Aromatherapy Market 2021 | Scope of Current and Future Industry 2029

Preference to alternative medicine such as aromatherapy is on a rise as people from all cultures are actively accepting the therapeutic use of aroma derived from plant-based essential oils.

Future Market Insights has recently published its study on the global aromatherapy market, projecting the US$ 3.8 billion market to soar at a healthy 7.7% CAGR and reach US$ 8,058.8 million valuation by end of 2026. Over the next decade, awareness regarding healing benefits of aromatherapy is expected to gain momentum. Medical centres providing therapeutic treatments will promote the use of aromatherapy in the treatment of generic ailments such as depression, anxiety, and headaches. Rising preference to aromatherapy will also be instrumented by its effectiveness in boosting cognitive performance, strengthening immunity, reducing pain, improving digestion and increasing blood circulation.

According to the study, North America and Western Europe are anticipated to remain dominant regions in the global aromatherapy market. By the end of 2026, aromatherapy revenues amassed from these two regions will surpass US$ 4 billion. Nevertheless, the aromatherapy market in Asia-Pacific excluding Japan (APEJ) region will register growth at the highest CAGR – 9.7%. Japan’s aromatherapy sales are also predicted to grow rampantly, while Latin America and Middle East & Africa (MEA) are likely to incur sluggish growth over the forecast period.

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Higher Demand for Aromatherapy Consumables

Diffusers and other equipment used for deriving the aroma of plant extracts will continue to be consumed at a rate lower than consumables. During the 2016-2026 forecast period, global revenues garnered from the sales of aromatherapy consumables such as essential oils, carrier oils and blended oils will account for over 85% of the overall market revenues. On the other hand, growth in revenues amassed from the sales of aromatherapy equipment will register a 7.8% CAGR. By 2026-end, global consumption of aromatherapy consumables, namely carrier oils and blended oils, will collectively bring revenues worth over US$ 2.5 billion. Meanwhile, the demand for evaporative diffusers will remain considerably higher than that of heat diffusers, nebulising diffusers and ultrasonic diffusers.

Skin & Hair Care – Prominent Application for Aromatherapy

A majority of people seeking aromatherapy intend to improve their physical attributes through skin rejuvenation and hair fall control facilitated by this therapy. Consumers opting for aromatherapy in skin and hair care applications have brought in an estimated US$ 837.9 million in global revenues by the end of 2016. These revenues are likely to grow at 8.1% CAGR, closing in on the US$ 2 billion benchmark by the end of 2026. Demand for aromatherapy is also expected to rise in the treatment of insomnia, pain management, and scar management. Relaxation is also projected to remain the widely-preferred application of aromatherapy in the world.

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In the report, titled “Aromatherapy Market: Global Industry Analysis & Opportunity Assessment, 2016-2026,” Future Market Insights has predicted that the topical mode of delivery for aromatherapy will gain traction over the forecast period. The report also estimates that combined global revenues, collected from delivering aromatherapy through aerial diffusion and direct inhalation, surpassed US$ 1,700 million in 2016. Utah-based companies such as Rocky Mountains Oil, doTERRA, and Young Living Essentials Oils are observed to be leading players in the global aromatherapy market. Companies such as Mountain Rose Herbs, Eden Garden, Frontier Natural Products Co-op (Aura Cacia) and Plant Therapy Essential Oils are also based in the U.S and recognised globally for partaking in the global market for aromatherapy.

Electronic Tongue Market Impacted by COVID-19, to Remain Dormant in Near Term, Projects FMI 2021-2029

Electronic tongue is a device which measures and compares tastes. Electronic tongue is also called e-tongue. Electronic tongue equipped with multiple sensors which detect dissolved organic and inorganic compounds. Electronic tongue applies pattern recognition method to predict the taste of the sample. Electronic tongue has several application in various industries areas such as the pharmaceutical industry, food and beverage industry, and the healthcare industry. In the pharmaceutical industry, electronic tongue can be used for assessment of API bitterness strength and quantify bitterness of masking material. Electronic tongue is used to better adherence and improvement of taste of drugs for paediatric and geriatric patient base. Pharmaceutical companies have introduced the taste sensing systems for better development of paediatric and geriatric formulation. Electronic tongue is entered into medical diagnostic market and provide non-invasive disease diagnosis.  The electronic tongue has used to detect and identify a wide array of disorders including mental health disorders and metabolic disorder by analyzing both liquid and vapour patient sample. Electronic tongue systems such as biomimetic cross-reactive sensor array are affordable and efficient for medical diagnosis.

Electronic Tongue Market: Drivers and Restraints-

Electronic tongue market is expected to accounts for a significant growth rate as technological advancement in the medical industry. Increasing demand for advanced and non-invasive diagnosis devices expected to favor the growth of the electronic tongue market. Growing research and development for new drugs manufacturing expected propel the growth of the electronic tongue market over the forecast period. Increasing adoption of advanced technologies and devices in pharmaceutical manufacturing units expected to ample the growth of the electronic tongue market. Increasing government funding for drug development and medical diagnosis producers advancement expected to boost up the growth of the electronic tongue market. Growing development of new devices and sensors for tastes assessment of dissolved organic and inorganic compounds favors the growth of the electronic tongue market.

