Mobile Cranes Market to expand at nearly 6% CAGR through 2031

Mobile Cranes Market is set to expand at nearly 6% CAGR through 2031. The latest edition of the mobile crane market study builds upon the previous, widely cited report by Future Market Insights (FMI). After the unprecedented events of 2020, it has become important to capture the impact of COVID-19 and recalibrate our findings with the actual market scenario.

This edition (2021-2031) brings readers up-to-date with the key developments in mobile cranes market, providing analysis on how manufacturers and other stakeholders are reacting to change. Key industry metrics have been captured, and their impact on mobile crane sales has been analyzed.

Global mobile crane sales are in recovery phase, mimicking broader cues in the heavy equipment category. The uncertainty surrounding construction sector continues to impact new sales although long-term prospects remain positive. The updated edition of ‘Mobile Cranes Market’ study by ESOMAR-certified firm Future Market Insights recalibrates the previous findings, adjusting the forecast for COVID-19 impact.

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According to the study, recovery in construction, shipping, and oil & gas will be key to mobile crane sales in 2021. Vaccination programs and optimism that China and India may not be heading for a second pandemic wave have raised hopes of a recovery in 2021. However, the slowdown induced by the pandemic will entail a long road to recovery, and in FMI’s survey with manufacturers and stakeholders, this sentiment was palpable.

China Remains a Key Market for Mobile Crane Manufacturers

Early recovery and lowering fears of a second wave have given China an edge over US and Europe in terms of COVID-19 economic recovery. Further, the government in China is heavily investing in road and infra projects, which has led to a spike in heavy equipment machinery.

According to FMI’s analysis, mobile crane manufacturers are looking to strengthen their position in APAC to offset the weakness in US and Europe. China, along with India are likely to see heightened activity from market players during the next decade.

Key Takeaways from Study

  • Crawler cranes continue to be a top-selling category
  • All terrain mobile cranes to emerge lucrative in terms
  • Recovery in construction sector key to growth in
  • APEJ (Asia Pacific Excluding Japan) to exhibit fastest growth rate through 2031 with its epicenters in China & India
  • The United States to hold the major share in the North America mobile cranes industry
  • Germany to maintain its lead in the mobile cranes industry of Europe
  • The United Kingdom, Canada, Japan, France, and a few others to maintain positive outlooks for mobile cranes industry

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“While increase in requirement from residential, commercial, and industrial construction sectors is spurring the growth of mobile crane manufacturers, availability of new products with wider variety is driving more potential buyers to this industry. This in turn is creating unlimited new opportunities for stakeholders in mobile cranes market,” says an FMI analyst.

Oil & Gas Industry will Provide Long-term Momentum

Oil & gas industry being a dominant end-use industry of mobile cranes, will be key to mobile crane sales in the long-term. According to the report titled “Oil 2020- Analysis” published by the International Energy Agency (IEA) on March, 2020, the global oil demand is expected to rise by a total of 5.7 mb/d, with China and India accounting for about half of growth.

As stated in the report, the world’s oil production capacity is expected to rise by 5.9 mb/d, while Non-OPEC supply will rise by 4.5 mb/d, and OPEC will build another 1.4 mb/d of crude and natural gas liquids capacity. These figures reveal the high potential of the mobile cranes industry.

Who is Winning in this Space?

The global mobile cranes market is extremely competitive in nature. As key market players are focusing on increasing their sales footprint further, they are coming up with wide variety of products.

For instance,

  • Liebherr Group launched its new LTM 1150-5.3 Wheeled Mobile Telescopic Crane in 2020
  • Terex Corporation announced selling of its Demag® Mobile Cranes Business in order to increase their profitability in 2019, while they launched new range of products such as TEREX® Rough Terrain Cranes, TEREX® Tower Cranes, and others

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More Valuable Insights

In its latest report, FMI offers an unbiased analysis of the global mobile cranes 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 product type (truck cranes, all terrain cranes, rough terrain cranes, crawler cranes, and others) and application (construction industry, oil & gas industry, shipping & port building, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

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Mammalian Transient Protein Expression Market : Value Chain, Stakeholder Analysis and Trends by 2030

Global mammalian transient protein market revenues are projected to surpass US$ 540 million in 2020, according to a new study by Future Market Insights (FMI). The report also states that, innovations in automation and recombinant proteins will support market developments, however, prohibitive costs and complexity to maintain media purity remain challenges.

