner Corporation (US), Epic Systems Corporation (US), Infor, Inc. (US), Koninklijke Philips NV (Netherlands), InterSystems Corporation (US), Orion Health Group Limited (New Zealand), IBM Watson Health (US), Lyniate (US), Change Healthcare (US), NextGen Healthcare, Inc. (US), and Medical Information Technology, Inc. (US), iNTERFACEWARE (Canada), OSP Labs (US), ViSolve, Inc. (US), Jitterbit (US), Virtusa Corp. (US), and Summit Healthcare Services, Inc. (US).

Conclusion: -

In conclusion, the Healthcare Interoperability Solutions Market is poised for significant growth as healthcare organizations strive to improve patient outcomes through seamless data exchange and better care coordination. With advances in technology and increasing demand for interoperable systems, healthcare providers can expect to see increased efficiency, accuracy, and quality of care. The benefits of healthcare interoperability are far-reaching and can impact not only individual patient outcomes, but also the overall performance and sustainability of the healthcare system. The future of healthcare is centered on seamless integration and interoperability, and the Healthcare Interoperability Solutions Market is at the forefront of this revolution.

Respiratory Diagnostics Market worth $8.2 billion by 2029 - Exclusive Report by MarketsandMarkets™

 The integration of artificial intelligence and data analytics in respiratory diagnostics allows for more efficient analysis of complex data, aiding in early detection and personalized treatment plans. Global health emergencies, such as the COVID-19 pandemic, have emphasized the importance of respiratory diagnostics. The need for quick and accurate diagnostic tools during outbreaks can drive innovation and market growth. Government initiatives aimed at controlling and managing respiratory diseases, along with favorable healthcare policies, increased funding and support can facilitate the adoption of advanced diagnostic technologies. Advances in diagnostic technologies, including imaging techniques, molecular diagnostics, and rapid testing methods, enhance the accuracy and efficiency of respiratory diagnostics. Technological improvements often drive market growth by providing better diagnostic tools. Increased awareness about the importance of early detection and diagnosis of respiratory diseases among both healthcare professionals and the general population contributes to the growth of the respiratory diagnostics market. The cost associated with respiratory diagnostic tests, especially advanced imaging and molecular diagnostic techniques, can be a barrier to accessibility and adoption, limiting market growth, particularly in regions with resource constraints.

The report Respiratory Diagnostics Market is expected to reach USD 8.2 billion by 2029 from USD 5.6 billion in 2023, at a CAGR of 6.6%, during the forecast period.

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Market Segmentation:

"Instruments and Devices segment accounted for the largest share and is expected to grow at the highest rate during the forecast period."

The growing trend towards point-of-care testing (POCT) represents a paradigm shift in healthcare, significantly contributing to the growth of the instruments and devices segment. Portable respiratory diagnostic instruments, such as handheld spirometers, peak flow meters, and portable imaging devices, enable real-time assessment of lung function and conditions. The integration of point-of-care respiratory testing not only enhances diagnostic efficiency but also improves patient outcomes by facilitating faster initiation of appropriate interventions. This trend aligns with the broader healthcare goals of personalized and timely care, making respiratory diagnostic instruments and devices a pivotal component in addressing the evolving needs of healthcare delivery.

The escalating prevalence of respiratory disorders, particularly chronic obstructive pulmonary disease (COPD) and asthma, underscores the critical role of mechanical tests in assessing lung function. Mechanical tests, such as spirometry and peak flow test, play a fundamental role in evaluating lung function by measuring parameters like airflow, lung volume, and capacity. Given the chronic nature of respiratory diseases, early and precise diagnosis is essential for effective management and timely intervention. Mechanical tests enable healthcare professionals to objectively assess the severity of respiratory impairments, monitor disease progression, and tailor treatment strategies accordingly. As the burden of respiratory diseases continues to rise, the demand for mechanical tests is expected to grow.

"Asthma segment accounted for the largest share of the global respiratory diagnostics market."