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Electronic Tongue Market: Overview

Electronic tongue market expected to grow with the significant growth rate over the forecast period as increasing demand for the electronic tongue in the pharmaceutical industry. Electronic tongue performs taste masking assessment and provide objective results.  Electronic tongue performs taste assessment in a way similar to the human tongue. Electronic tongue analyzed sensory features such as the taste of drugs which is a key element in pharmaceutical product sales.  Electronic tongue also detects gustatory components metallic, astringent and pungent with basic tastes such as sweet, bitter, salty, sour and umami.  Electronic tongue enables pharmaceutical scientist to perform experiments without human safety consideration. Electronic tongue simplified the sensory test procedure for drug bitterness measurement.

Electronic Tongue Market: Region-wise Outlook

In terms of geography, the electronic tongue market has been divided into seven regions including Western Europe, North- America, Latin America, Eastern Europe, Japan, Middle-East & Africa, and Asia- Pacific excluding & Japan (APEJ). North America is expected to contribute the highest revenue share in the electronic tongue market as an increasing number of drug development and API formulation testing. Western European expected to contribute the second largest revenue followed by North America in electronic tongue market. Western Europe electronic tongue market expected to grow with major growth rate as increasing demand for advanced medical diagnostic devices. The Asia Pacific excluding Japan electronic tongue market is expected to grow with the highest growth rate over the forecast period due to increasing healthcare expenditure and growing investments in pharmaceutical developments.

Electronic Tongue Market: Key Market Participants

Example of companies participants in global electronic tongue market recognize across the value chain are Higuchi Inc., Norlab, Alpha MOS, TheSmartTongue, AFB International, Blonder Tongue Laboratories, Inc. and others. Manufactures are focusing on development of customized electronic tongue devices for medical and pharmaceutical industry.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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The report covers exhaust analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (India, China ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Electronic Tongue Market: Segmentation

On the basis of application, electronic tongue market can be segmented as:

  • Medical Diagnosis
  • Drug Development
  • Scientific Research

On the basis of end user, electronic tongue market can be segmented as:

  • Pharmaceutical Companies
  • Contract Research Organization
  • Hospitals
  • Diagnostic Laboratories

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Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current, and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

Infusion Pumps Market is likely to surge at 5.4% CAGR, and to surpass US$ 6 Billion by 2021-2030

FMI’s recent report on infusion pumps projects the market to surge at a CAGR of 5.4% from 2020-2030. Growth is attributed to increasing diabetic population across prominent regions. As per World Health Organization’s projections, there were 422 million diabetic people as of 2014, with a 5% increase in premature mortality.

Consequently, there has also been an increase in associated co-morbidities such as strokes, heart attacks, kidney failure and visual impairment. As a result, infusion pump usage has upticked in order to provide the appropriate medication and nutritional input.

To facilitate efficient drug delivery, manufacturers have incorporated various technological advancements in recent years. Additionally, the advent of wearable and smart infusion pumps is further fueling the market’s revenue prospects.

Global Infusion Pumps Market- Key Takeaways

  • Rising prevalence of cancer to push forward oncology-grade infusion pumps usage in the coming years
  • Ambulatory pumps are poised to hold major sway in the wake of swift drug and nutrient delivery
  • Europe to pivot global infusion pumps market growth, capturing over 1/3rd of the revenue pie
  • Global infusion pumps market is likely to surpass US$ 6 Bn by 2030-end
  • Favorable business reimbursement policies are expected to bolster infusion pumps demand in coming years

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COVID-19 Impact Analysis

The COVID-19 pandemic is anticipated to have a moderate impact on the global infusion pumps market. In the initial months of the pandemic’s onset, a slump in the demand-supply equation was observed. This was in response to the imposition of lockdowns and social distancing protocols. Eventually, a resurgence was recorded.

In recent months, regulatory authorities such as the U.S Food and Drug Administration (FDA) issued emergency use authorization to increase the availability of infusion pumps and related accessories. Infusion pumps have been pivotal in administering vital medicines and parenteral nutrition to patients admitted for chronic ailments.

As hospitals reach a saturation point, governments are providing flexibility to infusion pump manufacturers to address supply shortages by permitting them to resume operations. This is slated to sustain the infusion pumps market demand in the short-term forecast.

Global Infusion Pumps Market- Competitive Intelligence

Prominent players 

  • Fresenius Kabi AG,
  • Terumo Corporation,
  • Medtronic Plc,
  • Baxter International Plc.,
  • Smith Medical,
  • MOOG Inc.,
  • Johnson & Johnson Services Inc.,
  • ICU Medical Inc. and
  • Becton Dickinson & Company among others.

