Market Industry Forecast News

Industry 4.0 Market Addresses Challenges in Legacy Systems Integration

The global Industry 4.0 market size is expected to reach USD 627.59 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 19.9% from 2023 to 2030. The growth of the market is attributed to the widespread adoption of the Internet of Things (IoT) devices and sensors, facilitating seamless data integration, while the infusion of Artificial Intelligence (AI) and Machine Learning (ML) is propelling predictive analytics and autonomous operations. Furthermore, the rising consumer spending on digitalization and cutting-edge factory solutions will increase demand for Industry 4.0 solutions.

Industry 4.0 emphasizes the creation of interconnected ecosystems where devices, machines, and systems communicate and collaborate seamlessly. This trend leads to streamlined information flow, enabling real-time decision-making based on accurate and up-to-date data. Edge computing, which processes data closer to its source, and cloud integration are trends supporting this interconnection. The deployment of Industry 4.0 solutions optimizes resource utilization, energy consumption, and overall process efficiency. With real-time data collection and analysis, companies gain insights into operational bottlenecks, allowing for timely adjustments and continuous improvement. Trends, such as digital twins (virtual replicas of physical assets), enable simulation and optimization of processes, thereby enhancing efficiency.

Order a free sample PDF of the Industry 4.0 Market Intelligence Study, published by Grand View Research.

The transition to Industry 4.0 requires a workforce with the necessary skills to operate and maintain advanced technologies. However, there is often a shortage of workers with expertise in data analytics, robotics, and cybersecurity. Businesses may need to invest in training and upskilling programs to ensure that their workforce can effectively leverage Industry 4.0 technologies. Implementing Industry 4.0 technologies often requires a significant upfront investment. The costs associated with acquiring and deploying advanced machinery, sensors, data analytics systems, and connectivity infrastructure can be substantial. Small and medium-sized enterprises (SMEs) may face financial constraints in adopting these technologies, limiting their ability to compete with more prominent industry players.

In the evolving market, the robotics and automation trend encompasses several transformative elements, including collaborative robots designed for safe human interaction and the integration of intelligent Robotic Process Automation (RPA) that streamlines repetitive tasks and processes. Advanced sensing and perception capabilities enable robots to interact more effectively with their environment, bolstering accuracy and adaptability. Furthermore, the infusion of AI and ML empowers robots to learn, adapt, and make real-time decisions, augmenting their problem-solving ability.

The North America regional market growth is driven by the need to address labor shortages and rising operational costs. Automation and robotics were integrated into manufacturing processes to perform repetitive tasks, reducing the reliance on manual labor. This shift not only improved efficiency but also enhanced workplace safety. With improved cost-effectiveness, regional manufacturers were better positioned to compete globally. IoT played a pivotal role by connecting devices and machinery to the internet, enabling real-time data collection and analysis. This data-driven approach allowed companies to monitor equipment performance, predict maintenance needs, and optimize production processes. The insights from IoT-powered analytics enhanced decision-making reduced downtime, and minimized resource wastage.

Industry 4.0 Market Report Highlights

Industry 4.0 marks the next phase of manufacturing digitization, driven by disruptive trends like connectivity, data, human-machine interaction, analytics, and robotics. It also includes the enhancement of manufacturing efficiency through the integration of technology and automation into both production and managerial workflows
The demand for IoT is increasing in most sectors, and the role played by solution providers and vendors is further contributing to its extravagant growth. Numerous initiatives at the industry level have been promoting and advertising IoT applications and their use cases
Industry 4.0 thrives on data collection and analysis. With the proliferation of sensors and connected devices, companies gather vast amounts of data that can be leveraged for informed decision-making
The consistent advancement of additive manufacturing technologies has led to heightened capabilities in terms of precision, speed, and scalability. Innovations in materials, printing techniques, and post-processing methods have collectively contributed to making 3D printing a feasible and effective solution across industries

List of Key Players in the Industry 4.0 Market

ABB Ltd.
Cisco System Inc.
Cognex Corporation
Denso Corporation
Emerson Electric
Fanuc Corporation
General Electric Company
Honeywell International Inc.
Intel Corporation
Johnson Controls International
Kuka Group
Robert Bosch GmbH
Rockwell Automation Inc.
Schneider Electric SE
Siemens AG

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Hospital Bed Management Systems Market Promotes Collaboration Across Departments

The global hospital bed management systems market size is expected to reach USD 3.8 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 10.31% from 2023 to 2030. The key factors driving the market growth include the rising incidence of chronic and infectious diseases, increasing geriatric population, and growing adoption of real-time bed management in hospitals. Furthermore, increasing awareness of hospital supportive and friendly software for smooth functioning of bed allotment and rising number of hospitals and clinics are contributing to the market growth. As a result, the demand for growing need for hospital bed management systems is expected to rise in the near future.

Hospitals lose quality suffering and millions due to cancellations, diversions and delays around bed management. The key challenges faced by hospitals include poor coordination among caregivers, lack of data on bed status resulting in hidden beds, inefficient discharge procedures, and deprived forecasting on bed demand from hospital wards, intensive care units, and other specialized areas. Hospital bed management systems are designed to help healthcare organizations manage and maintain their hospital beds.

