Market Research Blog – Page 1381 – New Product Development

Global Demand for Transformer Oils Surges with the Integration of Renewable Energy Sources into Power Grids

According to FMI analysis, over the years from 2023 to 2033, the overall demand for transformer oil industry size is anticipated to expand at an 8.8% CAGR. The demand for transformer oil continues to increase notably on a global scale which was valued at around USD 4,015.2 million in 2022. By the end of this forecast period, the net valuation is further predicted to reach around USD 10,140.8 million.

Currently, the sales of transformer oils are being driven by the rising power sector, particularly in emerging nations. This increment is also being aided by updating and modernizing outdated electrical infrastructure to improve productivity, dependability, and security in other developed nations.

Surging global demand for transformer oils from the power industry is a prominent factor in the growth of the market. An efficient infrastructure for power generation, transmission, and distribution depends heavily on transformer oils.

Certain other large industrial units with their power supply sources are also responsible for the emerging trends and opportunities besides the power sector. Transformer oils improved by great dielectric strength and high cooling capabilities, are expected to further drive its demand by private consumers in the coming days.

The growing use of bio-based transformer oils is a recent development that is also fueling the emerging trends in the market. For instance, ABB introduced a transformer oil consisting of bio-based components in 2022, claiming it to be environment-friendly and sustainable.

Compared to conventional mineral-based oils, bio-based oils provide the benefits of high fire resistance and increased environmental sustainability. As governments and businesses are now placing a high priority on eco-friendly options, this new segment is anticipated to increase at a faster rate.

Key Takeaways from the Transformer Oil Market Study Report

The overall market is anticipated to develop globally from 2023 to 2033 at 8.8% CAGR experiencing an absolute dollar growth of US$ 10,140.8 million.
The United States contributed nearly 8.0% of the revenue generated by the market globally in the year 2023 to 2033.
Germany is the leading supplier of transformer oils in Europe and it held a global market share of 7.6% in 2033.
China and India showcase a remarkable growth in demand for transformer oils and could witness 7.0% and 10.1% CAGRs respectively through 2033.

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Competitive Landscape for the Transformer Oil Market Players

The market competition is being shaped by the emergence of many regional payers surrounding the use and disposal of transformer oils. So, manufacturers have upped their spending on research and development to create transformer oils that adhere to strict safety and environmental regulations to outcompete their rivals.

Recent Developments by the Transformer Oil Manufacturing Industries

A new additive from GE Oil & Gas was introduced in 2021 to enhance the functionality and durability of transformer oils. It is claimed to increase the lifespan of transformer oils by up to 20% and assist in preventing the development of sludge and other hazardous deposits.
Castrol released a new transformer oil in the market in the year 2020 and claims it to be more oxidation- and corrosion-resistant. According to the report, this new oil is perfect for usage in abrasive settings like those found in power plants and substations.

Key Companies Profiled

Royal Dutch Shell
Exxon Mobil Corporation
Repsol
Nynas AB
Sinopec Lubricant Company
APAR Industries
Petro China Company Limited
Savita Oil Technologies Limited
Chevron Corporation
M&I Materials Limited
Petro-Canada
Gandhar Oil
Lubrita
Phillips 66 Company
Ergon, Inc.

Transformer Oil Market Segmentation by Category

By Oil Type:

Mineral Oil
- Paraffinic
- Naphthenic
Silicone Oil
Bio-based Oil

By End-use:

Transmission and Distribution
Power Generation
- Coal
- Nuclear Plants
- Wind Energy
- Solar
- Others
Railways & Metros

By Application:

Transformer
Switchgear
Reactor

By Transformer Capacities:

LV Transformers
- Up to 50 kva
- 50 to 100 kva
- 100 to 500 kva
- Above 500 kva
MV Transformers
- Up to 1 Mva
- 1 to 5 Mva
- Above 5 Mva
HV Transformers
- Up to 10 Mva
- 10 to 50 Mva
- 50 to 100 Mva
- 100 to 500 Mva
- Above 500 Mva
Traction Transformer
- Up to 5 Mva
- 5 to 10 Mva
- 10 to 15 Mva

By Region:

North America
Latin America
Europe
East Asia
South Asia Pacific
Middle East and Africa

Old Source: Transformer Oil Market to Reach US$ 8,703.2 Million by 2032 Owing to its Usage in Diverse Industries to Offer Fault-Free Operations | Future Market Insights, Inc.

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.

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Global Electronic Medical Record Market to Reach USD 34.34 Billion by 2034, Growing at a 6.2% CAGR

Future Market Insights has released an updated report on the electronic medical record (EMR) ecosystem, revealing significant opportunities and growth prospects for the next decade. According to the report, the global EMR market is projected to reach a valuation of USD 18.82 billion in 2024. Driven by increasing consumer expectations for simplicity and transparency, the market is expected to grow at a compound annual growth rate (CAGR) of 6.2%, reaching an estimated USD 34.34 billion by 2034.

