Market Research Blog – Page 10214 – New Product Development

U.K. Pet Grooming Market is Estimated to be Valued at US$ 913.8 Mn by the End of 2032

The U.K. pet grooming market is anticipated to expand at a CAGR of over 5.7% throughout the forecast period of 2022-2032, and it is estimated to be valued at US$ 913.8 Mn by the end of 2032.

The U.K. pet grooming market is expected to benefit from growing presence of mobile pet grooming salons. These mobile pet groomers provide premium services and also use organic products. Hence, pet owners are willing to invest extensively to ensure that their pets have properly cared for.

Mobile pet grooming salons are the perfect solution for pet owners with busy schedules as they provide particular care to animals and are also handy. For instance, Aussi Pet Mobile is one of the firms that provide mobile pet grooming salons for cats and dogs.

Furthermore, these services save time and are beneficial to both pet owners and pets because they are quick and people do not have to spend time waiting in queues. Additionally, mobile pet grooming services are less expensive than permanent grooming facilities, hence, their popularity among pet owners is expected to rise in the near future.

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Moreover, mobile groomers offer services at the doorstep, and pet owners are willing to pay for higher service. The portable vans used to provide such grooming services also serve as a marketing medium.

Key Takeaways from the U.K. Pet Grooming Market Study

Online sales segment is expected to be the leading segment in terms of sales channel in the U.K. pet grooming market.
In terms of product type, shear and trimming tools are likely to generate high demand in the market.
Based on pet type, the dog segment will register fastest growth over the upcoming decade.
By price range, the US$ 25-US$ 35 segment might witness positive growth in the U.K. pet grooming market

“Key players in the U.K. pet grooming market are focusing on expanding their footprint and increasing sales by releasing natural and luxury products for pets. This would aid in the development of long-term consumer connections in order to retain existing customers and promote brand loyalty.” Says an FMI analyst.

Who is winning?

Leading manufacturers in the U.K. pet grooming market are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of pet grooming market in the U.K.

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Major players present in the U.K. pet grooming market are Beaphar, Spectrum Brands Inc., Company of Animals, Vital Pets, Milly’s, Ferplast S.p.A., Ancol Pet Products Limited, Rolf C. Hagen Inc., The Hartz Mountain Corporation, Groomer’s Choice, Nap Pets (Himalaya Herbal Healthcare), Earthbath, Tecla Company, Synergy Labs, Petco Animal Supplies Inc., and Coastal Pet Products Inc. among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of the U.K. pet grooming market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the U.K. pet grooming market based on product type (conditioner & shampoo, combs & brushes, shear & trimming tools, and others), price range (US$ 5-15, US$ 15-25, US$ 25-35, and US$ 35 & above), pet type (dogs, cats, birds, fish & reptiles, small pets, and horses), sales channel (modern trade, convenience stores, care service centres, online retail, support care centres, and pet specialty stores) across the U.K.

U.K. Pet Grooming Market by Category

By Product Type:

Conditioner & Shampoo
Combs & Brushes
Shear & Trimming Tools
Others

By Price Range:

US$ 5-15
US$ 15-25
US$ 25-35
US$ 35 and Above

By Pet Type:

Dogs
Cats
Birds
Fish & Reptiles
Small Pets
Horses

By Sales Channel:

Modern Trade
Convenience Stores
Care Service Centers
Online Retail
Support Care Centers
Pet Specialty Stores

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Collaborative Robots Market Expanding At A Staggering CAGR Of 26% Over The Forecast Period 2022-2029 | FMI

The global collaborative robots market is estimated to top US$ 1.71 Bn by the end of 2022. These developments are estimated to spur the sales of industrial collaborative robots in Germany, assisting the EMEA market to account for 15.9% of the revenue share in 2022.

Over the course of the assessment period, Germany is anticipated to experience significant growth in the Europe, Middle East, and Africa (EMEA) market.

In the nation, industrial automation is advancing more quickly, particularly in the automotive sector. Numerous automakers are increasing their investments in cutting-edge robotic technologies like collaborative robots to perform difficult and dangerous tasks and produce high-quality work.

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Estimated to exhibit an impressive CAGR of ~26% during the period 2022-2029, the growing automotive and electronic & semiconductors industry, incessant technological advancements, and enhanced range of applications of collaborative robots will remain instrumental to the market growth, according to the FMI analyst.

According to the report’s findings, the global collaborative robots market is expected to grow significantly over the forecast period due to multiple driving factors such as increasing automation in end-use industries, labour cost reductions coupled with high precision work, and high regional demand for collaborative robots.

Up to 5kg collaborative robots are anticipated to continue dominating the global market through 2029 based on payload capacity. By 2022, FMI projects that East Asia will account for over 64.2% of sales of collaborative robots, dominating the global market.

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The East Asia Market Creating Significant Growth Opportunities

East Asia region is projected to boost the growth of the collaborative robots market, owing to the significant rate of automation across industries. South Korea is the leading country in robots per 10,000-person ratio, whereas China has currently registered the highest growth rate in the same ratio. The inclination of these countries toward collaborative robots fueled by significant innovations in technology is magnifying the market. Japan holds a major share of the market in the East Asia region. To that end, East Asia is expected to generate substantial growth opportunities in the forecast years.

Affordable Price and Multitude of Applications of Collaborative Robots Contributing to the Market Growth

The global collaborative robots market has been segmented based on the different types of payload capacities, their multiple applications, end-use industry and regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.

Collaborative robots with payload capacity up to 5kg are projected to have the dominant share of growth in the upcoming years. Lightweight collaborative robots with payload capacity up to 5kg are being widely used for a range of applications. The segmental growth is followed by 5-10kg payload capacity collaborative robots.
Based on application, material handling is expected to hold a majority share of the global collaborative robots market which is implemented in several end-use industries. The general assembly is another segment that is projected to have a fair share in the market growth.
The electronics and Semiconductors industry is projected to have a significant share in the global collaborative robots market. Demand for high speed and precision work fulfilled by collaborative robots is benefitting the industry on a large scale.

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Collaborative Robots Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global collaborative robots market. A few examples of key players in the market are Universal Robots A/S, AUBO Robotics, Denso Wave Incorporated, Fanuc Corporation, Stäubli International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., ABB Group, Yaskawa Electric Corporation and K2 Kinetics among others.

The global collaborative robots market is significantly dominated by some players holding prominent shares of the market. These players are indulging in strategic alliances, collaborations, mergers and acquisitions. For instance, ABB Group announced a collaboration with Kawasaki Heavy Industries Ltd. to share knowledge and are working on joint technical and awareness opportunities.

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Underwater Hotels Market is Progressing at a Significant CAGR of 13.60% in 2032 | FMI

The global underwater hotels market is projected to reach US$ 11.6 billion by 2032, up from US$ 3.5 billion in 2022, progressing at a significant CAGR of 13.60% during the forecast period from 2022 to 2032.

The growth of the Underwater Hotels market was mainly driven by the increasing R&D spending across the world.

The demand for underwater hotels is surging as besides the captivating ambience they offer tourists a broad range of intense water sports activities which includes non-motorized and motorized.

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Scope of the Report of Underwater Hotels

Underwater hotels are becoming increasingly popular in Dubai and Sweden. The cost of staying in an underwater hotel is high, but it is well worth it. Underwater hotels offer tourists a variety of intense water sports activities, both motorized and non-motorized, in addition to the captivating ambiance. Tourists can drive a submarine through the lagoons themselves.

Water tourism development around the world is focusing on underwater hotels. The hotel’s main construction is a plexiglass dome reinforced with concrete and steel to withstand the underwater pressures. Companies that own underwater hotels are embarking on ambitious projects. For hotels all throughout the world, they’re becoming a new passion.

Underwater hotels offer water tourism activities such as canoeing, diving, fishing, and snorkelling.

Market Leaders and their expansionary development strategies

In March 2022 – AD Ports Group continues its diversification with the acquisition of Divetech Marine Engineering Services, a UAE-based topside-subsea solutions provider that offers a range of services including installation, inspection, repair, and maintenance for ports and other underwater organizations.

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Table of Content

Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Investment Feasibility Matrix

3.5. PESTLE and Porter’s Analysis

3.6. Regulatory Landscape

3.6.1. By Key Regions

3.6.2. By Key Countries

3.7. Regional Parent Market Outlook

TOC Continued….

