In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
March 09, 2022: Nordic BioSite Group (NBG) to acquire UK-based distributor Cambridge Bioscience and Research Donors, a biospecimens company, to reach the European customer base.
September 15, 2021: Cayman Chemical to partner up with Nano Imaging Services and T&T Scientific, to offer multidisciplinary lipid-based drug delivery nanoparticles.
The global gastrin hormone market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2031. Gastrin is a peptide hormone that stimulates the secretion of gastric acid (HCl) in the stomach. Gastric acid is required for the digestion of the food, absorption of some of the vitamins and kill the bacteria naturally present in the food. The growth of the market can be attributed to the increasing demand for synthetic gastrin in the healthcare industry, backed by the rising prevalence of gastric disorders. Moreover, the growing prevalence of autoimmune gastritis, a disease in which the immune system attacks the parietal cells (gastric acid producing cells) leading to low stomach acid secretion, is estimated to boost the demand for synthetic gastrin in the market. Furthermore, the growing healthcare expenditure across the globe is foreseen to encourage the growth of the market. According to the data by the World Bank, 9.845% of the gross domestic product was spent on healthcare in 2019.
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The market is segmented by end-user into hospital, specialty clinics, and others, out of which, the hospital segment is anticipated to hold a substantial share in the global gastrin hormone market over the forecast period on account of increasing patient pool at the hospitals, especially with gastrointestinal issues, such as, celiac disease, carcinoid syndrome diarrhea, and others.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
On the basis of geographical analysis, the global gastrin hormone market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness modest growth over the forecast period on the back of improving public healthcare system, and growing health awareness amongst people.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of better reimbursement policies, and growing healthcare expenditure in the region. As per the data by the Centers for Medicare & Medicaid Services, national health expenditure in the U.S. increased to USD 4.1 trillion in 2020, which was USD 12,530 per person.
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The global gastrin hormone market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global gastrin hormone market includes the following segments:
Ans: Increasing prevalence of gastric diseases, such as, gastritis, is estimated to boost the market growth.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2031.
Ans: Side effects associated with over secretion of gastric acid are estimated to hamper the market growth.
Ans: The North America region is anticipated to provide more business opportunities over the forecast period owing to the high healthcare expenditure in the region.
Ans: The major players in the market are RayBiotech Life, Inc., KareBay Biochem, Inc., Cayman Chemical Company, Cambridge Bioscience Limited, CPC Scientific Inc., Abcepta, GenScript Biotech Corporation, Qingdao Echemi Technology Co., Ltd., and VWR International, LLC.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by salt type, packaging size, end-user, and by region.
Ans: The hospital segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.