Market Research Blog – Page 13279 – New Product Development

Dental Imaging Equipment Market is projected to increase from a valuation of US$ 2.99 Bn in 2021 to US$ 5.91 Bn by 2030

Global dental imaging equipment market is slated to witness a CAGR of 6% through 2030, according to a new report by ESOMAR-certified firm Future Market Insights (FMI).

Dental imaging equipment is witnessing demand from developed as well as developing economies alike, mainly due to increase in the number of patients (as per the WHO, around 50% of the global population (3.58 Bn) is suffering from oral ailments), coupled with the growth in the number of dental care centers. However, dental imaging is going “digital” now, though outbreak of Covid-19 has slowed down the market for the time being.

Digital Dentistry: The Future

In the year 2019, the IDC (International Dental Show) was attended by Institute of Digital Dentistry in Cologne, Germany. It threw light on the ways dentistry has evolved in the form of 3D printers, CAD materials, milling machines, and intraoral scanners. The institute otherwise provides training and CAD/CAM courses in New Zealand as well as online so as to keep the dentists and course attendees updated about clinical relevance and implementation of digitization by the key market players.

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Digital Expansion: Key to Growth

As stated above, the market players are looking to provide digital imaging solutions to cater to the increasing number of patients with dental ailments. Some of the measures taken in this regard include:

In Jun 2020, Level Equity-backed Planet DDS signed an agreement for acquiring Apteryx Imaging, a Canada-based publicly traded company with the objective to explore a wider arena in terms of geography
DENTSPLY Sirona Inc., in Oct 2019, launched 2 intraoral sensors (Xios AE and Schick AE) and 3D/2D imaging systems (Orthophos E, Orthophos SL 3D, and Orthophos S 3D)
In Oct 2019, Envista Holdings Corporation entered into a partnership with TeamSmile programs all through the US for propagating the use of KaVo SMARTmatic and KaVo MASTERtorque LUX M8900L

Key Takeaways of Dental Imaging Equipment Market Study

Extraoral X-Ray held 28.6% of revenue share in the dental imaging equipment market in 2019
Independent dental clinics accounted for major revenue share of 69.1% in 2019
North America and Europe contribute account for over 60% of market share in the dental imaging equipment market

Intraoral Scanners: The Trend Setter

The National Institute of Health, in 2017, inferred that intraoral scanners reduce discomfort of patients and simplify the dentists’ clinical procedures as plaster models get eliminated and a better course of communication could be administered.

“Planmeca Emerald”, an intraoral scanner has been targeting dentists’ as well as patients’ comfort at the same time since then. It weighs merely 183 grams and has ergonomic styling. The scanner’s tip is endowed with antifog feature that enables clear visibility. Infection control is exercised through autoclavable tip. Hands-free operation is possible through integration with dental unit and foot control.

Dental Wings, Inc. has its intraoral scanner with extra-powder-free scanning capabilities including full arch scans for bite splints, surgical guides, and orthodontic aligners.

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Why Future Market Insights?

• Comprehensive analysis on evolving purchase pattern across different geographies
• Detailed insights of market segments and sub-segments for historical as well as forecast period
• A competitive analysis of prominent players and emerging players in the keyword market
• Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years

Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

About FMI:

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Fertility and pregnancy rapid test kits Market is projected to increase from an estimated valuation of US$ 1.34 Bn in 2022 to US$ 1.88 Bn by 2030

Future Market Insights estimates that fertility and pregnancy rapid test kit market will experience a spike in sales in 2020, reaching US$ ~ 1.3 Bn by the year end. The recently released report by award winning research firm, examine the data pertaining to increased cases of gynecological disorders such as uterine polyps, fibroids, polycystic ovarian disease, and unexplained infertility worldwide over past decade. A three layered data of rapid pregnancy fertility test kits penetration across different channel and average monthly sales has been collected and global market statistics has been calibrated.

Consumer spending on self-diagnosis has increase by two fold in last three year, which is subjected to high associated and recurring cost for opting services from professional pathology labs. Raid test kits is convenient and comes with low complexity which captivate potential customers.

The report provides detail on other associated factors that has propelled the demand for these kits. One of such factor include the widespread availability of fertility and pregnancy rapid test kits on online sales channel as well its categorization as OTC product.

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Dual Capability Tests To boost The Sales of Fertility And Pregnancy Rapid Test Kits

Manufacturers are providing pregnancy test kits with dual capability and are also offering combined packs of fertility and pregnancy rapid tests, which can be used to qualitatively detect the presence of HCG hormone in both – urine and serum/blood. Users are rapidly adopting these combo kits as this eliminates the necessity to buy separate kits for urine and blood/serum testing. For instance, various products such as QuickVue HCG Combo, Test & Confirm, ICON 25 HCG, and many others are available commercially; which prove to be cost-effective. Covid-19 is adding to the sales of home-made combo kits; as social distancing forbids them from visiting the labs for tests.

Key Takeaways of Fertility and Pregnancy Rapid Test Market Study

Among distribution channels segmentation, pharmacies and drug stores are expected to hold nearly 50% of the market share
Rising age of first time pregnancy in North America is one of the major factors that drive its growth to the leading position in the market.

Collaborations with e-Commerce Partners – A Key Strategy

The market for fertility and pregnancy test kits is rapidly growing and key players are looking for strategic options to expand globally. While most players have a fairly good distribution network locally as well as globally, the strong competition presses these players to look for options to reach out to more number of customers to sustain in the market.

Most companies focus on sales of fertility and pregnancy test kits through online sales channels. With products available online, buyers can choose from a wide variety of products to best suit their requirements. For instance many e-commerce portals such as Walmart, Amazon Inc., etc. offer variety of brands with discounted prices which attract the buyer. Church & Dwight Co. Ltd., a major company in pregnancy and fertility test market generated 24% share of total revenue from sale of products through online distribution partner WalMart. PharmEasy is amongst the online pharmacy stores who delivers medicines to 98% PIN codes in India.

Want more insights?

Fertility and pregnancy rapid test market, a new study from Future Market Insights, opines on the fertility and pregnancy rapid test from 2015 – 2019 and presents demand projections from 2020 – 2030 on the basis of product (pregnancy rapid test (line-indicator devices (strips/dip sticks, mid-stream and cassettes) and digital devices and fertility rapid test (line-indicators and digital devices)), test type (LH urine, FSH urine, hCG blood, hCG urine), and distribution channel (pharmacies, drug stores, gynecology/fertility clinics, e-commerse and hypermarkets/supermarkets) across seven prominent regions.

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Spinal Imaging Market is forecast to exhibit above 5% CAGR between 2020 and 2030

The global spinal imaging market is expected to rise at above 5% CAGR between 2020 and 2030. Spurred by increasing volume of spinal surgeries and advent of cutting-edge imaging technologies, the spinal imaging market is forecast to reach an estimated valuation of nearly US$ 3 Bn by the end of 2030, finds Future Market Insights (FMI) in a recent study.

Rising demand for spinal imaging is expected especially on account of rising cases of spinal injuries. Often resulting from conditions such as spinal stenosis, herniated disks, cauda equine syndrome among others, incidence of spinal disorders is on the rise as well.

Spinal cord compression is identified as one of the chief causes leading to spinal surgeries. Besides this, vertebral fracture and spinal cancer might as well fuel demand for advanced imaging technologies to facilitate personalized care.

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Rising Cases of Spinal Infections Due to Intravenous Drug Abuse Fuelling Demand for Advanced Imaging Modalities

FMI reveals that the spinal imaging application will rise particularly due to increasing cases of spinal infections such as vertebral osteomyelitis, discitis, and epidural abscess. The risk of these conditions is surging due to the higher prevalence of risk factors such as diabetes, cancer, and intravenous drug abuse.

According to NCBI, the U.S. is home to over 2 million intravenous drug users. This invariably increases the risk of contracting spinal infections. Magnetic resonance imaging (MRI) currently leads the spinal imaging market as the primary imaging modality used for examining spinal infections.

The demand for spinal CT is rising as well especially in post-operative care due to its inherent advantages such a metallic body compatibility and low cost. FMI offers in-depth insights into the key factors fuelling demand across various product categories in the market.

In its study it uncovers hidden opportunities as well as cautions market players against potential threats. Some of the exclusive insights into the market included in the report are:

Spinal cord and nerve compression accounts for the leading number of spinal imaging surgeries. It constitutes the leading segments among applications in the market and will remain dominant through the course of the report’s forecast period
Hospitals account for the leading share in the spinal imaging market among end users. Presence of a high patient pool will seal hospitals’ position as the dominant segment through the forecast period
North America dominates the global spinal imaging market among regions however Asia Pacific is slated to report a higher CAGR backed by rising demand from India and China

Who is winning?

FMI profiles some of the leading companies operating in the global spinal imaging market. Some of these are Canon Medical Systems Corp., GE Healthcare, FUJIFILM, Siemens Healthineers, Koninklijke Philips N.V., Bruker, Shimadzu Corp., Mediso Ltd., Toshiba Medical Systems, Inc., Hitachi, Ltd.

Market players are primarily stressing on leveraging their research and development capabilities to underpin growth. From seeking approval from international organizations to developing more portable and low cost equipment, an increasing number of companies are riding the wave of innovation to gain competitive edge in the market.

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Orthopedic Braces and Support Market is anticipated to register revenue worth around US$ 5 Bn by 2030

Future Market Insights (FMI), in its latest report, has revised the global orthopedic braces market growth projection to 6.1% CAGR through 2030. This revised projection considers the sluggishness induced due to the COVID-19 pandemic.

Advancements in orthopedic braces and support market have offered umpteen benefits, bringing substantial improvements in average quality of life and lifespans.

Tech-driven innovation holds true potential for market players to enhance the understanding of patients, thus enabling at-scale convenience and individualized care.

The healthcare industry is embracing technological intervention with digital health, virtual health, and telehealth to treat patients.

Such trends are emerging as a potential disruptor in the orthopedic braces and support market, which has been facing the brunt of the COVID-19 pandemic.

Key Takeaways of Orthopedic Braces and Support Market Study

The orthopedic braces and support market to grow at robust 6.1% CAGR through 2030
Lower extremity products to capture around 70% revenue share; knee braces and supports to lead the way
East and South Asia to represent potential growth avenues for market players

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COVID-19 Impact on Orthopedic Braces and Support Market

The COVID-19 pandemic has affected every facet of the healthcare industry including, orthopedic braces and supports.

Regular orthopaedic practice has been considerably impacted by the pandemic.

Surgery schedules have been revamped, with elective cases being instantly delayed or cancelled and urgent cases demanding huge attention, particularly in suspected or confirmed COVID-19 cases.

This is having a measurable impact on inpatient management, accenting the need for dedicated personnel, patient quarantine and limited visiting hour regulation.

On the flip side, outpatient visits have been restricted to avoid contacts between patients and the hospital staff, with notable implications on post-operative quality of care delivery and healthcare professionals.

The pandemic has rapidly spurred the adoption of telehealth options such as performing non-urgent check-ups and post-operative visits via electronic mediums instead of in-person.

Visits are being organized by video or by phone. This sudden adoption of telemedicine has triggered a process that would have, otherwise, taken far longer to execute on such a global level.

Orthopedic Braces and Support Market – Competitive Intelligence

The global orthopedic braces and support market is slightly fragmented with presence of limited number of prominent players and large number of small- and medium-scale players. In order to sustain their customer base, market players are investing in product launches.

In addition to this, market players are also cashing in on acquisitions in a bid to expand their regional foothold. For instance, 3M has taken on Acelity Inc. and its KCI subsidiaries across the world to expand its offerings in advanced wound care.

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DDI Market is Projected to Register 15.6% CAGR 2022-2028

DDI solution sales were valued at around US$ 551.5 Mn at the end of 2021. The DDI market is projected to register 15.6% CAGR and top a valuation of US$ 1,532.2 Mn by 2028.

The DDI growth will continue to accelerate due to the continuous developments in IP management technologies. The growth of this market is driven by factors such as increasing adoption of DDI solutions in SMEs, rising adoption of IPv6 and IoT connected devices, rising number of cyber-attacks through social media platforms, rising adoption of BYOD (Bring Your Own Device) trend. DDI market is nearly 10% of network management system market.

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global ddi market

Top 3 Regional Markets for DDI Hold over 50% Value Share

While North America’s market for DDI services and solution will maintain the lion’s share in the global value, the report forecasts a collective share of over half of the market value for North America, Europe, and East Asia. Furthermore, DDI adoption is most likely witness an above-average rate within MEA over the coming years.

Demand for DDI solutions will continue to account for more than 50% of the total market value. However, FMI’s analysis highlights rapidly growing opportunities arising in the DDI services segment owing to the rising significance of managed & support services within enterprise environments.

With a collective share of over 55% in the market value, cloud & virtualization and network security will remain the top application areas of DDI services and solutions. Revenue through cloud deployment is poised to register an ascending rate in DDI market.

Businesses Demanding IP Address Management Solutions to Majorly Contribute in DDI Demand Growth

Rising adoption of IPv6 (Internet Protocol Version 6) and growing need for effective IP address management have been cited as the key opportunity areas for DDI solution and service providers in the market. Moreover, IP address management also holds crucial position in the modern business network infrastructure. However, low adoption rate of software-defined networking is found to be one of the key restraining factors in the global DDI marketplace. Software-defined networking provides a new way of delivering peripheral network services, including DDI. However, DDI solution providers are not delivering their software via SDN architectures.

According to the report, constantly increasing popularity of the BYOD (Bring your own device) trend at workplaces will prominently assist the growth of DDI market in the near future. Increasing network complexity and rapid addition of a number of network management points will further intensify the requirement of DDI services, thereby bolstering the revenue growth of market.

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DDI Market Participants to Strategize on Acquisitions

In the fairly consolidated competitive landscape of DDI market, a limited number of regional and local players are competing for firmer market positions. While new product launches and existing portfolio upgrade have been the important strategies assisting growth of companies in the DDI space, strategic acquisitions are most likely to emerge a popular growth strategy among the market participants.

FMI’s report has profiled some of the most prominent companies active in DDI services and solutions landscape, including Infoblox, Inc., Cisco Systems, Inc., BlueCat Networks, Inc., Nokia, TCPWave Inc., PC Network Inc., Men & Mice, EfficientIP, ApplianSys, FusionLayer, BT Diamond IP, Microsoft Corporation, and NCC Group plc. among others.

Key Queries Answered in the Report

How has the DDI market evolved in the past four years and what is the outlook for the next decade?
What are the key market trends and strategic developments in the DDI market?
What are the key challenges faced by the DDI solution and service providers?
What are the market dynamics in the global DDI market?
What are the strategies and market positioning of DDI solution and service providers as per the DDI market taxonomy?
What is the DDI market structure at present and how has it evolved in the past few years?

Global DDI Market Segmentation

By Component

Solutions
Services
Managed and Support Services
Professional and Training Services

By Application

Network Automation
Virtualization and Cloud
Data Center Transformation
Network Security

By Deployment Type

On-Premise
Cloud

By Organization Size

Large Enterprises
Small and Medium Enterprises (SMEs)

By Vertical

Information (Telecommunication & IT)
Finance & Insurance
Public Administration
Health Care and Social Assistance
Educational Services
Retail Trade
Manufacturing

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By Region

North America
Latin America
Europe
Middle East and Africa (MEA)
East Asia
South Asia
Oceania

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Ankylosing Spondylitis Treatment Market is expected to grow at a steady CAGR through 2020-2030

The global ankylosing spondylitis treatment market will continue to witness steady growth, driven by a slew of myriad, yet interconnected factors. A new report by ESOMAR-certified market research firm, Future Market Insights, offers incisive insights on key factors that will influence growth through 2030.

According to FMI’s report, the options for treatment include disease-modifying anti-rheumatic drugs (methotrexate), nonsteroidal anti-inflammatory drugs (naproxen, ibuprofen, celecoxib, meloxicam, and diclofenac), biologics (certolizumab pegol, secukinumab, infliximab), and biosimilars.

Key Takeaways from Ankylosing Spondylitis Treatment Market Study

Nonsteroidal anti-inflammatory drugs lead the market as they are looked upon as the first line of treatment for ankylosing spondylitis
Oral route of administration holds the largest market share due to simplicity of consumption.
By age group, “adults” contribute to majority of revenue generation as ankylosing spondylitis usually gets initiated in adulthood.
North America, led by the US, holds the highest market share due to well-established healthcare infrastructure, high incidences of ankylosing spondylitis, and innovations in pharmaceutical industry.

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Ankylosing Spondylitis Treatment Market Landscape

The major players in the ankylosing spondylitis market include Wyeth, Mitsubishi Tanabe, Schering-Plough, Takeda, Novartis AG, Amgen, Centocor, Abbott, Eisai, and Pfizer.

As per the Oxford University Press, around 1% of the US population, 1.3-1.56 Mn European population, and 4.63-4.98 Mn population in the Asia Pacific are affected by ankylosing spondylitis. Also, the market is witnessing massive investment on the part of research to table new formulations.

Inorganic growth parameters are also contributing a great deal to the growth of ankylosing spondylitis treatment market. For instance – Novartis AG, in Jan 2019, entered into a collaboration with TrialSpark with an objective of increasing patients’ access to the clinical trials. The enrollment timeline is expected to shorten, thereby speeding up development of novel therapies.

In Oct 2019, the European Commission approved Cosentyx to treat non-radiographic axial spondyloarthritis. The next step includes submission of label update application to US FDA and post approval, the market is expected to grow substantially.

“Agreement” is the other strategy used. For instance – Izana Bioscience, in Dec 2017, entered into a global license agreement with Takeda Pharmaceutical Company for manufacturing, commercializing, and developing Namilumab to treat ankylosing spondylitis.

Also, Zydus Cadila, in Nov 2017, launched Adalimumab’s biosimilar in India. It has been used to treat ankylosing spondylitis, rheumatoid arthritis, juvenile idiopathic arthritis.

Initiatives like these have been giving impetus to the ankylosing spondylitis market and the status quo is likely to remain the same in the forecast period.

Want More Insights?

The global ankylosing spondylitis treatment market is elaborated on the basis of drug class (Nonsteroidal Anti-inflammatory Drugs, Anti-Inflammatory Drugs, Immunosuppressive Drugs, TNF Blockers, JAK Inhibitors, Steroids, Biologics, and Others), route of administration (parenteral, oral), application (Adults, juvenile), and geography (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).

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Covid-19 Diagnostics Market by Product Type (Instruments, Test Kits, Reagents and Consumables), Sample Type (Oropharyngeal & Nasopharyngeal Swabs, Blood, Urine) to 2030

Strong focus on ‘test & trace’, and growing clamor for mass testing will continue to drive demand for Covid-19 diagnostics in 2020 and beyond, according to a new research by ESOMAR-certified firm Future Market Insights (FMI).

The study provides a long-term outlook on the Covid-19 testing kits market, providing a likely scenario until 2030. Although successful vaccines are likely to be developed by 2021, a growing body of research is suggesting that Covid-19 will become endemic, as is the case with other coronaviruses.

An exponential rise in the number of Covid-19 patients across the globe followed by requirements of rapid diagnostics will continue to drive demand.

As of now, research is being conducted regarding diagnostics as well as treatments. Diagnostics comprise PCR-based tests and serological or antibody testing. Antibody tests are best-suited for checking for herd immunities in recovered patients, whereas PCR tests serve the purpose of early detection of coronavirus.

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The healthcare industry is emphasizing on development of immunotherapy, vaccines, cell-based and antiviral therapies. As of May 2020, there were 124 vaccines and 205 diverse therapies under development.

The core areas of research are inclusive of protein-based vaccines, drug re-purposes, antibodies, cell-based therapies, non-replicating viral vectors, and RNA-based vaccines.

Key Takeaways from FMI’s Covid-19 Diagnostics Market Study

Molecular assay holds the largest share right now and the trend is expected to continue till the end of 2020. This could be attributed to the fact that molecular assays have been looked upon as a gold standard to detect novel viral infections
Diagnostic labs contributed to more than 60% of total market share in 2020’s first quarter

Key Challenges for Market Players & Researchers

Right now, the challenges faced include lack of information regarding the virus, like genetic information, biologics, duration of immunity in the recovered patients.

Certain treatment options that are expected to be potential game changers include ACE-Mab by Sorrento Therapeutics, HCQ (Hydroxychloroquine and chloroquine), Remdesivir antiviral by Gilead Sciences, and Canakinumab (Ilaris) by Novartis.

Moreover, options like cell-based therapies that involve natural killer cells or Mesenchymal stem cells and plasma therapies are on the verge of providing personalized treatment options.

Key Participant Insights

The key participants are focusing on acceleration of production as well as new product approval phase. For example – Novacyt Group, in Mar 2020, received EUA for 2-hour Covid-19 test. Also, in Apr 2020, CE approval was received by Abbott for IgG serology blood test for Covid-19.

The other players in the market include Veredus Laboratories, Thermo Fisher Scientific, Inc., Quidel Corporation, Perkin Elmer, Inc., Neuberg Diagnostics, Mylab Discovery Solutions Pvt Ltd., Luminex Corporation, Laboratory Corporation of America Holdings, Hologic Inc., Danaher, Cepheid, bioMérieux SA, Altona Diagnostics GmbH, ALDATU BIOSCIENCES, ADT Biotech Sdn Bhd, and 1drop Inc.

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Medical Hyperspectral Imaging Market is expected to witness a CAGR of over 6.2% between 2020 and 2030

The global medical hyperspectral imaging market will reach nearly USD 300 million by 2030, according to a new market research study by Future Market Insights (FMI), an ESOMAR-certified firm.

Growing number of healthcare ailments continues to drive advancements in medical imaging landscape. As such, computational power, image analysis, and hyperspectral cameras are the technological innovations being implemented all across the healthcare industry.

Non-invasive diseases as well as surgeries are being precisely figured out by imaging sensors. Also, they do not emit any sort of radiation to harm the patient or operator. According to FMI’s analysis, these factors will provide impetus to the market during the assessment period.

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Key Takeaways

Hyperspectral camera holds the largest market share owing to latest advancements with respect to sensor development
High preference for accuracy to boost prospects of MHSI in healthcare
US and Europe to collectively account for nearly 40% revenue share
India’s growth as a medical tourism hub to create opportunities for market players

Although FMI’s report is bullish on the use of hyperspectral imaging in medical applications, initial investments and reluctance to experiment will lead to limited adoption, especially in the next couple of years.

FMI’s discussion with stakeholders across the value chain revealed that concerns related to data storage, and the subsequent associated cost has been a key restraint for end-users. Many providers are offering cloud-based storage options, and it is likely that over the course of the forecast period, adoption will gradually increase.

Hyperspectral imaging used in a range of sectors apart from healthcare. The key hyperspectral imaging players are continuously focusing on offering technologically-superior products, not just for the healthcare industry.

According to FMI, holistic advances in hyperspectral imaging will boost the confidence of healthcare industry and fuel adoption. However, manufacturers will need to maintain that elusive balance between quality offerings and competitive pricing.

Key Participant Insights

The global MSHI market exhibits higher growth potential along with entry of new players.

The players have been concentrating on offering software/accessories for further strengthening the market’s competitive environment.

The competitive factors include product differentiation, technology and image software upgrading, on-site and online servicing, and competitive pricing.

The players in the medical hyperspectral imaging market include IMEC, Norsk Elektro Optikk, Galileo, Gilden Photonics, Resonon, XIMEA, Gooch & Housego, Chemlmage, Applied Spectral Imaging, Cubert, EVK DI Kerschhaggl, Headwall Photonics, and FluxData.

Want more insights?

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The global medical hyperspectral imaging market is segmented in detail to cover every aspect and present a complete market intelligence approach to the reader.

The study provides compelling insights on medical hyperspectral imaging market on the basis of product type (healthcare hyperspectral cameras, accessories), application (medical diagnostics (ophthalmology, wound diagnostics, oncology, GI Diseases, others)), tissue and cell biology, drug discovery, others), technology (Visible Hyperspectral Imaging, Near-Infrared Hyperspectral Imaging, Ultraviolet Hyperspectral Imaging, Short-Wave Infrared Imaging, and Mid-Wave Infrared Hyperspectral Imaging), end-user (diagnostic centres, hospitals, research & academic centres, pharmaceutical & biotechnology companies) across seven regions.

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Compression Therapy Market is expected to witness a CAGR of 5.4% through 2020-2030

The USD 3 billion compression therapy market is likely to grow witness 6% CAGR through 2030, despite the COVID-19 blip, according to market research firm Future Market Insights. According to a latest study that tracks compression therapy adoption and market analysis in 20+ countries, the long-term outlook remains optimistic.

Highlighting the key influencing factors, the study opines that growing diabetic population across the globe has increased the demand for compression stockings and diabetic socks. Moreover, innovations like NPWT (Negative Pressure Wound Therapy) have turned out to be the modus operandi for managing acute and chronic wounds. Also, advancements in pneumatic compression therapy have proven to be effective and safe in treating lymphedema (caused by HNC – head and neck cancer) as stated by “Supportive Care in Cancer”.

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Key Takeaways from Compression Therapy Market Study

The static compression therapy held the largest market share in 2019 and the trend is expected to continue in the forecast period (2020-2030)
Chronic ulcers are expected to hold more than 69% of market share in terms of revenue in 2020
Among all distribution channel, institutional sales is the leading segment followed by retail sales. Retail sales segment is anticipated to grow at CAGR of 6% over the forecast period
North America and Europe are collectively expected to hold more than 67% of revenue share in 2020 while East Asia is expected to show greater growth potential in the forecast period.

Expansion with Research: The Latest Trend

The compression therapy market players are onto the expansion spree to stand out.

For instance –

In May 2020, British Medical Journal published a study that stated that anti-embolism stockings are all the more effective with respect to DVT (deep vein thrombosis). This finding is bound to influence players to go for production of anti-embolism stockings in the forecast period

Avanos Medical Inc., in the year 2018, announced acquiring CoolSystems, Inc. The products post acquisition were marketed as “Game Ready”

Huntleigh Healthcare Ltd.’s IPC (Intermittent Pneumatic Compression) products under the “Hydroven” brand are a noteworthy addition to vascular assessment systems

Key Participant Insights

The global market is set to broaden its scope in the forecast period, stimulated by high prevalence rate of diabetes, rising geriatric population globally and adoption of advanced compression therapy systems which can be used as bi-layer and multi-layer for conventional treatment option. In addition to this, strict guidelines limits the design space for potential conceptual ideas and availability of alternate therapies has augmented the sales of compression products.

The key market players covered by FMI include Paul Hartmann AG, Sigvaris AG, Cardinal Health Inc. and 3M Health Care Ltd. consolidating their positions through mergers, acquisitions and new product launches.

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Cold Plasma Market to surge at a noteworthy CAGR from 2020-2030

FMI’s recent report projects the cold plasma market to expand staggeringly, attributed to its increasing application in the healthcare industry to treat hospital acquired infections. In its new study that tracks markets across 20+ countries, the report opines demand from food processing industry to complement growth in addition to the sustained demand from healthcare sector.

Additionally, recent clinical trials have established the effectiveness of cold plasma treatment in the removal of post-surgery cancer tumors, especially in the breast and lung segments. The treatment is widely accepted due to its ability to target malignant tissues and leave healthy ones intact.

Cold plasma treatment is also being touted as an effective remedy against the ongoing COVID-19 pandemic. The capability to neutralize over nine out of ten pathogens from the airstream is prompting healthcare providers to increase their research in this area of treatment.

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Key Takeaways

Low temperature atmospheric pressure plasma to capture the lion’s share during the forecast period
Food processing & packaging slated to expand impressively due to increased awareness regarding food contamination due to surface pathogens
Administration for healing chronic wounds to experience immense white spaces in terms of application
North America to retain market hegemony, Asia-Pacific offer lucrative prospects in the textile industry

COVID-19 and the Cold Plasma Market

The novel coronavirus pandemic has substantially hindered growth prospects of the cold plasma market, especially in the chemicals, automotive manufacturing, food processing and textile industries. This is due to a major business crunch experienced by these industries due to mandatory lockdowns.

However, medical practitioners are advocating cold plasma as an effective remedy to treat positive patients, thus keeping its demand afloat in the healthcare industry. Based on trials conducted on adenoviruses and noroviruses, scientists are optimistic about the treatment successfully eradicating the novel coronavirus strain.

The overarching aim of healthcare practitioners is to administer the plasma intensive care on mechanically ventilated COVID-19 patients to reduce viral load and prevent bacterial pneumonia. This lucrative potential across the medical sector is anticipated to keep the market afloat in the short-run.

Competitive Intelligence

Prominent players within the global cold plasma market include Nordson Corporation, Europlasma NV, Plasmatreat GmBh, Terraplasma Medical GmBh, Henniker Plasma, US Medical Innovations, Molecular Plasma Group, Nordson Corporation, Adtech Plasma Technology Co Ltd., Smith & Nephew plc and Thierry Corporation to name a few.

In February 2020, Adtech Plasma Technology initiated a new project in collaboration with Hull York Medical School for testing gas plasma on osteomyelitis bone infections. The project will assist in establishing a laboratory testing model for evaluating and optimizing plasma treatment for osteomyelitis biofilm infections.

Plasmatreat has deployed a prototype cleaning station in conjunction with the Bavarian Red Cross for disinfecting single-use protective clothing for frontline COVID-19 healthcare workers.

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Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

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