Medication Adherence Global Market Report 2023 – By Medication (Cardiovascular, Central Nervous System, Diabetes, Oncology, Respiratory, Gastrointestinal, Rheumatology, Other Medications), By Type (Hardware Centric, Software Centric), By Application (Hospital, Retail Pharmacies, LongTerm Care Facilities, MailOrder Pharmacies) – Market Size, Trends, And Global Forecast 2023-2032

Hardware Support Services Market Definition

The hardware support services market consists of sales of hardware support services and related goods by entities (organizations, sole traders and partnerships) that provide hardware support services including computer and peripherals support services, storage and servers support services, networking support services and others. These are preventive and remedial services that physically repair or optimize hardware, including basic installation, contract maintenance and per-incident repair, both on-site and at a centralized repair depot. Hardware support also includes telephone technical troubleshooting and assistance for setup and all fee-based hardware warranty upgrades.

Medical billing outsourcing services are services in which a healthcare provider hires a medical billing service provider outside their practice to do all the billing. The main types of services in medical billing outsourcing are the front end and back end. The front-end is in charge of the patient experience, while the back-end is in charge of claims processing and reimbursement. To push income across the cycle, each component has its own departments, people, and policies. The different components include in-house, and outsourced and are used by various sectors such as hospitals and physician offices. The global medical billing outsourcing market is segmented - 1) By Service: Front End, Back End 2) By End User: Hospitals, Physician Offices 3) By Component: In-house, Outsourced The global medical billing outsourcing market size grew from $13.56 billion in 2022 to $15.12 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical billing outsourcing market is expected to grow from $23.76 billion in 2027 at a CAGR of 12.0%. The rising need for error minimization contributed to the growth of the medical billing outsourcing market. It is estimated that, in the US, 80% of medical bills contain errors. For instance, Equifax, a credit agency firm, found in its audit that hospital bills ranging above $10,000 have an average error amount of $1,300. It is also estimated that doctors lose around $125 billion each year due to poor billing practices in the USA. The rising need for error minimization and optimization of the billing process drove the medical billing outsourcing market. Major players in the medical billing outsourcing market are Experian Information Solutions, Cerner, Kareo, GE Healthcare, Genpact, Quest Diagnostics, McKesson, EClinicalWorks, The SSI Group, HCL and Allscripts. The variable cost charged in the medical billing services by the service provider is expected to limit the medical billing outsourcing market. According to the Medical Billing Service Review, there is a price for every service provided by medical billing service providers. The charge on the billing services is a percentage ranging between 3% to 10% per bill indicating more the number of patients, more the hospital or clinic should pay to the service providers. The variable cost in the medical billing services has a negative impact on the medical billing outsourcing market. The medical billing service providers are expanding their service through cloud-based medical billing software and Electronic Health Record (EHR) services. Cloud-based medical billing software provides more security with the patient details compared to the alternatives and companies are launching cloud-based software to provide enhanced security to their clients. For instance, in 2021, Epic Systems, a US based software company providing cloud-based medical software that may be used by a wide range of practice kinds and sizes. With built-in EHR, medical billing and coding, patient management features, and more, their platform provides complete Revenue Cycle Management (RCM) capability. In June 2020, R1 RCM, a US-based healthcare revenue management cycle company serving hospitals and physician groups, agreed to acquire Cerner RevWorks for a deal amount of $30 million. The acquisition is expected to extend the comprehensive revenue cycle capabilities of R1 and help drive sustainable financial improvements for healthcare providers and to enhance their patients’ overall experience. North America was the largest region in the medical billing outsourcing market in 2022. Western Europe was the second largest region in the global medical billing outsourcing market analysis. The regions covered in the global medical billing outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the medical billing outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical billing outsourcing market includes revenues earned by entities by providing Medical Billing Services, medical coding services, patient demographic entry, submission of claims, medical coding analysis services, and ASC billing services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain or as part of other products. The medical billing outsourcing market research report is one of a series of new reports