Healthcare Industry News

 The wound closure products market has garnered $6,540.1 million revenue in 2021. Moreover, it is projected to advance at a rate of 5.0%, to generate $10,148.7 million revenue in 2030. It is ascribed to technological advancements, increasing elderly population, rising incidence of diabetes, and surging healthcare expenditure.  In addition, the rising volume of surgical procedures, led by the increasing prevalence of chronic diseases, and the growing count of road accidents propel the industry size. Homecare Settings To Witness Fastest Growth Homecare settings will experience the fastest growth in the coming years, at a rate of 6%. It will be due to the worldwide increasing elderly population, rising adoption of home healthcare services, and growing usage of easy-to-use products.  Moreover, patients with accident wounds and diabetic foot ulcers need to be hospitalized for a long duration. It is usually difficult and costly and, thus, results in a high requirement for woun...

A number of factors such as the increasing cases of cancer, mounting healthcare expenditure, surging awareness regarding cancer and cancer treatment options, soaring preference for minimally invasive surgeries, and rising technological advancements in image-guided biopsy systems are expected to drive the aspiration and biopsy needles market at a CAGR of 7.2% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $801.5 million in 2019 and it is projected to reach $1,717.9 million by 2030. The aspiration and biopsy needles market is being driven by the surging cases of cancers across the world. According to the World Health Organization (WHO), in 2020, cancer accounted for approximately 10 million deaths. Breast, lung, colon and rectum, prostate, skin (non-melanoma), and stomach cancers were the most prevalent types of cancer in 2020. Different types of cancer are detected by biopsy and aspiration, which evaluates the nature of tumor by ta...

Personal protective equipment (PPE) refers to specialized equipment or clothing worn by frontline workers, including medical and sanitation workers, for protection against infectious diseases and materials. A standard PPE kit includes masks, gloves, face shields, gowns, head covers, shoe covers, goggles, respirators, and eye protection units. The kit prevents any contact with an infectious agent by creating a barrier between the healthcare worker and potential infectious material. Governments across the world have laid guidelines regarding the development of PPE to prevent work-related death, illness, and injury. With the outbreak of coronavirus (COVID-19), the requirement for PPE kits has exponential surged, as the virus has affected every corner of the world. The virus is still affecting millions of people and is straining healthcare resources of all countries by creating high demand for this protective gear. On account of the rising prevalence of COVID-19, the personal protective eq...

A number of factors such as the increasing incidence of burns, growing disposable income, burgeoning geriatric population, rising cases of road accidents, and growing prevalence of skin diseases will help the topical scar treatment market exhibit a CAGR of 7.7% during 2021–2030. According to P&S Intelligence, the market revenue stood at $701.6 million in 2020, and it will reach $1,451.1 million by 2030. In recent years, the burgeoning demand for silicone-based scar treatment products has become a prominent industry trend. The rising prevalence of burn injuries is one of the primary growth drivers of the market, as scars are often formed due to skin damage caused owing to burns. According to the WHO, approximately 180,000 burn-related deaths are caused every year, globally. Nearly two-thirds of these deaths are recorded in the African and SEA regions. As per an article published in the Experimental and Therapeutic Science Journal in April 2019, over 10 million people in China suffer...

 In 2021, the global DNA extraction kit market revenue was $1,354.4 million, which is predicted to reach $2,818.2 million by 2030, advancing at an 8.5% CAGR. The market growth can be primarily attributed to the surging research activities, for technological developments in forensic sciences and healthcare services, as well as the growing investments in molecular diagnostics, for a range of chronic and infectious diseases. The demand for user-friendly, accurate extraction kits as well as automated DNA extraction methods is rising. Additionally, it is expected that the applications of NGS and DNA in the profiling of viral infections would speed up the market growth in the years to come. The biggest end users in the DNA extraction kit market are healthcare facilities. Due to the rising need for timely and precise illness diagnoses, the category held a revenue share of over 50% in 2021. Even hereditary diseases, including Tay–Sachs disease, hemophilia A, and sickle cell disease, may be...

 The Bureau of Economic Analysis (BEA), the U.S. Department of Commerce, states that the personal disposable income of the U.S. populace increased from $17,595.7 billion in the third quarter (Q3) in 2020 to $18,174.1 billion in Q3 of 2021. Likewise, the Reserve Bank of India (RBI) states that the gross national disposable income of the people of India grew from INR 1,92,62,652 crore in the financial year (FY) 2018–2019 to INR 2,06,30,319 crore in the FY 2019–2020. The soaring disposable income of people is encouraging them to use advanced technologies to improve their physical experience.  Thus, the rising disposable income along with the growing geriatric population will help the facial skin ablative treatment market exhibit a CAGR of 7.8% during 2020–2030. According to P&S Intelligence, the market was valued at $4,134.6 million in 2019 and it will generate $8,394.3 million revenue by 2030. As aging causes wrinkles and fine lines, old people are one of the prominent user...

 The soaring production and trade of illicit drugs across the world are some of the biggest factors fuelling the demand for at-home drug of abuse (DOA) testing kits. As per the United Nations Office on Drugs and Crime (UNODC), the total amount of opium produced in Afghanistan was found to be 9,000 metric tons in 2017, registering a rise of 87.0% from the previous year. The land area under opium poppy cultivation recorded a 63% increase from 2016 to 2017, rising from 201,000 hectares to 328,000 hectares during that period. Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/at-home-doa-testing-market/report-sample The other important reason behind the rising usage of at-home DOA testing is the rising utilization of illicit drugs amongst teenagers throughout the world. As per the statistics provided by Centers for Disease Control and Prevention (CDC), tobacco, marijuana, and alcohol are the most common substances abused by adolescents across the glob...

 The rising prevalence of chronic diseases such as cancer and various rare diseases is pushing up the demand for gene therapy across the world. This is because gene therapies can treat various rare diseases, especially the ones that are caused because of genetics.  Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/gene-therapy-market/report-sample Similarly, the country witnessed a sharp rise in cancer mortality, from 595,690 to 606,880 from 2016 to 2019. This caused a huge upswing in the popularity of gene therapy in the country. At present, the advancement of the gene therapy industry is being affected by the high production costs, long lead times, high capital demands, and low production volumes. This is boosting the demand for automation in manufacturing operations, which helps companies overcome these constraints.  There are mainly two types of gene therapies performed namely in vivo and ex vivo. Between the two, the popularity of t...

 As per a report by P&S Intelligence, the Hong Kong wound dressing market reached a value of $38.9 million, and is projected to exhibit a CAGR of 5.9% during the forecast period (2020–2030). The major factors leading to the growth of the market are rising prevalence of diabetes, increasing incidence of traumatic injuries, and growing geriatric population. On the basis of type, the market is divided into traditional and advanced, between which, the advanced category dominated the market in 2019.   Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/hong-kong-wound-care-market/report-sample Advanced wound dressing is highly advantageous for traumatic injuries that are severe and need prompt medical attention to reduce the patient’s susceptibility to infections. Moreover, this dressing type regulate the moisture level and absorb exudate around the wound, and hence protects the wound base and the tissue around it. The advanced division is ...

Medical coding is being adopted at a large scale to deal with the frequent occurrence of insurance fraud in the healthcare industry. The increasing incidence of insurance frauds is leading to excessive financial losses. By using medical coding and billing standards, uniform checklists are generated that are to be cited when processing claims. Any irregularity in these checklists enables the concerned authority to spot frauds before the submission of the document to an insurance company. Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/medical-coding-market/report-sample Moreover, the soaring need to modernize hospital billing procedures will increase the medical coding market size from $15.2 billion in 2019 to $42.4 billion by 2030. According to P&S Intelligence, the market will progress at a CAGR of 9.6% during 2020–2030. Medical billing procedures have become more effective since the arrival of medical coding systems, particularly the Curren...