Market Research Blog – Page 1620 – New Product Development

Lacrimal Devices Market is expected to reach USD 39.7 Million by 2029, expanding at a 5.5% CAGR | FMI Analysis

The global Lacrimal Devices Market is experiencing steady growth, according to a recent analysis by Future Market Insights (FMI). The market is projected to reach a value of USD 39.7 million by the end of 2029, reflecting a significant rise from its approximate valuation of USD 25.6 million in 2021. This growth is attributed to a Compound Annual Growth Rate (CAGR) of 5.5%.

Lacrimal devices, notably Nasolacrimal stents, have emerged as a groundbreaking advancement in ophthalmic care. These devices provide a novel solution for tear drainage in cases where traditional tear ducts are nonfunctional, and alternative drainage options are limited. The inception of lacrimal stents dates back to 1932 when Dr. Graue introduced the concept, of utilizing silver wire as the primary material.

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Over the years, the lacrimal devices landscape has witnessed significant advancements, with various materials like silk, nylon, polyethylene, and polypropylene being employed to enhance performance and patient comfort. These small tubes are typically constructed from silicone or other semi-rigid yet flexible materials, featuring an open center lumen for optimal tear drainage.

The Global Lacrimal Devices Industry’s impressive growth can be attributed to ongoing innovations and increasing demand for effective tear drainage solutions. With a 5.5% CAGR driving the market’s expansion, it is clear that lacrimal devices are becoming an integral part of the ophthalmic industry, offering hope and improved quality of life to countless individuals worldwide.

The increased demand for ophthalmic treatments with greater success rates and minimum intrusions, as well as an increase in patients with nasolacrimal duct obstruction, are driving the Global Lacrimal Devices Industry.

During the projected period, the introduction of innovative and high-success-rate treatments will move the market forward. The adoption of precise and updated lacrimal devices, such as the new lacrimal cannula, which combines flexibility and strength to prevent trauma by providing easy access to the canaliculus, is a fundamental driver of market expansion.

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Manufacturers Emphasizing Advanced Product Development

Numerous organizations are focusing on new product development for lacrimal duct stent tubes. In June 2019, FCI Ophthalmic offered a complete line of BIKA stents namely, BIKA, BIKA for DCR, and Infant BIKA covering a range of sizes that will benefit most of the congenital nasolacrimal duct obstruction (CNLDO) and dacryocystorhinostomy (DCR) cases.

Key Takeaways – Lacrimal Devices Market Study

Bicanalicular lacrimal duct stent tube is expected to contribute a fourth of the revenue share in the lacrimal duct stent tube market owing to its high success rate in stent placement.
Hospitals captured the maximum share of the lacrimal duct stent tube market owing to the highest patient footfall followed by ophthalmic clinics.
Attributed to the growing patient pool for retinal diseases, especially due to premature births, contributed to the dominance of North America in the lacrimal duct stent tube market.
Increasing awareness for the availability of the treatment for nasolacrimal duct stent obstruction among caregivers of prematurely born babies and an increasing number of skilled professionals are expected to drive the growth of the lacrimal duct stent tube market in East Asia.

Lacrimal Devices Market Competitive Landscape

FCI Ophthalmics
Kaneka Corporation (Kaneka Pharma America LLC)
Gunther Weiss Scientific Glass
Bess Medizintechnik GmBH

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Key Segments Covered In Lacrimal Devices Market Research

By Product:

Monocanalicular Lacrimal Duct Stent Tube
Bicanalicular Lacrimal Duct Stent Tube

By End User:

Hospitals
Ophthalmic Clinics
Ambulatory Surgical Centers

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Radiation Toxicity Treatment Market is anticipated to expand at a CAGR of 5.8% by 2029, reaching USD 5.58 Billion | FMI Study

The fight against cancer involves powerful treatments, but these can sometimes come with challenging side effects. The Radiation Toxicity Treatment Market is on the rise, reflecting the growing need for effective solutions to manage these side effects. According to a recent industry report by Future Market Insights (FMI), the global market for Radiation Toxicity Treatment was valued at USD 3.76 billion in 2022. This market is poised for significant growth, projected to reach a staggering USD 5.58 billion by 2029.

The installed base of internal radiation therapy machines has increased considerably over the previous decade. Improving reimbursement situations and a favorable government policy framework in the field of cancer treatment are expanding radiation therapy accessibility, which is positively impacting the Radiation Toxicity Treatment market.

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According to the report, big corporations in the Asia Pacific will continue to invest heavily in the development of novel radiation therapies in response to the region’s increased cancer prevalence and improved rate of detection.

The increasing prevalence of radiation poisoning in the healthcare and chemical industries necessitates the development of effective therapies. Another important factor driving the market growth is the recent FDA clearance of many orphan drugs that have been found to significantly improve survival rates in adult and pediatric radiation sickness patients. These application areas continue to offer potential opportunities in the Radiation Toxicity Treatment market.

