ENT Devices Market - Future Revenue Growth Trends, Globally..!

 Global Industry Growth Boosting Factors:

# High prevalence of ENT disorders or diseases
# Rapidly growing aging population
# Favorable reimbursement scenario for ENT procedures in developed countries
# Growing adoption of minimally invasive ENT procedures such as Benefit of Balloon Sinuplasty/Sinus Dilation over Convention Sinus Surgeries

COVID -19 Impact on the ENT Devices Market

COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic.

The outbreak of COVID-19 has led to delays in clinical operations. This can negatively impact the market growth to a certain extent. For instance, ENT device companies, including major players, such as Smith & Nephew and Cochlear Limited, have announced clinical trial delays.

While COVID-19 had a negative impact on the ENT devices market last year, a total of 28.4 million operations have been postponed or canceled during the 12-week COVID-19 surge. Of these cases, 2.3 million were related to cancer treatment or diagnosis. The case types that were most likely to be postponed or delayed were those related to benign diseases, orthopedic, or ENT.

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Expected Growth Rate:

The global ENT Devices market size is projected to be growing at a healthy rate of 6.6% during the forecast period.

Major Objectives of This Study:

# To define, describe, and forecast the global ENT Devices market based on product, end user, and region.

# To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges).

# To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the total market.

# To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.

# To forecast the size of market segments with respect to four main regions—North America, Europe, Asia Pacific and the Rest of the World (RoW).

# To strategically profile key players and comprehensively analyze their product portfolios, market shares, and core competencies.

# To track and analyze competitive developments such as acquisitions, new product launches, expansions, regulatory approvals, and agreements in the ENT Devices market.

OPPORTUNITY: Growing healthcare market in emerging economies

Developing economies such as China, India, and LATAM (Latin American) countries represent significant growth opportunities for players in the ENT devices market. According to OECD, the global middle-class population is estimated to increase from 1.8 billion in 2009 to 4.9 billion in 2030. Asia is expected to account for 66% of the global middle-class population by 2030. In countries such as China and India, the growth in purchasing power is enabling people to purchase technologically advanced ENT devices, thereby fueling the growth of the market.

Moreover, factors such as less stringent regulatory policies, rapid urbanization, improving healthcare facilities, rising disposable income, and rapidly aging elderly population open an array of opportunities for the growth of this market in emerging economies.

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Geographical Growth Dynamics:

North America accounted for the largest share of the ENT Devices market in 2020

Based on the region, the ENT Devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2020, North America accounted for the largest share of the ENT Devices market. The large share of North America can primarily be attributed to the increasing favorable reimbursement scenario for ENT procedures and the strong presence of major market players in this region.

Key Developments, Globally:

# In 2020, Sonova holding AG expands its ENT product development and commercial manufacturing by setting up World of Hearing, which is a new store concept in the field of hearing solutions in the Netherlands Sonova holding AG launched new technology and enabled fully remote hearing aid fittings. In 2020, Sonova holding AG launched new technology and enabled fully remote hearing aid fittings.

# In 2020, William Demant holding A/S launched different products that include new premium audio brand EPOS, Oticon’s remote care solution offers a new tool to hearing care professionals, EPOS brings gamers ‘out of this world’ premium audio equipment to perfect the immersive gaming experience, greener hearing aid packaging, new ground-breaking hearing aid technology in all its four hearing aid brands, namely, Oticon, Philips HearLink, Bernafon, and Sonic.

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Emerging Technological Advancements in Lung Cancer Surgical Procedures

 Global Industry Growth Boosting Factors:

# Increasing incidence of lung cancer
# Increasing emphasis on early diagnosis & treatment of cancers
# Rising technological advancements in lung cancer treatment
# Availability of reimbursements

Overview of This Study:

This study involved four major activities in estimating the current size of the lung cancer surgery market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate segments and subsegments' market size.

COVID-19 Impact on Global Lung cancer treatment market

COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 moved from a regional crisis to a global pandemic in just a few weeks. The number of cancer screening and diagnostic procedures declined precipitously, with countries worldwide affected by the pandemic. An initial analysis of the US market shows that newly diagnosed metastatic non-small-cell lung cancer patient volumes have declined just over 30% from February 2020 to March 2020—this represents a major decline in just one month. This also impacted rate of surgeries that benefit certain patients.

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Expected Growth Rate:

The global lung cancer surgery market is projected to be growing at a healthy rate of 3.8% during the forecast period.

Major Objectives of This Study:

# To define, describe, and forecast the lung cancer surgery market, by surgical devices, surgical procedures, and region.

