Market Research Blog – Page 1873 – New Product Development

Global Point-of-Care Cholesterol Monitoring Device Market Set to Surge, Projected to Reach USD 514.7 Million by 2028

The global point-of-care cholesterol monitoring device market is anticipated to witness robust growth, with projections indicating a rise to USD 514.7 million by 2028, up from USD 440.6 million in 2022, register CAGR of 2.6% over the forecast period. These findings come from a comprehensive survey conducted by Future Market Insights (FMI), highlighting a significant upward trajectory in market value over the forecast period.

The accelerating prevalence of chronic diseases such as diabetes, cardiovascular disorders, and dyslipidemia is a key driver propelling this market expansion. With increasing incidences of obesity and cardiovascular ailments globally, there has been a parallel increase in the demand for cholesterol testing solutions. Point-of-care cholesterol monitoring devices offer swift, accurate results, meeting the growing need for efficient healthcare diagnostics at the point of patient care.

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“Rising awareness about the importance of early diagnosis and management of cholesterol levels is fueling the adoption of point-of-care cholesterol monitoring devices,” remarked a Future Market Insights. “These devices provide healthcare providers and patients with timely insights, facilitating prompt medical interventions and improved health outcomes.”

The growing integration of advanced technologies in healthcare, coupled with initiatives promoting preventive healthcare measures, further bolsters the demand for point-of-care cholesterol monitoring devices. These devices empower healthcare professionals to conduct on-the-spot testing, enhancing patient convenience and treatment efficacy.

This factors restraining demand for point-of-care cholesterol monitoring devices:

Concerns about Accuracy and Reliability:
- Point-of-care tests might not be as accurate or reliable as lab tests performed by professionals.
- User error by untrained users (both healthcare providers and patients) can lead to result fluctuations.
Regulatory hurdles:
- Strict regulations for new device approval can lead to long delays in getting products to market.
- Stringent standards may limit the variety of available devices.

These factors can make healthcare providers and patients hesitant to adopt point-of-care cholesterol monitoring devices, hindering market growth.

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Competitive Landscape:

The point-of-care cholesterol monitoring device market is dominated by a small number of major players. These companies frequently form strategic partnerships, and they actively release new products and pursue acquisitions to solidify their market share. Here are some recent examples:

In November 2019, ACON Laboratories, San Diego, CA announced the launch of On Call® Extra Mobile Glucose Monitoring Systems in Europe and Latin America.
In April 2020, PTS Diagnostics announced that they are partnering with MedPro Healthcare Sales Solutions, a leading healthcare contract sales organization.

Key Companies Profiled:

F.Hoffmann-La Roche Ltd.
Abbott Laboratories
Abaxis, Inc. (Sub of Zoetis Inc.)
DiaSys Diagnostic Systems GmbH
ACON Laboratories
PTS Diagnostics
Bioptik Technology, Inc.
SD Biosensor, Inc.
Jant Pharmacal Corporation, Inc.
Nova Biomedical Corporation.
Beckman Coulter Inc. (Sub of Danaher Corporation)
SAMSUNG HEALTH CARE, Inc.

Point-of-care Cholesterol Monitoring Device Market by Category:

By Product

Instruments
- Table-top Analyzers
- Hand-held Analyzers
Testing Kits

By Technology

Electrochemical Biosensor
Reflectance Photometry

By Application

Dyslipidemia
Atherosclerosis
Hypercholestrolemia
Hypocholesterolimea
Others

By End User

Hospitals
Diagnostics centers & Laboratory
Ambulatory surgical centers
Home care sittings

By Region

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding China & Japan (APECJ)
China
Japan
Middle East and Africa (MEA)

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About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Global Angio Suites Market to Expand Steadily is likely to grow at a CAGR of 9.1% through 2032

The global angio suites market is poised for significant growth, projected to reach USD 2.52 billion by the end of 2022 and anticipated to grow at a compound annual growth rate (CAGR) of 9.1% through 2032, according to recent market analysis. Factors driving this expansion include the increasing prevalence of cardiovascular diseases worldwide, which remain the leading cause of mortality globally.

Cardiovascular diseases account for approximately 29% of all deaths globally, with projections indicating a rising trend. In the United States alone, it is expected that 40.5% of the population will be affected by cardiovascular disease by 2030, underscoring the urgent need for advanced medical interventions such as those facilitated by angio suites.

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Angio suites, equipped with state-of-the-art imaging technologies and surgical tools, play a crucial role in diagnosing and treating cardiovascular conditions. These advanced facilities allow for precise procedures such as angiography, angioplasty, and stenting, thereby reducing patient recovery times and improving clinical outcomes.

However, the growth of the angio suites market is not without challenges. High setup and installation costs, coupled with a lack of adequate healthcare infrastructure in developing regions, pose barriers to market expansion. Despite these challenges, technological advancements and increasing investments in healthcare infrastructure are expected to bolster market growth during the forecast period.

