Global Urinary Tract Infection (UTI) Treatment Industry Set for Impressive Expansion, Projected CAGR of 1.9% to Reach US$ 13,617.4 Million by 2034 | FMI

The Global Urinary Tract Infection (UTI) Treatment Industry is estimated to be worth US$   11,244.0 million in 2024 and is projected to be valued at US$ 13,617.4 million in 2034. Between 2024 and 2034, the industry is expected to register a growth rate of 1.9%.

The urinary tract infection treatment market is poised for substantial growth in the foreseeable future, attributed to factors such as hormonal changes, inadequate personal hygiene practices, catheter usage, and other contributing factors. As the prevalence of urinary tract infections rises, the market is anticipated to experience noteworthy expansion in the coming years.

The heightened occurrence of chronic kidney diseases, including conditions like bladder cancer and renal failure, has resulted in a greater utilization of catheters and other drainage devices among patients. Individuals using urinary catheters face an elevated risk of developing complicated urinary tract infections, driving the demand for UTI treatment.

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Supportive government policies, initiatives, and regulations can influence the market positively by fostering research and development in the field of UTI treatment. Increased spending on healthcare infrastructure and services, both in developed and developing countries, can positively influence the UTI treatment market.

The adoption of telehealth and remote patient monitoring technologies can facilitate better management and follow-up care for individuals with UTIs. Growing awareness among patients and healthcare professionals about the importance of early detection and prompt treatment of UTIs can contribute to market growth.

Global Urinary Tract Infection (UTI) Treatment Industry Key Takeaways

  • From 2019 to 2023, the urinary tract infection (UTI) treatment market was valued at a CAGR of 2.1%
  • Based on indication, the uncomplicated UTI segment is expected to account for a share of 76.2% in 2024.
  • Global urinary tract infection (UTI) treatment demand in China is predicted to account for a CAGR of 2.0% in 2024.
  • In the United States, the urinary tract infection (UTI) treatment industry is expected to account for a CAGR of 2.5% in 2024.
  • India is projected to expand by a value CAGR of 1.9% between 2024 and 2034.
  • The urinary tract infection (UTI) treatment market in Japan is anticipated to record a CAGR of 2.1% in 2024.

“Increased prevalence of urinary tract infections and strategic advancements in treatment options propel the growth of the urinary tract infection treatment market.” says an FMI analyst.

Global Urinary Tract Infection (UTI) Treatment Industry Competitive Landscape

The market players are investing in ongoing research and development activities to discover and develop new and more effective UTI treatment options. This could involve the exploration of novel antibiotics, combination therapies, and innovative drug delivery methods. Expanding market presence by entering new geographic regions and enhancing distribution networks to ensure wider availability of UTI treatments.

  • Bristol-Myers Squibb Company focuses on the development of drugs in various therapeutic areas, including infectious diseases. They might have products related to UTI treatment.
  • Janssen Global Services LLC is a pharmaceutical company under the umbrella of Johnson & Johnson. They may have products related to infectious diseases, including UTI treatment.
  • Lupin is an Indian multinational pharmaceutical company. They might have a range of pharmaceutical products, including those related to infectious diseases.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global urinary tract infection (UTI) treatment market, providing historical data from 2019 to 2023 and forecast statistics between 2024 and 2034.

To understand opportunities in the urinary tract infection (UTI) treatment industry, the industry is segmented based on Drug Class (Penicillin & Combinations, Quinolones, Cephalosporin, Aminoglycoside Antibiotics, Sulphonamides (Sulfamethoxazole, Trimethoprim), Azoles and Amphotericin B, Tetracycline (Doxycycline), Nitrofurans (Nitrofurantoin), Others) By Indication(Complicated Urinary Tract Infection, Uncomplicated Urinary Tract Infection) By Distribution Channel(Hospital Pharmacies, Gynecology and Urology Clinics, Drug Stores, Retail Pharmacies, Online Drug Stores) Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).

Key Players operating in the Global Urinary Tract Infection (UTI) Treatment Industry are

  • Allergan
  • Bayer AG
  • Pfizer, Inc.
  • GlaxoSmithKline plc
  • Bristol-Myers Squibb Company
  • Janssen Global Services, LLC
  • Lupin Ltd
  • Merck & Co., Inc.
  • Almirall, S.A
  • Dr. Reddy’s Laboratories Ltd.

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Global Urinary Tract Infection (UTI) Treatment Industry – Key Segments

By Drug Class:

  • Penicillin & Combinations
  • Quinolones
  • Cephalosporin
  • Aminoglycoside Antibiotics
  • Sulphonamides (Sulfamethoxazole, Trimethoprim)
  • Azoles and Amphotericin B
  • Tetracycline (Doxycycline)
  • Nitrofurans (Nitrofurantoin)
  • Others

By Indication:

  • Complicated
  • Uncomplicated

By Distribution Channel:

  • Hospital Pharmacies
  • Gynecology and Urology Clinics
  • Drug Stores
  • Retail Pharmacies
  • Online Drug Stores

By Region:

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

About the Healthcare Division at Future Market Insights

The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide.

With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Author

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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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Swivel Couplers Market: Anticipated 5.3% CAGR with a Target of US$ 584.87 Million by 2033

The Swivel Couplers Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Swivel Couplers market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Swivel Couplers. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The Swivel Couplers Market is gearing up for substantial growth, propelled by the upswing in construction activities and the expanding fabrication industry. With these sectors witnessing a surge in demand, swivel couplers are poised to become indispensable components in various construction and fabrication projects. Notably, the adoption of advanced production technologies in the manufacturing of swivel couplers is further fueling their rising usage. These factors collectively underscore the upward trajectory of the Swivel Couplers Market, making it a focal point in the realm of construction and fabrication.

The swivel couplers market is estimated to secure a valuation of US$ 348.96 million in 2023 and is predicted to reach US$ 584.87 million by 2033. The market is estimated to register a CAGR of 5.3% during the forecast period.

How does the Popularity of Swivel Couplers Drive the Construction Industry?