# To provide detailed information regarding the major factors influencing the growth of the lung cancer surgery market (drivers, restraints, opportunities, and challenges).

# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.

# To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.

# To forecast the revenue of lung cancer treatment market segments with respect to four main regional segments, namely, North America, Europe, Asia, and Rest of the World.

# To profile key players in the market and comprehensively analyze their product portfolios, market positions, and core competencies.

# To track and analyze competitive developments such as collaborations, partnerships, acquisitions, expansions, and product launches in the lung cancer surgery market.

# To benchmark players within the market using the proprietary "Competitive Leadership Mapping" framework, which analyzes market players on various parameters within the broad categories of business and product strategy.

Challenges: The dearth of skilled oncologists

To achieve better outcomes, lung cancer surgeries are performed by skilled professionals. These surgeries are considered to involve more risks when compared to other surgeries due to challenges such as air leaks, movement of tumors due to breathing, and accumulation of fluids in the chest during the procedure. Over the years, the incidence and prevalence of lung cancer have increased and are expected to increase further in the coming years. However, there has not been a subsequent growth in the number of oncologists; this situation is more pronounced in developing countries. The rise in demand is driven by factors like the aging and growth of the population and improvements in cancer survival rates; however, the slow/ lagged growth in the skilled labor is attributed to factors like the oncology workforce is aging and retiring in increasing numbers.

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Geographical Growth Dynamics:

North America is the largest regional market for lung cancer surgery market

In 2020, North America accounted for the largest market share. The large share of North America can be attributed to rising technological advancements in lung cancer treatment, increasing incidence and prevalence of lung cancer, rising trend of smoking tobacco, increasing emphasis on early diagnosis & treatment of cancers, and the availability of reimbursement.

Key Developments, Globally:

# In May 2021, Olympus Corporation (Japan) launched BF-UC190F endobronchial ultrasound (EBUS) bronchoscope.

# In February 2020, Intuitive Surgical Inc. (US) acquired Orpheus Medical (US).

# In October 2019, KLS Martin Group (Germany) opened a new training center at its site in Jacksonville, Florida, US.

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Stem Cell Banking Market - Future Growth Trends Across Geographies

 Global Industry Growth Boosting Factors:

# Growing Awareness on the Therapeutic Potential of Stem Cells
# Development of Novel Technologies for Stem Cell Preservation, Processing, and Storage
# Increase in HematopOIEtic Stem Cell Transplantation Procedures
# Increasing Investments in Stem Cell-Based Research

Restraint: High operational costs of stem cell banking

Cell banks, tissue banks, and biobanks incur significant expenditure during the sample processing, quality testing, and sample preservation and storage processes. This does not include spending on the purchase and maintenance of premium-priced instruments, reagents, and consumables. This results in high operational costs for service providers. Moreover, increasingly stringent and mandatory regulatory requirements related to stem cell preservation and banking—as well as the costly licensing/approval process for the establishment of stem cell banks in developed nations—are expected to further contribute to the overall operational costs for stem cell banking service providers.

Key Questions Addressed by the Report:

# What are the growth opportunities related to stem cell banking market across major regions in the future?
# Emerging countries have immense opportunities for the growth and adoption of stem cell banking. Will this scenario continue in the next five years?
# What are the various types of stem cell banking services and their market share in the overall market?
# What are the new trends and advancements in the applications segment?

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Expected Growth Rate:

The global stem cell banking market is projected to be growing at a healthy rate of 8.4% during the forecast period.

Key Market Players:

As of 2017, the global stem cell banking market was dominated by Cord Blood Registry (CBR) Systems (US), Cordlife Group Limited (Singapore), Cryo-Cell International (US), and ViaCord (US). Other key players in the stem cell banking market included Cryo-Save AG (Netherlands), LifeCell International (India), StemCyte (US), Global Cord Blood Corporation (China), Smart Cells International (UK), Vita34 AG (Germany), and CryoHoldco (Mexico), among others.

Cord Blood Registry (CBR) Systems held the leading position in the global stem cell banking market in 2017. The company has a widespread presence and large customer base in the US. The company primarily focuses on advancing its umbilical cord preservation services through the adoption of inorganic growth strategies such as collaborations and partnerships. In regard to this, in 2017, the company collaborated with the New York Stem Cell Foundation (US) to develop induced pluripotent stem cells from umbilical cords.

Cordlife secured the second position in the global stem cell banking market in 2017. The company is a leading player in the Asian stem cell banking market with its robust presence across eight countries and high-quality services. To sustain its leading position in the Asian region, the company mainly focuses on increasing its customer base through agreements. For instance, in 2017, the company entered into an agreement with IPS Trading and Service Joint Stock Company (Vietnam) to offer umbilical cord banking services and non-invasive metabolic newborn screening in Vietnam.

