Market Research Blog – Page 1834 – New Product Development

Managed File Transfer (MFT) Market Poised to Reach USD 5.3 Billion by 2033 at a 10.1% of CAGR

The global managed file transfer (MFT) market is set for substantial growth, with estimates indicating an increase from USD 2 billion in 2023 to USD 5.3 billion by 2033. This forecast represents a robust compound annual growth rate (CAGR) of 10.1% during the forecast period, driven by escalating demand for secure and efficient data transfer solutions amidst increasing cloud adoption worldwide.

Managed file transfer solutions play a critical role in securely transferring and sharing diverse types of data across organizations, ensuring compliance, data integrity, and operational efficiency. These solutions facilitate seamless data exchange while mitigating risks associated with traditional file transfer methods.

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Consistent progress in the creation and deployment of new technologies including managed file transfer as-a-service (MFTaaS) solutions and cloud computing systems for autonomous encryption of information prior to its transfer, promising safety, centralization, and flexibility, among others, is generating opportunities for managed file transfer solution spending advancement.

The primary factors promoting a growing proportion of managed file transfer companies providing novel solutions for business continuity are benefits such as higher company productivity, robust information movement, and reduced expenses. The incorporation of various technologies including IoT, Big Data, Artificial Intelligence, and others is anticipated to contribute to the expansion of the managed file transfer marketplace with substantially improved capacities and effectiveness.

Key Takeaways:

The managed file transfer market is expected to grow at an 8% CAGR from 2018 to 2022
In 2022, the United States accounted for roughly 26.5% of the global managed file transfer (MFT) market.
The German market is expected to grow at a CAGR of 6.7% over the forecast time frame.
The MFT market in China is expected to grow at a CAGR of 11.7% during the forecast period.
By the end of 2022, the managed file transfer software segment took over the market in terms of value, capturing nearly 75.9% of the total market value share.

“The integration of technologies such as IoT, Big Data, AI, and others is expected to contribute to the growth of the managed file transfer marketplace with significantly greater capabilities and efficiency,” Says a FMI analyst.

Competitive Landscape:

The major players in the managed file transfer solution sector employ new product introduction as a key tactic. They aim to boost their business revenue by doing so. To expand their market share, managed file transfer solution suppliers are focusing on product/service innovation.

To satisfy developing safety of data demands, Software AG, for instance, introduced Adabas Auditing for z/OS in 2021. The latest release extends monitoring features that previously only focused on modifications to data to take in any data access, such as determining who read what data and when. It was created in partnership with Beta Systems.
In February 2021, Oracle Corporation introduced an additional benefit to its managed file transfer cloud service, OCI Storage Cloud Service, an exclusive source and target category that can be employed for transferring data across the Oracle Cloud Infrastructure.
In June 2022, Coviant Software, the supplier of secure managed file transfer (MFT) technology, has unveiled Diplomat MFT v9.1, a version upgrade featuring file synchronization, replicating information, and support for several concurrent transmissions of files.

Key Companies Profiled in MFT Market are Axway Inc., GlobalSCAPE Inc., IBM Corporation, Micro Focus, Software AG, Oracle Corporation, Wipro Limited, Signiant Inc., OpenText Corporation, CA Technologies Inc. and others.

By Solution:

Software

System-centric File Transfer
People-centric File Transfer
Extreme File Transfer

Services

Implementation & Integration
Consulting
Support & Maintenance

By Industry:

BFSI
Media & Entertainment
Retail
Manufacturing
Telecommunication
Others

By Region:

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

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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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Christiana Corporate, 200 Continental Drive,
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Website: https://www.futuremarketinsights.com
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Advanced Empty Capsule Market Poised for Growth: USD 1,856.1 Million by 2023, Surging 7.4% Annually | FMI

The Advanced Empty Capsule Market is experiencing robust growth, driven by the pharmaceutical industry’s focus on efficient and reliable drug delivery systems. With a current valuation of USD 905.6 million in 2023, the market is projected to reach new heights, expanding at a Compound Annual Growth Rate (CAGR) of 7.4% through 2033. This growth builds on a strong foundation, with the market already expanding at a CAGR of 7.3% between 2018 and 2022.

The projected growth of the Global Advanced Empty Capsule Industry is initially driven by the surging prevalence of chronic illnesses and an aging population. Moreover, the global market participants are likely to benefit from increased research and development efforts in the healthcare industry to enhance treatments.

Accelerated technological development and rising demand for in-home care surge the demand for advanced empty capsules. Market revenue streams are likely to reach new heights when paired with other variables, like customized offerings.

