Market Research Blog – Page 1546 – New Product Development

Global Pharmacovigilance Market Set for Exponential Growth, Predicted to Reach USD 23.31 Billion by 2033

According to the latest analysis by Future Market Insights (FMI), the global pharmacovigilance market is on a trajectory of substantial growth, with projections indicating a remarkable increase from USD 6.87 billion in 2023 to USD 23.31 billion by 2033. This surge reflects a robust Compound Annual Growth Rate (CAGR) of 13% over the forecast period.

The growth of the pharmacovigilance market is driven by several key factors. There is a burgeoning emphasis on drug safety and regulatory compliance across the pharmaceutical industry, accompanied by heightened awareness within both the healthcare sector and the general public regarding the critical importance of effective adverse drug reaction monitoring.

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Technological advancements in data processing and analysis are also pivotal in driving this market expansion. These innovations are significantly enhancing the efficiency and efficacy of pharmacovigilance activities, thereby enabling better management and monitoring of drug safety profiles.

Key Drivers Fueling the Growth:

Rising Prevalence of Chronic Diseases: The increasing incidence of chronic illnesses like diabetes, cancer, and cardiovascular diseases necessitates the development of new pharmaceuticals. This, in turn, fuels the demand for robust pharmacovigilance practices to ensure patient safety.
Growing Awareness of Adverse Drug Reactions (ADRs): Heightened awareness of ADRs, coupled with increasing patient consumption of medications, propels the need for enhanced pharmacovigilance services.
Stringent Regulatory Frameworks: Stringent regulations mandating thorough drug safety monitoring by pharmaceutical companies and regulatory bodies further drive market expansion.

North America Leads the Charge:

North America currently holds the largest market share (over 30.0% in 2021) due to the presence of major pharmaceutical and medical device players. Additionally, the rising problem of drug abuse and associated ADRs contributes significantly to market growth.
The United States, a global leader in pharmaceuticals, holds a dominant position within North America, accounting for 30.9% of the global market share in 2022. This dominance is attributed to strict regulatory frameworks, patient safety emphasis, and a growing focus on patient-centric pharmacovigilance.

Europe and Asia Pacific: Emerging Markets with Promise:

Europe presents potential for growth, with the UK leading the way due to an increased number of clinical trials evaluating new drug candidates.
Germany, a leader in innovation and technology, embraces advanced pharmacovigilance tools like AI and big data to streamline adverse event reporting.
The Asia Pacific region is expected to witness the fastest CAGR during the forecast period, driven by the abundance of outsourcing companies offering cost-effective and resource-sharing opportunities.
China and India, experiencing rapid growth in their pharmaceutical industries, are key players in the Asia Pacific market. This growth necessitates stricter pharmacovigilance measures to ensure drug safety.

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Competitive Landscape in the Pharmacovigilance Market:

In the pharmacovigilance industry, key players, including pharmaceutical companies, regulatory authorities, and specialized service providers, are actively monitoring and assessing the safety of drugs and medical products. They collaborate to detect, evaluate, and manage adverse effects, ensuring patient safety and compliance with regulations. Additionally, these players invest in advanced technologies and data analytics to enhance pharmacovigilance processes and stay at the forefront of drug safety management.

Recent Developments by Key Players:

Qinecsa Solutions Ltd. achieved a significant accomplishment in December 2022 by acquiring Commonwealth Informatics, Inc. This milestone has enabled Qinecsa to establish a comprehensive vigilance platform, bringing together outstanding pharmacovigilance services with a powerful digital platform.

In June 2022, the Italian Medicines Agency launched the new National Pharmacovigilance Network (RNF) along with an international standard format for gathering data on adverse reactions. The RNF serves as the system responsible for collecting, managing, and analyzing reports of suspected ADRs in Italy. The updated RNF incorporates advanced features to enhance the management and analysis of these reports.

Key Players:

Accenture Plc.
Bristol-Myers Squibb
Clinquest Group B.V.
Cognizant Technology Solutions
Covance Inc.
F. Hoffmann-La Roche Ltd.
GlaxoSmithKline Plc.
ICON Plc
iGATE Corporation
iMED Global Corporation
inVentiv Health Inc.

Key segments:

By Phase of Drug Development:

Preclinical Studies
Phase I
Phase II
Phase III
Phase IV

By Type of Methods:

Spontaneous Reporting
Intensified ADR Reporting
Targeted Spontaneous Reporting
Cohort Event Monitoring
EHR Mining

By Service Type Provider:

In-house Pharmacovigilance
Contract Outsourcing

By Geography:

North America
Europe
Asia-Pacific
Latin America
Middle East & 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 over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Global Neurointerventional Devices Market Set to reach USD 4.1 billion by 2033, Propelled by Increased Healthcare Expenditure | FMI

The global neurointerventional devices market is poised to achieve a valuation of USD 2.6 billion by 2023, driven by a surge in healthcare expenditure worldwide. This growth trend is expected to generate promising opportunities, projecting a compound annual growth rate (CAGR) of 4.7% from 2023 to 2033, culminating in an estimated market size of approximately USD 4.1 billion by the end of 2033.