Swivel couplers play a significant role in the construction industry, and their popularity directly impacts various aspects of construction projects. Here are some ways in which the popularity of swivel couplers drives the construction industry:

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  • Enhanced Safety: Swivel couplers are widely used in scaffolding systems, crucial for providing a safe working platform for construction workers at elevated heights. Swivel couplers allow for the secure connection and rotation of scaffold tubes, enabling flexibility in adjusting angles and accommodating various construction requirements. By ensuring a stable and reliable scaffold structure, swivel couplers contribute to improved safety standards and help prevent accidents on construction sites.
  • Versatility and Adaptability: Swivel couplers offer versatility in connecting different types of scaffold tubes, such as steel or aluminum, and various diameters and thicknesses. This flexibility allows construction professionals to adapt scaffolding systems to different project requirements, whether constructing buildings, bridges, or other structures. The popularity of swivel couplers ensures that construction projects can be executed efficiently, regardless of the specific design or configuration needed.
  • Time and Cost Efficiency: Swivel couplers simplify the assembly and disassembly of scaffolding systems, reducing construction time and labor costs. Their ease of use enables construction workers to connect and disconnect scaffold tubes quickly, making scaffolding erection and dismantling more efficient. The popularity of swivel couplers has led to standardized designs and compatibility across different manufacturers, making it easier to source and utilize these components in construction projects.
  • Structural Integrity: Swivel couplers provide a strong and reliable connection between scaffold tubes, ensuring the structural integrity of scaffolding systems. This stability is crucial for supporting the weight of construction workers, tools, and materials during construction activities. The popularity of swivel couplers ensures that construction professionals can rely on these components to create robust and secure scaffold structures that comply with safety regulations and engineering standards.
  • Adaptation to Challenging Environments: Construction projects often involve working in challenging environments, such as uneven terrain or complex architectural designs. Swivel couplers allow scaffolding systems to be adjusted to suit these conditions. By accommodating changes in angles and alignments, swivel couplers enable the construction industry to overcome site-specific challenges and execute projects efficiently, even in difficult settings.

These are a few aspects that popularly drove the global market by 2033.

Key Takeaways: 

  • The swivel couplers market is estimated to capture a CAGR of 5.3% with a valuation of US$ 584.87 million by 2033.
  • The United States dominates the global market by capturing a maximum share by 2033.
  • The construction sector is leading the global market by registering a higher share during the forecast period.

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How Are Key Players Adding Values in the Global Market?

Key players are innovating improved and unique products in the global swivel couplers market by investing huge amounts in research and development activities. These players are launching new products as per consumers’ requirements. They provide high-quality, sustainable products to protect the environment by reducing carbon emissions.

Recent Developments in the Global Market are:

In 2021, Jeff Treanor announced its joining with XSF Xtreme Structures & Fabrication to expand its portfolio in the entertainment industry in America.

Swivel Couplers Market by Category

By Product Type:

  • Pressed Swivel Couplers
  • Forged Swivel Couplers
  • Others

By Load Capacity:

  • Up to 1100 lbs
  • 1100-2300 lbs
  • above 2300 lbs

By End Use:

  • Construction industry
  • Manufacturing & Fabrication industry
  • Water Works
  • Others

By Region:

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

About Us

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

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T: +1-845-579-5705
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Slitting Machine Market Poised for Robust Growth: 3.2% CAGR and US$ 682 Million Projection by 2032

The slitting machine Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the slitting machine market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for slitting machine. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2032. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The size of the global slitting machine market, which was US$ 498 million in 2022, is anticipated to grow to US$ 682 million by 2032, at a CAGR of 3.2%.

A slitting machine’s typical tasks include slitting paper, plastic film, and metal foils. Slitting soft material can be accomplished using circular or straight blades. A large roll is divided into several smaller rolls using two cylindrical rolls with matched grooves and ribs when working with hard materials like sheet metal.

In converters, slitting machines are frequently used. It is frequently employed in sectors where material coating, printing, and lamination take place. Slitting machines also offer maximum efficiency and are cost-effective. Additionally, the packaging industry uses the slitting machine to cut the plastic rolls into narrower rolls that are then used on the packaging equipment.

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Global slitting machine market: Dynamics

The key driving factor of the global slitting machine is increasing automation in packaging industry along with increasing health consciousness among consumers. The macroeconomic factors are driving the global slitting machine market such as growing economy, increasing per capita income and rapid rate of urbanization in emerging countries such as China, Brazil, Mexico, and India.

The growth of the global slitting machine market is driven by growing demand for slitting machine in metal cutting and increasing investments in the food industry. In addition, rapidly growing paper, as well as plastic industry, is also one the key driving factor to grow the slitting machine market across the globe.

The key restraining factor which restricts to grow the global slitting machine market is the safety regulations related to slitting machine market. Some of the factors trending the slitting machine market include mergers and acquisitions with local players as well as increasing the demand for high quality packaged food. In addition, technological advancement such as slitting machine which is embedded with touch screen PLC (Programmable Logic Controller) is the major trends of slitting machine market across the globe.

Global slitting machine market: Regional Outlook

Based on the geographies, the global slitting machine is segmented into seven regions globally such as North America, Eastern Europe, Asia-Pacific excluding Japan, Latin America, Western Europe, Japan and Middle East & Africa. Among above-mentioned regions, North America contributes high market share in the slitting machine across the globe followed by Western Europe, owing to rapidly growing food industry in this region.

Western Europe is predicted to contribute the significant share in global slitting machine market over the forecasted period, due to the highly growing packaging industry along with significant growth in the automotive industry in this region.

The Asia-Pacific excluding Japan region also captures for the significant share of the global slitting machine market with high growth rate, attributed to increasing per capita income, the rapidly growing population, along with highly growing steel industry in this region. Latin America is estimated to showcase a positive growth rate in the global slitting machine market, owing to robust growth in the steel industry and changing the life style of consumers in this region. The Middle East and Africa is estimated to witness high growth rate in global slitting machine market, attributed to high growth in the metal slitting industry in this region.

