Data Center Power Management Market is expected to reach US$ 37,345.8 Mn & 6.9% CAGR during the forecast period 2022–2032

In 2021, the data centre power management market had total revenue of US$18.2 billion. The data center power management market is anticipated to develop at a 6.9% CAGR from 2022 to 2032, reaching around US$ 37.3 billion.

Data Center Power Management Base year (2021) Market Value US$ 18,170.2 Mn
Projected year (2032) Value US$ 37,345.8 Mn
CAGR% (2022-2032) 6.9%
Top 5 Vendor Market Share Around 50%

The report predicts that the market would be valued US$ 19 billion by the end of 2022. Future Industry Insights claims that the market is growing as a result of the increased global demand for data consumption per person.

Data centres are essential to modern society. The digitalization of the world economy and the considerable shift toward cloud-based data storage are driving up demand for data centres internationally.

There is an enormous amount of energy needed to run this network of data centres. As a result, the adoption of sustainable energy sources and an integrated approach to data centre power management are influencing the global market for this technology.

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Key Takeaways
Through 2032, the DCIM (data centre infrastructure management) software market is projected to expand at a strong CAGR of around 8%.
Between 2022 and 2032, the UPS (uninterruptible power supply) systems market is projected to expand at a CAGR of 8.3%.
The hyperscale data centres market, by data centre type, will increase at a CAGR of 9.0 percent by 2032.
Industry-wise, the BFSI segment will increase at the highest rate—a CAGR of 9.7%—between 2022 and 2032.
The data centre power management market is dominated by North America, but with a 9 percent CAGR, South Asia & Pacific will experience the fastest growth.
Tier-4 data centres will experience the highest growth, with a CAGR of 8.2 percent between 2022 and 2032.

“Demand for technologically advanced items is rising as a result of economic expansion in China, India, and other emerging economies. In order to grow their operations throughout Asia Pacific, data centre power management component manufacturers, distributors, and suppliers are likely to focus on these markets, according to an analyst at FMI.

By modernising existing data centres, hardware component demand will increase.
The market for data centre power management is expanding as a result of data centres being upgraded to increase their performance. Infrastructure, energy backup facilities like UPSs, and modifications to power distribution units are examples of such improvements.

Data centres are in greater demand as green infrastructures are being used more frequently. A clever automated system that monitors and manages support systems like cooling equipment, power backup, and distributes makes excellent use of electricity and hence decreases the consumption of electricity.

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Competitive Landscape

Both large- and medium-sized data centre power management players are present in the industry, which defines it. Leading companies are using a variety of techniques, including mergers and acquisitions, partnerships, and collaborations, to increase their client base. Government activities worldwide as well as the development of private data centres are opening up significant growth opportunities for new industry players.

For instance,

Eaton finished acquiring Tripp Lite in March 2021 in order to grow its power business in the Americas. The acquisition contributed to the expansion of single phase UPS business, the IT product line, and better services for its data centre clients. It also broadened the scope of edge computing.
ABB Ltd. announced the introduction of a cutting-edge UPS system in March 2020. The MegaFlex system has a 45 percent smaller environmental footprint, is resilient, and is compact in size. With high-efficiency converters, it provides decreased energy loss and sustainable power technology.

Key Companies Profiled

ABB, Eaton, Schneider Electric SE, DataSpan, Huawei Technologies Co., Ltd., Toshiba Electronic Devices & Storage Corporation, Bxterra Power Technology, Cyber Power Systems, Inc., General Electric, ZPE Systems, Inc., Aggreko, Sunbird Software, Inc., Elco Solutions, Socomec, Hewlett Packard Enterprise, Enlogic, Delta Electronics, Inc., Raritan Inc., Toshiba Electronic Devices & Storage Corporation

Data Center Power Management Market by CategoryBy Component:

  • Hardware
    • Power Distribution Units (PDUs)
    • Power Generators
    • Uninterruptible Power Supply (UPS) Systems
      • Modular UPS
      • Conventional UPS
    • Others
  • DCIM (Data Center Infrastructure Management) Software
  • Services
    • Consulting Services
    • System Integration & Implementation Services
    • Maintenance and Support Services

By Data Center Type:

  • Modular Data Centers
  • Colocation Data Centers
  • Cloud Data Centers
  • Edge Data Centers
  • Hyperscale Data Centers
  • Micro Mobile Data Center

By Data Center Tier:

  • Tier-1 Data Centers
  • Tier-2 Data Centers
  • Tier-3 Data Centers
  • Tier-4 Data Centers

By Installation Type:

  • New Installation
  • Retrofit/Upgrade

By End User:

  • Cloud Providers
  • Colocation Providers
  • Enterprise Data Centers
  • Hyperscale Data Centers

By Industry:

  • BFSI
  • Healthcare
  • Manufacturing
  • IT & Telecom
  • Media & Entertainment
  • Retail
  • Government
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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More Valuable Insights on Data Center Power Management Market

Future Market Insight’s report on the data center substation industry research is segmented into seven major sections – component (Hardware- power distribution units(PDU),power generators, uninterruptible power supply (UPS), Software- DCIM software and services ), data center type (modular, colocation, cloud, edge, hyperscale, micro mobile data center), data center tier (tier- 1,2,3,4), installation type( new installation, retrofit/upgrade), End-user (cloud providers, colocation providers, enterprise data centers, hyperscale data centers), Industry ( BFSI, healthcare, manufacturing, IT & Telecom, Media and entertainment, retail, government)  and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the data center substation demand outlook.

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About FMI             

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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Data Center Substation Market expected at a CAGR of ~6.2% & US$ 18.2 Bn during the forecast period 2022–2032

In order to reach US$ 18.2 Bn in 2032, the market for data centre substations is anticipated to grow at a strong 6.2 percent CAGR. Due to the increasing requirement for energy to maintain the existing infrastructure, the market for data centre substations is anticipated to experience growth. Data centres are an essential part of the IT infrastructure. As a result of new data-intensive technologies and high-speed wireless networks, data centres are becoming more and more popular with organisations of all sizes, including big, electricity-intensive businesses and restricted enterprise computer centres.

Data Center Substation Market Value in 2022 US$ 9.9 Bn
Data Center Substation Market Value in 2032 US$ 18.2 Bn
Data Center Substation Market Value-based CAGR (2022-2032) 6.2%
Data Center Substation Market Top 5 Vendor Market Share Around 55%

The increased emphasis on replacing outdated electrical substation infrastructure with modern, superior, modular, digital, and gas-insulated systems is also anticipated to fuel market expansion.

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The market for data centre substations is expected to increase as a result of the rising amount of both structured and unstructured data as well as the rising demand for cloud computing. The largest portion of the global cloud computing market is anticipated to reside in North America, providing data centres with a lucrative business opportunity. This opens up opportunities for energy distribution and transmission systems, like data centre substations.

In industrialised nations, datacenter colocation providers are concentrating on making sizeable expenditures to build more data centre facilities, which is also anticipated to increase sales globally.

However, increasing adoption of data centers and virtualization of enterprises is posing as a threat to the critical data gathered by an enterprise. This is increasing the awareness about the security of this data among enterprises of all sizes.

Thus, owing to the high growth opportunities associated with the market, major vendors are partnering with various channel partners established across the globe. This is enabling solution providers to invest and expand their business in the global data center substation market.

Key Takeaways

  • By component, the switchgears segment is expected to account for 23% of the total market share in 2022.
  • By voltage, the above 500kV segment is anticipated to expand at a 7.4% CAGR over the forecast period.
  • Sales in the Finland data center substation market are expected to account for nearly 13% of the Europe market share through 2031.
  • The market in Japan is expected to grow at a CAGR of around 8.3% through 2032.
  • In India, sales are expected to increase at a CAGR of 10.2% over the forecast period.

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Competition Landscape

Leading players operating in the global data center substation market are investing in research and development to comply with growing demand for digital data solutions. Besides this, players are investing in mergers, acquisitions, and collaborations to expand thwir global footprint. For instance:

  • In October 2022, Schneider Electric launched EcoStruxure micro data center C-Series 43U with intelligent cooling technology. It is the latest addition, adding more capacity, more savings, and more built-in features to address the unique challenges of commercial environments.

Data Center Substation Market Outlook by Category

By Component:

  • MV/LV Transformers
  • Switchgears
  • Relays
  • Power Distribution Units (PDU)
  • UPS systems
  • Busbars
  • Surge Arrestors
  • Others

By Voltage:

  • 33kV – 110kV
  • 110kV – 220kV
  • 220kV – 500kV
  • Above 500kV

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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More Valuable Insights on Data Center Substation Market

Future Market Insight’s report on the data center substation industry research is segmented into three major sections – component (MV/LV transformers, switchgears, relays, power distribution units (PDU), UPS systems, busbars, surge arrestors, and others), voltage (33kV – 110kV, 110kV – 220kV, 220kV – 500kV, and above 500kV), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the data center substation demand outlook.

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About FMI             

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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Elder Care Subscription Market will reach valuation of US$ 1,195.4 Mn by 2020 and is expected to grow at CAGR ~16% Through 2031

The elder care subscription industry will produce US$1.2 billion globally in 2020, predicts Future Industry Insights. (FMI). From 2021 to 2031, the market is projected to grow at a CAGR of 16 percent, reaching over US$ 6.05 billion. The growth of the elder care subscription industry will accelerate as digital advancements continue to make headway.

Base year (2020) Market Value US$ 1,195.4 Mn
Projected year (2031) Market Value US$ 6,048 Mn
CAGR% (2021-2031) 16%

The global elder care subscription market is estimated to expand at a CAGR of 16% during the forecast period (2021-2031). One reason for the increase is the ageing population in various countries. The most recent Future Market Insights (FMI) report predicts that the market sales would surpass US$ 1.3 Bn in 2021. Europe is predicted to hold the largest share of the global market by 2031, accounting for more than 33.1% of the market, due to the increased demand for elder care subscription services.

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Key Takeaways from Elder Care Subscription Market Study

  • Yearly subscription type will dominate the market through 2031, accounting for 59.7% value share.
  • The homecare segment will account for 42.1% of the sales in market in 2021, based on end user.
  • China will continue leading the East Asia market, registering a CAGR of over 17.7% through 2031.
  • The U.S. market is projected to expand at a CAGR of 17.6% through 2031, owing to the rise in demand for elder care services for patients aged 65 and others and rising cases of from dementia and other illnesses among aged population.
  • The UK will hold the lead in Europe, with a market share of 27.8% through 2031.
  • pplications of Intelligent Transportation System (ITS) technologies is highly
  • encouraged in emerging smart cities to handle the current challenges of the continuous
  • growth in the number of vehicles that ply the highways in urban center
  • pplications of Intelligent Transportation System (ITS) technologies is highly
  • encouraged in emerging smart cities to handle the current challenges of the continuous
  • growth in the number of vehicles that ply the highways in urban center
  • Applications of Intelligent Transportation System (ITS) technologies is highly

Impact of COVID-19 on Elder Care Subscription Market

The COVID-19 pandemic has disrupted many industries. Different industry verticals have suffered notable losses as a result of mobility and travel restrictions for public health reasons, among other social distancing measures.

Disruptions in services negatively impacted economies and trade, given the role of services in offering inputs connecting supply chains and facilitating trade. The extent of impact on trade varies by mode of supply and sector.

The pace of technology disruption has continued to accelerate. The global COVID-19 pandemic however has proven to be a catalyst in making digital transformation a strategic imperative for healthcare service providers. There has been rise in demand for homecare elder care subscription services during the pandemic owing to the rise in illnesses and shortage of hospital staff. As a result, these events have turned in favor of elder care subscription market, thereby driving the market growth.

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Who is Winning?

The moderately consolidated elder care subscription market is characterized by players who are increasingly focusing on the development of new product offerings in addition to strategic endeavors towards geographical expansion. Moreover, growing demand for advanced elder care subscription services and increasing penetration of digitalization is anticipated to drive the growth of the elder care subscription market.

Prominent players in the elder care subscription market include but are not limited to Amazon.com, Inc., ApnaCare, IgnoxLabs Pvt Ltd. (Emoha Elder Care), Samvedna Senior Care, Eldercare Services, Portea Medical, Iora Health, Home Instead, Inc., and Living Assistance Services, Inc., among others.

Elder Care Subscription Outlook by Category

By Subscription Type:

  • Monthly
  • Yearly

By End User:

  • Hospitals
  • Elderly Nursing Homes
  • Homecare

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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About FMI             

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.

Contact:                        

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Insights-As-A-Service Market expected to reach US$ 20.5 Bn & ~23.4% CAGR through 2022-2031

According to data recently released by Future Market Insights (FMI), the demand for insights-as-a-service would increase between 2021 and 2031 at a CAGR of 23.4%. The report predicts that the market will be valued at more than US$ 2.5 billion by the end of 2021. According to the FMI survey, rapid technological advancements and increased cloud computing use across many businesses have created the potential for the application of insights-as-a-service solutions.

Base year (2020) Market Value US$ 2.0 Bn
Projected year (2021) Market Value US$ 2.5 Bn
Projected year (2031) Market Value US$ 20.5 Bn
CAGR% (2021-2031) 23.4%

Data on securities, finances, the performance of keywords, staff information, and corporate procedures are among the insights-as-a-service offerings. Businesses can make sensible judgments thanks to access to this data. It also helps in the early detection of potential hazards in the future.

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Key Takeaways: Insights-as-a-service Market

  • By solution, the insights-as-a-service platform (SaaS-based) segment is anticipated to account for the leading share in the global market during the forecast period. The segment estimated to grow at a robust CAGR of 24.3% through 2031.
  • The demand for insights-as-a-service solutions in small and medium enterprises (SMEs) is expected to rise at maximum pace as these organizations continue adopting cloud based solutions for better ROI.
  • Demand for customer analytics platform is estimated to grow at an impressive CAGR, as SMEs exhibit high demand for improved customer lifecycle management.
  • North America is expected to lead the market followed by Europe in 2021. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2021 & 2031.
  • The market in India is expected to progress at a CAGR of 30.6% through 2031.
  • In the GCC Countries, sales are expected to increase at a CAGR of close to 19.0% over the next ten years.

Who is Winning?

Competition in the market is expected to intensify with the entry of new players. The emergence of new startups such as Atlan, testAIng, Bewgle, Zume, Ritual, Coda, Bird, and others will drive the insights-as-a-service market in the near future.

As per insights from KDNuggets, the investments towards other cloud-based and Insights-as-a-Service offerings is expected to increase to 35% from 15% by 2021 owing to stringent government rules and regulation to promote startups in the developed as well as developing countries.

This is expected to encourage key players to focus on the expansion of their global footprint. Some of the leading companies operating in the market are Capgemini, GoodData, GAVS Technologies, Oracle Corporation, and IBM Corporation among others.

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Insights-as-a-service Industry Survey by Category

Solution:

  • Insights-as-a-Service Platform (SaaS-based)
  • Services
    • Consulting & Advisory
    • Implementation & Integration
    • Support & Maintenance

Application:

  • Branding & Marketing Management
  • Supply Chain Analytics
  • Competition Benchmarking
  • Governance, Risk & Compliance
  • Customer Analytics
  • Others

Enterprise Size:

  • Small & Medium Enterprises (SMEs)
  • Large Enterprises

Industry:

  • BFSI
  • Retail & CPG
  • IT & Telecom
  • Media & Entertainment
  • Education
  • Healthcare and Life Sciences

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About FMI             

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.

Contact:                        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
Report: 
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Service Orchestration Market expected to reach US$ 42.1 Bn & ~26.3% CAGR through 2022-2031

The demand for service orchestration is anticipated to grow at an impressive 26.3 percent CAGR between 2021 and 2031, according to recently published statistics on the market analysis of service orchestration by Future Market Insights (FMI).

Base year (2020) Market Value US$ 3.2 Bn
Projected year (2021) Market Value US$ 4 Bn
Projected year (2031) Market Value US$ 42.1 Bn
CAGR% (2021-2031) 26.3% CAGR

Sales of service orchestration solutions will continue to be driven by the rapid development of cloud computing technologies and the growing acceptance of business automation services in enterprises. Given this, FMI expects the market to be worth more than US$ 4.1 billion in 2021.

Architectures and interfaces for service orchestration have been developing more quickly in recent years. Providing dynamic and adaptable resource control and monitoring techniques is a primary goal of service orchestration.

Organizations continually seek to improve cost efficiency as they scale, and service orchestration enables them to achieve their goals by delivering those improvements with predictability and reliability.

Service orchestration reduces cost of network ownership and delivers on-demand services to a broad range of businesses. Moreover, multi-domain service orchestration ensures software development and integration support to streamline service activation and enhance agility. Owing to these factors, sales of service orchestration in large and small/medium enterprises (SMEs) are projected to rise over the forecast period.

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The introduction of the cloud computing technologies has provided organizations with a reliable, effective solution to deliver essential capabilities and services to their customers, at scale. Cloud has become an intrinsic part of modern business. Cloud computing gives organizations the ability to improve their operational efficiency, cut costs, and increase data and processing flexibility.

With huge amount of data generated through multiple cloud environments, maintaining the coherent cloud processes has become a difficult task. To meet these challenges, organizations are continuously integrating advanced service orchestration platforms, which will continue augmenting growth of the market in the forthcoming years.

Key Takeaways:

  • By solution, the service orchestration platform segment is anticipated to expand at a 23.2% CAGR through 2031.
  • The large enterprise segment is projected to hold 57.5% of the total service orchestration market share.
  • Demand for cloud-based services is expected to grow at a stupendous 25.8% CAGR through 2031.
  • Applications of service orchestration in the IT and telecom sector are expected to remain high, enabling sales at a 29.9% CAGR over the forecast period.
  • The U.S. is anticipated to dominate the North America service orchestration market, accounting for 88.9% of the market share through 2031.
  • Sales of service orchestration solutions in the U.K. are projected to increase at a 30.2% CAGR.
  • China will emerge as an attractive service orchestration market, accounting for 58.8% of the East Asia market share in 2031.
  • Demand for service orchestration in Japan and South Korea is forecast to grow at 21.8 CAGR and 25.9% CAGR respectively.

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Service Orchestration Market by CategoryBy Solution:

  • Service Orchestration Platform
    • Cloud-based
    • On-Premises
  • Services
    • Professional Services
      • Consulting & Advisory
      • Integration & Deployment
      • Support & Maintenance
    • Managed Services

By Enterprise Size:

  • Small and Mid-Sized Enterprises (SMEs)
  • Large Enterprises

By Industry:

  • BFSI
  • Retail & CPG
  • Healthcare
  • Government
  • Travel & Hospitality
  • IT & Telecom
  • Manufacturing
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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About FMI             

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.

Contact:                        

Future Market Insights Inc.
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T: +1-845-579-5705
Report: 
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Banking-as-a-Service (BaaS) Platform Market is estimated to grow at a CAGR of 15.7% during 2022-2031

The demand recorded in the market will grow at a high CAGR of 15.7 percent from 2021 to 2031, predicts Future Market Insights (FMI) in its analysis of the banking-as-a-service (BaaS) platform sector.

Base year (2020) Market Value US$ 2.5 Bn
Projected year (2031) Market Value US$ 12.2 Bn
CAGR% (2021-2031) 15.70%

By the end of 2021, the market is expected to be valued at more than US$ 2.8 billion, according to the analysis. According to FMI, the availability of application programming interfaces (APIs) and the rapid evolution of technology have opened up opportunities for platforms that offer banking as a service (BaaS). These technologies are now crucial for enhancing economic competitiveness, which fuels market expansion.

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Over the past few years, BaaS has emerged as a new and innovative way for banks and third parties to collaborate in order to provide customers with digital-only banking products and services and enhanced customer experiences. BaaS has caused a shift in the way that banks and third parties work together and has huge advantages for both the incumbent players and those starting out in the financial services industry.

Increased competition has led to increased innovation in the banking space which in turn has led to improved digital experiences for customers. Customers have greater choice than ever before when it comes to what financial products and services they use.

Banking-as-a-Service (BaaS) Platform Market

Key Takeaways: Banking-as-a-Service (BaaS) Platform Market

  • By solution, the banking as a service platform segment is anticipated to account for the leading share in the global demand for banking-as-a-service (BaaS) platform during the forecast period. However, the banking as a service APIs segment is estimated to grow at a robust CAGR of 17.1% through 2031.
  • By enterprise size, the integration of BaaS platform in small & mid-sized organizations is anticipated to increase at a CAGR of 16.6% between 2021 & 2031, while large organizations are currently dominating the market share.
  • The adoption of banking-as-a-service (BaaS) platform by fintech corporations is expected to rise at maximum pace. As per FMI, demand in this segment will increase by a CAGR of 18.2% between 2021 and 2031.
  • Europe is expected to lead the market followed by North America in 2021. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2021 & 2031.
  • The market in Japan is expected to progress at a CAGR of 17.9% through 2031.
  • In the U.K., sales are expected to increase at a CAGR of close to 16% over the next ten years.

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COVID-19 Impact Analysis on Banking-as-a-Service (BaaS) Platform Market

The outbreak of COVID-19 has led to more usage of banking components because remote working and social distancing have helped digital banking gain a huge customer base. COVID-19 has been a defining moment for digital transformation, as financial institutions that invested strategically & financially in the digitalization process over the past decade, have been better prepared to navigate these shifts and respond to the crisis.

The market has witnessed a significant growth previously, but due to the unexpected COVID-19 outbreak, the market will witness additional growth in 2020, owing to the rising demand for seamless banking transactions. This growth will be majorly driven by changing customer behavior, increasing focus of the people from visiting bank branches to online access of bank services.

Hence, implementation of banking-as-a-service (BaaS) platform would be highly valuable during the COVID-19 period due to several factors such as rising use of electronic transactions amid pandemic crises, and to enable stress-free banking activities.

According to a 2020 World Bank survey, the fintech market has continued to help expand access to financial services during the COVID-19 pandemic—particularly in emerging markets—with strong growth in all types of digital financial services except lending. On an average, Fintech firms reported around 11% growth in volume of digital payment transactions, in H1,2020 as compared to H1,2019. Fintech innovations are helping reduce the cost of providing services, making it possible to reach more people, and reducing the need for face-to-face interactions, essential for keeping up economic activity during the pandemic.

Thus, the demand for banking-as-a-service (BaaS) platform is estimated to grow around 11.6% to 13.8% Y-o-Y from 2019 to 2021.

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Banking-as-a-Service (BaaS) Platform Outlook by CategoryBy Solution:

  • Banking as a Service Platform
  • Banking as a Service APIs
  • Services
    • Payment Processing Services
    • Digital Banking Services
    • KYC Services
    • Customer Support Services
    • Others

By Enterprise Size:

  • Small & Mid-sized Organizations
  • Large Organizations

By End User:

  • Banks
  • FinTech Corporations
  • Investment Firms
  • Others

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About FMI             

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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Steroid-Free Nasal Sprays Market is anticipated to reach US$ 14.9 Billion by 2032

[225 Pages Report] Steroid-free nasal sprays are medications that are directly delivered to nasal cavities with the avoidance of first-pass metabolism and also provide better bioavailability. It includes nasal antihistamine sprays, nasal decongestant sprays, nasal anticholinergic sprays, and nasal cromolyn sodium sprays.

As per Future Market Insights’ latest industry analysis, the global steroid-free nasal sprays market was valued at over US$ 7.75 Bn in 2021 and is expected to exhibit a CAGR of 6.3% over the forecast period, pushing the market size to US$ 14.9 Bn by 2032.

Data Points Market Insights
Steroid-free Nasal Sprays Market Base Yea Value (2021) US$ 7.7 Bn
Estimated Market Size (2022) US$ 8.1 Bn
Projected Market Valuation (2032) US$ 14.9 Bn
Value-based CAGR (2022-2032) 6.3%
Share of Top 5 Countries 57.9%

There is a subsequent rise in the prevalence of allergic rhinitis worldwide due to several risk factors including urbanization and environmental pollutants. According to a recent study conducted in 2022, allergic rhinitis affects about 25% to 40% of the population worldwide. It also states that approximately 80% of allergic rhinitis symptoms develop before the age of 20.

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Recently, there has been an increasing emphasis on mental illnesses due to the significant rise in cases of major depressive disorders. Among these, depression is a common mental disorder. According to WHO, approximately 280 million people of all ages suffer from depression.

Due to rising adverse effects of depression, manufacturers in the steroid-free nasal sprays market are focusing on introducing products that can be used for the treatment of these disorders in the most effective manner.

Moreover, an increased number of regulatory approvals have been observed in the steroid-free nasal sprays market which is propelling the launch of innovative products. Therefore, manufacturers in the market are focusing on getting regulatory approvals to improve sales in the market.

“Rising availability of generic nasal sprays, along with increasing promotional activities by manufacturers at online channels will boost sales of steroid-free nasal sprays over the assessment period,” says an FMI analyst.

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Key Takeaways:

  • Based on product type, sales of nasal antihistamine sprays will increase at a 5.9% CAGR through 2032.
  • The aqueous by formulation segment dominated the steroid-free nasal sprays market with around 4% share in 2021.
  • In terms of distribution channels, demand in the institutional segment will grow at a 6% CAGR through 2032.
  • North America accounted for the highest share of 6% of the global steroid-free nasal sprays market share in 2021.

Competition Landscape

Prominent players operating in the global steroid-free nasal sprays market are focusing on the development, launch, and approval of innovative products to improve their product portfolios. For instance:

  • In February 2022, Glenmark Pharmaceuticals Limited along with SaNOtize Research & Development Corp. announced the launch of FabiSpray, the nitric oxide nasal spray for the treatment of COVID-19 in India.
  • In March 2021, Cipla Limited announced that it has received final approval from the FDA for its abbreviated new drug application (ANDA) for Sumatriptan Nasal Spray, 20 mg which is an AB-rated generic therapeutic equivalent version of GlaxoSmithKline’s Imitrex nasal spray.

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the steroid-free nasal sprays market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032. The global steroid-free nasal sprays market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The steroid-free nasal sprays market is segmented into three parts based on the product (nasal antihistamine sprays, nasal decongestant sprays, nasal anticholinergic sprays, nasal cromolyn sodium sprays, and others), formulation (aqueous, suspension, nonaqueous-based solution, hydroalcoholic, emulsions, and dry powder/micro particles) and distribution channel- (institutional sales {hospitals, specialty clinics, community clinics, public health agencies, and others}, retail sales {retail pharmacy, drug stores, mail order pharmacy}), across seven key regions of the world.

Key Players :

  • Janssen Pharmaceutical, Inc.
  • Astra Zeneca Plc.
  • Cipla Ltd.
  • Glenmark Pharmaceuticals
  • Glaxosmithkline Plc.
  • Novartis International AG
  • Procter & Gamble
  • Sanofi S.A. (Sanofi-aventis LLC.)
  • Boehringer Ingelheim GmbH
  • AdvaCare Pharma
  • Bayer AG (Bayer Consumer Health
  • Covis Pharma S.a.r.l.
  • Nipro Corporation (NIPRO JMI Pharma Ltd.)
  • Viatris Inc. (Meda Pharmaceuticals Inc.)
  • Perrigo Company plc
  • AptarGroup, Inc.
  • Berry Global, Inc.
  • URSATEC GmbH
  • Gerresheimer AG
  • Avantor, VWR International, LLC
  • Spectrum Laboratory Products, Inc.  (Spectrum Pharmacy Products)
  • SKS Bottle & Packaging, Inc.
  • Coster Tecnologie Speciali S.p.A

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Steroid-Free Nasal Sprays Market by Category

By Product:

  • Nasal Antihistamine Sprays
  • Nasal Decongestant Sprays
  • Nasal Anticholinergic Sprays
  • Nasal Cromolyn Sodium Sprays
  • Others

By Formulation:

  • Aqueous
  • Suspension
  • Nonaqueous-Based Solution
  • Hydroalcoholic
  • Emulsions
  • Dry Powder/Micro Particles

By Distribution Channel:

  • Institutional Sales
    • Hospitals
    • Specialty Clinics
    • Community Clinics
    • Public Health Agencies
    • Others
  • Retail Sales
    • Retail Pharmacy
    • Drug Stores
    • Mail Order Pharmacy

About FMI:

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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Phakic Intraocular Lenses (IOL) Market is projected to reach US$ 819.5 Million by the end of 2032

[280 Pages Report] As per Future Market Insights’ latest analysis, the global phakic intraocular lenses (IOL) market reached US$ 344.4 Mn in 2021. Sales are projected to grow at a 9.5% CAGR over the forecast period, with the market valuation reaching US$ 819.5 Mn in 2032.

Patients with high ametropia or contraindications to laser refractive surgery are treated with phakic intraocular lenses (pIOLs). The key aspect that makes these lenses ideal for use in young adults seeking ocular prescription independence is the preservation of accommodation, as lens extraction is not required.

