Europe Is The Leading Elevator And Escalator Market With A Revenue Of 25.6% | Says FMI

The elevator and escalator market are focusing on cutting-edge technologies to make their products safer and eco-friendly, finds Future Market Insights (FMI) in a recent study. Elevator and Escalator Market registering Y-o-Y growth of 6.6%. The market is projected to increase at a CAGR of 4.5% and attain a valuation of US$ 100.12 Bn by the end of 2030.

Europe currently holds the largest share of the elevator and escalator market, with a revenue of 25.6%. This is attributed to the rising development of advanced products by Europe-based manufacturers and their increasing adoption across countries such as the U.K. and Germany. Furthermore, the renovation and development of high-rise buildings are further expected to provide new growth opportunities for the market in this region.

Some of the leading companies are incorporating IoT technologies in connected elevators and escalators. This has allowed them to control various parameters such as load capacity, frequency of usage, and others. Such technological improvements are expected to bode well for the overall market.

According to FMI, the elevator and escalator market is anticipated to witness growth of ~4.5% CAGR during the forecast period from the year 2020 to 2030.

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Infrastructural development witnessed across the world, besides increase in population is encouraging growth in the construction industry. This has been creating growth opportunities for the elevator and escalator market. Despite requiring expert handling and maintenance expenditure, the demand for elevators and escalators are projected to increase further in the coming years.

The recent COVID-19 outbreak has resulted in declining market growth. However, several factors are expected to drive the elevator and escalator market during the forecast period.

FMI offers an exhaustive overview of the elevator and escalator market along with its potential, growth drivers and restraints.

Some of the key takeaways from the report are highlighted below-

  • Product-wise, elevator is expected to lead the market followed by escalator during the forecast period
  • Load type-wise, passenger segment will exhibit hegemony in the coming years
  • New system installation type is set to gain traction in the global market
  • Commercial end use segment is projected to exhibit highest growth followed by the residential segment throughout the forecast period
  • New-age IoT technology will cater to the steady market growth in the near future
  • East Asia elevator and escalator market will maintain the lead while emerging as the highest growing market among all other regions

“As the building and construction industry is expanding rapidly, the demand for elevators and escalators is rising higher. To capitalize on prevailing opportunities, market players are launching novel cutting-edge technologies that offer more sophisticated functionalities in elevator and escalator. This is anticipated to create lucrative growth opportunities for the market in the coming years,” says an FMI analyst.

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COVID-19 Impact Analysis

The elevator and escalator market growth has been declining due to the novel coronavirus outbreak. As consumers have shifted their focus more on emergency services such as medical, diagnostic, pharmaceutical and others instead of building and construction sectors, the market growth rate has fallen temporarily.

Added to this, the factors such as non-operational manufacturing units, unavailability of labours, scarcity of raw materials, disruptive supply chain and logistics sector, financial crisis, job recession, and others have slowed down the progress of market.

According to FMI, the elevator and escalator market is set to recover by the first quarter of the year 2021.

Who is Winning

As the elevator and escalator market potential is rising steadily, the key market players are focusing on launching advanced designs to gain competitive edge. For instance, DOPPLER S.A. has launched their DOPPLER Lift Hygiene Solutions equipped with air sterilizer using UV photo catalyst sterilization and UV antibacterial light disinfection system in 2020.

Kone Corporation has launched Kone Health & Wellbeing Solutions for Elevators and Escalators which include escalator handrail sanitizer, elevator remote call using whatsapp, elevator air purifier, and others in June 2020.

Some of the leading companies operating in the market are DOPPLER S.A, Kone Corporation, Orona Group, EMAK Elevator, Sanyo Elevator (Zhuhai) Co., Ltd, and others.

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More Valuable Insights on Elevator and Escalator Market

In the latest report by Future Market Insights, we offer a detailed unbiased analysis of the global elevator and escalator market, providing historical data for the period of 2015-2019 and forecast statistics for the period of 2020-2030.

In order to understand the global market potential, its growth and scopes, the market is segmented on the basis of product type (elevator (hydraulic, traction, machine room less, vacuum), escalator (step type, belt type, cleat type, spiral)), load type (passenger, freight, observation, others), installation (new system installation, retrofit), end use (residential (low rise building, mid rise building, high rise building), commercial (hotels, airports, subway stations, commercial complexes, offices & institutions, industrial), hospital, infrastructure & construction, transportation & logistics),  across six major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA).

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By 2032, Market Value Of Agricultural Equipment Is Expected To Reach US$ 108.86 Bn | FMI

The global agricultural equipment market is expected to be valued at US$ 68.12 Billion in 2022. With the increasing growth of the farm mechanization, coupled with the increase in investments by OEMs for Agricultural Equipment, the overall demand for agricultural equipment is projected to grow at a CAGR of 4.8% between 2022 and 2032, totaling around US$ 108.86 Billion by 2032.

The demand for agriculture tools is growing year on year. The governmental bodies provide the appropriate interest schemes to farmers by investing in their farm tools business. Also, the materialization of contract farming has also boosted market growth.

Key players are concerned about endorsing gears approved by international standards such as ISO 25119 Series. It was developed by ISO technical committee ‘ISO/TC 23, Tractors and Machinery for agriculture and forestry, subcommittee SC19. These standards are acknowledged by a run for a longer time period and do not need any recovery time.

