FMI Study Projects Global Power Plant Boiler Market Size to Reach USD 40 Billion Mark by 2034, Growing Steadily at 5.80% CAGR

The global power plant boiler market value is expected to rise from USD 22.7 Billion in 2024 to USD 40 Billion by 2034. This estimated growth is expected to be driven by a promising CAGR of 5.80% in the power plant boiler industry over the next decade.

Governments around the world are investing in upgrading their present power plants. This, along with the increasing construction of new power plants, is raising the demand for power plant boilers. Furthermore, advancements in technology, such as the advent of supercritical boilers, are positively impacting the power plant boiler market.

Increasing projects to raise power capacity is augmenting the investments in power plant boilers. Additionally, upgrades in terms of efficiency and reductions in carbon emissions are driving innovations in the market. Rising investment projects in the industrial world also offer adequate business growth opportunities.

Key Takeaways from the Power Plant Boiler Market Report:

  • In 2023, the power plant boiler market attained a valuation of USD 21.3 Billion by exhibiting a CAGR of 7.5% from 2019 to 2023.
  • By technology, the subcritical segment is anticipated to record a CAGR of 5.5% over the forecast period.
  • Based on fuel type, coal segment is projected to record a 5.3% CAGR through 2034.
  • The United States holds a massive share in the power plant boiler market. By 2034, the country’s market is estimated to acquire USD 7.2 Billion, expanding at a 6.1% CAGR.
  • China ranks second in terms of market value. By 2034, this market is projected to attain USD 6.7 Billion. China is also anticipated to experience a slightly higher 6.8% CAGR.

“Players are focusing on bringing advancements in their boiler production and boiler design to meet the evolving user demands,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Market Strategies Employed by Players to Get Ahead in the Power Plant Boiler Market:

The power plant boiler market is fairly competitive. Key players are exploring opportunities in niche markets, such as small-scale modular reactors, combined heat and power (CHP) systems, and industrial applications for steam generation. Further, players are providing comprehensive lifecycle management solutions to attract end users. By developing strong after-sales support, the market players can increase their sales.

Industry players further enhance their reach by joining partnerships and participating in exhibitions and industry events. Companies are also prioritizing technologies that comply with stricter environmental regulations and reduce emissions. Additionally, players can build goodwill and brand reputation by engaging in corporate social responsibility initiatives.

Key Companies in the Power Plant Boiler Market:

  • General Electric
  • Babcock & Wilcox Enterprise
  • Mitsubishi Hitachi Power Systems
  • Siemens AG
  • Doosan Heavy Industries & Construction
  • Dongfang Electric Corporation
  • IHI Corporation
  • Andritz Group
  • John Wood Group
  • Bharat Heavy Electrical Limited
  • Thermax
  • Sumitomo Heavy Industries
  • Others

New Developments in the Power Plant Boiler Market:

  • In October 2023, Babcock & Wilcox Enterprises, Inc. announced that its Canadian subsidiary, Babcock & Wilcox Canada Corp., has signed a multi-year maintenance contract with Newfoundland and Labrador Hydro to develop the Holyrood Thermal Generating Station in Newfoundland. The deal is worth USD 11 Million and enables consumers to take on more work.
  • In October 2023, Renova Inc., a Japanese renewable power producer, postponed the commercial operation of two biomass-fired power stations with a combined capacity of 150 MW. The 74.8-MW Tokushima Tsuda and 75-MW Ishinomaki Hibarino plants went online later in October and December 2023. The business attributed the delay in launch on final changes to turbine and boiler facilities.

Power Plant Boiler Market Segmentation Analysis:

By Technology:

  • Subcritical
  • Supercritical
  • Ultra-supercritical

By Fuel Type:

  • Coal
  • Nuclear
  • Gas
  • Oil

By Capacity:

  • Below 400 MW
  • 400-800 MW
  • Above 800 MW

By Region:

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

Access Report Details for More In-Depth Information!

Author:

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.

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.

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.

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
LinkedIn| Twitter| Blogs | YouTube

FMI Study Reveals Global Protective Glove Market Revenue to Hit USD 40.6 Billion Valuation by 2034, Driving 6.7% CAGR Growth

The global protective glove market size is poised for significant growth, reaching USD 21.2 billion in 2024. The sales of protective gloves are expected to grow at a CAGR of 6.7% from 2024 to 2034. The demand for protective gloves is anticipated to reach a valuation of USD 40.6 billion by 2034.

The primary catalysts advancing the growth of the disposable glove market include the expanding healthcare industry, increased accidents and injuries, a growing awareness of job hazards, and occupational safety and health laws.

Forces Steering Growth in the Protective Glove Market:

  • The adoption of protective gloves has increased across several industries, including manufacturing, chemical processing, construction, and healthcare, due to growing awareness of the significance of workplace safety and employee well-being.
  • Employers are required by strict government and industry-imposed workplace safety standards and regulations to supply the necessary personal protective equipment (PPE), including gloves, to shield employees from potential risks. The demand for protective gloves is fostered by adherence to such regulations.

Growth Avenues in the Protective Glove Industry:

  • For the safety of medical personnel and to prevent the spread of infections, protective gloves are necessary in the healthcare industry, which includes clinics, hospitals, and labs. Manufacturers of protective gloves stand to benefit greatly from the continued need for healthcare services.
  • Protective gloves are necessary to protect employees from workplace hazards in various industries, including manufacturing, construction, automotive, and chemical processing. The demand for specialized, high-quality gloves is rising as industrial activities continue to expand.

 “Growing workplace safety awareness is expected to propel significant expansion in the protective glove market. The increasing focus on employee well-being is reflected in the rising demand across various industries, which fosters expansion in the safety glove market and drives technological innovation,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI)

Key Takeaways:

  • The nitrile segment in the material category is expected to accelerate at a CAGR of 6.6% between 2024 and 2034.
  • In the type category, the reusable segment is predicted to thrive at a CAGR of 6.5% through 2034.
  • The United States safety glove market is anticipated to evolve at a CAGR of 6.9% through 2034.
  • The United Kingdom protective glove market is envisioned to develop at a CAGR of 7.7% from 2024 to 2034.
  • China’s safety glove market is expected to surge at a CAGR of 7.2% through 2034.
  • The South Korean protective glove market is anticipated to grow at a CAGR of 8.0% between 2024 and 2034.
  • The Japan disposable glove market is likely to exhibit a CAGR of 7.4% through 2034.

