Liquid Biopsy Market to Propel with US$ 4,126 Million Revenue by 2032 Attributing to Stringent Government Initiatives Globally

The global Liquid Biopsy Market is expected to generate lucrative growth opportunities during the forecast period, with a total CAGR of 13.49% from 2022 to 2032. The global market is expected to be valued at US$ 1.146 billion in 2022 and to exceed US$ 4.126 billion in 2032. The rising cancer incidence and low treatment rates are driving the growth of the liquid biopsy market.

A liquid biopsy is known to be a non-invasive procedure as compared to surgical biopsies which aid in discovering a tumor with the help of a simple blood sample. Traces of cancer’s DNA in the blood can help in giving clues about which treatments are most likely to work for that patient. Liquid biopsies are commonly used to diagnose non-small cell lung cancer (NSCLC) and screening or a companion diagnostic for numerous other types of cancers such as gastrointestinal, colorectal, breast, prostate, and ovarian cancer.

The Cost-effectiveness and high efficacy of liquid biopsy over several other diagnostic tests are chief factors responsible for market growth. Fast-track approvals from regulatory bodies such as the U.S. Food and Drug Administration (FDA) for non-invasive cancer diagnosis tests will continue creating growth opportunities.

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Key Takeaways

  • For decades, cancer has been constantly affecting humanity and the numbers continue to surge even with the emergence of better treatment and care. According to the reports by the World Health Organization (WHO), In 2020 it reported around 10 million deaths caused due to cancer. This staggering rise in number emphasizes the need for accurate and convenient cancer diagnostic systems for early detection.
  • Governments in several high cancer-burden nations have made a pledge to assist cancer research by offering them adequate funds that can aid in improved outcomes. For instance, as per the National Institute of Health (NIH), the federal government has allocated US$ 119 Mn to National Cancer Institute for the fiscal year 2021.
  • The India-UK Cancer Research Initiative in 2018, focused on improved and affordable approaches to cancer diagnosis and treatment. This initiative received investments valued at £5 Mn from the Department of Biotechnology (DBT), Ministry of Science & Technology, India, and Cancer Research UK (CRUK) each over a 5-year program.
  • The government-led initiatives are expected to further promote cancer specialists all over the world in order to set research goals aimed at affordability, convenience, and optimal patient care in cancer treatments. Adequate funding will allow experts to develop research alliances to enable significant improvements against numerous cancer outcomes.

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Competitive Landscape

Key players in the liquid biopsy market are focusing on strategic collaborations with several end-users including hospitals, diagnostic centers, and cancer research institutes to strengthen their product offerings in the market. As per FMI analysis, tier-1 players will account for approximately 20-25% of the total sales.

Prominent industrial research funding along with product development agreements will offer proprietary benefits to manufacturers, helping them contribute to the development of accurate diagnosis methods for various cancers. In addition, gaining patents and government approvals for new technologies will remain one of the prominent growth strategies.

Key Companies Profiled:

  • BIOCEPT, INC.
  • Qiagen N.V.
  • Trovagene, Inc
  • Janssen Global Services, LLC
  • MDxHealth SA
  • Natera, Inc
  • F. Hoffmann-La Roche Ltd
  • Silicon Biosystems
  • Pathway Genomics Corporation
  • Sysmex Corporation

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More Insights into the Liquid Biopsy Market

According to the FMI analysis, the U.S. is anticipated to account for around 51% of the total market share in the global liquid biopsy market during the projection period. Growth prospects in the U.S. are attributed to surging government funding in order to support cancer research. The rising prevalence of cancer across the U.S. will generate high demand for highly accurate liquid biopsy services. Widespread technological developments including artificial intelligence, machine learning, and microchip-based liquid biopsy diagnostic services will lead to market expansion in the U.S.

The European liquid biopsy market is anticipated to surge significantly throughout the forecast period, attributed to the desirable healthcare policies along with high average per capita healthcare costs, which have produced a favorable climate in the United Kingdom for the adoption of modern cancer diagnostic technology.

The technological developments in the U.K. are expected to offer lucrative growth opportunities for players operating in the market, allowing them to benefit from technological advancements for better products and services. The U.K. will account for 24% of the market share, as estimated by FMI.

According to the FMI market survey, government initiatives in emerging economies like India are aimed at improving cancer awareness, research, and development and are anticipated to propel the growth of the liquid biopsy market in India, as per FMI’s market survey. As revealed by the National Cancer Registry, cancer incidence in men is estimated to reach 736,575 in 2025, with 806,218 cases to be recorded in women.

Key Segments Profiled in the Liquid Biopsy Industry Survey

Liquid Biopsy Market by Marker Type:

  • CTCs (Circulating Tumour Cells)
  • ctNA (Circulating tumor Nucleic Acids)
  • Exosomes

Liquid Biopsy Market by Sample Type:

  • Blood Liquid Biopsy
  • Urine Liquid Biopsy
  • Others (Plasma, Saliva, CSF) Liquid Biopsy

Liquid Biopsy Market by Application Type:

  • Liquid Biopsy for Lung Cancer
  • Liquid Biopsy for Gastrointestinal Cancer
  • Liquid Biopsy for Prostate Cancer
  • Liquid Biopsy for Breast Cancer
  • Liquid Biopsy for Colorectal Cancer
  • Liquid Biopsy for Leukemia

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Rising Pet Ownership will Propel the Companion Animal Specialty Drugs Market to reach US$ 56,828.56 Mn by 2032

The global Companion Animal Specialty Drugs Market is anticipated to reach a valuation of US$ 56,828.56 Mn by 2032, with the market growing at an average CAGR of 4.21% from 2022 to 2032. Currently valued at US$ 37,624.67 Mn, the companion animal specialty drugs market is driven by the growing adoption of pets and the rising focus on animal health. The rise in the number of animal-derived products will further aid the growth of the companion animal specialty drugs market during the forecast period.