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The report covers exhaust analysis on:
• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

The regional analysis includes:
• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

Few associated players of global slitting machine market as follow:
• Dah Bah Machinery Industrial Inc.
• HCI Converting Equipment Co., Ltd.
• Universal Converting Equipment
• TTR EUROWORKS BV
• Euromac s.r.l.
• ASHE Controls Limited
• Yo Den Enterprises Co., Ltd
• Toray Engineering Co.,Ltd.
• Webcontrol Machinery Corp.
Key Segments Profiled in the Slitting Machine Market Survey
By Type:
• Roll/Log Slitter
• Slitter Rewinders

By Operation:
• Manual
• Automatic

By Material:
• Paper
• Foil
• Polymers
• Other

By Region:
• North America
• Latin America
• The Asia Pacific
• MEA
• Europe

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.

Contact Us :

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

Global Empty Capsule Industry Projected to Hit US$ 6,378.6 Million by 2034, Surging at an 8% Compound Annual Growth Rate

The Global Empty Capsule Industry is set to experience unprecedented growth, with projections indicating a market value of US$ 2,956.6 million in 2024, and a remarkable expansion at an 8% Compound Annual Growth Rate (CAGR) from 2024 to 2034, culminating in a market worth US$ 6,378.6 million by 2034.

The surge in demand for empty capsules can be attributed to the escalating frequency of chronic diseases and the increasing popularity of dietary supplements. Recognized as a swift and convenient method for drug consumption, empty capsules offer a hassle-free alternative, less prone to induce adverse effects compared to other dose forms.

Driving Factors Behind Surging Demand for Global Empty Capsule Industry

The primary drivers behind the surging demand for empty capsules are twofold. First, there is a noticeable uptick in the popularity of capsules as the preferred form of drug delivery. This shift is further accentuated by the increasing consumption of various medications. Secondly, as the global burden of chronic diseases continues to escalate, the demand for effective therapeutics is expected to surge, presenting lucrative opportunities for suppliers of empty capsules.

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A Promising Future for the Global Empty Capsules Industry

In summary, the future of the Global Empty Capsules Industry appears incredibly promising, with robust growth prospects anticipated in the years ahead. Key industry players operating in the market are well-positioned to benefit from this trend, provided they adapt to evolving consumer preferences and invest in product innovation to maintain a competitive edge.

Empty capsules are known as protective shells for drugs designed from special film-forming materials such as gelatin, starch, and pullulan. Being innovative drug delivery products, they are utilized by leading pharmaceutical and biopharmaceutical companies due to their various attractive features. Such capsules are economical, oxidation resistant, offer maximum flexibility, and are easy to use on account of their smooth and slippery nature. Furthermore, they are especially suitable for substances having a bitter taste and unpleasant odor.

Global Empty Capsule Industry  Key Takeaways

  • Unprecedented Growth: The global empty capsule market is projected to reach a significant value of US$ 2,956.6 million in 2024, with a compelling 8% Compound Annual Growth Rate (CAGR) expected from 2024 to 2034, ultimately reaching US$ 6,378.6 million by 2034.
  • Rising Demand Due to Chronic Diseases: The increasing prevalence of chronic diseases worldwide is a major driving force behind the surge in demand for empty capsules. These capsules offer an efficient and convenient method for drug consumption, catering to the needs of patients and healthcare providers alike.
  • Popularity of Dietary Supplements: The industry is experiencing a spike in demand, driven by the growing popularity of dietary supplements. Empty capsules are recognized as a preferred choice for the delivery of supplements, contributing to the overall growth of the market.
  • Ease of Use and Reduced Side Effects: Empty capsules provide a quick and easy means of drug consumption and are less likely to induce negative effects compared to other dose forms. This inherent advantage is further propelling the increased adoption of empty capsules in the pharmaceutical and healthcare sectors.
  • Paradigm Shift in Drug Formulation: As the market expands, there is a noticeable shift in the pharmaceutical and nutraceutical sectors towards embracing the benefits of empty capsules for drug formulation. This shift indicates a changing landscape in the way drugs are developed and delivered.
  • Strategic Implications for Stakeholders: Stakeholders in the pharmaceutical and healthcare sectors are advised to recognize and adapt to the dynamic landscape of the empty capsule market. With a projected market value of US$ 6,378.6 million by 2034, staying informed about industry trends and innovations is crucial for staying competitive.
  • Transformative Journey Ahead: The global empty capsule market is on the verge of a transformative journey, and industry players should proactively position themselves to capitalize on the opportunities presented by this substantial growth in the coming decade.

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Global Empty Capsule Industry  Competitive Landscape

The Global Empty Capsules Industry is known to be highly competitive in nature attributed to the presence of leading empty pill manufacturers that account for over 70% of the global market share. Prominent market players are constantly focusing on introducing new products designed out of innovative materials. In addition to that, they are adopting growth strategies such as partnerships, mergers, acquisitions, etc. to expand their global footprint.

List encompassing key players operating in the Global Empty Capsules Industry

  • ACG Worldwide
  • Capsugel
  • Qualicaps Inc.
  • Bright Pharma Caps Inc.
  • Sunil Healthcare Ltd.
  • CapsCanada Corporation
  • Roxlor LLC
  • Snail Pharma Industry Co. Ltd.
  • Suheung Co. Ltd.
  • Medi-Caps Ltd

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Key Segments of Empty Capsules Industry Survey

Capsule Size:

  • Size “000” Empty Capsules
  • Size “00” Empty Capsules
  • Size “0” Empty Capsules
  • Size “1” Empty Capsules
  • Size “2” Empty Capsules
  • Size “3” Empty Capsules
  • Size “4” Empty Capsules
  • Size “5” Empty Capsules

Product Type:

  • Gelatin (Hard)-based Capsules
  • Vegetarian-based Capsules

Route of Administration:

  • Empty Capsules for Oral Administration
  • Empty Capsules for Inhalation

Raw Material:

