The global multi-cloud storage market is projected to reach a value of approximately US$ 111,326.6 million by the year 2032. This is a significant increase from its value of US$ 23,711.4 million in 2022. The market is expected to grow at a CAGR of 16.7% throughout the forecast period.
Several enterprises are expected to increase the adoption of multi-cloud storage owing to using numerous cloud environments to satisfy business requirements and concerns over increasing data loss. However, there are challenges associated with redesigning the network for the cloud, as well as a prevailing lack of adequate expertise, which are factors expected to hamper the market growth.
Multi-cloud storage can be used by web providers, enterprises, and other businesses in order to minimize the risk of data loss and also it helps to improve the quality of service. Multi-cloud storage offers several functions for storing and retrieving data and they are widely used as a shared storage solution for distributed applications.
The multi-cloud storage market refers to the industry segment focused on providing storage solutions across multiple cloud platforms. It involves storing data and resources on different cloud providers simultaneously, offering flexibility, redundancy, and optimization for diverse computing needs. This market is driven by increasing data volumes, demand for hybrid and multi-cloud strategies, and the need for efficient data management and security.
The multi-cloud storage helps organizations to adopt changing IT environments to minimize cost and to reduce the need for hardware and appliances.
Multi-Cloud Storage Market: Drivers and Challenges
The heavy adoption of emerging cloud-based platform-as-a- service (Paas) by several enterprises is one of the major factors driving the multi-cloud storage market. Multi-cloud storage provides easy access to end users working on different platforms.
The implementation of multiple cloud services is increasing as it helps to reduce dependency on a single vendor. The multi-cloud application management storage platform helps the organization to improve its overall performance by means of different infrastructure services to fulfill the computing needs of its users.
Integration issues of multi-cloud storage is one of the major restraints faced by the multi-cloud storage market.
Multi-Cloud Storage Market: Regional Overview
Presently, the North America region is holding the largest market share of multi cloud storage market followed by European and APAC region. In this region, Multi cloud storage market is growing gradually owing to the adoption of various cloud storage platforms and services by small and large-scale enterprises.
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
The Global Advanced Empty Capsule Industry is predicted to be worth USD 905.6 million in 2023 and is projected to register a CAGR of 7.4% by 2033. Demand initially expanded at a market CAGR of 7.3% between 2018 and 2022.
The projected growth of the Global Advanced Empty Capsule Industry is initially driven by the surging prevalence of chronic illnesses and an aging population. Moreover, the global market participants are likely to benefit from increased research and development efforts in the healthcare industry to enhance treatments.
Accelerated technological development and rising demand for in-home care surge the demand for advanced empty capsules. Market revenue streams are likely to reach new heights when paired with other variables, like customized offerings.
Market growth comes with several challenges; for instance, the global market is anticipated to be restrained by the restricted supply of raw materials needed to produce empty capsules.
During the projected period, the social stigma associated with raw materials originating from animals is also anticipated to impact sales of advanced empty capsules.
Global Advanced Empty Capsule Industry Key Takeaways
By 2033, the advanced empty capsule market in the United Kingdom is likely to expand, with a CAGR of 5.1%.
By 2033, the advanced empty capsule market in Russia is likely to expand, with a CAGR of 7.3%
The advanced empty capsule was significantly expanding, with a size of US$ 844.2 million in 2022.
In 2022, Europe expanded in the global advanced empty capsule business with a share of 67.5%.
In 2022, Germany expanded significantly in the advanced empty capsule business, with an expected share of 21%.
By 2033, India is projected to expand significantly in the advanced empty capsule, with a share of 7.9%.
In 2023, Australia is likely to develop significantly in the advanced empty capsule sector, with an expected share of 11.9%.
In 2022, the oral capsules segment expanded in the market with a significant share of 89.43% and is expected to hold a top spot in the market regarding product type.
Based on the raw material, the animal source segment dominated the industry in 2022, with a share of 66.58%.
Competitors Winning Strategies
Regional & local businesses and advanced empty capsule start-ups are fiercely vying for market share and promoting innovation for sophisticated empty capsules. Constant quality control, product improvement, new launches, and strategic alliances are vital tactics these businesses use to keep themselves competitive. This is done to meet the rising demand for high-tech empty capsules worldwide.
Recent Developments in the Global Advanced Empty Capsule Industry:
In May 2022, Capsugel introduced a white firm gelatin capsule devoid of titanium dioxide (TiO2-free), which satisfies the need for such meals in the European Union.
The Sheung brand created EmboCaps® on June 21, 2019. A rigid capsule called the Embocaps®LP+ was designed primarily to store liquids and fine particles. Several gelatin, vegetarian, and delayed-release versions of the Embocaps® LP+ are available.
Key Players from the Global Advanced Empty Capsule Industry:
Capsugel (Lonza)
ACG Worldwide
Medi-Caps Limited
Sunil Healthcare Limited
Roxlor LLC
CapsCanada Corporation
Suheung Co., Ltd.