Cryo-Cell International held the third position in the stem cell banking market in 2017. The company is one of the key private stem cell banking providers in the global market. The company’s key strengths are its significant geographic presence and unique state-of-the-art technology for banking operations. The company mainly focuses on acquiring patents for the collection, testing, processing, and preservation of umbilical cord blood and tissues.

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Geographical Growth Dynamics:

North America is expected to dominate the stem cell banking market in 2019

Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share in 2019. The expanding network of stem cell banking services across the region, ongoing approval of stem cell lines for disease treatment (especially for hematopoietic & autoimmune disorders), recent technological advancements in the field of stem cell collection and preservation techniques, and rising public-private investments for stem cell researches are driving the growth of the stem cell banking market in North America.

Key Developments, Globally:

# In 2017, Life Cell International (India), launched upgraded and enhanced its umbilical cord collection kit.

# In 2017, Vita34 AG (Germany) acquired Seracell Pharma AG (Germany) to strengthen its position in the German stem cell banking market.

# In 2016, StemCyte India Therapeutics Pvt. Ltd. (India), a subsidiary of StemCyte (US) received accreditation from The Foundation for the Accreditation of Cellular Therapy (FACT) for both public and private stem cell banking services.

# In 2015, Cord Blood Registry (CBR) Systems (US) entered into a collaboration agreement with New York Stem Cell Foundation (US) to develop induced pluripotent stem cells from umbilical cords.

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API Manufacturing - Reasons Behind Constant Need of Tech Advancements

 Global Industry Growth Boosting Factors:

# Increasing incidence of chronic diseases
# Technological advancements in API manufacturing
# Growing importance of generics

COVID-19 impact on the Active Pharmaceutical Ingredient Market

With the WHO declaring the COVID-19 outbreak a pandemic, a mix of established pharmaceutical and biopharmaceutical companies, as well as small startups, have stepped forward to develop treatments that target the infection. In just a few weeks, scientists found a list of molecules that target COVID-19. Currently, around 155 molecules are under clinical investigation, and 45 molecules are under preclinical development to be targeted against COVID-19. In this list, there are four promising drugs (Remdesivir, Chloroquine & Hydroxychloroquine, Lopinavir & Ritonavir, and Lopinavir with Ritonavir plus Interferon beta-1a) that have been repurposed for use against COVID-19.

On March 24, 2020, the WHO announced that it had initiated a global mega trial of the four most promising drugs against COVID-19. Countries are in a global race to develop and mass-produce an efficient vaccine to fight COVID-19. The economic and social burden of pandemics has prompted government bodies to increase funding for vaccine development on a global scale. According to the WHO, as of June 2020, there were over 140 vaccines in various stages of development.

Of these, 13 are now in the human clinical trial stage, while others remain at the very early stages of preclinical testing. Increase in funding and research for development of pharmaceutical products will drive growth for the market. However, coronavirus outbreak has disrupted business and economic activities globally.in the first quarter of 2020 It is expected to have a short-term impact on the active pharmaceutical ingredients market to a certain extent.

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Expected Growth Rate:

The global active pharmaceutical ingredient market size is projected to be growing at a healthy rate of 5.8% during the forecast period.

Major Objectives of This Study:

# To define, describe, and forecast the global active pharmaceutical ingredients market based on the type, type of manufacturer, type of synthesis, type of drug, application and region.

# To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, challenges, and opportunities).

# To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall active pharmaceutical ingredients market.

# To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.

# To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia, and Rest of the World.

# To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies.

# To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and R&D activities in the active pharmaceutical ingredients market.

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Geographical Growth Dynamics:

North America was the largest regional market for active pharmaceutical ingredients market in 2019

The global active pharmaceutical ingredients market is segmented into North America, Europe, Asia, Latin America, and Rest of the World. In 2019, North America accounted for the largest share of the active pharmaceutical ingredients market, followed by Europe and the Asia.

The large share of North America in the global market is attributed to the growing incidence of preventable chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs.

However, the market in the Asia is expected to grow at the highest CAGR during the forecast period. This can be attributed to the low manufacturing costs, growth in the increase in disposable income, the high prevalence of lifestyle- and age-related diseases, and government efforts to reform healthcare industry.

Key Developments, Globally:

# In 2020, Pfizer (US) signed a multiyear agreement with Gilead Sciences to manufacture and supply Gilead’s antiviral drug (Remdesivir) for the treatment of COVID-19.

