Market Research Blog – Page 3640 – New Product Development

Exploring the New Frontiers of Sealless Pump Market Dynamics | Future Market Insights,Inc.

Global sales of the sealless magnetic drive pumps market are set to be valued at over US$ 674.6 million in 2023. From 2023 to 2033, the worldwide market is expected to expand at a value CAGR of 6.4%. By 2033, total market revenue is likely to cross US$ 1252.3 million.

Growth in the market is driven by the increasing demand for energy-efficient technologies and rapid industrialization. Growing usage of sealless magnetic drive pumps across sectors such as chemical and pharmaceutical will boost the market.

The rising number of water treatment projects, especially in emerging economies will fuel sealless magnetic drive pump sales. The magnetic drive pump market will also experience greater expansion as the significance of recycling water increases globally.

Industries are required to invest heavily in new technologies by environmental agencies such as the Pollution Control Agency and the Environmental Protection Agency to limit pollution emissions. This in turn will continue to fuel demand for sealless magnetic drive pumps.

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Sealless magnetic drive pumps are widely used in industries such as pharmaceutical and chemical. This is due to their safe, reliable, and leak-proof features. As per Future Market Insights (FMI), the pharmaceuticals segment is estimated to hold more than one-fifth of the market value share.

Sealless magnetic drive pumps are used in the pharmaceutical industry for applications where precision and contamination control are critical. They are also suitable for pharmaceutical applications that require high accuracy and precision, such as dosing and metering.

Key Takeaways from Sealless Magnetic Drive Pump Market Study

The global sealless magnetic drive pump market will expand at a CAGR of 6.4% through 2033.
By pump type, metallic pump segment is estimated to hold a dominant share of around 64.3% in 2023.
By end use, the pharmaceutical segment will create an incremental opportunity of nearly US$ 127.3 million through 2033.
Sealless magnetic drive pump demand in China is likely to increase at 5.1% CAGR through 2033.
The United States sealless magnetic drive pump market value is forecast to reach US$ 208.5 million by 2033.
Germany market will thrive at a CAGR of around 5.8% between 2023 to 2033.

‘The ever-expanding sectors such as pharmaceutical and chemicals are expected to drive the global sealless magnetic drive pump industry through 2033. To gain maximum profits, manufacturers would find it beneficial to focus on the production of sealless magnetic drive pumps that provide higher efficiency.’ says a Future Market Insights (FMI) analyst.

Who is Winning?

The sealless magnetic drive pump industry is moderately consolidated with few global players acquiring around 70% to 80% of the market shares. Leading manufacturers are likely to invest in new technology developments and expand their distribution networks to maintain their market presence.

Key Companies Profiled:

EBARA Corporation
Xylem Inc
Flowserve Corporation
Kirloskar Brothers Limited
ITT Goulds Pumps Inc.
Iwaki Co. Ltd
Grundfos Pumps Corporation
Teikoku Electric Mfg. Co. Ltd.
Ruhrpumpen group
Sundyne LLC
Klaus Union
GCA Energy
Magnatex Pumps Inc.
KSB SE and Co.KGaA
Sulzer AG
Wilo SE
PSG (Dover Corporation)
Dickow Pumpen GmbH and Co. KG

Recent Developments:

In August 2021, Flowserve revealed plans of widening their portfolio on offer for sealless pumps, by launching the new Durco Mark 3 ISO magnetic drive pump.
In June 2021, IDEX announced the acquisition of Flow Management Devices LLC, a manufacturer of precision flow measurement and control solutions.

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Sealless Magnetic Drive Pump Market Segmentation

By Pump Type:

Metallic Pump
ATEX

By Flow Rate:

Up to 80 m3/hr
81 to 200 m3/hr
201 to 500 m3/hr
Above 501 m3/hr

By End Use:

Chemical
Petroleum Refineries
Food and Beverages
Pharmaceutical
Biotech

By Region/Country:

Switzerland
Germany
Austria
Italy
France
Rest of Europe
United States
Mexico
China
Rest of Asia

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 is 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 5,000 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
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The Rise of Packaging Automation: Transforming Industries Worldwide

Packaging automation refers to the use of automated systems and technologies to streamline and optimize packaging processes in various industries. These automated solutions are designed to increase efficiency, improve productivity, reduce labor costs, and enhance overall packaging quality.

The global Packaging Automation sector is poised for steady growth, with a projected compound annual growth rate (CAGR) of 8.05% over the forecast period. As of 2023, the market is currently valued at US$ 74.53 billion. This upward trajectory is expected to continue, culminating in a substantial market valuation of US$ 161.66 billion by 2033.

As the pharmaceutical industry grows, so would the demand for packaging automation to keep drugs safe from the environment and prevent them from changing in any way that could affect their efficacy. The pharmaceutical industry is investing heavily in packaging systems to improve efficiency and customer service. Automation in the packaging of medical devices like bottles, catheters, caps & closures, inhalers, syringes, disposables, and more helps reduce human error, boosts product quality, and protects patients. The need for packaging automation is expected to rise as a result of these factors.