from The Business Research Company that provides medical billing outsourcing market statistics, including medical billing outsourcing industry global market size, regional shares, competitors with a medical billing outsourcing market share, detailed medical billing outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the medical billing outsourcing industry. This medical billing outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A medication management system refers to managing patients' data in the system because of the rising number of clinical practices and lengthy prescription times. The medication management system market consists of sales of medication management system solutions by entities (organizations, sole traders, and partnerships) that are used for tracking and validating the medicines administered to patients during medical care, reducing dispensing errors, and improving operational efficiency. A medication management system refers to managing patients' data in the system because of the rising number of clinical practices and lengthy prescription times. The medication management system is an automated software solution that provides and manages the administration of medicines to patients. The global medication management system market is segmented - 1) By Product Type: Computerized Physician Order Entry, Clinical Decision Support System Solutions, Electronic Medication Administration Record, Inventory Management Solutions, Other Product Types 2) By Mode of Delivery: Web-Based, Cloud-Based, On-Premise 3) By End Users: Pharmacies, Hospitals, Other End Users The global medication management system market size grew from $2.39 billion in 2022 to $2.9 billion in 2023 at a compound annual growth rate (CAGR) of 21.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global medication management system is expected to grow to $5.9 billion in 2027 at a CAGR of 19.5%. An increase in medical costs is expected to propel the growth of the medication management system market going forward. Medical costs refer to the cost incurred by the individual while taking medical treatment and also the cost incurred by the hospitals on buying their equipment and maintenance. Medical management systems are being adopted by hospitals because they are effective at reducing costs and increasing efficiencies. For instance, according to the Center for Medicare & Medicaid Services, a US-based government agency for health and human services, in the United States, the National Health Expenditure (NHE) grew by 9.7% to $4.1 trillion in 2020, and this comprises medical spending that grew by 3.5% to an amount of $671.2 billion in 2020. In addition, national health spending is expected to reach $6.2 trillion by 2028. Therefore, the increase in medical costs is driving the growth of the medication management systems market. Major players in the medication management system market are Allscripts Healthcare LLC, ARxIUM, Cerner Corporation, Becton Dickinson and Company, Omnicell Inc., GE Healthcare, Talyst LLC, McKesson Corporation, QuadraMed Affinity Corporation, Siemens Healthcare Private Limited, Genoa Healthcare, Optum Inc., Wiegand AG, Nexus AG, Cardinal Health, Swisslog Healthcare, Hospira Inc., Baxter International Inc., B.BraunMelsungen AG, Epic Systems Corporation, and BIQHS. New product innovations are the key trend gaining popularity in the medication management system market. Major companies operating in the medication management systems sector are focused on introducing innovative products to sustain their position in the market. For instance, in 2021, Omnicell Inc., a US-based company that provides medication management solutions and healthcare technology tools, launched Omnicell One, which helps to control medication inventory spending, reduce medication waste, improve patient safety, and manage drug diversion. This system automatically updates the medicine and drug status to the system along with their availability and the number of units used. In April 2020, Becton and Dickinson, a US-based medical technology company, acquired GSL Solutions Inc. for an undisclosed amount. Through this acquisition, Becton and Dickinson would develop smart medication devices to store and track controlled substances and patient-specific medications. Also, the deal would help to meet retail pharmacies’ needs. GSL Solutions, Inc. is a US-based company that develops smart medication devices for medication management. North America was the largest region in the medication management system market in 2022. The regions covered in the medication management system market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the medication management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medication management system market consists of sales of web-based ordering systems, perpetual inventory systems, automatic dispensing systems, medication ordering, reporting systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The main types of products in medication management systems are computerized physician order entry, clinical decision support system solutions, electronic medication administration records, inventory management solutions, and others. Computerized Provider Order Entry (CPOE) refers to the process of providers entering and sending treatment instructions, which includes medication, laboratory, and