Market Research Blog – Page 3392 – New Product Development

Blood Temperature Indicator Market is Projected to Grow at an impressive CAGR of nearly 12% to 13% by 2032 | FMI

The market for blood temperature indicators is expected to reach US$ 210 million by 2021. According to estimates, blood temperature indicators will generate US$ 235 million in sales by 2022, growing at a remarkable rate of roughly 12% to 13% between 2022 and 2032.

In the medical and healthcare sector, there is a surging demand for blood temperature indicators, crucial devices affixed directly to blood bags. Their popularity is swiftly rising due to their capability to provide real-time temperature measurement, ensuring the continuous monitoring and precise recording of blood temperature throughout storage, handling, and transportation processes.

North America is poised to take the lead as the most lucrative market for blood temperature indicators, with projections spanning from 2022 to 2032. The region’s prominence in this market is attributed to a growing emphasis on maintaining the appropriate temperature of blood bags during storage and transportation to ensure the quality of blood. This heightened focus has triggered a swift surge in demand for blood temperature indicators.

To capitalize on this expanding demand, notable manufacturers are strategically pursuing merger and acquisition endeavors to diversify their product offerings. An illustrative case is Zebra Technologies, an American provider of real-time monitoring solutions. In 2019, Zebra Technologies acquired Temptime Corporation, a manufacturer of temperature monitoring solutions. This strategic move augmented their product portfolio, specifically in the domain of medical temperature indicating devices. Such developments are expected to facilitate and bolster the growth of the blood temperature indicator market in North America.

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South Asia is poised to play a pivotal role in the global blood temperature indicators market, making significant strides from 2022 to 2032, as noted by Future Market Insights (FMI). The region’s prominence is driven by the escalating incidence of road accidents and the increasing burden of blood-related diseases, which have led to a substantial rise in blood transfusion activities across Asia Pacific.

This surge in blood and blood component demand has created a robust market for associated medical devices, including blood temperature indicators. To illustrate, in India, where the Friends2support Organization reports an annual requirement of approximately 50 million units of blood and around 30 million units of blood components, blood temperature indicators are employed on nearly every blood bag. As such, the growing demand for blood and its components is poised to provide a favorable tailwind to the South Asia blood temperature indicator market’s growth.

Blood Temperature Indicator Market: Key Players

Examples of some of the key players operating in the global blood temperature indicator market are:

Temptime Corporation,
Elitech,
Timestrip UK Ltd.,
Hanwell Solutions Ltd.,
Lisaline Lifescience Technologies Pvt. Ltd.

Key Drivers-

Increasing Blood Transfusion Activities: The rising need for blood and blood components due to road accidents, surgeries, and blood-related diseases is fueling the demand for blood temperature indicators to maintain the quality of stored blood.
Quality Assurance: Blood temperature indicators are crucial for ensuring the safety and quality of blood and its components, driving their adoption in healthcare facilities and blood banks.
Regulatory Compliance: Stringent regulations and guidelines related to blood storage and transportation are compelling healthcare institutions to use blood temperature indicators for compliance and safety.
Technological Advancements: Ongoing advancements in blood temperature indicator technology are enhancing their accuracy and efficiency, making them more attractive to end-users.
Growing Awareness: Increasing awareness about the importance of maintaining proper blood storage conditions is leading to greater adoption of blood temperature indicators in the healthcare sector.

Future Prospects of Blood Temperature Indicators

The future of the Blood Temperature Indicator Market looks promising, with ongoing advancements in sensor technology, data analytics, and connectivity. As these devices become more sophisticated and accessible, their adoption is likely to skyrocket, transforming patient care across the globe.

Major Restraints-

Budget Constraints: Healthcare facilities, especially in resource-constrained regions, may face budget limitations, making it challenging to invest in expensive blood temperature indicator systems.
Limited Awareness: Some healthcare providers and institutions may have limited awareness of the benefits and necessity of blood temperature indicators, leading to slower adoption rates.
Technical Expertise: Implementing and maintaining blood temperature indicator systems may require technical expertise, which can be a barrier for smaller healthcare facilities.
Regulatory Compliance Costs: Meeting regulatory standards for blood storage can be costly, particularly for smaller blood banks and clinics, impacting their ability to invest in temperature indicator technology.
Alternative Solutions: Some healthcare facilities may opt for alternative methods to monitor blood temperature, such as manual checks, which can deter investment in specialized blood temperature indicator systems.

Blood Temperature Indicator Market: Segmentation

By Material:

Polypropylene (PP)
Polyethylene (PE)
Others

By Threshold Temperature Range:

Up to 2°C
2°C to 4°C
5°C to 7°C
Above 7°C

By End Use:

Hospitals
Clinics
Blood Banks
Blood Collection Centers
Diagnostics Lab
Others

About Future Market Insights Inc. (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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Snack Pellet Equipment Market: Shaping the Delicious Future of Snacking

Snack pellets have become increasingly popular in recent years, offering a convenient and tasty on-the-go snack. These bite-sized morsels come in a variety of shapes, flavors, and textures, catering to a wide range of consumer preferences. But how are these delectable treats produced? Enter snack pellet equipment, the unsung heroes behind the scenes.

