Market Research Blog – Page 4298 – New Product Development

Blood Warmer Devices Industry Set to Soar to US$937.5 Million by 2032, Bolstered by a Resilient 7.6% CAGR | FMI Analysis

The global blood warmer devices industry is on a promising trajectory, with an anticipated valuation of US$ 451.2 Million in 2022. This growth is poised to continue at a robust CAGR of 7.6% from 2022 to 2032, projecting a market worth approximately US$ 937.5 Million by the close of 2032. Notably, intravenous warming systems, accounting for around 47.1% of the market share in 2021, lead the market in terms of products.

The expansion of the blood warmer devices market is underpinned by the increasing incidence of conditions such as hypothermia, characterized by a dangerous drop in body temperature. This condition often arises when the body loses heat faster than it can generate it, causing the temperature to fall below 35°C. Prolonged exposure to extreme cold, neonatal vulnerability, aging populations, and various medical conditions like dementia, hypothyroidism, and low blood sugar contribute to the prevalence of hypothermia. Trauma patients, in particular, face a heightened risk of hypothermia, further bolstering the market’s growth prospects.

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Hypothermia has become very common and causes major complications, this is driving the demand for blood warmer devices. Since these devices can help in preventing complications during the blood transfusion process the demand is expected to grow in the future. Companies are also investing in the research and development of portable and smart blood-warming devices. Manufacturers are also working on new business strategies in order to launch a new product. Partnerships and collaborative activities are also on the rise. The demand for disposable blood and fluid warmer devices is also increasing, due to the rise in a number of complications.

Key Market Players Competing to Sustain in the Market

The report offers a detailed profile of some of the key market players in the global blood warmer devices market such as 3M Company, Smiths Medical, The 37 Company, GE Healthcare, Emit Corporation, Stryker Corporation, Geratherm Medical, Barkey GmbH & Co. KG, Stihler Electronic GmbH, Biegler GmbH, Belmont Instrument, Keewell Medical Technology Co. Ltd., and Baxter International Inc. (Gambro). These key players are continuously working on new business strategies to offer better product and compete in the global market.

Forecast Highlights on the Global Blood Warmer Devices Market

The global blood warmer devices market is segmented on the basis of end user, product type, application, and region. Based on the product type, the segment includes intravenous warming system, surface warming system and blood warming accessories. Among these, surface warming system is expected to be the widely accepted product in the global blood warmer devices market. By the end of 2026, surface warming system is estimated to surpass US$ 100 million revenue.

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On the basis of end user, the segmentation consists of hospitals, blood banks, home care settings and others. Hospitals are expected to be the largest users of the blood warmer devices. By the end of 2017, hospitals are estimated to account for nearly two-third of the revenue share.

Based on the application, the market is segmented into home care, preoperative care, acute care, new born care and other application. Blood warming devices are expected to find the largest application in the preoperative care. By the end of 2026, preoperative care segment is estimated to reach nearly US$ 100 million revenue.

Geographically, the market is segmented into Europe, North America, Japan, Asia Pacific Excluding Japan (APEJ), the Middle East and Africa (MEA), and Latin America. Among these, North America is expected to dominate the global blood warmer devices market during the forecast period 2017-2026. Increasing occurrence of hypothermia among ageing population and infants in the U.S. is one of the factors driving the growth in North America. Growth in trauma cases and surgeries is also contributing towards the growth of the market in the region.

Market Taxonomy

Region

North America
Latin America
Europe
Japan
APEJ
MEA

Product Type

Intravenous Warming System
Surface Warming System
Blood Warming Accessories

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End User

Hospitals
Blood Banks
Home Care Settings
Other End Users

Application

Preoperative Care
Home Care
Acute Care
New Born Care
Other Applications

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Global Polyethylene Terephthalate Glycol (PETG) Market Set to Grow at 3.3% CAGR, Fueled by Soaring Demand in Food Packaging and Medical Sectors

Growing demand for polyethylene terephthalate glycol from food packaging and medical industries is a key factor providing impetus to the global market. According to Future Market Insights, Inc. (FMI), the global Polyethylene Terephthalate Glycol (PETG) Market sales is forecast to accelerate at 3.3% CAGR between 2023 and 2033. The total market size is likely to increase from US$ 2,747.8 million in 2023 to US$ 3,818.9 million by 2033.

Polyethylene terephthalate glycol (PETG) finds its application across diverse industries. Mainstream consumers of PETG utilize it for packaging purposes owing to its various advantages.

Food packaging, medical packaging, and cosmetic bottles are few of the most grossing application areas, which are predominantly consuming PETG across the world. 3D printing, automotive films, building and construction, and few other industries are also investing in product offerings to relish various advantages of PETG-based products.

Polyethylene terephthalate glycol possesses high impact resistance and good thermal stability that make it ideal for applications such as 3D printing. Its safe nature also makes it suitable for making food packaging such as containers and bottles.

Polyethylene terephthalate glycol is also being used as a substance for medical implants and medical packaging. Hence, widening applications across various industries will elevate PETG demand over the projection period.

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Despite such a wide array of applications and driving factors, sales prospects of PETG are witnessing sluggish growth. Implementation of carious stringent regulations over the use and disposal of PETG is hampering its growth rate. Awareness towards environment protection and plastic waste is likely to impede the growth of the market.

In order to counter this, companies are launching new innovative products that are biodegradable. For instance, recently, Bio PETG, an environmentally friendly PETG filament was launched. Development of these eco-friendly products will help the market to thrive during the next ten years.

“Widening application of PETG in medical and food industries will boost polyethylene terephthalate glycol (PETG) market over the forecast period,” said an analyst at FMI.

Key Takeaways from Polyethylene Terephthalate Glycol (PETG) Market Study

The worldwide polyethylene terephthalate glycol (PETG) industry is forecast to expand at 3.3% CAGR during the assessment period.
By application, containers/packaging segment will continue to hold a significant share of the global PETG market through 2033.
Based on end-use industry, most of the PETG demand is expected to arise from medical sector.
South Asia Pacific and East Asia are expected to collectively hold more than half of the market share in the global PETG market.
The USA polyethylene terephthalate glycol (PETG) market is forecast to exhibit a moderate CAGR during the projection period.
India is expected to remain a lucrative market for PETG over the next the years.

Who is Winning?

Clariant Ltd., Eastman Chemicals Company, Shandong Shenghe Plastic Ltd, SM Kunststofftechnologie GmbH, Integrated Packaging Films Inc., and Industrial Plastics Belgium (IPB nv) are few of the leading manufacturers of polyethylene terephthalate glycol (PETG) profiled in the full version of the report.

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Key Segments Covered in Polyethylene Terephthalate Glycol (PETG) Industry Research

By Grade:

Extruded Grade
Injection Molding Grade
Blow Molding Grade

By Application:

Prototypes
Containers/Packaging
Tools, Jigs, Fixtures
Equipment & Machinery
Others

By End-use Industry:

Food and Beverage
Cosmetics
Medical
Others

By Region:

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

More Insights into the Polyethylene Terephthalate Glycol (PETG) Market Report

In its latest report, Future Market Insights offers an unbiased analysis of the global Polyethylene Terephthalate Glycol (PETG)market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on grade, application, end-use industry, and Region.

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USA Dominates North America Tray Sealing Machines Market with 80% Market Share By 2032

The North American tray Sealing Machines Market is significantly dominated by the USA, which is anticipated to hold a remarkable 80% of the market share in the region. The USA’s prominence in importing sealing machines is attributed to its position as one of the world’s largest food markets and a top player in seafood packaging. The contamination-free packaging offered by tray-sealing machines is set to drive growth in key markets, promising a prosperous future.

The global tray sealing machines market is poised for substantial growth, with an anticipated average Compound Annual Growth Rate (CAGR) of 4.5% between 2022 and 2032. This growth is expected to propel the market’s value from a significant US$ 3.30 Billion in 2022 to an impressive US$ 5.12 Billion by 2032.

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This expansion is primarily being driven by technological advancements within the food and beverage industry. The surge in businesses focused on food packaging and innovative solutions is compelling manufacturers to adopt more efficient tray-sealing machines. These machines, often referred to as tray lidding machines, heat sealers, or top sealers, are instrumental in creating visually appealing packaging.

In the Fast-Moving Consumer Goods (FMCG) sector, there’s a substantial demand for robust packaging solutions. These tray-sealing machines play a crucial role in ensuring easy product transfer while simultaneously attracting customers with their integrated packaging solutions. Their applications extend to various sectors, including industrial fasteners, fresh produce, frozen meals, meats, and ready-made meals.

The operation of these machines involves product-filled trays moving along an in-feed conveyor, where they are indexed and spaced before being picked up by a transfer beam. The film and trays are then compressed against heated upper tooling to activate the sealing properties, simultaneously cutting the film. Once the seal dwell time has elapsed, the trays are lowered, and the next cycle is ejected to the outfeed of the machine.

There are two main categories of tray sealing machines: semi-automatic and automatic. Semi-automatic tray sealers are suitable for small and medium-sized operations, requiring manual operator assistance in the rotating tray sealing station. In contrast, automatic tray sealing machines are ideal for medium to large-scale operations, boasting the capability to seal up to an impressive 200 packs per minute. This versatility caters to a wide range of businesses in the food packaging industry, making tray sealing machines a vital component of modern packaging solutions.

Key Takeaways:

The U.S. is expected to emerge as a lucrative pocket, accounting for over 80% of share in North America tray sealing machines market through 2031. France market for tray sealing machines is forecast to grow at a CAGR of 5.0% over the forecast period 2021-2031. Germany is leading the market for tray sealing machines in Europe and is estimated to account for nearly 16.3% of Europe market through 2031. India market is projected to grow at an impressive pace, accounting for over 44.7% of South Asia market through 2031. Based on technology, the segment will account for over 72.4% of the market share in 2021.

Key Drivers

Increasing demand for modified atmosphere packaging (MAP) is influencing sales of tray sealing machines. The rapid growth of food and beverage sectors and consequent demand for sustainable packaging solutions are propelling sales of tray sealing machines.

Key Restraints

High cost associated with the installation and maintenance of tray sealing machines is anticipated to hamper sales in the market.

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Key Questions Covered in the Tray Sealing Machines Market Report

The market survey also highlights projected sales growth for tray sealing machines market between 2021 and 2031 The report offers insight into tray sealing machines demand outlook for forecast period 2021-2031. Tray sealing machines market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others Tray sealing machines market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

Competitive Landscape

Some of the leading players operating in the tray sealing machines market profiled by FMI are:

MULTIVAC, Inc. Proseal America Inc. ProMach, Inc. Harpak ULMA Packaging AptarGroup, Inc. John Bean Technologies Corporation (JBT) Omori Machinery Co., Ltd Robert Reiser & Co., Inc. Sealpac GmbH Webomatic Maschinenfabrik GmbH ILPRA SPA ORICS Industries, Inc. ISHIDA CO., LTD. Global Mondini Italianpack S.p.A Reepack SRL Rotopack srl. Valko s.r.l. Packaging Automation Limited Starview Packaging Machinery Inc.

More Valuable Insights:

FMI in its new report, offers an unbiased analysis of the global tray sealing machines market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in tray sealing machines market with detailed segmentation:

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Key Segments

By Technology:

Automatic
Semi-automatic
Manual

By Application Type:

Meat, Poultry & Seafood
Bakery & Confectionary
Fresh Produce
Ready Meals
Sweets & Dry Fruits
Others

By Operating Speed:

Upto 3 CPM
4 CPM to 8 CPM
9 CPM to 12 CPM
Above 12 CPM

By Packaging Type:

Modified Atmospheric Packaging (MAP)
Vacuum Skin Packaging (VSP)
General Sealing

By Region:

North America
Latin America
Europe
South Asia
East Asia
MEA
Oceania

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.

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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Hyaluronic Acid Products Industry Projected to Achieve US$6.8 Billion by 2033, Driven by 7.4% CAGR | FMI

The Global Hyaluronic Acid Products Industry is poised to achieve a valuation of US$ 3,343.5 million in 2023 and is anticipated to reach US$ 6,838.2 million by 2033, demonstrating a steady growth at a CAGR of 7.4% over the forecast period.

Consequently, there has been a surge in demand for minimally invasive treatments for conditions like osteoarthritis and VUR (Vesicoureteral Reflux). To address this need, manufacturers have introduced advanced intra-articular hyaluronic acid injections (IAHA), offering patients a minimally invasive approach to pain management with reduced discomfort, shorter recovery times, and decreased hospital stays.

The increasing demand for minimally invasive treatments for pain management in chronic ailments, such as osteoarthritis, has spurred major industry players to introduce innovative hyaluronic acid products into the market. Traditional treatment approaches for chronic conditions often involve invasive procedures, carrying inherent risks, especially for patients with medical comorbidities, and resulting in prolonged hospital stays.

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FMI has forecast dermal fillers to remain a key application segment, accounting for over 35% of sales in 2021. The dermatological application of hyaluronic acid also has seen a surge with the introduction of advanced dermal fillers, masks, and serums for application in restorative therapy and wrinkle augmentations.

Key Takeaways from Hyaluronic Acid Products Market Study

The hyaluronic acid products market will expand at a CAGR of 6.1% between 2020 and 2030
The U.S. will emerge as one of the leading markets, accounting for over 73% of sales in North America
The U.K. will remain one of the key markets within Europe, registering 7.7% Y-o-Y growth in 2021
The demand for Germany and France will continue rising at a positive rate
Japan will emerge as a leading market in East Asia, followed by China and South Korea

Major Key Players:

Anika Therapeutics, Inc.
Fidia Farmaceutici S.p.A.
Sanofi
Ferring B.V.
Viatris Inc.
Croma-Pharma
Seikagaku Corporation
Zimmer Biomet
Lifecore Biomedical, LLC
LG Chem
Bioventus LLC
Smith & Nephew plc
Shanghai Jingfeng Pharmaceutical Co., Ltd.
Nestle (Galderma)
Bausch Health Companies Inc. Companies Inc. (Salix Pharmaceuticals, Inc.)
Allergan Plc.

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“Increasing prevalence of chronic inflammatory diseases, increasing geriatric population, and advancements in hyaluronic acid products in terms of better efficacy and cost-effectiveness, are expected to drive the hyaluronic acid products market,” says the FMI Analyst

The global hyaluronic acid products market is set to expand its scope in the forecast period, as a result of the rising prevalence of chronic diseases and the expanding geriatric population. In addition to this, the rising demand for minimally invasive therapies and advancing aesthetic procedures and products are propelling the growth of the market.

Who is winning?

Manufacturers in the hyaluronic acid products market are focusing on advanced IAHA injections, dermal fillers, and other products. The delivery of hyaluronic acid to the target site has been made effective, precise, and minimally invasive. This is intended to ensure more effective pain management for various chronic and inflammatory diseases such as osteoarthritis. Many manufacturers are focused on developing advanced, effective, and affordable IAHA injections that come with advanced targeted delivery and minimal invasiveness.

For instance, Synvisc by Sanofi is effective for osteoarthritis pain. The advanced range of dermal fillers launched by Galderma of Nestlé, named Restylane covers a wide spectrum dermal application for volume restorative therapy, and Restylane Lyft is indicated for the wrinkle augmentation of the backside of the hand.

