Market Research Blog – Page 4302 – New Product Development

Soy Protein Isolate Market Expected to Achieve US$ 4,152.2 Million by 2033 with a 3% CAGR, According to FMI

The market for soy protein isolate was predicted to reach US$ 2,987 million in 2022. The market is anticipated to reach US$ 4,152.2 million, growing at a CAGR of 3% from 2023 to 2033 due to shifting customer preferences toward natural food proteins.

Animal welfare is one of the key elements determining consumer preference for soy protein isolate. The demand for plant-based alternatives like soy protein isolate has surged as more people contract food allergies and intolerance. The growing customer knowledge of this product’s benefits and the market’s expansion are both due to the usage of soy protein isolate, which offers several advantages.

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Soy isolates are becoming more prevalent in baby food. Soy protein isolate has substantial market potential in infant foods due to an increase in demand for it across newborn feeds, prepared meals, and packaged foods. The rise in demand for practical and economical meat alternatives among infants is a significant element boosting soy protein isolate demand globally.

Major market participants are marketing soy products with organic labeling since these commodities are derived from raw materials like peas, wheat, and soy that are produced using organic farming methods. The demand for organic soy protein isolates is also expected to increase as more consumers become aware of the numerous health advantages of consuming organic goods. This is predicted to offer profitable prospects for the expansion of the worldwide market throughout the forecast period.

Key Takeaways from the Market Study

Global soy protein isolate market is expected to be valued at US$ 3106 million by 2023
From 2018 to 2022, the market demand expanded at a CAGR of 2.7%
From 2023 to 2033, the United States market for soy protein isolate is projected to account for a 25.7% market share.
China to experience a 3.4% CAGR and India a 4.1% CAGR from 2023 to 2033
By nature, the conventional segment was estimated to acquire a 78% share in 2022.
By end use, the meat alternative segment acquired 25% market share in 2022.

“Soy-based diets are becoming more popular as customers believe that soy isolate protein products offer therapeutic advantages such as healing disorders, boosting immunity, and lowering the risk of heart attack, diabetes, and various other diseases.” remarks an FMI analyst.

Competitive Landscape

Prominent players in the soy protein isolate market are:

Archer Daniels Midland
Cargill Inc
Fuji Oil Holdings Inc.
Farbest
Batory Food
CHS Inc.
Crown Soya Protein Group E.I.
The Scoular Company
Food Chem International
Fuji Oil Holdings Inc.
Nutra Food Ingredients LLC
Osage Food Products
Dupont De Numerous Company

Some key developments of the leading companies in this market are:

Archer Daniels Midland (ADM) opened a new extrusion factory in Serbia in 2022. This plant will increase the production of non-GMO granular soy protein. Their new extrusion factory not only boosts the region’s supply of locally produced, non-GMO textured soy protein, which is in high demand in Europe, but it also keeps up with the category’s phenomenal growth in the EMEA region.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global soy protein isolate market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the soy protein isolate market, the market is segmented on the basis of soy protein isolate by nature (organic and conventional), by form (dry and liquid), by end-use (meat alternatives, bakery, and confectionery, functional foods), by function (nutrients, emulsifier, fat & water absorption, restaurants, other functions) and across five major regions (North America, Latin America, Europe, Asia Pacific, and 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.

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Anticipated Surge in Feed Phytogenic Market Revenue with a 3.5% CAGR by 2033, According to Future Market Insights Inc.

The feed phytogenic market is projected to be worth US$ 782.3 million in 2023. By 2033, the market is expected to surpass US$ 1,142.13 million. The demand for phytogenic feed is expected to expand at a CAGR of 3.5% during the forecast period.

The feed phytogenic industry is an emerging segment of the animal feed industry, which has witnessed significant growth over the past few years. Feed phytogenic products are plant-based additives. They are used in animal feed to enhance animal performance, gut health, immunity, and overall well-being. The increasing demand for animal protein and livestock production, along with the ban on antibiotic growth promoters in animal feed, has been driving the growth of the market.

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Despite the growing demand for feed phytogenic products, the industry still faces certain challenges that act as restraints for market growth. The lack of awareness and knowledge regarding the usage and benefits of phytogenic feed additives. As well as the unavailability of standardized testing methods poses challenges for manufacturers in terms of product development and marketing.

The feed phytogenic industry offers several opportunities for market players to expand their business and increase their market share. The rising trend of natural and organic products is providing significant growth opportunities. Moreover, increasing awareness among consumers regarding the benefits of natural products is expected to drive the market.

Key Takeaways from the Feed Phytogenic Market:

The United States feed phytogenic industry is expected to exceed US$ 175 million by 2033, owing to the industry’s increased demand for chicken meat.
Vietnam and Indonesia are two of the Asia Pacific region’s leading feed producers.
Rising animal health concerns and a taste for natural commodities are expected to propel the feed phytogenic business in Germany.
Brazil is expected to lead the feed phytogenic market because of the region’s enormous development potential.
Poultry is expected to continue to be the most appealing livestock propelling the sales of phytogenic feed.
The most popular type of plant-derived chemical utilized in cattle is essential oils.
Herbs and spices have recently attracted much attention in the feed industry.

