Market Research Blog – Page 2211 – New Product Development

Global Network Point of Care Glucose Testing Industry Poised for Steady Growth at 4.8% CAGR, Reaching US$2.5 Billion by 2032 | FMI

The Global Network Point of Care Glucose Testing Industry is poised for a promising future, driven by the increasing need for convenient and efficient blood sugar monitoring. According to a recent analysis by Future Market Insights (FMI), a leading market research firm, the market is expected to reach US$2.5 billion by 2032, reflecting a steady Compound Annual Growth Rate (CAGR) throughout the forecast period. This translates to a projected market increase of US$1.6 billion in 2021.

Accu-Chek Inform II: A Leading Force in Streamlined Glucose Testing

One of the key drivers behind this market growth is the popularity of advanced point-of-care glucose testing systems like the Accu-Chek Inform II. This system has experienced consistent growth, boasting a 4.5% CAGR between 2017 and 2021.

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US to Dominate Network Point-Of-Care Glucose Testing Market throughout the Analysis Period

In 2021, the United States generated the most revenue in the network point-of-care glucose testing market. In the United States, revenue from network point-of-glucose testing increased at a 4.6% CAGR from 2017 to 2021. The high prevalence of diabetes in the geriatric population, combined with increased awareness of glucose testing, is driving the network point-of-care glucose testing market in the United States. Furthermore, with key companies taking the lead in raising awareness about POC glucose monitoring, the market is expected to grow by US$ 735 million by 2032.

Global Network Point of Care Glucose Testing Industry: Competition Insights

Companies engaged in network point-of-care glucose testing are solely concerned with raising diabetes awareness and developing advanced point-of-care glucose testing devices. F. Hoffmann-La Roche and others are key players in the network point-of-care glucose testing market. The company Hoffmann-La Roche Ltd. Danaher, Abbott, Nipro, Platinum Equity Advisors, LLC (Lifescan, Inc.), Nova Biomedical, ACON Laboratories, Trividia Health, Inc., Prodigy Diabetes Care, LLC, Bayer AG/Ascensia Diabetes Care Holdings AG, EKF Diagnostics, and others are among the companies that have participated.

Some of the recent developments by key providers of Network Point-of-Care Glucose Testing are as follows:

Roche announced the release of the Cobas pulse system in January 2022 to manage blood glucose solutions. It is intended to be the first diagnostic tool available at the point of care, as well as a means for users to communicate with developers of digital health software and applications. As a result, clinical insights will become easier to obtain, and patient care will improve.
EKF Diagnostics introduced the STAT-Site WB handheld analyzer in October 2021. It is primarily used for determining -ketone and glucose levels in whole blood in seconds. It sends results in 10 seconds for -ketones and 5 seconds for glucose using two different test strips.
EKF Diagnostics will collaborate with Tosoh Europe N.V. in May 2020. for the Middle East and Africa distribution of a Quo-Test HbA1c point-of-care (POC) analyzer The collaboration’s goal is to meet the needs of those who are more likely to develop diabetes.
ACON laboratories released an On Call Express Voice in the US market in September 2019. This feature complements ACON laboratories’ family of blood glucose meters. It includes navigation and an audio feature to help the user get the most out of the audible blood glucose meter.

Key Segments Covered in Global Network Point of Care Glucose Testing Industry Survey

Global Network Point of Care Glucose Testing Industry by Product Type:

i-STAT
Accu-Chek Inform II
Stat Strip
Hemo Cue
Care Sens Expert Plus
BARO-zen H Expert Plus

Global Network Point of Care Glucose Testing Industry by Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Network Point of Care Glucose Testing Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on Product Type (i-STAT, Accu-Chek Inform II, Stat Strip, Hemo Cue, Care Sens Expert Plus, BARO-zen H Expert Plus), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

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Author

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

Identifying key challenges 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.

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Global Intradermal Injection Industry Set for Explosive Growth at 10.8% CAGR, Reaching US$3.9 Billion by 2032 | FMI

The Global Intradermal Injection Industry is on the cusp of a significant expansion, fueled by advancements in healthcare technology and the growing preference for minimally invasive procedures. According to a recent report by Future Market Insights (FMI), a leading market research firm, the market is projected to reach a staggering US$3,878 million by 2032. This translates to a robust Compound Annual Growth Rate (CAGR) of 10.8% from 2022, highlighting a rising demand for intradermal injections across various healthcare applications.

A new age of surgical methods has begun, with an emphasis on maximizing results and minimizing waste, thanks to recent technology developments. Reusable intradermal devices are one noteworthy discovery that has a beneficial influence on overall economic productivity and less waste formation.

The use of intradermal delivery systems has gained prominence, supported by compelling evidence from various meta-analyses showcasing a notable reduction in the intensity of adverse events associated with drug administration. This paves the way for a robust and sustainable market growth trajectory in the foreseeable future.

This is one of the major factors that act as one of the leading reasons for increasing the Global Intradermal Injection Industry size of tuberculin syringes. According to the American Cancer Society’s 2022 report, over 1.9 million new cancers are expected to be recorded in the United States in 2022. Also, as per the same source, the risk of having cancer rises dramatically as one gets older, and in the United States, 80% of cancer patients are 55 or older, with 57% being 65 or older. These figures show that the growing geriatric population is expected to have a significant positive impact on the growth of the market.