“The rising burden of cardiovascular diseases globally underscores the critical need for advanced medical equipment like angio suites,” said FMI. “We anticipate continued growth in this market as healthcare providers seek to enhance patient care through advanced diagnostic and therapeutic capabilities.”

The projected growth of the angio suites market aligns with broader trends in healthcare towards precision medicine and minimally invasive procedures. As technological innovations continue to improve, these trends are expected to further drive market expansion, benefiting both healthcare providers and patients worldwide.

Key Research Insights Drawn from the Report:

In a consolidated market structure, the top three companies operating in the global angio suites landscape hold a whopping revenue share of around 70%.
Easy, fast-track FDA clearance holds vital importance in shaping the new product developments and launches.
Innovative therapy suites and angio suites are receiving wider platforms in recent years, with growing government funds and consistently increasing voluntary funds – pushing R&D activities further.

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Competitive Landscape:

This section of the report presents profiles of major participants in the angio suites market, highlighting their market share, organizational structure, product portfolios, unique strategies, corporate dashboard, and marketing approaches. Notable companies featured include GE Healthcare, Koninklijke Philips N.V., Siemens AG, Shimadzu Corporation, Canon, Inc., among others. Emerging players in the angio suites market are primarily concentrating on innovative marketing tactics to enhance their market presence globally.

Segmentation:

The report offers a comprehensive taxonomy of the angio suites market on the basis of product type, end user and region. On the basis of product type, the global angio suites market has been segmented into biplane angio suites and single plane angio suites.

On the basis of end user, the global angio suites market has been segmented into hospitals and cath labs. From a geographical perspective, the angio suites market has been segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa (MEA).

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Global Hydrocephalus Shunt Market Expected to Reach USD 692.25 Million by 2034 | FMI

According to FMI’s recent report, the global hydrocephalus shunt market is currently valued at USD 546.09 million in 2024. The market is projected to grow steadily, reaching an estimated value of USD 692.25 million by 2034, which represents a Compound Annual Growth Rate (CAGR) of 2.40% during the forecast period of 2024 to 2034.

Hydrocephalus, a condition characterized by an abnormal buildup of cerebrospinal fluid (CSF) in the brain, is a significant health concern driving the demand for hydrocephalus shunts. These medical devices play a crucial role in managing the condition by regulating CSF levels, thereby alleviating symptoms and significantly improving the quality of life for affected patients.

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The FMI report highlights the increasing prevalence of hydrocephalus as a primary factor propelling the market’s growth. With advancements in medical technology and a growing awareness of hydrocephalus management, the demand for effective and reliable shunt systems is expected to rise steadily.

“The increasing integration of hydrocephalus shunts across various healthcare settings, including hospitals, clinics, and medical facilities, further underscores their vital role in providing comprehensive care to patients, encompassing diagnosis, treatment, and follow-up,” states the FMI report.

Key Takeaways from the Report:

The global hydrocephalus shunt market is expected to reach USD 692.25 million by 2034, reflecting a CAGR of 2.40% from 2024 to 2034.
Rising prevalence of hydrocephalus is driving the demand for shunt implants globally.
Growing integration of hydrocephalus shunts across various healthcare settings is supporting market expansion.

FMI Offers Key Insights On the Global Hydrocephalus Shunt Market:

Hydrocephalus valves segment is expected to hold a massive value share of nearly 85 percent.
Within the Hydrocephalus valves type, adjustable pressure valves is likely to witness maximum adoption in hydrocephalus shunt surgeries.
Highest growth potential exists in North America, with an attractiveness index of 2.6 during the forecast period. Such adoption trend is expected to be followed in Western Europe—the second most lucrative market, showcasing interesting profit possibilities.
By age group, pediatrics and infants segment will report maximum adoption of hydrocephalus shunt.
Ventriculoperitoneal will remain the most preferred procedure, pushing maximum revenue in the global hydrocephalus shunt.

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Key Market Influencers: Technological Advancements and Awareness Campaigns for Hydrocephalus

Technological advancements and awareness campaigns play significant roles in shaping the market for hydrocephalus, a condition characterized by the accumulation of cerebrospinal fluid in the brain. Here are some key market influencers related to technological advancements and awareness campaigns for hydrocephalus:

Technological Advancements:

Shunt Systems: Shunt systems are commonly used to treat hydrocephalus. Technological advancements in shunt systems have led to improved designs, such as programmable valves and adjustable flow rates, enhancing treatment outcomes and patient comfort.
Endoscopic Procedures: Minimally invasive endoscopic procedures have gained popularity in treating hydrocephalus. Advancements in endoscopic technology, including high-definition imaging and surgical instruments, have made these procedures safer and more effective.
Imaging Techniques: Advanced imaging techniques like magnetic resonance imaging (MRI) and computed tomography (CT) scans aid in the diagnosis and monitoring of hydrocephalus. Ongoing advancements in imaging technology contribute to better visualization and accuracy of diagnosis.

