Ultra-low Temperature Freezers Market Profile, Trends and Applications By 2027

 According to the MRFR reports, the global ultra-low temperature freezers market is projected to acquire a market size of approximately USD 989.44 million and record a robust CAGR of 5.67% until 2027.

Ultra-low temperature freezers are the ones used for medicinal purposes. The global ultra-low temperature freezers market is primarily driven by the greater need for units that could effectively store drugs, bacteria, viruses, pieces of tissue, cellular solutions, enzymes, and other chemicals at extremely low temperatures. Furthermore, the factors such as heavy investments by major market players in research and development and continuous technological advancements are also anticipated to catalyze the market's growth over the forecasted era. However, the market growth is anticipated to be restricted by the stringent FDA regulations and the high cost of buying and maintenance.

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Segment Analysis

The global ultra-low temperature freezers market is bifurcated into numerous segments based on type, temperature, application, end-user, and region.

Based on type, the global ULT freezers market is divided into chest and upright.

The global market is split into Negative 87-150 degrees Celsius and Negative 41-86 degrees Celsius by temperature.

Based on application, the global ULT freezers market is bifurcated into drug products, biological samples, blood and blood products, and others.

The global market is split into academic and research settings, hospitals and clinics, bio-banks, and others based on end-user.

Regional analysis

The global ultra-low temperature freezers market is studied across four major regions, including the Americas, the European Union, Asia-Pacific, Middle East and North Africa.

 The American market for ultra-low temperature freezers has accounted for the maximum market share in 2019. The market was valued at USD 366.78 million in the same year and is anticipated to exhibit a healthy CAGR of over 5.35% during the review timeframe. The region is further divided into South and North America. The North American regional market is likely to lead globally due to overall spending and better infrastructure.

The European Union can be further segmented into Eastern Europe and Western Europe. The growth of the European regional market for ultra-low temperature freezers is being driven by a growing number of government initiatives to regulate the use of ULT freezers.

The Asia-Pacific regional market has recorded the fastest growth over recent times. The surge in the ULT market is caused by the governments' heavy investments in overall healthcare systems.

The ULT freezers market for the Middle East and North African region has been witnessing a record-worthy growth over the years owing to the growth of the information and examination business.

Competitive Analysis

The global market for ultra-low temperature freezers has an intensely competitive landscape. The market is easy to enter and offers several lucrative opportunities to the players worldwide. The players in the market are investing heavily in the innovation of the latest and advanced products. The list of prominent leaders in the global ultra-low temperature freezers market includes Esco Micro Pte Ltd (US), BINDER GmbH (Germany), Arctiko (UK), Stirling Ultracold (Greece), Thermo Fisher Scientific (US), Labcold (UK), Helmer Scientific (US), PHC Corporation (US), Eppendorf AG (Germany), VWR International, LLC (US), and several others.

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Recent Developments

• June 2021- the Ultra-Low Temperature (ULT) Freezers series by Thermo Scientific TSX have been upgraded completely with the addition of new features to offer industrial, biorepository, clinical, pharmaceutical manufacturing, and research laboratories with safeguards to provide environmentally sustainable protection of materials, such as reagents, biologics, cell culture media, and vaccines. Thermo Fisher Scientific's latest advanced TSX Series ULT Freezers are the only ones to provide an exterior illumination option, which eases the use by allowing rapid visual inspection of freezer health status.
• February 2021- the business unit of Godrej & Boyce, Godrej Appliances, has now added ultra-low temperature freezers to the company portfolio, which serve to vaccine cold chain storage facilities. These technologically superior medical freezers can store life-saving medical supplies, including critical vaccines under -80°C, and focus on increasing global and Indian medical cold chains.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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CBD Market Key Players, Opportunities and Global Industry Analysis To 2027

 According to the MRFR reports, the global CBD market will likely exhibit a healthy CAGR of 125.58% during the review timeframe. The Size is expected to go from USD 3,088.51 million in 2018 to over USD 2,207,162.54 million by the end of 2027.

Owing to the lack of psychoactive effects, CBD that is cannabidiol, has become the most broadly used among all other cannabinoids. CBD has several medical usages, such as reducing anxiety, cancer symptoms, pain, stress and diabetes, depression, and inflammation. The global CBD market has witnessed a record-worthy growth over recent times. The extensive usage is driving the growth of the market for CBD in ailment purposes, adequate aid from varied private organizations and government bodies, the surge in the research and development activities, the increase in chronic diseases and complications, and legalization of Marijuana in several countries. However, the stringent government policies and misconceptions and adverse effects of cannabis are likely to restrict the growth of the CBD market over the review timeframe.