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Key Takeaways from the Global Intradermal Injection Industry Study

The global Intradermal Injection market is expected to garner a market value of US$ 10,814.47 Million.
The market is projected to exhibit a compound annual growth rate (CAGR) of 10.8% from 2022 to 2032.
The European intradermal Injection market size is anticipated to register commendable growth, with the United Kingdom acquiring a major share.
North America was the leading regional segment in terms of revenue and market share.
Based on the method, normal-sized needles dominate the market.
By application, the tuberculin skin test segment is estimated to hold the largest share.

“The growing burden of chronic diseases has led to a rise in the overall use of syringes, particularly disposable syringes, intradermal jet injectors, microinjections, and ballistic intradermal injections treatment and diagnostic purposes,” says an analyst at Future Market Insights.

Global Intradermal Injection Industry Key Players

Major players are channeling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players who are looking to increase their presence in the market. Key players in the Global Intradermal Injection Industry are Becton Dickinson, Cardinal Health, West Pharmaceuticals Services, Terumo Corporation, Nanopass, Pharmajet, Idevax, Enusung, Crossject, and Hindustan Syringes and Medical Devices.

In May 2022, Stevanato Group S.p.A. signed an exclusive agreement with leading medical device developer and manufacturer Owen Mumford Ltd. for its Aidaptus auto-injector. Adeptus is a 2-step, single-use auto-injector with a versatile design that accommodates both 1 mL and 2.25 mL prefilled glass syringes in the same base device.
In May 2020, Takeda Pharmaceutical Company Limited received approval from the European Commission for the subcutaneous (SC) formulation of Entyvio (vedolizumab), a gut-selective biologic for use as maintenance therapy in adults with moderately to severely active ulcerative colitis (UC) or Crohn’s disease (CD). Entyvio SC is available in both a pre-filled syringe and a pre-filled pen.
Terumo Corporation is a pioneer in hypodermic needle innovation. The company offers a comprehensive platform of precision-engineered needle and needle stick prevention technologies ready for the most challenging applications and high-throughput processing environments. The company helps design and deliver safer, less painful injections to ensure the therapeutic success of the drug product. Some of its products include the Nanopass® 34G Needle for Pen Injectors, the Neolus Needles, SurGuard® Safety Hypodermic Needles, the SurGuard® 3 Safety Hypodermic Needles, and the Terumo 3-Part Syringe.
In May 2021, Crossject announced further strengthening of its partnership with long-term collaborator Cenexi to ramp up industrial-scale manufacturing of the ZENEO® needle-free auto-injection. With this announcement, Cenexi strengthened its positioning on innovation and sterile manufacturing expertise thanks to its human-scale agility and its recognized skills in pharmaceutical development.

More Valuable Insights

In its new offering, Future Market Insights presents an unbiased analysis of the Global Intradermal Injection Industry, presenting a historical analysis from 2017 to 2021 and forecast statistics for 2022-2032.
The study reveals essential insights based on Method (normal-sized needles, Short Needle (Intradermal Microinjection, Microneedle Arrays, and Tattoo Devices], and Without Needle {Intradermal Liquid Jet Devices and Ballistic Intradermal Injectors]), Application (Tuberculin Skin Test, Allergy Test, Local Aesthetics, and Others), and End User (Hospitals, Diagnostic Laboratories, Academics and Research Institutes, and Others) & Region.

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About the Technology at Future Market Insights

The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Key Segments Profiled in the Global Intradermal Injection Industry Industry Survey

Global Intradermal Injection Industry by Method:

Normal Sized Needles
Short Needle
Intradermal Microinjection
Microneedle Arrays
Tattoo Devices
Without Needle
Intradermal Liquid Jet Devices and
Ballistic Intradermal Injectors

Global Intradermal Injection Industry by Application:

Tuberculin Skin Test
Allergy Test
Local Aesthetics
Others

Global Intradermal Injection Industry by End User:

Hospitals
Diagnostic Laboratories
Academics and Research Institutes
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 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 Clinical Research Organization Market Set to Surge, Projected to Reach USD 139.6 Billion by 2033 at a 8.4% of CAGR

The global clinical research organizations market is poised for substantial growth, according to a recent market survey by Future Market Insights (FMI). Valued at USD 58.0 billion in 2022, the market is expected to expand significantly, reaching an estimated USD 139.6 billion by 2033.

This growth trajectory is driven by the increasing complexity of clinical trials, a rising number of biologics, and the growing need for specialized testing services. The demand for outsourced research and development (R&D) services continues to rise as pharmaceutical and biotechnology companies seek to streamline operations and reduce costs.

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The market is driven by the increasing demand for low-cost, effective drug development techniques. Pharmaceutical and biotech businesses often outsource their clinical research activities to CROs in order to benefit from their specialized knowledge, resources, and infrastructure. This allows the companies to focus on their core competencies, such as pharmaceutical discovery and marketing, and rely on CROs to conduct clinical studies.

