Market Research Blog – Page 1744 – New Product Development

Knee Reconstruction Devices Market to Increase at a 4.3% CAGR to Reach USD 13.0 Billion by 2033

The market for knee reconstruction devices market is anticipated to grow at a moderate pace of 4.3% CAGR from 2023 to 2033, when it is valued at USD 8.5 billion. By the end of 2033, the market for knee reconstructive equipment is projected to be worth around USD 13.0 billion.

According to Future Market Insights (FMI), the rapid expansion of the knee reconstruction devices market can be attributed to significant innovations in product design and functionality. Market participants are reaping the benefits of the increasing prevalence of knee-related ailments, such as arthritis and knee discomfort, which drive the demand for advanced knee reconstruction solutions.

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One of the key developments in the market for knee reconstruction devices is the requirement for the progress of less invasive surgical techniques and materials. These developments aim to improve patient outcomes, reduce surgical complications, and shorten recovery times. Additionally, the industry is witnessing an increase in funding for patient-specific knee implants and robotics-assisted surgery, which enhance precision and customization in knee reconstruction procedures.

As the world’s population ages and leads more active lives, the market for knee reconstruction devices is predicted to grow, offering a significant opportunity for the medical device sector. When everything is said and done, the market for knee reconstruction devices should grow steadily as it continues to evolve in response to patient needs and the changing landscape of healthcare.

Key Takeaways:

The global market is estimated to capture a valuation of US$ 13.0 billion with a CAGR of 4.3% by 2033.
In the historical period, the global market captured a CAGR of 2.8% between 2018 and 2022.
The United States is estimated to dominate the global market by capturing a share of 29.5% by 2033.
Germany is estimated to register a share of 8.1% in the global market during the forecast period.
Japan is predicted to secure a share of 5.0% in the global market during the forecast period.
With a CAGR of 4.4%, Australia is anticipated to drive the global market by 2033.

Competitive Landscape for the Knee Reconstruction Devices Market

There is a moderate market concentration in the knee reconstruction devices industry worldwide, with a few companies expected to account for most sales. Market leaders are putting more resources into Research and Development to create innovative products and gain approval from regulators more quickly to increase their knee reconstruction devices’ market share.

Recent Developments

As part of their work on a digital surgery platform that uses linked technologies, Johnson & Johnson Medical Devices Company (J&JMD) announced in January 2021 that the FDA had granted permission for their VELYS Robotic-assisted solution for use with their Attune Total Knee System.

Active Technologies received FDA clearance in March 2021 for its Citrespline and Citrelock ligament reconstruction devices, intended to prevent soft tissue damage during insertion. These devices can be used for reconstructive procedures on various joints, including the knee.

Furthermore, Conformis Inc. stated that its patient-specific iTotal PS total knee replacement system had been approved by the Therapeutic Goods Administration in Australia. This technology is intended to provide patients with reconstructive processes unique to their bodies.

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Key Companies Profiled:

Zimmer, Inc.
Stryker Corporation
DePuy Synthes
Smith & Nephew
Corin
United Orthopedic Corporation
Arthrex Inc.
Exactech Inc.
DJO Global
Japan Medical Dynamic Marketing
Tornier Inc.

Knee Reconstruction Devices Market by Segmentation:

By Product:

Cemented Implants
Cementless Implants
Partial Implants
Revision Implants

By End User:

Hospitals
Orthopedic Clinics
ASCs

By Indication:

Osteoarthritis
Rheumatoid Arthritis
Trauma
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
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.

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Website: https://www.futuremarketinsights.com
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Cardiac Surgery Devices Market To Achieve USD 2.4 Billion by 2032, Growing at a 3.6% Annual Growth Rate

The cardiac surgery devices market is poised for steady growth, with a valuation expected to reach USD 1.7 billion by the end of 2022. According to the latest market research, the market is projected to expand at a Compound Annual Growth Rate (CAGR) of 3.6% over the forecast period from 2022 to 2032. By 2032, the market is anticipated to achieve a valuation of approximately USD 2.4 billion, driven by the increasing prevalence of cardiovascular diseases.

In 2021, perfusion disposables led the market in terms of product type, holding a substantial demand share of about 59.1%. These devices are critical during open-heart procedures, such as coronary artery bypass grafting, congenital heart defect repair, abdominal aortic aneurysm repair, ventricular remodeling, and the implantation of cardiac assist devices.

Cardiac surgery devices, such as heart-lung machines, play an essential role in cardiothoracic surgery, particularly for performing cardiopulmonary bypasses. As cardiovascular diseases continue to pose major health challenges globally, the demand for these devices is expected to rise, driving market growth.

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By encouraging the use of perfusion disposables, the market for cardiac surgical instruments is anticipated to gain from the rising popularity of heart-lung machine tables. Cardiovascular disease is the leading cause of death in the United States, contributing to over one-third of all deaths worldwide and 17 percent of US healthcare costs. According to American Heart Association forecasts, by 2030, 40% of Americans will suffer from cardiovascular sickness, with a direct cost of over $820 billion.

Well-developed Medical Infrastructure Makes North America Keep its Crown

North America has a world-class medical infrastructure coupled with a population that is rapidly ageing and suffering from cardiopulmonary disorders.

This combination all but ensures that the region is larger than both Western Europe and APEJ combined in the year 2017 with a value of just under US$ 555 Million.

