Baking Molds & Trays Market is estimated to reach US$ 773 Million And Sales of baking molds & trays are likely to grow by ~6.3% CAGR between 2021 and 2031.

[190 Pages Report] The baking molds & trays market, also called baking containers market, is estimated to reach US$ 773 Mn in 2021. Sales of baking molds & trays are likely to grow by ~6.3% CAGR between 2021 and 2031.

Baking Molds & Trays Market Size (2021A) US$ 773 Mn
Baking Molds & Trays Market Projected Value (2031F) US$ 1.42 Bn
Value CAGR (2021-2031) 6.3%

Future Market Insights (FMI) has projected the baking molds & trays market to record 6.3% CAGR between 2021 and 2031. Due to increase in demand for sustainable packaging solutions globally, the wooden-based baking molds & trays are expected to outgrow the sales of plastic (CPET-based) baking molds & trays packaging solutions.

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A majority of food packaging companies in the region are already exhibiting high demand for biodegradable packaging solutions for their food products in order to meet their sustainability targets. However, in the U.K., most of the prominent companies have shifted their focus from CPET material to wooden paperboard material due to significant increase in its demand in the last few years.

Companies such as Panibois was launched in such thinking to introduce complete wooden based baking molds & trays solutions in the market. With its extensive line of products, Panibois is one of the forth leading manufacturers in wooden based baking molds & trays solutions, and simultaneously meeting the sustainability criteria for Sustainable Development Goals 2030.

FMI forecasts that the sales of baking molds & trays will increase considerably in the coming years. Factors such as consumer inclination towards green solutions, easy disposable baking trays and molds, user experience and convenience factor coupled with advance recycling processes will exponentially increase the baking molds & trays sales globally.

Key Takeaways from Baking Molds & Trays Market

  • By cavity type, multiple cavity segment is ahead and leading the global baking molds & trays market. With its cost effectiveness, target segment is estimated to hold lion’s share of 80% during the forecast period.
  • On basis of material, silicone is mostly preferred in the market due to its durability, safety and hygienic properties. The same segment is anticipated to increase 2.02 times of current value, during next 10 years.
  • As per FMI experts, although industrial segment is expected to hold major chunk of the global market, commercial end use segment is expected to witness a gain of 150 bps of current value share by 2031, due to increasing health conscious youth preferring baked food over others.
  • East Asia and South Asia combined are anticipated to generate large financials for baking molds & trays market due to lower tax slabs and cheap labor and easy foreign investment laws. Collectively these two regions are estimated to create cumulative incremental opportunity of US$ 370 Mn by the end of 2031. On the other hand, mature markets of North America and Europe are expected to hold prominent market share of almost 37% by the year 2031.

 “The global consumption of bakery & confectionary products is rising exponentially, especially usage of ready to eat food products has opened attractive opportunities for baking molds & trays manufacturers to maximize their sales. Growing emphasis on safe and sustainable packaging is anticipated to redefine the baking molds & trays market growth,” says FMI analyst.

High Perforation of Baking Molds & Trays in Food & Food Services Industry to Augment the Sales

Demand for global baking molds & trays market is on a rise because of the steady increase in the disposable incomes of middle-class families. They are manufactured of high quality such as silicone, plastic, metal and possess properties such as durability, uniformity, and are sustainable. These lightweight and recyclable molds & trays are predominantly used in food and food service sector baking and confectionary purposes. These are available in a variety of shapes in the market such as circular, oval, rectangular, etc.

Urbanization has increased the standard of living of middle class households, with increase in working class parents, families are more dependent on purchasing bakery and confectionary items from commercial outlets. This has been a major cause for exponential rise in the baking molds and trays market over the span of last few years.

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Impact of COVID-19 on Baking Molds & Trays Market

Global crisis of COVID-19 pandemic had a low to moderate impact on the sales of baking molds & trays in the global market. Initially lack of availability of raw materials stopped the manufacturing process in factories across globe. Lockdown in prominent regions induced considerable impact on the manufacturing of baking molds & trays. Moreover, disruption of supply chains caused due to strict guidelines & overall lockdown lead to a complete shutdown of manufacturing plants for months. In general, the sales for baking molds & trays nearly halted during the lockdown causing a downgrade for the sales of target market. But during the last few months of the year 2020, supply chains were restored and trade routes re-opened due to which target market gained traction.

Baking Molds & Trays Market Landscape

Nordic Ware, Guardini S.p.A., SILIKOMART S.r.l. are the top players operating in the baking molds & trays market. Furthermore, Hans Brunner GmbH, Pavoni Italia S.p.A., Dongguan AASIN Technology Co. Ltd., Bold Maker are also the noticeable players in the baking molds & trays market. The Tier 3 players in the market hold 80-87% in the global baking molds & trays market. In conclusion, key players contribute almost 13-20% of the global market.

Baking Molds & Trays Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global baking molds & trays market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the baking molds & trays market on the cavity type (single and multiple), material (plastic, silicone, metal, wooden, and others), and end use (commercial, household, and industrial) across seven regions.

Baking Molds & Trays Market by Category

By Cavity Type:

  • Single
  • Multiple

By Material:

  • Plastic
  • Silicone
  • Metal
  • Wooden
  • Others

By End Use:

  • Commercial
  • Household
  • Industrial

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By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa
  • Oceania

Feminine Hygiene Products Market Size, Share, Growth Trends, and Forecast Analysis to 2031

Government initiatives undertaken to spread awareness about women health and menstrual hygiene, besides brand consolidation strategies by leading producers and the adoption of modern lifestyles by women will push feminine hygiene products sales in the coming years.

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According to the recent Future Market Insights (FMI) report, the global feminine hygiene products market value is estimated to surpass US$ 27.6 Bn in 2021, with a CAGR of 7.0% during the forecast period (2021-2031).

Around 49% of the global population is female and nearly 65% of them are aged between 15 and 65 years, thereby indicating a significant opportunity for manufacturers of feminine hygiene products.

Government organizations are focusing on women’s health and hygiene with the help of launch of various awareness programs and funding activities. These programs include detailed education about menstruation, puberty, and the advantages and health benefits of using hygiene products.

They are also providing sanitation kits to girls studying in government schools and colleges in rural areas, particularly in developing economies around the globe. For instance, in 2017, the Department of Education in KwaZulu-Natal (KZN) of South Africa set aside Rs 50 million to fund the distribution of sanitary towels and napkins to various schools in the region.

Additionally, rising female populations in countries such as India, Ghana, and Nigeria will create lucrative opportunities. Concerns regarding disposal, have resulted in the introduction of reusable menstrual cups. These cups are made from medical grade silicon or latex and cost between US$ 20 and US$ 50 per pack and can last for nearly five years. Such innovations will give tailwinds to growth registered in the market.

The impact of the ongoing COVID-19 pandemic on production of feminine products has been negligible despite short term disruptions of transportation and logistics.

Key Takeaways from Feminine Hygiene Products Market Study
  • Sanitary napkins are the largest and fastest growing segment accounting for nearly half of the market by 2031, with a CAGR of over 8%.
  • Supermarket are projected to account for over 22% of the global market by 2031. This is attributed to robust supply channels for consumer health products.
  • East Asia is the largest revenue-generating region for feminine hygiene products, with the China accounting for nearly 81% of the regional market in 2021.
  • Germany holds the lead in Europe, and is expected to accounting for over 18% of the market in 2031.
  • South Asia is the second most lucrative market after East Asia with India accounting for over 75% of the value share in 2031.

“The acceptance of new feminine products among the female population and government support to start-ups will create growth opportunities for manufacturers through the assessment period. Investments in online sales channels will remain key focus for companies in the coming decade,” says the FMI analyst.

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Who is Winning?

Some of the leading manufacturers of the feminine hygiene products market are focusing on mergers and acquisitions for global expansion. Thus, enhancing their market presence. For example,

  • In Jan 2020, the Procter and Gamble focused on digital marketing with advertising associations in countries around the world – like the World Federation of Advertisers, the Association of National Advertisers in the U.S., and the Incorporated Society of British Advertisers in Europe.
  • In October 2020, Kimberly-Clark completed the acquisition of Softex Indonesia. This acquisition accelerated the company’s growth in key personal care categories across Southeast Asia.

The key market players covered by FMI include Procter and Gamble, Johnson and Johnson, the Kimberly-Clark Corporation, Svenska Cellulosa Aktiebolaget SCA, Sanofi S.A, Lil-lets UK Limited, Ontex, Unicharm Corporation, Diva International Inc., and Edgewell Personal Care.

Rx to OTC Switch Market Future Trends, Industry Size and Forecast to 2031

Rx-to-OTC switches refer to the transition from proven prescription drugs to nonprescription, OTC status. According to a report by Future Market Insights (FMI), the global Rx-to-OTC switches market was valued at US$ 33 Bn in 2020 and is predicted to expand at a CAGR of over 5% during the forecast period (2021–2031).

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Scientifically, it is a rigorous and highly regulated process that allows consumers to purchase OTC access to a growing range of medicines. For a medicine to be granted under OTC status, it must comply with the regulatory standards associated with its efficacy, have a wide safety margin, and bolster labelling to ensure proper usage of the product.

The increasing prevalence of diseases with common self-treatable symptoms, such as cold and flu, headaches, allergies, and others has fuelled the demand for OTC drugs. Thus, growing sales of nonprescription drugs have pushed pharmaceutical companies to focus on Rx to OTC switches to meet customer needs thereby gaining high revenue in the market.

It was observed in 2020, Rx-to-OTC activity was driven by growing regulatory approvals and increased OTC sales. The COVID-19 outbreak has restricted patients to visit hospitals and clinics suffering from common illnesses. Consequently, delays in prescribed medication have shifted the customer preference towards the OTC drug consumption. As a result, the COVID 19 outbreak bolstered the demand for OTC products, which in turn has supported the adoption of Rx-to-OTC switches.

The Food and Drug Administration (FDA) introduced the non-prescription safe use regulatory expansion (NSURE) panel in 2013 that has supported a new wave of Rx-to-OTC switches, with a focus on creating conditions for switches in new therapeutic classes.

The introduction of the panel aimed to promote switches which had gained consumer attention, which in turn has aided the demand for the OTC drugs in the market.

Key Takeaways from Rx-to-OTC Switches Market Study
  • Allergy and respiratory drugs are anticipated to gain a revenue share of more than 25% with a CAGR of 5.7% owing to the rising prevalence of lifestyle-based ailments.
  • Retail pharmacies are anticipated to grow at a CAGR of 5.1% over the forecast period owing to the rise of e-commerce and the procurement of cost-effective medicines.
  • The  U.K. holds the lead in Europe, holding a share of over 33% owing to the implementation of favorable government policies.
  • The U.S. will account for over 77% of the North America market by 2031, supported by a matured healthcare and pharmaceutical sector and favorable reimbursement policies.
  • China is the largest and fastest growing market in East Asia estimated to account for close to 49% of the global market, owing to the country’s large-scale pharmaceutical requirements.

 “Increasing global prevalence of allergies and common illnesses such as flu, coupled with rising awareness for self-medication practices, are driving the growth of the global Rx-to-OTC switches market,” says the FMI analyst.

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Who is Winning?

Rx to OTC switches have led the pharmaceutical companies to shift focus from patients to consumers in terms of end users. In addition to strategic collaborations, acquisitions, expansion, product launches, agreements and research sponsorships are the key strategies adopted by manufacturers to expand their research and development (R&D) capabilities increasing sales in wider geographical base to strengthen product portfolios in the Rx-to-OTC switches market.

For instance, in January 2021, Boehringer Ingelheim entered into a collaborative agreement with Google Quantum AI (Google), focusing on researching and implementing cutting-edge use cases for quantum computing in pharmaceutical research and development (R&D).

Pillow Cases Market: Key Players, Applications, Outlook, SWOT Analysis And Forecasts By 2030

Pillow cases are used to protect pillows from stains and dust mites. Normally, a part of the bed sheet set, pillowcases are designed as decorative and functional covering.

Growing awareness among consumers has changed the buying patterns for pillow cases. This is influencing manufacturers to introduce personalized products based on consumers’ needs.

For instance, manufacturers are formulating soft and breathable pillow cases which offer a peaceful sleep.Growing fabric technology and usage of more organic fabrics, and brighter colors in the production of pillow cases are enhancing market growth.

Pillow cases also go along with the consumer’s changing home decor trends and thus have increased their buying frequency. Such trends are boosting the pillow cases market which is projected to expand at a robust growth in the approaching years.

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Pillow Cases Market – Key Trends

Market players are launching pillow cases with innovative fabrics addressing issues such as improper sleep, harshness against the skin, and badly pilled. For instance, LL Bean’s Pima Cotton Perscale Pillowcases are soft, durable, and comfortable.

Woven from 100% Pima cotton, it can be machine washed with no wrinkling and shrinkage. Additionally, growing product visibility across multi –retail outlets is underpinning the market growth.

Players are focusing on the functional benefits of pillow cases prepared from plant-based materials for instance bamboo, and organic cotton, to provide breathability and better moisture absorption as compared to conventional cotton. For instance, Organic Comfort offers pillowcases manufactured from no synthetic content.

The company offers several benefits such as smooth, soft, silky sateen weave texture, not paper-thin, and are perfect for all seasons.

Silk pillow cases are gaining popularity among consumers due to their hypoallergenic features and it doesn’t draw moisture from the skin. Believed to have slowdown skin aging which is providing another leg for market growth.

