Personal Mobility Devices Market is Expected to Reach US$ 30 Billion by 2033 | Report By FMI

The personal mobility devices market is valued at USD 12.71 billion in 2023 and is forecasted to grow to USD 30 billion by 2033. This market is anticipated to expand at a Compound Annual Growth Rate (CAGR) of 9% from 2023 to 2033.

As urban environments transform, the scope of the market is broadening beyond conventional scooters and wheelchairs. The rise of micro-mobility solutions, such as compact electric skateboards and smart walking aids, is addressing the demand for agile and efficient transportation options tailored to individual needs.

Additionally, the integration of mobility and artificial intelligence is driving technological advancements. AI-enabled devices now provide predictive analytics for enhanced safety, real-time route optimization, and tailored mobility experiences.

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This tech synergy transforms how users interact with their environment, fostering seamless and dynamic mobility. Amid growing environmental consciousness, sustainable practices take center stage. Manufacturers are investing in eco-friendly materials, recyclability, and extended battery life, aligning with the global push for green transportation solutions. a surge in an aging population drives demand for assistive mobility devices that enhance accessibility, comfort, and autonomy, amplifying market potential.

Intriguingly, the subscription-based model gains traction, allowing users to access premium devices without the financial commitment of ownership. As this trend gains momentum, it reshapes consumer behavior and market dynamics. In essence, the personal mobility devices market’s horizon is illuminated by the interplay of AI, sustainability, demographic shifts, and novel business models. These underexplored avenues hold the promise of reshaping urban mobility, fostering independence, and enriching lives in ways previously unimagined.

Key Takeaways from the Personal Mobility Devices Market:

  • The personal mobility devices market is led by the United States, projecting an 8.9% CAGR until 2033.
  • China is at the forefront, anticipating 8.8% CAGR growth in protective clothing by 2033.
  • The United Kingdom is poised for an 8.7% CAGR by 2033.
  • The walking aids segment is set to dominate with a 27% global personal mobility devices market share in 2023.
  • FMI predicts the households segment to grow at a remarkable 9.3% CAGR through 2033.

How Key Players are Revolutionizing the Personal Mobility Devices Market?

Key players are orchestrating a transformative shift in the personal mobility devices market. Innovations like smart electric scooters, foldable e-bikes, and AI-enhanced wheelchairs are reshaping urban commuting and accessibility. Industry giants invest heavily in sustainable materials, extended battery life, and seamless connectivity, ensuring eco-friendly and efficient solutions.

Customization takes center stage with adjustable features, catering to diverse user needs. Collaborations with tech companies and integration of IoT propel personal mobility devices into the digital age, offering real-time data and navigation. As key players redefine convenience, safety, and inclusivity, they pioneer a new era of mobility that empowers individuals globally.

Key Companies:

  • Sunrise Medical LLC
  • GF Health Products Inc
  • Stryker Corporation
  • Hill-Rom Holdings Inc.
  • Invacare Corporation
  • Ottobock Holding GmbH & Co. KG
  • Klaxon Mobility GmbH
  • Drive Medical GmbH & Co. KG

Product Portfolio

  • Sunrise Medical LLC offers a versatile range of mobility aids, from manual and power wheelchairs to adaptive seating systems. With a focus on ergonomic design and cutting-edge technology, their products enhance mobility and independence for individuals with diverse needs.
  • GF Health Products Inc specializes in medical equipment, supplying hospital beds, patient lifts, and mobility aids. Their comprehensive portfolio encompasses reliable solutions that prioritize patient comfort, safety, and efficient healthcare delivery.
  • Stryker Corporation stands as a leading name in medical technology, delivering innovative hospital beds, surgical equipment, and patient handling solutions. Their advanced product lineup redefines healthcare standards, fostering better patient outcomes and streamlining medical procedures.

More Insights Available

Future Market Insights offers an unbiased analysis of the personal mobility devices market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the personal mobility devices market, the report is segmented on the basis of by Product (Walking Aids, Mobility Scooters, Medical Beds, Wheelchairs and Others), End User (Hospitals & Clinics, Long-term Care Centers, Households and Others), Sales Channel (Wholesalers/Distributors, Online Retailers, Multi-brand Stores, and Specialty Stores), across 7 major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).

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Market Segmentation

By Product:

  • Walking Aids
  • Mobility Scooters
  • Medical Beds
  • Wheelchairs
  • Others

By End User:

  • Hospitals & Clinics
  • Long-term Care Centers
  • Households
  • Others

By Sales Channel:

  • Wholesalers/Distributors
  • Online Retailers
  • Multi-brand Stores
  • Specialty Stores

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • 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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Global Seasonal Influenza Vaccines Market Poised for Remarkable Growth, Forecasted to Reach USD 18.3 Billion by 2032

The global seasonal influenza vaccines therapeutics market has witnessed robust growth in recent years, culminating in a significant valuation of approximately USD 7.2 Billion by the end of 2021. This market, driven by the escalating prevalence of seasonal flu and continuous advancements in vaccine technology, is projected to surge at an impressive Compound Annual Growth Rate (CAGR) of 9.0%.