Key Takeaways:

Market Valuation: The global clinical research organization market was valued at US$ 58.0 billion in 2022.
Future Growth: The market is projected to grow to US$ 139.6 billion by 2033.
Growth Drivers: The expansion is fueled by factors such as the increasing complexity of clinical trials, the rise in biologics, and the growing demand for specialized testing and R&D services.
Industry Dynamics: Pharmaceutical and biotechnology companies are increasingly outsourcing R&D to CROs to optimize efficiency and manage costs effectively.

Competitive Landscape:

The market’s key vendors are concentrating on diversifying their product offerings to strengthen their market share in clinical research organizations and to broaden their presence in developing nations. Pricing strategies, market strategies, technology improvements, regulatory compliance, and acquisition and distribution agreements with other companies to extend their business are the main tactics used by manufacturers to acquire a competitive edge in the market.

For instance:

In January 2020, Charles River announced a scientific collaboration with Takeda Pharmaceutical Company Limited in order to focus on drug discovery in the four core therapeutic areas that Takeda works on. These four therapeutic areas include oncology, gastroenterology, neuroscience, and rare disease. This collaboration focuses on delivering preclinical candidates.
In July 2022, Labcorp launched a new test called the neurofilament light chain (NfL) blood test, which will help in the identification and confirmation of neurodegenerative diseases like multiple sclerosis, Alzheimer’s disease, Parkinson’s disease, and others.

Key Companies Profiled:

Charles River Laboratories
Laboratory Corporation of America Holdings
IQVIA Inc
Parexel International Corporation
ICON plc.
Medpace, Syneos Health
CTI Clinical Trial and Consulting Services
Neuroservices Alliance
QPS Neuropharmacology
MD Biosciences
EphyX Neuroscience

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Key Segments Covered in Clinical Research Organization Industry Research

By Service:

Drug discovery Services
Pre-clinical Services
Clinical Services
Post Approval Services

By Production:

In-house
Outsourced

By Indication:

Oncology
CNS
Cardiovascular Diseases
Metabolic Disorders
Immunology
Respiratory
Musculoskeletal Disorders
Hematological Disorders
Other

By End User:

Pharmaceutical & Biotechnology Companies
Medical Device Companies
Governments & Private Firms
Academic Institutions
Others

By Region:

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

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About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

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Website: https://www.futuremarketinsights.com
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Global Intrathecal Pumps Industry Set for Steady Growth at 5.2% CAGR, Reaching US$383.5 Million by 2032 | FMI Study

The Global Intrathecal Pumps Industry is on track for a stable and promising expansion, driven by the rising application of these devices in pain management and spasticity treatment. According to a recent analysis by Future Market Insights (FMI), a leading market research firm, the market is expected to reach a value of approximately US$383.5 million by 2032. This translates to a steady Compound Annual Growth Rate (CAGR) of 5.2% from 2022 to 2032, reflecting a significant increase from the estimated valuation of US$231.5 million in 2022.

The fact that intrathecal pumps require far smaller amounts of medication than oral ones is one of the main reasons behind the growing demand for these devices. As a result, intrathecal pumps are now seen as the treatment of choice by medical professionals and patients, creating a favorable atmosphere for market growth.

Moreover, the prevalence of chronic pain is increasing globally, which is a major driver of the intrathecal pump market. According to data published by Boston University’s School of Public Health, there are an estimated 1.5 billion cases of chronic pain worldwide, with the incidence of this condition increasing with age. Furthermore, statistics provided by the Centers for Disease Control and Prevention reveal that approximately 50 million Americans suffer from chronic pain, with 20 million experiencing high-impact chronic pain. These numbers are steadily rising, thereby contributing to the growth of the Global Intrathecal Pumps Industry.

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The United States will hold the largest share of the market throughout the Analysis Period

From 2022 to 2032, the Global Intrathecal Pumps Industry is estimated to develop at a CAGR of 5.2% in the United States. The CAGR for the growth of the intrathecal pump market from 2017 to 2021 was 3.5%. According to research by the American Cancer Society, in 2021, over 24 thousand people in the United States experienced a malignant tumor of the brain or spinal cord.

There are now significantly more cancer patients, according to a report recently published by the WHO’s International Agency for Research on Cancer. There are around 14.1 Million cancer patients, according to estimates. Additionally, it was determined that 8.2 Million individuals will lose their lives to cancer each year. The market for intrathecal pumps is expected to rise in the future due to the increase in cancer cases.

Global Intrathecal Pumps Industry: Competition Insights

Some of the key companies operating in the Intrathecal Pumps Market include Medtronic, Smiths Medical, Flowonix Medical Inc., tricumed Medizintechnik GmbH, Teleflex Incorporated, Johnson and Johnson Services, Inc., Durect Corporation, Medallion Therapeutics, Inc., Abbott, Baxter International Inc., Codman & Shurtleff, Inc., DePay Synthes, Summit Medical Group, B Braun Melsungen AG, Becton, Dickinson & Company and Fresenius Medical Care AG & Co. KGaA., and Zimmer Biomet.