In the past few years, there’s been a rise in the number of pet owners as well as a growing awareness regarding the health of pet animals. In addition to this, technological advances in the administration of novel veterinary medicines will likely supplement the growth of the companion animal specialty drugs market through the assessment period. Again, the manufacture and approval of new drugs for the treatment of various animal ailments is stimulating the demand for companion animal specialty drugs. For instance, the growing occurrence of obesity amongst pet dogs and other companion animals contributes to a surge in the sales of anti-obesity drugs.

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Moreover, the significant rise in the number of animal healthcare and NGOs in the past couple of years is one of the major growth drivers of the companion animal specialty drugs market. Also, some pet diseases can even lead to serious effects on humans and need to be mitigated so as to deter infection. All of these factors contribute to the growth of the target market during the forecast period.

“Surge in the introduction of new veterinary medicines, rise in the number of pet owners, and growing awareness of animal health are furling the global growth of the companion animal specialty drugs market over the forecast period,” says an FMI analyst.  

Key Takeaways:

  • Surging number of animal healthcare centers and NGOs will strengthen the market prospects.
  • The companion animal specialty drugs market in the U.S. will account for 88% of the North American market share.
  • Brazil’s companion animal specialty drugs market will be valued at US$ 426 Mn in 2022.
  • The companion animal specialty drugs market in Germany will expand at a CAGR of 2.4%.
  • Online veterinary pharmacies will grow at a CAGR of 6.8%.
  • The parasiticide drug segment accounted for a market share of 32.2% in
  • By product type, the vaccines segment will reach a value of US$ 2.89 Bn in 2022.
  • By route of administration, the oral segment will account for a value of US$ 2.86 Bn in 2022.

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Competitive Landscape 

Merck Animal Health (Merck & Co., Inc.), Boehringer Ingelheim International GmbH., Elanco Animal Health Incorporated, Virbac S.A., Biogenesis Bago SA, Piramal Group, Zoetis, NEOGEN Corporation., Vetoquinol S.A., and Ceva Santé Animale among others are some of the major players in the companion animal specialty drugs market profiled in the full version of the report.

Leading market players are focusing on developing innovative products with fewer side effects. These organizations are also adopting tactics like product releases, partnerships, collaborations, and other inorganic strategies to expand their consumer base.

More Insights into Companion Animal Specialty Drugs Market Report

In its latest report, FMI offers an unbiased analysis of the global companion animal specialty drugs market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (antibiotics, anti-inflammatory drugs, parasiticides, heartworm, behavioral products, nutritional products, anti-obesity drugs, skin care products, vaccines), distribution channel (modern trade, online distribution, neighborhood stores, other retail formats), and region.

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According to the latest FMI reports, based on segmentation, the vaccines segment is anticipated to dominate the market with a value of about US$ 2.89 Bn in 2022. On the basis of the distribution channel, online veterinary pharmacies will likely account for 37.8% of the market share while expanding at a CAGR of 6.8% during the forecast period.

Based on region, the companion animal specialty drugs market in the United States will likely account for 88% of the revenue share in North America. The growing adoption of pets coupled with many pet owners interested in taking better care of their pets fuels the growth of the companion animal specialty drugs market in this country. Brazil and Germany are two other countries that are expected to register considerable growth in the companion animal specialty drugs market during the forecast period.

Key Segments in the Companion Animal Specialty Drugs Market

By Product:

  • Antibiotics
  • Anti-Inflammatory Drugs
  • Parasiticides
  • Heartworm
  • Behavioral Products
  • Nutritional Products
  • Anti-Obesity Drugs
  • Skin Care Products
  • Vaccines

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By Distribution Channel:

  • Modern Trade
  • Online Distribution
  • Neighborhood Stores
  • Other Retail Format

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

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General Anesthesia Drugs Market

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Autonomous Vehicles Market Share to be worth US$ 99,451 Million by 2032, Get Insights FMI

The global autonomous vehicle market share is expected to reach US$ 99,451 Million by 2032, exhibiting a prolific CAGR of 10.9% for the forecast period of 2022 to 2032. Autonomous vehicle market is anticipated to reach an estimated US$ 35,282.8 Million by the end of 2022.

Key Takeaways:

  • Integration of advancing technologies is likely to foster market growth.
  • Data security concerns may hinder market possibilities over the assessment period.
  • Europe is expected to lead the market with ownership of almost 38% market share.
  • Autonomous vehicle market in North America is the second largest, accounting for 25% market share.
  • By application, the passenger car segment is predicted to record the fastest growth.

The introduction of robo-taxis, ride-sharing and other commercial activities are expected to promote the market prospects for autonomous vehicles over the forecast period,” says an FMI analyst.

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Advancing government funding and investment along with a favorable regulatory framework are fostering a positive market environment for autonomous vehicles over the forecast period.

