Global Radiopharmaceuticals Market Continues Upward Trajectory, Projected to Reach US$ 11635 Million by 2034, at a 3.40% CAGR

Radiopharmaceuticals Market
Radiopharmaceuticals Market

The global  radiopharmaceutical market would be worth US$6972.1 million by 2024. This valuation is expected to surpass US$ 11635 million by 2034 due to growing awareness of the advantages of radioisotope treatments. The Compound Annual Growth Rate (CAGR) for the forecast period of 2024 to 2034 is estimated to be 3.40%.

Radiopharmaceuticals are unique medications that utilize radioactive materials (radioisotopes) for both diagnostic and therapeutic purposes. They play a vital role in managing a wide range of critical and chronic diseases. Nuclear medicine, which leverages radiopharmaceuticals, is experiencing a surge in demand for various diagnostic procedures, particularly those targeting specific organs

One of the factors driving the market for radiopharmaceuticals is rising knowledge of the beneficial effects these drugs can have in evaluating chronic illnesses.

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However, the market may be constrained by the half-life of radiopharmaceuticals. It’s common knowledge that radiopharmaceuticals require larger financial outlays. Radiation pharmaceuticals’ short half-life or expectation is one of the main issues limiting demand. As a result, only developed areas may currently use radiopharmaceuticals more and more. The developing economies still have a way to go before fully utilizing technology. In its most recent industry analysis, named “Radiopharmaceuticals Market,” Future Market Insights has gone over these features with potential future developments.

Key Takeaways from Radiopharmaceuticals Market

  • North America dominates the radiopharmaceuticals market due to rising frequency of cardiovascular diseases and cancer and the scenario is expected to persist even in the forecast period. Adopting innovative radioisotope production methods for treating chronic disorders is another reason.
  • Europe, led by the UK, is also expected to hold a significant market share due to the UK being subject to maximum incidences of cancer. Cancer Research UK estimate says that the UK alone houses 367,167 cancer patients.
  • The Asia-Pacific is poised to grow blatantly in the forecast period with it witnessing new product launches, collaborations, distribution agreements, acquisitions in an aplomb.

“The fact that radiopharmaceuticals are broadly used as biomarkers in molecular imaging is expected to take the radiopharmaceuticals market by storm in the upcoming period”, says an analyst from Future Market Insights.

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Competitive Landscape

  • GE Healthcare inked an agreement with NorthStar Medical Radioisotopes, LLC for producing and distributing iodine-123 (I-123) capsules all across the US.
  • Bracco Diagnostics Inc., in March 2021, entered into partnership with CardioNavix, LLC for enhancing patients’ access to cardiac PET imaging. The new program is termed as ‘Bracco Mobile Isotope Service’, which ought to facilitate better patient care sites for providing cardiac PET imaging.
  • Jubilant Radiopharma, in August 2020, signed a MoU (Memorandum of Understanding) with Navidea Biopharmaceuticals, which focuses on an ELDA (Exclusive License and Distribution Agreement) for the latter’s diagnostic imaging agent called ‘Tilmanocept (technetium Tc 99m tilmanocept injection) in LATAM, Mexico, Canada, and the US.
  • Bayer AG, in June 2021, announced that it would acquire Noria Therapeutics Inc. along with PSMA Therapeutics Inc. with the objective of widening the former’s oncology portfolio that is into existence.
  • Norgine B.V., in March 2020, completed the acquisition of Azanta A/S, a specialty biopharmaceutical company. This included Nimorazole, a hypoxic radiosensitizer to treat cancer, and Angusta to facilitate labor induction.
  • Curium, in the year 2019, completed acquisition of MAP Medical, which would actually help it in strengthening the footprint all over the Europe with access to Baltic and Nordic countries.
  • The US FDA, in December 2020, completed approval of Gallium 68 PSMA-11 (Ga 68 PSMA-11). It holds the distinction of being the very first drug for PET imaging for diagnosing prostate cancer.

Key Companies Profiled:

  • Siemens AG
  • Positron Corporation
  • Novartis (Advanced Accelerator Applications)
  • Curium
  • GE Healthcare
  • Lantheus Holdings Inc.
  • Sotera Health LLC (Nordion Inc.)
  • Bayer AG
  • Eckert & Ziegler

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Key Segments Covered in the Radiopharmaceuticals Industry Analysis:

Radiopharmaceuticals Market by Radioisotope Type:

  • Technetium-99
  • Fluorine-18
  • Iodine-131
  • Leutetium-177
  • Yttrium-90
  • Gallium-68
  • Gallium-67
  • Rubidium-82
  • Iodine-123
  • Iodine-125
  • Indium-111
  • Others

Radiopharmaceuticals Market by Application:

  • Oncology
  • Cardiology
  • Gastroenterology
  • Neuroendocrinology
  • Neurology
  • Nephrology
  • Others

Radiopharmaceuticals Market by Source:

  • Cyclotrons
  • Nuclear Reactors

Radiopharmaceuticals Market by End User:

  • Hospitals
  • Diagnostic Imaging Centers
  • Ambulatory Surgical Centers
  • Cancer Research Institute

Radiopharmaceuticals Market by Region:

  • North America Radiopharmaceuticals Market
  • Latin America Radiopharmaceuticals Market
  • Western Europe Radiopharmaceuticals Market
  • Eastern Europe Radiopharmaceuticals Market
  • APEJ Radiopharmaceuticals Market
  • Japan Radiopharmaceuticals Market
  • Middle East & Africa Radiopharmaceuticals 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 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 Infusion Pump Market to Witness Steady Growth Driven by Rising total US$ 209.8 Million by 2034, registering a 7.2% CAGR

Infusion Pump Market
Infusion Pump Market

The global infusion pump market is on track for significant growth, with a projected valuation of US$209.8 million by 2034. This expansion is fueled by a growing understanding and appreciation of the benefits infusion pumps offer. The market is expected to witness a Compound Annual Growth Rate (CAGR) of 7.2% from 2024 to 2034.