Bright Pharma Caps
STERIS Plc
Fuji Capsule Co. Ltd.
QUALICAPS
Global Advanced Empty Capsule Industry Key Segments
By Product Type:
Oral Capsules
Dry formulation
Immediate-release capsules
Delayed-release capsules
Time delayed release capsules
Acid-resistant capsules
Enteric capsules
Liquid formulation
Inhalation Capsules
By Raw Material:
Animal Source
Contract Type-A (Pork Skin
Type-B Gelatin (Animal Bones & Calf Skin)
Fish Bone Gelatin
Vegetarian-based
HydroxyPropyl Methyl Cellulose (HPMC)
Starch
Pullulan
By Capsules Size:
Size “000” Capsules
Size “00” Capsules
Size “0” Capsules
Size “1” Capsules
Size “2” Capsules
Size “3” Capsules
Size “4” Capsules
Size “5” Capsules
By End User:
Pharmaceutical
Nutraceutical & Cosmetic
CROs
CMOs
By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
The global urinary bag market is set to exceed USD 1,899.3 million by the end of 2023, with a remarkable compound annual growth rate (CAGR) of 4.4% projected through 2033, bringing the total market value to approximately USD 2,911.7 million.
The growth of the urinary bag market can be attributed to the rising prevalence of urinary incontinence and urinary retention disorders, which have led to increased demand for effective management solutions. As healthcare providers and patients seek reliable products to enhance quality of life, the market for urinary bags has flourished.
Key Factors Driving Market Growth:
Increasing Prevalence of Urinary Disorders: The growing number of individuals affected by urinary incontinence and retention is a significant driver behind the rising demand for urinary bags.
Sustainability Initiatives: In response to growing environmental concerns, there is a heightened focus on developing sustainable urinary bag solutions. Manufacturers are investing in eco-friendly materials, recycling initiatives, and waste reduction strategies to create products that align with sustainable practices.
Technological Advancements: Innovations in product design and materials are improving the functionality and comfort of urinary bags, further boosting their adoption in healthcare settings and among patients.
Rising Awareness and Education: Increased awareness about urinary health management is encouraging more individuals to seek treatment options, contributing to the overall growth of the urinary bag market.
The global urinary bag market is poised for continued expansion as manufacturers innovate and address the evolving needs of healthcare providers and patients. With a strong emphasis on sustainability and product development, the industry is well-positioned to meet the demands of a changing market landscape.
In addition to this growing demand, there is a heightened focus on sustainability within the urinary bag sector. Manufacturers are responding to environmental concerns by investing in eco-friendly materials and implementing recycling initiatives. These efforts are aligned with a broader trend towards reducing waste and developing sustainable product solutions in the healthcare industry.
The combination of increased prevalence of urinary disorders and a push for environmentally responsible practices is shaping the future of the urinary bag market, promising both growth and innovation in the years ahead.
The emergence of smart and digital solutions has transformed the market. Innovative technologies such as wireless monitoring systems, smart sensors, and mobile applications have been integrated into Urinary Bags. Further, these technologies enable real-time monitoring of urine volume, temperature, and flow rates.
Digital solutions not only enhance patient monitoring but also facilitate remote patient management, reducing the need for frequent hospital visits and improving the efficiency of healthcare delivery.
Access to Urinary Bags can be a challenge, particularly in low-resource settings and developing countries. The availability and affordability of high-quality Urinary Bags may be limited. It may lead to inadequate management of urinary incontinence for patients who cannot afford or access appropriate products. Addressing this challenge requires a focus on affordability, distribution networks, and increasing awareness about the importance of proper urinary care.
Top Highlights from FMI’s Analysis:
In 2022, North America held a value share of 34.5% in the Urinary Bag industry.
The market in Europe accounted for a value share of 28.6% in 2022 on a global level.
By product type, drainage bags held a substantial value share of 52.24% in 2022.
The market value for Urinary Bags reached US$ 1821.0 billion in 2022, with a CAGR of 4.1% from 2018 to 2022.
Based on end-use, the hospitals sub-segment was predicted to account for a 40.2% share in 2022.
The market for Urinary Bags in India is likely to secure a 6.9% CAGR from 2023 to 2033.
How Fierce Is the Competition in the Urinary Bag Market?
The market consists of both established players with a strong market presence and new entrants striving to gain a foothold. Established companies have a competitive advantage due to their brand reputation, extensive distribution networks, and customer loyalty. Moreover, they often have the resources to invest in research and development, marketing, and strategic partnerships.
Companies in the Urinary Bag market engage in strategic partnerships, collaborations, and acquisitions to strengthen their market position and expand their capabilities. These alliances help in leveraging complementary strengths, accessing new markets, and sharing resources, leading to increased competitiveness in the market.
Ongoing investment in research and development allows companies to develop innovative products, improve existing offerings, and stay ahead of competitors. Companies that invest in research and continuously bring new and improved products to the market have a competitive edge.
Expanding into new geographic regions or targeting niche segments provides opportunities for growth and increased competitiveness. Companies that successfully enter new markets or address specific customer needs, gain an advantage over competitors.
Compliance with regulatory standards and certifications is crucial in the medical device industry, including the market. Manufacturers that meet or exceed regulatory requirements demonstrate their commitment to quality and patient safety, enhancing their competitive position.
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
The global ophthalmic eye drop market is on a growth trajectory, with projections indicating an increase from USD 17,271.8 million in 2024 to USD 25,876.4 million by 2034. This expansion reflects a compound annual growth rate (CAGR) of 4.7% over the forecast period.
In 2023, the ophthalmic eye drop market was valued at USD 16,390.6 million, showcasing a robust year-over-year growth of 5.4% in 2024. The increasing prevalence of eye disorders, combined with a growing aging population and rising awareness about eye health, is driving demand for ophthalmic eye drops.
This growth is driven by the increasing prevalence of eye-related disorders such as dry eyes, glaucoma, and other ocular conditions, which require frequent use of eye drops. Additionally, advancements in ophthalmic formulations and rising awareness about eye health are further contributing to the market’s expansion.
The expansion of the ophthalmic eye drop market reflects a broader trend towards enhanced treatment options and greater access to eye care solutions. Innovations in formulations and delivery mechanisms are contributing to market growth, as well as an increasing focus on personalized medicine and patient-centric care.
New eye drop product launches, branded as well as generic, are expected to be hampered in the short term due to disruptions in the supply chain, delayed pipeline research and development, and a shift in the priority of leading healthcare companies to COVID-19 vaccine and treatment developments.
According to the report, institutional sales of ophthalmic eye drops will rise considerably in the coming years. It will account for over half of ophthalmic eye drops sold through the forecast period.
“Increasing prevalence of eye infections, technological advancements, and high risk of infections from the increasing use of contact lens isexpected to boost the growth of the Global Ophthalmic Eye Drops Industry.” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Key Takeaways from Global Ophthalmic Eye Drops Industry Study
Ophthalmic eye drops market will expand consistently to surpass a valuation of US$ 15 Bn by 2021
The U.S. holds over 92.1% share of the North American market, but Canada is projected to expand faster at around 4.0% CAGR
Rising cases of eye infection will drive sales in the U.K., enabling it to register 3.9% y-o-y growth in 2021
Rising willingness to spend on advanced eye care will drive sales in Germany and France
Expansion of the healthcare sector will emerge as the chief growth driver in China and Japan. Both countries will exhibit a high demand for dilation drops
Due to their increasingly active lifestyle and desire for better aesthetics, many people are shifting to contact lenses. However, many ocular infections are associated with the use of contact lenses. Each year in the United States, approximately 1 million eye infections occur related primarily to keratitis, a fungal infection of the cornea, and contact lens infections account for estimated direct costs of $175 million. In addition, 40.9 million U.S. adults wear contact lenses, and 99% of 4,269 contact lens wearers reported at least one contact lens–related hygiene behavior associated with an increased risk for eye infection or inflammation. Nearly a million eye infections requiring a trip to the doctor happen each year, many of them related to contact lens use.
Who is Winning?
The top players are focusing on increasing acquisitions at the regional level. Acquisitions empower the company with products and increase the company’s portfolio. The company acquires other players to possess well-established products and solutions that are expected to become a good revenue source for the acquirer. Acquisitions also enable the company to enter new emerging markets as well as enhance its presence in existing markets. Furthermore, key market players such as Novartis and Gerresheimer AG are focusing on the expansion of their market reach in different regions. For example-
In November 2020, Gerresheimer Regensburg announced that it was expanding its production area in Germany. The company has planned the expansion of its production capacity in small batch production, as a result of increasing development projects for pharmaceutical and medical technology products.
In November 2019, Sandoz announced that it has entered into a binding agreement for the planned acquisition of the Japanese business of Aspen Global Incorporated (AGI), a wholly owned subsidiary of Aspen Pharmacare Holdings Limited, strengthening its position in the world’s third-largest generics market.
Some of the key market players covered by FMI include Novartis AG, Bausch & Lomb, Akorn, Inc., Biomedica, AdvaCare Pharma, C2 PHARMA, Kraeber GmbH, Iskon Remedies, HANSHIN GROUP, Berry Global Inc., Nolato AB, Bormioli Pharma, WG Pro-Manufacturing Inc., Gerresheimer AG, Adelphi Healthcare Packaging, Aptar Group Inc., and Amcor Plc.
Global Ophthalmic Eye Drops Industry by CategoryDrug Class
Anesthetic Drops
Dilation Drops
Glaucoma Drops
Steroid Drops
Antibiotic Drops
Others (Antihistamines, Lubricants Tear Drops)
Indication
Dry Eye
Eye Allergy
Glaucoma
Eye Infection
Retinal Disorders
Macular Degeneration
Diabetic Retinopathy
Others
Uveitis
Others
Drug Formulation
With Preservative
Preservative Free
Container Type
Single Dose Container
Multiple-Dose Container
Distribution Channel
Institutional Sales
Hospitals
Community Clinics
Ophthalmic Clinics
Public Health Agencies
Veterinary Hospitals & Clinics
Retail Sales
Retail Pharmacies
Drug Stores
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
According to Future Market Insights, the market for trade management software is predicted to expand at a CAGR of 10.9% from 2022 to 2032. By 2022 and 2032, the market is projected to reach US$ 1.2 billion and US$ 3.4 billion, respectively. Utilizing trade management software, companies may boost sales and raise the return on investment (ROI) of their marketing investments from producer to wholesaler to retailer to consumer.
Using trade management software, importers and exporters may manage challenges in international trade. Additionally, they assist in lowering the risks and keeping costs associated with international trade under control in today’s compliance-driven and security-conscious industry. These are going to be the main market drivers.
The demand for more effective global logistics and cargo tracking increases along with the volume of global trade. Software for trade management has features that help traders and companies lower supply chain and compliance risks. It establishes connections between importers and exporters and their foreign vendors, logistical service providers, brokers, and carriers.
The software can be used by businesses to keep track of and monitor cross-border transactions. By automating the coordination of cross-border transactions, the program lowers risk and assists in the efficient control and administration of imports-exports, as well as regulatory and legal regulations.
Additionally, as globalization continues to advance, there will be a major rise in global traffic, which will help meet the rising demand for freight transportation in the ensuing decades. In addition to changing trade flows and logistical strategies, the extra rail, barge, and marine routes will contribute to this increase in demand.
To maximize the use of new trade routes, businesses might employ trade management software. Additionally, networked logistics are being made possible by the integration of technologies like AI, ML, IoT, and others, and this is anticipated to significantly increase demand for trade management software.
APAC is anticipated to dominate the global market for trade management software during the anticipated time frame. APAC has developed into a global manufacturing powerhouse and is made up of a number of developing nations that are each seeing rapid expansion in their respective manufacturing industries. Many corporations are being lured by China and other developing nations like India, South Korea, and Vietnam to move their low- to medium-skilled manufacturing operations to nearby nations with less expensive labor.
Key Takeaways from the Market Study
In 2022, the global trade management software market is estimated to have a global market size of US$ 1.2 Billion
By component, the solutions segment took 35% of the global trade management software market share in 2021
By deployment type, the cloud segment acquired a market size of 28% in 2021.
The transportation and logistics segment is expected to grow with a 10.6% CAGR during 2022–2032.
Asia Pacific is a highly opportunistic market, expected to grow at a 10.3% CAGR
Over 2/5th of the global trade management market revenue will be contributed by North America
Competitive Landscape
In 2021, Oracle partnered with Pharmaniaga Berhad. Pharmaniaga Berhad (Pharmaniaga) has selected Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) to improve logistical operations for COVID-19 vaccine delivery in Malaysia. Pharmaniaga can improve the efficiency and security of its logistics operations by adopting Oracle Cloud SCM to automate planning and execution processes and receive real-time shipment analytics.
SAP Hong Kong and consulting behemoth Deloitte collaborated in 2021 to bring major benefits to cross-border trade firms. Deloitte, in collaboration with SAP, offers one-stop end-to-end global trade services, including SAP GTS-enabled Smart GTS.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global trade management software market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022–2032.
The study reveals essential insights on the basis of component Types (services, solutions), by deployment (on-premise, cloud), organization size (SMEs, large enterprises), by vertical (Transportation And Logistics, Government And Public, Healthcare And Life Sciences, Aerospace And Defense, Manufacturing, Consumer, Goods And Retail, Energy Utilities, Others) and Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Key Segments Covered in the Trade Management Software Market Report
Trade Management Software Market by Component:
Trade Management Software Solutions
Trade Management Software Services
Trade Management Software Market by Deployment:
On-premise Trade Management Software
Cloud-based Trade Management Software
Trade Management Software Market by Organization Size:
Trade Management Software for SMEs
Trade Management Software for Large Enterprises
Trade Management Software Market by Vertical:
Trade Management Software for Transportation and Logistics
Trade Management Software for Government and Public
Trade Management Software for Healthcare and Life Sciences
Trade Management Software for Aerospace and Defense
Trade Management Software for Manufacturing
Trade Management Software for Consumer Goods and Retail
Trade Management Software for Energy Utilities
Trade Management Software for Other Verticals
Trade Management Software by Region:
North America Trade Management Software Market
Latin America Trade Management Software Market
Europe Trade Management Software Market
Asia Pacific Trade Management Software Market
Middle East & Africa Trade Management Software Market
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
The global large scale bearing market is projected to witness substantial growth, with a noteworthy Compound Annual Growth Rate (CAGR) of 8.0% expected between 2023 and 2033, reaching an estimated value of USD 760.3 million. This anticipated expansion reflects significant shifts in various industries, spurred by relentless technological advancements.
Driving this upward trend is a notable increase in industrialization and automation, which is reshaping sectors across the globe. Companies are embracing automation and mechanization to bolster efficiency, productivity, and overall operational capabilities. As industries continue their journey towards heightened industrialization, the demand for large bearings capable of withstanding heavy loads and ensuring smooth rotation is becoming increasingly essential.
The global market for large-scale bearings grew at 6.7% CAGR from 2018 to 2022, reaching USD 353.5 million in terms of value in 2023.
The United States large scale bearing industry is expected to reach a valuation of USD 685.3 million by 2033.
The United Kingdom’s large scale bearing industry is expected to cross a value of USD 11.9 million by 2033.
China’s large scale bearing industry is anticipated to top a valuation of USD 144.7 million in 2033.
With a CAGR of 8.6% estimated from 2023 to 2033, the gearbox bearing segment is anticipated to rule the global large scale bearing market by application.
“Ongoing construction of infrastructure projects, including power plants, bridges, and dams has increased demand for large scale bearings. These projects require strong, dependable bearings to support the operation of diverse components, assuring lifetime and trouble-free operation,” – says an analyst at Future Market Insights (FMI).
How Does Competition Look in the Large Scale Bearing Market?
The large scale bearing industry is highly consolidated with a significant number of players vying for high shares. Several significant participants in this industry comprise SKF Group, ThyssenKrupp GmbH, Schaeffler Group, Timken Company, and NTN Corporation among others.
The large scale bearing industry is characterized by intense competition among leading players, who are investing heavily in research & development to develop innovative and cost-effective products. These companies are also expanding their product offerings and strengthening their distribution channels to meet the changing demands of customers.
Collaborations and partnerships with other firms are becoming increasingly common in the market, allowing participants to leverage each other’s capabilities and expand their reach. Mergers and acquisitions are being used by key players to enhance their position and gain access to new markets, particularly in rapidly growing economies such as India and China.
For instance,
NSK expanded their line of electrical erosion immune bearings in March 2023 for axles. These bearings have insulating polymer coatings and conductive brushes. These will strengthen NSK’s flexibility to respond to different client needs regarding electrical erosion and help to increase EV dependability and range.
Minebea Mitsumi announced Honda Lock Mfg. Co., Ltd.’s full acquisition of all of its shares in January 2023. The company and Honda Motor Co., Ltd. had a share transfer agreement in existence prior to August 2022 for the purchase of Honda Lock Mfg. Co., Ltd. shares.
The domestic booster pumps market size is anticipated to rise from USD 2,860.1 million in 2023 to USD 5,732.3 million in 2033.
The global heat pump market is anticipated to secure a valuation of USD 58.7 billion by 2033.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
The Global Sterilants Industry is poised for substantial expansion, with projections indicating a substantial leap from USD 2361.627 million in 2023 to an impressive USD 4244.1 million by the year 2033. This significant surge reflects a robust Compound Annual Growth Rate (CAGR) of 6%, underscoring positive market momentum over the forecast period.
The forecasted market growth is attributed to a confluence of factors, including increased awareness of sterilization practices across various industries, rising demand for healthcare services, and advancements in sterilization technologies. The 6% CAGR showcases a resilient and upward trajectory, highlighting the market’s ability to capitalize on evolving trends and technological advancements.
Industries and healthcare facilities must follow the sterilization process. In the Global Sterilants Industry, effective and compatible sterilants or sporicidal agents have been demanded due to the increasing incidence of infection transmission through surgical instruments or contaminated surfaces in contact with human skin and tissues.
A major driver of the sterilant market is the growing demand for processed food that uses sterilants to preserve food and protect it from microorganisms. As medical equipment must be sterilized with sterilants such as peracetic acid, the growing healthcare industry also contributes to the growth of the global sterilant market.
Due to the increasing use of sterilants in agriculture to protect crops, the global sterilant market is expected to grow in the coming years. Furthermore, sterilants such as peracetic acid are environmentally friendly, making them preferred for sterilizing medical equipment; in addition, they leave no toxic residues after application, making them an opportunity for the future.
“The growing demand for sterilized environments (in terms of sterilized surgical instruments and equipment) and surging demand for compatible sterilants have driven opportunities for manufacturers. Strategic acquisitions and collaborations by the manufacturers are leading to high growth of the Global Sterilants Industry in the coming years.” – says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from Global Sterilants Industry Study
The sterilants market is expected to grow at a CAGR of 6% over the forecast period.
It is estimated that the sterilants market in North America will remain strong during the forecast period.
The hospital segment accounted for the highest share of the sterilants market with a CAGR of 4.5%.
Ethylene oxide has the highest revenue share of US$ 605.31 million in 2023 and is expected to rise to an annual revenue of US$ 995.42 million by 2033 with a 5.1% CAGR between 2023 and 2033.
It is expected that the market in the United States will demonstrate a high level of growth by the year 2033.
Global Sterilants Industry Competitive Landscape:
There is a high level of competition in the market as many leading players focus on various market consolidation activities, such as mergers, acquisitions, supply distribution partnerships, and product launches. Manufacturers need to expand their market footprint and provide solutions to their end users. Nowadays, many leading manufacturers offer customized solutions to meet the needs of a variety of end users.
Several prominent companies dominate the Global Sterilants Industry, including:
3M Company
Steris Plc.
Cantel Medical Corporation
Evonik Industries AG
Arkema S.A.
Thor Group
Metrex Research, LLC
Ecolab Inc.
Solvay SA
LANXESS
Contec, Inc.
OZU Corporation
Cetylite, Inc.
Veltek Associates, Inc.
Whiteley Corporation
Gul Biyoloji Laboratuvari
Global Sterilants Industry Recent Developments:
Astell Scientific launched the latest AstellBio Sink line of Effluent Decontamination Systems (EDS) capable of sterilizing polluted wastewater automatically before releasing it into the sewer system in October 2021. The AstellBio Sink prevents the spread of harmful organisms by deactivating biological agents up to and including level 3.
Earlier this year, Sodexo announced its partnership with Ecolab Inc. to offer the latest infection prevention products and services to healthcare facilities and hospitals across the country. Protecta Plus, Sodexo’s unique program, uses Ecolab’s hydrogen peroxide vapor technology to further reduce the risk of infection.
A high-level disinfectant named Rely+On Virkon was launched by Lanxess in response to a pandemic outbreak in 2020. Hard surfaces and equipment will be highly contaminated, so the product will be highly effective.
Global Sterilants Industry Segmentation by Category
By Product:
Ethylene Oxide (EtO)
Glutaraldehyde
Hydrogen Peroxide Gas Plasma (HPGP)
Vaporized Hydrogen Peroxide
Immersion and Vapor Phase Peracetic Acid
Others
By Form:
Liquid
Spray
By End-user:
Hospitals
Clinics
Ambulatory Surgical Centers
Diagnostic Laboratories
Reference Laboratories
Rehabilitation Centers
Long Term Care Centers
Critical Care Centers
Pharmaceutical & Biotechnology Companies
Academics and Research Institutes
Homecare Settings
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
The safety relays market is positioned for notable growth, with a projected Compound Annual Growth Rate (CAGR) of 8.3% from 2023 to 2033. Projections indicate significant revenue expansion, with the market anticipated to elevate from USD 630.3 million in 2023 to an impressive USD 1.4 billion by 2033, marking a substantial increase from its 2022 valuation of USD 575.6 million.
This robust growth trajectory is driven by several factors, with workplace safety emerging as a central motivator. In an era prioritizing safety, industries are making considerable investments to safeguard the well-being of their workforce. This proactive approach involves the integration of advanced safety relay systems, not only as a preventive measure against accidents but also as a resilient defense against risks in industrial environments.
Key Drivers and Trends Shaping the Global Safety Relays Industry:
Drivers:
Industrial Automation Demand: The escalating adoption of industrial automation systems across various sectors is a significant driver. Safety relays ensure employee safety, contributing to the growth of the industry.
Government Regulations: Stringent safety regulations enforced by governments worldwide are propelling the industry. Safety relays play a pivotal role in meeting safety standards, boosting their demand.
Automotive Sector Growth: The automotive industry’s expansion is fueling the need for safety features in vehicles. Safety relays contribute to passenger safety, thus driving their sales.
Trends:
Integration with Safety Devices: Integrating safety relays with other safety devices is a prevailing trend. This integration minimizes errors and enhances glitch detection, fostering safety relay growth.
Wireless Safety Relays Adoption: The increasing adoption of wireless safety relays offers flexibility and ease of installation, contributing to sales growth.
Shift to Programmable Safety Relays: A shift towards programmable safety relays, known for their simple installation and maintenance, is further driving demand within the industry.
Key Players and Innovative Strategies in the Safety Relays Industry:
Prominent manufacturers are adopting a customer-centric approach by providing customization options for their safety relay solutions. This strategy enables them to meet the unique requirements of diverse industries, expanding their reach to a wider customer base. These advancements encompass self-monitoring features, advanced diagnostics, enhanced connectivity choices, and improved fault tolerance.
Leading Contributors in the Safety Relays Market:
Schneider Electric
Siemens AG
ABB Ltd.
Rockwell Automation
Omron Corporation
Eaton Corporation
Pilz GmbH & Co. KG
Phoenix Contact
Mitsubishi Electric Corporation
These companies design, produce, and offer a diverse array of safety relays tailored to varying customer needs and specifications.
Recent Notable Developments:
In March 2019, Pilz unveiled PNOZmulti, a graphics setup software application that simplifies the operation of complex tasks. This innovative offering allows intuitive configuration using the Programmable Logic management system PSS, enhancing the automation systems’ capabilities.
In January 2019, Rockwell Automation, Inc. acquired Emulate3D, a pioneering technical software company specializing in digitally simulating and emulating automation systems. This strategic acquisition bolsters Rockwell Automation’s industry presence and technological capabilities.
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Antibiotics Active Pharmaceutical Ingredient Market
The global antibiotics active pharmaceutical ingredient (API) market is set to achieve a valuation of USD 8,653.0 million in 2023, with expectations to grow to USD 12,002.3 million by 2033. This growth represents a compound annual growth rate (CAGR) of 3.3% during the forecast period.
The increasing demand for antibiotics, coupled with the ongoing advancements in pharmaceutical manufacturing, is driving the growth of the antibiotics API market. As the global healthcare landscape continues to evolve, the importance of efficient and effective antibiotic treatments remains paramount in combating various bacterial infections.
Key Drivers of Market Growth:
Rising Incidence of Bacterial Infections: The increasing prevalence of bacterial infections worldwide is driving the demand for antibiotics, consequently boosting the API market.
Technological Advancements: Innovations in the production and formulation of antibiotics are enhancing the efficiency and effectiveness of treatments, contributing to market growth.
Focus on Research and Development: Growing investments in R&D for developing new antibiotic formulations and delivery methods are expected to propel the market forward.
Regulatory Support: Supportive regulatory frameworks aimed at promoting the development of new antibiotics are facilitating market expansion.
The antibiotics API market is poised for steady growth, offering significant opportunities for pharmaceutical manufacturers and stakeholders to innovate and expand their product portfolios to meet the rising demand.
The rising demand for antibiotics, driven by the increasing prevalence of bacterial infections and the growing need for advanced therapeutic solutions, is contributing to this market growth. Key players in the industry are focused on enhancing their production capabilities and investing in research and development to meet the rising global demand for antibiotics APIs.
This growth is driven by the increasing demand for antibiotics in the treatment of bacterial infections, rising awareness of antimicrobial resistance, and ongoing advancements in pharmaceutical manufacturing technologies. The expansion of healthcare infrastructure and the development of novel antibiotics to combat resistant strains are also contributing to the market’s positive outlook.
The antibiotics API market plays a crucial role in the global healthcare ecosystem by providing essential components for the production of life-saving medications. As the demand for effective and innovative antibiotics continues to rise, the market is positioned for sustained growth and advancement.
Additionally, increased healthcare expenditure by governments is enabling greater funding for antibiotic drug development and manufacturing. This is sustainably fueling the upward growth trajectory of the Global Antibiotics Active Pharmaceutical Ingredient Industry.
The COVID-19 pandemic is anticipated to have a detrimental effect on the market for antibiotic APIs. Several of the biggest pharmaceutical companies, research universities, and biotech companies have been chosen to address the issue. They are now focusing on creating coronavirus vaccines rather than other drugs as a result. Hospital beds are scarce, and several APIs are in short supply.
Due to the rising demand and widespread use of penicillin as a first-line antibiotic therapy to treat various bacterial infections, the penicillin antibiotics segment dominated the antibiotics API market in 2021 with a market share of 51.1%. It is anticipated that pharmaceutical corporations will dominate the end-user market. Through the projected period, they are anticipated to hold more than 77% of the market and continue to dominate.
Key Takeaways from Global Antibiotics Active Pharmaceutical Ingredient Industry Study
The Global Antibiotics Active Pharmaceutical Ingredient Industry is estimated to be US$ 8.01 Bn in 2020, with the market expected to exhibit a CAGR of 3.1% during the forecast period (2020-2030)
The U.S. holds over 92.1% share of the North American market, but Canada is projected to expand faster CAGR
The U.K. market will showcase steady y-o-y growth at 2.1% in 2021
The demand from Germany and France will rise at a positive rate through the forecast period
Within East Asia China will emerge as a key market, while Japan and South Korea will continue exhibiting steady demand
“Increasing prevalence of bacterial diseases, extreme use of antibiotics and rising investment in R&D areexpected to boost the growth of the Global Antibiotics Active Pharmaceutical Ingredient Industry.” says the FMI Analyst
Rising investment in R&D sector in order to develop advanced molecules is the major factor expected to boost the antibiotic API market growth.
For instance, Sandoz, the Novartis biosimilars and generics division, undergoes a joint investment, with the Austrian federal government, to enhance the long-term future of integrated antibiotics manufacturing in Europe.
Key players in the Global Antibiotics Active Pharmaceutical Ingredient Industry are Entering into the Strategic Alliance
The top players are focusing on increasing acquisitions at regional levels. Acquisitions empower the company with products and increase the company’s portfolio. The company acquires to possess well-established products and solutions that expects to account good revenue source for the acquirer. This also enables the company to enter new emerging markets as well as enhance the existing markets.
For instance, in August 2019, Nanjing Dorra Pharmaceutical Technology collaborated with Meitheal Pharmaceuticals, the fully integrated generic injectables company, for elevating the manufacturing capacity of the active pharmaceutical ingredients in the region of U.S. The collaboration enabled Meitheal Pharmaceuticals to invest into the Nanjing Dorra Pharmaceutical Technology.
Who is Winning?
The Global Antibiotics Active Pharmaceutical Ingredient Industry is set to expand its scope in the forecast period, as a result of rising prevalence of various bacterial diseases, and growing investment in R&D. The antibiotics market is highly competitive and consists of several major players. Pharmaceutical companies are more focused towards outsourcing of antibiotics API manufacturing due to the involvement of high capital investment in the establishment of Antibiotics API manufacturing units.
The key market players covered by FMI include:
Sandoz International GmbH, Centrient Pharmaceuticals, CordenPharma International, ACS DOBFAR SPA, Nanjing Dorra Pharmaceutical Technology Co. Ltd., DAEWOONG PHARMACEUTICAL CO. LTD., Parabolic Drugs Ltd., Penam Laboratories Ltd., ASIATIC DRUGS & PHARMACEUTICALS PVT. LTD., Fresenius Kabi, The United Laboratories International Holdings Limited, Aurobindo Pharma Limited, Unimark Remedies Ltd., Savior Lifetec, Shenzhen Haibin Pharmaceutical Co., Ltd., Sterile India Pvt. Ltd., Zhejiang Jiuzhou Pharmaceutical Co. Ltd., and Kyongbo Pharm, consolidating their positions through mergers, acquisitions and new product launches.
Key segments profiled in the antibiotics active pharmaceutical ingredient (API) market Industry survey
By API Type:
Penicillin Antibiotics
Ampicillin
Amoxicillin
Dicloxacillin
Penicillin G Sodium
Benzathine
Procaine
Cephalosporins
Cefotaxime
Ceftriaxone
Cefuroxime
Cefalotin
Carbapenem Antibiotics
Meropenem
Imipenem
Ertapenem
By End User:
Pharmaceutical Companies
Contract Manufacturing Organizations (CMOs)
Contract Development & Manufacturing Organizations (CDMOs)
By Region:
North America
Latin America
Europe
East Asia
South Asia
Middle East and Africa (MEA)
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
The global continuous miners market is witnessing significant growth, characterized by a Compound Annual Growth Rate (CAGR) of 3.3% expected from 2023 to 2033. This trajectory is poised to result in a substantial valuation exceeding USD 4,416.6 million by 2033, with a notable milestone predicted to reach around USD 3,193.3 million by 2023.
The escalating demand for continuous miners is propelled by the mining sector’s imperative for efficient and advanced machinery to cater to the global upsurge in demand for crucial natural resources like coal and minerals. These indispensable machines extend their impact beyond mining operations, playing a pivotal role across various industries including manufacturing, construction, and energy. Their significant contribution to powering and supporting diverse sectors underscores their paramount importance in the industrial landscape.
The expansion of mining operations on a global scale stands out as a prominent catalyst propelling the continuous miners market forward. Heightened energy demands in both developed and developing nations have spurred the call for coal mining, thereby driving the growth of the continuous miners market. As mining processes embrace innovative technologies, the demand for electric continuous miners is expected to rise, significantly contributing to market expansion.
Contributing Factors to Market Dynamics:
The surge in power generation projects holds significant sway over the continuous miners market’s trajectory. Furthermore, the utilization of continuous miners extends beyond coal mining to encompass rock salt and potash mining, given their advanced technology and efficiency. This diversification is poised to further propel market growth.
Challenges and Limitations:
While the continuous miners market experiences growth, challenges do arise. The substantial costs associated with preventive maintenance and the initial investment pose potential obstacles to market expansion throughout the forecast period.
Emerging Trends in Equipment Utilization:
The contemporary trend of adopting versatile equipment rental systems within the mining and construction sectors is expected to gain momentum. This trend is anticipated to amplify the continuous miners market as prominent equipment manufacturers provide these machines for rent. This approach is particularly appealing to medium and small-sized enterprises seeking flexible solutions for their operations.
Notable Observations from the Report:
Rising Power Generation Needs to Drive Demand for Continuous Coal Miners in the U.S.
India’s Focus on Sustainable Mining to Boost Underground Continuous Miner Sales.
Global Trend Towards Electric-Powered Continuous Miners Gaining Momentum.
Anticipated Surge in Demand for Continuous Miner Machines within the Coal Mining Sector.
Competitive Scenario:
The worldwide continuous miners market displays a dynamic and intensely competitive landscape, with numerous global contenders actively engaged in the sector. Leading the pack are major players including Sandvik AB, Caterpillar Inc., Komatsu Ltd, Eickhoff Corporation, Becker Mining Systems AG, and FLSmidth & Co. A/S, among others.
Manufacturers in this industry are directing their efforts toward introducing novel products and pursuing acquisition strategies.
For instance, in September 2021, Caterpillar unveiled advanced automation features for their mining trucks, aiming to enhance operator efficiency.
Market Segmentation:
By Product Type:
Diesel Miner
Electric-powered Miner
By Cutting Height:
Below 3m
3m to 4m
Above 4m
By Cutter Type:
Borer
Oscillating
Horizontal Drum
By Application:
Coal Mining
Rock Salt Mining
Potash mining
Others
By End User:
Mining Companies
Contractors
Equipment Rental Companies
By Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
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The estimated market size for desiccant dehumidifiers is anticipated to reach USD 822.4 million by 2033.
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