Key Takeaways – Radiation Toxicity Treatment Market Study

By 2029, the increased usage of colony-boosting medicines, such as Amgen’s Neulasta, will account for more than 75% of revenue in the Radiation Toxicity Treatment market.
Because of the high incidences of radiation toxicity caused by gamma radiation emission from positron emission tomography (PET) and single-photon emission computed tomography (SPECT) scanners installed in hospitals and diagnostic centers, non-ionizing radiation is expected to provide a lucrative opportunity for market participants.
North America remains the market leader in Radiation Toxicity Treatment, but South Asia is predicted to grow fast shortly.

Who Is Winning?

Some of the key players operating in the Radiation Toxicity Treatment market include Amgen Inc., Partner Therapeutics, Mylan N.V., and Novartis AG. Leading players of the Radiation Toxicity Treatment market are focusing on acquiring smaller companies to enhance their product portfolio and improve regional market positioning.

For instance, Siegfried Group announced the acquisition of drug product manufacturing facility together with all related employees and contracts from Arena Pharmaceuticals GmbH in Zofingen, Switzerland. Also, in 2018, Partner Therapeutics (PTx) acquired global rights to develop, manufacture, and commercialize Leukine (sargramostim) from Sanofi.

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North America is expected to dominate the radiation toxicity market due to the high incidence of cancer in the region, favorable reimbursement policies, and well-established healthcare infrastructure. Europe is also expected to witness significant growth in the radiation toxicity market due to increasing government initiatives to promote radiation therapy and rising investments in research and development activities.

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Radiation Toxicity Treatment Market by Category

By Product:

Colony Stimulating Factors
Potassium Iodide
Prussian Blue
Diethylenetriamine Pentaacetic Acid
Others

By Indication:

Acute Radiation Syndrome
- Bone Marrow Syndrome (Hematopoietic)
- Gastrointestinal Syndrome (GI)
- Cardiovascular (CV)
Chronic Radiation Syndrome

By Radiation Type:

Ionizing Radiation
- Alpha Radiation
- Beta Radiation
- Gamma Radiation
Non-ionizing Radiation

By End-User:

Hospitals
- Government Hospitals
- Private Hospitals
Research & Academic Institutes
- Government Research and Academic Institutes
- Private Research and Academic Institutes

Author

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Implantable Drug-Eluting Devices Market is Anticipated to Expand at a 6.0% CAGR and Reach USD 19.3 Billion by 2029 | FMI Research

The battle against chronic diseases is gaining a powerful ally: Implantable Drug-Eluting Devices Market. These innovative medical technologies are revolutionizing patient care by providing sustained drug delivery. According to a recent analysis by Future Market Insights (FMI), a leading market research firm, the global market for these devices is poised for significant growth, reaching a staggering USD 19.3 billion by 2029. This represents a robust Compound Annual Growth Rate (CAGR) of 6.0%, building on a strong foundation of approximately USD 12.8 billion in 2022.

In a noteworthy trend, manufacturers leading the industry are harnessing advancements in micro and nanotechnology to craft innovative implantable drug-eluting devices, steering the industry towards unprecedented growth. These cutting-edge devices exhibit controlled and site-specific attributes, along with compatibility for targeted drug delivery. This unique combination not only simplifies intricate dosing schedules but also mitigates the systemic toxicity associated with conventional drug delivery systems.

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Remote-Controlled Chips and Programmable Devices – Future of Targeted Drug Delivery

Increasing clinical trials and research & development of remote-controlled and programmable drug-eluting devices Massachusetts Institute of Technology (MIT) researchers have developed a remote-controlled contraceptive hormone (levonorgestrel) delivery chip implant, which can turn the device on and off. Implantable drug-eluting devices allow minimum effective doses and support oral opioid weaning

Implantable drug-eluting devices such as SynchroMed II intrathecal drug delivery system with a controlled workflow system, play an effective role in reducing or eliminating the use of oral opioids. Antiretroviral (ARV) drug implant is expected to emerge as a promising approach for HIV treatment and prevention In July 2022, Merck & Co. started the development of slow-release antiretroviral (ARV) drug implants as a promising approach for HIV treatment.

The growth of the Global Implantable Drug Eluting Devices Industry can be prominently attributed to the associated cost-effective technology and novel medication administration techniques. Fewer side effects while these devices are utilized in the management of chronic diseases as well as in contraception have been the strongest attribute accounting for a steadily expanding market for implantable drug-eluting devices. Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Know More About Implantable Drug-Eluting Devices Market Report

The Global Implantable Drug-Eluting Devices Industry, a new study from Future Market Insights, opines on the evolution of the implantable drug-eluting devices market from 2014 – 2021 and presents demand projections from 2022 – 2029 based on product type (implantable drug infusion pumps, intraocular drug-eluting devices, contraceptive drug-eluting devices, buprenorphine implant, and drug-eluting stents), technology (active drug-eluting devices and passive drug-eluting devices) applications (diabetes macular edema, birth control/contraception, opioid addiction, cardiovascular, ophthalmology, oncology, pain management, others) implantation type (intravaginal, intravascular, intraocular, intrathecal, subcutaneous, intrauterine) end users (hospitals, ambulatory surgical centers, optical care centers, cardiac surgery centers, office-based setting, and others) in seven prominent regions.

Medical-Pharma Collaborating to Balance Demand and Supply

A comprehensive view of the Global Implantable Drug Eluting Devices Industry has led our analysts to conclude that, the market is expected to grow at an impressive rate. This market growth is mainly attributed to increasing innovations and developments in implantable drug-eluting devices for the management and treatment of breast cancer, schizophrenia, Parkinson’s disease, and photosensitivity diseases. Besides, FMI analyst suggests that markets in North America and Europe are expected to hold major value shares in the global implantable drug-eluting devices landscape. Medical device companies are collaborating with pharmaceutical companies to develop efficient drug-delivery devices to cater to the rising demand for implantable drug-eluting devices.

Increasing use of syringe-based subcutaneous implantable drug-eluting devices is anticipated to minimize the number of invasive surgical procedures. The introduction of implantable drug-eluting devices or rare conditions such as central precocious puberty (CPP) will emerge as an important factor shaping the market for implantable drug-eluting devices.

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Key Segments Covered in Implantable Drug-Eluting Devices Market Research

By Product:

Implantable Drug Infusion Pumps
Intraocular Drug-Eluting Devices
Contraceptive Drug-Eluting Devices
Buprenorphine Implant
Drug-Eluting Stents
Others

By Technology:

Active Drug Eluting Device
Passive Drug Eluting Device
- Biodegradable Implants
- Non-Biodegradable Implants

By Application:

Diabetic Macular Edema
Birth Control/Contraception
Opioid Addiction
Cardiovascular
Ophthalmology
Oncology
Pain Management

Author

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Vacuum Mixing Devices Market is expected to reach USD 186.0 Million by 2029 at a CAGR of 2.4% | FMI study

The global Vacuum Mixing Devices Market is poised for growth as industries increasingly demand precise and consistent mixing solutions. A recent analysis by Future Market Insights (FMI) forecasts a Compound Annual Growth Rate (CAGR) of 2.4% from 2022 to 2029, with the market projected to reach USD 157.9 million by 2029. This expansion reflects the growing adoption of these devices across various sectors.

The FMI analyst thinks that market gains will further be upheld by the clinical benefits associated with the use of vacuum mixing devices. FMI expects vacuum mixing devices to see unwavering growth in the next 10 years, as the global healthcare space actively embraces ‘efficiency-enabling’ medical mixing equipment.

Medical mixing processes have remained challenging for a long period, primarily undermined by the lack of competent technologies. With the gradual evolution of vacuum mixing devices, a wide range of mixing applications are handled seamlessly in a shorter timespan without compromising on the results.

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According to the FMI report, the vacuum mixing devices market reflects a fair degree of fragmentation, wherein a large pool of regional manufacturers is competing neck to neck. Stryker Corporation and Zimmer Biomet remain two of the market goliaths, with strong product portfolios and extended regional presence.

A majority of the revenues of these two companies are generated from the US and Germany, and their focus on strategic collaborations will continue to yield significant profit benefits and ensure sustained growth. For instance, in 2018, Zimmer Biomet Holdings, Inc. – a global leader in musculoskeletal healthcare – collaborated with Apple to transform the patients’ journey for the two most common types of surgeries undergone by Americans every year – knee and hip replacement. This collaboration was aimed at popularizing the Zimmer Biomet ‘my mobility’ app, an app that makes use of Apple Watch to facilitate constructive connections between patients and their respective surgical teams.

The FMI analyst finds that though the factors conditioning success differs for market players of varying statures, in all cases, the market partakers will have to be adept at effective tracking of the evolving market trends and make necessary adaptations.

Vacuum Mixing Devices Market Key Companies Profiled:

Zimmer Biomet
Heraeus Holding
Stryker
DJO Global, Inc.
Summit Medical
OSARTIS GmbH
SIRIO DENTAL S.R.L.
DENTALFARM SRL
Eurocem Srl
Whip Mix Corporation

Portability: The New Normal Grappling End User Appeal

In 2018, the devices with vertical orientation are estimated to surpass other variants and account for over ½ of the global vacuum mixing devices-derived value. Though end users will continue to invest in vertical vacuum mixing devices, the demand for rotational vacuum mixing devices will also see a considerable uptick through 2029, unveils FMI.

With ‘portable’ emerging as the new norm in the medical laboratory equipment space, manufacturers are jumping onto the ‘portability’ bandwagon by launching newer models of vacuum mixing devices that are easy to carry and compact in size. According to the FMI analysis, North America (29%) and Europe (26%) will continue to be the leading markets for vacuum mixing devices in 2019 and beyond, set in motion by robust healthcare infrastructure and massive investments in the development of high-quality laboratory essentials.

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Vacuum mixing devices worth ~ US$ 128 Mn were sold in hospitals in 2018, primarily driven by the growing number of inpatient and outpatient procedures. Manufacturers, to draw upon this increase in demand, are focusing on the effective marketing of their products to hospitals by using ‘easy-to-use’ and ‘compatibility with varying viscosities’ as two of their key marketing touchpoints. However, various regulations put in place for the manufacturing of vacuum mixing devices will continue to impede its penetration by increasing the ‘time-to-market’ factor.

Key Segments Covered in Vacuum Mixing Devices Market Research

By Product:

Vertical Vacuum-Mixing Devices
Rotational Vacuum-Mixing Devices
Vertical+Twisting Vacuum-Mixing Devices

By Modality:

Bench Top Devices
Portable Devices

By End User:

Ambulatory Surgical Centers
Hospitals
Specialty Clinics

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Gas Pressure Regulators Market Revenue Share to Drive Past USD 4.4 Billion by 2033, Growing Steadily at 3.4% CAGR | FMI Study

The global gas pressure regulators market is poised for significant expansion, with an expected valuation of USD 3.2 billion in 2023, primarily fueled by the sustained growth of the oil and gas industry. Projections indicate a steady Compound Annual Growth Rate (CAGR) of 3.4% from 2023 to 2033, positioning the market to reach an approximate valuation of USD 4.4 billion by 2033.

A key driver of this notable growth is the increasing demand for smart gas pressure regulators. These innovative devices represent a transformative leap in the industry, offering advanced functionalities through the incorporation of digital technology. Smart gas pressure regulators facilitate real-time monitoring and precise control of gas pressure, enhancing both performance and safety. This evolution underscores the industry’s unwavering dedication to adopting cutting-edge solutions for improved operational efficiency and safety standards.

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Factors Fueling Growth in the Gas Pressure Regulators Market:

The robust expansion of the Gas Pressure Regulators market is underpinned by several compelling drivers that are shaping its trajectory.

Rising LPG Usage: The increased utilization of liquefied petroleum gas (LPG) for cooking, heating, and transportation is a pivotal driver. Gas pressure regulators are indispensable for maintaining safe LPG pressure levels, driving their demand. The escalating LPG adoption across residential, commercial, and industrial sectors is set to propel the Gas Pressure Regulators market’s growth.

Technological Advancements: The integration of advanced technologies such as IoT, AI, and ML is accelerating the demand for Gas Pressure Regulators. Manufacturers are leveraging these technologies to enhance product performance and capabilities, driving market expansion. This trend reflects companies’ pursuit of efficiency enhancement, cost reduction, and safety improvement.

Industrialization Impetus: The burgeoning industrialization, especially in developing nations, is poised to elevate market prospects. Industries like oil and gas, chemical processing, and power generation are major end-users of gas pressure regulators. As these sectors witness growth, the demand for regulators for diverse applications will surge, fueling market growth.

Safety Awareness: Growing safety consciousness, particularly in industries like oil and gas where accidents have severe repercussions, is a pivotal growth driver. Gas pressure regulators play a crucial role in ensuring the safe operation of gas infrastructure. As safety standards rise, the demand for regulators is projected to escalate.

Key Insights from the Market Study:

The global Gas Pressure Regulators market was valued at USD 3.1 billion by 2022.
From 2018 to 2022, market demand expanded at a CAGR of 2.1%.
North America is poised to hold the highest market share of 34.5% during the forecast period.
Single-Stage Regulators are projected to constitute a CAGR of 3.2% by 2033.
The Industrial segment is expected to dominate the market with a 3.0% CAGR in 2033.
Gas Pressure Regulators services are anticipated to flourish at a CAGR of 3.4% from 2023 to 2033.
By 2033, the market value of Gas Pressure Regulators is expected to reach USD 4.4 billion.

Competitive Landscape:

The Gas Pressure Regulators market is characterized by a competitive landscape, with key players driving the industry forward. Notable participants include Essex Industries, Greggerson Gasetechnik, GMR GAS s.r.o., V.K. Engineering Works, Emerson Electric Co., Athena Technology, Cavagna Group, and more. These companies are strategically aligning through agreements, mergers, and technological innovations to reinforce their market presence and cater to the growing demand for Gas Pressure Regulators.

Recent Developments:

In August 2020, Linde plc. announced the launch of its new SERIES 4 range of gas pressure regulators for industrial applications. The regulators offer improved safety, reliability, and accuracy, and are designed to operate in harsh environments.
In May 2020, The Linde Group and Beijing Green Hydrogen Technology Development Co., Ltd. signed a cooperation agreement to jointly promote the development of China’s hydrogen energy industry. The agreement includes the development and supply of gas pressure regulators for hydrogen refueling stations.

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Key Segments Covered in the Gas Pressure Regulators Industry Analysis:

By Type:

Single Stage Regulator
Dual Stage Regulator
Third Stage Regulator
Dual Inlet Regulator
Auto Changeover Regulator

By Type of Gas:

Fuel Gases
- Liquid Propane
- Compressed Natural Gas
Corrosive Gases
Oxidizers
Inert Gases
Toxic Gases

By End-User:

Commercial
Industrial
Household

By Region:

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

Author:

Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

About Future Market Insights (FMI)

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FMI Study States Global Commercial Deep Fryer Parts & Accessories Market Size Aims to Cross USD 730.5 Million by 2033, Driving 12% CAGR Growth

The commercial deep fryer parts & accessories market is forecasted to exceed a valuation of USD 730.5 million by 2033, propelled by a robust Compound Annual Growth Rate (CAGR) of 12%. With an initial valuation of USD 210 million in 2022, this market is primed for substantial growth, with projections indicating a valuation of USD 235.2 million by 2023.

A significant transformation is underway within the commercial deep fryer sector, marked by notable trends such as the incorporation of advanced filtration systems into fryers. This progressive shift is revolutionizing oil management efficiency, ensuring prolonged preservation of oil quality. The integration of fryers with built-in filtration systems not only results in significant cost savings but also enhances culinary success, fostering an environment of continuous innovation and heightened efficiency within the culinary industry. The commercial deep fryer parts and accessories market stands as a testament to these transformative changes, reflecting a steadfast commitment to excellence and innovation in the culinary domain.

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Rising Demand for Enhanced Features Fuels Growth in Commercial Deep Fryer Parts & Accessories Market:

The adoption of advanced features like digital controls and temperature monitors is gaining significant traction among consumers, prompting commercial establishments to embrace deep fryers and their associated parts and accessories. With a growing number of restaurants, hotels, and other food service venues entering the fray, the demand for commercial deep fryer parts is set to surge.

The Flourishing Convenience Food Industry Drives Demand:

The expanding convenience food industry is poised to drive the demand for commercial deep fryer parts. These parts play a vital role in the production of convenience foods, propelling the growth of the convenience food sector itself. The surging popularity of deep-fried snacks, including favorites like French fries, onion rings, and chicken wings, is anticipated to further amplify the demand for deep fryer parts in the years ahead.

Key Insights from the Market Study:

Deep fryer parts catering to commercial needs were valued at approximately USD 210 million in 2022.
The market valuation for commercial deep fryers and accessories is poised to attain USD 235.2 million in 2023.
North America emerges as a highly promising market, projected to command a robust 67% revenue share in 2023.
Filter systems are predicted to be the most in-demand component, expected to account for one-third of global revenues.
Quick-service restaurants are set to be the primary end-users, with an estimated 5% Compound Annual Growth Rate (CAGR) from 2023 to 2033.

“The rising inclination toward energy-efficient commercial fryers meeting industry standards, coupled with lucrative profit margins from fried food products, is anticipated to propel the market for commercial deep fryer parts and accessories,” notes an analyst from Future Market Insights.

Competitive Landscape: Innovations and Leadership in Focus

Numerous enterprises are anticipated to prioritize research and innovation in the foreseeable future, propelled by strategies involving product line expansions, acquisitions, and mergers. Notable players within the commercial deep fryer parts & accessories market include Taurus Group, The Middleby Corporation, Henny Penny, Illinois Tool Works Inc., WinCo Foods, Inc., Avantco Equipment, AB Electrolux, Breville Group, National Presto Industries, and Manitowoc.

Strategic Leadership Enhancement:

In May 2022, a significant appointment was made as Ryan Kutter assumed the role of Chief Operating Officer at Henny Penny. With a wealth of experience spanning 28 years at Eaton, Kutter is expected to play a pivotal role in implementing the company’s visionary strategy of becoming a prominent global food service equipment supplier. Leading various aspects, including operations, engineering, parts, supplies, and the Suzhou facility in China, Kutter’s leadership comes amidst the company’s rapid growth trajectory.

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Key Segments Profiled:

By Fryer Types:

Gas Deep Fryer
Electric Deep Fryer

By Installation Type:

Floor-standing fryer
Countertop fryer

By Component:

Fryer Covers
Filter System
Sediment Trays
Basket
Screens
Casters

By Distribution Channel:

Offline Stores
Online Retail Stores

By End User:

Quick Service Restaurants
Food Trucks
Cafeterias
Ferry and Cruise

By Region:

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

Author:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

About Future Market Insights (FMI)

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FMI Projection States Global Banquet Carts Market Size Anticipated to Cross USD 1,800 Million Mark by 2033, Driving 8.5% CAGR Growth

The global banquet carts market is positioned for substantial expansion, with an estimated valuation of USD 800 million in 2023. Future Market Insights’ insightful analysis reveals a trajectory of remarkable growth, forecasting an impressive Compound Annual Growth Rate (CAGR) of 8.5% between 2023 and 2033. By the conclusion of this period, the market is anticipated to attain a substantial valuation of approximately USD 1,800 million by 2033.

Banquet carts distinguish themselves on the global stage through their integration with central compressor units, crucial components responsible for maintaining essential airflow for cooling purposes. Predominantly featured in supermarket sales areas and retail stores, these carts incorporate display cases with inlet valves facilitating precise cooling actions. Tailored to the specific products housed within the display cases, this meticulous temperature control ensures that the air temperature remains within prescribed specifications. Beyond the preservation of product quality, this level of control also mitigates potential risks of food contamination, solidifying banquet carts as indispensable assets in the market and significant contributors to culinary excellence.

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Customers are more prone to quick service restaurants and fast food outlets where people have enforced themselves with strict food quality leading to the safety regulations that ought to be followed by the employees as in recent times consumers are well aware of the quality of food services that leads the food making it unhealthy in terms of nutritional content.

Growing demand for customized banquet carts can be tailored to specific applications and industries where manufacturers can take advantage of the opportunity by offering a wide range of customization options, such as different sizes, configurations, and materials.

Key Takeaways:

Sales of global banquet carts market expanded at a CAGR of 7.8% from 2018 to 2022.

The Asia Pacific market for global banquet carts is likely to grow at a CAGR of 7.1%.
The North American market for global banquet carts market is likely to expand at a CAGR of 7.8%.
Heated banquet carts are expected to generate maximum demand for the global banquet carts market.
Hospitals are expected to register maximum sales of global banquet carts.

“Banquet carts and heated cabinets demand is expected to sustain owing to rising demand across quick service and fast-food retail giants,” says a Future Market Insights analyst.

Competitive Landscape:

Some of the prominent players in the global market are-

Alto-Shaam, Inc.
Bartscher GmbH
Cres Cor
Dinex International
FWE/Food Warming Equipment Company, Inc.
Lakeside Manufacturing, Inc.
Leighton Buzzard
Metro
Moffat Limited
Vulcan Industries, Inc.

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Some of the Important Developments of the Key Players in the Market are:

In May 2023, Vulcan Industries displays Tube Cleaning Systems at ACREX India 2023 Incepted in 2011 as a start-up company, Mumbai-based Vulcan Industries delivers solutions for mining, power generation, and solar power sectors. The company has ventured into the HVAC industry with the launch of Automatic Tube Cleaning Systems and Condenser Tube Cleaning Balls which are critical for improving the efficiency and reliability of chillers.
In February 2023, Kaneco, one of Ireland’s leading commercial kitchen specialists, will showcase Alto-Shaam’s complete kitchen equipment solutions including its latest innovation in the multi-cook category, Converge Multi-Cook Ovens at CATEX 2023.

Key Segments:

By Product:

Heated banquet carts
Non-heated Banquet Carts

By Application:

Hotels
Restaurants
Hospitals
Schools
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Author:

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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FMI Study Affirms Global Commercial Gas Restaurant Range Market Size to Cross USD 24,324 Million by 2033, Driving 5.5% CAGR Growth

The global commercial gas restaurant ranges market is positioned for significant growth, commencing at a substantial valuation of USD 13,497.6 million in 2022. With a steady Compound Annual Growth Rate (CAGR) of 5.5%, as forecasted by Future Market Insights (FMI), an impressive trajectory is anticipated, projecting a noteworthy value of USD 24,324 million by the culmination of 2033.

Restaurants worldwide, steeped in diverse culinary traditions, place great emphasis on the pivotal role of commercial gas ranges at the core of their kitchens. Serving as the linchpin of culinary operations, these ranges offer consistent and reliable cooking capabilities, presenting a cost-effective and efficient approach to crafting delectable dishes. Recent years have witnessed a transformative evolution in commercial gas restaurant ranges, embracing contemporary, streamlined designs that prioritize both energy efficiency and environmental sustainability. In this dynamic culinary landscape, the commercial gas restaurant ranges market emerges as a vital component in the pursuit of gastronomic excellence and environmental consciousness.

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The United States recorded the largest market share of 33.30% in 2022 due to the emergence of chain restaurants, the increase of street food stalls, and the growth of cloud kitchens. The increasing government ban on natural gas usage due to pollution and healthcare concerns will hinder the market’s growth further.

As global expenditure on kitchen devices rises, compact designs become more prevalent, and advanced technologies become more readily available in developed countries, the kitchen devices segment is expected to dominate.

Key Takeaways from the Market Study:

Commercial gas restaurant ranges were expected to grow at a compound annual growth rate of 4.40% between 2023 and 2029.
Based on 2022 market projections, Japan held a market share of 5.70% in 2022.
Commercial gas restaurant ranges were dominated by Australia, which held a 3% share during the forecast period.
The market share of home bakers and street food businesses in the United Kingdom is forecast to grow at a 6% CAGR.
China is projected to exhibit the fastest growth rate with a CAGR of 6.20% in the forecast period.

“It is projected that a growing array of aesthetic designs, colors, shapes, and sizes will continue to take hold at a lucrative rate in the next few years. This is primarily due to the increasing prevalence of restaurant businesses in the market.” comments a Future Market Insights analyst.

Competitive Landscape:

Key players in the commercial gas restaurants market are GE Appliances, Middleby Corporation, ITW Food Equipment Group LLC, Electrolux AB, Comstock-Castle Stove Co., Inc., Elica SPA, Whirlpool Corporation, Elster GmbH, Comet Kitchen Company, Kanteen India Equipments Co., Jindal Gas Appliances Pvt. Ltd. and Shree Ambica Industries, among others.

These companies are investing in the development of new technologies for efficient and energy-saving cooking appliances, such as induction cooking, which has become increasingly popular among chefs in recent years.

In April 2023, AdvancePoint Capital, LLC continues to provide flexibility and diversity in its services. The company believes that providing capital and education can help more restaurant entrepreneurs succeed since restaurant ownership is extremely difficult – most fail within five years of opening.
It provides small businesses with the financial resources they need through a variety of lending programs and expert guidance. A flexible repayment plan is also offered by the company to suit the needs of every customer. As an equipment dealer, working capital provider, and loan provider, AdvancePoint Capital is always available to assist.

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Key Segments Analysed:

By Type:

LPG Range
Coal Gas Range
Natural Gas Range

By Power Source:

Gas
Electrical

By Pricing:

Economical
Premium

By End User:

Retail
Hospitality
Food & Beverage Processing
Hotels & Restaurants
Others

By Application:

Ranges & Braising Pans
Fryers
Griddles & Hot Plates
Deck & Convection Oven
Steam Equipment
Boilers
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Author:

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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Global Industrial Rolling Ladder Market Analysis Report States the Industry to Cross USD 353.4 Million by 2034, Driving 4.3% CAGR Growth

The global industrial rolling ladder market is anticipated to reach a valuation of USD 221.1 million in 2024, driven by market penetration in developing regions. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.3% between 2024 and 2034, and reaching a total valuation of approximately USD 353.4 million by 2034.

One of the major factors contributing to the growth of the market is the customer education and awareness. The provision of training programs and educational materials on the proper use, maintenance, and safety considerations of industrial rolling ladders can create opportunities for manufacturers to add value and differentiate their products in the market.

The demand for customizable and modular industrial rolling ladders is growing. Businesses often require solutions tailored to their specific applications, and manufacturers offering a range of customization options can seize opportunities in niche markets.

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The rise of rental and leasing services for industrial equipment, including rolling ladders, provides an alternative for businesses that may not want to invest in outright purchases. Offering flexible leasing options can be a strategic move for manufacturers to tap into a broader customer base.

Industries operating in harsh environments, such as chemical plants or outdoor construction sites, demand ladders made from anti corrosive and durable materials. Manufacturers incorporating these features into their products can cater to specific industry needs.

The integration of AR and VR technologies in industrial training and maintenance processes presents opportunities for industrial rolling ladder manufacturers. AR and VR applications can assist in training users on ladder safety and guide maintenance personnel through repair processes.

The use of lightweight materials, such as aluminum and composite alloys, is gaining traction. Lightweight industrial rolling ladders are easier to maneuver and transport, making them desirable for applications where mobility is crucial.

The aerospace and defense industries often have specific requirements for access equipment due to the nature of their operations. Manufacturers targeting these verticals with specialized industrial rolling ladders can find opportunities in sectors that prioritize precision and safety.

Key Takeaways from the Market Study:

Global industrial rolling ladder market was valued at USD 211.6 million by 2023-end.
From 2019 to 2023, the market demand expanded at a CAGR of 4.8%.
The market in India is expected to expand at a CAGR of 5.0% through 2034.
By product type, the cantilever segment to account for a share of 35.0% in 2024.
From 2024 to 2034, industrial rolling ladder market is expected to flourish at a CAGR of 4.3%.
By 2034, the market value of industrial rolling ladder is expected to reach USD 353.4 million.