Autonomous vehicles are self-driving cars that can be controlled by a computer system. These vehicles are yet to be commercialized and include a GPS tracker, lasers, computer vision, and other smart technology that aids it driverless status.

With increasing sustainability drives and changing consumer preferences, more and more people are showing inclination for autonomous vehicles over the conventional ones. This is owing to the benefits associated with autonomous vehicles like fuel efficiency, greater safety, low emissions and many others. Thus, the future market prospects of autonomous vehicles look positive.

The rising adoption of autonomous vehicles is presumably because of the diminished impact on the environment as it carbon emission levels of these vehicles is very low. In addition to this, autonomous vehicles also offer better parking solutions, greater safety which lessens the stress level while driving as well as being fuel efficient. Autonomous vehicles reduce the incidences of road accidents occurring due to human error. Thus, these vehicles are safer than the manually operated ones.

Moreover, the commercialization of autonomous vehicles is expected to generate market opportunities for other industry verticals like electronics, IT, and technology.

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Competitive Landscape

Google LLC, BMW AG, Mercedes-Benz, Tesla Motors, and Audi AG among others are some of the major players in the autonomous vehicle market profiled in the full version of the report.

Major market players are focusing on developing their autonomous driving technology. These organizations are also engaging in strategic partnerships, collaborations, and mergers to maintain a competitive advantage.

Key Segments Covered in the Autonomous Vehicles Industry Analysis

Autonomous Vehicles Market by Level of Automation:

  • Driver Assistance
  • Partial Automation
  • Conditional Automation
  • High Automation
  • Full Automation

Autonomous Vehicles Market by Application:

  • Autonomous Passenger Cars
  • Autonomous Public Transportation
  • Autonomous Industrial Fleet
  • Autonomous Construction
  • Autonomous Agricultural Applications

Autonomous Vehicles Market by Region:

  • North America Autonomous Vehicles Market
  • Latin America Autonomous Vehicles Market
  • Europe Autonomous Vehicles Market
  • East Asia Autonomous Vehicles Market
  • South Asia Autonomous Vehicles Market
  • Oceania Autonomous Vehicles Market
  • Middle East & Africa Autonomous Vehicles Market

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More Insights into the Autonomous Vehicles Market Report

In its latest report, FMI offers an unbiased analysis of the global autonomous vehicle market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on level of automation (driver assistance, partial automation, conditional automation, high automation, full automation), application (autonomous passenger cars, autonomous public transport, autonomous industrial fleet, autonomous construction, autonomous agricultural application) and region.

According to the latest FMI reports, based on region, autonomous vehicle market in Europe is predicted to retain its lead over the forecast period. This region is expected to account for around 38% of market share. The availability of a plethora of market opportunities due to the rapidly advancing technology sector as well as surging investments in research and development activities are accountable for the growth of the market in this region.

The autonomous vehicles market in North America is right behind Europe, accounting for almost 25% of market share. The increasing development in the mobility as a service sector is likely to prompt the market growth in this region. In addition, favorable traffic regulations in the U.S as well as easy adoption of technological advancements in this country further propels regional market growth.

The Asia Pacific’s autonomous vehicles market is also predicted to witness considerable growth in the forecast period. An upsurge in the demand for safe, sustainable and convenient driving experience is the primary factor fueling the regional market growth. Strict road safety regulation in countries like India and China also bode well for the market in this region.

Based on segmentation, by application type, the public transport segment is likely to account for a major portion of the global market share whereas the passenger car segment will register the fastest growth over the forecast period.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Saudi Arabia Pharmaceutical Market is expected to flourish at a CAGR of 9% by 2032

The Saudi Arabia Pharmaceutical Market is expected to be worth US$ 5,209.5 million by the end of 2022, growing at a CAGR of 9.6% during the forecast period (2022–2032). Due to the country’s fast-growing population and significant influx of ex-pats, the pharmaceutical business in Saudi Arabia is anticipated to continue its high growth momentum. Pharmaceuticals supplied under a second brand name in association with regional businesses and distributors and manufactured by a number of international corporations dominate the Saudi pharmaceutical market.

The growth of Saudi Arabia’s pharmaceutical market is predicted to continue to propel over the estimation period owing to the country’s fast-rising population and large intake of expatriates.

The Saudi pharmaceutical business is dominated by branded pharmaceuticals produced by numerous global corporations and sold under a second brand name in collaboration with local firms and distributors.  Pharmaceutical demand is rapidly surging in Saudi Arabia attributed to the increase in the frequency of non-communicable illnesses and better healthcare infrastructure.

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Saudi Arabia imports around 80% of its medications from several other nations, and the country’s market is dominated by several global corporations. Surging lifestyle illnesses and high brand loyalty for multinational medications in Saudi Arabia are likely to bolster pharmaceutical demand throughout the predicted period. In addition to that, surging per capita income, expanding healthcare infrastructure, and increased penetration of health insurance firms in the Kingdom are fueling development in the Saudi pharmaceutical industry. In Saudi Arabia, MNCs dominate the pharmaceuticals market resulting in accounting for the lion’s share of the market.

The Saudi Arabia pharmaceutical market is anticipated to witness phenomenal growth due to rising health consciousness and increased healthcare spending is projected to bolster market expansion in the upcoming years. Macroeconomic reasons such as increased health insurance company penetration and healthcare reforms such as permitting 100% FDI in the pharmaceuticals industry are also expected to fuel market expansion. Several other significant developments in the marking include the fast-expanding number of religious visitors and the growing number of ex-pats in the nation. Saudi Arabia is known as the largest market in the GCC area that offers superior investment options for investors, which are driven by mandated insurance for ex-pats in the nation. These aforementioned factors are responsible for growth in the Saudi Arabia pharmaceutical market across the forecast period.

