Market Research Blog – Page 3550 – New Product Development

Automotive Bioplastics Set to Surge 10.7% CAGR by 2033, Driven by Innovation and Sustainability

The global automotive bioplastics market value is likely to jump from US$ 761.06 million in 2023 to US$ 2,103.28 million by 2033. This estimated growth is expected to be driven by a CAGR of 10.7% in the global automotive bioplastics market over the next decade.

Industries like automotive and transport are increasingly using bioplastics to develop automotive parts, thus fueling the market growth. To add to the surging momentum, the market is observing the emergence of new feedstocks like biowaste, algae, and CO2 taken from the atmosphere. This is expected to drive innovations in the product composition and its capabilities.

The market for automotive bioplastics is further driven by new research studies investigating new bioplastics potentialities. Recent research and development efforts by the Institute for Bioplastics and Biocomposites’ (IfBB) researchers at Hannover University of Applied Sciences is a good case. The researchers at the university are developing bioplastics that can endure stresses and high temperatures in the automotive industry.

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The project aims to prove that bio-based formulations can be high-performing plastics. The German Federal Ministry of Food and Agriculture backs it. In the run-up to the project, it is reported that bio-based composites are compatible with challenging high-temperature applications with apt refinement and processing.

Key players are collaborating to create new possibilities for brand owners and plastic producers to consider biopolymers as a low-carbon footprint substitute for fossil-based plastics for durable as well as durable applications. The automotive industry is expected to benefit from such improved grades of bioplastics.

The market still needs to be challenged by conventional plastics due to the latter’s reliable feedstock supplies, improved functionalities and subsequent processing, and enhanced economies of scale.

“Increasing interest in bioplastics by automotive manufacturers as they pledge to turn to sustainable processes is expected to favor the uptake of automotive bioplastics in the upcoming years. However, market participants should consider improving the product characteristics, technological processes, feedstock availability, and profit margins to have the upper hand in the market competition,” says an FMI analyst.

Key Takeaways from the Automotive Bioplastics Market Report:

In 2022, the automotive bioplastics market accounted for US$ 687.5 million.
Europe is anticipated to be a prominent market for automotive bioplastics in the upcoming period.
Australia is emerging as a budding market for automotive bioplastics.
The electric cars segment is projected to have a significant market in the upcoming years.
Bio-based polyamide material is a highly preferred automotive bioplastic.

Key Developments Taking Place in the Automotive Bioplastics Market

In March 2020, Floreon and Clariant reported about their collaboration to extend its high-performance biopolymer applications to more markets. This development is expected to meet the demanding material requirements and further the potential applications of biopolymers.
Mitsubishi Chemicals created a plant-based bioengineering plastic DURABIO, which obtained two bio-based product certifications in December 2022.
In October 2022, Braskem invested US$ 60 million to extend its capacity of a sugarcane-based bioplastics brand called ‘I’M GREEN’ by up to 30%.
Anellotech reported in August 2022 that it continuously processes its solid plastic waste into olefins utilizing its Plas-TCat catalytic pyrosis technology.

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Key Players in the Automotive Bioplastic Market Include

Mitsubishi Chemical Corporation AS
Total Corbion PLA
Teijin Group (1/3)
NatureWorks LLC
Denso Corporation
Solvay Group
Toray Industries Inc.
Evonik Industries AG
Arkema Group
Braskem
Novamount S.P.A.
RTP Company
BASF SE
Dow Chemical Company
Eastman Chemical Company

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

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Biocides Market to Reach US$ 12.5 Billion by 2033, Driven by Growing Applications in Pharma, Food & FMCG

The biocides market is poised for steady growth, with an expected average CAGR of 3.4% from 2023 to 2033. Starting at a revenue of US$ 8.9 billion in 2023, it is projected to exceed US$ 12.5 billion by 2033. This anticipated expansion reflects the increasing demand for biocides across various industries such as healthcare, agriculture, and water treatment, driven by factors like rising awareness of hygiene and stringent regulations concerning microbial control.

A wider range of applications as a preservative and germ-controlling agent is propelling the growth of the biocides market. Furthermore, advanced pharmaceutical companies are implementing biocides to shelf their medicines for longer usage.

In expanding packaged food industry, look for an affordable preservation option provided through biocides. Restoration of the FMCG sector has also ended up thriving the growth of the biocides market.

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Emerging economies such as India and China are building their medical and pharmaceutical industry. Even India has been recognized as the “pharmacy of the world” as it fuels the manufacturing and production of drugs, flourishing the sales of biocides solutions.

The use of phenolics biocides in different surgical procedures has also been highlighted recently and is likely to thrive the demand for biocides.

Its use in botanical experiments to eliminate microorganisms and plants helps research and development programs. Thus, the future of the biocides market looks promising.

Higher food exports between nations and the restoration of sea trade post-pandemic demand for a sustainable preservation solution. The biocides solution fits right in the picture, preventing the food items from getting exposed to microorganisms.

Key Points

The Chinese market is the biggest and fastest market for preservation technology and is anticipated to cross a value of US$ 3.0 Bn by 2033. The regional market is expected to thrive at an average CAGR of 4.4% between 2023 and 2033.
The US market thrives at the highest CAGR of 2.9% during the forecast period. The market is likely to reach a value of US$ 2.5 Bn by 2033.
The halogen compound segment is expected to thrive in the product category due to its wider application including the water treatment sector and the paint industry. It is expected to thrive at a CAGR of 3.4% during the forecast period.
Industrial grade tops the grade type segments with a CAGR of 3.3% between 2023 and 2033 while it thrived at a lower CAGR of 2.3% during the previous forecast period.

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Competitive Landscape

The focus of key competitors is to deliver application-specific biocide solutions. Furthermore, advanced pharmaceutical companies have extended their research verticals as their in-house biocides production. Key players in the market are: Clariant AG, Lonza Group, ICL Group, BASF SE, DOW, Veolia, Troy Corporation, Nouryon, Kemira Oyj, Ecolab USA Inc, Albemarle Corporation, Solvay SA, Lanxess AG, and Buckman Laboratories International.

For instance:

Clariant AG has introduced its biocides for paints and coatings named as NIPACIDE that protects the paint from microbial contamination. The major biocide products are nipacide BIT 10 W, nipacide BIT 20, and nipacide BK.
Veolia has launched its Hydrex 7000 biocide chemicals for water treatment that eliminated slime, formation of hydrogen sulfide, corrosion and biofueling

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Pharmaceutical Vials Market is Expected to Reach at a US$ 24,099.7 Million by 2033 | FMI

The market for pharmaceutical vials is anticipated to be worth US$ 12137.2 million in 2023 and US$ 15652.4 million in 2033. The United Kingdom, the USA, China, and India are expected to emerge as major producers as the market for pharmaceutical vials expands at a constant 2.6% CAGR.

The constantly growing pharmaceutical business is driving up demand for pharmaceutical vials on a global scale. The demand for pharmaceutical vials is rising, especially in populous countries. Due to increased demand for vials, these countries’ pharmaceutical industries are increasing drug production, which is also expected to hasten market growth.

Glass packaging is largely favoured in the pharmaceutical business due to its ease of heat sterilisation and lack of reaction with the majority of pharmaceuticals and drugs. Medicines can be wrapped in coloured glass to shield them from UV radiation from the sun and other wavelengths. Due to its ability to be recycled and its widespread availability worldwide, glass makes the ideal packaging material for pharmaceutical items.

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Global demand for pharmaceutical vials is expected to rise due to the complexity of medications required to treat expanding diseases, rising demand for parenteral medications like insulin and corticosteroids, and expanding vaccination.

Numerous product developments in the healthcare industry are creating new demand potential for pharmaceutical vials. The primary goal of medical professionals is to ensure that patients receive the correct dosage of medications, which has contributed to the rise in the popularity of pharmaceutical vials. The demand for novel treatments for chronic illnesses in hospitalized patients has benefited producers in the pharmaceutical and biotechnology industries as well. The growth rate of the pharmaceutical vials market is consequently further boosted by favorable opportunities.

The main challenge facing producers of cutting-edge pharmaceutical vial products is the release of chemicals onto the internal surface of glass tubing containers. Another significant factor impeding the market for pharmaceutical vials from expanding is the rising cost of packaging as a whole.

Key Takeaways

The Indian pharmaceutical vials market is expected to rise at a rate of 5.6% through the forecast period.
The stringent regulatory requirements for pharmaceutical packaging, such as those set by the FDA, are driving the demand for high-quality vials that are compliant with regulations.
The plastic segment is holding a market share of 58.9% in 2022.
The trend toward personalized medicine is driving the demand for customized vials that can accommodate specific dosages and delivery requirements.

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Competitive Landscape

The competitive landscape in the pharmaceutical vials market is highly fragmented, with numerous large players operating in the market. The market is dominated by a few key players, such as Gerresheimer, SCHOTT AG, West Pharmaceutical Services, and Berry Global, which account for a significant share of the market. However, there are also many smaller players, including regional and local manufacturers, which compete for market share.

Competition in the market is primarily driven by factors such as price, product quality, innovation, and customer service. In recent years, there has been an increasing focus on product differentiation and innovation as manufacturers seek to develop new products that offer improved safety, functionality, and ease of use.

The market is also characterized by the increasing adoption of sustainable and eco-friendly packaging materials, which is creating new opportunities for manufacturers that can offer these products. In addition, the market is highly regulated, and compliance with regulatory requirements is a key factor in establishing a competitive edge.

Global Pharmaceutical Vials Market: Segmentation Insights

The global pharmaceutical vials market is classified on the basis of product type, material type, capacity size and region.

By product type, self-standing pharmaceutical vials was the largest sub-segment in terms of value at US$ 7,050 Mn by the end of the year 2021 and is expected to exhibit a CAGR of 4.3% during the assessment period 2021-2031.

By material type, plastics was the largest sub-segment in terms of value, and is likely to be valued at nearly US$ 12,000 Mn at the end of the year 2031, with a CAGR of 5.1% during the assessment period.

By capacity size, the 1-10 ml sub-segment is the largest sub-segment in terms of value, at nearly US$ 6,700 Mn by the end of the year 2021 and is likely to exhibit a CAGR of 4.3% during the period of assessment.

By region, North America is expected to lead the global pharmaceutical vials market in terms of revenue, with a valuation of nearly US$ 3,300 Mn at the end of the year 2021. The North America region is projected to exhibit a CAGR of 3.9% during the period of forecast.

Global Pharmaceutical Vials Market: Competitive Landscape

The research report on the global pharmaceutical vials market has an entire section devoted to study the competition landscape of this market in which the key players that are functional in the market are profiled.

This section also has important information about the companies that have been profiled in this report; such as company overview, key financials, geographical reach, SWOT analysis, key strategies, etc. The companies that have been profiled in this research report include West Pharmaceutical Services, Inc., Nipro Europe, O.BERK COMPANY, LLC, Gerreshemier AG, Piramal Glass, Schott AG, Stevanato Group S.p.a, Adelphi Healthcare Packaging, SGD SA and Pacific Vial Manufacturing Inc.

Key Segments Covered in Pharmaceutical Vials Market Study

By Product Type:

Self Standing
Round Bottom

By Material Type:

Glass
Plastic

By Capacity Size:

0-1ml
1-10ml
10-50ml
50-100ml

By Region:

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

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

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Meat Dicing Machine Market Soars: Industry to Rise US$ 660 million by 2033

A meat dicing machine is a specialized piece of equipment used in food processing facilities, butcher shops, and commercial kitchens to cut meat into uniform cubes or strips. These machines are designed to handle various types of meat, including beef, pork, chicken, and lamb, with precision and efficiency.

The meat dicing machine market is expected to witness steady growth, with a moderate CAGR of 3.5% during the forecast period. In 2023, the market is valued at US$ 469 million, with projections to reach US$ 660 million by 2033. Historical data indicates a market valuation of US$ 456 million during the base year, as reported by Future Market Insights.

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Drivers

Rising disposable incomes are driving a notable uptick in spending on protein-rich food items, resulting in heightened demand for meat dicing machines.

Moreover, growing awareness regarding food hygiene standards and the need to replace manual meat-cutting methods are expected to be significant factors fueling the expansion of the market for meat dicing machines.

Key Manufacturers

Apache Stainless Equipment Corporation
Bettcher Industries
Biro Manufacturing Company
Bizerba
Braher
Equipamientos Carnicos
GEA Group
Gee Gee Foods & Packaging
Illinois Tool Works
JBT Corporation
Marel
Metalbud Nowicki

Key Segments

By Machine Type:

Automatic
Semi-automatic
Manual

By End-use:

Commercial
Household

By Meat Type:

Pork
Mutton
Beef

By Region:

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

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Global Seasonal Influenza Vaccines Therapeutics Market is positioned for substantial growth, estimated at US$ 18.3 Billion by 2032

The global seasonal influenza vaccines therapeutics market has shown robust growth in recent years, marking a significant valuation of around US$ 7.2 Billion by the end of 2021. This market, driven by the increasing prevalence of seasonal flu and the continuous evolution of the vaccine landscape, is forecasted to soar at a remarkable Compound Annual Growth Rate (CAGR) of 9.0%.

As per market analysis and projections, the ongoing expansion of the market is poised to witness a staggering upsurge, reaching an estimated value of US$ 18.3 Billion by 2032. This growth trajectory is reflective of the growing emphasis on preventive healthcare and the incessant efforts within the pharmaceutical and biotechnology sectors to innovate and deliver effective vaccine solutions.

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The consistent rise in the incidence of seasonal influenza worldwide has propelled the demand for robust and efficient vaccines. This demand has triggered substantial investments in research and development, leading to the introduction of advanced vaccines designed to combat varying strains of the flu virus.

“The robust expansion of the seasonal influenza vaccines market underscores the imperative need for preventive healthcare measures globally,” stated Future Market Insights. “The market’s upward trajectory is a testament to the commitment of pharmaceutical entities in addressing public health concerns and ensuring the availability of effective therapeutics to combat seasonal flu.”

With a projected 9.0% CAGR, the market is anticipated to witness remarkable advancements and technological innovations in vaccine development. Such advancements are expected to revolutionize the landscape, ensuring enhanced efficacy, broader coverage against various strains, and improved accessibility for populations worldwide.

Key Takeaways: Seasonal Influenza Vaccines Therapeutics Market

The Seasonal Influenza Vaccines Therapeutics Market is a dynamic sector that plays a crucial role in preventing and mitigating the impact of influenza viruses on global public health. Here are the key takeaways that highlight the trends, challenges, and opportunities in this market:

Growing Awareness and Need: The increasing awareness about the importance of influenza vaccination as a preventive measure has led to a growing demand for seasonal influenza vaccines. Governments, healthcare organizations, and pharmaceutical companies are actively promoting vaccination campaigns to curb the spread of the virus.
Fluctuating Market Dynamics: The market experiences periodic fluctuations due to the ever-evolving nature of influenza viruses. Vaccine formulations need to be updated annually to match the prevalent strains, resulting in a cycle of research, development, and distribution.
Research and Development Innovation: Ongoing research and development efforts focus on improving vaccine efficacy, durability, and ease of administration. Advancements in vaccine technologies, such as cell-based, recombinant, and adjuvanted vaccines, are enhancing the options available to healthcare providers and recipients.
Global Pandemic Preparedness: The COVID-19 pandemic has underscored the importance of robust pandemic preparedness, including rapid vaccine development and distribution. Lessons from COVID-19 are likely to influence strategies for tackling future influenza outbreaks more efficiently.
High Economic Impact: Influenza outbreaks lead to substantial economic burdens due to healthcare costs, workplace absenteeism, and reduced productivity. Seasonal influenza vaccines play a significant role in reducing these economic impacts by preventing infections and their associated complications.
Vaccine Hesitancy: Vaccine hesitancy poses a challenge to widespread vaccine adoption. Misinformation, concerns about vaccine safety, and cultural factors contribute to hesitancy. Effective communication and education campaigns are crucial to address these concerns.

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Top Major Players:

CSL Seqirus
Merck
GlaxoSmithKline
Pfizer
Novartis
Sanofi
AstraZeneca
Abbott
SINOVAC
F. Hoffman-La Roche Ltd.

Key Segments Covered in the Medical Robots Industry Survey:

By Vaccine Type:

Quadrivalent
Trivalent

By Age Group:

Paediatric
Adult

By Route of Administration:

Injections
Nasal Spray

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Others

By Region:

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

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About Future Market Insights (FMI)

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

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Specialty Films Market is Set to Surge Expected Growth at 4.9% CAGR by 2026 | FMI

Between 2022 and 2026, there is an anticipated growth trajectory for specialty films sales, projected to climb at a Compound Annual Growth Rate (CAGR) of 4.9%. This surge is primarily attributed to the heightened utilization of barrier films in both food and pharmaceutical packaging sectors, alongside a burgeoning demand for conduction and insulation films. These films play pivotal roles in enhancing product preservation, ensuring safety standards, and meeting regulatory requirements. As industries continue to prioritize sustainable packaging solutions and technological advancements, the market for specialty films is poised to experience steady expansion, offering diverse applications across various sectors.

The surging demand for packaging solutions across diverse industrial sectors has led to a heightened interest in specialty films, showcasing their pivotal role in preserving products throughout the supply chain until they reach the end consumer.

Because specialty films have high strength and stiffness and operate as a protective shield, they are used in a variety of industries. The growing importance of bio-based polymers, as well as the economic growth of the BRIC countries, has been propelling the specialised film industry.

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As businesses recognize the benefits provided by specialty films, such as improved product protection and performance, the market share of these films is expected to continue expanding. Manufacturers are likely to invest in research and development to innovate and introduce new film formulations that cater to the rising demand for specialized films. This may involve creating films with higher heat resistance, improved barrier properties, and increased environmental sustainability.

Additionally, industry participants are expected to collaborate closely and form partnerships to facilitate knowledge sharing and the development of novel solutions. Over the coming years, the specialty films Industry will continue to grow and innovate, adapting to the evolving packaging needs of various sectors.

Market Drivers:

Growing Demand from End-Use Industries: Industries such as packaging, automotive, construction, electronics, and healthcare have a significant demand for specialty films due to their unique properties and functionalities.
Innovations in Film Technologies: Continuous innovations in film manufacturing technologies, including advancements in material science, coating techniques, and barrier properties, are driving the market forward.
Increasing Focus on Sustainable Packaging: With rising environmental concerns, there’s a shift towards sustainable packaging solutions. Specialty films offer opportunities for lightweighting, recyclability, and biodegradability, aligning with this trend.
Rise in Flexible Packaging: Flexible packaging formats, which often utilize specialty films for their barrier properties and aesthetics, are gaining popularity due to consumer convenience and cost-effectiveness, thus driving demand.
Advancements in End-Use Applications: Specialty films find applications in emerging sectors such as photovoltaics, agriculture, and 3D printing, creating new avenues for market growth.
Expanding Electronics Industry: The electronics industry’s continuous expansion, particularly in areas like displays, touchscreens, and printed electronics, is fueling demand for specialty films with properties like high clarity, conductivity, and UV resistance.
Increasing Disposable Income and Urbanization: Rising disposable income levels and urbanization contribute to the demand for packaged goods, driving the need for specialty films in packaging applications.

Market Restraints:

Fluctuating Raw Material Prices: Specialty films often rely on specific raw materials whose prices can be volatile, impacting the production costs and profitability of manufacturers.
Stringent Regulations: Regulatory requirements concerning environmental sustainability, product safety, and recycling standards can pose challenges for specialty film producers, necessitating compliance efforts and potentially increasing operational costs.
Competition from Substitutes: Specialty films face competition from alternative materials or packaging formats, such as paper-based packaging, bio-based polymers, and rigid packaging solutions, which may offer similar functionalities or environmental benefits.
High Initial Investment: Setting up manufacturing facilities for specialty films with advanced technologies requires substantial capital investment, which could act as a barrier to entry for new players and limit market growth.
Limited Awareness and Education: In some regions or industries, there may be limited awareness regarding the benefits and applications of specialty films, hindering market expansion due to a lack of demand.
Supply Chain Disruptions: Disruptions in the supply chain, whether due to natural disasters, geopolitical tensions, or pandemics, can affect the availability of raw materials and logistics, impacting the production and distribution of specialty films.

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Competitive Landscape:

The strictness of industry regulatory authorities towards the usage of polymerized, non-degradable materials is a major barrier in the manufacturing of specialized films. Environmental concerns have grown as the number of specialty films abandoned openly has increased. Furthermore, the single-use nature of these films limits the extent of specialized film recycling and reuse.

Leading specialty film companies include

Bemis Company,
Koninklijke DSM N.V.,
The Mondi Group,
Borealis AG,
Amcor Ltd.,
Sealed Air Inc.,
Selenis Portugal S.A.,
Saudi Arabia Basic Industries Corporation (SABIC),
Bischof + Klein SE & Co., and
3M Company.

Many businesses are expected to increase the production of specialty films with improved chemical resistance. With the growing presence of food and beverage industries in APAC, several prominent players in the global specialty films market are projected to expand their manufacturing capacities by establishing manufacturing plants in China, South Korea, and India

Increasing Number of Manufacturers Drives Competitive Atmosphere, Affecting Sales Growth of Specialty Films

Due to the presence of multiple manufacturers with a solid foothold in the market, the industry is projected to see intense competition. However, changing crude oil and naphtha prices, which are the industry’s key raw materials, are predicted to have an impact on market growth over the forecast period.

Key Segmentations

by Product:

Stretch Films
Shrink Films
Barrier Films
Conductive Films
Safety & Security Films
Anti-fog Films
Other Films

by Material:

Polyethylene (PE) Specialty Films
Polyethylene terephthalate (PET) Specialty Films
Polyamide (PA) Specialty Films
Polypropylene (PP) Specialty Films
Polyvinyl Chloride (PVC) Specialty Films
Polyurethane (PU) Specialty Films
Aluminium Specialty Films
Others (Evoh, Polycarbonate, etc.)

by End Use:

Food & Beverages
Cosmetics & Personal Care
Chemicals
Agriculture
Building & Construction
Pharmaceuticals
Electrical & Electronics
Automobiles
Others

by Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

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Global Cancer Tissue Diagnostics Market is set to reach US$ 13,219 Million by 2033, with healthcare infrastructure growth as a driving force | FMI

The global cancer tissue diagnostics market is expected to reach a market valuation of US$ 7,041 million by 2023, experiencing significant growth, fueled by the rising incidence of cancer and the critical role of accurate diagnosis in guiding effective treatment. According to a recent industry analysis, the market is projected to reach a value of US$ 13,219 million by 2033, representing a CAGR of 6.5% from 2023.

Cancer tissue diagnostics play a vital role in the fight against cancer, providing crucial information for accurate diagnosis, staging, and treatment planning. This market encompasses various technologies and techniques, including immunohistochemistry (IHC), in-situ hybridization (ISH), and digital pathology, which are used to analyze tissue samples for the presence and characteristics of cancer cells.

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Key Drivers of Market Growth:

Rising Cancer Incidence: The global burden of cancer is increasing at an alarming rate, with millions of new cases diagnosed each year. This growing demand for cancer diagnosis is driving the need for advanced and reliable tissue diagnostics solutions.
Importance of Accurate Diagnosis: Early and accurate diagnosis is crucial for successful cancer treatment and improved patient outcomes. Tissue diagnostics offer a highly reliable method for identifying cancer type, stage, and potential treatment options.
Technological Advancements: Advancements in tissue diagnostics technology, such as digital pathology and artificial intelligence (AI)-powered analysis, are improving efficiency, accuracy, and accessibility of diagnostic services.

Market Trends and Opportunities:

Growing adoption of digital pathology: Digital pathology offers several advantages over traditional methods, including remote access, improved collaboration, and AI-powered analysis. This trend is expected to continue driving market growth in the coming years.
Focus on personalized medicine: The growing focus on personalized medicine is creating demand for companion diagnostics that can identify patients who are likely to respond to specific treatments. This trend is expected to fuel the development of new and targeted tissue diagnostics solutions.
Expansion in emerging markets: The rising healthcare expenditure and increasing awareness of cancer in developing countries are creating significant opportunities for the growth of the cancer tissue diagnostics market in these regions.

The Future of Cancer Tissue Diagnostics:

The cancer tissue diagnostics market is poised for continued growth in the coming years, driven by the rising burden of cancer, the increasing importance of accurate diagnosis, and advancements in technology. The development of new and innovative solutions, such as AI-powered analysis and personalized diagnostics, is expected to further propel market growth and improve patient outcomes.

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Top Highlights from the FMI’s Analysis of the Cancer Tissue Diagnostics Market:

North America and Europe are the highly penetrated markets for cancer tissue diagnostics. FMI has estimated that these markets are expected to surpass market values of 38.9% and 30.1%, respectively, in 2023.
The United States and Germany are the key markets with assessed value shares of 32.6% and 4.5%, respectively, in 2022. Globally as well as regionally, these markets top the charts.
China and India are projected to propel at a CAGR of 7.5% and 6.4%, correspondingly. Manufacturers are focusing on emerging economies to generate higher revenues as established markets reach saturation.
Australia is expected to witness a strong CAGR over the forecast period. As per FMI intelligence, the market is projected to shoot at a CAGR of 10.3% from 2023 to 2033, implying a booming economy, robust cancer cases, and surging acceptance of cancer tissue diagnostics.
According to FMI, Japan is anticipated to attain more than 5.2% market share in the forecast period.
Based on test type, in situ hybridization segment acquired a market share of 62.9% in 2022.
Under the end-user category, the hospital-associated labs segment obtained a 44.2% value share in 2022.

Global Cancer Tissue Diagnostics Market Key Players:

Abbott Laboratories
F.Hoffmann-La Roche Ltd.
Thermo Fisher Scientific Inc.
Ventana Medical Systems, Inc.
Bio Rad Laboratories Inc.
Enzo Life Sciences, Inc.
Abcam plc.
BioGenex
Cell Signalling Technology, Inc.
Agilent Technologies, Inc.
PerkinElmer Inc.

Cancer Tissue Diagnostics Market by Segmentation:

By Test Type:

Immunohistochemical (IHC) Test
- Breast Cancer
- Stomach (Gastric) Cancer
- Colorectal Cancer
- Prostate Cancer
- Others
In Situ Hybridization (ISH) Test
- Breast Cancer
- Non-Small Cell Lung Cancer (NSCLC)
- Bladder Cancer
- Others

By Region:

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

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

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Plastic Caps & Closures Market is Projected to Reach at a US$ 76,953.0 Million by 2033 | FMI

The global plastic caps & closures market size is slated to surpass a valuation of US$ 45,913.6 million in 2023. FMI anticipates the market is estimated to attain a valuation of US$ 76,953.0 million by 2033. The market is predicted to showcase a CAGR of 5.3% from 2023 to 2033.

For packing and closing various kinds of bottles, tubes, containers, and jars, plastic caps, and closures provide a reliable and secure packaging option. Thermoplastic and thermoset plastics are the materials used to make plastic caps and closures.

Plastic caps and closures are great for packaging a range of carbonated and non-carbonated beverages as well as industrial items since they are lightweight and recyclable.

The increasing number of millennials in emerging nations and their increasing disposable incomes drive the consumption of carbonated and non-carbonated drinks. Due to shifting inclinations toward healthy lifestyles, the market for plastic caps & closures has experienced notable expansion.

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The demand for plastic caps and closures is expected to increase as consumers turn to convenient packaging options.

The United States is anticipated to be a significant growth region during the forecast period. The rising product innovations, expanding food and beverage industry, and growing demand for bottled water are expected to bolster regional market growth.

Key Takeaways from Plastic Caps & Closures Market:

In 2018, the global plastic caps & closures market size stood at US$ 36,420.4 million.
The market size valued at US$ 43,602.7 million in 2022.
The market expanded at a considerable CAGR of 4.6% from 2018 to 2022.
In 2022, the screw closures segment captured 71.0% market share.
The thermoplastics accounted for nearly 97% of the total plastic caps & closures market in 2022.
In 2022, the beverage segment captured 49.1% market share.
In 2022, the United States accounted for 18.9% market share.

Recent Developments Observed by FMI:

For the Estathè brand of sweet tea soft drinks from Ferrero, Aptar debuted a new practical product packaging in May 2023. To package Estathè, Ferrero used an Aptar Rocket sports hat.
In March 2023, United Caps introduced a brand-new tethered closure for carton packing. The Tamper-Evident (TE) band included in the new 23 H-PAK tethered solution keeps all components whole for quick recycling and is easy to incorporate with existing practices.
Mespack and hoffer introduced spout and cap closure in January 2023. The new closure uses 20% less plastic and is comprised of a monolayer material.
Silgan Plastics, a top provider of eco-friendly rigid packaging solutions, purchased Gateway Plastics in September 2021. Gateway Plastics makes dispensing closures and offers integrated dispensing packaging solutions to the food and beverage industry.
In June 2021, Mala Verschluss-Systeme GmbH was bought by BERICAP, a well-known producer of plastic closures. Manufacturers of aluminum closures include Mala. With the purchase of Mala, BERICAP might expand its product line to include aluminum closures and create cutting-edge closure solutions that combine plastic and aluminum.
Aptar Global, Inc. debuted PolkaLite, a new product category, in January 2022. PolkaLite is a closure that performs better and is convenient since it is light.

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Plastic Caps & Closures Market Segmentation

By Caps Type:

Screw Closures
Snap Closures
Push-Pull Closures
Others

By Material Type:

Thermoplastic
- PE
  - LDPE/LLDPE
  - HDPE
- PP
- Others (PS, PET, etc.)
Thermosets

By End-use:

Beverage
Food
Pharmaceutical
Household
Cosmetics & Personal Care
Others (Chemicals, Fertilizers, etc.)

By Region:

North America
Latin America
Europe
Asia Pacific
The 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

Global Cancer Diagnostics Market is anticipated to experience substantial expansion, boasting a projected CAGR of 8.5% from 2023 to 2033

The global cancer diagnostics market is on track for a significant surge, driven by rising cancer cases, advancements in technology, and increasing demand for early and accurate diagnosis. According to a recent market analysis, the industry is expected to grow at a healthy CAGR of 8.5%, reaching a staggering US$ 126 billion by 2033, up from US$ 55.71 billion in 2023.

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This remarkable growth is fueled by several key factors:

Rising cancer cases: An aging population, changing lifestyles, and environmental factors are contributing to a global rise in cancer incidence. This creates a critical need for efficient and accurate diagnostic tools.
Technological advancements: The industry is witnessing rapid advancements in technologies like liquid biopsies, genetic testing, and precision oncology, enabling earlier and more precise diagnoses.
Modernization of healthcare infrastructure: Hospitals, diagnostic centers, and healthcare institutions are increasingly investing in modernizing their technology to offer cutting-edge cancer diagnostic services.
Growing awareness and emphasis on early detection: Public awareness campaigns and increasing emphasis on preventive healthcare are driving demand for regular screenings and early diagnosis, leading to a surge in diagnostic services.

This market expansion presents exciting opportunities for:

Diagnostic technology developers: Companies developing innovative and efficient diagnostic tools can tap into a rapidly growing market.
Healthcare providers: Investing in advanced diagnostic technologies can empower healthcare providers to offer improved patient care and attract new patients.
Investors: The cancer diagnostics market presents a lucrative investment opportunity with its promising growth potential.

As the fight against cancer continues, the global cancer diagnostics industry plays a crucial role in enabling early detection and effective treatment. With the confluence of rising demand, technological advancements, and increasing awareness, the industry is poised for a bright future, offering significant benefits for patients, healthcare providers, and investors alike.

Key Takeaways from the Global Cancer Diagnostics Market Study Report by FMI:

The net worth of the total cancer diagnostics business in the United States in the year 2022 was figured out to be 32.6% of the global market share. FMI further predicts substantial room for expansion in North America, given the increased incidence of cancer in the United States and Canada.
Europe, with a global market share of 30.1% in 2022, is also predicted to witness equal growth in most countries. Regional market players may take advantage of these chances by forging a solid presence and adjusting their product lines to suit local demands.
Based on FMI findings, Asia Pacific countries are poised to witness a greater growth trend during the forecast years. China, India, and Australia are the three prominent markets with anticipated CAGRs of 9.8%, 8.3%, and 13.4% between 2023 and 2033.

“Advancements in cancer diagnostics and rising prevalence of cancer are expected to aid growth of cancer diagnostics. A majority of leading players in cancer diagnostic market are adopting strategic partnerships to sustain the increasing competitive pressure,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

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Competitive Landscape for the Cancer Diagnostics Market Players:

Abbott Laboratories
Roche Holding AG
Thermo Fisher Scientific Inc.
Siemens AG
Bio Rad Laboratories Inc.
GE Healthcare
Illumina, Inc.
Bristol-Myers Squibb
Koninklijke Philips N.V.
Toshiba Medical Systems Corporation
Agilent Technologies Inc.

Some top players in this market. The leading market players that provide cutting-edge, easy-to-use diagnostic equipment have somewhat consolidated the market and are ideally positioned to profit from this expanding sector.

Worldwide, governments and medical institutions have also started extensive cancer screening programs, which has increased demand for cancer diagnostic services from private market players. So, existing and new market players now have exciting new prospects due to the rising demand for cancer diagnostics, particularly in the emerging economies. New diagnostic service companies may increase their clientele and get a competitive edge in the coming days by providing accurate and rapid findings.

Cancer Diagnostics Market by Category:

Test Type

Tumour Biomarkers Tests
- PSA Tests
- CTC Tests
- AFP Tests
- CA Tests
- HER2 Tests
- BRCA Tests
- ALK Tests
- CEA Tests
- EGFR Mutation Tests
- KRAS Mutation Tests
- Others
Imaging
- Ultrasound
- Mammography
- MRI Scan
- PET Scan
- CT Scan
- SPECT & Others
Biopsy
- Needle Biopsy
- Endoscopic Biopsy
- Bone Marrow Biopsy
- Others
Liquid Biopsy
Immunohistochemistry
In Situ Hybridization

Indication

Breast Cancer
Lung Cancer
Colorectal Cancer
Melanoma
Blood Cancer
Prostate Cancer
Ovarian Cancer
Stomach Cancer
Liver Cancer
Others

End-user

Hospital Associated Labs
Independent Diagnostic Laboratories
Diagnostic Imaging Centers
Cancer Research Institutes
Others

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About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Fish Deboning Machine Market Size Surges to US$ 415 million by 2033

The fish deboner machine is a specialized device utilized primarily for efficiently extracting fish flesh, employing a stainless steel rotary drum featuring strategically placed screening holes. Through the meticulous extraction process facilitated by these screening holes, the fish deboner effectively separates the flesh from the fishbone, significantly reducing labor and time requirements. Available in a range of models, the fish meat bone separator caters not only to large-scale production facilities but also to home users seeking convenience and efficiency in fish processing tasks.

The global demand for fish deboning machines market is projected to experience steady growth, with a compound annual growth rate (CAGR) of 3.9%. By 2023, the market revenue is estimated to reach US$ 274 million, and it is expected to witness significant expansion, reaching a revenue of US$ 415 million by 2033.

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Market Players innovate tech to reduce labor

Manufacturers of fish deboning machines highlight their products’ ability to operate in extreme conditions, boasting capabilities at temperatures as low as -30°C and emphasizing waterproof designs. They take pride in their reputation for delivering high-quality, reliable, and cost-effective solutions.

Their primary focus is on providing exceptional customer service while maintaining competitive pricing. They aim to introduce state-of-the-art technology to streamline operations, reduce labor costs, and optimize resource utilization. Their product offerings range from advanced, high-quality fish deboning machines to budget-friendly options, catering to various sectors and budgets. These machines are capable of processing fish at impressive rates, with some models capable of deboning up to 50 lakh fish per minute.

Hygiene and ease of maintenance are paramount considerations for manufacturers, with machines designed for easy cleaning and maintenance. Quick tightening mechanisms facilitate the dismantling of transport belts, while accessible components enable thorough cleaning. The machines are engineered to grind fish bones, blood clots, and skin efficiently and swiftly, ensuring a seamless and user-friendly process.

The growing demand for processed and packaged convenience food products has driven the need for efficient fish meat processing, including deboning. As a result, manufacturers are expected to focus on innovation to meet market demand and capitalize on opportunities in the global fish deboning machine market.

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Recent Developments

In a significant development, in December 2019, the governments of India and Maldives inked three Memorandums of Understanding (MoU) to establish Neighbourhood Fish Processing Plants in Addu City. These collaborative efforts mark the inception of a series of High Impact Community Development (HICDP) projects aimed at bolstering the fisheries sector in the region.

Furthermore, demonstrating its commitment to enhancing the fishery sector, the Indian government, in July 2019, unveiled a pioneering scheme designed to foster processing capabilities within the industry. Under this scheme, Indian Finance Minister Nirmala Sitharaman allocated an estimated Rs 3,737 crore for the Ministry of Fisheries, Animal Husbandry, and Dairying. The scheme addresses various deficiencies in the fishery value chain, including infrastructure, modernization, traceability, production, productivity, post-harvest management, and quality control. This strategic initiative underscores the government’s proactive approach towards revitalizing the fishery sector and promoting sustainable growth across the value chain.

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