Key Takeaways on Mammalian Transient Protein Expression Market

  • The size of the mammalian transient protein expression market is estimated to reach approximately US$ 540 Mn by the end of 2020, with antibody and therapeutic protein production applications being the primary factors driving growth in the industry.
  • Biopharmaceutical companies will remain prominent end-users of mammalian transient protein expression, while CROs are also likely to reflect steady growth on the back of biologics and drug development endeavours.
  • Chinese hamster ovary cells in terms of cell lines reflect relatively higher demand, owing to applications in academic and research uses, accounting for ~70% of market share by 2030.
  • North America followed by Europe are leading markets for mammalian transient protein expression, access to cutting edge healthcare technologies, and the presence of leading market players.

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Covid-19 Impact on Mammalian Transient Protein Expression Market

The Impact of the covid-19 pandemic on the mammalian transient protein expression market has largely been negative. Strict lockdown and social distancing regulations has resulted in delayed projects in research and biomedicine applications.

Also, market players have witnessed lower sales and revenue during the crisis period arising from supply chain disruptions, and shortage of adequate manpower. On the other hand, potential for applications in vaccine development is likely to provide opportunities for short-term growth, moderately mitigating loss during this period.

Who is Winning?

In its latest report, Future Market Insights has provided details on key business strategies that are gaining importance in the mammalian transient protein expression market. Market leaders in the industry have been pushing on the expansion of their portfolios with offerings associated to antibody development and gene coding. Also, strategic collaborations are gaining ground in the sector.

Merck KgaA, Thermo Fisher Scientific, Agilent Technologies Inc., Lonza, Mirus Bio Inc., Takara Bio Inc., Qiagen N.V., and Bio-Rad Laboratories Inc., are some of the key companies operating in the mammalian transient protein expression market.

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Why Future Market Insights?

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

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

About FMI:

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

North America Outbound Medical Tourism Services Market 2016-2026 by Top Key Players- Apollo Hospital Enterprise Limited, KPJ Healthcare Berhad, Christus Muguerza Hospital, WorldMed Assist.

Future Market Insights offers a 10-year forecast for the North America outbound medical tourism services market. The primary objective of the report is to offer updates and information related to market opportunities in the North America outbound medical tourism services market. Our study demonstrates key market dynamics expected to influence the current environment and future status of the North America outbound medical tourism services market over the forecast period (2016 – 2026). In this report, we present useful insights on key trends, drivers, restraints, value forecasts, and opportunities for companies operating in the North America outbound medical tourism services market.

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Report description

To understand and assess opportunities in the North America outbound medical tourism services market, we have presented the market forecast for the different therapeutic applications (Cosmetic Surgery Treatment, Dental Treatment, Cardiovascular Treatment, Orthopaedic Treatment, Cancer Treatment, Fertility Treatment, Weight Loss Treatment, Spinal Surgery Treatment, Neurology Treatment, Other General Treatment) across the two major North American countries U.S and Canada. The report provides analysis of the North America outbound medical tourism services market in terms of market value (US$ Mn) and volume.

The report begins with the market definition followed by definitions of the different outbound medical tourism services and different therapeutic applications. The market dynamics section includes our in-depth analysis of the key trends, drivers, restraints, opportunities, and macro-economic factors influencing the growth of the North America outbound medical tourism services market. The subsequent sections analyse the North America outbound medical tourism services market on the basis of therapeutic applications and countries and present a comprehensive market forecast in terms of value for the next 10 years. Our study further discusses key trends within the two countries contributing to the growth of the regional market and analyses the degree to which drivers are influencing the market in each region.

In the final section of the report, we have included a competitive landscape to provide a dashboard view of key companies operating in the North America outbound medical tourism services market. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the North America outbound medical tourism services market and the potential players. This section also includes market strategies and a SWOT analysis of the main players operational in the North America outbound medical tourism services market. We have also covered detailed profiles of the key players operating in the North America outbound medical tourism services market to evaluate their long- and short-term strategies, key offerings, and recent developments in the North America outbound medical tourism services market.

Research methodology

We have leveraged extensive secondary research to ascertain overall market size and top industry players. Critical market data has also been acquired through personal interviews with key stakeholders in the North America outbound medical tourism services market. Data gathered through comprehensive primary and secondary research has been validated by the triangulation method and further scrutinised using advanced tools to arrive at useful qualitative and quantitative insights. Given the ever-fluctuating nature of the global economy, we have not only conducted our forecasts in terms of CAGR, but have also analysed the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the North America outbound medical tourism services market.

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Another important feature of our report is the analysis of key market segments in terms of absolute dollar opportunity, critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales and delivery perspective for services offered by the North America outbound medical tourism services market. Further, to understand key segments in terms of growth and performance in the North America outbound medical tourism services market, Future Market Insights has developed a market attractiveness index to help providers identify existing market opportunities across the North America outbound medical tourism services market.

Explore Wide-ranging Coverage of FMI’s Healthcare Landscape

Mammalian Transient Protein Expression Market – The mammalian transient protein expression market has reflected steady growth on the back of growing demand from the biomedicine sector. Efforts into vaccine development continue to create possibilities for new opportunities.

In Vitro Fertilization Banking Services Market – According to the Centers for Disease Control and Prevention (CDC), about 10% of women in the United States between ages 15 to 44 years have infertility while the rate of male infertility is 4.5-6% in North America.

Cryopreservation for In-vitro Fertilization (IVF) Market – According to analysis by Future Market Insights (FMI), cryopreservation for IVF market surpassed a valuation of US$ 339 million in 2019. The market is set to reflect an impressive 10.2% CAGR through 2030.

Rapid Infuser Market Is Set to Experience Revolutionary Growth by 2030

The global rapid infusers market has relatively less impacted by the COVID-19 pandemic, with a new report by Future Market Insights (FMI) estimating market revenues to grow at 4.5% through 2030. While growing focus on advanced and novel care is driving growth, high cost, combined with concerns about efficacy continue to limit adoption.

A new study published by Future Market Insights estimates global rapid infuser market to surpass US$ 817 million in 2020. As clamor for efficient treatment options for excessive blood loss and hypothermia in trauma and operative settings grows, adoption of novel techniques, including rapid infusers is witnessing growth. The report analyzes rapid infuser market in over 20 countries, provider readers with in-depth analysis on key factors influencing market growth.
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Massive Transfusion Applications Drive Demand

Massive transfusion is the practice of transfusing 10 or more RBC products within a period of 24 hours, which has become increasingly mainstream amidst pediatric patients.

It is crucial for time-restrained operations where blood typing cannot be completed. The transfusion of AB plasma and O RBCs through rapid infusers will remain critical in such emergency procedures.

According to the CDC, 2019 saw more than 48 million surgical and non-surgical procedures. This has resulted in a substantial demand for blood, plasma, and crystalloid fluids, many of which require rapid infusers. Similar statistics in other parts of the globe, indicate potential for sustained growth in the near future.

Key Takeaways

  • Market revenues will surpass USD 817 million, with anaesthesia, and emergency healthcare applications being the primary driving factors
  • Hospitals will remain the leading end users, while ASCs are also likely to reflect steady growth on the back of growing adoption in outpatient medical procedures.
  • Trolley mounted offerings continue to witness market preference, owing to portability and ease of use in hospital settings, accounting for ~70% of market share.
  • North America followed by Europe, are leading regional markets for rapid infusers, supported by the massive investments into the healthcare sector, and easier access to new hospital and emergency care technologies.

“The global market for rapid infusers is driven by growing number of surgical procedures and high risk of hypothermia and hypovolemia. This product is also widely considered an important intervention in life-threatening ailments such as sepsis. These issues are major influencers in terms of market development through the forecast period,” said a lead analyst from FMI.

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Covid-19 Impact on Rapid Infusers Market

The COVID-19 pandemic is expected to marginally impact the rapid infusers market. Demand largely remains stable as rapid infusers are standard equipment in most healthcare facilities for critical care applications. The demand for reusable rapid infusers is likely to fall in favor of single-use alternatives, owing to concerns over viral transmission.

Potential disruptions of raw material and component supplies due to lockdown and trade restrictions are concerns. However, the essential natures of the products, makes the industry largely exempt from government restrictions. Demand is unlikely to change substantially even in the post-pandemic period as applications in urology, gynecology, and ICUs continue unabated.

Who is Winning?

In a new report, Future Market Insights has provided comprehensive details on essential business strategies that find roles in the rapid infusers market. Market leaders in the industry have been emphasizing on the expansion of their portfolios with efforts on product research. Also, strategic acquisitions are gaining ground in the industry.

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3M, GE Healthcare Inc., ZOLL Medical Corporation, Stryker Corporation, Teleflex Incorporated, Smith’s Group plc, Soma Technology Inc., Smisson-Cartledge Biomedical, and Becton, Dickinson and Company are some of the key companies operating in the rapid infuser market.

More Insights

The Future Market Insights report has given readers a detailed analysis of the global rapid infusers market, with critical information on historical demand (2015-2019) and for forecast statistics (2020 – 2030). The report also encompasses a detailed analysis in terms of costs, pricing, and other major dynamic factors that influence tech developments and production decisions for rapid infusers in varied healthcare applications.

India Electrical Testing Services Market Exhibiting 7.1% CAGR through 2031

Electrical testing services market is set to be valued at US$ 6.8 Bn in 2021 with a stable long-term projection, according to latest insights from Future Market Insights (FMI), an ESOMAR-certified research and consulting firm. The report forecasts the electrical testing services market to grow at nearly 7.1% CAGR during 2021-2031.

Due to the economic impact of COVID-19, the demand for electrical testing services declined in 2020. Nevertheless, as economies get back on track, it will lead to recovery of operations across various industries. In turn the demand for electrical testing services will grow.

Technological advancements in electrical services have resulted in greater complexity in maintenance work and services. Therefore the demand for electrical testing services designed to complement complex industrial network will rise in the coming years.

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Key Takeaways of North America Electrical Testing Services Market Study

  • In terms of service type, the demand for transformer testing and circuit breaker testing will remain considerably high through the forecast period.
  • The U.S. will emerge as a highly lucrative market, accounting for maximum demand for electrical testing services in North America.
  • Industrialization in China, will support expansion of the electrical testing services market in Asia Pacific.
  • Favorable government policies and expansion of power generation stations will continue supporting growth in India.

“Surge in the demand for more efficient electrical devices and electrical machinery in various sectors will present attractive scope for sales of electrical testing services. In order to gain competitive strength, the market players are expected to focus on expanding their footprint in emerging markets” says a FMI analyst.

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Competitive Landscape

The market is moderately consolidated, with key players accounting for more than half of the market share. These players are likely provide long-term service guarantee with annually maintaining contract. Some of the key players in the market are Schneider Electric, Siemens AG, Eaton Corporation plc, General Electric Company, ABB Inc., RESA Power LLC, Voltech Engineers Pvt. Ltd., DNV GL, Dobel Engineering Company, Power Products & Solutions, American Electrical Testing, Haugland Group LLC, Dekra, TCS Electrical Co., Phase One Electric, Intran, GEM Electrical Services and Electric Power Systems.

Global Electrical Testing Services Market Projection

Electrical Testing Services market is likely to grow at a moderate pace during 2021-2031. As the market have competition intensity due to the offered service rate and durability of service from recognized service team. Due to the new technological evolvement in the testing equipment it makes easier for service/testing person to do it more efficiently. The companies are providing AMC for their products only due to compatibility of the parts/material used.

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In Vitro Fertilization Banking Services Market to Garner Brimming Revenues by 2030

The global in vitro fertilization banking services market is slated to exhibit a robust CAGR of 11% over the assessment period of 2020-2030. This growth can be predominantly attributed to growing cases of infertility all over the world on account of work pressure, stress, food habit, changing lifestyle, and others, the need for IVF, ICSI (Intracytoplasmic Sperm Injectiom), and others has augmented significantly. This consecutively is boosting the market growth.

The in vitro fertilization banking services market, despite undergoing a temporary period of lull due to COVID-19 outbreak, is likely to have an impressive growth trajectory between 2020 and 2030.

Besides lucrative prospects in Europe, the market will continue witnessing high demand in East Asia. Expansion of healthcare sectors in high potential markets will remain a chief growth driver. Future Market Insight’s (FMI’s) study on the in vitro fertilization banking services market uncovers hidden opportunities besides presenting a refined forecast for the assessment period.

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“Launching advanced IVF techniques for instance, three parent IVF, genetic diagnosis, three-parent, percutaneous epidydimal sperm aspiration, along with others are considered innovatory findings in the field of medicine. Furthermore the growing predominance of fertility concerns, rising awareness amid patients and their willingness to expend on advanced treatment procedures is likely to generate lucrative development prospects for the market.” says an FMI analyst.

In Vitro Fertilization Banking Services Market – Key Highlights

  • Europe to sustain its prevalent position throughout the forecast period due to growing rate of infertility in the region.
  • Egg banking will lead among service type segment in the global market.
  • Growing demand for andrology services is anticipated to expand expansion prospects.

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Drivers

  • Rise in infertility rate across the globe due to lifestyle, stress, and others is likely to spur market growth.
  • Increasing cases of cancer has resulted in infertility rate among women and men, thus ensuing in surging demand for in vitro fertilization.
  • Increasing investment to obtain secure and safe egg/sperm storage facility together with the growing focus on cost-efficient services is bolstering the market growth.

Restraints

  • Restricted adoption of the services owing to being time consuming and costly, limits market growth over the forecast period.
  • Risks related to IVF process such as egg-retrieval procedure complications, ovarian hyperstimulation syndrome, along with others work as the constraint for the market growth.

COVID-19 Impact on the Market

The market has been adversely impacted by the COVID-19 outbreak as it is a costly and time consuming procedure. As the attention in healthcare sector shifted towards emergency services, the demand for has been dropped substantially impacting the market growth. However, the market is anticipated to get back to its feet by 2021 end generating abundant opportunities for the key players.

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Competitive Landscape

FMI opines that the in vitro fertilization banking services market is expanding fast, the key market players are projected to face harsher competition amid the assessment period. Some of the major players include MyEggBank, The World Egg Bank, Cryos International, Fairfax Cryo Bank, Seattle Sperm Bank, European Sperm Bank, Boston IVF´s network and CCRM´s network.

Cryopreservation for In-vitro Fertilization (IVF) Market to Witness a Healthy Growth by 2030

The global cryopreservation for in-vitro fertilization (IVF) market is likely to grow steadily with substantial improvements to pregnancy success rates in long term storage for reproductive materials. Favorable changes in regulations toward single parents, same sex couples, and older couples will create opportunities.

According to analysis by Future Market Insights (FMI), cryopreservation for IVF market surpassed a valuation of US$ 339 million in 2019. The market is set to reflect an impressive 10.2% CAGR through 2030.

As per the latest market study by Future Market Insights (FMI), the cryopreservation for IVF market is expected to grow at an impressive 10.2% CAGR through 2030. According to the report, innovations in terms of vitrification processes, especially for oocyte preservation aids market developments.

Despite the strong growth of cryogenics in the healthcare sector, prohibitive costs and strict rules on IVF treatments, coupled with complexities and limitations of tech in the market hold back growth.

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Key Takeaways on Cryopreservation for IVF Market

  • The cryopreservation for IVF market size surpassed US$ 339 Mn in 2019, with market growth witnessing a moderate slump throughout the duration of the covid-19 outbreak, as lockdown restrictions hinder supply chains, and consumers redirect expenses towards essential commodities.
  • IVF clinics will continue as the leading user of cryogenics in IVF treatments, the segment is projected to account for more than 60% of the overall market share over the forecast period.
  • Cryogenic liquid cylinders are witnessing high demand in the cryopreservation for IVF market, aided by the wide scope of application in vitrification processes.
  • East Asia will remain a leading regional market for cryopreservation in IVF centres, supported by relatively lower costs of healthcare and positive changes to population policies. Also, Latin America is expected to display strong growth owing to research applications.

“Higher rates of infertility have become a global issue. Strict regulations in numerous countries restrict couples from choosing fertility treatment, which has pushed couples to seek treatment in other regions bolstering to fertility tourism. With reductions in costs of cryogenics this factor will positively influence market developments,” said a lead analyst from FMI.

Covid-19 Effects on Cryopreservation for IVF Market

The cryopreservation for IVF sector has been negatively impacted by the ongoing covid-19 pandemic. Concerns over procedures and precautions in terms of handling seropositive patients are influencing short-term developments. Also, the risk of cross contamination and viral transmission during cryogenic procedures will limit adoption during this period.

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Cryogenic device production facilities have been affected by lockdown regulations, while restrictions on elective medical procedures have also hurt market developments. The market is expected to recover towards 2021 with rebounding consumer spending on cryogenics and IVF treatments in the post-pandemic era.

Competitive Landscape

Leading market players in the moderately fragmented cryopreservation for IVF market have been largely focused on investments into product development and launches. Also, market players are also emphasizing on strategic collaborations and the expansion of infrastructure to improve access to consumers.

For instance, in August 2020, Future Fertility, based in Canada launched Violet, a cloud-based software for assessing the probability of oocytes successfully fertilizing prior to being exposed to cryogenic storage processes.

CU Advanced Reproductive Medicine (CU ARM) in December 2019, announced the acquisition of the world’s very first Cryo Sentinel Monitoring system to minimize the risk of storage accidents for eggs, sperm, and embryo, which provides adequate warning in terms of liquid nitrogen depletion.

Extend Fertility has announced the expansion of its fertility portfolio apart from its leading segment of proactive egg freezing. This includes full spectrum in vitro fertilization processes, while also cutting down prices to improve access to consumers.

Such changes in the market are likely to generate major lucrative opportunities for cryopreservation for IVF market participants for the forecast period.

Aside from these market participants, other leading players in the market include:

  • Thermo Fisher Scientific Inc.
  • MilliporeSigma
  • Fujifilm Irvine Scientific Inc.
  • Vitrolife AB
  • Kitazato Corp.
  • Brooks Life Sciences
  • Corning Inc.
  • Bio-Match Tech Ltd.
  • Cryo Solutions B.V.
  • Cryogatt Systems Ltd.
  • Kustodian Ltd.
  • ColdStash
  • TMRW Life Sciences Inc.
  • Vitromed GmbH
  • Cryotech
  • Cook Medical LLC
  • Worthington Industries Inc.

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Key Questions Answered in the Report

What is the near-term competitive outlook of the global cryopreservation for IVF market?

Pharmacy Automation Systems Market expected to expand at a CAGR of 6.3% during the forecast period 2022–2027

According to a recent market report published by Future Market Insights titled “Pharmacy Automation Systems Market – Global Industry Analysis and Opportunity Assessment, 2016–2026,” the global Pharmacy Automation Systems market was valued at US$ 3,344.7 Mn in 2016, and is expected to register a CAGR of 6.2% from 2016 to 2026.

Pharmacy Automation Systems are increasingly being installed by various end-users such as hospital pharmacies, clinic pharmacies, retail pharmacies, mail order pharmacies and pharmaceutical SMEs.  There is an increase in the usage of Pharmacy Automation Systems in hospital pharmacies due to an increase in the demand for medication dispensing cabinets to provide formulary across health system to support nurses and pharmacists to manage the medication dispensing and administration. Moreover, there is a rise in the usage of Pharmacy Automation Systems in the clinic pharmacies, retail pharmacies, mail order pharmacies, and pharmaceutical SMEs.

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There is an increasing inclination of pharmacists for automation systems as it automates time-consuming and routine tasks such as medication compounding, packaging, dispensing, storage and retrieval, etc. Also, these automation solutions streamline pharmacy workflow and also reduce risk of errors, which enables physicians to focus on direct patient-care activities. The system streamlines the outpatient and inpatient drug dispensing process by ensuring the appropriate drug reaches the right patient at the right time. Therefore, increasing number of pharmacists opt for pharmacy automation systems to eliminate the risk of errors which otherwise are caused due to manual compounding and dispensing of medications. This, in turn is anticipated to drive the revenue growth of pharmacy automation systems market in the near future.

Pharmacy automation systems comprises automated cabinets, barcode systems and automated dispensing systems, tablet splitters, etc. that enable pharmacists and healthcare providers to have real-time access to the stock along with proper inventory management.

Also, pharmacy automation systems provide enhanced safety to patients requiring medications. Automation in pharmacy also reduces number of staff required to manage and control pharmacy operations that in turn reduces labor cost. Increasing awareness about these benefits of pharmacy automation technologies is expected to fuel the demand for pharmacy automation systems in the near future.

However, the higher cost of automated dispensing systems, vial filling robots, tablet counting machines is a major factor hampering its adoption of pharmacy automation systems across resource poor countries. Typical vial-filling robots will automate approximately 45% of daily retail pharmacy prescription volume at an initial installation cost of approximately US$ 200,000. Moreover, the higher maintenance costs associated with these systems installation along with exorbitant pricing for training and development program for end users impede the practical implementation of pharmacy automation systems. Thus, decreased adoption of pharmacy automation systems in small retail pharmacies, has led to decrease in market growth.

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The global pharmacy automation systems market is categorized on the basis of product type, the pharmacy automation system market is segmented into medication dispensing cabinets, packaging and labelling systems, IV pharmacy (automated drug compounding), robotic dispensing systems, carousal storage systems and tablet splitters. In terms of revenue share, medication dispensing cabinets (ADC) dominated the global pharmacy automation systems market in 2016 and is expected to retain its dominance throughout the forecast period.

On the basis of application, the Pharmacy Automation Systems market is segmented into drug dispensing & packaging, drug storage and inventory management. In terms of revenue share, drug dispensing and packaging dominated the global pharmacy automation systems market in 2016 and is expected to do so throughout the forecast period. The inventory management application segment is anticipated to expand at the fastest CAGR during the forecast period.