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Key Takeaways

  • Saudi Arabia’s government and other multinational organizations are meticulously working towards improving their healthcare sector which is one of the key drivers to boost the growth of the Saudi Arabia pharmaceutical market throughout the forecast period. The Saudi Arabian General Investment Authority (SAGIA) and the British pharmaceutical company GlaxoSmithKline inked a manufacturing localization agreement in July 2019, (GSK). This is projected to help the latter accelerate its production capacity by 2022, producing a variety of Saudi-related employment.
  • The dominant businesses actively participating in the Saudi Arabia pharmaceutical market are focusing on effective business tactics such as drug development collaborations and partnerships, R&D activities, and regional expansions, which are projected to enhance the Saudi Arabia pharmaceutical market growth.
  • Owing to the rising prevalence of diabetes and cancer in both males and females among the Arab population is predicted to bolster the Saudi Arabia pharmaceuticals market throughout the forecast period. As per the projections of the World Health Organization (WHO), Saudi Arabia comprises the second-largest diabetes prevalence rate in the Middle East region and the seventh-highest diabetes prevalence rate in the world. It is analyzed that around 7 million individuals are diabetic, with an additional 3 million having pre-diabetes.

Competitive Landscape

Dominant market players are focusing on innovations that are driving the most recent advances in Saudi Arabia’s pharmaceutical sector. The country has managed to become one of the world’s top-rising economies on the basis of entrepreneurship and business.

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Key Companies Profiled:

  • SPIMACO
  • Tabuk Pharmaceuticals Manufacturing Co.
  • Julphar
  • Jamjoom Pharma
  • GlaxoSmithKline plc
  • Pfizer Inc.
  • Novartis AG
  • Sanofi

Key Segments Covered in the Saudi Arabia Pharmaceutical Industry Analysis

Saudi Arabia Pharmaceutical Market by Product Type:

  • Prescription Products
    • Branded Drugs
    • Generic Drugs
  • Over The Counter (OTC) Products

Saudi Arabia Pharmaceutical Market by Disease Type:

  • Cardiovascular Diseases
  • Diabetes
  • Cancer
  • Obesity
  • Infectious Diseases
  • Other Diseases

Saudi Arabia Pharmaceutical Market by Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Wearable Medical Devices Market is anticipated to reach a valuation of US$ 73.48 Billion by 2032 | FMI Study

Wearable Medical Devices Market is predicted to reach US$ 73.48 billion in 2032, growing at a 28.1% CAGR. The wearable medical device market is anticipated to rise as a result of a growing population and an increase in chronic diseases. As a result of regulatory initiatives, the expansion of the healthcare industry, and an increase in the number of patients, businesses in the healthcare sector and product approvals have developed quickly.

A patient’s most likely diagnosis and treatments can be identified using 5G and AI. AI can also help healthcare providers predict which patients are anticipated to have complications after surgery to perform preventative actions. Learning in real-time with large amounts of data typically necessitates networks with high availability and high throughput.

With the advent of 5G networks, healthcare providers can use AI applications to provide immediate, high-quality care to patients worldwide. Therefore, cutting-edge advancements such as artificial intelligence and fifth-generation wireless networks are expected to impact wearable medical devices significantly.

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The wearable medical devices market is expanding. Individuals that typically purchase such items are those who are open to new experiences and ideas. The increasing number of early adopters and innovators in both developed and developing nations is anticipated to boost sales of wearable medical devices. The increasing demand for novel health monitoring techniques among athletes and fitness buffs is anticipated to propel the worldwide wearable medical devices market. An appreciable fraction of persons in the US and Canada are early adopters. So, the demand for wearable medical devices in North America is anticipated to expand at a higher rate.

Therapeutics, monitoring and diagnostics, foetal and obstetric monitoring, cardiovascular monitoring, and glucose monitoring are just a few of the many uses for wearable medical devices. In this category, therapeutic medical gadgets patients can wear are expected to dominate.

The FMI analysis predicts that by 2025, the market share of therapeutic medical devices that can be worn would exceed 50%. Among the many lifestyle-related conditions, lung problems, diabetes, and hearing loss contribute to this. During the evaluation phase, we don’t expect this tendency to reverse.

Improvements in both design and technology have boosted sales of wearable medical devices in recent years. However, adoption rates in the business continue to be challenged by several variables. The initial investment and ongoing upkeep of wearable technology might be costly for many people. Among other components, failure in sensors, batteries, and chips often necessitates frequent maintenance and repair, which slows consumer acceptance.

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Additionally, several nations do not supply enough medical wearable reimbursement options for their citizens. Because of this, sales of wearable medical devices are expected to stagnate in developed and developing nations.

Key Takeaways

  • The wearable medical devices market is anticipated to reach a valuation of US$ 324.65 Billion by 2032.
  • North America contributed for 38.1% of global revenue in 2020 because to rising rates of cardiovascular disease, diabetes, and cancer.
  • Market growth is anticipated as a result of the increased use of wearable devices for health management during COVID-19.
  • Rising prevalence of target diseases due to an ageing population and the need to minimise healthcare spending are driving the wearable medical device market.