From Global Giants to Local Players: How Phytogenic Feed Industry is Standing Out with Unique Offerings

The feed phytogenic industry has a highly competitive landscape, with numerous global and local players operating in the market. Tier-1 and tier-2 players, including Biomin, Cargill, Delacon, DuPont, Kemin Industries, Adisseo, Pancosma, and Nutrex, dominate the global market. Due to their brand reputation, product differentiation, financial stability, strategic advances, and diverse regional presence. These companies have a global reach and varied product ranges, making it difficult for new players to enter the market and compete.

In addition to these dominant players, there are also numerous local firms present in the phytogenic feed industry. These players have a strong understanding of the regional market and have built a loyal customer base. They often focus on producing low-cost products, which allows them to compete with the key players in the market.

The phytogenic feed industry is characterized by intense R&D activities, with companies continuously investing in the development of new and innovative products. This has led to several mergers, partnerships, and collaborations among players to leverage their collective strengths and expand their market presence.

Key Developments in the Feed Phytogenic Market:

Kemin Industries added VANNIXTM C4, an innovative phytogenic feed additive, to their range of chicken gut health products in January 2020 in North America.
In January 2020, Delacon Biotechnik GmbH launched BioStrong Comfort. A product designed to reduce the impact of heat stress during periods of high temperature and humidity. It contains antioxidants derived from plants in the United States and Canadian markets.
In 2017, Delacon and Cargill formed a partnership to provide better solutions for their customers. This included a minority stock investment from Cargill. After entering the Russian market in 2019, Delacon introduced its phytogenic products to China in March 2020.
In October 2020, Royal DSM, a multinational corporation specializing in nutrition and health acquired Erber Group for €980 million. To expand their phytogenic feed additive offerings.

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Feed Phytogenic Market by Category

By Product Type:

Essential Oils
Herbs & Spices
Oleoresins
Others Product Type

By Livestock:

Poultry
Ruminants
Swine
Aquatic Animals
Other Livestock Animals

By Function:

Performance Enhancers
Palatability Enhancers
Other Functions

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Nandini Singh Sawlani

Dive Computer Market is Growing at a CAGR 5.7% During Forecast Period By 2032 | Says FMI

The Global Dive Computer Market is expected to be worth US$ 634.7 million in 2022 and US$ 1,109.3 million by 2032, growing at a 5.7% CAGR from 2022 to 2032. The share of the dive computer market in the global dive equipment market is ~21%-26%.

Further, numerous dive computer firms are concentrating on innovation and expanding their portfolios in order to improve market penetration.

They are also offering several diving computer devices based on their featured characteristics, such as depth measurement, time locater, ascent rate, previous dive information, low battery warning and enriched air compatible feature.

For instance, leading manufacturer of dive instruments ‘Suunto’ has made a partnership with Swedish start-up company ‘3ngage’, to manufacture a 3-Dimension diving computer products which is very useful for all types of divers and helps to measure depth and time in water.

Further, companies have the opportunity to motivate consumers to pay more for brands, products, and other company services after developing new diving computer technologies and products and focusing on premiumization.

Consumers prefer to pay a high value for a product with advanced and unique features, therefore many firms begin to follow this trend and heavily spend in research and development in order to create and invent new goods and make them a premium product at a competitive price.

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Key Takeaways from the Dive computer market Study

In terms of mode of sales channel, direct sales has the most market share and is expected to be the fastest expanding sales channel.
In terms of product type, wrist dive computer is expected to be witness fastest growth over the upcoming decade.
AMOLED display type is the most preferred dive computer in the market.

“Leading manufacturers in the global diving computer market are increasing their R&D efforts in order to extend their product range and improve technology. Also, leading businesses are focusing on new potential markets in order to grow their consumer base and establish a stronger global presence, “Says an FMI analyst.

Who is winning?

Leading dive computer manufacturer are focusing on aggressive promotional techniques, commercials, and new product launches to boost dive computer sales growth globally.

Major players present in the dive computer market are Garmin Ltd., Johnson Outdoors Inc., Aqua Lung International, Poseidon Diving System AB, Suunto Oy, Mares, Oceanic, Shearwater Research Inc., Sherwood Scuba LLC., and Atomic Aquatics among others.

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Global Dive Computer Market by Category

By Product Type:

Wrist Dive Computers
Console Dive Computers
Air Integrated Dive Computers
Others

By Display Type:

AMOLED Display
MIP Display

By End User:

Beginner/ New Diver
Casual Diver
Active Diver
Advanced/ Professional Diver

By Price Range:

High Range
Mid– range
Low Range

By Sales Channel:

Direct Sales
Hypermarkets/ Supermarkets
Specialty Retail Stores
Online Retailers
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Paint Ingredient Market is Anticipated to Reach at a US$ 2,230 Million in 2032 | FMI

The global paint ingredient market is projected to reach US$ 2,230 Million in 2032 while expanding at a CAGR of 3.2%. The market is likely to hold a value of US$ 1,630 Million in 2022. As per historic estimations, the global market is predicted to display a growth rate of 2.5% from 2016 to 2021.

The growth in the market is attributed to their odorless characteristics and their potential to have less impact on the environment, eco-friendly paints have become increasingly popular. Consumers are increasingly shifting towards environmentally friendly products as they are gaining traction which is considered to be an instrumental factor in the growth of this market.