On the basis of end-use industry, the global pharmacy automation system market is segmented into hospital pharmacies, clinic pharmacies, retail pharmacies, mail order pharmacies and pharmaceutical SMEs.  Hospital pharmacies currently account for the highest revenue in the pharmacy automation systems market due to increasing usage of pharmacy automation systems in hospitals in developed countries.

This pharmacy automation systems market report also covers trends that drive each segment and offers analysis & insights regarding the potential of the pharmacy automation systems market in regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa. Among these regions, the APEJ pharmacy automation systems market is projected to exhibit relatively high growth in the global pharmacy automation systems market with a CAGR of   8.2% during the forecast period. Revenue from the pharmacy automation systems market in North America is estimated to account for over 62.3% of the global pharmacy automation systems market revenue in 2016. The pharmacy automation systems manufacturers and technology providers can focus on expanding across several countries in APEJ such as India and China.

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Some of the key competitors in the pharmacy automation systems market are AmerisourceBergen Corporation, Baxter International Inc., Swisslog Holdings AG, Care Fusion Corporation, Cerner Corporation, Kirby Lester LLC, Talyst, LLC., Omnicell Inc., and ScriptPro LLC Corporation;  Inc. These key players are constantly focusing on product innovation and geographical expansions to sustain their market presence and increase revenue generation by developing various types of solutions and delivering outstanding offerings to several end-users.

Global Portable Oxygen Concentrators Market Projected to Be Valued at US$ 2637.7 Mn by 2026 End

The global portable oxygen concentrators market revenue is projected to reach a market valuation of US$ 1246.1 Mn by 2016 end and register a CAGR of 7.8% during the forecast period 2016-2026.

According to a latest report published by Future Market Insights titled “Portable Oxygen Concentrators Market: Global Industry Analysis and Opportunity Assessment, 2016–2026,” the global portable oxygen concentrators market is anticipated to register a CAGR of 7.8% between 2016 and 2026 in terms of value.

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Portable oxygen concentrators supply oxygen to patients suffering from respiratory diseases such as chronic obstructive pulmonary diseases.

The concentrator separates nitrogen and oxygen from air in the environment and then supplies 95% pure oxygen to patients. POCs are easy to carry as they are smaller in size compared to stationary concentrators. Moreover, POCs are of great use to mountaineers and travellers in places where oxygen is inadequate.

According to Future Market Insights, the global portable oxygen concentrators market is likely to witness substantial growth owing to increasing prevalence of chronic obstructive pulmonary diseases, growing consumer awareness for oxygen therapy devices, and a changing consumer lifestyle.

Further, adoption of new technologies in medical devices, increasing government expenditure towards healthcare and medical devices development and production, and a rise in investment by companies manufacturing homecare products is likely to boost the growth of the global portable oxygen concentrators market during the forecast period (2016 – 2026). However, high product costs and stringent FDA regulations pertaining to medical devices are some of the factors likely to restrain the growth of the global portable oxygen concentrators market during the forecast period.

Segmentation highlights

The global portable oxygen concentrators market has been segmented on the basis of Product into Continuous Flow Portable Oxygen Concentrator and Pulse Flow Portable Oxygen Concentrator; and on the basis of End User into Hospitals, Homecare, Ambulatory Surgical Centres, and Travel Agents.

  • The Pulse Flow Portable Oxygen Concentrator product segment is projected to be valued at US$ 1890.3 Mn by 2026, registering a CAGR of 9.0% over the forecast period
  • The Homecare end user segment is projected to be valued at US$ 1820.5 Mn by 2026 and is likely to witness a CAGR of 9.0% over the forecast period

Regional market projections

The global portable oxygen concentrators market is segmented into the seven key regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, MEA, and Japan. Growing geriatric population consequently increasing the requirement for homecare settings particularly in high income countries with increasing number of patients suffering from chronic obstructive pulmonary diseases is expected to result in significant growth of the North America portable oxygen concentrators market.

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The North America region is expected to report incremental opportunity of US$ 781.7 Mn between 2016 and 2026. Evolution of health insurance system is expected to contribute largely to the revenue generation potential and attractiveness of the Eastern Europe portable oxygen concentrators market.

Rising adoption of portable oxygen concentrators in chronic obstructive pulmonary diseases patients for better care is expected to fuel revenue growth in the Japan portable oxygen concentrators market over the forecast period. High product cost of portable oxygen concentrators is expected to hamper sustainable adoption in the APEJ region. Lack of product awareness is expected to hamper market growth in the APEJ and MEA regions.

Vendor insights

The report profiles some of the top companies operating in the global portable oxygen concentrators market such as Koninklijke Philips N.V., Inogen Inc., Chart Industries Inc., Resmed Inc., Invacare Corporation, Drive DeVilbiss Healthcare, Precision Medical Inc., Besco Medical Co. Ltd., Oxus America, Inc. (Oxus), Foshan Keyhub Electronic Industries Co. Ltd., O2 Concepts LLC, and GCE Group. Key strategies adopted by leading market players in the global portable oxygen concentrators market include product approvals and commercialisation, efficient entry into markets in emerging countries, and adoption of latest innovative technologies in healthcare, thus strengthening regional proficiency and addressing customer needs effectively. New product launches, product innovation, and geographical expansion are anticipated to form the core of these strategies during the forecast period.

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More from FMI’s Healthcare, Pharmaceuticals and Medical devices Market Intelligence:

Poultry Keeping Machinery Market 2022 by Global Key Players, Types, Applications, Countries, Industry Size and Forecast to 2029

The newest market research study by Future Market Insights on poultry keeping machinery finds that the market was valued nearly at US$ 4.5 Bn in 2018, and is projected to grow by ~3% CAGR during the forecast period of 2019-2029. The study mainly attributes the rise in consumption of poultry meat for the positive growth prospects of the poultry keeping machinery market. The poultry keeping machinery market has a high potential to grow in regions such as Latin America, Asia Pacific excluding Japan and North America, according to the study.

Significant product innovation over the next decade with advanced technologies meeting regulations and animal welfare norms are expected to emerge as a product differentiator for the market. Automation of agricultural and farm equipment and demand for advanced and cost-effective poultry keeping machinery from new poultry farms have increased significantly.

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Growing demand for progressive products is imposing pressure on the manufacturers to deliver technologically-advanced and unique product offerings, finds FMI. Thus, technological advancements have led to noteworthy investment in research & development by equipment manufacturers. Manufacturers in the poultry keeping machinery market focus on developing unique patented technologies, which act as product differentiators and help them earn a competitive edge.

From an investment viewpoint, birds such as turkey, ducks and broilers have high economic value as they adapt easily to any environment. They can be used for meat within eight weeks, and thereby, with expected increase in consumption, significant upsurge in investment in the poultry sector is expected, particularly in developing countries, countries in the Middle East Africa such as Iran and Tunisia.

APEJ Region to Provide Noteworthy Growth Opportunities for Manufacturers

With ongoing technological advancements and progression in agricultural and farm equipment over the years, automation is anticipated to emerge as the future of the poultry keeping machinery market in growing economies in the APEJ Region. Poultry keeping machinery manufacturers are focusing more on improving their market structures and offerings in the region.

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For the global poultry keeping machinery market, the APEJ region is projected to be a prominent region throughout the forecast period owing to the increasing consumption and production of poultry keeping machinery in China and India, along with North America, Latin America, Western Europe, and Eastern Europe. The growing focus on animal welfare worldwide has inclined consumer focus on the methods adopted in the production of the food produced from the farm.

Broiler Harvesting and Slaughtering Equipment to Remain Prominent Poultry Keeping Machinery

The division of the global poultry keeping machinery market has been done on the basis of product type, along with seven regions.

  • Based on product, poultry keeping machinery is commonly used in broiler harvesting and slaughtering, which is expected to contribute to the growth of the market in the coming years. It is anticipated to play a prominent role in the global poultry keeping machinery market throughout the forecast period. The other types of poultry keeping machinery such as vaccination, flooring, scales, nest, and cages, are also considered to project relatively high growth in the upcoming years.
  • Drinking and feeding poultry keeping machinery also have noteworthy benefits due to their reduced microbial load and improvement in feeding pellets to the farm animals. This will improve the growth performance through feed intake, which will result in weight gain. This feed conversion ratio will lead to healthy protein gain.

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Poultry Keeping Machinery Market: Vendor Insights

The global poultry keeping machinery report emphasizes on some of the principal industry players in the global poultry keeping machinery market. Some of the examples of the key players in the market are Valco Companies, Inc., Jansen Poultry Equipment, Vencomatic Group, Big Dutchman International GmbH, TEXHA PA LLC, Petersime NV, Hartmann Lebensmitteltechnik Anlagenbau GmbH, and HAMex-GmbH, among others.