Competitive Landscape:

Protective glove market players are planning ahead to boost their sales in profitable regions and are implementing a range of penetration techniques. Some strategies in the safety glove market include product launches, alliances, acquisitions, partnerships, and the attraction of local and international distribution networks.

Top Players in the Protective Glove Market:

  • Kossan Rubber Industries Bhd
  • Top Glove Corporation Berhad
  • Ansell group
  • TOWA CORPORATION
  • Hartalega Holdings Berhad

Notable Developments:

  • GIIB Holdings Bhd announced in May 2022 that its first glove production facility had opened. The company disclosed that the new manufacturing facility, established by its subsidiary GIIB Healthcare Products Sdn Bhd with a 51% ownership stake, features five double former glove-dipping production lines capable of producing 1.05 billion units annually.
  • Kimberly-Clark Professional disclosed that Kimtech Opal Nitrile Gloves were introduced in January 2022. According to the company, the newly introduced industrial gloves were designed for strong tactile sensitivity and enhanced comfort during extended wear. The gloves are marketed to have a unique skin-protection feature called Low Derma Technology.

Key Segments Covered in Report:

By Material:

  • Nitrile
  • Latex
  • Neoprene
  • Leather
  • Vinyl
  • Others

By Type:

  • Reusable
  • Disposable

By Application:

  • Chemical
  • Mechanical
  • Biological
  • Thermal
  • Others

By End-use Industry:

  • Healthcare
  • Manufacturing
  • Food & Beverage
  • Oil & Gas
  • Construction
  • Transportation
  • Others

By Region:

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

Access Report Details for More In-Depth Information!

Author:

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.

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.

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.

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
LinkedIn| Twitter| Blogs | YouTube

Biometric-as-a-Service (BaaS) Market is Set to Reach US$ 6.1 Bn in 2022 and is Anticipated to Reach a High of US$ 45.6 Bn at a Stupendous CAGR of 22.4% by year 2032-end | Future Market Insights, Inc.

The global biometric-as-a-service market is expected to bode well over the forecast years as it is projected to register a fast-paced CAGR of 22.4% from 2022 to 2032. The global market is expected to be valued at US$ 6,040.9 million in 2022. The value of the market is anticipated to reach a high of US$ 45,607.6 million by the year 2032. A historical market valuation of US$ 5,002.0 million has been recorded by the experts of Future Market Insights during the base year. The market is predicted to have healthy growth through the projection period.

The surging need for biometric systems across diverse organizations makes sure that the data is safe. Furthermore, the cost-effectiveness of these systems is anticipated to attract organizations toward the adoption of biometrics-as-a-service. There is an industrial requirement regarding the fast-paced and secured registration, which is responsible for the substantial growth of the biometric-as-a-service market. In addition, BaaS systems are making allowance for mobile access control, time recording, and web and workspace management easier for emerging business organizations.

Request a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-261

Furthermore, employee identification can be achieved in the offices with this system and is predicted to stir up the demand for biometric-as-a-service. It is identified to be a secure form of entry of codes like passwords, pins, and locks, over traditional forms and is expected to aggravate the growth of the market through 2032.

A significant surge has been witnessed in the use of digital platforms to make transactions possible and is anticipated to curate lucrative opportunities for the biometric-as-a-service market. The advancement of cloud computing technologies and increased storage capacity of clouds for biometric-as-a-service is flourishing the growth of the market.

Key Takeaways

  • According to the analysis done by the experts at FMI, it has been identified that the unimodal BaaS systems are going to hold a dominant share in the modality type category. This segment is predicted to surpass the market share of multimodal systems with 58% shares, whilst the multimodal system upheld 42.0% market shares in the year 2021. This segment is estimated to register a CAGR of 12.0% during the base year.

  • The growth of the corporate sector is anticipated to deploy unimodal biometric systems for registering the entry and exit of employees in the office. Registering a single mode such as fingerprint or voice recognition is estimated to be more convenient than registering multiple modes for the large populace across diver industry sectors.

  • In addition, the multimodal biometric systems market is predicted to advance at a robust CAGR of 13.3% through the assessment period. They are being highly deployed in smartphones and other technologically advanced devices for multi-factor authentication purposes, which gives an edge over conventional unimodal systems.

  • The fingerprint segment by the scanner type category is predicted to account for the largest market share within the forecast period, surpassing the valuation of voice recognition, palm recognition, iris recognition, and facial recognition. This particular segment is estimated to bolster at a phenomenal pace by registering a CAGR of 14.5% through 2032. The market valuation is estimated to surpass US$ 18.52 Billion by the end of the projection period.

  • The factors contributing to the growth of this segment are non-transferrable in nature as each person has a unique fingerprint that cannot be easily copied. Furthermore, with the risk of duplicated or stolen keys, fingerprint authentications are gaining rapid traction across government sectors and are estimated to propel further through 2032.

Get More Information on this Report @ https://www.futuremarketinsights.com/reports/global-biometrics-services-market

Competitive Landscape

The BaaS market is known to be fragmented and the key players are deploying organic and inorganic growth strategies in order to compete in the market. The leading companies are heavily investing in research and development activities in order to make technological advances in biometric systems for easing the job of the growing corporate sector and advanced security to all the data.

Several North American-based companies have offered AI-based biometric identity and KYC solutions that enable business organizations to effectively protect their users with the help of AI-powered identity solutions developed with the intersection of privacy, cybersecurity, and biometrics. It transforms sensitive data to maximize both its utility and privacy, allowing businesses to adopt biometrics and other anti-fraud initiatives while protecting personal information from hacks and leaks.

More Insights into the Biometric-as-a-Service Market

North America is projected to hold the highest share in the biometric-as-a-service market through the projection period. This region accounted for a 32.9% market share during the base year. The U.S. has emerged as the most lucrative country in the concerned region.

Key Segments in the Biometric-as-a-Service Market

By Modality:

  • Unimodal
  • Multimodal

By Deployment Model:

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

By Scanner Type:

  • Fingerprint recognition
  • Voice Recognition
  • Iris Recognition
  • Palm Recognition
  • Facial Recognition

By Region:

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

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. 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.

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
LinkedIn| Twitter| Blogs | YouTube

FMI Analysis Predicts Global Turboexpander Market Share Forecasted to Surpass USD 2 Billion Mark by 2034, Growing Steadily at 5.4% CAGR

According to Future Market Insights’ latest industry analysis, the global turboexpanders market size is estimated to be around USD 1.2 billion in 2024. It is projected to exhibit a CAGR growth of 5.40% over the forecast period, with an estimated market size of USD 2 billion by 2034.

The market for turboexpanders has been witnessing significant growth in recent years due to the increased demand for efficient natural gas processing plants, where they play a crucial role in gas processing and liquefaction. Industries are also placing a rising emphasis on optimizing energy usage and minimizing waste, with turboexpanders being used to harness the energy from high-pressure gas streams and convert it into mechanical power or electricity.

The surging demand for cryogenic applications in industries such as healthcare, food processing, and electronics is another factor driving the growth of the turboexpander market. Ongoing advancements in turboexpander design and manufacturing are leading to significant improvements in efficiency, reliability, and performance. This is also contributing to the widespread adoption of turboexpanders across various industries.

The oil and gas sector is increasingly adopting turboexpanders, especially companies involved in natural gas processing plants, LNG facilities, and oil refineries for gas processing, gas liquefaction, and hydrocarbon recovery processes. The sales of turboexpanders are also growing among chemical plants, where companies use them for cryogenic applications such as the separation and purification of gases, as well as for energy recovery from high-pressure gas streams.

“Companies in the turboexpander market must explore opportunities to expand their presence in both established and emerging markets. They can also establish partnerships, open new service centers, or acquire local businesses to better serve customers worldwide,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Key Takeaways from the Market Study:

  • The axial flow segment is poised to dominate the turboexpander industry with a market CAGR of 5.10%.
  • Based on the loading device, the compressors segment is set to lead the turboexpander industry with a CAGR of 4.80%.
  • The turboexpander industry in the United Kingdom is anticipated to develop at a modest CAGR of 6.90% through 2034.
  • The turboexpander market in China is estimated to rise at a CAGR of 6.40% through 2034.
  • The turboexpander industry in Japan has the potential to increase at a CAGR of 4.00% through 2034.
  • The United States turboexpander industry is predicted to rise by a CAGR of 5.80% through 2034.
  • The turboexpander industry in South Korea is very likely to develop at a CAGR of 7.40% through 2034.

Competitive Landscape of the Turboexpander Market:

Turboexpander technology has been gaining popularity in recent years due to its numerous benefits, including energy savings, reduced carbon footprint, and improved production efficiency. The market has a wide range of companies that cater to both international and domestic consumers. Prominent players such as Atlas Copco, Cryostar, Air Products and Chemicals, Inc., Baker Hughes, and General Electric invest heavily in research and development to enhance their products’ efficiency, functionality, and sustainability. These companies often receive grants and subsidies from the government to promote the adoption of turboexpander technology in various industries.

Key Companies in the Market:

  • Atlas Copco
  • Cryostar
  • Air Products and Chemicals, Inc.
  • Baker Hughes
  • General Electric
  • Siemens
  • Elliott Group
  • Turbogaz
  • L.A. Turbine
  • Kobelco
  • Hangyang
  • ACD
  • Cryoquip
  • Cryodynamics
  • GE Oil & Gas
  • Sulzer
  • R&D Dynamics Corporation
  • Howden
  • Toshiba
  • Voith Turbo

Recent Developments in the Turboexpander Market:

  • Breaking the West’s monopoly, Iranian experts and technicians at Shazand Petrochemical Company in Markazi Province domestically designed and produced a turboexpander in May 2023. This achievement, announced by Iran’s Ministry of Petroleum’s Shana news agency, involved collaboration with a local knowledge-based firm, offering significant cost savings.
  • Partnering with Tallgrass and Evolve Energy, Sapphire Technologies shipped its largest batch of turboexpanders yet in June 2023. The delivery of four turboexpanders marked the beginning of a significant milestone, with plans for a 400% production increase by year-end.
  • In August 2023, Nikkiso Clean Energy & Industrial Gases Group’s Cryogenic Service unit, Nikkiso Cryogenic Services (NCS), expanded local support for Nikkiso products like ACD cryogenic pumps and turboexpanders in Brazil by partnering with Neuman & Esser (NEA) Brasil. The aim was to streamline repairs and enhance customer service.

Turboexpander Market by Segmentation:

By Product Type:

  • Axial Flow
  • Radial Flow

By Loading Device:

  • Compressor
  • Generator
  • Hydraulic/Oil-brake

By Power Capacity:

  • Less than 1 MW
  • 1MW – 4 MW
  • 5MW – 9MW
  • 10MW – 19MW
  • 20MW – 24 MW
  • 25 MW – 40 MW
  • Above 40 MW

By Application:

  • Air Separation
  • Oil & Gas Processing
  • Cryogenic Application
  • Others

By End Use:

  • Oil & Gas
  • Energy & Power
  • Chemical & Petrochemicals
  • Others

By Region:

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

Access Report Details for More In-Depth Information!

Author:

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.

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.

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.

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
LinkedIn| Twitter| Blogs | YouTube

FMI Study Indicates Global Industrial Power Supply Market Size to Reach USD 21.5 Billion by 2034, Growing at 10.1% CAGR

The industrial power supply market is estimated to be worth USD 8.2 billion in 2024 and is projected to be valued at USD 21.5 billion in 2034. Between 2024 and 2034, the industry is poised to rise at a CAGR of 10.1%. The growing integration of industrial automation and the implementation of Industry 4.0 initiatives are contributing to a heightened demand for dependable and efficient power supplies. This demand stems from the necessity of providing stable and accurate power delivery to automation systems, encompassing PLCs, robotics, and control systems.

