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A new study of Future Market Insights (FMI) estimates the global spending on clinical trials in 2019 at ~US$ 90 Bn, recording a ~4% Y-o-Y over 2018. The healthcare sector is closing in on a new era of clinical trials, which are more engaged with patients, streamlined and connected. With development costs reaching record highs and patents approaching cliffs, companies are strengthening their R&D efforts to keep pace with change. Medical device and pharma giants are already eyeing better approaches for clinical trials, implementing a combination of their current systems and better technologies to ebb challenges in critical areas – orphan drugs and rare diseases.
“The ubiquity digital technologies is evidently growing, as these (including but not limited to ingestible devices, sensors, and wearable health monitors) hold the potential to disrupt the aspects of clinical trials. Digital technologies are revolutionizing the antiquated process of new drug development, even as optimizing the way health data is collected, measured, and assessed”.
According to the study, the clinical trials landscape is witnessing a paradigm shift toward patient centricity, in a bid to incorporate perspective of patients during the clinical trial design. Clinical trial sponsors have aligned their methods with the voice of patients, by launching communication channels during the study’s execution. Key enterprises are adopting unconventional approaches by implementing site-centric method, using operational support systems and technology for bringing studies to the trial-naïve physicians.
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Industry Sponsors Account for Majority Clinical Trial Spending
The study estimates industry-sponsored clinical trials to account for ~60% of overall spending in 2019, and in the foreseeable future. Recent studies state that industry-sponsored trials yield positive results compared to academic-run trials, which also account for a significant share of clinical trial spending.
According to FMI, sponsors, such as academic institutes, research institutes and medical centers, are estimated to account for ~30% clinical trial spending in 2019. As the imperativeness of evidence-based therapies continue to be progressively emphasized, most of the randomized clinical trials are driven by the ability of developing profitable new therapies. Guidelines recommended by regulatory bodies for clinical trial enrichment, and risk-based monitoring are likely to lay the groundwork for more targeted approach toward cost-intensive clinical trials.
The study opines that North America and Europe will continue to lead the clinical trials landscape, collectively accounting for ~80% of global spending. These regions present a standardized and favorable environment for the clinical trials landscape, in light of their economic vigor that enables them to benefit from most of the technology disruptions prior to other nations. Pharmaceutical and medical device giants in these two regions are adopting AI for disrupting every stage of the clinical trial, which range from linking studies to eligible patients, to data collection and adherence.
Download Table of Contents@ https://www.futuremarketinsights.com/reports/clinical-trials-market#report-toc
According to the study, opportunities abound for conducting clinical trials in developing economies, such as in East Asia and South Asia, owing to the access to huge patient pool. Sponsors are likely to realize greater success in these regions as low government healthcare budgets represent cost-effective methods of providing patients with access to innovative therapies. Additionally, conducting clinical trials in these regions comes with other broader advantages, including pragmatic & efficient regulatory pathway, and tax incentives for conducting the trials.
The study offers a long-term forecast of the clinical trials landscape for the period between 2019 and 2029. The clinical trials landscape is projected to record a 4.5% CAGR through 2029.
(Added: Fri Jul 19 2019 Hits: 2 Rating: 0.00 Votes: 0) Rate ItFuture Market Insights (FMI), in its latest publication, outlines the future trajectory of the global nucleic acid isolation and purification market through 2029. According to the report, worldwide sales of nucleic acid isolation and purification kits were valued at ~US$ 830 million in 2018, and are estimated to register a Y-o-Y growth of ~4% in 2019. As the consistency and reliability of molecular diagnostic results relies heavily on the quality of genetic material i.e. DNA and RNA, manufacturers are focusing on offering high-quality products, ensuring improved yield and purity.
With growing need to understand and characterize microbial diversity, including that associated with human body, governments as well as private companies are increasingly investing in life science projects, thereby creating a greater demand for nucleic acid isolation and purification. While the high cost challenge persists, shortage of skilled professionals in healthcare and biopharma industries remain the longstanding challenges.
“Rapid and efficient methods or products to extract genomic RNA and DNA from virtually any biological sample have been growing in demand to ensure the success of downstream applications in molecular biology. With growing research on detection of tumor specific changes, FMI study finds that nucleic acid isolation and purification market vendors are exploring new technologies to facilitate ease-of-use and minimize user-error of their products.”
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Future market Insights' study reveals that the nucleic acid isolation and purification market is likely to expand at a CAGR of ~5% during the period 2019-2029. One of the key influencing factors is manufacturers' focus to direct their investments towards advanced technologies such as magnetic-bead or bead-beating technology, to align with end users' demand for an effective system for extraction of high-quality starting material and efficient inhibitor removal. The unique challenges for extracting and purifying nucleic acid from different organisms and tissue types, have also brought more focus on customized systems and solutions.