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Segment Analysis

The global CBD market is fragmented into numerous segments based on the route of administration, form, source, end-user, application, product, and region.

Based on form, the CBD market is divided into liquid and solid.

The global CBD market is divided into inhalation (smoke or vapor), aerosol spray, tincture, and capsules by route of administration.

The market is divided into therapeutic grade and food grade based on product.

By application, the CBD market is split into energy drinks, neurogenerative disorders, protein bars, fibromyalgia, and diabetes.

The CBD market is divided into food & beverage and healthcare based on end-user.

Based on the source, the market is divided into inorganic and organic.

Regional analysis

The global CBD market is studied across four major regions, including the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The American regional CBD market has recorded the maximum share in the global market over recent years. The regional market's growth is attributed to the high consumption of cannabis-based products. As per WHO's reports, the American region has over 22.2 million people consuming CBD-based products aged 12 years and up.

The European regional CBD market secures the second position globally. The regional market's growth is being driven by the legalization of CBD across several parts of the region. Moreover, the approval from several renowned agencies such as the Bulgarian Food Safety Agency, Ministry of Agriculture, and Ministry of Agriculture are also anticipated to catalyze the regional market's growth. Furthermore, the growing participation of new entrants, domestic production of cannabis, and access to medical cannabis are also likely to accelerate the regional market's growth.

Competitive Analysis

The global CBD market has an intensely competitive landscape. The list of leading players in the CBD market includes Folium Biosciences, Elixinol Global Limited, Aphria Inc., Medical Marijuana, Inc., Isodiol International Inc, CBD Health Solutions, Green Roads of Florida, ENDOCA LLC, Canopy Growth Corporation Inc, Freedom Leaf, Inc LLC, CV Sciences, and several others.

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Recent Developments

• December 2021 - Sky Wellness, a leading challenger brand in the CBD consumer goods industry, extends its collection of personal wellness products with a variety targeted to relief and pain support. The selection includes six supportive relief products from body aches, discomfort, and muscle tension. The CBD collection is designed as vapes in doses, topicals, oil drops, and topicals ranging from 250 to 1500mg per bottle.
• December 2021 – a leading CBD and wellness company, Cibdol, is set to introduce its exclusive CBD Oil 2.0 range. The upgraded formula links the synergy of multiple hemp excerpts to work alongside CBD.
• December 2021 – Hemp retailer and distributor Pure CBD Vapors has announced the acquisition of Cloud9Hemp.com, a Nashville-based brand that focuses on CBD (cannabidiol) products. Established in 2014, the Tennessee-based company needed to provide a legal substitute to medical cannabis, seeing CBD derived from hemp as a completely capable option based on decades of research listing the cannabinoid's properties. Since then, the brand has developed an enormous following. Their CBD products are popular for being extremely effective and providing a wide variety of cloud-pleasing, carefully formulated product options, including vape cartridges, concentrates, tinctures, and others.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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Radiotherapy Equipment Market Landscape, Overview and Segmentation | Forecast to 2027

 In the past decade, radiotherapy equipment and devices have undergone a series of technical advances, helping them being more effective while also being easy to use and cost effective. Market Research Future (MRFR) confirms that the radiotherapy market will record a moderate CAGR of 4.7% by 2025. The latest radiotherapy tools today deliver precise and enhanced radiation dose that fosters the efficiency when it comes to targeting the tumors. The shift from 2D to 3D conformal radiotherapy that enables real-time imaging allows significant radiation conformity to the target as well as dose escalation with higher tumor control. As a result, the market demand has been escalating across the world, as technological innovations continue to trend and medical facilities like hospitals and clinics emerge as prominent end-users.

Alarming spike in cancer cases among children has raised the demand for radiotherapy, since this type of therapy is associated with lower side effects compared to chemotherapy. In view of this factor, MRFR experts assume that the market growth is expected to grow at a fantastic rate in the years to come. The International Union against Cancer revealed that in 2017, nearly 160,000 children had cancer while the deadly disease claimed close to 90,000 lives that year. This continuous growth in cancer cases among children is leading to higher demand for radiotherapy and will translate into robust market expansion in subsequent years.

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Market Segmentation

Radiotherapy industry has been considered for type, application, and end-user.

