Market Research Blog – Page 5 – New Product Development

Drug Discovery Services Market to Reach USD 76.5 Billion by 2033 with a CAGR of 14.5%

The global drug discovery services market is poised for remarkable growth, with its valuation projected to surge from US$ 19.7 billion in 2023 to US$ 76.5 billion by 2033, reflecting a compound annual growth rate (CAGR) of 14.5% over the forecast period. This exponential growth is driven by the rising demand for novel drugs to combat a wide range of unmet medical needs.

The continuous emergence of new diseases and the growing prevalence of neurodegenerative, cancer, rare genetic, and cardiovascular diseases have intensified the need for innovative drug discovery solutions. Despite advancements in healthcare, effective treatments for these conditions remain limited, leading to increased investments in drug discovery research and development (R&D). The development of precision medicines and targeted therapies is also spurring market growth.

The shift toward outsourcing drug discovery services is playing a pivotal role in market expansion. Pharmaceutical and biotechnology companies are increasingly relying on external partners to accelerate drug discovery, reduce operational costs, and leverage specialized expertise. This outsourcing trend is fueling demand for advanced technologies like AI-driven drug discovery, high-throughput screening, and computational biology, which are revolutionizing the drug development process.

With pharmaceutical firms racing to discover treatments for emerging diseases and chronic conditions, the market for drug discovery services is expected to maintain strong momentum. Investments in research collaborations, innovative drug development platforms, and personalized medicine will continue to support sustained market growth throughout the next decade.

A Full Report Analysis – https://www.futuremarketinsights.com/reports/drug-discovery-services-market

Key Takeaways:

The global drug discovery services market is projected to grow from US$ 19.7 billion in 2023 to US$ 76.5 billion by 2033, with a CAGR of 14.5%.
Growing demand for drugs to treat neurodegenerative, cancer, rare genetic, and cardiovascular diseases is driving the market.
The rise in outsourcing drug discovery services is fueling demand for AI-driven screening, high-throughput screening, and computational biology.
Investments in personalized medicine, R&D collaborations, and precision drug development are expected to support sustained market growth.

Market Drivers

Unmet Medical Needs: There is a continuous demand for new drugs to address various unmet medical needs, particularly for diseases such as neurodegenerative disorders, cancer, rare genetic conditions, and cardiovascular diseases.
Emergence of New Diseases: The rise of new diseases is escalating the demand for innovative drug discovery solutions, further driving the market.
Advancements in Drug Discovery Techniques: Innovations in drug discovery methodologies and technologies are enhancing the efficiency and effectiveness of the drug development process.
Increased R&D Expenditure: Pharmaceutical companies are increasing their research and development expenditures to discover novel drugs, contributing to market growth.
Collaboration Between Stakeholders: Enhanced collaborations between pharmaceutical companies, academic institutions, and contract research organizations (CROs) are fostering advancements in drug discovery services.

Which Growth Strategies are Likely to be Adopted by Market Players?

The global drug discovery services market is competitive, with Laboratory Corporation of America Holdings (United States), Charles River Laboratories International Inc. (United States), WuXi AppTec (China), and Thermo Fisher Scientific Inc. (United States) collectively accounting for a large portion of the market. The United States-based company, Laboratory Corporation of America Holdings, is a prominent player in the global market.

These key players in the global drug discovery market focus on a broad spectrum of clients. They emphasize incorporating modern and advanced technology-enabled solutions. Increasing investments in joint ventures & partnerships are likely to be prevalent as key strategies. Extensive quality systems and processes contribute to the growth of businesses operating in the market. These companies may use organic and inorganic growth techniques, such as acquisitions and expansions, to tap into new demographics.

Several drugs are pending approval from the United States Food and Drug Administration (FDA).

Anticipated Drug Approvals in 2023:

In January 2023, Genentech declared that it received a Priority Review and Fast Track designation grant for Glofitamab. The drug is a novel bispecific antibody that engages T-cells of the immune system to treat adult patients with refractory or relapsed LBCL.
In January 2023, Brexpiprazole, an atypical antipsychotic supplement NDA approved for schizophrenia was put under Priority Review by FDA. Brexpiprazole is a drug developed by H. Lundbeck A/S and Otsuka Pharmaceuticals.
In January 2023, UCB’s Rozanolixizumab was accepted by the FDA for further Phase III study.
In December 2022, Harm Reduction Therapeutics announced that FDA accepted and granted Priority for Review to their NDA for RiVive. The product is an over-the-counter naloxone nasal spray.

Key Players in the Market

Laboratory Corporation of America Holdings
Charles River Laboratories International Inc.
Genscript Biotech Corporation
Thermo Fisher Scientific Inc.
Pharmaron Beijing Co. Ltd.
Evotec SE
Eurofins Scientific SE
Pharmaceutical Product Development Inc.
Piramal Enterprise Limited
Syngene International Limited

Market Segmentation

By Process:

Target Selection
Target Validation
Hit-to-lead identification
Lead Optimization
Candidate Validation

By Type:

Chemistry Services
Biology Services

By Drug Type:

Small Molecule Drugs
Biologics Drugs

By Therapeutic Area:

Neurology
Infectious and Immune Systems Diseases
Digestive System Diseases
Oncology
Other Therapeutic Areas

By End User:

Pharmaceutical & Biotechnology Companies
Academic Institutes
Manufacturing
Other End Users

By Region:

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

Explore FMI’s Related Ongoing Coverage on Healthcare Market Insights Domain:

Body Contouring Market
Pancreatic Stone Protein Testing Market
Gastric Space-Occupying Devices Market

Author By:

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

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

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

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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

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Global Shot Blasting Machine Market Set to Reach USD 1.98 Billion by 2033 with a Robust CAGR of 5.1%

The size of the worldwide shot-blasting machine market is anticipated to expand tremendously between 2023 and 2033. The global market is anticipated to achieve a valuation of USD 1,202.4 million in 2023, according to the research report released by Future Market Insights. By 2033, its value is projected to reach USD 1,977.2 million. From 2023 to 2033, the market is anticipated to exhibit a fantastic CAGR of 5.1%.