Some of the recent developments by key providers of the Global Intrathecal Pumps Industry are as follows:

In January 2021, a US$ 33 Million award was given to Flowonix Medical, a U.S.-based medical device business that specializes in implanted medication delivery systems. A US$ 10 Million debt facility was given as part of the deal by SWK Holdings (SWKH), a specialized finance firm that works with small- and mid-sized commercial-stage life-science enterprises.
In October 2020, to reinforce safety advice regarding proper cleaning procedures for the pumps, Baxter International Inc. issued an urgent device correction for all of its spectrum infusion pumps. The failure to follow the prescribed cleaning procedures reduced the efficiency and effectiveness of the pumps.
In February 2020, a 40 ml pump for intrathecal drug delivery was introduced by Flowonix Medical. It uses a pressure-driven, valve-gated delivery mechanism and has a battery life of more than 10 years, reducing the need for additional surgical procedures.

More Insights Available

In its new offering, Future Market Insights presents an unbiased analysis of the Global Intrathecal Pumps Industry, presenting historical market data (2017-2021) and forecast statistics for 2022-2032.

The study reveals essential insights by Type (Baclofen, Bupivacaine, Clonidine, Morphine, Ziconotide, and Other Types), By Application (Spasticity and Pain), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Key Segments Covered in Global Intrathecal Pumps Industry Survey

By Type:

Baclofen
Bupivacaine
Clonidine
Morphine
Ziconotide
Other Types

By Application:

Spasticity
Pain

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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)

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Global DNA-Based Skincare Market to Experience Robust Growth, Projected to Reach USD 8,192.3 Million by 2033 at a 5.3% of CAGR

The global DNA-based skincare market is on a trajectory of significant growth, with the market size anticipated to increase from USD 4,733.8 million in 2022 to USD 4,907.7 million in 2023. According to Future Market Insights, the market is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2033, ultimately reaching an estimated value of USD 8,192.3 million by 2033.

The growth of the DNA-based skincare market is fueled by increasing consumer awareness about personalized skincare solutions and the rising demand for advanced skincare products tailored to individual genetic profiles.

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Rising consumer demand for wellness and health-related products is expected to fuel future expansion in the market for DNA-based skin care products. A healthy lifestyle improves one’s appearance and overall well-being, and one’s skin condition is a reliable indicator of their general health.

Key Takeaways from the Market Study

Anticipated size of the DNA-based skincare market in 2017 was US$ 4.1 billion.
Global DNA-based skincare market grew at a CAGR of 2.5% between 2017 and 2022.
North America is anticipated to generate the largest DNA-based skincare market share of 37.6% in the upcoming years.
Demand for natural and organic products in Europe has been fueled by the increase in consumer awareness about the risks of adopting skincare products having synthetic chemicals holding a market share of 25.5%.
Under product type, creams dominate the market with a share of 56.2%.
Under distribution channel, the offline distribution channel has a major position in the market with a market share of 68.8%.

“Desire to slow down the signs of aging among millennials is one of the major drivers of the DNA-based skincare market”, Lead Analyst a Future Market Insights analyst.

Key Developments in the DNA-Based Skin Care Market

Personalized Skincare: DNA-based skincare has ushered in a new era of personalization. Companies are using genetic information to create customized skincare products tailored to an individual’s unique genetic makeup. This trend is gaining popularity as consumers seek more effective and personalized medicine solutions.
Advanced DNA Testing: Advances in DNA testing technology have made it easier and more affordable for consumers to access their genetic information. This has fueled the growth of DNA-based skincare, as people can now readily obtain insights into their skin’s specific needs.
Targeted Treatment: DNA analysis allows skincare companies to identify specific skin issues and recommend targeted treatments. This precision approach is replacing the one-size-fits-all model of skincare, leading to more effective results.
Rise in DTC Brands: Direct-to-consumer (DTC) DNA-based skincare brands have emerged, offering consumers the convenience of ordering personalized products online. These brands often provide easy-to-use DNA testing kits, making the process accessible to a broader audience.

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Market Competition

The global market is highly fragmented with the presence of various international and domestic companies. Many companies are gradually shifting towards artificial intelligence to provide individualized suggestions and track daily skin changes to react to the shift in lifestyles. Meanwhile, some of the other key players are striving to develop DNA testing kits for customers to enable them to make informed decisions associated with their genetic composition.

Gi Picco’s, a manufacturer of cosmetic powders in Europe, was purchased by MS Beautilab. The acquisition of Italy’s Gi Picco’s Cosmetics by the Swiss-French subcontractor has resulted in the improvement of its product line and has completed its historical by marking a significant milestone in the company’s expansion strategy.
Milk Makeup and Obagi Cosmeceuticals LLC were acquired by Waldencast Acquisition Corp.

Key Companies Profiled:

ALLÉL
IMAGENE LABS
Genetic Beauty
DNA Skin Institute
EpigenCare
ANAKE
Caligenix
LifeNome
SKINSHIFT
SkinDNA

Key Segmentations in the DNA-Based Skin Care Industry

By Product Type:

Serums
Creams
Others

By Distribution Channel:

Offline
Online

By End Use:

Home User
Wellness Clinics
Salons

By Region:

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

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About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Medical Terahertz Technology Industry Set to Surge at 17.1% CAGR, Reaching US$768 Million by 2032 | FMI Analysis

The Global Medical Terahertz Technology is on the precipice of a remarkable expansion, driven by its groundbreaking applications in healthcare. A recent analysis reveals a market valued at US$135.29 million in 2022. This innovative technology is projected to witness a stellar Compound Annual Growth Rate (CAGR) of 17.1% over the next decade, reaching a staggering US$768.05 million by 2032. This significant growth trajectory underscores the immense potential of terahertz technology in revolutionizing the healthcare landscape.

Terahertz technology is rapidly revolutionizing the pharmaceutical industry, ushering in a new era of innovation and growing market opportunities. Its diverse uses, which include biology, medicine, medical imaging, material spectroscopy, sensing, security, monitoring, and spectroscopy, have established it as a dynamic and flexible force in the business.

The unique and diverse landscape of terahertz technology promises to unlock a wealth of growth opportunities, making it a key driver in the global medical industry. As it continues to evolve and innovate, we anticipate groundbreaking developments in healthcare and beyond.

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Furthermore, due to its high power and picosecond pulse time structure, the Terahertz free-electron laser (FEL) is a robust and versatile source of coherent radiation for THz pulsed imaging, facilitating market expansion.

“In the pharmaceutical industry, terahertz technology is a fast-growing field that is driving market growth due to its applications in biology and medicine, medical imaging, material spectroscopy, and sensing, security, monitoring, and spectroscopy, as well as applications in sensing, security, monitoring, and spectroscopy. This will create ample growth opportunities for the market,” says a lead analyst at FMI

Key Takeaways from the Global Medical Terahertz Technology Industry

By 2032, the global terahertz imaging market is estimated to generate US$ 273.77 million, growing at a CAGR of 23.1%.
North America is expected to hold the largest market share while growing at a rapid 21.6% CAGR.
Europe might contribute US$ 290.88 million to the medical terahertz technologies market by 2032.
As China seeks to modernize its economic infrastructure and expand the number of industries, the Asia Pacific region is predicted to have the fastest market development.

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Competition Landscape in the Global Medical Terahertz Technology Industry

A new generation of Medical Terahertz Technology market entrants is utilizing technological improvements to launch expanded and improved technologies. By the development of these items, these companies obtain a competitive advantage. The fact that these organizations spend on research and development efforts regularly guarantees that they are up to date with customer preferences as well as industry requirements to remain competitive in the marketplace. They are currently working to improve their position in the medical area to obtain a firmer foothold.

Acal Bfi Limited, Advantest Corporation, Teraview Limited, Luna Innovations Inc., Insight Product Company, and Toptica Photonics AG are some of the key players operating the Global Medical Terahertz Technology Industry.

Recent Developments in the Global Medical Terahertz Technology Industry

In April 2022, Advantest Corporation released Euclid, a 3D image viewer for its photoacoustic microscopes. Tomographic images are simply made, and 3D images are automatically shown by superimposing data from a Hadatomo tool on skin melanin, vascular network, and skin structure. This substance is used in dermatological research for both cosmetic and medical purposes.
TeraSense announced in April 2022 the release of its IMPATT-based generator, a powerful wave source with an output power ranging from 0.08 watts to 1.8 watts.
In February 2022, researchers from the Korea Institute of Science and Technology (KIST) investigated the use of label-free THz metamaterials for speedy and accurate differentiation of COVID-19 viral subtypes. Label-free THz metamaterials are utilized to detect COVID-19 virus protein units in this type of virus detection known as biomarker-detecting technology.
In October 2021, Menlo Systems built a branch in China, Shanghai Menlo Systems Quantum Laser Technology Co., Ltd. As a result, the company will be able to strengthen its position in China’s thriving photonics sector. Menlo Systems offers a variety of ultra-stable lasers, terahertz systems, and femtosecond lasers.

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Global Medical Terahertz Technology Industry by Category

By Type

Terahertz Imaging
Terahertz Spectroscopy

By Application

Dentistry
Oncology
Dermatology
Tomography
Biochemistry
Other

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

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Service Bureau Market Set to Double in Value by 2034 with a 6.2% CAGR Growth

The service bureau market had an estimated market size of US$ 25,125.5 million in 2023 and is expected to reach a global market size of US$ 48,206.0 million by 2034, increasing at a CAGR of 6.2% between 2024 and 2034. By 2024, the market for service bureau is likely to reach a valuation of US$ 26,465.2 million.

Growing requirements for regulatory compliance across companies are a driving force behind the service bureau market. Companies look for outsourcing partners that can manage and guarantee compliance with a range of requirements, including financial reporting standards, GDPR, and HIPAA, in order to reduce risks and stay out of trouble.

Serving the growing demand for remote work solutions is a chance for the service bureau market. The need for virtual back-office support services, such as document management, IT infrastructure management, and virtual help, has increased due to the growth of telecommuting and distributed teams. This has created opportunities for service providers to deliver innovative options for remote work.

