Market Research Blog – Page 3296 – New Product Development

Global At-Home Food Sensitivity Tests Market growing at a CAGR of 8.5%, reaching US$ 547 million by 2034

As per our latest industry analysis, the valuation for the global at-home food sensitivity tests market demand is projected US$ 241.4 million in 2024. The overall market is projected to exhibit a CAGR of 8.5% between 2024 and 2034, with an estimated valuation of US$ 547 million by 2034.

Changing dietary patterns has increased the intake of the ingredients and foods in the diet, which produces reactions in people suffering from food sensitivity. The most common types of food causing food sensitivity are those containing lactose, histamine, and gluten. Hence, the possible cause needs to be determined to avoid future complications, requiring a test that could find the underlying reason for the condition, propelling the market for at-home food sensitivity tests.

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The global allergy diagnostics business, mainly its food intolerance testing sub-segment, has grown impressively due to the high healthcare spending and rising demand for high-quality medical care and diagnostic services. According to the World Bank, the total healthcare expenditure in 2019 was 9.83% of the GDP.

Furthermore, increasing research and development in producing new and improved methods of at-home food sensitivity tests that would produce more accurate results are a few initiatives the market players took to increase the sales of at-home food sensitivity test kits.

“Increased awareness regarding allergy management, increased consumption of foods containing histamine, lactose, and gluten, as well as the cases of celiac disease and inflammatory bowel disease, is set to propel the sales of at-home food sensitivity tests across the globe,” says an analyst.

Key Takeaways from the Market Study Report:

Blood sample tests are the leading segment as a product and hold around 33.4% market value share in 2023.
Due to the rising demand for blood sample tests, the invasive type test segment is expected to take the lead with a 63.4% market share in 2023.
Gastrointestinal diseases are dominating among indication segments and could continue with a 9.6% CAGR from 2024 to 2034.
Hospital pharmacies make the leading distribution channel and are anticipated to expand during the forecast years with a CAGR of 7.3%.
North America is the leading region, with almost one-third market share in 2023.
Owing to the high prevalence of food insensitivity cases, India and China are the two remarkably growing markets with 7.3% and 6.2% CAGRs through 2034, respectively.

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Market Competition:

Market players are incorporating various strategies like new product launches, expansions, and collaborations. Key players have initiated promotional activities to introduce the design and engineering of novel at-home food sensitivity tests.

In 2022, FoodMarble launched the first pocket-size personal digestive tracker, FoodMarble AIRE 2, with hydrogen and methane breath analysis technology to determine the dietary items that cause food intolerance in people.

On April 20, 2022, LabCorp introduced a convenient home diagnostic test collection service in collaboration with Getlabs to bring together Getlabs’ phlebotomy service with LabCorp’s diagnostic testing to conveniently test customers in the comfort of their homes.

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the at-home food sensitivity tests market in its latest study, presenting a historical demand assessment of 2019 to 2023 and projections for 2024 to 2034. The global at-home food sensitivity tests market is segmented in detail to cover every market aspect and present a complete market intelligence approach to the reader.

The research study is based on the product– (blood sample test, tissue sample test, swap test, fecal test, and breath test), by test type (invasive and non-invasive), by indication (gastrointestinal diseases, joint pain, skin/allergic disease and others), by distribution channel (hospital pharmacies, retail pharmacies, and e-commerce), across seven key regions of the world.

Key Market Players:

Vitagene
myLAB Box
FoodMarble Digestive Health Ltd.
Laboratory Corporation of America Holdings
cerascreen LLC.
Everlywell, Inc.
YorkTest
TesMyAllergy (Global Science Technology Limited)
5Strands Affordable Testing
UCARI
Pinnertest Food Intolerance Test

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Key Market Segments Covered in At-home Food Sensitivity Tests Industry Research:

By Product Type:

Blood sample test
Tissue sample test
Swap test
Fecal test
Breath test

By Test Type:

Invasive
Non-invasive

By Indication:

Gastrointestinal diseases
Joint pain
Skin/allergic disease
Others

By Distribution channel:

Hospital Pharmacies
Retail Pharmacies
E-commerce

By Region:

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

About Future Market Insights (FMI)

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

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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Global Bleeding Control Kit Market is expected to experience growth to US$ 5,833.5 Million by 2033

The global bleeding control kit market, valued at US$ 4,265.8 million in 2022, is anticipated to grow to US$ 4,365.4 million in 2023, as revealed by a comprehensive report from Future Market Insights. Analysts predict a steady expansion at a Compound Annual Growth Rate (CAGR) of 2.9% from 2023 to 2033, ultimately reaching a valuation of around US$ 5,833.5 million by 2033.

