Market Research Blog – Page 2153 – New Product Development

Global Nerve Repair Industry Set for Staggering Growth at 12.2% CAGR, Reaching US$861.4 Million by 2033 | FMI

The Global Nerve Repair Industry is poised for a remarkable transformation, driven by significant advancements in medical technology. According to a recent market analysis, the industry, currently valued at an impressive US$272.4 million by the end of 2023, is anticipated to witness an extraordinary Compound Annual Growth Rate (CAGR) of 12.2% over the next decade. This translates to a projected market valuation of a staggering US$861.4 million by 2033, reflecting a surge in demand for innovative nerve repair solutions.

This surge is fueled by a growing prevalence of neurological disorders, including Alzheimer’s and Parkinson’s disease, emphasizing the critical need for cutting-edge nerve repair solutions. The demand for innovative products in this sector is expected to be a key driver of market expansion, unlocking substantial growth opportunities throughout the forecast period.

Furthermore, the market’s expansion is gaining momentum due to the continuous advancements in neurological treatments. This progress is exemplified by the recent developments in the industry, such as Medtronic’s groundbreaking achievements in 2022. Medtronic received approval from the United States Food and Drug Administration (FDA) for its Intellis neurostimulator and Vanta neurostimulator, both designed to treat chronic pain associated with diabetic peripheral neuropathy (DPN). These innovations signify a significant leap forward in the field of nerve repair and treatment.

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The prevalence of various chronic nervous system diseases, including Parkinson’s and Alzheimer’s, is expected to increase throughout the projection period, which is also expected to drive up demand for treatments that heal damaged nerves. Also, it is anticipated that market expansion may quicken as a result of scientific developments in neurological therapies. Recent research indicates that there has been a sharp increase in incidences of nerve damage in industrialized nations, which has fueled the market’s demand. According to the American Association for Peripheral Nerves, 1.2 million treatments are carried out annually in the United States alone.

Global Nerve Repair Industry Key Takeaways:

Prominent market players in the Global Nerve Repair Industry are keeping an eye on the East and South Asia markets to capitalize on the growing demand for neurological products combined with rising awareness in countries including India, China, and Japan. The key players are also tapping into the markets of Mexico, Indonesia, and other Middle Eastern nations. This is also expected to fuel the demand in the nerve repair market.
In addition, prominent producers in the market are investing heavily in streamlining their R&D and improving production for nerve repair products. Owing to the cost-effectiveness achieved by outsourcing their manufacturing capabilities, CDMOs will likely anticipate a profitable decade.
When there is a damaged nerve, it can lead to serious motor and sensory issues that are expected to ache and cause the appendages to malfunction. Therefore, health professionals employing biomaterials in the nerve repair process are included in products for nerve repair. The autograft is the gold standard for nerve repair procedures, although the specifics of the procedure are determined by the type and severity of the nerve injury.
Technologically advanced nerve repair therapies are utilized to efficiently treat damage brought on by trauma and several other factors, which is known as a key factor responsible for influencing the market. Adult stem cells can easily be extracted from adipose tissue, skin, and bone marrow, and are now being employed in many developed nations to repair and regenerate nerves.
Key players in the market are raising the manufacturing of nerve repair products as the prevalence of neurological disorders across the globe. Moreover, an increase in nerve repair expenditure is likely to drive sales in the nerve repair market over the forecast period (2022-2032).
An estimation of US$ 150 billion is predicted to have been spent on medical care for nerve injuries annually in the U.S. This showcases the expenditure on nerve repair, replacement, and regeneration due to a rise in cases of indications like amyotrophic lateral sclerosis, multiple system atrophy, Parkinson’s disease, Alzheimer’s disease, and multiple sclerosis.

Competitive Landscape In the Global Nerve Repair Industry :

With the establishment of several key nerve repair production companies all over the world, the overall market is anticipated to be highly fragmented. To maintain a strong foothold over the entire industry, key players are increasing R&D efforts to expand their novel product portfolios. Various products are still in the pipeline stage as the companies are proceeding toward promoting regularization and licensing of these pipelined products after assessing their efficacy.

More Insights into the Global Nerve Repair Industry

The U.S. held approximately 89.5% share in the Global Nerve Repair Industry in 2021, opines FMI. Sales in the U.S. are slated to grow at an impressive CAGR of 13.3% during the forecast period.