# In 2020, Novartis (Switzerland) acquired Aspen’s Japanese operations to strengthen its position in the global generics and off-patent medicines market. Novartis also entered into a manufacturing and supply agreement with Aspen.

# In April 2020, Boehringer Ingelheim (Germany) acquired Northern Biologics, which focuses on therapeutic antibodies targeting the tumor microenvironment. This acquisition broadened Boehringer Ingelheim’s oncology product portfolio.

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Drug Discovery Services Market - Major Pillars for the Global Growth

 Global Industry Growth Boosting Factors:

Growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, increasing demand for outsourcing analytical testing services, initiatives for research on rare diseases and orphan drugs, and the high cost of in-house drug development are creating new revenue pockets in the Drug Discovery Services Market. On the other hand, stringent regulations governing drug discovery and animal usage are expected to restrain market growth to a certain extent. The shortage of skilled professionals poses a challenge for drug discovery service providers.

Research Methodologies Followed for This Study:

Secondary Research:

The secondary sources referred to for this research study include publications from government sources, such as Association of International Contract Research Organizations (AICROS), American Association of Pharmaceutical Scientists (AAPS), Clinical and Contract Research Association (CCRA), Association of Clinical Research Organizations (ACRO), Clinical Research Society (CRS), Pharmaceutical Research and Manufacturers of America (PhRMA), National Center for Biotechnology Information (NCBI), Food and Drug Administration (FDA).

Primary Research:

Extensive primary research was conducted after acquiring basic knowledge about the global drug discovery services market scenario through secondary research. Several primary interviews were conducted with market experts from the demand side, such as personnel from pharmaceutical and biopharmaceutical industries, CDMOs and CROs, academic & research institutes, and experts from the supply side, such as C-level and D-level executives, product managers, marketing & sales managers of key manufacturers, distributors, and channel partners. These interviews were conducted across four major regions, including North America, Europe, the Asia Pacific, and the Rest of the World. Approximately 70% and 30% of primary interviews were conducted with supply-side and demand-side participants, respectively. This primary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews.

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Projected Surge in Revenue:

The global Drug discovery services market is projected to reach USD 31.4 billion by 2026 from USD 16.1 billion in 2021, at a CAGR of 14.3% during the forecast period of 2021 to 2026.

Major Objectives of This Study:

# To define, describe, and forecast the drug discovery services market by type, drug type, process, end user, and region.

# To provide detailed information about the major factors influencing the market growth (drivers, restraints, opportunities, and challenges).

# To strategically analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market.

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.

# To forecast the size of the market segments in North America, Europe, Asia Pacific,  Latin America, and the Middle East & Africa.

# To profile the key players and comprehensively analyze their market shares and core competencies in the global drug discovery services market.

# To track and analyze competitive developments such as product & service launches, partnerships, collaborations, agreements, expansions, and acquisitions in the global drug discovery services market.

CHALLENGE: Shortage of Skilled Personnel

The global pharmaceutical, biotechnology, and medical device R&D outsourcing industry is constantly evolving. Professionals must keep pace with the continuing changes in pharmaceutical R&D technologies and methodologies, provide quality services, and comply with good laboratory practices. CROs face challenges in attracting and retaining highly skilled professionals as they compete with pharmaceutical and biotechnology companies and academic and research institutions for qualified and experienced scientists.

OPPORTUNITY: Growth in drugs and biologics market despite Covid-19 Pandemic

Despite the ongoing COVID-19 pandemic, 2020 has been the second-best year for the pharmaceutical industry regarding the number of drugs approved by the US FDA. This year witnessed the authorization of 53 drugs—a number surpassed only in 2018 with 59 pharmaceutical agents. The 53 approvals in 2020 comprised 40 new chemical entities and 13 biologics (of which ten were monoclonal antibodies, two were antibody-drug conjugates, three were peptides, and two, oligonucleotides). The FDA authorized 160 drugs in the last three years (2018–2020), compared to the approval of only 21 drugs in 2010.

This growth in the number of approved products worldwide is attributed to the rising investments by biopharmaceutical companies to develop biologics and biosimilars. More than half of the drug candidates in the discovery stage are biologics, such as proteins, peptides, and monoclonal antibodies. Biologics are expected to contribute around half of the revenue generated by the top 100 pharmaceutical product sales in 2022.

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Global Leading Companies:

Key players in the drug discovery service Market include Laboratory Corporation of America Holdings (US), Charles River Laboratories International Inc. (US), WuXi AppTec (China), and Thermo Fisher Scientific Inc (US).