Awareness Campaigns:

Patient Education: Awareness campaigns focused on educating patients, caregivers, and the general public about hydrocephalus are crucial. These campaigns help increase knowledge about the condition, early recognition of symptoms, and understanding the available treatment options.
Advocacy Groups: Various advocacy groups, foundations, and patient support organizations actively promote awareness campaigns for hydrocephalus. They work to raise public consciousness, support research initiatives, and provide resources for affected individuals and their families.
Fundraising Efforts: Awareness campaigns often involve fundraising activities to support research and development efforts aimed at improving hydrocephalus treatment options. These campaigns help drive investment in research, leading to innovation and advancements in the field.

Competitive Landscape:

This section of the report features profiles of the key players operating in the hydrocephalus shunt market based on their market shares, differential strategies, product offerings, marketing approach, and company dashboard. Examples of some of the key players featured in this report include

Medtronic
Johnson & Johnson
Integra LifeSciences
Becton, Dickinson and Company
Codman & Shurtleff, Inc.
LivaNova PLC
Sophysa S.A.
Miethke
Aesculap AG
MicroPort Scientific Corporation

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The Hydrocephalus Shunt Market Can Be Segmented by Type, Age, And Region:

By type, the market is segmented into:

Ventriculoperitoneal shunts (VPS)
Ventriculoatrial shunts (VAS)
Lumboperitoneal shunts (LPS)

VPS shunts are the most common type of hydrocephalus shunt, accounting for over 90% of all shunt surgeries.

By age, the market is segmented into:

Neonates and pediatrics
Adults

The neonatal and pediatrics segment is the largest segment of the market, accounting for over 70% of all shunt surgeries.

By region, the market is segmented into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

North America is the largest regional market for hydrocephalus shunts, accounting for over 40% of the global market share.

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Global Endodontics and Orthodontics Market Poised for Remarkable Growth CAGR of 5.3% from 2022 to 2032

The global endodontics and orthodontics market is experiencing a significant surge, with industry experts forecasting a Compounded Annual Growth Rate (CAGR) of 5.3% from 2022 to 2032. This projection reflects a steady rise in market value, with current sales expected to reach an impressive USD 5.09 billion by 2022.

The growth trajectory of the endodontics and orthodontics sector can be attributed to a confluence of factors driving innovation and demand. Technological advancements, evolving patient preferences, and an increased emphasis on oral health are among the primary drivers fueling this expansion. As these elements continue to shape the landscape of dental care, the industry is witnessing unprecedented growth, marking a pivotal moment in its evolution.

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Technological innovations are revolutionizing treatment methods, making procedures more efficient and less invasive, thereby enhancing patient experiences. The rise in patient awareness and preference for aesthetic dental treatments has further accelerated market growth. Additionally, the increasing focus on preventive oral health care is contributing significantly to the rising demand for endodontic and orthodontic services.

As the market continues to expand, stakeholders across the industry, from dental practitioners to manufacturers of dental equipment, are poised to benefit from the increasing opportunities. The endodontics and orthodontics market is set to evolve rapidly, presenting numerous prospects for innovation and investment.

Endodontics and Orthodontics are two distinct branches of dentistry that focus on different aspects of oral health and treatment. Let’s explore each of these markets separately:

Endodontics Market:

This segment encompasses the tools and machines used by endodontists to perform procedures like root canals. This includes endodontic files, apex locators, and dental chairs with specialized features.
Endodontic materials include gutta-percha, sealers, and various disinfectants used during root canal treatments.
This includes the professional fees charged by endodontists for performing root canal procedures.
Advances in technology have led to innovations such as digital radiography and 3D imaging, which have improved the accuracy of diagnosis and treatment planning.

Orthodontics Market:

This segment includes traditional braces, clear aligners (e.g., Invisalign), and other devices used to correct dental misalignments.
This encompasses the professional services provided by orthodontists for consultation, treatment planning, and adjustments of orthodontic appliances.
Suppliers and manufacturers of orthodontic products like wires, brackets, and bands play a significant role in this market.
The adoption of digital technology in orthodontics has led to the development of computer-aided design (CAD) systems for custom orthodontic appliances.

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Competitive Landscape:

Examples of some of the key players featured in the Endodontics and Orthodontics market report include:

Danaher
Dentsply Sirona
3M
Align Technology
Straumann Group
Henry Schein
Dentsply Sirona
Danaher
3M
Institut Straumann AG
Align Technology, Inc.
Coltene Group

Market Segmentation:

The endodontics and orthodontics market is segmented by product type, application, and region.

By product type, the market is segmented into instruments and consumables. Consumables are expected to dominate the market during the forecast period due to their high volume usage.
By application, the market is segmented into endodontics and orthodontics. Orthodontics is expected to be the fastest-growing segment during the forecast period due to the rising demand for cosmetic dentistry.
By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to account for the largest market share during the forecast period due to the high prevalence of dental diseases and the early adoption of new technologies.

