Market Research Blog – Page 3528 – New Product Development

Accelerating Demand: Factors Driving the Expansion of the Two Wheeler Aftermarket Components & Consumables Market

The global two-wheeler aftermarket components and consumables market is expected to witness substantial growth, with a projected valuation of US$ 29.3 billion in 2023 and an anticipated reach of US$ 58 billion by 2033, demonstrating a solid Compound Annual Growth Rate (CAGR) of 7% from 2023 to 2033.

Several factors are contributing to the growth of the two-wheeler aftermarket components and consumables market. One of the primary drivers is the increasing sales of two-wheelers worldwide, accompanied by a growing focus on research and development initiatives aimed at developing new and innovative products. Additionally, the significant surge in two-wheeler sales across emerging economies is bolstering market demand, as the preference for two-wheelers as a mode of transportation continues to rise.

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With the rising sales of two-wheelers, there is a corresponding increase in the need for aftermarket components and aftersales services. This trend is expected to further propel the growth of the two-wheeler components and consumables market, as consumers seek quality replacement parts and accessories to maintain and enhance the performance of their vehicles. Overall, the market outlook for two-wheeler aftermarket components and consumables appears promising, driven by robust sales trends and a growing focus on product innovation and customer satisfaction within the industry.

Competitive Landscape

The market for two wheeler aftermarket components & consumables is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.

Key Companies Profiled

ZF Friedrichshafen AG
Bajaj Auto
Gabriel India Limited
Showa Corporation
KYB Corporation
TVS Motor Company
Foshan Xinmatuo Motorcycle Parts Industrial Company
Hero Motocorp Ltd.
Yamaha Motor Company Ltd.
Hella KGaA Hueck & Co
OSRAM Licht AG
BMW Group
BITUBO S.r.l.

Recent Developments in Two Wheeler Aftermarket Components & Consumables Market

On May 5, 2023, TVS Racing announced its collaboration with KidZania, a renowned edutainment theme park, to introduce a unique racing experience catered toward young enthusiasts riders, a first-of-its-kind initiative.
The first TVS Experience Centre in Singapore was inaugurated by TVS Motor Company in November 2022, showcasing its state-of-the-art facilities.
In November 2022, Yamaha Motor Co., Ltd. announced its adoption of plant-derived cellulose nanofiber (CNF) reinforced resin for marine products. This collaboration with Nippon Paper Industries Co., Ltd. marks the world’s first practical use of this material, aimed at reducing CO2 emissions and environmental impact.

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Key Segments Profiled in the Two-wheeler Aftermarket Components & Consumables Market

By Two-Wheeler Type:

Standard Motorcycle
Cruiser Motorcycle
Sports Motorcycle
Standard Scooter
Maxi Scooter
Mopeds

By Product Type:

Components
- Fuel Injector
- Fuel Filter
- Air Filter
- Brake Pads
- Brake Shoes
- Brake Caliper
- Accelerator & Brake Cable
- Electric Starter Motor
- Clutch Plate
- Chain & Sprocket
- Battery
- Headlight Bulb
- Turn Indicator Bulb
- Spark Plugs
- Ignition Coil
- Shock Absorber
- Seat
- Exhaust Muffler
- Mirror
- Tires
Consumables
- Washing Shampoo
- Cleaning Polish
- Coolant
- Engine Oil

By Sales Channel:

Authorized Dealers
Independent Dealers
Online

By Region:

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

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

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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Neonatal Phototherapy Devices Market Surging Towards US$ 142.13 Million by 2032

The neonatal phototherapy devices market is likely to secure a CAGR of 3.7% through 2032. The neonatal phototherapy devices market size is projected to cross US$ 142.13 Million by 2032. The neonatal phototherapy devices market is likely to record a value of US$ 98.83 Million in 2022.

Neonatal jaundice is a major concern amongst new-borns and is a common cause of morbidity in the crucial first few months of life. Approx. 80% of preterm new-borns can suffer from neonatal jaundice making its effective treatment a critical health issue. Future Market Insights has conducted an exhaustive study on the neonatal phototherapy devices market in its upcoming report titled ‘Neonatal Phototherapy Devices Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 to 2027. The neonatal phototherapy devices market is anticipated to witness a CAGR of 5.3% for the period 2017-2027 and grow to more than US$ 140 million by then.