Pharmaceutical Drug Delivery Market - Rising Demand for Biosimilars and Biologics

 Major Growth Driving Factors:

Growth in the Pharmaceutical Drug Delivery Market can largely be attributed to factors such as the rising prevalence of chronic diseases, the growing biologics market, increasing investments in pharmaceutical R&D, and increasing technological advancements. The rising demand for biosimilars & biologics and self-administration & home care provides a wide range of growth opportunities for key players in the market.

On the other hand, the risk of needlestick injuries and the increased pricing pressure is expected to limit the market growth to some extent in the coming years. Further, the COVID-19 pandemic affected world economics, including the pharmaceutical sector. While currently there is no definitive treatment for this novel infectious disease, the pharmaceutical industry is assisting government bodies to address the COVID-19 unmet needs, from R&D actions on potential treatment and prevention strategies to balancing the medicines supply chain in the time of crisis.

Projected Revenue Surge:

The global pharmaceutical drug delivery market is projected to reach USD 2,206.5 billion by 2026 from USD 1,656.9 billion in 2021, at a CAGR of 5.9% during the forecast period.

Challenge: Pricing pressure

Government bodies in both developed and developing countries are encouraging cost-saving measures, such as cutting drug reimbursement prices and promoting the greater use of generics. Drug manufacturers across the globe are facing significant cost reduction pressures from government bodies, insurers, and patients. This downward pricing pressure is resulting in the greater uptake of drugs in emerging markets where the demand for low-cost therapeutics is high.

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The infectious diseases segment is expected to account for the largest share of the pharmaceutical drug delivery market

Based on application, the pharmaceutical drug delivery market is segmented into cancer, infectious diseases, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, and other applications. In 2020, the infectious diseases segment accounted for the largest share of the pharmaceutical drug delivery market. The large share of this market segment can be attributed to the increasing prevalence of infectious diseases across the globe, increasing R&D expenditure for new drugs owing to the current COVID-19 pandemic scenario, and the rising number of FDA approvals for such drugs.

The topical drug delivery segment is expected to grow at the highest CAGR during the forecast period

Based on route of administration, the pharmaceutical drug delivery market is segmented into oral, pulmonary, injectable, ocular, nasal, topical, implantable, and transmucosal drug delivery. The topical drug delivery segment accounted for the highest CAGR of the pharmaceutical drug delivery market. This can be attributed to convenience and the ease of use, the ease of dosage, painless and non-invasive administration, and enhanced patient compliance.

Recent Developments:

# In July 2021, Johnson & Johnson received FDA approval for DARZALEX (daratumumab), a subcutaneous formulation that reduces the treatment time for multiple myeloma indications.

# In December 2020, Pfizer, Inc. received FDA approval for BRAFTOVI (encorafenib) plus combination with cetuximab for the treatment of patients with brafv600e-mutant metastatic colorectal cancer (CRC) who have undergone prior therapy.

# In November 2020, GlaxoSmithKline plc partnered with IDEAYA to enter the field of Synthetic Lethality, an emerging field in oncology; programs MAT2A, Pol Theta, and Werner Helicase programs, which are part of it, are projected to reach clinical trials in the next three years.

Asia Pacific is expected to account for the highest CAGR for players operating in the pharmaceutical drug delivery market

During the forecast period, the Asia Pacific is expected to be the fastest-growing regional market for pharmaceutical drug delivery. The rapid rise in the geriatric population, increased prevalence of chronic diseases, increased healthcare expenditure, increased R&D activities conducted in this region, growth in technological collaborations for pharmaceutical drug delivery technologies, favorable reimbursement policies, and growth in disposable incomes in the emerging Asian economies, such as China and India, are factors that are expected to drive the growth of the APAC market during the forecast period.

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Key Market Players:

Major players in this market include Johnson & Johnson (US), Novartis International AG (Switzerland), F. Hoffmann-La Roche AG (Switzerland), Pfizer Inc. (US), Bayer AG (Germany), Antares Pharma, Inc. (US), Becton, Dickinson and Company (US), GlaxoSmithKline plc (UK), 3M (US), Merck & Co., Inc. (US), Sanofi (France), Amgen, Inc. (US), AbbVie Inc. (US), Genmab A/S (Denmark), Gilead Sciences, Inc. (US), Boehringer Ingelheim (Germany), AstraZeneca plc. (UK), Eli Lilly and Company (US), Teva Pharmaceuticals Industries Ltd. (Israel), Bristol-Myers Squibb (US), Gerresheimer AG (Germany), Boston Scientific Corporation (US), Nimbus Therapeutics (US), Kite Pharma (US), and IDEAYA Biosciences, Inc. (US).