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The adoption of technologies including mechanized IoT implementation, AI-based equipment, GPS-enabled equipment, flying drones is aiding the market growth opportunities. Modern agriculture equipment is influencing the manufacturers to develop products that could meet the end-users’ demand. The mechanized equipment are controlled by remote devices through the integration of IoT, which helps to reduce the operational cost and relative operational time.

Additionally, A.I. technology has advent robotics by implementing agriculture robotics, including autonomous tractors, ground-based sensors, and others that help produce food at reasonable costs. This technology has immensely boosted digitalization in the agriculture sector. The primary factor contributing to the growth of this market is advancement in technology and the increasing adoption of advanced equipment in agriculture furthermore the increasing usage of cost-cutting methodologies for designing farm equipment is contributing to the growth of this market, in addition to this, the growing population has to lead to increased demand for food this is also a major factor driving the growth of Agricultural Equipment Market.

Moreover, the initiatives taken by the government to provide subsidies are having a positive impact on this market. In addition, companies are educating farmers about the loan policies, credit financing and other benefits of contract farming is another factor boosting the market growth. A shift in agriculture activities from animals or manual operations to the automated method is the major factor propelling the growth of the agricultural equipment market.

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Key Takeaways from the Market Study

  • Agricultural equipment market value surged at a 1.9% CAGR from 2017 to 2021, reaching US$ 65 Billion
  • North America to emerge as the kingpin, expected to accumulate 54% revenue in 2022
  • Asia Pacific to be a significant contributor, yielding over 2/5th of market revenue
  • Middle East & Africa attracting major investments, generating 36.7% revenue in 2022
  • Agricultural tractors to be most sought after equipment, capturing a market share of 32%
  • By ownership, rental-based equipment to amount to under one-third of overall revenue

The adoption of technologies including mechanized IoT implementation, AI-based equipment, GPS-enabled equipment, flying drones is aiding the growth opportunities for the Agricultural Equipment Market, remarks an FMI analyst.

Competitive Landscape

Players in the global Agricultural Equipment Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

  • In January 2022, John Deere revealed a fully autonomous 8R tractor. The new tractor features with TruSet-enabled chisel plow, GPS guidance system, and new advanced technologies including six pairs of stereo cameras enabling 360-degree obstacle detection and calculation of distance, and a deep neural network that classifies each pixel of each image in 100 milliseconds.
  • In December 2021, New Holland Agriculture designed a Straddle Tractor to meet the demanding requirements of the narrow vineyards typical of the premium wine growing regions such as Champagne, Médoc, and Burgundy.
  • In November 2021, John Deere developed new material collection systems and mechanical grappleS for compact utility tractors. The New Frontier MG20F Mechanical Grapple offers a quick-attach solution for fast installation and features a 1,200-pound (544 kg) lift capacity.

Know More About What the Agricultural Equipment Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Agricultural Equipment Market, providing historical data for 2017-2021 and forecast statistics from 2022-2032.

To understand opportunities in the Agricultural Equipment Market, the market is segmented on the basis of product type, category, and ownership across six major regions.

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Key Segments Covered in the Agricultural Equipment Industry Analysis

Agricultural Equipment Market by Product Type:

  • Tractors
  • Rotavators
    • Wheel Type
    • Crawler Type
  • Threshers & Dehuskers
    • Wheel Type
    • Crawler Type
  • Power Tillers
    • Wheel Type
    • Crawler Type
  • Power Weeder
    • Wheel Type
    • Crawler Type
  • Plough
  • Baler
  • Seed Drill

Agricultural Equipment Market by Category:

  • Tractor Pulled / Attachment
  • Self-Propelled

Agricultural Equipment Market by Ownership:

  • Individual
  • Rental

Agricultural Equipment Market by Region:

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

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North America Leads The Robotic Lawn Mower Market With A Share Of 12.5%- Says FMI

It is expected that the robotic lawn mower market would expand, from US$ 821.76 million in 2022 to US$ 2,721.23 million in 2032. According to FMI, the market is anticipated to develop at a CAGR of 11.5% during the forecast period. The growth factors helping in the expansion of the robotics lawn mower market size consist of increasing construction of public gardens, commercial buildings, and landscaping services.

The global robotic lawn mower market is anticipated to grow at a faster rate. This is owing to the increase in reliance on robots as a result of the development of AI technology. Additionally, the global market for smart phones has grown significantly over the years, which has led to the creation of robotic lawn mowers that can be operated using smart phones for both personal and business purposes.

A consistent surge in the robotic lawn mower market is expected with an opulent CAGR of over 11.5% and is projected to reach a market valuation of US$ 737 Mn in 2021. Growing demand for ecologically sound technology and the shift of consumers towards elevating their backyard lawns have led to reasonable growth in the robotic lawn mower market.

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Key Takeaways

  • Lack of competent labor, massive investment in research on Artificial Intelligence, and efficient properties of robotic lawn mowers are expected to bolster sales of robotic lawn mowers throughout the forecast period of 2022-2032.
  • Surging investments in research on Artificial Intelligence and properties of robotic lawn mowers, and support from the government through favorable policies are creating prospects for robotic lawn mower sales growth.
  • The leading players in the robotic lawn mower market are focusing on mergers & acquisitions, and partnerships to strengthen their position in the market, further enhancing their product portfolio.
  • The rising inclination toward landscaping services and the unavailability of competent labor in the market compelled manufacturers to undertake the route collaboration. These collaborations will further aid in producing zero-emission autonomous mowing machines, resulting in higher sales of the robotic lawn mower market.
  • The boom in the residential sector is anticipated to deploy robotic lawn mowers and aid in generating nearly 60% of total returns to shareholders. Owing to the expansion of activities including landscaping, backyard beautification, and cookouts, garden parties, along with the need to save time on lawn maintenance activities, are driving the adoption of robotic lawn mowers in this end-use sector.
  • The commercial sector, in the recent past, has been staunchly inclining towards automation to achieve operational efficiency. Robotic lawn mower market players are tapping into this opportunity to uncover new revenue lines.