Product Type – Traditional Phototherapy Commonly Preferred by Hospitals

Traditional phototherapy devices are the most commonly used product type in the neonatal phototherapy devices market on account of their relative affordability – especially relevant in emerging economies. Traditional phototherapy devices have an improved lifespan and can easily be attached to an incubator. The National Institute of Health found that almost 15 million babies are born premature around the world with significantly increasing figures over the past few decades. This is the surest sign that the need for foetal, neonatal, and prenatal care equipment will skyrocket in the future, benefiting the neonatal phototherapy devices market.

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The development of advanced technologies in North America and Western Europe should propel the neonatal phototherapy devices market with a strong demand for products such as LED phototherapy units. Traditional phototherapy devices are primarily used by hospitals as they are easy to install, simple to use, and durable. Furthermore, the height of the phototherapy lamp can be easily adjusted. A number of non-profit organisations and large players in the neonatal phototherapy devices market are collaborating on the development of cost-effective phototherapy units that can treat neonatal jaundice at the minimal cost in emerging economies.

Product Type – Phototherapy Beds Better Suited to Home Care Settings

The phototherapy bed market is predicted to record a CAGR of 5.6% over the forecast period. Phototherapy beds are lightweight and portable and help maintain the vital bond between mothers and their babies. Phototherapy beds are efficient, low-cost, simple to use, and perfect in either home care or nursery ward settings.

Product Type – Flexible Phototherapy Devices Offer the Best of Both Worlds

Flexible phototherapy devices, as their name suggests, mould their shape according to that of the baby and are available in a range of sizes in the neonatal phototherapy devices market. Flexible phototherapy devices offer an extremely soothing healing environment for a new-born baby without hampering the benefits of Kangaroo Care (Mother – child bonding). The flexible phototherapy lamps market is projected to cross a value of US$ 11 million in 2017 alone.

Region – APAC to Grab Maximum Attention in the Neonatal Phototherapy Devices Market

Emerging markets i.e. APAC, Latin America, and the MEA region account for the lion’s share of the global population and have half the neonatal phototherapy devices market to themselves. The APAC region spearheaded by China and India is making significant effort in trying to leverage the existing opportunities in the neonatal phototherapy devices market. Key stakeholders in the neonatal phototherapy devices market are focusing their energy on these regions because of the high birth rate and rising prevalence of diseases that thereby drives the APAC neonatal phototherapy devices market.

Competition Dashboard in the Neonatal Phototherapy Devices Market

The companies profiled by Future Market Insights in the neonatal phototherapy devices market report include

Natus Medical Incorporated
General Electric Company
Ibis Medical Equipment and Systems
Atom Medical Corporation
Medela AG
D-Rev
Phoenix Medical Systems
Zhengzhou Dison Instrument And Meter
Fanem
Drägerwerk AG & Co.
Novos Medical Systems
Weyer GmbH
BabyBloom Healthcare BV
Medical Technology Transfer and Services Asia
Koninklijke Philips N.V.
Medical Technology Transfer and Services Asia.

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Important Insights on the Neonatal Phototherapy Devices Market

Governments in several countries have begun programs that provide more facilities for new-born and childcare along with promotions through conferences and exhibitions. For e.g. – In African nations, communities have initiated programmes that have new-born health and safety as their primary objective.

Neonatal Phototherapy Devices Market Taxonomy Region

North America
US
Latin America
Europe
Germany
Asia
China
India
Australia
Middle East and Africa
South Africa

Product Type

Traditional Phototherapy Lamps
- Hospitals
- Home care Settings
Phototherapy Beds
- Hospitals
- Home care Settings
Flexible Phototherapy Lamps
- Hospitals
- Home care Settings

Author By:

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

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

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

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Remote Solutions: Automotive Diagnostic Market Anticipated to Reach US$ 108,163.40 Million by 2034

The automotive remote diagnostic market is poised for remarkable growth, with an anticipated valuation of US$ 108,163.40 million by 2034 and an impressive Compound Annual Growth Rate (CAGR) of 17.40% until 2034. In 2024, the market size is already valued at US$ 21,747.60 million.

Several key aspects are covered in the Automotive Remote Diagnostic Market Report, including adjacent studies on related markets such as Vehicle Diagnostics, Remote Diagnostic Devices, Remote Diagnostics, and Automotive On-board Diagnostics. Furthermore, the report provides detailed analyses of the consumption patterns in the Commercial Remote Diagnostics Market, as well as the demand dynamics in the Europe Vehicle Remote Diagnostic Market and the sales trends in the North America Automotive Remote Diagnostics Market. This comprehensive coverage offers valuable insights into the current state and future prospects of the automotive remote diagnostic industry, highlighting opportunities for market players and stakeholders to capitalize on emerging trends and developments.