Competitive Landscape

Although the wearable medical devices market is somewhat concentrated, a handful of industry giants control most sales. These businesses invest heavily in research and development of new items, followed by careful timing in releasing such products to the market.

Companies that now dominate the wearable medical devices market are focusing on diversifying their growth strategies, such as forging strategic partnerships, merging with other businesses, and expanding their product lines.

Recent Developments

  • In April 2021, Alvalux Medical, a Belgian MedTech wearables manufacturer, announced that it had been granted a second patent by the United States Patent and Trademark Office for its new ocular insert device, which is intended to allow patients to treat retinal disorders at home through photo-biomodulation (PBM) therapy.
  • As an additional comfort measure, 3M has announced the creation of a novel silicone adhesive material with conformable and breathable properties that is expected to be used in wearable medical devices with the goal of reducing the amount of skin that must be removed.
  • In March of 2021, EOFlow, a provider of wearable drug delivery solutions, announced the release of a new smartphone application designed to be used in tandem with wearable insulin delivery devices.

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Wearable Medical Devices Market By Segmentation

By Product:

  • Wearable Monitoring and Diagnostic Devices
  • Fetal and Obstetric Devices
    • Wearable Fetal Monitors
    • Infant Motion Sensing Monitors
  • Continuous Glucose Monitoring Devices
  • Cardiac Monitoring Devices
    • Wearable Heart Rate Monitors
    • Wearable Pulse Oximeters
    • Wearable Blood Pressure Monitors
  • Wearable Therapeutic Medical Device
  • Hearing Aid
  • Insulin Pump
  • Respiratory Therapy Devices
    • Sleep Apnea Devices
    • Non-invasive Ventilation
  • Health and Fitness Devices

By Application:

  • Patient Monitoring
  • Home Healthcare
  • Health and Fitness

By Distribution Channel:

  • Hospital Pharmacies
  • Clinics
  • Online Channels
  • Hypermarkets

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Laboratory Information Systems (LIS) Market is expected to reach a valuation of US$ 4.2 Million by 2032 | FMI

The global Laboratory Information Systems (LIS) Market is expected to be worth US$ 1.8 billion by 2021. Sales are expected to increase at a 10.2% CAGR, bringing the market size to US$ 1.9 billion by 2022.

Sales are expected to grow at a healthy 10.2% CAGR over the assessment period, thanks to the aforementioned factors. Between 2022 and 2032, the overall demand for Laboratory Information Systems is expected to grow at a CAGR of 10.2%, totaling around US$ 4.2 million by 2032.

Massive technical improvements in the healthcare sector over time have included automation, big data analytics, and cloud computing. The necessity to balance administrative and caring activities is the most crucial feature of the sector. Thanks to the development of sophisticated laboratory testing technologies, this is now achievable.

Laboratories are the foundational stone for primary healthcare administration. It is the laboratories which are the site for drug development and API formulations. To accelerate the effectiveness of these functions, there is a need to streamline mundane operations such as data collation, assimilation, and record maintenance.

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The need for systematic data documentation to reduce paperwork is primarily driving the laboratory information systems market. Significant adoption has been witnessed since the COVID-19 pandemic’s onset, enabling healthcare providers to concentrate on drug and vaccine development by smoothening data collection procedures.

Key Findings

  • Europe & North America will remain lucrative, accounting for 4/5th of the revenue pie
  • Cloud-based laboratory information systems to register maximum increase during the forecast period
  • Vendors are increasingly capitalizing on developing LIS software for various healthcare verticals
  • Hospital-grade laboratory information systems are gaining significant momentum

“Manufacturers are increasing their presence across emerging markets and forging effective distribution networks with regional players. This is helping them expand their outreach and broaden their customer base,” opines the FMI analyst.

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Competitive Intelligence

The global laboratory information systems market is highly fragmented, characterized by the presence of over 50 vendors. Prominent players include: Cerner Corp., Evident, McKesson, Medical Information Technology (MEDITECH), Epic Systems Corporation, SCC Soft Computer, Roper Technologies Inc., CompuGroup Medical and LabWare.

With regard to product launches, Cerner Corporation launched CommunityWorks Foundations, a tailor-made cloud-based technology platform for rural and critical access hospitals in July 2020. This technology shall prove instrumental in reducing overhead costs and reducing lengthy implementation procedures. The platform enables hospitals to maintain electronic health records, reducing immense amount of paperwork.

Recently, in August 2020, Medical Information Technology (MEDITECH) partnered with TECHNATION Health in Canada. This collaboration is aimed at enhancing the privacy and security framework of healthcare providers across the nation, ensuring better patient data security. The solution involves the provision of cybersecurity and data sovereignty among other objectives.

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Key Segments Covered in the Laboratory Information Systems Industry Analysis

By Components:

  • Software
  • Hardware
  • Services

By Delivery Mode:

  • On Premise
  • Cloud-Based

By End User:

  • Hospitals
  • Clinics
  • Independent Laboratories
  • Others

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Demand for recombinant vaccines is likely to grow at a CAGR of 8.75% through 2032 | FMI

A new Future Market Insights study on the global recombinant vaccines landscape highlights the optimistic revenue growth potential in developing regional markets such as Asia Pacific and Japan. The FMI report also offers an extensive analysis of the current competition scenario – emphasizing exclusive insights drawn by exhaustive primary and secondary market research.