Global Nerve Repair Industry Key Companies Profiled

Axogen Inc.
Stryker Corporation
Baxter International Inc.
Integra Lifesciences Holdings Corp
Neurotex Ltd
Polyganics B.V.
Abbott Laboratories
Boston Scientific Inc
Medtronic Plc
Checkpoint Surgical
Polyganics
Synovis Micro Companies Alliance
Orthomed, Inc

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Key Segments Covered in Global Nerve Repair Industry Research

By Product:

Nerve Wrap
Nerve Protector
Nerve Connector
Nerve Graft

By Nerve Repair:

Epineural Nerve Repair
Perineural Nerve Repair
Fascicular Nerve Repair

By End User:

Hospitals
Ambulatory Surgical Centers
Specialty Clinics

By Region:

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

Author

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

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

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a 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 Respiratory Devices Industry Inhales Massive Growth, Reaching US$69 Billion by 2034 at a CAGR of 9.9% | FMI Analysis

The Global Respiratory Devices Industry is experiencing a lungful of growth, fueled by several key factors. A recent industry analysis forecasts the market to reach a staggering US$26.87 billion in 2024, and this growth is expected to continue on a stellar trajectory. By 2034, the market is projected to hit a sky-high US$69.07 billion, reflecting a robust Compound Annual Growth Rate (CAGR) of 9.90%.

The surge in demand for respiratory devices is underpinned by a confluence of factors. The market for therapeutic respiratory devices has experienced substantial growth in recent years, fueled by the escalating prevalence of respiratory diseases on a global scale. Additionally, a burgeoning elderly population and an increased awareness of the pivotal role early diagnosis and treatment play in managing such conditions contribute to the market’s poised expansion.

The Therapeutic Global Respiratory Devices Industry is anticipated to reach US$ 50.6 billion in value in 2023. From 2023 to 2033, the market is projected to expand at a CAGR of 4.7%, reaching US$ 80.2 billion.

The product landscape of the therapeutic Global Respiratory Devices Industry encompasses a wide range of devices, including inhalers, nebulizers, ventilators, continuous positive airway pressure (CPAP) machines, and oxygen concentrators. These devices are utilized in various settings, including hospitals, clinics, home care, and ambulatory care centers.

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As governments and healthcare organizations across the globe strive to improve healthcare infrastructure, access to medical facilities, and patient outcomes, the demand for therapeutic respiratory devices is expected to continue rising. Additionally, the COVID-19 pandemic has highlighted the importance of respiratory support devices, resulting in increased investments in research and development to introduce more advanced and effective solutions.

Global Respiratory Devices Industry Key Takeaways:

Existence of modern healthcare facilities in the United States and Canada, the therapeutic respiratory devices market?in North America gained over 36% market share in 2021.
The Asia Pacific is predicted to expand the quickest throughout the forecast period, owing to factors such as increased asthma incidence in adults and children, as well as technology improvements.
Additionally, the market expansion would be aided by rising healthcare awareness and improved healthcare infrastructure.
The clinical trial of Tempol for the treatment of COVID-19 by Adams Respiratory Therapeutics Inc. has surpassed enrollment expectations.
COPD is estimated to affect 10% of adults aged 75 and older in the United States, according to the Journal of the Italian Society of Gerontology and Geriatrics.
According to statistics issued by the Global Initiative for Asthma (GINA), an estimated 100 million people with asthma are expected to be diagnosed by 2025.

Global Respiratory Devices Industry Competitive Landscape:

Carefusion Corporation, G.E. Healthcare, Chart industries, Philips Healthcare, Compumedics Ltd., Smiths Medical, Covidien PLC, Invacare, Fisher and Paykel, and Mindray are some of the major respiratory device companies.

Acquisitions and mergers, the launch of new products and services, partnerships and joint ventures, MoU agreements, V.C. and funding activities, R&D activities, and geographic expansion, among other noteworthy activities by key players in the therapeutic Global Respiratory Devices Industry, are among the key strategic developments in the competitive landscape.

Acapella, a select blue vibratory PAP therapy device, was released by Smiths Medical in April 2021. It is a drug-free supplementary therapy for people with asthma, COPD, cystic fibrosis, and lung illness that aids in the evacuation of secretions.
Koninklijke Philips N.V. finalized the acquisition of BioTelemetry, Inc., a firm located in the United States, in February 2021. This aided in the expansion of Philips’ product line, resulting in increased sales of therapeutic respiratory devices.