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Market Drivers:

Vehicle Connectivity: Growth in connected car technologies enables remote access to vehicle diagnostics data, facilitating proactive maintenance.

Efficiency and Cost Savings: Remote diagnostic solutions streamline vehicle diagnostics processes, reducing manual intervention and optimizing service scheduling.

Customer Expectations: Increasing customer expectations for personalized services drive demand for remote diagnostic solutions.

Regulatory Compliance: Compliance with emissions standards and vehicle safety regulations drives the need for advanced diagnostics capabilities.

Key players operating in the automotive remote diagnostics market include Robert Bosch GmbH, Tech Mahindra Limited, Continental AG, OnStar LLC, Vector Informatik GmbH, Transics, Verizon, ACTIA Group, Softing AG, Magneti Marelli S.p.A., IBM, and Harman International, among others.

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The global automotive remote diagnostics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.

By Product Type

Equipment
Software

By Vehicle Type

Passenger Cars
Compact
Mid-Sized
Luxury
SUVS
Light Commercial Vehicles (LCVs)
Heavy Commercial Vehicles (HCVs)

By Application

Vehicle System & Component Access
Vehicle Health Tracking & Diagnosis
Service Assistance

By Region

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

Author

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Fire Truck Market Poised to Reach US$ 8,549.6 Million by 2033

The Fire Truck Market is estimated to be valued at around US$ 5,945.1 million in 2023, with projections indicating a steady growth trajectory at a Compound Annual Growth Rate (CAGR) of 3.7% through 2033. By 2033, the market is anticipated to reach a valuation of US$ 8,549.6 million. Several factors contribute to the growth and evolution of this market.

One significant driver is the increasing number of fire incidents, accidents in manufacturing industries, and disasters, which necessitate the adoption of emergency response trucks for firefighting and rescue operations. As the frequency and severity of such incidents continue to rise, there is a growing demand for advanced fire trucks equipped with modern technologies to effectively address emergency situations.

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To meet the expanding demands of firefighting and rescue operations, fire departments are enhancing their fire truck lineup, investing in vehicles that offer improved performance, enhanced safety features, and greater operational efficiency. This trend underscores the importance of continuous innovation and modernization in the fire truck industry to better serve communities and ensure public safety.

Moreover, there is a growing industry trend towards integrating current technologies such as telematics and artificial intelligence (AI) in fire vehicles. These technological advancements enable real-time monitoring, data analysis, and decision-making capabilities, enhancing the effectiveness and efficiency of firefighting and rescue operations. By leveraging these advanced technologies, fire departments can improve response times, optimize resource allocation, and mitigate risks more effectively.

In summary, the Fire Truck Market is experiencing steady growth driven by the increasing demand for emergency response vehicles, the evolution of fire department capabilities, and the integration of modern technologies. As the industry continues to innovate and adapt to evolving challenges, the market is poised for further expansion and development in the coming years.

Competitive Landscape for the Fire Truck Market

Considering there are so many well-established suppliers and manufacturers, the worldwide market is quite competitive for emergency response trucks. New industry participants are imitating leading players like Rosenbauer and Oshkosh, who have strengthened their worldwide positions via advanced product developments and strategic collaborations.

Key Players

Rosenbauer International AG
Oshkosh Corporation
Magirus GmbH
Spartan Motors
Morita Group
REV Group
Naffco
Ziegler Group
Danko Emergency Equipment Co.
Zoomlion

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Key segments

By Product:

Tankers
Pumpers
Aerial Platform
Rescue Fire Trucks
Other Specialty Trucks

By End-use Sector:

Residential & Commercial Buildings
Enterprises & Airports
Military
Other End Uses

By Region:

North America Market
Latin America Market
Europe Market
China Market
APEC Market
ROW Market

Author

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 5000 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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Tarpaulin Sheets Market to Exceed US$ 13.0 Billion by 2033 Amid Rising Demand from Agriculture and Building and Construction Industries

According to Future Market Insights’ latest report, the global tarpaulin sheets market is projected to reach a massive valuation of US$ 13.0 billion in 2033, with overall sales exhibiting a CAGR of 4.7% throughout the assessment period. In 2023, the overall market size is estimated to touch a valuation of US$ 8.1 billion.

