Global Digital Pump Market Revenue Anticipated to Exceed USD 20.5 Billion Mark by 2032, Driving 6.1% CAGR Growth | FMI Study

The digital pump market is envisioning a substantial Compound Annual Growth Rate (CAGR) of 6.1% from 2022 to 2032. This upward momentum is set to elevate the market to remarkable heights, projecting a valuation of USD 20.5 billion by 2032, marking a significant increase from its 2022 valuation of USD 11.3 billion.

At the heart of this surge in the digital pump market lies their versatile utility, particularly in terms of energy savings and cost efficiency. These innovative pumps find applications across a diverse spectrum of sectors, including buildings, water treatment plants, boiler control systems, and automation. Their remarkable ability to optimize and streamline fluid management processes emerges as a pivotal factor driving market growth.

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These pumps not only conserve energy and reduce costs but also find applications in various sectors such as construction, water treatment facilities, boiler control systems, and automation, contributing significantly to the market’s expansion. Additionally, the acceleration of market growth is attributed to several other factors, including stringent energy-efficiency regulations in developed nations, the rise of the Industrial Internet of Things (IIoT), and the economic advantages associated with intelligent systems, particularly in the context of smart water and wastewater management.

Moreover, the increasing global capacity for power generation and substantial investments in non-oil and gas sectors within the Middle East and North Africa (MENA) region are poised to further bolster the growth of the digital pump market throughout the analysis period.

Notable Insights from the Market Analysis:

  • The global digital pump market reached a valuation of USD 11.3 Billion by the end of 2022.
  • The United States is anticipated to lead the market demand, accounting for the highest value share of USD 5.5 Billion in 2032.
  • The period from 2015 to 2021 witnessed a considerable expansion in Digital Pump demand, marked by a Compound Annual Growth Rate (CAGR) of 6.7%.
  • Among different connectivity options, the conventional pump controller dominates the digital pump market, exhibiting a CAGR of 4.9%.

“Remarkably, digital pumps offer energy and cost savings while finding applications in building infrastructure, water treatment facilities, boiler control systems, and automation. This vital aspect drives the growth of the market,” comments an analyst from FMI.

Competitive Scenario:

Key players in the global Digital Pump Market are strategically expanding their global footprint through a variety of tactics, including collaborations, partnerships, and alliances. These industry participants are also making substantial investments in research and development (R&D) to infuse innovation into their products, thereby reinforcing their market position.

Notable recent developments among major players include:

  • In August 2021, Regal Beloit Corporation, a leading global manufacturer and engineering solutions provider for power transmission, introduced the Century VGreen Evo pool pump motor to its product lineup. This new motor, driven by advanced variable speed technology, stands as one of the most energy-efficient pool pump motors available in the market.
  • In March 2020, Framo and Aker BP announced a smart pump maintenance contract for seawater lift pumps in the Norwegian Continental Shelf. The six-year contract extension is a continuation of a pilot contract initiated in 2018 involving pump supplier Framo, production company Aker BP, and industrial AI Software as a Service (SaaS).

Key Players:

  • ITT Corporation
  • Xylem
  • KSB Aktiengesellschaft
  • Flowserve Corporation
  • Wilo SE
  • ABB
  • Grundfos Holding
  • Sulzar
  • Colfax Corporation
  • Regal Beloit
  • Wanner International
  • Kirloskar

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Key Segments Covered:

Digital Pump by Connectivity:

  • Conventional Digital Pump Controller
  • Mobile/Remote Digital Pump Controller

Digital Pump by Distribution Channel:

  • Online Digital Pump Sales
  • Retail Digital Pump Sales
  • Company Owned
  • Third-Party

Digital Pump by Industry:

  • Digital Pump for Manufacturing
    • Food and Beverage
    • Pharmaceutical
    • Oil & Gas
    • Textile and Paper
    • Chemicals
    • Biotechnology
    • Construction
  • Digital Pumps for the Public Sector
    • Water and Wastewater Treatment
    • Pumping Stations
  • Digital Pumps for Agriculture
  • Digital Pumps for Residential Use

Digital Pump by Region:

  • North America Digital Pump Market
  • South America Digital Pump Market
  • Europe Digital Pump Market
  • Asia Pacific Digital Pump Market
  • Middle East and Africa Digital Pump Market

Author:

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

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

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

About Future Market Insights (FMI)

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

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T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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BB Cushion Market Poised for Explosive Growth: 17% CAGR Projected by 2032 | Report By FMI

The global BB cushion market is getting a beautiful makeover, with a projected market value of US$17.35 billion by 2032. This translates to a staggering Compound Annual Growth Rate (CAGR) of 17% from 2022, fueled by several key trends.

A Flourishing Market: Beauty on the Rise

Several factors are contributing to the BB cushion market’s vibrant growth:

  • Soaring Disposable Incomes: Rising disposable income, particularly among the middle class, empowers consumers to invest in beauty products like BB cushions.
  • Beauty Awareness Takes Center Stage: A growing population is increasingly focused on maintaining healthy and beautiful skin, creating a strong demand for innovative makeup solutions.

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Innovation Drives Expansion

Beyond its core functionality, the BB cushion market is flourishing thanks to continuous innovation:

  • Portable Perfection: The convenient, compact design with an applicator allows for easy application and touch-ups, making BB cushions ideal for busy lifestyles.
  • A Natural Look: The “no-makeup makeup” trend is perfectly catered to by BB cushions, offering a seamless finish for a natural appearance.
  • Customization for All: BB cushions come with customizable coverage and a sponge applicator, making them user-friendly even for makeup beginners.