Market growth comes with several challenges; for instance, the global market is anticipated to be restrained by the restricted supply of raw materials needed to produce empty capsules.

During the projected period, the social stigma associated with raw materials originating from animals is also anticipated to impact sales of advanced empty capsules.

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Advanced Empty Capsule Market Key Takeaways

By 2033, the advanced empty capsule market in the United Kingdom is likely to expand, with a CAGR of 5.1%.
By 2033, the advanced empty capsule market in Russia is likely to expand, with a CAGR of 7.3%
The advanced empty capsule was significantly expanding, with a size of US$ 844.2 million in 2022.
In 2022, Europe expanded in the global advanced empty capsule business with a share of 67.5%.
In 2022, Germany expanded significantly in the advanced empty capsule business, with an expected share of 21%.
By 2033, India is projected to expand significantly in the advanced empty capsule, with a share of 7.9%.
In 2023, Australia is likely to develop significantly in the advanced empty capsule sector, with an expected share of 11.9%.
In 2022, the oral capsules segment expanded in the market with a significant share of 89.43% and is expected to hold a top spot in the market regarding product type.
Based on the raw material, the animal source segment dominated the industry in 2022, with a share of 66.58%.

Competitors Winning Strategies

Regional & local businesses and advanced empty capsule start-ups are fiercely vying for market share and promoting innovation for sophisticated empty capsules. Constant quality control, product improvement, new launches, and strategic alliances are vital tactics these businesses use to keep themselves competitive. This is done to meet the rising demand for high-tech empty capsules worldwide.

Recent Developments in the Advanced Empty Capsule Market:

In May 2022, Capsugel introduced a white firm gelatin capsule devoid of titanium dioxide (TiO2-free), which satisfies the need for such meals in the European Union.
The Sheung brand created EmboCaps® on June 21, 2019. A rigid capsule called the Embocaps®LP+ was designed primarily to store liquids and fine particles. Several gelatin, vegetarian, and delayed-release versions of the Embocaps® LP+ are available.

Key Players from the Advanced Empty Capsule Market:

Capsugel (Lonza)
ACG Worldwide
Medi-Caps Limited
Sunil Healthcare Limited
Roxlor LLC
CapsCanada Corporation
Suheung Co., Ltd.
Bright Pharma Caps
STERIS Plc
Fuji Capsule Co. Ltd.
QUALICAPS

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Advanced Empty Capsule Market Key Segments

By Product Type:

Oral Capsules
- Dry formulation
  - Immediate-release capsules
  - Delayed-release capsules
  - Time delayed release capsules
  - Acid-resistant capsules
  - Enteric capsules
- Liquid formulation
Inhalation Capsules

By Raw Material:

Animal Source
- Contract Type-A (Pork Skin
- Type-B Gelatin (Animal Bones & Calf Skin)
- Fish Bone Gelatin
Vegetarian-based
- HydroxyPropyl Methyl Cellulose (HPMC)
- Starch
- Pullulan

By Capsules Size:

Size “000” Capsules
Size “00” Capsules
Size “0” Capsules
Size “1” Capsules
Size “2” Capsules
Size “3” Capsules
Size “4” Capsules
Size “5” Capsules

By End User:

Pharmaceutical
Nutraceutical & Cosmetic
CROs
CMOs

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
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.

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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Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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VCI Shrink Film Market is Projected to Grow at a CAGR of 4.50%. by 2034 | FMI

The VCI shrink film market is expected to be valued at US$ 99.5 million in 2024. The market’s progress is projected to invigorate moderately from 2024 to 2034, with a CAGR of 4.50%. By 2034, the market value is forecasted to reach US$ 154.6 million.

The escalating need to prevent corrosion of metal products is apparent in different industries, where the use of metal parts and components is prevalent. These products are highly susceptible to corrosion, which can cause significant damage, leading to product failure, downtime, and financial losses. VCI shrink films are designed to protect these metal products by releasing a vapor that forms a protective layer on the metal surface, thus preventing corrosion.

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Their versatility and ease of use make VCI shrink films stand out. These films can be customized to fit the specific requirements of a product, making them ideal for a wide range of applications. They are also easy to apply, requiring no special equipment or training, which makes them a cost-effective and efficient solution for businesses.

The use of VCI shrink films is prevalent in various industries, including automotive, aerospace, electronics, and military. In the automotive industry, VCI shrink films are used to protect engines, brake components, and other metal parts during storage and transportation. In the aerospace industry, these films are used to protect aircraft parts and components during shipping and storage. In the electronics industry, VCI shrink films are used to protect sensitive electronic components from corrosion during storage and transportation.