Some of the key players profiled in the study are:

The Apeiron Island Hotel (United Arab Emirates), Water Discus Hotel (United Arab Emirates), The Lifeboat Hotel (United Kingdom), The Shimao Wonderland (China), Jules’Undersea Lodge (United States), Huvafen Fushi Maldives (South Asia), Utter Inn (Sweden), The Manta Resort (East Africa), Hydropolis (Poland), Hilton (United States) and The Poseidon Underwater Resort (Oceania)

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Key Segments in the Underwater Hotels Market

By Type:

Luxury Type Underwater Hotel
General Type Underwater Hotel

By Application:

Business class
Economic class

By Booking Type:

Online booking
Offline booking

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Water Adventure Tourism Market is Expected to Grow at a CAGR of 16.9% in 2022-2032

The water adventure tourism market is expected to reach US$ 845.8 Billion by 2032, up from US$ 156.9 Billion in 2022, progressing at a CAGR of 16.9% during the forecast period.

Special interest tourism is a type of tourism that facilitates the customisation of tourism activities to cater to the specific interests of individuals and / or groups. A particular need or interest is addressed in the special interest tourism sector. Adventure tourism is a type of special interest tourism, which engages an individual in natural, physical and cultural excursions that results in the individual coming out of his/her comfort zone.

This is carried out by an established tour company or agency. Water adventure tourism is a sub type of special interest tourism under the category of adventure tourism. Water adventure or water based tourism refers to tourist activities undertaken at water resources such as dams, lakes, canals, seas, coastal zones, oceans and creeks.

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Water sports enthusiasts look forward to explore hard as well as soft water based adventures and activities such as water sports – canoeing, sailing, kayaking, river rafting, water-skiing and scuba diving. It is a niche type of tourism that involves exploration and travel in an unfamiliar, remote, exotic and wilderness location.

Water Adventure Tourism: Popularity

Water adventure tourism, or water based tourism is gaining popularity in the current global scenario. The factors contributing to the increased popularity of water adventure tourism are listed below:

Individuals are more interested in pursuing risky adventures, instead of boring tours with less activities
The rise in disposable income has facilitated the growth in tourism all over the world. Money, income and spending power are special influencing factors of the water adventure tourism sector
Advent of technology and developments in water sport equipment have a reinforced effect on the safety of individuals, because of which there is an increased participation in water sports, expanding the horizon of water adventure sports and thereby impacting the water adventure tourism sector
Skilled personnel and trainers are available to help and guide the tourists, impart knowledge and technical know-how in order to use the underwater equipment (scuba diving and deep sea diving) conveniently

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Water Adventure Tourism: Challenges

Like every other tourism segment, the water adventure tourism sector also faces certain challenges.

Though the popularity of water sports is rising, there are issues faced by tourists in terms of risk management (despite regulating risk mitigation programmes, people tend to adhere to their own terms), equipment (water sports equipment might be faulty during manufacturing and is not checked sometimes owing to brand new packaging that gives a sense of assurance to the tourists; owing to which accidents tend to happen).

Water sports agencies can also face problems with respect to misbehaviour of the tourists, trip cancellations and overall resources and tour management issues.

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Water Adventure Tourism: Different Sports and Equipment

There are various water sport activities in water adventure tourism. Even if related to water as a common aspect, each of these water sports activities are unique with respect to the experience gained and the level of risk involved.

Water enthusiasts engage themselves in activities such as white water rafting that is famous in Malaysia, kayaking in Vietnam, kite boarding in Thailand, surfing in Playa de Famara, scuba diving in Brisbane, kayaking in California, jet skiing in Miami, wind surfing in Spain and wake boarding in Australia.

These are some of the water sports activities famous in the mentioned locations. Water sports equipment and apparel are two important factors to be considered while undertaking water adventure tourism.

There are several water equipment and gears such as knee boards, swim goggles, wake boards, kayaks and canoes, water skis, life vests, diving suits, rebreathers, diving computers and gauges and so on. Some of the manufacturers producing these equipment include Adidas, Arena, Mikasa, Speedo International, Baden, Nike, Billabong, Turbo, KAP7 and Under Armour.

Key Segments in the Water Adventure Tourism Market

By Tourist Type:

Independent Traveller
Tour Group
Package Traveller

By Activity Type:

Kayaking
Surfing
Boat Rides
Jet Skis
Paddle Boards
Wind Surfing
Rafting
Scuba Diving
Parasailing
Others

By Age Group:

Kids
Adults

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Aquarium Decor Market is Projected to Increase at a 3.0% CAGR During Forecasted Period 2022-2032

The aquarium decor market is poised to reach a valuation of US$ 2,546.4 Mn in 2022. Sales are projected to increase at a 3.0% CAGR, with the aquarium decor market size reaching US$ 3,422.1 Mn by 2032.

