Market Research Blog – Page 3730 – New Product Development

Phytochemical Market Analysis by Regions, Types, Applications and Key Companies Contribution 2023-2033

Estimates project a substantial rise in worldwide phytochemical sales, reaching US$ 7,436 million in 2023. A comprehensive industry analysis foresees the global phytochemical market surging at a robust CAGR of 7.1%, poised to attain US$ 14,821 million by 2033.

Diverse applications of phytochemicals are anticipated to fuel growth across various end-use sectors such as food and beverages, nutraceuticals, and pharmaceuticals. By 2033, the food and beverage segment is expected to dominate significantly, while animal nutrition sales are projected to witness a notable increase of 13.4%.

In the nutraceutical industry, the demand for phytochemicals and plant extracts is on the rise, utilized as health supplements and anti-aging agents. This heightened demand reflects a growing trend in the use of phytochemicals in dietary supplements, indicating substantial future growth.

Increasing awareness regarding the detrimental effects of chemically processed foods is likely to boost the popularity of plant extracts and ingredients. However, challenges such as raw material shortages, fluctuating prices, trade dynamics, and the availability of alternative plant-derived products present constraints to the market’s expansion.

Crucially, it’s worth noting that phytochemicals and herbal extracts are directly derived from crude plant materials, showcasing significant variations in composition, quality, and therapeutic effects. The recent surge in traditional medicine consumption, particularly Ayurveda, has unexpectedly propelled the utilization of natural plant ingredients in Ayurvedic manufacturing.

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“Phytochemicals are products derived from organic plants and are used in the manufacturing of organic food and supplement manufacturing. The nutraceutical industry has seen an increase in demand for phytochemicals and plant-based products due to the growth in organic agriculture.” – says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

The phytochemical market is expected to record a CAGR of 7.1% over the forecast period.
It is estimated that the phytochemical market in North America may remain strong during the forecast period.
The phytochemical market of Germany is estimated to be valued at US$ 468.8 million by 2033.
The United Kingdom is predicted to thrive at a CAGR of 2.8% due to the rising trend of ‘veganism’ and ‘vegetarianism’.
Powder phytochemical product type is estimated to account for more than 82% of the market share in 2023 with a CAGR of 6.7%.
Flavonoids are estimated to account for more than 35.0% of the market share in 2023 with a CAGR of 8.8%.

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Competitive Landscape:

In the phytochemical market, intense competition has resulted from the growing demand for nutritional supplements and the emergence of new players. In a market that focuses more on innovation than sales, small-scale players are creating growth opportunities.

Small-scale companies are merging with substantial companies to offer their products to a broader consumer base and include innovative products in their product portfolios.

Several prominent companies dominate this market, including Döhler GmbH, Naturex SA, Kemin Industries Inc, Linnea SA, Sabinsa Corporation, Kothari Phytochemicals & Industries Ltd, Indena SpA, Alkaloids Corporation, Arboris LLC, Allied Biotech Corp., Organic Herb Inc. (OHI), LIPO Foods, Nektium, FYTEXIA, Chr. Hansen Holding A/S, BASF SE, and others.

Recent Developments:

Cargill acquire Delacon, a producer of photogenic chemicals derived from plants, in 2022. Through the acquisition, the company plans to manufacture nutrient-dense foods and gain a deep understanding of feed additives.
An exclusive and long-term supply agreement was signed between BASF and Mazza Innovation in July 2018. The company Mazza Innovations specializes in botanical extractions. In order to develop new solutions for cosmetic applications, the company supplies BASF with specific plant extracts.

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Market Segmentation by Category

By Molecule Type:

Alkaloids
Anthocyanins
Carotenoids
Coumestans
Flavon-3-ols
Flavonoids
Hydroxycinnamic Acids
Isoflavones
Lignans
Others

By Form:

Powder
Liquid

By Application:

Food and Beverages
Nutraceutical
Pharmaceutical
Personal Care and Cosmetics
Animal Nutrition
Others

By Region:

North America
Latin America
Europe
The Middle East and Africa
East 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 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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Central Venous Catheter Market Ascends with Unprecedented Revenue Drivers and Growth Prospects, Envisioning Prominent Expansion by 2033

By 2033, the central venous catheters market sales is expected to be valued US$5,314.5 million. Our healthcare specialists predict that the market for central venous catheter manufacturers will grow at a 5.1% CAGR through 2033, with a projected value of US$ 3,238.1 million in 2023.

In a significant paradigm shift, the central venous catheter market is undergoing substantial evolution driven by diverse factors set to define its trajectory in the upcoming years. Central Venous Catheters (CVCs), indispensable medical devices, play a pivotal role in various clinical applications, encompassing the monitoring of central venous pressure, administering medications, and facilitating hemodialysis. The global market for CVCs is poised for noteworthy growth, propelled by a combination of factors including an aging population, the rising prevalence of chronic diseases, and the continual advancements in healthcare infrastructure and technology. This transformative phase signifies a pivotal moment for the central venous catheter market as it adapts to meet the evolving healthcare landscape and the increasing demand for advanced medical interventions worldwide.

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The Central Venous Catheter Market has witnessed significant growth in recent years, primarily driven by the rising prevalence of chronic diseases and the increasing demand for intravenous (IV) therapies. Central venous catheters, also known as central lines, are critical in delivering medications, fluids, and nutrients directly into the large central veins near the heart. They are indispensable in managing patients with severe medical conditions, including cancer, renal failure, and critical illnesses.