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Key Takeaways from the Market Analysis

The global demand for service bureau services reached US$ 20,329.4 million in 2019.
It is expected that the data processing service bureaus would attain a 26% market share in 2024.
It is projected that the large enterprises will dominate the market by enterprise size and gain a 32.17% market share in 2024.
The market in the United States is anticipated to rise through 2034 at a 3% CAGR.
It is projected that the service bureau ecosystem in Germany will evolve at a 5.7% CAGR between 2024 and 2034.

“The growing need for specialized and affordable outsourcing solutions, especially from small and medium-sized businesses looking to streamline operations and concentrate on core business activities, is one factor propelling the service bureau market,” says an FMI analyst.

Competitive Landscape

Advancements in the global service bureau market are mostly concentrated on using innovative technology to boost customer results and expedite processes. Predictive analytics for decision-making, cloud-based platforms for scalability as well as accessibility, and AI-driven automation for data processing are areas where major firms are investing.

Cybersecurity solutions are given a lot of attention in order to protect sensitive data and guarantee regulatory compliance. With the help of these advancements, service delivery should be more accurate, agile, and efficient, enabling businesses to become more productive and competitive in the rapidly changing business environment.

Service bureau startups are disrupting established paradigms by providing flexible, adaptable solutions customized for specialized markets. They meet the changing demands of small and medium-sized businesses looking for creative outsourcing solutions by utilizing advanced technologies like machine learning and blockchain to provide affordable and scalable services.

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Key Developments

In 2023, Hyland has announced the newest product updates, which include the company’s new Intelligent Document Processing (IDP) solution, important customization possibilities in Hyland’s alfresco platform, and increased Nuxeo capabilities. Hyland has updated its line of healthcare products and added significant integrations for its OnBase platform.

Key Segments Profiled in the Service Bureau Market

By Types:

Data Processing Service Bureaus
Payroll Service Bureaus
Printing and Mailing Service Bureaus
IT Service Bureaus
Others

By Enterprise Size:

Small Offices (1-9 employees)
Small Enterprises (10-99 employees)
Medium-sized Enterprise (100-499 employees)
Large Enterprises (500-999 employees)
Very Large Enterprises (1,000+ employees)

By Industry:

Finance
Healthcare
Retail
Manufacturing
Government
Education
Others

By Region:

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

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Enteral Feeding Devices Market to Expand at a 4.0% CAGR, Expected to Reach USD 4.1 Billion by 2033 at a 4.0% of CAGR

The global enteral feeding devices market is poised for significant growth over the next decade, expanding at an average compound annual growth rate (CAGR) of 4.0% during the forecast period. In 2023, the market is valued at approximately USD 2.8 billion and is projected to reach an estimated USD 4.1 billion by 2033.

This robust growth trajectory is driven by several key factors, including increasing prevalence of chronic diseases, rising geriatric population, and advancements in medical technology. The growing awareness about the benefits of enteral feeding in improving patient outcomes, particularly in critical care settings, further supports the market expansion.

As the market evolves, industry leaders are expected to focus on innovative product development and strategic partnerships to cater to the increasing demand for efficient and reliable enteral feeding solutions. The ongoing investments in research and development are likely to result in more user-friendly and technologically advanced feeding devices, enhancing patient comfort and care quality.

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The enteral feeding devices market’s positive outlook underscores its critical role in the healthcare sector, addressing the nutritional needs of patients who cannot consume food orally. With sustained growth and continuous innovations, the market is set to make significant strides in improving patient care worldwide.

Key Takeaways:

Market Growth: The enteral feeding devices market is projected to grow at a CAGR of 4.0% from 2023 to 2033.
Current and Future Valuation: The market holds a current valuation of US$ 2.8 billion in 2023 and is expected to reach US$ 4.1 billion by 2033.
Driving Factors: Key drivers of this growth include rising incidences of chronic diseases, technological advancements in medical devices, and an aging global population necessitating increased nutritional support.
Market Dynamics: The market dynamics are influenced by healthcare providers’ increasing focus on homecare settings, enhancing patient comfort and reducing hospital stays.

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Enteral Feeding Devices Market — Regional Analysis

North America and Europe are expected to cumulatively account for nearly 70% of overall market value, with the former holding 40% of the share.
The dominance of these regions is attributed to favorable medical policies and the strong presence of market players.
Asia Pacific is forecasted to register tremendous growth on the back of rising healthcare expenditure, the presence of a large patient pool, and a burgeoning number of preterm births.

Enteral Feeding Devices Market — Competitive Landscape

Major market players operating in the market include ICU Medical, Boston Scientific Corporation, Fresenius Kabi, Abbott Laboratories, Cook Medical, Cardinal Health, Inc., Becton Dickinson & Company, and Dynarex Corporation among others. Market players are focusing on developing innovative products with low weight to increase portability.

On these lines, Infinity Feeding Pumps launched the Zevex EnteraLite Infinity Feeding Pump, which weighs less than one pound.