Looking Forward: A Bright Future for BB Cushions

The BB cushion market is poised for continued success, driven by:

  • Youthful Focus on Skin Care: Heightened skincare awareness among younger generations is driving demand for BB cushions.
  • The Rise of Organic Beauty: The increasing popularity of organic and natural skincare products presents exciting opportunities for BB cushion manufacturers who cater to this trend.
  • Beauty Beyond Gender: The growing acceptance of men’s use of beauty products is further expanding the market’s potential.
  • E-commerce Boom: The rapid expansion of e-commerce, especially in developing countries, is facilitating easier access to BB cushions for a wider audience.
  • The Power of Social Media: Marketing strategies leveraging platforms like Instagram are influencing consumer trends and promoting BB cushion use.

Challenges and Considerations

While the future looks bright, some hurdles need to be addressed:

  • Rural Market Awareness: Limited awareness about BB cushions in rural areas presents an opportunity for market expansion through education and outreach.
  • Product Availability: Ensuring wider product availability throughout various regions is crucial for sustained growth.
  • Sensitive Skin Concerns: Developing gentle formulations suitable for sensitive skin can attract a broader customer base.

The BB cushion market is a testament to the ever-evolving beauty industry. Manufacturers who focus on innovation, cater to diverse skin types, and leverage digital marketing channels are well-positioned to capture a significant share of this flourishing market and help consumers achieve their desired flawless look.

Key Takeaways from the BB Cushions Market

  • Europe holds a significant share of BB Cushions market. This could be credited to rising demand for anti-aging creams. Germany and the UK are leading from the front herein.
  • The countries like Thailand, China, Bangladesh, and India are dominating the BB cushions market in the Asia-Pacific and the scenario is expected to persist even in the forecast period. This could be credited to skincare market being on an expansion spree in these countries.
  • BB cushions for dry skin hold the largest market share and would continue to do so even going forward.

Competitive Landscape

  • 3Lab has its Aqua BB Protect, which makes way for all-day hydration along with protection against UV rays. It’s light and successfully conceals discoloration due to heat/sun and age spots. The key ingredients are inclusive of micronized titanium dioxide, zinc oxide, and cetyl ethylhexanoate.
  • Lancome has its Lancome Miracle Cushion Liquid Cushion Compact Spf 23 – # 02 Beige Rose 14g. It comes across as the first liquid cushion compact make-up lightweight and effortlessly blends onto the skin. The buildable coverage helps in hiding pores, lines, and flaws on face. Apart from offering all-day hydration, it offers protection against UV rays as well.
  • Dior has its Dior Forever Perfect Cushion with luminous matte finish. It offers 24 hours of watery hydration for freshness and seasonal comfort.

What does the Report Cover?

  • Future Market Insights offers an exclusive perspective and various real-time insights on the BB cushions market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
  • The research study is based on skin type (BB cushions for dry skin, BB cushions for oily skin, BB cushions for combination skin, and BB cushions for normal skin), by nature (conventional BB cushions and organic BB cushions), and by sales channel (indirect sales of BB cushions, direct sales of BB cushions, specialty stores, independent stores, online stores, and supermarket/hypermarket).

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Key Segments Profiled in the Global BB Cushions Market

Skin Type:

  • BB Cushions for Dry Skin
  • BB Cushions for Oily Skin
  • BB Cushions for Combination Skin
  • BB Cushions for Normal Skin

Nature:

  • Conventional BB Cushions
  • Organic BB Cushions

Sales Channel:

  • Indirect Sales of BB Cushions
  • Direct Sales of BB Cushions
  • Specialty Stores
  • Independent Stores
  • Online Stores
  • Hypermarket/Supermarket

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • 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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T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Global Tower Crane Market Valuation Predicted to Cross USD 33,661.95 Million Mark by 2033, Driven by 4.8% CAGR Growth

The tower crane market is primed for significant growth, projecting an ascent to USD 21,063.30 million in 2023, further reaching an impressive USD 33,661.95 million by 2033. This notable expansion is expected to be upheld by a consistent Compound Annual Growth Rate (CAGR) of 4.8% from 2023 to 2033.

The development of efficient tower cranes necessitates a wealth of expertise and experience. Typically anchored securely to foundations on construction sites, these cranes have witnessed a progressive increase in size and strength as construction professionals strive to enhance productivity, efficiency, and safety. Both stationary and mobile cranes, tailored to project requirements, find versatile application across various tasks.

Modern tower cranes play a pivotal role in empowering construction firms to achieve heightened productivity and efficiency. They facilitate the construction of tall buildings, even in densely populated urban areas, employing environmentally sustainable methods. Notably, they contribute to expedited project completion, with labor cost savings emerging as one of their most appealing features.

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Companies that develop buildings benefit from tower cranes because they can work more quickly and effectively. To handle even the heaviest tasks effortlessly, these heavy-lifting staples will come in handy. The tower cranes are not only a great addition to any urban aesthetic, but also they also come in handy for lifting heavy items, such as concrete, steel, and other heavy items.

A portable option also eliminates the need to carry bulky equipment. Automation and remote operation technologies are gradually being adopted by the construction industry. Remote control and automation could lead to tower cranes becoming less dependent on on-site operators. The result can be an improvement in safety and efficiency, as well as a reduction in labor costs.