The research emphasizes the critical importance of bleeding control in diverse settings, including battlefield, emergency, and hospital scenarios. Uncontrollable bleeding poses significant risks in terms of fatality and financial burdens. In response to these concerns, industry players are strategically directing their efforts toward the development of advanced hemostatic agents designed to swiftly and effectively control bleeding.

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“This growth trajectory underscores the industry’s commitment to addressing life-threatening situations associated with uncontrollable bleeding,” stated Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “The increased focus on hemostatic agents represents a crucial step forward in enhancing bleeding control measures across various domains.”

Key highlights of the bleeding control kit industry include:

Financial Growth: The industry is set to witness consistent financial growth, with an estimated CAGR of 2.9% from 2023 to 2033.
Market Expansion: The bleeding control kit market is projected to expand, reaching an estimated value of US$ 5,833.5 million by 2033.
Risk Mitigation: The development of advanced hemostatic agents is pivotal in mitigating fatality risks associated with uncontrollable bleeding in battlefield, emergency, and hospital settings.
Strategic Focus: Industry players are strategically focusing on innovations in hemostatic agents to address the urgent need for rapid and effective bleeding control solutions.

As the bleeding control kit industry continues to evolve, the emphasis on innovation and advancements in hemostatic agents will play a pivotal role in shaping its trajectory. Stakeholders, including manufacturers, healthcare professionals, and investors, are urged to stay informed about these developments to capitalize on emerging opportunities.

Key Takeaways from the Market Study:

The global bleeding control kit industry expanded at a CAGR of 1.9% between 2017 and 2022.
The anticipated market share for bleeding control kits was US$ 3889.8 million in 2017.
China is anticipated to develop a 4.5% CAGR from 2023 to 2033.
North America was estimated to record a value share of 27.8% in 2022.
India is forecasted to record a 5.2% CAGR from 2023 to 2033.
Under the product segment, tourniquet attained a market share of 37.8% in 2022.

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Competition Landscape:

The majority of the leading players are focusing on expanding their geographic presence by developing new manufacturing facilities, especially in the untapped regions. Meanwhile, a few other companies are aiming to launch novel products and engage in collaborations with local firms to gain a competitive edge in this market.

Some of the new developments are-

Hammarplast Medical continued to increase its capacity in the business area of Customized Products.

Recent investments included two new injection molding machines (electric motors) of 160 and 110 tonnes.

Zimmer Biomet Holdings, Inc. a global medical technology leader, announced plans to unveil the latest enhancements to ZBEdge™ Dynamic Intelligence™ at the American Academy of Orthopaedic Surgeon’s (AAOS) 2023 Annual Meeting in Las Vegas. ZBEdge Dynamic Intelligence integrated Zimmer Biomet’s digital, robotic, and implant technologies, connecting and collecting objective data throughout the entire episode of care.

Key Companies Profiled:

VBM Medizintechnik
TyTek Medical
Stryker
Hammarplast Medical
Tactical Medical Solutions
Friedrich Bosch Medizintechnik
North American Rescue
Rudolf Riester
Zimmer Biomet
Cardinal Health

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Key Segments Profiled in the Bleeding Control Kit Industry Survey:

By Product Type:

Medical Gloves
Tourniquet
Trauma Shears
Compressed Gauze
Compression Bandage

By End User:

Clinics
Industries & Corporate Offices
Hospitals
Sports Academies
Aviation
Automobiles
Defense
Academic Institutes
Healthcare Facilities
Emergency Medical Services

By Region:

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

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Nandini Singh Sawlani

Global Custom Hearing Aids Market is anticipated to reach US$ 18,861.5 Million by the year 2033

The global custom hearing aids market in 2022 was US$ 9,544.2 million and is estimated to be US$ 10,085.5 million in 2023. Analysts of Future Market Insights have mentioned in their reports that demand for custom hearing aids is likely to expand at a CAGR of 6.5% between 2023 and 2033, totaling around US$ 18,861.5 million by 2033.

The factors like an increase in the diabetic population, a rise in the aging population or prevalence of hearing loss, and growth in awareness are anticipated to drive the market. Growth of the industry challenged the high cost of hearing aids, by lowering average selling price and regulatory issues.

