Market Research Blog – Page 11273 – New Product Development

Precision Stainless Steel Market Latest Advancements and Business Opportunities 2029

The demand witnessed in the global precision stainless steel market is increasing at a rapid pace. With its use across various sectors including industrial, civil, mechanical, and others increasing, Future Market Insights (FMI) has forecast the precision stainless steel market is to reach US$ 3.2 Bn dollars by 2029.

Precision stainless steel comes in many varieties and this feature combined with its easy workability makes it popular among industries. Players are on the lookout for every type of precision stainless steel to design and manufacture their industrial goods.

As there is a constant rise in the manufacturing of industrial goods, the growth prospect of the precision steel market seems promising. FMI’s study offers a comprehensive overview of the market. It studies the key growth drivers as well as gauges investment feasibility across various segments. Some of the key takeaways from the report are highlighted below.

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Key takeaways from the precision stainless steel market:

The under 0.1mm category is expected to take up approximately 25% of the global precision stainless steel market. It is also expected to reach 800 million dollars by 2029
With precision stainless steel being used for the manufacturing of seamless pipes and tubes, the automotive segment is said to have a strong foothold with a CAGR of 3.8%
Precision stainless steel also has its use in the electronics and transportation industry. This guarantees a 2/5^th share value in the global market between 2020-2029
East Asia is expected to overtake other regions and create an opportunity to reach 388.7 million dollars by 2029
By 2029, South Asia is expected to expand by 1.4 times of current market value

“Some of the leading manufacturers operating in the global precision stainless steel market are aiming to capitalize on opportunities prevalent across high potential markets in East Asia. Expansion of automotive sector and construction activities in China, Japan, and South Korea are causing shift of focus among companies from developed to high potential markets,” said FMI analyst.

Demand Likely to Reduce during COVID-19

The global precision stainless steel market has witnessed a reduction in demand for precision stainless steel owing to the pandemic. Covid-19 has caused a disruption in the supply chain of industries across the globe.

Lockdown orders enforced in regions such as Europe, Asia, and North America have hampered production activities in across plants. This heavily impacted the global precision stainless steel market.

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Who is winning?

Top players of precision stainless steel contribute approximately 40-45% to the global market value. Some of the leading key players are Acerinox, Baoshan Iron & Steel Co., AK Steel Corporation, Outokumpu Oyj, Jindal Stainless Group, and Aperam.

These players are trying to cope up with the after-effects of the pandemic and implement new strategies to get back to their production processes.

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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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Interventional Radiology Market is Expected to Grow at a CAGR of 5.4% From 2022 – 2032

[304 Pages Report] According to the exclusive report of Future Market Insights (FMI), the global interventional radiology market is expected to grow at a CAGR of 5.4% during the forecast period by going up from US$ 24.9 Bn in 2021 to US$ 44.5 Bn market in 2032.

With the increasing cases of several chronic diseases worldwide there has been a growing demand for advanced treatment procedures by the help of Scanners and X-ray vision technologies. These type of interventional radiology glasses and devices not only help in effective treatment of diseases by provide a better scope of early diagnosis rendering it a growing market in recent years.

Introduction of interventional radiology in every level of healthcare facilities has provided the requisite impetus for the rapid growth of interventional radiology that can be witnessed in developing countries as well.

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As the non-emergency medical services were abruptly halted during the outbreak of Covid-19 Mandeville in 2020 it had some negative impacts on the growing demand for interventional radiology devices installations.

However, the later discovery of seriousness associated with co-morbid diseases the global interventional radiology market surged with rising introduction of interventional radiology in new healthcare and medical facilities. In the post-pandemic years the application of radiology equipment has grown favouring the interventional radiology service providers.

Several devices equipped with modern technologies such as X-ray systems, MRI Scanners, CT Scanners and other type of medical imaging equipment have dominated the health care sector in recent days.

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Key Takeaways

By 20221, Cardiology Segment was valued at US$ 7.7 Bn in terms of revenue contributed the global interventional radiology market.
The Gastroenterology segment is poised to record a higher growth projection during the forecast years reaching a value of more than US $ 2 Bn by 2028.
Among several procedures angioplasty segment will expected to grow at a CAGR of 5.8% during the forecast period.
US market dominates the interventional radiology for medical students having a net worth of more than US$ 8 Bn.
In Europe, Germany is the prominent region for the interventional radiology market players valued at US$ 1.5 Bn in terms of revenue generated.

Competitive Landscape

Carestream Health Inc., Hologic Inc., GE Healthcare, Fujifilm Corporation, Samsung Healthcare (Samsung Electronics Co., Ltd.), Shimadzu Corporation, Siemens Healthineers, Canon Medical Systems Corporation, and Olympus Corporation are some of the prominent players of the global interventional radiology market covered by the market analysis report.