New solutions intended for home-based infusion therapies are being developed in response to the growing number of patients suffering from these chronic conditions. The need for these specialist infusion devices has been exacerbated by the aging population, which frequently needs long-term care.

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The market for infusion pumps is driven primarily by the healthcare industry. Infusion pumps are essential in healthcare settings because controlling chronic diseases requires accurate and continuous medication delivery.

Innovations in drug delivery technology have also contributed to the market’s growth by producing infusion pumps with specialized features to meet a range of medical needs.

Several key trends are shaping the future of the infusion pump market:

  • Chronic Disease Management: The rising prevalence of chronic diseases like diabetes, cancer, and gastroenterological conditions is a major driver. These conditions often require long-term treatment, and infusion pumps play a vital role in administering medication effectively.
  • Shift to Home-Based Care: The increasing demand for home-based infusion therapies is another key factor. Infusion pumps offer a cost-effective and convenient alternative to hospital-based treatment, allowing patients to receive care in the comfort of their own homes. This trend is expected to continue fueling market growth.

Key Takeaways from the Market Study

  • The market valuation in 2022 was US$ 626
  • The market valuation in 2017 was US$ 543
  • Based on product type, volumetric pumps are expected to dominate at a value share of 22% in 2023.
  • India is estimated to register at a CAGR of 3.8% by 2033.
  • China experiences significant growth, projected at a CAGR of 3.3% by 2033.

“Rapid technological innovations are projected to encourage companies to develop more user-friendly and technologically advanced infusion systems and is considered a major driving factor of the infusion pump market,” comments a Future Market Insights analyst

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Competitive Landscape

The infusion pump industry boasts a substantial array of market participants. Research and development play a pivotal role among these players, primarily focusing on introducing eco-friendly product lines as a core aspect of their manufacturing endeavors. Furthermore, they employ various expansion strategies, including collaborations, mergers and acquisitions, and diligent exploration of regulatory approvals to bolster their market presence.

Some of the key developments are

  • Voluntis, a prominent player in the healthcare software industry, joined forces with Biocon biologics to revolutionize diabetes management. The strategic partnership aims to develop and offer innovative digital therapeutics designed to support diabetes patients who rely on biologics therapy.
  • Mindray Medical expanded its product portfolio by introducing the BeneFusion e series. The new line includes eSP, eVP, and eDS infusion systems, representing a technological step forward. The introduction of these advanced infusion systems reflects Mindray Medical’s commitment to providing cutting-edge medical equipment to healthcare facilities.

Recent Developments

  • In 2023, Terumo Corporation revealed its plans to build a new manufacturing plant for its medical care solutions division. The facility will be located at the Kofu Factory premises situated in Yamanashi, Japan.
  • In 2023, Virginia Oncology Associates (VOA) procured the Ivenix Infusion System to deliver medications to its patients. This purchase was made under an agreement signed with Fresenius Kabi.
  • In 2023, Terumo Blood and Cell Technologies collaborated with BioCentriq to showcase how automated cell and gene therapy platforms from Terumo can expedite the development of CAR-T cells.

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Key Market Players:

  • Terumo Corporation
  • Medtronic Plc
  • Smiths Medical
  • MOOG Inc.
  • B. Braun Melsungen AG
  • Fresenius Kabi AG
  • Terumo Corporation
  • CareFusion Corporation
  • ICU Medical, Inc.
  • Baxter International Inc.

Key Market Segmentation:

By Product Type:

  • Syringe Pumps
  • Small Volume Pump
  • Ambulatory Pumps
  • Volumetric Pumps
  • Peristaltic
  • Cassette/Piston
  • Implantable Pumps
  • Insulin Pumps
  • Enteral Pumps
  • PCA Pumps
  • Pump Accessories

By Modality:

  • Stationary Pumps
  • Infusion Pumps

By Application:

  • Chemotherapy/Oncology
  • Pediatrics/Neonatology
  • Analgesia
  • Gastroenterology
  • Hematology
  • Diabetes

By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Home Care
  • Clinics
  • Others

By Region:

  • North America
  • Latin America
  • East Asia
  • South Asia
  • Europe
  • Oceania
  • 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.

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Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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PE Films Market Set to Reach US$ 79.2 Billion by 2032, Fueled by E-commerce and Food & Beverage Expansion

The global PE films market is poised for remarkable growth, with an estimated valuation of US$ 52 billion in 2022 and a projected Compound Annual Growth Rate (CAGR) of 4.3% over the forecast period. By 2032, the market is expected to surge to a valuation of US$ 79.2 billion, driven by a favorable demand outlook.

PE films, renowned for their durability and protective properties against sunlight, moisture, oxygen, and dust, are emerging as effective packaging solutions. They provide brands with convenient printing capabilities to display product information and interactive elements, enhancing the overall customer experience.

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The surge in demand for PE films can be attributed to the expansion of e-commerce and the food & beverage sector. In particular, the food industry, one of the largest end users of plastic film, benefits from the easy packaging solutions offered by PE films for ready-to-eat meals, snacks, and other convenient food items. The growing trend of online food retail is expected to further drive sales in the market in the coming years.

Consumers’ preferences for online food delivery, ready-to-eat meals, and packaged food products, driven by busy lifestyles, are fueling the demand for PE films. Additionally, increasing awareness of food quality and packaging to reduce plastic wastage is compelling manufacturers to adopt effective packaging solutions that protect food ingredients and minimize disposal problems.

Country-wise Insights

USA PE Films Market:

  • The USA is expected to account for 18.3% of the North America PE films market share over the forecast period.
  • A robust food & beverage sector in the country is anticipated to create growth opportunities, supported by the ongoing expansion of the e-commerce sector.
  • Sales of PE films in the USA are projected to offer an incremental opportunity of US$ 4 billion over the forecast period.

India PE Films Market:

  • The India PE films market is considered lucrative due to various factors, including the country’s growing economy and expanding consumer base.
  • With increasing disposable income and changing lifestyles, the demand for packaged food products and effective packaging solutions is on the rise in India.
  • Manufacturers in the food & beverage sector are adopting PE stretch films to meet the growing demand for efficient packaging solutions.

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Growth Opportunities:

  1. Sustainable Packaging: Increased awareness and demand for sustainable packaging solutions present a significant growth opportunity for PE films. Manufacturers focusing on eco-friendly options can capture a growing market segment.
  2. Technological Advancements: Investing in research and development to enhance the properties of PE films, such as improved barrier properties, strength, and versatility, can open doors to new applications and markets.
  3. E-commerce Boom: The rise of e-commerce and the subsequent surge in demand for packaging materials provide a substantial growth avenue for PE films. E-commerce companies seek reliable, cost-effective, and protective packaging solutions.
  4. Medical Packaging: With a growing emphasis on healthcare and pharmaceuticals, there is an increasing demand for specialized PE films for medical packaging. This includes applications like sterile packaging for medical devices and pharmaceutical products.
  5. Customization and Innovation: Offering customizable solutions and innovative packaging designs can attract customers looking for unique and tailored packaging solutions. This could include films with special printing capabilities or those designed for specific product types.

Industry Trends:

  1. Circular Economy Initiatives: Increasing emphasis on the circular economy is driving trends towards recyclable and biodegradable PE films. Companies adopting sustainable practices and recycling initiatives are likely to gain market share.
  2. Smart Packaging: Integration of smart technologies into packaging materials is a growing trend. Smart PE films with features like RFID tracking or temperature-sensitive indicators cater to the demand for enhanced functionality and information in packaging.
  3. Evolving Regulatory Landscape: Stringent regulations regarding plastic usage and environmental concerns are shaping the industry. Compliance with evolving standards and regulations is crucial for companies to stay competitive.
  4. Focus on Lightweighting: As sustainability becomes a priority, there’s a trend towards lightweighting packaging materials, including PE films. This not only reduces material usage but also contributes to lower transportation costs.
  5. Digitalization in Supply Chain: Adopting digital technologies for supply chain management, such as blockchain for traceability and real-time monitoring, is becoming a trend in the PE films industry. This enhances transparency and efficiency throughout the supply chain.

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PE Films Market by Category

By Material:

  •          Low Density Polyethylene Films (LDPE)
  •          Linear Low Density Polyethylene Films (LLDPE)
  •          High Density Polyethylene Films (HDPE)
  •          Bio Polyethylene Films

By Thickness:

  •          Less than 50 Micron
  •          50 to 100 Micron
  •          101 to 200 Micron
  •          Above 200 Micron

By End-Use:

  •          Food & Beverages
  •          Personal Care & Cosmetics
  •          House Care
  •          Building & Construction
  •          Agriculture
  •          Electrical & Electronics

Author:   

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

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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Smart Home Services Market Poised for Rapid Growth, Valued at $7.5 Billion in 2023 and Expected to Reach $31.41 Billion by 2033

The market for smart home services is projected to grow from $7.5 billion in 2023 to $31.41 billion in 2033. The market is projected to expand at a CAGR of 15.4% over the course of the forecast period.

The demand for cognitive systems in today’s smart homes is developing quickly, which is driving this industry’s expansion. The need for installation and maintenance services thus rises.

Smart house trends have already exploded in a huge number of homes thanks to the introduction of various appliances and features like integration that enable smart home gadgets to communicate with one another. The market for smart home services is being strengthened by the presence of well-known industry companies.

Amazon’s Alexa devices, for example, assist in making reminders, checking the weather, playing music, and much more. Similarly, Philips Hue is a wireless lighting system that may turn on and off based on your needs.

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As the number of smart appliances grows, so does the need for smart home services, which helps to drive industry growth. Owners can get tailored services from skilled service providers as well as installers based on their demands. Furthermore, owners can obtain services that adhere to the most recent market trends, as service providers keep up with growing trends.

Another service that increased its presence in many homes during and after the pandemic was health technology. Smart thermostats and smart air purifiers are two examples of health tech services that might help you create a futuristic house.

Notable Insights from the Smart Home Services

  • The United States is anticipated to grow significantly with a value of US$ 11.37 billion by the end of 2033 recording a CAGR of 16.0%.
  • Asia Pacific is another region to thrive at a CAGR of 12.5% during the forecast period.

Competitive Analysis:

The presence of several well-established and novel players in the smart home services market driving the market growth. These players aim at providing numerous smart home devices to improve the quality of life that is not only intelligent but are budget-friendly. There is cut-throat competition in the market with the launch of novel products with increasing usage of AI and IoT.