radiology orders. The various delivery modes include web-based, cloud-based, and on-premise. The various types of end-users include pharmacies, hospitals, and others. The medication management system market research report is one of a series of new reports from The Business Research Company that provides medication management system market statistics, including medication management system industry global market size, regional shares, competitors with a medication management system market share, detailed medication management system market segments, market trends and opportunities, and any further data you may need to thrive in the medication management system industry. This medication management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Healthcare provider network management provides a point for access to information about health insurance plans, government regulations and processes, pricing, and other data within the healthcare organization. The main types of components in the healthcare provider network management market are network management services and network management software. The network management services market refers to services used to provide access to plans of patient care, pathology report results, and medical and pharmacy claims utilization data. The network management services refer to network maintenance, monitoring of devices, and monthly report status. The various deployment types include on-premises and cloud, and the end users are private payers and public payers. The global healthcare provider network management market is segmented - 1) By Component: Network management services, Network management software 2) By Deployment Type: On-Premises, Cloud 3) By End User: Private Payers, Public Payers The global healthcare provider network management market size grew from $3.37 billion in 2022 to $3.94 billion in 2023 at a compound annual growth rate (CAGR) of 16.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The healthcare provider network management market size is expected to grow to $7.07 billion in 2027 at a CAGR of 15.7%. The rising patient population is expected to propel the growth of the healthcare provider network management market going forward. The patient population refers to individuals living with certain medical conditions and illnesses. With the increasing patient population, the patient flow to hospitals also increases. Healthcare provider network management helps providers monitor patient records to predict hospitalization and readmission and enables them to manage care-management programs. For instance, according to the American Hospital Association, a US-based organization that represents all types of hospitals and health care networks' 2020 Annual Survey, over 33.35 million hospital admissions were registered in the US during 2020. Therefore, the rising patient population is driving the growth of the healthcare provider network management market. Major players in the healthcare provider network management market are Optum Inc., Atos SE, Cognizant, Symphony AyasdiAI, Infosys Technologies Limited, Change Healthcare Inc., SkyGen, McKesson Corporation, Centene Corporation, OSPLabs, Virtusa Corporation, Appian Corporation, Salesforce Inc., Evolent Health Inc., and Coforge. Technological advancement is the key trend gaining popularity in the healthcare provider network management market. Major market players are concentrating their efforts on creating innovative technologies to sustain their position in the market. For instance, in March 2021, Innovaccer Inc., a US-based digital healthcare company, launched a provider network management solution that is powered by the Innovaccer health cloud and an integrated platform to assist healthcare payers to enhance provider network performance, data collection, and analysis. Payers can educate and reach out to providers as well as offer services such as point-of-care alerts to improve quality scores, the total cost of care, and member health value. In January 2022, Centene Corporation, a US-based managed care company, acquired Magellan Health Inc. for a deal amount of $2.2 billion. This acquisition will help Centene Corporation to increase its behavioral and specialty healthcare service portfolio and integrate healthcare solutions for patients at lower medical costs. Magellan Health Inc. is a US-based provider network management organization. North America was the largest region in the healthcare provider network management market in 2022. The regions covered in the healthcare provider network management market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the healthcare provider network management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The healthcare provider network management market includes revenues earned by software and services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The healthcare provider network management market research report is one of a series of new reports from The Business Research Company that provides healthcare provider network management market statistics, including healthcare provider network management industry global market size, regional shares, competitors with a healthcare provider network management market share, detailed healthcare provider network management market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare provider network management industry. This healthcare provider network management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Software consulting refers to the process of determining a company's software requirements and developing technology to support a company's operations. It enables IT specialists to offer insightful commentary on software and e-commerce. It is helpful to discuss about the software used at work because it may assist them comprehend crucial software upgrades or practical technology that employees may use. The main types of software consulting services are Enterprise Solutions, Application Development, Migration and Maintenance Services, and Design Services. Major enterprise solutions include ERP, CRM, EAM, and CMS. By enterprise size, the market is segmented into large enterprises and small and medium enterprises. Major end-use industries for software consulting services include automotive, education, government, healthcare, IT and telecom, and manufacturing. The global software consulting market is segmented - 1) By Type: Enterprise Solutions, Application Development, Migration and Maintenance Services, Design Services 2) By Enterprise Size: Large Enterprise, Small & Medium Enterprise 3) By End-Use Industry: Automotive, Education, Government, Healthcare, IT and Telecom, Manufacturing The global software consulting market size will grow from $229.38 billion in 2022 to $251.86 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the software consulting is expected to grow to $365.75 billion in 2027 at a CAGR of 9.8%. The increase in adoption of cloud computing by enterprises is the key factor contributing to the growth of the software consulting market. Enterprises are increasingly adopting the latest technologies, such as cloud computing, to increase productivity and efficiency. As of 2020, the cloud services industry was valued at about $200 billion, and most organisations are expected to increase their cloud spending budget by about 50%. So, the growing adoption of cloud computing is driving demand for software consulting services market growth. Major players in the software consulting market are Cap Gemini, Atos SE, Oracle, Accenture, IBM Corporation, Deloitte Touche Tohmatsu Limited, CGI Group Inc., Cognizant, Ernst & Young Global Limited, and SAP SE. Remote consulting services are a key trend in the software consulting market. Software consulting companies are increasingly offering consulting services remotely in response to the COVID-19 pandemic and to improve their efficiencies. Virtual consulting is likely to become widespread going forward as well. Major IT consulting companies such as IBM, Oracle, and Accenture are offering virtual and remote consulting services. In December 2021, Accenture plc, an Ireland-based information technology services and consulting acquired Headspring, LLC for an undisclosed amount. Through this acquisition, Accenture plc aims to strengthen its cloud business and gain a competitive advantage in cloud-native capabilities. Headspring, LLC is a US-based software and consultancy firm. North America was the largest region in the software consulting market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the software conuslting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the Software Consulting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The software consulting market includes revenues earned by entities by developing a website, creating a mobile app, and updating e-commerce systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The software consulting research report is one of a series of new reports from The Business Research Company that provides software consulting statistics, including software consulting industry global market size, regional shares, competitors with software consulting shares, detailed software consulting segments, market trends and opportunities, and any further data you may need to thrive in the software consulting industry. This software consulting research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Software defined data center (SDDC) refers to a data storage facility where networking, storage, CPU, and security are all virtualized and offered as a service. SDDCs are similar to a traditional data centers, with some prominent differences, specifically through their use of abstraction, virtualization, automation, and resource pooling. The main types of the software defined data center are software-defined computing (SDC), software-defined storage (SDS), software-defined data center networking (SDDCN) and automation and orchestration. Software defined computing refers to an integrated abstraction layer that portrays the computing environment as a collection of physical and virtual resources that may be dynamically assembled into services by users. Hardware, software and services are the components of the software defined data center. The software defined data center are used by small, medium and large-scale enterprises in banking, financial services and insurance (BFSI), information technology (IT) and telecom, government and defense, healthcare, education, retail, manufacturing and other industries. The global software defined data center market is segmented - 1) By Type: Software Defined Computing (SDC), Software-Defined Storage (SDS), Software-Defined Data Center Networking (SDDCN), Automation and Orchestration 2) By Component: Hardware, Software, Services 3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large enterprises 4) By Vertical: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecom, Government And Defense, Healthcare, Education, Retail, Manufacturing, Others Verticals The global software defined data center market size will grow from $53.37 billion in 2022 to $65.53 billion in 2023 at a compound annual growth rate (CAGR) of 22.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the software defined data center is expected to grow to $149.09 billion in 2027 at a CAGR of 22.8%. The growing adoption of digitalization is expected to be a significant driver for the growth of the software defined data center market. The adoption of digitalization is increasing due to the need for increased productivity, lowering operational costs, enabling faster decision-making, increasing efficiency, technological advancements, push towards digitalization from stakeholders, and others. The increasing adoption of digitalization will generate a huge amount of data that needs to be stored, driving the need for software defined data centers. This need for data centers will create a huge demand for data center services to set up, manage, and operate data centers. For instance, according to a survey conducted among 1,200 CXOs and decision-makers in 9 countries by Fujitsu and published in August 2021, during the pandemic, 82% of respondents from offline organizations had accelerated the digital transformation into their business. During the pandemic, digital became the default mode of living and working, making the organizations adapt to digitalization by creating remote work environments and digitalizing customer services. Therefore, the growing adoption of digitalization will drive the software defined data center market growth. Major players in the software defined data center market are VMware Inc., Microsoft Corporation, Hewlett Packard Enterprise Company, Dell Technologies, Oracle Corporation, IBM, Nutanix, Cisco Systems Inc., Huawei Technologies Co Ltd., Fujitsu Ltd., Arista Networks, Citrix Systems Inc., NEC Corporation, Hitachi Vantara LLC, SAP SE, EMC Corporation, NetApp Inc and Lenovo. Growing adoption by hyper-scale cloud is a major trend in the software defined data center market. Hyper-scale is about massive scale in computing, typically for big data or cloud computing. Hyperscale infrastructure is designed for horizontal scalability and leads to high-performance levels, throughput, and redundancy to enable fault tolerance and high availability. Hyperscale computing often relies on massively scalable server architectures and virtual networking. Hyperscale cloud solutions deliver the most cost-effective approach to addressing demanding requirements. For instance, in June 2021, Singapore's sovereign wealth fund GIC private ltd (Government of Singapore Investment Corporation) and Equinix, a US-based company specializing in internet connection and data centers, agreed to invest $3.9 billion to build hyper-scale data centers. In May 2022, Broadcom Inc., a US-based semiconductor and infrastructure software product manufacturer, acquired VMware, Inc for $61 billion. This acquisition will provide enterprise customers with a broader range of essential infrastructure solutions, accelerating innovation and addressing the most intricate information technology infrastructure requirements. The combined solutions will give more options and flexibility to build, run, manage, connect, and protect applications at scale across varied, distributed environments, wherever they run: from the data center to any cloud and edge computing. VMware, Inc is a US-based cloud computing and virtualization technology company. North America was the largest region in the software defined data center market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the software defined data center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the software defined data center market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The software defined data center (SDDC) market includes revenues earned by entities by providing data storage solutions that enable central, cloud management for running, managing, and securing applications. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The software defined data center market research report is one of a series of new reports from The Business Research Company that provides software defined data center market statistics, including software defined data center industry global market size, regional shares, competitors with a software defined data center market share, detailed software defined data center market segments, market trends and opportunities, and any further data you may need to thrive in the software defined data center industry. This software defined data center market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Dry eye medication refers to the drugs or medication that is used to treat dry eye by increasing your eye moisture. A multifactorial condition of the tears and ocular surface known as dry eye causes symptoms such as pain, blurred vision, and tear film instability, as well as the possibility of ocular surface injury. The main types of dry eye medication are aqueous dry eye syndrome and evaporative dry eye syndrome. Dry eye syndrome is a frequent problem that arises when the tears aren't able to keep the eyes lubricated enough. Tears may be insufficient and unstable for a variety of causes. The different types of products include liquid drops, gel, liquid wipes, and eye ointment and are used by hospital pharmacies, eye health clinics, retail pharmacies, and online pharmacies. The global dry eye medication market is segmented - 1) By Type: Aqueous dry eye syndrome, Evaporative dry eye syndrome 2) By end-user: Hospital Pharmacies, Eye Health Clinics, Retail Pharmacies, Online Pharmacies 3) By Product Type: Liquid Drops, Gel, Liquid Wipes, Eye Ointment The global dry eye medication market size will grow from $8.67 billion in 2022 to $9.62 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global dry eye medication is expected to grow to $13.99 billion in 2027 at a CAGR of 9.8%. The increased number of cases of dry eye disease results in an increased demand for its treatment. Factors such as aging, lack of vitamin A, wearing lenses, eye surgeries, direct contact with dry wind or smoke, and exposing one’s eyes to screens for a long duration increase the occurrence of the dry eye more likely. For example, a survey conducted by the American Academy of Ophthalmology reported that in the USA, nearly 3.2 million women and 1.68 million men, over the age of 50 were affected by dry eye syndrome. Similarly, a study conducted by the Indian Journal of Ophthalmology indicated a 32% prevalence of dry eye disease in the Northern part of India. the rising prevalence of the disease would increase the demand for its treatment and ultimately facilitate the growth of the dry eye medication market. Major players in the dry eye medication market are Novartis, Allergan, Otsuka, Santen Pharmaceutical, Auven Therapeutics, Akorn, Valent Pharmaceuticals, Johnson and Johnson Vision, Alcon and Bausch & Lomb. The market for dry eye medication market is restricted by the long approval process that is undertaken before any drug is approved by the concerned authority. The standard protocol for testing any new drug demands a series of tests and trials including laboratory tests, animal model tests, and clinical trials. Most drugs fail during clinical trials and only a small percent of them successfully move forward. The cumbersome process of obtaining approvals takes a longer duration of time and restricts the growth of this market. For example, in 2020, Eysuvis, a drug that addresses the short-term treatment needs of patients living with dry eye disease, was approved by the Food and Drug Administration (FDA) after its safety and effectiveness were assessed on more than 2900 patients with the disease in different clinical trials. Similarly, Kissei Pharmaceutical announced to discontinue the development of the KCT-0809 drug after it failed to pass the 3rd phase of clinical trials. Treatment for dry eye disease improved with the incorporation of modern techniques that helped invent advanced hyaluronic acid-based lubricants and lipid emulsions. This technology replaces artificial tears that include isotonic sodium chloride and provides long-lasting lubrication on the surface of the eye. For instance, Allergan, a global pharmaceutical company, launched Refresh Repair Lubricant Eye Drops which are designed to repair and protect the eyes from dry eye disease and improve the clarity of vision and are formulated with carboxymethylcellulose (CMC), hyaluronic acid, and osmoprotectants. These components maintain the health of the ocular surface and safeguard epithelial cells. Advances in technology will have a positive effect on the dry eye medication market. The dry eye medication market is strictly regulated by government agencies such as USFDA (Food and Drug Administration), the European Medicines Agency (EMA), and others. For instance, in the USA, FDA evaluates and approves the drugs meant for dry eye treatment. According to Section 201(g) of the FDA and CFR (Code of federal regulations) act, the licenses are granted to drug manufacturing companies allowing them to sell only those drugs that are safe and clinically effective. FDA demands several tests and several clinical trial rounds before granting such approvals. For example, FDA approved Kala Pharmaceuticals’ eye-related drug called INVELTYS. In July 2022, Alcon, a Switzerland-based ophthalmology company acquired Eysuvis pharmaceutical eye drops from Kala Pharmaceuticals for a deal amount of $60 million. Through this acquisition, Alcon acquires Inveltys treatment of post-operative inflammation and pain following ocular surgery and expands its portfolio. Kala Pharmaceuticals is a US-based pharmacuetical company operating in drug eye medication. North America was the largest region in the dry eye medication market in 2022. Middle East is expected to be the fastest-growing region in the global dry eye medication market share during the forecast period. The regions covered in the global dry eye medication market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the dry eye medication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The dry eye medication market consists of sales of polyethylene glycol, polyvinyl alcohol, propylene glycol, carboxymethylcellulose, povidone, glycerine, and mineral oil. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The dry eye medication market research report is one of a series of new reports from The Business Research Company that provides dry eye medication market statistics, including dry eye medication industry global market size, regional shares, competitors with a dry eye medication market share, detailed dry eye medication market segments, market trends and opportunities, and any further data you may need to thrive in the dry eye medication industry. This dry eye medication market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Hardware refers to the external components of any devices and instruments used to create apparatus, including metal hinges, metal handles, keys, locks, and other machinery, and helps companies avoid unforeseen problems like hardware damage and serious data loss to reduce maintenance cost and improve business operations. The main types of hardware are furniture hardware, motor vehicle hardware, builder's hardware, and other types. Furniture hardware refers to the hardware that includes furniture fittings, fixings, pieces that are used to make furniture. The sales channels are OEM, and aftermarket These are used in B2B and B2C. The global hardware market is segmented - 1) By Type: Furniture Hardware, Motor Vehicle Hardware, Builder's Hardware, Other Hardware 2) By End User: B2B, B2C 3) By Sales Channel: OEM, Aftermarket The global hardware market size grew from $111.44 billion in 2022 to $121.34 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global hardware market is expected to grow to $164.21 billion in 2027 at a CAGR of 7.9%. Metal consumption by the aerospace sector is expected to increase during the forecast period, thus driving the hardware manufacturing market. This is mainly due to the rise in air travel is leading to increased demand for commercial aeroplanes. According to the International Air Transport Association (IATA), there were around 3.8 billion air travellers and this number is expected to rise to 7.2 billion by 2035. Similarly, according to Boeing, approximately 42,730 new jets, valued at $6.3 trillion, will be required over the next 20 years, to meet rising passenger traffic and upcoming aeroplane retirements. This will require significant metal consumption, especially aluminium, which will drive the growth of the hardware manufacturing market in the forecast period. Major companies in the hardware market include Assa Abloy AB, Dormakaba Holding AG, Allegion PLC, Hafele GmbH & Co KG, Blum Inc., Tyman PLC, Hettich Holding GmbH & Co. oHG, Spectrum Brands Holdings Inc., Guangdong KinLong Hardware Products Co. Ltd., and MISUMI Group Inc. Geopolitical tensions are expected to hurt the hardware manufacturing market during the forecast period. Repercussions of geopolitical tensions include sanctions on Russia, trade protectionism, and heightened military tensions in the Middle East. For instance, in March 2022, the U.S. Department of State and The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) intensified pressure on Russia by sanctioning a huge number of Russian elites and their family members such that identifying certain properties of those persons as blocked and sanctioning Russian intelligence-directed disinformation outlets. This action follows OFAC’s imposition of sanctions on January 20, 2022, that identified Russian agents that took part in activities that attempt to destabilize the Ukrainian government, and builds on sanctions imposed on April 2021, for Russian-backed efforts to attempt to influence U.S. elections. Many hardware manufacturing companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reducing potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG), 1.2 million industrial robots are expected to be deployed by 2025, thus indicating a rise in automation and robotics technology adoption to improve productivity and reduce production costs. According to the KPMG report, 16% of executives of global metals companies have already invested in robotics for metal manufacturing, 31% of executives have set plans to possibly invest in robotics for new technology and opportunities, and 42% are willing to invest in robotics shortly. Additionally, the report states, 63% of the executives of metal manufacturing companies are considering investing in automation. Examples of companies offering industrial robots to metals companies include FANUC, KUKA, ABB, and Motoman. The Asia-Pacific was the largest region in the hardware market share in 2022. Western Europe was the second-largest region in the hardware market. The regions covered in the global hardware market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the hardware market include Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, Vietnam. The hardware market consists of sales of electronical hardware, computer hardware, and device hardware. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The hardware market research report is one of a series of new reports from The Business Research Company that provides hardware market statistics, including hardware industry global market size, regional shares, competitors with a hardware market share, detailed hardware market segments, market trends and opportunities, and any further data you may need to thrive in the hardware industry. This hardware market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.