Different radiotherapy types in the market are external beam radiation therapy, systemic radiation therapy and internal radiation therapy. 

Major applications of radiotherapy include spine cancer, head and neck cancer, skin and lip cancer, prostate cancer, breast cancer, lung cancer, cervical cancer, and others.

The equipment used during radiotherapy are radiation therapy simulators, treatment planning systems and linear accelerators.

Prominent end-users in the radiotherapy industry are independent radiotherapy centers as well as hospitals.

Regional Status 

Europe, APAC or Asia Pacific, MEA or Middle East & Africa and Americas are the top markets for radiotherapy worldwide.

The American market for has been making tremendous progress and has secured the lead backed by the high per capita healthcare spending along with the tendency to adopt the latest technologies in the healthcare sector. Dramatic increase in the cases of cancer across Canada and the US also favors the regional market. Additionally, the rising spending on research activities to improve the effectiveness of radiation therapy techniques including the development of the intensity-modulated and image-guided radiotherapy has landed America at the top of the global market.

Flourishing healthcare system and the rising number of radiotherapy centers and hospitals adopting modern technologies has helped Europe secure the second lead in the global market. Significant level of awareness as well as spending on healthcare, rising cases of various types of cancer, and availability of health insurances also fortify the market value in the region. Technological innovations in radiotherapy, like IGRT, 3-DCRT and IMRT in the region have also been favorable. Meanwhile, emergence of new techniques, including stereotactic body radiation therapy has resulted in higher possibility of successful clinical results, thereby fostering the market growth in the region.

The APAC market for radiotherapy will note the fastest advancement in the next couple of years, as the government is actively working on fostering the awareness level among people about the available treatment options. Rampant demand for more effective therapies, paired with the mounting burden of cancer in the region raises the need for radiotherapy. Companies in the region are focused on making strategic movies like distribution agreements, product launches and partnerships to elevate their market rankings.

Affluent Contenders

Some of the most affluent companies in the global market for radiotherapy include Mevion Medical Systems, Inc., Hitachi, Ltd., IBA (Ion Beam Applications Sa), C. R. Bard, Inc., Panacea Medical Technologies Pvt. Ltd., Varian Medical Systems, Inc., P-Cure Ltd., Isoray Medical, Inc., Elekta AB (pub), Optivus Proton Therapy, Inc., Provision Healthcare, LLC, to mention a few.

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Latest Updates

March 2021

Science and Technology Facilities Council’s Daresbury Laboratory has boosted its capacity to now include testing of a higher number of new radiotherapy technologies. The facility will now be used for a higher number of testing and production of the linear accelerator technology, which enables delivery of extensively targeted radiation doses for the treatment of a variety of cancers such as prostate, lung, brain, breast, liver, spine, bone, pancreas, and more.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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Pharmaceutical Robots Market Insights, Solutions and Services Till 2027

 Market Research Future (MRFR) expects the pharmaceutical robots market to thrive at a stunning rate from 2020 to 2027 (review period), given the rising focus on laboratory automation.

The pharmaceutical robots market is advancing at a promising rate, thanks to the surging use of automation during manufacturing processes, combined with the high costs associated with drug discovery. These factors have raised the use of robotics in drug discovery, laboratories, and clinical trials for the automation of the procedures. Development and introduction of cost-effective and flexible pharmaceutical robots by manufacturers and the increasing approvals for their use in new laboratory and manufacturing conditions also favor the worldwide market.

Robotic, among other advanced technologies, has emerged as a powerful weapon in the fight against SARS-CoV-2. Pharmaceutical robots have been in great demand since their inception, and have now gained even more importance following the COVID-19 outbreak. Researches based on the pandemic reveal that these robots are associated with better clinical outcomes and aid reduction in complication rates. Their rising use in the pharmaceutical industry since the onset of the novel coronavirus has resulted in better work efficiency as well as accuracy while also preventing human errors.

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Stunning expansion rate of the pharmaceutical sector in emerging countries and the introduction of superior quality manufacturing technologies also benefit the market. Pharmaceutical robots have been observing a paradigm transformation over the years, as technical advances continue to surge, including high-definition microscopic cameras, motion sensors, 3D-imaging, robotic controlled catheters, data recorders data analytic systems, remote navigation systems, and more. A number of vendors are collaborating with other companies to broaden the application scope of their systems, launching new and improved robots in the market.