Growing demand for shot-blasting equipment from the construction and automotive sectors is expected to drive the demand for semi-automatic shot-blasting machines in the forthcoming years.

Further, manufacturers are offering customized shot blasting machines to improve sales in the market. They are focusing on innovative technologies and techniques to improve the performance of these machines. This is expected to augment the. Growth of the market in the forthcoming years.

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As per FMI, sales in China and India are expected to increase at a considerable pace owing to rapid urbanization, increasing sales of electric vehicles, and growing residential and commercial establishments.

“Increasing applications of shot blast machines in the aviation sectors, along with surging demand for roller conveyor shot blasting machines will continue boosting the growth in the market over the forecast period,” says an FMI analyst.

Key Takeaways From the Shot Blasting Machine Market Study:

In terms of product type, sales of wheel blasting machines are projected to increase at a 3.8% CAGR through 2031.
Based on automation, demand in the semi-automatic segment will grow at a 4.1% CAGR over the assessment period.
Sales in the automotive sector will increase at a steady 4.2% CAGR over the forecast period.
The U.S. will dominate North American shot blasting machines market, expanding at a 4% CAGR.
The U.K. will emerge as a lucrative pocket in the Europe shot blasting machines market, with sales growing at a 4.3% CAGR.

The global shot blasting machines market is extremely consolidated. Market players are competing to increase their global footprints by advancing their product portfolio through technological innovations and new product development. Players are also expanding their sales channels in emerging markets through collaborations and are focusing to provide a global service network to end-users.

Find More Valuable Insights The research report analyzes the market demand trends of the shot blasting machine market. The global market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of Shot Blasting Machines.

As per Future Market Insights’ research scope, the Shot Blasting Machine Market has been studied and segmented based on product type, automation, end-use industry and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market on both, the supply-side and demand side.

Competitive Landscape

Some of the leading players in the market are :

SINTOKOGIO LTD.
Rösler Oberflächentechnik GmbH
Norican Group
SHANDONG KAITAI GROUP CO. LTD.
Surface Finishing Equipment Company
Qingdao Huanghe Foundry Machinery Factory
Guyson Corporation

Shot Blasting Machine Market Segmentation:

By Product Type:

Wheel Blasting (Hanger Type, Roller Conveyor, Tumblast, Others)
Air Blasting (Cabinet Type, Table Type, Frame Type, Others)

By Automation:

Semi-Automatic
Automatic

By End-use:

Aerospace
Automotive
Construction
Foundry
Ship Building
Rail
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Europe Water Pumps Market Poised for 4.3% CAGR, Projected to Reach USD 98.6 Billion by 2033

The Europe Water Pumps Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Europe Water Pumps market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Europe Water Pumps. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The Europe Water Pumps Market is poised for substantial growth within its operational segment, particularly in the water supply category. This notable expansion can be attributed to the extensive application of water supply pumps, encompassing critical activities such as rainwater harvesting and groundwater intake. As environmental concerns continue to intensify, the demand for effective and sustainable water management practices becomes imperative.

According to a report by Future Market Insights, the Europe water pumps market is projected to reach a valuation of USD 64.74 billion in 2023. The market is anticipated to secure a Compound Annual Growth Rate (CAGR) of 4.3% from 2023 to 2033, with a predicted value of USD 98.6 billion by the end of 2033. This growth trajectory underscores the increasing significance of water supply solutions in addressing environmental challenges and the growing need for efficient water resource management in the region.

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The Europe water pumps market is experiencing widespread adoption, driven by its capacity to operate with high adaptability while efficiently pumping low-viscosity fluids at cost-effective rates. The availability of submersible pumps in various shapes and sizes offers end users the flexibility to make purchases tailored to their specific requirements.

Within the operational segment, the water supply category is anticipated to witness a notable growth rate in the Europe water pumps market in the coming years. This growth can be attributed to the extensive application scope of water supply pumps, encompassing activities such as rainwater harvesting and groundwater intake.

The ongoing trend of rural-to-urban migration, driven by job opportunities and aspirations for improved living standards, is contributing to the increasing demand for water pumps. Furthermore, the active involvement of European governments in infrastructural development initiatives is acting as a catalyst for the rapid expansion of the Europe water pumps marketTop of Form.

Key Takeaways from the Market Study

Sales of Europe water pumps market expanded at a CAGR of 3.39% from 2018 to 2022
Germany market for Europe water pumps market is likely to have a market share of 17.2%
Asia Pacific market for the Europe water pumps market is projected to secure a share of 15.26%.
Europe water pumps market recorded USD 63.2 billion in 2022.
Europe water pumps market to expand at over 3.6 % CAGR through 2031.
Market for water pumps in Germany is expected to create an absolute dollar opportunity of USD 446.4 million during the forecast period.
Water pumps market in the United Kingdom is expected to rise at nearly 2.8% CAGR over the forecast period.
Water pumps market in the United Kingdom is expected to have a market share of 7.89%.
The United Kingdom is expected to create an absolute dollar opportunity of USD 269.4 million during the forecasted period.
Asia Pacific region is anticipated to augment the market growth with a market share of 15.26%.
China is predicted to expand with a CAGR of 4.8% from 2023 to 2033.
China holds a share of 6.75% of the market.
Submersible pumps segment is one of the most attractive pump types in the Europe water pumps market holding a market share of 5.2%.
Industrial water pumps are estimated to expand at a value of 4.49%.

