Market Research Blog – Page 1238 – New Product Development

Breast Pump Market Projected to Reach USD 2,672.30 Million by 2033, Growing at 3.9% CAGR

The global breast pump market is anticipated to reach a valuation of USD 1,827.00 million in 2023, with expectations to grow to USD 2,672.30 million by 2033. This represents a compound annual growth rate (CAGR) of 3.90% over the forecast period.

The growth of the breast pump market is driven by an increasing awareness of the benefits of breastfeeding, alongside the rising number of working mothers seeking flexible and efficient breastfeeding solutions. Technological advancements in breast pump design and functionality, along with the growing availability of electric and hands-free models, are also contributing to market expansion.

This anticipated growth reflects increasing awareness and adoption of breast pumps, supported by advancements in technology and a growing focus on maternal and infant health. The expansion of the market is attributed to several key factors, including rising demand for breastfeeding support, advancements in pump technology, and a greater emphasis on convenience and efficiency for new mothers.

Since the last few years, the percentage of working women in workplaces across the globe has been declining (46.2% in 2019 as compared to 50.9% in 1990 as per “Catalyst”).

Emerging economies are witnessing impressive growth in healthcare spending. This can be attributed to improvements in healthcare technology and changing lifestyle, which is fuelling the demand for breast pumps among urban women. According to WHO, the global healthcare spending rose by 2.4% in 2014 over 2013. Healthcare spending is growing at a rate of 5% in developing regions. Rise in healthcare expenditure is expected to boost overall adoption of breast pumps among women, especially in Asia Pacific.

Breast pump adoption is as high as 85% among breast feeding women at 3 months post-birth. Furthermore, marketplace discussions indicate that the availability of breast pump accessory products will also encourage the adoption of electric breast pumps in developed markets. In this regard, infant product manufacturers are increasingly bundling other pump-related products, such as nursing bras and breast pumping bras, to sell complete package of breast pumps, which is anytime more profitable than isolated sales. Electrical breast pump packages find more adoption than manual breast pump products due to better volume of output. These innovative solutions are projected to fuel breast pump market revenues in the global electric breast pumps market during the forecast period.

Key Players:

Koninklijke Philips N.V.,
Pigeon Corporation,
Newell Brands,
Medela Inc.,
Ameda Inc.,
Hygeia II Medical Group Inc.,
Bailey Medical,
Mayborn Group Ltd. and Linco Baby Merchandise Works Co., Ltd.

The Electric breast pump market is more technologically advanced with higher product pricing and low penetration. This category of breast pump comprises few global breast pump manufacturing companies. Potential new entrants in breast pump market are trying to capture and improve their market position by using innovative marketing strategies, such as inorganic growth. Breast pump manufacturers are expanding their product portfolio using latest technologies.

Availability of BPA free breast pump products is fuelling breast pump adoption in developed as well as more the affluent markets in developing regions. In the recent past, breast pump manufacturers have begun offering bisphenol A or BPA-free breast pump products to increase sales. BPA is a chemical used to make milk container or feeding bottle rigid and more resistant and has been associated with adverse health effects, such as neural and fertility issues. Examples of some BPA free breast pump products are Philips Avent Manual Comfort Breast Pump from Koninklijke Philips N.V. and BPA-free breast pumps by Medela, Inc.

Rapid rise in promotional/supporting campaigns for Breast Pump products is fuelling revenue growth of the breast pump market. In November 2012, leading breast pump manufacturer Medela launched a campaign titled ‘Virtual Human Milk Collection Campaign’ to commemorate Prematurity Awareness Month, where the breast pump manufacturer encouraged and demonstrated the importance of breast milk for infants and babies. Medela has also donated US$ 30,000 worth of breastfeeding related products to various neonatal intensive care units across the U.S.

Some of the leading breast pump manufacturing companies analyzed in the report include Koninklijke Philips N.V., Pigeon Corporation, Newell Brands, Medela Inc., Ameda Inc., Hygeia II Medical Group Inc., Bailey Medical, Mayborn Group Ltd. and Linco Baby Merchandise Works Co., Ltd.

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Key Segments Covered

by Product Type

Open System Breast Pumps
Closed System Breast Pumps

by Technology Type

electric
manual breast pumps

by End User

homecare settings
healthcare facilities

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.