The increasing recognition of the importance of energy conservation and sustainability in industrial settings is fostering a preference for energy-efficient power supplies. Businesses are actively seeking power solutions that not only optimize energy consumption but also contribute to reducing overall operational costs. Global economic growth and the expansion of manufacturing and industrial infrastructure contribute to increased demand for power supplies. As industries expand, there is a need for reliable and scalable power solutions to support new facilities and equipment.

Continuous technological progress, marked by enhancements in power electronics, digital control, and the integration of intelligent features, propels the evolution of highly efficient and advanced industrial power supplies. To remain competitive in this dynamic market, companies are dedicating resources to research and development initiatives.

Key Takeaways from the Market Study:

  • From 2019 to 2023, the industrial power supply market expanded at a CAGR of 13.2%.
  • Based on the product types, the AC-DC converters segment is expected to rise at a CAGR of 9.8% from 2024 to 2034.
  • The industrial power supply demand in China is predicted to grow at a CAGR of 9.2% through 2034.
  • In the United States, the industrial power supply industry is estimated to register a CAGR of 10.4% from 2024 to 2034.
  • The United Kingdom is projected to expand by a value CAGR of 10.8% between 2024 and 2034.
  • The industrial power supply market in Japan is anticipated to record a CAGR of 11.5% during 2034.

“The industrial power supply market is experiencing momentum driven by the growth of manufacturing and industrial infrastructure, coupled with a rising demand for energy-efficient solutions in industrial settings.” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Competitive Landscape:

The industrial power supply market players are forming strategic partnerships with other industry players, technology providers, or manufacturers to enhance product portfolios or expand market reach and collaborating with key stakeholders in the supply chain to ensure a seamless and reliable power supply ecosystem.

Leading Manufactures in Industrial Power Supply Market:

  • TDK Lambda
  • Delta Electronics
  • XP Power
  • Siemens
  • Murata Power Solutions
  • Advanced Energy
  • Bel Fuse
  • Cosel
  • MEAN WELL

Recent Developments in Industrial Power Supply Industry:

  • TDK Lambda – a leading global manufacturer of power supplies, TDK Lambda specializes in providing innovative and reliable solutions for various industrial applications.
  • Delta Electronics – is a multinational company known for its power and thermal management solutions, offering a wide range of industrial power supply products.
  • XP Power – is a well-established provider of power solutions, delivering high-quality and efficient power supplies for industrial applications, including medical, technology, and industrial sectors.

Industrial Power Supply Market Segmentation Analysis:

By Product Types:

  • AC-DC Converters
  • DC-DC Converters

By Output Power:

  • Very Low Output (Up to 500W)
  • Low Output (500W-1,000W)
  • Medium Output (1,000W-10 kW)
  • High Output (10-75kW)
  • Very High Output (75-150kW)

By Vertical:

  • Transportation
  • Semiconductor
  • Military & Aerospace
  • Robotics
  • Test & Measurement
  • Battery Charging & Test
  • Industrial 3D Printing
  • Laser
  • Lighting

By Region:

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

Access Report Details for More In-Depth Information!

Author:

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.

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.

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.

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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Global Commercial Water Heater Market Share Projected to Hit USD 16 Billion Mark by 2034, Growing at 6.9% CAGR

According to Future Market Insights (FMI), the commercial water heater market is estimated to be worth USD 8.2 Billion in 2024 and is projected to be valued at USD 16 Billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 6.9%. Economic growth and increased construction activities, particularly in commercial sectors such as hospitality, healthcare, and manufacturing, drive the demand for water heaters. New commercial buildings, hotels, and industrial facilities require reliable hot water solutions to drive market growth.

Global urbanization trends result in the construction of more commercial spaces, contributing to a heightened demand for water heaters. Urban areas witness increased commercial development, necessitating efficient water heating solutions for various applications. Businesses are placing greater importance on energy efficiency and sustainability. Modern commercial water heaters come with advanced technologies and features that enhance energy efficiency, reduce operational costs, and align with environmentally friendly practices.

The demand for commercial water heaters in various industries, including hospitality, healthcare, education, manufacturing, and food service is expected to propel the market growth. Each industry has specific hot water requirements, driving the need for specialized water heating solutions. The growth of the food service and hospitality sectors, including restaurants, hotels, and catering services, contributes significantly to the demand for commercial water heaters. These establishments rely on hot water for various purposes, such as cooking, cleaning, and guest amenities.

The heightened awareness of hygiene and sanitization, especially in industries like healthcare and food service, has led to a greater demand for hot water. Commercial water heaters play a crucial role in providing the necessary hot water for cleaning and sanitizing purposes. The growth of the global tourism industry contributes to increased demand for commercial water heaters in hotels, resorts, and other accommodations. The hospitality sector, driven by tourism, relies heavily on efficient water heating systems.

Key Takeaways from the Market Study:

  • From 2019 to 2023, the commercial water heater market expanded at a CAGR of 8.6%.
  • Based on storage capacity, the below 500 L segment is expected to rise at a CAGR of 6.6% from 2024 to 2034.
  • The commercial water heater demand in China is predicted to grow at a CAGR of 7.7% through 2034.
  • In the United States, the commercial water heater industry is estimated to register a CAGR of 7.2% from 2024 to 2034.
  • The United Kingdom is projected to expand by a value CAGR of 8.1% between 2024 and 2034.
  • The commercial water heater market in Japan is anticipated to record a CAGR of 8.0% during 2034.

“The, commercial water heater market is experiencing substantial growth due to the expanding footprint of the hospitality sector and a heightened focus on improving energy efficiency.” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

The market players are adapting strategies to cater to the specific needs and preferences of diverse consumer bases. Market players are actively forming strategic alliances, entering into partnerships, and pursuing mergers and acquisitions to propel technology development. Manufacturers are increasingly offering customized and specialized commercial water heating solutions to meet the unique needs of different industries.

