Market Research Blog – Page 1398 – New Product Development

Glycolic Acid: Driving Growth Across Personal Care, Pharmaceuticals, and Electronics Sectors

The global glycolic acid market (marché de l’acide glycolique) is anticipated to experience substantial growth, with its size expected to rise from USD 456.4 million in 2022 to USD 764.8 million by 2032. This expansion reflects a robust compound annual growth rate (CAGR) of 5.3% over the decade. Driving this upward trajectory are increasing applications in industries such as cosmetics, where glycolic acid’s exfoliating properties are highly valued, as well as its growing use in various chemical and industrial processes. This market momentum highlights a strong and sustained demand for glycolic acid across multiple sectors.

Burgeoning demand from various end-use industries such as textile, pharmaceutical, personal care, and chemicals, is augmenting growth in the glycolic acid market. Over the years, glycolic acid has become a commonly used substance across various industries due to its multifunctional features.

For instance, in the food industry, glycolic acid is used as a flavoring agent and preservative, in the textile industry as a dye and tanning agent, and in the pharmaceutical sector as a skin care product. It is often used in solvents, emulsion polymers, and additives for paints and ink to improve flow qualities and impart gloss.

Glycolic acid is also used in plastics and adhesives. It is a component of products used for treating surfaces that raise the coefficient of friction on tile floors. It is also the primary component of the household cleaning solution called Pine-Sol. Hence, growing application area of glycolic acid will continue to elevate demand in the global market.

Growing awareness of the advantages of glycolic acid compared to alternatives, increasing spending by numerous companies on research and development, and accelerating industrialization are expected to boost the global market.

Subsequently, rising usage of glycolic acid in skincare products to treat various skin disorders and increasing focus on technological advancement and modernization of production techniques will further aid in the expansion of the worldwide glycolic acid industry.

“Consistently growing demand from various end-use industries, particularly from the textile, and pharmaceutical industries, are expected to boost glycolic acid market over the projection period,” says a lead FMI analyst.

Key Takeaways from Glycolic Acid Market Study

The global market of glycolic acid is estimated to witness a CAGR of 5.3% on a value basis during the forecast period.
By source, natural glycolic acid segment is likely to generate maximum revenues throughout the forecast period.
Based on end use, the chemicals segment is estimated to create an incremental $ opportunity of about US$ 143.4 million between 2022 and 2032.
Europe and North America are expected to cumulatively hold around 48.8% of the overall market share.
The USA is a prominent importer of glycolic acid with an estimated import volume of 6,156 tons of glycolic acid.
Japan’s glycolic acid market is forecast to accelerate at 4.6% CAGR between 2022 and 2032.

Who is Winning?

The market of glycolic acid is estimated to be a consolidated market, where key players are expected to account for a key share of the market. Some of the top manufacturers include The Chemours Company, Zhonglan Industry Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., Siddharth Chlorochem Pvt. Ltd., Penta International Corporation, Connect Chemicals, Charkit Chemical Company LLC, Beijing LYS Chemicals Co., Ltd., Haihang Industry Co., Ltd., CrossChem LP, and Spectrum Chemical Manufacturing Corp.

Key players are focusing on increasing their production capacity to enhance their market footprint all over the globe and to gain traction in the market. Further certain key players are focusing on investing in glycolic acid production owing to a significant increase in the demand from the various end-use industries.

Glycolic Acid Industry Segmentation

By Product Grade:

Technical Grade
Pharma Grade
Industrial Grade

By Source:

Natural
Synthetic

By End Use:

Personal Care
Chemicals
Oil & Gas
Textile
Pharmaceuticals
Agriculture
Electronics
Others

Glycolic Acid Market Growth: Key Trends and Applications Across Personal Care, Pharmaceuticals, and More – Access the Complete Report for Details!

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. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Advancements in Bonded Abrasives: How Resin-Bonded Grinding Wheels Enhance Automotive Production

Over the projected period from 2022 to 2032, the global bonded abrasives market (mercado de abrasivos aglomerados) is expected to grow at an impressive compound annual growth rate (CAGR) of 5%. The use of bonded abrasive materials in construction projects, which include residential, commercial, and infrastructure projects, is expected to grow rapidly, driving up demand for these materials worldwide.

An abrasive is a type of material that when rubbed against a surface, tends to produce the desired surface’s finish and shape. Abrasives are usually such types of minerals that are often available in a huge range of shapes, sizes, and types. The abrasives material or the abrasives products are known to find various applications in various industries such as electrical & electronics, machinery, metal fabrication, and transportation among others.

The bonded abrasives are usually utilized to clean, grind, scour, abrade or remove the solid material usually by using impact or by rubbing action. Abrasives are mainly classified as bonded abrasives, steel abrasives, coated abrasives, rubber bonded abrasive wheels, loose abrasives grain, resin grinding wheel, and raw super abrasives, among other classifications.