Contact Us:

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Outpatient Clinics Market Set to Reach USD 61,372.4 Million by 2033, Growing at 4.2% CAGR

The outpatient clinics market is poised for significant growth, with an estimated valuation of USD 40,761.7 million in 2023. The sector is anticipated to expand steadily, reaching an estimated USD 61,372.4 million by 2033, reflecting a compound annual growth rate (CAGR) of 4.2% during the forecast period.

Key Insights:

Current Market Value: The outpatient clinics market is projected to be worth USD 40,761.7 million in 2023.
Growth Projection: The market is expected to grow at a CAGR of 4.2%, potentially reaching USD 61,372.4 million by 2033.
Market Dynamics: The anticipated growth is driven by increasing patient preference for outpatient care, advancements in medical technology, and a rising focus on cost-effective healthcare solutions.

This robust growth highlights the growing importance of outpatient clinics in the healthcare system, emphasizing their role in providing accessible, efficient, and patient-centric care.

Factors Fuelling Outpatient Clinics Market Growth

Growth of the Global Outpatient Clinics Industry is mainly bound to various macro-economic and micro-economic factors.
The prevalence of chronic diseases such as asthma, diabetes, depression, and congestive heart failure leads to complex and severe health problems.
With the escalating cost of the treatment process in various healthcare organizations, patients prefer visiting outpatient clinics to access treatment.
Growing concerns regarding the increasing prevalence of cardiovascular diseases such as elevated blood pressure levels, hypertension, coronary heart diseases, and cerebrovascular diseases have further led to a surge in demand for outpatient clinics globally.
Demand for quick and effective treatment of cardiovascular diseases will continue contributing to the global market growth of outpatient disorders.
According to a recently published report by the CDC, nearly 610,000 people die of heart attack in the U.S. each year, which is 1 in every 4 deaths.
As cardiovascular diseases continue to remain a leading cause of mortality globally, demand for effective and quick treatment processes will continue to remain high.
These factors are projected to impact the global market growth of outpatient clinics throughout the forecast period.
Collaborations among private insurance companies and outpatient clinics will continue to remain a major trend in the global market.
Through collaborations, private insurance companies offer payment and services in outpatient clinics.
Imposition of regulations such as the Health Care and Educational Reconciliation Act and Patient Care Affordable Act provides U.S. citizens with public health insurance coverage and offers access to private health insurance services.
Moreover, increasing employee benefits such as Employees’ health insurance by employers is projected to contribute towards the global market growth of outpatient clinics over the forecast period.

However, the Global Outpatient Clinics Industry of outpatient clinics will continue to witness inhibiting growth attributed to various factors.

The imposition of strict regulations and a limited number of doctors for the treatment of various diseases will remain a key factor inhibiting demand for services offered by outpatient clinics.

As the patients are not monitored for a long period, the risk of addiction to alcohol and drugs is projected to remain high.

Moreover, the lack of access to counselors in comparison to the residential and inpatient facilities is further projected to impede the global market growth of outpatient clinics.

Sales to Remain High Through Cardiology Specialty Areas

The prevalence of chronic and cardiovascular disorders is projected to fuel demand for multi-specialty centers globally.

In terms of revenue, the multi-specialty center type segment is projected to witness significant growth, representing more than US$ 8,400 Mn by 2022-end.

Moreover, the multi-specialty center type segment is projected to reflect the fastest growth in the global market of outpatient clinics throughout the forecast period.

Based on specialty type, the dermatology segment is projected to reflect a significant CAGR through 2022.

However, the cardiology specialty areas segment is projected to represent a robust revenue growth, recording more than US$ 3,000 Mn over the forecast period.

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 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.

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Global Dermal Fillers Market Expected to Reach USD 8,819.6 Million by 2034, Growing at 3.3% CAGR

The global dermal fillers market is poised for steady growth, with estimated sales projected to reach USD 6,411.8 million in 2024. The market is anticipated to expand significantly over the next decade, achieving a valuation of USD 8,819.6 million by 2034, reflecting a compound annual growth rate (CAGR) of 3.3% during the forecast period.

Growing emphasis on the safety and biocompatibility of dermal fillers, with manufacturers investing in research to develop products with minimal side effects and allergic reactions. The untapped potential of the aesthetics market of men represents an opportunity for the dermal filler industry to develop targeted products and marketing strategies catering to the specific needs and preferences of male consumers.

Collaborations between cosmetic clinics, dermatologists, and manufacturers can create synergies in promoting dermal fillers, enhancing product visibility, and fostering trust among consumers. Ongoing innovations in injection techniques and application methods contribute to the growth by providing practitioners with enhanced precision and patients with more comfortable and efficient procedures.