According to extensive market analysis and forward-looking projections, this expansion trajectory is set to accelerate further, potentially reaching a staggering USD 18.3 Billion by the year 2032. This remarkable growth underscores the increasing emphasis on preventive healthcare and ongoing innovations within the pharmaceutical and biotechnology sectors to deliver effective vaccine solutions.

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The rising demand for seasonal influenza vaccines is a testament to their pivotal role in public health, particularly amid evolving viral strains and global health challenges. As stakeholders across the healthcare landscape intensify efforts to enhance vaccination coverage and efficacy, the market is poised for dynamic expansion in the coming years.

“We are witnessing a transformative period in the seasonal influenza vaccines market, driven by a combination of heightened awareness, technological advancements, and proactive healthcare strategies,” commented FMI. “As we navigate towards 2032, the focus remains steadfast on ensuring accessible, efficacious vaccines that safeguard communities worldwide.”

The forecasted growth of the global seasonal influenza vaccines market reflects a collective commitment to advancing public health initiatives and underscores the resilience of the healthcare industry in addressing infectious diseases. Moving forward, stakeholders are poised to capitalize on emerging opportunities and innovations to meet the evolving needs of global healthcare systems.

Key Takeaways: Seasonal Influenza Vaccines and Therapeutics Market

  • The market for seasonal flu vaccines and treatments is expected to reach USD 18.3 billion by 2032, driven by rising awareness of flu prevention.
  • The market responds to the constantly changing flu virus. Vaccine development and updates are crucial for maintaining effectiveness.
  • Research focuses on creating vaccines that are more effective, longer-lasting, and easier to administer.
  • The COVID-19 pandemic highlights the need for faster development and distribution of vaccines in future outbreaks.
  • Seasonal flu vaccines can significantly reduce healthcare costs and lost productivity due to illness.
  • Vaccine hesitancy due to misinformation and safety concerns requires targeted education campaigns.

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Top Major Players:

  • CSL Seqirus
  • Merck
  • GlaxoSmithKline
  • Pfizer
  • Novartis
  • Sanofi
  • AstraZeneca
  • Abbott
  • SINOVAC
  • F. Hoffman-La Roche Ltd.

Key Segments Covered in the Medical Robots Industry Survey:

By Vaccine Type:

  • Quadrivalent
  • Trivalent

By Age Group:

  • Paediatric
  • Adult

By Route of Administration:

  • Injections
  • Nasal Spray

By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Others

By Region:

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

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About Future Market Insights (FMI)

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

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Global Pelvic Floor Stimulators Market Set for Rapid Expansion Substantial Growth is expected to reach USD 325.41 Million by 2033

The global pelvic floor stimulators market is poised for substantial growth in the coming decade, driven by an aging population and increasing prevalence of urological disorders, according to a recent report by Future Market Insights (FMI).

Projected to reach USD 140.39 million in 2023, the market is expected to soar to USD 325.41 million by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 8.8%. Pelvic floor stimulators are pivotal in addressing a spectrum of urologic challenges, including cystitis, urinary retention, kidney stones, and benign prostatic hyperplasia.

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The surge in demand is particularly pronounced in the Asia Pacific region, encompassing key markets such as China, India, and Japan. This growth is attributed to an aging demographic and escalating incidences of urinary issues, highlighting the critical role these innovative devices play in healthcare.

“As the global population ages, there is an urgent need for effective solutions to manage urological disorders,” remarked a Future Market Insights. “Pelvic floor stimulators offer a non-invasive, therapeutic approach, making them increasingly popular among healthcare providers and patients alike.”

The market’s growth trajectory underscores a shift towards advanced healthcare technologies that enhance patient outcomes and quality of life. With ongoing advancements in medical technology and increasing awareness about urological health, the future looks promising for the pelvic floor stimulators market.

This highlights the key findings of the FMI report, emphasizing the:

  • The global pelvic floor stimulators market is anticipated to reach USD 325.41 million by 2033, reflecting a robust CAGR of 8.8%.
  • Pelvic floor stimulators address a growing need for effective treatment options for urological conditions like cystitis, urinary retention, and benign prostatic hyperplasia.
  • An increasing geriatric population is a key factor propelling the market growth, particularly in regions with a high elderly population density.
  • Countries like China, India, and Japan within the Asia Pacific region are witnessing a significant rise in demand for pelvic floor stimulators due to a growing elderly population and increasing awareness of urological issues.

How are Industry Players Increasing their Foothold in the Market?