A large number of local players have occupied the market by supplying equipments related to interventional radiology for medical student’s requirements.

In the field of ultrasound, digital radiography and computed tomography Samsung Healthcare, a subsidiary of Samsung Electronics Co., Ltd, launched a premium product for diagnostic imaging solutions in December 2020. This initiative for ultrasound guided interventional procedures carried out at Radiology Society of North America (RSNA) 2020 assisted the company in expanding their product portfolio in North America and beyond.

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Canon Medical launched an upgraded product under the Aquilion ONE/PRISM Edition by the name of One-Beat Spectral Cardiac CT in November 2020. THE Aquillion Edition assisted with deep learning spectral capabilities is a major development in the field of cardiac exam and after interventional radiology glasses.

GE Healthcare division of General Electrical Company launched an advanced ultrasound system by the name of LOGIQ E10 in March 2018. This system has been equipped with comprehensive tools that can provide treatment for a wife range of diseases and remote control applications to improve efficiency.

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Anti-Counterfeit Cosmetic Packaging Market Expected to Witness High Growth by 2027

Expanding at a CAGR of 8.7%, the global anti-counterfeit cosmetic packaging market is projected to increase from a valuation of US$ 32.6 Bn in 2022 to US$ 49.5 Bn by 2027, according to a recently published study by ESOMAR-certified market research company Future Market Insights (FMI).

As global cosmetic consumption rises, unscrupulous entities are looking to flood the market with counterfeit, duplicate and sub-standard product lines, damaging the credibility of prominent cosmetic manufacturers. Various instances of product recalls have been reported due to the presence of toxic ingredients.

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To prevent this, companies are investing in advanced counterfeit and tamper-proof packaging solutions, incorporating a combination of smart and conventional technological enhancements. Special emphasis is laid on multifunctional packaging, widening growth prospects.

Key Takeaways from the Study

Global anti-counterfeit packaging market to expand at nearly 9% value CAGR from 2022-2027
Europe remains a lucrative market, Asia-Pacific expanding rapidly
By packaging format, bottles to capture over 45% of global revenue share by 2027
RFID detection to remain preferred anti-counterfeit packaging technology, registering a value CAGR of 9.5%
PET plastics to be preferred packaging material choice during the forecast period
High implementation costs may restrict growth, especially in small and medium scale enterprises

“Heightened awareness about safe packaging amongst consumers is prompting cosmetic companies to provide accurate product information, accelerating need for advanced packaging solutions,” says the FMI analyst.

COVID-19 Impact Analysis

The COVID-19 pandemic has altered consumer purchasing behaviour, with preference for contactless delivery taking precedence. Therefore, e-commerce channels are experiencing swelling business activity. This has sustained the demand for cosmetics across prominent geographies. This consistency in cosmetics sales is propelling the anti-counterfeit cosmetic packaging market.

Demand for skincare products has especially increased multi-fold, with consumers becoming highly cautious about their health. Striving to avoid contact with the virus, they are utilizing skincare products to prevent any kind of surface level infection. Therefore, anti-counterfeit solutions for skincare pharmaceuticals and cosmetics are witnessing enhanced uptake.

Market Structure Analysis

The global anti-counterfeit cosmetic packaging market is characterized by the presence of numerous regional and global level players.

Avery Dennison Corporation,
CCL Industries Inc.,
Zebra Technologies Corporation,
Honeywell International Inc.,
OpSec Security Inc.,
Uflex Limited
Label Makers Pty Ltd.
AlpVision SA
Authentix Inc.
Alien Technology Corp.

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The aforementioned players rely on product launches and inclusion of advanced virtual technologies. Moreover, they also rely on strengthening regional distribution frameworks to penetrate lucrative markets.

In 2021, Alien Technology Corp. introduced the Higgs ^TM9-inch memory IC, a next-generation RFID semiconductor integrated circuits. This device offers precise memory retention and read reliability under the most hostile conditions. Additionally, the system does not require additional input software.

In January 2022, CCL Industries Inc. acquired Ibertex Etiquetaje Industrial S.L.U. and Eti-Textil Maroc S.a.r.l. AU. The acquisition was worth approximately US$ 19.6 million. In March 2022, the company acquired Flexpol Sp. Z.o.o.

More recently, in June 2022, Fozzy Group, one of Ukraine’s largest grocery retailers, implemented Zebra Technology’s mobility solutions, including Android mobile touch computers, handheld scanners and software security.

