Cardiac Assist Device Market is Expected to Reach US$2.48 Billion With Consistent Growth Rate of 6.1% CAGR

Cardiac Assist Device Market
Cardiac Assist Device Market

The global cardiac assist device market is expected to rise significantly, reaching US$2.48 billion by 2033. With a consistent growth rate of 6.1% throughout the course of the projection period, the market is expected to attain a considerable growth trajectory and reach US$1.37 billion by 2023.

In an attempt to innovate in the cardiac assist device market, major players in the industry have increased their R&D spending. Less invasive implantation procedures are made possible by small centrifugal pumps, further enhancing patient comfort and reducing surgical risks. The producers’ efforts are concentrated on this.

The market for cardiac assist devices is not without challenges, despite its bright future. High costs and associated risks may limit market growth, especially when it comes to ventricular assist devices. The cost of these devices may be prohibitive for patients in developing countries, which would limit their adoption and accessibility. Medical practitioners recommend ventricular assist devices, but they also alert patients to potential risks such infections, suction events, and pump thrombus.

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It will take continual research and development to improve device safety and reduce complications in order to address these issues.
The industry for cardiac assist devices is anticipated to keep growing. Technological developments together with rising knowledge and use of less intrusive remedies should propel market expansion.
The creation of individualized and customized equipment suited to each patient’s requirements enhances results and patient satisfaction.

Key Takeaways:

  • The cardiac assist devices industry is anticipated to expand at a rate of 6.4% from 2023 to 2033 in the United Kingdom.
  • In 2022, the market for cardiac assist devices in Germany held an 11.2% share globally.
  • Ventricular assist devices are likely to dominate the market by drug class, accounting for around 62.49% share in 2022.
  • The hospital pharmacies sub-segment, in terms of end-user, is predicted to maintain a value share of 79.8% in 2022.
  • The cardiac assist devices industry in India is forecasted to advance at a CAGR of 5.1% during the forecast period.

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How is the Competitive Landscape in the Cardiac Assist Devices Industry Structured? 

As per FMI’s analysis, continuous innovation and gradation in cardiac assist devices have led to intense competition among top market players.

Key players are focusing on new product launches and gaining approvals from regulatory bodies to stay in the competition. Nearly 75% of the global market share is accounted for by the top 7 players operating in the cardiac assist devices market.

Organizations are also adopting winning strategies such as collaborations and mergers among key players. These strategies are also adopted by regional players to gain a leading position in the industry. 

Key Players Operating in the Market

  • Terumo Corporation
  • Medtronic PLC
  • Abbott Laboratories
  • Abiomed Inc.
  • Teleflex Incorporated
  • Maquet GmbH
  • BerlinHeart GmbH
  • Others 

Developments in the Market:

  • In June 2021, Abbott Laboratories announced that the company can support the expanded use of a mechanical circulatory support device, HEARTMATE 3™ Heart Pump, for the effective treatment of heart failure.
  • In February 2021, CARMAT, the leading designer and developer of the world’s most advanced artificial heart, received approval from the United States of America Food and Drugs Administration (FDA) to use the new version of its artificial heart in the US Early Feasibility Study (EFS).

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 Market by Category:

By Product Type:

  • Ventricular Assist Devices (VAD)
    • Left Ventricular Assist Device (LVAD)
    • Right Ventricular Assist Device (RVAD)
    • Biventricular Assist Device (BIVAD)
    • External Ventricular Assist Devices
  • Intra-Aortic Balloon Pump

By Modality Type:

  • Transcutaneous
  • Implantable

By End User:

  • Hospital
  • Ambulatory Surgical Centers

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East & Africa (MEA)

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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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Southeast Asia CMMS Market Soars to US$ 101.9 Million in 2023, Expected to Reach US$ 226.3 Million by 2033

In the year 2023, the South East Asia Computerized Maintenance Management Systems (CMMS) market achieved a remarkable valuation of US$ 101.9 million. This dynamic market is poised for substantial growth, with projections indicating it will surge to an estimated value of US$ 226.3 million by the year 2033. The expected growth represents a compelling Compound Annual Growth Rate (CAGR) of 8.3% from 2023 to 2033.

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Key Takeaways

  • The South East Asia CMMS market is projected to grow at an impressive CAGR of 8.3% from 2023 to 2033, reaching a valuation of US$ 226.3 million by 2033.
  • Cloud-based CMMS systems are gaining prominence for their accessibility, scalability, and cost-effectiveness.
  • Mobile CMMS applications are becoming increasingly popular due to the proliferation of smartphones and tablets.
  • The market currently accounts for approximately 6% of the enterprise asset management market, underscoring its substantial growth potential.
  • The industrialization in South East Asia is driving the need for efficient maintenance processes, making CMMS software a crucial asset.
  • Challenges include integration within existing infrastructure and workforce training.
  • Customized solutions tailored to regional and industry-specific demands will be key to market success.