The unique benefits that VCI shrink films offer, such as durability, flexibility, and transparency, make them an attractive option for businesses. These films are resistant to punctures, tears, and abrasions, which ensures that the products remain protected during handling and transportation. Additionally, VCI shrink films are flexible and can conform to the shape of the product, providing complete coverage and protection. They are also transparent, which allows for easy product identification and inspection.

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“The growing environmental concerns and regulations are driving the demand for eco-friendly solutions. VCI shrink films, being recyclable and eco-friendly, emerge as a sustainable option for businesses. This aligns well with the increasing trend toward sustainable packaging solutions, which is gaining momentum across various industries.” – Says an analyst at FMI.

Key Takeaways from the VCI Shrink Film Market

The VCI shrink film market is estimated to register a CAGR of 4.50%, reaching a valuation of US$ 154.6 million by 2034.
The primary metal segment is anticipated to dominate the market by end use, holding a 29.7% market share in 2024.
The market in South Korea is predicted to grow at a CAGR of 3.8% through 2034.
The market in Japan is estimated to grow at a CAGR of 2.6% over the forecast period.
The market is estimated to grow at a CAGR of 2.4% in Germany over the forecast period.
China’s market is predicted to grow at a 5.9% CAGR between 2024 and 2034.
The market in the United States is expected to grow at a CAGR of 2.9% over the projected period.

Competitive Landscape

The VCI shrink films market is characterized by intense competition, owing to the presence of a large number of players in the industry. In order to enhance their market share and revenue, prominent companies adopt various strategies such as introducing new products, investing in research and development, expanding their facilities, and engaging in partnerships, acquisitions, mergers, and collaborations.

Recent Development

In 2022, Cortec®, a renowned producer of eco-friendly packaging solutions, unveiled its latest VCI film and bag formula that boasts an impressive 30% post-consumer recycled material. The product is notable for its ability to offer effective corrosion protection to metal components while promoting sustainability through waste reduction. Despite utilizing recycled content, the VCI film and bag formula maintains the same high level of quality and performance as its non-recycled counterparts.

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Urinary Bag Market is anticipated to reach USD 2.9 Billion by 2033 at a 4.4% CAGR | FMI Study Report

The Urinary Bag Market is experiencing a period of robust growth, driven by increasing healthcare needs and technological advancements. According to recent projections, the market is set to reach a value of USD 2.9 billion by 2033, marking a substantial increase from the current valuation. This impressive growth reflects a Compound Annual Growth Rate (CAGR) of 4.4% throughout the forecast period.

The Urinary Bag industry has witnessed significant growth and technological advancements in recent years. Urinary Bags play a crucial role in managing urinary incontinence and providing an efficient and hygienic collection of urine.

With the increasing prevalence of chronic diseases and the aging population, the demand for Urinary Bags has surged, leading to a competitive market landscape with continuous innovations.

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The emergence of smart and digital solutions has transformed the market. Innovative technologies such as wireless monitoring systems, smart sensors, and mobile applications have been integrated into Urinary Bags. Further, these technologies enable real-time monitoring of urine volume, temperature, and flow rates.

Digital solutions not only enhance patient monitoring but also facilitate remote patient management, reducing the need for frequent hospital visits and improving the efficiency of healthcare delivery.

Access to Urinary Bags can be a challenge, particularly in low-resource settings and developing countries. The availability and affordability of high-quality Urinary Bags may be limited. It may lead to inadequate management of urinary incontinence for patients who cannot afford or access appropriate products. Addressing this challenge requires a focus on affordability, distribution networks, and increasing awareness about the importance of proper urinary care.

Top Highlights from FMI’s Analysis:

In 2022, North America held a value share of 34.5% in the Urinary Bag industry.
The market in Europe accounted for a value share of 28.6% in 2022 on a global level.
By product type, drainage bags held a substantial value share of 52.24% in 2022.
The market value for Urinary Bags reached US$ 1821.0 billion in 2022, with a CAGR of 4.1% from 2018 to 2022.
Based on end-use, the hospitals sub-segment was predicted to account for a 40.2% share in 2022.
The market for Urinary Bags in India is likely to secure a 6.9% CAGR from 2023 to 2033.

How Fierce Is the Competition in the Urinary Bag Market?

