Covid-19 Diagnostics Market to Scale New Heights, Anticipating US$204.51 Billion by 2032

The COVID-19 Diagnostics Market is positioned for exceptional growth, projecting a substantial climb to surpass the valuation of US$ 204.51 billion by 2032, driven by an impressive compound annual growth rate (CAGR) of 7.7%. This anticipated surge reflects the crucial role of diagnostic tools in managing the ongoing pandemic. As global efforts continue to combat COVID-19, this market’s exponential expansion underscores the significance of accurate and efficient testing solutions. The trajectory not only demonstrates the resilience of the healthcare sector but also the industry’s commitment to advancing diagnostic technologies in the face of unprecedented challenges.
The report features unique and salient factors that may make a huge impact on the development of the Covid-19 Diagnostics Market during the forecast period. It can help market players modify their manufacturing and marketing strategies to envisage maximum growth in the market in the years to come. The report provides detailed information about the current and future growth prospects of the market in the most comprehensive way for better understanding of readers.
Key Segments of Covid-19 Diagnostics Market
FMI’s study on the market offers information divided into four important segments— Drug Class, Route of Administration, Application, and Region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Takeaways from FMI’s Covid-19 Diagnostics Market Study
• Molecular assay holds the largest share right now and the trend is expected to continue till the end of 2020. This could be attributed to the fact that molecular assays have been looked upon as a gold standard to detect novel viral infections
• Diagnostic labs contributed to more than 60% of total market share in 2020’s first quarter
Key Challenges for Market Players & Researchers
Right now, the challenges faced include lack of information regarding the virus, like genetic information, biologics, duration of immunity in the recovered patients.
Certain treatment options that are expected to be potential game changers include ACE-Mab by Sorrento Therapeutics, HCQ (Hydroxychloroquine and chloroquine), Remdesivir antiviral by Gilead Sciences, and Canakinumab (Ilaris) by Novartis.
Moreover, options like cell-based therapies that involve natural killer cells or Mesenchymal stem cells and plasma therapies are on the verge of providing personalized treatment options.
Key Participant Insights
The key participants are focusing on acceleration of production as well as new product approval phase. For example – Novacyt Group, in Mar 2020, received EUA for 2-hour Covid-19 test. Also, in Apr 2020, CE approval was received by Abbott for IgG serology blood test for Covid-19.
The other players in the market include Veredus Laboratories, Thermo Fisher Scientific, Inc., Quidel Corporation, Perkin Elmer, Inc., Neuberg Diagnostics, Mylab Discovery Solutions Pvt Ltd., Luminex Corporation, Laboratory Corporation of America Holdings, Hologic Inc., Danaher, Cepheid, bioMérieux SA, Altona Diagnostics GmbH, ALDATU BIOSCIENCES, ADT Biotech Sdn Bhd, and 1drop Inc.
Key Segment
Product Type
• Instruments
• Test Kits
• Reagents and Consumables
Sample Type
• Oropharyngeal & Nasopharyngeal Swabs
• Blood
• Urine
• Others
Technology
• PCR
• ELISA
• POC
Region
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

Pet DNA Testing Market: Projected to Reach US$ 839.84 Million by 2033

The pet DNA testing market is anticipated to expand its roots at a steady CAGR of 9.1% between 2023 and 2033. The market is anticipated to cross a market share of US$ 839.84 Million by 2033 while it is likely to be valued at US$ 351.52 Million in 2023.
• Increased adoption of dogs and cats post-pandemic along with people treating their pets as family members is fueling the demand for pet DNA testing solutions. Furthermore, the higher veterinary budget is also expanding the research and development facilities.
• Expanding breeding businesses and end users buying dogs of foreign breeds. Moreover, conducting breed origin tests is also fueling the demand for pet DNA tests. Apart from the breed identification possible genetic threats could also be found through the test.
• The integration of veterinary technology with the digitization of veterinary healthcare along with dog breed tests.
• People are curious to know more about their pets, ancestral history, and characteristics. These details optimize their diet regime and exercise which fuels the sales of pet DNA tests.
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Key Points
1. The United States market leads the pet DNA testing market in terms of market share in North America. The North American market held a market share of 35.0% in 2022. The market growth is attributed to the increase in pet care units and pet humanization.
2. The United Kingdom pet DNA testing market is another significant market from the European region. Regional growth is attributed to government efforts and, advancements in pet genetics technology.
3. The Chinap pet DNA testing market is anticipated to thrive at a healthy CAGR during the forecast period. The growth is owed to increased pet adoption, advanced DNA testing, and expanding breeding business.
4. By test type, the genetic diseases segment held a share of 35.0% in 2022. This is due to the increased amount of information and potential health threats.
Competitive Landscape
The key vendors work on producing pet DNA testing solutions with higher accuracy, small diagnostics time, and affordable pricing. The market players also focus on creating easy-to-use products. Key competitors are indulged in mergers, acquisitions, and partnerships to increase their supply chain and distribution channel. The key players in the market are Wisdom Panel (Mars, Inc.); Embark Veterinary, Inc.; Dognomics (Clinomics); Basepaws, Inc. (Zoetis); and NeoGen Corp.
Recent Market Developments
• Wisdom Panel introduced a `wisdom panel dog DNA test for breed detection. The test delivers information such as the dog’s color, strength, energy, and fur.
• Embark Veterinary launched tests involving breed identification, health and wellness tests, and faster test results.
• Dognomics dog DNA tests have eased their testing procedures with three simple steps: sign up, swab, and send. While swabbing takes 5-10 secs, the company has free shipping in the United States.
Key Players
• DNA MY DOG (Canadian Dog Group Ltd.)
• Basepaws, Inc. (Zoetis)
• Neogen Corp.
• GenSolDiagnostics, LLC
• FidoCure (OHC)
• PetDx
• Wisdom Panel (Mars, Inc.)
• Orivet Genetic Pet Care Ltd.
• Embark Veterinary, Inc.
• Dognomics (Clinomics)
Market Segmentation
Animal Type Outlook:
• Dogs
• Cats
Sample Type Outlook:
• Blood
• Saliva
• Semen
• Others
Test Type Outlook:
• Breed Profile
• Genetic Diseases
• Health & Wellness
End User Outlook:
• Pet Owners
• Breeders
• Veterinarians

Surgical Retractors Market Poised to Surge to US$ 4.1 Billion by 2032

The Global Surgical Retractors Market was valued at US$ 1.8 Billion in 2021 and is expected to reach US$ 4.1 Billion by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report, it is projected that revenue through the neurosurgery application will grow at 10.7% CAGR during the forecast period.
Around 12% of all neurology patients die from these diseases each year, according to the World Federation of Neurology. According to the WHO, neurological diseases will cause an increase in the number of Disability-Adjusted Life Years lost globally from 95 Million in 2015 to 103 Million in 2030.
Surgery is the single and primary form of treatment for neurological conditions. The increase in neurological surgeries and the high demand for surgical retractors manufactured especially for these procedures are the main reasons why the neurosurgery segment dominates the market for surgical retractors.
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The United States will hold the largest share of the market throughout the Analysis Period
From 2022 to 2032, the Surgical Retractors Market is estimated to develop at a CAGR of 8.9% in the United States; taking the market to US$ 1.1 Bn by 2032. From 4% of GDP in the 1960s to 19.7% of GDP in 2020, the US’s healthcare costs have grown significantly.
Chronic renal illness affects 15% of Americans, according to the Centers for Disease Control and Prevention. The rising prevalence of chronic diseases is therefore predicted to increase the need for surgical intervention, which will raise demand for surgical retractors and generate an absolute dollar growth potential of US$ 663 Mn.
Surgical Retractors Market: Competition Insights
The key companies operating in the Surgical Retractors Market include Baxter International Inc., B. Braun Melsungen AG, The Cooper Companies, Inc., Terumo Corporation, Teleflex Incorporated, Medtronic Plc., Medline Industries INC., Johnson & Johnson, NOVO NORDISK, Integra Lifesciences Holdings Corporation, HENKE-SASS WOLF, Henry Schein, Inc., Dickinson and Company, Conmed Corporation, SKLAR Surgical Instruments., Teleflex Incorporated., Olympus Corporation, Thompson Surgical, Arthrex, Inc., Microsurgical Technology, STRYKER CORPORATION, GLOBUS MEDICAL, Applied Medical Resources Corporation, Innomed, Inc., LiNA Medical ApS, Vivo Surgical Private Limited, and Changzhou Haiers Medical Devices Co. Ltd.
Some of the recent developments by key providers of the Surgical Retractors Market are as follows:
• In April 2021, in order to connect its StealthStation S8 surgical navigation system with Surgical Theater’s SyncAR augmented reality (AR) technology, Medtronic plc established a cooperation with the company. Through this partnership, neurosurgeons will be able to use augmented reality (AR) technology in real-time to improve visualization during challenging cranial surgeries.
• In March 2020, a collaboration between JUNE MEDICAL and Vivo Surgical was established that led to the Galaxy II LUX self-retaining ring retractor with light. The Galaxy II retractor offered by June Medical and the KLARO light provided by Vivo Surgical, which has a specially made clip for it, are combined to create this gadget.By giving surgeons better access to and a clearer vision of the surgical site, this retractor has the advantage of removing the drawbacks of employing overhead lighting or personal head torches.
• In May 2019, ONETRAC LX, a newly created single-use cordless surgical retractor that is outfitted with a multi-LED light source and dual smoke evacuation channels, has been introduced by OBP, one of the top makers of self-contained and single-use medical devices. The newly created surgical retractor provides operating surgeons and nurses with the best possible smoke clearance capabilities.
Key Segments Covered in Surgical Retractors Market Survey
By Application:
• Handheld
• Self-retaining
By Product Type:
• Abdominal retractor
• Finger retractor
• Nerve Retractor
• Orthopedic Retractor
• Rectal Retractor
• Thoracic retractor
• Ribbon retractor
• Other Product Types
By Application Size:
• Neurosurgery
• Wound closure
• Reconstructive surgery
• Cardiovascular
• Orthopedic
• Obstetrics and Gynecology (Ob/Gyn)
• Other Applications
By End-use:
• Hospitals
• Ambulatory Surgical Centers
• Clinics

Global Chronic Obstructive Pulmonary Disease (COPD) Market Outlook by 2033

In 2023, the global Chronic Obstructive Pulmonary Disease (COPD) Market is anticipated to be worth US$ 21.58 billion. With rising alcohol use, the overall demand for Chronic Obstructive Pulmonary Disorder (COPD) is expected to rise at a CAGR of 4.4% between 2023 and 2033, reaching roughly US$ 33.19 billion by 2033.
In 2023, the market for Chronic Obstructive Pulmonary Disorder (COPD) is anticipated to be worth US$21.58 billion. The entire market for Chronic Obstructive Pulmonary Disorder (COPD) is expected to reach US$ 33.19 billion by 2033 due to rising alcohol use worldwide, with a CAGR of 4.4% between 2023 and 2033.
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Additionally, the World Health Organization (WHO) states that the most common cause of COPD is exposure to tobacco smoke both via first hand as well as second-hand smoking. This global increase in the prevalence of COPD is a major factor fueling the growth of the COPD market in the forthcoming years. In addition, the rise in consumption of tobacco among millennials, coupled with the rise in the awareness among population, regarding the use of generic drug are projected to contribute to the revenue share of the chronic obstructive pulmonary disease market in the near future.
According to the Centre for Disease Control and Prevention (CDCP), the cost related to COPD in the US were 32.1 $ billion in 2010, and rose to 49 billion by 2020. Hence, the continual growth witnessed in the cases of COPD among population worldwide is a major factor that will intensify the growth of the COPD market over the forecast period.
Key Takeaways from the Market Study
• Global Chronic Obstructive Pulmonary Disease (COPD) Market was valued at US$ 20.67 Billion by 2022-end
• From 2018 to 2022, the market demand expanded at a CAGR of 2.4%
• By Type, the Chronic Bronchitis segment of the market constitutes the bulk of the market with a market share of 43%
• By Distribution Channel, the Retail Pharmacies segment dominates the market with a share of 42%
• From 2023 to 2033, Chronic Obstructive Pulmonary Disease (COPD) sales are expected to flourish at a CAGR of 4.4%.
• By 2033, the market value of Chronic Obstructive Pulmonary Disease (COPD) is expected to reach US$ 33.19 Billion.
Continual increase in cases of COPD globally, coupled with rising cases of tobacco consumers are the major factors escalating the growth of the Chronic Obstructive Pulmonary Disease (COPD) market in the near future, remarks an FMI analyst.
Competitive Landscape
Prominent players in the Chronic Obstructive Pulmonary Disease (COPD) market are Almirall, AstraZeneca, Boehringer Ingelheim International GmbH, CHIESI Farmaceutici S.p.A., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc., Kyowa Hakko Kirin, Mylan N.V., Novartis AG, Orion Corporation, Sanofi, Sunovion Pharmaceuticals, Inc. (Sumitomo Dainippon Pharma Co., Ltd.), Teva Pharmaceutical Industries Ltd., Theravance Biopharma, and Verona Pharmaceuticals, among others.
Recent Developments:
• In June 2022, Verona Pharma, a pharmaceutical company, announced completion of the patient enrolment, with more than 800 subjects involved for its randomized ENHANCE-1 trial. The study will evaluate ensifentrine for the maintenance treatment of chronic obstructive pulmonary disease. It is a critical step for the phase III ENHANCE trial with top-line data expected by the end of the year 2022 and further data from ENHANCE-2 in the third quarter of 2022.
• In May 2022, Alembic Pharmaceuticals Ltd, a pharmaceutical company, received final approval from the US health regulator for its generic version of Arformoterol Tartrate inhalation solution indicated for long-term treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease. The approval by the U.S. Food & Drug Administration (USFDA) for the abbreviated new drug application (ANDA) for Arformoterol Tartrate inhalation solution is for strength of 15 mcg (base)/2 mL unit-dose vial.
Know More About What the Chronic Obstructive Pulmonary Disease (COPD) Market Repost Covers
Future Market Insights offers an unbiased analysis of the global Chronic Obstructive Pulmonary Disease (COPD) Market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033. To understand opportunities in the Chronic Obstructive Pulmonary Disease (COPD) Market, the market is segmented on the basis of drug class, type, and distribution channel, across five major regions

Portable Anesthesia Systems Market, reaching US$ 880.8 Million by the year 2032

The global Portable Anesthesia Systems Market was worth US$ 462.8 Million in the year 2022 and is expected to reach US$ 880.8 Million by the year 2032 at a CAGR of 6% between 2022 and 2032.
With computer-assisted technology systems doing the rounds, digital surgical methods are witnessing an upsurge. This factor is expected to take the portable anesthesia systems market by storm in the forecast period. These anesthesia systems are inclusive of dynamic pressure sensing technology along with personalized flow rates for every kind of injection.
The digital platform, at the time of injection, does govern pressure as well as flow rate of local anesthesia. It is all the more comfortable as compared to a syringe and does reduce anxiety. It is also capable of doing away with contractual numbness. The surgeons could, thus, plan surgical procedure way ahead of time and render precision. With these anesthesia systems, surgeon’s tools could be navigated as per a pre-specified method for effectively and safely placing injection in exact pre-planned locations.
Portable anesthesia systems have proven to be effective in prescription of medicine in intra-articular space. This, thereby, eliminates requirement of manual syringe for locating intra-articular space and minimizes probability of error while injecting medication’s exact quantity. At the same time, higher cost of portable anesthesia systems is expected to restrain the portable anesthesia systems market in the forecast period.
Future Market Insights has walked through these facets with future perspectives in its latest market study entitled ‘Portable Anesthesia Systems Market’. Its team of analysts and consultants is there to deploy bottom-up approach in its primary, secondary, and tertiary modes of research.
“With exploding geriatric population coupled with growing frequency of chronic ailments, the global portable anesthesia systems market is expected to grow on a splendid note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Portable Anesthesia Systems Market
• North America holds a sizable market share with the US being subject to exceptional surgical procedure standards coupled with innovation by the key participants. As of the year 2022, North America holds more than 30% of the market share.
• The Asia-Pacific is expected to grow at the fastest rate in the portable anesthesia systems market in the near future growing awareness amongst patients and physicians regarding treating spinal disorders with better safety and precision; that too, with robots being widely adopted by medical institutions for surgical procedures.
• Europe holds the second-largest market share with the UK, France, and Germany leading from the front.
Competitive Systems
• Ronvig Dental, in May 2021, came up with CALAJECTTM; computer-assisted local anesthesia. It was adjudged as ‘2022 Top Award Winner – Anesthetic Device’ by Dental Advisor. Palatal injections could also be performed with minimal pain to patient.
• Drager, in January 2020, did announce introducing a new-fangled series of anesthetic workstations meant for simplifying working processes for biomedical workers and clinical staff for facing any of the obstacles.
• Mindray, in October 2020, did announce launching A8 and A9 anesthetic systems in Europe as well as the other regions. They would aid anesthesiologists with tools needed for ascertaining safety of patients; right from induction to recovery.
• Mindray, in January 2019, floored A-Series Advantage Anesthesia Delivery platform, which is a state-of-the-art family of the anesthesia solutions including A4, A5, and A7 Advantage systems.
• Getinge, in March 2022, did announce that it had inked an anesthesia contract with Premier, Inc. The latter is known as a healthcare improvement company covering close to 4,400 hospitals and health systems in the US and over 225K other organizations and providers to help company in healthcare sector’s further expansion.