Order a free sample PDF of the Hospital Bed Management Systems Market Intelligence Study, published by Grand View Research.

The software offers a variety of features including optimized bed management, allocation, and tracking for effective hospital management. These features focus on improved patient care, boost overall efficiency, and enhance resource utilization. In addition, hospital bed management systems offer automated workflows, real-time communications, escalation notifications, and reduced patient wait times by coordination.

Furthermore, major players in the market are undertaking several strategic initiatives owing to the rising adoption of automation technologies. For instance, in March 2023, Masimo and Temple Health entered into collaboration with focus on hospital automation and telehealth initiatives to improve life, improve patient outcomes, and reduce the cost of care. Similarly, LeanTaaS completed the acquisition of intelligent automation solutions provider Hospital IQ developing an AI-powered hospital operations software provider valued at about USD 1 billion.

Moreover, growing government funding and initiatives are anticipated to boost market growth. As per the HIMSS Future of Healthcare Report, 80% of healthcare providers plan to boost investments in technology and digital solutions within the next five years. This initiative is projected to drive growth in various sectors, including hospital automation technologies including hospital bed management systems.

Hospital Bed Management Systems Market Report Highlights

Based on the type, the market is segmented into acute care beds, critical care bed and long-term care bed, and others.
The acute care bed segment is anticipated to dominate the global market in 2022 and expected to grow at a fastest CAGR of 10.68% during the forecast period. The growth is attributed to increasing acute care admission of patients for one to three days at the healthcare facilities.
On the basis of deployment mode, the web & cloud-based segment dominated the market with a maximum revenue share in 2022. The growth is attributed to the need to reduce maintenance expenses and ensure the smooth operation of medical equipment.
North America dominated the market with a revenue share of 40.9% in 2022. The growth of the region is driven by factors such as the increase in the increasing investments in healthcare infrastructure, rise in disposable income, and the thriving medical tourism industry in the region.
The Asia Pacific region is predicted to experience significant growth during the forecast period, owing to large patient pool, increased end-user awareness, and heavy government investment in digital transformation in the region.

List of Key Players of Hospital Bed Management Systems Market

Oracle
Epic Systems Corporation
GE Healthcare
Veradigm LLC
CentralSquare Technologies
Advanced Data Systems
Terawe Corp
Lyngsoe Systems A/S
The Access Group
EMIS Health
TeleTracking Technologies, Inc.
SAP

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Heart Pump Devices Market Highlights Role of Telemedicine in Monitoring

The global heart pump device market size is expected to reach USD 6.44 billion by 2030, expanding at 13.5% CAGR from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing prevalence of coronary artery disease, ischemic heart disease, and other CVD diseases is anticipated to boost the demand for heart pump devices. For instance, according to data published by British Heart Foundation, in 2022, about 7.6 million individuals in the UK live with heart disease, and each year, around 160,000 people die from CVD and other heart-related conditions in the UK. Moreover, according to WHO data in 2020, coronary heart disease caused 163,905 deaths in Japan, with 121,823 or 11.03% of total deaths were caused due to stroke.

Furthermore, the market is anticipated to grow by increasing support and awareness initiatives for disease awareness. For instance, in January 2022, The School of Medical Research and Technology at IIT Kanpur launched Hridyantra, a challenge-based program. Its objective is to create an advanced artificial heart called a Left Ventricular Assist Device (LVAD) for patients with end-stage heart failure (HF). Hridyantra aims to improve the available treatment options for HF patients. This program is expected to significantly improve the treatment options available for patients with HF, thereby driving market growth.

Order a free sample PDF of the Heart Pump Device Market Intelligence Study, published by Grand View Research.

Heart Pump Device Market Report Highlights

Based on type, the implanted heart pump devices segment accounted for the largest revenue share of 68.3% of the market in 2023, due to their ability to assist with pumping blood and serve as a bridge to transplantation or a permanent therapy option for HF patients.
Based on product, the ventricular assist devices (VADs) segment accounted for the largest market share in 2023. It is estimated to register the fastest CAGR of 14.8% during the forecast period; owing to the increasing prevalence of HF worldwide, the demand for VADs is anticipated to grow rapidly over the forecast period.
Based on end-use, the hospitals segment accounted for the largest revenue share of over 81.4% in 2023, attributed to the high number of surgeries performed in hospitals.
North America is expected to dominate the market with over 52.7% revenue share in 2023 due to the high prevalence of heart failure, growing aging population, and robust healthcare system.

Key Heart Pump Device Company Insights

Leading companies in the heart pump devices market are enhancing their offerings and incorporating new technologies to expand their customer reach, secure a greater market share, and diversify their application range. For example, Evaheart, Inc. launched a Lunch-and-Learn program for the Penn State staff in Hershey, Pennsylvania involved in the competence clinical trial. This program facilitates staff to seek clarifications and discuss the prospects of the EVA2 LVAD

List of Key Players in the Heart Pump Devices Market

Abbott
ABIMOD (Johnson & Johnson Services, Inc.)
Getinge AB.
LivaNova PLC
Berlin Heart
Picard Medical, Inc. (SynCardia Systems, LLC)
Jarvik Heart
BiVACOR Inc.
Leviticus Cardio
Teleflex Incorporated.

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Gym Bag Market Research Reveals Key Growth Opportunities

The global gym bag market size is expected to reach USD 2.56 billion in 2030 and is projected to grow at a CAGR of 8.1% from 2024 to 2030. The growth in the market is driven by increasing consumer consciousness regarding fitness and the availability of various products and accessories to suit individual needs. Moreover, rapid growth of the fitness and wellness sector in Asia and South America, along with rise in sales of health and fitness equipment, accessories, and products used in the industry and increasing presence of health clubs and fitness centers in these regions are contributing to the growth of this market.

The market is also driven by increasing purchasing power of consumers in developing countries in recent years, which has propelled product demand. Growth of the middle-income population group in these countries has resulted in higher disposable income in recent years. This has enabled them to opt for on-trend, fashionable, and premium products in the health and fitness sector. Surge in new product launches and the impact of ecommerce are other key factors driving the global market. Leading manufacturers are looking to cater to varying consumer requirements when it comes to a gym bag. These are then being made available across a host of online and offline distribution channels.

Order a free sample PDF of the Gym Bag Market Intelligence Study, published by Grand View Research.

Increasing number of people turning to healthier lifestyles has also inspired several multinational companies to encourage their employees to take up health and fitness club memberships, a trend that is likely to give the market a boost. Gym bags that are compatible with various smart and connected devices is a lucrative opportunity for players in the market.

Gym Bag Market Report Highlights

In terms of revenue, Duffle gym bags segment dominated the global industry and accounted for largest revenue of 71.2% in 2023
Offline distribution segment dominated the global industry in 2023. Varied products sold at supermarkets, hypermarkets, specialty stores, and others play a critical role in driving this segment
A growing health and fitness industry, fueled by increasing awareness regarding fitness and well-being among consumers, is expected to propel the market
With increasing disposable income in India, South Korea, China, and Japan, these markets offer lucrative opportunities for growth in Asia Pacific
The industry is highly competitive in nature with the main players being JensenLee; Everlast Worldwide, Inc.; Chateau Manufacturing; Harissons; Nike, Inc.; ToteBagFactory; Herschel Supply Co. USA; and Adidas AG
Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovations to estimate existing and future demand patterns from upcoming product segments

Key Gym Bag Company Insights

Some of the prominent players in the gym bag market include Herschel Supply Company, ToteBagFactory, EVERLAST WORLDWIDE INC., Under Armour, Dakine and others. To address the growing competition in the industry, key companies are adopting strategies such as innovation, inclusion of organic materials, adopting sustainability practices, effective distribution and offering newly developed products backed by consumer data insights and enhanced research.

EVERLAST WORLDWIDE INC., a global company with presence over 100 countries, offers premium range boxing equipment, apparel, footwear and accessories. Some of its related offerings include 1910 gym bag, contender duffle bag, boxing gym bags and others.
Herschel Supply Company, one of the prominent companies in bags, travel accessories, apparel and kidswear industry, offers vast product portfolio including backpacks, duffel bags, totes, hip packs, crossbodies, insulated bags, hadshell luggage, trolley sleeve bags, travel accessories, tech sleeves, pouches and more.

List of Key Players in Gym Bag Market

JensenLee
EVERLAST WORLDWIDE INC.
Nike, Inc.
ToteBagFactory
Herschel Supply Company
Adidas AG
Under Armour
The North Face
DaKine (MARQUEE BRANDS)

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Gluten-Free Pizza Crust Market Embraces Technological Advancements

The global gluten-free pizza crust market size is expected to reach USD 4.00 billion by 2030, registering a CAGR of 7.24% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increase in the impact of western culture and rise in disposable income are some of the factors for the growth of the market. Rise in the number of pizza outlets may lead to the market growth in the upcoming years.

Growing awareness related to health among people and increase in the prevalence of celiac diseases are expected to be the major factors driving the market for gluten-free pizza crust. It was surveyed that 1 in 20 Americans are diagnosed with gluten sensitivity, which may cause severe health problems. It is essential to make changes in the diets and food habits in order to decrease the occurrence of celiac disease. Thus, the bakery industry manufacturers have been developing different gluten-free pizza crust products. Pizza consumption is maximum in regions like North America and Europe.

North America held the largest share and generated a revenue of 868.80 million in 2023. The growth of market is attributed to rising awareness among consumers related to the benefits of having no gluten in the pizza crust products. Many innovative and new flavor products are launched, which may lead to the market growth.

Order a free sample PDF of the Gluten-free Pizza Crust Market Intelligence Study, published by Grand View Research.

For instance, in 2018,Schwan’s Consumer Brands, Inc. launched two new and innovative flavors of Freschetta Gluten Free Pizza during an awareness program related to celiac diseases. Tuscan style chicken and spinach and roasted mushroom ae the tow new flavors that make people not to change their taste due to different health conditions. This Freschetta Gluten-free Crust has been certified by the National Celiac Association for providing unique flavors, while considering health of people.

Asia Pacific is the fastest growing region, expanding at a CAGR of 7.9% during the forecast period. India has over half of the population that is beneath the age of 30 and is known to have the most significant young generation, thereafter China, Indonesia, and U.S. Young population may be the reason for the growth of the market during the forecast period.

Gluten-free Pizza Crust Market Report Highlights

By product, the conventional segment held more than 66.7% share of overall revenue in 2023. The organic segment is anticipated to ascend at a CAGR of 7.6% over the forecast period.
Based on end use, the retail segment accounted for a share of 38.6% in 2023 and is projected to exhibit high growth in the next few years.
S. emerged as the biggest consumer of gluten-free pizza crust in 2023 and is expected to witness significant growth over the forecast period.
North America dominated the global market in 2023, accounting for 32.4% share of the global revenue. This trend is projected to continue over the next few years.
Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.

List Of Key Players Gluten-free Pizza Crust Market

Udi’s Gluten Free (Conagra, Inc.)
Conagra Brands, Inc.
RICH PRODUCTS CORPORATION
Gillian’s Foods
Kinnikinnick Foods & Kinnikinnick Fresh Bakery
Rizzuto Foods (RICH PRODUCTS CORPORATION)
Vicolo Wholesale
Mama Jim’s Pizza, Inc.

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Supply Chain Analytics Market Challenges: Addressing Skills Gap in Data Analytics

The global supply chain analytics (SCA) market was estimated at USD 6.12 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 17.8% from 2023 to 2030. The increasing demand for SCA solutions is largely driven by heightened awareness of their benefits, which include improved forecasting accuracy, enhanced supply chain optimization, reduced waste, and the meaningful integration of business data. Additionally, the rising number of small and medium enterprises (SMEs) and their increased investment in analytics to strengthen their market positions and compete effectively are expected to further propel market growth over the forecast period.

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Segmentation Analysis:

Solution Insights

In terms of solutions, the sales and operations analytics segment held the largest market share, exceeding 28% in 2022. The need for optimizing resource utilization and reducing costs were key factors driving this segment’s growth. Clients benefit from flexible and customizable SCA solutions that can adapt to changing requirements while remaining cost-effective, contributing to the segment’s projected growth.

Logistics analytics solutions are essential for linking transportation networks with market demand forecasts and identifying product supply locations. The integration of big data within SCA enhances supply chain and logistics operations, effectively addressing customer needs and boosting satisfaction and loyalty. This trend is expected to drive growth in the logistics analytics segment over the forecast period.

The planning and procurement segment is also expected to experience significant growth, as demand forecasting in supply chain planning analytics encompasses factors like freight costs, production levels, distribution, and budgeting, which help users efficiently manage logistics operations.

Service Insights

Regarding services, the professional service segment accounted for over 60% of the market share in 2022. These services are crucial for ensuring that new systems integrate seamlessly with existing departmental systems, thereby minimizing data loss or theft. The growing demand for professional services focused on data analysis and protection, as well as expertise in emerging technologies, is contributing to this segment’s growth. However, the supply chain sector often lacks skilled professionals capable of identifying and analyzing trends that inform marketing decisions.

The support and maintenance segment is expected to register the fastest CAGR over the forecast period. Third-party support can lead to cost savings while providing access to skilled professionals. Addressing the technical complexities of software, maintaining and repairing systems, facilitating data transfers, and regularly updating software are all critical factors for the successful implementation of SCA solutions. Neglecting these areas could hinder productivity, making the demand for support and maintenance services crucial in the coming years.

Deployment Insights

In terms of deployment, the cloud segment dominated the market with over 62% share in 2022. The proliferation of technology has driven the widespread adoption of IoT devices, increasing the reliance of original equipment manufacturers (OEMs) on cloud-based platforms. Cloud deployment enhances flexibility and allows for extensive customization of products and services for organizations. The industry is particularly favoring big data analytics solutions for their advantages in data security and risk assessment. Improved mobility and user-friendliness of cloud services have further accelerated the adoption of supply chain analytics solutions on cloud platforms.

Additionally, the preference for cloud-based deployment is expected to grow, especially among enterprises in developing economies in the Middle East, Africa (MEA), and Asia Pacific, where a lack of in-house IT expertise often leads businesses to opt for cloud solutions. The increasing availability of cloud-based SCA options is expected to drive demand among small and medium enterprises due to benefits like easier deployment, shorter implementation timelines, better utilization of IT resources, and enhanced flexibility and mobility.

Enterprise Size Insights

In terms of enterprise size, large enterprises accounted for over 59% of the market share in 2022. The demand for robust monitoring solutions and automation capabilities for resource allocation and strategic decision-making fueled growth in this segment. Conversely, the small and medium enterprises segment is projected to grow at the fastest rate of 19.2% over the forecast period. This growth can be attributed to the increasing number of SMEs in developing countries such as Mexico and India, along with their need for internal network architectures for data storage.

The rising adoption of IT infrastructure among SMEs to enable digital services across various business channels is expected to contribute to the growth of this segment. Additionally, government initiatives aimed at promoting digital campaigns for SMEs globally are likely to further stimulate growth.

End-use Insights

In terms of end-use, the manufacturing segment held the largest market share at over 23% in 2022. SCA solutions in manufacturing can enhance performance by providing real-time data access across the value chain and reflecting updates across various processes within the organization. The growing demand for products and the necessity to ensure their availability and timely delivery are driving the need for improved supply chain efficiency. For instance, in April 2023, Snowflake, a data cloud company, launched the Manufacturing Data Cloud, designed for the automotive, technology, and industrial sectors. This platform allows manufacturers to collaborate effectively with suppliers, partners, and customers, ultimately improving supply chain performance and supporting smart manufacturing initiatives.

The Manufacturing Data Cloud equips manufacturers with tools to work collaboratively and securely with their partners, suppliers, and customers, enhancing agility and visibility throughout the value chain. In today’s digital industrial landscape, businesses can leverage this platform to strengthen supply chain performance, implement smart manufacturing projects, and establish a solid data foundation for their operations.

As e-commerce continues to expand and businesses strive to provide seamless delivery experiences, efficient supply chain planning has become increasingly critical. The rapid growth of the e-commerce sector, combined with the integration of big data and artificial intelligence into SCA, is anticipated to be a key driver of global demand for effective supply networks, particularly benefitting the retail and consumer goods segments during the forecast period.

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Patient Engagement Solutions Market Challenges: Addressing User Adoption and Trust Issues

The global patient engagement solutions market was valued at approximately USD 22.7 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 17.7% from 2024 to 2030. Key drivers for this growth include ongoing technological advancements, the increasing adoption of Electronic Health Records (EHR) and mobile health (mHealth) solutions, the rising prevalence of chronic diseases, supportive initiatives from major stakeholders, and a growing consumer focus on healthcare. A survey conducted by NextGen Healthcare in 2021 revealed that 83% of ambulatory healthcare providers believe that patient engagement solutions are essential for achieving both financial success and improved patient outcomes, with the COVID-19 pandemic further accelerating market growth.

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Segmentation Analysis:

Delivery Type Insights

In 2023, the web and cloud-based segment dominated the market, holding a substantial 78.0% revenue share, and is projected to experience the fastest growth throughout the forecast period. The increasing adoption of these solutions is attributed to their ability to provide remote access to real-time data tracking, integrated features, easy accessibility, low handling costs, and straightforward data backup. Consequently, companies are increasingly investing in web and cloud-based patient engagement solutions. For instance, Microsoft introduced Microsoft Cloud for Healthcare in May 2020, aiming to enhance patient engagement and facilitate collaboration among healthcare teams through telehealth and data analytics capabilities.

On-premise services also play a crucial role, offering secure patient data management and ease of access, driven by the desire for comprehensive information access within healthcare facilities.

Component Insights

The software and hardware segment accounted for the largest revenue share of 62.7% in 2023 and is anticipated to grow at the fastest CAGR over the forecast period. These components form the core offerings of patient engagement solutions, providing intuitive user interfaces and continuous product upgrades that simplify installation, usage, and record retrieval. An example is FollowMyHealth from Allscripts, a widely used mobile-first, customizable patient engagement solution that enhances care quality and patient satisfaction.

The services segment is essential for the effective operation of patient engagement solutions, aiding in their optimization based on customer needs and maximizing health outcomes. This segment encompasses consulting, implementation, training, support and maintenance, as well as services related to interoperability and access to EHR data.

Functionality Insights

In 2023, the communication segment held the largest revenue share at 35.0%, forming the foundational offering of any patient engagement solution. This dominance is driven by the growing demand for telehealth, mHealth, and various virtual communication channels, including audio, video, and text. The pandemic accelerated the adoption of these virtual communication solutions, extending their applications to remote patient monitoring and mental health services.

The health tracking and insights segment is projected to grow at the fastest rate of 19.1% over the forecast period, fueled by the increasing integration of data analytics, artificial intelligence (AI), and machine learning to provide actionable insights for patients and their healthcare providers. For instance, Nuance Communications, Inc. introduced Nuance Mix, a conversational AI platform utilizing deep learning-based speech and natural language understanding technologies. In September 2021, Leidos partnered with Nuance to incorporate this platform and its omnichannel development tools into custom patient engagement solutions.

End-use Insights

The providers segment captured the largest revenue share, exceeding 47.0% in 2023. Providers, who cater to the highest volume of patients and serve as the primary point of contact for health consultations, are the leading adopters of patient engagement solutions. For example, in December 2021, Northwell Health in the U.S. implemented a patient engagement platform by Playback Health at select clinical sites, promoting mobility and secure sharing of point-of-care medical data.

Conversely, the payers segment is expected to grow at the fastest rate of 18.0% during the forecast period. The expansion of this segment is attributed to the increasing adoption of patient and customer engagement solutions that enable broad coverage and support value-based care delivery. Payers are focusing on managing patient care and ensuring connectivity at every stage of the treatment process.

Therapeutic Area Insights

Chronic disease management dominated the market in 2023, holding a revenue share of over 44.7%. The growing geriatric population in key markets, along with the rising prevalence of chronic diseases and accelerated adoption of digital technologies driven by the COVID-19 pandemic, have significantly contributed to the segment’s large share. Patient engagement solutions facilitate chronic disease management by enabling prevention and detection of conditions and supporting both provider-led and self-management strategies.

The health and wellness segment is projected to experience the fastest growth rate of 18.0% over the forecast period, driven by initiatives from leading companies, an expansion of product offerings covering mental health, weight management, and pregnancy, as well as increased research activities. For instance, in June 2023, Cardinal Health finalized an agreement to transfer its Outcomes business to Transaction Data Systems, enhancing patient engagement and clinical pharmacy solutions, thereby strengthening connections between payers and pharmaceutical companies within its extensive pharmacy network.

Application Insights

Outpatient health management accounted for over 39.0% of the market share in 2023, highlighting its dominance. The segment encompassing research and development (R&D) and preventive care is expected to grow at the fastest rate of 18.0% throughout the forecast period. Patients with chronic conditions require continuous monitoring and updates regarding their health management. The rise of healthcare consumerism has also led patients to become more engaged in care planning, tracking, and optimization.

Patient engagement solutions enable remote connections between patients and their healthcare providers, facilitating the efficient exchange of information, patient feedback, and other health-related data. For example, in November 2019, the CDC funded 13 state-level arthritis management and prevention programs to enhance the quality of life and monitoring for rural arthritis patients. Additionally, the adoption of patient engagement solutions for R&D purposes by medical device manufacturers, pharmaceutical companies, and other life sciences entities is expected to grow significantly due to increasing product availability and demand.

Order a free sample PDF of the Patient Engagement Solutions Market Intelligence Study, published by Grand View Research.

Non-small Cell Lung Cancer Therapeutics Market Predictions: What Lies Ahead in 2025

The global non-small cell lung cancer therapeutics market size is expected to reach USD 43.89 billion by 2030, registering a CAGR of 12.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The non-small cell cancer therapeutics (NSCLC) market is anticipated to witness significant growth during the forecast period. This can be attributed to the high investment by market players in the research and development of lung cancer therapy, presence of a rich pipeline, and increasing penetration of drugs during the forecast period.

Introduction of several drugs in various geographical regions is likely to drive the market during the forecast period. For instance, in October 2016, the FDA granted Breakthrough Therapy Designation to Alecensa (alectinib), a drug developed by Genentech to treat ALK-positive NSCLC as a first-line treatment. The drug has been approved in the U.S., Japan, Canada, Hong Kong, South Korea, Kuwait, and Israel.

Presence of a strong pipeline of drugs for non-small cell lung cancer helps propel the market during the forecast period. Bristol-Myers Squibb Company, Orion Corporation, Merck KGaA, AstraZeneca, F. Hoffmann-La Roche Ltd, and Pfizer, Inc. have major molecules in the pipeline.

Access the Non-small Cell Lung Cancer Therapeutics Market Size, Share & Trends Analysis Report By Type (Squamous Cell Carcinoma), By Treatment (Chemotherapy), By Distribution Channel, By Region, And Segment Forecasts, 2024 – 2030

Non-small Cell Lung Cancer Therapeutics Market Report Highlights

The adenocarcinoma segment dominated the market in 2023 with a share of 43.3% in 2023 due to increase in the population consuming tobacco and other products for smoking.

The targeted therapy segment dominated the market in 2023 with a share of 50.5% in 2023. The factors responsible for the market growth are the benefits of this therapy such as increased number of targeted therapeutics and low percentage of side effects during the treatment.

The hospital pharmacy segment dominated the market in 2023 with a share of 66.7% in 2023. This market growth was attributed to the increase in the number of hospitalized patients suffering from NSCLC.

North America dominated the non-small cell lung cancer therapeutics market with a market share of 35.4% in 2023. This growth was attributed to the presence of developed healthcare facilities and increased awareness regarding cancer treatments.

Key Non-small Cell Lung Cancer Therapeutics Company Insights

Some of the major companies in the non-small cell lung cancer therapeutics market are F.Hoffmann-La Roche Ltd., Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, Pfizer Inc. Companies are focusing on deploying new drugs and therapies in order to deal with the rising demand for lung cancer patients.

Pfizer, Inc. is a pharmaceutical and biomedical company, specializing in the research, production, and promotion of medications and vaccines for both people and animals. Pfizer collaborates with health care providers, governments and local communities to support and expand access to health care around the world.

F.Hoffmann-La Roche Ltd. Is a multinational healthcare company that operates in the pharmaceutical and diagnostics divisions. The company is a major provider of cancer treatments globally.

Order your free sample copy of “Non-small Cell Lung Cancer Therapeutics Market Report 2024 – 2030, published by Grand View Research

Key Non-small Cell Lung Cancer Therapeutics Companies:

The following are the leading companies in the non-small cell lung cancer therapeutics market. These companies collectively hold the largest market share and dictate industry trends.

F. Hoffmann-La Roche Ltd.
Mylan N.V.
Teva Pharmaceutical Industries Ltd.
Sanofi
Pfizer Inc.
GSK plc
Novartis AG
Bayer AG
Eli Lilly and Company
Merck & Co., Inc.

Recent Developments

In May 2024, Pfizer Inc. announced longer-term follow-up results from the phase 3 CROWN trial evaluating LORBRENA versus XALKORI for the treatment of anaplastic lymphoma kinase (ALK)-positive advanced non-small cell lung cancer (NSCLC). After 5 years of median follow-up, there was an 81% reduction in the disease progression rate.

In March 2023, F.Hoffmann-La Roche Ltd. announced the approval of VENTANA PD-L1 (SP263) Assay as a companion diagnostic to identify non-small cell lung cancer (NSCLC) patients. The company believed that with this launch, more patients will have access to an additional immunotherapy option.

About Grand View Research:

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone:-1-415-349-0058

Email: sales@grandviewresearch.com

Heavy Construction Equipment Market Assessment: Insights from Industry Experts

The global heavy construction equipment market size is expected to reach USD 289.3 billion in 2030 and is projected to grow at a CAGR of 5.2% from 2024 to 2030. Increased investment in infrastructure has been a major factor driving market growth.

Rise in infrastructural development around the world is the key catalyst that will propel market growth over the forecast period. Infrastructural development results in increased construction activities, which eventually creates a demand for heavy duty construction equipment. Developed infrastructure boosts economic growth by assisting cross-border trade and industrial growth.

Private financing is a key way to fund infrastructural development plans. For instance, infrastructure development in India has witnessed increased participation of private players in recent years. Moreover, the Indian government has increased its budget for infrastructural development.

Access the Heavy Construction Equipment Market Size, Share & Trends Analysis Report By Machinery, By Application, By Propulsion, By Power Output, By Engine Capacity, By End Use, By Region, And Segment Forecasts, 2024 – 2030

Heavy construction equipment market is likely to witness high demand due to various government initiatives to expand airports globally. As of January 2015, global investments for construction of airports was nearly USD 540.0 billion. For instance, news reports suggest that the total number of passengers traveling via Mumbai (India) airport has tripled in the last decade. To overcome this, the Indian government has approved an investment of USD 2 billion for the construction of the Navi Mumbai airport, which will help distribute domestic and international passengers. Development plans such as these are sure to give the global market a major boost.

Heavy Construction Equipment Market Report Highlights

The global heavy construction equipment market size is expected to reach USD 289.3 billion in 2030 and is projected to grow at a CAGR of 5.2% from 2024 to 2030. Increased investments in the infrastructure sector, especially in developing countries such as India, Malaysia, and Indonesia, is a key factor

The material handling equipment segment dominated the market and accounted for a revenue share of 51.0% in 2023. The material handling equipment segment dominated the market and accounted for a revenue share of 51.0% in 2023.

Earth moving machinery is expected to experience the fastest CAGR of 5.9% during the forecast period. This can be attributed to rise in investments to develop airports across the globe

Asia Pacific heavy construction equipment market is anticipated to witness the fastest growth from 2024 to 2030. This can be attributed to growth of construction activities in countries such as India, Malaysia, and China

Order your free sample copy of “Heavy Construction Equipment Market Report 2024 – 2030, published by Grand View Research

Key Heavy Construction Equipment Company Insights

Some of the key companies in the heavy construction equipment market include Caterpillar, Komatsu Ltd., AB Volvo, Hitachi Construction Machinery Co., Ltd., Deere & Company., CNH Industrial N.V., and others. To address the competitive state of industry, the key companies have adopted strategies such as growing investments in research & development, rising adoption of innovation, collaborations with companies and governments, participation in welfare initiatives related to infrastructural enhancements and more.

Caterpillar Inc., one of the prominent companies in manufacturing industry of construction and mining equipment, off-highway natural gas and diesel engines, diesel-electric locomotives and industrial gas turbines as well. Some of the heavy construction equipment offered by the company includes articulated trucks, backhoe loaders, compactors, draglines, drills, motor graders, hydraulic mining shovels, off-highway trucks, road reclaimers, pipelayers, excavators, dozers, lift trucks and more.

Komatsu Ltd., a Japan-based global corporation, manufactures mining, forestry, construction, and military machinery, some of its heavy construction equipment offerings are excavators, bulldozers, motor graders, wheel loaders, dump trucks, wheel dozers and others.

Key Heavy Construction Equipment Companies:

The following are the leading companies in the heavy construction equipment market. These companies collectively hold the largest market share and dictate industry trends.

Caterpillar
Komatsu Ltd.
AB Volvo
Hitachi Construction Machinery Co., Ltd.
Deere & Company.
CNH Industrial N.V.
LIEBHERR
Kobelco Construction Machinery Co., Ltd.
SANY
XCMG GROUP

Recent Developments

In February 2024, Caterpillar introduced its medium dozer line with two technology package upgrades. The Cat Assist with ARO (attachment-ready option) package is anticipated to become a standard feature on Cat D5, D4, D6, D6 XE, and D7 models from early 2024.

In June 2024, Volvo CE launched Volvo EC210, 20-tonne category, ‘Built for Bharat’, heavy excavator and rolled out “Karo Zyada ki Umeed” campaign. The introduction of this addition of the diverse portfolio of company’s construction equipment reinforces its commitment to continue its role in Indian markets to offer innovation backed, technologically advanced products associated with construction equipment industry.

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Grand View Research, Inc.

Phone:-1-415-349-0058

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Proton Therapy Systems Market Research: Understanding Patient Experience

The global proton therapy systems market size is expected to reach USD 1.2 billion by 2030, growing at a CAGR of 7.3% from 2024 to 2030, according to a report by Grand View Research, Inc. The market is primarily driven by increasing number of proton therapy centers, rising number of cancer cases, and growing investments by hospitals to establish these centers.

Growing funds & investments by hospitals, manufacturers, and private investors are also contributing to the growth of this market. For instance, in August 2015, Mevion Medical Systems (U.S.) raised USD 200 million in an equity funding led by HOPU Investments (China) and YuanMing Capital (China). These funds are likely to be used for development of technologically advanced and low-cost products. Furthermore, governments across various geographies are including budgets for establishment of these centers. For instance, in July 2015, the state government of Victoria included nearly AUD 2 million (USD 1.53 million) to develop a National Centre for Proton Beam Therapy at the Victorian Comprehensive Cancer Centre (VCCC). The new center is expected to offer treatment to the patients in Australia.

Access the Proton Therapy Systems Market Size, Share & Trends Analysis Report By Product (Equipment, Services), By Type (Single-Room System, Multi-Room System), By Region, And Segment Forecasts, 2024 – 2030

In addition, rapid increase in the number of cancer cases globally is anticipated to bolster market growth during the forecast period. According to American Cancer Society, an estimated 1,688,780 new cancer cases are expected to be diagnosed in the U.S. and this disorder is likely to cause nearly 600,920 deaths in 2017. Furthermore, according to The Lancet, the number of women diagnosed with breast tumors is estimated to reach 3.2 million by 2030, which is almost double of 1.7 million in 2015.

Favorable reimbursement policies in the U.S and European countries and rising cancer-related healthcare expenditure in emerging nations is likely to propel the global proton therapy systems market. In addition, decreasing cost of proton therapy, increasing awareness, and rising adoption are expected to boost demand for these systems during the forecast period. However, high costs involved in the establishment of these centers and lack of reimbursement in emerging nations is likely to restrain growth in the coming years.

Proton Therapy Systems Market Report Highlights

The equipment segment held majority of the revenue share in 2023 due to rise in the number of contracts for establishment of proton therapy centers

The multi-room systems accounted for the largest market revenue share of 67.4% in 2030

North America proton therapy systems market dominated in 2023 and accounted for the market share of 42.7%.

Asia Pacific proton therapy systems market is estimated to register the fastest CAGR over the forecast period

Order your free sample copy of “Proton Therapy Systems Market Report 2024 – 2030, published by Grand View Research

Key Proton Therapy Systems Company Insights

Some key companies in the proton therapy systems market include IBA Worldwide, Optivus Proton Therapy, Inc., Hitachi, Ltd., and Sumitomo Heavy Industries, Ltd. Key companies are involved in strategic initiatives such as in innovating new products, collaborating with institutions and other industries, and establishing partnerships.

Hitachi Ltd. is a multinational company dedicated to manufacturing various electronic, communication, heavy electrical, and industrial machinery equipment. The company’s proton therapy systems provide cancer treatment using advanced technologies. The company has delivered proton therapy systems to hospitals such as the HKSH Medical Group, which are equipped with scanning technology.

Optivus Proton Therapy, Inc. provides healthcare services dedicated to the advancing proton therapy technology. The company offers proton therapy systems such as Conforma 3000, a sixth-generation proton beam technology, and Odessey, a treatment planning system now operating on the updated Odessey 5.0 updated version of the software.

Key Proton Therapy Systems Companies:

The following are the leading companies in the proton therapy systems market. These companies collectively hold the largest market share and dictate industry trends.

IBA Worldwide
Optivus Proton Therapy, Inc.
Mevion Medical Systems
Advanced Oncotherapy plc
Varian Medical Systems, Inc
ProTom International, Inc
Hitachi, Ltd.
Mitsubishi Corporation
ProNova Solutions, LLC
Sumitomo Heavy Industries, Ltd

Recent Developments

In January 2024, Israel-based P-cure company started building a proton therapy center to provide access to inexpensive treatment to Chinese cancer patients through its Chinese subsidiary.

In October 2023, Hitachi Ltd. announced the delivery of its proton therapy system to the National Cancer Center in Singapore, marking the company’s first therapy system in Southeast Asia.

In December 2022, IBA Worldwide signed a contract with Spain’s Ministry of Health to install 10 proton therapy systems across Spain.

About Grand View Research:

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone:-1-415-349-0058

Email: sales@grandviewresearch.com