As healthcare facilities strive to provide better patient care and enhance treatment outcomes, the growth of the central venous catheter market is expected to continue. Factors such as technological advancements in catheter design, a growing aging population, and the expansion of healthcare infrastructure in developing regions are poised to contribute to the market’s expansion.

Based on a detailed analysis of the available data, the current market landscape, and unique market trends, the research report gives the reader the required direction and outline regarding the central venous catheter market.

Holistic Market Analysis and Market Dynamics

The report seamlessly integrates all valuable information about market dynamics that are driving the growth of the central venous catheter market. The report highlights their analysis of the central venous catheter market landscape and discusses the effectiveness of market dynamics.

The research report offers valuable insights for a thorough and comprehensive understanding of the central venous catheter market thanks to macroeconomic drivers like the rising prevalence of chronic diseases, quick advancements made by the healthcare sector, and demand and supply drivers projected in the publication. The research also discusses market limitations, general market trends, and potential future market opportunities.

“The Central Venous Catheter (CVC) market exhibits steady growth due to its essential role in modern healthcare, particularly in critical care, surgery, and long-term treatments. As healthcare advances, the demand for CVCs remains significant within the medical device industry.” – Lead Analyst, FMI

Key Takeaways

There is a surge in the demand for various types of central venous catheter products, so key manufacturers are investing in research and development to introduce better and more efficient products. These factors are likely to boost the growth throughout the forecast period.
Widespread technological advancements and the adoption of high-tech equipment in medical procedures and medical device insertions are bringing the central venous catheter market into the limelight. Increased usage of ultrasound-guided insertions has improved the safety and effectiveness of CVC placement and helped reduce the complications associated with the procedure.
More accessibility to product-based solutions, such as quality control and infection prevention guidelines, has further fueled growth in the market, resulting in a hike in the overall revenue growth of the global central venous catheter market.
The growth in the central venous catheter market is driven by the global burden of diseases, increasing expendable income, and the rising awareness of the adoption of surgical procedures for managing illnesses.
based on product category, the non-tunneled catheter sub-segment accounts for about 77.0% of the total market share and is likely to retain its dominance during the forecast period. Central venous catheter insertion is a routine and frequently required procedure to care for critically ill patients efficiently.

Competitive Landscape

Prominent market players are focusing on upgrading their product portfolios by launching new and more advanced products. Besides this, they are increasingly interested in adopting different approaches and strategies, including partnerships, mergers, acquisitions, and collaborations, to improve their revenue share and expand their global presence.

Key Players

Angio Dynamics
C.R. Bard
Teleflex Incorporated
B. Braun Melsungen AG
Kimal Healthcare
Come B.V.
Medtronic Plc
Smiths Medical
Vygon (UK) Ltd.
Becton, Dickinson, and Company
Argon Medical Devices Inc.
Boston Scientific Corporation
Cook Medical Incorporated
Medical Components Inc.
Fresenius Kabi AG

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Central Venous Catheter Market Segmentation

By Product:

Dialysis Catheters
Acute Hemodialysis Catheter
Chronic Hemodialysis Catheter
Peritoneal Dialysis Catheter
PICC Catheters
Implantable Port
CVC Catheters
Tunneled Catheters
Non-tunneled Catheters

By Property:

Anti-microbial Catheter
Non-Anti-Microbial Catheter

By Design:

Single Lumen
Double Lumen
Multiple Lumen

By End-user:

Hospitals
Ambulatory Surgical Centers
Dialysis Centers
Specialty Clinics
Others

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
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)

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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Ophthalmic Lasers Market Set to Achieve Remarkable Growth, Aiming for US$ 1.3 Billion Milestone by 2030

According to projections, the global ophthalmic lasers market is expected to increase at a 5.4% Compound Annual Growth Rate (CAGR), which is a moderate but noteworthy growth trajectory. The market is projected to grow from its starting point of US$ 884.3 million in 2022 to US$ 1.3 billion by the year 2030. There are several factors that are propelling this growth, including a sharp increase in the need for ophthalmic laser technology and a concurrent rise in the prevalence of eye conditions worldwide.

A cornerstone application of ophthalmic lasers unfolds in the realm of refractive surgery, notably exemplified by procedures like LASIK (Laser-Assisted In Situ Keratomileusis). LASIK has emerged as a preferred choice for rectifying nearsightedness, farsightedness, and astigmatism, offering patients a pathway to enhanced vision and reduced reliance on glasses or contact lenses. The evolution of femtosecond lasers has added a layer of precision and safety to these procedures, catalyzing their adoption on a global scale. As the ophthalmic lasers market continues to pioneer advancements in refractive surgery, the future holds promise for improved visual outcomes and increased accessibility to transformative eye care solutions worldwide.

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Moreover, ophthalmic lasers find extensive use in treating retinal conditions such as diabetic retinopathy, age-related macular degeneration (AMD), and retinal tears or detachments. Laser photocoagulation is a commonly employed technique to seal leaking blood vessels in the retina, preventing further damage and preserving vision. Additionally, the advent of selective laser trabeculoplasty (SLT) has revolutionized the management of glaucoma, providing a non-invasive approach to reduce intraocular pressure and prevent optic nerve damage.

The global market for ophthalmic lasers is expected to grow at a moderate 5.4% CAGR from US$ 884.3 million in 2022 to US$ 1.3 billion by 2030. The rising prevalence of eye diseases worldwide, as well as the rising demand for ophthalmic laser devices, are major factors driving the growth of the ophthalmic laser market.