The market consists of both established players with a strong market presence and new entrants striving to gain a foothold. Established companies have a competitive advantage due to their brand reputation, extensive distribution networks, and customer loyalty. Moreover, they often have the resources to invest in research and development, marketing, and strategic partnerships.

Companies in the Urinary Bag market engage in strategic partnerships, collaborations, and acquisitions to strengthen their market position and expand their capabilities. These alliances help in leveraging complementary strengths, accessing new markets, and sharing resources, leading to increased competitiveness in the market.

Ongoing investment in research and development allows companies to develop innovative products, improve existing offerings, and stay ahead of competitors. Companies that invest in research and continuously bring new and improved products to the market have a competitive edge.

Expanding into new geographic regions or targeting niche segments provides opportunities for growth and increased competitiveness. Companies that successfully enter new markets or address specific customer needs, gain an advantage over competitors.

Compliance with regulatory standards and certifications is crucial in the medical device industry, including the market. Manufacturers that meet or exceed regulatory requirements demonstrate their commitment to quality and patient safety, enhancing their competitive position.

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Urinary Bag Market Major Players:

Medline Industries, Inc.
Cardinal Health, Inc.
Hollister Incorporated
Teleflex Incorporated
Cook Medical
Moore Medical LLC
Mckesson Medical-Surgical Inc.
Arcus Medical LLc
Urocare
Covidien
Coloplast A/S
Others

Urinary Bag Market Key Segmentation are:

By Product Type:

Drainage Bags
Leg Bags
Large Capacity Bags
Belly Bags

By Capacity:

Less than 500 ml
500 ml
1000 ml
2000 ml
4000 ml

By Usage:

Reusable Urinary Bags
Disposable Urinary Bags

By Patient Age:

Pediatric
Adult

By End User:

Hospitals
Clinics
Ambulatory Surgical Centers
Long-Term Care Centers
Home Care

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Forecasted Growth: Breathable Tape Market Size Expected at US$ 8 Billion by 2032

The global breathable tape market is on track to achieve a substantial size, with a projected valuation of US$ 8 Billion by the year 2032. This growth trajectory is underpinned by the rising clinical awareness and a surge in the prevalence of injuries, which are expected to drive robust demand for breathable tape in the coming years.

According to insights from FMI (Futuristic Market Insights), the global breathable tape market was valued at US$ 5.7 billion in 2022. Projections indicate that it will continue to expand at a compound annual growth rate (CAGR) of 4.3% throughout the forecast period spanning from 2022 to 2032.

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Market Drivers

Growing Healthcare Industry:
- The healthcare industry’s expansion, including wound care and surgical applications, is a major driver for breathable tape. As healthcare facilities adopt advanced products for patient care, the demand for breathable tapes in wound dressings and medical applications increases.
Increasing Emphasis on Wound Care:
- The rising awareness of proper wound care and the importance of creating optimal healing environments contribute to the demand for breathable tapes. These tapes provide a balance between protection and breathability, supporting better wound recovery.
Rise in Surgical Procedures:
- With an increase in surgical procedures globally, there is a growing demand for breathable tapes used in surgical drapes, incision site dressings, and other medical applications. The tapes play a crucial role in maintaining sterile conditions while allowing moisture vapor to escape.
Sports and Athletic Industry Growth:
- The sports and athletic industry’s expansion, coupled with the emphasis on injury prevention and recovery, drives the demand for breathable tapes for athletic taping and compression applications. Athletes and sports medicine professionals seek products that provide support without compromising breathability.

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Competitive Outlook

Some of the leading key players in the breathable tape market are 3M Company, Smith & Nephew Inc, Medline Industries Inc, Hartmann Inc, Dynarex Corp, Cardinal Health Inc, Nitto Medical Corp, Godson Tapes Pvt., Johnson & Johnson Consumer Inc, and Beiersdorf Inc, contributing to the substantial breathable tape market share.

With some mergers and acquisitions, breathable tape manufacturers are focusing on expanding their global footprint and improving the quality of their tapes. The new and revolutionary product is intended to improve convenience in the healthcare industry, propelling the sales of breathable tape .
The 3M Company finalized its acquisition in 2019. Acelity Inc. is a medical technology firm that specializes in improved wound care and specialty surgical procedures. The acquisition will help 3M Company’s Medical Solutions division grow.