Relatively safer and affordable, recombinant vaccines are gaining ground worldwide. With growing focus on preventive healthcare, vaccines are gathering momentum at a global level, including developing economies that still continue to struggle with severe demand-supply gap leading to a considerable shortfall in the availability of vaccines. However, a number of leading non-profit organizations are constantly initiating funding collaborations for improved accessibility of critical vaccines across developing countries.

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Key Dynamics Analysis Evaluates the Role of Collaborative Activities and R&D

On the backdrop of how Sanofi’s acquisition of protein Sciences in 2017 has been boosting the former’s Flubok (recombinant vaccines for flu) manufacturing capacity, several players in recombinant vaccines space are strategizing mutual alliances in coming years. Strategic collaborations between leading players in the recombinant vaccines space is likely to provide a strong impetus to the overall market growth.

Moreover, according to WHO, growing prevalence of rare disease instances such as Ebola, Crimean Congo, MERS, hemorrhagic fever, Marburg, Lassa Fever, Nipah, SARS coronavirus diseases, and Rift Valley Fever is attracting R&D interests of recombinant vaccines manufacturers, thereby pushing growth of the market in the near future

FMI Study Positions Western Europe as Growth Engine of Recombinant Vaccines Landscape

Western Europe currently represents just-under 1/3rd share of the global market revenue, attributed to growing government support for vaccine development and vaccination campaigns. Strong presence of key market players in this region and their increasing investments in R&D of recombinant vaccines further accentuate Western Europe’s top performing spot.

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The report projects impressive growth prospects for Asia Pacific and Japan in coming years. However, APAC is especially portrayed lucrative owing to dramatically growing healthcare spending and an expanding target population that struggles with highly unmet clinical needs, despite growing consumer awareness about vaccination merits.

Mature regional markets in North America and Europe remain differentiated due to effective presence of leading biopharmaceutical companies that boast of GMP certified sterile manufacturing facilities, contributing significant towards the revenue growth of recombinant vaccines market in these regions.

Segmental Analysis Reveals Neck-on-Neck Competition between Subunit and Attenuated Vaccine Types

  • Based on the recombinant vaccines market assessment by type, subunit recombinant vaccines currently hold the largest value share but are likely to lose a bit of it to attenuated recombinant vaccines. Both the segments collectively cover around 90% share of the total market revenue.
  • Applications of recombinant vaccines in human vaccination continue to reflect maximum attractiveness over veterinary applications. A majority of the total market revenue is contributed by recombinant vaccines for humans, as indicated by the report.
  • Private clinics and dispensaries remain the most preferred channel for vaccines distribution, followed by pharmacies. Hospital pharmacies hold a larger share than retail pharmacies, though latter is poised for promising expansion in coming years.

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Top Two Players Represent a Whopping 80% Market Value Share, Concludes Competition Analysis

According to the FMI study, GlaxoSmithKline plc and Merck & Co., Inc. collectively account for more than 80% revenue share in recombinant vaccines marketplace, keeping the landscape highly consolidated. While the former primarily focuses on strategic collaborations, the latter strategizes new product launches for an expanded market share.

  • GSK’s candidate vaccine launched in 2017 claims to prevent pulmonary TB in HIV negative adult patients.
  • Merck announced the three studies of the first phase of its investigational pneumococcal vaccine, early in 2018.

Competition tracking uncovers a few more important insights that can potentially direct strategy building efforts of competitors in the recombinant vaccines market at a global level.

  • New market entry aspirants are prominently opting for the adoption of mammalian protein expression systems in recombinant vaccines manufacturing that accelerate the entire production process.
  • Established players in recombinant vaccines landscape are prioritizing the development of new variants of existing vaccines.
  • Contractual alliances with non-profit organizations are likely to earn higher profit shares for manufacturing leaders in recombinant vaccines market.

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 9-years.

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Cardiac Ultrasound Systems Market sales will increase at 5% CAGR through 2031

The cardiac ultrasound systems market exhibited year-on-year growth of 5.9% in 2021, backed by introduction of mobile connectivity in handheld wireless cardiac ultrasound systems and growing preference for real-time imaging solutions among patients. Future Market Insights (FMI) states that cardiac ultrasound systems market revenue grew by 6% between 2016 and 2020. It is predicted that sales will increase at a CAGR of 5.0% between 2021 and 2031.

The World Health Organization (WHO) reports that more than 17 million people die from cardiovascular disorders globally each year. Rise in referrals to cardiologists due to complications and rapid technological advancements to make the existing cardiac ultrasound devices more compact and user-friendly will positively influence the market growth throughout the forecast period.

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Growing preference for connected ultrasound systems for real-time diagnosis among patients marks a recent milestone, shaping the performance of cardiac ultrasound systems landscape.

The global cardiac ultrasound systems landscape is slated for positive growth prospects in the near future due to increasing efforts to develop stronger distribution channel and manufacturers switching to emerging countries to attain high return of investments.

Surge in number of specializations in imaging and radiological technology along with dramatically growing number of independent imaging centers will provide impetus to revenue growth in upcoming years.

Portable cardiac ultrasound systems are expected to exhibit remarkable market penetration in recent years, due to growing popularity of bedside ultrasonography among people.

Lack of favorable reimbursement and insurance policies along with high cost of equipment are impeding the sales of cardiac ultrasound systems, especially in developing economies.

Lack of adequate grants from government and requirement of high capital investments for installation of modern cardiac ultrasound systems will further hinder the market growth.