The report underscores the continuous demand for electronic medical records, driven by the industry’s focus on simplifying user interfaces and improving the clarity of information. As electronic medical record producers align their offerings with consumers’ needs for more intuitive and understandable systems, the demand for EMR solutions is expected to rise substantially.

This remarkable expansion underscores the escalating adoption of electronic medical records (EMR) across the healthcare landscape, revolutionizing the way patient information is documented, managed, and utilized.

As the healthcare industry seeks scalable solutions to meet evolving demands, numerous healthcare providers are opting for electronic health records as a software-as-a-service (SaaS) model. This approach ensures seamless integration, improved data accessibility, and greater operational efficiency, contributing to the market’s overall momentum.

The future of healthcare is being reshaped by EMR systems, providing comprehensive, secure, and accessible patient data management. As the industry continues to evolve, the global EMR market is poised to play a pivotal role in enhancing healthcare delivery and

The market is expanding as a result of an increase in the number of benefits, including lower infrastructure and maintenance expenses, lower license and start-up costs, and greater accessibility. Improved productivity and quicker, simpler adoption are two benefits of cloud-based EMR solutions. The application is incredibly scalable because of its cloud-based architecture (pay-as-you-go storage utilization). It removes departmental silos of healthcare data to streamline and consolidate storage resources to reduce costs and boost efficiency.

Large, well-known firms are starting to enter the cloud sector. To maintain the level of patient care, the cloud infrastructure also provides real solutions for business continuity and disaster recovery. As a result, it is anticipated that the market for cloud-based EMR will expand dramatically. To give medical staff relatively easy access to patient records, the digital revolution in healthcare is essential. During the projection period, it is predicted that the growing need for systems and software that connect hospitals, clinics, and other healthcare facilities will become a growth driver.

A greater emphasis is placed on strategic partnerships between leading suppliers of electronic medical record solutions as market rivalry intensifies. Additionally, it is projected that the constantly growing need for knowledge sharing and technology upgrades to improve healthcare efficiency will foster partnerships between important actors.

Key Takeaways from the Electronic Medical Records Market

The US electronic medical records (EMR) market is anticipated to expand at a CAGR of 6% over the forecasted period.
By 2033, it is anticipated that the cost of implementing electronic medical records (EMR) in the US will surpass US$ 18.4 Bn.
The UK electronic medical records (EMR) industry is anticipated to expand at a CAGR of 8.4% throughout the anticipated time frame.
By 2033, the UK’s sales of electronic medical records (EMR) systems are anticipated to surpass US$ 1.6 billion.
The market for electronic medical records (EMR) in India is anticipated to expand at a CAGR of 8.2% over the forecasted period.
By 2033, the Indian market for electronic medical records (EMR) will reach more than US$ 255.0 Mn.
In 2021, the market for electronic medical records (EMR) was dominated by cloud-based EMRs, which accounted for more than 50.0% of total revenue.
Hospital electronic medical records (EMR) are expected to increase at a CAGR of 6.4% throughout the forecast period due to rising pandemic and epidemic infections and the requirement for global vaccination against a wide range of diseases.

Who is Winning?

According to Future Market Insights (FMI), top EMR solution providers are building alliances with the local healthcare system, engaging in mergers and acquisitions, and bolstering their distribution networks to develop and explore the underdeveloped markets of Asia and Latin America. To break into middle-income and emerging markets, market companies are also concentrating on raising awareness, lowering the price of EMR software and related services, and fusing EMR with contemporary technologies.

Microsoft Corp. acquired Nuance Communications, Inc. in April 2021 to empower healthcare providers with the power of ambient clinical intelligence and other Microsoft cloud services.
Capital Health, a regional leader in providing cutting-edge, high-quality patient care, introduced a new electronic health record (EGR) in the acute care divisions of both of its hospitals in February 2021 to better serve its patients.
The “Patient” database personal health record (PHR) of the patient will now be able to safely transfer the patient’s existing health records from the “Patient” database onto the Apple Health app, according to a May 2021 announcement from DrChrono. This should simplify the procedure and make it easier to access medical data more quickly.

A Full Report – Overview

Key Segments Covered in Electronic Medical Records Market Study

By Product Type:

Hospital EMR
Ambulatory EMR

By Component:

EMR Software
EMR Services

By Application:

Client Server Setup EMR
Hybrid Server Setup EMR
Cloud Based EMR

By End User:

Hospitals
Specialized Clinics
General Physician Clinics
Ambulatory Surgical Centers

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Global Peptide Therapeutics Market Set to Triple, Reaching USD 106 Billion by 2033 with a CAGR of 10.8%

The global peptide therapeutics market is poised for extraordinary growth over the next decade. Valued at USD 38.0 billion in 2023, the market is expected to surge to an impressive USD 106.0 billion by 2033, driven by a compound annual growth rate (CAGR) of 10.8% from 2023 to 2033.

Key Takeaways:

Market Valuation: The peptide therapeutics market is valued at USD 38.0 billion for 2023.
Growth Forecast: The market is projected to expand at a robust CAGR of 10.8%, reaching USD 106.0 billion by 2033.
Growth Drivers: The market’s expansion is fueled by advancements in drug development, increasing prevalence of chronic diseases, and the growing adoption of peptide-based therapies.

This remarkable growth trajectory underscores the increasing importance of peptide therapeutics in the global pharmaceutical landscape and highlights their potential in treating a wide range of conditions.

Peptide therapeutics, which now hold a substantial 53.7% share of the global drug discovery market, are becoming increasingly prominent due to their effectiveness and versatility. Historically used for over a century to treat metabolic illnesses, peptide medicines offer several advantages over traditional small chemical compounds, such as greater specificity and fewer side effects, leading to rising demand across various regions.

The Asia Pacific market, in particular, is witnessing rapid advancements in peptide-based drugs, driven by increasing investments and growing healthcare infrastructure in the region. This surge in interest underscores the expanding global footprint of peptide therapeutics.

Further, peptide therapeutics can be a preferred alternative to small molecule and biological therapeutics. All of these factors have led to an upsurge in research and investments in peptide drug recovery over the last ten years and is expected to bode well for the future prospects of the market.

Again, surging incidences of metabolic disorders and high prevalence of cancer propel the demand for investments in research and development activities in the field of peptide therapies. These illnesses are the prime cause of death and disability all over the world. As a result, there a greater demand for the development of peptide therapeutics. Peptide-based drug delivery for cancer cells coupled with enhancements in the next generation therapeutics will presumably supplement the market expansion of peptide therapeutics. In addition to this, there’s a rise in the interest in therapeutic peptide research due to commercial reasons. Thus, it is presumed that peptide drug recovery will play a crucial role in the healthcare industry.

“Heightened application of peptides in the treatment of diabetes and cancer will likely augment the sales of peptide therapeutics in the global market over the forecast period,” says an FMI analyst.

Competitive Landscape:

Eli Lilly and Company, AstraZeneca plc, Merck & Co., Inc., Ipsen S.A, Novo Nordisk A/S, and Teva Pharmaceutical Industries Ltd., among others are some of the major players in the peptide therapeutics market that are profiled in the full version of the report.

In a moderately competitive market, major players are concentrating on market expansion activities. These organizations are engaging in distribution agreements, white space exploration, and collaborative ventures. The more established businesses are focusing on working with local players in order to expand their production capacities and improve their regional presence.

More Insights into the Peptide Therapeutics Market Report

In its latest report, FMI offers an unbiased analysis of the global peptide therapeutics market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2025. To understand the global market potential, growth, and range, the market is segmented based on application (cancer, cardiovascular diseases, central nervous systems, metabolic disorders, infections, hematological disorders, gastrointestinal disorders, dermatology, respiratory disorders, acromegaly, other applications), route of administration (parenteral route of administration, mucosal route of administration, oral route of administration, transdermal route of administration), drug type (branded drugs, generic/ biosimilar drugs), and region.

According to the latest FMI reports, based on region, the peptide therapeutics market in North America is expected to dominate the market over the forecast period. A surge in government investments as well as an increase in industry spending on research and development activities in peptide therapeutics is driving the regional market growth. This market is further supported by the target market expansion in the United States. Owing to the high prevalence of cancer along with increasing research and development activities, the U.S. peptide therapeutics market is expected to witness impressive growth over the forecast period.

In India, the peptide therapeutics market is anticipated to gain many profitable future prospects. The rising adoption of synthetic peptide drugs in India is likely to propel the market growth in this region. Rising incidences of chronic illnesses and an ageing population also contribute to the market growth.

Based on segmentation, on the basis of route of administration, the parenteral route will continue to gain momentum over the forecast period.

A Full Report – Overview

Key Segments:

By Application:

Cancer
Cardiovascular Diseases
Central Nervous Systems
Metabolic Disorders
Infections
Hematological Disorders
Gastrointestinal Disorders
Dermatology
Respiratory Disorders
Acromegaly
Other Applications

By Route of Administration:

Parenteral Route of Administration
Mucosal Route of Administration
Oral Route of Administration
Transdermal of Route Administration

By Drug Type:

Branded Drugs
Generic/Biosimilar Drugs

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Global Light Therapy Market Projected to Reach USD 1,586.8 Million by 2034, Growing at a 4.6% CAGR

The global light therapy market is set for steady growth over the next decade, with market value expected to rise from USD 1,017.2 million in 2023 to USD 1,012.1 million in 2024. By 2034, the market is projected to reach a valuation of USD 1,586.8 million, expanding at a compound annual growth rate (CAGR) of 4.6% during the forecast period.

Key Takeaways:

Current Market Value: The light therapy market was valued at USD 1,017.2 million in 2023.
Forecasted Growth: The market is expected to reach USD 1,012.1 million in 2024 and expand to USD 1,586.8 million by 2034.
Growth Rate: The market is anticipated to grow at a CAGR of 4.6% over the forecast period.
Market Drivers: Increasing awareness of light therapy’s benefits, advancements in technology, and the rising prevalence of conditions such as seasonal affective disorder (SAD) are driving market growth.

This promising outlook for the light therapy market reflects its growing adoption as a therapeutic solution for various health conditions, supported by ongoing advancements in the field.

In 2023, the light therapy market was valued at USD 1,017.2 million, demonstrating its established presence and continued expansion within the therapeutic landscape. Light therapy, also known as phototherapy, has gained recognition for its efficacy in treating various conditions, including mood disorders, sleep disorders, and skin conditions.

Recent studies highlight the benefits of light therapy in managing seasonal affective disorder (SAD), depression, and sleep problems, reinforcing its therapeutic value. The increasing awareness and adoption of light therapy for these applications are contributing to the market’s robust growth.

There has been a notable increase in the prevalence of both insomnia and personal depression in recent years. Apart from depression and insomnia, light therapy has gained popularity due to disturbed sleep patterns. Due to these circumstances, sales of progressive treatment equipment—which uses superior UV light to treat various disorders—have increased significantly.

Competition Analysis of the Light Therapy Market

The market for light therapy is competitive, with large companies tussling it out with smaller players for a piece of the pie. Startups are flourishing in the light therapy landscape. Some of the prominent companies in the market include Koninklijke Philips N.V., Verilux Inc., Northern Light Technology, and Sphere Gadget Technologies.

Recent Developments in the Light Therapy Market

In August 2023, Eyerising International Pty Ltd.’s myopia management device, which uses red light therapy, received approval from the Australian Therapeutic Goods Administration (TGA).
In February 2022, a partnership was announced between Arizona Coyotes and Mito Red Light Inc.

Key Companies in the Light Therapy Market:

Koninklijke Philips N.V.
Verilux Inc.
Northern Light Technology
Sphere Gadget Technologies
Zepter International
PhotoMedex Inc.
Luminette
Klarstein
Lumie
Aura Daylight
Lifepro Fitness
STRATA Skin Sciences, Inc.
Oralucent
Mito Red Light Inc.

A Full Report – Overview

Key Segments

By Product:

Light Box
Floor and Desk Lamps
Light Visor
Dawn Simulator
Light Therapy Bulbs

By Light Type:

White Light
Red Light
Blue Light

By End User:

Dermatology Clinics
Homecare Settings
Others (Workplace, Salons)

By Region:

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

About Future Market Insights (FMI)

Contact Us:

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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Bone Growth Stimulators Market Expected to Reach USD 5.4 Billion by 2033, Growing at a 10.1% CAGR

The bone growth stimulators market is on a robust growth trajectory, with projections indicating a market size of USD 2.1 billion in 2023. This growth is anticipated to accelerate, with the market expected to rise to USD 5.4 billion by 2033. The market is forecasted to experience a significant compound annual growth rate (CAGR) of 10.1% during the forecast period.

Key Takeaways:

Market Valuation: The bone growth stimulators market is projected to be valued at USD 2.1 billion in 2023, with expectations to expand to USD 5.4 billion by 2033.
Growth Rate: The market is expected to grow at a robust CAGR of 10.1% over the forecast period.
Market Drivers: Increasing prevalence of orthopedic conditions, rising awareness about advanced treatment options, and technological advancements in bone growth stimulation are key factors driving market growth.

The strong projected growth reflects the rising demand for effective bone growth stimulators and highlights the ongoing advancements in the field of orthopedic care.

Bone growth stimulators are increasingly recognized for their critical role in accelerating bone healing and promoting recovery in patients with fractures, spinal fusions, and other orthopedic conditions. The market’s robust growth is driven by rising incidences of bone-related disorders, advancements in technology, and an increasing focus on improving patient outcomes through innovative treatments.

A bone growth stimulator’s best advantage is that it accelerates the entire process of bone healing, resulting in faster recovery, shorter hospitalisation, higher cost-effectiveness, and fewer infections.

According to a recent study conducted by the International Osteoporosis Foundation, statistics revealed that more than200 a million people are suffering from osteoporosis. Worldwide, 1 in 3 women over the age of 50 years and 1 in 5 men will experience osteoporotic fractures in their lifetime. These numbers are anticipated to increase at a fast pace in the assessment period, therefore, bolstering the demand for Bone Growth Stimulators worldwide.

Competitive Landscape

The prominent players operating in the global Bone Growth Stimulators market are extensively investing in research and development activities in order to launch innovative and technologically advanced products that cater to an expanding customer base. In addition to that, dominant market players are heavily investing in mergers, acquisitions, collaborations, and partnerships to strengthen their distribution networks.

Some of the leading companies operating in the Bone Growth Stimulators Market are

Zimmer Biomet Holdings Inc
Bioventus LLC.
DJO Global, Orthofix Holdings, Inc.
Ossatec Benelux Ltd.
IGEA
Ito Co., Ltd.

More Insights into the Bone Growth Stimulators Market

The US is expected to dominate the North American region by garnering maximum sales in the global Bone Growth Stimulators market. The global market is anticipated to account for about 42.5% of the total market share in 2022. According to the CDC, around 1 out of every 4 US adults (23.7%, 58.5 million people) suffer from diagnosed arthritis. The incidence of arthritis and osteoarthritis is predicted to grow in the forthcoming years, which in turn will propel the demand for electrical Bone Growth Stimulators over the assessment period.

The UK is predicted to dominate the European Bone Growth Stimulators market in the forthcoming years, as it accounts for around 20.4% of the total market share in 2022. The growth is attributed to the growing preference for minimally invasive procedures and the rising popularity of medical tourism in the country.

A Full Report – Overview

Bone Growth Stimulators Markets by Category

Product Type:

Non-Invasive Bone Growth Stimulators
Capacitive Coupling (CC) Devices
Pulsed Electromagnetic Field (PEMF) Devices
Combined Magnetic Field (CMF) Devices
Ultrasound Bone Growth Stimulators
Invasive Bone Growth Stimulators

Application:

Trauma Injury and Fractures
Spinal Fusion
Osteogenesis

End User:

Hospitals
Orthopedic Clinics
Ambulatory Surgical Centers
Homecare settings

By Region:

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

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Laboratory Information System Market to Reach USD 2,166.3 million in 2024, Projected to Grow to USD 3,620.3 Million by 2034 at a 5.3% of CAGR

Global Laboratory Information Systems Industry — Global Laboratory Information Systems Market

The global laboratory information system (LIS) market is experiencing robust growth, with projections indicating a market size of USD 2,166.3 million by 2024, reflecting a year-over-year growth rate of 6.0%. Over the next decade, the market is expected to expand further at a compound annual growth rate (CAGR) of 5.3%, reaching an estimated USD 3,620.3 million by 2034.

Key Takeaways:

Market Valuation: The laboratory information system market is set to achieve a valuation of USD 2,166.3 million in 2024, up from previous levels.
Growth Forecast: The market is projected to grow at a CAGR of 5.3% over the next decade, reaching USD 3,620.3 million by 2034.
Demand Drivers: The growing demand for cloud-based laboratory information systems is a major driver, due to their enhanced accessibility, scalability, and cost-effectiveness. The cloud-based segment is expected to advance at a CAGR of 6.0% from 2024 to 2034.

The anticipated growth reflects the increasing adoption of advanced LIS solutions and the shift toward cloud-based systems, which offer significant advantages in modern laboratory management.

Germany dominates the European market for laboratory information systems, having accounted for a 28.2% market share in 2014, followed by France. The U.K is expected to become a major market for laboratory information systems (LIS) in the coming years.

The European laboratory information systems market is segmented on the basis of products, types, components, delivery mode, end users, and countries. The product segment is divided into standalone LIS and integrated LIS. The types included in the report are clinical LIS and anatomical LIS. The components covered in the report are services and software. On-premise, remotely-hosted, and cloud-based are delivery modes discussed in the report. The end users’ segment is further classified into clinical diagnostic laboratories, hospitals, anatomical pathology laboratories, blood banks, and molecular diagnostic laboratories. The countries such as Germany, Italy, Spain, U.K., and France would experience tremendous growth.

The European Commission’s new framework, Horizon 2020 has been the largest ever research and innovation programme in Europe for various fields including life sciences with a budget of $95 billion (€77 billion) from 2014-2020. In October 2017, The European Commission announced its plans to invest $37 billion (€30 billion) of this fund during 2018-2020 including $2.5 billion (€2 billion) to support Open Science, and $740 million (€600 million) for the European Open Science Cloud, European data infrastructure and high-performance computing. Horizon 2020 opened funding opportunities for future and emerging technologies and ICT Work Programme for life science researchers. Thus, increasing R&D activities and government funding will ultimately boost the demand for effective data management and hence drive the laboratory informatics market in Europe.

Competitive Landscape

Top companies in the laboratory information systems market are constantly releasing new products to increase their market share. They are bolstering their global reach through mergers, partnerships, and acquisitions.

Recent Developments

In September 2022, McKesson Corporation signed an agreement in principle to extend its partnership with CVS Health to distribute pharmaceuticals to mail order and specialty pharmacies, retail pharmacies and distribution centers through June 2027.

Key Companies Profiled:

ECerner Corp, Evident, McKesson, Medical Information Technology, Epic Systems Corporation, SCC Soft Computer, Roper Technologies Inc., CompuGroup Medical, and LabWare

Key Segments Covered in the Laboratory Information Systems Industry Analysis

By Components:

Software
Hardware
Services

By Delivery Mode:

On-Premise
Cloud-Based

By End User:

Hospitals
Clinics
Independent Laboratories
Others

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Global Hyperbaric Oxygen Therapy Devices Market Poised for Robust Growth, Projected to Reach USD 6.86 Billion by 2033

The global hyperbaric oxygen therapy (HBOT) devices market is set for significant expansion, with an anticipated valuation of USD 3.47 billion in 2023. Driven by the increasing application of HBOT in wound healing and a growing number of athletes seeking its benefits, the market is projected to grow at a compound annual growth rate (CAGR) of 7.0% from 2023 to 2033, reaching approximately USD 6.86 billion by the end of the forecast period.

Key Takeaways:

Market Valuation: The hyperbaric oxygen therapy devices market is expected to be valued at USD 3.47 billion in 2023.
Growth Forecast: The market is projected to grow at a robust CAGR of 7.0%, reaching around USD 6.86 billion by 2033.
Growth Drivers: The increasing use of HBOT for wound healing and its rising popularity among athletes are major factors driving market demand.

The forecasted growth reflects a rising recognition of hyperbaric oxygen therapy’s benefits and an expanding market as more individuals and healthcare facilities adopt these advanced treatment technologies.

Despite having a promising future, the hyperbaric oxygen therapy equipment market faces some challenges. One significant obstacle is the high initial cost of setting up hyperbaric chambers and related equipment. The high cost associated with hyperbaric oxygen therapy facilities limits their adoption, especially in underfunded healthcare facilities. Furthermore, the widespread use of hyperbaric oxygen therapy devices is hindered in some regions by stringent regulatory requirements and restrictive payment practices. These issues need to be fixed in order to ensure that a wider spectrum of patients can get therapy and to completely reap the benefits of HBOT.

Using cutting-edge digital technology is one of the biggest developments in the hyperbaric oxygen therapy device market. Hyperbaric chambers equipped with Internet of Things connectivity and remote monitoring features enable medical professionals to quickly modify treatment parameters and monitor patients’ progress. Artificial intelligence and machine learning are now being researched as ways to improve hyperbaric oxygen therapy’s accuracy and efficacy. Additionally, because of its ease of use and versatility, portable hyperbaric oxygen therapy equipment is increasingly being used for home-based treatments.

Key Companies Profiled:

ETC BioMedical Systems
Fink Engineering Pvt. Ltd.
Gulf Coast Hyperbarics Inc.
HAUX-LIFE-SUPPORT GmbH
Hearmec Co. Ltd.
Hyperbaric SAC
IHC Hytech B.V.
OxyHeal Health Group
Sechrist Industries, Inc.
SOS Medical Group, Ltd.

Key Segments Covered in the Hyperbaric Oxygen Therapy Devices Industry Analysis:

By Type of Products:

Mono-place HBOT Devices
Multi-place HBOT Devices
Topical HBOT Devices

By Application:

Wound Healing
Decompression Sickness
Infections
Gas Embolism
Others

By Region:

North America
Europe
Asia Pacific

A Old Full – Report Analysis

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Companion Animal Drugs Market Expected to Grow to USD 59.2 Billion by 2033, Driven by 4.4% CAGR

The global companion animal drugs market is on a growth trajectory, with forecasts indicating an expansion to a market valuation of USD 59.2 billion by the end of 2033. This growth is supported by a compound annual growth rate (CAGR) of 4.4%, up from the USD 36.7 billion recorded in 2022.

Key Takeaways:

Market Valuation: The companion animal drugs market is projected to grow from USD 36.7 billion in 2022 to USD 59.2 billion by 2033.
Growth Rate: The market is anticipated to expand at a CAGR of 4.4% over the forecast period.
Drivers of Growth: Increasing pet ownership, advancements in veterinary medicine, and a rising focus on animal health and wellness are key factors fueling this market expansion.

This promising outlook highlights the growing importance of pharmaceuticals in the care and health management of companion animals, reflecting a heightened focus on enhancing the quality of life for pets globally.

Increasing Urbanization and Growing Affluence in Developing Countries to Benefit the Market
Increasing urbanization level and growing affluence, especially in developing countries, have been driving the adoption of pets, thus leading to increased demand for healthcare products for pets such as companion animal drugs. Continued urbanization has also resulted in increasing prevalence of various diseases such as allergies, lower appetite, reduced energy and behavioral anxieties among small companion animals. This has been driving the demand for innovative classes of medicines such as companion animal drugs.

Upcoming Therapeutic Innovations in Pet Care to Aid Market Growth
Besides traditional drugs, animal health companies have also been investing in smart diagnostic care to help prevent diseases before the actual onset. Companies are also trying to develop generic capabilities to demonstrate bioequivalence to reference prescription drugs in the companion animal drugs market, as many key drugs no longer benefit from intellectual property protection. The development of new vaccines and medications for animals are expected to support the growth of the companion animal drugs market over the forecast period.

Increasing R&D activities and shorter drug-lifecycle are playing an important role in the growth of the companion animal drugs market. Innovations in companion animal drugs are easier and sustainable for a longer period of time, while R&D cycle time are shorter (~ three years) in the Companion Animal Healthcare (CAH) industry as compared to human health, ranging between seven and 15 years for other drugs. This increases return on investment in companion animal drugs and leads to faster profits for the market players.

Collaborative Ventures to Promote the Companion Animal Drugs Market Growth
Collaborative ventures such as One Health promotes unification of veterinary and medical sciences, leading to better disease surveillance, control and education, especially for companion animals such as dogs and cats. One Health venture enables identification of alteration in infection travelling patterns. The patterns are changing mostly in case of parasites due to change in climate and increasing host-vector interactions. Some organizations helping in monitoring of One Health in companion animals are Companion Animal Parasite Council and European Scientific Counsel Companion Animal Parasites.

Such ventures are expected to complement the growth of the companion animal drugs market.

Low Awareness of Animal Diseases to Hamper the Companion Animal Drugs Market Growth
In many developing countries, people lack awareness regarding certain serious companion animal diseases as opposed to livestock diseases, which are more regularly monitored. This is primarily true with regards to pet vaccinations, which is a mandatory requirement for up to three years. Additionally, parasitic medications for companion animals and livestock are different. Lack of awareness with regards to differentiation of these medication varieties leads to adverse drug side effects and thus low administration of companion animal medications. Such factors are likely to create a hindrance in the growth of the companion animal drugs market.

Also, majority of animal healthcare drugs have limited scope for patent extension, primarily due to drug portfolios dominated by drugs that have crossed maturity, which in turn is expected to deter the growth of the companion animal drugs market over the forecast period.

Competitive Landscape

Extensive mergers and acquisitions, product portfolios, geographical expansions, and collaborative research initiatives are some of the strategies undertaken by the leading players. Established players in this market have made alliances with different companies to increase their market reach and social media presence. Some well-established players in the US companion animal drug specialty market are:

Merck Animal Health
Elanco
Zoetis
Vetiquinol S.A.
Virbac, Inc.
Norbrook Inc.
Dechra Pharmaceuticals
Patterson Companies, Inc.
Vedco Inc.
Covetrus
MWI Animal Health
Nutramax Laboratories Veterinary Sciences, Inc.
Ellevet Sciences

Recent Developments

In 2017, Zoetis emerged as a leading player with the highest share of compassion animal specialty drugs, as the company has a considerable and significant market presence, a diverse portfolio of product offerings, and an acute strategic perspective which includes M&As, such as the acquisition of Abaxis in 2018.

In July 2019, Zoetis and Colorado state university made an agreement to establish a research lab for the development of immunotherapies for veterinary patients.
In August 2020, Elanco Animal Health Incorporatedannounced that it has acquired Bayer Animal Health. The transaction was valued at USD 6.89 billion. This development helped the company to expand itself in the durable animal health industry.

Key Players in the Companion Animal Drugs Market:

Zoetis Inc.
Merck & Co, Ltd.
Bayer AG
Elanco
Boehringer Ingelheim GmbH (Merial)
Virbac Animal Health
Ceva Santè Animale

Key Segments Covered in Companion Animal Drugs Industry Research

Product:

Antibiotics
Anti-inflammatory
Parasiticides
Heartworm
Behavioral Products
Nutritional Products
Skin Care Products
Vaccines

Distributional Channel:

Veterinary Hospitals
Veterinary Clinics
Pharmacies and Drug Stores

Region:

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

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Global Automated CPR Device Market Expected to Surge to USD 255.7 Million by 2034, Growing at a 5.4% CAGR

The global automated CPR device market is set for substantial growth over the next decade. Valued at approximately USD 150.6 million in 2024, the market is projected to expand to USD 255.7 million by 2034. This significant growth is driven by a compound annual growth rate (CAGR) of 5.4% throughout the assessment period.

The anticipated surge in market value is driven by the increasing incidence of cardiovascular diseases (CVD), which have become a leading cause of mortality worldwide. The global death rate due to CVD has escalated significantly, rising from 28.9% in 1990 to 36.3% in 2020. In that year alone, 19.8 million deaths were attributed to cardiovascular diseases, underscoring the urgent need for effective resuscitation technologies.

The need for automated CPR equipment has increased dramatically as a result of technological developments and growing public awareness of the importance of precise and efficient CPR. Modern devices have intelligent algorithms that adapt to the specific characteristics of the patient’s chest, optimizing compression depth and pace to improve circulation. Furthermore, these devices often come with integrated feedback mechanisms that ensure appropriate CPR administration and support medical practitioners instantly.

The global healthcare systems are under increasing pressure due to the rising prevalence of heart attacks and sudden cardiac arrests. Automated CPR machines have become essential pieces of equipment in emergency rooms, hospitals, and ambulances because they can begin the resuscitation process quickly, providing the patient critical time.

Key Takeaways:

In the historical period, the market captured a valuation of US$ 99.02 million in 2022.

The United States is estimated to dominate the global market by capturing a huge global market share by 2033.

Based on end-user, ambulances are leading the global market by securing a maximum share during the forecast period.

Competitive Landscape:

The automated CPR market is highly consolidated owing to the presence of regional and global market players. Key market players worldwide are employing inorganic market strategies to expand their global foothold.

Inorganic strategies include strategic mergers and acquisitions and allying with regional distributors to strengthen their supply chain channels. They are also emphasizing faster product approvals, product development, and patenting. New market entrants focus on new product launches to establish their market presence.

Other Key Players in the Global Market are:

SunLife Science Inc.
ZOLL Medical Corporation
Michigan Instruments
Physio Control Inc.
Brunswick Biomedical Technologies
Zhuhai Kindway Medical Science & Technology Co. Ltd
CPR Medical Devices Inc.
Medtronic Inc.

Recent Developments in the Global Market:

Michigan Instruments launched a hand-free automatic CPR device that is lightweight, portable, and helps smooth the transition from manual CPR to automated compressions.
ZOLL Medical Corporation introduced a new automated CPR devices system, ‘Autopulse,’ which assists EMS personnel in providing high-quality chest compressions in cramped spaces and steep down stairwells.
A new automated CPR device has been launched by Cintas, which assists healthcare professionals by providing real-time CPR feedback and monitoring, enhancing the survival rate of patients.

Automated CPR Devices Market by Category:

By Power Source:

Pneumatically Driven CPR Devices
Battery-driven CPR Devices
Mechanically Actuated And Battery-driven CPR Device

By Device Type:

Piston Devices
Load Distribution Devices
3D Compression Devices

By End User:

EMS
Hospitals
Ambulances
Coronary & Intensive Care Units
Cardiac Catheterization Labs
Air Med-Evac Units
EMT Rescue Units
Others

By Region:

North America
Latin America
Europe
Asia Pacific
The Middle East and Africa

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High Content Screening Market Set to Reach USD 1.6 Billion in 2022, Forecasted for 5.8% CAGR Growth

The high content screening market is on track for substantial growth, with projections indicating a valuation of USD 1.6 billion in 2022. Driven by increasing demand and technological advancements, the market is expected to expand at a robust compound annual growth rate (CAGR) of 5.8%.

High content screening technologies, which are pivotal for advanced cellular analysis and drug discovery, are witnessing a surge in demand. This uptick is driven by the increasing adoption of HCS in various applications, including cancer research, drug development, and personalized medicine. The expansion of the market is also fueled by technological advancements and the growing emphasis on high-throughput screening methods that enhance research efficiency and efficacy.

Finding and developing new drugs involves the use of high content screening. The increasing amount of research being done on target identification and validation, along with the ongoing quest for new drug candidates, is predicted to drive an acceleration in the adoption of high content screening over the next few years. Furthermore, it is projected that demand will rise over the course of the projection period as a result of a continued emphasis on manufacturing high-quality and technologically advanced cell imaging systems.

Nevertheless, the COVID-19 pandemic significantly impeded investigations and advancements. The market is anticipated to suffer as a result of this. However, it is anticipated that the market will grow in the upcoming years due to a rise in the amount of money major manufacturers are investing in the creation of cutting-edge cell imaging products.

Key Takeaways

The CAGR for the global market over the preceding period was 5.1%.
Over the coming decades, the market in India is anticipated to grow at a CAGR of 6.6%.
With more than 7.3% of all demand recorded in Europe in 2022, Germany has emerged as a major market.
Over the coming decade, the market in China is anticipated to grow at a CAGR of 7.8%.
The highest demand for High Content Screenings came from the pharmaceutical and healthcare industries.

“The rising prevalence of multiple infectious diseases with a variety of symptoms raises the demand for innovative treatments. As a result, there will be an increase in biotechnology and pharmaceutical study and development efforts to identify new drug candidates. Imaging technologies are becoming increasingly important in drug discovery and analysis.” says an FMI analyst.

Competitive Landscape:

Key players in the HCS market employ strategies such as mergers and acquisitions, product launches, collaborations, and alliances to expand their businesses.

Particle Works, a progressive company that creates and markets cutting-edge particle engineering platforms, declared the release of the Automated Library Synthesis (ALiS) System, a new ground-breaking platform, in November 2022. This innovative platform favors automation in the early stages of the creation of drugs as well as high-throughput evaluation of lipid nanoparticle (LNP) formulations and mRNA candidates.
The Twist High Throughput Antibody Production platform, developed by California-based Twist Bioscience Corporation, was made public in April 2022. It allows customers to convert candidate genetic sequences into cleansed antibodies for use in a variety of applications related to screening and therapeutic discovery projects.

Key Companies Profiled:

Thermo Fisher Scientific Inc.
Becton Dickinson, and Company
GE Healthcare
Olympus Corporation
PerkinElmer Inc.
Sysmex Corporation
Merck KGaA
Danaher Corporation
Yokogawa Electric Corporation
BioTek Instruments Inc.

Key Segments Profiled in the High Content Screening Industry Survey:

Product Type:

Cell Imaging & Analysis
- HCS Instruments
  - High-End HCS
  - Mid End HCS
  - Low-End HCS
- Flow Cytometers
Consumables
- Microplates
- Reagents & Assay Kits
- Other Consumables
Software
Services

Industry:

Pharmaceutical & Healthcare
Biotechnology
Educational Institutions
Independent CRO
Government Organizations
Others

Application:

Primary & Secondary Screening
Target Identification & Validation
Toxicity Studies
Compound Profiling
Others

Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

A Old Full – Report Analysis

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T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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