“Introduction of intelligent pump systems acts as a prominent growth driver of the Europe water pumps market”, comments a Future Market Insights Analyst.

Competitive Landscape

Some of the Leading Players Operating in the Global Market are:

Xylem Inc
Grundfos Holding A/S
Flowserve Corporation
Andritz Group
Ebara Corporation
KSB AG
Sulzer Ltd
Gorman Rupp Co.
Franklin Electric
ITT Inc

Important Developments by Key Players:

In June 2023, Cordonel®, an innovative ultrasonic C&I water meter from Sensus, a Xylem brand, which features a patented technology that measures low-to-high-volume flow with proven accuracy. The unique flow tube has three measurement channels to capture every drop and seamlessly integrates with the FlexNet®.
In January 2023, Franklin Electric Series VI Pumps will now be packaged as FS Series.

Key Segmentation of Europe Water Pumps Market

By Capacity:

Upto 2HP
2-5 HP
5-10 HP
10-15 HP
15-20 HP
20-30 HP
Above 30 HP

By Product Type:

Centrifugal Pump
Single Stage
Multi-Stage
Axial & Mixed Flow
Submersible
Circulator
Positive Displacement
- Reciprocating
- Rotary

By End Use Sector:

Centrifugal Pump
- Domestic
- Agriculture & Irrigation
- Mining
- Water & Wastewater
- Oil & Gas
- Other Industrial
Positive Displacement
- Oil & Gas
- Chemical
- Water & Wastewater
- Pulp & Paper
- Power
- Other Industrial

By Country:

Germany
Italy
France
The United Kingdom
Spain
BENELUX
Russia
Poland
Rest of Europe

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Surgical Navigation System Market to Hit USD1.700 Million by 2030 with 6.2% CAGR Growth

The global surgical navigation system market is on track for significant expansion, with its value projected to increase from US$ 940 million in 2020 to US$ 1,700 million by 2030, registering a compound annual growth rate (CAGR) of 6.2% over the forecast period. This upward trajectory reflects the growing reliance on precision-based surgical technologies in healthcare facilities worldwide.

Surgical navigation systems play a critical role in enhancing the accuracy and efficiency of complex surgical procedures, including orthopedic, neurosurgery, and ENT (ear, nose, and throat) operations. The growing demand for minimally invasive surgeries and the rising adoption of image-guided surgical techniques are key drivers of market growth. As hospitals and surgical centers seek to improve patient outcomes and reduce procedural risks, the adoption of surgical navigation systems continues to rise.

Technological advancements in augmented reality (AR), robotics, and AI-driven navigation systems are revolutionizing modern surgery. These innovations enable surgeons to visualize critical anatomical structures in real-time, improving precision and reducing the likelihood of surgical errors. The growing preference for robot-assisted surgeries is also contributing to the rise in demand for surgical navigation solutions.

With the expansion of healthcare infrastructure and increased investment in advanced medical devices, the surgical navigation system market is set to witness sustained growth. The shift toward outpatient procedures and same-day surgeries is further expected to fuel the adoption of navigation systems, as they support faster recovery times and reduced hospital stays.

A Detailed Full Report – https://www.futuremarketinsights.com/reports/surgical-navigation-system-market

Key Takeaways:

The global surgical navigation system market is forecasted to grow from US$ 940 million in 2020 to US$ 1,700 million by 2030, reflecting a 6.2% CAGR.
Rising demand for minimally invasive and image-guided surgeries is driving market growth.
Technological advancements in AI, robotics, and augmented reality are enhancing the precision and efficiency of surgical procedures.
Increasing healthcare investments and the growing shift toward outpatient and same-day surgeries are supporting the adoption of surgical navigation systems.

Regional Insights

North America: Expected to dominate the market due to advanced healthcare infrastructure, high adoption rates of new technologies, and a significant number of surgical procedures performed annually.
Asia-Pacific: Anticipated to exhibit the fastest growth rate owing to rising healthcare investments, improving medical facilities, and increasing awareness about advanced surgical technologies.

Challenges

High Costs of Navigation Systems: The initial investment required for surgical navigation systems can be a barrier for some healthcare facilities, particularly in developing regions.
Complexity of Use: The need for specialized training to operate advanced navigation systems may limit their adoption in some settings

Key companies profiled

GE Healthcare Ltd.; Medtronic Inc.; Siemens Healthcare Corporation; Stryker Corporation; B. Braun Melsungen AG; Bausch & Lomb Incorporated; CAScination AG and Brainlab AG.

Key Segments

By Technology:

Electromagnetic Navigation Systems
Hybrid Navigation Systems
Optical Navigation Systems
Fluoroscopy-based Navigation Systems
CT-based Navigation System
Others

By Application:

Neurosurgery
Orthopedic Surgery
ENT surgery
Cardiac surgery
Others

By End Use:

Hospitals and Physician Practices
Ambulatory Surgery

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

Explore FMI’s Related Ongoing Coverage on Healthcare Market Insights Domain:

New Born Eye Imaging Systems Market
Next Generation Infusion Pump Market
Peptide Receptor Radionuclide Therapy (PRRT) Market

Author By:

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

About Future Market Insights (FMI)

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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North America Electrical Testing Services Market Projected to Grow at 6% CAGR and Reach USD 4.5 Billion by 2033

The North America Electrical Testing Services Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the North America Electrical Testing Services market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for North America Electrical Testing Services. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The North America Electrical Testing Services Market is currently witnessing a substantial upswing in demand, predominantly propelled by a heightened emphasis on regulatory compliance and safety protocols within industrial plants and manufacturing facilities. This increased focus is a direct response to the implementation of stringent regulations aimed at averting penalties associated with negligence and non-compliance. Consequently, businesses are increasingly embracing electrical testing services to guarantee that their work environments adhere to industry standards and are free from potential hazards.