Key Segments

By Material Type:

Paper
Polyethylene (PE)
Non-woven Fabric
Others

By Product Type:

Medical Adhesive Tape
Cloth Adhesive Tape
Pressure sensitive adhesive tape
Waterproof tape
Micro pore tape

By End user:

Hospital
Clinic
Home care
Others

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Global Traffic Control Device Tape Market to Reach US$ 9.6 Billion by 2032: Growth Forecast

The global traffic control device tape market size is anticipated to be valued at US$ 9.6 Billion in 2032 and exhibit immense growth at a CAGR of 5.2% in the forecast period from 2022 to 2032.

The traffic control device tape market is gaining significant traction, driven by increasing road safety awareness and stringent government regulations. These tapes, essential for marking lanes, crosswalks, and other vital areas on roadways, play a crucial role in ensuring driver and pedestrian safety. With the rise in infrastructure development and road maintenance projects worldwide, the demand for high-quality traffic control device tapes is on the upswing.

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Trends Driving the Traffic Control Device Tape Market

Several key trends are shaping the traffic control device tape market:

Innovation in Materials: Manufacturers are investing in the development of durable and reflective materials that enhance visibility in various weather conditions. These advanced tapes offer better adhesion and longevity, reducing the need for frequent replacements.
Sustainability Initiatives: There is a growing emphasis on eco-friendly products. Companies are increasingly focusing on producing tapes that are recyclable or made from sustainable materials, aligning with global environmental goals.
Technological Advancements: The integration of smart technology into traffic control tapes is a noteworthy trend. Tapes embedded with sensors and IoT capabilities can provide real-time data on traffic flow and conditions, aiding in better traffic management.
Customization and Versatility: Customizable traffic control tapes that cater to specific road safety requirements are becoming popular. These tapes can be tailored in terms of color, width, and reflectivity to meet diverse regulatory standards and application needs.

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Future Outlook

The future of the traffic control device tape market looks promising, with several factors contributing to its growth:

Infrastructure Development: The ongoing expansion and upgrading of road networks in emerging economies will drive the demand for traffic control tapes. Government initiatives focused on improving road safety and infrastructure are expected to boost market growth.
Urbanization and Smart Cities: The rise of smart cities is likely to create opportunities for innovative traffic control solutions. Smart tapes equipped with digital features will become integral to modern traffic management systems.
Regulatory Compliance: Stringent road safety regulations across various regions will continue to fuel the demand for high-quality traffic control tapes. Compliance with these regulations ensures safer roads and reduces accidents, fostering market growth.

Conclusion

The traffic control device tape market is set for robust growth, driven by advancements in materials, sustainability efforts, and technological innovations. As global road infrastructure continues to expand and smart city initiatives take off, the demand for effective and reliable traffic control solutions will only increase. Manufacturers and stakeholders in the market must stay abreast of these trends and invest in innovative products to meet the evolving needs of road safety.

In conclusion, the traffic control device tape market presents ample opportunities for growth and innovation. By focusing on quality, sustainability, and technology, companies can play a pivotal role in enhancing road safety and meeting the demands of modern infrastructure development.

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Ophthalmic Eye Drops Market is expected to grow and reach a value of USD 25.9 Billion by 2034, surge at 4.7% CAGR | FMI

The demand for optimal eye health is driving a surge in the Ophthalmic Eye Drops Market. A recent analysis projects this market to reach a staggering USD 25.8 billion by 2034, fueled by a steady Compound Annual Growth Rate (CAGR) of 4.7%. This growth builds on a strong 2024 performance, with the market valued at USD 17.3 billion and experiencing a healthy 5.4% year-over-year growth.

The soaring cases of eye infections have been driving ophthalmic eye drop sales. While the report presents a positive outlook for growth, ongoing restrictions amid the COVID-19 outbreak might hamper sales.

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New eye drop product launches, branded as well as generic, are expected to be hampered in the short term due to disruptions in the supply chain, delayed pipeline research and development, and a shift in the priority of leading healthcare companies to COVID-19 vaccine and treatment developments.

According to the report, institutional sales of ophthalmic eye drops will rise considerably in the coming years. It will account for over half of ophthalmic eye drops sold through the forecast period.

“Increasing prevalence of eye infections, technological advancements, and high risk of infections from the increasing use of contact lens is expected to boost the growth of the ophthalmic eye drops market.” says the FMI Analyst

Key Takeaways from Ophthalmic Eye Drops Market Study

Ophthalmic eye drops market will expand consistently to surpass a valuation of US$ 15 Bn by 2021
The U.S. holds over 92.1% share of the North American market, but Canada is projected to expand faster at around 4.0% CAGR
Rising cases of eye infection will drive sales in the U.K., enabling it to register 3.9% y-o-y growth in 2021
Rising willingness to spend on advanced eye care will drive sales in Germany and France
Expansion of the healthcare sector will emerge as the chief growth driver in China and Japan. Both countries will exhibit a high demand for dilation drops

Due to their increasingly active lifestyle and desire for better aesthetics, many people are shifting to contact lenses. However, many ocular infections are associated with the use of contact lenses. Each year in the United States, approximately 1 million eye infections occur related primarily to keratitis, a fungal infection of the cornea, and contact lens infections account for estimated direct costs of $175 million. In addition, 40.9 million U.S. adults wear contact lenses, and 99% of 4,269 contact lens wearers were reported at least one contact lens–related hygiene behavior associated with an increased risk for eye infection or inflammation. Nearly a million eye infections requiring a trip to the doctor happen each year, many of them related to contact lens use.

Who is Winning?

The top players are focusing on increasing acquisitions at the regional level. Acquisitions empower the company with products and increase the company’s portfolio. The company acquires other players to possess well-established products and solutions that are expected to become a good revenue source for the acquirer. Acquisitions also enable the company to enter new emerging markets as well as enhance its presence in existing markets. Furthermore, key market players such as Novartis and Gerresheimer AG are focusing on the expansion of their market reach in different regions. For example-

In November 2020, Gerresheimer Regensburg announced that it is expanding its production area in Germany. The company has planned the expansion of its production capacity in small batch production, as a result of increasing development projects for pharmaceutical and medical technology products.
In November 2019, Sandoz announced that it has entered into a binding agreement for the planned acquisition of the Japanese business of Aspen Global Incorporated (AGI), a wholly owned subsidiary of Aspen Pharmacare Holdings Limited, strengthening its position in the world’s third-largest generics market.

Some of the key market players covered by FMI include Novartis AG, Bausch & Lomb, Akorn, Inc., Biomedica, AdvaCare Pharma, C2 PHARMA, Kraeber GmbH, Iskon Remedies, HANSHIN GROUP, Berry Global Inc., Nolato AB, Bormioli Pharma, WG Pro-Manufacturing Inc., Gerresheimer AG, Adelphi Healthcare Packaging, Aptar Group Inc., and Amcor Plc.

Ophthalmic Eye Drops Market by Category Drug Class

Anesthetic Drops
Dilation Drops
Glaucoma Drops
Steroid Drops
Antibiotic Drops
Others (Antihistamines, Lubricants Tear Drops)

Indication

Dry Eye
Eye Allergy
Glaucoma
Eye Infection
Retinal Disorders
- Macular Degeneration
- Diabetic Retinopathy
- Others
Uveitis
Others

Drug Formulation

With Preservative
Preservative Free

Container Type

Single Dose Container
Multiple-Dose Container

Distribution Channel

Institutional Sales
- Hospitals
- Community Clinics
- Ophthalmic Clinics
- Public Health Agencies
- Veterinary Hospitals & Clinics
Retail Sales
- Retail Pharmacies
- Drug Stores

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10-years.

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Firefighter Tape Market is Anticipated to be Valued at US$ 7.2 Billion by 2032

The global firefighter tape market size is expected to reach US$ 4.8 Billion in 2022. Increasing number of fire breakout incidents across the globe is set to boost the firefighter tape market in future years. As per FMI, sales of firefighter tapes are anticipated to be valued at US$ 7.2 Billion in 2032 and exhibit growth at a CAGR of 2.9% in the forecast period from 2022 to 2032.

Firefighters are the unsung heroes who bravely battle flames to protect lives and property. In their arsenal of tools, firefighter tape plays a crucial role in marking hazards, securing areas, and guiding rescue operations. As the demand for advanced firefighting equipment continues to surge, the firefighter tape market is witnessing significant growth. This blog delves into the trends shaping this market, its future outlook, and the importance of firefighter tape in ensuring the safety of firefighters and civilians alike.

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Trends:

The firefighter tape market is experiencing a notable shift towards innovative, high-quality products that enhance safety and efficiency. Key trends driving this market include:

Advanced Materials: Manufacturers are investing in research and development to create firefighter tapes with superior durability, heat resistance, and visibility. These tapes are designed to withstand extreme conditions, ensuring reliable performance during firefighting operations.
Customization Options: With the rise of customization in firefighting equipment, firefighter tape suppliers are offering a wide range of colors, sizes, and messaging options. This allows firefighters to tailor tape usage to specific hazards, improving communication and safety on the scene.
Integration of Technology: The integration of technology, such as reflective materials and glow-in-the-dark features, is becoming increasingly prevalent in firefighter tape. These enhancements enhance visibility in low-light conditions, enabling firefighters to navigate hazardous environments more effectively.
Environmental Sustainability: As sustainability gains momentum across industries, there is growing demand for eco-friendly firefighter tape made from biodegradable materials. Manufacturers are responding to this trend by developing sustainable alternatives that minimize environmental impact without compromising performance.