  • Contract Type-A (Pork Skin) Empty Capsules
  • Type-B Gelatin (Animal Bones & Calf Skin) Empty Capsules
  • Fish Bone Gelatin Empty Capsules
  • Empty Hydroxy Propyl Methyl Cellulose (HPMC) Empty Capsules
  • Starch Material Empty Capsules
  • Empty Pullulan Capsules

End User:

  • Empty Capsules for Pharmaceutical Companies
  • Empty Capsules for Cosmetic & Nutraceutical Companies
  • Empty Capsules for Clinical Research Organizations (CROS)

Author

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 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
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Wearable Medical Devices Industry to Surge at 28.1% CAGR, Projected to Reach US$ 73.48 Billion by 2032, According to FMI Analysis

The Global Wearable Medical Devices Industry is set to witness unprecedented growth, projecting a market valuation of US$ 27.29 Billion by 2022 and accelerating with a notable CAGR of 28.1% from 2022 to 2032, according to the latest report by Future Market Insights Inc.

The wearable medical devices market is on an upward trajectory, with an anticipated valuation of approximately US$ 73.48 Billion by 2032. This remarkable expansion is driven by the convergence of cutting-edge technologies, primarily 5G and Artificial Intelligence (AI).

One of the groundbreaking applications of these technologies is the identification of a patient’s likely diagnosis and treatment options. The synergy between 5G and AI empowers healthcare providers to predict potential complications post-surgery, enabling timely and preventative actions. Real-time learning from vast datasets, facilitated by high-throughput networks, is revolutionizing patient care and treatment strategies.

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The Global Wearable Medical Devices Industry is expanding. Individuals who typically purchase such items are open to new experiences and ideas. The increasing number of early adopters and innovators in developed and developing nations is anticipated to boost sales of wearable medical devices.

The increasing demand for novel health monitoring techniques among athletes and fitness buffs is anticipated to propel the Global Wearable Medical Devices Industry. An appreciable fraction of persons in the US and Canada are early adopters. So, the demand for wearable medical devices in North America is anticipated to expand.

Therapeutics, monitoring and diagnostics, fetal and obstetric monitoring, cardiovascular monitoring, and glucose monitoring are just a few of the many uses for wearable medical devices. Therapeutic medical gadgets patients can wear are expected to dominate in this category. The FMI analysis predicts that by 2025, the market share of therapeutic medical devices that can be worn will exceed 50%. Among the many lifestyle-related conditions, lung problems, diabetes, and hearing loss contribute to this. During the evaluation phase, we don’t expect this tendency to reverse.

Improvements in both design and technology have boosted sales of wearable medical devices in recent years. However, adoption rates in the business continue to be challenged by several variables. The initial investment and ongoing upkeep of wearable technology might be costly for many people. Among other components, sensors, batteries, and chips failure often necessitates frequent maintenance and repair and slows consumer acceptance.

Additionally, several nations do not supply enough medical wearable reimbursement options for their citizens. Because of this, sales of wearable medical devices are expected to stagnate in developed and developing nations.

Global Wearable Medical Devices Industry Key Takeaways:

  • The wearable medical devices market is anticipated to reach a valuation of US$ 73.48 billion by 2032.
  • North America contributed 38.1% of global revenue in 2020 because of rising rates of cardiovascular disease, diabetes, and cancer.
  • Market growth is anticipated due to the increased use of wearable devices for health management during COVID-19.
  • The rising prevalence of target diseases due to an aging population and the need to minimize healthcare spending are driving the wearable medical device market.

“Wearable medical, portable, and smart devices offer continuous monitoring and tracking of vital health metrics, empowering individuals to take charge of their well-being and transforming the way healthcare is delivered and managed,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

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Global Wearable Medical Devices Industry Competitive Landscape:

Although the Global Wearable Medical Devices Industry is somewhat concentrated, a handful of industry giants control most sales. These businesses invest heavily in researching and developing new items, followed by careful timing in releasing such products to the market.

Companies that now dominate the Global Wearable Medical Devices Industry focus on diversifying their growth strategies, such as forging strategic partnerships, merging with other businesses, and expanding their product lines.

Global Wearable Medical Devices Industry Key Players:

  • Medtronic plc
  • Siemens AG
  • Fitbit Inc.
  • Bayer AG
  • Panasonic Corporation
  • Animas Corporation – Johnson and Johnson
  • Smiths Medical – A Smiths Group Company
  • Koninklijke Philips N.V.
  • Owlet Baby Care
  • OMRON Corporation
  • Hoffmann-La Roche Ltd and Rest Devices Inc.

Key Developments:

  • In April 2021, Alvalux Medical, a Belgian MedTech wearables manufacturer, announced that it had been granted a second patent by the United States Patent and Trademark Office for its new ocular insert device, which is intended to allow patients to treat retinal disorders at home through photo-biomodulation (PBM) therapy.
  • As an additional comfort measure, 3M has announced the creation of a novel silicone adhesive material with conformable and breathable properties that is expected to be used in wearable medical devices to reduce the amount of skin that must be removed.
  • In March of 2021, EOFlow, a provider of wearable drug delivery solutions, announced the release of a new smartphone application designed to be used in tandem with wearable insulin delivery devices.

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Global Wearable Medical Devices Industry by Segmentation:

By Product:

  • Wearable Monitoring and Diagnostic Devices
  • Fetal and Obstetric Devices
  • Wearable Fetal Monitors
  • Infant Motion Sensing Monitors
  • Continuous Glucose Monitoring Devices
  • Cardiac Monitoring Devices
  • Wearable Heart Rate Monitors
  • Wearable Pulse Oximeters
  • Wearable Blood Pressure Monitors
  • Wearable Therapeutic Medical Device
  • Hearing Aid
  • Insulin Pump
  • Respiratory Therapy Devices
  • Sleep Apnea Devices
  • Non-invasive Ventilation
  • Health and Fitness Devices

By Application:

  • Patient Monitoring
  • Home Healthcare
  • Health and Fitness

By Distribution Channel:

  • Hospital Pharmacies
  • Clinics
  • Online Channels
  • Hypermarkets

By Region:

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

Author:

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.

Explore FMI’s related ongoing Coverage in the Healthcare Domain

Portable Medical Devices Market Size: The global portable medical devices market is projected to expand at a CAGR of 10.7% during the forecast period. The market is estimated to generate market revenue of US$ 163.84 billion by 2033, increasing from US$ 59.28 billion in 2023.

Wearable Medical Robots Market Share: The global wearable medical robots market was valued at around US$ 239.3 Million at the end of 2021. The market is projected to register a 17.6% CAGR and top a valuation of US$ 1,423.7 Million by 2032.

Diabetes Care Devices Market Demand: The global diabetes care devices market size is projected to be valued at US$ 9.7 Billion in 2022 and is anticipated to reach US$ 17.87 Billion by 2032, with a rapid CAGR of 6.3% from 2022 to 2032.

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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Global Electronic Medical Records (EMR) Industry Set to Soar with a 6.2% CAGR, Anticipated to Reach US$32.3 Billion by 2033, Reveals FMI Insights

The Global Electronic Medical Records (EMR) Industry is experiencing an extraordinary trajectory of growth, poised to achieve a staggering valuation of US$32.3 billion by the year 2033, as projected by FMI Insights. This marks a significant surge from the US$17.6 billion valuation recorded in 2023, showcasing an impressive Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period.

This remarkable expansion underscores the escalating adoption of electronic medical records (EMR) across the healthcare landscape, revolutionizing the way patient information is documented, managed, and utilized.

As the healthcare industry seeks scalable solutions to meet evolving demands, numerous healthcare providers are opting for electronic health records as a software-as-a-service (SaaS) model. This approach ensures seamless integration, improved data accessibility, and greater operational efficiency, contributing to the market’s overall momentum.

The future of healthcare is being reshaped by EMR systems, providing comprehensive, secure, and accessible patient data management. As the industry continues to evolve, the global EMR market is poised to play a pivotal role in enhancing healthcare delivery and

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The market is expanding as a result of an increase in the number of benefits, including lower infrastructure and maintenance expenses, lower license and start-up costs, and greater accessibility. Improved productivity and quicker, simpler adoption are two benefits of cloud-based EMR solutions. The application is incredibly scalable because of its cloud-based architecture (pay-as-you-go storage utilization). It removes departmental silos of healthcare data to streamline and consolidate storage resources to reduce costs and boost efficiency.

Large, well-known firms are starting to enter the cloud sector. To maintain the level of patient care, the cloud infrastructure also provides real solutions for business continuity and disaster recovery. As a result, it is anticipated that the market for cloud-based EMR will expand dramatically. To give medical staff relatively easy access to patient records, the digital revolution in healthcare is essential. During the projection period, it is predicted that the growing need for systems and software that connect hospitals, clinics, and other healthcare facilities will become a growth driver.

A greater emphasis is placed on strategic partnerships between leading suppliers of electronic medical record solutions as market rivalry intensifies. Additionally, it is projected that the constantly growing need for knowledge sharing and technology upgrades to improve healthcare efficiency will foster partnerships between important actors.

Key Takeaways from the Electronic Medical Records (EMR) Industry

The US electronic medical records (EMR) market is anticipated to expand at a CAGR of 6% over the forecasted period.
By 2033, it is anticipated that the cost of implementing electronic medical records (EMR) in the US will surpass US$ 18.4 Bn.
The UK electronic medical records (EMR) industry is anticipated to expand at a CAGR of 8.4% throughout the anticipated time frame.
By 2033, the UK’s sales of electronic medical records (EMR) systems are anticipated to surpass US$ 1.6 billion.
The market for electronic medical records (EMR) in India is anticipated to expand at a CAGR of 8.2% over the forecasted period.
By 2033, the Indian market for electronic medical records (EMR) is anticipated to reach more than US$ 255.0 Mn.
In 2021, the market for electronic medical records (EMR) was dominated by cloud-based EMRs, which accounted for more than 50.0% of total revenue.
Hospital electronic medical records (EMR) are expected to increase at a CAGR of 6.4% throughout the forecast period as a result of rising pandemic and epidemic infections, as well as the requirement for global vaccination against a wide range of diseases.

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Who is Winning?

According to Future Market Insights (FMI), top EMR solution providers are building alliances with the local healthcare system, engaging in mergers and acquisitions, and bolstering their distribution networks to develop and explore the underdeveloped markets of Asia and Latin America. To break into middle-income and emerging markets, market companies are also concentrating on raising awareness, lowering the price of EMR software and related services, and fusing EMR with contemporary technologies.

Microsoft Corp. acquired Nuance Communications, Inc. in April 2021 to empower healthcare providers with the power of ambient clinical intelligence and other Microsoft cloud services.
Capital Health, a regional leader in providing cutting-edge, high-quality patient care, introduced a new electronic health record (EGR) in the acute care divisions of both of its hospitals in February 2021 to better serve its patients.
The “Patient” database personal health record (PHR) of the patient will now be able to safely transfer the patient’s existing health records from the “Patient” database onto the Apple Health app, according to a May 2021 announcement from DrChrono. This should simplify the procedure and make it easier to access medical data more quickly.

Key Segments Covered in Electronic Medical Records (EMR) Industry Study

By Product Type:

  • Hospital EMR
  • Ambulatory EMR

By Component:

  • EMR Software
  • EMR Services

By Application:

  • Client Server Setup EMR
  • Hybrid Server Setup EMR
  • Cloud Based EMR

By End User:

  • Hospitals
  • Specialized Clinics
  • General Physician Clinics
  • Ambulatory Surgical Centers

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Author

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 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
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Peptide Therapeutics Industry Charts a Steady Course with 10.8% CAGR, Eyes a Lucrative US$106 Billion Market by 2033 | FMI

The Global Peptide Therapeutics Industry has reached an astounding valuation of US$38 billion in 2023, and with a projected compound annual growth rate (CAGR) of 10.8%, it is set to soar to an impressive US$106 billion by 2033. This unprecedented growth is a testament to the industry’s resilience and potential within the global pharmaceutical landscape.

Peptide therapeutics currently hold a dominant position, constituting 53.7% of the global drug discovery market. The Asia Pacific region, in particular, has emerged as a hotbed for rapid development and adoption of peptide-based drugs, contributing significantly to the industry’s upward trajectory.

The surge in valuation underscores the escalating significance of peptide therapeutics, driven by cutting-edge research, innovation, and an increasing demand for precise and effective treatment options. As the industry continues to advance, it not only meets the evolving needs of the healthcare sector but also paves the way for groundbreaking developments in drug discovery and targeted therapies.

Peptide medicines have been used to treat metabolic illnesses for more than a century. Peptide drugs offer numerous advantages over tiny chemical compounds, resulting in huge demand across geographies.

Here are some of the key advantages of Global Peptide Therapeutics Industry:

  • They are highly specific and have fewer side effects than chemical compounds.
  • They can be delivered orally, nasally, or topically, which makes them more convenient to administer.
  • They are more stable in the body and have a longer half-life than chemical compounds.

Further, peptide therapeutics can be a preferred alternative to small molecule and biological therapeutics. All of these factors have led to an upsurge in research and investments in peptide drug recovery over the last ten years and are expected to bode well for the future prospects of the market.

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Again, surging incidences of metabolic disorders and the high prevalence of cancer propel the demand for investments in research and development activities in the field of peptide therapies. These illnesses are the prime cause of death and disability all over the world. As a result, there is a greater demand for the development of peptide therapeutics. Peptide-based drug delivery for cancer cells coupled with enhancements in the next-generation therapeutics will presumably supplement the market expansion of peptide therapeutics. In addition to this, there’s a rise in interest in therapeutic peptide research due to commercial reasons. Thus, it is presumed that peptide drug recovery will play a crucial role in the healthcare industry.

“Heightened application of peptides in the treatment of diabetes and cancer will likely augment the sales of peptide therapeutics in the global market over the forecast period,” says an FMI analyst.  

Global Peptide Therapeutics Industry Key Takeaways:

  • The popularity of oral peptide-based drugs generates attractive market opportunities.
  • Peptide-based therapeutics will continue to gain momentum in Cosmeceuticals.
  • Government support to aid market growth in North America.
  • India will offer various lucrative opportunities to the peptide therapeutics industry.
  • Based on the route of administration, the parenteral route segment will continue to gain preference during the assessment period.

Global Peptide Therapeutics Industry Competitive Landscape:

Eli Lilly and Company, AstraZeneca plc, Merck & Co., Inc., Ipsen S.A, Novo Nordisk A/S, and Teva Pharmaceutical Industries Ltd., among others, are some of the major players in the peptide therapeutics industry that are profiled in the full version of the report.

In a moderately competitive market, major players are concentrating on market expansion activities. These organizations are engaging in distribution agreements, white space exploration, and collaborative ventures. The more established businesses are focusing on working with local players to expand their production capacities and improve their regional presence.

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More Insights into the Global Peptide Therapeutics Industry Report

In its latest report, FMI offers an unbiased analysis of the global peptide therapeutics industry, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2025. To understand the global market potential, growth, and range, the market is segmented based on application (cancer, cardiovascular diseases, central nervous systems, metabolic disorders, infections, hematological disorders, gastrointestinal disorders, dermatology, respiratory disorders, acromegaly, other applications), route of administration (parenteral route of administration, mucosal route of administration, oral route of administration, transdermal route of administration), drug type (branded drugs, generic/ biosimilar drugs), and region.

According to the latest FMI reports, based on region, the peptide therapeutics market in North America is expected to dominate the market over the forecast period. A surge in government investments as well as an increase in industry spending on research and development activities in peptide therapeutics is driving the regional market growth. This market is further supported by the target market expansion in the United States.   Owing to the high prevalence of cancer along with increasing research and development activities, the U.S. peptide therapeutics market is expected to witness impressive growth over the forecast period.

In India, the peptide therapeutics industry is anticipated to gain many profitable future prospects. The rising adoption of synthetic peptide drugs in India is likely to propel the market growth in this region. Rising incidences of chronic illnesses and an aging population also contribute to market growth.

Based on the segmentation, based on the route of administration, the parenteral route will continue to gain momentum over the forecast period.

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Global Peptide Therapeutics Industry Key Segments:

By Application:

  • Cancer
  • Cardiovascular Diseases
  • Central Nervous Systems
  • Metabolic Disorders
  • Infections
  • Hematological Disorders
  • Gastrointestinal Disorders
  • Dermatology
  • Respiratory Disorders
  • Acromegaly
  • Other Applications

By Route of Administration:

  • Parenteral Route of Administration
  • Mucosal Route of Administration
  • Oral Route of Administration
  • Transdermal of Route Administration

By Drug Type:

  • Branded Drugs
  • Generic/Biosimilar Drugs

Author

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 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
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Bone Growth Stimulators Industry Gears Up for 10.1% CAGR Triumph, Targeting US$ 5.4 Billion in Market Value by 2033

The Global Bone Growth Stimulators Industry is poised for a remarkable journey of growth, with a predicted market value of US$ 2.1 billion in 2023, set to soar to an impressive US$ 5.4 billion by 2033. This surge is underlined by a substantial Compound Annual Growth Rate (CAGR) of 10.1%, according to the latest insights from Future Market Insights Inc.

The driving force behind this phenomenal expansion is the escalating incidence of overall fracture injuries globally. The demand for Bone Growth Stimulators is expected to witness a significant upswing, propelled by the imperative need for effective solutions in the rehabilitation and treatment of fractures.

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A bone growth stimulator’s best advantage is that it accelerates the entire process of bone healing, resulting in faster recovery, shorter hospitalization, higher cost-effectiveness, and fewer infections.

According to a recent study conducted by the International Osteoporosis Foundation, statistics revealed that more than 200 million people are suffering from osteoporosis. Worldwide, 1 in 3 women over the age of 50 years and 1 in 5 men will experience osteoporotic fractures in their lifetime. These numbers are anticipated to increase at a fast pace in the assessment period, therefore, bolstering the demand for Bone Growth Stimulators worldwide.

Global Bone Growth Stimulators Industry Key Takeaways

  • Because of an aging population, rapid economic expansion in growing Asia-Pacific (APAC) countries, and an increase in the volume of spine surgeries, the Bone Growth stimulants market in numerous Asia-Pacific countries is likely to grow rapidly over the forecast period.
  • India is predicted to be the fastest-growing market in APAC, with a CAGR of 11.4%. Growth will be fueled by improvements in the country’s healthcare landscape.
  • The US market for Bone Growth Stimulators is estimated to exceed US$ 2.2 billion by 2033.
  • With a rise in medical tourism and a growing demand for less invasive procedures, the United Kingdom is expected to dominate the European Bone Growth Stimulators market in the next years. Sales are expected to account for 20.4% of the global market in 2022.
  • The hospital segment is estimated to be valued at more than US$ 743 million by 2028.

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Global Bone Growth Stimulators Industry Competitive Landscape

The prominent players operating in the Global Bone Growth Stimulators Industry are extensively investing in research and development activities to launch innovative and technologically advanced products that cater to an expanding customer base. In addition to that, dominant market players are heavily investing in mergers, acquisitions, collaborations, and partnerships to strengthen their distribution networks.

Some of the leading companies operating in the Global Bone Growth Stimulators Industry are

  • Zimmer Biomet Holdings Inc
  • Bioventus LLC.
  • DJO Global, Orthofix Holdings, Inc.
  • Ossatec Benelux Ltd.
  • IGEA
  • Ito Co., Ltd.

More Insights into the Global Bone Growth Stimulators Industry

The US is expected to dominate the North American region by garnering maximum sales in the Global Bone Growth Stimulators Industry. The global market is anticipated to account for about 42.5% of the total market share in 2022. According to the CDC, around 1 out of every 4 US adults (23.7%, 58.5 million people) suffer from diagnosed arthritis. The incidence of arthritis and osteoarthritis is predicted to grow in the forthcoming years, which in turn will propel the demand for electrical Bone Growth Stimulators over the assessment period.

The UK is predicted to dominate the European Bone Growth Stimulators market in the forthcoming years, as it accounts for around 20.4% of the total market share in 2022. The growth is attributed to the growing preference for minimally invasive procedures and the rising popularity of medical tourism in the country.

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Global Bone Growth Stimulators Industry by Category

Product Type:

  • Non-Invasive Bone Growth Stimulators
  • Capacitive Coupling (CC) Devices
  • Pulsed Electromagnetic Field (PEMF) Devices
  • Combined Magnetic Field (CMF) Devices
  • Ultrasound Bone Growth Stimulators
  • Invasive Bone Growth Stimulators

Application:

  • Trauma Injury and Fractures
  • Spinal Fusion
  • Osteogenesis

End User:

  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers
  • Homecare settings

Author

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 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
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Laboratory Information System Industry Eyes a Prosperous Future with a CAGR of 5.3%, Targeting US$ 3,620.3 Million by 2034 | FMI

The Global Laboratory Information System Industry is poised for robust growth, showcasing a remarkable year-on-year surge of 6.0%. According to the latest analysis by Future Market Insights Inc., the market is expected to reach a substantial valuation of US$ 2,166.3 million by the end of 2024.

This outstanding growth is attributed to a confluence of factors, including technological advancements, rising demand for efficient data management in laboratories, and an ever-expanding healthcare industry. The Laboratory Information System (LIS) market has become a cornerstone in enhancing operational efficiency, data accuracy, and overall laboratory performance.

Looking ahead, the market is projected to sustain its momentum with an anticipated Compound Annual Growth Rate (CAGR) of 5.3% over the next decade. By 2034, the global laboratory information system market is forecasted to attain an impressive valuation of US$ 3,620.3 million, signaling a continuous upward trajectory.

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Germany dominates the European market for laboratory information systems, having accounted for a 28.2% market share in 2014, followed by France. The UK is expected to become a major market for laboratory information systems (LIS) in the coming years.

The European laboratory information systems market is segmented based on products, types, components, delivery modes, end users, and countries. The product segment is divided into standalone LIS and integrated LIS. The types included in the report are clinical LIS and anatomical LIS. The components covered in the report are services and software. On-premise, remotely hosted, and cloud-based are delivery modes discussed in the report. The end users’ segment is further classified into clinical diagnostic laboratories, hospitals, anatomical pathology laboratories, blood banks, and molecular diagnostic laboratories. Countries such as Germany, Italy, Spain, the U.K., and France would experience tremendous growth.

The European Commission’s new framework, Horizon 2020 has been the largest ever research and innovation programme in Europe for various fields including life sciences with a budget of $95 billion (€77 billion) from 2014-2020. In October 2017, The European Commission announced its plans to invest $37 billion (€30 billion) in this fund during 2018-2020 including $2.5 billion (€2 billion) to support Open Science, and $740 million (€600 million) for the European Open Science Cloud, European data infrastructure and high-performance computing. Horizon 2020 opened funding opportunities for future and emerging technologies and the ICT Work Programme for life science researchers. Thus, increasing R&D activities and government funding will ultimately boost the demand for effective data management and hence drive the laboratory informatics market in Europe.

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Global Laboratory Information System Industry Key Takeaways

  • Impressive Growth Trajectory: The global laboratory information system market is experiencing a substantial year-on-year growth of 6.0%, reaching a projected valuation of US$ 2,166.3 million by the end of 2024. This surge is indicative of the market’s vitality and potential.
  • Continuous Evolution with Technology: Technological advancements play a pivotal role in driving the adoption of laboratory information systems. The market is witnessing a transformation with cutting-edge technologies, enhancing operational efficiency and data accuracy in laboratories.
  • Rising Demand for Efficient Data Management: Laboratories are grappling with vast amounts of data, necessitating sophisticated information systems for efficient management. The demand for robust laboratory information systems is on the rise as organizations recognize the importance of streamlined processes and organized data.
  • Healthcare Sector as a Key Contributor: The expanding global healthcare industry is a significant catalyst for the laboratory information system market. These systems are becoming indispensable in supporting diagnostic and research activities, aligning with the growing needs of the healthcare sector.
  • Projected CAGR of 5.3% for the Next Decade: Looking ahead, the market is poised for sustained growth with a projected Compound Annual Growth Rate (CAGR) of 5.3% over the next decade. By 2034, the laboratory information system market is anticipated to achieve a noteworthy valuation of US$ 3,620.3 million.

Competitive Landscape from the Global Laboratory Information Systems Industry:

Top companies in the Global Laboratory Information Systems Industry are constantly releasing new products to increase their market share. They are bolstering their global reach through mergers, partnerships, and acquisitions.

Recent Developments in the Global Laboratory Information Systems Industry:

In September 2022, McKesson Corporation signed an agreement in principle to extend its partnership with CVS Health to distribute pharmaceuticals to mail-order and specialty pharmacies, retail pharmacies, and distribution centers through June 2027.

Global Laboratory Information Systems Industry  Key Companies Profiled: 

ECerner Corp, Evident, McKesson, Medical Information Technology, Epic Systems Corporation, SCC Soft Computer, Roper Technologies Inc., CompuGroup Medical, and LabWare

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Key Segments Covered in the Global Laboratory Information Systems Industry Analysis

By Components:

  • Software
  • Hardware
  • Services

By Delivery Mode:

  • On-Premise
  • Cloud-Based

By End User:

  • Hospitals
  • Clinics
  • Independent Laboratories
  • Others

Author

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 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
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Global Companion Animal Drugs Industry Set to Reach US$ 59.2 Billion by 2033, FMI Analysis Reveals 4.4% CAGR | FMI

The Global Companion Animal Drugs Industry is embarking on an impressive growth journey, with projections indicating a robust 4.4% Compound Annual Growth Rate (CAGR). By 2033, the industry is anticipated to achieve a substantial market valuation of US$ 59.2 billion, a significant leap from the US$ 36.7 billion recorded in 2022.

Companion animals, including beloved pets such as dogs, cats, and horses, are integral members of countless families worldwide. The thriving market for companion animal medications underscores the commitment to ensuring their health and well-being. These essential medications are tailored to safeguard pets from infections and various health concerns.

Behind the scenes, companion animal veterinarians emerge as key players in administering these medications. Their expertise is crucial in facilitating the speedy recovery of pets post-surgery, diagnosing and treating ailments, and maintaining overall well-being.

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Increasing Urbanization and Growing Affluence in Developing Countries to Benefit the Market
Increasing urbanization level and growing affluence, especially in developing countries, have been driving the adoption of pets, thus leading to increased demand for healthcare products for pets such as companion animal drugs. Continued urbanization has also resulted in the increasing prevalence of various diseases such as allergies, lower appetite, reduced energy, and behavioral anxieties among small companion animals. This has been driving the demand for innovative classes of medicines such as companion animal drugs.

Upcoming Therapeutic Innovations in Pet Care to Aid Market Growth
Besides traditional drugs, animal health companies have also been investing in smart diagnostic care to help prevent diseases before their actual onset. Companies are also trying to develop generic capabilities to demonstrate bioequivalence to reference prescription drugs in the companion animal drugs market, as many key drugs no longer benefit from intellectual property protection. The development of new vaccines and medications for animals are expected to support the growth of the companion animal drugs industry over the forecast period.

Increasing R&D activities and shorter drug-lifecycle are playing an important role in the growth of the companion animal drugs industry. Innovations in companion animal drugs are easier and sustainable for a longer period, while R&D cycle time are shorter (~ three years) in the Companion Animal Healthcare (CAH) industry as compared to human health, ranging between seven and 15 years for other drugs. This increases return on investment in companion animal drugs and leads to faster profits for the market players.

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Collaborative Ventures to Promote the Global Companion Animal Drugs Industry Growth
Collaborative ventures such as One Health promote the unification of veterinary and medical sciences, leading to better disease surveillance, control, and education, especially for companion animals such as dogs and cats. One Health venture enables the identification of alteration in infection traveling patterns. The patterns are changing mostly in the case of parasites due to changes in climate and increasing host-vector interactions. Some organizations helping in the monitoring of One Health in companion animals are the Companion Animal Parasite Council and European Scientific Counsel Companion Animal Parasites.

Such ventures are expected to complement the growth of the companion animal drugs market.

Low Awareness of Animal Diseases to Hamper the Global Companion Animal Drugs Industry Growth
In many developing countries, people lack awareness regarding certain serious companion animal diseases as opposed to livestock diseases, which are more regularly monitored. This is primarily true about pet vaccinations, which is a mandatory requirement for up to three years. Additionally, parasitic medications for companion animals and livestock are different. Lack of awareness with regards to the differentiation of these medication varieties leads to adverse drug side effects and thus low administration of companion animal medications. Such factors are likely to create a hindrance in the growth of the companion animal drugs market.

Also, the majority of animal healthcare drugs have limited scope for patent extension, primarily due to drug portfolios dominated by drugs that have crossed maturity, which in turn is expected to deter the growth of the companion animal drugs industry over the forecast period.

Key Players in the Global Companion Animal Drugs Industry:

  • Zoetis Inc.
  • Merck & Co, Ltd.
  • Bayer AG
  • Elanco
  • Boehringer Ingelheim GmbH (Merial)
  • Virbac Animal Health
  • Ceva Santè Animale

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Key Segments Covered in Global Companion Animal Drugs Industry Research

Product:

  • Antibiotics
  • Anti-inflammatory
  • Parasiticides
  • Heartworm
  • Behavioral Products
  • Nutritional Products
  • Skin Care Products
  • Vaccines

Distributional Channel:

  • Veterinary Hospitals
  • Veterinary Clinics
  • Pharmacies and Drug Stores

Author

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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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