Furthermore, the imperative to minimize downtime and uphold uninterrupted operations is escalating, further amplifying the necessity for these indispensable services. Projections indicate that the North America electrical testing services market is on track to achieve a valuation of USD 2.5 billion in 2023, with expectations of reaching USD 4.5 billion by 2033. This trajectory underscores a noteworthy compound annual growth rate (CAGR) of 6% from 2023 to 2033. As industry participants acknowledge the pivotal role of electrical testing services in ensuring compliance and operational continuity, the market is strategically positioned for sustained growth over the ensuing decade.

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Electrical testing services have become essential components in ensuring regulatory compliance, thereby mitigating the risk of penalties associated with negligence, non-compliance, and the creation of hazardous work environments. This has resulted in a significant rise in the global demand for these services, driven by an increasing emphasis on safety within industrial plants and manufacturing units, coupled with a concerted effort to minimize operational downtime.

Projections indicate that the electrical testing services market is poised for substantial growth in the foreseeable future, with several key factors propelling this expansion. These factors include the accelerating pace of railway electrification, advancements in steel production, and a growing focus on systematic equipment testing to proactively address potential breakdowns.

The crucial role played by these services in preventing issues such as short circuits, lubricant leakage, corrosion, and wiring faults has been a driving force behind the expansion of the global electrical testing services market. Manufacturing industries and power generation plants, in particular, are increasingly relying on comprehensive electrical equipment testing, contributing to the market’s upward trajectory.

Furthermore, the increasing investment in the development of electrical infrastructure to ensure accessible and uninterrupted electricity in key regions, including Mexico, the United States, and Canada, is expected to further bolster the demand for electrical testing services. Notably, North America is anticipated to witness a surge in the sales of electrical testing services, driven primarily by the implementation of stringent regulatory frameworks mandating regular inspections of electrical equipment and power distribution lines to prevent potential hazards.Top of Form

Key Takeaways

Canada’s electrical testing services industry is projected to grow with a CAGR of 6.2% during the forecast period.
The demand for electrical testing services in Mexico is expected to grow with a significant CAGR of 6.5% during the forecast period.
By service type, the transformer testing segment is projected to grow with a CAGR of 6.8% during the forecast period.
By end-user, the power generation station segment is projected to grow with a CAGR of 7.1% during the forecast period.

“Increasing investments to develop electrical infrastructure is expected to drive market growth during the forecast period,” comments an FMI analyst.

Competitive Landscape

The North American electrical testing services market is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.

The key industry players are Schneider Electric, Siemens AG, Eaton Corporation plc, General Electric Company, ABB Inc., Power Products & Solutions, American Electrical Testing, Haugland Group LLC, Dekra, TCS Electrical Co., Phase One Electric, Intran, GEM Electrical Services, Electric Power Systems.

Some recent developments in the North American electrical testing services market are:

In June 2023, ABB Inc. declared the acquisition of Munich-based smart home products leader, Eve Systems GmbH, with operations in Europe and the United States.
In June 2023, Siemens Digital Industries Software integrated Supplyframe™ Design-to-Source Intelligence platform with Siemens Xcelerator portfolio enhancing real-time supply chain intelligence for comprehensive digital twin technology.
In August 2021, RESA Power, a U.S.-based electrical solutions provider, announced the acquisition of EPIC Energy Solutions, LLC, an electrical testing company. This acquisition enables RESA Power to enhance its testing capabilities in the Midwest region.
Siemens Mobility acquired Optrail in June 2023 to broaden its Train Planning System capabilities.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global North America electrical testing services market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the North American electrical testing services market, the report is segmented on the basis of end-use (power generation stations, transmission and distribution stations, steel plants, major refineries, railways, other industrial (laboratory, etc.), data centers, healthcare and hospitality, and commercial establishments) and service type (transformer testing, circuit breaker testing, protection testing, battery testing, rotating equipment vibration testing, motors/generator testing, and thermographic testing) across two major countries (United States and Canada).

Key Segments Profiled in the North America Electrical Testing Services Industry Survey

By End Use:

Power Generation Stations
Transmission and Distribution Stations
Steel Plants
Major Refineries
Railways
Other Industrial (Laboratory, etc)
Data Centers
Healthcare and Hospitality
Commercial Establishments

By Service Type:

Transformer Testing
Circuit Breaker Testing
Protection Testing
Battery Testing
Rotating Equipment Vibration Testing
Motors/Generator Testing
Thermographic Testing

By Country:

United States
Canada

Author By:

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

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

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

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Global End Suction Pump Market Set to Achieve USD 6.8 Billion by 2033, Growing at 4.93% CAGR

The End suction pump market to reach a valuation of USD 4.2 billion in 2023. Based on FMI research findings, the market is projected to capture a 4.93% CAGR from 2023 to 2033 and is predicted to value USD 6.8 billion by the end of 2033.

Constructing vertically is witnessing tremendous growth, as it is expected to take the end suction pump market to a new height going forward. It is connected to several industry verticals for transporting the bulk volumes of liquids efficiently and delivering them to an optimal and vigorous head as well as helping in controlling flow rates to fluids.