Increasing demand for tarpaulin sheets across building & construction, logistics, agriculture, and several other industries is driving the global market forward. Similarly, growing popularity of tarpaulin sheets due to their excellent protection and safeguarding in all weather conditions is expected to boost sales over the next ten years.

Tarpaulin sheets possess outstanding properties such as good tensile strength and durability that aids in protecting a wide range of goods from harsh weather conditions. Hence, they are being increasingly used across such as agriculture, logistics, building & construction, consumer goods, and others.

Tarpaulin sheet are also cost-effective and lightweight, which make them highly popular across the world. They serve their use in a variety of applications including transportation of products where they are mainly used in protecting and covering cargo.

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In agriculture sector, tarpaulin sheets provide excellent protection for crops or produce from rains and sunlight. Tarpaulin sheets are also used to form pond liners to collect and reserve the water.

Besides this, considering the trend of sustainability in packaging, leading tarpaulin sheet manufacturers have started producing recyclable tarpaulin sheets to cope with rising environmental concerns and stringent regulations.

Currently, demand remains high for hoarding tarps in the market due to their multiple uses. However, sales of insulated tarps are expected to uplift market for the tarpaulin sheets owing to their excellent temperature-controlling properties.

Manufacturers are focusing on developing recyclable tarpaulin sheets to reduce environmental pollution. This will facilitate market expansion during the projection period.

Key Takeaways from Tarpaulin Sheets Market

By product type, the hoarding tarps segment is expected to hold around 1/3^rd value share in the global market during the assessment period.
Based on material, polyethylene (PE) segment is estimated to outbid other segments while the PVC segment is estimated to increase at a prominent CAGR of 5% between 2023 and 2033.
Based on product weight, 100 to 300 GSM segment is anticipated to offer an incremental opportunity of US$ 1,114.6 Mn during the forecast period.
In terms of end use, agriculture segment is forecast to hold a maximum share of the global tarpaulin sheets market during the assessment period.
With booming agriculture and automotive industries, China is likely to hold a significant share of 2% in the global tarpaulin sheets market by 2033.
Tarpaulin sheets demand in India is poised to rise at5% CAGR between 2023 and 2033.
The USA is forecast to hold about 6% share of the global tarpaulin sheets industry in 2023.

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“Ease of handling and convenience of tarpaulin sheets are expected to boost the global market during the forecast period. Besides this, development and popularity of sustainable tarpaulin sheets will boost sales through 2033,” says a lead FMI analyst.

Development of Sustainable Tarpaulin Sheets to Create Lucrative Opportunities for Manufacturers

Leading tarpaulin sheet manufacturers are not only developing superior quality products but also creating an excellent brand image to lure consumers with low price sensitivity, high brand loyalty, and strong purchasing power.

Several companies are also concentrating on manufacturing eco-friendly products to reduce environmental impact. This will eventually help them to increase sales over the next ten years.

Who is Winning?

Key players operating in the tarpaulin sheets market are KSA Polymer, Marson Industries Pty Ltd, Fulin Plastic Industry Co., Ltd., Rhino UK, C&H Vina Co., Ltd., K-Tarp Vina Co., Ltd., Puyoung Industrial Corporation, Ltd, Bag Poly International Pvt. Ltd, Qingdao SG Global Packaging Co., Ltd, Telford Tarpaulins, Darling Downs Tarpaulins, J Clemishaw Ltd., Del Tarpaulins Ltd., Canadian Tarpaulin Manufacturers Ltd., and Cunningham Covers.

These tarpaulin sheet manufacturers are constantly upgrading their product portfolios by launching new tarpaulin sheets with multiple functions. Beside this, they are investing in research and development activities and adopting merger & acquisition strategy to gain an upper hand in the market.

Tarpaulin Sheets Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global tarpaulin sheets market, analyzing historical demand from 2015 to 2022 and forecast statistics for 2023 to 2033. The study reveals growth projections on the tarpaulin sheets market based on material (PE, PVC, PET, PA and Canvas), product type (insulated tarps, hoarding tarps, truck tarps, UV protected tarps, sports tarps, mesh tarps, and others)), product weight (less than 100 GSM, 100 to 300 GSM, 301 to 600 GSM, and above 600 GSM), lamination type (Up to 2 layers, 3 layers, 4 layers, and above 4 layers), and end use (agriculture, building & construction, automobiles, storage, warehousing & logistics, consumer goods, and others) across seven regions of the globe.