Competitors providing pelvic floor stimulators are introducing innovations to invigorate their product portfolios. By releasing technologically advanced products, the companies are targeting potential customers. Additionally, the firms are engaging in mergers and acquisitions to support their market position. By implementing these strategies, companies can boost their capacity, multiply their product portfolio, and enhance device competency.

Following are Some Recent Developments in the Market:

  • Product Launch

Zynex, an electrotherapy devices manufacturer launched NeuroMove in February 2018. The product is aimed at survivors of stroke who seek to regain their movement using neuroplasticity.

  • Acquisition

Laborie, a medical technology company completed the acquisition of Clinical Innovations in February 2020. The acquisition was completed for USD 525 million. Through this acquisition, the company projected to invigorate its foothold in the market.

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Key Players in the Market:

  • Medtronic Plc
  • Atlantic Therapeutics
  • Laborie Inc.
  • The Prometheus Group
  • Everyway Medical Instruments Co., Ltd.
  • KayCo 2 Ltd.
  • InControl Medical Ltd.
  • Tic Medizintechnik GmbH
  • Shenzhen XFT Medical Ltd.
  • Chiaro Technology Ltd.
  • Zynex Inc.
  • Utah Medical Products, Inc.
  • Verity Medical Ltd.

Pelvic Floor Stimulators Industry by Category:

Product Type:

  • Electrical stimulators
  • Magnetic Stimulators

Application:

  • Urinary Incontinence
  • Sexual Dysfunction
  • Neurodegenerative Diseases

End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialized clinics
  • Homecare setting

Region:

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

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About Future Market Insights (FMI)

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

Contact Us:        

Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Global Insulin Pens Market Projected to Reach USD 66 Billion by 2033

The global insulin pens market is witnessing remarkable growth, driven by the escalating prevalence of diabetes worldwide. Recent industry reports have revealed that the market size soared to an impressive USD 35 billion in 2023, with projections indicating a robust upward trajectory. By 2033, experts anticipate the market to reach a staggering USD 66 billion, reflecting a Compound Annual Growth Rate (CAGR) of 6.5% from 2023 to 2033.

The surge in diabetes diagnoses globally is the primary catalyst behind this expansion. Lifestyle factors, including poor dietary habits and physical inactivity, are significant contributors to the rising prevalence of diabetes. As obesity rates and related health concerns continue to rise, the demand for efficient insulin delivery solutions, particularly insulin pens, is on the rise.

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Insulin pens offer a convenient and effective means of administering insulin, catering to the diverse needs of diabetic patients. Their user-friendly design, precise dosage delivery, and portability make them a preferred choice for managing diabetes effectively.

The market offers a variety of options to cater to patient needs. Cost-conscious patients can opt for disposable insulin pens, while those prioritizing long-term value can choose reusable pens. Additionally, the introduction of smart insulin pens has revolutionized diabetes management. These innovative devices can record past readings, providing valuable data for doctors to make informed treatment decisions. The ability to automatically regulate insulin based on the severity of diabetes has further attracted significant investor interest.

Insulin pens offer several advantages over traditional methods, making them particularly appealing for elderly users. They are user-friendly, with thin needles that minimize discomfort compared to conventional injections. Pre-set insulin levels further enhance convenience and save time. These benefits, coupled with rising disposable incomes and advancements in medical technology, will likely propel the market forward.

However, the development of alternative insulin delivery methods might pose a challenge to the market’s growth. Additionally, stringent regulations in certain regions could hinder market expansion.

Key Takeaways:

  • The insulin pens market is valued at USD 35 billion as of 2023.
  • By 2033, the market is expected to reach a valuation of USD 66 billion.
  • The market might surge at a CAGR of 6.5% during the forecast period.
  • Based on the regional analysis, North America is expected to hold the largest market share.
  • USA insulin pens market expected to surge at a CAGR of 6.3%.
  • UK market anticipated to grow at a CAGR of 5.8%.
  • China market projected to advance at a CAGR of 6%.
  • Japan market expected to rise at a CAGR of 5.2%.
  • South Korea insulin pens market all set to advance at a CAGR of 4.7%.
  • Based on product type, the disposable insulin pens segment is expected to hold the largest market share, and is anticipated to surge at a CAGR of 6.1%.
  • Based on distribution channel, the hospital pharmacy segment is projected to hold the highest market share, and is expected to advance at a CAGR of 5.6%.

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Competitive Landscape:

The key players operating in the market are making massive investments in the R&D to develop top quality insulin pens. Furthermore, the manufacturers are also maintaining strategic partnerships with major players from other niche to focus on capability expansion as well. Apart from that, the focus has also been on the leadership. A lot of key players have appointed some of the most experienced professionals having a good know-how of the sector.