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Key companies Profiled in the Market

  • Johnson Controls Inc.
  • Comcast Corporation
  • Calix, Inc.
  • Trane Technologies plc
  • Telus Corporation
  • Vivint, Inc
  • ADT Inc
  • Charter Communications Inc.

Key Developments:

  • In April 2019, Calix Inc. made a partnership with IdeaTek to expand the presence of its Gigabit service to their subscriber as well as enable incorporation and administration of its smart home device with Wi-Fi as well as cloud-based services.
  • Airbnb and Vivint, Inc., also made a partnership for managing energy consumption and home security distantly at its homes.
  • HelloTech has joined Abode Systems for specialized security system installations in February 2019. HelloTech new Abode System installation services launch with ‘do-it-for-me’ installation services, with plans to introduce additional service and support features in the future.

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Smart Home Services Market

By Service:

  • Managed
  • Integrated

By Solution:

  • Security and Access
  • Lighting and Window
  • Audio-Visual and Entertainment
  • Energy Management and Climate

By Region

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

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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Multi-Wall Bags Market Projected to Expand at a Robust CAGR of 4.6%, Driven by High Demand for Plastic Multi-Wall Bag Material

The multiwall bags market is poised for substantial growth, according to recent analysis projecting an average Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period. By 2023, the market is anticipated to achieve a revenue of US$ 15.57 billion, with expectations to surpass US$ 24.42 billion by 2033.

Future Market Insights (FMI) analysis indicates a dominant preference for plastic multiwall bags, expected to hold a significant share of approximately 73.9% in the global multiwall bags market. This underscores the widespread adoption of plastic material in multiwall bag manufacturing processes.

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The surge in demand for lightweight, cost-effective, and convenient packaging solutions is expected to propel the growth of the plastic bags segment significantly during the forecast period. Industries such as food & grains, pharmaceuticals, and retail are driving this demand, with the worldwide plastic multiwall bags market projected to expand at a CAGR of 4.6%.

The Asia Pacific region is anticipated to witness high demand for multiwall bags during the projection period. Factors such as a growing working population, strengthening global economy, and increasing local demand for ready-to-eat & convenience food products contribute to this trend.

Flexible packaging solutions like multiwall bags have seen heightened demand from various industries including food and beverage, agriculture, and healthcare, driven by the need to preserve hygiene and safeguard products from damage.

The COVID-19 crisis has further accentuated the importance of packaged goods, leading to a surge in the use of paper and plastic bags in the food and beverage industry. Additionally, companies worldwide are increasingly adopting multiwall bags due to their sustainability, with governments subsidizing sustainable packaging businesses including the multiwall paper bags industry.

In light of the growing prominence of e-commerce, multiwall bag producers are migrating towards online platforms to capitalize on the expanding market opportunities. The rise in online shopping during the COVID-19 pandemic has boosted demand for fast-moving consumer goods (FMCG), electronics, and food and beverages, further driving the multiwall bags market.

Key Takeaways:

  1. The United States market leads the multiwall bags market in terms of market share in North America. The United States region held a market share of 18.3% in 2023. The growth in this region is attributed to the expanding outlets, attractive creative packaging, and sustainable packaging. North America region held a significant market share of 27.1% in 2022.
  2. Germany market is another successful market in the Europe region. The market holds a market share of 4.3% in 2022. The growth is attributed to the bans on plastic packaging and growing awareness around carbon emissions. Europe region held a market share of 24.7% in 2022.
  3. India’s multiwall bags market booms at a CAGR of 6.0% during the forecast period. The market’s growth is attributed to proliferating packaged food sales along with the focus on promoting paper bags.
  4. China’s market also thrives at a CAGR of 5.6% between 2023 and 2033. The growth is caused by the high penetration of innovative ideas.
  5. Based on material type, the plastic segment held the leading market share of 70.6% in 2022.
  6. Based on end-use type, the food segment performs well as it held a leading market share of 38.3% in 2022.

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Growth Opportunities in Multiwall Bags Industry:

  1. Sustainable Packaging Demand: Growing emphasis on sustainable and eco-friendly packaging solutions presents a significant opportunity for multiwall bags, as they are often made from recyclable materials.
  2. Food and Agriculture Sector: Increased demand for efficient and durable packaging in the food and agriculture industry, driven by population growth and changing consumer preferences, creates a substantial market opportunity for multiwall bags.
  3. Emerging Markets: Expansion into emerging markets, especially in Asia and Latin America, offers potential growth due to increased industrialization, rising disposable incomes, and a growing need for reliable packaging solutions.
  4. Innovative Materials: Research and development in materials technology, including the use of advanced polymers and coatings, can enhance the performance and versatility of multiwall bags, providing a competitive edge and new growth avenues.
  5. E-commerce Packaging Solutions: The rise of e-commerce and online retailing creates opportunities for multiwall bags in the packaging of various products, particularly in sectors like pet food, chemicals, and bulk goods.

Industry Trends:

  1. Digital Printing Technology: Adoption of digital printing on multiwall bags is increasing, allowing for customized and vibrant designs, as well as variable data printing for branding and product information.
  2. Focus on Lightweighting: Industry trends show a shift towards lightweight yet strong materials for multiwall bags, aiming to reduce environmental impact, transportation costs, and overall packaging expenses.
  3. Barrier Coatings: The incorporation of advanced barrier coatings, such as those providing moisture resistance and extended shelf life, is a prevailing trend to enhance the functionality and protective qualities of multiwall bags.
  4. Regulatory Compliance: Stringent regulations regarding packaging materials and waste management are influencing the industry, leading to innovations in eco-friendly, biodegradable, and compliant multiwall bag solutions.
  5. Evolving Design for Convenience: The market is witnessing a trend towards user-friendly and convenient designs, including features like easy-open seals, resealable closures, and ergonomic handles, catering to consumer preferences for hassle-free handling and storage.