Key Takeaways

The rising demands for advanced technology-based pieces of machinery are anticipated to bolster the demand for bonded abrasives market over the projection period. In addition to that, the growing automobile industry is expected to fuel the overall growth of the bonded abrasives market globally.
Resin grinding wheels are known to be widely utilized in giving the required surface finish along with the desired design to automobiles. In addition to that, bonded abrasives can either be natural or synthetic abrasive grains that are usually known to get bonded into a solid form. Furthermore, bonded abrasives are usually made of abrasive grains that are closely sized and molded or pressed to produce a wide variety of products.
Resin-bonded grinding wheels usually come in the shape of a wheel. The product range of the resin-bonded grinding wheels also comprises the snagging wheel, mounted wheel, grinding and the cut-off wheel, cones, and plugs.
Resin grinding wheels are primarily utilized for precision grinding, cutting, rough grinding, lapping, sharpening and light grinding among others. In addition to that, the increasing utilization of vitrified bonded grinding wheels for de-scaling and dust removal will upkeep the overall growth of the bonded abrasives market.
The rubber-bonded abrasive wheel helps in the superfinishing of the machine shaft to achieve the required roughness. The resin grinding wheels are used in providing a smooth finish to the various tools and the pieces of machinery that are manufactured.
The rubber-bonded abrasive wheel is utilized in the polishing as well as deburring of the boreholes on the machine blocks. Regular maintenance of the workshops further boosts the overall demand for the bonded abrasives market.
Vitrified bonded grinding wheels are also widely utilized in the medical sector. Vitrified bonded grinding wheels are used to sharpen dental tools.
The bonded abrasives are also utilized for smoothening the edges of the dental tools such that it is extremely convenient for doctors to use the dental tools on patients. The bonded abrasives market segment accounts for the largest share of the global abrasives market.

Competitive Landscape

The dominant players in the global bonded abrasives market are focusing on diversifying their end-use abilities by concentrating on research and development activities. In addition to that, key market players are meticulously working towards mergers and acquisitions to cater to the diverse customer base. Furthermore, technological advancements are making it possible for dominant companies in the global landscape to diversify the application of bonded abrasives which can lead to higher sales over the forecast period.

Top Key Players

3M
Marrose Abrasives
Saint-Gobain
SAK ABRASIVES LIMITED
Carborundum Universal Limited

More Insights into the Bonded Abrasives Market

The Asia Pacific region comprises the largest construction market, followed by India, China, and several Southeast Asian countries. Housing for All by 2022, a program announced by the Indian government, is likely to have a substantial influence on the residential building bonded abrasives market in India throughout the forecast period.

North American region is anticipated to be the largest shareholder in the bonded abrasives market. The growing demand especially in the U.S. is expected to boost the growth of the global bonded abrasives market.

Automobile Industry Growth Fuels Surge in Bonded Abrasives Market: Explore the Full Report for Detailed Insights!

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Rising Demand for Quercetin: Market Expected to Grow to USD 3,968 Million by 2032 at a 12.4% CAGR

According to Future Market Insights, the global sales of quercetin are estimated to reach a valuation of USD 3,968 Million by 2032, exhibiting a 12.4% CAGR throughout the projection period. The total quercetin market is currently valued at USD 1,296 Million.

Rising adoption of quercetin across diverse industries including dietary supplement, pharmaceutical, and food & beverage due to its antimicrobial and anti-inflammatory properties is a key factor expected to boost the global quercetin market during the forecast period.

Recent trends have indicated that consumers are increasingly looking for organic ingredients in their daily lives. As a result, demand for natural ingredients like quercetin is skyrocketing.

Similarly, rising health awareness as well as the increasing acceptance of functional foods and supplements is expected to boost the quercetin industry over the projection period.

As people are becoming aware of the harmful impact of artificial preservatives in food and beverage products, they are opting for products containing natural preservatives. This has prompted manufacturers to utilize healthy ingredients like quercetin in their products, thereby aiding in the expansion of the global quercetin market

Additionally, growing usage of quercetin in pharmaceuticals due to its various health benefits will create lucrative opportunities for manufacturers during the forthcoming decade. Hence, leading quercetin manufacturers are ramping up their production capacities, launching new products, and employing novel and cost effective production techniques.

Key Takeaways from Market Study

Global quercetin sales are projected to grow at a CAGR of 14.3% between 2022 and 2032.
By end user, the food & beverage industry holds a substantial share of the global quercetin market.
Based on nature, the organic segment is likely to grow at a higher CAGR during the assessment period.
Demand for quercetin in Japan is expected to grow at 11% CAGR during the forecast period.
China’s quercetin market is expected to grow at a CAGR of 12% between 2022 and 2032.
The quercetin market in India is projected to expand at 14.3% during the forecast period.