Drivers and Opportunities

The CMMS market in South East Asia is undergoing a transformative phase, driven by several key factors. One significant trend is the increasing adoption of cloud-based CMMS systems. These cloud solutions offer numerous advantages, including easy accessibility, scalability, and cost-effectiveness. This shift is attributed to the growing awareness among businesses about the benefits of digitalizing maintenance operations.

Another driving force behind this market’s growth is the proliferation of smartphones and tablets in South East Asia. Mobile CMMS applications are gaining traction, enabling maintenance personnel to access and update critical data from anywhere, enhancing operational efficiency and responsiveness. Furthermore, the CMMS market currently represents approximately 6% of the enterprise asset management market, reflecting its substantial potential for expansion.

Competitive Landscape – Regional Trends

South East Asia’s rapid industrialization over the past few decades has resulted in an upsurge of manufacturing plants, power facilities, and industrial complexes. These infrastructures require consistent maintenance and repairs to ensure optimal functionality. CMMS software emerges as a vital tool in streamlining and effectively managing these maintenance processes, positioning the market as an essential contributor to the region’s industrial growth.

Restraints

While the South East Asia CMMS market displays immense growth potential, it also faces certain challenges. These include the need for effective integration of CMMS systems within existing infrastructure and the requirement for training and upskilling the workforce to maximize the benefits of these systems. Overcoming these hurdles will be crucial to unlocking the market’s full potential.

Region-wise Insights – Category-wise Insights

The South East Asia CMMS market is characterized by diverse regional dynamics and specific industry requirements. Different countries within the region may prioritize various categories of CMMS, ranging from manufacturing to energy. Tailoring solutions to meet these unique demands will be pivotal in capitalizing on market opportunities.

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South Asia CMMS Market Outlook by Category

By Solution:

  • Computerized Maintenance Management Systems (CMMS) Software
    • Cloud-based
    • Web-based
    • On-premise
  • Services
    • Consulting Services
    • Integration & Implementation Services
    • Support & Maintenance

By Enterprise Size:

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

By Industry:

  • Finance
    • Banking
    • Insurance
    • Investment/Securities
  • Manufacturing & Resources
    • Discrete Manufacturing
    • Process Manufacturing
    • Resource Industries
    • Agriculture
  • Distribution Services
    • Retail
    • Wholesales
    • Transportation /Logistics Services
    • Warehousing & Storage
    • Shipping
  • Services
    • IT/Professional Services
    • Consumer & Personal Services
    • Media, Entertainment & Publishing
    • Travel & Hospitality
    • Legal Services
  • Public Sector
    • Government (State/Central)
    • Education
    • Healthcare
    • Aerospace & Defense
    • Non-profit
  • Infrastructure
    • Telecommunication
    • Energy & Utilities
    • Building & Construction

By Country:

  • Singapore
  • Malaysia
  • Thailand
  • Philippines
  • Vietnam
  • Indonesia
  • Rest of South East Asia

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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.

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Drug of Abuse Testing Market Expected Growth at 5.3% CAGR, Driven by US$2.69 Billion by 2033

Drug of Abuse Testing Market
Drug of Abuse Testing Market

The global drug of abuse testing market is expected to increase at a predicted Compound Annual Growth Rate (CAGR) of 5.3% from 2023 to a valuation of US$2.69 billion by 2033.

Growth in the elderly population can be ascribed to the usage of high dosage prescription opioids for pain relief, which has led to an increase in opioid dependence. Patients with heart conditions, cancer, and arthritis frequently have chronic pain. Although doctors prescribe opioids to treat pain, overdosing can be lethal.

As a result, producers are introducing quick, precise, disposable, and user-friendly drug misuse testing kits to identify drug dependence in senior citizens. This suggests that there will be profitable opportunities for new competitors throughout the evaluation stage.

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Key Takeaways:

  • The drug abuse testing market is estimated to secure a valuation of US$ 2.69 billion in 2033 with a CAGR of 5.3% during the forecast period.
  • In the historical period, the market secured a valuation of US$ 1.5 billion in 2022.
  • The United States dominates the global market by capturing a maximum share of 25.5% during the forecast period.
  • Germany is significantly driving the global market by registering a share of 4% by 2033.
  • With a share of 3.3%, Japan is securing a significant share in the global market during the forecast period.

How are Key Players Adding Value in the Global Market?

Several prominent players consolidates the market presence globally. These players are developing innovative products by adopting advanced technologies. They offer improved and high-quality products to their consumers as per their needs.

Key players are adopting various marketing methodologies to elevate the global market. These marketing methodologies are partnerships, mergers, acquisitions, collaborations, product launches, and agreements. The key players are conveniently provided delivery of their products and services through their distribution networks.

They are marketing and promoting their products in social media, online retailers, and offline platforms to increase their sales volume. These players are significantly expanding the market by providing awareness and educating their customers at trade shows, exhibitions, and seminars.

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Competitive Landscape:

The top 5 players operating in the global market comprise Quest Diagnostics, Roche Holding AG, Siemens AG (Siemens Healthineers), and Thermo Fisher Scientific, Inc., the top players accounting for maximum sales in the market.

Leading players operating in the global drug of abuse testing market are focusing on research and development to launch novel testing tools that are more effective and accurate. Players also invest in mergers, acquisitions, collaborations, and partnerships to expand their global footprint.

Other Essential Players in the Global Market are:

  • Quest Diagnostics
  • Roche Holding AG
  • Thermo Fisher Scientific, Inc.
  • Siemens AG (Siemens Healthineers)
  • Abbott Laboratories (Alere, Inc.)
  • Shimadzu Corporation
  • Express Diagnostics International Inc.
  • Drägerwerk AG & Co. KGaA
  • Laboratory Corporation of America Holdings.

Drug of Abuse Testing Market by Category

By Drug Type:

  • Psychostimulants
  • Narcotic
  • Cannabinoids
  • Sedatives
  • Others

By Technique:

  • Immunoassay
  • Chromatography
  • Rapid Testing

By End User:

  • Hospitals
  • Diagnostics Laboratories
  • Forensic Laboratories
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and 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.

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Global Coagulation Analyzer Industry s anticipated to grow at a modest pace of 6.6% CAGR and surpass a valuation of US$ 9.2 Billion by 2034 | FMI

Global Coagulation Analyser Industry
Global Coagulation Analyser Industry

The Global Coagulation Analyzer Industry is poised for steady growth, according to a recent market analysis. The market, currently valued at US$ 4.8 billion in 2024, is expected to climb at a moderate Compound Annual Growth Rate (CAGR) of 6.6%, exceeding a valuation of US$ 9.2 billion by 2034.

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Over the past decade, the healthcare sector has been expanding remarkably, following the advent of artificial Intelligence and the Internet of Things integrated medical devices. Advancements in technology have created impressive scope within the medical sector for diagnostics and therapeutics.

The report offers extensive data sets validating key trends impacting growth in the Global Coagulation Analysers Industry. It offers insights into strategies adopted by the key players and addresses the concerns that will challenge the growth of the Global Coagulation Analysers Industry. With our extensive research and information about the past, current, and future market scenario, the Global Coagulation Analysers Industry report will help and identify the concerns, for a smooth sail of small & medium as well as large enterprises.

Hemostasis analyzers are medical devices used to assess blood clotting function in patients. They measure the time it takes for blood to clot and the strength of the clot that is formed.

There are different types of coagulation analyzers, including manual and automated instruments. Manual coagulation analyzers require trained laboratory personnel to perform the test, while automated analyzers can perform tests automatically without the need for manual intervention.

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Global Coagulation Analyzer Industry: Segmentation 

By Product:

  • Standalone Analyzers
  • Table Top Analyzers
  • Portable Analyzers

By End User:

  • Hospitals
  • Clinical Laboratories
  • Others

Competitive Analysis

Prominent Global Coagulation Analyzer Industry Players

  • Meril Life Sciences
  • Robimes India Pvt. Ltd.
  • Bpc Biosed Srl
  • Hycel, Eurolyser
  • Helena Laboratories
  • Diagnostica Stago SAS
  • Beijing Succeeder Technology Inc.
  • A&T Corporation
  • Genrui Biotech Inc.
  • Bio Group Medical System
  • Others

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Why Future Market Insights?

  • Comprehensive analysis of evolving purchase patterns across different geographies
  • Detailed insights of market segments and sub-segments for historical as well as forecast period
  • A competitive analysis of  prominent players and emerging players in the Global Coagulation Analysers Industry
  • Detailed information about the product innovation, mergers, and acquisitions lined up in upcoming years
  • Groundbreaking research and market player-centric solutions for the upcoming decade according to the present market scenario

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 areas such as 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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North America Enterprise Video Market is Anticipated to Expand at 11% CAGR and is Likely to Cross US$ 44,299.9 Million by 2033 End | Future Market Insights, Inc.

The North American enterprise video market was worth $15,647.2 million in 2023. The market is expected to grow at a CAGR of 11.0% from 2023 to 2033. By 2033, its worth is expected to be at US$ 44,299.9 million.

The industry for video-based goods and services defines the North American enterprise video market. Enterprises use them to encourage training, cooperation, and communication.It includes streaming media, video walls, digital signage, and video conferencing. It also provides services including video hosting, video creation, and video analytics.

Several business video solution providers use cloud computing technology to deliver their goods and services. A cloud-based business video solution provides end users with a single communication platform.

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Businesses are discovering that video, a highly engaging medium, might help them interact with their clients and staff more effectively. Businesses can boost engagement and enhance conversions by using video in their marketing and communication efforts.

These are also becoming more inexpensive. Enterprise video platforms are nowadays available to businesses of all sizes. More businesses are utilizing video in their marketing and communication strategies as the cost of video production and distribution continues to drop.