Key Segments of Anti-counterfeit Cosmetic Packaging Industry Survey

Anti-counterfeit Cosmetic Packaging Market By Technology :

RFID
Security Inks & Printing
Security Seals
Holograms
Mass Encoding
Barcode
Digital Encryption & Serialization

Anti-counterfeit Cosmetic Packaging Market By Packaging Format :

Anti-counterfeit Cosmetic Packaging for Bottles
Anti-counterfeit Cosmetic Packaging for Jars
Anti-counterfeit Cosmetic Packaging for Tubes
Anti-counterfeit Cosmetic Packaging for Sachets
Anti-counterfeit Cosmetic Packaging for Pumps & Dispensers
Others

Anti-counterfeit Cosmetic Packaging Market By Material :

Glass Anti-counterfeit Cosmetic Packaging
Paperboard Anti-counterfeit Cosmetic Packaging
Metal Anti-counterfeit Cosmetic Packaging
Plastic Anti-counterfeit Cosmetic Packaging
Polyethylene (PE) Anti-counterfeit Cosmetic Packaging
Polypropylene (PP) Anti-counterfeit Cosmetic Packaging
Polyethylene Terephthalate (PET) Anti-counterfeit Cosmetic Packaging
Others

Anti-counterfeit Cosmetic Packaging Market By Application :

Skincare
Hair Care
Makeup
Fragrance
Nail Care

Anti-counterfeit Cosmetic Packaging Market By Region :

North America Anti-counterfeit Cosmetic Packaging Market
Latin America Anti-counterfeit Cosmetic Packaging Market
Europe Anti-counterfeit Cosmetic Packaging Market
East Asia Anti-counterfeit Cosmetic Packaging Market
South Asia & Pacific Anti-counterfeit Cosmetic Packaging Market
Middle East & Africa (MEA) Anti-counterfeit Cosmetic Packaging Market

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Medical Carts Market is projected to reach a valuation of US$ 943.5 Million by 2022

[170 Pages Report] The global Medical Carts Market is slated to enjoy a valuation of US$ 3.4 Bn in 2022, and is predicted to surge at a CAGR of 7.8% to reach US$ 5.3 Bn by the end of 2028.

Growing need for quick access to mobile electronic health records at the point of care has led to surge in demand for medical carts globally. In addition, increasing demand for improving operational efficiency in the healthcare industry is projected to impact the global market growth of medical carts positively. Future Market Insights states that the global market of medical carts is projected to reflect a CAGR of 11.0% over the forecast period, 2022-2028.

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Factors Fuelling the Global Market Growth

Growth of the global medical carts market is mainly bound to various macro-economic and micro-economic factors. As the need for accessing medical records at the point of care continues to increase, mobile healthcare technology is projected to witness significant adoption. Growing concerns regarding healthcare expenditure has further led the manufacturers to develop mobile technology carts for the outpatient facilities, large academic medical centers, and acute care centers.

Adoption of medical carts equipped with technological features allows the end users to retrieve and store information to enhance patient safety. In addition, medical carts allows the end users to spend less time worrying about the technology and offer better services to the patients in the hospitals.

In order to offer ease of movement to the end users, the healthcare manufacturers are increasingly focusing on designing medical carts. Bad design elements include sharp edges in medical carts along with wheel design that impedes navigation and results in ineffective performance. In addition, inability to adjust the height of cart and lack of battery power indicator can also pose significant challenges for the end users while conducting an operation. Increasing demand for medical carts designed with ergonomics will further contribute towards the global market growth of medical carts over the forecast period.

Adoption medical carts allows the caretakers to accommodate computers that can conveniently be accessed to perform multiple operations in the healthcare setup. As medical carts are incorporated with battery systems medically approved by FDA along with wireless technology, healthcare professionals and caretakers can conveniently access, store and retrieve the patient information in the clinics and hospitals. In addition, adoption of medical carts in various healthcare institutes has lowered the healthcare expenditure and also saves space. These factors are expected to impact the global market growth of medical carts positively throughout the forecast period.

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Market Players

InterMetro Industries Corporation
Omnicell Inc.
Capsa Solutions Llc
Armstrong Medical Industries Inc.
Midmark Corporation
Medline Industries Inc.
ITD GmbH
The Bergmann Group
Ergotron Inc.
Jaco Inc.
AFC Industries Inc.

Sales to Remain High for Computer Medical Carts

Growing need to access the health records of patients at the point of care has led to surge in demand for computer medical carts in the healthcare industry. In terms of revenue, the computer medical carts product type segment is projected to represent the highest growth, recording more than US$ 1,800 Mn by 2028-end. On the other hand, the other product type segment is projected to reflect the fastest growth in the global market over the forecast period.

By 2022-end, the hospitals end users segment is projected to generate significant revenues, accounting for more than US$ 800 Mn. In contrary, the diagnostic centres end users segment is projected to reflect the highest CAGR throughout 2028.