In September 2022, Novo Nordisk and Microsoft collaborated to accelerate drug discovery and development using the big data and artificial intelligence.

Key Players:

  • NovoNordisk A/S
  • Sanofi
  • Eli Lilly
  • Diamesco Co., Ltd.
  • BigFoot Biomedical, Inc
  • Medtronic plc
  • Emperra GmbH E-Health Technologies
  • YpsoMed AG
  • DUKADA Aps

Insulin Pens Market Segmentation:

By Product Type:

  • Reusable Insulin Pen (Refillable Pens, Bluetooth Connected Smart Insulin Pen, USB Connected Smart Insulin Pen, Cartridge)
  • Disposable Insulin Pens
  • Smart Insulin Pens Caps
  • Insulin Pump

By Indication:

  • Type 1
  • Type 2

By Distribution Channel:

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Sales
  • Diabetes Clinic

By Region:

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

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About Future Market Insights (FMI)

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

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 Rx-to-OTC Switches Market, Surging to USD 66.5 Billion by 2033

The pharmaceutical industry is poised for unprecedented growth with the global Rx-to-OTC switches market set to a valuation of USD 66.5 billion by 2033, according to a recent analysis by FMI, a leading market intelligence and consulting firm. This forecast marks a substantial increase from the estimated USD 38.7 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 5.6% over the forecast period.

The transformation of prescription medications into accessible over-the-counter (OTC) products is driving this remarkable expansion, reshaping the pharmaceutical landscape. This strategic shift not only enhances consumer convenience but also underscores significant opportunities for industry FMI to meet evolving healthcare needs globally.

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“The surge in demand for Rx-to-OTC switches underscores the evolving dynamics of the pharmaceutical industry,” said Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “This trend not only offers new opportunities for market players but also holds significant implications for consumers worldwide.”

The conversion of prescription medications to OTC status not only enhances consumer access to essential healthcare products but also empowers individuals to take greater control over their health and well-being. Additionally, it enables healthcare systems to alleviate burdens on medical professionals and reduce healthcare costs.

FMI anticipates that factors such as increasing consumer awareness, favorable regulatory reforms, and advancements in healthcare technologies will continue to drive growth in the Rx-to-OTC switches market.

As the industry landscape evolves, FMI remains committed to providing comprehensive insights and strategic guidance to help businesses navigate the changing market dynamics effectively.

Key Takeaways:

  • In the historical period, the market captured a valuation of USD 36.8 billion with a CAGR of 4.3% in 2022.
  • The United States is registering a share of 86.7% in the global market by 2033.
  • With a share of 17.2%, Germany is significantly driving the global market during the forecast period.
  • Japan is estimated to surge the global market by capturing a share of 52.4% by 2033.

Several factors are driving the global market are:

  • Consumers can obtain several prescriptions from the counter without conveniently visiting doctors driving the global market.
  • The demand for rx-to-OTC switches are growing due to their cost-effective solutions. Manufacturers are developing advanced switches to attract consumers to manage their health conditions. Consumers are price-conscious, therefore they are looking towards affordable products that are driving the global market.
  • Consumers are more concerned about their health and self-care and increasingly adopt rx-to-OTC switches. These switches manage health conditions and promote self-reliance, contributing to significant market growth.
  • Several medications and treatment options are available for consumers that expand the global market. It provides prescription drugs for managing health.
  • Manufacturers invest in research and development activities to develop advanced switches by adopting favorable environmental regulations. The regulatory authorities imposed clear guidelines to approve the process to encourage manufacturers.

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How are Key Players Adopting Strategic Plans to Drive the Global Market?

The market is highly fragmented by prominent players present across regions. These players significantly drive the global market by innovating unique and advanced products. They are focused on consumers’ requirements and develop products as per their requirements. They are taking feedback from their relevant consumers to fill product gaps.

The key players are adopting various market methodologies to upsurge the global market at another level. These marketing methodologies are mergers, collaborations, acquisitions, partnerships, acquisitions, and product launches.

The key players play a crucial role in the global market by promoting, branding, and distributing their improved products on social media, online, and offline platforms. Their continuous dedication towards their work and investment in research and development activities are fueling the global market by 2033.

Recent Developments in the Global Market:

  • Product Launch 

The new emergency contraceptive pill, a birth control measure, ‘morning-after pills,’ which is of two types: Levonelle or ellaOne was launched recently. These switches are quicker to access during emergency contraception.

  • Product Approval

In 2020, the United States Food and Drug Administration (FDA) approved nasal steroid flonase. It allows consumers to treat allergies without any prescription.

