Orthopedic Braces and Support Market At a 6.7% CAGR, it is expected to surpass USD 8.8 billion by 2034.

Disposable Medical Sensors Market
Disposable Medical Sensors Market

The orthopedic braces and support market is expected to grow at a compound annual growth rate (CAGR) of 6.7% over the course of the assessment period, from its estimated worth of USD 4.6 billion in 2024 to USD 8.8 billion in 2034.

Fundamentally, the market for orthopedic braces and supports represents the ability of human creativity and technology to change lives. Orthopedic braces serve a critical role in regaining independence and improving quality of life, from relieving the pain of injuries to supporting people with limited mobility.

The tremendous effect this market expansion has on people and communities globally is more important than just the numbers. Every statistic conceals a tale of tenacity, resolve, and the unyielding spirit of those who refuse to let their physical limits define them.

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Global demand for orthopaedic braces and support is being driven by rising rates of orthopedic disorders as well as technological improvements in brace technology. These items are essential for giving people with musculoskeletal disorders or injuries stability, support, and pain alleviation, which increases mobility and improves quality of life.

Key Takeaways :

  • Rising Incidence of Orthopedic Disorders: The prevalence of orthopedic conditions such as osteoarthritis, osteoporosis, and sports injuries is increasing globally, leading to a growing demand for orthopedic braces and support products.
  • Increasing Awareness and Adoption: There is a growing awareness among patients and healthcare professionals about the benefits of using orthopedic braces and supports for rehabilitation, injury prevention, and pain management, driving the adoption of these products.
  • Technological Advancements: Advances in materials science and manufacturing technologies are enabling the development of lightweight, ergonomic, and customizable orthopedic braces and support solutions, enhancing patient comfort and compliance.

As the global population continues to age and lifestyles become increasingly sedentary, the demand for orthopedic braces and support products is expected to witness sustained growth in the coming years.

Top Recommended Strategies to Stay Ahead of Market Competition:

  • Key players can use smart sensors, materials, and biofeedback mechanisms to provide rehabilitation experiences and personalized support for effective rehabilitation bracing solutions.
  • Companies need to prioritize research to develop new materials, applications, and designs for braces and support to effectively meet the needs of patients and align with emerging trends.
  • Industry participants can consider collaborating with experts to prepare products validated for science and practical use cases.
  • Market contenders can offer customization options like personalized support levels and custom-fit braces to meet individual needs effectively.
  • By focusing on streamlining the purchase process, like offering hassle-free returns and convenient online ordering options, players can build loyalty and trust among their target market.

Recent Developments

  • In October 2023, OrthoPediatrics Corp. launched the DF2 Brace as a strategy to expand into non-surgical business to treat kids suffering from musculoskeletal injuries.
  • In September 2023, Enovis Corporation officially disclosed the acquisition of LimaCorporate S.p.A. The acquisition of the latter company added a wide variety of orthopedic medical devices like braces and other support apparatus.

Key Players in the Orthopedic Braces and Support Industry:

  • DJO, LLC (United States)
  • Zimmer Biomet (United States
  • Medtronic (Ireland)
  • Stryker Corporation (United States)
  • Össur (Iceland)
  • NuVasive®, Inc (United States)
  • Integra LifeSciences Corporation (United States)
  • Globus Medical (United States)
  • OTTOBOCK (Germany)
  • AC Mould Engineering Limited (China)
  • Johnson and Johnson Services, Inc (United States)
  • Weber Orthopedic LP. DBA Hely and Webe (United States)
  • BSN medical (India)
  • Becker Orthopedic (United States)
  • OPPO MEDICAL INC (United States)
  • Langer Biomechanics (United States)
  • Frank Stubbs Company Inc. (United States)
  • DeRoyal Industries, Inc (United States)
  • Ascent Meditech Limited (India)
  • Alcare Co., Ltd (Tokyo)
  • Others

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Orthopedic Braces and Support Industry by Category:

By Product:

  • Braces and Supports Type
    • Knee Braces for Osteoarthritis and Ligament Injuries
    • Post-operational Knee Braces
    • Upper Spine Orthoses
    • TLSOs
    • LSOs
    • Soft Braces
    • Hinged Braces
    • Pneumatic
    • Non-pneumatic
    • Elbow Braces and Supports
    • Wrist Braces and Supports
  • Pain Management Products
    • Cold Therapy Products
    • DVT Products

By End-user:

  • Orthopedic Clinics
  • Over the Counter (OTC)
  • Hospitals
  • DME Dealers
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and the Pacific
  • East Asia
  • Middle East and Africa

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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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Global Solenoid Valve Market Revenue Share Estimated to Surge Past USD 6.9 Billion by 2033, Growing Steadily at 4.5% CAGR | FMI Projection

According to a recent FMI study, the solenoid valve market is anticipated to reach USD 4.5 billion in 2023. The market is projected to grow at a CAGR of 4.5% from 2023 to 2033, reaching USD 6.9 billion by 2033.

Strict regulations in the food and beverage and medical industries, especially in developed countries, are propelling the demand for solenoid valves in their production process. Additionally, today’s technology-driven environment is giving momentum to automation in several industries. Since the increase in industries requiring power is rising, governments are coming forward to boost the capacity of the prevailing power plants and have sanctioned projects to build new power plants.

Surging concerns over the plants’ safety magnify the solenoid valve’s prospects. Owing to their strong magnetic field and electric current, solenoid valve makes for a great safety measure to debilitate the effect of a potential disaster.

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Key players in the market are making significant investments in research activities to expand their product lines. Locally increasing the manufacturing capacity also helps reduce the company’s operational costs. Key manufacturers are employing this business tactic to help increase their overall revenue.

Top Highlights from the FMI’s Analysis of the Solenoid Valve Market: 

  • The United States industry is projected to reach USD 2.2 billion by 2033. From 2023 to 2033, the market is expected to record a CAGR of 3.4%.
  • The United Kingdom solenoid valve industry is expected to reach USD 347.2 million by 2033 end. In the coming decade, the industry is anticipated to perceive a market CAGR of 3.7%, in contrast to the 4.3% CAGR observed in the historical period.
  • The China solenoid valve industry is expected to expand at a CAGR of 5.4% to reach USD 595.5 million by 2033. In the historical period, the market recorded a CAGR of 6.9%.
  • The Japan solenoid valve industry is projected to gain USD 503.1 million by 2033. Over the forthcoming period, the market is anticipated to expand at a CAGR of 3.9%, as opposed to a 4.7% CAGR in the historical period.
  • The South Korea solenoid valve industry is estimated to expand at a CAGR of 4.9% compared to the 6.2% CAGR observed in the historical period. By 2033, the market is projected to reach USD 280.6 million 2033.
  • Based on operation, the normally open segment is projected to expand at a CAGR of 4.4% over the forecast period. In the historical period, the segment registered a CAGR of 5.2%.
  • Based on function, the 2-way segment is projected to represent a CAGR of 4.3% in the next ten years. In the historical period, the market registered a CAGR of 5%.

Market Update: New Developments Taking Place in the Market

  • Kendrion exhibited its newly developed bistable solenoid valve 63.0 in October 2022 at COMPAMED 2022. The valve regulates the rate of flow. A joined permanent magnet ensures it is de-energized in the closed or open state without permanently energizing the coil. The valve is commercially available in a 3/2- or 2/2-way version and can be tailored to meet precise requirements.
  • Emerson, an engineering, technology, and software firm, began operations in Mahindra World City, Chennai, in February 2022. This unit develops pneumatics and fluid control products, such as cylinders, solenoid valves, pneumatic valves and manifolds, air preparation units, etc., for Emerson’s field-proven brands ASCO, AVENTICS, TESCOM, and TopWorx.

Challenges and Considerations:

  • Material Selection: Choosing the right materials for solenoid valves is crucial to ensure compatibility with various fluids, pressure ratings, and operating environments.
  • Leakage Control: Minimizing leaks is essential to prevent product waste, environmental contamination, and system inefficiency.
  • Cost Optimization: Balancing the cost of solenoid valves with their performance and reliability is a key consideration for manufacturers.

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Solenoid Valve Manufacturers in the Market:

  • Airtac
  • ASCO Valve Inc.
  • Danfoss Industries Limited
  • Curtiss-Wright Corporation
  • IMI Precision Engineering
  • Emerson Electric Co.
  • Juliang Valve
  • Parker Hannifin Corporation
  • Zhejiang Yongjiu
  • SMC Corporation

Solenoid Valve Market by Category:

By Type:

  • Direct-acting Valves
  • Pilot-operated Valves

By Function:

  • 2-way
  • 3-way
  • 4-way
  • 5-way

By Material:

  • Stainless Steel
  • Aluminum
  • Plastic
  • Others

By Operation:

  • Normally Open
  • Normally Closed
  • Universal

By Media:

  • Air
  • Gas
  • Water

By Industry:

  • Oil & Gas
  • Chemical & Petrochemical
  • F&B
  • Power Generation
  • Pharmaceuticals
  • Automotive
  • Medical
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and 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.

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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Diabetic Shoes Market highlighted in a detailed analysis along with growth, size, share, and forecast through 2033 | FMI

Diabetic Shoes Market
Diabetic Shoes Market

The growing focus on diabetic foot care, driven by an expanding diabetic population, is propelling the Diabetic Shoes Market toward steady growth. According to a recent analysis by Future Market Insights (FMI), the market is projected to reach a staggering USD 16.0 billion by 2033, surging from its current value of USD 8.6 billion in 2023. This translates to a significant Compound Annual Growth Rate (CAGR) of 6.4%.

This growth is driven by several factors, including the rising prevalence of diabetes and increased public awareness of this chronic illness. As market trends evolve, both the industry and the market are anticipated to experience significant growth in the coming years

Most people in the world are affected by Type 1 and Type 2 diabetes. Problems including neuropathy, loss of feeling, and numbness in the foot are brought on by high blood sugar levels. To prevent foot complications in a diabetic condition, proper foot care is crucial. Due to this high occurrence, medical professionals advise patients to wear diabetic shoes. Additionally, online merchants encourage their customers to purchase these shoes over other types of footwear by emphasizing their optimum effectiveness. Diabetic shoes are a helpful addition to a healthy diet, an active lifestyle, and the right medications for managing diabetes.

The therapeutic shoes’ exceptional comfort, added depth, flexibility, and lightweight qualities, as well as their availability in attractive designs and colors, all contribute to the expansion of the Global Diabetic shoe industry.

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Key Takeaways from Diabetic Shoes Market Study:

  • Based on product type, dress shoe leads the segment with a growth rate of 6.4%. The growing working-class population and the rising demand for trending designs that suit consumer outfits would serve as growth factors.
  • Women are more prone to diabetes due to their high SHBG levels. Growing awareness among women to maintain their physique and health would lead them to be the top end-users and lead the segment with a growth rate of 5.8%
  • The segment of online retailers is predicted to expand at a phenomenal CAGR of 10.8% throughout the projected period in terms of the sales channel. The segment’s expansion can be attributed to consumers’ increasing preference for online shopping.
  • The United States leads the market with a revenue share of US$ 5.7 billion. The population in the United States is more concerned about their health and hygiene, which leads them to spend highly on healthcare solutions.
  • China is among the most lucrative countries in the region, contributing a CAGR of 5.8% by 2033. The growing geriatric population is a crucial factor supporting the growth. Investments from various key businesses in the region are likely to serve as a potential opportunity for the market to grow.

Diabetic Shoes Market Competitive Landscape:

To grow their company internationally and gain a competitive edge in the global diabetic shoes market, top diabetic shoe manufacturers have implemented a variety of organic and inorganic strategies, including new product launches, mergers, partnerships, acquisitions, the strengthening of online sales channels, and the establishment of new manufacturing facilities.

Latest Developments in the Diabetic Shoes Market:

  • The development of smart footwear was revealed by Sensoria Health and Optima Molliter at the International Consumer Electronics Show (CES) in January 2018. Motus Smart footwear was unveiled by Microsoft, Optima Molliter, and Sensoria Health later in October 2019.
  • Orpyx SI sensory insoles were introduced in December 2019 by Orpyx Medical Technologies Inc., a leader in digital health therapies. These insoles may inform patients in real time and enable them to take action against high-pressure foot areas that could cause tissue breakdown.
  • New diabetic footwear from Von Wellex, Germany was introduced in 2021, a footwear that can reduce the possibility of foot issues.

Diabetic Shoes Market Key Companies Profiled        

  1. Asics, Drewshoe, Incorporated, O
  2. rthofeet Inc.,
  3. DARCO International, Inc.,
  4. Clearwell Mobility Company,
  5. Supad, Aetrex Worldwide, Inc.,
  6. Gravity Defyer Corp.,
  7. Kinetec Medical Products Ltd,
  8. Horng Shin Footwear Co.,
  9. Watts Footwear, DJO, LLC
  10. (Dr. Comfort),
  11. Advanced Diabetic Solution,
  12. Zen Products, Inc.,
  13. Sensoria Health

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Key Segments Covered in the Diabetic Shoes Market Report

By Product Type:

  • Dress Shoes
  • Running Shoes
  • Strolling Shoes
  • Others

By Patient Type:

By End User:

  • Men
  • Women

By Width:

  • Narrow
  • Medium
  • Wide
  • Others

By Sales Channel:

  • Direct Sales
  • Footwear Specialty Stores
  • Medical & Healthcare Centers
  • Online Retailers
  • Mono-brand Stores
  • Other Sales Channel

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East & Africa (MEA)

Author

Sabyasachi Ghosh (Associate Vice President at .) 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 faced by clients 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.

Explore the Related Reports from the Diabetic Shoes Markets!

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  2. The diabetic markers market size is projected to be worth US$ 928.1 million in 2023. The market is likely to surpass US$ 2.6 billion by 2033 Download the Sample Copy of this Report!
  3. The global diabetic ketoacidosis treatment market size is expected to reach US$ 3.5 Billion in 2022 and exhibit growth at a CAGR of 5.7% Download the Sample Copy of this Report!

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

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 Warm Syrup and Topping Dispensers Market Forecasted to Cross USD 6.5 Billion by 2033, Growing at 4.2% CAGR

The global warm syrup and topping dispensers market anticipates robust growth, projecting a value of USD 4.5 billion in the near future. Positioned for an exciting trajectory, this market is poised for compelling expansion, fueled by an anticipated Compound Annual Growth Rate (CAGR) of 4.2% from 2023 to 2033. By 2033, industry experts forecast an impressive valuation of approximately USD 6.5 billion.

Insights unveiled by Future Market Insights (FMI) unveil a transformative trend reshaping the warm syrup and topping dispensers market. This notable trend revolves around the escalating consumer preference for premium and specialty food products. In recent years, a discernible shift in consumer tastes has emerged, reflecting an increasing desire for unique, gourmet, and artisanal food items. Discerning consumers are no longer satisfied with the ordinary; instead, they actively seek high-quality ingredients, distinctive flavors, and visually appealing presentations to elevate their dining experiences.

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North America’s Sweet Streak in the Global Warm Syrup and Topping Dispensers Market:

In the realm of the global Warm Syrup and Topping Dispensers market, North America has been reigning supreme. The question on everyone’s lips is whether this dominance will persist, and what’s pouring fuel on the fiery growth? Let’s unravel the regional insights.

North America: A Delicious Market

The Warm Syrup and Topping Dispensers market in North America is on a delicious ascent, boasting a prominent Compound Annual Growth Rate (CAGR) of 4.1%. This growth can be attributed to the burgeoning breakfast and brunch culture that’s taking North America by storm.

Across the United States and Canada, the breakfast and brunch culture is thriving. The rise of breakfast-focused establishments such as cafes, diners, and brunch spots is propelling the demand for warm syrup and topping dispensers. These dispensers play a pivotal role in elevating the breakfast experience, serving up delectable items like pancakes, waffles, French toast, and oatmeal with an array of warm syrups and mouthwatering toppings.

Nourishing the Breakfast and Brunch Culture:

One of the key factors fueling North America’s dominance in the Warm Syrup and Topping Dispensers market is the robust breakfast and brunch culture. As these culinary trends gain momentum, establishments are placing a premium on serving up mouthwatering breakfast options. Warm syrup and topping dispensers have become indispensable tools in delivering the perfect breakfast experience, contributing to their surging demand.

Asia Pacific’s Palate for Western Food Trends:

While North America continues to bask in the spotlight, the Asia Pacific region is making waves in the Warm Syrup and Topping Dispensers market. With an expected CAGR of 4.0%, the region is embracing Western food trends with open arms. But what’s igniting this culinary transformation? Let’s dive in.

Asia Pacific: A Feast for Western Food Trends

In Asia Pacific, the driving force behind the growth of the Warm Syrup and Topping Dispensers market is the adoption of Western food trends. Countries like India and China are experiencing rapid urbanization, changing lifestyles, and the growth of a burgeoning middle class. These factors are driving the demand for dining out and foodservice establishments.

Warm syrup and topping dispensers are becoming essential fixtures in cafes, restaurants, and dessert parlors, enhancing the flavor and presentation of various culinary delights. As the foodservice industry continues to flourish in India and China, the demand for warm syrup and topping dispensers is set to rise.

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Key Players:

  • Server Products
  • Star Manufacturing International, Inc.
  • Nemco Food Equipment
  • Benchmark USA Inc.
  • Rosseto
  • Hatco Corporation
  • Zevro (Honey-Can-Do International)
  • Adcraft
  • Wilbur Curtis Co.
  • Bloomfield Industries

Key Segments Covered:

By Product Type:

  • Electric
  • Manual

By End User:

  • Foodservice Industry
  • Household

By Distribution Channel:

  • Online Retail
  • Offline Retail
  • Kitchen Stores
  • Department Stores

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & 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)

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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FMI States Global Prep Refrigerators Market Size Estimated to Surge Past USD 12.7 Billion Valuation by 2033, Growing Steadily at 4.5% CAGR

The global prep refrigerators market is poised for substantial growth, with an anticipated valuation of USD 8.2 billion in 2023 and a notable Compound Annual Growth Rate (CAGR) of 4.5% forecasted between 2023 and 2033. Fueled by a rising demand for eco-friendly refrigeration solutions, the market is projected to achieve a significant milestone, exceeding a valuation of USD 12.7 billion by 2033.

This impressive growth is driven by the increasing adoption of commercial kitchens, particularly within the thriving food service industry. Insights from Future Market Insights (FMI) reveal that the burgeoning food service sector, especially in emerging economies, is spurring the need for large-scale food production. This surge in food production necessitates specialized equipment, including commercial kitchens, thereby driving the demand for prep refrigerators. The market’s trajectory underscores its pivotal role in supporting sustainable practices within the food industry and emphasizes its significance in meeting the evolving needs of the global culinary landscape.

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The growth of the prep refrigerators market is also being driven by the expansion of the food service industry in emerging economies. A growing need for commercial kitchens and food storage solutions has been witnessed, as more people dine out more frequently. The need for customized and flexible refrigeration solutions that can meet the unique needs of individual businesses is also piquing the interest of food service providers in prep refrigerators.

Key Takeaways:

  • The global prep refrigerators market was valued at USD 7.8 Billion by 2022.
  • From 2018 to 2022, the market demand expanded at a CAGR of 2.3%.
  • North America is expected to hold a dominant CAGR of 4.4% during the forecast period.
  • By type, combination refrigerated prep tables are expected to rise in demand at a CAGR of 4.3%.
  • By distribution channel, online retail stores are expected to dominate the market with a CAGR of 4.2%.

Competitive Landscape:

Prominent players in the prep refrigerators market are TRUE, Empura, Dover Corporation, Electrolux Professional, The Middleby Corporation, Delfield, Nella, New Air, Atosa, Beverage Air, Turbo Air, Universal, Haier Group, Hoshizaki, and Leader, among others.

Recent Developments:

  • In 2021, True Manufacturing announced the launch of a new line of glass door refrigerators and freezers that use natural refrigerants and are designed to be highly energy-efficient. The company also expanded its production facilities in Missouri to meet the growing demand for its products.
  • In 2021, Dover Corporation completed the acquisition of So-Low Environmental Equipment Co., a manufacturer of low-temperature freezers and refrigerators. The acquisition is expected to expand Dover’s product portfolio and strengthen its position in the scientific and healthcare markets.
  • In 2021, Hoshizaki Corporation announced the launch of a new line of prep refrigerators with advanced features such as remote monitoring and digital controls.

More Valuable Insights Available:

Future Market Insights offers an unbiased analysis of the global prep refrigerators market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the prep refrigerators market, the market is segmented on the basis of type (prep tables with doors, prep tables with drawers, and combination refrigerated prep tables), by top type (standard top, mega top, and cutting top), refrigeration method (air-cooled, cold wall, and liquid jacket), by distribution channel (offline stores, and online retail store) across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Key Segments Profiled:

By Type:

  • Prep Tables with Doors
  • Prep Tables with Drawers
  • Combination Refrigerated Prep Tables

By Top Type:

  • Standard Top
  • Mega Top
  • Cutting Top

By Refrigeration Method:

  • Air Cooled
  • Cold Wall
  • Liquid Jacket

By Distribution Channel:

  • Offline Stores
    • Hypermarkets
    • Departmental Stores
    • Multi-brand Stores
    • Discount Stores
    • Specialty Stores
  • Online Retail Stores

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • 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)

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
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Surface Plasmon Resonance System Market Expected to Reach USD 1.6 Billion at a 5.1% CAGR by 2034

Surface Plasmon Resonance System Market
Surface Plasmon Resonance System Market

The global surface plasmon resonance system market is expected to reach a valuation of USD 1.0 billion by 2024, according to primary research consultants at FMI’s healthcare domain.

The market is expected to grow to USD 1.6 billion by 2034, proving that the favorable trend would continue. This translates to a 5.1% moderate CAGR for the projection period.

Imaging systems enable rapid expansion in report output throughput and steady, accurate motion. Furthermore, it is expected that the launch of multifunctional products for improved outcomes would support the surface plasmon resonance market’s growth throughout the course of the estimated year.

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The accuracy, versatility, and affordability of label-free detection technology suggest that the SPR business has a bright future. As science progresses, it is expected that SPR systems will play an increasingly important role in research and development programs across a range of scientific fields.

Key Takeaways of Surface Plasmon Resonance Market Study

  • The market share of imaging systems is evaluated to grow at a significant rate by the end of 2029, as these are the ideal solution for the analysis of label-free and multiplexed biomolecules.
  • Sales of surface plasmon resonance (spr) biosensors are envisaged to be higher in North America. Increasing adoption of imaging systems and biosensors in life science R&D is anticipated to boost the growth of the surface plasmon resonance market in the region.
  • Innovation while developing imaging software used in surface plasmon resonance for the analysis of kinetic parameters of biomolecular interactions is a key aspect for increasing the reproducibility of results. Companies are investing in R&D initiatives to introduce superior imaging devices with enhanced magnification, to observe the smallest deflection in the refractive index, thus aiding the growth of the surface plasmon resonance market.

“Increasing application of surface plasmon resonance in the field of drug discovery and medical imaging is contributing to the growth of the surface plasmon resonance market. Development of new technologies coupled with surface plasmon resonance, such as nanoparticle surface plasmon resonance and microfluidics, is playing an important role in the overall growth of the global surface plasmon resonance market.”

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Adoption of Label-free Detection Technique for Analysis of Biomolecules

Detection of biological analytes through their physical properties is difficult. As a result, researchers rely on the addition of some sort of label to one or more of the analytes that need to be studied. Inclusion of this label for increasing specificity and accuracy has increased the cost of reagents and assays.

To reduce assay cost and complexity while providing more qualitative information through labelled detection, adoption of the label-free detection technique such as surface plasmon resonance has increased, and is expected to fuel the growth of the global surface plasmon resonance market during the forecast period. The label-free detection technique simplifies the procedure by reducing the time and effort required for the development of the assay. Thus, increasing adoption of label-free detection techniques over labelled detection is expected to boost the growth of the global surface plasmon resonance market.

Surface plasmon resonance (SPR) is a powerful analytical technique that is used to study molecular interactions in real-time. It is based on the phenomenon of surface plasmons, which are collective oscillations of electrons on the surface of a metal.

Key players:

  • GE Healthcare
  • AMETEK.Inc.
  • Horiba

Key Segments

By Product:

  • Imaging System
  • Sensor System
  • Reagents

By Application:

  • Drug Discovery
  • Material Science
  • Biosensors

By End User:

  • Academic & Research Institutes
  • Food & Beverage Industry
  • Biopharmaceutical Companies
  • CROs
  • Others

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

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Global Commercial Microwave Oven Market Valuation Anticipated to Reach USD 3,263.3 Million by 2033, Growing Steadily at 4.3% CAGR

The global commercial microwave ovens market is positioned for significant success in the year 2023, with an anticipated value of USD 2,137 million. Future Market Insights projects substantial growth for this market, forecasting a steady Compound Annual Growth Rate (CAGR) of 4.3% between 2023 and 2033. This growth trajectory is expected to drive the market to an impressive valuation of approximately USD 3,263.3 million by 2033.

Commercial kitchens, prevalent across diverse settings such as full-service and quick-service restaurants, hotels, and hospitals, are known for their intensive energy consumption. Notably, their energy consumption is approximately three times higher per square foot compared to most other types of commercial buildings. Recognizing the significance of energy costs, which constitute a substantial portion—approximately 25%-30%—of the total operating expenses for these establishments, adds a critical dimension to the market landscape.

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Emerging Trends in Microwave-Compatible Packaging and Innovations in Commercial Ovens:

The adoption of microwave-friendly packaging is on the rise, emphasizing the importance of selecting appropriate food containers for use with commercial microwave ovens. It is essential to avoid metallic elements within microwaves, as they can cause explosions during radiation heating.

Materials used for packaging ready-to-eat and on-the-go food items are evolving to be microwave-friendly. Food service establishments can utilize these containers to microwave raw foods without additional utensils, saving time.

The utilization of such products results in higher power consumption, where both wattage and usage hours impact the electricity consumed. Energy utility companies charge based on the kilowatt hours used.

New features are being integrated into commercial microwave ovens entering the global market. Both residential and commercial customers are showing interest in combi ovens, which combine grills and convection microwave functionalities. The trend is shifting towards multipurpose microwave ovens that facilitate oil-free cooking due to rising health concerns.

Key Insights:

  • The global commercial microwave ovens market reached a value of USD 1,126.3 Million by the end of 2022.
  • Market demand grew at a Compound Annual Growth Rate (CAGR) of 3.4% from 2018 to 2022.
  • Asia-Pacific is expected to witness the highest CAGR of 4.17%.
  • North America’s microwave oven market is forecasted to achieve a CAGR of 4% during the projected period.
  • Countertop models contribute significantly to the market, projected to grow at a CAGR of 4.7% throughout the forecast period.
  • Bakeries are likely to account for the highest sales of commercial microwave ovens in the coming decade.

Competitive Landscape:

Some of the prominent players in the global market are:

  • Tuxton
  • CTDream
  • SignMission
  • Careform
  • Amana Commercial Microwaves
  • Galaxy
  • Solwave
  • Panasonic
  • Vollrath
  • Midea
  • Menu Master
  • Sentinel
  • Waring

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Key Players’ Noteworthy Developments:

In January 2023, Panasonic showcased its range of energy-efficient lifestyle products, advancements in e-mobility for electric vehicles and roadways, and initiatives for creating carbon-neutral communities at CES 2023. The company’s exhibition at CES was organized into four main areas: Park, Town, Mobility, and Home.

The booth’s design aimed to depict a more intelligent, eco-friendly, and interconnected world, illustrating Panasonic’s role in addressing matters related to personal well-being, community safety, and the sustainable future of our planet. Each section highlighted how Panasonic is contributing to transformative change aligned with its GREEN IMPACT initiative, which aims to globally reduce CO2 emissions.

Key Segments Profiled in the Commercial Microwave Ovens Market:

By Category:

  • Counter-Top Microwave Ovens
  • Over-The-Range Microwave Ovens

By Usage Type:

  • Light Duty (Upto 1200 Watts)
  • Medium Duty (1200-2000 Watts)
  • Heavy Duty (Above 2000 Watts)

By Control Type:

  • Dial
  • Touch Pad/Push Button

By Application:

  • Hotel
  • Restaurants
  • Cafes
  • Bakeries
  • Others

By Distribution channel:

  • Offline stores
    • Hypermarkets / Supermarkets
    • Multi brand store
    • Specialty store
  • Online retail store

By Regional:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • 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)

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

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Electrophysiology Market will hit USD 9,078.4 Billion in worth by 2034 at a compound annual growth rate of 7.60% | FMI

Electrophysiology Market
Electrophysiology Market

The field of electrophysiology, which focuses on the electrical activity of the heart, is experiencing a surge in market value. According to a new projection, the global Electrophysiology Market is expected to climb from USD 4,350.7 billion in 2024 to a staggering USD 9,078.4 billion by 2034. This translates to a robust Compound Annual Growth Rate (CAGR) of 7.60% over the next decade.

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The demand for cardiac ablation procedures is increasing across various geographies. Thus, spurring the adoption of electrophysiology devices and equipment. Certain common factors that drive market growth are increasing technological advancements in the field of electrophysiology and the rising prevalence of target diseases.

Advancements in electrophysiology have led to the development of enhanced devices that make procedures less invasive with improved atrial fibrillation treatment outcomes. Additionally, continuous technological upgrades in the applications of electrophysiology like cardiac magnetic resonance imaging (CMR), cardiac computerized tomography (CT), and electro-anatomic mapping, etc., are expected to accelerate product demand.

“Key players are focusing on innovation, advancement, and effectiveness of products to differentiate themselves and beat the market competition,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).

Key Takeaways from the Electrophysiology Market Report

  • In North America, the markets in the United States and Canada are estimated to expand at CAGRs of 9.6% and 8.8% through 2034, respectively.
  • In Europe, Germany and France are predicted to rise at CAGRs of 9.9% and 8.7% through 2034, respectively.
  • The Indian electrophysiology market is projected to expand at a CAGR of 7.9% from 2024 to 2034.
  • EP ablation catheters are estimated to capture a market share of 42.1% in 2024.
  • Atrial fibrillation is the top indication segment that is assessed to occupy a share of 63.4% in 2024.
  • The hospital segment is projected to acquire a market share of 62.6% in 2024.

Competitive Landscape

Key players are expected to expand their operations in emerging countries over the forecast period. Additionally, companies are concentrating on providing remote monitoring tools, educational programs, and other support services to assist patients in managing their conditions and enhancing their quality of life. Leading players are further acquiring smaller players that have the latest technologies to increase their market access.

Industry leaders are utilizing online channels like search engine optimization, social media, and webinars to educate patients and physicians alike about the benefits of electrophysiology.

Key Electrophysiology Companies

  • Abbott Laboratories
  • Johnson & Johnson (Biosense Webster, Inc.)
  • Medtronic Plc
  • Boston Scientific Corporation
  • Japan Lifeline
  • Koninklijke Philips N.V.
  • Merit Medical Systems
  • Biotronik SE & Co. KG
  • Microport Scientific Corporation
  • APN Health, LLC
  • Baylis Medical Company, Inc.
  • Others

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Recent Developments in the Electrophysiology Market

  • In January 2024, CardioFocus, Inc., a medical device firm, acquired the Galvanize Therapeutics’ Electrophysiology Technology division. In this acquisition, the notable assets include CENTAURI System pulsed electric field generator, which is available throughout the European Union and the United Kingdom. Another asset is QuickShot™ catheter ablation system, which is currently under development.
  • In August 2023, the use of cardiac electrophysiology (EP) services at Goa Medical College was approved by the state cabinet. Cardiac catheterization laboratory equipment will be used to treat patients and to train local cardiologists.
  • In January 2022, Abbott revealed that it had gained approval from the United States FDA for the EnSite X EP System equipped with EnSite Omnipolar Technology (OT). This new cardiac mapping platform is available across the United States and Europe and is designed to assist physicians in effectively treating abnormal heart rhythms, also called cardiac arrhythmias.

Key Segments in the Electrophysiology Market Report

By Product Type:

  • Electrophysiology Laboratory Devices
    • 3D Mapping Systems
    • Electrophysiology Recording Systems
    • Radiofrequency (RF) Ablation Systems
    • Intracardiac Echocardiography (Ice) Ultrasound Imaging Systems
    • Cardiac Stimulators
    • Others
  • Electrophysiology Ablation Catheters
    • Cryoablation Electrophysiology Catheters
    • Radiofrequency (RF) Ablation Catheters
    • Irrigated Tip RF Ablation Catheters
    • Laser Ablation Catheters
  • Electrophysiology Diagnostic Catheters
    • Conventional Electrophysiology Diagnostic Catheters
    • Advanced Electrophysiology Diagnostic Catheters
    • Ultrasound Electrophysiology Diagnostic Catheters
  • Access Devices

By Indication:

  • Atrial Fibrillation
  • Atrial Flutter
  • Wolff-Parkinson-White Syndrome (WPW)
  • Atrioventricular Nodal Reentry Tachycardia (AVNRT)
  • Ventricular tachycardia (VT)
  • Others

By End User:

  • Hospitals
  • Cardiac Catheterization Laboratories
  • Ambulatory Surgery Centers

By Region:

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

About the 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 faced by clients 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.

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About Future Market Insights (FMI)

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

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Cardiac Assist Devices Market to Exceed 2.48 Billion USD by 2033 at a 6.1% CAGR

Cardiac Assist Device Market
Cardiac Assist Device Market

The cardiac assist devices market is projected to surpass a valuation of USD 1.37 billion by 2023, with a significant growth trajectory anticipated at a Compound Annual Growth Rate (CAGR) of 6.1% through 2033. According to recent market research, the market is expected to reach an impressive USD 2.48 billion by the end of the forecast period.

The rapid growth of the cardiac assist devices market is primarily fueled by the incorporation of advanced technologies, such as the Internet of Thinking, and substantial investments from leading industry players. Over the past ten years, technological advancements in cardiac devices have dramatically improved therapeutic and monitoring outcomes, expanding the indications for their use and allowing more patients to benefit from these innovations.

The market for cardiac assist devices is not without challenges, despite a bright future. High costs and associated risks may limit market growth, especially when it comes to ventricular assist devices. These devices may be too expensive for patients in developing countries, which would limit their use and accessibility. Doctors recommend ventricular assist devices, but they also alert patients to potential risks such infections, suction events, and pump thrombus.

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It will take continual research and development to improve device safety and reduce complications in order to address these issues.
The industry for cardiac assist devices is anticipated to keep growing. Technological developments together with rising knowledge and use of less intrusive remedies should propel market expansion.
The creation of individualized and customized equipment suited to each patient’s requirements enhances results and patient satisfaction.

Key Takeaways:

  • The cardiac assist devices industry is anticipated to expand at a rate of 6.4% from 2023 to 2033 in the United Kingdom.
  • In 2022, the market for cardiac assist devices in Germany held an 11.2% share globally.
  • Ventricular assist devices are likely to dominate the market by drug class, accounting for around 62.49% share in 2022.
  • The hospital pharmacies sub-segment, in terms of end-user, is predicted to maintain a value share of 79.8% in 2022.
  • The cardiac assist devices industry in India is forecasted to advance at a CAGR of 5.1% during the forecast period.

How is the Competitive Landscape in the Cardiac Assist Devices Industry Structured? 

As per FMI’s analysis, continuous innovation and gradation in cardiac assist devices have led to intense competition among top market players.

Key players are focusing on new product launches and gaining approvals from regulatory bodies to stay in the competition. Nearly 75% of the global market share is accounted for by the top 7 players operating in the cardiac assist devices market.

Organizations are also adopting winning strategies such as collaborations and mergers among key players. These strategies are also adopted by regional players to gain a leading position in the industry. 

Key Players Operating in the Market

  • Terumo Corporation
  • Medtronic PLC
  • Abbott Laboratories
  • Abiomed Inc.
  • Teleflex Incorporated
  • Maquet GmbH
  • BerlinHeart GmbH
  • Others 

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Developments in the Market:

  • In June 2021, Abbott Laboratories announced that the company can support the expanded use of a mechanical circulatory support device, HEARTMATE 3™ Heart Pump, for the effective treatment of heart failure.
  • In February 2021, CARMAT, the leading designer and developer of the world’s most advanced artificial heart, received approval from the United States of America Food and Drugs Administration (FDA) to use the new version of its artificial heart in the US Early Feasibility Study (EFS).

 Market by Category:

By Product Type:

  • Ventricular Assist Devices (VAD)
    • Left Ventricular Assist Device (LVAD)
    • Right Ventricular Assist Device (RVAD)
    • Biventricular Assist Device (BIVAD)
    • External Ventricular Assist Devices
  • Intra-Aortic Balloon Pump

By Modality Type:

  • Transcutaneous
  • Implantable

By End User:

  • Hospital
  • Ambulatory Surgical Centers

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East & Africa (MEA)

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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
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Website: https://www.futuremarketinsights.com
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FMI Analysis States Global Commercial Electric Restaurant Ranges Market Share to Exceed USD 76.8 Billion by 2033, Growing at 5.6% CAGR

The commercial electric restaurant ranges market is witnessing significant momentum, with an anticipated valuation of USD 44.5 billion in 2023. Fueled by ongoing economic expansion and a surge in disposable incomes globally, the market is poised to maintain a robust Compound Annual Growth Rate (CAGR) of 5.6% from 2023 to 2033, ultimately reaching an impressive USD 76.8 billion by 2033.

A key catalyst for this growth within the commercial electric restaurant ranges market is the heightened emphasis on energy efficiency. With rising energy costs and growing concerns regarding environmental sustainability, there is a notable demand for energy-efficient solutions, positioning electric ranges as standout performers across various fronts compared to their gas counterparts. In the dynamic culinary landscape, the commercial electric restaurant ranges market emerges as a beacon of both culinary excellence and sustainability, shaping a compelling narrative for success in the evolving realm of food-service innovation.

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The increasing demand for energy-efficient and eco-friendly kitchen appliances is one of the primary factors driving the growth of the commercial electric restaurant ranges market. Commercial kitchens are looking for appliances that can help them reduce their energy consumption and environmental footprint as energy costs rise and there is a growing awareness of the need to reduce carbon emissions. Electric ranges are an excellent choice because they use less energy than gas ranges and do not emit harmful pollutants.

Another factor driving market growth is the growing popularity of electric cooking. As more people adopt plant-based and healthier diets, they are looking for cooking methods that are both healthy and sustainable. Cooking vegetables and other plant-based foods requires precise temperature control, which electric cooking provides. Furthermore, electric ranges do not emit the same amount of heat and smoke as gas ranges, making them a safer and more comfortable option for the kitchen.

Additionally, the rise of the foodservice industry is also driving the growth of the commercial electric restaurant ranges market. As more restaurants, cafes, and other foodservice businesses open up, the demand for commercial kitchen appliances is increasing. Commercial electric ranges are becoming more popular as they offer better control over temperature and provide consistent cooking results. Additionally, electric ranges are easier to clean and maintain, which is essential in a busy commercial kitchen.

Key Takeaways from the Market Study:

  • Global commercial electric restaurant ranges market was valued at USD 42.1 Billion by 2022-end
  • From 2017 to 2022, the market demand expanded at a CAGR of 3.3%
  • The United States is expected to hold the highest market share of 33.4% during the forecast period.
  • The Indian market is anticipated to witness a market share of 6.3%
  • From 2023 to 2033, commercial electric restaurant ranges services are expected to flourish at a CAGR of 5.6%.
  • By 2033, the market value of commercial electric restaurant ranges is expected to reach USD 76.8 Billion.
  • By Type, the Commercial Electric Ranges with Standard Oven segment is expected to constitute a CAGR of 5.4% in 2033.
  • On the basis of Application, the Full-Service Restaurants segment is expected to dominate the market with a CAGR of 5.3% in 2033.

“The increasing focus on food safety & hygiene, as well as surging technological advancements in the commercial electric restaurant ranges are the major factors that are anticipated to boost the market growth in the near future,” remarks an FMI analyst.

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Key Players:

  • Alto-Shaam, Inc.
  • Vulcan
  • Garland Group
  • Blue Seal Limited
  • Lang World
  • Rational AG
  • Blodgett
  • Electrolux AB
  • MKN Maschinenfabrik Kurt Neubauer GmbH & Co. KG
  • Falcon Foodservice Equipment
  • Stove Systems Pty Ltd
  • G.S. BLODGETT CORPORATION
  • Moffat Group Pty Ltd
  • American Range Corporation
  • Garland Commercial Industries LLC
  • Southbend
  • Montague Company

Key Segments Covered:

Commercial Electric Restaurant Ranges Market by Type:

  • Commercial Electric Ranges with Standard Oven
  • Commercial Electric Ranges without Standard Oven

Commercial Electric Restaurant Ranges Market by Power Rating:

  • 208V
  • 240V
  • 480V

Commercial Electric Restaurant Ranges Market by Application:

  • Quick Service Restaurants
  • Full-Service Restaurants
  • Hotels
  • Other Food Services

Commercial Electric Restaurant Ranges Market by Region:

  • North America
  • Europe
  • Europe
  • Latin America
  • 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)

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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