Global Pain Management Device Market to Reach USD 5.68 Billion by 2032, Reports Future Market Insights

The global pain management device market is set to achieve substantial growth, reaching a valuation exceeding USD 5.68 billion by the end of 2032, as per the latest report from Future Market Insights (FMI). The market is projected to advance at a robust CAGR of 9% during the forecast period spanning 2022 to 2032.

The rising costs associated with hospitalization have spurred a significant demand for cost-effective healthcare solutions, leading to a notable shift towards pain management devices. These devices offer effective pain relief solutions while reducing the need for prolonged hospital stays, thereby contributing significantly to the market’s expansion.

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According to the NCBI, over 51 million inpatient surgical procedures are performed in the United States alone each year, with approximately 90 per cent of all hospitalized patients receiving medications via IV. So, the sales of pain management devices such as infusion therapy spikes as the number of surgeries performed rises. Other factors that contribute to the market’s growth include an increase in demand for pain management devices in developing countries and a rise in the adoption of pain management devices to treat chronic pain.

In addition, during the forecast period, developing economies’ untapped potential presents lucrative pain management devices market opportunities. Pain management device market trends are expected to be shaped by technological advancements such as wearable pain management devices. Hypersensitivity reactions and postoperative infections caused by the use of these chronic pain relief devices, on the other hand, negatively impact the pain management devices adoption trends.

Furthermore, these pain relief devices are typically used as a second-line treatment in patients with chronic pain who have become resistant to drug therapy, making the outlook for pain management devices market future trends highly uncertain. Taking into consideration all the mentioned factors, the pain management devices market size is predicted to be valued at USD 3.3 Billion by 2026.

Key Takeaways:

  • By application, neuropathic pain is expected to lead the market, owing to technological advancements in pain management machines and a surge in demand for pain management devices for the management of neuropathic pain.
  • The neuromodulation and neurostimulation devices segment is anticipated to come to the fore by-product because of the cost efficiency offered by these pain relief equipment and an increase in the target population.
  • Whereas, Radiofrequency ablation is expected to grow the fastest during the forecast period by-product due to its widespread use in pain management, surgical oncology, gynaecology & cardiac rhythm management, and cosmetology.
  • During the forecast period, the Asia Pacific market is expected to grow at the fastest CAGR, and this expansion can be attributed to R&D investments in the development of technologically advanced healthcare treatment options.

“North America has been a pioneer in the development of pain management devices and services in the healthcare industry. The United States market is expected to elicit several emerging trends in the pain management devices market in the near future, owing to the increasing incorporation of the best pain relief devices in ambulatory care centres and many major global players are also based in the United States, which has resulted in the country becoming a centre of innovation in the pain management device market.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).

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Competitive Landscape:

Medtronic is a significant global pain management devices market player. Medtronic is expected to maintain its market leadership due to its diverse product portfolio, strong distribution network, and strategic marketing policies. This company, along with Boston Scientific Corporation, currently controls the majority of the global market.

LivaNova, Abbott, Nevro Corp, and SPR Therapeutics are some of the other significant pain management medical device companies.

To strengthen their market position and pain management devices market share, the key companies have undertaken a number of strategic initiatives, including technological innovation, partnership, regional expansion, and mergers and acquisitions.

Some recent developments in the pain management devices market are as follows:

  • Smiths Medical has released version 4.2 of the CADD-Solis ambulatory infusion pump. This new version of the wireless bi-directional communication pump will aid in the integration of pain management data with the patient’s EMR records.
  • Boston Scientific has announced the release of Wave Writer Alpha, a Spinal Cord Stimulator (SCS) system designed to address pain management challenges. The SSC portfolio includes conditional devices that provide Fast Acting Sub-Perception Therapy (FAST), which is designed to provide pain relief in minutes.
  • Hinge Health, a Digital Musculoskeletal Clinic, announced the acquisition of the developer of Enso, a clinically validated non-invasive technology that aids people suffering from musculoskeletal pain. This merger of Hinge Health’s Digital MSK Clinic and Enso’s technology ushers in a new pain management devices era.

Key companies profiled:

Abbott Corporation (USA), Medtronic PLC (Ireland), Boston Scientific Corporation (USA), Stryker Corporation (USA), Becton, Dickinson and Company (USA), Baxter International (USA), Nipro Corporation (Japan), B. Braun Melsungen AG (Germany), Smiths Medical Corporation (USA), Moog Inc. (USA), Avanos Medical, Inc. (USA), Atricure Corporation (USA), Nevro Corporation (USA), and Micrel Medical Devices.