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Surge in Demand

The Snack Pellet Equipment Market is experiencing steady growth driven by several key factors:

Rising Popularity of Snack Pellets: Consumers are increasingly seeking convenient and healthy snack options. Snack pellets often boast portability, longer shelf life, and come in a variety of flavors and textures to satisfy diverse cravings.
Growing Health and Wellness Trend: Manufacturers are developing snack pellets with healthier ingredients, including whole grains, nuts, and seeds, to cater to health-conscious consumers.
Product Diversification: Snack pellet equipment is versatile and can produce a wide range of snacks, from breakfast cereals and protein bars to puffed snacks and candy. This versatility allows manufacturers to tap into different market segments.
Expanding Global Market: The growing popularity of snack pellets in developing countries is creating new demand for snack pellet equipment manufacturers.

Snack Pellet Equipment Manufacturers

Several manufacturers are leading the way in snack pellet equipment innovation:

Bühler Group (Switzerland) is a global leader in food processing technologies, offering a wide range of equipment for snack pellet production, including extruders, dryers, and coolers.

The Wenger Company (US) specializes in extrusion cooking technologies and offers a variety of single-screw and twin-screw extruders suitable for snack pellet production.

Aasted Danmark (Denmark) manufactures a range of food processing equipment, including extruders, cookers, and dryers used in snack pellet production lines.
Reading Bakery Systems (US) focuses on the design and manufacture of innovative baking and snack equipment, including pellet cooking systems.

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Opportunities

The growing demand for snack pellets presents exciting opportunities for businesses across the food processing value chain:

Equipment Manufacturers: Developing innovative and versatile snack pellet equipment that caters to the evolving needs of food producers will be crucial for capturing market share. A focus on automation, energy efficiency, and customizable production lines will be key differentiators.
Ingredient Suppliers: The development of healthier and more innovative ingredients for snack pellets will be in high demand. Suppliers who can provide high-quality grains, nuts, seeds, and other functional ingredients will be well-positioned for growth.
Packaging Manufacturers: Packaging solutions that maintain freshness, portability, and visual appeal will be essential for snack pellet producers. Developing sustainable and eco-friendly packaging options will be an added advantage.

A Snacking Revolution

As the snack pellet market continues to flourish, we can expect to see some interesting trends emerge:

Smart Snack Pellet Equipment: Integration of digital technologies like process monitoring, remote diagnostics, and data-driven recipe management will optimize production efficiency and product quality.
Focus on Sustainability: Manufacturers will strive to develop energy-efficient equipment and explore sustainable materials for machine components and packaging.
Personalized Snacking: The ability to produce customized snack pellets with specific flavors, textures, and ingredients to cater to individual dietary needs or preferences could be a future game-changer.

Buttress Closures Market is Expected to Grow at a 7% CAGR by 2032 | FMI

Global sales of buttress closures are expected to achieve a substantial market value in 2022 and exhibit considerable growth by 2032, with a predicted growth rate of 7% throughout the forecast period from 2022 to 2032. This anticipated expansion is attributed to the increasing demand for buttress closures across various industries, including pharmaceuticals and beverages, driven by their effective sealing and tamper-evident features. Manufacturers are poised to capitalize on this trend, introducing innovations and advanced closure solutions to meet the evolving needs of the packaging sector. The market’s optimistic trajectory underscores its potential for substantial development and market influence.

The food & beverage sector has experienced significant growth over the past few years. This expansion of the sector has resulted in a notable surge in the demand for effective packaging solutions that can offer longer shelf life to edibles. That is why buttress closures sales are predicted to surge notably. Buttress closures have been concluded as one of the most adequate options to offer an accomplished packaging style.

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In the Buttress Closures Market, the Asia-Pacific (APAC) region is positioned to lead the way throughout the forecast period. This growth is driven by the escalating demand for ready-to-drink beverages, further accentuating the need for buttress closures. China is expected to spearhead buttress closures sales in the region, with India presenting substantial opportunities. Technological advancements in the food and beverage sector, coupled with rising disposable incomes, contribute to the growing demand for buttress closures in the APAC region.

Market Drivers:

Increased Demand for Packaging Solutions: Growing industries such as food and beverage, pharmaceuticals, and personal care often drive the demand for innovative packaging solutions, including buttress closures.
Focus on Sustainability: Consumers and companies are increasingly prioritizing sustainable and eco-friendly packaging options. Buttress closures that are recyclable or made from sustainable materials may experience higher demand.
Advancements in Technology: Technological advancements in manufacturing processes can lead to more efficient and cost-effective production of buttress closures, driving market growth.
Regulatory Compliance: Stringent regulations regarding packaging materials and safety may drive companies to adopt high-quality closures, including buttress closures, to comply with industry standards and regulations.