North America is on track to witness a CAGR of 4.1% for the period 2017 to 2027 that should see the market in the region touch US$ 830 Million by end 2027.

Most new developments are centred in North America and its high acceptance of modern technology make it an extremely lucrative region in the global cardiac surgery devices market.

Minimally Invasive Surgery Gaining Traction in Cardiac Surgery Devices Market

Coronary artery bypass grafting is anticipated to be the largest contributor in the cardiac surgery devices market by procedure in 2017 and it is unlikely to cede this position anytime soon.

However, modern advancements in cardiopulmonary bypass techniques, surgical approaches and incisions have made minimally invasive surgery increasingly popular in recent times.

Minimally invasive surgery has the advantage of reduced surgical trauma and decreased pain and this is anticipated to propel the cardiac surgery devices market in the long term.

In terms of CAGR these two segments hold the top position in the global cardiac surgery devices market, with coronary artery bypass grafting recording a value CAGR of 3.5% and minimally invasive surgery registering a 4.1% CAGR in terms of revenue during the forecast period.

Focus on Hospitals over Ambulatory Surgical Centres in the Cardiac Surgery Devices Market

The hospitals segment is larger than the ambulatory surgical centres segment by end user in the cardiac surgery devices market and this trend is predicted to continue for the foreseeable future.

An attractiveness index of 1.1 and a market opportunity of almost US$ 1.2 Bn by 2027 end should make all major companies actively target the hospitals end user segment in the cardiac surgery devices market.

Company Dashboard:

The companies actively involved in the global cardiac surgery devices market that have been profiled in the report include Biotronik, Braile Biomedica, Cook Medical Inc., Estech, Abiomed, Smith Medical, MicroPort Scientific Corporation, Edwards Lifesciences Corporation, Angiodynamics, Teleflex Incorporated, C. R. Bard, Inc, B. Braun Melsungen AG, Getinge-Maquet Germany Holding GmbH, Terumo Corporation, LivaNova PLC, Lepu Medical technology Co ltd., Boston Scientific Corporation, Medtronic, and Abbott Laboratories.

Important takeaways:

The increasing preference for minimally invasive surgical procedures is one of the recent trends seen in the cardiac surgery devices market.

In the last decade, minimally invasive cardiothoracic surgery has grown by leaps and bounds mainly because of the reduced pain and surgical trauma after this procedure.

Even though coronary artery bypass grafting is much larger at present, key stakeholders are advised to focus on minimally invasive procedures as patients will almost certainly prefer this form of treatment.

In addition to this, the beating heart surgery system type could see widespread adoption in the days ahead.

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Key Segments:

By Product:

Heart Lung Machine
Breathing Heart Surgery Systems
- Stabilisers
- Positioners
Catheters
- Ablation Catheter
- Drainage Catheter
Perfusion Disposables
- Oxygenators
- Centrifugal Pumps
- Cardioplegia Delivery System

By End User:

Hospitals
Ambulatory Surgical Centres

By Procedure:

Coronary Artery Bypass Grafting
- On pump CABG
- Off pump CABG
Minimally Invasive Surgery

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
MEA

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COVID-19 Diagnostics Market Booming at 7.7% CAGR: Poised to Reach USD 204.51 Billion by 2032 | FMI Study

The fight against COVID-19 continues to fuel advancements in diagnostic tools. The global COVID-19 Diagnostics Market is projected for exceptional growth, reaching a staggering USD 204.51 billion by 2032 at a robust Compound Annual Growth Rate (CAGR) of 7.7%. This anticipated surge reflects the vital role of accurate and efficient testing solutions in managing the ongoing pandemic.

The report features unique and salient factors that may make a huge impact on the development of the Covid-19 Diagnostics Market during the forecast period. It can help market players modify their manufacturing and marketing strategies to envisage maximum growth in the market in the years to come. The report provides detailed information about the current and future growth prospects of the market in the most comprehensive way for better understanding of readers.

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Key Segments of Covid-19 Diagnostics Market

FMI’s study on the market offers information divided into four important segments— Drug Class, Route of Administration, Application, and Region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Key Takeaways from FMI’s Covid-19 Diagnostics Market Study

Molecular assay holds the largest share right now and the trend is expected to continue till the end of 2020. This could be attributed to the fact that molecular assays have been looked upon as a gold standard for detecting novel viral infections
Diagnostic labs contributed to more than 60% of total market share in 2020’s first quarter

Key Challenges for Market Players & Researchers

Right now, the challenges faced include lack of information regarding the virus, like genetic information, biologics, duration of immunity in the recovered patients.

Certain treatment options that are expected to be potential game changers include ACE-Mab by Sorrento Therapeutics, HCQ (Hydroxychloroquine and chloroquine), Remdesivir antiviral by Gilead Sciences, and Canakinumab (Ilaris) by Novartis.

Moreover, options like cell-based therapies that involve natural killer cells or Mesenchymal stem cells and plasma therapies are on the verge of providing personalized treatment options.

Key Participant Insights

The key participants are focusing on acceleration of production as well as new product approval phase. For example – Novacyt Group, in Mar 2020, received EUA for 2-hour Covid-19 test. Also, in Apr 2020, CE approval was received by Abbott for IgG serology blood test for Covid-19.

The other players in the market include Veredus Laboratories, Thermo Fisher Scientific, Inc., Quidel Corporation, Perkin Elmer, Inc., Neuberg Diagnostics, Mylab Discovery Solutions Pvt Ltd., Luminex Corporation, Laboratory Corporation of America Holdings, Hologic Inc., Danaher, Cepheid, bioMérieux SA, Altona Diagnostics GmbH, ALDATU BIOSCIENCES, ADT Biotech Sdn Bhd, and 1drop Inc.

COVID-19 Diagnostics Market Key Segment

Product Type

Instruments
Test Kits
Reagents and Consumables

Sample Type

Oropharyngeal & Nasopharyngeal Swabs
Blood
Urine
Others

Technology

PCR
ELISA
POC

Region

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

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Companion Animal Specialty Drugs Market with a 4.21% CAGR, to Reach USD 56,828.56 Million by 2032

During the forecast period, the worldwide companion animal specialty pharmaceuticals market is anticipated to grow at a moderate rate of 4.21% CAGR. As of 2022, the market is valued at USD 37,624.67 million. By 2032, it is projected that the companion animal specialty pharmaceuticals market would have grown to a peak value of USD 56,828.56 million. For the market in question, Future Market Insights’ specialists have calculated a historical CAGR of 5.42%.

According to experts at Future Market Insights, the companion animal specialty drugs market recorded a historical CAGR of 5.42%, underscoring the sector’s consistent growth and increasing demand for specialized pharmaceuticals for companion animals.

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A major contributing element to the rise in sales and demand for animal nutrition and behavioral products is the rise in pet adoption. The need for anti-obesity medications has surged dramatically as a result of the rise in pet obesity over the past few years.

The COVID-19 epidemic and the ensuing worldwide shutdown in the first quarter of 2021 contributed to a rise in pet adoptions, especially of dogs and cats. Dog adoption is fairly common, particularly among senior citizens. It is anticipated that this will increase demand for skin care items, pet food, and medicines.

Key Takeaways

Urbanization and trend of nuclear families have been greatly helpful in increasing market share of companion animal drug market.
People have started considering pets as their family member and this led to increase in overall expenditure of a family, as a result this benefitted the companion market.
Increase in rising pet diseases have provided the industry with a positive push to manufacture more companion drugs to meet the demand
Industrial growth can likely be attributed to a rise food-borne and zoonotic diseases.
Increase in per capita income of urban population, have enabled people to take better care of their pets by means of diagnosis, vaccination, mitigation, and treatment of diseases such as kidney diseases, heartworms and Lyme diseases, which resulted in giving a boost for companion animal specialty drug market share.
COVID-19 had a positive impact on pet adoption rate, with a rise of 50% each year
Technological advancement has been a strong driving factor in market progression of companion animal drug market

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Competitive Landscape

Extensive mergers and acquisitions, product portfolios, geographical expansions, and collaborative research initiatives are some of the strategies undertaken by the leading players. Established players in this market have made alliances with different companies to increase their market reach and social media presence. Some well-established players in the US companion animal drug specialty market are:

Merck Animal Health
Elanco
Zoetis
Vetiquinol S.A.
Virbac, Inc.
Norbrook Inc.
Dechra Pharmaceuticals
Patterson Companies, Inc.
Vedco Inc.
Covetrus
MWI Animal Health
Nutramax Laboratories Veterinary Sciences, Inc.
Ellevet Sciences

Recent Developments

In 2017, Zoetis emerged as a leading player with the highest share of compassion animal specialty drugs, as the company has a considerable and significant market presence, a diverse portfolio of product offerings, and an acute strategic perspective which includes M&As, such as the acquisition of Abaxis in 2018.

In July 2019, Zoetis and Colorado state university made an agreement to establish a research lab for the development of immunotherapies for veterinary patients.
In August 2020, Elanco Animal Health Incorporatedannounced that it has acquired Bayer Animal Health. The transaction was valued at USD 6.89 billion. This development helped the company to expand itself in the durable animal health industry.

Key Segments in the Companion Animal Specialty Drugs Market:

By Product:

Antibiotics
Anti-Inflammatory Drugs
Parasiticides
Heartworm
Behavioral Products
Nutritional Products
Anti-Obesity Drugs
Skin Care Products
Vaccines

By Distribution Channel:

Modern Trade
Online Distribution
Neighborhood Stores
Other Retail Format

By Region:

North America
Latin America
Asia Pacific
Middle East & Africa (MEA)
Europe

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Cell Line Development Market is expected to reach a valuation of USD 10.6 Billion by 2033, With a 7.7% CAGR | FMI

The Cell Line Development Market is experiencing a significant upsurge, driven by advancements in biopharmaceutical research. According to a recent market analysis, the global cell line development industry is anticipated to grow at a robust Compound Annual Growth Rate (CAGR) of 7.7% from 2023 to 2033. This translates to a market value reaching a staggering USD 10.6 billion by 2033, compared to an estimated US$4.7 billion in 2022 and a projected USD 5.06 billion in 2023.

The substantial growth of the cell line development market is predominantly attributed to the increasing adoption of bio-therapeutics for treating chronic diseases like arthritis, diabetes, and cancer. This surge in demand is driving the need for automated cell line development and cell line development services.

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Rapid increase in prevalence of cancer and neurology disorders and lack of efficient treatment solution for these diseases has created the need of more advanced and efficient treatment pathway. Companies and government organizations are investing on research and development activities and are also focusing more on cell line development in search of new cellular pathway to develop novel drugs. The increased spending on biosimilar R&D from exiting biopharmaceutical companies would provide boost to cell line development market.

In recent time the contract research organizations are focusing on cell line development and cell line research activities. According to National Institutes of Health (NIH) the estimated total federal spending on all type of stem cell line research for 2017 is US$ 1.58 Bn. In developing countries like India, government is supporting cell line development through national funding agencies like Department of Biotechnology (DBT), Indian Council of Medical Research (ICMR), and Department of Science and Technology (DST).

Regenerative medicines are the next generation treatment solution and Cell Line Development or Cell Culture is a vital part for regenerative medicine. Increasing demand of regenerative medicines in cancer treatment would positively impacting the growth of Cell Line Development market over the forecast period.

The biopharmaceutical companies operating in development of novel drug line are expected to hold promising revenue opportunity in cell line development market.

Future Market Insights (FMI) has segmented the cell line development market based on product type, cell line source type, end user, type of cell line and region.

Product type segment in cell line development market is segmented into media and reagents, equipment and accessories. Reagents and Media are required from incubation to preservation of cell lines. These products are expensive and have repetitive use in cell culture or bio-production. Reagent and media segment in cell line development market is expected witness noteworthy growth in terms of revenue owing to rapid increase in demand in cell culture and cell based assays.

Cell line development market by cell line source is categorized into mammalian cells and non-mammalian cells. Mammalian cell line development is anticipate to witness significant growth in overall cell line development market. This growth of mammalian cells segment in cell line development market is driven by increased production of biologics drugs which require mammalian cells. Increasing antibody production is the major driving factor behind the growth of mammalian cell lines segment in cell line development market.

Mammalian cell lines are used to create therapeutic proteins through genetic building and antibodies through viral infection. For example, Gaucher’s disease, which is a genetic disorder characterized by lack of β-glucocerebrosidase enzyme and can be treated by Cerezyme which is a recombinant enzyme produces in mammalian cell lines. Mammalian cell lines are also useful in production of antibodies and other therapeutic agents such as specific binding proteins that can neutralize disease causing agents in the body. For example Under cell line type segment in cell line development market, recombinant cell line development are the most demanding type of cell line due to large application in biologics production, protein interaction, gene activation, toxicity testing and drug screening.

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Growing application recombinant cell line development in drug toxicity testing is expected to boost the growth of overall cell line development during the forecast period

North America and Europe cell line development market will dominate in owing to increasing government funding in cell line development research and rising spending on biosimilar developments. Asia Pacific cell line development market is expected to grow at a high growth rate due to increased number of research organization engaged in novel biologics and biosimilar fastest revenue growth in overall cell line development market.

The Asia Pacific region in Cell line development market is anticipate to witness increasing demand of biopharmaceuticals and regenerative medicines are expected to boost the growth of the cell line development market.

FMI’s report tracks some of the key companies operating in the cell line development market, such as Selexis SA, GE Healthcare, Corning Incorporated, Thermo Fischer Scientific, Inc., American Type Culture Collection (ATCC), Lonza (Sartorius Stedim Biotech S.A.), Danaher Corporation, Merck KGaA, WuXi Biologics.

Cell Line Development Market Key Segments :

Reagent and Media
Equipment
Accessories and consumables

By Source Type:

Mammalian cell line
Non-mammalian cell line

By End User:

Biopharmaceutical Companies
Contract Research Organizations
Academics and Research Institutes
Biotechnology Companies

By Cell Lines:

Recombinant cell lines
Hybridomas
Continuous cell lines
Primary cell lines

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Aromatherapy Market Anticipated to Reach USD 13,106.40 Million by 2034 at a 6.4% CAGR, this market is poised for significant growth.

The aromatherapy market is on track for substantial growth over the next decade, with the market expected to be valued at USD 7,048.0 million in 2024. According to recent market analysis, the aromatherapy industry is anticipated to expand at an encouraging CAGR of 6.4% from 2024 to 2034, reaching a projected valuation of USD 13,106.40 million by the end of the forecast period.

The aromatherapy market is expected to see significant advancements and diversification in product offerings over the forecast period. Companies in the industry are focusing on research and development to introduce new and innovative products that cater to the evolving needs of consumers.

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Key Takeaways

Several wellness professionals including spa therapists, aroma therapists, massage therapists, and gym trainers, prefer single and blended essential oils for the treatment of insomnia, anxiety, pain, agitation, stress, and other conditions because essential oils provide the desired therapeutic effects with minimal or no side effects. This is due to the fact that these treatments may be conducted without the use of medicines.
One of the crucial driving factors propelling the growth of the global aromatherapy industry is known to be its strong distribution network. Various essential oil markers are working on negotiating distribution arrangements with large retail corporations to make their goods available, which will result in greater penetration of aromatherapy treatments and products.
Aromatherapies are rapidly being preferred these days attributing their properties for relaxation is likely to contribute to the aromatherapy market’s revenue development. The development of inhalation aromatherapy for the treatment of sleep issues such as insomnia is significant market advancement.

Competitive Landscape

Dominant aromatherapy product manufacturers are employing multi-level marketing tactics in order to enhance product distribution and they are also considering hiring a large number of independent distributors. This has resulted in increased accessibility and affordability of aromatherapy goods are likely to stimulate global demand for essential oils and aromatherapy diffuser products.

An extensive marketing network of distributors is expected to benefit both global and local market participants. In addition to that, firms are providing their aromatherapy goods online, which are projected to assist the aromatherapy market’s growth.

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More Insights into the Aromatherapy Market

North America is expected to dominate the global aromatherapy market owing to the presence of crucial market competitors in the region. The growth in the region is also attributed to the surging sales of crucial oil for home use, lifestyle changes, a growing urban population, and the increased influence of the media are all factors boosting demand for aromatherapy goods in the region.

The aromatherapy market in Europe is expected to rise significantly over the forecast period. The rising popularity of aromatherapy as a therapeutic and pharmacological alternative is expected to drive market expansion in Europe. The majority of essential oils are sold in European nations including the United Kingdom, Germany, the Netherlands, Belgium, and Ireland.

Competitive Landscape in the Aromatherapy Market:

The aromatherapy market is heavily fragmented, with established companies tussling with local players in well-developed regions. The competition in the market is increasing with the experimentation done by market players to achieve dominance.

Market players are expanding geographically to increase market demand. Prominent player doTERRA is taking steps to expand into underdeveloped nations.

Recent Developments in the Aromatherapy Market

In March 2023, BASF planned expansion of its aroma ingredients facilities in Germany and China. The new manufacturing facility in Ludwigshafen will be concentrated on menthol and linalool downstream plants while the one in Zhanjiang was penned in for the citral plant.
In October 2022, International Flavors & Fragrances Inc. opened its innovation center in Singapore.
In September 2022, Young Living was the recipient of 17 essential oil production patents from the United States Patent and Trademark Office.
In April 2022, the WoodWick Radiance diffuser was launched by The WoodWick Candle Brand. The diffuser affords convenience to users because of its easy refueling process.
In March 2022, Saje Natural Wellness, in collaboration with The Little Market, unveiled a limited-edition diffuser called the Aroma Mosaic diffuser.

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Key Companies in the Aromatherapy Market:

doTERRA
International Flavors & Fragrances Inc.
Symrise
Edens Garden
Young Living Essential Oils
Rocky Mountain Oil
Mountain Rose Herbs
Plant Therapy Inc.
Thann-Oryza Co. Ltd.
Isagenix International LLC

Key Segments:

By Product:

Aromatherapy Consumables
- Essential Oils
  - Floral
  - Citrus
  - Herbaceous
  - Spicy
  - Woodsy
  - Earthy
  - Camphorous
  - Others
- Blended Oils
- Carrier Oils
Aromatherapy Equipment
- Nebulizing Diffusers
- Ultrasonic Diffusers
- Evaporative Diffusers
- Heat Diffusers

By Application:

Relaxation
Insomnia
Pain Management
Scar Management
Skin & Hair Care
Cold & Cough
Others

By Mode of Delivery:

Topical Application
Direct Inhalation
Aerial Diffusion

By Distribution Channels:

Aromatherapy Products Sold at Retail Shops
Aromatherapy Products Sold through Online Channels
Direct Distribution of Aromatherapy Products

By Region:

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

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Medical Carts Market is Expected to Reach USD 2,759.69 Million by 2034 at an Amazing 9.3% CAGR | FMI

The wheels are turning in the Medical Carts Market, and it’s headed for a remarkable journey. According to recent market research, the sector is poised for substantial growth and a surge in technological advancements. Currently valued at USD 1.14 billion in 2024, the market is projected to reach an impressive USD 2.76 billion by 2034. This significant leap translates to a robust Compound Annual Growth Rate (CAGR) of 9.3% over the next decade.

The healthcare landscape is evolving rapidly, and the demand for efficient and technologically advanced medical carts is at an all-time high. This growth is attributed to the increasing emphasis on patient care, streamlined workflows, and the integration of innovative features within medical facilities.

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Medical professionals can use these carts to transport medical supplies and equipment from one patient’s room to another safely and conveniently. According to Future Market Insights, the Global Medical Carts Industry was worth around US$ 859.6 million in 2021.

Medical Carts producers are focused on cutting-edge designs in response to rising demand for enhanced efficiency throughout hospitals. Product innovation and the expansion of hospitals and care centers will benefit the market.

Medical cart sales are predicted to increase as a result of advancements such as upgrading existing product lines, lighter designs, expanded battery capacity, and high versatility. Electronic health records and medical computer carts with built-in software will provide chances for Medical Carts industry participants.

Telemedicine carts have gained popularity as transportable patient care unit solutions as the focus on telehealth solutions has increased. These carts have the potential to improve patient care and safety while also increasing staff efficiency.

For example, Ergotron unveiled a cutting-edge update to their CareFit Pro Medical Carts in August 2021; it was built to grasp emerging workflows and prioritize healthcare professional well-being to drive patient-centered services.

“Rising needs for speed and ease of accessibility of the medical supplies, growing focus on patient safety, nursing efficiency and evolution of advanced technologies are expected to fuel growth in the Global Medical Carts Industry over the forecast period,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).

Global Medical Carts Industry Key Takeaways:

Unprecedented Growth: The projected CAGR of 9.3% showcases the unprecedented growth trajectory of the medical cart market. This growth is fueled by the ever-growing healthcare needs and the industry’s commitment to embracing cutting-edge solutions.2. Technological Advancements: The future of healthcare lies in technology, and medical carts are at the forefront of this revolution. Integration of advanced features, smart designs, and enhanced mobility options contribute to the surge in demand for these indispensable healthcare tools.
3. Enhanced Patient Care: Medical carts play a pivotal role in enhancing patient care by providing healthcare professionals with on-the-go access to critical equipment and patient information. The market’s growth aligns with the industry’s dedication to elevating the overall quality of healthcare services.

4. Streamlined Workflows: The market expansion is further driven by the need for streamlined workflows within medical facilities. Medical carts offer a portable and efficient solution for healthcare providers, contributing to improved efficiency and better patient outcomes.

Medical Carts Market Competition Landscape

Key players in the Global Medical Carts Industry are focusing on tapping market potential through adopting mergers & acquisitions strategies. Strategic partnerships, mergers and acquisitions, product-line expansions, and updated product launches are the key approaches implemented by manufacturers to expand their product range and consumer base in developing as well as developed countries. For instance:

In February 2022, Capsa Healthcare acquired Humanscale Healthcare, which enabled the Capsa offerings to be the broadest product suite in the market and expanded its capacity to offer ergonomically personalized point-of-care computing solutions to healthcare associates worldwide.
In September 2021, Ergotron signed an agreement with PT Murni Solusindo Nusantara as the official distributor in Indonesia. This collaboration is aimed at accelerating business transformation.

Medical Carts Market Key Players

Alimed Inc.
Advantech Co. Ltd.
Cybernet Manufacturing, Inc.
Highgrade Tech Co. Ltd.
Cardinal/Detecto Scale
Touchpoint Medical
Others

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Key Market Segments Covered in Medical Carts Market Research

By Product Type:

Emergency Carts
Procedure Cart
Anesthesia Cart
Computer Medical Carts
Specialty Carts
Medication Carts
Others

By Material Type:

Polymer
Steel
Aluminum

By Energy Source:

Powered
Non-powered

By End User:

Hospitals
Specialty Clinics
Ambulatory Surgical Centers
Diagnostic Centers
Rehab Centers
Nursing Homes
Homecare Settings

By Region:

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

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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Small Molecule API Market Expected to Reach USD 216.97 Billion by 2032, at a 5.0% CAGR | FMI Research

The market for Small Molecule API Market, the building blocks of many essential medications, is on a steady growth trajectory. According to industry estimates, the market is expected to generate USD 116 billion in 2023, with a projected climb to a substantial USD 174 billion by 2033. This translates to a Compound Annual Growth Rate (CAGR) of 4.1% over the next decade.

A small molecule drug can enter cells easily because it has a low molecular weight. Once inside the cells, it can affect other molecules, such as proteins, and may cause cancer cells to die. Increasing research on small molecule APIs and novel Biologics APIs will boost the market growth. The high-potency drug market is a growing pharmaceutical segment. The increasing prevalence of cancer and other chronic diseases owes to the need for oncology drugs and antibody-drug conjugates.

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The oncology market is growing enormously. High-potency drugs constitute significant new drugs that are under development. Small molecule demand still dominates the API market, however, new biological entity demand is also growing rapidly healthcare expenditure is resulting in new molecule discovery, the evaluation of various molecules for possible disease treatment, and the adoption of an innovative approach to these studies.

As increasing prevalence of chronic disorders like cardiovascular diseases, diabetes, cancer, and infectious diseases, and increasing research on small molecule APIs will boost the market growth. Besides this, government funding for API manufacturing units is also increasing in developing countries like India, Israel, and China. In May 2020, AstraZeneca recovered the global rights to brazikumab from Allergan. Small molecule monoclonal antibody is developed for Crohn’s Disease and Ulcerative Colitis and adds to their growing presence in Immunology

The coronavirus pandemic has changed public medical care needs and spending however this is viewed as a transient effect on the Small Molecule API market. The immense COVID-19 patient pool attracted the spotlight on the treatment of these patients, in turn increasing the demand for small molecule API.

Key Takeaways from Small Molecule API Market Study

As a result of increasing healthcare spending and favorable reimbursement policies, the U.S. accounts for over 87% of the North American small molecule API market
A rising focus on health and wellness will enable the U.K. to exhibit a little below 4% y-o-y growth in 2021
Germany will account for the maximum sales in Europe. Besides this, the demand from France is expected to rise
Increasing investment in research and development within pharmaceuticals will drive sales in China

“The market is highly competitive, compelling the key players to aim at strategic partnerships. Some of the leading players have been focusing on strategic collaborations to expand their footprint and portfolio” says the FMI Analyst

The use of external resources (people, equipment, and/or expertise) to facilitate the preparation of Active Pharmaceutical Ingredients (API) or advanced intermediates has become a common practice for most pharmaceutical development organizations. In early development, the reasons to seek external support for the manufacture of API were attributed to a number of factors, including a lack of sufficient internal capacity, a need to source unique technical expertise, or a desire to achieve overall cost reductions.

For organizations that have no internal GMP manufacturing capabilities whatsoever (e.g. biotech companies), outsourcing is, of course, a necessity. However, companies that have some level of internal manufacturing capacity may have options to use outsourcing to their strategic advantage. This outsourcing capability has increased the source of generating more revenue for new emerging companies. For the fast growth of the industry, they follow outsourcing strategies.

In addition, key players in the Small Molecule API market are keenly focusing on carrying out strategic activities such as advanced technology for manufacturing, and acquisitions, in order to create a strong position in the market is leading to vigorous developments which is helping the market to grow at a considerable rate.

For Instance, In January 2020, Novartis acquired of operations of Aspen in Japan. This acquisition strengthened Sandoz’s position in the world market of off-patent medicines and generic drugs manufacturing.

Key Participant Insights

Various manufacturers are undergoing partnerships, collaborations, acquisitions, and distribution agreements to improve their market footprint.

For Instance, in December 2020, Pfizer Inc. and PostEra announced a strategic partnership to accelerate small molecule drug discovery by developing a platform technology based on generative chemistry.

Also, in January 2020, Merck announced its strategic collaboration for an oncology platform with Taiho Pharmaceutical Co, Ltd. And Taiho Pharmaceutical Co., Ltd to expand its focus on small molecule inhibitors for cancer research.

Key players in the Small Molecule API market are focusing on developing novel drugs due to their demand across various therapeutic areas. Some of the key players are

Hoffmann-La Roche Ltd, Albany Molecular Research Inc., AstraZeneca, Merck & Co., Inc., BASF SE, Teva Pharmaceutical Industries Ltd., Sanofi S.A., Pfizer Inc., Nanjing King-Friend Biochemical Pharmaceutical Co., Ltd., Novartis AG, Bristol-Myers Squibb, Boehringer Ingelheim GmbH, GlaxoSmithKline PLC, GILEAD Science Inc.,

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Small Molecule API Market by Category Molecule Type

Standard API
HPAPI

Production

Captive/In-House
Out Source

Application

Clinical
Commercial

Therapeutic Area

Cardiovascular Diseases
Respiratory Disorders
Infectious Diseases
Metabolic Disorders
Oncology
Immunology
Neurology
Urology
Dermatology
Ophthalmology
General Health
Others

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Coronary Stents Market Is Anticipated to Reach USD 51.2 Billion by 2032, Growing at a 5.1% CAGR | FMI Research

The fight against heart disease is gaining momentum with advancements in coronary stents. The global Coronary Stents Market is projected to reach a substantial USD 51.2 billion by 2032, reflecting a steady growth trajectory. This translates to a projected Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2032. In 2022, the market was valued at an estimated USD 33.36 billion.

The increasing awareness of the manifold benefits associated with stenting procedures, such as the significant enhancement of blood flow and protection against further damage to the heart muscle, is a pivotal driver of market expansion. Stenting also offers a means to ameliorate heart disease symptoms, including angina and shortness of breath, ultimately reducing the necessity for coronary bypass surgery. Consequently, both surgeons and patients, given its minimally invasive nature and relatively brief post-operative recovery period, favor stenting.

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Furthermore, a rise in the global geriatric population is leading to a larger patient pool with serious cardiovascular diseases. Again, hypertension is arising as a grave public health concern. Obesity, too, adds to this burden as one of the primary risk factors accountable for different cardiovascular diseases worldwide.

Coronary stenting is prescribed to patients who are suffering from coronary artery blockage. Though angioplasty is the first line of treatment for patients with acute coronary artery blockages the number of patients undergoing stenting has been increasing steadily over the last ten years. This is owing to the rise of outpatient coronary stenting procedures, which shortens long hospital stays. Additionally, a large number of cardiologists prescribing stenting procedures for patients with CAD is a prime factor that will likely fuel revenue growth of the coronary stent market during the forecast period.

“Increasing cases of lifestyle diseases like obesity and diabetes often result in heart issues which, in turn, supplements the global growth of the coronary stents market over the forecast period,” says an FMI analyst.

Coronary Stents Market Key Takeaways:

Rising awareness of the benefits associated with stenting will strengthen market prospects.
Prevalence of alternative treatment methods, product failure, and recalls are certain factors that may hamper market growth.
Growing cases of coronary artery diseases propel the coronary stent market in the United States.
Favorable government support for the healthcare sector will present new market opportunities in China.

Coronary Stents Market Competitive Landscape

Abbott, Medtronic, Boston Scientific Corporation, Terumo Corporation, B Braun Melsungen AG, Biotronik, Stentys SA, MicroPort Scientific Corporation, C. R. Bard, Inc., and Cook Medica among others are some of the major players in the coronary stents market profiled in the full version of the report.

Key market players are focusing on product upgrades and offering new features to meet the rising consumer demand. These organizations are employing strategies like new product releases, partnerships, collaborations, mergers, and acquisitions to gain a competitive advantage.

More Insights into Coronary Stents Market Report

In its latest report, FMI offers an unbiased analysis of the global coronary stents market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type (drug-eluting stent (DES), bare metal stent (BMS), bioresorbable vascular stent (BVS)), raw material (cobalt chromium, stainless steel, platinum-chromium, nickel-titanium, polymer), end user (hospitals, ambulatory surgical centers, cardiac catheterization laboratories), and region.

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According to the latest FMI reports, based on region, China’s coronary stent market will likely exhibit an impressive growth rate during the observation period due to favorable government support for the healthcare sector. The coronary stent market in the United States is anticipated to demonstrate substantial growth over the forecast period. The rising prevalence of coronary artery disease is spurring the demand for interventional cardiology treatment in this country. Sedentary lifestyles, smoking, poor dietary habits, and pollution often contribute to increasing cases of cardiovascular diseases. All of these factors are expected to drive the demand for the target market during 2022-2032.

Key Segments Covered in the Coronary Stents Market Analysis

By Product:

Drug Eluting Stent (DES)
Bare Metal Stent (BMS)
Bioresorbable Vascular Stent (BVS)

By Raw Material:

Cobalt-Chromium
Stainless Steel
Platinum – Chromium
Nickel – Titanium
Polymer

By End User:

Hospitals
Ambulatory Surgical Centers
Cardiac Catheterization Laboratories

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.

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Regenerative Medicine Market Is Expected to Expand, with a CAGR of 18.5% From 2023 to 2033 | FMI

The field of Regenerative Medicine Market, offering the potential to heal and repair damaged tissues and organs, is experiencing remarkable growth. According to a new report by Future Market Insights (FMI), the global Regenerative Medicine Industry is estimated to be valued at USD 13.4 billion in 2023. This market is poised for significant expansion, reaching a projected value of USD 73.1 billion by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 18.5%.

Regenerative medicine is a rapidly growing field of medicine that uses stem cells and other biological materials to repair or replace damaged or diseased tissues and organs. Regenerative medicine therapies have the potential to treat a wide range of conditions, including cancer, cardiovascular disease, neurological disorders, and musculoskeletal disorders.

The growth of the regenerative medicine industry is being driven by several factors, including the rising prevalence of chronic diseases, the increasing demand for minimally invasive treatments, and the growing body of scientific evidence supporting the effectiveness of regenerative medicine therapies.

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Regenerative Medicine Market Key Takeaways:

An opportunistic outlook is presented by the regenerative medicine market in the future owing to the beneficial outcomes of regenerative medicine. Several biopharmaceutical companies have initiated the establishment of regenerative medicine-specific regulatory processes which consist of guidelines, a quicker approval pathway, and also quality control for conducting clinical trials. Therefore, a massive boom in the regenerative medicine market is witnessed over the projection years.
The industry is keeping into account some of the prominent factors such as reduced manufacturing cost, improvement in distribution systems, and expansion. Technological advances taking place in the field of life sciences date back several years ago. The gene editing technology applied in regenerative medicine manufacturing assists in yielding quality results and avoids challenges such as immune rejection.
In order to treat a wide spectrum of diseases, pluripotent stem cell (PSC)-derived therapies are beneficial and surging rapidly over the years. These factors are acting as driving factors for the regenerative medicine market over the assessment years.
The research and development sector is drastically making efforts to develop an innovative therapy type through modifications and implementing new discoveries in the field of cell therapy and applying gene editing tools that help in making the overall process of discovery easier. Since the methodology used is unique and determines steps for instance use of universal donor cells which establishes successful engraftment in autologous transplantation. The aforementioned factors are responsible for growth in the market.
The growing prevalence of chronic diseases paired with the surge in wounds and injuries among the ever-growing population is anticipated to surge the regenerative medicine market. The approval of these products is governed by various regulatory laws, including pharmaceutical affairs law, technical guidance for the quality of regenerative medicine products, regulation (EC) 1394/2007, and others because these therapy types have a substantial impact on health.

The regeneration medicine market has a direct link with the prevalence of diseases in the increasing population. Since these stem cell-based therapies have a vital impact on health thereby, the approval of these therapies including the use of regenerative medicine is governed by several standard organizations such as the Food and Drug Administration (FDA), and European Medicines Agency (EMA), among others.

Regenerative Medicine Market Competitive Landscape:

Various key players in the regeneration medicine market are focusing on expanding their consumer base in order to meet consumer demands. Since the overall market is fragmented, prominent companies in the market are implementing methods such as divestiture, partnerships and collaborations, and new therapy launches.

More Insights into the Regenerative Medicine Market:

The U.S. is expected to dominate the global regenerative medicine market as it is accounting for a total of about 24.2% in 2021 and is anticipated to experience similar growth throughout the forecast period.

The account of aging population, the widespread adoption rate of regenerative medicines, and the importance of chronic diseases are contributing factors boosting the regenerative medicine market.

Australia held a market share of around 12.9% in the global regenerative medicine market in 2021. Having a robust regulatory framework, the presence of such facilities has encouraged several ventures to invest in and look for new opportunities in Australia.

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Key Companies Profiled:

3M
Allergan plc
Amgen, Inc.
Aspect Biosystems
bluebird bio
Kite Pharma
Integra LifeSciences Holdings Corporation
MEDIPOST Co., Ltd.
Anterogen Co., Ltd.

Key Market Segments Covered In Regenerative Medicine Market Research:

By Therapy type:

Cell Therapy
- Autologous Cell Therapy
- Allogenic Cell Therapy
Stem Cell Therapy
- Allogeneic Stem Cell Therapy
- Autologous Stem Cell Therapy
Tissue-engineering
Gene Therapy

By Application:

Wound Care
Musculoskeletal
Oncology
Dental
DMD (Duchenne Muscular Dystrophy)
Hepatological Diseases
Inflammatory & Autoimmune Diseases
Other Therapeutic Applications

About Future Market Insights (FMI)

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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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