Valuable Insights into Hyaluronic Acid Products Market

Future Market Insights, in its new report, provides an unbiased analysis of the hyaluronic acid products market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights into the hyaluronic acid products market based on product type (single cycle injection, three cycle injection, five cycle injection), application (osteoarthritis, ophthalmic, dermal fillers, and vesicoureteral reflux), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, and specialty clinics). Regionally the market covers North America, Europe, Latin America, East Asia, South Asia, Oceania, and the Middle East and Africa.

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Hyaluronic Acid Products Market by Category

Product

Single Cycle Injection Products
Three-Cycle Injection Products
Five Cycle Injection Products

Application

Osteoarthritis
Ophthalmic
Dermal Fillers
Vesicoureteral Reflux

Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Drug Stores
Specialty Clinics

Region

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

Author

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)

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Nandini Singh Sawlani

Pharmacy Automation Systems Industry Fueling a Remarkable 8.0% CAGR, Poised to Reach US$ 10.6 Billion by 2032 | FMI’s Projections Unveiled

In 2022, the global pharmacy automation systems industry is set to be valued at US$ 4.9 billion, and this impressive trajectory is expected to persist. Anticipating a Compound Annual Growth Rate (CAGR) of 8.0% from 2022 to 2032, the market is forecasted to culminate at a remarkable US$ 10.6 billion by 2032. The surging demand for pharmacy automation systems, driven primarily by their increased use in drug dispensing & packaging, drug storage, and inventory management, is a key factor behind this growth.

In 2021, the medication dispensing cabinets segment emerged as the frontrunner in the global pharmacy automation systems market, boasting a substantial market share of approximately 42.6%. This segment is poised to retain its leading position throughout the forecast period.

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These systems are used by both inpatient and outpatient pharmacies. Pharmacy automation systems also include properties like the ability to measure personalized medications, track and update consumers’ information in a database, and monitor the all-over procedure of inventory management and distribution. Consequently, they are a suitable replacement for manual dispensing across drugstores. The installation of these systems has immensely improved the efficiency and security of storing, administering, filling, packaging, and labeling prescription medications. These considerations, coupled with other factors like the introduction of cost-effective automation solutions, incorporation of advancing technology into the target product, etc., are likely to drive the growth of the pharmacy automation systems market during the forecast period.

Furthermore, the rising awareness of the benefits of pharmacy automation technologies is encouraging many small and mid-sized healthcare hospitals and retail pharmacies to replace their traditional pharmacy operation practices with these systems. This will boost the market prospects during the next decade.

“Rising awareness of the advantages of pharmacy automation systems along with favorable government policies will supplement the global growth of the pharmacy automation systems market over the forecast period,” says an FMI analyst.

Key Takeaways:

By end user, the hospital pharmacies segment will grow at a high CAGR over the forecast period.
On the basis of application, drug dispensing and packaging will continue to dominate the global market growth.
Accounting for 42.6% of the market share in 2021, the medication dispensing cabinets will present a steady growth over the assessment period.
Germany’s pharmacy automation systems market will register a 7.9% CAGR.
The pharmacy automation systems market in the U.S. will acquire a 56.6% share of the global market.
Increasing number of pharmacies drives the target market growth in India.

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Competitive Landscape

AmerisourceBergen Corporation, Baxter International Inc., Swisslog Holdings AG, Care Fusion Corporation, Cerner Corporation, Kirby Lester LLC, Talyst, LLC., Omnicell Inc., and ScriptPro LLC among others are some of the major players in the pharmacy automation systems market profiled in the full version of the report.

Key market players are keen on adopting tactics such as new product releases and increasing investments in research and development. These organizations are also focusing on employing mergers, acquisitions, partnerships, and collaboration strategies to expand their consumer base.

More Insights into Pharmacy Automation Systems Market Report

In its latest report, FMI offers an unbiased analysis of the global pharmacy automation systems market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (robotic dispensing machines, carousel storage, tablet splitters), application (drug dispensing & packaging, drug storage, inventory management), end user (hospital pharmacies, clinic pharmacies, retail pharmacies, mail order pharmacies, pharmaceutical SME’s), and region.

According to the latest FMI reports, based on segmentation, the medication dispensing cabinets segment will demonstrate steady growth owing to its higher rate of adoption. The drug dispensing and packaging segment held 47% of the market share in 2021 and will likely retain its lead while the hospital pharmacies segment is anticipated to register a high CAGR during the projection period.

Based on region, the pharmacy automation systems market in Germany is projected to exhibit substantial growth, recording a positive CAGR of 7.9% during 2022-2032. A well-established and advancing healthcare sector, a rising geriatric population, growing concerns regarding improper inventory management, and the high cost of storing inventory are certain considerations that drive the growth of the target market in this country. Germany accounted for 3.3% of the global pharmacy automation systems market share in the year 2021. Other countries like India and the United States are predicted to present impressive growth in the pharmacy automation systems market over the forecast period.

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Key Market Segments Covered in Pharmacy Automation Systems Industry Research

By Product:

Medication Dispensing Cabinets
Packaging & Labelling Machines
IV Pharmacy
Robotic Dispensing Machines
Carousel Storage
Tablet Splitters

By Application:

Drug Dispensing & Packaging
Drug Storage
Inventory Management

By End User:

Hospital Pharmacies
Clinic Pharmacies
Retail Pharmacies
Mail Order Pharmacies
Pharmaceutical SME’s

Author

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

Booming Construction Industry Drives Qatar Cement Market: Demand to Reach US$ 1,550.9 million by 2032

According to a research study conducted by Future Market Insights on the Qatar cement market, demand for cement is expected to reach a valuation of US$ 1,550.9 million by 2032. Rising demand for residential and commercial buildings owing to increasing population and urbanization will boost the Qatar cement market. Civic infrastructure and tourism infrastructure are also expected to add positive elements to the cement industry. Demand for residential buildings has increased as the population has surged. This has further increased the demand for cement around the world along with Qatar and other regions.

Expansion of the construction industry has a direct impact on the cement industry as cement is one of the essential elements for the construction industry. Cement plays a vital role in the building and construction industry.

Cement is a commonly utilized construction material that is vital to the industry. Expansion of the construction industry is a prominent element that may have an impact on the market. As the number of construction and infrastructure projects grows, so does the demand for cement.

Increasing government spending on such initiatives will help the cement market to expand. Qatar’s cement market has witnessed a significant growth rate during the past five years due to government initiatives for flourishing its tourism sector.

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The country has also invested in infrastructure and commercial buildings such as hotels and staycations. This is attributed to the country’s preparation to host the FIFA World Cup 2022. The event has added positive elements to Qatar’s economy. Travel & tourism have increased and government officials have announced more budget for innovating the tourism infrastructure.

Key Takeaways from the Qatar Cement Market Study

The Qatar cement market is estimated to witness a CAGR of 5.2% on the basis of value between 2022 and 2032.
Doha and Al Khor are expected to collectively hold around 45% of the Qatar cement market share by 2032.
The residential and commercial buildings segment by end use is expected to surge at a CAGR of 5.1% over the forecast period.
The civic infrastructure segment is anticipated to escalate at a CAGR of 5.5% during the estimated time frame.
Doha cement market was valued at US$ 365.5 million in 2021 and it is projected to surge at a CAGR of 5.1% during the assessment period.

“Increasing civic infrastructure developments across Doha is one of the key factors pushing cement sales in Qatar. Key companies are hence investing in the innovation of tunnels, bridges, ports, and roads to increase Qatar’s exposure and visibility,” says a lead analyst at Future Market Insights.

Competitive Landscape: Qatar Cement Market

The cement market in Qatar is moderately fragmented, with big corporations commanding substantial chunks of it. A significant number of medium- and business owners would be advantageous for the market.

Big producers are devoted to expanding their market share and avoiding trade barriers. To guarantee long-term material supply and profit, these manufacturers are also establishing agreements and contracts with other sectors. They are working on research and development projects for new product creation.

A few of the top manufacturers include

Southern Province Cement Company
Yanbu Cement Company
Yamama Cement Company
Qatar National Cement Company
Arabian Cement Company
Najran Cement Company
Al Khalij Cement Company
United Gulf Cement Company
ALJABOR CEMENT INDUSTRIES CO – HOLCIM

For instance,

In July 2022, Ol-Trans, a dominant player in the Polish ready-mix concrete sector, with Holcim Ltd. announced a commitment to the ownership of Ol-Trans’ 5 concrete plants. The manufacturer argues that this acquisition will broaden its network of local ready-mix concrete vendors and reduce its carbon footprint.
In 2022, the Saudi National Bank secured assistance from Yamama Cement Co. in the sum of US$ 426 million to boost the production capacity of its new complex in Northern Halal, Al-Kharj.

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Qatar Cement Market Outlook by Category

By Product Type:

Ordinary Portland Cement
Portland Pozzolana Cement (PPC)
Sulfate Resistant Portland Cement
Blended Cement
White Cement
Portland Slag Cement (PSC)
Super Grade Cement
Hydrophobic Portland Cement

By End Use:

Residential and Commercial Buildings
- Drainage System
- Beams and Pillars
- Stairs
- Roofs and Walls
- Foundations
- Others
Civic Infrastructure
- Dams and Ports
- Roads
- Bridges
- Tunnels
- Culverts and Sewers
- Power Plants
Industrial and Marine Construction

By Country:

Al Shamal
Al Khor
Al Sheehaniya
Umm Salal
Al Dhaayen
Doha
Al Rayyan
Al Wakrah

Get More Insights into the Qatar Cement Market Report

In its latest report, Future Market Insights offers an unbiased analysis of the Qatar cement market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032.

To understand the global market potential, growth, and scope, the market is segmented based on product type (ordinary Portland cement, Portland Pozzolana cement, sulfate-resistant Portland cement, blended cement, white cement, Portland slag cement, super grade cement, hydrophobic Portland cement), end use (residential & commercial buildings, civic infrastructure, industrial & marine construction), and region.

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Nandini Singh Sawlani

Vascular Closure Devices Industry Grows at 5.30% CAGR, Anticipating US$2.47 Billion by 2033 | FMI’s Insightful Report

The vascular closure devices industry is in the midst of remarkable growth and transformation, evident both in its current market value and the expected trends. As of 2023, the market has surged to a valuation of approximately US$ 1,468.4 million, emphasizing the escalating demand for vascular closure devices.

Looking forward to 2033, the market is on the cusp of further expansion, with a substantial projected value of US$ 2,466.5 million. This impressive decade-long increase underscores the growing importance and widespread adoption of vascular closure devices in medical procedures. Over the period spanning from 2023 to 2033, the vascular closure devices market is anticipated to maintain a steady Compound Annual Growth Rate (CAGR) of 5.30%. This growth rate mirrors the industry’s resilience and its capacity to adapt to the ever-evolving needs of the healthcare sector.

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However, the increasing use of transradial arterial access, the continued requirement for post-procedure bed rest, significant costs, and device deployment complexities are observed as key deterrents to the adoption of vascular closure devices. The use of VCDs is also anticipated to be influenced by a significant increase in the number of outpatient PCI procedures and the desire of patients to avoid arterial cut-down procedures. According to the report, hospitals will be the largest end-users of vascular closure devices in the next five years. By the end of 2022, over US$ 600 million in revenues are anticipated to be procured globally from the end-use of vascular closure devices in hospitals.

North America to Exhibit Steadfast Adoption of Vascular Closure Devices

A regional analysis provided in the report reveals North America as the largest market for vascular closure devices. The region is anticipated to remain at the forefront of the global expansion of the vascular closure devices market through 2022. Robust healthcare marketplaces in the US, coupled with consumer lifestyles that have surged the incidence of cardiac disorders, will continue to boost North America’s presence in the global vascular closure devices market. The report also projects that the Asia-Pacific excluding Japan (APEJ) region will register the fastest growth in its vascular closure devices market, and rake over US$ 145 million by the end of 2022.

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Clip-based VCDs to Register 6% CAGR through 2022

A key insight from the report reveals that the demand for clip-based vascular closure devices will be relatively higher than for compression devices and haemostasis pads. Despite the latter being top-selling products in the global vascular closure devices market, clip-based VCDs are expected to outpace them in terms of demand over the next five years. From a medical standpoint, many surgeons prefer VCDs designed with active approximators that can physically close the arteriotomy by using nitinol clips. These metallic clips can also restrict MRI scanners from capturing the unnecessary structures which are immediately adjacent to the arteriotomy. These clip-based VCDs can boost procedural efficiency as well as post-procedural diagnostics for a wide range of cardiovascular treatments.

Companies to Watch

Companies namely, Abbott Laboratories, Terumo Corporation, Cardinal Health, Inc., Medtronic plc, Cardiva Medical, Inc., Arstasis, Inc., Chitogen, Inc., Marine Polymer Technologies, Inc., Essential Medical, Inc., Scion Cardio-Vascular, Inc., Morris Innovative, Inc., Tricol Biomedical, Inc., Vascular Closure Systems, Inc., and TZ Medical, Inc. are profiled in the report as key players in the global vascular closure devices market. Shortly, several manufacturers of vascular closure devices will be focusing on reducing the existing drawbacks of using VCDs, which include extended hospitalisation, high morbidity risks, and the need for administering antibiotics. Some companies will also be focusing on advancing their umbrella on VCD technologies and improving the quality of life for patients being treated through vascular closure devices.

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Market Taxonomy

The taxonomy of the global vascular closure device market has been concisely illustrated in the table below:

Region

North America
Latin America
Europe
Japan
APEX
META

Product Type

Haemostasis Pads
Compression Devices
Clip
Plug
Suture
Others

End User

Hospitals
Ambulatory Surgical Centres
Independent Catheterisation Labs

Author

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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Nandini Singh Sawlani

United States Primed for Thermoformed Trays Market Dominance in North America, Projected to Reach US$4.9 Billion by 2033

The United States is set to exert its dominance in North America, capturing a significant share of nearly 37.8% of the total market by 2023, with an expected Thermoformed Containers market size of US$ 4.9 billion by 2033. This surge in the market is fueled by a growing demand for durable packaging solutions, particularly within the realm of artistic activities like painting. Manufacturers are responding to this trend by introducing trendy and consumer-convenient products such as paint trays and others, driving the growth of the thermoformed trays market.

For instance, in 2020, LINDAR Corp., a prominent plastic thermoforming manufacturer, unveiled a range of innovative products under the brand PAINTWELL. This range included paint trays, heavy gauge plastic components, and paint tray liners. The ongoing stream of such product launches is poised to further bolster the sales of thermoformed plastic trays in the United States, supporting the market’s expansion.

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According to recent market research conducted by FMI, the global thermoformed containers market is on a trajectory of steady growth, with a projected Compound Annual Growth Rate (CAGR) of 4.6% from 2023 to 2033. In 2023, the market is expected to be valued at approximately US$ 19.9 billion, and by 2033, it is anticipated to reach a substantial valuation of US$ 31.6 billion.

Several key factors are expected to drive and sustain this growth:

1. Cost-Effective Solutions: Thermoformed containers offer cost-effective packaging solutions, making them an attractive choice for businesses across various industries. Their efficiency in material usage and production processes contributes to their value proposition.

2. Recycling Potential: With a growing emphasis on sustainability and environmental concerns, thermoformed containers’ potential for recycling is a significant driver. These containers are often made from plastics that can be recycled, contributing to a more eco-friendly packaging option.

3. Rising Demand for Packaged Food: The increasing consumption of packaged food and beverage products, including fresh fruits, vegetables, meat, dry fruits, and beverages, is a major factor propelling the thermoformed container industry. This trend is driven by factors such as rapid urbanization, changing consumer lifestyles, and convenience.

Thermoformed containers are manufactured through a thermoforming process, involving the heating of closed-cell foams or rigid plastics to a pliable temperature, followed by molding using pressure and vacuum forming techniques to achieve the desired shape. These containers are gaining popularity due to their lightweight nature, durability, water resistance, cost-effectiveness, and reusability.

Various types of thermoformed containers, including clamshells, blisters, trays & lids, and bowls, find applications across a wide range of industries. Their versatility and practical attributes make them a preferred choice for packaging needs in sectors such as food, beverages, electronics, and more.

Important elements that could fuel market expansion include:

the cost-effectiveness of the value offered.
the possibility of recycling.
rising consumption of packaged foods.
Thermoformed items are manufactured by heating stiff polymers or closed-cell foams to a malleable temperature during the thermoforming process. For the proper shape, these are formed utilising vacuum and pressure forming procedures.

“As an efficient, durable and safer mode of packaging, thermoformed containers have penetrated in a wide range of applications ranging from consumer goods to medical packaging. With the advent of 3D printing tools, manufacturing capacities of thermoforming are set to expand in the future. And on the back of increased efforts in recycling, thermoformed containers are likely to observe steady growth prospects in the coming years wherein volume sales are expected to reach 191 billion units in 2019, totaling revenues worth US$ 16.6 billion,” says FMI.

Thermoformed Trays and Lids Segment Lucrative, Blisters are Top Selling

The study finds that trays and lids continue to garner greater revenues while blisters remain top-selling product and held one-third of the global sales in 2018. Thermoformed trays and lids accounted for over one-fifth of the sales and remained the most lucrative segment.

Increased use of blister packaging has led manufacturers to introduce various innovations in the form of enhanced protective features, production and technology integration and sustainability. In particular, pharmaceutical packaging manufacturers are leveraging these innovations in the blister packaging to meet the evolving expectations of stakeholders while maintaining a good profit margin.

Thermoformed trays and lids are highly embraced by end-users owing to their versatility in design manufacturing and customization for brand marketing. Also, efficient sealable feature combined with effective resealing extends the application scope of thermoformed trays and lids across end-user industries ranging from food to pharma.

Thermoformed Containers Sales Spearheaded by APEJ

The FMI study opines that APEJ spearheads thermoformed container consumption. In 2018, the region accounted for over one-third of the global volume sales with China at the helm of thermoformed container sales in APEJ. The region presents lucrative opportunities for manufacturers with the availability of raw materials, low-cost labor and significant demand for thermoformed packaging from end-use applications. Also, investments in food and beverage, as well as pharmaceutical packaging, is increasing with the expanding middle class and improving economic scenario.

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Market Segmentation:

By Material Type:

Polypropylene
Polyethylene
Polyvinyl Chloride
Polystyrene

By Product Type:

Blisters
Clamshells
Cups & Bowls
Trays & Lids

By End-Use:

Food & Beverages
Pharmaceuticals
Cosmetics & Personal Care
Home Care Products
Electronics & Electrical

By Region:

North America
Latin America
Europe
Asia Pacific excluding Japan
Japan
The Middle East and Africa

Author:

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

Expanding Pharmaceutical and Agrochemical Production Fueling Europe’s Fine Chemical Market: Anticipated Worth of US$ 53,714.2 million by 2032

Production of pharmaceuticals and agrochemicals is expected to continue to be a leading element driving the market’s expansion. At end of the projected year (2032), demand is anticipated to reach a worth of US$ 53,714.2 million, according to research on the Europe fine chemical market by Future Market Insights.

A key portion of the overall consumption in Europe is being catered through import of various fine chemicals from East Asia. Germany and the United Kingdom are key consumers of fine chemicals in the region owing to strong presence of prominent end use industries. Pharmaceuticals remain a prominent end-use industry for fine chemicals followed by agriculture sector, with medicine industry consuming active pharmaceutical ingredients which account for a key part of the fine chemical industry.

With rising population and decreasing agricultural product supply from Ukraine and Russia, demand for agrochemicals is witnessing a significant growth to foster the surging requirement for high yield of crops. Boosting demand for pharmaceuticals is expected to propel the consumption of active pharmaceutical products and drugs in the next ten years.

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Key companies are establishing new divisions which focus on developing specific drugs for certain events such as hematological oncology and solid tumors. Ongoing research and development activities to develop advanced products with better performance in oncology therapy are also expected to favor demand over the forecast period.

Key Takeaways from Europe Fine Chemical Market Study

Fine chemicals are estimated to witness a growth forecast of 9% CAGR on a value basis in the Europe market.
Germany and France are expected to collectively account for around 1% of the overall fine chemical market share in Europe.
Pharmaceuticals segment by product type is expected to create an absolute $ opportunity of US$ 13,686 million between 2022 and 2032 in Europe fine chemical market.
Germany is a key importer of fine chemicals with an estimated import volume of 9,711.1 tons in 2021.
The Europe market for fine chemicals is estimated to reach a valuation of US$ 33,612.1 million in 2022.

“Increasing demand for fine chemicals for the manufacturing of peptides & proteins, active pharmaceutical ingredients, alkaloids, excipients, and steroids would drive sales in the market. Fine chemicals are set to be used for the treatment of cancer and cardiovascular disease,” says a lead analyst at Future Market Insights.

Competitive Landscape: Europe Fine Chemical Market

The Europe fine chemical market is estimated to be a consolidated industry, where key players are expected to account for a prominent share.

Few of the key manufacturers including

Sumitomo Chemicals
BASF SE
GlaxoSmithKline plc
ChemadaIndustries Ltd.
Syntor Fine Chemicals Ltd.
Lonza
Boehringer-Ingelheim International GmbH
Pfizer Inc
Johnson Matthey
Royal DSM N.V
Merck and Co.
Lanxess
Albemarle Corporation
Weylchem International GMBH
Novartis International AG
Borregaard AS
Solvay SA
Evonik Industries AG
Toray Fine Chemicals Co. Ltd
Nippon Fine Chemical Co. Ltd
NOURYON
HUNTSMAN INTERNATIONAL LLC
CLARIANT AG
BAYER AG
Ashland Global Holdings Inc.

To expand their geographic reach globally and acquire traction in the industry, key players are concentrating on raising their production capabilities. Due to increasing demand for fine chemicals from the pharmaceutical industry, a few prominent businesses are concentrating on investing in their manufacture. The growth strategies of the key market participants also involve contract production for fine chemicals on a merchant basis.

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Europe Fine Chemical Market Segmentation

By Product Type:

Pharmaceuticals
Agrochemicals
Construction Chemicals
Additives
Specialty Polymers
Pigments and Dyes
Flavors and Fragrance Ingredients
Water Treatment Chemicals
Surfactants
Others

By Manufacturing Type:

Captive
Merchant

By End Use:

Pharmaceuticals and Nutraceuticals
Agriculture Industry
Cosmetics and Personal Care
Petrochemicals and Plastic Industry
Food and Beverages
Electronics
Paints and Coatings
Building and Construction
Lubricants and Oil
Textiles
Others

By Country:

Germany
Italy
France
United Kingdom
Spain
BENELUX
Russia
Rest of Europe

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Nandini Singh Sawlani

Compression Garments and Stockings Industry at 4.9% CAGR, Expected to Reach US$ 3.9 Billion by 2029 | FMI

As per FMI’s analysis, the worldwide market for compression garments and stockings is poised for significant expansion, with a projected Compound Annual Growth Rate (CAGR) of 4.9%. This growth is expected to elevate the market’s value from US$ 2.8 Billion in 2022 to an estimated US$ 3.9 Billion by 2029.

The increasing frequency of new product launches, which are centered around improved safety and comfort for patients, would continue to propel the number of products sold annually. Chiropractors and physiotherapists, prescribing compression garments and stockings for degenerative disorders are fueling the market growth.

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Key Takeaways – Compression Garments and Stockings Market Study

The growing adoption of compression garments for orthopedic post-surgical pain management has contributed to the significant market share of the segment by product type.
Hospitals remain as prominent distribution channels for compression garments and stockings for patients suffering from muscle pain, swelling, and bone-related injuries.
Online sales of compression garments and stockings are gathering momentum owing to favorable discounts and free shipping offered by various platforms.
Growing preference for compression garments and stockings among the geriatric population in Western Europe contributed to the significant dominance of the region in the compression garments and stockings industry.
An increasing number of sports injuries and wounds are expected to drive the compression garments and stockings market growth. Strict norms for the use of compression garments and stockings among armed forces personnel and athletes are anticipated to propel the market growth.

Rising Awareness Holds Key to Unlock New Markets

The key manufacturers in the global compression garments and stockings industry are keen to spread awareness about the benefits offered by compression garments and stockings. In May 2017, BSN Medical hosted panel discussions on chronic venous diseases and wound infection management at EWMA 2017. Medi GmbH & Co. KG spreads awareness through its alliance with the German Society for Arthroscopy and Joint Surgery, Eurocom, the German Association for Shoulder and Elbow Surgery, the German Knee Society, and other associations.

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More About Compression Garments and Stockings Market Study

Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the segments from 2015 to 2029. The global compression garments and stockings industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The study provides compelling insights into the compression garments and stockings industry based on product type (compression garments, compression stockings), application (varicose vein, wound care, burns, oncology, other indications), and distribution channel (hospitals, ambulatory surgical centers, clinics, online sales, other healthcare facilities) across seven major regions.

Compression Garments and Stockings Market by CategoryBy Product :

Compression Garments
- Upper Compression Garments
- Lower Compression Garments
Compression Stockings
- Anti-Embolism Compression Stockings
- Gradient Compression Stockings

By Application :

Varicose Veins
Wound Care
Burns
Oncology
Others

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By Distribution Channel :

Hospitals
Ambulatory Surgical Centers
Clinics
Online Sales
Other Healthcare Facilities

By Region :

North America
Western Europe
Eastern Europe
APEX
Japan
Latin America
Middle East and Africa

Author

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 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