Based on energy source, the non-powered segment is projected to witness a robust revenue growth, recording for more than US$ 3,100 Mn by 2028-end. On the other hand, the powered energy source segment is projected to reflect a significant CAGR over the forecast period.

During the forecast period, the plastic material type segment is projected to reflect the fastest growth in the global market of medical carts. However, the metal material type segment is projected to represent a robust revenue growth, accounting for around US$ 1,300 Mn by 2022-end.

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Key Segments of Medical Carts Industry Survey

By Medical Carts Market by Product Type:

Emergency Carts
Procedure Carts
Anaesthesia Carts
Computer Medical Carts
Other Product Types

By Medical Carts Market by End User:

Hospitals
Clinics
Ambulatory Surgical Centers
Diagnostic Centres
Other End Users

By Medical Carts Market by Material Type:

Metal Medical Carts
Plastic Medical Carts
Wooden Medical Carts

By Medical Carts Market by Energy Source:

Powered Medical Carts
Non-Powered Medical Carts

By Medical Carts Market by Region:

North America Medical Carts Market
Latin America Medical Carts Market
Europe Medical Carts Market
East Asia Medical Carts Market
South Asia & Pacific Medical Carts Market
Middle East & Africa (MEA) Medical Carts Market

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Foodservice Paper Bags Market to Reap Excessive Revenues by 2020-2030

Over the years, there has been a gradual shift from plastic-based products towards sustainable, environment-friendly products. As concerns regarding the adverse effects of plastic continue to mount, products derived from paper have emerged as a fitting alternative.

In its new market study, Future Market Insights (FMI) has forecasted that the global foodservice paper bags market will record healthy growth between 2020 and 2030, and will progress at a CAGR of 5.4%. Moreover, the study projects that the market will attain a global valuation of US$ 1.45 Bn by 2030.

In the recent past, rising concerns regarding alarming levels of pollution caused by plastic have compelled several nations to impose a ban on plastic materials. This is promoting foodservice providers to opt for sustainable packaging solutions, thus driving the demand for paper bags.

Along similar lines, the proliferation of online food delivery and the growing trend of on-the-way meals are positively influencing the adoption of paper bags in foodservice applications. As end-users seek packaging solutions that are strong and leakage-proof, manufacturers are emphasizing on innovation in product design.

“Market players are focusing on developing products with high tensile strength and better quality to gain an edge over their counterparts, plastic bags, which are stronger than paper bags,” remarks FMI analyst.

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Key Takeaways

Brown kraft-based paper bags are expected to account for more than 4/5th of market value, owing to their stiffness.

Non-handle bags will remain the most sought type, capturing nearly 2/3rd of market value, backed by their convenience and low cost.

On the basis of end-use, restaurants are poised to capture more than half of overall global value, ascribed to the rising trend of take-away.

Europe is projected to spearhead the regional landscape of the market, capturing more than 1/3rd of market value.

East Asia will prevail as the second most lucrative regions through the forecast period, holding a quarter of the market value.

COVID-19 Impact on Foodservice Paper Bags Market

The outbreak of COVID-19 is exhibiting a dual impact on the packaging industry and it clearly reflects in the demand for paper bags in the foodservice sector. As people across the world remain confined in their homes, packaged food has emerged as a solution for their food cravings.

With efficient online food delivery services in place, consumers are resorting to online orders. This will aid the demand for paper bags to sustain during the forecast period to an extent. However, the closure of restaurants and other food outlets coupled with limitations on the production front will pose a challenge to the steady growth of the market during the pandemic.

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Who is Winning?

Key players in the market are focusing on producing sustainable products to comply with the existing norms on packaging methodologies. Along similar lines, traditional growth strategies such as acquisitions, mergers, and expansions will continue to shape the competitive landscape. On these lines:

In 2019, Amcor launched a new recyclable packaging format that is capable of reducing carbon impact by 64%.

In the same year, Westrock company completed acquisition of KapStone Paper and Packaging Corporation with an intention to expand its product portfolio.

FMI’s report includes profiles of some of the most prominent names in the market including WestRock Company, Huhtamaki Oyj, Paperbags Limited, Novolex Holdings LLC, Ronpak Inc., The Mondi Group LLC, Amcor Ltd., Vegware Ltd., Stora Enso Oyj., Smurfit Kappa Group, International Paper Company, Georgia Pacific LLC, Welton Bibby And Baron Limited, Biopac (UK), United Bags Inc. and Global-Pak.