A significant catalyst behind this expansion is the enhanced reimbursement policies for neurointerventional procedures. These policies are anticipated to incentivize healthcare providers to invest in advanced neurointerventional devices, thereby expanding their availability to patients and fostering market growth.

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The neurointerventional devices sector encompasses a range of innovative technologies designed to treat neurological condiions through minimally invasive procedures. This market growth reflects a rising demand for effective treatment options coupled with technological advancements in medical devices.

The market’s trajectory highlights a pivotal shift towards minimally invasive treatments for neurological disorders, supported by favorable regulatory frameworks and ongoing technological innovations. Key players in the neurointerventional devices market are expected to focus on expanding their product portfolios and strengthening distribution networks to capitalize on emerging opportunities.

Key Takeaways from the Market Study:

Global neurointerventional devices market was valued at USD 2.5 billion by 2022-end.
From 2018 to 2022, the market demand expanded at a CAGR of 4.3%.
The market in India is expected to expand at a CAGR of 4.5% through 2033.
By end-user, the hospitals segment to expand at a CAGR of 4.5% through 2033.
From 2023 to 2033, neurointerventional devices market is expected to flourish at a CAGR of 4.7%.
By 2033, the market value of neurointerventional devices is expected to reach USD 4.1 billion.

“The digitalization of healthcare records and patient data can facilitate seamless communication between healthcare providers, potentially improving the utilization of neurointerventional devices,” remarks an FMI analyst.

Competitive Landscape:

Prominent players in the neurointerventional devices market are Stryker Corporation, Penumbra Inc., Covidien Public Limited, Johnson & Johnson Private Limited, Terumo Corporation, Medtronic, Boston Scientific, MicroPort, Scientific Corporation, W. L. Gore & Associates, Inc., Abbott, Philips Healthcare, and Siemens Healthineers, among others.

Recent Developments:

In 2023, Johnson & Johnson announced the launch of its new neurointerventional device, the EmboTrap™ II Embolic Capture Device. The EmboTrap™ II Embolic Capture Device is a next-generation embolectomy device that is designed to improve the treatment of stroke.
In 2022, Boston Scientific announced the launch of its new neurointerventional device, the ACURUN™ Onyx™ Liquid Embolic System. The ACURUN™ Onyx™ Liquid Embolic System is a liquid embolic agent that is designed to treat vascular malformations and other neurovascular disorders.

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Segmentation Analysis of the Neurointerventional Device Market:

By Product:

Embolic Coils
Carotid Stents
Intracranial Stents
Neurovascular Thrombectomy
Embolic Protection Device
Flow Diverters Device
Intrasaccular Device
Liquid Embolic
Balloons
Stent Retrievers

By Technique:

Neurothrombectomy Procedure
Cerebral Angiography
Stenting
Coiling Procedures
Flow Disruption

By End User:

Hospitals
Ambulatory Surgical Centers

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia & Pacific
East Asia
The Middle East & Africa

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Global Respiratory Inhaler Devices Market Set to Expand Significantly, Projected to Reach USD 60,114.7 Million by 2033

The global respiratory inhaler devices market is on track for substantial growth over the coming decade, with estimations pointing to a remarkable rise to USD 60,114.7 million by 2033 from USD 37,258.5 million in 2023. This surge reflects a robust Compound Annual Growth Rate (CAGR) of 4.90% during the forecast period.

The escalating prevalence of respiratory diseases worldwide is a key driver behind this growth, fueling a heightened demand for advanced and efficient respiratory care solutions. As global incidences of chronic respiratory conditions like asthma and Chronic Obstructive Pulmonary Disease (COPD) continue to climb, the market for inhaler devices is experiencing concurrent expansion.

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Inhaler devices play a pivotal role in providing relief and managing symptoms for millions affected by respiratory conditions. Their evolving technology and accessibility are pivotal in enhancing patient outcomes and improving quality of life across diverse demographic and geographic segments.

Key market players are focusing on research and development initiatives to introduce next-generation inhaler devices that are user-friendly, portable, and technologically advanced. This strategic approach aims to address the evolving needs of healthcare providers and patients while ensuring efficient management of chronic respiratory diseases.