Key Players Profiled in the Report:

  • A.O. Smith
  • Rinnai Corporation
  • Rheem Manufacturing
  • Ariston Thermo S.p.A
  • Racold
  • Midea Group
  • Nibe Corporation
  • Nortiz Corporation
  • Hubbell
  • Valliant
  • Lowe’s
  • Bradford White Corporation
  • Flexiheat UK Ltd
  • Daikin Industries

Recent Developments:

  • Racold, a brand of Ariston Thermo, is a major player in the Indian market. They manufacture a wide range of water heating solutions, including commercial water heaters.
  • Midea Group, based in China, is a leading global manufacturer of home appliances and HVAC systems. They offer a diverse range of products, including commercial water heaters.

Commercial Water Heater Market Segmentation Analysis:

By Storage Capacity:

  • Below 500 L
  • 500-1000 L
  • 1000-2000 L
  • 2000-3000 L
  • More than 3000 L

By Power Rating:

  • 0 to 10 kW
  • 10 to 50 kW
  • 50 to 100 kW
  • 100 to 300 kW
  • 100 to 300 kW

By Fuel Type:

  • Electric
  • Gas
  • Oil
  • Solar
  • Hybrid
  • Others

By Application:

  • Healthcare
  • Restaurants
  • Institutes
  • Offices
  • Others

By Region:

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

Access Report Details for More In-Depth Information!

Author:

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.

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.

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.

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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Global Single-Use Gastroscopes Market Set to Reach USD 807.8 Million by 2033 at a 15.6% of CAGR

Single-use Gastroscopes market
Single-use Gastroscopes market

The global single-use gastroscopes market is projected to expand significantly over the next decade, reaching an estimated valuation of US$ 807.8 million by 2033, up from US$ 167.2 million in 2022. This rapid growth is driven by the rising preference for single-use gastroscopes, primarily to mitigate infection risks associated with reusable devices in endoscopic procedures.

FMI’s report underscores several key factors propelling this expansion, including advancements in medical technology, increasing awareness about healthcare-associated infections, and the demand for improved patient safety protocols. With healthcare providers prioritizing infection control and efficiency, single-use gastroscopes are gaining traction as a cost-effective and safer alternative, particularly in high-demand clinical settings.

Single-use gastroscopes are endoscopes that are designed to be used only once and then disposed of, rather than being cleaned and reprocessed for multiple uses. These devices are used to examine the inside of stomach and intestines, and can be used to diagnose a variety of gastrointestinal conditions, such as ulcers, tumors, and inflammation.

Single-use gastroscopes are typically used for diagnostic procedures such as upper GI endoscopies or colonoscopies. The devices are inserted into the patient’s gastrointestinal tract to examine the lining of the esophagus, stomach, and intestines. The gastroscopes include a light source, a camera, and other tools for taking biopsies or removing polyps.

Single-use gastroscopes are available from a range of manufacturers and may vary in design and specifications. They are typically marketed as sterile and single-use only, and should not be reused. The devices should be disposed of in accordance with local regulations for medical waste.

Key Insights from FMI’s Single-Use Gastroscopes Market Survey:

  • Market Value and Growth: The single-use gastroscopes market is anticipated to grow at a robust rate, with heightened adoption across hospitals and ambulatory surgical centers due to infection-control advantages.
  • Technological Advancements: The development of high-performance single-use gastroscopes with enhanced image quality and ergonomic designs is improving procedural efficiency and supporting broader adoption across diverse healthcare settings.
  • Regional Market Trends: North America and Europe currently lead the market, backed by strong healthcare infrastructure and regulatory emphasis on infection control, while Asia-Pacific is expected to witness significant growth due to the rising investment in healthcare and increased awareness of patient safety.

Key Takeaways:

  • GERD is the leading segment as application among patients and professionals, and held about 34.5% market share in 2022, gastroscopes allow doctors to directly visualize the inside of the esophagus and stomach, and to take biopsies or remove small tissue samples for further testing.
  • By end user, the hospitals dominated the global Single-Use Gastroscopes market withholding the total market share of about 46.4% by the end of 2022, owing to the convenience and ease of accessibility to new technological advanced applications.
  • By region, North America is leading in the global Single-Use Gastroscopes market with U.S. contributing around 94.5% value share to the regional market in 2022

“Increasing adoption of Single-Use Gastroscopes and growing awareness and diagnosis of the gastrointestinal diseases to create lucrative potential for the market to grow,” says an analyst at Future Market Insights (FMI).

Future Outlook

The global single-use gastroscopes market is positioned for accelerated growth as healthcare providers increasingly turn to disposable solutions to enhance patient safety and streamline procedures. FMI’s report anticipates continued innovation and investment in single-use gastroscope technologies, which will likely support improved patient outcomes and further adoption in healthcare facilities worldwide.

Competitive Landscape

Key players in the market are focused on increase their product portfolio to strengthen their position in the single-use gastroscopes market, and also to expand their footprint in emerging markets. The key strategy adopted by manufacturers to gain competitive edge in the market are the pricing strategies, market strategies, technological advancements, regulatory compliance and acquisition & distribution agreement of other companies to expand their business.

For instance:

  • In February 2022, Ambu declares that the Ambu aBo 2 and Ambu aScope Gastro have been given 510(k) regulatory approval in the US. The aScope Gastro, Ambu’s first sterile single-use gastroscope, combines state-of-the-art display and processing technology with new advanced imaging features.
  • In January 2023, Fujifilm India announced the addition of two additional endoscopic solutions to its lineup: ClutchCutter and FushKnife. The goods were displayed at the 63rd annual meeting of the Indian Society of Gastroenterology, ISGCON, in Jaipur.

Key Companies Profiled

Ambu A/S; Boston Scientific Corporation; Fujifilm Holdings Corporation; HOYA Corporation; Olympus Corporation; Pentax Medical; KARL STORZ SE & Co. KG; Medtronic; Cook Medical; Richard Wolf GmbH; OBP Medical Corporation; Hill Rom Holdings; Parburch Medical; Flexicare Medical Ltd.; AirStrip Technologies

A Detailed Full Report

Key Segments Covered in Single-use Gastroscopes Industry Research

By Application:

  • GERD
  • Chronic Gastritis
  • Gastric Ulcers
  • Barrett’s Esophagus
  • Others

By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics
  • Diagnostic Centers

By Region:

  • North America
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Western Europe
  • Eastern Europe
  • Central Asia
  • Russia & Belarus
  • Balkan & Baltic Countries
  • Middle East and Africa (MEA)

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:        

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
LinkedIn| Twitter| Blogs | YouTube

 

Global Alcoholic Hepatitis Treatment Market to Reach USD 5.3 Billion by 2033 at a 6.5% of CAGR

Global Alcoholic Hepatitis Treatment Industry
Global Alcoholic Hepatitis Treatment Market

According to a recent analysis by Future Market Insights (FMI), the global alcoholic hepatitis treatment market is set to experience substantial growth over the next decade, with the market value anticipated to reach US$ 5.3 billion by 2033, up from US$ 2.6 billion in 2022. This growth is primarily attributed to the increasing prevalence of liver disorders associated with alcohol consumption, coupled with the rising demand for effective therapeutic solutions to treat alcoholic hepatitis.

FMI’s report underscores several key factors contributing to the expansion of the alcoholic hepatitis treatment market, including advancements in medical therapies, increased healthcare awareness, and the growing focus on early intervention. The market is anticipated to benefit from the introduction of novel pharmacological treatments and supportive care methods aimed at improving patient outcomes and addressing the significant unmet needs within this segment.

Key Insights from FMI’s Alcoholic Hepatitis Treatment Market Survey:

  • Market Growth and Demand: The alcoholic hepatitis treatment market is expected to grow at a robust rate as healthcare providers prioritize early diagnosis and effective intervention strategies.
  • Therapeutic Advancements: Innovations in anti-inflammatory drugs, antioxidants, and immunomodulatory therapies are enhancing treatment options and improving patient outcomes, while new drug developments continue to drive the market forward.
  • Regional Market Dynamics: North America is projected to maintain its leadership in the market, fueled by advanced healthcare infrastructure and high awareness levels, while Asia-Pacific is expected to experience significant growth due to increasing alcohol consumption and healthcare improvements.

Future Outlook

The global alcoholic hepatitis treatment market is on a strong growth trajectory as healthcare providers and pharmaceutical companies continue to address the pressing need for targeted therapies and enhanced patient care. FMI’s report indicates that investments in research and development are expected to facilitate new product launches and more effective treatment protocols, enabling improved quality of life for those affected by alcoholic hepatitis.

Global Alcoholic Hepatitis Treatment Industry Key Takeaways:

  • Drug treatment is the leading segment as treatment among patients and professionals, and held about 88.3% market share in 2022, due to its non-invasive nature and high efficacy in patients.
  • By route of administration, the oral segment is leading with a 78.2% market share in 2022 as oral medications are often the first-line treatment for alcoholic hepatitis because they are effective and relatively easy to administer.
  • By distribution channel, institutional sales dominated the global alcoholic hepatitis treatment market withholding the total market share of about 55.9% by the end of 2022 as healthcare institutions such as hospitals, clinics, and long-term care facilities provide a wide range of services and treatments for patients with alcoholic hepatitis.
  • By region, North America is leading in the global alcoholic hepatitis treatment market with a 39.9% market share in 2022 and is expected to continue to do so during the forecasted years due to the increasing prevalence of alcoholic hepatitis.

“Increasing adoption of stem cell therapies and growing awareness and diagnosis of alcoholic hepatitis to create the lucrative potential for the market in near future,” says an analyst at Future Market Insights (FMI).

Sales Analysis of Alcoholic Hepatitis Treatment Market from 2012 to 2022 Vs Market Outlook for 2023 to 2033

Sales of the market grew at a CAGR of 3.8% between 2012 and 2022. The alcoholic hepatitis treatment market contributes 15.0% revenue share to the global liver diseases treatment market which is US$ 17.5 Billion in 2022.

The market has been growing steadily in recent years and is expected to continue to do so in the coming years. The market is being driven by several factors, including an increased prevalence of liver diseases caused by alcohol consumption, a growing demand for effective treatments, and advancements in medical technology.

The primary driver of the market is the increasing prevalence of liver diseases caused by alcohol consumption. As more people consume alcohol and in higher quantities, the incidence of liver diseases such as alcoholic hepatitis has been on the rise.

Governments are providing funding for research into the causes, prevention, and treatment of liver diseases caused by alcohol consumption. This funding is driving the development of new therapies and technologies that are more effective in treating alcoholic hepatitis. Governments are implementing awareness campaigns aimed at educating the public about the risks associated with excessive alcohol consumption and the importance of early diagnosis and treatment. These campaigns are increasing public awareness of the disease and driving demand for effective treatments.

Therefore, favorable government initiatives are playing an important role in driving the growth of the market by increasing public awareness of the disease, improving access to healthcare, and supporting the development of new therapies and technologies.

Considering this, FMI expects the global market is projected to expand at a CAGR of 6.5% through the forecasted years.

Competitive Landscape

Key manufacturers in the alcoholic hepatitis treatment market employ a range of strategies to gain a competitive edge and increase their market share. These strategies include developing new and innovative drugs, acquisitions and expansions, strategic collaborations, pricing strategies, and regulatory compliance.

For instance:

  • In March 2022, Pfizer Inc. announced that it acquired Arena Pharmaceuticals, a company that develops new potential treatments for immuno-inflammatory diseases.
  • In September 2022, F. Hoffmann-La Roche Ltd entered into a definitive agreement to acquire Good Therapeutics, a privately held biopharmaceutical company.
  • In June 2022, Hikma Pharmaceuticals PLC expanded its presence in France with the opening of Hikma France S.A.S. (Hikma France).

Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the alcoholic hepatitis treatment market space, which are available in the full report

Key Companies Profiled

F. Hoffmann-La Roche Ltd (Genentech, Inc); Teva Pharmaceuticals; Pfizer; Alkermes, Inc; Viatris Inc; Merck KGaA; Sun Pharmaceutical Industries Ltd; Hikma Pharmaceuticals PLC; H. Lundbeck A/S; Mallinckrodt; Glenmark Pharmaceuticals U.S. Inc; Torrent Pharmaceuticals Ltd; Wellona Pharma

A Comprehensive Full Report

Key Segments Covered in Alcoholic Hepatitis Treatment Industry Research

By Treatment:

  • Drug Treatment
    • Acamprosate
    • Naltrexone
    • Pentoxifylline
    • Infliximab
    • Corticosteroids
    • Benzodiazepines
    • Nutritional Supplements
    • Others
  • Stem Cell Therapy

By Route of Administration:

  • Oral
  • Injectable

By Distribution Channel:

  • Institutional Sales
    • Hospitals
    • Stem Cell Centers
    • Specialized Clinics
    • Cancer Research Institutes
  • Retail Sales
    • Retail Pharmacies
    • E- Commerce/Mail Order Pharmacies

By Region:

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

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:        

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
LinkedIn| Twitter| Blogs | YouTube

Global Protein Diagnostics Market Expected to Reach USD 8.3 Billion by 2033 at a 5.4% of CAGR

Protein Diagnostics Market
Protein Diagnostics Market

According to a recent analysis by Future Market Insights (FMI), the global protein diagnostics market is poised for substantial growth over the coming decade, with an estimated valuation reaching US$ 8.3 billion by 2033, up from US$ 4.7 billion in 2022. This growth trajectory reflects the increasing demand for advanced diagnostic tools and solutions, propelled by the rising need for early disease detection and the rapid pace of innovation in biotechnology.

The FMI report highlights several critical factors contributing to this upward trend, including the heightened focus on personalized medicine, advances in protein biomarker research, and technological innovations in diagnostic platforms. As healthcare providers seek to improve early diagnosis and treatment effectiveness, the market for protein diagnostics is anticipated to expand, addressing a range of conditions from infectious diseases to cancer and chronic illnesses.

Key Insights from FMI’s Protein Diagnostics Market Analysis:

  • Market Value and Growth: The protein diagnostics market is projected to grow steadily, driven by increased adoption in clinical laboratories and research settings.
  • Technological Advancements: Innovations in diagnostic assays, including high-sensitivity tests and multiplexed assays, are enhancing the detection and quantification of protein biomarkers, improving accuracy and reducing diagnostic timelines.
  • Regional Growth: North America is expected to maintain its leadership position due to advanced healthcare infrastructure and high R&D investment, while Asia-Pacific is likely to witness notable growth due to expanding healthcare access and rising awareness about early diagnostics.

Future Outlook

The global protein diagnostics market is set for accelerated growth as researchers and healthcare providers increasingly utilize advanced diagnostic technologies to enhance patient outcomes. FMI’s report anticipates continued investments in research and development, leading to the introduction of cutting-edge diagnostic solutions that support early intervention and targeted treatment approaches.

Key Takeaways:

  • Reagent Kits are the leading segment of products among end users and held about 62.3% market share in 2022, the growing number of infectious diseases has led to their high adoption of reagent kits.
  • By sample, serum is the most compatible because it is an abundant source of protein, accessibility, and stability than other samples. The segment contributes 35.4% value share to the global market in 2022.
  • Disease diagnosis held the dominant market share of 85.0% among other applications in 2022, due to the recent rise of infectious diseases and hospital-acquired infections.
  • Turbidimetry held a market share of 76.3% in 2022, owing to the factor that it shortens the assay time by enabling faster binding of the antibodies and antigen
  • Hospital segment by end user accounted for a revenue share of 36.9% in the global market at the end of 2022. Hospitals are built to provide coordinated care across departments and specializations, which can be useful when many diagnostic tests are required to reach a diagnosis.
  • By region, North America is leading in the global Protein Diagnostics market and is expected to continue to do so with a projected CAGR rate of 6.7% during the forecasted years.

“Increasing adoption of protein diagnostic testing for the identification of underlying diseases and early detection of chronic disease are the key drivers of the Protein Diagnostics market,” says an analyst at Future Market Insights (FMI).

What are the Key Opportunities in the Protein Diagnostics Market?

Clinical diagnostics play a crucial role in healthcare, particularly in the detection and chronic disease such as the management of cancer, which is a leading cause of mortality worldwide.

Early detection through effective prevention, screening, and diagnostic measures can significantly reduce treatment costs and save lives. Diagnostic tests can provide important information about a patient’s health status, including their risk for cancer, disease stage, and prognosis. Promoting awareness of the disease and its symptoms can encourage patients to take advantage of preventive measures and seek medical care early.

Protein tests can detect these changes in protein levels, providing early indications of disease before symptoms manifest. For example, elevated levels of prostate-specific antigen (PSA) in the blood can be an early indicator of prostate cancer, and abnormal levels of protein in cerebrospinal fluid (CSF) can be a sign of neurological disorders such as Alzheimer’s disease or multiple sclerosis.

C-reactive protein (CRP) is also a useful biomarker for monitoring other inflammatory conditions, such as rheumatoid arthritis and inflammatory bowel disease.

The CRP test has found an important role in COVID monitoring. Along with that detection of IgM and IgG provide a simple, quick, and accurate detection method for suspected COVID-19 cases. This increased demand for protein diagnostics kits, driving growth in the global protein diagnostics market.

Increased regular health check-ups in patients will pave the way for protein diagnostics, ultimately leading to the introduction of technologically advanced products into the market.

Competitive Landscape

The industry’s major players are concentrating on diversifying their product offerings to boost their market share in the protein diagnostics sector and broaden their presence in developing nations. Pricing strategies, market strategies, technology improvements, regulatory compliance, and acquisition and distribution agreements with other companies to extend their business are among the primary approaches used by manufacturers to acquire a competitive edge in the market.

For instance:

  • Roche and Eli Lilly and Company collaborated on Mar 2023 to develop Elecsys® Amyloid Plasma Panel (EAPP) – (Roche’s Brand). The EAPP is a cutting-edge blood test created to help with early Alzheimer’s disease diagnosis.
  • The Binding Site Group (The Binding Site), a world leader in specialty diagnostics, was acquired by Thermo Fisher Scientific Inc. in January 2023.

Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the protein diagnostics market space, which are available in the full report

Key Companies Profiled

Beckman Coulter, Inc.; Siemens Healthineers; F. Hoffmann-La Roche Ltd.; Agilent Technologies, Inc.; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Elabscience Biotechnology Inc.; Goldsite Diagnostics Inc.; Getein Biotech, Inc.; Randox Laboratories Ltd.; Hipro Biotechnology Co., Ltd.; Beijing Strong Biotechnologies, Inc.