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Key Takeaways from FMI’s Cardiac ultrasound systems Market Study

  • North America cardiac ultrasound systems market will exhibit steady growth at 4.70% CAGR through 2031, driven by increasing demand for portable and attractive cardiac devices among cardiologists in U.S. and Canada.
  • European cardiac ultrasound systems market led by Germany, France, and Italy is forecast to grow at 5.30% CAGR during the forecast period. Rise in growth can be attributed to increasing government spending on healthcare and presence of top manufacturers in the region.
  • Increasing cases of cardiovascular and lifestyle diseases in India will drive the demand for cardiac ultrasound systems in the country.
  • In 2021, Japan and South Korea are estimated to account for 20% and less than 4% share respectively of the Asia Pacific cardiac ultrasound system market. Rising geriatric population and increasing popularity of online sales are key growth drivers in these countries.
  • By product type, hand-held ultrasound systems sales are projected to surpass the market valuation of US$ 2,300 Mn at a CAGR of 6.5% in 2021. Integration of 4D imaging technology and internet of things (IoT) will drive the market growth of this segment.

Who is Winning?

Future Market Insights presents analysis on the key trends affecting the cardiac ultrasound systems market and discusses the strategies adopted by market players to strengthen their position. It estimated that the cardiac ultrasound systems market is dominated by GE Company, Fujifilm, Holdings Corporation, Siemens AG, Koninklijke Philips N.V., Toshiba Medical System Corp., Hitachi Medical Corp., and Esaote SpA as they hold majority of market share in 2021.

Leading market players are focusing on strategic merger, acquisitions, and partnerships to expand their product portfolio. Smaller players are concentrating on strengthening their value chain to gain significant market share, says FMI.

In order to cater growing the patient pool with cardiovascular diseases and high demand for non invasive diagnostics, manufacturers are focusing on new product development.

In 2020, Siemens Healthineers India launched new ACUSON redwood ultrasound system at Gandhinagar. This advanced system precisely detects lesions and characteristics. It is installed with artificial intelligence (AI) powered tools to reduce the exam burden and improve efficiency.

In 2018, Philips introduced new cardiac ultrasound solutions “EPIQ CVx” equipped with anatomical intelligence which offers customized applications for diagnostic, pediatric and interventional echocardiography. EPIQ CVx has faster data processing, high quality imaging, and automated quantification and tailored exam tools developed to assist cardiologists in delivering better care.

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Prominent players operating in the cardiac ultrasound systems market are:-

  • Hitachi, Ltd.
  • Analogic Corporation
  • Toshiba Corporation
  • Esaote SpA
  • Samsung Medison Co. Ltd
  • FUJIFILM Holdings Corporation
  • Mindray Medical International Ltd.
  • GE Healthcare

More Insights on the Cardiac ultrasound systems Market

In its latest report, FMI offers an unbiased analysis of the global cardiac ultrasound systems market, providing historical data for the period of 2018-2028 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of by product type (cart/trolley cardiac ultrasound devices and compact/handheld ultrasound scanners), by end use (hospitals and clinics, diagnostic imaging & surgical centers, ambulatory surgical centers, and others), and by region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa)

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:
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Texturized Vegetable Protein Market Overview on Business Prospects, Varieties & Region Outlook by 2031

The rising awareness among consumers about a multitude of health benefits of plant-based sources of protein has been aiding the market for texturized vegetable protein. Future Market Insights (FMI) in a new study has forecast the market to reach US$ 1.03 Bn by the end of 2022. Growth forecasts continue to remain positive for the market, thanks to increasing number of vegetarian population worldwide.

Continuously increasing demand for food & beverage products which provide nutritional benefits with sensory taste is one of the major factor driving the demand for texturized vegetable protein. Due to increasing awareness regarding animal cruelty and environmental damages caused by excessive consumption of might the demand for texturized vegetable protein is expected to increase.

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These protein sources also contain lower amount of saturated fat and cholesterol as compared to meat products hence are considered to have more health benefits. Among products available, the demand for soy protein is expected to be the highest. As per FMI, the soy protein segment is forecast to account for over 80% of the market through 2031.

Key Takeaways from the Texturized Vegetable Protein Market Study

The North American texturized vegetable protein market leads in terms of market size and accounts for 30.1% of the global texturized vegetable protein market in 2021. The Soy Protein texturized vegetable protein market is expected to have a market share of 70.0% of the global texturized vegetable protein market in 2031. In the nature segment, Conventional holds 97.9 % of the texturized vegetable protein market.

In the end-user segment, Industry holds the maximum market share of 76.1% in 2021 of texturized vegetable protein market where Meat Analogues holds 42.8% globally in 2021. Soy protein has a major share by product type and is anticipated to grow significantly over the forecast period. North America have a large number of companies and thus, majority of companies are emphasizing on offering non-GMO products, which are processed through extrusion-based technology, with enhanced functional properties so that their product can comply with strict requirements of clean label products.

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“Benefits of opting vegan proteins are now gaining popularity due to which many big companies are investing in the production and innovation of texturized vegetable protein. Several manufacturers are acquiring or merging with key companies to expand their product portfolio and increase their market share. E-commerce and online stores are easing entry barriers and distribution costs. These factors are expected to make competition fiercer within the market” said a lead analyst at FMI

Who is Winning?