Competitive Landscape

Key players in the market include King herbs Ltd, Natural Anhui Biotechnology Co. Ltd., Xi’an Tianuri Biotech Co. Ltd., Natrol Llc., and Hengyang Densen Biotechnology co. ltd., Xi,anFrankherb Biotech Co. Ltd., Nanjing Zelang Medical Technology Co. Ltd., NOW Health Group Inc., Bluebonnet Nutrition Corporation, Wuxi Gorunjie Natural Pharma Co. Ltd., Oregon’s Wild Harvest Ltd., and Source Naturals Inc.

Companies are employing several key strategies to expand their customer base and strengthen their market position, including launching new products, investing in research and development (R&D), expanding facilities, and pursuing mergers, acquisitions, partnerships, and collaborations.

Some of the recent developments are given below:

In 2022, ALPS Pharmaceutical Ind. Co., Ltd. launched Eubioflavonoid, a water-soluble quercetin delivery composition derived from Sophora Japonica. The new product can deliver more quercetin to the body in a smaller dose.
In 2022, Taiyo launched SunActive IsoQ, a water-soluble form of quercetin precursor that is many times higher than free quercetin.
In 2022, Natrol and Jarrow, two leading vitamin and supplement brands, combined to pave the way for a new company called Vytalogy Wellness.

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Quercetin Industry by Category

By Product:

Liquid
Powder

By Nature:

Organic
Inorganic

By End User:

Food & Beverage Industry
Pharmaceutical
Dietary supplement
Nutraceutical

By Sales Channel:

Stored -based retailing
Modern Grocery Store
- Convince store
- Discounters
- Hypermarket
- Supermarket
Traditional Retailers
- Food specialist
- Independent small Grocer
- Other Grocers
Online Retailing /Delivery
Direct Sales

By Region:

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

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Port Wine Market to Surge, Projected to Hit USD 2.01 Billion by 2032 with an 8.1% CAGR

Picture background

The wine industry has experienced an overall decline, even though the premium wine segment has grown substantially, signaling potential growth in the port wine market. Increased awareness of the nutritional benefits of port wines and the presence of the antioxidant resveratrol in these beverages are expected to boost demand for port wines.

The global port wine market is set to witness a significant CAGR of 8.1% and is anticipated to reach a valuation of around USD 2,011.9 Million by 2032.

The major factors influencing the expansion of the port wine market are consumer alcohol trends. Consumers are trying various types of alcohol, particularly craft beer, whiskey, and premium wines.

Port wine is less acidic, which acts as an important factor for the growth of the port wine market, as consumers who favor less acidic liquors have shown a preference for port wine.

Increasing awareness about the unidentified health benefits of port wine, such as the presence of the antioxidant resveratrol, through social media platforms and communication technology, is also expected to propel the port wine market’s growth.

Nowadays, consumers are more concerned about the process of production and origin of specific alcohol; thus, instructional marketing is a strategy to help the port wine market share growth. The introduction of new flavors, such as cinnamon, raspberry, chocolate, caramel, and others, result in enormous growth opportunities for the port wine market.

As the world’s largest wine consumer, the United States continues to be a focus for many global port wine makers. Due mostly to the rise of upper-middle-class urban customers, the Indian port wine market has emerged as the most rapidly growing alcoholic beverage category in the past ten years.

Key Takeaways from Market Study

The market is segmented based on nature, wherein the red port wine is anticipated to account for a significant global port wine market share in 2022.
White wine is expected to witness a lucrative growth rate of 9.2% during the forecast period.
The European port wine market is anticipated to dominate the global market, with a share of around 34.2% in 2022.
South Asia is expected to witness a lucrative growth rate in the port wine market during the forecast period.
On the basis of sales channels, the liquor store is expected to hold a dominating port wine market share in 2022, but the online retail store is expected to witness a lucrative growth rate over the forecast period.
Based on product type, tawny port wine is dominating the global port wine market in 2022.

“The port wine manufacturers are primarily focusing on investing in promotional and advertising activities to increase the sales in specific regions, such as South Asia and East Asia,” says a Future Market Insights analyst.

Competitive Landscape

In order to increase revenue and generate sales from regions such as the Middle East and Africa, the companies are focusing on reaching consumers in several untapped markets. There are several regions where premium port wines from other countries are exported. This raises the price of premium products, reducing sales in these regions.

Symington Family, La Martiniquaise, Sogrape, Fladgate Partnership, Sogevinus, A ACálem, C N Kopke, Cockburn Smiths &CompanhiaLda, Delaforce Sons & Companhia, Martinez Gassiot, Vinhos SA, Ramos Pinto, Warren & Companhia, SA, Wiese & Krohn, Sucrs, Lda, and Others are the major participants in the port wine market.