Competitive Landscape

Husqvarna AB, MTD Products, STIGA S.p.A., KYODO CO., LTD., Robert Bosch GmbH, Deere & Company, NINGBO NGP INDUSTRY CO., LTD., and Honda are some of the key companies profiled in the full version of the report.

These leading key players in the market account for a total of 55% global market share. Approximately 60% of the total return would be generated by the residential sector owing to the increased expenditure on the beautification of backyards and lawns and gardens. The commercial sector, in the recent past, has been staunchly inclining towards automation in order to achieve

operational efficiency. Robotic lawn mower market players are tapping into this opportunity to uncover new revenue lines.

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More Insights into the Robotic Lawn Mower Market

North America and Europe will continue to create maximum traction for stakeholders in the robotic lawn mower market over the projection period. These regions have been a testing ground for robotic technology over the past couple of decades and continue to account for nearly ¾ of total market revenue, collectively.

FMI analysis further reveals that the most worthwhile value-capturing prospects are presented by the U.S. market. While these developed regions are showing substantial growth opportunities, market players are also turning to Southeast Asia & Pacific for a sustained market foothold.

Owing to the technological advancements, Market incumbents are developing robotic lawn mowers equipped with GPS technology, which allows the mowers to operate within virtual boundaries. These GPS-enabled robotic lawn mowers come with enhanced flexibility and applicability in green spaces.

Since virtual boundaries can be adjusted to cater to the ever-changing needs of commercial and residential areas. GPS technology overcomes the challenges of existing robotic lawn mowers, such as working on hard surfaces and scarifying and aerating the lawn.

By the end of the forecast period, manufacturers are predicted to reap approximately US$ 1 Bn via offline sales channels. As customers are becoming more demanding and discerning, shareholders are stepping into the e-Commerce.

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Canada Condition Monitoring System Market is anticipated to grow at a CAGR of almost 7% | FMI

The global demand for condition monitoring services is projected to surpass the valuation of US$ 6.79 Bn by 2031 end. Demand in the Canada market is expected to rise at nearly 7% CAGR over the forecast period. The condition monitoring system market in Canada is driven by the presence of a well-developed oil and gas industrial landscape and thriving food & beverage industry which is hugely backed by the government.

As recommended by a replacement Future Market Insights (FMI) report, substantial growth within the condition monitoring service market is principally backed by the expansion of the facility generation industry. Which holds an outstanding share of the general market value, closely followed by the chemical and petrochemical industries.

The automotive, logistics, and petrochemicals industries, in particular, are well within the radar of the potential impact of the virus.  Several business executives have halted their manufacturing operations, given the large-scale lockdowns in the majority of countries.

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Increasing urbanization and rapid industrialization are creating massive opportunities for key market players in the automotive & transportation industry, thereby bolstering the adoption of condition monitoring services in the global market. On the flip side, the current global coronavirus pandemic is expected to cost the global economy about US$ 1 Tn in 2022, as per the UN Conference on Trade and Development.

Key Takeaways of Condition Monitoring Service Market Study

  • According to our research, the portable machine diagnostic segment is shaping the revenue pool of the condition monitoring service market as the portable equipment is used to analyze data from the sensors, saving time of operation.
  • In the current scenario, integration of condition monitoring software with computerized maintenance management services & process control software is an emerging trend in the global condition monitoring service market.
  • North America is a prominent market for condition monitoring services and is expected to continue its hegemony, owing to its strong industrial growth and high adoption of the services in the region.
  • In the global condition monitoring service market, over 55% of the revenue comes through vibration analysis and oil analysis segments. A rising focus on maintenance to minimize asset downtime is fueling the deployment of both techniques.

In order to minimize the asset downtime, it is necessary to monitor the assets continuously or in regular intervals, especially in facilities such as power generation and petrochemical plants. Given the criticality of highly accurate results in such facilities, manufacturers are striving to further develop condition monitoring software that can be integrated into the services to record the data.

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Condition Monitoring System Market by Category

By Technique:

  • Corrosion Monitoring
  • Infrared Thermography
  • Motor Condition Monitoring
  • Oil Analysis
  • Ultrasound Testing
  • Vibration Analysis

By Application:

  • Aerospace and Defense
  • Automotive and Transportation
  • Chemical and Petrochemical
  • Food & Beverage
  • Marine
  • Mining and Metal
  • Oil and Gas
  • Power Generation

About Us:

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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Freeze Drying Market Growth Accelerating with Increasing Applications in Biopharmaceutical and Food Industries: Future Market Insights

[250 Pages Report] According to Future Market Insights’ most recent industry report, the global freeze drying market was valued at approximately US$ 1.0 Bn in 2021 and is expected to rise at a CAGR close to 8.5% over the forecast period, with an anticipated worth of around US$ 2.5 Bn in 2032.

Freeze drying often referred to as lyophilization, is a method that uses low pressure and sublimation to remove water from a material in the form of ice. This technology has numerous applications in the manufacture of high-quality food and pharmaceuticals.