The global population is increasing at a rapid rate and it is expected that the population will be around 9.5 Bn by 2050 from 7 Bn in 2017. The situation is set to put quite a strain on the food and supply of raw material, resulting in the need for alternate protein sources. Key players operating in the market are adopting various strategies, which include expansion of production capacity and launch of various products.

A few of the leading players operating in the texturized vegetable protein market are Archer Daniels Midland Company, CHS Inc., Roquette Frères, Beneo GmbH, Danisco A/S, Vestkron A/S, Cargill Inc., FUJI OIL CO., LTD., Puris Proteins, LLC., MGP Ingredients, Inc., Crown Soya Protein Group, Sotexpro SA, Wilmar International Ltd., Gushen Biotechnology Group Co., Ltd., Ingredion Inc.

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Texturized Vegetable Protein Market Key Segments

Product Type

  • Soy Protein
  • Wheat Protein
  • Pea Protein
  • Rice Protein

Nature

  • Organic
  • Conventional

Form

  • Chunks
  • Slice
  • Flakes
  • Granules

End Users

  • Household
  • Commercial
  • Industry
    • Food Industry
      • Bakery
      • Snacks
      • Ready Meals
      • Sports Nutrition
      • Clinical Nutrition
      • Baby Food
      • Meat Analogues
      • Others
    • Animal Feed

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Distribution Channel

  • Direct
  • Indirect
    • Store Based
    • Hypermarket
    • Convenience St.
    • Traditional Store
    • Online Retails

Region

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

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 9 years.

Contact Us:
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Micronized Salt Market Analysis on Key Growth & Business Prospects, Consumer insights & Future Scope by 2032

Micronized salt market size was estimated at USD 2,671.4 Mn in 2022 and expected to reach USD 3,804.8 Mn in 2032, at a CAGR 3.6%.

Micronized salt’s growing appeal in the processed food industry is due to its consistency and purity. Micronized salt, regarded as an ideal taste enhancer, enhances the shelf life of vegetables and meat in addition to processed foods. The widespread usage of micronized salt in end-use applications such milk and dairy products, bakery and confectionery products, and drinks is likely to propel the worldwide micronized salt market to stable growth.

Future Market Insights (FMI) projects that in terms of value, the global micronized salt market revenue will expand at a CAGR of 3.6% during the forecast period. In terms of revenue, the global micronized salt market accounted for US$ 2,319.0 Mn in 2022 and is anticipated to increase to reach US$ 3,305.8 Mn by 2032. A detailed competition assessment and revenue forecasts for a period of 10 years from 2022 to 2032 are elaborated with respect to each segment and sub-segment of the global micronized salt market.

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The micronized salt market is segmented based on grade and application. By grade, the micronized salt market is segmented into purity 98% – 99.5% and purity above 99.5%. Among both of these segments, purity above 99.5% is expected to dominate in the global micronized salt market both in terms of value and volume during the forecast period. By application, the micronized salt market is segmented into bakery & confectionery products, meat, poultry & seafood, milk & dairy products, beverages, canned/preserved fruits & vegetables, prepared meals and others. Among all these segments, bakery & confectionery products is expected to account for the largest value share followed by the meat, poultry & seafood segment by 2028 end.

Key Segments Covered

By Grade:

  • Purity 98% – 99.5%
  • Purity Above 99.5%

By Application:

  • Bakery & Confectionery Products
  • Meat, Poultry & Sea Foods
  • Milk & Dairy Products
  • Beverages
  • Canned/Preserved Fruits & Vegetables
  • Prepared Meals
  • Other Applications

However, the advent of salt substitutes, high costs of micronized salt, and abundance of alternatives such as high purity solar salt are posing challenges to the growth of the global micronized salt market.

Detailed profiles of some of the companies operating in the micronized salt market are included in the scope of the micronized salt market report to evaluate their long-term and short-term strategies, key offerings and recent developments in the micronized salt market.

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Micronized salt manufacturers include:

  • K+S Aktiengesellschaft
  • Ciech S.A.
  • Tata Chemicals Ltd.
  • AkzoNobel N.V.
  • INEOS Group Limited, Dominion Salt Limited
  • ACI Limited
  • WA Salt Group
  • Cerebos Ltd, Infosa
  • Nirma Limited
  • Zoutman NV
  • BGR International Ltd.
  • China Salt Jintan Co. Ltd.

Key Questions Answered by the Report

What is the size of the micronized salt market?

The micronized salt market is expected to hit a US$ 3.3 billion value by 2032. The growth rate for the micronized salt market is estimated at 3.6% CAGR between 2022 and 2032.

Which are the largest markets for micronized salt?

North America and Western Europe remain the dominant markets for micronized salts. Expansion of food and beverage processing activities in these regions are major influencers.

Which are the top companies in micronized salt market?

Suedwestdeutsche Salzwerke AG, K+S Aktiengesellschaft, Australian Saltworks, Ciech S.A., China Salt Jintan Co., Ltd., and Tata Chemicals Ltd. are among the leading market players in the global micronized salts market.

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What are the uses of micronized salt?

Micronized salts are primarily used as a preservative and flavouring agent in the food and beverage industry, for longer shelf life, supported by high consistency and purity.

In which grades are micronized salt available?

Manufacturers produce micronized salts in two forms – 98 to 99.5% purity and above 99.5% purity. The demand and production of above 99.5% purity micronized salts is greater, aided by applications in processed food and beverage formulations.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:
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