Market Research Blog – Page 4333 – New Product Development

Data Science Platform Market’s Phenomenal Growth: US$ 1,362.09 Billion by 2033, Fueled by a Staggering CAGR of 29%

The data science platforms market is expected to reach US$ 106.74 billion in 2023 and US$ 1,362.09 billion in 2033. Demand is anticipated to grow at a CAGR of 29% throughout the anticipated time frame.

The rate of technological improvement has accelerated due to increased funding for research and development. As a result, as there are more businesses, there is an increasing demand for technology that boosts production and efficiency.

To enhance consumer experiences, develop cutting-edge products and services, and gain a competitive advantage, businesses are investing a lot of money in data science platforms. Businesses are also investing in data science platforms to develop customized experiences, understand customer behavior and trends, and increase customer loyalty.

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The firms have made it known that they want to continuously undertake model-driven campaigns in a number of their functional areas, including sales, operations, human resources, and manufacturing. Many end users’ workforces are lacking in fundamental technical knowledge and skills, which limits the market’s expansion. The industry’s expansion is hampered by a lack of reliable technology, worries about data security and privacy, strict laws and regulations from the government, and high investment costs.

Key Takeaways from the Data Science Platform Market Report:

By 2033, the United States is likely to rule the data science platform market, with a CAGR of 24.8%.
The data science platform market increased at a 25.2% CAGR between 2016 and 2022, citing FMI’s study.
The data science platform market was expanding, with a value of US$ 82.74 billion in 2022.
The expansion in China is anticipated to expand at an adequate CAGR of 28.9% by 2033. China’s market is likely to generate a share of US$ 78.65 billion by 2033.
Japan’s data science platform market is expected to expand significantly, with a CAGR of 8.6% by 2033.
Between 2023 and 2033, the data science platform sector is likely to increase in India with a size of US$ 10.26 billion.
The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 11% by 2033.
Based on deployment, the cloud-based segment led the market share in 2022 and continues to dominate the sector during the forecast period.
Based on enterprise type, large enterprises are projected to lead the market by 2033.

Key Strategies in the Industry

There exists a thriving startup ecosystem in the worldwide market. Customers may anticipate innovative solutions from over a hundred startups. Such a market is likely to foster fierce rivalry, forcing existing businesses to constantly update and make improvements to their product offerings.

In February 2022, Dataiku partnered with Polestar Solutions, an APAC company, to strengthen its position in the Indian market. Asian and Pacific organizations can now use an “Everyday AI” platform thanks to Dataiku.
Databricks made additional contributions to data sharing in June 2022, including a new analytical marketplace, secure data cooperation, and automatic cost optimization.

Major Key players:

IBM Corporation
Dataiku
DataRobot Inc.
TIBCO Software Inc.
Databricks
The Mathworks Inc.
SAS Institute Inc.
Microsoft Corporation
Alteryx Inc.
Oracle Corporation

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Data Science Platform Market Segmentation:

By Deployment:

Cloud
On-premise

By Application:

Business Operation
Marketing
Finance & Accounting
Logistics
Customer Support
Others

By Enterprise Type:

Large Enterprises
Small and Medium Enterprises

By Industry:

BFSI
IT & Telecom
Healthcare
Retail
Manufacturing
Transportation
Others

By Region:

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

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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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Endocrine Testing Market Reaches a Valuation of US$ 5735 Million by 2032 | Future Market Insights,Inc.

The global Endocrine Testing Market is currently valued at US$ 2536.7 million and is expected to grow at an 8.5% CAGR. With the rising prevalence of diabetes and the ageing population, the market is expected to reach US$ 5735 million by 2032.

The growing prevalence of endocrine disorders and the advancement of diagnostic techniques have skyrocketed in the last five years. Alcohol consumption, sedentary lifestyles, as well as unhealthy diets, are some of the key factors that are predicted to drive the market over the next few years.

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Several health disorders are affecting the population in the world and it has created a need for effective management of the diseases, which will result in a rise in demand for endocrine testing solutions and methodologies as the global population ages. As a result, there will be a dramatic increase in endocrine testing demand. The increasing demand for precise and non-lethal weapons is boosting the directed energy weapons market across the world.

According to the report, North America, Europe, and East Asia are expected to continue to be the leading markets for endocrine testing over the next five years and will maintain their dominance during the assessment period.

Key Takeaways:

According to the report, the endocrine testing market is expected to reach US$ 2536.7 million by 2023
The endocrine testing industry is expected to grow at a CAGR of 8.5% between 2023 and 2033.
By 2033, endocrine testing is expected to reach a valuation of US$ 5735 million
By Technology, the follicle-stimulating hormone (FSH) segment dominates the market with a 25% share and is projected to remain this way over the forecast period.
The endocrine testing market in North America is expected to grow 47.2% by 2033

“High prevalence of diabetes, increased spending on research and development, and technological advancements in endocrine testing equipment are likely to transform the endocrine testing market in the coming years,” comments an analyst at FMI.