Paint manufacturing is one such industry that relies on automatic control technologies. When it comes to the paint industry, the composition of the paint holds the utmost importance. A wide range of methods is being employed in order to overcome this particular problem. Earlier, painting composition was done manually but sometimes didn’t meet the required color. In order to solve the manual paint composition problem, automatic paint preparation techniques are employed.

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Paint mixers are expected to account for a reasonable market share in the near future since FMCG companies in India China, and Singapore continue to expand their operations in these countries. The market is also anticipated to be benefitted from surging industrialization, increasing government infrastructure spending, and increased foreign direct investment.

Owing a wide array of smart dispensing solutions is making it hard to select the perfect paint mixing machine. While making a decision to invest in automatic ingredients, it is imperative to consider a few crucial parameters, incorporating the growth plan, customer requirements, enterprise outcomes, and the total cost of ownership. Paint ingredients are utilized for the efficient mixing of different colors of paint in an accurate proportion, based on various formulas.

A professional painter, a DIYer, or any other end user uses the product after mixing it for painting. With people around the world changing the aesthetics of their homes, offices, and other establishments at a rapid pace, the world of interior design and décor is growing at an incredible rate. With the emergence of modern paint ingredients, users can easily customize the exact color of their space with paint. Paint is considered a brilliant way to transform a space’s visual appeal.

Key Takeaways

Paint mixers are considered to be one of the most profitable businesses at present. Several aspects of the economy require a massive amount of paint. In addition to that, the surging technological advancements have led to the innovation of products such as automatic paint mixers, and other products are expected to boost future growth.
Over recent years, the popularity of eco-friendly paints has gained immense traction because of their odorless qualities and lower negative environmental impact. The market is rapidly growing as consumers become more conscious about their surroundings. With increasing technological advancements, automatic paint mixers have been developed to reduce labor and worker intervention in paint mixing. In the newly developed and advanced automatic mixer, powders and pigments are blended with polyurethane, epoxy, polyester, and acrylic resins without the presence of any air.
Owing to the surge in DIY projects along with rising experimentation with paints have often been driven by rising social media trends. This has resulted in supporting the growth of the market for paint ingredients. Several users are experimenting with unique color combinations, textures, and even scents that can be incorporated into their paint with effective paint Ingredients.
Moreover, the market is expected to benefit from the rising consumption of automotive, construction, and general industrial products. Countries with rising urbanization and industrialization such as India, China, and Southeast Asia, are expected to see a rapid rise in the demand for products in various applications.

Competitive Landscape

Key market players are focusing on rising technological advancements and adopting various strategies like acquisitions and mergers, research and developments to gain an edge over the market.

More Insights into the Paint Ingredient Market

According to the FMI estimations, North America is anticipated to dominate the global paint ingredient market as the region is expected to account for a total of 22% of the global market share in 2022. Due to the presence of several prominent market players in the region, the market is expected to prosper in the region.

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Key Segments Profiled in the Global Paint Ingredient Market

Paint Ingredient Market by Product Type:

Automatic Paint Ingredient Mixer
Manual Paint Ingredient Mixer
Semi-Automatic Paint Ingredient Mixer

Paint Ingredient Market by Application:

Paint Ingredient for House Decoration
Paint Ingredient for Paint Manufacturer
Paint Ingredient for Paint Users
Paint Ingredient for Other Applications

Paint Ingredient Market by Material:

Wood-based Paint Ingredients
Metal-based Paint Ingredients
Steel-based Paint Ingredients
Plastic-based Paint Ingredients
Other Materials-based -based Paint Ingredients

Paint Ingredient Market by Sales Channel:

Paint Ingredient Sales via Hypermarkets/Supermarkets
Paint Ingredient Sales via Departmental Stores
Paint Ingredient Sales via Convenience Stores
Paint Ingredient Sales via Specialty Stores
Direct Paint Ingredient Sales
Paint Ingredient Sales via Online Retailing
Paint Ingredient Sales via Other Sales Channels

Paint Ingredient Market by Region:

North America Paint Ingredient Market
Latin America Paint Ingredient Market
Europe Paint Ingredient Market
Asia Pacific Paint Ingredient Market
Middle East & Africa Paint Ingredient Market

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Protein A Resins Sector Capitalizes on Monoclonal Antibody Rush: FMI’s Prediction of US$ 1,477.01 Million Market by 2033

The Protein A Resins Market is projected to reach US$ 677.84 million in 2023. According to a recent analysis by Future Market Insights, the market would likely reach US$ 1,477.01 million by 2033. From 2023 to 2033, the market is projected to grow at a CAGR of 8.1%.

Protein A resins are used in the creation of monoclonal antibodies at a remarkable rate. Demand for monoclonal antibodies has skyrocketed in therapeutic fields like cancer, autoimmune, neurological, and inflammatory illnesses. Naturally, the development and research of therapeutic antibodies is where the attention of top pharmaceutical corporations is focused. This will advance the medical industry as a whole. The investigation of monoclonal antibodies, the expedited speed of drug development assumed by the biopharmaceutical and biotechnology industries, and increased investment in synthetic biology are some prevalent reasons driving the industry ahead.

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The rising demand for protein-engineered products utilized for therapeutics and vaccine development by the biopharma industries is expected to fuel market growth. Additionally, elevated demand for pre-packed disposable columns positively impacts the market. Government fundings for new research are likely to be high in developed countries such as the United States. This is additionally underpinned by superior quality infrastructure held by the country. Furthermore, the pharmaceutical industry is making substantial efforts to advance the medical field and bridge the gap between patients and healthcare facilities by working on therapeutics’ cost-effectiveness.

