Market Research Blog – Page 1497 – New Product Development

Wired Structural Health Monitoring Systems to Retain its Dominance Despite the Advent of Wireless Ones. FMI Anticipates a Valuation of 16,601.1 million by 2034 for the Structural Health Monitoring Market

According to the latest industry analysis, the global market size for structural health monitoring is estimated to be around US$ 4,478.0 million in 2024. It is projected to exhibit a CAGR growth of 14.0% over the forecast period, with an estimated market size of US$ 16,601.1 million by 2034.

The construction and infrastructural development sector, in the last few years, is witnessing a significant boom, especially post-pandemic. Emerging economies are investing a considerable amount of money in constructing public utilities such as bridges, roads, and flyovers. This has resulted in an exponential expansion of the market for structural health monitoring solutions.

Structural failures such as bridge collapses and weakened flyovers have also led to a massive demand for structural health monitoring solutions. Governments across the world have mandated stringent structural integrity assessments to ensure maximum public safety, which is driving the demand for these solutions. The expansion of smart and self-sufficient cities in countries like India, China, Brazil, and Singapore has also amplified the adoption of structural health monitoring equipment.

Companies involved in the manufacturing of structural health monitoring systems are increasingly integrating artificial intelligence and machine learning algorithms for predicting the mechanical integrity of buildings. Technological advancements, such as the use of drones and unmanned aerial vehicles (UAVs) for regular inspections and surveys, have also fueled the market expansion.

“Continuous innovation is the key in this market. Companies in the structural health monitoring market must come up with new innovations, like the integration of Artificial Intelligence and Machine Learning algorithms to comprehensively assess and analyze structural data in real time,” opines an FMI analyst.

Key Takeaways from the Market Study

The wired structural health monitoring segment is set to dominate the structural health monitoring market with a share of 62.40% in 2024.
Based on components, the structural health monitoring software segment is on track to lead the structural health monitoring industry with a share of 38.30% in 2024.
The structural health monitoring industry in China is anticipated to develop at a CAGR of 14.50% through 2034.
The structural health monitoring industry in Germany is estimated to rise at a 5.50% CAGR through 2034.
The structural health monitoring market in the United States has the potential to increase at 10.90% CAGR through 2034.
The Germany structural health monitoring industry is predicted to rise by 5.50% CAGR through 2034.
The structural health monitoring industry in Australia and New Zealand is likely to progress at a CAGR of 17.50% through 2034.

Competitive Landscape

The structural health monitoring market includes several leading companies, such as Nova Metrix LLC, Campbell Scientific Inc., COWI, Geocomp Corporation, Acellent Technologies Inc., Sixense, Pure Technologies (Xylem, Inc.), and Digitex.

These companies specialize in offering a range of services to construction companies, both public and private.
They also offer consulting and monitoring services to stakeholders in various industries such as civil engineering, construction, transportation, and energy.
These companies play a crucial role in helping construction companies monitor and assess the safety and health of their buildings and infrastructure.

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Recent Developments:

ABS and Seatrium, in November 2023, achieved structural health monitoring notation for ADMARINE 686, with a digital twin for predictive maintenance.
IIT Mandi and INRIA developed AI-based structural health monitoring for accurate infrastructure health prediction in September 2023.
In November 2023, University of Central Florida researchers unveiled four innovations utilizing AI and virtual reality to enhance structural health monitoring. This also included their flagship ‘Virtual Visualization System’.

Key Segments in the Global Structural Health Monitoring Market

By Component:

Hardware
- Sensors
- Data Acquisition Systems
Software
- Design and Analysis
- Parameter Identification and Tracking
Service
- Installation Service
- Design and Consulting Service
- Operation and Maintenance Service

By Type:

Wired Systems
Wireless Systems

By Application:

Bridges and Dams
Buildings and Stadiums
Vessels and Platforms
Airframes and Wind Turbines
Large Machines and Equipment

By Region:

North America
Latin America
Europe
Asia Pacific
MEA

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.

Contact Us:

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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Global Dermatology Devices Market Set for Exponential Growth, Projected to Surpass USD 9,803 Million by 2033

The global dermatology devices market is experiencing a phenomenal surge, poised for exponential growth over the next decade. Recent market analysis has revealed that the industry, valued at USD 5,213.0 million in 2023, is anticipated to exceed the USD 9,803.0 million mark by 2033. This remarkable trajectory is underlined by a compelling Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period.

This forecast signifies an escalating demand for cutting-edge dermatological solutions on a global scale. With a focus on pioneering technologies and evolving treatment methodologies, the industry is witnessing an unprecedented influx of investments, research, and development initiatives.

The projected growth reflects the increasing prevalence of skin disorders, rising awareness about skin health, and the growing adoption of minimally invasive cosmetic procedures. Advances in laser technology, cryotherapy, and light therapy are revolutionizing the treatment landscape, making dermatology devices more effective and accessible than ever before.

Industry experts attribute this upward trend to several factors, including the aging population, the rise in disposable incomes, and a heightened emphasis on aesthetic appeal. Additionally, the expansion of teledermatology and the integration of AI-driven diagnostic tools are enhancing the precision and efficiency of dermatological treatments.

As the market continues to evolve, stakeholders are encouraged to capitalize on the burgeoning opportunities within the dermatology devices sector. Companies are urged to invest in innovative product development and strategic collaborations to maintain a competitive edge and meet the growing consumer demand.

Key Takeaways from the Dermatology Devices Industry:

The laser segment in the dermatology devices market commands a significant 46.1% market share in 2023.
The skin rejuvenation application segment captures a substantial 21.6% market share in 2023 in the global dermatology devices industry.
Specialty dermatology clinics are the preferred choice for dermatological procedures in the dermatology devices market, holding a significant 38.9% market share in 2023.
In the United States, the laser segment dominates the dermatology devices market with a remarkable 46.1% market share in 2023, fueled by a growing aging population and widespread adoption of advanced laser technologies.
Germany’s dermatology devices market, representing 2.9% of the global market share in 2023, is characterized by precision and quality, with German manufacturers renowned for their innovative laser and cryosurgery devices.
Japan’s dermatology devices market, accounting for 3.7% of the global market share in 2023, is propelled by advancements in aesthetic dermatology, catering to an increasingly skin-conscious population.
Australia captures a 3.7% market share in the global dermatology devices market in 2023, driven by rising skin health awareness and a preference for home-use devices among its skincare-conscious populace.
China’s dermatology devices market boasts a significant 7.2% market share in 2023, primarily due to the rapid expansion of the aesthetic industry and strategic collaborations between manufacturers.
India’s dermatology devices market secures a substantial 5.8% market share in 2023, powered by the surge in cosmetic dermatology procedures and the availability of affordable dermatology devices.
The United Kingdom’s dermatology devices market leads with a 7.4% market share in 2023, largely driven by the thriving aesthetic clinics industry and the popularity of minimally invasive dermatological procedures.

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Key Players Striving to Obtain Greater Share in the Dermatology Devices Industry:

The competitive landscape of the dermatology devices industry is marked by a dynamic interplay of established market leaders, innovative startups, and evolving technological trends. Market giants like Lumenis Ltd., Cynosure (a division of Hologic, Inc.), and Alma Lasers hold sway with their extensive product portfolios and global reach. In contrast, nimble startups such as Cutera Inc., Sciton Inc., and Syneron Candela inject innovation into the market, often disrupting traditional treatment methods with novel technologies.

Continuous technological advancements remain a driving force in the industry, with companies heavily investing in research and development. Innovations such as AI integration, smart devices, and portable equipment are reshaping the dermatology devices landscape. Global expansion efforts target emerging markets like China and India, capitalizing on the rising disposable income and growing skincare awareness.

Strategic collaborations between dermatology device manufacturers and healthcare institutions, coupled with product diversification spanning laser therapy, cryosurgery, and microdermabrasion, underscore the multifaceted competitive dynamics. Mergers and acquisitions are common, reshaping the market landscape as companies seek to expand their portfolios. Balancing cost competitiveness without compromising quality remains a central challenge, as consumers increasingly seek value-driven solutions.

Recent Developments in the Dermatology Devices Market:

Cynosure released their new PicoSure Pro gadget, the newest improvement to the PicoSure platform.
Cutera debuted its new Excel V laser, which is intended to be more successful and less uncomfortable for patients.
On June 15, 2023, Hologic unveiled their new SculpSure Body gadget, a non-invasive body shaping technology that employs radiofrequency radiation.
On June 8, 2023, Lumenis introduced their new UltraPulse Encore laser, which is intended to be more adaptable and effective for a wider range of skin treatments.
Alma Lasers introduced their new Harmony XL Pro device, a modular platform that can be utilized for various cosmetic treatments such as laser hair removal, tattoo removal, and skin resurfacing.

Key Companies in the Market:

Alma Lasers GmbH
Cynosure, Inc.
Solta Medical, Inc.
Cutera, Inc.
Syneron Medical Ltd.
Canfield Scientific, Inc.
3Gen
Aesthetic Group
Ambicare Health
Image Derm, Inc.
Lumenis, Ltd.
Bausch Health Companies Inc
Bruker Corporation
Carl Zeiss
Genesis Biosystems, Inc.
Heine Optotechnik GmbH & Co. Kg
Michelson Diagnostics, Ltd.
Photomedex, Inc.

Key Market Segments Covered In Dermatology Devices Industry Research:

By Product Type:

Lasers
Fractional
Diode
InfraRed 1319 nm
Alexandrite laser
Nd: YAG 1064 nm
Pulsed
Potassium Titanyl Phosphate (KTP)
IPL devices
RF Devices
Microdermabrasion Devices
Others

By application:

Vascular Lesions
Telangiectasia
Hemangiomas
Port wine stains
Venous lakes
Scar Removal
Red or hypertrophic scars
Hyperpigmentation
Tattoo removal
Hair removal
Wrinkle Removal
Acne Treatment
Skin Rejuvenation
Pore Reduction
Others

By End User:

Hospitals
Specialty Dermatology Clinics
Private Clinics

By Region:

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

About Future Market Insights (FMI)

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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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Global Liquid Biopsy Market is anticipated to account for US$ 10,938.6 million by 2033 at a CAGR of 21.7%

The global liquid biopsy market value is expected to rise from USD 1,538.3 million in 2023 to USD 10,938.6 million by 2033. This estimated growth is expected to be driven by a remarkable CAGR of 21.7% in the global liquid biopsy market over the next decade.

Several biomedical research centers and the pharmaceutical industry aim to enhance treatments’ efficacy and detect a pathological condition at its early stage. Since clinical genetic analyses and cancer diagnosis require sampling via tumor biopsy, the increasing cases of cancer across the globe are creating an optimistic outlook for the sales of liquid biopsy over the next decade.

Presently, tumor tissue is a gold standard source for cancer characterization and diagnosis. Key players are working on the current barriers associated with its usage to extend its applicability in the future. Several studies have also come to light that discover the potential of liquid biopsy approaches to determine the genetic profiles of cancer in cancer patients. The studies also consider the responses to monitor treatment and latch on to the inception of therapy resistance. In recent years, the demand for personalized treatment options has propelled the use of liquid biopsy.

The use of liquid biopsy is also rising due to its availability in numerous labs, even in emerging economies, and its affordability. For instance, liquid biopsy tests can be found in several labs in India. 4baseCare is one of the leading companies that offer affordable and advanced comprehensive genetic testing solutions in the country.

“Key players are bringing cost reductions in liquid biopsy tests and partnering with local product distributors to strengthen their network base in target markets. Currently, a trend toward emerging economies has been spotted, as cancer cases are particularly on the rise, and a large population base provides significant opportunities in these markets,” says an FMI analyst.

Key Takeaways from the Liquid Biopsy Market Report:

The North America liquid biopsy market is expected to account for a leading share of 50.84%. The United States is predicted to account for 43.8%, enjoying a dominant share in the global and regional markets.
The Europe market is anticipated to acquire a market share of 19.6% in 2023. Germany holds a prominent share in the region. In 2023, the country is predicted to amass a total of 6.6% share in the global market.
In Europe, the United Kingdom is predicted to expand at a robust CAGR of 26.4% through 2033.
In Asia Pacific, China and India display a remarkable percentage of growth, i.e., 29.7% and 24.4%, respectively, through 2033.
CTC (Circulating Tumor Cells) is projected to obtain a significant market share of 56.9% by biomarker type in 2023.
By sample type, blood sample type holds prominence in the liquid biopsy market.

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Key Developments by Liquid Biopsy Market Players:

QIAGEN N.V. (the Netherlands), in May 2022, introduced a therascreen EGFR Plus RGQ PCR Kit, which is a new in vitro diagnostic test for the analysis of sensitive EGFR mutation.
Guardant Health, Inc., in June 2021, introduced Guardant360 Response test that finds variations in circulating tumor DNA (ctDNA) levels.
Hoffmann-La Roche Ltd. (Switzerland), in October 2020, gained United States FDA approval for the extended claims for cobas EGFR Mutation Test v2 to be deployed as a companion diagnostic for an extensive range of therapies to manage non-small cell lung cancer (NSCLC).
Biocept, Inc., in March 2020, agreed with a California-based Independent Physician Association (IPA) to offer its Target Selector liquid assay services to patients and physicians in the network.

Companies Operating in the Liquid Biopsy Market:

BIOCEPT, INC.
Qiagen N.V.
Trovagene, Inc
Janssen Global Services, LLC
MDxHealth SA
Natera, Inc
F. Hoffmann-La Roche Ltd
Silicon Biosystems
Pathway Genomics Corporation
Sysmex Corporation
Others

Key Segments Profiled in the Liquid Biopsy Industry Survey:

By Biomarker Type:

CTCs (Circulating Tumour Cells)
ctNA (Circulating tumor Nucleic Acids)
Exosomes

By Sample Type:

Blood Liquid Biopsy
Urine Liquid Biopsy
Other (Plasma, Saliva, CSF) Liquid Biopsy

By Application Type:

Liquid Biopsy for Lung Cancer
Liquid Biopsy for Gastrointestinal Cancer
Liquid Biopsy for Prostate Cancer
Liquid Biopsy for Breast Cancer
Liquid Biopsy for Colorectal Cancer
Liquid Biopsy for Leukemia

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan
Japan
Middle East and Africa

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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani

Tablet Market Soars: Projected Valuation to Surpass US$ 344.77 Billion by 2034, Fueled by Rapid Digitization

In 2024, the tablet industry is projected to grow to a whopping US$ 99,114.8 million. Tablet demand is expected to grow at a compound annual growth rate (CAGR) of 13.30% until 2034. It is anticipated that the market value would exhibit an increasing trend and reach US$ 3,44,773.9 million by 2034.

The growing need for portable computing devices, particularly in the healthcare and education sectors, is one of the drivers driving the tablet market forward. Its continued rise is further aided by the ageing population’s increasing embrace of tablets for communication and leisure, as well as their increased inclination for entertainment consumption. Moreover, the availability of affordable models and the endorsement of advantageous regulatory regulations create an atmosphere that is favourable to the growth of the business.

Despite its growth, the tablet industry faces market saturation and competition from alternative devices such as smartphones and laptops. Moreover, the limited scope for significant hardware innovations and the frequent replacement cycles hinder the overall market growth. Data security and privacy concerns also pose significant restraints, prompting consumers and businesses to exercise caution in adopting tablet technology.

The evolving educational landscape, particularly the integration of digital learning platforms and eBooks presents a promising opportunity for the tablet industry. Furthermore, the rising demand for technologically advanced healthcare solutions, including telemedicine and electronic health records, amplifies the need for efficient and portable devices, thus creating a substantial market opportunity.

The latest trends shaping the tablet market scope include the incorporation of advanced personalized and customizable features catering to diverse consumer preferences. Additionally, the integration of sustainable power solutions, such as improved battery technologies and eco-friendly charging options, reflects the industry’s commitment to environmental sustainability.

The focus on enhanced multitasking capabilities and seamless integration with other smart devices underscores the industry’s pursuit of efficiency and connectivity. Moreover, the incorporation of innovative display technologies and a growing emphasis on user-friendly interfaces and intuitive design contribute to an enhanced user experience, driving the industry’s growth and innovation.

Key Takeaways from the Tablet Market Report:

In 2024, slate tablets are likely to command a significant market share of 65.50%, underscoring their wide appeal and dominance in the product category.
Windows secures a substantial market share of 38.60% in 2024, solidifying its position as the preferred operating system for a diverse consumer and business base.
The United States tablet industry is forecasted to expand at a CAGR of 4.3% through 2034.
Germany’s tablet industry is expected to experience a steady rise with a projected CAGR of 5.4% through 2034.
With a CAGR of 4.8% through 2034, the United Kingdom’s tablet industry is poised for notable growth.
Projections indicate that China’s tablet industry is set to surge with an impressive CAGR of 9.4% through 2034.
India’s tablet industry is expected to witness significant growth, with an estimated CAGR of 12.8% through 2033.
Japan’s tablet industry is expected to demonstrate substantial expansion at a CAGR of 8.1% through 2033.

“The Tablet Market continues to exhibit robust growth, with our recent market research study revealing promising trends and opportunities, as consumer demand for portable and versatile computing devices rises, the Tablet Market is poised for significant expansion, driven by innovations in technology and an increasing preference for tablets in both professional and personal settings.” -opines Sudip Saha, managing director at Future Market Insights (FMI) analyst.

Competitive Landscape of the Tablet Market:

The competition in the tablet market is high, characterized by a handful of prominent players vying for market share and dominance. Some of the key competitors in this industry include Apple, Samsung, Lenovo, Huawei, and Amazon, among others.

Beyond these major players, several other companies compete in the tablet market, each striving to differentiate themselves through unique features and pricing strategies. As the market evolves, new entrants and established players will continue to innovate and adapt to stay relevant in this highly competitive industry.

The tablet industry continues to present promising investment opportunities for new entrants. The burgeoning demand for specialized tablets tailored for educational purposes, healthcare applications, and industrial use cases underscores the potential for niche market penetration. Moreover, the shift toward remote work and virtual learning has amplified the demand for feature-rich, affordable tablets, creating fertile ground for disruptive innovations and market entry.

Leading Key Players:

Apple
Samsung
Amazon
Huawei
Lenovo
Acer
Asus
Dell
HP
LG
Microsoft
Xiaomi

Recent Developments in the Tablet Market:

Huawei is reportedly working on a new line of MatePad tablets with stylus support and productivity features.
Lenovo is reportedly working on a new line of ThinkPad tablets with enterprise-grade security and features.
Amazon Fire Tablet Pro is rumored to launch in late 2023 with a premium design and improved features.
Amazon is reportedly working on a new line of Fire tablets for kids with educational and parental control features.

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Tablet Market Segmentation:

By Product Type:

Detachable Tablet
Slate Tablet

By End-Use:

Consumer
Commercial

By Operating System:

Android
iOS
Windows

By Region:

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

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Saudi Arabia’s Pharmaceutical Market Poised for Robust Growth: FMI Report Projects 5.20% CAGR to 2034

The pharmaceutical industry in Saudi Arabia is set for impressive expansion over the next decade, as detailed in a recent report by Future Market Insights (FMI). The analysis highlights a promising trajectory for the sector, forecasting a Compound Annual Growth Rate (CAGR) of 5.20% through 2034, with the market expected to reach a value of USD 16,789.6 million by the end of the forecast period.

According to FMI’s report, the demand for pharmaceutical products in Saudi Arabia is projected to experience substantial growth, with the market value anticipated to exceed USD 10,113.1 million by 2024. This upward trend reflects the Kingdom’s increasing healthcare needs and the evolving dynamics of the market.

Key factors contributing to this optimistic outlook include advancements in healthcare infrastructure, rising healthcare expenditures, and a growing population that demands expanded healthcare services. Moreover, the report identifies a shift towards preventive healthcare and increasing prevalence of chronic diseases as additional drivers shaping the pharmaceutical landscape in Saudi Arabia.

“The pharmaceutical industry in Saudi Arabia is entering a transformative phase, characterized by robust growth and evolving healthcare needs,” commented at Future Market Insights. “We anticipate continued investments in healthcare infrastructure and innovations in pharmaceutical products to further bolster market expansion.”

The FMI report also highlights opportunities for market players to capitalize on these trends by focusing on research and development of specialized medicines, leveraging digital health technologies, and enhancing distribution networks across the region.

As Saudi Arabia continues to prioritize healthcare as a critical component of its Vision 2030 agenda, the pharmaceutical sector is expected to play a pivotal role in achieving healthcare goals and improving overall population health.

Key Takeaways:

Biopharmaceuticals are driving growth in the Saudi Arabian pharmaceutical sector, fueled by advancements in personalized medicine.
Pharmaceutical companies see the Middle East, including Saudi Arabia, as a promising market due to rising healthcare needs, improved infrastructure, and government support.
There’s a growing focus on developing treatments for rare diseases due to regulatory incentives and the potential for personalized medicine.
Sustainability is becoming increasingly important in the Saudi pharmaceutical industry, with companies focusing on waste reduction, ethical sourcing, and eco-friendly production methods.
Artificial intelligence (AI) and machine learning (ML) are being widely adopted to personalize treatments, optimize clinical trials, and accelerate drug discovery in Saudi Arabia.
3D printing technology is being explored for complex drug formulations and personalized medicine production, potentially leading to more customized drug delivery systems.
The Saudi pharmaceutical industry is increasingly incorporating patient perspectives into drug development processes, aiming to better address patient needs and preferences through patient advocacy, participation, and clinical trial design.

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Competitive Landscape:

Saudi Arabia’s pharmaceutical industry is fairly competitive, with foreign firms like Hikma Pharmaceuticals and regional heavyweights like Tabuk Pharmaceuticals and SPIMACO. These businesses compete for market dominance by strongly emphasizing innovation, quality control, and regulatory compliance. A dynamic and competitive environment is being created by the emergence of new competitors that are concentrating on digital health solutions and biopharmaceuticals. Strategic positioning, regulatory flexibility, and technological developments in the pharmaceutical industry are essential for long-term success as the sector expands.

Recent Developments:

In January 2024, Saudi Arabia launched a national biotech strategy to become a global biotech hub within 16 years. The program is part of a bigger effort known as Vision 2030, which aims to position the country as a biotech leader in the Middle East and North Africa by 2030.
In October 2023, the first cancer pharmaceutical plant opened in Sudair City, Saudi Arabia, a key milestone for the pharmaceutical and food sectors. The plant is one of three new enterprises established in the region. Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef, inaugurated three new pharmaceutical and food firms for industry and business in Sudair City.

Some of the Key players in Pharmaceuticals in Saudi Arabia:

Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO)
Tabuk Pharmaceuticals
Hikma Pharmaceuticals
Julphar Saudi Arabia
Jamjoom Pharma
Modern Pharmaceutical Company (MPC)
Ameco Pharmaceutical Company
Tadawi
Al Nahdi Medical Company
Sipco (Saudi Industrial Products Company)

Key Segments:

By Prescription Type:

Prescription Drugs
Over-the-Counter Drugs

By Drug Type:

Branded Drugs
Generic Drugs
Branded Generic Drugs

By Drug Class:

Small Molecules
Biologics
Biosimilars

By Indication:

Cardiovascular Diseases
Immunology
Respiratory Diseases
Neurological Diseases
Infectious Diseases
Skin Diseases
Oncology
Metabolic Disorder
Urology
Ophthalmic Diseases
General Health
Others

By Mode of Administration:

Topical
Oral
Injectable
Intra-nasal
Others

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Drug Stores
Online Pharmacies

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Global Platelet-Rich Plasma Market Set for Robust Growth, Projected to Reach USD 1.8 Billion by 2034 a CAGR of 12.1%

The global platelet-rich plasma (PRP) market is poised for remarkable expansion, with a projected Compound Annual Growth Rate (CAGR) of 12.1% from 2024 to 2034. According to recent market research, the PRP market, valued at USD 594 million in 2024, is expected to surge to USD 1.8 billion by 2034.

In 2023, the PRP market experienced a notable growth rate of 10.0%, fueled by several key factors driving its increasing adoption globally. PRP therapy has become a popular choice among both patients and healthcare professionals due to its non-invasive nature and minimal side effects. This therapeutic approach is increasingly utilized for treating sports injuries, orthopedic diseases, and a range of medical conditions, significantly contributing to its market growth.

PRP therapy plays a pivotal role in regenerative medicine, aiding in the repair and regeneration of damaged tissues and cells. The expanding applications of PRP in treating conditions such as osteoarthritis, tendinitis, and chronic diseases among older adults are further propelling market demand.

Furthermore, the awareness of PRP therapy’s benefits in cosmetic procedures, such as reducing wrinkles and fine lines, is also driving market expansion. This awareness, coupled with advancements in technology and equipment for PRP treatments, is making PRP therapy more accessible and affordable for patients worldwide.

“The rising prevalence of chronic diseases, coupled with the effectiveness and growing acceptance of PRP therapy, is creating a robust market landscape,” noted FMI. “As the field of regenerative medicine continues to evolve, PRP is expected to play a crucial role in meeting the growing healthcare needs globally.”

The PRP market’s growth trajectory underscores its potential to revolutionize treatment paradigms across various medical disciplines. With advancements in technology and increasing patient awareness, the future of PRP therapy appears promising.

Key Takeaways from the Platelet-rich Plasma Market

The platelet-rich plasma market is estimated to register a CAGR of 12.1% with a valuation of USD 1.8 billion by 2034.
The pure platelet-rich fibrin (P-PRF) segment is anticipated to dominate the global market by registering a 42.1% share in 2024.
With an 86.2% share, the autologous platelet-rich plasma is likely to drive the market by 2024.
Japan is the leading country in the platelet-rich plasma market, with a CAGR of 13% from 2024 to 2034.
The market of platelet-rich plasma in the United Kingdom is estimated to record a growth of 10.9% through 2034.
The United Kingdom is the second-leading country in platelet-rich plasma, with an impressive growth of 12.4% through 2034.

Competitive Landscape:

Various established market participants and new startups attempting to build their presence have been in business for several years. These companies provide a wide range of platelet-rich plasma-related products and services, such as kits and devices, and focus on innovating products to meet the growing demand. Some prominent companies in the market include Harvest Technologies Corp., Zimmer Biomet Holdings Inc., Arthrex, Inc., and Arteriocyte Medical Systems, Inc.

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Recent Development:

Zimmer Biomet Holdings Inc., a medical technology company, signed a strategic collaboration with OSSIS, a hip replacement treatment company based in New Zealand, in 2021. The partnership aimed to promote Zimmer Biomet’s patient-specific 3D-printed titanium hip replacement joints throughout Asia.

Key Market Segments:

By Product Type:

Pure-Platelet-rich Plasma (P-PRP)
Leukocyte-Platelet-rich Plasma (L-PRP)
Leukocyte-Platelet-rich Fibrin (L-PRF)

By Origin Type:

Autologous
Homologous
Allogenic

By Application Type:

Orthopedic Surgery
Cosmetic Surgery
General Surgery
Neurosurgery
Other Surgeries (Urological, Cardiothoracic, Periodontal, and Oral and Maxillofacial)

By Region:

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

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Global Protein A Resins Market Poised for Remarkable Growth, Forecasted to Reach USD 1,477.01 Million by 2033

A recent study by Future Market Insights (FMI) has highlighted an impressive trajectory for the global protein A resins market, projecting a substantial expansion over the next decade. Valued at USD 677.84 million in 2023, the market is set to nearly double, reaching approximately USD 1,477.01 million by 2033. This growth is driven by a robust compound annual growth rate (CAGR) of 8.1%.

Protein A resins are critical components in the purification processes essential for the production of monoclonal antibodies. These antibodies are increasingly vital in therapeutic treatments and diagnostics, reflecting the sector’s rapid growth. The rising prevalence of chronic diseases, the flourishing biopharmaceutical industry, and ongoing advancements in clinical research methodologies are significantly boosting the demand for more effective biologics.

“The global protein A resins market is poised for substantial growth in the coming years,” stated Future Market Insights. “This growth is driven by the escalating demand for monoclonal antibodies in therapeutic applications, coupled with advancements in biopharmaceutical production techniques.”

The study underscores that North America currently holds a significant share in the protein A resins market, owing to a robust presence of biopharmaceutical companies and substantial investments in healthcare research and development. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, supported by increasing healthcare expenditures and expanding biopharmaceutical manufacturing capabilities in countries like China and India.

Factors Contributing to the Rise of CMOs in mAb Production:

Limited In-House Capabilities: Many biotechnology companies lack the internal infrastructure and expertise required for mAb production.
Supply Chain Complexity: Managing the complex supply chain associated with mAb manufacturing can be challenging.
High Financial Investment: Establishing high-containment biologic facilities requires significant financial resources, posing a risk for individual companies.

Therefore, the outsourcing of mAb development and manufacturing to CMOs is expected to create a substantial demand for protein A resins, further propelling market growth.

This highlights the projected growth of the protein A resins market, driven primarily by the increasing demand for monoclonal antibody production and the crucial role played by Contract Manufacturing Organizations.

Top Highlights from the FMI’s Analysis of the Protein A Resins Market:

The United States protein A resins industry is expected to acquire more than 93.5% value share of the North America market.
Within Europe, the United Kingdom protein A resins industry is expected to take 24.1% of the pie in 2033.
The China market is anticipated to enlarge at a CAGR of 9.8% over the upcoming years.
High demand for natural protein A resin is expected to yield a large market share in 2023.
Under the matrix category, the agarose-composed matrix of protein A resins is expected to record 85.8% of the market share in 2023.
The antibody purification segment is projected to gain 74.8% of the global market.
The biopharmaceutical manufacturers segment is expected to emerge as the chief end user of the market, gaining as high as 79.2% of the market in 2023.

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Key Players in the Market are:

GE Healthcare
Thermo Fisher Scientific
Kaneka Corporation,
JNC Corporation
Purolite Life Sciences
Bio-Rad Laboratories, Inc.
JSR Corporation (JSR Life Sciences LLC)
Repligen
Tosoh Bioscience, Merck Group (Merck Millipore)
Novasep Holdings SAS, Agilent Technologies, Inc.
GenScript, Abcam PLC (Expedeon Ltd.)
Avantor Inc.
Takara Bio, PerkinElmer, Inc.
Suzhou Nanomicro Technology Co., Ltd

Protein A Resins Market by Category:

Product:

Natural Protein A Resin
Recombinant Protein A Resin

Matrix:

Agarose-based Matrix
Glass or Silica-based Matrix
Organic Polymer-based Matrix

Application:

Immunoprecipitation
Antibody Purification

End User:

Biopharmaceutical Manufacturers
Clinical Research Laboratories
Academic Institutes

Region:

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

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Social Business Intelligence Market Set to Soar: Projections at US$ 49.6 Billion by 2034

Based on income from worldwide deployment, FMI projects that the global market for social business intelligence will be worth US$ 17 billion by the end of 2017. The market is anticipated to have expanded at a compound annual growth rate (CAGR) of 6% by the end of 2026. An estimated US$ 29 billion is its value.

According to Future Market Insights (FMI), SAP SE, SAS Institute Inc., Logi Analytics, Inc., TIBCO Software, Inc., Alteryx Inc., MicroStrategy, Inc., Microsoft Corporation, Qlik Technologies, Inc., and Tableaue Software, Inc. are a few of the well-known players in the industry.

They are exploring prospects in the development of social media tools and software. Several companies in the market are a substantial investments in research and development aimed at wearable technologies based on social business intelligence to gain a competitive edge over others.

The various end-use verticals for the social business intelligence market are BFSI, healthcare and life sciences, consumer goods and retail, travel and tourism, IT and telecommunication, media and entertainment, and government. Of these, the BFSI sector is the leading segment as it held a major market share of 20.2% of all the verticals in 2016. The segment is anticipated to retain its dominance throughout the assessment period. However, the travel and tourism segment is anticipated to rise at higher year-over-year growth from 2017 to 2026.

Rising Ubiquity of Social Media to Bolster Demand

The growing demand for big data analytics tools for the analysis of social media, coupled with the rising ubiquity of social networks world over, is a key factor driving the market. The pressing need for next-generation analytical data generation technologies and management systems across modern enterprises is a primary factor driving the market in various regions.

The robustly rising popularity of social media among product and customer service teams, largely on account of benefits that percolate beyond marketing and promotion, is a key trend accentuating the market. The growing demand for various big data tools such as Hadoop in managing vast sets of unstructured data emanating from online and social media sites and CRM conversations is a notable trend catalyzing the demand for social business intelligence tools. This is motivated by the intensifying needs to garner data-driven insights into customer taste and preference across enterprises.

The pressing need for gaining customer insights in real-time for accelerating time-to-market is a key aspect of a fast-growing modern enterprise, necessitating the demand for social business intelligence tools. The rising adoption of cloud-based technologies and services will expectedly create exciting opportunities for market players in the coming years.

Data Security Major Concerns, Advanced Enterprise Data Operating Systems to Open up Exciting Avenues

The concern of privacy of data and their enterprise security are key factors likely to hamper the demand for social business intelligence to an extent. Nevertheless, the marked shift of enterprises workloads from on-premise to cloud is expected to allay these mounting concerns, thereby bolstering the demand for social business intelligence. In addition, the advent of advanced enterprise data operating systems has led players overcome the constraints associated with traditional database systems, notably SQL servers.

The growing popularity of Hadoop for building large-scale database has enabled enterprises manage large operational requirements. This is a welcome trend in the global social business intelligence market. Furthermore, the introduction of YARN and MapReduce has substantially expanded the capabilities of Hadoop, thereby creating lucrative avenues for market players.

The global social business intelligence market is segmented based on:

By Deployment Type

On-premise
Cloud-based

By Size of Enterprise

Small Enterprise
Medium Enterprise
Large Enterprise

By Vertical

BFSI
Healthcare and Life Sciences
Consumer Goods and Retail
Travel and Tourism
IT and Telecommunication
Media and Entertainment
Government
Others

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Residential Water Treatment Devices Market Predicted to Reach USD 23,721 Million by 2033, with a CAGR of 5.2%

The residential water treatment devices market is expected to be valued at USD 14,220.6 million in 2023 and is forecasted to grow to USD 23,721 million by 2033. Throughout the forecast period, the market is experiencing a Compound Annual Growth Rate (CAGR) of 5.2%.

Health Concerns: Rising consumer awareness about healthy lifestyles is driving the demand for filtered water and improved water quality. Concerns about waterborne diseases due to contaminants are leading to increased adoption of residential water treatment devices.
Growing Technical Advancements: Technological advancements are playing a significant role in the development of effective and efficient water treatment solutions. The proliferation of water treatment apps is addressing issues related to water contaminants with ease.
Rapid Urbanization: Urbanization is driving the demand for residential water treatment devices to ensure access to clean drinking water for residents of urban areas, including societies, buildings, and houses.
Consumer Preferences: Consumers are increasingly opting for environmentally friendly water testing devices that improve water quality without harsh chemicals. These devices utilize purification methods such as ultraviolet sterilization and reverse osmosis.
Water Recycling: There is a growing focus on water conservation, leading to increased demand for water purification devices for domestic use, especially for recycling water.

The key companies are installing water purification treatment devices at home easily. These advanced technical devices remove contaminants and ultraviolet light and make water safe to consume. Due to the rising concern about water quality, adopting these devices is expanding the market. The government is also focused on providing safe, clean, and pure water by implementing various global regulations.

Growing Internet of Things and Advanced Technologies Fuel the Market Growth

The growing innovation in the market has made using highly advanced devices easier. The growing technologies in residential water treatment devices include robotics, wireless connectivity, and automatic monitoring. These technologies are developing more smart and accurate devices that enhance work quality and fuel market growth.

The internet connectivity, Bluetooth sensor, and real-time monitoring alert consumers to detect issues and other related things. These water purification devices help to resolve water problems and reduce chlorine water, preventing health issues. The rising contaminated water supplies in colonies, apartments, and houses are increasing the adoption of residential water treatment devices.

Key Takeaways:

The residential water treatment devices market is securing a CAGR of 5.2% with a valuation of US$ 23,721.0 million by 2033.
Historically, the market was valued at US$ 11,794.2 million in 2018.
The United States is leading the global market by securing a maximum share of 18% during the forecast period.

Key Player’s Strategies Bring Lucrative Opportunities in the Market

The key players play a vital role in the global market by adopting several marketing strategies to bring lucrative opportunities. These strategies in the residential water treatment devices market include:

Innovation: Key players innovating their products a stay ahead of their competitors in the market. They focus on consumers’ needs and implement their product accordingly with a better version.
Increased Investment: Key marketers invest a lot in research and development to develop advanced products with better technologies. These players are providing high-quality residential water treatment devices to attract consumers.
Expand Reach: The key players are trying to reach their relevant audience to increase sales. They are increasing their brand awareness through social media, content strategies, and other online platforms.
Focus on Cost Optimization: The key players are providing their consumers with better quality products at affordable prices. It can increase profitability with the rising demand for residential water treatment devices.

Recent Developments in the Global Market are:

In 2021, Pentair plc launched its Everpure H-300-NXT product for water purification. It helps to reduce harmful bacteria, including mercury and contaminated water.
In 2021, Culligan International Company announced its new launch application to monitor harmful water through smartphones.
In 2021, 3M announced its new product Aqua-Pure AP-DW80/90 to improve water quality for drinking and reduce contaminants, including cysts.
In 2021, Honeywell International Inc launched a freeze Detector to identify leakages in the water purifying the system.
In 2021, Whirlpool Corporation announced the newly launched EveryDrop for water purification.

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Residential Water Treatment Devices Market by Category

By Product:

Distillation Units
Water Filters

Price Range:

Economy
Mid-Range
Premium

Installation Type:

Point of Use
Point of Entry

Sales Channel:

Hypermarkets/Supermarket
Convenience Stores
Specialty Stores

Region:

North America
Europe
Latin America
Asia Pacific
Middle East Africa

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 ~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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Car Rental Service Market: Projections Suggest a Surge Beyond USD 307.5 Billion by 2033

The global car rental service market is projected to accrue a value of US$ 307.5 billion by 2033, with the demand growing at a healthy CAGR of 7.2% from 2023 to 2033. The market will likely reach an estimated US$ 153.4 billion in 2023. Substantial growth in the number of people taking business and leisure travel trips is spurring the demand for the car rental market in the forecast period.

The widespread access to and use of the internet across developing as well as developed nations have helped enterprises in the market to expand their customer base with the aid of mobile applications. In addition, the subscription model introduced by many market players is expected to contribute to market growth.

Rapid advancements in technology are anticipated to be an essential factor aiding the expansion of the market size. Technologically-empowered web-based solutions like online sales and booking channels enable consumers to rent a car at their convenience and ease. Technological advancements in this sector have improved customer and corporate information management and enabled hassle-free internet bookings.

These considerations will supplement the growth of the car rental market. Again, the heightened dependency of consumers on smartphones for carrying out myriad tasks- tasks that were conventionally done by computers- has altered the car rental experience for consumers. This is because swift technological progress has helped enterprises in this sector to introduce various applications that will ensure a smooth booking process for consumers which, in turn, drives global market growth.

The market is also significantly influenced by the introduction of concepts like opaque renting which is a booking platform that allows online customers to offer the value that they will pay for a specific travel-related product or service without knowing the brand beforehand. The brand is only revealed after the consumer makes an online purchase. This concept, thus, enables car rental businesses to grow and use their fleet to their full capacity. This trend is expected to have an immense impact on the car rental services market. Hence, technological advancements in mobile capacities along with advancing web-based media enable the growth of opaque renting which, in turn, drives the overall car rental market growth.

Key Takeaways:

Sharp rises in fuel prices will likely serve as an impediment to the global car rental services market.
Favorable government initiatives like the implementation of policies regarding the reduction of carbon emissions will likely strengthen market prospects.
The car rental market in the US will be driven by the presence of market leaders like The Hertz Corporation.
China’s car rental market will dominate the East Asia region with East Asia registering a CAGR of 10.8% from 2023 to 2033.
By car type, the economy cars segment will dominate the international marketplace.
Based on end-users, the on-airport segment will account for over 40% of the market share.

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Competitive Landscape

Enterprise Holding Inc., The Hertz Corporation, Localiza-Rent A Car, Sixt SE, and Avis Budget Group, among others, are a few of the significant players in the car rental market profiled in the full version of the report.

In a competitive market, key players are keen on capitalizing on ongoing technological advancements. These organizations make use of web and mobile-based advancements to attract a wider consumer base. Strategic service offerings, mergers, and acquisitions are also employed by these participants to gain a competitive edge. For instance, Localiza Rent A Car SA merged with Car Rental Systems in 2020 to meet strategic guidelines for simplification and administrative and financial rationalization.

Car Rental Services Market by Category

By Car Type:

Economy Cars
Compact Cars
Intermediate Cars
Premium Cars
Luxury Cars
Others

By End Use:

Intercity
Intracity
On-Airport
Others

By Booking Mode:

Offline Access
Mobile Application
Other Internet Access

By Sector:

Organized
Unorganized

By Region:

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

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 ~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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