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Global Multiwall Bags Market By Category

By Material:

  • Plastic
  • Paper

By Capacity:

  • Up to 5Kg
  • 6Kg to 10Kg
  • 11Kg to 25Kg
  • Above 25Kg

By End-use:

  • Food
  • Chemical & Fertilizers
  • Building & Construction
  • Automotive
  • Other End Use

By Region:

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

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

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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Revenue Management Software Market Poised for Significant Growth, Driven by Innovative Solutions and Expanding Applications

The revenue management software market is predicted to be worth US$ 20.09 billion in 2023, and rise to US$ 71.27 billion by 2033. The global industry was expanding at a CAGR of 9.6% during 2018 to 2022.The distinctive features of revenue management software can change the pace of the market growth. The foundation of a next-generation revenue management system is machine learning and AI, and it is built on self-learning algorithms that improve accuracy over time.

A new trend for all industries is moving towards cloud-based deployment, which has a significant impact on the need for revenue management software. Companies must prioritize mobile optimization if they want to stay ahead of the competition.

Owing to this, optimizing a website for mobile devices ensures that the pages load quickly and display content on diverse mobile devices.

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Profitable Market Opportunity

Better pricing strategies for long-term decisions based on competitor data and evolving trends are made possible with the aid of a revenue management system. Also, the growing use of mobile devices is boosting subscription-based billing and revenue management platforms, which is a major driver fueling the market’s expansion.

Over the years, the global IT and telecom industry has experienced enormous expansion. The demand for revenue management software in the global IT & telecom business is being fueled by the industry’s growing offering of revenue-generating goods and services.

Key Takeaways

  • By 2033, the revenue management software market in Europe is likely to expand with the emerging AI technologies.
  • The revenue management software market was significantly expanding, with a size of US$ 17.7 billion in 2022.
  • The market is anticipated to expand at a valuation of US$ 29.37 billion by 2026, as a result of rising applications in different verticals.
  • Due to the market’s excellent potential and rising demand for data integration, analysts expect it is likely to rise 1.13 times between 2022 and 2023.
  • China is likely to expand significantly in the revenue management software market, with a CAGR of 18.6% by 2033.
  • By 2033, the United States is anticipated to dominate the North American region, with a valuation of US$ 36.8 billion by 2033.
  • Based on components, the risk management solutions dominated the market in 2022 and continued to lead the market with a 12.2 % CAGR during the forecast period.
  • Based on deployment, the cloud-based segment led the market share in 2022, and continues to lead the market with a CAGR of 12% during the forecast period.

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Critical Approaches Increasing Top Players’ Wealth

Key market players are spending in product launches, alliances, mergers and acquisitions, and expansions to obtain a competitive edge in the sector. Moreover, market expansion is anticipated to be fueled by present players working together to boost quality over the course of the research period.

Recent Developments

  • In February 2022, Agilysys, Inc., a producer of next-generation Software as a Service hospitality software solutions and services, and Integrated Decisions and Systems, an SAS firm, announced a cooperation.
  • The multi-tenanted BSS platform from Cerillion became live for LINK Mobility in various European nations in November 2022. With Cerillion’s assistance, LINK harmonized its billing practices throughout Europe.

Market Segments Covered in Revenue Management Software Market Analysis

By Solution:

  • Risk Management
  • Price & Revenue Forecast Management
  • Revenue Analytics
  • Revenue Leakage Detection
  • Channel Revenue Management

By Services:

  • Managed Services
  • Professional Services

By Deployment:

  • Cloud
  • On Premise

By Vertical:

  • Banking, Financial Services and Insurance (BFSI)
  • Government & Defence
  • Telecommunications & IT (ICT)
  • Retail
  • Energy & Utilities
  • Healthcare

By Region:

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

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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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Future Market Insights Inc.
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Pad Printing Machine Market Poised for Steady Growth, Driven by Increasing Demand from Healthcare Industry

The Global Pad Printing Machine Market is poised for substantial growth, as indicated by Future Market Insights (FMI). Estimated at US$ 1,136.7 million in 2023, the market is projected to witness a noteworthy CAGR of 5.3% from 2023 to 2033, reaching a valuation of US$ 1,897.8 million by the assessment period’s end.

These machines are gaining prominence for their role in efficiently marking and printing a wide array of products, particularly within the healthcare industry. The demand for pad printing machines capable of handling simple single-color images to intricate multicolored graphics is driving sales growth.

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The versatility of pad printing is evident across multiple sectors, from printing labels on textiles and automotive components to delicate designs on consumer goods packaging. Among these applications, the pharmaceutical and medical devices sector stands out, utilizing pad printing to mark intricate details on syringes, pills, surgical instruments, catheter tubes, and more. This diverse range of applications underscores the evolving landscape of the Pad Printing Machine Market.

Market Innovation: 

Digital Pad Printing Technology Integration

  • Explore how the integration of digital technology in pad printing machines enhances precision, flexibility, and customization capabilities, allowing for intricate designs and variable data printing.

Advanced Automation and Robotics

  • Highlight innovations in automation and robotics within pad printing machines, focusing on how these technologies streamline processes, improve efficiency, and reduce manual intervention, leading to higher production rates and cost-effectiveness.

UV LED Curing Systems for Faster Drying

  • Discuss the adoption of UV LED curing systems in pad printing machines, emphasizing how this innovation accelerates the drying process, enabling faster production speeds, energy efficiency, and enhanced print quality.

Smart Controls and IoT Connectivity

  • Explore how smart controls and Internet of Things (IoT) connectivity are revolutionizing pad printing machines, offering remote monitoring, predictive maintenance, and data analytics capabilities for improved operational efficiency and reduced downtime.

Eco-Friendly Ink Solutions

  • Highlight innovations in environmentally friendly ink formulations for pad printing machines, discussing the shift towards sustainable and non-toxic ink options that meet regulatory standards while addressing growing concerns about environmental impact.

Key Points: 

  • Growing Healthcare Application: The Pad Printing Machine Market is witnessing an increasing adoption of these machines within the healthcare industry. They are utilized for marking and printing on medical devices, pharmaceutical products, and surgical instruments due to their precision and versatility.
  • Versatile Printing Solutions: Pad printing machines offer the capability to print intricate and complex designs on various surfaces, including textiles, consumer goods packaging, automotive components, and electronic devices. Their adaptability across industries fuels their demand.
  • Rising Demand for Multicolor Printing: The market is experiencing a surge in demand for pad printing machines that can efficiently handle both single-color and multicolored printing tasks. This demand is driven by the need for diverse and visually appealing graphics.
  • Pharmaceutical and Medical Device Dominance: The prime end-users of pad printing machines are the pharmaceutical and medical devices sectors. These industries rely on pad printing for precise marking on syringes, pills, catheter tubes, and other medical equipment.
  • Continued Technological Advancements: Ongoing advancements in pad printing technology are enhancing their performance, efficiency, and ease of use. These innovations are expanding the scope of applications and driving market growth.

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key players:

  1. Inkcups Now Corp.
  2. Printex USA
  3. Illinois Tool Works Inc.
  4. Engineered Printing Solutions
  5. Printa Systems, LLC
  6. DECO Technology Group, Inc.
  7. AutoTran Inc.
  8. Winon USA
  9. Tampoprint AG
  10. Miedl & Schnall GmbH
  11. Tamponcolor TC Druckmaschinen GmbH
  12. Mascoprint Developments Limited
  13. Comec Italia Srl
  14. Teca-Print USA
  15. ESC Europa-Siebdruckmaschinen-Centrum GmbH & Co. KG

More Valuable Insights: 

By Product Type:

  • Single-Color
  • Multi-Color

By Printer Type:

  • Rotary
  • Flatbed

By Output:

  • High
  • Medium
  • Low

By End-use:

  • Pharmaceutical & Medical Devices
  • Textile / Apparel
  • Automotive
  • Consumer Goods
  • Others (Electronics, etc.)

By Region:

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

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Key Questions Covered in the Report

  • The report offers insight into pad printing machine market demand outlook for the forecast period 2021-2031
  • The market study also highlights projected sales growth for pad printing machine market between 2021 and 2031
  • Pad printing machine market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
  • Pad printing machine market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

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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Future Market Insights Inc.
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Global Liquid Biopsy Market Set for Explosive Growth with 21.7% CAGR Fueled by Forecasts US$ 10,938.6 Million Market Valuation by 2033.

Liquid Biopsy Market
Liquid Biopsy Market

The global liquid biopsy market is poised for a remarkable surge, with a projected value of US$10,938.6 million by 2033. This significant growth is anticipated to be fueled by a robust Compound Annual Growth Rate (CAGR) of 21.7% over the next decade (2023-2033).

Tumor tissue is currently the gold standard for characterizing and diagnosing cancer. Important stakeholders are attempting to remove the existing obstacles to its use in order to increase its future application. The potential of liquid biopsy techniques to identify the genetic profiles of cancer in cancer patients has also been revealed by a number of research. The studies also take into account the responses in order to track treatment and identify the earliest signs of therapeutic resistance.

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The need for more individualized treatment choices has driven the usage of liquid biopsies in recent years. Liquid biopsy is becoming more and more popular since it is affordable and accessible in many labs, especially in developing nations. For example, liquid biopsy tests are available at a number of labs in

“Key players are bringing cost reductions in liquid biopsy tests and partnering with local product distributors to strengthen their network base in target markets. Currently, a trend toward emerging economies has been spotted, as cancer cases are particularly on the rise, and a large population base provides significant opportunities in these markets,” says an FMI analyst.

Key Takeaways from the Liquid Biopsy Market Report

  • The North America liquid biopsy market is expected to account for a leading share of 50.84%. The United States is predicted to account for 43.8%, enjoying a dominant share in the global and regional markets.
  • The Europe market is anticipated to acquire a market share of 19.6% in 2023. Germany holds a prominent share in the region. In 2023, the country is predicted to amass a total of 6.6% share in the global market.
  • In Europe, the United Kingdom is predicted to expand at a robust CAGR of 26.4% through 2033.
  • In Asia Pacific, China and India display a remarkable percentage of growth, i.e., 29.7% and 24.4%, respectively, through 2033.
  • CTC (Circulating Tumor Cells) is projected to obtain a significant market share of 56.9% by biomarker type in 2023.
  • By sample type, blood sample type holds prominence in the liquid biopsy market.

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Key Developments by Liquid Biopsy Market Players

  • QIAGEN N.V. (the Netherlands), in May 2022, introduced a therascreen EGFR Plus RGQ PCR Kit, which is a new in vitro diagnostic test for the analysis of sensitive EGFR mutation.
  • Guardant Health, Inc., in June 2021, introduced Guardant360 Response test that finds variations in circulating tumor DNA (ctDNA) levels.
  • Hoffmann-La Roche Ltd. (Switzerland), in October 2020, gained United States FDA approval for the extended claims for cobas EGFR Mutation Test v2 to be deployed as a companion diagnostic for an extensive range of therapies to manage non-small cell lung cancer (NSCLC).
  • Biocept, Inc., in March 2020, agreed with a California-based Independent Physician Association (IPA) to offer its Target Selector liquid assay services to patients and physicians in the network.

Key Companies Profiled:

  • BIOCEPT, INC.
  • Qiagen N.V.
  • Trovagene, Inc
  • Janssen Global Services, LLC
  • MDxHealth SA
  • Natera, Inc
  • F. Hoffmann-La Roche Ltd
  • Silicon Biosystems
  • Pathway Genomics Corporation
  • Sysmex Corporation
  • Others

Key Segments Profiled in the Liquid Biopsy Industry Survey:

By Biomarker Type:

  • CTCs (Circulating Tumour Cells)
  • ctNA (Circulating tumor Nucleic Acids)
  • Exosomes

By Sample Type:

  • Blood Liquid Biopsy
  • Urine Liquid Biopsy
  • Other (Plasma, Saliva, CSF) Liquid Biopsy

By Application Type:

  • Liquid Biopsy for Lung Cancer
  • Liquid Biopsy for Gastrointestinal Cancer
  • Liquid Biopsy for Prostate Cancer
  • Liquid Biopsy for Breast Cancer
  • Liquid Biopsy for Colorectal Cancer
  • Liquid Biopsy for Leukemia

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Japan
  • Middle East and Africa

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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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T: +1-845-579-5705
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Electronic Manufacturing Services Market Poised to Achieve Remarkable Growth, Exceeding US$ 859.96 Billion by 2033

The increasing demand and strong sales of consumer electronics are expected to propel the worldwide market for Electronic Manufacturing Services (EMS) to significant growth. By the end of 2023, the Electronic Manufacturing Services market is expected to be valued US$ 541,554.4 million, based on the most recent market forecasts.

It is anticipated that this market would grow at a consistent 4.7% Compound Annual Growth Rate (CAGR) from 2023 to 2033, reaching a peak value of around US$ 859,959.3 million by that year.

Since its launch, Electronic Manufacturing Services have found favour with many different sectors because of its wide range of applications, including mission control PCs in satellites and aeroplanes, control frameworks for radar surveillance, and more.

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Electronic Manufacturing Services Market: Drivers and Challenges

An increased demand and sales of electronics, especially consumer electronics, is witnessed globally which is further expected to rise in the forecast period. This demand correspondingly increases the adoption and implementation of Electronic Manufacturing Services, which as a result, drives the global Electronics Manufacturing Services market.

In addition to this, implementation and utilization of Electronic Manufacturing Services offers flexibility aligned with market demand, provides continuous supply of services, mitigates the risk and reduces the overall operational cost of a company. These factors are expected to, furthermore, drive the growth of Electronic Manufacturing Services market.

The decline in the adoption of Personal Computers (desktops, notebooks, etc.) is one of the major factors challenging the growth of Electronic Manufacturing Services market.

Electronic Manufacturing Services Market

Key Players

Some of the key players in the Electronic Manufacturing Services market are Benchmark Electronics, Inc., Creation Technologies LP, Celestica Inc., Venture Corporation Limited, Sparqtron Corporation, NATEL ENGINEERING CO., INC., API Technologies Corp, FLEX LTD., Foxconn Electronics Inc. and Integrated Micro-Electronics, Inc.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

Competition Analysis – Regional Trends:

The Electronic Manufacturing Services landscape is marked by intense competition on a global scale. Leading players in regions such as North America, Europe, Asia-Pacific, and Latin America are vying for market dominance. Asia-Pacific, in particular, stands out as a frontrunner in the market, owing to its robust manufacturing infrastructure, skilled labor force, and favorable regulatory environment. North America and Europe, while mature markets, continue to play a significant role in shaping industry trends through technological advancements and innovations.

  • In May 2022- Ohio. Hon Hai Technology Group (“Foxconn”), signed a contract with Lordstown Motors Corp. (“Lordstown Motors” or “LMC”) for a manufacturing agreement and a joint venture agreement for product development.
  • In August 2021, Toronto-based contract electronics manufacturer Celestica Inc. marked the grand opening of its AbelConn Electronics facility in Maple Grove, Minn, a wholly-owned subsidiary of Celestica. The facility provides rapid prototyping, volume manufacturing, and engineering support for the defense and aerospace industries.
  • In August 2022, Taiwanese electronics giant Foxconn is looking at making electric vehicles in India, part of a larger diversification plan to expand its Asian manufacturing supply chain beyond China, according to people aware of developments at the contract phone maker for Apple.

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Key Segments Covered in the Electronic Manufacturing Services Industry Analysis

Electronic Manufacturing Services Market by Industry:

  • Electronic Manufacturing Services for Medical and Healthcare
  • Electronic Manufacturing Services for Defence and Aerospace
  • Electronic Manufacturing Services for Industrial Applications
  • Electronic Manufacturing Services for IT and Telecommunication
  • Electronic Manufacturing Services for Other Applications

Electronic Manufacturing Services Market by Region:

  • North America Electronic Manufacturing Services Market
  • Latin America Electronic Manufacturing Services Market
  • Europe Electronic Manufacturing Services Market
  • Asia Pacific Electronic Manufacturing Services Market
  • Middle East & Africa Electronic Manufacturing Services Market

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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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Calibration Management Software Market: Projected CAGR of 5.3%, Valued at US$ 335.2 Million in 2023

The calibration management software market is valued at US$ 335.2 million in 2023 and is predicted to surpass US$ 563.5 million by 2033.  The demand for calibration management software is expected to expand at a modest 5.3% CAGR during the forecast period.

The calibration management software industry is driven by several factors contributing to its development and acceptance in various industries.  One significant reason is the increased focus on quality control and regulatory compliance across businesses.  The need for calibration management software has increased due to the growth in the number of people using it.  Furthermore, the use of software solutions is driven by the requirement for efficient and automated calibration procedures, improved documentation, and traceability.  The capacity of calibration management software to increase productivity, eliminate mistakes, and assure regulatory compliance is a major industry driver.

Although the calibration management software market is expanding, several limitations prevent it from being widely used.  The initial expenditure necessary to deploy and integrate calibration management software into existing systems is a substantial constraint.  The expense of software licensing, hardware infrastructure, and personnel training may put off some firms.  Furthermore, resistance to change and an unwillingness to abandon manual or old calibration methods might stymie software solution adoption.  Overcoming these roadblocks and establishing the long-term value of calibration management software is critical for industry success.

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Various interesting opportunities exist for software suppliers and service vendors in the calibration management software industry.  The growing need for cloud-based calibration management systems represents a huge potential.  Cloud technology enables enterprises to consolidate their calibration processes, cooperate across sites, and simply manage compliance by providing scalability, flexibility, and remote access.  Furthermore, the incorporation of cutting-edge technologies such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) in calibration management software offers up new avenues for automation, predictive maintenance, and data-driven decision-making.

Several important developments shape the calibration management software industry’s environment and drive innovation.  The integration of mobile apps and devices in calibration procedures is an important development.  Technicians may use mobile solutions to obtain calibration data, make on-site measurements, and update records in real-time, increasing efficiency and decreasing human errors.  Furthermore, data analytics and business intelligence are becoming increasingly important in calibration management software.  Organizations may improve their calibration processes, discover patterns, and make educated choices by analyzing calibration data, creating reports, and getting insights from the gathered data.

Key Takeaways from the Calibration Management Software Market:

  • The United States holds a market share of 19.8% in 2023, indicating its significant presence and contribution to the calibration management software industry.
  • Germany captures a market share of 9.2% in 2023, showcasing its position and share in the global calibration management software market.
  • Japan secures a substantial market share of 6.3% in 2023, highlighting its dominance and a strong foothold in the calibration management software industry.
  • Australia demonstrates steady growth potential with a projected CAGR of 2.4% during the forecast period, indicating a stable market for calibration management software.
  • China exhibits a high growth rate with a projected CAGR of 7.4% during the forecast period, reflecting the expanding calibration management software market driven by its thriving industrial sectors.
  • India presents significant growth potential with a projected CAGR of 6.2% during the forecast period, indicating the increasing adoption of calibration management software in various industries.
  • The United Kingdom showcases a steady growth rate with a projected CAGR of 5.7% during the forecast period, indicating sustained demand and opportunities in the calibration management software market.
  • On-premises deployment dominates the market with a substantial market share of 61.7%, indicating the preference for localized calibration management software solutions that offer control and security.
  • Large enterprises capture a significant market share of 62.8%, underscoring their extensive adoption of calibration management software to meet their operations’ complex calibration needs and regulatory compliance requirements.

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What are Key Players Doing to Thrive in the Calibration Management Software Market?

The calibration management software industry’s competitive landscape is characterized by several key players striving to deliver innovative solutions and capture market share.  These key players compete based on software functionality, ease of use, scalability, integration capabilities, customer support, and industry-specific features.  Their continuous innovation and commitment to delivering reliable calibration management software contribute to the growth and dynamism of the industry.

  • Fluke Corporation: Fluke Corporation is a renowned player in the calibration management software market, offering various software solutions for calibration and asset management. The company’s focus on accuracy, reliability, and user-friendly interfaces has positioned it as a leading provider in the industry.
  • Ape Software: Ape Software specializes in calibration management software, providing comprehensive solutions for tracking, scheduling, and managing calibration processes. The company’s commitment to customization, ease of use, and customer support has earned it a competitive edge.
  • CyberMetrics Corporation: CyberMetrics Corporation is a prominent player in the calibration management software industry, offering software solutions for calibration, maintenance, and quality management. The company’s emphasis on compliance, scalability, and integration capabilities has solidified its position in the market.
  • Siemens Digital Industries Software: Siemens Digital Industries Software provides calibration management software solutions that integrate with their broader manufacturing and quality management tools suite. The company’s focus on end-to-end solutions, automation, and seamless data integration caters to the needs of diverse industries.
  • MasterControl Inc.: MasterControl Inc. offers calibration management software that enables organizations to streamline their calibration processes and ensure compliance. The company’s commitment to regulatory compliance, risk management, and audit readiness has established it as a competitive player in the market.

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Key Segments in the Calibration Management Software Market

By Deployment Type:

  • Cloud
  • On-premise

By Enterprise:

  • Small & medium enterprise
  • Large enterprise

By End-User:

  • IT & Telecom
  • Healthcare
  • BFSI
  • Government
  • Manufacturing
  • Construction
  • Other

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

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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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