About the Packaging Division at Future Market Insights

The Packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competition landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

Tarpaulin Sheets Market by Category

By Product Type:

Insulated Tarps
Hoarding Tarps
Truck Tarps
UV Protected Tarps
Sports Tarps
Mesh Tarps
Others

By Material:

Polyethylene (PE)
Poly Vinyl Chloride (PVC)
Poly Ethylene Terephthalate (PET)
Polyamide (PA)
Canvas

By Product Weight:

Less than 100 GSM
Between 100 to 300 GSM
Between 300 to 600 GSM
Above 600 GSM

By Lamination Type:

Up to 2 Layers
3 Layers Laminate
4 Layers Laminate
Above 4 Layers

By End Use:

Agriculture
Building & Construction
Automobiles
Storage, Warehousing & Logistics
Consumer Goods
Others

By Region:

North America
Latin America
East Asia
South Asia & Pacific
Western Europe
Eastern Europe
Central Asia
Russia & Belarus
Balkan Countries
Baltic Countries
Middle East and Africa (MEA)

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Allergy Diagnostics Market Positioned for Soaring Growth, Aiming for US$ 11.8 Billion by 2033

Medical doctor doing allergy tests in laboratory

FMI projects that between 2023 and 2033, the worldwide allergy diagnostics market size will expand at a 7.7% compound annual growth rate. Currently, the two nations with the biggest markets for allergy diagnostics are the US and Canada. Over the duration of the evaluation period, growth was sustained by increased consumer healthcare spending, developed infrastructure availability, and allergies to foods and pharmaceuticals.

The Allergy Diagnostics Market is on an upward trajectory, showing a promising outlook for the future. With a focus on precision and advancements in diagnostic technologies, the market is poised to witness substantial growth. The increasing prevalence of allergies and the growing awareness regarding early and accurate diagnosis contribute to the market’s positive momentum. Ongoing research and development efforts in allergy diagnostics are likely to introduce innovative solutions, further enhancing the market’s potential.

According to the report, growing incidence of drug allergies especially from penicillin and morphine has fueled the demand for allergy diagnostics across the globe.

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The report also states that increasing air pollution and lack of awareness regarding food and drug allergy in emerging and poor countries are encouraging market players towards developing cost effective allergy diagnostics kits. According to a report published by the World Health Organization, globally around 262 million people are impacted by asthma out of which 461,000 die from asthma.

Rising demand for effective treatment and addressing causes of asthma will aid the overall expansion of the allergy diagnostics market. Allergy diagnostics market experienced sluggish growth during the COVID-19 pandemic. This is because the pandemic led to suspension of immunological care and diverted the healthcare professional towards treating COVID patients.

In case of patients with severe asthma or other allergic reaction, virtual care and limited visiting methods were employed to restrict the human contact and stop the virus transmission.

Introduction of cost effective at-home food sensitivity and allergy diagnostic will boost the market growth in upcoming years. Such applications will reduce the burden on hospital and laboratories culminating to reduced allergy diagnostic and medical cost. In the future, the market is anticipated to grow significantly, as majority of diagnostic laboratories and hospitals are inclining towards automated allergy diagnostics for its high effectiveness. Canada and U.S are likely to yield highly opportunistic prospects, contributing towards the overall expansion of the market.

“Surge in food allergies cases along with increasing incidence of asthma in children will catapult the demand of allergy diagnostics during the forecast period,” says the FMI analyst.

Competitive Landscape

Allergy diagnostics market is highly competitive market owing to presence of global market players. Market players are employing multiple marketing techniques to expand their global outreach.

Allergy diagnostics market players are focusing towards employing organic and inorganic strategies to expand their global foothold.

Inorganic strategies include strategic merger and acquisition and forming an alliance with regional distributors to strengthen their supply chain channels.

They are also emphasizing towards faster product approvals, product development and patenting.

Prominent players operating in the allergy diagnostics market are:

Hitachi Chemical Co. Ltd
Thermo Fisher Scientific Inc.
Siemens Healthineers
Danaher Corporation
HOB Biotech Group Co
bioMérieux
Hycor Biomedical Inc.
Stallergenes Greer
R-Biopharm AG
Lincoln Diagnostics Inc.

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Key Takeaways from FMI’s Allergy Diagnostics Market Study

The U.S is expected to dominate allergy diagnostics market on the back of rising incidence of skin allergies especially eczema and skin inflammation along with high rate of allergic rhinitis (hay fever) in black American population.
Presence of advance healthcare infrastructure, favorable government and insurance policies, and increased per capita income are key allergy diagnostics market drivers in Canada.
The U.K. will offer lucrative opportunities owing to increasing awareness regarding asthma and other allergic reactions like atopic eczema and hay fever. High prevalence of allergies will fuel the demand of allergy diagnostics in the country.
Increasing per capita income and increasing government and private funding towards spreading asthma awareness will boost the allergy diagnostics market sales in China.
India has low per capita income and presence of sub-par healthcare system. High prevalence of myths and stigmatic beliefs regarding asthma is one of the main factors limiting the market growth.

Author By:

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

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

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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High Barrier Packaging Films for Pharmaceuticals Market to Reach US$ 812.5 Million by 2033 | FMI

The global high barrier packaging films for pharmaceuticals market is forecast to expand at 5.3% CAGR over the estimated time-period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 484.8 million in 2023.

The industry is inundated with the demand for multi-layered packaging films. High barrier packaging films contain multiple layers that restrict any adverse response caused by UV light and mineral oil. This packaging also creates a barrier between the contents of the packaging and external factors like moisture, oxygen, and other gases such as carbon dioxide. Since high barrier films are solvent-free and do not react with pharmaceutical packaged goods, they are observing high demand in pharmaceuticals.

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High barrier packaging films have umpteen factors supporting their widespread use in the pharmaceutical industry. Some of these factors include cost-effectiveness, isolation from the outside environment, ease of handling, and a high level of protection. These films help regulate the temperature inside the packaging, thus contributing to its market expansion.

The films also help prolong the shelf life of a product by protecting it from light, moisture, biological contamination, and gases. Packaging manufacturers are shifting their focus to biodegradable innovative packaging solutions, which is expected to initiate the development of improved versions of additives and plastic films. Growing demand for customer-friendly packaging is also projected to have a positive impact on the high barrier packaging films for the pharmaceuticals industry.

Top Highlights from the FMI’s Analysis of High Barrier Packaging Films for the Pharmaceuticals Industry:

The North America market attained a market share of 32.1% in 2022.
The United States showcased a prominent market share of 29.1% in the year 2022.
Europe is expected to trail behind North America. The European region is projected to grasp a market share of 29.6%.
The German market is expected to experience a market share of 6.5% in 2022.
The United Kingdom market is expected to expand at a CAGR of 5.6%.
Within Asia Pacific, India, and China are projected to attain a CAGR of 7.1% and 6.8%, respectively, in the forecast period.
On the basis of product type, coextruded films accounted for 80.7% in 2022.
Based on application, blisters garnered a market share of 65.8% in 2022.

Key Companies Profiled:

Amcor plc
Bemis Company, Inc.
Sealed Air
KUREHA CORPORATION
FLAIR Flexible packaging Corporation
WINPAK Ltd.
MULTIVAC
DuPont, BERNHARDT Packaging & Process
Sonoco Products Company
Sigma Plastics Group
Perlen Packaging
OLIVER
Berry Global Inc.
Toray Plastics, Inc.
Schur Flexibles Holding GesmbH
ACG
Shrinath Rotopack Pvt. Ltd.

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Stay Updated with Recent Developments in the High Barrier Packaging Films for Pharmaceuticals Market

Raven Industries Inc., in August 2020, launched the BioFlex I-series, which is a new product in its plastic film line. The latex-free film is utilized in personal defense equipment (PPE). This innovation is utilized in laboratories and hospitals to avoid hospital acquired infections (HAIs). It goes without saying that the product complements the company’s product line.
In September 2021, Flex Films introduced ultra-high barrier film made of metallic polyester ‘F-UHB-M’ for the substitution of AI foil. This recyclable film is made of high-value proposition. The film has economic benefits, metal bond performance, and sustainability quotient.

Key Segments Covered in High Barrier Packaging Films for Pharmaceuticals Industry Research

High Barrier Packaging Films for Pharmaceuticals Market by Product:

Cold-Formable Films
Coextruded Films
Thermo-Formable Films

High Barrier Packaging Films for Pharmaceuticals Market by Material:

Aluminium
Plastics

High Barrier Packaging Films for Pharmaceuticals Market by Adhesion:

Bags and Pouches
Blisters

High Barrier Packaging Films for Pharmaceuticals Market by Region:

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

About Future Market Insights (FMI)

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

Rig and Oilfield Mats Market Analysis: Industry Rising to USD 2.94 billion by 2034

The global rig and oilfield mats market is predicted to reach a valuation of USD 2.94 Bn by 2034, with sales growing at a healthy CAGR of 5.1% from 2024 to 2034. Valued at US$ 1 Bn in 2021, the target market will likely reach an estimated USD 1.79 billion in 2024. Escalation in crude oil prices and increasing activities in the oil and gas industry across the globe will spur the demand for rig and oilfield mats during the forecast period.

Rig and oilfield mats are essential components in the oil and gas industry, providing critical support and stability for heavy equipment, vehicles, and infrastructure in challenging terrain and environments.

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Growth Factors

As the oil and gas industry expands into remote and challenging environments for exploration, drilling, and production activities, the need for reliable matting solutions becomes increasingly critical. Key players in the industry are securing contracts for operations in remote sites, many of which are characterized by wet and humid conditions, making traditional operations impractical.

Composite mats have emerged as preferred solutions in regions like Western Europe and the USA, driven by factors such as the decline in timber quality. Manufacturers of wooden mats are transitioning to composite or engineered alternatives to meet the evolving demands of these regions.

The adoption of composite mats is fueled by their superior durability, resistance to environmental factors, and versatility in various terrain conditions. These mats provide essential ground protection, stability for heavy equipment, and safe access to remote sites, ensuring efficient and sustainable operations in challenging environments.

Recent Developments

In a recent development, Signature Systems Inc. unveiled its latest innovation, OmniDeck LD, aimed at revolutionizing temporary flooring solutions. Engineered with built-in safety features, this product prioritizes the protection of both personnel and equipment during deployment. Its innovative connection design facilitates swift assembly, ensuring rapid deployment without compromising on safety or performance. Additionally, OmniDeck LD is specifically designed to safeguard grass or other sensitive surfaces from pressure points, minimizing environmental impact.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets.

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Nandini Singh Sawlani

On the Rise: Compact Wheel Loaders Market Poised to Reach US$ 6,322.1 Million by 2033

The compact wheel loaders market is poised for substantial growth, with a projected valuation of US$ 3,866.7 million in 2023 and an anticipated expansion at a Compound Annual Growth Rate (CAGR) of 5.04% from 2023 to 2033. By the end of 2033, the market is predicted to reach a valuation of US$ 6,322.1 million. This growth is attributed to several key factors.

One significant factor driving market growth is the growing preference toward electric construction equipment, coupled with the introduction of advanced electric compact wheel loaders. As industries increasingly prioritize sustainability and emission reduction, the demand for electric-powered equipment, including compact wheel loaders, is expected to surge, contributing to market expansion.

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Additionally, the overall demand for compact wheel loaders in the global market is anticipated to exceed US$ 6,644 billion, expanding at a CAGR of 3.3% during the forecast period from 2022 to 2029. This underscores the significant opportunities and increasing adoption of compact wheel loaders across various industries.

Regionally, Europe is expected to emerge as the leading market, accounting for nearly 43.7% of the global demand share in 2022. The region’s robust demand for compact wheel loaders can be attributed to factors such as infrastructure development projects, construction activities, and technological advancements in the automotive industry.

Furthermore, sales of compact wheel loaders are projected to account for more than 16% of the revenue share in the global automotive pumps market between 2023 and 2029. This highlights the significant contribution of compact wheel loaders to the overall automotive equipment market and underscores their importance in various industrial applications worldwide.

Competitive Scenario:

Leading manufacturers in the global compact wheel loader market are aiming at launches of advanced automotive types of machinery to enhance their product portfolio and gain a competitive edge. Besides this, some of the companies are focusing on entering into strategic collaboration, merger, and acquisition with other players to expand their market share.

Leading players operating in the global Compact Wheel Loader Market are-

Komatsu Ltd., Caterpillar Inc.
Wacker Neuson Group
Deere & Company
KUBOTA Corporation
CNH Industrial N.V.
Xuzhou Construction Machinery Group Co. Ltd.
Hitachi Construction Machinery Co. Ltd.
Volvo Construction Equipment
Yanmar Holding Co. Ltd.
Doosan Corporation

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Compact Wheel Loader Market Segmentation

By Product:

Compact Track Loaders
Skid Steer Loaders
Backhoe Loaders
Wheeled Loaders

By Application:

Construction
Agriculture & Forestry
Industrial
Utilities

By Region:

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

Author

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 5000 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

Medication Pouch Inspection Systems Market is Projected Growth at a CAGR of 7.6% by 2033 | FMI

The global market for medication pouch inspection systems size is expected to be valued at US$ 39.8 million in 2023. Outsourcing of pharmaceutical manufacturing, bolsters the overall scope for the medication pouch inspection systems market, which is projected to grow at a CAGR of 7.6% between 2023 and 2033, totaling around US$ 82.8 million by 2033. This growth trajectory underscores the increasing reliance on advanced technology and automation in pharmaceutical manufacturing processes to adhere to strict regulatory standards and ensure product integrity.

Harnessing the power of Artificial Intelligence (AI) and Machine Learning (ML), medication pouch inspection systems efficiently assess various visual attributes of medication pouches, including color, shape, size, and text information. These advanced algorithms then compare the collected data against established standards, swiftly identifying any deviations or irregularities that may signal packaging defects, incorrect medication, or missing doses.

India holds substantial promise for medication pouch inspection system manufacturers. The nation’s vast population and growing healthcare infrastructure position it as a crucial market in the Asian region. The demand for medication pouch inspection systems in India is on an upward trajectory, driven by the expanding healthcare sector and a rising need for medical supplies and equipment.

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The Indian government is actively supporting local manufacturers by offering subsidies and promoting the adoption of advanced technologies to boost production capabilities. This supportive environment is expected to foster increased demand for medication pouch inspection systems in India as the industry evolves in the years ahead.

Furthermore, the allure of India as an opportune market is amplified by its low cost of manufacturing and the burgeoning demand for medical supplies. The country is poised to maintain a healthy Compound Annual Growth Rate (CAGR) of 7.5% over the analysis period, making it an enticing destination for medication pouch inspection system suppliers and distributors seeking growth and opportunities.

Business Growth Drivers:

Increasing Demand for Medication Pouches : The rising prevalence of chronic diseases and the aging population have led to a surge in the demand for medication pouches, as they offer convenience and accuracy in medication management.
Stringent Regulatory Standards : Regulatory bodies such as the FDA (Food and Drug Administration) continually emphasize the importance of medication safety and quality control, driving the adoption of inspection systems to ensure compliance.
Advancements in Technology : Technological innovations such as machine vision, artificial intelligence, and automation have enhanced the capabilities of medication pouch inspection systems, making them more efficient and reliable.
Focus on Patient Safety : Healthcare providers are increasingly prioritizing patient safety and medication adherence, which is fueling the adoption of inspection systems to detect errors and ensure the correct dispensing of medications.
Rising Healthcare Expenditure : Growth in healthcare expenditure globally, particularly in developed economies, has resulted in increased investments in pharmaceutical manufacturing infrastructure, including inspection systems.
Expansion of Pharmaceutical Industry : The expansion of the pharmaceutical industry, especially in emerging markets, is driving the need for advanced inspection technologies to maintain product quality and meet regulatory standards.
Growing Awareness about Medication Errors : Healthcare professionals and consumers are becoming more aware of the risks associated with medication errors, leading to greater demand for solutions that can help prevent such errors.

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The Major Key Players Are:

JVM Co. Ltd.
TCGRx
Arxium Inc.
ZiuZ Holding B.V.
Parata Systems Inc. (Merged with TCGRx)
Global Factories B.V.
Precia S.A.
Loma Systems
ESPERA-WERKE GmbH
Ossid LLC

Recent Developments

In May 2022, ARxIUM, a leader in pharmacy automation solutions, expanded its medication pouch inspection capabilities. The company introduced new software features and algorithms that enhance the detection of seal defects, incorrect medication, and missing doses. The system offers real-time monitoring and customizable inspection parameters to meet specific customer requirements.
In February 2022, Körber launched the Mediseal P1400 Pouch Inspector. The system offers comprehensive inspection of medication pouches, including seal integrity, label verification, and barcode scanning. It incorporates advanced vision technology and customizable inspection settings for different pouch sizes and materials.
In November 2021, Omnicell announced enhancements to its medication pouch inspection capabilities. The upgrades include improved image analysis algorithms, increased inspection speed, allowing for faster, and more accurate detection of pouch seal defects and medication errors.

Market Segmentations-

The global medication pouch inspection systems market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.

By Machine Type

Automatic
Table Top

By Maximum Operating Speed

Up to 50 ppm
50-75 ppm
Above 75 ppm

By End User

Retail Pharmacy
Hospital Pharmacy
Long-Term Care Pharmacy
Mail Order Pharmacy

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