According to a historical analysis of the global ophthalmic lasers market size conducted by Future Market Insights (FMI), a 4.4% CAGR was recorded between 2014 and 2021. The growing prevalence of ophthalmic disorders worldwide is driving the growth of the ophthalmic laser machines market. In 2021, the ophthalmic lasers market accounted for approximately 41% of the overall global laser therapy devices market, which was valued at US$ 2.0 billion.

According to FMI, the market for ophthalmic lasers is predicted to grow by 12 basis point share (BPS) in H1-2022 (O) when compared with H1-2021. The rise in BPS value for the ophthalmic lasers market can be attributed to the emerging role of artificial intelligence in ophthalmic imaging, as well as the innovation of the most notable, swept-source optical coherence tomography OCT to quickly scan a narrow bandwidth line across a larger frequency range, enabling even higher scan rates. The projected H1-2022 and H1-2022 outlook periods showed a dip in the growth rate by nearly 10 BPS. Furthermore, combining artificial intelligence with OCT in the anterior and posterior regions will contribute to the global market’s growth.

Ophthalmic lasers are known as unique solutions utilized to treat vision-threatening diseases such as glaucoma, macular degeneration, and diabetic retinopathy, along with fixing damaged corneas. They have increasingly become highly sought-after products used in surgical care for numerous eye disorders due to their safe, precise, and accurate nature. Over a span of a few years, a significant surge has been witnessed in the number of common ophthalmic disorders such as cataracts, glaucoma, etc. as a result of the rising prevalence of diabetes worldwide. This is expected to create a conducive environment for the top manufacturers of ophthalmic laser devices during the forecast period.

Key Takeaways :

The surging prevalence of eye diseases worldwide along with the growing demand for ophthalmic laser devices are prominent factors driving the growth in the ophthalmic laser market. The sales of ophthalmic lasers are significantly influenced by growing consumer preference for minimally invasive laser treatments and the rapid growth of the eye infections treatment market.
Taking good care of eye health is crucial in order to maintaining impeccable eyesight has always been a priority among consumers. Rising spending on maintaining proper eye health combined with growing awareness about various ophthalmic diseases is improving the ophthalmic laser machines market size, creating lucrative opportunities for ophthalmic laser manufacturers.
Rising inclination towards safe and effective procedures like laser vision correction (LVC) for eliminating the need for glasses or contact lenses is boosting the ophthalmic laser devices market. In addition to that, the growing popularity of minimally invasive surgeries and the flourishing laser therapy devices market are anticipated to create a favorable ground for the ophthalmic laser market during the assessment period.
Dominant manufacturers in the market are expected to invest more in better product designs and technology upgrades in order to provide innovative products to ophthalmologists for application in common ophthalmic surgeries. This will further push demand for ophthalmic laser devices during the forthcoming period.
During the second half of the projection period, several other market segments are predicted to perform objectively and profitably. However, correct segmentation of the retinal layers is still required for OCT accuracy certification, which can be difficult, especially when disease disrupts the normal retinal architecture, posing a challenge for the market for ophthalmic lasers.
Moreover, technological advancements in ophthalmic laser systems and the widespread expansion of the ophthalmic diagnostic equipment market will further help ophthalmic laser manufacturers to increase their sales during the forthcoming years.

Competitive Landscape

The global Laser Eye Surgery market is expected to be highly competitive in nature owing to the presence of several well-established players in the ophthalmic lasers market. Key companies are continuously indulging in strategies such as new product launches, partnerships, agreements, collaborations, and the strengthening of distribution channels to increase their sales revenue in different countries.

Key companies:

Abbott Medical Optics, Inc.,
Alcon Inc. (Novartis AG),
Bausch & Lomb Incorporated,
LENSAR, LLC,
NIDEK CO., LTD,
iVIS Technologies,
ZEISS International,
Ziemer Ophthalmic Systems AG,
SCHWIND eye-tech-solutions GmbH & Co. KG.

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Key Segments:

By Product:

Excimer Lasers
Femtosecond Laser

By Application:

Refractive Surgery
Cataract Surgery
Posterior Capsulotomy
Trabeculoplasty
Diagnostic

By End User:

Hospital
- 500 Bedded+
- 250-499 Bedded
- Less than 250
Ambulatory Surgical Centers
Ophthalmology 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)

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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GCC Medical Gloves Market Poised to Reach a Striking US$ 340.3 Million Milestone by 2031

The GCC Medical Gloves Market share is expected to develop at a solid 7.9% Compound Annual Growth Rate (CAGR) and reach US$ 145.0 million by 2020, according to a recent report by Future Market Insights (FMI). Based on its current trajectory, the market is expected to reach a notable valuation of US$ 340.3 million by 2031.

The evolving lifestyle landscape in the GCC region has ushered in a surge in elective surgeries, driven by choices rather than life-or-death necessities. Notably, cities like Dubai and other Gulf nations witness a rising trend in elective procedures, spanning from plastic surgery to liposuction, rhinoplasty, breast augmentation, breast reduction, blepharoplasty, and beyond. As these elective surgeries become commonplace, the demand for medical gloves escalates, necessitated by the essential supplies required for these procedures.

Crucially, the practice of “double gloving” gains prominence during surgeries to mitigate the risks of glove punctures and potential contamination of sterile surgical equipment. This meticulous approach by healthcare professionals is expected to fuel sustained growth in sales over the assessment period, underlining the dynamic relationship between evolving medical practices and the demand for essential medical supplies in the GCC region.