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Key Segments:

By Type:

  • Neurostimulation Devices
  • Infusion Pumps
  • Ablation Devices

By Application:

  • Neuropathic Pain
  • Musculoskeletal Pain
  • Cancer Pain
  • Facial Pain & Migraine
  • Other Applications

By Mode of Purchase:

  • Prescription
  • Over-the-counter

By Region:

  • North America
  • Europe
  • Asia
  • Latin America
  • Middle East & Africa

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Veterinary Pain Management Drugs Market Share: The market for Veterinary Pain Management Drugs was worth USD 1.37 billion in 2022 and is predicted to be worth USD 2.79 billion by 2032, growing at a 7.2% CAGR from 2022 to 2032.

Lumbosacral Radicular Pain Management Market Growth: The global Lumbosacral Radicular Pain Management Market is expected to garner a market value of USD 0.9 Billion in 2023 and is expected to accumulate a market value of USD 1.4 Billion by registering a CAGR of 5% in the forecast period 2023 to 2033.

Heart Pump Device Market Trends: The global heart pump device market is expected to rise from USD 4.0 billion in 2024 to USD 25.4 billion by 2034. By 2034, the market is projected to surge at 20.4% CAGR.

CRISPR Market Outlook: The CRISPR market had an estimated market share worth USD 3.4 billion in 2023, and it is predicted to reach a global market valuation of USD 17.8 billion by 2034, growing at a CAGR of 16.1% from 2024 to 2034.

Biomedical Refrigerator and Freezer Market Overview: The global biomedical refrigerator and freezer market is anticipated to be worth USD 6,053.8 million by 2034. According to the estimates, the market is projected to clock a 5.60% CAGR until 2034. In 2024, the biomedical refrigerator and freezer market size is valued at USD 3,510.65 million.

Ophthalmic Surgical Market Demand: The global ophthalmic surgical market is expected to grow at a CAGR of 5.7% from 2024 to 2034. The market value is projected to increase from USD 13,937.8 million in 2024 to USD 24,194.2 million by 2034.

Ultrasound Market Development: The ultrasound market is set to be valued at USD 11.70 billion in 2024 and is projected to reach USD 20.40 billion by 2034, exhibiting a modest CAGR of 5.80% over the forecast period.

Synthetic Biology Market Opportunity: The synthetic biology market is expected to rise from USD 3.75 billion in 2024 to USD 31.73 billion by 2034, growing at a lucrative 23.8% CAGR over the forecast period.

Cardiology Information System Market Forecast: The cardiology information system market is estimated to be valued at USD 1.3 billion in 2024. The cardiology information system is predicted to rise at a CAGR of 9.7% from 2024 to 2034. The global cardiology information system market is anticipated to reach USD 3.7 billion by 2034.

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Anticipated Growth: Amino Resin Industry Aims for USD 19.3 Billion Valuation by 2032, with a CAGR of 6.1% | FMI Reports

amino resin market

The global amino resin industry is projected to reach a substantial valuation of USD 19.3 billion by 2032, showcasing a significant Compound Annual Growth Rate (CAGR) of 6.1% throughout the forecast period. Currently, the market is valued at USD 10.75 billion.

In response to the challenges facing the amino resin market, particularly concerning their environmental impact, companies in the industry are actively engaged in research and development initiatives.

For example, Arkoma has prioritized enhancing the global capacity of bio-based polyamide 11, with plans to increase capacity by at least 50% at its Singapore plant by November 2021.

Furthermore, Arkoma’s Changshu platform in China houses a facility dedicated to manufacturing polyamide 11 powders. Construction for expanding this unit is expected to commence in the first quarter of 2023. These strategic investments by Arkoma aim to meet growing demand in Asia for advanced bio-circular materials from end customers.

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Market Overview

Amino resins are synthesized through the copolymerization of amino acids with an aldehyde. They are broadly categorized into urea formaldehyde, melamine formaldehyde, and melamine urea formaldehyde based on their product types. Known for their thermosetting properties, amino resins boast excellent tensile strength, resistance, and hardness.

Primarily utilized as molding materials, amino resins augment the properties of base materials such as coating hardness and solvent resistance when combined with alkyd resins, polyester resins, epoxy ester resins, and acrylic resins. In the wood panel industry, amino resins serve as crucial adhesives for products like plywood, MDF, and particleboard.

The global demand for amino resins is closely tied to the construction sector and the overall economic health of regions. The exceptional performance of amino resins in enhancing the strength and resistance of wood panels is anticipated to propel market growth in the coming years. Furthermore, the increasing utilization of amino resins in the automotive sector, particularly in paints and coatings, is poised to fuel market expansion.

As the automotive industry grows, so does the demand for amino resins. Predominantly, amino resins are used in manufacturing laminates, which find extensive applications in construction and furniture industries.