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The number of advanced technology product launches helped hearing devices by remaining at the top position amongst all the segments thus raising the market share.

Key Takeaways from the Market Study:

The estimated market share for digital hearing aids was US$ 7499.3 million in 2017.
The United States registered a market share of 36.3% in 2022.
North America was anticipated to record a value share of 42% in 2022.
China is anticipated to develop a 10.1% CAGR from 2023 to 2033.
Under the product segment, in-the-ear (ITE) hearing aids attained a market share of 66.8% in 2022.
Under the end-user segment, hospitals captured a market share of 44.4%% in 2022.

“Increasing cases of noise-induced hearing loss is one of the major drivers of the custom hearing aids market”, comments a Future Market Insights analyst.

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Competition Landscape:

Leading manufacturers present in the global market for custom hearing aids are focusing on expanding their existing portfolios and market consolidation. Some of the other key players are aiming to deliver cutting-edge hearing aid devices equipped with lithium-ion batteries. Meanwhile, a few other companies are striving to incorporate advanced technologies and develop new apps to enable users to communicate with their healthcare professionals.

Key Companies Profiled:

Sivantos
William Demant
Sonova
Oticon
Starkey Hearing Technologies
GN Resound
Widex
Amplifon
Audina Hearing Instruments Inc.
Cochlear Ltd

Some of the new developments are-

William Demant Holding A/S looked for more acquisitions in the retail sector acquisitions to increase control over the sale of its products and fight competition from discount chains.
William Demant’s $74m acquisition of Neurelec, a French cochlear implant specialist, showed the hearing aid developer’s faith in diversification as a business strategy. Added to the traditional hearing aids and bone-anchored hearing devices it already sold, the Danish group benefitted from Neurelec’s technology and became the only company in the world that covered all three product categories.

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Key Segments Profiled in the Custom Hearing Aids Market:

By Product Type:

In-The-Ear Hearing Aid
In-The-Canal Hearing Aid

By Application:

Hospital
Hearing Aid Clinics
Retail Stores
Online Stores

By Region:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Sludge Treatment Chemicals Industry Projected for Steady Growth at 4.6% CAGR by 2033

According to forecasts, the sludge treatment chemicals indutry is expected to be US$ 9,561.7 million in 2023 and US$ 14,456.8 million by 2033.

The need for sludge treatment chemicals is driven by increasing efforts by municipal corporations, industrial organizations, and environmental organizations toward water conservation operations.

The market is also anticipated to be caused by the expanding number of enterprises worldwide and municipal sludge treatment facilities. Moreover, growing initiatives for the supply of clean drinking water in the United States are expected to propel demand for sludge treatment chemicals during the forecast period.

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The primary reasons boosting the global market are growing industrialization, rising environmental concerns, and increased need for sludge removal. The market is anticipated to increase during the projected period due to the rising attention of various regulatory authorities on reducing sludge volume.

The high cost of sludge treatment severely constrains the market for sludge treatment chemicals. High operational costs also restrict the market rate of expansion.

Key Takeaways

By 2033, the sludge treatment chemicals market in the United Kingdom is likely to expand, with a CAGR of 5.2%.
In 2023, the United States is expected to develop the sludge treatment chemicals business with a share of 16.1%.
The sludge treatment chemicals market grew considerably to US$ 9,220.5 million in 2022.
The sludge treatment chemicals sector expanded at a CAGR of 3.7% from 2018 to 2022.
By 2033, China’s sludge treatment chemicals market is projected to develop with a CAGR of 4.0%.
By 2033, India’s sludge treatment chemicals industry is projected to expand with a CAGR of 4.7%.
Japan’s sludge treatment chemicals industry is likely to grow significantly, with a 7.1% share in 2023.
Australia’s sludge treatment chemicals are expected to develop with a share of 3.5% in 2023.
Germany’s sludge treatment chemicals business is expected to grow, with a share of 0.9% in 2023.
In 2023, based on the product type, the flocculant segment is expected to dominate the market, with a share of 61.4%.
In 2023, an industrial segment is expected to dominate the market, with a share of 45.8%, based on application.

Competitors’ Successful Techniques

Businesses are working to make industrial sludge less harmful, and demand for sludge treatment chemicals is anticipated to rise throughout the expected period. In the next few years, it is anticipated that the expanding metal processing industry and the increasing chemical industry jointly drive the global sludge treatment chemicals market.

Recent Development:

2019 saw the completion of Solenis’ acquisition of BASF’s wet-end Paper and Water Chemicals division. It is a multinational specialty chemical company focusing on paper and commercial water treatment.
In September 2021, Ecolab introduced Flotation 360, a product designed specifically for mining and mineral processing, under the Nalco water segment.
Kemira’s new Asia Pacific research and development facility opened in Pujiang Town, Shanghai, China, in September 2021.

Suez, a French-based water utility firm, partnered with Jiangsu Sino, a French-based water company, to build a water plant in Changshu, a city in China, in April 2022.

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Key players

BASF SE
Chembond Chemicals Limited
GE Water and Process Technologies
Kurita Water Industries Ltd.
Ion Exchange
Kemira Oyj
AkzoNobel N.V.
Solenis
Thermax Ltd.
Veolia Water Technologies
Accepta Advanced Environmental Technologies
Hubbard-Hall Inc
Beckart Environmental
Ecolab Incorporated

Key Segmentations

By Product Type:

Flocculant
Coagulant
Disinfectant
Anti Foulant
Anti Foamer
Activated Carbon

By Treatment:

Primary
Tertiary

By Application:

Industrial
Municipal

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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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Market Analysis Forecasts Epoxy Paints Industry Reaching US$ 36.38 Billion by 2032

The global epoxy paints market is projected to register a stable CAGR of 5% during the forecast years (2022-2032). Versatility plays a key role in promoting sales of epoxy paints.

Epoxy resins that are available in market are known as epoxy paints used for painting and coating building walls or floors. Being one of the most versatile compounds, Epoxy resins are widely used in the Orth phthalic and polyester family. These are also known as poly epoxides, which belong to the category of reactive prepolymers and polymers that contain the epoxide group.

Epoxy resins react with themselves or with other co-reactants which include phenols, acids, alcohols, polyfunctional amines, and thiols among others. Petroleum is the raw material required to industrially manufacture epoxy resins. Some of the plant-derived sources are gaining traction in manufacturing epoxy resins. Epoxy resins are polymeric or semi-polymeric materials and thus, are rarely exist in their pure state.

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Key Takeaways

Epoxy paint derived from epoxy resin has managed to occupy a large space in the building and construction Industry as the owners are choosing it for being the best floor paint material. It is mostly used in garage floor paint and epoxy pool paint.
Epoxy resins attribute to their excellent electrical, mechanical, and heat resistance properties. The epoxide content in the epoxy resins is the most crucial factor which determines the characteristics of epoxy paints. Different grades of epoxy resins are usually blended with various additives, plasticizers, and fillers to get the desired paint quality.
Epoxy resins incorporate a wide range of applications in paints and coatings, electrical and electronic components, and structural adhesives manufacturing industries. The paint and coatings industry is one of the major applications of the epoxy paint market.
The surging population combined with changing lifestyles is anticipated to boost the overall growth of the construction industry. The growing construction industry is expected to augment the growth of the paints and coatings industry. The paints and coating industry is expected to further grow owing to the rising demand from the automobile industry.
Demand for high-end luxury automobiles is surging which is further expected to enhance the overall growth of the paints and coatings industry. Therefore, the growing paints and coatings industry is expected to drive the overall growth of the epoxy paint market. Epoxy resins are widely used by the paints and coating industry on heavy-duty metal substrates.
Furthermore, paints and coatings consist of epoxy resins which are known to use less energy as compared to other heat-cured powder coatings. In addition to that, paints and coatings containing epoxy resins are also considered more environmental friendly than other chemicals.

Top Key Players in the Epoxy Paints Market

Momentive Performance Materials
Kukdo Chemical
Huntsman Corporation
The Dow Chemical Company
Cytec Industries Incorporation
Aditya Birla Chemicals Ltd.
NAMA Chemicals
LEUNA-Harze GmbH
Spolchemie A.S.

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More Insights into the Epoxy Paints Market

Asia Pacific market is considered the largest manufacturer of epoxy resins owing to the presence of large manufacturers in China. The presence of many manufacturers coupled with their huge production capacities is expected to boost the overall growth of the epoxy paint market.

Europe is yet another emerging market in the global sphere accounting for major consumers in the market. The demand for epoxy resins is gradually growing in North America due to the increase in demand for epoxy paint as the flooring material in living spaces.

The environmentally friendly features of epoxy resins are further expected to augment the overall demand in the market. Therefore, the growing consumer awareness of environment-friendly products coupled with the presence of stringent environmental regulations is expected to further boost the overall growth of the market.