Competitive Landscape

Abbott Laboratories, AB Sciex, Agilent Technologies Inc., bioMerieux SA, Bio-Rad Laboratories Inc., DiaSorin S.p.A., F. Hoffmann-La Roche Ltd., Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated and Ortho Clinical Diagnostics

A number of strategies are being adopted by these firms in an attempt to increase their market share and gain a competitive advantage, including new product launches, facility expansions, mergers, collaborations, partnerships, and acquisitions. For instance,

In August 2022, Mira Fertility will launch its Mira Fertility Ovum Wand which is intended to monitor the levels of the follicle-stimulating hormone (FSH) in urine. Ovulation is triggered by FSH by stimulating the growth of follicles. This product is listed as an over-the-counter tool by the US Food and Drug Administration (FDA), and it is scheduled to launch in October. It can detect lab-accurate FSH levels, helping identify and predict menopause, assess fertility, and predict ovulation.
In May 2022, Berlin-based Inne.io startup announced an additional €9.3 million funding round led by DSM Venturing. Calm Storm Ventures and Borski Fund also participated, along with prominent angel investors Taavet Hinrikus (Wise), Fiona Pathiraja, and Rolf Schromgens (Trivago). With over 100,000 points of hormone data collected, Inne has assisted thousands of women in Switzerland, Germany, Austria, and the UK to track their progesterone levels through its mini lab and medical device registration in 2019.

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More Valuable Insights Available

FMI, in its new offering, presents an unbiased analysis of the endocrine testing market, presenting historical demand data (2017 to 2021) and forecast statistics for the period of 2023 to 2033.

Key Segments Covered in the endocrine testing Market Industry Survey

Endocrine Testing Market by Test Type:

Estradiol (E2) Test in Endocrine Testing
Human Chorionic Gonadotropin (hCG) Hormone Test in Endocrine Testing
Follicle Stimulating Hormone (FSH) Test in Endocrine Testing
Luteinizing Hormone (LH) Test in Endocrine Testing
Progesterone Test in Endocrine Testing
Testosterone Test in Endocrine Testing
Thyroid Stimulating Hormone (TSH) Test in Endocrine Testing
Dehydroepiandrosterone Sulfate (DHEAS) Test in Endocrine Testing
Prolactin Test in Endocrine Testing
Insulin Test in Endocrine Testing
Cortisol Test in Endocrine Testing
Others Endocrine Testing

Endocrine Testing Market by Technology:

Mass Spectroscopy Endocrine Testing
Chromatography Endocrine Testing
Immunoassay Endocrine Testing
Nucleic Acid Based Endocrine Testing

Endocrine Testing Market by End-user:

Endocrine Testing at Hospitals
Endocrine Testing at Ambulatory Care Centers
Endocrine Testing at Commercial Laboratories
Other Endocrine Testing

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FMIs Domain Knowledge in Industrial Healthcare

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the endocrine testing sector. Our expertise in recognizing the challenges and trends impacting the global endocrine testing industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

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Pallet Banding Machine Market Size to Reach US$ 4,995.9 Million by 2023: FMI Study

In 2023, the global pallet banding machine market is expected to be worth US$ 3067.1 million. With increasing usage in industries such as automotive, food and drinks, pharmaceuticals, consumer items, and so on, the entire demand for pallet banding machines is predicted to rise at a 5% CAGR, hitting US$ 4,995.9 million by 2033.

According to a comprehensive analysis by FMI, the global pallet banding machine market is on a trajectory to grow 1.7 times its current market value over the forecast period. These cutting-edge machines are seeing a surge in installation across diverse industries, primarily driven by the imperative need to safeguard packages during the shipping process. This robust growth underscores the critical role played by pallet banding machines in enhancing packaging security for goods in transit.

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Increasing Awareness of Secure Shipments Boosts the Pallet Banding Machine Market

Increased demand for efficient and automated packaging solutions in logistics, e-commerce, and manufacturing industries is a significant driver. These machines enhance productivity and reduce manual labor, thereby cutting operational costs.

The rising awareness about the importance of secure and stable shipments has led to a surge in the adoption of pallet banding machines to prevent product damage during transit. Technological advancements, such as improved banding materials and smart banding devices with IoT integration, propel pallet banding machine market growth by offering enhanced safety, precision, and customization options.

Challenges for Pallet Banding Machine Manufacturers

Intense competition among manufacturers leads to price pressures and shrinking profit margins. Fluctuating raw material costs can impact production expenses. Stringent regulations related to safety and environmental standards may require costly machine modifications. Technological advancements demand continuous research and development investments to stay competitive.

Economic downturns can lead to reduced capital expenditure by industries, affecting market growth for pallet banding machines. The need to adapt to diverse pallet sizes and shapes poses engineering complexities. Addressing these challenges requires innovation, strategic partnerships, and a deep understanding of customer requirements to sustain growth in the pallet banding machine industry.

Drivers

Increased Focus on Secure Packaging: The need for secure and stable packaging to prevent damage during transportation is a major driver, as pallet banding machines are used to tightly secure loads, reducing the risk of shifting and damage.
Efficiency and Productivity: Pallet banding machines help improve the efficiency of packaging operations by automating the banding process, leading to increased productivity and reduced labor costs.
Safety and Compliance: Strapping loads with pallet banding machines can enhance safety by preventing loose or unstable pallets that can pose risks to workers and meet regulatory compliance requirements for secure packaging in some industries.
Cost Savings: Pallet banding machines can lead to cost savings through reduced material usage, as they use the exact amount of strapping needed, and less waste compared to manual strapping.
E-commerce Growth: The growth of e-commerce and the need for secure packaging for online orders have driven the demand for pallet banding machines in warehouses and distribution centers.
Automation in Warehousing: The trend toward automation in warehousing and logistics has increased the adoption of pallet banding machines, which fit well in automated systems.

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Key Takeaways

The United States might increase its market share by 17.5% between 2023 and 2033.
Between 2023 and 2033, Germany may acquire 6.7% of the pallet banding machine industry.
Japan’s share of the pallet banding machine industry could reach 2.2% between 2023 and 2033.
Australia to grab a 1.8% share of the market from 2023 to 2033.
During the forecast period, the Chinese pallet banding machine business to develop at a CAGR of 5.8%.
From 2023 to 2033, the United Kingdom pallet banding machine industry recorded a 3.2% CAGR.
Through 2033, the Indian pallet banding machine market registered a CAGR of 5.1%.
The semi-automatic pallet banding machine segment to acquire a market share of 62.6% in the machine type category between 2023 and 2033.
The food and beverages segment to acquire a substantial market share of 49.2% in the end-use category between 2023 and 2033.

Competitive Landscape

Due to the rising need for effective and secure load stabilization solutions, there is fierce competition in the market for pallet banding machines. The market’s leading companies are constantly working to innovate and set their products apart from the competition with cutting-edge technology, adaptable solutions, and excellent customer service. Various rivals compete in the industry, each trying to gain market share by providing sturdy, economical, and cutting-edge pallet banding machines.

Latest Developments

FIEFER unveiled the TP-502MV family of machines in January 2021 as a practical and affordable option for vertical banding pallets with less frequent packaging.
To make manual wrapping simpler, Cyklop International stretch wrapper released CSM 50 in July 2019.

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Surgical Drainage Devices Market Poised to Exceed US$ 2.9 Billion Valuation by 2032 | Future Market Insights,Inc.

According to a recently released report by Future Market Insights, global sales of the Surgical Drainage Devices Market in 2021 are expected to be US$ 1.3 billion. The market is expected to reach a valuation of US$ 2.9 billion by 2032, with a CAGR of 7.7% from 2022 to 2032. Active Drainage Devices is expected to be the most profitable segment, with a CAGR of more than 7.8% from 2022 to 2032.

Active drains are systems that collect fluid and deposit it in reservoirs. These reservoirs reduce hospital workers’ exposure to contaminated fluid. Active drains use an artificial pressure gradient to remove fluid from a wound or body cavity.

According to the National Library of Medicine, patients with active drains experienced 6% delayed healing compared to 54% for those with passive drains.

Active drains play an important role in improving the outcome of cardiothoracic surgeries, especially in children. As a result, the use of active surgical drain devices among a wide range of end-users has increased along with an increase in the prevalence of chronic diseases like arthritis and osteoporosis. This appears to be primarily driven by significant progress in the medical device industry.

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Impact of Covid-19 on the Surgical Drainage Devices Market

The pandemic disrupted routine hospital services all over the world. For patient safety, the hospital reduces the number of elective surgeries during the pandemic. Reduced elective surgery protected patients from viral transmission, but it reduced global demand for Surgical Drainage Devices. According to a British journal of surgery report, over 20 million elective surgeries were canceled during the pandemic.

Competitive Landscape

Some of the key players in Surgical Drainage Devices include Acelity, Teleflex Incorporated, Cardinal Health, Medtronic, Cook Medical, Johnson and Johnson, B. Braun Melsungen AG, Smith & Nephew plc, Stryker, Becton Dickinson, and Centese.

Some of the recent developments of key surgical drains devices providers are as follows:

In October 2021, Centese created a self-cleaning chest tube device that offers more accurate measurements for keeping tabs on patients recuperating from heart or lung surgery. The device developed by Centese is called the Thoraguard device. This device will help Centese accelerate its growth in the segment of surgical drainage devices.
In April 2019, Smith & Nephew plc announced the acquisition of Osiris Therapeutics, Inc. This addition will further accelerate the growth of Smith & Nephew’s surgical drains business and advance the wound care franchise.
In October 2019, 3M announced the acquisition of Acelity, Inc.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Surgical Drainage Devices Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Surgical Drainage Devices Market in terms of Product Type (Active Drains, Passive Drains), Application (Thoracic and Cardiovascular Surgeries, Neurosurgical Procedures, Abdominal Surgery, Orthopedics, Other Applications.) by End use (Hospitals, Ambulatory Surgical Centers, Clinics) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

Surgical Drainage Devices Market Segmentation

By Product Type:

Active drains
Passive drains

By Application:

Thoracic and Cardiovascular Surgeries
Neurosurgical Procedures
Abdominal Surgery
Orthopedics
Other Applications

By End-Use:

Hospitals
Ambulatory Surgical Centers
Clinics

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Geospatial Imagery Analytics Market Soars to a Projected Worth of US$ 44.58 Billion by 2033, Showcasing a Remarkable CAGR of 20%

The geospatial imagery analytics market is expected to be worth US$ 7.2 billion in 2023, rising to US$ 44.58 billion by 2033. During the forecast period, sales of geospatial imagery analytics are expected to grow at a significant CAGR of 20.00%.

Businesses across industries are using geospatial image analytics to improve decision-making processes and outcomes as technology advances. Geospatial imaging analytics can help you identify cost-saving opportunities, open up new business opportunities, and turn previously unrealized opportunities into reality.

The most notable end users of the technology are likely to be stakeholders in healthcare and life sciences, defense and security, and governmental institutions.

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Geospatial imagery analytics is proven essential for advancing innovation by assisting in identifying and resolving anomalies in the areas of marketing, operations, risk management, and human resources.

Geospatial imaging is expected to strengthen virtual security by identifying and removing undesirable web activity. Geospatial technologies increase the effectiveness of intelligent machines and artificial intelligence in a variety of industries, including agriculture in particular. Remotely controlled equipment completes a range of tasks using GPS and digital dashboards. Robots and intelligent farm equipment are now commonplace, and this is just the beginning. Numerous other industries, including logistics, biosecurity, engineering, and construction, are expected to benefit from the advancement of technology.

Key Takeaways from the Geospatial Imagery Analytics Market

By the end of 2033, the United Kingdom is anticipated to generate an absolute dollar potential of US$ 1.1 billion, according to the report. The market in the United Kingdom is being driven by the combined use of geospatial information systems and business intelligence.
By 2033, the geospatial imagery analytics market demand in the United States is anticipated to account for roughly 72.3% of the market. The growth of the United States market is influenced by the development of modern geospatial clouds. During the projection period, it is expected that demand in the deployment segment will increase by 2.8X. The use of cloud technology improves corporate efficiency and has led to an increase in the demand for geospatial imagery analytics in key corporations.

Throughout the projected period, geospatial imagery analytics solution sales are expected to increase in India recording a CAGR of 17.0%. Demand in India is being driven by the expansion of GIS applications in the agricultural industry.

Competitive Landscape:

Players in the geospatial imagery analytics market are focusing on forming strategic alliances with other service providers to create cutting-edge geospatial imagery analytics solutions.

In November 2022, 3D modeling and reality capture company Spatial Acuity, LLC’s assets were mostly bought by Bowman Consulting Group. Forging a geospatial ecosystem and bringing digital twins to life, Spatial Acuity focuses on reality capture technology, such as high-definition scanning and 3D building information modeling (BIM).

Innoviz Technologies, a pioneer in high-performance, automotive-grade LiDAR sensors and perception software, teamed up with Kudan in October 2022. Using Innoviz LiDARs and Kudan’s perception software, machines can move autonomously and create 3D representations of their surroundings.

Latest Developments:

By the end of 2024, EOS SAT spacecraft is planning to launch seven optical into low earth orbit, according to a February 2021 announcement by the satellite imagery company EOS Data Analytics. Since the company’s goal is to keep track of fields, agriculture is the main focus of this initiative.

Trimble released the Trimble TerraFlex field application in December 2019 to make an accurate and quick recording of GIS information simple. By combining the Trimble Global Navigation Satellite System (GNSS) with the TruPulse laser rangefinders, the Trimble GNSS systems may have a longer range.

Leading Key Players:

Trimble Navigation, Ltd.
Hexagon AB,
General Electric
RMSI, Bentley Systems, Inc.
ESRI, MDA Corporation
Fugro N.V.
Harris Corporation
WS Atkins Plc.
TomTom
Digital Globe
Critigen, AAM
Nokia

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Geospatial Imagery Analytics Market Segmentation:

Analytics Type:

Image-based Analytics
Video-based Analytics

Deployment Model:

On-premises
Cloud

Collection Medium:

Geographic Information System (GIS)
Satellite Imagery
UAV

Application:

Agriculture
Construction
Mining
Oil & Gas
Telecom
Government
Transportation & Logistics

By Region:

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

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Antiepileptic Drugs Market is projected to reach US$ 26.2 Billion by 2032, Growing at a CAGR of 4.3% | FMI Says

As per Future Market Insights’ latest industry analysis, the valuation for the global Antiepileptic Drugs Market is estimated to be around US$ 17.3 Billion in 2022, and is projected to exhibit growth at a CAGR close to 4.3% over the forecast period, with an estimated valuation to be around US$ 26.2 Billion in 2032.

Epilepsy is a condition that causes repeated seizures that are not brought on by localized or severe brain shocks. Epilepsy is linked to gradual impairments in cognitive functioning, neurological damage, and other cerebral impairments if it is left untreated. Antiepileptic medications (AEDs) are prescribed to patients who have epilepsy to reduce the frequency and/or severity of their seizures.

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After headaches, epilepsy is the second most prevalent neurological disorder. Since it has a significant financial impact on the health care system and imposes a significant morbidity burden on both individuals and society, it is a major concern for public health. It is characterized by repeated seizures with cerebral etiology.

Numerous medicines used to treat epilepsy frequently result in severe poisonings. AEDs do not have a perfect pharmacokinetic profile, which makes them suitable for both therapeutic and toxicity monitoring. Currently, tailoring the dosage to the patient’s specific requirements and keeping an eye on adequate blood concentrations is very advantageous for patients utilizing different AEDs.

The growing ageing population, rising burden of neurological conditions, and rising disposable income, are thus the factors driving the demand for the global antiepileptic drugs market.

Key Takeaways from Market Study:

Second generation of antiepileptic drugs are the leading segment as drug generation, and hold approximately 4% market share in 2021. In comparison to first-generation medications, second generation AEDs have a lower risk of teratogenesis and a more favorable side-effect profile.
Oral route of administration segment is set to lead in terms of route of administration of antiepileptic drugs with a market share of around 2% in 2021, owing to its ease of administration in pediatric and geriatric patients.
By distribution channel, retail pharmacies are leading in the global antiepileptic drugs market, and are expected to continue to do so with a projected CAGR of 6% during the forecasted years.
North America is considered as the leading region with a value share of 6% in 2021, owing to the high prevalence of neurological diseases in the region.

“Rising prevalence of neurological and mood disorders has called for innovations within the antiepileptic drugs market sphere,” says an analyst of Future Market Insights.

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Market Competition:

Key market leaders are concentrating on receiving regulatory agency approvals, which is anticipated to propel the expansion of the worldwide antiepileptic drugs market. Key players are coming up with new drug profiles to widen their portfolio presence.

For instance:

Pfizer, Inc. reported in July 2019 that the US Food and Drug Administration has approved the first Lyrica (pregabalin) generics for use as an adjunctive therapy for the management of partial onset seizures in patients aged 17 and older.
In August 2021, Eisai Co., Ltd. announced that the National Medical Products Administration in China had granted its internally discovered and developed anti-epileptic drug (AED) Fycompa® two additional approvals as “a monotherapy for partial-onset seizures” and “an adjunctive treatment / a monotherapy for pediatric indication for partial onset seizures in patients with epilepsy 4 years of age and older.”

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the antiepileptic drugs market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032. The global antiepileptic drugs market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on the drug generation – (first generation, second generation, and third generation), by route of administration (oral, and intravenous), by distribution channel (hospital pharmacies, retail pharmacies, online pharmacies, and drug stores), across seven key regions of the world.

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Key Companies Profiled:

Merck KGaA
Eisai Co., Ltd.
AstraZeneca
Novartis AG
Abbott
Teva Pharmaceutical Industries Ltd.
Pfizer Inc.
GlaxoSmithKline plc
Sanofi
Johnson & Johnson Service, Inc.
Dr. Reddy’s Laboratories Ltd.

Key Market Segments Covered in Antiepileptic Drugs Industry Research

By Drug Generation:

First Generation
Second Generation
Third Generation

By Route of Administration:

Oral
Intravenous

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Drug Stores

By Region:

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

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

Angiography Devices Market: https://www.futuremarketinsights.com/reports/angiography-devices-market

Acetaminophen API Market: https://www.futuremarketinsights.com/reports/acetaminophen-api-market

Multiple Unit Pellet Systems Market: https://www.futuremarketinsights.com/reports/multiple-unit-pellet-systems-market

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Global Immunochromatography Kits Market is estimated to achieve a Value of US$ 12.1 Billion by 2032 with a 4.1% CAGR | FMI

The global Immunochromatography Kits Market stands at US$ 8.1 Billion as of now and is expected to reach US$ 12.1 Billion by the year 2032 at a CAGR of 4.1% between 2022 and 2032.

The fact that infectious diseases continue to spread in spite of noteworthy enhancements in medicine and sanitation can’t be ignored. Even though non-communicable ailments are amongst the leading causes of mortality and morbidity, the infectious diseases do stay a basic concern. The developing economies do have lucrative opportunities to adopt immunochromatography kits, especially with growing awareness about importance of lateral flow assays in these regions.

Also, the recent outbreaks of diseases like H1N1, Ebola, and Zika have made it inevitable to detect the diseases on an early note. The Covid era made this detection indispensable.

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These days, home-based lateral flow assay devices do play an important role with respect to managing infectious and cardiovascular diseases. The devices help to test pregnancy as well as stigmatized conditions like HIV as they do empower patients for performing self-tests at homes. The pandemic prompted companies to be on the toes in this regard.

Hepatitis B is another ailment that needs to be controlled. As per the WHO’s bulletin (2018), over 257 Mn people worldwide are suffering from Hepatitis B. Also, around 9 Mn people have succumbed to hepatocellular carcinoma, liver failure, cirrhosis of liver, and various other diseases related to Hepatitis B.

The serological marker most widely used for diagnosis, screening, and evaluation of the antiviral therapy for Hepatitis B is Hepatitis B surface antigen (HBsAg) (HBV’s envelope protein). Advantages like low cost, simple use, and quicker turnaround time have compelled healthcare personnel to use immunochromatography kits in HBV screenings that include medical checks, self-examinations, and epidemiologic surveys.

This method also helps in determination of oncogenesis and detecting cancer in every form; inclusive of malignant and benign cancer.

The future is slated to belong to complex immunoassay techniques like ELISA and radioimmunoassay instead of sensitive, precise, and quick approaches.

To diagnose parasitic infections like leishmaniasis, parasite protozoa, trypanosomiasis, filariasis, toxoplasmosis, trichomoniasis, and numerous ICTs are being developed. Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Immunochromatography Kits Market’. The team of analysts and consultants has employed every bit of research including primary, secondary, and tertiary to execute.

Key Takeaways from Immunochromatography Kits Market:

North America holds the largest market share with the US being subject to easy accessibility to technologically improvised diagnostic tools and growing demand for diagnostics through increase in incidences of cancer.
Coming to Europe, Germany dominates the market due to players like Qiagen pushing for more than 20% of the market share.
The Asia-Pacific is led by China. This could be credited to growing geriatric population due to prevalence of infectious diseases all across.

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Competitive Assay:

Ortho Clinical Diagnostics, in December 2021, inked an agreement of acquisition with Ortho Clinical Diagnostics for massively expanding the offering of diagnostics.
Abbott, in January 2021, did receive a CE mark for Panbio rapid antigen test, thereby allowing its usage for self-administered sample collection and asymptomatic screening through nose swab.
Roche Diagnostics, in September 2020, did launch SARS-CoV-2 Rapid Antigen test.
Sofia 2 Flu + SARS Antigen FIA (Quidel Corporation), BD Veritor SARS CoV-2 Test (BD), and Rapid Covid-19 Antigen test (Danaher Corporation) were launched at the time of pandemic.
Abbott Laboratories, in August 2020, inked an agreement with the US government for 150 Mn home-based BinaxNOW Covid-19 tests.

“The basic purpose of immunochromatography kits is that of identifying if target analyte (like an antibody or antigen) is present or not in a sample in cost-effective and timely manner”, says an analyst from Future Market Insights.

What does the Report get into?

The research study is based on product (readers and kits), by application (sexually transmitted diseases, infectious diseases, diabetes, pregnancy testing, drug of abuse testing, and likewise), and by distribution channel (hospital pharmacies, retail pharmacies, hypermarket/supermarket, and e-Commerce).
With increase in awareness that immunochromatography assay or lateral flow test simplifies the task of determining of target analyte is missing or present is bound to take the immunochromatography kits market to greater strides in the years to come.

Key Companies Profiled:

Abbott Laboratories
PerkinElmer Inc.
Danaher Corporation
Bio-rad Laboratories
F. Hoffmann-La Roche AG
bioMérieux SA
Becton, Dickinson, and Company
Siemens Healthineers AG
Thermo Fisher Scientific Inc.
QIAGEN

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Key Market Segments Covered in Immunochromatography Kits Industry Research:

By Product:

Readers
Kits

By Application:

Sexually Transmitted Diseases
Infectious Diseases
Diabetes
Pregnancy Testing
Drug Abuse Testing
Others

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Supermarket/Hypermarket
E-Commerce

By Region:

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

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

Toxicology Drug Screening Market: https://www.futuremarketinsights.com/reports/toxicology-drug-screening-market

Vascular Ulcer Treatment Market: https://www.futuremarketinsights.com/reports/vascular-ulcer-treatment-market

Temporary Pacing Leads Market: https://www.futuremarketinsights.com/reports/temporary-pacing-leads-market

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Hotel Central Reservation System Market Poised for Robust Growth, Forecasted to Reach US$ 800.84 Million with 8% CAGR by 2032 | FMI

The hotel central reservation systems market is poised to reach a valuation of US$ 400.06 Billion in 2022. Sales are projected to increase at 8% CAGR, with the market size reaching US$ 800.84 Billion by 2032.

Hotel Central Reservation Systems are all in one softwares used by hospitality sector, for easier management of bookings and reservation, along with inventory and property management. The hotel and resort chains with more multiple properties in different regions find it hard to manage these properties and the bookings, especially during the holidays and touring seasons.

Bookings at the front desk are tiresome and confusing, and reservations on phone or by the third party operators are risky and uncertain. At such time, tourists are relying on online booking channels. The booking channels are connecting tourists to the number of hotels and resorts and making bookings lot easier.

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Hotel management use CRS, which automates processing and sorting of bookings and reservations in accordance with customer requests, to manage these bookings made through mobile applications, websites, and OTAs.

Key Takeaways from the Hotel Central Reservation Systems Market Study:

The North America, Europe and Asia Pacific regions hold a market share of ~26%, ~22% and ~18% respectively.
COVID-19 affected 0.45% to the Hotel Central Reservation Systems market.

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Key Players

OPERA Property Management System
eZee Front desk
Room Master
Hotelogix PMS
MSI CloudPM
Rezlynx PMS
CenDyn
Vertical booking
Amadeus
eRevMax
SHR
GuestCentric

Hotel Central Reservation System by Category

By Operation Type (% of Demand):

Offline
Cloud-Based

By Booking Channel (% of Demand):

Phone Booking
Online Booking
In Person Booking

By Sales Type (% of Demand):

Direct Sales
Distribution Sales

By User (% of Demand):

Big Enterprises
Small Enterprises
Individuals

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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In-Ear-Monitors (IEMs) market is set to grow at a CAGR of 9.0% by 2032, to the surge in musical concerts and studio recordings | FMI

According to Future Market Insights’ latest industry analysis, the market size for the global in-ear-monitors (IEMs) market was around US$ 293.8 Million in 2021. It is projected to exhibit growth at a CAGR of 9.0% over the forecast period, with an estimated market size of ~US$ 749.7 Million in 2032.

The number of musical concerts, live recordings, and studio recordings is rapidly expanding, with adolescents all over the world actively promoting and adopting these activities. The internet’s penetration, especially in remote regions, provides an additional benefit. It is anticipated that there will be significant growth in the forecast period since in-ear monitor use is associated with the rise in musical theatre performances.

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Another factor driving the growth of the in-ear-monitors market is the key suppliers heavily relying on distribution channels, such as retail stores and multiple-brand distributors and of headphones, headsets and earphones, in order to better serve clients and achieve a competitive advantage in the in-ear-monitors (IEMs) market.

Due to the growing e-commerce business, particularly in nations like the U.S., China, Brazil, and India, in-ear monitor producers are also working with a number of e-commerce behemoths, including Amazon, Flipkart, and Alibaba. Thus, the development of marketing platforms and the strengthening of distribution channels are contributing to the value expansion of the global in-ear-monitors (IEMs) market.

Considering the above-mentioned factors there would be significant growth in the in-ear-monitors (IEMs) market globally.

Key Takeaways from Market Study:

Universal IEM dominated the market with a 5% market share in the product segment of the in-ear-monitors (IEMs) market in 2021. The universal IEMs are easily available as well as has more number of manufacturers and thus the adoption rate is higher.
Studio recording and broadcasting accounted for 9% of the market share in 2021. Studio recording and broadcasting is a more common activity compared to live events, which are held occasionally. Thus, the usage of in-ear-monitors is more in studio recording.
Supermarkets and hypermarket segment dominated the market in 2021 with a share of 7% of the distribution channel category of the in-ear-monitors (IEMs) market. The reach is more through this channel and so the share is higher.
North America dominates among the seven regions, with a market share of 4%. The increased number of music recordings as well as shows is more in North America compared to other regions and that is why holds a higher share of the market.

“Increasing technological advancements and quality products in the in-ear-monitors (IEMs) market is set to propel the sales of the in-ear-monitors (IEMs) market across the globe,” says an analyst of Future Market Insights.

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Market Competition:

The in-ear-monitors (IEMs) market is quite fragmented because of the increased number of key players in the market. There are a broad range of products that can be categorized under the in-ear-monitors (IEMs) market, therefore it is a huge market. The strategies that are commonly followed by the key players include product launches, partnerships, expansions, collaborations, acquisitions and mergers.

In November 19, 2021, The AONIC FREE true wireless earphones were launched by Shure Incorporated in collaboration with singer, songwriter, and multi-instrumentalist Jacob Collier.
In April 2018, Adam Hall Group increased the availability of its products by merging with the Musical Distributors Group (MDG).

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the in-ear-monitors (IEMs) market in its latest study, presenting a historical demand assessment of 2015 – 2021 and projections for 2022 – 2032. The global in-ear-monitors (IEMs) market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

Key Companies Profiled:

Shure Incorporated
Sennheiser electronic GmbH & Co. KG
Future Sonics Inc.
Peavey Electronics
ULTIMATE EARS.
Empire Ears
Sensaphonics, Galaxy Audio
Adam Hall Group (LD Systems)
Audio-Technica, Inc.
MEE Professional
JTS PROFESSIONAL CO., LTD
ANLEON Electronic Co., LTD,

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Key Market Segments Covered in In-Ear-Monitors (IEMs) Industry Research:

By Product:

Custom IEM
- 2 -Driver Earphones
- 3 -Driver Earphones
- 4 -Driver Earphones
- 6 -Driver Earphones
- 8/9 -Driver Earphones
- 12 -Driver Earphones
- 18 -Driver Earphones
Universal IEM
- 2 -Driver Earphones
- 3 -Driver Earphones
- 4 -Driver Earphones
- 6 -Driver Earphones
- 8/9 -Driver Earphones
- 12 -Driver Earphones
- 18 -Driver Earphones

By Application:

Live Events and Performances
Studio Recording and Broadcasting

By Distribution Channel:

Supermarkets/Hypermarkets
Multi-brand Stores
Exclusive Stores
E-commerce/Online Sales

By Region:

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

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

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Thoracic Vascular Stent Grafts Market: https://www.futuremarketinsights.com/reports/thoracic-vascular-stent-grafts-market

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Himalaya Vacations Tourism Market Set to Reach US$ 3.26 Billion with a Steady 5% CAGR by 2032 | FMI

The Himalayan tourism market is poised to reach a valuation of US$ 2 Billion in 2022. Sales are projected to increase at a 5% CAGR, with the market size reaching US$ 3.26 Billion by 2032.

Himalayan Tourism appears resilient against pandemic. Even though about 80% reduction of the tourists visiting Himalayas in 2020, the tourism sector was capable quickly recover and welcome tourists coming after a year’s gap.

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The tourists from all around the world come and visit Himalayas to observe the scenic beauty including forests, farms, lakes, mountains and fields. Along with sightseeing, there are number of adventure sports and activities to perform, from treks, rock climbing to kayaking and river rafting and safaris. There are also cultural heritages with Hindu temples and Buddhist Monasteries in districts surrounding Himalayas.

The Himachal Tourism working with Government of Himachal are proposing new ideas related adventure activities, schemes and loans for Hospitality sector, encouraging local entrepreneurs to enter in Himalayan tourism sector.

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Key Takeaways:

Based on tourism type, ecological/sustainable tourism is popular among international as well as domestic travellers.
By booking channel, the online booking segment is preferred by most travellers.
In terms of age group, individuals from age group of 26-35 are most common travellers to Himalayas.
COVID-19 affected 80%(Dip) sales in this market.

Impact of COVID-19 on the Himalayan Tourism Market

As the COVID-19 pandemic brought restrictions of travelling and tourism all around the world, the absence of tourists had a severe impact on the Himalayan tourism industry.

In 2019, about 1,72,12,107 tourists (domestic and international) visited Himalayas and the number indicated 4% growth in tourists than 2018. But, in 2020, this number decreased by 81%, 32,13,379 tourists in the year. This decrease was due to restrictions on public gathering and travelling, along with closed borders of multiple countries to contain and eliminate the virus. (Figures by https://himachaltourism.gov.in/)

Even after observing such decline in tourists, 2021 observed 75% increase in tourists, as there were less restrictions and public was allowed to travel to other countries. Such increase in tourists is promising the recovery of tourism sector in Himalayas, opening doors for development, new opportunities and unexplored challenges.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the Himalayan Tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Himalayan Tourism market based on the tourism type (cultural & heritage tourism, eco/sustainable tourism, adventure & sports tourism, wellness tourism & others), booking channel (phone booking, online booking & in person booking) tourist type (domestic & international), age group (15-25 years, 26-35 years, 36-45 years, 46-55 years, 66-75 years) across Asia.

Key Companies Profiled

Himalayan Tours
Himalaya Travels
Himalayan Tour Operators & Travel Agents
Enchanting Travels
Himalayan Holidays
Sherpa Expedition and Trekking Pvt. Ltd.
Trafalgar
G Adventures
Explore!
Nepal Hiking Team
Himalaya Heart Treks & Expedition

Himalayan Tourism Market by Category

By Tourism Type:

Cultural & Heritage Tourism
Eco/Sustainable Tourism,
Adventure & Sports Tourism,
Wellness Tourism
Others

By Country:

India
Nepal
Bhutan
China
Others

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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