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Key Segments from the Global Respiratory Devices Industry:

By Product:

Positive Airway Pressure (PAP) Devices
- Continuous Positive Airway Pressure (CPAP) Devices
- Auto-titrating Positive Airway Pressure (APAP) Devices
- Bi-level Positive Airway Pressure (BiPAP) Devices
Oxygen Concentrator
- Fixed Oxygen Concentrators
- Portable Oxygen Concentrators
Ventilators
- Adult Ventilators
- Neonatal Ventilators
Inhalers
- Metered Dose Inhaler (MDI)
- Dry Powder Inhaler (DPI)
- Soft Mist Inhaler (SMI)
Nebulizers
- Compressor-based Nebulizers
- Piston-based Hand-held Nebulizers
- Ultrasonic Nebulizers
Humidifiers
- Heated Humidifiers
- Passover Humidifiers
- Integrated Humidifiers
- Built-in Humidifiers
- Standalone Humidifiers
Others

By Application:

COPD
Obstructive Sleep Apnea
Asthma
Respiratory Distress Syndrome
Cystic Fibrosis
Others

By End-use:

Hospital
Homecare Settings
Emergency Centres

Author

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

About Future Market Insights (FMI)

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

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Global Intra-Abdominal Pressure Measurement Devices Market to Reach USD 318.3 Million by 2033 at a 12.40% of CAGR

The global intra-abdominal pressure measurement devices market is poised for remarkable growth, with an expected valuation of USD 98.9 million in 2023. According to recent market forecasts, the market is projected to expand at a compound annual growth rate (CAGR) of 12.40% over the next decade, reaching approximately USD 318.3 million by 2033.

This significant market expansion reflects the growing importance of intra-abdominal pressure measurement in clinical settings. The rising awareness of the critical role of intra-abdominal pressure in patient outcomes, particularly in critical care and surgical environments, is driving demand for advanced measurement devices.

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Improved Patient Safety and Demographic Shifts Drive Demand

The ability to monitor abdominal pressure effectively translates to improved patient safety by offering healthcare providers the means to prevent complications and enhance treatment outcomes. As a result, hospitals and clinics are increasingly investing in these devices to minimize risks and improve patient care.

The growing geriatric population and the rising incidence of chronic diseases such as chronic kidney disease, diabetes, cardiovascular issues, and obesity are further contributing to market growth. These demographics require close monitoring, and intra-abdominal pressure measurement devices provide a valuable tool for managing such conditions.

Key Takeaways:

The intra-abdominal pressure measurement devices market is estimated to secure a valuation of US$ 328.3 million with a CAGR of 12.40% by 2033.
In the historical period, the market captured a valuation of US$ 89.4 million with a CAGR of 10.6% in 2022.
The United States dominates the global market by registering a share of 45.1% during the forecast period.
Japan is anticipated to secure a share of 6.4% in the global market by 2033.
With a CAGR of 15.70%, Australia is significantly driving the global market by 2033.
Germany is another nation predicted to register a share of 6.7% in the global market during the forecast period.

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Competitive Landscape:

The market is highly fragmented, with several competitors in the intra-abdominal pressure measurement devices space. These companies are implementing mergers and acquisitions, partnerships and collaborations, and new product launches to meet consumer demand and expand their customer base.

Other Prominent Players in the Global Market are:

R. Bard, Inc.
ConvaTec Group PLC
Stryker Corporation
Biometrix Ltd. (Degania Silicone, Ltd.)
Centurion Medical Products
Holtech Medical
ConvaTec Group PLC
Potrero Medical
Gaeltec Devises Ltd.
Speigelberg GmbH & Co. KG.
C2Dx Inc.
Scranton Gillette Communication
Nutrimedics S.A.
SEM Mthembu Medical (Pty) Ltd
Carl Zeiss AG

Market by Category:

By Product:

Disposables
Equipment

By Application:

Intra-abdominal Hypertension
Intra-compartment Pressure

By End User:

Hospitals
Clinics
Trauma Centers
Ambulatory Surgical Centers (ASCs)

By Region:

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

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Global Compression Garments and Stockings Industry Poised for Steady Growth at 4.9% CAGR, Reaching US$3.9 Billion by 2029 | FMI

The Global Compression Garments and Stockings Industry is poised for sustained growth, fueled by a growing emphasis on patient well-being and rising support from healthcare professionals. According to a recent analysis by Future Market Insights (FMI), a leading market research firm, the market is projected to experience a steady Compound Annual Growth Rate (CAGR) of 4.9% over the next seven years (2022-2029). This growth trajectory translates to an estimated market valuation of US$3.9 billion by 2029, reflecting a significant increase from the US$2.8 billion recorded in 2022.

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Key Takeaways – Global Compression Garments and Stockings Industry Study

The growing adoption of compression garments for orthopedic post-surgical pain management has contributed to the significant market share of the segment by product type.
Hospitals remain as prominent distribution channels for compression garments and stockings for patients suffering from muscle pain, swelling, and bone-related injuries.
Online sales of compression garments and stockings are gathering momentum owing to favorable discounts and free shipping offered by various platforms.
Growing preference for compression garments and stockings among the geriatric population in Western Europe contributed to the significant dominance of the region in the compression garments and stockings industry.
An increasing number of sports injuries and wounds are expected to drive the compression garments and stockings market growth. Strict norms for the use of compression garments and stockings among armed forces personnel and athletes are anticipated to propel the market growth.