About Future Market Insights (FMI)

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

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Global Pipette Controller Market Seizes a Lucrative Potential of US$ 263.6 Million through 2033

The global pipette controller market size reached US$ 185.4 million in 2022. Revenue generated by the pipette controller sales is likely to be US$ 193 million in 2023. Between 2023 and 2033, demand for pipette controllers is poised to soar at a 3.2% CAGR, reaching US$ 263.6 million by 2033.

Pipettes are frequently utilized in the clinical market and have an extensive list of uses in both academic and research settings. The pipette controller market is expected to grow because of the rising use of pipettes. They are beneficial for combining chemical solutions and cell suspensions, moving liquids between containers, and stacking chemicals with different densities.

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The primary variable anticipated to propel the market expansion is the rise in research and development efforts. Pipettes are employed more often to accurately determine the amount of liquid in many applications, such as cell, tissue, and bacterial culture. This simultaneously boosts the demand for pipette controllers. This could become one of the primary factors influencing the expansion of the pipette controller market.

The need for automated solutions has grown as laboratories struggle with rising workloads. With its programmable options and automated features, pipette controllers are critical to this move toward lab automation. They provide trustworthy outcomes by reducing the possibility of human mistakes in addition to saving time.

The varying requirements of different laboratories are increasing the demand for specialized pipette controllers. Manufacturers are increasingly offering modular pipette controllers that could be tailored to specific applications. Given their adaptability, scientists can utilize the ideal instrument for their purpose, no matter how complicated or unusual the work might seem. This is likely to create considerable opportunities for pipette controller market players.

Key Takeaways from the Pipette Controller Market

In North America, the United States pipette controller sector emerged as the leading market in 2022, with a 31.1% global market share.
In Europe, Germany and the United Kingdom took the lead, capturing global pipette controller market shares of 9.2% and 7.2%, respectively.
In 2022, China stood out as the dominant market in the East Asia pipette controller industry, capturing a global market share of 5.5%.
India emerged as the frontrunner in the South Asia pipette controller industry in 2022, securing a commanding global market share of 4.1%.
The mechanical pipette controller segment spearheaded the market by product, commanding 44.6% of the global pipette controller industry in 2022.
Academic & research institutes took the forefront among end users, possessing a 23.6% share of the global pipette controller industry in 2022.

“North America and Europe have held a prominent position in the pipette controller market for quite some time due to their advanced research facilities. However, it is worth noting that East Asia and South Asia show considerable potential. This is because they are investing heavily in research infrastructure, signifying a substantial opportunity for market expansion in the foreseeable future.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).

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Key Players and Strategies for Success in the Pipette Controller Market

Key market players employ the following strategies for success in the pipette controller industry:

Continuously invest in research and development to develop innovative pipette controller technology
Maintain rigorous quality control measures to ensure reliable and accurate performance
Offer a range of models and configurations to cater to diverse laboratory requirements
Establish a robust distribution network to reach a broad customer base
Collaborate with research institutions and key industry players to drive innovation and expand market reach

Key Companies Profiled in the Pipette Controller Market Report:

INTEGRA Biosciences AG
Hamilton Company
VWR International LLC
Gilson Incorporated
Eppendorf AG.
Heathrow Scientific

Key Developments in the Pipette Controller Market

The RAININ Pipet-XTM pipette controller was introduced by Anachem and offers a range of options for liquid transport and measurement. Its sophisticated design and functionality make it an indispensable tool for various laboratory applications.
Eppendorf unveiled the Easypet 3 pipette controller, a brand-new instrument for electronic pipetting. This advanced tool simplifies pipetting by intuitively managing speed through easy-to-use operational buttons.

Key Segments Profiled in the Pipette Controller Market Survey:

By Product Type:

Single Chamber
Multi Chamber

By Indication:

Mechanical
Electrical
Manual
Automatic

By End User:

For Hospitals
For Diagnostic Laboratories
For Research Laboratories
For Academic & Research Institutes

By Region:

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

Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain:

Portable Medical Devices Market Size: The global market is projected to expand at a CAGR of 10.7% during the forecast period. The market is estimated to generate market revenue of US$ 163.84 billion by 2033, increasing from US$ 59.28 billion in 2023.