Despite its popularity, substantial research on freeze-drying is continually being carried out in order to enhance the process variables for specific applications, enhance product features through pre-treatments, and minimize energy costs and process time.

The major goal of the freeze-drying procedure is to ensure consistent product quality not just within a batch but also between batches. As a result, during freeze-drying, product temperature becomes a crucial product quality aspect. When the product has the same thermal history throughout the batch, from batch to batch, as well as throughout lab scale, pilot scale, and production scale dryers, consistent product quality is ensured.

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The market has grown as a result of factors like the rapidly expanding pharmaceutical and food processing industries. The market is projected to grow as consumers become more aware of the product’s benefits, such as improved desiccant drying and air-drying efficiency.

Key Takeaways from Market Study

  • Dryers are the leading segment as a product and hold approximately 7% market share in 2021, owing to the customer preference for nutrition from whole foods being supported by the fact that freeze-drying retains nutritional content better than other drying techniques.
  • Industrial-scale of operations holds a market share of around 6% in 2021. Because of the preservation of quality, freeze-drying is thought to be the best method for dehydrating food on an industrial scale.
  • Biopharmaceutical companies are the top distribution channel in the worldwide freeze drying market, and this trend is anticipated to continue with a projected CAGR of 7% over the forecasted years.
  • North America is considered as the leading region with a value share of 8% in 2021, owing to the presence of established biopharmaceutical companies in the region.

“Shifting consumer values, the rapid expansion of the pharmaceutical and food processing industries, and rising consumption of preserved foods are driving the global freeze drying market,” says an analyst of Future Market Insights.

Market Competition

The global market can be characterized as being extremely competitive and consolidated, with a few significant competitors controlling the industry. Additionally, they are investing heavily in R&D to create novel solutions and acquire a competitive edge. To obtain a competitive edge, numerous businesses are engaging in mergers and acquisitions and deploying cutting-edge technologies.

Key Companies Profiled

  • Azbil Corporation
  • Zirbus Technology GmbH
  • HOF Sonderanlagenbau GmbH
  • Millrock Technology, Inc.
  • Fr
  • MechaTech Systems Ltd.
  • SP Industries, Inc.
  • Martin Christ Gefriertrocknungsanlagen GmbH
  • Cuddon Freeze Dry
  • Neologic Engineers Private Limited

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Key developmental instances include:

  • Telstar, a division of the Azbil Group, in December 2020, developed a new line of GMP freeze-dryers with a modular design. The new series of lyophilizers sold under the Lyozeta brand is a standardised version of its top-of-the-line GMP customizable freeze-dryers built to function aseptically.
  • In order to add two HOF horizontal plate freeze-thaw machines to Sartorius’ product line and offer customers a full selection of relevant freeze-thaw equipment and consumables, a partnership between Sartorius and HOF Sonderanlagenbau was announced in December 2021.

Key Market Segments Covered in Freeze Drying Industry Research

By Product:

  • Dryer
    • Tray-style dryers
    • Rotary Freeze Dryers
    • Manifold Freeze Dryers
  • Accessories
    • Drying Chamber
    • Vacuum System
    • CIP (Clean-in-place) Systems
    • Other Accessories

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By Scale of Operations:

  • Pilot-scale
  • Laboratory-scale
  • Industrial-scale

By Distribution Channel:

  • Biopharmaceutical Companies
  • Food and Beverage Companies
  • Academic and Research Institutes
  • CRO &  CMO
  • Hospitals
  • Research Laboratories

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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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Dentures Market Growth Accelerating with Increasing Incidence of Periodontal Diseases, and a Growing Elderly Population: Future Market Insights

[250 Pages Report] According to Future Market Insights’ most recent industry report, the global dentures market was valued at approximately US$ 1.6 Bn in 2021 and is expected to rise at a CAGR close to 6.7% over the forecast period, with an anticipated worth of around US$ 3.2 Bn in 2032.

Market Outlook:

Data Points Market Insights
Market Value 2021 US$ 1.6 Bn
Market Value 2022 US$ 1.7 Bn
Market Value 2032 US$ 3.2 Bn
CAGR 2022-2032 6.7%
Market Share of Top 5 Countries 56.6%

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For people with partial and edentate dentition, dentures are a great treatment option. Dentures are medical devices that are custom-made and recommended by dentists and dental clinical specialists to replace oral soft and hard structures. In the UK, about one in five persons wear dentures, and the prevalence of denture use rises with age, according to an Adult Dental Health Survey. Acrylic (polymethylmethacrylate [PMMA]), metal alloys (cobalt-chromium), and polymers can all be used to make denture bases.

Changing demographics indicate a rise in life expectancy as well as an increase in the number of elderly people. Age-related population growth has led to an increase in the number of older people who need dentures. One of the most essential treatment choices in prosthodontics is complete dentures.

Edentulism is a major public health issue around the world due to its high frequency (>10% in those aged 50 and up) and associated impairment. Simply put, edentulism is the absence of any natural teeth in the oral cavity. According to the World Health Organization (WHO) databanks, severe periodontal disease affects 5% to 20% of the global population. Complete edentulism is believed to occur between 7% and 69% of people worldwide.

The growing ageing population needing dentures, a changing healthcare structure, as well as growing focus on edentulism, are factors set to provide propulsion towards growth, to the overall global dentures market, over the forecasted years.