Personalized asthma care is increasingly reliant on sophisticated diagnostic tools that consider individual patient profiles. Advanced diagnostics, such as molecular testing and biomarker analysis, enable healthcare professionals to delve into the specific genetic and molecular factors contributing to a patient's asthma. By understanding these intricate details, clinicians can formulate highly personalized and targeted treatment strategies. As a result, the asthma segment in the respiratory diagnostics market is poised for significant growth, driven by the increasing recognition of the value of personalized medicine in delivering more effective and patient-centric asthma care.

“Hospitals and clinics end-user segment held the largest market share growing at the highest CAGR during the forecast period of the respiratory diagnostics market.”

Hospitals and clinics are increasingly integrating respiratory diagnostics into routine care protocols. The seamless integration of respiratory diagnostics within hospitals and clinics ensures that diagnostic services are readily accessible to a broad spectrum of patients seeking routine or specialized care. This proactive approach not only facilitates early disease detection but also enables ongoing monitoring of respiratory health. Regularized diagnostic protocols become an integral part of patient care pathways, allowing for swift intervention and personalized treatment plans. As hospitals and clinics become primary hubs for respiratory diagnostics within routine care, the utilization of these services is expected to surge, propelling the growth of the respiratory diagnostics market.

Regional Analysis: -

“North America to witness significant growth during the forecast period.”

In 2022, North America held the largest market share for respiratory diagnostics market. The growing awareness of the significance of early detection and effective management of respiratory diseases has emerged as a significant factor propelling the utilization of respiratory diagnostics products and services in North America. Simultaneously, the general public's increased awareness has led to a shift in health-seeking behavior, with individuals becoming more proactive in seeking respiratory health assessments. Recognizing the potential impact of respiratory diseases on overall well-being, there is a collective effort to undergo diagnostic tests for early detection and timely intervention. Consequently, this heightened utilization of respiratory diagnostics not only leads to better patient outcomes through early identification and management of respiratory conditions but also serves as a driving force behind the growth of the respiratory diagnostics market in North America.

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Key Players

Some of the prominent players in the respiratory diagnostics market are Koninklijke Philips N.V. (Netherlands), BD (US), Abbott (US), Thermo Fisher Scientific Inc. (US), GE HealthCare (US), Bio-Rad Laboratories, Inc. (US), BioMérieux (France), Revvity, Inc. (US), Seegene Inc. (South Korea), Nihon Kohden Corporation (Japan), Vitalograph (UK), SDI Diagnostics (US), ResMed Inc. (US), Siemens Healthcare GmbH (Germany), Cosmed (Italy), Hologic, Inc. (US), Qiagen (Netherlands), Vyaire (US), Visby Medical, Inc (US), Briota Technologies Private Limited (India), Bird Healthcare (Australia), Löwenstein Medical Technology (Germany), ProAxsis (Northern Ireland), ndd Medical Technologies (US) and Compumedics Limited (Australia).

 

Global Trends Shaping the Future of the Surgical Retractors Market

 The increasing number of surgical procedures worldwide, the rising prevalence of chronic diseases along with a significant rise in the geriatric population and the availability of specialized retraction products are some of the key factors driving the market for surgical retractors.

The global report Surgical Retractors Market  is projected to reach USD 2.8 billion by 2027 from USD 1.9 billion in 2022, at a CAGR of 6.7%.

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Market Segmentation: -

Based on product, the global surgical retractors market is segmented into handheld retractors, self-retaining retractors, table-mounted retractors, wire retractors, and retractor accessories. In 2021, the handheld retractors segment accounted for the largest share of this market.

Based on usage, the surgical retractors market is segmented into tissue handling and dissection, and fluid swabbing. The highest growth of the tissue handling and dissection segment can be attributed to the increased handling of tissues, organs, and ligaments around the surgical area with the increasing number of surgical procedures globally.

Based on application, the surgical retractors market is segmented into abdominal surgeries, cardiothoracic surgeries, orthopedic surgeries, obstetric and gynecological surgeries, urological surgeries, aesthetic surgeries, head, neck, and spinal surgeries, and other surgeries.

Based on end users, the surgical retractors market is segmented into hospitals, clinics, and surgical centers, ambulatory care centers, and maternity and fertility centers. The ambulatory care centers segment is expected to register the highest growth during the forecast period due to the increased adoption of getting treated in ambulatory care settings due to the cost-effective treatment offered.

Regional Analysis: -

Asia Pacific is expected to witness the highest growth during the forecast period due to presence of high-growth markets such as India, China, and Japan, the implementation of favorable government initiatives, and rapid growth in the geriatric population, are some of the major factors that are expected to drive the growth of the surgical retractors market in the Asia Pacific region.

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Recent Developments:

• In 2022, Henry Schein acquired acquire Condor to expand its dental distribution business in Switzerland.
• In 2020, Henry Schein entered into an agreement with the Dentists Supply Company and this was aimed to form a new entity - TDSC.com, an online-only option for purchasing dental supplies that will serve the state dental association members.
• In 2019, Integra LifeSciences acquired Rebound Therapeutics to develop innovative products to address the unmet needs in neurosurgery.
• In 2019, Stryker Corporation acquired Mobius Imaging and Cardan Robotics to expand its presence in the orthopedics, spine, and neurotechnology divisions using advanced imaging and robotics as well as a wide product pipeline.

Top Key players

The prominent players in the surgical retractors market are Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), Integra LifeSciences (US), Teleflex Incorporated (US), Medtronic plc (US), Johnson & Johnson (US), Stryker Corporation (US), Henry Schein, Inc. (US), Sklar Surgical Instruments (US), Mediflex Surgical Products (US), Medline Industries, Inc. (US), Bausch Health Companies, Inc. (Canada), Thompson Surgical Instruments (US), BR Surgical, LLC (US), The Cooper Companies, Inc. (US), Innomed, Inc. (US), Terumo Corporation (Japan), Globus Medical, Inc. (US), Halma plc (UK), Enovis Corporation (US), CONMED Corporation (US), Olympus Corporation (Japan), Arthrex, Inc. (US), Applied Medical Resources Corporation (US), and LiNA Medical ApS (Denmark).

It's important to note that the surgical retractors market is closely tied to the overall healthcare industry, and its performance is influenced by various healthcare trends and factors, including technological advancements, regulatory changes, and healthcare spending. As the healthcare landscape continues to evolve, so too will the surgical retractors market.    

Digital X-ray Market: Technological advancements and product development

 The major factors driving the growth of Digital X-ray Market include the increasing geriatric population and growth in disease incidence as well as favorable government regulations, investments, and initiatives. The advantages of digital X-ray systems have played a key part in their adoption; their speed and accuracy, as well as quick processing times, allow for significantly higher patient screening volumes than earlier. This has pushed companies to focus on product development and innovation.

The global digital X-ray market is expected to reach USD 16.4 billion by 2026 from an estimated USD 11.1 billion in 2021, at a CAGR of 8.1% from 2021 to 2026.

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Market Segmentation: -

·         Based on technology, the market is segmented into direct radiography and computed radiography. The direct radiography segment commanded the largest share of the global market in 2020.

·         Based on portability, the digital X-ray market is segmented into fixed digital X-ray systems and portable digital X-ray systems. Fixed digital X-ray systems include floor-to-ceiling-mounted systems and ceiling-mounted systems, while portable digital X-ray systems include mobile X-ray systems and handheld X-ray systems.

·         The global digital X-ray systems market is divided into new and retrofit digital X-ray systems. The retrofit digital X-ray systems segment is expected to dominate the market during the forecast period.

·         Based on end users, the X-ray market is segmented into diagnostic centers, hospitals, and dental care centers. Hospitals are expected to dominate the market during the forecast period.