Varied cultural perceptions of beauty and aesthetics influence the demand for dermal fillers, with market preferences shaped by cultural norms, leading to diverse product offerings and marketing strategies. Stringent regulations and approvals from health authorities contribute to market growth by instilling confidence in the safety and efficacy of dermal filler products, ensuring compliance with quality standards.

Integration of AI technologies in aesthetic procedures, assisting practitioners in treatment planning and predicting outcomes, represents a trend that enhances precision and individualized patient experiences. The trend towards bio-integrated fillers, designed to seamlessly integrate with the tissues of the body, contributes to natural-looking results and minimizes the risk of adverse reactions, fostering increased patient satisfaction.

Key Takeaways from the Dermal Filler Market Study

From 2019 to 2023, the market demand expanded at a CAGR of 2.5%.
The market in Italy is expected to expand at a CAGR of 1.7% through 2034.
By ingredient, the hyaluronic acid segment to account for a market share of 58.8% in 2024.
From 2024 to 2034, the dermal filler market is expected to flourish at a CAGR of 3.2%.
By 2034, the market value of dermal filler is expected to reach US$ 8,764.6 million.

“Opportunities lie in the development of advanced training programs for healthcare practitioners, ensuring proficiency in the latest techniques and technologies, and addressing the growing demand for skilled professionals in the field,” remarks an FMI analyst.

Competitive Landscape from the Dermal Filler Market

Prominent players in the dermal filler market are Top of Form Galderma Pharma S.A, Sinclair Pharma plc, Zimmer Biomet Holdings, Allergan Plc., Anika Therapeutics Inc., Merz Pharma GmbH & Co. KGaA, Suneva Medical Inc., Teoxane Laboratories Inc., Prollenium Medical Technologies Inc., Laboratoires Vivacy SAS, and Fidia Pharma USA Inc., among others.

Recent Development in the Dermal Filler Market

In 2022, Galderma introduced Radiesse (+) Lidocaine injectable implants designed for deep injection, such as subdermal and/or supraperiosteal, to enhance soft tissue volume. The innovation is aimed at addressing moderate to severe loss of jawline contour in adults aged 21 and above.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global dermal filler market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the dermal filler market, the market is segmented based on ingredient (hyaluronic acid, poly-l-lactic acid, calcium hydroxylapatite, polymethyl methacrylate, collagen), gender (male, female, transgender), application (wrinkle reduction, skin folds/ nasolabial folds, augmentation of lips, cheek &chin, scar treatment, hand rejuvenation, jawline, and chin lines countering, eyebrows treatment, hollowness under eyes, nose jobs, volume restoration, restoring damaged tissues, restoration of facial fat loss, dentistry), and distribution channel (cosmetic and aesthetics clinics, hospitals, online sales, plastic surgery centers, medical spa), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

Key Companies Profiled in the Dermal Filler Market

Galderma Pharma S.A
Sinclair Pharma plc
Zimmer Biomet Holdings
Allergan plc.
Anika Therapeutics Inc.
Merz Pharma GmbH & Co. KGaA
Suneva Medical Inc.
Teoxane Laboratories Inc.
Prollenium Medical Technologies Inc.
Laboratoires Vivacy SAS
Fidia Pharma USA Inc.

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Key Segments in the Dermal Filler Market Report

Ingredient:

Hyaluronic Acid
Poly-L-Lactic Acid
Calcium Hydroxylapatite
Polymethyl methacrylate
Collagen

Gender:

Male
Female
Transgender

Application:

Wrinkle Reduction
Skin Folds/Nasolabial Folds
Augmentation of Lips, Cheek &Chin
Scar Treatment
Hand Rejuvenation
Jawline and Chin Lines Countering
Eyebrows Treatment
Hollowness Under Eyes
Nose Jobs
Volume Restoration
Restoring Damaged Tissues
Restoration of Facial Fat Loss
Dentistry

Distribution Channel:

Cosmetic and Aesthetics Clinics
Hospitals
Online Sales
Plastic Surgery Centers
Medical Spa

Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
The Middle East and Africa

About the Healthcare Division at Future Market Insights

The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Author

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 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.

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Explosive Growth in Hyper-Converged Systems Market: From $12.33 Billion in 2023 to $129.38 Billion by 2033

The demand for blockchain technology market is expected to increase at an astounding CAGR of 43.5% from 2022 to 2030, with the worldwide market expected to be valued at US$ 59.5 billion by that time. The target market is expected to reach an estimated US$ 3.31 billion by the end of 2022. The market for blockchain technology is growing as more and more people use blockchain-based solutions for smart contracts, digital identities, and payments. Throughout the projection period, the BFSI and retail industries’ increased focus will help the blockchain technology market develop even more.