Key Takeaways from Market Study

  • Acrylic for dentures are the leading segment as material, and hold approximately 4% market share in 2021. Partial and full dentures frequently employ acrylic as their base material. Because dentures require adjustments over time, the material’s ease of molding makes it an excellent choice for this application.
  • Complete denture, segmented by type, holds a market share of around 5% in 2021, as many individuals find complete dentures to be tolerable in terms of functionality and appearance.
  • By usage, removable dentures account for around 4% of the global market share in 2021, owing to the large volumes of adoption of partial removable dentures, globally.
  • Dental clinics are the top end-user in the worldwide dentures market, and this trend is anticipated to continue with a projected CAGR of 8% over the forecasted years. This is because dental clinics are the preferred location for treatment adoption in a medical environment.
  • North America is considered the leading region with a value share of 8% in 2021, owing to the presence of established dental care facilities in the region.

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“Rapidly ageing population, growing adoption of CAD/CAM technology for dental prosthetics, and rising awareness on dental-facial aesthetics are factors propelling demand within the global dentures industry,” says an analyst of Future Market Insights.

Market Competition

Through the adoption of 3D printing technology, as well as
CAD/CAM methods, key players are adopting strategies, which will cater to the customized patient demand for dentures and dental prosthetics. Moreover, with a fragmented market space, the dentures market comprises of several key and established players, as well as local and regional competitors.

Key Companies Profiled

  • DENTSPLY SIRONA Inc.
  • COLTENE Holding AG
  • GC dental
  • Amann Girrbach AG
  • Ivoclar Vivadent AG
  • Zimmer Biomet Holdings Inc.
  • Mitsui Chemicals Inc.
  • Keystone Dental, Inc.
  • Align Technology, Inc.
  • VOCO GmbH

Key developmental instances include:

  • A leading silicon valley-based digital manufacturing business, Carbon, and Dentsply Sirona announced a strategic collaboration to offer innovative denture materials for carbon digital 3D printing manufacturing solutions in January 2019.
  • Ivoclar Vivadent established a whole processing chain for the digital fabrication of removable dentures in August 2020 with the Ivotion Denture System. The system’s core component is the outstanding CAD/CAM disc Ivotion, which enables the production of distinct monolithic prostheses in a single milling operation.

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 Key Market Segments Covered in Dentures Industry Research

By Material:

  • Acrylic
  • Metal
  • Others

By Type:

  • Complete
  • Partial

By Usage:

  • Removable
  • Fixed

By End User:

  • Dental Clinics
  • Hospitals
  • Dental Group Practices

By Region:

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

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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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Monoclonal Antibodies Market to touch US$ 648.01 Billion by 2032; applications abound in Oncology: FMI Report

[286 Pages Report] The global demand for monoclonal antibodies market is projected to increase at a CAGR of 12% during the forecast period between 2022 and 2032, reaching a total of US$ 647.01 Billion in 2032, according to a report from Future Market Insights (FMI). From 2017 to 2021, sales witnessed significant growth, registering a CAGR of 6.1%.

Data Points Key Statistics
Estimated Base Year Value (2021) US$ 186 Billion
Expected Market Value (2022) US$ 208.32 Billion
Anticipated Forecast Value (2032) US$ 647.01 Billion
Projected Growth Rate (2022-2032) 12% CAGR

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Human mAbs offer efficient modulation in effector functions and are less immunogenic as compared to chimeric or humanized mAbs. Such antibodies can be produced through the use of phage display and hybridoma technologies in transgenic mice. As a result, with recent technological progress in genetic engineering, the production of fully human mAbs is anticipated to gain traction in the near future.

North America recorded the largest market share of 46.2% in 2021 due to the presence of a highly developed healthcare infrastructure, high patient awareness, and growth in cancer research prospects, among other factors. Moreover, increasing government expenditure for cancer research and the presence of key players such as Pfizer Inc., Amgen, Inc., and Merck & Co., among others, are expected to boost the market growth. Rising healthcare expenditure across the world, increasing patient awareness levels, and availability of advanced hospital infrastructure in developed countries are factors expected to result in the dominance of the segment during the forecast period.

Key Takeaways from the Market Study 

  • In 2022, the global monoclonal antibodies market size was valued at USD 186 billion in 2021.
  • The market is projected to increase at a CAGR of 12% during the forecast period between 2022 and 2032, reaching a total of US$ 647.01 Billion in 2032
  • The human source type held the largest share and accounted for 54.07% of the market value in 2021.
  • The North American market for monoclonal antibodies expanded with a market share of 46.2% in 2022.
  • Asia Pacific is projected to exhibit the fastest growth rate in the forecast period.

“Applications of mAbs for the treatment of autoimmune diseases are projected to grow at a lucrative rate due to the increasing prevalence of autoimmune conditions such as rheumatoid arthritis.” comments a Future Market Insights analyst.

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Competitive Landscape 

The market is expected to become more competitive in the near future, as many companies focus their efforts on research and the creation of innovative diagnostic techniques through product line expansions, acquisitions, and mergers.

Key players in the Monoclonal Antibodies market are:

Novartis AG; Pfizer Inc; GlaxoSmithKline plc; Amgen Inc.; Merck & Co., Inc.; Daiichi Sankyo Company, Limited; Abbott Laboratories; AstraZeneca plc; Eli Lilly And Company; Johnson & Johnson Services, Inc. and many more.

  • In November 2021, Bristol-Myers Squibb Company received the U.S. Food and Drug Administration approval for Opdivo (nivolumab) plus Yervoy (ipilimumab) combined with limited chemotherapy as first-line treatment of metastatic or recurrent non-small cell lung cancer. Patients with squamous or non-squamous illness, independent of PD-L1 expression, are eligible for the treatment. 1 The FDA’s Real-Time Oncology Examine (RTOR) pilot programme was used to review this application, which aims to ensure that safe and effective medicines are offered to patients as soon as feasible.
  • In March 2022, Sanofi S.A. and Blackstone Life Sciences entered a collaboration for accelerating the development of a subcutaneous formulation of Sarclisa mAb for the treatment of patients with multiple myeloma.

More Valuable Insights 

Future Market Insights, in its new offering, presents an unbiased analysis of the global monoclonal antibodies market, presenting historical analysis from 2016 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of test type (tumor biomarkers tests, imaging, biopsy, liquid biopsy, immunohistochemistry, in situ hybridization), by indication (breast cancer, lung cancer, colorectal cancer, melanoma, blood cancer, prostate cancer, ovarian cancer, stomach cancer, liver cancer and others) and by end-user (hospital associated labs, independent, diagnostic laboratories, diagnostic imaging centers, cancer research institutes and others) and regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Key Segments Profiled in the Monoclonal Antibodies Market Industry Survey

Monoclonal Antibodies Market by Production Type:

  • In Vivo
  • In Vitro

Monoclonal Antibodies Market by Source Type:

  • Murine
  • Chimeric
  • Humanized
  • Human

Monoclonal Antibodies Market by End User:

  • Hospitals
  • Specialty Centers
  • Others

Monoclonal Antibodies Market by Application:

  • Oncology
  • Autoimmune Diseases
  • Infectious Diseases
  • Neurological Diseases
  • Others

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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.

Contact:

Future Market Insights, Inc.
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Drug Formulation Market to Surpass US$ 1.58 Tn Amid Increasing demand for Oral formulation booming the Pharmaceutical Industry growth in coming years

[426 Pages Report] As per Future Market Insights, the global drug formulation market was valued at over US$ 1.50 Tn in 2021 and is expected to exhibit growth at a CAGR of 5.6% over the forecast period (2022-2032).

Market Outlook:

Data Points Market Insights
Drug Formulation Market Value 2021 US$ 1.50 Tn
Drug Formulation Market Value 2022 US$ 1.58 Tn
Drug Formulation Market Value 2032 US$ 2.87 Tn
Drug Formulation Market CAGR 2022-2032 5.6%
Market Share of Top 5 Countries 68.4%

As pharmaceuticals enhance our quality of life, there is an increased demand for novel drugs formulation that would offer effective clinical care with a cost-effective manufacturing process. Biologics have proven to be an effective treatment option for chronic disease treatment. Pharmaceutical companies are being compelled by the rise of biosimilars to either innovate or lower prices to compete. This has been stimulating innovation in the field of biologics.

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As there are currently 37 approved biosimilars by the Food and Drug Administration (FDA). A significant portion of this expansion occurred in 2019 when the number of biosimilars that were approved increased by 65% and the number of such medicines that were made available in the United States increased by 157%.

However, manufacturers, payers, and providers anticipate that biosimilar competition will result in persistent price reductions, as demonstrated by the adoption of biosimilars in Europe over the past 13 years.

Manufacturers will be encouraged to cut the prices of their products as the number of treatment options for a particular sickness or condition increases that expects to drive the drug formulation market growth in coming years.

Key Takeaways from Market Study

  • The oral formulation is expected to hold a 6% market value share by the end of 2032 and is expected to showcase growth at a CAGR growth of 6.0% over the forecast period.
  • Based on various indications, central nervous systems disorders hold the highest market share of 1% of the market share in 2021 and are projected to dominate throughout the forecast period.
  • In terms of end-user, the big pharma companies are expected to register a CAGR of 5.1% in upcoming years.
  • North America is slated to be the leading region with a value share of 1% at the end of the forecast period.

 “Growing prevalence of chronic disorders and Rising needs for novel drug formulation in the pharmaceutical sectors is expected to witness the growth of Drug Formulation Market over the forecast period,” says an analyst of Future Market Insights.

Market Competition

The drug formulation industry’s pharmaceutical and biotech businesses are concentrating on leveraging market potential by implementing mergers and acquisitions strategies. The trend continues as a result of the effective marketing campaign of novel and innovative drug formulation portfolios following strategic partnerships, acquiring their place in the market. The key techniques employed by the manufacturers to extend their business units and customer bases in both developed and emerging economies include strategic collaborations, mergers and acquisitions, production capacity expansions, and expanding product sales.

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For instance,

  • The COVID-19 vaccine was developed by Pfizer with the assistance of Sanofi in 2021, and Bayer and CureVac formed a complex cooperation to distribute 160M doses of the vaccine by 2022.
  • The German mRNA CDMO AmpTec was acquired by Millipore Sigma, the life science division of Merck KGaA. This strengthened offerings across the mRNA value chain, especially for MilliporeSigma, which already supplies lipids to Pfizer-BioNTech for their COVID-19 vaccines. Lipids are the main mode of delivery for mRNA therapeutics.

Want more insights?

Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2012 to 2032. The global drug formulation market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the drug formulation market segment based on dosage form – (oral formulations [tablets, capsules, powders and granules, lozenges and pastilles, gummies, and others], parenteral formulation [solutions, suspensions, emulsions for injection or infusion, powders for injection or infusion, and gels for injection implants], topical formulation [pastes, ointments and oils, creams, lotions and foams, gels, tincture and powders and sprays, and patches], and inhalation formulations [pressurized metered dose inhalers (PDI), dry powder inhaler (DPI), and nebulizer]), indication (infectious diseases, cancer, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, gastrointestinal diseases, musculoskeletal disorders, dermatology disorders, and others), and end user (big pharma, small & medium size pharma, and biotech companies) across seven major regions.

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Key Market Segments Covered in Drug Formulation Industry Research

By Dosage Form:

  • Oral formulations
    • Tablets
      • Immediate Release
      • Modified Release
      • Chewable
      • Effervescent
    • Capsules
      • Hard Gelatin Capsules
      • Softgel Capsules
      • Others
    • Powders & Granules
    • Lozenges & Pastilles
    • Gummies
    • Others
  • Parenteral formulations
    • Solutions
    • Suspensions
    • Emulsions for injection or infusion
    • Powders for injection or infusion
    • Gels for injection implants
  • Topical formulations
    • Pastes
    • Ointments and oils
    • Creams, lotions, and foams.
    • Gels, tinctures, and powders
    • Sprays and patches
  • Inhalation formulations
    • Pressurized Metered Dose Inhaler
    • Dry Powder Inhaler (DPI)
    • Nebulizer

By Indication:

  • Infectious Diseases
  • Cancer
  • Cardiovascular Diseases
  • Diabetes
  • Respiratory Diseases
  • Central Nervous System Disorders
  • Autoimmune Diseases
  • Gastrointestinal Diseases
  • Musculoskeletal Disorders
  • Dermatological Disorders
  • Other

By End User:

  • Big pharma
  • Small & Medium Size Pharma
  • Biotech Companies

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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.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Acacia Fiber Powder Market Forecast Report with Geodemographic Demand and Value Created at Node in the Supply Chain-2032

Acacia fiber powder is a complex polysaccharide and unlike other fibers, it ferments slowly in the digestive tract, leading to the delayed and gentle release of gas without causing digestive discomfort. Acacia fiber powder helps in weight management by creating a feeling of fullness as it swells when dissolved in water in the stomach and intestine.

A key benefits of acacia fiber powder is that it helps in nourishing microbiome in the body, which in turn helps in digestion and metabolism. One tablespoon of acacia fiber powder provides RDA between 21% and 29% for adult women and 16% and 20% for adult men.

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Acacia Fiber Powder Market: Dynamics 

Acacia fiber powder is a popular ingredient in the food industry as it find application as a stabilizing agent, an emulsifier and a binder. It also enhances the shelf life of the end product. Acacia fiber powder is incorporated in many food products, owing to its lack of aftertaste and GRAS status.

Also, recently, acacia fiber powder has been approved by the European Union as a safe food additive, which is expected to further drive the global acacia fiber powder market. Acacia fiber powder is commercially used in the preparation of edible coatings for fruits and vegetables, in place of paraffin wax, to extend the shelf life of the fruits.

Besides its incorporation in functional foods, acacia fiber powder is widely used in dietary supplements due to its high content of dietary fiber. It is used in many low-calorie and dietetic beverages as a source of soluble fiber as one gram of acacia fiber powder contains less than 1cal.

Global Acacia Fiber Powder Market: Market Participants 

Examples of some of the key manufacturers identified in the acacia fiber powder market include Nexira, Ingredion Inc., Kerry Group, Gum Arabic Company, Alland and Robert, among others.

Global Acacia Fiber Powder Market: Key Developments 

With significant investments, research and development in underway to investigate new applications of acacia fiber powder in various fields such as pharmacology, nanotechnology, tumor imaging and drug delivery. Several studies have shown that acacia fiber powder has potential in Nano construct and molecular imaging and its redox property is important for Nano-materials.

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Global Acacia Fiber Powder Market: Opportunities for Market Participants 

Acacia fiber powder’s status as GRAS as well as approval from EU countries for its use as a food additive are likely to surge the demand in western countries and produce new opportunities for African countries such as Chad, Sudan, Nigeria, Mali and Ethiopia.

However, the poor financial condition of farmers from African countries such as Sudan and adverse climatic conditions are posing a threat towards acacia forestry. Also, the production of acacia has declined due to competition from other cash-crops, which is producing a gap between supply and demand.

Enhancing the cost of acacia fiber powder and its derivatives on a global level might encourage farmers to opt for acacia farming and with the proper implementation of several programs, revive and boost gum production.

The report covers exhaust analysis on 

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes 

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Acacia Fiber Powder Market: Segmentation 

Segmentation of the acacia fiber powder market on the basis of nature: 

  • Organic
  • Conventional

Segmentation of the acacia fiber powder market on the basis of type: 

  • Acacia Senegal
  • Acacia Seyal

Segmentation of the acacia fiber powder market on the basis of end use: 

  • Food and beverage
  • Confectionery and bakery products
  • Dairy products
  • Soft drinks
  • Pharmaceutical
  • Dietary supplement
  • Veterinary medicine
  • Cosmetic
  • Adhesive
  • Textile

Segmentation of the acacia fiber powder market on the basis of distribution: 

  • Direct
  • Indirect
  • Wholesale
  • Online retailer
  • Supermarket
  • Specialty store

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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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Reduced Lactose Whey Market Overview, Current and Future Industry Landscape Analysis 2022-2032

Global Reduced lactose whey demand is anticipated to be valued at US$ 11.07 Billion in 2022, forecast to grow at a CAGR of 7.5% to be valued at US$ 22.82 Billion from 2022 to 2032.

Reduced lactose whey is the whey powder that contains less lactose concentration, i.e., less than 60%. The reduced lactose whey is manufactured by filtering the lactose from the sweet whey liquid. The lactose is removed by either precipitation, filtration or dialysis.

The filtered liquid is then spray dried to produce a powder known as reduced lactose whey. It is mostly a substitute for whey when low lactose and higher protein content is required.

There are two types of reduced lactose whey available in the market, organic and conventional. The reduced lactose whey has varied applications in the food and beverages industry. It is used as an economic source of dairy solids.

The use of reduced lactose whey is observed in the dairy, food processing, meat processing, infant food and in a number of other F&B industries. It is also used in nutraceuticals as a protein source.

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Reduced Lactose Whey different from Whey Protein Concentrate (WPC)

The WPC that is available in the market is different from the reduced lactose whey. Both are processed but in WPC the minerals are removed too along with lactose. The reduced lactose whey has high mineral and protein content.

Thus, the reduced lactose whey is also called mineral concentrated whey. The price of WPC is higher than the reduced lactose whey.

The WPC is mostly used due to their high functionality as a protein supplement. But due to their higher prices, the WPC being used as a source for dairy solids in the food and beverage industry is very less.

The reduced lactose whey having low lactose and high protein content can be used as a substitute in various types of food processing.

Reduced Lactose Whey: Key Participants

Some of the leading players in the global reduced lactose whey market include Wapsie Valley Creamery, Inc., Hilmar Cheese Company, Inc., MCT Dairies Inc., G&R Foods Inc., HoogwegtGroep B.V., Grande Cheese Company, Agropur Inc., Graham Chemical Corporation, Fonterra Inc., Interfood Inc., Leprino Foods Company, Dana Foods Inc., and AMCO Proteins.

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Reduced Lactose Whey Market: Activities by the Participants

In 2014, Hilmar Cheese Company expanded its Dalhart, Texas, facility to accommodate additional capabilities for milk, cheese and whey processing. For whey processing, they have installed advanced equipment to offer nine varieties of whey from the previous four available ones.

Reduced Lactose Whey Market: Opportunities

The manufacturing of the reduced lactose whey is in its introductory phase and very selective number of companies are manufacturing it. The use of the reduced lactose whey in the food industry is rising due to the product being economically feasible and also the lactose content is very low making it suitable for use in any type of food product and not just dairy products.

Also, the processing of the reduced lactose whey does not require extra costs and the removal of lactose is through a physical separation technique. Thus, the cheese producing companies can produce the reduced lactose whey powder with very less production costs, which has a high demand in the end-use industries.

Key Data Points Covered in the Reduced Lactose Whey Report

  • An overview of the global reduced lactose whey market, including background and advancement.
  • Macroeconomic factors affecting the reduced lactose whey market and its potential.
  • Market dynamics, such as drivers, challenges, and trends.
  • Detailed value chain analysis of the reduced lactose whey market.
  • The cost structure of and segments covered in the study.
  • In-depth pricing analysis, by crucial reduced lactose whey segments, regions, and by major market participants.
  • Analysis of supply and demand the reduced lactose whey, such as top producing and consuming geographies, imports/exports, and overall trade scenario.
  • Analysis of the market structure, including a tier-wise categorization of key market participants of reduced lactose whey market.
  • Competitive landscape of the market, including detailed profiles of the top players in the reduced lactose whey market.

Regional analysis of the reduced lactose whey market includes

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Argentina, Peru, Chile, Rest of LATAM)
  • Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Rest of Western Europe)
  • Eastern Europe (Poland, Russia, Ukraine, Rest of Eastern Europe)
  • Japan
  • Asia Pacific Excluding Japan (Greater China, India, South Korea, ASEAN Countries, Rest of APEJ)
  • Middle East and Africa (GCC Countries, Turkey, Iran, Israel, S. Africa, Rest of MEA)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain of the reduced lactose whey market.

The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors of the reduced lactose whey market, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies of reduced lactose whey.

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Reduced Lactose Whey Market: Segmentation

The global reduced lactose whey market is segmented on the basis of nature, extraction process, end use and distribution channel.

On the basis of nature, the global reduced lactose whey market is segmented as-

  • Organic
  • Conventional

On the basis of extraction, the global reduced lactose whey market is segmented as-

  • Precipitation
  • Filtration
  • Dialysis

On the basis of end use, the global reduced lactose whey market is segmented as-

  • Food and Beverages
  • Food Service (HoReCa)
  • Dairy products
  • Food Processing
  • Bakery Products
  • Soups and Sauces
  • Frozen Foods
  • Meat processing
  • Infant food
  • Beverage processing
  • Others
  • Nutraceuticals
  • Household/Retail

On the basis of distribution channel, the global reduced lactose whey market is segmented as-

  • Direct/ B2B
  • Indirect/ B2C
  • Supermarkets/Hypermarkets
  • Specialty Stores
  • e-Retail

Frequently Asked Questions

  • What is the anticipated growth of the reduced lactose whey market until 2032?
  • Which region is forecast to be the most lucrative for reduced lactose whey market growth?
  • Which are some prominent reduced lactose whey manufacturers?

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:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
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For Sales Queries: sales@futuremarketinsights.com
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