Rising Awareness Holds Key to Unlock New Markets

The key manufacturers in the global compression garments and stockings industry are keen to spread awareness about the benefits offered by compression garments and stockings. In May 2017, BSN Medical hosted panel discussions on chronic venous diseases and wound infection management at EWMA 2017. Medi GmbH & Co. KG spreads awareness through its alliance with the German Society for Arthroscopy and Joint Surgery, Eurocom, the German Association for Shoulder and Elbow Surgery, the German Knee Society, and other associations.

More About Global Compression Garments and Stockings Industry Study

Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the segments from 2015 to 2029. The global compression garments and stockings industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The study provides compelling insights into the compression garments and stockings industry based on product type (compression garments, compression stockings), application (varicose vein, wound care, burns, oncology, other indications), and distribution channel (hospitals, ambulatory surgical centers, clinics, online sales, other healthcare facilities) across seven major regions.

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Global Compression Garments and Stockings Industry by Category By Product :

Compression Garments
- Upper Compression Garments
- Lower Compression Garments
Compression Stockings
- Anti-Embolism Compression Stockings
- Gradient Compression Stockings

By Application :

Varicose Veins
Wound Care
Burns
Oncology
Others

By Distribution Channel :

Hospitals
Ambulatory Surgical Centers
Clinics
Online Sales
Other Healthcare Facilities

By Region :

North America
Western Europe
Eastern Europe
APEX
Japan
Latin America
Middle East and Africa

Author

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

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

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Global Obesity Management Market Continues Upward Trajectory, Projected to Reach USD 3,494.5 Million by 2033 at a 5.2% of CAGR

The global obesity management market is on a robust growth trajectory, projected to expand at a compound annual growth rate (CAGR) of 5.2% over the forecast period from 2023 to 2033. According to recent market analysis, the market value is expected to rise from USD 2,095.6 million in 2023 to an impressive USD 3,494.5 million by 2033.

This significant market growth underscores the increasing global focus on effective obesity management solutions, driven by rising obesity rates and the associated health risks. The expanding market reflects a heightened awareness and demand for comprehensive strategies to manage and mitigate obesity-related health issues.

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Future Outlook for a Pressing Challenge

As the battle against obesity continues, the obesity management market is well-positioned for sustained growth in the coming years. Addressing this global health challenge will require continued innovation and accessibility within the market to ensure effective solutions reach those who need them most.

Businesses that have understood the benefits of integrating obesity management services into their employee wellness programs are also contributing to the market’s growth. Growing awareness and focus on preventative healthcare is encouraging people to get expert assistance in managing their weight and overall health. Additionally, industrialized places where obesity and other lifestyle-related disorders have become major public health concerns exhibit this tendency.

Many customers are unable to receive professional treatment or participate in weight-management programs because of the stigma attached to obesity and cultural prejudices. Additionally, some people may be deterred from using obesity control programs and therapies by their high cost, particularly in low-income areas or emerging nations.

Key Takeaways from the Global Obesity Management Market Study Report by FMI

The United States is the leading market in the adoption of obesity management strategies and generated around 32.1% of the global revenue share in 2022. Moreover, market players in the United States are making continuous investments in research and development, working with healthcare practitioners, and taking a patient-centric approach.
Germany is the leading market in the Europe region which had a global market share of 29.5% in the year 2022.
It is anticipated that demand for obesity management services and solutions in the Asia Pacific region could witness a high CAGR through 2033. For instance, China and India are poised to witness 6.6% and 6.4% CAGRs over the next ten years.

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Competitive Landscape for the Obesity Management Market Players

The complexity of obesity and the lack of a universally applicable management strategy are two key barriers even for these leading market players. It is difficult to provide solutions that are universally beneficial since each individual may require a treatment plan that is specialized and unique to them.

In recent years the growing percentage of obese people in third-world countries has encouraged many start-ups to adopt the business of obesity management. However, for such emerging players, it could be essential to make sure obesity control treatments are affordable and accessible to increase their impact.

Key Players Profiled in the Global Market:

GlaxoSmithKline Plc.
VIVUS, Inc.
Novo Nordisk A/S
Currax Pharmaceuticals LLC
Cheplapharm Arzneimittel GmbH
Bausch Health Companies Inc.
Takeda Pharmaceuticals, Inc.