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Key Takeaways from the Market Study

Sales of the end suction pump market expanded at a CAGR of 3.44% from 2018 to 2022.
Growth rate of the India market for the end suction pump market is likely to expand at a share of 8.9%.
Global end suction pump market registered year-on-year (YoY) growth of 3.5% in 2021
End suction pumps market is estimated to rise at 4.6% CAGR between 2021 and 2031 in comparison to 5.8% CAGR registered from 2016 to 2020.
North America is predicted to remain one of the dominant growing markets during the forecast period with a growth rate at a CAGR of 28.9%.
The United States is expected to be the leading market in North America with a market share of 48.9%.
Latin America is considered to witness a CAGR of 16.9%.
Brazil is said to hold a leading position in this region with a market share of 40.1%.
Germany is considered to be the leading country in Western Europe with a growth rate of 14.2%.
Russia is considered to have the leading market end suction pump manufacturers with a market share of 24.6%
Demand in the China end suction pumps market is expected to rise at nearly 5.1% CAGR over the forecast period.
End suction pump market in India is expanding at a CAGR of 8.9%.
Growth in the construction of buildings in Australia might drive the need for end suction pumps with a CAGR of 7.98%.
Demand for close coupled end suction pumps rising is mostly in demand.
Close coupled pump is the leading category where it has been forecasted to account for nearly 56% of the global market share during the forecast period.
Upto 100 GPM pumps are said to dominate the market.
Upto 100 GPM Pumps are expanding at a CAGR of 5.3%.
Industrial Segment is said to increase the demand of the market.
Industrial segment is expected to hold 58% of the share of the market from 2023 to 2033.

Technological advancements drive the end suction pump market sales act as a driving key in the end suction pump market – Comments a Future Market Insights Analyst.

Important Development of the Key Players in the Market

In December 2022, Xylem Inc introduced Stationary Samplers that can be installed at any measuring point. PB-S guaranteed stable sampling through self-sufficient cooling or heating where it was clear and had a simple operating structure as well as equally easy programming to make the application child’s play. Stationary Samplerhas a huge accuracy with a single sample volume with a vacuum system that is easy to maintain due to the separate division of the control and sample room. Robust stainless steel housing, in the samplers, is particularly resistant and can take any important samples

Top Key Players

Grundfos
Sulzer Ltd.
Xylem Inc.
KSB AG
Flowserve Corporation
Ebara Corporation
Kubota Corporation
Ruhrpumpen Group
Kirloskar Brothers Ltd.
WILO SE
DESMI A/S
Pentair
Torishima Pump Manufacturing Co., Ltd

Key Segmentations

By Type :

Close Coupled Pump
Separately Coupled Pump

By Flow Rate :

Upto 100 GPM
100 to 300 GPM
300 to 500 GPM
500 to 1,300 GPM
1,500 to 5,000 GPM
Above 5,000 GPM

By Application :

Commercial
- Hotels
- Swimming Pool
- Retail Space
- Office & Institution
Industrial
- Food & Beverages
- Chemicals
- Mining & Metals
- Power Generation
- General Manufacturing

By Region :

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

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Myopia and Presbyopia Treatment Market to Surpass USD 40.5 Billion by 2032 with 8.5% CAGR Growth

The global myopia and presbyopia treatment market is set for substantial growth, with a projected market valuation climbing from US$ 17.9 billion in 2022 to US$ 40.5 billion by 2032, reflecting a compound annual growth rate (CAGR) of 8.5% over the forecast period. This surge highlights the growing demand for advanced treatment options for vision correction worldwide.

The rising prevalence of myopia-related vision loss and the increased frequency of distant visual impairments are key factors propelling market growth. The global upsurge in cases of nearsightedness is further driving demand for effective treatment options, as more patients seek corrective solutions to maintain visual acuity.

With a rise in the adoption of advanced treatment technologies and corrective procedures, the market is poised for steady growth. The increasing popularity of solutions such as corrective lenses, laser-assisted surgeries, and pharmaceutical treatments is driving industry expansion. Advances in medical devices and the growing awareness of early intervention for vision correction are likely to bolster market share over the next decade.

The market outlook remains strong as healthcare providers prioritize the development of innovative treatment options and investment in preventative care measures for vision loss. The combination of technological advancements and the global rise in nearsightedness is expected to sustain market growth in the coming years.

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Key Takeaways:

The myopia and presbyopia treatment market is expected to grow from US$ 17.9 billion in 2022 to US$ 40.5 billion by 2032, with an 8.5% CAGR.
Rising cases of myopia-related vision loss and distant visual impairments are key drivers of market growth.
Growing global prevalence of nearsightedness is boosting demand for effective treatment solutions.
Innovations in corrective lenses, laser surgery, and pharmaceutical treatments are driving advancements in vision care and treatment.

Challenges

High Treatment Costs: The cost associated with advanced treatments can be a barrier for many patients, limiting access to necessary care.
Market Competition: The presence of various treatment options can lead to competition among manufacturers, impacting pricing strategies.

Regional Insights

North America: Expected to dominate the market due to high prevalence rates of myopia and presbyopia, along with advanced healthcare infrastructure.
Asia-Pacific: Anticipated to show significant growth driven by increasing urbanization, lifestyle changes, and rising disposable incomes leading to greater demand for vision correction solutions.

Competitive Landscape for the Myopia and Presbyopia Treatment Market

Myopia and presbyopia treatment market participants are concentrating on implementing growth initiatives, such as improvements to current technology, introduction of effective procedures, and consolidations. Myopia and presbyopia market leaders are also planning for investments in R&D to facilitate early diagnosis and create effective and speedy operating approaches to guarantee field uniqueness and solidify their market position.

Major myopia and presbyopia treatment companies like Johnson & Johnson, Essilor, and Zeimer Ophthalmic Systems AG are increasing their partnerships to create cutting-edge methodologies and therapeutic approaches to deliver better and more effective therapy for myopia and presbyopia patients.