Pain Management Devices Market Share: The global demand is expected to grow at a healthy CAGR of 9% between 2022 and 2032, totaling a valuation of over US$ 5.68 Billion by the end of 2032

Diabetes Care Devices Market Demand: The global market size is projected to be valued at US$ 9.7 Billion in 2022 and is anticipated to reach US$ 17.87 Billion by 2032, with a rapid CAGR of 6.3% from 2022 to 2032.

Ultrasound Biometry Devices Market Growth: Global sales were valued at around US$ 167.1 Million at the end of 2021. The market is projected to register 4.0% CAGR and top a valuation of US$ 257.1 Million by 2032.

Medical Device Technologies Market Development: The global market was valued at around US$ 470.3 Billion at the end of 2021. The market is projected to register a 6.7% CAGR and top a valuation of US$ 916.3 Billion by 2032.

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Commercial Cooking Equipment Market Forecasted US$ 23,094.7 Million by 2033

The global commercial cooking equipment market is on a trajectory of significant growth, projected to surge from US$ 11,631.0 Million in 2023 to a staggering US$ 23,094.7 Million by 2033, marking a robust 7.1% CAGR over the forecast period (2023-2033). This surge is primarily attributed to the rapid expansion witnessed in the HoReCa (Hotel, Restaurant, and Catering) sector worldwide.

Commercial cooking equipment encompasses a diverse range of machines and tools essential for food preparation in commercial kitchens, including broilers, cook-chill systems, fryers, ovens, cookers, ranges, kettles, and steamers, among others.

These equipment play a pivotal role across various segments of the food service industry, such as restaurants, hotels, and catering services. They enable quick-service establishments to efficiently cater to customer demands while optimizing space utilization to mitigate escalating operational, food, labor, and real estate costs. Consequently, the burgeoning growth of these sectors is poised to propel the global commercial cooking equipment market during the forecast period.

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Growth Factors

The escalating preference for fast foods such as burgers, chicken, pizza, sandwiches, and quick-service meals, which do not necessitate table service, is poised to significantly propel the demand for commercial cooking equipment over the forthcoming decade.

Moreover, the considerable advancement in the commercial utilization of cooking equipment, particularly within emerging economies, is anticipated to fuel the expansion of the global commercial cooking equipment market.

Additionally, the ongoing development of innovative commercial cooking equipment is expected to unlock lucrative growth opportunities for the market in the ensuing decade.

Recent Developments

In 2021, Marra Forni, an esteemed American manufacturer renowned for its Italian-inspired brick ovens, unveiled its latest offerings, the ELECTRO Series Models ELST5532-1 through ELST5532-4.

In a strategic move aimed at expanding its commercial footprint and capturing the Pacific market, Alto Shaam Inc. initiated its expansion into Australia and New Zealand in January 2022.

Middleby Corporation made significant strides in February 2022, introducing a new addition to its Char-Griller lineup while also announcing the acquisition of Kamado Joe and Masterbuilt, further solidifying its market presence.

Blodgett Corporation made waves in February 2021 with the introduction of its cutting-edge freestanding vent hood convection oven featuring touch controls, catering to the needs of fast-casual restaurants, institutional kitchens, hospitals, and various other food service establishments.

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Key Companies

Ali S.p.A
Illinois Tool Works Inc.
Duke Manufacturing Co. Inc.
The Middleby Corporation
Alto-Shaam, Inc.
Edward Don & Company
Fujimak Corporation
Manitowac Company Inc.
Rational AG and AB Electrolux.
ACP, Inc.
AMTek Microwaves
Bizerba USA Inc.
Caddy Corporation
Duke Manufacturing Co.
Electrolux AB
R.M Kitchen Equipments Pvt. Ltd.
RM GASTRO s.r.o.

Market by Category

By Product Type:

Broilers
Cook-chill Systems
Fryers
Ovens
Cookers
Ranges
Kettles
Steamers
Others

By Applications:

Full-Service Restaurants and Hotels
Quick Service Restaurants
Catering Services

By Region:

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

Glass Fiber Reinforced Plastic (GFRP) Composites: A Market with Huge Potential and Growth Opportunities

Glass Fiber Reinforced Plastic (GFRP) Composites Market

The GFRP composites market is estimated to capture an impressive valuation of US$ 18.54 billion in 2023 and is growing to US$ 41.53 billion by 2033. The market is projected at a CAGR of 8.4% during the forecast period.

Growing demand for high durability, flexibility, and premium quality products is increasing the adoption of glass fiber reinforced plastic (GFRP) composites. In addition, increasing electronic, automobile, and construction industries are surging the demand for glass fiber reinforced plastic (GFRP) composites. For example, automobile manufacturers are developing light weighted devices and equipment to reduce the consumption of fuels.

Increasing preferences for renewable energy and rising environmental concerns boost the market growth. The adoption of GFRP composites pipes in the oil, chemical, and marine industries to transfer the liquid and boost the strength propels market opportunities. Moreover, innovations of low-weighted vehicles, such as electric cars and SUVs, are further advancing the market expansion during the forecast period.

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Growing molding technology, advanced products, and piping activities bolster market opportunities. The government initiatives, the rising number of investors, and present key vendors are flourishing the market opportunities. Significantly growing wind energy in China is increasing the adoption of glass fiber reinforced plastic (GFRP) composites.

The United States Dominates the Global Market

The United States is leading the global market by securing a maximum share during the forecast period. The increasing urbanization, automobiles, and construction activities are flourishing in the United States market. The growing demand for superior and high-quality equipment is increasing the demand for glass fiber reinforced plastic (GFRP) composites.

Rising standards of living, government support, and huge investments are propelling the market in the country. Innovative product launches and adopting marketing strategies are the other factors that bolster the market size. In addition, the manufacturers are adopting last-long materials with advanced molding technologies to expand the market size in the United States.

Key Takeaways:

The glass fiber reinforced plastic (GFRP) compositesmarket is expected to have a valuation of US$ 41.53 billion by 2033.
With a CAGR of 8.4%, the global market is increasing from 2022 to 2033.
The United States glass fiber reinforced plastic (GFRP) composites marketis leading the global market, with registering a maximum share through 2033.
The market secured a CAGR of 8.0% in the historical period between 2017 and 2022.
The market captured a valuation of US$ 17.81 billion in the historical period.

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Who is winning?

The prominent players are launching their innovative products as per end-users’ requirements. Apart from it, they are investing a huge amount in research and development activities to produce innovative and easy-to-use equipment with the latest technology. The players are setting their goals by adopting better technology, apart from traditional and complicated methods.

The key vendors built several marketing tactics to enhance the market position in the international market. Their marketing strategies are collaborations, mergers, product launches, partnerships, and acquisitions.

Other Essential Players Working in the Market are:

Johns Manville,
BGF Industries
Asahi Glass Company Limited
Advanced Glassfiber Yarns LLC
Chomarat Group
Jushi Group Co. Ltd
Taishan Fiberglass Inc
Owens Corning, PPG Industries Inc
Binani 3B-The Fibreglass Company
Saertex Group
Chongqing Polycomp International Corp
Saint-Gobain Vetrotex
Nitto Boseki Co. Ltd
Nippon Sheet Glass Co. Ltd

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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 ~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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Nandini Singh Sawlani

Global Home Sleep Apnea Testing Market is poised for remarkable advancement, expected to reach US$ 3.09 Billion by 2032, supported by a robust CAGR of 14.4%

The global home sleep apnea testing market is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 14.4% over the forecast period. According to a comprehensive analysis conducted by Future Market Insights, the market is anticipated to reach a staggering market share of US$ 3.09 billion by 2032, compared to US$ 0.70 billion in 2021.

The research report, titled “Home Sleep Apnea Testing Industry Analysis,” delves into the dynamic landscape of the market, providing valuable insights into market dynamics, the impact of Covid-19, market scope, and segmentation. Future Market Insights sheds light on key market players, offering a thorough analysis of the competitive landscape and prevailing trends in the industry.

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The report adopts a meticulous approach, utilizing volume and value data validated through three distinct methodologies, including a comprehensive assessment of top companies’ revenues. It concludes with precise market estimations, taking into consideration all parameters and dynamics that drive the industry. Every critical aspect influencing market development and restrictions is discussed in detail, accompanied by solutions and suggestions that may shape the market in the near future.

Key Highlights of the Report:

Staggering Growth Projection: The industry is set to witness an impressive CAGR of 14.4%, indicating a robust and sustained upward trajectory in the global home sleep apnea testing market.
Market Dynamics: The report scrutinizes the various factors influencing market dynamics, offering a nuanced understanding of the challenges and opportunities that lie ahead.
Covid-19 Impact: A comprehensive analysis of the Covid-19 impact on the market is presented, helping stakeholders navigate the evolving landscape of the industry in the wake of the pandemic.
Market Segmentation: The study provides a detailed analysis of market segmentation, offering investors in-depth knowledge for strategic decision-making and supplementary market investments.
Competitive Landscape: Future Market Insights casts a spotlight on key market players, offering insights into their strategies, market positioning, and contributions to the industry’s competitive landscape.

The burgeoning home sleep apnea testing market presents a wealth of opportunities for investors, manufacturers, and healthcare professionals. As the demand for efficient and convenient diagnostic solutions continues to rise, stakeholders are encouraged to leverage the insights provided in this report for informed decision-making.

Key Takeaways:

The home sleep apnea testing market is expected to grow significantly in the coming years, driven by the increasing prevalence of sleep apnea worldwide, the growing awareness of the risks associated with sleep apnea, and the convenience and affordability of home sleep apnea testing.

The most common type of home sleep apnea testing device is the portable monitoring device. These devices are small and lightweight, and they can be used to measure a variety of physiological parameters. Type III home sleep apnea testing devices are more sophisticated and accurate than portable monitoring devices. However, they are also more expensive and require a prescription from a doctor.

The direct-to-consumer segment is expected to grow at the fastest CAGR during the forecast period. This is due to the increasing availability of home sleep apnea testing devices online and through over-the-counter retailers.

North America is expected to remain the largest market for home sleep apnea testing throughout the forecast period. This is due to the high prevalence of sleep apnea in the region and the high level of awareness of the risks associated with sleep apnea.

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Leading Home Sleep Apnea Testing Industry Analysis by Future Market Players:

Resmed
Sleep Med Inc.
NovaSom
Curative Medical Inc.
Phillips Respironics

Segmentation Home Sleep Apnea Testing Market by 2022 to 2032:

By Product Type:

CPAP Devices
BPAP Devices
Adaptive Servo-Ventilation (ASV) Devices
Mandibular Advancement Devices

By Indication:

Obstructive Sleep Apnea
Insomnia
Cognitive Impairment
Daytime Sleepiness

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
MEA

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About Future Market Insights (FMI)

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Nandini Singh Sawlani

Cross Training Shoes Market Poised for Growth: Projected to Reach US$ 439.9 Million by 2032

The Cross Training shoes market, as per newly released data by Future Market Insights (FMI), is estimated at US$ 318 million in 2022 and is projected to reach US$ 439.9 million by 2032, at a CAGR of ~3.3% from 2022 to 2032.

Cross-training enjoys popularity among gym enthusiasts, particularly those aiming for weight loss or athletes engaging in off-season training. Unlike gym shoes, cross-training shoes are designed to be high-performance and versatile, accommodating various workouts and activities associated with cross-training.

The two main factors that athletes include cross training in their routine are off seasons and the weather conditions. To counter the bad weather conditions, manufacturers are developing the shoe for durability as well which is a critical factor.

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These shoes are also getting popularity among gym goers, who are following gym routines and including HIIT and many other active exercise types. As the cross training gyms and training camps are established all over the world, the demand for the cross training shoes is also increasing.

Key manufacturers are producing shoes with number of features and special designs, which will attract customers. The marketing campaigns like collaborations and endorsements are also helping in increasing sales.

The biggest threat to the cross training shoes market is the availability of counterfeit products. The fake manufacturing companies provide low quality shoes in low cost. As the material used for making these shoes is not up to standards, they get damaged if used roughly. These factors affect the genuine manufacturers and decrease the sales.

Key Takeaways from the Cross Training Shoes Market Study

Elastic closure type of cross training shoes are popular among customers, as they are easy to put on and take off. Also, the elastic band keeps the shoe from moving too much and provides a comfortable fit.
Resin is commonly used for making soles of cross training shoes. the resin material is durable, flexible and light weight, making it an ideal choice for making an all-purpose gym shoes.
Cross fit shoes made from mesh are more popular than the synthetic material. The reason being light weight and breathability of mesh is far superior than any other type of material.
In the case of regional analysis of regions like the North America and Asia is expected to gain traction in the light up shoes market.

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“the cross training shoes are gaining popularity, as more and more people are turning towards cross fit exercises. The demand for the cross training shoes will increase, as the world is going back to the normal routine.” Says an FMI Analyst.

Who is winning?

Nike Inc.
New Balance
Adidas
ASICS
Skechers
Reebok
ON
HOKA
PUMA SE
Under Armour, Inc.
GeoX S. p. A
Crocs
Vans
Converse
Wolverine
Others

Author

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani