Automotive Seating Market Projected to Reach US$ 73,960.9 Million by 2032 | Future Market Insights, Inc.

The global automotive seating market is expected to surge at a stagnant CAGR of around 3.40% during the forecast period from 2022 to 2032. The growth in the market is expected to reach a valuation of US$ 52,941.6 Million in 2022 and is anticipated to surge by an estimation of around US$ 73,960.9 Million in 2032.

The most recent model developments are discussed in the automotive seating industry in order to provide the driver and passenger with greater comfort. Over time, seating has evolved from basic seating systems to intricate works of art that help manufacturers and customers meet their needs. With the aid of automotive seating components, manufacturers have begun creating novel layouts that will modify seating systems more than conventional seating systems currently do.

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It has been predicted that the Asia Pacific region’s market development rate will accelerate. because businesses are aggressively establishing bases in emerging markets like China and India to benefit from the low labour expenses there. Due to the luxurious adjustments that are constantly being incorporated into seating systems to ensure that customers have a relaxing experience while travelling, the adoption of advanced automotive seats is on the rise. As a result, it is expected that the automotive seating market will experience a steady yet slow growth over the course of the forecast period.

Key Takeaways

  • Since bigger cars have doubled the proportion of SUVs, there has been a significant shift in customer preferences over the past few years. They come in a variety of seat configurations, such as bucket chairs and bench or bucket seats in the second row (may or may not be split). Due to technological advancements, full-size SUV seats are completely powered, heated, and ventilated and have the option of leather upholstery. As a result, the market for automotive seating is being driven by increasing SUV purchases.
  • Governments all over the world have been seen to actively participate in and play a role in paving the way for foreign direct investments that support the automotive seating industry. The aforementioned factors will likely cause the global automotive seating market to expand in the future years.
  • Customers’ propensity for opulent sitting systems has recently been noticed by Future Market Insights. Manufacturers are making an effort to develop luxurious goods while putting a strong emphasis on safety issues.
  • The development of advanced driver assistance technologies is receiving more attention from the car industry, with the main goal being the creation and introduction of a completely automated driving experience. Consumer preference for mobility-on-demand services has risen noticeably, opening up profitable possibilities in the automotive seating market.
  • The longevity of seats will be a crucial factor to take into account with a rising desire for care sharing. Nowadays, multiple commuters use the same vehicle at the same time, making privacy a crucial factor that is driving manufacturers to innovate and acquire compelling goods for end users.

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Competitive Landscape

The prominent market players are making continuous innovations and indulging in several mergers and acquisitions in order to curate convenient seating solutions for the end-users. They are possessing compelling products that efficiently abide by consumer preference for further increasing demand in the global automotive seating market.

Key companies proliferating in the automotive seating market are:

Fisher and Company, RECARO Automotive, Faurecia, Grammar Seating Systems, Johnson Controls, TM Automotive Seating Systems Private Limited, Lear Corporation, Tata Autocomp Systems Limited, Toyota Boshoku Corporation, Marter Automotive Seating Systems, TS Tech Corporation Ltd.

Key Segments In The Automotive Seating Market

By Seat Type:

  • Split seat
  • Bench seat
  • Split Bench seat

By Vehicle Type:

  • PCV (Passenger Commercial Vehicles)
  • LCV (Light Commercial Vehicles)
  • HCV (Heavy Commercial Vehicles)

By Distribution Channel:

  • OEM
  • Aftermarket

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More Insights into the Automotive Seating Market

North America is anticipated to dominate the global automotive seating market by accounting for the maximum share of the global landscape. This region is expected to grow at a steady pace cumulating around 20.0% of the total market share of the automotive seating market.

The growth in the region is attributed to the increasing demand for hybrid and electric vehicle motor. Moreover, emerging trends in automotive seating systems and growing vehicle production with legitimate government grants to carry forward research and development activities to further propel growth is fueling the market growth.

Europe is projected to account for the highest share of the automotive seating market and dominate the global forum throughout the assessment period. Currently, the European region is accountable for a 25.0% share of the automotive seating market size. The region comprises the highest production capacity for commercial and passenger vehicles, causing the demand for installing seats with advanced technology, which boosts the regional market’s growth.

Author

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

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

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

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T: +1-845-579-5705


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Global Therapeutic Respiratory Device Industry is expected to witness significant expansion, reaching US$ 80.2 Billion by 2033, as per FMI’s forecast

Therapeutic Respiratory Device Industry
Therapeutic Respiratory Device Industry

The global therapeutic respiratory devices industry growth is anticipated to witness exponential growth, estimated to attain a market value of US$ 50.6 billion in 2023, and projected to reach an impressive US$ 80.2 billion by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 4.7%. This forecast, detailed in a recent market analysis report, underscores the escalating demand for advanced respiratory solutions amid the rising prevalence of respiratory diseases worldwide.

The surge in respiratory ailments such as chronic obstructive pulmonary disease (COPD) and sleep apnea has been a pivotal driver behind the market’s anticipated growth trajectory. This escalating trend has prompted an increased need for therapeutic respiratory devices designed to alleviate and manage these conditions effectively.

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The product landscape of the therapeutic respiratory devices market encompasses a wide range of devices, including inhalers, nebulizers, ventilators, continuous positive airway pressure (CPAP) machines, and oxygen concentrators. These devices are utilized in various settings, including hospitals, clinics, home care, and ambulatory care centers.

As governments and healthcare organizations across the globe strive to improve healthcare infrastructure, access to medical facilities, and patient outcomes, the demand for therapeutic respiratory devices is expected to continue rising. Additionally, the COVID-19 pandemic has highlighted the importance of respiratory support devices, resulting in increased investments in research and development to introduce more advanced and effective solutions.

Key Takeaways:

  • Existence of modern healthcare facilities in the United States and Canada, the therapeutic respiratory devices market in North America gained over 36% market share in 2021.
  • The Asia Pacific is predicted to expand the quickest throughout the forecast period, owing to factors such as increased asthma incidence in adults and children, as well as technology improvements.
  • Additionally, the market expansion would be aided by rising healthcare awareness and improved healthcare infrastructure.
  • The clinical trial of Tempol for the treatment of COVID-19 by Adams Respiratory Therapeutics Inc has surpassed enrollment expectations.
  • COPD is estimated to affect 10% of adults aged 75 and older in the United States, according to the Journal of the Italian Society of Gerontology and Geriatrics.
  • According to statistics issued by the Global Initiative for Asthma (GINA), an estimated 100 million people with asthma are expected to be diagnosed by 2025.

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Competitive Landscape:

  • Aerin Medical
  • BMC Medical Co., Ltd.
  • CareFusion Corporation
  • Covidien Plc
  • Drägerwerk AG & Co. KGaA
  • Fisher & Paykel Healthcare Limited
  • GE Healthcare
  • Hamilton Medical
  • Invacare Corporation
  • Koninklijke Philips N.V.
  • Medtronic
  • Nidek Medical Products, Inc.
  • Teleflex Incorporated
  • Smiths Medical

Acquisitions and mergers, the launch of new products and services, partnerships and joint ventures, MoU agreements, V.C. and funding activities, R&D activities, and geographic expansion, among other noteworthy activities by key players in the therapeutic respiratory devices market, are among the key strategic developments in the competitive landscape.

  • Acapella, a select blue vibratory PAP therapy device, was released by Smiths Medical in April 2021. It is a drug-free supplementary therapy for people with asthma, COPD, cystic fibrosis, and lung illness that aids in the evacuation of secretions.
  • Koninklijke Philips N.V. finalized the acquisition of BioTelemetry, Inc., a firm located in the United States, in February 2021. This aided in the expansion of Philips’ product line, resulting in increased sales of therapeutic respiratory devices.

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Key Segments:

By Product:

  • Positive Airway Pressure (PAP) Devices
    • Continuous Positive Airway Pressure (CPAP) Devices
    • Auto-titrating Positive Airway Pressure (APAP) Devices
    • Bi-level Positive Airway Pressure (BiPAP) Devices
  • Oxygen Concentrator
    • Fixed Oxygen Concentrators
    • Portable Oxygen Concentrators
  • Ventilators
    • Adult Ventilators
    • Neonatal Ventilators
  • Inhalers
    • Metered Dose Inhaler (MDI)
    • Dry Powder Inhaler (DPI)
    • Soft Mist Inhaler (SMI)
  • Nebulizers
    • Compressor-based Nebulizers
    • Piston-based Hand-held Nebulizers
    • Ultrasonic Nebulizers
  • Humidifiers
    • Heated Humidifiers
    • Passover Humidifiers
    • Integrated Humidifiers
    • Built-in Humidifiers
    • Standalone Humidifiers
  • Others

By Application:

  • COPD
  • Obstructive Sleep Apnea
  • Asthma
  • Respiratory Distress Syndrome
  • Cystic Fibrosis
  • Others

By End-use:

  • Hospital
  • Homecare Settings
  • Emergency Centers

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About Future Market Insights (FMI)

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

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
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Global Flexible Endoscopes Industry is anticipated to achieve a 6.4% CAGR increase, reaching a value of US$ 16.73 Billion by 2033, as per FMI’s analysis

Flexible Endoscopes Industry
Flexible Endoscopes Industry

The global flexible endoscopes industry growth is poised for substantial growth, with a forecasted Compound Annual Growth Rate (CAGR) of 6.4%, catapulting its market valuation to an estimated US$ 16.73 Billion by the end of 2033. The market for flexible endoscopes is anticipated to reach US$ 8.98 Billion in 2023.

The driving force behind this impressive market expansion is the escalating demand for flexible endoscopes, particularly in the realm of gastrointestinal examinations. As populations worldwide witness an enhancement in their overall standard of living, there has been a notable upswing in expenditure on medical services and infrastructure.

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The increased prevalence of chronic diseases has contributed to a global consciousness regarding the importance of routine check-ups and early disease diagnosis. This heightened awareness is steering individuals towards seeking medical intervention, fostering the demand for flexible endoscopes as a crucial tool in the diagnostic process.

Moreover, the growing geriatric population, which is more prone to various gastrointestinal conditions, has propelled the demand for these endoscopes globally. Governments and healthcare organizations are also increasingly investing in upgrading medical facilities, thereby fostering the expansion of the flexible endoscopes market.

In recent years, the market has witnessed the introduction of novel endoscope designs, such as disposable and single-use endoscopes, which offer cost-effectiveness and eliminate the risk of cross-contamination. These advancements have further expanded the market’s reach, especially in developing regions where healthcare infrastructure is rapidly evolving.

Key Takeaways:

  • In numerous chronic disease conditions, many medical professionals advise early-stage diagnosis, which is anticipated to augment the demand for flexible endoscopes with lightning speed. These devices allow invasive procedures to become easier for medical practitioners to perform accurate diagnoses and make treatment less painful for patients.
  • The requirement for flexible endoscopes is anticipated to increase as a result of hospitals and medical facilities investing heavily in the setup of flexible endoscope cameras using smartphone technology.
  • Veterinary flexible endoscopes have drastically become popular among veterinarians in the field of animal care as animal husbandry commercialization and pet ownership have increased, especially in developed nations.
  • The elevating demand for minimally invasive procedures has significantly increased over the past decade. Owing these procedures employed can effectively reduce the number and size of cuts or incisions performed on the body.
  • Endoscopies are known to be minimally invasive medical procedures that enter the body through openings. Endoscopies have therefore been widely utilized for diagnostic purposes around the world. This causes the need for flexible endoscopes to soar, which in turn fuels the expansion of the market under study offering lucrative opportunities to the market players.

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Competitive Landscape:

The flexible endoscopes market is known to be fragmented owing to the large number of manufacturers functioning in it. Furthermore, key market players are focusing on acquisitions, collaborations, and product certifications to expand their product portfolios and increase sales across the globe.

Key Companies Profiled:

  • Becton, Dickinson and Company
  • Boston Scientific Corporation
  • Cooper Surgical
  • Endomed Systems
  • Fujifilm Corporation
  • Hoya Corporation
  • Karl Storz
  • Laborie Medical Technologies
  • Olympus Corporation
  • Richard Wolf GmbH
  • Stryker Corporation
  • Smith & Nephew, Inc.

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Key Segments Covered in Flexible Endoscopes Industry Research

By Product:

  • Upper Gastrointestinal Endoscope
    • Upper Gastrointestinal Videoscopes
    • Upper Gastrointestinal Fiberscopes
  • Colonoscopes
    • Video Colonoscopes
    • Fiber Colonoscopes
  • Bronchoscopes
    • Video Bronchoscopes
    • Fiber Bronchoscopes
  • Sigmoidoscopes
    • Video Sigmoidoscopes
    • Fiber Sigmoidoscopes
  • Laryngoscopes
    • Video Laryngoscopes
    • Fiber Laryngoscopes
  • Duodenoscopes
    • Video Duodenoscopes
    • Fiber Duodenoscopes
  • Nasopharyngoscopes
    • Video Nasopharyngoscopes
    • Fiber Nasopharyngoscopes
  • Rhinoscopes
    • Video Rhinoscopes
    • Fiber Rhinoscopes
  • Neuroendoscope
  • Cystoscopes
    • Video Cystoscopes
    • Fiber Cystoscopes
  • Laparoscopes
    • Video Laparoscopes
    • Fiber Laparoscopes
  • Other Flexible Endoscope

By Application:

  • Gastrointestinal (GI) Endoscopy
  • Laparoscopy
  • Arthroscopy
  • Obstetrics/Gynecology Endoscopy
  • Urology Endoscopy (Cystoscopy)
  • ENT Endoscopy
  • Bronchoscopy
  • Mediastinoscopy
  • Others

By End User:

  • Hospitals
  • Ambulatory Surgery Centers
  • Specialty clinics

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East and Africa

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About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Gamma Probe Devices Industry is set for substantial growth 9.8% CAGR, reaching US$ 244.3 Million by 2033, primarily driven by the surge in cancer cases | FMI

Gamma Probe Devices Industry
Gamma Probe Devices Industry

The global gamma probe devices industry demand is poised for remarkable growth, with a projected valuation of US$ 86.9 Million by the close of 2023, and an anticipated Compound Annual Growth Rate (CAGR) of 9.8%, propelling it to an impressive valuation of approximately US$ 244.3 Million by 2033. These insights are derived from a comprehensive study conducted by Future Market Insights.

The study highlights the prominence of trolley-mounted devices, emerging as the frontrunners in the market, commanding an expected market share of 38.7% in 2023. This indicates a significant market preference for these devices within the global landscape.

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“We are witnessing a dynamic shift in the market landscape, and the robust growth trajectory is indicative of the increasing demand for trolley-mounted devices,” says, gamma probe devices market at Future Market Insights. “The versatility and efficiency offered by these devices have positioned them as leaders in the industry, catering to diverse applications across sectors.”

Sentinel node biopsy is used for determining if the tumor has metastasized or spread to newer places. Such biopsies happen to be common for staging melanoma and breast cancer; and are also turning out to be popular with regards to staging the other forms of cancer. The radionuclide or carrier substance like Nano colloid or technetium-99m or sestamibi are used in the form of tracer for the gamma probe device.

The IAEA (International Atomic Energy Agency) states that parathyroid detection is growing at an alarming rate with upcoming intraoperative usage of gamma probes for direct detection of tumor.

The World Cancer Research Fund International confirms that breast cancer is amongst the most common cancer at the global level in the females and second-seeded of all, with over 2000K novel cases getting diagnosed every single year. These figures are expected to take the gamma probe devices market by storm in the upcoming period.

The ongoing trend is that of launching click-on gamma probe; which is seen as a healthy step toward 100% integration of radio guidance on the count of surgery. The DROP-IN (tethered) gamma-probe concept facilitates detector to match levels of freedom of robotic instruments as well as enables autonomous control by operating surgeon.

At the same time, higher installation and maintenance costs linked with gamma probe devices are bound to hamper the gamma probe devices market in the forecast period.

Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Gamma Probe Devices Market’. It has its team of analysts and consultants to look through, with 360-degree view across macros and micros.

Key Takeaways from Gamma Probe Devices Market:

  • North America holds a significant market share with the US being subject to concentration on improvising on flexibility, throughput, and productivity. Nuclear therapies’ frequency is increasing due to remarkable investments in research on this count.
  • Europe stands second with Germany leading from the front. This could be credited to well-established players being present over here along with rising spending on healthcare.
  • The Asia-Pacific is expected to grow at a rapid pace in the gamma probe devices market in the forecast period with China dominating the scene. This could be reasoned with growing frequency of chronic ailments.

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Competitive Devices:

  • Southern Scientific, in October 2021, entered into collaboration with Helgeson. The latter comes across as a producer of various detectors, equipment, and area monitors with more than 3 decades of experience in nuclear therapy.
  • KUBTEC, in May 2022, did acquire Wprobe Technology from ‘Oncovision’s firm’. The technology is looked upon as a gold standard in the radio-guided surgery and does involve a spectrum of wireless gamma probes to identify sentinel lymph node.
  • Lightpoint Medical, in February 2022, did report that Dr. Doug Adams (one of the specialists in robotic thoracic surgery at Bethesda North Hospital (part of TriHealth, Ohio)) performed the first of its kind lung procedure with SENSEI (new miniature robotic gamma probe).

What does the Report probe?

  • The research study is based on modality (handheld device, benchtop device, and trolley mounted device), by application (thyroid uptake and sentinel lymph node uptake (breast cancer, melanoma, colon cancer, NSCLC, renal cancer, and others), and by end-user (hospitals, ASCs (Ambulatory Surgical Centers), and specialty centers and clinics).
  • With growing awareness regarding advantages of gamma radiation over traditional detection methods such as X-Rays, the global gamma probe devices market is expected to stand in a good stead in the near future.

Key Companies Covered:

  • Biodex Medical Systems, Inc.
  • CAPINTEC, INC.
  • Crystal Photonics GmBH
  • Devicor Medical Products, Inc (Mammotome)
  • Dilon Technologies, Inc
  • Gamma Medical Technology
  • Intramedical Imaging
  • Intramedical Imaging
  • KUB Technologies
  • L’ACN – l’Accessorio Nucleare
  • Mammotome
  • NUCLEAR MEDSYSTEMS
  • Oncovision
  • Southern Scientific Ltd.

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Key Market Segments Covered in Gamma Probe Devices Industry Research:

Modality:

  • Hand Held Device
  • Benchtop Device
  • Trolley Mounted Device

Application:

  • Thyroid Uptake
  • Sentinel Lymph Node Uptake
    • Breast Cancer
    • Melanoma
    • Colon Cancer
    • NSCLC
    • Renal Cancer
    • Others

End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Centers and Clinics

Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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 Micropump Industry is forecasted to achieve US$ 12.8 Billion by 2033, riding on an impressive 18.4% CAGR | FMI

Micropump Industry
Micropump Industry

The global micropump industry demand is poised for remarkable growth, projected to achieve a market valuation of US$ 12.8 billion by 2033, with a compound annual growth rate (CAGR) of 18.4%. This surge is driven by the increasing adoption of micropumps across diverse sectors, including biotechnology & pharmaceutical companies, hospitals & diagnostic centers, and academic & research institutes.

Micropumps play a pivotal role in various applications within these industries, contributing to their widespread use. In particular, micropumps are integral in hormone treatment, pain and wound-care management, and the precise injection of glucose and drugs. The rising demand for micropumps in these critical applications is expected to fuel the expansion of the micropump industry in the years to come.

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One significant driver of this growth is the development of new therapies for cancer treatment, which necessitates the utilization of advanced micropump sets. The evolving landscape of healthcare and the increasing emphasis on precision medicine are further propelling the market growth.

Furthermore, advancements in microelectromechanical systems (MEMS) technology have played a pivotal role in driving the growth of the micropump market. MEMS-based micropumps offer reduced power consumption, smaller form factors, and higher reliability, making them ideal for various applications where space and power constraints are critical.

The microfluidics and lab-on-a-chip industries are also driving the demand for micropumps. These pumps enable precise handling and manipulation of small volumes of fluids in research and diagnostic processes, facilitating rapid and accurate analysis.

As the focus on environmental monitoring and point-of-care diagnostics increases, the micropump market is expected to witness further expansion. The ability of micropumps to deliver small quantities of reagents and samples with minimal wastage makes them invaluable in environmental monitoring devices and point-of-care diagnostic systems, where efficiency and resource conservation are paramount.

Key Takeaways from Micropump Market:

  • North America holds more than 40% of the market share. This could be attributed to higher purchasing power of the US citizens, robust support from the government regarding quality healthcare, presence of top-notch infrastructure for laboratory and clinical research, and higher adoption of various technologically advanced products.
  • The Asia-Pacific is expected to grow at the fastest rate in the micropump market due to upgradation in healthcare infrastructure all across India and China. Singapore and Malaysia are already doing well with respect to medical tourism.
  • Europe is expected to hold a significant market share with countries like Belgium, The Netherlands, and Denmark being at the forefront.

“Micropumps have evolved since the last few years through numerous techniques through advancements in electronic and digital capabilities”, says an analyst from Future Market Insights.

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Competitive Micropumps:

  • Bartels Mikrotechnik GmbH, in January 2022, tabled mp6 series. They comprise mp6-Liq, mp6-gas+, and mp6-gas.
  • Sensile Medical AG (Gerresheimer’s subsidiary), September 2018, received EU certification. One of the European companies achieved CE declaration of conformity for micro-rotary pump used for treating advanced Parkinson’s disease.
  • TTP Ventus, in June 2019, launched the LT series for serving applications while demanding operational life requirements all across medical, life science, environmental, and industrial sectors.
  • Cole-Parmer India Pvt. Ltd., after successfully testing shear-sensitive and pumping live cells fluids, released the high-end micropump head series. They were named ‘Masterflex L/S Cytoflow Pump head”.
  • Biochem Fluidics, in July 2017, released Maestro ULTRA piston pump, Perialistic Pumps, Opus Rocker Valves.
  • Backtrace has its Dolomite Bio, which is known for specialization in microfluidic droplet applications that offer individual modules and microfluidic systems, reagents, and control software for applications pertaining to cell biology.

The National Institute of Biomedical Imaging and Bioengineering, in October 2020, came up with Point-of-Care Technologies Research Network for driving development of the point-of-care technologies.

Medtronic, in March 2022, tabled MiniMed 780 G systems all across India.

What does the Report Cover?

Future Market Insights offers an exclusive perspective and various real-time insights on the micropump market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.

List Encompassing Key Players Operating in Micropump Industry:

  • LEE Ventus
  • Sensile Medical
  • Cole-Parmer India Pvt Ltd
  • IDEX
  • Dolomite Microfluidics
  • The Lee Company
  • Gardner Denver
  • Takasago Electric, Inc.
  • Halma Plc
  • Servoflo Corporation

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Market Segments Covered in Micropump Industry Analysis:

By Product Type:

  • Mechanical Micropump
    • Piezoelectric Micropump
    • Peristaltic Micropump
    • Others
  • Non-mechanical Micropump

By Application:

  • Drug Delivery
  • In-vitro Diagnostics
  • Medical Devices
  • Others

By End User:

  • Biotechnology & Pharmaceutical Companies
  • Hospitals & Diagnostic Centers
  • Academic & Research Institutes

By Region:

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

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: 
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Medical Packaging Paper Market Trends: Industry Size, Regional Analysis, Future Scope and more

P.R Bags & Packaging Paper Bags Paper Medicine Pouch (PACK OF 50) :  Amazon.in: Home & Kitchen

Medical packaging paper refers to specialized paper materials designed and manufactured for use in the healthcare and medical industry to package and protect medical devices, pharmaceuticals, and other healthcare products. These papers are chosen for their unique characteristics that ensure sterility, safety, and compliance with regulatory standards.

Anticipated to witness robust growth, the medical packaging paper market is projected to achieve a Compound Annual Growth Rate (CAGR) of 6.0% throughout the forecast period from 2021 to 2031. This positive trajectory is propelled by ongoing advancements and the adoption of cutting-edge technologies, particularly the introduction of innovative products such as medical-grade packaging papers and 3D packaging technology.

The continuous development and integration of these new technologies are poised to open up fresh avenues of growth for manufacturers and providers operating in the global medical packaging paper market. Medical-grade packaging papers, designed specifically for healthcare applications, contribute to enhanced safety, sterility, and compliance with regulatory standards. These papers play a pivotal role in safeguarding medical devices, pharmaceuticals, and other healthcare products.

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Driving Factors

Medical packaging paper demonstrates versatility across a myriad of applications, serving as a critical component in the creation of paper-to-paper and paper-to-film flexible pouches, lidded rigid trays, and OEM form fill and seal packaging. It plays an integral role in blister packaging applications, encompassing prescription and over-the-counter medications, as well as vitamins and supplements.

The market for medical packaging paper is poised for significant expansion, driven by a confluence of factors that underscore its indispensable role in the healthcare and pharmaceutical sectors. High-strength and high-barrier papers are emerging as key contributors, offering the potential to reduce manufacturing costs while maintaining the stringent requirements for packaging integrity and protection.

Exploration of medical packaging paper:

  1. Sterilization Compatibility:
  • Medical packaging paper is often compatible with various sterilization methods such as gamma radiation, ethylene oxide (EtO) gas, and steam sterilization. This ensures that medical devices and instruments remain sterile until they are ready for use.
  1. Barrier Properties:
  • Effective medical packaging paper possesses barrier properties to protect against moisture, bacteria, and other contaminants. This is crucial in maintaining the integrity of the packaged medical products.
  1. Compliance with Regulations:
  • Medical packaging paper is designed to meet stringent regulatory requirements imposed by health authorities. Compliance ensures that the packaging materials are suitable for use in the healthcare and pharmaceutical sectors.
  1. Printability for Identification:
  • Many medical packaging papers are designed to be printable, allowing for clear labeling and identification of the packaged products. This is essential for accurate tracking, inventory management, and adherence to regulatory guidelines.
  1. Tear Resistance:
  • Tear resistance is a vital characteristic of medical packaging paper to ensure that the packaging remains intact during handling, transportation, and storage. This feature is especially important for sterile barrier systems.

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Key Players

  • Twin Rivers
  • Domtar Corporation
  • Bomarko Inc.
  • PMS International
  • Amcor plc
  • KJ Specialty Paper Co., Ltd.
  • Oliver Healthcare Packaging, LLC, and others.

Key Segments

By Material:

  • Polymer
  • Paper & Paperboard
  •  Others

By Packaging Type:

  • Trays
  • Boxes
  • Pouches & Bags
  • Others

By Applications:

  • Flexible Pouch
  • OEM Form Fill
  • Seal Packaging
  • Industrial
  • Others

By Region:

  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • BENELUX
    • Russia
    • Rest of Europe
  • East Asia
    • China
    • Japan
    • South Korea
  • South Asia & Pacific
    • India
    • Thailand
    • Indonesia
    • Malaysia
    • Australia & New Zealand
    • Rest of South Asia & Pacific
  • Middle East & Africa
    • GCC Countries
    • Turkey
    • South Africa
    • Rest of Middle East and Africa

About Future Market Insights (FMI)

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

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Global Cell Culture Industry is forecasted to achieve a valuation surpassing US$ 88.6 Billion by 2033, as per FMI’s forecast

Cell Culture Industry
Cell Culture Industry

The global cell culture industry growth has seen substantial growth and is projected to continue its upward trajectory, reaching an estimated valuation of around US$ 88.6 billion by 2033. This surge follows the industry’s impressive strides, from touching a valuation of US$ 25.4 billion in 2022 to reaching US$ 29.0 billion in 2023.

The forecasted compound annual growth rate (CAGR) of 11.8% between 2023 and 2033 underscores the remarkable expansion expected within the cell culture sector. This growth surge is attributed to the escalating demand for biopharmaceuticals, including critical vaccines and stem cells, alongside a significant uptick in research and development initiatives.

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The burgeoning need for biopharmaceuticals has fueled the expansion of the cell culture market. As the healthcare landscape continually evolves, the market has responded with increased production to meet the demand for these essential medical advancements.

The cell culture market growth is primarily driven by the increasing demand for biopharmaceutical products and the need for personalized medicine. As the prevalence of chronic diseases rises, pharmaceutical companies are investing heavily in cell culture technologies to develop novel therapies and improve existing ones. Additionally, the expansion of regenerative medicine and tissue engineering applications has further fueled the demand for advanced cell culture techniques.

Technological advancements and innovative solutions are also propelling the market forward. Researchers are continuously developing improved culture media, bioreactors, and 3D cell culture systems to mimic the in vivo conditions more accurately. These developments enhance cell viability, productivity, and overall efficiency, meeting the growing requirements of the biotechnology and pharmaceutical sectors.

Moreover, the increasing focus on stem cell research and the potential of cell-based therapies are contributing significantly to the market’s growth. Stem cells hold immense promise for treating various degenerative disorders and repairing damaged tissues. As a result, both academic and commercial organizations are investing extensively in stem cell research and its applications.

As per FMI, the key market drivers during the forecast period are:

  • Acceleration in the pace of research and development activities aiding mass production of biopharmaceuticals
  • Rising demand for advanced cell culture-based products
  • Wide utility across pharmaceutical companies, research institutes, and food development
  • Chronic diseases that warrant innovations in biopharmaceuticals
  • Rising consumer demand for monoclonal antibodies (mAbs)

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Cell Culture Application in Pharma & Health is Key to Market Growth:

At the moment, innovations are fueling market expansion. The need for sophisticated versions of cell culture products is growing as a result of significant investments made by various end-user groups in this area. Similar to how biosimilars have a favourable impact on market prospects, there is a rising need for innovative therapies.

All of these elements have worked together to carve out a specific application for cell culture in the pharmaceutical and healthcare industries. This is mostly brought on by the steady increase in cardiovascular, renal, and cancer disorders. Cell culture can open up lucrative opportunities for the pharmaceutical and healthcare industries to flourish as consumer demand for cutting-edge treatment solutions rises.

Key Takeaways from the Report:

  • Between 2017 and 2022, the market recorded a CAGR of 13.5%, attaining a valuation of US$ 25.4 billion by 2022.
  • During the forecast period, the United States market is projected to expand at a CAGR of 11.6% and reach a valuation of US$ 31.4 billion by 2033.
  • Between 2023 and 2033, the United Kingdom market is expected to record a CAGR of 10.9%, to attain a valuation of US$ 3.7 billion by 2033.
  • The consumables segment is projected to register a CAGR of 11.4% during the forecast period.
  • The biopharmaceutical production segment is anticipated to witness a CAGR of 11.1% during the forecast period.

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Key Market Developments:

  • In January 2022, Cytiva (Danaher Corporation) announced its collaboration with Nucleus Biologics. This can be an important step towards developing custom culture media for cell as well as gene therapies.
  • In February 2022, KromaTiD enhanced its services by venturing into cell and blood culture isolation, and processing, coupled with quality control services

Key Players:

  • Danaher Corporation
  • Thermo Fisher Scientific
  • Becton
  • Dickinson and Company
  • Corning Incorporated
  • Merck KgaA
  • PromoCell GmbH
  • Sartorius AG

Key Segments:

By Product:

  • Consumables
    • Sera
    • Media
    • Reagents
    • Vessels
    • Accessories
  • Equipment
    • Supporting Equipment
    • Bioreactors
    • Storage Equipment

By Application:

  • Biopharmaceutical Production
    • Monoclonal antibodies
    • Vaccines production
    • Other therapeutic proteins
  • Diagnostics
    • Drug Screening & Development
      • Tissue Engineering & Regenerative Medicine
    • Cell and gene therapy
  • Others

By End User:

  • Pharmaceutical & Biotechnology Companies
  • Hospitals & Diagnostic Laboratories
  • Research & Academic Institutes
  • Others

By Region:

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

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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.

Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain:

3D Cell Culture Market Size: The 3D cell culture market size is projected to be worth US$ 1.26 billion in 2023. The market is likely to reach US$ 3 billion by 2033. The market is further expected to surge at a CAGR of 9% during the forecast period 2023 to 2033.

Cell Culture Incubator Market Share: The global cell culture incubator market is expected to be valued at US$ 2,315.5 million in 2023, and is projected to reach US$ 4,305.1 million by 2033. A CAGR worth 6.4% is expected for the market during the 2023 to 2033 forecast period.

Cell Culture Media Market Growth: The cell culture media market size is projected to be valued at US$ 3.3 billion in 2023 and is expected to rise to US$ 6.4 billion by 2033. The sales of cell culture media are expected to expand at a significant CAGR of 7.0% during the forecast period.

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,
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T: +1-845-579-5705
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Global Gastrointestinal Stent Industry is set for substantial growth, reaching an impressive US$ 815.34 Million by 2033 | FMI

Gastrointestinal Stent Industry
Gastrointestinal Stent Industry

As per recent market projections, the global gastrointestinal stent industry demand is on an upward trajectory, poised to achieve a significant valuation of US$ 476.72 Million by the close of 2023. The market’s growth momentum is projected to continue through the forecast period, with a Compound Annual Growth Rate (CAGR) of 5.5%, positioning it to surpass expectations and reach a substantial market value of approximately US$ 815.34 Million by 2033.

This robust growth is attributed to several factors, including advancements in medical technology, an aging population, and an increased prevalence of gastrointestinal disorders globally. Gastrointestinal stents have emerged as crucial medical devices, playing a pivotal role in addressing various conditions affecting the digestive system, such as obstructions, strictures, and cancers.

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The forecasted growth underscores the expanding demand for innovative and minimally invasive medical interventions. Gastrointestinal stents offer patients a less invasive alternative to traditional surgical procedures, leading to reduced recovery times and improved overall outcomes.

This anticipated market surge is expected to drive further research and development initiatives within the gastrointestinal medical device sector, fostering innovation and introducing advanced stent technologies. Industry leaders and stakeholders are gearing up to capitalize on this burgeoning market by investing in research, product development, and strategic collaborations.