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Recent Developments

In August 2022, Maxpack Machinery LLC unveiled Leap, a groundbreaking addition to their packaging equipment lineup, offering clients the flexibility to pay over time. Leap represents Maxpack’s response to the expanding Buy Now, Pay Later industry, providing automation hardware available in premium packages with zero-interest, credit-free payments spread out over 18 months.

In May 2022, ULMA Packaging made waves with the announcement of their latest innovation, the TSA 400 compact tray sealer, set to debut at the prestigious IFFA 2022. The TSA 400 boasts exceptional versatility, capable of operating in SKIN, MAP, LEAFSKINTM, and LEAFMAPTM settings. With its compact footprint and impressive output speed of 2.3 meters, the TSA 400 is tailor-made for environments with limited space, offering high performance in a small package.

Key Aspects:

Automated Equipment: Packaging automation involves the use of a wide range of automated equipment and machinery, including filling machines, sealing machines, labeling systems, conveyors, robotic arms, and palletizers. These machines are designed to perform specific packaging tasks with precision and consistency.
Integration of Technologies: Packaging automation often integrates various technologies such as robotics, sensors, vision systems, and software to automate different aspects of the packaging process. These technologies work together to perform tasks such as product handling, inspection, labeling, and palletizing seamlessly.
Customization and Flexibility: Modern packaging automation systems are highly customizable and adaptable to accommodate different product types, sizes, and packaging formats. They can be easily configured and reconfigured to meet changing production requirements and accommodate new product lines.
Data Monitoring and Analysis: Packaging automation systems often include built-in monitoring and data analysis capabilities that allow operators to track key performance metrics such as production speed, downtime, and quality control. This data can be used to identify inefficiencies, optimize processes, and make data-driven decisions to improve overall packaging operations.
Safety Features: Safety is a top priority in packaging automation, and automated systems are equipped with various safety features such as emergency stop buttons, safety sensors, and guarding to protect operators and prevent accidents in the workplace. Top of Form

Growth Factors

Aging Population and Healthcare Expenses: An aging population and increasing healthcare costs drove the demand for healthcare and diagnostic solutions, spurring the expansion of the Packaging Automation Market.
Infectious Diseases and Clinical Studies: The rise in infectious diseases and the conduct of clinical studies necessitated more efficient packaging and automation technology in the healthcare sector.
Lab Automation Advances: Advancements in lab automation technology played a crucial role in the market’s growth by improving efficiency and precision in diagnostic and treatment processes.

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UAE Faith-Based Tourism Market Sees a Pinnacle at US$ 1,322.21 Million, Anticipating 15% CAGR by 2033 | FMI

The UAE faith based tourism market is expected to register a sturdy CAGR of 15% between 2023 and 2033. In 2023, the market size is expected to be US$ 326.83 million. By 2033, the numbers are expected to surge above US$ 1,322.21 million.

The UAE has one of the most prosperous religious tourism industries in the Gulf. It is also considered to be the Arab world’s largest source of tourists. Emergence of Halal tourism, a subcategory of tourism meant for Muslim families who abide by the rules of Islam is anticipated to bode well for the UAE faith based tourism market in the next decade.

Various tour companies are gaining new opportunities owing to the advent of Halal tourism and are thus designing unique travel packages, following every guideline of Halal. They are also striving to attract more visitors by providing novel facilities in accordance with the religious beliefs of Muslim tourists.

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Besides, the UAE government is investing huge sums in the development of new spiritual places for people of all religions. It is a significant factor that is boosting religious pilgrimage tourism in the UAE.

Also, government agencies in the country are taking various initiatives to promote and protect its legacy and culture. The Department of Culture and Tourist, Abu Dhabi, for instance, aims to regulate, promote, develop, and advertise Abu Dhabi’s tourism business.

Key Takeaways: UAE Faith Based Tourism Market

By booking channel, the online booking segment is leading the market and is estimated to generate ~36% of the UAE faith based tourism market share.
By age group, the 46-55 years segment is anticipated to remain at the forefront in the UAE faith based tourism market through 2032.
Based on tourist type, the international segment is estimated to hold the lion’s share over the forecast period.
By tourism type, the religious and heritage tours segment is likely to generate ~9.0% of market share during the assessment period (2022-2032).
In terms of tour type, the package travelers segment is projected to account for the highest share in the UAE faith based tourism market by 2032.

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“Ongoing development of online booking platforms by travel agents and companies to help tourists gain in-depth knowledge about a particular attraction before traveling is expected to boost the UAE faith based tourism market,” says a FMI analyst.