Factors such as elevated venture capital funding and investment in blockchain technology, extensive implementation of blockchain solutions in banking and cybersecurity, large scale adoption of blockchain solutions for payment, smart contracts, and digital identities, and increasing government initiatives contribute to the exceptional growth rate of the blockchain market.

During this decade, Blockchain demand opportunities are likely to proliferate due to the limited physical transactions in the past two years and increasing virtual transactions. The heightened demand from sectors like BFSI and the retail sector will further supplement the demand for blockchain. In addition, the deep penetration of smartphones and affordable internet prices will bolster the global sales of the blockchain technology market over the next few years.

Again, the need for safe and secure transactions will propel the target market growth. The distinctive feature of ‘append only’ has made blockchain immutable and tamper-proof. This makes the technology a safe and secure way to record transactions. The retail sector, particularly brands dealing in the trade of luxury goods, will likely adopt this technology to transform into an effective business model. Thus, the target market is expected to prosper over the upcoming years

“High demand for safe and secure transactions will supplement the global growth of the blockchain technology market over the forecast period,” says an FMI analyst.

Key Takeaways:

Regulatory uncertainty may impede the global blockchain technology market growth.
The blockchain technology market in Asia Pacific will present significant growth by the end of 2030.
Massive government investments in blockchain network development projects drive the target market growth in China.
By industry, the BFSI segment is expected to account for major share portion due to the adoption of digital ledgers
On the basis of use case, the supply chain management will register heightened demand.

Competitive Landscape

IBM, Amazon Web Services, SAP, Microsoft, Bitfury Group Limited, Cegeka, Guardtime, CONSENSYS, PixelPlex, LimeChain, Accubits Technologies, SoluLab and Oracle, among others are some of the major players in the blockchain technology market profiled in the full version of the report.

Leading market players are capitalizing on the opportunities available in the current market scenario. These organizations are adopting tactics like product innovation, strategic partnerships, and collaborations to strengthen their market position.

Key Segments of Blockchain Technology Industry Survey

By Solution:

Applications
Middleware
Blockchain Platforms

By Use Case:

Supply Chain Management
Digital Identity
Payments and Money
Trading, Commerce and Exchange
Smart Contracts
Decentralized Finance
Others (Voting, Property Records, etc.)

By Enterprise Size:

Large Enterprises
SMEs

By Industry:

BFSI
Healthcare
Retail and e-commerce
Hospitality and Travel
Government
Media and Entertainment
Transportation and Logistics
Others (Food and Beverages, Real Estate, etc.)

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Video Streaming Software Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2024-2034

It is expected that the market for video streaming software would grow at a remarkable CAGR of 10.2%, from US$ 5.9 billion in 2022 to US$ 12.87 billion by the end of 2030. The need for original video material is now growing rapidly in the broadcasting sector.

As a result, a number of companies and broadcasters are working to improve their video streaming services and software by producing original content to bolster their brands. Given that live video streaming is still in its infancy, the quantity and calibre of premium live content available on various platforms is expanding.

Viewers who were earlier watching live events and sports on TV have started to shift towards these platforms, mainly due to the availability of live video content as per their linking and convenience. This demand-side trend is working in favor of the growth of the video streaming software market, which is projected for nearly threefold growth over the next decade.

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Key Takeaways of Video Streaming Software Market Study

For residential end-users, 4K or UHD video streaming software is becoming mainstream, and this trend is likely to grow with an increase in the availability of mobile devices that support these formats.
Although some regions such as Latin America have limited broadband penetration and high levels of piracy, they show great potential in becoming over-the-top (OTP) video streaming software market leaders in the coming years, owing to the changing habits of end users.
Although growth in the total number of video streaming subscriptions is slowing down in North America, consumption time or video streaming time per user continues to increase, as the content that is available to stream is constantly improving.

COVID-19 Pandemic Impact Analysis

Increasing cases of COVID-19 infections have forced governments across the world to legislate nationwide lockdowns. Citizens are required to stay indoors until the concerned authorities lift the lockdown orders. The first quarter (Q1) witnessed accelerated adoption of gaming and media platforms on a global level, as the need for digital entertainment rose among users.