Other Prominent Players In The Global Market Are:

  • GlaxoSmithKline plc.
  • Astrazeneca, Merck KGaA
  • Johnson & Johnson
  • Bayer AG
  • Sanofi
  • Boehringer Ingelheim Consumer Healthcare
  • Bausch and Lomb (A Subsidiary of Bausch Health)
  • Galderma SA
  • Alcon
  • Arbor Pharmaceuticals

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Market by Category:

Drug Category:

  • Allergy and Respiratory
  • Fungal Infections & Other Infections
  • Overactive Bladder
  • Oral Contraceptives
  • Gastrointestinal Drugs
  • Hair Loss Treatments
  • Smoking Cessation
  • Analgesic, Inflammation And Pain Management
  • Others (Lice, Acne, Weight Loss, And Laxatives)

Distribution Channel:

  • Retail Pharmacies
  • Hospital Pharmacies
  • Drug Stores
  • Online Pharmacies

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.

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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Forecasting the Future: Global Bio-Based Elastomers Market to Reach USD 1,901.8 Million by 2033

Bio-based Elastomers Market
Bio-based Elastomers Market

Global sales of bio-based elastomers are projected to reach USD 1,901.8 million by 2033, up from USD 513 million in 2023. Throughout the forecast period of 2023 to 2033, a growth rate of approximately 14% is anticipated. The market is anticipated to expand as a result of the advantages that bio-based elastomers offer over crude oil-based elastomers in terms of emissions of volatile organic compounds. The development of bio-based elastomers is a major endeavor for major crude oil-based elastomer manufacturers.

End-use companies in the elastomer market are also including sustainable materials in their product manufacturing, which can significantly impact the market growth. For instance, in January 2022, The Goodyear Tire & Rubber Company launched a demonstration tire containing 70% sustainable-material content such as soybean oil and silica produced from rice husk ash to develop tires. Pela, a phone case manufacturing company in Canada, manufactures 100% compostable phone cases from Flaxstic, a bio-based material. This material includes a by-product of the flax oil seed harvest and a bio-based thermoplastic elastomer.

The U.S. in North America is expected to witness significant growth in the demand for bio-based elastomers. This is due to the fact the country hosts a number of conventional elastomer manufacturers such as Avient Corporation, Huntsman International LLC, The Lubrizol Corporation, Trinseo, and Dow that are now engaged in the development of bio-based elastomers.

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Key Takeaways from the Market Study

  • Bio-based thermoplastic elastomers dominated the market and accounted for more than 75.0% share of the overall revenue in 2022.
  • The automotive application segment dominated the market in 2022. This is attributed to the growing use of bio-based elastomers in automotive trims, dashboards, mats, and tires.
  • North America emerged as the second-largest regional market in 2022.
  • The high price of bio-based elastomers compared to crude oil-based elastomers is expected to restrain the market growth.
  • Europe accounted for the largest revenue share of more than 40.0% in 2022.
  • The bio-based thermoplastic elastomers accounted for the largest revenue share of more than 75.0% in 2022.
  • Automotive emerged as the leading application segment and accounted for more than 35.0% share in terms of revenue in 2022.

“Technology collaboration is being observed among elastomer raw material manufacturers to develop bio-based alternatives. Such instances create a sufficient supply of bio-based raw materials, enabling adequate production of bio-based elastomers,” says an analyst at Future Market Insights.

Key Market Players

Major players are channeling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market. Key players in the Bio-based Elastomers market are Dow; FKuR; BASF SE; ARLANXEO; Trinseo; Eni S.p.A.; Asahi Kasei Corporation; DSM; Mitsubishi Chemical Europe GmbH, Ltd.; Arkema; The Goodyear Tire & Rubber Company; The Lubrizol Corporation; KURARAY CO., LTD.; Wacker Chemie AG; Huntsman International LLC; Covestro AG; HEXPOL TPE; and Avient Corporation.

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Key Market Segments Covered in the Global Bio-based Elastomers Market

By Product Type:

  • Bio-based Thermoplastic Elastomers
  • Bio-based Thermoset Elastomers

By Application:

  • Footwear
  • Automotive
  • Sports
  • Electrical & Electronics
  • Others

By Region:

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

About Future Market Insights (FMI)

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

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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United States Digital Ovulation Test Kits Market is estimated to be Worth USD 185.0 Million by 2033

The united states digital ovulation test kits market is poised for substantial growth, with projections to reach USD 185.0 million by 2033 from USD 77.4 million in 2023, reflecting a robust CAGR of 9.1% during the forecast period. This growth is fueled by increasing adoption of digital ovulation test kits, renowned for their user-friendly features and precise digital displays of results.

Key manufacturers in the United States are actively engaging in initiatives to enhance awareness about women’s health, including conditions like PCOS and PCOD, through comprehensive awareness campaigns, medication maintenance programs, and online education initiatives. These efforts are pivotal in driving the adoption of digital ovulation test kits among consumers seeking accurate fertility tracking solutions.