However, stringent government regulations pertaining to formaldehyde emissions pose a significant challenge, hindering market growth. Particularly in the U.S., where regulations are stringent, the amino resins market is expected to witness sluggish growth. Despite these challenges, amino resins are finding novel applications in sectors such as electrical, household appliances, and sanitary ware.

Top Key Players

  • BASF SE,
  • Chemiplastica Spa,
  • Advachem S.A.,
  • Georgia-Pacific Llc,
  • INEOSMelaminesGmbh and Jiangsu Sanmu Group Co. Ltd.,
  • among others.

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Market Segmentations 

By Regional Analysis

  • North America
  • US & Canada
  • Latin America
  • Brazil, Mexico, Others
  • Western Europe
  • EU5
  • Nordics
  • Benelux
  • Eastern Europe
  • Asia Pacific

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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Global Extracorporeal Membrane Oxygenation Machine Market Poised for Remarkable Growth, Projected to Reach USD 908 Billion by 2032

The global extracorporeal membrane oxygenation machine market is on an upward trajectory, set to achieve a staggering market size of USD 908 billion by 2032. This remarkable growth, fueled by a rising prevalence of chronic diseases and increasing demand for organ transplants, presents a significant opportunity for the medical technology sector.

According to industry analysts, the extracorporeal membrane oxygenation machine market exhibited a steady Compound Annual Growth Rate (CAGR) of 5% from 2022 to 2032. In 2022 alone, the market size reached USD 531 million, marking the beginning of a surge attributed to the growing need for advanced medical technologies such as extracorporeal membrane oxygenation machines. These devices are pivotal in providing critical cardiac and respiratory support to patients battling severe heart or lung failure.

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“The exponential expansion of the global extracorporeal membrane oxygenation machine market underscores its vital role in modern healthcare, where advanced life support technologies are increasingly indispensable,” said FMI. “As the prevalence of chronic diseases rises and the demand for organ transplants grows, extracorporeal membrane oxygenation machines stand at the forefront of medical innovation, offering life-saving solutions to patients in critical conditions.”

Extracorporeal membrane oxygenation machines function by temporarily taking over the work of the heart and lungs, providing oxygenation and removing carbon dioxide from the blood. This capability is crucial in treating patients with severe respiratory or cardiac failure, including those awaiting organ transplants or recovering from complex surgeries.

The market’s growth is further bolstered by advancements in technology, enhancing the efficiency and reliability of extracorporeal membrane oxygenation machines while reducing associated risks. As healthcare providers worldwide continue to prioritize patient outcomes and invest in cutting-edge medical equipment, the demand for extracorporeal membrane oxygenation machines is expected to escalate significantly.

Key Takeaways:

  • By application, high demand for early diagnosis and diagnostic imaging, and technological advancements in the extracorporeal membrane oxygenation machine market are expected to propel the respiratory segment to the top.
  • The arterio-venous segment is likely to hold the majority of the market based on modality owing to the benefits associated with this technology segment, such as effective dynamic range, thereby boosting the ECMO systems market growth.
  • Based on patient type, the adult segment is projected to lead the market as the global burden of cardiac and respiratory diseases in adults is rising due to increased consumption of alcohol, tobacco, smoking, and a sedentary lifestyle.

Because of the presence of major players and the rising number of product launches, government support for high-quality healthcare, which is also seen as one of the key trends in the ECMO systems market, and the rising prevalence of diseases in the United States and Canada, such as chronic obstructive pulmonary disease, which increases hospital admission and is favoured by reimbursement policies, the North American market is anticipated to lead the ECMO systems market. An FMI analyst claims.

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Competitive Landscape: 

  • Medtronic plc (USA),
  • Fresenius Medical Care A.G. & Co. KGAA (Germany),
  • Getinge Group (Sweden),
  • Microport (China),
  • Origin Biomedical (USA),
  • Terumo Cardiovascular Systems Corporation,
  • Livanova plc (United Kingdom),
  • Nipro Corporation (Japan),
  • Euro sets S.R.L. (Italy),
  • Cytosorbents Corporation (Australia),
  • Abiomed

Major global players produce the majority of ECMO support systems. Market leaders have established their position by investing more in research and having a better distribution system.

To stay competitive in the market, extracorporeal membrane oxygenation machines manufacturers are actively involved in product launches and technological innovation.

  • ALung Technologies, Inc. has begun commercialization of its ground-breaking next-generation artificial lung. The device is based on University of Pittsburgh intellectual property licensed to ALung Technologies, Inc.
  • Medtronic has released its artificial lung therapy for the treatment of COVID-19. An artificial pump that pumps blood from a person’s body to an oxygenator is called ECMO, and it also has an FDA-approved device for ECMO procedures lasting up to 6 hours.

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Key Segments:

By Product:

  • ECMO Machines
    • Portable Devices
    • Static Devices
  • Software

By Service Type:

  • Application
  • Middleware
  • Infrastructure

By Component:

  • Pumps
  • Oxygenators
  • Controllers
  • Cannul
  • Assessories

By Modality:

  • Veno-Venous
  • Veno-Arterials
  • Arterio-Venous

By Patient Type:

  • Neonates
  • Pediatrics
  • Adults

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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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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Anticipated Growth: Agricultural Gloves Industry Aims for USD 35.08 Billion Valuation by 2032, with a CAGR of 4.6% | FMI Reports

agricultural gloves market

In 2022, the agricultural gloves industry reached a valuation of USD 22.37 billion. Forecasts indicate that by 2032, the market is expected to expand to USD 35.08 billion, with a compound annual growth rate (CAGR) of 4.6% throughout the forecast period.

Several factors are fueling the growth of the agricultural gloves market:

  • Increasing awareness of the hazards associated with handling harmful chemicals is driving global demand for agricultural gloves. As awareness grows about the importance of protective gear in agricultural practices, the market for agricultural gloves is expected to experience significant growth.
  • Positive regulatory guidelines aimed at reducing occupational risks across various sectors, including agriculture, are anticipated to bolster market growth. These regulations prioritize the safety of workers, thereby encouraging the adoption of protective equipment such as agricultural gloves.
  • It is important to note, however, that latex, a commonly used material in agricultural gloves, has been linked to skin irritation, redness, and rashes in some individuals. This factor may potentially hinder market growth over the forecast period as consumers seek alternative materials that offer protection without causing skin sensitivities.

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Market Overview

Agricultural gloves serve as essential protective gear for farmers engaged in various tasks within agricultural settings, shielding their hands from chemicals, pesticides, and physical hazards prevalent in the field.

Farmers perform a range of activities on agricultural farms, including the handling and distribution of chemicals and pesticides, pruning branches, harvesting crops, and horticulture. These tasks expose them to risks such as abrasions, stings, cold conditions, and cuts. Agricultural gloves play a crucial role in safeguarding farmers against thermal, mechanical, and chemical hazards encountered during their work.

The growth of the agricultural industry worldwide is a key driver for the agricultural gloves market. Additionally, increased awareness of health and safety measures, along with regulatory requirements mandating the use of protective equipment when handling toxic chemicals, has contributed significantly to market growth.

Agricultural gloves are typically crafted from materials such as latex, rubber, leather, or cotton, tailored to suit specific applications. For instance, latex gloves are commonly used for general agricultural purposes and are often disposable. Meanwhile, chemical-resistant gloves are essential for farmers during the handling and spraying of pesticides that pose risks to human skin.

In scenarios involving potential biological hazards from chemicals, it is recommended to wear two pairs of gloves for added protection. The usage of agricultural gloves has seen a steady rise over the years, driven by increasingly stringent safety standards and heightened awareness among the agricultural community, particularly in Western countries.

Top Key Players

  • Fujian Nanan Jinxing Gloves Co., Ltd.,
  • Ansell Healthcare Europe,
  • Nano Meter Industrial,
  • Superior Glove
  • among many others.

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Market Segmentations

By Regional Analysis

  • North America
  • US & Canada
  • Latin America
  • Brazil, Mexico, Others
  • Western Europe
  • EU5
  • Nordics
  • Benelux
  • Eastern Europe
  • Asia Pacific
  • Australia and New Zealand (ANZ)

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.
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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Enterprise Data Management Market is Expected to Reach a High Valuation of USD 208.9 Billion by 2032 | FMI

The global enterprise data management market is anticipated to increase and reach USD 208.9 billion by 2032, with a CAGR of 8.4%, as a result of the increasing adoption of Internet of Things (IoT) devices. The market is predicted to generate USD 93.5 billion in 2022, a 1.1x increase from USD 85.4 billion in revenue in 2021.

In addition, the growing inclination of organizations towards data integration is anticipated to fuel the demand for enterprise data management in the forecast period. Organizations are adopting various data integration tools that would enhance digital transformation. Furthermore, the emergence of the Industrial Internet of Things (IIoT) is likely to benefit the industry in the assessment period.

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According to Analytics Insight Report 2020, with the rising popularity of IIoT, the demand for data integration has increased considerably. On the contrary, increasing concerns about data security are likely to hamper the market growth in the forecast period. However, rising demand for risk management and software among organizations is expected to act as a significant counter to the impeding cause and expand the market reach.

Key Takeaways from the Enterprise Data Management Market Report:

  • The market in the U.S to hold a market value of USD 72.8 Billion by 2032
  • The industry in the U.S to record a CAGR of 8.1% in the forecast period
  • By deployment type, the cloud segment to record a CAGR of 7.7% from 2022- to 2032
  • Market in Japan to garner USD 11.8 Billion by 2032
  • South Korean market to expand at a CAGR of 6% in the assessment period
  • UK industry to flourish at a growth rate of 7.4% from 2022- to 2032

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Competitive Analysis:

Key players in the global enterprise data management market include SAS Institute Inc., IBM Corporation, Oracle Corporation, Teradata Corporation, and SAP SE, among others. Recent developments in the industry are:

  • In July 2021, Informatica, a data integrity software solution provider, launched Intelligent Data Management Cloud on Azure for APAC. The system is an end-to-end AI-powered cloud platform providing accessibility on Microsoft Azure for APAC and SE Asia.
  • In December 2021, IQGeo, a renowned developer of geospatial productivity and collaboration software, launched Network Manager Electric and Network Manager Gas software solutions. The software aims to offer efficient workflow solutions to electric and gas network operators.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global enterprise data management market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

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Enterprise Data Management Market Segmentation:

By Component:

Software

  • Data Security
  • Master Data Management
  • Data Integration
  • Data Migration

Services

  • Managed Services
  • Professional Services

By Deployment Mode:

  • Cloud-based Enterprise Data Management
  • On-Premises Enterprise Data Management

By Organization Size:

  • Enterprise Data Management for Small and Medium-Sized Enterprises
  • Enterprise Data Management for Large Enterprises

By Industrial Vertical:

  • Enterprise Data Management for Healthcare and Life Sciences
  • Enterprise Data Management for BFSI
  • Enterprise Data Management for IT
  • Enterprise Data Management for Retail and Consumer Goods
  • Enterprise Data Management for Media and Entertainment
  • Enterprise Data Management for Manufacturing
  • Enterprise Data Management for Energy and Utilities
  • Enterprise Data Management for Transportation and Logistics
  • Enterprise Data Management for Government and Defense
  • Enterprise Data Management for Other Industrial Verticals

By Region:

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

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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Craft Soda Market Outlook Projected to Reach USD 1,200.8 Million by 2034 with CAGR of 4.90%

The global craft soda market value is expected to rise from USD 742.8 million in 2024 to USD 1,200.8 million by 2034. The market is expected to rise at a CAGR of 4.9% through 2034.

Increasing consumption of craft sodas, which are often pitched as fit for every beverage occasion, is driving growth in the market. Purchasing decisions regarding craft soda are driven by ratings and reviews left on eCommerce or brand websites by product users. As a result, players are focusing on enhancing taste profiles and increasing product accessibility to elevate customer experience.

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Players are also allocating a portion of their budgets to eye-catching distinctive packaging as exterior covering markets the contents inside. Some participants are also offering product customization options, celebrating the values, cultures, and languages of the markets they are entering. This is done to increase their acceptability in different markets.

Different consumption patterns of the younger generation are also elevating sales of craft sodas. This target population prefers exciting new flavored craft sodas, exhibiting a drift away from mass-produced, manufactured spirits.

Key Takeaways from the Craft Soda Market Report

  • The United Kingdom craft soda market is expected to expand at a CAGR of 5.2% through 2034. Meanwhile, the market in Germany is anticipated to register a CAGR of 4.5%.
  • The United States market is forecasted to display a growth rate of 3.7% through 2034.
  • In Asia Pacific, the markets in India and China exhibit CAGRs of 4.7% and 4.2%, respectively, through 2034.
  • The B2C distribution channel is anticipated to hold a market share of 72.4% in 2024.
  • Cola flavor is projected to account for a massive share of 38.40% in 2024.

Strategic Developments in the Craft Soda Market

Recognized leading players are leading the market on the back of expanding brand-loyal customers. However, these players are expected to rely on product innovation in craft soda as consumers show a higher preference for new, flavorful beverages.

The emerging trend of premiumization is projected to impact both new and old players as consumers show a willingness to pay higher prices for beverages infused with original flavors. Market participants are expected to expand into different product categories, like energy drinks and fruit juices. This is in response to the robust consumption levels of these beverages.

Besides product innovation and premiumization, players are expected to employ various strategies to expand their reach. These strategies include mergers, acquisitions, and geographical expeditions.

New Developments in the Craft Soda Market

  • In October 2023, Jones Soda Co. announced a new special edition called Orange Chocolate Soda. The product is going to be available at retail outlets across the United States.
  • In November 2021, Dayton’s brand Rock, Paper, Soda made its debut. This development is in response to growing consumer interest in non-alcoholic options. The brand made its debut with Orange Winter Chai, which is a gourmet spin on classic orange soda.
  • In January 2021, Jones Soda introduced 12-packs and special flavors.

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Key Players Operating in the Craft Soda Market

  • Jones Soda Co.
  • Appalachian Brewing Co.
  • Reed’s Inc.
  • PepsiCo, Inc.
  • The Original Craft Soda Company
  • The Coca-Cola Company
  • Crooked Beverage Co.
  • SIPP eco beverage co. Inc.
  • Boylan Bottling Co.
  • Wild Poppy Company
  • Others

Key Segments in the Global Craft Soda Market Report

By Flavor:

  • Cola
  • Tropical Fruits
  • Berries
  • Others

By Packaging:

  • Glass
  • Cans
  • Plastic
  • Others

By Distribution Channel:

  • On-Trade
  • Off-Trade
  • B2C

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and 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 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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Anticipated Growth: Ink Additives Industry Targets USD 3.49 Billion Valuation by 2032, with a CAGR of 5.2% | FMI Reports

Ink Additives Market

The ink additives industry is expected to grow steadily with a Compound Annual Growth Rate (CAGR) of 5.2% until 2032. Starting from a value of USD 1.9 billion in 2022, it is anticipated to reach USD 3.49 billion by 2032.

The market’s expansion is driven by the burgeoning e-commerce sector, which has generated increased demand for corrugated boxes. Additionally, consumer preference for flexible packaging is on the rise, supported by the introduction of various additives that enhance product appeal and functionality.

Moreover, the growing adoption of recyclable products is positively influencing market dynamics. Recyclable flexible packaging containers contribute to waste reduction and promote sustainability efforts. Ink additives play a crucial role in enhancing the visual appeal and maintaining image quality of flexible packaging, ensuring performance throughout manufacturing, packaging, transport, and use stages.

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Research efforts and product innovations are anticipated to drive market growth in the forthcoming years. However, the proliferation of digitization poses a challenge, as it facilitates easy access to e-books online at low costs, potentially impeding market growth.

Moreover, the market is predominantly dominated by two major technologies: water-based and solvent-based. Due to regulations concerning VOC emissions, there is a notable shift from solvent-based to water-based technology, thereby propelling the growth of the water-based segment in the market.

Furthermore, the market is anticipated to face challenges from sectors such as e-tickets, sporting goods, electronics, and toys, which may impede growth over the forecast period. For instance, dispersing agents play a crucial role in formulating inks to achieve the desired color combinations.

While the global printing ink additives market is poised for growth, factors such as fluctuations in raw material supplies and stringent environmental regulations on chemical additives are likely to restrain market expansion.

Forecasts suggest that Asia Pacific will witness an increase in its market share in ink additives during the forecast period. Emerging economies like Japan and China are experiencing a surge in demand for ink additives, driven by the growth of the commercial printing and packaging industries. Additionally, South Korea and India present promising growth opportunities for the market in the region.

In Europe, growth in the ink additives market is expected to be propelled by the increasing demand from digital printing markets. Countries such as Germany, France, and the U.K. hold significant shares of the market. Meanwhile, in North America, the U.S. is expected to drive market growth due to the rising demand for additives for ink pigments in developed countries.

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Top Key Players

  •  Evonik TEGO,
  • BASF SE,
  • HUNTSMAN,
  • Dow Corning,
  • Air Products and Chemicals Inc.,
  • Shamrock Technologies, Inc.

Market Segmentations

By Regional Analysis

  • North America
  • Latin America
  • Asia Pacific
  • Japan
  • Western Europe
  • Eastern  Europe
  • 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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Future Market Insights Inc.
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Synthetic Lubricants and Functional Fluids Industry Poised to Reach USD 13.88 Billion by 2032, with a CAGR of 5.80% | FMI Reports

synthetic lubricants and functional fluids

The synthetic lubricants and functional fluids industry, valued at USD 7.90 billion in 2022, is projected to grow at a robust Compound Annual Growth Rate (CAGR) of 5.80% to reach USD 13.88 billion by 2032.

Recent years have seen significant growth in the synthetic lubricants market, primarily fueled by increasing demand from the automotive sector. The substitution of petroleum-refined oils with synthetic lubricants for high-temperature applications presents lucrative opportunities for global market players.

Expansion in the global market for synthetic lubricants and functional fluids is also driven by heightened demand for high-performance products and stricter environmental regulations.

Furthermore, investments in newer base stock capacities globally have led to increased availability of high-quality base stocks, further boosting market growth. Original equipment manufacturers (OEMs) are increasingly endorsing high-performance synthetic products, supported by the growing supply of synthetic lubricants and functional fluids and the adoption of global specifications.

The superior performance characteristics of synthetic lubricants, such as low friction, high-temperature stability, and enhanced load-carrying capacity compared to conventional oils, are key factors driving the market’s expansion.

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Global Synthetic Lubricants and Functional Fluids Market: Drivers

The global synthetic lubricants and functional fluids market is experiencing significant growth driven by the demand for high-performance products and increasingly stringent environmental regulations.

Investments in newer base stock capacities worldwide are leading to the availability of high-quality base stocks, further fueling the growth of the market.

Original equipment manufacturers (OEMs) are increasingly endorsing the use of high-performance synthetic products due to the expanding supply of synthetic lubricants and functional fluids and the shift towards global specifications.

Synthetic lubricants and functional fluids are favored for their ability to reduce maintenance time and downtime costs by extending drain intervals.

Moreover, the superior performance of synthetic lubricants, including low friction, high-temperature performance, and higher load-carrying capacity compared to conventional counterparts, is driving market growth.

The automotive and industrial segments in the Asia-Pacific region are witnessing a surge in demand, contributing to the overall growth of the global synthetic lubricants and functional fluids market.

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Top Key Players 

  • Exxon Mobil,
  • Prestone Products,
  • Royal Dutch Shell,
  • AMSOIL Incorporated,
  • Ashland Incorporated,
  • Autoparts Holdings Limited,
  • BASF SE,
  • Calumet Specialty Products Partners LP,
  • Berkshire Hathaway Incorporated,
  • P plc, Chemtura Corporation,

Regional analysis for Synthetic Lubricants and Functional Fluids Market includes

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • Japan
  • Middle East and 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.

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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Future Growth: Nanoscale Chemicals Industry Anticipates USD 11.84 Billion by 2032, with a CAGR of 9% | FMI Reports

nanoscale chemicals market

The global nanoscale chemicals industry is expected to reach USD 11.84 billion by 2032, reflecting a projected Compound Annual Growth Rate (CAGR) of 9%. In 2022, the market was valued at USD 5 billion.

The demand for cutting-edge and technologically advanced products, particularly in the electrical and electronics industry, is poised to drive the sales of nanoscale chemicals in the coming years. Nanoscale electronics are renowned for their ability to enhance system efficiency, thereby fueling market expansion.

Additionally, rapid urbanization and ongoing technological advancements are anticipated to bolster the demand for nanoscale chemicals across various sectors.

The thriving global construction sector is another significant driver expected to contribute to the adoption of nanoscale chemicals. These chemicals play a crucial role in improving the material properties used in construction activities, ultimately enhancing overall construction quality.

Moreover, nanoscale chemicals are increasingly finding applications in the manufacturing sector. Notable innovations, such as the development of 2D molecules capable of spontaneously assembling nanoribbons stronger than steel by the Department of Material Science and Engineering (DMSE) at MIT, underscore the potential of nanoscale manufacturing processes to produce robust products.

In summary, the nanoscale chemicals market is poised for substantial growth driven by advancements in technology, expanding applications across industries, and the continuous quest for innovative solutions in materials science and engineering.

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Nanoscale Chemicals Market: Drivers and Challenges

Over the forecast period, the global economy is poised for gradual improvement, accompanied by an expected increase in per capita income. This economic upturn is anticipated to drive demand for innovative and technologically advanced products, particularly in the electronic and electric industry, consequently fueling the global nanoscale chemicals market.

Changing consumer preferences worldwide have led to a surge in demand for nanoscale materials and products, especially in the electronics sector. As the usage of nanoscale electronic and electrical devices rises, so does the demand for nanoscale chemicals and materials.

The growing population, particularly in urban areas, is a significant factor contributing to the expansion of the global nanoscale chemicals market. With rapid urbanization projected to continue, especially as the urban population is expected to reach 66% by 2050 according to the United Nations, the demand for nanoscale chemicals is set to soar.

Furthermore, the construction industry is anticipated to drive growth in the nanoscale materials market. Nanoscale materials are extensively utilized in construction to enhance material properties and conserve energy during construction activities.

Moreover, nanoscale materials play a crucial role in the medical industry, where their expected growth is likely to further propel the global nanoscale chemicals market during the forecast period.

However, despite their increasing importance in developed economies, there remains low awareness of nanoscale materials/chemicals in underdeveloped or developing countries, posing a challenge to the growth of the global nanoscale chemicals market.

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Top Key Players

  • Qinhuangdao Taiji Ring Nano-Products Co., Ltd.,
  • NanoMas Technologies,
  • Akzo Nobel/Eka,
  • BASF,
  • Tokuyama,
  • Nanophase technologies,
  • Altair Nanotechnologies,
  • Carbon Nanotechnologies and Advanced Nano Products.

Nanoscale Chemicals Market: Segmentation

Based on end-use industry type, 

  • Automotive
  • Electronics
  • Electrical
  • Medical
  • Others

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.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Global Gastrointestinal Stents Market Set to Soar, Reaching USD 815.34 Million by 2033

The global gastrointestinal stents market is experiencing unprecedented growth, propelled by technological advancements and expanding treatment options. Recent industry analysis forecasts the market to surge to USD 815.34 million by 2033, marking a significant increase from USD 476.72 million recorded in 2023. This robust growth is anticipated to be driven by a compound annual growth rate (CAGR) of 5.51% over the next decade.

The rise of gastrointestinal stents underscores their critical role in modern healthcare, offering enhanced solutions for patients and healthcare providers alike. Innovations in medical technology have spurred the development of more efficient and effective stent devices, revolutionizing treatment outcomes across the globe. These advancements not only improve patient care but also broaden the scope of therapeutic options available in gastrointestinal interventions.

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Furthermore, the aging global population is contributing to the increased prevalence of gastrointestinal disorders. Conditions such as obstructions, strictures, and cancers are becoming more common, necessitating the use of gastrointestinal stents for effective treatment. As a result, these medical devices are playing an increasingly crucial role in addressing a wide range of gastrointestinal conditions.

The growing demand for gastrointestinal stents underscores their significance in modern healthcare. These devices provide minimally invasive solutions for complex gastrointestinal issues, offering patients a better quality of life and improved treatment outcomes. As the prevalence of gastrointestinal disorders continues to rise, the importance of gastrointestinal stents in medical practice is expected to further escalate.

Industry experts anticipate that the global gastrointestinal stent market will continue on its upward trajectory, driven by ongoing technological advancements and demographic trends. With an increasing focus on patient-centric care and the adoption of minimally invasive procedures, gastrointestinal stents are poised to remain indispensable tools in the arsenal of healthcare providers worldwide.

Key Takeaways:

  • Due to the increasing prevalence of chronic liver disease and the increase in the number of surgical procedures for the treatment of biliary diseases, the biliary stents segment is likely to account for the largest gastrointestinal stents market share as per the product type.
  • Based on material, self-expanding metal stents are expected to lead the market. The same can be credited to benefits such as ease of insertion, a lower possibility of dislodgment or migration, and longer patency.
  • During the forecast period, the gastrointestinal cancers segment is anticipated to have the highest CAGR attributed to the increased prevalence and incidence, thereby positively impacting the gastrointestinal stents market trends.
  • The hospitals and clinics segment will be at the forefront of the market, owing to many endoscopic retrograde cholangiopancreatographies (ERCP) and percutaneous transhepatic cholangiography (PTC) procedures performed in hospitals for various disease indications.

“In terms of market share and revenue, North America is predicted to dominate the gastrointestinal/GI stent market and will maintain its dominance throughout the forecast period on account of a sophisticated level of healthcare facilities, a rising geriatric population, high incidence of gastrointestinal diseases, favorable reimbursement scenario, and presence of key market players such as C.R. Bard (US), and Becton, Boston Scientific Corporation (US), Dickinson and Company.” opines an FMI researcher.

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Competitive Landscape:

Among the prominent players in the GI, stents market are

  • Boston Scientific Corporation
  • Hobbs Medical Inc.
  • Taewoong Medical
  • Micro–Tech (Nanjing) Co., Ltd.
  • Olympus Corporation
  • Merit Medical Systems
  • Qualimed
  • Medtronic
  • Conmed Corporation
  • Terumo Corporation
  • Johnson & Johnson Services, Inc.,

The gastrointestinal stent market is moderately competitive, with numerous gastrointestinal stents market opportunities. In addition, the increasing prevalence of diseases associated with gastrointestinal tract stent placement is driving up demand for gastrointestinal stents.

As a result, several global corporations are implementing various strategies to reach out to emerging economies such as product launches, mergers, acquisitions, partnerships, collaborations, etc.

Some of the recent developments in the gastrointestinal stents market are:

  • Cook Medical worked with Taewoong Medical to expand patient treatment options by distributing a variety of Taewoong’s stents in the United States. The Niti-STM Through the Scope (TTS) Esophageal Stent, the flagship product of the South Korean company’s Niti-S Self-Expandable line of the metal gastrointestinal stent, is included in this distribution collaboration.
  • Olympus has proposed a couple of self-expanding metal stents (SEMS) to be used as palliative measures in patients with a short life expectancy or who have malignant colonic or duodenal obstruction.

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Key Market Segments Covered in Gastrointestinal Stent Industry Research:

By Product:

  • Biliary Stents
  • Duodenal Stents
  • Colonic Stents
  • Pancreatic Stents
  • Esophageal Stents

By Material:

  • Self–Expanding Metal Stents
  • Plastic Stents

By Application:

  • Biliary Diseases
  • Irritable Bowel Syndrome
  • Gastrointestinal Cancers
  • Colorectal Cancer
  • Stomach Cancer
  • Esophageal Cancer
  • Pancreatic Cancer

By End User:

  • Hospitals and Clinics
  • Ambulatory Surgical Centers

By Region:

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

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