Key Takeaways:

  • By design, bottom stewing cranes will contribute 63.4% of market revenue through 2033.
  • According to the forecast, hammerhead cranes will hold a 35.6% market share.
  • The United Kingdom is expected to experience a CAGR of 4% until 2033.
  • Throughout 2033, the demand for tower cranes in the United States is expected to increase by 4.5% CAGR.
  • By 2033, the tower crane market in India is predicted to expand at 5.8% CAGR until 2033.

“New manufacturing techniques and efficient tower cranes will drive demand. Increasing safety regulations and rental rates will drive market growth over the next few years,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

Various players operate in the tower crane industry, making it moderately competitive. It is becoming increasingly common for players to carve out a niche for a specific demographic. Strong partnerships with a high focus on innovation have benefited the market. As a result, a series of tower cranes have been launched since the beginning of the decade.

Market Developments Include:

  • In September 2023, The NFT Group, headquartered in Abu Dhabi, is the exclusive distributor of Potain cranes in the Middle East and has one of the world’s largest tower crane fleets. As part of the vast NEOM development, two Potain tower cranes have been purchased and are being shipped immediately to a Saudi Arabian tourist attraction. An MCT 1005 and an MCT 1105 are two of Potain’s largest topless tower cranes, but one is the newest.
  • In October 2023, Manitowoc launched its Grove GRT8100-1 rough-terrain crane and Grove five-axle all-terrain cranes at GIS Expo 2023, Europe’s largest lifting, transportation, and industrial exhibition. With so many customers, partners, and colleagues attending the GIS Expo, the event has become increasingly important.

Key Companies Operating in the Tower Crane Market:

  • Xuzhou Construction Machinery Group Co. Ltd.
  • Zoomlion Heavy Industry Science & Technology Company Ltd.
  • Liebherr
  • Terex Corporation
  • Manitowoc
  • Sany Group
  • Action Construction Equipment
  • Konecranes
  • Raimondi

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Tower Crane Industry Segmentation Analysis:

By Lifting Capacity:

  • Up to 5 Tons
  • 5 to 10 Tons
  • 10 to 20 Tons
  • 20 to 30 Tons
  • 50 to 250 Tons

By Design:

  • Top Slewing
  • Bottom Slewing

By Product Type:

  • Self-Erecting
  • Hammerhead Cranes
  • Luffing Jib Cranes
  • Mobile Cranes

By End-use:

  • Building & Construction
  • Civic Infrastructure
  • Marine & Sea Ports
  • Mining
  • Others

By Region:

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

Author:

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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3D Printed Surgical Models Market is expected to grow at a 14.7% CAGR and reach a landmark USD 1.7 Billion by 2032 | FMI

3D Printed Surgical Models Market
3D Printed Surgical Models Market

The future of surgery is getting a 3D makeover! A new report by Future Market Insights (FMI) forecasts a staggering growth for the global 3D Printed Surgical Models Market, with a projected market value of USD 1.7 billion by 2032. This translates to a remarkable Compound Annual Growth Rate (CAGR) of 14.7% over the next decade. This signifies a significant leap from the industry’s valuation of USD 347.5 million in 2021.

The driving force behind this extraordinary growth trajectory is the escalating demand for personalized healthcare solutions. The Global 3D Printed Surgical Models Industry, harnessing the diverse applications facilitated by 3D printing technology, is poised to redefine the landscape of surgical practices. The evolution of the industry promises a revolution in healthcare, with innovative solutions set to enhance precision and efficiency in surgical training.

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The use of 3D-printed surgical models in the healthcare industry for planning tumor excision, endovascular aneurysm repair, and the treatment of trauma injuries in orthopedic surgery has improved Global 3D Printed Surgical Models Industry statistics.

More money spent on healthcare by governments around the world aids surgeons in performing surgery precisely and successfully, increasing the number of successful treatments, and promoting the 3D-printed surgical model Industry growth.

The surge in demand for minimally invasive procedures has been the primary factor driving the market expansion for 3D-printed surgical models throughout the forecast period. An increase in R&D efforts will aid in the 3D-printed surgical models’ market share growth.

The high expense of the technology, on the other hand, is projected to restrict the demand for 3D-printed surgical models. The expansion of the market is also expected to be hampered by the rising use of recycled and refurbished equipment during the forecast period.

The most advanced healthcare infrastructure, including hospitals, clinics, and extensive use of cutting-edge medical products and services like 3D printing, is found in the United States.

3D Printed Surgical Models Market Key Segments:

  • The 3D-printed surgical models market is expected to have a CAGR of 14.7% during the forecast period.
  • The 3D-printed surgical model Industry will have a valuation of US$ 396.6 million in 2022.
  • The 3D-printed surgical model market had a valuation of US$ 347.5 million in 2021.
  • The 3D printed surgical model Industry is segmented based on surgical models, wherein the orthopedic segment is anticipated to have a CAGR of 11.4% by 2032.
  • The 3D printed surgical model Industry is segmented based on technology, wherein Color Jet Printing is anticipated to have a market share of US$ 481.4 million by 2032.
  • The 3D printed surgical mode Industry is segmented based on material, wherein the plastic segment is anticipated to have a market share of US$ 383.3 million by 2032.
  • The European 3D-printed surgical model Industry is anticipated to reach a value of US$ 473.8 million by 2032.
  • The North American 3D-printed surgical model Industry is expected to lead with a prodigious share of US$ 507.2 million during the forecast period.

3D Printed Surgical Models Market Competition Landscape:

The market for 3D-printed surgical models is very crowded, with both domestic and international vendors. The increasing demand from consumers can motivate several business individuals to introduce cutting-edge products in this sector.

Some of the major key players in the 3D printed surgical model Industry are Stratasys Ltd., 3D Systems, Inc, Lazarus 3D, LLC, Osteo3D, Axial3D, Onkos Surgical, Formlabs, Materialize NV, 3D LifePrints U.K. Ltd., and WhiteClouds Inc.

Recent Developments in the 3D Printed Surgical Models Market:

  • The company’s Mimics Enlight cardiovascular planning software suite will include new Left Atrium Appendage Occlusion (LAAO) procedure support technologies in 2021, boosting Materialize 3D printing capabilities in the field of cardiology.
  • To offer a new DICOM-to-print solution for surgeons and hospitals throughout North America in 2020, Fast Radius teamed up with Axial3D. It is predicted that such strategic actions will promote market expansion. The following are a few of the leading companies in the market for 3D-printed surgical models

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Key Segments Covered in 3D Printed Surgical Models Market Analysis

By Surgical Models:

  • Cardiac Surgery/Interventional Cardiology
  • Gastroenterology Endoscopy of Esophageal
  • Neurosurgery
  • Orthopedic Surgery
  • Reconstructive Surgery
  • Surgical oncology
  • Transplant Surgery

By Technology:

  • Stereo-lithography
  • Fused Deposition Modeling

By Material:

  • Plastic
  • Metal

By End User:

  • Hospitals
  • Ambulatory Surgical Centers

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Non-Destructive Testing (NDT) Inspection Services Market Forecasted to Cross USD 47 Billion by 2034, Driving 7.7% CAGR Growth

The global Non-Destructive Testing (NDT) inspection services market is poised for substantial growth, with a noteworthy Compound Annual Growth Rate (CAGR) projected to exceed 7.7% from 2024 to 2034. This significant expansion is attributed to the influential impact of automation, a response to the manufacturing sector’s increasing demand for faster and more efficient processes.

Non-Destructive Testing (NDT) services have emerged as transformative assets across diverse industries, providing invaluable insights that enhance operational stability and reliability. Future Market Insights, a prominent authority in market research, anticipates exponential growth in the NDT Inspection Services sector. This surge is predominantly fueled by ongoing repair and maintenance activities in the transportation sector, spanning both developing and developed nations. These initiatives underscore the critical necessity for precise flaw detection, emphasizing the indispensable role of NDT inspection services in ensuring operational integrity.

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NDT Inspection Services: Safeguarding Rail Transportation

Non-Destructive Testing (NDT) Inspection Services are poised to assume a pivotal role within the realm of rail transportation services. Their significance lies in their ability to pinpoint areas requiring improvement and correction, ultimately ensuring the safety of a large number of passengers in a single instance. The ability to identify defects and preempt failures is expected to fuel the demand for NDT Inspection Services, particularly in developing economies where train derailments and accidents are unfortunately frequent occurrences.

The European data underscores the gravity of the situation, revealing that in 2018, railway accidents resulted in 885 fatalities and 750 individuals suffering serious injuries. In the United States, the Department of Transportation reports an alarming statistic: approximately 5,000 train-car collisions transpire annually at railroad crossings, leading to around 10% of these incidents resulting in fatalities. These stark figures underscore the presence of critical flaws within the rail transportation infrastructure, encompassing issues such as malfunctioning signals, defective tracks, and mechanical failures. It is in addressing and rectifying these issues that NDT Inspection Services play an indispensable role, contributing significantly to the enhancement of safety standards within the rail transportation sector.

Global Non-Destructive Testing (NDT) Inspection Services Market: India and China as Manufacturing Hubs

The global Non-Destructive Testing (NDT) inspection services market is poised for substantial growth in the foreseeable future. The Asia Pacific region, home to manufacturing powerhouses India and China, is expected to offer remarkable opportunities for market expansion. Both India and China are on the verge of significant developments across various sectors, driving the demand for NDT inspection services.

India, in particular, is witnessing a booming medical tourism industry. This growth is anticipated to stimulate demand for reliable medical instruments, necessitating comprehensive NDT inspection processes before these instruments can be commercialized. The rigorous testing ensures the quality and safety of medical devices, aligning with the global standards.

In China, the thriving automotive industry is experiencing a surge in the adoption of NDT inspection services. Maintaining the highest standards of quality in automotive products is essential, and NDT plays a critical role in achieving this.

However, it is worth noting that recent shifts in manufacturing dynamics, with some investors retracting from China’s manufacturing landscape, raise questions about the future trajectory of this segment within the NDT inspection services market. The evolving landscape presents both opportunities and challenges, and its unfolding will be closely monitored by industry stakeholders.

Key Players:

  • Fischer Technologies Inc.
  • General Electric
  • Nikon Metrology NV
  • Yxlon International GmbH
  • Sonatest Ltd
  • Eddyfi Technologies
  • Zetec Inc.
  • Bureau Veritas
  • Duemme SpA
  • Element Material Technology Holding
  • Geecy Apave Pvt. Ltd.
  • Olympus Corp
  • Mistras Group
  • Ashtead Technology Ltd.
  • British Engineering Services Limited
  • Industrial Radiographic Inspection Co.
  • National Technical Systems, Inc. (NTS).

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Market Segmentation Analysis:

Offering Type:

  • Non-destructive Testing Services
  • Non-destructive Testing Equipment

Test Method:

  • Visual Testing
  • Magnetic Particle Testing
  • Liquid Penetrant Testing
  • Eddy Current Testing
  • Ultrasonic Testing
  • Radiograhic Testing

Industry Vertical:

  • Oil & Gas
  • Manufacturing
  • Aerospace and Defense
  • Construction
  • Automotive
  • Power Generation
  • Others

Region:

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

Author:

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Corn Puff Making Machines Market Aims to Gear Up for USD 4 Billion Milestone by 2033, Driven by 7.6% CAGR Growth

The global corn puff making machines market is predicted to reach a significant milestone, exceeding USD 4 billion by 2033. This substantial growth is fueled by a robust Compound Annual Growth Rate (CAGR) of 7.6%, according to a recent analysis by Future Market Insights (FMI). The market has already achieved a notable valuation of USD 1.9 billion in 2023, indicating a strong and sustained upward trajectory.

FMI’s research highlights the pivotal role of North America in the corn puff making machine sector, with its influence extending beyond just corn puffs. The region is not only a leader in the global corn puff market but also maintains a dominant position in the global market for potato chips. In 2021, the North American potato chip market reached a remarkable valuation of USD15.4 billion, capturing nearly half of the global market share. This dominance underscores North America’s significant influence within the broader snack food industry.

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North America Dominates the Global Potato Chips Market and Sets the Stage for Corn Puff Making Machines:

North America’s Potent Presence:

In the world of snack foods, North America stands tall as a market leader, with a substantial stake in both the potato chips and corn puff making machine markets. According to comprehensive research conducted by FMI (Food Market Insights), North America is poised to maintain its stronghold as the largest corn puff making machine market. But that’s not all – it also holds a pivotal position in the global potato chips market.

North America’s Potato Chip Supremacy:

As of 2021, North America boasted a thriving potato chips market valued at a staggering USD 15.4 billion. This figure represents nearly half of the total market share, emphasizing North America’s commanding presence in the snack industry. With an insatiable appetite for potato chips, the region provides a substantial base for the corn puff making machine market to leverage and expand upon.

Europe’s Popcorn Market: A Potential Goldmine for Corn Puff Machines

Across the Atlantic in Europe, the popcorn market is gaining momentum, currently valued at close to USD 2 billion. What’s intriguing is that the puffed corn products in this region closely mimic the appearance and even the taste of popcorn. Additionally, these snacks are packed with essential nutrients like Vitamin B, Zinc, Magnesium, and Iron. Consequently, European consumers are increasingly embracing puff corns produced by corn puff making machines. This burgeoning interest is poised to fuel the demand for corn puff machines in the foreseeable future.

Asia Pacific: A Thriving Maze Market Beckons Corn Puff Making Machines

When it comes to the maize (corn) market, Asia Pacific is sprinting ahead, showcasing rapid growth rates. Projections indicate a remarkable Compound Annual Growth Rate (CAGR) of around 7%, significantly surpassing the expected global CAGR of approximately 3.9%. The region’s robust maze market presents a cornucopia of opportunities for corn puff making machine manufacturers.

Strategic Alliances in the Corn Business:

Notably, some key players in the corn industry are strategically partnering with renowned food sector giants, such as Lay’s India, to capitalize on the rising demand for corn-based snacks. By harnessing the capabilities of corn puff making machines and forging collaborations with industry leaders, these manufacturers aim to penetrate and thrive in the burgeoning Asia Pacific market.

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Key Companies Profiled:

  • Guangzhou Shining Equipments
  • Shandong Loyal Industrial Co.,Ltd.
  • Zigma Machinery & Equipment Solutions
  • Shinyoung Mechanics Co.,Ltd.
  • Grace Food Processing & Packaging Machinery

Market Segmentation:

By Mode of Operation:

  • Automatic
  • Semi-automatic
  • Manual

By Application:

  • Household
  • Commercial

By End User:

  • Food Processors
  • HoReCa
  • Other Applications

By Region:

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

Author:

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FMI Prediction States Global Countertop Griddle Market Set to Surpass USD 3.9 Billion Milestone by 2033, Growing Steadily at 4.8% CAGR

The global countertop griddle market is on track for significant growth, with a projected valuation of USD 3.9 billion by 2033. This expansion is fueled by a consistent Compound Annual Growth Rate (CAGR) of 4.8% from its current market size of USD 2.4 billion in 2023.

The countertop griddle market is not only experiencing steady growth, but it is also benefiting from the vibrant culinary scene in the Asia Pacific region. This region is emerging as the fastest-growing market for countertop griddles, driven by its diverse and dynamic food culture. As consumers in Asia Pacific embrace a wider range of cooking techniques, the countertop griddle is becoming a popular tool for preparing flavorful meals. This trend is expected to continue shaping the growth trajectory of the countertop griddle market in the coming years.

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The demand for countertop griddles is rising as they are more practical and convenient to use as they don’t need to be checked for temperature, has charcoal added, or deal with smoke. Additionally, the device offers clients the advantages they desire, such as using countertop griddles at home for patio parties, outdoor barbecues, and other outdoor gatherings.

Countertop griddles are utilized in business settings like hotels and restaurants to prepare many meals and are seeing market expansion due to technological advancements. Different types of griddles, including those that are flat, chrome-finished, grooved, or double-sided, are offered by producers on the market. Additionally, new features connected to electric countertop griddles are anticipated to aid businesses in competing in the international market. For greater productivity in its electric countertop griddles, the Vulcan company, for instance, provides quick recovery, IRX infrared burner technology, and composite griddle plates.

Key Takeaways from Countertop Griddle Market:

  • By type, the countertop electric griddle segment dominated the market with a CAGR of 4.9% during the forecast period.
  • By material, the steel segment is anticipated to dominate the market with a CAGR of 4.4% during the forecast period.
  • The U.S. is anticipated to lead the countertop griddle market with a share of USD 1.3 billion by 2033, growing at a CAGR of 4% during the forecast period.
  • The U.K. countertop griddle market is anticipated to be valued at USD 151.1 million by 2033, growing at a CAGR of 3.1% during the forecast period.
  • China’s countertop griddle market is anticipated to be valued at USD 262.8 million by 2033, growing at a CAGR of 3.9% during the forecast period.
  • Japan’s countertop griddle market is anticipated to be valued at USD 210.2 million by 2033, growing at a CAGR of 2.8% during the forecast period.
  • South Korea countertop griddle market is anticipated to be valued at USD 120.9 million by 2033, growing at a CAGR of 1.8% during the forecast period.

Who is Winning?

Players in the market are focusing more on the countertop griddle’s thickness and control type since these factors contribute to operational effectiveness and temperature uniformity. The countertop griddle manufacturers provide several griddle plates with thicknesses of 1 inch, 1 1/2 inches, or more.

Manufacturers on the market provide flat or grooved countertop griddles with polished or chrome-plated surfaces. The flat countertop griddles are primarily used to give dependability and continuous performance. Some manufacturers provide griddles with grooves that create score marks; the extra grease is then directed into a grease trough.

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Key Players:

  • Lang World
  • Garland Group
  • Star Manufacturing International
  • Vulcan
  • Equipex

Countertop Griddle Market Segmentation:

By Type:

  • Countertop Electric Griddle
  • Countertop Gas Griddle

By Application:

  • Hotel and Restaurant,
  • Bakery Stores
  • Other Applications

By Material:

  • Steel
  • Rapid Recovery Composite
  • Chrome

By Sales Channel:

  • Direct Sales
  • Retail Sales

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

Author:

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

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

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Hard Gelatin Capsules Market is projected to be valued USD 3.2 Billion and generate 6.4% CAGR in sales revenue by 2032 | FMI

Hard Gelatin Capsules Market
Hard Gelatin Capsules Market

The Hard Gelatin Capsules Market, a popular choice for drug delivery, is showing consistent growth. A recent analysis predicts a CAGR (Compound Annual Growth Rate) of 6.4% for the Hard Gelatin Capsules Industry Size from 2022 to 2032. This steady increase highlights their continued relevance in the pharmaceutical industry.

Shell suppliers create and supply empty hard gelatin capsule shells to the pharmaceutical sector, which are then filled in a separate operation. Empty hard gelatin capsule shells are available in a series of sizes encompassing from 000 to 5, with 000 as the largest and 5, as the smallest.

Furthermore, unlike soft gels, hard gelatin capsules allow for combination filling, allowing the encapsulation of medications in the form of pellets, micro tablets, and beads in addition to the liquid formulation. This not only allows for the combination of several incompatible medications in a single capsule, but also results in a formulation that is significantly more attractive to customers.

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The rising prevalence of noncommunicable illnesses including cancer, diabetes, heart disease, and lung ailments has increased demand for nutraceuticals. As a result, significant firms have solidified their market positions by investing more in research and having a superior distribution system.

Key Takeaways from Hard Gelatin Capsules Market Study

  • Type-B gelatin (animal bones & calf skin) as a source holds an approximate market share value of 7%of the global market in 2021.
  • By size, size “0” capsules are expected to hold a dominant market share value of 7% in 2021 in the global market.
  • Oral administration is displayed as a preferred route of administration in the global market with CAGR growth value expected to reach 4% by 2032.
  • Pharmaceutical companies are the dominant segment in terms of end users within the global market, carrying an estimated market share value of about 1% in 2021.
  • The U.S. is considered to be the most lucrative market, accounting for a value share of 8% in 2021 in North America.

Hard Gelatin Capsules Market Competition

Market expansion will be hampered by increasing vendor competition. With the presence of numerous brands and regional and local vendors, the market is expected to be fragmented. Furthermore, suppliers in the hard gelatin capsules industry are expanding their offerings to include mobile healthcare, medical educators, primary care extenders, and patient advocates.

During the focused period, increased competition is expected to hurt the worldwide emergency medical service market growth. The hard gelatin capsules industry is fragmented, and providers are competing by using both organic and inorganic growth techniques.

Hard Gelatin Capsules Market Key Players :

  • ACG Worldwide
  • Lonza-Capsugel
  • Qualicaps, Inc. – MITSUBISHI CHEMICAL HOLDINGS CORPORATION
  • Sunil Healthcare Ltd.
  • CapsCanada Corporation / Farmacapsulas
  • Roxlor LLC
  • Suheung Co., Ltd. – EmboCaps
  • Medi-Caps Ltd.
  • Others

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Key Segments Covered in Hard Gelatin Capsules Market Research

By Source:

  • Type-A (Pork Skin)
  • Type-B Gelatin (Animal Bones & Calf Skin)
  • Fish Bone Gelatin

By 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 Route of Administration:

  • Oral Administration
  • Inhalation Administration

By End User:

  • Pharmaceutical Companies
  • Cosmetic & Nutraceutical Companies
  • CROs & CDMOs

Author

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

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in 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.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FMI Analysis Projects Global Industrial Gas Stove Market Expected to Exceed USD 12.25 Billion by 2033, Driven by 3.3% CAGR Growth

The global industrial gas stove market is poised for steady growth, with a projected valuation of USD 12.25 billion by 2033. This expansion is anticipated to occur at a Compound Annual Growth Rate (CAGR) of 3.3% from 2023, according to projections by Future Market Insights (FMI).

Industrial gas stoves are more than just appliances; they play a critical role in various industrial processes. These essential tools provide precise temperature control and high-intensity heat, a necessity for many manufacturing operations. Their ability to deliver consistent and efficient performance makes them a vital component in driving accuracy and productivity across diverse industrial settings.

The current market size for industrial gas stoves is estimated at USD8.86 billion in 2023. This press release highlights the projected growth trajectory of the market and emphasizes the crucial role that industrial gas stoves play in maintaining efficient manufacturing operations.

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Presently, luxury hotels emerge as prominent purchasers within the industrial gas stove market. According to comprehensive research by FMI, the luxury hotel sector anticipates a commendable growth trajectory, poised at a notable CAGR of 5% throughout the forecast duration. The integration of heavy load sharing burners within industrial gas stoves has proven advantageous for stakeholders engaged in the luxury hotel industry, effectively streamlining operational expenses.

Furthermore, the utilization of stainless steel in the fabrication of industrial gas stoves offers an additional advantage, mitigating the need for extensive maintenance due to their inherently non-greasy properties. This attribute is anticipated to amplify the demand for industrial gas stoves over the stipulated forecast period.

Significantly, a prime driver bolstering the industrial gas stove market lies in their ability to expedite cooking processes, thus positioning them as pivotal kitchen appliances. This stems from their inclusion of adaptable thermostat settings, a feature that expedites cooking procedures with seamless precision. This advantageous characteristic holds the potential to substantially elevate the sales of industrial gas stoves within the forecast duration.

Key Highlights:

  • The industrial gas stove market holds a current valuation of USD 8856.84 million in 2023.
  • Anticipated growth is projected to lead the market to a valuation of USD 12254.11 million by 2033.
  • The market is set to exhibit a steady CAGR of 3.3% during the period spanning 2023-2033.
  • In the United States, the industrial gas stove market is presently valued at USD 2258.49 million in 2023, with an estimated growth at a CAGR of 3.2% across the forecast duration.
  • The UK market is currently valued at USD 540.27 million in 2023 and is predicted to experience a robust CAGR of 4.8% during the forecast period.
  • Foreseen for China, the industrial gas stove market is poised to attain a valuation of USD 1588.35 million by 2033, underpinned by an anticipated CAGR of 5.3% throughout the forecast timeframe.
  • The Japan market holds a valuation of USD 788.26 million as on 2023, and is projected to expand at a CAGR of 5.4% through 2033.
  • The South Korea industrial gas stove market is expected to grow at a CAGR of 4.4% through 2033, and by 2033, the market is expected to be valued at USD 531.31 million.

Key Companies Profiled:

  • ANDRITZ Group,
  • Baltur S.p.A,
  • Bloom Engineering,
  • Wood Group PLC (Foster Wheeler AG),
  • Honeywell International Inc. (Maxon),
  • Limpsfield Combustion Engineering Ltd,
  • Mitsubishi Hitachi Power Systems, Ltd (MHPS),
  • Oilon Group

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Key Segments Covered:

By Fuel Type:

  • Oil-based
  • Gas-based
  • Dual Fuel
  • Others

By Automation:

  • Monoblock
  • Duoblock

By Burner Type:

  • Regenerative Burner
  • High-velocity Burner
  • Thermal Radiation
  • Customized Burner
  • Flat flame Burner
  • Line Burner
  • Others

By Applications:

  • Boilers
  • Furnace/Oven/Kiln
  • Air Heating or Drying
  • Others

By Region:

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

Author:

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Liposomal Doxorubicin Market is anticipated to reach USD 2,367.5 Million, growing at a 6.3% CAGR By 2034 | FMI

Liposomal Doxorubicin Market
Liposomal Doxorubicin Market

The fight against cancer is bolstered by a growing Liposomal Doxorubicin Market, a powerful chemotherapy drug. According to a recent analysis, the market is estimated to reach a value of USD 2.367.5 million by 2034, reflecting a significant increase from USD 1,281.3 million in 2024. This translates to a steady growth rate of 6.3% over the next decade.

The anticipated growth in the sales of liposomal doxorubicin is influenced by pivotal factors, including the contemporary lifestyle characterized by fast-paced routines and unhealthy dietary habits, leading to a spectrum of health concerns over the forecasted period. Anticipated drivers set to propel the expansion of the liposomal doxorubicin market include the growing utilization of chemotherapy treatments, heightened demand for targeted therapy drugs, and augmented investments by private firms dedicated to addressing this specific application.

The formulation of liposomal doxorubicin, encapsulating the drug within liposomes, is designed to revolutionize drug delivery. Progress in drug delivery technologies plays a pivotal role in augmenting the drug’s effectiveness, minimizing adverse effects, and ultimately improving overall patient outcomes. Regulatory approvals for the use of liposomal doxorubicin in various cancer indications can significantly influence market growth. Expanding the approved indications broadens the potential patient population.

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Over the projected period, the liposomal doxorubicin market is poised for new growth opportunities driven by innovations and research and development endeavors. The anticipated expansion of healthcare infrastructure is projected to be a significant catalyst, fostering increased demand for liposomal doxorubicin in the coming years.

Key Takeaways from the Liposomal Doxorubicin Market:

  • From 2019 to 2023, the liposomal doxorubicin market was valued at a CAGR of 4.8%
  • Based on Type, the branded segment is expected to account for a share of 87.4% in 2023.
  • Global liposomal doxorubicin demand in the United States is predicted to account for a CAGR of 5.6% through 2034.
  • In the United Kingdom, the liposomal doxorubicin industry is expected to account for a CAGR of 6.4% between 2024 and 2034.
  • Germany is projected to expand by a value CAGR of 7.0% between 2024 and 2034.
  • By 2034, the liposomal doxorubicin market in Canada is anticipated to record a CAGR of 7.1% during the forecast period.

“The increasing demand for advanced and targeted chemotherapy options, particularly in the treatment of various cancers are anticipated to drive the market growth during the forecast period,” says a Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Which Segment is likely to Lead the Liposomal Doxorubicin Market by Application?

By application, the liver cancer segment consumes most of the liposomal doxorubicin market, which thrives on a CAGR of 4.8% between 2022 and 2032. Factors driving the high sales of this segment are the greater easy availability, high use of the drug in the treatment of liver cancer, high success rate, and rising effective use.

Liver cancer is also a growing cancer type among men and women, increasing the high health effects. Liposomal doxorubicin helps in the treatment and allows doctors to have better control over its quantity.

Liposomal Doxorubicin Market Competitive Landscape:

The competitive dynamics within the liposomal doxorubicin market, situated in the pharmaceutical industry, are characterized by constant evolution and significant capital investments. Companies actively engage in collaborations and mergers, reinforcing their market presence, broadening distribution channels, and expanding manufacturing capabilities.

  • GlaxoSmithKline plc is involved in the research and development of a variety of drugs, including those in the oncology space. GSK’s participation in the liposomal doxorubicin market reflects its commitment to advancing treatment options for cancer patients.
  • Sanofi is a global pharmaceutical company involved in the research, development, manufacturing, and marketing of various healthcare products. In the oncology sector, Sanofi may contribute to the liposomal doxorubicin market with a focus on therapeutic innovations.

Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global liposomal doxorubicin market, providing historical data from 2019 to 2023 and forecast statistics between 2024 and 2034.

To understand opportunities in the liposomal doxorubicin market, the report is segmented based on type (Branded, Generic) By Application (Breast Cancer, Ovarian Cancer, AIDS-related Kaposi’s Sarcoma, Multiple Myeloma, Other Solid Tumors) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Mail-Order Pharmacies) Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, the Middle East, and Africa).

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What are the Key Dynamics Governing the Growth of the Liposomal Doxorubicin Market?

The demand for liposomal doxorubicin is high as it is a medicine used to treat cancer, Kaposi Sarcoma, and a variety of other diseases. The global liposomal doxorubicin market share is expected to grow due to rising cancer incidence, the development of technologically sophisticated drug delivery methods, increased patient awareness, and rising disposable incomes.

Following the failure of prior systemic chemotherapy for ovarian cancer and AIDS-related Kaposi’s sarcoma, the sales of liposomal doxorubicin are expected to rise dramatically. Another factor driving the demand for liposomal doxorubicin is the rising number of cases of hepatocellular carcinoma and rising survival rates.

The liposomal doxorubicin market size is growing as people become more aware of the various cancer treatment options available. Innovations enable site-specific drug delivery and regulated drug release in the body.

Other factors expected to fuel the sales of liposomal doxorubicin include considerable improvements in healthcare infrastructure, particularly in developing economies, as well as extensive research and development (R&D) initiatives in the field of oncology.

The FDA approved a generic version of liposomal doxorubicin formulation for second-line treatment of ovarian cancer and chemotherapy routine for various cancers to address the lack of branded liposomal doxorubicin, such as Doxil or Caelyx. This factor had a significant impact on the sales of liposomal doxorubicin.

In addition, in the USA, which is the largest market for liposomal doxorubicin formulation, the import of the medicine was permitted under exercise enforcement discretion. The rising demand for liposomal doxorubicin has resulted in a significant increase in the importation of doxorubicin HCl liposome injections, which is projected to propel the liposomal doxorubicin market size forward

Key players operating in the Liposomal Doxorubicin Market are:

  • Cadila Pharmaceuticals
  • Cipla Limited
  • GlaxoSmithKline plc.
  • Johnson & Johnson Services Inc.
  • Merck & Co.
  • Pfizer Inc.
  • Sanofi
  • Sigma-Aldrich Co.
  • SRS Pharmaceuticals Pvt. Ltd.
  • Sun Pharmaceutical Industries Ltd.

Liposomal Doxorubicin Market – Key Segments

By Type:

  • Branded
  • Generic

By Application:

  • Breast Cancer
  • Ovarian Cancer
  • AIDS-related Kaposi’s Sarcoma
  • Multiple Myeloma
  • Other Solid Tumors

By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Mail-Order Pharmacies

By Region:

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

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Author

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

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in 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.

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
LinkedIn| Twitter| Blogs | YouTube