Key players profiled

Saifco Travel & Tourism L.L.C
Trav Trips Travel and Tourism LLC
Sky King Travel and Tourism L.L.C
ATS Travel
Regal Dubai Travel Agency
Rayna Tours and Travel
Orient Travel & Tourism Agency LLC
Jashna Tourism L.L.C
Pinoy Tourism and Travel
Dubai Private Tours
Rezbook Travel Agency
Smart Travel
Orient House Travel
Arabian Orxy Travel & Tourism LLC
Satguru Travel and Tourism LLC
Dusk Travel and Tourism
Al Shahad Travel

UAE Faith Based Tourism Market Outlook by Category

By Tourism Type:

Day Trips & Local Gateways
Museums
Pilgrimages
Religious and Heritage Tours
Others

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

By Consumer Orientation:

Men
Women
Children

By Tour Type:

Independent Travelers
Tour Groups
Package Travelers

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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Charting Evolution and Trailblazers in the 2033 Transformer Tap Changers & Voltage Control Relay Landscape

The market for transformer tap changers and voltage control relays is anticipated to be worth more than US$ 2357.1 Million by 2033. It is predicted to increase by 4.9% yearly.

Over the course of the projection period, sales of transformer tap changers and voltage control relays are expected to grow at a respectable CAGR of 4.9%. The market is predicted to reach its peak value of US$ 2357.1 Million in 2033.

The market for high-power transformers is expanding rapidly as a result of the need for high-capacity power plants and the increasing demand for electricity. Transformer devices are hence used to enable the transmission of power across greater distances through interconnected networks.

Tap changers are a crucial part of transformer systems as they can maintain a constant voltage within the constraints of the transformer. These can also guarantee the unbroken operation of the machinery and maintain it for use in large power networks or industries.

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In emerging countries, the expansion of the housing market is increasing the need for dependable electricity sources. The need for transformer accessories and components such as tap changers, voltage relays, and other related products, is hence growing.

Leading companies should profit from consistent growth opportunities as medium- and small-sized enterprises become more and more recognized. They aim to be a viable alternative for individuals looking to invest in infrastructure development.

Several regional administrations have varied plans for electrification, including the construction of hydroelectric facilities and the electrification of rural areas. It is predicted that these will help to raise the need for transformers. The market is expected to be propelled by the increased reliability of transformers due to retrofit possibilities for reducing maintenance costs.

Key Takeaways from the Transformer Tap Changers and Voltage Control Relay Market Study :

By phase type, the three-phase segment is estimated to account for a significant share of 59% in 2023.
On the basis of application, the industry segment is likely to dominate the market and create an incremental opportunity of US$ 219.4 Million from 2023 to 2033.
The global transformer tap changers and voltage control relay industry is anticipated to provide a total revenue potential of US$ 892.90 Million in the period of assessment.
Germany transformer tap changers and voltage control relay industry is anticipated to expand at a CAGR of 4.4% in the next ten years.
China transformer tap changers and voltage control relay industry is expected to flourish at 6% CAGR from 2023 to 2033.

“Urgent requirement for effective power transmission and distribution systems is projected to drive the market. Through 2033, the market is also expected to be influenced by the world’s aging power infrastructure and rising electricity demand. Reliability is a major issue for modern consumers. Manufacturers in the market would find significant growth opportunities in innovating towards this end.” S ays a lead analyst at Future Market Insights (FMI).

Competitive Landscape:

The global transformer tap changers and voltage control relay market is moderately consolidated with few global players acquiring around 40% to 50% of shares. These players are likely to invest in new technology developments and expansion of their distribution networks to maintain their presence.

Key Companies Profiled:

Siemens AG
ABB Ltd
Hitachi Energy Ltd
Brush (FKI Group)
Maschinenfabrik Reinhausen GmbH
Schneider Electric
Rockwell Automation
Schweitzer
Toshiba Corporation
Mitsubishi Electric Corporation
Eaton

Recent developments:

In September 2022 , General Electric announced that it had developed a new grid management system. This new system provided advanced voltage control and transformer tap changer technology, ultimately improving the efficiency and reliability of power systems.
In December 2022 , Siemens revealed that it had supplied its advanced voltage control technology to the Grid Asset Management project in the UK. This project specifically aims at improving the durability of the country’s power grid.

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Find More Valuable Insights :

The research report analyzes the demand for transformer tap changers and voltage control relays. The global transformer tap changers and voltage control relay market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Future Market Insights Inc. (FMI), the market has been analyzed based on phase (single phase, three phase), application (industrial, utility & grid, commercial), product type (transformer tap changers, voltage control relays), and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply-side and demand factors.

Market Outlook by Category :

By Phase:

Single Phase
Three Phase

By Application:

Industrial
Utility and Grid
Commercial
Others

By Product Type:

Transformer Tap Changers
- Off-circuit Tap Changer
- On-circuit Tap Changer
Voltage Control Relays
- DIN Rail
- Panel Mounted

By Region:

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

About Future Market Insights (FMI)

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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Mobile Travel Market Anticipates a Striking 15.8% Increase to US$ 1,486.7 Million by 2033 | FMI

The global mobile travel market is worth US$ 343.3 Million as of now and expected to reach US$ 1,486.7 Million by the year 2033 at a robust CAGR of 15.8% between 2023 and 2033.