“Increasing demand for mobile and portable access solutions is driving innovations in the mobility features of industrial rolling ladders. Foldable, retractable, or telescopic designs cater to industries that require compact storage and easy transportation,” remarks Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

Prominent players in the industrial rolling ladder market

Louisville Ladder
Cotterman
Hasegawa
Günzburger SteigtechnikTianjin Jinmao
Shanghai Ruiju
Altrex Ladder
Tri-Arc
Elkop
FACIAL
Chongqing Xituo
EGA Products

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Company Portfolio:

Established in 1979, EGA Products, Inc. has been a stalwart in the industrial products sector. The extensive product line of the company encompasses a diverse array of material handling equipment, including rolling ladders, fixed ladders, mobile and stationary access/work platforms, swing gates, step stools, stairways, stack racks, pallet rack accessories, and more.
Tri-Arc is a leading manufacturer of industrial rolling ladders, and work platforms. The product range of the company includes various ladder types designed for specific industrial applications.

Industrial Rolling Ladder Market Segmentation Analysis:

By Product Type:

Cantilever Rolling Ladders
Safety Rolling Ladders
Monster Rolling Ladders
360 Degree Rolling Ladders
Multi Directional Rolling Ladders

By End Use:

Warehouse
Distribution Centres
Manufacturing Facilities
Other End Use

By Region:

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

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Global Public Announcement System Market Valuation to Cross USD 1,715.10 Million by 2034, Driven by 5.6% CAGR | FMI Analysis

The public announcement system market is predicted to be valued at USD 976 million in 2024 and USD 1,715.10 million by 2034. Over the projection period, the public announcement system market is expected to surge at a CAGR of 5.60%.

Integrating artificial intelligence and IoT technologies within the public announcement system is a significant driver. These technological advancements are reshaping traditional public announcement system into intelligent, adaptive system capable of automated announcements, predictive maintenance, and seamless connectivity.

AI powered public announcement system facilitates personalized and context aware communication, enhancing the user experience across various sectors.

Sustainability concerns are steering market dynamics. Public announcement system manufacturers increasingly emphasize eco-friendly solutions, incorporating energy efficient features and materials. This shift aligns with global sustainability initiatives and addresses the growing demand for green technologies, influencing consumer preferences and market trends.

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Diversification into nontraditional sectors is a key driver. The expanding use of public announcement system in healthcare, education, hospitality, and other industries is propelling market growth. Public announcement system is now an integral for safety protocols, emergency notifications, and enhanced communication in these sectors, driving demand and innovation.

Cloud based public announcement system solutions also contribute significantly. Its scalability, flexibility, and cost effectiveness are reshaping the market landscape. Cloud based public announcement system enables remote access, seamless updates, and centralized management, catering to the evolving needs of businesses and institutions.

The rise of smart cities and infrastructural developments globally are driving the adoption of public announcement system. The need for effective communication systems in urban planning and transportation fuels the demand for advanced public announcement system solutions.

Key Takeaways from the Public Announcement System Market Study:

India spearheads the public announcement system market with a 6.30% projected CAGR until 2034.
United States leads with an estimated 5.20% CAGR by 2034.
The United Kingdom anticipates a 5.20% CAGR by 2034.
The transit stations category is forecasted to retain a 25.00% market share until 2023.
FMI predicts the outdoor segment to reach a 29.00% market share by 2023.

“Public announcement system market sees exponential growth driven by AI integration, transforming communication landscapes for diverse industries,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

How are Vital Players Revolutionizing the Public Announcement System Market?

Key public announcement system market players are revolutionizing the industry through innovative approaches. They integrate cutting-edge technologies like artificial intelligence and the Internet of Things to enhance public announcement system functionalities. These advancements enable automated announcements, predictive maintenance, and seamless connectivity, transforming traditional public announcement system into intelligent and adaptive systems.

These industry leaders focus on eco-friendly solutions, introducing energy efficient public announcement system options that align with global sustainability goals. By diversifying applications across sectors such as healthcare, education, and hospitality, these players are reshaping the public announcement system landscape, catering to evolving communication needs, and setting new standards for efficiency and reliability.

Product Portfolio:

Anchor Audio offers a diverse product portfolio of portable sound systems, amplifiers, and public announcement system. Their range includes innovative audio solutions designed for events, education, and public spaces, renowned for their durability, clarity, and versatility.
Behringer presents a comprehensive line of audio equipment, spanning mixers, amplifiers, speakers, and studio gear. Their products integrate cutting edge technology, delivering high quality sound solutions for professionals and enthusiasts alike, known for their reliability and affordability.
Bose Corporation showcases numerous audio products, including headphones, speakers, and sound systems. Renowned for their premium quality and immersive sound experience, their portfolio caters to audiophiles, delivering top tier performance and innovation across various audio categories.

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Top Key Players in the Public Announcement System Market:

FISHMAN TRANSDUCERS INC.
Peavey Electronics
PowerWerks
Pyle Audio
QFX, Inc

Segmentation Analysis of the Public Announcement System Market:

By Type:

Wired
Wireless

By Frequency:

Less than 50 Hz
More than 500 Hz

By End Use:

Manufacturing Facilities
Transit Stations
Event Organizers
Other End Use

By Region:

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

Author:

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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