·         Based on applications, the market is segmented into general radiography, dental applications, fluoroscopy, cancer, and mammography applications. The general radiography segment is expected to dominate this market during the forecast period

Regional Analysis: -

The digital X-ray market is segmented into five major regions—North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest regional market for digital X-ray systems, whereas the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period.

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Recent Developments:-

• In March 2021, Koninklijke Philips N.V. (Netherlands) received US FDA 510(k) clearance for CombiDiagnost R90, a high-end digital radiography-based fluoroscopy system
• In August 2020, GE Healthcare (US) received FDA 510(k) clearance for Pristina Serena Bright, a contrast-enhanced mammography solution for biopsy
• In November 2018, Siemens Healthineers (Germany) introduced Multix Impact, a floor-mounted radiography system, at the Congress of the Radiological Society of North America (RSNA) in Chicago, US

Top Key Players: -

The digital X-ray market is dominated by Siemens Healthineers (Germany), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), FUJIFILM Holdings Corporation (Japan), and Canon, Inc. (Japan). The other leading market players include Carestream Health (US), Shimadzu Corporation (Japan), Hologic Inc. (US), Agfa-Gevaert Group (Belgium), Samsung Medison (South Korea), and Konica Minolta (Japan).

 

Pharmaceutical Filtration Market worth $26.2 billion by 2028

 Growth in the pharmaceutical filtration market can be attributed to factors such as rapid growth in the R&D and manufacturing of biopharmaceuticals, growing adoption of single use filters, new product developments by key market players, growing filtration scrutiny by regulatory bodies, and advanced development in nano fiber technologies. Despite this, issues such as membrane fouling, and the large capital investment required to set up new production facilities are expected to hinder market growth.

The report Pharmaceutical Filtration Market is projected to reach USD 26.2 billion by 2028 from USD 13.5 billion in 2023, at a CAGR of 14.2% during the forecast period of 2023 to 2028.

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KEY MARKET DYNAMICS: 

         

           1 DRIVERS

                   1.1 Growing biopharmaceutical industry

                   1.2 Rising R&D spending in pharmaceutical and biotechnology industries

                   1.3 Increasing adoption of single-use technologies

                   1.4 New product launches by leading market players

                   1.5 Increasing purity requirements in end-user segments

           2 RESTRAINTS

                   2.1 Membrane fouling issues

                   2.2 Requirement of high capital investments for new production facilities

           3 OPPORTUNITIES

                   3.1 Growth opportunities in emerging economies

                   3.2 Advances in nanofiber technology

           4 CHALLENGES

                   4.1 Increased cost and reduced speed and yield of filters

                   4.2 Survival of small players and new entrants

 

Market Segmentation: -

Based on products, the pharmaceutical filtration market is segmented into filters, systems, and other products. Filters segment accounted for the largest share of the pharmaceutical market, membrane filters are the key revenue contributors to this segment. Membrane filters are microporous plastic films with specific pore size ratings. These filters are used to separate contaminated particles from liquids. They are available in a variety of polymers, pore sizes, diameters, and surface types.

Based on technique, the pharmaceutical filtration market is segmented into microfiltration, ultrafiltration, nanofiltration, and other techniques. The other techniques segment includes reverse osmosis and ion exchange. The nanofiltration techniques accounted for the smallest market share of this market in 2022, and this can be primarily attributed to the limited retention for salts and univalent ions by nanofilters; nanofiltration membranes being comparatively more expensive than reverse osmosis membranes.

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Regional Analysis:-

Based on the region, the Pharmaceutical filtration market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific is estimated to be the fastest-growing segment of the market owing to the rapid technology development in nanofiber technologies, expanding manufacturing of generics, growing government budget for R&D, and growing biotechnology industries.

Recent Developments:

• In January 2023, Sartorius AG (Germany) and RoosterBio, Inc. (US) signed a collaboration deal to provide purification solutions and establish scalable downstream manufacturing processes for exosome-based therapies. Through this collaboration, Sartorius will provide its scalable filtration equipment, such as SartoflowSmart and Sartoflow Advanced, for the clarification, concentration, and formulation of exosomes.
• In June 2022, Donaldson Company Inc. (US) acquired Purilogics, LLC (US), an early-stage biotechnology company that manufactures membrane chromatography products. Through this acquisition, the company will have access to the purification tools for a wide range of biologics, including mRNA, plasmid DNA, viral particles, monoclonal antibodies, and proteins that Purilogics offers.

Top Key Players:

Key players in the drug discovery service Market include Merck KGaA (Germany), Danaher Corporation (US), Sartorius AG (Germany), 3M (US), Thermo Fisher Scientific Inc. (US).

Conclusion:

The pharmaceutical filtration market is undergoing rapid evolution, driven by technological advancements, regulatory imperatives, and industry shifts toward sustainability and efficiency. As drug formulations become more complex and personalized, filtration techniques must keep pace to ensure the safety and effectiveness of pharmaceutical products.

 

Sustainable Solutions: The Future of Animal Growth Promoters and Performance Enhancers

 Animal health products, including growth promoters and performance enhancers, are types of drugs and chemicals used for animal growth. These enhancers help to digest food more effectively and enable animals to grow faster, which, in turn, helps to improve productivity. Growth in the animal growth promoters and performance enhancers market is majorly driven by the rising demand for animal consumption and consumption of livestock-based products, rising global demand for naturally produced growth promoters, and rising animal epidemics and climate change. However, a ban on antibiotics in different nations and stringent regulations restricting the use of antibiotics and hormones for growth promotion in animals are expected to restrain the growth of the animal growth promoters and performance enhancers market during the forecast period.

The global Animal growth promoters and performance enhancers market is projected to reach USD 21.4 billion by 2026 from USD 16.2 billion in 2021, at a CAGR of 5.7%.

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MARKET DYNAMICS

           1 DRIVERS
                    1.1 Increase in demand and consumption of livestock-based products
                    1.2 Research for alternatives to antibiotics and hormones and increasing demand for non-antibiotic growth promoters
                    1.3 Rise in the global demand for naturally produced growth promoters
                    1.4 Rise in awareness about growth promoters
                    1.5 Rise in animal epidemics and climate change

           2 RESTRAINTS
                    2.1 Stringent regulations restricting the use of antibiotics and hormones for growth promotion in animals
                    2.2 Ban on antibiotics in different nations

           3 OPPORTUNITIES
                   3.1 Focus on increasing environmental sustainability

          4 CHALLENGES
                    4.1 Increasing global feed tonnage and high feed costs leading to the adoption of conventional feeding systems
                    4.2 Growing threat of disease transmission to and from agricultural animals

Market Segmentation: -

The non-antibiotic growth promoters and performance enhancers segment accounted for the largest share of the animal growth promoters and performance enhancers market in 2020. The large share of this segment can be attributed to the economic benefits of these products, the wide range of substances with applications in different production animals, environmental sustainability, and the increased number of regulations on antibiotics and hormones.

The poultry segment accounted for the largest share of the global animal growth promoters and performance enhancers market. The large market share of this segment can be attributed to the increasing demand for poultry meat and eggs, rising novel diet approaches, and increasing antibiotic phase-outs resulting in the development of alternatives.

Regional Analysis: -

Asia Pacific region accounted for the largest market share, followed by North America with a share in 2020. The large share of the Asia Pacific region can be attributed to the strong animal products industry in this region, huge population generating greater domestic meat demand, comparatively relaxed regulatory scenario, and government efforts to encourage animal producers.

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Top Key Players: -

Prominent players in the Animal Growth Promoters and Performance Enhancers Market include are Cargill, Incorporated (US), Royal DSM N.V. (Netherlands), Elanco Animal Health Incorporated (US), Boehringer Ingelheim Group (Germany), Merck & Co., Inc (US), Alltech Corporation (US), Archer-Daniels-Midland Company (ADM) (US), Vetoquinol S.A. (France), Bupo Animal Health Pty Ltd. (South Africa) and Novus International, Inc. (US).