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Coagulation Analysers Market is projected to reach a valuation of US$ 831 Million in the year 2027

[211 Pages Report ]A new report published by Future Market Insights titled ‘Coagulation Analysers Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)’ studies the performance of the global coagulation analysers market over a 10 year assessment period from 2017 to 2027. The report presents the value forecast of the global coagulation analysers market and provides useful insights into the factors driving market growth as well as the factors restricting market growth. The estimates point to a revenue growth from US$ 756 Mn in the year 2017 to US$ 1,514 Mn by 2027 end, resulting in a CAGR of 7.2% during the period of assessment.

Growing Prevalence of Cardiovascular Diseases and an Increase in the Number of Cancer Patients Fuelling Revenue Growth of the Coagulation Analysers Market

Cardiovascular diseases are one of the leading causes of deaths in the world and are considered as a global disease burden. As per the data provided by WHO, 17.5 million people across the world die from cardiovascular diseases every year, which accounts for 31 percent of all the deaths globally. In light of this, coagulation tests such as PT/INR are commonly used blood tests to identify the risk of cardiovascular diseases. An increasing prevalence of cardiovascular diseases is expected to boost the global market for coagulation analysers during the forecast period.

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Research has indicated that malignancy affects the haemostatic system and vice versa. An imbalance of the haemostatic system in cancer patients raises their chances of developing thrombosis, haemorrhage or both. In addition, the haemostatic factor plays an important role in tumour progression and haemostatic components and cancer biology are interconnected in various ways. As per the American Cancer Society, in the year 2016, nearly 1,685,210 new cancer cases were registered in the U.S. This increase in the number of cancer patients is expected to drive the global coagulation testing market during the assessment period.

Global Coagulation Analysers Market: Segmentation and Forecast

The report segments the global coagulation analysers market on the basis of product type and end user. On the basis of product type, coagulation analysers are categorised as standalone analysers, table top analysers and portable analysers. On the basis of end use, the coagulation analysers market is segmented into hospitals, clinical laboratories and others.

The table top analysers segment by product type is estimated to be valued at US$ 208 Mn in the year 2017, and is projected to reach a valuation of US$ 432 Mn by the end of the year 2027, exhibiting a CAGR of 7.6% during the period of assessment.
By end use, the hospitals segment is estimated to be valued at US$ 244 Mn in the year 2017, and is projected to reach a valuation of US$ 450 Mn by the end of the year 2027, registering a CAGR of 6.3% during the period of assessment.

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Global Coagulation Analysers Market: Regional Forecast

Future Market Insights tracks the performance of the global coagulation analysers market across the key geographies of North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa. As per the forecast of Future Market Insights, the North America coagulation analysers market is estimated to be valued at US$ 286 Mn in the year 2017 and is projected to reach a value of US$ 546 Mn by the year 2027, exhibiting a CAGR of 6.7% during the period of assessment. The Western Europe coagulation analysers market is estimated to be valued at US$ 147 Mn in the year 2017 and is projected to reach a value of US$ 314 Mn by the year 2027, exhibiting a CAGR of 7.8% during the period of assessment.

Global Coagulation Analysers Market: Vendor Insights

This report includes some of the important players operating in the global coagulation analysers market such as Instrumentation Laboratory, F. Hoffmann-La Roche Ltd, Helena Laboratories Corporation, Thermo Fisher Scientific Inc., Rayto Life and Analytical Sciences Co., Ltd., Nihon Kohden Corporation Siemens AG, Beckman Coulter Inc. (Danaher Corporation), Sysmex Corporation, Abbott Laboratories and Siemens AG. Manufacturers are concentrating on developing advanced analysers at a lower price, with an objective to witness an increase in their market share.

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Market Taxonomy Product Type

Standalone Analysers
Table Top Analysers
Portable Analysers

End User

Hospitals
Clinical Laboratories
Others

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Electrostatic Discharge (ESD) Packaging Market Expectations and Growth Trends Highlighted Until 2030

A recent study published by ESOMAR-certified Future Market Insights on the global ESD packaging market establishes that the market is slated to expand impressively through 2030.

Deepening internet penetration has accelerated the adoption of various electronic and IoT devices with a view to streamline production and operational efficiency. Hence, production of integrated circuit boards, chips and other material has risen, providing immense scope for expansion of electrostatic discharge packaging solutions.

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Prolific developments are expected in the automobile manufacturing segment, with companies seeking to leverage automation and cloud computing systems to generate greater output. However, near-term prospects appear sluggish in the wake of the COVID-19 pandemic.

Key Takeaways from FMI’s ESD Packaging Market Report

ESD packaging bags continue to witness high demand
Electrical & electronic components manufacturing to witness high adoption of ESD packaging
North America to emerge as market hegemon, East Asia to be the fastest expanding market
Presence of metallic powder in ESD packaging is likely to impede adoption, owing to high possibility of component damage

“Vendors are relying on customization of product offering to cater to multiple industries, thereby enhancing their future revenue prospects,” comments the FMI analyst.