As the global healthcare landscape evolves, stakeholders in the respiratory inhaler devices market are poised to capitalize on opportunities arising from technological innovations and increasing healthcare expenditures worldwide.

Key Takeaways:

North America is expected to dominate the industry by accumulating over 45% revenue share by end of the forecast period.
The market in India is projected to witness fastest CAGR of 6.10% during the forecast period.
China is projected to exhibit a 20% of CAGR in respiratory inhaler devices market.
By product type, Metered dose inhalers are projected to account for 4 % market share by end of the forecast period.
By Disease Indication, Asthma is expected to lead the market by holding 8% revenue share by 2033.

“Research and development activities in enhancing the features of smart inhaler devices and new product launches will foster growth in the market,” comments an FMI analyst.

Competitive Landscape:

The Respiratory inhaler devices market is extremely competitive and consists of numerous key industry players. These players are innovating new products in the respiratory devices domain. This is expected to propel the respiratory inhaler devices market. The key industry players are:

AstraZeneca, Beximco Pharmaceuticals Ltd., Cipla Ltd., GlaxoSmithKline plc., OMRON Healthcare Europe B.V., PARI Medical Holding, Teva Pharmaceutical Industries Ltd., Koninklijke Philips N.V., Boehringer Ingelheim GmbH, Merck & Co., Inc.,

Key industry players are relying on inorganic growth strategies like acquisition, mergers, partnerships, and collaboration in order to strengthen their product portfolio. This is anticipated to fuel the global respiratory inhaler devices market.

In December 2020, ‘OMRON Healthcare’ introduced WheezeScan for children suffering from Asthma to accurately detect the presence of wheezing in young children and to remove the unpredictability of potential misdiagnosis.
In March 2021, in US and Mexico ‘AstraZeneca PLC initiated a Phase 3 clinical trial to evaluate the safety and effectiveness of budesonide/glycopyrronium/formoterol inhalers in adolescents and adults with chronic asthma inadequately controlled with standard care. The will trial will be completed in September 2023.
In May 2022, ‘Alkem’ introduced its first inhalation device, “Innohaler”, for asthma and COPD and asthma patients.

Key Segments Profiled in the Respiratory Inhalers Devices Industry Survey:

By Product:

Dry Powder Inhalers
Metered Dose Inhalers
Nebulizers
- Compressed Air Nebulizers
- Ultrasonic Nebulizers
- Mesh Nebulizers

By Technology:

Manually Operated Inhaler Devices
Digitally Operated Inhaler Devices

By Disease Indication:

Asthma
Chronic Obstructive Pulmonary Disease
Pulmonary Arterial Hypertension
Others

By Region:

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

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USA Compounding Pharmacies Market Set to Surge, Projected Valuation of USD 23,430.35 Million by 2033

The USA compounding pharmacies market is poised for significant growth, with projections indicating a valuation of USD 11,099.0 million by 2023, as per the latest market analysis. This growth trajectory is underpinned by increasing demand for personalized medication solutions that cater specifically to individual patient needs.

From 2023 to 2033, the sector is anticipated to maintain a robust compound annual growth rate (CAGR) of 7.8%, culminating in an estimated market value of approximately USD 23,430.35 million by the end of the forecast period. This surge is largely driven by the critical need to enhance medication safety and efficacy through tailored pharmaceutical solutions.

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Compounding pharmacies are uniquely positioned to create customized pharmaceuticals that are not readily available in the mass market. This capability addresses specific patient requirements, ranging from customized dosages to alternative ingredients, thereby filling a crucial gap in healthcare delivery.

Key factors driving this market expansion include the rising prevalence of chronic diseases, the need for tailored treatments for rare diseases, and the growing demand for medication alternatives due to allergies and intolerances. The compounding pharmacies industry is poised to continue its trajectory of innovation and growth, aligning with the evolving landscape of personalized healthcare solutions.

Key Takeaways from the Market Study:

The USA market for compounding pharmacies expanded at a CAGR of 5.2% from 2018 to 2022.
The market for USA compounding pharmacies is anticipated to be dominated by the oral and tropical medicine sector.
The sector increased its regional market share to above 60% in 2022.
The HRT market category increased its market share in the US compounding pharmacy market to 39% in 2022.
Over 27% of the market share for compounding pharmacies in the USA was taken by regular pharmacies in 2022.

“The market will see growth during the projected period due to the rising prevalence of chronic illnesses like cancer and increased financing for compounding pharmacies in the USA,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI) analyst.

Competitive Landscape:

Prominent players in the USA Compounding Pharmacies market are

Avella Specialty Pharmacy
Central Admixture Pharmacy Services Inc.
Hoye’s Pharmacy
Vertisis Custom Pharmacy
Smith Caldwell Drug Store
Sixth Avenue Medical Pharmacy
Cantrell Drug Company
Clinigen Group, Dougherty’s Pharmacy
Fagron N.V.