As the industry evolves, stakeholders, including healthcare providers, medical device manufacturers, and investors, are closely monitoring these trends and opportunities within the gastrointestinal stent market.

The projected market growth not only signifies substantial opportunities for industry players but also highlights the potential to enhance patient care through advanced medical interventions. The evolution of gastrointestinal stents reflects the ongoing commitment to improving healthcare outcomes and quality of life for patients worldwide.

Key Takeaways:

  • Due to the increasing prevalence of chronic liver disease and the increase in the number of surgical procedures for the treatment of biliary diseases, the biliary stents segment is likely to account for the largest gastrointestinal stents market share as per the product type.
  • Based on material, self-expanding metal stents are expected to lead the market. The same can be credited to benefits such as ease of insertion, a lower possibility of dislodgment or migration, and longer patency.
  • During the forecast period, the gastrointestinal cancers segment is anticipated to have the highest CAGR attributed to the increased prevalence and incidence, thereby positively impacting the gastrointestinal stents market trends.
  • The hospitals and clinics segment will be at the forefront of the market, owing to many endoscopic retrograde cholangiopancreatographies (ERCP) and percutaneous transhepatic cholangiography (PTC) procedures performed in hospitals for various disease indications.

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 “In terms of market share and revenue, North America is predicted to dominate the gastrointestinal/GI stent market and will maintain its dominance throughout the forecast period on account of a sophisticated level of healthcare facilities, a rising geriatric population, high incidence of gastrointestinal diseases, favorable reimbursement scenario, and presence of key market players such as C.R. Bard (US), and Becton, Boston Scientific Corporation (US), Dickinson and Company.” opines an FMI researcher.

Competitive Landscape:

Among the prominent players in the GI, stents market are

  • Boston Scientific Corporation
  • Hobbs Medical Inc.
  • Taewoong Medical
  • Micro–Tech (Nanjing) Co., Ltd.
  • Olympus Corporation
  • Merit Medical Systems
  • Qualimed
  • Medtronic
  • Conmed Corporation
  • Terumo Corporation
  • Johnson & Johnson Services, Inc.,

The gastrointestinal stent market is moderately competitive, with numerous gastrointestinal stents market opportunities. In addition, the increasing prevalence of diseases associated with gastrointestinal tract stent placement is driving up demand for gastrointestinal stents.

As a result, several global corporations are implementing various strategies to reach out to emerging economies such as product launches, mergers, acquisitions, partnerships, collaborations, etc.

Some of the recent developments in the gastrointestinal stents market are:

  • Cook Medical worked with Taewoong Medical to expand patient treatment options by distributing a variety of Taewoong’s stents in the United States. The Niti-STM Through the Scope (TTS) Esophageal Stent, the flagship product of the South Korean company’s Niti-S Self-Expandable line of the metal gastrointestinal stent, is included in this distribution collaboration.
  • Olympus has proposed a couple of self-expanding metal stents (SEMS) to be used as palliative measures in patients with a short life expectancy or who have malignant colonic or duodenal obstruction.

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Key Market Segments Covered in Gastrointestinal Stent Industry Research:

By Product:

  • Biliary Stents
  • Duodenal Stents
  • Colonic Stents
  • Pancreatic Stents
  • Esophageal Stents

By Material:

  • Self–Expanding Metal Stents
  • Plastic Stents

By Application:

  • Biliary Diseases
  • Irritable Bowel Syndrome
  • Gastrointestinal Cancers
  • Colorectal Cancer
  • Stomach Cancer
  • Esophageal Cancer
  • Pancreatic Cancer

By End User:

  • Hospitals and Clinics
  • Ambulatory Surgical Centers

By Region:

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

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About Future Market Insights (FMI)

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

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Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
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Global Aspiration & Biopsy Needle Industry is set to achieve a US$ 1,405.2 million by 2033, emphasizing significant opportunities for growth | FMI

Aspiration & Biopsy Needle Industry
Aspiration & Biopsy Needle Industry

The global aspiration & biopsy needles industry demand is on an upward trajectory, as per the latest insights from Future Market Insights (FMI). The market, estimated at US$ 777.29 million in 2023, is anticipated to expand significantly and hit a valuation of US$ 1,405.2 million by 2033, exhibiting a Compound Annual Growth Rate (CAGR) of 6.1% over the forecast period.

The increasing demand for minimally invasive procedures, coupled with technological advancements in healthcare, is driving the growth of the aspiration and biopsy needles market. These needles play a crucial role in diagnostic and therapeutic procedures, contributing to their rising adoption across various medical fields.

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“The forecasted market expansion indicates a burgeoning need for advanced medical devices and a growing preference for less invasive diagnostic procedures,” stated a spokesperson from Future Market Insights.

Aspiration and biopsy needles find extensive application in oncology, interventional radiology, and other specialties, aiding in precise tissue sampling and diagnosis. The market growth is further fueled by the escalating prevalence of cancer and chronic diseases worldwide, emphasizing the importance of early and accurate diagnosis for improved patient outcomes.

FMI’s comprehensive analysis highlights the evolving landscape of the aspiration and biopsy needles market, indicating opportunities for manufacturers, healthcare providers, and investors to capitalize on this growth trend.

Top Highlights from the FMI’s Analysis of the Aspiration & Biopsy Needles Market: 

  • North America represented 34% market share in 2022. The regional market is projected to lead the market over the upcoming years. This can be attributed to the strong presence of market participants in the region. The introduction of new product lines and higher accessibility to treatment facilities in North America is pushing the market growth.
  • Europe demonstrated a 26% overall market share. The industry growth has been catalyzed by many research and development activities and studies.
  • Hospitals are expected to capture a significant portion of the market. In 2022, the segment acquired 46% of the market. Building upon the prior growth, the future market scope of the segment looks bright.
  • The core biopsy needles segment attained a 58.60% market share in 2022. The demand graph of this product segment is projected to show an upward trend.
  • India is expected to grow at lightning-bolt speed in the coming years. FMI has predicted an 8.3% CAGR for India from 2023 to 2033.

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Keeping Abreast with the Market Ongoings: Market News

  • Micro-Tech Endoscopy strives to develop high-quality products for endoscopic diagnosis. In October 2021, the company released an improved version of EUS needles, such as Trident FNB and Areus FNA.
  • NeoDynamics AB is a MedTech company, which is devoted to enhancing breast cancer treatment and diagnosis. The company’s patent for a biopsy needle got approved in the United States, in August 2021, to be used in NeoNavia FlexiPulse probe.
  • In January 2019, IZI Medical Products procured the needle product line of soft tissue biopsy and breast localization of Cook Medical.

Key Players in the Market:

  • Merit Medical Systems
  • Cook Group Incorporated
  • Olympus Corporation
  • Medtronic PLC
  • Argon Medical Devices Inc.
  • Boston Scientific Corporation
  • Cardinal Health Inc.
  • Conmed Corporation
  • Inrad Inc.

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Key Segments:

By Product Type:

  • Biopsy Needles
  • Aspiration Needles

By Application:

  • Tumor/Cancer Applications
  • Wound Applications
  • Other Applications

By Procedure:

  • Image-guided Procedures
  • Non-image-guided Procedures

By End User:

  • Hospitals & Surgical Centers
  • Diagnostic Clinics & Pathology Laboratories
  • Ambulatory Care Centers
  • Research & Academic Institutes

By Region:

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

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
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Global Lateral Flow Assays Industry is at the helm of the infectious disease detection revolution, paving the way for a US$ 6.9 billion future by 2033

Lateral Flow Assays Industry
Lateral Flow Assays Industry

It is projected that the global lateral flow assays industry demand will grow to US$ 6.9 billion by 2033 and US$ 4.3 billion in 2023. Sales of lateral flow assays are expected to increase at a CAGR of 4.7% over the projected period. A summary of some of the factors influencing the need for lateral flow assays is provided below.

The lateral flow assays market has grown and changed significantly in recent years. These tests, also known as immunochromatographic assays or strip tests, are frequently employed in a variety of fields, including veterinary diagnostics, food safety, healthcare, and environmental monitoring. The rising incidence of infectious diseases, the necessity for rapid and point-of-care testing, and the rising demand for user-friendly and affordable diagnostic solutions are the main drivers propelling the growth of this market.

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Because they can deliver prompt and accurate findings, lateral flow tests have become extremely popular in the healthcare industry and are excellent for identifying a variety of infectious disorders, including HIV, malaria, and COVID-19. These tests are also extremely useful in resource-constrained settings and remote locations where access to cutting-edge laboratory facilities may be restricted because to their mobility and ease of usage.

The food safety industry has also embraced lateral flow assays as a rapid and efficient method for detecting contaminants and allergens in food products. These tests help in ensuring food quality and safety by enabling quick and on-site testing, preventing the distribution of contaminated food and potential outbreaks of foodborne illnesses.

Environmental monitoring applications have seen an upsurge in the adoption of lateral flow assays as well. These tests play a crucial role in detecting pollutants, toxins, and hazardous substances in environmental samples, contributing to better pollution control and risk assessment.

The veterinary diagnostics segment is another key area where lateral flow assays are making a positive impact. These tests facilitate the rapid and accurate detection of various animal diseases, enhancing early diagnosis and timely treatment, ultimately leading to improved animal health and productivity.

Key Takeaways:

  • The Kits & Reagents segment is anticipated to grow at a rapid CAGR of 5.3% during the forecast period.
  • The clinical testing segment accounted for 90.9% of the lateral flow tests market.
  • With a lateral flow tests market share of 70.9% in 2020, sandwich assays dominated the lateral flow tests market.
  • Blood samples were the most preferred, with a 53.1% lateral flow tests market share.
  • The hospitals and clinics segment was the most favoured, with a lateral flow tests market share of 37.6%.
  • China, the world’s second-largest economy, is expected to reach a lateral flow tests market size of US$917 million in 2027, with an annual growth rate of 8.8%.
  • Within Europe, Germany is expected to show a lateral flow tests market growth at a 4.8% compound annual growth rate (CAGR), while the rest of the European market will reach US$917 million by 2027.
  • The Asia Pacific region is expected to increase at a CAGR of 4.2% during the forecast period.

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Competitive Landscape:

Some companies have increased their lateral flow tests market share through various strategies such as mergers and acquisitions. In contrast, others invent new diagnostic market test methods and provide innovative goods to maintain their market share.

  • Abbott Laboratories
  • Becton, Dickinson and Company
  • Biomérieux SA
  • Bio-Rad Laboratories
  • Danaher Corporation
  • F Hoffmann-La Roche Ltd.
  • Merck
  • Quidel Corporation
  • Siemens Healthineers AG
  • Thermo Fisher Scientific Inc.

Key Segments Covered in the Market Report:

By Application:

  • Clinical Testing
  • Veterinary Diagnostics
  • Food Safety & Environmental Testing
  • Drug Development & Quality Testing

By Technique:

  • Sandwich Assays
  • Competitive Assays
  • Multiplex Detection Assays

By Sample Type:

  • Blood Samples
  • Urine Samples
  • Saliva Samples
  • Others
  • By Type
  • Kits & Reagents
  • Lateral Flow Readers

By End User:

  • Hospitals & Clinics
  • Diagnostics Laboratories
  • Home Care Settings
  • Pharmaceuticals & Biotechnology Companies
  • Others

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About Future Market Insights (FMI)

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