Market Research Blog – Page 1967 – New Product Development

Global Localized Temperature Therapy Products Market to Reach USD 3,055.6 Million by 2033, According to FMI Report

The latest market analysis by FMI, a leading market research firm, forecasts significant growth for the global localized temperature therapy products market. According to the report, the market is poised to reach a value of USD 3,055.6 million by 2033, up from USD 1,752.9 million in 2023. This growth reflects a robust compound annual growth rate (CAGR) of 5.7% during the forecast period.

Several factors are driving this upward trajectory. The surge in road accidents and sports-related injuries, coupled with the rising elderly population and the prevalence of diabetic foot ulcers, underscores the increasing demand for localized temperature therapy products. Moreover, the necessity for advanced treatment modalities is propelling market expansion.

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“The significant growth in the localized temperature therapy products market highlights the critical need for effective and advanced treatment solutions,” said at FMI. “As the healthcare landscape evolves, these products are becoming essential for managing a wide range of conditions, ensuring better patient outcomes.”

Emerging economies across Asia and Latin America present lucrative growth prospects for the market, driven by the increasing adoption of healthcare applications and expanding global manufacturing capabilities. Furthermore, the rising therapeutic applications for geriatric users are expected to bolster long-term growth opportunities.

In recent years, the market has witnessed substantial expansion, owing to improved access to healthcare services, leading to the wider adoption of injury and pain relief therapies. Non-surgical, pharmaceutical-free treatments have gained prominence due to their reduced risk of side effects and ease of use.

Localized temperature therapy, known for enhancing blood flow and oxygenation, has seen advancements such as microwaves and electric products, offering enhanced efficacy across various applications. The market demand for these products has surged, particularly in addressing road accidents, sports injuries, fractures, and tendon-related issues.

Key Takeaways: Localized Temperature Therapy Products Market By 2023 to 2033

The market is expected to grow significantly, reaching a value of USD 1,752.9 million in 2023 to USD 3.055.6 million by 2033, with a Compound Annual Growth Rate (CAGR) of 5.7% to 5.9%.
Rising prevalence of chronic pain conditions like arthritis and back pain is a major driver.
Increasing focus on patient comfort during treatments and demand for non-invasive pain management options are fueling the market growth.
Development of portable and user-friendly devices is another positive trend.
Heat therapy products hold the largest market share due to growing awareness of their benefits. Back and neck are the most common target areas for localized temperature therapy.
Challenges include high costs, lack of standardized regulations, and competition from alternative therapies.

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Key Players in the Localized Temperature Therapy Products Market:

Medtronic plc
Cardinal Health
Medline Industries Inc.
Cincinnati Sub Zero
B.u.W. Schmidt
Pic Solution
Rapid Aid
3M
McKesson Corporation
Mölnlycke Health Care AB
Breg Inc.
Kobayashi Pharmaceutical (H.K.) Co. Inc.

Recent Development:

Companies in the localized temperature therapy products market demonstrate moderate competitiveness, with numerous key players in the field. These players engage in various strategic alliances to enhance their market position.

The utilization of agreements and system automation expedites manufacturers’ strategies to seize market share and establish a significant presence. Recent examples of such collaborations include:

In February 2022, Medline formed a prime vendor partnership with The University of Kansas Health System. This partnership designates Medline as the system’s primary supplier, granting exclusive distribution rights for a comprehensive range of crucial medical supplies and solutions across the health system’s five acute care hospital facilities.
In June 2019, Mölnlycke and Zuellig Pharma strengthened their partnership to deliver advanced wound care solutions in South East Asia.

Localized Temperature Therapy Products Market Segmentation by Category:

By Product:

Localized Neonatal Therapy Product

Warming Mattress
Infant Heel warmers

Localized Heat Therapy Product

Hot water bottles
Heat lamps
Paraffin bath
Gel hot packs
Others

Localized Cold Therapy Product

Vapocoolant sprays
Thermal cooling blanket
Disposable ice bags
Cold packs
Others

By Area of Application:

Neck
Shoulder
Knee
Back
Others

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

By Region:

North America
Latin America
Europe
The Middle East and Africa
East Asia

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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 Self-Testing Market Set for Robust Growth, Forecasted to Reach USD 13.6 Billion by 2033, Finds Future Market Insights

The global self-testing market is experiencing a remarkable trajectory of growth, according to the latest projections by Future Market Insights (FMI). FMI’s comprehensive analysis forecasts a valuation of USD 7.89 billion in 2023, with the market expected to surge to an impressive USD 13.6 billion by 2033, reflecting a compound annual growth rate (CAGR) of 5.6% during the forecast period.

The self-testing market, characterized by its dynamic landscape and rapid technological advancements, is witnessing increased adoption across various industries. Key factors driving this growth include the convenience, cost-effectiveness, and the growing emphasis on proactive health management offered by self-testing solutions.

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The increasing consumer awareness about health and wellness, coupled with the rising prevalence of chronic diseases, has fueled the demand for self-testing kits. These kits enable individuals to monitor and manage their health conditions from the comfort of their homes, reducing the need for frequent visits to healthcare facilities.