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Key Takeaways:

By raw material, the latex material segment is expected to hold 80.2% of the total market share in 2021, expanding at 7.9% CAGR during the forecast period.
Based on product type, the examination gloves segment is projected to command 55.6% of total sales in 2021, expanding at 8.1% CAGR.
By form, the powdered form segment is expected to hold 63.7% of the total market share in 2021, expanding at 8.0% CAGR.
By type of use, sales of disposable gloves are anticipated to hold 90.5% of the total market share 2021, and are to projected to increase at a robust 8.0% CAGR over the forecast period.
By end use, hospitals will account for 67.2% of total sales in 2021.
By distribution channel, the direct selling channel will account for 55.1% of the total market share in 2021.
Kingdom of Saudi Arabia (KSA) is anticipated to hold the largest share of 76.2% of the GCC medical gloves market in 2021.

Who is winning?

Leading players operating in the market are investing in mergers, acquisitions and collaborations with existing players and healthcare institutes to gain a competitive edge. For instance:

In August 2020, Ansell Healthcare Products LLC collaborated with Nordic company ONeMEd with an aim to expand their customer base in the Nordic countries. Ansell is one of the global leaders in hand protection equipment.

The key market players covered by FMI include Paul Hartmann AG,Hotpack Packaging Industries LLC,Falcon (Falcon Pack),Deeko Bahrain,Salalah Medical Supplies Mfg. Co. LLC,United Medical Industries,NAFA Enterprises Ltd.,Liberty Industries, Inc.,Ansell Healthcare,Mckesson Corporation,Cardinal Health, Inc.,Medline Indsutries, Inc.,Dynarex Corporation,Top Glove Corporation Berhad,Kimberly-Clark Corporation,Semperit AG Holding.

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GCC Medical Gloves by Category

Raw Material:

Latex Material Gloves
Nitrile Rubber Material Gloves
Vinyl Rubber Material Gloves
Polyisoprene Material Gloves

Product:

Examination Gloves
Surgical Gloves
Chemotherapy Gloves

Form:

Powdered form Gloves
Powder-free form Gloves

Type of Use:

Disposable Gloves
Re-usable Gloves

End User:

Hospital Use
Clinic Use
Ambulatory Surgery Centre Use
Diagnostic Imaging Centre Use
Rehabilitation Centre Use

Distribution Channel:

Direct Selling Channel
Medical Store Channel
E-Commerce Channel
Other (Retail Store or Hypermarket) Channel

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)

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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The Expanding Global Market for Lutein, a Key Player in Eye Health, Functional Foods, and Dietary Supplements, Projected to Reach $590 Million by 2032

The global lutein market is seeing sustained increase as a result of growing consumer knowledge of lutein’s advantages for eye health. Many fruits and vegetables naturally contain lutein, a pigment that has been shown to guard against cataracts and age-related macular degeneration. The market is expanding due to the growing demand for lutein-containing functional foods and dietary supplements. In addition, expanding uses in the pharmaceutical and cosmetic sectors along with improvements in extraction methods are anticipated to propel the lutein market in the upcoming years.

The current estimated value of the world market for lutein is US$ 354.3 million. By 2032, it is anticipated to have grown at a compound annual growth rate (CAGR) of 5.2% and total US$ 590 million.

The global lutein market is expected to grow steadily over the forecast period. The lutein market is expanding and is predicted to continue so for the foreseeable future due to rising demand for eye supplements brought on by the explosive growth of the healthcare industry.

Lutein functions as a type of “internal sunglasses,” absorbing blue light to potentially lessen the photochemical damage from short visible light wavelengths. Lutein can be taken as a dietary supplement and in green vegetables to increase MPOD (Macular Pigment Optical Density) in human eyes and reduce the risk of AMD (Age-related Macular Degeneration).

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Global Lutein Market: Segmentation

The Lutein market can be segmented on the basis of end-use industry, application, and regions. Based on the end-use industry, Lutein is segmented into food, pharmaceuticals, nutraceuticals, animal feed applications, and dietary supplements.

The cosmetics & pharmaceutical sectors are projected to grow during the forecasted period. On the basis of the application, the lutein market is segmented into food coloring, dairy products, egg products, cosmetics, tobacco, medicine, and poultry feed. The application of lutein in dairy & egg products is the foremost segment of the Lutein market over the projected period.

Growing consumer preference towards functional dairy products such as cheese, yogurt, and ice creams due to increasing health concerns consumers may drive the global lutein market.

Global Lutein Market: Regional Outlook

On the basis of the geographical market segment, it is segmented into seven different regions: North America, Latin America, and Eastern Europe, Western Europe, and Asia-Pacific region, Japan and the Middle East and Africa.

In regional segments, APAC is presently the market leader in terms of revenue in the global lutein market and is expected to hold market dominance over the forecast period followed by North America will witness relatively high growth in the global Lutein market over the forecast period as increasing health concerns mainly increasing demand for Lutein in healthcare industry as consumers are using variety Lutein infused products which are related to bone, heart, eye, weight, digestion, immune diseases may drive U.S. lutein market.

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Global Lutein Market: Drivers & Restraints

Hectic lifestyle and lack of stable diet have increased health problems such as diabetes, heart diseases, obesity, and stroke will boost the lutein dietary supplements market which includes fatty acid, minerals and vitamins during the anticipated period.

Supplements which contain lutein have some restraint, it may cause hives, rash, stomach cramps, and facial swelling & breathing problem is the major restraint of lutein market.

Consumption of high amount of lutein products or supplements may lead to a yellowing skin. Henceforth, lutein is not legalized as a nutritive ingredient in infant formula which reduces the industry profit margin and pressurizes products price trend is another key fear for global lutein market.

Global Lutein Market: Key Players

Some of the key players operating in the global Lutein market include DSM, BASF, Solaray, Sundown, Iorrow, Allied Biotech Corporation, Kemin, Tianjin Pharmaland, Nature’s Bounty, and few other regional players.

Manufacturers all over the world are expanding and innovating new technology and improving in production which may favor drive value & volume market size growth and also focus on different strategies to maintain their market share in the global lutein market.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and Industry.

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The report covers exhaustive analysis on

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional Analysis Includes

North America (U.S., Canada)
Latin America (Mexico, Brazil and Rest of Latin America)
Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
Eastern Europe (Poland, Russia and Rest of Eastern Europe)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, and Rest of MEA)

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies

About Future Market Insights, Inc.

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 favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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GCC Syringes and Needles Market Primed to Exceed the US$ 1.33 Million Milestone by 2031

In a groundbreaking revelation, a Future Market Insights (FMI) report highlights the impressive trajectory of the GCC syringes and needles market, which soared from a valuation of US$ 525.4 Million in 2020 to a projected US$ 1.33 Billion by 2031. This robust growth is anticipated to unfold at a remarkable Compound Annual Growth Rate (CAGR) of 8.8% over the forecast period, spanning from 2021 to 2031.

The surge in demand for syringes and needles is attributed to their critical role as precise drug delivery systems, addressing the treatment needs of a myriad of chronic ailments. Government initiatives and reforms across GCC countries have played a pivotal role in enhancing healthcare systems, introducing changes aimed at improving efficiency and quality. The resultant favorable policies create an environment conducive to market growth, fostering a landscape where the GCC Syringes and Needles Market is poised to redefine healthcare standards. As the region continues to evolve, these advancements underscore the pivotal role played by accurate drug delivery systems in shaping the future of healthcare across the GCC nations.

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According to an article published in the Saudi Medical Journal, the prevalence of diabetes was around 31.6% in the Kingdom of Saudi Arabia in the year 2017. Furthermore, increasing prevalence of other chronic diseases such as cardiovascular diseases, cancer, and other non-communicable diseases along with diabetes, which require long term care, contribute majorly in the increasing demand for disposable syringes and needles in these countries and will positively impact the market growth over the forecast period.

In February 2021, the Chairman of Department of Health, His Excellency Mohammed Al Hamed visited the Abu Dhabi Medical Devices company’s headquarters factory to oversee the efforts been taken to contribute to the COVID-19 pandemic since the company has made collaborations with various international organizations like UNICEF and COVAX to supply syringes and needles for the vaccination program worldwide.

Such developments not only strengthens the company’s existing portfolio but also help to increase their presence at the regional as well as global level, and helps companies to sustain the increasing competitive pressure. These developments are expected to favor growth of the GCC syringes and needles market.

Key Takeaways:

Hypodermic syringes and needles will remain the top-selling product in the market, accounting 87.6% of demand in 2021.
By usability, the disposable syringes and needles will account for dominant share of 81.3% in the market in 2021.
By material, the polymer syringes and needles are expected to register high demand. Sales in this category will grow by 8.9% during the forecast period.
By end user, the hospital segment will account for 66.9% of the market share in 2021.
By countries, Kingdom of Saudi Arabia (KSA) is anticipated to hold the largest share of 73.6% of the GCC syringes and needles market in 2021.

“In order to cater to surging demand, market players are eyeing for strategic collaborations. Besides this, they are investing in research and development initiatives to strengthen their product portfolio. This is expected to help in the growth of the market over the coming years,” said a lead FMI analyst.

Who is winning?

Some of the leading manufacturers of syringes and needles market are focusing on product launch, collaboration and partnership strategies for global expansion objectives, thereby, enhancing their market presence.

In June 2021, Becton, Dickinson and Company announced that they have received a huge order of 2 billion injection devices which would be used for the vaccination programs around the globe.
In April 2019, B. Braun Medical Inc., announced the launch of their first FDA approved Heparin Sodium prefilled syringe injection which has attached safety needle for subcutaneous and intravenous use.

The key market players covered by FMI include Becton, Dickinson and Company, Nipro Corporation, Baxter International Inc., B. Braun Melsungen AG, Terumo Corporation, Medtronic PLC, Smiths Group PLC, Abu Dhabi Medical Devices Company, SAAPP (FZC) LLC. and IBN Sina Medical Factory

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Key Segmentation:

Product:

Oral
Hypodermic
- Standard
- Special Purpose
  - Insulin
  - Tuberculin
  - Other Special Purpose
  - Angiographic

Usability:

Disposable
Reusable

Material:

Glass
Polymer

End User:

Hospital
Blood Collection Center
Diabetic Care Center
Veterinary Care Center
Others

Countries:

Kingdom of Saudi Arabia (KSA)
United Arab Emirates (UAE)
Qatar
Bahrain
Oman
Kuwait

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.

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Perfume Market Poised for Strong 5.5% Growth, Set to Surpass US$ 101.3 Billion by 2033 | FMI

According to Future Market Insights, the global perfume market will increase at a compound annual growth rate (CAGR) of 5.5% throughout the assessment period. It is anticipated that by 2033, the market will have grown from US$ 59.4 billion in 2023 to US$ 101.3 billion.

Rising demand for custom-made perfumes is rising across key markets. Hence, key players are keen on developing technologically innovative products such as touchless product dispensers.

Expansion of the Beauty Industry becomes a Major Market Driver

The beauty industry is expanding as a result of a global increase in disposable incomes. Further, fragrance-infused products are also finding application in the personal grooming segment. By releasing innovative variants, key players hope to expand their consumer base.

Fragrance-infused essential oils are also growing in demand currently. These long-lasting variants are preferred over traditional fragrance products. A shift of consumer preferences towards luxury, exotic variants have also aided in market growth.

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Advertising & Marketing Plays Key Role in Market Expansion

Recent trends show that key players have been investing heavily in various marketing channels to improve product exposure. This includes social media campaigns and influencer marketing. Hence, e-commerce has emerged as a lucrative medium for perfume vendors to reach out to large audiences.

To attract more customers, certain vendors are even offering custom-made fragrances that suit individual preferences. Such innovations backed by extensive advertising campaigns are expected to retain consumer interest throughout the forecast period.

Demand for Synthetic Perfume Wanes, Key Players Look to More Lucrative Segments

Currently, in the beauty and cosmetics segment, there is a stark rise in demand for natural ingredient-based products. Hence, synthetic chemical-based products aren’t preferred by consumers. Demand for currently popular synthetic perfume variants could wane during the forecast period.

Hence, key players should focus on creating natural ingredient-based variants that are preferred by consumers.

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Key Segments

By Product Type:

Self-Adhesive
Non-Adhesive

By Price Range:

Economy
Mid-Range
Premium

By Application:

Household
Commercial

By Sales Channel:

Direct
Indirect – Hypermarkets/Supermarkests
Multi-Brand Stores
Independent Small Stores
Online Retailers

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

Key Market Developments:

In 2020, Givaudan introduced a new-age perfume technology called Viva Scentz. This has expanded the capabilities of the company to produce a variety of fragrance lines. This includes personal fragrances, fine fragrances, and oral care fragrances.
In 2021, Sephora launched the Maison 21G which is a touchless AI-powered scent bar. Currently, it is available across cosmetic retail stores in Hong Kong.
Floratropia is a new-age perfume startup featuring minimalistic packaging that used only natural and raw vegan materials. This helps in minimizing the environmental impact of perfume packages.

Key Market Players:

Estee Lauder Companies Inc.
LVMH Moet Hennessy Louis Vuitton
Coty Inc.
L’Oréal S.A.
Elizabeth Arden Inc.
Shiseido Co. Ltd.
Puig SL.
Perfumania Holdings Inc.
Avon Products Inc.
Hermes International S.A.
Natura Cosmetics S.A.
Channel S.A.
Clarins Cosmetics Company
Revlon Inc.
Givaudan

Key Players Focus on Launching Exciting Product Variants

Both startups and leading players in the industry are keen on using technologies such as AI to increase market revenue. Many startups are currently focusing on minimizing the environmental impact of perfumes, and their packaging. Hence, they are coming up with more sustainable solutions. This includes synthetic chemical-free organic perfumes and plastic-free packaging.

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Traditional Wound Management Market Hits US$ 6,638 Million by 2033, Anchoring Heritage Approaches in Healing

The traditional wound care market size was projected to be valued US$5,059.1 million in 2022. The market is expected to be worth US$5,185.6 million in 2023. The global market for wound assessment and treatment is anticipated to expand at a compound annual growth rate (CAGR) of 2.5% between 2023 and 2033. At this modest growth rate, the overall market valuation is expected to surpass US$ 6,638 million by 2033.

One of the significant advantages of traditional wound management lies in its accessibility and cost-effectiveness, making it a viable option for both developed and developing regions. Moreover, healthcare professionals often prefer traditional wound care for certain types of injuries or minor wounds, as they strike a balance between simplicity and efficacy. Additionally, patients with limited access to specialized wound care products or medical facilities can benefit from these familiar and widely available methods.

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While the traditional wound management market faces competition from modern wound care alternatives, it continues to demonstrate its relevance and importance, particularly in cases where sophisticated technologies may not be readily accessible or necessary. As healthcare evolves, a harmonious integration of both traditional and advanced wound management approaches ensures that patients receive the most suitable and effective care for their specific wound healing needs.

In 2021, the global traditional wound management market was valued at US$ 4.9 billion, with sales expected to reach US$ 5.1 billion by 2022. The market is expected to grow at a CAGR of 3.2%, surpassing US$ 6.9 billion by 2032. The gauze segment led the market by product type in 2021, with a market share of around 39.7%.

As per the recent study by Future Market Insights, the gauze segment by product is leading the market with a share of about 39.7% in the year 2021, within the global market. The global wound care market is predicted to be valued at US$ 18.4 Billion out of which traditional wound management consists of a share of 26.6%, in 2021.

During the traditional period from 2014 to 2021, the market for traditional wound management expanded at a CAGR of 2.9%. Traditional wound management is expected to experience a shift in dynamics owing to the changes in demographics of the geriatric population and the growing incidence of wounds, owing to the rising problem of infection acquired during surgical procedures globally.

Furthermore, the surgical list falls under the care of chronic wounds. The surge of trauma and chronic diseases such as diabetes and ulcers are the leading cause of the rising demand for the traditional wound management market.

Key Takeaways

The market is expected to showcase an optimistic outlook, owing to the cost-effectiveness and clear reimbursement policies. The drastic inclination towards wound healing and care dynamics along with the adoption of traditional wound management products presents a significant revenue opportunity for the traditional wound management sector.
The surging number of chronic wound patients has encouraged the development and implementation of therapies that help in the promotion of faster and more efficient wound healing. Early healing is predicted to assist the lower and average length of hospital stays. A chronic wound is a chronic health problem because it frequently spreads to the surrounding tissues, resulting in infection and amputation.
Several infections were caused owing to the rise of serious health issues and therefore resulted in the addition of overall system costs. Therefore, traditional methods of wound care and cleansing are re-evaluated and as a result, traditional wound care products are incorporated into the patient and wound care system for the reduction of infection-related costs.
Irrespective of the availability of advanced wound care and healing products, major healthcare professionals and facilities choose traditional wound management products due to their cost-effectiveness and long-term training and research experience.
The surge in various surgical procedures, the aging population, and the surge in the adoption of technically advanced products, are some of the factors driving the market. The hurdles faced are due to a lack of skilled professionals, general awareness about wound care, and rising medical waste.

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Competitive Landscape

With numerous competitors in the traditional wound management market landscape, the overall industry is fragmented. In order to meet consumer demand and expand their customer base, these companies are implementing methods such as expanding their production capabilities by constructing new factories and manufacturing facilities also indulging in partnerships and collaborations and availing new product launches with technological advancements.

Key Companies:

Smith & Nephew plc.
B. Braun Melsungen AG
Johnson & Johnson Pvt. Ltd.
Medtronic Plc.
Cardinal Health,
Derma Sciences Inc.
Paul Hartman AG
Molnlycke Health Care
Medline Industries, Inc.
DUKAL Corporation
BSN Medical

More Insights into the Traditional Wound Management Market

The U.S. is expected to dominate the global traditional wound management market as it accounted for around 26.4% in 2021 and is expected to continue to experience the same growth throughout the forecast period.

China is the second largest manufacturer of traditional wound management. According to the estimations, China is expected to account for 6.0% of globally. The market is expected to surge at a robust pace over the forecast period due to rising healthcare facilities in the region along with the presence of prominent manufacturers.

Key Segments:

By Product:

Bandages
- Adhesive Bandages
- Non-adhesive Bandages
- Compression Bandages
Gauzes
- Woven Gauzes
- Non-woven Gauzes
Gauze Sponge
- Woven Gauze Sponges
- Non-woven Gauze Sponges
Sponges
- Woven Sponges
- Non-woven Sponges

By Application:

Skin and Diabetic Ulcers
Burns
Surgeries
Trauma
Others (skin cuts, primary dressings, etc.)

By End User:

Hospitals
Clinics
Diagnostic Centers
Homecare Settings
Ambulatory Surgical Centers

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)

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 Phone Accessories Market Set to Reach New Heights at US$ 189,807.7 Million by 2033 | FMI

The mobile phone accessories market is expected to be worth US$ 97,996.3 million in 2023 and US$ 189,807.7 million by 2033, growing at 6.8% CAGR from 2023 to 2033.

78 percent of all sales in North America are still made in the United States. While China will still be the region’s biggest market, demand is expected to increase significantly in South Korea and Japan.

The survey claims that a protective case, headphones or earbuds, a charger, a battery, a memory card, a power bank, a portable speaker, and “others” are the most popular mobile phone accessories on the market.

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Protective cases are currently in high demand among these items, and in 2021, this market segment will make up one-fifth of the entire market. During the projected period of 2021–2025, FMI anticipates a continued robust demand for protective cases.

Inability of modern-day smartphone batteries to withstand heavy usage has led to robust demand for power banks. Owing to stellar demand, power bank segment is expected to gain 230 BPS during the forecast period, and increase its market share from 10% in 2014 to 12.3% in 2025. Power bank segment is also expected to witness the highest CAGR, growing at 9% between 2015-2025.

The key factors that are driving the global mobile phone accessories market include rising smartphone ownership and mushrooming of multi-brand distributors and retailers.

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Smartphone sales are buoyant in emerging economies, such as China, India, Brazil, and Indonesia. Smartphone shipments increased from 1.1 Bn units in 2013 to 1.2 Bn units in 2014. Around 45% of these 1.2 Bn units were shipped to China. FMI expects the rising smartphone ownership to create secondary demand for products that are not usually included in the box, such as power banks and protective cases.

In addition to multination brands, the smartphone segment in emerging nations also includes regional players, such as Xiaomi and Micromax. FMI’s analysis revealed that compared to multinational brands, these local players offer fewer mobile accessories in their offerings in a bid to keep the prices competitive. Owing to this, a majority of consumers buy mobile accessories from the local market or from e-commerce sites. Increase in the sales of smartphones made by local manufacturers is expected to provide an impetus to the mobile phone accessories market during the forecast period.

The emergence of multi-brand distributors and retailers has allowed manufacturers of mobile phone accessories to reach a wider audience. Additionally, the selling of mobile phone accessories through online retailers is boosting the market’s expansion on a global scale. During the projection period, FMI anticipates that both multi-brand stores and e-commerce stores would grow, which is projected to boost the global market for mobile phone accessories.

Few reasons can impede the expansion throughout the projection period, despite the fact that FMI continues to have a favourable outlook on the global market for mobile phone accessories.

Lack of stringent checks on pirated accessories is eating into the revenue share of key stakeholders in the market. Pirated mobile accessories are offered at a fraction of the price of original products, making it difficult for manufacturers to compete with them.

Currently, there exists a lack of standardization in technology and components used for manufacturing mobile accessories. Undefined standards in the market lead to high product and price differentiation, this may hinder growth of the mobile accessories market to some extent.