Market Segmentation

The global market for pharmaceutical robots has been considered for type, application, along with end-user.

Major types of pharmaceutical robots are collaborative robots as well as traditional robots. Types of traditional robots available in the global market are dual-arm robots, SCARA robots, articulated robot, cartesian robots, delta/parallel robots, and others.

Key applications of pharmaceutical robots are picking and packaging, pharmaceutical drugs inspection, and laboratory applications.

Top end-users covered in the research study are pharmaceutical companies as well as research laboratories.

Regional Outlook

Asia Pacific is most likely to be the biggest market for pharmaceutical robots in the next few years, thanks to the large-scale spending by major companies on technological advances. Robust base of a number of pharmaceutical vendors and the massive market for industrial robots will raise the demand for pharmaceutical robots in the region over the years ahead. In 2019, the top performer in the region was China, as the country houses a thriving industrial robots sector, says the International Federation of Robotics (IFR). The Robotics & Automation reveals that in 2020, China held the highest share (150,700 units) of industrial robots and their installation in the world. This can be attributed to the booming sales of the same in the country.

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The European market will be generating huge revenues in the following years, as the demand for pharmaceutical robots continues to soar in the region. The dramatic growth in the industrial robots sector along with the initiatives helmed by the European Union to encourage automation in the pharmaceutical industry will also warrant rapid business growth. Germany can expect to take the lead in the region, given the strong technological base and the hordes of target companies established in the country.

Top Competitors

The affluent pharmaceutical robots manufacturers covered in the MRFR review study are Marchesini Group S.p.A (Italy), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), FANUC Corporation (Japan), ABB Ltd. (Switzerland), Denso Corporation (Japan), Mitsubishi Electric Corporation (Japan), Universal Robots A/S (Denmark), Shibuya Corporation (Japan), Kawasaki Heavy Industries Ltd. (Japan), Seiko Epson Corporation (Japan), and more.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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Medical Tourism Market Opportunities, Sales, Cost and Profit By 2027

 Medical Tourism Market Scope

Market Research Future (MRFR) presumes that the medical tourism market will be worth USD 77.30 Billion by 2027. The medical tourism industry should capture close to 20.5% CAGR between 2020 and 2027 (analysis period).

Medical tourism offers a host of advantages such as latest medical technologies, cost-effectiveness, better healthcare, modern devices, better hospitality, innovative medicines, and personalized care. The medical tourism industry is touted to witness exponential growth in the years to come, in view of the dramatic rise in the number of surgical procedures that do not fall under insurance coverage, like gender reassignment operations, fertility treatment, dental reconstruction, and cosmetic surgery.

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Mounting unmet medical needs force people to opt for regions offering cost-efficient treatment options. Developments in hospital management also facilitate advances in the medical tourism field, while the appeal of comfortable as well as luxurious stays in medical facilities foster the market share as well. The blossoming geriatric patient base combined with the surging purchasing capacity of the middle-class populace will further uplift the position of the medical tourism industry in subsequent years.

Prominent hubs of medical tourism in Asia Pacific are Thailand, Singapore, Malaysia, Taiwan, India, South Korea, and Japan. Private hospitals as well as global investors see APAC as a highly lucrative business opportunity, leading to sizeable investments in equipment, infrastructure, services, and staff. Not to mention, the Middle East is home to several medical tourism powerhouses, with medical services in these countries gaining popularity owing to their low costs, non-existent queues, and English-speaking, skilled staff.

COVID-19 Impact on the Global Market

The COVID-19 outbreak has had a brutal effect on the medical tourism industry, given the strict lockdown rules, restricting the movement of goods as well as people.  In addition, the rising focus of the healthcare workers on managing the novel coronavirus instead of on other cases, the medical tourism market’s value dropped to a large extent. The shutdown of major airlines worldwide following the pandemic also cut down the number of medical tourists.

An overburdened healthcare sector all over the world, in line with shortage of doctors and other medical staff further affected the medical tourism industry. Sharp fall in pharmaceutical production has also been unfavorable for the global market.

Market Segmentation

The medical tourism market has been segregated into treatment type.

The treatment types discussed in the review report include fertility/IVF treatments, oncology/cancer treatments, orthopedic/spine treatments, neurology/neurosurgery treatment, dentistry treatments, cardiovascular/cardiology treatments, and cosmetic treatments.