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Global Homecare Dermatology Energy-Based Devices Market Fueled by Growing Awareness and Technological Advancements | FMI

The increasing awareness among the general population about the benefits of homecare medical devices, coupled with technological advancements, is significantly driving their adoption worldwide. global homecare dermatology energy-based devices market, known for their cost-effectiveness, time-saving attributes, and over-the-counter availability, are experiencing a surge in demand. These factors are pivotal in propelling the growth of the homecare dermatology energy-based devices market.

The rising prevalence of skin problems, leading to scarring, is a major concern. Acne and wrinkles are among the most common skin issues in the U.S., affecting over 50 million people annually. A significant portion of these cases, particularly acne, results in permanent scarring, with about 85% of individuals aged between 12 and 24 experiencing acne.

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LEDs and phototherapy equipment are the most commonly used homecare dermatology energy-based devices for treating acne and wrinkles. The increasing prevalence of these skin disorders is expected to directly drive the growth of the global homecare dermatology energy-based device market over the forecast period.

Key Takeaways: Homecare Dermatology Energy-based Devices Market

The homecare dermatology energy-based devices market is experiencing significant growth, driven by several factors.
Increased focus on personalized skincare, rising disposable income, advancements in at-home cosmetic procedures, and a growing geriatric population are all contributing to the market surge.
Technological advancements in LED, laser, radio frequency (RF), and intense pulsed light (IPL) devices are fueling the market’s expansion within the aesthetics sector.
The rise of telemedicine and virtual consultations with dermatologists is further facilitating the growth of this market by making treatment more accessible.
North America currently holds the largest market share due to factors like skilled professionals, advanced technology, and supportive government regulations. However, the market is expected to see significant growth in other regions as well.

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Competitive Landscape:

This section of the report profiles key players in the homecare dermatology energy-based devices market, highlighting their market shares, product offerings, unique strategies, company overviews, and marketing approaches. Notable companies featured include Shenzhen Leaflife Technology Co., Ltd., Dezac Group (Rio Beauty), Norlanya Technology Co., Home Skinovations Inc., Koninklijke Philips, Johnson & Johnson Consumer Inc., Procter & Gamble, Tria Beauty, and Conair Corporation.

These companies offer a diverse range of homecare dermatology energy-based devices for various applications such as wrinkle reduction, hair removal, and acne control. Leading manufacturers are implementing innovative marketing strategies to enhance their product reach and expand their geographical presence in the global market.

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Segmentation:

The report provides a detailed classification of the homecare dermatology energy-based devices market by product type, application, distribution channel, and region. These devices are employed for various purposes, including skin rejuvenation, pigmentation, acne control, wrinkle reduction, and hair removal, among others. Major distribution channels for these devices include supermarkets and hypermarkets, retail pharmacies, drug stores, and e-commerce platforms.

The market is categorized by product type into intense pulsed light (IPL) devices, laser devices, LED devices, radiofrequency devices, and infrared devices. By application, the market is divided into hair removal, acne treatment, wrinkle reduction, skin rejuvenation, and pigmentation treatment.

Regarding distribution channels, the market is segmented into supermarkets and hypermarkets, retail pharmacies, drug stores, and e-commerce. The regional analysis covers North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding China & Japan (APEC), China, and the Middle East & Africa (MEA).

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Global Esophagoscopes and Gastroscopes Market Poised for Major Growth, Reaching USD 2.0 Billion by 2033

The global market for esophagoscopes and gastroscopes is on the verge of substantial growth, with industry analysts predicting a Compound Annual Growth Rate (CAGR) of 5.4%. Currently valued at USD 1.2 billion in 2023, this market is anticipated to soar to an impressive USD 2.0 billion by the end of 2033.

Gastrointestinal endoscopy is at the cutting edge of contemporary medical practice, transforming the diagnosis and treatment of numerous digestive system conditions. As essential instruments in this field, esophagoscopes and gastroscopes are expected to play a crucial role in improving patient outcomes and boosting medical efficiency.

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The significant expansion forecast for the esophagoscopes and gastroscopes market underscores the increasing demand for advanced diagnostic and therapeutic procedures in gastrointestinal healthcare. With the ongoing advancements in endoscopic technology, healthcare providers are better equipped to detect, diagnose, and treat a variety of gastrointestinal disorders with enhanced precision and minimal invasiveness.

This projected growth reflects not only the technological advancements in the medical field but also the rising global prevalence of gastrointestinal diseases, the increasing adoption of minimally invasive procedures, and the growing awareness of the importance of early diagnosis and treatment.

As the market evolves, stakeholders across the healthcare spectrum—including medical device manufacturers, healthcare providers, and patients—stand to benefit from the enhanced capabilities and expanded applications of esophagoscopes and gastroscopes.

Technological Innovations Work in Market’s Favor:

Innovations in the medical sector have led to a rise in the application of mechanical instruments for treating and diagnosing esophageal ailments. Since the geriatric population is globally growing, instances of esophageal cancer are rapidly rising.

The utility of esophagoscopes for a plethora of diagnostic as well as surgical processes is aiding the market growth. The recent increase in the instances of global inflammatory bowel disease cases has shifted market trends. This has propelled the need for wide application devices for early disease detection. Such factors are cohesively fostering the fruitful application of advanced esophagoscopes and gastroscopes in the healthcare sector.

Medical Use Linked to Infection & Allergies, Market Prospects Impacted:

Despite the steadily improving market prospects, there are factors such as the risk of infection from contamination, anesthesia-induced allergic reactions, and organ perforation risks. These factors are expected to hinder market growth during the forecast period. Key players need to focus on developing variants that are more efficient and pose fewer side effects.

Soaring Product Costs Impact the Market Growth Rate:

Currently, the advanced endoscopes available in the market are expensive. This can be attributed to the use of specialized components in their manufacturing processes. Hence, there is a need to develop a cheaper alternative for the sophisticated components of these advanced models. This would open up the market to a larger consumer segment, triggering steady revenue increment.

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As Key Players Consolidate their Position, New Entrants Need to Innovate:

Recent market trends have revealed that key players are driving product innovations using advanced technologies. This is to aid product application in the highly competitive medical device manufacturing sphere. Hence, new entrants need to carefully harness niche technologies for specific applications. By identifying gaps in the current market, startups could overtake key players.

Key Takeaways from the Report:

The esophagoscopes and gastroscope market rose at 4.9% CAGR from 2017 to 2022, with sales revenue in 2022 reaching USD 1.1 billion.
During the forecast period, the United States market is expected to register a CAGR of 5.8% and attain a value of USD 648.5 million by 2033.
During the forecast period, the Indian market is expected to register a CAGR of 6.2%.
The hospital end-user segment is expected to register a CAGR of 5.2% during the forecast period.
The flexible endoscope segment dominates the market by product type at a CAGR of 5.0%, predicted between 2023 and 2033.

Recent Market Developments:

In September 2020, PENTAX Medical launched its latest innovation: video gastroscopes. This product line was named the J10 Series Ultrasound Video Gastroscopes. These are equipped with comes with linear scope scans as well as advanced frequency capabilities
In October 2021, FUJIFILM Healthcare Americas Corporation launched its new endoscope variant – Fujifilm’s EI-740D/S. It is a dual-channel endoscope approved by the FDA. It can be used for the diagnosis and treatment of both the upper and lower gastrointestinal tract.
In February 2022, Ambu A/S gained FDA clearance for their latest gastroscope variant.

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Key Market Players:

Shanghai AoHua Photoelectricity Endoscope Co. Ltd.
Olympus Corporation
Pentax Medical Company
Fujifilm Holdings Corp.
Karl Storz GmbH & Co. KG

Key Segments of Esophagoscopes and Gastroscopes Industry Survey:

Esophagoscopes and Gastroscopes Market by Product Type:

Rigid Endoscopes
Flexible Endoscopes

Esophagoscopes and Gastroscopes Market by End User:

Esophagoscopes and Gastroscopes for Hospitals
Esophagoscopes and Gastroscopes for Ambulatory Surgical Centres
Esophagoscopes and Gastroscopes for Specialty Clinics
Esophagoscopes and Gastroscopes for Diagnostic Centres

Esophagoscopes and Gastroscopes Market by Region:

North America Esophagoscopes and Gastroscopes Market
Latin America Esophagoscopes and Gastroscopes Market
Europe Esophagoscopes and Gastroscopes Market
East Asia Esophagoscopes and Gastroscopes Market
South Asia & Pacific Esophagoscopes and Gastroscopes Market
Middle East & Africa Esophagoscopes and Gastroscopes Market

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Castor Oil Derivatives: Market Poised for 4.9% CAGR Driven by Expanding Skin and Hair Care Applications

The market for castor oil derivatives is expected to grow at a 4.9% average annual growth rate (CAGR) between 2023 and 2033. The market for castor oil derivatives is anticipated to be valued at USD 1.37 billion in 2023, but it is anticipated to reach a market share of USD 2.21 billion by 2033.

The expansion of pharmaceutical, cosmetic, and personal care industries is flourishing the demand for castor oil derivatives. Furthermore, the increasing pollution is also pushing end users to look for herbal products to safeguard their skin and hair.
The medicinal usage of castor oil derivatives for effective immunity and is helpful in constipation. Along with it, pharmaceutical lotions for joint pain and arthritis are expanding the market verticals.
The long range of applications including the usage of castor oil derivatives as a bio-energy source is gaining traction for the market and its future possibilities during the forecast period.
Enhancing blood circulation, and effective impact on the moles and cysts are garnering market growth. The increased manufacturing facilities in emerging economies are thriving the demand for castor oil derivatives.
Lastly, the most important application of castor oil derivatives on hair is that it strengthens and thickens the hair. These derivatives have no or lower side effects. Alongside this, the rising usage of alternative medicine in developed economies is also propelling market growth.

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Key Points

Indian market leads the castor oil derivatives market in terms of CAGR in the Asian region. The India region thrives at a CAGR of 5.9% between 2023 and 2033. The growth in this region is attributed to the expanding production and exporting capacity along with the higher government efforts.
In 2023, the Japanese market holds a market share of 3.6% in the global market, attributed to the higher penetration of the cosmetic industry.
The German castor oil derivatives market is another significant market in the region. The market holds a market share of 5.8% in 2023. The growth is attributed to the presence of major cosmetic and pharmaceutical brands along with the joint efforts of the European government.
The pharmaceutical segment leads the application type segment as it holds a market share of 22.5% in 2023. The growth is attributed to the higher consumption and its helpful proposition on constipation.
Based on the classification, the industrial segment leads as it holds a market share of 74.7% in 2023.

Competitive Landscape

The key vendors work on application-specific castor oil derivatives along with increasing the production capacity. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.

Recent Market Developments

Sebacic India Pvt. Ltd. Has introduced its “From black to green” program that produces powder sebacic acid and grain sebacic acid with white crystalline powder and white granular.
Adani Wilmer and Royal Castor Products are engaging in third-generation castor seeds and castor oil derivatives. This development has fueled the presence of Indian dominance in the global market.

Key Players

BASF SE
Hengshui Jinghua Chemical Co., Ltd.
N.K. Proteins Pvt. Ltd.
Thai Castor Oil Industries Co. Ltd.
Sebacic India Pvt. Ltd.
HOKOKU Co. Ltd.
Adani Wilmar Ltd.
Gokul Agri International Ltd.
RPK Agrotech
Arvalli Castor Derivatives Pvt Ltd.
Krishna Antioxidants Pvt. Ltd.

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Key Segments Covered

Product Type:

Undecylenic Acid
Sebacic Acid
Castor Wax
Dehydrated Castor Oil
Others

Application:

Lubricants
Cosmetics & Pharmaceuticals
Biodiesel
Plastics & Resins
Other

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 ~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.
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Suite 401, Newark, Delaware – 19713, USA
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Global Cardiac Ultrasound Systems Market Set for Steady Growth, Expected to Hit USD 2.33 Billion by 2033

The global cardiac ultrasound systems market is anticipated to capture a valuation of USD 1.43 billion in 2023. The overall sales of cardiac ultrasound systems are estimated to reach USD 2.33 billion with a CAGR of 5% by 2033.

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Several factors influencing the global market are:

Non-invasive Nature: The demand for cardiac ultrasound systems is rising due to their non-invasive imaging technique. It provides imaging structure using sound waves to maintain patient-friendly invasive diagnostic procedures.
Diagnostic Versatility: The increasing adoption of cardiac ultrasound systems is rising to offer color Doppler, two-dimensional imaging, and continuous-wave Doppler. It allows for the function of various cardiac aspects such as blood flow patterns, chamber size, and wall motion.
Imaging Quality and Accuracy: The growing advanced technologies improve the quality and accuracy of cardiac ultrasound systems. It offers high-resolution imaging, improves software algorithms, and enhances contrast capabilities, advancing the global market.
Real-time Imaging: Cardiac ultrasound offer real-time imaging to monitor and function dynamically to observe heart motion. It monitors real-time imaging and evaluates valve function, motion abnormalities, and cardiac hemodynamics.

These are a few of the features that popularly increase the demand for cardiac ultrasound systems during the forecast period.

Key Takeaways:

The cardiac ultrasound systems market is estimated to secure a valuation of USD 2.33 billion with a CAGR of 5% by 2033.
In the historical period, the market captured a valuation of USD 1.36 billion in 2022.
The United States is leading the global market by securing a maximum share during the forecast period.
Hospital sector is dominating the end-use sector in the global market by 2033.

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How Key Players are Uplifting the Global Market?

The market is consolidated by the present key players globally. These players innovate new products by investing huge amounts in research and development activities. The players are focused on consumers’ requirements and offer them advanced and improved products.

The key players are adopting various marketing tactics to uplift the global market revenue. These marketing tactics are mergers, acquisitions, collaborations, partnerships, product launches, and agreements.