Pillow Cases Market – Region-wise Analysis

North America will be accounting for the highest market share owing to established retail networks and growing consumer preference for superior quality and luxurious bedding products to accolade the interiors.

As per the consumer trends in the U.S., about 80% of consumers favor cotton & cotton blend materials, trailed by 3% selecting satin fabric.

Growing consumer awareness concerning good night’s sleep and proper bedding materials is also anticipated to boost sales of pillow cases in the region.

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Pillow Cases Market – Competitive Analysis

Major Companies operating in the worldwide market include LL bean, Fishers Finery, Pinzon, Parachute Percale, and Amazon Basics. Players in the pillow cases market are enhancing their business footprint by introducing innovative products. For instance,

Global Pillow Cases Market: Key Players

  • MyPillow
  • Wendre
  • Pacific Brands
  • Pacific Coast
  • Romatex
  • Tempur Sealy
  • Fuanna
  • Luolai
  • Mendale
  • Dohia
  • Elegant Comfort
  • Shuixing
  • Yueda Home Textile
  • Mellanni Fine Linens

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Pillow Cases Market – Market Segmentation

By Product Type

  • Cotton Type
  • Rayon Type
  • Silk Type
  • Others

By Application

  • Residential
  • Hotel
  • Hospital
  • Nursing Home
  • School
  • Other

Teen Room Décor Market Current Scenario Trends, Comprehensive Analysis and Regional Forecast to 2030

Over the years, the importance of home décor has surged, attributed to the want for making one’s house aesthetically appealing. For nearly a decade, home décor has acquired a central position in consumer expenditure.

Tapping into this trend, market players are scrambling to penetrate lucrative markets and acquire a competitive edge. Among these home décor products, teens’ room décor is acquiring immense traction, attributed to the expansion of the world’s millennial population base.

As per UNICEF, there are 1.2 billion adolescents, comprising 16% of the global population, with a majority of them residing in the developing world. Vendors are therefore increasing their foray in these regions.

Teen room decoration is a challenging task. As they undergo both physical and mental changes, their preferences are largely equivocal. Their preferences regarding room decorations keep metamorphosing on a regular basis.

Therefore, having an assortment of room décor accessories greatly help, which has increased expenditure on teen room accessories.

Due to these aforementioned trends, the global teen room décor market is slated to enjoy an upward trend throughout the upcoming decade’s forecast. With the presence of a large number of retailers, consumers have a wide array of choices, leading to promising revenue ecosystems across several geographical locations.

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Furniture Segment to Generate Major Green Spaces, Textiles and Wallpapers Trailing Behind

The furniture segment will remain the pioneer in terms of teen room décor product types, capturing over half of the global market revenue share. Tables & chairs form the bulk of teen room décor furniture. Teenagers are generally thrust with immense workload in the form of assignments and homework from their schools and colleges.

This requires them to put in immense hard work for which they require proper seating arrangements. Additionally, other accessories such as mirrors, textiles and wallpapers are also gaining credible ground. Teens want to be able to decide what bed or table covering they would like, prompting manufacturers to design customized products.

The demand for customized wardrobes have risen substantially. As teenagers are highly fashion-conscious, they are willing to experiment with different styles of clothing. As a result, their expenditure on apparel has surged. These clothes require a storage space in the form of cupboards and wardrobes.

Global Teen Room Décor Market: Regional Insights

North America is anticipated to remain the dominant teen room décor furniture market. A substantial teenage population base combined with the presence of prominent home décor furniture providers and deep penetration of online sales is heightening growth prospects across the region.

Demand is primarily being driven by the U.S.Asia-Pacific shall emerge as the fastest growing region, attributed to the maximum concentration of teenage population in countries such as India and China.

The influx of western culture is also driving heightened usage of contemporary teen room décor accessories. Moreover, governments are offering favorable reimbursements to manufacturers, thereby increasing their prominence.

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Teen Room Décor Market- Competitive Landscape

The global teen room décor market is characterized by the presence of multiple online and offline market players. These vendors are largely focusing on product innovations and collaborations with other players as well as online retail platforms to deepen their penetration across various regional markets.

The players in this landscape are: IKEA, Target Corporation, Walmart, West Elm, H&M, Urban Outfitters, Lulu & Georgia, ban.do, Tictail, Modcloth, Living Spaces, Birch Lane, Argos, Aelfie and Etsy to name a few. Due to the presence of such a wide array of players, there is intense competition across all regions.

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Teen Room Décor Market- Segmental Analysis

By Product Type

  • Flooring
  • Furniture
  • Beds
  • Tables & Chairs
  • Cabinets
  • Wardrobes
  • Mirrors

By Consumer Orientation

  • Boys
  • Girls

By Price Range

  • Premium
  • Mass

By Distribution Channel

  • Offline Channels
  • Online Channels

Slow Cooker and Sous Vide Market In-Depth Analysis, Growth Strategies and Comprehensive Forecast to 2030

The global slow cooker segment has witnessed an increment sales of the products over the years on the back of transforming preference of consumers in the preparation of freshly cooked meals and an increase in the number of working women’s,.

Rising demand for slow-cooked food is one of the key growth drivers in the market. Due to the long, low-temperature cooking, slow cookers help tenderize less costly meat cuts. A slow cooker brings out the food flavor.

A wide range of foods, including one-pot meals, soups, stews, and casseroles, can be prepared in a slow cooker. Furthermore, benefits such as energy efficiency and time efficiency would also drive demand for slow cookers and sous vide, which will subsequently fuel global market growth.

Sous vide is experiencing steady growth over the past few years owing to their growing adoption among the population. Sous vide is the type of cooking where the food is sealed in a glass jar or plastic pouch and is placed in a steam atmosphere or water bath for longer than usual periods.

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Changing Consumer Lifestyle Fuelling the growth of Global Slow Cooker and Sous Vide Market

The sous vide machine’s purpose is to cook the food correctly, avoid overcooking, and preserve the moisture. Changing lifestyles among customers.

Also, increasing working women’s population has led to an increase in demand for sous vide machines and slow cooker.Employed women are given little time to cook. They are therefore opting for a slow cooker and sous vide machines which will help them cook the food faster than traditional cooking.

The growing female workforce has also led to increased demand for a slow cooker and sous vide machines.Women are likely to cook food which requires less time than the traditional method of cooking.

However, the rising price of a slow cooker and sous vide machines is limiting the global demand for a slow cooker and sous vide market.The portability of slow cookers is among the latest developments that will gain momentum in the slow cooker industry over the forecast period.

The portable crock feature reduces the weight of slow cookers, enabling users to switch the cookers without too much trouble from one position to the other, and increases the quotient of comfort.

Additionally, features such as locking mechanism and rubber seals added, which keeping the lid securely locked onto the crock for spill-free slow cooker transport will also boost slow cooker sales.

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Slow Cooker and Sous Vide Market: Key Players

Key players involved in the slow cooker and sous vide industry are high concentrating on ongoing research and development to develop new products to meet the changing tastes and preferences of consumers. The temperature setting is lower than the cooking temperature usually around 55 degrees centigrade.

Manufacturers are focusing on creating low-cost goods that provide successful revenue boost solutions for emerging regions including Asia Pacific, Latin America and capture a larger portion of market share.

  • ChefSteps
  • Hamilton Beach Brands
  • Gourmia
  • Focus Products Group International
  • Fagor America
  • SharkNinja
  • Oliso
  • Tefal
  • Sous Vide Supreme
  • Anova
  • Morphy Richards
  • PolyScience Culinary

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Slow Cooker and Sous Vide: Market Segmentation

Basis of Product Function

  • Automatic
  • Manual

Basis of Sous Vide Type

  • Ovens
  • Immersion circulators

Basis of Application

  • Commercial
  • Household

Basis of Distribution Channel

  • Hypermarket/Supermarket
  • Retail Stores
  • Specialty Stores
  • Online Stores
  • Other Retail Formats.

Office Seat Cushion Market Growth, COVID Impact, Trends Analysis Report Forecast To 2030

The invention of comfortable seat cushions is a key factor that gained attraction towards office seat cushion market. Cushions are light, smaller in size and easy to transport these factors increases demand in the market. Office seat cushion market is estimated to have a steady growth rate during the forecast period.

Office seat cushion is a priority in all the key corporate offices to provide a comfortable sitting arrangement for the employee which in turn increases their efficiency. It is designed to support thighs, lower and upper back and head.

Due to COVID 19 pandemic manufacturing process had to be on halt impacting the business. Office seat cushion market’s supply chain has been disrupted due to restrictions on trading across borders. Whereas, due to the trend of work from home there has been a rise in demand for office seat cushion by employees.

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Office Seat Cushion Market: Drivers and Restraints

An increasing number of commercial establishments fuels demand office seat cushion market. Increased demand for comfortable office chairs directly impacts cushion market. With the rise in jobs requiring desk work also propels office seat cushion market growth.

Demand for quality infrastructure and comfortable working conditions for employee creates opportunities for office seat cushion market growth. However, increased focus on the aesthetics of chair creates demand for an office seat cushion market.

The number of competitors and entry of new players can hinder office seat cushion market. Volatile nature of pricing for raw materials can challenge the growth of the market.

Office Seat Cushion Market: Overview

Microfiber leather type cushion holds a major share of the revenue for office seat cushion market due to its flexibility, high tensile strength, uniformity, anti-bacterial and anti-odour properties. Artificial leather is the second-largest revenue-generating due to its ease of availability and less price.

Bench seat type office seat cushions have higher demand as compared to bucket seat type based on price and comfortability. Based on modality, fixed office seat cushion market has more demand than portable office seat cushion for better comfort.

Office seat cushion market is dominated by original manufacturers in distribution channel due to the increase in units for procurement and larger stock availability. On the other hand, the retail market distribution channel is for procurement in smaller quantity.

Online sales are expected to experience significant growth in the coming decade with increased adoption of e-commerce platforms.

Based on application, commercial establishments are expected to generate the highest revenue during the forecast period for the office seat cushion market due to the requirements in large quantities.

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Office Seat Cushion Market: Region-wise Outlook

North America will continue to hold a major share of the office seat cushion market due to the presence of the highest number of commercial establishments in the region. With an increased number of market players in the region, Europe generates significant revenue for the office seat cushion market.

Whereas, Asia-Pacific office seat cushion market is estimated to have the fastest growth due to the growing number of industries in the region. With government support and private investments, there has been a proliferation of MSMEs in Asia-Pacific region creating demand for an office seat cushion market.

Office Seat Cushion Market: Key Market Participants

  • Johnson Controls
  • Nile, IKEA
  • Mubo
  • Sunzm
  • Boyuan
  • Lear Corporation
  • Shigeru
  • Denso
  • ComfiLife
  • Grand Rapid Foam Technologies
  • Only Geal
  • JYM
  • Gelsmith

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

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Office Seat Cushion Market: Segmentation

Based on Product type

  • Microfibre leather
  • Artificial leather
  • Chemical fibre
  • Gel-based

Based on Seat Type

  • Bucket seat
  • Bench seat

Based on Modality

  • Portable
  • Fixed

Based on Distribution Channel

  • Original manufacturer
  • Retail market
  • Online Sales

Based on Application

  • Home-based office
  • Commercial establishments

Healthcare Virtual Assistants Market Trends 2022 | Segmentation, Outlook, Industry Report to 2030

Healthcare virtual assistants can provide 24/7 patient monitoring. The AI and rule-based systems that interact with humans to perform various tasks. These assistants use cognitive technologies such as machine learning, natural language processing, and neural networks to enable interactive communications with the end-users.

Virtual assistant technology in the healthcare industry can assist in transforming various health processes and improve healthcare delivery, worldwide. The speech recognition-based virtual assistants system in the healthcare industry is focused on aiding the administrative tasks for physicians by automating the operational processes, such as medical transcription, scheduling, chart search, and medical information search.

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Impact of COVID-19 Pandemic Outbreak

The adoption is increased for the new interactive Chabot and voice assistant specifically to support healthcare organizations during the COVID-19 pandemic. The COVID-19 Virtual Assistant aims at helping educate the public and support medical professionals in screening and triaging people who may have been infected by the virus.

In the past 1-3 years, the market for healthcare IT solutions has grown by almost 20% globally. However, due to the COVID-19 outbreak, adoption of healthcare IT solutions is projected to increase by nearly 8%-10% in the year 2020, due to increasing healthcare concerns and medical assistance.

Furthermore, the market is expected to increase significantly during Q3-Q4 2020, to assist in the healthcare incidents rising post this pandemic situation.

Healthcare Virtual Assistants Market: – Market Dynamics

The advancements in IT systems and healthcare technologies play an important role in fueling the growth of digital healthcare IT solutions. Developments in mobile health technology has emerged as a natural extension of the new generation of healthcare IT systems.

The healthcare virtual assistants support the user database, including physicians, hospital staff, surgeons, and others. All these factors are supporting the rapid adoption of hospital automation solutions, and ultimately, fueling the growth of healthcare virtual assistants in the healthcare industry.

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Demand for 24×7 Connectivity Solution for Patient Monitoring

The rising demand for establishing efficient networks among hospital staff, physicians, and others is driving the demand for healthcare virtual assistants market. Hospitals and clinical labs are more focused towards delivering high-quality patient care, which is a challenging task.

Healthcare virtual assistants help users by providing seamless connectivity to internal and external medical professionals on a real-time basis, with 24×7 connectivity between physicians, nurses, clinical laboratory staff, and other hospital staff. This connectivity helps hospitals improvise patient care coordination, safety, and simultaneously provide satisfying service to their patients.

Healthcare Virtual Assistants Market: – Key Players

Key players in the Healthcare Virtual Assistants market are focusing on product expansion and strategic partnerships with the technology vendors to collaborate for offering quality healthcare products and services for sustained business growth.

The major players offering Healthcare Virtual Assistants solutions include –

  • Nuance Communications, Inc.
  • Amazon
  • Verint Systems Inc.
  • Infermedica
  • Sensely, Inc.
  • Microsoft Corporation
  • CSS Corporation
  • Egain Corporation
  • Kognito Solutions, LLC
  • Healthtap, Inc.
  • Babylon Healthcare Services Limited
  • ADA Digital Health, among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global healthcare virtual assistants market.

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Healthcare Virtual Assistants Market: – Segmentation

By Product, Healthcare Virtual Assistants Market is segmented into-

  • Web-based Chatbots
  • Mobile-based Chatbots

By End User, Healthcare Virtual Assistants Market is segmented into-

  • Healthcare Providers
  • Patients
  • Other End Users

Ocular Drug Delivery System Market Share and Growth Factors Impact Analysis 2031

According to Future Market Insights (FMI), the demand for ocular drug delivery system is expected to rise considerably, enabling the market to surpass US$ 14,471.2 Mn in valuation by the end of 2021. The market is forecast to exhibit 6.8% CAGR between 2021 and 2031.

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Ocular drug delivery systems are designed for dispensing drug, biologic, biopharmaceutical, and botanical therapeutics for treating macular degeneration, glaucoma, presbyopia, allergy, anti-viral, dry eye, anti-infective and anti-inflammatory indications.

To overcome the ocular drug delivery barriers and improve ocular bioavailability, various conventional and novel drug delivery systems have been developed such as  ointments, emulsion, suspensions, aqueous gels, Nano micelles, liposomes, , and in situ thermosensitive gels for the earlier mention ocular diseases.

Glaucoma is the second-leading cause of blindness worldwide, accounting for up to 8% of total blindness. In India, glaucoma is the leading cause of irreversible blindness with at least 12 million people affected and nearly 1.2 million people blind from the disease. More than 90 percent of glaucoma cases remain undiagnosed in the community.

Thus the high incidence of ophthalmic diseases, resulting in the rise significant patient population, is driving the global ocular drug delivery systems market.

Ocular drug has to pass the water-fat-water membranous structure of cornea and this changing environment presents a significant barrier. That is why, for almost four decades, researchers have been involved in developing intraocular sustained-release drug delivery platforms.

Owing to the rigorous research studies, approvals for new ocular drug delivery techniques are currently recorded globally. This has helped the market to gain momentum over the last few years.

Key Takeaways from Ocular Drug Delivery System Market Study
  • Increasing focus on pharmaceutical innovation and research on drug delivery technologies is driving a transition towards particulate drug delivery systems, which will account for over 68% of the market in 2021.
  • Ophthalmic solution for ocular drug delivery system is expected to account for 60% the global market share by 2031.
  • Among distribution channels, hospital pharmacies accounted for 40% of the market share in 2031. Soaring influx of patients for treatment and availability of intensive care support have propelled the demand in the sehment.
  • North America holds the maximum share, owing to the presence of Tier1 players, high per-capita healthcare expenditure, and favorable reimbursement policies in the region.
  • The U.S. holds a more than 44% share in the global ocular drug delivery systems market.
  • The U.K. and Germany are leading markets in Europe, accounting for more than 41% of the Europe market in 2021.
  • South Korea is the fastest growing market in East Asia, exhibiting 10.3% CAGR through 2031.

“Increasing prevalence of eye infections, innovation in drug delivery technologies, and rising clinical trials are creating lucrative growth opportunities for ocular drug delivery system sales,” says the Future Market Insight analyst.

Increase in Funding for Research Activities Offers Growth Opportunities

Leading manufacturers in the ocular drug delivery system market are strengthening their market position through collaboration with various other organizations. Governments in developed and developing countries are actively taking initiatives to encourage research pharmaceutical products.

For instance, In April, 2017, Santen Pharmaceuticals announced a strategic investment in Regenerative Patch Technologies LLC, a U.S. based company engaged in development of ophthalmic therapies.

Pharmaceutical giants are expected to benefit from the globalization of labor forces, that is, employment of skilled local labor at cheaper rates to derive larger cost savings. Furthermore, this will create room for research and development (R&D) investments.

As per data from EFPIA and PhRMA, annual pharmaceutical (R&D) expenditures increased at 2.5% p.a. in Europe as compared to 3.3% p.a. in the U.S. over the latest measurable period 2016-2020. This will also create opportunities for the expansion of the market.

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Who is Winning?

The global market is set to expand due to the rising prevalence of eye infections. Leading players within this space are expected to focus on research and development to offer an early and precise diagnosis of ailment, besides offering effective patient care.

Some of the leading players in the ocular drug delivery system market include but are not limited to Allergan Plc., Graybug Vision Inc., Ocular Therapeutix, Inc., Alimera Sciences, pSivida, Santen Pharmaceutical Co., Ltd, Taiwan Liposome Company Ltd., Envisia Therapeutics, Eyegate Pharma, Valeant Pharmaceuticals International, Inc, Vision Ophthalmology Group GmbH, Clearside Biomedical, URSAPHARM Arzneimittel GmbH.

Non-Invasive Respiratory Monitoring Market 2021 | Present Scenario and Growth Prospects 2031

According to the latest research by the Future Market Insight, The Non-Invasive Respiratory Monitoring market is set to witness a Soaring growth in the forecast period 2021-2031 at a CCAGR of 8%. Respiratory monitoring device has wide range of application in all diseases related to respiration.

In the developing world the air is getting polluted at a high rate due to this may breathing problems occurs to the citizens worldwide. In fact, respiratory diseases are listed in the world’s biggest health concerns, causing one-sixth of all deaths globally. These reasons signifies the soaring growth of the market in forecast period globally .

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What is Driving Demand for Respiratory Monitoring Market?

The growing rate of respiratory disease globally due to the developments going on worldwide drives the market demand in the coming period. Factors such as highly accurate, rapid, and effective results produced by the Respiratory monitoring devices fuel the growth of the market.

The Increasing prevalence of asthma and chronic obstructive pulmonary diseases (COPDs) are some of the major factors driving the demand for respiratory monitoring devices.

The Covid-19 pandemic became the major factor responsible for the bullish growth in the market. Increasing efforts to introduce new technologies, sensors which are capable of providing accurate measurement on respiration rate.

COVID-19 Pandemic Likely to Augment Demand of Non-Invasive Respiratory Monitoring Market.

Covid-19 pandemic had a disastrous effect on citizens worldwide. The pandemic had a direct impact on the respiratory system of humans, In this period of covid-19  pandemic the manufacturers introduced new technology called pulse oximeter, which gives the accurate result for pulse rate and oxygen level in blood with the help of sensors, hence the covid-19 pandemic had a positive impact on the market as the demand for the respiratory monitoring devices increased at a high rate which helped in booming the market.

U.S. and Canada Non-Invasive Respiratory Monitoring Market Outlook

North American region holds the largest share in the respiratory monitoring devices. The factor responsible for the large share in segment are, the high awareness about Oximeters, spirometers and plethysmographs, economic capability to purchase expensive machines in large number, prevalence of respiratory diseases, rising demand for technologically advanced and innovative products in hospitals, diagnostic laboratories, home care , and outpatient ambulatory surgery centers and presence of well established companies in the region.

Europe & Asia pacific Demand & Outlook for Non-Invasive Respiratory Monitoring Market.

Europe holds the second largest share in the market, the factors responsible for the same are, the Highest Covid-19 cases which led in the highest demand of the respiratory monitoring market, The presence of established companies and developing companies boosts the demand of market.

Asia pacific is predicted to be the fastest developing region as the heath care expenditure is increasing year on year, the population is increasing, number of emerging companies is increasing every year, the introduction of new technologies boosts the demand of the market.

Who are the Key Manufacturers and Suppliers of Non-Invasive Respiratory Monitoring Products?

According to FMI Analysis,

  • VYAIRE (CareFusion Corporation)
  • Smith & nephew
  • GENERAL ELECTRIC
  • ResMed
  • Masimo
  • COSMED srl
  • MGC Diagnostics Corporation
  • Koninklijke Philips N.V.
  • Medtronic, and Teleflex Incorporated
  • Nihon Kohden Corporation
  • Novelda AS
  • Welch Allyn, Inc. (Hill-Rom Holdings, Inc.)

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are identified as the key players of the Non-invasive respiratory monitoring market.

Masimo Corporation introduces Root Patient monitoring and connectivity platform in September 2020.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Non-Invasive Respiratory Monitoring Market Report Highlights:

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

By Product:

  • Spirometer
  • pulse oximeter
  • peak flow meter
  • capnographs

By End Users:

  • Hospitals
  • Clinics
  • Home care

By Region:

  • Oceania
  • South Asia
  • East Asia
  • Europe
  • Latin America
  • North America
  • Middle East and Africa

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