A Full Report Overview

Key Segments Covered in Protein Diagnostics Industry Research

By Product:

  • Analyzers
  • Reagents
    • Albumin Test Kits
    • Alpha-1-Microglobulin Albumin Test Kits
    • Alpha-2-Macroglobulin Albumin Test Kits
    • C-Reactive Protein Test Kits
    • Fibrinogen Test Kits
    • Fibronectin Test Kits
    • Haptoglobin Test Kits
    • Kappa Light Chains Kits
    • Lambda Light Chains Kits
    • Transferrin Test Kits
    • Alpha-1-Acid Glycoprotein Test Kits
    • Alpha-1-Antitrypsin Test Kits
    • Apolipoprotein B Test Kits
    • Cystatin Test Kits
    • Ferritin Test Kits
    • Immunoglobulin Test Kits
      • IgA
      • IgE
      • IgG
      • IgG 1
      • IgG 2
      • IgG 3
      • IgG 4
      • IgM
  • Lipoprotein Test Kits
  • Others
  • Calibrators & Controls Kits/Reagents

By Sample:

  • Serum
  • Plasma
  • Urine
  • Cerebrospinal Fluid
  • Others

By Application:

  • Drug Discovery and Development
    • Antigen-Antibody Reaction
    • Immunocomplex Reaction
    • Protein Measurement
    • Others
  • Disease Diagnosis
    • Cancer
    • Infectious Disease
    • Blood Coagulation
    • Renal Function
    • Liver Diseases
    • Autoimmune Disorder
    • Others
  • Other Applications

By Technology:

  • Turbidimetry
  • Nephelometry

By End User:

  • Hospital
  • Diagnostic Labs
  • Reference Labs
  • Speciality Clinics/Standalone

By Region:

  • North America
  • Latin America
  • China
  • East Asia
  • South Asia and the Pacific
  • Western Europe
  • Eastern Europe
  • Central Asia
  • Russia and Belarus
  • Balkan and Baltic Countries
  • Middle East and Africa

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:        

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
LinkedIn| Twitter| Blogs | YouTube

Web 3.0 Blockchain Market Projected to Grow at 44.9% CAGR by 2034

The Web 3.0 Blockchain Market for 2024 to 2034 is set for robust expansion, spurred by rising demand for decentralized and secure online solutions. With the market expected to achieve a 44.90% compound annual growth rate (CAGR) from 2024 to 2034, valuation projections are significant: starting at USD 5,627.60 million in 2024 and reaching a potential USD 229.15 billion by 2034. This upsurge underscores the growing shift towards blockchain technologies as businesses aim to deliver more secure, transparent, and user-controlled digital environments.

This growth trajectory reflects the increasing awareness and adoption of Web 3.0 as a transformative solution in blockchain-based applications, reshaping digital transactions and social interactions. Key players in the industry are investing heavily in blockchain solutions to offer transparent, decentralized networks that allow users to control their data and build trust with consumers.

As Web 3.0 blockchain-based applications gain momentum across financial, healthcare, media, and retail sectors, the market’s promising potential is further validated by factors such as robust investor confidence, increasing regulatory support, and a focus on securing data privacy. Major players continue to enhance Web 3.0 platforms, anticipating significant demand from a tech-savvy, privacy-focused consumer base.

Key Takeaways from the Market Study:

  • The global Web 3.0 Blockchain Market for 2024 to 2034 is projected to grow from USD 5,627.60 million in 2024 to USD 229.15 billion by 2034, with an impressive CAGR of 44.90%.
  • Increasing consumer preference for decentralized, data-secure networks is a primary growth driver.
  • Financial services are expected to be a dominant segment due to blockchain’s ability to enhance transactional transparency.
  • North America currently leads the market, with a significant share attributed to high digital adoption and investments in blockchain technologies.

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Drivers and Opportunities:
The demand for transparency, data privacy, and user-controlled networks is a key driver behind the Web 3.0 Blockchain Market. The rise in data security concerns, coupled with an increasing mistrust of traditional, centralized platforms, is propelling the adoption of Web 3.0 solutions. Companies that implement blockchain-backed, decentralized platforms may gain a competitive edge by providing consumers with increased control over their data. Additionally, governmental and regulatory bodies are showing a positive inclination toward Web 3.0 blockchain applications, enhancing consumer confidence and accelerating adoption rates.

Component Insights:
The market is segmented into hardware, software, and services. Software solutions currently dominate due to their central role in blockchain infrastructure development and data decentralization protocols. The service component is also expected to see substantial growth as more organizations invest in consulting and integration services to adapt their systems for blockchain compatibility.

Application Insights:
Applications of Web 3.0 blockchain extend across sectors, with finance, healthcare, and media among the key verticals witnessing rapid adoption. The finance sector is expected to remain at the forefront, leveraging blockchain for secure, transparent, and efficient financial transactions. The healthcare industry is also showing promising adoption trends, with blockchain solutions enhancing data security and interoperability.

Deployment Insights:
The Web 3.0 blockchain market features both on-premise and cloud deployment models. Cloud deployment is anticipated to dominate, driven by increased scalability, cost-effectiveness, and accessibility for businesses of all sizes. However, certain enterprises with stringent data security needs continue to prefer on-premise solutions, creating steady demand in this segment.

Key Companies & Market Share Insights:
The market is competitive, with key players including IBM, Microsoft, and Oracle, alongside new entrants specializing in decentralized technologies. Market leaders focus on building advanced, user-centric blockchain platforms, targeting sectors like finance, retail, and healthcare. Through strategic partnerships and mergers, companies aim to diversify their offerings and strengthen their foothold in the market.

Recent Developments:

  • IBM announced advancements in its blockchain platform to enhance security and scalability in financial transactions.
  • Microsoft expanded its Azure Blockchain Workbench to provide integrated blockchain solutions, catering to SMEs and large enterprises alike.
  • Oracle partnered with healthcare firms to enable decentralized patient data management through its blockchain solutions.

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