Key Contributors:

Abbott Nutrition
ALCOR Scientific
Applied Medical Technology
B. Braun Melsungen AG
Boston Scientific
CONMED Corporation
Cook Medical
Cardinal Health, Inc.
Becton, Dickinson, and Company
Fresenius Kabi
Owens & Minor, Inc. (Halyard Health)
Medline
Moog
Nestlé Health Science
Danone SA
Vygon SA
Amsino International, Inc.
Fuji Systems Corp
Neomed
Smiths Medical (Smiths Group)

Key Segments:

By Product Type:

Enteral Feeding Pumps
Nasogastric Tubes
Nasojejunal Tubes
Percutaneous Endoscopic Gastrostomy (PEG) Kit
- PEG Balloon Kit
- PEG Non-Balloon Kit
Replacement G-Tubes
- Replacement Balloon G-Tubes
- Replacement Non-Balloon G-Tubes
Percutaneous Endoscopic Gastro-Jejunostomy (PEGJ) Tubes
Low-profile Tubes
- Low-profile Balloon Tubes
- Low-profile Non-Balloon Tubes

By Age Group:

Adult
Pediatric

By End User:

Hospital
Clinic
Ambulatory Surgical Center
Home Care Setting

By Region:

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

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About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Dental Simulator Industry Set for Soaring Growth at 7.8% CAGR, Reaching US$780.5 Million by 2033 | FMI Study

The Global Dental Simulator Industry is on an upward trajectory, with a projected market value of a staggering US$780.5 million by 2033. This translates to a robust Compound Annual Growth Rate (CAGR) of 7.8% from 2023. This significant growth highlights the increasing adoption of dental simulators for dental education and training purposes.

The increasing need for simulation-based training in dentistry clinics is what is behind this exponential rise. Dental simulators, which offer a more affordable option to more conventional techniques utilizing cadavers and study models, are becoming essential instruments for dental teaching and training.

One of the pivotal factors fueling this growth is the increasing adoption of human-like texture dental simulators, equipped with haptic feedback responses. This trend is particularly pronounced in dental schools across developing countries, where awareness of advanced training methodologies is on the rise. The realistic simulation offered by these dental simulators not only enhances the learning experience but also contributes to substantial cost savings.

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Forces Shaping the Global Dental Simulator Industry: Advancements, Safety, and Cost-Effectiveness

Affordable Training Options

When compared to more expensive dental mannequins or working on real patients, dental simulators offer a more affordable training option. Simulators enable numerous students to practice at once, minimizing the need for one-on-one supervision and maximizing the use of available materials. Dental schools, training facilities, and practitioners find dental simulators to be an appealing option because of their affordability.

Modernization of Dental Education

For dental students, dental simulators offer a lifelike and engaging learning environment. There is an increasing need for cutting-edge training tools that help improve practical abilities as dentistry education progresses. By bridging the gap between academic knowledge and actual practice, dental simulators can enhance learning results. These factors positively stimulate the dental simulator industry.

Growing Attention to Patient Safety

In dentistry, patient safety comes first. Dental experts can practice different treatments with dental simulators without having to worry about hurting actual patients. They enable dentists to learn crucial decision-making abilities and improve patient safety by simulating difficult dental scenarios, crises, and problems. Dental simulators have prospects in the market due to the increased awareness of and emphasis on patient safety.

High Price

Dental simulators are high-tech, complex pieces of equipment that cost a lot to purchase. The expensive price of dental simulators might be a leading barrier. Especially for universities or small dental practices with tight finances. Potential buyers may encounter difficulties and see a reduction in dental simulator market penetration. Due to the initial investment, maintenance, and training expenditures.

Technical Restriction

Dental simulators must faithfully reproduce dental practices and situations that exist in the actual world. A fully realistic simulation experience might not be possible due to technical issues. The overall efficacy and acceptance of dental simulators might be impacted by elements like insufficient haptic input, visual accuracy, or difficulties recreating complicated dental operations. These curbs the growth of the dental simulator industry.

Growing Demand for Practical Training

Hand-eye coordination and accurate manual dexterity are needed for dental operations. For dental students and professionals to learn and hone these abilities, hands-on instruction is crucial. Dental simulators allow users to practice and refine their techniques in a controlled environment while delivering a realistic simulation of dental treatments.

Regulations and Accreditation Requirements

Standardized training and competency evaluations in dentistry are receiving more attention from regulatory organizations and educational institutions. Dental simulators meet these needs by providing a standardized platform for instruction and assessment.

They make it possible for educators and oversight organizations to impartially evaluate the competence of dental students and practitioners. Ensuring that they adhere to the required requirements.

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Global Dental Simulator Industry Key Takeaways

North America is anticipated to have 39.7% of the dental simulator industry by 2033.
The dental simulator industry may be controlled by Europe to the tune of 30.6% by 2033.
By 2033, the dental simulator market in the United States is expected to hold a 37.6% market share.
By 2033, it is expected that Germany to have an 8.1% market share.
By 2033, Japan might hold a 3.7% market share.
Through 2033, a CAGR of 5.9% of the global market is expected to be accounted for by Australia.
The Chinese market could thrive at a 9.4% CAGR between 2023 and 2033.
The dental simulator market in India is expected to expand at a CAGR of 7.7% between 2023 and 2033.
The United Kingdom dental simulator market is anticipated to expand between 2023 and 2033, with a CAGR of 7.8%.
The hardware segment to gain a market share of 72.1% by 2033, according to the component category.
By category of application, the dental training and education segment is expected to reach a market share of 78.4% by 2033.
By category of end-user category, the dental schools segment is expected to reach a market share of 67.8% by 2033.

Global Dental Simulator Industry Competitive Landscape

Global industrial competition is moderate. To acquire a competitive advantage over one another, the leading dental simulator manufacturers engage in the introduction of new solutions. Similarly, in software and hardware advancements, acquisitions, and collaborations.

Recent Advancements

The collaboration between Dentsply Sirona and the University of Toulouse in France was announced in January 2022. To make the company’s simulation units available as preclinical laboratory tools.

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Global Dental Simulator Manufacturers:

Dentsply Sirona
Nissin Dental Products Inc.
KaVo Dental
HRV Simulation
Navadha Enterprises
VOXEL-MAN
Image Navigation
Tangshan UMG Medical Instrument Co., Ltd.
Dental Art S.p.A.
3Shape A/S

Global Dental Simulator Industry Key Segments

By Component:

Hardware
Software

By Application:

Dental Training & Education
Treatment Planning

By End Use:

Dental Schools
Hospitals & Clinics

By Region:

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

Author

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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Dairy Ingredients Market: Sustained Growth and Rising Demand Amidst Key Developments

The global dairy ingredients market continues its upward trajectory, buoyed by increasing consumer demand for dairy-based products across various segments. Dairy ingredients, encompassing a wide array of products such as milk powder, whey protein, lactose, casein, and others, serve as essential components in the food and beverage industry, catering to diverse consumer preferences and nutritional needs.

The dairy ingredients market is predicted to grow at a CAGR of 6% over the forecast period, according to FMI’s analysis. The industry’s value is anticipated to increase from USD 66 Billion in 2023 to USD 118 Billion by 2033 end.

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Demand Points:

Health-conscious Consumers: Rising health awareness among consumers is propelling the demand for dairy ingredients, driven by their perceived nutritional benefits and functional properties.
Convenience Foods: The growing demand for convenience foods and ready-to-eat products is boosting the incorporation of dairy ingredients in processed foods and snacks.
Functional Foods: Increasing interest in functional foods and beverages fortified with added nutrients and health-promoting ingredients is fueling the demand for dairy-based ingredients.

Growth Points:

Technological Advancements: Advancements in dairy processing technologies are enhancing the efficiency of ingredient extraction and production, leading to increased market growth.
Innovation in Product Offerings: Continuous innovation in product formulations and packaging techniques is broadening the scope of dairy ingredient applications, driving market expansion.
Expansion of Distribution Channels: The expansion of distribution networks, including e-commerce platforms and retail outlets, is facilitating greater market penetration and accessibility of dairy ingredients.

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Key Takeaways from the Dairy Ingredients Market:

The United States dairy ingredients market is predicted to hold major share in the global market. As per FMI’s estimated, the market worth would stand at a lucrative US$ 41.8 Bn by 2033. Over the coming years, the market would accelerate at 5.8% CAGR.
After U.S., China would lead the global market by achieving the market size of US$ 8.5 Bn by 2033. In the span of next 10 years, the Chinese market would expand at a CAGR of 5.5%.
Under the product type category, the proteins segment holds the largest market share. This could be attributed to the rising health-conscious consumers who are incorporating proteins in their diet by consuming dairy products or protein supplements. The segment is forecast to grow at a CAGR of 5.9%.
The growing preference for powdered dairy ingredients due to extended shelf-life and wide applicability is propelling dairy ingredients market. The powdered form of dairy ingredients is predicted to grow at a CAGR of 5.6%.

Key Development Points:

Sustainability Initiatives: Dairy ingredient manufacturers are increasingly focusing on sustainability initiatives, including eco-friendly production practices and packaging solutions, to align with consumer preferences and environmental concerns.
Clean Label Trends: The rising demand for clean label products is prompting manufacturers to develop dairy ingredients with minimal processing and natural additives, in response to evolving consumer preferences for transparency and authenticity.
Partnerships and Collaborations: Strategic partnerships and collaborations among key players in the dairy industry are fostering innovation and market expansion, driving the development of novel dairy ingredient solutions.

Regional Analysis Points:

North America: The North American dairy ingredients market is witnessing steady growth, fueled by increasing consumption of dairy-based products and growing demand for protein-rich foods among health-conscious consumers.
Europe: Europe holds a significant share in the global dairy ingredients market, driven by a well-established dairy industry, robust infrastructure, and strong consumer demand for premium quality dairy products.
Asia Pacific: The Asia Pacific region is emerging as a lucrative market for dairy ingredients, supported by rapid urbanization, changing dietary patterns, and rising disposable incomes, particularly in countries like China and India.

Key Segments

By Product Type:

Proteins
Milk Powder
Milk Fat Concentrates
Casein and Caseinates
Lactose & Its Derivatives
Whey
Other Types

By Form Type:

Powder
Liquid

By Application:

Bakery & Confectionery
Dairy Products
Sports Nutrition Products
Infant Formulas
Cosmetics
Pharmaceuticals
Other Applications

By Distribution Channel:

E-Commerce
Specialty Retailers
Supermarket & Hypermarket
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 over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

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