Recent Developments in Global Myopia and Presbyopia Treatment Market

For all myopia and presbyopia treatment providers, Essilor introduced a dynamic web app version of the original Essilor Companion in the period of July 2021. This effort delivers an improved in-store digital Essilor marketing strategy while streamlining the digital platform for Essilor’s partner companies for getting better their brand recognition.

Global Myopia and Presbyopia Treatment Market Key Players

Ziemer Ophthalmic Systems AG
NIDEK CO., LTD.
Johnson & Johnson Vision
Essilor Ltd.
Zeiss International
ALCON VISION LLC
Bausch & Lomb Incorporated
Haag-Streit UK
Topcon Corporation

Myopia and Presbyopia Treatment Market by Segmentation

By Myopia Treatment Type:

Corrective
- Prescription Lenses
  - Single
  - Bifocal
  - Trifocal
  - Others
- Contact Lenses
Surgical
Drugs

By Presbyopia Treatment Type:

Prescription Lenses
- Reading Glasses
- Bifocals
- Trifocals
- Progressive Multifocal
- Office Progressives
Contact Lenses
- Bifocal
- Multifocal
- Monovision
- Modified Monovision
Intraocular Lenses
Refractive Surgery

By Region:

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

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

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Cancer Gene Therapy Market to Hit USD 3,142.2 Million by 2034 with a 5.6% of CAGR

The global market for cancer gene therapy is projected to witness substantial growth, with total sales expected to rise from USD 1,822.2 million in 2024 to USD 3,142.2 million by 2034, reflecting a compound annual growth rate (CAGR) of 5.6%. This growth underscores the increasing demand for personalized and targeted treatment solutions in cancer care.

A significant contributor to this growth is the rising adoption of gene therapy as a precision-driven alternative to traditional treatments like chemotherapy and radiation. Unlike conventional methods, which broadly target cancer cells and impact healthy cells, gene therapy directly addresses genetic alterations responsible for cancer development, reducing toxicity and improving patient outcomes. This shift toward more effective, less invasive treatments is driving the sector’s expansion.

One of the key players in this market is oncolytic virotherapy, which generated USD 850.7 million in revenue in 2023. This therapy uses genetically modified viruses to selectively infect and kill cancer cells while sparing healthy tissues, making it a pivotal tool in the gene therapy landscape. The growing use of oncolytic virotherapy highlights the industry’s shift toward next-generation cancer treatments.

Key growth drivers for the cancer gene therapy market include rising investments in personalized medicine, advancements in targeted therapy development, and increasing regulatory approvals for innovative cancer treatments. As more precision-based therapies become available, healthcare providers and patients are expected to prioritize these novel, less toxic treatment options, further propelling market growth.

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Key Takeaways:

The cancer gene therapy market is forecasted to grow from USD 1,822.2 million in 2024 to USD 3,142.2 million by 2034, with a CAGR of 5.6%.
Gene therapy offers a precision-driven alternative to traditional treatments, reducing toxicity and improving patient outcomes.
Oncolytic virotherapy remains a key growth driver, with revenue of USD 850.7 million in 2023.
Demand for personalized medicine and targeted therapies is accelerating industry growth, supported by ongoing innovation and regulatory approvals.

Market Drivers

Increased Demand for Personalized Medicine: The shift towards personalized medicine is driving the adoption of gene therapy as it targets the specific genetic alterations responsible for cancer development, offering a more tailored treatment approach compared to traditional therapies.
Advancements in Targeted Therapies: Recent developments in targeted therapies and drugs have enhanced the effectiveness of cancer treatments, further boosting the market for gene therapy.
Growing Incidence of Cancer: The rising prevalence of cancer cases globally is increasing the need for innovative treatment options like gene therapy.
Oncolytic Virotherapy Growth: In 2023, oncolytic virotherapy generated revenues of USD 850.7 million, highlighting its significance within the cancer gene therapy sector and contributing to overall market growth.
Technological Innovations: Advances in gene editing technologies and delivery mechanisms are improving the efficacy and safety profiles of cancer gene therapies.

Challenges

Regulatory Hurdles: Navigating complex regulatory pathways for approval can delay the introduction of new therapies to the market.
High Development Costs: The costs associated with developing and producing gene therapies can be significant, potentially limiting accessibility for some patients.

Regional Insights

China: Expected to experience the highest CAGR at 9.5% during the forecast period, driven by increasing investments in healthcare and biotechnology.
North America: Anticipated to maintain a significant share of the market due to advanced healthcare infrastructure and a high prevalence of cancer.

Competitive Landscape

Substantial investments in the cancer gene therapy market are increasingly focused on collaboration and expansion to drive growth and strengthen market presence. Companies are prioritizing the acquisition of innovative technologies and products to enhance their offerings, while also pursuing strategic partnerships to expand their global footprint.

Recent Industry Developments in Cancer Gene Therapy Market

In June 2021, Eisai and Bristol Myers Squibb agreed to collaborate on the development and commercialization of Eisai’s ADC, MORAb-202, for advanced solid malignancies.
In June 2021, GSK and iTeos Therapeutics collaborated to develop EOS-448, an anti-TIGIT monoclonal antibody that had previously been approved in phase 1 for advanced solid malignancies.

Key Players of Cancer Gene Therapy Industry

Merck KGaA
Novartis AG
AstraZeneca Plc.
BIOCAD
Crinetics Pharmaceuticals, Inc.
EffRx Pharmaceuticals S.A.
Euroscreen S.A.
Vicore Pharma AB
Amgen
Bristol-Myers Squibb
Cell Genesys Inc.
Adaptimmune Therapeutics plc.
Achieve Life Science Inc.
BioCanCell Ltd.
Genelux Corporation
Advantagene Inc.
GenVec Inc.
GlaxoSmithKline PLC
Amgen Inc.

Key Segments of Cancer Gene Therapy Industry

By Therapy:

In terms of therapy, the industry is divided into gene induced immunotherapy, oncolytic Virotherapy, gene transfer among others.

By Indication:

In terms of indication, the industry is segregated into breast cancer, ovarian cancer, liver cancer, pancreatic cancer, lung cancer, prostate cancer.

By Service Provider:

In terms of service provider, the industry is segregated into hospitals, clinical research laboratory, oncology institutes.

By Region:

Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe and Middle East & Africa have been covered in the report.

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

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Vessel-Sealing Devices Market to Surge to USD 3,896.44 million by 2033 with 9% CAGR Growth

The global vessel-sealing devices market is projected to reach a remarkable valuation of USD 3,896.44 million by 2033, with an estimated compound annual growth rate (CAGR) of 9% during the forecast period. Starting at USD 1,645.90 million in 2023, this growth underscores the expanding demand for advanced surgical technologies across various domains.

The adoption of vessel-sealing devices in laparoscopic surgery, neck surgery, and axillary dissection has proven effective in occluding blood vessels, enhancing procedural efficiency, and reducing complications. Their critical role in improving surgical outcomes is driving the market forward. These devices provide superior results in controlling blood loss, making them a preferred choice among healthcare professionals globally.

Innovative technologies such as advanced bipolar and ultrasonic energy devices have further amplified the safety and efficiency of surgical procedures. These advancements not only optimize operative time but also enhance surgeon confidence. Coupled with FDA approvals for newer devices, the market is poised for significant growth in the coming years, leveraging advancements in healthcare innovation.

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Key market drivers include ongoing product development, increasing demand for minimally invasive surgeries, and the broadening adoption of vessel-sealing devices. Leading industry players, such as Medtronic, have made significant strides, recording sales of US$ 5.4 million in surgical innovations, including advanced energy and visualization tools. The market is primed for dynamic growth as healthcare facilities worldwide prioritize state-of-the-art surgical solutions.

Key Takeaways:

The vessel-sealing devices market is forecasted to reach US$ 3,896.44 million by 2033, growing at a robust 9% CAGR.
Enhanced surgical safety and efficiency from bipolar and ultrasonic energy technologies are driving adoption.
FDA approvals and rising demand for minimally invasive procedures are boosting market expansion.
Industry leader Medtronic highlights strong performance with US$ 5.4 million in sales for surgical innovations.

Market Drivers

Effectiveness in Surgical Procedures: Vessel-sealing devices have demonstrated superior efficacy in occluding blood vessels across various surgical domains, including laparoscopic surgery, neck surgery, and axillary dissection. This effectiveness is expected to drive market demand.
Technological Advancements: The introduction of advanced technologies such as bipolar and ultrasonic energy devices has significantly improved surgical safety and efficiency by reducing blood loss and operative time.
Preference for Minimally Invasive Surgery: There is a growing trend towards minimally invasive surgical techniques, which require effective vessel-sealing solutions to enhance patient outcomes and recovery times.
Increased Surgical Procedures: The rising number of surgical procedures due to accidents, chronic diseases, and an aging population is contributing to the demand for vessel-sealing devices.
Regulatory Approvals and Product Developments: Ongoing FDA approvals for new vessel-sealing devices and continuous product enhancements by manufacturers are facilitating market growth.

Key Players

Medtronic: A leading manufacturer in the vessel-sealing devices market, reporting sales of approximately USD 5.4 million in its surgical innovation portfolio.
Other notable players include Olympus Corporation, B. Braun Melsungen AG, Johnson & Johnson, Erbe Elektromedizin GmbH, and KLS Martin Group.

Regional Insights

North America: Expected to dominate the market due to a strong presence of key players and technologically advanced healthcare facilities.
Europe and Asia-Pacific: Anticipated to show significant growth driven by increasing healthcare investments and rising awareness about advanced surgical technologies.

Challenges

High Costs: The high cost associated with advanced vessel-sealing devices may limit their accessibility in certain healthcare settings.
Market Competition: Intense competition among manufacturers can impact pricing strategies and profit margins.

Competitive Landscape

Key players operating the global vessel-sealing devices market include:

Medtronic PLC
B Braun Melsungen AG
Erbe Medical India Pvt. Ltd
Olympus Corporation
Ethicon US LLC (Johnson & Johnson)
Boston Scientific Corporation
BOWA-electronic GmbH & Co. KG
OmniGuide Holdings Inc.
CONMED Corporation
Bolder Surgical Holdings Inc

Key Developments

Among the key activities undertaken by market players are product launches, expansions, and expansions of their distribution networks, as well as establishing global footprints through subsidiaries and partnerships. Key activities for market players include portfolio diversification, mergers, and acquisitions.

In September 2022, Medtronic plc, a world leader in healthcare technology, reported that its LINQ II Insertable Cardiac Monitor (ICM) system is the first and only ICM to be cleared by the USA Food and Drug Administration (FDA) for use in pediatric patients with abnormal heart rhythms requiring continuous monitoring over the long term.
With an investment of US$ 34 million in Coimbra, Portugal, Olympus increased its global footprint in September 2022.
Enseal X1 Curved Jaw Tissue Sealer was launched in June 2021 by Johnson and Johnson’s Ethicon company. It is used in colorectal, bariatric, gynecological, and thoracic procedures.
A US$ 160 million deal was signed by Hologic Inc. with Bolder Surgical in October 2021 to acquire the developer and manufacturer of energy vessel sealing surgical devices.
The CoolSeal vessel-sealing platform was launched by Bolder Surgical in September 2021. Over 20 countries around the world now have access to CoolSeal, which has been on the market in the USA since October 2020 with updated international regulatory approvals.

Market Segments Covered in Vessel-Sealing Devices Market Analysis

By Application, the Vessel-sealing Devices Market is Segmented as:

General Surgery
Laparoscopic Surgery

By End User, the Vessel-sealing Devices Market is Segmented as:

Hospitals & Specialty Clinics
Ambulatory Surgical Centers

By Region, Vessel-sealing Devices are Segmented as:

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

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

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Transplant Diagnostics Market to Reach USD 8.5 Billion by 2034 at a 6.5% of CAGR

The global transplant diagnostics market is poised for steady growth, with its valuation projected to increase from USD4.5 billion in 2024 to USD8.5 billion by 2034. This reflects a compound annual growth rate (CAGR) of 6.5% over the forecast period. The rising number of organ transplants, coupled with advancements in diagnostic technologies, is driving the growth of this critical healthcare market.

Transplant diagnostics play a pivotal role in improving the success rate of organ transplants by ensuring compatibility between donors and recipients. Advanced diagnostic techniques such as molecular assays and next-generation sequencing (NGS) are revolutionizing transplant procedures by enabling precise and timely assessment of donor-recipient compatibility.

The surge in chronic diseases such as kidney failure, liver diseases, and cardiovascular conditions has led to a significant increase in the demand for organ transplants. As a result, healthcare providers and research institutions are increasingly adopting advanced diagnostic tools to improve transplant outcomes. Additionally, ongoing investments in research and development (R&D) are expected to drive further innovation in transplant diagnostics.

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Key Takeaways

The global transplant diagnostics market is projected to grow at a CAGR of 6.5%, reaching $8.5 billion by 2034.
The rising number of organ transplants, driven by the growing prevalence of chronic diseases, is fueling demand for transplant diagnostics.
Technological advancements, such as next-generation sequencing (NGS) and molecular assays, are enhancing the accuracy, speed, and precision of transplant compatibility assessments.
Increasing investments in research and development (R&D) are driving innovation in transplant diagnostics, creating opportunities for healthcare providers and diagnostic companies.

With the increasing demand for organ transplants and technological innovations in diagnostic tools, the transplant diagnostics market is set for sustained growth. Enhanced compatibility testing methods, supported by R&D investments and advancements in sequencing technology, are expected to significantly improve transplant outcomes, reducing rejection rates and improving patient quality of life.

Market Drivers

Increased Funding for Transplant Research: Enhanced governmental and private funding for research in transplant diagnostics is driving innovation and development in this field.
Focus on Non-Invasive Diagnostics: There is a growing trend towards non-invasive or minimally invasive diagnostic techniques, such as blood-based biomarker assays, which are gaining traction for their ability to reduce the need for invasive procedures.
Rising Incidence of Organ Transplants: The increasing prevalence of chronic diseases necessitating organ transplants is boosting demand for effective transplant diagnostics to ensure compatibility between donors and recipients.
Technological Innovations: Advances in diagnostic technologies, including big data analytics and imaging techniques, are facilitating better decision-making and personalized treatment plans.
Cross-Border Organ Transplants: The rise in cross-border organ transplants emphasizes the need for standardized and efficient transplant diagnostics, further driving market growth.

Regional Insights

North America: Expected to hold a significant market share due to advanced healthcare infrastructure and high adoption rates of transplant diagnostic technologies.
Europe: Anticipated to show strong growth driven by increased healthcare budgets and availability of skilled professionals in the field.
Asia-Pacific: Projected to witness the fastest growth rate, fueled by advancements in healthcare infrastructure and rising disposable incomes, particularly in countries like China and India.

Key Market Trends and Highlights

The rising number of organ transplantation procedures, including kidney, liver, heart, and lung transplants, is expected to drive the demand for transplant diagnostics. The growing prevalence of organ failure and chronic diseases requiring transplantation has been a major factor.

Technological advancements in transplant diagnostics, such as molecular and genetic testing techniques, are expected to enhance the precision and efficiency of compatibility testing. The advancements contribute to better outcomes for transplant patients.
The increasing prevalence of chronic diseases, such as diabetes and kidney disorders, has been a driving factor for the growth of the transplant diagnostics market. The conditions often lead to organ failure, necessitating transplantation.
The growth in the market for immunosuppressive drugs, which are crucial for preventing organ rejection post transplantation, is expected to complement the transplant diagnostics market. The two markets are closely linked, as effective transplant diagnostics help in tailoring immunosuppressive therapies.

Competitive Landscape

The transplant diagnostics market is characterized by a dynamic and competitive landscape, driven by the increasing demand for accurate and advanced diagnostic solutions in the field of organ and tissue transplantation. Key players in the market are engaged in strategic initiatives, research and development, and collaborations to gain a competitive edge.

Recent Development

In 2022, Immucor Inc., a prominent player in transfusion and transplantation diagnostics, unveiled two new additions to its transplant diagnostics portfolio, reaffirming its dedication to pioneering advancements in the realm of histocompatibility.

Key Companies Profiled

Becton Dickinson and Company
Bio-Rad Laboratories Inc.
Illumina Inc.
Immucor Transplant Diagnostics Inc.
Thermo Fisher Scientific Inc.
CareDx
Affymetrix Inc.
Linkage Biosciences
Abbott Laboratories Inc.
BioMérieux S.A.
QIAGEN NV

Segmentation Analysis of the Transplant Diagnostics Market

By Product and Service:

Instruments
Reagents and Consumables

By Screening Type:

Pre Transplant
Post-Transplant

By Organ Type:

Kidney
Liver
Heart
Lung
Pancreas

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
The Middle East and Africa

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Author By:

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

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