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Product launches, expansions, collaborations and other inorganic strategies are being pursued by the aforementioned players. In 2019, Terumo Corporation announced the launch of its TERUFUSION Infusion Pump Type LM Series which utilize smart cutting-edge IT solutions to deliver optimal management and prevents inadvertent excess infusion of drugs into the patient.

In 2010, Hospira Inc. partnered with Smith Medical to market and promote various infusion pumps. The companies collaborated in order to co-promote Hospira’s Symbiq and Plum A+ general infusion pumps along with its Hospira MedNet safety software. The venture also promoted Smith Medical’s Medfusion syringe pumps with the PharmGuard Medication Safety Software.

More Insights on the Infusion Pumps Market Report

A recent market study published by FMI on the ophthalmic lasers market includes the global industry analysis of 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. The report incorporates an unbiased analysis of the following segments: product type (syringe pumps, ambulatory pumps, volumetric pumps, implantable pumps, insulin pumps, enteral pumps, PCA pumps and pump accessories), application (chemotherapy/oncology, pediatrics/neonatology, analgesia, gastroenterology, hematology and diabetes), end-user (hospitals, ambulatory surgical centers, homecare, clinics and others) and region (North America, Latin America, Europe, MEA, East Asia, South Asia and Oceania).

Infusion Pumps Market – Key Segment

Product Type

  • Syringe Pumps
  • Ambulatory Pumps
  • Volumetric Pumps (Peristaltic and Cassette/Piston)
  • Implantable Pumps
  • Insulin Pumps
  • Enteral Pumps
  • PCA Pumps
  • Pump Accessories

Application

  • Chemotherapy/Oncology
  • Pediatrics/Neonatology
  • Analgesia
  • Gastroenterology
  • Hematology
  • Diabetes

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End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Homecare
  • Clinics
  • Others

Region

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

Smart Pill Boxes & Bottles Market 2021 | Scope of Current and Future Industry 2028

Sales of smart pill boxes and bottles are likely to reach around 800 thousand in 2019. According to a new analytical research study by Future Market Insights (FMI), smart pill boxes and bottles market will remain a high growth-low volume landscape over the course of next few years. Over 43% of total sales will be accounted by smart pill boxes. The report envisages a higher rate of adoption for smart pill bottles.

Almost 70% of adult patients are observed to discontinue or manipulate drug therapy, resulting in non-adherence to prescribed medication. The study opines that this directly adds to the economic burden on healthcare delivery system in form of emergency cases and hospitalization.

Smart pill boxes and bottles are increasingly being perceived as a potential solution to such challenges posed by increased healthcare delivery costs. Significance of medication adherence continues to rise with increasing prevalence of chronic conditions, propelling demand for smart pill boxes and bottles.

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Dementia and geriatric care remain the key application areas of smart pill boxes and bottles, according to the report. More than 80% of sales is accounted by aging patients and dementia-afflicted population. Cancer management is likely to emerge lucrative in terms of applicability in coming years.

With surging demand for high-quality healthcare delivery, senior care centers, hospitals, long-term care centers, and homecare settings are accelerating adoption of medication dispensers, thereby elevating the revenue growth of smart pill boxes and bottles market. Some of the leading companies are actively involved in the development of advanced technology medication dispensing devices with zero error risks during medication.

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Home care settings maintain the highest consumption share in smart pill boxes and bottles market that roughly equates 65% of total sales. Almost a fifth of smart pill boxes and bottles sold are installed at seniors care and assisted living centers. FMI’s analysis indicates that long-term care centers are also creating promising market opportunities for smart pill boxes and bottles manufacturers and distributors.

North America continues to reign supreme owing to early adoption of advanced technology enabled smart pill boxes and bottles, accounting for more than a third of the global market revenue. European market for smart pill boxes and bottles also represents a substantial volume share, majorly driven by German patients. South and East Asian regions are briskly developing high-potential markets for manufacturers and distributors of smart pill boxes and bottles, says the report.

Preview Analysis of Smart Pill Boxes & Bottles Market is segmented by (Type – Smart Pill Box & Smart Pill Bottles; Indication – dementia, Parkinson’s disease, cancer management, diabetes care, geriatric care, disability & others; Distribution channel – seniors care & assisted living, long term care centers & home care;) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018-2028: https://www.futuremarketinsights.com/reports/smart-pill-boxes-bottles-market

The vendor landscape of smart pill boxes and bottles market remains fairly consolidated and competitive, as Tier 1 manufacturers continue to account for a majority of share in the market in terms of volume. While dominance of Koninklijke Philips N.V., PharmRight Corporation & Livi, and AdhereTech prevails in smart pill boxes and bottles market, the report finds that the competition among these players is characterized by product innovation, new launches, and technological advancements.

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Additional Questions Answered

Some of the additional questions addressed in this report on the Smart Pill Boxes & Bottles market:

  • What is the overall revenue generation potential of the Smart Pill Boxes & Bottles market across the regions of Europe and South Asia?
  • Who are the key regional and global competitors? What are their portfolios in the Smart Pill Boxes & Bottles market?
  • What are the major challenges influencing the growth of the Smart Pill Boxes & Bottles market?

Non-Surgical Fat Reduction Market 2021 Industry Analysis by Type, Application, End-User and Region

Non-surgical fat reduction is a minimally invasive treatment of body fat reduction. Non-surgical fat reduction is conducted through various technologies including heat, cooling, medication and injectable. Non-surgical fat reduction is performed with variety of devices, including radio frequency, infrared light, ultrasound, and injectable medication. The global non-surgical fat reduction market is expected to reach a value of US$ 220.0 Mn by the end of 2022, according to a latest research by Future Market Insights (FMI). The report on the non-surgical fat reduction market further projects significant growth potential with average year-on-year growth rate of 5.1% through 2022.

Obesity leads to serious health problems including heart disease, high blood pressure, diabetes, and cancers in certain cases. Excess deposition of body fat triggers insulin production, which lead to diabetes. According to a study conducted by Harvard, the risk of diabetes is 20 times more in obese population. This also increases the risk of high blood pressure, gallstones and stroke. The growing number of obese population is seeking for cost-effective, less painful non-surgical fat reduction procedures, which can be performed at outpatient centres or beauty clinics. Some of the most popular procedures among non-surgical fat reduction are injection lipolysis, cryolipolysis, laser lipolysis, and radiofrequency lipolysis.

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The non-surgical fat reduction market is predominated by few companies that are offering their approved products to the end users. These companies are competing in the non-surgical fat reduction market through product differentiation strategy. The leading players operating in the market have varied range of products, which operate on different technologies. Non-surgical fat reduction is gaining popularity among teen-age groups. According to the American Society of Plastic Surgeons (ASPS), approximately 229,000 cosmetic procedures were conducted on teen-aged patients (age 13 to 19) in 2017. The prime reason behind the increased number of plastic surgeries among teen-age group is social media-obsessed culture, where teenagers opt for various type of plastic surgery. The increasing number of teen-age population across beauty clinics is likely to boost the growth of Non-surgical fat reduction market.

Non-surgical fat reduction is gaining popularity among women who have undergone C-section during their pregnancy. This patient population is seeking for body-contouring treatments for their post-pregnancy marks. Non-surgical fat reduction is a cost-effective solution for body-contouring women. Non-surgical fat reduction techniques available in the market are also targeting population that are looking for temporary fat reduction solution. In order to cater the demand, Syneron Medical Ltd (UltraShape) & Valeant Pharmaceuticals International, Inc. (Liposonix) are offering FDA approved products for ultrasound fat reduction treatment. The devices offered by the companies use focused ultrasonic waves to break the fat while leaving surrounding tissues unharmed. Non-surgical fat reduction with laser-based technology is adopted by patient looking for fat reduction in particular areas such as hips, waist and thighs.

Most of the surgeons does not recommend laser-based surgery for pregnant mothers, or women trying to conceive or for people with pacemakers. Based on the product type, the laser-based devices segment is expected to account a high share in the global non-surgical fat reduction market in terms of value throughout the forecast period. Moreover, this segment is projected to register a CAGR of 5.6% through 2022.

FMI has segmented the global non-surgical fat reduction market based on product type, end users, & regions. In terms of revenue, the beauty clinics end-user segment holds substantial share in the non-surgical fat reduction market and is expected to gain momentum over the forecast period due to increasing awareness regarding cost-effective non-surgical fat reduction procedures.

Examples of some of the companies profiled in the report are Cutera Inc., Syneron Medical Ltd., Lutronic Corporation, Fotona d.d., Cynosure, Inc., Solta Medical Inc., Lynton Lasers Ltd., Alma Lasers, Ltd., Venus Concept Canada Corp., EL.En. S.p.A., and Sciton, Inc.

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Additional Questions Answered

Some of the additional questions addressed in the report for Non-Surgical Fat Reduction market-

  • What is role of regulatory authority and plastic surgery service providers in market?
  • What is the revenue potential of Non-Surgical Fat Reduction over conventional invasive fat reduction procedures?
  • How Non-Surgical Fat Reduction market is gaining momentum in Asia region?
  • Who are the key competitors and what are their portfolios in Non-Surgical Fat Reduction market?
  • What is the price point for Non-Surgical Fat Reduction devices in developed countries?
  • What is the current level competition in the Non-Surgical Fat Reduction market?

Cosmetology Market 2022 | Present Scenario and Growth Prospects 2027

Cosmetology is the study of beauty, treatments and its applications. There are various branches of specialty in the cosmetology market, i.e. hairstyling, skin care, cosmetics, manicure/pedicure, and others. Cosmetology or Aesthetics is an inclusive term for specialties which focus on improving appearance through cosmetic procedures. Cosmetology market is primarily focused on the increasing demand by the end users, and lowering of pricing for implants and surgeries and high efficiency of the method.

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Cosmetology Market: Dynamics

Cosmetology market is driven by new product innovation and new technologies as end users focus on new methods of skin and hair enhancement, healthcare expenditure, rising disposable income, and the emergence of technologically superior products. In addition to this cosmetology market is growing due to the rising awareness among end users towards breast cancer, mastectomy, has also impacted the cosmetology market. However, as the cosmetology market progresses, there are associated risks such as the risk of failure, associated malfunctioning of the implants, high prices of the surgery, regulatory scenario to maintain the standards of the implants used and cosmetic implants. Cosmetology market is also facing significant challenges as the government does not grant reimbursements. Also, not many initiatives are taken by the government of incentives. A major drawback which cosmetology industry faces is that the insurance does not cover the costs of cosmetology procedures.

Cosmetology market has multiple opportunities such as the development of low-cost implants by major companies.

Cosmetology Market: Region-wise Outlook

Based on geography, the cosmetology market can be segmented into five major regions: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. At present, North America holds a leading position in the cosmetology market followed by Europe. The major driving factors which have driven the growth of the cosmetology market in these regions are continuously increasing demand from the end users for new methods of enhancements and continuous improvements in the cosmetology market. Following North America, European countries are also anticipated to show steady growth in the cosmetology market. In the next few years, Asia-Pacific would show remarkable growth in the cosmetology market as it is developing at a very rapid pace and has shown the emergence of many regional players. The factors which would fuel the growth of cosmetology market in Asia-Pacific are increasing awareness regarding various medical procedures, increase in the number of key players and rapid development in the healthcare infrastructure across the Asian countries. Cosmetology market would evolve at a rapid rate across the regions, however, North America would maintain its position in the overall cosmetology market.

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Cosmetology Market: Key Players

In the past decade, the cosmetology market has witnessed a massive influx of well-established players which provide raw materials in the cosmetology market. Some of the top players operating in the cosmetology market are GC Aesthetics, Mentor Worldwide LLC, Sientra Inc., Zimmer Holdings Inc., 3M Health Care, Allergan, Inc., Implantech Associates Inc., Institut Straumann AG, Nobel Biocare Holding AG, Spectrum Designs Medical, and many others. Cosmetology market has the presence of many regional players which have a huge market share in emerging countries.

The report covers exhaust analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

The regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
Cosmetology Market: Segmentation

Cosmetology market can be segmented by various types of procedures offered for skin care:

  • Surgical
  • Non-Surgical

Cosmetology market has a broad scope due to the various applications of the procedures offered. By the different procedures we can segment the market into the following:

  • Hair transplant
  • Buttock Augmentation and Reduction
  • Breast Augmentation and Reduction
  • Cosmetic Reconstruction
  • Others

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth Polishing / Lapping Film market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint.

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Pet Toys Market Finds Key Growth Opportunities in Cognitive Training Offerings, Says FMI Study

The pet toys market is projected to rise at a healthy 7.2% CAGR for the period of projection from 2021 to 2031. The growing rate of pet ownership, increased interest in pet humanization trends, and the development of pet care hospitality facilities are key factors that contribute to the rise of the pet toys market. Consumers are increasingly looking out for customized and personalized products for individual pets, despite higher prices. In addition, the trend of using toys for behavioral training is expected to influence developments within the market.

Pet Toys Market

“Pet owners have increasingly expressed interest in purchasing sustainable products, while maintaining safety standards for animals. This in turn has encouraged pet toy manufacturers to explore natural materials for their offerings in line with the needs of eco-conscious pet parents,” says the FMI study.

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Pet Toys Market – Important Takeaways

  • Plastic and rubber toys remain popular materials for toy production, owing to superior durability and standardization for product quality.
  • Ecommerce sales will reflect a relatively faster rate of growth, backed by internet penetration and discount offers from manufacturers.
  • India is emerging as a high potential market owing to the expansion of the consumer class of millennial pet owners.
  • The U.S. accounts for significant revenue share owing to consumer preference spending on pet luxury.

Pet Toys Market – Driving Factors

  • Sustained growth in cat and dog ownership rates is a major factor positively influencing pet toy sales.
  • The increasing popularity of facilities such as pet hotels and day care centers generate key growth opportunities.
  • Major advances in products for cognitive training for pets is bolstering sales in the industry.

Pet Toys Market – Leading Constraints

  • Concerns over the widespread proliferation of low-quality toys, by small-scale manufacturers is a key concern restricting adoption.
  • Lack of awareness about toys for training purposes is restraining sales prospects around the world.

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Expected Impact on Market by Coronavirus Outbreak

The global covid-19 pandemic had a moderately negative impact on the pet toys market. Restrictions on production operations and social distancing guidelines have limited manpower and disrupted supply chains during the crisis. In addition, restraints on international trade had affected product availability.

On the other hand, pet ownership rates have grown during the forecast period, creating sales opportunities for manufacturers, partially mitigating losses to manufacturers during the pandemic. Demand is expected recover steadily over the coming decade, with increasing sales activity occurring from online distribution channels.

Competition Landscape

Some of the major players participating in the pet toys market include but are not limited to Honest Pet Products, Central Garden & Pet Company, Company of Animals Ltd., Cosmic Pet, Petsport USA Inc., Zyppy Paws, Mammoth Pet Products, Radio Systems Corporation, Jolly Pets, Multipet, Fluff and Tuff Inc., Kyjen Company LLC, West Paw, KONG Company, Ethical Products Inc., Benebone LLC, Coastal Pet Products Inc., and Petmate.

Major manufacturers in the pet toys market have been largely involved in the launch of new products to bolster their product portfolios, in addition to strategies aimed towards licensing and geographical expansion.

In March 2021, PetSmart unveiled its Brain Games training course aimed towards mental stimulation goals including courses on dog reading, object recognition and more, improving communication between pet and owner. Further, Chewy, the online pet toy shop has unveiled a new range of 400 products for cats and dogs based on Marvel, Disney, Star Wars, and Pixar character designs. In December 2020, Pet Supplies Plus, announced the acquisition of 40 store locations from Pet Valu across Virginia, Indiana, Ohio, Kentucky, Pennsylvania, Maryland, and New Jersey.

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More on the Report

FMI provides in-depth insights on the pet toys market. The market is segmented in terms of product type (plush toys, rope and tug toys, balls, chew toys, squeaky toys, interactive toys, and others), pet type (dogs, cats, birds, and others), material type (rubber, cotton, nylon, plastic, and others), type (non-edible and edible), size (small, medium, and large), price range (economy, mid-range, and premium), and sales channel (wholesalers/distributors, hypermarkets/supermarkets, convenience stores, multi-brand stores, online retailers, and pet specialty stores), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).

Power Generator for Military Market Size, Share, Industry Analysis, Future Growth, Segmentation, Competitive Landscape

The market offers significant scope for the implementation of improved technologies and footprint expansion. With various governments around the world increasing their military expenditure, the demand for advanced and tactical equipment will rise.

Market experts see the ongoing trends as highly favorable for the growth of Military Power Generator Market within the military and defense sector. Future Market Insights’ (FMI) study on the subject has forecast the market to progress at 3.4% CAGR between 2020 and 2030.

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According to FMI, the demand for advanced and fuel-efficient generators will accelerate in the coming years. Increasing budget allocation towards strengthening the defense sector will subsequently aid the expansion of the market.

FMI’s report on the power generator for military market highlights the specific needs of the defense and military sector. It identifies hidden growth opportunities for the market players, besides cautioning them against potential threats.

Some of the key takeaways from the report are:

  • Market players are likely to witness attractive growth opportunities as military agencies focus on establishing integrated power systems. This will invariably fuel the demand for generators
  • Hybrid generators are likely to comprise an exceptionally lucrative product category. Ensuring environment safety is high on the agenda of military agencies. They are keen on investing in fuel-efficient technologies that will also offer significant cost reduction
  • Backed by increasing military spending, North America is forecast to emerge as dominant market for power generators
  • While diesel will remain preferred fuel type, tightening environmental laws will boost growth prospects for natural gases as potential sources of fuel
  • Demand power generators will remain significantly high in field hospitals and field camps and accommodations

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The COVID-19 outbreak has sent shockwaves across the globe. Experts even presume it to be the worst crisis the world has witnessed in recent past. The crisis was unprecedented, resultantly it crippled the manufacturing sector of some of the major economic powerhouses.

By the time the global economy recovers from the jolt, manufacturing is expected to be among the worst-hit sectors. The incredible slump in investment, subsequently revenue generated within the industry paints a gory picture.

The power sector too is no stranger to the crisis. It is reeling under payment delays and deficits. Government owned distribution companies are particularly hampered. Nationwide lockdowns have posed unique and devastating challenges. Liquidity crunch is threatening several companies within the industry.

By Segmentation:

Capacity

  • Upto 60 KW
  • 61 to 250 KW
  • 251 to 500 KW
  • 501 to 1000 KW
  • Above 1000 KW

Output Type

  • AC
  • DC

Fuel Type

  • Diesel
  • Natural Gas

Installation Type

  • Stationery
  • Mobile and Portable

Application

  • Communication System
  • Air Defence System
  • Field Hospitals
  • Field Camps/Accommodation
  • Lighting
  • Military Vehicles
  • Others

Regional Outlook

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Rest of LATAM)
  • Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
  • Oceania (Australia, New Zealand)
  • Middle East (GCC Countries, Turkey)
  • Africa (Northern Africa, South Africa)

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Competitive Analysis:

Leading companies operating in the power generator market have an impressive global presence backed a strong distribution and sales network. Because the market is fairly consolidated, Tier 1 companies are expected to account for the lion’s share.

Market players will primarily focus on expanding their global footprint and product portfolio. Considering this, besides mergers and acquisitions, product launches will remain highly preferred strategic moves among competitors.

FMI profiles some of the leading companies operating in the global market. These include Cummins Inc., Caterpillar Inc., Rolls-Royce Holdings plc, HIMOINSA, Harrington Generators International, Teknel srl, GRUPEL S.A., VÝVOJ Martin, HITZINGER GmbH, Fischer Panda GmbH, Ascot Industrial S.r.l., GREEN POWER SYSTEMS S.r.l., Kohler Co., Kirloskar Oil Engines Ltd., and Ausonia S.r.l.

Microneedle Drug Delivery Systems Market 2022 Development Status, Competition Analysis, Type and Application 2030

Emerging applications of microneedle drug delivery systems are expected to fuel their demand over the next decade. According to a recent report published by Future Market Insights (FMI), the global microneedle drug delivery systems market will grow at a CAGR of 6.6% between 2020 and 2030. The market is witnessing surging demand in the field of pharmacy and cosmetics.

The rising incidence of diseases such as cancer, diabetes, migraine, and others and the need to accurately administer medications are driving the market. Additionally, the demand for minimally invasive and painless treatment methods is expected to bode well for the market.

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The report uncovers hidden growth opportunities. It also highlights potential threats to the market players. Some of the key takeaways from the report are highlighted below.

microneedle drug delivery systems market

Key Takeaways from the Report

  • Solid microneedles are expected to lead the market during forecast period of 2020-2030 among product type
  • Hospitals are the leading end users of microneedle drug delivery systems, with specialty clinics gaining popularity.
  • Specialty clinics are expected to grow at an accelerated rate as one of the key end users of microneedle drug delivery systems
  • North America is the largest market for microneedle drug delivery systems. Along with Europe, it is expected to cover more than 70% of the market by end of 2030.
  • East Asia is expected to be the fastest growing regional market during the next decade.

Companies operating in the market are leaving no stone unturned to introduce innovations. Some have even tied up with leading solutions provider to commercialize their innovations once approved. This is expected to pave way for the market’s growth in the near future said a lead Analyst at FMI.  

Covid 19 Restricting Pace of Growth

The onset of pandemic has disturbed the entire business ecosystem. With productions coming to a halt and supply chains disrupted due to lack of transport, manufacturers of microneedle drug delivery systems are impacted in a big way.

Also, because of several restrictions by governments like social distancing, doctors and practitioners are choosing to avoid any surgical treatments which are not absolutely and immediately necessary.

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Furthermore, cosmetic field which is another major user of microneedle drug delivery systems is also impacted as almost all treatments under their umbrella are considered to be not urgent.

Who is winning?

The key market players in microneedle drug delivery systems market include the 3M Company, Becton, Dickinson and Company, Zosano Pharma Corporation, Raphas co. ltd., Nanopass Tech, Corium International, Inc., Valeritas, Inc., Nitto Denko Corporation, Microdermics, Inc., TheraJect Inc., Vaxxas Pty Ltd., Endoderma Ltd., QuadMedicine, SNvia Co., Ltd., Small Lab and AdminMed Nano BioSciences LLC

Consolidating their positions through mergers, acquisitions and new product launches, global microneedle drug delivery systems market players rely heavily on new product innovation and differentiation for gaining an edge over their competitors.

The market is poised to grow during the forecast period owing to the increasing cases of diseases and needle phobia among patients. However, changing regulatory dynamics are expected to affect the growth of microneedle drug delivery systems market in the future.

For instance, Zosano Pharma’s clinical trial of zolmitriptan with microneedle drug delivery system was stopped by U. S. Food and Drug Administration because inconsistencies were found in the drug delivery.

Possibilities for Diverse Applications Aiding Growth

Microneedles backed by advance technological are expected to witness surge in demand. Factors such as cost effectiveness, bio availability, and quick action of these tools will also aid in the overall expansion. With healthcare sector seeking out advanced and precise methods for drug administration, demand from diverse sectors are likely to increase.

Microneedle producers will therefore witness demand in several other fields of applications such as pharmaceutical therapies, cosmetic therapies, and vaccinations. Market potential for global microneedle drug delivery systems also is growing owing to the demand from various biomedical uses such as long term treatment of disease, disease diagnosis, immune biological administration etc.

Key Segments

Product Type

  • Solid Microneedles
    • Silicon
    • Metal
    • Polymer
  • Hollow Microneedles
  • Dissolving Microneedles

End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics
  • Academic Institutions
  • Research institutes

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

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Key Questions Answered in the Report

What is the expected growth rate for microneedle drug delivery systems market?

What is the regional outlook of the microneedle drug delivery systems market?

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Banking-as-a-Service (BaaS) Platform Market SWOT Analysis, Business Growth Opportunities by Top Companies, Future Challenges, Competitive Strategies and Forecast to 2031

The demand outlook for global banking-as-a-service (BaaS) platform market remains impressive as Future Market Insights (FMI) forecasts sales to surpass US$ 12.2 Bn by the end of 2031.

The market is expected to register impressive growth as the adoption of BaaS platform surges within fintech corporations. As per the study, the global BaaS platform market is poised to expand at 15.7% CAGR between 2021 and 2031.

With increasing adoption of digital banking services across several domains, demand for BaaS platform has surged in medium and small sized organizations. Integration of artificial intelligence, block-chain technology, and API services within internet banking also will boost the demand.

Several banks and financial institutions are investing in digital transformation to offer tech savvy banking operations. Large organizations are increasing the adoption of BaaS platform to enhance their customer base.

Driven by the outbreak of COVID-19, various organizations are revamping their businesses by implementing digital banking services. Hence, adoption of BaaS platforms witnessed a sudden spike as organizations raced to deliver outstanding digital experience to their customers.

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Adoption of BaaS platform within fintech corporations increased at a remarkable pace. Increasing reliance on mobile banking, digital payments, and net-banking among consumers also has aided the market growth.

“Rapid proliferation of work-from-home and increasing reliance on digital payments and online banking is encouraging key players to implement block-chain and artificial intelligence technology to deliver secure services to the customers. This is amplifying sales in the market,” says the FMI analyst.

banking as a service platform market key countries and end user mekko chart 2021

Key Takeaways from FMI’s Banking-as-a-Service Platform Market Survey

  • In terms of solution, BaaS APIs segment will witness growth at a robust 17% CAGR during the forecast period
  • Banking as service platform will account for the leading market share and continue to retain its dominance through 2031
  • Large organizations will account for half of global banking-as-a-service market sales
  • In terms of enterprise size, mid and small-sized organizations segment will register remarkable growth at 16.6% CAGR
  • Fintech corporations are expected to be the leading end-users of BaaS platforms, accounting for a share of nearly 26%
  • The U.K. market will register highest sales across Europe, accounting for nearly 29% of market share
  • Demand for banking-as-a-service platform across the U.S. is set to rise at an impressive 15% CAGR
  • India banking-as-a-service platform market will register staggering growth at 26% CAGR owing to the flourishing fintech companies in the country

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Key Drivers

  • Adoption of BaaS platform among diverse end users such as clothing industry, online retailers, and others will increase as they aim for expanding their customer base
  • Surging collaboration between incumbents and fintech innovators to distribute financial products and gain remunerative opportunities will boost the market
  • As BaaS platform reduces digitization costs for incumbents, more fintech companies are adopting these services to gain edge in the industry

Key Restraints:

  • Lack of protection of secure data and flexibility will act as challenge for banking-as-a-service providers
  • Unavailability of secure platforms to deploy targeted solutions might hamper the market growth

Competitive Landscape

Leading players in the market are focusing on acquiring fintech start-ups to develop their own net-banking and digital banking products to reduce their churn rates. Also, the players are coming up innovative solutions to serve their customers.

Rapidly changing demand from various organizations for advanced banking products and digitalization is encouraging leading players to rely on third parties and develop new APIs services.

For instance,

  • In September 2021, Monese, the leading European fintech announced the launch of banking-as-a-service platform and new partnership with Investec Bank Plc.
  • Temenos, the banking software company, on September 26, 2021, announced its strategic collaboration with Vodeno, a fully cloud-native BaaS provider and Aion Bank, a European licensed digital bank to accelerate banking as a service deployment in Europe.
  • In July 2021, Cermati Fintech Group launched its BaaS technology platform product in Indonesia through a strategic partnership with BCA Digital, a leading bank in Indonesia and Blibli.

Some of the key players operating in the banking-as-a-service platform industry market profiled by FMI are:

  • Sopra Banking Software
  • Solarisbank AG
  • Bankable
  • Treezor
  • 11:FS Foundry
  • Clearbank Ltd.
  • Q2 Software, Inc.
  • Green Dot Corporation
  • Sterling National Bank
  • Banco Bilbao Vizcaya Argentaria (BBVA), S.A
  • Unit Finance Inc.
  • Starling Bank
  • Treasury Prime
  • ADVAPAY OÜ
  • Technisys.
  • Others

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More Valuable Insights on Banking-as-a-Service Platform Market

Future Market Insights, in its new offering, presents an unbiased analysis of the banking-as-a-service market. The study delivers essential insights on the banking-as-a-service market on the basis of:

By Solution:

  • Banking as a Service Platform
  • Banking as a Service APIs
  • Services
    • Payment Processing Services
    • Digital Banking Services
    • KYC Services
    • Customer Support Services
    • Others

By Enterprise Size:

  • Small & Mid-Sized Organizations
  • Large Organizations

By End User:

  • Banks
  • FinTech Corporations
  • Investment Firms
  • Others

By Region:

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

Key Questions Covered in the Report

  • The report offers insight into banking-as-a-service platform market demand outlook for the forecast period 2021-2031
  • The market study also highlights projected sales growth for banking-as-a-service platform market between 2021 and 2031
  • Banking-as-a-service platform market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
  • Banking-as-a-service market platform share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others