High-speed internet accessibility has significantly boosted enterprise video sales in North America. It has gotten simpler for businesses to implement video communication and collaboration solutions as more employees have access to quick and dependable internet connections.

Key Takeaways:

  • North America enterprise video industry witnessed an average CAGR of 7.0% in the historical period from 2018 to 2022.
  • The United States is projected to generate a share of 79.4% in 2023 in North America market.
  • Canada enterprise video market is set to exhibit a CAGR of 15.1% in the next ten years.
  • By solution, the video conferencing category is estimated to hold a market share of 66.8% in 2023.
  • By deployment, the cloud-based deployment segment held a market share of 42.7% in 2022.

“It is now simpler for businesses to embrace and use video communication & collaboration tools owing to the widespread availability of cloud-based enterprise video solutions. They benefit from greater flexibility and scalability thanks to cloud-based technologies. They can also simply adjust their usage based on their needs and access video tools from any location thanks to these,” – says a lead analyst at FMI.

Competitive Landscape:

A range of video services, including live streaming, video on demand, video conferencing, and webinars, are available from enterprise video service providers across North America. They are able to meet the varied needs of their customers by offering a broad variety of services.

Security and compliance elements are being prioritized by providers due to the growing need for secure and compliant video content. A few of these include encryption, access restrictions, and password protection.

For instance,

  • Adobe Systems Incorporated debuted its new Adobe Video product in June 2021. To assist businesses in swiftly and effectively creating and managing videos, it includes sophisticated analytics and collaboration tools.

Key Companies Profiled:

  • Cisco
  • Zoom
  • Avaya
  • Adobe
  • Brightcove
  • Kaltura
  • Microsoft
  • Google
  • IBM Corporation
  • Vimeo
  • Qumu Corporation

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Get More Valuable Insights:

In this report by Future Market Insights (FMI), the North American enterprise video market is segmented into five key sections. These include solution (video conferencing, video content management, webcasting tool), deployment (cloud-based, web-based, on-premises), enterprise size (small offices, small enterprises, medium-sized enterprises, large enterprises, very large enterprises), application (corporate communications & collaboration, training & developments, client engagement, digital marketing management), industry (finance, manufacturing & resources, distribution services, services, public sector, infrastructure), and country.

About Technology Division at Future Market Insights (FMI):

Expert analysis, strategic recommendations, and actionable insights- the technology team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on technology, of which 100+ reports are specifically on solutions, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the technology industry.

Market Outlook by Categories:

By Solution:

  • Video Conferencing
  • Video Content Management
  • Webcasting Tool
  • Others

By Deployment:

  • Cloud-based
  • Web-based
  • On-premises

By Enterprise Size:

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

By Application:

  • Corporate Communications & Collaboration
  • Training & Developments
  • Client Engagement
  • Digital Marketing Management
  • Others

By Industry:

  • Finance
    • Banking
    • Insurance
    • Investment/Securities
  • Manufacturing & Resources
    • Discrete Manufacturing
    • Process Manufacturing
    • Resource Industries
    • Agriculture
  • Distribution Services
    • Retail
    • Wholesales
    • Transportation/Logistics Services
    • Warehousing & Storage
    • Shipping
  • Services
    • IT/Professional Services
    • Consumer & Personal Services
    • Media, Entertainment & Publishing
    • Travel & Hospitality
    • Legal Services
  • Public Sector
    • Government (State/Central)
    • Education
    • Healthcare
    • Aerospace & Defense
    • Non-Profit
  • Infrastructure
    • Telecommunication
    • Energy & Utilities
    • Building & Construction

By Country:

  • United States
  • Canada

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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:      

Nandini Singh Sawlani 

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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Companion Animal Specialty Drug Market is Leading Global Growth at a CAGR of 5.42% Through 2032, Driving Global Growth of US$ 56,828.56 Million.

Companion Animal Specialty Drug Market
Companion Animal Specialty Drug Market

The global companion animal specialty drug market  is projected to expand at a 4.21% CAGR, which is a reasonable rate. The market is expected to be worth US$ 37,624.67 million in 2022. The companion animal specialty medicines market is expected to reach a peak value of US$ 56,828.56 million by 2032. The experts at Future Market Insights have determined a historical CAGR of 5.42% for the relevant market.

The United States has seen an annual surge in pet adoption of 50% since the early epidemic phase in 2020. The growing pet adoption rate meant that families were spending more money on the health and well-being of their pets. Many people view their pets as members of the family. Additionally, the market for animal insurance companies expanded considerably.

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One important aspect driving up demand for animal nutrition and behavioral products and driving up sales is the rise in pet adoption. Over the past few years, there has been a sharp increase in demand for anti-obesity medications due to the rising rate of obesity in pets.

During the FQ-20, more people adopted dogs and cats as pets as a result of the COVID-19 outbreak and the ensuing worldwide shutdown. Dog adoption is fairly common, particularly among the elderly population. It is anticipated that this will increase demand for pet nutrition, skin care, and antibiotics.

Key Takeaways

  • Urbanization and trend of nuclear families have been greatly helpful in increasing market share of companion animal drug market.
  • People have started considering pets as their family member and this led to increase in overall expenditure of a family, as a result this benefitted the companion market.
  • Increase in rising pet diseases have provided the industry with a positive push to manufacture more companion drugs to meet the demand
  • Industrial growth can likely be attributed to a rise food-borne and zoonotic diseases.
  • Increase in per capita income of urban population, have enabled people to take better care of their pets by means of diagnosis, vaccination, mitigation, and treatment of diseases such as kidney diseases, heartworms and Lyme diseases, which resulted in giving a boost for companion animal specialty drug market share.
  • COVID-19 had a positive impact on pet adoption rate, with a rise of 50% each year
  • Technological advancement has been a strong driving factor in market progression of companion animal drug market

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Competitive Landscape

Extensive mergers and acquisitions, product portfolios, geographical expansions, and collaborative research initiatives are some of the strategies undertaken by the leading players. Established players in this market have made alliances with different companies to increase their market reach and social media presence. Some well-established players in the US companion animal drug specialty market are:

  • Merck Animal Health
  • Elanco
  • Zoetis
  • Vetiquinol S.A.
  • Virbac, Inc.
  • Norbrook Inc.
  • Dechra Pharmaceuticals
  • Patterson Companies, Inc.
  • Vedco Inc.
  • Covetrus
  • MWI Animal Health
  • Nutramax Laboratories Veterinary Sciences, Inc.
  • Ellevet Sciences

Recent Developments

  • In 2017, Zoetis emerged as a leading player with the highest share of compassion animal specialty drugs, as the company has a considerable and significant market presence, a diverse portfolio of product offerings, and an acute strategic perspective which includes M&As, such as the acquisition of Abaxis in 2018.
  • In July 2019, Zoetis and Colorado state university made an agreement to establish a research lab for the development of immunotherapies for veterinary patients.
  • In August 2020, Elanco Animal Health Incorporatedannounced that it has acquired Bayer Animal Health. The transaction was valued at USD 6.89 billion. This development helped the company to expand itself in the durable animal health industry.

Key Segments in the Companion Animal Specialty Drugs Market:

By Product:

  • Antibiotics
  • Anti-Inflammatory Drugs
  • Parasiticides
  • Heartworm
  • Behavioral Products
  • Nutritional Products
  • Anti-Obesity Drugs
  • Skin Care Products
  • Vaccines

By Distribution Channel:

  • Modern Trade
  • Online Distribution
  • Neighborhood Stores
  • Other Retail Format

By Region:

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

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Global Breast Pump Industry is Expected to Grow at a CAGR of 3.90% to Reach US$ 2,672.30 Million by 2033 | FMI Study

Global Breast Pump Industry
Global Breast Pump Industry

The Global Breast Pump Industry is on track for significant expansion, driven by innovation and a growing focus on maternal health. According to a recent industry analysis, the market is projected to reach US$ 2.67 billion by 2033, reflecting a commendable Compound Annual Growth Rate (CAGR) of 3.90%. In 2023, the market was valued at US$ 1.83 billion.

This anticipated growth is underpinned by a confluence of factors, including technological advancements, increasing awareness about maternal health, and a rising emphasis on convenience for breastfeeding mothers. The Global Breast Pump Industry’s evolution aligns with the evolving landscape of healthcare and family-oriented technologies.

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Since the last few years, the percentage of working women in workplaces across the globe has been declining (46.2% in 2019 as compared to 50.9% in 1990 as per “Catalyst”).

Emerging economies are witnessing impressive growth in healthcare spending. This can be attributed to improvements in healthcare technology and changing lifestyles, which is fuelling the demand for breast pumps among urban women. According to WHO, global healthcare spending rose by 2.4% in 2014 over 2013. Healthcare spending is growing at a rate of 5% in developing regions. A rise in healthcare expenditure is expected to boost the overall adoption of breast pumps among women, especially in the Asia Pacific.

Breast pump adoption is as high as 85% among breastfeeding women at 3 months post-birth. Furthermore, marketplace discussions indicate that the availability of breast pump accessory products will also encourage the adoption of electric breast pumps in developed markets. In this regard, infant product manufacturers are increasingly bundling other pump-related products, such as nursing bras and breast pumping bras, to sell complete packages of breast pumps, which is more profitable than isolated sales. Electrical breast pump packages find more adoption than manual breast pump products due to better volume of output. These innovative solutions are projected to fuel Global Breast Pump Industry revenues in the global electric breast pump market during the forecast period.

Global Breast Pump Industry Key Players:

  • Koninklijke Philips N.V.,
  • Pigeon Corporation,
  • Newell Brands,
  • Medela Inc.,
  • Ameda Inc.,
  • Hygeia II Medical Group Inc.,
  • Bailey Medical,
  • Mayborn Group Ltd. and Linco Baby Merchandise Works Co., Ltd.

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The Electric breast pump market is more technologically advanced with higher product pricing and low penetration. This category of breast pump comprises few global breast pump manufacturing companies. Potential new entrants in the Global Breast Pump Industry are trying to capture and improve their market position by using innovative marketing strategies, such as inorganic growth. Breast pump manufacturers are expanding their product portfolio using the latest technologies.

The availability of BPA-free breast pump products is fuelling breast pump adoption in developed as well as more affluent markets in developing regions. In the recent past, breast pump manufacturers have begun offering bisphenol A or BPA-free breast pump products to increase sales. BPA is a chemical used to make milk containers or feeding bottles rigid and more resistant and has been associated with adverse health effects, such as neural and fertility issues. Examples of some BPA-free breast pump products are the Philips Avent Manual Comfort Breast Pump from Koninklijke Philips N.V. and BPA-free breast pumps by Medela, Inc.

The rapid rise in promotional/supporting campaigns for Breast Pump products is fuelling revenue growth of the Global Breast Pump Industry. In November 2012, leading breast pump manufacturer Medela launched a campaign titled ‘Virtual Human Milk Collection Campaign’ to commemorate Prematurity Awareness Month, where the breast pump manufacturer encouraged and demonstrated the importance of breast milk for infants and babies. Medela has also donated US$ 30,000 worth of breastfeeding-related products to various neonatal intensive care units across the U.S.

Some of the leading breast pump manufacturing companies analyzed in the report include Koninklijke Philips N.V., Pigeon Corporation, Newell Brands, Medela Inc., Ameda Inc., Hygeia II Medical Group Inc., Bailey Medical, Mayborn Group Ltd. and   Linco Baby Merchandise Works Co., Ltd.

Additional Questions Answered

Readers can find detailed information about the important positive and negative factors likely to affect the Breast Pump market during the forecast period. Additionally, this Global Breast Pump Industry report also contains valuable information that can provide Breast Pump manufacturers with answers to critical questions, such as

Which types of products account for the maximum demand in the Global Breast Pump Industry and why?
Why is the sales of Breast Pump services and products highest in North America?
Which regulations in various regional segments are influencing the strategies of players in the Breast Pump market?
Why is APEJ currently attracting traction in the Global Breast Pump Industry?
What are some of the current technology types and trends adopted by various Breast Pump companies?
What are the promotional strategies being applied by breast pump manufacturers to sustain themselves in the competitive Breast Pump market?

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Global Breast Pump Industry Key Segments Covered

by Product Type

  • Open System Breast Pumps
  • Closed System Breast Pumps

by Technology Type

  • electric
  • manual breast pumps

by End User

  • homecare settings
  • healthcare facilities

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 areas such as 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.

Contact Us:      

Nandini Singh Sawlani

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
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Western European Medical Recruitment Market is Expected to Grow Rapidly, Reaching US$ 36.5 Billion by 2033 to an Astounding 4.6% CAGR

Western European Medical Recruitment Market
Western European Medical Recruitment Market

The Western European Medical Recruitment Market is expected to see a strong increase in value, with an estimated market price of US$ 36.5 billion by 2033. This corresponds to an astounding 4.6% Compound Annual Growth Rate (CAGR) between 2023 and 2033.

The market for medical recruiting in Western Europe is expected to rise in the upcoming years due to a number of variables, including rising healthcare spending, the incidence of chronic diseases, and the expanding population-employment ratio. Germany’s growth is anticipated to be comparatively high during the projection period. Growing rates of heart-related illnesses and the abundance of homecare facilities are two of the main reasons driving the expansion of the medical staffing industry in Western Europe.

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Western Europe Medical Recruitment Market Key Takeaways:

  • The United Kingdom is anticipated to dominate the Western Europe medical recruitment market over the assessment period. The growth of the country is attributed to the rising government initiatives and the presence of major recruitment providers is expected to favor the medical recruitment space in the United Kingdom.
  • Germany is another vital country anticipated to provide a lucrative setting for Germany as compared to their urban counterparts. The market for medical recruitment in France is expected to be the third largest in the Western European region.
  • Rising medical recruitments over the BENELUX region are predicted to exhibit a moderate growth rate over the assessment period The Sweden and Norway medical recruitment markets are expected to rise at similar CAGRs, but Sweden is predicted to have a larger market presence in Europe.
  • The Denmark medical recruitment market is expected to hold the lowest market share of all but is expected to provide good growth opportunities for medical recruitment providers over the coming years.

Western Europe Medical Recruitment Market Competitive Landscape:

Major medical recruitment providers throughout Western Europe are concentrating on CSR strategies and focusing on contracts to increase their recruitment potential and increase their market presence. Numerous medical recruitment companies throughout the Western European region are predicted to focus on setting up new offices to increase their reach across different countries and expand their business scope.

More Insights into the Western Europe Medical Recruitment Market:

Germany is expected to dominate the global market by accounting for a share of nearly 28.1% throughout the Western Europe medical recruitment market in 2023. The growth of the region is attributed to its large size and the country is predicted to witness a surge over the projection period.

The nation is experiencing a shortage of skilled healthcare professionals and demand for medical recruitment is expected to be majorly driven from rural areas of the country.

Demand for hospital doctors, general physicians, nurses, and surgeons is especially high in the rural regions of Germany.

The United Kingdom is anticipated to expand at a CAGR of 4.1% across the assessment period. Growth in the region is attributed to favorable government initiatives that promote recruitment on an international scale and increase the number of professionals hired substantially.

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Key Companies Profiled:

  • Medacs Healthcare PLC
  • Euromotion Medical
  • CPL Healthcare
  • ProClinical Recruitment
  • TFS Healthcare
  • EGV Recruiting
  • CCM Recruitment International Limited
  • IMS Recruitment Ltd.

Key Market Segments Covered in Western Europe Medical Recruitment Market Industry Research:

Vertical:

  • Pharmaceutical Industry
  • Medical Devices
    • Medical Capital Equipment
    • Medical Consumables
    • Surgical Manufacturing & Distribution
  • Biotechnology
  • Nursing/Healthcare
  • Paramedical Staff
  • Scientific Research
  • Medical Research/Clinical Research
  • Pharmacies
  • Optometry
  • Regulatory and Quality
  • Diagnostics
  • Animal Health

Candidature:

  • Health Professional
    • General Physicians
    • Surgeons
    • Nurses and Paramedical Staff
    • Lab Assistants
    • Radiologists
    • Anesthesiologists Technicians
    • Dentists
    • Mental Health Specialists
    • Medical Social Workers
    • Pharmacists
    • Optometrists
    • Veterinary Physicians
    • Pharmacovigilance and Regulatory Affairs
    • Medical Representatives
  • Biological and Medical Scientists
  • Health Information Technicians
  • Compounders

Service:

  • Recruitment Services
    • Temporary Positions
    • Permanent Positions
  • Managed Services
    • Vendor Management
    • Recruitment Processes Outsourcing (RPO)
    • Consulting Services
  • Homecare Services
  • Specialist Care Services

Country:

  • United kingdom
  • Germany
  • France
  • BENELUX
  • Sweden
  • Norway
  • Denmark

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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:

Nandini Singh Sawlani

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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Home Energy Management Systems Market Size & Growth by 2033

The global home energy management systems market is anticipated to generate revenues of US$ 2,892.4 million in 2023. Demand is anticipated to increase at a CAGR of 17.7% and reach US$ 104,360.3 million by 2033. The leading factors of this expansion are increasing power consumption and cutting-edge technology like the smart grid.

Market progress is possible by limiting greenhouse gas emissions and minimizing possible exposure. To change energy prices, and implement advanced energy-efficient technology. This is likely to expand the solar home energy management systems market by 2033.

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Home area networks (HANs) are undergoing a revolutionary change in multiple domains of power consumption. Such as energy conservation at consumption premises and electricity usage patterns. This is due to the rapid improvements in technologies which include  

  • Network communication 
  • Smart grid 
  • Bidirectional communication mediums 
  • Information infrastructures 
  • Energy conservation methodologies 

Home energy management software is essential for assisting businesses in locating and implementing energy-saving technology. 

The establishment of a domestic energy management system requires significant upfront investment. Local and federal governments both have an essential role in the transformation of infrastructure. The transmission network between clients and the smart grid must be established using expensive technology at first. 

Key Takeaways 

  • By 2033, the home energy management systems market in the United Kingdom is likely to expand, with a CAGR of 16.3%. 
  • In 2022, the United States dominated the home energy management systems sector, with a share of 16.5%. 
  • The home energy management systems market was significantly expanding, with a size of US$ 2,451.2 million in 2022. 
  • By 2033, the home energy management systems market in China is likely to expand, with a CAGR of 15.4%. 
  • In 2022, Germany expanded the home energy management systems business, with an expected share of 7.1%. 
  • The market is expected to grow at a US$ 4,716.15 million valuation by 2026, with favorable regulatory policies. 
  • By 2033, India is projected to expand significantly in the home energy management systems market, with a share of 16.7%. 
  • Japan’s home energy management systems industry share expanded significantly, with a 5.4% share in 2022. 
  • In 2022, WiFi dominated the market with a share of 26.5%. It is anticipated to control the market by 2033 in terms of communication technology. 
  • Based on offering, hardware dominated the market with a share of 38.9% in 2022. 

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Effective Approaches by Key Participants 

Top players in the home energy management systems market are projected to grow by diversifying into new regions. This entails modifying goods and marketing tactics to fit the demands and tastes of customers in other geographies. Collaboration with regional businesses to access local markets creates profitable opportunities in the market. 

Recent Developments  

  • Siemens announced developing grid software for financial effectiveness and grid stability in May 2022. The company claims that its software increases the productivity of grid management chores by 85% while ramping up grid simulations by a factor of up to 6. 
  • To hasten the energy transition and provide customer value, Schneider Electric, and Hitachi Energy partnered in June 2022. 
  • The first Smart Household Energy Management System (SHEMS) to receive ENERGY STAR certification is likely to be revealed in 2023, according to the United States Environmental Protection Agency (EPA). 
  • Johnson Control and Willow announced their partnership in February 2023. To develop digital solutions that make buildings smarter and more sustainable. 

Key Segments

By Offering:

  • Hardware
  • Software
  • Services

By Product Type:

  • Lighting Controls
  • Programmable Communicating Thermostats
  • Self-monitoring Systems & Services
  • Advanced Central Controllers
  • Intelligent HVAC Controllers

By Communication Technology:

  • Wi-Fi
  • Z-Wave
  • Ethernet
  • ZigBee
  • Others

By Region:

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

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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:      

Nandini Singh Sawlani 

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
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Global Swine Respiratory Diseases Treatment Industry soars to a valuation of US$3.6 Billion with a compound annual growth rate of 6.3% by 2032 | Reveal’s by FMI

Global Swine Respiratory Diseases Treatment Industry
Global Swine Respiratory Diseases Treatment Industry

The Global Swine Respiratory Diseases Treatment Industry is experiencing significant growth, driven by the rising demand for protein and the need to maintain healthy livestock populations. According to a recent market analysis, the market is projected to reach a valuation of US$ 2.0 billion by the end of 2022 and is expected to climb steadily at a Compound Annual Growth Rate (CAGR) of 6.3% over the next decade, reaching a staggering US$ 3.6 billion by 2032.

Swine respiratory infections fall into two distinct categories, classified by the scale and duration of the observed conditions. The first category encompasses infections that affect a substantial number of pigs, posing a potential threat, yet exhibiting a brief duration. On the other hand, the second category comprises diseases that affect a large swine population over an extended period.

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PRRS (porcine reproductive and respiratory syndrome), the most common respiratory disease in pigs, is treated with drugs and immunizations that aid in the treatment or prevention of swine respiratory infections. Medication is used to treat swine respiratory disorders in a variety of ways, including injections and in-feed inclusions. Vaccination is a biological tool used to boost disease immunity. Live, attenuated vaccines and dead, inactivated vaccines are the two major types of immunizations used to prevent swine respiratory diseases.

Global Swine Respiratory Diseases Treatment Industry: Segmental Highlights

The market is segmented based on the causative agent, treatment type, route of administration, distribution channel, and region.

  • The United States dominates the North American swine respiratory disease treatment market, with a total share of around 52.9% in 2021. It is predicted to continue growing at the same rate during the projection period.
  • In 2021, Canada owned around 47.1% of the North American Swine Respiratory Diseases Treatment industry, and it is predicted to develop at a profitable CAGR of 6.7% during the forecast period.
  • During the projected period, Germany is expected to demonstrate a CAGR of roughly 5.8% in the European swine Respiratory Diseases Treatment market.
  • Causative agents based on Mycoplasma are predicted to expand rapidly, with a CAGR of 6.1% by the end of the projection period.
  • By the end of the projection period, the pharmaceuticals segment is predicted to rise rapidly at a CAGR of 6.1%.
  • By the end of the forecast period, the oral route of administration is predicted to rise at a CAGR of 6.3%.

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Global Swine Respiratory Diseases Treatment Industry: Dynamics

The market forecast for various segments is based on the factors that are impacting the global market. According to Future Market Insights analysis, the market is driven by an increase in the rate of diseases such as PRRS (Porcine reproductive and respiratory syndrome), the high demand for pork, and an increase in the use of vaccines that are given to pigs to produce disease-free pork.

However, there are a few factors prevailing in the market that may hurt the market such as stringent regulation by the FDA to limit the use of antibiotics for farm animals and also lack of awareness in many countries where the pig farm owners are unaware of the diseases and treatment processes.

Global Swine Respiratory Diseases Treatment Industry: Competitive Analysis

This comprehensive research report includes brief profiles of various major companies operating in the global market such as Zoetis, Bayer AG, Boehringer Ingelheim GmbH, Elanco Animal Health (Sub. Eli Lilly), Virbac, Norbrook, Ceva Santé Animale, Intervet Inc., (Sub. Merck & Co. Inc.), Vetoquin.

Segmentation of the Global Swine Respiratory Diseases Treatment Industry

The segmentation of the global Swine Respiratory Diseases Treatment industry helps readers simplify the market study and understanding, by dividing the market into different segments based on various parameters. The report provides an individual analysis of each and every segment, thus covering every part of the market.

By Causative Agent

  • Virus
  • Mycoplasma
  • Bacteria
  • Others

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By Treatment Type

By Route of Administration

  • Oral
  • Parenteral

By Distribution Channel

  • Veterinary Hospitals
  • Veterinary Clinics
  • Pharmacies
  • Others

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 areas such as 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.

Contact Us:      

Nandini Singh Sawlani

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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