Innovations in self-testing technology have also played a crucial role in market expansion. Advanced features such as user-friendly interfaces, mobile app integration, and real-time data sharing with healthcare providers have made self-testing solutions more accessible and reliable. This has not only enhanced patient engagement but also contributed to better health outcomes.

Furthermore, the COVID-19 pandemic has significantly accelerated the adoption of self-testing kits. The need for widespread testing and the desire to minimize hospital visits during the pandemic have highlighted the importance of self-testing as a critical tool for public health.

As the market continues to evolve, key players are focusing on strategic partnerships, product innovations, and expanding their distribution networks to capitalize on the growing demand. With the ongoing advancements and increasing consumer preference for self-testing solutions, the market is poised for substantial growth in the coming years.

Key Takeaways: Self-Testing Market in the US and UK

The self-testing market is expected to reach USD13.6 billion by 2033, growing at a CAGR of 5.6%.

US Market Strength:

High prevalence of chronic diseases creates demand for self-management solutions.
Established healthcare infrastructure facilitates distribution and adoption of new products.
Focus on technological advancements leads to innovative self-testing options.
High consumer awareness and demand for convenience and cost-effective solutions.

UK Market Potential:

Well-established healthcare system supports self-testing product development and distribution.
Growing burden of chronic diseases, especially among the elderly, drives demand for self-testing.
Increasing awareness and adoption of self-testing for convenience and cost-effectiveness.
Government policies support the development and adoption of self-testing products.

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Competitive Landscape:

The self-testing market has experienced rapid growth in recent years, driven significantly by key players in the industry. These key players, including manufacturers and suppliers of home diagnostic kits, medical monitoring devices, and self-testing platforms, are propelling the market forward.

Major market players are heavily investing in product development, marketing and distribution, partnerships and collaborations, and regulatory compliance. By doing so, they are making it more convenient for consumers to take control of their health through access to accurate and user-friendly self-testing solutions.

Recent Developments in the Global Market are:

In September 2021, the United States Patent and Trademark Office granted Gelteq Pty Ltd a patent for healthcare nutrition. Gelteq’s innovation marks the first patent in the U.S. for product technology related to oral glucose.

Key Companies Profiled:

ACON Laboratories Inc.
ARKRAY Inc
Assure Tech (Hangzhou) Co. Ltd.
Becton, Dickinson & Company
Bionime Corporation
Roche Holding AG
Quidel Corporation
True Diagnostics Inc.

Self-testing Market by Category:

By Product Type:

Digital Monitoring Instruments
Self-testing Cassettes
Self-testing Midstream
Self-testing Strips
Self-testing Cups
Self-testing Dip Cards
Self-testing Panels
Others

By Application:

Blood Glucose Testing
Pregnancy & Fertility Testing
Cancer Testing
Drug Abuse Testing
STD/STI Testing
Cholesterol Testing
HIV Testing
Thyroid Testing
Others

By Sample:

Urine, Blood
Saliva
Stool
Vaginal Swabs
Semen

By Distribution Channel:

Retail Pharmacies
Drug Stores
Online Pharmacies
Supermarkets/hypermarkets

By Region:

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

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Global Fungal Testing Equipment Market Set to Soar with a 10.1% CAGR Through 2033

The global fungal testing equipment market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 10.1% from 2023 to 2033. This robust expansion is expected to elevate the market size to an impressive USD 4504 Billion by 2033, according to a recent analysis by Future Market Insights.

As of 2023, the fungal testing kits market boasts a substantial presence, valued at over USD 1.72 billion. Diagnostic laboratories are identified as a critical driver of this market, holding a dominant market share exceeding 51.8% in 2023. This trend is anticipated to persist throughout the forecast period, further cementing the role of diagnostic laboratories in propelling market growth.

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The report by Future Market Insights underscores the increasing demand for advanced fungal testing equipment, driven by the need for accurate and timely diagnostics in healthcare settings. With the rise in fungal infections and the growing awareness of their impact on health, the market is set to witness unprecedented growth.

Regional Outlook:

The fungal testing kits market has positioned North America as the global powerhouse. As infectious diseases are so common, this is understandable. There is a greater demand for fungal testing kits due to the increased awareness of numerous fungal infections in this area.

The fungal testing kits industry is expanding in Asia-Pacific. With rising healthcare costs and a large patient base, these countries hold great growth potential. These previously mentioned countries are also rife with infections like candidiasis and invasive fungal illnesses. The fungus testing equipment market is growing as a result of this.

Key Takeaways:

The market’s molecular test segment forecasts a CAGR of 7.5% from 2023 to 2033 in the test type category.
The fungal testing kits industry’s diagnostic laboratory sector is likely to experience a CAGR of 7.4% between 2023 and 2033.
By 2033, the United States fungus testing equipment market to advance at a CAGR of 9.8% and reach USD 1210.95 million.
By 2033, the China fungal testing kits industry may have climbed at a CAGR of 12.9% and be worth USD 488.22 million.
By 2033, the Canadian market may have expanded by 8.4% CAGR to reach a value of USD105.55 million.
By 2033, the German fungal testing kits industry can have risen rapidly to 12.6% and be valued at USD 352.17 million.
The market in the United Kingdom is to evolve at a CAGR of 9.8% and reach USD 250.61 million by 2033.

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Fungal Testing Kits Business Forecast for the Future:

Thermo Fisher Scientific, PerkinElmer Inc., ELITech Group, Merck KGaA, bioMerieux SA, GenMark Diagnostics Incorporation, C.P.M. Diagnostic Research, F.Hoffman LaRoche Limited., PCRmax, Bioquochem, Norgen Biotek, Biomed Diagnostics Incorporation, and Hologic Inc. are among the major fungal testing kits manufacturers.

To develop profitable diagnostic kits, companies are focused on partnerships, collaborations, and acquisitions.

Crucial Strategic Innovations:

Acquisition:

ELITech Group acquired the medical goods business Gonotec GmbH on July 14, 2021.
Thermo Fisher Scientific officially confirmed the acquisition of Brammer Bio in 2019. This acquisition aided Thermo Fisher Scientific in expanding its laboratory services and product line for fungus testing equipment.

Key Segments:

By Test Type:

Molecular Test
Chromogenic Test
Others

By Sample Type:

Skin
Urine
Vaginal secretions
Blood
Cerebral
Others

By Application:

Research
Susceptibility Testing
Medical Diagnosis
Others

By End User:

Diagnostic Laboratory
Hospitals
Pharmaceutical Companies
Research and Academic Institutes

By Region:

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

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Global Physiotherapy Equipment Market Set to Soar: Projected to Reach USD 38,134.8 Million by 2033

The global physiotherapy equipment market is on the brink of a significant growth trajectory, with market projections revealing an impressive rise from USD 20,367.16 million in 2023 to USD 38,134.8 million by 2033. This forecasted expansion represents a robust compound annual growth rate (CAGR) of 6.5% over the next decade.

Physiotherapy plays a pivotal role in enhancing physical well-being and improving the quality of life for individuals recovering from injuries or managing chronic conditions. With the increasing demand for physiotherapy services, the market for physiotherapy equipment is experiencing concurrent growth. Technological innovations are at the forefront of this expansion, addressing the rising prevalence of neurological and musculoskeletal ailments and fostering rapid development within the sector.

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The market for physiotherapy equipment offers a diverse array of devices and instruments designed to facilitate the healing process. From cutting-edge heat and cold therapy devices to electrotherapy machines and therapeutic exercise equipment, the industry is dedicated to meeting a spectrum of treatment needs. These modern resources empower physiotherapists to deliver targeted care, enhance patient outcomes, and enrich the overall therapeutic experience.

Globally, the market for physiotherapy equipment is expanding significantly due to reasons like an ageing population, growing public awareness of the value of physical treatment, and rising healthcare costs. Additionally, the importance of remote and home-based physiotherapy services has been underlined by the COVID-19 pandemic, boosting the demand for portable and user-friendly equipment.

Physiotherapy Equipment Market Key Takeaways:

The global physiotherapy equipment market is forecast to grow at a healthy Compound Annual Growth Rate (CAGR) of 6.5% from 2023 to 2033. This signifies a significant increase in market size, reaching an estimated valuation of USD 38,134.8 million in 2033, compared to USD 20,367.16 million in 2023.
The United States is expected to dominate the physiotherapy equipment market throughout the forecast period, holding the largest market share. By 2033, the US market is projected to reach a valuation of USD 11,099.5 million.
Other major markets for physiotherapy equipment include China (USD 2,975.4 million), Canada (USD 912.9 million), Germany (USD 2,656.1 million), and the United Kingdom (USD 1,691.1 million). These markets are also expected to experience considerable growth during the forecast period.

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Competitive Landscape:

The physiotherapy equipment market is moderately competitive, featuring a few key players. Companies in the market are focusing on developing advanced equipment and partnering with local distributors to expand their geographic reach. Additionally, there is an ongoing trend of rapid consolidation, with several major companies actively engaging in mergers and acquisitions.

Key Developments in the Physiotherapy Equipment Market:

August 2022 – The Assam Down Town University (AdtU) opened new physiotherapy labs, including a Gait Lab, an Electromyography studies lab, and a Pulmonary function test lab with spirometers.
July 2022 – Indutrade struck an agreement to acquire all the shares of the Swedish company Primed Fysio och Rehab AB. Primed is a Swedish company that sells professional physiotherapy equipment.
February 2022 – Colfax Corp announced the renewal of its collaboration with the Professional Football Athletic Trainer Society (PFATS), allowing the firm to endorse and recommend its products to certified athletic trainers.
January 2022 – BTL Industries bought Schepp MedTech. This acquisition was made to add robots to BTL’s already extensive physiotherapy product offering.

Key Companies in the Global Physiotherapy Equipment Market:

BTL
EMS Physio Ltd.
Dynatronics Corporation
RICHMAR
Performance Health
Storz Medical AG
Zimmer Medizin System GmbH
ITO Co., Ltd.
Enraf-Nonius B.V.
Whitehall Manufacturing
DJO Global
EMS Physio
Zynex Medical Inc.
Patterson Medical

Key Segmentation:

Product:

Laser Therapy Equipment
Continuous Passive Motion Devices
Transcutaneous Electrical Neural Stimulator (TENS)
Interferential Stimulator (IFT)
Electrical Muscle Stimulator (EMS)
High Voltage Pulsed Galvanic Stimulator (HVPGS)
Ultrasound Therapy Equipment
Traction Equipment
Diathermy Equipment
Exercise Equipment

Equipment Type:

Cryotherapy
Hydrotherapy
Electrotherapy
Continuous Passive Motion Units
Multi-exercise Therapy Unit
Heat Therapy
Ultrasound Physiotherapy
Other Therapy Types

Application:

Neurological
Musculoskeletal
Cardiovascular and Pulmonary
Others

End User:

Hospitals
Rehabilitation Centers/Clinics
Homecare Settings

Region:

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

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Global Nurse Call Systems Market Poised for Substantial Growth with a Projected CAGR of 8.8% Through 2033

The global nurse call systems market is on the cusp of significant expansion, with forecasts indicating a robust Compound Annual Growth Rate (CAGR) of 8.8% from 2023 to 2033. According to the latest analysis by Future Market Insights (FMI), the market is projected to reach a notable milestone, escalating to a market value of USD 4.55 billion by 2033, up from USD 1.96 billion in 2023.

This exponential growth is driven by several key factors, most notably the widespread adoption of digitization in healthcare facilities. The integration of digital technologies has significantly increased the demand for nurse call systems, which are essential for ensuring seamless communication between patients, caregivers, and healthcare personnel. As the healthcare industry continues to embrace technological advancements, the imperative for efficient and reliable communication tools has become paramount, thereby catalyzing the market’s expansion.

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Nurse call systems play a crucial role in modern healthcare settings, enhancing the overall efficiency and responsiveness of healthcare services. These systems not only facilitate immediate communication in emergency situations but also improve routine interactions between patients and healthcare providers, thereby enhancing patient care and satisfaction.

As the demand for improved healthcare infrastructure and patient care continues to rise, the nurse call systems market is expected to witness sustained growth. With the increasing prevalence of chronic diseases, aging populations, and the need for efficient healthcare delivery, the adoption of advanced nurse call systems is set to become more widespread.

FMI’s latest analysis highlights the critical role of nurse call systems in the evolving landscape of healthcare. By providing reliable and efficient communication channels, these systems are poised to significantly contribute to the enhancement of patient care and the operational efficiency of healthcare facilities globally.

Key Takeaways:

The United America market is likely to lead the nurse call systems market in terms of market share and CAGR. The market is expected to thrive at a leading CAGR of 7.9% between 2023 and 2033. The market growth is attributed to the high healthcare budget and enhanced hospital infrastructure. The regional market is likely to cross a value of USD 527.8 million by 2033.
China nurse call systems market is another significant nurse call systems market. The regional growth is attributed to the increased number of private hospitals and healthcare clinics. The regional market is anticipated to expand at a CAGR of 7.4% during the forecast period while it is expected to hold a value of USD 128.4 million by 2033.
The integrated communication systems segment is likely to thrive in the equipment size category as it strives at a CAGR of 8.4% during the forecast period. The growth is attributed to factors like high convenience and patient connectivity
The hospital segment is expected to top the end user type category as it secures a CAGR of 8.1% between 2023 and 2033.

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Competitive Landscape:

The key vendors focus on integrating call systems with artificial intelligence and high bandwidth. Furthermore, rapid digitization in the healthcare sector is providing opportunities to vendors. The Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players working in the market are: Proofpoint, Digital Shadows Ltd, FireEye, LookingGlass Cyber Solutions, RSA Security LLC, PhishLabs, Axur, Blueliv, and CYBERSPRINT.

Recent Market Developments:

Stanley Healthcare added the UL 1069 Arial Nurse Call that is loaded with a Wi-Fi network, and 2-way voice communication between residents and caregivers. The product comes with staff notifications and central staff alerting system to provide the necessary features for every level of care.
Forbix Semicon has introduced its wireless nurse call systems with a nurse call bell with LCD VGA monitor and an inbuilt 24×7 data logger.

Key Segments:

Equipment Type:

Button-based Systems
Integrated Communication Systems
Mobile Systems
Intercom Systems

Application:

Alarms & Communications
Workflow Optimization
Wanderer Control
Fall Detection & Prevention

Technology:

Wired Nurse Call Systems
Wireless Nurse Call Systems

End-user:

Hospitals
Ambulatory Surgical Centers
Clinics
Long-term Care Centers

By Region:

North America
Latin America
Europe
Asia Pacific (APAC)
The Middle East & Africa (MEA)

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Future Market Insights Forecasts a Promising Trajectory for the Global Cold Plasma Market, Predicting USD 9,380.9 Million by 2033

Future Market Insights (FMI), a leading market intelligence and consulting firm, has released promising projections for the global cold plasma market, indicating a lucrative trajectory ahead. According to FMI’s latest research, the market is expected to achieve a significant revenue milestone, reaching USD 2469.5 million by the conclusion of 2023.

FMI’s comprehensive analysis highlights a robust Compound Annual Growth Rate (CAGR) of 14.3% for the global cold plasma market, forecasting a substantial market size of USD 9380.9 million by 2033. This growth trajectory underscores the profound impact and versatility of cold plasma technology across various industries, from healthcare to electronics manufacturing.

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“Cold plasma technology is increasingly recognized as a transformative force across industries,” stated a spokesperson from Future Market Insights. “The projected growth reflects its pivotal role in driving efficiencies, fostering innovation, and addressing sustainability concerns.”

Key drivers behind the expanding adoption of cold plasma technology include its eco-friendly characteristics, effectiveness in sterilization processes, and its capability to enhance material properties while maintaining integrity. These attributes position cold plasma as a frontrunner in sustainable and efficient technological solutions.

The anticipated growth of the global cold plasma market is expected to be fueled by ongoing investments in research and development, alongside strategic collaborations aimed at advancing technological capabilities.

Key Takeaways: Cold Plasma Market Growth and Regional Trends

The global cold plasma market is projected for significant growth, reaching an estimated value of USD 9380.9 million by 2033. This represents a Compound Annual Growth Rate (CAGR) of 14.3% from 2023.
Cold plasma technology finds application in various sectors like medicine, bioengineering, and food processing, particularly through portable devices.
The United States is expected to remain the leading market for cold plasma, with a projected value of USD 2809.5 million by 2033.
Canada exhibits the highest projected growth rate at 15.9%, reaching a market size of USD 386.8 million by 2033.
China boasts a strong growth rate of 15.8%, with a projected market size of USD 628.1 million by 2033.
European markets like Germany and the United Kingdom also show promising growth, with CAGRs exceeding 13%.

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Product Launches and Collaborations to Stimulate Market Shares of Prominent Vendors:

In 2019, the Electronics & Photonic Innovation Center (EPIC) significantly enhanced its operational capacity by acquiring a substantial number of HPT-200 plasma treatment systems from Henniker Plasma, based in the United Kingdom. This acquisition not only bolstered EPIC’s business capabilities but also raised awareness of technological advancements within the electronics and photonics industry.
In 2020, Plasmatreat, a German company, collaborated with the Bavarian Red Cross to deploy a prototype cleaning station. This station was designed to disinfect single-use protective clothing for frontline COVID-19 healthcare workers. Additionally, another station is currently undergoing clinical testing at the University Hospital of the Technical University of Munich.

Key Players Profiled in the Cold Plasma Market Report:

Nordson Corporation
Europlasma NV
Plasmatreat GmBh
Terraplasma Medical GmBh
Henniker Plasma
US Medical Innovations
Molecular Plasma Group
Nordson Corporation
Adtech Plasma Technology Co Ltd.
Smith & Nephew plc.
Thierry Corporation

Cold plasma Market: Segmentation:

Regime Type:

Low-pressure
Atmospheric pressure

Application:

Wound Healing
Cancer Treatment
Blood Coagulation
Dentistry
Packaging Decontamination
Food Surface Decontamination
Wastewater Treatment
Seed Germination

Technology:

Remote Treatment
Direct Treatment
Electrode Contact

End-user:

Medical Industry
Textile Industry
Electrical & Electronic Industry
Food & Agriculture Industry

Region:

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

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Global Patient Lateral Transfer Market Set to Exceed USD 2 Billion by 2030

The latest research indicates a momentous rise in the global patient lateral transfer market, projected to achieve an impressive 9.2% Compound Annual Growth Rate (CAGR) and surpass a market value of USD 2 billion by 2030. This substantial leap marks a significant increase from USD 995.8 million recorded in 2022.

Patient lateral transfer solutions currently dominate a substantial share, accounting for 28.8% in the global patient positioning accessories market. This growth is driven by mounting concerns over musculoskeletal injuries among caregivers during manual patient handling. Efforts to mitigate such risks through the adoption of advanced patient lateral transfer equipment have further fueled market expansion.

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“The escalating demand for patient safety and caregiver well-being has propelled the adoption of patient lateral transfer solutions,” remarked FMI. “As healthcare facilities prioritize ergonomic solutions to enhance operational efficiency and reduce injury risks, the patient lateral transfer market is poised for remarkable growth.”

The surge in market demand underscores a pivotal shift towards innovative healthcare solutions designed to optimize patient handling practices worldwide. With projections pointing towards sustained growth, stakeholders in the healthcare sector are urged to stay abreast of these transformative developments.

Key Takeaways: Patient Lateral Transfer Market by 2022 to 2030

The global patient lateral transfer market is expected to grow significantly, with estimates ranging from a CAGR of 9.2% by 2030. This translates to a market size exceeding USD 2 billion by the end of the decade.
Rising awareness of patient safety and the need to reduce caregiver injuries from manual transfers are key drivers of this growth.
Air-assisted transfer devices are expected to remain the dominant product segment due to their efficiency and ease of use.
The Asia-Pacific region is projected to witness the fastest growth due to factors like increasing healthcare infrastructure development and growing adoption of advanced medical technologies.
An aging population and rising healthcare expenditure globally are also contributing to the market expansion.

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Competitive Landscape:

In the realm of patient lateral transfer, numerous prominent contenders vie for dominance alongside both international giants and well-established local enterprises. Leading firms in this sector continually innovate, introducing novel products and technologies to vie with established offerings, while also engaging in acquisitions and partnerships with other industry frontrunners.

The Centers for Medicare and Medicaid Services (CMS) have initiated measures to encourage healthcare providers who demonstrate cost-saving in hospitalizations. CMS is championing the inclusion of nursing homes and home healthcare in this initiative, recognizing their ability to deliver superior care at more affordable rates compared to hospitalization expenses.

Key Companies Profiled:

McAuley Medical, Inc.
Patient Positioning Systems LLC
HoverTech International
Stryker Corporation (Sage Products LLC)
Getinge AB (ArjoHuntleigh)
EZ Way
Airpal, Inc.
Arjo
Medline Industries
Haines Medical Australia
Sizewise
Prism Medical

Key Segments of Patient Lateral Transfer Industry Survey:

Patient Lateral Transfer Market by Product:

Air-assisted Transfer Devices
Slide Sheets
Transfer Accessories

Patient Lateral Transfer Market by Usage:

Single Patient Use
Reusable

Patient Lateral Transfer Market by End Use:

Hospitals
Clinics
Ambulatory Surgical Centres

Patient Lateral Transfer Market by Region:

North America Patient Lateral Transfer Market
Latin America Patient Lateral Transfer Market
Europe Patient Lateral Transfer Market
East Asia Patient Lateral Transfer Market
South Asia & Pacific Patient Lateral Transfer Market
Middle East & Africa (MEA) Patient Lateral Transfer Market

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Global Medical Cannula Market Poised for Remarkable Growth, Projected to Reach USD 783.5 Million by 2030

The global medical cannula market is on track for substantial expansion, driven by the escalating demand for minimally-invasive medical procedures worldwide. Recent market analysis forecasts the market to achieve an impressive valuation of USD 783.5 million by 2030, marking a significant Compound Annual Growth Rate (CAGR) of 7.3%.

In 2022, the market was valued at USD 445 million and has since demonstrated steady growth, fueled by the increasing preference for minimally-invasive surgical techniques. This preference stems from benefits such as reduced trauma, accelerated recovery times, and enhanced patient outcomes. As healthcare providers and patients increasingly opt for procedures that offer minimal invasiveness, the demand for medical cannulas is expected to experience substantial growth.

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“This projected growth underscores the pivotal role of medical cannulas in modern healthcare practices,” stated FMI. “As the industry embraces advancements in minimally-invasive technologies, the market for medical cannulas is set to expand significantly, catering to the rising demand for more efficient and patient-friendly surgical solutions.”

The surge in demand for medical cannulas is reflective of broader trends in healthcare, where innovation continues to drive improvements in patient care and procedural outcomes. With ongoing advancements in medical technology and a growing preference for less invasive interventions, the global medical cannula market is poised to play a crucial role in shaping the future of surgical practices worldwide.

Key Takeaways: Global Medical Cannula Market

The global medical cannula market is expected to reach USD 783.5 million by 2030, driven by a growing preference for minimally invasive surgeries (7.3% CAGR).
North America leads the market (45.5% share in 2022) due to a high prevalence of diseases, advanced medical technology, and strong healthcare infrastructure.
Europe follows with a significant market share (25.8% in 2022) due to continuous research and development and a large patient population.
Asia Pacific is projected to experience the fastest growth due to rising awareness of minimally invasive surgeries, particularly in China, India, and Japan. China’s large population and government healthcare support play a key role in this growth.
Latin America and the Middle East & Africa are expected to see increasing market share, though from a smaller base (7.4% and 2.3% in 2022, respectively).

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Competitive Landscape:

Prominent companies in the medical cannula market employ a variety of strategies to enhance revenue across diverse regions, including acquisitions, mergers, expansions, collaborations, and product launches.

These companies are increasingly focusing on developing and underdeveloped regions, aiming to broaden their product portfolios in emerging and low-income countries.

Key Companies Profiled:

Boston Scientific Corporation
Medtronic plc.
Becton, Dickinson and Company
Teleflex Incorporated
Conmed Corporation
Stryker Corporation
B. Braun Melsungen
Terumo Corporation
Smith & Nephew
Getinge Group
LivaNova plc.
Ypsomed Holding AG
Harsoria Healthcare Pvt. Ltd.
Beaver-Visitec International
DTR Medical Ltd.
CosmoFrance Inc.

Key Segments of Medical Cannula Industry Survey:

Medical Cannula Market by Product:

Guedel
Yankauer
Berman
Frazier
Spackmann
Barron
Novak
Poole
Robertazzi
Bellucci
Brackman
Karman
Others

Medical Cannula Market by Medical Procedure:

Vascular Access
Surgery
Intubation
Lipofilling
Suction
Irrigation
Biopsy
Insufflation
Hysterography
Insemination
Cardioplegia

Medical Cannula Market by Size:

14G Medical Cannulas
16G Medical Cannulas
18G Medical Cannulas
20G Medical Cannulas
22G Medical Cannulas
24G Medical Cannulas
26G Medical Cannulas

Medical Cannula Market by Material:

Latex Medical Cannulas
Latex-free Medical Cannulas
Neoprene Medical Cannulas

Medical Cannula Market by End User:

Hospitals
Ambulatory Surgical Center
Clinics
Others

Medical Cannula Market by Region:

North America Medical Cannula Market
Latin America Medical Cannula Market
Europe Medical Cannula Market
East Asia Medical Cannula Market
South Asia & Pacific Medical Cannula Market
Middle East & Africa (MEA) Medical Cannula Market

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Global Medical Hyperspectral Imaging Market Set for Remarkable Growth, Reaching USD 294.7 Million by 2030

The global medical hyperspectral imaging market is poised to experience substantial growth, projected to achieve a valuation of USD 294.7 million by 2030, up from USD 181.8 million in 2022. This significant expansion, reflecting a Compound Annual Growth Rate (CAGR) of 6.2%, underscores the rising prominence of hyperspectral imaging technology in modern healthcare.

Hyperspectral imaging, currently comprising 0.4% of the global medical imaging equipment market, is gaining momentum due to its advanced capabilities in solid tumor detection and diagnosis. By seamlessly integrating spectroscopy and imaging, this cutting-edge technology enables simultaneous capture of spectral and spatial data from tissues, offering a non-invasive approach that enhances diagnostic accuracy and treatment planning.

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“This growth trajectory highlights the transformative impact of hyperspectral imaging on healthcare, particularly in the realm of oncology,” remarked Future Market Insights. “The ability to precisely analyze tissue composition in real-time is revolutionizing how clinicians detect and monitor diseases, ultimately improving patient outcomes.”

The increasing adoption of hyperspectral imaging across medical institutions is driven by its ability to provide detailed insights into tissue physiology, aiding in early disease detection and personalized treatment strategies. As healthcare providers continue to prioritize advanced imaging technologies, hyperspectral imaging stands out for its potential to enhance clinical decision-making and streamline workflow efficiencies.

Key Takeaways: Medical Hyperspectral Imaging Market Growth

The global medical hyperspectral imaging market is expected to grow significantly, reaching a valuation of USD 294.7 million by 2030, expanding at a CAGR of 6.2%.
North America currently holds the largest market share (35.4%) due to early adoption and strong healthcare investment.
Europe follows closely behind with a 27.3% share, driven by advanced research infrastructure and technology.
The Asia Pacific region (South, East, and Oceania) is projected to experience significant growth (26.2% share) due to rising adoption and success in developed nations.
Latin America and the Middle East & Africa are expected to see smaller but increasing market shares (6% and 5.1% respectively) as they develop their healthcare infrastructure.

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Competitive Landscape:

Market participants can enhance their production and align with consumer needs by forming strategic partnerships, thereby bolstering profitability and market presence. Manufacturers innovate across diverse technological fronts to both augment revenues and expand market influence.

Rio Tinto, in a recent collaboration with a satellite start-up, now utilizes satellites capable of generating hyperspectral images of mine sites from a distance of 5 meters. This advancement enables the company to efficiently monitor both active and decommissioned mining locations, track Environmental, Social, and Governance (ESG) metrics, and advance exploration efforts.
Meanwhile, Cubert GmBH unveiled the HIS-ULTRIS 5, a compact Hyperspectral Video Imager employing Light Field Technology, in October 2021.

Key Companies Profiled:

IMEC
Norsk Elektro Optikk
Galileo
Gilden Photonics
Resonon
XIMEA
Gooch & Housego
Chemlmage
Applied Spectral Imaging
Cubert
EVK DI Kerschhaggl
Headwall Photonics
FluxData

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Key Segments of Medical Hyperspectral Imaging Industry Survey:

Medical Hyperspectral Imaging Market by Product:

Hyperspectral Imaging Systems
Hyperspectral Imaging Accessories

Medical Hyperspectral Imaging Market by Application:

Medical Diagnosis
Tissue and Cell Biology
Drug Discovery
Others

Medical Hyperspectral Imaging Market by Technology:

Visible Hyperspectral Imaging
Near-infrared Hyperspectral Imaging
Ultraviolet Hyperspectral Imaging
Short-wave Infrared Imaging
Mid-wave Infrared Hyperspectral Imaging

Medical Hyperspectral Imaging Market by End User:

Diagnostic Centres
Hospitals
Research & Academic Centres
Pharmaceutical & Biotechnology Companies

Medical Hyperspectral Imaging Market by Region:

North America Medical Hyperspectral Imaging Market
Latin America Medical Hyperspectral Imaging Market
Europe Medical Hyperspectral Imaging Market
East Asia Medical Hyperspectral Imaging Market
South Asia & Pacific Medical Hyperspectral Imaging Market
Middle East & Africa (MEA) Medical Hyperspectral Imaging Market

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Aviation Fuel Additives Market Expected to Reach USD 1730.9 Million by 2033: Demand Surge in Commercial and Military Aircraft Fuel Additives

The market for aviation fuel additives is expected to be valued at USD 940.82 million in 2023 and grow at a compound annual growth rate (CAGR) of 6.2% to reach USD 1730.9 million by 2033. The aviation industry’s growing demand is driving a significant growth in the market for aviation fuel additives. Additionally, a lot of research and development is done in the aviation fuel additives sector.

A diverse range of products has been developed to cater to companies involved in converting hydrocarbon fuels for applications like transportation and electricity production. According to ATC data, around 95 percent of on-road retail fuel is treated with performance additives, meeting European government standards. Furthermore, market expansion is expected to be driven by increased research and development in the Ultra-Low Sulfur Diesel sector.

The demand for jet fuel additives is expected to benefit from strict emissions regulations imposed on automobiles and refineries. Also, concerns regarding air pollution resulting from incomplete and complete combustion of hydrocarbons are driving growth and expansion in the jet fuel additives product portfolio.

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The Clean Air Act, for instance, mandates the use of detergents and deposit control additives to reduce carbon monoxide emissions. Moreover, a wide range of additives for different types of fuels enhances fuel performance.

Fuel-related issues in engines and machinery, including fuel efficiency, can be effectively addressed through the application of additives. These additives are commonly utilized in refineries, distribution systems, and storage tanks across various transportation systems and vehicles.

Petroleum oils undergo rapid photo-oxidation and biodegradation due to marine microorganisms utilizing them as a carbon source. This degradation primarily occurs at the oil-water interface, resulting in the formation of various compounds that degrade the quality of petroleum oil. Under specific conditions, these factors accelerate the oxidation process. Fuel additives effectively remove carbonaceous deposits from combustion chamber walls.

Ongoing crude oil reservoir mining for petroleum oil and natural gas contributes to the declining quality of crude oils. In addition, the increasing demand for additives to maintain quality and meet government regulations is expected to propel market growth.

Key Takeaways

The demand for aviation fuel additives in India is projected to expand with a promising CAGR of 6.2% during the forecast period.
India is expected to accumulate over 24.6% market share by the end of the forecast period.
The sales of aviation fuel additives in the United States are expected to rise with a CAGR of 6.1% during the forecast period.
By application, military aircraft are expected to generate significant demand for aviation fuel with a CAGR of 7% during the forecast period.

“Growing concerns regarding air pollution caused by incomplete and complete combustion of hydrocarbons is expected to drive market growth during the forecast period,” – comments an FMI Analyst

Competitive Landscape

The market for aviation fuel additives is characterized by extreme competition, as key industry players are making significant investments to improve their manufacturing capabilities.

Key Innovations in the Aviation Fuel Additives Market

In September 2021, Royal Dutch Shell plc announced plans to produce around 2 million tonnes of sustainable aviation fuel (SAF) annually until 2025. The company’s objective is to have at least 10% of its global aviation fuel sales composed of SAF.
In January 2021, BASF Enzymes LLC and Innospec Fuel Specialties LLC forged a distribution agreement to enhance consumer value and showcase their dedication to the ethanol yield business.
In December 2021, BASF introduced KEROPUR-D, a new multipurpose diesel additive, in South Korea. This high-performance additive effectively eliminates engine deposits and prevents the formation of new deposits.
In November 2021, Evonik revealed the establishment of a state-of-the-art oil additive performance test lab in the Asia Pacific region.

The key industry players operating in the market are Afton Chemical Corporation, BASF SE, Dorf-Ketal Chemicals India Pvt., Ltd., Hammonds, Meridian Fuels, Nalco and Ecolab Company, Shell Chemicals LP, The Chemours Company, Biobor Fuel Additives, Nexeo Solutions, Innospec Chemical Company, and Albemarle Corporation.

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Key Segments Profiled in the Aviation Fuel Additives Market Survey

By Additive Type:

Dispersants
Antioxidants
Anti-Icing
Corrosion Inhibitors
Antiknock
Metal Deactivators
Others

By Fuel Type:

Aviation Gasoline
Jet Fuel

By Application:

Commercial Aircraft
- Passenger Aircraft
- Cargo Aircraft
Military Aircraft
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.

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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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