The environment-friendly decor concept is emerging as a major trend force in the aquarium décor market. Products depending on their quality, are being manufactured and purchased in the market. High-quality aquarium accessories are made of polycarbonate. They are durable and biodegradable. Wood Aquarium decor, which is durable, is demanded by consumers, that is, pet parents who have fish as pets. The rise of fish adoption as a “Stress buster “positively impacts the demand for aquarium decor globally. As a result, new aquarium decors are manufactured in different designs, sizes, etc.

Nowadays, due to the rise of awareness among consumers about environmental sustainability, they prefer more environmentally friendly products. Consumers demand natural and live plants, toys made from stones, ornaments made from natural material, etc., as they are more durable and biodegradable. Not only has this changed the aquarium décor market outlook, but also impacted the other industries heavily.

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Key Takeaways from the Aquarium Decor Market Study:

In the last two to three years’ e-commerce sites have contributed majorly to the aquarium decor market
The worldwide aquarium decor industry is being led by North America.
A variety of fish clubs and organizations are also driving the demand for aquarium decor by helping to expand the hobby and increase awareness of these threatened animals.
The ornamental objects phase in aquarium add-ons marketplace is predicted to account for the biggest proportion of aquarium decor market share throughout the forecast period and is normally pushed via way of means of the growing recognition of aqua spaces among the hobbyists.

Competitive Landscape

The leading manufacturers of aquarium decor are focused on sustainability of the environment, growing culture of fish farming that have driven sales growth of Aquarium decor globally.

The pandemic and lockdown had positive impact on the e-commerce websites which sold aquarium décor and advertised using social media platforms like Instagram, YouTube etc. But due to the break I supply chains, travel bans there was a very big negative impact on the aquarium decor industry.

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“The aquarium décor industry is predicted to be befitted by the rising rates of fish adoptions. However, the growing awareness of importance of sustainability of the environment is likely to act like the driver for the aquarium decor market’s expansion globally”- FMI Analyst said.

Major players present in the aquarium décor market are Penn Plax, Qian Hu, Interpet, JebaoTropical Marine Centre Spectrum Brands Guangdong Boyu Group, API, Aquaria, AZOO, United Pet Group, ZooMed, Hagen, Blue Ribbon, Hailea Arcadia, Live Aquaria, Aqueon, Guangdong Boyu Group AND Spectrum Brands among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of the global Aquarium decor market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the Aquarium decor market based on by products (plants, toys, ornaments, statues and others), by material (clay, ceramic, plastic, coral, stones, resin and others) by price range (low, medium, and premium), by sales channel (e-commerce websites, company owned websites, hypermarkets and supermarkets, specialty stores and other retail stores) & region.

Key Segments Profiled in the Ironing Table Industry Survey

Ironing Table Market by Classifications:

Steel Ironing Table
Aluminum Ironing Table
Plastic Ironing Table

Ironing Table Market by Applications:

Households Ironing Table
Laundry Ironing Table
Apparel Industry Ironing Table
Hotel Ironing Table

Ironing Table Market by Types:

Portable table top ironing board
Wall-mounted iron table
Table-top or full-size ironing board

Ironing Table Market Region:

North America Ironing Table Market
Latin America Ironing Table Market
Europe Ironing Table Market
Asia Pacific Ironing Table Market
Middle East and Africa Ironing Table Market

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Bandsaw Machines Market Is Expected to reach US$ 2.80 Bn By 2029 | Future Market Insights

Between 2022 and 2029, the market for bandsaw machines is projected to grow by more than 3.9% CAGR, surpassing US$ 2.80 billion. Sales will be fueled by rising demand for metal-cutting bandsaw machines in the mining, construction, and automotive industries.

In 2022, sales of bandsaw machines are expected to reach 200 thousand units worldwide, with an estimated increase of 3.9% year over year, according to a recent research study published by Future Market Insights (FMI).

Between 2022 and 2029, the bandsaw machine market is projected to expand at a CAGR of over 3.9% and surpass US$ 2.80 billion. Rising demand for metal-cutting bandsaw machines in the mining, building, and automotive industries will boost sales.

Industrial technologies are currently experiencing a seismic shift from the conventional technologies to bandsaw machines. The primary reason behind this trend reversal is an ever-increasing demand for flexibility during cutting applications that comes from the end users, which will further help them serve requirements of their customers in a much more efficient way.

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The FMI analyst opines that there are signs of a majority of the industries moving towards ‘energy efficiency’, which marks positive beginnings for the adoption of bandsaw machines market during the assessment period.