Netflix and Amazon Prime, among other video streaming software and service providers, are registering increased influx of subscriptions, as the number of COVID-19 infections surge and strict lockdowns are legislated across the world. These lockdowns are propelling the adoption of video streaming software solutions, worldwide.

More Valuable Insights on Video Streaming Software Market

Future Market Insights offers an unbiased analysis of the global video streaming software market, providing historical data of 2015-2021 and forecast statistics for 2022-2030.

Key Segment

Solution

Software
Services

Type

Live Video Streaming Software
Video-on-Demand (VoD)
- (Subscription) SVOD
- (Transactional) TVOD
- (Advertising) AVOD
- Others

Vertical

Media and Entertainment
Education
Healthcare
Banking and Financial Solutions
Travel and Tourism
Others

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Blood Warmer Devices Market Projected to Reach USD 937.5 Million by 2032, Growing at 7.6% CAGR

The global blood warmer devices market is expected to see significant growth, with a projected valuation of USD 451.2 million in 2022. The market is anticipated to expand at a compound annual growth rate (CAGR) of 7.6% from 2022 to 2032, ultimately reaching approximately USD 937.5 million by the end of the forecast period.

Intravenous warming systems are leading the market, holding a substantial share of about 47.1% in 2021. These systems are critical in medical settings, ensuring safe and effective warming of blood and other fluids, particularly in emergency situations and during surgical procedures.

Key drivers of this growth include advancements in medical technology and increasing demand for effective blood warming solutions in clinical settings. Intravenous warming systems, a leading product category, held a dominant market share of approximately 47.1% in 2021, underscoring their critical role in patient care.

Hypothermia has become very common and causes major complications, this is driving the demand for blood warmer devices. Since these devices can help in preventing complications during the blood transfusion process the demand is expected to grow in the future. Companies are also investing in the research and development of portable and smart blood-warming devices. Manufacturers are also working on new business strategies to launch a new product. Partnerships and collaborative activities are also on the rise. The demand for disposable blood and fluid warmer devices is also increasing, due to the rise in some complications.

Key Market Players Competing to Sustain in the Market

The report offers a detailed profile of some of the key market players in the Global Blood Warmer Devices Industry such as 3M Company, Smiths Medical, The 37 Company, GE Healthcare, Emit Corporation, Stryker Corporation, Geratherm Medical, Barkey GmbH & Co. KG, Stihler Electronic GmbH, Biegler GmbH, Belmont Instrument, Keewell Medical Technology Co. Ltd., and Baxter International Inc. (Gambro). These key players are continuously working on new business strategies to offer better products and compete in the global market.

Forecast Highlights on the Blood Warmer Devices Market

The Global Blood Warmer Devices Industry is segmented based on end-user, product type, application, and region. Based on the product type, the segment includes intravenous warming systems, surface warming systems,s, and blood warming accessories. Among these, surface warming system is expected to be the widely accepted product in the global blood-warmer devices market. By the end of 2026, the surface warming system is estimated to surpass US$ 100 million in revenue.

Based on end users, the segmentation consists of hospitals, blood banks, home care settings, and others. Hospitals are expected to be the largest users of blood warmer devices. By the end of 2017, hospitals are estimated to account for nearly two-thirds of the revenue share.

Based on the application, the market is segmented into home care, preoperative care, acute care, newborn care, and other applications. Blood warming devices are expected to find the largest application in preoperative care. By the end of 2026, the preoperative care segment is estimated to reach nearly US$ 100 million in revenue.

Geographically, the market is segmented into Europe, North America, Japan, Asia Pacific Excluding Japan (APEJ), the Middle East and Africa (MEA), and Latin America. Among these, North America is expected to dominate the Global Blood Warmer Devices Industry during the forecast period 2017-2026. The increasing occurrence of hypothermia among the aging population and infants in the U.S. is one of the factors driving the growth in North America. Growth in trauma cases and surgeries is also contributing to the growth of the market in the region.

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\Blood Warmer Devices Market Taxonomy

Region

North America
Latin America
Europe
Japan
APEJ
MEA

Product Type

Intravenous Warming System
Surface Warming System
Blood Warming Accessories

End User

Hospitals
Blood Banks
Home Care Settings
Other End Users

Application

Preoperative Care
Home Care
Acute Care
New Born Care
Other Applications

Author

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.