The market is witnessing significant advancements with manufacturers introducing new features such as the detection of multiple fertility hormones, catering to the rising demand for advanced digital ovulation tests. Despite challenges such as the availability of alternatives and occasional product recalls, ongoing product development endeavors by companies are reshaping the market landscape, bolstering demand.

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The introduction of affordable digital kits by local manufacturers may further boost the market in the future. Branded test kits are projected to be the top-selling product in the digital ovulation test kits market, accounting for over 83% of the revenue by 2031. This is attributed to the increasing availability of branded test kits through e-commerce, which has driven their demand.

The top two players currently cover more than 72% of the market share in the United States Institutional sales, are driven by increasing fertility awareness and the growing demand for ovulation testing in hospitals. These are expected to be the leading distribution channel, generating a revenue of USD 95.1 million by 2031.

Branded test kits dominate the United States digital ovulation test kits market, holding a market share of nearly 85.20% in 2022. The leading players in the market are actively promoting their branded test kits through various e-commerce platforms, driving their high demand.

Institutional sales, on the other hand, contribute a significant revenue share of over 54.21% in the market. This is primarily due to the widespread availability of digital ovulation test kits in hospital pharmacies and fertility centers, ensuring easy access for consumers and a higher likelihood of finding quality products.

Key trends in the Digital Ovulation Test Kits Market:

  • Shift from analog to digital: Digital ovulation test kits are replacing traditional line indicator kits due to their ease of use and clear results.
  • Reduced errors: Studies show digital kits can reduce misinterpretation by up to 70% compared to analog tests.
  • Mobile integration: Companies are developing technologies like PixoTest that leverage smartphones to analyze results from test strips.
  • Multi-hormone detection: Advanced kits can detect two fertility hormones, like estrogen and LH, to provide a more comprehensive picture of fertility.

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Competitive Landscape:

Swiss Precision Diagnostics GmbH, Church & Dwight Co. Inc., Prestige Consumer Healthcare, Inc., Hilin Life Products., Fairhaven Health LLC, Geratherm Medical AG, Piramal Enterprises Ltd, NecLife, and others are some market participants identified in the global Ovulation Test Kit market.

  • Crown Laboratories, a prominent, fully integrated global skin care company and a Hildred Capital Management LLC portfolio company, and L Catterton, the world’s leading consumer-focused private equity firm, announced the acquisition of StriVectin in August 2021. The transaction, subject to regulatory clearances and other standard closing conditions, is scheduled to be completed by mid-September 2021.
  • In June 2021, bioMérieux announced the sale of a detailed diagnostics’ REVEAL Rapid AST system in Europe, strengthening the market for rapid testing kits.
  • Through the Real Talk with Conceiving Hood Campaign, actress Jordana Brewster collaborated with Clearblue in April 2021 to raise awareness about the difficulty of conceiving and women’s fertility.

United States Digital Ovulation Test Kits Market Segmentation:

By Product:

  • Branded Test Kits
  • Private Label Test Kits

By Distribution Channel:

  • Institutional Sales
  • Hospital Pharmacies
  • Gynecology Clinics
  • IVF Clinics
  • Maternity Care Centers
  • Retail Sales
  • Retail Pharmacies
  • Drug Stores
  • Hypermarkets & Supermarkets
  • Online Sales

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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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Global Industrial Lubricants Market Expected to Reach USD 35,140.9 Million by 2033, Growing at a CAGR of 4.4%

Industrial Lubricants Market Share
Industrial Lubricants Market Share

The market size for industrial lubricants is projected to reach USD 35,140.9 million valuation by 2033, having crossed USD 22,845.9 million in valuation in 2023. A compound annual growth rate (CAGR) of 4.4% is anticipated for the industrial lubricants market share between 2023 and 2033.

Industries are implementing increasingly sophisticated and innovative machinery as advancements in technology occur. Extreme operating circumstances, such as high temperatures, hefty loads, or corrosive environments, are common for these high-tech devices. Advanced equipment requires specific lubricants with special qualities to satisfy their needs. For instance, synthetic lubricants are built to resist high temperatures and provide improved performance compared to traditional mineral-based lubricants. The market for these specialized lubricants rises as businesses optimize their machinery.

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One of the main users of industrial lubricants is the automotive industry. Various automotive applications, such as engine oils, transmission, brakes, and greases, require lubricants. The market for industrial lubricants used in manufacturing, maintenance, and aftermarket services develops in tandem with the ongoing expansion of the automotive industry and rising global vehicle production.

Industrial lubricants are crucial to the oil and gas industry’s exploration, production, and refining processes. Equipment used in the extraction and processing of crude oil and natural gas uses lubricants, including drilling rigs, pumps, compressors, and other machinery. The market for industrial lubricants used in the oil and gas industry rises in tandem with surging energy demand and the expansion of exploratory activities into new areas.

Key Takeaways from the Industrial Lubricants Market Report:

  • In 2018, the global market size stood at US$ 19,367.4 million.
  • The market expanded at a CAGR of 3.1% from 2018 to 2022.
  • In 2022, the global market size stood at US$ 21,883.0 million.
  • The mineral oil segment captured 40.0% of global market shares in 2022.
  • The automotive industry segment acquired 18.0% of global market shares in 2022.
  • India captured 4.8% of global market shares in 2022.
  • The United States captured 16.1% of global market shares in 2022.
  • China captured 5.0% of global market shares in 2022.
  • The United Kingdom captured 3.4% of global market shares in 2022.

Key Players in the Global Industrial Lubricants Market

  • ExxonMobil Corp.
  • Fuchs Lubricants
  • The Lubrizol Corp.
  • Royal Dutch Shell
  • Phillips 66
  • Lucas Oil Products Inc.
  • Amsoil Inc.
  • Bel-Ray Co. Inc.
  • Total S.A.
  • Kluber Lubrication
  • Valvoline International Inc.

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Industrial Lubricants Market Segmentation

By Base Oil:

  • Mineral Oil
  • Synthetic Oil
  • Bio-based Oil

By Product Type:

  • Hydraulic Fluids
  • Metalworking Fluids
  • Gear Oil
  • Compressor Oil
  • Grease
  • Turbine Oil
  • Transformer Oil
  • Refrigeration Oil
  • Textile Machinery Lubricants
  • Others

By End-use Industry:

  • Construction
  • Metal & Mining
  • Cement Production
  • Power Generation
  • Automotive
  • Chemical Production
  • Oil & Gas
  • Textile Manufacturing
  • Food Processing
  • Agriculture
  • Pulp & Paper
  • Marine Applications

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 Stereotactic Planning Software Spending Analysis Market Expected to Grow Steadily, Reaching USD 442.1 Million by 2033

The global stereotactic planning software spending analysis market is poised for significant expansion, projected to achieve a robust CAGR of 4.8% from 2023 to 2033. This growth trajectory is set to elevate the market size from USD 276.5 million to USD 442.1 million by 2033. Stereotactic planning software plays a pivotal role in neurosurgery and radiation therapy, enabling precise targeting of tumors and lesions.

The escalating prevalence of neurological disorders, such as Parkinson’s disease and brain tumors, is a primary driver fueling the demand for accurate stereotactic planning software solutions. These advancements facilitate less invasive surgical procedures, leading to faster recovery times and improved patient outcomes.

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The market landscape presents abundant opportunities for innovation, particularly in precision medicine. There is a growing demand for tailored treatment techniques that rely on precise tumor localization, underscoring the critical role of stereotactic planning software. The integration of virtual reality and augmented reality technologies further enhances surgical planning and training capabilities, promising enhanced precision and efficacy.

Despite its promising outlook, the stereotactic planning software market faces challenges. Limited reimbursement policies and high implementation costs pose barriers to widespread adoption. Legislative complexities and concerns regarding data privacy and security also contribute to market constraints. Moreover, the shortage of skilled professionals proficient in operating the software and interpreting its data presents a significant hurdle.

As the market continues to evolve, maintaining leadership in precision pathways is crucial. Embracing technological advancements and capitalizing on emerging opportunities will be pivotal in navigating the dynamic landscape of stereotactic planning software.

Key Takeaways:

  • European stereotactic planning software market to grab a share of 29.6% between 2023 and 2033
  • The United States stereotactic planning software market to grab a share of 25.9% between 2023 and 2033
  • Japan stereotactic planning software industry to hold a market share of 7.1% from 2023 to 2033.
  • Australia stereotactic planning software spending analysis market to register a CAGR of 3.4% by 2033
  • Chinese stereotactic planning software spending analysis industry to record a CAGR of 6.1% from 2023 and 2033.
  • India stereotactic planning software spending analysis market to develop at a CAGR of 5.9% between 2023 and 2033.
  • The United Kingdom stereotactic planning software business is to thrive at a CAGR of 4.6% during the forecast period.
  • The North American stereotactic planning software spending analysis industry to acquire a market share of 32.5% from 2023 to 2033.
  • German market to acquire a market share of 5.2% from 2023 to 2033.
  • By solution type category, the integrated stereotactic planning solution segment is to hold a market share of 40.52% by 2033 in the stereotactic planning software spending analysis market.
  • By 2033, the CT Images segment may have a market share of 43.9% in the Imaging Modality category.

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Competitive Outlook:

The primary objective of all stereotactic planning software manufacturers is to perform mergers, acquisitions, and strategic collaboration with top manufacturing businesses to extend their market presence and cater to the ever-increasing patient pool demand.

The stereotactic planning software spending analysis manufacturers are developing production and manufacturing facilities worldwide to enter new markets and capitalize on the market’s specific features.