The global bandsaw machines market reflects a fair degree of fragmentation, with a handful of market players accounting for approximately 29-31% revenue share. However, the mid-level and emerging players will command for a major chunk of overall market share i.e. 69-71%, and will remain focused toward extending their sphere of influence via affordable products with ‘best-in-class’ features.

To align with end user proclivity for high-quality bandsaw machines that bring down operational and maintenance costs, manufacturers are placing emphasis on use of high-cost components and working toward reduction of blade changeover downtimes.

According to the FMI analyst, the market players are also shifting their strategic focus toward the development of differentiated and customized bandsaw machines that are suited to varying end-user needs and requirements.

According to the FMI analysis, fully-automatic machines accounted for more than 1/3^rd of the bandsaw machines sales in 2021, with a tough competition by semi-automatic bandsaw machines. Though end-users will remain biased toward bandsaw machines with horizontal orientation, the ones with vertical orientation will witness exponential demand through 2029.

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While the former offers benefits of easy mobility and transportation, the latter offers better visibility on account of the enhanced accessibility. Automotive and transportation will continue to account for a significant pie of the overall market revenues in 2022, standing firmly as the largest end-user of bandsaw machines.

Competitive Landscape:

Key companies in the global Bandsaw market are focusing on launching novel products and services to expand their service portfolio. Some of the players are also aiming at merger and acquisition to gain competitive edge.

Starrett
AMADA Machine Tools Co. Ltd.
Mega Machine Co. Ltd.
Pedrazzoli IBP
Everising Machine Co.
Petra Stroji D.O.O.
MEBA Metall-Bandsagemaschinen GmbH
Santec Group
Cosen Saws International Inc.
ITL Industries Limited
Behringer GmbH
Soitaab Impianti SRL
Multicut
Kasto Machinenbau GmbH & Co. KG.
Others

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Online Channel: The New Pacemaker for Sustained Revenue Growth

With ‘online’ emerging as the new synonym of ‘convenience’ and ‘flexible purchasing’, manufacturers are investing in online sales channels to gain maximum ROI. The growth of online sales is the consequence of dramatic shifts in purchase habits of end users, who seek high-quality bandsaw machines available at the best of prices. The growing number of well-informed customers are calling for reliable information on the product integrity, which also works in favor of online channels that include detailed product descriptions for the consumers’ reference.

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UK Outbound Travel Market is Projected to Reach US$ 175.2 Billion by 2032

The UK outbound travel market to reach US$ 175.2 Billion by 2032, up from US$ 76.7 Billion in 2022, developing at a considerable CAGR of 8.60% during the forecast period.

Despite the slowdown in economic growth, European outbound travel has grown by 3%. Globally, United Kingdom is one of the top five spenders on outbound tourism. Outbound travel is increasing steadily in the United Kingdom along with domestic and inbound tourism. According to the Office for National Statistics of UK, residents of the United Kingdom made 70.4 million outbound trips in 2016, which is a 7% increase compared to 2015.

The outbound travel sector in the United Kingdom provides employment on par with other well-known and recognised industries, such as food and electrical equipment manufacturing and machinery and equipment industries.

Trips taken as holiday remained the main purpose of the trip for UK outbound tourists in 2016 followed by visiting friends and relatives and business trips. According to the World Travel and Tourism Council, the outbound tourism expenditure of UK travellers crossed US$ 70 billion and is projected to reach US$ 102 billion by the end of 2024.

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UK Outbound Travel: Market Dynamics and Restraints

Relatively high disposable income per capita is expected to drive the United Kingdom’s outbound tourism sector. Baby Boomers, with more free time and money for travel, are the most important segment of the UK outbound travel sector. The baby boomer generation has topped the market share of the UK outbound travel sector mainly attributed to the recent changes in pension annuities. According to the International Passenger Survey, the residents of UK prefer July and August for travel abroad mainly due to the long school holidays.

Other popular months are April, May, June, October and November. January to March is a popular time for single-week ski trips and winter sun breaks to cheap destinations, usually as an extra holiday. Along with the international airports, the United Kingdom has a large number of regional airports offering international services to important destinations which include Manchester, Nottingham, East Midlands, Liverpool and Leeds.

Medical tourism across the globe also faced difficulties in the last couple of years. Outbound medical tourism from Britain has recovered slowly after the recession. Factors include poor National Health Service delivery, problems with National Health Service dentistry, and objections and delays relating to National Health Service. Reforms have helped boost the outbound tourism sector in the UK.

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UK Outbound Travel: Regional Analysis

Europe is most popular region for UK tourists with over 75% of total outbound trips. Spain, France, Italy and Germany are the most visited destinations by UK residents and the United States was the most visited non-European destination with around 6% of total visits. China, India, Iceland and Cuba areother popular destinations for UK travellers among other non-European destinations.

Factors such as cultural and artistic heritage, high reputation related to the charming culture and lifestyle, great climate, excellent and frequent flight connections have influenced UK tourists to travel to Italy. In addition to the trips within Europe, long haul travel is also increasingly becoming popular among UK travellers.

The Middle East was the least visited region for UK holidaymakers and India is one of the top destinations for UK travellers in the Asia Pacific region.

This comprehensive report equips readers with lucid information and analysis on the sector.

Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

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The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

Key Segments in the UK Outbound Travel Market

By Type:

Day Trips & Local Gateways
Museums
Pilgrimages
Religious and Heritage Tours
Others

By Traveler Type:

Independent Traveller
Tour Group
Package Traveller

By Booking Channel:

Online Booking
Offline Booking

By Age Group:

0 to 20 Years
21 to 40 Years
41 to 60 Years
60 Above

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Photomedicine Market Share, Business Standards, And Technology Trends In-Depth

The photomedicine market is expected to upsurge in the coming years owing to the number of new product approvals. Moreover, the photomedicine market is also experiencing consolidation with companies acquiring other market players. Synedrion Medical Ltd. acquired New Star Lasers, Inc. to leverage on its Cool Touch family of aesthetic devices. Photomedicine is an interdisciplinary branch of medicine that involves the treatment and diagnosis of diseases and other complications related to health by using photobiology and light. Photomedicine treatment is done by exposing the individual to light with specific wavelengths using lasers, fluorescent lamps, full-spectrum light, polychromatic polarized light, light-emitting diodes and dichroic lamps. Moreover, photomedicine also includes the cellular and molecular mechanisms of pharmacology, chemistry, physiology and pathology as they apply to photobiology. Photomedicine has found its application in the diagnosis and treatment of heart diseases, cancer and several infections. This new treatment option of photomedicine helps better visualization and has outpaced the traditional method of diagnosing and detecting a disease.

Photomedicine Market: Drivers & Restraints

The market for photomedicine is expected to boom as there is more adoption of minimally invasive procedures, advances in medical aesthetic technologies, more augmented research funding for photomedicine, and the development of compact, versatile and multifunctional photomedicine devices. Researches in the field of photomedicine to explore newer application is bringing in more investments. Researchers from the Massachusetts General Hospital proved that by using low-level laser therapy there was enhanced platelet production in animals with thrombocytopenia as compared to normal control. Thrombocytopenia is caused due to side-effects of certain drugs, leukemia, and drugs used for chemotherapy. Platelet transfusion is the established treatment for this but only used in severe cases since its risks complications include immunosuppression, allergic reaction and infection.

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Photomedicine Market: Segmentation

Photomedicine market is classified on the basis of technology, application and region.

Cold lasers also known as low-level lasers emit through its low-powered laser light do not heat the target tissues. These lasers are used to improve conditions related to advanced wound healing, pain management and conditions related to stroke and neurodegenerative disorders.

Photo medicine Market: Region-wise Outlook

A geographic condition regarding orthopedic trauma device market, it has been segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific and the Middle East & Africa. North America is the leading region in the photomedicine market owing to the presence of major market player. Moreover, as compared to other regions the adoption of photomedicine in the use of treatment and diagnosis is higher. This is due to the higher rate of research undertakings and the grants received to explore this area of medicine. Asia Pacific is also emerging region due to the developing economies. Moreover as it has a strong presence for foreign tourism, there has been a growing adoption of photomedicine. For instance, Lumenis Ltd. who manufactures energy-based devices for ophthalmology, surgical and aesthetic application supported a mission to treat burn injuries in Armenia. Through its LumenisUltraPulse to treat children with burn injuries. The company’s 2015 mission included the establishment of medical laser center in Arabkir Pediatric Hospitals.

Photomedicine Market: Some of the players in photomedicine market are

Lumenis Ltd.
PhotoMedex Inc.
THOR Photomedicine Ltd
Asclepion Laser Technologies GmbH
Alma Lasers
QBMI Photomedicine
IRIDEX Corporation
Syneron Medical Ltd.
AngioDynamics and Spectranetics.

Companies are bringing in new product technologies in photomedicine that can aid deep penetration and help in skin regeneration and other disorders. For instance, NovoTHOR Whole Body Light Pod was introduced by THOR Photomedicine. The product which uses photobiomodulation technique was launched in partnership with English Premier League soccer teams, U.S. and UK Military forces and the Harvard Medical School.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, technology and applications.

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The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico, Brazil)
Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX)
Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
Asia Pacific Excluding Japan (China, India, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, Rest Of MEA)

Photomedicine Market: Segmentation

Photomedicine market is classified on the basis of technology, application and region.

Based on technology the photomedicine market is segmented into the following:

Fluorescent Lamps
Lasers
Polychromatic Polarized Light
Full Spectrum Light
Dichroic Lamps
Light Emitting Diodes

Based on application the photomedicine market is segmented into the following:

Oncology
Dermatology
Dentistry
Ophthalmology
Surgical procedures
Others

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Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint

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GCC Outbound Tourism Market is Projected to Grow at 13.60% CAGR in 2022-2032

The GCC outbound tourism market is estimated to be appraised at US$ 65.5 Billion by 2032, up from US$ 18.3 Billion in 2022, progressing at a considerable CAGR of 13.60% during the forecast period.

Outbound tourism is when an individual travels outside his native country, either for vacation or business trip. Outbound tourism impacts the economy of a country owing to tourist spends; this brings in additional revenue to the country being visited.

The Gulf Cooperation Council is an international organisation comprising economic and political alliance of six major Middle Eastern countries – Kuwait, Saudi Arabia, Qatar, Bahrain, United Arab Emirates and Oman. The GCC countries are characterised by a fast growth in population year on year.

According to the World Travel and Tourism Council, the GCC countries contribute almost 60 percent of the outbound travel in the Middle East. There is a strong demand for outbound tourism in the GCC, except Bahrain, owing to the political stability and economic growth, according to the European Tourism Council (ETC). Almost 82 percent of outbound travels are particularly for leisure and 18 percent for business purposes.

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GCC Outbound Tourism: Motivational Drivers

“Travel for leisure” constitutes a major part of outbound travel in GCC countries. The leisure travel is influenced by free independent travellers, honeymooners, youth and family travellers. Tourists travel for visiting friends and relatives (VFR). The frequency of leisure travel and travel for visiting friends and relatives is increasing, which is driving more outbound arrivals.

The outbound arrivals owing to business are also showing good footfall owing to opportunities with respect to upcoming industries and businesses. International business engagements have increased, thereby propagating more business opportunities. The length of stay is also longer, which contributes to increased expenditure by tourists.

The luxury goods sector has a dominance in the GCC countries. The shopping tendency of tourists has increased as they spend on luxury goods and items. This has increased the inflow of money. In a way, smart phones and the internet also contribute to the increased outbound footfall.

It has allowed the common man to book tickets and hotel reservations and plan the entire tour with ease. Not only tourists but even hotels can manage the crowd easily making it very convenient for the tourists. This has increased tourist satisfaction levels, which has in turn boosted the growth of outbound tourism in the GCC countries.

Moreover, good facilities for tourists, good shopping opportunities, image of the destination (Dubai is well-known for the Burj Khalifa, a famous tourist attraction), culture and good exploration opportunities could also be considered as incremental factors impacting the GCC outbound tourism sector.

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GCC Outbound Tourism: Growing Areas

Outbound tourism statistics are impacted by the arrivals, overnight stays and the length of stay in the region. According to the European Tourism Council (ETC), in 2009 Saudi Arabia ranked 1st with 6 million arrivals with respect to outbound tourism followed by the UAE that recorded five million outbound arrivals.

In 2010 Saudi Arabia again topped the list in the GCC community with a record of seven million outbound arrivals. Destinations outside the Middle East are in Europe, Asia and rest of the world. In Europe, GCC tourists prefer United Kingdom, Germany, Austria, Switzerland and Italy.

As far as Asia is concerned, Malaysia and Thailand are famous for their tourist footfalls. Island regions such as Maldives and Mauritius are also experiencing an increased flow of GCC tourists. Australia is also one of the emerging tourist attractions.

According to the World Tourism Organisation (WTO), the Middle East outbound travel will reach £15 Billion by 2020. The most significant areas of growth are likely to be UAE, Saudi Arabia, Kuwait and Lebanon. The WTO states that GCC alone will represent above 60 percent of the outbound tourism sector.

There is great growth potential for the outbound tourism sector in the GCC countries. Factors such as growing population, rising middle class income and higher spending makes GCC a lucrative region for outbound tourism.

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This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

Key Segments in the GCC Outbound Tourism Market

By Tourism Type:

Holida0079
VFR (Visit Friends & Relatives)
Business
Others

By Traveler Type:

Independent Traveller
Tour Group
Package Traveller

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Event Tourism Market is Projected to Reach at a US$ 1.5 Trillion in 2022

The global event tourism market is said to progress at a CAGR of 4% during the forecast period, from US$ 1.5 Trillion in 2022, the market is predicted to reach US$ 2.1 Trillion by 2032.

Event tourism is the systematic planning, marketing and holding of events at tourist destinations. It is done in order to increase the number of domestic as well as foreign tourists. The number and type of stakeholders involved in event tourism differ from event to event. Various media such as electronic, print and especially social media play a major role in the promotion of event tourism. The awareness about the occurrence of an event, its schedules, entry passes, prices etc. is spread through digital media.

Attendees, employees, participants, spectators, sponsors, suppliers and volunteers are some of the key stakeholders of event tourism. The government, host communities, tourism organisations, tour operators and travel agencies play a significant role in event tourism.

An enormous amount of revenue is generated by the selling of souvenirs during events. Event tourism catalyses alcohol and culinary tourism as visitors taste cuisines at the destination during the event. Moreover, this leads to the growth of the tourism industry as tourists end up exploring other attractions of that destination. Cultural tourism is also promoted with the experience of new cultural diversity during the event.

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DIFFERENT TYPES OF EVENT TOURISM

Event tourism can be segregated into the following categories:

Arts & entertainment: Award ceremonies, concerts
Business & trade: Conventions and meetings, consumer and trade shows, fairs and markets
Cultural celebrations: Commemorations, carnivals, festivals, religious events
Educational and scientific: Clinics, conferences, seminars
Political and state: Political events, royal occasions, summits, VIP visits
Private: Parties, socials, weddings
Recreational: Games or sports for fun
Sports competitions: Amateur/professional, participant/spectator

All the aforesaid events can also be either “Hallmark events or Mega events” or both. A mega event is one that has more than 500 attendees while a hallmark event is one that is organised with the motive that the host community gets prominence in the tourism sector.

EVENT TOURISM: FAMOUS EVENTS AND ORGANISATIONS

Datenwrek GmbH’s “Oktoberfest” in Germany is the world’s largest beer festival and had 5.6 million visitors in 2016. Rio Carnival Service’s “Rio Carnival” in Brazil is the world’s largest carnival with two million people enjoying popular Brazilian origin music Samba on the streets every day.

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The Wimbledon Championships held in England attract tourists worldwide and is being held in London since 1877. “La Tomatina” festival is the world’s biggest food fight held in the town Bunol of Spain and receives an average influx of 50,000 tourists every year.

“The New York Fashion Week” held in the month of February in NYC is one of the major fashion events of the world. The International Live Events Association (ILEA) provides its stakeholders and members collaborative networking, credibility, educational development, inspiration, outward awareness and professional development to ensure a growing global events profession.

The International Association of Events & Exhibition (IAEE) is the leading association for the global exhibition industry which offers several meetings and educational programs throughout the year at an international level.

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EVENT TOURISM: CHALLENGES & CONCERNS

The increasing number of terrorist attacks are a constant threat to event tourism. The loss of lives in shootings and attacks across the world has put the security of the visitors at a big risk.

Event professionals are always trying to adopt different methods to manage the risk of terrorist attacks. Lack of coordination between the government, hotel organisations, restaurants and tour operators are gaps in any nation’s event tourism strategy.

Countries such as New Zealand are also facing the problem of lack of planning in this industry. Also, people are still unaware of the various events taking place in different parts of the world because of inadequate advertising campaigns by the event organisers. Moreover, lack of infrastructure in some countries is also restraining the growth of event tourism.

EVENT TOURISM: FUTURE OUTLOOK

The emerging middle class in developing economies and the increase in the number of outbound travellers from countries such as China will foster the growth of event tourism across the globe.

The increase in available funding options such as angel investors, advance ticket sales, bank loans, crowd funding enterprises, sponsorship programs and the sale of exhibition space has expanded the growth of event tourism. The globalisation of events coupled with consumer awareness is driving the event tourism industry. Event tourism is one of the major contributors to the growth of global GDP.

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Key Segments In The Event Tourism Market

By Type: