United States Filament Tape Market Poised for Robust 8.1% CAGR Growth, Fueled by Thriving Building and Construction Sector”

Filament Tapes Market

The United States filament tape market is poised for robust growth, with a projected 8.1% CAGR. The thriving building and construction industry, highlighted by the industry’s significant GDP contribution and substantial construction spending, makes the U.S. a highly attractive market for filament tapes. Residential construction spending alone reached approximately US$ 551 billion in 2019.

The global filament tapes market is projected to reach a value of US$ 10,477.1 million by 2033, with a significant CAGR of 7.1% during the forecast period. The increasing demand for corrugated box packaging is expected to drive the growth of the filament tape market.

The carton sealing tapes segment holds a potential share in the market due to the rising demand for lightweight and durable packaging solutions in industries such as automotive, electronics, and food.

Filament tapes offer high tensile strength and excellent adhesive properties, making them a preferred choice for sealing and securing corrugated boxes during transportation.

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The automotive industry, particularly in the Asia Pacific region, is also a significant contributor to the growth of the market.

The tape is widely used in automotive applications for its strength and residue-free removal. Additionally, India’s packaging and tape industry is witnessing growth driven by the electronics and electrical packaging sectors.

Filament tapes are preferred in sealing and bundling applications in these segments. The healthcare and hygiene industry also contributes to the demand for filament tapes due to the need for high-end packaging and protection against moisture, UV rays, and other environmental factors.

The single-sided tapes segment holds a substantial share of the market, accounting for around 52% in 2022. The growing demand for double-sided tapes is expected to increase market share due to their improved high-performance characteristics and multifunctional abilities.

Regarding backing adhesive, the plastic film segment is experiencing significant growth of 7.5%, driven by factors such as high tensile strength and preference in the automobile sector.

The acrylic-based adhesive is the leading segment among other adhesive types. It is fueled by its better aesthetics, high-quality bond to plastics and metals, and secure bonds between oily or contaminated surfaces. The acrylic-based adhesive is witnessing a growth of 9.1% during the analysis period.

India is an influential market for filament tapes, witnessing a growth rate of 8.0% in the forecast period. The country’s growing economy, expanding industrial sectors, and infrastructure development contribute to the demand for filament tapes.
China, known for tape production, experiences a market growth of 7.5%, with technological advancements and collaborations shaping the adhesive industry.
Germany, holding a market share of around 4.0% in Western Europe, benefits from the increasing growth of the electrical and electronic industry in the region.

Competitive Landscape

Companies in the filament tapes market have engaged in mergers and collaborations to enhance their product portfolios, expand their distribution networks, and tap into new market opportunities. By joining forces, companies can pool their resources and capabilities, enabling them to offer a comprehensive range of filament tape products and cater to the diverse needs of customers across various industries.

3M sells See Scotch Filament Tapes, including continuous fibers reinforcing the carrier to make it stronger, withstand damage, and prevent tears from migrating.

Tesa SE introduced a new line of premium filament tapes with fiberglass reinforcing in October 2018. The novel filament tapes are durable when standard strapping tapes are insufficient to sustain heavy weight, high abrasion levels, or excessive shear force.

Amidst the COVID 19 pandemic, the e-Commerce industry is likely to grow at an unprecedented pace, which is expected to augment the growth of the filament tapes market. On the flip side, industries such as automotive and consumer goods have been highly affected by the pandemic. As such, growth of the global filament tape market is expected to be relatively slow in 2020

“Key manufacturers of filament tapes are focusing on product innovation and technological integration that can allow at-scale production, resulting in quality products at a lower cost. This is likely to attract customers, as it balances cost and value. Organizations are also partnering and collaborating with other players in the market to penetrate deeper into untapped regions. This will enhance brand value and increases market competitiveness in the filament tapes market.”

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Key Takeaways:

Single-sided tapes account for over 50% share of the overall filament tapes market. However, double-sided tapes are expected to register high incremental opportunity in comparison with single-sided tapes, owing to their multi-functional ability and high-performance characteristics.

Amongst the adhesive types, rubber-based and acrylic-based adhesive types would account for over 70% market share, cumulatively.

As per FMI analysis, carton sealing is a major application of filament tapes, followed by insulation and bundling. Cartons that need to be transported require sturdy packaging to prevent products from getting damaged. Due to the increase in e-Commerce spending and growth of the FMCG sector, the carton sealing application is expected to remain prominent throughout the forecast period.

Automotive and electrical & electronics industries, cumulatively, would maintain their primacy in the filament tapes market. However, due to the impact of the COVID-19 outbreak, growth is anticipated to take a dip in the near term.

Application of filament tapes is likely to surge in shipping & logistics and food & beverages, attributable to increasing shift of customers towards essential goods.

Filament Tapes Market by Category

By Filament Type:

Single Sided Tapes
Double Sided Tapes

By Backing Adhesive Type:

Plastic Film
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polyethylene (PE)
Polyester (PS)
Others
Paper
Fabric
Foam

By Adhesive Type:

Rubber Based
Natural Rubber
Synthetic Rubber
Acrylic Based
Hot Melt Adhesive

By Width:

12 mm
18 mm
24 mm
36 mm
48 mm
72 mm
96 mm

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Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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A Detailed Outlook on the US$5.91 Billion Global Dental Imaging Equipment Industry by 2030, as Unveiled by FMI

A recent study conducted by Future Market Insights (FMI) has projected an impressive growth trajectory for the Global Dental Imaging Equipment Industry. Anticipated to leap from a valuation of US$ 3.21 billion in 2022, the market is expected to reach a staggering US$ 5.91 billion by 2030, showcasing a robust Compound Annual Growth Rate (CAGR) of 7.9%.

The rising demand for dental imaging equipment transcends geographical boundaries, with both developed and developing economies embracing this innovative technology. This surge can be attributed to a significant increase in the number of patients seeking dental care, as per data from the World Health Organization, revealing that approximately 50% of the global population (3.58 billion individuals) suffers from oral ailments. Additionally, the growth of dental care centers further fuels the demand for dental imaging equipment.

Furthermore, the dental imaging landscape is evolving as it transitions to the digital realm. Although the outbreak of the COVID-19 pandemic temporarily slowed down the market, the future of dental imaging equipment remains promising as it adapts to meet the evolving needs of the healthcare industry.

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Digital Dentistry: The Future

In the year 2019, the IDC (International Dental Show) was attended by Institute of Digital Dentistry in Cologne, Germany. It threw light on the ways dentistry has evolved in the form of 3D printers, CAD materials, milling machines, and intraoral scanners. The institute otherwise provides training and CAD/CAM courses in New Zealand as well as online so as to keep the dentists and course attendees updated about clinical relevance and implementation of digitization by the key market players.

Digital Expansion: Key to Growth

As stated above, the market players are looking to provide digital imaging solutions to cater to the increasing number of patients with dental ailments. Some of the measures taken in this regard include:

  • In Jun 2020, Level Equity-backed Planet DDS signed an agreement for acquiring Apteryx Imaging, a Canada-based publicly traded company with the objective to explore a wider arena in terms of geography
  • DENTSPLY Sirona Inc., in Oct 2019, launched 2 intraoral sensors (Xios AE and Schick AE) and 3D/2D imaging systems (Orthophos E, Orthophos SL 3D, and Orthophos S 3D)
  • In Oct 2019, Envista Holdings Corporation entered into a partnership with TeamSmile programs all through the US for propagating the use of KaVo SMARTmatic and KaVo MASTERtorque LUX M8900L

Key Takeaways of Dental Imaging Equipment Industry Study

  • Extraoral X-ray systems are expected to have the highest market share of 28.7% in 2022, expanding at a rate of about 8.0% over the forecast period.
  • The independent dental clinic segment is expected to have the highest share of 72.3% in 2022, growing at a rapid rate of 5.6% CAGR during the forecast period.
  • In 2022, the United States is expected to account for approximately 85.8% of the North American dental imaging equipment market.

“The players are shifting their gears towards digital imaging. This upgradation is expected to shape the global dental imaging equipment industry.” says an FMI Analyst.

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More Valuable Insights on Dental Imaging Equipment Industry

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the segments from 2015 to 2030. The global dental imaging equipment industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights into the dental imaging equipment market on the basis of product type, (Intraoral X-ray Systems, Intraoral Plate Scanner, Intraoral Sensors, Intraoral Phosphor Storage Plates, Extraoral X-ray Systems, Cone-Beam Computed Tomography (CBCT) Imaging, Intraoral Cameras), by End User (Hospitals, Ambulatory Surgical Centers, Independent Dental Clinics, Forensic Laboratories), across seven major regions.

Leading Players in Dental Imaging Equipment Industry

The dental imaging equipment market is onto the digital spree. Digital imaging systems are being provided by the key players to cater to the increasing number of patients throughout. At the same time, AI is being tried out as an effective tool for dental digital solutions.

In line with the above-mentioned developments, twin robotic X-Ray system from Siemens provides a combination of 2D X-Rays with fluoroscopy along with 3D imaging.

The key players in the dental imaging equipment including the ones mentioned above are:

  • Envista Holdings Corporation
  • Dentsply Sirona
  • Carestream Dental, LLC
  • Danaher Corporation
  • Acteon Group
  • Planmeca Oy

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report

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Dental Imaging Equipment Industry: Segmentation The global dental imaging equipment Industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. Product Type

  • Intraoral X-ray Systems
    • Wall/Floor Mounted Intraoral X-ray Systems
    • Hand-Held Intraoral X-ray Systems
  • Intraoral Plate Scanner
  • Intraoral Sensors
  • Intraoral Phosphor Storage Plates
  • Extraoral X-ray Systems
    • Panoramic X-rays Systems
    • Cephalometric Projections Systems
  • Cone-Beam Computed Tomography (CBCT) Imaging
  • Intraoral Cameras

End Users

  • Hospitals
  • Independent Dental Clinics
  • Ambulatory Surgical Centres
  • Forensic Laboratories

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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North American Protective Packaging Market Forecast: U.S. Poised for Steady 4.5% CAGR Growth from 2023 to 2033

Protective Packaging Market

In the North American protective packaging market, the United States is poised for gradual yet consistent growth with an anticipated 4.5% Compound Annual Growth Rate (CAGR) spanning from 2023 to 2033. This expansion is underpinned by the substantial demand for protective packaging solutions, largely attributable to the strong presence of industry leaders like Sealed Air Corporation, Sonoco Products Company, WestRock Company, Greif, International Paper Company, and Coveris Holdings S.A.

These key players offer a diverse array of protective packaging tailored to meet specific requirements across various end-use industries. Leveraging strategies such as acquisitions and product launches, they aim to not only bolster sales but also to extend their market presence. Notably, Sealed Air Corporation’s establishment of the SEE Packforum in South America exemplifies their ambition to expand into neighboring markets, reflecting a broader industry trend of globalization and market penetration.

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The global protective packaging market is poised for substantial growth, with a projected valuation of US$ 28.3 billion in 2023 and a steady compound annual growth rate (CAGR) of 5.0% expected to reach US$ 46.1 billion by 2033. This growth is underpinned by the crucial role that protective packaging plays in safeguarding products during warehousing and shipping, especially delicate or fragile items vulnerable to damage during transit.

Protective packaging serves as a buffer that shields products from potential harm or destruction during various stages of the supply chain. It often functions as both primary and secondary packaging, adapting to the specific needs of different products.

The surge in online shopping has significantly boosted the demand for effective protective packaging. As e-commerce continues to expand, the need for secure and reliable protective packaging solutions is set to rise sharply. In 2022, the global protective packaging market accounted for an estimated 2 to 4% of the overall packaging market, valued at US$ 980 billion, indicating its growing importance.

Furthermore, environmental consciousness is driving a shift towards eco-friendly protective packaging solutions. Consumers are increasingly seeking packaging that is biodegradable, compostable, sustainable, or recyclable. This green trend aligns with the growing global focus on sustainability and responsible consumption.

Additionally, modern protective packaging is designed to enhance the customer’s unboxing experience, capitalizing on the popularity of unboxing videos created by social media influencers. Consumers now expect high-quality unboxing experiences that they can share with their online communities, further boosting the demand for innovative protective packaging solutions.

In terms of material, plastic dominates the global protective packaging market, holding an estimated market share of around 52% in 2023. The widespread availability of plastic as a raw material, coupled with its excellent protective barrier properties, makes it a preferred choice in the industry.

Overall, the protective packaging market is poised for substantial growth, driven by the interplay of factors such as e-commerce expansion, sustainability concerns, and the desire to create memorable unboxing experiences for consumers.

key points about the protective packaging market:

  • The growth of the market can be attributed to the rising demand for e-commerce, increasing consumer spending on packed goods, and growing manufacturing activities.
  • Protective packaging is used to protect goods from damage during transportation and storage. It is made from a variety of materials, including plastics, paper, foam, and metal. The type of material used depends on the weight and fragility of the goods being shipped.
  • The e-commerce industry is one of the major drivers of the protective packaging market. The growth of e-commerce has led to an increase in the number of goods being shipped, which has increased the demand for protective packaging.
  • Increasing consumer spending on packed goods is another major driver of the market. Consumers are increasingly spending money on packed goods, which has increased the demand for protective packaging.
  • Growing manufacturing activities is another major driver of the market. The growth of manufacturing activities has led to an increase in the number of goods being produced, which has increased the demand for protective packaging.

Here are some of the trends that are expected to shape the protective packaging market in the coming years:

  • Increased demand for sustainable packaging
  • The growing use of automation in packaging
  • Rise of e-commerce
  • Increasing demand for customized packaging
  • Growing focus on product safety

The e-commerce sector’s expansion is one of the key factors driving the protective packaging market. The necessity for protective packing options that can guarantee the safe and secure delivery of goods has increased as more and more customers turn to online platforms for their shopping needs. This is especially true for pricey and delicate things that require special handling, including jewelry and electronics

Another major driver for the protective packaging market is the need for sustainable and eco-friendly packaging solutions. With increasing awareness about the environmental impact of packaging materials, manufacturers are looking for ways to reduce the carbon footprint of their products. This has led to the development of new and innovative protective packaging materials that are biodegradable and made from renewable resources.

The protective packaging market is segmented into various types of products, including bubble wraps, foam, paper and paperboard, and plastic. Bubble wraps and foam are widely used for protecting fragile items during transportation. Paper and paperboard are commonly used for packaging consumer goods such as food and beverages. Plastic materials are used for packaging a wide range of products, including electronics, medical devices, and industrial goods.

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The protective packaging market is also segmented by end-use industry, with the major industries being consumer goods, healthcare, automotive, and industrial goods. The consumer goods industry is expected to be the largest segment of the market, driven by the increasing demand for e-commerce and the need for efficient and cost-effective packaging solutions. The healthcare industry is also expected to see significant growth, driven by the need for protective packaging for medical devices and pharmaceuticals.

Geographically, the protective packaging market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is expected to be the largest market for protective packaging, driven by the increasing demand for e-commerce and the growing manufacturing industry in the region. North America and Europe are also expected to see significant growth, driven by the increasing demand for sustainable and eco-friendly packaging solutions.

In conclusion, the global protective packaging market is expected to grow significantly in the coming years, driven by the increasing demand for e-commerce and the need for efficient and cost-effective packaging solutions. The market is segmented by product type and end-use industry, with Asia Pacific expected to be the largest market. The major players in the market are focusing on the development of new and innovative protective packaging materials and solutions to meet the growing demand. As the e-commerce continues to grow and consumers become more conscious of the environmental impact of packaging, the protective packaging market is expected to grow even more.

Protective packaging sales are projected to reach US$ 42.4 billion by the end of the projection period. Through the duration of the assessment, there will be an increase in demand for flexible protective packaging. Flexible packaging will continue to be the best-selling product through 2031, accounting for 70% of sales, according to market research on protective packaging.

The Impact of COVID-19 on the Global Protective Packaging Market Orders from the federal, state, and local governments had a significant impact on protective packaging makers and suppliers in 2020. As a result of the federal government’s (United States) instructions to limit the spread of the virus, as well as Shelter-in-Place Orders issued at the state and local levels, businesses have been obliged to adapt or adjust their daily business activities. Protective packaging producers were hampered by business shutdown rules, social distance standards, and reduced municipal and state government office activities in 2020. Due to a decline in demand for protective packaging from end-use industries, the pandemic slowed protective packaging demand.

Packaging is the process of enclosing goods in packages with protective wrappings or other exterior coverings to provide protection, information, safety, and other benefits. Protective packaging helps food items maintain their freshness and flexibility while also extending their preservation life without the use of preservatives.

Technological advancements in packaging are critical in propelling the protective packaging industry forward. The protective packaging market is booming due to a variety of causes, including increased demand from the food and beverage and healthcare industries, as well as a preference for simple packaging. The protective packaging market is expected to rise due to factors such as global industrial output, ongoing technical advances, and customer expansion on packaged goods. Furthermore, the e-commerce industry is expected to cushion the protective packaging market during the forecast period. For businesses, ensuring favourable consumer understanding and addressing their needs is critical.

key takeaways:

Detailed analysis of upstream starting materials, downstream demand, and the current market landscape for each Foam Protective Packaging player Collaborations, R&D projects, acquisitions, and product launches of each Foam Protective Packaging player

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Key players Covered-

  • Sealed Air Corporation,
  • Crown Holdings Inc,
  • Sonoco Products Company,
  • Winpack Ltd,
  • Smurfit Kappa Group
  • DS Smith Plc
  • WestRock Company
  • Schur Flexibles Holding GesmbH
  • Greif
  • International Paper Company
  • Nefab Group
  • Cascades Inc

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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North America’s Parenteral Packaging Industry Set for Substantial Expansion, Driven by Healthcare Investment and U.S. Production Surge

Parenteral Packaging Market

Future Market Insights (FMI) in its market analysis projects the parenteral packaging market to grow at 5.5% CAGR during the forecast period 2021-2031. Driven by the rising necessity of effective packaging solutions for therapeutic drugs without compromising their potency, the parenteral packaging market is forecast to reach a market valuation of US$ 11,460 Mn in 2021.

North America is expected to provide lucrative growth opportunities backed by increasing healthcare spending and rising production rate of parenteral packaging in U.S. Spurred by this, the North American parenteral packaging worth is projected to expand at 4.3% CAGR in 2021.

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Companies are shifting towards prefilled and ready-to-use containers and this is expected to augment the usability of parenteral products in self-medication.

As such, the global market for parenteral packaging is set to witness significant growth in the next 10 years, as estimated in a study by Future Market Insights. According to a report released by the leading market research firm, the global parenteral packaging market is set to exceed US$ 11460 Mn by the end of 2021.

Exhibiting a growth rate of 5.5% in the coming decade, revenue from the sales of parenteral packaging products is slated to experience around 6% year-on-year growth rate in 2021. Sustainability is the buzzword here – manufacturers are steadfast in their focus on addressing environmental concerns; which probably explains the near-death of plastic as a preferred material for parenteral packaging, owing to environmental issues associated with the disposal of plastic parenteral packaging products.

Innovation to Take Centre Stage in the Manufacturing of Parenteral Packaging Products; Automation to Underpin Core Production Processes

With technology having seeped through the global industry fabric, the market for parenteral packaging products is witnessing a new era of advanced processing techniques powered by automation in the packaging industry.

Advanced automation in manufacturing processes has brought in notable modifications pertaining to the provision of drugs to patients, and this integration of automation into core manufacturing systems is trending in the global parenteral packaging market.

Manufacturers are also focusing on deploying high-quality, contamination-free processes to assemble parenteral packaging containers. These processes seek to eliminate incidences of reactions between the material used to manufacture the containers and the actual content (drugs) of the containers, thereby preventing harmful effects on patients consuming the drugs.

Several product recalls in the past have forced manufacturers of parenteral packaging products to select the best material to manufacture containers, and this factor is acting in favour of revenue growth of the global parenteral packaging market.

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Ready-to-Fill Formats and Automated Assembly Lines Trending the Global Parenteral Packaging Market

On the back of sustainability drives by global governments, manufacturers of parenteral packaging products are changing their operations by integrating automated systems in their assembly lines.

A strategic shift from manual to automatic packing lines is bringing in enhanced process efficiency and reducing dependency on manual labor, thereby creating pathways for cost-effectiveness in the long run. Further, the rapidly rising demand for prefilled syringes is benefitting the global parenteral packaging market.

Specific requirements from the healthcare industry for specialty packaging products such as IV pre-mixed systems and single-use vials is also expected to bolster revenue generation in the global market for parenteral packaging in the coming years.

Growth Opportunities:

Over the years, conventional raw materials used to manufacture parenteral packaging products have witnessed several advancements. Add to this the introduction of newer types of material to manufacture parenteral packaging containers, and the global market is suddenly a hotbed of opportunities for manufacturers.

The global parenteral packaging market is witnessing strategic collaboration between manufacturers and suppliers for both the sourcing of appropriate raw materials and the final packaging formats.

For instance, polymers such as cyclic olefin polymers (COP) and cyclic olefin copolymers (COC) are being sought after in large numbers, owing to their inherent advantages over conventional plastic and glass used to manufacture parenteral packaging containers.

The introduction of better raw material types supports increased sophistication in drug delivery technologies, thereby helping manufacturers up their revenue standing in the global market. Needless to say, this is positively impacting revenue growth of the global parenteral packaging market.

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Key Segments:

By Product Type:

  • Vials
  • Pre-filled Syringes & Cartridges
  • Bags
  • Ampoules
  • Ready to Use Systems

By Material Type:

  • Glass
  • Plastic
    • Polyvinyl Chloride (PVC)
    • Polyolefin

By Packaging Type:

  • Small Volume Parenteral (SVP)
  • Large Volume Parenteral (LVP)

Region:

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • APEJ
    • China
    • India
    • Australia & New Zealand
    • ASEAN
    • Rest of APEJ
  • Japan
  • MEA
    • GCC Countries
    • South Africa
    • Rest of MEA

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Anti-Aging Products Services and Devices Industry Set for a 5.5% CAGR Surge to Reach US$ 109.8 Billion by 2033

The global market for Anti-Aging Products, Services, And Devices is poised for significant expansion, with a projected Compound Annual Growth Rate (CAGR) of 5.5% expected between 2023 and 2033. In 2022, the market was estimated to be valued at approximately US$ 59 billion. Projections from Future Market Insights (FMI) indicate a substantial revenue surge, with the anti-aging market forecasted to grow from US$ 64.0 billion in 2023 to an impressive US$ 109.8 billion by 2033.

In a world where the quest for youthfulness has become a focal point, the global cosmetics and skincare industry has harnessed this aspiration, fueling the demand for anti-aging products, services, and devices. Diverse user segments, encompassing both the young and the mature, are driving this surge, spurred by heightened self-awareness of their physical appearance.

While aging is an intrinsic biological process, the influence of extrinsic factors such as air pollution, harmful UV ray exposure, and alcohol consumption cannot be underestimated for their role in skin cell damage and premature aging. Anti-aging creams and lotions, which help maintain skin moisture and a youthful radiance, have become indispensable components of modern life.

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Growing prevalence of skin disorders such as atopic dermatitis, melanoma and non-melanoma skin cancer will improve the adoption of anti-ageing treatment.

With rising awareness regarding skin care routine and growing urgency to have younger looking skin have amplified the sales of products rich with retinols, moisturizer and dermal fillers reducing wrinkle lines among women.

Another key factor responsible for growing revenues in the anti-ageing market is promotion and advertisements featuring celebrities to endorse the products and treatments.

As such, key players are adopting different strategies to boost their revenue generation, fueling the market growth.

Key Takeaways from FMI’s Anti-Ageing Products, Services, and Devices Industry Study

  • In terms of application, anti-wrinkle treatment is anticipated to be the largest segment in terms of revenue
  • Anti-cellulite treatment will witness robust growth owing to the increasing number of people undergoing this procedure across the U.S. and the UK
  • The U.S. is anticipated to register high demand, leading the North America market over the forecast period
  • The UK and France will witness steady growth owing to the increasing ageing population and rising prevalence of skin disorders in the region
  • Driven by increasing demand of anti-ageing products among ageing population, Germany recorded notable growth, accounting for 15% of global market share
  • India is anticipated to emerge as a lucrative market backed by the high demand of cellulite treatment and chemical peels in the country

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Anti-Ageing Products Services and Devices Industry by CategoryBy Application:

  • Anti-Pigmentation Therapy
  • Anti-Cellulite Treatment
  • Anti-Wrinkle Treatment
  • Acne Management
  • Scar Treatment
  • Others

By Product Type:

  • Creams
  • Moisturizers
  • Retinols
  • Dermal Fillers
  • Botulinum Toxin
  • Chemical Peels
  • Cellulite Treatment
  • Non-Surgical Fat Reduction
  • Others

By Distribution Channel:

  • Dermatology Clinics
  • Hospitals, Pharmacies, Drugstores
  • Rejuvenation Centers
  • Others

Competitive Landscape

Prominent players in the market are focusing on strategic mergers and collaboration to expand their global footprint in the market.

New product launches coupled with increasing research & development activities for the development of advanced anti-ageing products & devices will also be one of the key strategy to enhance their customer base for market players.

For instance, in December 2020, Devonian Health Group, a global clinical stage botanical pharmaceutical corporation, announced the launch of R-Spinasome anti-ageing technology global sales and marketing partnerships.

Also, in January 2021, Aptar Beauty, announced the development of its first airless roll-on capsule for LightinDerm Skincare Device.

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Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Booming Pharmaceutical Industry Spurs Remarkable Growth in the USA’s Temperature-Controlled Pharma Packaging Solutions Market

Temperature Controlled Pharma Packaging Solutions Market

The rapid growth of the USA temperature-controlled pharma packaging solutions market is primarily attributed to the country’s numerous pharmaceutical manufacturers and the escalating demand for temperature-sensitive medical products. This expansion is fueled by a thriving pharmaceutical sector, creating increased need for vaccines and pharmaceuticals, all of which require precise temperature control.

The global temperature-controlled pharma packaging solutions market is on a robust growth trajectory, poised to achieve a remarkable 7.8% CAGR and reach a valuation of US$ 7.4 billion by 2032, a significant increase from the US$ 4 billion recorded in 2022. This impressive expansion can be attributed to several key factors, including the dynamic and rapidly growing pharmaceutical industry, which is continually developing new medications and drugs.

One notable trend within this market is the incorporation of cutting-edge technologies, leading to the creation of smart thermal boxes that enhance the temperature control and protection of pharmaceutical products. For instance, the acquisition of Brasil Participacoes Ltd. by Sonoco Products Company in April 2022 highlights the industry’s commitment to innovation and growth.

However, it’s important to note that the temperature-controlled pharma packaging solutions market faces challenges, particularly related to stringent regulations governing the packaging of pharmaceutical products. These regulations can potentially hinder market growth by imposing rigorous requirements on packaging practices.

Nonetheless, the market’s resilience is evident as it has already seen a 50 basis point (BPS) increase in H1-2022 compared to H1-2021, and this growth is expected to continue. The ability of these solutions to preserve product temperature and extend shelf life remains a driving force in their adoption, ensuring their continued importance in the pharmaceutical supply chain.

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According to FMI’s analysis, the temperature-controlled pharma packaging solutions market is anticipated to experience a growth increase of 50 basis share points (BPS) in H1-2022 compared to H1-2021. This growth projection adjustment is attributed to the market’s core function of preserving product temperature, subsequently extending shelf life.

Despite potential hurdles, the vibrant pharmaceutical industry’s rapid expansion and the emergence of novel medications and drugs continue to drive demand for temperature-controlled pharma packaging solutions. This growth trajectory aligns with the pharmaceutical sector’s unwavering need for precise and effective temperature-sensitive packaging to ensure product efficacy and safety.

Moreover, the integration of technologically advanced tools into temperature controlled pharma packaging solutions will further propel the market to grow. Due to stronger packaging regulations, the market players are focused on quality packaging as well as on compliance with the regulations. Thus, these players are utilizing cost effective and technologically advanced temperature-controlled pharma packaging solutions. Plenty of lucrative market opportunities are offered to the temperature-controlled pharma packaging solutions market due to the use of next-gen tracking technology and high insulation-based packaging solutions.

Although the target market faces healthy market prospects over the forecasted period, implementation of stringent regulations regarding the packaging of pharmaceutical goods may impede the market growth of temperature controlled pharma packaging solutions.

“This will stimulate the market prospects for temperature-controlled pharma packaging solutions over the forecast period,” says an FMI analyst.  

Key Takeaways:

  • Technological enhancements to increase market growth over the forecast period.
  • High maintenance and investment costs may hamper market prospects.
  • The temperature controlled pharma packaging solutions market in Europe is predicted to dominate the global space.
  • Increasing use of temperature sensitive medical products will prompt market growth in the U.S.
  • China will register a high growth rate of the target market over the assessment period.
  • By product type, insulated shippers segment will lead the market growth.

Competitive Landscape 

Sonoco Products Company, Pelican Biothermal, Sofrigam SA Ltd., Cryopak, Cold Chain Technologies, Envirotainer Ltd., va-Q-tec AG, Inmark Packaging, American Aerogel Corporation, and others are some of the major players in the temperature controlled pharma packaging solutions market that are profiled in the full version of the report.

Major market players are focusing on utilizing technological innovations and advancements to expand their business. These organizations are increasing their investment in research and development activities to introduce more efficient products in to the market to gain a competitive advantage.

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More Insights into the Temperature Controlled Pharma Packaging Solutions Market Report

In its latest report, FMI offers an unbiased analysis of the global temperature controlled pharma packaging solutions market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented based on product (insulated shippers (panels and envelopes, EPS foam containers, fiberboards, PUR containers), insulated protective shippers, insulated containers (chest style, upright style), others (refrigerants, gel, icepacks, phase change materials, etc.), application (frozen temperature controlled pharma packaging solutions, chilled temperature controlled pharma packaging solutions, ambient temperature controlled pharma packaging solutions), and region.

According to the latest FMI reports, based on region, the temperature controlled pharma packaging solutions market in Europe will likely dominate the global arena. The target market in this region is expected to grow and develop at a rapid rate during the projected period. Escalating disease outbreaks coupled with high demand for cold storage for medical goods in the healthcare sector will drive the market growth during the assessment period.

Apart from Europe, countries like the U.S. and China are projected to exhibit impressive growth over the forecasted period. A prosperous pharmaceutical industry along with rising demand for vaccines and other temperature sensitive medical goods foster market growth in the U.S. whereas in China, the market growth is driven by extensive research and development activities on thermal packaging solutions.

Based on segmentation, on the basis of product type, the insulated shippers segment is estimated to account for the highest revenue while the chilled temperature controlled pharma packaging solutions segment will register the highest demand over the forecast period.

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Key Segments of Industry Survey

 By Product:

  • Insulated Shippers
    • Panels and Envelopes
    • EPS Foam Containers
    • Fiberboards
    • PUR Containers
  • Insulated Protective Shippers
  • Insulated Containers
    • Chest Style
    • Upright Style
  • Others (Refrigerants, Gel, Icepacks, Phase Change Materials, etc.)

 By Application:

  • Frozen
  • Chilled
  • Ambient

 By Region:

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

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Indian Hemostat Industry’s Strong 5.8% CAGR Forecast from 2016 to 2025 | FMI Study

In 2015, the Indian Hemostat Industry showcased an impressive valuation of US$ 54.1 million, marking a significant milestone in the healthcare sector. A new era of expansion is on the horizon, as it is projected to maintain a compound annual growth rate (CAGR) of 5.8% from 2016 to 2025.

This remarkable growth is attributed to a combination of factors, primarily driven by continuous advancements in hemostatic products and the increasing acceptance of these innovative solutions among healthcare professionals and surgeons across the nation. The relentless commitment to product development has paved the way for safer, more efficient surgical procedures, ultimately benefiting patients and practitioners alike.

Furthermore, the surge in adoption is strongly fueled by the rising number of surgical procedures and trauma cases throughout the country. As India’s healthcare landscape continues to evolve, the demand for hemostatic products is set to witness an upward trajectory, significantly contributing to the overall growth of the market.

The Indian hemostat industry is poised for a promising future, and stakeholders can anticipate a continued journey of advancement and expansion in the coming years.

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However, India’s hemostat market is projected to register a healthy CAGR of 5.8% during the forecast period owing to factors such as benefits offered by these products and creating product image of hemostat among key opinion leaders such as healthcare professionals. Moreover, the increasing number of accidents and trauma injuries is expected to drive the growth of the Indian hemostat industry during the forecast period. This report assesses trends driving the growth of each segment in the market and offers potential takeaways and strategic recommendations for manufacturers seeking to enter the market.

This report covers the Indian hemostat industry and various segments in terms of revenue contribution. The report also includes FMI’s analysis of key trends, drivers, restraints, and opportunities that are influencing the growth of the Indian hemostat industry. Impact analysis of key growth drivers and restraints is included in this report to better equip clients with crystal-clear decision-making insights.

The hemostat industry is segmented based on product type, product material base, applications, and distribution. Based on product type, the market has been segmented into mechanical product type and flowable product type. The mechanical type segment is expected to register a CAGR of 6.0% during the forecast period. The flowable type segment is expected to witness a decline in market share in terms of revenue from 11.7% in 2015 to 10.1% in 2025. Overpriced products are expected to affect demand for hemostat products over the forecast period.

Basically, there are two product material bases; gelatin base and oxidized cellulose base, gelatin base comprises 77.0% market share of the hemostat industry in India owing to the maximum usage of gelatin in all hemostat products as it has the property of absorbing blood flow at a faster speed and healing the wound.

Furthermore, hemostat products are segmented into applications, surgeries, and trauma cases. The surgery segment is expected to witness a decline in market share in terms of revenue from 63.7% in 2015 to 61.8% in 2025. The trauma cases segment is expected to expand at the highest CAGR of 6.3% over the forecast period.

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The market has also been segmented by distribution channel into hospitals, ambulatory surgical centers, clinics, and online channels. The hospital’s segment followed by ambulatory surgical centers is expected to account for the highest demand for hemostat products over the forecast period, registering a CAGR of 7.0% and 5.7%.

Due to reimbursement for surgeries by insurance payers and increased in adoption of hemostat products by medical practitioners and surgeons. To reach out to the consumers and healthcare professionals manufacturers are supplying products through E-Commerce which is expected to push demand for hemostat products in the online channel over the forecast period.

Furthermore, Future Market Insights has developed a market attractiveness index for all four segments: product type, product base, application, and distribution channel segments. This index helps in identifying the real opportunities in the market.

Key market players covered in this report

Johnson and Johnson (Ethicon), Baxter, Aegis Lifesciences, Eucare Pharmaceuticals, and Mil Laboratories. Major players are focusing on enhancing their regional presence through strategic mergers & acquisitions and by expanding operations.

Key Segments Covered

Segmentation on the basis of Product Type

  • Mechanical type
  • Flowable type

Segmentation on the basis of Product Material Base

  • Gelatin
  • Oxidized cellulose

Segmentation on Basis of Application

  • Surgery
  • Trauma cases

Segmentation on the basis of Distribution Channel

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Online Channels

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Lecithin and Phospholipids Market Set to Achieve US$ 3.3 Billion by 2033

The lecithin and phospholipids market is valued at US$ 1.7 billion in 2023. The market is expected to reach a valuation of US$ 3.3 billion by 2033, and is projected to grow at a CAGR of 7.1% during the forecast period.

Lecithin and phospholipids are frequently used in medicine. Neurologists primarily recommend them for Alzheimer’s disease treatment. Aside from that, these are utilised to treat illnesses such as high blood pressure, anxiety, and others. These elements are also plentiful in nature, making them easily accessible.

Demand for lecithin and phospholipids may rise as the convenience food and fast-food businesses expand. During the forecast period, their ability to act as antioxidants and taste protectors is predicted to increase their market share. They are also used to eliminate lumps and give beverages a delicate texture.

As a result of urbanisation, many people have abandoned traditional practises. People choose to dine at quick service restaurants rather than cook for themselves due to their hectic lifestyles. These restaurants are well-known for freely use soy. According to the study, fast food outlets may see a major increase in the next years. These conditions may raise demand for lecithin and phospholipids.

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The capacity of lecithin and phospholipids to act as emulsifiers is leading to their widespread use in the chocolate business. Furthermore, they help to moisten the consumables and extend their shelf life. These features have generated a lot of interest among key participants in the food sector.

Furthermore, a lot of key players are also investing on the development of liquid lecithin and phospholipids plants. The purpose is to scale up the production of these elements, and cut down the existing demand supply gap.

However, the side effects which include allergy, and an increase in the price of raw materials is expected to hinder the progress of the market.

Key Takeaways:

  • The market is anticipated to grow at a CAGR of 7.1% in 2023-2033.
  • In 2023, the market is valued at US$ 1.7 billion.
  • As of 2033, the lecithin and phospholipids market is projected to reach a valuation of US$ 3.3 billion.
  • Based on the regional analysis, Asia Pacific is expected to be the largest market.
  • USA market is projected to grow at a CAGR of 6.5%.
  • UK market is anticipated to grow at a CAGR of 4.8%.
  • China market is expected to grow at a CAGR of 10.3%.
  • Japan lecithin and phospholipids market is projected to surge at a CAGR of 11%.
  • South Korea market might advance at a CAGR of 8.6%.
  • Based on the product type, the chemically modified lecithin is expected to hold the largest market share during the forecast period, and is projected to grow at a CAGR of 7.8%.
  • On the basis of form, the powder segment is projected to hold the highest market share during the forecast period, and is anticipated to grow at a CAGR of 7.2%.

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Competitive Landscape

The key players operating in the lecithin and phospholipids market are looking for production expansion. Apart from that, there are also measures being taken to carry out profitable mergers. There is also a massive investment that is being made in the technological aspect of the business. The key players are also making massive investments in the R&D to give special focus on the quality management.

In February 2022, Lecico was the proud recipient of Platinum medal by EcoVadis for its sustainability actions.

Lecithin and Phospholipids Market Segmentation

By Product Type:

  • Unrefined Lecithin (Soybean Lecithin, Sunflower Lecithin, Rapeseed Lecithin, Others),
  • Refined Lecithin,
  • Chemically Modified Lecithin

By Form:

  • Powder,
  • Granules,
  • Liquid

By Nature:

  • GMO,
  • Non-GMO

By Function:

  • Emulsifier,
  • Dispersing Agent,
  • Surfactants,
  • Others

By Application:

  • Bakery & Confectionary,
  • Dairy Products,
  • Infant & Dietetic Food Products,
  • Meat & Poultry Items,
  • Instant Foods,
  • Other Processed Foods,
  • Dietary Supplements & Pharmaceuticals,
  • Cosmetics,
  • Animal Feed

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Electronic Medical Records (EMR) Industry Surges with a 6.2% CAGR to Reach US$32.3 Billion by 2033 | FMI Insights

The Global Electronic Medical Records (EMR) Industry is on a trajectory of remarkable growth, with a projected valuation of US$ 32.3 billion by the year 2033, up from US$ 17.6 billion in 2023. This surge reflects an impressive Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period, underlining the escalating adoption of electronic medical records (EMR) across the healthcare landscape.

The driving force behind this growth is the substantial increase in healthcare spending by both non-government and governmental entities during the forecast period. The rising investments in healthcare infrastructure and patient care enhancement are propelling the EMR market towards unprecedented expansion.

As the healthcare industry seeks scalable solutions to meet evolving demands, numerous healthcare providers are opting for electronic health records as a software-as-a-service (SaaS) model. This approach ensures seamless integration, improved data accessibility, and greater operational efficiency, contributing to the market’s overall momentum.

The future of healthcare is being reshaped by EMR systems, providing comprehensive, secure, and accessible patient data management. As the industry continues to evolve, the global EMR market is poised to play a pivotal role in enhancing healthcare delivery and

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The market is expanding as a result of an increase in the number of benefits, including lower infrastructure and maintenance expenses, lower license and start-up costs, and greater accessibility. Improved productivity and quicker, simpler adoption are two benefits of cloud-based EMR solutions. The application is incredibly scalable because of its cloud-based architecture (pay-as-you-go storage utilization). It removes departmental silos of healthcare data to streamline and consolidate storage resources in order to reduce costs and boost efficiency.

Large, well-known firms are starting to enter the cloud sector. In order to maintain the level of patient care, the cloud infrastructure also provides real solutions for business continuity and disaster recovery. As a result, it is anticipated that the market for cloud-based EMR would expand dramatically. To give medical staff relatively easy access to patient records, digital revolution in healthcare is essential. During the projection period, it is predicted that growing need for systems and software that connect hospitals, clinics, and other healthcare facilities would become a growth driver.

A greater emphasis is placed on strategic partnerships between leading suppliers of electronic medical record solutions as market rivalry intensifies. Additionally, it is projected that the constantly growing need for knowledge sharing and technology upgrades to improve healthcare efficiency will foster partnerships between important actors.

Key Takeaways from the Electronic Medical Records (EMR) Industry

The US electronic medical records (EMR) market is anticipated to expand at a CAGR of 6% over the forecasted period.
By 2033, it is anticipated that the cost of implementing electronic medical records (EMR) in the US will surpass US$ 18.4 Bn.
The UK electronic medical records (EMR) industry is anticipated to expand at a CAGR of 8.4% throughout the anticipated time frame.
By 2033, the UK’s sales of electronic medical records (EMR) systems are anticipated to surpass US$ 1.6 billion.
The market for electronic medical records (EMR) in India is anticipated to expand at a CAGR of 8.2% over the forecasted period.
By 2033, the Indian market for electronic medical records (EMR) is anticipated to reach more than US$ 255.0 Mn.
In 2021, the market for electronic medical records (EMR) was dominated by cloud-based EMRs, which accounted for more than 50.0% of total revenue.
Hospital electronic medical records (EMR) are expected to increase at a CAGR of 6.4% over the course of the forecast period as a result of rising pandemic and epidemic infections, as well as the requirement for global vaccination against a wide range of diseases.

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Who is Winning?

According to Future Market Insights (FMI), top EMR solution providers are building alliances with the local healthcare system, engaging in mergers and acquisitions, and bolstering their distribution networks in an effort to develop and explore the underdeveloped markets of Asia and Latin America. To break into middle-income and emerging markets, market companies are also concentrating on raising awareness, lowering the price of EMR software and related services, and fusing EMR with contemporary technologies.

Microsoft Corp. acquired Nuance Communications, Inc. in April 2021 with the goal of empowering healthcare providers with the power of ambient clinical intelligence and other Microsoft cloud services.
Capital Health, a regional leader in providing cutting-edge, high-quality patient care, introduced a new electronic health record (EGR) in the acute care divisions of both of its hospitals in February 2021 to better serve its patients.
The “Patient” database personal health record (PHR) of the patient will now be able to safely transfer the patient’s existing health records from the “Patient” database onto the Apple Health app, according to a May 2021 announcement from DrChrono. This should simplify the procedure and make it easier to access medical data more quickly.

Key Segments Covered in Electronic Medical Records (EMR) Industry Study

By Product Type:

  • Hospital EMR
  • Ambulatory EMR

By Component:

  • EMR Software
  • EMR Services

By Application:

  • Client Server Setup EMR
  • Hybrid Server Setup EMR
  • Cloud Based EMR

By End User:

  • Hospitals
  • Specialized Clinics
  • General Physician Clinics
  • Ambulatory Surgical Centers

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Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
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Global Companion Animal Drugs Industry to Attain US$ 59.2 Billion by 2033 at 4.4% CAGR | FMI Analysis

The Global Companion Animal Drugs Industry is on a steadfast growth trajectory, projected to attain a remarkable 4.4% Compound Annual Growth Rate (CAGR), ultimately reaching a substantial market valuation of US$ 59.2 billion by the close of 2033, compared to the US$ 36.7 billion recorded in 2022.

Companion animals, including beloved pets such as dogs, cats, and horses, receive essential medications designed to safeguard their health and shield them from infections and various health concerns. Companion animal veterinarians play a pivotal role in administering these medications, ensuring the speedy recovery of pets post-surgery, diagnosing and treating ailments, and maintaining their overall well-being.

The significance of companion animal medications extends beyond the well-being of our cherished pets. These drugs also contribute to safeguarding the health of the entire family, protecting them from any potential health risks that pets might pose. In essence, companion animal medications play a vital role in fostering not only the health of our furry friends but also the peace of mind and well-being of those who care for them.

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Increasing Urbanization and Growing Affluence in Developing Countries to Benefit the Market
Increasing urbanization level and growing affluence, especially in developing countries, have been driving the adoption of pets, thus leading to increased demand for healthcare products for pets such as companion animal drugs. Continued urbanization has also resulted in increasing prevalence of various diseases such as allergies, lower appetite, reduced energy and behavioral anxieties among small companion animals. This has been driving the demand for innovative classes of medicines such as companion animal drugs.

Upcoming Therapeutic Innovations in Pet Care to Aid Market Growth
Besides traditional drugs, animal health companies have also been investing in smart diagnostic care to help prevent diseases before the actual onset. Companies are also trying to develop generic capabilities to demonstrate bioequivalence to reference prescription drugs in the companion animal drugs market, as many key drugs no longer benefit from intellectual property protection. The development of new vaccines and medications for animals are expected to support the growth of the companion animal drugs industry over the forecast period.

Increasing R&D activities and shorter drug-lifecycle are playing an important role in the growth of the companion animal drugs industry. Innovations in companion animal drugs are easier and sustainable for a longer period of time, while R&D cycle time are shorter (~ three years) in the Companion Animal Healthcare (CAH) industry as compared to human health, ranging between seven and 15 years for other drugs. This increases return on investment in companion animal drugs and leads to faster profits for the market players.

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Collaborative Ventures to Promote the Companion Animal Drugs Industry Growth
Collaborative ventures such as One Health promotes unification of veterinary and medical sciences, leading to better disease surveillance, control and education, especially for companion animals such as dogs and cats. One Health venture enables identification of alteration in infection travelling patterns. The patterns are changing mostly in case of parasites due to change in climate and increasing host-vector interactions. Some organizations helping in monitoring of One Health in companion animals are Companion Animal Parasite Council and European Scientific Counsel Companion Animal Parasites.

Such ventures are expected to complement the growth of the companion animal drugs market.

Low Awareness of Animal Diseases to Hamper the Companion Animal Drugs Industry Growth
In many developing countries, people lack awareness regarding certain serious companion animal diseases as opposed to livestock diseases, which are more regularly monitored. This is primarily true with regards to pet vaccinations, which is a mandatory requirement for up to three years. Additionally, parasitic medications for companion animals and livestock are different. Lack of awareness with regards to differentiation of these medication varieties leads to adverse drug side effects and thus low administration of companion animal medications. Such factors are likely to create a hindrance in the growth of the companion animal drugs market.

Also, majority of animal healthcare drugs have limited scope for patent extension, primarily due to drug portfolios dominated by drugs that have crossed maturity, which in turn is expected to deter the growth of the companion animal drugs industry over the forecast period.

Key Players in the Companion Animal Drugs Industry:

  • Zoetis Inc.
  • Merck & Co, Ltd.
  • Bayer AG
  • Elanco
  • Boehringer Ingelheim GmbH (Merial)
  • Virbac Animal Health
  • Ceva Santè Animale

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Key Segments Covered in Companion Animal Drugs Industry Research

Product:

  • Antibiotics
  • Anti-inflammatory
  • Parasiticides
  • Heartworm
  • Behavioral Products
  • Nutritional Products
  • Skin Care Products
  • Vaccines

Distributional Channel:

  • Veterinary Hospitals
  • Veterinary Clinics
  • Pharmacies and Drug Stores

Author

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

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

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

About Future Market Insights (FMI)

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

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