Recent Developments:

In 2021, Adamis Pharmaceuticals Corporation declared that it had signed a legal contract to sell US Compounding Inc.’s assets related to the company’s human compounding pharmacies business and clients for USD15 million before transaction costs and expenses.
In 2023, well-known American eyecare pharmaceutical manufacturer Harrow stated that ImprimisRx, a completely owned subsidiary of Harrow with a focus on compounding and mail-order pharmacies, will provide its patent-pending, future compounded Atropine formulations.
Nephron Pharmaceuticals Corporation announced the launch of a novel syringe presentation in 2022. This was done as a part of the wildly successful Nephron 503B Outsourcing Facility business, which continued to profit from the momentum brought on by exponential growth.

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Segmentation Analysis of the USA Compounding Pharmacies Market:

By Product:

Oral Medication
- Solid Medication
  - Capsules
  - Tablets
  - Mixtures
  - Lollipops
  - Lozenges
- Liquid Medication
  - Syrup
  - Solution/Liquid
  - Emulsion
  - Suspension
- Topical Medication
  - Gels
  - Ointments
  - Creams
  - Lotions
Injectable
Mouthwashes
Nasal
Ocular
Otic
Suppositories and Enemas

By Pharmacy Type:

503A Pharmacy
503B Pharmacy

By Application:

Adults
Pediatrics
Geriatrics
Veterinary

By Therapeutic Area:

Hormone Replacement Therapy
Pain Management
Dermatology
Oncology
Hematology
Dental
Others

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Global General Anesthesia Drugs Market Poised for Significant Growth, Projected to Reach USD 6,898.4 Million by 2033

The global market for general anesthesia drugs is set to experience substantial growth over the next decade. According to a recent comprehensive market analysis, the market size is expected to increase from USD 4,978.1 million in 2023 to an impressive USD 6,898.4 million by 2033, reflecting a compound annual growth rate (CAGR) of 3.3%.

This positive growth trajectory is driven by several key trends and opportunities within the healthcare sector. The advancements in surgical procedures and the enhanced accessibility to healthcare facilities on a global scale are primary catalysts. Additionally, the rising number of surgeries required by the aging population, who frequently need anesthesia, significantly contributes to the market’s expansion.

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The report highlights that these factors collectively create a robust foundation for growth in the general anesthesia drugs market. The increasing prevalence of surgeries, combined with improved medical infrastructure, ensures sustained demand for these critical pharmaceuticals.

The report underscores the dynamic changes within the healthcare sector, reflecting the growing demand for effective anesthesia solutions as medical procedures become more advanced and accessible. It provides a detailed analysis of market dynamics, emphasizing the importance of innovation and accessibility in shaping the future of the general anesthesia drugs market. Stakeholders can anticipate continued growth and development driven by these key factors.

“As more individuals resort to weight reduction drugs, there is likely to be a higher demand for weight loss operations such as bariatric surgery. This increase in surgical demand might end up in rising demand for general anesthetic medicines, creating a growth opportunity for the market.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI) analyst.

Important Takeaways from the General Anesthesia Drugs Market:

In 2022, the United States solidified its position as a frontrunner in the general anesthesia drugs sector, boasting a significant 27.9% stake in the global market.
The general anesthesia drugs industry in the United Kingdom is positioned for significant expansion, with an estimated CAGR of 3.3% anticipated through 2033.
In 2022, the general anesthesia drugs industry in Japan captured a market share of 6.2%.
India’s commendable strides in the general anesthesia drugs industry are evident in the projected CAGR of 4.9% over the forecast period.
In 2022, Germany held a consistent 6.1% share of the global general anesthesia drugs industry.
China is positioned for rapid growth in the general anesthesia drugs sector, with an expected CAGR of 4.7% projected through 2033.

Key Companies Profiled in the General Anesthesia Drugs Market:

Baxter International Inc.
AstraZeneca
AbbVie Inc.
B. Braun Melsungen AG
Fresenius SE & Co. KgaA
Pfizer
Hospira Inc.
Aspen Pharmacare Holdings Limited
Hikama Pharmaceuticals plc
Abbott Laboratories
Avet Pharmaceuticals, Inc
Piramal Enterprises Limited
Par Pharmaceutical

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Recent Developments in the General Anesthesia Drugs Market:

In February 2023, Themis Medicare was granted permission by the Drug Controller General of India to transport and commercialize Remifentanil 1 mg/2mg Powder for Concentrate for Solution for Injection.
Hikma Pharmaceuticals PLC (Hikma) introduced Bupivacaine HCl Injection, USP, in December 2021 through its US subsidiary, Hikma Pharmaceuticals United States Inc. The business has introduced 0.25%, 0.5%, and 0.75% concentrations in 10mL and 30mL dosages.