The 21^st century has witnessed alteration in societal dynamics like never before. With smartphones being an indispensable part of the lives, travel & tourism sector is slated to witness exponentiation going forward.

The present-day smartphones are abreast with various user-friendly, essential applications enabling travel. Paper maps are the thing of past. The travellers are more into using mobile devices equipped with GPS; which help in precise navigation. As such, booking a hotel, trip, or car is comfortable and simple as smartphones let users browse through the information within no time.

The travel agencies are also modifying their marketing communications along with implementation of technological advancements. Almost all the airline businesses and hotels have integrated their services in a smart app for capitalizing on the rapidly expanding travel and tourism sector.

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Lower data charges is one of the factors influencing the mobile travel market. In the last few years, the mobile travel landscape did undergo a major overhaul due to budget-friendly and easy-to-use smartphones.

Mobiles have also helped in apprising people about the tourist destinations unknown till date. Various public and private partners have also come up with tourism promotion activities, which is fostering the mobile travel market. MakeMyTrip has confirmed that a sizable percentage of the flights was booked in the last few years using smartphones.

Those travelling for healthcare and businesses run short of time when it comes to visiting the offices physically to get a booking. As such, the geo-localized mobile applications come to the rescue. They signify tedious and complex processes and render the much-required relief. These apps also help in averting rigid, long registration procedures for reducing efforts and time involved. Another advantage is that of certain apps offering travel insurance along with the tickets. Bulk booking helps in availing discounts as well.

At the same time, the fact that various terrorist attacks have plundered travel and tourism industry at the global scale. The tourists also give a second through regarding these tourist destinations. This factor may restrain the mobile travel market in the years to come. Plus, the likelihood of the apps getting hung on innumerable people trying to access them can’t be ruled out; especially during the festive times. This could go against the mobile travel market as even a bit of delay could cost the user his/her desired ticket.

Future Market Insights has entailed these findings with future prospects in its latest market study entitled ‘Mobile Travel Market’. The team of analysts and consultants is there to execute through its eagle’s eye view across macros and micros.

“Availability of better internet services through smartphones is expected to catalyze the mobile travel market going forward”, says an analyst from Future Market Insights.

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Key Takeaways from Mobile Travel Market

North America holds the largest market share, followed by Europe and the Asia-Pacific. This could be credited to smartphones penetrating the regions at an alarming rate.

Competitive Travel

The key players in the mobile travel market include TUI Group, Elong Inc., AirGorilla, LLC, MakeMyTrip Pvt. Ltd., Hays Travel Ltd., Airbnb Inc., Expedia Inc., Trivago, HomeAway, Cleartrip Pvt. Ltd., KAYAK, Skyscanner Ltd., and likewise.

What does the Report travel through?

The research study is based on age (under 18, 18-25, 26-35, 36-45, 46-55, and over 55), by visit purpose (leisure travel, business travel, education-employment-pilgrimage, and visiting friends & relatives), by demographics (female, male, and kids), by service type (transportation, travel accommodation, and vacation packages), and by tourism type (international and domestic).
With extensive mobile penetration, the global mobile travel market is expected to grow voraciously in the next few years.

Mobile Travel Market by Category

By Age:

Under 18
18-25
26-35
36-45
46-55
Over 55

By Visit Purpose:

Business Travel
Leisure Travel
Education-Employment-Pilgrimage
Visiting Friends & Relatives

By Demographic:

Male
Female
Kids

By Service Type:

Transportation
Travel Accommodation
Vacation Packages

By Tourism Type:

Domestic
International

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

Dive into the Global Frozen Seafood Market: Trends, Nutrition, and Technological Advancements | FMI

The market for frozen seafood is anticipated to be worth US$ 19,382.3 million by the end of 2023. It is set to expand at a CAGR of 6.8% between 2023 and 2033. By 2033, the market is projected to contribute a value of US$ 37,398.5 million.

Global fish consumption has significantly increased during the last few decades. With rising living standards, growing nations like those in Latin America and the Asia-Pacific region could see an increase in their seafood consumption. The growing consciousness among the millennial population regarding the benefits of consuming seafood will also have an impact.

In many countries, especially those where the diets are low in protein, fish protein is an important source of nutrition. Seafood is an important source of other vital nutrients in addition to protein. Zinc, selenium, and vitamin B1 are particularly abundant in fish and shellfish, such as salmon, prawns, and clams.

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Omega-3 fatty acids, particularly eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), are mostly found in seafood. Because of its high nutritional content, seafood provides protection against a variety of health issues.

Consumption of seafood has increased as a result of the idea that eating seafood is healthy, and output is predicted to rise steadily as a result. Less waste, better utilisation, and improved distribution techniques would all be advantageous.

In locations where fresh seafood is more difficult to find, frozen seafood is more prevalent because it can be stored for a long period. This suggests that even those who live far from the coast or in an area with few transportation options can enjoy seafood all year round. Additionally, frozen seafood is simpler to transport than fresh seafood, which can be highly delicate and require special treatment.

Due to high demand and the scarcity of some species, fresh seafood can be pricey; nevertheless, frozen seafood is typically less expensive. Bulk frozen fish purchases provide for even greater cost reductions and more economical meal preparation.

Due to improvements in freezing technology, sales of frozen seafood are anticipated to increase drastically worldwide. Thanks to contemporary technology, it tastes almost as fresh as its unfrozen counterpart. As a result, frozen seafood is now more widely accepted and has less of a stigma connected to it.

Key Takeaways from Frozen Seafood Market Study

The global frozen seafood industry expanded at a CAGR of 4.9% from 2018 to 2022.
The USA frozen seafood industry is anticipated to reach a valuation of US$ 9,217.8 million by 2033.
A CAGR of 6.4% is expected from India’s frozen seafood industry from 2023 to 2033.
In 2033, China frozen seafood industry is expected to contribute a value share of 49.4%.
Based on product type, the frozen crab segment is estimated to hold a global market share of 27% in the forecast period.

“It is projected that advancements in refrigeration would propel the market in both commercial and industrial settings. Growth is also connected to ongoing advancements in sophisticated distribution systems. Technological advancements in seafood product storage, processing, and packaging have further contributed to the expansion of the global frozen seafood industry.” – Says a lead analyst.

Competitive Landscape: Frozen Seafood Market

As the need for novel formulations from the food & beverage industry increases, leading frozen seafood manufacturers are concentrating on products delivering a wide range of health advantages. Consumption of frozen fish has grown over time among all populations.

Leading producers of frozen fish are working to gain a high market share through partnerships, mergers, and acquisitions while continuing to develop new product lines. Due to the increased need for innovative formulations from the food & beverage industry, top frozen seafood manufacturers are likewise concentrating on releasing upgraded and modified items.

For instance,

In August 2021, Frozen Fish Direct introduced its latest user-friendly e-commerce site. While numerous individuals enjoy eating fish, Frozen Fish Direct is aware that they might not always be able to find fresh kinds at their neighborhood grocery. This information motivated Frozen Fish Direct to develop and launch their brand-new online store, providing its devoted clients with a convenient and stress-free option to buy for a large selection of fish and seafood.

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Get Valuable Insights on Frozen Seafood Market

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the frozen seafood industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from (2023 to 2033). The study divulges compelling insights on the demand for frozen seafood based on frozen seafood industry by product type (tuna, rainbow trout, sardines, mackerel, herrings, salmon, shrimp, crab, lobster, krill), nature (organic, conventional), form (whole, fillet), end use (food processing industry, food service industry, retail/household), distribution channel (B2B, B2C, online retailers), and regions.

Frozen Seafood Market Outlook by Category

By Product Type:

Tuna
Rainbow Trout
Sardines
Mackerel
Herrings
Salmon
Shrimp
Crab
Lobster
Krill

By Nature:

Organic
Conventional

By Form:

Whole
Fillet

By End Use:

Food Processing Industry
Food Service Industry
Retail/Household

By Distribution Channel:

B2B
B2C
Online Retailers

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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 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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Vietnam Tourism Market Eyes Impressive Growth, Targets US$ 135,000 Million by 2033 | FMI

According to Future Market Insights’ most recent research, Vietnam tourism market is predicted to generate US$ 27,500 million in sales by the end of 2023. Long-term estimates place tourism’s value at around US$ 135,000 million in 2033.

National parks, heritage sites and beaches are the major attractions for tourists who visit Vietnam. The local Vietnamese tour operators also arrange bicycle tours, photography tours, kayak trips and even tours of neighbouring countries such as Laos, Cambodia and Thailand.

Vietnam’s economy has recently transformed from an agrarian to a service economy and tourism has become one of the important elements of the modern Vietnamese economy. The annual arrivals of tourists have been rising since last few years. Considering this, Vietnam’s tourism board which is known as National Administration of Tourism has decided to diversify the tourism industry to bring in more foreign exchange in the country.

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Vietnam Tourism: Sector Forecast and Spend Analysis – Drivers and restraints

Vietnam is inexpensive. It is one of the cheapest countries not only in Southeast Asia but in the entire world. The value of Vietnam’s currency ‘dong’ is extremely low. For instance, one US dollar is around 22,000 Vietnamese dong. Naturally, even luxurious hotels or guest houses, food and internal travelling is very much affordable for foreign tourists. This is the most important factor driving the growth of Vietnam tourism.

Another major factor is that tourists from few countries have visa exemption in Vietnam. South Korean and Japanese tourists can enjoy 15 days visa exemption in Vietnam. The visa application process is extremely simple for US and Australian citizens too; and consequently, a large number of tourists prefer to visit Vietnam over other countries.

The Vietnam government has realised tourism to be a key to its future prosperity and is now accordingly implementing appropriate strategies and policies to transform Vietnam into a leading tourism destination in Asia. However, poor public infrastructure, inadequate business laws and lack of investment funds from foreign investors are hampering the growth of the tourism sector in Vietnam.

Vietnam Tourism: Sector Forecast and Spend Analysis – Future Projections

There is robust development in the future of Vietnam’s tourism. Apart from tourism campaigning by the government, an arrangement of various trade fairs and roadshows will play a vital part to encourage tourism growth in Vietnam. Vietnam offers visa-free travel to the citizens of seven countries – Japan, South Korea, Norway, Finland, Denmark, Sweden and Russia. Such policies are likely to boost the growth of the Vietnam tourism industry.

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According to the World Travel and Tourism Council (WTTC), the share of the travel and tourism sector to the GDP of Vietnam in 2015 was VND 279,287.0 billion (6.6% of GDP). This is projected to increase by 5.2% to VND 293,772.0 billion in 2016.

Vietnam Tourism Market by Category

By Direct Suppliers:

Airlines
Hotel Companies
Car Rental
Train
Tour Operators
Government Bodies

By Indirect Suppliers:

OTA (Online Travel Agency)
Traditional Travel Agencies
TMC’s( Travel Management Companies)
Corporate Buyers
Aggregators

By Age:

Under 18
18-25
26-35
36-45
46-55
Over 55

By Visit Purpose:

Business Travel
Leisure Travel
Education-Employment-Pilgrimage
Visiting Friends & Relatives

By Demographic:

Male
Female
Kids

By Nationality:

Domestic
International

By Tour Type:

Independent Traveler
Tour Group
Package Traveler

By Tourism Type:

Religious Tourism
Cultural Tourism
Medical Tourism
Others

By Booking Channel:

Phone Booking
Online Booking
In person Booking

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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 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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Digital Wound Measurement Devices Market Aims for US$ 3,293.3 Million with a Resilient 3.8% CAGR by 2033

The digital wound measurement devices market share is revolutionising the way wound care is managed. These cutting-edge tools help with accurate and effective wound assessments by utilising digital technologies. A growing number of healthcare professionals understand the importance of digital measuring in tracking the course of wound healing and enabling prompt treatments.According to FMI’s analysis, over the estimated period, the global market for digital wound assessment devices is expected to develop at a compound annual growth rate (CAGR) of 3.8%. It is anticipated that by 2033, the industry will have expanded from US$ 2,266.6 million in 2023 to US$ 3,293.3 million.

Chronic conditions such as diabetes, heart disease, obesity, etc. are becoming more common, which is driving up demand for digital wound assessment equipment. Development in the market is also being accelerated by the growing elderly population. Pumping Up Over the course of the forecast period, it is anticipated that the population’s disposable incomes, adoption of irregular eating and sleeping schedules, and changing lifestyles would all contribute to market development. Furthermore, it is projected that the use of digital wound assessment equipment will reduce total healthcare costs, which will foster market expansion in the years to come.

Growing demand for accurate wound measurement via Electronic Medical Record (EMR) software is prompting the use of digital wound measurement devices. Increasing demand for better diagnostic purposes is pushing the application of digital wound measurement devices. Moreover, the market is being spurred by the increase in laboratories outfitted with the latest, more advanced medical facilities, and the surge in target population across the globe.

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Top Highlights as Per FMI’s Analysis of the Digital Wound Measurement Devices Market:

The United States digital wound measurement devices industry is predicted to stay at the top in the forecast period as well. With US$ 1,026 million as the expected market estimation for the year 2033, the United States is anticipated to rule over all the countries. The market is projected to expand at 3.3% CAGR in the next 10 years.
Canada is assessed to follow the United States’ lead, by amassing US$ 444.7 million by 2033. The country is projected to register a 4.4% CAGR in the next decade.
In the Europe region, Germany’s contribution to the digital wound measurement devices industry is projected to be sizeable. Germany is anticipated to attain US$ 210.5 million by the end of 2033. The market is expected to display a 3.5% CAGR over the forecast period.
The United Kingdom is anticipated to expand at a significant pace of 5.6% CAGR in the forthcoming years. By 2033 end, the market is predicted to gain US$ 163.7 million.
In the Asia Pacific region, China market is prominent. The market is estimated to amass a total of US$ 130.9 million by 2033. The market is projected to exhibit a 4.2% CAGR over the forecast period.

What’s Brewing among Top Players?

Key participants in the market are invigorating their presence by launching new products or releasing new versions outfitted with advanced functionality. Some other common expansion practices among key players include acquisition, mergers, research, development, etc. Given below are some latest market developments:

In March 2022, Perceptive Solutions, Inc., developer of WoundZoom Digital Wound Management, revealed the expanded functionality and advancements of their WoundZoom® Mobile solution, equipped with auto border wound detection technology.
In April 2021, Perceptive Solutions, Inc., announced the launch of the WoundZoom Mobile application. This new solution arms healthcare provider by offering them an efficient and intelligent way to manage wound care.

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Key Players:

Perceptive Solutions Inc.
ARANZ Medical
Smith & Nephew plc.
WoundVision Inc.
WoundMatrix Inc.
KCI
Parable Health
Hitachi Healthcare Americas
3M Company
WoundRight Technologies

Key Segments:

By Wound Type:

Diabetic Ulcer
Chronic Wounds
Burns
Incisional
Traumatic

By End User:

Hospitals
Clinics

By Region:

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

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 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

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Polyether Ether Ketone Interbody Devices Market Set to Surge to US$ 4525 Million by 2033

In the field of spinal care solutions, the polyether ether ketone interbody devices market sale is going through a revolutionary stage. These instruments, which are made of the high-performance polymer PEEK, are essential during spinal fusion operations. PEEK interbody devices are becoming more and more popular because of its radiolucent nature, biocompatibility, and mechanical characteristics that nearly resemble bone. Between 2023 and 2033, the global market for polyether ether ketone (PEEK) interbody devices is anticipated to expand at a 7.4% CAGR. It is anticipated that sales of polyether ketone interbody devices will rise from US$ 2207.89 million in 2023 to US$ 4525 million by 2033.

Growing development and the growing need for polyether ether ketone from the aerospace, automotive, and electronics industries.The industry growth for polyether ether ketone interbody devices is expected to be driven by several variables throughout the projected period.

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Escalating Demand for Polyether Ether Ketone in the Healthcare

Industry to Accelerate Sales Growth

The booming demand for polyether ether ketone (PEEK) interbody devices from the healthcare industry may stimulate polyether ether ketone interbody devices industry expansion. Polyether ether ketone is good for its lightweight, great mechanical strength, temperature resistance, electrical integrity, and chemical resistance. These qualities make it a favored alternative over metals, resulting in increased demand for artificial bone and surgical equipment in the healthcare industry.

Dental implants, cranioplasty, joint replacements, interbody fusion, heart surgery, and soft-tissue treatments are also made from the polymer. The growing healthcare industry, as well as the rising preference for PEEK over metals, to fuel polyether ether ketone (PEEK) interbody devices market expansion.

High Price of PEEK Interbody Devices May Curtail Market Growth

Healthcare organizations must set aside a significant percentage of their money to buy PEEK interbody devices because they are frequently complex and difficult to obtain. The lack of willingness among many practitioners to buy peek interbody implant technologies restricts growth.

Due to its expensive manufacturing, polyether ether ketone’s use in various applications is constrained. As a result, polyether ether ketone (PEEK) interbody devices market expansion may get constrained.

Regional Analysis:

The polyether ether ketone (PEEK) interbody devices market is going to expand at exponential rates in Asia Pacific. The expansion is linked to the product’s expanding polyether ether ketone applications in the aerospace and defense sector.
The polyether ether ketone interbody devices industry expansion in Europe, where the United Kingdom and Germany are the major contributors, might be fueled by the high product adoption in the automobile industry.
The polyether ether ketone (PEEK) interbody devices market in North America is to expand significantly as a result of increased healthcare product demand.
The Middle East and Africa are to experience significant growth as a result of increased product usage in the electrical and electronics sector.
The polyether ether ketone (PEEK) interbody devices market in Latin America is being driven by the escalating demand from the oil and gas industry for glass-filled and carbon-filled PEEK.

Key Takeaway:

By product, the polyether ether ketone peek interbody fusion device segment is anticipated to register a CAGR of 7.4% between 2023 and 2033.
By end-user in the polyether ether ketone interbody devices market, the hospitals segment to register a CAGR of 8.8% between 2023 and 2033.
The United States market to record a CAGR of 6.9% and hit US$ 2800.5 million by the end of 2033.
The United Kingdom polyether ether ketone (PEEK) interbody devices market to advance at a CAGR of 7.1% and reach US$ 46.9 million by the end of 2033.
China market to develop at a CAGR of 9.5% and surpass US$ 576.1 million by 2033.
Germany market to record a CAGR of 9.7% and achieve US$ 122.5 million by 2033.
Canada polyether ether ketone interbody devices market to advance at a CAGR of 9.5% and attain US$ 3160 million by 2033.

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Competitive Analysis of the Polyether Ether Ketone (PEEK) Interbody Devices Industry

Market competition for polyether ether ketone (PEEK) interbody devices is highly consolidated. Leading polyether ether ketone interbody devices businesses in the global market place a high priority on expanding their manufacturing facilities, developing new products, entering unexplored markets, and reinforcing their core strengths.

The report includes information on a number of leading polyether ether ketone (PEEK) interbody devices manufacturers, including Zimmer Biomet Holdings Inc., Medtronic Plc., Stryker Corporation, B. Braun Melsungen AG, SeaSpine Holdings Corporation, Shandong Weigao Group Medical Polymer Company Limited, Alphatec Holdings Inc., Xtant Medical Holdings, Inc., Life Spine, Inc., and others.

Business Investments for Polyether Ether Ketone (PEEK) Interbody Devices

Launch

A new PEEK-based 3D printed filament called INFINAM PEEK was introduced by Evonik Industries in March 2021 (Polyether Ether Ketone). The new ready-to-use polymer filament might aid the company in diversifying its product line and is the perfect metal substitute in a wide range of industrial 3D applications.

Joint Venture

A joint venture between Yingkou Xingfu Chemical Company Ltd and Victrex Hong Kong Limited was formed in January 2020 to construct a PEEK polymer production facility in Liaoning, China. Both businesses are estimated to benefit from this partnership in terms of meeting customer needs.

Key Segments

By Product:

Posterolateral Fusion Devices
Interbody Fusion Devices
Anterior Lumbar Interbody Fusion Devices (ALIF)
Extreme Lateral Interbody Fusion Devices (XLIF)
Posterior Lumbar Interbody Fusion Devices (PLIF)
Transforaminal Lumbar Interbody Fusion Devices (TLIF)
Other Devices

By End Use:

Hospitals
Ambulatory Surgical Centers
Specialty Clinics

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 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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Scrolling to Success: Anticipating Global Revenue Growth in the USA’s Compressor Market

According to a recent market analysis by Future Market Insights (FMI), the USA scroll compressor market is anticipated to reach US$ 1,703.6 Million in 2033, expanding at a CAGR of 4.9% from 2023 to 2033.

The USA scroll compressor market is a fast-growing market driven primarily by increasing demand for energy-efficient systems. Rising environmental awareness and growing requirements for air conditioning and refrigeration systems are also prominent factors pushing sales in this market.

Along with this factor, prominent players are focused on acquisitions, mergers and partnerships with regional players. Furthermore, the leading players are expanding their range of compressors compatible with low GWP refrigerates. This is particularly happening in regions which have strict norms against the use of high GWP refrigerants, like the USA.

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The USA scroll compressor industry is driven by several additional factors, like the growth of the service industry and the oil-free scroll compressor segment.

The market, however, also faces some challenges. A few of these would be intense competition and fluctuating raw material prices. The market has only recently begun recovering from the impact of COVID-19 and political instability from the Ukrainian crisis on supply chains.

These factors may hinder the growth of the market in the short term, but the long-term outlook remains positive due to the increasing demand for sustainable and energy-efficient solutions.

Key Takeaways:

Over the course of the forecast period, the market share of the refrigeration sector is estimated to grow to about 80% of the total value.
The total revenue from the USA scroll compressor market in 2022 was calculated to be around US$ 1013.2 Million.
Scroll compressor sales in the USA are expected to hit US$ 1056.7 Million by 2023 end.
The USA scroll compressor market is projected to hit a value of US$ 1703.6 Million by the end of the forecast period 2023 to 2033.
The CAGR for the forecast period 2023 to 2033 is estimated to be 4.9%.
The estimated collective value share of the top 5 companies is set at 25-30% by 2023 end.

“Rising sustainability concerns have permeated all industries across the globe. Even in the face of intense refrigeration and cooling requirements, environmental concerns have emerged as crucial factors influencing the choice of materials and production processes in the USA scroll compressors industry. Manufacturers would find significant growth opportunities in catering to the HVAC segment, which is predicted to keep growing substantially over the forecast period.”– says a lead Analyst.

Competitive Landscape:

Market participants vie with one another in terms of quality, price, performance, dependability, and novelty. Companies strive to stay ahead of the competition by continually innovating and expanding their product lines to meet the diverse needs of their customers. Large sums are also spent on research & development to enhance product quality and functionality by businesses.

The major players in the market are working to expand their customer base by improving their distribution channels and offering after-sale services like repairs and set-up. To raise awareness of their products, the major players use a wide range of promotional tactics, such as paid search advertising, social media marketing, and attendance at industry events.

Some key players in the market covered in the report are Midea Group (GMCC), Daikin Compressor Industries Limited, Zhuhai Landa Compressor Co. Ltd. (Gree), Panasonic Corporation, and LG Electronics.

Recent developments:

In November 2021, Emerson announced the launch of its new Copeland ZX scroll compressor range for commercial refrigeration applications.

Find More Valuable Insights:

The research report analyzes the demands and trends of the USA scroll compressor market. The global market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of scroll compressors. As per Future Market Insights (FMI) research scope, the scroll compressor market has been studied and segmented on the basis of type and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.

USA Scroll Compressor Market by Category:

By Type:

Air Conditioning
- Residential (1HP to 6HP)
- Commercial (7.5 HP to 30 HP)
Refrigeration
- Condensing units (1 HP to 10HP)
- Industrial (10HP to 30 HP)

By Region:

West USA
Mid-West USA
North East USA
South USA

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About Future Market Insights (FMI)

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

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