Progress in monoclonal antibody research is expected to uplift the market. It is also expected to unveil noteworthy growth prospects for players showing interest in this market. Manufacturers are also considering shifting their base to emerging territories like China and Japan, which show notable demand for protein A resins.

Top Highlights from the FMI’s Analysis of the Protein A Resins Market:

The United States protein A resins industry is expected to acquire more than 93.5% value share of the North America market.
Within Europe, the United Kingdom protein A resins industry is expected to take 24.1% of the pie in 2033.
The China market is anticipated to enlarge at a CAGR of 9.8% over the upcoming years.
High demand for natural protein A resin is expected to yield a large market share in 2023.
Under the matrix category, the agarose-composed matrix of protein A resins is expected to record 85.8% of the market share in 2023.
The antibody purification segment is projected to gain 74.8% of the global market.
The biopharmaceutical manufacturers segment is expected to emerge as the chief end user of the market, gaining as high as 79.2% of the market in 2023.

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Newsflash Straight from Leading Market Players

Navigo Proteins GmbH introduced an affinity resin extracted from a baculovirus insect cell known as glycoprotein gp64 in June 2022. For the success of this process, precision capture technology was deployed. This resin can be employed for the vaccine production process.
Agilent Technologies joined forces with Delaware State University in September 2022 to accelerate the base of minority students who opt for STEM careers.
Tosoh Biosciences LLC finalized its acquisition of Semba Biosciences in October 2021. The latter is a privately held prominent innovator in multi-column chromatography (MCC) technology and instrumentation. With this recent development, the former company is expected to observe ease in the downstream purification of biologics.
Navigo and Repligen fulfilled their co-development of a new affinity ligand in September 2021.
The Life Sciences operations of GE Healthcare were obtained by Danaher Corporation and remarketed as Cytiva in May 2021.

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Key Players in the Market are:

GE Healthcare
Thermo Fisher Scientific
Kaneka Corporation,
JNC Corporation
Purolite Life Sciences
Bio-Rad Laboratories, Inc.
JSR Corporation (JSR Life Sciences LLC)
Repligen
Tosoh Bioscience, Merck Group (Merck Millipore)
Novasep Holdings SAS, Agilent Technologies, Inc.
GenScript, Abcam PLC (Expedeon Ltd.)
Avantor Inc.
Takara Bio, PerkinElmer, Inc.
Suzhou Nanomicro Technology Co., Ltd

Protein A Resins Market by Category

Product:

Natural Protein A Resin
Recombinant Protein A Resin

Matrix:

Agarose-based Matrix
Glass or Silica-based Matrix
Organic Polymer-based Matrix

Application:

Immunoprecipitation
Antibody Purification

End User:

Biopharmaceutical Manufacturers
Clinical Research Laboratories
Academic Institutes

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Region:

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

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Latin America Hand Sanitizer Market is Projected to be Valued at US$ 1,617.3 Million by 2032 | Says FMI

The Latin America hand sanitizer market is estimated to reach US$ 709.5 Mn in 2022 and is set to be valued at US$ 1,617.3 Mn by 2032. The market is likely to exhibit steady growth at a CAGR of 8.6% from 2022 to 2032.

Aloe vera-based natural hand sanitizers are becoming increasingly popular among consumers. These hand sanitizers are simple to make and manufacture as the essential components are widely available in the market and surrounding areas.

Furthermore, hand sanitizers containing plant-based ethanol components are thought to be safer than synthetic solutions, as they are devoid of hazardous chemicals. Synthetic hand sanitizer can cause rashes and allergies, and their chronic usage can lead to serious health problems. As a result, natural hand sanitizer is becoming increasingly popular in Latin America, says FMI.

In the next decade, companies in the Latin America hand sanitizer market are projected to benefit from increased demand for new and innovative products infused with natural components. Key manufacturers in the region are continuously involved in considerable research and development activities to offer safer products at discounted rates.

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Key Takeaways from the Latin America Hand Sanitizer Market Study

Brazil accounts for a share of about ~37.7% in the Latin America hand sanitizer market and is set to exhibit growth at a CAGR of 6.0% during the estimated tenure.
Mexico holds a share of 21.5% in the Latin America hand sanitizer market and is projected to witness growth at a CAGR of 8.4% during the evaluation period.
Columbia is estimated to generate a share of 7.2% in the Latin America hand sanitizer market and is likely to show a CAGR of 10.5% during the assessment period.
By product type, the instant hand sanitizer gels segment holds a considerable share of 75.5% in the Latin America hand sanitizer market.
Based on end use, the institutional segment holds a significant share of 80.4% in the Latin America hand sanitizer market.

“Numerous firms have drastically changed their manufacturing lines to make alcohol-based hand sanitizers in response to the coronavirus outbreak caused by SARS and MERS across Latin America. Furthermore, well-known suppliers of raw materials have expanded their ability to produce ethanol or ethyl alcohol, as well as isopropyl components to enable the production of hand sanitizers across the region,” says a FMI analyst.

Competitive Landscape: Latin America Hand Sanitizer Market

Leading manufacturers present in the Latin America hand sanitizer market are focusing on aggressive promotional strategies, advertisements, and new product launches to drive sales of their products in the region.

Major players present in the Latin America hand sanitizer market are Himalaya Wellness Company, Reckitt Benckiser Group PLC, Companhia Nacional de Álcool, Procter & Gamble Company., Unilever PLC, The 3M Company, Essity AB, The Clorox Company, Sanofi S.A., and Gojo Industries Inc. among others.

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Get More Valuable Insights on Latin America Hand Sanitizer Market

Future Market Insights, in its new offering, provides an unbiased analysis of the Latin America hand sanitizer market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Latin America hand sanitizer market based on product type (foaming hand sanitizers, foaming instant hand sanitizers, instant hand sanitizer gels, and spray hand sanitizers), active ingredient (ethanol or ethyl alcohol, benzalkonium chloride, and isopropyl), packaging type (flip-flop bottles, pump bottles, dispensing packets, and jars/cans), end use (institutional and household), pack size (below 100 ml, 101 ml-300 ml, 301 ml -500 ml, 501 ml & above), sales channel (hypermarkets/supermarkets, specialty stores, multi-brand stores, online retailers, and other sales channel) across various countries of Latin America.

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Silent Innovation in Medical Imaging: Unveiling the Journey towards a US$ 6.36 Billion Silent Scan Technology Market by 2032 | FMI

By 2032, the Silent Scan Technology Market is anticipated to reach US$ 6.36 billion. The market for quiet scan technology is anticipated to grow at a CAGR of 4.8% through 2032 and reach US$ 3.98 Billion in 2022.

The silent scan technology market refers to the market for imaging technologies that provide a quieter and more comfortable scanning experience for patients. Traditional medical imaging techniques, such as magnetic resonance imaging (MRI) and computed tomography (CT) scans, can be noisy and cause anxiety or discomfort in patients.

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Silent scan technology aims to address these challenges by reducing the noise levels generated during the scanning process. It utilizes advanced hardware and software solutions to minimize or eliminate the loud banging and clanging noises typically associated with MRI and CT scans. By doing so, it helps improve patient experience, particularly for children, individuals with sensory sensitivities, or those who experience anxiety or claustrophobia.

The market for silent scan technology has been growing steadily as healthcare providers and medical facilities recognize the importance of patient comfort and satisfaction. The technology has the potential to enhance the overall quality of care and increase patient throughput by minimizing the need for sedation or rescans due to patient movement caused by discomfort.

Key Takeaways Silent Scan Technology Market

Silent Scan technology is a revolutionary advancement in medical imaging that aims to reduce noise levels during MRI (Magnetic Resonance Imaging) scans. Traditional MRI scans produce loud noises due to the use of rapidly switching magnetic fields, causing discomfort and anxiety for patients.
Silent Scan technology uses specialized hardware and software solutions to significantly reduce the noise levels during MRI scans. This technology employs advanced data acquisition techniques, including parallel imaging, compressed sensing, and specialized pulse sequences to acquire high-quality images with minimal noise.
The primary benefit of Silent Scan technology is enhanced patient comfort. By reducing the noise levels, patients experience less anxiety and stress during MRI scans, making it particularly useful for children, individuals with sensory sensitivities, and claustrophobic patients.
Silent Scan technology also enables better communication between the patient and medical staff during the scanning process, as the reduced noise allows for clearer instructions and information exchange.
The market for Silent Scan technology is experiencing significant growth due to increasing demand for patient-centric imaging solutions and advancements in MRI technology. Healthcare providers are recognizing the value of providing a more comfortable and stress-free experience for patients, which drives the adoption of Silent Scan technology.

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According to FMI’s market forecast report, silent scan installation base is anticipated to reach 1,815 units in 2016, up from 1,015 units in 2015. Silent scanners constituted 1% of total MRI machine installations in 2015, and owing to their positive reception among end-users, their adoption is expected to witness a steady increase during the forecast period.

Hospitals are the leading end-use segment in the global silent scan technology market, and are expected to account for nearly 50% volume share of the market in 2016. Regionally, North America and Asia Pacific excluding Japan (APEJ) are the two largest markets, accounting for over 50% share of the global market in terms of volume. The market in these two regions is dominated by the U.S. and China respectively. FMI’s report forecasts the global silent scan technology market to increase at a steady compound annual growth rate (CAGR) of 5.4% through 2026.

Competitive Landscape:

Some key players in the silent scan technology market include medical imaging equipment manufacturers, such as GE Healthcare, Siemens Healthineers, Philips Healthcare, and Canon Medical Systems. These companies have been developing and introducing innovative solutions, such as redesigned scanner components, advanced noise reduction algorithms, and specialized coil systems, to create a quieter scanning environment.

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Key Regions/Countries Covered

End User:

Hospitals
- Public Hospitals
- Private Hospitals
Diagnostic Imaging Centres
Ambulatory Surgical Centres

Key Regions/Countries Covered:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan (APEJ)
Japan
Middle East & Africa

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Eyeing the Future: Ophthalmic Diagnostic Equipment Market Set to Soar to US$ 5.1 Billion by 2030, Empowering Early Detection and Precision Diagnosis | FMI Insights

The Ophthalmic Diagnostic Equipment Market is a vital segment within the broader medical devices industry, specializing in the diagnosis and evaluation of various eye conditions and diseases. This market plays a crucial role in maintaining eye health and preventing vision impairment through early detection and accurate diagnoses. Ophthalmic diagnostic equipment encompasses a diverse range of devices, including fundus cameras, tonometers, optical coherence tomography (OCT) machines, slit lamps, and autorefractors, among others.

The market for ophthalmic diagnostic equipment has experienced significant growth in recent years due to factors such as an aging population, the rising prevalence of eye disorders like cataracts, glaucoma, and diabetic retinopathy, as well as an increased awareness of the importance of regular eye check-ups. Advancements in technology have also played a pivotal role in driving the market, leading to more precise and efficient diagnostic tools.

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It is anticipated that the worldwide Ophthalmic Diagnostic Equipment Market will offer an opulent growth opportunity, rising at a CAGR of 6.7% from a valuation of US$ 3.0 billion in 2022 to US$ 5.1 billion by 2030.

Moreover, the integration of artificial intelligence (AI) and machine learning algorithms into ophthalmic diagnostic equipment has further enhanced its capabilities, allowing for automated detection and analysis of eye conditions with higher accuracy and speed. These AI-driven solutions enable early diagnosis, thereby enabling prompt intervention and treatment, ultimately improving patient outcomes.

Geographically, the market has witnessed growth across various regions, with developed countries showing a high adoption rate of advanced diagnostic tools, while developing regions are experiencing a surge in demand due to improving healthcare infrastructure and increasing disposable income.

Key Takeaways:

The number of individuals suffering from serious eye diseases is rising at a global level due to which loss of vision is becoming a major public health problem. As the population has increased, the prevalence of eye diseases has also surged due to the rise in chronic diseases such as diabetes and hypertension have become more common leading to issues like glaucoma or vision impairment.
There is an increase in the number of people who are blind or have impaired vision in the upcoming years. With the rising frequency of eye disorders and the resulting increase in disability-adjusted life years (DALYs), demand for precise disease treatment is likely to increase in the future years.
Increasing technological advancements in analytical methods help in offering improved quantification and characterization with high-resolution cross-sectional 3D images of the target tissue that is difficult to view using a conventional microscope. Owing to such high-tech equipment, the surge in the ophthalmic diagnostic equipment market can be witnessed.
The emergence of advancement in technologies have provided improved quantification and Intraoperative optical coherence tomography (OCT) aids accurate decision-making during eye surgery by providing real-time imaging with simultaneous feedback features.
An increase in the demand for optical coherence topography devices has led to a rise in competition among players. As a strategy to reach the larger masses, various players/manufacturers have lowered the costs of their devices, which in turn has led to the adoption of these devices by doctors in emerging economies along with developed countries. This factor is anticipated to drive demand for these devices in emerging economies in near future.

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Competitive Landscape:

TOPCON CORPORATION, ZEISS International, Ellex, Quantel Medical, NIDEK CO., LTD., HAAG-STREIT GROUP, Halma plc, Coburn Technologies Inc., Kowa Company Ltd. are some of the key companies profiled in the full version of the report.

Major competitors in the ophthalmic diagnostic equipment market are concentrating their efforts on expanding their worldwide and regional footprints through strategic acquisitions and mergers, as well as operational growth.

Companies in the ophthalmic diagnostic equipment market are following new product innovations and launches, regulatory approvals, and acquisitions as the key strategies. Key players are focusing on the development of advanced and cost-effective products and establishing distribution agreements to increase geographic reach, especially in the Asia Pacific region. Moreover, companies are targeting Asia region by establishing manufacturing units in order to reduce manufacturing costs.

More Insights into Ophthalmic Diagnostic Equipment Market

The United States is anticipated to rule the ophthalmic diagnostic equipment market accounting for over 89.2% of the North American region. Owing to the increased prevalence of refractive error disorders, the increased number of eye condition awareness programs, and the increased use of superior diagnostic technology are all contributing to this increase.

Germany accounted for approximately 28.6% of the Western Europe market in 2021. According to Eurostat one of the most common surgical procedures in Europe is cataract surgery. The rising number of cataract operations has had a significant influence on the ophthalmic industry, resulting in increased demand for cataract surgery equipment and medications.

China accounted for about 40.4% of the APEJ region in 2021. Factors such as the increasing number of people belonging to the older population that suffer primarily from poor eyesight and other eye-related diseases such as glaucoma and cataract contributed to market growth in this region.

India accounted for a 13.1% market share of APEJ in 2021 and is expected to show a similar trend in the coming years also. In India, ophthalmology-related disorders are on the rise. In India, almost 5 million cataract procedures are conducted every year. The bulk of these operations includes the implantation of intraocular lenses.

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Ophthalmic Diagnostic Equipment Market by Category

By Product:

Fundus Cameras
Retinal Ultrasound Imaging Systems
Refractors
Slit Lamps
Perimeters
Ophthalmoscopes
Tonometer
Optical Coherence Tomography (OCT)
Corneal Topography Systems

By End user:

Hospitals
Clinics
Ambulatory Surgical Centers

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Pharmacovigilance Vital Role in Healthcare Assurance and Projected Market Growth to US$ 23.31 Billion by 2033, Says FMI

According to Future Market Insight, the worldwide Pharmacovigilance Market will hit a critical milestone by 2033, when its estimated value will reach US$ 23.31 Billion. This estimate shows a striking CAGR of 13%. It’s important to remember that this estimate is a lot higher than the estimated US$ 6.87 billion for 2023.

The prevalence of chronic diseases like diabetes, cancer, respiratory conditions, and cardiovascular diseases has increased globally, increasing the demand for medications and the size of clinical trials to find new treatments. The importance of pharmacovigilance in assuring drug safety and keeping track of adverse drug reactions (ADRs) has boosted demand for pharmacovigilance services. Additionally, the market is anticipated to expand due to academic initiatives that support pharmacovigilance.

The healthcare industry is increasingly emphasizing patient safety and patient-reported outcomes. Pharmacovigilance plays a crucial role in ensuring patient safety throughout the drug lifecycle. As healthcare stakeholders prioritize patient-centric care, the demand for effective pharmacovigilance measures increases.

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The growing use of pharmaceutical products and complex treatment regimens increases the likelihood of encountering adverse events. This necessitates an efficient pharmacovigilance system to promptly monitor, detect, and report adverse drug reactions. As the number of ADRs rises, pharmaceutical companies need to invest more in pharmacovigilance infrastructure, leading to market growth.

Regulatory agencies worldwide continuously update and enforce pharmacovigilance regulations to ensure patient safety. Pharmaceutical companies must comply with these requirements, leading to increased investments in pharmacovigilance infrastructure, processes, and technologies. The demand for pharmacovigilance solutions and services grows as companies strive to meet these stringent regulatory standards.

To manage the complexities of pharmacovigilance effectively, many pharmaceutical companies opt to outsource these tasks to specialized service providers. Outsourcing allows companies to access expertise, streamlined processes, and cost-effective solutions. The growing trend of outsourcing pharmacovigilance activities contributes to the expansion of the pharmacovigilance market.

The expanding number of drug development programs and clinical trials generates vast amounts of safety data. Pharmacovigilance is crucial during these phases to identify and manage potential risks to study participants and ensure drug safety. The demand for pharmacovigilance services increases as more drugs enter development and clinical testing stages.

With increasing global access to pharmaceutical products, drug consumption has risen significantly. This surge in usage requires a robust pharmacovigilance system to accurately monitor and report adverse events. As a result, pharmaceutical companies invest in pharmacovigilance resources and solutions to manage the growing demand.

Technological advancements have transformed pharmacovigilance practices. These technologies enable more efficient and accurate identification of safety signals and adverse events, leading to improved patient safety and more effective risk management. The adoption of these advanced tools drives the expansion of the pharmacovigilance market.

The rise of biologics presents unique safety challenges compared to traditional small-molecule drugs. Biopharmaceutical companies require specialized pharmacovigilance expertise to manage the safety of these complex therapies. As the biopharmaceutical industry expands, so does the demand for tailored pharmacovigilance services.

Precision medicine tailors treatments to individual patients based on genetic, environmental, and lifestyle factors. Pharmacovigilance must adapt to address individual variations in drug response and safety profiles. As precision medicine advances, so does the demand for specialized pharmacovigilance approaches, driving market growth.

Key Takeaways from the Pharmacovigilance Market

The pharmacovigilance industry in the United Kingdom is anticipated to rise sizably, exhibiting a CAGR of 12.1% through 2033, driven by the implementation of advanced artificial intelligence technologies for adverse event monitoring.
The United States held a 30.9% share of the global pharmacovigilance industry in 2022, primarily attributed to the stringent regulatory framework and the increased focus on drug safety by the Food and Drug Administration.
With a CAGR of 15.4% over the forecast period, India is predicted to develop rapidly in the pharmacovigilance industry, driven by the government’s initiatives to strengthen its healthcare infrastructure and streamline adverse drug reaction reporting mechanisms.
In 2022, Japan had a 5.1% share of the pharmacovigilance industry globally, boosted by the country’s increasing focus on drug safety regulations and the implementation of a robust post-marketing surveillance system.
The pharmacovigilance industry in China is expected to flourish speedily, registering a CAGR of 16.8% over the forecast period, fueled by the government’s efforts to strengthen its regulatory framework and enhance pharmacovigilance practices for ensuring drug safety in a rapidly expanding healthcare market.
Germany accounted for 6.9% of the global pharmacovigilance industry in 2022, driven by the country’s robust healthcare infrastructure and the focus on efficient adverse drug reaction monitoring through its well-established national pharmacovigilance system.

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Competitive Landscape in the Pharmacovigilance Market

In the pharmacovigilance industry, key players, including pharmaceutical companies, regulatory authorities, and specialized service providers, are actively monitoring and assessing the safety of drugs and medical products. They collaborate to detect, evaluate, and manage adverse effects, ensuring patient safety and compliance with regulations. Additionally, these players invest in advanced technologies and data analytics to enhance pharmacovigilance processes and stay at the forefront of drug safety management.

Recent Developments by Key Players

Qinecsa Solutions Ltd. achieved a significant accomplishment in December 2022 by acquiring Commonwealth Informatics, Inc. This milestone has enabled Qinecsa to establish a comprehensive vigilance platform, bringing together outstanding pharmacovigilance services with a powerful digital platform.

In June 2022, the Italian Medicines Agency launched the new National Pharmacovigilance Network (RNF) along with an international standard format for gathering data on adverse reactions. The RNF serves as the system responsible for collecting, managing, and analyzing reports of suspected ADRs in Italy. The updated RNF incorporates advanced features to enhance the management and analysis of these reports.

Key Players:

Accenture Plc.
Bristol-Myers Squibb
Clinquest Group B.V.
Cognizant Technology Solutions
Covance Inc.
F. Hoffmann-La Roche Ltd.
GlaxoSmithKline Plc.
ICON Plc
iGATE Corporation
iMED Global Corporation
inVentiv Health Inc.
Novartis AG
PAREXEL International Corporation
Pfizer Inc.
Pharmaceutical Product Development LLC. (PPD)
PRA Health Sciences Inc.
Quintiles Transnational Holdings Inc.
Sanofi SA
Synowledge LLC
Wipro Ltd.

Key segments:

By Phase of Drug Development:

Preclinical Studies
Phase I
Phase II
Phase III
Phase IV

By Type of Methods:

Spontaneous Reporting
Intensified ADR Reporting
Targeted Spontaneous Reporting
Cohort Event Monitoring
EHR Mining

By Service Type Provider:

In-house Pharmacovigilance
Contract Outsourcing

By Geography:

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa (MEA)

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Respiratory Inhaler Devices Market Poised to Cross US$ 60,114.7 Million by 2033, Propelled by Smart Technology Integration and 4.9% CAGR, According to FMI

The global Respiratory Inhalers Devices Market size is anticipated to attain an impressive valuation of US$ 37,258.5 million in 2023 and is projected to reach US$ 60,114.7 million by 2033, trailing a CAGR of 4.90% during the forecast period.

The continuous growth in the cases of respiratory diseases such as Asthma and chronic obstructive pulmonary diseases and others are expected to spur growth in the market. Also, the integration of smart technology in manufacturing smart inhalers will further boost product demand. Smart inhalers are used for the treatment of respiratory ailments as they help in delivering drugs directly to the respiratory tract.

In addition, increasing research and development activities in the field of smart inhalers will further lead to new innovations made in the existing products which are expected to keep the product demand stable throughout the forecast period. The addition of new features in these devices for better analysis and keeping track of the patient will positively affect the market growth.

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Apart from this, a 12-month controlled study conducted in January 2017 at the Sheffield Children’s Hospital, United Kingdom provided positive outcomes with the use of ‘Adherium’s smart inhaler system’. The positive medical outcomes were fewer hospitalizations, improved adherence to medication schedules, and a lesser need for doctor visits. Thus, significant advancements in digital respiratory inhaler technology will present new opportunities for market expansion.

Various organizations are leveraging the use of digital technologies in their devices to enhance the effectiveness of medicine delivery. For example, Aptar Pharma introduced ‘HeroTracker Sense’ in April 2022. It’s a new digital respiratory health solution that converts a standard metered dose inhaler (pMDI) into a smart connected healthcare device. Thus, new product launches and development like these will drive product demand over the forecast period.

Key Takeaways:

North America is expected to dominate the industry by accumulating over 45% revenue share by end of the forecast period.
The market in India is projected to witness fastest CAGR of 6.10% during the forecast period.
China is projected to exhibit a 20% of CAGR in respiratory inhaler devices market.
By product type, Metered dose inhalers are projected to account for 4 % market share by end of the forecast period.
By Disease Indication, Asthma is expected to lead the market by holding 8% revenue share by 2033.

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“Research and development activities in enhancing the features of smart inhaler devices and new product launches will foster growth in the market,” comments an FMI analyst.

Competitive Landscape:

The Respiratory inhaler devices market is extremely competitive and consists of numerous key industry players. These players are innovating new products in the respiratory devices domain. This is expected to propel the respiratory inhaler devices market. The key industry players are:

AstraZeneca, Beximco Pharmaceuticals Ltd., Cipla Ltd., GlaxoSmithKline plc., OMRON Healthcare Europe B.V., PARI Medical Holding, Teva Pharmaceutical Industries Ltd., Koninklijke Philips N.V., Boehringer Ingelheim GmbH, Merck & Co., Inc.,

Key industry players are relying on inorganic growth strategies like acquisition, mergers, partnerships, and collaboration in order to strengthen their product portfolio. This is anticipated to fuel the global respiratory inhaler devices market.

In December 2020, ‘OMRON Healthcare’ introduced WheezeScan for children suffering from Asthma to accurately detect the presence of wheezing in young children and to remove the unpredictability of potential misdiagnosis.
In March 2021, in US and Mexico ‘AstraZeneca PLC initiated a Phase 3 clinical trial to evaluate the safety and effectiveness of budesonide/glycopyrronium/formoterol inhalers in adolescents and adults with chronic asthma inadequately controlled with standard care. The will trial will be completed in September 2023.
In May 2022, ‘Alkem’ introduced its first inhalation device, “Innohaler”, for asthma and COPD and asthma patients.

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Key Segments Profiled in the Respiratory Inhalers Devices Industry Survey

By Product:

Dry Powder Inhalers
Metered Dose Inhalers
Nebulizers
- Compressed Air Nebulizers
- Ultrasonic Nebulizers
- Mesh Nebulizers

By Technology:

Manually Operated Inhaler Devices
Digitally Operated Inhaler Devices

By Disease Indication:

Asthma
Chronic Obstructive Pulmonary Disease
Pulmonary Arterial Hypertension
Others

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By Region:

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

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Nandini Singh Sawlani