COVID-19 Impact Analysis

The COVID-19 pandemic has had varying impacts on the growth prospects of electrostatic discharge packaging across different end-use industries. While uptake across electronics and electrical goods manufacturing has surged, industries such as manufacturing and automotives have registered substantial decline in the past few months.

In the former case, growth has remained sustained due to the enforcement of work from home guidelines by various business organizations. This has stimulated demand for IoT devices such as smartphones and laptops. Hence, production of these devices’ internal assembly parts has accelerated, broadening revenue prospects for ESD packaging solutions.

In the latter scenario, falling production and output levels as a consequence of government-enforced shutdowns has stalled demand for IoT devices in these sectors. Thus, sales of ESD packaging solutions have suffered a substantial fall. This sluggishness is expected to prevail until 2021-end.

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Competitive Landscape

A plethora of manufacturers operate within the ESD packaging landscape. Some prominent vendors include, but are not restricted to: Conductive Containers Inc., Tandem Equipment Sales Inc., Elcom (UK) Ltd., Global STATCLEAN SYSTEMS and NEFAB Group among others.

Amongst all strategies deployed by the abovementioned market players, it has been discovered that offering customized packaging solutions is the best approach in order to withstand the high degree of competition within the market.

Furthermore, vendors are capitalizing on mergers and acquisitions in order to cope with the ever changing market scenario across the most lucrative growth regions. Product innovation is yet another approach adopted by several players.

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Smart Insulin Pens Market Growth Share, Industry Dynamics, Top Trends and Regional Analysis Forecast to 2031

ESOMAR-certified consulting firm Future Market Insights (FMI) projects the global smart insulin pens market is likely to surpass the billion dollar mark by 2021, expanding at a positive CAGR, as per a newly published research report. A stupendous double digit growth rate has been predicted for the market in the long-run. Growing preference for non-invasive treatment and the ever widening diabetes burden are likely to steer the market in a forward direction.

According to FMI’s report, the market posted significant gains in the past, with Bluetooth smart insulin pens generating over 30% of the revenue share in 2017. Also, according to the International Diabetes Federation, presently, just under half a billion people are living with diabetes worldwide, and their number is projected to increase by 25% in 2030, and 51% by 2045 respectively.

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Manufacturers, therefore, are leveraging these trends to introduce novel and innovative product lines, enabling them to secure a firm footing in the market. In November 2020, for instance, Medtronic launched its InPen^TMsmart insulin device equipped with real-time Guardian^TMConnect CGM Data- the first smart insulin pen for diabetics on multiple daily injections. Recently, in April 2021, BioCorp and Roche Diabetes Care launched the Mallya smart insulin pen device in France.

Key Takeaways from FMI’s Smart Insulin Pens Market Report

By connectivity, Bluetooth connected smart insulin pens to account for over half of the revenue share by 2031
By indication, type 2 diabetes treatment to account for the bulk of smart insulin pens deployment
Retail pharmacies were the primary distribution channels for smart insulin pens, e-commerce sales spiking rapidly
US to experience credible growth amid increasing approval rates for new diabetes management devices
Growing preference for needle-free insulin injections to widen adoption across the UK
Germany & France to experience increased collaborations between key manufacturers in the long-run
Large concentration of regional level manufacturers to pivot growth across India and China

Smart Insulin Pens Market – Key questions answered in the report

What trends are in store for the smart insulin pens market growth?
According to FMI, the global smart insulin pens market is likely to register a multi-billion dollar valuation in the short and long-run forecasts, attributed to a general increase in the global diabetic population pool and the consequent increase in hospital workload. Demand for Bluetooth connected smart insulin pens is expected to remain especially high
Which is the most promising smart insulin pens market?
As per FMI’s analysis, demand for smart insulin pens are expected to remain high across the US market, attributed to unceasing efforts by the government to eradicate the diabetes epidemic by virtue of extensive advertising campaigns. Additionally, India and China are expected to emerge as the dominant markets in the Asia-Pacific region, characterized by the presence of numerous regional level manufacturers

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Which prominent players operate in the global smart insulin pens market?

Digital Medics Pty Ltd.,
Emperra GmbH e-Health Technologies,
Companion Medical Inc.,
Sanofi Aventis LLC,
Novo Nordisk A/S,
Eli Lily and Company,
Companion Medical,
Diabnext,
Jiangsu Delfu Medical Device Co. Ltd.,
DIAMESCO Co Ltd.,
Patients Pending Ltd (Bigfoot Biomedical Inc.),
BERLIN-CHEMIE

are some major smart insulin pens manufacturers profiled in FMI’s report

Competitive Landscape

Major insulin pens manufacturers are effectively leveraging major expansion strategies, ranging from new product launches and R&D to collaborating with existing manufacturers or outright/partial acquisition of key market players. A major emphasis is being laid on incorporating virtual technological advancements to enhance diabetes management.

In February 2021, Novo Nordisk and the University of Toronto announced a CAD 40 million investment deal to establish the Novo Nordisk Network for Healthy Populations. This network will focus on new approaches to address diabetes and aid in chronic disease prevention. This will likely help broaden smart insulin pens development.

Companies are also focusing on providing advanced software platforms, such as Digital Medics’ DiabetesPlus DataSync Software. This platform enables users to download insulin and glucose data directly from the device. Key features include downloading insulin data from the insulin pen, glucose levels from the glucose meter and synchronization of data on the Cloud for use with mobile devices.

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According to FMI’s report, the following insulin pens manufacturers currently operate in the global market:

Digital Medics Pty Ltd.
Emperra GmbH e-Health Technologies
Companion Medical Inc.
Sanofi Aventis LLC
Novo Nordisk A/S
Eli Lily and Company
Diabnext
Jiangsu Delfu Medical Device Co. Ltd.
DIAMESCO Co Ltd.
Patients Pending Ltd (Bigfoot Biomedical Inc.)
BERLIN-CHEMIE

Smart Insulin Pens Market – Key Segments Covered

Indication

Diabetes Type I
Diabetes Type II

Connectivity

Bluetooth Connected
USB Connected

Distribution Channel

Clinics & Ambulatory Surgical Centers
E-Commerce
Retail Pharmacies

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Packaging Testing Market Estimated to Expand at a Robust CAGR By 2031

Future Market Insight (FMI) estimates that packaging testing revenues will increase significantly from 2021 to 2031, with worldwide revenues up 12.3% year over year in 2021. Driven by introduction of new standards and regulations to increase sale of packaging testing equipment, the packaging testing market is forecast to reach valuation of US$ 12.60 Billion by the end of 2021.

Consumers are seeking convenient packaging options which are lab tested and stand true on the parameters of quality and quantity defined by regulation committees. Package testing is performed on packaging materials using scientific equipments to evaluate the suitability of contact material with processed and frozen foods, medicines drugs, etc.

Increasing demand for recyclable and biodegradable packaging has fueled the demand for packaging testing for different packaging materials under different conditions. Pharmaceutical drugs and food and beverage manufacturers are employing packaging testing to fulfill the complex packaging standards to build brand reputation. These factors are emerging as the key growth drivers in packaging testing market.

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Introduction of new standards by International Organization for Standardization, ASTM International, European Committee for Standardization, TAPPI, Military Standards, and ISTA (International Safe Transit Association) are also making a positive impact on the market growth.

Increasing consumer demand for rugged product packaging along with growing demand from product manufacturers for packaging that are highly durable and keeps product safe from impurities and damage will propel the packaging testing market growth throughout 2031.

Medical products and devices are required to go variety of testing services to evaluate the strength and durability of medical device packaging and ensure compliance with defined regulations and standards. Similar consumer electronics companies are also engaging in package testing to eliminate product damage by poor packaging. Rise in number of testing procedures like water-proof testing and drop testing is expected to generate significant revenue in packaging testing market.

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Key Takeaways from FMI’s Packaging testing Market Study

North America packaging testing market is poised to grow at a prolific 10% CAGR during the forecast period. Growth uptick can be attributed to strict regulatory compliances issued by U.S. Food and Drug Administration, high demand for packaged foods and increase in consumption of medicines in U.S. and Canada.
Driven by rise in export and production of sustainable and safe packing in U.K. and Germany, Europe packaging testing market is forecast to grow at astronomical CAGR of 11.2% through 2031.
Japan will account for 26% of East Asia packaging testing market share, in the wake of rising geriatric population and increasing demand for pharmaceutical drugs for treating chronic diseases in the country.
South Korea market will exhibit significant growth owing to increasing demand for sustainable packaging for ready-to-eat and drink food & beverages in the country. South Korea will hold around 14% of East Asia packaging testing market share in 2021.
Food and beverage packaging testing registered stupendous growth due to rise in consumption of ready-to-eat packaged foods during pandemic crisis in 2020. The modern packaging offers longer shelf life for necessary food items, and thus are becoming common in households.

“Rise in cases of chronic ailments have accelerated the demand for pharmaceutical drugs across the globe. Growing need for safe and secure packaging to protect the drugs will drive the market growth in upcoming years,” says the FMI analyst.

Competitive Landscape

According to FMI, market players are looking to ramp up their production capabilities as they are planning to introduce new and innovative packaging testing solutions. Strategic partnerships between market players are on the cards, to gain the upper hand in this competitive environment.

In July 2021, ProAmpac, a leading flexible packaging company started new innovation and collaboration center in Rochester, New York. The company aims to expand its physical and analytical laboratory testing services portfolio for multiple applications.

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Liquibox and WestRock, two leaders in sustainable packaging collaborated and developed a “Ships In Own Container (SIOC)” bag-in-box solution for Amazon in 2021. This new packaging system reduces waste and eliminates the leakages, costly returns and brand reputation damage.

Prominent players operating in the packaging testing market are:-

SGS SA
Intertek Group Plc
Bureau Veritas SA
Eurofins Scientific SE
ALS Limited
TUV SUD AG
Mérieux NutriSciences Corporation
Microbac Laboratories Inc.
National Technical Systems Inc.
EMSL Analytical Inc.
Institut fur Produktqualitat GmbH
Campden BRI

More Insights into Global Packaging Testing Market

In its latest report, FMI offers an unbiased analysis of the global packaging testing market, providing historical data for the period of 2020-2030 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of material type (plastic, metal, paper and paperboard, glass, wood and others), testing type (physical, chemical, and microbiological), packaging application (food and beverages, healthcare, pharmaceuticals, medical devices, chemical and fertilizers, personal care and cosmetics, electrical and electronics, automotive, and industrial), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa).

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Transcatheter Heart Valve Replacement (TAVI) Market is projected to advance at an impressive CAGR of 12% from 2022 to 2032

[250 Pages Report] As per comprehensive research conducted by ESOMAR-certified consulting firm FMI, the global Transcatheter Heart Valve Replacement (TAVI) market is projected to witness robust growth during the forecast year 2021-2031. The report emphasizes on providing key insights into diverse features including demand, product developments, revenue generation, and sales in the Transcatheter Heart Valve Replacement (TAVI) market.

The study offers a detailed analysis of dynamics including driver, restraints, opportunities, and challenges, and also highlights their consequent impact on the market.

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Advent of Telehealth and Virtual Care to Create Tailwind for the Transcatheter Heart Valve Replacement (TAVI) Market Growth

Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.

During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.

Since the outbreak, telehealth have gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Transcatheter Heart Valve Replacement (TAVI) market.

Key Transcatheter Heart Valve Replacement (TAVI) Market Takeaways and Projections

The U.S. is estimated to continue dominating the North America market, projecting fastest growth in the region through 2031.
Germany Transcatheter Heart Valve Replacement (TAVI) market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2021 and 2031.
China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
India is forecast to emerge as a highly remunerative market in South Asia, contributing for the largest sales in the region over the coming 10-years.

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Report Benefits & Key Questions Answered

Transcatheter Heart Valve Replacement (TAVI) Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Transcatheter Heart Valve Replacement (TAVI) market. It also studies the impact of these dynamics on the market for the previous assessment period 2016-2020 to forecast the scope of market growth over the coming forecast period 2021-2031.
Transcatheter Heart Valve Replacement (TAVI) Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Transcatheter Heart Valve Replacement (TAVI) market. As per the survey, Transcatheter Heart Valve Replacement (TAVI) sales will project steady growth over the forecast period.
Transcatheter Heart Valve Replacement (TAVI) Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Transcatheter Heart Valve Replacement (TAVI) market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
Transcatheter Heart Valve Replacement (TAVI) Category & Segment Level Analysis: FMI’s category & segment level analysis provides insights into key factors affecting the market growth across various segments in terms of (segment 1), (segment 2), and (segment 3). It also uncovers critical opportunities across each segment to assist key players to capitalize on the,
Transcatheter Heart Valve Replacement (TAVI) Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.

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Competitive Landscape Analysis

The latest study conducted by FMI provides in-depth insights into the global Transcatheter Heart Valve Replacement (TAVI) market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Transcatheter Heart Valve Replacement (TAVI) market.

Scope Of Report

Report Attribute	Details
Growth rate	CAGR of 12% from 2022 to 2032
Base year for estimation	2021
Historical data	2015 – 2020
Forecast period	2022 – 2032
Quantitative units	Revenue in USD Million, volume in kilotons, and CAGR from 2022 to 2032
Report coverage	Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,
Segments covered	Product, Surgical Approach, Application, Region
Regional scope	North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand
Country scope	U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa
Key companies profiled	Abbott, HighLife Medical, 4C Medical Technologies, JC Medical, LivaNova, Boston Scientific, Edwards Lifesciences, Medtronic plc, and Neovasc
Customization scope	Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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