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Future Outlook:

The future of the firefighter tape market looks promising, with continued growth driven by several factors:

Increasing Fire Incidences: With the rise in urbanization and industrialization, the frequency and intensity of fire incidents are expected to increase. This will drive the demand for firefighter tape as an essential tool for firefighting and emergency response.
Stringent Safety Regulations: Governments and regulatory bodies are imposing stricter safety standards to protect firefighters and civilians. Compliance with these regulations will necessitate the use of high-quality firefighter tape that meets stringent performance criteria.
Technological Advancements: Ongoing advancements in materials science and manufacturing technologies will lead to the development of firefighter tapes with enhanced features and capabilities. These innovations will further improve safety and operational efficiency in firefighting operations.

Conclusion:

In conclusion, the firefighter tape market is evolving to meet the evolving needs of modern firefighting. With a focus on innovation, customization, and sustainability, the market is poised for sustained growth in the coming years. As firefighters continue to risk their lives to protect communities, firefighter tape will remain a vital tool in their arsenal, ensuring safer and more effective firefighting operations.

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Sterilants Market is expected to be valued at a robust USD 4244.1 Million by 2033, With a 6% CAGR | FMI Insight

The demand for effective sterilization solutions is driving significant growth in the Sterilants Market. According to recent projections, the market is set to expand at a Compound Annual Growth Rate (CAGR) of 6% from 2023 to 2033, reaching a substantial USD 4.2 billion by 2033. This marks a significant increase from the current market valuation of USD 2.36 billion in 2023.

The forecasted market growth is attributed to a confluence of factors, including increased awareness of sterilization practices across various industries, rising demand for healthcare services, and advancements in sterilization technologies. The 6% CAGR showcases a resilient and upward trajectory, highlighting the market’s ability to capitalize on evolving trends and technological advancements.

Industries and healthcare facilities must follow the sterilization process. In the Global Sterilants Industry, effective and compatible sterilants or sporicidal agents have been demanded due to the increasing incidence of infection transmission through surgical instruments or contaminated surfaces in contact with human skin and tissues.

A major driver of the sterilant market is the growing demand for processed food that uses sterilants to preserve food and protect it from microorganisms. As medical equipment must be sterilized with sterilants such as peracetic acid, the growing healthcare industry also contributes to the growth of the global sterilant market.

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Due to the increasing use of sterilants in agriculture to protect crops, the global sterilant market is expected to grow in the coming years. Furthermore, sterilants such as peracetic acid are environmentally friendly, making them preferred for sterilizing medical equipment; in addition, they leave no toxic residues after application, making them an opportunity for the future.

“The growing demand for sterilized environments (in terms of sterilized surgical instruments and equipment) and surging demand for compatible sterilants have driven opportunities for manufacturers. Strategic acquisitions and collaborations by the manufacturers are leading to high growth of the Global Sterilants Industry in the coming years.” – says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Key Takeaways from Global Sterilants Industry Study

The sterilants market is expected to grow at a CAGR of 6% over the forecast period.
It is estimated that the sterilants market in North America will remain strong during the forecast period.
The hospital segment accounted for the highest share of the sterilants market with a CAGR of 4.5%.
Ethylene oxide has the highest revenue share of US$ 605.31 million in 2023 and is expected to rise to an annual revenue of US$ 995.42 million by 2033 with a 5.1% CAGR between 2023 and 2033.
It is expected that the market in the United States will demonstrate a high level of growth by the year 2033.

Sterilants Market Competitive Landscape:

There is a high level of competition in the market as many leading players focus on various market consolidation activities, such as mergers, acquisitions, supply distribution partnerships, and product launches. Manufacturers need to expand their market footprint and provide solutions to their end users. Nowadays, many leading manufacturers offer customized solutions to meet the needs of a variety of end users.