Recent Developments:

  • The ‘RayStation 11A’ enhanced treatment planning system from RaySearch was introduced in May 2021. The new technology can meet the Accuray Cyberknife technology’s radiation therapy and radiosurgery needs.
  • To support the Cyberknife therapy platform with applications in the field of neuro-radiosurgery, Brainlab joined Accuray Incorporated in October 2020.
  • To serve the Australian and New Zealand markets, RaySearch Laboratories AB created a wholly-owned subsidiary with a location in Australia in July 2020.

Key Players – Stereotactic Planning Software Market:

  • Brainlab, Inc.
  • Renishaw Inc.
  • inomed Inc.
  • RaySearch Americas, Inc.
  • Mevis Informática Médica
  • FHC, Inc.
  • Integra LifeSciences Corporation
  • Elekta Solutions AB
  • SurgiFRONT Ltd.

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Key Segments:

By Solution Type:

  • Stand-alone Stereotactic Planning Solution
  • Integrated Stereotactic Planning Solution
  • Services
    • Consulting & Implementation
    • Training Services
    • On-demand Support Services

By Imaging Modality:

  • CT Images
  • MR Images
  • Angiographic Images

By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Cancer Research Institutes

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.

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Global Thermal Interface Materials Market Set to Grow at 11.5% CAGR from 2023 to 2033

Thermal Interface Materials Market
Thermal Interface Materials Market

The market for thermal interface materials is anticipated to reach USD 6,413.3 million by 2033, up from USD 2,159.4 million in 2023. The growing need for automation in the manufacturing of pharmaceuticals and medical equipment is expected to fuel the demand for thermal interface materials throughout the forecast period.

Also, as the prevalence of illnesses and disorders among people in both rich and emerging economies rises, so does the need for medications and medical items. Global sales of thermal interface materials are likely to increase as a result.

Consumer electronics frequently use thermal interface materials to enhance performance, sustainability, quality, functionality, and environmental attributes. Due to their great protection & durability, these materials contribute to an increase in the lifespan of consumer electronics. Moreover, it is predicted that the market is supported by the rising need for thermal conductivity in high-end electronic devices.

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Key Takeaways

  • By 2033, the thermal interface materials market in the United Kingdom is likely to expand, with a CAGR of 4.4%.
  • In 2023, the United States is expected to develop the thermal interface materials business with a share of 25.5%.
  • The thermal interface materials market grew considerably to US$ 2,005 million in 2022.
  • The thermal interface materials sector expanded at a CAGR of 3.1% from 2018 to 2022.
  • By 2033, China’s thermal interface materials market is projected to develop with a CAGR of 10.8%.
  • By 2033, India’s thermal interface materials industry is projected to expand with a CAGR of 11.7%.
  • Japan’s thermal interface materials industry is likely to grow significantly, with a 4% share in 2023.
  • Australia’s thermal interface materials sector is likely to expand with a share of 1.3% in 2023.
  • Germany’s thermal interface materials business is expected to grow, with a share of 12.2% in 2023.
  • In 2023, grease and adhesives are expected to dominate the market, with a share of 35.7%, based on the product type.
  • In 2023, the computer segment is expected to dominate the market, with a share of 25.1%, based on application.

Competitors Winning Strategies

Numerous small- and large-scale producers are prevalent in the global market. To accommodate the value chain component of their firm, the companies have thought about diversifying and integrating their business operations. The businesses are attempting to maintain their position as market leaders by taking advantage of economies of scale and growing through acquisitions and mergers. Companies are using mergers and acquisitions to increase the scope of their product offerings and boost product quality.

Recent Development:

  • Dow Corning Company introduced the DOWSIL TC-4040 TIMs in June 2022. This gap filler has good heat conductivity, is simple to use, and doesn’t droop. Introducing this new product aids the company’s ability to compete in the TIMs industry.
  • Loctite EA 9536 magnet bonding tape, which offers high materials expansion for electric motors, was introduced by Henkel AG & Co. KGaA in April 2020. With the help of an epoxy-based adhesive film, the magnet is fixed firmly in place, gaps are filled, and the electric motor’s manufacturing tolerances are considered.

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Key Players in the Thermal Interface Materials Market 

  • 3M Company
  • Henkel
  • Indium Corporation
  • Fujipoly]
  • The Dow Chemical Company
  • Honeywell International Inc.
  • SIBELCO
  • Shin-Etsu
  • Ray Techniques

Key Segmentation

By Product Type:

  • Tapes and films
  • Elastomeric Pads
  • Greases and adhesives
  • Phase change materials
  • Metal-Based
  • Others

By Application:

  • Telecom
  • Computer
  • Medical devices
  • Industrial machinery
  • Consumer durables
  • Automotive electronics
  • 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,
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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