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Combi Boiler Market Projected to Reach USD 29.8 Billion by 2033, Growing at 4.4% CAGR

According to Future Market Insights, the combi boiler market is projected to grow at a CAGR of 4.4% from 2023 to 2033. In 2023, the market was valued at approximately USD 19,347.1 million and is expected to reach USD 29,759.2 million by 2033. A combination or “combi” boiler is a compact appliance that integrates a high-efficiency water heater with a heating boiler system, requiring less plumbing and reducing initial costs and the risk of leaks.

In the UK, around 72% of homeowners prefer combi boilers over traditional models due to their efficiency and compact size. Connected to the mains water supply, combi boilers provide on-demand hot water. The market is anticipated to grow further due to increasing urbanization. The population in developing regions is rapidly rising, with the urban population expected to increase from 3.85 billion today to 6.31 billion by 2050, driving global demand for combi boilers.

These boilers are suitable for installation in spaces like lofts or kitchen closets, and some designs may include a tank to enhance hot water flow rates. Innovations in design will further boost demand during the forecast period. Additionally, with a growing preference for reliable and efficient heating solutions, condensing technology is expected to dominate the market in 2022, driven by high operating efficiency, reduced environmental impact, lower energy costs, and improved energy recovery.

Key Takeaways from the Market Study

In 2022, the global combi boiler market is estimated to have a global market size of US$ 24.2 Bn.
By fuel, the natural gas segment is expected to inhibit a 5.2% CAGR during the forecast period.
By technology, the condensing segment is projected to acquire a global market valuation of 82% in 2022.
The European market for combi boilers will grow with a 5.6% CAGR during 2022-2032.
The APAC combi boiler market is expected to grow with a 4.95% CAGR during the forecast period.
The North American region is projected to acquire 31% of the global market share in 2022.

Competitive Landscape

The most important strategy being taken by the market’s leading players is the expansion of their product portfolio. At the moment, certain players are attempting to improve product quality by utilizing modern technologies such as IoT and AI. In addition, firms are using partnerships, mergers and acquisitions, and collaboration as significant methods to enter a new market.

Vaillant, a British combi boiler manufacturer, manufactures combination boilers with power ratings ranging from 24 to 38 kW. In their household line, they also make heating boilers ranging from 18 kW to 38 kW, as well as hot water storage units, solar systems, and heat pumps. Vaillant also offers a commercial line of wall-hung boilers with capacities ranging from 46 to 120 kW, as well as floor standing boilers.
Viessmann provides innovative heating systems for all fuel types and output levels of 1.5 to 20,000 kW. Because everything is supplied from a single source, their product line is divided into three categories (100, 200, and 300) and offers a suitable solution for every heating requirement or budget.

Key Segments Covered in the Combi Boiler Market Report

Combi Boiler Market by Fuel:

Natural Gas powered Combi Boiler
Oil Powered Combi Boiler
Combi Boilers powered by Other Fuels

Combi Boiler Market by Technology:

Condensing Combi Boilers
Non-Condensing Combi Boilers

Combi Boiler Market by Region:

North America Combi Boiler Market
Latin America Combi Boiler Market
Europe Combi Boiler Market
Asia Pacific Combi Boiler Market
Middle East & Africa Combi Boiler Market

Report Preview: https://www.futuremarketinsights.com/reports/combi-boiler-market

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North America Electrical Testing Services Market Expected to Reach USD 4.5 Million by 2033, Growing at 6% CAGR

The North America electrical testing services market is projected to reach an estimated value of USD 4.5 million by 2033, growing from USD 2.5 million in 2023, at a CAGR of 6% during the forecast period.

The market is being driven by several factors, including the rising incidence of power outages, which heightens the need for preventive maintenance. The automotive and aerospace industries are also increasing their demand for electrical testing services. Furthermore, growing consumer interest in sustainable energy sources, such as solar and wind power, along with the expansion of the Internet of Things (IoT) and smart grid technologies, and strict government regulations requiring safety inspections and certifications, are contributing to market growth.

Demand for electrical testing services is anticipated to rise due to the electrification of railway lines, increased steel production, and the necessity for systematic testing of electrical equipment to avoid breakdowns. These services are essential for preventing issues like short circuits, lubricant leaks, equipment corrosion, and wiring faults. Consequently, the global electrical testing services market is expanding, with various end-users, including manufacturing industries and power generation facilities, increasingly relying on these services.

The electrical testing services market is expected to see a boost in sales, driven by the presence of heavy metal industries and the electric component manufacturing sector. Government investments in public transportation, especially railways, are also propelling market growth in the region. Additionally, the ongoing demand for regular electrical testing and maintenance from power plants further supports the market’s expansion.