Furthermore, as the number of people who are myopic has increased in recent years, this refractive correction option has become increasingly significant. Simultaneously, it is an important area of research in light of future estimates of the prevalence of simple myopia and, more importantly, severe myopia.

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Because of the aesthetic and optical constraints of the conventional ophthalmic lens, as well as growing trend of contact lens overuse, phakic IOLs are a viable option for individuals with severe myopia.

Although phakic intraocular lenses have some benefits over laser refractive surgery, such as reversibility, enhanced optical quality in high ametropias, and a wider range of correction, etc., it is important to remember that it is a surgical procedure with all of the risks that are associated with intraocular surgeries, including severe complications including endophthalmitis.

Growing concerns with increasing ocular disease indication burden, high prevalence of diabetes and associated retinopathy, as well as the development of alternatives to removable spectacles and lenses for corrective vision are chief factors expected to drive the market.

“Advances in excimer laser procedures have presented a gateway into the development of implantable intraocular lenses with effective vision correction outcomes. Such developments are anticipated to auger well for the market over the forecast period,” says an FMI analyst.  

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Key Takeaways:

  • Based on product type, the posterior chamber phakic IOL segment accounted for 0% of the total market share in 2021 and the trend is expected to continue through 2032.
  • By indication, sales in the astigmatism segment will increase at a 8.5% CAGR over the assessment period.
  • In terms of end user, the hospitals segment will remain most lucrative over the forecast period.
  • The U.S. is expected to lead the North America phakic intraocular lenses market over the assessment period.
  • Demand in China is expected to grow at a 10.5% CAGR through 2032.
  • Germany will emerge as a lucrative pocket, with sales rising at a 9.3% CAGR over the forecast period.

Competition Landscape

Key players are investing in research and development to offer patient-specific and indication-specific pIOLs to enhance procedural outcomes. They are also focusing on new product launch activities, licensing of product sales within a specific region, as well as regulations associated with new device development and manufacturing. For instance:

  • In January 2019, owing to the high regulatory standards, precision and quality requirements in Germany and Japan, Star Surgical announced expanded recommended diopter range for their EVO Visian ICL in both the countries.
  • In December 2019, Johnson & Johnson Vision announced the Food and Drug Administration (FDA) approval and U.S. launch of TECNIS Toric II 1-Piece Intraocular Lens (IOL).

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What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the phakic intraocular lenses (IOL) market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.

The research study is based on the product – (posterior chamber phakic IOL, and anterior chamber phakic IOL), by indication (myopia, hyperopia, and astigmatism), by end user (hospitals, ophthalmology clinics, and ambulatory surgical centres), across seven key regions of the world.

About Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business.

About FMI:

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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INR Test Meter Market is estimated to enjoy a valuation of US$ 1.3 Bn by the end of 2022

[300+ Pages Report] The market for INR test metres is anticipated to reach US$ 1.3 billion by the end of 2022, growing at a CAGR of 6.3 percent, and surpassing US$ 2.4 billion by 2032. With a market share of approximately 79.7% in 2021, the devices segment dominated the global INR test metre market in terms of product type.

As per Future Market Insights, the global INR test meter market was around US$ 1.2 Bn in 2021, and is projected to exhibit a CAGR growth of close to 6.3% over the forecast period, exceeding valuation of US$ 2.4 Bn in 2032.

Patients with coagulopathic aberrations related to pathological conditions have a strong reliance on PT diagnostic platforms. Patients who take warfarin frequently have medical conditions that put them at high risk for severe illness, including hospitalization, intensive care admissions, and death, as per the Centers for Disease Control and Prevention.

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With the emerging importance of utilizing point-of-care tests, the market for INT test meters is set to witness high demand during the forecast period (2022-2032). One of the primary factors driving the growth of the INR test mater market is rising prevalence of cardiovascular diseases and blood disorders across the globe.

Demand for INR test meters is expected to grow due to increased awareness of these disorders, which will improve diagnostic rates and preventive care management. Further, with favorable government funds and investments for acquiring and installing such medical devices in public healthcare facilities, the demand in the market is projected to surge through 2022 & beyond.

Key Takeaways from Market Study

  • In terms of product, devices held approximately 7% of market value share in 2021, owing to their efficacy in delivering positive therapeutic outcomes.
  • Based on end users, hospitals segment is expected to register a CAGR of 8% during the forecast period.
  • North America is considered as the leading region with a value share of 6% in 2021, owing to high lifestyle associated disease cases, and rapid device approvals.
  • The U.K. is expected to lead the growth in Europe INR test meter market backed by its development in healthcare infrastructure

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“Growing advancements of digital solutions for medical use is set to propel the sales of the INR test meter market across the globe,” says an analyst of Future Market Insights.

Market Competition

Key manufacturers in the INR test meter market are adopting strategic approaches such as mergers and research activities for revenue growth and product portfolio expansion. Producers are also engaged in several patent expiry mitigation approaches to further provide upgraded product lines, thus establishing a strong geographical outlook.

  • In November 2021, CoaguSense Inc. incorporated a novel “Prothrombin Time Home Testing System” connected with MedM remote care platform.
  • In May 2021, Biosynex acquired Avalun to become a European leader in rapid diagnostic testing.

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What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the INR test meter market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032.

The research study is based on the product – (device, lancet, and test strips), by end user (hospitals, speciality clinics, ambulatory surgical centres, and home care settings), across seven key regions of the world.

About Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business.

About FMI:

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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Systemic Lupus Erythematous SLE Drugs Market to reach a valuation of US$ 329.18 Billion by 2032

[250 Pages Report] Global systemic lupus erythematous drugs market growth is fast in North American region and is estimated to project remarkable CAGR growth throughout forecast period. In North America, the SLE is more prevalent among Hispanics, Asians, and Native Americans according to Centers for Disease Control and Prevention (CDC). The second largest and fastest growing global systemic lupus erythematous drugs market is Europe and is projected to reach nearly US$ 550 Mn and register a double digit CAGR due to higher prevalence of SLE in Europe.

Systemic Lupus Erythematous (SLE) is a chronic autoimmune disease which causes the immune system to mistakenly attack health body tissue. In SLE, body immune system can affect any part of the body, such as joints, organs, eyes, skin, etc. Often SLE can result in symptoms such as malar rash, discoid lesions, sub-acute cutaneous lesions, photosensitivity, oral ulcers, arthritis, serositis, nephropathy, neurologic involvement, thrombocytopenia, haemolytic anemia, fever, Raynaud’s phenomenon, livedo reticularis, thrombosis, and myositis.

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It is also known as a disease of flare-ups and remissions and can range from mild to life threatening severity. It is also called as drug-induced lupus erythematosus due to common observation against drugs such as isoniazid, hydralazine and procainamide. Currently, there is no complete treatment for SLE. While only two biologic agents have been approved by FDA to treat SLE, synthetic drugs are still the mainstay of therapy in SLE. Based on available evidence, azathioprine and mycophenolate mofetil are the drugs of first choice. Hydroxychloroquine should be considered an anchor drug in SLE because of the multiple beneficial effects of this agent.

Systemic Lupus Erythematous (SLE) Drugs Market: Drivers & Restraints

Global Systemic Lupus Erythematous (SLE) Drugs market is projected to grow due to high prevalence of autoimmune diseases particularly systemic lupus erythematous (SLE). Major drivers for global systemic erythematous drugs market are development of novel SLE therapies, increasing availability of bio similar drugs and increasing support for emerging research areas for new drug molecules. At the same time, increasing awareness of disease diagnosis and treatment as well as consistent research and development processes for novel drug molecules are important drivers for global lupus erythematous market.

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Additionally, safety and quality of systemic lupus erythematous controlling therapy may possibly be a challenge for the growth of the global systemic lupus erythematous drugs market. Moreover, numerous public awareness programs targeted to increase awareness levels are also being accompanied. For instance, Lupus Foundation of America (LFA) has been implementing various projects to increase central support for SLE research and services to support people and families affected by SLE. However, serious side effectswith steroids, sensitivity with antibiotics, limited usage of Benlysta for severe SLE patients, and stringent regulatory approvals for new treatment options with better levels of efficacy and safety are obstructing the global systemic lupus erythematous drugs market.

Systemic Lupus Erythematous (SLE) Drugs Market: Segmentation

The global systemic lupus erythematous drugs market is classified on the basis of molecule and region.

Based on type of molecule, the global systemic lupus erythematous drugs market is segmented into the following:

Corticosteroids

Prednisone

Cortisone

Hydrocortisone

Non-Steroidal Anti-inflammatory Drugs (NSAIDs)

Over-the-counter NSAIDs include

Ibuprofen (Motrin)

Naproxen (Naprosyn)

Prescription versions include

Indomethacin (Indocin)

Nabumetone (RELAFEN)

Celecoxib (Celebrex)

Anti-Inflammatories

Aspirin

Acetaminophen (Tylenol)

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Disease-Modifying Anti-Rheumatic Drugs (DMARDs)

Hydroxychloroquine (Plaquenil).

Cyclosporine (Gengraf, Neoral, Sandimmune)

Azathioprine (Azasan, Imuran)

Antimalarials

Chloroquine (Aralen)

Hydroxychloroquine (Plaquenil)

BLyS-specific Inhibitors or Monoclonal Antibodies (MAbS)

Belimumab (Benlysta)

Immunosuppressive Agents/Immune Modulators

Azathioprine (Imuran)

Methotrexate (Rheumatrex)

Cyclophosphamide (Cytoxan)

Anticoagulants

Low-dose aspirin

Heparin (Calciparine, Liquaemin)

Warfarin (Coumadin)

About FMI:

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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