Key Market Segments Covered in General Anaesthesia Drugs Industry Research:

General Anesthesia Drugs Market By Drug Class:

Propofol
Sevoflurane
Dexmedetomidine
Desflurane
Remifentanil
Midazolam
Others – (Sufentanil, Fentanyl, Ketamine, Isoflurane, Thiopental, etc.)

General Anesthesia Drugs Market By Route of Administration:

Intravenous Anesthesia
Inhaled Anesthesia

General Anesthesia Drugs Market By End User:

Hospitals
Ambulatory Surgical Centers
Specialty Clinics

General Anesthesia Drugs Market By Region:

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

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Global Automated Breast Ultrasound Systems Market Set for Explosive Growth, Projected to Reach USD 7.23 Billion by 2033

The global automated breast ultrasound systems market is on the brink of remarkable growth, with recent projections forecasting a dramatic increase in market valuation. By 2033, the market is expected to soar to an impressive USD 7.23 billion, a substantial rise from the estimated USD 1.95 billion in 2023. This forecast represents an extraordinary compound annual growth rate (CAGR) of 14%.

The exponential growth anticipated in the automated breast ultrasound systems market underscores the rising global demand for these cutting-edge systems. Healthcare facilities worldwide are increasingly adopting automated breast ultrasound systems market technology due to its enhanced efficiency, accuracy, and patient comfort in breast cancer screening. These advanced systems play a pivotal role in the early detection and diagnosis of breast cancer, leading to improved patient outcomes and more streamlined clinical workflows.

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The surge in automated breast ultrasound systems market adoption is driven by the critical need for early and accurate breast cancer detection, which significantly enhances treatment success rates. Automated breast ultrasound systems provide a non-invasive, reliable alternative to traditional screening methods, reducing the rate of false positives and unnecessary biopsies.

As the healthcare industry continues to evolve, the integration of automated breast ultrasound systems market into routine clinical practice is becoming essential. This technology not only enhances the quality of patient care but also optimizes the operational efficiency of healthcare providers. The growing recognition of these benefits is expected to fuel the automated breast ultrasound systems market’s expansion over the next decade.

The future of breast cancer screening and diagnosis looks promising with the widespread adoption of automated breast ultrasound systems. As the market grows, so does the potential for early detection and improved patient outcomes, marking a significant advancement in the fight against breast cancer.

Key Challenges:

Limited skilled professionals: Interpreting the complex 3D images generated by automated breast ultrasound systems (ABUS) requires specialized training. The lack of radiologists with ABUS expertise and the high cost of standardized training programs pose a significant hurdle.
Uneven awareness and infrastructure: Limited awareness about breast cancer in developing economies, coupled with underdeveloped healthcare infrastructure, restricts market penetration in these regions.
Technical limitations: Compared to mammography, ABUS is more prone to false positives. Additionally, it cannot definitively differentiate between benign and malignant tumors, raising concerns among healthcare providers. Notably, ABUS also struggles to detect calcifications, which are often indicative of cancer in women over 45.

These challenges need to be addressed to unlock the full potential of the automated breast ultrasound systems market. Advancements in training programs to create a skilled workforce, coupled with efforts to raise awareness and improve healthcare infrastructure in developing economies, are crucial for sustained market growth. Additionally, technological advancements aiming to improve the accuracy of ABUS and its ability to detect specific features like calcification are essential for wider adoption in the future.

Key Takeaways from FMI’s Automated Breast Ultrasound Systems Market Study:

Increasing government investment to promote breast cancer awareness among women will bolster demand across the U.S.
The U.K is expected to experience noteworthy growth as governments and private organizations aim at curbing high mortality rate due to breast cancer.
Presence of modern healthcare infrastructure will increase automated breast ultrasound system adoption across Germany
Saudi Arabia will offer lucrative opportunities owing to rapid urbanization and emergence of advance diagnostics centers.
India is expected to exhibit increasing demand owing to increase in per capita income and to growing incidence of breast cancer among women.
Hospitals are expected to lead the market driven by faster accessibility modern tool and availability of skilled professionals.

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Competitive Landscape:

GE Electric Co., Siemens A.G., Hitachi Ltd., SonoCiné Inc., Koninklijke are some prominent players operating in the automated breast ultrasound system market. They are focusing on improving the accuracy of automated breast ultrasound system for faster assessment of cancer screening in addition to getting government approval for their products.