Recent Developments:

In 2020, Premium Port Wines, the US importer for leading Port producer Symington Family Estates, is pleased to announce the launch of Fine and Vintage Wines, an online retail store offering the finest Ports, Madeiras, and Douro table wines direct from the producers’ cellars in Portugal.
In 2021, Taylor’s launched a digital campaign to coincide with the ‘Port season’ of fortified wine-drinking occasions, which includes Halloween, Bonfire Night, Christmas, and New Year’s Eve.

Complete Market Review: A Full Report Analysis

Port Wine Market by Category

By Nature:

Red Wine
Port Wine

By Product Type:

Ruby]
Tawny
Vintage
Rose
Others

By Sales Channel:

Modern Trade
Restaurants & Bars
Tasting Rooms
Online Retail Stores
Travel Retail Stores

By Region:

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

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global port wine market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on the nature (red wine and white wine), by product type (ruby, tawny, vintage, rose, and others), by sale channel (liquor stores, modern trade, restaurants, and bars, tasting rooms, online retail store, and travel retail stores), across seven major regions of the world.

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Expanding Plant-Based Eggs Sector: Forecasted Market Value of USD 684.3 Million by 2033, Driven by 18.7% CAGR

The global plant-based eggs market is projected to reach USD 122.8 million in 2023 and grow to USD 684.3 million by 2033. Demand for plant-based eggs is anticipated to increase at a robust 18.7% CAGR, with the United Kingdom, the USA, China, and India emerging as key producers in this sector.

Companies are ramping up their investment in research and development to produce plant-based egg products that closely replicate the taste and texture of traditional eggs. Additionally, some companies are experimenting with innovative ingredients like peas, soy, and legumes to enhance the authenticity and flavor of their plant-based egg offerings.

In recent years, there has been a notable increase in health-conscious and vegan consumers. The growth in both product offerings and distribution channels is promising for the market’s future expansion.

Eggs, known for their high protein content, play a crucial role in maintaining adequate protein levels, and the expanding fitness industry offers significant opportunities for suppliers. However, finding a vegan alternative that matches the protein content of traditional eggs has been challenging. This has created a lucrative market for plant-based eggs, which are increasingly approaching the protein levels of real eggs. Additionally, the current surge in interest in animal-derived products has temporarily heightened demand.

Key Takeaways

The plant-based eggs market is driven by growing health consciousness, environmental concerns, economic factors and technological advancements.
The market is expected to grow due to an increase in the number of people adopting a vegetarian or vegan lifestyle, food allergies and intolerance, and government initiatives.
The plant-based eggs market is highly competitive, with many players operating globally, and is dominated by a few large players with a wide product portfolio and a strong distribution network.
Companies are focusing on product innovation, research and development, strategic partnerships and marketing and advertising to increase consumer awareness and expand their market share.

Competitive Landscape

The plant-based eggs market is a highly competitive market with many players operating globally. The market is dominated by a few large players, with a significant number of small and medium-sized enterprises also present. The large players have a strong market presence, a wide product portfolio and a strong distribution network, which allows them to dominate the market. Some of the top companies in the market are Just Egg, Beyond Eggs, Follow Your Heart, The Veggie Goodness, Good Catch, Nellie’s Free-Range Eggs, Hampton Creek, and Better Body.

These companies are concentrating on product innovation, research and development, and strategic partnerships to enhance their market share. They are also investing in marketing and advertising to boost consumer awareness and attract new customers. Furthermore, expanding distribution networks and entering new regions are key strategies for increasing market presence.

At the same time, new entrants are emerging in the plant-based eggs market, focusing on developing innovative products and expanding their reach through strategic alliances and collaborations. This influx of new players is anticipated to heighten competition and drive further innovation within the industry.

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Key Segments

Product type:

Tofu
Legume-based
Pea-based

Distribution channel:

Supermarkets
Grocery stores
Online

Region:

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

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Global Primary Sclerosing Cholangitis Market Set for Significant Growth, Expected to Reach USD 314.26 Million by 2033

The global market for primary sclerosing cholangitis (PSC) is poised for remarkable expansion, with projections indicating a valuation of USD 314.26 million by 2033. This robust growth, driven by a notable compound annual growth rate (CAGR) of 7.6% from 2023 to 2033, highlights the increasing focus on addressing liver diseases and the rising trend of alcohol consumption.

In 2023, the PSC market was valued at USD 151.07 million. The anticipated growth is fueled by heightened awareness of PSC, coupled with significant advancements in diagnostic techniques and treatment modalities. These factors are expected to drive the market’s promising trajectory in the coming years.

PSC is a chronic liver disease marked by inflammation and scarring of the bile ducts within the liver, often leading to severe complications such as cirrhosis and liver failure. The rising incidence of liver disorders, combined with an increasing emphasis on early detection and intervention, underscores the critical need to address the unmet needs within the PSC landscape.

As the global healthcare community continues to focus on improving diagnostic and therapeutic approaches, the PSC market is set to experience substantial growth. This upward trajectory reflects the concerted efforts to manage and treat this challenging liver condition more effectively.

Key factors propelling the PSC market growth:

Rising incidence of liver diseases: PSC is an autoimmune disease that affects the bile ducts in the liver. The increasing prevalence of liver diseases, such as non-alcoholic fatty liver disease (NAFLD) and hepatitis C, is expected to fuel the demand for PSC diagnosis and treatment.
Growing alcohol consumption: Excessive alcohol consumption is a known risk factor for developing PSC. The rising trend of alcohol consumption, particularly in developing countries, is projected to contribute to the market growth.
Technological advancements: Advancements in diagnostic techniques, such as magnetic resonance cholangiopancreatography (MRCP) and endoscopic retrograde cholangiopancreatography (ERCP), are enabling earlier and more accurate diagnosis of PSC. Additionally, the development of new and effective treatment options, such as ursodeoxycholic acid (UDCA) and fibroblast growth factor (FGF) inhibitors, is expected to improve patient outcomes and drive market expansion.

Key Takeaways:

The PSC market is expected to grow significantly over the next decade, driven by factors such as the increasing prevalence of PSC, rising awareness of the disease, and growing R&D investment.
The ursodiol drug type segment is expected to account for the largest share of the PSC market during the forecast period. This is due to the fact that ursodiol is the only FDA-approved drug for the treatment of PSC.
The off-label drugs segment is expected to account for the largest share of the PSC market based on treatment type during the forecast period. This is due to the fact that there are a number of off-label drugs that are used to treat PSC, such as budesonide and obeticholic acid.
North America is expected to account for the largest share of the PSC market based on region during the forecast period. This is due to the high prevalence of PSC in North America and the availability of advanced treatment options.

Understand the Surge in Primary Sclerosing Cholangitis (PSC): Our Comprehensive Report Offers Essential Trends and Insights!

Primary Sclerosing Cholangitis (PSC) Market: Competition Analysis

The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Primary Sclerosing Cholangitis (PSC) market. Competitive information detailed in the Primary Sclerosing Cholangitis (PSC) market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Primary Sclerosing Cholangitis (PSC) market report.

Key players covered in the report include:

Acorda Therapeutics, Inc.
Gilead Sciences, Inc.
NGM Biopharmaceuticals, Inc.
Intercept Pharmaceuticals, Inc.
Dr. Falk Pharma GmbH
Allergan Plc.
Shire Plc.
Durect Corporation
Conatus Pharmaceuticals, Inc.
Sirnaomics, Inc.
Shenzhen HighTide Biopharmaceutical Ltd

Key Segments Covered in the Primary Sclerosing Cholangitis (PSC) Industry Analysis:

Primary Sclerosing Cholangitis (PSC) Market by Drug:

BTT1023
GS-9674
NGM282
OCA
Cenicriviroc
LUM001
DUR928
norUDCA
HTD1801
IDN-7314
STP705

Primary Sclerosing Cholangitis (PSC) Market by Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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Global Postoperative Pain Market Set for Remarkable Growth, Projected to Surpass USD 63.8 Billion by 2033

The global postoperative pain market is on a trajectory for impressive growth, with projections indicating it will exceed USD 63.8 billion by 2033. This significant expansion marks a substantial increase from its estimated value of USD 38.43 billion in 2023. The market is anticipated to grow at a robust compound annual growth rate (CAGR) of 5.2% throughout the forecast period.

Postoperative pain management encompasses a wide array of pharmaceuticals and medical devices designed to alleviate and control pain experienced by patients after surgical procedures. As postoperative pain remains a critical concern for individuals undergoing surgery, effective pain management strategies have become more essential than ever. These strategies not only enhance patient comfort but also expedite recovery and improve overall clinical outcomes.

The surge in the postoperative pain market is fueled by advancements in medical technology and pharmaceuticals. Innovations in pain management therapies, coupled with a growing volume of surgical procedures worldwide, are driving the demand for more efficient and effective pain relief solutions. The increasing emphasis on patient-centric care and enhanced clinical outcomes further accelerates the need for advanced postoperative pain management strategies.

The projected growth underscores the importance of ongoing research and development in this vital field. Healthcare providers and industry stakeholders are urged to prioritize the creation and deployment of innovative pain management solutions to meet the escalating demand and elevate patient care on a global scale.