The key trends analysed by FMI in the global mobile phone accessories market include growing demand in Asia and spate of mergers and acquisitions. Diversification of product portfolio and product advancement are the other major trends in the global mobile phone accessories market.

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Revolutionizing Industries The Soaring Growth of Encapsulated Sodium Bicarbonate in Food, Medicine, and Personal Hygiene

The market for encapsulation sodium bicarbonate, is growing dramatically as a result of its numerous applications in food, medicine, and personal hygiene. Encapsulation technology ensures controlled release, stability, satisfies customer demand for natural components, and accelerates market expansion at a CAGR until 2032.

The market for encapsulated sodium bicarbonate is expanding significantly because of its many uses across several sectors of the economy. The technology of encapsulation guarantees the regulated release and enhanced stability of sodium bicarbonate, so augmenting its effectiveness in culinary, pharmaceutical, and personal care goods. The market is expanding due to rising consumer demand for sustainable and natural components, which presents profitable prospects for industry participants.

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Encapsulated Sodium Bicarbonate Market is expected to reach greater heights in 2032, likely to surge at a CAGR growth during the period 2022 to 2032

In order to create encapsulated sodium bicarbonate, hydrogenated vegetable oil is applied to the salt’s surface. Encapsulation is significant because it regulates chemical activity and carbon dioxide emission, improving the product’s quality. Through its ability to cut down on the additional costs of baking soda, encapsulated sodium bicarbonate also contributes significantly to the manufacturing process. Cottonseed oil and palm oil are the two vegetable oils that are most frequently used for the encapsulated sodium bicarbonate.

As a result, a major factor influencing the stability of the market for encapsulated sodium bicarbonate is the variation in the supply of raw materials. The expanding encapsulation technology is making an impact in a number of areas, including emulsification, flavours, and hues. The market for sodium bicarbonate in encapsulation is anticipated to increase concurrently with the other encapsulation technology divisions.

Demand for better quality in processed food is driving the encapsulated sodium bicarbonate market growth

The encapsulation technology has witnessed numerous advancements in terms of microencapsulation technologies and its range of applications have also expanded to include segments such as dairy products, functional food, and animal nutrition. Manufacturers across the globe are investing in microencapsulation technology which enhances the characteristics of the flavour, taste and texture profile. Encapsulated sodium bicarbonate troubleshoots the problem associated with the addition of baking agents and restores the activity of leavening agents for a longer period of time.

Some of the issues encapsulated sodium bicarbonate deals with change in dough texture, sponginess of the dough which is affected by air, etc. Hence, encapsulated sodium bicarbonate enables better shelf-life stability. Key global manufacturers are also investing significantly in R&D of encapsulation technologies, propelling the growth of the encapsulated sodium bicarbonate market. Encapsulated sodium bicarbonate is beneficial for food ingredient delivery system owing to its non-toxic nature.

However, it involves high-cost equipment and production processes. One of the major factors that is hampering the growth of the encapsulated sodium bicarbonate market is additional costs incurred during production. The cost of the encapsulated sodium bicarbonate is higher than the cost of the end-product, which acts as a restraint for the encapsulated sodium bicarbonate market. Thus, to curb high costs, companies are focused on developing advanced processing and formulation technologies in the encapsulated sodium bicarbonate market.

Encapsulated Sodium Bicarbonate Market: Regional Analysis

Increasing consumption of artisan bakery products in the developed countries sets the product apart from the rest, as it has been prepared with real, extraordinary expertise and skills. These positive aspects of the bakery industry are fuelling the encapsulated sodium bicarbonate market growth in these regions.

In the developing countries, a sudden increase in the middle-class consumers and an increased purchasing power has led to rising in the consumption of specialty bakery products which is fuelling the growth of the encapsulated sodium bicarbonate market.

Apart from these factors, the easy procurement of raw material such as coating agents for encapsulated sodium bicarbonate is also driving the market growth. Hence, Asia Pacific is a lucrative region for the encapsulated sodium bicarbonate market.

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Encapsulated Sodium Bicarbonate Market: Key Participants

Some of the market participants in the Encapsulated Sodium Bicarbonate market are:

Clabber Girl Corporation
Watson Inc.
Veripan Ltd
VEDEQSA
Ingrizo NV
Basic Equine Health LLC
Indukern
Indukern, S.A

The research report presents a comprehensive assessment of the Encapsulated Sodium Bicarbonate market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, application, and end use.

Encapsulated Sodium Bicarbonate Segmentation

On the basis of encapsulating agent, the Encapsulated Sodium Bicarbonate market is segmented into-

Cotton seed oil
Palm oil
Others

On the basis of end use industry, the encapsulated sodium bicarbonate market is segmented into-

Bakery Industry
Bread
Baguette
Bagels
Buns & Rolls
Loaves
Cakes
Muffins
Cream pastries
Patisseries
Viennoiserie
Premixes
Animal Feed Industry

On the basis of grade, the encapsulated sodium bicarbonate market is segmented into-

Food Grade
Feed Grade

Report Highlights:

Detailed overview of parent market
Changing dynamics of the Encapsulated Sodium Bicarbonate market in the industry
In-depth market segmentation and analysis
Historical, current, and projected market size in terms of volume and value
Recent industry trends and developments in the Encapsulated Sodium Bicarbonate market
Competitive landscape of the Encapsulated Sodium Bicarbonate market
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on Encapsulated Sodium Bicarbonate market performance
Must-have information for Encapsulated Sodium Bicarbonate market players to sustain and enhance their market footprint

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