Market Restraints:

Raw Material Costs: Fluctuations in the prices of raw materials, such as plastics or metals used in buttress closures, can impact production costs and potentially limit market growth.
Competition from Alternatives: Buttress closures may face competition from alternative closure solutions, such as screw caps or other types of lids. The market may be restrained if these alternatives offer better cost-effectiveness or performance.
Global Economic Factors: Economic downturns or uncertainties can affect consumer spending and industry investments, impacting the demand for packaging solutions, including buttress closures.
Supply Chain Disruptions: Disruptions in the supply chain, such as those caused by natural disasters, geopolitical events, or global health crises (as seen with the COVID-19 pandemic), can impact the availability of raw materials and the production of buttress closures.

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Market Competition

The eminent players of the global buttress closures Industry include

BERICAP,
Holding GmbH,
O.Berk,
Tri-Sure,
Mold-Rite Plastics, among others.

Riding the Waves of Innovation

Innovation remains a cornerstone of the Buttress Closures Industry. Industry leaders are consistently pushing the boundaries of design and functionality, resulting in cutting-edge solutions that redefine packaging norms. Collaborations between manufacturers and businesses have led to advancements such as:

Tamper-Evident Solutions: Advanced tamper-evident features provide an additional layer of security, assuring consumers of product integrity.
Sustainability Initiatives: With a growing focus on environmental responsibility, manufacturers are developing eco-friendly closure options that align with sustainable practices.
Smart Packaging Integration: Some Buttress closures are now equipped with smart technology, allowing consumers to track product information and expiration dates through QR codes or RFID tags.

Key Segments Profiled in the Global Buttress Closures Industry

Material Type:

Plastic Buttress Closures
- Polyethylene (PE)
  - LDPE/LLDPE
  - HDPE
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Others (PS, etc.)
Metal Buttress Closures

End Use:

Buttress Closures for Beverages
Non-Carbonated Drinks

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Frequently Asked Questions (FAQs)

What will be the growth of Buttress Closures Industry in the coming years?
Who are the key players in the Buttress Closures Market?
What will be the size of Buttress Closures Industry in the foreseeable future?
Which end-use type is expected to register significant growth in the Buttress Closures Market?
Which region accounted for the largest share in the Buttress Closures Industry?
Who are the target audience in the Buttress Closures 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.

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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India’s Coronary Stent Market Poised for Significant Growth of US$ 1,213.5 Million Demand Expected to Surge by 2033

The Indian coronary stent market is expected to witness a substantial leap, with a projected market size of US$ 1,213.5 million by 2033, compared to US$ 843.8 million in 2023. This significant expansion is attributed to an anticipated Compound Annual Growth Rate (CAGR) of 3.7% in the demand for coronary stents within India over the next decade.

The surge in coronary stent adoption is primarily driven by the alarming rise in cardiovascular disease (CVD) across India. This concerning trend is linked to factors like an aging population, increasing urbanization, and unhealthy lifestyle choices. Consequently, the demand for coronary stents, which play a vital role in managing CVD, has witnessed a significant upswing.

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Furthermore, the Indian healthcare landscape is experiencing a growth in the number of interventional cardiologists, coupled with an expansion of Cath labs. These advancements are evident in both public and private hospitals, with new corporate hospitals further contributing to the market’s expansion.

Factors Fueling the Growth:

Rising CVD Incidence: The alarming increase in cardiovascular disease creates a critical need for effective treatment options, including coronary stents.
Expanding Medical Infrastructure: The number of interventional cardiologists and Cath labs is steadily increasing in both public and private healthcare facilities, including new corporate hospitals. This enhanced infrastructure facilitates a wider range of cardiac interventions.
Government Initiatives: Supportive government programs aimed at improving healthcare accessibility and infrastructure play a crucial role in the growth of the coronary stent industry. Initiatives focused on regulating prices and enhancing access to cardiac treatments, such as the National Pharmaceutical Pricing Authority of India (NPPA)’s reduction in DES prices in February 2018, further stimulate the market by making coronary stents more affordable.

“There is a sizable untapped industry in rural places where access to high-quality healthcare is scarce. The development of healthcare infrastructure in these areas offers coronary stent producers a huge window of opportunity for expansion,” according to a lead healthcare industry analyst at Future Market Insights.

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Key Takeaways

In patients with PCI with a high risk of bleeding, a balloon stent covered with paclitaxel and iopromide is preferable over bare metal stents in India.
In 2023, drug-eluting stent is leading the adoption of coronary stents in India, favored for their proven effectiveness and global acceptance in the medical community.
Abbott Laboratories is India’s industry leader for coronary stents as of 2023, followed by Biotronik SE & Co, Boston Scientific, and Medtronic.

Competitive Landscape

In the coronary stent industry, one can observe a certain level of fragmentation, marked by numerous contenders vying for a slice of the industry pie. Alongside dominant leaders, there exists a significant presence of smaller regional players, contributing to a competitive landscape. As part of their strategic approach, manufacturers have invested substantial resources into research and development. They have also adeptly adjusted pricing models to maintain competitiveness, with a focus on reaching a broader customer base without compromising product quality.

Recent Developments

The E-MAGIC Plus Sirolimus Drug-Eluting Stent was introduced by Opto Eurocor Healthcare Limited (OEHL), a division of Bangalore-based Opto Circuits (India) Ltd., a medical equipment manufacturer. The launch occurred after receiving permission from the Drug Controller General of India (DCGI) to sell and advertise the medicine in India. With the introduction of E-MAGIC Plus, Opto Circuits has joined a select group of international companies that provide DES devices with two drug coatings.
For eligibility to sell Infinnium in the European Union and numerous other countries across the world, Sahajanand Medical Technologies (SMT) has been granted CE certification, a certificate of authorization. The Infinnium paclitaxel-eluting coronary stent system is a first-of-its-kind locally designed coronary stent for treating coronary artery disease (CAD) and provides unparalleled clinical outcomes with an outstanding safety profile.

Key Industry Players Profiled in the India Coronary Stent Report:

Abbott Laboratories
Medtronic, Inc.
Biosensors Inc.
Boston Scientific Inc.

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Key Segments:

By Product Type:

Drug-eluting Stent
Bare Metal Stent
Bioresorbable Vascular Stent

By Raw Material Type:

Cobalt Chromium
Stainless Steel
Platinum Chromium
Polymer

By End User:

Hospitals
Ambulatory Surgical Centres
Cardiac Catheterization Laboratories

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Global Respiratory Inhaler Market Expected to Reach US$ 60,114.7 Million by 2033, Driven by Rising Respiratory Diseases and Smart Technology

The global respiratory inhalers market is poised for a significant breath of fresh air, with a projected valuation of US$ 60,114.7 million by 2033. This represents a robust Compound Annual Growth Rate (CAGR) of 4.90%, building upon a strong foundation of US$ 37,258.5 million in 2023.

Several key factors are driving this market expansion. Firstly, the rising prevalence of respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD) is creating a strong demand for effective treatment solutions. Inhalers play a vital role in managing these conditions by delivering medication directly to the respiratory tract.

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Secondly, the integration of smart technology into inhaler design is revolutionizing respiratory care. Smart inhalers offer enhanced functionality, allowing for better medication delivery and improved patient monitoring. This innovation is fueling a surge in product demand.

Growing Prevalence of Respiratory Diseases

A primary driver of this market growth is the continuous rise in respiratory illnesses such as asthma and chronic obstructive pulmonary disease (COPD). These conditions require regular use of inhalers to manage symptoms and improve breathing. As the global population ages and urbanization continues, the prevalence of these respiratory diseases is expected to increase, fueling the demand for inhalers.

Smart Technology Revolutionizes Inhaler Use

The integration of smart technology into inhaler design is another major growth factor. Smart inhalers offer several advantages, including:

Targeted Drug Delivery: Smart inhalers ensure medication reaches the lungs directly, maximizing treatment efficacy and minimizing side effects.
Improved Patient Management: These devices can track medication use, reminding patients about doses and offering valuable data for healthcare professionals to optimize treatment plans.
Enhanced User Experience: Smart features can simplify inhaler use, particularly for young children or elderly patients.

Innovation Fuels Market Expansion

The increasing focus on research and development (R&D) within the smart inhaler segment is expected to lead to further advancements and product innovation. This ongoing development will introduce new features that provide better analysis of patient data and treatment adherence, ultimately driving market expansion.

Key Takeaways

North America is expected to dominate the industry by accumulating over 45% revenue share by end of the forecast period.
The market in India is projected to witness fastest CAGR of 6.10% during the forecast period.
China is projected to exhibit a 20% of CAGR in respiratory inhaler devices market.
By product type, Metered dose inhalers are projected to account for 4 % market share by end of the forecast period.
By Disease Indication, Asthma is expected to lead the market by holding 8% revenue share by 2033.

“Research and development activities in enhancing the features of smart inhaler devices and new product launches will foster growth in the market,” comments an FMI analyst.

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Competitive Landscape

The Respiratory inhaler devices market is extremely competitive and consists of numerous key industry players. These players are innovating new products in the respiratory devices domain. This is expected to propel the respiratory inhaler devices market. The key industry players are:

AstraZeneca, Beximco Pharmaceuticals Ltd., Cipla Ltd., GlaxoSmithKline plc., OMRON Healthcare Europe B.V., PARI Medical Holding, Teva Pharmaceutical Industries Ltd., Koninklijke Philips N.V., Boehringer Ingelheim GmbH, Merck & Co., Inc.,

Key industry players are relying on inorganic growth strategies like acquisition, mergers, partnerships, and collaboration in order to strengthen their product portfolio. This is anticipated to fuel the global respiratory inhaler devices market.

In December 2020, ‘OMRON Healthcare’ introduced WheezeScan for children suffering from Asthma to accurately detect the presence of wheezing in young children and to remove the unpredictability of potential misdiagnosis.
In March 2021, in US and Mexico ‘AstraZeneca PLC initiated a Phase 3 clinical trial to evaluate the safety and effectiveness of budesonide/glycopyrronium/formoterol inhalers in adolescents and adults with chronic asthma inadequately controlled with standard care. The will trial will be completed in September 2023.
In May 2022, ‘Alkem’ introduced its first inhalation device, “Innohaler”, for asthma and COPD and asthma patients.

Key Companies Profiled:

AstraZeneca
Beximco Pharmaceuticals Ltd.
Boehringer Ingelheim GmbH
Cipla Ltd.
GlaxoSmithKline plc.
Koninklijke Philips N.V.
Merck & Co., Inc.
OMRON Healthcare Europe B.V.
PARI Medical Holding
Teva Pharmaceutical Industries Ltd.

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Key Segments Profiled in the Respiratory Inhalers Devices Industry Survey:

By Product:

Dry Powder Inhalers
Metered Dose Inhalers
Nebulizers
- Compressed Air Nebulizers
- Ultrasonic Nebulizers
- Mesh Nebulizers

By Technology:

Manually Operated Inhaler Devices
Digitally Operated Inhaler Devices

By Disease Indication:

Asthma
Chronic Obstructive Pulmonary Disease
Pulmonary Arterial Hypertension
Others

By Region:

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

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Nandini Singh Sawlani

USA Compounding Pharmacies Market Poised for Booming Growth Is a projected valuation of US$ 23,430.35 Million by 2033

The USA compounding pharmacy market in the United States is on track for significant expansion, with a projected valuation of US$ 23,430.35 million by 2033. This surge represents a robust Compound Annual Growth Rate (CAGR) of 7.8% anticipated between 2023 and 2033. The market’s current value is estimated to be US$ 11,099.0 million in 2023.

This growth is primarily driven by the rising demand for personalized medicine. Personalized medicine tailor’s medications to individual patients’ unique needs, enhancing treatment safety and effectiveness. Compounding pharmacies play a crucial role in this space by customizing various medications to address specific patient requirements.

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Several factors contribute to the increasing need for compounded medications:

Addressing Allergies and Intolerances: Many patients have allergies or sensitivities to certain drug ingredients. Compounded pharmacies can modify medications to eliminate these problematic components, ensuring patients can still receive the necessary treatment.
Treating Rare Diseases: Patients with rare orphan diseases often require specialized medications that may not be commercially available. Compounding pharmacies can create customized formulations to meet these specific needs.
Dosage Adjustments: For some patients, standard medication dosages might not be optimal. Compounding pharmacies can adjust dosages to better suit individual needs, improving treatment efficacy and reducing potential side effects.

Key Takeaways from the Market Study

The USA market for compounding pharmacies expanded at a CAGR of 5.2% from 2018 to 2022.
The market for USA compounding pharmacies is anticipated to be dominated by the oral and tropical medicine sector.
The sector increased its regional market share to above 60% in 2022.
The HRT market category increased its market share in the US compounding pharmacy market to 39% in 2022.
Over 27% of the market share for compounding pharmacies in the USA was taken by regular pharmacies in 2022.

“The market will see growth during the projected period due to the rising prevalence of chronic illnesses like cancer and increased financing for compounding pharmacies in the USA,” remarks an FMI analyst.

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Competitive Landscape

Prominent players in the USA Compounding Pharmacies market are Avella Specialty Pharmacy, Central Admixture Pharmacy Services Inc., Hoye’s Pharmacy, Vertisis Custom Pharmacy, Smith Caldwell Drug Store, Sixth Avenue Medical Pharmacy, Cantrell Drug Company, Clinigen Group, Dougherty’s Pharmacy, Fagron N.V.

Recent Developments

In 2021, Adamis Pharmaceuticals Corporation declared that it had signed a legal contract to sell US Compounding Inc.’s assets related to the company’s human compounding pharmacies business and clients for US$15 million before transaction costs and expenses.
In 2023, well-known American eyecare pharmaceutical manufacturer Harrow stated that ImprimisRx, a completely owned subsidiary of Harrow with a focus on compounding and mail-order pharmacies, will provide its patent-pending, future compounded Atropine formulations.
Nephron Pharmaceuticals Corporation announced the launch of a novel syringe presentation in 2022. This was done as a part of the wildly successful Nephron 503B Outsourcing Facility business, which continued to profit from the momentum brought on by exponential growth.

USA Compounding Pharmacies Market Key Companies Profiled:

Avella Specialty Pharmacy
Central Admixture Pharmacy Services Inc.
Hoye’s Pharmacy
Vertisis Custom Pharmacy
Smith Caldwell Drug Store
Sixth Avenue Medical Pharmacy
Cantrell Drug Company
Clinigen Group, Dougherty’s Pharmacy
Fagron N.V.

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Segmentation Analysis of the USA Compounding Pharmacies Market:

By Product:

Oral Medication
- Solid Medication
  - Capsules
  - Tablets
  - Mixtures
  - Lollipops
  - Lozenges
- Liquid Medication
  - Syrup
  - Solution/Liquid
  - Emulsion
  - Suspension
- Topical Medication
  - Gels
  - Ointments
  - Creams
  - Lotions
Injectable
Mouthwashes
Nasal
Ocular
Otic
Suppositories and Enemas

By Pharmacy Type:

503A Pharmacy
503B Pharmacy

By Application:

Adults
Pediatrics
Geriatrics
Veterinary

By Therapeutic Area:

Hormone Replacement Therapy
Pain Management
Dermatology
Oncology
Hematology
Dental
Others

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Nandini Singh Sawlani

Tortilla Machine Market Value: Industry to Reach US$ 19,756.4 million by 2033

The global tortilla machine market is poised for substantial growth, with projections indicating a rise from US$ 8,500.0 million in 2023 to US$ 19,756.4 million by 2033. This represents a noteworthy compound annual growth rate (CAGR) of 8.8% throughout the forecast period (2023 to 2033). The escalating adoption of tortilla machines across food processing industries, restaurants, and households serves as a primary driver propelling sales within the market.

Tortillas, characterized as unleavened flatbreads commonly used in Mexican cuisine for dishes such as burritos, tacos, and enchiladas, offer a versatile and nutritious food option. They are crafted from either corn or wheat flour, providing a savory and nutrient-rich alternative akin to chapati. With their high nutritional value and the increasing health consciousness among consumers worldwide, the demand for tortillas is experiencing a surge, consequently fueling the growth of the tortilla machine market throughout the forecast period.

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Growth Factors

In recent times, a noticeable surge in consumer awareness regarding the health advantages associated with tortillas has led to a significant uptick in demand for this versatile product, a trend that is projected to persist throughout the forecast period.

Tortillas, typically crafted from corn or wheat, boast a rich nutritional profile, encompassing proteins, vitamins, minerals, and other essential nutrients. Moreover, their low-fat content renders them an appealing substitute for bread derived from refined flour.

The escalating demand for gluten-free offerings, coupled with the remarkable nutritional benefits offered by tortillas, and the growing emphasis on health-conscious consumption patterns among consumers, are poised to act as driving forces propelling the tortilla machine market forward over the forthcoming decade.

Key Companies

UTF Group
BE&SCO Manufacturing
Coperion & Coperion K-Tron
Heisler Industries, Inc.
Culinary Depot Inc.
HIX Corp.
Special Projects International, Inc
Empire Bakery Equipment
The Lanly Co.
Heat and Control, Inc.
AM Manufacturing Company
Superior Food Machinery, Inc
Lawrence Equipment, Inc
Frain Industries
Dutchess Bakers’ Machinery Co., Inc.
Rotolok Ltd
J.c. Ford
Casa Herrera, Inc.
Bail-O-Matic

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Market by Category

By Equipment:

Tortilla Baking Oven
Tortilla Cooling Machine
Tortilla Grouping Machine

By Automation:

Manual
Semi-Automatic
Fully-Automatic

By End User:

Food processing Industries
Restaurants
Household
Caterers

By Region:

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

About Us

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
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Soap Boxes Market is Projected to Reach at a US$ 67.95 Billion by 2033 | FMI

From 2023 to 2033, the soap boxes market is projected to grow at a consistent CAGR of 5.4%. According to forecasts, the soap box demand to advance from US$ 40.16 billion in 2023 to US$ 67.95 billion in 2033.

Growing consumer awareness of personal hygiene and care and the appeal of environmentally friendly and sustainable packaging options may promote market expansion. Sales may increase as the Internet retail market expands.

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Driving Forces Shaping the Soap Boxes Market: Sustainability, Online Retail, and Customization

Several key factors escalate the soap boxes market. The increasing global population and awareness of personal hygiene push the demand for soap boxes.

The growing consumer preference for eco-friendly and sustainable packaging solutions fuels the adoption of recyclable and biodegradable soap boxes. The expanding online retail sector provides a convenient platform for consumers to access soap products, contributing to market growth.

Innovative packaging designs and customization options offered by manufacturers attract customers. Gifting personalized soap boxes also contributes to market expansion, serving as unique and thoughtful gifts for various occasions.

Challenges and Restraints Impacting the Soap Boxes Market

The fluctuating raw material prices can increase manufacturers’ production costs, affecting pricing and profit margins. Stringent government regulations on packaging materials and waste disposal create challenges for compliance, particularly in regions with strict environmental standards.

Competition from alternative packaging solutions, such as refill stations and package-free options, can divert consumer preferences away from traditional soap boxes. The economic slowdown in some regions and shifts in consumer buying behavior may dampen overall demand. Addressing these challenges may be crucial for sustained soap boxes market growth.

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Regional Outlook

There is expected to be an increase in the use of washing and bathing surfactant products for hygiene purposes in the North American region. This growth can be attributed to the increase in coronavirus-infected patients in the United States during the first half of 2020.

Asia Pacific is projected to hold a sizable market share for soap boxes due to densely populated countries like China and India in the region. Increased literacy in the area is also anticipated to raise people’s understanding of the importance of hygiene, which may enhance soap box demand. The demand for soap boxes is increasing due to growing urbanization and lifestyle changes.

South American, Middle Eastern and African markets are emerging regions. The demand for hygiene products in these regions is probably driven by the rise in hygiene programs, such as hand hygiene, by organizations like the World Health Organization (WHO).

Key Takeaways

The non-degradable category is anticipated to dominate the market by 2033 with a CAGR of 2.7%.
The material type segment for kraft paperboard packaging is anticipated to profit from the strong upward growth trajectory of paper recycling throughout the expected time frame.
The amount of retail sales conducted online is rapidly rising. E-commerce trade is expected to grow in Europe at a 20% annual growth rate.

Competitive Landscape

The competition in the soap box market is intense and dynamic. Numerous packaging companies established players, and emerging startups vie for market share. Factors influencing competition include product quality, pricing, design innovation, sustainability features, and customization capabilities.

Soap box manufacturers continuously seek ways to differentiate their offerings to attract consumers and secure partnerships with soap producers. Companies must stay agile and responsive to consumer trends as the market evolves to maintain a competitive edge.

Novel Developments

McLaren has invested £350,000 in Blue Box Design

McLaren Packaging has invested £350,000 in Blue Box Design, a company based in Stirling that produces high-end, rigid presentation boxes for the food and beverage industry. To increase revenue to £20 million and add 15 new employees by 2020, this builds on past investments at their Port Glasgow locations, which included solar panels for clean energy.

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Infrastructure Boom Drives Construction Aggregates Market: 4.86% CAGR Forecast by 2033

The construction aggregates market to reach a valuation of US$ 395.67 billion in 2023. According to Future Market Insights, the market is expected to secure a 4.86% CAGR from 2023 to 2033 and is anticipated to value US$ 636.46 billion by the end of 2033.

Increase in infrastructural spending i.e., the growth in population and urbanization, where the demand for infrastructure such as roads, bridges, airports, and housing is rising, with an increase in the demand for construction aggregates. Governments are thus, investing largely in the development of such infrastructural projects, with the growing demand for construction aggregates.

The construction industry also acts as a key driver of the construction aggregates market. It is because of the rise in demand for residential, commercial, and industrial construction projects, which are coupled with the increase in the need for new housing, uplifting the growth of the construction aggregates market.

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The rise in population and urbanization, with the need to construct new projects is estimated to increase hugely, thereby leading to higher demand for construction aggregates.

Key Takeaways from this Market Study:

Sales of the construction aggregates market expanded at a CAGR of 3.2% from 2018 to 2022.
Growth rate of Asia Pacific for the construction aggregates market is likely to expand at a share of 5.2%.
Demand for construction aggregates was at 3.8% CAGR from 2016 to 2020.
North America is estimated to capture a market share of 42%.
The United States is said to hold a market share of 26.8%.
Construction aggregates market in the United Kingdom is projected to expand at a CAGR of 4.33%.
Germany is said to hold a significant share in its region consisting of a market share of 16.2%.
Construction aggregates market in China is anticipated to reach a market valuation of US$ 143.3 billion.
Increasing urbanization and industrialization in the country China rises with a CAGR of 3.88%.
Asia Pacific holds an important position in this market sector with a share of 20.3%.
India’s market is likely to rise prominently at a growth rate of 5.3%.
Crushed Stone is said to have a dominant position.
Crushed stone in the construction aggregate sector rises with a growth rate of 4.2%.
Applications in Infrastructure are predicted to hold a leading position.
Infrastructure segment is expected to generate maximum revenue in the construction aggregates market with a share of 33%.

Competitive Landscape:

Latest Developments by the Key Players in the Market are:

In December 2022, Rogers Group published the memoirs of long-time collaborator Guy Hugnin.
In April 2023, PJSC LSR Group (‘LSR’ or the Company’) (MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, today announces its operating results for the first quarter of 2023.
In May 2023, Lehigh Hanson, Inc. announced it has now changed its brand to Heidelberg Materials effective immediately as this exciting new brand identity goes into effect today for the company’s corporate office and its core brands of Lehigh Cement and Hanson Aggregates. The majority of the company’s other subsidiaries in the United States and Canada will change their brands to Heidelberg Materials in the coming months.

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Prominent Players in the Construction Aggregates Market

Heidelberg Cement AG
Martin Marietta Materials Inc
LSR Group
LafargeHolcim Ltd.
Cemex SAB de CV ADR
Vulcan Materials Company
CRH plc
Adelaide Brighton Ltd.
Eurocement Group
ROGERS GROUP INC.

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

United States Laundry Facilities and Dry Cleaning Services Industry: Projected Growth with a 4.8% CAGR by 2034 – Trends, Challenges, and Opportunities Ahead

Laundry Facilities and Dry Cleaning Services in the United States

In 2023, the laundry facilities and dry cleaning services industry in the United States achieved a valuation of US$ 11,913.7 million. Showing year-on-year growth of 3.8% in 2023, the demand for these services is projected to increase to US$ 12,368.6 million in 2024. Looking ahead, the industry is forecasted to experience a Compound Annual Growth Rate (CAGR) of 4.8% over the projection period, aiming to reach a valuation of US$ 19,675.7 million by 2034.

In this nation, call centre retail laundry or dry clean services are frequently injected with on-call option because they use a complete strategy from planning till giving, in accordance with the demand of the customer, from booking through app, gathering, cleaning and washing, and finally returning washed clothes at set times. Consumers are perfectly aware of where there clothes are and can log in to see the stage of delivery they are at, through the app.

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The growing adoption of the Internet in the United States has bolstered the market for internet services. The procurement of expensive and delicate fabric garments has risen as the number of dual-income households has increased. As a result, the aforementioned factors are expected to propel the market.

Key Takeaways from Market Study

The Northeast United States laundry facilities, and dry-cleaning services Industry is expected to grow at a CAGR of 4.6% from 2023 to 2033.
In regards to revenue, coin-operated machines governed the market in 2021, accounting for 37% of the total.
From 2023 to 2033, the retail laundry or dry clean service segment is expected to grow at a 5.3% CAGR.
Based on a Planet Laundry survey, the coronavirus reduced laundry shareholders’ average earnings by 6.9% between 2019 and 2020.
The S. Laundry Facilities and Dry-Cleaning Services market was estimated at a market value of US$ 10.9 Billion in 2022.

“As more people join the workforce in the United States, there is a greater tendency for competent laundry facilities and dry-cleaning services to save both time and energy. A large percentage of these facilities and services’ customers are working professionals who struggle to find time for their daily chores because of their hectic schedules or late-night professions.” says an analyst at Future Market Insights.

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Key Market Players

Key players in the Laundry Facilities And Dry-Cleaning Services market are

CSC Service Works Inc.
Lapels Dry Cleaning
Yates Dry Cleaning & Laundry Services
ByNext
Martinizing Dry Cleaning
Angelica Corporation
Tide Cleaners
Rinse, Inc.
ZIPS Cleaners
The Huntington Company
Alsco Pty Ltd.
Alliance Laundry Systems LLC.
Others (as requested)

Because of the presence of numerous unorganized players, the market is highly fragmented. These players are distinguished by a limited number of services in their portfolio, which cater primarily to domestic customers. Key players are working hard to broaden their reach and strengthen their position in the global market. These players account for a very small percentage of the market.

The Alliance for Strong Families, the biggest national umbrella group of community centers, participated CSC in June 2021. Additionally, during the year, local CSC teams collaborated with these community centers on a wide range of volunteer opportunities, such as offering food and clothing, painting or servicing playgrounds or common spaces, and more.
Lapels Cleaners announced the launch of a Lapels Cleaners in Queen Creek, Arizona in April 2022. The new place emphasized ‘Future Garment Care,’ by satisfying the requirements of clients regardless of the cleaning procedure.
Alsco launched the new and enhanced Ecosafe Washer in October 2020. The product is ideal for cleaning water-based equipment. In the Ecosafe washer, grease and oil are converted into carbon dioxide and water via a procedure termed as bioremediation.

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Key Segmentations:

By Type:

Coin-Operated Services
Retail Laundry/ Dry Cleaning Services
Corporate/Industrial Laundry Services
Others

By Region:

Northeast
Southwest
Midwest
West
Southeast

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