Key Takeaways from the Postoperative Pain Market:

By 2022, the United States is predicted to hold 87.9% of the market for postoperative pain in North America. It is anticipated that the adoption of opioid treatment will slow the opioid epidemic’s spread across North America, especially in the United States.
Germany is projected to account for 26.9% of the postoperative pain market in Europe in 2022.
The postoperative pain market in South Korea is projected to expand at a 6.3% CAGR during the forecast period due to the nation’s rising surgical rate.
Opioids are typically provided for postoperative pain in Japan, however, due to an increase in opioid use for non-medical purposes, regulating authorities are encouraging doctors to prescribe non-opioid drugs, which presents a chance for firms to introduce unique non-opioid drugs.
The opioid drug class is expected to increase at a 4% CAGR throughout the projection period, accounting for a sizeable share of 61.3% in 2022.
In terms of route of administration, oral postoperative pain is predicted to hold 37.8% of the market in 2022.

What is the Competition Scenario of the Postoperative Pain Market?

The main strategy used by major suppliers of postoperative pain medications for the development of new product lines of pain medications is the collaboration and acquisition of other pharmaceutical companies. As important stakeholders place more attention on the development of abuse-deterrent opioid medications and the introduction of extended-release non-opioid therapies for post-surgery pain, the demand for painkiller pharmaceuticals is rising. Similar to this, increased efforts to identify and commercialize non-narcotic drugs as well as raising public awareness of postoperative pain management are promoting market expansion.

Latest Developments in the Postoperative Pain Market:

Assertio Therapeutics, Inc. was acquired by Zyla Life Sciences in May 2020. As a result, a growing commercial pharmaceutical company was able to increase the number of drugs it offered for treating pain, inflammation, and neurology.
According to Heron Therapeutics, Inc., Health Canada announced in March 2022 the commercialization of ZYNRELEF (bupivacaine and meloxicam extended-release solution) for instillation into the surgical wound for postoperative analgesia following bunionectomy, open inguinal herniorrhaphy and total knee arthroplasty surgical procedures.
In March 2022, a Phase IIb trial on the perioperative long-acting analgesic drug CPL-01 was completed, and Cali Biosciences Co., Ltd., a biopharmaceutical company specializing in the discovery and development of innovative pharmaceuticals, reported favorable findings.

Full Report on Postoperative Pain: Explore the Latest Trends and Insights in Our Detailed Analysis!

Key Players in the Postoperative Pain Industry:

Novartis AG
Allergan plc
Teva Pharmaceutical Industries Ltd.
Mylan N.V
Pfizer Inc.
Purdue Pharma L.P
Janssen Pharmaceuticals, Inc.
Endo International plc
Pacira Pharmaceuticals Inc.
Egalet Corporation
GlaxoSmithKline Plc.

Postoperative Pain Industry Survey by Category:

By Drug Class:

Opioids
NSAIDs
Local Anesthetic
Acetaminophen

By Route of Administration:

Injectable
Oral
Topical
Transdermal
Others

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Drug Stores
Clinics
Others

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Rising Trends in Vegan Asian Food: Market to Achieve USD 30,806.3 Million by 2033 at 6% CAGR

The vegan Asian food market is projected to be valued at USD 18,196.8 million in 2023 and is expected to grow to USD 30,806.3 million by 2033. Demand for vegan Asian food is anticipated to increase steadily, with a compound annual growth rate (CAGR) of 6%.

As incomes in Asia rise, consumers have more disposable income to spend on food, a trend fueled by the region’s economic growth and development. With increased disposable income, people are more able to afford higher-priced food items, including meat, dairy, and processed foods. This shift is likely to boost demand for these products, as well as for premium and luxury food options.

Consumer preferences in Asia are shifting as individuals become more health-conscious and seek foods with lower sugar, salt, and fat content. This change is driven by heightened awareness of the connection between diet and health, along with the rising incidence of lifestyle-related conditions like obesity and diabetes. As consumers aim to maintain a healthy diet and prevent these ailments, there is growing demand for healthy and natural food options, such as organic and whole foods, as well as functional foods that offer specific health benefits. Consequently, companies that focus on producing these types of products may find substantial opportunities in this evolving market.

Government support is another key driver of the vegan Asian food market. Asian governments are investing in the food industry to boost production and enhance food security. This investment is likely to lead to increased funding, the development of new technologies and products, and job creation. Additionally, governments are implementing policies and regulations aimed at improving food safety and quality, which can foster innovation and advancements in these areas.

Innovation presents a significant opportunity in the vegan Asian food market. Companies have the chance to create new products and technologies that address evolving consumer preferences. This could involve developing innovative packaging materials, introducing unique flavors, or creating products tailored to specific consumer segments. The drive for innovation is fueled by the need to differentiate products and stand out in a competitive market.

Consumers are growing more concerned about the safety and quality of food products. This heightened awareness stems from the rising recognition of food-borne illnesses and the adverse effects of pesticides and chemical fertilizers on the environment. As a result, consumers are seeking food products that adhere to stringent food safety and quality standards.

Key Takeaways

The vegan Asian food market is growing at a fast pace due to increasing demand for plant-based products.
The market is driven by factors such as rising incomes, urbanization, and changing dietary habits.
Countries like China, India, and the United Kingdom are considered attractive markets for vegan Asian food.
The market is expected to see increased competition from both established food companies and startups.

Competitive Landscape

The competitive landscape of the vegan Asian food market is becoming more crowded, with an increasing influx of companies. Established food companies are broadening their product lines to include vegan options, while new startups are emerging with a focus on vegan Asian food products.

The vegan Asian food market is still emerging, with its startup ecosystem in the early stages of development. Despite this, several startups are gaining recognition by creating innovative vegan Asian food products, such as plant-based meat, dairy, and other protein alternatives. Notable examples include Impossible Foods, Beyond Meat, and Omnipork, known for their plant-based meat substitutes. Additionally, major food corporations like Nestlé, Unilever, and Tyson Foods are now entering the market, investing in research and development of plant-based protein solutions.

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Given Below are the Vegan Asian Food Market Segments

Alternative:

Fish Alternative
- Vegan Sashimi
- Vegan Unadon
- Vegan Daing
- Vegan Hitsumabushi
Crab Alternative
- Vegan Black Pepper Crab
- Vegan Gejang
- Vegan Chilli Crab
- Vegan Mitten Crab

Distribution Channel:

Direct Sales
Indirect Sales
- Specialty Stores
- Hypermarket/Supermarket
- Online Retail

Region:

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

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Exploring the Wood Coatings Market: Growth Drivers and Challenges in an Evolving Urban Landscape

The global wood coatings market (marché des revêtements pour bois) is expected to augment at a healthy CAGR of 5.9% throughout the forecast period from 2022 to 2032. The expansion of the wood coatings market is attributed to the growth of the housing market as spending on maintenance of decks, fences, flooring, and siding is rising. Furthermore, stringent regulations, increased competition, a rise in unique formulations, and new product advancements are some of the reasons driving the growth of the wood coatings industry.

Rapid urbanization in response to increasing development and population growth is predicted to increase housing demand on a huge scale. As a result, the demand for furniture such as chairs, tables, mattresses, sofas, shelves, and cupboards has risen exponentially, thereby surging the demand for wood coatings. Although, the availability of less expensive and higher-quality replacements, such as wood composites and plastic wood, may limit the wood coatings market’s growth. Furthermore, stringent regulations, rising competition, growth in unique formulations, and new product developments are some of the factors stimulating the growth of the wood coatings market.

In addition, the availability of cheaper and quality substitutes such as wood composites and plastic wood is likely to hamper the growth of the wood coatings market. Such alternatives are often more durable and require less maintenance in comparison to other wood products. Although several substitutes are available, wood is a primary choice for commercial and residential purposes for clear wood finish due to its wide availability in the market. Clear coat for wood accounts for most of the wood protection demand comprising paints and stains accounting for the largest shares. In contrast, preservatives, which are applied to lumber by wood treatment companies, account for a smaller portion of wood protection demand.

Key Takeaways

Wood coating applications comprise interior wood, small furniture, panels, tables, cupboards, chairs, office furniture, kitchen furniture, doors, and staircases among others. Generally, there are three major types of wood coatings such as evaporative, reactive, and coalescing.
It has been often observed that the wood’s color changes by staining, bleaching, or any other techniques. Once the wood surface is prepared and stained, the coating is applied. It usually consists of several coats of shellac, drying oil, paint, wax, or lacquer.
In the final stages, the surface may be polished with the help of wool, steel, rotten stone, or other materials. It is also dependent on the shine desired by the customer. In addition to that, a final coat of wax is applied over the finish to add a degree of protection. Polyurethane finish is also associated with wood coatings.
Furniture, decking, and siding are the three largest applications of wood coatings in value terms. However, smaller doors, windows, and cabinet applications are expected to achieve faster growth in the near future.
Paint is considered a dominant wood coatings product utilized on siding, windows, and doors, but as compared to other products, stains and sealers are more widely utilized on cabinets, decks, furniture, and flooring. Polyurethane wood finish is predominately used in primers and sealers.
Residential end-user is known as the largest market for wood protection products, driven by maintenance demand for various items such as fences, siding, and decks. Non-residential and non-building uses account for a much smaller market for wood protection products.

Competitive Landscape

Key players in the global wood coatings market are focusing on launching new and innovative types of wood coatings in order to get an edge over the global landscape. The prominent market players are concentrating on mergers and acquisitions to cater to the diverse customer base. Furthermore, technological advancements are making it possible to innovate new wood coatings products for better results in the future.