Key Takeaways from North America Electrical Testing Services Market Study

The U.S. is estimated to account for 57.1% of the sales in 2021 owing to the increasing development of power generation infrastructure in the country.
Canada is anticipated to emerge as a highly attractive market, projecting sales at a CAGR of 6.1% between 2021 and 2031.
Mexico electrical testing services market is forecast to account for 19.1% of the share, expanding at 6.4% CAGR over the assessment period.
In terms of service type, the thermographic segment is projected to account for a significant share, growing at 6.5% CAGR through 2031.
Transformer testing is projected to remain highly sought-after service in the market, accounting for 20.9% of the total sales in 2021.

Competitive Landscape

As per FMI, leading players offering testing services in North America are estimated to account for approximately 55% to 65% of the market share in 2021.

Key players in North America electrical testing service market are aiming at expanding their service range for as per the end-use applications. Some of the players are focusing on strategic collaborations, merger, agreement, acquisitions, and partnerships with other players to expand their testing network and service. For instance,

In August 2021, RESA Power, a U.S.-based end-to-end electrical solutions provider announced acquiring an electrical testing company EPIC Energy Solutions, LLC. The acquisition will assist the company to expand its testing capabilities across the Midwest region.

Some of the key players operating in the market profiled by FMI are:

Schneider Electric
Siemens AG
Eaton Corporation plc
General Electric Company
ABB Inc.
Power Products & Solutions
American Electrical Testing
Haugland Group LLC
Dekra
TCS Electrical Co.
Phase One Electric
Intran
GEM Electrical Services
Electric Power Systems
Others

Key Segments Profiled in the North America Electrical Testing Services Industry Survey

By End Use:

Power Generation Stations
Transmission and Distribution Stations
Steel Plants
Major Refineries
Railways
Other Industrial (Laboratory, etc)
Data Centers
Healthcare and Hospitality
Commercial Establishments

By Service Type:

Transformer Testing
Circuit Breaker Testing
Protection Testing
Battery Testing
Rotating Equipment Vibration Testing
Motors/Generator Testing
Thermographic Testing

By Country:

The U.S.
Canada
Mexico

Report Preview: https://www.futuremarketinsights.com/reports/north-america-electrical-testing-services-market

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Global Residential Boiler Market Projected to Reach USD 53.1 Billion by 2033, Growing at 5.5% CAGR

The global residential boiler market is projected to be valued at USD 31.1 billion in 2023. The rising demand for tower crane rentals across various end-use industries is contributing to this market growth. By 2033, the market is expected to reach USD 53.1 billion, with a CAGR of 5.5% from 2023 to 2033.

The demand for residential boilers is driven by increased construction activities in developing regions. There is a growing need for energy-efficient heating solutions, fueled by a strong emphasis on sustainability and energy efficiency, which is expected to boost the demand for boilers with higher efficiency ratings.

Government regulations and incentives aimed at reducing greenhouse gas emissions and promoting energy efficiency are also encouraging the adoption of more efficient residential boilers. These incentives, including tax credits and subsidies for homeowners installing energy-efficient systems, further stimulate market growth.

Technological advancements and the integration of smart technology in residential heating systems are gaining momentum. Smart boilers provide features such as remote control, programmable settings, and energy monitoring, enabling homeowners to optimize their heating usage, enhance comfort, and save energy.

In North America, steady growth in the residential boiler market is anticipated due to factors such as cold climates, a high number of residential buildings, and the replacement of older boiler systems. Meanwhile, the Asia Pacific region is experiencing significant growth in the residential boiler market, driven by rapid urbanization, population growth, and increasing disposable incomes in emerging economies.

Key Takeaways from the Market Study:

From 2018 to 2022, the residential boiler market demand expanded at a CAGR of 4.5%
Based on capacity, the below 24 kW segment accounts for a CAGR of 5.3%

By application, the apartment segment is expected to expand at a CAGR of 5.4% during the forecast period
North America to emerge as a promising residential boiler industry, capturing a CAGR of 5.4%
The residential boiler industry in the United Kingdom is predicted to reach US$ 3.3 Billion by 2033
Asia Pacific is an opportunistic residential boiler market, expected to capture a CAGR of 5.2% during the forecast period.
South Korea’s residential boiler industry is predicted to achieve a market revenue of US$ 2.7 Billion by 2033

Competitive Landscape:

The global residential boiler market is fragmented with the presence of several large and medium-scale players. The leading players in the residential boiler industry are investing in strategic agreements in order to capture market share.

Prominent players in the residential boiler industry are:

Ariston Group
BDR Thermea Group
Groupe Atlantic
Viessmann
Vaillant Group
Robert Bosch
Ideal Heating
Unical Ag Spa
Daikin Industries
A.O. Smith Corp
Bradford White Corporation
Ferroli S.p.A.
Burnham Holdings
Lennox International
Fondital
Hoval
Noritz Corporation
Slant/Fin Corporation
ECR International
Immergas Group

Residential Boiler Industry Segmentation Analysis:

By Capacity:

Below 24 kW
24kW to 35 kW
Above 35 kW

By Technology:

Condensing
Non-Condensing

By Fuel Type:

Gas
Oil
Electric
Others

By Application:

Apartments
Villas
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East & Africa

Report Preview: https://www.futuremarketinsights.com/reports/residential-boiler-market

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Steady Growth Ahead: Women’s Intimate Care Product Market to Reach USD 44.4 Billion by 2034

The women’s intimate care product market is poised for steady growth, with newly released data estimating its value at ~USD 30,213.8 million in 2024. Over the next decade, the market is expected to grow at a CAGR of 3.9%, reaching ~USD 44,355.0 million by 2034. This consistent rise reflects increasing awareness and demand for high-quality, specialized products in the broader feminine hygiene products market, where intimate care accounts for approximately 39% of total sales.

Key Drivers of Market Growth

Growing Awareness of Women’s Health
With increased education and conversations around women’s health, more consumers are recognizing the importance of intimate care. The push for products that promote hygiene, comfort, and wellness has been a significant driver for the market, helping it gain momentum globally.
Product Innovation and Expansion
Companies are continuously innovating to cater to the specific needs of women, with a growing focus on natural, chemical-free products that are gentle on sensitive areas. Additionally, product ranges have expanded from traditional items like washes and wipes to include intimate moisturizers, deodorants, and specialized treatments, offering more comprehensive care solutions.
Rising Disposable Income
As disposable income levels rise, especially in emerging markets, more women are willing to invest in premium intimate care products. This trend is contributing to market growth, as consumers prioritize quality and efficacy over cost.
Changing Social Norms
The stigma around discussing intimate care is slowly dissipating, leading to greater consumer acceptance. With this shift, brands are capitalizing on the opportunity to address these previously underserved needs through targeted marketing and product development.
E-commerce Expansion
The rapid growth of e-commerce platforms has made intimate care products more accessible, allowing consumers to purchase items discreetly. Online channels provide detailed product information, reviews, and convenient delivery, further driving the adoption of intimate care products.

Market Share in the Feminine Hygiene Products Sector

The women’s intimate care product market holds a substantial share—~39%—of the overall feminine hygiene products market. This strong market share highlights the increasing importance of intimate care in women’s daily routines, with demand for these products expanding beyond the essentials to include a wide range of specialized offerings.

Regional Insights

North America and Europe are leading markets, driven by high awareness levels, advanced healthcare systems, and well-established retail infrastructures. However, regions like Asia-Pacific are expected to witness faster growth due to rising urbanization, increasing disposable incomes, and growing awareness of intimate health.

Challenges Facing the Market

Despite the positive outlook, the women’s intimate care product market faces challenges, including cultural taboos in certain regions, pricing concerns, and the need for more scientific backing on product efficacy. Brands will need to address these issues to fully tap into the market’s potential.

The Future of Women’s Intimate Care Products

Looking ahead, the market is expected to continue evolving with a focus on sustainability and organic products. Companies are likely to invest in eco-friendly packaging and formulations, catering to environmentally conscious consumers. As societal attitudes continue to shift, demand for intimate care products will only increase, providing ample opportunities for innovation and growth.

Global Women’s Intimate Care Product Market by Category

By Product Type:

Intimate Washes
Liners
Oils
Masks
Moisturizers & Cream
Hair Removal
- Razors
- Wax
- Depilatories
Wipes
Gels
Foams
Exfoliants
Mousses
Mists
Sprays
E products
Others

By Age Group:

12-19 Years
20-25 Years
26-40 Years
41-50 Years
51 Years and Above

By User:

Women With Child
Women Without Child

By Sales Channel:

Online
Offline
- Hypermarkets/Supermarkets
- Drug Stores/Pharmacies
- Beauty Salons
- Others

By Region:

North America
Latin America
Europe
Asia Pacific
MEA

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