Key Segmentation

By Drug Type:

Bupropion and Naltrexone
Orlistat
Lorcaserin
Phentermine and Topiramate
Liraglutide

By Surgery Type:

Gastric Bypass Surgery
Adjustable Gastric Banding Surgery
Gastric Sleeve Surgery
Duodenal Switch Surgery
Others

By Distribution Channel:

Hospitals Pharmacies
Retail Pharmacies
E-commerce

By Region:

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

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North American Medical Carts Industry Gears Up for Steady Growth at 4.7% CAGR, Reaching US$3.75 Billion by 2034 | FMI

The North American Medical Carts Industry is on track for a consistent rise, fueled by advancements in healthcare technology and a growing focus on improving patient care efficiency. A recent market analysis forecasts a robust Compound Annual Growth Rate (CAGR) of 4.7% over the next decade (2023-2034). This translates to a projected market valuation of a staggering US$3.75 billion by 2034, reflecting a significant increase from its current estimated value of US$2.26 billion in 2023.

Rising focus on point-of-care diagnosis & treatment has led to an increase in the use of mobile computer medical carts. Computer medical carts are used to record and update a patient’s electronic health records (EHR). Increased adoption of Electronic Health Records (EHR) is also observed to be an instrumental factor in the growth of the North American medical care industry

The need for streamlining workflow has necessitated the integration of information technology (IT) solutions in healthcare settings. Medical carts manufactured by companies are presently serving the essential purpose of aiding nursing operations in medical facilities. The robust healthcare infrastructure in the US will demand the adoption of advanced medical carts that not only dispense medical instruments & supplies but also have integrated IT systems. In the years to come, the demand for medical carts in North America will witness a steadfast inclination towards IT-integrated medical carts.

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Constructive Prospects for the Future of the North American Medical Cart Industry

A lucrative opportunity for such prominent medical device manufacturers towards consolidating their presence in the medical carts market in North America is changing their product line following a shift in technology. Mechanical medical carts are being gradually replaced by new and enhanced technologies such as powered medical devices with battery systems, locking drawers (with a negative tilt to facilitate efficient stocking of medication), and automated medicine dispensing systems.

In addition to this, increased focus on acquisitions and collaboration among companies has helped them expand their clinical carts product portfolio and cater to the demand for efficient healthcare systems. This has boosted the need for more effective and advanced medical equipment, devices and procedures. Emerging players must keep in mind that acquisitions over the years have resulted in strengthening the positions of current market leaders.

Key Highlights of the North American Medical Cart Industry Report follow,

In 2017 and beyond, computer medical carts will remain in great demand, procuring close to 40% of the market’s overall revenues towards the end of 2027
North America’s medical carts market is poised to witness the dominance of metal as base material, revenues from which will reflect a CAGR of 12.1%
Non-powered medical carts will also be top-sellers in the market, while revenues from sales of powered medical carts are anticipated to showcase a 12.6% CAGR
Hospitals will be the largest end-users of medical carts in North America

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North American Medical Carts Industry Key Segments:

By End User:

Hospitals
Clinics
Ambulatory Surgical Centres
Diagnostic Centres
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
MEA

By Material Type:

Metal
Plastic
Wood

By Energy Source:

Powered
Non-Powered (Mechanical)

By Product Type:

Emergency Carts
Procedure/Treatment Carts
Anaesthesia Carts
Medical Computer Carts
Others

Author

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

About Future Market Insights (FMI)

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

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Global Varicose Vein Treatment Industry Booming at 6.8% CAGR, Reaching US$1.5 Billion by 2033 | FMI Analysis

The Global Varicose Vein Treatment Industry is poised for significant growth, fueled by a rising prevalence of varicose veins and increasing awareness of treatment options. According to a recent analysis by Future Market Insights (FMI), a leading market research firm, the market is projected to reach a robust valuation of US$1,477.3 million by 2033. This translates to a Compound Annual Growth Rate (CAGR) of 6.8%, signifying a remarkable increase from the market’s current value of US$765.2 million in 2023.

Unattended varicose veins can cause severe pain through swelling, ulceration, venous eczema, and lipodermatosclerosis. Treating them through appropriate measures becomes quite crucial. One may opt for non-surgical remedies such as sclerotherapy, leg elevation, or alternative invasive techniques such as endovenous laser treatments. Collectively, these therapies can be addressed as varicose vein treatments, medically practised in all parts of the world. The demand for such varicose vein treatments is expected to grow in the years to come.

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Global Varicose Vein Treatment Industry Opportunities

Backed with strong clinical evidence, endovenous laser ablation devices are more popular to treat varicose veins. However, compared to other procedures such as foam fillers, vein stripping costs, and blast with electricity, endoscopic variceal ligation (EVL) is a costlier treatment alternative. The launch of cost-effective EVL devices will work as a favourable opportunity for new entrants as well as existing players in the market. Decreasing the procedure costs and enhancing the adoption of affordable devices will cumulatively boost the adoption of varicose vein treatments.

Among the wide variety of endovenous laser ablation devices available in the market, some of them may lead to complications such as thrombophlebitis, nerve damage, burns and deep vein thrombosis conditions. There is a potential opportunity for endovenous laser ablation device manufacturers to tap the larger market by offering competitive products that cause fewer complications.

APEJ Varicose Vein Treatment Market to Record Speedy Growth

Apropos the report, more than 40% of the market revenues will remain concentrated in North America, throughout the forecast period. By 2026-end, North America’s varicose vein treatment market will have reached a value of US$ 420 Mn. US-based AngioDynamics, Inc. will be observed as a key player in the market during this period. In terms of revenue growth, the varicose vein treatment market in Asia-Pacific excluding Japan (APEJ) region is projected to be at the forefront.

By exhibiting 7% CAGR, the APEJ varicose vein treatment market will witness the active participation of Korean medical device manufacturer, Wontech Co., Ltd. Apart from these, Syneron Medical Ltd., Dornier MedTech GmbH, Alma Lasers Ltd., Alna-Medicalsystem GmbH, LSO Medical, Energist Ltd. and intros Medical Laser GmbH are other companies partaking in the growth of Global Varicose Vein Treatment Industry.

The report further reveals that hospitals and ambulatory surgical centres as end-users will account for a larger share of global revenues, while specialised clinics will register the fastest revenue growth at 7.2% CAGR. The report also identifies endovenous laser treatment as the dominant Global Varicose Vein Treatment Industry, procuring revenues worth over US$ 500 Mn by the end of 2026.

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Global Varicose Vein Treatment Industry Taxonomy By End User

Hospitals
Ambulatory Surgical Centres
Specialised Clinics

By Treatment Type

Endovenous Laser Systems
- Diode Lasers
- Yag Lasers
Endovenous Laser Fibres
- Bare Tip Laser Fibres
- Radial Tip Laser Fibres
- Gold Tip Laser Fibres
Treatment
- Non-thermal Ablation
- Radiofrequency Ablation
- Sclerotherapy

Author

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

About Future Market Insights (FMI)

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

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Global Painkillers Market Set to Soar, Predicted to Reach USD 100.0 Billion by End of 2033 at a 3.7% of CAGR

The global painkiller market is set to achieve a significant milestone with an expected valuation of USD 70.0 billion by the end of 2023. Looking ahead, the market is anticipated to expand at a compound annual growth rate (CAGR) of 3.7%, reaching an approximate valuation of USD 100.9 billion by 2033. These findings are based on a recent study conducted by Future Market Insights, highlighting the dynamic growth trajectory of the painkillers market.

Key insights from the study reveal that opioids are the dominant segment within the global painkillers market, commanding a substantial share of approximately 53.4% in 2022. This underscores the significant reliance on opioid-based pain management solutions in addressing chronic and acute pain conditions.

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In the end, developing non-opioid extended-release medications is essential to addressing the opioid issue and providing patients with a safer option. Consequently, this development will drive the painkiller market as a whole throughout the estimated period of 2023 to 2033.

Key Takeaways:

The global painkiller market is estimated at US$70.0 billion in 2023 and is projected to reach US$100.9 billion by 2033, reflecting a steady CAGR of 3.7%.
Opioids currently dominate the market, holding a share of approximately 53.4% in 2022. However, the market is expected to see a rise in demand for alternative pain management solutions.

Competitive Landscape:

Key market players in the painkillers market launch their products. This promotional strategy is expected to be highly impactful to enter into the market.

A few of the recent instances include

In March 2023, Perrigo Company plc received final approval for its Abbreviated New Drug Application from the “FDA” for ibuprofen Tablets and acetaminophen, 250 mg/125 mg.
In January 2023, Procter & Gamble (P&G) India added new Vicks ZzzQuil NATURA to its existing portfolio of Vicks in India.

Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the Painkillers market, which are available in the full report.

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Key Companies Profiled:

AbbVie Inc. (Allergan plc)
Bristol Myers Squibb Co.
Sanofi S.A.
Boehringer Ingelheim International GmbH
Pfizer Inc.
Zydus Lifesciences Ltd. (Cadila Pharmaceuticals)
GSK plc.
Abbott Laboratories, Inc.
Novartis AG
Johnson & Johnson (Janssen Pharmaceuticals, Inc.)
Sun Pharmaceutical Industries Ltd.
Teva Pharmaceuticals Ltd.
Mallinckrodt Pharmaceuticals
Endo Pharmaceuticals Inc.
Bayer AG
F. Hoffmann-La Roche Ltd.
Procter & Gamble
AstraZeneca
Cardinal Health
Perrigo Company Plc.
Bausch Health Companies Inc.
Viatris
Amneal Pharmaceuticals
Purdue Pharmaceuticals L.P.

Key Market Segments Covered in Painkillers Industry Research:

By Drug Class:

Opioids
- Tramadol
- Oxycodone
- Hydrocodone
- Other Opioids
NSAIDs
Local Anesthetics
Acetaminophen

By Product:

OTC Products
Prescription Drugs

By Indication:

Surgical Pain
Cancer Pain
Neuropathic Pain
Musculoskeletal and Joint Pain
Others

By Route of Administration:

Injectable
Oral
Rectal
Topical
Transdermal
Others

By Distribution Channel:

Hospital Pharmacies
Specialty Clinics
Long Term Care Centers
Retail Pharmacies
Drug Stores
Online Pharmacies

By Region:

North America
Latin America
East Asia
South Asia & Pacific
Western Europe
Eastern Europe
Central Asia
Russia & Belarus
Balkan & Baltic Countries
Middle East and Africa

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Global Smart Insulin Pens Industry Set for Explosive Growth at 8.3% CAGR, Reaching US$8.75 Billion by 2033 | FMI

The Global Smart Insulin Pens Industry is poised for a remarkable transformation, fueled by advancements in diabetes management technology. According to a recent market analysis, the market is expected to witness a surge, reaching a staggering US$8.75 billion by 2033. This translates to a robust Compound Annual Growth Rate (CAGR) of 8.3%, signifying a significant expansion from its current valuation of US$3.93 billion in 2023.

This growth is primarily fueled by the increasing adoption of smart insulin pens, representing a major advancement in diabetes management. With a rising global diabetic population, there’s a critical need for innovative solutions. Healthcare providers and patients are actively seeking more effective ways to address the challenges associated with diabetes. Smart insulin pens are emerging as a game-changer in this fight.

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Manufacturers are thus capitalizing on these trends to launch fresh and inventive product lines, allowing them to gain a firm foothold in the market. Medtronic, for example, will debut its InPenTM smart insulin device with real-time GuardianTM Connect CGM Data in November 2020, making it the first smart insulin pen for diabetics who require many daily injections. BioCorp and Roche Diabetes Care just launched the Mallya smart insulin pen device in France in April 2021.

Key Takeaways from the Global Smart Insulin Pens Industry Report

Bluetooth-enabled Smart Insulin Pens will account for more than half of the revenue share by 2031.
According to indications, type 2 diabetes therapy will account for the majority of smart insulin pen deployment.
Smart Insulin Pens were primarily distributed through retail pharmacies, with e-commerce sales fast increasing.
The United States will see credible growth as the approval rate for new diabetes treatment devices rises.
Growing acceptance of needle-free insulin injections in the United Kingdom
In the long run, Germany and France will see increasing collaboration between key manufacturers.
A high concentration of regional manufacturers will drive growth in India and China.

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Global Smart Insulin Pens Industry – Key questions answered in the report

What trends are in store for the Global Smart Insulin Pens Industry growth?

According to FMI, the Global Smart Insulin Pens Industry is expected to reach multi-billion dollar valuations in both the short and long run, owing to an increase in the global diabetes population pool and the resulting increase in hospital workload. Bluetooth-enabled Smart Insulin Pens are predicted to stay in high demand.

Which is the most promising Global Smart Insulin Pens Industry?

According to FMI’s estimate, demand for Smart Insulin Pens is projected to continue high in the US market, owing to the government’s ongoing efforts to eradicate the diabetes epidemic through major advertising campaigns. Furthermore, with the presence of multiple regional-level producers, India and China are likely to emerge as the main markets in the Asia-Pacific region.

Global Smart Insulin Pens Industry Competitive Landscape

significant insulin pen manufacturers are efficiently using significant expansion tactics, such as new product releases and R&D, collaboration with current manufacturers, and outright/partial purchase of important market participants. The incorporation of virtual technological breakthroughs to improve diabetes care is being prioritized.

Novo Nordisk and the University of Toronto signed a CAD 40 million investment agreement in February 2021 to establish the Novo Nordisk Network for Healthy Populations. This network will concentrate on novel methods of diabetes management and chronic disease prevention. This will most likely aid in the creation of Smart Insulin Pens.

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Companies are also focusing on providing advanced software platforms, such as Digital Medics’ DiabetesPlus DataSync Software. This platform enables users to download insulin and glucose data directly from the device. Key features include downloading insulin data from the insulin pen, glucose levels from the glucose meter, and synchronization of data on the Cloud for use with mobile devices.

Global Smart Insulin Pens Industry Key Players

Digital Medics Pty Ltd.
Emperra GmbH e-Health Technologies
Companion Medical Inc.
Sanofi Aventis LLC
Novo Nordisk A/S
Eli Lily and Company
Companion Medical
Diabnext
Jiangsu Delfu Medical Device Co. Ltd.
DIAMESCO Co Ltd.
Patients Pending Ltd (Bigfoot Biomedical Inc.)
BERLIN-CHEMIE

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Global Smart Insulin Pens Industry – Key Segments Covered

Indication

Diabetes Type I
Diabetes Type II

Connectivity

Bluetooth Connected
USB Connected

Distribution Channel

Clinics & Ambulatory Surgical Centers
E-Commerce
Retail Pharmacies

Author

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

About Future Market Insights (FMI)

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

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Global Dengue Vaccines Industry Set for Explosive Double-Digit Growth, Reaching US$1.6 Billion by 2033 | FMI Study

The fight against dengue fever is gaining momentum, propelled by a burgeoning Global Dengue Vaccines Industry. According to a recent analysis by Future Market Insights (FMI), a leading market research firm, the market is projected to experience a phenomenal double-digit Compound Annual Growth Rate (CAGR) in the coming years. This translates to a projected market valuation of a staggering US$1,603.7 million by 2033, reflecting a significant shift in the fight against this widespread mosquito-borne disease.

Addressing a Public Health Crisis:

FMI’s strategic insights highlight the industry’s potential to address the global burden of dengue fever. The Asia-Pacific region, in particular, has witnessed a surge in dengue cases, escalating the demand for effective preventative measures. This has spurred several pharmaceutical companies to focus on developing innovative vaccines against this mosquito-borne viral disease.

Market Primed for Growth:

FMI’s latest report paints a promising picture for the global dengue vaccine market. The current market value is estimated to be US$474.8 million in 2023, with significant growth projected in the coming years. This exponential rise highlights the industry’s growing importance in combating dengue fever and protecting public health.

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Geographic Overview

Latin America is expected to remain the second largest market for dengue vaccines, with a valuation of nearly US$ 290 million by the end of the forecast period. The report also predicts that more pharmaceutical companies will become involved in the expansion of the Global Dengue vaccine industry shortly.

According to the report, government institutes will continue to be the largest end-users of dengue vaccines. Dengue vaccine sales across government institutes will generate nearly US$650 million in revenue by the end of 2027. Furthermore, hospitals will maintain their dominance, with double-digit CAGRs throughout the forecast period. Sales of the sole vaccine, Dengvaxia, manufactured by Sanofi, are currently driving market growth. Furthermore, the factors influencing the market growth profiled in the report are discussed below.

Key Highlights of Global Dengue Vaccines Industry Report

Other than the burdening occurrence of dengue in some countries, the economic turmoil in Latin America is estimated to influence the growth of the global market at the macroeconomic level.
Live attenuated vaccines are also produced and developed economically, thereby consoling the vaccine market and patients.
Low availability of optimum diagnostic systems and lack of skilled professionals have led to cases, where dengue fever is being treated as undistinguished febrile disease.
The global market of dengue vaccines is likely to secure an opportunistic revolution when companies are likely to able to successfully develop effective vaccines for all age groups.

Overall, the global dengue vaccines market, which is currently valued at nearly US$ 250 million, will increase rapidly to reach over US$ 1,250 million in terms of revenues, by the end of 2027.

According to FMI’s report, the following dengue vaccine manufacturers operate within the Global Dengue Vaccines Industry landscape:

Sanofi Pasteur Limited
Takeda Pharmaceutical Company Limited
Merck & Co. Inc.
GlaxoSmithKline Plc.
GeneOne Life Science Inc.
Medigen Vaccine Biologics Corporation
Panacea Biotec Limited
Sun Pharmaceutical Industries Ltd
Serum Institute of India Pvt. Ltd.
Biological E Ltd.

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Global Dengue Vaccines Industry Key Segments Covered

Product

CYD-TDV (Dengvaxia)

End-User

Hospitals
Government Institutes
Non-governmental Organizations (NGOs)

Region

North America (US and Canada)
Latin America (Brazil, Mexico, Venezuela, and the Rest of LATAM)
Western Europe (Germany, UK, France, Spain, Italy and Rest of Western Europe)
Eastern Europe (Russia, Poland and Rest of Eastern Europe)
APEJ (The Philippines, Indonesia, Malaysia, Thailand, Vietnam, India and Rest of APEJ)
Japan
Middle East & Africa (GCC, Northern Africa, South Africa and Rest of MEA)

Author

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

About Future Market Insights (FMI)

Contact Us: