Healthcare Market Characteristics

The healthcare market consists of sales of healthcare services and related goods by entities (organizations, sole traders and partnerships) that provide human healthcare services, or that provide veterinary healthcare service to pets, farm animals and animals kept in zoos and wildlife parks, or that manufacture and sell pharmaceutical drugs used to treat diseases, or that manufacture biologics to treat and prevent microbial diseases and cancer, or that manufacture medical equipment which are used in the diagnosis, treatment and monitoring of medical conditions. This market excludes the sales of alternative therapies and natural remedies such as homeopathy, Ayurveda, yoga, acupuncture and sujok therapy.

Hand-held surgical devices and equipment are nonpowered, hand-held, or hand-manipulated devices such as scalpels, forceps, retractors, intended to be used in various general surgical procedures. The main products of handheld surgical devices are scalpels, forceps, retractors, dilators, graspers, and others. The forceps are handheld instruments used for holding objects. The various applications involved are neurosurgery, cardiovascular, orthopedic, plastic and reconstructive surgery, obstetrics and gynecology, and others that are used by various end-users such as hospitals, specialized clinics, long-term care centres, ambulatory surgery centres, and others. The handheld surgical devices market research report is one of a series of new reports from The Business Research Company that provides handheld surgical devices market statistics, including handheld surgical devices industry global market size, regional shares, competitors with a handheld surgical devices market share, detailed handheld surgical devices market segments, market trends and opportunities, and any further data you may need to thrive in the handheld surgical devices industry. This handheld surgical devices 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. The global handheld surgical devices and equipment market size will grow from $6.07 billion in 2022 to $6.59 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. 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 handheld surgical devices and equipment market size is expected to grow to $8.18 billion in 2027 at a CAGR of 5.6%. Increasing demand for aesthetic surgeries drives the handheld surgical devices and equipment market. The demand for aesthetic surgeries can be attributed to an increase in per capita disposable income. According to the ASPS data 2021, more than 15.5 million cosmetics procedures were performed in 2020 alone. Rhinoplasty (a nose job) was the top cosmetic surgery in 2020, with more than 352,000 surgeries performed. The competitive pricing among manufacturers will restrain the handheld surgical devices market. An increasing number of local manufacturers are offering handheld surgical instruments at lower prices compared to major global manufacturers, as a result, companies are competing heavily on price and often need high sales volumes to be profitable. The use of handheld devices and equipment in minimally invasive surgeries is increasing. The low cost of handheld instruments compared to robotic systems is the major factor for the increasing use of these devices in most surgical settings. Technical advancements in handheld surgical instruments are increasingly adopted by surgeons due to the improvement in the ease of use of these instruments. Medical devices are classified as Class I, Class II, and Class III devices by FDA based on their risks and the regulatory controls necessary to provide a reasonable assurance of safety and effectiveness. Hand-held surgical devices are nonpowered, hand-held, or hand-manipulated devices such as scalpels, forceps, retractors, intended to be used in various general surgical procedures. Hand-held surgical devices are categorized as Class I medical devices. Class I devices generally have the lowest risk to the patient and/or user. These devices are exempted from the premarket notification procedures 510(k). In October 2022, Aspen Surgical Products, a portfolio company of US-based Audax Private Equity, acquired Symmetry Surgical for an undisclosed amount. The acquisition would augment Aspen’s portfolio with additional brands and diversify its portfolio. Symmetry Surgical is a US-based manufacturer of surgical instrumentation. Major players in the handheld surgical devices market are B. Braun Melsungen AG, Medtronic, Smith & Nephew, Johnson & Johnson Services Inc., Integra Life Sciences Corporation, Zimmer Biomet, CooperSurgical Inc., Becton, Dickinson and Company, and Moria. North America was the largest region in global handheld surgical devices market in 2022. Western Europe was the second-largest region in global handheld surgical devices market. The regions covered in the handheld surgical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the handheld surgical devices market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The handheld surgical devices and equipment market consists of sales of spatulas, dilators, graspers, auxiliary instruments, cutter instruments, and others. 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 global handheld surgical devices and equipment market is segmented - 1) By Product: Scalpels, Forceps, Retractor, Dilators, Graspers, Other Products 2) By End-User: Hospitals, Specialized Clinics, Long-Term Care Centers, Ambulatory Surgery Centers, Other End Users 3) By Application, Neurosurgery, Cardiovascular, Orthopedic, Plastic & Reconstructive Surgery, Obstetrics & Gynecology, Other Applications

Pharmaceutical active pharmaceutical ingredients (API) manufacturing refers to the production of the active substances that give a pharmaceutical medicine its desired impact on the body to treat a condition. Chemical components must be processed in order to make APIs. A biologic drug's active component is referred to as a bulk process intermediate. The main therapy areas of pharmaceutical API manufacturing are cardiovascular disorders, metabolic disorders, neurological disorders, oncology, musculoskeletal disorders, NSAIDs, and other therapeutics uses. Cardiovascular diseases are a group of heart and blood vessel disorders. The various API type include chemical API and biological API that are used to produce innovative drugs, generic prescription drugs, and over-the-counter (OTC) drugs. The pharmaceutical active pharmaceutical ingredients (API) manufacturing market research report is one of a series of new reports from The Business Research Company that provides pharmaceutical active pharmaceutical ingredients (API) manufacturing market statistics, including pharmaceutical active pharmaceutical ingredients (API) manufacturing industry global market size, regional shares, competitors with a pharmaceutical active pharmaceutical ingredient (API) manufacturing market share, detailed pharmaceutical active pharmaceutical ingredients (API) manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the pharmaceutical active pharmaceutical ingredients (API) manufacturing industry. The pharmaceutical active pharmaceutical ingredients (API) manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global pharmaceutical api manufacturing market grew from $195.29 billion in 2022 to $209.93 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. 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 pharmaceutical api manufacturing market is expected to grow from $266.72 billion in 2027 at a CAGR of 6.2%. The rise in the aging population is one of the major drivers of the pharmaceutical API manufacturing market. As the aging population increases, the demand for pharmaceutical drugs also increases. API acts as a specialty drug in these medicines to cure a particular disease. For instance, in October 2022, according to an article shared by WHO, a Switzerland-based specialized agency of the United Nations responsible for international public health, 80% of senior citizens will reside in low- and middle-income nations by 2050. The population is aging considerably more quickly than in the past. In 2020, there will be more persons over the age of 60 than under five-year-olds. Therefore, rise in aging population is driving the growth of the pharmaceutical API manufacturing market. Stringent regulations for approval of pharmaceutical drugs act as a restraint on the pharmaceutical API manufacturing market. Various regions have their own set of rules, guidelines, and regulations set by their respective drug regulatory bodies. For example, in Japan, the manufacturers have to register an API with Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) through the country’s Drug Master File (DMF) system. Products like APIs and new excipients i.e. inactive substances used in a drug should be registered compulsorily. The API manufacturer is also responsible for DMF registration, even if they don't have their office in Japan. They should appoint an in-country caretaker (ICC) to apply on their behalf. Also, if there are any changes to be made to DMF products, either an application for change in registration or a minor change notification should be submitted by the ICC to the PMDA. This whole process delays the drug approvals, thereby negatively affecting the pharmaceuticals API manufacturing market. Many companies use modern technologies such as process control, and powder handling to optimize API manufacturing. These technologies include advances in Lyophilization i.e. freeze-drying process. It is a low-temperature dehydration process that involves freezing the product, lowering pressure, and then removing the ice formed. For instance, Telstar, a company that manufactures efficient integrated systems for pharmaceutical and manufacturing processes, developed LyoGistics Zero, automatic loading and unloading system for freeze dryers to manufacture hazardous products. The system uses a linear magnetic driving mechanism that functions without racks and belts to reduce particle generation and this improves the hygiene in API manufacturing. Also, ILC Dover, a pharmaceutical company, developed the JetBreaker system, a semi-automatic powder handling system that separates powdered media and buffers powders so that they can be mixed better in a solution. In March 2021, Piramal Pharma Ltd., an India-based healthcare solutions company, acquired Hemmo Pharmaceuticals for an amount of $105.8 million. This acquisition is expected to expand PPS’s capacity to provide integrated services to its clients globally by gaining access to the expanding peptide API industry. The deal would also increase peptide API manufacturing and development capabilities. Hemmo Pharmaceuticals is an India-based developer and manufacturer of peptide APIs. Major players in the pharmaceutical API manufacturing market are Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Boehringer Ingelheim, PfizerInc., Aurobindo Pharma, Novartis AG, Dr. Reddy's Laboratories, Merck & Co.Inc., BASF SE., Bayer Healthcare, Mylan N.V., Albemarle Corporation, Actavis PLC., Hospira Inc., Ranbaxy Laboratories, Virbac, Zoetis, Heska Co., AbbVie Inc., AstraZeneca PLC., Eli Lilly and Company, GlaxoSmithKline PLC., Sanofi, Bristol-Myers Squibb, CiplaInc., and F. Hoffmann-La Roche Ltd. North America was the largest region in the pharmaceutical API manufacturing market in 2022. The Middle East is expected to be the fastest growing region in the global pharmaceutical API manufacturing market during the forecast period. The regions covered in the global pharmaceutical API manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the pharmaceutical API manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The pharmaceutical active pharmaceutical ingredients (API) manufacturing market includes tablet, capsule, cream, and injectable sales.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 organisations 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 chain or as part of other products. The global pharmaceutical api manufacturing market is segmented - 1) By Therapy Area: Cardiovascular disorders, Metabolic disorders, Neurological disorders, Oncology, Musculoskeletal disorders, NSAIDs, Other therapeutics uses 2) By API Type: Chemical API, Biological API 3) By Drug Type: Innovative Drugs, Generic Prescription, Over-the-counter (OTC) Drugs

Rapid microbiology testing has high sensitivity and less turnover time compared to traditional methods and is used to diagnose infectious diseases or target products by examining pathogens within a short period. The main product types of rapid microbiology testing kits are instruments, reagents, kits, consumables. The various testing types included are growth-based rapid microbiology testing kits, cellular component-based rapid microbiology testing kits, nucleic acid-based rapid microbiology testing kits, viability-based rapid microbiology testing kits, and other rapid microbiology testing kits methods that are used for applications such as clinical disease diagnosis, food, and beverage testing, pharmaceutical and biological drug testing, cosmetics and personal care products testing, environmental testing, research applications, and others. The rapid microbiology testing kits market research report is one of a series of new reports from The Business Research Company that provides rapid microbiology testing kits market statistics, including rapid microbiology testing kits industry global market size, regional shares, competitors with a rapid microbiology testing kits market share, detailed rapid microbiology testing kits market segments, market trends and opportunities, and any further data you may need to thrive in the rapid microbiology testing kits industry. This rapid microbiology testing kits 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. The global rapid microbiology testing kits market grew from $4.36 billion in 2022 to $4.61 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. 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 rapid microbiology testing kits market is expected to grow from $5.78 billion in 2027 at a CAGR of 5.8%. The rising number of infectious diseases is one of the major drivers for the rapid microbiology testing kits market. Rapid diagnostic tests are faster, more reliable, and more widely available than traditional tests. As the number of infectious disease cases increases, the need for tests to confirm these diseases also increases. With the increasing demand for microbiology tests, the need for rapid microbiology tests is increasing as it gives quicker results than normal microbiology tests. For example, according to the Centers for Disease Control and Prevention (CDC) Trusted Source, the number of visits to physician offices with infectious and parasitic diseases as the primary diagnosis was 15.5 million and the number of emergency department visits with infectious and parasitic diseases as the primary diagnosis was 3.7 million per year. The stringent regulations related to rapid microbiology testing kits are a major restraint for the market. This is because scientific validation is a critical part of obtaining regulatory approval for a rapid microbiology testing method. In this regard, various tests such as a test for accuracy, specificity, precision, range, and robustness are mandatory. The processes for evaluating, validating, and implementing rapid microbiology test methods are expensive and time-consuming. This often leads to a delay in the launch of a testing method and adds up to the final cost of the test. For example, the process for approval by the FDA for rapid microbiology testing methods is very time-consuming which alters the normal operating cycle for manufacturers and causes a delay in the commercial launch of the test devices in the market. Technological advancements are an emerging trend in the rapid microbiology testing kits market. This is mainly because these technological advancements improve the reliability and efficiency of tests and testing methods. Automation in rapid microbial detection enables higher throughputs and greater accuracy in