Top Key Players

Akzo Nobel Coatings nv (Netherlands)
PPG Industries Inc. (USA)
Sherwin-Williams Co. (USA)
DuPont Coatings and Colour
Technologies Group (USA)
ICI Paints (United Kingdom)
BASF Coatings AG (Germany)
Valspar Corp. (USA)

More Insights into the Wood Coatings Market

North American region is anticipated to dominate the global wood coatings market. The growth of the region is attributed to the increased demand for personalized home design products, as well as rising customer spending, which will act as a major driver for a thick clear coat of wood in North America.

Asia Pacific region is currently known as the largest market for wood coatings, followed by Europe. The expansion of the market is responsible due to rising sustained demand from the developed markets and burgeoning demand from emerging economies will continue to drive the wood coatings market. The wood coatings market is witnessing a major shift of key market players from Europe and the U.S. to the emerging economies of Asia Pacific, comprising China and India.

Wood Coatings Market Dynamics: Uncover Key Trends and Challenges—Dive Deep into the Full Report for a Complete Analysis!

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Global Chronic Pain Market Set to Reach USD 152.37 Billion by 2034, Driven by Rising Demand for Accessible Pain Relief Solutions

The global chronic pain market is on the brink of significant expansion, with projections indicating it will reach USD 78.19 billion by 2024 and further escalate to USD 152.37 billion by 2034. This impressive growth trajectory reflects a robust compound annual growth rate (CAGR) of 6.90% over the forecast period, driven by key factors reshaping the industry landscape.

The surge in the prevalence of chronic diseases, coupled with an aging global population, is fueling an increased demand for over-the-counter (OTC) pain medications. As more individuals seek accessible and effective pain relief solutions, the market is witnessing a marked rise in demand for OTC treatments, which are increasingly favored for their convenience and accessibility.

In addition to consumer preferences, government initiatives and increased funding towards chronic pain treatment are contributing to market expansion. The growing geriatric population and the rise in chronic health conditions have heightened the need for comprehensive pain management solutions. These solutions now encompass a wide range of therapies, including pharmacological, non-pharmacological, and occupational therapies.

The shift towards alternative therapies is becoming more pronounced as awareness of the risks associated with prolonged use of traditional painkillers grows. Healthcare professionals are increasingly exploring non-pharmacological approaches, diversifying the pain management options available to consumers and aligning with the evolving preferences of patients.

Moreover, the extensive network of small store pharmacies ensures the widespread availability of pain relief solutions, further enhancing accessibility and driving market growth. Technological advancements are also playing a pivotal role, introducing innovative and non-invasive pain management techniques that are opening new avenues for research and development within the sector.

These converging factors underscore a promising future for the chronic pain management market as it continues to evolve in response to the changing needs and preferences of patients worldwide. As the market grows, it presents new opportunities for stakeholders across the healthcare spectrum to innovate and improve the quality of life for millions suffering from chronic pain.

“An increased focus on research and development presents significant growth opportunities in chronic pain diseases. New treatments and therapies have the potential to improve the lives of millions suffering from chronic pain.” – Says an analyst at FMI.

Key Takeaways of the Chronic Pain Market:

Russia’s chronic pain market is expected to grow at a CAGR of 7.00%, driven by the increasing prevalence of chronic diseases, the geriatric population, and growing awareness of pain management therapies.
The United Kingdom’s market is experiencing growth at a CAGR of 8.40% due to an aging population and advancements in healthcare technologies.
Canada’s market is expanding at a CAGR of 10.80% due to the rising prevalence of chronic pain and the availability of advanced treatment options.
Japan’s market is escalating at a CAGR of 7.80% due to the aging population and increased awareness of early diagnosis and treatment.
Spain’s chronic pain market is getting bigger at a CAGR of 6.30% due to the rising demand for effective pain management treatments.

Chronic Pain Trends Explored: Read Our Full Report for Comprehensive Insights!

Competitive Landscape of the Chronic Pain Market:

The chronic pain management market is highly competitive, offering various products and options such as opioids, non-opioid analgesics, and nerve-block therapies. Companies are seeking new players to develop innovative therapies while prioritizing patient safety, efficacy, and affordability.

Latest Developments:

In November 2023, BehaVR and Fern Health merged to form RealizedCare, a digital care management platform aimed at unlocking the value of digital therapeutics.
In June 2023Aspen Medical Products introduced the Horizon PRO Line of lower spine braces, designed to alleviate symptoms of lower back pain caused by muscle fatigue and spasms, a concern for the elderly population, and limiting prescription pain relief dependence.

Key Companies:

Eli Lilly and Company
Dickinson and Company
Medtronic plc
Johnson & Johnson
Novartis AG
AstraZeneca PLC
Becton
Bristol-Myers Squibb Company
Sanofi

Key Segmentation:

By Product:

Drugs
Devices

By Indication:

Neuropathic Pain
Arthritis Pain
Chronic Back Pain
Cancer Pain
Migraine
Fibromyalgia
Others

By Application:

Musculoskeletal
Neuropathy
Oncology
Others

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

By Region:

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

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