Regional Insight

The Asia Pacific market for medical tourism is the highest gainer, thanks to the fast-developing countries with improving healthcare infrastructure. APAC forms the biggest share of 43.7% in the global industry, in response to the huge spending on technological advancements and development of cutting-edge medical machinery and equipment. South Korea is a thriving market for medical tourism in the region, with cosmetic procedures enjoying the highest demand among tourists.

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Thailand’s promising growth is also noteworthy, as the country offers medical tourists cheaper priced cosmetic treatment options. Escalating number of private hospitals, and advances in the healthcare infrastructure add to the APAC market’s worth. However, MRFR recognizes India as an attractive destination as well, with a hoard of medical tourists from developed economies coming here for ayurvedic massages and aromatherapeutic procedures. The availability of top-class, highly skilled medical expertise at reasonable prices in the country attracts patients from overseas. The most extensive demand is witnessed by high-end surgical procedures in India, including hip/knee replacement, cardiac bypass surgery, and more.

Significant Industry Firms

Some of the top firms in the medical tourism industry include Schoen-Kliniken, Samitivej PCL, CHRISTUS MUGUERZA, Anadolu Medical Center, Prince Court Medical Centre, Bangkok Hospital, Fortis Healthcare, Gleneagles Global Hospitals Group, Clemenceau Medical Center, Shouldice Hospital, Bumrungrad International Hospital, Asklepios Kliniken Verwaltungsgesellschaft mbH, to list a few.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

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Healthcare Big Data Analytics Market SWOT Analysis, Demand and Emerging Trends To 2027

 Healthcare Big Data Analytics Market Overview

The massive data being generated in the healthcare sector is a key driver behind the development of the healthcare big data analytics market. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. healthcare big data analytics market is projected to register a valuation of USD 60,966.8 million by 2025, at a CAGR of 24.98% over the forecast period.

The enhanced accessibility to investment is estimated o create lucrative options for development in the healthcare big data analytics market through the forecast period. Moreover, the need to have robust systems in place during an emergency as the current pandemic is projected to benefit the healthcare big data analytics market.

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Segmental Analysis

The healthcare big data analytics market's segmental appraisal is carried out based on type, product, application, delivery mode, end user, and region. The healthcare big data analytics market's end user segment consists of population health analytics, clinical analytics, financial analytics, operational & administrative analytics, and others. The product segment of the healthcare big data analytics market consists of hardware, software, and service. The healthcare big data analytics market's application segment consists of financial analytics, operational & administrative analytics, clinical analytics, and population health analytics. The type segment of the healthcare big data analytics market consists of prescriptive analytics, predictive analytics, and descriptive analytics. The mode of delivery segment of the healthcare big data analytics market consists of on-premise and cloud-based model. The healthcare big data analytics market's region segment consists of Europe, Asia Pacific, Americas, and other prominent regional markets.

Detailed Regional Analysis 

The healthcare big data analytics market's regional study consists of Europe, Asia Pacific, Americas, and other prominent regional markets. The Americas regional market directed the worldwide market for healthcare big data analytics due to the increasing implementation of big data and analytics solutions by healthcare bodies to make their enterprise more data-driven and growing healthcare spending. The European healthcare big data analytics market is second in the global market. The collective implementation of healthcare insurance, mounting strategic alliances and collaborations in the healthcare sector for data management, and flourishing investments in the healthcare industry in the region are anticipated to drive the European regional market's development. The Asia Pacific is the fastest-growing region in the healthcare big data analytics market through the forecast period due to collective demand for improved healthcare amenities, the incidence of a huge patient group, and an upsurge in government backing for healthcare IT in the region. The countries in the Asia Pacific are accepting advanced technology in the healthcare sector, fueling the healthcare big data analytics market growth in this region.

Competitive Analysis

The rise in acquisitions and mergers is estimated to recreate an encouraging environment for the players, leading to several new product offerings. The government support is estimated to have a positive scope for the development in several key areas of the global market. The use of online channels is estimated to gain more precedence as the market comes to terms with the new business realities. The promotion of international trade is predicted to create a promising overall effect on the market, with many companies choosing this period to test new and untapped markets. The advancement in the global distribution chains is estimated to further enrich the market's progress in the coming period. The market is estimated to move forward with caution due to the experiences gained during the pandemic. The surge in innovation and resynchronization of the operation and distribution cycle is estimated to create a constructive situation for the overall market's future.

The promising companies in the healthcare big data analytics market are Cerner, Medeanalytics, Cotiviti (Verscend Technologies), SAS Institute Inc., Citiustech, Health Catalyst, IBM, Inovalon, Allscripts Healthcare Solutions, McKesson Corporation, Optum, Oracle, and SCIO Health Analytics (An EXL Company).

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Industry Updates:

Mar 2021 Cerner has confirmed its USD 375 million cash purchase of Kantar Health, a life sciences data and analytics research company. The contract is a portion of a bigger strategy to cultivate Cerner's data-as-a-service contributions into a billion-dollar revenue concern over the next few years. With Kantar, Cerner will radically expand its competence in clinical research support, branding guidance, commercial planning, and marketing insights to serve life science clienteles. The Kantar purchase is one of several connected initiatives in Cerner's budding data-as-a-service line of business.

Mar 2021 Clarify Health, an enterprise analytics company, has secured USD 115 million in series C funding to increase its self-service healthcare analytics cloud and business software. Clarify Health unites longitudinal information for more than 300 million "exclusive patient lives" from government and commercial entitlements, electronic health records (EHRs) and prescriptions. This data can assist healthcare professionals in managing population health and commercialize biotechnology and pharmaceutical products.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact us:

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Infusion Pumps Market Size, Share, Outlook and Challenges | Forecast to 2027

 As per the reports by MRFR, the global infusion pumps market is likely to attain a size of over USD 18.30 Billion by 2026. The market is anticipated to project a healthy CAGR of over 8.2% during the review timeframe.

Intravenous infusion pumps are exploited to direct hormones, nutritional fluids, and medications into the circulatory system through the veins in precise amounts. Infusion pumps are installed in clinical settings such as homes, hospitals, and nursing homes. Their use in dispensing critical fluids, which consist of high-risk medications, is projected to boost the market over the future years.

The global infusion pumps market has been witnessing massive growth over recent years. The market's growth is primarily being driven by the growing use of infusion pumps for drug delivery. Furthermore, factors such as the growing occurrence of chronic diseases and rising demand for infusion systems from the military medical units are also likely to impact market growth. Additionally, the rise in technological advancements in the field is expected to provide market players with lucrative opportunities. However, the growing concerns regarding patient safety and lack of proper medical infrastructure in developing economies will likely hamper market performance.

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Segment Analysis

The global infusion pumps market is divided into numerous segments based on type, application, end-users, and region.

Based on type, the global market for infusion pumps is divided into syringe pumps and volumetric pumps.  The infusion pumps market is bifurcated into pediatric, gastrointestinal diseases, diabetes, and chemotherapy by application. The global market for infusion pumps is split into homecare, ambulatory surgical centers, and hospitals based on end-user.

Regional Analysis

The global market for infusion pumps is studied across five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.

The North American regional market for infusion pumps is anticipated to lead the global market over the forecasted timeframe. The region is recognized as being a major base for the leading players in infusion pumps manufacturing. Advanced technologies are driving the growth of the regional market. The regional market is projected to attain a size of USD 3.49 billion by the end of 2023.

The infusion pumps market for the European region is expected to contribute a substantial share of approximately USD 3.11 billion in earnings by the end of the review timeframe. The regional market's growth is being propelled by the growth in disposable income per person, refining economies, and expansions in the healthcare sector.

The Asia-Pacific infusion pumps market is anticipated to exhibit the highest rate of growth over the assessment timeframe. The speedy development of the regional market is being driven by the presence of openings for continuously growing economies in the region.

Competitive Analysis

The global market for infusion pumps has an intensely competitive landscape. The players in the market are adopting numerous strengthening strategies for growing their footprint in the market globally. The list of prominent leaders in the global infusion pumps market includes Terumo Medical Corporation, ICU Medical, Inc, Becton, Dickinson and Company, BRAUN MELSUNGEN AG, Smiths Medical, Fresenius Kabi AG, Baxter, 3M, and several others.

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Recent Developments

October 2021- Ivenix, a medical technology innovator, has announced a collaboration with Eastman to incorporate Eastman Tritan™ MXF copolyester into its groundbreaking Ivenix Infusion System. The latest system is comprised of a portfolio of administration sets, a large-volume infusion pump, and a suite of IV management tools and analytics to inform care and advance clinical and operational efficiency. Ivenix chose Tritan MXF for the pump exterior, given its outstanding durability and chemical resistance in the face of the aggressive disinfection protocols required to prevent the spread of healthcare-associated infections (HAIs).

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