results. Similarly, robotic cassette handling, incubation, and imaging reduce the risks of miscounts, mid-test contamination, and incorrect data entry, which leads to fewer false positives and out-of-specification investigations. Fewer investigations then ultimately improve uptime and reduce delay and recall of tests. For example, Abbott Laboratories announced the next generation Alinity HQ Hematology Analyzer that is aimed to minimize errors and reduce manual steps in testing. The FDA regulates rapid microbiology testing through its process analytical technology (PAT) regulatory framework initiative. PAT is a system that evaluates the designing, controlling, and timely measuring of critical quality of raw and processed materials. It seems that manufacturers have built-in quality into products rather than testing quality in products. This ensures final product quality and improves manufacturing efficiencies. Hence, regulations such as these would keep a check on the companies in the rapid microbiology testing market. Major players in the rapid microbiology testing kits market are Abbott Laboratories, Becton, Dickinson and Company, Bruker Corporation, Charles River Laboratories International Inc., Danaher Corporation, Don Whitley Scientific Limited, Merck KGaA, Neogen Corporation, Quidel Corporation, and Rapid Micro Biosystems Inc. North America was the largest region in the rapid microbiology testing kits market in 2022. Western Europe was the second largest region in the global rapid microbiology testing kits market report. The regions covered in global rapid microbiology testing kits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the rapid microbiology testing kits market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The rapid microbiology testing market includes revenues earned by entities by qualitative, quantitative, and identification methods. 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 global rapid microbiology testing kits market is segmented - 1) By Product Type: Instruments, Reagents And Kits, Consumables 2) By Application: Clinical Disease Diagnosis, Food And Beverage Testing, Pharmaceutical And Biological Drug Testing, Cosmetics And Personal Care Products Testing, Environmental Testing, Research Applications, Other Applications 3) By Testing Type: Growth-Based Rapid Microbiology Testing Kits, Cellular Component-Based Rapid Microbiology Testing Kits, Nucleic Acid-Based Rapid Microbiology Testing Kits, Viability-Based Rapid Microbiology Testing Kits, Other Rapid Microbiology Testing Kits Methods

Orthrobiologic devices are implants composed of cells and proteins that are naturally found in the human body and that provide accelerated healing by stimulating efficient regrowth of musculoskeletal tissues, including bones, cartilage, tendons, and ligaments. The main product types of orthobiologics devices and equipment are demineralized bone matrix, synthetic bone substitutes, stem cell therapy, plasma-rich protein, viscosupplementation, bone morphogenetic protein, and synthetic orthobiologics. Stem cell therapy is promoting the repair response of diseased, dysfunctional, or injured tissue using stem cells or their derivatives. The various applications involved are osteoarthritis and degenerative arthritis, soft-tissue injuries, fracture recovery, maxillofacial and dental applications, spinal fusion, trauma repair, and reconstructive surgery that are used by various end-users such as hospitals, orthopedic clinics, and others. The orthobiologics devices and equipment market research report is one of a series of new reports from The Business Research Company that provides orthobiologics devices and equipment market statistics, including orthobiologics devices and equipment industry global market size, regional shares, competitors with a orthobiologics devices and equipment market share, detailed orthobiologics devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the orthobiologics devices and equipment industry. This orthobiologics devices and equipment 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. The global othobiologics devices and equipment market grew from $4.86 billion in 2022 to $5.29 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 othobiologics devices and equipment market is expected to grow from $6.85 billion in 2027 at a CAGR of 6.7%. The aging population profile of most countries contributed to the growth of orthobiologics devices and equipment market globally. According to the United Nations report, there were 962 million people aged over 60 across the globe, comprising 13% of the global population. The population aged over 60 is expected to grow at a rate of about 3% every year. The report further estimated that Europe had the highest percentage of the population aged over 60. The number of people globally over the age of 65 grew by 33%, according to estimates based on Population Reference Bureau data. The increase in the aging population has increased the patient pool of many orthopedic disorders and led to an increase in the demand for orthobiologics devices and equipment market. Rising incidences of post-surgical complications in patients implanted with orthobiologics devices are one of the major restraints in the orthobiologics devices and equipment market. Surgical procedures with orthobiologics grafts, implants, and devices have become increasingly common in recent years. Major postoperative complications include device failures, bleeding, postoperative infections, immune responses, and rejections. These procedures may develop post-surgery complications which refer to the development of any unwanted or unexpected conditions related to the device, graft, or implant. These complications may vary with the type of procedure, implant, graft, or device, the experience of the surgeon, improper device testing procedures before market launch, device location in the body, and the health and biological response of the individual. The increasing post-operative complications and device failures can limit the orthobiologics devices and equipment market. Biodegradable implants are increasingly being used in orthobiologics treatment and trauma orthopedic surgeries. Biodegradable implants are used to replace a missing biological structure, support a damaged biological structure, and enhance the existing bone structure. Biodegradable products such as re-absorbable polymers composed of polyglycolic acid and polylactic acid manufactured in the form of plates, screws, and pins are replacing traditional devices like plates and screws which are more expensive. Surgeons are preferring biodegradable implants to replace conventional implants, as biodegradable implants can be engineered to provide temporary support for bone fractures, can degrade at a rate matching new tissue formation, eliminate the need for the second surgery, and are highly useful in fracture fixation in children with less implant-related infections. For instance, Stryker Corp. offers orthobiologics such as bone repair biodegradable products that are used in bone regeneration and bone healing, soft tissue regeneration, and muscle connection to bone Regulatory changes are likely to lead to increased costs relating to new product development and supply of orthobiologics devices. These changes are related to customer data protection such as the European Union's General Data Protection Regulation (GDPR), changes to equipment approval procedures, and other regulatory changes. The GDPR is an EU law on the data protection and privacy of individuals residing in the European Union and the European Economic Area (EEA). It also regulates the export of personal data outside the EU and EEA areas. Additionally, the FDA is requesting more clinical data to support claims, therefore increasing the time to process 510(k)s by over 55% over the last decade. In November 2017, the USFDA has announced a comprehensive regenerative medicine policy framework to facilitate innovation. This policy deals with the manufacture of tissues, human cells, and cellular and tissue-based products other procedures to prevent the introduction, transmission, and spread of communicable diseases. Orthobiologics such as stem cell therapies are approved through this framework. The potential loss of revenue due to delays in product release, additional costs incurred by the time-consuming approval processes, and changing regulations puts a strain on investments relating to orthobiologics devices development. Major players in the orthobiologics devices and equipment market are Medtronic, Arthrex Inc., DePuy Synthes (A Subsidiary of Johnson & Johnson), Stryker Corporation, Zimmer Biomet, Bioventus LLC., Baxter International Inc., Integra Lifesciences Holding Corporation, Nuvasive Inc., and Sanofi. North America was the largest region in the global orthobiologics devices and equipment market in 2022. Western Europe was the second-largest region in the orthobiologics devices and equipment market. The regions covered in global orthobiologics devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The counties covered in the orthobiologics devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The orthrobiologic devices market consists of sales of demineralized bone matrix, synthetic bone substitutes, stem cell therapy, plasma-rich protein, viscosupplementation, bone morphogenetic protein, and other synthetic orthobiologics. 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 global orthobiologics devices and equipment market is segmented - 1) By Product Type: Demineralized Bone Matrix, Synthetic Bone Substitutes, Stem Cell Therapy, Plasma-Rich Protein, Viscosupplementation, Bone Morphogenetic Protein, Synthetic Orthobiologics 2) By Application: Osteoarthritis and Degenerative Arthritis, Soft-Tissue Injuries, Fracture Recovery, Maxillofacial and Dental Applications, Spinal Fusion, Trauma Repair, Reconstructive Surgery 3) By End Use: Hospitals, Orthopedic Clinics, Other End Users

Pegfilgrastim Biosimilars Market Definition

The pegfilgrastim biosimilars market consists of the sales of pegfilgrastim biosimilars and related services by entities (organizations, sole traders and partnerships) that use them for the treatment of febrile neutropenia – a life-threatening complication of cancer chemotherapy and to increase the production of infection-fighting white blood cells following transplantation. It is a recombinant human granulocyte colony stimulating factor (G-CSF) and helps to stimulate the production of infection-fighting white blood cells (neutrophils) for the treatment of cancer patients undergoing chemotherapy. The drug has further applications where protection from infections where immune system is compromised, such as in bone marrow transplants.

Oncology biosimilars refer to biologically similar drugs or medications that are physiologically comparable to biologic cancer treatments. Infection risk is increased by decreased white blood cell counts, which can be treated as a side effect of cancer therapy. The main drug types of oncology biosimilars are monoclonal antibodies, immunomodulators, hematopoietic agents, and granulocyte colony-stimulating factor (G-CSF). Immunomodulators are a class of drugs that primarily target pathways involved in the treatment of multiple myeloma and a few other cancers. The types of cancer treated include breast cancer, colorectal cancer, blood cancer, neutropenia cancer, and non-small cell lung cancer, and the various distribution channels involved are hospital pharmacies, retail pharmacies, and online pharmacies. The oncology biosimilars market research report is one of a series of new reports from The Business Research Company that provides oncology biosimilars market statistics, including oncology biosimilars industry global market size, regional shares, competitors with an oncology biosimilars market share, detailed oncology biosimilars market segments, market trends and opportunities, and any further data you may need to thrive in the oncology biosimilars industry. This oncology biosimilars market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global oncology biosimilars market grew from $4.19 billion in 2022 to $5.38 billion in 2023 at a compound annual growth rate (CAGR) of 28.3%. 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 oncology biosimilars market is expected to grow from $12.83 billion in 2027 at a CAGR of 24.3%. The expiration of the patent of biologics used for the treatment of cancer is driving the production of new oncology biosimilars. Biologics can be patented for a limited period and the expiration of patents for biologics allows the development of new biosimilars. Biologics are targeted drugs synthesized from living organisms that induce the immune system to attack cancer cells. Biosimilars are similar to biologics but are not identical and offer the same effectiveness as biologics at a reduced cost. According to the Center for Biosimilars, patents on nearly 20 oncology biologics will expire by 2023, leading to the development of new biosimilars in cancer care. The increased number of patent expiry is expected to boost the demand for the production of new oncology biosimilars, thus, driving the market growth for oncology biosimilars. The lack of awareness of biosimilars among primary care physicians (PCPs) and specialists limits the growth of the oncology biosimilars market. Biosimilars are manufactured from cell lines and offer the same effectiveness as biologics. However, a lack of detailed awareness of the biosimilars amongst the prescribers reduces the prescriptions of biosimilars affecting the biosimilar market. For instance, as reported by the Health Research Institute of PricewaterhouseCoopers, out of 442 clinicians surveyed 55% of clinicians were unfamiliar with biosimilars and 35% were reluctant to prescribe them due to concerns including the safety of the follow-on biologic. Thus, the lack of awareness about biosimilars among primary care physicians (PCPs) and specialists restricts the growth of the oncology biosimilars market. The pharmaceutical companies are increasingly investing in research and development to produce new oncology biosimilars. The companies are exploiting the growth potential of the rising biosimilar market by investing in their research and development (R&D) processes to support the research and production process of new biosimilars. For instance, in February 2021, Coherus and Junshi Biosciences announced a collaboration in which Coherus would in-license toripalimab, an anti-PD-1 antibody in the US and Canada. Coherus plan to build a leading immuno-oncology franchise using cash from its commercial biosimilar business. Also, in 2019, Biocon, India’s largest biotechnology company invested to acquire some assets of Pfizer Healthcare to set up an R&D facility to boost biosimilar development. Major players in the oncology biosimilars market are Bitcoin, Celltrion Inc., Dr. Reddy's Laboratories Ltd., Intas Pharmaceuticals Ltd., STADA Arzneimittel AG, Pfizer Inc., Apotex Inc., Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, BIOCAD, Amgen, Hospira, F Hoffmann-La Roche, Baxter, Sanofi, Mylan, and F Hoffmann-La Roche. North America was the largest region in the global oncology biosimilars market in 2022. The Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the global oncology biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the oncology biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The oncology biosimilars market consists of sales of Ogivri, Herzuma, Ontruzant, and Trazimera. 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 organisations 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 chain or as part of other products. The global oncology biosimilars market is segmented - 1) By Drug Type: Monoclonal Antibodies, Immunomodulators, Hematopoietic Agents, Granulocyte Colony-Stimulating Factor (G-CSF) 2) By Cancer Type: Breast Cancer, Colorectal Cancer, Blood Cancer, Neutropenia Cancer, Non-Small Cell Lung Cancer, Other Cancer Types 3) By Distribution Type: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy

Orthopedic devices are used to stabilize the body posture by correcting deformities, restoring the function of the human skeletal system, articulations, and associated structures either by replacing or reinforcing the damaged part. The main types in the orthopedic devices market are joint reconstruction devices and equipment; spinal surgery devices and equipment, trauma fixation devices and equipment, orthobiologics devices and equipment, arthroscopy devices and equipment, orthopedic braces and support devices and equipment, and craniomaxillofacial (CMF) devices and equipment, orthopedic prosthetics. Spinal surgery devices are the devices used during spine surgery to stabilize the spine to prevent motion while fusion occurs between two or more vertebrae. The type of expenditure is public, private. The products used are instruments/equipment, disposables. The various end-users are hospitals and clinics, diagnostic laboratories, and others. The orthopedic devices market research report is one of a series of new reports from The Business Research Company that provides orthopedic devices market statistics, including orthopedic devices industry global market size, regional shares, competitors with a orthopedic devices market share, detailed orthopedic devices market segments, market trends and opportunities, and any further data you may need to thrive in the orthopedic devices industry. This orthopedic devices 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. The global orthopedic devices market grew from $43 billion in 2022 to $45.79 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. 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 orthopedic devices market is expected to grow to $55.75 billion in 2027 at a CAGR of 5.0%. The increase in the patient pool due to the rising geriatric population globally contributed significantly to the growth of the orthopedic devices market during the historic period. According to the World Health Organization, the number of people aged 60 years and above was 1 billion in 2020 and the number will rise to 1.4 billion by 2030 and it will reach 2.1 billion by 2050. This rise in the geriatric population increased the demand for medical care and drove the healthcare expenditure. These factors increased the demand for these products and drove the market during the historic period. The orthopedic devices market was limited by the development of new drugs and therapies which allow patients to avoid surgical procedures. With advances in tissue engineering, stem-cell therapy, and other treatment alternatives such as platelet-rich plasma (PRP) injections, patients can avoid surgical procedures for medical conditions such as arthritis, tendonitis, and others. This has negatively impacted the demand for orthopedic devices as an increasing number of people opted for these alternative treatment methods, to avoid risks and complications associated with orthopedic procedures. Biodegradable implants are increasingly being used in trauma orthopedic surgeries. Biodegradable implants are used to replace a missing biological structure, support a damaged biological structure, and enhance the existing bone structure. Biodegradable products such as reabosorbable polymers composed of polyglycolic acid and polylactic acid manufactured in the form of plates, screws, and pins are replacing traditional devices like plates and screws, which are more expensive. Surgeons are preferring biodegradable implants to replace conventional implants, as biodegradable implants can be engineered to provide temporary support for bone fractures; can degrade at a rate matching new tissue formation; can eliminate the need for the second surgery, and are highly useful in fracture fixation in children; and result in less implant-related infections. For instance, Stryker Corporation offers orthrobiologics such as bone repair biodegradable products that are used in bone regeneration and bone healing, soft tissue regeneration, and muscle connection to bone. Major companies in the orthopedic devices market include Johnson & Johnson, Zimmer Biomet Holdings, STRYKER CORPORATION, Medtronic Inc., Smith & Nephew plc, Colfax Corporation, NuVasive, Inc., Wright Medical Group, Inc., Globus Medical Inc., and B. Braun Group. North America was the largest region in the global orthopedic devices market in 2022. Western Europewas the second largest region in the global orthopedic devices market. The regions covered in the orthopedic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the orthopedic devices market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, 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, USA, Venezuela, and Vietnam. The orthopedic devices market consists of sales of osteotomes, bone-cutting forceps, Gigli saws, and plate benders that are used for orthopedic surgeries and treatment. 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 global orthopedic devices market is segmented - 1) By Type: Joint Reconstruction Devices And Equipment, Spinal Surgery Devices And Equipment, Trauma Fixation Devices And Equipment, Orthobiologics Devices And Equipment, Arthroscopy Devices And Equipment, Orthopedic Braces And Support Devices And Equipment, Craniomaxillofacial (CMF) Devices And Equipment, Orthopedic Prosthetics 2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users 3) By Type of Expenditure: Public, Private 4) By Product: Instruments/Equipment, Disposables