For instance, Hitachi being the global leader in smart life & eco-friendly systems launched its latest automated breast ultrasound system “SOFIA” capable of scanning and acquiring image of the complete breast.

Koninklijke launched Philips EPIQ and Affiniti ultrasound systems as a part of its automated breast ultrasound system product range. Philips EPIQ is laced with an integrated eL18-4 transducer and employs anatomical intelligence for accurate imaging of the breast with high tissue density.

More Insights on the Global Automated Breast Ultrasound Systems Market:

In its latest report, FMI offers an unbiased analysis of the global automated breast ultrasound system market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of end user (hospitals, diagnostic imaging laboratories), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan, and Middle East & Africa).

Automated Breast Ultrasound Systems Market by Category:

End User:

Hospitals
Diagnostic Imaging Laboratories

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Global Continuous Glucose Monitoring Systems Market to Soar to USD 103.5 Billion by 2033

The global continuous glucose monitoring systems market, currently valued at USD 11.1 billion in 2023, is set for unprecedented growth, projected to skyrocket to an estimated USD 103.5 billion by 2033. This extraordinary expansion reflects a robust compound annual growth rate (CAGR) of 25.1% over the forecast period, according to a new report.

The impressive surge in market growth is driven by the increasing prevalence of diabetes worldwide and the superior capabilities of Continuous Glucose Monitoring (CGM) systems. Unlike traditional fingerstick glucose tests, CGM systems provide real-time, accurate monitoring of blood glucose levels 24/7. These systems offer comprehensive and immediate insights into glucose levels, which are essential for effective diabetes management.

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The escalating number of diabetes cases globally has heightened the demand for more advanced, reliable, and user-friendly glucose monitoring solutions. CGM systems have emerged as a vital tool in diabetes care, offering significant advantages over conventional methods. Their ability to continuously track glucose levels helps in timely decision-making and better glycemic control, ultimately improving the quality of life for individuals with diabetes.

As the market continues to evolve, advancements in CGM technology and increasing awareness about the importance of glucose monitoring are expected to further drive market growth. The promising forecast underscores the critical role of CGM systems in the future of diabetes management and the ongoing efforts to combat this widespread health challenge.

Key Takeaways: Continuous Glucose Monitoring Systems Market

The continuous glucose monitoring systems market is expected to experience significant growth USD 11.1 billion in 2023, with estimates ranging from a CAGR of 25.1%. This translates to a market size exceeding USD 103.5 billion by 2033.
The primary driver of this growth is the rising prevalence of diabetes worldwide, along with increasing awareness about the benefits of Continuous glucose monitoring systems for managing the condition.
The Asia Pacific region is anticipated to witness the fastest growth in the Continuous glucose monitoring systems market, likely due to factors like a growing diabetic population and developing healthcare infrastructure.
Other significant factors propelling the market forward include:
- Growing geriatric population, a demographic more susceptible to diabetes.
- Increasing demand for better diabetes diagnostics and management tools.
- The need to address unmet healthcare needs, particularly in developing regions.

These trends indicate a promising future for the Continuous glucose monitoring systems market, with continuous advancements likely to further improve accessibility and efficacy for diabetes management.

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Key Players in the Continuous Glucose Monitoring Systems Market:

Herbalife Nutrition
GNC Holdings
NOW Health
Nutramax Laboratories
Nature’s Bounty
Banyan Botanicals
Source Naturals
Nutramarks Inc
Nature’s Way Products
Abbott
Natural Immunogenics
Solaray Inc.
Sambucol USA
Quantum Health, Inc.
Vitabiotics Ltd.
Rainbow Light
AdvoCare
Pure Encapsulations, LLC.
Country Life, LLC
Natural Health Concept

Key Segments in the Continuous Glucose Monitoring Systems Market:

By Components:

Transmitters and Monitors
Sensors
Insulin Pump

By End-use Sector:

Home Care Diagnostics
Hospitals
ICU/Critical Care

By Region:

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

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China First Aid Market Poised for Significant Growth, Expected to Surpass USD 800.38 Million by 2032

The china first aid market is on a robust growth trajectory, with market share projected to exceed USD 434.47 million in 2022. In China, the first aid market is expected to reach an impressive USD 800.38 million by 2032, recording a steady compound annual growth rate (CAGR) of 6.3% through 2032. This growth is driven by rising healthcare reforms and an expanding geriatric population.

First aid encompasses emergency aid administered to patients with minor injuries, including adhesive bandages, gauzes, and disinfectants. Adhesive bandages, small dressings used for minor cuts and wounds, play a crucial role in protecting injuries from microorganisms, damage, and dirt, thereby facilitating faster healing. Gauzes, transparent medicated fabrics with a loose open weave, are essential in wound care, providing protection for wounds and cuts.

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The increasing demand for first aid products is propelled by comprehensive healthcare reforms aimed at improving patient care and accessibility, alongside a growing elderly population that necessitates enhanced healthcare solutions. As these factors converge, the first aid market is poised for substantial growth, underlining the critical importance of basic medical supplies in everyday healthcare.

Key drivers and trends for the non-traditional wound care products market in China:

Drivers:

Aging population: China’s rapidly growing geriatric population is a major driver. Elderly people are more prone to chronic wounds due to conditions like diabetes. This creates a significant demand for advanced wound care solutions.
Healthcare reforms: Government initiatives promoting better healthcare access and affordability are making advanced wound care products more reachable for the public.
Investment in innovation: Manufacturers are focusing on developing more appealing and user-friendly packaging for non-traditional wound care products, potentially increasing consumer adoption.
Favorable manufacturing environment: Low labor costs, readily available raw materials, and a focus on domestic production make China attractive for global players to invest in non-traditional wound care product manufacturing.

Trends:

Market expansion: The increasing number of hospitals, especially in smaller cities (Tier 2 & 3), provides opportunities for manufacturers to expand their reach beyond major urban centers.
Shift towards advanced solutions: Rising healthcare awareness and insurance coverage might lead to a preference for more advanced wound care products over traditional methods.

Overall, the text suggests a promising future for the non-traditional wound care products market in China, driven by an aging population, supportive government policies, and a growing healthcare infrastructure.

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Key Players:

Johnson & Johnson
3M
Acme United Corporation
Cintas Corporation
Paul Hartmann AG
Medline Industries
Honeywell International Inc.
Steroplast Healthcare

Segmentation:

The China first aid market can be segmented based on various factors:

Product:

Adhesive bandages
Antiseptics and disinfectants
Gauze and dressings
Wound care products (gels, sprays)
Thermometers
Scissors and tweezers
Emergency blankets
Eye washes
CPR masks
Advanced first-aid kits (containing various supplies)

End-Use:

Hospitals & clinics
Home care settings & individuals
Industrial facilities
Sports facilities
Educational institutions
Others (emergency vehicles, travel kits)

Distribution Channel:

Pharmacies
Online retailers
Supermarkets
Convenience stores
Direct sales (through distributors or manufacturers)

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Expanding Applications Drive Fatty Amine Market to USD 4.96 Billion by 2033 with 4.9% CAGR

The fatty amine market, valued at USD 2,940.1 million in 2022, is expected to reach USD 3,081.3 million by 2023. Projected to grow at a 4.9% CAGR from 2023 to 2033, the market is anticipated to achieve a valuation of USD 4,955.9 million by 2033. This growth can be attributed to the increasing demand across various applications such as surfactants, agrochemicals, and water treatment, driven by the rising need for efficient and sustainable solutions in these sectors.

The increased demand for fatty amine as a corrosion inhibitor, water softener, and scale dispersant is one of the primary drivers driving the industry. Fatty amine is used for wastewater treatment in various industrial facilities, refineries, and manufacturing industries, which has led to increased demand within the water treatment business.

Water supplies have been under significant strain in recent years due to the rising global population, increased demand for clean water in industrial applications, and the impact of climate change, which has resulted in water scarcity worldwide, necessitating the need for water filtration activities. Factors such as these have been propelling the growth of the fatty amine industry.

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Key Takeaways from the Market Report

The fatty amine industry in the United States is expected to increase at a 4.5% CAGR through 2033.
From 2023 to 2033, China is set to register a CAGR of 6.5%.
France is expected to register expansion at a 3.2% CAGR from 2023 to 2033.
The fatty amine industry in Japan is predicted to flourish at a 4% CAGR over the projected period.
The United Kingdom is forecast to advance at a 3.6% CAGR over the projected period.
By product type, tertiary amine is expected to accumulate a 48.7% revenue share in 2023.
Fatty amine is expected to be extensively used in water treatment, yielding 23.7% revenue in 2023.

“Increasing emphasis on biodegradable and sustainable fatty amine products, driven by environmental awareness as well as regulatory challenges, will affect the strategies and developments of players in the industry for fatty amines,” Says an Analyst at Future Market Insights, Inc.

Competitive Landscape

Due to the prevalence of regional and small-scale manufacturers, most large corporations obtain raw materials from regional or local businesses. The more experienced rivals invest much in research and development to launch new products. This will create appealing opportunities for the sector in the near future.

Key companies profiled

Clariant AG
Albemarle Corporation
Akzo Nobel N.V.
Evonik Industries AG
Kao Corporation
Arkema S.A.
Eastman Chemical Company
Solvay S.A.
E.I. du Pont de Nemours & Co.
Procter & Gamble Company
Lonza Group Ltd
Indo Amine Ltd
Sterling Auxiliaries Pvt. Ltd.
Wuxi Zhufeng Fine Chemical Co., Ltd.
NOF CORPORATION
Nouryon

Key Developments

In 2022, Clariant, a sustainable, focused, and inventive specialty chemical company, has agreed to a formal deal to sell its Quats division. It has been sold to Global Amines Company Pte. Ltd. through a joint venture that is owned 50% by Clariant and 50% by Wilmar, Asia’s top agricultural company, as well as global oleochemicals company.
Akzo Nobel NV announced its Collaborative Sustainability Challenge in 2023, encouraging partners across the value chain to work on a shared carbon reduction strategy. They continue to invest in new equipment and facilities. In 2022, they opened a new €11 million worldwide research and development center at its Slough, United Kingdom, site.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the fatty amine industry, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the fatty amine industry, the industry is segmented on the basis of product type (primary amines, secondary amines, and tertiary amines), end use (agrochemicals, water treatment, construction, oil field chemicals, personal care, textile industry, others) and across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and 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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UV Tapes Market Forecast: Strong Growth Driven by Electronics and Semiconductor Applications

The global UV tapes market, valued at USD 558.4 million in 2023, is poised for significant growth, projected to reach USD 1,297.9 million by 2033. This remarkable expansion, at an estimated CAGR of 8.8% during the forecast period, underscores the increasing demand for UV tapes across various applications, including electronics, semiconductors, and automotive industries. The growing adoption of advanced manufacturing technologies, coupled with the rising need for efficient and reliable adhesive solutions, is driving the market forward.

Key Takeaways:

The UV tapes market is estimated to register a valuation of US$ 558.4 million with a CAGR of 8.8% in 2023.
In the historical period, the market secured a valuation of US$ 512.3 million with a CAGR of 9% in 2022.
The United States is estimated to secure a share of 31% in the global market during the forecast period.
With a share of 12.3%, Germany is estimated to drive the global market by 2033.
Japan is anticipated to drive the global market with a share of 5.1% in the global market by 2033.

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The Popularity of UV Tapes Upsurge the Global Market

The demand for UV tapes is a significant drive in the global market due to their design to cure using ultraviolet light. These tapes are widely used in several end-use industries, such as healthcare, electronics, and automotive. The popularity of UV tapes is attributed to various factors, including:

UV tapes are highly adopted due to their various advantages compared to traditional tapes, including chemical resistance. These tapes provide strong bonds, high temperatures, fast curing times, and high chemical resistance. The popularity of UV tapes is rising due to their versatility, durability, and reliability.

The demand for electronic devices is increasing, surging the adoption of UV tapes. These tapes are heavily used in manufacturing, electronics, semiconductors, and printed circuit boards. These tapes reduce damage to sensitive electronic goods and expand the market size.

The adoption of UV tapes is gaining huge popularity for their eco-friendly nature. These tapes are making the environment more friendly by reducing carbon footprints. Adopting advanced technology, such as UV curing technology, further fuels the global market.

These factors are estimated to continue to drive the global market during the forecast period. Manufacturers are continuing to innovate advanced products to attract more consumers.

How Key Players Uplift the Global Market?

The global market is highly fragmented by the number of key players globally. These players are making innovative, improved, advanced products to satisfy consumers’ desires. They are investing huge amounts in research and development activities to develop innovative products to uplift the market size.

Key players are filling their gaps after taking feedback from their genuine consumers to increase their sales. They adopt various marketing strategies to drive the market to another level. These marketing tactics are mergers, acquisitions, collaborations, product launches, and partnerships.

Recent Developments in the Global Market are:

In 2021, Nitto Denko Corporation announced its newly launched UV-curable tapes. These tapes are developed for various medical, electronics, and automotive applications. The company invests in research and development to enhance the performance of its UV tapes.

UV Tapes Market Players

BASF SE
Henkel AG & Company
The Furukawa Electric Co. Ltd
Mitsui Chemicals Group
AI Technology Inc.
Denka Company Limited
Ultron Systens Inc.
Nitto Denko Corporation
Lintec Corporation
Sumitomo Bakelite Co. Ltd.

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UV Tapes Market by Category

By Product Type:

Polyolefin (PO)
Polyethylene Terephthalate (PET)
Polyvinyl Chloride (PVC)
Others

By Application:

Wafer Dicing
Back-grinding
Others

By Region:

North America
Latin America
Europe
Asia Pacific
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 ~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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