Recent Developments in the Global Market are:

Philips Healthcare announced its newly launched product, EPIQ CVx, and EPIQ CVxi systems. These systems enhance imaging capabilities, artificial intelligence cardiac imaging, and advanced quantification tools. The company work on artificial intelligence-driven solutions, including automated measurement for cardiac ultrasound.
GE Healthcare announced its newly launched Vivid E90 and E95 systems to improve workflow capabilities, imaging performance, and AI-powered tools. The company collaborates with research institutions and the medical sector to develop advanced and new applications.
Siemens Healthinners launched the ACUSON SC2000 PRIME system. It is an advanced ultrasound system integrated with advanced imaging technologies to provide a streamlined workflow.
Canon Medical Systems recently launched its cardiac ultrasound technology products Aplio i800 and i900 to improve image quality and accuracy. The company also explores artificial intelligence and machine learning technologies to expand its business portfolio.
Hitachi Healthcare develops advanced cardiac ultrasound systems with 4D imaging capabilities, high-resolution, and advanced quantification tools. The company enhances workflow efficiency to expand its business portfolio.

Key Companies Profiled:

Hitachi, Ltd.
Analogic Corporation
Toshiba Corporation
Esaote SpA
Samsung Medison Co. Ltd
FUJIFILM Holdings Corporation
Mindray Medical International Ltd.
GE Healthcare

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Cardiac Ultrasound Systems Market by Category:

By Product:

Cardiac system
Ultrasound system
- Cart/Trolley Cardiac Ultrasound Devices
- Compact/Handheld Ultrasound Scanners

By End User:

Hospitals And Clinics
Diagnostic Imaging And Surgical Centers
Ambulatory Surgical Centers
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Hydraulic Fluids Market to Experience a 3.6% CAGR from 2023 to 2033 Driven by Industrialization and Construction Activities

The hydraulic fluids market is projected to grow to USD 12.6 billion by 2033. A constant compound annual growth rate of 3.6% is projected from 2023 to 2033. It will most likely reach USD 8.8 billion in 2023. The historical CAGR for the global hydraulic fluids market was 5.5% from 2018 to 2022.

The hydraulic oil market includes a variety of specialty oils used in hydraulic systems to transmit power and lubricate moving parts. These systems are standard in several industries and applications, including industrial machinery, construction equipment, automotive and marine equipment, and aerospace.

Hydraulic fluids perform several essential functions in hydraulic systems. They transmit power from the prime mover (such as an electric motor or motor) to an actuator (such as a cylinder or hydraulic engine) that performs mechanical work. In addition, hydraulic fluid also lubricates moving parts, prevents corrosion, and dissipates heat generated during operation.

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Environmental sustainability has become an essential priority in the hydraulic oil market. The need for environmentally friendly formulations is increasing to meet regulatory requirements and address ecological concerns. This comprises biodegradable liquids, low-toxicity options, and those with low environmental impact.

The preparation and use of hydraulic fluids are subject to several regulatory standards and industry stipulations. These standards ensure that liquids meet precise performance, safety, and ecological criteria. The hydraulic oil market is worldwide, with significant demand from advanced economies and developing markets. Diverse regions may have exact industrial orientations and preferences for specific types of hydraulic fluids.

The industry’s continuous research and development activities focus on generating more effective and longer-lasting formulations. This comprises the growth of advanced additives and base oils that improve fluid performance. The market is modest, with both large multinationals and small specialized manufacturers. Companies can differentiate through product performance, environmental sustainability, and service offerings.

Key Takeaways from the Hydraulic Fluids Market Report

The United States hydraulic fluids industry is projected to reach US$ 2.1 billion in the forecast period.
The United Kingdom’s hydraulic fluids industry is set to be valued at US$ 476.5 million by 2033.
China’s hydraulic fluids industry will likely total US$ 1.5 billion by 2033.
Japan’s hydraulic fluids industry is estimated to register US$ 1.1 billion by 2033.
Based on base oil, the mineral oil segment is set to witness a CAGR of 3.3% from 2023 to 2033.

“In the automotive industry, hydraulic fluids are majorly used in clutches, brakes, and power steering systems. Clutch, brake, and power steering fluids are the forms of hydraulic fluids used in the automotive sector. These fluids aid by generating force (transferring kinetic or potential energy) and protecting contact surfaces from wear and tear.” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

Competitive Landscape

Key companies and manufacturers are directing on expanding their service & and product portfolios by launching new products. They would also employ several growth strategies such as acquisitions, advertising, partnerships, deals, and mergers to stay significant in the market.

Top Key Players in the Market

ADDINOL Lube Oil GmbH
Amalie Oil Co.
Bechem Lubrication Technology
LLC
Bel-Ray Company LLC
BP PLC
Chevron Corporation

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Get More Valuable Insights into the Hydraulic Fluids Market Report

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global hydraulic fluids market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study incorporates compelling insights on the hydraulic fluids industry based on point of sale (aftermarket, OEM) base oil (mineral oil, synthetic oil, bio-based oil) end-use (construction, metal & mining, agriculture, oil & gas, transportation, cement production, food processing) other end-uses) across several regions.

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 ~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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BBQ Charcoal Industry Poised for Significant Growth, Forecast to Hit USD 4.6 Billion by 2033

The global market for BBQ charcoal is expected to grow at a compound annual growth rate (CAGR) of 4.8% to reach a value of USD 4.84 billion by 2033, according to Future Market Insight. Compared to its present value of USD 3.03 billion in 2023, this represents a significant increase.

Charcoal is an ideal fuel for quickly cooking pizzas, steaks, and kebabs at high temperatures. Charcoal grills offer a versatile cooking method for a wide range of recipes. Over the past five years, there has been a significant increase in the demand for charcoal grills. This surge can be attributed to the growing popularity of grilled food and its appealing qualities, such as the smoky flavor, portability, and nutritional value.

The demand for BBQ charcoal has steadily increased in the domestic and personal sectors due to rising household demand. Indoor cooking has become more popular as people prefer to cook at home and enjoy homemade grilled food. This cooking trend at home is expected to persist during the forecast period.

The growing awareness of hygiene and health is expected to boost the demand for home-cooked food. Global demand for BBQ charcoal is anticipated to increase as grilled food becomes a growing trend among millennials. Additionally, the benefits of charcoal grills for BBQ, including enhanced flavor, smoky taste, portability, and healthier food options, contribute to the increasing demand.

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BBQ charcoal is commonly used for outdoor cooking during leisure activities such as picnics, camping trips, and beach parties. As people engage in outdoor leisure activities, the demand for BBQ charcoal increases. BBQ charcoal offers convenience, portability, and the ability to cook delicious food in an outdoor setting.

The introduction of new flavors and additives that enhance the taste of grilled dishes has intrigued early adopters to experiment with charcoal grilling. Furthermore, the rise in camping among younger generations and the increasing number of weekend outings have led to more cooking contests, thereby driving the demand for charcoal. These shifts in lifestyle are anticipated to impact charcoal sales positively.

Barbecuing is deeply rooted in the cultural and regional traditions of many countries. In certain regions, such as North America, South America, and Europe, barbecuing is integral to the culinary heritage. The cultural and regional preferences for charcoal grilling contribute to the sustained demand for BBQ charcoal in these areas.

There is a market for premium and specialty charcoal products that offer unique features or flavors. For example, charcoal infused with natural flavors can enhance the taste of grilled food. Exploring innovative charcoal products can attract customers. Examples of innovative charcoal products include long-lasting or quick-lighting charcoal. These products cater to customers seeking convenience and high-quality grilling experiences.

Key Takeaways from the BBQ Charcoal Market:

The BBQ charcoal industry in the United Kingdom is anticipated to rise, exhibiting a CAGR of 4.0% through 2033.
The United States held a 28.9% share of the global BBQ charcoal industry in 2022.
With a CAGR of 6.0% over the forecast period, India is predicted to develop rapidly in the BBQ charcoal industry.
In 2022, Japan had a 3.6% share of the BBQ charcoal industry globally
The BBQ charcoal industry in China is expected to increase, registering a CAGR of 5.5% over the forecast period.
Germany accounted for 7.7% of the global BBQ charcoal industry in 2022.

Competitive Landscape in the BBQ Charcoal Market

Leading players in the BBQ charcoal industry embrace diverse approaches to strengthen the market presence and expand global reach. Following are a few strategies

Expand product offerings to cater to different consumer preferences and market segments.
Invest in creative advertising campaigns and collaborations with influencers to enhance brand visibility.
Optimize websites for seamless online shopping and engage with customers through social media.
Form strategic alliances with BBQ equipment manufacturers, grill brands, or food and beverage companies for cross-promotion.
Implement strict quality control measures and prioritize customer feedback for consistent satisfaction.
Identify and enter new markets with high BBQ charcoal demand through adaptation and distribution partnerships.
Invest in innovation, explore new technologies, and develop product variations aligned with consumer trends.
Promote sustainability through carbon offsetting, energy-efficient processes, and participation in reforestation initiatives.

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Recent Developments by Key Players in the BBQ Charcoal Market

In 2021, Middleby Corporation finalized the acquisition of Masterbuilt Holdings LLC. Masterbuilt Holdings LLC is a company based in Atlanta. The company is well-known for its outdoor residential products designed for charcoal cooking.

The Oxford Charcoal Company exhibited its Agri-tech and Biochar grade products in May 2019. The exhibition took place at the BBC Gardeners World Live show. The show was held in conjunction with the BBC Good Food Show Summer. The BBC Good Food Show Summer is one of the leading gardening shows in the United Kingdom.

Key Players

Pol-GartenHolz GmbH & Co KG
Dancoal
Gryfskand sp z.o.o
Oxford Charcoal Company
Direct Charcoal Limited
Eco Grilly
GrillBon
Bracia Tokarscy
BOOMEX GmbH
The Great Welsh Charcoal Company
Perechin Timber-Chemical Plant

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BBQ Charcoal Market by Category

By Product Type:

Lump Charcoal
Charcoal Briquettes

By Sales Channel Type:

Offline
Online

By End Use:

Domestic & Personal
Commercial

By Region:

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

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 ~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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