Several prominent companies dominate the Sterilants Market, including:

3M Company
Steris Plc.
Cantel Medical Corporation
Evonik Industries AG
Arkema S.A.
Thor Group
Metrex Research, LLC
Ecolab Inc.
Solvay SA
LANXESS
Contec, Inc.
OZU Corporation
Cetylite, Inc.
Veltek Associates, Inc.
Whiteley Corporation
Gul Biyoloji Laboratuvari

Sterilants Market Recent Developments:

Astell Scientific launched the latest AstellBio Sink line of Effluent Decontamination Systems (EDS) capable of sterilizing polluted wastewater automatically before releasing it into the sewer system in October 2021. The AstellBio Sink prevents the spread of harmful organisms by deactivating biological agents up to and including level 3.
Earlier this year, Sodexo announced its partnership with Ecolab Inc. to offer the latest infection prevention products and services to healthcare facilities and hospitals across the country. Protecta Plus, Sodexo’s unique program, uses Ecolab’s hydrogen peroxide vapor technology to further reduce the risk of infection.
A high-level disinfectant named Rely+On Virkon was launched by Lanxess in response to a pandemic outbreak in 2020. Hard surfaces and equipment will be highly contaminated, so the product will be highly effective.

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Sterilants Market Segmentation by Category

By Product:

Ethylene Oxide (EtO)
Glutaraldehyde
Hydrogen Peroxide Gas Plasma (HPGP)
Vaporized Hydrogen Peroxide
Immersion and Vapor Phase Peracetic Acid
Others

By Form:

Liquid
Spray

By End-user:

Hospitals
Clinics
Ambulatory Surgical Centers
Diagnostic Laboratories
Reference Laboratories
Rehabilitation Centers
Long Term Care Centers
Critical Care Centers
Pharmaceutical & Biotechnology Companies
Academics and Research Institutes
Homecare Settings

Author

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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Yorker Spouts Market Expected to Grow at 5% CAGR by 2032 | FMI Study

The yorker spouts market is set to experience substantial growth, with a projected Compound Annual Growth Rate (CAGR) of approximately 5% over the forecast period spanning from 2022 to 2032. The Global Market Anticipated US$ 1.3 Billion by 2032.

The growing popularity and sales of yorker spouts can be attributed to their versatility and diverse range of applications. These spouts are widely utilized for dispensing an array of food products, including ketchup, oils, syrups, honey, and various other viscous substances. This broad spectrum of applications positions yorker spouts as essential components in the food industry, further propelling their market growth.

Yorker spouts help to reseal the package and are easy to handle and prevent leakage and wastage of liquids and the same is propelling the demand for yorker spouts in a number of countries from around the world. In addition, the higher sales of yorker spouts are also due to the convenience associated with it, especially, when yorker spouts are applied to squeezable bottles.

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Growth Factors

Precision Dispensing Needs:
- Controlled Pouring: The Yorker spouts are designed for controlled pouring and dispensing of liquids, catering to industries where precision is crucial, such as food, chemicals, and crafts.
Flexible Packaging Trends:
- Versatility: Yorker spouts are compatible with various packaging formats, including flexible pouches and bottles. The growth of flexible packaging across industries contributes to the demand for spouts that enhance convenience.
Convenience and User-Friendly Design:
- Ease of Use: The user-friendly design of Yorker spouts, allowing for mess-free dispensing and convenient resealing, appeals to consumers seeking hassle-free packaging solutions.
Diverse Industry Applications:
- Food and Beverage: Yorker spouts are widely used in the food and beverage industry for products like sauces, condiments, syrups, and edible oils.
- Chemicals and Adhesives: Industries dealing with chemicals, adhesives, and sealants utilize Yorker spouts for precise application.
Packaging Innovation:
- Technological Advancements: Ongoing innovations in packaging technology and design contribute to the development of improved Yorker spouts with features like anti-drip mechanisms and enhanced sealing.

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Drivers & Restraints

Need for closures that are efficient and safe and can be easily accessed is expected to propel the demand for yorker spouts. Changing preferences of the consumers’ and the need for innovative closures can rise the sales of yorker spouts.

Increasing health issues and inclination of consumers towards comfortable lifestyles may as well boost the demand for yorker spouts. Sales of yorker spouts is projected to scale up as it encourages people from around the world to purchase owing to the recyclability of yorker spouts which helps to avoid much expenditure on production of yorker spouts.

In Asia Pacific region, India, and China are expected to witness higher sales of yorker spouts in coming years and the same is attributed to the high demand for yorker spouts on account of its ability to provide leak proof closing.

Key Players:

Mold-Rite Plastics LLC,
Weener Empire Plastics Pvt. Ltd.,
O.Berk Company, LLC,
CL Smith Co,
Tolco Corporation,
Jarden Plastic Solutions, etc.

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