Advances in Microbiome Research to Dictate Manufacturers’ Growth Strategies
In comparison with RNA isolation kits, manufacturers continue to increase innovations and production of DNA isolation kits, as the category is expected to account for larger share in the market during the forecast period. As per the study, lucrative opportunities are identified in increasing application scope of DNA isolation and purification kits in various academic research institutes, contract research organizations, and biotechnologies companies to not only successfully extract the DNA but also to minimize the presence of contaminants and prevent nucleic acid degradation during preparation. As genomic and microbiome research advances, manufacturers are working on automating the nucleic acid isolation and purifications kits to recover DNA and RNA from the toughest samples used in microbiome work such as soil and stool samples.
Download Table of Contents@ https://www.futuremarketinsights.com/reports/nucleic-acid-isolation-and-purification-market#report-toc
Growth prospects of the nucleic acid isolation and purification market, as the study opines, are relatively high in developed countries of North America and Europe. Hefty investments in R&D on molecular biology and precision medicines over gradual increase in the prevalence of cancer, genetic disorders, and complex diseases are likely to influence the manufacturers to enhance their production capabilities.
Tapping into opportunities in China and Japan for acquiring local players and increasing manufacturing facilities will provide the added advantage to gain a new customer base. As innovations zoom in, a number of market players are working on offering products that are free of toxic organic solvents and enable cost-effective method to extract and purify PCR-ready DNA or RT-PCR-ready RNA from numerous samples.
The report also offers an incisive outlook on the competitive landscape of nucleic acid isolation and purification market. As per the study, extensive M&A activities and new launches remain the key focus areas of the market players. In addition, they are emphasizing on strengthening outsourcing and solutions through strategic collaborations.
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Future Market Insights (FMI), in its new research study, underlines the key elements shaping growth of fish protein concentrate market for the assessment period of 2019-2029. According to the research study, sales of fish protein concentrate touched ~ 57,466 MT in 2018, and are likely to grow by 5.5% YOY in 2019. As fish protein concentrate goes up the popularity scale as a viable ingredient for value-addition, market players are looking for ways to enable a production ramp-up in a bid to bridge the supply-demand gap.
According to the research study, demand for animal-sourced protein is seeing a quantum leap, as animal proteins have gotten positive reviews in recent years from a nutritional standpoint. Consumers are now showing much more confidence in animal proteins, which is a distinct move away from the time when ‘plant-sourced’ was synonymous with ‘healthy’. Such trends are signaling the influx of promising opportunities for the fish protein concentrate market in 2019 and beyond, finds the report.
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“The leading participants in the market could also center on devising persuasiveand influential marketing strategies by identifying the regional patterns of animal-sourced proteins. Powerful advertisements are no less than a harpoon for capturing the ideal customer targets, which, in turn, will help the manufacturers to hit the right the right spot.”
The research study finds that growth of brands in the fish protein concentrate market will be largely defined by the bespoke formulations they bring into the table for their customers. In addition, governments across various countries- the U.S. Sweden, Canada, and Japan to name a few- are centering on promoting fish protein concentrate as a ‘must-have’ ingredient. This, in turn, is poised to create a new pool of opportunities for the market players to tap into.
According to the report, type C will clearly lead the pack by a large margin, followed by Type B and Type A. Since the type C is manufactured under utmost hygienic conditions, it has been and, will continue to be perceived of being ideal for consumption. In addition, prices of type C are relatively reasonable as compared to type B and A, which further underpins the overall growth in consumption of type C through 2029. The report further opines that consumers will continue to show marked preferences for powder forms over liquid ones, owing to their larger shelf-life and ‘easy-to-transport’ benefits.
Opportunities galore for the market players of fish protein concentrate, as the food & beverage producers worldwide are embracing fish protein concentrate for ‘value-addition’ purposes. As the transition towards nutritional diet firms up, food and beverage producers are leaning on fish protein concentrate to increase their product integrity. Use of fish protein concentrate in cosmetic and personal care industry is likely to pick pace through 2029, as the demand for chemical-laden cosmetic and personal products is seeing a drastic collapse.
Download Table of Contents@ https://www.futuremarketinsights.com/reports/fish-protein-concentrate-market#report-toc
Manufacturers to Extensively Focus on R&D Activities, Cogent Packaging Remains a Priority
Manufacturers will continue pouring investments in R&D activities, as product innovations in such a turbulent market space certainly pays off. As the leading companies face intense competition from regional players, their focus on research and development will continue to get strong and profound. Manufacturers are also focusing on offering wholesome and consistently available fish protein concentrate, so that their products clearly stand out amid the global market shelves.
Packaging continues to be a key interactive tool for the manufacturers to convey their brand values and establish meaningful relationships with their end user bases. The market players are placing ‘transparency in packaging’ at the top of all their marketing priorities, as product transparency plays a key role in turning consumer decisions into the brands’ favour.
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